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JUNE 1970 / VOLUME 50 NUMBER
6
SURVEY OF
CURRENT BUSINESS
JUNE 1970 / VOLUME 50 NUMBER
SURVEY OF CURRENT BUSINESS
CONTENTS
U.S. Department of Commerce
THE BUSINESS SITUATION
Maurice H. Stans / Secretary
Summary
1
Rocco C. Siciliano / Under Secretary
Trends in Housing Starts
4
Harold C. Passer / Assistant Secretary
for Economic Affairs
Federal Budget Revisions
6
National Income and Product Tables
11
Plant and Equipment Expenditure Expectations
15
Manufacturers' Inventory and Sales Expectations:
Second and Third Quarters of 1970
21
Office of Business Economics
George Jaszi / Director
Morris R. Goldman / Associate Director
Lora S. Collins / Editor
Leo V. Barry, Jr. / Statistics Editor
Billy Jo Hurley / Graphics
STAFF CONTRIBUTORS TO THIS ISSUE
ARTICLE:
The U.S. Balance of Payments: First Quarter 1970
Business Review and Features:
23
Donald A. King
Charles A. Waite
Rose N. Zeisel
Genevieve B. Wimsatt
Marie P. Hertzberg
Article:
David T. Devlin
CURRENT BUSINESS STATISTICS
General
S1-S24
Industry
S24-S40
Subject Index (Inside Back Cover)
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the BUSINESS SITUATION
To judge from data that are still
quite incomplete, final sales appear to
be headed for a further strong expansion in the second quarter, but the
advance may be a little smaller than
that in the first quarter. Inventory investment is the key uncertainty in the
assessment of second quarter developments. At this time, it does not appear
likely that another reduction in accumulation on the order of that in the
first quarter is in the offing.
The statistics that are now available
for May indicate a further weakening
in economic activity.
J. O judge from data that are still
quite incomplete, final sales appear to
be headed for a further strong expansion in the second quarter. However,
the overall advance in final sales—i.e.,
national output excluding inventory
accumulation—may be a little smaller
than the $14.3 billion first quarter rise.
Government purchases, which added
$3 billion to final sales in the first
quarter, are apparently declining a
little in the second. The bulk of this
substantial swing in government purchases reflects the fact that the Government pay raise resulted in a boost to
first quarter purchases that will not be
repeated in the current quarter. Defense purchases seem to be declining
further, and growth in State and local
expenditures is slowing due to sluggishness in construction outlays. Also, the
growth of net exports and business
fixed investment seems a little weaker.
On the other hand, a reading of the
preliminary data indicates that consumption spending is rising about in
line with the first quarter increase,
while residential investment is declin
ing less than in the first quarter as a
result of some recent slowing in the
downtrend of housing starts.
Inventory investment
Inventory investment is the key uncertainty in the assessment of second
quarter developments. The sharp first
quarter reduction in the accumulation
rate was a big drag on the expansion of
total GNP. As measured in GNP, first
quarter accumulation was at an annual
rate of only $0.8 billion, down nearly
$7 billion from the fourth quarter rate.
In terms of book values, inventory
accumulation in manufacturing and
trade fell from a monthly average of
$1.1 billion in the closing quarter of
1969 to an average of less than $400
million in the opening quarter of this
year. Some further reduction in the accumulation rate is possible this quarter,
but it does not appear at all likely that
another reduction of the magnitude of
that in the first quarter is in the offing.
While inventories may be high in relation to basic sales trends in some industries, it generally seems that high
inventory-sales ratios reflect temporary
weakness in sales rather than a fundamental maladjustment. Moreover, business was quick to reduce inventory
accumulation when sales weakened.
Consequently, it appears that a heavy
accumulation of unwanted inventories
has been avoided.
According to preliminary data, the
April rise in inventory book values was
a little larger than the average monthly
increase in the first quarter. In the
absence of a drastic revision in the
April figures, a massive decumulation
on the order of $700 million in both May
and June would be necessary to effect
a reduction in the quarterly investment
rate comparable to that which occurred
in the first quarter. In further support of
the view that another sharp reduction
in inventory investment is unlikely, the
latest OBE survey found manufacturers
CHART 1
Business Capital Spending
• Expectations for 1970 revised down
Percent Change
All Industries
Downward revisions by manufacturing firms...
Durable Goods
Manufacturing
Nondurable Goods
Manufacturing
outweighed upward revisions by public utilities
!
!
Public Utilities
• Spending expectations of other major
industries little changed
Communication
Transportation
Incl. Railroads
Mining
Commercial
and other
U.S. Department of Commerce, Office of Business Economics
1
SUEVEY OF CUKEENT BUSINESS
planning stepped-up accumulation in
the current quarter. (See pages 21 and
22 for full report.)
Several factors may have helped to
restrain inventory accumulation during
the recent economic slowdown. Credit
scarcity, high interest rates, and reduced liquidity probably induced business to pay particularly close attention
to inventory holdings. Also, the fact
that the national policy to achieve a
gradual slowdown in economic activity
was well publicized may have enabled
the business community to plan prompt
and orderly inventory adjustments.
lowered to reflect the increase in the
personal exemption. These large increases, which far outweigh the weakness thus far shown in private payrolls,
can be expected to bolster consumer
spending, but the extent to which
spending will accelerate remains a
significant uncertainty. Eecent survey
results showed a continuation of the
year-long decline in the strength of
consumer willingness to buy. Moreover,
consumers were reported to have given
no indication that the deterioration in
sentiment was at a turning point,
despite the significant additions to
their spending power.
Consumer spending continues strong
Nearly all the expansion in current
quarter final sales appears to be coming
from personal consumption expenditures. Although the overall rise in
consumer expenditures is likely to be
similar to that in the preceding quarter,
the preliminary figures on retail sales
suggest less buoyancy in spending for
nondurables and some modest recovery
in spending for durables; expenditures
for services are continuing to rise in
line with recent trends. Spending for
durables, which declined $1 billion in
the first quarter, may show a small plus
in the second due largely to some
pickup in automobile purchases. Purchases of domestic-type models fell from
a seasonally adjusted annual rate of
8.2 million units in the fourth quarter
of last year to a 7.5 million unit rate in
the first quarter of this year; through
early June the second quarter rate has
averaged 8 million units.
Because the business community has
lowered its sights on expected capital
spending, the strength of the economic
outlook for the balance of 1970 hinges
heavily on the strength of consumer
spending. As is well known, the recent
increases in Federal employees' pay
and in social security benefits gave a
big boost—about $12 billion at a
seasonally adjusted annual rate—to
second quarter personal income. Moreover, the expiration of the income
surtax on June 30 is expected to raise
spendable income by about $4 billion
at an annual rate, and an additional
$1% billion increase will occur at
midyear when tax withholdings are
1970 capital spending plans reduced
The OBE-SEC May survey of business plans for capital investment points
to continued spending growth through
the third quarter, with little change in
the fourth. (Eesults are reported in
full on pages 15-20.) Compared with
the findings of the February survey,
however, the latest results show a
substantial cutback in 1970 spending
(chart 1). The cutback centers in
manufacturing, with numerous reductions in both the durables and nondurables sectors. Outside manufacturing, substantial reductions were reported in the 1970 programs of the
railroads and of other ground transportation firms. Airlines and utilities
reported large upward revisions, however, and the total 1970 spending
expectation of nonmanufacturing industries was raised modestly. As a
consequence of the revisions, the expected percentage growth of nonmanufacturing outlays this year is far
greater than that expected for manufacturing; in February, the growth
expectations of the two broad sectors
were quite similar.
In the industries reporting reductions
in the amounts expected to be spent in
the year as a whole, first quarter spending was below expectations. That shortfall, however, only partially accounts
for the reductions in the full year totals;
the survey shows that industries reporting such reductions have generally revised down not only the amount of
spending expected during the remainder
June 1970
of the year, but also the rate of spending
growth in that period.
Spending shortfalls in the first quarter were widespread, and affected even
industries whose plans for the full year
remain strong. In fact, the gap between
actual and expected spending growth
in the quarter was wider for nonmanufacturing as a whole than for manufacturing, but the expectations of the
nonm anuf acturing group regarding
spending growth in the remainder of
the year have strengthened substantially since February. The strongest
nonmanufacturing industries are the
electric utilities—which are suffering
from serious pressures on capacity—
and the airlines. The electric companies
reported a first quarter spending rise
much smaller than they had expected—
a development perhaps related to the
prolonged strike at General Electric—
but they have sharply raised their
expectations for the rest of the year.
The airlines7 first quarter spending was
on target, but they, too, have substantially raised their expectations for the
rest of the year.
Manufacturers, taken together, expected in February that spending would
rise modestly in the first and second
quarters, to be followed in the second
half by a steep advance centered in
nondurables. The May survey found
not only that first quarter spending was
well below expectations but that little
growth is expected for the rest of the
year. In percentage terms, the steepest
reductions in 1970 programs are in the
nonelectrical machinery, stone-clayglass, textile, and chemical industries.
Though cutbacks in manufacturing
were widespread, there were exceptions.
In three industries—electrical machinery, food, and paper—first quarter
spending exceeded expectations, with
no change reported in the amount
planned to be spent in the rest of the
year.
The sizable cutback in 1970 spending
shown by the May survey was not
unexpected. It was noted 3 months
ago that the strength reported in the
February survey was somewhat surprising, given high interest rates, credit
scarcity, cutbacks in sales and production, and an intensifying squeeze on
profits. In the light of later develop-
June 1970
ments, it would not be altogether
surprising were some industries to make
further reductions in 1970 spending
programs.
May Developments
Industrial production turned in a weak
performance last month. Following 3
months in which small and mixed
changes held overall output virtually
stable, the Federal Reserve index fell
0.8 percent, the largest drop in 6
months. The index has now registered
a decline in 8 of the last 10 months and
stands 3 percent below its peak last
July.
The May decline, which was partly
related to strikes in the trucking and
1
rubber industries, was widely diffused.
Production of nondurable goods, which
had held up fairly well over the past
10 months, fell nearly as much as did
durable goods production. In the
durables sector, moreover, significant
cutbacks were recorded by all major
industry groups with the notable exception of the automobile industry.
Auto assemblies, which had been
generally exerting substantial downward pressure on overall production
since last fall, rose 15 percent in May,
and a further increase is scheduled for
June. While this pickup in auto production no doubt reflects expectations of
improved sales, it may also reflect
action taken in anticipation of possible
work stoppages in late summer. Among
the market groupings, production in
May was off moderately for materials,
and rather sharply for business and
defense equipment; consumer goods
production was unchanged.
Labor demand slackens
Weakness in labor markets was also
pervasive in May. After posting substantial gains during the first 4 months
of this year the civilian labor force declined and employment, which had
fc shown mixed changes and very little
growth since yearend, dropped sharply.
The number of unemployed continued
to rise and the unemployment rate
moved up from 4.8 percent in April to
5.0 percent in May (chart 2). This
marked the fifth consecutive increase
in the rate, and the rise from 3.5 percent
SURVEY OF CURRENT BUSINESS
last December is the sharpest for a
5-month span since the late 1950's.
The weakness in labor markets was
also clearly reflected in last month's
sharp decline in nonfarm payroll employment. The number of jobs in nonfarm establishments fell 270,000 in May,
seasonally adjusted. This followed a
decline of 130,000 in April and an
average increase of nearly 140,000 in the
first quarter of this year. Although
strike activity in construction and manufacturing accounted for roughly onethird of the May cutback, the
weakness was broadly based. Employment declined in construction, manufacturing, and trade, and was little
changed in the service-type industries.
CHART 2
Employment and Unemployment
Million Persons
84
Percent
6
UNEMPLOYMENT RATE
1966
1967
1968
1969
1970
Seasonally Adjusted
Data: BLS
U.S. Department of Commerce, Office of Business Economics
70-6-2
Only State and local governments recorded any noticeable increase, and
that was partly due to the return of
strikers.
The bulk of last month's employment
decline centered in manufacturing,
where reductions were recorded by
nearly all the industry groups. Employment in durable goods industries, which
has been weak since last fall, fell
130,000. Employment in nondurable
goods industries, which had been holding up well, registered its first sharp
decline and fell 90,000. Moreover, both
the workweek and factory overtime
edged lower again in May; since yearend, the workweek has declined 0.8
hours and overtime 0.6 hours.
Personal income
Personal income in May fell $7%
billion, at a seasonally adjusted annual
rate, after rising an extraordinary $18
billion in April—the month in which
the Federal pay raise and higher social
security benefits entered the income
stream. A reduction in transfer payments was the major element in the
May decline; these payments fell because the retroactive payment of higher
benefits to social security recipients was
made as a lump-sum in April, swelling
that month's income but causing an
offsetting decline in May. Employees of
the Federal Government also received
a retroactive payment as a result of
their salary increase. The retroactive
payment was spread about evenly between April and May, however, and the
offsetting decline will not be evident in
the personal income figures until June.
Last month's slackness in labor
markets was reflected in a $% billion
decline in private payrolls, following a
$1% billion drop in April. The May
decline was due to sharply lower wage
and salary disbursements in the commodity-producing industries; payrolls
were up a bit in the distributive and
service industries. Government wages
and salaries were also a little higher in
May, due to a small increase at the
State and local level.
Except for the decline in transfer
payments already noted, the nonwage
components of personal income showed
generally small changes last month.
SUKVEY OF CUEEENT BUSINESS
Price rise continues
The overall consumer price level rose
6 percent in May, at a seasonally adjusted annual rate, matching the previous month's advance. The rise in food
prices accelerated a little, after seasonal
adjustment, but the rise for other nondurables slowed. The index for durable
goods was boosted by an unusually
sharp rise in used car prices, which
had also been a factor in the April
advance. The rise of services prices,
on the other hand, slowed in May.
It was noteworthy that nearly all
the major groups of services showed
increases smaller than in recent months,
but there is no clear evidence to indicate whether this marks a turning
point toward deceleration in the rise
of service prices.
In wholesale markets, the overall
price level rose in May at an annual
rate of about 2% percent, after showing
no change in April. Prices of farm
products and processed foods and feeds
dropped again, but the declines were
CHART 3
New Private Housing Units Started
Million Units (ratio scale)
2.0
Total
1.5
smaller than in April. The industrial
commodities index rose at an annual
rate of about 3% percent, the same as
in the 3 preceding months. There was
little change in the rate of increase for
metals and related products or for
machinery and equipment. Fuel prices
accelerated—mainly because of gasoline
price increases—and lumber prices recorded their second consecutive increase
after a year of decline. The price rise
for chemicals slowed, while decreases
were reported for the paper and leather
groups.
Trends in Housing Starts
Preliminary data show private housing starts running at an annual rate of
about 1.2 million units in both April
and May, down somewhat from the
first quarter average and about 25
percent below the rate reached early
last year (chart 3). During the course
of the decline, which has now persisted for well over a year, there have
been some significant differences in the
behavior of various components of
total starts. It is of interest, therefore,
to review recent developments by size
of structure and by region, against the
background of earlier trends, and to
take note of recent shifts in the composition of mortgage credit.
Starts by size of structure
1.0
.9
.8
.7
.6
i ii
1963
64
65
66
67
68
69
70*
Seasonally Adjusted at Annual Rates
*April-May average plotted for second quarter.
Data: Census
U.S. Department of Commerce, Office of Business Economics
70-6-3
The past year has seen a substantial
drop in the start rate for both single
family homes and units in multifamily
structures. In recent years, however,
trends in those two broad sectors have
differed substantially. Starts in multifamily structures recovered strongly
after the general homebuilding slump
in 1966, and the April-May rate in
that sector—while well below the peak
reached a year ago—was far above the
depressed level at the bottom of the
1966 decline. The rate of single family
starts, by contrast, has recently been
down to levels nearly as low as those
touched in 1966. Single starts showed
only a modest recovery after 1966,
never regaining the rate of about
970,000 per year that had prevailed
June 1970
in 1964 and 1965. Even in those 2
years, single starts were below earlier
levels. In 1959, for instance, more than
1.2 million single units were started
and the number was surely even higher
earlier in the 1950's (although data by
structure size are unavailable for that
period).
The shrinkage over the years in the
number of single family starts has been
accompanied by an even sharper decline
in that sector's share of total starts. The
large absolute and relative growth of
multifamily building in the past decade
is a phenomenon apparently related in
part to e pressures of rising costs of
land, construction, and finance—but
also to increasing urbanization and a
population mix tending to generate relatively stronger demand for apart-*
ments than for homes.
In 1959, the earliest year for which
continuous data are available, starts in
multifamily structures numbered fewer
than 300,000 units and accounted for
less than 20 percent of private starts.
Last year, multifamily starts exceeded
650,000 units and accounted for about
45 percent of the total.
The boom in multifamily building in
the early 1960's—coinciding with the
general recovery from the 1960-61 recession—was extraordinarily strong. 4
The number of starts doubled from 1959
to 1963, but the latter year marked a
peak and the rate was falling for 2 full
years prior to the general homebuilding
slump in 1966. In the face of strong
demand, multifamily starts recovered,
swiftly and the rate climbed rapidly
until early 1969. Though it fell thereafter, the total number of multifamily
starts last year actually exceeded the
1968 total by about 8 percent.
Despite the large expansion in multifamily starts since late 1966, the
vacancy rate in rental housing—which
essentially reflects apartment vacancies—has been falling steadily. Through
the middle years of the 1960's, during
and just after the earlier apartment
construction boom, the vacancy rate
held around 7% percent. It has recently
been about 5 percent, as low as at any
time since 1956 (the span for which
data are available), suggesting the
SURVEY OF CURRENT BUSINESS
June 1970
persistence of firm demand in the
apartment market.
Mobile home expansion
Recent years have seen a large
increase in the significance of mobile
homes as a factor in the overall supply
of new housing units. Manufacturers'
shipments of mobile homes (i.e., large
units intended to be permanently connected to utilities) increased about 30
percent in both 1968 and 1969, and
last year reached a volume equal to
about 25 percent of total private
housing starts.
Private Housing Starts and Mobile Home
Shipments
[Thousands of units]
Starts
Single
family
1964
1965
1966
1967
1968
1969
971
964
779
844
900
811
Multifamily
558
509
387
448
608
656
Mobile
home
shipments
161
217
217
240
318
413
Source: U.S. Department of Commerce, Bureau of the
Census.
Though some of the mobile units are
intended for nonresidential use, e.g., as
field offices, it is clear that the mobiles
have recently been an important element in the supply of new housing units.
In many cases, the purchase of a mobile
home is probably an alternative to the
purchase of a single family house; to
the extent that this is true, the mobiles
are an offset of sorts to the shrinkage
in single home starts, and an important
factor at the low end of the price range.
However, there are undoubtedly also
buyers for whom the alternative would
be an apartment.
family structures have remained well
below pre-1966 levels. Developments
in New York City, where an apartment
boom early in the 1960's has been followed by a low level of starts, evidently
contributed to the sluggishness of multifamily starts in the region as a whole.
The West stands out from the other
regions in several respects. Starts went
through a longer decline there than elsewhere—they were falling for 2 years
prior to 1966—and their subsequent
recovery lasted longer. Starts in the
West rose throughout 1969, joining the
latest downturn only in early 1970.
The timing and extent of swings in
the West has primarily reflected developments in multifamily building. The
apartment boom there in the early
1960's was very strong. Estimated from
data on building permits, multifamily
starts in the region numbered about
100,000 units in 1959 and about 220,000
in 1963, and their share of the region's
total starts rose over those 4 years from
about 30 percent to more than 50
percent. Though single family starts
declined in the West after 1963, the
drop in multifamily starts was precipitous: in 1966 they amounted to only
68,000 units, or 34 percent of total
starts in the region.
The correction in multifamily building in the West between 1963 and
1966—which was evidently a reaction
to some earlier overbuilding—laid the
basis for a strong recovery thereafter.
Multifamily starts in the region continued to rise during 1969, while single
starts held about stable; in other
regions, starts of both types were
generally falling during the course of
the year. The 1969 total of multifamily
starts in the West was 161,000 units,
well below earlier peaks but once again
equal to about 50 percent of total
starts in the region. It is noteworthy
that despite the strong growth in the
past few years, the rental vacancy rate
in the West has fallen from more than
11 percent in 1965 to less than 6 percent
recently.
In the North Central region and the
South, the strong growth in the importance of multifamily starts occurred
quite recently, and contributed importantly to the national strength of
such starts since 1966. In those two
regions, the multifamily share in total
starts has only lately reached the
proportions attained in the Northeast
and West in the early 1960's. Continuous data on regional starts by size are
Multifamily Starts: Number and Share in Total Private Starts
Northeast
Number
Share
(000)
(percent;
1964
1965
1966_.
1967
1968
1969
. .
.
..
West
Share
Number
Share
Number
Number
(000)
(percent)
(000)
(000)
(percent)
42
40
38
41
41
41
107
107
79
88
94
84
South
North Central
113
136
99
123
146
166
159
159
139
155
244
246
33
38
34
36
40
48
28
28
29
30
40
42
180
107
68
81
124
161
Share
(percent)
50
40
34
37
42
50
Source: U.S. Department of Commerce, Bureau of the Census.
Changes in Holdings of Mortgages on 1- to 4-Family Homes
Starts by region
In each of the Nation's four major
regions, starts declined in 1966 and
recovered in the following 2 years. In
each region there has also been a rise
since 1966 in the multifamily share of
total starts, and a decline, of varying
duration, in the rental vacancy rate.
There are substantial differences
among the regions, however. The
Northeast has been relatively quite
weak. The post-1966 recovery there was
modest, and even starts in multi
(Billions of dollars; quarterly figures at seasonally adjusted annual rates)
1966
Savings and loan associations
Mutual savings banks
Commercial banks
Life insurance companies
.
FNMA
Other
Total
Addendum: Savings and loan associations
Mortgages, larger structures
Total residential mortgages. .
Advances from FHLB
2.9
1.6
2.4
.6
1970
19 69
1967
6.0
1.8
2.4
— .5
1968
7.2
1.4
3.5
—.7
1969
8.0
14
2.6
— 1.0
39
I
II
III
IV
9.1
1.6
4.3n
1.7
1.1
9.5
1.5
3.3
-.6
25
.7
7.4
1. 1
1.7
-.8
4 7
1.1
6.1
1.3
1.2
-1.9
66
.3
3.2
.7
1.5
— .6
5.7
1.1
HP
1.1
1.1
1.6
2.3
10.4
12.5
15 3
15 6
17.0
16.8
15 1
13.5
11.7
.5
3.4
.9
.9
6.9
—2.5
1.1
8.3
.9
1.1
9.1
4.0
1.2
10.3
2.9
1.2
10.7
3.1
1.2
8.6
5.3
.6
6.7
4.8
.8
4.0
4.4
19
16
.8
Source: Flow of funds accounts, Board of Governors of the Federal Reserve System.
SUEVEY OF CUEEENT BUSINESS
6
available only from 1964, as summarized in the accompanying table. Data
on building permits, however, suggest
that the multifamily share of starts in
the Northeast and West was already
fairly high—about 30 percent—in 1960
and rose in the following few years to
proportions about the same as those
recorded in 1969. In the North Central
region and the South, however, the
share was around 10 percent in 1960
and has been rising quite steadily since.
Suppliers of mortgage credit
A striking development in the mortgage market over the past year or more
has been the sharp growth in the role of
the Federal National Mortgage Association (FNMA) and the Federal
Home Loan Banks (FHLB). The activities of these agencies relate principally
to mortgage financing for 1- to 4-family
homes.
Continued on Page 53
Federal Budget Revisions
Eevised estimates of Federal receipts
and expenditures for fiscal years 1970
and 1971 were released in mid-May by
the Bureau of the Budget. Since the
upward revisions in expenditures exceed
the projected yield from tax measures
proposed since the February budget,
the new data suggest that fiscal policy
will be moderately less restrictive than
had been indicated in the budget.
For fiscal 1971, the revised estimates
show a $1.3 billion deficit in the unified
budget as compared to a $1.3 billion
surplus previously projected. Eeceipts
are estimated at $204.3 billion, $2.2
billion above the February figure. Two
tax proposals not included in the earlier
estimates—acceleration of estate and
gift tax collections and a tax on lead
used in the manufacture of gasoline—
are projected to add over $3 billion to
receipts. On the other hand, receipts
from other sources are expected to fall
about $1 billion short of the February
estimates, although the assumed level
of economic activity underlying the
1971 revenue estimates has not been
changed significantly.
Expenditures were revised upward by
$4.8 billion, to $205.6 billion. About half
June 1970
Unified Budget Receipts and Expenditures Fiscal Years 1970 and 1971
[Billions of dollars]
] 970 estimate
Feb.
budget
Receipts
Outlays
.
May
revision
1971 estimate
Change
Feb.
budget
May
revision
Change
199.4
197.9
196.4
198.2
—3.0
.3
202 1
200 8
204 3
205 6
2 2
4 8
1.5
-1.8
—3.3
13
—1 3
—2 6
Surplus or deficit (— )
of the revision is in relatively uncontrollable items such as interest ($1
billion), unemployment benefits
billion), and farm price supports
billion). The largest increase—about
$1% billion—results from the Federal
pay raise having been granted effective
December 27, 1969, about a full year
earlier than the date assumed in the
February budget. Other increases are
principally associated with federally
assisted construction, education, and
housing. None of the advance is attributable to military operations; the
upward revision in fiscal 1971 Department of Defense military outlays is
due entirely to the earlier effective date
of the pay raise.
For the fiscal year ending this month,
a deficit of $1.8 billion is now projected,
as compared to a $1.5 billion surplus
estimated in February. The overall
shift of $3.3 billion is chiefly due to the
$3 billion reduction in the estimate of
corporate income tax collections.
Changes in other types of receipts and
in total outlays are largely offsetting.
On a national income accounts (NIA)
basis, small surpluses were projected
in February for both fiscal years; the
May estimates show a smaller surplus,
for 1970 and approximate balance for
1971. Much of the upward revision in
fiscal 1971 NIA expenditures centers in
grants-in-aid and interest. NIA receipts
were revised more than unified budget
revenues for fiscal 1971 largely because
the recovery in profits that is assumed
in the May estimates is expected to
increase liabilities more rapidly than
collections. (Corporate taxes are recorded on a liability basis in the national
income accounts but on a cash collections basis in the unified budget.)
Details of the NIA data are shown in
the accompanying table.
Revisions in Federal Receipts and Expenditures, National Income Accounts Basis, 1970—71
(Fiscal years, billions of dollars)
1970 estimate
Feb.
budget
Federal Government receipts
Personal tax and nontax receipts.
Corporate profits tax accruals
_ Indirect business tax and nontax accruals
Contributions for social insurance
.-
_. _
_
.
_ _ _
-
1971 estimate
May
revision
Feb.
budget
May
revision
201.8
200.8
205.4
208.7
95.5
38.8
19.1
48.3
95.5
37.9
19.1
48.3
93.6
38.4
20.5
52.9
94.6
38.7
22.3
53.1
198.1
199.3
203.8
208.6
100.8
77.9
22.8
101.2
78.9
22.3
96.6
72.1
24.5
97.9
73.0
24.8
56.9
54.7
2.2
56.4
54.5
2.0
65.0
62.8
2.2
65.1
63.0
2.1
Grants-in-aid to State and local governments
22.4
22.9
24.8
26.7
Net interest paid
13.6
14.1
13.3
14.2
4.5
4.7
4.1
4.6
3.6
1.5
1.6
.1
Federal Government expenditures
Purchases of goods and services
National defense
Other
.- .
.
...
--
Transfer payments
To persons
To foreigners (net)
--
.
.
Subsidies less current surplus of government enterprises
Surplus or deficit ( — ) , national income and product accounts
Sources for May revision: "Kevision of the Fiscal Year 1970 and 1971 Budget Estimates," Bureau of the Budget, and
U.S. Department of Commerce, Office of Business Economics.
SURVEY OF CUEEENT BUSINESS
June 1970
CHART 4
In May: Unemployment rate reached 5 percent, the highest since early 1965
Nonfarm payroll employment declined by 270,000 and weekly hours edged downward
Wholesale prices up a little, after holding steady in April
TOTAL PRODUCTION
PRICES
THE LABOR MARKET
Billion $
Million Persons
1,000
83
IMPLICIT PRICE DEFUTO FOR 0NP**
(Change From Previous Quarter)
CIVILIAN LABOR FORCE AND
EMROYMENT*
81
950 -
Labor Foree
900 -
79
850 -
77
Employment
75 /I I I I I I I 1 I I I I I I I II I I I I I I i I t I I ! I I I I M
800
Monthly (May)
Quarterly (l)
Billion $
40
Quarterly (I)
BLS
Percent
1957-59= 100
5
135
CURRENT DOLLAR GNP**
UNEMPLOYMENT RATE*
(Change From Previous Quarter)
30
Total
20
Married Men
10
I I I 1I I I 1 I I
Billion $
Million Persons
76
120
™
72
-
68
-
64
".,j?ap*»
Inventory Change
,
i
i
i i
i
i
i
I
Quarterly (l)
i
60
Hours
12
45.0
4
0
—
100
' '
-
-
in
37.5
Monthly (May)
*>+*
1957-59 = 100
\ 60
f —^>
•
""
3.20
120
3.00
110
2.80
100
2.60
90
Processed Foods **~**s***
and Feeds x /
r
Quarterly (l)
* * Seasonally Adjusted at Annual Rates
U.S. Department of Commerce, Office of Business Economics
A.
Farm Products
(left ssale)
35.0
1970 QBE
r^w
—
Average Weekly Hours*
1
1969
BLS
WHOLESALE PRICES
""*».
•
i M i ii t 11M 1 1 M 1 1 1 1 1 1 1
I H I I \ \ \ 1 t 1
BLS
40.0
•
* Seasonally Adjusted
i N i i t i i M i120
6.40
""
—
Industrial Commodities
^x*^*****^
^&#™~
Average Hotirly Earnings ^**
Bright scale) x ^/
In
1968
105
PRODUCTION OR NONSUPERVISORY WORKERS
(PRIVATE)
42.5
-4
130
-
Dollars
CONSTANT DOLLAR (1958) GNP**
(Cttatige From Previous Quarter)
- •
HO
^^^--* _ —
1 1 M 1 1 | 1 |, | 1
..'
/&•
>*
_^
Total
JCF
jr
x
140
Monthly (May)
Percent
8
i i i t i 1 i 1 1 11
QBE
'
115
Man-Hours*
(right scale)
a**""***"
-
600
WHOLESALE PRICES
,
Employment*
' ^^
(left scale)
^*~^~~\
\,S*^
Final Sates
650
1957-59=100
(Employees)
Total
~^X
Billions
NONFARM ESTABLISHMENTS
CONSTANT DOLLAR (1958) 6NP**
700
Monthly (Apr.
BLS
Monthly (May)
800
N^,~«~~~*
-£p~~*
115
MilI 1I I I I I
Quarterly (l)
750
120 -
1 1 1 1 1 1 1 t M 1
1968
1 1 1 ! 11 I 1 1 1 1
1969
Monthly (May)
1 1 IM 1 1 1 1 M
1970
BLS
1 1 1t ! ! M 1 1 i
1968
M 1 M 1 1 11 M
1969
Monthly (May)
1 t I 1 1 | 1 t! f t
1970
BLS
SURVEY OF CURRENT BUSINESS
8
June 1970
fC_H
t—1 AK
A D TS
i
C.
3
• In May: Housing starts little changed, permits up sharply again
Sales of domestic cars unchanged-sales of imports up
•
• Plant and equipment outlays expected to rise 8 percent in 1970, compared with 11% percent in 1969
INCOME OF PERSONS
CONSUMPTION AND SAVING
Billion $
850
FIXED INVESTMENT
Billion $
Billion $
650
100
PERSONAL CONSUMPTION EXPENDITURES**
PERSONAL INCOME**
Producers' Durable Equipment**
750
75
600
800
^\_
/\
-
-
550
_
500
^\
/^
^^^
-
50
~S
_
25
I 11t1II 1II
\ I I I I I II I II
Monthly (May)
i
450
Billion $
J5
1 11 1t 1 1 1 M 1
1
I
1
1
i
0
^^—^s-s
^
-
90
-
25
^_ „--'
80
-
*
-
150
100
Excluding Automotive Group
'
20
15
i j j 1 1 j jj jj |
M 1 1 1 1 1 M 11
1 1 II1 i Ii I II
Monthly (Apr.)
QBE
i
60
8
/^
/
-
8
1
1
1
1
4
1
Quarterly (1)
Imports
(right scale)
1 1 1 1 1 111 1 11
t 1 1 1 11 11 11
Monthly (May)
QBE
V ^
2,700
*
1
OBE-SEC
M M 1 1 M M
2
5
0
4
y
V-
Shipments
^^f
1 M 1 1 1 1 1 1 I'l
Trade Sources & QBE
Percent
Dollars
1 . 1
I . I
New Orders A
&
\
;\
J\
_
4 \ ••»/./ ;.<
• *-j\/ \^t A
6
\/V,r-
6
550
1
7
(left scale)
/s/*x
r^-
^^*
S^
1
MACHINERY AND EQUIPMENT*
(Manufacturing Firms)
.
Domestic
10
i
Quarterly (IV)
NEW CAR SALES**
^
i
-
• Expected
Census
Billion $
i i
•*
^^/
12
DISPOSABLE PERSONAL INCOME
.
f
70
-
Million Units
650
1
QBE
\/
1 1 M 1 1 1 1 1 I.I
1
-/^
*-* — *-;
\
Manufacturing
(right scale)
1 11 11 { 1 11 11
1
. *
^
"""
i
s^* —^
V
y
i
-
Billion $
j
i
Quarterly (1)
700
500
i
^
- 200
Monthly (May)
600
t
QBE
PLANT AND EQUIPMENT
EXPENDITURES**
Total
^^r
Total
^<^~
(left pie) S^\
400
I
Billion $
30
-
/*
\
RETAIL STORE SALES*
-
450
_
100
WAGES AND SALARIES**
-
i
Quarterly (I)
Billion $
500
i
QBE
600
550
"""""7 •
_*
Residential Stri ctures**
i i i t f i i t.i i
650
_
-
~ Nonresidential S ructures**
ir
700
-
1 M 1 1 1111 1 i
I ii ii1iiIt l
Monthly (Apr.)
Census
Million Units
\2
PRIVATE HOUSING**
PERSONAL SAVING RATE*
REAL PER CAPITA DISPOSABLE
PERSONAL INCOME**
2,600 -(In 1958 Dollars)
-
10
-
-
2.0
-
-
.Starts
X
2,500 -
^
r/-~
8
-
i . I
1968
* Seasonally Adjusted
-
^-\
^
2,400 -
9 snn
-
i
1
1
1
1969
Quarterly (1)
1
1
U.S. Department of Commerce, Office of Business
Economics
4
1
1970
* * Seasonally Adjusted at Annual Rates
6
-
T^L^
**•
VA
1
1
1968
QBE
r~
N-/
1
!
I
1
1 969
Quarterly (1)
/^
1.5
1.0
1
1
1
.5
1 970
-
"Vs/y]
/""""'
-
i A /
Permits
M 11 1( 1 11 11
1 968
QBE
^Vx. .
1 M 1 1 i 1 I1 1 1
1969
Monthly (May)
i 111111 11i
1970
Census
Fune 1970
SURVEY OF CURRENT BUSINESS
(
« Manufacturing and trade inventories rose an estimated $500 million in April, about the same as in March
• The trade surplus reached $200 million in April, as exports rose more than imports
• First quarter balance of payments in deficit on both the liquidity and official reserve transactions bases
INVENTORIES
FOREIGN TRANSACTIONS
Billion $
Billion $
40
\l
GOVERNMENT
Billion $
I4U
NET EXPORTS**
CHANGE IN BUSINESS INVENTORIES**
(GNP Basis)
30
-
-
8
20
-
-
4
FEDERAL PURCHASES OF
GOODS AND SERVICES**
-
-
120
-
100
-
Total
Goods and Services
••»
—.—•—•"""N
10
0
.hi Illl
0
-4
Quarterly (1)
1
Billion $
4.U
160
-
M
S/
/^
—
150
3.0
2.5
140
1 1 1 t 1 11 1 i 1t
M 111 1i i 111
Monthly (Apr.)
1
1
t
60
Exports
\
3
r
i J/
1 1M t i 1 1 111
Census & QBE
t "
/
Imports
?1
—
2
a i i i i 1 i Mi i
I.I M 1 1 1 I M 1
0
i 11i111111i 11111111111
Census
V
_
Outflow
-
I 1 1 1 1 Li I I I !
1 1 1 1 1 1 Milt
Monthly (Apr.)
-2
-4
i
i
V
i
1
Census & QBE
_
1
\
^
-
1
1
1
1
175
/^ ^^
_X
^
-..-•***"^r
Expenditures
150
Billion $
Billion $
4
175
BALANCE OF PAYMENTS*
2
^
/K
^v vy/ ix^x^^x
<*~*^t\.
1.6
1.4
1.2
k
-«-*x., — ',^
0
^ / •%,***
-
- Total Manufactt ring and Trade
i i i 111 11 1 ii 1 1 1 111 1 11 11
1968
1969
Monthly (Apr.)
1 1 11 1 1 1 1 111
1970
Census & QBE
* Seasonally Adjusted * * Seasonally Adjusted at Annual Rates
U.S. Department
of Commerce, Office of Business Economics
-2
-A
\?\
/
Liquidity Basis
l
i
1968
t
v\ VA
/
i *i i
1969
Quarterly (1)
i
l
l
1
1
1
QBE
150
\ 4
\\//
l
STATE AND LOCAL PURCHASES
OF GOODS AND SERVICES**
Official Reserve Transactions Basis
A \ N/ \
/
~>^
l
-
Quarterly (I)
Ratio
Manufacturing
i
QBE
2.0
1.8
_
S\
Quarterly (1)
INVENTORY/SALES RATIOS*
Census
Receipts
^^
—.«*• ^* """*""
1 11 11M M 1
225
inflow
£-'**
40
—
M 1 1 1 1 1 11 M
FEDERAL BUDGET**
(NIA Basis)
~
^^-'"
-***^^
Trade
\
60
NET FLOW OF PRIVATE U.S. AND FOREIGN CAPITAL
(Other than Liquid Funds)*
MANUFACTURING AND TRADE INVENTORIES*
(Book Value, End of Month)
—
\
Monthly (Apr.)
Billion $
-^
i
QBE
\/ Shipments
\ l\/l/
1
Monthly (Apr.)
2
i
-j^v • j-\ \JT^^L/ ^fa^*t* i ^^
2DU
_
i
l
\
4
^**~~\-,
l
New Orders
J
iNsA
A
***ij/ *
2.0
A
. .. IV
Billion $
Manufacturing
i
DEFENSE PRODUCTS*
Billion $
__
l
Quarterly (1)
120
100
i
QBE
4
+~s
1 1 1 M i 1 i 1 1 1
1
Billion $
3.5
/Sf
\x^
_
Merchandise
1 1 1
1
MERCHANDISE TRADE*
MANUFACTURING AND TRADE INVENTORIES*
(Book Value, End of Month)
Total
80
\
Quarterly (1)
Billion $
-
Defense
s
r~—^ ^~
\
QBE
180
170
1
-^** —'—p*-^^"~-
125
••»
^ —-^
\
100
\
\
1
1
1
75
1970
i
l
1968
QBE
l
J J
I
1969
Quarterly (I)
«.
_.i
i _ 1
1970
QBE
SURVEY OF CURRENT BUSINESS
10
June 1970
• In May: Industrial production dropped about three-fourths of 1 percent
•
Both bank credit and money supply advanced further
•
Interest rates and bond yields sharply higher, stock prices sharply lower
INDUSTRIAL PRODUCTION
MONEY, CREDIT, AND SECURITIES MARKETS
1957-59=100
Billion$
190
4oU
•^40
\
- x^x
220
V
f«*^
Bank Credit
J^
/
L**'
380
'
JF
340
i i 1 1 i 1 i t i it
Monthly (May)
\
^S~~
J"^X
200
80
180
60
160
40
Money Supply
(right scale)
1 t M I1 t 1 1 1
FRB
M 1 11 t I 1 1 1 1
M 1 1 1 I 1 1 1 11
Monthly (May)
t
Billion $
i
l^U
175
- ^ /
N
FREE RESERVES
s^
150
^ /v
u
*"*
' \
' V\A
1
\^
/
I
0
100
1 M II 1 1J I t t
Steel
\^-
1 1 ! 1 1 1 1 1 1 1 1
'
1 1 1 1 1 ! 1 1 1 1 1
Monthly (May)
V
v/^
I 1 i 1 1 1 1 1 I II
Percent
95
10
8
1 1 t
~ Corporate Yields* Moody's Aaa
1
i
i
i
8
i
i
4
i
t
i
Quarterly (1)
2
0
1 1 1 ! 1 t I 1 1 1 1
FRB
Billion $
1 94 1 -43 = 1 0
140
New Orders
100
Af*At
/\ v\/ Yv
//
\/
II
1 I t 1 1 1 1 II
~
1 itnIiii ii ii ii l1 l ii ii
1968
1969
1970
Census
* Seasonally Adjusted
Monthly (Apr.)
* * Seasonally Adjusted at Annual Rates
QBE
i 1 1 t 1 1 1 II i t
'«
-8
Quarterly (l)
BLS
Percent
UNIT LABOR COSTS, PRIVATE ECONOMY*
(Change From Previous Quarter)
~
„
~\j^^~^
on
16
U.S. Department of Commerce, Office of Business Economics
60
8
\
Shipments
1 M i 1 1 )1 i
i
—
_
Standard and Poor's 500
\
32
A
i
Compensation
X
• •
STOCK PRICES
120
i
i
24
DURABLE GOODS MANUFACTURERS*
—.
i
MjipjiJlj
Monthly (May)
40
—
i
OUTPUT AND COMPENSATION PER MAN-HOUR,
PRIVATE ECONOMY*
_ (Change From Previous Quarter)
p. Output
3-month Treasury Bills
\
80
i
Quarterly (l)
16
>fTs*J^
6
75
i
40
FRB
^r^T^ \/
85
24
1 1 1 1 t M
_
Percent
Manufacturing
36
1 1 1 1 1 1 1 1 1 1 1
INTEREST RATES AND BOND YIELDS
-
QBE
24
RATIO, OUTPUT TO CAPACITY*
90
l
^
—
Profits After Taxes
60 -
Monthly (May)
Percent
l
Cash Flow
\
\
N-
-1
-2
i
—
80
-S
FRB
1
100 -
V^ ^v
f
125
—
JX*
1
CORPORATE CASH FLOW AND PROFITS**
—
V
S\
1
Quarterly (l)
Billion $
Autos
1
FRB
1957-59=100
1**"%**
X
""^^s.
^v
200
INDUSTRIAL PRODUCTION*
^
1\
«- ~*'
300
Before Taxes
' *?**"
. V^-'**"^
i ii i 1 t r i i i
_
-
VX^"*"^,
•
X
i i t M11 1 i 1 i
100
(left scale) ^—^T*^\
V
Nondurable
Manufactures
S****!ir
jS*Sj****
150
f
/ s-<*>
X^*'*T " v*^*?s;
t
160
CORPORATE PROFITS AND IVA **
420
180
Durable Manufactures
120
BANK CREDIT AND MONEY SUPPLY*
INDUSTRIAL PRODUCTION*
170
PROFITS AND COSTS
Billion $
1 1 I i i I.I I.I 1
1968
t If f t 1 1 i 1 f i
1969
Monthly (May)
'~*'
J t I t J 1 I.LM J
1970
Ml Hill
-R
1968
1969
Quarterly (l)
1970 BLS
SUKVEY OF CURRENT BUSINESS
June 1970
11
NATIONAL INCOME AND PRODUCT TABLES
1968
IV
1968
1970
1969
II
III
IV
1968
1969
IV
1968
Seasonally adjusted at annual rates
II
1970
III
IV
Seasonally adjusted at annual rates
Billions of current dollars
Billions of 1958 dollars
Table 1.—Gross National Product in Current and Constant Dollars (1.1, 1.2)
Gross national product.
-
-
Personal consumption expenditures
Durable goods
Nondurable goods
Services
-
Gross private domestic investment
Fixed investment
Nonresidential
Structures
Producers' durable equipment
Residential structures
Nonfarm
Farm
-
--
Change in business inventories, ._
Nonfarm
Farm
Net exports of goods and services
Exports
Imports
_
. -- _
_
_
Government purchases of goods and services
Federal.
National defense
Other
._
State and local
- --
865.7
932. 1
892.5
908.7
924.8
942.8
952.2
959.6
707.6
727.5
718.5
723.1
726.7
730.6
729.8
724.3
536.6
576.0
550.7
562.0
572.8
579.8
589.5
600.4
452.6
466.1
457.6
462.9
466.2
466.5
468.6
471 7
83.3
230.6
222.8
89.8
243.6
242.6
86.3
234.3
230.1
88.4
238.6
235.0
90.6
242.1
240.1
89.8
245.1
244.9
90.4
248.7
250.3
89.4
255.4
255.6
80.7
196.9
175.0
84.9
199.4
181.8
82.7
197.2
177.7
84.3
199.3
179.3
85 9
199 3
181.0
84.7
199.3
182.5
84.8
199.6
184. 2
83 3
202 8
185 5
126.3
139.4
133.9
135.2
137.4
143.3
141.8
135.0
105.7
111.8
110.9
109.9
110.8
114.3
112.2
104 9
119.0
131.4
123.4
128.6
130.5
132.5
134.0
134.2
99.1
104.8
101.4
104.0
104 8
105.0
105.5
104 3
88.8
29.3
59.5
99.2
33.4
65.8
91.5
30.1
61.4
95.3
32.3
63.0
97.8
32.1
65.7
101.1
34.7
66.4
102.5
34.5
68.0
104.0
35.6
68.5
75.8
22.7
53.2
81.4
24.0
57.4
77.3
22.9
54.4
79.4
23.9
55.5
81.0
23 3
57.7
82.4
24.6
57.8
82.8
24.3
58.6
82.8
24.7
58.1
30.2
29.6
32.2
31.7
31.9
31.4
33.3
32.8
.5
32.7
32.2
.5
31.4
30.9
.5
31.6
31.0
.5
30.2
29 7
23.3
22.8
23.4
23.0
24.1
23.7
24.6
24.2
23 8
23.4
22.6
22.2
22.7
22.3
21.5
21.1
7.3
7.4
—.1
8.0
7.8
.2
10.5
10.7
—.2
6.6
6.6
.0
6.9
6.7
.2
10.7
10.3
.4
7.7
7.4
.4
8
4
4
6.6
6.7
-.1
6.9
6.7
.2
9.6
9.8
5.9
5.9
.0
6.0
58
.2
9.3
8.9
.4
6.7
64
.3
.6
.3
.3
2.5
2.1
1.2
1.5
1.6
2.7
2.7
3.0
.9
.0
-.2
— .3
— .5
.4
.5
.9
50.6
48.1
55.3
53.2
50.6
49.4
47.6
46.1
57.1
55.5
57.8
55.2
58.6
55.9
60.8
57.8
45.6
44.7
48.0
48.0
45.5
45.7
41.9
42.2
50 4
50 8
50.2
49.8
49.7
49.2
51.5
50.6
200.3
214.6
206.7
210.0
212.9
217.0
218.3
221.2
148.4
149.7
150.2
150.6
150.2
149.4
148.4
146.7
99.5
78.0
21.5
101.9
79.2
22.7
101.9
79.3
22.5
101.6
79.0
22 6
100 6
78 5
22 1
103.2
80.3
22 9
102.3
79.2
23 1
102.3
78.9
23 3
78.9
76.0
79.4
78.3
76 3
75.5
73 9
71.2
100 7
112 7
104 8
108 5
112 3
113 8
116 0
118 9
69 5
73 7
70 8
72 3
73 9
73 9
74 6
75 5
Table 2.—Gross National Product by Major Type of Product in Current and Constant Dollars (1.3, 1.5)
Gross national product.. .
865.7
932.1
892.5
908.7
924.8
942.8
952.2
959.6
707.6
727.5
718.5
723.1
726.7
730.6
729.8
724.3
Final sales ._Change in business inventories
858.4
7.3
924.1
8.0
882,0
10.5
902.1
6.6
917 9
69
932 0
10 7
944 5
77
958 9
g
701.0
6.6
720.6
6.9
709.0
9.6
717.2
5.9
720 7
60
721.3
9.3
723.1
6.7
723.6
.6
431.1
459 8
443.5
447.9
456.5
465.9
468 8
467 1 381.3
392.7
388.2
389.1
391.6
395.9
394.2
387.9
423.7
7.3
451.8
8.0
433.0
10.5
441 3
6.6
449 6
69
455 2
10 7
461 1
7.7
466 3
g
374 7
6.6
385.8 378.7 383.2
5.9
6.9 ' 9.6
385 7
60
386.6
9.3
387.5
6.7
387 3
.6
176.7
171 4
5.3
191.7
186 2
5.5
184.0
176 6
7.4
186 4
181 6
4 8
190 3
185 5
4 9
195 4
187 8
76
194 6
189 9
4 7
188.7
190.1
-1.3
162 8
158 0
4 7
171 9
167 2
47
167.8
161 2
6 5
169.0
164 8
4.2
171 4
167 3
41
174.7
168 1
6.6
172.6
168 6
4.0
165.8
167.0
-1.2
254 4
252 3
2.0
268 1
265 6
2.5
259 5
256 4
3.1
261 5
259 7
18
266 2
264 1
21
270 5
267 4
31
274 2
271 2
30
278 3
276 2
2.1
218 6
216 7
1.9
220 8
218 6
2 2
220 5
217 5
3.'0
220 2
218 4
1.7
220 2 221.2
218 4 218 5
2.7
19
221.5
218 9
2.6
222.1
220.2
1.8
347.5
377 4
358.5
365 8
373 4
381 6
388 6
397.3
259 9
267 1
262.7
264.6
267 0
267.6
269.3
270.6
87.1
95 0
90.6
94.9
94 8
95.3
94 8
95 2
66.4
67 7
67.5
69.3
68.0
67.1
66.3
65.8
726 7
730.6
729.8
724.
662.
Goods outputFinal sales
Change in business inventories
_ ._
Durable goods..
Final sales
Change in business inventories
Nondurable goods
Final sales
_
Change in business inventories
__ _
Services
Structures
Table 3.—Gross National Product by Sector in Current and Constant Dollars (1.7, 1.8)
Gross national product
865.7
Private
Business
Nonfarm
Farm ...
_
Households and institutions
Rest of the world
General government. _.
-^
932 1
892.5
908.7
924 8
942.8
952 2
959 6
707.6
727 5
718.5
723.1
770-5
828 0
794 0
808 5
822 7
836 5
844 3
847 8
647 9
666 5
658 3
662 6
665 8
669.4
668.2
740 6
715 7
24 9
795 3
768 3
27 0
763 1
738 4
24 7
776 7
751 1
25 7
790 5
763 0
27 6
803 6
775 9
27 7
810 3
783 3
26 9
812 3
784 4
97 Q
627 5
604 2
23 3
645 2
621 7
23 5
637 5
614 6
22 9
641 5
617 8
23 7
644 8
621 1
23 7
648 2
624 1
24 1
646 5
624.0
22 6
639. (
616.
23
25 2
28 6
26 0
27 2
28 3
28 9
30 0
31 1
15 9
17 3
16 2
16 8
17 2
17.4
17.8
18.1
4 7
4,1
4 9
4 5
39
41
4 0
4 3
4 5
39
4 6
4 3
37
39
3.8
4.
95.2
104.1
98.5
100.2
102.1
106.2
108.0
111.8
59.7
61.0
60.2
60.5
60.9
61.1
61.6
62.
SURVEY OF CURRENT BUSINESS
12
1968
1969
IV
1970
1969
1968
II
I
June 1970
III
IV
1968
I
1968
1969
Seasonally adjusted at annual rates
865.7 932.1 892.5 908.7 924.8 942.8 952.2 959.6
Less: Capital consumption allowances. 73.3
Equals* Net national product -
77.9
74.6
75.9
77.2
78.6
79.9
81.3
792.4 854.2 817.9 832.8 847.6 864.2 872.3 878.4
Less: Indirect business tax and nontax
77.9 86.6 81.4 83.3 85.7 88.0 89.4 91.0
liability
3.5 3.6 3.6
3.6
3.7
3.5
3.4
3.6
Business transfer payments
—2.5 -5.9 -3.4 -4.2 -6.5 -6.9 -6.0 -7.3
Statistical discrepancy Plus: Subsidies less current surplus of
government enterprises.
.8
1.1
.9
1.1
.9
1.1
1.2
1.7
714.4 771.0 737.3 751.3 765.7 780.6 786.5 792.6
Equals* National income
Less: Corporate profits and inventory
valuation adjustmentContributions for social insurance
.
Wage accruals less disbursements
87.9
88.2
90.3
89.5
89.2
88.8
85.2
79.7
47.0
54.4
48.6
52.7
53.8
55.1
56.1
57.3
.0
.0
.0
.0
.0
.0
.0
2.5
61.9
58.1
60.1
61.3
62.5
63.6
66.4
28.7
24.6
3.6
27.4
23.8
3.5
27.9
23.8
3.5
28.5
24.3
3.6
28.9
24.9
3.6
29.7
25.2
3.6
30.2
25.2
3.7
Plus: Government transfer payments
55.8
to persons
Interest paid by government
26.1
(net) and by consumers
Dividends - _ .
- 23.1
3.4
Business transfer payments
687.9 747.2 711.2 724.4 740.5 756.5 767.4 778.6
Equals: Personal income
714.4 771.0 737.3 751.3 765 7 780 6 786 5 792 6
513.6 564.3 532.3 546 0 558 2 571 9 581 1 592 0
465.0 509.9 482 1 493 3 504
369 0 405 3 382 8 392 5 402
18.0 19 2 18 3 18 2 18
78.0 85.4 80.9 82 5 84
Wages and salaries
Private
Military
Government civilian..
Supplements to wages and salaries- .. 48.6
Employer contributions for social
24.4
insurance
Dollars
Personal consumption expenditures. 30.2
5.3
Producers' durable equipment
Change in dealers' auto inventories. . 1.0
Net exports . . .
Exports, .
Imports
...
36.6
31.7 31.4
5.5
5.6
.1 1.5
31.7
34.5
38.0
36.3
30.9 31.4
5.4
5.5
1.1 -1.4
32.1
5.6
1.2
32.4 29 0
5.7
5.1
-.5 — 1 3
-.8 -1.2 -1.2
2.0
2.3
2.0
3.2
2.8 3.4
-.2 -1.4 -1.4 -1.7 — 1. 5
2. 0
2.3
2.0
2.3 2.4
2.5 3.7 3.8 3.6
34
32.4
4.3
33.4
4.6
Addenda:
New cars, domestic *
New cars foreign
32.3
5.6
33.9
4.7
30.7
5.4
34.2
5.5
30.9
7.0
27 o
62
Billions of 1958 dollars
Gross auto produ ct
l
35.1
Personal consumption expenditures. 29.4
Producers' durable equipment
5.2
Change in dealers' auto inventories.. 1.0
Net exports
Exports
Imports
35.0
36.2
30.3 30.2
5.4
5.4
.1 1.5
-.8 -1.2 -1.2
2.0
2.2
1.9
2.8 3.4
3.2
36.2
50.2
52.7
53.8
55.0
56.1
57.1
25 3
27 3
27 9
28 6
29 i
26 2
25 0
25 5
26 0
26 4
26 9
29 6
07 K
63 8
66.3
64 1
64 6
66 5
67 3
66 7
66 6
Business and professional
49 2
Income of unincorporated enterprises
_
_
49.9
Inventory valuation adjustment _ . —.7
50 2
49 7
49 7
50 1
50 5
50 4
50 1
Farm .
14.6
16.1
14.4
14 9
16 4
16 8
16.3
16 5
Rental income of persons
21 2
21 6
21 4
21 5
21 6
21 7
21 8
22 0
Corporate profits and inventory valuation adjustment
87 9
88 2
90 3
89 5
89 2
88 8
85 2
79 7
91 1
93 7
94 5
95 5
95 4
92 5
91 4
85 6
41 3
49.8
23 1
26 7
43 3
50 5
24 6
25 9
42 9
51 6
23 8
27 8
43 9
51 7
23 8
27 9
44 1
51 3
24 3
27 0
42
49
24
24
42 4
49 0
25 2
23 8
39 1
46 5
25 2
21 3
Other labor income
Employer contributions to private pension and welfare funds
Other
Proprietors' income
..
31.5
5.5
33.3
4.6
33.0
36.4
34.5
29.7 30.1
5.3 5.4
1.1 -1.3
30.7
5.5
1.2
30.8 27. 2
5.6
-.5 —1. 2
-.2 -1.4 -1.4 -1.6 -1.4
2.3 2.3 2.4
1.9
2.5
3.7 3.8 3.5
3.4
32.7
4.5
30.0
5.3
33.4
5.3
29.9
6.8
1. The gross auto product total includes Government purchases.
2. Differs from the gross auto product total by the markup on both used cars and
foreign cars.
20.1
4.1
51.1
—.9
-3.2 -5.6 -4.2
28 0
30.6
29 3
8
7
9
9
-6.1 -6.2 -3.7 -6.2 -5.9
29 8 30 3 30 9 31 e 32 3
Table 7.—National Income by Industry Division (1.11)
Agriculture, forestry, and fisheries
Mining and construction
Manufacturing
Nondurable goods
Durable goods -
714.4 771.0 737.3 751.3 765.7 780.6 786.5 792.6
21.9 23.9 21.9 22.6 24.2 24.5 24.1 24.5
42.9 48.0 44.4 45.9 47.8 48.6 49.7 49.9
215.4 229.0 222.7 225.3 228.9 231.6 230.3 225.5
82.9 88.1 85.4 86.1 88.3 88.5 89.6 90.1
132.5 140.9 137.3 139.1 140.5 143.2 140.8 135.3
Transportation
. . . 27.2 29.0 27.8 28.2 28.9 29.3 29.7 30.3
C ommunication
14.2 15.5 14.9 15.3 15.6 15.4 15.6 15.5
Electric, gas, and sanitary services
13.7 14.6 13.9 14.2 14.2 15.1 14.7 14.7
105.2 112.5 107.8 109.5 111.7 113.9 114.8 116.5
Wholesale and retail trade
78.2 85.2 80.9 82.9 84.4 86.0 87.4 88.2
Finance, insurance, and real estate
Services
86.1 94.4 89.3 92.1 93.6 95.0 97.1 99.6
Government and government enter105.0 114.8 108.7 110.6 112.5 117.1 119.1 123.7
prises
Rest of the world
4.3
4.7
4.1 4.9
4.5 3.9
4.1 4.0
All industries, total
Financial institutions
Mutual.
Non financial corporations
32.1
4.3
24 2
-r ui o ^
-. » *
Table 8. —Corpora te Profits (Before Tax) and Inventory Valuation
Adjustment by Biroad Industry Groups (6.12)
Addenda:
New cars, domestic *
New cars, foreign
0 410 2 416 6 422 3
4 20 1 19 9 20 8
0 86 6 88 5 91 8
28 2
All industries, total
Billions of current dollars
3 516 9 525 0 534 9
54.4
Inventory valuation adjustment
Gross auto product *
I
National income . -
Net interest
37.5
IV
Compensation of employees
Profits tax liability
Profits after tax
Dividends
Undistributed profits
37.5
III
Table 6.—National Income by Type of Income (1.10)
Profits before tax
35.9
II
Billions of dollars
Table 4.—Relation of Gross National Product, National Income,
and Personal Income (1.9)
-
I
IV
1970
Seasonally adjusted at annual rates
Billions of dollars
Gross national product
1969
25 9
60
Manufacturing... . . . . .
Nondurable goods
Durable goods
87.9
88.2
90.3
89.5
89.2
88.8 85.2
79.7
12.9
11.9
12.3
12.7
13.3 13.3
13.2
76.4
75.3
78.5
77.2
76.5
75.6 71.9
66.5
44.4
19.9
24.5
43.9
20.4
23.5
46.2
20.4
25.8
45.1
20.3
24.7
44.9
21.0
23.9
43.8 41.7
20.0 20.1
23.8 21.6
37.4
19.7
17.7
11.5
2.1
I 9.4
SURVEY OF CUEEENT BUSINESS
June 1970
1968 1969
I
IV
1970
1969
1968
II
13
III
IV
1968
1968
I
1969
l
Table 9.—Gross Corporate Product (1.14)
_
494.2 532.8 510.7 519.9 530.1 539.3 542.1
Corporate profits and inventory
valuation adjustment
Profits before tax
Profits tax liability
Profits after tax
Dividends ._
Undistributed profits. _.
Inventory valuation adjustment..
Cash flow, gross of dividends
Cash flow, net of dividends
Gross product originating in
financial institutions..
541.8
45.9
49.1
46.7
47.7
48.6
49.6
50.5
51. 5
44.8
49.0
46.6
47.3
48.5
49.8
50.5
51. 4
1.2
83.9
87.2
41.3
45.8
21.5
24.3
-3.2
1.6
1.4
1.6
1.7
438. 9
361.
322.26
39. 4
1.8
1.8
84.2 86.2 85.2 85.3 84.8 81.3
89.7 90.4 91.3 91.6 88.5 87.4
43.3 42.9 43.9 44.1 42.8 42.4
46.4 47.5 47.4 47.5 45.7 45.1
22.9 22.2 22.1 22.8 23.3 23.6
23.5 25.3 25.3 24.7 22.5 21.5
-5.6 -4.2 -6.1 -6.2 -3.7 -6.2
75. 4
81. 4
39. 1
42. 2
23. 5
18. 8
—5.9
1.5
Personal income
Other labor income
.
482.1
187.8
150.7
113.1
82.0
99.2
493.3
191.5
153.3
115.5
85.4
100.8
504.3
196.5
156.6
118.3
87.1
102.4
516.9
200.5
159.9
121.1
88.7
106.6
525.0
202.3
160.5
123.1
91.2
108.4
532.4
202.0
159.9
126.2
94.1
110.1
26.2
25.0
25.5
26.0
26.4
26.9
27.5
66.3
50.2
16.1
64.1
49.7
14.4
64.6
49.7
14.9
66.5
50.1
16.4
67.3
50.5
16.8
66.7
50.4
16.3
66.6
50.1
16.5
Rental income of persons
Dividends
Personal interest income
21.2
23.1
54.1
21.6
24.6
59.4
21.4
23.8
56.7
21.5
23.8
57.6
21.6
24.3
58.8
21.7
24.9
59.8
21.8
25.2
61.3
22.0
25.2
62.5
95.3
72.1
95.6
72.0
93.7
70. 3
22.8 26.0 23.9
24.9
25.6
26.4
26.9
27 . 0
Less: Personal contributions for
social insurance
Less: Personal tax and nontax payments
...
59.2
65.5
61.6
63.6
64.9
66.1
67.2
70.1
30.3
33.1
31.8
32.4
32.9
33.3
33.7
34.3
2.1
7.2
19.7
2.1
8.2
22.0
2.0
7.3
20.5
2.2
7.8
21.3
1.9
8.2
21.9
2.2
8.4
22.2
2.2
8.6
22.7
2.9
9.0
23.9
22.6
26.2
23.3
25.4
25.9
26.6
27.0
27.7
97.9 117.5 107.0 114.2 118.5 117.5 119.9
118.2
Equals : Disposable personal income. . .590.0 629.7 604.3 610.2 622.0 639.0 647.5
660.4
616.9
600.4
15.7
44.6
47.7
45.4
46.4
47.3
48.2
49.1
50. 0
43.0
47.0
44.7
45.3
46.5
47.8
48.5
49. 3
Income originating in nonfinancial
383.8 412.1 396.7 403.3 410.7 416.9 417.6
corporations. .
415. 4
551.6 592.0 566.2 577.7 588.8 596.0 605.8
Less: Personal outlays
Personal consumption expenditures- 536.6 576.0 550.7 562.0 572.8 579.8 589.5
14.2 15.3 14.7 15.0 15.2 15.4 15.5
Interest paid by consumers _ .
Personal transfer payments to foreigners
.8
.8
.7
.8
.7
.8
.7
340.5
303.7
Equals: Personal
saving
aisavmg
Compensation of employees
Wages and salaries
Net interest
..
Corporate profits and inventory
valuation adjustment
Profits before tax
Profits tax liability
Profits after tax
Dividends
Undistributed profits
Inventory valuation adjustment- _.
Cash flow, gross of dividends...
Cash flow, net of dividends
300.6 328.8 311.0 318.7 326.2 333.2 337.3
268.6 293.4 278.2 284.2 291.1 297.3 300.9
31.9 35.5 32.8 34.5 35.1 35.8 36.4
10.9
12.0
72.4 71.3
75.6 76.8
35.6 36.7
40.0 40.1
20.4 21.7
19.6 18.4
-3.2 -5.6
84.6
64.2
87.8
66.1
-'
12.4
19
1Z
74.3 72.9 72.6 71.6 67.9
78.5 79.0 78.8 75.3 74.1
37.0 37.7 37.7 36.1 35.5
41.5 41.3 41.2 39.2 38.6
20.9 20.9 21.5 22.0 22.3
20.6 20.4 19.6 17.2 16.3
-4.2 -6.1 -6.2 -3.7 -6.2
Rf)
11.4
86.9
66.0
11.7
87.6
66.8
11.9
88.4
66.9
12.2
87.4
65.4
87.7
65.4
„
ngg
_5* 9
85 9
63*7
427 0
Personal saving rate,8 percent
37.6
38.0
.8
41.7
43.5
497.6 509.5 502.1 502.6 506.2 514.1 514.8
2,933 3,099 2,991 3, 014 3,065 3,140 3,172
2,474 2,507 2,485 2,482 2,494 2,526 2,522
518.8
3,228
2,536
6.5
6.0
6.3
32.5
5.3
33.3
5.3
43.1
6.7
6.4
6.6
Table 11.—Personal Consumption Expenditures by Major Type (2.3)
Personal consumption expenditures
536.6 576.0 550.7 562.0 572.8 579.8 589.5
1 206
H7
11 c
•J1S
nsn
•146
. 076
.070
600.4
83.3
89.8
86.3
88.4
90.6
89.8
90.4
89.4
Automobiles and parts.
37.0
Furniture and household equipment. 34.2
12.1
Other.
40.4
36.0
13.5
39.0
34.6
12.8
39.4
35.5
13.6
40.0
36.8
13.8
40.8
35.8
13.2
41.3
35.8
13.3
38.3
37.3
13.9
230.6 243.6 234.3 238.6 242.1 245.1 248.7
255.4
115.0 119.8 116.4 118.4 119.1 119.9 121.7
46.3 49.9 47.3 48.1 50.0 50.8 50.8
19.1 21.3 19.5 20.4 21.0 21.8 22.0
50.1 52.7 51.1 51.8 52.0 52.7 54.2
125.9
51.0
22.8
55.7
222.8 242.6 230.1 235.0 240.1 244.9 250.3
255.6
77.4 83.7 79.8 81.3 82.8 84.4 86.4
31.2 33.5 31.9 32.7 33.1 33.9 34.1
16.1 17.5 16.5 17.1 17.3 17.7 17.9
98.1 107.9 101.8 103.9 106.9 108.8 111.9
88.3
35.0
18.4
113.9
_, , , .
Food and beverages. __
uiotmng ana snoes
Gasoline and oil
.. _.
Other
1. Excludes gross product originating in the rest of the world.
2. This is equal to the deflator for gross product of nonfinancial corporations, with the dejcimal
point shifted two places to the left.
3. Personal saving as a percentage of disposable personal income.
Addenda:
Disposable personal income :
Total, billions of 1958 dollars
Per capita, current dollars
Per capita 1958 dollars
Durable goods.
Dollars
Current dollar cost per unit of
1958 dollar gross product
originating in nonfinancial
corporations *
1.133 1.174 1.145 1.157 1.168 1.181 1.191
Capital consumption allowances
.107 .111 .107 .108 .109 .111 .114
Indirect business taxes plus transfer
payments less subsidies
.103 .109 .105 .106 .108 .110 .112
Compensation of employees
.723 .762 .732 .745 .755 .767 .780
Net interest
.026 .028 .027 .027 .028 .028 .029
Corporate profits and inventory valuation adjustment
.174 .165 .175 .170 .168 .165 .157
Profits tax liability
.086 .085 .087 .088 .087 .083 .082
Profits after tax plus inventory valuation adjustment. _ .088 .080 .088 .082 .081 .082 .075
38.4
™' 0
Billions of 1958 dollars
Gross product originating in
415.9 431.6 425.1 427.7 431.9 434.3 432.5
nonfinancial corporations
778.6
63.8
49.2
14.6
96.1
73.3
514.8
509.9
197.7
157.6
119.5
88.1
104.5
24.2
95.1
73.0
Gross product originating In
471.4 506.9 486.8 495.0 504.5 512.8 515.2
nonfinancial corporations.
C api tal consumpti on allowances
Indirect business taxes plus transfer
payments less subsidies
__
I
Proprietors' income
Business and professional
Farm
94.2
72.1
95.5
72.6
IV
687.9 747.2 711.2 724.4 740.5 756.5 767.4
Wage and salary disbursements
465.0
Commodity-producing industries- . 181.5
Manufacturing
145.9
Distributive industries .
109.2
Service industries
78.3
Government
96.0
Transfer payments
Old-age, survivors, disability, and
health insurance benefits
State unemployment insurance
benefits
Veterans benefits
Other
91.7
70.2
III
Table 10.—Personal Income and Its Disposition (2.1)
Income originating in corporate busi403.5 434.7 417.4 425.0 433.0 439.9 441.0
ness
318.4 348.9 329.8 338.2 346.0 353.4 358.0
Compensation of employees
284.3 311.0 294.7 301.3 308.5 315.1 319.1
Wages and salaries
34.1 37.9 35.1 36.9 37.6 38.3 38.9
Supplements
Net interest
II
Billions of dollars
Billions of dollars
Gross corporate product . .
I
1970
Seasonally adjusted at annual rates
Seasonally adjusted at annual rates
Capital consumption allowances
Indirect business taxes plus transfer
payments less subsidies
IV
1969
Services
.
Housing
Household operation
Transportation..
other..
:
:::_:_
Table 12. — Foreign Transactions in the National Income and
Product Accounts (4.1)
Receipts from foreigners
Exports of goods and services...
Capital grants received by the United
States. ...
Payments to foreigners
Imports of goods and services
50.6
55.3
50.6
47.6
57.1
57.8
58.6
61.6
50.6
55.3
50.6
47.6
57.1
57.8
58.6
60.8
.0
.0
.0
.0
.0
.0
.0
.9
50.6
55.3
50.6
47.6
57.1
57.8
58.6
61.6
48.1
53.2
49.4
46.1
55.5
55.2
55.9
57.8
Transfers to foreigners
Personal
Government .
2.9
.8
2.1
2.7
.8
2.0
3.1
.7
2.4
2.4
.7
1.7
2.8
.7
2.1
2.6
.8
1.8
3.0
.8
2.2
2.7
.8
1.9
Net foreign investment
-.3
-.6 -1.9 -1.0 -1.2
.0
-.3
1.2
SURVEY OF CURRENT BUSINESS
14
1969
1968
IV
II
I
1968
1970
1969
1968
June 1970
IV
III
1968
I
1969
IV
Table 13.—Federal Government Receipts and Expenditures (3.1, 3.2)
Federal Government expenditures
93.8
40.7
96.9
41.0
95.0
39.8
96.7
39.3
94.4
36.2
Personal consumption expenditures
18.0
40.5
18.8
46.9
18.5
41.7
18.5
45.6
18.6
46.4
19.1
47.5
19.1
48.1
19.1
49.0
-. . - .
181.5 192.0
187.4
52.7
50.9
1.8
53.9
51.7
2.2
55. 8
53. 9
1,9
19.0
19.0
19.3
19.8
22.0
23.6
12.2
12.5
12.9
13.1
13.7
14,0
Grants-in-aid to State and local governments
18.3
20.0
Net interest paid
11.6
13.1
.
. -
198.4
52.1
50.0
2.1
50.0
47.6
2.4
-
188.5 189.3 193.6 196.7
101.6 100.6 103.2 102.3 102.3
79.0 78.5 80.3 79.2 78.9
22.6 22.1 22.9 23.1 23. 3
50.8
49.1
1.7
52.4
50.4
2.0
IV
I
122.34 128.12 124.22 125.68 127.26 129.05 130.48 132.50
202.8 201.3 203.3 198.7
87.4
39.8
47.8
45.7
2.1
Transfer payments
To persons
To foreigners (net)
Gross national product
198.6
95.6
40.2
99.5 101.9 101.9
Purchases of goods and servicesNational defense
... 78.0 79.2 79.3
22.7 22.5
21.5
Other
III
Table 16.—Implicit Price Deflators for Gross National Product (8.1)
79.5
38.3
176.3 201.5 187.3
II
Index numbers, 1958=100
Billions of dollars
Personal tax and nontax receipts
Corporate profits tax accruals
Indirect business tax and nontax
accruals
Contributions for social insurance. ..
I
1970
Seasonally adjusted
Seasonally adjusted at annual rates
Federal Government receipts. .
1969
Durable goods
Nondurable goods . .
Services
118.6 123.6
120.4 121.4 122.9 124.3 125.8
127.3
103.3 105.7 104.5 104.9 105.5 106.0 106.6 107.4
117.1 122.2 118.8 119.8 121.5 123.0 124.6 125.9
127.3 133.5 129.5 131.0 132.7 134.2 135.9 137.7
Gross private domestic investment. . . .
120.0 125.4 121.7 123.7 124.5 126.2 127.0 128.7
Fixed investment
Nonresidential..
..
117.1 121.8 118.4 120.1 120.8 122.7 123.7 125.6
Structures
129.3 139.1 131.4 135.3 137.8 141.0 142.1 143.8
Producers' durable equipment.. 111.9 114.6 113.0 113.5 113.9 114.9 116.1 117.8
Residential structures
Nonfarm
Farm
129.7 137.5 132.4 135.3 137.1 138.8 139.1 140.5
129.8 137.7 132.5 135.4 137.2 138.9 139.3 140.6
125.9 130.7 126.1 127.5 130.4 132.3 132.7 134.0
Change in business inventories
Net exports of goods and services
Subsidies less current surplus of government enterprises
4.3
4.6
4.4
4.6
4.4
4.6
Less: Wage accruals less disbursements
.0
.0
.0
.0
.0
.0
Surplus or deficit (—), national
-5.2
income and product accounts
9.5
-.1
10.1
13.5
7.7
4.8
5,3
.0 *? 5
6.6
.3
Exports
Imports
110.9 115.1 111.3 113.5 113.4 115.2 118.0 118.1
107.6 110.8 108.2 109.2 109.2 110.8 113.7 114.2
Government purchases of goods and
services
135.0 143.4 137.6
Federal...
State and local
.. ..
139.5 141.8 145.3
147.1 150.7
126.2 134.2 128.3 129.8 131.9 136.8 138.4 143.6
145.0 152.9 148.1 150.1 151.9 153.9 155.6 157.5
Table 14.—State and Local Government Receipts and Expenditures
(3.3, 3.4)
State and local government receipts
106.2
Table 17.—Implicit Price Deflators for Gross National Product by
Major Type of Product (8.2)
120.3 111.4
18.4 21.9
Personal tax and nontax receipts
3.0 3.1
Corporate profits tax accruals
Indirect business tax and nontax
59.9 67.8
accruals
Contributions for social insurance. .. 6.5 7.5
18.3 20.0
Federal grants-in-aid
20.5
3.1
21.5
3.1
22.5
3.0
23.2
3.0
23.8
2.9
62.9
6.9
19.0
64.8
7.1
19.0
67.1
7.4
19.3
68.9
7.7
19.8
70.3
8.0
22.0
71.9
8.3
23.6
State and local government expendi107.6 121.0 112.2
tures
--. -.
Purchases of goods and services
100.7 112.7 104.8
10.0 11.5 10.5
Transfer payments to persons
.4
.4
Net interest paid
.3
Less: Current surplus of government
3.4 3.5
enterprises
3.5
Surplus or deficit (— ), national
-1.5
income and product accounts
-.6
114.5 118.5 121.9 126.5 130.5
19.5
3.1
-.8
Gross national product _
Goods output.
113.0 117.1 114.2 115.1 116.6 117.7
Durable goods
Nondurable goods._
Services
116.3 120.5 122.2
124.9 128.4
108.5 112.3 113.8 116.0 118.9
11.0 11.3 11.6 11.9 12.5
.4
.4
.4
.4
.5
3.5
-1.8
3.5
-2.1
3.6
3.5
3.6
-.3
1.6
2.1
Structures
Gross private saving.
135.1 135.9 136.3
130.2
131.3
142.8 139.3 140.1
32.5
27.9
33.3
27.0
43.1
24.9
Government surplus or deficit (—),
national income and product
accounts
-6.7
Federal
State and local
Capital grants received by the United
States
_..
Gross investment.
5.2
1.5
-.9
9.5
-.6
-.1
-.8
.0
41.7
23.8
43.5
21.3
-6.1 -6.2 -3.7 -6.2 -5.9
47.7
48.6
49.6
50.5
51.5
28.2
.0
28.6
29.0
.0
29.4
.0
29.8
.0
8.3
11.4
7.4
8.2
2.4
10.1 13.5
-1.8 -2.1
7.7
-.3
6.6
1.6
.3
2.1
.0
.0
125.9 138.8 132.0
134.2 136.2 143.3 141.5 136.2
Gross private domestic investment. 126.3 139.4 133.9
Net foreign investment..
-.3
-1.9
135.2 137.4 143.3 141.8 135.0
-1.0 -1.2
.0 -.3 1.2
Statistical discrepancy.
-2.5
-3.4
-4.2 -6.5
-6.9 -6.0
-7.3
*National defense purchases, $1.7 billion; other purchases, $0.4 billion; subsidies less current
surplus of government enterprises, $0.4 billion.
138.2
139.8 |142.6 144.3 146.8
131.2 140.3 134.1 137.0
139.4 142.0 143.1 144.8
Addendum:
Gross auto product.
102.5
104.4 103.6
103.7
104.4 104.4 105.1 106.8
Table 18.—Implicit Price Deflators for Gross National Product by
Sector (8.4)
Private
Personal saving
38.4
38.0
Undistributed corporate profits
27.8
26.7
Corporate inventory valuation adjustment
-3.2 -5.6 -4.2
Corporate capital consumption
allowances
45.9 49.1 46.7
Noncorporate capital consumption
allowances
27.4 28.8 27.9
Wage accruals less disbursements
.0
.0
.0
118.9 120.4
108.5 111.5 109.7 110.3 111.1 111.9 112.7 113.8
116.4 121.4 117.7 118.8
123.8 125.3
133.7 141.3 136.4
_
Gross national product
Table 15.—Sources and Uses of Gross Saving (5.1)
122.34 128.12 124.22 125.68
68 127.26 129.05 130.48 132,i.50
122.34 128.12 124.22 125.68 127.26 129.05 130.48 132.50
118.9 124.2 120.6 122.0
123.6 125.0
126.4 128.0
Business
Nonfarm
Farm. . .
118.0 123.3 119.7 121.1 122.6 124.0 125.3 126.9
118.5 123.6 120.1 121.6 122.8 124.3 125.5 127.2
106.8 114.7 107.9 108.5 116.3 115.0 119.3 119.6
Households and institutions .
158.6 185. 3
General government
159.4
170.6 163.6 165.6 167.5 173.7
175.4 180.5
HISTORICAL DATA
Historical national income and product data are available
from the following sources:
1965-68: July 1969 SURVEY OF CURRENT BUSINESS.
1964: July 1968 SURVEY OF CURRENT BUSINESS.
1929-63: The National Income and Product Accounts of the
United States, 1929-65, Statistical Tables (available from any
U.S. Department of Commerce Field Office or from the Superintendent of Documents, U.S. Government Printing Office,
Washington, D.C. 20402, price $1.00 per copy).
Plant and Equipment Expenditure Expectations
Business capital spending programs
for 1970 have been revised downward.
The expected rise from 1969 is now 7.8
percent as against 9.7 percent expected
in February. Spending rose $0.4 billion
in the first quarter and is expected to
rise about $2J^ billion in both this
quarter and the next, with little change
expected in the fourth quarter.
BUSINESSMEN plan to spend $81.4
billion 1 on new plants and equipment in
1970, an increase of $5.9 billion, or 7.8
Table 1.—Plant and Equipment Expenditures, Annual Percent Changes, 1969-70
Expected 1970
Actual as reported in:
1969
Feb.
All industries !
Manufacturing 1
- --
Durable goods1
Primary metals
Electrical machinery
Machinery except electrical
Transportation equipment
Stone, clay, and glass
Nondurable goods1
Food including beverage. Textile
.— Paper..
_.
Chemical
Petroleum
Rubber
_
Nonmanufacturing _ .. __
Mining
Railroad
Air transportation. . _
Other transportation
Public utilities
Communication
Commercial and other
___
May
11.5
9.8
7.8
11.7
9.2
3.7
13.0
-3.8
14.4
9.6
6.8
13.9
3.0
3.8
15.5
21.1
18.9
7.2
11.5
24.0
-9.4
13.6
-14.3
-1.7
10.3
17.5
18.0
19.9
9.4
7.3
11.2
8.8
10.0
11.3
3.9
20.7
5.6
-9.3
4.5
13.0
-11.3
6.1
8.1
.9
-9.9
11.4
10.1
10.7
14.2
28,, 5
-2.1
6.2
13.9
21.6
6.0
.4
20.7
12.9
-3.0
14.4
15.2
5.3
1.0
7.0
25.9
-10.6
17.0
15.3
5.3
percent, over 1969. Outlays in the
first quarter were up one-half of 1
percent from the fourth quarter. They
are expected to rise 3 percent in both
the second and third quarters but to
show little change in the final quarter
of 1970.
The investment expectations reported in late April and May in the
OBE-SEC regular quarterly survey
indicate a scaling down of the programs
reported 3 months earlier. The current
projection for the year as a whole is 2
percent below the $82.9 billion 2 estimated in February. First quarter expenditures, at a seasonally adjusted
annual rate of $78.2 billion, were $1%
billion, or 2 percent, less than expected
in the previous survey. The expectation for the second quarter has been
reduced by 1% percent and that of the
second half by 2 percent.
Reductions in 1970 capital spending
programs from those reported 3 months
earlier were pronounced in manufacturing, extending to both the durable
and nondurable goods groups. For nonmanufacturing as a whole, projected
outlays for the year are slightly larger
than 3 months earlier, reflecting upward revisions by public utilities and
airlines that more than offset reductions
by railroads and other transportation
companies.
quarter are mixed and total outlays
are expected to show little change in
that quarter. Nevertheless, if present
plans are realized, expenditures will be
5 percent higher in the second half of
1970 than in the first half—a gain
considerably larger than the 2 percent
increase indicated for the current half
year.
CHART 8
Expected and Actual Expenditures
for New Plant and Equipment
Billion $
100
ALL INDUSTRIES
Expected as of:
80 -
Feb.
May
Actual:
—
—J
•"
M
60 -
-
40 -
-
20 -
-
0
MANUFACTURING
20 -
Rise projected through third quarter
1. Includes industries not shown separately.
Sources: U.S. Department of Commerce, Office of Business
Economics, and the Securities and Exchange Commission.
The major industries generally expect
spending to rise through the third
quarter, but movements in the fourth
1. The reported figures for expectations are adjusted for
systematic biases in survey responses. The adjustment procedures are described on pages 36 through 39 of the February
issue of the SURVEY or CURRENT BUSINESS. Before adjustment, 1970 expenditures were expected to be $79.68 billion
for all industries, $33.03 for manufacturing, and $46.65 for
nonmanufacturing. The adjustments were applied separately
to each major industry; the net effect was to lower the manufacturing total by $0.18 billion and to raise the nonmanufacturing total by $1.94 billion.
2. This figure is a correction of the $83.58 billion reported
in the March issue of the SURVEY and shown in table 6 on
page 19 of that issue. The correction results from the elimination of errors made in the computation of the factors used to
adjust for systematic biases in the expectations for the second
half of the year reported by business each February. For the
same leason, corrections have been made in the spending
expectations for the full year calculated from the February
surveys in the years 1947-69. The corrected figures are shown
on page 19 of this issue of the SURVEY. They supersede the
figures shown in table 5 on page 37 of the February issue.
60
NONMANUFACTURING
40 -
20 -
1965
66
67
68
69
70
Data: OBE-SEC
U.S. Department of Commerce, Office of Business Economics
70-6- 8
15
SUKVEY OF CUEEENT BUSINESS
16
The rise expected in the second half
of 1970 is centered in nonmanufacturing. All the major nonmanufacturing
industries project increases in that
period, with transportation and public
utility firms planning the largest percentage gains. Most nonmanufacturing
industries also show increases for the
current half year, the exceptions being
railroads, other transportation firms
except airlines, and commercial firms.
Manufacturers are projecting outlays
to rise slightly in the second half of
1970, after showing little change in the
first half. Increases in both halves of
the year are expected by manufacturers
of machinery, nonferrous metals, and
chemicals, while declines in both halves
are scheduled by motor vehicle, aircraft, textile, and rubber companies.
Petroleum companies expect outlays to
rise in the second half after falling in
the first.
June 1970
Investment determinants weakening
Most factors thought to be influential
determinants of near-term investment
have continued to move adversely during the early months of 1970, and their
impact is reflected in the downward revisions in spending programs. Economic
activity has continued to slow, profits
have fallen, with adverse effects on cash
Table 2.—Plant and Equipment Expenditures, 1969-70
(Billions of dollars, seasonally adjusted annual rates)
H)69
CHART 9
Plant and Equipment Programs
All industries
Billion $ (ratio scale)
Manufacturing .
Durable goods. _Nondurable goods
20
!8 „
III
DURABLE GOODS MANUFACTURING
_.
Nonmanufacturing- .
1970
IV
I
II 1
III 1
IV i
77.84
77.84
78.22
80.66
83.28
83.12
33 05
16.53
16.52
32 39
15.88
16.50
32 44
16 40
16.05
32 88
16.69
16.18
33 25
16 89
16 36
32 80
15 81
17.00
44.80
45.46
45 78
47.78
50 02
50 31
1. Expected.
Sources: U.S. Department of Commerce, Office of Business Economics, and the Securities and Exchange Commission.
20
18 _
Table 3.—Starts and Carryover of Plant and Equipment Projects, Manufacturing and
Public Utilities, 1967-70
[Billions of dollars]
NONDURABLE GOODS MANUFACTURING
Carryover 2
Starts i
12
Annual
I I I I I I I I I i I I I ! t I I
1970
II
III
IV
I
Mar. June Sept. Dec. Mar.
26.50 29.64 34.07 8.49
8.72
8.06
8.80
8.64
21.77 22.66 22.57 22.26 23.75
12.42 14.59 16.85
2.81 3.21 2.96
1.54 1.81 2.80
2.68 2.70 3.60
2.24 2.90 2.66
.66 1.06 1.08
4.19
.76
.61
.89
.73
.35
4.30
.69
.68
.95
.87
.23
4.03
.75
.75
.77
.65
.31
4.32
.75
.77
.99
.41
.18
4.42 11.38 11.70 11.70 11.43
.65 4.02 3.90 3.85 3.70
.82 1.46 1.64 1.90 2.02
.84 1.16 1.28 1.18 1.16
.78 2.84 3.02 2.90 2.60
.32
.73 .69 .73 .62
12.27
3.67
2.36
1.17
2.78
.70
14.08 15.05 17.22
2.00 2.32 2.97
.60
.53 .59
1.52 1.42 1.59
. .- 2.48 2.98 3.62
5.59 5.57 6.19
4.30
.59
.14
.46
.88
1.66
4.41
.92
.19
.35
1.06
1.35
4.03
.69
.14
.46
1.03
1.18
4.48
.77
.14
.32
.65
2.00
4.21 10.39 10.96 10.87 10.82
1.20 1.48 1.49 1.53
.66
.30 .33 .30 .27
.16
.58 1.23 1.18 1.22 1.08
.96 2.58 2.88 3.15 2.89
1.39 3.76 3.79 3.47 3.79
11.48
1.53
.30
1.29
3.10
4.04
12.58 12.86 15.16
5.30
2.54
3.56
3.77
5.63
18.68 18.23 18.76 19.30
22.39
1967
Manufacturing 8
Durable goods 8
Primary metals
Electrical machinery
Machinery except electrical
Transportation equipment *
Stone, clay, and glass
Nondurable goods 3
Food including beverage
Textile
Paper
Chemical . .
.
Petroleum
1969
1970
1969
Public utilities
1968
1969
I
10 -
Adjusted for Seasonal variation
Manufacturing 8.
8 -
7 -
TRANSPORTATION
INCLUDING RAILROADS
21.54
22.64 23.48 23.72
24.17
8.42
8.89
9.11
8.33
8.56
Durable goods 3
Primary metals
Electrical machinery
Machinery except electrical
Transportation equipment *
Stone, clay, and glass
4.04
.73
.59
.60
.80
.40
4.63
.69
.68
1.47
.72
.20
4.79
1.00
.90
.96
.67
.37
3.92
.60
.67
.92
.47
.16
4.33 11.42 12.05 12.71 12.67
.61 4.19 4.05 4.24 4.08
.78 1.39 1.56 1.95 2.09
.71 1.06 1.70 1.74 1.79
.84 2.88 2.92 2.83 2.65
.32
.78 .70 .79 .70
12.90
3.87
2.30
1.60
2.81
.76
Nondurable goods 3
Food including beverage
Textile
Paper
Chemical
Petroleum
4.39
.60
.15
.42
.89
1.76
4.26
.90
.19
.31
.84
1.34
4.32
.69
.14
.49
1.23
1.24
4.41
.83
.12
.39
.70
1.83
4.23 10.12 10.59 10.77 11.05
.71 1.22 1.52 1.54 1.65
.21
.30 .34 .30 .27
.49 1.17 1.09 1.18 1.14
.94 2.58 2.69 3.12 3.02
1.42 3.78 3.77 3.51 3.85
11.27
1.61
.33
1.20
3.13
3.99
3.70
2.96
4.71
3.94
3.95
17.33 17.37 19.21 20.20
21.12
Public utilities
.-
5 -
i i i
1966
I
I
I
1967
I
I
I
1968
t
I
t
1969
I
I
I
1970
Seasonally Adjusted at Annual Rates
* Expectations
U.S. Department of Commerce, Office of Business Economics
Data: OBE-SEC
70-6-9
1. Starts are estimated by adding changes in carryover to expenditures during the given period.
2. Carryover refers to expenditures yet to be incurred on plant and equipment projects already underway at end of period.
3. Includes data not shown separately.
4. Includes guided missiles and space vehicles.
NOTE.—Details may not add to totals because of rounding.
Sources: U.S. Department of Commerce, Office of Business Economics, and the Securities and Exchange Commission.
June 1970
SURVEY OF CUKKENT BUSINESS
17
sonal adjustment, up about $250 offset the increase reported for the premillion from the fourth quarter and ceding 3-month period. As of March 31,
$150 million from a year earlier. The companies owning 44 percent of total
increase centered in the durable goods fixed assets in manufacturing considered
industries where starts in the first their facilities "inadequate" for proquarter were up 10 percent from the spective sales in the ensuing year. The
relatively low fourth quarter figure. ratio had risen from 44 percent on
First quarter starts by nondurable September 30 to 46 percent on Decemgoods producers were down 5 percent ber 31.
from both the fourth quarter and the
The separate ratios for durables
corresponding quarter a year earlier.
and nondurables manufacturing both
The value of manufacturers' starts dropped 2 percentage points in the first
exceeded their capital expenditures in quarter, but the trends in the two secthe first quarter, and carryover conse- tors have been quite different. The
quently increased. At the end of March, "inadequate" ratio for nondurables
expenditures yet to be made by man- manufacturing has been generally risufacturers on investment projects al- ing since the recent low of 40 percent in
ready underway totaled $24.2 billion— March 1968. It reached 53 percent in
nearly $*/£ billion higher than at the December 1969—the highest since the
Manufacturing Programs
end of December and $2^ billion inception of the capacity evaluation
higher than a year earlier.
survey at the end of 1963—and was
Manufacturers expect to invest $32.8
Manufacturers7 carryover at the end still very high at 51 percent in March
billion in new plant and equipment in
of March represented three quarters of 1970.
1970, an increase of $1.2 billion, or
spending at the first quarter rate. The
In durable goods manufacturing, on
4 percent, over 1969. Durable goods
ratio was higher than it had been 3 the other hand, the "inadequate" ratio
producers plan to spend 3 percent more
months or a year earlier.
reached its peak—also 53 percent—
this year and nondurable goods proback in September 1965. It fell for 2
ducers 4% percent more. These increases Pressures on capacity ease
years thereafter, moved back up in
are much smaller than the increases
Manufacturers reported a slight de- 1968, and then turned down again. At
of 13 percent and 10 percent, respeccline in pressure on capacity between 37 percent in March 1970, the durables
tively, recorded last year.
December 31 and March 31, which just ratio was down 9 percentage points
Producers of nonferrous metals and
electrical machinery expect spending
Table 4.—Manufacturers' Evaluation of Their Capacity
increases this year of 23 percent and 15
[Percent distribution of gross capital assets]1
percent, respectively, following gains
1970
1966
19 39
19 57
19 88
nearly as large last year. Increases subDec. Mar. June Sept. Dec. Mar. June Sept. Dec. Mar. June Sept. Dec. Mar.
stantially smaller than those recorded
30
30
30
30
30
31
31
30
31
31
31
31
31
31
last year are planned by the nonplant and equipment
electrical machinery and "other dura- More
needed:
bles" (i.e., lumber, furniture, fabricated
All manufacturing2
44
46
45
43
40
41
44
46
48
47
47
43
45
45
Durable goods
41
40
44
45
44
40
49
45
39
46
45
38
39
37
metals, instruments, and miscellaneous)
30
31
30
44
41
43
31
41
33
42
41
Primary metals 3 . .
54
35
48
43
44
43
41
46
Metal fabricators2 ^
51
47
49
47
49
49
49
48
49
industries. The remaining durable goods
40
41
53
45
46
47
Nondurable goods
44
49
46
51
45
48
49
49
42
44
54
42
40
45
41
47
43
Food
including
beverage.
45
38
46
49
46
industries—iron and steel, transpor80
75
73
76
65
71
72
Chemical
78
67
56
71
58
88
68
Petroleum _
42
40
22
27
37
37
29
32
41
39
27
47
48
39
tation equipment, and stone, clay, and
glass—are now scheduling cutbacks About adequate:
All manufacturing2
49
49
50
50
50
52
52
50
48
47
48
55
53
51
from 1969 capital expenditures. For
50
44
53
49
Durable goods
55
53
53
53
48
48
48
48
47
53
42
50
Primary
metals
32
43
53
54
52
44
41
45
44
54
56
38
transportation equipment producers,
50
54
49
50
52
48
51
52
Metal fabricators2 8
46
49
48
48
48
48
52
Nondurable
goods
^
52
44
51
51
56
49
58
51
49
47
48
51
48
the planned cutbacks are substantial.
50
50
54
Food including beverage. 47
53
57
53
53
45
41
53
49
51
49
11
22
23
20
31
27
40
Chemical
26
19
33
27
25
43
31
In nondurables manufacturing, spend62
72
52
Petroleum
62
60
70
60
76
53
67
59
57
71
58
ing cutbacks are scheduled by textile Existing plant and equipment
exceeds needs:
and rubber firms, while firms in the
5
5
5
5
5
5
5
6
5
5
6
5
5
5
All manufacturing
other principal industries plan increases
7
7
7
7
7
7
7
7
7
8
9
8
8
10
Durable goods 2
,
14
16
14
15
15
Primary metals
14
16
15
14
15
15
15
15
15
smaller than those recorded last year.
5
7
5
4
3
3
3
3
3
3
3
3
3
4
Metal fabricators2 *
flow, capacity utilization rates are low,
and interest rates and capital goods
prices have reached unprecedented
levels.
Despite the deteriorating climate for
investment and the downward revisions
of programs, the latest survey still
indicates that capital spending will be
a continuing strong source of demand
in 1970. In manufacturing, particularly,
there is apparently a great desire to
install more efficient equipment to
offset rising costs—though the survey
does indicate a decline in the proportion of manufacturers' facilities considered inadequate to meet production
requirements over the next 12 months.
Starts and carryover
The value of new projects started by
manufacturers during the first quarter
of 1970 totaled $8.6 billion, after sea
Nondurable goods
Food including beverage.
Chemical
Petroleum
4
8
1
2
4
3
2
2
2
3
3
3
3
3
3
3
2
8
1
6
2
5
2
5
2
5
2
6
2
6
2
5
2
5
3
4
1
4
1
3
1
1
1
3
2
0
0
2
1
1
1
1
1
1
1
1
1. According to respondent companies' characterizations of their plant and equipment facilities, taking into account their
current and prospective sales for the next 12 months.
2. Includes industries not shown separately.
3. Includes machinery, transportation equipment, and fabricated metals industries.
Sources: U.S. Department of Commerce, Office of Business Economics, and the Securities and Exchange Commission.
SURVEY OF CUEEENT BUSINESS
18
from March 1969 and Was only 1 point
above the historical low for the series.
There has also been a divergence
between durables and nondurables producers with respect to the proportion of
assets held by firms reporting facilities
in excess of needs. While the "excess"
ratio tends to be fairly stable in both
sectors, the figure for durables manufacturers has edged up over the past
year and reached a relatively high 10
percent in March. The nondurables
ratio held at 3 percent throughout last
year and dropped to 2 percent in March
1970.
Nonmanufacturing
Investment
Nonmanufacturing companies plan
$48.6 billion of capital spending in
1970, up 10% percent from the $43.9
billion spent in 1969. Expenditures of
the group rose less than 1 percent in the
opening quarter of this year, but are
expected to rise 4% percent in both the
second and third quarters and a further
Yz percent in the closing quarter.
Electric utilities constitute one of
the strongest spots in the current
investment picture, while the gas and
other utilities are one of the weakest.
The expected $11 billion of outlay by
the electric companies would represent
an increase of nearly one-fourth over
1969, following five successive annual
gains in excess of 10 percent. The gas
and other utilities expect to spend $2.6
billion this year, 4 percent below the
1969 total. Their spending rose 5
percent last year and 27 percent in
1968, but had shown a small decline in
1967.
Utility firms as a group started $4
billion of new projects in the opening
quarter of 1970, about the same as in
June 1970
the previous quarter and 7 percent
above the corresponding quarter of
1969. Carryover of uncompleted projects rose to a record $21.1 billion at
the end of March, up $1 billion from
the end of December and $3.8 billion
from a year earlier. The ratio of
carryover to expenditures also rose
during the first quarter.
Other industries
The various types of transportation
companies are following diverse investment policies for 1970. Airlines are
stepping up their outlays to $3.2
billion, 26 percent above 1969; this
contrasts with a 2 percent decline last
year. Eailroads are also programing
an increase this year—7 percent, to a
level of $2 billion—with the rise
centered in equipment purchases. However, other transportation firms—
Table 5.—Expenditures for New Plant and Equipment by U.S. Business,1 1968-70
[Billions of dollars]
Quarterly, unadjusted
Annual
1969 19702
I
II
III
1970
1969
1968
1968
Quarterly,
IV
I
II
III
IV
I
112
seasonally adjusted annual rates
1969
1968
III 2
I
II
III
IV
I
II
III
28.37 31.68 32.85 6.15 6.99 7.13 8.10 6.58
7.92 8.16
9.12
I
112
III 2
15.96 16.44 3.06 3.36 3.54 4.16 3.36 3.98 4.03 4.59
3.23 3.35 .70 .79
88 .99 .71 .81 .81 .90
1.83 1.73 .40 .46 .52 .62 .41 .47 .45 .50
1.10 1.35 .24 .26 .29 .31 .23 .27 .28 .32
2.03 2.35 .37 .44 .43 .54 .39 .50 .49 .65
3.44 3.69 .66 .65 .67 .85 .72 .84 .86 1.01
2.76 2.37 .54 .61 .65 .68 .59 .69 .77 .71
1.65 1.44 .32 .34 .35 .35 .34 .40 .46 .44
.83 .65 .17 .21 .23 .25 .18 .22 .23 .19
1.07 1.05 .18 .23 .20 .25 .23 .28 .27 .30
3.44 3.64 .60 .66 .70 .85 .71 .86 .84 1.02
7.14 8.27 8.26
28.02 27.84 28.86 28.70 29.99 31.16 33.05 32.39 32.44 32.38 33.25
3.59 4.17 4.15 14.11 13.51 14.47 14.39 15.47 15.98 16.53 15.88 16.40 16.69 16.89
.69 .83 .87 3.31 3.21 3.50 3.39 3.37 3.31 3.20 3.09 3.28 3.36 3.42
.35 .44 .45 1.96 1.87 2.09 2.07 1.98 1.91 1.80 1.70 1.72 1.77 1.78
.27 .33 .35 1.06 1.06 1.14 1.09 1.04 1.12 1.11 1.12 1.25 1.32 1.40
.48 .57 .57 1.76 1.78 1.79 1.78 1.86 2.04 2.02 2.16 2.25 2.29 2.37
.82 .93 .94 2.96 2.56 2.87 2.96 3.22 3.34 3.66 3.50 3.62 3.71 3.94
.60 .65 .60 2.54 2.40 2.54 2.44 2.76 2.73 3.00 2.60 2.74 2.58 2.27
.38 .41 .36 1.49 1.30 1.36 1.33 1.57 1.55 1.78 1.67 1.70 1.61 1.36
.72 .62
.82 .85 .90 .86 .88 .92 .92 .64 .67
.14 .18 .16
.24 .31 .26
.81 .91 .85 .86 1.03 1.11 1.14 1.01 1.06 1.24 1.07
.76 .88 .92 2.73 2.64 2.92 2.96 3.24 3.45 3.50 3.52 3.45 3.52 3.82
Durable goods
Primary metals 3 _
_
Blast furnace, steel works. _ _
Nonferrous. _
Electrical machinery
Machinery, except electrical3
Transportation equipment _
Motor vehicles
Aircraft 4 _
Stone, clay, and5 glass..
_
Other durables .
14.12
3.36
2.00
1.09
1.78
2.84
2.48
1.36
.86
.86
2.82
Nondurable goods
_
Food including beverage _ _
Textile
Paper
Chemical
Petroleum.
Rubber
Other nondurables 6
14.25 15.72 16.42 3.09 3.63 3.59 3.94 3.22 3.84 4.12 4.53 3.56 4.09 4.11 13.91 14.33 14.40 14.31 14.52 15.18 16.52
2.21 2.59 2.93 .45 .57 .61 .57 .64 .64 .68 .73 .67 .75 .70 2.04 2.14 2.40 2.23 2.45 2.38 2.68
.56 .52 .53 .53 .59 .63 .69
.53 .63 .56 .13 .13 .13 .14 .13 .16 .17 .16 .13 .16 .14
1.32 1.58 1.68 .27 .36 .32 .37 .31 .40 .41 .46 .37 .42 .42 1.24 1.40 1.26 1.37 1.42 1.58 1.62
2.83 3.10 3.35 .65 .76 .66 .77 .67 .76 .76 .91 .76 .86 .82 2.91 2.93 2.78 2.72 3.00 2.95 3.19
5.25 5.63 5.68 1.15 1.26 1.33 1.50 1.12 1.32 1.49 1.68 1.14 1.38 1.46 5.17 5.16 5.32 5.32 5.04 5.41 5.98
.82 .88 1.06 1.11 1.07 1.12 1.13
.98 1.09 .98 .18 .22 .26 .31 .24 .28 .28 .28 .24 .24 .24
1.13 1.10 1.24 .25 .32 .27 .28 .21 .27 .32 .30 .25 .29 .34 1.16 1.30 1.05 1.03 .94 1.11 1.24
Nonmanufacturing industries
Mining..
Railroad..
Air transportation
Other transportation.
16.50 16.05 16.18 16.36
2.86 3.00 2.84 2.72
.61 .54
.61 : .58
1.70 1.71 1.63 1.64
3.22 3.32 3.31 3.46
5.98 5.15 5.68 5.76
1.04 1.10
.96 .97
1.09 1.18 1.16 1.27
_. 39.40 43.88 48.60 8.95 9.86 9.66 10.93 9.45 10.99 11.10 12.34 10.32 12.19 12.36 40.07 38.45 38.91 40.35 42.53 42.78 44.80 45.46
1.63 1.86 1.88 .42 .43 .39 .40 .42 .48 .47 .49 .45 .46 .48 1.80 1.66 1.57 1.52 1.83 1.88 1.89 1.85
. . . 1.45 1.86 1.99
.37 .31 .38 .38 .44 .49 .55 .42 .50 .53 1.68 1.49 1.29 1.34 1.68 1.76 2.06 1.94
.58 .64 .66 .68 .66 .53 .64 .73 .86 .78 2.88 1.98 2.69 2.87 2.89 2.22 2.23 2.80
2.56 2.51 3.16
_
1.59 1.68 1.51 .30 .42 .41 .47 .38 .46 .40 .44 .28 .38 .35 1.43 1.49 1.65 1.75 1.87 1.66 1.65 1.63
:S
45.78 47.78 50.02
1.92 1.80 1.90
1.74 1.97 2.22
2.94 3.09 3.38
1.37 1.37 1.44
10.20 11.61 13.58 2.07 2.62 2.61 2.90 2.36 2.99 3.03 3.23 2.54 3.48 3.81 10.08 10.24 9.82 10.63 11.52 11.68 11.48 11.80 12.14 13.48 14.68
7.66 8.94 11.03 1.69 1.94 1.87 2.16 1.88 2.22 2.23 2.61 2.15 2.84 2.92 7.76 7.64 7.50 7.74 8.62 8.71 8.98 9.36 9.77 11.11 11.86
2.54 2.67 2.55 .38 .68 .74 .74 .48 .77 .80 .62 .39 .64 .88 2.32 2.60 2.32 2.89 2.90 2.97 2.50 2.44 2.37 2.37 2.82
Public utilities..
Electric
Gas and other
_.
