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JUNE 1973 / VOLUME 53 NUMBER
6
SURVEY OF
CURRENT BUSINESS
JUNE 1973 / VOLUME 53 NUMBER
SURVEY OF CURRENT BUSINESS
CONTENTS
THE BUSINESS SITUATION
Revised Estimates of Federal Budget
National Income and Product Tables
1973 Plant and Equipment Expenditure Programs
International Travel, Passenger Fares, and Other
Transportation in the U.S. Balance of Payments: 1972
U.S. Balance of Payments Developments:
First Quarter 1973
U.S. Department of Commerce
3
Frederick B. Dent / Secretary
4
8
Edward D. Failor / Administrator
Social and Economic Statistics
Administration
12
17
Bureau of Economic Analysis
George Jaszi / Director
Morris R. Goldman / Deputy Director
Lora S. Collins / Editor
Leo V. Barry, Jr. / Statistics Editor
Billy Jo Hurley / Graphics
Staff Contributors to This Issue
Jack J. Baine
R. David Belli
Lora S. Collins
Donald A. King
Max Lechter
Etienne H. Miller
CURRENT BUSINESS STATISTICS
General
S1-S24
Industry
S24-S40
Subject Index (Inside Back Cover)
Barbara L. Miles
Thomas R. Robinson
Gordon Smith
Charles A. Waite
John T. Woodward
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98109
the BUSINESS SITUATION
THE latest BEA survey of business
capital spending plans points to a 13percent increase this year compared
with 9 percent in 1972 (see pages 8-11
for details). Manufacturers reported
plans for a sharp increase following
some years of near stability, with outlays to rise 18K percent this year
compared with only 4% percent in
1972 (chart 1). Pressure on capacity is
evidently significant in a number of
manufacturing industries. Aggregate
spending by nonmanufacturing industries has been increasing quite steadily
year after year despite cyclical fluctuations in overall economic activity, and
a further broad-based advance is expected in 1973. The essentially steady
growth of aggregate nonmanufacturing
spending has been largely a reflection
of the growth in outlays by the communications industry—mainly telecommunications firms—and the electric
utilities, both of which have faced
persistent capacity shortages.
A larger increase in capital spending
this year than last was generally expected at the start of the year. Economic
forecasts at that time typically included
a 1973 capital spending increase on the
order of 13 to 15 percent. The BEA
February survey pointed to a rise of
almost 14 percent and the latest
expectation, 13 percent, is not significantly different. On balance, the
indicated path of capital investment in
1973 is consistent with the general
shape of economic forecasts made early
in the year. The rate of inventory
investment, on the other hand, has
been running well below the range of
$10 to $15 billion incorporated in 1973
forecasts, while the weakening of homebuilding thus far in 1973 seems to have
been a bit milder than most early
forecasts implied. The one really sharp
der of 1973 will be appreciably slower
than the extraordinary 8 percent
(annual rate) in the fourth quarter of
1972 and the first quarter of 1973. For
instance, the median forecast of 1973
real output in the American Statistical
Association's quarterly poll of forecasters was higher in May than in
February, but this increase reflected
the unexpectedly large first quarter
advance; the forecast for the rest of the
year was for a real growth rate averagwammammKmmmaamm CHART I ing just over 4 percent (annual rate),
somewhat less than forecast in February
Plant and Equipment Expenditures
(and decelerating during the year).
The
revised Administration forecast for
Billion $ (Ratio scale)
1973 released around the first of May
showed an upward revision for the year
as a whole but implied a real growth
rate after the first quarter in the range
of 5% to 6 percent, which is similar to
the implication of the Administration's
January forecast. (The revised official
forecast put 1973 GNP at $1283
billion, with real output up 7 percent
and the deflator up about 4 percent;
the January forecast figures were $1267
billion, 6% percent, and 3 percent,
respectively.)
A new element affecting the economy's course is the President's midJune decision to take further economic
stabilization action. The President's
specific concern was with rising prices,
especially rising food prices. On June 13,
he imposed a freeze to hold prices at
levels no higher than those charged during the first 8 days of June. The only
general exceptions are prices of unMining
processed agricultural commodities at
the farm level, and rents. Wages,
111 111 11 1111 11 M i 11 i 111 1111 11 11 n 11 11 11 i 11 i
interest, and dividends continue to be
1964
66
68
70
72
74
subject to existing control systems during
the freeze. The freeze is to last for
Seasonally Adjusted at Annual Rates
a
maximum
of 60 days, to allow time for
• Expected
development
of a new system of conU.S. Department of Commerce, Bureau of Economic Analysis
73-6-1
divergence from the typical 1973 forecast was the first quarter acceleration
in the growth of consumer demand, and
this surge has been a major cause of
revision in forecasts of total 1973
output.
Various analysts now forecast a wide
range of paths for economic activity
in 1974, but there is a broad consensus
that real output growth for the remain-
1
SURVEY OF CURRENT BUSINESS
trols—Phase IV—"designed to contain
the forces that have sent prices so
rapidly upward in the past few months."
The consumer price data for May
have just become available as this issue
of the SURVEY goes to press. The overall
consumer index rose 0.6 percent (seasonally adjusted), with food up 1.1
percent and all items except food up
0.5 percent. The seasonally adjusted
wholesale index increased 2.0 percent
in May, with industrial commodities up
more than 1 percent for the third consecutive month and the nonindustrial
index up 4.1 percent. In the preceding
3 months—February, March, and
April—the rise in the consumer index
averaged 0.7 percent per month while
the wholesale index rose an average 1.6
percent per month.
Housing starts
At the beginning of the year, the
expectation was that the very high
rate of housing starts maintained in
1972 was not sustainable for long, and
that total private starts in 1973 would
be roughly 10 percent below the 1972
total of 2.36 million units. The seasonally adjusted annual rate of starts
had been essentially flat throughout
1972, at about 2.4 million units. It
peaked in January of this year at 2.5
million, fell in the next 3 months, but
then rebounded in May. The rate
averaged 2.40 million in the first quarter, the same as in the fourth, and 2.27
million in April and May. For the
year's first 5 months the average was
2.35 million units, equal to the 1972
total and a higher figure, probably,
than analysts had looked for.
The course of housing starts for the
rest of the year will be heavily influenced by the availability and cost of
credit. A tightening of credit has been
evident since early in the year, reflecting Federal Reserve policy as well
as very strong credit demands. The
tightening intensified in the spring and
the rise in short-term interest rates
accelerated as midyear approached.
The steep rise in market rates this year
has rendered the rates paid by thrift
institutions relatively unattractive and
the net inflow of deposits to these
institutions has slowed appreciably.
Consequently, the institutions have
June 1973
been cutting back sharply on new mortgage commitments, so that mortgage
credit has become harder to obtain and
mortgage interest rates have risen.
However, if the growth of business
credit demand slows with a slowing of
the economy's growth, credit tightness is unlikely to have a severe impact
on housing activity this year.
stocks have declined to the lowest level
since the model change-over period last
July. The ratio of inventory to sales
was 1.68 months at the end of May;
with the exception of March, when the
ratio fell to 1.60, this is the lowest since
last July and is down considerably
from the recent high of 1.90 at the end
of 1972.
Consumer demand
Consumer income
Following unusually strong expansion
in the first 3 months of the year, retail
sales dropped sharply in April (though
some of the drop may have reflected
the difficulty of making an accurate
seasonal adjustment to take account of
the date of Easter). Sales recovered
only part of the decline in May, according to the advance estimate, and the
average in April and May was just
equal to the average for the first quarter, in contrast to very large gains
during the past year and especially in
the first quarter—when retail sales rose
5% percent.
The virtual stability of sales in
April-May versus the first quarter average was broadly based among the major
durable and nondurable goods groups.
One clear exception was apparel sales,
which are estimated to have dropped
sharply after very large gains in the
fourth and first quarters. Sales at food
stores rose 1 percent, but the bulk of
that increase appears to reflect rising
prices.
Sales by retailers in the auto group
shared the general pattern of stability
in April and May relative to the first
quarter. This is consistent with the
behavior of new car sales in unit terms.
Unit sales, including both domestic
models and imports, averaged 12.2 million (seasonally adjusted annual rate)
in April and May, only a little below
the record rate of 12.5 million in the
first quarter. Sales of import models
averaged 1.9 million in April and May
and sales of domestic models 10.3 million; the comparable rates in the first
quarter were 2.0 million and 10.6
million.