6.83 8.30 9.57 1.59 1.62 1.61 2.00 1.81 2.00 2.11 2.39 2.14 J6.52 6.42 ( 6.83 6.42 6.67 7.34 7.74 7.92 8.71 8.76 9.14 J26. 06 26.40
115. 17 15.37 15.22 14.91 15.00 15.67 16.78 16.67 16.52
15.14 16.05 16.90 3.50 3.81 3.69 4.13 3.41 3.97 4.07 4.60 3.76
1. Excludes agricultural business: real estate operators; medical, legal, educational, and cultural service; and nonprofit organizations.
2. Estimates are based on expected capital expenditures reported by business in late April
and May 1970. The estimates for the full year 1970 and for the second quarter and third quarters have been corrected for systematic biases. The adjustment procedures are described in the
February 1970 issue of the SURVEY OF CURRENT BUSINESS. Before such adjustments, 1970
expenditures were expected to be $79.68 billion for all industries, $33.03 billion for manufacturing, and $46.65 billion for nonmanufacturing.
3. Includes data not shown separately.
4. Includes guided missiles and space vehicles.
IV
67.76 75.56 81.45 15.10 16.85 16.79 19.03 16.04 18.81 19.25 21.46 17.47 20.46 20.62 68.09 66.29 67.77 69.05 72.52 73.94 77.84 77.84 78.22 80.66 83.28
All Industries
Manufacturing industries
Communication
Commercial and other 7
1970
5. Includes fabricated metal, lumber, furniture, instrument, ordnance and miscellaneous
except guided missiles and space vehicles.
6. Includes apparel, tobacco, leather and printing-publishing.
7. Includes trade, service, construction, finance and insurance.
NOTE.—Details may not add to total because of rounding. Data for earlier years 1947
through 1969 have been revised and were published in the January and February 1970 issues
of the SURVEY OF CURRENT BUSINESS.
Sources: U.S. Department of Commerce, Office of Business Economics, and the Securities
and Exchange Commission.
SUEVEY OF CURRENT BUSINESS
June 1970
principally trucking companies—are
reducing capital outlays 10 percent this
year to $1.5 billion.
Communications companies are
budgeting substantial increases in ex-
penditures again in 1970, as in 1969.
The total this year is expected to reach
$9.6 billion, up 15 percent from 1969.
The commercial group is projecting a
moderate advance of 5 percent to
19
$16.9 billion. While both wholesale and
retail firms have rather strong investment programs for 1970, some re trenchment is planned by service and construction companies.
Estimates of Expected Annual Expenditures for New
Plant and Equipment, 1947-70
Shown here are corrections of table C (page 23) and table 5 (page 37) in "Revised Estimates of New Plant and Equipment Expenditures in the United States, 1947-69: Part II,"
which appeared in the February 1970 issue of the SUKVEY. The corrections result from the
elimination of errors made in the computation of the factors used to adjust for systematic
biases in the expectations for the second half of the year reported by business each
February.
The corrections affect only the annual expectations data; they do not alter any other
data shown in Part II of the article (February SURVEY) or in Part I (January SURVEY).
The size of the correction varied by industry. For aggregate expenditures, the effect
was to reduce the annual expectation in most years starting in 1954 by up to 3 percent;
the earlier years were little affected.
Table 5.—Expected Expenditures for New Plant and Equipment Corrected for Systematic Biases ]
[Billions of dollars]
1948
All industries 2
Manufacturing
1949
1950
1951
1952
1954
1955
1956
8.89
7.49
1958
1959
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
6.88 10.65 12.11 11.61 11.15 11 15 15.63 16 62 13 45 13 15 15 75 14 62 15 30 15 96 18 24 22 49 28 06 29 08 29 72 32 76
Primary metal
Blast furnaces, steel works -Nonferrous
Other primary
Electrical machinery
Machinery except electric
Transportation equipment
Motor vehicles
Aircraft 3
Other transportation
Stone, clay, and glass
Other durable *
Nondurable goods
Food including beverage
Textile
Paper
Chemical
Petroleum
Rubber
Other nondurable 5
5.14
4.91
4.98
7.67
8.16
5.90
7.57
1 66
1 06
.47
13
53
74
.88
71
14
04
.36
97
1 09
65
.30
15
58
.71
1.24
1 04
16
.04
.39
90
1 00
61
.28
12
53
.73
1 05
83
17
.06
.54
1 12
1 59
97
42
21
72
1 01
2 02
1 54
38
09
93
1 40
2 24 1 52
1 24
92
44
81
19
16
86
71
1 35 1 14
1 61 1 06
1 04
62
47
37
10
08
84
60
1 26
88
1 38
92
.37
09
68
96
98
56
32
10
.68
1 22
1 79 1 34 1 52
1 27
95 1 05
31
36
*28
16
16
12
90
*84
92
1 33 1 28 1 34
1 28 1 28 1 23
78
86
85
33
34
32
11
12
10
91
79
63
1 34 1 14 1 31
1 52 1 88
88 1 12
46
54
22
18
80
73
1 34 1 56
1 49 1 76
84 1 24
48
40
12
17
71
.73
1 59 1 85
2 58
1 58
75
25
1 06
2 03
2 18
1 57
43
18
95
1 91
6.48
6.24
6.17
7.95
8.46
7.25
8 18
8 51 9.72
11.78 14 26
.91
.33
42
1.44
2 87
18
.34
.92
.26
43
1.14
2 87
.20
.41
.84
.30
48
1.06
2 89
19
.42
1.58 1.60
50
42
70
94
1 68 1.95
3 01 3 54
43
34
80
76
1.86 2.26 2.26
.68
69
86
1 09 1 57 1 43
2 58 3. 11 3.33
4 00 4 58 4 75
.82
56
71
.99 1 18 1.16
12.37 12.83 11.81 15.56 15.50 16.34
.94
Mining
Railroad 1.66
A i r transportation
_ _ _ _ _ _ }l. 20
O ther transportation
.Public utilities
_ 2.01
Electric
Gas and other
C ommunication
2 02
Commercial and other 6
4.53
1 05
84
1.52 1.00
1.00 1.07
3.22 3.04
17.44
7.53
6.59
8 03
7.03
8 27
7.44
8.52 10.71 13.80 14.66
2 88 3 27
1 76 1 89
83 1 04
29
34
1 48 1 89
3
25
2 82
2 99 2 69
2 02 1 56
90
69
24
28
99 1 08
2 64 2 48
14.86
3 21
1 83
1 13
25
1 88
3 17
2 63
1 45
93
25
.97
3 00
14.42 14.86
82 94
34 60
16.36
17.50
3 26
1 86
1 15
25
2 02
3 32
2.98
1 76
96
26
1.16
3 61
3 44
1 82
1.33
30
2 32
4.09
2.50
1 54
68
.27
1.21
3 94
16.40
17.10
2.85
.70
1.65
3.74
5.94
.98
1.24
20.54 21.78 19.83 20.52 22.32 21.19 23.84 23.61 27.67 31.27 36.08 36.44 39.95 43.86
48.34
1.59 1.70 1.66
1.79 1.77 1.81
2.28 2.68 2.67
1.40 1.47 1.78
8.36 9.88 11.74
6.40 7.60 8.96
1.96 2.27 2.78
6.58 6.83 7.78
14.43 15.62 16.41
1.87
2.25
2.84
1.63
13.28
10.82
2.47
9.57
16.90
1.14
.38
75
1.37
3 50
24
.57
1.24 1 63
.85 1 25
.31
1.42 SU.60
4.24 4.55
3 15
1.40
1 52 1 60 1 82 1 93 2 59
5.41 6 14 6 59 7.74 8.60
1 19 1.26
1 42 1.61
1.63 1.70
3.82 4.00
1 76 1 21 1 42
4 29 4 64 6 08
1.35
1.42
1.45
4.37
16.52
5.92
1970
2.58
.75
1.72
3.26
5.77
1.16
1.16
1.32
1.03
1.43
4.32
1. Estimates are based on expectations reported by business in late January and February
of each year. Procedures for correcting expectations for systematic biases are described on
pages 36 through 39 of the February 1970 SURVEY.
2. Excludes agricultural business; real estate operators; medical, legal, educational, and
cultural services; and nonprofit membership organizations.
3. Includes guided missiles and space vehicles.
4. Includes fabricated metal, lumber, furniture, instrument, ordnance, and miscellaneous
except guided missiles and space vehicles.
1957
21.27 20.32 18 68 26 21 27 61 27 95 27 67 28 58 36 16 38 41 33 28 33 67 38 07 35 81 39 14 39 57 45 91 53 76 64 14 65 52 69 67 76 62
Durable goods
Nonmanufacturing _
1953
1.12
34
86
1.70
3 60
28
.56
1 69
1 53
.47
1.45
5.42
3.87
1.55
3.30
7.92
1.11
22
64
1 52
3 30
22
52
1.18 1.31
30
39
62
69
1 34 1 46
2 94 3 10
27
34
61
90
1 48 1 45
86
93
34
.78
1.18 1.25
5.62 5.26
4 11 3 62
1.51 1.63
2 98 2 88
7.32 8.05
1 42
1 17
81
1.59
5.20
3 62
1.58
3 25
8.87
1.52
34
72
1 58
2 97
32
59
1 32
68
.71
1.16
5.44
3 69
1.75
3.27
8.61
1.65
37
66
1 56
2 93
38
71
1 33
1 09
54
1.78
4.84
3 42
1.42
3.81
10.45
1 27 1 25 1 38 1 56
1 27 1.82 1.96 2.20
.36
.78 1.26 1.68
1.70 1.55 1.61 1.70
5.12 5.43 5.96 7.30
3 76 3 93 4.36 5 28
1.36 1.50 1.60 2.02
4 06 4.37 5.11 5.97
9.84 12.47 13.99 15.66
2.22
.68
1.54
3.01
5 35
.84
1.22
5. Includes apparel, tobacco, leather, and printing-publishing.
6. Includes trade, service, construction, finance, and insurance.
NOTE.—Details may not add to totals because of rounding.
Sources: U.S. Department of Commerce, Office of Business Economics, and the Securities
and Exchange Commission.
20
SURVEY OF CUEEENT BUSINESS
June 1970
Table C.—- Indexes of Plant and Equipment Expenditures Actual and Expected 1
(Previous year actual=100)
Manufacturing
Mining
110
110
100
107
105
102
134
136
99
150
181
83
98
93
105
165
131
126
124
144
86
88
90
98
89
95
94
79
83
95
95
113
84
104
111
94
68
78
87
122
126
97
77
101
76
96
97
99
106
98
108
104
97
107
95
96
99
83
70
119
136
122
111
105
98
107
85
91
93
123
109
113
126
130
97
145
144
101
132
142
93
134
121
111
123
137
90
110
118
93
120
124
97
108
116
93
104
108
96
107
113
95
109
113
96
95
102
93
100
116
86
105
113
93
117
111
105
96
95
101
107
106
101
104
101
103
104
112
93
95
94
101
104
99
105
116
117
99
111
100
111
110
113
97
96
98
98
95
94
101
103
105
98
66
73
90
96
94
102
92
99
93
102
103
99
107
110
97
109
105
104
106
99
107
102
97
105
109
91
120
106
97
109
101
106
95
116
106
109
118
120
98
121
122
99
130
131
99
125
125
100
134
122
110
106
123
86
112
113
99
134
123
109
109
113
96
106
107
99
107
108
99
103
103
100
115
112
103
103
116
89
125
120
104
113
117
97
91
95
96
84
88
95
75
81
93
85
88
97
55
59
93
84
89
94
97
99
98
88
93
95
98
96
102
105
106
99
103
106
97
95
102
93
118
99
119
147
142
104
93
95
98
98
103
95
113
108
105
110
113
97
118
123
96
96
105
91
114
115
99
93
114
82
102
101
101
119
119
100
104
105
99
98
97
101
95
97
98
99
101
98
70
59
119
100
95
105
96
104
92
104
101
103
104
98
106
107
109
98
105
107
98
109
103
106
125
133
94
111
119
93
98
97
101
114
112
102
109
114
96
106
103
103
108
106
102
91
91
100
133
124
99
91
95
96
102
105
97
106
105
101
110
98
112
115
113
102
119
112
106
106
98
108
131
144
91
127
118
108
110
109
101
113
107
106
109
112
96
116
114
102
121
116
104
109
103
106
120
118
102
116
114
102
112
109
103
115
111
104
110
116
95
117
118
99
120
120
100
111
106
105
119
110
108
116
116
100
121
119
102
114
113
101
110
IK
92
103
103
100
101
103
98
102
98
104
78
76
103
111
109
102
118
113
104
105
109
96
101
10(
101
104
106
98
100
104
96
99
103
96
78
95
82
110
110
100
117
113
104
108
108
100
104
107
97
112
113
99
112
115
97
114
102
112
128
125
102
101
107
94
114
115
99
122
114
107
106
108
98
All
industries
1948:
Actual
Expected ._
_.
Percent actual of expected.
1949:
Actual
Expected
Percent actual of expected
1950:
Actual—
.
Expected
_- _Percent actual of expected
1951:
Actual
Expected
Percent actual of expected
1952:
Actual
Expected
Percent actual of expected
1953:
Actual .
Expected
_
Percent actual of expected
1954:
Acutal
Expected
Percent actual of expected
1955:
Actual
Expected
Percent actual of expected
1956:
Actual _ .
Expected .
.
Percent actual of expected
1957:
Actual
Expected
Percent actual of expected
1958:
Actual
Expected
Percent actual of expected
1959:
Actual
Expected
Percent actual of expected
1960:
Actual .
. _ .Expected .
_ .
Percent actual of expected
1961:
Actual
Expected
Percent actual of expected
1962:
Actual
Expected
Percent actual of expected
1963:
Actual
Expected
Percent actual of expected
1964:
Actual __.
- - _
Expected
Percent actual of expected
1965:
Actual
Expected
Percent actual of expected
1966:
Actual
Expected
Percent actual of expected
1967:
Actual.
_
Expected
Percent actual of expected
1968:
Actual
Expected
Percent actual of expected..
1969:
Actual
_
Expected
Percent actual of expected
_.
-.
.
.
..
Nonrail Public
Railroad transpor- utilities
tation
Communication
Commercial
1. Expectations are corrected for systematic biases.
Sources: U.S. Department of Commerce, Office of Business Economics and Securities and Exchange Commission.
Manufacturers' Inventory and Sales Expectations:
Second and Third Quarters of 1970
THE highlights of the inventory and
sales expectations survey conducted in
May by the Office of Business Economics are:
1. The growth of manufacturers'
stocks in the second and third quarters
is expected to be a little larger than
in the first but well below any quarter
of last year.
2. Sales gains are projected for the
second and third quarters, despite the
declines recorded in the first quarter
and in the month of April. It is relevant
to note that sales expectations have
exceeded actual volume in all periods
of weakening sales since the start of the
expectations series in 1957.
3. Manufacturers reported a further
deterioration in the condition of their
inventories in March, in terms both
of the percentage of inventories classified as "high" and of the amount in
excess of needs.
They added between $200 million and
$400 million in the past five quarters.
The stocks of durable goods producers at the end of March equaled
2.14 months of sales at the average first
quarter sales rate, the highest ratio in
9 years. The ratio is expected to fall
this quarter and next, but nevertheless
to remain well above last year's level.
The ratio for nondurable goods producers is expected to be equivalent to
1.31 months of sales in the second and
third quarters, little different from last
year or the first quarter of 1970.
Sales expectations
Manufacturers project sales gains of
1.7 percent for the second quarter and
2.3 percent for the third. Sales declined
\Y% percent in the first quarter, whereas
the expectation in February was for
little change.
Durable goods producers expect increases of 2 percent in the second
quarter and 3 percent in the third.
These gains would more than offset the
fractional drop in the last quarter of
1969 and the 3 percent decline sustained
•••••••••••••••I CHART 10
Manufacturers' Inventory and Sales Expectations
DURABLE GOODS MANUFACTURERS
NONDURABLE GOODS MANUFACTURERS
Billion $
- 2
Inventory additions
Manufacturers expect to add $1.4
billion to stocks this quarter and $900
million in the next. Additions totaled
$1 billion in the first quarter, after
ranging from $1.7 billion to $2.0 billion
per quarter in 1969. The first quarter
accumulation was quite close to the
expectation reported in the survey
taken in February, with durable goods
producers adding less than they had
expected and nondurables producers
more.
Durable goods producers increased
their holdings $1% billion in each
quarter of 1969, but added only $700
million in this year's first quarter.
Now they project increases of $850
million in the second quarter and $500
million in the third.
Nondurable goods producers expect
to add $600 million to their holdings
• Expectations
this
U.S. Department of Commerce, Office of Business Economics
quarter
and
$400
million
next.
10
25
20
]5
1.0
1962
64
66
68
70
1962
70
Seasonally Adjusted
21
SUEVEY OF CURRENT BUSINESS
22
in the first quarter of 1970, and put
third quarter volume about 2 percent
above the peak established in last
year's third quarter.
Nondurable goods producers, whose
sales were virtually unchanged in the
first quarter, look to increases of 1
percent both this quarter and next.
The projected growth is smaller than
that experienced last year.
Inventory imbalance, March 31
June 1970
Table 2.—Manufacturers' Evaluation of the
Condition of Their Inventories 1
Producers who judged their stocks
(Percentage distribution)
"high" or "low" also specified the
Total
Durables Nondurables
amount of imbalance in their holdings.
Since the inception of this inquiry at
§
§ .i^
o §
the end of 1968, inventory excesses have
W
1
W If 1 W
been increasing, while inventory defici2
Mar. 31, 1964
16 82 2 17 81 2 14 84
encies have been very small and June
3
30, 1964
13 84 3 16 81 3 9 88
Sept.
30,
1964
14
82
4
81
15
11
4
84
5
declining.
Dec. 31, 1964
13 84 3 15 82 3 9 87
4
After netting deficiencies against ex- Mar. 31, 1965
16 81 3 20 77 3 9 87
4
5
30, 1965
16 80 4 20 77 3 10 85
cesses, holdings on March 31 are esti- June
Inventory condition
Sept. 30, 1965
16 81 3 22 76 2 8 88
4
Dec. 31, 1965
15 82 3 19 78 3 8 88
4
Producers reported some further de- mated to have been $2^ billion in Mar. 31, 1966
5
15 81 4 18 79 3 10 85
4
30, 1966
18 78 4 21 75 4 13 83
terioration in the condition of their excess of needs. The net excess rose June
3
Sept. 30, 1966
22 75 3 27 70 3 14 83
3
28 70 2 33 65 2 18 79
inventories. As of March 31, companies slowly during 1969, from $1.5 billionDec. 31, 1966
at
the
beginning
of
the
year
to
$2.3
1
1
2
Mar. 31, 1967
31 68
37 62
20 78
holding 24 percent of producers' stocks
4
June 30, 1967
31 67 2 36 63 1 20 76
billion
at
the
close.
The
increase
since
Sept. 30, 1967
27 69 4 34 63 3 15 81
4
judged their inventories "high," conDec. 31, 1967
25 72 3 31 67 2 15 81
4
December
1968
has
been
considerably
tinuing the uptrend from the 18 percent
Mar. 31, 1968
25 72 3 31 66 3 15 82
3
30, 1968 ... 25 72 3 31 67 2 16 80
4
reported at the end of 1968. The figure more pronounced in the durables sector, June
Sept. 30, 1968 .... 24 73 3 28 70 2 16 79
5
Dec. 31, 1968
2 19 79 2 16 82
18
80
2
in
terms
of
both
the
amount
of
excess
was 23 percent at the end of 1969.
Mar. 31, 1969
20 78 2 21 77 2 17 82
1
The deterioration has been more pro- stocks and the ratio of the excess to June
30, 1969
21 77 2 22 76 2 18 80
2
Sept.
30,
1969
76
1
1
1
26
82
23
73
17
nounaed in durables than in nondur- total holdings (table 3).
Dec. 31 1969 '
1
23 76 1 25 73 2 18 81
ables manufacturing. The "high"
Companies that judged their stocks Mar. 31, 1970
1
24 75 1 27 72 1 19 80
ratio for durables was 27 percent "high" at the end of March had an
T
Revised.
on March 31, up from 19 percent at the average excess of about 10% percent.
1. Condition of actual inventories relative to sales and unfilled
orders position as viewed by reporting companies.
end of 1968.
distribution of inventory book values according to
The average excess was larger in dura- Percent
companies'
classifications of their inventory condition.
The "high" ratio for nondurable
bles
(11
percent)
than
in
nondurables
NOTE.—Due to change in survey questionnaire, data
goods producers was 19 percent at the
starting Dec. 31, 1968 are not strictly comparable to prior
end of March, up 3 points from yearend (9 percent). The average deficiency for data.
Source: U S. Department of Commerce, Office of Business
1968. The current figure almost matches the small number of companies judging Economics.
that of mid-1967, which marked the end their stocks "low" was also
percent.
of the previous rise in the ratio.
!i
Table 1.—Manufacturers' Inventories and Sales: Actual and Expected
[Billions of dollars]
IV
I
II
III
1970
1969
1968
1967
I
Table 3.—Inventory Imbalance,
Dec. 31, 1968 to Mar. 31, 1970
IV
I
II
III
IV
I
III
Inventory
excess
Inventory
deficiency
1.73
1.87
1.96
2.36
2.50
2.58
0.25
.16
.24
.15
.16
.10
1.48
1.71
1.72
2.21
2.34
2.48
1.7
1.9
1.9
2.4
2.5
2.5
Durable goods:
Dec. 31, 1968
Mar. 31, 1969
June 30, 1969
Sept. 30, 1969 »•__.
Dec. 31, 1969 '____
Mar. 31, 1970
1.19
1.31
1.35
1.75
1.91
1.97
.20
.12
.18
.11
.13
.09
.99
1.19
1.17
1.64
1.78
1.88
1.7
2.0
1.9
2.7
2.8
2.9
Nondurable goods :
Dec. 31, 1968
Mar. 31, 1969
June 30, 1969
Sept. 30, 1969 '___
Dec. 31, 1969 r— Mar. 31, 1970
.54
.56
.61
.61
.59
.61
.05
.04
.06
.04
.03
.01
.49
.52
.55
.57
.56
.60
1.6
1.6
1.7
1.8
1.7
1.8
IIIi
II
III
80.7
51.6
29.0
81.3
52.3
29.0
81.0
52.3
28.8
82.6
53.2
29.3
84.3
54.6
29.7
85.8
55.8
30.0
86.4
56.1
30.3
88.2
57.0
31.2
90.9
59.3
31.6
92.5
60.9
31.6
93.4
61.6
31.8
95.5
63.1
32.4
97.5
64.6
32.9
98.7
65.5
33.2
98.4
65.2
33.2
80.1
51.3
28.8
81.1
52.0
29.1
81.7
52.6
29.1
82.8
53.5
29.3
83.8
54.3
29.5
85.6
55.4
30.1
87.1
56.5
30.7
88.6
57.4
31.2
90.3
59.0
31.3
92.2
60.5
31.7
94.2
62.0
32.2
95.9
63.6
32.4
96.9
64.3
32.6
98.3
65.1
33. 2
99.2
65.6
33.6
Amount Percent
of total
inventories
(Billions of dollars)
Inventories, end of
quarter:
Unadjusted:
All manufacturing
Durables
Nondurables
Seasonally adjusted:
All manufacturing
Durables
Nondurables
Sales, total for quarter:
Unadjusted:
134.8 139.7 133.6 140.4 144.9 153.8 148.3 156.7 158.6 166.6 161.9 168.2 164.9 173.5 167.4
All manufacturing
90.4
Durables
.
73.7 77.3 71.6 77.1 80.5 85.7 78.7 86.0 88.7 93.4 88.2 93.4 89.8 96.2
Nondurables
_. 61.1 62.4 62.0 63.4 64.4 68.1 69.6 70.7 70.0 73.2 73.7 74.8 75.1 77.3 77.0
Seasonally adjusted :
All manufacturing
Durables
N ondurables
135.0 135.6 137.4 140.7 145.2 149.5 152.7 156.6 159.2 161.8 167.1 168.3 165.6 168.5
73.6 73.8 75.3 77.0 80.5 82.0 83.0 85.5 88.8 89.4 93.2 93.0 90.1 92.1
61.4 61.8 62.0 63.7 64.8 67.5 69.7 71.1 70.4 72.5 73.9 75.2 75.5 76.4
172.4
95.2
77.2
All manufacturers:
Dec. 31, 1968 .
Mar. 31, 1969
June 30, 1969
Sept. 30, 1969 '
Dec. 31, 1969 «•
Mar. 31, 1970
r
1. Expectations reported by manufacturers in May 1970. Inventory expectations have been corrected for systematic biases.
Sources: U.S. Department of Commerce. Expectations, Office of Business Economics; actuals, Bureau of the Census.
Net excess
Revised.
Source: U.S. Department of Commerce, Office of Business
Economics.
By DAVID T. DEVLIN
The U.S. Balance of Payments: First Quarter 1979
The liquidity balance was in deficit
by $1.5 billion in the first quarter of
1970. After correcting for distortions,
the liquidity deficit showed a moderate
increase in the first quarter from the
average quarterly deficit in 1969 as
private capital flows moved adversely.
The official reserve transactions balance
deteriorated very sharply in the first
quarter, largely reflecting an easing of
U.S.
monetary
conditions
with
conditions abroad continuing firm.
A HE U.S. balance of payments on the
liquidity basis—including the $217
million favorable impact of the initial
allocation of special drawing rights
(SDE)—was in deficit by $1,548 million, seasonally adjusted, in the first
quarter. This represented a $1.8 billion
adverse swing from the $211 million (assumed to include the allocation of
surplus in the fourth quarter of 1969, SDR unless otherwise noted), neither
but a $0.3 billion improvement over the comparison with the fourth quarter
the $1.8 billion average quarterly deficit nor the comparison with the average
in 1969 (see table Al). Excluding the quarterly balance in 1969 gives quite
allocation of SDR, the first quarter the right impression of first quarter
deficit was $1,765 million, a $2.0 developments. After correcting for disbillion deterioration over the fourth tortions stemming from special finanquarter, and virtually unchanged from cial transactions and roundabout Eurothe average quarterly deficit in 1969.
dollar flows as discussed in the following
The balance on the official reserve section, the underlying deficit in 1969
transactions basis, seasonally adjusted, probably averaged about $1.1 billion
was in deficit by a record $2,853 million per quarter. Excluding also the alloca($3,070 million excluding the SDR tion of SDR, the first quarter deficit
allocation). This represented a deterio- was probably about $1.4 billion, a
ration of $3.4 billion from the $522 moderate deterioration from the average
million surplus in the fourth quarter,
NOTE.—Evelyn Parrish, as well as Max
and of $3.5 billion from the average Lechter,
E. Seymour Kerber, George Kruer,
quarterly surplus in 1969.
and Russell Scholl also made significant
In the case of the liquidity balance contributions.
CHART 11
Balance of International Payments
Billion $
; de&east — )
2 ~
0 ~£p
^Gold Holdings
-. _2
L
1969
1968
1970
1968
t
J_
j
J
1969
i
1970
1968
1969
1970
Seasonally Adjusted
0
Official balance excluding allocation of SDR * Liquidity balance excluding allocation of SDR
1. Includes changes in gold, SDR, convertible currencies, and IMF gold tranche. 2. Includes certain nonliquid liabilities to foreign official agencies.
U.S. Department of Commerce, Office of Business Economics
23
24
SURVEY OF CURRENT BUSINESS
quarterly deficit last year. The major
factors leading to the adverse shift were
the weakness in U.S. stock prices and
tight monetary and capital markets
abroad which depressed foreign purchases of U.S. securities; and large
direct investment outflows associated,
in part, with the heavy plant and equipment expenditures abroad planned for
1970. Partly offsetting these factors,
strong foreign demand boosted the U.S.
trade balance.
After similar adjustments, the deterioration in the liquidity balance from
the fourth, quarter of 1969 to the first
quarter of 1970 was about $1.2 billion.
A good deal of this deterioration, however, was due to the fact that several
unusual and favorable transitory factors
which affected the fourth quarter were
absent in the first. These included a
large inflow of funds from Germany
following the revaluation of the mark,
large military prepayments by Germany, small net purchases of foreign
securities by U.S. residents, and a
temporary spurt in foreign purchases of
U.S. stocks by foreigners.
The factors leading to the sharp
deterioration in the official reserve
transactions balance are relatively clear.
(It must be recognized, however, that
this balance is volatile, since it is
sensitive to changes in monetary conditions and exchange market expectations,
and is not intended to indicate more
fundamental
developments.) U.S. dition, roundabout flows of U.S. funds
monetary conditions eased and there to the Eurodollar market and back
was a large decline in Eurodollar inter- to the United States through the foreign
est rates. At the same time, monetary branches of U.S. banks inflated the
conditions in a number of foreign 1969 deficit by roughly $2.0 billion.
countries remained firm. Also, there Neither type of transaction represents
was a further increase in confidence in a real change in our position. (After adsterling. As a result, the incentive for justment for such factors, the underprivate foreigners to hold dollars de- lying deficit was probably around
clined, and there was a very large flow $4^ billion in 1969.)
of funds into foreign central banks. Part
Even after such adjustments, howof the dollar gains by foreign central ever, it is not clear that this balance
banks reflected the continued U.S. is the most appropriate focus for analliquidity deficit, and part reflected a ysis of developments in our external
reduction in the dollar holdings built up position. As is common knowledge, a
by private foreigners last year.
buildup of liquid liabilities to foreigners
does not always imply a weakening of
our
external position. For instance,
The Liquidity Balance
private foreigners (or official foreign
The liquidity balance is intended agencies) may wish to increase their
to be a broad indicator of potential liquid dollar holdings along with the
pressures on the dollar resulting from growth of international transactions.
changes in our liquidity position, and Further study is also needed as to
is measured by changes in U.S. official whether increases in U.S. liquid liabilireserve assets and changes in liquid ties to foreigners are, in some sense,
liabilities to all foreigners. However, offset by increases in monetary claims
as previous discussions in the SURVEY of U.S. residents on foreigners, such as
have pointed out, this measure has those associated with the roundabout
been distorted in recent years by two flows and with other placements of
factors. Special financial transac- funds by U.S. residents in the Eurotions—mostly shifts of funds of foreign dollar market. Taking these and other
official agencies and international agen- factors into consideration, the Office of
cies from liquid to nonliquid cate- Business Economics, the Treasury Degories—improved the balance before partment and other agencies are cur1969 and their reversal enlarged the rently reviewing the U.S. balance of
1969 deficit by $628 million. In ad- payments statistics in order to develop
June 1970
Table Al.—-Summary of U.S. International Transactions
[Millions of dollars, seasonally adjusted]
Line
Lines in tables 1, 2, and 8 in which transactions
are included are indicated in ( )
1 Balance on goods and services (24f) 1, 2
2 Personal and government transfers (27, 30) 3
3
4
5
6
7
U.S. private and foreign capital (32, 52f through 56f) 1t 4 U.S. Government grants and capital (29, 41f, 57|, 58f) !, 2.
Allocations of SDR (62)
Errors and omissions (63) _ _ ..
Special financial transactions (table A2, line 1)
19 68
1968
1969
Change:
1968-69
I
II
19 69
III
IV
I
II
1970
III
IV
IP
Change:
1969 IV
19701
2 559
—1 121
765
-4, 241
1,949
—1 190
-921
-3, 506
—610
455
853
851
406
330
313
656
651
885
-1,686
735
—267
787
-1,152
—257
239
-1,011
—322
-271
-1, 146
—276
11
-934
—270
419
-842
—294
-1,443
-1,079
—318
-210
-964
—309
313
-619
-514
2,723
-2, 924
-628
-2,410
-3,351
-329
—528
335
693
8
951
— 1,196
207
—922
-374
-927
-518
121
57
—330
-741
-976
217
-337
-268
-1,054
-357
217
-458
-325
—69
263
815
234
—21
8
BALANCE ON LIQUIDITY BASIS, including allocations of SDR (table 3, line 2)=total of above lines 1
through 7
.
9 Plus: Inflow (+) of foreign private liquid funds (table 7,
lines 15a, 20, 26)
10 Adjustment for changes in certain nonliquid liabilities
to foreign official agencies (an increase is shown with
a negative sign) (table A2, line 3, sign reveresd) «
11 BALANCE ON OFFICIAL RESERVE TRANSACTIONS BASIS, including allocations of SDR (table
3 line 15) —total of above lines 8 through 10
p Preliminary.
f Portion of line.
1. Excludes special financial transactions (see table A2).
2. Excludes transfers under military grants.
3. Excludes military and other U.S. Government grants.
4. Excludes liquid liabilities.
171
-7,221
-7,392
—244
145
164
-1,352
-3,801
-2,279
211
-1,548
-1,759
3,810
8,933
5,123
538
2,316
792
164
2,842
4,742
1,180
169
-1,730
-1, 899
-2,341
996
3,337
-355
-770
-529
-686
-37
374
517
142
425
283
1,641
2,708
1,067
-61
408
—358
1,315
-582
522
-2,853
-3,375
106
1,652
1,453
5. All of the changes in" certain nonliquid liabilities" are included among the special financial
transactions (line 7); an increase in such liabilities improves the liquidity balance. The balance
on official reserve transactions, however, is not affected by changes in "certain nonliquid
liabilities" since they are considered part of the financing of this balance.
NOTE.—Details may not add to totals because of rounding.
SUEVEY OF CUREENT BUSINESS
June 1970
a more appropriate overall presentation
of changes in our external position.
First quarter developments
In the first quarter of 1970, reversal
of special financial transactions increased the liquidity deficit by $268
million, compared with a favorable
impact of $57 million in the fourth
quarter. These transactions thus contributed $325 million to the adverse
shift from the fourth to the first quarter.
Available evidence on roundabout Eurodollar flows, the other distortion, is
more equivocal, but it appears that
such flows were not important in the
first quarter, although they probably
had a favorable impact on the liquidity
balance in the fourth quarter. Errors
and omissions (where most of the
"outflow" of roundabout funds showed
up in 1969) was negative (an outflow)
by $337 million in the first quarter,
an adverse shift of $458 million from
the fourth quarter. There was evidently
some unrecorded inflow of roundabout
funds from the Eurodollar market
(as well as from Germany following
revaluation of the mark) in the fourth
quarter. The fact that there was an
outflow on this account in the first
quarter suggests that there was no
significant reversal of roundabout flows,
although Eurodollar rates fell. On the
other hand, the small size of the errors
and omissions outflow (compared with
last year), suggests there was no
significant renewal of such flows.
Aside from the shifts in special
financial transactions and in errors and
omissions, and excluding for this purpose the allocation of SDR, the deterioration in the first quarter was
about $1.2 billion (table Al). Net
exports of goods and services improved
by over $0.2 billion. U.S. private and
foreign capital flows deteriorated $1.1
billion, however, as U.S. direct investment abroad rose sharply and
foreign purchase of U.S. stocks fell;
these flows were only partly offset
by a favorable swing in bank reported
claims. In addition, the net outflow of
Government grants and capital increased $0.3 billion.
25
The "Official" Balance
The official reserve transactions balance is intended to be an indicator of
net exchange market pressures on the
dollar during the reporting period; in
addition to changes in U.S. official
reserve assets, it takes account of
changes in both liquid and certain nonliquid liabilities, but only liabilities to
foreign official agencies. Occasionally,
this measure of actual exchange market
pressure has also been distorted. In
1969, particularly in the first half of the
year, sizable amounts of foreign official
funds were apparently shifted from
direct holdings at banks in the U.S.
into Eurodollar deposits. Although such
shifts favorably affected the official
surplus, they implied no strengthening
of the dollar in the exchange market nor
any loss of dollars by foreign central
banks. Fragmentary information suggests that in the first quarter of 1970
shifts of official funds in the opposite
direction—from Eurodollar deposits to
direct holdings with U.S. banks—
Table A2.—-Special Financial Transactions
[Millions of dollars]
Line
(Favorable effect on balances -}-)
Lines in tables 1, 2, and 8 in which transactions are included are
indicated in ( )
1968
I
III
II
IV
I
II
Effect on balance measured on liquidity basis l.
Effect on balance measured on official reserve transactions basis 2
3
Certain nonliquid liabilities to foreign official agencies; decrease (— )
(table 3, line 21) 3....
:
Long-term liabilities reported by U.S. banks (64t)
Long-term liabilities reported by U.S. Government (57f, 58t) *— Nonconvertible U.S. Treasury securities issued:
To Italy in connection with military purchases in the United
States (57f)
To Canada:
In connection with Columbia River power rights (57t) 3Other(58f)
To Germany (58f) 4
To other countries (58f)
Export-Import Bank obligations:
To be liquidated against U.S. claims (57f) Other (58t)-
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
?,?,
23
Other special financial transactions _.
Long-term liabilities to international and regional organizations
reported by U.S. banks (54f)
U.S. agency bonds issued to international and regional organizations
Nonconvertible U.S. Treasury securities issued to German commercial
banks (58f) *
_.
1
German4 Government 10-year loan to United States Government
(58f) --Special deposits in accounts with U.S. Treasury (57f)
Nonscheduled repayments of U.S. Government credits (including sales
of foreign obligations to foreigners) (45f)
Other special financial transactions with Canada:
Newly issued securities of Canadian Government (34t) Canadian Government purchases of IBRD bonds from U.S.
owners (36f)
Deferral of interest payment on United Kindgom loans (13t)
Deferral of principal payment on United Kingdom loans (44f )
IP
IV
2,723
185
—628
—78
263
6
815
56
693
105
951
18
207
-14
-374
34
-518
-162
57
64
-268
73
-325
9
2,341
—996
—834
—162
355
116
239
770
150
620
529
131
686
137
37
—43
80
-374
—195
— 179
-517
-390
-127
-142
-206
64
-425
-159
-266
-283
47
-330
535
1,806
398
—30
—11
—9
—20
_1
-30
1 050
501
287
-30
— 175
249
— 120
-8
100
125
(*)
-7
500
126
22
-8
250
124
35
— 19
47
—4
—70
—17
48
382
368
79
110
118
336
(*)
-7
200
126
230
(*)
—92
164
265
—60
30
-19
128
—38
—41
78
119
—5
—1
—1
—4
—14
-10
-8
-8
125
—20
-7
— 250
124
(*)
-7
75
-8
300
-542
-1
225
-542
—2
—10
—45
-2
-2
170
o
-2
— 15
—1
199
157
-42
9
100
1
-10
-11
-43
61
134
94
-40
-8
75
(*)
-15
-75
-15
-11
88
99
(*)
184
-100
(*)
125
50
75
—8
269
—130
-85
-15
-36
—66
—72
—2
549
(*)
45
125
* Less than $500,000.
t Portion of line.
* Preliminary.
1. Includes all special financial transactions (lines 3 through 23).
2. Includes only special financial transactions in lines 16 through 23.
3. Transactions in connection with Columbia River power rights regularly occur in fourth
III
Change:
1969 IV19701
r
Total:
1
2
1970
19 B9
1968
1969
50
42
3
—72
-36
55
169
1
-13
-15
34
-154
-66
-72
quarter. They have been redistributed evenly in each quarter of the year.
4. Transactions under agreements to offset U.S. Military expenditures in Germany.
NOTE.—Details may not add to totals because of rounding.
SURVEY OF CURRENT BUSINESS
26
tended to exaggerate the deterioration
in the official balance.
branches had begun in the fourth
quarter, and was probably stimulated
both by the Federal Reserve Board's
First quarter developments
imposition last fall of marginal reserve
A more important influence on the requirements on Eurodollar borrowings
official balance in the first quarter, and by the banks' success in developing
however, was the change in monetary an alternative domestic source of funds
conditions. The total deterioration from through the issuance of commercial
the fourth to the first quarter was paper by bank holding companies.
In the fourth quarter, there was an
$3.4 billion, $1.6 billion more than the
deterioration in the liquidity balance. increase in the dollar holdings of other
The difference was largely due to a private foreigners (including foreign
$1.9 billion shift in the net flow of banks other than branches of U.S.
foreign private liquid funds, from an banks), offsetting the decline in U.S.
inflow of $169 million in the fourth banks' liabilities to their branches. In
quarter to an outflow of $1,730 million the first quarter, however, with Euroin the first (table Al). The first quarter dollar interest rates declining while
outflow was probably associated with credit markets in a number of major
the decline in short-term interest rates foreign countries remained tight, other
in the United States and in the Euro- private foreigners reduced their dollar
dollar market as monetary policy in holdings. There were thus large net
this country became less restrictive, shifts of private foreign funds into
while monetary conditions in a number foreign currencies and a consequent
of countries abroad remained firm. As increase in dollar holdings of foreign
U.S. monetary conditions eased, U.S. central banks. The United Kingdom
banks cut Eurodollar borrowing and made particularly large gains following
their liabilities to their foreign branches the return of confidence in sterling, with
declined by about $1.0 billion (not significant gains also registered by
seasonally adjusted). Reduction in Germany, Canada, France, and Japan.
banks' liabilities to their foreign These gains reflected not only the re-
June 1970
duction in accumulated dollar holdings
of private foreigners, but also the
outflow of dollars resulting from the
first quarter liquidity deficit.
Special Drawing Rights
On January 1, 1970, the United
States and other participating nations
received their initial allocation of special
drawing rights (SDR). These international reserve assets were created to
insure an orderly and adequate growth
in international liquidity. The system
was set up through amendments to the
International Monetary Fund's Articles
of Agreement and provides for the allocation of SDR to participating
members in proportion to their IMF
quotas. The initial worldwide allocation
to participating members involved
about $3.4 billion of SDR. Two further
allocations will be made during the first
basic period, each amounting to about
$3.0 billion on January 1 in both 1971
and in 1972.
An SDR allocation adds to U.S. reserves. Since there is no corresponding
increase in liabilities, both the liquidity
balance and the official reserve trans-
Table Bl.—Goods and Services
[Millions of dollars, seasonally adjusted]
Line
Lines in tables 1, 2, and 8 in which transactions are
included are indicated in ( )
1 Exports of goods and services (2f) l • 2 _ _
2
Merchandise, adjusted, excluding military (3)
3
Transfers under military sales contracts (4)
4
Transportation (6)
..
5
Travel (7) .
6
Other services (8 through 10)
7
Income on U.S. investments abroad (11 through
13t)2
8
Direct investments (11)
9
Other private assets (12) 10
U.S. Government assets (13f) 2
1968
1968
I
50,688
1969
II
III
IV
I
II
IV
14,291
9,585
313
14,565
9,581
458
14,712
9,835
352
15,276
10,200
284
2,286
1,455
2,314
1,472
2,489
1,603
175
131
23
21
-13,909 -14,061
-9, 263 -9, 390
-1,220
-1,245
-960
-967
-875
-840
-351
-372
-14,391
-9,685
-1,205
-938
-873
-361
-330
-295
40
-1,329
-1,119
-210
-82
-75
-7
55,514
36, 473
1,515
3,131
2,058
3,498
11,932
7,946
302
12,685
8,386
344
11,948
7,472
391
738
431
796
12,780
8, 378
357
721
433
765
13,295
8,878
393
7,753
4,973
1,949
8,838
5,639
2,267
1,765
1,097
1,990
1,307
2,001
1,292
2,089
1,342
2,150
1,370
831
932
477
206
2,000
1,278
462
206
-48,129
-32, 964
—4 535
—3, 269
-3,022
-1,406
-53,564
-35, 835
-4,850
-3,608
-3,390
-1,419
-11,477
-7,820
-1, 103
-795
-755
-327
-11,832
-8, 132
-1,112
-790
-737
-329
-12,444
-8,569
-1, 147
-844
-787
-336
-12,374
-8, 443
-1, 173
-840
-743
-413
-11,618
-7,576
-1, 198
-775
-820
-344
-13,978
-9,606
-1,187
-907
-855
-352
—2 933
—2 231
-702
—4 463
-3 686
-777
-677
-502
-175
-732
-550
-182
-761
-596
-165
—762
-582
-180
-905
-719
-186
-1,071
—881
-190
20
21
22
23
24
25
26
Goods and services, total (2f, 14) 2
2,559
624
Merchandise, adjusted, excluding military (3, 15) . .
Military transactions (4, 16)
—3, 140
Transportation (6, 17). .
-300
Travel (7,18)
-1,247
Other services (8 through 10, 19, 20)
1,802
Investment income (11 through 13f, 21, 22) 2
4,820
1,949
638
-3, 335
-477
-1,332
2,079
4,375
27
Special financial transactions: Deferral of interest
on United Kingdom loan (table A2 line 22)
18
19
Imports of goods and services (14)
Merchandise, adjusted, excluding military (15)
Military expenditures (16)
Transportation (17)..'.
Travel (18) . . . .
Other services (19, 20) _ _
Income on foreign investments in the United
States (21, 22)
Private payments (21)
U.S. Government payments (22)
.
754
451
819
512
210
756
460
828
499
210
660
501
835
519
228
Change:
1969 IV19701
III
33,588
1,395
2,969
1,775
3,208
11
12
13
14
15
16
17
1970
1969
827
520
896
549
231
843
519
878
803
518
890
611
231
588
243
-1,240
—1,042
-198
-1,247
-1,044
-203
IP
840
559
904
634
252
564
365
-68
37
41
14
29
-33
11
Balance
v Preliminary.
f Portion of line.
1. Excluding transfers under military grants.
66
455
853
406
330
313
656
126
-801
254
-768
-65
-816
-74
-322
-306
-283
318
-762
-117
-356
438
467
-336
-104
-807
-115
-319
-21
—874
-52
309
-754
415
491
544
527
518
1,088
1,258
1,239
1,239
1,184
1,079
1,046
1,067
851
-90
483
-84
-80
-335
—66
2. Adjusted for special financial transactions shown in line 27.
NOTE. —Details may not add to totals because of rounding.
651
445
-893
-164
-322
885
515
-921
-98
-314
543
1,160
234
70
-28
66
8
25
93
June 1970
actions balance, as conventionally defined, are favorably affected by the
amount of the allocation. The allocation
of SDR, which in many ways resembles
a unilateral transfer; is shown in the
accompanying tables as neither a current account nor a capital account
item, but on a new separate line. The
U.S. liquidity position (and that of
other participating countries) is clearly
improved by the allocation. However,
in order to separate the SDR allocation
from other transactions with foreigners,
and to facilitate continuity of analysis,
the liquidity balance (as well as the
official reserve transactions balance) is
also shown excluding the SDR
allocation.
The significance of an allocation of
SDR for the official reserve transactions
balance—which is intended to be an
indicator of net exchange market pressures on the dollar during the reporting
period—is essentially that the allocation
increases reserves, thus providing additional resources to deal with exchange
market pressures.
The United States received its $867
million allocation for the year on
January 1. In the quarterly accounts,
not adjusted for seasonal variation, the
entire amount is entered in the first
quarter as "Allocations of special drawing rights (SDR)" (table 1, line 62).
U.S. official reserve assets (table 1,
line 48) are favorably affected by the
same amount. On a seasonally adjusted
basis, the SDR allocation is entered as
$217 million in each of the year's four
quarters (table 2, line 62) and reserves
are favorably affected by the same
amount (table 2, line 48).
Reserve holdings of SDR change not
only as a result of SDR allocations, but
also through purchases of SDR from
other countries for dollars or sales of
SDR to other countries. In the first
quarter, the United States acquired
$53 million of SDR through transactions with foreign countries. (Such
acquisitions, while strengthening the
U.S. reserve position, have no net
impact on the official reserve transactions balance or on the liquidity balance:
the resulting change in liquid liabilities
to foreign official agencies exactly
offsets the change in U.S. reserves.)
SURVEY OF CURRENT BUSINESS
27
Financing the Balances
was obtained through the initial allocation; (3) a $253 million improvement in our gold tranche position at the
IMF (essentially, our automatic drawing rights) as foreign countries continued to draw dollars from the IMF;
and (4) a partly offsetting decline of
$831 million in U.S. official holdings of
convertible foreign currencies, mostly
There was an increase of $386 million
in U.S. official reserve assets during the
first quarter. (Figures in this section
are not seasonally adjusted.) The rise
reflected: (1) a $44 million increase in
official gold holdings; (2) a $920 million
increase in SDR, of which $867 million
Table B2.^U.S. Merchandise Exports and Imports, by Major World Areas 1—-Balance of
Payments Basis
[Millions of dollars, seasonally adjusted]
1968
1968
I
II
1970
1969
1969
III
IV
I
II
III
IV
IP
Change:
1969 IV1970 I
EXPORTS
Total, all countries (line 3,
tables 1, 2, 8)
Agricultural goods - .
Nonagricultural goods
Developed countries, total.. .
Western Europe
...
United Kingdom
Other Western Europe
(incl. EEC). _.. .
C anada
Japan
Australia, New Zealand,
and South Africa
..
33,588
6,294
27,294
36,473 7,946
6,011 1,667
30, 462 6,279
8,386
1,540
6,846
8,878
1,608
7,270
8,378 7,472
980
1,479
6,899 6,492
9,585
1,758
7,827
9,581
1,590
7,991
9,835 10,200
1,683 1,683
8,152 8,517
365
23,023
10,539
1,969
25,674
11,638
2,026
5,406
2,382
449
5,693
2,621
501
6,109
2,970
514
5,816
2,580
494
5,499
2,256
392
6,486
3,056
536
6,742
3,084
513
6,950
3,239
584
7,213
3,415
584
263
176
8,580
8,141
2,959
9,612
9,179
3,503
1,933
1,958
728
2,120
1,972
732
2,456
2,023
761
2,086
2,177
736
1,864
2,304
689
2,520
2,200
876
2,571
2,352
946
2,655
2,334
987
2,831
2,330
1,114
176
-4
127
365
1,384
1,354
338
368
355
323
250
354
360
390
354
-36
Developing countries, total.. 10,565
Latin American Kepublics
and other Western
Hemisphere
5,274
E astern E urope
220
Other countries in Asia
and Africa
5,071
10,799
2,540
2,693
2,769
2,562
1,973
3,099
2,839
2,885
2,987
102
5,532
253
1,211
45
1,340
49
1,408
70
1,312
61
1,095
34
1,515
64
1,446
85
1,463
80
1,557
76
94
-4
5,014
1,284
1,304
1,291
1,189
844
1,520
1,308
1,342
1,354
12
IMPORTS
Total, all countries (line 15,
tables 1, 2, 8)
32,964
35,835
7,820
8,132
8,569
8,443
7,576
9,606
9,263
9,390
9,685
295
Developed countries, tctal. . . 23,788
Western Europe
10, 203
United Kingdom .
2,075
Other Western Europe
(incl. EEC)
8,128
Canada
8,592
Japan
4,069
Australia, New Zealand,
and South Africa
924
26,156
10, 214
2,112
5,604
2,436
495
5,870
2,577
529
6,139
2,749
585
6,172
2,456
469
5,473 7,044
1,848 3,022
609
408
6,778
2,807
573
6,848
2,566
517
7,033
2,653
572
185
87
55
8,102
9,994
4,893
1,941
2,044
897
2,048
2,078
978
2,164
2,085
1,066
1,987
2,378
1,116
1,440
2,422
988
2,413
2,447
1,308
2,234
2,396
1,278
2,049
2,713
1,296
2,081
2,699
1,385
32
-14
89
1,055
227
237
239
222
215
267
297
273
296
23
Developing countries, total. . 9,176
Latin American Republics
and other Western
Hemisphere. _.
... 5,137
Eastern Europe
205
Other countries in Asia
and Africa
3,834
9,679
2,216
2,262
2,430
2,271
2,103
2,562
2,485
2,542
2,652
110
5,217
199
1,256
63
1,261
48
1,369
49
1,259
45
1,143
44
1,389
57
1,333
49
1,370
49
1,437
68
67
19
4,263
897
953
1,012
967
916
1,116
1,103
1,123
1,147
24
BALANCE
638
126
254
309
-65
-104
-21
318
445
515
70
Developed countries, total. _ . -765
-482
Western Europe
1,424
336
United Kingdom
-86
-116
Other Western Europe
(incl. EEC)
1,510
452
Canada
-451
-815
Japan
-1,110 -1,390
Australia, New Zealand,
and South Africa
_
460
299
-198
-54
-46
-177
44
-28
-30
221
-71
-356
124
25
26
408
-16
-558
34
-73
-36
277
-60
102
673
67
180
762
12
78
89
-55
-8
-86
-169
72
-106
-246
292
-62
-305
99
-201
-380
424
-118
-299
107
-247
-432
337
-44
-332
606
-379
-309
750
-369
-271
144
10
38
Total, all countries
Developing countries, total..
Latin American Republics
and other Western
Hemisphere
Eastern Europe
Other countries in Asia
and Africa
624
111
131
116
101
35
87
63
117
58
-59
1,389
1,120
324
431
339
291
-130
537
354
343
335
-8
137
15
315
54
-45
-18
79
1
39
21
53
16
-48
-10
126
7
113
36
93
31
120
8
27
-23
1,237
751
387
351
279
222
-72
404
205
219
207
-12
p Preliminary.
1. Seasonally adjusted country and area data shown in this table correspond to the country and area data shown, unadjusted, in table 8, lines 3 and 15.
NOTE.—Seasonally adjusted quarterly details may not add to unadjusted annual totals.
28
resulting from net repayments by foreigners of drawings on mutual swap
facilities with the United States.
Total liquid liabilities to foreigners
increased $1,194 million during the
first quarter. The difference between
this increase and the $386 million increase in reserve assets equals the $808
million liquidity deficit. Liquid liabilities to foreign commercial banks decreased $1,537 million, of which over
$1.0 billion resulted from a decline in
U.S. banks' liabilities to their foreign
branches. Liquid liabilities to foreign
official agencies increased $2,744million;
those to international and regional
organizations increased $154 million;
and those to other foreigners decreased
$167 million.
The first quarter deficit of $1,941
million in the official reserve transaction
balance consisted of the $2,744 million
rise in liquid liabilities to foreign official agencies, partly offset by a $417
million reduction in certain nonliquid
liabilities to foreign official agencies and
the $386 million increase in U.S. reserve
assets.
Details of Major Transactions
Special financial transactions
Changes in "certain nonliquid liabilities' ' to foreign official agencies are
considered as transactions financing
the official reserve transactions balance
since switches in foreign official dollar
holdings between liquid and nonliquid
forms indicate no change in the strength
of the dollar in the foreign exchange
markets. That such switches, for the
most part, do not reflect changes in
our underlying liquidity position has
been recognized by considering most
transactions in "certain nonliquid liabilities" as special financial transactions for the liquidity balance.
The major exception in the past has
been purchases of "nonliquid" securities by Germany under the agreement
to offset foreign exchange costs of U.S.
military expenditures in Germany, which
increased "certain nonliquid liabilities"
but were not considered special financial
transactions. It now appears more
appropriate to consider as special
financial transactions all changes in
SURVEY OF CURRENT BUSINESS
June 1970
"certain nonliquid liabilities" to foreign foreign official agencies had a favorable
official agencies—as used in calculation effect of $157 million on the liquidity
of the official reserve transactions balance in the first quarter. Included
balance, table 3, line 21—thereby were purchases by the World Bank of
simplifying the concept of special finan- $94 million of U.S. agency bonds, and
cial transactions.
purchases—principally by Japan—of
Table A2 has been changed accord- foreign obligations from the Exportingly, and "certain nonliquid liabilities" Import Bank amounting to $88 million.
have been separately identified. Under
The sale of obligations of foreigners
the new definition, special financial by the Export-Import Bank also favortransactions are calculated to have ably affected the official reserve transfavorably affected the liquidity balance actions balance, but a $15 million runby $2,723 million in 1968, when Ger-down of special deposits with the U.S.
many purchased $501 million of securi- Treasury reduced the total favorable
ties, as compared with a favorable effect to $73 million, about $10 million
effect of $2,301 million under the more than in the fourth quarter.
previous definition. In 1969, when
Germany purchased $249 million of
Goods and Services
securities, special financial transactions
are now calculated to have adversely
The balance on goods and services
affected the liquidity balance by $628
in
the first quarter improved by $234
million. As previously calculated, the
million,
seasonally adjusted, to a surplus
adverse effect of special financial transof
$885
million (table Bl). There were
actions in 1969 was $907 million.
favorable movements in trade, transSpecial financial transactions, as now portation, and investment income. Aldefined, adversely affected the liquidity though U.S. military expenditures
balance by $268 million in the first abroad fell significantly, the balance on
quarter 1970, an unfavorable shift of military transactions moved adversely
$325 million from the fourth quarter of because of a drop in military sales.
1969. "Certain nonliquid liabilities" to
foreign official agencies declined $425
million in the first quarter. The major Merchandise trade
adverse transaction was Germany's
The balance on merchandise trade
liquidation before maturity of $542
million of nonmarketable, medium- rose to a seasonally adjusted surplus
term U.S. Government securities— of $515 million in the first quarter, comrepresenting half of the securities that pared with surpluses of $318 million
Germany had purchased during fiscal and $445 million, respectively, in the
years 1968 and 1969 under the offsetthird and fourth quarters of 1969. The
agreement. (Since the securities were improvement in the first quarter
denominated in German marks, the balance was smaller than that in the
revaluation of the mark last October fourth quarter of 1969, but the cumularaised the dollar equivalent of the tive improvement since mid-1969 has
liquidated securities from $500 million brought the surplus to an annual rate
at the time of issue to $542 million. The
of $2.1 billion in the opening quarter
$42 million increase was largely hedged
through revaluation of U.S. Government of 1970, sharply above the mere
mark holdings; see technical notes.) $0.6 billion recorded for the year
In addition, foreign official agencies 1969. Trade figures now available for
reduced nonliquid time deposits in U.S. April show no change in the balance
banks $159 million. Partly offsetting from the first quarter rate.
The $70 million first quarter gain in
those adverse transactions was a $300
million purchase by Canada of non- the surplus reflected a $365 million rise
marketable, medium-term U.S. Gov-in exports, to $10,200 million, and a
$295 million rise in imports, to $9,685
ernment securities.
Special financial transactions other million. These increases, which exthan "certain nonliquid liabilities" to ceeded those in the fourth quarter, are
June 1970
rather high—nearly 15 percent per
annum for exports and over 12 percent
for imports. The first quarter improvement in the surplus was concentrated
in trade with the developed countries.
Substantial gains in the balances with
continental Western Europe and Japan
more than offset deteriorating balances
with the United Kingdom and with
Australia, New Zealand, and South
Africa taken together. There was little
net change in the overall surplus with
developing countries (table B2). (These
figures are all on a balance of payments
basis which excludes Department of
Defense exports and imports and reflects various other adjustments to the
trade data reported by the Census
Bureau.)
Exports
The $365 million increase in exports
in the first quarter was entirely in
shipments of nonagricultural goods. As
economic activity in continental Western Europe and Japan continued strong,
there was an increase of more than $200
million in U.S. exports of nonagricultural industrial supplies and materials—
mainly chemicals, metals, and coal. In
addition, machinery exports, both electrical and nonelectrical, rose $100 million. Shipments of electrical machinery
probably received some boost from the
termination in mid-February of the
prolonged strike in that industry. Exports of civilian aircraft and parts increased by nearly $100 million; the rise
in deliveries of complete aircraft considerably exceeded that figure, but
deliveries of aircraft parts declined.
Delivery of the new jumbo jets was
only a minor factor in the first quarter
rise in aircraft exports, although
stepped-up deliveries are expected in
the second quarter. These first quarter
increases were partly offset by a $40
million decline in automotive exports,
especially to Canada, which followed a
$100 million drop a quarter earlier.
Agricultural exports were virtually
unchanged from the high level of the
fourth quarter, but may be affected in
subsequent months by ample output of
grains and oilseeds entering world
markets
from
competing foreign
suppliers.
SURVEY OF CUEEENT BUSINESS
Imports
The $295 million increase in total
imports in the first quarter was larger
than might have been expected in view
of the slowdown in domestic economic activity. Special factors suggest
only a partial explanation of this
development.
Imports of nonfood consumer goods
rose $200 million after a temporary
flattening in last year's fourth quarter.
A portion of the first quarter rise may
have reflected anticipatory buying associated with the recent upsurge in legislative discussion of import quotas:
imports of apparel and footwear, the
major focus of these discussions, accounted for almost two-thirds of a
$100 million overall increase in nondurable consumer goods. However, a
$100 million gain in durable consumer
goods, distributed widely among a
variety of products, was not associated
with any known special factors. Furthermore, imports of industrial supplies
and materials and of capital goods
showed a combined rise of $130 million,
reflecting gains of $70 million and $60
million, respectively.
Imports of foods and beverages increased more than $120 million in the
first quarter, after an almost equally
strong gain in the preceding quarter.
Both increases seemed to be largely
connected with special circumstances.
For example, meat imports, which are
subject to quota, alone accounted for
two-thirds of the rise in total foodstuff
imports in the first quarter when the
new 1970 quota year started. In the
final quarter of 1969, meat imports
contracted, presumably to stay within
that year's annual voluntary quota
limitations. Despite that contraction
the fourth quarter saw a $100 million
rise in overall foodstuff imports. Heavy
coffee arrivals were responsible for $85
million of that rise, and reflected substantial inventory buying in anticipation of reduced world supplies and
higher prices resulting from frost damage to the Brazilian crop. The value of
coffee imports declined $20 million in
the first quarter, reflecting a 20 percent
drop in volume largely offset by a 17
percent rise in coffee prices (unit
values), and total coffee inventories
fell 13 percent.
29
Military transactions
The balance on military transactions
(excluding transfers under military
grants) slipped $28 milllion further into
deficit in the first quarter of 1970, to
$921 million, as transfers under military sales contracts continued to
fall from their recent peak in the
third quarter of 1969. On the other
hand, military expenditures abroad were
down about $40 million from the last
quarter of 1969. All major categories
were lower, with the largest fall-off
occurring in construction and the
purchases of petroleum.
Construction projects have been completed in Korea, the Eyukyu Islands
and Germany; and planned military
construction for the year is substantially smaller than in recent years. Payments for contractual services have also
turned downward, reflecting planned or
actual closure of several oversea bases.
A decline in personnel spending, associated with troop withdrawals from
Vietnam, is also evident for the first
time in the March quarter. In the
second half of 1969, the effect of the
troop withdrawals on military expenditures abroad tended to be overshadowed
by midyear pay raises of U.S. military
and civilian personnel. The second
quarter of 1970 will also be adversely
affected by the recent pay rise.
Investment income
The balance on investment income
rose $93 million in the first quarter to a
surplus of $1,160 million. U.S. receipts
were $2,489 million, a rise of $175 million of which increased income on U.S.
direct investment abroad accounted for
$131 million. The rise was particularly
large for the EEC countries and may
have been partly related to the regulations of the Office of Foreign Direct
Investment which permitted dividends
received from foreign affiliates in the
first 60 days of 1970 to be counted
towards meeting 1969 quotas in respect
to reinvested earnings. (Although the
same provision was in effect in 1969,
such flows were not particularly noticeable in that year's first quarter.) Payments of investment income to foreigners rose $82 million in the first
quarter to $1,329 million, largely reflecting a rise in liabilities to foreigners
on which such payments must be made.
SUKVEY OF CUEEENT BUSINESS
30
U.S. Private and
Foreign Capital
Net U.S. private and foreign capital
transactions showed an outflow of $741
million in the first quarter, seasonally
adjusted, an adverse swing of $1,054
mi lion from the $313 million inflow in
the fourth quarter (table Cl). Increased net outflows of U.S. corporate
capital (assets and liabilities) and reduced foreign purchases of U.S. stocks
were only partly offset by a favorable
shift in bank-reported claims.
U.S. corporate capital
The net outflow of U.S. corporate
capital was $952 million in the first
quarter, a deterioration of $826 million
from the $126 million outflow in the
fourth quarter (see table C2). The
small size of the fourth quarter outflow
was partly caused by a $0.3 billion
reflux of direct investment funds from
Germany following the revaluation of
the mark. Excluding that flow, the
adverse shift from the fourth to the
first quarter was $0.5 billion (compared
with an adverse shift of about $0.1
billion between the fourth quarter of
1968 and the first quarter 1969). This
June 1970
swing largely reflected increased U.S. between the fourth quarter 1968 and
direct investment abroad. On the basis first quarter 1969 was adverse by less
of the new seasonal adjustments now than $100 million.) The fourth quarter
being used for direct investment and was favorably affected by a number of
for other corporate claims and liabilities special factors without which there
(see technical note), it seems unlikely would have been a direct investment
that very much of the seasonally ad- outflow of almost $0.8 billion, seasonjusted shift was associated with year- ally adjusted, not much different from
end positioning under the direct invest- the outflow in the third quarter. As
ment program administered by OFDI. noted earlier, there was a $0.3 billion
Among the various accounts that inflow from Germany in the fourth
contributed to the first quarter swing, quarter, partly reversing earlier large
direct investment outflows increased outflows made in anticipation of the
by over $1.0 billion and the inflow on revaluation of the mark. In addition,
new Eurobond issues and other lia- partial liquidation of a major direct inbilities fell by about $150 million. vestment in Latin America had a favorThese adverse factors were partly offset able impact on direct investment of over
by related favorable shifts, totaling $0.2 billion. (The parent company
$350 million, in corporate claims other received notes in payment for some of
than direct investment. (These first this partial liquidation which resulted
quarter figures exclude a $286 million in an increase in long-term corporate
increase in long-term claims associated claims on nonaffiliated foreigners, thus
with foreign direct investment in the offsetting most of the favorable impact
United States; these flows are indicated of the liquidation as reflected in the
separately in table Cl and are discussed total net change in foreign assets and
in a later section.)
liabilities of U.S. corporations.)
Direct investment.—Outflows for U.S.
The outflow in the first quarter 1970
direct investment abroad increased from was enlarged by about $0.1 billion
$276 million in the fourth quarter to because of the OFDI rule that per$1,304 million in the first—an adverse mitted companies to retroactively credit
swing of $1,028 million. (The swing toward their 1969 quotas on reinvested
Table Cl.—U.S. Private and Foreign Capital1
[Millions of dollars, seasonally adjusted]
Line
Credits (+ ); debits (-) [Lines in tables 1, 2, and
8 in which transactions are included are indicated
in()]
1 U.S. private and foreign capital (32 1, 52 through 56f)i • 2
U.S. corporate capital (assets and liabilities)
2
(table C2, line 1).
17.3. corporate long-term claims associated with
3
foreign direct investment in the United States (39f)
4
Foreign direct investment in the United States
(52) 5
U.S. transactions in foreign securities (34 through
6
7
8
9
10
11
12
13
14
15
16
17
18
19
Foreign securities
newly issued in the United
States (34t)2
Redemptions (35)2
Other transactions in foreign securities (36f)2.
Foreign transactions
in U.S. outstanding securities (53t)3
Bonds (53t)2
Stocks (53*)
Claims and nonliquid liabilities
reported by
U.S. banks (37 38 54f)2
Long-term claims (37)
Short-term claims (38) 2
Long-term liabilities (54 f)
Claims and liabilities reported by brokerage
concerns (40f, 56t)
Claims (40f) „
„ Liabilities (56f)
Special financial transactions (table A2, lines 4, 14,
15, 20, and 21) .
1968
la68
1969
n
I
765
-907
-921
—1,556
787
214
IV
III
239
-478
-271
—342
I
11
—301
II
419
—420
—843
-210
-167
1969 IV19701
IP
IV
III
-1,443
Change:
1970
-741
-1,054
—952
-826
*-286
-286
313
—126
3
319
832
251
5
41
246
164
152
270
3463
—1,133
— 1, 479
-268
-99
-327
-440
-304
-539
—567
-69
-159
-90
-1,618
546
-1,652
478
-424
-521
-531
—269
85
-571
-281
-402
-121
130
183
127
97
-355
-76
29
116
87
803
256
117
571
48
-523
104
152
-52
169
79
492
133
-85
-577
62
133
—65
-6
-490
12
254
131
98
25
17
161
26
130
5
480
-9
501
-12
168
32
115
-83
9
-4
13
1
100
-99
-14
19
-33
-16
57
-73
-2
38
-40
371
126
-229
-71
-75
-4
-61
-305
< 2, 126
1,747
30
42,096
1,565
245
358
-493
-105
-8
182
330
-871
-291
-382
91
80
-52
-36
1
<297
-12
4309
578
451
800
224
140
84
234
49
190
-5
-65
165
—237
7
-147
-1
58
-103
102
-11
-26
15
67
190
48
325
-202
69
29
40
611
-403
-18
115
—210
28
230
23
25
131
*> Preliminary.
t Portion of line.
1. Excludes liquid liabilities.
2. Excludes special financial transactions shown in line 19.
3. Part of the $463 million foreign direct investment in the United States (line 4) was financed
through a $286 million long-term note held by a U.S. corporation. That U.S. corporate claim
19 69
244
42
536
-8
459
8
792
4
-142
-9
-110
51
752
31
-533
80
-229
-319
35
-371
193
-56
54
has been omitted from the total of U.S. corporate assets and liabilities in line 2 and is shown
separately in line 3.
4. Excludes purchase of $210 million by a foreign company of stocks issued by a U.S. subsidiary. This purchase is treated as a foreign direct investment in the United States.
NOTE.—Details may not add to totals because of rounding.
June 1970
earnings any dividends declared by
foreign affiliates in the first 60 days of
1970. It could be determined, in some
cases, that the parent firms left these
funds with their subsidiaries abroad;
such transactions show up as an inflow
of income and as an equal outflow of
direct investment capital on intercompany account. (These outflows
count against their 1970 quotas.) In
the absence of a quota to be met, the
funds could simply have been left
abroad as reinvested (undistributed)
earnings, and both income receipts
and direct investment outflows would
have been lower in the first quarter.
Aside from the special factors affecting direct investment in the two quarters, there still seems to have been an
increase in outflows of more than $0.4
billion in the first quarter. This was
probably associated, in part, with the
projected 20 percent global increase
this year in plant and equipment
expenditures of foreign subsidiaries of
U.S. corporations indicated by the
OBE survey taken last December. The
bulk of the unfavorable shift in direct
investment was with Western European
countries where the projected increase
in plant and equipment expenditures is
32 percent.
New issues oj securities.—New issues
of securities sold abroad by U.S. corporations declined from $258 million in
the fourth quarter to $155 million in the
first quarter, a $103 million fall-off. The
low level of corporate borrowing in
Eurobond markets was associated with
tight monetary and capital market
conditions in foreign countries, particularly in Germany, and a further drop in
sales of convertible issues (which became less attractive with the weakness
in U.S. stock prices). In the first
quarter, U.S. corporations utilized $93
million of their $155 million of Eurobond
proceeds to finance foreign direct investment and transferred $54 million to
the United States, leaving corporate
deposits of Eurobond proceeds in the
Eurodollar market virtually unchanged
(see next section).
Increases in corporate liabilities other
than new issues resulted in a first
quarter inflow of $218 million, $42
million less than in the fourth quarter.
SURVEY OF CURRENT BUSINESS
Other U.S. corporate claims.—Corporate short-term claims improved $150
million in the first quarter, to inflows
of $31 million compared with outflows
of $119 million in the fourth quarter.
However, $123 million of the favorable
shift in this account was associated
with the adverse shift in new security
issues. In the fourth quarter $131
million of the proceeds of new issues
had been deposited abroad (conse-
Selected Capital Market Developments
Percent
12
10
90 Day Eurodollar Rate
Market Yield on 90 Day
U.S. Treasury Bills
1963
160
=100
150
140
130
120
Net Foreign Purchases
of U.S. Sfeete t
New Issues
Sold /toad by
U.S. Corporations
-200
1967
1
quently, the balance of payments inflow
due to the new issues was partly offset
by the $131 million increase in shortterm claims on foreigners.) In the first
quarter, new issues fell, but only $8
million of proceeds was deposited
abroad. Thus, improvement in this
account essentially offset the related
decline in new security issues. Net
long-term claims increased by only $52
million in the first quarter (exclusive
of the $286 million transaction discussed below in connection with foreign
direct investment in the U.S.). This
represented a favorable shift of $197
million from the $249 million outflow
recorded in the fourth quarter. However, almost $0.2 billion of the fourth
quarter outflow (increase in claims)
was the result of the previously mentioned liquidation of a major U.S.
direct investment in Latin America,
in which the U.S. parent received
notes in payment with a consequent
increase in long-term claims. In the
absence of that increase in claims, the
first quarter improvement would have
been only $22 million.
Foreign direct investment
U,S. Stock Prices
(Standard and Poor's 500)
200 -
31
1968
1969
1970
Data are adjusted for balance of payments purposes and exclude
special financial transactions. See table Cl, line 11 and table C2, line 7.
U.S. Department of Commerce, Office of Business Economics
7(
The inflow of foreign direct investment was a record $463 million in the
first quarter. This was an increase of
$193 million from the fourth quarter
of last year, which was also exceptionally large due mainly to new investments by European companies.
The bulk—just over $400 million—of
the first quarter inflow was the result
of a single new investment by a British
international oil company in a large
U.S. petroleum company. However,
a large proportion of the impact of
this inflow on the balance of payments
was offset by the $286 million increase
in U.S. long-term corporate claims
on nonaffiliated foreigners (separately
identified on line 3, table Cl) which
resulted from a related transaction.
Changes in intercompany accounts
of United States companies with their
foreign parents resulted in a net inflow
of $48 million in the first quarter
compared to a net outflow of half that
amount in the fourth quarter. There
were a number of large, but mostly
SURVEY OF CURRENT BUSINESS
32
offsetting, transactions on intercompany accounts during the first quarter.
Foreign securities
U.S. capital outflows reflecting net
purchases of foreign securities were
$159 million in the first quarter, seasonally adjusted, up $90 million from
the unusually low fourth quarter figure.
Purchases of new issues increased $121
million to $402 million in the first
quarter. Purchases of new Canadian
issues increased $61 million and the
World Bank, which was absent from
the market in the fourth quarter, drew
down $48 million on an issue negotiated
in late 1968. Inflows from redemptions
were down $56 million from the fourth
quarter to $127 million. Partly offsetting these adverse shifts, U.S. residents7 net sales of outstanding foreign
June 1970
securities increased by $87 million to the renewed weakness in the stock
$116 million in the first quarter, pri- market, net foreign purchases have been
marily reflecting a shift in trading in small or negative. However, net sales
Japanese stocks from large purchases in were still relatively moderate during
the fourth quarter to small net sales in the first quarter which may have been
the first. The first quarter also saw fur- associated with the first quarter decline
ther net sales of foreign equities to in interest rates in the Eurodollar
residents of Europe and Canada, sales market, a development that reduced the
which also occurred in the fourth appeal of that market as an alternate
quarter.
investment. The deterioration in net
purchases was widespread in the first
quarter, but purchases by Canadians
U.S. outstanding securities
and Europeans recorded particularly
Foreign investment in U.S. stocks marked declines. On the other hand, the
shifted adversely by $577 million be- longstanding pattern of net sales by
tween the fourth and the first quarters, United Kingdom residents swung to net
from net purchases of $492 million to purchases in the first quarter.
net sales of $85 million. Most of the
Net foreign purchases of outstanding
fourth quarter purchases were early in U.S. bonds (other than Treasury issues
the quarter when stock prices tempo- and those already discussed under
rarily strengthened. Since then, with special financial transactions and U.S.
Table C2.—Net Change in Foreign Assets and Liabilities of U.S. Corporations l
[Millions of dollars, seasonally adjusted]
Line
1
Credits (+); debits (-)
[Lines in tables 1, 2, and 8 in which transactions
are included are indicated in ( )]
Total
1968
I
II
IP
IV
III
Change:
1969 IV1970 I
-301
—420
—843
— 167
-126
5
—952
—826
-451
-878
-831
-902
-1,015
-877
-276
-1,304
-1,028
-424
-75
34
-216
-32
-484
-57
—55
-165
-17
-82
-93
-80
— 11
-13
148
-249
—119
5 -52
31
197
150
715
434
642
342
254
13
165
166
20
212
276
43
256
(*)
59
52
145
212
182
78
154
64
—28
-14
2,144
1,029
580
585
586
393
401
152
218
258
155
-103
2,144
1,029
580
585
-103
-785
-631
-158
-75
-1,139
-187
-422
-510
-3, 070
3
4
Other corporate claims:
Long-term (39) 2
Short-term (40f)
-220
-772
5
6
Corporate liabilities other than new issues of securities:
Long-term (55) 2
Short-term (56t)
7
New issues of securities sold abroad by U.S. corporations (53f) 3
8
Uses of funds obtained through new issues of securities
sold abroad by U.S. corporations
Additions to, and refinancing of, direct investment
(33ft
- Short-term claims reported by U.S. residents other
than banks (40^)
.
.
Reductions in corporate liabilities to foreign residents (55], 56ft
Transfers of funds to U.S. residents (60ft 4
12
I
-342
-3, 208
11
IV
III
1970
-1,048
-1,556
Direct investment (33)
10
II
1969
-478
-907
2
9
19 68
1969
214
—15
—2
-218
-196
v Preliminary.
fPortion of line.
*Less than $500,000.
1. Excludes banking and brokerage claims and liabilities.
2. Excludes brokerage transactions.
3. Excludes funds obtained abroad by U.S. corporations through bank loans and other credits
and also excludes securities issued by subsidiaries incorporated abroad. However, securities
issued by finance subsidiaries incorporated abroad are treated as if they had been issued by
U.S. corporations if the proceeds of such issues are transferred to U.S. parent companies.
586
-231
393
401
-321
-190
-273
66
-82
—2
-136
258
155
-100
-93
7
-131
-8
123
-27
-64
-27
14
-70
-141
218
-190
152
-151
-15
-15
-13
4. A (—) reflects a decline in foreign deposits and money market paper held in the United
States.
5. Excludes an increase in U.S. corporate long-term claims of $286 million that was associated
with increased foreign direct investment in the United States. See table Cl, line 3.
NOTE.—Details may not add to totals because of rounding.
Table C3.—Transactions in U.S. Securities Other Than Treasury Issues
[Millions of dollars]
Line
1
Increase in foreign assets (+) (Transactions are included in
tables 1, 2, and 8, in line 53)
1968
I
Total-
2
New issues of securities sold abroad by U.S. corporations 1
(table C 2, line 8)
3
Investment by international and regional organizations in nonguaranteed U.S. Government agency bonds (table A2, line
15)
4
5
6
Other transactions (table Cl, line 9)
Bonds (table Cl, line 10)
Stocks (table Cl, line 11)
1968
19r-9
2
2
1970
19 69
II
III
IV
I
II
IV
III
IP
4,389
3,112
839
1,122
1,115
1,312
1,388
365
396
963
297
2,144
1,029
580
585
586
393
401
152
218
258
155
-38
-41
78
119
184
-43
61
134
94
578
42
536
451
-8
459
800
8
792
803
51
752
256
104
152
117
-52
169
571
79
492
48
133
-85
118
336
2, 126
30
2, 096
1,747
182
1,565
Digitized forf FRASER
Preliminary.
http://fraser.stlouisfed.org/
1. Proceeds from securities issued by finance subsidiaries incorporated abroad that are
transferred
to the
U.S.
parent companies are treated as if they had been issued by U.S.
Federal Reserve Bank
of St.
Louis
2
297
-12
2
309
2. Excludes purchase of $210 million by a foreign company of stocks issued by the U.S.
subsidiary. This purchase is treated as a foreign direct investment in the United States.
NOTE. —Details may not add to totals because of rounding.
SUEVEY OF CURKENT BUSINESS
June 1970
ary, reversing the very large outflow
of funds during December. During the
first quarter as a whole, there was a
decrease in acceptances and in deposits
and financial paper, partly offset by a
rise in collections outstanding, with
little change in loans. A large part of
Bank reported claims
the $371 million outflow in the fourth
Claims on foreigners reported by
quarter and the $130 million inflow
U.S. banks, including both short and
long-term, shifted favorably by $492 in the first reflected shifts in claims on
million, seasonally adjusted, to an Canada and Japan.
Long-term claims reported by U.S.
inflow of $156 million in the first quarter
(a reduction in claims) from an outflow banks decreased $26 million; in the
of $336 million in the fourth. Short- fourth quarter they had dropped $35
term Claims dropped sharply in Janu- million.
corporate transactions) moved favorably in the first quarter, rising $54
million to $133 million. This may have
been associated with temporary expectations, early in the year, that U.S.
bond prices would rise.
Table Dl.^U.S. Government Grant and Capital Transactions
[Millions of dollars, seasonally adjusted]
Line
Lines in tables 1, 2,
and 8 in which transactions are indicated
in( )
1968
19 68
1970 Change:
1969
1969
I
II
III
IV
I
II
III
IV
IP
1 Government grants
(excluding military)
and capital, net
(29, 42 through
44,
-4,241 —3,506 —1,152 — 1 Oil —1,146 —934 —842 — 1,079 —964 -619 —976
45f, 57t, 58I)1
2
Grants (excluding
military), net
(29)
-362
-435 -492 -342
-1,707 -1,644
-518 -372 -412 -377
-418
Additions to as3
sets (42, 43)
-3, 651 -3, 388 -1,060
-955
-863 -773 -776 -1,001 -841 -771 -882
4
Credit repayments
(44,
1,334
324
295
310
280
301
340
345
334
1,186
326
45I)1
Liabilities other
5
than marketable or convertible securities,1 net (57j,
sst)
6
Special financial transactions (table A2
lines 5, 16 through
19,23)
-69
192
-25
52
—128
30
-64
2,179
-225
281
748
504
646
81
114
-96
-145 -288
240
-51
127 -192
1969 IV19701
—357
35
-111
10
-291
-320
t Portion of line.
» Preliminary.
1. Excludes special financial transactions shown in line 6.
NOTE.—Details may not add to totals because of rounding.
33
U.S. Government Grants and
Capital
The net outflow on U.S. Government
grant and capital transactions (exclusive of special financial transactions)
was $976 million, seasonally adjusted,
in the first quarter, $357 million higher
than in the fourth quarter (table Dl).
The bulk of this swing reflected changes
in U.S. Government liabilities (other
than marketable or convertible securities) : net movements of liabilities
associated with military sales contracts,
after seasonal adjustment, showed a
first quarter net outflow of $55 million,
compared with an inflow of $229 million in the fourth quarter when Germany made rather large prepayments
under the agreement for offsetting the
foreign exchange costs of American
forces.
The net outflow on grants and additions to U.S. Government assets (lines 2
and 3 of table Dl) increased $76 million,
seasonally adjusted, in the first quarter.
This partly reflected larger transfers
under the farm products programs of
$55 million. Although Export-Import
Bank disbursements increased less tha*n
$20 million, a more significant quarterto-quarter change took place in regard
to type of products financed by the
Bank. Its disbursements financing military sales contracts decreased almost
$40 million, while financing of other
goods and services increased by about
$60 million in the first quarter as
compared with the fourth.
Technical Notes
Table D2.—- U.S. Government Grants and Transactions Increasing U.S. Government Assets
[Millions of dollars]
1968
Total (table 1, lines 29, 42,
and 43, with sign reversed).. 5,358 5,032
1969
19 68
1969
1970
I
II
III
IV
I
II
III
IV
I f
1,434
1,509
1,178
1,237
1,136
1,654
1,089
1,154
1,281
Change:
1969 IV19701
127
Less: Estimated dollar payments to foreign countries
and international and
regional organizations
(table 5, line A.34) 1
626
746
137
206
111
172
171
209
194
171
198
27
Equals: Estimated transactions involving no
direct dollar outflow from
the United States (table 5,
line A. 26)
4,732
4,286
1,297
1,302
1,067
1,066
964
1,445
894
983
1,083
100
1,230
1,129
400
408
175
247
198
497
178
256
314
58
1,765
1,740
437
461
461
406
387
536
410
408
403
-5
1,517
1,258
370
90
382
52
394
38
371
42
337
43
366
46
272
35
284
36
303
64
19
28
Under farm product
disposal programs
Under Foreign Assistance Acts and related
programs
Under Export-Import
Bank Act
Other
221
159
p Preliminary.
1. The identification of transactions involving direct dollar outflow from the United States is made in reports by the operDigitizeding
foragency.
FRASER
Such data for fourth quarter 1968, for first, second, and fourth quarters 1989, and for first quarter 1970, however,
are simple extrapolations by OBE, because of incomplete reports from one operating agency.
http://fraser.stlouisfed.org/
NOTE.—Details
not add to totals because of rounding.
Federal Reserve
Bank of may
St. Louis
Revisions
The balance of payments tables published
in this issue of the SURVEY have been revised
to correct data previously published and to
incorporate new information. Revisions have
been made prior to 1968 only in the following
accounts (line references are to tables 1, 2
and 8): transportation receipts (line 6), 1967;
transportation payments (line 17), 1967;
private payments for other services (line 19),
1966 and 1967; private remittances (line 27),
1966 and 1967; and direct investment abroad
(line 33), 1966 and 1967. As usual, data for
the last 2 years, 1968 and 1969, were subject
to numerous revisions.
Seasonal adjustment
Using the revised data, seasonal adjustments for most accounts were recalculated
by extending to 1969 the period used for
deriving adjustment factors. For the current
account items (table 1, lines 1 through 31),
a ratio adjustment is used, but for the capital
account items, which are sometimes positive
and sometimes negative, an additive adjustment is used. The seasonal adjustment
for the liquidity balance is calculated as the
algebraic sum of the seasonal adjustments for
each of the above-the-line items that determine that balance. A similar procedure is
Continued on Page 53
SUEVEY OF CUKEENT BUSINESS
34
June 1970
Table 1.—U.S. International
[Millions
(Credits +; debits -)
Line
1 Exports of goods and services
2
Excluding transfers under military grants
3
4
5
6
Merchandise, adjusted, excluding military
Transfers under military sales contracts
Transfers under military grants, net
Transportation
7
g
9
10
Travel
Fees and royalties from direct investments
Other private services
_
Other U.S. Government services.
...
11
12
13
Income on U.S. investments
abroad:
Direct investments 2.
Other private assets
U.S. Government assets
14
Imports of goods and services
1
. ..
1952
14,861
14 792
19 916
19 819
17 309
16 861
16 045
15 834
14 413
13 893
20 303
18 864
20 704
18 122
21 254
17 078
11 764
n ss
16 097
n.s s
12 213
n ss
14 243
n ss
1 439
1 556
13 449
12 412
1 238
10 203
n ss
520
1 033
2 582
1 488
4 176
1,198
1950
1949
1953
1 383
1 738
13 265
n ss
448
1 317
271
64
407
131
364
77
371
70
334
83
422
100
392
100
364
132
419
126
387
132
473
129
429
152
550
130
471
206
574
128
491
173
589
162
21
869
167
66
1 064
174
102
1 112
1 294
190
109
1 492
192
198
1 419
1 442
185
98
205
204
216
252
-6,985
—8,202
-10,343
-9,616
—12,001
-15,047
—15,766
-16,546
—5, 067
—493
—459
—5 973
—455
—583
—7 557
—799
—646
—6 874
-621
—700
—9 081
—576
—818
—11 176
—1 270
—974
—10 838
—2 054
— 1 115
—10 975
—2 615
— 1 081
—929
—245
.
-
1951
1947
69
_
1948
1946
97
211
n ss
192
15
16
17
Merchandise, adjusted, excluding military 1
Military expenditures
Transportation .
18
19
20
Travel
Private payments for other services. . _ .
U .8. Government payments for other services
-462
-190
-102
—573
—195
-178
—631
—219
-211
-700
-153
-235
—754
—153
—250
-757
—202
-254
—840
21
22
Income on foreign investments
in the United States:
Private payments 2
U.S. Government payments
—197
—229
—16
—263
— 15
—308
—25
—338
—31
—367
—47
—357
—64
—375
—86
7,876
7,807
11 714
11,617
6,518
6,429
6,218
2,412
1,892
5,256
3,817
4,938
2,356
4,708
532
-2,991
-2,922
—2,722
-2,625
—4,973
—4,525
-5,849
-5,638
—4,537
—4,017
-4,954
—3,515
-5,113
—2,531
—6,657
-2,481
—532
—211
-4 997
—109
—454
—520
—3 484
—79
—409
—1 439
—3 035
—71
—443
—2 582
—1 960
—128
-503
—4 176
580
—2 125
302
— 175
-1,265
-1,048
-1,160
23
24
Balance on goods and services (lines 1 and 14)
Excluding transfers under military grants (lines 2 and 14) .
25
26
Unilateral transfers, net; transfers to foreigners (— )
Excluding Military grants
._
27
28
29
30
Private remittances
Military grants of goods and services
Other U.S. Government grants 1
U.S. Government pensions and other transfers
_ -.
...
— 17
6,966
—673
—69
—682
—97
—697
—448
—2, 274
—1 897
—3 894
—46
66
.. _
25
31
Balance on goods, services, and unilateral transfers (lines 23 and 25, or 24 and
26) 3
4 885
8 992
1 993
32
Transactions in U.S. private assets, net; increase in assets (— )
-413
-987
-906
-553
— 721
— 150
-660
-118
103
42
-621
-254
301
—322
—508
-491
113
25
39
33
34
35
36
Direct investments 2
Foreign securities newly issued in the United States -_
Redemptions
Other transactions in foreign securities
37
38
Claims reported by U.S. banks: l
Long-term
Short-term
41
_
__
-85
308
-131
___
__.
42
43
Loans and other long-term assets 1 1
Foreign currencies and other assets
44
45
Repayments on credits:
Scheduled
Nonscheduled (including sales of foreign obligations to foreigners)
46
Transactions in U.S. official reserve assets, net; increase in assets (— )
47
48
49
50
51
52
53
54
Gold 4
SDR
Convertible currencies
Gold tranche position in IMF *
- -
-
_ -
_ . _ _ _ . .
-
--
--
-
__
__ _
_
59
60
U S. Treasury marketable or convertible bonds and notes 1 l
Deposits and monye market paper held in the United States
62
63
__
.-
Balance on transactions in U.S. and foreign liquid and non-liquid assets, including reserves (lines 32, 41, 46, and 51).
Allocations of special drawing rights (SDR) 3
Errors and omissions, net
---
See footnotes at end of table.
-383
-735
-270
66
133
138
223
—177
—112
—14
—75
-36
-87
115
146
n.a.
4
2
-65
-13
19
-78
5
—43
-37
-70
-28
-91
-7
-21
21
-3,019
-4,224
-1,024
-652
-156
-156
-420
-218
-3, 343
-4,405
—113
-1, 555
-684
-173
-414
—37
-458
-3
-847
-716
238
86
294
443
295
-623
-3,315
-1,736
-266
-623
-2,162
-1, 530
-164
-1,153
-206
-102
-985
A
-338
(*)
57
58
61
—1 949
-29
182
_ ._ _
Other liabilities reported by U.S. private residents other than banks:
Long-term
- Short-term
_ _ _ _ __
Nonmarketable liabilities of U.S. Government, including medium-term
securities and long-term obligations payable prior to maturity only under
special conditions: 1
Associated with specific transactions
_
__ __
Other medium-term securities and long-term obligations
55
£6
-141
—135
}
Transactions in foreign assets in the United States, net; increase in foreign
assets (U.S. liabilities) (+).
Direct investments 2
U.S. securities other than Treasury issues
Long-term liabilities reported by U.S. banks
62
—7
-1,837
1
Transactions in U.S. Government assets, excluding official reserve assets, net;
increase in assets. (— )
_.
—749
—396
295
137
-852
-286
-240
—87
— 124
35
-314
Claims reported by U.S. residents other than banks:
Long-term
Short-term.
__ _ _ _
__
__
39
40
-230
—221
-277
-5
1
88
11
305
429
487
1,758
-33
-415
1,256
1,743
-53
-379
1,161
205
-1,327
558
174
10
-100
4
34
-192
56
-12
6
-10
-24
A
-2
15
1,912
80
-7
74
(*)
20
-36
581
1,673
90
126
132
(*)
(*)
37
1
95
1,074
158
70
(*)
-11
-33
36
-11
35
-4
44
(*)
-14
-42
77
300
-158
-68
-269
-340
n.a.
-370
n.a.
-895
n.a.
n.a.
130
941
790
-659
700
302
-82
919
1,319
1,010
-5,040
-9,853
-3,108
-1,297
2,249
-656
-322
1,729
155
861
1,115
717
-124
354
-165
497
220
SURVEY OF CURRENT BUSINESS
June 1970
35
Tr an sac t ion s—Con tinu ed
of dollars]
1954
1955
1956
1957
1958
1959
1960
1961
1962
1963
1964
21,251
17,889
22,536
19,948
26,339
23,772
29,071
26,653
25,503
23,217
25,626
23,652
29,253
27,488
30,235
28,770
32,045
30,506
34,163
32,601
38,611
37,271
41,027
39,399
44,362
43,360
47,108
46,203
51,426
50,622
56,273
55,514
1
2
12, 929
182
3,362
1,171
14, 424
200
2,588
1,406
17, 556
161
2,567
1,617
19, 562
375
2,418
1,967
16,414
300
2,286
1,638
16, 458
302
1,974
1,646
19, 650
335
1,765
1,782
20, 107
402
1,465
1,803
20, 779
656
1,539
1,955
22, 252
657
1,562
2,103
25, 478
747
1,340
2,317
26, 447
830
1,628
2,414
29, 389
829
1,002
2,608
30, 681
1,240
905
2,790
33,588
1,395
804
2,969
36, 473
1,515
759
3,131
3
595
136
499
150
654
158
539
123
705
229
720
122
785
238
772
137
825
246
808
141
902
348
810
143
919
403
898
153
947
463
941
164
957
580
964
195
1,015
660 "
1,029
236
1,207
756
1,114
265
1,380
924
1,227
285
1,590
1,030
1,337
326
1,646
1,136
1,502
335
1,775
1,246
1,609
353
2,058
1,369
1,753
376
7
8
9
10
1,725
230
272
1,912
258
274
2,171
297
194
2,249
363
205
2,121
417
307
2,228
466
349
2,355
646
348
2,768
793
381
3,044
904
471
3,129
1,022
498
3,674
1,256
456
3,963
1,421
509
4,045
1,614
593
4,517
1,717
638
4,973
1,949
765
5, 639
2,267
932
11
12
13
-17,795 -19,627
-20,752
-20,861
1965
1966
1967
1968
1969
Line
4
5
6
-23,342
-23,355
-23,148
-25,357
-26,617
-28,691
-32,278
-38,060
-40,990
-48,129
-53,564
14
-12,803 -13,291 -12,952
-2, 949 -3, 216 -3,435
-1,408
-1,569
-1,636
-15,310
-3, 107
-1,759
-14,744
-3, 087
-1,915
-14,519
-2, 998
-1,943
-16,218
-3, 105
-2, 128
-17,011
-2, 961
-2, 316
-18,647
-2,880
-2, 462
-21, 496
-2, 952
-2, 675
-25, 463
-3, 764
-2, 922
-26, 821
-4,378
-2, 993
-32, 964
-4,535
-3, 269
-35, 835
-4, 850
-3, 608
15
16
17
-1,275
-389
-235
-1,372
-384
-281
-1,460
-427
-282
-1,610
-427
-301
-1,750
-482
-313
-1,785
-490
-406
-1,939
-460
-398
-2, 114
-445
-447
-2, 211
-500
-535
-2, 438
-439
-550
-2, 657
-470
-642
-3, 195
-554
-687
-3, 022
-648
-758
-3, 390
-709
-710
18
19
20
*-395
-94
-414
-154
-438
-201
-530
-139
-547
-281
-731
-332
-729
-278
-771
-339
-924
-401
-1,003
-453
-1,241
-488
-1, 593
-549
-1,764
-598
-2, 231
-702
-3, 686
-777
21
22
5,321
1,959
4,741
2,153
6,712
4,145
8,319
5,901
4,642
2,356
2,284
310
5,898
4,133
7,087
5,622
6,688
5,149
7,546
5,984
9,920
8,580
8,749
7,121
6,302
5,300
6,117
5,213
3,296
2,493
2,709
1,949
23
24
-5,642
-2,280
-5,086
-2,498
-4,990
-2,423
-4,763
-2,345
-4,647
-2,361
-4,422
-2,448
-4,025
-2,260
-3,951
-2,486
-4,152
-2,613
—4,277
-2,715
-4,037
-2,697
-4,386
-2,758
-3,810
-2,808
-3,874
-2,969
-3,632
-2,828
-3,594
-2,834
25
26
-504
-3,362
-1,647
-129
-456
-2,588
-1,901
-141
-555
-2, 567
-1, 733
-135
-570
-2, 418
-1,616
-159
-563
-2, 286
-1,616
-182
-599
-1,974
-1,633
-216
-382
-1,765
-1,664
-214
-397
-1,465
-1,853
-235
-450
-1, 539
-1,919
-245
-536
-1,562
-1,917
-262
-530
-1, 340
-1,888
-279
-581
-1, 628
-1,808
-369
-531
-1,002
-1,910
-367
-726
-905
-1,802
-441
-715
-804
-1,707
-406
-784
-759
-1,644
-406
27
28
29
30
-2,138
-15,930
-10,353
-2, 642
-1,026
-11,527
-2,901
-1,204
-1,009
-258
-222
-1,153
-304
-217
-361
-59
-321
1,722
3,556
-5
1,873
3,136
2,536
3,269
5,883
4,364
2,492
2,243
-336
-885
-1,622
-1,255-
-3,071
-3,577
-2,936
-2,375
-3,878
-4,180
-3,426
-4,459
-6,578
-3,794
-4,332
-5,638
-5,412
-5,374
32
-667
-309
124
-21
-823
-128
190
-42
-1,951
-453
174
-142
-2,442
-597
179
52
-1,181
-955
85
-380
-1,372
624
95
-139
-1,674
-554
201
-309
-1, 598
-523
148
-387
-1,654
-1,076
203
-96
-1,976
-1,250
195
-50
-2,328
-1,063
192
194
-3, 468
-1,206
222
225
-3, 661
-1, 210
406
323
-3, 137
-1,619
469
-116
-3,209
-1,703
546
-97
-3, 070
-1,667
478
-305
33
34
35
36
-102
-488
-226
-162
-166
-386
-349
-256
-152
-351
-181
-57
-153
-995
-136
-1,125
-126
-324
-755
-781
-941
-1,524
-232
325
337
-84
255
-730
358
-105
330
-871
37
38
-12
-147
-35
-29
-16
-131
-40
-20
-42
40
-77
-20
-40
-354
-127
-431
-132
-222
162
-485
-623
-88
428
-112
-331
-281
-479
-220
-982
-424
155
39
40
93
-310
-629
-958
-971
-353
-1,104
-926
-1,094
-1,661
-1,676
-1,598
-1,534
-2,421
-2,268
-2,184
41
-306
-108
-383
-343
-545
-563
-993
-624
-1,176
-339
-1,051
-356
-1,213
-528
-1,939
-261
-2, 129
-245
-2,201
-447
-2,375
-19
-2,454
-16
-2, 501
-265
-3, 634
209
-3, 714
62
-3, 477
89
42
43
507
416
479
659
620
434
583
54
579
695
599
680
661
326
594
123
651
221
803
429
997
6
1,114
269
1,291
s -87
44
45
480
182
-869
-1,165
2,292
1,035
2,145
606
1,533
377
171
1,222
568
52
-880
-1,187
46
298
41
-306
-798
2,275
1,075
1,703
857
890
461
125
571
1,170
1,173
-967
47
48
17
626
— 113
29
—220
266
—349
-94
49
50
-345
544 fI
A
1,665
31
182
141
-563
-367
17
-40
442
— 116
-135
1,310
1,357
2,457
1,132
1,259
3,571
2,120
2,467
1,697
2,983
3,318
383
3,320
6,852
9,410
12,554
51
124
141
1
197
181
(*)
232
323
-2
155
237
9
98
(*)
-8
238
449
-1
141
282
6
73
324
-5
132
134
5
-5
282
62
-5
-84
237
57
-357
203
86
909
981
258
1,016
1,052
319
4,389
606
832
3,112
-676
52
53
54
8
-25
12
-79
40
62
-2
94
-17
106
23
12
1
-91
50
176
3
-112
-13
-23
-38
113
29
149
180
296
85
499
715
759
642
140
55
56
-14
-40
52
7
15
26
85
614
251
443
—56
489
— 23
197
—7
129
—49
-19
469
-97
2,010
138
—41
57
58
8
1,053
529
531
-135
1,977
-52
639
31
1,042
686
2,149
126
1,630
512
1,253
-728
1,399
1,374
919
39
2,590
46
67
-1,561
2,350
412
3,080
-500
1,209
-167
8,575
59
60
261
-26
-2,112
-4,568
-356
1,878
-717
-2,033
-1,290
-2,760
-4,765
-3,787
-1,978
-1,155
850
3,809
(*)
—540
537
— 1 024
-94
— 1 183
-870
814
-1,034
61
62
60
371
390
1,012
361
260
-1,156
-1,103
-1,246
-509
-1,118
-576
-514
-1,088
-514
-2,924
63
SUEVEY OF CURRENT BUSINESS
36
June 1970
Table 1.—U.S. International
[Millions
1960
(Credits +; debits -)
Line
1 Exports of goods and services
2
Excluding transfers under military grants
3
4
5
6
Merchandise, adjusted, excluding military
Transfers under military sales contracts
Transfers under military grants, net..
-----Transportation _
-..
._--_-
7
8
9
10
Travel
Fees and royalties from direct investments
Other private services
.
Other U.S. Government Services..
11
12
13
Income on U.S. investments
abroad:
Direct investments 2
Other private assets
U.S. Government assets
14
_
1
_
.
Imports of goods and services
1961
19 32
I
II
III
IV
I
II
III
IV
I
6,842
6,399
7,628
7,006
6,984
6,702
7,800
7,382
7,321
6,997
7,682
7,139
7,096
6 849
8 136
7 785
7,543
7,153
8,621
7,995
7,489
7 271
8,392
8 087
4,664
58
443
424
5 058
122
622
457
4 736
69
282
462
5 192
85
418
438
5 062
4 970
4 718
5 357
4 960
93
351
469
96
390
454
228
626
494
127
218
501
5 249
150
543
464
89
247
455
5 057
5 513
71
324
415
183
84
225
36
245
90
221
36
299
98
228
43
192
131
225
39
188
101
232
40
260
103
243
41
299
114
231
41
200
145
235
43
206
121
241
44
279
143
241
48
284
147
240
52
188
170
242
52
518
147
59
564
157
57
520
160
88
753
183
145
640
184
65
621
197
91
642
197
61
864
216
164
643
219
72
699
224
126
645
225
91
1 057
-5,775 -6,082 —6,060 —5,438 —5,329 —5,688 —6 137 —5 995
5,934
—6,415
II
IV
III
206
305
506
235
182
6 572 —6 437
15
16
17
Merchandise, adjusted, excluding military 1 -_.
M ili tary expenditures
-.
Transportation
_.
__ _
18
19
20
Travel
Private payments for other services
U.S. Government payments for other services .
-281
-107
-64
-471
-110
-70
—668
—134
—110
-330
—131
-69
-284
— 110
-463
—114
—298
—112
-509
—108
—91
-82
—75
-745
-124
—143
—387
—117
—77
—678
—134
—150
—360
— 133
—88
21
22
Income on foreign investments
in the United States:
Private payments 2
U.S. Government payments
-180
-101
-183
-86
-174
-77
— 195
— 175
—178
— 171
—206
— 189
— 189
-179
—69
—65
—68
—76
-80
-84
—215
—68
-86
—90
1,067
624
1,546
924
924
642
2,361
1,943
1,992
1,668
1,994
1,451
959
712
2,141
1,790
1,610
1,220
2,206
1,580
917
699
1,955
1,650
—818
-571
-987
-636
-1,096 -1,271
-645
-706
-819
-601
-966
-661
—104
—351
-475
-101
—390
-538
-119
-626
-467
-113
-218
-430
-117
-305
-485
-58
-59
-3, 835 -3, 863 -3, 558 -3, 488 -3 404 -3, 464 -3 686 —3 965 -3, 946 -4, 090 -3, 973 -4, 209
-769
-781
-761
.._
-737
-763
-801
-786
-781
-705
-770
—810
—727
-427
-530
-421
-547
-561
-538
-414
-545
-457
-598
-511
-438
23
24
Balance on goods and services (lines 1 and 14)
Excluding transfers under military grants (line 2 and 14)
25
26
Unilateral transfers, net; transfers to foreigners (— )
Excluding military grants
27
28
29
30
Private remittances
Military grants of goods and services
Other U.S. Government grants 1
U.S. Government pensions and other transfers
.__
._
—99
-960 -1,187
-517
-565
-849 -1,029
-567
—611
-960 -1,186
-643
—636
-81
-443
-381
-56
-98
-622
-418
-50
—97
—282
-417
-53
— 107
-418
-448
—94
—97
... -
-324
-480
-543
-486
—102
-247
-413
-63
-60
-56
-57
-68
-59
31
Balance on
goods, services, and unilateral transfers (lines 23 and 25, or 24
and 26).3
107
359
75
1,333
808
141
1,154
514
935
-992
—679 — 1,497 -1,024
-672
-520 -1,210
-334
-187
-365
-442
-138
-234
-170
-476
-312
-343
-133
-157
66
-91
37
-33
45
(*)
56
28
-169
-597
-119
-255
-36
159
5
107
-335
-66
.
- -
...
-56
32
Transactions in U.S. private assets, net; increase in assets ( — )
-651
—738
-944
33
34
35
36
Direct investments 2
_
__ _
Foreign securities newly issued in the United States
Redemptions
_ _
Other transactions in foreign securities
-305
-295
53
-23
-312
-111
55
— 110
-329
-53
47
—105
37
38
Claims reported by U.S. banks: l
Long-term
Short-term
12
-104
-66
-37
-27
-411
-72
-443
39
40
Claims reported by U.S. residents other than banks: 1
Long-term
Short-term
-2
13
-12
-145
-2
-64
-158
41
_
-- -
- ...
Transactions in U.S. Government assets, excluding official reserve assets,
net; increase in assets (— ).
42
43
Loans and other long-term assets * 1
Foreign currencies and other assets
44
45
Repayments on credits:
Scheduled
_
Nonscheduled (including sales of foreign obligations to foreigners) .
46
47
48
49
50
51
52
53
54
_
Transactions in U.S. official reserve assets, net; increase in assets ( — )
Gold <
SDR
Convertible currencies
Gold tranche position in IMF 4
Transactions in foreign assets in the United States, net; increase in foreign
assets (U.S. liabilities) (+).
2
D irect investments
U S securities other than Treasury issues
Long-term liabilities reported by U.S banks
--
57
58
Other liabilities reported by U.S. private residents other than banks:
Long-term
-_ Short-term
Nonmarketable liabilities of U.S. Government, including medium -term
securities and long-term lobligations payable prior to maturity only
under special conditions:
Associated with specific transactions
Other medium-term securities and long-term obligations
59
60
U S Treasury marketable or convertible bonds and notes 1 1
Deposits and money market paper held in the United States
55
56
61
62
63
Balance on transactions in U.S. and foreign liquid and nonliquid assets,
including reserves (lines 32, 41, 46, and 51).
Allocations of special drawing rights (SDR) 3
Errors and omissions, net
See footnotes at end of table.
-230
-390
-145
1,032
— 1,545 — 1,012
-728
—95
46
—71
-24
-339
-458
—107
29
-88
-91
40
-73
82
-34
— 15
-356
-159
41
—69
-13
38
98
-40
989
-601
-461
24
-3
-44
-113
-217
-118
-49
17
-154
-23
11
-162
-3
83
-383
414
-467
-490
-397
-446
25
-277
-479
-31
-238
-141
-353
—150
-234
-95
-388
-142
-409
-309
-103
-537
-684
-657
-14
-67
-48
-507
-151
-486
-77
-75
29
132
17
108
5
160
24
183
7
98
5
192
634
78
6
210
51
129
1
154
58
110
476
207
145
159
175
740
1,071
371
-320
-213
768
427
-164
881
389
50
94
638
921
371
-170
146
510
304
116
446
24
-161
11
124
-114
-324
-483
-54
312
237
44
104
331
351
14
468
1,151
688
363
526
-26
835
32
-5
109
81
102
150
-25
25
691
844
506
79
160
40
170
1
59
118
1
53
5
1
-11
— 11
3
104
1
152
-1
4
—5
3
-53
-5
-6
-1
-27
-3
76
-65
(*)
54
10
27
124
422
56
607
-185
634
131
-33
-31
-109
157
-76
-250
-232
26
41
6
8
3
-4
66
-1
145
(*)
7
-1
-23
4
6
2
-8
80
26
-12
35
32
8
-22
-15
-49
3
13
7
-54
-1
(*)
-32
(*)
20
98
141
25
159
288
251
206
-94
340
202
922
198
234
-283
-214
-192
-243
698
4
-39
365
-734
-864
-430
-208
-531
-631
-756
360
-263
-599
-168
-378
67
-623
117
-179
-458
-726
20
332
77
SURVEY OF CURRENT BUSINESS
June 1970
37
Transactions—Continued
of dollars]
1<)64
1963
IS>65
1966
19 67
I
II
III
IV
I
II
III
IV
I
II
III
IV
I
II
III
7,849
7,402
9,066
8,388
7,924
7,731
9,324
9,081
9,313
9,006
9,813
9,289
9,079
8,864
10,405
10,111
9,047
8,675
11,131
10,466
9,801
9,529
11,049
10,729
10,588
10,312
11,315
10,954
10,633
10,439
11,826
11,655
11,599
11,255
5,014
166
447
452
5,766
243
678
548
5,267
103
194
559
6,205
145
244
543
6,197
198
307
538
6,357
187
524
582
5,981
162
215
606
6,943
201
294
590
5,638
200
372
507
7,087
225
665
636
6,380
194
271
628
7,342
211
320
644
7,121
193
276
586
7,419
257
361
658
7,011
172
194
701
7,838
207
171
663
205
153
255
56
284
151
254
59
308
153
255
58
218
205
265
62
247
174
274
60
334
171
284
65
364
181
274
67
262
230
282
73
271
208
304
69
377
209
303
72
416
227
307
74
316
280
312
70
321
235
334
73
432
238
334
86
492
256
328
77
781
233
88
716
257
108
665
254
109
967
278
193
933
291
95
881
315
114
803
306
119
1,056
345
129
1,031
343
105
1,054
368
135
843
341
119
1,034
371
150
964
372
112
982
411
139
890
394
117
I
IV
II
Line
III
IV
12,046
11,797
11,154
10,999
12,310
12,152
1
2
7,642
328
344
640
7,971
377
249
725
7,197
206
154
750
7,871
328
158
675
3
4
5
6
345
301
341
90
358
257
378
81
427
274
380
90
502
288
370
80
359
318
376
84
7
8
9
10
1,209
436
226
1,034
418
119
965
435
154
1,073
415
119
1,446
449
246
11
12
13
-9,716 -10,191 -10,499 -10,584
14
-6,023 -6,670 -7,116 -6,809 -6,578 -7,165 -7,523 -7,425 -6,890 -8,251 -8,552 -8,586
-8,576
-9,423 -10,196
-9,865
-3,934 -4, 232 -4,320 -4, 525 -4,355 -4, 594 -4, 659 -5, 039 -4, 605 -5,491 -5, 492 -5,908
-725
-737
-699
-697
-719
-747
-676
-763
-763
-748
-726
-794
-563
-541
-690
-768
-533
-676
-577
-503
-645
-680
-628
-650
-5,909
-877
-633
-6, 265 -6,522
-975
-925
-802
-801
-6, 767 -6,605
-987 -1,085
-686
-697
-6, 573 -6,398
-1, 075 -1,106
-836
-764
-7,245
-1,112
-696
15
16
17
-320
-101
-95
-549
-108
-92
-831
-121
-157
-414
-115
-103
-341
-113
-137
-572
-121
-100
-852
-133
-164
-446
-134
-135
-406
-110
-122
-627
-106
-121
-932
-113
-168
-473
-110
-139
-424
-111
-144
-701
-114
-138
-1,037
-123
-197
-495
-122
-163
-464
-131
-151
-863
-135
-146
-1,325
-144
-208
-543
-144
-183
18
19
20
-217
-91
-218
-95
-212
-104
-276
-110
-242
-111
-242
-110
-230
-109
-289
-123
-272
-122
-302
-118
-286
-118
-380
-131
-346
-133
-346
-134
-401
-138
-500
-144
-445
-138
-416
-148
-417
-138
-486
-174
21
22
1,826
1,379
2,396
1,718
808
615
2,515
2,272
2,735
2,428
2,648
2,124
1,556
1,342
2,980
2,686
2,157
1,785
2,880
2,215
1,249
977
2,463
2,144
2,012
1,736
1,892
1,531
437
243
1,962
1,790
1,883
1,539
1,855
1,606
655
500
1,726
1,568
23
24
-1,093 -1,377
-647
-699
-858
-664
-949
-705
-974 -1,252
-667
-728
-843
-628
-969 -1,016 -1,471
-675
-644
-806
-916
-645
-983
-663
-1,098
-822
-1,113
-752
-819
-625
-780
-609
-1,049
-705
-1,128
-880
-928
-773
-769
-611
25
26
-131
-447
-447
-69
-133
-678
-500
-66
-135
-194
-467
-63
-137
-244
-504
-64
-127
-307
-473
-67
-129
-524
-533
-66
-128
-215
-429
-72
-147
-294
-453
-75
-130
-372
-440
-74
-154
-665
-517
-135
-142
-271
-420
-82
-155
-320
-431
-77
-122
-276
-618
-81
-142
-361
-530
-80
-128
-194
-376
-121
-138
-171
-386
-85
-128
-344
-485
-92
-274
-249
-510
-96
-171
-154
-446
-156
-154
-158
-362
-96
27
28
29
30
733
1,019
-50
1,567
1,761
1,397
714
2,011
1,141
1,409
333
1,480
914
779
-382
1,182
834
726
-273
957
31
-1,062 -1,719
-277 -1,401 -1,309 -1,572 -1,204 -2,493 -1,579
-532
-446 -1,236
-919
-1,274
-472
-1,668
-1,183
-933
-1,265
-2,257
32
-944
-329
52
131
-441
-304
42
53
-893
-271
74
-7
-643
-466
118
-9
-1,075
-305
123
122
-694
-241
75
155
-1,249
-198
89
55
-903
-349
100
-10
-403
-407
130
39
-710
-473
137
-73
-1,120
-390
102
-72
33
34
35
36
-461
23
201
176
-41
260
69
-134
127
145
1
-59
102
229
107
-399
153
-18
179
-382
-77
-82
(*)
-248
37
38
-130
-35
6
241
-6
188
-20
5
-68
-6
-17
-174
-51
-30
-28
-70
-16
-57
-68
-88
-164
75
36
-22
-85
-444
39
40
-393
-556
-351
-622
-225
-401
-304
-593
-300
-337
-646
-640
-510
-626
41
-703
73
-605
22
-540
-182
-653
141
-699
-94
-470
-114
-631
51
-582
91
-692
-90
-583
-128
-645
-138
-1,280
441
-781
-127
-733
40
-839
-144
42
43
130
33
159
31
159
7
152
10
165
6
176
182
157
23
184
3
182
7
185
226
253
192
194
(*)
268
(*)
-419
178
6
358
(*)
44
45
-375
-181
46
15
92
1,012
-583
-486
43
-79
-525
-514
50
-72
-161
-166
52
15
-707
-84
50
87
-430
-127
54
94
-625
-284
38
40
-491
-71
38
35
-781 -1,190
-581
-302
63
55
24
49
27
77
-178
-402
-116
74
-488
-530
-248
-405
-72
-532
-239
84
-382
-671
-47
-15
50
-128
1
25
158
114
-27
-219
-57
-80
-271
-289
-461
-725
-70
-405
-260
-467
-561
-50
-624
-266
-444
-31
-572
-100
-527
68
125
26
131
34
164
241
241
25
147
52
32
123
227
-5
-51
303
70
-151
842
68
41
271
424
68
82
-6
1,027
111
116
196
38
46
-73
-20
172
832
590
124
119
68
209
173
121
51
-33
-46
6
1
-28
59
-58
15
-228
131
258
118
-45
135
-205
-118
-58
68
-56
-466
-413
330
178
-26
222
134
-163
22
-426
335
-173
46
1,007
-31
-424
-10
-462
-5
-1, 145
-48
47
48
49
50
748
1,306
508
421
-56
392
1,123
1,858
-312
-367
72S
333
-70
1,120
954
1,316
91
1,816
2,424
2,521
51
-5
14
3
47
114
33
40
52
12
-87
103
14
17
-42
36
29
14
52
-27
-30
14
-24
-26
135
85
57
152
-95
-242
43
44
-227
-51
22
55
59
52
173
60
38
520
439
-113
107
100
110
109
382
64
133
371
70
329
616
12
520
-141
112
34
206
52
53
54
-6
-30
4
65
-6
17
-5
-75
-5
5
(*)
19
-28
65
-5
24
8
-5
-5
68
10
39
16
47
29
39
12
66
61
134
78
57
125
94
-24
90
-19
183
3
132
55
56
95
5
-14
-10
72
-50
290
-1
157
-50
-50
-1
178
204
29
51
122
-2
-52
76
—6
8
—53
-10
—26
76
—23
56
53
93
(*)
105
(*)
\)
-57
335
-160
135
57
58
478
195
392
674
391
-20
113
70
-2
-171
46
283
8
943
-13
1,535
-41
-619
79
-335
156
809
-148
212
-548
171
-295
376
-527
1,140
-191
663
-14
-775
104
526
111
1,480
211
1,849
59
60
S9 -1,033
-869
-679
264
-695
-711
-176
274
-543
61
-45
-100
118
-487
-122
-550
-2
-414
63
-743 -1,015
10
-4
388 -1,390 -1,676 -1,344
-338
-177
-404 -1,342 -1,400 -1,453
62
-85
-53
-310
-669
259
44
-432
-447
SUEVEY OF CUEKENT BUSINESS
38
June 1970
Table 1.—U.S. International Transactions
[Millions of dollars]
19f >8
(Credits +; debits -)
Line
I
1 Exports of goods and services
2
Excluding transfers under military grafts
3
4
5
6
Travel
Fees and royalties from direct investments
Other private services
Other U S Government services
11
12
13
Income on U.S. investments
abroad:
Direct investments 2
Other private assets
U S Government assets
14
Imports of goods and services
Merchandise adjusted, excluding military 1
Military expenditures
Transportation
- -
18
19
20
Travel
Private payments for other services
U.S. Government payments for other services
21
22
Income on foreign investments
in the United States:
Private payments 2
U.S. Government payments .
_
-
IV
I
14,881
14,655
13 992
13 846
15 475
15 284
15 0^8
14*949
7 942
299
237
666
8 640
416
223
756
8 290
340
198
806
8 716
341
146
741
7 438
390
196
607
9 872
381
226
845
8 965
'405
147
900
10 198
338
190
781
10 088
*280
149
776
377
265
399
89
465
300
401
95
548
316
403
83
385
365
406
86
437
302
434
84
558
352
440
108
631
335
436
90
432
381
444
93
490
326
474
88
1 098
453
164
1 253
491
203
1 151
494
168
1 472
512
231
1 344
509
184
1 307
563
229
1 322
569
194
1 666
'626
326
1 601
623
204
-11,000
-11,952
-12,861
-12,317
-11,012
-14,151
—14 388
—14 012
-13,740
-7,682
-1, 103
-723
-8, 201
-1, 112
-877
-8, 462
-1, 147
-905
-8, 619
-1, 173
-764
-7, 333
-1, 198
-704
-9, 739
-1, 187
-1,002
-9 169
—1 220
— 1 026
-9 594
—1 245
-877
-9, 420
-1, 205
-855
—505
—161
-153
—751
—162
-141
—1 237
—163
-207
-529
—161
-257
-549
-178
-154
—870
— 178
-147
—1 378
— 175
—209
-593
—178
—200
-590
-188
-161
-498
-174
-523
-184
-584
-156
-625
-188
-712
-185
-837
-192
-1,024
-188
-1,113
-212
-1,112
-209
988
752
1,289
1,065
-64
-262
1,084
938
912
716
730
504
-396
-543
1,462
1,272
1,359
1,210
-1,107
-881
-786
-640
-874
-683
-871
-723
-210
—226
-569
-102
-209
-147
-328
-104
-208
-190
-373
-102
-212
-149
-410
-101
Balance on goods and services (lines 1 and 14)
Excluding transfers under military grants (lines 2 and 14)
25
26
Unilateral transfers, net; transfers to foreigners (—)
Excluding military grants _
-883
-646
-966
-742
-906
-708
-878
-732
-826
-630
27
28
29
30
Private remittances
Military grants of goods and services
Other U.S. Government grants *
U.S. Government pensions and other transfers
-162
-237
-393
-92
-181
—223
-470
-91
-196
—198
-391
-122
-176
-146
-453
-102
—157
—196
-374
-99
Transactions in U.S. private assets, net ; increase in assets ( — ) _
33
34
35
36
Direct investments 2 _ _
Foreign securities newly issued in the United States
Redemptions
Other transactions i n foreign securities
_ . _ - _
37
38
Claims reported by U.S. banks: »
Long-term . _ _
Short-term
39
40
Claims reported by U.S. residents other than banks: l
Long-term
Short-term
41
. _ _ __
_
_____
_
Loans and other long-term assets __
Foreign currencies and other assets
44
45
Repayments on credits:
Scheduled
_ _
___
_
_
Nonscheduled (including sales of foreign obligations to foreigners) -
46
Transactions in U.S. official reserve assets, net; increase in assets ( — )-
51
52
53
54
_-
Transactions in U.S. Government assets, excluding official reserve assets, net;
increase in assets ( — )
42
43
47
48
49
50
_
_
_
__
4
Gold
SDR
Convertible currencies
Gold tranche position in IMF
4
_
-
_ __
_.
Transactions in foreign assets in the United States, net; increase in foreign assets
(U S. liabilities) (+) ~ —
2
Direct investments
U S securities other than Treasury issues.
Long-term liabilities reported by U.S. banks
_
-
_
57
58
Other liabilities reported by U.S. private residents other than banks:
Long-term
Short-term _
_ _ _ _ _
Nonmarketable liabilities of U.S. Government, including medium-term securities
and long-term
obligations
payable
prior
-•to
maturity
only
under special
conditions: l
Associated with specific transactions
Other medium-term securities and long-term obligations
_.
59
60
U S Treasury marketable or convertible bonds and notes *
Deposits and money market paper held in the United States l
55
56
61
62
63
--
Balance on transactions in U.S. and foreign liquid and nonliquid assets, including
reserves (lines 32, 41, 46 and 51)
-- --Allocations of special drawing rights (SDR) 3
Errors and omissions net
9 Preliminary.
n.a. Not available.
n.s.s. Not shown separately.
*Less than
$500,000 (+).
1. Details for lines 3 and 15 are given in table 4; for lines 29, 42, 43, 57 and 58, in table 5;
for lines 37 through 40, in table 6; and for lines 59 and 60, in table 7.
2. Excludes undistributed profits of subsidiaries.
3. The sum of lines 31 and 62 is numerically equal to net foreign investment in U.S. national
http://fraser.stlouisfed.org/
income and product accounts.
Federal Reserve Bank of St. Louis
1970
IP
11,925
11,729
23
24
32
IV
13,401
13,255
__
Balance on goods, services, and unilateral transfers (lines 23 and 25, or 24 and 26) 3 _-_
III
12,796
12,599
__
31
II
13,241
13,018
_ _.
15
16
17
III
11,988
11,751
Merchandise adjusted excluding military 1
Transfers under military sales contracts
Transfers under military grants net
Transportation
7
8
g
10
II
19C 9
487
106
323
-970
206
86
-378
-1,182
-947
-1,534
-1,344
-1,587
-1,347
-2,326
-792
-910
-1,676
-666
-436
131
-42
-973
-373
244
-4
-1, 028
-324
91
-31
-541
-570
80
-21
-992
-560
130
66
-1, 175
-277
85
-307
-907
-515
80
-71
4
-315
183
7
-1,384
-416
127
85
140
219
49
143
165
-79
4
-388
133
77
31
-588
131
255
35
-615
26
275
34
-327
-32
-587
—57
—81
-165
13
-82
-118
-80
-15
-13
248
-249
40
-338
-52
—743
589
-727
—525
-274
-470
-649
-351
-501
-1,171
130
-936
-102
-789
1
-818
34
-992
230
-987
-98
-702
-59
-797
16
-884
13
257
42
308
3
208
55
341
169
249
44
336
34
267
» -154
440
5 -11
282
88
904
-137
-571
-1,076
-48
-299
1,362
22
-74
-137
56
-317
-401
-57
267
-426
-474
-23
-575
-364
-73
-31
942
2,499
2,882
3,088
251
839
56
5
1,122
175
23
1,115
119
154
53
165
268
-47
273
r
-715
-154
-386
-11
-695
246
-228
-442
-233
1,083
-542
-44
-920
831
-253
3,000
4,466
4,030
1,059
1,516
41
1,312
256
246
1,388
-49
164
365
-174
152
396
-265
270
963
-188
463
297
-164
20
227
376
211
156
-83
59
65
145
113
282
45
54
-9
-41
772
-25
409
15
556
-70
95
44
-171
-54
-115
219
150
-78
-242
-212
-425
-22
54
-152
1,145
-114
435
1
1,315
-39
4,154
152
3,506
-281
-400
-182
1,376
156
101
442
151
1,135
1,126
1,903
-356
-261
-424
528
-1,222
-748
-722
-232
-357
-686
-1,047
867
-307
4. Reflects $259 million payment of gold portion of increased U.S. subscription to the
IMF in the second quarter of 1965.
5. Negative entry reflects repurchase of foreign obligations previously sold.
NOTE.—Details may not add to totals because of rounding.
Source: Department of Commerce, Office of Business Economics.
SURVEY OF CURRENT BUSINESS
June 1970
39
Table 2.—U.S. International Transactions—Seasonally Adjusted
[Millions of dollars]
Line
19 60
(Credits +; debits -)
1 Exports of goods and services
2
Excluding transfers under military grants
3
4
5
6
Merchandise adjusted excluding military i
Transfers under military sales contracts
Transfers under military grants, net
Transportation. _
_
7
8
9
10
Travel
_ _ _ _ _ _
Fees and royalties from direct investments
Other private services
Other U.S. Government services
11
12
13
Income on U.S. investments
abroad:
Direct investments 2
Other private assets
U.S. Government assets
14
_
Imports of goods and services
Merchandise, adjusted, excluding military l
Military expenditures
Transportation
_
18
19
20
Travel
Private payments for other services . _
U S Government payments for other services
21
22
Income on foreign investments
in the United States:
Private payments 2
U.S. Government payments
_
III
7,020
6,577
7,460
6,838
7,308
7,468
7 026
7 050
4 682
4 920
5 029
5 019
' 86
89
622
443
I
IV
88
282
451
II
III
I
IV
II
III
IV
7,514
7,190
7,488
7,468
6 945
7,221
7 415
7,717
7 327
8,415
7 789
7 731
7 ego
5 092
4 810
5 035
5 170
111
247
443
94
351
468
5 074
'no
5 339
*189
5 330
*154
5 036
390
486
626
480
218
486
*204
305
503
418
440
86
324
441
'l!2
543
451
7,766
7,949
7,965
227
95
222
36
237
103
228
43
231
116
227
39
228
107
229
40
237
109
241
41
240
120
232
41
242
127
239
43
247
127
238
44
250
152
240
48
231
154
242
52
229
148
244
52
571
151
84
592
152
62
569
166
112
623
178
91
687
188
92
650
192
102
715
203
81
715
211
106
678
221
102
736
218
137
736
232
114
894
232
118
—5,979
—6,019
—5 837
—5 522
—5 548
—5 605
—5 930
—6 069
—6 194
—6 336
—6,367
—6,463
-3,811
—781
—480
-3,854
—769
—479
—3, 646
—801
—3 433
-737
—3, 433
—3, 804
-3, 892
—3, 959
—4, 074
—781
-4, 076
—810
—514
—763
—536
—761
—493
—705
—493
—770
—470
—727
—490
-4,109
—487
-3,390
—786
—468
—509
—568
—435
—117
—74
—447
—117
—82
—437
—440
—437
—442
—466
—466
—483
—124
—431
—124
—126
— 103
— 113
—93
—123
— 109
—122
—79
—120
—101
— 122
—78
—91
-488
-114
—105
— 112
— 110
-180
—101
-185
-187
— 180
-174
— 181
— 186
-189
-195
—68
—76
-190
—65
-
_
15
16
17
II
19 62
224
89
222
36
_
___
I
71
443
447
.
19 61
___
—86
—77
—68
—69
—93
—502
— 192
-195
—80
—84
—86
—90
1,582
1,364
1,502
1,197
—959
—654
23
24
Balance on goods and services (lines 1 and 14)
Excluding transfers under military grants (lines 2 and 14)
1,041
598
1,441
819
1 471
1,189
1 946
1,528
1 966
1,642
1 883
1,340
1 538
1,291
1 697
1,346
1 523
1,133
2,079
25
26
Unilateral transfers, net; transfers to foreigners ( — )
Excluding military grants
_
—953
—510
— 1,173
—551
—890
—608
— 1 Oil
—953
—629
— 1 169
—856
—609
—974
—623
— 1 089
—859
—699
— 1,246
-620
27
28
29
30
Private remittances
M ilitary grants of goods and services
Other U.S. Government grants l
_ _
U S Government pensions and other transfers
—86
—443
—368
—56
—99
—622
—402
—101
—418
— 100
—99
— 107
—118
—390
—626
-524
-443
—113
—218
-470
— 112
—247
—452
—56
—351
—63
—97
—543
—469
—60
— 101
—436
—56
-466
— 50
—97
—282
—458
—53
—59
88
268
581
935
1 013
714
682
-1,024
_
31
Balance on goods, 3services, and unilateral transfers (lines 23 and
25 or 24 and 26)
32
Transactions in U.S. private assets, net; increase in assets (—).--
33
34
35
36
37
38
39
40
41
Direct investments 2
___
__
_
Foreign securities newly issued in the United States
Redemptions
Other transactions in foreign securities. _
Claims reported by U.S. banks:
Long-term.
Short-term
_ _ _
Claims reported by U.S. residents other than banks:
Long-term
Short-term
_
_.
.
.
_
44
45
Repayments on credits:
Scheduled.
_ _ ._ _ _ _
Nonscheduled (including sales of foreign
foreigners) v
51
-690
-1,260
-1,304
-262
—434
—635
-108
— 106
-76
55
—58
723
434
833
723
-1,229
-1,036
-576
-945
-869
—272
-429
-242
-498
-228
-455
-441
-930
—284
—483
—140
— 154
-336
-142
40
—73
—15
—110
—105
12
—97
-66
—27
—582
—72
82
—131
—185
—351
—34
—249
—2
40
—12
—88
—2
—49
—24
—257
—31
—86
29
—88
-483
—59
—496
—87
41
—69
46
—71
—305
—68
-997
53
—23
47
—467
—57
—641
— 165
— 157
66
—91
37
-33
38
(*)
45
543
56
28
_____
—259
-36
83
—3
—44
— 105
—49
—79
—66
—161
— 130
-23
67
5
—77
__
-137
—410
—374
463
—464
-551
—396
-392
—465
—344
—542
—504
—372
—570
—754
—552
—615
160
115
183
125
125
201
100
152
155
17
5
24
7
5
634
6
51
1
159
175
740
1,071
371
—320
—213
768
427
50
94
638
921
371
—170
146
510
304
— 161
11
124
—483
—54
312
—114
150
—25
25
237
44
_
Transactions in foreign assets in the United States, net; increase
in foreign assets (U.S. liabilities) (+)...
.. ...
109
81
102
-40
-152
24
-345
-213
obligations to
__
—119
—335
_
___ } —390
Transactions in U.S. official reserve assets, net; increase in assets
(-)
_
___
__
Gold 4
--SDR
Convertible currencies _ _
__..
Gold tranche position in IM F *
-169
—190
24
— 71
l
Transactions in U.S. Government assets, excluding official reserve assets, net; increase in assets (— )
Loans and other long-term assets 1._l
Foreign currencies and other assets
47
48
49
50
-624
-343
-264
—324
—626
l
42
43
46
—593
1,453
-3
-7
-330
—583
—624
165
131
149
58
476
145
— 164
881
389
116
446
24
104
331
351
14
-324
692
809
874
389
49
341
527
987
614
662
569
52
53
54
Direct investments 2
U.S. securities other than Treasury issues
Long-term liabilities reported by U.S. banks _ _
40
170
1
59
118
1
53
5
1
—11
—11
3
20
104
1
32
152
26
66
-1
41
145
(*)
77
7
—1
—5
3
—4
-i
6
-23
4
8
6
2
55
56
Other liabilities reported by U.S. private residents other than
banks:
Long-term__
_.
.
Short-term
4
-5
3
-53
-5
—6
—1
—27
-3
76
-8
80
26
— 12
35
32
8
—22
-15
-49
3
13
7
-54
57
58
Nonmarketable liabilities of U.S. Government, including medium-term securities and long-term obligationsl payable
prior to maturity only under special conditions:
Associated with specific transactions
_
_ _ _ Other medium-term securities and long-term obligations
-61
104
49
-66
-1
24
62
0
139
84
203
187
251
59
60
U.S. Treasury marketable or convertible bonds and notes 1
Deposits and money market paper held in the United States *_
660 642
292
162
144
248
917
456
351
466
61
Balance on transactions in U.S. and foreign liquid and nonliquid
assets, including reserves (lines 32, 41, 46, and 51)
Allocations of special drawing rights (SDR) 3
Errors and omissions, net
...
__
__
_
.
62
63
Digitized forSee
FRASER
footnotes at end of table.
|
131
-219
14
-282
-268
-594
-659
-260
-313
-341
-355
-454
-714
32
-398
-326
-343
-91
-225
-431
285
-563
-265
-118
-270
-459
-426
SURVEY OF CURRENT BUSINESS
40
June 1970
Table 2.—U.S. International Transactions—
[Millions
Line
19 53
(Credits +; debits -)
I
1
2
Exports of goods and services
Excluding transfers under military grants
3
4
5
6
Merchandise, adjusted, excluding military
Transfers under military sales contracts.
Transfers under military grants, net
Transportation
7
g
9
10
Travel
_
Fees and royalties from direct investments
Other private services
Other U.S. Government services
11
12
13
Income on U.S. investments
abroad:
Direct investments 2
._ __
Other private assets
U.S. Government assets
_
14
1
__
_
Imports of goods and services
19 64
II
III
IV
8,043
7,5%
8,841
8,163
8 414
8,220
8,866
8,622
5,054
187
447
488
5 597
195
678
533
5 664
5 937
245
161
250
56
253
161
253
59
798
236
121
743
251
118
I
II
III
IV
9,484
9,177
9 598
9,074
9 627
9,412
9,902
9,608
6 228
6 201
6 415
6 634
148
244
539
207
307
582
253
161
258
58
264
179
268
62
760
262
135
127
194
542
19 65
I
II
III
9 216
8,844
10,913
10,248
10,398
10,127
10,502
10, 182
5 674
6 936
6 860
6 977
188
665
621
229
271
598
206
320
646
IV
151
524
565
192
215
582
292
183
269
60
297
183
282
65
303
189
279
67
315
201
284
73
319
219
299
69
337
224
301
72
347
234
312
74
377
247
314
70
828
273
124
933
296
127
901
306
123
920
318
147
919
337
60
1,020
1,066
968
357
148
908
362
75
198
294
587
207
372
550
347
140
357
146
—6 409
—6 591
—6 791
—6 828
—6 910
—7 091
—7 225
—7,467
—7 246
—8,170
—8 236
—8,627
15
16
17
Merchandise, adjusted, excluding military l
Military expenditures
_ Transportation
_ _ _ _ _ _ __
-4, 050
—763
—566
-4, 214
—748
—562
-4, 365
—726
—589
—4, 382
—725
—600
-4,404
—747
—598
—4, 591
—737
—619
-4, 736
—699
—622
-4, 916
—697
-623
-4,680
—676
—642
-5, 482
—719
—688
-5,564
—763
-628
-5, 770
—794
-717
18
19
20
Travel
Private payments for other services
U.S. Government payments for other services ._
—503
—110
-107
—525
—112
—111
—545
— 112
—118
—541
— 111
— 111
—531
—122
— 151
—544
—125
— 117
—555
-125
-127
—581
-129
-141
—600
-116
-132
—603
-108
-140
— 610
-107
-134
—625
-108
-144
21
22
Income on foreign investments
in the United States:
Private payments 2
U.S. Government payments __
—219
—91
—224
—95
—232
— 104
—248
— 110
—246
— 111
—248
— 110
—252
-109
—257
-123
—278
-122
—312
— 118
—312
— 118
—338
-131
1,634
1,187
2 250
1,572
1 623
1,429
2 038
1,794
2 574
2,267
2 507
1,983
2,402
2,187
2,435
2,141
1,970
1,598
2,743
2,078
2 162
1,891
1,875
1,555
-1,083
—636
— 1,343
665
—903
—950
706
-962
—655
-1,208
709
684
-892
—677
-977
—683
-1,002
—630
-1,418
—753
-966
—695
-999
—679
— 138
—447
—429
—69
—130
—678
—469
—136
— 194
—510
—132
—244
—510
—135
—307
—453
—124
—524
—494
-131
-215
—474
—141
-294
—467
-139
-372
—417
-149
-320
-453
—63
—64
—67
—66
-74
—146
-271
—467
— 66
—147
-665
—471
-135
551
907
720
1 088
1,612
1,299
23
24
Balance on goods and services (lines 1 and 14)
Excluding transfers under military grants (lines 2 and 14)..
25
26
Unilateral transfers, net ; transfers to foreigners (—).._
Excluding military grants
27
28
29
30
Private remittances
Military grants of goods and services
___ _
Other U.S. Government grants 1
U.S. Government pensions and other transfers
31
Balance on goods, 3services, and unilateral transfers (lines 23 and
25, or 24 and 26)
32
Transactions in U.S. private assets, net; increase in assets (— ) _ . -1,095
33
34
35
36
Direct investments 2
Foreign securities newly issued in the United States
Redemptions
Other transactions in foreign securities
37
38
Claims reported by U.S. banks: *
Long-term
Short-term
39
40
Claims reported by U.S. residents other than banks: i
Long-term
Short-term _ _ _ _
41
_
44
45
Repayments on credits:
Scheduled
Nonscheduled (including sales of foreign obligations to
foreigners)
46
Transactions in U.S. official reserve assets, net; increase in
assets (—)
_
_ _.
1,458
968
1,325
1,196
876
-2,066
-1,660
-424
-932
-776
-1,616
-748
-999
-1,367
-1,474
—620
—486
43
—79
—492
—438
—334
—275
—530
—462
— 126
-664
-169
-588
-548
— 1,245
-301
-879
-280
-709
-238
— 72
38
40
38
35
63
24
55
82
52
77
-635
-387
52
15
—613
—220
42
46
74
21
27
58
—178
—461
— 116
—114
—72
—47
9
50
—75
—470
50
—51
50
87
54
94
—248
—453
-239
—102
-382
—411
-461
—558
—53
201
182
-41
75
69
121
1
23
158
39
— 27
—199
—57
—32
—271
-298
—130
-94
6
257
-6
229
-20
-12
-68
-46
660
76
455
—276
—391
—407
—602
—366
—536
-253
-443
1 —646
—838
—501
—663
—497
—568
—619
—710
—548
150
144
184
183
169
144
181
101
172
180
200
98
31
7
10
6
182
23
Gold<
_
SDR__
Convertible currencies
Gold tranche position in IMF *
___
_
_ __
_ _
Transactions in foreign assets in the United States, net; increase
in foreign assets (U.S. liabilities) (+)
26
34
241
25
52
32
123
227
-5
-51
303
70
-151
842
68
41
271
116
196
38
47
-73
-20
172
832
590
124
119
—33
-46
6
1
—28
59
—58
15
—228
-45
135
-205
-118
-58
68
-56
-413
131
258
118
-466
330
178
-26
1,653
279
210
388
451
827
159
-339
478
84
-5
14
3
47
114
33
40
52
12
-87
103
14
17
-42
36
29
14
52
-27
-30
14
-24
-26
135
85
57
152
-95
44
-242
-227
43
-51
22
55
59
-6
-30
4
65
-6
17
—5
-75
-5
5
19
-28
65
-5
24
8
-5
-5
68
10
39
16
47
69
5
72
116
—50
186
_1
141
—50
24
102
29
22
168
-2
-22
—1
222
— 10
29
-6
98
75
286
314
611
1,418
-160
-274
685
-138
1,129
1,366
55
56
Other liabilities reported by U.S. private residents other than
banks:
Long-term.-- _ _
_
Short-term
_.
_
_
57
58
Nonmarketable liabilities of U.S. Government, including
medium-term securities and long-term obligations lpayable
prior to maturity only under special conditions:
Associated with specific transactions
_
Other medium-term securities and long-term obligations
59
60
U.S. Treasury marketable or convertible bonds and notes l
Deposits and money market paper held in the United States ».. } 1,079 1,041
__
Balance on transactions in U.S. and foreign liquid and nonliquid
assets, including reserves (lines 32, 41, 46, and 51) .
Allocations of special drawing rights (SDR)3
Errors and omissions, net
p Preliminary.
* Less than $500,000 (±).
33
111
Direct investments 2
.
__
U.S. securities other than Treasury issues
Long-term liabilities reported by U.S. banks
62
63
-77
-1,670
52
53
54
61
-82
l
Loans and other long-term assets
Foreign currencies and other assets *
51
1,510
—75
—488
—264
Transactions in U.S. Government assets, excluding official
reserve assets, net* increase in assets ( — )
42
43
47
48
49
50
-72
(*)
-404
-787
-318
-1,249
-1,306
-1,111
-1,180
-1,166
-1,025
-1,231
-666
-864
-148
-120
-402
161
-307
-189
-331
-293
58
-94
-529
-11
1. Details for lines 3 and 15 are given in table 4; for lines 29, 42, 43, 57 and 58, in table 5;
for lines 37 through 40, in table 6; and for lines 59 and 60, in table 7.
2. Excludes undistributed profits of subsidiaries.
3. The sum of lines 31 and 62 is numerically equal to net foreign investment in U.S. national
income and product accounts.
SURVEY OF CUKKENT BUSINESS
June 1970
41
Seasonally Adjusted—Continued
of dollars]
1967
19 56
I
II
}
I
IV
III
III
II
IV
I
1970
Line
III
II
IV
IP
10,831
10,555
11,030
10,669
11,214
10,930
11,378
11,207
11,800
11,456
11,738
11,489
11,719
11,565
11,852
11,694
12,169
11,932
12,908
12,685
13,493
13,295
12,860
12,714
12,144
11,948
14,517
14,291
14,712
14,565
14,902
14,712
15,425
15,276
1
2
7,218
196
276
636
7,194
214
361
641
7,413
203
194
662
7,564
216
171
669
7,688
329
344
693
7,723
329
249
707
7,669
240
154
704
7,601
341
158
686
7,946
302
237
721
8,386
344
223
738
8,878
393
198
754
8,378
357
146
756
7,472
391
196
660
9,585
313
226
827
9,581
458
147
843
9,835
352
190
803
10,200
284
149
840
3
4
5
6
374
249
325
75
394
254
331
82
410
261
335
79
412
266
346
90
412
273
367
83
392
289
377
85
414
291
378
83
428
284
382
84
433
286
387
92
431
313
396
87
451
320
412
87
460
327
414
87
501
327
421
87
520
364
434
98
519
337
446
95
518
342
453
95
559
353
460
91
7
8
9
10
958
377
147
1,015
398
146
1,009
412
146
1,063
426
155
1,031
424
156
1,006
421
160
1,201
433
152
1,279
439
170
1,097
462
206
1,307
477
206
1,278
512
210
1,292
499
144
1,342
519
228
1,370
549
231
1,455
588
243
1,472
611
231
1,603
634
252
11
12
13
-8,998
-9,264
-9,831
-9,967
-10,093
-10,027
-10,168
-10,703
-11,477
-11,832
-12,444
-12,374
-11,618
-13,978
-13,909
-14,061
-14,391
14
-6,465
-1,075
-751
-6,542
-1,106
-711
-6, 027
-877
-701
}
II
I
IV
III
19 69
1968
-6, 165
-925
-720
-6, 595
-975
-746
-6, 676
-987
-755
-6, 660
-1,085
-766
-7, 154
-1,112
-765
-7, 820
-1, 103
-795
-8, 132
-1,112
-790
-8, 569
-1, 147
-844
-8,443
-1, 173
-840
-7, 576
-1, 198
-775
-9,606
-1, 187
-907
-9, 263
-1,220
-960
-9, 390
-1, 245
-967
-9, 685
-1, 205
-938
15
16
17
-644
-112
-158
-676
-116
-159
-666
-119
-161
-671
-123
-164
-701
-131
-166
-841
-136
-168
-914
-141
-174
-739
-146
-180
-755
-159
-168
-737
-162
-167
-787
-161
-175
-743
-165
-248
-820
-175
-169
-855
-178
-174
-875
-173
-178
-840
-183
-189
-348
-131
-367
-136
-425
-144
-453
-138
-447
-137
-441
-150
-435
-145
-441
-166
-502
-175
-550
-182
-596
-165
-582
-180
-719
-186
-881
-190
-1,042
-198
-1,044
-203
-1, 119
-210
21
22
1,833
1,557
1,766
1,405
1,293
1,099
1,411
1,240
1,707
1,363
1,711
1,462
1,551
1,397
1,149
991
692
455
1,076
853
1,049
851
486
340
526
330
539
313
803
656
841
651
1,034
885
23
24
-1,079
-803
-1,054
-693
-870
-676
-806
-635
-1,031
-687
-1,068
-819
-975
-821
-801
-643
-866
-629
-898
-675
-955
-757
-914
-768
-808
-612
-1,038
-812
-837
-690
-911
-721
-856
-707
25
26
-131
-276
-591
-81
-133
-361
-480
-80
-132
-194
-423
-121
-134
-171
-416
-85
-139
-344
-456
-92
-263
-249
-460
-96
-174
-154
-491
-156
-151
-158
-396
-96
-175
-237
-362
-92
-166
-223
-418
-91
-200
-198
-435
-122
-174
-146
-492
-102
-171
-196
-342
-99
-192
-226
-518
-102
-214
-147
-372
-104
-207
-190
-412
-102
-229
-149
-377
-101
27
28
29
30
31
-873
-185
-176
18
19
20
754
712
423
605
676
643
576
348
-174
178
94
-428
-282
-499
-34
-70
178
-1,056
-1,090
-949
-1,238
-1,053
-1,008
-1,738
-1,838
-684
-1,429
-1,585
-1,714
-1,213
-2,151
-980
-1,030
-1,557
32
-728
-457
118
21
-934
-281
123
73
-917
-312
75
149
-1,082
-160
89
80
-707
-338
100
20
-518
-393
130
-10
-947
-535
137
-78
-964
-353
102
-48
-451
-424
131
-11
-878
-363
244
-52
-1,048
-382
91
-36
-831
-534
80
1
-902
-546
130
97
-1,015
-269
85
-355
-877
-571
80
-76
-276
-281
183
29
-1,304
-402
127
116
33
34
35
36
127
39
1
-32
102
57
107
-148
153
-139
179
-345
-77
-248
(*)
2
140
84
49
190
165
-237
4
-142
133
-65
31
-533
131
98
35
-371
26
130
37
38
-17
-159
-51
11
-28
-75
-16
-108
-68
-74
-164
113
36
-26
-85
-492
34
-187
-32
-587
-57
-81
-165
-127
-82
22
-80
-15
-13
248
-249
-100
-338
88
39
40
-318
-504
-334
-379
-651
-540
-537
-691
-723
-642
-528
-375
-435
-641
-650
-458
-460
-524
-706
-773
-764
203
195
213
193
3
7
226
192
-865
214
(*)
-828
-761
288
218
6
(*)
-969
-1,060
-955
-863
-773
-776
-1,001
278
295
310
280
229
297
326
42
3
55
169
44
34
904
-137
-571
-1,076
-48
-299
-686
-317
-11
(*)
-841
41
( 42
i
43
-771
-882
345
324
334
44
5-154
5 -11
88
45
-154
264
46
-695
47
48
49
50
424
68
82
-6
1,027
-419
-375
-181
68
209
173
121
51
15
92
1,012
1,362
22
-74
-137
56
222
134
-163
22
-426
335
-173
46
1,007
-31
-424
-10
-462
-5
-1,145
-48
-401
-57
267
-426
-474
-23
-575
-364
-73
-31
246
-228
-442
-233
1,083
-542
-44
-270
831
-253
446
1,063
682
1,132
321
2,006
2,137
2,389
1,008
2,562
2,253
3,586
3,174
4,513
3,276
1,593
1,693
51
52
173
60
38
520
439
-113
107
100
110
109
382
64
133
371
70
329
616
12
520
-141
112
34
206
251
839
56
5
1,122
175
23
1,115
119
41
1,312
256
246
1,388
-49
164
365
-174
152
396
-265
270
963
-188
463
297
-164
52
53
54
29
39
12
66
61
134
78
57
125
94
-24
90
-19
183
3
132
254
53
165
268
20
227
276
211
256
-83
59
65
145
113
182
45
154
-9
55
56
-18
-53
41
-26
111
-23
-4
53
84
(*)
146
(*)
-99
335
-150
135
-58
273
24
772
-86
409
22
556
-79
95
105
-171
-115
-115
228
150
-90
-242
57
58
164
-27
305
347
-550
779
1,346
1,917
-660
31
426
912
1,400
4,100
2,965
-57
( 59
1,284 { 60
-504
-463
-519
-491
-356
39
-513
-321
505
354
-431
421
1,478
1,422
960
-49
-250
-248
97
-113
-318
-682
-63
-25
-329
-528
335
8
-922
-927
121
-60
217
-337
Digitized4.forEeflects
FRASER
$259 million payment of gold portion of increased U.S. subscription to
in the second quarter of 1965.
http://fraser.stlouisfed.org/
5. Negative entry reflects repurchase of foreign obligations previously sold.
Federal Reserve Bank of St. Louis
the IMF
-1,1%
Source: U.S. Department of Commerce, Office of Business Economics.
61
62
63
SUKVEY OF CURRENT BUSINESS
42
June 1970
Table 3.—U.S. Balance of
[Millions of
1946
Line
1947
1948
1949
1950
1951
1952
1953
1954
1955
1956
1957
1958
1959
1 Balance on liquidity basis excluding allocations of SDR—
measured by increase in U.S. official reserve assets excluding SDR allocations and decrease in liquid liabilities to all
foreigners; seasonally adjusted; decrease in net assets (— )
Balance on liquidity basis including allocations of SDR—measured by increase in all U.S. official reserve assets and
decrease in liquid liabilities to all foreigners.
2
Seasonally adjusted; decrease in net assets (— ) _ .
3
Less seasonal adjustment 2 . .
4
Before seasonal adjustment (lines 5 and 10, with sign
reversed) .
5
U.S . official reserve assets (table 1 line 46) ; increase (— ) . . -623 -3, 315 -1,736
6
7
8
9
10
11
12
13
14
15
Golds
SDR
Convertible currencies _ ...
IMF gold tranche position 3
993
-623
...
4,210
136 -3,489
-8 -1,206 -2,184 -1,541 -1,242
-973
578 -3,365 -3,870
-266
1,758
-33
-415
1,256
480
182
-869
-1,165
2,292
1,035
-2, 162 -1,530
-164
1,743
-53
-379
1,161
298
41
-306
-798
2,275
1,075
-206
-102
15
20
-36
95
182
141
-563
-367
17
-40
-370
-895
919
130
1,731
41
1,621
928
1,061
1,060
1,842
587
1,073
2,835
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
498
n.a.
n.a.
n.a.
32
n.a.
n.a.
n.a.
-59
n.a.
n.a.
n.a.
1
n.a.
n.a.
n.a.
410
n.a.
n.a.
n.a.
428
n.a.
n.a.
n.a.
60
n.a.
n.a.
n.a.
48
n.a.
n.a.
n.a.
1,158
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
-623 -3,315 -1,736
-266
1,758
-33
-415
1,256
480
182
-869
-1,615
2,292
1,035
-1, 153
Liquid liabilities to all foreigners (table 1, lines 59 and
60); decrease (-).
To official agencies
To commercial banks 4
_. .
To other foreign residents and unallocated 5 _ .
To international and regional organizations
817
Balance on official reserve transactions basis excluding allocations of SDR— measured by increase in U.S. official
reserve assets excluding SDR allocations and decrease in
liquid and certain nonliquid liabilities to foreign official
agencies; seasonally adjusted; decrease in net assets (— )
Balance on official reserve transactions basis including allocations of SDR—measured by increase in all U.S. official
reserve assets and decrease in liquid and certain nonliquid
liabilities to foreign official agencies.
16
Seasonally adjusted; decrease in net assets (— )
17
Less seasonal adjustment
18
Before seasonal adjustment (lines 19 through 21, with
sign reversed) .
2
19
U.S. official reserve assets (line 5) ; increase (— )
20
Liquid liabilities
to foreign official agencies (portion
of line 11) 6 decrease (-) .
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
21
Certain nonliquid liabilities to foreign
agencies; decrease (— ) .
official
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
22
Liabilities reported by U.S. private residents
(table 1, portion of line 54.)
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
23
Liabilities reported by U.S. Government (table
1, portions of lines 57 and 58).
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
See footnotes at end of table.
SUEVEY OF CURRENT BUSINESS
June 1970
43
Payments and Reserve Position
dollars!
1960
1960
1961
1962
1963
1964
1965
1966
1967
1968
-3,901 -2,371
2,145
606
1,533
377
171
1,222
568
52
1, 703
857
890
461
125
1,665
571
1,170
442
-116
-135
17
626
-113
29
-220
266
-349
-94
1,756
1,765
671
2,293
2,629
1,448
140
-167
335
681
586
91
407
457
-138
140
212
1,673
470
385
-235
1,075
1,454
343
-243
113
789
III
I
-850 -1,010
-838
-850 -1,010 -1,203 -529
-12
-1,203 -529
III
IV
I
II
III
64
-715
-1,191
-807
-318
-437
64
-715 — 1 191 —807
—318
2
II
-34 -195
-10
— 838 -1,189 -1,169 -334
74
179
9
-331
-911 -1,200
-476
-320
196
IV
—642
1
—437
—642
2
256
73
3
-693
-715
4
-705
-880 -1, 187
159
175
740
1,071
371
-320
-213
768
427
-164
881
389
5
50
94
638
921
371
-170
146
510
304
116
446
24
6
7
-25
—54
g
150
25
-483
312
—324
44
351
162
—114
237
104
81
-161
11
124
109
331
14
9
98
1,173
-967
709
8,408
546
663
449
2,020 -3, 101
1,272
3,387
414
375
-214
48
-525
9,434
-441
-60
102
449
-86
81
402
170
17
74
405
16
-61
89
3,492
IV
171 -7,221
814
—540 -1, 024 -1,183
-870 -1, 034
537
-94
-18 -1,595
116
2,697
306
212
-291
-525
II
-838
-133
-3,544
1962
Line
I
-2,204 -2,670 -2,800 -1,335 -1,357
1961
1969
-37
246
1,124
432
49
484
-188
326
10
44
539
-495 -21
-37 -114
54
91
-317
459
76
28
899
85
59
81
55
63
70
244
-652
447
39
215
462
-250
276
-4
269
-212
-138
-107
378
-123
-37
108
11
12
13
14
-327
-634 -1,007 -1,435 -803
670
—548
—666
—419
—324 — 1 049
—910
15
-327
—634 -1,007 — 1 435 —803
—324 — 1 049
—910
16
225
17
18
'
-3,403 -1,347 -2,702 -2,011 -1,564
-1,289
266 -3,418
2,145
606
1,533
377
171
1,258
741
919
1,673
1,075
250
-39
318
85
761
9
149
-38
-48
169
123
250
1,222
568
52
1,641
2,708
-880 -1, 187
2,020 -3, 101
-525
1 346
2 340
—996
793
894
534
-834
-32
452
1,806
-162
-18 -1, 595
670
—548
—666
—419
116 -380
55
166
159
—529
-1,156 -1,551 -423
615
-714
-825
110
-412 -1,265 -1,135
371
-320
-213
768
427
-164
881
389
19
52
-295
927
57
-537
577
384
495
20
251
21
-308
43
-19
-677
159
175
740
1,071
-140
502
416
480
149
88
—1
216
22
—1
251
23
SUKVEY OF CURRENT BUSINESS
44
June 1970
Table 3.—U.S. Balance of Payments
[Millions
19 33
Line
I
II
1 Balance on liquidity basis excluding allocations of SDR—measured by increase in U.S. official reserve assets excluding
SDR allocations and decrease in liquid liabilities to all
foreigners; seasonally adjusted; decrease in net assets (— )._ -1,219
19 64
III
IV
I
1965
II
III
-307
-570
IV
I
-638
-1,285
-782
-638
II
III
IV
256
-603
-206
-1,164
-222
-65
-1,219
-1,164
-222
-65
-307
-570
-1,285
—782
256
—603
—206
-514
25
376
113
-531
62
383
86
—600
68
403
129
-705
-1,189
-598
— 1,371
—182
188
— 1 006
—335
32
123
227
842
68
41
271
111
116
196
-33
-46
6
1
Liquid liabilities to all foreigners (table 1, lines 59 and 60);
decrease ( — )
To official agencies 4
- To commercial banks
-To other foreign residents and unallocated 5
To international and regional organizations
673
276
386
76
-65
1,066
925
80
110
-49
Balance on official reserve transactions basis excluding allocations of SDR— measured by increase in U.S. official reserve
assets excluding SDR allocations and decrease in liquid and
certain nonliquid liabilities to foreign official agencies; seasonally adjusted; decrease in net assets ( — )
-1,100
-900
-1,100
-900
-729
142
316
-371
-1,042
-453
32
123
227
Balance on liquidity basis including allocations of SDR—
measured by increase in all U.S. official reserve assets and
decrease in liquid liabilities to all foreigners :
2
Seasonally adjusted; decrease in net assets ( — )
3
Less seasonal adjustment
4
Before seasonal adjustment (lines 5 and 10, with sign
reversed)
5
U.S. official reserve assets (table 1, line 46); increase (— )
6
7
g
9
10
11
12
13
14
15
2
Gold 3
SDR
Convertible currencies
IMF gold tranche position 3
--
--
224
-632
— 1,021
-51
303
70
38
46
-73
-20
172
832
590
124
119
—28
59
—58
15
—228
131
258
118
—45
135
—205
—118
—58
68
—56
—466
—413
330
178
—26
371
321
-23
86
-13
183
151
27
113
-108
-173
-399
256
56
-86
329
214
93
46
-24
951
389
588
115
-141
1,522
871
517
126
8
-660
-861
163
104
-66
—256
-107
-205
82
—26
965
253
697
72
—57
64
697
—539
48
—142
-137
126
-279
-341
-380
-564
-783
320
21
—847
-137
126
-279
-341
-380
-564
-783
320
21
-847
271
-758
212
296
250
-823
251
298
274
-145
479
-553
-5
-51
-178
-151
Balance on official reserve transactions basis including allocations of SDR— measured by increase in all U.S. official reserve
assets and decrease in liquid and certain nonliquid liabilities
to foreign official agencies :
16
Seasonally adjusted; decrease in net assets ( — )
17
Less seasonal adjustment
18
Before seasonal adjustment (lines 19 through 21, with sign
reversed)
--
2
19
U S official reserve assets (line 5); increase ( — )
20
Liquid liabilities to foreign official agencies (portion of
line 11")* decrease ( — )
276
925
321
151
21
Certain nonliquid liabilities to foreign official agencies;
decrease ( — )
63
-6
-95
-1
22
Liabilities reported by U.S. private residents (table
1 portion of line 54)
23
Liabilities reported by U.S. Government (table 1,
portions of lines 57 and 58)
9
63
-15
p Preliminary.
n.a. Not available.
1. Position figures reflect increases of $67 million in convertible currencies (line 8), $17
million in nonmarketable, convertible U.S. Treasury obligations (line 11), and $84 million
in nonliquid liabilities of U.S. Government (line 23), resulting from revaluation of German
-95
-1
-676
-814
40
69
-277
-1,121
303
70
-151
842
68
41
271
-399
214
389
871
-107
253
697
-29
36
217
94
-21
-30
-17
153
26
44
15
64
-21
-29
-16
28
-55
g
202
30
-1
-1
125
-861
mark in October 1969. (In addition, nonmarketable U.S. Treasury notes amounting to $125
million equivalent issued to a group of German commercial banks in June 1968 increased
$10 million in dollar value as a result of the German revaluation.)
2. Of the total seasonal adjustments, $—651 million is attributable to allocations of SDR
SUEVEY OF CURRENT BUSINESS
June 1970
45
and Reserve Position—Continued
of dollars]
I
I
III
II
IV
III
-477
-360
-971
-1,736
-244
106
145
-341
-477
-360
-971
-1,736
-244
106
125
-239
-149
245
143
23
1
-466
-238
-211
-1,216
-1,879
-267
105
III
IV
—588
—41
—387
-341
—588
—41
-387
—541
108
308
—47
—149
-695
68
IV
19 59
II
II
424
1968
19 67
19 66
I
-6
82
1,027
-419
-375
-181
904
-137
I
II
1970
III
164
-1,352
-3,801
-2,279
145
164
-1,352
-3,801
567
-591
-84
15
-422
755
-1,268
-3,816
-571
-1,076
-48
IP
IV
Amounts
outstanding Line
Mar. 31,
19701
211
-1,765
1
-2,279
211
-1,548
2
693
-624
-740
3
-2,972
835
-808
4
-299
-686
-154
-386
117,350
5
68
209
173
121
51
15
92
1,012
1,362
22
-74
-137
56
-317
»-ll
-695
222
134
-163
22
-426
335
-173
46
1,007
-31
-424
-10
-462
-1,145
-48
-401
-57
267
-426
-474
-23
-575
-364
-73
.-31
246
-228
-442
-233
1,083
-542
-44
-920
831
-253
11,903
920
U,950
2,577
6
7
8
9
-377
-852
404
109
-38
81
54
316
66
-355
613
-598
1,144
91
-24
472
-199
.833
-54
-108
-789
-80
-753
80
-36
630
540
156
12
-78
1,591
260
1,291
95
-55
2,060
1,300
578
227
-45
-637
-1,358
638
4
79
32
-2, 190
2,205
103
-86
993
-38
968
44
19
321
485
-424
224
36
1,316
-1, 708
3,134
-22
-88
4, 115
-538
4,716
-145
82
3,658
2,235
1,554
-143
12
-681
-514
30
-131
-66
1,194
2,744
-1,537
-167
154
43, 233
i 15, 747
22, 369
4,301
816
10
11
12
13
14
—335
-12S
528
199
-1,696
—747
1
—976
—61
1,652
408
-358
1,453
1,315
-582
522
-3,070
—335
-126
528
199
—1,696
—747
1
—976
—61
1,652
408
-358
1,453
1,315
—582
522
-2,853
16
-729
243
102
384
-417
-37
21
433
-152
102
336
-286
-258
111
458
-311
-912
17
394
—369
426
—185
—1,279
—710
-20
—1,409
91
1,550
72
—72
1,711
1,204
—1,040
833
—1,341
424
68
82
-6
1,027
-419
-375
-181
904
-137
-571
-1,076
-48
-299
-686
-154
-386
1 17, 350
19
-852
54
-598
-199
-80
540
260
1,300
-1,358
-2, 190
-38
485
-1, 708
-538
2,235
-514
2,744
i 15, 747
20
34
247
90
390
332
589
135
290
363
777
537
663
45
-367
-509
-165
-417
i 3, 734
21
48
282
88
375
304
596
-196
190
116
150
131
137
-43
-195
-390
-206
-159
1,348
22
-14
-35
2
15
28
y
331
100
247
627
406
526
88
-172
-119
41
-258
i 2, 386
23
in the first quarter of 1970 and $217 million in each of the following three quarters of 1970.
3. Reflects $259 million payment of gold portion of increased U.S. subscription to the IMF
in the second quarter of 1965.
4. Includes deposits of foreign branches of U.S. banks and of foreign commercial banks,
15
18
associated with their U.S.-dollar denominated liabilities to foreign official agencies.
5. May include U.S. Government bonds and notes by foreign commercial banks.
6. Excludes changes in Treasury liabilities to certain foreign military agencies during
1960-62, which are included in line 11.
SUKVEY OF CUEEENT BUSINESS
46
June 1970
Table 4.—U.S. Merchandise
(Millions
Line
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
20,600
21,037
21,714
23,387
26,650
27,530
30,430
31,622
34,636
37,988
29 490
EXPORTS
1
Merchandise exports, Census basis,1 including reexports and military
grant shipments.
Excluding military grant shipments
19,651
20,227
20,987
22,467
25,832
26 751
3
3a
3b
3c
3d
3o
Additions "regular", to Census exports
Private gift parcel remittances
Exports of the Virgin IslandsGold exports nonmonetary
Inland freight valuation adjustment
Other "regular" additions 2
267
66
248
59
258
51
269
44
243
45
256
45
2
164
35
1
166
22
1
174
32
(*)
183
42
(*)
184
14
4
4a
4b
Deductions, "regular", from Census
exports
DOD military export sales 34
Other "regular" deductions
268
232
36
371
331
40
522
476
46
494
450
44
5
5a
Special and miscellaneous adjustments (net) 5 _
Of which:
quarterly allocation of annual seasonal adjustment discrepancy.6
(*)
3
56
6
Equals: Merchandise exports, adjusted to balance of payments basis (table
1, line 3).
IMPORTS
19,650
20,107
Merchandise imports, Census basis 1 (general imports)
15,072
85
13
56
16
482
477
9
8
8a
8b
8c
Additions "regular", to Census imports
Imports of the Virgin Islands
Gold imports, nonmonetary
Other "regular" additions"
9
Deductions, "regular", from Census imports ...
DOD military import purchases
Automotive valuation adjustment
Other "regular" deductions 8
.
_.. . ...
.. .._
. ..
. . - . ..
31 030
34 063
37 314
205
4
265
44
3
1
215
2
319
76
18
4
216
5
340
75
31
8
228
—2
368
71
26
2
257
12
457
420
37
644
621
23
403
379
24
668
639
29
815
784
31
1 203
1 172
10
— 140
84
37
20,779
22,252
25,478
26,447
29,389
30,681
33,588
36,473
14,759
16 453
17,205
18,749
21 428
25 618
26 889
33 226
36 052
89
12
67
10
108
21
80
7
108
22
79
7
137
27
100
10
182
44
130
8
206
43
155
8
252
68
176
8
327
108
211
8
392
168
216
8
394
388
385
376
340
332
248
241
296
217
75
4
369
201
162
6
554
249
300
5
586
237
346
3
9
31
—6
5
6
9
8
7
206
186
17
3
10
lOa
Special and miscellaneous adjustments (net) 5 _
Of which*
quarterly allocation of annual seasonal adjustment discrepancy.6
69
65
42
38
9
92
—65
49
-35
-23
11
Equals: Merchandise imports, adjusted to balance of payments basis
(table 1, line 15).
14,744
14,519
16,218
17,011
18,647
21,496
25,463
26,821
32,964
35,835
12
Balance on merchandise trade, Census basis,1 excluding military grant
shipments (line 2 less line 7) .
4,580
5,467
4,533
5,262
7,082
5,323
3,872
4,141
837
1,262
13
Balance on merchandise trade, adjusted to balance of payments basis
(line 6 less line 11).
4,906
5,588
4,561
5,241
6,831
4,951
3,926
3,860
624
638
14
Merchandise exports, Census basis,1 including military grant shipments
(line 1).
Agricultural products
Nonagricultural products
...
Excluding military grant shipments
20,600
21,037
21,714
23,387
26,650
27,530
30,430
31,622
34,636
37,988
4,860
15, 740
14 791
5 073
15 964
15 154
5,078
16, 636
15 909
5,640
17, 747
16, 827
6,412
20, 238
19 420
6,300
21, 230
20, 451
6 955
23, 475
22, 535
6,448
25, 174
24, 582
6,301
28, 335
27, 762
6,004
31, 984
31,310
3 170
1 821
336
1 013
3 418
2 063
343
1 012
3 829
2 288
407
1 133
4 282
2,570
471
1 240
4 849
2 876
567
1 406
4 928
2 901
5 489
3 504
1 377
1 225
4,998
2,997
772
1, 230
4 813
2,822
810
1 182
4,688
2,516
822
1,349
7 924
841
7 705
794
7 132
826
7 822
975
9 185
946
8 917
9 613
9,971
1,106
11 004
1,052
11, 758
1,132
419
1, 540
988
379
1 406
1,388
453
1, 429
884
391
1 437
1,375
457
1,099
537
373
1 517
1,358
506
1, 150
587
403
1 639
1,478
597
1 343
690
413
1 990
1,716
828
1 949
1,867
906
923
286
540
2 741
2,387
305
717
929
427
541
858
220
561
721
255
629
786
333
781
1,065
283
271
699
702
741
1,065
1,215
1,201
1,532
5,511
4 284
730
3 555
947
469
1,474
?05
223
236
1,052
537
175
5,910
4 729
818
3 912
937
520
1 664
?03
328
260
973
339
209
6,443
5 221
953
4 268
979
549
1, 890
217
344
288
1,043
323
179
6,604
5 521
1 079
4 442
1,042
539
1 880
265
385
331
919
248
163
7,463
6 399
1 179
5 220
1,255
629
2 148
348
467
375
912
287
152
8,041
6 796
1 145
5 651
1,308
634
2 373
8,892
7 527
1 279
6 248
1,335
677
2,693
446
660
437
1 224
553
141
9, 913
8 115
1 426
6 689
1,396
673
2,886
11, 072
8 642
1, 557
7,085
1,526
709
3,062
9a
9b
9c
TRADE BY END-USE
I4a
14b
I4c
15
16
17
18
Foods feeds and beverages
Grains and preparations. Soybeans
Other foods feeds and beverages
19
Industrial supplies and materials 1
Fuels and lubricants
_ . ._
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
40a
41
--
- -
Paper and paper base stocks
Textile supplies and materials
... _ - .
Raw cotton including linters
Tobacco unmanufactured
Chemicals excluding medicinals
Other nonmetals (hides, tallow, minerals, wood, rubber, tires, etc.)- —
Steelmaking materials
Iron and steel products
Other metals, primary and advanced, including advanced steel 1
Capital goods, except automotive. _
Machinery except consumer-type
Electrical and electronic and parts and attachments
Nonelectrical and parts and attachments
Construction machinery and non-farm tractors and parts...
Textile and other speciahzed-industry machinery and parts
Other industrial machinery and parts, n.e.s
Agricultural machinery and farm tractors and parts
Business and office machines, computers, etc., and parts
Scientific professional and service-industry equipment
Civilian aircraft, engines parts
Civilian aircraft complete — all types
Other transportation equipment
See footnotes at end of table.
.-
.-
650
948
594
1,070
495
383
759
434
542
359
1 077 >
478
168
760
977
666
1,034
440
482
2 200
2,070
722
1,032
470
498
2 313
2,073
324
448
842
445
1,614
790
184
1,022
466
524
2 764
2,267
275
412
900
476
2,327
1 405
103
371
1,127
1,632
12, 322
9, 993
1,856
8,137
1,680
795
3,476
418
1,226
541
2,209
1,241
120
SUEVEY OF CUEEENT BUSINESS
June 1970
47
Trade
of dollars)
Not seasonally adjusted
1968
I
II
Seasonally adjusted
1969
III
IV
I
II
1968
1970
III
IV
IP
I
1969
II
III
IV
I
II
Line
1970
III
IV
IP
i
1
8,169
8,817
8,581
9,069
7,701
10,332
9,445
10,510
10,354
8,175
8,577
9,175
8,739
7,719
10,041
10,050
10,138
10,460
8,022
8,705
8,425
8,911
7,561
10,151
9,262
10,340
10,207
8,028
8,465
9,019
8,581
7,579
9,860
9,867
9,968
10,313
90
17
8
3
53
9
81
17
4
3
59
-2
87
16
11
1
55
4
82
25
8
1
61
-13
99
12
8
1
60
18
83
17
4
1
67
-6
90
16
5
(*)
62
7
96
26
9
(*)
68
-7
91
16
2
(*)
63
10
95
17
8
3
58
9
75
17
4
3
53
2
89
16
11
1
57
4
81
25
8
1
60
-13
105
12
8
1
66
18
77
17
4
1
61
-6
91
16
5
(*)
63
7
95
26
9
(*)
67
-7
97
16
2
(*)
69
10
3
3a
3b
3c
3d
3e
170
162
8
164
157
204
196
8
277
269
8
262
254
8
377
370
7
326
318
8
238
230
8
210
203
7
170
162
8
164
157
7
204
196
8
277
269
8
262
254
8
377
370
7
326
318
8
238
230
8
210
203
7
4
4a
4b
18
— 18
40
15
—61
_7
—7
10
—8
—26
—8
—7
50
10
25
10
— 51
10
10
10
7,942
8,640
8,290
8,716
7,438
9,872
8,965
10,198
10,088
7,946
8,386
8,878
8,378
7,472
9,585
9,581
9,835
10,200
6
7,764
8,256
8,457
8,749
7,409
9,781
9,195
9,667
9,456
7,867
8,151
8,548
8,526
7,643
9,635
9,301
9,443
9,719
7
97
29
66
2
89
27
60
2
70
31
37
2
71
21
48
2
107
57
48
2
111
49
60
2
80
29
49
2
94
33
59
2
98
60
36
2
97
29
66
2
89
27
60
2
70
31
37
2
71
21
48
2
107
57
48
2
111
49
60
2
80
29
49
2
94
33
59
2
98
60
36
2
8
8a
8b
8c
129
62
66
1
144
64
78
2
115
60
54
1
166
63
102
1
151
71
79
1
153
64
89
(*)
115
47
67
1
167
55
111
1
134
47
86
1
127
62
64
1
141
64
75
2
132
60
71
1
152
63
88
1
149
71
77
1
148
64
84
(*)
135
47
87
1
154
55
98
1
132
47
84
1
9
9a
9b
9c
50
—35
32
—17
33
33
33
83
33
2
33
—25
7
8
8
17
8
7
7
-50
9
*7
2
5
5a
10
lOa
7,682
8,201
8,462
8,619
7,333
9,739
9,169
9,594
9,420
7,820
8,132
8,569
8,443
7,576
9,606
9,263
9,390
9,685
11
258
449
-32
162
152
370
67
673
751
161
314
471
55
-64
225
566
525
594
12
260
439
-172
97
105
133
-204
604
668
126
254
309
-65
-104
-21
318
445
515
13
8,169
8,817
8,581
9,069
7,701
10,332
9,445
10,510
10,354
8,175
8,577
9,175
8,739
7,719
10,041
10,050
10,138
10,460
14
1,656
6,513
6,366
1,504
7,313
7,201
1,440
7,141
6,985
1,701
7,368
7,210
947
6,754
6,614
1,718
8,614
8,433
1,426
8,019
7,836
1,913
8,597
8,427
1,650
8,704
8,557
1,659
6,516
6,369
1,542
7,035
6,923
1,605
7,570
7,414
1,495
7,244
7,086
958
6,761
6,621
1,763
8,278
8,097
1,581
8,469
8,286
1,687
8,451
8,281
1,674
8,786
8,639
14a
14b
14c
1,270
831
183
256
1,140
671
171
298
1,071
632
134
305
1,332
687
323
322
769
377
134
258
1,299
741
194
363
1,114
663
118
333
1,506
735
376
396
1,306
688
262
356
1,288
819
198
271
1,150
679
178
293
1,191
667
217
307
1,185
660
217
308
783
366
143
274
1,309
751
202
356
1,230
700
193
337
1,337
705
253
379
1,338
676
283
379
15
16
17
18
2,480
224
2,801
269
2,968
299
2,755
260
2,122
212
3,253
312
3,102
296
3,281
313
3,336
308
2,529
257
2,780
266
3,006
270
2,697
258
2, 172
242
3,220
309
3,124
266
3,215
312
3,435
355
20
182
295
165
101
612
535
209
274
126
109
709
575
229
244
100
154
774
591
209
209
75
161
669
563
166
152
29
50
525
490
247
310
130
142
777
645
237
228
71
134
734
611
256
232
55
214
706
640
254
291
116
84
779
644
182
267
138
135
624
524
206
285
140
138
693
561
232
281
125
143
761
621
207
193
67
115
681
559
167
145
23
67
539
481
243
322
145
179
756
627
239
256
87
124
717
639
254
217
50
155
720
638
256
273
98
113
803
635
21
22
23
24
25
26
56
157
318
65
174
417
76
189
412
78
220
386
42
185
300
95
275
450
130
292
440
104
374
442
100
370
507
73
158
309
58
173
400
66
202
430
81
207
396
54
186
291
85
273
426
112
311
460
109
352
458
130
374
496
27
28
29
2,649
2,037
366
1,671
326
163
734
115
217
116
587
352
25
2, 909
2,263
405
1,858
397
188
822
116
209
126
613
372
33
2,733
2,156
386
1,770
409
174
754
92
226
115
557
334
20
2,781
2,186
400
1,786
393
184
752
90
248
119
570
346
25
2,776
2,111
401
1,710
321
162
739
98
265
125
638
427
27
3,263
2,709
497
2,212
469
215
961
133
287
147
519
279
35
3,001
2,511
474
2,037
434
199
870
95
308
131
465
213
25
3,282
2,661
485
2,176
456
219
906
91
366
138
587
322
34
3,508
2,732
503
2,229
465
210
922
102
378
152
748
479
27
2,595
2,020
363
1,657
328
172
731
105
207
114
546
352
29
2,766
2,157
390
1,767
379
178
783
96
211
120
580
372
29
2,956
2,319
416
1, 903
423
186
808
108
253
125
614
334
23
2,776
2,162
391
1,771
397
174
741
108
232
119
591
346
23
2,731
2,103
399
1,704
325
171
740
90
254
124
597
427
31
3,096
2,574
477
2,097
447
202
912
110
289
137
491
279
31
3,229
2,689
508
2,181
446
211
929
110
343
142
512
213
28
3,274
2,633
477
2,156
463
208
896
109
342
138
609
322
32
3,470
2,736
503
2,233
473
223
928
94
364
151
703
479
31
30
31
32
19
33
34
35
36
37
38
39
40
40a
41
SUKVEY OF CUERENT BUSINESS
48
June 1970
Table 4.—U.S. Merchandise
(Millions
1961
1960
Line
1962
1964
1963
1966
1965
1967
1968
1969
42
43
44
45
46
47
Automotive vehicles and parts (including engines and parts) _
To Canada
To all other areas _
. ... . _ . ___
Passenger cars new and used
Trucks buses and special vehicles
Parts and accessories, including engines and parts
1,266
400
866
243
391
632
1,188
371
817
236
321
632
1,301
469
832
272
265
764
1,468
529
939
295
310
864
1,729
637
1,092
357
358
1,015
1,929
867
1,062
403
335
1,191
2,354
1,270
1,084
576
367
1,412
2,784
1,755
1,029
824
413
1,548
3,453
2,378
1,074
982
432
2,038
3,888
2,736
1,152
1,023
531
2,333
48
49
50
51
Consumer goods (nonfood), except automotive
. ... .
.
Consumer durables, manufactured
Consumer nondurables, manufactured
Unmanufactured consumer goods (gem stones, precious and nonprecious) .
1,396
562
826
8
1,441
579
847
15
1,455
570
866
19
1,558
603
914
41
1,751
706
998
47
1,799
698
1,054
47
2,035
809
1,162
63
2,111
825
1,222
65
2,334
890
1,344
99
2,596
1,017
1,451
128
52
Special category domestic (military-type goods)
840
826
971
1,025
951
1,237
1,249
1,103
1,110
1,650
53
54
55
Exports n e e , and reexports
Domestic (low-value, miscellaneous)
Foreign (reexports)
_
493
293
200
549
305
245
583
314
269
629
344
285
723
370
352
680
337
343
798
363
436
743
359
384
851
414
437
1,086
542
544
15,072
14,759
16,453
17,205
18,749
921,520
25,618
26,889
33,226
36,052
3,286
1,657
1,002
512
1,629
3,331
1,581
961
460
1,750
3,573
1,621
986
503
1,952
3,753
1,701
955
611
2,053
3,915
1,786
1,197
458
2,129
3,946
1,625
1,062
443
2,321
4,499
1,691
1,067
501
2,808
4,586
1,698
963
588
2,888
5,271
1,916
1,140
640
3,355
5,239
1,700
894
638
3,538
7,887
1,580
7,714
1,727
8,573
1,906
8,874
1,931
9,563
2,015
11, 024
2,212
12, 162
2,247
11, 856
2,233
14, 159
2,509
14, 163
2,777
1,098
1,728
847
117
278
486
1,093
1,718
817
134
304
463
1,144
1,923
973
107
329
513
1,130
2,032
1,043
113
326
550
1,227
2,084
1, 009
142
363
570
1,301
2,368
1,162
122
445
639
1,440
2,644
1,243
137
573
691
1,386
2,371
1,015
162
584
610
1,431
2,749
1,180
148
689
732
1,595
2,658
1,142
117
708
691
56
Merchandise imports, Census basis 1 (line 7)__
57
58
59
60
61
Foods, feeds and beverages
Coffee cocoa and sugar
Green coffee
Cane sugar
Other foods, feeds, and beverages
62
63
Industrial supplies and materials
Fuels and lubricants
64
65
66
67
68
69
- -
-
.-. -
- -
- -
l
Paper and paper base stocks.. -- - -- -- ..
- - - -.
Materials associated with nondurable goods and farm output
Textile supplies and materials
Tobacco unmanufactured
Chemicals excluding medicinals.
- ._ ._ _
Other (hides, copra, materials for making photos, drugs, dyes)
Building materials except metals
540
537
615
660
705
722
784
754
1,072
1,187
2,941
524
508
1,197
713
2,639
443
421
1,166
609
2,985
502
537
1,324
621
3,121
494
692
1,347
588
3,533
602
825
1,463
642
4,421
679
1,272
1,808
661
5,047
758
1,312
2,229
749
5, 112
688
1,422
2,259
744
6,398
673
2,123
2,734
869
5,945
649
1,914
2,362
1,021
562
535
123
413
83
693
572
136
436
98
758
681
168
512
120
823
798
181
618
133
1,039
1,020
203
817
190
1,458
1,357
301
1,056
247
2,135
1,923
477
1,446
341
2,382
2,252
535
1,718
378
2,825
2,637
700
1,938
460
3,331
3,154
870
2,284
502
114
135
58
22
126
115
73
24
144
152
62
33
177
179
77
52
244
191
84
108
336
247
110
116
486
329
151
139
650
352
183
154
738
337
225
178
883
347
339
212
85
85a
Capital goods except automotive
Machinery except consumer-type
Electrical and electronic, and parts and attachments
Nonelectrical, and parts and attachments
. ...
.
Construction, textile and other specialized-industry machinery
and nonfarm tractors and parts.
Other industrial machinery and parts, 11. e.s. _
------Agricultural machinery and farm tractors and parts. . . . . .
Business and office machines computers etc., and parts
Scientific, professional and service-industry equipment and parts;
and miscellaneous transportation equipment.
Civilian aircraft engines parts
Civilian aircraft complete — all types .
._
27
2
121
74
78
40
25
1
20
2
102
67
212
153
129
59
188
109
177
110
86
87
88
89
90
91
92
Automotive vehicles and parts (including engines and parts) _ _ _
From Canada
...
From Canada transactions value
From all other areas
Passenger cars new and used
Trucks buses and special vehicles
Parts and accessories (including engines and parts)
633
11
11
622
544
30
60
383
8
8
375
318
13
52
521
9
9
512
433
17
71
586
29
29
557
467
23
96
767
102
102
665
593
24
151
939
246
229
693
670
44
225
1,910
916
841
994
1,244
174
492
2,634
1,599
1,437
1,035
1,701
301
631
4,295
2,618
2,318
1,677
2,796
479
1,020
5,346
3,494
S,148
1,853
3,369
722
1,255
93
94
95
96
Consumer goods (nonfood), except automotive
Consumer durables, manufactured _ _ . ..
......
Consumer nondurables, manufactured
Unmanufactured consumer goods (gems, nursery stock) _
1,901
971
714
217
1,889
1,000
644
245
2, 276
1,216
811
249
2,389
1,266
844
280
2,694
1,379
991
324
3,305
1,732
1,191
381
3,912
2,108
1,349
455
4,213
2,190
1,556
467
5,830
2,754
2,009
567
6,503
3,422
2,480
601
97
Imports, n.e.s. (low value, goods returned, military aircraft, Government purchased uranium, movies, exhibits).
802
749
752
781
771
849
1,000
1,219
1,347
1,470
70
71
72
7d
74
75
76
77
78
79
80
81
82
83
84
Materials asso°iated with durable goods output, n.e.s
Stee making materials
Iron a n d steel products
_
. _ - . _ _
Other metals, primary and advanced, including advanced steel 1
Nonmetals (gums, oils, resins, minerals, rubber, tires, etc.)
. ..
-
p Preliminary
1. The figures shown for export and import lines are the trade totals published by the Census
Bureau, with the following exceptions:
Exports and Imports: Beginning with 1968 data, exports and imports as published by the
Census Bureau reflect revisions for the inclusion of trade in silver ore and bullion, but prior
years were not similarly revised. To achieve comparability over time, all pre-1968 periods
shown in this table have been adjusted to include silver transactions.
Imports only: 1962 imports as shown do not include an upward revision of $10 million which
is reflected in the revised 1962 import total published by the Census Bureau, because sup-
porting commodity detail was not available. This amount is included instead in the balance
of payments adjustment shown in line 10, and is represented in total merchandise imports,
balance of payments basis, line 11.
2. Mainly includes net additions or liquidations of U.S.-owned grains into or out of storage
in Canada; and exports of electrical energy.
3. Reflects exports of military equipment under Department of Defense (DOD) sales
contracts with foreign governments to the extent such exports are identifiable from Census
export documents; these exports are contained in table 1, line 4 (Transfers under military
sales contracts).
SURVEY OF CURRENT BUSINESS
June 1970
49
Trade—Continued
of dollars)
Seasonally adjusted
Not seasonally adjusted
1968
I
II
III
IV
I
II
1968
1970
1969
III
IV
IP
I
1969
III
II
I
IV
1970
III
II
IV
Line
IP
793
534
259
280
97
416
935
646
289
247
115
573
705
461
244
154
99
452
1,019
737
282
301
122
596
922
677
245
276
111
535
1,056
734
322
253
160
643
844
578
266
190
127
527
1,066
747
319
304
133
629
906
605
301
179
143
585
780
517
263
261
99
420
885
608
277
248
104
533
879
612
267
246
106
527
904
637
267
228
126
550
911
661
250
257
113
541
997
690
307
254
144
599
1,047
759
288
300
136
611
942
641
301
230
135
577
900
592
308
167
144
589
42
43
44
45
46
47
528
207
301
20
615
235
353
27
611
221
366
24
580
228
324
28
563
220
308
35
711
284
397
30
663
263
373
27
659
251
373
35
670
243
397
30
528
206
302
20
593
223
345
25
641
238
374
29
575
226
322
27
566
222
312
32
685
270
388
27
691
281
378
32
652
246
370
36
676
245
403
28
48
49
50
51
257
201
285
368
337
485
470
358
292
257
201
285
368
337
485
470
358
292
52
192
93
99
216
107
109
208
99
109
234
114
120
212
95
117
266
125
141
251
112
139
358
211
147
335
201
134
198
96
102
202
100
102
217
104
113
234
112
122
219
99
120
249
118
131
259
116
143
360
208
152
349
211
138
53
54
55
7,764
8,256
8,457
8,749
7,409
9,781
9,195
9,667
9,456
7,867
8,151
8,548
8,526
7,643
9,635
9,301
9,443
9,719
56
994
283
154
92
711
1,433
477
243
198
956
1,327
428
209
179
899
1,485
512
288
170
973
1,472
494
292
131
979
1,222
446
267
152
776
1,320
502
283
174
818
1,430
512
325
150
918
1,275
450
260
159
825
1,045
298
144
129
747
1,450
481
256
189
969
1,313
402
206
140
911
1,414
528
291
169
886
1,537
507
273
• 185
1,030
57
58
59
60
61
1,187
437
289
109
750
1,301
495
268
182
806
1,438
540
325
189
898
1,345
443
257
161
902
3,511
657
3,593
568
3,571
632
3,484
651
3,033
700
3,916
664
3,606
675
3,608
738
3,648
846
3,528
599
3,491
593
3,559
642
3,518
664
3,109
649
3,794
693
3,581
674
3,658
760
3,730
783
62
63
337
735
299
81
172
183
378
690
303
24
175
188
336
664
302
10
171
181
380
660
276
34
171
179
356
588
249
29
145
165
403
796
339
56
206
195
401
649
293
19
178
159
436
625
261
12
179
173
399
747
314
49
209
174
352
660
281
43
172
164
370
663
292
20
161
190
337
730
310
47
179
194
364
701
293
50
176
182
377
553
239
15
148
151
393
757
326
45
189
197
396
735
296
88
184
167
422
662
280
18
186
178
423
696
300
26
211
159
64
65
66
67
68
69
216
253
292
312
282
366
299
241
222
241
238
264
327
319
343
267
255
252
70
1,566
110
419
832
205
1,704
192
556
751
205
1,647
209
613
591
234
1,481
161
535
560
225
1,108
85
278
529
215
1,687
161
604
651
271
1,582
190
544
584
264
1,568
213
487
598
270
1,435
116
409
643
267
1,676
168
473
831
204
1,627
179
525
720
203
1,586
173
565
612
236
1,462
148
539
552
223
1,211
133
322
538
218
1,608
149
570
621
268
1,509
154
494
600
261
1,559
198
496
596
269
1,576
180
472
653
271
71
72
73
74
75
677
632
153
479
111
691
645
164
481
108
703
664
180
484
119
753
696
202
494
123
674
628
187
441
89
925
883
230
652
148
860
817
223
594
133
872
826
230
596
132
926
883
224
659
138
691
646
159
487
113
671
625
168
457
105
722
683
181
502
119
749
692
191
501
126
682
636
191
445
89
897
854
235
619
145
879
836
223
613
132
870
824
217
607
136
932
890
228
662
138
76
77
78
79
80
171
106
50
41
192
82
55
44
187
78
54
46
188
72
65
46
170
77
63
41
247
114
88
55
241
74
89
57
225
82
99
59
253
106
107
56
180
100
50
44
189
67
52
44
184
93
62
44
187
82
60
46
177
73
63
43
242
94
84
54
236
88
103
54
225
93
93
60
261
100
105
58
81
82
83
84
45
24
46
25
39
18
57
41
46
29
43
24
43
29
46
28
42
16
45
24
46
25
39
18
57
41
46
29
43
24
43
29
46
28
42
16
85
85a
992
595
529
397
632
110
250
1,077
657
579
420
729
99
249
888
490
398
581
98
209
1,337
876
774
461
853
173
311
1,145
800
7X1
345
698
153
294
1,453
885
796
568
980
158
315
1,175
712
645
463
730
160
285
1,573
1,097
986
476
962
251
361
1,443
878
792
565
949
162
332
898
559
495
339
563
101
234
1,034
614
539
420
690
103
241
1,116
645
574
471
754
121
241
1,245
782
694
463
800
148
297
1,059
760
683
299
663
146
280
1,393
824
740
569
925
164
304
1,475
933
846
542
947
199
329
1,469
987
889
482
908
215
346
1,328
838
754
490
860
153
315
86
87
88
89
90
91
92
1,095
548
424
123
1,257
634
476
147
1,518
786
591
141
1,461
787
518
156
1,251
632
475
144
1,678
871
645
163
1,843
965
737
141
1,730
954
624
15b
1,652
871
648
132
1,209
610
471
128
1,303
655
495
153
1,379
732
507
140
1,392
728
522
142
1,410
719
538
153
1,734
897
669
168
1,669
898
631
140
1,655
884
631
140
1,852
982
729
141
93
94
95
96
302
337
339
369
313
375
383
399
315
319
332
342
347
338
367
384
377
340
97
436
4. Mainly represents exports of exposed motion picture film for rental rather than sale
and exports to Panama Canal Zone.
5. Reflects irregular and occasional special adjustments: valuation adjustments for goods
considered to be underpriced or overpriced in Census data; timing adjustments for goods
recorded in Census data in one period but found to have been shipped in another, and
coverage adjustments for special situations in which shipments were omitted from Census
data.
6. To correct total exports (and total imports) for discrepancy between seasonally adjusted
sum of four quarters and recorded, unadjusted annual figures.
7. Mainly imports of electrical energy.
8. Consists mainly of foreign charges for repair of U.S. vessels abroad, which are included
in tables 1, 2, and 8, line 17 (Transportation); imports from Panama Canal Zone; and imports
of domestically owned grains returned from storage in Canada.
9. Figures shown here for 1965 total $92 million higher than the total published by the
Census Bureau and shown in line 7, above. This amount represents adjustments (see line 10)
estimated by the Office of Business Economics and distributed by end-use categories (lines
56-97) to correct for distortions in the Census figures reported for the July-December period.
NOTE.—Seasonally adjusted quarterly details may not add to unadjusted annual totals.
Source: U.S. Department of Commerce, Office of Business Economics.
SUEVEY OF CURRENT BUSINESS
50
June 1970
Table 5.—Major U.S. Government Transactions
[Millions of dollars]
1966
Line
A.
1
la
U.S. Government grants (excluding military) and transactions increasing Government assets, total
(table 1 lines 29 42 and 43, with sign reversed)
.
. . 4,676
Seasonally adjusted
1967
5,227
1968
5,358
1969
1969
5,032
1970
IP
I
II
III
IV
1,136
1,654
1,154
1,519
1,089
1,118
1,281
1,213
1,183
1,259
By category
2
3
4
10
11
12
13
14
15
16
Grants net
--Credits repayable in foreign currencies
_.
_
-- -- -Other foreign currency assets (excluding administrative cash holdings), net. _ . _. ... ...
Receipts from—
Sales of agricultural commodities
Interest
-.....
.
.
Repayments of principal
..
- - - ..
.
_ . . - _ _ ' _.
Reverse grants
_ _ _
_
..
Other sources
Less disbursements for—
Grants in the recipient's currency
Credits in the recipient's currency
Other grants and credits
_...
Other U S Government expenditures .
.
.. _
... Capital subscriptions to international and regional organizations, excluding IMF
Credits repayable in U S dollars
Other assets (including changes in administrative cash holdings), net
.
..
17
18
19
20
21
22
23
24
25
By program
Under farm product disposal programs
-_ . .
Under Foreign Assistance Acts and related programs
Under Export-Import Bank Act
Capital subscriptions to international and regional organizations, excluding IMF
Other assistance programs
- -Other foreign currency assets acquired (lines A 6 A. 7, and A 9)
Less foreign currencies used by U S Government other than for grants or credits (line A. 13)
Advances under Exchange Stabilization Fund agreements, net.
- .
Other (including changes in administrative cash holdings), net
.
.- . ..
5
6
7
8
9
1,910
354
265
1,802
776
-198
1,707
559
-69
1,644
432
-120
374
295
-234
569
52
109
328
39
1
373
46
4
410
114
-40
844
181
119
1
17
741
171
173
2
20
558
198
133
3
34
333
200
142
2
8
36
52
32
1
3
180
51
37
(*)
1
59
49
36
1
2
58
49
37
(*)
2
101
55
39
(*)
387
232
270
-101
2,248
(*)
218
679
7
401
194
2,665
-12
224
465
6
301
127
3,028
7
146
313
12
334
184
2,861
30
36
254
1
66
22
676
3
36
32
2
90
55
880
-11
40
13
1
92
50
612
58
35
15
7
86
57
694
-20
47
98
2
90
66
704
27
1,396
2,274
909
-101
158
316
270
-8
2
1,316
2,280
1,259
194
221
364
401
-27
21
1,259
2,149
1,517
127
233
366
301
-5
14
1,156
2,136
1,258
184
257
350
334
(*)
25
200
493
337
22
63
86
66
(*)
1
510
649
366
55
85
89
90
182
483
272
50
52
87
92
264
510
284
57
58
88
86
319
494
303
66
65
96
90
-10
54
-21
28
3,942
3,152
798
291
162
14
4,501
3,523
767
390
201
104
4,732
3,346
869
554
147
116
4,286
3,089
787
528
144
88
964
635
200
157
32
11
1,445
1,073
242
162
38
27
894
657
161
105
37
31
983
725
184
104
38
19
1,083
811
207
70
50
45
-205
270
-84
401
2
301
-16
334
-4
66
-7
90
-5
92
(*)
86
-9
90
By disposition l
26
27
28
30
31
32
33
34
B.
734
726
626
746
171
209
194
171
198
1
U.S. Government liabilities associated with specific transactions (table 1, line 57); net increase
Seasonally adjusted
_
129
-19
-97
138
-70
-79
44
105
-54
-115
219
228
-78
-90
2
2a
3
346
Associated with military sales contracts •>
Seasonally adjusted
U.S. Government receipts from foreign governments (including principal repayments on credits
financing military sales contracts) , net of refunds
. . . _ 927
291
Plus military sales contracts financed by U S Government credits 6 (line A 29)
43
Less U S. Government receipts from principal repayments __
_.-_.
829
Less transfers of goods and services (including transfers financed by credits) (table 1, line 4)
64
-105
156
-64
16
-38
243
-51
-65
84
-91
229
-55
236
157
66
390
322
162
87
381
298
105
35
405
593
104
116
338
198
70
38
280
-4
-7
-7
-5
-4
(*)
-2
-7
.(*)
-5
(*)
-10
28
-go
i
35
-10
95
-10
-171
-45
-115
-15
105
-126
-100
la
4
5
6
C.
Estimated transactions involving no direct dollar outflow from the United States
Expenditures on U S merchandise
Expenditures o n U S services 2
-Military sales contracts financed by U.S. Government credits 3 - 4 (line
B.4)
. .. .
.
U S Government credits 3to repay prior U.S. Government credits 2
U S Government credits to repay prior U.S. private credits
... _
Increase in claims on U.S. Government associated with Government grants and transactions
increasing Government assets (including changes in retained accounts) (line B.7)
Less foreign currencies used by U.S. Government other than for grants or credits (line A. 13)
Estimated dollar payments to foreign countries and international and regional organizations through
U S Government grants and transactions increasing Government assets
(+)..
7
7a
8
9
10
11
12
Associated with U.S. Government grants and transactions increasing Government assets (line A. 32)..
Seasonally adjusted
Non-interest-bearing securities issued to IDA
Non-interest-bearing securities issued to ID B
Non-interest-bearing securities issued to U.N. for special programs
Foreign funds retained in U.S. Government accounts for purchases in the United States
._
Other
__
.
_..----_.-
13
13a
14
15
16
Associated with other specific transactions
Seasonally adjusted
Purchase of Columbia River downstream power rights _ _ _ .
.
U S Government nonmilitary sales and miscellaneous operations
Nonmarketable U S Government obligations to be liquidated against U S claims
1
2
3
4
-
-- -
Foreign holdings of nonmarketable medium-term U.S. Government securities and U.S. Government
long-term obligations, payable before maturity only under special conditions, not associated with
specific transactions (table 1, line 58); net increase (+)
Export-Import Bank Portfolio Certificates of Participation
German Government 10-year loan to United States
Government
U.S. Treasury securities not included elsewhere 7
v Preliminary.
*Less than $500,000 (-b).
1. The identification of transactions involving direct dollar outflow from the United States
is made in reports by the operating agency. Such data for fourth quarter 1968, for first, second,
and fourth quarters 1969, and for first quarter 1970, however, are simple extrapolations by
OBE, because of incomplete reports from one operating agency.
2. Line A.28 includes foreign currency collected as interest and line A.30 includes foreign
currency collected as principal, as recorded in lines A.6 and A.7.
3. Includes some short-term U.S. Government claims, net of collections.
4. Consists of transfers of military goods and services financed by U.S. Government credits
and of advance payments to the Defense Department (on military sales contracts) financed
by credits extended to foreigners by U.S. Government agencies.
1,023
390
110
1,240
966
554
229
1,395
1,449
528
305
1,515
-205
-84
2
-16
-75
-150
-41
61
(*)
-25
—17
-43
1
-4
2
(*)
-16
(*)
-12
1
6
-2
-30
-4
22
-30
12
20
-30
55
-19
-30
32
-4
-4S
-3
469
19
2,010
47
-46
450
1,963
-41
-71
75
-46
-2
35
-J
-12
9
(*)
(*)
(*)
(*)
-24
-1
-30
6
150
(*)
75
75
-9
-9
-9
(*)
-18
-26
-16
2
-242
-242
5. Transactions under military sales contracts are those in which the Defense Department
sells and transfers military goods and services to a foreign purchase, on a cash or credit basis.
The entries for the several categories of transactions related to military sales contracts in
this and the other tables are partially estimated from incomplete data.
6. Consists of transfers of military goods and services financed by U.S. Government credits
(included in line B.6) and of increases in Defense Department liabilities (on military sales
contracts) which arise from advance payments to the Defense Department financed by
credits to foreigners by U.S. Government agencies.
7. Includes securities payable in U.S. dollars and in convertible foreign currencies.
NOTE.—Details may not add to totals because of rounding.
Source: U.S. Department of Commerce, Office of Business Economics.
SURVEY OF CUEEENT BUSINESS
June 1970
51
Table 6.—Claims on Foreigners Reported by U.S. Banks and U.S. Private Residents Other Than Banks
[Millions of dollars]
1966
Line
1967
1968
19 58
1969
I
IV
III
I
II
1970
III
IV
IP
Amounts
outstanding
March 31,
1970
Claims reported by U.S. banks.
A.
1
2
3
4
5
g
7
g
Long-term (table 1 line 37, with sign reversed)
Canada
United Kingdom
European Economic Community
Other Western Europe
Japan
Other countries
-- .
_ _ _ _ _ _ _ _
Short-term (table 1, line 38, with sign reversed) ...
12
13
14
15
U S -dollar loans
Canada
-_ United Kingdom
European Economic Community
Other Western Europe
Japan
__
Other countries.
16
17
18
19
20
21
22
U S -dollar acceptance credits
Canada
_
United Kingdom
European Economic Community
Other Western Europe
Japan
_Other countries
93
24
25
9
6
27
28
°9
U S -dollar collections outstanding
Canada
United Kingdom
European Economic Community
Other Western Europe
Japan
Other countries
30
31
32
33
34
35
36
Other claims in U.S. dollars
Canada
United Kingdom.
European Economic Community
Other Western Europe
Japan
Other countries
37
38
39
40
41
42
43
Foreign currency deposits and other claims
Canada
United Kingdom
European Economic Community _ _ - _ _ _ _ _ _ ,
Othern Western Europe
_
___
Japan
Other countries
__ .
9
10
11
B.
II
19 39
__
_ .
.
-
Claims reported by U.S. private residents other than banks.
1
Long-term (table 1, line 39, with sign reversed) _
2
3
4
5
6
g
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
Canada
United Kingdom
European Economic Community
Other Western Europe.
Japan
Other countries
_
_ ___ .
Short-term (table 1, line 40, with sign reversed)
Reported by brokerage concerns
Reported by others
Canada
_. __ _ ___ United Kingdom
European Economic Community _ _ _ __ __ _
Other Western Europe
Japan
__ ___ _ _
_.
Other countries
_ _
Of which: Deposits and money market assets.
U.S. -dollar claims reported by major U.S. corporations
Foreign currency claims.
Canada
United Kingdom _ _
European Economic Community
Other Western Europe
Japan
.
Other countries
—337
—255
—358
-33
— 16
—216
-154
-119
201
101
— 14
—240
— 189
-146
233
1
12
— 121
— 121
—58
—71
330
4
140
49
165
—20
13
23
38
—34
202
— 12
2
38
12
2
11
68
48
— 20
27
1
g
49
46
— 16
61
10
3
13
15
14
31
0
91
133
28
1
4
g
8
94
31
2
13
1
26
3
13
14
18
48
8
62
35
5
1
10
g
5
39
2
1
25
18
1
31
406
56
121
285
87
2 256
10
131
5
*
011
84
730
105
871
—219
143
79
388
77
588
255
615
275
9 356
169
31
—15
—21
99
-33
108
A
8
10
—43
—74
—75
170
15
—33
59
—44
—79
—11
123
117
53
31
74
29
76
— 146
119
20
29
61
37
*
—30
10
17
28
15
—42
56
156
17
15
26
7
43
62
32
13
15
37
20
12
35
41
3
7
11
25
66
—57
119
38
2
35
8
47
87
232
93
5
14
11
1
—211
189
40
35
14
7
58
35
g
4
49
8
38
—60
—9
3 285
215
198
209
227
509
1 927
-58
-7
8
25
38
-219
97
473
5
13
-32
-21
438
70
—159
19
6
—15
—15
-109
—45
315
26
18
21
—10
47
213
22
9
4
14
__5
7
23
195
1
3
1
—15
—88
91
51
3
3
11
—8
— 111
73
109
6
2
9
13
83
4
78
4
2
4
25
—104
45
291
10
4
14
10
212
41
—94
3
9
2
2
—141
31
196 —161
9
—23
7
—6
1 _ i
3
—16
80 — 212
97
96
3 044
75
55
44
139
1 589
1 142
95
3
19
6
29
38
222
—1
—3
-10
—4
184
56
181
6
13
11
5
71
75
221
g
9
30
14
120
42
78
g
3
—3
48
31
15
1
1
4
2
34
17
g
3
5
1
5
5
3
112
4
4
9
9
62
24
99
g
_ 3
_5
g
—20
—71
117
2
4
27
g
7
75
109
1
4
—8
3
89
20
94
1
4
16
11
44
18
129
_1
—3
3
—6
118
18
2 083
22
36
137
82
1 002
804
—50
-87
12
19
7
-12
11
34
—16
28
—4
1
20
5
43
—30
23
5
— 11
8
58
149
161
16
8
4
—20
—4
57
—18
—19
24
_7
7
4
57
2
26
9
1
_2
23
52
24
16
1
*
12
1
95
10
32
11
—3
15
30
58
94
20
17
2
_3
—38
41
—44
2
1
3
—9
6
20
1
21
g
1
*
5
112
110
—27
14
— 145
—8
23
-24
—8
—3
3
-19
529
244
74
15
11
77
108
-72
14
— 14
2
-11
—31
-28
5
— 10
3
-7
*
9
10
25
—26
— 27
31
12
*
35
69
40
26
3
—8
5
3
—99
—61
—20
—20
20
8
—5
—3
5
—19
2
5
1
*
13
5
3
9
104
46
—4
46
8
*
8
1
42
2
—37
-3
—3
102
55
9
22
2
8
6
—58
—82
—1
26
3
—6
2
24
25
16
-8
-10
3
2
-104
-52
-6
-37
2
-5
-6
415
116
55
85
27
39
93
112
281
220
424
—34
32
57
165
82
80
13
249
!338
* 2,806
33
—4
12
71
—3
3
39
17
34
25
33
133
98
104
5
39
*
-26
77
4
74
53
13
203
9
—4
6
—1
—42
15
—9
*
24
2
*
31
10
5
20
—3
—6
43
105
4
—11
2
22
13
28
-13
49
—3
8
15
—7
16
9
17
30
18
-2
6
-4
1
-6
31
-15
65
-1
-2
171
293
-2
11
11
25
751
444
163
279
152
1,017
331
587
81
—13
118
15
4,174
110
— 123
39
-227
-21
—31
12
105
— 115
233
190
87
-54
26
-7
—9
4
11
-17
-70
96
7
11
-16
n
2
479
982
— 155
327
9
322
-111
253
81
31
2
66
170
309
55
102
6
37
49
60
210
772
-6
446
134
10
23
165
—230
75
187
—224
66
—1
27
20
—29
356
—45
338
58
16
-6
—5
103
484
58
420
23
— 18
-3
4
155
122
497
-293
280
180
—25
409
96
26
321
176
—88
225
33
2
-30
13
18
105
-14
5
10
—2
— 19
367
109
12
-10
38
-90
-238
-23
51
-43
-258
®QQ
—54
265
15
402
7
26
55
—58
—85
74
43
20
61
32
-224
—153
185
—193
—31
-369
-48
— 11
-7
—35
— 29
246
45
8
*
10
—1
-10
15
—73
-18
81
35
2
5
136
328
-22
-74
27
26
-59
-118
111
46
359
*
227
165
62
37
-220
-17
-30
-2
8
183
85
-41
7
-5
-2
11
-92
57
126
-59
—125
66
-20
-78
72
-6
-1
-26
QA
-248
-40
52
-100
-148
-87
-35
-25
-17
9
7
-19
-21
101
-206
49
-17
14
38
-57
109
-189
215
2
-5
38
48
221
3,953
538
1,198
643
230
271
1,073
161
1,710
-194
-267
—148
—131
—136
—46
173
—12
1,344
366
104
-90
-53 -323
-32
-47
g
-6
-2
1
7
-14
-210
344
3
-1
25
309
1,019
167
11
65
139
103
137
-162
-56
155
691
*
Memorandum items:
26
27
U.S. -dollar deposits in Canadian banks:
As reported by major U.S. corporations other than banks
(included in line B. 18)_._
As reported in Canadian banking statistics..
ppreliminary.
*Less than $500,000 (±).
1. Lines B. 1-B. 25 are based on partial data.
20
58
-44
7
SUEVEY OF CUBEENT BUSINESS
52
June 1970
Table 7.—U.S. Liquid Liabilities to Foreigners
[Millions of dollars]
K 69
1)68
Line
1966
1967
1968
1969
I
1 Liquid liabilities to all foreigners (table 1, lines 59 and
60; table 3, lines 10 through 14)
2
3
4
5
6
7
8
9
10
11
12
13
14
15
20
21
22
23
24
25
26
27
28
29
30
31
I
II
III
1,316
IV
I P
out-
1970
32
993
4,115
3,658
-681
1,194
43,233
2,020 -3,101
-525
-1,358 -2,190
-38
485 -1,708
-538
2,235
-514
2,744
15,747
Central banks and governments..- _ . - . .
—1,772
Demand deposits
144
Time deposits l
—250
Other private lobligations, mainly money
market paper
_
—123
1 998 —3 098
375
94
—206
—559
—514 —1,366 —2, 179
—231
51
1 044
—333
—184
-38
—106
25
485 —1,709
—137
151
—67
—23
-535
25
111
2,244
—44
132
-514
—75
824
2,753
—473
457
14, 737
1,445
3,400
35
-33
-177
-263
161
1,097
753
2,892
581 —1 344
—398
—398
1 920 —2 081
2,076 —2, 051
2 145
-156
2 145
6,191
5,989
-30
—67
—3
380
—212
—126
429
-212
—126
429
-9
1,010
22,369
U.S. Government obligations:
Short-term securities and other obligations
Payable in U.S. dollars
Payable in foreign currencies
Bonds and notes, marketable
Bonds and notes, nonmarketable, convertible
Payable in U.S. dollars
Payable in foreign currencies
International Monetary Fund 2
To foreign commercial banks
789
—353
—870
517
3,492
21
708
—56
8 408
818
1 305 —2 188 —1 903
1 670 — 2 499 — 1 642
—865
311
—261
To other foreign residents and unallocated
Demand deposits
Time deposits l.Other private obligations, mainly money market
paper * _
.
To international and regional organizations not included above.
Demand deposits
Time deposits l
Other private
obligations, mainly money market
paper l
U.S. Government obligations:
Short-term securities
Bonds and notes
—884 —2 036
—949 — 2 036
151
8
—26
—2
—3
(*)
—9
—61
—25
—10
84
—61
—25
—10
-25
109
1
-3
-9
—79
—359
—945
455
—10
—163
100
(*)
—49
—820
455
—10
—138
100
(*)
—A9
177
22
—3
—11
8
-11
(*)
3,387
9,434
638
2,205
968
1,272
-25
2 299
n. a.
n.a.
n.a.
7,172
1,854
349
1 297
—102
2 611
131
6 631
723
536
24
1 768
94
470
24
84
—7
744
—99
2 090
—10
156
—78
343
(*)
n.a.
n.a.
—117
522 —1 269
-75
59
—379
-125
321
—36
187
65
48
—424
3,134
4,716
1,554
30 -1,537
366 -1,717
202
2,952
4 805
1,311
n.a.
3,163
4,527
1,112 -1,630 -1,058
12,153
699
73
—392
—60
2 020
195
3,837
183
692
426
82 —1,900
—34
—81
15, 105
1,962
191
5
54
—26
907
12
703
-7
446
—10
34
-5
729
n.a.