Despite strenuous efforts to expand
production, the very high sales rate for
domestic models has cut heavily into
dealer inventory accumulation, and
The recent slowdown in consumer
demand came at a time when personal
income growth was also slowing—
although the income gains were still
quite substantial—and saving was evidently rising appreciably. A significant
factor in the deceleration of income
growth in April and May was a decline
in agricultural income, following months
of substantial increases. The increase in
personal income averaged $7.6 billion
(annual rate) in February and March
and slowed to $6.1 billion in April and
$4.8 billion in May. The increase in
January was only $3.1 billion, but
would have been about $6% billion had
it not been for a $5.2 billion rise in
social security taxes (a deduction from
personal income) that more than offset
a Federal pay increase of about $2
billion. Income gains averaged $12
billion (annual rate) per month in the
fourth quarter of last year, an exceptionally large figure that reflected
big increases in social security benefits.
A factor having an important influence on disposable personal income
this spring is net final settlements on
1972 tax liabilities. Taxpayers generally
did not adjust to the new withholding
schedules introduced in January 1972
and were consequently overwithheld by
some $9 billion in 1972—making disposable income last year that much lower
than it otherwise would have been. In
the first half of this year, ongoing
overwithholding is being more than
offset by larger-than-usual net final
settlements (bigger tax refunds or
smaller final payments to the Treasury
than otherwise) that mainly reflect
repayment of the 1972 overwithholding.
It is estimated that the overwithholding
phenomenon's net impact on disposable
income was neutral in the first quarter
as enlarged final settlements about
June 1973
offset continued overwithholding. However, the bulk of the refunds has been
concentrated in the second quarter,
with the extra-large net final settlements estimated to exceed ongoing
overwithholding by some $3 to $4
billion (annual rate), which would
boost disposable income in the quarter
by that much.
SURVEY OF CURRENT BUSINESS
percent 1 year earlier and 15.2 percent
in the first quarter of 1971. Also, tightening in credit markets has led to higher
interest rates and a reduced availability
of funds, and this will probably cut into
installment credit use. Finally, the outlook for further slowdown in credit
Revised Estimates of Federal Budget
Installment credit
The growth of outstanding consumer
installment credit in April, the latest
month for which data are available,
amounted to $16.8 billion at a seasonally adjusted annual rate, a large
gain but nevertheless the smallest since
last September. Credit growth was at a
record annual rate of $24 billion in the
first 3 months of this year, $19%
billion in fourth quarter of 1972, and
$14% billion in the first 9 months of
1972. The steep acceleration in the 6
months preceding April carried the
ratio of credit growth to the flow of
disposable income to a record 2.8 percent in the first quarter, up from 1.7
percent in the first quarter of 1972 and
only 0.8 percent in the first quarter of
1971, when the current expansion in
installment credit began.
The stabilization of new car sales
this year—albeit at a very high rate—
has slowed the growth of auto credit.
In April, there was also a sharp slowdown in personal loan growth, following
3 months of sizable increases; this may
be related to the fact that income tax
refunds were exceptionally heavy in
April, due to the overwithholding
phenomenon as well as to some lateness
this year in processing tax returns.
It is unwise to infer much from a
1-month slowdown in credit expansion,
but the April figures do seem consistent
with other data suggesting the likelihood of a slowdown in credit use relative to the hectic pace of the past two
quarters. For instance, the percentage
of disposable personal income currently
committed to installment debt repayment is very high. There is no established limit to that percentage which,
once reached, will cause a slowdown in
comsumer credit growth; however, the
ratio rose sharply in the first quarter to
a record 16.3 percent, compared to 15.8
growth is consistent with the most
recent University of Michigan survey
of consumer sentiment, taken in March,
which showed a sharp drop in consumer
optimism that suggests a reduction in
the willingness to borrow and to spend
in the months ahead.
Revised estimates of Federal unified
budget receipts and outlays were released in early June by the Office of
Management and Budget (OMB). The
new estimates are tentative, largely
because congressional action had not
been completed on any of the fiscal
1974 appropriation bills or on other proposed legislation affecting the budget.
For fiscal 1974, a $2.7 billion deficit is
now estimated, compared to a $12.7
deficit projected in January. The change
is due entirely to higher receipts estimates : individual income taxes and corporate income taxes are both revised
up about $4% billion and other taxes
are up $1 billion. These estimates are
based on a projected calendar 1973
GNP of $1,283 billion, $16 billion above
the January projection. In addition, tax
collection experience this year suggests
that receipts at a given level of GNP
are higher than previously estimated.
The outlays projection for fiscal 1974
continues at the level of $268.7 billion
published in January, but there is some
shift among the components. Upward
revisions for interest on the debt and
disaster assistance are offset by lower
unemployment benefits and larger receipts
(negative outlays) from sales of stockpiles and offshore oil leases.
Fiscal 1973 deficit reduced
The revised figures show a deficit
of $17.8 billion for the fiscal year
ending this month, compared to $24.8
(Continued on page 56)
Table 1.—Federal Government Receipts and Expenditures
[Billions of dollars]
Fiscal year 1973 estimate
As of
As of
January
budget
Fiscal year 1974 estimate
June
Revision
Revision
January
budget
June
Unified budget:
Receipts
Outlays...
Surplus or deficit (—).
225.0
249 8
-24.8
232.0
249 8
-17.8
7.0
.0
7.0
256.0
268.7
-12.7
266.0
268.7
-2.7
10.0
.0
10.0
233 3
104.2
38 7
20.5
69.8
259.9
105.8
74 6
31.1
91.6
88 9
2 7
41.6
14.6
239.7
107.6
41.2
20.8
70.0
258.5
106.5
75.1
31.4
90.8
88 1
2.7
40.8
14.4
6.4
3.4
2.5
.3
.2
-1.4
.8
.5
.3
-.8
—.8
.0
-.8
-.2
263.0
116.6
41.6
21.6
83.2
275.5
111.5
75.9
35.6
101.9
99.1
2.8
41.6
15.8
273.3
121.4
46.5
21.8
83.6
276.3
111.1
74.9
36.2
101.9
99.2
2.7
42.1
16.8
10.3
4.8
4.9
.2
.4
.8
-.4
-1.0
.6
.0
.1
-.1
.5
1.0
5.9
-18.8
—.4
7.8
4.8
-12.5
4.4
-3.0
-.4
9.5
National income and product accounts basis:
Receipts..
Personal tax and nontax receipts
Corporate profits tax accruals
Indirect business tax and nontax accruals _
Contributions for social insurance
Expenditures
Purchases of goods and services . . . .
National defense
Other
Transfer payments
To persons
To foreigners (net)
Grants-in-aid to State and local governments
Net interest paid
Subsidies less current surplus of government enterprises
Surplus or deficit (—).
U.S.
6.3
-26.6
Sources: Unified budget estimates, Office of Management and Budget; NIA estimates, Bureau of Economic Analysis,
Department of Commerce.
SUKVEY OF CURRENT BUSINESS
June 1973
NATIONAL INCOME AND PRODUCT TABLES
1971
1971
1972
IV
1972
I
II
1971
1973
III
IV
I
1971
1972
IV
I
Seasonally adjusted at annual rates
1973
1972
II
III
IV
I
Seasonally adjusted at annual rates
Billions of current dollars
Billions of 1958 dollars
Table 1.—Gross National Product in Current and Constant Dollars (' L.I, 1.2)
1,050.4 1,151.8 1,078.1 1,109.1 1,139.4 1,164.0 1,194.9 1,237.9
Gross national product
Personal consumption expenditures
Durable goods
Nondurable goods
Services
_
Gross private domestic investment
Fixed investment
Nonresidential
Structures..
Producers'durable equipment
Eesidential structures
Nonfarm
. . .
Farm
_
. . .
Change in business inventories
Nonfarm
Farm...