—96
396
1
5,281
21
212
414
375
—441
4
103
44
224
—22
-145
-143
-131
-167
4,301
—61
225
180
233
104
144
—88
—388
—108
2
110
—5
—53
68
155
83
—46
—37
38
—170
—12
—188
—68
7
57
—201
1,766
1,610
—3
—27
70
—50
47
3
26
—6
13
25
—21
—67
49
361
—5
56
—2
30
6
51
21
64
21
46
—14
9
—10
13
9
—17
18
30
1
—39
2
76
(*)
—3
-19
—53
88
476
—525
—214
48-
—60
79
—86
19
36
—88
82
12
-66
154
816
15
—62
11
—15
1
—8
—10
—30
15
22
-3
—24
—1
12
—10
—18
1
—21
7
—17
-14
11
-4
-3
24
52
81
136
—93
—55
1
119
9
—25
23
—6
116
79
4
—80
—8
219
42
—427
-34
—121
216
—162
-150
11
32
1
5
—39
75
—90
104
—34
-183
—1
3
10
10
1
20
1
86
(*)
330
50
p Preliminary.
* Less than $500,000 (±).
n.a. Not available.
1. With maturity of 1 year or less; negotiable certificates of deposit with a maturity of 1 year
or less are included with money market paper.
2. Includes liabilities of U.S. monetary authorities for gold deposited by and held for IMF.
Excludes dollar holdings of IMF except holdings acquired through gold sales to the United
59
455
Demand deposits
Time deposits l
Other private obligations, mainly money market
paper 1
U.S. Government short-term securities. .. ..
U.S. Government obligations:
Short-term securities
Bonds and notes
—637
—245
2,697
To foreign branches of U.S. banks 3
19
IV
Amounts
standing
March 31,
-1,595
To foreign official agencies
Seasonally adjusted
16
17
18
III
II
1970
States with the option to reverse the transactions. These reversible transactions amounted
to $200 million in 1956, $300 million in 1959, and $300 million in 1960.
3. These data are end-of-quarter estimates of liabilities of U.S. banks to their foreign branches;
they are derived from weekly and daily figures compiled by the Federal Reserve System.
June 1970
Continued From Page 33
SUKVEY OF CUKRENT BUSINESS
Treatment of the mark revaluation
As noted in the discussion of special financial
followed in calculating the seasonal adthe U.S. Government had a subjustment for the balance on official reserve transactions,
stantial obligation denominated in German
transactions.
when the mark was revalued last
In some cases, 1969 data distorted the marks
October. The revaluation raised the dollar
seasonal pattern and the adjustment was value
such securities above their dollar value
based on data only through 1968. Merchan- when of
were initially purchased by Gerdise exports and imports, and transportation many. they
time, the transactions were
receipts and payments were handled this way recordedAtin that
the balance of payments statistics
because of distortions due to the dockworkers' at their current
value (see table A2, lines 9
strike in 1969.
In general, the seasonal adjustment proce- andAs16).
a result of the German revaluation there
dure is to run each line in table 1 through the was an
of $94 million in the dollar
Census X-ll program. Where a stable or value ofincrease
the original $1,125 million of U.S.
gradually changing seasonal pattern is present— Government
for the nonconthe types of patterns for which X-ll is de- vertible U.S.indebtedness
securities issued to
signed—the seasonal adjustment indicated Germany underTreasury
the agreements to offset U.S.
by the X-ll program is applied to that line. military expenditures.
addition there was a
Series that do not have a stable or gradually $17 million increase In
in
value of U.S.
changing pattern are examined further to see Government convertible the
(liquid)
securities
if any seasonal pattern can be discerned.
outstanding
with
an
original
value
of $200
Types of series that require further analysis million. Offsetting these increases in liabilities
include those in which very large nonrecurring of the U.S. Government was a $67 million
singular transactions or groups of transactions increase in the dollar value of German marks
obscure the seasonal pattern of the rest of the held
in U.S. official reserves. In addition,
series, and those in which the imposition of a interest
costs on some of the mark securities
new government program or an abrupt shift still outstanding
will be lowered by $20
in institutional arrangements causes a sudden million through a revaluation clause, thus
change in the intra-year pattern of activity. compensating for the increase in the dollar
An example of the first type of series is U.S. value of the principal.
travel payments. The U.S. travel payment
The changes in the value of U.S. assets and
series was strongly affected by the Canadian liabilities
resulting from the mark revaluation
Expo-1967. The estimated impact of this are not recorded, per se, as balance of payfactor was removed and the series reprocessed ments transactions (although the outstanding
on X-ll. An example of the second type is level of U.S. reserves and liabilities—as redirect investment flows.
ported in the last column of table 3, for lines
In recent years, the seasonal pattern of 8, 12, and 23—fully reflects the new values).
direct investment flows has been drastically On the other hand, when the notes are liquialtered by huge yearend flows of funds that dated the transactions are recorded at their
were generated by the advent of the manda- new value; for instance, in the first quarter,
tory direct investment program in early 1968. the outflow was $542 million, rather than the
In the last few weeks of both 1968 and 1969, original value of $500 million. As a result, the
U.S. corporations brought an enormous amount cumulative liquidity balance between the time
of funds into the United States, sharpty im- of the revaluation and the time at which the
proving the fourth quarter liquidity balance. last notes are paid off will show an apparent
And in the first part of the following years, deficit slightly larger than it would otherwise
part of the inflow was reversed. Not only have
shown because the effect of revaluation
was the direct investment account affected by on the dollar value of mark assets held in U.S.
these flows, but similar shifts were evident reserves will not have been reflected in the
in other U.S. corporate claims and liabilities balance of payments accounts.
(see table C2).
When the seasonal adjustments were computed in the spring of 1969, with on y one Continued From Page 6
year's experience of such flows, it was necessary
Both agencies finance their activities
to follow the regular X-ll procedure and
such flows had to be implicitly interpreted as through borrowing in the general credit
irregular, nonseasonal movements.
With two years' experience with these year- market, and both borrowed heavily last
end direct investment flows and the OFDI year. The proceeds were used to acquire
program as a clearly identifiable source of such mortgages through secondary market
an abrupt shift in the seasonal pattern, new
seasonal factors for 1968 and 1969 have now purchases (FNMA), or to extend loans
been created by averaging the quarterly move- to savings and loan associations
ments over the two year period. Following
customary procedures, large singular trans- (FHLB). In its role as provider of a
actions possessing nonseasonal characteristics secondary market for Governmentwere deleted in the construction of the factors.
A similar procedure was followed for the other backed FHA and VA mortgages,
corporate claims and for liabilities other than FNMA last year increased its portnew issues (as in table C2), except that no
stable pattern was evident in the second and folio of 1- to 4-family mortgages by
third quarters so only the first and fourth almost $4 billion. That increase
quarters were adjusted.
There are also some series for which neither amounted to 25 percent of the 1969 rise
the X-ll program nor further analysis disclose in total mortgage debt outstanding on
a stable or gradually changing seasonal pattern, such as "foreign direct investments" in such structures, compared with a share
the U.S. (table 1, line 52) and foreign trans- of about 10 percent in 1967 and 19<p8.
actions in "U.S. securities other than Treasury
issues" (table 1, line 53). Such series are In 1966, the increase in FNMA holdings
usually characterized by very large and irreg- was $1.9 billion, amounting to about
ular quarter to quarter fluctuations. This does
not mean that seasonal influences are not 18 percent of that year's total. Outpresent. Rather, it means that the seasonal standing FHLB advances to savings
pattern is not sufficiently stable or sufficiently
large in comparison with the irregular fluctuations. and loan associations showed a net rise
53
last year of $4 billion, equal to almost
50 percent of the increase in S. & L.
mortgage portfolios (which consist
mainly of mortgages on 1- to 4-family
homes).
The role of the two agencies expanded
during the course of the past year, as
can be seen in the accompanying table.
In the last quarter of 1969 and the first
quarter of 1970, increases in the FNMA
portfolio accounted for almost half of
the total growth in outstanding 1- to
4-family mortgages, and S & 17 s in the
first quarter increased their borrowing
from the FHLB by an amount that
was actually slightly larger than the
increase in their residential mortgage
holdings.
It is reasonable to assume that the
secondary market acquisition of FHA
and VA mortgages by FNMA, which
was especially heavy after mid-1969,
enhanced the attractiveness of such
mortgages. It thus seems likely that the
activities of FNMA have been an important factor underlying the recent
upturn in starts under FHA and VA
inspection, in the face of a steady decline in other starts. (Certain jurisdictions with usury law ceilings have
exempted FHA and VA mortgages,
but not "conventional" ones, from the
ceilings; this, too, may have influenced
the starts trend.)
Before mid-1969, movements in the
number of units in 1- to 4-family structures started under FHA and VA
inspection closely paralleled movements
in total private starts in such structures. The divergence since then has
been striking: FHA-VA starts rose
from a seasonally adjusted annual rate
of about 185,000 last July to 265,000 in
April, while other starts in 1- to 4family structures fell substantially. The
trend by quarters is shown below. Since
mid-1963, the period for which comparable data exist, there has been no other
divergence of anywhere near this degree.
Starts in 1- to 4-Family Structures
[Thousands of units, seasonally adjusted annual rate]
Total
private
1969' I
II
III
IV
1970' I
FHA-VA
Other
968
913
870
862
199
198
193
230
769
715
677
632
740
238
502
SURVEY OF CURRENT BUSINESS
54
June 1970
Table 8.—U.S. International
[Millions of
United Kingdom
Line
1
2
Exports of goods and services
Excluding transfers under military grants
3
4
5
6
Merchandise, adjusted excluding military
Transfers under military sales contracts
Transfers under military grants, net
Transportation.
...
-
7
8
9
10
Travel
- .-.
Fees and royalties from direct investments _
Other private services. _
Other U.S. Government services. _
11
12
13
Income on U.S. investments
abroad:
Direct investments 2
Other private assets ._ . _ ._ .
U.S. Government assets ._ ...
_ ...
14
European Economic
Community
(Credits +; debits -)
-
... -_
_ .. ... .
Imports of goods and services
Other Western Europe
1966
1967
1968
1969
1966
1967
1968
1969
1966
1967
1968
1969
2,870
2,870
3,345
3,344
3,492
3,493
3,831
3,832
7,268
7,268
7,536
7,536
8,149
8,150
9,153
9,155
3,892
3,539
3,977
3,565
4,211
3,849
4,625
4,31S
1,756
78
(*)'
219
1,867
328
(*)
282
1,959
291
-1
293
2,026
293
(*)
325
5,404
407
5,499
428
402
455
6,067
363
-1
474
6,861
395
-2
518
2,417
64
352
421
2,304
115
412
467
2,513
124
362
489
2,751
175
305
531
68
151
131
20
43
164
141
20
42
168
157
19
43
186
172
16
89
224
224
24
120
235
235
22
115
269
241
27
138
299
270
23
53
68
114
46
64
74
116
48
69
73
116
47
83
103
128
68
251
92
106
274
102
123
275
159
130
327
194
250
321
132
41
398
118
26
435
113
45
453
130
67
158
122
77
178
119
82
196
112
110
246
123
113
-2,994 -3,138 -3,726 -4,543 -6,781 -7,302 -8,852 -9,226 -3,376 -3,613 -4,019 -4,337
15
16
17
Merchandise, adjusted, excluding military . .
Military expenditures
Transportation
....
18
19
20
Travel
..
. .
..
._
Private payments for other services
U S Government payments for other services
21
22
Income on foreign investments
in the United States:
Private payments 2
U S Government payments
-1,780 -1,705 -2, 075 -2, 112 -4, 108 -4, 484 -5,916 -5,830 -1, 775 -1,900 -2, 212 -2, 272
-146
-251
-277
-287
-247
-208 -1,138 -1,119 -1,087 -1, 172
-173
-210
-602
-656
-536
-559
-393
-762
-461
-438
-517
-606
-676
-627
_
-167
-132
-14
-190
-175
-15
-198
-222
-14
-229
-234
-14
-392
-64
-59
-422
-73
-59
-400
-87
-67
-454
-95
-71
-287
-35
-52
-332
-44
-57
-327
-47
-44
-392
-56
-53
-310
-52
-348
-57
-534 -1, 196
-34
-49
-222
-192
-293
-225
-355
-265
-582
-262
-367
-73
-351
-83
-413
-98
-564
-97
-123
-124
206
206
-712
-712
487
487
234
234
-704
-703
-73
-72
515
163
364
-48
192
-171
288
-18
-40
-40
-45
-46
-44
-44
-7
-24
-24
-17
-18
9
7
-645
-293
-689
-277
-656
-293
-563
-258
-23
-29
1
(*)
-17
-27
(*)
78
64
-4
-81
-1
-87
76
1
-1
-93
102
2
(*)
-95
-156
-352
-38
-99
-156
-412
-35
-87
-165
-362
-37
-91
-143
-305
-35
-80
-130
-325
23
24
Balance on goods and services (lines 1 and 14)
Excluding transfers under military grants (lines 2 and 14) . _
25
26
Unilateral transfers, net; transfers to foreigners (— )
Excluding military grants
-48
-47
27
28
29
30
Private remittances
Military grants of goods and services _ ..
Other U.S. Government grants
U.S. Government pensions and other transfers..
-29
(*)
-18
ft
-17
-234
-233
-18
rr
31
Balance on goods, services, and unilateral transfers (lines 23 and 25, or 24 and
26)..
-171
166
-279
-756
480
-464
-276
32
Transactions in U.S. private assets, net; increase in assets (— )
-650
-569
-1,096
-311
-892
-567
-413
-604
-353
-68
-72
-155
-403
-15
-331
-284
-1,146
-226
-71
19
151
-286
(*)
18
5
-200
23
41
-648
-14
45
222
-275
10
-173
-852"
(*)
38
-30
-438
-7
-363
-42
16
-54
34
5
20
-20
13
41
16
6
14
-51
-12
-74
13
-100
216
-40
240
96
121
22
23
-120
154
-139
189
98
121
88
38
-29
4
-252
-17
-113
-104
-464
-4
228
-12
-80
-34
-25
-5
-177
-74
-38
-71
-34
-25
-94
-39
-42
-53
62
-59
-136
-174
13
403
-67
70
-193
-200
-172
-117
-81
-141
2
-240
-9
-255
11
-178
-29
-73
-12
-89
-7
-101
-8
-126
6
-351
50
-330
41
-249
3
-232
-9
70
173
46
80
408
30
40
139
59
s-131
99
1
112
5
128
1
156
4
33
34
35
36
Direct investments 2
.
Foreign se curities newly issued in the United States
Redemptions
Other transactions in foreign securities
37
38
Claims reported by U.S. banks:
Long-term
Short-term
39
40
Claims reported by U.S. residents other than banks:
Long-term _
Short-term
..
.....
41
..
Transactions in U.S. Government assets, excluding official reserve assets,
net; increase in assets (— ).
42
43
Loans and other long-term assets
Foreign currencies and other assets
44
45
Repayments on credits:
Scheduled
Nonscheduled (including sales of foreign obligations to foreigners) ...
80
114
46
Transactions in U.S. official reserve assets, net; increase in assets (— )._
-381
-19
-80
879
47
48
49
50
51
52
53
54
Gold
SDR
Convertible currencies ...
Gold tranche position in IMF _
.
_ .
..
-301
Transactions in foreign assets in the United States, net; increase in foreign
assets (U.S. liabilities) (+).
Direct investments 2
U.S. securities other than Treasury issues
Long-term liabilities reported by U.S. banks
.
...
._
57
58
Other liabilities reported by U.S. private residents other than banks:
Long-term
_.
Short-term
Nonmarketable liabilities of U.S. Government, including medium-term
securities and long-term obligations payable prior to maturity only
under special conditions:
Associated with specific transactions
Other medium-term securities and long-term obligations
59
60
U.S. Treasury marketable or convertible bonds and notes
Deposits and money market paper held in the United States
55
56
61
62
63
- ,-
Balance on transactions in U.S. and foreign liquid and nonliquid assets,
including reserves (lines 32, 41, 46, and 51).
Allocations of special drawing rights (SDR) 3
Errors and omissions, and transfers of funds between foreign areas, net;
receipts by foreign areas (— ).
See footnotes at end of table.
-898
-126
662
835
210
-720
-65
653
64
-755
-517
-151
-94
367
-304
661
85
-315
-749
78
16
149
-220
-961
662
8
-21
-440
232
-229
-110
218
-84
1,133
772
2,572
5,679
1,196
2,300
1,302
1,666
50
1,140
1,861
2,098
23
-101
32
65
-453
-74
114
528
-16
86
82
46
63
329
(*)
112
440
2
212
1,302
-3
363
1,392
-1
4
97
5
72
336
-3
-29
1,618
(*)
100
807
-8
88
69
40
120
319
120
81
-20
72
81
33
124
271
363
392
200
32
43
-9
109
118
170
126
-68
104
-1
9
-11
-120
(*)
136
(*)
120
250
-111
758
169
224
15
-47
-7
-1
29
20
-19
-20
-205
1,125
32
1,034
52
1,465
56
5,468
-553
1,069
-316
-755
-263
164
122
521
50
-115
147
1,033
43
48
1,176
6,043
1,360
352
-654
806
2,039
1,558
127
-215
-897
-115
339
884 - 1, 374
1,730
204
-5,286 -1,840 -1,940
515
-289
784
-482 -1,575 -U282
SUEVEY OF CUEEENT BUSINESS
June 1970
55
Transactions, by Area
dollars]
Eastern Europe
1966
1968
1967
Latin American Republics and
other Western Hemisphere
Canada
1966
1969
1967
1968
1969
1966
Australia, New Zealand and
South Africa
Japan
1967
1968
1969
t
Line
1966
1967
1968
1969
1966
1967
1968
1969
235
235
232
232
258
258
296
296
9,217
9,217
9,867
9,867
10,930
10,930
12,145
12,145
7,946
7,874
8,088
8,024
8,957
8,893
9,368
9,332
3,013
3,013
3,430
3,430
3,844
3,845
4,500
4,500
1,654
1,654
1,881
1,881
2,094
2,094
2,048
2,048
1
2
200
200
220
253
6,766
40
7,302
52
8,141
39
9,179
45
1,354
103
167
174
161
193
209
3,503
18
(*)
263
1,384
179
170
2,959
31
-1
249
1,278
132
7
5,532
29
37
465
1,141
67
7
5,274
63
64
458
2,672
38
6
4,669
27
64
421
2,340
24
9
4,720
22
72
414
80
83
93
93
3
4
5
6
575
243
169
7
650
261
166
8
815
268
177
6
684
176
235
71
720
192
250
73
755
226
283
74
807
239
298
71
31
26
111
10
42
33
142
10
51
41
180
11
67
49
210
26
31
66
83
1
32
72
90
1
40
81
88
1
36
85
94
1
7
8
9
10
789
562
1
851
634
7
762
731
1
1,114
317
120
1,190
356
126
1,218
406
137
1,277
462
152
43
206
30
46
206
33
60
227
36
70
264
32
137
47
1
137
51
6
160
49
18
209
50
24
11
12
13
-8,826 -10,496 -12,047
-1,101 -1,268
14
-924 -1, 055
-42
-33
-80
-70
U
1C
17
15
1
14
2
18
2
18
2
586
215
164
7
3
8
3
8
3
9
4
13
756
515
(*)
-208
-211
-237
-234
-7,473
-6,436
-6,533
-7,185
-7,566 -3,895 -3,985 -5,184 -6,227
-992
-962
-179
-1
-7
-180
-1
-6
-205
-1
-7
-199
-1
-5, 965 -6, 854
-232
-205
-204
-200
-8, 592
-285
-216
-9, 994
-295
-210
-4, 682
-159
-236
-4, 651
-182
-255
-5, 137
-187
-269
-5,217 -2, 974 -3, 017 -4, 069 -4,893
-176
-580
-484
-651
-538
-260
-313
-192
-238
-186
-805
-59
-65
-804
-29
-63
-12
-14
(*)
-9
-15
(*)
-8
-19
(*)
-678
-92
-21
-1,070
-105
-30
-820
-117
-66
-900
-136
-10
-900
-126
-142
-955
-127
-153
-1,042
-137
-163
-1,145
-143
-166
-62
-11
-14
-58
-15
-15
-60
-19
-16
-70
-23
-19
-21
-23
-22
-2
-23
-25
-3
-25
-28
-4
-26
IS
1C
2C
(*)
(*)
-1
(*)
-1
(*)
-235
-74
-272
-65
-313
-89
-402
-99
-177
-13
-194
-16
-234
-17
-387
-18
-130
-29
-128
-29
-164
-37
-233
-78
-10
-6
-12
-8
-13
-7
-24
-8
21
25
-1,340 -1,727
-1,339 -1,727
662
662
919
919
993
993
780
780
25
24
(
ls
-1
n
27
27
21
21
22
22
62
62
1,744
1,744
1,041
1,041
433
433
98
98
1,509
1,437
1,554
1,490
1,772
1,708
1,803
1,766
-882
-882
-555
-555
-18
-18
-20
-20
-31
-31
-21
-21
8
8
12
12
-20
-20
-70
-70
-504
-432
-492
-428
-513
-449
-478
-441
-32
-32
-32
-32
-35
-36
-36
-36
-16
-16
-20
-20
-19
-19
-22
-22
2t
2(
-9
-10
-11
-11
39
46
17
-29
-37
-41
(*)
-9
(*)
-9
-27
(*)
(*)
-9
-18
-34
-28
1
(*)
-8
-15
-31
-181
-37
-221
-40
-17
-3
-7
-161
-64
-254
-35
-13
-15
-6
-147
-64
-248
-32
-23
-6
-5
-135
-72
-265
-32
-23
-5
-5
-4
-3
-3
21
2£
2£
3(
9
1
-9
41
1,753
1,053
413
28
-587 -1,376 -1,763
31
9
-16
-3
-14
-1,558
-1,402
-1,446
-2,191
-1,152
-922
269
^91
-408
-1,007
226
11
-625
-949
230
-3
-619
-1,270
230
-82
-7
15
(*)
1,006
1,063
1,259
1,325
-915
-1,008
-917
-376
365
-308
-68
19
2
-296
-140
56
-13
-677
-144
30
-73
-344
-32
24
-65
-641
(
*l4
974
758
-562
7
-593
-311
-272
-185
-71
-32
-4
6
10
-34
-14
4
-5
-78
-3
6
6
-63
-9
6
-294
-168
-364
-169
24
18
2
12
-9
22
1
3C
34
Zt
3f
646
899
-153
3^
—7
-3
(*)
-3
6
-12
33
49
-101
14
-1
64
20
-286
-50
-197
-212
-253
181
-182
47
85
119
266
146
-576
58
41
34
-228
-127
-17
58
11
34
-21
53
3
37
38
-6
(*)
(*)
(*)
-8
-33
108
-39
-98
-98
-64
-77
-107
1
-39
-104
-46
79
-132
-134
43
3
-3
-33
-50
(*)
-23
-13
-26
4
-22
_2
10
-23
-9
-1
4
39
40
19
19
10
32
-1
-33
24
-4
-365
-429
-681
-554
-48
2
101
6
-49
-146
-168
-44
41
3
-11
14
-20
12
-10
16
-1
-31
-2
-4
-3
-5
2
-672
35
-748
50
-992
20
-876
3
-112
i
-109
-4
-133
-12
-140
16
-65
(*)
-175
(*)
-224
-2
-115
-3
42
43
17
16
18
26
254
18
269
(*)
289
3
316
2
65
115
146
100
130
16
30
58
(*)
74
44
45
44
65
44
56
2
1
46
44
65
44
56
2
1
47
48
49
50
12
5
3
(*)
(*)
(*)
(*)
1
(*)
(*)
13
40
-48
8
-1
31
-202
-145
-50
-200
-150
-50
-2
5
99
796
2
243
17
312
(*)
-13
54
(*)
4
4
1,292
1
683
833
815
-150
170
1,005
561
99
50
25
171
51
-26
486
1
243
197
(*)
17
67
191
-3
115
351
-10
186
95
11
165
-332
-24
4
195
-2
2
246
60
2
214
-34
5
2
(*)
18
-1
15
31
8
17
61
15
-1
52
53
54
3
87
-7
25
-7
-31
3
27
18
5
14
55
30
2
37
(*)
25
11
38
-2
41
(*)
-9
-2
12
3
17
55
56
37
-13
34
46
57
58
(*)
28
(*)
-21
29
59
60
-368
-326
57
61
-815
62
63
1,239
(*)
(*)
(*)
-12
i
-51
200
-35
1,050
-16
-175
-126
-24
-27
12
4
-5
-4
22
(*)
(*)
(*)
-110
-65
24
204
-343
88
-112
1,194
(*)
-179
-41
263
-18
538
3
928
(*)
-323
-108
1
707
52
469
(*)
-1,662
-784
-233
-899
-961
-754
-700
-71
223
-390
-26
-261
8
o
10
(*)
26
-67
-91
-269
-181
871
-45
-310
-559
-1,254
691
976
1,113
263
1,789
5
-386
-532
-648
SUKVEY OF CURRENT BUSINESS
56
June 1970
Table 8.—U.S. International
[Millions
Other countries in Asia and
Africa
Line
International ogranizations
and unallocated l
United Kingdom
(Credits +; debits -)
1966
1967
1968
1966
1969
1967
1968
1969
1969
I
1
2
Exports of goods and services
Excluding transfers under military grants.- -
3
4
5
6
Merchandise, adjusted, excluding military
Transfers under military sales contracts
Transfers under military grants, net
Trans port at ion
7
8
9
10
Travel
Fees and royalties from direct investments
Other private services
Other U S Government services
11
12
13
Income on U.S. investments
aboard:
Direct investments 2 ...
_. _ . . ..Other private assets
U.S. Government assets
14
-
-
. .-
Imports of goods and services
15
16
17
Merchandise adjusted, excluding military
Military expenditures
Transportation
18
19
20
Travel
Private payments for other services
U.S. Government payments for other services-
21
22
...
7,820
7,243
8,299
7,871
9,021
8,641
9,541
9,121
4,645
128
577
449
4,890
120
429
479
5,071
306
380
504
5,014
457
420
533
48
94
154
146
50
114
235
154
53
110
244
165
69
121
255
163
11
107
9
111
1,238
131
210
1,449
148
233
1,730
185
272
1,997
232
280
28
49
1
57
53
1
-5,104 -5,627 -6,577 -7,296
-801
-792
-752
—3 055 —3 064 —3 782 —4 263
-1,323 -1,779 -1,913 -2, 058
-239
-260
-237
-274
— 140
— 162
-52
-445
-423
-472
447
447
252
452
452
221
471
471
767
767
II
1970
III
IV
IP
817
817
969
969
942
942
1,103
1,103
962
962
396
85
499
65
584
31
236
62
528
71
(*)
86
102
603
72
(*)
75
17
116
20
133
7
41
43
4
10
46
43
4
17
49
43
4
9
50
43
4
9
45
47
6
48
61
1
298
79
1
105
43
31
81
49
51
80
48
35
61
53
133
89
49
30
228
73
-820
-822 -1,211 -1,290 -1,221 -1,119
-530
-378
-60
-94
-608
-46
-154
-561
-49
-153
-565
-53
-115
-533
-65
-112
-108
-98
-16
-59
-3
-71
-59
-4
-101
-57
-3
-41
-59
-4
-19
-62
-3
-204
-132
—14
-228
-135
—15
-249
-153
— 17
-245
-105
(*)
-99
Income on foreign investments
in the United States:
Private payments 2
U.S. Government payments .
. ..- . . .
-105
-33
-129
-43
-164
-61
-213
-74
-35
-77
-36
-72
-41
-80
-84
-108
-203
-9
-260
-9
-358
-8
-375
-8
-316
-9
23
24
Balance on goods and services (lines 1 and 14)
Excluding transfers under military grants (lines 2 and 14)
2,717
2,139
2,672
2,244
2,444
2,064
2,245
1,825
-354
-354
-340
-340
-281
-281
-53
-53
-4
-4
-242
-242
-347
-347
-118
-118
-156
-156
25
26
Unilateral transfers, net; transfers to foreigners ( — )
Excluding military grants -
-2,477 -2,454 -2,172 -2,234
-1,900 -2,025 -1,792 -1,814
-71
-71
-115
-115
-125
-125
-135
-135
-10
-10
-12
-12
-11
-11
-11
-12
-9
-9
27
28
29
30
Private remittances
_. _. - - ...
Military grants of goods and services
Other U.S. Government grants _
U.S. Government pensions and other transfers
-399
-457
-281
-449
— 577
—380
420
—429
-1,530 -1,402 -1,277 -1,251
-89
-167
-116
-115
-3
-4
-2
-2
-5
-111
(*)
-123
-134
-7
(*)
-4
-67
-1
-7
(*)
-138
"7
...
31
Balance on goods, services, and unilateral transfers (lines 23 and 25,
or 24 and 26) .
32
Transactions in U.S. private assets, net; increase in assets(— ) .
47
48
49
5G
51
52
53
54
-455
-4
-165
-406
-188
-909
-699
70
-314
-379
-362
-294
-55
-102
139
-806
-468
-176
22
2
-415
-179
41
14
71
-80
28
51
-150
-246
68
13
-191
-390
187
15
-316
-164
88
31
-150
-63
-77
5
-288
5
-32
1
-66
1
-29
3
-46
4
-11
Claims reported by U.S. banks:
Long-term
Short-term . - _ . . . . _ . . .
-17
-27
-72
-66
-144
-40
96
-184
(*)
(*)
(*)
(*)
(*)
1
-10
13
-17
(*)
-38
-1
-35
-1
-10
Claims reported by U.S. residents other than banks:
Long-term
Short-term
-8
-10
-27
-57
-30
-71
-68
-3
(*)
(*)
(*)
(*)
-28
-80
7
70
2
39
15
199
-293
-206
-- .
Transactions in U.S. Government assets, excluding official reserve
assets, net; increase in assets (—)
5
-1,239 -1,347 -1,285 -1,316
Loans and other long-term assets
-1,088 -1,780 -1,681 -1,748
Foreign currencies and other assets
-341
42
88 —(V)—
128
Repayments on credits:
Scheduled
Nonscheduled, including sales of foreign obligations to foreigners
Transactions in U.S. official reserve assets, net; increase in assets (— ) Gold
SDR
Convertible currencies
_
Gold tranche position in IMF
Transactions in foreign assets in the United States, net; increase in
foreign assets (U.S. liabilities) (+)
Direct investments 2
U.S. securities other than Treasury issues
Long-term liabilities reported by U.S. banks. -
57
58
Other liabilities reported by U.S. private residents other than
banks:
Long-term.
Short-term
Nonmarketable liabilities of U.S. Government, including mediumterm securities and long-term obligations payable prior to maturity only under special conditions:
Associated with specific transactions
Other medium-term securities and long-term obligations
59
60
U.S. Treasury marketable or convertible bonds and notes
Deposits and money market paper held in the United States
55
56
-424
-5
-129
-429
-212
25
-23
39
40
46
11
-4
-359
-861
37
38
44
45
272
-5
-254
-373
Direct investments 2 _
Foreign securities newly issued in the United States
Redemptions
.
.
Other transactions in foreign securities
42
43
218
-4
-14
-238
-121
23
24
33
34
35
36
41
240
>7
-114
-48
-43
-44
-1
-29
87
-15
-119
-53
-48
-86
-1
-42
-3
-10
-20
-40
-10
-5
5
5
5
5
43
41
3
84
84
188
1
305
1
328
26
3-9
49
200
432
-33
500
46
49
200
432
-33
-37
140
537
QA
352
1
964
933
358
-124
1
19
416
-1
122
439
-2
129
270
1
72
-505
(*)
-13
(*)
26
2
12
7
7
87
(*)
-7
20
28
183
44
-70
-116
-42
-1
456
17
317
12
-275
-3
323
-429
85 (
-81
-67
-86
251
124
(*)
128
64
(*)
-815 -1,044
55
(*)
132
138
-65
505
1,459
138
-65
505
1,459
474 -1,072
-957
-10
-870 —1,034
213
130
28
(*)
-139
194
3,411
389
2,867
379
127
32
67
(*)
-41
17
13
103
-39
23
-9
37
10
326
128
1
12
8
-14
-18
29
19
54
-29
19
66
-8
-23
(*)
-51
-37
-21
19
2,736
-35
3,512
-57
72
(*)
318 -1, 098 -1,420
2,613
3,493
278
-341
-319
-2,599 -3,238
81
470
483
(*)
6
-123
61
Balance on transactions in U.S. and foreign liquid and nonliquid assets, including reserves (lines 32, 41, 46, and 51)
Allocations of special drawing rights (SDR) 3
Errors and omissions, and transfers of funds between foreign areas,
net; receipts by foreign areas (— ).
62
63
http://fraser.stlouisfed.org/
SeeBank
footnotes
end of table.
Federal Reserve
of St.atLouis
-599 -1,075 -1,404 -2,172
358
856
1,132
2,161
489
-65
-381 -1,029 -1,060
836
1,435
1,248
SURVEY OF CURRENT BUSINESS
June 1970
57
Transactions, by Area—Continued
of dollars]
I
1969
1970
1969
Eastern Europe
Other Western Europe
European Economic Community
Canada
1969
1970
1970
1969
II
III
IV
IP
1,040
943
1,220
1,125
1,145
1,040
1,220
1,212
1,288
1,250
49
49
71
71
78
78
98
98
102
102
2,893
2,893
1,996
42
(*)
119
582
40
97
103
737
45
95
142
649
37
105
151
783
52
8
136
853
35
38
138
41
63
64
85
92
2,235
8
1
2
2
2
2
34-
40
45
42
33
85
68
5
28
70
75
8
15
26
31
14
18
27
32
20
24
24
32
17
26
26
33
17
21
23
33
17
5
185
61
44
1
230
65
44
1
275
70
44
2
125
72
46
2
125
32
20
120
38
18
241
41
21
74
28
33
48
31
25
49
31
25
75
34
30
70
31
28
1
2
2
1
165
160
(*)
189
191
(*)
172
174
(*)
235
207
(*)
248
192
(*)
11
12
13
-2,584
-2,357
-2,330
-830
-1,238
-1,192
-1,078
-1,093
-596
-60
-145
-571
-72
-152
II
III
IV
lv
1,839
1,839
2,430
2,431
2,344
2,344
2,540
2,540
2,639
2,639
1,315
112
(*)
103
1,849
104
(*)
141
1,702
120
-1
157
1, 995
59
(*)
118
23
69
67
6
36
74
69
6
46
70
66
7
105
28
12
104
32
17
-1,711
-2,575
I
I
II
IV
III
4
4
I
IP
(
15
16
17
-50
-16
-15
-54
-15
-12
(
-6
(*)
-2
-11
-1
-2
-2
-114
-55
-139
-64
-157
-66
-172
-77
-182
-57
-122
-26
-131
-24
-143
-20
-169
-27
-186
-31
(*)
(*)
(*)
(*)
(*)
(*)
128
129
-145
-144
-241
-240
183
184
309
309
211
113
-18
-113
-47
-152
142
134
195
157
1
1
4
4
13
13
43
43
29
29
8
7
-1
-1
1
1
1
7
7
-157
-60
-176
-81
-165
-60
-65
-57
-96
-58
-4
-4
-6
-6
-5
-5
-6
-6
-6
-6
31
24
1
(*)
-24
24
(*)
(*)
-24
30
(*)
(*)
-23
-36
-97
-5
-19
-38
-95
-23
-20
-36
-105
-3
-21
-33
-8
-5
-20
-34
-38
-5
-19
-2
-3
-3
-3
-3
223
23
(*)
(*)
-24
-1
2
-2
-1
(*)
-2
-1
-2
-1
_2
136
-145
-240
184
316
54
-194
-212
77
99
-4
-2
8
38
23
3
-5
-12
-9
27
-10
-45
3
29
-76
(*)
-58
(*)
3
30
-93
(*)
-27
-90
(*)
1
33
-4
44
-1
-99
18
-28
10
-37
-25
51
6
7
-10
-29
48
4
-6
-11
18
-15
13
79
-16
-97
-6
27
-65
-47
2
10
-49
1
-9
2
4
28
1
31
-11
21
-17
(>)
(
\
77
(*)
5
6
8
9
10
14
-185
-13
-13
-145
190
67
49
1
-68 -2, 289 -2, 571 -2, 330 -2,804 -2, 556
-77
-76
-78
-65
-61
(*)
2
-43
-55
-58
-55
-47
-110
-12
-12
2
38
3
4
5
6
-49
(*)
-2
-47
-15
-13
-26
2,239
6
-49
(*)
—2
-45
-26
-16
-469
(*)
7
44
2,412
19
-57
-69
-25
-16
-380
2,129
9
-44
(*)
-218
-24
-20
286
2,403
10
-73 -2,631 -3,074 -3,112 -3,231 -2,936
-127
-23
-17
313
1
2
-54
-40
-23
-17
-244
-14
2
47
3,029
3,029
-65
-685
-59
-205
-197
3,159
3,159
-67
-425
-62
-120
-626
2,919
2,919
-49
-1,535
-294
-175
-445
3,173
3,173
1
5
-1,537
-301
-159
-67
IP
1
6
-1, 562
-300
-237
-273
(*)
5
69
IV
1
1
(*)
-1, 708
-281
-216
(
III
4
1
-1,023
-290
-150
(*)
II
4
1
(*)
(*)
-566
-66
-186
(*)
't
*!2
(*)
(*)
(*)
-1
(*)
-2
-70
-35
-2
-217
-33
-3
-495
-33
-3
-118
-34
-3
-77
-36
-3
18
19
20
(*)
(*)
-87
-27
-95
-23
-105
-24
-116
-25
-125
-30
21
22
263
263
99
99
-193
-193
-71
-71
93
93
23
24
-18
-18
-23
-23
-29
-29
-12
-12
25
26
10
-8
-13
-19
-1
-10
-10
-10
-10
-11
27
28
29
30
263
82
-216
-101
81
31
32
4
3
(*)
(*)
-5
2
-4
(*)
(*)
(*)
2
(
*16
(*)
-9
(*)
-6
-778
-408
-348
-657
12
32
-166
-382
35
27
-82
-211
60
-135
-154
-420
40
-11
-217
-257
95
37
-138
-318
70
11
33
34
35
36
28
-149
2
-57
-5
105
-5
-185
2
174
37
38
-13
-158
-15
31
-18
115
-31
-95
(*)
211
39
40
-1
(*)
-4
41
(*)
-3
-3
42
43
2
44
45
4
-189
9
-1
-23
-52
-5
-1
-46
5
8
14
5
3
-4
1
-25
1
-41
3
-40
-9
-20
12
-22
2
-49
-91
-4
-48
2
-44
(*)
-75
-7
-5
4
2
7
-1
2
-3
3
-10
5
-3
-1
-3
4
7
18
24
36
6
2
13
5
8
(*)
Line
1970
3
16
-155
18
(*)
n
33
19
(*)
43
(*)
(*)
-11
-7
-254
-100
26
-16
-9
-221
-4
2
-33
(*)
-96
(*)
-428
230
2,008
555
12
22
-1
10
30
1
59
251
2
26
15
27
10
-23
12
59
-35
-6
-45
12
-32
(*)
-10
(*)
39
-556
76
112
2
1,702
1
574
-12
-174
-379
26
-275
(*)
-500
(*)
-101
(*)
101
(*)
-379
(*)
611
(*)
-532
(*)
-58
(*)
-1,073
1,687
2,817
-1,764
835
288
28
382
(*)
161
213
(*)
28
367
(*)
145
430
-1
-18
80
14
20
505
-10
76
10
49
-1
109
72
158
119
30
-9
62
-55
-54
125
-66
124
-6
-100
294
75
-19
-542
-19
-20
-50
-1,589
-49
1,255
(*)
2,347
-217
-2,768
-126
1,425
30
-225
-532
41
(*)
-32
-75
111
39
4
(*)
5
(*)
(*)
20
(*)
(*)
2
-13
(*)
1
(*)
(*)
(*)
(*)
5
-1
891
2,052
-1,358
-78
207
-636
245
1,743
364
-5
8
23
1,096
-745
-1,812
1,174
-238
-260
830
-33
-1,820
-464
8
-6
-31
8
-38
(*)
46
47
48
49
50
521
-98
314
555
-12
51
143
161
(*)
71
40
(*)
32
-16
(*)
-3
12
(*)
142
-57
(*)
52
53
54
1
-53
-4
5
1
-5
-5
22
2
-19
55
56
1
19
-250
-4
-32
75
-1
300
57
58
-16
4
264
(*)
22
2
303
-118
605
-1
-378
59
60
-22
-259
-503
-35
-102
-4
-1
-4
421
251
203
-76
61
62
63
-16
(*)
(*)
8
(*)
2
(*)
-1
(*)
2
(*)
-1,232
7
9
5
2
-1
(*)
(*)
(*)
SURVEY OF CURRENT BUSINESS
58
June 1970
Table 8.—U.S. International
[Millions
Latin American Republics and other
Western Hemisphere
Line
(Credits +; debits -)
1969
1
2
3
4
5
6
Japan
Exports of goods and services.
Excluding transfers under military grants
Merchandise, adjusted, excluding military. _
Transfers under military sales contracts. _ _
Transfers under military grants, net
Transportation
. ....
1970
1969
I
II
III
IV
IP
1,928
1,917
2,531
2,522
2,419
2,411
2,490
2,482
2,452
2,445
1,066
8
11
91
1,518
6
10
123
1,420
9
8
135
1, 528
7
8
117
I
1970
II
III
IV
IP
920
820
1,107
1,107
1,161
1,161
1,313
1,313
1,381
1,381
1,499
10
6
125
691
4
(*)
54
856
4
1,047
5
( }
73
909
5
(*)
72
* 64
1,105
6
(*)
62
7
8
9
10
Travel __
...
Fees and royalties from direct investments. .
Other private services
Other U.S. Government services
178
46
72
17
224
68
75
20
212
60
76
16
193
65
75
18
198
55
78
17
13
12
53
3
17
14
52
12
19
12
52
4
18
12
53
6
21
16
58
4
11
12
13
Income on U.S. investments
abroad:
Direct investments 2
Other private assets. _ .
U.S. Government assets
305
102
33
327
117
43
339
114
30
305
129
47
303
125
34
23
58
8
9
63
9
13
68
7
26
75
8
27
76
7
14
Imports of goods and services
. .
.....
-1,807
-1,948
-1,870
-1,941
-2,181
-1,192
-1,642
-1,738
-1,655
-1,607
15
16
17
Merchandise, adjusted, excluding military
Military expenditures. _ ._
Transportation
....
-1,201
-51
-71
-1,376
-43
-81
-1,271
-41
-86
-1,369
-42
-76
-1,515
-42
-77
-898
-152
-54
-1,314
-160
-67
-1,386
-162
-72
-1,295
-178
-68
-1, 265
-157
-66
18
19
20
Travel
Private payments for other services
U.S. Government payments for other services
-330
-34
-41
-278
-38
-38
-281
-38
-45
-256
-33
-43
-344
-36
-41
-11
-6
-4
-20
-6
-5
-24
-6
-15
-6
-5
-12
-6
21
22
Income on foreign investments in the United States:
Private payments 2
_ ..
U.S. Government payments
-75
-6
-89
-5
-105
-4
-118
-3
-123
-3
-48
-20
-51
-20
-66
-17
-68
-21
-72
-25
121
110
584
574
549
541
549
541
271
264
-273
-273
-535
-535
-577
-577
-342
-343
-226
-226
-109
-98
-138
-128
-108
-100
-123
-115
-117
-111
-8
-8
-9
-9
-9
-9
-10
-10
-9
-9
-40
-11
—47
-11
-47
-10
—71
-11
-48
-8
—43
-9
-46
-8
—60
-9
-48
-6
—52
-11
-6
(*)
-7
-2
-7
(*)
(*)
-7
(*)
2
-7
(*)
(*)
-2
-545
-586
-352
-235
-284
-74
-274
98
-43
—2
-24
23
24
Balance on goods and services (lines 1 and 14)
Excluding transfers under military grants (lines 2 and 14) . .
25
26
Unilateral transfers, net; transfers to foreigners (—).__
Excluding military grants
27
28
29
30
Private remittances. _
Military grants of goods and services
Other U.S. Government Grants
U.S. Government pensions and other transfers
-2
31
Balance on goods, services, and unilateral transfers (lines 23 and 25, or 24
and 26)
12
445
441
426
154
-281
32
Transactions in U.S. private assets, net; increase in assets (— )
41
-209
-33
-174
-211
39
-95
-16
9
-30
-173
-4
5
-17
-164
-1
3
-22
88
-11
7
5
-111
-2
15
-7
-29
11
—9
-12
-94
3
-97
3
-92
13
33
34
35
36
Direct investments 2
_
Foreign securities newly issued in the United States
Redemptions
Other transactions in foreign securities
37
38
Claims reported by U.S. banks:
Long-term
_.
Short-term
39
99
5
-19
-3
94
6
-89
-7
-30
8
61
13
-171
8
59
5
-177
1
156
39
40
Claims reported by U.S. residents other than banks:
Long-term
Short-term..
. .
7
27
4
-9
25
35
-170
-10
-11
-58
3
7
-17
-17
-1
-3
2
-13
-11
-38
41
Transactions in U.S. Government assets, excluding official reserve assets,
net; increase in assets (— ) . .
42
43
Loans and other long-term assets.
Foreign currencies and other assets
44
45
Repayments on credits:
Scheduled
..
Nonscheduled (including sales of foreign obligations to foreigners)
46
47
48
49
50
51
52
53
54
Transactions in foreign assets in the United States, net; increase in foreign
assets (U.S. liabilities) (+)
Direct investments
.
U.S. securities other than Treasury issues
Long-term liabilities reported by U.S. banks
59
60
U.S. Treasury marketable convertible bonds and notes
Deposits and money market paper held in the United States
62
63
-169
-163
-133
29
-8
5
-20
52
-236
-2
-251
-211
-1
-29
9
-47
4
-30
3
-34
(*)
-54
-1
71
86
2
70
90
79
49
36
33
14
25
81
7
15
22
7
7
15
22
7
-106
173
246
93
-26
3
1
-5
1
-4
-6
1
-19
4
11
10
(*)
-2
Gold.
SDR
Convertible currencies
Gold tranche position in IMF
57
58
61
-131
-224
6
Transaction in U.S. official reserve assets, net; increase in assets (-)
Other liabilities reported by U.S. private residents other than banks:
Long-term
Short-term ...
Nonmarketable liabilities of U.S. Government, including mediumterm securities and long-term obligations payable prior to maturity
only under special conditions:
Associated with specific transactions
Other medium-term securities and long-term obligations
55
56
-93
-164
1
Balance on transactions in U.S. and foreign liquid and nonliquid assets,
including reserves (lines 32, 41, 46, and 51)
Allocations of special drawing rights (SDR) 3
Errors and omissions, and transfers of funds between foreign areas, net;
receipts by foreign areas (— ) ...
http://fraser.stlouisfed.org/
3
Preliminary.
* Less than $500,000 (±).
Federal Reserve Bank of St. Louis
^
151
82
-8
590
307
247
10
55
-17
-24
68
-119
4
-35
-154
21
77
-42
-10
20
-42
10
1
9
35
7
-6
-11
6
-6
-9
22
y
6
-5
-1
3
22
-2
-3
1
117
-3
127
2
141
3
543
1
343
(*)
228
(*)
-111
(*)
169
52
183
121
106
-258
-195
275
-30
315
-398
104
-48
243
-118
-188
-247
-702
-123
-33
942
481
399
-7
(*)
(*)
(*)
10
-13
1
1
(*)
14
(*)
1. Includes transactions with shipping companies operating under the flags of Honduras,
SUEVEY OF CUEEENT BUSINESS
June 1970
59
Transactions, by Area—Continued
of dollars]
1970
1969
I
II
III
1969
IP
IV
International Institutions and Unallocated 1
Other countries in Asia and Africa
Australia, New Zealand and South Africa
I
II
1970
III
1969
IP
IV
I
II
Line
1970
III
IV
IP
417
417
527
527
529
529
575
575
564
564
1,869
1,781
2,689
2,567
2,319
2,284
2,663
2,488
2,547
2,442
151
151
164
164
137
137
315
315
134
134
250
39
354
32
360
16
390
16
354
18
18
26
26
23
25
862
95
88
95
1,564
109
122
152
1,233
144
35
147
1,355
109
175
139
1,366
133
105
141
46
61
63
66
53
6
18
24
8
21
24
13
15
23
9
30
23
8
21
25
10
24
63
39
15
33
63
45
25
29
64
39
19
36
65
40
15
25
67
35
5
33
5
33
5
33
5
33
4
37
59
14
11
100
11
2
475
55
63
461
54
73
473
62
69
589
62
75
514
67
79
42
24
1
52
13
7
28
197
13
10
29
1
1
11
1
12
1
13
(*)
50
11
1
(*)
(*)
(*)
(*)
37
14
10
63
11
1
(*)
9
1
10
-250
-325
-376
-317
-332
-1,577
-1,898
-1,931
-1,891
-1,855
-144
-174
-233
-268
-213
1
14
-198
-11
-18
-274
-10
-20
-318
-10
-23
-265
-11
-19
-275
-12
-20
-877
-495
-55
-1, 146
-511
-72
-1, 126
-528
-81
-1, 114
-524
-66
-1,102
-502
-69
-100
-130
-128
-172
-135
1
15
1
16
1
17
-9
-1
-7
-5
-1
-6
-7
-1
-8
-7
-1
-6
-10
-1
-5
-25
-60
-36
-4
-60
-56
-4
-61
-36
-4
-64
-28
-5
-61
-5
-1
-50
-43
-12
1
18
1
19
20
2
-5
—2
-6
—2
-7
_2
-6
-2
-6
2
-45
-17
-49
-19
-55
-19
-65
-19
-70
-18
-14
-25
-18
-26
-28
-28
-24
-29
-32
-33
2
21
2
22
167
167
202
202
154
154
258
258
232
232
293
204
792
670
388
354
772
597
692
587
7
7
-10
-10
Qg
-96
46
46
-79
-79
2
23
2
24
-6
-6
-5
-5
-6
-6
-5
-5
-5
-504
-416
-685
-563
-450
-415
-595
-420
-592
-487
-36
-36
-58
-58
-11
-11
-30
-30
-34
-34
25
2
2
26
-5
-4
-5
-4
-4
-103
-88
-286
-27
-118
-122
-417
-28
-115
-35
-270
-30
-113
-175
-278
-30
-141
-105
-318
-28
-35
-1
^
-1
-1
-1
A
-1
-1
(*)
(*)
-11
-58
(*)
-30
-34
2
27
2
28
2
29
3
30
161
197
148
253
228
-212
107
-61
177
100
-29
-68
-107
16
-113
3
31
6
-17
-IS
-41
-86
-186
-521
10
-1
-269
-84
-56
-56
-165
20
32
3
-25
-29
-35
-64
-111
2
4
-247
-53
5
-6
-73
-32
12
2
112
-47
13
1
-198
-47
7
I
-46
-115
56
20
-28
-49
15
5
-173
15
-3
-207
-47
11
17
-70
3
2
49
-49
20
1
3
33
34
3
3
35
3
36
11
17
23
-18
12
9
7
-5
31
-13
40
5
-14
-173
51
54
19
-70
7
-28
(*)
(*)
(*)
(*)
-1
3
3
-3
2
3
2
-1
-9
9
1
2
-12
8
-37
3
-18
14
-1
-28
-15
6
(*)
(*)
(*)
(*)
4
(*)
(*)
7
7
-37
2
-28
20
-15
-276
-514
-249
-278
-312
-10
-24
-40
1
-26
-3
-29
-2
-21
(*)
-19
1
-580
223
-487
-111
-308
-31
-373
7
-450
22
-12
-24
2
31
2
40
3
80
1
83
1
90
99
s _ii
110
6
3
1
-3
-25
-9
4
-23
-32
1
-3
-25
-9
4
-23
-1
140
9
11
39
12
-9
2
-3
-2
7
9
(*)
-86
107
27
-203
-162
-42
283
474
-16
-14
61
8
-17
3
-1
-9
3
21
-60
-2
17
-87
1
27
-212
-1
7
-146
-1
12
-129
3
8
2
39
-6
-6
8
-34
3
2
11
-10
64
-45
-27
-15
-4
-13
196
-2
454
1
598
9
3
4
5
7
26
-7
-3
(*)
-72
22
37
-2
-176
1
-151
110
-6
-133
86
-74
-668
-1,222
-290
8
-130
-271
-191
-15
-338
-153
879
1,115
351
-185
30
(*)
82
(t)
(*)
(*)
(<)
http://fraser.stlouisfed.org/
2. Excludes undistributed profits of subsidiaries.
3. Negative
entry
repurchase of foreign obligations previously sold.
Federal Reserve
Bank
of reflects
St. Louis
(*)
10
-2
3
3
39
4
40
-12
-29
4
-12
-32
4
4
3
-229
-241
-1
-542
-8
3
4
44
4
45
-1197
4
46
-24
-920
4
4
4
5
-31
-228
-233
-542
-253
75
66
150
S8
211
5
100
20
5
5,
5'
-24
28
187
-1
(*)
76
90
(*)
(*)
140
10
5,
5(
(*)
57
58
-1
-110
79
8
54
312
«M
252
-1
-51
605
NOTE.—Details may not add to totals because of rounding.
Source: U.S. Department of Commerce, Office of Business Economics.
-1
92
59
60
-9S5
867
61
62
241
63
SURVEY OF CURRENT BUSINESS
60
June 1970
Table 9.—Changes in Reported Foreign Gold Reserves, SDR Holdings (Excluding Allocations), and Liquid Dollar Holdings Through Known
Transactions With the United States and Through Other Transactions, by Area l
[Millions of dollars]
1960
Line
1961
1962
1963
1964
1965
1966
1967
19 69
1968
1970
1969
I
II
III
IV
IP
7,321
7,220
101
1,413
1,270
143
3,731
3,815
-84
2,902
2,973
—71
-725
-837
112
1,85
1,67
17'
1,192 -1,419
5,582
247 -2, 507 -1,383
945
1,088
6,965
887
-866
1,753
4,154
964
3,190
2,527 —1,986
710 -2,192
1,817
206
1,18
1,00
17
AH areas:
1
2
3
4,246
3,866
380
2,951
2,333
618
2,559
2,146
413
3,500
2,601
899
3,510
2,711
799
1,550
1,215
335
Total increase
3,077
Through known transactions with the United States. .
919
Through other transactions
2 158
2,569
-761
3 330
522
-959
1,481
2,023
77
1,946
2,441
498
1,943
1,165
219
946
1,052
719
333
42
-133
175
-369
268
-637
-250
-36
-214
-91
-37
-54
702
666
36
11
14
-3
-6
6
-12
(*)
18
-18
4
-26
30
-4
-213
209
13
-1
14
13
-36
49
129
-479
608
393
-143
536
281
-350
631
170
-3
173
-302
207
-126 -1,159
857
333
-302
465
—767
225
557
-332
-97
404
—501
595
472
123
380
496
-116
605
618
-13
-257
325
— 582
526
598
-72
289
803
-514
-79
-384
305
82
-166
248
289
-88
377
Total increase
-190
Through known transactions with the United States. _ 1,092
Through other transactions
-1, 282
169
1,043
—874
-224
367
-591
Total increase .
_
. _. _ ___
Through known transactions with the United States
Through other transactions
1,312
1,959
1,215
3,382
97 -1,423
-866
-223
-643
Western Europe, including United Kingdom:
4
5
6
849
528
321
United Kingdom:
7
8
9
Total increase
__Through known transactions with the United StatesThrough other transactions
739
495
244
6,183
899
5,284
2,841
241
2,600
3,612
376
3,236
311
406
-95
-581
-123
—458
-12,
46'
—59
4
-4
8
2
1
1
9
-58
67
-12
-3
n
5
-1
6
8
-23
31
8
-30
38
-r
-282
-467
185
202
-187
389
-407
-485
78
1,095
1,956
-861
270
266
4
27
444
-417
311
557
-246
487
689
-202
-36,
-45(
9:
339
67
272
-247
-179
-68
250
-88
338
550
26
524
980
-278
1,258
121
8
113
121
-62
183
182
-89
271
556
-134
690
32?
22?
10(
249
573
-324
275
396
-121
-322
424
-746
-99
869
-968
726
578
2,310
971
-245 -1, 732
229
194
35
-105
831
-936
177
651
-474
277
635
-358
18?
11<
7'
187
-291
478
-32
-612
580
-65
-585
520
218
-380
598
-18
-504
486
665
-666
1,331
205
-188
393
-104
-195
91
-244
-87
-157
50
-317
367
-ir
119
567
-448
220
629
-409
409
532
-123
459
1,391
-932
377
862
-485
640
226
299
1,300
1,391
2,448
-751 -1,074 -2, 149
-152
-163
940
698
-850 -1,103
189
538
-349
425
272
153
404
60'
-20C
919
709
210
12
429
-417
-140
443
-583
-334
311
-645
706
-50
756
-212 -1,209 -1, 129
623
87
571
-783 -1,832 -1,216
-135
-63
-72
-248
-6
-242
-542
11
-553
188
2
186
294
-481
832
666
-372 -1,313
Eastern Europe:
10
11
12
Total increase
Through known transactions with the United States-Through other transactions
--
-1
Canada:
13
14
15
Total increase
Through known transactions with the United States..
Through other transactions
Latin American Republics and other Western Hemisphere :
16
17
18
Total increase
_
Through known tranactions with the United States..
Through other transactions
Japan:
19
20
21
Total increase
Through known transactions with the United States ..
Through other transactions
Australia, New Zealand, and South Africa:
22
23
24
Total increase
__
Through known transactions with the United States. .
Through other transactions
-93
-784
691
-ft
5,
Other countries in Asia and Africa:
25
26
27
International organizations and unallocated :
28
29
30
Total increase
_.
Through known transactions with the United States 2.
Through other transactions -
995
467
528
p Preliminary.
»• Revised.
1. Total increase represents changes in reported gold reserves and in SDR holdings (excluding allocations) of foreign central banks and governments (including international organizations but excluding the countries of the Soviet bloc) net of convertible currencies included
in U.S. official reserve assets (table 1, line 49), plus changes in foreign liquid claims on the
United States (table 1, lines 59 and 60), plus net changes in IMF positions of foreign countries
through U.S. dollar transactions (table 1, line 50). (All locations of SDR received by foreign
countries on January 1, 1970—not included in these data—were as follows (in millions of dollars): total, 2,547; United Kingdom, 410; Other Western Europe, 894; Eastern Europe, 0;
Canada, 124; Latin America, 330; Japan, 122; Australia, New Zealand, and South Africa,
144; Other countries, 523.)
Changes through known transactions with the United States represents for each of the separate
areas shown the total (with sign reversed) of lines 31, 32, 41, and 52 through 58 in table 8. For
"All areas" line 63 is also included, and for "All areas" and "International Organizations
and unallocated" line 31 is adjusted to exclude net sales or net purchases (—) of gold by U.S.
private residents to the U.S. monetary gold stock, which occurred until such transactions
were discontinued March 17, 1968. Prior to that date, these were (in millions of dollars):
1960, -34; 1962, -57; 1963, -69; 1964, -89; 1965, -118; 1966, -140; 1967, -162; 1968, -52.
-204
144
-348
Changes through other transactions equals "Total increase" less "Changes through known
transactions with the United States". For "All areas" this difference represents known
acquisitions (+) or sales (—) of gold by foreign central banks and governments outside the
United States. The net acquisitions of gold equal the excess of new gold production abroad
plus sales by the Soviet bloc less net gold purchases by others. For each of the separate areas
shown the difference reflects net receipts (+) or payments (—) of gold, SDR. and dollars
resulting from their transactions with countries other than the United States, net
changes in their convertible currencies included in U.S. official reserve assets
resulting from U.S. transactions with other areas, and from unrecorded transactions with
the United States.
2. Includes transactions with shipping companies operating under the flag of Honduras,
Liberia, and Panama.
NOTE.—Details may not add to totals because of rounding.
Source: U.S. Department of Commerce, Office of Business Economics.
U.S. GOVERNMENT PRINTING OFFICE: 1970
O—386-137
CURRENT BUSINESS STATISTICS
J.HE STATISTICS here update series published in the 1969 edition of BUSINESS STATISTICS, biennial statistical supplement to the SURVEY
OF CURRENT BUSINESS. That volume (price $3.00) provides a description of each series, references to sources of earlier figures, and historical data
as follows: For all series, monthly or quarterly, 1965 through 1968 (1958-68 for major quarterly series), annually, 1939-68; for selected series,
monthly or quarterly, 1947-68 (where available). Series added or significantly revised after the 1969 BUSINESS STATISTICS went to press are indicated
by an asterisk (*) and a dagger (f), respectively; certain revisions for 1968 issued too late for inclusion in the 1969 volume appear in the monthly
SURVEY beginning with the September 1969 issue. Also, unless otherwise noted, revised monthly data for periods not shown herein corresponding
to revised annual data are available upon request.
The sources of the data are given in the 1969 edition of BUSINESS STATISTICS; they appear in the main descriptive note for each series, and
are also listed alphabetically on pages 189-90.
Statistics originating in Government agencies are not copyrighted and may be reprinted freely.
Data from private sources are provided through the courtesy of the compilers, and are subject to their copyrights.
1967
Unless otherwise stated in footnotes below, data
through 1968 and descriptive notes are as shown in
the 1969 edition of BUSINESS STATISTICS
1968
1967
1969
I
II
1969
1968
III
IV
I
II
III
| IV
I
11
1970
III
IV
I
942.8
952.2
959.6
579.8
589.5
600.4
89.4
38.3
37.3
Annual total
Seasonally adjusted quarterly totals at annual rates
GENERAL BUSINESS INDICATORS—Quarterly Series
NATIONAL INCOME AND PRODUCT
Gross national product, total
bil $
Personal consumption expenditures, total
do
Durable goods total 9
do
Automobiles and parts
_
_
do
Furniture and household equipment.. _.do__.
Nondurable goods total 9 Clothing and shoes
Food and beverages
Gasoline and oil
Services total 9
Household operation
Housing
- Transportation
-
--do _
-do
do
- -do
-- -- -___
do
do
do
_ _ _ _ -- d o
793 5
492 3
865 7
536.6
932 1
576.0
774 2
480 9
783 5
489 8
800 4
495 7
816 1
502 6
835 3
520 6
858 7
530 3
876 4
544 9
892 5
550 7
908 7
562 0
924.8
572.8
73 0
30 5
31.3
83 3
37.0
34.2
89.8
40.4
36.0
70 0
28 4
30 7
73 5
31 3
31.2
73 3
30 9
31 2
75 2
31 2
32 2
79 5
34 8
33 4
81 8
35 6
33 8
85 8
38 6
35 0
86 3
39 0
34 6
88 4
39 4
35.5
90.6
40.0
36.8
89.8
40.8
35.8
90.4
41.3
35.8
215 1
42 5
108 1
17 7
230.6
46.3
115 0
19.1
243.6
49.9
119.8
21.3
213 2
41 7
107 8
17 3
214 4
42.6
107 6
17 5
215 8
42 9
108 1
17 9
216 8
42.7
108 9
18 1
226 1
45 0
112 6
18 9
228 5
45 6
114 8
18 8
233 3
47 4
116 1
19 5
234 3
47.3
116 4
19 5
238 6
48.1
118 4
20 4
242.1
50.0
119.1
21.0
245.1
50.8
119 9
21.8
248.7
50.8
121.7
22.0
255.4
51.0
125.9
22.8
204.2
29 1
71.8
14.7
222 8
31.2
77.4
16.1
242.6
33.5
83.7
17.5
197 7
28 2
70.1
14 4
201.8
29 0
71.1
14.5
206.6
29 3
72.3
14.8
210.6
30 1
73.7
15.0
215.1
30 5
75.2
15.5
220 0
30 7
76.7
15.9
225.8
31 6
77.9
16.3
230.1
31 9
79.8
16.5
235. 0
32 7
81.3
17.1
240.1
33.1
82.8
17.3
244.9
33.9
84.4
17.7
250.3
34.1
86.4
17.9
255.6
35.0
88.3
18.4
Gross private domestic investment, total
do
116.0
126.3
139.4
113.6
109.4
117.7
123.3
119.4
126.6
125.2
133.9
135.2
137.4
143.3
141.8
135.0
Fixed investment
Nonresident ial
Structures
Producers' durable equipment
Residential structures
Nonfarm
Change in business inventories
Nonfarm
_.
-
do
-do
do
_do._ _
- -.do
do__ _
do_ __
-do
108.6
83.7
27.9
55.7
25.0
24.4
7.4
6.8
119.0
88.8
29.3
59.5
30.2
29.6
7.3
7.4
131.4
99.2
33.4
65.8
32.2
31.7
8.0
7.8
104.7
83.3
29.0
54 2
21.4
20.9
90
9.1
106.1
83.0
27.2
55.8
23.1
22.5
3.4
3.0
109.9
83.5
27.8
55.7
26.5
25.9
7.8
7.0
113.8
85.0
27.8
57.2
28.8
28.3
9.5
8.0
117.7
89.1
29.8
59.4
28.6
28.0
1.6
1.3
116.7
86.4
28.3
58.1
30.3
29.7
9.9
10.3
118.0
88.1
29.0
59.1
29.9
29.4
7.2
7.5
123.4
91.5
30.1
61.4
31.9
31.4
10.5
10.7
128.6
95.3
32.3
63.0
33.3
32.8
6.6
6.6
130.5
97.8
32.1
65.7
32.7
32.2
6.9
6.7
132.5
101.1
34.7
66.4
31.4
30.9
10.7
10.3
134.0
102.5
34.5
68.0
31.6
31.0
7.7
7.4
134.2
104.0
35.6
68.5
30.2
29.7
.8
.4
do
do
- do_
5.2
46.2
41.0
2.5
50.6
48.1
2.1
55.3
53.2
5.4
45.8
40.4
5.8
45.9
40.1
5.6
46.3
40.7
3.8
46.7
42.8
1.9
47.7
45.9
3.4
50.7
47.3
3.6
53.4
49.7
1.2
50.6
49.4
1.5
47.6
46.1
1.6
57.1
55.5
2.7
57.8
55.2
2.7
58.6
55.9
3.0
60.8
57.8
Govt. purchases of goods and services, totaL.do
Federal
__do_ _
National defense
.
.
do
State and local
do
180.1
90.7
72.4
89.3
200.3
99.5
78.0
100.7
214.6
101.9
79.2
112.7
174.2
87.8
69.9
86.4
178.5
90.3
71.9
88.1
181.3
91.3
73.0
90.0
186.4
93.5
74.6
92.9
193.4
96.3
76.1
97.1
198.4
99.0
77.9
99.4
202.5
100.9
78.8
101.7
206.7
101.9
79.3
104.8
210.0
101.6
79.0
108.5
212.9
100.6
78.5
112.3
217.0
103.2
80.3
113.8
218.3
102.3
79.2
116.0
221.2
102.3
78.9
118.9
By major type of product:
Final sales total
Goods, total
. - _ ..
Durable goods
Nondurable goods. - _ _ _
Services
Structures
do
do._ _
do_
do__ _
do.
do
786.2
391.0
157.0
234.1
316.7
78.4
858.4
423.7
171.4
252.3
347.5
87.1
924.1
451.8
186.2
265.6
377.4
95.0
765.2
382.5
151.9
230.7
306.4
76.3
780.2
392.5
158.3
234.2
312.0
75.6
792.6
393.3
157.7
235.5
320.1
79.3
806.6
395.8
160.0
235.9
328.4
82.4
833.6
412.8
166.4
246.5
335.0
85.8
848.8
419.3
168.9
250.4
343.4
86.0
869.2
429.9
173.7
256.1
353.2
86.1
882.0
433.0
176.6
256.4
358.5
90.6
902.1
441.3
181.6
259.7
365.8
94.9
917.9
449.6
185.5
264.1
373.4
94.8
932.0
455.2
187.8
267.4
381.6
95 3
944.5
461.1
189.9
271.2
388.6
94.8
958.9
466.3
190.1
276.2
397.3
95.2
do
do__ .
do.
7.4
3.9
3.5
7.3
5.3
2.0
8.0
5.5
2.5
9.0
4.2
4.7
3.4
1.5
1.8
7.8
4.4
3.4
9.5
5.6
3.9
1.6
1.9
-.3
9.9
6.8
3.1
7.2
5.1
2.1
10.5
7.4
3.1
6.6
4.8
1.8
6.9
4.9
2.1
10.7
7.6
3.1
7.7
4.7
3.0
.8
-1.3
2.1
Net exports of goods and services...
Exports
.
Imports
Change in business inventories
Durable goods
_ Nondurable goods
.
GNP in constant (1958) dollars
bil $
674.6
707.6
727.5
666 5
670.5
678.0
683.5
693.3
705.8
712.8
718.5
723.1
726.7
730 6
729.8
724.3
do
430.3
452.6
466.1
424.4
430.5
431.9
434.3
445.6
449.0
458.2
457.6
462.9
466.2
466.5
468.6
471.7
72.8
190.3
167.2
80.7
196.9
175.0
84.9
199.4
181.8
70.3
190.2
163.9
73.9
190.6
166.1
73.0
190.3
168.6
73.9
190.2
170.3
77.7
196.0
171.8
79.5
195.8
173.7
83.0
198.7
176.5
82.7
197.2
177.7
84.3
199.3
179.3
85.9
199.3
181.0
84.7
199.3
182.5
84.8
199.6
184.2
83.3
202. 8
185.5
100.8
105.7
111.8
100.5
95.7
101.6
105.4
101.2
106.6
104.1
110.9
109.9
110.8
114 3
112.2
104.9
93.9
73.6
20.3
6.9
99.1
75.8
23.3
6.6
104.8
81.4
23.4
6.9
92.0
74.1
17.9
8.5
92.6
73.5
19.0
3.1
94.3
73.1
21.2
7.4
96.7
73.8
23.0
8.7
99.8
77.1
22.7
1.5
97.6
74.0
23.5
9.0
97.7
75.0
22.7
6.4
101.4
77.3
24.1
9.6
104.0
79.4
24.6
5.9
105.0
82.4
22.6
9.3
105.5
82.8
22.7
6.7
104.3
82.8
21.5
.6
3.6
.9
.0
4.0
4.2
4.1
2.0
.9
1.3
1.7
—.2
o
—.5
.4
.5
.9
148.4
149.7
140.0
78.9
76.0
74.8
65.2
69.5
73.7
9 Includes data not shown separately.
137.6
72.8
64.8
140.1
75.1
65.0
140.4
75.5
64.9
141.7
75.7
66.0
145.6
77.3
68.3
148.9
79.6
69.3
148.8
79.2
69.6
150.2
79.4
70.8
150.6
78.3
72.3
150.2
76.3
73.9
149.4
75 5
73.9
148.4
73.9
74.6
146.7
71.2
75.5
Gross national product total
Personal consumption expenditures, total
Durable goods
_
Nondurable goods
Services
_
Gross private domestic investment, total
Fixed investment
Nonresidential
Residential structures _
_
Change in business inventories. _
Net exports of goods and services
do. _.
do
_ do
do
do
do
_ _-do.
_-do
__
..do. .
Govt. purchases of goods and services, total. -do
Federal
do
State and local
...do
r
Revised.
* Preliminary.
104.8
81.0
23.8
6.0
s-1
SURVEY OF CURRENT BUSINESS
S-2
Unless otherwise stated in footnotes below, data
through 1968 and descriptive notes are as shown in
the 1969 edition of BUSINESS STATISTICS
1967
1968
Annual total
1968
1967
| 1969
III
June 1970
IV
I
II
1969
III
IV
I
1970
II
IV
I
780.6
786.5
' 792. 6
592.0
III
II
III
GENERAL BUSINESS INDICATORS—Quarterly Series—Continued
NATIONAL INCOME AND PRODUCT— Con.
Quarterly Data Seasonally Adjusted at Annual Rates
National income, total
bil. $
Compensation of employees, total
Wages and salaries, total.
Private
Military
Government civilian
Supplements to wages and salaries
Proprietors' income, total?
Business and professional 9
Farm
.
Rental income of persons
.
..
Seas. adj. qtrly. totals at annual rates:t
All industries
Manufacturing
Durable goods industries 5 _ _
Nondurable goods industries ^
Nonmanufacturing
Mining
Railroad
.
Air transportation
Other transportation
Public utilities. . . .
Electric
Gas and other
Communication
Commercial and other.
.
771.0
658.5
672.0
688.8
do
do
do
do
__do
do
do
do
do
423.5
337.3
16.2
70.0
43.9
61.9
47.2
14.7
20.8
465.0
369.0
18.0
78.0
48.6
63.8
49.2
14.6
21.2
509.9
405.3
19.2
85.4
54.4
66.3
50.2
16.1
21.6
426.5
339.6
16.1
70.8
44.2
62.6
47.8
14.8
20.9
436.5
346.3
17.0
73.2
45.1
62.3
47.5
14.9
21.0
448.2
355.9
17.3
75.0
47.0
63.2
48.4
14.8
21.1
513.6
564.3
470.7
481.7
495.1
707.4
724.1
737.3
519.8
532.3
459.0
364.5
17.6
76.8
48.0
63.6
49.2
14.3
21.2
470.7
372.7
18.7
79.3
49.1
64.1
49.3
14.8
21.2
482.1
382.8
18.3
80.9
50.2
64.1
49.7
14.4
21.4
507.0
751.3
765.7
546.0
558.2
571.9
581.1
493.3
392.5
18.2
82.5
52.7
64.6
49.7
14.9
21.5
504.3
402.0
18.4
84.0
53.8
66.5
50.1
16.4
21.6
516.9
410.2
20.1
86.6
55.0
67.3
50.5
16.8
21.7
525.0
416.6
19.9
88.5
56.1
66.7
50.4
16.3
21.8
534.9
422.3
"20.8
"91.8
57.1
66.6
50.1
16.5
22.0
79.2
87.9
88.2
79.1
81.1
82.5
88.2
90.6
90.3
89.5
89.2
88.8
85.2
'79.7
10.5
68.8
39.0
18.1
20.9
11.5
76.4
44.4
19.9
24.5
12.9
75.3
43.9
20.4
23.5
10.5
68.6
38.3
18.0
20.4
10.8
70.3
39.5
18.3
21.2
11.0
71.6
41.1
19.1
22.0
11.2
76.9
44.9
19.8
25.1
12.1
78.5
45.4
20.4
25.0
11.9
78.5
46.2
20.4
25.8
12.3
77.2
45.1
20.3
24.7
12.7
76.5
44.9
21.0
23.9
13.3
75.6
43.8
20.0
23.8
13.3
71.9
41.7
20.1
21.6
13.2
'66.5
37.4
19.7
17.7
10.8
19.0
11.6
20.4
11.7
19.7
10.8
19.5
10.9
19.9
11.3
19.1
ll.fi
20.6
12.0
21.0
11.6
20.7
11.8
20.3
11.7
19.9
11.9
19.9
11.4
18.8
10.7
18.4
80.3
33.0
47.3
21.5
25.9
—1.1
24.7
91.1
41.3
49.8
23.1
26.7
-3.2
28.0
93.7
43.3
50.5
24.6
25.9
-5.6
30.6
79.5
32.5
47.0
22.0
25.0
-.4
25.1
84.4
34.5
49.9
21.1
28.8
-3.3
25.9
87.9
39.9
47.9
22.2
25.7
-5.3
26.7
90.7
41.1
49.7
22.9
26.7
-2.6
27.5
91.5
41.4
50.0
23.6
26.5
-.9
28.4
94.5
42.9
51.6
23.8
27.8
-4.2
29.3
95.5
43.9
51.7
23.8
27.9
-6.1
29.8
95.4
44.1
51.3
24.3
27.0
-6.2
30.3
92.5
42.8
49.7
24.9
24.9
-3.7
30.9
91.4
42.4
49.0
25.2
23.8
-6.2
31.6
'85.6
39.1
'46.5
25.2
'21.3
-5.9
32.3
629.4
82.9
546.5
506.2
40.4
687.9
97.9
590.0
551.6
38.4
747.2
117.5
629.7
592.0
37.6
634.5
84.1
550.3
509.7
40.7
645.9
86.1
559.8
516.6
43.1
664.3
89.3
575.0
535.1
39.9
680.1
92.7
587.4
545.1
42.3
696.1
102. 6
593. 4
560. 2
33.2
711.2
107.0
604.3
566.2
38.0
724.4
114.2
610.2
577.7
32.5
740. S
118.5
622.0
f 88. 8
33.3
756.5
117.5
639.0
596.0
43.1
767.4
119.9
647.5
605.8
41.7
778.6
118.2
660.4
616.9
43.5
65.47
28.51
14.06
14.45
67.76
28.37
14.12
14.25
75.56
31.68
15.96
15.72
16.20
6.88
3.40
3.48
18.12
7,77
3.96
3.81
15.10
6.15
3.06
3.09
16.85
6.99
3.36
3.63
16. 79
7.13
3.54
3.59
19.03
8.10
4.16
3.94
16.04
6.58
3.36
3.22
18.81
7.82
3.98
3.84
19.25
8.16
4.03
4.12
21.46 ' 17. 47 'i 20. 46
'8.27
9.12 '7.14
4.59 ••3.59 '4.17
'4.09
3.56
4.53
36.96
1.65
1.86
2.29
1.48
8.74
6.75
2.00
6.34
14.59
39.40
1.63
1.45
2.56
1.59
10.20
7.66
2.54
6.83
15.14
43.88
1.86
1.86
2.51
1.68
11.61
8.94
2.67
8.30
16.05
9.32
.44
.41
.56
.41
2.35
1.71
.64
1.57
3.59
10. 35
.47
.50
.64
.38
2.59
2.08
.51
1.73
4.04
8.95
.42
.39
.68
.30
2.07
1.69
.38
1.59
3.50
9.86
.43
.37
.58
.42
2.62
1.94
.68
1.62
3.81
9.66
.39
.31
.64
.41
2.61
1.87
.74
1.61
3.69
10.93
.40
.38
.66
.47
2.90
2.16
.74
2.00
4.13
9.45
.42
.38
.68
.38
2.36
1.88
.48
1.81
3.41
10.99
.48
.44
.66
.46
2.99
2.22
.77
2.00
3.97
11.10
.47
.49
.53
.40
3.03
2.23
.80
2.11
4.07
12.36
12.34 ' 10. 32 ' 12. 19
'.46
.48
'.45
.49
'.50
.53
'.42
.55
'.86
.78
'.73
.64
'.38
.35
'.28
.44
3.81
3.23 '2.54 '3.48
2.92
2.61 '2.15 '2.84
'.64
.88
.39
.62
2.14
2.39
4.60 '3.76 ' » 6. 52 26.42
do
do
do
do
65.48
27.85
13.92
13.93
65.66
27.51
13.71
13.80
68.09
28.02
14.11
13.91
66.29
27.84
13.51
14.33
67. 77
28. 86
14.47
14.40
69.05
28.70
14.39
14.31
72.52
29.99
15.47
14.52
73.94
31.16
15.98
15.18
77.84
33.05
16.53
16.52
77.84 ' 78. 22 'i 80. 66 i 83. 28
33.25
32.39 ' 32. 44 '32.88
16.89
15.88 ' 16. 40 ' 16. 69
16.50
16.36
16.05 ' 16. 18
do
do
do
do
do
do
do
do
do
do
37.62
1.76
1.72
2.35
1.66
8.86
6.86
1.99
6.49
14.80
38.15
1.78
1.82
2.79
1.41
9.46
7.47
1.99
6.37
14.54
40.07
1.80
1.68
2.88
1.43
10.08
7.76
2.32
6.83
15.37
38.45
1.66
1.49
1.98
1.49
10.24
7.64
2.60
6.42
15.17
38.91
1.57
1.29
2.69
1.65
9.82
7.50
2.32
6.67
15.22
40.35
1.52
1.34
2.87
1.75
10.63
7.74
2.89
7.34
14.91
42.53
1.83
1.68
2.89
1.87
11.52
8.62
2.90
7.74
15.00
42.78
1.88
1.76
2.22
1.66
11.68
8.71
2.97
7.92
15.67
44.80
1.89
2.06
2.23
1.65
11.48
8.98
2.50
8.71
16.78
45.46 ' 45. 78 ' 47. 78 50.02
1.85 ' 1.92 ' 1.80
1.90
1.94 '1.74 ' 1.97
2.22
2.80 '2.94 '3.09
3.38
1.63 '1.37 '1.37
1.44
11.80 ' 12. 14 ' 13. 48
14.68
9.36 '9.77 '11.11
11.86
2.44 '2.37 '2.37
2.82
8.76
9.14
16.67 ' 16. 52 '226.06 2 26. 40
'11,932
'7,946
'302
' 1, 765
'1,917
'12,685
'8,386
'344
' 1, 990
' 1, 965
'13,295
' 8, 878
'393
'2,000
' 2, 024
'12,714
' 8, 378
'357
' 1, 935
' 2, 044
'11.948
' 7, 472
'391
' 2, 089
' 1, 996
'14,291
' 9, 585
'313
' 2, 150
' 2, 243
'14,565
9,581
'458
' 2, 286
' 2, 240
'-11,477
-7,820
' 1,103
'-677
-1,877
'-11,832
'-8,132
' 1,112
'-732
'-1,856
'-12,444
'-8,569
'-1,147
'-761
'-1,967
'-12,374
'-8,443
' 1, 173
'-762
'-1,996
'-11,618
-7,576
'-1,198
'-905
'-1,939
Corporate profits before tax, total
do
Corporate profits tax liability
do
Corporate profits after tax
do
Dividends
do
Undistributed profits
do
Inventory valuation adjustment"
do
Net interest
do
DISPOSITION OF PERSONAL INCOME
Quarterly Data Seasonally Adjusted at Annual Rates
Personal income, total
bil $
Less: Personal tax and nontax payments
do
Equals: Disposable personal income
do
Less: Personal outlays®
do
Equals: Personal saving§
_.
do
NEW PLANT AND EQUIPMENT
EXPENDITURES
Unadjusted quarterly or annual totals :J
All industries.
bil $
Manufacturing.
do
Durable goods industries 1
do
Nondurable goods industries 1
.do .
714.4
467.4
Corporate profits and inventory valuation adjustment, total ...
bil $
By broad industry groups:
Financial institutions
do
Nonfinancial corporations, total
do
Manufacturing, total
do
Nondurable goods industries
do
Durable goods industries
do
Transportation, communication, and public
utilitiesbil $
All other industries
do
Nonmanufacturing
Mining
Railroad
Air transportation.
Other transportation . _
Public utilities. .
Electric
_
Gas and other
Communication.
Commercial and other
654.0
do
do
do
do
do
do
do
do
do
do
do
BALANCE OF INTERNATIONAL
PAYMENTScf
Quarterly Data Are Seasonally Adjusted
(Credits +; debits -)
Exports of goods and services (excl. transfers under
military grants)
mil. $
Merchandise, adjusted, excl. military
do
Transfers under military sales contracts
do
Income on U.S. investments abroad
do .
Other services
do
i 20. 62
8.26
4.15
4.11
U.S.
' 46, 204 ' 50, 626 '55,516
30,681 ' 33, 588 '36,473
1,239 ' 1, 396 ' 1,514
6,872 r 7, 690 ' 8, 839
' 7, 412 ' 7, 952 ' 8, 690
'11,565
7,669
'240
' 1, 786
' 1, 870
'11,694
7,601
'341
'1,888
' 1, 864
'-40.991 '-48,127 '-53,566 '-10,168 '-10,703
Importsof goods and services
do
-26, 821 '-32,964 '-35,835 -6,542 -7,154
Merchandise, adjusted, excl. military
do
Military expenditures
do
-4,378 '-4,535 '-4,850 -1,106 -1,112
-2,362 -2, 932 '-4,463 -580
-607
Income on foreign investments in the U.S do
Other services
do
'-7,430 '-7,696 '-8,418 '-1,940 '-1,830
Unilateral transfers, net (excl. military grants);
transfers to foreigners (-)
mil. $.. '-2,970 '-2,829 '-2,835 '-821 '-643
' Revised.
» Preliminary.
1 Estimates (corrected for sys tematic b ases) for Apr.-Ju ne
1970 and July-Sept. 1970 based on expected capital «^xpenditu res of bus iness. E> pected e xpenditures for the year 1970 appear on p. 18 of the Fune 1970 SURVEY.
2Inc udes cornmunication.
9 Includes inventory valuation adjus tment.
JRevisec series; explanati()n
of revisions and annual and quarterly data back to 1J 47 appear on pp. 21 ff. of th e Jan. 1970
SURVEY; see also pp. 19 ff. of the Feb. 1970 SURVEY
0Personal ou tlays contiprise pe r-
'-13,978
'-9,606
'-1,187
'-1,071
'-2,114
'-13,909
'-9,263
-1,220
'-1,240
'-2,186
'14,712 "15,276
' 9, 835 Pl0,200
'352
P 284
' 2, 314 "2, 489
' 2,211 "2, 303
'-14,061
'-9,390
'-1,245
'-1,247
'-2,179
D
-14,391
p-9,685
p— 1 205
p- 1,329
p-2, 172
'-629 '-675 '-757 '-768 '-612 '-812 '-690 '-721 p-707
sonal consumf tion exp enditures , interest paid by consume rs, and p ersonal t ransfer payments
to for eigners.
§Pers anal savi tig is exce ss of disj3osable iricome ov er persorlal outlays,
IfD ata for iridividua durable and non durable goods in(iustries <iomponetits appear in the
Mar., June, S 3pt., anc Dec. iss ues of th e SURVE Y.
<? Hore connplete de tails are given in
the q uarterly reviews i n the M£ir., June Sept., a nd Dec. issues of the SUR^TEY.
°In eludes tl- e retroa stive paj' increase) for Fed eral pers onnel.
SURVEY OF CURRENT BUSINESS
June 1970
Unless otherwise stated in footnotes below, data
through 1968 and descriptive notes are as shown in
the 1969 edition of BUSINESS STATISTICS
1967
1969
1968
Annual total
1967
III
S-3
1968
IV
I
II
1970
1969
III
I
IV
II
III
IV
I
II
III
May P
GENERAL BUSINESS INDICATORS—Quarterly Series—Continued
U.S. BALANCE OF INTERNATIONAL
PAYMENTS §-Con.
Quarterly Data Are Seasonally Adjusted
Transactions in U.S. private assets, net; increase
(— )
mil $ '-5,637 r-5,412 '-5,374 '-1,738 '-1,838 '-684 '-1,429 '-1,585 '-1,714 '-1,213 ' -2, 151 '-980 '-1,030 p- 1,557
Transactions in U.S. Govt. assets, excl. official
-2,419 ' -2, 268 ' -2, 184 '-537 '-691 '-723 '-642 '-528 '-375 '-435 '-641 '-650 '-458 p-460
reserve assets; increase (— ).
mil. $
Transactions in U.S. official reserve assets, net;
52
-880
-1,187
904
-299
-686
-154
-375
-181
-137
-571 -1,076
*264
-48
increase ( — )
mil $
Transactions in foreign assets in the U.S., net (U.S.
6, 853 '9,409 '12,556 '2,137 ' 2, 389 '1,008 ' 2, 562 '2,253 '3,586 ' 3, 174 ' 4, 513 '3,276 '1,593 P 1,693
liabilities); increase (+)
mil. $
3,492
'709 '8,408 ' 1, 346 ' 1, 917 '-660
'426
'912 '1,400 '4,100 '2,965
'-57 p 1,284
'31
Liquid assets
do
3,361 '8,700 ' 4, 148
'472 '1,668 ' 2, 531 ' 1, 827 ' 2, 674 ' 1, 774 '-413
'311 '1,650
'791
"409
Other assets
do
Balance on transactions in U.S. and foreign liquid
-1,154
849
421
1,422
960
3,811
354
-49
p-60
-513
-321
505
-431
1,478
and nonliquid
assets,
incl.
reserves
mil.
$..
v 217
Allocations r-t special drawing rights (SDR) do
'-1,088 '-514 '-2, 924 '-63
'121 *>-337
'335
' 8'-1,196 '-922 '-927
'-25 '-329 '-528
Errors and omissions, net
do
Balance on liquidity basis: If
'164 '-1,352 '-3,801 '-2,279
-3, 544
171 -7,221 '-971 '-1,736 '-244
'106
'145
'211 P- 1,548
Including allocations of SDR
do
171 -7,221 '-971 '-1,736 '-244
'164 '-1,352 '-3,801 '-2,279
-3, 544
'145
'211 v- 1,765
'106
Excluding allocations of SDR
do
Balance on official reserve transactions basis: ®
r 1
1,641
2,708
'-61 '1,652
'522 p-2, 853
-3,418
'-976
'408 '-358 '1,453 '1,315 '-582
Including allocations of SDR
do
1,641
'1
2,708
'522 »-3,070
-3,418
'-976
'-61 ' 1, 652 '408 '-358 ' 1, 453 ' 1, 315 '-582
Excluding allocations of SDR
do
Unless otherwise stated in footnotes below, data
through 1968 and descriptive notes areas shown in
the 1969 edition of BUSINESS STATISTICS
1968
1969
1969
Apr.
Annual
May
June
July
Aug.
1970
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
774.3
778.3
783.3
'801.3
793.5
539.9
200.7
158.4
126.5
GENERAL BUSINESS INDICATORS—Monthly Series
PERSONAL INCOME, BY SOURCE
Seasonally adjusted, at annual rates:
Total personal income
bil. $
687.9
747.2
735.3
740.0
746.1
751.4
757.5
760.7
763.9
767.6
770.6
465.0
181.5
145.9
109.2
509.9
197.7
157.6
119.5
500.8
195.2
155.8
117.2
503.8
196.2
156.3
118.3
508.5
198.3
157.8
119.5
512.8
198.9
158.5
120.1
517.9
201.0
160.5
121.4
519.9
201.5
160.7
121.8
522.2
201.8
160.6
122.3
525.1
201.7
159.8
123.5
527.8
203.4
161.0
123.5
530.0
201.3
160.1
125.9
532.2
201.5
159.3
126.1
535.1
203.3
160.4
126.6
' 540. 3
' 202. 4
' 159. 4
125.9
78.3
96.0
24.2
88.1
104.5
26.2
86.4
101.9
25.8
87.0
102.3
25.9
87.8
102.9
26.1
88.0
105.9
26.3
88.8
106.8
26.4
89.4
107.2
26.6
90.3
107.8
26.8
91.5
108.4
26.9
91.9
109.0
27.1
93.2
109.6
27.3
94.5
110.1
27.5
94.7
110.5
27.7
94.9
' 117. 1
27.8
95.3
117.5
27.9
do
do ...
49.2
14.6
50.2
16.1
49.8
15.8
50.1
16.4
50.4
16.9
50.5
16.8
50.5
16.8
50.5
16.8
50.6
16.7
50.4
16.3
50.3
15.9
50.2
16.2
50.1
16.5
50.1
16.8
50.0
16.7
50.0
16.5
Rental income of persons...
do
Dividends
do
Personal interest income
do
Transfer payments.
_
do
Less personal contributions for social insurance
bil. $__
21.2
23.1
54.1
59.2
21.6
24.6
59.4
65.5
21.5
24.2
58.3
64.7
21.6
24.3
58 8
64.9
21.6
24.5
59.2
65.2
21.7
24.6
59.5
65.7
21.7
24.8
59.8
66.1
21.7
25.1
60.2
66.4
21.8
25.3
60.8
66.7
21.8
25.4
61.3
67.2
21.9
25.0
61.8
67.8
21.9
25.2
62.1
68.9
22.0
25.2
62.5
70.0
22.0
25.2
62.9
71.3
22.1
25.3
63.3
84.0
22.2
25.3
63.7
76.1
26.4
26.6
26.7
26.9
26.9
27.1
27.5
27.6
27.8
'28.1
28.1
738.1
741.5
745.3
748.6
752.0
755.6
760.4
' 778. 4
770.8
Wage and salary disbursements, total -do
Commodity-producing industries, total.do
Manufacturing
do
Distributive industries
do
Service Industries
Government .
Other labor income
Proprietors' income:
Business and professional
Farm
.,
.do
do
_ do
Total nonagricultural income
do
22.6
26.2
25.7
25.8
26.1
667.9
725.2
713.5
717.7
723.4
728.8
734.9
47, 848
51, 231
3,284
3,342
3,418
4,153
5,034
5,787
5,977
5,167
4,661
4,265
3,361
3,456
3,374
44,386
18, 847
25, 539
5,962
15,406
3,827
47, 431
18, 939
28,492
6,143
17, 584
4,384
3,135
893
2,242
524
1,356
319
3,306
870
2,436
552
1,523
318
3,407
1,058
2,349
533
1,471
315
3,795
1,410
2,385
517
1,453
391
3,844
1,494
2,350
502
1,446
381
4,532
1,952
2,580
499
1,667
393
5,630
2,764
2,866
516
1,900
427
5,146
2,733
2,413
496
1,471
427
4,633
2,176
2,457
511
1,474
441
4,209
1,632
2,577
543
1,574
417
3,337
999
2,338
489
1,457
348
3,444
921
2,523
545
1,576
364
3,312 P 3, 417
P897
858
2,454 p 2, 520
P586
548
1,534 p 1, 570
325
P323
137
136
138
146
137
154
116
77
145
123
75
158
126
92
152
141
122
155
142
129
152
168
169
167
209
239
186
191
237
156
172
189
159
156
141
167
124
87
151
128
80
163
123
74
159
P127
p78
pl63
126
130
124
127
131
124
94
59
121
97
57
127
104
83
121
124
127
122
123
125
121
144
160
133
187
237
149
171
235
124
152
194
121
134
147
124
98
80
112
99
68
122
96
59
124
plOl
p60
pl32
165.5
v 172. 8
171.9
172.4
176.7
167.7
174.6
179.2
177.8
173.6
169.6
168.2
' 171. 5 ' 172. 4 ' 170. 8
168.8
166.9
169.8
163.3
126.6
202.5
p 173. 9
P 176. 5
f 170. 6
p 130. 2
v 221. 2
173.7
177.7
168.6
130.2
174.4
178.3
169.5
132.9
178.5
182.2
173.9
134.6
167.3
169.7
164.3
127.9
174.3
173.6
175.0
132.3
180.0
181.5
178.1
132.9
179.5
181.5
176.9
132.7
175.0
175.4
174.5
132.9
169.6
172.6
165.9
133.1
167.5
169.1
165.6
130.1
' 171. 3 ' 172. 6
' 170. 7 ' 173. 3
' 172. 0 ' 171. 6
134.1 ' 134. 8
171. 1
170. 7
171. 7
135. 6
169.1
168.9
169.4
137.0
165.1
156.9
175.0
151.2
182.6
P 170. 8
r> 162. 5
P 179. 5
P 157. 1
p 188. 6
168.6
159.0
183.0
151.4
189.1
168.4
158.2
182.1
150.5
190.4
174.0
165.5
191.1
157.3
192.4
166.4
156.5
155.7
156.8
187.7
173.4
166.3
160.4
168.2
188.5
179.2
172.6
186.9
168.0
193.4
176.5
169.4
192.1
162.2
191.8
170.0
162.6
175.9
158.4
186.0
166.2
156.6
167.4
153.1
187.0
167.1
159.0
165.1
157.1
184.3
' 170. 5
'163.0
' 171. 5
'160.3
' 186. 5
' 170. 4 ' 167. 1
' 162. 5 '160.3
' 176. 5 175.1
158.0
'187.3 ' 181. 5
165.2
159.6
177
FARM INCOME AND MARKETINGS
Cash receipts from farming, including Government
payments, total
mil. $
Farm marketings and CCC loans, total
do .
Crops
do
Livestock and products, total 9
do
Dairy products
do
Meat animals..
do
Poultry and eggs
do
Indexes of cash receipts from marketings and CCC
loans, unadjusted:
All commodities
1957-59=100
Crops
do
Livestock and products
do
Indexes of volume of farm marketings, unadjusted:
All commodities
1957-59 - 100
Crops __
do
Livestock and products
..do .
INDUSTRIAL PRODUCTION tf
Federal Reserve Index of Quantity Output
Unadj., total index (incl. utilities) d*-- 1957-59 =100. .
By industry groupings:
Manufacturing, total
_._do
Durable manufactures
do
Nondurable manufactures
do
Mining
do
Utilities
do_...
By market groupings:
Final products, total
Consumer goods
Automotive and home goods
Apparel and staples
Equipment, including defense
do
do
do
do
do
Materials
do
165.8 p 174. 6
174.8
176.1
179.2
Durable goods materials
do
157.8 p 165. 5 166.4
167.4
171.6
N endurable materials _ _
do
174.1 P 183. 9 183.4
185.0
187.0
r
Revised.
» Preliminary.
§ See note "<?" c n p. S-2.
finer ease in J.S. offic,ial
reserve assets and decrease in liquid liabilities to all foreigners
®Inc rease in U.S. officJial
Digitized reserve
for FRASER
assets and decrease in liquid and certain nontliquid lia bilities to foreign o fficial ag en-
178.9
168.8
179.2
175.6
160.5
166.2
169.7
170.2
188.4
177.3
185. 3
188.5
cies.
cTRevisions for Jan.-Oc ,.
shown separate iy.
'
'
'
'
177.4
172.4
172.6
169.5 ' 172. 5 174.5 ' 174. 4
176.9
159
158.4 ' 161. 4 '160.7
161.8
156.8
166.3
188.4
187
183.7
182.5 ' 186. 9 '188.0
187.8
9 Ineludes d ita for it(jms not
1968 wi11 be sho wn later.
SURVEY OF CURRENT BUSINESS
S-4
Unless otherwise stated in footnotes below, data
through 1968 and descriptive notes are as shown in
the 1969 edition of BUSINESS STATISTICS
1968
1969*
Annual
June 1970
1969
Apr.
May
June
July
Aug.
1970
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
171.1
170.4
170.5
171.3
170.2
170.3
Mar.
Apr.
May p
171.1
170.4
169.0
170. 9
' 170. 0
168.4
' 168. 6
' 139. 9
' 134. 0
184.1
166.9
138
132
GENERAL BUSINESS INDICATORS—Continued
INDUSTRIAL PRODUCTION^— Continued
Federal Reserve Index of Quantity Output—Con.
165.5
172.8
166.9
173.9
169.8
137. 0
130.7
160.0
176.5
149.1
140.3
181.1
175.7
147.9
141 ''
186 2
176.7
149.3
141.6
184.3
178.3
153.1
145.6
190.8
178.7
152.4
145 3
181.8
178.8
151.3
141. 1
177.9
178.7
149 3
141 4
178 6
177.3
150.4
141.5
178.7
172.1
150.3
142.7
183.1
171.1
147.7
138 8
181.1
169.7
143.1
135.2
174.8
do
.do
167.9
162.2
179.8
173.3
178.3
174.4
179.2
173.1
180.6
173.8
179.1
170.8
180.6
171.5
179.1
171.5
179.4
172.5
179.2
174.5
178.4
177.1
180.0
175.4
do
_ _do .
do
184.3
181.0
188.5
195.7
194.6
197.2
194.6
190.8
199.5
196.9
193.1
201.8
197.2
195.3
199.6
198.1
196.0
200.8
199.4
195.5
204.5
201.2
199.8
202.9
199.0
200.3
197.3
187.4
194.9
177.5
188.7
196.5
178.3
189.7
195.9
181.5
Seas, adj., total index (incl. utilities) d*. 1957-59 = 100
By industry groupings:
Manufacturing, total__
do
Durable manufactures 9
Primary metals
Iron and steel
Nonferrous metals and products
Fabricated metal products
Structural metal parts
.
Machinery
_
Nonelectrical machinery
Electrical machinery
do ._.
do
do
do
171. 7
173. 0
172.5
173.7
173.8
174.8
174.6
175.6
174.3
175.4
173.9
173.1
175 2
173.9
171.4
171.8
r
r
170. 6
'r 169. 6
139. 2 r' 142. 0
r
134. 4
129. 8
'177.3 r 183.8
175.1
170.2
171
163
193.9
' 195. 8 ' 198. 3
195. 8 ' 196. 5 '191.5
' 195. 9 ' 200. 7 ' 197. 0
191
187
196
178.9
174.6
' 178. 3
174.4
r
Transportation equipment 9
Motor vehicles and parts___
Aircraft and other equipment _
do
do
_do
179.5
171.4
185.0
174.6
166.9
177.8
172.4
160.8
178.7
171.8
156. 8
180.8
176.6
169.1
179.5
181. 1
174.2
183.4
179.1
174.1
180.3
178. 8
170. 5
182. 6
175.7
167.9
179.6
168.3
159.9
171.9
163.9
152.0
170.7
159.6
146.8
166.7
' 154. 3 ' 156. 1
155.2
r
148.3
142. 1 r 149. 0
161.4
159.1 ' 157. 9
159
162
153
Instruments and related products
Clay, glass, and stone products
Lumber and products
Furniture and fixtures
_
Miscellaneous manufactures. .
do
do
do
do
do
184.2
146.2
122.3
178.3
161.4
194.4
156.0
119.1
186.9
166.4
195.4
155.1
122.6
188.9
167.6
195.3
156.9
120 7
190.2
167.5
195.7
155.2
115.5
189.9
168.1
194.7
152.7
113 4
185 0
167.4
194.9
155.3
114. 1
186.5
165.8
195. 4
157. 7
111 1
185. 3
165.3
193.9
156.3
113 8
184.0
165.3
196.0
155.9
114. 1
183.7
166.4
197.4
157.4
109 7
183.3
167.2
194.8
154.5
118.0
183.4
168.2
194.0
155.0
'117.5
179.4
168.4
195.4
' 154. 4
194
152
' 179. 5
167.4
176
163
do
do
do
do
do
163.3
151.5
149.9
111.0
163.8
170.6
154.2
149.2
101.9
175.6
169.6
154.2
147.8
103.4
175.8
170.3
156.5
150.0
107.6
174.9
170.5
157.8
149.2
104.7
175.3
171.8
157.0
150.7
98.4
176.4
171.3
153.0
148.8
100.0
177.5
170. 9
151. 6
146 1
97 7
177 5
169.5
152.1
146.5
101.1
177.1
171.5
151.9
148 0
102.7
175.9
171.5
150.3
147.9
98.0
178.0
171.0
152. 9
145.8
96.9
173.8
.do
do .
149.6
136.1
156.3
142.7
152.7
137.5
155.9
142.8
156.5
141.3
158.3
145.6
158.2
144.4
157.3
143. 3
156.9
143.0
159.1
145.1
158.6
142.0
157.9
141.7
221.7
262.0
239.0
283.0
239.1
283.3
239.5
285.2
239.7
286.1
243.1
288.6
238.1
281.5
240 2
286 2
238. 3
281 2
240.8
283.9
241.7
283 8
240.2
281.9
r
Nondurable manufactures
Textile mill products. .
Apparel products
Leather and products
Paper and products .
Printing and publishing _._
Newspapers-
r
193.6
151. 7
113.2
180.4
167.8
171.3 '171.2 '171.7
149.3
'151.3 ' 150. 5
141. 7 140.3
95.9
96.9
r
176.9
174. 8 ' 175. 4
157.3
142.1
156.9
137.9
156.9
139.3
242. 6 ' 243. 7
287.7
' 284. 3
243.5
Chemicals and products
Industrial chemicals
do
do
Petroleum products
do
139.6
143.8
142.2
143.5
145.4
143.5
144.5
146 2
146.7
150.9
149.5
143.3
T
143. 0
' 148. 5
150.1
Rubber and plastics products
Foods and beverages
Food manufactures
Beverages
do
do
do
do
222.0
136.4
132.7
156.5
238.7
140.7
136.7
161.9
234.2
140.5
136.7
160.6
237.0
138.6
136.6
149.4
237.3
138.3
136.1
149.8
238.3
139.9
135.8
161.7
239.9
143.1
137.8
171.3
240
142
137
169
0
2
0
9
238 6
138 0
132.6
166 7
240.2
141.0
137.5
159.7
234.8
142.1
137.4
167.2
231.4
144.7
140.2
168.9
r
234.0
145.2
140.4
170.7
235.3
' 144. 9
' 139. 1
175.9
144.8
139.9
Tobacco products
do
120.9
117.3
110.5
115.4
121.9
120.3
114.8
118 6
113 8
116.2
115 1
117.8
126.6
118.2
126.8
130.5
126.4
137.8
130.2
117.7
129.3
132.0
142.0
144.7
128.8
120.2
126.9
130.2
146.6
141.4
130.3
123.9
129.6
133.1
134.5
141.2
134.4
124.8
134.8
139.2
137.4
142.6
133.2
130.0
132.1
135.5
138.1
142.2
131.2
122.1
130.2
132.4
142.3
142.8
131. 6
114.7
133. 1
135. 6
133. 1
144.3
130.2
115.7
130.7
132.8
141.1
139.6
132.6
118.9
131.2
133.5
153.3
146.8
134.4
119.3
132.6
135.0
152.3
154.8
131.7
113.1
131.4
133.7
155.7
142.6
r
do
do
do
202.5
211.5
174.1
221.2
233.0
174 1
216.3
226.9
182.9
213.6
223.1
183.7
215.6
225.9
183.5
222.2
234.2
184.7
222.6
234.4
185.4
222. 5
234. 1
186 2
226.0
238.5
186.9
226.0
238.3
187 6
227.9
240.5
188 4
230.1
243.1
r
do
do
do
165.1
156.9
175.0
170.8
162.5
179.5
170.2
161.8
177.9
170.0
160.7
177.6
170.7
161.5
183.0
172.8
164.4
184.5
172.7
164.2
182.4
172. 2
162. 8
179.3
170.9
161.2
176.8
168.4
160.5
167.2
168.5
160.7
164.4
168.5
161.5
163.7
'r 169. 9 ' 170. 0 ' 168. 7
162. 4 ' 162. 6 ' 162. 9
' 166. 6 '171.6 ' 170. 7
do .
do
do
do
do
do
174.3
174.8
173.8
175.4
168.4
173.7
173.2
162.8
186 8
184.0
180.2
180 3
166.1
149.6
187 9
186.1
182.0
183 3
165.8
148.9
188 0
185.9
182.0
183.4
178.7
168.3
192.3
186.1
180.2
184.0
184.6
178.7
192.4
184.4
181.8
180.0
179.5
178.4
181 0
184.5
181.9
179.7
176. 6
169.9
185 4
181.2
176 5
177 9
172.8
164.0
184 4
179.5
175.2
175.7
168.0
153.8
186.7
166.7
142.2
176.0
160.9
141.6
186 2
166.8
140 1
175 0
155.3
132.9
184 9
169.6
149.0
173.8
154.8
127.6
190 7
r
174. 8
r 168. 6
169. 2
Apparel and staples
do
Apparel, incl knit goods and shoes do
Consumer staples
_
_. ""do _
Processed foods..
.
do
151.2
139.5
154.5
132.6
157 1
138 5
162.4
136.6
156 6
140 6
161.2
137.1
155.3
141.5
159.2
136.4
154.7
137.4
159.6
136.1
158.1
140.9
162.9
135.3
158.4
138 0
164.1
138.8
157 6
135 9
163.7
137.9
156.2
136 4
161.8
132.3
158.3
137.5
164.2
136.5
159 5
137 7
165.7
137 0
160.8
137 6
167.3
138.7
r
Mining
Coal
.
Crude oil and natural gas
Crude oil. _
.
Metal mining
Stone and earth minerals
_
Utilities...
Electric
Gas
By market groupings:
Final products, total d"
Consumer goods
Automotive 4 and home goods
Automotive products _
Autos. _
_
Auto parts and allied products
Home goods 9_ _
Appliances, TV, and radios
Furniture and rugs
do
do
do
do __
do
do
122.8
134. 2
122.3
'131.8
r 133. 0
158.4
149.8
144.5
193.4
143.3
183.4
146.8
209.0
147 1
199 6
143 7
209.9
145 9
194 1
137.9
208.0
147.3
189.8
140.4
206.1
146.3
192.7
147.8
211.9
147.5
201.6
152.3
207.2
147 6
201.1
152
208
149
198
6
6
8
6
148.9
210.4
147 1
203 9
145.0
213.2
148.9
206 0
149
217
149
206
6
0
7
0
151.7
217.6
147 7
210 0
Equipment, including defense 9
Business equipment
Industrial equipment
Commercial equipment
Freight and passenger equipment
Farm equipment
do
do
do
do
do
do
182.6
184.7
168.2
205.2
234.3
145.0
188.6
195.6
179.1
220.0
246.7
136 8
188.4
194 1
178 6
220 1
239 7
133 9
190.0
195. 7
180.9
221.7
238 4
134.9
190.4
197.0
182.7
221.0
240.8
135.2
190.8
196.9
181.2
220.5
250.5
124.4
190.3
197.0
180.3
221.3
249 7
136.0
192. 4
200.4
183 9
222 9
251 9
146 8
191.9
200.9
182 9
224 9
254 5
153 1
185.6
194.4
174.4
223 3
252 8
136 5
185.2
193 8
176 3
223 6
240 9
135 4
183.6
192.8
175.0
223.0
239 5
138 4
do
do
do
do
do
165.8
157.8
164.2
185.1
145 9
174.6
165.5
163.9
191.9
152 4
172 9
165 8
157 9
190 3
153 2
174.5
165.5
156 6
191.7
153 0
176.3
167.0
162.7
193.2
151.7
176.5
167.0
163.0
193.2
150.0
175.9
167.3
169 5
195 1
149 9
176 0
166 6
171 7
197 2
149 8
175 4
165.8
166 4
194 8
149 6
174.6
163.5
158.5
190.7
150.2
173 9
161 8
150 9
189-8
150 4
172.5
160.1
148 7
188.6
151 2
f
do
_do _
do
do _
174.1
157.6
156 6
158.1
183.9
166.6
168.6
165.5
180.3
162.3
165 0
160.9
183.7
165.9
168 2
164.7
185.9
166.3
167.5
165.7
186.4
167.1
165 5
167.9
184 7
167.4
166 7
167 8
185 5
167 0
167 8
16(5 6
185 3
167 4
169 9
166 1
186.0
166.9
165.6
167.6
186 5
168 5
174 0
165 8
185 3
167.5
173 7
164 4
r
r
r
r
152.0
133 0
200.2
158.2
134.9
216.7
156.9
134 2
213.7
159.3
137 4
214.9
162.8
141 8
216.1
161.6
139 7
216.7
159 4
136 5
217.3
159. 8
137 7
221. 1
160 4
135 7
222.8
160.4
136.5
220.9
161.7
137 7
222.5
159 8
135 3
222.4
Nondurable materials 9 . .
Business supplies
....
Containers
. _
General business supplies
Business fuel and power 9
do_ _ .
Mineral fuels _ „
do
Nonresidential utilities. _
_._do
' Revised.
» Preliminary.
o"See corresponding
note on p. S-3.
9 Includes data for items not shown separately.
116.8
134.7
130
133
137
231.5
231.5
' 160. 3 ' 158. 0
138.8 ' 136. 9
r
185.8
188. 5
' 179. 6 179.5
177.9
' 178. 1
170.6
170.9
161.0
' 135 7
' 168. 2 '
139.5 '
do
do
do
do
r
r
T
r
r
r
156.0
' 216. 5
146 1
207.1
186.2
196. 9
184 9
222.4
231 8
130 3
'r 185. 7
197. 1
185.5
225.0
r
226 1
134.0
171.5
157.9
142 3
188.6
150 7
r
r
r
r
' 162. 0
137 1
225.0
r
159.8
134.5
167. 0 ' 168. 0
140.2
138. 5
154.6
217. 9
147 6
210 3
185. 5
166. 2
169 3
164 7
158
' 135. 8 ' 134. 5
123.0
121.5
r
133. 5 ' 132. 2
134.9 ' 136. 5
162.4
' 165. 1
146.1
150.1
232. 7 * 230. 3
242.8
' 246. 1
Beverages and tobacco
Drugs, soap, and toiletries
Newspapers, magazines books
Consumer fuel and lighting
Materialsd"
..
Durable goods materials 9 „
Consumer durable
Equipment
._.
Construction
170.2
r
167.7
163.4
174
165
158
168
217.8
146.0
'181.0
' 192. 7
181.9
223 .4
215.3
177.0
189
' 172. 1 ' 172. 0
159.1
159. 1
143.5
143. 0
183.8
189. 8
148 9
148 9
170.5
157
r
185. 3
164.5
165.2
164.1
185
'163.7 r' 164. 7
138. 5 139. 9
226.3
166
142
185.5 '
' 164. 7
' 164 6
r
164 8
r
June 1970
SURVEY OF CURRENT BUSINESS
1968
Unless otherwise stated in footnotes below, data
through 1968 and descriptive notes are as shown in
the 1969 edition of BUSINESS STATISTICS
1970
1969
1969
Annual
S-5
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
GENERAL BUSINESS INDICATORS—Continued
BUSINESS SALES §
100,191 '106,416 105, 641
Mfg. and trade sales (unadj.), total--
mil. $
U,162,985 11,243,676 103,386
105,368 107,145
99, 535 102,861 107,212
111,053
105,392
110,580
Mfg. and trade sales (seas, adj.) , total
do
11,162,985 11,243,676 102,319
103,232 104,127 104,201 104,644 105,903
106,907
105,666
104,758 104,961 106,139 '105,218 104, 798
do
do
do
1
603, 718 1655,335 53, 298
330,951 363, 601 29, 643
272,767 291,734 23, 655
53,741
29,573
24,168
54, 786
30, 136
24, 650
55, 392
30,605
24, 787
55, 239
30, 868
24, 371
56, 434
31, 742
24, 692
56, 999
31,889
25, 110
55, 988
30,944
25,044
55,277
30.201
25,076
55,099
30,042
25,057
55,588 ••54,954 54, 511
30,402 '29,711 '29,500 2 30, 200
25,186 '25,243 24, 871
do
do
do
1° 339, 324 1351,633 29, 409
110,245 112,779
9,575
0
229, 079 238, 854 19, 834
29,386
9,481
19,905
29, 371
9,545
19, 826
29, 090
9,141
19, 949
29,346
9,161
20, 185
29,259
9,384
19, 875
29,620
9,354
20, 266
29,471
9,229
20, 242
29,419
9,275
20,144
29,570
8,886
20,684
29,980 '29,801
9,143 ' 9, 134
20,837 '20,667
30, 387
9,295
21, 092
do
do
do
1219,943 i 236, 708
100, 012 109, 578
119, 930 127, 130
20,105
9,307
10,798
19,970
9,263
10,707
19, 719
9,114
10, 605
20, 059
9,178
10, 881
20, 210
9,304
10, 906
20,288
9,359
10,929
20, 207
9,352
10,855
20,062
9,102
10,960
20,292
9,201
11,091
20,571 '20,463
9,344 ' 9, 300
11,227 '11,163
19,900
8,966
10, 934
Manufacturing , total
Durable goods industries
Nondurable goods industries
Retail trade, total
Durable goods stores .. __
Nondurable goods stores
.
Merchant wholesalers, total. _
Durable goods establishments
Nondurable goods establishments
19, 612
9,132
10, 480
97,419
BUSINESS INVENTORIES §
Mfg. and trade inventories, book value, end of year
or month (unadj.), total
..
mil. $
152,072
164,087
159,365 160,104 159,762 159,719 159,772 161,368 164, 196
166,012
164,087 164,437 166,798 '168,398 169, 724
Mfg. and trade inventories, book value, end of year
or month (seas. adj.). total . ..
mil. $
153, 764
166, 106
157,477 158,602 159,264 160,631 161,659 162,733 164,250
88,579
57, 422
31, 157
42, 657
19,461
23, 196
22, 528
13, 454
9,074
95,905
63, 550
32,355
45,838
20, 597
25, 241
24,363
14, 579
9,784
91, 018
59, 426
31, 592
43, 118
19, 567
23, 551
23,341
13, 860
9,481
92,139
60,222
31,917
43,025
19,044
23,981
23,438
13, 897
9,541
1.54
1.54
Manufacturing, total
Durable goods industries...
Nondurable goods industries
Retail trade, total
Durable goods stores
Nondurable goods stores
Merchant wholesalers, total
Durable goods establishments
Nondurable goods establishments
do
do
do
do
do
do
do
do
do
164,974
166,106 165,816 166,793 '167,283 167, 779
92, 215 93,166
60,479 61, 441
31,736 31, 725
43,438 43, 874
19, 365 19, 358
24, 073 24, 516
23, 611 23,591
14,004 14, 089
9,502
9,607
93, 728
61, 724
32,004
44, 322
19, 756
24, 566
23,609
14, 220
9,389
94, 211
62, 036
32, 175
44,806
20,079
24, 727
23, 716
14, 182
9,534
94, 916
62,631
32,285
45, 378
20, 564
24, 814
23, 956
14,365
9,591
95,416
63,076
32, 340
45,537
20, 602
24, 935
24, 021
14, 389
9,632
95,905
63,550
32,355
45, 838
20, 597
25, 241
24,363
14,579
9,784
96,062
63,835
32,227
45,270
20,103
25,167
24,484
14,636
9,848
96,603
63,969
32,634
45,337
19, 936
25, 401
24,853
14,788
10,065
1.54
1.54
1.54
1.54
1.56
1.59
1.58
1.57
1.59
1.60
1.76
2.16
.60
'1.01
.55
1.79
2.18
.59
1.02
.57
'96, 916
'64,266
'32, 650
45, 525
20, 022
25,503
'24,842
' 14, 781
'10,061
97,604
64,675
32, 929
45, 493
19,960
25, 533
24,682
14, 634
10, 048
BUSINESS INVENTORY-SALES RATIOS
Manufacturing and trade, total
ratio
1.53
1.54
do
do
do
do
do
1.70
2.01
.59
.92
.50
1.69
2.00
.56
.93
.51
1.71
2.00
.57
.93
.51
1.71
2.04
.58
.94
.52
1.68
2.01
.57
.93
.51
1.68
2.01
.56
.94
.51
1.70
2.00
.55
.94
.51
1.67
1.95
.54
.92
.50
1.67
1.96
.54
.92
.50
1.70
2.04
.56
.96
.52
1.73
2.10
.58
.99
.54
1.74
2.12
.59
1.00
.54
1.74
2.10
.58
.99
.54
Nondurable goods industries
Materials and supplies
Work in process
Finished goods.
do
do
do
do
1.33
.50
20
.62
1.31
.48
.21
.62
1.34
.49
.21
.63
1.32
.49
.21
.63
1.29
.47
.20
.61
1.28
.47
.20
.61
1.31
.48
.20
.62
1.30
.48
.20
.62
1.29
.48
.20
.60
1.29
.48
.20
.61
1.29
.47
.20
.62
1.29
.46
.20
.62
1.30
.47
.20
.63
1.29
.47
'.20
.63
1.32
.48
.20
.64
Retail trade, total
Durable goods stores
Nondurable goods stores
do
do
do
1.44
2.00
1.18
1.50
2.10
1.21
1.47
2.04
1.19
1.46
2.01
1.20
1.48
2.03
1.21
1.51
2.12
1.23
1.51
2.16
1.22
1.53
2.14
1.24
1.53
2.20
1.22
1.55
2.23
1.23
1.56
2.22
1.25
1.53
2.26
1.22
1.51
2.18
1.22
1.53
'2.19
'1.23
1.50
2.15
1.21
1.20
1.54
.91
1.19
1.53
.89
1.19
1.52
.90
1.17
1.49
.88
1.18
1.51
.90
1.20
1.55
.90
1.18
1.55
.86
1.17
1.52
.87
1.18
1.53
.88
1.19
1.54
.89
1.21
1.60
.89
1.21
1.59
.89
1.21
1.58
.90
1.21
'1.59
'.90
1.24
1.63
.92
14, 944
17, 189
1,449
1,430
1,446
1,396
1,435
1,392
1,378
1,530
1,295
1,424
1,653
1,637
1,485
1,470
1,741
1,574
1, 457
1,551
1,632
1,687
Manufacturing, total
Durable goods industries
Materials and supplies
Work in process.
Finis.hed goods
-
Merchant wholesalers, total
do
Durable goods establishments
do
Nondurable goods establishments
do
MANUFACTURERS' SALES, INVENTORIES,
AND ORDERS
Manufacturers' export sales:
Durable goods industries:
Unadjusted, total..
mil $
Seasonally adj., total
. _
do
Shipments (not seas, adj.), totaL..
1.53
1,465
1,486
1,730
' 1, 847
' 1, 727 1,709
do
603, 718
655, 335
54, 693
54,406
57,484
50, 501
53,401
57,991
58, 473
55, 833
53,914
51, 555
56, 249 '57,109
Durable goods industries, total 9 . _
Stone, clay, and glass products
Primary metals
Blast furnaces, steel mills
do
do
do
do
330, 951
15, 754
50, 457
24, 901
363,601
17, 219
57, 135
26,493
30,654
1,438
4,893
2,305
30,391
1,450
4,883
2,275
32, 317
1,532
4,991
2,312
27, 225
1,407
4,360
2,101
28, 745
1,531
4,584
2,148
32,188
1,592
4,946
2,262
32, 451
1,604
5,024
2,316
30, 891
1,450
4,849
2,198
30,067
1,335
4,651
2,121
27, 886
1,250
4,931
2,365
30, 780
1,356
4,957
2,213
'31,184 '30, 500
1,443
' 1, 464
' 4, 994 '4,700
' 2, 229 1, 960
Fabricated metal products
Machinery, except electrical
Electrical machinery.
Transportation equipment.
Motor vehicles and parts
Instruments and related products
do
do
do
do
do
do
34, 180
58,047
42, 353
84, 163
47,638
11, 370
37, 024
64,551
45, 376
91,450
50, 144
13,563
3,109
5,559
3,686
7,654
4,281
1,068
3,031
5,420
3,674
7,652
4,223
1,085
3,318
5,918
4,076
7,954
4,615
1,217
2,876
4,856
3,536
6,224
3,093
1,023
3,135
5,095
3,739
6,302
2,955
1,166
3,249
5,700
4,098
8,101
4,625
1,287
3,371
5,469
4,064
8,530
4,973
1,176
3,133
5,237
3,847
8,236
4,439
1,204
3,142
5,319
3,699
8,050
3,865
1,213
2,969
5,017
3,319
6,668
3,666
1,035
3,222
5,805
3,762
7,627
3,924
1,159
3,115
' 3, 246
' 5, 844 5,618
3,688
'3,806
7,897
'7,630
' 3, 898 '7,800
' 1, 223 1,114
Nondurable goods industries, total?
Food and kindred products
Tobacco products
Textile mill products
do
do
do
do
272, 767
90, 157
4,922
21,458
291, 734
96,717
5,121
21, 262
24, 039
7,662
414
1,756
24,015
7,831
439
1,717
25, 167
8,278
462
1,854
23, 276
7,809
437
1,507
24,656
8,159
453
1,852
25,803
8,708
454
1,884
26. 022
8,677
414
1,990
24, 942
8,383
438
1,847
23,847
8,414
431
1,647
23, 669
8,088
414
1,626
Paper and allied products
Chemicals and allied products
Petroleum and coal products
Rubber and plastics products..
do
do
do
do
24,208
46,465
22,267
14, 265
26, 951
48, 698
24,555
16, 552
2,256
4,254
1,971
1,413
2,230
4,251
2,054
1,380
2,343
4,274
2,155
1,485
2,157
3,825
2,046
1,266
2,264
4,040
2.088
1,311
2,338
4,268
2,155
1,423
2,350
4,230
2,082
1,594
2,278
4,036
2,142
1,405
2,187
3,670
2,128
1,317
2,239
3,797
2,167
1,390
do
53, 298
53,741
54,786
55, 392
55, 239
->6,434
56, 999
55, 988
55,277
55,099
55, 588 '54,954
.do
do
do
do
29, 643
1,422
4,571
2,096
29,573
1,402
4,643
2,119
30,136
1,381
4,728
2,212
30,605
1,388
4,777
2, 238
30,868
1,414
4,739
2.17
31,742
1,478
5, 016
2,329
31, 889
1,491
5,144
2,422
30, 944
1,459
5,013
2,338
30,201
1,485
4,945
2,354
30,042
1,475
5,138
2,474
30, 402 '29,711 '29 500
1,519 ' 1, 520 1,426
4,796 ' 4, 686 ' 4, 400
2,155 ' 2, 045 1,782
3,061
3,094
2,968
5,276
5,422
5,248
3,737
3,764
3,943
7. 34 -\
7,244
7,275
3,997
3,910
4,073
1,084
1,103
1,158
' Revised.
° See corresponding note on p. S-ll; revisions for Jan.-N
ov. 1968 for mfg. iind
trade sales, total (unadj. and seas, adj.) will be shown later.
i Based o n data IK)t season.illy
adjusted.
2 Advance estimate; total mfrs. shipments for Apr. 1970 dc) not reflect revisi ons
components. § The term "business" here includes only manufa cturing and
Digitizedforforselected
FRASER
3,088
5,261
3.930
7,916
4,484
1,101
Shipments (seas, adj.), total..
.
By industry group:
Durable goods industries, total 9 .
Stone, clay, and glass products.
Primary metals
Blast furnaces, steel mills
Fabricated metal products
Machinery, except electrical
Electrical machinery
Transportation equipment
Motor vehicles and parts
Instruments and related products
do
do
do
do
do
do
55, 921
231,100
2 5, 000
2 8, 000
25, 469 '25,925 25, 301
8,506 ' 8, 717 8,426
430
438 —
407
1,722
1,761 ' 1, 862
2,386
4,243
2,167
1,571
' 2, 430
' 4, 392
' 2, 085
'1,618
2,363
4,373
2,103
1,570
54, 511
230,200
2 4, 800
3,066
3,180
3,310
3,259
3,245 ' 3, 186
5,336
5,536
5,471
5,228
5,638 ' 5, 439
3,574
3,719 '3,661 i 3,717
3,609
3,739
'
7, 600 2 7, 600
'
7,
139
7,359
7,920
7,593
6,825
3,735
3,608
3,763 ' 3, 561 3,843
4,044
1,130
1,142
1,192 , ' 1, 201
1,171
1,186
trade; business invento ries as sh own on p. S-l cc>ver data for all t ypes of producer s, both
farm £md nonf arm. Un adjusted data fo r manuf icturing are sho'wm below and on p. S-6;
those for wholt>sale and retail tr ade on p p. S-ll £ind S-12
9 Iiicludes clLata for it ems not shown s jparately
3,036
5,504
3,863
8,120
4,66'
1,182
•J. 135
f.769
.873
.248
,781
1,212
3,286
5,572
3,900
8,280
4,559
1,133
June 1970
SURVEY OF CURRENT BUSINESS
S-6
Unless otherwise stated in footnotes below, data
through 1968 and descrictive notes are as shown
in the 1969 edition of BUSINESS STATISTICS
1969
1969
1968
Annual
Apr.
May
June
July
Aug.
1970
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
GENERAL BUSINESS INDICATORS—Continued
MANUFACTURERS' SALES, INVENTORIES,
AND ORDERS— Continued
Shipments (seas, adj.)— Continued
By industry group:
Nondurable goods industries, total 9
mil. $
Food and kindred products..
do
Tobacco products
do
Textile mill products
.
do
Paper and allied products
do
Chemicals and allied products
do
Petroleum and coal products.
do
Rubber and plastics products
do
By market category:
Home goods and apparel
_. do
Consumer staples
do
Equipment and defense prod., excl. auto. do
Automotive equipment
do
Construction materials and supplies
do
Other materials and supplies
do
Suppleme ntary series:
Househo\d durables
_
do
Defe nse products (old series)...
. do
Defense products (new series)
do
Machinery and equipment
do
Inventories, end of year or month:
Book value (unadjusted), total
Durable goods industries total
Nondurable goods industries, total
do
do
do
i 55, 126 i 56, 585
U15,551 1 124, 395
i 96, 115 1 108, 355
i1 54, 048 i 57, 175
48, 587 i 54, 130
1234,291 i 254, 695
1
24, 031
i 46, 201
i 23, 917
i 68, 757
88, 239
57, 034
31, 205
i
i
i
i
25, 601
50,114
24, 511
75, 694
95, 475
63, 106
32, 369
23, 655
7,755
421
1,758
2,226
3,913
1,988
1,333
24,168
7,869
439
1,751
2,241
4,063
2,067
1,335
24,650
8,085
422
1,771
2,259
4,095
2,103
1,403
24,787
8,114
425
1,789
2,333
4,118
2,030
1,395
24, 371
8,156
432
1,785
2,234
4,100
2,071
1,352
24, 692
8, 259
442
1, 761
2,263
4,, 120
2, 138
1, 424
25, 110
8,416
423
1,841
2,285
4,178
2,065
1,542
25, 044
8,390
436
1,774
2,292
4, 255
2,155
1,449
25,076
8,624
438
1,745
2,283
4,110
2,140
1,365
25, 057
8,452
456
1,779
2,351
3,986
2,206
1,474
25,186
8,468
424
1,741
2,364
4,225
2,162
1,549
'25,243
r 8, 659
437
' 1, 812
' 2, 349
' 4, 157
4,738
9,981
8,886
4,531
4,531
20, 631
4,820
10,116
8,889
4,476
4,494
20,946
5,066
10, 322
8,864
4,650
4,452
21, 432
5,017
10,508
8,960
5,102
4,404
21,401
4,646
10, 477
9,177
5,298
4,399
21, 242
4,646
10, 562
9,303
5,422
4,520
21, 981
4,667
10, 876
9,447
5,243
4,614
22, 152
4,354
10, 827
9,459
4,647
4, 595
22, 106
4,505
11,035
9,146
4,332
4,537
21,722
4,484
10, 854
9,073
4,185
4,537
21, 966
4,368
10,904
9,505
4,370
4,539
21,902
' 4, 365
' 10, 996
' 9, 203
' 4, 175
' 4, 471
'21, 744
4,455
10, 816
9,306
4,466
4,347
21,121
2,159
2,128
4,128
4,117
2,035 ! 1,971
6,160
6,219
2,250
4,029
1,989
6,316
2,280
4,182
2,077
6,198
2,141
4,143
2,141
6,457
2,145
4,068
2,062
6,806
2,150
4, 409
2,110
6,432
1,951
4,549
2,244
6,432
1,984
4,518
2,284
6,179
1.937
3,970
1,798
6,380
1,970
4,308
1,915
6,604
'
'
'
'
'2,000 222,000
' 4, 500 4, 300
' 2, 000 2 2,000
' 6, 300 2 6, 700
92,808
60,805
32,003
92, 509
60,863
31, 646
92,682
61,113
31,569
93, 262
61,541
31, 721
93, 415
61, 643
31, 772
94, 118
62, 173
31, 945
94, 755
62, 570
32, 185
95,475
63,106
32,369
96, 271
63, 702
32, 569
97,181 '97,504
64,244 '64,599
32,937 '32,905
91, 779
59, 973
31, 806
24, 871
8,525
447
1,722
2,331
3,993
r 2, 129
2,122
' 1, 547 1,481
1, 966
4, 302
1, 947
6, 387
98, 422
65, 269
33, 153
do
88, 579
95, 905
91, 018
92,139
92, 215
93,166
93, 728
94, 211
94, 916
95, 416
95,905
96, 062
96,603 '96,916
97, 604
do
do
do
do
57, 422
2,219
7,552
4,039
63, 550
2,483
8,052
4,312
59, 426
2,391
7,682
4,121
60,222
2,390
7,764
4,200
60, 479
2,431
7,798
4,194
61,441
2,463
7,800
4,185
61,724
2,453
7,907
4,234
62, 036
2,458
7,937
4,255
62, 631
2,449
7,925
4,234
63, 076
2,471
8,009
4,272
63,550
2,483
8,052
4,312
63, 835
2,506
8,104
4,260
63,969 '64,266
2,542 ' 2, 541
8,126 ' 8, 284
4,267 ' 4, 389
64, 675
2,563
8,569
4,618
Fabricated metal products
do
Machinery, except electrical
do
Electrical machinery
do
Transportation equipment
do
Motor vehicles smd parts
do
Instruments and related productS-_do
6,287
11,310
8,560
13, 939
4,257
2,183
6,613
13, 180
9,346
15, 561
4,156
2,476
6,267
11, 946
8,762
14, 482
4,263
2,345
6,305
12,149
8,957
14,689
4,216
2,339
6,358
12,294
8,913
14, 714
4,175
2.387
6, 407
12,542
9,044
15,154
4,306
2,407
6,371
12,606
9, 086
15, 177
4,237
2,412
6,434
12, 697
9, 203
15, 129
3,944
2,416
6,478
12,909
9,307
15, 358
4,024
2,427
6,550
13, 080
9,327
15, 388
4,063
2,434
6,613
13,180
9,346
15,561
4, 156
2,476
6,660
13, 241
9, 407
15,636
4,231
2, 484
6,676 ' 6, 692
13,344 ' 13, 429
9,482 ' 9, 536
15,532 ' 15, 538
4,164 ' 4, 164
2,520 " 2, 602
6,641
13, 541
9, 585
15, 448
4,144
2, 655
16, 637
2,787
4,821
3,402
17, 572
2,824
5,556
3,293
16, 935
2,814
5,024
3,a48
17,055
2,843
5,117
3,332
17, 045
2,806
5, 143
3,291
17,159
2,760
5,140
3,444
17,011
2,800
5,169
3,206
17, 023
2, 831
5, 237
3, 090
17, 104
2,802
5,389
3,038
17, 194
2,771
5,456
3, 078
17,572
2, 824
5,556
3,293
17, 598
2,888
5,484
3,244
17,615 ' 17, 692
2,916 ' 3, 003
5,530 ' 5, 536
3,182 ' 3, 166
17, 563
3, 020
5,539
3,147
Work in process 9
do
Primary metals . _
do
Machinery (elec. and nonelec.) ..do
Transportation equipment
do
26, 357
2 547
9,472
9,162
29, 796
2,780
10, 702
10, 683
27, 463
2,609
9,948
9,657
27,872
2,612
10,102
9,854
28, 072
2,674
10, 134
9,927
28,714
2,687
10,355
10,232
28, 977
2,720
10, 405
10, 441
29, 224
2, 722
10, 495
10, 543
29, 494
2,712
10, 542
10, 749
29, 660
2,779
10, 650
10, 742
29,796
2,780
10,702
10,683
29, 987
2,818
10, 805
10, 845
30,005
2,737
10,849
10,797
'30,126
' 2, 774
' 10, 909
' 10, 832
Finished goods 9
do
Primary metals
do
Machinery (elec. and nonelec.). ..do
Transportation equipment.. _,do
14, 428
2,218
5,577
1,375
16, 182
2,448
6,268
1,585
15, 028
2,259
5, 736
1,477
15,295
2,309
5,887
1, 503
15, 362
2,318
5,930
1,496
15,568
2,353
6,091
1,478
15, 736
2,387
6,118
1, 530
15, 789
2, 384
6,168
1, 496
16, 033
2,411
6,285
1,571
16, 222
2,459
6,301
1,568
16,182
2,448
6,268
1,585
16, 250
2,398
6,359
1,547
16,349
2,473
6,447
1,553
' 16, 448 16, 782
' 2, 507 2,635
' 6, 520 6,577
' 1, 540 1,542
Nondurable goods industries, total 9 ..do
Food and kindred products
do
Tobacco products
do
Textile mill products. ..
do
Paper and allied products
do
Chemicals and allied products
do
Petroleum and coal products
do
Rubber and plastics products _
do
By stage of fabrication:
Materials and supplies
do
Work in process
do
Finished goods
_.
do
31, 157
7,370
2,261
3, 539
2,384
5,937
2,118
1,801
32, 355
7, 230
2,200
3,501
2,632
6,634
2,274
1,888
31, 592
7,293
2,203
3,581
2, 439
6,255
2,061
1,811
31,917
7,416
2,209
3,565
2,458
6,336
2,077
1,837
31, 736
7,418
2,211
3,539
2,448
6,332
2,079
1,808
31,725
7,296
2,230
3,509
2,486
6,395
2,078
1,851
32, 004
7,367
2,251
3,586
2,469
6,418
2,075
1,885
32, 175
7, 399
2, 225
3, 564
2, 513
6, 467
2, 108
1, 890
32, 285
7,292
2,240
3,524
2,581
6,526
2,156
1,879
32, 340
7,302
2,233
3,447
2,614
6,566
2,197
1,871
32,355
7,230
2,200
3,501
2,632
6,634
2,274
1,888
32, 227
7,200
2,165
3, 455
2,661
6, 551
2,320
1, 914
32,634
7,423
2,143
3,454
2,681
6,613
2,318
1,951
'32,650
' 7, 450
2,159
' 3, 435
2,682
' 6, 633
' 2, 331
' 1, 949
11, 598
4,855
14, 704
11, 792
5,100
15, 463
11, 672
4,970
14, 950
11,783
5,016
15,118
11, 704
4,946
15, 086
11,684
4,945
15,096
11,790
4,988
15, 226
11, 837
5, 028
15, 310
12, 048
5,062
15, 175
11,963
5,058
15, 319
11,792
5,100
15,463
11, 629
5,103
15,495
11,796 '11,887 11,933
5,027 ' 4, 959 4,962
15,811 ' 15, 804 16, 034
do
do
do
do
do_._
do
9,469
11, 786
22, 191
5,199
7,410
32, 524
9, 922
12, 084
25, 865
5, 277
8,001
34, 756
9,738
11, 903
23, 066
5,330
7,723
33, 258
9,850
12,039
23,582
5,323
7,714
33,631
9,696
12, 077
23, 792
5,287
7,761
33, 602
9,732
12,001
24, 349
5,449
7,832
33,803
9,832
12, 145
24,600
5,368
7,783
34, 000
9,924
12, 206
24, 979
5,086
7,831
34, 185
9,980
12, 108
25, 387
5,128
7,864
34,449
9,988
12, 152
25, 587
5,157
7,939
34, 593
9,922
12,084
25,865
5,277
8,001
34,756
9,903
12, 087
25, 884
5, 356
7,990
34, 842
9,893
12,358
25,921
5,298
8,016
35,117
' 9, 857
'12,414
'25,978
' 5, 296
' 8, 018
'35,353
9,959
12, 427
26, 105
5,276
8,039
35, 798
do
do
do
do
4,645
11,513
7,126
14, 038
5,092
13, 204
7,472
16, 305
4,867
11, 824
7,374
14, 852
4,925
4,872
12,194 ! 12, 164
7,508
7,485
15,070 15,300
4,961
12,454
7,713
15,621
5,055
12, 621
7,690
15, 662
5,121
12, 880
7,793
15, 799
5,137
13, 020
7, 759
16, 109
5,166
13, 056
7,615
16, 240
5,092
13,204
7,472
16,305
5,156
13, 101
7,472
16, 425
5,158
13,050
7,293
16,570
' 5, 165
' 12, 984
' 7, 313
'16,712
5,205
12, 864
7,329
16,893
do
607, 161
do
334, 422
do""" 272, 739
657, 780
366, 054
291, 726
56, 010
31, 896
24, 114
54,204
30,175
24,029
56, 743
31,544
25, 199
51,551
28,355
23,196
53, 001
28, 420
24, 581
58, 450
32, 671
25, 779
57, 939
31, 942
25, 997
55,274
30,334
24, 940
53,424
29,612
23,812
51, 285
27, 695
23, 590
55,869 '56,287 55, 053
30,348 ' 30, 346 '29,600
25,521 '25,941 25, 344
Book value (seasonally adjusted) total
By industry group:
Durable goods industries, total 9
Stone, clay, and glass products
Primary metals
Blast furnaces, steel mills
By stage of fabrication:
Materials and supplies 9
Primary metals
Machinery (elec and nonelec )
Transportation equipment- _ _ ,
By market category:
Home goods and apparel
Consumer staples
Equip, and defense prod excl auto
Automotive equipment
Construction materials and supplies
Other materials and supplies
Supplementary series:
Household durables
Defense products (old series)
Defense products (new series)
Machinery and equipment
New orders, net (not seas, adj.), total
Durable goods industries, total—
Nondurable goods industries, total
New orders, net (seas, adj.), total
By industry group:
Durable goods industries, total 9 ~
Primary metals
.
Blast furnaces, steel mills..
Fabricated metal products
Machinery, except electrical
Electrical machinery
Transportation equipment
Aircraft, missiles, and parts
do
do
do
do_ .
30, 330
2,914
11,010
10, 759 -
32, 929
7,447
2,155
3,468
2, 739
6,708
2,360
1, 957
2
29, 800
do
1 607, 161
657, 780
54, 635
54,133
53, 861
55, 793
54, 799
56,829
56, 917
56,242
55,362
53, 868
54,854 '53,881
-do
do
...do
334, 422
49, 790
24, 380
366, 054
58,491
27, 280
30, 944
4,806
2,307
29,998
4,772
2,246
29, 171
4,825
2,308
31,069
5,161
2,510
30,482
5,001
2,370
32, 135
5,313
2, 592
31, 795
5,300
2,571
31,188
4, 751
2,190
30,295
4,760
2,007
28, 909
4,787
2,079
29,657 '28,632 '28,700 229,500
4,419 ' 4, 500 ' 4, 800 2 4, 700
2,175
1,855 '1,951
..do
"""."do
do
do
.do
35, 276
58, 286
42, 330
86, 790
31,514
37, 692
66, 963
45, 682
89, 391
30,923
3,158
5,650
3,928
7,695
2,562
3,119
5,579
3,710
7,228
2,564
3,157
5,627
3,664
6,341
1,796
3,197
5,433
4,079
7,554
2,502
3,091
5,513
3,707
7,657
2,468
3, 340
6, 152
3, 688
7,885
2,216
3,437
5,635
4,097
7,673
2,586
3,276
5,453
3, 619
8,429
3, 279
3,384
5,548
4,110
6,995
2,723
3,024
5,390
3,667
6,414
2,201
272, 739
74, 348
198, 391
291, 726
80,293
211, 433
23, 691
6,637
17, 054
24,135
6,634
17,501
24, 690
6,748
17,942
24,724
6,856
17,868
24, 317
6,616
17, 701
24,694
6, 709
17, 985
25, 122
6,912
18, 210
25,054
6,853
18, 201
25,067
6,804
18,263
24, 959
6,799
18, 160
Nondurable goods industries, total
Industries with unfilled orders©
Industries without unfilled orders!
do
do
do
f
Revised.
1 Based on data not seasonally adju sted.
new orders for Apr. 1970 do not reflect revisions for
2 Advance estimate ; total m frs.
selected c omponeni s.
91)icludes d ata
Digitizedfor
foritems
FRASER
not shown separately.
©Includes text le mill pi oducts, 1(rather arid produ cts,
paper
and
allied
products,
and
printing
and
publis
hing indu stries; unlllled ord ers for ot her
3,116 ' 3, 159
5,551 ' 5, 121
3,786 ' 3, 633
7,230 ' 6, 671
2,815 ' 2, 695
53, 640
2,965
5,355
3,677
' 6, 500
2,157
2
7, 100
25,197 '25,249 24, 869
6,890 ' 6, 862 6,765
18,307 ' 18, 387 18, 104
nondu rable go<Dds induj>tries are zero,
HFor these i ndustries (food ai id kindn3d produ cts, toba ceo prod nets, app arel and related
produ cts, petrc leum an 1 coal products, cttemicals ind allied product s, andru ober and plastics
produ cts) sales are cons idered eciual to n iw order 3.
SURVEY OF CURRENT BUSINESS
June 1970
1968
Unless otherwise stated in footnotes below, data
through 1968 and descriptive notes are as shown
in the 1969 edition of BUSINESS STATISTICS
1970
1969
1969
Apr.
Annual
S-7
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
' 4, 435
'10,993
'T 8, 566
4, 101
' 4, 417
'21,369
4,418
10, 813
8,343
4,469
4 229
21, 368
May
GENERAL BUSINESS INDICATORS—Continued
MANUFACTURERS' SALES, INVENTORIES,
AND ORDERS— Continued
New orders, net (seas, adj.)— Continued
By market category:
Home Roods and apparel
Consumer staples
EQUIP and defense prod excl auto
Automotive equipment
Construction materials and supplies
Other materials and supplies
Supplementary series:
Household durables
Defense products (old series)
Defense products (new series)
Machinery and equipment
mil $
do
do
do
do
do
2
2
2
56, 432
2
124, 361
2
109,
397
2
57, 315
2
54
663
2
255, 612
4,750
9,969
9,305
4,665
4 642
21, 304
4,709
10,110
8,761
4,655
4 561
21,337
5,030
10, 327
8,063
4,547
4 499
21, 395
5,072
10,499
9,195
5,039
4,479
21,509
4,547
10, 470
8,720
5,310
4 459
21, 293
4,635
10, 563
9 614
5,412
4 784
21,821
4,625
10, 884
9 021
5 086
4 751
22, 550
4,283
10, 826
10 021
4,773
4 708
21,631
4,528
11,028
9 570
4 297
4 490
21,449
4,443
10, 848
8,880
4,122
4,243
21, 332
4,357
10,904
9,669
4,262
4,420
21,242
2
2
24, 120
47, 409
2
2,156
4,015
2,076
7,099
2,026
3,811
1,787
6,428
2,226
2,869
1,268
6,528
2,346
4,047
2,380
6,346
2,036
3,773
1,464
6,245
2,123
3,368
1,415
7,352
2,115
4,153
1,889
6,450
1,890
4,630
2,419
6,696
2,001
4,400
2,108
6,490
1,899
3,549
1,812
6,414
1,954
4,282
1,872
6,603
89, 796
86, 621
3,175
89, 595
86, 407
3,188
88,847
85,631
3,216
89,892
86,759
3,133
89,493
86,435
3 058
89, 952
86 918
3 034
89, 415
86, 410
3 005
88, 859
85, 854
3 005
88, 412
85, 445
2 967
88,146
85, 258
2,888
55 173
115,594
22 98 601
54 554
2 49 522
2
233^ 717
'
'
'
'
2, 036 '2,000
3, 975 '3,600
1, 558 ' 1, 500
5, 981 ' 6, 100
G9, 650
22 25, 461
47, 291
2
23, 114
2
78, 641
Unfilled orders, end of year or month (unadjusted),
total ._
- _ _ _
mil. $_
Durable goods industries, total
do
Nondur goods ind with unfilled orders© do
85, 938
82, 946
2 992
88, 412
85, 445
2,967
Unfilled orders, end of year or month (seasonally
adjusted), total .
mil. $
By industry group:
Durable goods industries, total 9
do
Primary metals __ .
_ do
Blast furnaces, steel mills
do
87, 152
89, 714
89,603
89, 986
89,058
89,456
89,014
89, 411
89, 333
89,583
89, 714
88, 488
87, 757 '86,679
84, 071
6,327
3 100
86, 668
7,726
3,921
86, 461
6,848
3,316
86, 878
6,975
3,442
85,910
7,073
3,538
86,369
7,456
3,810
85,984
7,718
4,004
86, 377
8,015
4 267
86 288
8,172
4 415
86, 530
7,909
4 267
86, 668
7,726
3 921
85, 539
7,375
3,526
84, 795 '83,715 '82,800 1 82, 100
6,998 ' 6, 813 ' 7, 200 i 7,100
3,226 ' 3, 133 3,526
10 114
14, 790
13, 210
33, 670
26 858
10, 854
17, 243
13, 512
31, 605
24, 212
9,854
15, 783
13, 461
34, 436
26, 987
10, 002
16, 113
13, 408
34, 388
26, 828
10,066
16,314
13,127
33,484
26,035
10,175
16,487
13,276
33,121
25,771
10,231
16,494
13,120
32,658
25,475
10 436
16 875
12 935
32, 297
24 957
10 588
16' 938
13 133
31, 689
24 535
10 684
16 926
13 013
32, 200
24 615
10 854
17, 243
13, 512
31, 605
24 212
10, 569
17, 099
13,606
31, 192
23, 802
10, 440
17, 010
13, 674
31,064
23,681
3,081
3,046
3,142
3,108
3,148
3,087
3,030
3,034
3,045
3 053
3,046
2,949
2,220
47,300
10, 279
27, 353
2,017
48, 515
10, 886
28, 296
2,328
48, 863
10, 124
28, 288
2,208
48, 913
10, 190
28, 675
2,176
48,006
10,237
28, 639
2,223
48,173
10,312
28,748
2,117
47,727
10,373
28,797
2,110
48 027
10 636
28, 638
2,075
47 446
10 774
29 038
2,000
48,128
10888
28 567
2, 017
48, 515
10, 886
28, 296
1,974
48, 261
10, 592
27, 661
1,966
48 316
10, 473
27,002
' 2, 031
'47 602
'10 419
'26 627
1,790
33, 108
21, 818
22, 141
1,642
30, 273
20, 419
25, 126
1,909
33, 237
22, 567
23, 627
1,805
32, 931
22, 383
23, 836
1,781
31,771
21,662
24,044
1,846
31,634
21,964
24,193
1,742
31,264
21,288
23,982
1 722
30, 565
20,641
24 527
1 686
30 308
20 420
24 549
1 625 1,642
30390 30, 273
20,595 20, 419
24,818 25, 126
1,607
29, 852
20, 433
25,160
1,593
29, 826
20, 389
25 161
' 1 663r 1 gOO 1 1 600
'29 498 '28* 500 J»28 300
'20 000 '19 500 19 400
'24 754 '24 600 !24 100
233, 635
274, 267
24, 698
23, 220
23, 694
23, 185
24t 128
23, 528
24, 015
23, 554
20, 990
22,967
21, 498
23, 138
25 059
24 046
19 109
23 308
22 849
22, 137
9,636
1,106
1 670
1,513
4 366
981
9,154
1,159
1 590
1,493
4 070
842
823
109
148
142
363
61
812
105
157
122
360
68
792
109
148
126
324
85
689
113
131
113
283
49
702
86
126
108
303
79
726
90
124
110
338
64
815
90
145
136
350
94
759
115
134
131
313
66
748
87
105
146
351
59
940, 996 1,142,113 118, 761
9,068
87 289 126 537
212, 459 171,717 18, 679
291, 700 406, 450 57, 845
220, 223 265, 122 17,471
129, 325 172, 287 15, 698
92, 605
7,917
20, 543
33, 043
20, 455
10, 647
91,921
20 430
10, 735
24, 026
22 774
13, 956
112,727
8,047
19,457
63, 474
17, 189
4,560
62, 830
4 347
10, 293
19, 252
17 851
11,087
36.9
39.8
34.9
36.0
do. _
do
do
do
Fabricated metal products
Machinery, except electrical
Electrical machinery
_.
Transportation equipment
.
Aircraft, missiles, and parts
do
do
do
do
do
Nondur. goods ind. with unfilled orders®_-do __
By market category:
Home goods, apparel, consumer staples . do
Equip, and defense prod., incl. auto
do
Construction materials and supplies . do__
Other materials and supplies
do___
Supplementary series:
Household durables
do _
Defense products (old series)
do ...
Defense products (new series)
do
Machinery and equipment- .
do
» 1,900
14,000
12,000
16,300
87,765 '86,944 86,077
84, 827 '83,991 '83,100 1 81, 800
2,938 ' 2, 953 2,997
85, 813
'10,414 10 314
' 16, 692 16 712
' 13, 647 13, 606
' 30, 595 '29,500 1 29, 000
'23 420 22 447
2,962 ' 2, 964
2,966
1 993
46 645
10 301
26 874
BUSINESS INCORPORATIONS^
New incorporations (50 States and Dist. Col.):
Unadjusted
_ ._
number
Seasonally adjusted
_ _ _ _
_ _ do _
INDUSTRIAL AND COMMERCIAL
FAILURESd"
Failures, total
_ _
number
Commercial service _
.
d
o
Construction
do
Manufacturing and mining
do
Retail trade
do
Wholesale trade
do
Liabilities (current), total..
Commercial service
Construction
Manufacturing and mining
Retail trade
_
Wholesale trade
thous. $..
do
do
do. .
. do
do
Failure annual rate (seasonally adjusted)
No. per 10,000 concerns.
238.6
2
37. 3
36.4
73, 698 116, 443 127, 138
9 416 13 696
7 938
10 173 21 151 13 033
18,412 28 532 42 799
24 016 34 647 °1 192
11 681 18 417 42 176
39.9
39.5
40.9
275
' 211
' 262
r 163
166
152
r 244
615
'331
' 342
r 409
' 165
277
' 294
183
165
157
228
' 612
'329
' 351
r 402
T 163
'282
' 221
' 362
180
162
158
r 221
24 407 '21 796
22, 072 '23 249
734
84
114
140
342
54
817
84
155
164
335
79
22 901
21 179
921
113
153
180
394
81
992
137
174
167
419
95
96, 849 137, 282 139,388 120, 021 131, 898
18 505 37 608
7 770
7 679 21 137
6 968 20 835 36 504 13 258 17 978
39 162 42, 260 66* 589 46 399 39 958
21 800 24 979 21 655 30 333 32 972
10 414 11 600
6 870 22 352 19 853
38.2
33.7
39.4
40.1
43 7
'284
T 215
287
r 217
'289
221
r 333
171
169
159
r 215
289
221
' 329
175
167
157
281
220
301
180
167
161
COMMODITY PRICES
PRICES RECEIVED AND PAID BY
FARMERS
Prices received, all farm products*
Crops?
_
Commercial vegetables
Cotton
Feed grains and hay
Food grains
Fruit
._
Tobacco. . _
Livestock and products9
Dairy products
Meat animals
Poultry and eggs
1910-14=100__
do
do
do
do
do "
do
do
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 rates (parity index)
1910-14=100..
Parity ratio §
do
261
229
'302
192
159
160
'316
567
288
318
346
142
'275
'220
'298
173
166
154
' 252
594
'323
'331
'400
' 162
310
335
090
355
'270
' 223
'297
' 175
167
156
r 251
585
'311
318
'278
' 227
'324
170
173
157
r 257
585
321
r 313
419
'281
' 221
' 280
' 183
170
142
r 280
r 260
585
329
310
r 435
r 593
332
317
r 425
'277
' 217
' 267
173
167
145
r 254
' 606
330
325
r 388
r 151
r 137
r 141
r 162
r 421
r 156
324
351
304
322
349
303
325
351
306
326
351
308
325
352
305
324
352
304
373
373
375
376
374
374
73
74
'74
'72
mn,£ievlse* ' a v Prelimmary.
i Advance estimate; total mfrs. unfilled orders for Ap
1970 do not reflect revisions for selected components.
2 Based on unadjusted data.
0 8<
corresponding note on p. S-6.
9 Includes data for items not shown separately.
'281
' 226
'280
180
173
151
'75
r 215
r 318
169
164
159
216
'336
161
168
158
r 207
r 601
r 603
'334
355
398
'343
r 354
410
' 200
' 600
346
351
420
197
r 186
r 217
r 203
'348
' 344
436
181
r 603
'346
r 336
442
170
603
'334
334
r
429
147
282
233
380
187
171
160
228
603
324
329
418
133
332
362
311
334
364
313
334
365
312
385
388
388
r 603
325
326
oefi
oc7
328
330
OfJJ
one
306
307
309
333
362
312
375
376
378
378
383
386
oej
OCR
327
Ofifl
'74
73
74
7*
'75
75
75
75
72
73
7fi
d* Compiled by Dun & Bradstreet, Inc. (failures data are for 48 States and Dist. Col.).
§ Ratio of prices received to prices paid (parity index).
J Revisions back to Jan. 1966
are available from the Dept. of Agriculture, Statistical Reporting Service.
SURVEY OF CURRENT BUSINESS
S-8
Unless otherwise stated in footnotes below, data
through 1968 and descriptive notes are as shown in
the 1969 edition of BUSINESS STATISTICS
1968
June 1970
1969
1969
Annual
Apr.
May
June
July
Aug.
1970
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
COMMODITY PRICES—Continued
CONSUMER PRICES
(U.S. Department of Labor Indexes)
Unadjusted indexes:
All items
Speclal group indexes:
All items less shelter .
All items less food
All items less medical care
1957-59=100..
121.2
127.7
126.4
126.8
127.6
128.2
128.7
129. 3
129.8
130.5
131.3
131.8
132.5
133.2
134.0
134. (
... do. ._
do
do
120.6
121.9
119.7
126.3
128.6
126.1
125.0
127 5
124 7
125.4
127.9
125.2
126.3
128.4
126.0
126.7
128.8
126.5
127.1
129.3
127.0
127. 6
130.0
127. 6
128.1
130.8
128.2
128.6
131.4
128.9
129.5
131.9
129.7
129.8
132.3
130.1
130.3
133.0
130.8
130.7
133.8
131.5
131. 5
134 8
132 2
132. ]
135. (,
132.
do
do
do.. _
do
do
.do.. .
do
115.3
118.4
117.7
107.5
113.2
134.3
138.6
120.5
124.1
123.0
111.6
118.0
143.7
149.2
119.3
122.5
121.9
111 4
117.2
142.0
147.4
119.6
123.0
122.4
111 3
117.5
142.7
148.1
120.5
124.1
123.0
111.7
118.0
143.3
148.8
121.0
124.7
123.1
111.9
118.1
144.0
149.6
121.4
125.2
123.3
111.9
118.2
145.0
150.7
121. 7
125. 8
124. 4
111. 6
118. 7
146.0
151. 7
122.4
126.1
125.1
113.2
119.8
146.5
152.3
122.9
126.7
125.5
113.5
120.2
147.2
153.1
123.6
127.7
125.7
113.6
120.3
148.3
154.3
123.7
127.8
125.2
113.7
120.1
149.6
155.8
124.2
128.4
125.8
113.7
120.4
150.7
157.1
124.5
128.7
126.1
114. 1
120.8
152.3
158.9
125.2
129 3
127 0
114 8
121 6
153 4
160 1
125. *
129. i
127. (
115.
122.,
154.
161. (
Food 9
..
.do
Meats, poultry, and
fish
do
Dairy products
do
Fruits a n d vegetables .
_ _ _ _ _ --do
Housing
_ _ __
do
Shelter 9
do
Rent
do
Homeownership
_ _ _.do_ _ _
Fuel and utilities 9
do
Fuel oil and coal
do
Gas and electricity
do
Household furnishings and operation... do
Apparel and upkeep _.
do
Transportation
do
Private _
_ _ do. _
New cars..
.do
Used cars
do
Public
_
do. _
Health and recreation 9
. _. do _.
Medical care
do
Personal care
.
do
Reading and recreation
__do
119.3
113.7
120.6
126.8
119.1
123.6
115.1
127.0
110.4
115.1
109.5
113.0
120.1
119.6
117.3
100.8
125. 5
123.2
124 5
128.4
126.7
133 6
118 8
139.4
112.9
117 8
111 5
117.9
127.1
124 2
121 3
102.4
125 3
148 9
136 6
155 0
126 2
130 5
123.2
118.4
122 9
127.9
125.3
131 6
117 8
137.1
112 6
117 4
111 2
116.9
125 6
124 6
121 9
101 9
131 2
148 0
135 1
153 6
125 5
129 6
123.7
119.9
123.6
130.0
125.8
132 4
118.1
138.0
112.6
117 5
111.2
117.4
126.6
124 0
121 2
101 8
126 8
148 0
135 7
154 5
125 8
130 2
125.5
125.3
124.0
130.8
126.3
133 0
118 5
138.7
112.7
117 5
111 3
117.9
127.0
124 6
121 8
101.8
128 2
149 1
136 3
155.2
126 2
130 4
126.7
127.6
124.4
132.3
127.0
134.0
118.8
140.0
112.6
117.4
110.9
118.2
126.8
124.3
121.4
101.6
127.0
149.5
137.0
155.9
126.6
130.7
127.4
127.9
125.0
130.2
127.8
135.1
119.3
141.3
113.0
117 7
111.5
118.5
126.6
124 2
121 3
101 0
125 4
149 7
137 7
156 8
126 8
131 2
127. 5
129. 0
125. 5
126. 8
128. 6
136. 1
119. 7
142. 6
113.3
118.1
112.0
119.0
128. 7
123.6
120.5
99.5
121.4
150.3
138.4
157. 6
127.3
131.6
127.2
127.6
125.8
124.0
129.2
137.0
120.1
143.6
113.5
118.4
112.2
119.3
129.8
125.7
122.8
104.2
125.8
150.3
138.6
156.9
127.3
132.0
128.1
127.2
126.3
127.0
129.8
137.7
120.5
144.5
114.2
118.9
113.2
119.6
130.7
125 6
122.7
105.1
124 9
151 1
139 1
157.4
127 8
132 3
129.9
127.2
127.6
132.1
130.5
138.5
121.0
145.4
114.6
119.2
113.7
120.0
130.8
126.4
123.4
104.9
123.9
153.0
139.6
158.1
128.1
132. 7
130.7
128.8
128.4
130.9
131.1
139.6
121.3
146.8
114.6
119.7
114.1
120.1
129.3
127.3
123.3
104.7
120.7
165.1
140.1
159.0
128.5
133.1
131.5
129.7
128.8
132.4
132.2
140 9
121.8
148.5
114.9
120 6
114 6
120.8
130.0
127 3
123 3
104 6
117 8
165 4
140.7
160.1
129.0
133.2
131.6
130.2
129.4
133.1
133.6
142 8
122 3
150 9
115.6
120 8
114 8
121.6
130 6
127 l
123 0
104 4
117 6
165 8
141 4
161 6
129 6
133 6
132 0
130 9
129 5
134 7
134 4
143 7
122 6
152 1
116 3
120 9
115 7
122.0
131 1
128 9
124 9
104 3
121 1
165* 8
142 3
162 8
1 90 Q
132. <
130.
129.
136.
135.
144
123.
153.
116.
121 (
115 J
122.
131. <
129 (
125
104.
127
166
142
163
130
135
108. 1
i1 103. 1
111 8
105 6
100 5
109 3
107.6
103.7
110 4
109 1
105 6
111 6
109.1
104.5
112.4
110 9
105 2
115 0
111.6
103. 6
117.4
111 3
105 4
115 6
111 9
106 8
115 6
112.3
105.6
117.2
113.8
106.2
119.4
114.3
106.6
120.0
114.6
108.4
119.2
114.0
107.5
118.7
112.
105.
118.
Commodities
Nondurables
Nondurables less food
Durables 9
Commodities less food
Services .
.
Services less rent
.
. . .
138.2
130.0
145.0
120.3
125.7
•I VA
A
WHOLESALE PRICESo1
(U.S. Department of Labor Indexes')
Spot market prices, basic commodities:
22 Commodities..
1957-59=100
9 Foodstuffs
.
do
13 Raw industrials
do
195.7
192.8
197.8
1
do
' 108. 8
113.0
111 9
112.8
113.2
113.3
113 4
113.6
114 0
114.7
115.1
116.0
116.4
116.6
116.6
116.
do
do
do
do
do
•• 101. 2
108.0
111.3
109.9
r
115. 5
107.9
111.8
115 3
114.0
119.3
105.7
111 4
113 8
112. 3
118 1
109.7
111 4
114 7
113.5
118.5
111.2
111 4
115 4
114.2
118 7
110.2
111.4
115 9
114.8
119.3
109.5
111 9
115 7
114.4
119 3
108. 7
112.4
116.0
114.7
119.9
108.7
112 8
116 5
115.1
120 8
109.0
113 1
117 6
116.2
121.5
109.9
113.5
118.0
116.5
122.3
110.7
114.4
118.8
117.3
122.9
113.0
114.7
118.8
117.3
123.1
114.2
114.8
119.0
117.4
123.5
113.4
115.3
118.6
116.8
123.7
112.
115.
118.
117.
124.
By durability of product:
Durable goods.
Nondurable goods.
Total manufactures
Durable manufactures
Nondurable manufactures
do
do
do
do
do
111.8
106.5
r 109.5
«• 112. 1
106.9
116.6
110.3
113.3
116.6
110.1
116 0
108 8
112 4
116 2
108 9
116.1
110.3
112 8
116.2
109.6
115 9
111 2
113 2
116 0
110 6
116.1
111.3
113.5
116.1
111.0
116 5
111 1
113 6
116 4
111.0
117.1
111.1
113.9
117.0
111.0
117.9
111.2
114 6
117 9
111.4
118.4
111.9
114.9
118.3
111.6
119.0
112.4
115.3
118.8
111.9
119.6
113.4
116.1
119.4
113.0
120.0
113.9
116.4
119.7
113.2
120.5
113.9
116.6
120.1
113.2
120.9
113.6
116.9
120.5
113.4
121.
113.
117.
121.
113.
Farm prod., processed foods and feeds
do
A. 11 commodities ©_.
_ __
By stage of processing:
Crude materials for further processing
Intermediate materials, supplies, etc
Finished goodsO
Consumer finished goods
Producerfinishedgoods
.
' 107. 7
113.5
110.9
114.1
115.5
115.5
114.6
114.3
114.3
115.7
116.4
118.2
118.7
118.8
117.6
117.
Farm products 9 .
do
Fruits and vegetables, fresh and dried-do
Grains.
do
Live poultry
do
Livestock
do
102.2
' 108. 3
81.9
84.9
104.8
108.5
111.0
83.3
89.8
118.3
105 6
106.8
83 1
87 0
113 8
110.5
126.7
86.7
90 7
123.0
111 2
112.9
85 6
89 8
130 4
110.5
103.1
83.7
90.2
126.8
108 9
106.7
81 9
92 3
123 6
108. 4
103. 4
83.4
89. 0
119.2
107 9
101.3
84 8
85 3
118.7
111.1
125.3
81.7
86.3
116.6
111.7
112.4
82.9
86.9
120.2
112.5
116.6
85.9
94.8
117.3
113.7
117.2
85.9
87.1
124.9
114.3
118.2
85.5
90.8
129.6
111.3
112.7
87.8
82.8
124.8
111.
123.
88.
83.
122.
Foods and feeds, processed 9
Beverages and beverage materials
Cereal and bakery products.
Dairy products
Fruits and vegetables, processed.
Meats, poultry, and
fish
' 114. 2
' 109. 5
127.7
«• 114. 2
108.3
119.8
112.9
120.2
131.9
115.7
119.5
117 3
111 4
119 3
131 4
115.4
114 0
119.4
111.8
119.4
132.5
115.7
121.0
121 4
112.4
119.7
133 0
115.6
126.5
122.0
112.6
119.9
133.0
116.6
127.5
121 5
112 6
120 1
133 0
116.8
124 5
121.3
113.1
120. 4
133. 4
116.6
122. 9
121.6
115.0
121.2
130.7
116.0
120.2
121.8
116.0
121.9
131.2
116.3
120.5
122.6
116.1
122.0
133.9
116.4
121.9
125.1
117.4
122.3
133.9
116.9
125.8
125.2
118.3
123.3
134.1
117.3
124.9
124.9
118.4
123.7
133.1
116.5
127.1
124.9
118.8
124.6
135.1
117.5
124.9
124.
120.
124.
135.
118.
122.
109.0
112.7
112 1
112.2
112.2
112.4
112 8
113.2
113.8
114.2
114.6
115.1
115.5
115.8
116.2
116.
100.
91.
98.
94.
109.
146.
104.
136.
104.
Industrial commodities
Chemicals and allied products 9
Agric chemicals and chem. prod
Chemicals, industrial
Drugs and Pharmaceuticals
Fats and oils, inedible
Prepared paint .
do
.do ..
do _
do
do
do
r 118.
do
98.2
'99.6
98.4
93.3
73.9
114.6
98.3
89.8
97.7
93.8
88.7
119.2
97 9
92.1
96 7
93 7
83 7
118 7
98.1
92.1
96.9
93.8
83.3
118.7
98.3
92.1
97.0
93.8
86.8
119.2
98.2
88.6
97.7
93.8
90.5
119.2
98.7
88.4
98 2
93.8
99.3
119 2
98.9
87.4
98.2
94.0
102. 1
119.2
98.6
86.3
97.6
94.0
98.9
120.3
98.9
86.7
97.8
94.2
100.5
120.3
98.8
86.7
97.8
94.6
92.8
120.3
99.1
87.6
97.9
94.5
95.0
121.7
99.5
91.4
97.7
94.6
94.3
122.0
100.0
92.0
97.3
95.0
102.2
122.8
100.4
92.4
97.9
94.7
107.6
122.8
«• 102. 5
104.6
116.2
102.7
124.5
101.8
104.5
112 8
102 3
121 8
102.5
104.5
113.5
102.5
121.6
102.4
105.0
114.2
102.6
121 8
103.3
105.0
115.4
102.5
121 6
103.2
104.7
115 5
102 4
121 8
102.5
104. 7
115.9
103. 5
123. 0
101. 8
105.4
120.6
103.7
128.7
101.6
105.5
123.5
103.4
128.8
101.6
106.1
124.6
103.4
131.8
102.2
105.6
125.4
103.4
132.4
101.0
106.4
131.7
103.6
135.2
101.2
106.3
133.4
103.6
135.0
100.8
107.5
145.9
103.7
136.2
101.3
_do _.
do
do
do
.do _.
do
Fuels and related prod., and power 9
do...
Coal
do
Electric power..
Jan. 1958=100
Gas fuels .
do
Petroleum products, refined
1957-59=100.
1
r 107.
r
1
101. 6
r 123.
9
100.3
r 103. 9
106.1
Furniture and household durables 9
do
105.8
105.9
105.9
93.0
Appliances, household.. _.
,do _ .
93.0
93.0
'91.8
92.9
122.3
Furniture, household
do
r 117. 3
121.5
121.9
122 3
78.2
Home electronic equipment
do
78.5
81.0
78.1
78.1
r
Revised.
* Preliminary.
1 Computed by OBE.
9Includes data for items not
shown separately.
cfFor actual wholesale prices of individual commodities, see respective
108.
107.9
108.3
108.1
107.5
107.2
106.5
106.9
106. 4
106.1
106.2
94.
94.4
94.8
94.4
94.7
93.6
93.6
93.0
93.1
93.0 1 93.0
125.
125.6
125.3
125.1
124.3
123.6
123.3 I 123. 6
123. 0
122.8
123 0
77.
77.0
77.2
77.2
77.2
77.7
77.8
77.9
77.9
77.9
77.9
commodities.
® Monthly data corresponding to revised annuals for 1968 will be available
later.
O Goods to users, incl. raw foods and fuels.
SURVEY OF CURRENT BUSINESS
June 1970
Unless otherwise stated in footnotes below, data
through 1968 and descriptive notes are as shown
in the 1969 edition of BUSINESS STATISTICS
1968
1969
Annual
S-9
1970
1969
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
COMMODITY PRICES—Continued
WHOLESALE PRICEScf— Continued
(U.S. Department of Labor Indexes— Continued)
All commodities©— Continued
Industrial commodities — Continued
Hides, skins, and leather products 9
1957-59=100..
Footwear
do._ _
Hides and skins
do
Leather
do
Lumber and wood products
do
Lumber
- do
119.5
128.0
'99.9
112.6
'119.4
' 127. 3
125.8
133.2
116.9
119.9
132.0
142.6
126.0
131.9
125.8
122.3
143.3
164.9
126.1
132.1
122.6
121.7
138.0
155.9
125.7
132.3
117.4
121.5
129.8
142.3
126.4
132.7
123.0
121.2
125.3
133.4
126.4
132.7
123.1
121.0
124.0
131.1
128.2
134.9
128.7
121.7
123.2
129.5
127.4
135.2
118.0
120.3
122.6
128.0
126.8
135.5
110.4
119.6
123.9
129.3
126.5
135.0
108.9
119.7
122.5
128.2
126.6
135.9
102.8
119.6
121.6
126.9
126.7
136.9
101.1
117.3
120.2
124.1
126.8
136.9
99.4
118.2
119.5
123.3
128.5
138.4
106.6
120.4
120.1
123.5
127.9
137.8
101.8
120.4
121.0
124.3
118.0
131.8
134.1
104.3
131.8
118.3
131.9
134.3
104.5
132.1
118.6
132.0
134.5
104.7
132.3
119.0
132.3
134.8
104.8
133.3
119.1
132.3
134.9
104.7
133.5
119.9
133.0
136.1
105.4
134.4
120.5
133.2
137.7
105.6
135.4
121.0
135.8
138.6
106.0
136.5
121.9
136.4
139.8
106.2
138.0
122.5
136.7
140. 2
106.8
138.6
122.8
137.2
140.3
106.9
139.3
123.1
137.1
140.6
107.2
139.8
123.4
137.3
140.8
107.3
140.3
123.7
137.4
140.9
107.5
141.3
122.4
98.7
113.7
144.8
122.9
99.3
113.7
146.4
123.8
99.7
113.9
150.1
124.9
99.7
114.6
152.8
126.1
99.9
117.0
152.8
127.0
100.5
117.7
153.4
127.8
101.3
117.3
157.1
128.7
101.7
118.9
157.2
Machinery and equipment?
Agricultural machinery and equip
Construction machinery and equip
Electrical machinery and equip
Metalworking machinery and equip
do
do
do .
do
do
'115.4
' 128. 7
119.0
132.8
135.5
104.8
133.4
Metals and metal products 9
Heating equip ment
Iron and steel
Nonferrous metals
do___
do
do
do.
112.4
'95.2
' 105. 6
' 125. 1
118.9
97.6
111.0
137.4
116.5
96.8
108.9
132.4
117.5
97.0
109.9
134.2
117.9
97.2
110.3
135.5
118.7
97.7
111.1
136.1
120.4
97.7
112.7
139.5
121.7
98.0
113.2
143.5
Nonmetallic mineral products 9
do
Clay prod., structural, excl. refractories
do
Concrete products
_ _
do...
Gypsum products
do
Pulp, paper, and allied products
do._ Paper
_. _. __ _ _
do
Rubber and plastics products §
do
Tires and tubes
do
' 108. 2
112.8
112.3
112.6
112.8
113.0
113.0
113.5
113.8
113.9
114.5
116.5
116.9
117.3
117.8
117.9
' 113. 3
108.1
'106.5
'104.9
'112.2
' 100. 2
'98.7
117.0
112.2
106.4
108.2
116.6
102.1
98.2
116.7
111.3
106.2
108.0
116.4
101.2
96.3
116.8
111.6
108. 7
108.1
116.7
101. 1
96.3
116.9
111.6
108.7
108.3
117.0
101.2
96.3
116.9
112.3
104.9
108.4
117.1
102.5
98.4
117.0
112.4
103.2
108.7
117.2
103.0
99.2
117.5
113.2
106.1
108.8
116.5
102.7
99 2
117.8
113.5
105.9
109.0
116.5
103.5
100.6
118.5
113.6
109.8
109.3
117.0
104.4
101.7
118.5
114.2
104.3
109.5
117.4
104.5
101.7
119.4
115.9
107.3
111.1
120.3
104.7
101.7
119.4
116.4
108 3
111.8
121.5
104 6
101 7
119.8
117.0
107.0
112.1
121.6
104.4
101.7
120.9
117.2
105.6
112.5
121.6
104.2
101.7
121.2
117.4
104.0
112.3
121.6
104.2
101.7
Textile products and apparel 9
Apparel
Cotton products
._
Manmade fiber textile products
Silk yarns
. Wool products.. _. .
.
' 105. 8
' 110. 6
' 105. 2
90.8
183.0
103.7
108.0
114.5
105.2
92.2
169.7
104.6
107.1
113.0
104.5
92.4
155.4
104.3
106.9
112.9
104.6
92.6
157.9
104.3
107.2
113.3
104.5
92.7
164.6
105.0
107.7
113.9
105.3
92.6
168.2
105.0
108.7
115.8
105.7
92.7
177.1
104.8
109.0
116.2
105.9
92.1
181.2
105.0
109.1
116.5
105.8
91.6
183.9
104.5
109.2
116.7
106.0
91.5
184.6
104.6
109.2
116.9
106.1
91.1
191.1
104.3
109.5
117.2
106.1
91.5
193.5
104.3
109.4
117 5
106 1
91 0
196 3
104 3
109.5
117.9
105.8
90.4
194.2
104.4
109.3
117.9
105.8
89.9
201.3
104.0
109.3
118.0
105.8
89.5
204.8
103.8
Transportation equipment 9 Dec. 1968=100..
Motor vehicles and equip
1957-59 = 100.. ' 105. 1
Miscellaneous products 9
do
' 111.7
108.3
Toys, sporting goods, etc .
do ..
Tobacco products
do
115.2
100.7
107.0
114.7
111.3
120.8
100.1
106.4
112 7
110.8
116.9
100.2
106.5
112.8
110.7
117.0
100.3
106.6
115.1
110.9
123.2
100.4
106.6
115.5
111.2
123.4
99.9
106.0
115.9
111.8
123.5
100.0
106.1
116.4
112.1
123.8
102.3
108.7
116.7
112.3
123.8
102.7
109.0
117.0
112.8
124.0
102.7
109.0
117.0
112.7
124.0
102.9
109.1
117.4
114.1
124.0
102 9
109.1
117 5
114 2
124.0
103.2
109.4
117.8
115.3
124.1
103.1
109.3
117.8
115.0
124.1
103.2
109.4
118.2
115.1
124.1
$0. 885
.783
$0. 894
791
$0. 887
789
$0. 883
.784
$0.883
.780
$0. 882
.777
$0. 880
774
$0. 877
.770
$0. 872
.767
$0. 869
.762
$0. 862
.759
$0. 859
.755
$0. 858
.751
$0. 858
.746
$0. 856
.743
do
do
do. _
do
do. do. _
' 127. 2
' 130. 2
' 103. 1
PURCHASING POWER OF THE DOLLAR
As measured byWholesale prices
Consumer prices
1957-59=$!. 00.. ' $0. 919
do
825
CONSTRUCTION AND REAL ESTATE
CONSTRUCTION PUT IN PLACE
New construction (unadjusted), total
mil. $
Private, total 9
_
Residential (nonfarm) ... _
New housing units
do
do
do
Nonresidential buildings, except farm and public utilities, total 9
mil $
Industrial.. _ _
do
Commercial
do
Public utilities:
Telephone and telegraph
do
84 690 ' 90 866 7 310
' 8 481 ' 8 514 ' 8 600 ' 8 210 ' 7, 877 ' 6 941 6,035
5,825 ' 6, 402
7,149
7 955
8 384
56 996
28 823
22 423
62 806
' 30' 603
23 689
4 947
2 540
1 916
5 394
2 810
2 076
5 693 ' 5 845 r 5 842 ' 5 919 ' 5 808 ' 5 493 ' 5 089 4,261
2 962 ' 2 974 ' 2 880 ' 2 763 ' 2 648 ' 2, 492 ' 2 266 1,905
1,495
2 082
1 984 1 797
2 124
2 267
2 186
2 243
' 4, 041 ' 4, 457 4,777
' 1, 693 ' 1, 876 2,123
1,625
' 1 300' 1, 452
18 800
5 594
8 333
22 033
6 373
10 136
1 625
'471
1 742
1 829
1,623
438
750
1 627 ' 1, 769 1,801
'458
516
415
810
'841
763
T
720
503
783
535
850
1 946
562
908
2 013
2 200
2 169
558
936
1 033
1,025
621
613
2 076
569
982
1 942
575
889
1 704
2 172
166
173
183
186
190
204
222
200
226
do
27 694
28 060
2 363
2 561
2 691
2 636
2 672
2 681
2,402
2 384
1 852
Buildings (excluding military) 9
Housing and redevelopment
Industrial
do
do
do
10 445
11 226
1 047
1 008
111
46
1 062
1 067
512
60
61
996
75
30
940
73
44
970
89
37
868
82
42
921
95
36
780
80
41
800
78
41
' 801
75
35
834
118
36
Military facilities
Highways and streets
do
do
824
945
88
917
67
950
95
88
892
76
822
73
600
61
483
54
500
53
581
56
9 276
84
821
83
9 295
89
696
' 89 9 ' 91 1 ' 90 8 ' 88 9 ' 89 5 '89.9
89.1
Public, total 9
New construction (seasonally adjusted at annual
rates), total
bil. $
Private, total 9 ...
.
do
Residential (nonfarm)
do
Nonresidential buildings, except farm and public utilities, total 9 . .
bil. $
Industrial
do
Commercial
do
Public utilities:
Telephone and telegraph
do
Public, total 9
Buildings (excluding military) 9
Housing and redevelopment ...
Industrial.
Military facilities
Highways and streets
' Revised.
» Preliminary,
cf See corresponding note on p. S-8.
data for items not shown separately.
*746
517
85
54
1 064
1 023
155
174
218
1,774 ' 1 784' 1 945 2,372
45
92 8
92 4
91 5
90 8
90.7
'90.3
63 0
63 7
63 0
' 63 2
62 4
r
63 7
'63 7
' 61 9 ' 61 6 '61.8
62.1
'62.3
60.7
33 0
33.0
31.6
30 3
'29.3
r
29 2
'29 4
' 28 9 ' 28 6
27.8
27.4
'27.7
27.6
20.2
59
9 1
20.6
59
9 3
21.2
6 0
10.0
22.4
22.7
6.4
23.8
23.7
6.4
6.7
6.9
22.8
10.4
10.3
11.1
10.9
10.2
10.3
23.3
6.4
11.0
24.0
6.0
11.7
23.8
'5.9
' 11.8
22.4
6.4
10.2
27 6
27 5
27 4
27 1
27 0
r 27 9
28 1
28 6
28 0
28 4
2 0
2 1
2 0
do
29 7
28 7
28 4
do
do
do
do
do
12 7
14
12 2
11 4
.5
12
9.1
©See corresponding note on p. S-8.
1.2
.6
10
8.9
9 Includes
8
.6
10
8.9
6.6
22.6
6.4
10.5
10.6
11.0
10 7
10 8
10 9
10 5
1l
11
1.0
.7
.8
.9
'.9
10
5
.4
.5
.4
.6
.4
.5
.4
.5
.5
9
9
9
.7
8
8
8
.9
.9
.9
9.3
8.8
8.9
9.3
9.6
10.5
10.3
11.1
§ Beginning Jan. 1970, retitled to read "rubber and plastics products" to cover the direct
pricing of plastic construction products; continuity of the group index is not affected.
10.9
SURVEY OF CURRENT BUSINESS
S-10
Unless otherwise stated in footnotes below, data
through 1968 and descriptive notes are as shown
in the 1969 edition of BUSINESS STATISTICS
1968
| 1969
1969
Apr.
Annual
June 1970
May
June
July
Aug.
1970
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
CONSTRUCTION AND REAL ESTATE—Continued
CONSTRUCTION CONTRACTS
Construction contracts In 48 States (F. W. Dodge
Division, McGraw-Hill):
Valuation, total
.
mil. $ i 61, 732
Index (mo. data seas, adj.)
67, 827
5,895
7,081
6,443
6,298
6,523
5,140
6 240
4,406
5,228
4,928
5,249
6 140
2173
193
183
210
186
180
216
173
195
178
218
205
215
208
203
mil. $
do
1 19, 597
i 42, 135
22,858
44,969
1,791
4,104
2,536
4,545
2,326
4,118
2, 352
3,947
2,605
3,918
1, 719
3 420
1,626
4 615
1,427
2,980
1,727
3,501
1,433
3,495
1,652
3 597
2,069
4 071
1,791
4 966
do
o
do__
* 22 513
124 838
1 14 382
26,085
2,136
2,546
2,680
2,620
1,213
1,780
2,357
2,548
1,538
2,402
2,296
1,600
2,460
2,394
1,669
2 013
1, 952
1 175
2,502
2,290
1 449
1,566
1,675
1,165
2,168
1,744
1,317
2,252
1,475
1,201
2,269
1,482
1,498
2 191
1,974
1 975
2,413
2,466
1,878
do
52 419
57, 164
3 738
4,572
4,267
4,368
4,167
3,858
7,124
6,878
5,486
5,655
4,092
4,989
5,857
1,499.9
1,096.8
159.9
117.8
159 0
85.0
157.7
114.5
155.5
91.3
150.8
109.1
147.3
82.7
126.5
91.0
125.2
73.5
127.6
91.4
124.9
69.5
132.9
93.9
129.3
71.5
125.8
91.2
123.4
68.0
97.4
68.1
94.6
55.1
85.3
63.7
84.1
42.8
69.2
'52.0
66.4
33.4
77.0 ' 117. 8 ' 129. 0 123.2
'55.3 '86.9
87.0
74.3 ' 114. 7 ' 127. 2 120.9
73.5
41.4 '61.9 '73.1
1 505
1957-59=100.
Public ownership
Private ownership
By type of building:
Nonresidentlal .
Residential
.
Non-building construction
_.
New construction planning
(Engineering News-Record) O
d
25, 590
16, 152
6,757
6,457
HOUSING STARTS AND PERMITS
New housing units started:
Unadjusted:
Total (private and public) . ..
Inside SMSA's
Privately owned
One-family structures
thous
do..
do
do
Seasonally adjusted at annual rates:
Total privately owned
One-family structures
1 5455
1,116.1
1 507 7
899.5
1,466 8
810.6
do
do
New private housing units authorized by building
permits (13,000 permit-issuing places) :
Seasonally adjusted at annual rates:
Total
thous
One-family structures
do
Manufacturers' shipments of mobile homes:*
Unadjusted
do
Seasonally adjusted at annual rates
do
1 533
797
877
1,507
826
1,429
803
1,376
752
1, 481
828
1,390
766
1,280
762
1,402
776
1,059
577
1,306
725
' 1, 392 '1,215
'691
'708
1,200
715
1,300
1,502
1,323
617
659
632
1,340
631
1,228
570
1,245
570
1, 201
565
1,183
574
1,191
596
1,239
639
1,013
469
1,137
562
1,099 '1,263
'603
552
1,352
607
318.0
412.7
36.0
34.6
391
36.4
395
35.2
413
38.1
408
40 1
417
43 4
454
32.7
452
27.2
403
23.7
383
23.8
338
29. 3
344
39.6
442
131
142
139
139
141
143
143
IIQ
143
144
145
145
146
146
146
970
1,072
1,070
,050
,158
,116
,054
,021
1,034
1,154
1,116
1,047
1,001
1,040
1,148
1,109
1,048
1,059
1,161
1,106
1,062
1,019
1,061
1,176
1,105
1,062
1,035
I
OfLK
I
lfiC
1
Af!O
997
,046
,137
,104
,032
,019
1 069
1 177
1 133
1 063
1 053
1 073
1 178
1 136
1 066
1 054
076
178
136
061
054
1,082
1 210
1 169
1,061
1 060
1,084
1 214
1,171
1,060
1 065
1 085
1 221
1 172
1 061
1 066
147
148
151
153
153
153
153
153
154
155
155
156
157
159
146.9
148.4
146.2
146 3
147.3
149.0
146.5
146.7
149.7
151.5
148.9
149.0
150.8
153.0
150.3
148.9
151.9
154.5
151.0
150.4
151.8
154.4
151.0
149.8
152.4
155.1
152.1
149.3
153.1
156.0
152.5
150.1
153.7
156.4
153.2
151.0
154.5
156.7
154.2
151.6
154.8
157.1
154.5
152.1
155.6
158.0
155.5
152.3
155.8
158.3
155.7
152.6
157.4
159.4
157.7
153.3
149.9
164.3
150.1
165.6
151.5
169.1
150.3
168.8
151.6
170.0
151.0
169.1
151.3
171.0
151.9
171.7
152.2
171.8
152.2
172.2
152.0
172.5
152.2
173.0
154.2 3156.4
174.9 3 177. 0
1,353
695
390
CONSTRUCTION COST INDEXES
Dept. of Commerce composite
1957-59=100..
American Appraisal Co., The:
Average, 30 cities
Atlanta
New York
._
San Francisco . .
St. Louis
1913=100
do
do
do__
do
966
953
Associated General Contractors of America. Inc.,
150
The (building only)
1957-59=100
139
E. H. Boeckh and Associates, Inc.: 1
Average, 20 cities:
All types combined
...1957-59=100..
Apartments, hotels, office buildings
do
"~i39."<T ~~~l5i.~8~
149.1
Commercial and factory buildings
do
139.1
148.0
Residences
do
136 7
Engineering News-Record:
149.9
136.8
Building
do
167.2
Construction
do
151.9
Bu. of Public Roads— Highway construction:
Composite (avg. for year or qtr.)
1957-59=100
121.6
132.3
166.0
166.0
171.1
168.2
198.1
204.2
207.3
236.0
166.8
184.9
131.7
138.2
130. 3
1
1
1
1
1
138.7
136 3
137.2
CONSTRUCTION MATERIALS
Output index: J
Composite, unadjusted 9
Seasonally adjusted
1947-49=100
do
Iron and steel products, unadjustedLumber and wood products, unadj
Portland cement, unadjusted
do_ _
..do
do
181.0
168.9
177.0 ' 170. 7 ' 170. 2 r 172 2
177.3
165.6
154.7
165 0
186.4
175.3
180.9
161.6
245.4
171.0
157.2
253.4
169.0
156.6
257.2
16 6
15 3
169
169
12.2
127
11.5
124
15.9
178
11.4
130
15.1
176
13.6
142
6 495 94 7,120.63
3, 773. 88 4,073.86
541.22
301.30
323.09
5,259
9,289
5,764
5,971
21,983
21,832
2,073
4,916
4,756
485
1 023
95, 856
1, 829. 92 1,952 02
167.7
164.5
181.0
159 7
147.6
154 4
147.0
171 1
166 3
166 8
259 9
176 1
178 6
260 7
153 0
147 2
184 2
158 7
149 9
155 4
14.4
169
13.0
152
16.5
193
11.1
128
19.8
224
11.4
127
14.6
230
11.5
177
595. 38 657. 56
308.13 355 .55
630.40
384.56
714.28
363. 55
712. 12 560. 12
397. 44 328. 54
6,413
7,053
7,544
7, 940
8,439
2,146
2,415
1,974
1,918
1,728
482
1,113
551
495
1,345
575
421
1,091
462
393
1,089
436
377
936
415
8 305
8,474
8,108
7,503
7,362
169. 91
157. 52
164.57
148. 21
172. 14
178.8
175 9
181.0
179.8
r
r
151 0
101. 7
146 6
120 8
163 2
153.9
14.9
210
10.1
147
16.5
251
9.4
141
20.0
250
10.7
142
26.5
258
13.5
142
27.7
282
12.8
134
24.4
269
12.2
131
595. 83
317. 14
610. 47
310. 21
501.86 581. 88
235. 24 257. 74
561. 43
232. 58
527. 06
237. 52
8,802
9,289
9,852
9,937
9,745
9,860
10,008
1,698
1,330
1,508
1,064
1,042 ' 1, 262
1,400
1,572
365
862
471
286
652
392
300
687
521
220
530
314
325
627
448
369
741
462
REAL ESTATE
Mortgage applications for new home construction:
FHA net applications!
thous units
Seasonally adjusted annual ratesj
do
Requests for V A appraisals
do
Seasonally adjusted annual ratesj .. do.
Home mortgages insured or guaranteed byFed. Hous. Adm.: Face amount
mil. $
Vet. Adm.: Face amount!
do
Federal Home Loan Banks, outstanding advances
to member institutions, end of period
mil. $..
New mortgage loans of all savings and loan associations, estimated total
_
mil. $..
By purpose of loan:
Home construction
___do_._
Home purchase .
do
All other purposes. _ .
do
Foreclosures
.
Fire losses (on bldgs., contents, etc.).
number
mil. $
11,215
5,852
110 404
11, 244
5,832
T
565
519. 70
2
' Revised.
* Annual total reflects revisions not distributed to months.
Computed
from cumulative valuation total.
3 index as of June 1,1970: Building, 157.5; construction,
180.1.
0 Data for May, July, and Oct. 1969 and Jan. and Apr. 1970 are for 5 weeks; other
months, 4 weeks.
* New series. Data from Mobile Home Manufacturers' Association;
adjusted annual rates calculated by Bu. of the Census. Available earlier data
Digitizedseasonally
forbeFRASER
will
shown later.
7, 812 '8 468 r 7 249 r g 337
154 89
156. 54
146. 32
179 43
223
502
317
7 772
7 213
184. 03
206 89
'284
'585
'393
8 427
196. 68
188. 47
^Copyrighted data; see last paragraph of headnote, p. S-l.
{Revisions for 1961-68 for FHA applications and for 1961-Feb. 1969 for requests for VA
appraisals (seas. adj. annual rates) will be shown later. Revisions for 1964-68 for construction
materials output indexes appear in the Dec. 1969 issue of Construction Review (BDSA).
9 Includes data for items not shown separately. § Data include guaranteed direct loans sold'
June 1970
SURVEY OF CURRENT BUSINESS
Unless otherwise stated in footnotes below, data
through 1968 and descriptive notes are as shown
in the 1969 edition of BUSINESS STATISTICS
1968
| 1969
Annual
S-ll
1970
1969
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
DOMESTIC TUADE
ADVERTISING
Television advertising:
Network (major national networks) :
Net ttme costs, total.
Automotive, incl. accessories
Drugs and toiletries
Foods soft drinks confectionery
Soaps, cleansers, etc..
Smoking materials
All other
1,550.0
125.9
437.0
293.3
144.9
156.8
392.1
1,698.8
135.1
496.8
314 4
157.5
175.0
420.0
Magazine advertising (general and natl. farm magazines):
1, 196. 1
Cost total
mil. $
Apparel and accessories
_ do_ _ _
63.5
Automotive, incl. accessories
do
112.6
32.3
Building materials
do
Drugs and toiletries
do
144.4
Foods, soft drinks, confectionery
do
106.3
1, 245. 3
60.6
114.4
26.5
158.7
101.5
122.2
7.9
11.3
3.7
13.8
9.7
125.7
5.3
11.2
4.1
15.4
8.8
98.8
2.4
9.3
2.7
14.4
8.6
71.4
1.0
5.3
1
10.9
7.7
95.6
75.7
56.7
22.2
43.2
443.6
101.8
76.5
60.0
15.7
48.2
481.4
8.5
8.4
46
22
4 3
47 6
95
10.5
73
17
41
47 8
9.2
6.4
56
1.2
38
35 2
6 7
4.4
4 5
g
36
26 4
Newspaper advertising linage (52 cities) : 0
Total
_ .. - _ mil. lines. _ 3, 381. 1
Classified
do
923.7
Display, total
-do
2 457.3
Automotive .
do
171.0
Financial
do
72.8
General
do
296.1
Retail .:
_.
-do
1, 917. 4
3, 575. 1
1, 017. 1
2, 558. 0
173.3
81.7
300.1
2, 003. 0
299 7
87 7
212 0
16 1
78
26 6
161 4
326 6
95 7
230 9
17 9
61
29 7
177 1
303 1
89 8
213 2
15 7
78
25 5
164 3
273 3
83 7
189 6
14 7
82
m
236,708
109, 578
127, 130
19,912
9 489
10,423
20,150
9 420
10, 730
20,036
9 549
10,485
20,008
9 355
10, 653
20,036
24,365
14 376
9 989
23, 349
14 031
9 318
23,348
14 060
9 288
23,500
14 227
9 273
23, 349
H I 79
9 177
23 495
14,262
mil. $-. a339 324 351 633
-do
110 245 112 779
_ do __ 65 261 66 911
do
62,048
60, 660
do
4,863
4,601
Furniture and appliance group 9
--do
16,719
16,540
Furniture, homefurnishings stores
do
10,439
10,227
Household appliance, TV, radio
do
5,223
5 235
Lumber, building, hardware group
do
14,562
Lumber, bldg. materials dealersd*
do
11,278
10 984
Hardware stores
do
3 284
Nondurable goods stores 9 - do
0229 079 238 854
Apparel group
do
19 265 20 158
Men's and boys' wear stores
do
4 516
4 761
Women's apparel, accessory stores do
7,429
7,606
Shoe stores
_ do
3 505
3 1Qfi
Drug and proprietary stores.
do
11,863
11, 458
Eating and drinking places
do
25,849
25, 285
Food group
do
°72, 881
75,866
Grocery stores
_
__do
"67, 925
70,955
Gasoline service stations
do
24, 526
25, 116
General merchandise group with nonstores9
mil. $.. 54 493 58 615
General merchandise group without nonstores9§
mil. $__ 49 295
53 083
Department stores
_
do
33 323
36 411
Mail order houses (dept. store mdse).do
3,256
3,519
Variety stores
_
.do
6,152
6,548
Liquor stores. .do
6,969
7,403
Estimated sales (seas, adj.), total ...
do
Durable goods stores 9
do
Automotive group
do
Passenger car, other auto, dealers
do
Tire, battery, accessory dealers
do
28 781
9 742
5 924
5,500
424
30 812
10 259
6*200
5,750
450
29 625
10 207
6 152
5,695
457
9Q ft9fi
mil. $-_do
_do _
do
do
do_ __
do
Beer, wine, liquors
..
«
do
Household equip., supplies, furnish ings., do
Industrial materials
_do _
Soaps, cleansers, etc
do
Smoking materials
do
All other
_ do _
381.0
27.5
104.3
70 9
38.0
38.5
101.7
537.6
50.6
157.6
89.9
38.4
54.2
147.0
343.8
21 3
103 1
66 4
39 4
35 0
78 6
1Q ^
e
73 4
61
4.4
I A
11 3
5.8
113 4
94
9.0
27
14 6
8.2
133 3
62
17.1
28
14 6
9.4
133 9
5.6
13.2
16
15 8
11.3
106.7
3.9
6.6
1.0
15.4
8.1
69.9
1.8
5.4
.8
9.1
5.0
88.7
3.5
7.8
1.4
12.4
8.3
109.8
6.2
10.7
24
13 4
9.3
112 1
65
9.9
2 6
14 3
8.5
121 2
4 1
11.1
31
15 1
9.7
74
7.0
60
I i
4 3
43 6
11 3
10.2
56
14
4 3
50 5
12 8
8.9
60
15
4 9
52 3
16.6
4.7
3.7
.9
5.0
40.9
3.6
3.1
31
9
39
33 5
5.2
3.6
3.7
.8
45
37.4
7 8
5.6
35
19
4 6
44 5
81
7.2
4 4
17
5 2
43 8
9 1
9.7
241.4
70.2
171 3
11.5
5.8
20 7
133.2
289 0
80 2
208 8
13 1
6 8
23 8
165 2
47
3.2Q
4
3
C
97 Q
OQA 1
09 9
9<V> ft
U an
4
18.2
•tcr Q
293 9
86 1
207 8
16 7
61
25 1
159 9
326
89
237
14
7
30
184
3
0
3
7
3
6
8
339 6
83 4
256 2
13 7
59
31 7
204*9
307.2
66.9
240.3
9.8
7.0
21.7
201.7
247 6
72 9
174 7
10 3
96
17 8
137 0
20,638
9 575
11,063
21, 935
10 137
11, 799
19,720
8 892
10,828
20,703
9,040
11,664
18, 813
8 328
10,485
18, 505 ' 20,592
8,393 r 9 370
10, 112 r 11,221
23,669
24,229
U q91
24,288
14 273
10 015
24,365
14 376
9 989
24, 537
24, 746
14 622
10 125
T
r -IA Q17
r in OQD
24,907
24, 748
14, 8^1
Q 917
30 645 29 839
9 107
10 055
fi ftfifi K 070
4,968
5,673
410
415
35963
9 799
5 072
4*, 613
459
27 051
7 810
25 437
7 874
4 796
4,489
307
rOQ 71 e
29 507
1,847
1,046
632
1 186
818
368
26 164
2 838
745
1,025
1,327
792
428
871
672
199
19 241
303
81
222
15
7
27
172
5i
7 5
5g
41 0
8
8
0
3
1
i
5
WHOLESALE TRADE
Merchant wholesalers sales (unadj.), total, mil. $_. 219, 943
Durable goods establishments
do
100, 012
Nondurable goods establishments
do
119, 930
Merchant wholesalers inventories, book value,
end of year or month (unadj.), total — mil. $_.
Durable goods establishments
do
Nondurable goods establishments
do
22, 487
13 245
9 242
Q VGA
10 742
U iqo
9 531
9
QOQ
14. A.V)
10 105
20, 213
9 298
10, 916
RETAIL TRADE
All retail stores:
Estimated sales (unadj.), total
Durable goods stores 9
Automotive group
Passenger car, other auto, dealers
Tire, battery, accessory dealers
Furniture and appliance group 9
Furniture, homefurnishings stores
Household appliance, TV, radio
Lumber, building, hardware group
Lumber, bldg. materials dealersd*
Hardware stores
do
do
do ..
do
do
do
1,386
1,417
1,281
902
899
838
412
446
372
1 271 1 344 1 370
1 073
'980
1,033
311
297
291
19 039 20 553 19 418
1 642 1 662 1 550
391
375
368
642
574
626
989
OQfi
5,171
445
28 583
9 364
5,098
4,687
411
1,383
1 360
859
864
454
417
1 345 1 ^19
1 048 1 noq
9Q7
97Q
19 530
1 ^71
9ft 4.7A
qqn
1fif\
561
9QQ
605
337
931
2,073
5,984
5,590
2,070
1,002
2,273
6,704
6,284
2,185
951
2,307
6,147
5,733
2,184
961
2,336
6,418
5,992
2,223
992
2,430
6,666
6,234
2,210
A KflQ
A. QQQ
A
4
4 500
4 771
4 593
4 056
2 778
268
512
563
29409
9,575
5,572
5,145
427
4 307
2 966
258
533
627
29,386
9,481
5,516
5,102
414
4 145
2 862
244
514
596
29 371
9,545
5,634
5,220
414
1,433
903
436
1,261
974
287
1,436
902
455
1,224
943
281
1,459
895
478
1,234
951
283
' Revised.
* Monthly revisions for Jan.-Nov. 1968 (unadj. and seas. adj. data) appear
in the Census Bureau Monthly Retail Trade Report, Dec, 1969 issue.
0 Source: Media Records, Inc., 52-City Newspaper Advertising Trend Chart.
9 Includes data for items not shown separately.
Q 4.QA
*» A1A
(\f.(\
9 77*i
245
506
632
29 090
9,141
5,419
5,011
408
1,380
852
445
1,190
899
291
47Q
q n<U
270
546
639
29 346
9 161
5 412
5,013
399
1,352
841
424
1,185
905
280
&
AQ1
5,103
378
1,401
1,434
855
889
441
446
1 279 1 309
1 018 1*037
*261
272
19 219 20 590
1 642 1 747
354
403
626
672
090
1,436
891
456
1 142
879
263
20 732
1 789
446
666
Qftfl
444
4 AAA
4,325
339
1 4.19
qee
524
1,018
2,026
6,816
6,407
2,079
950
1,945
6,040
5,649
1,917
A AAQ
& 1ft7
e fiAQ
8 636
q QAQ
3 719
A
KQQ
K -190
q KAC
3 126
3 515
*338
538
611
29 620
9 354
5 638
5,238
400
408
590
639
29 471
9,229
5,565
5,170
395
8 063
5 572
507
1,088
875
29 419
9,275
5,453
5,086
367
3 280
2 181
256
409
537
29 980
9 143
5 325
4,901
424
1,332
838
423
1,168
909
259
1,399
855
439
1,180
916
264
1,457
885
465
1,143
897
246
71:9
1,317
824
405
1 172
932
240
20 020
1,347
2,120
6,800
6,351
2,131
1,358
825
436
1,173
906
267
9 487
5
1,217 r 1,290
752
'802
r 3gg
370
896 r i 031
r g2g
712
ofiq
184
r
i
Q
707
17 563
1 241
292
r qqi
483
'586
r
914
319
966
2,121
6,331
5,922
2,053
1,364
847
417
1,190
925
265
r
5,310
442
986
2,255
6,593
6,168
2,119
2 409
*234
414
613
29 570
8 886
5,114
4,701
413
T C AK.R
5,083
r
373
969
2,199
6,125
5,712
2,060
4 186
2 877
'274
492
577
29259
9,384
5,665
5,272
393
f 8 Q1 8
T
r
T
r
r
1
**1 fi
qqn
571
272
1, 022
2, 141
6, 438
5, 996
2, 128
981
2,197
6,422
5,985
2,195
312
289
514
601
387
295
431
991
440
r
528
r
587
r
29 801
r 9 134
r 5 350
r 4' 921
r 429
1 422 r 1 41g
r g68
892
r 426
426
1 205 r 1 168
r 927
949
256
241
30
9
5
4
1 454
875
473
1 145
913
232
cfComprises lumber yards, building materials dealers, and paint, plumbing, and electrical
stores.
$ Except department stores mail order.
SURVEY OF CURRENT BUSINESS
S-12
1968
Unless otherwise stated in ; footnotes below, data
through 1968 and descript ve notes are as shown
in the 1969 edition of BUSINESS STATISTICS
1969
June 1970
1969
Apr.
Annual
May
June
July
Aug.
1970
Sept.
Oct.
Nov.
Dec.
Jan.
20,242
1,677
406
627
305
20, 144
1,681
397
603
335
20, 684
1,616
391
608
273
Mar.
Feb.
Apr.
DOMESTIC TRADE—Continued
RETAIL TRADE— Continued
All retail stores— Continued
Estimated sales (seas, adj.)— Continued
N endurable {roods stores 9
Mien's and boys' wear stores
"Women's apparel accessory stores
Drue and proprietary stores
Grocery stores
mil. $
do
do
do
do
General merchandise group with nonstores 9
mil $
General merchandise group without nonstores 9 §
mil. $
Mail order houses (dept store mdse.)do
Variety stores
do
Estimated inventories, end of year or month:
Book value (unadjusted) total
mil $
Durable goods stores 9
do
Automotive group
do _
Furniture and appliance group
__do
Lumber, building, hardware group. _do
41,346
r
Revised.
996
2,186
6,312
5,906
2,119
975
2,191
6,278
5,868
2,086
994
2,110
6,275
5,863
2,080
1,013
2,150
6,429
6,006
2,075
1,019
2, 173
6, 326
5,907
2,089
1,007
2,219
6,450
6,035
2,090
1,004
2,233
6,429
6,012
2,078
1,000
2,137
6,436
6,026
2,097
1,038
2,209
6,674
6,239
2,184
1,034
2,270
6,655
6,221
2,183
'
'
'
'
'
1, 051
2, 273
6, 679
6, 233
2, 203
21, 092
1,712
400
615
293
1,036
2,263
6,669
6,221
2,231
4,920
4,844
4,857
5,019
5,000
4,864
5,000
4,987
4,998
5,061
5,114
' 5, 001
4,468
3,080
294
558
619
4,397
3,011
285
546
615
4,398
2,991
294
552
627
4,556
3,143
287
560
642
4,524
3,117
285
554
640
4,362
2,988
281
526
617
4,486
3,065
302
553
618
4,475
3,083
294
550
614
4,554
3,113
310
553
594
4,603
3,108
330
574
649
4,612
3,129
338
560
633
' 4, 527 4,815
3,307
' 3, 060
308
323
602
'562
654
'655
5,293
44, 284
18, 995
8,569
3,124
2,856
45, 849
19, 508
8,966
3,210
2,837
46, 969
20, 036
9,385
3,311
2,832
44, 247
19, 956
9,710
3,130
2,773
43,629
19,897
9,706
3,032
2,756
44, 871
20, 391
9,868
3,088
2,760
45, 987
20, 811
10, 170
3,124
2,819
46, 554
21,009
10, 326
3,160
2,826
22,500
4,536
4,511
24,291
4,891
4,822
23,689
4,925
4,575
23, 816
4,902
4,627
23,604
4,826
4,627
23, 886
4,873
4,624
24, 499
5,204
4,620
25, 289
5, 344
4,676
26, 341
5,387
4,794
26, 933
5,511
4,896
24, 291
4,891
4,822
23,732
4,701
4,676
24, 480
4,894
4,784
25, 176
5,074
4,835
25,545
5,145
4,861
9,237
5,286
10, 105
5,771
10, 013
5,752
10, 141
5,782
9,982
5,686
10, 194
5,824
10. 431
5,979
10, 946
6, 284
11, 735
6,787
11, 952
6,962
10, 105
5,771
9,962
5,602
10, 324
5,772
10, 755
6,089
10, 925
6,134
42,657
19,461
8,919
3,139
2,898
45,838
20, 597
9,888
3,244
2,874
43, 118
19, 567
9,084
3,102
2,966
43, 025
19, 044
8,711
3,042
2,924
43,438
19, 365
9,047
3,015
2,927
43, 874
19, 358
9,011
3,078
2,908
44, 322
19, 756
9,394
3,108
2,898
44,806
20, 079
9, 738
3, 072
2, 867
45, 378
20,564
10, 154
3,113
2,851
45, 537
20, 602
10, 146
3,165
2,841
45, 838
20, 597
9,888
3,244
2,874
45,270
20,103
9,548
3,182
2,790
45, 337
19, 936
9,266
3,177
2,771
45, 525
20, 022
9,434
3,162
2,756
45, 493
19, 960
9,447
3,126
2,723
23, 196
4,760
4,493
25,241
5,132
4,803
23, 551
4,910
4,552
23, 981
4,972
4,641
24,073
5,038
4,646
24, 516
5f 092
4,694
24, 566
5,097
4, 695
24, 727
5, 037
4,704
24, 814
4,970
4,686
24, 935
5,028
4,795
25, 241
5,132
4,803
25,167
5,131
4,744
25, 401
5,093
4,832
25, 503
5,193
4,825
25, 533
5,155
4,861
9,806
5,576
10, 829
6,139
9,975
5,735
10, 275
5, 876
10, 274
5,904
10, 488
6,029
10, 483
6,027
10, 525
6, 025
10, 633
6,060
10, 632
6,075
10, 829
6,139
10,850
6,162
10, 925
6,153
10, 991
6,239
10, 935
6,134
"94,194
103,070
8, 093
8,755
8,198
8,249
8,786
8, 274
9,041
9,258
12, 541
8,112
7,316
' 8, 463
8,559
5,186
767
1,837
1,335
3,373
2,122
1,303
5,921
905
2,090
1,598
3,777
2,487
1,354
479
63
167
120
283
212
114
468
66
169
127
315
212
128
462
68
159
136
293
218
129
412
53
150
113
311
210
123
503
65
176
149
328
224
115
505
70
178
155
315
229
113
531
85
192
139
318
231
115
556
110
191
144
320
208
112
906
163
314
237
489
205
143
387
73
131
101
322
203
88
352
58
120
97
294
193
85
'507
'66
' 167
'159
'348
'215
100
452
66
150
127
327
226
104
38, 395
41,997
3,243
3,401
3,282
3,251
3,532
3, 320
3,636
4,045
6,340
2,808
2,624
' 3, 306
3,434
35, 708
26, 184
4,821
39,222
28,934
5,232
3, 017
2,211
416
3,163
2,346
428
3,052
2,275
410
3,028
2,238
401
3,315
2,471
432
3, 084
2,292
390
3,379
2,478
429
3,783
2,786
477
6,027
4,424
875
2,613
1,921
326
2,406 ' 3, 072
1,746 ' 2, 241
321
'415
3,199
2,375
413
34, 295
1,736
37, 163
1,816
2,876
163
3,303
171
2,903
180
3,072
173
3,244
147
2, 955
134
3,303
159
3,148
146
3,409
171
3,511
112
3,028
103
' 3, 179
'127
3,148
153
do _
8,555
8,482
8,551
8,693
8,718
8, 578
8,822
8,739
8,902
9,038
9,078
' 8, 952
9,158
_ do
do
do _
do
do
do
502
70
177
114
298
214
462
67
163
122
320
205
487
68
171
138
299
206
505
67
181
140
327
202
519
78
181
150
337
215
514
80
182
150
341
22(5
514
79
183
142
332
228
515
93
177
147
326
216
523
85
177
158
314
207
487
82
173
125
349
215
521
85
175
140
339
217
'477
'73
' 164
' 127
'361
'214
522
78
170
146
353
226
3,556
3,452
3,407
3,603
3,553
3, 432
3,559
3,519
3,695
3,646
3,698
' 3, 605 3,813
3,325
2,440
449
3,220
2,367
439
3,168
2,326
439
3,379
2,501
450
3,338
2,493
439
3, 199
2,360
418
3,316
2,432
440
3,264
2,406
437
3,447
2,556
442
3,428
2,498
460
3,442
2,534
448
' 3, 362
' 2, 476
'443
2,988
160
3,039
154
3,088
164
3,094
162
3,146
146
3,120
143
3,197
158
3,199
142
3,213
131
3,344
136
3,306
140
' 3, 318 3,255
'146
149
do
__do
do
a
do
do
do
do
do
do
do
° See corresponding note on p. S-ll.
963
2,133
6,211
5,806
2,106
64:5
20, 837 '20,667
1,735 ' 1,608
420
'383
650
'590
296
'271
43, 015
18, 516
8,051
3,105
2,878
All retail stores, accounts receivable, end of yr. or mo.:
Total (unadjusted)
mil. $_.