.-
741.7
789.5
754.5
766.5
783.9
796.1
811.6
827.3
664.9
721.0
680.5
696.1
713.4
728.6
745.7
773.6
495.4
524.6
503.2
511.0
520.9
528.7
537.8
550.3
103.5
278.1
283.3
116.1
299.5
305.4
106.1
283.4
290.9
111.0
288.3
296.7
113.9
297.2
302.4
118.6
302.0
308.0
120.8
310.4
314.5
130.4
322.6
320.6
92.1
211.1
192.2
102.8
220.5
201.3
95.4
212.8
195.0
98.6
214.7
197.7
100.7
220.1
200.0
104.5
221.9
202.3
107.4
225.4
205.0
115.4
228.8
206.2
152.0
148.3
105.8
38.4
67.4
180.4
174.5
158.8
157.2
183.2
175.2
120.7
41.8
79.0
76.8
22.8
54.0
124.0
119.4
84.4
22.9
61.4
112.0
111.3
79.2
22.2
57.0
116.6
116.3
126.1
43.7
82.3
199.7
192.9
133.5
46.7
86.8
108.6
105.9
109.8
38.8
71.0
177.0
172.0
119.2
42.0
77.2
193.4
183.1
120.6
42.2
78.3
168.1
167.7
116.1
41.3
74.8
82.2
23.0
59.2
122.0
118.0
83.6
23.0
60.6
125.5
119.3
84.2
22.6
61.6
132.0
124.0
87.6
23.1
64.4
134.1
129.1
91.7
24.1
67.6
42.6
42.0
.6
54.0
53.2
.7
5.9
5.6
47.3
46.7
.6
51.6
51.0
.6
52.8
52.1
.6
57.0
56.1
.9
59.4
58.4
.9
29.1
28.7
.4
35.0
34.5
.5
32.1
31.7
.4
34.2
33.8
.4
34.4
34.0
.4
35.1
34.6
.5
36.4
35.8
.6
37.4
36.8
.6
1.7
.8
.4
.1
5.0
4.3
10.3
10.1
6.8
6.5
2.6
1.6
4.6
4.3
.7
-.1
.3
—.1
3.9
3.4
6.2
6.2
.3
.7
54.4
53.7
.8
8.0
7.9
.1
.2
.3
1.1
.3
.3
.5
.1
8.0
7.8
4.9
4.8
-3.4
-3.5
-2.2
.1
-1.9
-1.8
-3.3
-2.8
79.6
83.1
87.6
89.8
52.6
52.5
56.8
58.7
49.9
51.7
55.5
58.9
54.2
57.0
3.6
2.4
1.2
Net exports of goods and services
Exports
Imports
Government purchases of goods and services
Federal
National defense
Other
State and local
.3
.9
.8
.2
.2
.7
-4.2
-2.1
-4.6
-5.2
66.1
65.4
73.7
77.9
63.0
65.1
70.7
75.3
70.0
75.2
74 4
77.8
232.8
254.6
240.9
249.4
254.1
255.6
259.3
266.8
137.6
142.8
141.1
142.2
143.9
142.6
142.7
142.9
97.8
71.4
26.3
105.8
75.9
29.9
100.7
71.9
28.7
105.7
76.7
28.9
108.1
78.6
29.6
105.4
75 1
30.2
104.0
73.2
30.8
106.6
75.0
31.6
60.8
61.6
62.3
62.8
63.7
60.8
59.0
58.0
135.0
148.8
140.2
143.7
146.0
150.2
155.2
160.1
76.8
81.3
78.8
79.4
80.3
81.8
83.6
84. S
-.7
-.9
.0
57.2
57.9
60.3
61.1
63.9
63.9
Table 2.—Gross National Product by Major Type of Product in Current and Constant Dollars (1.3, 1.5)
Gross national product
Final sales.
Change in business inventories.
Goods output.
1,050.4 1,151.8 1,078.1 1,109.1 1,139.4 1,164.0 1,194.9 1,237.9
741.7
789.5
754.5
766.5
783.9
796.1.
811.6
1,046. 7 1,145.9 1,076.4 1,108. 6 1,134.4 1,156.0 1,184.6 1, 231.0
3.6
5.0
8.0
.4
5.9
1.7
10.3
6.8
542.6
565.1
495.5
537.1 550.4
504.8
517.6
591.3
739.1
2.6
784.9
4.6
766.3
.3
780.0
3.9
789.8
6.2
803.6
8.0
393.8
423.7
753.8
.7
400.4
407.0
420.7
428.7
438.3
406.8
.3
416.7
3.9
185.5
181.6
4.0
399.7
.7
167.4
169.5
-2.1
422.5
6.2
175.0
174.8
.3
181.4
179.1
2.3
187.9
183.8
4.1
430.3
8.0
197.8
188.6
9.2
229.4
227.3
2.0
238.1
237.5
.6
233.0
230.2
2.8
232.0
232.0
.0
239.2
237.6
1.6
240.9
238.7
2.2
240.5
241.7
-1.2
507.1
278.4
291.1
282.3
285.2
289.3
293.2
296.7
139.5
69.5
74.7
71.8
74.3
74.0
74.1
76.5
Final sales
Change in business inventories.
Durable goods
Final sales
Change in business inventories.
491.8
3.6
536.6
5.9
503.1
1.7
517.2
.4
532.1
5.0
542.4
8.0
554.8
10.3
584.5
6.8
391.2
2.6
419.1
4.6
195.7
194.6
1.1
222.5
217.3
5.2
198.2
200.1
-1.9
209.2
208.8
.4
217.6
214.6
3.0
226.1
220.7
5.4
237.0
225.1
11.9
246.5
240.3
6.3
164.5
163.8
.6
Nondurable goods
Final sales
Change in business inventories.
299.8
297.3
2.5
320.1
319.3
.8
306.6
303.0
3.5
308.4
308.4
.0
319.6
317.5
2.1
324.3
321.7
2.6
328.1
329.7
-1.6
344.8
344.3
.5
Services
443.9
482.3
456.3
467.3
477.3
487.3
497.3
Structures..
111.0
127.0
117.0
124.2
125.0
126.3
132.5
Table 3.—-Gross National Product by Sector in Current and Constant Dollars (1.7, 1.8)
Gross national product..
Private
Business
Nonfarm.
Farm
Households and institutions.
Eest of the world
General government
1,050.4 1,151.8 1,078.1 1,109.1 1,139.4 1,164.0 1,194.9 1,237.9
741.7
789.5
754.5
766.5
783.9
681.0
728.1
693.7
705.6
723.0
796.1
734.5
811.6
749.4
658.5
633.0
25.5
704.8
681.5
23.4
669.8
644.8
25.0
682.9
659.2
23.8
700.1
676.4
23.8
710.8
688.4
22.4
725.5
701.9
23.6
18.2
925.6 1,015.7
950.2
976.6 1,005.0 1,026.6 1,054.7 1,092.6
884.7
853.9
30.9
970.6
937.1
33.4
906.6
874.5
32.1
933.7
901.8
31.9
960.8
928.2
32.6
33.9
37.8
35.1
36.0
37.3
38.6
39.4
40.8
16.9
17.9
17.1
17.4
17.7
18.2
6.9
7.3
8.5
6.8
6.9
7.6
7.8
8.2
5.6
5.5
6.8
5.4
5.2
5.6
5.7
124.8
136.1
127.9
132.5
134.4
137.4
140.2
145.3
60.7
61.4
60.8
60.9
60.9
61.6
62.1
980.4 1,007.4 1, 043. 5
947.4
971.2 1,003.8
33.0
39.8
36.3
HISTORICAL STATISTICS
National income and product data for 1929-63 are in The National Income and Product Accounts of the United States, 1929-1965,
Statistical Tables (available at $1 from Commerce Department Field Offices or the Superintendent of Documents; see addresses inside
front cover). Each July SURVEY contains preliminary data for the latest 2 years and final data for the preceding 2. The July 1972 issue has
data for 1968-71. BEA will provide on request a reprint of final data for the years 1964-67. Prior July issues have final data as follows:
1964-65, July 1968; 1965-66, July 1969; 1966-67, July 1970; 1967-68, July 1971.
SURVEY OF CURRENT BUSINESS
June 1973
1972
1971
1971
1972
I
IV
II
1973
III
IV
I
1971
1972
Seasonally adjusted at annual rates
103.7
97.4
99.7
105.3
104.1
105.6
107.2
Equals: Net national product.. 956.6 1,048.1 980.7 1,009.3 1,034.1 1,059. 9 1,,089.21130.. 6
Less: Indirect business tax
and nontax liability.. 101.9 110.1 105.6
Business transfer pay4.7
ments
4.9
4.6
Statistical discrepancy.. - 4 . 8
- . 8 -5.2
Plus: Subsidies less current
surplus of government enterprises
Equals: National income
Less: Corporate profits and
inventory valuation
adjustment
Contributions for social
insurance
Wage accruals less disbursements
Plus: Government transfer
payments to personsInterest paid by government (net) and by
consumers
Dividends
Business transfer payments
Equals: Personal income
1.7
.7
106.7
108.7
111.4
113.7
116.4
4.8
-4.1
4.9
-. 1
5.0
2.3
5.0
-1.5
5.1
1.3
1.6
1.8
2.2
.5
855.7
935.6
876.2
903.1
922.1
943.0
78.6
88.2
79.4
81.8
86.1
89.6
95.6
100.2
65.3
74.0
66.9
71.9
73.1
74.6
76.3
88.9
-.5
1.4
Compensation of employees..
Wages and salaries
Private
Military
Government civilian.