Durable goods stores
do
Nondurable goods stores ...
do
Charge accounts
.do
Installment accounts...
do
_.
316
20, 266
1,719
401
652
314
43, 688
19, 802
9,425
3,075
2,902
General merchandise group with nonstores 9
mil. $
General merchandise group without nonstores §
mil $
Dept. stores, excl. mail order sales
do
Variety stores
do
Total (seasonally adjusted)
Durable goods stores..
Nondurable goods stores
Charge accounts
Installment accounts
19,875
1, 676
388
43, 753
20,149
9,735
3,036
2,980
General merchandise group with nonstoros9
mil. $
General merchandise group without nonstores §
mil. $..
Dept. stores, excl. mail order sales
do
Variety stores
do_ ._
Grocery stores
Tire, battery, accessory dealers
20,185
1,738
400
653
332
43, 948
20, 132
9,643
3,075
3,012
Apparel group 9
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 and appliance group
do
Apparel group 9
Men's and boys' wear stores
Women's apparel, accessory stores
Shoe stores
Drug and proprietary stores
Eating and drinking places
19,949
1,700
375
658
306
44, 237
20, 548
9,938
3,127
3,046
Nondurable goods stores 9
— do
Apparel group
do
Food group
do
General merchandise group with nonstore''
mil. $
Department stores
do
Estimated sales (seas, adj.), total 9
19, 826
1,660
375
640
296
44, 247
19,956
9,710
3,130
2,773
Book value (seas, adj.), total
do
Durable goods stores 9
do
Automotive group
- - do
Furniture and appliance group
do
Lumber, building, hardware group.. _do
Grocery stores.. ._
.
Tire, battery, accessory dealers
19,905
1,665
399
633
266
18, 846
8,758
3,029
2,797
Nondurable goods stores 9
-- do
Apparel group
do
Food group
do
General merchandise group with nonstores.
mil. $__
Department stores
do _
Firms with 11 or more stores:
Estimated sales (unadj.), total 9
19,834
1,746
414
649
266
3,562
2,630
477
20,630
7,140
13, 490
8,677
11, 953
21, 490
7,174
14,316
8,648
12, 842
19,427
6, 865
12, 562
8,257
11,170
19, 734
6,964
12, 770
8,459
11, 275
19, 806
7,189
12, 617
8,423
11, 383
19,566
7,151
12,415
8,223
11,343
19,634
7,122
12, 512
8,228
11, 406
19, 734
7, 134
12,600
8,260
11, 474
19,853
7,159
12, 694
8,326
11, 527
20, 143
7,082
13, 061
8,312
11, 831
21, 490
7,174
14, 316
8,648
12, 842
20, 594 ' 20, 086 20, 010
6,802 ' 6, 786 6,794
13, 792 ' 13, 300 13, 216
8,142 ' 7, 993 8,089
12, 452 ' 12, 093 11,921
20, 107
6,824
13, 283
8,197
11,910
19,378
6,941
12, 437
8,317
11,061
20, 140
6,976
13, 164
8,280
11, 860
19, 746
7,096
12, 650
8,368
11,378
19, 771
7,001
12, 770
8,280
11, 491
19, 695
7,003
12, 692
8,186
11, 509
19,824
7,069
12,755
8,187
11,637
19, 849
6,988
12, 861
8,240
11,609
19, 996
7, 026
12, 970
8, 299
11,697
19, 996
7,002
12, 994
8,198
11, 798
20, 087
7,055
13, 032
8,190
11,897
20, 140
6,976
13, 164
8,280
11, 860
20, 198 '20,433
6,930 ' 7, 077
13, 268 ' 13, 356
8,262 ' 8, 428
11, 936 T 12, 005
20, 387
6,988
13, 399
8,323
12, 064
9 Includes data not shown separately.
20, 375
7,074
13, 301
8,390
11, 985
§ Except department stores mail order.
May
SURVEY OF CURRENT BUSINESS
June 1970
Unless otherwise stated in footnotes below, data
through 1968 and descriptive notes are as shown
in the 1969 edition of BUSINESS STATISTICS
1968 P | 1969 *
Annual
S-13
1969
May
Apr.
July
Jure
1970
Aug.
Sept.
Nov.
Oct.
Dec.
Jan.
Feb.
Mar.
Apr.
May*
LABOR FORCE, EMPLOYMENT, AND EARNINGS
POPULATION OF THE UNITED STATES
Total, incl. armed forces overseas
mil
i 201. 18 i 203. 21
202 70
202 87
203 04
203. 21
203. 40
203. 61
203. 81
204.00
204.18
204.35
204.51
204.66
204.84
205. 02
84,239
80 733
77, 902
74, 296
3 606
2,831
83, 137
79 621
77 079
73, 471
3 607
2 542
83,085
79 563
77,264
73, 370
3 894
2 299
85, 880
82 356
78 956
74, 589
4 367
3 400
86,318
82 797
79 616
75, 460
4 155
3,182
86,046
82 516
79 646
75 669
3 977
2 869
84, 527
80 984
78 026
74 397
3 629
2 958
85, 038
81 510
78, 671
75, 110
3 561
2 839
84, 920
81 427
78,716
75, 395
3 322
2,710
84,856
81,416
78, 788
75, 805
2 984
2,628
84, 105
80, 719
77, 313
74, 398
2,915
3,406
84,625
81, 283
77, 489
74, 495
2,994
3,794
85,008
81, 690
77, 957
74, 786
3,171
3,733
85,231
81, 960
78, 408
74, 877
3,531
3,552
84, 968
81, 741
78, 357
74,632
3,725
3,384
412
375
80, 434
77, 589
73, 928
3,661
2,845
381
80, 130
77, 321
73, 544
3,777
2,809
400
80,504
77, 741
74, 058
3,683
2,763
385
80, 789
77, 931
74, 370
3,561
2,858
400
80 987
78 142
74, 528
3,614
2,845
385
81 325
78, 194
74, 696
3,498
3,131
392
81 523
78, 445
74, 999
3,446
3,078
363
81, 379
78, 528
75, 094
3,434
2,851
389
81, 583
78, 737
75, 302
3,435
2,846
392
82, 213
79,041
75, 615
3,426
3,172
409
82, 249
78, 822
75, 323
3,499
3,427
465
82, 769
79, 112
75, 562
3,550
3,657
545
82, 872
78, 924
75, 338
3,586
3,948
569
82, 555
78, 449
74,836
3,613
4,106
612
3.6
2.2
3.8
12 7
16
6 7
32
20
4.1
3 5
2 1
37
12 2
15
6 4
31
2 1
3 9
3.5
35
3.4
3.5
3.8
4.4
2.2
3.5
3.9
4.2
2.1
3.6
3.5
4.8
2.3
3.8
12 7
15
7 0
31
18
11 7
15
6 8
30
12 2
16
6 5
32
2 2
3 5
2 1
38
12 3
15
6 4
3 2
2 2
38
3.8
37
12 4
15
6 4
31
2 0
38
12.9
12.9
11.8
11.8
13.8
13.4
13.9
15.7
14.3
1.7
6.7
3.5
2.2
4.4
1.6
6.6
3.5
2.4
4.2
1.5
6.2
3.2
2.1
4.2
1.7
5.7
3.2
2.1
4.3
1.8
6.3
3.6
2.1
4.6
2.0
7.0
3.8
2.3
5.0
2.2
7.1
4.1
2.7
5.2
2.4
8.7
4.3
2.9
5.7
2.6
8.0
4.6
2.8
6.2
3.9
3.8
7.3
3.6
3.2
3.6
5.4
3.7
3.6
3.6
6.0
3.8
3.7
3.9
7.1
3.8
3.8
4.3
7.9
4.6
4.7
4.6
8.1
4.7
4.8
4.8
8.1
4.7
4.9
LABOR FORCE
Labor force, persons 16 years of age and over__thous__
Civilian labor force
do
Employed, total. __ _
__
__do _
Nonagricultural employment
do
Agricultural employment
do
Unemployed (all civilian workers) ._ _.do
Seasonally Adjusted t
Civilian labor force t
do
Employed, total
_
do
Nonagricultural employment
_ do
Agricultural employment
do
Unemployed (all civilian workers)
__do
Long-term, 15 weeks and over
do
Rates (unemployed in each group as percent
of total in the group) :|
All civilian workers ._
Men, 20 years and over
Women, 20 years and over
Both sexes, 16-19 years
Married men . _
Negro and other races
White workers
Occupation: White-collar workers
Blue-collar workers
Industry of last job (ri on agricultural):
Private wage and salary workers
Construction
Manufacturing
Durable goods
82, 271
78 737
75 921
72, 104
3 817
2,816
36
69
O
3
6
3
3
0
3 0
5
0
3
o
2.0
3.8
4.0
3
6
3
3
5
0
2
o
2.0
3
5
3
2
5
7
1
9
2.0
3.7
2.1
2.2
3.7
3 7
3.8
3
5
3
3
3
5
3
3
5
1
3
2
5
9
2
1
3
7
2
2
5
0
9
3
2.4
3.9
7 4
3.7
3.2
3.5
2.5
3.6
2.8
4.1
2.9
4.5
3.2
4.4
5.0
3.5
5.1
5.2
11.9
5.2
4.9
EMPLOYMENT
Employees on payrolls of nonagricultural estab.:1
Total, not adjusted for seasonal variation, -thous. . * 67, 915
Seasonally Adjusted
Total
thous
r 67 915
Mining..
.
do
606
Contract construction.
_.
do ..
3 285
Manufacturing
do
19 781
Durable goods
do
11 626
Ordnance and accessories
. .do
Lumber and wood products
do
Furniture and
fixtures
...
do. - Stone, clay, and glass products.
do
Primary metal industries
do
Fabricated metal products
do
Machinery, except electrical
do
Electrical equip, and supplies
do
Transportation equipment
do
Instruments and related products., .do. ..
Miscellaneous manufacturing ind
do
Nondurable goods
do
Food and kindred products
do
Tobacco manufactures
.
do
Textile mill products
do
Apparel and other textile products. . .do
Paper and allied products
..do
Printing and publishing
do
Chemicals and allied products
do
Petroleum and coal products
do
Rubber and plastics products, nee . .do
Leather and leather products
do
Transportation, communication, electric, gas,
and sanitary services
thous..
Wholesale and retail trade
do
Wholesale trade
do
Retail trade
...
do . .
Finance, insurance, and real estate
_ do
Services
do
Government
do ...
Federal
do
State and local
do
r
70, 275 ••69,591 '70,065 '71,117 '70,481 '70,759 ' 70, 965 '71,335 '71,356 ' 71, 763 '69,932 '70,033 '70,460 '70,721
r
70 275 '69 992 '70 172 '70 348 '70 400 '70 498 '70 568 '70 838
486
316
607
306
606
486
322
608
652
1,343
1,443
2 021
2,036
2 070
656
1,356
1,444
2 032
2,038
2 087
655
1,358
1,446
2 032
2,045
2 086
655
1,367
1,451
2 028
2,043
2 081
614
3 437
20 170
11 893
3 425
20 182
11 903
3 441
20' 195
11 915
319
609
332
610
330
614
654
1,338
1,438
2 021
2 024
2 080
472
484
656
1,358
1,442
2 028
2,013
2 067
462
85
994
326
612
614
636
1,316
1,390
1 966
1,974
2,039
433
8 155
1,782
3 420
20 246
11 950
623
3,436
20 252
11 968
615
338
600
r
3 442
20 248
11 957
3 439
20 247
11 955
619
476
r
487
478
480
479
618
484
478
441
440
440
441
441
8 277 r g 279 '8 280 '8 291 ••8 292
1 796
1,792
1,795
1 795
1 795
82
999
81
999
621
622
3,445
20 233
11 965
T
70, 810 ' 70, 845 ' 70, 992 '71,139 ' 71, 256 '71,124
624
625
'626
'622
627
626
3,394
3,496
3,466 ' 3, 481 ' 3, 424
3,473
20 082 20 083 20, 018 19 937 ' 19, 944 ' 19,787
11, 782 11, 774 11, 679 11, 625 '11,648 ' 11,525
281
605
296
603
290
606
483
479
478
657
1,381
1,452
2,041
2,049
2,078
658
1,386
1,445
2,050
2,051
2,078
659
1,384
1,444
2,043
1,934
2.028
659
1,380
1,447
2,051
1,930
2,010
653
1,360
1,436
2,043
1,922
1,988
657
1,349
1,428
2,048
1,993
1,890
438
439
' 8 296 '8,284
1,799
1 801
439
' 8, 268
1,780
436
' 8, 300
1,806
447
' 8, 309
1,805
440
' 8, 339
1,817
81
991
80
993
441
' 8, 312
1,830
484
483
479
477
86
992
83
992
298
601
476
476
476
77
995
477
474
80
999
82
82
82
1 000
1,418
710
1,083
1,059
189
595
349
1 000
1,419
712
1,090
1,064
189
596
347
1,416
712
1,093
1,064
189
597
346
1,410
714
1 097
1,064
190
597
345
1,409
715
1,100
1,064
189
596
337
1,406
716
1,106
1,062
191
596
339
1,405
718
1,109
1,064
191
596
338
1,410
720
1,110
1,067
192
594
339
1,416
721
1,113
1,068
193
595
337
4,420
14, 606
3,723
10, 883
3,540
11,170
12, 186
2,757
9,429
4,445
14, 647
3,736
10,911
3,556
11,175
12, 221
2,782
9,439
4,454
14, 672
3,741
10, 931
3,567
11,206
12, 197
2,765
9,432
4,457
14, 712
3,750
10, 962
3,580
11,250
12, 212
2,749
9,463
4,459
14, 738
3,761
10, 977
3,584
11,291
12, 185
2,747
9,438
4,463
14, 824
3,775
11,049
3,596
11, 363
12, 292
2,739
9,553
4,464
14, 847
3,781
11, 066
3,611
11, 386
12, 323
2,730
9,593
4,470
14, 749
3,806
10, 943
3,626
11,433
12, 361
2,721
9,640
4,504
14, 937
3,827
11,110
3,648
11,476
12, 390
2,717
9,673
1,406
691
1,065
1,030
187
561
355
1,412
712
1,093
1,061
183
594
345
1 003
1,419
706
1,085
1,058
189
593
349
4,310
14, 084
3,611
10, 473
3,382
10, 623
11, 845
2,737
9,109
4,431
14,645
3 738
10, 907
3,557
11,212
12, 204
2,758
9,446
4,414
14,546
3,707
10, 839
3,529
11, 146
12, 135
2,761
9,374
277
598
472
472
80
987
'271
'593
'471
'651
' 1, 337
' 1, 425
'2,046
' 1, 995
' 1, 950
'472
'437
' 8, 296
' 1, 823
'81
'261
'585
••468
70, 779
70, 855
620
3,345
19, 562
11, 394
254
585
457
633
' 1, 321 1,298
1,392
'1,410
' 2, 033 2,014
' 1, 982 1,956
1,913
' 1,919
467
'471
'431
425
' 8, 262
8,168
' 1, 806 1,791
'644
81
81
969
1,398
720
1,113
1,067
193
591
333
'980
'979
' 1, 396 ' 1, 391
'721
'721
' 1,113 ' 1,112
r 1,066
'1,062
194
'192
'589
'585
'333
'333
1,377
711
1,111
1,057
191
551
329
4,497
14, 987
3,834
11, 153
3,652
11, 533
12, 441
2,718
9,723
' 4, 502 ' 4, 464
' 14,984 ' 14,975
' 3, 847 ' 3, 850
' 11,137 '11,125
3,665 ' 3, 676
' 11,537 ' 11,552
' 12,517 ' 12,624
2,780 ' 2, 851
' 9, 737 ' 9, 773
4,473
14, 958
3,852
11,106
3,683
11, 561
12, 653
2,840
9,813
Production workers on manufacturing payrolls:!
Total, not seasonally adjusted
thous. . ' 14, 513 * 14, 768 '14,637 ' 14, 655 ' 14, 958 '14,700 '15,014 ' 15, 041 ' 14, 953 ' 14, 763 ' 14, 681 '14,423 '14,346 ' 14, 385 ' 14, 236 14, 070
Seasonally Adjusted
r 14, 513
' 14, 768 '14,798 ' 14, 790 ' 14, 844 ' 14, 839 ' 14, 826 '14,826 ' 14, 794 ' 14, 638 ' 14, 639 ' 14, 595 ' 14, 489 '14,512 ' 14, 384 14, 184
Total
-thous
8,522
8,447
8,662
8,703
8,517
8,457
8,666
8,713
8,367 ' 8, 409 ' 8, 313 8,199
8,707
8,706
Durable goods
do
8,649
8,698
151
141
164
156
'142
170
168
192
192
188
187
174
155
184
191
181
Ordnance and accessories
_.do
'511
506
520
522
524
'503
534
545
521
530
532
515
529
527
525
Lumber and wood products
do
527
'390
376
401
390
'386
404
404
401
397
396
395
390
403
402
401
402
Furniture and
fixtures..
do
'517
502
526
526
520
522
527
'511
526
523
524
526
509
526
527
523
Stone, clay, and glass products
do
,063
1,031
1,112
1,086
,072
1,048
1,108
1,103
1,046
,071
1,083
1,085
1,067
1,093
1,106
Primary metal industries
do
1,085
,087
1,100
,090
1,078
1,057
1,072
,112
1,107
1,106
1,110
1,110
1,112
1,116
1,114
1,109
1,115
Fabricated metal products
.do
,381
1,346
1,384
1,383
1,384
1,391
1,367
1,342
,376
1,374
1,386
1,391
,381
1,379
1,381
1, 379
Machinery, except electrical
do
1,264
1,291
1,373
1,246
,323
1,315
1,364
1,255
,319
1,341
,365
1,363
1,367
1,319
1,355
1,370
Electrical equipment and supplies
do
1,341
1,468
1,404
1,384
1,335
1,418
,358
1,462
,445
1,473
,291
1,457
1,481
1,477
1,439
1,475
Transportation equipment
do
292
292
288
293
'289
'289
296
297
296
294
289
294
296
296
289
285
Instruments and related products
do ...
342
'333
326
344
341
'339
342
337
351
343
343
344
346
345
346
340
Miscellaneous manufacturing ind
do
(USDL, Bureau of Labor Statistics).
' Revised.
» Preliminary.
1 As of July 1.
1 See corresponding note, p. S-14.
{Effective with the Mar. 1970 issue of the SURVEY, labor force data reflect new seasonal
comparable figures for prior periods appear in EMPLOYMENT AND EARNINGS, Feb. 1970
Digitized forfactors;
FRASER
SURVEY OF CURRENT BUSINESS
S-14
1968 P | 1969*
Unless otherwise stated in footnotes below, data
through 1968 and descriptive notes are as shown in
the 1969 edition of BUSINESS STATISTICS
Annual
June 1970
1969
Apr.
May
June
July
Aug.
1970
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May*
LABOR FORCE, EMPLOYMENT, AND EARNINGS—Continued
EMPLOYMENT— Continued
Seasonally Adjusted
Production workers on manufacturing payrolls—
Continuedl
Nondurable goods thous
Food and kindred products
... .do .
Tobacco manufactures
do
Textile mill products
do
Apparel and other textile products
do
Paper and allied products
. .do
Printing and publishing
do
Chemicals and allied products
do .
Petroleum and coal products
do
Rubber and plastics products, nee _ . do
Leather and leather products _ _
do. ..
'6,056
1,191
72
881
1,240
536
667
610
118
435
306
' 6, 120 ' 6, 132 ' 6, 128 ' 6, 137 ' 6, 133 ' 6, 128 ' 6, 113 '6,091 ' 6, 116 ' 6, 122
1,202
1,214
1,202
1,205
1,206
1,187
1,205
1,207
1,209
1,213
69
68
69
68
67
68
72
64
69
69
881
883
874
872
886
882
883
873
874
874
1,241
1,243
1, 236
1,234
1,233
1,247
1,247
1,246
1,238
1,238
552
552
554
546
550
552
554
554
552
557
682
690
674
680
681
689
678
683
685
691
623
624
621
619
623
626
625
619
623
620
112
118
118
118
117
117
118
118
118
118
460
464
460
460
461
464
462
459
463
457
296
290
289
300
297
290
299
298
296
287
6,148 ' 6, 122 ' 6, 103 ' 6, 071
1,226
1,241 '1,235 ' 1, 218
67
67
67
67
878
'861
'860
867
1,242
1,226 ' 1, 223 '1,219
'558
558
'556
557
'690
691
690
'689
'613
619
616
'610
118
119
'119
119
459
454
'453
'449
284
289
'285
285
5,985
1,203
67
850
1,207
547
685
606
117
421
282
HOURS AND MAN-HOURS
Seasonally Adjusted
Average weekly gross hours per production worker
on payrolls of private nonagricultural estab.:^
Mining
hours
Contract construction .
do..
M anuf acturing ' Not seasonally adjusted do
Seasonally adjusted
do
Overtime hours
.
..
do
'42.6
37.4
40.7
'43.0
37.9
40.6
'41.8
37.6
40.9
40.7
3.7
42.6
37.6
40.5
40.6
3.6
'43.1
37.9
40.6
40.6
3.6
' 43. 1
38.1
41.0
40.7
3.6
'43.0
37.6
40.7
40.5
3.5
'43.5
38.1
40.6
40.5
3.5
'43.2
38.2
41.0
40.7
3.5
'42.7
36.7
40.1
40.3
3.3
43.4
38.2
39.8
39.9
3.2
'43.2
38.0
40.0
40.2
'3.2
'43.1
38.3
39.7
40.0
3.0
43.1
38.2
39.9
39.9
2.9
3.6
3.6
'43.3
38.2
40.7
40.7
3.7
do
. .do
do
do
.do
do
41.4
3.8
41.5
40.6
40.6
41.8
41.3
3.8
40.4
40.2
40.4
42.0
41.4
3.8
40.5
40.3
40.8
42.1
41.3
3.9
40.7
40.1
40.6
41.9
41.3
3.8
40.3
39.8
40.2
41.7
41.2
3.8
40.4
39.9
40.3
41.9
41.4
3.8
40.3
40.0
40.1
41.9
41.2
3.6
40.2
39.9
39.9
41.7
41.1
3.5
40.3
40.2
40.0
41.8
41.3
3.5
40.5
40.3
40.0
42.0
41.0
3.4
40.6
39.6
39.5
41.7
40.5
3.2
41.3
40.1
39.3
41.7
40.7
'3.2
'41.1
'39.5
'39.4
'41.8
'40.4
'3.0
'41.1
'39.9
39.3
'41.5
40.5
3.0
40.8
40.3
39.1
41.2
Primary metal industries
Fabricated metal products
Machinery, except electrical
do
do
do
41.6
41.7
42.1
41.8
41.6
42.5
41.7
41.6
42.6
41.7
41.7
42.5
41.7
41.6
42.4
41.9
41.6
42.5
42.1
41.5
42.6
42.1
41.4
42.4
41.6
41.4
42.2
41.6
41.5
42.6
41.2
41.4
42.2
40.9
41.1
41.9
40.7
41.2
41.8
'40.1
'41.0
'41.5
40.4
40.6
40.9
Electrical equipment and supplies
Transportation equipment
Instruments and related products
Miscellaneous manufacturing ind
do
do
.do
do
40.3
42.2
40.5
39.4
40.4
41.5
40.7
39.0
40.6
41.2
40.8
39.1
40.6
41.6
40.9
39.1
40.4
42.1
40.9
39.2
40.4
41.2
40.9
39.1
40.4
41.6
41.0
39.0
40.2
41.2
40.7
38.9
40.1
40.7
40.9
38.9
40.3
41.4
40.9
39.3
40.5
40.2
40.7
39.3
39.7
40.3
40.2
38.6
40.2
40.4
40.7
'39.0
'40.0
'39.8
'40.5
'39.0
39.8
40.9
40.5
38.7
Nondurable goods
Overtime hours
Food and kindred products
Tobacco manufactures
Textile mill products
Apparel and other textile products
do
do
do
do
do
do
39.8
3.3
40.8
37.9
41.2
36.1
39.7
3.4
40.8
37.4
40.8
35.9
39.8
3.4
40.7
37.9
41.0
36.1
39.7
3.4
40.7
39.3
41.1
36.1
39.8
3.4
40.7
38.0
41.1
36.0
39.7
3.4
40.9
37.2
40.9
35.9
39.7
3.3
40.9
37.4
40.7
35.8
39.6
3.3
40.6
37.3
40.6
35.8
39.6
3.3
40.8
37.2
40.7
35.8
39.8
3.3
40.8
36.2
40.9
36.0
39.6
3.4
41.0
38.3
40.4
35.6
39.3
3.2
40.7
37.3
40.1
35.5
39.4
3.2
'40.5
'37.5
40.2
'35.6
'39.3
3.0
'40.5
'38.3
'40.6
'35.5
39.1
2.9
40.7
39.2
39.8
35.2
Paper and allied products
Printing and publishing
Chemicals and allied products
Petroleum and coal products
Rubber and plastics products, nee
Leather and leather products
do
do
do
do
do
do
42.9
38.3
41.8
42.5
41.5
38.3
43.0
38.4
41.8
42.6
41.1
37.2
43.0
38.4
41.8
43.0
41.3
37.5
43.0
38.4
41.8
42.3
41.3
37.4
43.0
38.5
41.8
42.8
41.2
37.1
42.9
38.4
41.8
42.8
40.9
36.9
42.9
38.3
41.8
42.2
41.0
37.1
42.8
38.2
41.7
42.6
40.9
37.2
42.7
38.4
41.8
42.6
40.8
37.3
42.8
38.6
41.8
42.3
41.1
37.7
42.8
38.2
42.0
42.5
40.9
37.5
42.3
38.0
41.8
42.7
41.0
37.1
'42.2
38.0
'41.8
'42.2
40.7
'37.4
42.1
37.9
41.4
'41.8
'40.6
'37.4
42.0
37.7
41.3
41.8
39.8
37.3
do
do
do
do
36.0
40.1
34.7
37.0
35.6
40.2
34.2
37.1
35.8
40.2
34.3
37.1
35.7
40.0
34.3
37.1
35.7
40.0
34.2
37.1
35.7
40.3
34.2
37.0
35.6
40.3
34.1
37.1
35.5
40.3
34.0
37.0
35.5
40.3
34.0
37.2
35.5
40.5
33.8
36.9
35.4
40.3
33.8
36.9
35.4
40.1
33.7
37.0
35.3
49.1
33.8
'37.0
35.3
40.1
'33.7
'36.9
35.4
40.2
33.8
36.8
Durable goods
Overtime hours
Ordnance and accessories
Lumber and wood products
Furniture and fixtures. _
Stone, clay, and glass products
Wholesale and retail trade _
.
Wholesale trade . - - - - _ . .. _ .
Retail trade
Finance, insurance, and real estate
.
'
Seasonally Adjusted
Man-hours in nonagric. estab., all employees, seasonally adjusted at annual rate.-bil. man-hours. .
' 139. 22 ' 139. 26 '139.50 ' 139. 75 '139.76 '139.90 '139.97 '140.25 '139.44 ' 139. 70 '140.21 ' 139. 62 139. 21
Man-hour indexes (aggregate weekly), industrial
and construction industries, totall
1957-59-100
Mining
. . .
do
Contract construction
. . . . ..do
Manufacturing
_
do
Durable goods
.. ...do
' 118. 6
80.1
120.7
120.1
126.3
118.6 ' 118. 6 ' 118. 4 ' 118. 7 '117.9
79.7
81.1
81.5
77.3
81.1
119.0
120.1
118.8
118.8
118.9
120.5
120.3
119.6
120.2
120.6
127.0
126.4
127. 1
127.1
126.6
' 117. 1 '117.8 '115.4 ' 115. 5 ' 115. 5 ' 114. 1
81.6
82.2
81.1
82.0
80.9
81.8
120.6
119.6
113.4
121.4
121.9
122.5
116.3
114.7
117.5
118.1
118.7
116.0
118.6
124.0
120.8
123.3
121.8
120.0
112.1
80.6
116.1
112.9
117.1
Ordnance and accessories _ .
Lumber and wood products
Furniture and
fixtures
Stone, clay, and glass products
, .do
do
do
do
217.7
96.0
132.6
112.6
215.3
95.2
131.6
112.9
212.0
93.6
130.0
111.5
205.7
93.8
130.3
112.3
197. 3
93.7
129.4
112.7
192.3
92.6
128.7
112.2
190.5
93.6
127.7
112.5
186.9
94.2
127 A
113.2
178.2
96.3
125.5
110.9
180.1
92.1
123.3
111.3
174.6
90.1
123.6
110.5
164.2
89.5
122.0
108.5
Primary metal industries
Fabricated metal products
Machinery, except electrical .
do
do
-do
113.2
131.0
138.3
114.4
131.3
138.8
114.6
131.3
138.1
116.0
131.4
137.8
118. 0
131. 2
139. 3
118.6
129.8
139.1
116.8
129.7
137.8
116.3
130.5
139.8
113.4
129.0
137.7
111.1
126.9
136.5
109.6
126.9
136.2
106.5
125.2
133.8
Electrical equipment and supplies
Transportation equipment
Instruments and related products
Miscellaneous manufacturing ind
do
do
-do
do ..
149.1
119.8
132.8
109.8
148.9
123.3
132.7
110.2
148.9
125.0
132.7
110.8
148.1
122.8
132.7
109.2
148. 5
123. 6
132. 1
108.6
148.5
121.7
130.7
108.7
136.3
116.1
130.9
107.1
136.0
117.0
130.9
112.7
135.7
112.0
128.9
110.1
140.8
104.7
127.3
108.1
143.0
110.4
128.9
108.0
141.5
107.4
128.3
106.1
138.2
110.4
127.8
103.0
112.0
97.2
79.7
106.8
118.1
112.2
96.9
81.5
107.2
118.0
112.1
96.9
78.8
107.2
117.4
111.8
97.9
81.6
105.6
116.6
111.4
97.8
78.7
105.1
116. 0
110.7
95.4
77.3
104.6
115.9
111.4
98.1
76.0
104.9
115.8
111.8
98.0
70.6
105.6
116.9
111.9
99.5
78.2
104.8
116.0
110.8
100.0
76.2
102.7
114.1
110.4
99.0
76.6
102.2
114.2
109.7
97.7
78.2
103.1
113.5
107.5
97.0
80.1
99.9
111.4
120.7
118.9
125.4
83.1
167.4
91.8
121.1
120.0
126.0
82.4
168.5
91.2
121.1
120.5
125.8
83.4
168.1
90.2
120.9
120.5
125.4
83.4
166.5
89.4
121. 3
120. 6
125. 0
82.2
166.6
87.1
121.0
121.0
124.3
83.0
165.5
88.3
120.7
121.8
124.6
83.0
164.7
88.2
121.7
122.6
124.8
82.4
165.2
89.5
121.9
121.3
125.2
83.5
165.1
88.7
120.2
120.5
124.0
83.9
163.7
86.5
120.2
120.5
123.4
82.9
162.1
86.9
119.5
120.0
121.6
81.5
160.3
87.2
117.3
118.7
120.6
80.8
147.4
86.1
Nondurable goods
do
Food and kindred products .
do
Tobacco manufactures
... .do
Textile mill products
do
Apparel and other textile products
do
Paper and allied products
Printing and publishing
Chemicals and allied products
Petroleum and coal products
Rubber and plastics products, nee
Leather and leather products
-do..
do
do
do
do
do
' Revised.
* Preliminary.
^Beginning with the June 1970 SURVEY,, payroll employment,, hours,, earnings, and turnover
datafor
reflect
actual employment levels for Mar. 1969 and new seasonal factors. Data in the 1969
Digitized
FRASER
BUSINESS STATISTICS are in accordance with Mar. 1968 benchmarks and are not comparable
161.9
91.0
118.3
105.8
105.5
121.6
129.9
with c urrent ej>timates nor with the rev ised hist()rical sta tistics to appear n the 1970 BLS
STATESj, 1909-70," to be a vailable
Bullet in No..1312-7,, "ElUPLOYMI:NTAND]EARNING s,, UNITE D
fK nn
r,u D.C.
T^k n 20402.
of»>ina
from the Superintendent of Documents, Govt. Printing Office,
Wash.,
4 v-, *<,,,-.
f\
\\Trt
SUEVEY OF CURRENT BUSINESS
June 1970
Unless otherwise stated in footnotes below, data
through 1968 and descriptive notes are as shown
in the 1969 edition of BUSINESS STATISTICS
1968 |
1969
1969
Annual
S-15
Apr.
May
June
July
Aug.
1970
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May *>
LABOR FORCE, EMPLOYMENT, AND EARNINGS—Continued
WEEKLY AND HOURLY EARNINGS
Not Seasonally Adjusted
Avg. weekly gross earnings per prod, worker on payrolls of private nonagricultural estab.: 1
Mining
dollars ' 142. 71 ' 154. 80
164.93
181. 16
Contract construction
do
122. 51
129. 51
Manufacturing establishments
do
r 155.37 ' 150.59 ' 154.37 ' 156.96 ' 158.41 ' 159.78 ' 161.08 '160.64 ' 159.05 '160.60 ' 160. 27 ' 163. 35 164.16
180. 30 180. 48 184.21 187.68 193.36 189. 97 184.39 189. 13 181.00 186. 21 '188.23 192. 53 194.44
128. 61 130.06 128.88 129. 92 132.84 132. 28 132. 36 134. 89 131. 93 130. 94 132. 40 131.80 133. 67
do
do
do
do
do
132. 07
135. 29
104.34
100.28
124. 98
140. 01
138. 17
110. 15
105. 85
133. 98
138. 69
137. 70
109. 48
105.04
134. 41
139. 86
139. 94
110. 43
106.90
134. 51
138. 24
135. 72
109.18
104.01
133. 34
139. 33
137. 89
112. 16
107. 71
136. 53
143. 45
140. 48
114. 45
109.08
137. 80
142.83
140. 24
114. 05
108. 81
137. 67
142. 55
143. 32
114. 11
108. 81
137. 85
145.53
143. 91
113.88
110. 57
137. 76
142.04
144.73
110. 65
105. 42
134. 15
140. 24
144. 43
111.90
104.49
134. 15
'142.51
'145.66
' 112. 97
' 105. 96
137. 12
' 141. 50
' 146. 06
'115.31
' 105. 65
' 138. 28
144. 18
145.66
120.88
106.43
139. 10
Primary metal industries
Fabricated metal products.
Machinery, except electrical
Electrical equip, and supplies
Transportation equipment
Instruments and related products
Miscellaneous manufacturing ind
do
do
do
do
do
do
do
147.68
131. 77
141. 46
118. 08
155. 72
120. 69
98.50
158. 42
138.94
152. 15
124. 84
161. 85
128. 21
103. 74
157. 13
138. 44
15L66
124. 34
158. 18
126. 98
102.96
158. 34
139. 86
152. 08
125. 36
160.58
128. 74
103. 88
157. 66
137. 20
148. 81
122. 98
162. 24
126. 77
101.64
160.51
139. 28
149. 94
124. 93
158. 76
128. 21
103. 22
162. 93
143. 14
155.00
127. 39
166. 66
131. 43
105.06
160.55
141. 36
155. 61
126. 45
165. 51
131. 29
105. 72
159. 39
141. 86
154.87
126. 77
165. 17
132. 75
106.90
161. 38
143. 79
160.33
129. 65
170. 49
134.23
109.02
159. 42
141. 45
156.14
128. 15
161. 20
132. 03
108. 25
157. 08
140. 48
155. 87
127.04
157. 21
131. 45
108.64
' 157. 49 ' 157. 56
'142.33 ' 142. 45
'157.88 ' 156. 04
' 129. 92 ' 128. 70
160.40 ' 157. 20
'133.50 ' 132. 59
109. 20 108.64
159. 56
143.26
153. 78
130.22
167. 69
133. 32
108. 08
Nondurable goods
.
Food and kindred products
Tobacco manufactures
Textile mill products...
Apparel and other textile products
do
do
do
do
do
109. 05
114. 24
93.99
91.05
79.78
115.53
120. 77
97.99
95.47
82.93
114. 34
119. 48
103. 02
94.07
82.67
115. 31
120.66
111. 72
95.63
83.49
116. 22
122. 36
104.15
95.65
81.85
116. 51
121. 72
93.38
97.58
83.85
118.00
124. 15
97.89
98.81
83.77
117. 51
121. 29
96. 11
98.57
83.77
118. 21
123. 41
97.73
99.46
83.77
119. 60
124.64
98.26
99.95
84.37
117. 99
124. 74
106.39
96.80
83.07
117. 69
123. 20
106.64
96.80
83.78
'118.78 ' 118. 26
' 124. 00 124. 18
105. 56 '110.93
' 97. 04 ' 96. 96
' 84. 85 '83.90
118. 95
127. 98
118. 65
96.47
83.42
Paper and allied products
do
Printing and publishingdo
Chemicals and allied products
_ _ do
Petroleum and coal products
do
Rubber and plastics products, nee
do
Leather and leather products
do
130. 85
133. 28
136. 27
159. 38
121. 18
85.41
139. 32
141. 70
145. 05
170. 40
126. 18
87.79
137.60
140. 18
143. 72
174.50
125. 25
87.66
139. 21
141. 31
144.63
169. 58
125. 97
88.83
140. 61
141. 31
145.53
175. 71
126. 07
87.52
141. 37
142. 82
145. 95
171. 17
126. 28
87. 19
143. 32
144.75
147. 14
172. 10
129.90
87.58
142.66
144.77
148.04
173. 77
128. 86
88.80
142. 43
145. 15
149. 52
175. 07
128.64
90.51
144. 29
148. 59
150.36
170. 97
130. 31
93.45
142.04
143. 26
150.12
176. 40
128. 21
92.74
140. 37
144.02
149. 76
176. 81
127. 48
92.38
' 140. 70 ' 140. 53
' 145. 92 ' 145. 15
'150.48 ' 150. 18
' 176. 81 ' 179. 77
127. 26 ' 127. 03
' 91. 64 '90.02
142.80
145. 51
150.28
181. 45
124.66
92.75
86.40
122. 31
74.95
101. 75
91.14
129. 85
78.66
108. 33
89.92
128.00
77.63
107. 30
91.55
129. 92
79.58
108. 70
93.08
130. 17
80.96
107. 96
93.70
131. 22
81.19
108.04
92.46
132. 18
79.69
108. 41
92.13
132. 59
79.20
109.45
92.58
133. 87
79.30
111. 23
93.18
135. 94
80.14
110. 26
93.02
134.67
79.49
111. 44
93.80
93.80 '93.88
135. 20 136.00 135. 26
79.92 ' 80. 49 ' 80. 59
112. 48 ' 112. 85 '111.81
94.50
136. 40
80.83
111.20
3.35
4.41
3.01
••3.60
4.78
3.19
'3.58
4.72
3.16
'3.56
4.70
3.18
'3.59
4.76
3.19
'3.60
4.80
3.20
'3.65
4.92
3.24
'3.69
4.96
3.25
'3.72
4.97
3.26
'3.71
5.03
3.29
'3.76
5.07
3.29
'3.77
5.06
3.29
Durable goods
Ordnance and accessories
Lumber and wood products
Furniture and
fixtures
Stone, clay, and glass products
Wholesale and retail trade
Wholesale trade .
Retail trade..
Finance, insurance, and real estate
do .
do
do
do
Average hourly gross earnings per production
worker on payrolls of nonagricultural estab.: 1
Mining
dollars
Contract construction
do
Manufacturing
..
do
Excluding overtime
do
Durable goods.
.do
Excluding overtime
do
Ordnance and accessories ...
do
Lumber and wood products
do
Furniture and
fixtures
do
Stone, clay, and glass products
do
Primary metal industries
Fabricated metal products . .
Machinery, except electrical.. .
Electrical equip, and supplies
Transportation equipment
_
Instruments and related products
Miscellaneous manufacturing ind
Nondurable goods.
Excluding overtime
Food and kindred products
Tobacco manufactures
Textile mill products
Apparel and other textile products
Paper and allied products
Printing and publishing.
Chemicals and allied products
Petroleum and coal products
Rubber and plastics products, nee
Leather and leather products
Wholesale and retail trade __
Wholesale trade. _.
Retail trade
Finance, insurance, and real estate
'3.79
5.08
3.32
3.21
'3.52
3.40
'3.58
'2.89
2.73
'3.34
3.80
5.09
3.35
3.23
3.56
3.43
3.57
2.97
2.75
3.36
3.19
3.39
3.35
3.37
3.38
3.39
3.44
3.45
3.46
3.49
3.49
3.48
3.26
2.57
2.47
2.99
3.42
2.74
2.62
3.19
3.40
2.69
2.60
3.17
3.43
2.72
2.62
3.18
3.41
2.75
2.62
3.19
3.43
2.79
2.64
3.22
3.46
2.84
2.68
3.25
3.48
2.83
2.68
3.27
3.53
2.86
2.70
3.29
3.51
2.84
2.71
3.28
3.53
2.83
2.71
3.28
3.54
2.84
2.70
3.28
3.78
'5.06
3.31
3.19
'3.51
3.38
'3.57
'2.86
2.71
3.32
do
do
do
do
do
do ..
do
3.55
3.16
3.36
2.93
3.69
2.98
2.50
3.79
3.34
3.58
3.09
3.90
3.15
2.66
3.75
3.32
3.56
3.07
3.83
3.12
2.64
3.77
3.33
3.57
3.08
3.86
3.14
2.65
3.79
3.33
3.56
3.09
3.90
3.13
2.64
3.84
3.34
3.57
3.10
3.92
3.15
2.64
3.87
3.40
3.63
3.13
3.94
3.19
2.68
3.85
3.39
3.67
3.13
3.95
3.21
2.69
3.85
3.41
3.67
3.13
3.98
3.23
2.72
3.87
3.44
3.72
3.17
4.04
3.25
2.76
3.86
3.45
3.70
3.18
4.02
3.26
2.79
3.85
3.46
3.72
3.20
3.97
3.27
2.80
'3.86
'3.48
'3.75
'3.24
4.01
'3.28
2.80
'3.90
'3.50
'3.76
'3.25
'4.00
'3.29
2.80
3.93
3.52
3.76
3.28
4.06
3.30
2.80
do
do
do
do
do
do
do
do
do . . .
do
do
do
do
do
do
do
2.74
2.91
2.88
2.89
2.92
2.92
2.95
2.96
2.97
2.99
3.01
3.01
2.80
2.48
2.21
2.21
3.05
3.48
3.26
3.75
2.92
2.23
2.40
3.05
2.16
2.75
2.96
2.62
2.34
2.31
3.24
3.69
3.47
4.00
3.07
2.36
2.56
3.23
2.30
2.92
2.95
2.74
2.30
2.29
3.20
3.66
3.43
4.03
3.04
2.35
2.54
3.20
2.29
2.90
2.95
2.80
2.31
2.30
3.23
3.68
3.46
3.99
3.05
2.35
2.55
3.24
2.30
2.93
2.97
2.77
2.35
2.28
3.27
3.68
3.49
4.03
3.09
2.34
2.55
3.23
2.30
2.91
2.94
2.49
2.38
2.31
3.28
3.70
3.50
3.99
3.08
2.35
2.56
3.24
2.30
2.92
2.97
2.51
2.41
2.34
3.31
3.75
3.52
4.04
3.13
2.38
2.59
3.28
2.33
2.93
2.98
2.49
2.41
2.34
3.31
3.77
3.55
4.06
3.12
2.40
2.61
3.29
2.35
2.95
3.01
2.62
2.42
2.34
3.32
3.78
3.56
4.10
3.13
2.42
2.63
3.33
2.36
2.99
3.04
2.67
2.42
2.35
3.34
3.81
3.58
4.10
3.14
2.44
2.61
3.34
2.35
2.98
3.08
2.86
2.42
2.36
3.35
3.80
3.60
4.21
3.15
2.46
2.65
3.35
2.38
3.02
3.08
2.89
2.42
2.36
3.35
3.81
3.60
4.23
3.14
2.47
2.68
3.38
2.40
3.04
'3.03
'2.92
3.10
2.90
'2.42
'2.37
3.35
'3.84
'3.60
'4.23
3.15
2.47
2.68
3.40
'2.41
'3.05
'3.04
2.93
3.12
'2.99
2.43
'2.37
3.37
'3.85
'3.61
'4.27
3.16
2.48
2.69
3.39
'2.42
3.03
3.05
2.95
3.16
3.05
2.43
2.37
3.40
3.87
3.63
4.31
3.14
2.50
2.70
3.41
2.42
3.03
4.201
5.956
1.44
13.466
4.629
6.514
1.58
v 3. 691
4.495
6.314
4.657
6.502
4.718
6.627
1.58
3.725
4.748
6.672
4.751
6.738
4.823
6.767
1.51
3.717
4.848
6.802
4.853
6.831
4.891
6.903
1.67
4.913
6.912
4.927
6.921
4.963
6.963
1.66
5.048
7.144
Miscellaneous hourly wages:
Construction wages, 20 cities (EN R) : cf
Common labor
$perhr_.
Skilled labor
do
Farm, without board or rm., 1st of mo
do
Railroad wages (average, class I)
do
4.435
6.261
1.59
3.692
3.760 3.749
3.628 3.651
3.798 3.747
PRIVATE NONFARM SECTOR 1
Not Seasonally Adjusted
Employees on payrolls, exc. gov't. and farm:
Unadjusted.
thous.. ' 56, 070 "58,071 r 57,329 r 57,773 58,789 ' 58,688 '59,060 ' 58,917 r 58,960 ' 58,895 ' 59,209 ' 57,482 ' 57,451 '57,780 '57,963 58,014
Seasonally adjusted
do
57, 857 57,986 58,127 58,203 58,286 58,383 58,546 58,487 58,484 58,602 58,698 '58,739 '58,500 58,202
Production or nonsupervisory workers .. do_.
46, 475
48,095 47,448 47,837 48, 757 48, 616 48, 957 48,846 48, 875 48,800 49,098 47,393 47, 316 '47,648 '47,820 47,886
Hrs. (gross), av. weekly: Unadjusted- - .hours..
37.5
38.0
37.2 '37.0
37.8
37.7
38.0
38.2
37.1
37.7
38.1
37.5
37.1
37.7
37.7
37.1
Seasonally adj . .do
37.9
37.4 '37.3
37.2
37.8
37.8
37.6
37.6
37.5
37.4
37.8
37.8
37.6
Hourly earnings (gross), average
dollars. .
2.85
3.05
3.04
3.01
3.03
3.04
3.10
3.17
3.18
3.20
2.98
3.11
3.11
3.13
3.15
3.12
Weekly earnings (gross) , average
do .
114. 61 111. 75 113. 48 115. 14 115. 82 116. 51 117.80 117. 25 117.00 117. 25 116. 12 116. 87 117. 92 ' 117. 66 118. 72
107. 73
Spendable earnings per worker (with 3 dependents), total private.. current dollars. .
'99.19 100.46 ' 100.98 ' 101.51 ' 102.49 '102.06 ' 102.11 '102.30 101. 97 ' 102. 32 103. 39 ' 103.18 104.02
1957-59 dollars
78.23 78.73 78.77
78.87
78.63 78.25 77.91 77.37
77.62 '77.00
77.28
79.27
77.22
Manufacturing
current dollars. . 106.75
111. 55
110. 74 111. 86 110. 95 111. 75 114. 01 113. 57 113. 63 115. 61 114. 48 113. 69 114.85 ' 114.37 115. 85
1957-59 dollars..
88.09
87.33 87.66
86.83 88.17
85.35 86.07
87.31
86.54
87.50 87.07
88.05 86.86 85.80 86.22
r
Revised.
» Preliminary.
»Includes adjustments not distributed by months.
NOTE FOR WORK STOPPAGES, P. S-16:
2 Revisions for Jan.-Mar. 1969 (in order
1 See corresponding note, p. S-14.
cf Wages as of June I, 1970: Common, $5.168; skilled,
and units as shown on p. S-16): Stoppages—342; 385; 436; workers—185; 177; 158; stoppages—
$7.240.
511; 578; 651; workers—264; 340; 386; man-days idle—3,173; 2,566; 2,412.
SURVEY OF CURRENT BUSINESS
Sr-16
Unless otherwise stated in footnotes below, data
through 1968 and descriptive notes are as shown
in the 1969 edition of BUSINESS STATISTICS
1968
1969
1969
Apr.
Annual
June 1970
June
May
July
Aug.
1970
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Apr.
Mar.
May
LABOR FORCE, EMPLOYMENT, AND EARNINGS—Continued
HELP-WANTED ADVERTISING
Seasonally adjusted index*—
1957-59=100..
LABOR TURNOVER J
Manufacturing establishments:
Unadjusted for seasonal variation:
Accession rate, total
mo. rate per 100 employees. _
New hires
do
Separation rate, total
do
Quit
- do
Layoff
-do
Seasonally adjusted:
Accession rate total
do
Separation rate total
Quit
Layoff
--
-
206
••227
233
232
228
227
224
235
227
222
217
203
203
4.6
4.7
3.7
4.9
2.7
1.2
4.5
3.5
4.5
2.6
.9
4.8
3.8
4.6
2.7
.9
6.6
5.4
'4.6
r 2.6
i.o
5.1
3.9
5.3
2.6
1.6
5.6
4.3
6.2
4.0
1.1
5.9
4.8
6.6
4.4
1.1
'5.0
4.0
5.3
2.9
1.3
3.6
2.8
4.3
2.1
1.3
2.9
2.1
'4.2
1.6
1.8
4.0
2.9
4.8
2.1
1.7
3.6
2.5
4.3
1.9
'1.6
4.8
3.7
5.0
2.8
1.1
'4 9
38
'5.0
r
2.
8
r
1.2
r4 7
'3.8
4.9
2.7
'1.1
4.5
3.5
'5.0
'2.8
'1.2
4.8
3.8
4.8
'2.6
1.2
4 7
36
5.0
2.7
1.3
4 4
34
4 8
2.6
'1.3
46
35
'4 5
2.5
1.4
'4 2
33
'5 0
2.5
1.5
'528
'255
'538
' 191
'554
' 186
'324
' 131
' 196
' 51
3.5
4.6
2.5
1.2
do
do_ _
do
INDUSTRIAL DISPUTES
Strikes and lockouts:
Beginning in period:
'723
5,045 ' 5, 700 ••2578
'565
Work stoppages
number
2,649 ' 2, 481 '2310
'286
'215
Workers involved
.
_ thous
In effect during month:
'2831 ' 1, 054
'911
Work stoppages
number
r
'2462
508
' 500
Workers involved
thous
Man-days idle during period
do - . 49, 018 ' 42, 869 '2 3, 755 ' 4, 745 ' 4, 723
EMPLOYMENT SERVICE AND UNEMPLOYMENT INSURANCE
454
5,153
437
5,733
512
Nonfarm placements
__
thous..
Unemployment insurance programs:
1,162
1,177
970
1,187
911
Insured unemployment, all programs . do
State programs:
10, 385
10, 463
756
613
710
Initial claims
do
1,101
1,090
906
852
Insured unemployment, weekly avg_..do
1,111
Percent of covered employment: d"
2.1
2.2
2.2
1.7
Unadjusted
1.8
2.0
2 0
2.1
Seasonally adjusted
1,022
923
936
800
744
Beneficiaries, weekly average
thous._
200.1
2, 031. 6 2, 127. 9
153.0
135.0
Benefits paid
mil. $
Federal employees, insured unemployment,
20
20
17
23
weekly average
thous__
18
Veterans' program (UCX):
333
22
289
20
Initial claims . _
_
do
26
32
37
35
30
29
Insured unemployment, weekly avg.-.do
34
29
35
27
Beneficiaries, weekly average - _. _ . do
28
87.0
7.4
69.2
5.5
Benefits paid
mil. $
58
Railroad program:
139
100
5
11
11
Applications
-_
thous._
11
20
17
18
Insured unemployment, weekly avg do
17
37.0
40.4
3.4
Benefits paid
mil. $
2.0
2.8
194
186
'3.7
'2 6
' 4.5
' 1.9
1.6
*3.7
i>2 6
*>4. 8
P2. 1
» 1.7
4 3
3.1
5.1
2.4
1.7
'3 9
'3 0
' 5.0
'2.2
1.8
?4 0
p28
P5.2
*2. 2
"2.0
260
55
290
106
390
294
420
'904
'883
'915
'850
' 611 '446
' 462
'395
' 274
233
' 421 '368
' 276
'4,311 '3 634 ' 2, 193 '3 168 ' 4 308 ' 3 882 3,730
460
296
1,820
570
364
2 230
'531
'337
3
3
"180
600
319
810
3
385
4, 181
469
471
503
463
372
311
326
295
328
351
1,088
1,015
902
929
1 105
1,464
1,957
1 987
1 915
1,884
1,105
1,021
731
948
655
840
745
864
866
1,030
1,363
1,375
1 529
1,847
1 169
1,874
1 078
1,798
1 333
1,770
2.0
2 2
788
159.2
1.8
2 2
832
156.7
1.6
2 2
706
136.2
1.6
2 2
686
139.5
20
2 3
763
136 6
2.7
23
1,020
214.3
3.6
2 5
1,459
299 4
36
2 6
1,629
310 8
35
27
1,581
331 1
3.4
32
1,533
320 2
19
18
17
18
22
24
28
30
29
27
32
36
31
69
27
37
35
7.2
26
32
30
6 5
29
32
28
6 3
30
38
32
6 2
39
48
42
95
44
61
55
12 0
38
66
61
12 0
42
69
66
14 2
39
70
67
14 6
17
13
21
7
13
2.4
6
13
25
10
15
2 9
5
14
2 5
5
17
32
9
20
4 1
4
18
3 4
9
19
37
17
5 145
29, 515
11, 309
18, 206
5, 232
29, 663
11 871
17, 792
5,256
31,881
12 086
19, 795
5,212
33, 551
12 524
21, 027
5 451
31, 624
11 817
19, 807
5 288
34, 277
12 038
22, 239
5 249
35, 935
12 875
23,060
5 352
37, 079
13 634
23 445
5 614
37, 811
13 735
24' 146
12 996 112 819 112 803
13 204
13 388
13 597
13 826
14 032
6 714
1 732
4 758
6 738
1 804
4 846
6 777
1 844
4 975
6 833
1*840
5 154
6 891
1 828
5 313
FINANCE
BANKING
Open market paper outstanding, end of period:
Bankers' acceptances
_
mil. $
Commercial and finance co. paper, total
do
Placed through dealers
do
Placed directly (finance paper)
_do
Agricultural loans and discounts outstanding of
agencies supervised by the Farm Credit Adm.:
Total, end of period
mil. $
Farm mortgage loans:
Federal land banks
do
Loans to cooperatives
do __
Other loans and discounts
do
4,428
20, 497
7,201
13, 296
5,451
31, 624
11,817
19, 807
11, 748
13, 204 U2 344 i 12, 514
6,126
1,577
4,044
6,714
1,732
4,758
Bank debits to demand deposit accounts, except
interbank and U.S. Government accounts,
annual rates, seasonally adjusted:
Total (233 SMSA's)O
bil $
New York SMSA
do
Total 232 SMSA's (except N.Y.)
6 other leading SMSA's 1- 226 other SMSA's
4 510
24,390
10 076
14, 314
6 412
1,648
1
4 284
4,668
25,305
9,931
15, 374
6,484
1,614
1
4, 416
4,880
26, 007
10, 159
15, 848
4,991
28, 341
10, 352
17, 989
12 941 U2 854 *12 841
6 557
1,594
4,790
6 605
1,594
i 4 655
6,645
1,573
1
4 624
6 676
1, 585
4 736
6 700
1,680
14 439
6 704
1 705
14 394
8 8876 9 147 7 9 384 8 9 242 8 9 430 1 9 737 2 9 527 0 9 484 4 9 560 4 9 547 5 r9 793 6 '9 84^ 7 10 163 5
3 902 0 4,097 6 4 155 7 3 908 6 4 148 4 4 311 5 4* 127 6 4 207 5 4 198 2 4 054 0 4 232 1 4 336 7 4 422 0
....do....
do
do
4,985.7 5,050.1 5,229.1 5, 334. 2 5, 281. 7 5,425.7 5, 399. 3 5,276.9 5, 362. 2 5, 493. 5 5,561.9 '5,506.0 5,741.5
2, 028. 9 2, 083. 2 2, 164. 4 2 244 4 2,242 8 2 249 6 2 254 7 2 224 8 2 212 9 2 277 4 r2 309 1 r2 291 4 2 417 9
2956 7 2,966 8 3064 7 3 089 8 3 038 9 3 176 2 3 144 7 3 052 1 3 149 3 3 216 1 3 252 3 '3 214 6 3 323 6
Federal Reserve banks, condition, end of period:
Assets, total 9
mil $
78 972
84 050
82 213
80 753 80 516
79 473
80 281
80 285
81 919
84 315
Reserve bank credit outstanding, total 9 ..do
Discounts and advances
do
U.S. Government securities
. do_
56, 614
188
52, 937
60, 841
183
57, 154
58, 108
2 532
53, 113
56, 891
1,832
53, 759
56,601
1 049
54, 095
57, 454
750
54, 138
58,626
1 514
54,911
56, 948
928
54 134
59, 592
1 690
55 515
61, 603 60,841
183
1 531
57 318 57 154
Gold certificate account
_ _
84 050
83 283
82 709 ' 84 690 84 014
59, 931 59, 595
1 565 1 148
55 709 55 823
59, 348 ' 60,729 61, 673
' 545 1 454
684
55 785 56 508 57 307
83 133
do
10, 026
10, 036
10 023
10 022
10 027
10 027
10 027
10 036
10 036
10 036
10 036
11 036
11 045
11 045
do
78 972
84 050
82 213
80 753 80 516
79 473
80 281
80 285
81 919
84 315
84 050
83 133
83 283
82 709 ' 84 690 84 014
Deposits, total
Member-bank reserve balances
do
do
23 473
21,807
24 338
22, 085
25 882
24,344
25 405 22 714
23, 705 20, 750
23 331
21,772
24 271
22, 789
23 317
21, 656
25 150
23, 613
24 948
23, 385
24 338
22,085
25 608
23,637
25 348
23, 344
24 726 ' 25 895 25 177
22, 495 ' 23,082 23, 031
Federal Reserve notes in circulation
do
45, 510
48, 244
44, 196
44, 811
45, 566
45, 885
45, 818
46, 128
47, 191
48, 244
46, 831
46, 689
46, 992 ' 47,254
Liabilities, total 9
45, 299
' Revised.
*> Preliminary.
1 Data for indicated month exclude loans by Federal
Intermediate Credit Banks outside the Farm Credit Adm. system.
t Revised (back to
1960) to incorporate new seasonal factors; see note "}", p. S-15, Oct.2 1969 SURVEY for data
through
May
1968
(revisions
for
June
and
July
1968,
197
and
204).
See
note 2 on p. S-15.
3
Excludes figures for the interstate trucking industry stoppage.
11 045
11 045
47, 879
cflnsured unemployment as % of average covered employment in a 12-month period.
OTotal SMSA's include some cities and counties not designated as SMSA's.
^Includes Boston, Philadelphia, Chicago, Detroit, San Francisco-Oakland and Los
Angeles-Long Beach.
9 Includes data not shown separately.
t See note "t" p. s-14.
SURVEY OF CURRENT BUSINESS
June 1970
Unless otherwise stated in footnotes below, data
through 1968 and descriptive notes are as shown
in the 1969 edition of BUSINESS STATISTICS
1968
| 1969
End of year
S-17
1S70
1969
Apr.
May
June
July
Aug.
Sept.
Oct.
26, 971
26 735
27,340
27197
Apr.
Dec.
Jan.
Feb.
Mar.
27,764
27 511
28,031
27, 774
28,858
28, 692
27,976
27, 703
1,241
—988
1,086
-829
965
-799
1.092
-819
27,473 '28,096
27,358 r 27, 978
r
115
118
'822
896
-781 '-704
79 342
90288
81 666
78320
| Nov.
May
FINANCE—Continued
BANKING— Continued
All member banks of Federal Reserve System,
averages of daily figures:
Reserves held, total __
__ mil. $_. 127,221 128,031
i 26, 766 i 27, 774
Required
do
1455
1257
Excess
do
1765
11,086
Borrowings from Federal Reserve banks... do
1-310 i -829
Free reserves
_
.
do
27, 079
26 927
152
27, 903
27 603
300
1,407
1,402
996
-844 -1,102 -1,064
1,190
-1,074
1,249
-946
1,067
—831
1,135
—992
77 039
78 126
79 445
80556
79 646
88879
2 90 288
79 370
150897
105,605
2
7,942
2
2 989
2
20 801
134 767 127253
92,701 89,412
6,270
7 005
4 112
6 946
16 316 16240
Time, total 9
Individuals, partnerships, and corp.:
Savings
Other time
do
112,163
2
do
do
49, 149
45, 076
68
29
24
38
do
do
do
do
324
358
038
966
27, 079
26 776
236
144,249
102,790
7,671
3,437
19, 060
Investments, total
._
U.S. Government securities, total
Notes and bonds
Other securities..
_
26, 980
26 864
303
Demand, total 9
do
Individuals, partnerships, and corp
do
State and local governments...
do
U.S. Government
do
Domestic commercial banks. .
..do
161,820
74, 149
9,563
11, 872
32 106
40, 619
343
116
Large commercial banks reporting to Federal Reserve System, Wed. nearest end of yr. or mo.:J
Deposits:
Demand, adjustedcf
mil $
Loans (adjusted), totaled
do .
Commercial and industrial
...do
For purchasing or carrying securities
do
To nonbankfinancialinstitutions. . _
do. . _
Real estate loans. .
_
. d o
Other loans..
.do
27,317
26 974
78 210
136 493 127 148
94,149 90,091
2
6, 701
6 231
2
3 654
3 382
18995 16 127
143
29 567 135 023 131 706
91,904 92,621 90,846
6,952
6,361
5 788
3 879
1 228
4 754
18 183 17, 613 17 070
253
257
166
135 725 150,897 131 847
93,110 105,605 92,210
7,942
6,452
6,371
2,989
4 474
3 908
18951 20,801 16239
273
27, 890
27, 728
162
977
-815
84 189 ' 80,542
77, 922
131,911 141,131 '131,784
90,334 97,063 ' 91,703
6,849 ' 6, 447
6,323
4,119 ' 4, 281
5 473
16,995 18, 952 ' 16,407
134, 000
91, 532
6,289
3,440
18,961
96 589
06 949
06 188
103 138 100 601
98 580
97 977
97 170
96 167
96, 589
95 017
95 620
98, 229 ' 99,282
99. 537
2 45 490
2
36 502
47 737
42 908
47 691
42 510
47 573
40 910
46 952
39 740
46 653
38 588
46711
38 026
46 376
37 327
46 318
36 547
46490
36 502
45 820
35 032
45633
35648
46 221 ' 45,892
36 523 ' 36,762
46, 122
37, 024
175 756 162 394
81, 491 76, 659
2
7,811
7,233
2
13 148 11 349
2 33 617 32 876
2
44 177 42 068
61, 977
76, 636
6,927
10 806
33 024
42 920
170 476
78,567
7, 564
11 957
33 239
45 022
168039 166 456
77,629 76, 669
7,276
7,727
10 950 11 138
33 288 33 535
44 662 44 415
168814 167504
78,440 77, 649
6,588
6,261
11 376 10 818
33 676 33 951
45 093 44 602
168 748 175,756
78,310 81,491
7,811
6,521
11 000 13 148
34 097 33 617
44 439 44 177
167 718
78,020
5,964
11 253
33 680
45 771
167,600 170,963
78,215 79, 028
6,246 ' 7, 195
11,066 11 658
33 488 33 440
44 909 r 46 648
2 59
2 23
2 19
2 35
57 048
21 534
19 384
35 514
60
23
19
36
566
616
387
950
r 60867
r 22 878
r 19 455
r 37*989
397
277
49
70
r 3Qg 4
r 276 2
49 8
79 4.
400 4
275 2
51 9
73 4
2
536
853
789
683
63 172
24 789
22 498
38 383
60 758
23 074
21 800
37 684
390 7
261 0
57 7
72 1
392
264
56
72
2
60 169
22 817
21 383
37 352
60 078
23 469
21 140
36 609
59 427
23 336
21 118
36 091
58 066
22 190
20 557
35 876
58 617
23 349
20 103
35 268
59 272
23 668
20 045
35 604
59 536
23 853
19 789
35 683
57 580
22 435
19 542
35 145
397
269
56
71
397
270
56
70
396
271
54
70
396 8
273 3
53 4
399
275
53
71
398 6
276 2
51 8
70 5
396 1
275 3
49 9
70 9
'168,485
' 78,925
' 6, 497
' 11,115
33 367
' 44 815
167, 724
78, 425
6,094
11, 034
33 419
45 477
60
22
20
37
572
662
175
910
Commercial bank credit (last Wed. of mo. , except
for June 30 and Dec. 31 call dates) , seas, adj.:
Total loans and investments©
oil. $
LoansO—
.
do
U.S. Government securities
do
Other securities _
do
384 6
251 6
61 5
71 5
2 398 6
2
276 2
2
51. 8
2 70 5
Money and interest rates: §
Bank rates on short-term business loans:
In 35 centers
percent per annum..
New York City
do
7 other northeast centers
do
36.68
3 6.45
37.01
38.21
38.02
38.53
7.86
7 66
8 18
8.82
8 65
9.14
8.83
8.66
9.21
8.86
8 65
9 23
3
3
6.50
3
6.66
3
6. 64
38.24
37.93
38.19
38.18
7 89
7 66
7.87
7 83
8 85
8 46
8.85
8 75
8 83
8 58
8.79
8 81
8 86
8 67
8.87
8 84
5.50
6.41
6.00
37.23
6.00
6 72
6.00
6.84
6.00
7.02
6.00
7.26
6.00
7.51
6.00
7 69
6.00
7 81
6.00
7.93
6.00
8.15
6.00
8.46
6.00
8.69
6.00
8.76
6.00
8.75
6.00
Home mortgage rates (conventional 1st mortgages):
New home purchase (U.S. avg.)
percent __
Existing home purchase (U.S. avg.)
.do
36.83
36.90
37.66
37.68
7.47
7.46
7.50
7.54
7.62
7.64
7.76
7.79
7.86
7.90
7.89
7.92
7.98
7.98
7.97
8.00
8.07
8.08
8.16
8.13
8.23
8.23
'8.29
8.26
'8.24
'8.19
8.27
8.20
Open market rates, New York City:
Bankers' acceptances (prime, 90 days).. ..do
Commercial paper (prime, 4-6 months)..do
Finance Co. paper placed directly ,3-6 mo.do
Stock Exchange call loans, going rate
do
45.75
45.90
45.69
*6.33
47.61
47.83
47.16
47.96
6.86
7,04
6.38
7.50
7.38
7.35
6.54
7.50
7.99
8.23
7.25
8.31
8.39
8.65
7.89
8.50
8.04
8.33
7.71
8.50
8.14
8.48
7.61
8.50
8.17
8.56
7,86
8.50
8.18
8.46
7.92
8.50
8.58
8.84
7.93
8.50
8.64
8.78
8.14
8.50
8.30
8.55
8.01
8.50
7.60
8.33
7.68
8.40
7.54
8.06
7.26
8.00
8.02
8.23
7.43
8.00
4 5. 339
4 5 59
4 6. 677
4 6 85
6.150
6 15
6.077
6 33
6.493
6 64
7.004
7 02
7.007
7.129
7 *»fl
7.040
7 4.7
7.193
7.720
7.914
8 14
7.164
6.710
7 20
6.480
7 49
7.035
7 97
8 north central centers
7 southeast centers
8 southwest centers. _
4 west coast centers
do
do
do
do
Discount rate (N.Y.F.R. Bank), end of year or
month
percent-Federal intermediate credit bank loans
do _
Yield on U.S. Government securities (taxable):
3-month bills (rate on new issue)
percent.
3-5 year issues
do
3
6.72
2 2 397 3
1 2 2269 2
563
1
2 71 8
0
7
9
8
0
5
3
9
3
7 flR
5
3
7
5
W i
7
5
2
o
7 57
7 Q8
2
i
4
8
7 Rft
r
402
275
52
73
4
8
9
8
CONSUMER CREDIT
(Short- and Intermediate-term)
Total outstanding, end of year or month
mil. $
113 191
do
89 890
98 169
90 663
91 813
93 087
93 833
94 732
95 356
95 850
96 478
98 169
97 402
96 892
96 662
97 104
Automobile paper
Other consumer goods paper
Repair and modernization leans
Personal loans
do
do
do
do
34 130
24 899
3,925
26 936
36 602
27 609
4,040
29 918
04 700
24 399
3 903
97 fi9»
35 230
24 636
3 964
27 983
35 804
24 956
4,022
28 305
36
25
4
28
36
95
4
28
36
25
4
29
321
732
096
207
36 599
25 855
4*084
29 312
36 650
26 223
4*076
29 529
36
27
4
29
602
609
040
918
36 291
27 346
3 991
29 774
OfJ 11Q
26 987
3 970
29 816
36 088
26 814
3 951
29 809
36 264
26 850
3 960
30 030
By type of holder:
Financial institutions, total. .
Commercial banks
__
Sales finance companies
do
do
do
77 457
36 952
18, 219
84 982
40 305
19, 798
79 062
37* 854
18 418
80 155
38 347
18 636
81 388
38 916
18 961
82 130
39 248
19 127
82 910
39 532
19 265
83 440
39 793
19 360
83 949
40 006
19 569
84 301
40 047
19 668
84 982
40 305
19 798
84 531
40 144
19 703
84 393
39 990
19 652
84 308
39 956
19 586
84 802
40 245
19 672
do
do
do ""
10 178
8,913
3 195
11 594
9,740
3 545
10 508
9 008
10 699
9,080
3 0QO
10 939
9,146
11 054
9,293
11 220
9 436
11 347
9 450
3 Ann
11 438
9 436
U 4Q1
9 532
3 KCQ
11 594
9 740
3 KAK
1 1 Afift
9 683
U
4.cn
11 533
9 650
3 KQQ
11 644
9,652
11 822
H
11 901
19 177
337
13 187
19 R71
19 4QQ
331
12 354
'331
12 302
333
Installment credit , total
_
Credit unions..
Consumer finance companies
Other
122, 469 113 231 114 750 115,995 116 597 117 380 118 008 118 515 119 378 122 469 121 074 120 077 119 698 120 402
o 974
0 49R
Retail outlets, total
do
12 433
13 187 11 601 11 658 11 699
Automobile dealers
do
320
336
325
329
333
' Revised.
o.,W^Ifra-ge for Dec;u 2 Be&inning June 1969, data are revised to include all bank-premises
?n™?™ t8'
significant majority-owned domestic subsidiaries; also, loans and
investments are now reported gross. For complete details see the Aug. 1969 Federal Reserve
Bulletin.
3 Average for year.
4 Daily average.
JKevisions for Jan. 1969 are shown in the Mar. 1970 issue of Federal Reserve Bulletin.
cfjor demand deposits, the term "adjusted" denotes demand deposits other than domestic
081
172
039
541
o A.OQ
11 703
335
245
467
063
957
q Afsi
336
QIfi
336
O KAn
338
336
0
COO
9 691
0 CA1
0
KQQ
332
commercial bank and U.S. Government, less cash items in process of collection; for loans'
exclusive of loans to and Federal funds transactions with domestic commercial banks and
after deduction of valuation reserves (individual loan items are shown gross; i.e., before deduction of valuation reserves).
VIncludes data not shown separately.
©Adjusted to exclude interbank loans and beginning June 1969, data are reported gross.
§For bond yields, see p. S-20.
SURVEY OF CURRENT BUSINESS
S-18
Unless otherwise stated in footnotes below, data
through 1968 and descriptive notes are as shown
in the 1969 edition of BUSINESS STATISTICS
1968
1969
1969
Apr.
Annual
June 1970
May
June
July
Aug.
1970
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
FINANCE—Continued
CONSUMER CREDIT— Continued
Outstanding credit—continued
Noninstallment credit, total
Single-payment loans, total
Commercial banks
Other financial institutions
Charge accounts total
Retail outlets
Credit cards
Service credit
Installment credit extended and repaid:
Unadjusted :
Extended total
Automobile paper
Other consumer goods paper
All other
Repaid, total
Automobile paper
Other consumer goods paper
All other
Seasonally adjusted:
Extended, total
._ _ _
Automobile paper
Other consumer goods paper
All other _
__
._
Repaid, total.
_
Automobile paper
Other consumer goods paper
All other. .
mil $
do
do
do
23, 301
9,138
7,975
1,163
24,300
9,096
7,900
1,196
22, 568
9,216
8,040
1,176
22, 937
9,218
8,017
1,201
22,908
9,227
8,031
1,196
22,764
9,120
7,946
1,174
22,648
9,073
7,879
1,194
22, 652
9, 075
7, 882
1,193
22, 665
9,025
7,837
1,188
22,900
9,000
7,795
1,205
24,300
9,096
7,900
1,196
23,672
9,092
7,887
1,205
23,185
9,074
7,857
1,217
23,036
9,054
7,843
1,211
23,298
9,102
7,892
1,210
do
do
do
do
7,755
6,450
1,305
6,408
8,234
6,650
1,584
6,970
6, 557
5,237
1, 320
6,795
6,971
5,609
1,362
6,748
7,002
5,574
1,428
6,679
7,039
5,541
1,498
6,605
6,988
5,438
1,550
6,587
7,i005
5, 448
1, 557
6, 572
7,085
5,568
1,517
6,555
7,238
5,685
1,553
6,662
8,234
6,650
1,584
6,970
7,539
5,932
1,607
7,041
6,789
5,210
1,579
7,322
6,645
5,062
1,583
7,337
6,900
5,289
1,611
7,296
do
do
do
do
97, 053
31, 424
30, 593
35,036
102, 888
32, 354
33, 079
37, 455
9,024
3,023
2,668
3,333
8,960
2,985
2,760
3,215
9,169
3,045
2,832
3,292
8,920
2,828
2,778
3,314
8,604
2,593
2,764
3,247
8,485
2, 566
2, 794
3, 125
8,797
2,939
2,805
3,053
8,173
2,433
2,817
2S923
10,096
2,479
4,004
3,613
7,490
2,130
2,663
2,697
7,106
2,214
2,275
2,617
8,243
2,584
2,725
2,934
8,773
2,776
2,792
3,205
do
do
do
do
88,089
28, 018
28, 089
31, 982
94, 609
29,882
30, 369
34, 358
8,033
2, 552
2,575
2,906
7,810
2,488
2,523
2,799
7,895
2,471
2,512
2,912
8,174
2,551
2,562
3,061
7,705
2,429
2,469
2,807
7,861
2,490
2, 529
2,842
8,303
2,661
2,682
2,960
7,545
2,382
2,449
2,714
8,405
2,527
2,618
3,260
8,257
2,441
2,926
2,890
7,616
2,386
2,634
2,596
8,473
2,615
2,898
2,960
8,331
2,600
2,756
2,975
8,720
2,772
2,763
3,185
8,680
2,757
2,767
3,156
8,705
2,725
2,869
3,111
8,521
2,582
2,777
3,162
8,680
2,634
2,819
3,227
8, 669
2,794
2, 740
3, 135
8,661
2,808
2,707
3,146
8,632
2,683
2,841
3,108
8,344
2,472
2,838
3,034
8,521
2,479
2,925
3,117
8,625
2,536
3,018
3,071
8,392
2,496
2,922
2,974
8,491
2,571
2,843
3,077
7,960
2,519
2,569
2,872
7,834
2,488
2,507
2,839
7,910
2,460
2,602
2,848
7,899
2,471
2,511
2,917
8,080
2,562
2,574
2,944
7, 971
2,498
2, 600
2,873
7,992
2,463
2,615
2,914
8,012
2,503
2,623
2,886
7,929
2,499
2,552
2,878
8,141
2,469
2,722
2,950
8,207
2,550
2,761
2,896
8,194
2,501
2,792
2,901
8,195
2,527
2,729
2,939
20,406 11,832
17, 167 17,602
3, 239 -5, 769
14, 332
15, 225
-894
16,704
15, 232
1,472
16, 303
16, 564
-261
14,929 13, 110
14,990 16, 301
-61 -3, 191
22,029
17, 844
4,185
do.
do
do
do
do
do
do
do
FEDERAL GOVERNMENT FINANCE
Budget receipts, expenditures, and net lending: t
Expenditure account:
Receipts (net)
mil. $
Expenditure (excl. net lending)
do
Expend, acct. surplus or deficit (— )
do
Loan account:
Net lending
.
do
Budget surplus or deficit (— )
Budget financing totalj
Borrowing from the public
Reduction in cash balances .
do
do
do
do
Gross amount of debt outstandingt
do
Held by the public
do
Budget receipts by source and outlays by agency :J
Receipts (net), total
mil $
Individual income taxes (net)
do
Corporation income taxes (net)
do
Social insurance taxes and contributions
(net)
mil. $
Other
do
12153,671 1 2 187,792 23, 596 13,346
12172,802 1 2 183,080 15,922 15, 279
2-19,131 i 2 4, 712 7,674 -1, 932
1 2-6, 030 12-1,476
i 369, 769 i 367, 144 372, 216 373, 677
i 290, 629 i 279,483 289, 557 288, 072
Less: Wage accruals less disbursements
Surplus or deficit (— )
do
do
-342
140
164
1,612
2, 790 -6,112 -1,130
10,283 -3, 153 -2, 107
6,112
1,130 -1,612
-10,283 3,153
2,107 -2, 790
4,388
-375
2,695 -2,012
4,438
-8,587
679
1,724 -1,565
400
-1,696 -1,285
1,428 -2,415
-97
97
-194
291
-485
12-25,161 123,236
7,625 -2,418
2,418
1 2 25,161 1 2-3, 236 -7, 625
1 2 23, 100 12-11,146 -2,456 -1,485
3,903
1 2 2, 061 1 2 7, 910 -5, 169
373
-152
-316
-448
-236
104
-238
367,144 371, 753 374, 098 373, 953 377, 615 381, 192 381, 220 380, 502 380,988 384, 169 379, 316
279,483 283, 921 284, 599 284, 224 288,612 291, 306 289,294 289, 100 288, 961 291, 275 286,584
23,805
10,123
8,588
12,542
6,404
1,070
14, 999
7,230
571
20,406
9, 776
5, 551
11,832
6,636
843
14, 332
7,236
634
16,704
6,774
5,527
16, 303
10, 660
1,127
14,929
6,965
645
13, 110
3,419
4,239
22, 029
10, 701
4,578
3,881
2,286
5,748
2,031
2,823
2,271
2,879
2,190
5,209
1,989
3, 022
2, 057
2,364
1,988
4,078
2,383
2,190
2,214
2,674
1,843
5,408
1,911
3,436
2,016
4,419
2,332
1 2 184,556 15, 972
1 2 8, 330
610
i 2 77,877 6,682
15, 764
344
6,480
13,522
-593
7,262
15, 695
825
6,346
17,106
1,338
6,612
17, 616
1,857
6, 4.79
17,944
1,276
6,982
15, 461
640
6,051
15,092
598
6,584
16, 399
731
6,419
14, 886
-77
5,953
16, 539
296
6,377
18,043
320
6,531
4,169
1,506
353
692
4,054
1,470
367
684
4,231
1,476
326
652
3,951
1,445
319
657
4,000
1,567
337
667
4, 071
1,587
294
691
4,311
1,317
327
691
3,857
1,680
267
708
4,137
1,548
296
718
4,262
1,655
291
726
4,120
1,701
299
717
4,398
1,802
325
798
5,485
1,731
332
748
i 34,622 1 2 39,918
1221,659 1 2 23,948
1 2 46,599
i 16,924
i 4, 247
i 7, 669
201.5
95.6
40.2
18.8
46.9
202.8
96.9
41.0
18.6
46.4
201 3
95.0
39.8
19.1
47.5
203.3
96.7
39.3
19 1
48.1
198.7
94.4
36.2
19.1
49.0
181.5
99.5
78.0
47.8
18.3
11.6
192.0
101.9
79.2
52.4
20.0
13.1
189 3
100.6
78.5
52.1
19 3
12.9
193.6
103.2
80.3
52.7
19.8
13.1
196.7
102.3
79 2
53 9
22.0
13.7
198.4
102.3
78.9
55.8
23.6
14.0
4.3
4.6
4 4
4.6
4.8
5.3
6.6
2.5
.3
-5.2
-200
3,986
43 -3, 429
3,429 -3,986
-43
2,314 -4, 691
-139
705
1,115
96
13,346
4,760
806
12153,671 1 2 187,792 23, 596
i 68. 726 1 2 87,249 12, 106
i 28, 665 i 36, 678
5,323
Expenditures and net lending, total 9
do
12178,833
Agriculture Department
do
17,307
1
Defense Department, military
do
77, 373
Health, Education, and Welfare Department
mil.$__ »240,576
Treasury Department
do
i 14, 655
National Aeronautics and Space Adm do
i 4, 721
Veterans Administration
do
i 6, 858
Receipts and expenditures (national income and
product accounts basis), qtrly. totals seas. adj.
at annual rates:
Federal G overnment receipts, total
bil . $ . . 176.3
Personal tax and nontax receipts _.
do
79.5
Corporate profit tax accruals.
do
38.3
Indirect business tax and nontax accruals. do
18.0
Contributions for social insurance
do
40.5
Federal Government expenditures, total.. _do
Purchases of goods and services
do
National defense
do
Transfer payments
do
Grants-in-aid to State and local govts
do
Net interest paid
do
Subsidies less current surplus of government
enterprises
bil. $..
-50
23, 805 12,542 14, 999
13, 895 15,542 16, 790
9,910 -3,001 -1, 791
9.5
7.7
13 5
LIFE INSURANCE
Institute of Life Insurance:
Assets, total, all U.S. life insurance cos.t
Government securities*
Corporate securities*
.
Mortgage loans, total..
Nonfarm
Real estate
Policy loans and premium notes
Cash
_
Other assets
bil. $
do
do
do
do
do
do
do
do
3188.64
3
10. 51
3
82. 13
3 69. 97
3 64.17
191. 36
10.91
81.43
70.66
64.86
192. 13
10.92
81.77
70.82
64.99
192.31
10.76
82.02
70.96
65.11
193. 04
10.77
82.32
71.08
65.23
194.03
10.78
82.56
71.25
65.39
194. 80
10.74
82.91
71.43
65.56
195. 93
10.73
83.36
71.57
65.77
196. 66
10.74
83.75
71.71
65.92
197.23
10.77
83.58
72.13
66.35
3 5.57
3 11.31
3 1.68
* 7.47
5.65
11.90
1.35
9.45
5.68
12.09
1.32
9.52
5.71
12.32
1.24
9.30
5.79
12.65
1.19
9.24
5.80
12.92
1.20
9.52
5.81
13.17
1.22
9.53
5.85
13.41
1.27
9.74
5.90
13.58
1.29
9.69
5.90
13.80
1.62
9.43
r
Revised.
* Preliminary.
i Data shown in 1968 and 1969 annual columns are for fiscal years ending
June 30 of the
years.
2 includes revisions not distributed to months. 3 Annual data for
Digitizedrespective
for FRASER
3
197. 68 198. 51
10. 96
10.98
84. 76
85.02
72. 34 72.53
3
66. 62
66.84
3
3
3
3
3
5. 92
14. 06
1.24
3
8. 38
3
5.98
14.30
1.20
8.50
199. 40
10.94
85.34
72.62
66.94
5.99
14.54
1.40
8.58
1968 and monthly data beginning 1970 are annual statement values.
\Revisions for July 1967-Mar. 1969 for budget receipts and expenditures and for Jan.-Mar.
1969 for assets of all U.S. life insurance cos. will be shown later.
9 Includes data for items not shown separately.
*New series.
iSURVEY OF CURRENT BUSINESS
June 1970
Unless otherwise stated in footnotes below, data
through 1968 and descriptive notes are as shown
in the 1969 edition of BUSINESS STATISTICS
1968
1969
Annual
S-19
1969
Apr.
May
June
July
Aug.
1970
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
FINANCE— Continued
LIFE INSURANCE— Continued
Institute of Life Insurance— Continued
Payments to policyholders and beneficiaries in
U S total
--- mil. $. 14, 385. 0 15, 524. 5 1, 270. 5 1, 240. 5 1, 287. 1 1, 246. 9 1,251.2 1, 279. 1 1, 280. 5 1, 117. 8 1, 686. 5 1, 285. 2 1, 307. 8 1, 448. 0
6, 209. 3 6, 758. 1 560.7
547.0
556.1
629.4
542.4
588.9 633.7
548.5 553.5 560.4
564.9
Death benefits
-do
483.8
952.6
967.2
81.3
67.2
77.9
85.3
82.2
83.9
82.5
93.5
76.8
Matured endowments
do
71.5
82.7
71.7
204.7
16.0
19.6
195.6
20.0
17.2
16.6
21.3
16.6
18.7
14.2
17.1
16.9
16.3
Disability payments
- do_ _
132.1
131.2
127.6
127.1
123.4
112.2
165.1
140.0
151.3
138.4
129.8
Annuity payments
do_ _ 1, 401. 0 1,558.6
133.8
2, 456. 4 2, 721. 6
232.2
226.3
240.0
231.1
230.9
260.9
195.2
238.3 225.7
234.8 226.6
Surrender values
do
230.2
3, 155. 5 3,328.9
233.4
249.5
229.1
254.6
265.7
612.1
287.7
236.8
248.7 287.3
Policy dividends
do
252.6
223.1
Life Insurance Agency Management Association:
Insurance written (new paid-for insurance) :t
Value, estimated total
.
mil. $.Ordinary (incl. mass-marketed ord.)
do —
Group
-- --do
Industrial
do
Premiums collected:
Total life insurance premiums
do
Ordinary (incl. mass-marketed ord.)
do
Group
do, _Industrial
do
MONETARY STATISTICS
Gold and silver:
Gold:
Monetary stock, U.S. (end of period) _ _ .mil. $..
Net release from earmark§
do.
Exports
thous. $
Imports
do
Production world total
mil $
South Africa
_ .
.
do.
Canada
do
United States
do
Silver:
Exports
..thous. $_.
Imports _
do
Price at New York
_.dol. per fine oz
Production:
Canada
_
_
thous. fine oz
Mexico
do
United States.
do
Currency in circulation (end of period)
bll. $_.
Money supply and related data (avg. of daily fig.) :©
Unadjusted for seasonal variation:
Total money supply
bll. $
Currency outside banks
do
Demand deposits _. .__ _ _
do.
Time deposits adjustedlf
do
U.S. Government demand deposits1[
do
Adjusted for seasonal variation:
Total money supply
do.
Currency outside banks
do
Demand deposits _
do
Time deposits adjusted^
do
Turnover of demand deposits except interbank and
U.S. Govt., annual rates, seas, adjusted:
Total (233 SMSA's)O ratio of debits to deposits
New York SMSA
do. .
Total 232 SMSA's (except N.Y.)
do.._.
6 other leading SMSA'sd"
do.
226 other SMSA's
.do... .
PROFITS AND DIVIDENDS (QTRLY.)
Manufacturing corps. (Fed. Trade and SEC):
Net profit after taxes, all industries
mil. $.
Food and kindred products. _
. _ do
Textile mill products..
do
Lumber and wood products (except furniture)
mil. $-.
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 transport, equip.)
mil. $_.
Machinery (except electrical)
do
Elec. machinery, equip., and supplies
do...
Transportation equipment (except motor
vehicles, etc.)
mil. $
Motor vehicles and equipment
do.
All other manufacturing industries
do
Dividends paid (cash) , all industries
do
Electric utilities, profits after taxes (Federal Reserve)
mil. $
150,495
103,944
39,877
6,674
157,525
111,863
39, 237
6,425
13,726
9,524
3,652
550
12,462
9,461
2,400
601
13,222
9,561
3,127
534
12,076
8,981
2,603
492
13,005
8,707
3,788
510
12,438
8,807
3,094
537
14,136
10, 462
3,108
566
12,957
9,331
3,097
529
18,488
11,025
6,980
483
11,525
8,386
2,703
436
18, 052
13, 510
3,201
1,341
18, 933
13, 142
3,492
1,299
1,555
1,170
289
95
1,531
1,161
275
96
1,536
1,159
282
96
1,580
1,192
294
94
1,520
1,125
300
95
1,564
1,155
311
98
1,626
1,242
286
98
1,440
1,085
264
91
2,009
1,370
393
246
1,524
1,182
238
104
10, 367
187
839, 160
226, 262
^1,420.0
1, 088. 0
94.1
53.9
10, 367
755
12, 287
236, 905
10, 367
48
613
24, 956
10,367
91
358
17, 156
10, 367
-2
193
23, 742
10,367 10,367
-11
17
239
9,531
8,066 19, 519
10, 367
29
364
27,052
10, 367
25
150
19, 817
10, 367
-19
244
22,600
10, 367
687
200
21,863
1, 090. 7
85.2
89.3
7.3
90.0
7.4
91.3
7.3
22 252, 147
145, 153
2.145
3
88, 908
3
12,424
9,450
1.778
27, 930
9,406
1.761
45, 390
4
40, 031
37, 168
41, 926
52,552
3,387
4,059
4,977
4,140
2,974
4,287
3,587
3,212
4,805
51.0
54.0
49.6
50.4
188.6
42.0
146.6
192.4
5.7
198.3
44.8
153.5
198.4
5.6
199.2
43.8
155.3
202.7
5.4
44,909
1.791
12, 621
9,082
3,017
522
14,099
10, 310
3,198
591
15, 309
10, 292
4,462
555
11,367
20
159
12, 487
11,367
23
278
9,772
11,367
-2
293
17, 659
11, 367
-2
272
13, 865
11,367
93.7
6.7
93.9
6.6
95.1
7.0
95.2
6.5
93.6
6.8
89.5
7.1
102.5
7.5
88.4
6.5
94.3
7.1
92.8
8,643 3 8, 365
8,299 35,427
1.645
1.618
10, 889
4,446
1.653
7,838
6,117
1.785
10, 103
4,993
1.872
2,363
3,026
1.923
2,358
3,474
1.807
4,761
3,301
1.876
5,828
3,057
1.896
3,075
4,012
1.888
1,821
3,459
1.853
3,382
3,402
2,645
3,697
4,760
6,017
3,592
3,299
2,912
3,704
3,631
3,993
2,877
3,260
3,495
3,541
3,936
4,516
4,097
4,221
5,008
50.9
51.1
51.5
51.3
51.7
53.0
54.0
51.9
52.0
52.7
53.0
194.4
44.2
150.3
202.2
9.2
197.0
44.7
152.3
201.0
6.0
197.8
45.2
152.7
197.7
5.6
195.9
45.4
150.5
195.5
4.3
197.6
45.2
152.4
194.3
5.3
199.3
45.6
153.7
193.7
4.2
201.0
46.4
154.7
192.6
5.1
206.0
46.9
159.1
192.4
5.5
207.1
46.1
161.1
191.7
4.7
197.8
45.9
151.9
192.0
7.1
199.7
46.3
153.4
194.9
6.9
204.2
'46.6
157.6
198.3
5.3
200.1
47.2
152.9
200.0
6.4
198.1
44.2
154.0
202.3
198.3
44.5
153.8
201.7
199.0
44.8
154.2
200.8
199.3
45.0
154.4
197.7
199.0
45.3
153.8
194.5
199.0
45.2
153.7
194.1
199.1
45.6
153.6
193.5
199.3
45.9
153.4
193.4
199.6
45.9
153.7
194.1
201.1
46.1
155.0
192.1
199.3
46.4
153.0
192.0
201.5
46.7
154.8
194.3
203.3
'47.0
156.2
197.9
204.0
47.6
156.5
199.6
66.7
140.9
47.2
66.3
39.4
68.2
147.3
47.5
67.1
39.5
68.7
145.5
48.4
68.6
40.1
67.6
136.1
49.4
71.8
40.3
70.1
146.5
49.7
72.9
40.3
72.3
153.5
60.9
73.0
41.9
70.8
148.8
50.6
72.9
41.5
70.5
151.6
49.4
71.7
40.3
69.4
145.7
49.2
69.6
40.8
69.4
139.9
50.6
71.6
41.9
72.4
148.8
52.0
74.2
42.9
'70.7
145.7
' 50.3
'72.2
41.3
72.9
149.7
52.2
75.8
42.6
32,069
2,209
654
33, 248
2,382
621
8,944
580
173
7,994
660
153
8,381
636
157
6,894
573
109
635
889
3,525
5,794
769
1,149
1,186
640
987
3,591
5,884
822
1,414
1,221
229
265
961
1,480
263
371
348
109
243
884
1,442
273
335
244
101
254
860
1 494
179
387
336
65
212
873
1,388
34
381
213
1,320
2,947
2,518
1,326
3,138
2,594
369
930
653
324
760
663
323
751
653
265
648
477
1,025
3,222
4,229
14, 189
945
2,845
4,835
15, 058
272
821
1,230
3,797
228
404
1,272
3,452
171
765
1 314
4 203
165
526
966
3,767
3,002
3,186
707
827
779
65, 562
52, 546
1.670
SECURITIES ISSUED
Securities and Exchange Commission:
Estimated gross proceeds, total ._
By type of security:
Bonds and notes, total
Corporate
Common stock
Preferred stock
. mil. $
do.
do
do
do
5,780
4,608
4,056
3,311
60,979
44,150 4,950 3,914
1,382
17, 383
18, 348
1,917
1,786
684
3,946
7,714
762
694
682
637
10
68
50
' Revised. * Preliminary.
1 Estimated; excludes
U.S.S.R., other Eastern European
2
countries, China Mainland, and North Korea.
Includes silver coin data for Jan.-June
3
1968 not included in figures shown in the 1969 BUSINESS STATISTICS.
Monthly
beginning July and annual total figures exclude silver coin.
< Includes revisions not
Digitized data
for FRASER
distributed to months.
J Revisions for Jan. 1968-Feb. 1969 will be shown later.
5,015
5,420 4,069
3,958
3,315
4,440 '6,144 '6,003 6,799
4,426 2,832
4,770 3,085 3,769 '5,628 '5,535 5,645
3,232
1,889
1,282
1,390
944
1,701
1,860 '2,120 '1,334
2,385
553
630
902
410
652
640
1,064
'456
'417
36
72
83
74
20
32
'60
50
90
§ Or increase in earmarked gold (—).
©Series revised to reflect the change in accounting
procedures associated with Euro-dollar transactions and to reflect new benchmarks and
changes in seasonal factors.
JAt all commercial banks.
OTotal SMSA's include some
cities and counties not designated as SMSA's. ^Includes Boston, Philadelphia. Chicago,
Detroit, San Francisco-Oakland, and Los Angeles-Long Beach.
SURVEY OF CURRENT BUSINESS
S-20
1968
Unless otherwise stated in footnotes below, data
through 1968 and descriptive notes are as shown
in the 1969 edition of BUSINESS STATISTICS
|
1970
1969
1969
Annual
June 1970
May
Apr.
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
r
T
Mar.
Apr.
May
FINANCE—Continued
SECURITIES ISSUED— Continued
Securities and Exchange Commission—Continued
Estimated gross proceeds—Continued
By type of issuer:
Corporate total ?
mil $
Manufacturing
do
Extractive (mining)
do
Public utility
do
Railroad
Communication
Financial and real estate
21 966
6 979
594
5 281
26, 744
6,356
1,721
6,736
2 748
513
115
784
569
229
392
691
163
702
294
21
44
548
g
197
273
41
191
298
1.525
2 076
2 530
2 478
875
86
493
1 427
362
108
507
2,427
1,933
625
106
545
260
49
745
2,375
2,532
453
188
622
601
99
600
2 636
r
811
94
639
1,802
r
357
3,539
1,416
85
540
149
906
50
226
323
77
306
339
3,260
25
286
389
17
126
181
31
272
442
31
120
444
23
201
533
15
277
524
r
234
r
2 537
1,888
1 531
3,487
1,695
1,908
3 508
4 201
413
416
1 314
1 198
1,504
1,314
1,198
1,444
r 1, 504
44
do
do
do
1,766
2 820
2,188
4,409
do
do
do
43 596
18 025
16 374
25, 802
4,765
11,460
3 032
2 533
1 627
1 088
do.
do. _.
16, 374
8,659
11, 460
11, 928
1,627
1,292
1,088
1923
i 7, 445
i 2, 803
975
930
979
921
923
7,515
2,783
7,019
2,577
7, 039
2, 579
7,243
2,753
7,111
2,613
7,445
2,803
890
8,474
3 084
8,214
3,084
933
8,044
3 077
6,683
2,626
6,562
2,463
6,353
2,441
5,970
2,246
76.4
93.4
68.6
79.0
70.1
84.2
70.2
82.3
68.8
78.6
68.2
78.5
68.4
'78.2
67.2
73.6
66.5
74.9
65.6
73.4
62.9
68.7
62.2
69.7
62.4
71.7
62.8
75.6
62.8
71.9
61.2
67.8
72.33
64.49
67.73
66.68
64.84
64.75
65.18
62.64
63.05
61. 08
58.71
58.33
61.63
62.04
60.89
57.78
5, 669. 52 4, 501. 18
5, 458. 55 5, 123. 47
406.63
446 13
422. 50
438 10
370. 32
410.29
330.44
393. 16
315. 76
375. 63
271. 52
338.22
397. 35
466. 10
318. 32
376. 13
382.04
526.97
363. 31
485. 34
283.27
365.56
313. 51
405. 30
310. 25
384. 02
4, 401. 94 3 550. 33
4, 447. 68 4, 123. 33
320 97
360 37
299 98
333. 90
288.21
331. 35
269.23
324. 81
255. 55
304.60
210. 08
269. 61
319. 84
372. 88
261. 94
308. 69
324.20
442. 89
314. 79
411. 57
245. 86
304. 65
267. 94
344. 36
275. 85
337. 06
New York Stock Exchange, exclusive of some
stopped sales, face value, total
mil $ 3, 814. 24 3, 646. 16
325. 13
289, 74
3D0.46
293. 42
245. 99
239. 42
341. 33
263.80
432. 91
304. 63
281. 84
297.74
329. 77
Noncorporate total ?
IT S Government
State and municipal
State and municipal issues (Bond Buyer):
Long-term..
_
.
Short-term..
.
246
412
410
905
421
419
710
1 052
710
1,052
1,072
627
377
794
794
1,140
440
353
531
1,254
531
1,254
1,168
795
300
853
853
1,439
380
812
812
1,230
275
878
r
461
«• 1, 211
964
' 1, 625
' 1, 046 1,365
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 (net)
1
1
mil $
do
do
1 002
9, 790
> 3 717
965
988
978
950
874
806
Bonds
Prices:
Standard & Poor's Corporation:
High grade corporate:
Compositecf
_.dol. per $100 bond-Domestic municipal (15 bonds)
do
U.S. Treasury bonds, taxablel
do
Sales:
Total, excl. U.S. Government bonds (SEC):
All registered exchanges:
Market value.
mil. $
Face value
do
New York Stock Exchange:
Market value
Face value
Yields:
Domestic corporate (Moody 's)__
By rating:
Aaa
_ __
Aa
A
.
Baa
do
do
448. 20
6.51
7.36
7.17
7.10
7.27
7.39
7.37
7.53
7.72
7.76
8.13
8.32
8.29
8.18
8.20
8.46
do
do
. __do
do
6.18
6.38
6.54
6.94
7.03
7.20
7.40
7.81
6.89
7.02
7.21
7.54
6.79
6.96
7.12
7.52
6.98
7.12
7.28
7.70
7.08
7.24
7.40
7.84
6.97
7.23
7.41
7.86
7.14
7.36
7.56
8.05
7.33
7.53
7.79
8.22
7.35
7.58
7.84
8.25
7.72
7.93
8.21
8.65
7.91
8.15
8.35
8.86
7.93
8.13
8.31
8.78
7.84
8.06
8.17
8.63
7.83
8.03
8.22
8.70
8.11
8.24
8.49
8.98
do
do
do
6.41
6.49
6.77
7.25
7.49
7.46
7.07
7.26
7.25
6.99
7.15
7.27
7.16
7.38
7.37
7.29
7.49
7.50
7.29
7.40
7.57
7.42
7.62
7.68
7.59
7.91
7.76
7.61
7.94
7.83
7.95
8.39
8.15
8.15
8.54
8.38
8.11
8.39
7.98
8.34
8.33
8.00
8.37
8.34
8.19
8.72
8.59
do
do
4.47
4.51
5.79
5.81
5.10
5.29
5.60
5.47
5.68
5.83
5.93
5.84
6.26
6.07
6.19
6.35
6.13
6.21
6.58
6.37
6.79
6.91
6.78
6.80
6.16
6.57
6.11
6.14
6.79
6.55
7.12
7.02
__do
5.25
6.10
5.84
5.85
6.06
6.07
6.02
6.32
6.27
6.51
6.81
6.86
6.44
6.39
6.53
6.94
8.53
9.24
4.50
4.55
5.82
8.62
8.98
9.83
4.61
4.60
6.40
9.44
8.93
9.77
4.59
4.62
6.23
9.86
8.95
9.78
4.61
4.63
6.37
9.86
9.03
9.90
4.61
4.66
6.37
9.86
9.03
9.90
4.61
4.66
6.37
9.86
9.03
9.90
4.62
4.67
6.41
9.86
9.04
9.90
4.62
4.67
6.61
9.86
9.05
9.90
4.62
4.67
6.61
10.12
9.06
9.92
4.63
4.67
6.61
10.20
8.99
9.92
4.63
4.10
6.70
10.20
9.13
9.98
4.64
4.02
6.70
10.23
9.13
9.97
4.64
4.02
6.70
10.23
9.13
9.98
4.70
4.02
6.70
10.45
9.10
9.93
4.70
4.02
6.70
10.45
8.96
9.71
4.70
4.02
6.70
10.47
264. 62
315. 86
98.37
101.00
262. 77
313. 15
94.55
93.90
277. 63
330. 61
99.64
102. 33
277. 23
330. 32
99.81
100. 84
264. 58
315. 83
94.53
92.40
249. 38
296. 79
92.47
85.98
259. 67
310. 95
91.13
87 16
252. 76
302. 90
86.29
87.15
263.28
314. 69
92.25
87.36
252. 78
301.65
85.98
80.73
248.68
299.54
84.62
76.96
231. 68
276. 58
80.31
73.87
244.45
290.09
85.35
78.55
243. 53
287. 85
87.44
74.99
222. 65
263.96
80.06
68.32
209. 44
248. 12
74.91
62.07
3.22
2.93
4.57
4.50
3.40
3.10
3.42
3.14
4.88
4.90
3.72
3.37
3.22
2.96
4.61
4.51
3.49
3.27
3.23
2.96
4.62
4.59
3.70
3.18
3.41
3.13
4.88
5.04
3.91
3.62
3.62
3.34
4.99
5.42
4.28
3.99
3.48
3.18
5.07
5.36
3.80
3.87
3.58
3.27
5.35
5.36
4.03
3.61
3.44
3.15
5.01
5.35
3.61
3.19
3.58
3.29
5.38
5.78
3.95
3.28
3.62
3.31
5.47
5.33
3.92
3.65
3.94
3.61
5.78
5.44
4.20
3.84
3.73
3.44
5.44
5.12
3.61
3.58
3.75
3.47
5.38
5.36
3.72
3.66
4.09
3.76
5.87
5.88
4.14
4.29
4.28
3.91
6.27
6.48
4.29
4.67
17.62
6 67
7 9*
17.69
6 92
percent..
By group:
Industrials
Public utilities
Railroads.
Domestic municipal:
Bond Buyer (20 bonds)
Standard & Poor's Corp. (15 bonds)
U.S. Treasury bonds, taxable©
8.47
Stocks
Dividend rates, prices, yields, and earnings, common stocks (Moody's) :
Dividends per share, annual rate, composite
dollars..
Industrials
do
Public utilities
do
Railroads
do
N.Y. banks
do
Property and casualty insurance cos
do
Price per share, end of mo. , composite
Industrials
Public utilities
Railroads...
do
do
do
do
Yields, composite
Industrials
Public utilities
Railroads
N.Y. banks
...
Property and casualty insurance cos
percent-. do
. do
do
do
do
Earnings per share (indust., qtrly. at ann. rate;
pub. util. and RR., for 12 mo. ending each qtr.):
Industrials
dollars
Public utilities
do
Railroads
r
An
18.35
r 7 98
Revised.
1 End of year.
9 Includes data not shown separately.
cfNumber of bonds represented fluctuates; the change in the number does not affect the
continuity of the series.
6 81
7 79.
16.18
6 89
7.84
18.54
6.92
r
15. 30
6.90
r 7. 28
1 Prices are derived from average yields on basis of an assumed 3 percent 20-year bond.
OFor bonds due or callable in 10 years or more.
June 1970
S-21
SURVEY OF CURRENT BUSINESS
Unless otherwise stated in footnotes below, data
through 1968 and descriptive notes are as shown
in the 1969 edition of BUSINESS STATISTICS
1968
Apr.
Annual
1970
1969
1969
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
FINANCE—Continued
SECURITY MARKETS— Continued
Stocks— Continued
Dividend yields, preferred stocks, 10 high-grade
(Standard & Poor's Corp.)
_. percent. .
5.78
6.41
6.14
6.20
6.33
6.42
<-6.45
6.61
6.79
6.84
7.19
7.02
7.04
6.97
6.98
7.26
322. 19
906.00
301. 35
876. 72
123. 07
221. 02
320. 24
927. 38
129. 14
238. 01
325. 88
954.86
130. 83
238. 15
305. 86
896. 61
124. 48
221. 99
286. 41
844. 02
120. 40
202. 88
279. 78
825. 46
115. 76
199. 24
279. 05
826. 71
113. 35
199. 06
280.44
832. 51
115. 12
198. 39
281. 02
841. 09
116.04
195. 47
259. 88
789. 22
108. 36
175. 32
258. 36
782. 96
109.42
173. 64
251. 63
756. 21
108. 87
169. 83
260. 36
777. 62
116. 45
174. 32
255. 71
771. 65
114. 44
167. 46
227. 99
691. 96
103. 19
146.29
" 98. 69
97.84
101. 26
104.62
99.14
94.71
94.18
94.51
95.52
96.21
91.11
90.31
87.16
88.65
85.95
76.06
107. 49
Industrial, total (425 stocks) 9
do
105. 77
Capital goods (116 stocks). _
do
86.33
Consumers' goods (184 stocks) . . _ do.