-1.4
-.5
IV
I
-.2
974.2 1008.3
.0
.0
89.0
99.1
92.1
94.4
95.7
97.7
108.5
109.4
31.1
25.4
31.6
26.4
30.9
25.2
30.9
26.0
31.8
26.2
31.7
26.5
32.0
26.7
32.9
27.3
4.9
4.7
4.8
4.9
5.0
5.0
5.1
861.4
935.9
881.5
907.0
922.1
939.9
974.6
993.9
544.1 705.3 660.4 682.7 697.8 710.2 730.3
757.0
573.5 626.5 587.3 606.6 620.0 630.6 648.8
668.1
149.7 491.9 460.9 475.8 487.1 494.8 510.0
19.4 20.6 19.4 20.8 20.5 20.4 20.6
104.4 114.0 107.0 110.0 112.4 115.4 118.1
524.6
21.8
121.6
73.0
76.1
77.8
79.6
81.5
88.9
35.0
37.3
38.0
38.8
39.8
46.2
42.7
36.5
40.3
38.0
38.8
39.8
40.8
41.8
70.0
75.2
71.8
73.3
73.2
75.3
79.0
81.2
52.6
17.3
55.6
19.6
53.8
18.1
54.3
19.1
56.2
19.1
57.4
21.6
58.7
22.5
Rental income of persons
24.5
25.6
25.0
25.2
54.4
18.7
24.2
26.2
26.9
26.5
Corporate profits and inventory valuation adjustment
78.6
88.2
79.4
81.8
86.1
89.6
95.6
100.2
83.3
94.3
83.2
88.2
91.6
95.7 101.5
114.3
37.3
45.9
25.4
20.5
41.3
53.0
26.4
26.6
35.3
48.0
25.2
22.7
38.8
49.5
26.0
23.5
40.1
51.5
26.2
25.3
41.8
53.9
26.5
27.3
Proprietor's income
Business and professionalFarm
Profits before tax..
Profit tax liability 1
Profits after tax...
Dividends
Undistributed profitsInventory valuation adjustment
Net interest
4.6
555.7 935.6 876.2 903.1 922.1 943.0 974.2 1008.3
Supplements to wages and salaries.. 70.7 78.8
Employer contributions for social
insurance
34.1 38.5
Other labor income..
1.2
III
Table 6.—National Income by Type of Income (1.10)
National income.__
1,050.4 1,151.8 1,078.1 1,109.1 1,139.4 1,164.0 1,194.9 1237.9
93.8
II
Billion of dollars
Table 4.—Relation of Gross National Product, National Income,
and Personal Income (1.9)
Less: Capital consumption
allowances
I
IV
1973
Seasonally adjusted at annual rates
Billions of dollars
Gross national product
1972
1971
44.3
57.2
26.7
30.5
50.6
63.7
27.3
36.4
-4.7 -6.0 -3.9 - 6 . 5 -5.5 -6.1 -5.9 -14.1
38.5
41.3
39.7
40.1
40.9
41.7
42.5
43.4
Table 7.—National Income by Industry Division (1.11)
Table 5.—Gross Auto Product in Current and Constant Dollars
(1.15, 1.16)
Billions of current dollars
Gross auto product 1 .
Personal consumption
expenditures
Producers' durable equipment
Change in dealers' auto
inventories
Net exports.
Exports. _Imports- --
40.9
43.1
38.8
39.9
41.5
46.0
44.9
51.2
35.4
39.3
35.9
36.9
38.2
41.6
40.6
44.8
7.9
6.2
6.9
6.3
6.5
6.7
7.3
7.2
1.4
-.7
-1.2
-.9
-.6
—.9
-.3
-2.5
2.5
5.1
-2.9
3.0
5.9
-2.8
2.2
5.0
-3.0
2.7
5.7
-3.2
2.7
6.9
—2.5
3.4
5.9
-3.0
3.1
6.1
-2.7
3.6
35.7
7.8
37.6
8.6
34.0
7.4
34.4
8.5
36.2
8.7
41.1
8.0
38.7
9.3
43.3
10.9
40.9
46.0
AH industries, total.
Agriculture, forestry, and fisheries
Mining and construction
Manufacturing
Nondurable goods
Durable goods
Transportation
Communication
Electric, gas, and sanitary services
Wholesale and retail trade
Finance, insurance, and real estate
Services
Government and government enterprises
Rest of the world
855.7 935.6 876.2 903.1 922.1 943.0 974.2 1008.3
26.5 29.1 27.4 28.5 28.2 28.5 31.1
54.2 57.8 55.7 57.5 57.3 57.5 58.8
223.2 249.0 226.8 238.0 245.6 250.2 262.1
90.3 98.4 91.7 94.8 96.3 99.2 103.2
132.9 150.6 135.1 143.1 149.3 151.0 158.9
32.4
60.9
275.4
105.3
170.2
32.5 35.8 33.0 34.8 35.0 36.0 37.4
18.2 21.0 18.8 19.7 20.5 21.5 22.1
16.3 17.7 16.4 16.6 17.9 18.1 18.2
130.8 140.3 133.7 135.8 138.8 141.5 145.2
38.8
22.5
18.5
148.4
98.7 106.0 100.8 102.3 103.6 107.6 110.7
110.6 121.6 114.0 117.1 120.2 123.2 126.0
112.4
130.5
137.9 150.1 141.1 145.9 148.1 151.4 154.8
7.6
6.9
7.3
8.5
6.8
6.9
7.8
160.3
8.2
Addenda:
New cars, domestic 2_
New cars, foreign
Billions of 1958 dollars
Gross auto product l
36.4
Personal consumption
expenditures
Producers' durable equipment
Change in dealers' auto
inventories
Net exports.
Exports. __
Imports. _-
38.5
35.8
35.6
37.0
40.6
31.4
35.1
33.1
32.9
33.9
36.6
36.9
40.2
5.6
6.3
5.9
5.9
6.1
6.6
6.6
7.2
1.3
-.6
-1.1
-.8
-.6
—.8
-.3
.7
-2.3
2.3
4.6
-2.6
2.6
5.2
-2.5
2.0
4.6
-2.7
2.4
5.0
-2.9
2.4
5.2
—2.2
3.0
5.2
-2.7
2.8
5.5
-2.4
3.2
5.6
Addenda:
2
New cars, domestic .
New cars, foreign
32.5
7.1
34.3
7.9
31.9
6.9
31.4
7.8
32.8
7.9
37.1
7.2
36.1
8.7
39.9
10.1
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.
Table 8.—Corporate Profits (Before Tax) and Inventory Valuation
Adjustment by Broad Industry Groups (6.12)
AH industries, total.
78.6
88.2
79.4
81.8
86.1
89.6
95.6
100.2
Financial institutions
16.7
17.9
16.6
16.5
17.5
18.3
19.3
19.9
Federal Reserve banks
Other financial institutions..
Nonfinancial corporations
3.3
13.3
3.4
14.5
3.3
13.3
3.4
13.2
3.3
14.2
70.3
62.7
65.2
68.5
3.5
15.9
76.3
3.9
16.0
61.9
3.4
14.9
71.3
Manufacturing
30.9 37.9 31.2 35.4
Nondurable goods
16.8 19.0 16.9 17.7
14.1 18.9 14.3 17.7
Durable goods
Transportation,
communication,
9.0
7.8
7.6
and public utilities
All other industries
22.9 23.4 23.9 22.0
37.0
17.6
19.4
37.9
19.5
18.4
41.3
21.3
19.9
46.2
21.3
25.0
22.8
9.6
23.8
25. r
9.2
24.9
80.3
SURVEY OF CURRENT BUSINESS
6
1971
1972
I
IV
II
1971
1973
1972
1971
June 1973
III
IV
1971
I
1972
580.3 638.6 593.5 613.7 631.9 643.7 665.2 688.8
60.3 67.7 63.0 64.8 68.0 68.4 69.5 70.6
58.9
59.2
60.2
61.7
63.0
64.7
Income originating in corporate business
463.1 510.0 471.6 489.8 503.7 513.7 532.7 553.4
Compensation of employees. _ _
388.8 426.7 398.2 412.2 422.4 429.3 442.7 459.0
374.3 386.4 397.0
Wages and salaries
340.2 372.3 348.1 359.7
Supplements
48.6 54.4 50.1 52.5 53.8 55.0 56.4 62.0
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
Gross product originating in
financial institutions
1.5
1.0
1.2
1.1
1.0
1.0
1.0
1.0
93.4
83.4
72.8 82.3 72.2 76.5
77.4 88.3 76.1 82.9 85.9 89.5 94.8 107.5
37.3 41.3 35.3 38.8 40.1 41.8 44.3 50.6
40.1 47.0 40.8 44.2 45.8 47.7 50.5 56.9
22.2 23.0 21.1 23.0 23.0 23.0 22.9 23.4
17.9 24.1 19.7 21.2 22.8 24.7 27.6 33.5
—4.7 - 6 . 0 —3.9 —6.5 —5.5 - 6 . 1 - 5 . 9 -14.1
100.4 114.7 103.8 109.0 113.8 116.1 120.0 127.5
78.2 91.7 82.7 85.9 90.8 93.1 97.1 104.1
30.9
33.2
0.9
31.4
32.6
33.7
34.9
36.1
Gross product originating in
nonfinancial corporations
549.4 605.5 562.6 582.4 599.3 610.0 630.3 652.7
Capital consumption allowances
58.0 64.8 60.5 62.1 65.2 65.5 66.5 67.5
Indirect business taxes plus transfer
54.3 58.2 56.2 56.5 57.4 58.8 60.2 61.8
payments less subsidies
Income originating in nonfinancial
437.2 482.4 445.9 463.8 476.6 485.7 503.7 523.4
corporations
Compensation of employees
365.0 400.8 373.8 387.0 i6.7 403.1 416.3 431.9
319.6 350.0 327.1 338.0 346.5 351.8 363.6 373.9
Wages and salaries
45.3 50.8 46.7 48.9 50.2 51.3 52.7 58.0
Supplements
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
16.1
17.3
16.6
16.8
17.1
17.4
17.7
92.5
73.9
97.5 101.5 103.2 106.4 113.6
77.2 81.3 83.0
16.2 93.0
Billions of 1958 dollars
Gross product originating in
nonfinancial corporations
438.8 475.7 447.3 459.6 471.7 478.9 492.5 504.4
Dollars
Current dollar cost per unit of
1958 dollar gross product
originating 2in nonfinancial
corporations
1.252 1.273 1.258 1.267 1.271 1.274 1.280 1.294
Capital consumption allowances
Indirect business taxes plus transfer
payments less subsidies
Compensation of employees
Net interest
.132
.136
.135
.135
.138
.137
.135
.134
.124
.832
.037
.122
.843
.036
.126
.836
.037
.123
.842
.037
.122
.841
.036
.123
.842
.036
.122
.845
.036
.122
.856
Corporate profits and inventory valuation adjustment..