Public utility (55 stocks)
do.... 66.42
48.84
Railroad (20 stocks)
do
107. 13
103. 75
87.06
62.64
45.95
110. 68
105 54
88.21
65.63
49.53
114. 53
108. 66
91.57
66.91
49.97
108.59
102. 68
88.12
63.29
46.43
103. 68
100. 55
83.04
61.32
43.00
103. 39
100.90
83.44
59.20
42.04
103. 97
102. 27
85.26
57.84
42.03
105. 07
103. 67
87.29
58.80
41.75
105.86
104.68
89.84
59.46
40.63
100.48
100.31
85.62
55.28
36.69
99.40
99.70
85.42
55.72
37.62
95.73
96.55
83.74
55.24
36.58
96.95
95.97
85.09
59.04
37.33
94.01
93.18
82.28
57.19
36.05
83.16
80.47
71.65
51.15
31.10
r 81. 72
45.39
* 87. 73
47.04
93.39
46.69
92.78
43.55
85.81
41.98
82.49
41.87
80.41
44.40
83.47
44.47
85.73
46.00
88.09
43.55
82.57
44.11
79.34
45.64
77.11
47.49
81.37
45.21
79.47
39.65
70.75
Property-liability insurance (16 stocks)_.do
73.64
85.43
86.47
86.04
79.17
74.54
72.83
76.91
88.52
94.19
85.85
83.88
81.25
84.94
82.45
67.40
New York Stock Exchange common stock indexes:
Composite
12/31/65=50
Industrial
___
do
Transportation
do
Utility.. .
do
Finance
do
55.37
58.00
50.58
44.19
65.85
54.67
57.44
46.96
42.80
70.49
56.61
59.41
50.88
44 34
72.38
58.50
61.50
50.46
45.75
75.10
55.20
58.07
47.70
43.39
68.62
52.40
55.00
42.80
42 31
64.56
52.09
54.85
41.45
41 34
65 29
52.37
55.29
42.72
40 20
68 16
53.27
56.22
43.12
40 55
71.71
53.85
56.84
42.59
41 36
71 62
50 86
53.93
37.77
38 69
66.95
50.60
53.58
37.51
38.76
66.19
48.76
51.29
36.06
38.55
65.01
49.46
51.53
36.85
40.77
67.37
47.51
49.47
34.99
39.49
64.07
41.65
43.33
29.85
35.48
54.58
196, 358
5 312
175, 298
4 963
13, 911
379
18, 189
502
14, 860
420
12, 685
359
12, 392
367
12,429
355
17, 152
488
13 352
376
13, 951
430
12, 940
396
11. 850
346
11, 146
340
11,130
341
144, 978
3 299
129,603
3 174
10, 094
239
13, 081
305
10, 847
264
9,561
240
9,405
246
9,357
233
12,831
320
10 000
249
10,609
288
9,412
255
9,104
238
8,815
243
8,718
240
2 932
2 851
237
257
235
228
202
219
310
214
272
221
218
213
223
258
692. 34
13, 196
629.45
15, 082
691. 07
13, 806
693. 14
14, 050
650.50
14,400
611.15
14, 505
641.58
14, 761
627. 50
14, 833
661 44
14, 918
640. 16
14, 986
629. 45
15, 082
582. 67
15, 136
616. 34
15, 227
615. 37
15,306
553. 80
15, 348
516. 39
15, 552
Prices:
Dow- Jones averages (65 stocks) _ _ _
Industrial (30 stocks)
Public utility (15 stocks)
Transportation (20 stocks) —
..
. _
Standard & Poor's Corporation :cf
Industrial, public utility, and railroad:
Combined index (500 stocks)
1941-43=10..
Banks:
New York City (9 stocks)
Outside New York City (16 stocks)
do_._.
do. .
Sales:
Total on all registered exchanges (SEC):
Market value. _ _
_
mil. $
Shares sold
millions
On New York Stock Exchange:
Market value
mil. $
Shares sold (cleared or settled)
millions
New York Stock Exchange:
Exclusive of odd-lot and stopped stock sales
(sales effected)
millions
Shares listed, N.Y. Stock Exchange, end of period:
Market value, all listed shares
bil. $
Number of shares listed
.
millions
130. 02
250. 09
44.69
FOREIGN TRADE OF THE UNITED STATES
FOREIGN TRADE
Value of Exports
Exports (mdse.), incl. reexports, total
Excl. Dept. of Defense shipments
Seasonally adjusted
mil. $.. 34,635.9 37, 988. 3 3,564.1 3,599.6 3,168.3 3,042.9 3,215.6 3, 186. 0 3,618.3 3, 471. 2 3, 421. 2 3, 298. 4 3,432.1 3, 623. 4 3, 648. 5
do
do
34,062.8 37, 314. 4
..
do
do
do
do
1, 269, 4 1, 319. 6
144.7
145.8
7, 581. 9 8, 265. 2
767.9
804.4
1, 026. 0
998.0
90.0
122.7
11,347.3 12, 619. 2 1, 179. 7 1, 237. 3
Northern North America .
Southern North America
South America
_
do
do
do
8, 073. 8
2, 598. 8
2,738.6
9, 138. 0
2, 761. 9
2, 814. 4
794.3
243.9
275.1
do
do
48.4
455.7
67.2
505.5
do_
do
do
do
874.9
717.6
301.9
53.6
do
do
do
By geographic regions:
Africa
Asia
Australia and Oceania
Europe
3,505.1 3,548.1 3,098.2 2,995.2 3,153.8 3, 112. 7 3,562.7 3,415.2 3, 362. 6 3, 238. 0 3,388.2 3, 581. 1 3, 599. 1
3,352.9 3,296.3 3,211.2 3,168.5 3,372.7 3, 325. 9 3,362.0 3, 367. 1 3, 238. 6 3,305.2 3,628.4 3, 379. 0 3, 449. 7
125.5
710.0
67.5
991.4
117.9
130.4
130.3 103.4
131.2
109.4
139.1
123.1
122.9
141.6
738.0 717.3 769.5 768.8 776.7
808.6
750.1
795.5 813.9
691.7
90.9
96.6
96.0
81.7
77.2
78.4
91.2
77.1
110.7
77.2
999.2 1, 110. 7 1, 015. 3 1,210.3 1, 184. 5 1, 159. 3 1, 167. 5 1,196.4 1, 271. 9 1, 272. 0
836.3
247.2
271. 4
788.3
226.7
260.6
655.2
228.7
261.2
661.3
227.3
263.0
801.6
223.6
241.8
879.2
273.9
258.8
806.3
244.1
248.5
756.6
264.6
245.2
649.4
243.8
230.1
740.9
247.1
239.2
783.5
269.9
280.8
840.9
292.3
277.0
8.3
52.7
5.3
43.8
13.9
40.4
7.0
44.0
5.2
51.4
4.2
38.2
7.5
50.8
5.2
40.7
4.6
50.2
13.8
39.9
3.4
35.6
5.4
40.5
13.9
47.2
860.0
517.1
195.2
51.9
107.6
57.5
17.9
6.1
76.8
60.3
13.2
3.9
58.0
69.5
16.2
4.7
67.4
77.8
12.9
3.9
77.4
46.2
13.4
4.1
64.7
31.6
16.5
5.8
93.6
19.6
18.2
4.1
85.5
27.9
31.8
4.3
65.8
47.4
24.9
7.0
69.2
51.2
23.0
4.8
77.6
53.4
19.3
3.8
77.5
58.6
27.4
7.8
65.0
33.5
23.4
4.3
167.1
436.3
2, 954. 3
201.1
374.3
3,489.7
16.8
41.7
300.0
19.6
39.3
293.1
20.6
31.3
264.4
16.7
30.1
274.0
16.3
32.1
329.8
15.1
23.7
304.4
28.4
28.5
352.7
28.3
29.6
335. 3
20.6
29.0
346.5
26.5
25.9
356.7
19.8
24.7
391.3
15.9
32.5
356.7
16.9
35.8
349.3
do
do
do
1,095.0
29.0
1, 708. 9
1, 195. 3
32.4
2,117.9
124.6
2.1
182.2
124.6
2.1
243.5
90.1
1.4
159.8
94.9
3.7
169.1
96.7
.4
169.7
88.0
1.8
224.3
101.9
5.1
207.8
96.3
4.0
193.2
118.5
7.5
191.3
112.4
1.3
209.1
117.3
4.9
204.2
108.2
4.1
241.9
169.5
2.5
199.3
Italy
do
Union of Soviet Socialist Republics., do
United Kingdom
_
do
1, 120. 6
57.7
2,288.7
1,261.7
105.5
2, 335. 3
103.7
8.4
208.8
130.2
10.8
231.5
97.5
7.5
197.7
101.5
5.8
163.6
119.4
14.5
203.4
106.2
9.0
184.1
124.7
13.4
221.6
121.0
5.1
211.7
108.5
11.5
197.2
107.9
9.1
181.6
118.3
7.8
182.7
106.5
11.7
230.7
114.6
5.6
202.8
661.3
801.5 879.1 806.2
655.2
affect continui ty of the series,
9 In sludes daita not simwn separately.
756.6
649.4
740.8
783.5
840.9
By leading countries:
Africa:
United Arab Republic (Egypt)
Republic of South Africa
Asia; Australia and Oceania:
Australia, including New Guinea
India
Pakistan
Malaysia
Indonesia
Philippines
Japan
_
Europe:
France
East Germany
West Germany
_.
_
_ _
North and South America:
Canada
do
8, 072. 3 9, 138. 0
794.3 836.3 788.2
*• Revised.
d*Number of stocks represents number currently used; the change i n numb sr does D ot
SUEVEY OF CURRENT BUSINESS
S-22
Unless otherwise stated in footnotes below, data
through 1968 and descriptive notes are as shown
in the 1969 edition of BUSINESS STATISTICS
1968
1969
June 1970
1969
Annual
Apr.
May
June
July
Aug.
1970
Sept.
Oct.
Nov.
Dec
Jan.
Feb.
Mar.
Apr.
406 1
33.3
47 1
22.6
28.4
120 8
61.2
421.7
33. 6
60 6
25 2
28 4
125 2
55 4
480.5
42.2
61.5
23.9
29.8
141 2
66.1
502.1
41.9
66.9
26.0
43.9
155.2
59.6
FOREIGN TRADE OF THE UNITED STATES—Continued
FOREIGN TRADE— Continued
Value of Exports— Continued
Exports (mdse.), incl. reexports— Continued
By leading countries— Continued
North and South America — Continued
Latin American Republics, total 9
Argentina
Brazil
Chile
.
Colombia __ __
_. _
Mexico
Venezuela
_
Exports of U.S. merchandise, total
Excluding military grant-aid
Agricultural products, total _.
Nonagri cultural products, total
mil. $
do
do
do
do
do
do
do
do
__do
do
By commodity groups and principal commodities:
Food and live animals 9
mil. $
Meats and preparations (incl. poultry) do
Grains and cereal preparations
do
4, 699. 1 4 869 2
281.4
378.3
704.6
672 0
306.7
314 6
319.2
302.8
1, 378. 0 1 449 5
655.0
708 2
34, 199. 0
33, 626. 0
6, 227. 2
27,971.9
3, 889. 6 3, 732. 7
161.6
199.4
2, 463. 1 2 127 2
do
702.5
713 4
Crude materials, inedible, exc. fuels 9
Cotton, raw, excl. linters and waste
Soybeans, exc. canned or prepared
Metal ores, concentrates, and scrap
do
do
do
do
3,540. 7
459.4
810 3
586.2
3, 569. 5
280.2
822 3
711.5
Mineral fuels, lubricants, etc. 9
Coal and related products
Petroleum and products
do
do
do
1 049. 9
523.9
454.4
1,130 7
636.3
433.9
431.3
30.3
66 9
25.2
30.7
117.2
66.5
433.4
32.2
76 0
29.6
22.4
119 0
61.7
431.2
34.4
58 1
37.4
27.1
116 0
65 6
350 4
17 3
204 7
362.8
21.7
214 5
354.8
15.8
209 5
333.0
15.9
211.1
312 9
13.8
181 9
74 1
69 7
53 2
57 5
4
1
0
0
343.1
41.3
63 1
66 9
262 9
23.2
37 0
64 2
301.0
36.1
49.2
71.7
292 4
17.3
33 2
86 3
94 4
49 1
40 3
110 6
64 3
42.3
107 1
62 3
41.3
91 3
56 1
34.0
105 4
55 7
44.0
45 5
384
64
94
61
409
36
55
30
25
114
57
1
2
6
8
6
6
7
464 6
37.1
56 7
25 9
30.6
145 9
64 9
433.8
35.7
60 6
25.2
28.5
135 8
59.8
142 7 3 5743 3 419. 5 3
069.4 3,518 8 3 363.5 3
657.8
646.0
471 5
671 3 2 935 5 2,761 7 2
318 0
16 4
182 8
372 0
23.9
195 0
373.5
18.5
222.8
446
34
53
34
28
137
54
2
3
9
5
7
6
7
370 2 3 255 9 3
311 6 3 195.5 3
515. 3
590 8
779 3 2 740 6 2
334 5
14 9
195 6
324 1
11.5
191 3
80 1
88 7
92 8
31 9
4
2
3
3
392 6
19.1
137 1
71 5
366.8
14.4
137 2
62.7
337 7
20 2
101 9
55 3
346.4
46.0
73 9
68 0
98 4
54 0
39 7
103 6
61 7
37 4
106 7
65.5
36.6
102 0
60 2
37 1
88 3
50.3
32.9
73 6
274
16
35
75
379 6 3 584 5 3, 593. 5
335 7 3, 542. 2 3, 544. 0
553.8
563.1
550 5
829 1 3 021 3 3,039 7
350 5
11 6
209 7
314 1
12.4
183 5
319.7
14.1
179.5
56 7
47 7
2
0
3
0
367 8
29 3
103 8
64 6
396.8
37.0
110 4
72.8
98 6
59 1
37 0
120 5
71 4
43 2
129 5
83.2
39.8
39 9
360
39
84
66
do
274 .4
307 6
31 6
25 3
29 0
27 0
20 5
24 6
27 0
34.7
36 3
31 0
26 6
50 4
31 1
- d o
3,287. 0
3, 382. 5
331 8
334.9
286 1
298.5
310 3
282 6
297.5
289.9
302 3
318.5
320 2
342 3
324.8
do
do
do
do
3,939. 4
522.3
610 5
600.0
4, 554. 7
575.5
972 5
712.0
405
54
78
63
430 1
56.2
81 0
57 8
375 2
47.2
72 5
62 2
374 6
43.9
81 8
62.2
410 9
51 6
85 2
66 3
395
47
84
63
451 9
54 7
110 8
67 6
411.3
54.2
107 4
62.2
431 2
52 2
121 1
72 0
425.6
49.1
106 8
81.3
433 6
50 6
112 1
85 3
447 8
55 2
115 7
81 8
452.0
50.5
127 1
83.2
Animal and vegetable oils, fats, waxes
.
450.6
33.0
62.0
26.9
32.3
120.6
73.2
37 444 3 3 5148 3,555 0 3 1209 3000 5 3 162 7 3
36, 770. 4 3 4558 3,503.4 3050 7 2,952.8 3,100 9 3
5, 936. 3
601.9
583.7
512.3 499.8
438.4
31 508 0 2 914 7 2 966 5 2 610 2 2 503 4 2 735 9 2
Beverages and tobacco
Chemicals
450.7
34.1
67 8
28.1
33.3
117 8
68 7
Manufactured goods 9
Textiles . . .
Iron and steel
Nonferrous base metals
4
3
4
6
9
1
5
6
Machinery and transport equipment, total
mil. $
14,447.4 16, 380. 4 1 572 3 1 563 2 1 325 0 1 244 5 1 320 6 1 334 11 505 3 1,391.4 1 424 6 1, 359. 7 1 430 2 1 537 9 1,564 3
Machinery, total 9
Agricultural _
Metalworking __
Construction, excav. and mining. _ _
Electrical
Transport equipment, total
Motor vehicles and parts
Miscellaneous manufactured articles
Commodities not classified
do
do
do
do
do
do
do
do
do
8 597 2
626.8
333.6
1, 098. 5
2 284 0
5, 850. 1
3, 370. 2
2,144. 2
924.0
do
do
33,226.3 36, 051. 8
Value of Imports
General Imports, total. _ _
Seasonally adjusted
By geographic regions:
Africa _
__
Asia
Australia and Oceania
Europe
do
do
do
do
9 865 4
644.4
343.4
1, 247. 8
2,677 7
6, 515. 0
3, 788. 0
2, 445. 9
1, 226. 8
9,009.3 10, 393. 2
2, 259. 4 2, 518. 4
2 879 3 2,643 1
Latin American Republics, total 9 _
Argentina
Brazil
Chile
Colombia
Mexico
Venezuela
' Revised.
9 Includes data not shown separately.
4, 288. 2
190 2
669 9
205 9
264 0
909 8
949.8
223 4
7K 7
941 8
70 0
32.3
117.5
261 1
621.6
357 3
223 2
87 5
3 330 0 3,236.7
q i7q o 32763
1, 122. 3 1, 045. 1
6 911.4 8 275 9
696.5
828.3
10 337 7 10 335 6 1
Northern North America
___ ._ do _
Southern North America
do
South America
do
By leading countries:
Africa:
United Arab Republic (Egypt)
do
Republic of South Africa
do
Asia; Australia and Oceania:
Australia, including New Guinea
do
India
.
do
Pakistan
do
Malaysia
do
Indonesia __
_
do
Philippines .._ _
do
Japan
_
do
Europe:
France
_
do
East Germany. _
do
West Germany
do
Italy
do
Union of Soviet Socialist Republics
do..__
United Kingdom
do
North and South America:
Canada
do
do
do
do
do
do
do
do
931 2
70 7
28 7
120 6
238* 3
641 6
04 c Q
815 1
59 1
29.1
105.8
215 4
510. 1
317 4
195 7
115 4
805 6
55.3
26.3
116.4
213 5
438.9
235.0
197.3
80.2
847 5
46 7
28 1
106 7
238 3
473.1
245 4
222 6
109 5
808 8
47 3
28 5
102. 4
229 6
525. 3
352 2
209 3
131 7
928 0
55 5
33 6
114 3
257 5
579 1
373 6
224 6
119 7
857.9
50.0
31.7
117.0
227.9
533.4
342.7
201.0
155.4
845 7
45 5
34 4
111 7
213 0
578 9
01 Q K
1Q8 fi
110 2
895 4
54 1
28 1
113 5
240 1
534 8
280 2
206 6
113 2
969 6
63 3
31 4
121 8
246 4
568 3
307 2
229 9
117 0
939 3
57 9
32 6
113.6
247 0
625.0
352 0
212 1
115 4
32142 3 153 6 2 909 3 3 131 7 3 430 4 2 989 1 3 247 4 3 125 5 2 944 3 3 385 9 3 391 4
3 185 5 3 066 2 3 179 9 3*05') 0 3 221 9 3 213 7 q n/y? i 3 249 7 3 255 9 3 213 6 3 247 5
107 3
770 0
80 6
020 6 1
96.1
720 5
62 1
036 4
80
726
66
977
7
1
6
3
90 1
770 1
81 7
991 9
69 4
774 7
106 8
846 4
8?
763
79
87'{
81 5
979 9
96 9
657 2
54 8
861 0
114. Q
71ft 4
79 fi
882 0
235 2
236 6
878.7
231 9
208 9
913.7
218 8
232 6
778 0
206 0
235 4
714 9
184 2
212 6
904 8 1 025 4
217 3
18'! 6
24^1 9
253 7
914 6
198 4
205 8
986 2
4 5
19 8
2.5
24.4
2.5
21.3
3.2
19 4
14
17 9
36
24 3
39
23 1
1.9
18 0
66 1
37.4
24 3
60
24 6
16 8
23 1
410 8
0
4
6
7
93 9
770 q
32.4
255.9
37.8
243.0
495.0
312 1
63 8
240.0
174 3
435 9
4 054 4
595.1
344 1
73 0
307.2
193 6
422 6
4, 888. 3
46
36
6
31
20
54
450
4
8
8
6
4
2
9
43.2
28 9
5 3
26 0
16 1
28 4
437 6
46.9
27 6
61
22 2
14 8
40 0
422 1
60.0
30 7
6 5
22 9
18 0
37 0
467 3
83 9
32 1
75
24 0
Ifi 1
46 3
453 8
54 6
30 2
51
27 8
15 3
30 0
461 8
30 6
478 6
842.3
59
2 721 3
1 101 7
58.4
2 058 3
842.5
80
2 603 4
1 203 8
51.5
2 120 6
86.6
7
263 0
125 8
5.6
192 1
82 6
82 3
g
240 4
113 7
4.9
197 9
85 5
7
261 9
117 3
2.6
201 7
76 8
247 0
124 2
3.1
220 4
217 7
112 7
4.6
169 0
66 1
g
209 5
103 3
4.1
182 7
246 6
105 0
6.7
205 7
67 7
7
223 9
100 4
5.0
181 1
777 6
714 2
904 5 1 024 6
914 5
Q
821.5
45.9
23.4
111.3
221.0
538.1
279.1
206.6
123.9
9 005 2 10 389 9
881 9
878 6
913 7
4, 213. 6
155 6
616 3
151 4
240 4
1 029 3
940.1
387 5
16 8
55 0
13 2
24 4
93 5
74.8
356 3
12 6
41 4
15 9
17 7
94 9
73'. 3
377 0
14 6
63 1
11 8
22 6
94 2
79.8
363 2
15 1
63 9
11 1
21 0
77 6
7e!s
324 6
12 6
51 9
199
16 1
72 0
83.1
348 7
H Q
9fi fl
50
32 3
Ifi 4
72 1
388 4
198
eq K
9ft 8
94 1
fifi 8
1o q
oq q
87 3
82.1
86! 6
60 5
337 1
13 0
63 3
11 2
20 5
87 6
57! 3
105 9
735 1
66 0
888 7
86 9
605 6
62 3
845 4
845 3
241 5
242 5
4 7
50 3
oqo c
f)KA
(•
oq Q
97 fi
&
f>
23 4
ifi fi
4Q Q
402 8
74 6
949 9
90 8
3 2
m
q
106 8
76K 6
78 5
104
752
57
979
845 3
237 8
260 1
960 3
285 6
9^4 4
951 2
274 7
268 1
2.6
24 0
38
19 8
27
28 0
42
33 6
57.6
34 5
84
30 7
16 8
37 3
431 7
47 8
48 4
69 8
g
230 8
91 8
15.2
186 8
OK Q
QCO Q
Qft
K.
fi
K.
69
18 8
OK n
12 9
364 2
97 ft
4ft4 8
17 ^
69 4
73 6
14Q 1
7
248 7
117 2
5.4
194 3
225 3
97* 9
81
43
22
5
22
14
32
474
5
5
4
8
3
2
8
l
1
6
3
75 5
7
281* 3
121 8
35
179 0
QQK Q
845 2
845 2
960 1
951 0
402 8
393 o
14 7
48 2
416 1
62 0
429 6
12 4
43 4
455 4
16 1
51 5
102 8
107! 0
27 9
125 0
89.7
o
n
cq A
Q
14 »
97 7
25 0
104 0
104! 4
8
QQ Q
96.3
199
19 fi
OK a
7
7
9ft Q
24 4
129* 8
98'. 8
May
SURVEY OF CURRENT BUSINESS
June 1970
Unless otherwise stated in footnotes below, data
through 1968 and descriptive notes are as shown
in the 1969 edition of BUSINESS STATISTICS
1968
1970
1969
1969
Annual
S-23
Apr.
May
June
July
Aug.
Sept.
Nov.
Oct.
Dec.
Jan.
Feb.
Mar.
Apr.
May
FOREIGN TRADE OF THE UNITED STATES—Continued
FOREIGN TRADE— Continued
Value of Imports — Continued
General imports— Continued
By commodity groups and principal commodities:
Agricultural products total
mil $
5 053 6 4 954 4 499 0 453 0 441 1 437 8 399 0 394 5 460 9 404 0 488 7 471 7 455 5 512 6 517 7
Nonagricultural products total
do
28 172 7 31, 097. 5 2 835 3 2 783 5 2 775 1 2 716 1 2 510 6 2 737 2 2 969 5 2585 1 2 758 7 2 653 8 2 488 9 2 873 3 2 873 7
Food and live animals 9
Cocoa or cacao beans
Coffee
Meats and preparations
Sugar
Beverages and tobacco
Crude materials inedible exc fuels 9
Metal ores
Paper base stocks
Textile fibers __ ..
Rubber
do
do
do
do
do
do
do
do
do
do
do
Mineral fuels, lubricants, etc
Petroleum and products
Animal and vegetable oils and fats
Chemicals
do
do
do
do
Manufactured goods 9
Iron and steel
Newsprint
Nonferrous metals
Textiles..
do
do
do
do
do
8, 162. 4
2 046 5
862 9
2 022 5
962 4
Machinery and transport equipment
Machinery, total 9 _
Metalworking
Electrical
do
do
do
do
7,986 9
Transport equipment
do
Automobiles and parts
do
Miscellaneous manufactured articles
do
Commodities not classified
do
Indexes
Exports (U.S. mdse., excl. military grant-aid):
Unit value
do...
Quantity
1957-59=100
Value
_
do
General imports:
Unit value _ _ _ _ _ _
do
Quantity
do
Value
_
do
Shipping Weight and Valu?
Waterborne trade:
Exports (incl. reexports):
Shipping weight
thous. sh. tons
Value
mil $
General imports:
Shipping weight
thous. sh. tons
Value
mil $
4, 577. 3
136 0
1 139.7
4, 530. 8
168.2
398.9
430.1
11 2
103.5
88.1
57.3
93 0
320 7
112 8
52 0
16.7
30 4
369.4
27 2
84 2
68 4
78 1
67 2
313 8
104 7
47 8
21 3
25 8
431.6
32 7
92.6
82.9
38 4
68 0
271 4
75 2
41.8
20.5
27 4
411.5
19 8
103 0
83 6
36 1
63 7
244 7
72 3
41 2
21 4
20 2
473.0
16 5
99 9
54.5
34 1
72 7
275 2
90 5
47 4
18.4
26 2
247.4
201 4
185 5
11 7
101 8
292
261
16
99
274.7
250 6
9 6
112 2
279 3
252 4
86
110 8
296.6
270 9
10 2
129 0
223 8
10.1
133.2
620
137
79
122
73
2
7
6
4
2
636 5
152 5
87 5
114 7
80 1
656.2
569
109
71
124
81
696.2
691.4
150.2
78.4
145.1
92.8
9
4
2
1
892 7
389 0
15 8
171 8
862.5
387.4
12 9
151.4
839 9
381 5
18 1
154 0
957 1 1,012.3
453.5
449 3
14.6
17 5
189.0
191*8
503
456
346
127
475 1
420 5
350 3
89.2
458
398
326
89
507
436
380
105
4
4
8
7
2
1
4
7
7
0
2
396 6
14 1
71 6
67 1
58 6
89 1
304 4
90 0
39 8
29 6
22 6
11 9
75 4
70.4
73 0
86 8
293 5
83 0
45 3
25.3
23 1
414.4
18 6
72 0
84.4
78 0
62 8
294 o
93 6
43 8
22.3
19 4
363 7
15 4
62 0
94 4
56 5
54 1
290 8
91 6
40 3
23 8
26 9
368 6
55
75 3
91 0
44 7
67 1
288 8
92 2
42 7
16.8
25 2
2, 526. 7 2, 794. 0
2 343 2 2, 559. 9
136.7
157 9
1 129 1 1, 232. 0
238.8
219.4
198.7
13.6
108.6
212.6
196 3
86
114 5
221.3
202 5
11 0
101 0
227
205
10
99
212 9
10 2
99 7
223 1
13 9
120 4
7, 893. 3
1, 809. 1
784.1
187.3
78.5
159.0
107.0
761.5
726.0
728.7
645 9
160 3
74 5
116 8
93 4
707.5
698.4
179 1
81 3
129 7
86.6
790 7
391.0
15 8
171 0
716
388
16
174
8
2
4
0
845 6
398 7
334 8
409 7
120.0
328 6
274 5
746.5
640 1
786 3
3 345 7
1 007 8
454.8
335.1
191 8
893.9
863.8
638.2
777.8
3 460.3
1, 012. 6
520.8
260.1
279.5
938.6
1, 534. 6
1,019.0
438
10
95
74
66
68
337
81
44
36
23
224.1
11.2
124.9
9, 768. 2
3, 688. 4 4, 489. 0
182.7
203 9
1 492 1 1, 946. 9
869.8
5, 279. 2
4, 623. 8
4, 127. 6
1, 331. 1
464.9
408.4
4 298 5
3 711 6
3 346 1
1,207 8
407.1
18.7
159.1
348.1
109.2
208.6
74.0
138.7
91.5
180 8
83.3
136.5
88.2
895.5
398.9
889.9
19 8
157.8
497.0
429.2
335.6
112.4
401.8
17 0
161.7
488 1
431.8
365.9
117.6
6
0
2
2
392 7
108 3
229.2
176 6
82 6
134 0
87.2
169 7
84 6
129 6
84.5
964 8
394.9
436.7
16 9
179 3
13 0
204 3
873
383
13
179
450 7
400 2
393 4
121.5
528 1
473 2
413 9
127.8
490 6
440 9
349 2
113 6
454.7
1
9
2
7
6
8
7
8
i 112
» 173
i 195
117
182
213
115
202
232
117
181
211
120
196
236
i 104
1 226
1235
108
236
254
106
260
276
107
242
260
111
245
273
121 4
76 7
144.6
99.7
2
4
0
3
7
4
0
8
9
18 7
96 1
93.8
56 0
64 8
273 7
68 6
49 5
22.9
26 0
137
81
146
99
2
2
0
9
8
7
0
4
17.4
96.4
80.6
84.2
71.5
260 5
76.9
43.0
21.4
20.7
244.9
558.8
477.1
371.3
107 5
v 120
v 194
j>234
P 112
J>239
v 267
194, 482 '199, 638
19 922
19 359
17,422
2 000
19, 349
2 032
18,093
1 733
18, 014
1 738
18 475
1 800
17, 310
1 694
19 529
1 995
20 116
1 953
17 845
1 871
16 418 ri7 146
1 828
1 894
17 621
2 008
287, 152
21 542
24, 724
2 075
24, 844
2 029
22, 636
1 976
24, 619
2 044
23 890
1 913
26 020
1 915
28 395
2 052
21 943
1 727
28 666
1 907
24 682
1 926
23 902
1 767
24 301
2 029
282, 751
21 139
488.8
TRANSPORTATION AND COMMUNICATION
TRANSPORTATION
Air Carriers (Scheduled Service)
Certificated industry: *
Passenger-miles (re venue). _ _
bil__
Passenger-load factor §
. .percent
Ton-miles (revenue), total 1
mil__
Operating revenues..
mil. $_.
Passenger revenues
__ _
do
Freight and express revenues
do
Mail revenues
_
__.do
Operating expenses
do
Net income after taxes
do..
Domestic operations:
Passenger-miles (revenue)
bil
Express and freight ton-miles
mil
Mail-ton miles
do
Operating revenues..
__mil. $
Operating expenses. _ _
do
Net income after taxes
do
International and territorial operations:
Passenger-miles (revenue)
bil_.
Express and freight ton-miles
__mil .
Mail-ton miles
do
Operating revenues
mil. $
Operating expenses. __
..
do
Net income after taxes. _
do
113.96
52.6
15, 249
7,763
6,221
585
285
7,238
225
125. 41
50.0
16, 898
10.03
50.3
1,363
10.04
48.0
1,373
11.94
55.5
1,533
2,225
1,817
165
71
2 070
46
12.49
55.3
1,594
13.48
59.8
1,687
10 25
46.7
1 384
2 407
1,968
175
69
2 188
93
9.90
44.4
1 388
9 06
43.1
1 295
10 78
47.9
1 489
10 45
46.1
1 403
8 81
45 3
1 243
87.51
1,775
567
5,692
5,387
89
95.95
1,971
616
7.87
163
52
7.69
177
51
8.98
164
47
1,658
1,541
29
9.08
159
47
9.99
169
48
7.59
172
47
1,722
1,600
34
7.61
185
53
7.11
167
55
8.54
171
71
8.37
153
53
7 05
147
50
26. 45
1,135
701
2,070
1,850
136
29.47
1,384
729
2.16
115
58
2.35
110
60
2.95
105
56
567
528
18
3.41
118
54
3.49
105
56
2.65
111
54
685
588
60
2.29
129
57
1.95
120
73
2 24
114
85
2 08
94
58
1.76
100
64
Local Transit Lines
Fares, average cash rate
cents
23.6
24.3
24.1
24.1
24.1
Passengers carried (revenue)
mil
560
6,491
6,310
513
561
r
Revised.
v Preliminary.
1 Revised to include trade in silver ore and bullion
formerly reported separately; quarterly data do not reflect this change.
<= Corrected.
9 Includes data not shown separately.
§ Passenger-miles as a percent of available seat-miles in revenue service; reflects proportion
of seating capacity actually sold and utilized.
II Applies to passengers, baggage, freight, express, and mail carried.
24.2
489
25.4
24.3
24.3
24 4
24.7
25 2
25 4
25 4
25.4
542
479
520
522
567
500
528
505
470
* New series. Source: Civil Aeronautics Board. Certificated route industry covers scheduled
operations of passenger-cargo (including local service, helicopter, and other carriers) and allcargo carriers. Beginning Jan. 1970, domestic series reflects operations between the 48 States
and Alaska and Hawaii; prior to 1970 this traffic was included in the international and
territorial series.
SURVEY OF CURRENT BUSINESS
S-24
1968
Unless otherwise stated in footnotes below, data
through 1968 and descriptive notes are as shown
in the 1969 edition of BUSINESS STATISTICS
1969
1969
Annual
June 1970
Apr.
May
June
July
Aug.
1970
Sept.
Oct.
Nov.
Dec.
Jan.
Mar.
Feb.
Apr.
May
TRANSPORTATION AND COMMUNICATION—Continued
TRANSPORTATION— Continued
Motor Carriers (Intercity)
Carriers of property, class I (qtrly. total):
Number of reporting carriers
Operating revenues, total _ _
_
mil. $__
Expenses, total
do
Freight carried (revenue)
mil. tons _
1 1, 249
9,523
9,047
523
Freight carried, volume indexes, class I and II
(ATA):
Common and contract carriers of property
(qtrly)
average same period, 1957-59=100. .
Common carriers of general freight, seas. adj.
1957-59=100..
Carriers of passengers, class I (qtrly.): §
Number of reporting carriers
Operating revenues, total
mil. $
Expenses, total
- do__ .
Passengers carried (revenue)
mil
Class I Railroads
Financial operations (qtrly.):
Operating revenues, total 9 .
mil. $
Freight
do
Passenger
do
Operating expenses
do
Tax accruals and rents
_
do
Net railway operating income
do
Net income (after taxes)
do
Traffic:
Ton-miles of freight (net), revenue and nonrevenue (qtrly )
bil
Revenue ton-miles
do
Revenue per ton-mile (qtrly. avg.)
cents ..
Passengers (revenue) carried 1 mile (qtrly.)- .mil. .
Travel
Hotels:
A.verage sale per occupied room..
dollars
Rooms occupied
%of total..
Restaurant sales index.-.same mo. 1951=100..
Foreign travel:
U.S. citizens: Arrivals
thous..
Departures
.
do
Aliens: Arrivals
do
Departures
,
do
Passports issued
do
National parks, visits
_
do
1,301
2,698
2, 562
144
1,315
2,619
2,492
145
--
175
184
165.7
173.3
170
641.1
563.8
184.3
170
676.4
593.6
175.0
71
170.2
145.8
45.0
70
203. 5
162. 1
48.5
70
166.5
151.8
42 4
10, 860
' 9, 755
444
8,582
1,595
683
••565
11, 451
10, 346
439
9,062
1 729
659
461
2,916
2,636
111
2,249
455
212
173
2,836
2, 546
118
2, 274
423
140
98
2,958
2,683
106
2,363
429
166
92
759 1
4744.5
1.310
13, 120
* 781 7
767.9
1.347
12, 169
200.2
196.5
1.341
3,090
192.0
188.8
1 349
3,390
201 7
197.9
1.356
2,838
2367.2
259.0
259.7
11.35
61
117
12.37
59
120
12.80
64
122
12.03
63
138
12.90
61
126
11.59
57
119
13.09
60
118
13.04
(30
122
13.66
68
120
12.75
55
112
11.66
44
118
13.22
52
107
12.98
55
114
12.23
57
122
13.95
61
127
5,021
4,820
3,084
2,613
1,748
42,392
5,911
4 5, 767
3,602
3,039
1,820
42,403
460
427
264
212
229
1,906
455
478
306
251
229
2,976
523
695
304
287
267
6,176
671
772
403
315
194
9,291
868
636
415
354
137
9,518
589
450
394
314
107
4,144
440
371
309
274
94
2,826
395
355
256
222
77
1,602
342
429
245
272
93
1,040
469
402
297
214
125
969
414
423
237
187
153
1,089
496
499
291
244
246
277
15,068
7,578
5,693
9,020
2,553
95.1
16, 781
8,213
6,506
10, 270
2,798
100.3
4 153
2,038
1,607
2 512
700
97.4
4 231
2,062
1,645
2,632
691
98.9
4 375
2,120
1,717
2,722
734
100.3
4,354
2,149
1,860
2,741
732
101.0
358.2
309.5
29.6
391.3
330.8
'32.9
97. 8
82.7
9.7
95.7
84.8
5.9
104 3
85.1
7.7
97 5
82.8
153.4
116.1
30.6
' 179. 9
132.6
39.1
44.7
32.5
10.4
45.7
33.2
10.4
48.3
36 5
47 5
34.9
10.3
4
183
171.9
173.8
173.3
183
177.8
171.5
178. 2
173
178.5
172.1
170.5
170.4
169.5
174.5
2 2, 825
2 2,2 342
423
260
2 -2
2
59.9
2 3 76. 9
267
COMMUNICATION (QTRLY.)
Telephone carriers:
Operating revenues9
mil. $..
Station revenues _
_. _
do
Tolls, message
.do _
Operating expenses (excluding taxes)
do
Net operating income (after taxes) __
do
Phones in service, end of period
..mil
Telegraph carriers:
Domestic:
Operating revenues
mil. $
Operating expenses
._ .do .
Net operating revenues (before taxes).. .do
International:
Operating revenues ..
do
Operating expenses
.do . .
Net operating revenues (before taxes)
do_.
9.4
9.3
CHEMICALS AND ALLIED PRODUCTS
CHEMICALS
Inorganic chemicals, production:
Acetylene
mil. cu. ft.
Ammonia, synthetic anhydrous, thous. sh. tons
Carbon dioxide, liquid, gas, and solid J do
Chlorine, gas (100% C l j ) _ _
do
15, 385
14, 204
12,119.9 12, 713. 5
1, 014. 1 1, 096. 3
8, 444. 5 9, 422. 0
Hydrochloric acid (100% HC1)
do.__ 1, 752. 1
6, 362. 1
Nitric acid (100% HNO 3 )
.
do
Oxygen (high purity). _ t
mil. cu. ft
247, 995
Phosphoric acid (100% PjOs)
thous. sh. tons. 4, 958. 3
Sodium carbonate (soda ash), synthetic (58%
Na20)
thous. sh. tons__ 4, 595. 7
Sodium bichromate and chromate
do .
146.0
Sodium hydroxide (100% NaOH)
do
8 867 7
Sodium silicate, anhydrous
thous. sh. tons
633.5
Sodium sulfate, anhydrous
thous. sh. tons
1, 482. 7
Sulfuricacid (100% H 2 SO<)
do....28, 556. 4
1,187
1,131
1,160
1,083.3 1, 136. 8 1,140.9
91 6
85 1
98 6
807.4
776.5
783.0
1,153
1,092.8
111.1
803 4
1,140
1,007.1
110 4
808 6
1,242
1 203
1 203
1 113
1,037.3 1,097.2 1 060 0 1 129 8
93 5
82 6
99 4
80 8
811 0
786 4
788 2
845 8
1, 848. 6
6, 254. 3
272, 884
4, 915. 5
156.7
541 8
22 808
450.1
159.8
549.5
23,582
447.8
154.0
495 9
21 263
393.0
155.1
464 5
21, 952
345.1
151.0
479 6
23, 123
379.7
150. 2
519 3
22 751
410 7
'4,502.8
149.4
9, 618. 7
653.8
1, 471. 7
28,727.4
370.2
13.3
815 5
62.7
133.0
2,509.7
383.3
12.1
811 5
62.8
124.2
2,559.1
392.5
379.6
12.9
12.0
797 g
803 4
52.5
41.9
116 2
112 6
2,337.5 2, 178. 3
374. 9
12 4
8°4 4
50.5
113 0
2252 5
368.8
410.4
12 2
13 5
840 1
793 8
49 4
60 9
119 7
130 8
2 280 4 2 515 2 2
' Revised.
* Preliminary.
1 Number of carriers filing complete reports for the year.
3
Preliminary estimate by4 Association of American Railroads.
» Data cover 5 weeks;
other months, 4 weeks.
Annual total reflects revisions not distributed to the monthly
or quarterly data.
154.3
540 8
24 022
438 8
145 7
528 4
23 984
408 6
160 8
557 3
23 885
447 1
349 6
11 3
821 2
63 4
119 9
424 7 2
419 8
14 3
858 0
80 3
120 1
708 5
1 228
1 254
948.0 1,032 5
80 1
73 7
787 2
745 4
152.4
r 517 4
22 535
393 9
149 6
506 0
21 807
430 4
350.6
343.6
10 5
11 3
756 0
800 9
44 5
37 4
115 4
117 1
2302 6 2312 6
r
r
l 306 ' 1, 340
l 165.5 1, 095. 9
r
103 8
96 5
r
823.8
822' 5
176 8
551 4
23 713
458 7
r
157.5
557 9
22 566
477.5
370.4
12 7
835 2
r
52 2
ri24 0
r
2 465 3 2
379.1
13 6
842 4
55.6
55 6
536 7
§ Beginning with 1st quarter 1969 reporting period, motor carriers are designated class 1
if they have annual gross operating revenues of $1 million or over (1968 data have been restated
on the new basis).
9 Includes data not; shown separately.
t Revisions for 1967 available upon request.
SURVEY OF CURRENT BUSINESS
June 1970
Unless otherwise stated in footnotes below, data
through 1968 and descriptive notes are as shown
in the 1969 edition of BUSINESS STATISTICS
1968
S-25
1969
1969
Annual
Apr.
June
May
July
Aug.
1970
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
CHEMICALS AND ALLIED PRODUCTS—Continued
CHEMICALS— Continued
Organic chemicals, production:^
Acetic anhydride
Acetvlsalicylic acid (aspirin)
Creosote oil
Ethyl acetate (85%)
Formaldehyde (37% HCHO)
Glycerin, refined, all grades:
Production
Stocks end of period
Methanol synthetic
Phthalic anhydride
mil. Ib
do
niil gal
11,651.6 i 1,748. 0
31.2
37.5
1
1119.1
106. 0
147.9
3.5
10.3
147.9
3.6
9.6
143.5
3.6
9.9
140.9
3.2
10.2
144.4
3.0
9.0
129.5
1.7
9.3
134.5
2.9
11.0
129.5
2.7
10.0
152.1
3.5
143.0
3.4
6.5
mil Ib
do
i 162. 0 i 153. 2
i 4, 099. 6 i 4,192. 8
11.0
349.9
13.3
371.3
15.8
355.7
12.7
320.4
11.4
348.7
7.1
357.8
16.7
381.7
10.4
355.0
13.1
358.7
12.7
324.8
136.2
3.0
8.8
14.5
' 321. 1
2.9
10.0
3.0
8.3
!3.6
382. 6
23.5
373.7
'27.9
'23.8
54.3
63 2
29.0
26.9
59.7
58.8
r
r
do
do
mil. gal
mil Ib
347.0
29.5
580.2
i 748. 3
344.1
30.5
i 624. 8
774.0
29.4
31.9
51.3
70.6
22.2
29.0
51.2
69.8
28.2
26.9
51.3
72.7
28.9
28.8
51.2
65.8
26.5
32.4
51.7
58.6
31.0
31.9
54.1
58.2
30.3
30.5
56.6
61.1
31.4
30.5
52.5
64.3
29.0
30.5
56.4
72.1
24.5
27.5
52.5
56.4
26.5
26.5
53.3
61.8
mil tax gal
do
do
do
708. 1
189.2
564.4
81. 4
738.3
179.7
592.7
56.4
188.5
46.9
59 3
183.8
51.2
58.1
181.6
50.2
61.9
177.0
51.4
62.8
178.2
52.4
62.2
181.4
42.9
76.3
176.3
52.7
50.8
177.2
33.7
53.2
179.7
43.8
42.2
164.4
40.2
48.5
166.9
40.7
59 8
177 1
46.6
8. 0
mil wine gal
do
do
303.5
305.6
2.7
' 318. 5
318.7
2.4
25.3
26.0
3.9
27.5
27.8
35
26.7
28.2
2.1
27.6
27.3
24
28.1
27.9
2.7
23.2
23.3
2 6
28.3
28.2
2.7
18.0
18.1
26
23.7
23.7
2.4
21.6
21.4
2.6
21.6
21.7
2.5
24 9
25 1
24
thous. sh. tons
do
do
_
_. do. _
18, 956
2 607
13, 584
1,303
16, 599
1,799
12, 229
1,233
1,718
162
1,334
109
1,674
261
1 179
95
1,750
141
1,389
125
1,586
210
1,091
81
1,580
368
914
141
1,302
125
959
93
1,421
108
1,110
106
1,004
107
704
93
1,319
93
1,039
122
1,278
57
1,079
78
1,253
61
977
87
1,088
106
840
51
1,230
49
951
105
..do. .
do
.-do
do
227
131
3,557
205
233
138
3,829
184
45
30
433
19
29
8
396
22
13
7
176
11
12
5
156
38
9
2
235
15
16
5
328
14
13
14
491
18
15
16
364
6
19
9
393
19
25
16
336
16
22
17
377
9
46
30
514
1
59
37
579
1
Potash deliveries (KjO)
. . . __ do _
Superphosphate and other phosphatic fertilizers
(100%P205):
Production
thous sh tons
Stocks, end of period
do
4,170
4,803
579
540
195
108
214
325
507
453
634
331
401
631
4 149
535
4,290
448
395
369
398
358
339
411
277
406
316
460
354
440
379
427
347
429
393
448
336
468
356
422
r
393
T
Explosives (industrial), shipments, quarterly, including black blasting powder
mil. Ib
1, 582. 2
1, 925. 0
Paints, varnish, and lacquer, factory shipments:
Total shipments
.
mil. $
Trade products
do
Industrial
finishes
_
do
2,586.8
1, 427. 5
1,159.3
2, 776. 7
1, 473. 5
1, 303. 5
245.2
131.9
113.3
256.8
143 6
113 3
278.0
163.0
115.1
254.3
145 2
109 1
261.7
149.3
112.4
253 4
133 7
119 7
234.4
119. 1
115.3
186.2
91 6
94 6
179.9
85.0
95.0
179.0
85 9
93.1
197 6
102 8
94 8
241.6
130 4
111 2
Sulfur, native (Frasch) and recovered:
Production _
_
_. thous. Ig. tons
Stocks (producers'), end of period..
do
i 8, 817
2,790
8,564
3,461
710
3,150
723
3,134
715
3,213
681
3,221
655
3,278
694
3 294
715
3,306
755
3,401
746
3,461
730
3,530
660
3 604
721
3 657
...mil. Ib
i 624. 7
do
i 576. 4
_ do
11,038.4
do... 1741.4
i 628. 8
i 667. 4
1, 123. 8
i 770. 5
55.8
59 4
96.2
66.9
57.9
62 5
97.8
65.7
55.3
50.8
95.9
66.4
53.9
51 1
81 3
55.5
51.9
51 5
91 2
61.9
51.8
54 7
97 4
64.0
61.6
58 7
106 7
69.9
43.1
54 4
91 0
65.1
43.8
55 6
87 9
55.7
44.3
49 4
85 2
54 8
45
49
90
52
47
58
93
53
r
ALCOHOL
Ethyl alcohol and spirits:
Production
Stocks end of period
Used for den aturation
Taxable withdrawals
Denatured alcohol:
Production
Consumption (withdrawals)
Stocks end of period
FERTILIZERS
Exports total 9
Nitrogenous materials
Phosphate materials
Potash materials
Imports:
Ammonium nitrate
Ammonium snlfate
Potassium chloride
Sodium nitrate
_
_
_ _
359
404
276
MISCELLANEOUS PRODUCTS
492.3
390.9
512.5
496.6
PLASTICS AND RESIN MATERIALS
Production:
Therm osetting resins:
Alkyd resins
Polyester resins
Phenolic and other tar acid resins
Urea and melamine resins
Thermoplastic resins:
Cellulose plastic materials
do... 1 186. 2
Coumarone-indene and petroleum polymer
resins
mil. Ib
i 332. 6
Styrene-type materials (polystyrene)
do
12,719.3
Vinyl resins (resin content basis)
. do
1 2,944.8
Polyethylene- _
do... 14,539.1
5
7
5
8
1 192. 6
16.5
16.3
14.8
13.0
15.0
15.6
14 8
15.5
14.0
11 0
12 0
i 332. 6
3, 251. 6
13,638.8
5, 440. 7
27 9
272.2
270.4
437. 1
29 6
285.9
287.4
441.9
31.2
281.9
284.1
435.8
25 9
260.8
262.3
450. 1
28 5
263.9
269.5
474. 1
26 6
272.4
285.4
480 3
32 0
279.0
323 6
492 3
29 4
276.9
311 5
486 6
26 5
280.2
311.5
497 7
22 9
275.5
284 9
448 4
27 7
255 1
283 2
441 8
7
2
0
8
13 3
25
269
316
472
\
2
7
2
ELECTRIC POWER AND GAS
ELECTRIC POWER
Production (utility and industrial), total*
mil. kw.-hr. 1,436,029 1,552,299 117,115 123, 232 129, 765 143, 951
Electric utilities, total
do
1,329,443 1,441,939 107, 974 113 880 120, 455 134, 789
By fuels
_.
do
1 106 952 1 191 861 85 863 90 845 99 497 113 766
By waterpower
do
222, 491 250,078 22,111 23, 035 20, 957 21, 023
Privately and municipally owned util
do
1,083,117 1,171,693 87, 372 91,836 97, 935 109, 560
Other producers (publicly owned).. _
do
246, 326 270,247 20, 602 22, 044 22, 519 25, 229
Industrial establishments, total
do
106, 586 110,360
9,141
9, 352 9,310
9,162
By fuels
do
103, 203 107,076
8 842
9 044 9 020 8 896
By waterpower
do
3 283
300
3 383
266
308
289
r
1
Revised.
Revised annual total; revisions are not distributed to the monthly data.
cf Data are reported on the basis of 100 percent content of the specified material unless
142, 630 128, 515 129, 414 125, 601 136, 786 141, 110 124, 678 132, 333
133 319 119 469 119 980 116 465 127 357 131 732 116 010 123 051
112 485 101 164 101 040 96 941 106 027 i no A*? A 95 973 100 978
20, 834 18,304 18', 940 19, 524 21,330 22, 258 20, 037 22, 073
108, 870
24, 449
97, 968
21,501
98, 711
21, 269
9,311
9 050
261
9,046
8 813
233
9,434
9 184
250
94, 736 103, 589 107,213
21, 729 23, 768 24, 519
94, 335
21, 675
99, 877
23 174
9,429
9 144
285
8,668
8 367
301
9,283
8 978
305
9,137
8 869
267
9,378
9 070
Q07
otherwise indicated.
9 Includes data not shown separately.
J Revised data for the months of 1968 will be shown later.
236 3
131 7
104 6
May
SURVEY OF CURRENT BUSINESS
S-26
1969
1968
Unless otherwise stated in footnotes below, data
through 1968 and descriptive notes are as shown
in the 1969 edition of BUSINESS STATISTICS
1969
Apr.
Annual
June 1970
May
June
July
Aug.
1970
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
ELECTRIC POWER AND GAS—Continued
ELECTRIC POWER— Continued
Sales to ultimate customers, total (EEI) mil.kw.-hr. 1,202,321 1,307,178 102, 255 100, 883 105, 615 113, 510 118, 124 117, 375 110, 128 106, 862 111, 506 116, 941 113, 452 111,774
Commercial and industrial:
1265,151 286, 686 21, 502 22, 016 24, 145 26, 473 27, 370 27,, 282 24, 619 23, 232 23, 651 24,464 23, 982 23,609
Small light and power§
do
Large light and power §
do __ 1 518,834 557, 221 45, 344 46, 251 47, 157 46,547 48, 022 48,, 257 48, 418 47, 080 47, 190 46,096 45,583 47,041
Railways and railroads
Residential or domestic
Street and highway lighting
Other public authorities
Interdepartmental
_
-
do
.do
do
do
do
U,540
1367,692
1 10, 302
1 32, 162
1 3, 640
4,531
407, 922
10, 772
35, 861
4,186
366
31, 057
850
2,823
313
360
28, 231
816
2,859
350
328
29,859
794
2,976
356
348
35, 934
809
3,016
384
348
38, 103
821
3,073
385
341
37, 149
878
3,078
391
365
32,335
948
3,075
369
379
31, 823
988
3,007
352
443
35, 759
1,044
3,063
357
453
41,404
1,032
3,122
369
403
39,068
964
3,087
365
415
36,307
938
3,079
386
Revenue from sales to ultimate customers (Edison
Electric Institute)
mil $ 18, 579. 9 20, 139. 3 1, 566. 7 1, 554. 1 1,632.3 1, 762. 3 1, 830. 9 1,825.1 1, 705. 8 1, 653. 8 1, 715. 1 1, 798. 8 1, 757. 5 1, 721. 0
GAS
Manufactured and mixed gas:
Customers end of period total?
Residential
579
543
36
575
538
36
576
539
35
567
531
35
575
538
36
mil. therms..
do
1,466
825
617
1,519
825
667
325
171
147
179
64
114
408
216
184
Revenue from sales to consumers, total 9-.mil. $__
Residential
do
129.0
81.4
45.9
130.6
80.3
48.1
28 6
17 4
10.7
16.1
7.9
8.0
34.6
20.9
13 1
39, 950
36, 672
3,231
40, 769
37, 413
3,307
39, 846
36, 622
3,178
39, 876
36,681
3,148
40, 769
37, 413
3,307
143, 521 154,430
44,129
44,701
91,519
92, 594
35, 251
9,534
24, 465
29, 483
4,067
23,948
39, 339
11, 905
25, 936
Revenue from sales to consumers, total 9 ..mil. $.. 8,644. 9 9, 406. 6
4, 476. 8 4,800.1
Residential
do
Industrial and commercial
do
3, 946. 4 4,389.6
2, 072. 9
1, 014. 0
1, 013. 8
1, 481. 4
542. 0
891.4
2 453 2
1, 241. 5
1, 152. 9
Sales to consumers, total 9
Residential
thous
do
Natural gas:
Customers, end of period, total 9
Residential
Industrial and commercial
Sales to consumers total 9
Residential
Industrial and commercial
thous..
do
do
mil therms
do
do
FOOD AND KINDRED PRODUCTS; TOBACCO
ALCOHOLIC BEVERAGES
Beer:
127. 32
Production
_
mil. bbl
122. 41
Taxable withdrawals
do _ '111.42
116. 27
11.90
Stocks, end of period
do
11.56
Distilled spirits (total) :
Production
mil. tax gal_. 238.33
229.36
Consumption, apparent, for beverage purposes
mil. wine gaL. 1344.07 i 361. 67
Taxable withdrawals
mil. tax gal_. 147. 62 ••164.55
Stocks, end of period
do
956. 44
991. 42
Imports
mil. proof gal
75.45
87.08
Whisky:
Production
_
mil. tax gal__ 178. 05
169. 87
Taxable withdrawals
do
r 95. 28 ' 108. 01
Stocks, end of period
do
904. 35
938.46
Imports
mil. proof gal__
66.50
74.29
11.43
10.06
13.37
11.28
10.25
13.36
21.66
do
' 373. 08 ' 403. 32
13.09
11.96
13.55
11.98
11.44
13.12
11.61
10.80
13.05
10.81
10.14
12.81
8.54
8.28
12.38
9.62
9.24
11.90
9.56
8.47
12.43
9.31
8.04
12.99
11.84
10.35
13.46
20.55
20.28
21.26
12.44
10.66
14.12
18.84
17.79
15.17
12.01
17.70
22.75
19.84
20.87
30.80
28.79
' 13. 33 12.93
'
981.90
978. 71
6.48
6.67
30.46
14.51
984. 51
6.94
29.59
14.31
983. 82
6.83
28.41
13.90
979. 91
5.81
27.79
15.19
979. 24
6.73
33.03
17.82
981. 02
11.47
33.66
14.17
983.86
9.03
42.64
12.19
991. 42
10.84
25. 71
30.98
25.07
12.40
11.32
16.10
998. 08 1, 002. 98 1,005.66
5.46
5.66
7.55
7.03
14.37
17.25
7.86
'8.83
927. 80 ' 932.28
5.51
5.75
12.07
9.05
933. 75
6.03
10.65
9.02
934. 02
6.02
7.71
8.38
931. 47
5.10
12.22
10.14
930. 50
5.89
16.03
12.80
930. 93
10.29
14.00
9.80
932. 35
7.97
15.36
8.06
938. 46
7.30
15.30
8.10
944.66
4.67
14.96
8.27
949. 15
4.83
15.69
10.64
951.64
6.66
6.22
11.00
6.57
10.38
6.52
9.09
5.27
10.04
5.87
11.90
7.10
8.99
5.15
8.17
4.27
8.11
4.22
8.44
4.86
11.07
6.58
1.25
1.12
6.56
.24
.96
.73
6.70
.17
1.40
1.19
6.77
.14
1.16
1.30
6.65
.15
1.70
1.83
6.40
.31
1.67
1.55
6.45
.29
1.97
2.04
6.19
.27
1.81
1.81
6.48
.11
1.71
1.27
6.82
.10
2.06
1.64
7.15
.12
2.02
1.27
7.80
.15
2.49
16.03
180. 78
2.31
1.99
12.86
169. 98
2.01
8.03
16.88
158.76
1.71
57.81
16.46
193. 87
1.75
126. 45
19.31
293. 13
2.33
55.85
16.01
326.97
2.50
9.49
17.90
306.36
2.65
4.08
18.44
290.91
1.76
3.87
16.36
274. 56
1.65
4.60
20.64
256. 07
2.23
2.98
16.76
240. 99
2.24
6.34
2.85
Rectified spirits and wines, production, total
9.95
mil. proof gal. . ' 110. 56 f 116. 55
'9.72
Whisky
do
5.49
66.71
68.02
5.60
Wines and distilling materials:
Effervescent wines:
1.04
Production
_
mil. wine gal
12.17
15.80
1.17
.87
Taxable withdrawals
_ _ _ _
do
10.29
13.70
.77
6.51
Stocks, end of period
do
'5.26
6.51
6.19
Imports
_ _
_ _
do
.18
.22
2.41
2.23
Still wines:
Production
do
2.48
222. 89 ' 277. 81 '2.88
Taxable withdrawals
do
15.59
' 181. 52 197. 23
15.89
Stocks, end of period.. .
do
268. 28
306.36 ' 211.72 ' 197.06
Imports.
do
1.91
2.34
19.98
22.28
Distilling materials produced at wineries
10.17
9.15
13.57
2.16
3.00
2.13
2.74
19.67
118. 03
161. 97
52.16
25.52
7.62
6.55
93.8
81.3
.687
DAIRY PRODUCTS
Butter, creamery:
Production (factory)
Stocks, cold storage, end of period
Price, wholesale, 92-score (N.Y.).
Cheese:
Production (factory), total.
American, whole milk
mil. lb._ 1,164.8
do.
117.4
$ per Ib
.678
1, 120. 2
88.6
'.685
109.6
134.5
.683
116.1
162.6
.684
111.1
195.3
.684
93.5
198.0
.686
77.2
185.6
.688
67.6
155.3
.704
75.9
125.2
.693
72.2
104.3
.687
90.1
88.6
.696
101.5
77.4
.686
mil. lb._ 1, 943. 9
do
1, 276. 3
2, 002. 8
1,287.3
174.2
113.2
197.6
135.6
201.8
140.6
181.0
124.1
170.0
111.8
156.4
98.4
155.8
94.8
149.3
88.2
166.2
101.3
167.4
107.2
160.8 '186.4
120.7
103.6
317.5
265.4
130.0
316.1
259.9
12.9
337.5
280.7
13.2
366.1
307.0
12.0
387.1
326.4
10.0
386.2
325.9
9.6
369.5
309.0
12.5
350.9
294.6
14.3
328.7
274.8
3.9
317.5
265.4
20.8
298.0
249.6
10.9
285.7
238.0
10.8
286.2
238.9
16.0
' 308. 9
'257.7
11.5
335.9
280.6
.606
.606
.608
.621
.630
.636
.647
.659
.663
.646
.632
Stocks, cold storage, end of period
_
do
American, whole milk
do
Imports
_
do
Price, wholesale, American, single daisies (Chicago)
$ per lb__
' Revised.
quarterly data.
381.0
318.7
168.2
.594
.603
.603
.548
.595
1 Annual total reflects revisions not dist ributed to the ]nonthly or
111.2
106.5
91.6 ' 114. 3
.707
.688
148.5
.708
195.2
129.7
§Dat a are not wholly c omparal )le on a y ear to ye ar basis 1because c>f change s from orle classificatio n to anol.her.
9 Includ es data r ot showri separat ely.
SDEVEY OF CURRENT BUSINESS
June 19TO
1968
Unless otherwise stated in footnotes below, data
through 1968 and descriptive notes are as shown
in the 1969 edition of BUSINESS STATISTICS
1969
1969
Apr.
Annual
S-27
May
June
July
1970
Sept.
Aug.
Oct.
Nov.
Dec.
Jan.
Feb.
Apr.
Mar.
May
FOOD AND KINDRED PRODUCTS; TOBACCO—Continued
DAIRY PRODUCTS— Continued
Condensed and evaporated milk:
Production, case goods:
7.8
9.2
87.4
80.1
Condensed (sweetened)
mil. lb_
135.7
157.5
1,360.0 1,405.5
Evaporated (unsweetened)
do
Stocks, manufacturers', case goods, end of period:
4.7
2.9
2.1
1.9
Condensed (sweetened)
mil. Ib
105.0
124.4
83.5
99.1
Evaporated (unsweetened) _ _
-do
Exports:
52.1
4.5
42.4
7.4
Condensed (sweetened)
- do
2.2
37.1
33.7
2.9
Evaporated (unsweetened),
do
Price, manufacturers' average selling:
7.50
7.50
7.50
7.26
Evaporated (unsweetened)
-- $ per case..
Fluid milk:
Production on farms
mil. Ib 117, 234 116, 200 10, 265 11, 034
Utilization in mfd. dairy products. _ __ _ _ d o ' 58, 163 ' 57, 666 ' 5, 333 ' 5, 934
5.46
5.23
5.24
5.15
Price wholesale U S average
$ per 100 Ib
Dry milk:
Production:
94.2
10.9
4.6
74.8
Dry whole milk
mil. Ib
146.2
176.2
Nonfat dry milk (human food) __
do _ 1,604.4 1,450.8
Stocks, manufacturers', end of period:
6.6
4.9
6.9
7.6
Dry whole milk
do
83.9
112.1
79.0
78.6
Nonfat dry milk (human food) _
_ do _
Exports:
15.6
2.3
18.6
1.6
Dry whole milk
do
111.6
19.4
5.2
151.0
Nonfat dry milk" (human food) __ _ __do_ _ _
Price, manufacturers' average selling, nonfat dry
.235
.234
.224
.235
milk (human food)__
$ per lb_.
6.1
147.5
6.2
139.7
6.8
136.0
8.4
103.0
8.9
94.8
7.0
82.2
53
107 0
28
97 0
6
94 0
3.9
151.6
2,9
188.9
3.9
211.2
3.0
194.6
3.0
147.7
2.2
113.6
19
105.0
57
90 9
6
85 1
6.1
2.4
4.5
4.2
4.0
2.0
8.2
2.8
6.9
4.2
4.4
3.4
6
24
m
23
(i\
32
1
2 3
7.51
7.51
7.51
7.51
7.53
7.59
7 62
7 75
7 76
7 77
7 85
10, 759 10,142
9,673 9,165
' 5, 960 ' 5, 416 ' 4, 844 r 4, 174
5.37
5.08
5.22
5.66
9,138
4, 104
5 82
9 412
4* 685
5 81
8 840 10 053
4 558 r 5 300
5 69
5 55
10 330
5 582
r 5 51
r
T
8,691
9 170
3, 702 r 4 343
5 89
5 87
(6)
(6)
(8)
6
(6)
106 8
6
113 2
(6)
6
(6)
88 4
6
79 6
(i)
4 4
8.4
178.5
6.4
141.2
5.0
111.1
4.8
83.0
55
79 0
53
74 3
58
99 2
61
102 5
55
106 8
63
132 2
62
148 4
8.1
141.0
9.4
154.4
8.2
150.9
7.1
130.5
6 7
108 0
57
90 2
58
81 1
5 C
81 8
47
80 6
51
101 4
1.6
13.2
1.3
9.7
1.4
5.0
1.3
6,4
12
88
5
10 4
66
83 9
7
74
O Q
14
14 2
10
10 7
.235
.234
.234
.236
236
237
237
238
236
237
262
107.6
92.2
99.5
90.3
102.2
103 6
123 6
100 8
97 6
107 1
93 9
100 7
.3
.1
497.4
306.6
190. 8
.4
.7
.3
.2
.1
.2
134. 3
.1
.1
1.09
1 09
1.00
1.00
1.06
1.06
1.08
1.08
1.08
1.07
1.08
1.07
1.06
1.06
1.06
1.06
1.07
1.07
1.10
1.09
51.3
3 1 113
3*728
3
385
54.8
64 5
55 3
79 6
4 313
3 320
993
48.6
40.2
50.3
2 989
2 222
768
44.3
40.0
1.27
1.22
1.28
1.22
1.16
1.17
1.15
1.12
1.15
1.12
1.22
1.19
1.23
1.22
1.22
1.21
1.26
1.25
1 5
25 7
OQ O
11 019
5 43
GRAIN AND GRAIN PRODUCTS
Exports (barley, corn, oats rye, wheat), ..mil. bu._ 1, 267. 4
Barley:
Production (crop estimate)
Stocks (domestic), end of period
On farms
Off farms
Exports, including malt§
Prices, wholesale (Minneapolis):
No. 2, malting
No. 3, straight
Corn:
Production (crop estimate grain only)
do
do
do
do
do
mil bu
Oats:
Production (crop estimate)
Stocks (domestic) end of period total
On farms
Off farms
mil bu
do
do
do
Exports including oatmeal
do
Price, wholesale, No. 2, white (Chicago)
$ per bu._
Rice:
Production (crop estimate)
mil bags 9
California mills:
Receipts domestic rough
mil Ib
Shipments from mills milled rice
do
Stocks, rough and cleaned (cleaned basis), end
of period
mil Ib
2 417. 2
420.1
258.0
17.8
8.3
2.4
1.7
3 197. 5
3 3114. 9
84.6
1.3
1.18
1.18
1.12
1.12
1.16
1.17
1.19
1.19
1.13
1 14
2
4 393
2 4 578
4 233
3 276
'957
594 0
4 313
3 320
993
553.5
38.6
47 9
2,068
1,487
581
43.6
1.11
1.11
1.21
1.19
1.20
1.21
1.30
1.28
1.30
1.28
•
2 939
784
661
123
2 950
884
723
161
11 6
4
Rye:
Production (crop estimate)
mil bu
Stocks (domestic) , end of period
do
Price, wholesale, No. 2 (Minneapolis) __$ per bu..
Wheat:
Production (crop estimate) total
Spring wheat.
Winter wheat
Distribution
mil bu
do
do
do
76
3375
3275
1fi9 1
1 023
830
194
3100
7
7
.9
12
.4
.5
.69
.69
.64
.63
.61
.62
7
4
4
3
10
5
2 91 3
2 020
1 376
2,012
1 515
225
235
118
151
67
79
96
88
67
43
209
87
336
59
36
44
79
47
63
60
87
67
78
63
127
39
312
270
197
125
93
71
73
127
284
266
270
250
241
228
280
7 086
4 774
6 136
4 818
313
423
283
552
200
544
205
464
347
333
1 636
438
1,687
538
602
450
424
461
326
406
280
374
330
373
269
423
2 013
4,163
087
1 695
4,183
085
1,509
492
085
1,178
408
085
858
629
085
476
372
.084
681
291
084
1 410
254
085
1,894
375
.086
1,862
349
.086
1,695
362
.086
1,508
235
.085
1,322
337
1,176
306
931
188
2 23 4
24 3
1.14
231 4
29 9
1.17
1.23
1.24
316.0
1.22
1.17
1.06
38 3
1.07
1.12
1.13
29.9
1.14
1.15
1.16
24.5
1.18
1.18
2 1 576
2 342
2
1 235
r i 444
2 1 459
2
311
2 1 148
r i 275
407
.71
r
340
1.30
1.29
.9
.67
2 104 1
294
1.15
1.15
672
529
143
884
723
161
.72
Stocks (domestic), end of period, total
do
3819
1 346
1 531
On farms
do
581
608
3328
Off farms
do
764
3491
923
r
3
Revised.
i Less than 50 thousand pounds.
2 Crop estimate for the year.
Old
crop only; new crop not reported until beginning of new crop year (July for barley,
oats, rye,
5
and wheat; Oct. for corn).
* Average for 11 months; no price for Nov.
Average for
1.19
1.15
327.1
192.8
420.1
258.0
«.67
Southern States mills (Ark., La., Tenn., Tex.):
Shipments from mills, milled rice
do
Stocks, domestic, rough and cleaned (cleaned
basis), end of period
mil Ib
Exports
_
do
Price, wholesale Nato No 2 (N O )
$ per Ib
95.6
2 423. 0
371.6
247.7
$ per bu-_
do __
Stocks (domestic) end of period total mil bu
On farms
do
Off farms
do
Exports including meal and
flour
do
Prices, wholesale:
No. 3, yellow (Chicago)
_
$ per bu
Weighted avg., 5 markets, all grades
do_ __
1,059. 0
.68
1.20
338
1,194
1,531
1 870
454
608
752
740
1,119
923
Jan.-Sept.
« Condensed milk reported with evaporated to avoid disclosing operations of
individual firms.
§ Excludes pearl barley.
9 Bags of 100 Ibs.
June 1970
SURVEY OF CURRENT BUSINESS
S-28
Unless otherwise stated in footnotes below, data
through 1968 and descriptive notes are as shown
in the 1969 edition of BUSINESS STATISTICS
1968
Apr.
Annual
1970
1969
1969
May
June
July
Aug.
Sept.
Jan.
Dec.
Nov.
Oct.
Mar.
Feb.
May
Apr.
FOOD AND KINDRED PRODUCTS; TOBACCO— Continued
GRAIN AND GRAIN PRODUCTS— Con.
Wheat— Continued
Exports total including
W"heat only
flour
mil. bu
do
Prices, wholesale:
No. 1, dark northern spring (Minneapolis)
$ per bu__
No. 2, hd. and dk. hd. winter (Kans. City). do
Weighted avg., 6 markets, all grades.
do
642.1
587.8
488.8
439.9
53.3
48.8
56.9
51.2
46.6
39.5
47.4
41.8
34.5
32.4
36.5
32.9
46.9
40.5
43.2
38.4
51.6
48.1
56.9
51.7
55.6
51.4
49.0
44.6
59.7
54.4
1.79
1.52
1.77
1.80
1.48
1.75
1.77
1.53
1.78
1.78
1.48
1.76
1.77
1.45
1.70
1.81
1.34
1.65
1.73
1.44
1.66
1.79
1.48
1.72
1.82
1.53
1.75
1.83
1.52
1.76
1.88
1.52
1.78
1.86
1.53
1.75
1.93
1.53
1.72
1.88
1.49
1.73
1.91
1.54
1.75
254, 094
4,558
567, 956
20, 307
356
45,631
21,217
373
47, 623
20, 758
365
46, 457
19, 620
345
44, 119
21, 455
377
47, 974
22, 201
387
49, 519
23, 357
407
51, 894
22, 170
385
49, 344
23, 068
402
51, 348
21,960
383
48,905
21,015 21, 347
-•372
357
47, 424 '47, 089
20, 756
352
44, 778
4,595
21, 132
2,096
2,410
4,324
3,027
2,429
919
4 391
1,534
2,751
2,052
4,595
1,499
2,232
1,726
4,237
1,860
2,238
5.923
5.438
5.838
5.338
5.875
5.388
5.888
5.463
6.013
5.588
6.025
5.488
5.913
5.413
5.950
5.488
5.988
5.475
6.000
5.488
6.000
5.513
3,637
30, 536
1 12, 715
312
2,414
1,020
271
2,466
961
248
2,434
1,007
282
2,611
946
271
2,608
957
308
2,724
1,203
329
2,887
1,380
281
2,368
1,130
302
2,568
1,052
290
2,653
965
239
2,318
850
290
2,477
983
263
2,545
927
990
30.98
30.28
40.00
33.76
32.40
40.50
34.20
33.17
39.00
31.57
29.87
35.00
30.97
29.20
34.00
29.85
28.37
34.00
29.10
28.81
34.00
28.71
29.30
35.00
28.86
29.55
37.50
29.25
29.44
38.00
30.25
31.31
31.92
33.36
31.53
32.40
30.56
31.36
6,852
1,421
6,045
1,307
5,591
1,228
5,739
1,204
5,708
1,095
6,611
1,266
7,100
1,374
5,825
1,146
6,344
1,276
6,170
1,166
5,570
1,003
6,415
1,182
6,678
1,253
1,156
Wheat flour:
Production:
254, 185
Flour
thous. sacks (100 Ib.)
4,510
Offal
_ thous. sh. tons
569, 649
Grinding^ of wheat
thous. bu
Stocks held by mills, end of period
4,638
thous. sacks (100 lb.)._
23, 264
Exports
do
Prices, wholesale:
Spring, standard patent (Minneapolis)
5.927
$perl001b._
5.449
Winter, hard, 95% patent (Kans. City) .-do
1.89
1.53
1.75
LIVESTOCK
Cattle and calves:
Slaughter (federally inspected):
Calves
thous animals
3,876
Cattle
do
29, 592
1
Receipts at 38 public markets
do
11, 699
Prices, wholesale:
Beef steers (Chicago)
$ per 100 lb._ 27.65
Steers, stocker and feeder (Kansas City)__do
25.90
Calves, vealers (Natl. Stockyards, Ill.)__do
33.83
30.52
29.46
37.29
Hogs:
Slaughter (federally inspected). __thous. animals.. 74,789 75, 682
Receipts at 38 public markets
do
i 15, 932 1 15, 415
Prices:
Wholesale, average, all grades (Sioux City)*
$ per 100 lb._
19.08
23.65
Hog- corn price ratio (bu. of corn equal in value
to 100 Ib. live hog)
18.0
'20.8
Sheep and lambs:
Slaughter (federally inspected). .-thous. animals.. 10, 888
Receipts at 38 public markets . ._
do
i 2, 934
Price, wholesale, lambs, average (Chicago)
$per!001b_.
26.02
25.79
26.86
27.52
28.23
25.89
24.05
23.28
'23.9
'24.1
23.5
24.0
22.7
20.7
19.4
931
303
730
218
798
213
855
193
742
139
859
169
903
161
185
26. 00
27.25
27.75
27.25
28.00
27.75
27.38
27.75
29.50
2,650
2, 917
3,170
2,617
2,872
2,892
2,537
2,821
2,920
513
40
188
550
47
174
612
62
165
635
51
100
637
43
122
659
31
173
721
32
155
743
33
175
811
37
143
20.36
23.04
25.06
26.10
26.95
25. 98
'18.0
'19.3
'20.5
'21.4
'22.5
'• 22. 5
10, 070
i 2, 704
839
183
835
192
810
250
822
252
797
230
915
291
28.35
30.75
32.25
29.75
29.25
26.75
r 33, 372
2,788
2,692
2,602
2,705
556
45
139
513
46
163
25.49
'23.1
MEATS AND LARD
Total meats:
Production (carcass weight, leaf lard in) , inspected
slaughter
mil. lb_.
Stocks (excluding lard), cold storage, end of
period ._
._
.
mil. Ib
Exports (meat and meat preparations)
do
Imports (meat and meat preparations)
do
Beef and veal:
Production, inspected slaughter
do
Stocks, cold storage, end of period
do
Exports
do
Imports
do
Price, wholesale, beef, fresh, steer carcasses, choice
(600-700 Ibs.) (New York)
$ per lb_.
Lamb and mutton:
Production, inspected slaughter
mil. lb._
Stocks, cold storage, end of period
do
Pork (including lard), production, inspected
slaughter
mil Ib
Pork (excluding lard) :
Production, inspected slaughter
do
Stocks, cold storage, end of period ._ . d o
Exports
__ .
do
Imports
do
Prices, wholesale:
Hams, smoked composite
$ per Ib
Fresh loins, 8-14 Ib. average ("New York). .do
Lard:
Production, inspected slaughter
mil. lb._
Stocks, dry and cold storage, end of period.. do
Exports
_
do
Price, wholesale, refined (Chicago)
.$ per lb_-
32,714
637
571
1,685
678
54
149
18, 270
304
29
1,129
18, 874
363
28
1,194
1,492
275
2
99
1,520
254
3
85
1,499
238
2
99
1,591
246
2
118
1,570
273
2
148
1, 678
311
2
131
1,805
342
2
120
1,478
343
2
62
1,632
363
2
81
1,696
378
3
135
1,460
401
2
108
1,594
390
3
123
1,616
.501
.546
.556
.521
.498
.478
.459
.457
.468
.488
.487
.512
.506
.488
43
16
40
13
40
12
38
15
45
16
47
17
37
17
42
16
45
17
40
18
47
22
48
'21
21
1,064
1,074
1,041
1, 195
1,102
1,199
1,151
1,180
1,255
880
196
8
29
860
168
7
21
982
174
11
24
1,089
202
20
27
906
221
13
23
998
211
5
27
951
210
4
19
844
237
4
33
985
269
4
33
1,045
'329
4
32
.572
.631
.614
.609
.592
.616
.625
.608
.628
.622
.674
.614
.679
.657
.626
.578
.562
153
73
13
.473
2
.492
545
14
510
16
43
17
13, 899
13, 989
' 1, 252
11, 330
256
92
324
11, 565
211
152
316
1,042
324
10
33
935
299
23
33
877
246
13
28
.537
.509
.580
.575
.522
.495
.536
.572
.572
.614
1,862
94
••175
.112
1,755
70
262
.145
152
93
11
.133
1,130
142
80
40
.130
135
76
15
.131
POULTRY AND EGGS
Poultry:
Slaughter (commercial production)
mil. Ib
783
9,492
724
661
8,915
Stocks, cold storage (frozen), end of period, total
200
307
239
207
417
mil. Ib.
Turkeys _
do
192
119
155
123
317
Price, in Georgia producing area, live broilers
.135
.150
.145
Sperlb..
.131
.140
' Revised.
i Annual total reflects revisions not distributed to the months; receipts data for 1968 represent
807
625
508
1,594
633
62
134
1,318
1,011
'380
365
3
94
341
.581
154
56
22
.148
167
58
30
.165
142
48
42
.170
145
70
13
.169
144
65
25
.159
121
62
38
139
'67
37
897
949
1,048
812
840
761
653
742
786
324
237
423
329
539
436
390
284
307
192
272
162
250
133
223
101
'208
'82
213
73
.155
.145
.135
.130
.120
.140
.135
.140
.125
.130
141
62
11
.139
131
55
23
.150
842
248
163
.165
2
receipts at 28 public markets.
Beginning Jan. 1969, quotations are on carlot rather than
l.c.l. basis as previously.
*New series. Monthly data for earlier years will be shown later.
SURVEY OF CURRENT BUSINESS
June 1970
Unless otherwise stated in footnotes below, data
through 1968 and descriptive notes are as shown
in the 1969 edition of BUSINESS STATISTICS
1968
| 1969
Annual
S-29
1969
Apr.
May
I
June
July
Aug.
1970
Sept.
Oct.
Nov.
Dec.
Jan.
Mar.
Feb.
Apr.
May
FOOD AND KINDRED PRODUCTS; TOBACCO— Continued
POULTRY AND EGGS— Continued
Eggs:
Production on farms
mil. casesO-_
Stocks , cold storage, end of period:
Shell
thous. casesO..
Frozen.
mil Ib
Price, wholesale, large (delivered; Chicago)
$ per doz__
192.5
191.5
59
72
51
43
173
50
237
53
300
61
.372
.460
.404
.334
228.2
218.4
.458
14.3
.455
20.7
.443
16.3
16.9
15.9
15.3
15.9
15.6
16.3
16.3
14.8
16.8
16.4
16.8
213
66
120
64
85
56
45
55
64
50
51
43
46
41
79
40
83
41
M3
104
47
.351
.471
.433
.488
.471
.595
.627
.610
.515
.480
.374
.330
15.4
.456
25.5
.478
21.6
.469
6.3
.444
12.5
.461
18 8
.500
30 7
.458
36 8
.395
23.9
.345
22.6
.344
24.0
.323
.286
16.0
16.1
MISCELLANEOUS FOOD PRODUCTS
Cocoa (cacao) beans:
Imports (incl. shells)
thous. Ig. tons
Price, wholesale, Accra (New York)
$ per lb._
.344
Coffee (green) :
Inventories (roasters', importers', dealers'), end
of period
_ _
thous bagscf
Roastings (green weight)_._
do
21, 165
5,076
3,811
20, 851
Imports, total
__ _
do
From Brazil
_
do
Price, wholesale, Santos, No. 4 (N.Y.)~$ per lb__
Confectionery, manufacturers' sales
mil. $__
25, 377
8,318
.376
r
1, 756
20, 232
.408
* I , 848
285
275
188
191
201
4,395
6,680
4,298
6,352
1,707
1,502
116
174
145
137
370
192
do
do
do
11, 089
10, 927
2,961
10, 804
10, 655
834
933
sh. tons-thous. sh. tons_.
do
do
Fish:
Stocks, cold storage, end of period
mil. lb_.
Sugar (United States):
Deliveries and supply (raw basis) :§
Production and receipts:
Production
thous. sh. tons..
Entries from off-shore, total 9
do
Hawaii and Puerto Rico
do
Deliveries, total 9
For domestic consumption
Stocks, raw and ref., end of period
Exports, raw and refined
Imports:
Raw sugar, tota!9
From the Philippines
Refined sugar, total .
Prices (New York):
Raw, wholesale
Refined1.
Retail (Incl. N.E. New Jersey)
Wholesale (excl. excise tax).
Tea, imports
5,780
3,389
5.080
2,195
643
.380
' 140
1,664
478
.378
r
124
3 334
5,390
3 811
5 621
1,476
329
390
r
138
1,778
459
410
T
204
2 327
539
478
r
197
2 167
706
490
r
183
1 675
400
485
r 156
1 783
482
548
159
1 841
562
230
253
268
263
269
275
256
95
524
148
77
548
102
95
601
171
153
576
235
653
538
144
1 036
404
141
795
438
43
976
1,747
563
.375
r
3.361
4,780
1 714
529
375
121
1 761
323
r
1 639
333
165
129
221
196
192
647
935
41
419
158
99
169
399
95
645
155
177
918
2,580
965
2,796
818
2,698
2,396
1 019
1 008
2 164
1 058
1 077
1 698
1 077
1 062
1 396
928
814
1 625
806
798
2 307
929
919
2 796
826
815
2 858
795
783
2 827
1,320
968
163
85
46
38
69
57
120
50
68
133
2 728
4 045
217
4,879
4,776
1,075
1,024
486
140
1
438
58
538
153
124
577
124
7
416
95
13
328
71
6
423
42
0)
385
23
2
506
130
67
289
165
(\\
263
4
2
396
111
2
600
135
9
$ per Ib .
.075
.078
.078
.078
.078
.075
.078
.078
.079
.078
.076
.081
.080
.079
.079
$ per 5 lb__
__$ per Ib--
.624
.101
.638
.107
.629
.105
.632
.107
.642
.107
641
108
646
108
647
.108
643
109
645
.109
646
' 109
652
111
662
671
669
thous. lb_. 155, 335
139, 962
16, 785
17, 989
13, 655
11 644
8 892 13, 760
11 141
13 593
11 773
10 826
10 264
15 285
12 767
3, 311. 9
142.7
3 480. 5
138 7
268.7
287.6
138 9
281.1
144.5
244 4
130 7
281 7
128. 2
294 5
116 3
341 9
113 1
321 6
116 0
309 0
138.7
295 o
120 0
302 2
114.0
314 5
114 7
303 2
142 0
2, 995. 9
79.4
3 143.7
70 5
258.4
283.7
322.0
253 5
62 5
242 8
60. 2
254 3
60 2
268 4
53 0
274 9
63 3
279 4
70.5
263 7
76 4
263 6
77.3
293 9
68 8
293 4
84 0
190 3
57 7
169 2
62 8
46 7
51 7
r 43 g
47 7
48 1
40 0
117
2
201
944
928
2 671 P 2, 668
r
.082
FATS, OILS, AND RELATED PRODUCTS
Baking or frying fats (Incl. shortening):
Production
_.
mil Ib
Stocks, end of period©
do
Salad or cooking oils:
Production
__
do
Stocks, end of period©
do
Margarine:
Production ._
do
Stocks, end of period©
do
Price, wholesale (colored; mfr. to wholesaler or
large retailer; delivered)
$ per lb._
Animal and fish fats:A
Tallow, edible:
Production (quantities rendered)
mil. lb-_
Consumpt ion in end products
_
do
Stocks, end of period 1_
_.
do
Tallow and grease (except wool), inedible:
Production (quantities rendered)
do
Consumption in end products
do
Stocks, end of period i_
do
Fish and marine mammal oils:
Production
_
do
Consumption in end products
do
Stocks, end of periodf
do
142 1
73 9
91 4
74.7
2, 140. 9
49.1
2 181 9
52 1
169 3
58 7
165 1
58 2
169.5
54.1 j
.256
.260
.257
.257
539.1
517.3
49.6
534.6
510.9
45 9
41.4
41.4
47 4
4,655. 0
386.2
228.0
4, 745. 2
2, 478. 0
358.5
2, 595. 3
348 0
170.8
69.9
155.8
171 6
75.6
84.0
161 0
55 5
162 6
51.0
187 2
50 1
209 8
54 4
179 2
53 8
207 0
52.1
202 5
48 5
.257
257
257
257
265
272
272
272
42.0
43.9
44.3
40.5
45.6
32.8
39 7
37 2
28 3
43.1
43 3
27 8
44.4
43 0
25 6
49 5
48 0
26 0
48 7
41 3
34 5
49 3
35 2
45 9
49 9
40 9
46 0
372.3
363.8
378 4 r 392 0
202 6 r 208 2
429 9 r 370 o
401 0
218 9
368 2
T 7
53
r 66 1
31
59
74 0
198 4
60 6
47.7
50 6
49 o
r
r
211.6
335 9
306.4
219.9
281.2
382 8
211 5
283 3
374 3
208.1
290 4
383 2
220 5
303 6
432 9
238 1
330 8
393 8
211 0
353 7
398 3
208 2
348 0
5.4
20.8
5.2
123.5
27.2
7.1
130.9
29 3
50
142 1
31 4
5.8
126 0
28 2
72
131 4
14 0
66
148 2
82
68
104 6
47
69
84 0
420 4
209' 4
416 8
7
71
90 8
19.1
41 3
52 3
138 5
31 6
35.4
48 5
59 4
139 8
28 3
35.8
47 8
65 1
131 4
18 4
38.2
46 2
67 7
152 2
28 7
35.3
42 7
58 3
172 7
21 2
38.0
44 3
61 2
205 9
7°
25.6
44 3
55 1
200 4
146 5
26.2
42 8
64 7
139 5
49 4
'14.2
44 4
r
63 4
r
138 3
30 3
19.1
48 5
72 0
121 3
18 4
37.5
33.8
33.3
68.3
38 5
34. 1
35.5
70.4
39 2
37 1
37 7
41 2
36 2
42 0
37 9
44 2
41 1
38 0
39 0
39 7
36 9
34 6
37 3
43 9
41 5
39 9
fU Q
5Q 7
M1
50 q
38 6
34 9
36 0
57. 3
42 1
32 6
31 4
68.7
6.8
94.2
Vegetable oils and related products:
Coconut oil:
Production: Crude
mil. lb__
392.1
33.2
386.3
30.5
29.3
Refined
. _
do
548.7
43.6
44.0
547.5
52.2
Consumption in end products
do
61.0
730.7
60.5
732.6
63.8
Stocks, crude and ref., end of period^
do
197.1
154.2
205.9
155.6
153.1
Imports..
„
do
442.8
33.0
19.2
424.6
34.2
Corn oil:
39 5
Production: Crude _ .
do
40.1
452.8
465 5
40 0
Refined
do
429.6
438 1
39.5
33 0
36 8
Consumption in end products
do
439.6
442.2
39.9
33.6
37.4
Stocks, crude and ref., end of period^
do
54.1
40.5
65.9
65.9
68.5
r
Revised.
* Preliminary.
1 Less than 500 short tons.
O Cases of 30 dozen. tfBags of 132.276 Ib.
§ Monthly data reflect cumulative revisions
for prior periods.
9 Includes data not shown separately; see also note " §".
AFor data
r
70 7
on lard, see p. S-28.
stocks.
5
60
79 7
©Producers' and warehouse stocks.
T
r 59 Q
^Factory and warehouse
June 1970
SURVEY OF CURRENT BUSINESS
S-30
Unless otherwise stated in footnotes below, data
through 1968 and descriptive notes are as shown
in the 1969 edition of BUSINESS STATISTICS
1968
1969
Apr.
Annual
1970
1969
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
I Apr.
May
FOOD AND KINDRED PRODUCTS; TOBACCO—Continued
FATS, OILS, AND RELATED
PRODUCTS— Continued
Vegetable otls and related products— Continued
Cottonseed cake and meal:
Production
thous. sh. tons.. 1, 574. 9 2, 001. 9
135.1
74.9
Stocks (at oil mills), end of period
. do
Cottonseed oil:
1,115.1
Production: Crude
mil. Ib .
1,425.8
1,001.5 1, 252. 1
Refined
do
909.6
889.7
Consumption in end products
...do
Stocks, crude and refined (factory and ware272.7
house) end of period
mil Ib
398.7
61.7
246.5
Exports (crude and refined)
do
.163
.142
Price, wholesale (drums; N.Y.)
$ per lb._
175.0
192.5
155.0
215.5
106.8
179.4
69.6
155.0
57.0
99.2
74.9
64.9
221.5
61.4
229.9
79.0
240.0
74.9
232.0
83.6
213.4
108.6
r
197. 7
' 146. 0
147.2
148.4
127.3
119.9
74.7
112.4
109.4
69.7
80.4
94.0
88.6
50.3
72.2
62.4
37.2
54.9
64.9
51.0
61.1
64.9
156.3
106.2
82.9
161.4
110.9
83.5
161.9
129.0
95.7
160.3
120.9
81.4
151.3
125.1
84.5
r 140.
129.9
'90.9
103.7
96.5
90.5
460.8
14.9
.140
466.2
12.8
.140
467.6
4.9
.140
439.7
23.2
.140
418.0
6.9
.140
376.8
4.7
.140
372.8
43.4
.140
383.9
56.1
.140
398.7
42.6
.163
371.7
53.0
.163
394.0
52.2
' 351. 3
56.2
325.2
24.0
291.8
193.9
20.8
17.1
22.0
18.3
21.6
18.2
12.8
17.0
16.1
17.0
39.5
16.2
31.2
17.1
26.7
13.8
19.5
13.9
23.0
13.7
24.2
16.7
21.4
'14. 6
27.1
16.8
128.8
.120
156.7
.119
151.9
.119
131.4
.119
121.3
.119
113.1
.119
118.8
.119
130.7
.119
132.0
.125
128.8
.125
129.0
.125
132.6
13,462.7 14,717.2
149.2
103.2
1,163.4
151.6
1,246.7
162.4
1,164.7
133.2
1,200.8
140.6
1,123.8
130.8
1,096.0
108.6
1,416.2
120.2
1,418.6
139.4
Linseed oil:
306.6
Production, crude (raw)
_mil. lb__
' 193. 6
Consumption in end products
do
Stocks, crude and refined (factory and ware157.2
house) , end of period
mil. lb._
.127
Price, wholesale (Minneapolis)
_._$ per Ib..
Soybean cake and meal:
Production
thous. sh. tons
Stocks (at oil mills), end of period
do
Soybean oil:
Production: Crude
.mil, lb_
Refined
do
Consumption in end products
do
Stocks, crude and refined (factory and warehouse) end of period
mil Ib
Exports (crude and refined)
do. _
Price, wholesale (reBned; N.Y.)
$ per lb..
1, 453. 6 1,432.4
103.2
108.5
r 130.
2
4
134.2
1,346.2 '1,445.4 1, 437. 2 1, 548. 2
200.6
130.9
128.3 «• 125. 4
6, 149. 6
5, 227. 9
5, 401. 6
6,804.7
5, 860. 0
5, 926. 9
537.6
479.1
464.5
582.4
466.3
485.4
541.2
498.7
517.2
545.9
452.4
457.7
526.9
459. 4
480.8
511.8
489.3
513.5
660.3
513.0
531.2
657.6
526.2
527.7
663.7
560.8
551.9
664.2
533.0
531.0
626.5
509.2
523.3
r 671. 3
566.4
' 554. 7
672.3
545.9
535.7
588.6
823.4
.103
517.2
761.1
.110
595.5
77.1
.107
623.5
43.2
.107
557.2
120.3
.107
563.3
69.6
.107
552.5
20.2
.099
415.4
90.9
.107
470.7
45.3
.124
492.1
100.8
.126
517.2
97.2
.118
552.0
62.7
.118
558.6
46.2
' 560. 7
151.7
533.6
73.8
TOBACCO
Leaf:
1
1,710 'I 1,807
Production (crop estimate)
mil Ib
Stocks, dealers' and manufacturers' end of period
mil. lb_.
5,179
4,959
Exports incl scrap and stems
thous Ib 598, 916 579,106
217, 708 213, 402
Imports incl scrap and stems
do
39, 586
17,092
66, 505
17, 771
4 590
55, 541
20, 465
43, 536
16,864
43, 134
18, 970
4,771
61, 733
16, 794
62,293
19, 992
74,688
20, 902
4,959
77, 312
14, 416
20, 483
16, 738
28, 225
17, 413
4,837
41, 111
18, 303
38, 280
19, 109
Manufactured:
Consumption (withdrawals):
Cigarettes (small):
Tax-exempt
Taxable
Cigars (large), taxable
Exports, cigarettes.
_
__ _.
3,590
40, 222
552
1,707
4,041
44, 487
597
2,242
5,321
45, 249
576
2,958
5,009
41, 845
544
2,597
3,986
43, 208
621
2,693
3,718
45, 586
604
1,962
4,146
45, 768
715
2,089
3,702
38, 875
599
2,027
3,654
38, 036
412
2,329
3,874
42, 627
502
1,935
3,538
40,900
491
1,967
4,843
40, 588
527
2,608
2,374
11, 747
millions
do
do_ .
do
53,845
523, 007
6,759
26, 461
47, 118
510, 532
6,739
24, 970
LEATHER AND PRODUCTS
HIDES AND SKINS
Exports:
Value, total 9 .__ __
_ _
thous. $
Calf and kip skins
thous. skins
Cattle hides
thous hides
Imports:
Value, total 9 __
Sheep and lamb skins
Goat and kid skins
thous $
thous pieces
_ _ do-..
Prlces, wholesale, f.o.b. shipping point:
Calfskins, packer, heavy, 9H/15 Ib _
Hides, steer, heavy, native, over 53 Jb
Iperlb
do
128, 679
2,212
12 636
152, 446
1,652
14 778
13, 616
18, 837
11, 770
11, 862
14, 204
12, 652
14,606
14, 103
11, 321
13, 751
15, 280
11, 967
76
1,062
1,103
1,341
76
1,852
108
1,300
1,229
1,405
1,376
1,196
1,154
1,440
1,586
1,179
78 400
30 912
5, 203
62 400
2 20 716
2
5 068
11 200
5,951
8,000
4 107
5,600
1,646
6,200
2,121
4,800
1 575
4,400
1,507
3,100
3 900
4 400
349
4,000
1,971
6,600
2,993
5,700
1,847
417
548
320
2,700
358
.555
.112
561
146
650
178
.650
.170
.575
.575
.500
. 163
.450
1,966
228
683
177
171
694
473
.600
.148
130
148
115
146
111
131
621
253
349
508
.430
.139
.450
136
138
655
800
92
426
115
701
134
192
.403
123
LEATHER
Production:
Calf and whole kip_
thous. skins_.
Cattle hide and side kip- ..thous. hides and kips..
Goat and kid
...
thous. skins..
Sheep and lamb
...
do
4,247
24, 033
6,764
31, 413
3,381
312
' 22, 030 3 1. 987
5,856
600
r
2,330
25 242
Exports:
Upper and lining leather
thous. sq. ft..
77, 266
265,802
Prices, wholesale, f.o.b. tannery:
Sole, bends, light
index, 1957-59-100
Upper, chrome calf, B and C grades
index, 1957-59 =100. _
95.1
107.0
91.7
92.1
347
521
r
288
1,841
203
' 1, 549
_ _.
do
Prices, wholesale, f.o.b. factory:
Men's and boys' oxfords, dress, elk or side
upper, Goodyear welt -.. index, 1957-59=100
Women's oxfords, elk side upper, Goodyear
welt
index, 1957-59=100.
Women's pumps, low-medium quality.. _do
r
1
2
271
1,925
265
261
292
268
240
1, 692
r 1, 632
1,665
1,699
' 1, 814
1,878
1,925
393
2,030
r
1 840
531
1 835
1 775
1,866
2,070
4,119
4 561
5,299
5 657
6 063
6,312
6 396
111.5
111 5
112.3
112.3
112 3
90.9
81.2
81.2
85.6
85.6
49, 197
2,520
2,327
1,791
1,984
1,788
7,330
6,248
5,666
7,671
6,226
104.0
104.0
105.5
105.5
105.5
97.8
96.6
95.9
94.7
330
94.5
485
539
T
543
431
271
6 824
445
418
49, 718
47,631
52, 979
43, 237
44,928
47,697
47, 580 ' 50, 369
38, 251
10 480
36, 302
10 364
'325
40, 115
11 874
32, 970
9 407
37, 177
6 828
'775
39,553
7 299
39, 228 '40,489 38, 849
7 487 '8r 866 9 329
809
848
*696
r
210
166
169
755
154
2 884
2,324
217
230
190
162
207
129.7
133.8
131 2
131 2
131 2
131.2
131 2
118.7
134.4
126.6
139.8
127.2
137.8
127.2
139.0
127.2
139.0
127.2
140.7
127.2
140.7
Revised.
Crop estimate for the year.
Annual total reflects revisions not distributed to the monthly data.
248
1,758
455
LEATHER MANUFACTURES
Shoes and slippers:
Product ion, total t
thous. pairs __ 642,427 580, 857 48, 901 48, 271 47, 571 43,066
Shoes, sandals, and play shoes, except athletic t
thous. pairs.. 526,580 ••461,549 * 39, 513 37, 996 37, 220 33, 711
105 437 109, 065
Slipperst
do
8 472
9 532
9 480
8 776
Athletic t__.
do
8,423
8 331
758
475
726
597
Other footwear t
-do
1,742
2,079
145
104
158
146
Exports
215
1,853
491
140
228
815
175
714
146
172
189
135 7
137 1
127. 2
143. 0
128.7
142.3
700
145
148
9
21
154
137 1
137 1
137 1
128.7
142.0
128.7
139.7
128 7
142 8
3 Revision for Jan. 1969,1,990.
9 Includes data for items not shown separately.
tRe visions for the months of 1968 will be shown later.
104.2
160.5
189
195
166
SURVEY OF CURRENT BUSINESS
June 1970
1968
Unless otherwise stated in footnotes below, data
through 1968 and descriptive notes are as shown
in the 1969 edition of BUSINESS STATISTICS
1969
S-31
1969
Annual
Apr.
May
June
July
Aug.
1970
Sept.
Oct.
Nov.
Dec,
Jan.
Feb.
Mar.
Apr.
May
LUMBER AND PRODUCTS
LUMBER— ALL TYPES 9
National Forest Products Association:
Production, total
mil bd. ft
Hardwoods
do* .
Softwoods
_ _ __ __
do. __
Shipments, total
Hardwoods
Softwoods
_ _ _ _ _ _ _ _
_.do
do _ _
do
237,564
28,001
29, 563
3,427
685
2,876
625
688
680
718
698
728
699
2,736
2,805
3 203
2,401
2,382
2,403
2,507
2,177
550
3 142
2,585
2,663
608
2,802
2,186
2,248
2,188
2,455
2,508
38, 052
237,403
2 8, 646
28, 757
3,345
3,325
3,081
2,990
3,048
3,111
2,699
2,633
2 647
2,997
692
608
569
3 128
1 941
2 039
2 428
2 569
7,762
30, 290
Stocks (gross) , mill, end of period, total — do
Hardwoods
do
Softwoods
___ _
_ _ do. _
Exports, total sawmill products
Imports, total sawmill products _
37,094
6,960
30, 134
688
2 657
3,270
745
2,580
3,089
721
3,062
694
2 360
2 296
3,121
3,205
3,391
3,335
691
723
2,925
2 314
2,420
2,612
2,197
734
728
569
2 130
2,856
617
687
695
559
5,086
5,491
5,246
5,194
5,218
5,354
5,430
5,444
5,426
5,434
5,491
5,748
5,929
5,916
5,996
4,172
4 740
4 543
4,540
4 582
4,713
4 794
4 777
4,733
4,716
4 740
4 995
5 101
5 084
5 023
do
_ _ do
1,143
6,087
2 1, 158
2 6 263
103
664
106
549
101
554
88
537
91
495
120
528
103
525
85
443
116
435
515
92
423
104
488
147
535
mil. bd. ft
do
9,047
7,811
486
696
704
612
542
677
439
697
526
600
487
659
476
776
495
556
433
685
486
591
468
628
474
732
462
811
562
8,802
8,804
955
8,250
8,146
1,010
846
810
703
774
661
679
622
610
743
757
619
618
1,147
1,074
1,055
1,067
1,073
1,084
1,013
1,014
628
632
1 010
687
609
403
102
301
359
88
271
31
10
21
32
7
26
33
10
22
28
4
24
31
7
23
35
9
25
37
9
28
19
4
15
37
g
29
914
751
703
654
636
641
636
667
693
718
751
753
828
832
973
SOFTWOODS
Douglas fir:
Orders, new
Orders, unfilled, end of period
Production.
_
Shipments. _ _. _
Stocks (gross), mill, end of period...
Exports, total sawmill products
Sawed timber
Boards, planks, scantlings, etc
822
do_ _
do
.do
do
...do
do
Prices, wholesale:
Dimension, construction, dried, 1" x 4", R. L.
$perM bd. ft_.
Flooring, C and better, F. G., 1" x 4", R. L.
$perM bd. ft_.
Southern pine:
Orders new
Orders, unfilled, end of period
mil bd ft
do
681
670
107. 85
113. 52
140. 41
125. 96
109.95
95.71
95.08
94.61
94.28
96.15
166. 36
212. 59
213. 84
215. 44
213. 07
218. 84
215. 44
215. 44
222. 46
225. 60
7 145
7 336
324
579
415
559
355
528
320
573
303
625
330
617
334
671
331
7,645
7 434
701
669
666
619
651
563
642
590
607
598
594
613
671
674
422
Production
_
do
Shipments
do
Stocks (gross), mill and concentration yards, end
of period
mil bd ft
645
639
6,870
7,030
1 137
95.37
227.
1 088
749
744
684
711
1,094
1,099
1,072
34
7
27
37
11
27
31
5
26
e-lrt
609
366
681
402
588
572
626
645
628
622
92 86
24
227 24
585
339
505
324
qon
329
576
577
552
520
fft
552
rAc
1 143
1 190
1 278
1 330
1 339
1 320
1 317
1 316
1 348 1,418
1
M bd. ft__
90,477
2 75,687
7,699
9,086
6,882
5,764
5,947
7,615
6,718
5,821
8 597
7
Prices, wholesale, (indexes):
Boards, No. 2 and better, 1" x 6", R. L.
1957-59=100..
Flooring, B and better, F. G., I" x 4", S. L.