.
.128
Profits tax liability
.067
Profits after tax plus inventory valuation adjustment.. .061
.135
.069
.124
.061
.130
.068
.133
.068
.136
.070
.141
.072
.146
.082
.066
.063
.063
.065
.066
.069
.063
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
decimal point shifted two places to the left.
3. Personal saving as a percentage of disposable personal income.
IV
I
Personal income
Wage and salary disbursements
Commodity-producing industriesManufacturing
_.
Distributive industries
Service industries...
Government
Other labor income
Proprietors' income
Business and professional.
Farm
Rental income of persons
Dividends..
Personal interest income
Transfer payments
Old-age, survivors, disability, and
health insurance benefits
State unemployment insurance
benefits
Veterans benefits
Other
Less: Personal contributions for
social insurance
Less: Personal tax and nontax payments
Equals: Disposable personal income...
Less: Personal outlays
Personal consumption expendituresInterest paid by consumers
Personal transfer payments to foreigners
Equals :Personal saving
Addenda:
Disposable personal income:
Total, billions of 1958 dollars..
Per capita, current dollars...
Per capita, 1958dollars
Personal saving rate,3 percent..
861.4
572.9
206.1
160.3
138.2
105.0
123.5
36.5
70.0
52.6
17.3
24.5
25.4
69.6
935.9 881.5
627.0 585.9
224.6 209.9
175.8 162.7
151.5 141.7
116.1 108.4
134.8 125.9
40.3 38.0
75.2 71.8
55.6 53.8
19.6 18.1
25.6 25.0
26.4 25.2
72.9 70.6
93.6 104.0 96.8
44.5 50.2 45.7
907.0
608.0
217.5
168.8
147.2
111.9
131.4
38.8
73.3
54.3
19.1
25.2
26.0
71.0
99.2
922.1
620.5
222.6
174.1
150.1
114.7
133.1
39.8
73.2
54.4
18.7
24.2
26.2
72.7
100.6
939.9
630.8
225.1
176.6
152.4
117.5
135.8
40.8
75.3
56.2
19.1
26.2
26.5
73.4
102.7
974.6 993.9
648.8
233.4
183.9
156.4
120.2
138.8
41.8
79.0
57.4
21.6
26.9
26.7
74.5
113.5
668.1
240.2
189.0
160.5
123.9
143.5
42.7
81.2
58.7
22.5
26.5
27.3
76.3
114.5
46.8
48.1
48.8
57.2
58.5
5.7
11.3
32.2
5.4
12.7
35.7
6.2
11.6
33.3
5.4
11.9
35.1
5.6
12.3
34.6
5.8
12.5
35.6
5.0
14.0
37.3
4.3
13.3
38.5
31.2
35.5
31.9
34.6
35.1
35.8
36.5
42.7
146.4
828.2
765.5
745.7
18.6
143.5
850.4
793.9
773.6
19.0
1.2
62.8
1.2
56.5
117.0
744.4
683.4
664.9
17.6
140.8
795.1
740.2
721.0
18.2
123.0
758.5
699.2
680.5
17.7
136.5
770.5
714.9
696.1
17.8
139.5
782.6
732.5
713.4
18.0
141.1
798.8
748.0
728.6
18.2
1.0
60.9
1.1
54.8
1.1
59.3
1.0
55.7
1.1
50.1
1.2
50.8
554.7 578.5 560.9 565.7 571.4 579.6 597.3 604.9
3,595 3,807 3,649 3,700 3,751 3,821 3,953 4,052
2,679 2,770 2,698 2,716 2,739 2,773 2,851 2,882
7.6
6.4
8.2
6.9
7.8
7.2
6.4
18.0
73.5
56.1 64.4 55.6 59.9 62.8 65.2
60.8 70.4 59.4 66.4 68.4 71.3 75.6 87.6
29.4 33.1 27.4 31.1 32.1 33.5 35.6 41.5
31.3 37.3 32.0 35.4 36.3 37.7 39.9 46.1
19.5 20.2 18.6 20.3 20.3 20.2 20.2 20.6
11.9 17.1 13.5 15.1 16.0 17.5 19.8 25.5
- 4 . 7 - 6 . 0 - 3 . 9 - 6 . 5 —5.5 - 6 . 1 - 5 . 9 -14.1
89.3 102.2
69.8 81.9
III
Table 10.—Personal Income and its Disposition (2.1)
Table 9.—Gross Corporate Product i (1.14)
61.0
II
Billions of dollars
Billions of dollars
C apital consumption allowances.
Indirect business taxes plus transfer
payments less subsidies
56.9
I
1973
Seasonally adjusted at annual rates
Seasonally adjusted at annual rates
Gross corporate product
IV
1972
Table 11.—Personal Consumption Expenditures by Major Type (2.3)
Personal consumption expenditures
664.9 721.0 680.5 696.1 713.4 728.6 745.7 773.6
103.5 116.1 106.1 111.0 113.9 118.6 120.8 130.4
Durable goods
Automobiles and parts
Mobile homes
Furniture and household
ment
Other
equip-
46.7
3.3
52.8
4.0
47.9
3.5
49.9
3.9
51.3
4.1
54.8
3.7
55.2
4.3
60.1
4.8
42.0
14.8
47.6
15.7
43.5
14.7
46.5
14.7
46.8
15.7
47.9
15.9
49.1
16.5
53.0
17.2
278.1 299.5 283.4 288.3 297.2 302.0 310.4 322.6
Nondurable goods
136.4 144.7 137.9 140.3 144.1 145.8 148.5 154.3
56.9 62.0 58.5 59.4 61.5 62.6 64.5 68.3
23.5 25.2 24.3 24.6 24.5 25.4 26.3 27.1
61.3 67.6 62.8 64.0 67.1 68.2 71.0 73.0
Food and beverages
Clothing and shoes.
Gasoline and oil
Other
1
283.3 305.4 290.9 296.7 302.4 308.0 314.5 320.6
Services
99.2 107.2 102.5 104.2 106.1 108.1 110.2 112.4
39.5 43.3 40.7 41.2 42.7 44.0 45.1 45.7
19.9 21.7 20.4 21.0 21.5 21.9 22.4 23.0
124.8 133.3 127.3 130.3 132.0 134.0 136.9 139.5
Housing
Household operation
Transportation
Other
Table 12.—Foreign Transactions in the National Income and
Product Accounts (4.1)
66.9
74.4
63.7
71.5
70.7
75.1
80.3
87.6
Exports of goods and services
_
Capital grants received by the United
States
66.1
73.7
63.0
70.7
70.0
74.4
79.6
87.6
.7
.7
.7
.7
.7
.7
.7
.0
Payments to foreigners
66.9
74.4
63.7
71.5
70.7
75.1
80.3
87.6
65.4
77.9
65.1
75.3
75.2
77.8
83.1
3.6
1.0
2.6
3.7
1.1
2.6
4.0
1.1
2.9
3.8
1.0
2.8
3.8
1.1
2.8
3.8
1.2
2.6
3.3
1.2
2.2
Receipts from foreigners
Imports of goods and services
Transfers to foreigners
Personal
Government
Net foreign investment
_
3.2
1.2
2.0
2 x - 7 . 1 —5.4 - 7 . 7 - 8 . 3 - 6 . 5 - 6 . 1 - 5 . 5
SUKVEY OF CURRENT BUSINESS
June 1973
1972
1971
1971
1972
IV
I
II
1973
III
IV
1971
1971 1972
I
IV
Seasonally adjusted at annual rates
199.1 228.6 202.8 221.4 224.9 229.8 238.4 252.3
Federal Government expenditures
93.8 105.8 107.3 109.1 113.6 109.6
31.1 34.0 35.2 36.7 38.9 44.3
20.5 20.1 20.8 19.9 19.7 20.2 20.6 20.8
55.9 63.4 57.0 61.7 62.6 63.8 65.3 77.6
220.8 246.8 227.5 236.3 246.5 241.6 262.7 260.0
Purchases of goods and services
National defense
Other
97.8 105.8 100.7 105.7 108.1 105.4 104.0 106.6
71.4 75.9 71.9 76.7 78.6 75.1 73.2 75.0
26.3 29.9 28.7 28.9 29.6 30.2 30.8 31.6
Transfer payments
To persons
To foreigners (net)
75.0
72 A
2.6
83.4
80.8
2.6
77.8
74.9
2.9
79.4
76.6
2.8
80.4
77.6
2.8
82.0
79.4
2.6
91.8
89.6
2.2
92.3
90.3
2.0
Grants-in-aid to State and local governments
29.3
37.9
30.8
32.4
38.1
34.4
46.5
41.8
Net interest paid
13.6
13.6
13.3
13.1
13.8
13.6
13.7
14.2
89.6 109.0
33.1 36.2
5.2
6.1
5.0
5.6
6.0
6.2
6.7
5.0
Less: Wage accruals less disbursements
.0
.0
.1
.0
-.1
.0
.0
.0
Surplus or deficit (—), national income and product accounts
-21.7 - 1 8 . 1 -24.7 -14.8 -21.6 - 1 1 . 8 - 2 4 . 3 —7.7
Table 14.—State and Local Government Receipts and Expenditures
(3.3, 3.4)
31.9
5.1
29.2
4.1
30.6
4.7
32.1
4.9
32.0
5.1
32.8
5.4
33.9
6.3
90.0
10.6
37.9
84.8
9.8
30.8
86.8
10.2
32.4
89.0
10.5
38.1
91.2
10.7
34.4
93.1
11.0
46.5
95.6
11.3
41.8
State and local government expenditures
147.0 162.7 152.7 157.7 159.9 164.0 169.3 174.5
Purchases of goods and services.
135.0 148.8 140.2 143.7 146.0 150.2 155.2 160.1
Transfer payments to persons
16.6 18.3 17.2 17.8 18.1 18.4 18.8 19.2
Net interest paid.
-.1 -.1 -.1
.0
.0 - . 1 - . 3 - . 4
Less: Current surplus of government
4.4
enterprises
4.3
4.4
4.3
4.4
4.4
4.5
4.5
Less: Wage accruals less disburse.0
ments
.2 - . 2
.4 - . 6 - . 1
.0
.0
4.8
12.7
6.0
7.1
14.8
9.4
19.5
14.5
Personal saving
Undistributed corporate profits
Corporate inventory valuation adjustment
Corporate capital
consumption
allowances..
Noncorporate capital consumption
allowancesWage accruals less disbursements..
Gross national product
170.8 178.9 176.5 171.6 174.9 176.0 192.9 186.1
60.9
20.5
54.8
26.6
59.3
22.7
55.7
23.5
50.1
25.3
50.8
27.3
62.8
30.5
56.5
36.4
-4.7 -6.0 - 3 . 9 - 6 . 5 -5.5 - 6 . 1 - 5 . 9 -14.1
60.3
67.7
63.0
64.8
68.0
1.4
Durable goods
Nondurable goods.
Services
112.4 112.9 111.3 112.6 113.0 113.5 112.4 113.0
131.7 135.8 133.2 134.2 135.0 136.1 137.7 141.0
147.4 151.8 149.2 150.1 151.2 152.2 153.4 155.5
Gross private domestic investment .
Fixed investment
140.0 146.1 141.2 144.2 145.8 146.9 147.7 149.4
Nonresidential
137.7 142.9 138.6 141.3 142.6 143.5 144.0 145.6
Structures
Producers' durable equipment-.
Residential structures..
Nonfarm
Farm
168.4 184.0 174.9 179.3 182.7 185.0 189.1
124.7 127.5 124.5 126.5 127.4 128.3 127.8 128.4
33.5
.4
36.0
-.3
34.4
34.9
-.8
37.3
-.3
35.8
-.1
Government surplus or deficit (—),
national income and product
accounts.
-16.9 - 5 . 4 -18.7 -7.7 - 6 . 9 -2.4 -4.8
6.8
-21.7 - 1 8 . 1 -24.7 -14.8 -21.6 -11.8 - 2 4 . 3 - 7 . 7
4.8 12.7
6.0
7.1 14.8
9.4 19 5 14.5
.7
.7
.7
.7
.7
.7
.7
.0
149.8 173.3 153.4 160.5 168.7 176.7 187.3 194.2
Gross private domestic investment.. 152.0 180.4 158.8 168.1 177.0 183.2 193.4 199.7
Net foreign investment
-2.1 -7.1 -5.4 -7.7 -8.3 -6.5 -6.1 -5.5
Statistical discrepancy.
2.3 - 1 . 5
-4.8
1.3
-5.2 -4.1 - . 1
146.3 154.0 147.5 151.0 153.3 155.0 156.5 158.8
146.3 154.1 147.6 151.1 153.4 155.1 156.6 158.9
140.9 148.2 141.7 145.6 147.3 148.8 150.2 152.4
Change in business inventories.
125.8 129.7 126.3 127.4 129.1 130.1 132.1 137.0
124.5 132.6 126.0 128.0 131.9 134.3 136.0 140.6
Exports.
Imports .
Government purchases of goods and
services
169.1 178.2 170.7 175.4 176.6 179.2 181.7 186.6
160.8 171.8 161.5 168.2 169.9 173.4 176.2 183.7
175.7 183.1 178.0 181.0 181.9 183.6 185.6 188.6
Federal
State and local.
Table 17.—Implicit Price Deflators for Gross National Product by
Major Type of Product (8.2)
Gross national product.
Final sales
Goods output-
141.61 145.89 142.88 144.68 145.34 146.21 147. 23 149,
).62
. _ U 5 4 146.4 147.4 149.7
141.6 146.0 142.8 144.7
125.8 128.1 126.1 127.2 127.7 128.4 128.9 131.0
119.0 119.9 118.4 119.5 119.9 120.4 119.8 120.3
130.7 134.4 131.6 132.9 133.6 134.6 136.4 140.0
Durable goods
Nondurable goods. _
Services..
159.4 165.7 161.6 163.8 165.0 166.2 167.6 170.7
Structure
159.9 169.9 162.9 167.1 168.8 170.4 173.1 176.6
Addendum:
Gross auto product .
112.5 111.9 108.3 112.1 112.3 113.3 110.0 111.3
Table 18.—Implicit Price Deflators for Gross National Product by
Sector (8.4)
141.61 145.89 142.88 144.68 145.34 146.21 147.23 149.62
135.91 139.49 136.98 138.40 139.00 139.77 140.73 142.89
Business
Nonfarm
Farm
134.3 137.7 135.3 136.7 137.2 137.9 138.9 141.0
134.9 137.5 135.6 136.8 137.2 137.6 138.4 140.2
120.8 143.1 128.1 134.1 137.2 147.7 153.7 165.7
Households and institutions
Rest of the world
200.7 211.8
General government
205.7 221.8 210.1 217.5 220.7 223.1 225.6 231.6
70.6
36.6
.0
Gross investment _
141.61 145.89 142.88 144.68 145.34 146.21 147.23 149.62
Personal consumption expenditures... 134.2 137.4 135.2 136.2 137.0 137.8 138.7 140.6
Private
36.2
.0
FederalState and localCapital grants received by the United
States
I
Table 16.—Implicit Price Deflators for Gross National Product (8.1)
Gross national product
Table 15.—Sources and Uses of Gross Saving (5.1)
Gross private saving.