1957-59=100-
119.0
132.0
149.8
149.2
143.9
134.9
126.2
116.8
115.4
113.6
112.5
114.4
113.0
127.0
130.2
130.2
128.7
125.4
124.9
124.9
126.8
128.3
129.2
129.2
10 881
9,592
539
364
769
452
839
416
794
389
881
391
818
443
867
438
884
430
674
385
723
364
10 851
10,900
10 000
9 768
908
847
904
875
800
821
849
834
849
811
913
872
900
892
702
719
744
744
Exports, total sawmill products
Western pine:
Orders, new
Orders, unfilled, end of period
Production
Shipments
mil bd ft
do
do
do
Stocks (gross) , mill, end of period
do
Price, wholesale, Ponderosa, boards, No. 3, 1" x
12", R. L. (6' and over)
$ per M bd. ft__
1 348
1 481
1 462
5 976
5 977
9 561
637
399
680
407
778
391
867
402
668
602
7fH
672
796
794
850
856
1 79^
1 727
1 721
OEQ
ACK
1 396
1 627
1 534
1 563
1 542
1 557
1 595
1 636
1 644
1 627
1 627
1 693
87.72
107. 18
163. 54
145. 05
110. 28
82.19
79.64
74.90
76.02
77.83
86.00
90 55
496 5
23.9
380.6
12.0
27 4
17.5
29 2
14.1
30 1
12.7
38 7
16.8
33 6
14.9
32 g
15.1
36 7
16.6
24 2
13.2
24 1
12.0
21 6
10.5
21 2
9.8
28 3
10.8
31 2
13.2
459.3
485.1
23 5
393.1
387.8
29 6
35 4
32 9
27 g
33 0
32 4
27 7
31.2
31 6
26 3
29 7
34 1
°2 0
31 8
35 0
20 1
32 1
32 3
19 9
36 8
34 8
21 9
28 2
26 9
23 2
29 8
23 9
29 g
29.3
23 0
35 2
24.8
20.5
38 5
24.6
26.6
35.2
27.1
29.0
32.9
HARDWOOD FLOORING
Oak:
Orders new
Orders, unfilled, end of period
Production. _ _
Shipments
Stocks (gross), mill, end of period
mil bd ft
do
do
do
do
METALS AND MANUFACTURES
IRON AND STEEL
Exports:
Steel mill products
thous sh tons
Scrap
do
P i g iron
_ _ _ _ _ _ _
do
Imports:
Steel mill products
Scrap
Pig iron _
do
do
do
2 170
6 572
11
2 5 229
9 176
44
349
754
2
411
826
353
898
1
471
797
2
1 200
1 054
450
(i)
1 025
639
1
636
842
7
693
736
27
654
792
27
690
539
31
698
781
2
809
935
6
17 960
327
799
14 034
412
417
1 505
40
22
1 727
' 37
1 432
1 412
1 249
1 311
1 297
' 26
1 008
1 139
781
20
4
697
29
g
859
32
3
962
23
26
53, 545
33 587
87 060
7 882
56, 049
36 708
94 369
6 448
4 798
3 318
8 054
7 520
4
3
8
7
808
940
874
917
5 035
3 366
8 464
6 876
4
2
7
6
34 18
37.00
33 12
34.00
32 13
34.00
I
41
63
76
790
205
177
369
4 661
3 037
7 835
7 216
42
34
470
(i\
24
40
29
43
29
46
41
40
39
Iron and Steel Scrap
Production
Receipts, net fConsumption
Stocks, end of period
__
_ -thous. sh. tons
do
__ _
do
do
2
2
2
Prices, steel scrap, No. 1 heavy melting:
Composite (5 markets)
$perlg. ton.. 25.06
29.76 25.33 28.32 29.10
Pittsburgh district
do
27.00
32.00 27.00 30.00 31.00
r
Revised.
» Preliminary.
1 Less than 500 tons.
2 Annual total reflects revisions
not distributed to the monthly data.
9 Totals include data for types of lumber not shown separately.
4 499
2*795
7* 320
7* 204
4
2
7
7
29.20
30.00
31 82
34.00
510
799
506
015
4
2
7
6
625
928
943
532
4
2
7
6
662
980
742
448
34 30
35. 00
4
2
7
6
521
778
529
247
39 29
40.00
J Receipts previously shown for the period Apr. 1967-Sept. 1969 have been corrected to
represent net receipts (i.e., less scrap shipped, transferred, or otherwise disposed of during the
period); data comparable with the net receipts shown through Mar. 1967 appear in the Feb.
1970 SURVEY, p. S-31.
SURVEY OF CUERENT BUSINESS
S-32
Unless otherwise stated in footnotes below, data
through 1968 and descriptive notes are as shown
in the 1969 edition of BUSINESS STATISTICS
1968
1970
1969
[ 1969
Annual
June 1970
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
5,089
May
METALS AND MANUFACTURES—Continued
IRON AND STEEL-Continued
Ore
Iron ore (operations in all U.S. districts):
Mine production. _ _ _ _
thous. Ig. tons
Shipments from mines
do
Imports
_
do
85, 865
182 531
43, 941
89, 241
91 849
40 758
6 104
5 297
2 856
9,514
10 491
3 426
9 693
11 563
2 906
9,611
12 052
4 018
9 710
12 075
3*706
8 893
11 116
5 188
8, 596 •
10 221
6 002
5 712
7 490
3 997
5,327
4 824
4 072
5 353
2 65'
2 189
2 583
2,307
5 788
2 318
1 936
2 944
U.S. and foreign ores and ore agglomerates:
Receipts at iron and steel plants
do
Consumption at iron and steel plants
do
Exports..
_
do
118, 581
120, 449
5 937
126 165
128, 550
5 430
7 281
11 013
436
13 330
11,396
656
12 519
10 751
523
15 335
10 385
675
14 510
10 404
807
15 157
10* 342
466
15 001
11, 244
335
11 928
10 762
341
9 832
11 083
417
4 012
10 482
334
3 880
9, 562
315
4 561
10, 788
197
7 542
10 378
339
303
652
003
648
56 765
26 105
29' 683
977
57 742
25 127
31 617
998
57 602
23 267
33 410
925
60 484
20 820
38 397
1 267
62 505
18* 454
42 515
1 536
65 523
16 245
47 331
1 947
68
14
51
9
68
13
52
2
67
13
51
2
303
652
003
648
63 147
16* 170
44 488
2 489
832
795
814
223
56 656
22 265
32 587
1 804
29 750
1 619
953
1 124
126
81
69
95
105
122
94
117
123
106
45
41
56
88, 780
i 89 953
2 342
95 015
94 486
1 715
8 150
8 083
1 933
8 414
8 282
1 864
8,055
7 896
1 932
7,836
7 680
1 991
7 6999
7 74
1 894
7 739
7 732
1 828
8 292
8 253
1 760
7 955
7 923
1 720
8 139
7 965
1 715
7 668
7 559
1 752
r
7, 062
8 059
7 790
62.70
63.00
63.78
T
1 076
1 054
1 271
726
1,064
1,277
745
45
104
80
45
94
94
53
10 498
140 9
11 886
144 1
11, 386
142 6
443
T 122
433
160
131
430
162
129
Stocks, total, end of period
At mines
._
At furnace yards
At U.S. docks ...
do
do
do
do
72
15
53
2
Manganese (mn. content), general imports... do
019
990
232
797
67
13
51
2
512
918
088
506
047
141
254
652
59
18
38
2
Pig Iron and Iron Products
Pig iron:
Production (excluding production of ferroalloys)
thous. sh. tons
Consumption
-_
do
Stocks, end of period
._ thous. sh. tons
Prices:
Composite
___
__$ per Ig. ton,.
Basic (furnace)
_ _ _ _ _ _
do
Foundry. No. 2, Northern
__ do.
Castings, gray iron:
Orders, unfilled, for sale, end of period
thous. sh. tons
Shipments, total
do
For sale
do
Castings, malleable iron:
Orders, unfilled, for sale, end of period
thous. sh. tons
Shipments, total
do
For sale
do
63. 50
64 00
64 33
69 70
63 00
63 50
62.70
63 00
63 50
62.70
63 00
63.50
63.15
63 00
63 60
65 20
65 50
63 50
65 20
65 50
66 00
65.20
65 50
66 00
65.20
65 50
66 00
65 20
65 50
66 00
65 50
66 00
923
15 034
8,710
1 091
15 935
9 187
993
1 391
' 802
1 032
1 353
778
1 019
1 361
*815
1 097
1 192
720
1 144
1 286
' 756
1 143
1 402
'811
1 150
1*498
886
1 096
1 260
735
1 091
1 273
716
1 080
1 214
674
3
117
1 171
672
130
105
60
127
97
54
119
96
54
143
80
50
141
93
56
130
97
58
121
103
64
115
79
49
117
1 131 462 i 141 262
1 ~\A.t\ A.
135 0
I9 143
12 356
11 810
147 Q
11 365
137 8
11 421
11 916
149 3
11 812
1 ^8 d
11 523
1 4.4. ^
12 324
I A(\ 0
ik^l 9
11 243
i ^fi ^
137
1 102
588
89
48
109
78
45
r 1 206
699
T
107
r 80
Steel, Raw and Semifinished
Steel (raw) :
Production.
_
thous. sh tons
Index
daily average 1957 59—100
Steel castings:
Orders, unfilled, for sale, end of period
thous sh tons
Shipments, total __
do
For sale, total
do
i c9 i
371
1 731
1437
446
1 900
1 583
442
168
140
453
172
135
457
161
134
455
156
129
462
135
112
433
153
127
420
167
138
430
151
128
446
152
125
435
147
120
i 91 850
i 93 877
8 269
8 304
7 971
7 629
7 710
7 896
8 439
7 560
7 654
8 538
7 242
8 244
7,039
4 821
6 149
8 401
1 462
6 373
6 244
8 238
1 514
494
533
734
156
520
551
756
140
450
532
749
130
466
552
729
102
649
704
610
584
553
756
144
792
538
738
167
724
496
631
156
do
do
do
do
do
do
do
do
do
do
13 660
8 497
3 241
1 815
10 078
3 393
7 267
36 624
10 782
16 336
14 354
8 659
3 659
1 923
9 232
3 256
6 555
38 111
12 471
16 427
1 304
795
320
178
930
303
553
3 263
1 034
1,448
1 285
758
352
165
842
284
575
3 352
1 056
1 482
1 229
'716
337
167
848
293
563
3 177
1 080
1 312
1 145
669
325
143
759
952
582
3 042
1 013
1 283
1 068
665
252
142
630
237
331
2 9399
1 12
1 143
1 349
759
428
152
734
285
446
3 195
1 261
1 214
1,173
668
408
90
82-1
263
445
2 327
907
919
do
do
do
do
i 16, 099
1 12, 195
i 4, 922
1 19, 269
4,454
2 1, 293
2 915
2 292
do
do
do
do
r
r 149
Steel Mill Products
Steel products, net shipments:
Total (all grades)
thous sh tons
By product:
Semifinished products
do
Structural shapes (heavy) steel piling do
Plates... _
'
do
Rails and accessories
do
Bars and tool steel, total
Bars: Hot rolled (incl. light shapes)
Reinforcing
Cold
finished
Pipe and tubing...
Wire and wire products
Tin mill products.
Sheets and strip (incl electrical) total
Sheets: Hot rolled
Cold rolled
By market (quarterly shipments):
Service centers and distributors ...
Construction, incl. maintenance
Contractors' products _
Automotive
Rail transportation
Machinery, industrial equip., tools
Containers, packaging, ship, materials,
Other
Steel mill products, inventories, end of period:
Consumers' (manufacturers only) mil sh tons
Receipts during period
do
Consumption during period
do
527
495
630
104
1 174
' 681
334
150
691
567
3 251
l' 107
1*358
582
526
655
104
604
719
108
653
105
662
131
1 194
701
320
162
702
279
571
3 284
1 093
1 398
1 307
790
349
164
694
1 157
701
297
149
598
237
449
3 185
1 112
1 337
1 146
703
291
142
699
518
3 624
1 2^5
1 526
r-l Q
9QH
598
o 964
1 015
1 260
roo
697
128
1 126
718
244
155
594
235
1 276
3 351
l' 170
1 422
4 656
3 262
1,258
4 587
4 468
2,789
1 216
4 481
4
9
1
4
454
610
167
415
2,541
1,123
3 853
i 3, 048
i 5, 469
i 7, 902
i 22, 952
13 343
i 5, 690
i 7, 145
i 25, 687
943
1 542
1,862
6,435
721
1 333
1 838
6 388
774
1 4'?2
1 709
7 102
918
1,513
2,173
7, 759
2 2, 262
10 5
70 1
68 7
9 8
69 3
70 0
'9 9
5.8
r
61
5.7
6.4
10 1
6.2
6 2
10 1
60
6o
98
56
59
10 0
5' 2
50
10 0
53
53
9 8
59
6i
6 3
58
5 6
5 7
58
61
59
9 9
9 0
11 7
10 2
10 3
96
10 4
95
10 5
95
10 8
96
11 0
95
11 0
95
Steel (carbon), finished, composite price. _ _ $ per Ib
.0908
.0908
.0873
.0931
.0933
.0917 .0903
1
2
'8 Revised.
v Preliminary.
Annual total; monthly revisions are not available.
For month shown.
For eleven months.
.0933
319
roo
* 17 565
11 402
i 4, 768
1 18 276
1
6 3
Service centers (warehouses)
do
Producing mills:
In process (ingots, semifinished etc )
do
Finished (sheets, plates bars p'ipe etc~) do
r rA
10 0
6 4
6 2
58
n
o
9 8
5 6
5 7
5 9
n
o
9 8
5 6
57
6 0
n
7
fi
9 9
10 2
.0933
.0933
.0933
Q
10 2
6 4
60
10 2
5 7
5 7
61
r 6 0
6 0
U 7
9 2
11 5
9 3
11 5
9 4
21,113
2309
2389
2466
11 7
10.2
_
SURVEY OF CURRENT BUSINESS
June 1970
Unless otherwise stated in footnotes below, data
through 1968 and descriptive notes are as shown
in the 1969 edition of BUSINESS STATISTICS
1968
1969
Annual
S-33
1970
1969
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
METALS AND MANUFACTURES—Continued
NONFERROUS METALS AND PRODUCTS
Aluminum:
Production, primary (dom. and foreign ores)
thous. sh. tons.. 3, 255. 0 3, 793. 1
i 925. 0
Recovery from scrap (aluminum content). .do
958.0
Imports (general):
Metal and alloys crude
Plates, sheets, etc
Exports, metal and alloys, crude
323.8
90.0
313.0
88.0
321.2
71.0
318.0
76.0
313.0
77.0
326.9
83.0
318.7
79.0
332.2
72.0
334.7
66.0
305.2
' 339. 3
76.0
328.3
69.0
685.2
61.8
1-80. 3
468.6
57.2
344.4
57.9
7.0
31.8
42.1
5.6
23.7
41.1
5.4
24.5
41.4
5.7
38.1
37.4
4.3
34.9
35.6
4.4
43.1
32.9
4.4
43.9
28.6
3.9
31.6
26.9
4.5
41.1
35.3
7.1
49.5
40.4
"9.1
50.2
33.3
8.9
43.1
32.6
6.6
36.0
.2557
.2718
.2700
.2700
.2700
.2700
.2700
.2700
.2765
.2800
.2800
.2800
.2800
.2800
.2859
mil. lb-_ 9,864.8 10,721.5
7,170.0 7, 652. 8
do
3, 404. 6 3, 711. 9
do
1, 588. 2 1, 698. 1
do
909.4
651.4
312.1
151.6
931.5
687.5
337.4
146.7
928.8
656.6
321.5
142.0
873.6
626.9
302.4
114.0
849.5
606.5
297.5
130.4
933.3
640.7
300.7
142.7
932.5
647.5
300.7
157.3
849.2
586.2
277.4
130.7
911.7
630.9
314.6
129.7
837.4 ' 834. 9
583.6 r 597. 8
272.2 r 286. 7
137.1 r 130. 7
936.5
685.2
348.9
146.5
861.5
633.6
318.4
137.6
3,839
3,895
do
do
do
Price, primary ingot, 99.5% minimum... $ per lb..
Aluminum products:
Shipments:
Ingot and mill prod, (net ship.)§
Mill products total §
Plate and sheet
Castings A
309.4
91.0
Inventories, total (ingot, mill prod., and scrap)*
mil. Ib.-
3,725
3,749
3,773
3,768
3,742
3,826
3,826
3,781
3,781
3,770
3,749
3,815
Copper:
Production:
Mine, recoverable copper
thous. sh. tons-_ 1, 204. 6
1, 437. 4
Refinery, primary
do
1, 160. 9
From domestic ores
do
276.5
From foreign ores
do
400.9
Secondary, recovered as refined
do
1, 558. 0
1, 742. 8
1, 468. 9
273.9
465.6
131.5
149.3
124.3
25.0
36.4
127.4
151.0
127.3
23.7
36.8
129.3
141.8
118.2
23.6
40.5
123.2
134. 5
113.5
21.0
37.5
125.2
130.4
108.9
21.4
39.1
127.7
133.6
111.4
22.2
40.6
140.6
157.1
127.5
29.5
44.9
140.0
145.6
123.9
21.7
41.0
140.6
159.0
140.4
18.6
41.4
139.9
148.6
131.4
17.2
37.5
716.7
405.4
415.1
131.1
40.8
11.0
44.2
13.7
32.5
15.9
33.7
8.5
36.3
9.4
38.3
7.2
32.9
12.3
36.3
15.8
31.5
11.8
24.5
11.7
25.9
6.8
25.8
10.0
34.0
6.8
360.8
240.7
286.2
200.3
27.7
19.0
24.0
15.7
23.7
17.0
23.2
16.3
28.9
18.5
28.1
17.9
23.8
15.6
21.2
13.7
20.0
14.9
25.1
18.6
30.3
20.0
27.3
18.8
32.5
24.0
1,876.4
Consumption, refined (by mills, etc.)
do
171.5
Stocks, refined, end of period
do
114.9
Fabricators'
do
Price, electrolytic (wirebars), dom., delivered?
$ per lb.. 2.4225
2, 145. 0
170.3
124.4
187.0
153.8
106.6
183.6
152.3
108.5
194.1
138.8
104.1
141.7
164.5
122.7
167.5
159.4
115.8
180.1
138 9
92.5
194.7
150.2
95.1
181.1
162.9
106.7
180.5
170.3
124.4
170.1
175.1
123.1
186.6
176.4
118.2
200.8
111.9
f 185.9
r 177.1
p 118.9
.4793
.4495
.4589
.4642
.4645
.4832
.5176
.5248
.5252
.5289
.5625
4.565
4.565
4.598
Imports (general):
Refined unrefined scrap (copper cont ) do
Refined
do
Exports:
Refined and scrap
do
Refined
do
Copper-base mill and foundry products, shipments
(quarterly total) :
Brass mill products
mil lb
Copper wire mill products (copper cont.)___do
Brass and bronze foundry products
do
r 3, 865
131.8 ' 144. 3
140.1
157.5
120.9
136.8
19.3
20.6
37.7
47.2
r 179. 3
r
142.8
151.4
128.1
23.2
45.0
r 2, 213
••822
3,111
r 2, 524
-853
359.2
i 550. 9
501.9
604.2
42.6
50.9
44.2
49.7
45.5
50.1
44.7
44.1
45.5
48.8
43.5
53.0
41.7
55.4
41.3
49.8
41.4
49.2
47.8
46.7
46.9
45.8
52.5
50.4
424.6
1,328.8
389.6
1, 375. 2
47.1
114.4
32.1
115.9
34.6
114.6
38.1
100.5
36.6
111.7
25.1
122.5
37.5
130.5
28.2
112.1
28.5
116.7
28.2
116.1
36.2
109.0
32.6
118.7
146.8
165.7
136.7
135.5
135.0
150.1
160.7
171.0
176.1
172.3
165.7
158.0
162.7
157. . 1
15.3
88.9
25.5
151.0
12.9
121.3
18.7
127.6
18.1
135.6
15.0
142.4
15.3
145.1
17.7
146.6
20.5
141.3
22.7
148.4
25.5
151.0
30.5
147.8
33.2
160.2
36.6
169.0
57.8
.1321
64.9
.1490
55.2
.1440
54.3
.1450
51.6
.1486
55.9
.1545
59.0
.1550
61.3
.1550
59.2
.1550
57.9
.1559
64.9
.1603
74.7
.1650
75.9
.1650
73.0
.1650
Ig. tons__
do
do.. _
do
do
do
3,266
57, 358
122,495
1 2, 978
81,961
58, 859
0
54, 950
23, 030
3,000
80, 571
57, 816
0
6,590
2,120
235
7,250
5,145
0
7,177
1,935
275
7,130
5,075
0
4,544
1,980
270
6,905
4,965
0
3,607
1,710
250
6,435
4,870
0
4,738
1,775
260
6,455
4,665
0
4,805
1,895
195
6,625
4,695
0
5,312
2,140
285
7,105
4,925
0
3,975
1,895
255
6,110
4,360
0
4,141
1,770
270
6,210
4,430
0
5,358
1,885
270
6,345
4,565
0
2,731
1,800
255
5,605
3,825
0
47, 707
1,840
285
r 6, 760
r 4, 680
0
3,818
Exports, incl. reexports (metal)
. . _ _ .do
Stocks, pig (industrial), end of period
do
Price, pig, Straits (N.Y.), prompt
$ perlb__
5,027
18, 534
1.4811
3,217
13, 830
1. 6444
137
15, 635
1. 5681
154
14,940
1. 5667
581
15, 325
1. 5900
124
14, 680
1. 6200
83
13,645
1. 6590
270
16, 045
1. 6564
143
16,245
1. 6671
320
14, 808
1. 7596
852
13, 830
1. 8132
448
13, 655
1.7917
808
327
13, 135 r 12,680
1. 7491 1. 7712
81
11, 765
1. 8388
Lead:
Production:
Mine, recoverable lead
thous. sh. tons__
Recovered from scrap (lead cont.)
do
Imports (general), ore (lead cont.), metal— do
Consumption total
do
Stocks, end of period:
Producers', ore, base bullion, and in process
(lead content), ABMS
thous. sh. tons__
Refiners' (primary), refined and antimonial
(lead content) .
_ thous. sh. tons
Consumers' (lead content)^
do
Scrap (lead-base, purchased), all smelters
(gross weight)
thous sh tons
Price, common grade (N.Y.)
$perlb-_
Tln:
Imports (for consumption) :
Ore (tin content)
Bars, pigs, etc
__
Recovery from scrap, total (tin cont.)
As metal
Consumption, total
Primary
Zinc:
Mine prod., recoverable zinc
Imports (general):
Ores (zinc content) ...
Metal (slab, blocks)
832
'653
220
731
'609
'209
717
658
203
708
599
226
529.4
544.1
47.4
47.3
46.4
45.1
46.5
46.5
46.5
44.6
44.7
45.1
45.7
48.7
546.4
305.5
602.1
324.7
37.6
29.8
59.6
32.1
71.6
25.9
49.4
32.8
47.1
27.6
50.9
31.4
57.0
25.7
53.0
23.8
40.3
27.8
44.7
25.6
45.2
21.7
56.6
21.3
do
do
i 124. 1
* 270. 6
133.7
232.8
10.8
19.3
11.9
19.7
10.7
19.0
10.0
18.6
10.3
19.0
12.3
19.2
13.0
20.4
12.2
20.0
12.3
20.1
7.5
18.9
11.8
18.8
12.8
19.8
91.4
4.6
102.7
.2
88.6
4.8
110.8
2.2
90.0
4.6
116.0
.7
88.0
6.5
122.0
.4
86.6
6.2
103.0
.1
85.0
5.5
97.3
(3)
87.4
5.2
97.4
(3)
76.9
6.1
94.6
(3)
85.5
6.9
100.0
.1
Slab zinc:
Production (primary smelter), from domestic
92.5
93.7
92.7
and foreign ores
thous. sh. tons-_ i 1,020.9 1, 083. 6
5.3
5.0
5.7
65.7
179.9
Secondary (redistilled) production
_do
1
117.8
117.8
115.8
Consumption, fabricators'
do
1,333.7 1, 362. 9
.1
.2
Exports
do
9.3
.4
33.0
Stocks, end of period:
42.9
37.9
Producers', at smelter (AZI)O
do
78.3
63.1
38.1
Consumers'
...
do
102.4
97.3
97.9
94.5
101.8
Price, Prime Western (East St. Louis). $ per lb.. .1350
.1450
.1460
.1400
.1450
r
Revised.
v Preliminary.3
1 Annual total; nnonthly revisions are not availab le.
2
Average for Apr .-Dec.
Less than 50 tons.
Beginnirig Feb. 19 70, the n BW META LS
WEEK price (based on mine production rates and k nown sel ling price 3 Of U.S produc ?rs
only) is not comparable with prices for earlier month s.
< Co rrected.
§For revised 1968 monthly data, see Feb. 1970 Su RVEY, p. 3-32.
A Revised data (1966-68) are in the Apr. 1970 SUEV EY.
*:N ew series Source, U.S. De pt.
r
do
.do
thous. sh. tons__
Consumption (recoverable zinc content) :
Ores
_.
_
Scrap, all types
2,757
4.602
r
26.7
.1650
.1650
6,595
4,665
39.5
22.3
0
51.1
45.9
78.3
94.6
109.2
138.5
61.4
48.6
123.2
134.0
104.0
105.7
85.4
99.1
87.9
93.5
94.5
81.3
.1450
.1486
.1550
.1550
.1550
.1550
.1550
. 1550
. 1550
.1550
of Co mmerce; monthbf data ba ck to Jari. 1967 ar e available.
JP rices sho);vn are a Arerages o f deliven;d prices average differen tial betw 3en the delivered
and t he refinery price is 0.400 c jnts per 1b. throuj?h 1969 a id 0.500 csents thei eafter.
rf( Consume rs' and s econdarj' smelter3' lead si ocks in i efinery s hapes an d in copper-base
scrap .
OI^roducer.>' stocks jlsewhenj, end of May 197 ), 20,100 tons.
43.7
109.0
.1450
SURVEY OF CUEKENT BUSINESS
S-34
1968
Unless otherwise stated in footnotes below, data
through 1968 and descriptive notes are as shown
in the 1969 edition of BUSINESS STATISTICS
1969
1969
Apr.
Annual
June 1970
May
June
July
Aug.
1970
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
METALS AND MANUFACTURES—Continued
HEATING EQUIPMENT, EXC. ELECTRIC
Radiators and con vectors, shipments:
Cast-iron
mil sq ft radiation
N on ferrous
do
Oil burners:
Shipments
thous
Stocks end of period
do
Ranges, gas, domestic cooking (incl. free -standing,
set-in, high-oven ranges, and built-in oven
broilers) shipments
thous
Top burner sections (4-burner equiv ) ship do
19.8
J79.2
5.3
78.5
.3
5.1
.3
5.7
.4
6.6
.3
5.8
.4
7.0
.6
7.9
.6
9.0
.4
5.9
.3
5.1
.3
.5
5.1
i 532. 6
!45.8
665.3
51.7
28.2
46.0
21.2
52.2
27.9
40.3
30.5
63.1
28.3
66.1
23.7
73.6
19.7
52.9
18.2
57.0
48.4
47.5
2, 268 2
206.1
2,471.1
198.7
197.3
15.5
203.0
17.0
213.3
17.8
169.0
15.6
221.2
15.8
230.3
18.3
237.9
17.7
201.8
14.8
199.6
16.2
167 5
13.0
178.2
13.7
1
1,446 8 1,361.6
Stoves domestic heating shipments total do
967.0
11,001.3
Gas
do
Warm-air furnaces (forced-air and gravity air-flow), 1
shipments totalthous 1 1, 740. 9 1,898.8
1,428 1 1, 531. 6
Gas
do
2, 705. 9 2, 784. 6
Water heaters gas shipments
do
80.4
51.8
85.9
60.7
98.2
68.6
128.5
95.7
176.4
133.5
172.0
132.1
189 4
143.8
133 4
102.0
79.3
52.6
71.2
37.8
66.7
31.8
74 1
49.0
133.0
110.7
270.1
143.9
120.2
227.7
147.8
120.3
210.8
154.1
124.7
208.2
172.3
136.3
205.5
202.3
153.9
233.0
218.9
170 7
249 8
153.2
121 7
246.3
146.9
121.4
210 4
150.1
125 4
245.1
133.7
110.8
214.4
138.2
113 7
235.1
550.3 1, 402. 1
1
44.0
MACHINERY AND EQUIPMENT
Foundry
equipment (new), new orders, net
mo avg shipments 1 957-59 ~ 100
Furnaces (industrial) and ovens, etc., new orders
(domestic) net
mil $
Electric processing
do
Fuel-fired (exc for hot rolling steel)
do
Material handling equipment (industrial):
Orders (new) index seas adi
1957 59 — 100
Industrial trucks (electric), shipments:
Hand (motorized)
number
Rider-type
do
Industrial trucks and tractors (internal combustion
engines) shipments
number
Machine tools:
Metal cutting type tools:
Orders, new (net), total
Domestic
Shipments total
Domestic
Order backlog, end of period
.
Metal forming type tools:
Orders, new (net), total
Domestic _.
_
_
Shipments, total
Domestic
Order backlog, end of period...
270 3
366.1
628.5
310.2
268.6
419.7
469.1
318.3
273 0
307.2
242 4
499 0
369.5
121 2
1
12 1
1
64.6
1 113. 1
U6.4
158.3
17.0
1.9
9.8
9 7
.6
6.6
10 4
.8
6.9
8.4
1.2
4.7
6.4
.3
4.0
5.9
1.6
2.2
6 7
.6
3.1
9 5
5.8
1.8
6 6
g
3.4
12.2
.7
3.2
6.9
1.3
2.4
7.4
1.0
4.1
262.9
220 4
6 246 8
269 2
240 2
242 1
227 1
220 2
249 1
226 8
257 2
224 1
228 3
200.4
10 753
12, 243
14, 579
14, 903
1,221
1,284
1,394
1,257
1,336
1,205
1,037
1,494
1,041
900
1,282
1,352
1 348
1,391
1,069
1,282
1 406
1,399
1,000
1,407
1,305
1,220
1,218
1,573
1,150
1,057
42 601
50, 446
3,958
5,137
4,223
3,777
4,074
4,429
4 220
4,010
4 328
4,135
3,643
3,846
3,416
mil $
do
do
do
do
1, 079. 35
959 90
1,358 30
1, 238. 30
809.6
1, 195. 30
1 032.65
1 192.45
1, 077. 45
812.4
182. 35
173.60
101.10
91. 95
901.6
113. 20
99.05
98.45
88.90
916.4
112.70
99 90
122 20
112.40
906.9
87.35
70 00
83.85
75.05
910.4
66.70
56 45
74.05
63.15
903.0
82.00
58.50
108. 40
96. 65
876.6
89.00
77 40
104. 60
94.00
861.0
78.95
67 55
92 20
83 90
847.8
82.80
70.20
118.15
103.35
812.4
92.25
78 60
93 85
84.35
810.8
62.85
52 70
87.35
74.65
786.3
75. 95
60. 00
98. 20
82. 50
764. 1
58.20
45.00
81.35
67.25
740.9
do
do
do
do
do-__
394. 75
360.55
368.60
324. 45
254. 5
533. 45
484. 35
405. 10
369. 30
382.8
90.20
86.95
29.05
25. 70
348.7
55.70
52.75
31.95
29.50
372.5
49.70
45.60
40.00
35.85
382.2
40.65
37.10
27.90
26.25
394.9
38.60
33.30
30.70
28.05
402.8
27.70
23. 95
34. 85
32. 80
395. 7
45.00
36.25
43 20
40.40
397.5
31.90
27.70
39 20
34 15
390 2
26.25
24.20
33.60
31.20
382.8
22.30
18.70
40 70
38 65
364.4
31.70 ' 20. 35 23.75
29.65 ' 17. 00 22.05
39 60 ' 40. 95 34.45
33.60 ' 38. 20 31.80
356.5 ' 335. 9 325.2
100 8
30 5
344 3
3 44 5
344.4
344.5
3 77 2
3 78 1
3 93.1
3
Other machinery and equip., qtrly. shipments:
Tractors used in construction:
Tracklaying, total
mil $
Wheel (contractors' off-highway) . . do
Tractor shovel loaders (integral units only),
wheel and tracklaying types.. . _ mil. $
Tractors, wheel (excl. garden and contractors'
off -highway types)
mil $
Farm machines and equipment (selected types),
excl. tractors__- _ _
mil. $
1
453. 4
68.4
490.2
178.0
i 502. 6
1938 4
1
134 8
53.5
107 4
49 0
617.6
173.0
139. 1
138 5
874 1
247 5
175 6
228 5
1,211.3 1, 148. 7
320.2
228 3
236.7
'
'
'
'
'
81.2
ELECTRICAL EQUIPMENT
Batteries (auto, replacement), shipments
thous
34, 960
Household electrical appliances:
Ranges, incl. built-ins, shipments (manufacturers'), domestic and export
thous_- 2, 306. 8
Refrigerators and home freezers, output
165.6
1957-59 = 100 Vacuum cleaners, sales billed .
thous 16, 653. 1
Washers, sales (dom. and export)
do
4,519. 8
Dryers (gas and electric), sales (domestic and
export) - _ _ _ _ _ _ _
thous
2, 861. 8
Radio sets, productionO.do
Television sets (incl. combination), prod.O _do. _
Electron tubes and semiconductors (excl. receiving,
power, and spec, purpose tubes), sales ._ mil. $
Motors and generators:
New orders, index, qtrly
_ 1947-49=100
New orders (gross) :
Polyphase induction motors, 1-200 hp
mil. $
D.C. motors and generators, 1-200 hp
do
4,011
4,486
3,853
3 973
3 877
3,280
' 2, 617
2,114
195.2
194. 6
242.2
144.6
153.5
120.2
142.8
210.8
205.5
200.2
125.0
562.8
417.9
194. 1
765 0
433 5
201.8
728.7
462 8
98.6
645 0
290 8
113.3
520 9
277 1
131.5
565 1
241. 1
194.9
636 1
302.9
219.5
645.1
399.8
225.1
561.5
339.0
324.9
350 4
394.6
268 2
243 6
203 7
219.4
278.8
197.5
173.6
1,838
984
1 504 4 14 437
764
888
1 369
704
1 240
782
14 632
895
1,322
509
1,292
531
'63.8
58.1
3,074
2,324
2,485
194.2
200.6
209.2
212.2
515.9
332.9
207.3
514.6
381.5
196.6
499.6
395 4
173.3
146.1
190.0
220.9
276.1
20, 549
11, 270
1,532
865
1,534 4 1, 860
845 * 1, 070
1,239
614
1 827 4 2 211
877 * 1, 167
i 693. 1
770.7
64.4
206
217
96. 6
49.5
5 109. 3
51.9
37, 028
2, 094
1,950
i 2,342. 3
'211.7
181.0
7, 133. 7
4, 421. 5
219.7
602. 5
332.8
3, 022. 5
22, 566
11, 794
8
64.5
69.5
51.8
63.5
6
9.9
4.2
5
9.8
5.6
5
9. 5
5.3
69 3
71 2
236
61 1
69 7
210
213
8
8. 8
4.8
8
8.0
3.8
8
10 3
4 0
' 62 7 '59.6
4
8
10. 3
4 4
8
81
3.6
8
88
35
5
81
4 8
fi
8 7
38
8
9.7
6.0
59.4
3.6
817
22
'761
57
PETROLEUM, COAL, AND PRODUCTS
COAL
ite:
ction.
_ _ thous. sh. tons
1,038
880
11, 461 10, 800
926
ts _
do
627
76
59
518
39
wholesale, chestnut, f.o.b. car at mine
$ persh. ton__ 13.813 15. 100 14. 708 14. 220 14. 220
lous:
ction
thous. sh. tons__ 545, 245 '556,049 46,860 49,313 43,877
r
Revised.
1
Revised
total
or
year-end stock; 4monthly revisions are not available.
2
Total for 11 months.
3 pOr month shown.
Data cover 5 weeks; other periods,
4 weeks.
s Excludes orders for motors
1-20 hp.; domestic sales of this class in 1969 totaled
6
$117.2 mil.; 1970—Apr., $8.8 mil.
Revised data (1967-68) are in the Apr. 1970 SURVEY.
807
47
952
111
873
41
866
70
736
63
891
70
811
16
14. 778
14. 778
15. 268
15. 268
15. 758
16. 248
16. 346
773
17
820
35,700 47,944 48,788 53,532 45,337 50,666 '45,515 '45,890 '50,755 '49,330 48, 890
ORadio production comprises table, portable battery, auto, and clock models; television
sets cover monochrome and color units.
SURVEY OF CURRENT BUSINESS
June 1970
1968
Unless otherwise stated in footnotes below, data
through 1968 and descriptive notes are as shown
in the 1969 edition of BUSINESS STATISTICS
1969
1969
Apr.
Annual
S-35
June
May
July
Aug.
1970
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
PETROLEUM, COAL, AND PRODUCTS—Continued
COAL— Continued
Bituminous— Continued
Industrial consumption and retail deliveries,
total 9
. _
thous. sh. tons
Electric power utilities
do
Mfg. and mining industries, total
do
Coke plants (oven and beehive)
do
498, 830
294, 739
188, 450
90, 765
r
39, 467
24, 391
14,710
7,743
42, 074
27, 173
14, 418
7,833
41, 828 ' 39,646 ' 41,742
26, 794 24,544 25, 226
14, 456 ' 14,315 ' 15,397
7,840
7,714 r 8, 092
894
52, 768 r 49,944
49, 549
7,712
7,796
8, 390
4,843
3,984
4,343
5,309
6, 057
6.470
8.086
6.514
8.207
6.526
8.393
69
5,552
1,795
63
5,333
1,827
81
5,570
1,881
69
5,332
1,856
61
5,069
1,643
64
5,978
1,696
63
5,807
3,699
3, 553
146
1,131
100
3,430
3,309
121
1,225
123
3,320
3,202
119
1,237
146
3,120
3,020
99
1,040
164
3,032
2,946
86
1,187
89
3,034
2, 969
65
1,173
152
3,088
3,025
63
1,077
141
3,100
3,043
55
1,107
3.21
324.4
92
1,217
3.21
325.8
90
1,080
3.21
321.6
92
3.21
342.5
94
3.21
336. 9
93
304.8
93
335. 9
93
78,769
59, 046
19, 502
7,338
83, 545
62, 328
20, 996
8,376
84,662
63, 433
21, 018
8,807
81,779
60,597
19, 701
8,962
173
221
221
211
184
4,836
4,927
4,882
5,496
5,751
5.932
7.081
6.068
7.343
6.068
7.414
6.068
7.529
6.342
7.836
53
5, 523
1,689
53
5,347
1,771
47
5,387
1,811
70
5,412
1,752
76
5,274
1,734
4,507
4,310
197
1,309
148
4,162
3,969
193
1,318
130
3,896
3,729
167
1,382
178
3,787
3,594
193
1,314
181
3,816
3,629
186
1, 235
121
3.18
3, 880. 1
92
1,094
3.21
312.1
92
1,036
3.21
326.2
90
1,277
3.21
324.7
92
1,091
3.21
339. 2
94
1,261
3.21
334. 9
92
374
335
442
538
748
85, 525
64, 168
21, 169
9,537
81, 779
60, 597
19,701
8,962
77, 054
58,267
18, 699
8,001
82, 084
62, 097
19,875
8,743
82, 763
62,297
20, 316
8,822
74, 397
56,758
17, 480
6,470
75, 128
56, 975
17, 980
6,618
188
184
88
112
150
159
50, 637
56, 234
4,503
6,010
5,712
5,397
6.944
6. 052
7.487
5.847
6.988
5.897
6.988
775
62, 878
19, 038
710
64,014
20, 574
60
5,312
1,674
5, 985
5, 637
348
1,239
792
3,120
3,020
99
1, 040
1,629
number
14,426
$ per bbl
3.06
mil. bbl— 3, 774. 4
% of capacity93
Retail dealers
do
Exports
do
Prices, wholesale:
Screenings, indust. use, f.o.b. mine
$ per sh. ton..
Domestic, large sizes, f.o.b. mine
do
T
thous. sh. tons..
do
do
do
do
do
do
do
44,064
26, 668
16, 502
8, 582
1,235
1,390
530
Stocks, industrial and retail dealers', end of period,
total
_
_
thous. sh. tons
Electric power utilities
_
do.
Mfg. and mining industries, totaL
do
Oven-coke plants
._
do
r
1,122
' 12, 665
do
r 42,421 ' 47, 197 '48,268 r 42,416
r 25,735
28, 957 30, 167 26, 121
' 15,529 ' 16, 837r 16,367 15, 060
7,356
' 7, 769 8,154 7,772
1, 074
15, 224
Retail deliveries to other consumers
COKE
Production:
Beehive
Oven (byproduct) _ _ _ _ _ _
Petroleum coke§
Stocks, end of period:
Oven-coke plants, totalAt furnace plants
_
At merchant plants. _ _ _ _
Petroleum coke
Exports
_ _
_ _
' 507,275 ' 38,611 39,004
' 380, 462 r 22, 383 r 23, 142
r 185, 835 r15,670 15,453
7,954
' 92, 901 7, 678
1,734
212
PETROLEUM AND PRODUCTS
Crude petroleum:
Oil wells completed
Price at wells (Oklahoma)
Runs to stills..
Refinery operating ratio
_ _
All oils, supply, demand, and stocks:
New supply, total d"
Production:
Crude petroleum
Natural-gas plant liquids
Imports:
Crude and unfinished oils
Refmed products
mil. bbl__ 4, 922. 1
5, 102. 8
418.4
429.2
417.3
424.6
424.0
420.0
429.5
421.6
465.4
463.8
430.2
470.5
276. 5
47.6
289.3
49.3
288.3
47.2
287.2
48.7
280. 7
49.0
278.2
47.4
284.8
50.1
279.6
49.4
294. 8
52.0
293.5
51.0
267. 7
47.7
294. 5
52.3
46.1
48.2
46.6
44.0
43.8
38,0
46,0
42.8
48.4
45.9
46.4
48.0
47.8
46.8
47.5
45.0
53.1
65.6
47.7
71.6
44.3
70.5
50.3
73.3
-20.8
do.
do
3, 329. 0
553.7
3, 363. 8
584.5
do._
do
501.7
537.7
551. 9
602. 7
55.5
-17.4
Change in stocks, all oils (decrease,—)
do
17.4
28.9
25.8
18.2
10.2
9.3
5.5
-4.7
-33.2
-52.3
Demand, total
Exports:
Crude petroleum,
Refined products
Domestic demand, total Q
Gasoline
Kerosene
do
4, 873. 8 5, 126. 4
402.9
402.0
390.9
409. 0
414.2
410.3
422.6
426.0
499.4
518 5
450
f)
472 4
do._
do
do
do
do
1.4
1.8
83.9
82.7
4, 789. 2 5,041.0
1, 956. 0 2, 042. 5
100.4
102.9
900.1
874.5
721.9
668.2
361.5
349.4
.1
6.7
396.1
168.6
5.8
.2
7.6
394,2
177.6
5.5
(*)
7.5
383.4
173.1
4.5
0
6.5
402.5
188.4
5.6
.1
8.5
405. 6
185.0
5.2
.1
7.6
402.6
171.0
7.3
.2
7.0
415.5
177.2
7.1
2
419.0
163.6
9.3
.1
7.0
492. 3
174. 5
12.6
.1
6.7
511.7
164.0
16.6
7.2
443.0
151.0
11.7
7^2
465.1
173.4
8.9
66.9
58.6
28.8
58.7
51.8
29.9
51.6
47.5
31.6
49.9
48.4
31.9
50 8
51.3
31.3
58.2
54.5
31.1
62.4
58.6
28.1
82.9
55.5
29.5
112.0
77.1
33.1
127.2
89.7
28.8
96.8
82.2
28.7
95.8
87.3
28.2
4.3
18.4
30.4
4.1
19.1
32.4
4.1
19.2
33.3
4.6
16.7
39.1
3.7
9.8
43.0
3.9
6.7
48.1
4.1
4.4
54.8
.*
41.6
4.1
6.3 —
38 9
907. 1
e!s
-1.0
Distillate fuel oil
Residual fuel oil
Jet fuel
do
do
do
Lubricants
Asphalt
Liquefied gases
do
do
do
48.5
141.2
385.7
48.7
143.3
445.6
4.2
9.3
31.6
4.4
13.5
29.1
4.1
17.0
29.4
do
do
do
do
999.6
272.2
98.9
628.5
980.1
265.2
103.5
611.4
922. 1
273.2
106.6
542.3
951.0
281.3
111.5
558. 3
976.9
284. 5
110.3
582.0
995. 1 1, 005. 2 1,014.5 1, 020. 0 1, 015. 3
277.5
267.7
262,5
264.3
264.8
108. 7
104.6
104.3
101.4
104.3
(508. 9
632.9
647.7
651.5
649.1
980.1
265.2
103.5
611.4
927.9
267.1
105.4
555. 4
9fiQ f\
O7,i R
104. 3
533. 2
OZd. / i
1, 940. 0 2, 028. 2
2.5
2 1
217 A
211.5
154. 3
.2
216.6
167.1
.4
207.7
166.0
.2
201. 8
177.8
.3
193. 1
179.6
.3
189.4
174.3
.4
194.3
177.1
.3
195. 0
175. 3
.1
208.4
182.1
.3
217.4
176.5
.1
231.9
157.0
.2
238.8
173.4
.2
240.8
.237
.256
Stocks, end of period, total
Crude petroleum...
_
Unfinished oils, natural gasoline, etc
Refined products
Refined petroleum products:
Gasoline (incl. aviation):
Production
Exports
Stocks, end of period .
do
do
do
Prices (excl. aviation):
Wholesale, ref. (Okla., group 3 K _ _ . $ per gal..
Retail (regular grade, excl. taxes), 55 cities
(1st of following mo.)
$ per gal
Aviation gasoline:
Production
mil. bbl
Exports
do
Stocks, end of period. _.
_
do
Kerosene:
Production
do
Stocks, end of period
do
Price, wholesale, bulk lots (N.Y. Harbor)
$ per gal..
T
Revised.
1
Less than 50 thousand barrels,
c? Includes small amounts of "other hydrocarboiis
.113
.116
.118
.115
.115
.113
.120
.110
.110
.118
.118
.113
.230
.239
.242
.245
.242
.235
. 240
.232
.233
.239
.240
.229 ,
31.6
1.8
7.0
26.5
1.8
6.2
2.0
.1
6.0
2.2
.3
5.5
2.4
.1
5.3
2.6
.2
5.3
2.5
.1
5.5
2.2
.3
5.4
2.3
.2
5.6
2.2
.1
5.8
2.1
.2
6.2
101.6
23.5
102.9
26.8
7.2
20.3
7.1
22.0
7.9
25.3
7.5
27.3
7.6
29.7
7.4
29.9
7.6
30.6
8.0
29.4
9.8
26.8
1.4!
0)
6.3
10.2
20.4
.113
.111
.111
.111
.111
.111
.111
and h}fdrogen r -finery i nput," rlOt
.111
.111 ! .111
.111
.111
shown separately.
9Imeludes da ta not sh own sep£irately,
§Inc ludes norimarketa ble catal yst coke.
':',!
5.9
9.1
18.0
906.2
107. 8
1.6
.1
5.6
9.5
18.5
.248
May
SURVEY OF CURRENT BUSINESS
S-36
Unless otherwise stated in footnotes below, data
through 1968 and descriptive notes are as shown
in the 1969 edition of BUSINESS STATISTICS
1968
1969
1969
Apr.
Annual
June 1970
May
June
July
Aug.
1970
Sept.
Oct.
Nov.
Dec.
Jan
Feb.
Mar.
Apr.
May
PETROLEUM, COAL, AND PRODUCTS—Continued
PETROLEUM AND PRODUCTS— Continued
Refined petroleum products— Continued
Distillate fuel oil:
Production
mil. bbl
Imports
do
Exports
do
Stocks end of period
do
Price, wholesale (N.Y. Harbor, No. 2 fuel)
$ per gal
Residual fuel oil:
Production
mil. bbl
Imports
do
Exports
do
Stocks end of period
do
Price wholesale (Okla No 6)
$ per bbl
71 0
4.3
.1
183 5
68.9
3.5
.1
197.7
70.5
2.3
.1
208 0
72.5
3.4
.1
201.0
76.9
5.9
.1
171.7
. 101
101
101
101
.101
101
101
19.4
29.1
14
62.5
1 45
19.5
32.3
1.1
65.1
1.45
19.2
34.1
15
66.1
1 45
19.5
35.1
1.0
65.6
1 45
19.5
39.0
16
64.2
1 45
21.4
33.8
1.6
62.7
1.45
24.1
51.2
8
58.4
1 45
27 8
28 3
28 2
28 4
29.2
29.9
27 6
30 2
25 1
28 9
26 3
29 3
25.6
29.5
5.5
1.4
13.9
5.7
1.7
13.5
53
1.9
12.8
5.5
1.1
12.8
58
1.7
12.8
54
1.5
12.7
57
12
12 5
270
270
.270
.270
.270
.270
270
135.5
20.1
135 7
16 8
10.2
28.4
12.9
28.3
14.3
26.1
15.2
23.4
14 9
19.5
Liquefied gases (incl. ethane and ethylene):
Production total
mil bbl
At gas processing plants (L.P.G )
do
At refineries (L.R..G.)
do
Stocks (at plants and refineries)
do
469.3
351.3
118.1
76.2
502 0
378 5
123 5
59 6
41.4
31.1
10.2
57.2
42.7
31.9
10.8
65.6
40.8
30.1
10.7
72.5
41.7
30.4
11.3
78.5
Asphalt and tar products, shipments:
Asphalt roofing total
thous. squares
Roll roofing and cap sheet
do
Shingles, all types
do
78 045
31 099
46, 946
82 683
34 037
48, 646
6,136
2,473
3,663
7 322
2,804
4,518
8 082
3,138
4,944
418
411
875
368
346
901
26
34
73
33
34
78
32
40
83
Jet fuel (military grade only) :
Production
Stocks end of period
840.7
48.1
1.5
173.2
848 4
50.9
1.3
171 7
66.7
3.5
.1
99.8
67.3
2.6
.1
110.9
71.3
2.2
.2
132 6
103
101
101
101
101
275.8
409.9
20 0
67.4
1 40
265 9
461.6
16 9
58.4
1 48
23.6
38.8
1.1
60.2
1 45
21.2
34.2
1.7
62.6
1 45
314.9
24 3
321 7
9g 1
27 5
26.8
65 7
18.0
14.0
65 1
16 4
14 1
.270
mil bbl
do
mil bbl
do
Lubricants:
Production
do
Exports
do
Stocks end of period
do
Price, wholesale, bright stock (midcontinent,
f o b Tulsa)
$ per gal
Asphalt:
Production
Stocks end of period
Asphalt siding
Insulated siding.
Saturated felts
do
do
thous. sh tons
79.5
6.9
71.9
5.7
.1
111 5
77. 7
7.6
.1
101.0
26.0
56.0
15
49.5
1 65
23 9
56.5
2 1
46 1
23.6
58.5
1.1
40.3
27 7
28 1
23 9
27 1
24 0
26 4
26 4
27 2
5.8
1.1
13.6
57
1.4
14.1
55
1.3
14.3
4 7
1l
14 5
55
17
14.1
270
.270
270
270
15 1
16.1
13 5
13 2
10.4
14.0
9 0
16.8
68
19.5
6 7
21 6
9 3
24 8
42.1
30.9
11.1
82.4
40.7
30.4
10.3
83 6
42 8
32.6
10.2
79 9
42.3
32.4
9.9
71.5
44 7
34.5
10.2
59 6
44.6
33.9
10.7
42.4
41 9
31 6
10.3
37 0
45 3
34 8
10.6
37 6
7,922
3,086
4,836
8,185
3,249
4,936
8 871
3 565
5 306
8 850
3 630
5 221
7 060
3 154
3 905
5 463
2 589
2 874
3 387
1*708
1 679
31
35
76
34
40
80
42
27
85
39
50
84
30
23
73
22
17
68
20
7
51
73.6
2.8
.1
159.1
(2)
130.7
3 447 r 5 143
1 566 r 2 350
1 882 2 793
6,464
2,663
3,801
16
13
45
20
24
61
24
22
73
PULP, PAPER, AND PAPER PRODUCTS
PULPWOOD AND WASTE PAPER
Pulpwood:
Receipts...
Consumption. _ _
Stocks, end of period
Waste paper:
Consumption
Stocks, end of period
i 59, 041
i 59, 788
"5, 676
62, 276
62, 813
4,788
4,845
5,050
4,092
4,967
5,320
3,771
5,258
5,413
3,597
5,224
5,078
3,770
5,466
5,405
3,949
5, 580
5, 179
4, 241
5,824
5,547
4,537
5,255
5,427
4,521
5,274
5,025
4,783
5,044
5,449
4,432
5,273
5,177
4,397
5,813
5,593
4,715
5,611
5,536
4,811
10, 285
586
10, 441
608
903
585
915
574
883
577
792
608
909
581
883
586
908
608
818
598
780
608
838
569
805
572
868
569
869
561
WOODPULP
Production:
Total, all grades
thous. sh. tons.. i 39, 400
Dissolving and special alpha
do
1 1, 679
Sulfate.
do
i 125, 505
Sulfite
do
2, 431
41, 057
1,701
27, 628
2,337
3,433
124
2,344
189
3,603
144
2,456
199
3,536
151
2,397
196
3,329
127
2,273
181
3,558
156
2,420
198
3, 379
133
2, 280
191
3,647
150
2,482
210
3,594
141
2,456
192
3,263
131
2,180
197
3,560
154
2,422
194
3,425
139
2,332
187
3,587
145
2,445
201
3,579
142
2,431
208
do
do
do
i 4, 470
i 1, 625
i 3, 690
4,241
1,585
3,564
347
129
298
363
135
305
362
135
295
338
132
277
358
133
292
345
132
297
368
131
306
359
135
310
341
128
286
359
127
303
353
129
284
362
131
303
366
134
298
do
do
do
do
870
358
426
86
796
230
469
99
862
336
442
84
840
327
430
83
857
344
433
80
802
284
443
75
790
286
432
72
780
293
418
70
787
284
431
72
839
321
440
77
796
230
469
99
812
294
440
79
811
284
457
76
823
275
do
___ do
do
1,902
671
1,231
i 2, 103
1744
11,359
178
74
104
212
70
142
171
61
111
207
62
145
196
79
118
148
68
80
191
60
132
182
63
119
220
72
148
200
63
137
3,540
302
3,238
14,040
1298
1 3, 743
355
27
328
331
23
308
349
27
322
338
26
312
307
18
289
320
22
299
400
30
370
356
24
332
358
35
323
50, 703
22, 091
24, 267
155
4,190
53, 488
23, 460
25, 561
133
4,333
4,508
1,955
2,156
12
385
4,597
1,974
2,221
12
390
4,535
1,968
2,180
11
376
4,227
1,822
2,029
9
368
4,513
1,976
2,151
11
374
4, 367
1,927
2, 047
11
382
4,711
2,074
2,228
12
397
4,455
1,958
2,150
11
336
50, 207
53, 754
4,618
4,596
4,552
4,185
4,553
4,453
4,709
4,413
101.4
119.6
91.1
92.7
102.7
122.9
94.4
97.1
102.7
121.0
93.5
100.4
102.7
122.1
93.5
100.7
102.7
123.2
93.5
99.4
102.7
102.7
102.7
102.7
102.7
102.7
126.4
123.2
123.2
123.2
126.4
123.2
126.4
96.0
93.7
95.9
96.0
95.8
95.9
96.0
94.4
95.9
95.2
93.4
95.1
93.9
94.6
i R sported a nnual to tal; revis ions not illocated to the m onths.
barrels.
thous. cords (128 cu. ft.)
do
do
thous. sh. tons._
do
Groundwood
__
Defibrated or exploded
Soda, semichem., screenings, etc
Stocks, end of period:
Total, all mills
..
Pulp mills.
Paper and board mills
Nonpaper mills..
Exports, all grades, total
Dissolving and special alpha
All other.. _ _ __
Imports, all grades, total
Dissolving and special alpha
All other
.
_
do
do
do
74
828
299
456
74
204
70
134
224
80
145
254
81
173
304
24
280
294
21
273
348
25
323
304
24
280
4,253
1,885
2,046
8
314
4,586
2,036
2,237
10
304
4,264
1,893
2,057
9
304
r 4, 532
r 2, 047
p4, 609
v2, 064
v2, 183
pl3
P347
4,238
p 4, 532
r474
PAPER AND PAPER PRODUCTS
Paper and board:
Production (Bu. of the Census) :
All grades, total, unadjusted. __thous. sh. tons,_
Paper..
do
Paperboard..
do
Wet-machine board
do
Construction paper and board
do
New orders (American Paper Institute) :
All grades, paper and board
.
do
Wholesale price indexes:
Printing paper
1957-59-100
Book paper, A grade
do
Paperboard
do
Building paper and board
do
r
v
Revised .
Preliminary.
r 2, 142
11
'332
2
Less than 50 thousand
SURVEY OF CUERENT BUSINESS
June 19TO
1968
Unless otherwise stated in footnotes below, data
through 1968 and descriptive notes are as shown
in the 1969 edition of BUSINESS STATISTICS
1970
1969
1 1969
Annual
S-37
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
PULP, PAPER, AND PAPER PRODUCTS—Continued
PAPER AND PAPER PRODUCTS— Con.
Selected types of paper (API):
Fine paper:
Orders new
2 880
22?
3 156
273
271
259
279
260
264
279
240
261
257
264
244
264
288
271
257
264
255
273
p259
do
2,864
2 831
3,096
3 095
258
258
262
263
265
264
237
238
256
257
252
251
282
282
259
259
257
256
*>265
P265
6 865
502
6 945
479
585
555
599
531
573
551
543
512
578
523
555
516
622
529
579
554
539
479
P604
do
do
do
6 737
6 737
7 061
7 061
596
596
586
586
585
585
547
547
590
590
582
587
626
626
601
601
588
588
i>600
p600
do
do
5 012
264
5 119
245
416
261
418
253
434
283
403
247
440
269
414
264
433
255
399
254
410
245
M53
*274
do
do
4 992
4 931
5 129
5 084
418
414
433
422
434
433
383
390
434
428
429
428
435
431
427
420
398
397
"437
P444
8,031
8 096
203
8,758
8 741
220
690
684
358
748
794
311
720
721
309
726
720
315
751
705
362
706
725
343
794
804
333
760
808
285
730
795
220
749
659
310
692
646
357
750
704
402
752
701
452
2 935
2 946
27
3 232
3 233
27
267
264
47
280
271
55
275
277
53
249
251
51
271
259
63
255
257
62
288
291
58
279
290
46
255
275
27
279
261
45
258
247
55
273
278
51
274
274
51
7 025
7 344
616
661
607
550
582
606
666
682
631
563
539
617
624
633
699
662
678
647
681
683
676
686
665
699
737
743
710
704
6 462
6,790
567
532
601
604
539
606
614
571
625
545
497
568
563
141. 40
146. 10
146. 10
146. 10
146. 10
146. 10
146. 10
146. 10
146. 10
146. 10
146. 10
150. 50
454
869
480
479
939
510
523
1,042
509
534
1,032
534
528
1,035
529
464
1,048
463
504
963
514
506
963
489
542
1,004
524
526
965
523
479
939
554
509
975
522
521
855
521
515
805
514
497
770
508
512
749
511
Paper products:
Shipping containers, corrugated and solid fiber,
shipments.
mil. sq. ft. surf, area '173,814 ' 185, 536 '15,825 '16,104 ' 14, 906 '14,827 ' 15, 546 ' 16, 725 '17,959 '14,321 ' 14, 535 14, 469
14, 152
15, 233
15, 370
15,021
thous sh tons
Production
Printing paper:
O H
' nfillod pnrl of nprinrl
Production
Shipments
Coarse paper:
Orders new
Orders unfilled end of period
Production
Shipments
Newsprint:
Canada:
Production
Shipments from mills
Stocks at mills end of period
__ _
United States:
Production
Shipments from mills
Stocks at mills end of period
_ do _ do
do
do
do
do
Consumption by publisherscf
do
Stocks at and in transit to publishers, end of
period
thous. sh. tons
Imports
do
Price, rolls, contract, f.o.b. mill, freight allowed
or delivered
$ per sh ton
Paperboard (American Paper Institute) :
Orders, new (weekly avg.)
thous. sh. tons__
Orders, unfilled §.
do
Production, total (weekly avg.)
do _
Folding paper boxes, shipments, index of physical
volume
1947-19=100--
138.0
140.8
139.9
141.9
137.9
137.5
142.4
145.4
156.8
132.7
149.5 ' 135. 4
125.6 ' 144. 0 v 135. 5
RUBBER AND RUBBER PRODUCTS
RUBBER
Natural rubber:
Consumption
.
thous. Ig tons
Stocks, end of period
do
Imports, incl. latex and guayule
do .
Price, wholesale, smoked sheets (N.Y.)__$ per lb_Synthetic rubber:
Production,. _. _
Consumption
Stocks, end of period
thous Ig tons
do
_
do
Exports (Bu. of Census)
Reclaimed rubber:
Production
Consumption
_
Stocks, end of period.
.
1
581. 86
107. 76
540. 17
589. 78
105. 97
585. 28
49.29
107. 43
54.39
50.54
108. 52
48.90
49.54
107. 35
46.66
43.89
104. 91
40.84
46 29
104. 45
55.19
51.73
107. 41
49.49
54.80
104. 49
59.45
47.64
103. 06
49.26
49 24
105. 97
50.51
.198
.262
.270
.260
.268
.285
.314
.279
.265
.250
.238
2,250 16 186 20
2,003.02 163.34
438. 74 401. 22
191 42
165. 94
407. 01
183 78
168 46
413 .46
179 34
147. 88
420. 86
182 09
157 45
428. 41
190 25
176 32
423. 78
200 93
187 88
417. 14
187 84
162 37
424. 39
198 57
166 ?8
438. 74
2 131 10
1,896.15
369. 98
49.98 ' 48. 27 49.55
104. 91 ' 98. 58 94.76
56.82
59.03
44.05
.251
.223
193 11 '178 91
169 07 '166 69
434. 37 '436.75
186 78
177 02
432. 34
.255
do
291. 03
226 49
25.03
23 22
21.60
18.32
23 65
21 68
24 44
20 32
23 11
23 36
do
do
do
257. 22
250 43
29.58
238 26
243 04
29.74
21.69
20 74
31.78
19 74
20 80
30.59
20 16
22 38
30.78
18 06
17 00
31.43
18 93
17 88
31.73
19 27
19 87
31.15
21 31
23 02
29 90
17 16
17 76
31.08
17 89
19 35
29 74
18 77 r Ig 38
18 38
17 54 ' 17 49 18 46
30.46 ' 30 51 28 16
23 68
22 27
45.66
.221
.218
26 14
TIRES AND TUBES
Pneumatic casings, automotive:
Production
_.
Shipments, total
Original equipment..Replacement equipment
Exports
Stocks, end of period
Exports (Bu. of Census)
Inner tubes, automotive:
Production., __. _
Shipments
_
Stocks, end of period
Exports (Bu. of Census) _
.
thous
2
17 283
16 882
17 435
15 447
15 829
17 752
19 151
16 738
17 789
18 174
17 522
17 606
do
do
do
do
2
199,155
2
58,392
2
204 777
2 55, 704
137,562 2 146, 650
23,202 2 2 423
20, 046
4,966
14, 860
219
18, 006
4 744
13, 077
185
20 115
5 009
14, 847
259
16 681
2 514
13, 973
194
15 678
3 428
12, 025
224
19 494
5 519
13, 718
258
20 390
5 836
14, 249
305
14 407
4 750
9,519
138
13 746
4 041
9, 505
200
13 895
4 150
9,' 625
120
14 519
3 681
10 651
187
18 908
4 403
14 320
185
do
do
42, 128
2,518
49, 152
2,364
48, 131
191
47, 433
174
45 135
264
44 317
147
44 686
275
43 386
322
42 331
298
44 898
187
49 152
166
53 750
156
57 105
' 90
56 400
150
114
do
do
do.
do
43, 791
41 657
43 957 2 44 860
11,828
11,191
1,390
1 098
3,562
3 600
11, 586
115
3 402
3 458
11, 871
130
3 375
4 041
11, 499
91
3 160
3 929
11, 088
66
3 092
3 495
11, 103
99
3 576
3 826
11,171
111
3 913
4 361
11, 020
83
3 263
3 324
11, 125
79
3 073
3 172
11,191
83
3 384
3 971
10, 811
84
2 918
3 371
10, 754
67
3 336
3 783
10, 393
111
71
203 060 207 826
2
' Revised.
p Preliminary.
1 Revisions for Jan.-Aug. 1968 for synthetic rubber
consumption are as follows (thous. Ig. tons): 162.96; 154.29; 162.07; 155.85; 162 67; 153.44; 135 82i Ki4.33.
55
2 Annual total includes revisions not distributed to the months.
ef As reported by publishers accounting for about 75 percent of total newsprint consumption.
§ Monthly data are averages for the 4-week period ending on Saturday nearest the end of the
month; annual data are as of Dec. 31.
SURVEY OF CURRENT BUSINESS
S-38
Unless otherwise stated in footnotes below, data
through 1968 and descriptive notes are as shown
in the 1969 edition of BUSINESS STATISTICS
1968
June 1970
1969
1969
Apr.
Annual
May
June
July
Aug.
1970
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
20, 039
25, 722
32, 912
May
STONE, CLAY, AND GLASS PRODUCTS
PORTLAND CEMENT
Shipments, finished cement _
-
thous. bbl
34, 646
39, 271
41,012
42, 386
42, 988
43, 086
43, 585
31, 249
25, 984
16, 932
7, 289. 7
241.5
1, 783. 5
693.9
23 8
153.5
705.6
23.3
163.5
698.5
21.3
183.1
699.1
22.1
174.7
669.4
19.0
170.7
654.6
18.2
177.8
686.3
20.4
167.6
529.6
18.8
136.0
453.9
17.1
118.6
300.4
15.9
91.9
209.0
17.8
17.7
18.4
18.9
16.9
17.8
19.4
15.4
16.6
11.5
10.7
12.9
284.8
25 1
25.5
26.2
23.8
24.0
23.8
25 0
20.5
21.3
19.2
' 19.4
22 8
122.3
122.2
122 A
122.6
122.7
122.7
123.2
123.2
123.5
123.5
124.8
1 397, 448 1409, 564
CLAY CONSTRUCTION PRODUCTS
Shipments:
Brick, unglazed (common and face)
7, 556. 8
mil standard brick
192.5
Structural tile, except facing
thous. sh. tons
1, 705. 5
Sewer pipe and fittings, vitrified . _ _
do_
Facing tile (hollow) , glazed and unglazed
220.6
mil. brick equivalent
Floor and wall tile and accessories, glazed and un274 5
glazed
mil sq ft
Price index, brick (common), f.o.b. plant or
N.Y. dock..
1957-59=100-117.1
r
385. 6
14.8
'96.3
548.7
17.7
140.6
GLASS AND GLASS PRODUCTS
Flat glass, mfrs ' shipments
thous $
387, 469
416 905
101,002
98 425
108, 338
do
do
139 391
248 078
150 123
266 782
36, 998
64,004
36 385
62 040
37 180
71, 158
Sheet (window) plass, shipments
Plate and other flat glass, shipments
Glass containers:
Production
thous gross
Shipments, domestic, total
do
General-use food:
Narrow-neck food
do
Wide-mouth food (incl. packers' tumblers,
jelly glasses and fruit jars)
thous gross
(6)
259 373
21 056
22453
22 743
21 527
22 362
21 377
22 879
?0 579
19 460
20 824
20 300 '21,927
22 555
(6)
'250 212
20 963
21, 242
22, 246
21, 795
22, 623
22 732
20 627
18, 554
22 151
17 913
18, 570
24, 705
20, 110
(6)
24 172
(6)
r
1 882
1 876
1, 970
2 055
2,590
2 817
1 919
1 557
1 737
1 705
1,877
2,014
1 927
'57 828 T 4 588
4 580
4 745
4 702
5 269
5 333
5 361
4 595
5 095
4 372
4 331
5,141
4 200
Beverage
Beer bottles
Liquor and wine
do
do
do
(«)
(6)
(6)
55 848
51 086
20 324
4 665
4 586
1 743
5 098
4 573
1 598
5,952
4 359
1,823
5,400
5 114
1 594
4,841
4 927
1 668
4 561
4 747
1 840
4 093
3 922
1 853
4 142
3 434
1 607
6 030
4 073
1 710
3 990
3 192
1 524
4,221
3 499
1,479
6,342
5 415
2,097
4,839
4 407
1 685
Medicinal and toilet
.
Chemical, household and industrial
Dairy products
_
do _do
do
(6)
(6)
(6)
35, 916
4, 455
583
3 075
*379
45
3,103
366
48
2,983
366
48
2,556
330
44
2,902
381
45
3,020
366
48
3 038
397
44
2,884
289
46
3 075
381
50
2 843
254
33
2,806
329
28
3,237
428
31
2, 705
320
27
23 518
30, 167
30 700
31 680
31,962
31,470
30 960
29 275
31 263
33 051
30 167
33 032
34, 381 '31 313
33, 536
5,454
10 018
' 5, 858
'9,881
' 1, 457
' 2, 573
'• 1, 876
'• 2 697
T
1, 497
T 2 448
1,205
2,181
' 2, 410
'• 2 407
r 2 218
2 000
' 1 507
'82
'• 1 318
T 77
' 1 162
' 78
702
76
105
108
140
Stocks, end of period
do
GYPSUM AND PRODUCTS (QTRLY)
Crude gypsum, total:
Imports, ___
Production
_
thous. sh. tons_.
_ . do
Calcined, production, total
-
Gypsum products sold or used, total:
Uncalcined uses
Industrial uses_
_
_ ._
Building uses:
Plasters:
Base-coat
_
All other (incl. Keene's cement)
Lath
Wallboard-..A l l other.
. _ _ _ . _
do _
8 844
r
do
do
4 935
301
' 4 681
'316
536
778
••473
r
702
'917
. do .
do
mil sq ft
do
_
do
999
8,283
269
9 324
127
' 179
r
' 9, 090
275
r
r
250
2,r385
79
124
195
T
r
235
'• 2, 359
70
163
184
1,899
46
r 212
r 2, r 213
59
TEXTILE PRODUCTS
WOVEN FABRICS
Woven fabrics (gray goods), weaving mills:J
Production, total 9
mil. linear yd-Cotton
do
Manmade
fiber
do
Stocks, total, end of period 9 d"
Cotton
Manmade
fiber
do_.
do..
do.
Orders, unfilled, total, end of period9 If.__do
Cotton
do
Manmade
fiber
do
2
983
2
526
2 440
986
552
420
965
533
419
652
1 360
671
674
1 372
691
668
3 170
1 617
1,470
3 139
1,634
1,420
80
12, 906 21,229
2,693
r
2
408
7, 159
693
2 513
) 052 5 546
1,018
1,008
588
413
561
432
366
739
611
1 404
659
730
1 249
630
603
1 275
1 333
'669
098
,627
,384
2 779
1,535
1,165
3 141
1 625
1,413
3 138
1 601
1,443
651
610
2
2
1,175
2
650
2 509
948
522
410
' 9582 1,
192
2
632
527
2
'414
539
1 231
2 (572
2 544
979
543
423
1 376
674
689
1 343
663
668
1 335
639
682
1 404
659
730
1 401 r i 417
658
655
729
'743
1 386
622
746
3 024
1 593
1 358
2 902
1 496
1 333
2 847
1 500
1 275
2 838
1 498
1 265
2 779
1 535
1 165
2 679 2 620
1 483 1,451
1 112 ' 1, 090
2 511
1 396
1,048
528
1 610
5 789
8 300 39 107 * 9 826
COTTON
Cotton (excluding linters):
Production:
GinningsA
thous. running bales..
),917
9,943
Crop estimate, equivalent 500-lb. bales
thous. bales..
),948
10, 014
Consumption
_ do _
644
2792
8,294
656
5,568
Stocks in the United States, total, end of period
thous. bales..
12 236
7 469
I 978
8 303
9 318
Domestic cotton, total
do
12 219
7 436
I 926
8 269
Q 278
On farms and in transit
do
1 294
506
548
678
538
Public storage and compresses
do
5,203
?,807
9,653 6,762
5,925
Consuming establishments
do
1,728
1,571
1,272
1,838
1,805
Foreign cotton,total
do
52
40
17
34
33
T
2
Eevised.
1 Reported annual total; revisions
not allocated to the months.
Data
3
cover
5 weeks; other months, 4 weeks.
Ginnings to Dec. 13. * Ginnings to Jan. 16.
5
Crop for the year 1969.
» Data not available owing to lack of complete reports from
the industry.
9 Includes data not shown separately.
tEffective Aug. 1969 SURVEY, data (1964-Apr. 1969) reflect adjustments to new benchmarks; see Bureau of Census reports: Woven Fabrics (1964-68), Series M22A-Supplement
and (Jan-Apr. 1969), M22A (69) 1-4 Supplement.
2
649
629
634
2
810
646
2
717
635
5 9, 943
s 10, 014
626 '2780
616
613
6 520 15 612 14 844 13 883 13 123 12 236 11 224 10 452 ' 9 081
6 489 15 579 14 820 13 861 13 105 12 219 11 208 10 431 ' 9 062
982
485
400 9 874 9 000 5 292 2 928 1 294 1 040
4', 526
9,653 8,832 7,977 7,008 6,160 5,352
7,526 9,079
4,466 4,258
1,529
1,460 ' 1, 569 1,582
1,447
1,623
1,294
1,272
1,336
1,043
1,098
20
23
19
21
31
21
17
16
33
23
19
d" Stocks (owned by weaving mills and billed and held for others) exclude bedsheeting,
toweling, and blanketing, and billed and held stocks of denims.
^Unfilled orders cover wool apparel (including polyester-wool) finished fabrics; production
and stocks exclude figures for such finished fabrics. Orders also exclude bedsheeting, toweling,
and blanketing.
ATotal ginnings to end of month indicated, except as noted.
SURVEY OF CUKRENT BUSINESS
June 1970
Unless otherwise stated in footnotes below, data
through 1968 and descriptive notes are as shown
in the 1969 edition of BUSINESS STATISTICS
1968
1970
1969
[ 1969
Annual
S-39
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Apr.
Mar.
May
TEXTILE PRODUCTS—Continued
COTTON— Continued
Cotton (excluding llnters)— Continued
Exports
thous. bales
Imports
do
Price (farm), American upland
cents per lb._.
Price, middling I", avg. 12 markets .__ ._ do. __
COTTON MANUFACTURES
Spindle activity (cotton system spindles) :
Active spindles, last working day, total
Consuming 100 percent cotton
Spindle hours operated, all fibers, total
Average per working day
Consuming 100 percent cotton
mil-do
bil_.
do
do
Cotton yarn price 36/2 combed knit
$ per Ib
Cotton cloth:
Cotton broadwoven goods over 12" in width:
Production (qtrly )
mil lin yd
Orders, unfilled, end of period, as compared with
avg weekly production
No weeks' prod
Inventories, end of period, as compared with
Ratio of stocks to unfilled orders (at cotton
mills) end of period seasonally adjusted
Exports raw cotton equiv
Imports raw cotton equiv
thous bales
do
Mill margins:
Carded yarn cloth average
cents per lb-_
Com bed yarn cloth average
do __
Blends (65% polyester 35% cotton)
do
Prices, wholesale:
Print cloth 39 inch 68 x 72 cents per yard
Sheeting class B 40-inch 48 x 44-48
do
3
3,870
95
2,397
46
568
5
363
6
194
3
278
1
147
1
141
4
167
13
123
6
176
1
382
3
325
8
246
4
308
7
122.0
122.9
720.8
721.9
20.7
22.0
20.1
21.9
21.3
21.9
21.6
21.9
20.5
21.6
19.4
21.4
21.7
21.7
21.4
21.9
20.0
22.0
19.1
22.0
20.2
22.1
20.7
22.2
21 A
22 A
22.1
22.6
20.0
13.1
128.0
.493
85.9
19.6
12.4
125.6
.476
80.9
19.9
13.0
.486
38.0
20.0
13.1
10.0
.501
6.5
19.9
13.0
9.8
.490
6.4
19.9
12.9
210.2
.406
26.4
19.8
12.8
9.6
.480
6.2
19.7
12.7
9.6
.480
6.1
19.7
12.6
12.1
.483
27.7
19.7
12.6
9.5
.475
6.0
19.6
12.4
210.6
.424
26.7
19.6
12.4
9.4
.470
5.9
19.5
12.2
9.3
.466
19.5
12.2
312.1
19.3
12.1
8.9
.447
19.1
11.9
8.9
.446
1.049
1.027
1.027
1.027
1.024
1.024
1.024
1.027
1.027
1.024
1.024
1.021
7,476
6,975
13 8
15.0
13 2
12 3
13.0
17.5
12 9
12.7
12.8
13.1
15.0
53
6 0
51
50
5 2
6 8
53
54
5.4
5.1
6.0
40
.42
39
40
.39
.38
40
.41
.42
.39
256 0
559. 6
331.1
573.4
29 6
71.8
33 5
47.4
28.2
63.5
23 7
45.5
27 1
57.2
26.3
45.2
30.1
43.2
43.27
37.73
93. 25 * 108. 02
59.16
64.40
42.71
108. 08
58.70
42.73
108. 30
60.94
42.81
107. 28
59.60
43.02
106. 90
60.22
43.51
107. 42
60 03
44.03
107. 60
59.52
18.7
18 5
18.4
19.0
18.4
19.0
18.4
19 0
18 5
19 0
18 8
19.0
17.3
18.6
1,810
MANMADE FIBERS AND MANUFACTURES
Fiber production, qtrly. total
mil. l b _ _ 5, 159. 5 r 5, 520.2
774.4
805 2
Filament varn (rayon and acetate)
do
758.8
739.1
Staple incl tow (rayon)
do
Noncellulosic, except textile glass:
1 662.1 1, 766. 9
Yarn and monofilaments
do
1, 550. 4 1, 718. 7
Staple incl tow
do
402.7 r 501. 4
Textile glass
fiber
do
Fxports' Yarns and monofilaments
Staple tow, and tops
Staple tow and tops
Stocks, producers', end of period:
Filament yarn (rayon and acetate)
Staple, incl. tow (rayon)
Noncellulosic fiber, except textile glass:
Yarn and monofilaments
Staple incl tow
Textile glass
fiber
2
5.8
' .459
'27.2
13.0
12 7
12 8
13 2
5.6
55
5 5
5 5
.42
.43
45
44
43
39.1
48.9
34.9
44.0
28.2
52.7
23 i
49 9
29 1
52 0
28 0
40 7
44.06
107. 46
60.36
43.96
107. 87
60.71
43.92
109.01
61.02
43.92
108. 81
61.11
43.86
108.00
60 43
43.79
106.81
43.65
105.11
19.0
19.3
18.5
18.5
19.0
18.5
19.3
1,380. 8
191.3
191.8
1,403. 4
195.8
189.1
'1,368.6
183.9
187.5
1, 379. 6
181 7
171 7
445.1
430.8
121.8
445.3
443.3
129.9
435. 1
422.1
r 140. 0
446 3
452 0
127 9
100, 539
127, 484
41 063
159 404
mil Ib
do
59.4
59.0
78.4
75.6
68.8
54.5
80.5
56.2
78.4
75.6
do
do
do
194.3
210 9
47.3
259.8
247.6
'70.6
248 1
223 6
51.5
263.2
249 2
56 9
259.8
247.6
'70.6
.61
.85
.61
.89
do
Prices, manmade fibers, f.o.b. producing plant:
Staple: Polyester, 1.5 denier
$ per lb._
Yarn: Rayon (viscose), 150 denier.
do
Acrylic (spun), knitting, 2/20, 3-6D..do
Manmade fiber and silk broadwoven fabrics:
Production (qtrly.), total 9
mil. lin. yd-Filamentyarn (100%) fabrics?
do
Chiefly rayon and/or acetate fabrics
do
Chiefly nylon fabrics
do
Spun yarn (100%) fab., exc. blanketing 9 ao
Rayon and/or acetate fabrics and blends
do
Polyester blends with cotton
do
Filament and spun yarn fabrics (combinations
and mixtures)
mil. lin. yd_
9 801
13, 132
3 017
18* 863
9 285
11,878
2 335
15 857
.61
.89
.61
.89
1.42
1.43
7 554
10, 983
2 951
18 333
.*61
.89
L43
9 952
8,478
2 178
17 090
9 886
10, 433
4 564
16 946
8 774
11, 122
2 979
12 989
.61
.89
.61
.89
.61
.89
1.42
1.42
1.42
9 230
11 799
1 003
13 997
.61
.89
8 887
11,636
4 533
12 227
.61
.89
8,710
13, 019
5 872
8 726
1.42
5, 203. 6
1, 737. 2
779.8
s 347. 8
2, 749. 4
5,404.5
1, 692. 5
776.4
8 345. 0
2, 959. 2
1,387.5
438.2
199. 1
891.5
761.2
1,257.3
395.0
179.3
82.6
681.2
1, 341. 7
415.7
198.5
78.9
732.4
678.0
1, 751. 9
633.4
1, 890. 7
173.6
474.0
143.8
431.6
134.1
483.6
482.9
517.2
128.0
124.6
134.5
mil. Ib-.
do
. do
do
238.3
91.4
249.4
119.6
219.0
93.8
189.2
95.7
223.5
2
8. 9
22.0
11.3
18.9
18.2
19.2
14.7
Wool prices, raw, clean basis, Boston:
Good French combing and staple:
Graded territory,
fine
$ perlb..
Graded fleece, % blood
do
Australian, 64s, 70s, good topmaking.. __do-_
1.207
.840
1.180
1.221
.862
1.174
1.220
.850
1.195
92 9
WOOL MANUFACTURES
Knitting yarn, worsted, 2/20s-50s/56s, American
system wholesale price
1957-59—100
Wool broadwoven goods, "exc. felts:
Production (qtrly )
mil lin yd
Price (wholesale), suiting, flannel, men's and
bovs'. f.o.b. mill
1957-59=100
91 0
92 6
243 3
227 6
100.9
102.6
16.9
14.2
a 219.5
9.8
14.7
216.1
17.5
7.1
7.5
4.2
7.3
16.4
6.5
12.3
9.3
7.2
1.220
.850
1.195
1.220
.850
1.195
1.220
.850
1.195
1.220
.850
1.195
1.220
.850
1.195
1.218
.850
1.175
1.210
.890
1.089
1.198
.890
1.075
92 6
92 6
92 6
92 3
92 3
92 3
92 g
92 5
9.7
7.0
102.1
102.1
7.7
6.7
103. 0
103.0
12
13
6
14
692
665
755
705
16 113
19 523
14 273
1 1 779
12 483
1^
*ifi4.
43.41
101. 65
8 R74
258 4
OC1
O
78 4
.61
.89
1.41
— —
16.0
58
12.9
2
5.8
6
15.6 ' 2 18. 8
5 7
15 7
18 0
15.6
58
12 3
6.1
6.4
4.7
1.185
1.185
884
865
1 034 6 i 014
1.110
6 1 nin
1.081
865
e i 019
oac
1.070
QQA
1 025
92 5
45 1
48 1
103.0
5.5
80 6
92 0
1.41
23.7
14.0
7.6
2
3
' Revised.
i Season average.
For 5 weeks; other months, 4 weeks.
Average
4
for 6 months,
July-Dec.
Beginning 1969, the average omits two6 cloths previously in5
cluded.
Revised total; revisions not distributed by months.
Beginning Jan. 1970,
quotation refers to Australian wool, 64's, Type 62; comparable prices prior to 1970 are not avail-
1.41
2 218.8
7. 6
15.9
10.8
7.3
66 1
102.1
1.41
9 861
13, 762
5 031
16* 317
.61
.89
1.42
WOOL
Wool consumption, mill (clean basis):
Apparel class
Carpet class
Wool imports, clean yield
Duty-free (carpet class)
5.6
1,733
1,608
96 390
108, 253
5 59 303
217' 707
thous Ib
do
211.5
103.0
103.0
103.0
103.0
able.
7 Season average through Apr. 1970; for farm price, average is for all
8
Omits quantities of chiefly nylon combination fabrics.
9 Includes data not shown separately.
cotton.
SURVEY OF CURRENT BUSINESS
S-40
1968
Unless otherwise stated in footnotes below, data
through 1968 and descriptive notes are as shown
in the 1969 edition of BUSINESS STATISTICS
1969
.Tune 1970
1970
1969
Annual
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
18,900
May
TEXTILE PRODUCTS—Continued
APPAREL
thous. doz. pairs
225, 588
- thous. units
..do
20, 564
3,784
Coats (separate) , dress and sport
do
Trousers (separate) , dress and sport
do
Shirts (woven fabrics) , dress and sport
thous. doz
Work clothing:
Dungarees, waistband overalls, jeans
do..
Shirts
do
TToslerv, shipments
Men's "apparel, cuttings:
Tailored garments:
Suits
Overcoats and topcoats
Women's, misses', juniors' apparel, cuttings:
Coats
thous units
Dresses
do
Suits
do
Blouses and shirts
Skirts
thous. doz
do
r
r
19,211
18, 951
22, 303
20, 771
21, 144
20, 897
24, 166
20,306
17, 631
17, 881
18, 511
19, 267
20, 829
2,905
2,038
7286
1,912
290
1,765
295
1,174
195
1,752
279
1,625
272
1,850
254
1,676
195
1,378
114
1,540
129
1,489
148
1,577
212
14, 237
165, 104
14, 136
167, 360
1,302
14,341
1,234
15, 841
1,136
14, 472
855
13, 023
1,182
14, 798
1,026
14, 040
1,354
14,097
1,102
13, 923
1,052
11, 390
1,036
13, 730
928
13, 890
1,012
15, 201
21, 771
21, 252
7 1, 709
1,770
1,713
1,495
1,694
1,800
2,058
1,875
1,782
1,791
1,985
1,974
7,173
4,470
8,472
3,590
612
295
674
297
709
285
789
247
698
285
800
315
746
345
825
330
728
293
767
287
783
263
505
314
21 592
277 958
8 152
19 859
255 228
5 680
1 247
25 458
319
1 405
22 413
360
1 679
20 614
425
1 707
19 089
541
1,727
20,068
496
1 804
20 391
497
2 107
22 148
501
1 772
18 169
371
1 503
16 850
394
1,712
19, 259
554
1,522
21, 912
573
1,207
22, 979
381
15 293
8 168
14 457
7 694
1 178
662
1 188
576
1 129
598
1 160
830
1 074
738
1 119
683
1 543
722
1 308
500
1 097
443
1,220
643
1,357
'558
1,348
^684
243, 865
TRANSPORTATION EQUIPMENT
AEROSPACE VEHICLES
Orders, new (net), qtrly. total
.
.mil. $
U.S. Government
.
.do
Prime contract
. _
do
Sales (net), receipts, or billings, qtrly. total .-do U.S. Government
__.
.do
27,168
16,577
24,575
25, 592
16, 635
22, 178
14, 706
19 384
24, 793
16, 703
4,401
2,466
3 758
6 339
4 289
Backlog of orders, end of period 9 .
.do
U.S. Government
_ _
_
do
Aircraft (complete) and parts
. _do.__
Engines (aircraft) and parts..
do
Missiles, space vehicle systems, engines, propulsion units, and parts
._
mil. $
Other related operations (conversions, modifications), products, services
mil. $
30,749
16,343
16,608
3,951
28, 298
14, 302
15, 610
3,578
29
14
16
4
5,083
4,337
4 045
r
4 282
4 337
2,834
2,882
2 942
r 2 799
2 882
4 355 1
76 202
1 403.1
3 594 3
60 152
1 239.2
Aircraft (complete) :
Shipments ©
Airframe weight ©_ .
Exports, commercial...
432
978
346
192
5 628
3 725
4 874
6 611
4 547
'•29
284
r
!5 123
16 160
r
3 988
28
14
15
3
298
302
610
578
346 4
6 Oil
116 5
373 5
6 201
89 1
242 2
4 180
72 5
290 2
4 832
83 8
268 6
4 131
93.0
198 7
3 764
36 1
249 6
4 151
107.4
224 7
3 438
71 6
342 6
5 464
143 0
209 6
3 389
156 6
326 4
5 037
159 9
r 341 5
5 971
162 2
429 6
6 946
159 5
876.8
825 2
714 3
676 9
162 5
148 2
861.1
805 2
720 2
678 0
140 8
127 2
940.9
889 6
777 1
740 4
163 8
149 2
617.1
588 5
465 2
446 9
152 0
141 6
473.7
446 5
346.4
329 5
127.3
117.0
907.3 1, 048. 5
995 7
849 9
856.8
751 6
815 6
706 5
191 7
155 7
180 1
143 3
855.2
807 4
682 1
644 0
173 2
163 3
788.7
741 5
624 0
164 7
152 7
719.1
683 5
571 4
545 0
147 7
138 5
689.2
650 8
555 2
528 4
134 1
122 4
776.9
732 2
626 2
594 4
150 7
137 8
807.5
760 9
661 3
627 2
146 2
133 7
333. 45
292. 11
103. 23
28.50
24 10
11.82
33 24
30 20
9.83
27 09
24 84
10.24
16.95
14 95
7.92
10.92
9.48
7.97
35 13
31 39
7.45
34.47
28.30
8.87
32 84
27 92
7.48
30.39
25 96
8.33
18.76
14 64
6.40
19.19
15 44
8.66
18.40
13 98
10.61
35.85
32 16
8.81
1,620.45 1, 846. 72
^00 88
691 15
* 114.65
146. 01
182 77
51 72
12.96
185 26
63 89
14. 61
185 53
68 52
12.65
160. 15
40 99
8.63
120. 38
26 58
9.70
148 65
68 37
11 90
177. 66
76 61
13.94
154 02
70 84
3.86
165. 11
73 25
13.90
177 06
59 19
12.04
167 79
61 35
10.29
177. 07
70 00
9.99
205 72
74 17
9.85
113, 928
75, 148
138, 347
94 808
12, 561
7 910
12 474
7 935
12 606
8 942
11,370
7,941
10, 702
7,554
11 903
8 730
12,359
8 761
10 768
7 754
9,899
6 556
10,004
6 795
9 824 ' 10 253 9,114
6,084
6 547 r 7 237
33, 761
33 332
2,195
1 530
1 754
2,368
2,827
3 651
3 532
3 727
4 039
3 461
3 947
19 403 9 9 446 5 5 876 0
i ggS 8 1 061 6 5 98 3
l
l 775 6 1 888 8 s 174 6
5 889 1
5 io7 9
5 172 8
5 841 9
5
91 7
5 160 9
5815 3
« 90 2
5
169 6
s 718 8
s 95 Q
5 153 8
5 733 4
5 95 i
5 149 i
s 955 g
5 112 6
5 174 4
5 757 5 4 5912 5
5 93' e 4 5101 7
5 146 8 4 5185 0
5 gig i
5 81 8
5 130 9
a 578 4
6 73 8
6
124 4
s 741 i
8 99 8
8 155 2
768 4
5 100 0
5 161 9
do
thous. Ib
mil. $
.
5 699
4,145
5 186
5 796
3,926
MOTOR VEHICLES
Factory sales (from plants in U.S.), total
Domestic
Passenger cars, total
Domestic
Trucks and buses, total
Domestic
... _
thous. . 10, 718. 2 10, 142. 8
do
10 172 2 9 583 6
do .. 8 822.2 8 223.7
do
8 407 1 7 806 5
do
1 896 1 1 919 1
do
1 765 1 1 777 1
Exports:
Passenger cars (new) , assembled
To Canada
Trucks and buses (new), assembled
do
do
do
Imports:
Passenger cars (new), complete units
From Canada, total
Trucks and buses, complete units
do
do
do
Shipments, truck trailers:
Complete trailers and chassis
number
Vans..
do
Trailer bodies and chassis (detachable), sold
separately
number
Registrations (new vehicles): O
Passenger cars
Foreign cars
Trucks
. _
thous
do
do
330. 46
286. 78
92.03
3
1
COO Q
r
2 890. 9
2
719 5
2 171 4
2 142
3 300
5
RAILROAD EQUIPMENT
Freight cars (ARCI & AAR):
Shipmentscf
_
Equipment manufacturers.
Railroad shops, domestic
. number
do
do
56, 262
38, 991
17, 271
68, 452
54, 072
14, 380
6,571
5,353
1 218
5,826
4,667
1 159
5,445
3 888
1 557
4,861
3,770
1,091
5,482
4,032
1,450
6,881
4,879
2 002
6,972
5,181
1,791
6,273
4,941
1 332
5,765
4,640
1 125
4,282
3 484
798
5,755
4,859
896
6,632
5,386
1 246
6,448
4,800
1,648
i 63 561
i 49, 391
14, 170
84 345
65, 401
18, 944
19 721
19, 329
392
6 263
6,203
60
7 968
6 683
1,285
5 747
3,047
2,700
2 679
2,284
395
4 504
4,021
483
3 782
3,148
634
8 264
3 456
4,808
9 022
4,753
4,269
2 032
2,032
0
3 632
3 236
396
3 080
l', 948
1,132
5 501
5,501
0
31, 740
24, 540
7,200
46, 751
35, 508
11 243
47, 208
38, 292
8 916
47, 445
39, 628
7 817
50, 395
42 850
7 545
51,233
42, 079
9 154
47,915
39,816
8 099
45,133
38,853
6 280
42, 043
36, 920
5,123
43,460
35,361
8 099
46, 751
35, 508
11 243
44, 201
33, 756
10 445
40, 704
30, 759
9 945
36, 426
26 595
9 831
34, 491
26, 308
8 183
1,458
5.2
1 438
5.6
1 449
51
1 448
5 2
1 446
53
1 443
5.4
1 442
5.5
1 441
5 5
1 440
5 5
1 440
55
1 438
5 6
1 438
57
1 435
5 6
1 434
57
1 435
5 6
93.82
94.37
93.94
93.96
94.01
64.34
65.62
65.02
64.82
64.87
Revised.
i Annual total
T> includes revisions not distributed by months
estimate of production.
* -~'—-•«---— •*-•>•
->---—*--•-••
eludes delayed registrat
for three States.
7 Revisions _ _. .,,_. ._,
1,784; 1,799; 1, 773.
» Omits data for two States.
cf Beginning May 1969, data (compiled jointly by the American Railway Car Institute and
93.96
65.11
93.98
65.19
94.22
65.45
94.38
65.23
New orders cf...
Equipment manufacturers
Railroad shops, domestic. _.
do
do
do
Unfilled orders, end of period d"
Equipment manufacturers
Railroad shops, domestic.. .
do_.
do
do
Freight cars (revenue), class 1 railroads (AAR):§
Number owned, end of period .
thous
Held for repairs, % of total owned
Capacity (carrying), aggregate, end of period
mil. tons_
Average per car ._
_
ton"
r
94.76
94.37
94.45
94.45
94.52
66.05
65.91
65.62
65.69
65.80
the Association of American Railroads) refer to new cars for all domestic users. Not covered
are rebuilt cars and cars for export; also, cancellations are not reflected.
9 Total includes backlog for nonrelated products and services and basic research.
0Data include military-type planes shipped to foreign governments.
O Courtesy of R. L. Polk & Co.; republication prohibited.
§ Excludes railroad-owned private refrigerator cars and private line cars.
94.15
65.35
INDEX TO CURRENT BUSINESS STATISTICS, Pages S1-S40
SECTIONS
General:
Business indicators
Commodity prices
Construction and real estate
Domestic trade
1-7
7-9
9,10
11,12
Labor force, employment, and earnings
Finance
Foreign trade of the United States
Transportation and communications
13-16
16-21
21-23
23,24
Industry:
Chemicals and allied products
Electric power and gas
Food and kindred products; tobacco
Leather and products
24,25
25,26
26-30
30
Lumber and products
Metals and manufactures
Petroleum, coal, and products
Pulp, paper, and paper products
31
31-34
34-36
36,37
Rubber and rubber products
Stone, clay, and glass products
Textile products..
Transportation equipment
37
38
38-40
40
INDIVIDUAL SERIES
Advertising
11,16
Aerospace vehicles
40
Agricultural loans
16
Air carrier operations
23
Aircraft and parts
4,6,7,40
Alcohol, denatured and ethyl
25
Alcoholic beverages
11,26
Aluminum
33
Apparel
1,3,4,8,9,11-15,40
Asphalt and tar products
35,36
Automobiles, etc
1,3-£,8,9,11,12,19,22,23,40
2,3
Balance of international payments
16,17
Banking
27
Barley
34
Battery shipments
28
Beef and veal
23.26
Beverages. .
4,8,11,22,
5-7
Blast furnaces, steel works, etc
18-20
Bonds, outstanding, issued, prices, sales, yields
33
Brass and bronze
38
Brick
20
Broker's balances
6,7,
Building and construction materials..
9,10,31 36,38
10
Building costs
10
Building permits.
7
Business incorporations (new), failures
5
Business sales and inventories
26
Butter
28
Cattle and calves
Cement and concrete products
9, 10,38
8
Cereal and bakery products
12
Chain-store sales, firms with 11 or more stores. . .
26
Cheese
Chemicals
4-6,8,13-15,19, 22-25
30
Cigarettes and cigars
9,38
Clay products
Coal
4,8,22, 34,35
23,29
Cocoa
23,29
Coffee
35
Coke........
,
Communication
2, 20,24
Confectionery, sales
29
Construction:
10
Contracts
10
Costs
13-15
Employment, unemployment, hours, earnings..
1
Fixed investment, structures
Highways and roads
9,10
10
Housing starts
10
Materials output indexes
New construction put in place
9
17,18
Consumer credit
1
Consumer expenditures
3,4
Consumer goods output, index
8
Consumer price index
33
Copper
27
Corn
8
Cost of living (see Consumer price index)
Cotton, raw and manufactures
7,9,22, 38,39
30
Cottonseed cake and meal and oil
17,18
Credit, short- and intermediate-term
Crops
3,7,27, 30,38
.
4,35
Crude oil and natural gas
Currency in circulation
19
Dairy products
Debits, bank
Debt, U.S. Government
Department stores
Deposits, bank
Disputes, industrial
Distilled spirits
Dividend payments, rates, and yields
Drug stores, sales
3,7,8, 26,27
16
18
11,12
16,17,19
16
26
2, 3,19-21
11,12
Earnings, weekly and hourly
15
Eating and drinking places
11,12
Eggs and poultry
3,7,8,28,29
Electric power
4,8,25,26
Electrical machinery and equipment
4-7,
9,13-15,19,22,23,34
Employment estimates
13-15
Employment Service activities
16
Expenditures, U.S. Government
18
Explosives
25
Exports (see also individual commodities).... 1,2,21-23
Express operations
23
Failures, industrial and commercial
7
Farm income, marketings, and prices
2,3,7,8
Farm wages
15
Fats and oils
8,22,23,29,30
Federal Government
finance
18
Federal Reserve banks, condition of
16
Federal Reserve member banks
17
Fertilizers
8,25
Fire losses
10
Fish oils and
fish
29
Flooring, hardwood
31
Flour, wheat
28
Food products
1,4-8,11-15,19,22,23,26-30
Foreclosures, real estate
10
Foreign trade (see also individual commod.)
21-23
Foundry equipment
34
Freight cars (equipment)
4,40
Fruits and vegetables
7,8
Fuel oil
35,36
Fuels
4,8,22,23,34-36
Furnaces
34
Furniture
4,8,11-15
Gas, output, prices, sales, revenues
Gasoline
Glass and products
Glycerin
Gold
Grains and products
Grocery stores
Gross national product
Gross private domestic investment
Gypsum and products
4,8,26
1,35
38
25
19
7,8,22,27,28
11,12
1
1
9,38
Hardware stores
11
Heating equipment
9,34
Hides and skins
9,30
Highways and roads
9,10
28
Hogs.
8
Home electronic equipment
,
10
Home Loan banks, outstanding advances.
10
Home mortgages
40
Hosiery
24
Hotels
14
Hours of work per week.
Housefurnishings
1,4,8,11,12
Household appliances, radios, and television sets.
4,
8,11,34
Housing starts and permits
10
Imports (see also individual commodities)... 1,2,22,23
Income, personal
2,3
Income and employment tax receipts
18
Industrial production indexes:
By industry
3,4
By market grouping
3,4
Installment credit
12,17,18
Instruments and related products
4-6,13-15
Insurance, life
18,19
Interest and money rates
17
Inventories, manufacturers* and trade
5,6,11,12
Inventory-sales ratios
5
Iron and steel
4-7,9,10,19,22, 23,31,32
Labor advertising index, strikes, turnover
16
Labor force
13
Lamb and mutton
28
Lard
28
Lead
33
Leather and products
4,9,13-15,30
Life insurance
18,19
Linseed oil
30
Livestock
3,7,8,28
Loans, real estate, agricultural, bank, brokers'
(see also Consumer credit)
10,16,17,18,20
Lubricants
35,36
Lumber and products
4,9,10-15,19,31
Machine tools
34
Machinery
4-7,9,13-15,19,22,23,34
Mail order houses, sales
11
Man-hours, aggregate, and indexes
14
Manmade fibers and manufactures
9,39
Manufacturers* sales (or shipments), inventories,
orders
5—7
Manufacturing employment, unemployment, production workers, hours, man-hours, earnings. . . 13-15
Manufacturing production indexes
3,4
Margarine
29
Meat animals and meats
3,7,8,22, 23,28
Medical and personal care
8
Metals
4-7,9,19,22,23,31-33
Milk
27
Mining and minerals
2-4,9,13-15,19
Monetary statistics
19
Money supply
19
Mortgage applications, loans, rates
10,16,17,18
Motor carriers
23,24
Motor vehicles
1,4-6,8,9,11,19, 22,23,40
Motors and generators.
34
National defense expenditures
1,18
National income and product
1,2
National parks, visits
24
Newsprint
23,37
New York Stock Exchange, selected data
20,21
NonferrouB metals
4,9,19,22,23,33
NoninstaUment credit
18
Oats
27
Oil burners
.
34
Oils and fats
8,22,23,29,30
Orders, new and unfilled, manufactures*
6,7
Ordnance
13-15
Paint and paint materials
Paper and products and pulp
8,25
4-6,
9,13-15,19,23,36,37
Parity ratio
7
Passports issued
24
Personal consumption expenditures
1
Personal income
2,3
Personal outlays
2
Petroleum and products
4-6,
8,11-15,19,22,23,35,36
Pig iron
31,32
Plant and equipment expenditures
2
Plastics and resin materials
25
Population
13
Pork
28
Poultry and eggs
3,7,8,28,29
Prices (see also individual commodities)
7-9
Printing and publishing
4,13-15
Private sector employment and earnings
15
Profits, corporate
2,19
Public utilities.
2-4,9,19-21,25,26
Pulp and pulpwood
36
Purchasing power of the dollar
9
Radiators and convectors
34
Radio and television
4, 11,34
Railroads
2,15,16,20,21,24,40
Railways (local) and bus lines.
23
Rayon and acetate
39
Real estate
10,17,18
Receipts, U.S. Government
18
Recreation
8
Refrigerators and home freezers
34
Rent (housing)
8
Retail trade
5,7,11-15,17
Rice
27
Roofing and siding, asphalt
36
Rubber and products (incl. plastics)
4-6,
9,13-15,23.37
Saving, personal
Savings deposits
Securities issued
Security markets
Services
Sheep and lambs
Shoes and other footwear
Silver
Soybean cake and meal and oil
Spindle activity, cotton
Steel (raw) and steel manufactures
Steel scrap
Stock prices, earnings, sales, etc
Stone, clay, glass products
Stoves and ranges
Sugar
Sulfur
Sulfuric acid
Superphosphate
2
17
19,20
20,21
1,8,13
28
9,11,12,30
19
30
39
22,23,31,32
31
20,21
4-6,9,13-15,19,38
34
23,29
25
24
25
Tea imports
29
Telephone and telegraph carriers
24
Television and radio
4,11,34
Textiles and products
4-6,9,13-15,19,22, 23,38-40
Tin
33
Tires and inner tubes
9,11,12,37
Tobacco and manufactures
4-7,9,11,13-15,30
Tractors
34
Trade (retail and wholesale)
5,11,12
Transit lines, local.
23
Transportation
1,2,8,13,23,24
Transportation equipment
4-7,13-15,19,40
Travel
23,24
Truck trailers
40
Trucks (industrial and other)
34,40
Unemployment and insurance
U.S. Government bonds
U.S. Government
Utilities
13,16
16,17,20
finance
18
2-4,9,19-21,25, 26
Vacuum cleaners
Variety stores
Vegetable oik
Vegetables and fruits
Veterans' benefits
Wages and salaries
Washers and dryers
Water heaters
Wheat and wheat
Wholesale price indexes
Wholesale trade
Wood pulp
Wool and wool manufactures
Zinc.
34
11,12
29,30
7,8
1°
flour
2,3,15
34
Jj
i S
• . ... .
*• *
5,7,11,13-15
36
V, 59
33
UNITED STATES
GOVERNMENT PRINTING OFFICE
D I V I S I O N OF PUBLIC DOCUMENTS
WASHINGTON, D.C. 20402
OFFICIAL BUSINESS
Survey of Current Business
Volume 50
Number 6
197O Index of Special Articles and Features
CURRENT ANALYSIS
INVESTMENT
No.
1
1
1
1
5
5
6
Page
11
14
18
19
3
15
No.
I
Income and Consumption
1
Nonresidential Fixed Investment
1
Government Expenditures and Receipts....
4
1969 GNP by Major Industry
Treatment of the Retroactive Features of
the Federal Pay Raise and the Allocation
of Special Drawing Rights in the National
Income and Product Accounts
The Relationship Between Personal Income
and Taxable Income
Page
12
13
16
11
The Economy in 1969
Housing
Labor Markets
Prices
Recent Trends in Auto Demand
Wages Under Collective Bargaining in 1970..
Trends in Housing Starts
4
NATIONAL INCOME
INTERNATIONAL
19
TRANSACTIONS
No.
The Balance of Payments
Plant and Equipment Expenditures by
Foreign Affiliates of U.S. Corporations—
Revised Estimates for 1969 and 1970
The U.S. Balance of Payments: Fourth
Quarter and Year 1969
The U.S. Balance of Payments: First Quarter
1970
13
Page
21
Inventories
Business Investment Expectations
Revised Estimates of New Plant and Equipment Expenditures in the United States,
1947-69: Part I
Revised Estimates of New Plant and Equipment Expenditures in the United States,
1947-69: Part II
Manufacturers' Inventory and Sales Expectations, First Half 1970
»
Business Investment and Sales Programs for
1970
Alternative Estimates of Fixed Business Capital in the United States, 1925-1968
Manufacturers' Inventory and Sales Expectations, Second and Third Quarters 1970. .
Plant and Equipment Expenditure Expectations
No.
1
1
25
19
12
14
18
21
15
FINANCIAL AND FISCAL
DEVELOPMENTS
No.
Financial Developments
Federal Programs for Fiscal 1971
Recent Financial Developments
Federal Budget Revisions
Page
15
24
1
2
5
6
Page
20
12
4
6
REGIONAL ECONOMICS
21
25
23
Personal Income Higher in All Regions in the
Third Quarter of 1969
State Personal Income in 1969
Personal Income in Metropolitan and Nonmetropolitan Areas
LATEST SUPPLEMENT—Business Statistics—1969 Biennial Edition: Price $3.00
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