IV
151.8 175.4 158.7 164.8 174.6 173.4 188.8 188.9
Personal tax and nontax receipts
27.4
Corporate profits tax accruals. _
4.2
Indirect business tax and nontax
accruals
81.4
Contributions for social insurance. _. 9.4
Federal grants-in-aid
29.3
Surplus or deficit ( - ) , national income and product accounts
III
Net exports of goods and services..
Subsidies less current surplus of government enterprises
State and local government receipts
II
Index numbers, 1958=100
Table 13.—Federal Government Receipts and Expenditures (3.1,3.2)
Personal tax and nontax receipts
Corporate profits tax accruals
_.
Indirect business tax and nontax
accruals.
_
Contributions for social insurance.._
I
1973
Seasonally adjusted
Billions of dollars
Federal Government receipts
1972
Table 19.—Gross
National Product: Change from
Period (7.7)
Preceding
Percent at annual rate
Percent
Gross national product:
Current dollars
Constant dollars
Implicit price deflator
Chain price index
7.6
2.7
4.7
5.0
9.7
6.4
3.0
3.7
8.3
6.7
1.5
2.1
12.0
6.5
5.1
5.6
11.4
9.4
1.8
2.7
8.9
6.3
2.4
3.1
11.0
8.0
2.8
3.1
15.2
8.0
6.6
7.3
Gross private product:
Current dollars
Constant dollars
Implicit price deflator
Chain price index
7.4
3.0
4.3
4.5
4
9.7
6.9
2.6
3.1
8.3
7.2
1.0
1.4
11.6
7.1
4.2
4.4
12.1
10.2
1.7
2.3
8.9
6.5
2.2
2.9
11.4
8.4
2.8
2.9
15.2
8.4
6.3
6.8
By JOHN T. WOODWARD
1073 Plant and Equipment Expenditure Programs
BUSINESSMEN expect to spend
$100 billion on new plant and equipment during 1973, according to the survey conducted in late April and May
by the Bureau of Economic Analysis.
This would be a 13.2-percent increase
over last year, compared with increases
of 8.9 percent in 1972 and 1.9 percent
in 1971 (table I). 1
The 1973 advance—if realized—will
be the largest since 1966, when outlays rose 16.7 percent. As in 1966, the
advance reflects stronger expansion in
manufacturing (18% percent) than in
nonmanufacturing (10% percent). This
contrasts with the period 1966-72, when
manufacturers' outlays rose at an
annual rate of only 1.8 percent while
nonmanufacturing investment increased
at a rate of 8.3 percent.
Outlays increased 4.6 percent from
the fourth quarter of 1972 to the first
quarter of 1973, to a seasonally adjusted
annual rate of $96.2 billion. This was
the second successive strong quarterly
gain; the fourth quarter increase was
4.9 percent. Slower expansion is projected for the rest of 1973, with outlays rising 2.5 percent in the second
quarter, 3.3 percent in the third, and
1.6 percent in the fourth (table 2).
Projected spending for the full year
1973 is down slightly—about $500 million or 0.5 percent—from the $100.6
billion projected in February. First
quarter spending was 0.6 percent below
the earlier projection and the second
1. The expectations figures have been adjusted for systematic biases (footnote 2, table 6). Before adjustment, 1973
expenditures were expected to be $99.98 billion for all industries, $38.26 billion for manufacturing and $61.72 billion for
nonmanufacturing. The adjustments were applied separately
to each major industry; their net effect was to lower the
manufacturing total by $1.10 billion and raise nonmanufacturing by $1.24 billion.
8
quarter projection has been cut 1.6 percent. Plans for the second half of the
year are virtually unchanged from those
reported in February.
Nonmanufacturing industries have
lowered projections for the year about
1 percent from the February survey;
electric utilities, airlines, and communications and commercial firms reduced
their projections, while railroads, gas
utilities, and mining companies raised
theirs. Manufacturers have slightly
raised their projections. Projected expenditures were raised by the electrical
machinery, iron and steel, rubber,
Table 1.—Plant and Equipment Expenditures, Annual Percent Changes 1972-73
All industries
Manufacturing 1
Durable goods !
Primary metals 1
Blast furnace, steel works.
Nonferrous
Electrical machinery
Machinery, except electrical
Transportation equipment V
Motor vehicles
Aircraft
Stone, clay, and glass
Other durables *
Nondurable goods 1
Food including beverage
Textile
Paper.
Chemical
Petroleum
Rubber
O ther nondurables 1
Nonmanufacturing
Mining
Railroad
Air transportation
O ther transportation
Public utilities
Electric
Gas and other
Communication
Commercial and other
1972
Expected 1973
as reported in
ctual
Feb.
May
8.9
13.8
4.5
18.0
18.5
10.5
19.6
21.7
-1.1
-9.4
10.0
11.7
18.5
20.7
12.2
41.9
12.2
24.0
10.8
38.6
14.4
12.4
18.4
19.2
22.0
14.2
27.5
20.4
15.5
29.4
18.9
13.1
15.8
14.7
20.2
16.3
36.3
-.7
16.5
15.4
-5.1
18.6
10.5
-10.3
28.2
11.0
18.3
-6.0
25.1
20.3
10.3
37.5
13.8
16.6
-3.2
24.5
20.2
11.5
11.4
-10.1
11.6
9.2
7.5
-6.8
-3.1
13.3
11.9
-10.3
16.6
16.5
17.1
12.8
10.4
15.7
14.9
20.2
10.5
3.3
.3
30.8
5.1
11.1
12.6
3.2
10.4
11.2
4.5
13.2
4.1
43.1
23.5
5.5
7.9
1. Includes industries not shown separately.
Source; U.S. Department of Commerce, Bureau of Economic Analysis.
"other durable goods" and "other nondurable goods" industries, and reduced
by the petroleum, motor vehicle, and
nonferrous metal industries.
The survey findings indicate that
capital spending will rise throughout
1973—although not at the exceptionally high rates of the past fall and winter. These findings are supported by
most factors influencing business investment, which are on balance favorable
to continued high expansion. Funds
generated internally—retained earnings
and capital consumption allowances—
have risen steeply in the past 2 years;
in addition to rising profits and an
expanded capital base, these funds
have been bolstered by the liberalized
depreciation rules adopted in mid-1971
and the investment tax credit enacted
late that year. Although short-term
interest rates have risen in response to
tighter monetary policy and increasing
credit demand, long-term rates have
remained relatively stable. Capacity
utilization in manufacturing has been
rising rapidly; the Federal Reserve utilization rate rose 6 percentage points
from December 1971 to March 1973,
and this BEA survey shows a sharp
further rise in the reported need for
more capacity (table 4) and in the carryover of investment projects underway
(table 3).
The 13-percent spending increase in
1973 indicated by the survey is more
moderate than the 19-percent rise indicated by the spring survey conducted
by the McGraw-Hill Publications Company, although little different from the
14-percent figure obtained by Lionel D.
Edie and Company. Differences between private surveys and the BEA
survey result largely from the size and
SUEVEY OF CURRENT BUSINESS
June 1973
9
Table 2.—Plant and Equipment Expenditures, 1972-73
is isy2 percent, with durable goods
producers expecting a 22-percent increase and nondurable goods producers
1972
1973
a 15-percent increase. All major
industry groups except textiles expect
1st
2d
3rd
4th
2d
1st
3rd
4th
Qtr.
Qtr.
Qtr.
Qtr.
Qtr.
Qtr.i
Qtr.i
Qtr.i
increases, with the largest increases expected
by the rubber, nonferrous metal,
86.79
87.12
96.19
87.67
91.94
98.57
101.80
103.44
All industries _
paper,
and "other durable goods"
30.09
30.37
33.64
30.98
35.51
37.05
38.01
M anufacturing
37.78
industries.
15.06
14.77
15.67
Durable goods
16.86
19.14
17.88
19.27
19.68
15.02
15.60
15.31
17.63
16.78
18.34
17.91
18.50
Nondurable goods.
The 1973 increase is scheduled to take
Nonmanufacturing..
56.70
56.75
56.70
58.30
61.52
63.79
65.66
place primarily in the first half of the
year, and all manufacturing industry
1. Expected.
Source: U.S. Department of Commerce, Bureau of Economic Analysis.
groups except petroleum expect to
composition of the samples used and outlays reported in the year-earlier spend more in the first half than in the
from differences in processing tech- quarter: In the first quarter of 1973, 57 second half of 1972. Outlays are exniques. The private survey samples have percent of the companies reported over- pected to rise 4% percent in the second
considerably fewer reporters than the the-year increases in outlays, about the quarter, 2% percent in the third, and
BEA sample, and consist primarily of same percentage as in the fourth to decline 0.6 percent in the fourth
the larger firms. It may be noted that quarter; the figure in the first quarter of quarter. The indicated increase from
large manufacturing firms in the BEA 1972 was 49 percent.
the second half of 1972 to the first half
sample—those with assets of $50
The expected increase in manufac- of 1973 is 12 percent; a 4-percent inmillion or over—expect to spend 27% turers' investment for the full year 1973 crease is expected for the second half.
percent more this year than last, not
very different from the 29-percent in- Table 3.—Starts and Carryover of Plant and Equipment Projects, Manufacturing and
Public Utilities, 1970-73
crease for manufacturing shown by the
[Billions of dollars!
McGraw-Hill survey. The full BEA
Carryover
Starts i
sample of manufacturers, including
smaller firms, reports an expected in1972
1973
1793
1972
\nnua
crease of 22 percent, but the figure after
I
IV
III
Mar. June Sept. Dec. Mar.
1970 1971 1972
I
II
adjustment for the systematic upward
bias in manufacturers' expectations is
29.18 28.00 35.35 7.87 8.31 8.88 10.15 11.08 18.76 19.44 20.58 21.36 24.63
isy2 percent. This adjustment for sys- Manufacturing 3 „ . _
Durable goods
14.04 13.59 17.07 3.71 3.98 4.30 5.08 5.34 9.52 9.79 10.22 10.54 11.95
tematic bias, which is not made in the
3.60
.91
Primary metals
2 55 2 44 3.19
.61
.79 1.16 2.96 2.92 3.14 3.12
88
McGraw-Hill survey, is described in the
1.72
.71 1.58 1.62
1.61 1.57
.60
.76
.57
.42
2.18 1.82 2.34
Electrical machinery
.98
1.14
.84
.87
.73
.80
.88
.76 1.00
.63
3.29 2.59 3.11
Machinery, except electical
February 1970 issue of the SURVEY,
2.81
.59
.88 2.43 2.40 2.50 2.55
.73
.56
.77
2.04 2.34 2.66
Transportation equipment *
.80
.40
.62
.74
.36
.37
.34
.36
.81
Stone, clay, and glass
.84
.82
.94 1.46
pages 20-21, 36-39. For nonmanufacNondurable goods3
. . . 15.14 14.42 18.28 4.16 4.33 4.58 5.07 5.74 9.24 9.66 10.36 10.82 12.68
turing industries, the bias correction
1.50
1.43
.72 1.08 1.13 1.29
.80
.64
.68
.86
Food including beverage
2 50 2 49 3.13
raises the BEA projection of the 1973
.35
.21
.27
.29
.12
.31
.31
.18
.15
.18
49
71
64
Textile
.94
.84
1.16
.83
.54
.79
.39
.34
.33
.58
Paper
1 54 1 00 1 60
increase by 2 percentage points, but the
3.50
2.80
2.54
2.83
1.57
2.56
.87
.96
1.08 1.01
Chemical
3 06 3 25 3.92
4.62
5.64 5.14 6.15 1.39 1.49 1.51 1.76 1.74 3.40 3.55 3.78 3.99
Petroleum
.
McGraw-Hill projection is still larger
Public
utilities
17.20 22.22 28.60 9.16 5.04 5.20 9.19 11.88 35.80 36.61 37.42 41.87 49.80
by 4 points; here, the entire difference
is attributable to differences in the
Adjusted for senisonal variation
composition of the reporting panels.
[Billions of dollars, seasonally adjusted annual rates]
2
3
5
Manufacturing programs
Manufacturers' outlays rose 5.6 percent in the first quarter to a seasonally
adjusted annual rate of $35.5 billion,
following an increase of 8.6 percent in
the fourth quarter. These two large
gains are in marked contrast to the
small advances over the preceding 3
years. Table 5 provides a measure of
the pervasiveness of the recent expansion. Outlays reported by each manufacturing company in the survey sample
in each quarter of 1972 and the first
quarter of 1973 were matched with the
505-385 O - 73 - 2
Manufacturing 3_ _ _
7.81
8.43-
9.28
9.73 10.89 18.35 19.19 20.72 22.04
24.05
Durable goods3 _.
3.63
4.09
4.53
4.84
5.19
9.28
9.67 10.29 10.91
11.64
80
37
68
.54
.30
68
67
73
.55
.42
.91
.63
.85
.72
.35
.84
.65
.84
.85
.40
.99
.69
.94
.87
.30
2.88
1.51
.78
2.42
.59
2.90
1.62
.83
2.36
.74
3.26
1.62
.97
2.63
.85
3.49
1.64
1.10
2.80
.81
4.18
4.35
4.74
4.89
5.70
9.07
9.52 10.43 11.12
12.41
.70
18
.31
.87
1 40
.64
16
.41
.86
1 62
.84
.15
.35
1.12
1 59
.80
.14
.53
1.08
1.54
.79
.31
.54
1.46
1.72
1.08
.31
.75
2.49
3.29
1.12
.28
.82
2.52
3.53
1.44
.23
.99
2.93
4.05
1.51
.35
1.10
3.42
4.47
6.40
6.16
7.59
8.92
7.94 33.75 35.76 39.10 43.64
46.99
Primary metals
Electrical machinery
Machinery, except electrical-_
Transportation equipment4
Stone, clay, and glass _
Nondurable goods 3_
Food including beverage
Textile
.
Paper
Chemical
Petroleum _
Public utilities
3.12
1.64
.93
2.47
.79
1.28
.26
.85
2.80
3.87
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.
. .
5. Seasonally adjusted data for starts and carryover have been revised for all periods since the beginning of the series in the
fourth quarter of 1962.
NOTE.—Details may not add to totals because of rounding.
Source: U.S. Department of Commerce, Bureau of Economic Analysis.
SURVEY OF CURRENT BUSINESS
10
Manufacturers9 starts and carryover
of investment projects and evaluation of capacity
Table 4.—Manufacturers' Evaluation of Their Capacity
[Percent distribution of gross capital assets]
1
1973
1972
1971
June 1973
The value of new projects started by
manufacturers rose 12 percent (seasonally adjusted) from the fourth quarMore plant and equipment needed:
ter to the first (table 3); starts have
44
40
All manufacturing.
37
31
30
31
33
30
increased
in each of the past seven
35
25
39
Durable goods 2
25
25
24
28
34
21
30
25
24
Primary metals. 3
19
25
19
18
quarters
but
the latest rise is the
24
36
40
43
25
26
Metal fabricators _ _
_. . .
24
28
35
36
35
36
37
40
43
47
Nondurable goods 2
largest
in
that
period.2 Starts by non32
35
34
39
35
33
35
31
Food including beverage
Chemical
42
46
43
40
45
46
48
46
durable goods producers advanced 17
44
54
40
Petroleum
38
39
40
40
38
percent—centered in the chemical, peAbout adequate:
troleum, and textile industries—and
55
All manufacturing
_. _
58
53
59
57
62
60
61
starts
by durables producers increased
56
56
64
60
61
56
Durable goods 2
63
61
62
60
68
Primary metals _ 3
70
60
57
56
57
7
percent.
54
63
64
65
64
57
50
Metal fabricators
63
55
51
57
60
Nondurable goods 2
59
58
59
58
Starts exceeded capital expenditures
58
62
56
53
57
57
65
Food including beverage
58
45
55
50
51
53
53
52
Chemical
55
in
the first quarter, resulting in an inPetroleum .
62
62
61
60
60
60
56
46
crease
in carryover—the amounts still
Existing plant and equipment exceeds
needs:
to be spent on projects already under3
7
All manufacturing
7
6
5
11
11
9
way. Seasonally adjusted carryover
2
5
12
15
11
11
15
10
9
Durable goods
.
totaled
$24.0 billion at the end of
25
2
17
19
18
16
Primary metals _
,..
11
21
11
6
9
7
7
Metal fabricators 3
13
8
13
March, up $2 billion or 9 percent from
2
2
2
7
7
4
4
Nondurable goods 2__
6
end-December. The March carryover
3
9
9
10
11
3
12
3
Food including beverage
9
4
5
2
3
3
2
Chemical
2
was 2.71 times the amount of spending
0
0
0
0
0
0
Petroleum ._ . .
0
0
in the first quarter, compared with a
1. According to respondent companies' characterizations of their plant and equipment facilities, taking into account their
ratio of 2.62 at the end of December and
current and prospective sales for the next 12 months.
2. Includes industries not shown separately.
2.44 at the end of March 1972.
3. Includes machinery, transportation equipment, and fabricated metals industries.
Manufacturers reported a further
Source: U.S. Department of Commerce, Bureau of Economic Analysis.
tightening in the adequacy of their
facilities during the first quarter (table
ft
4). Companies owning 44 percent oi
ft
ft
ft
ft
fixed assets in manufacturing reported
that their facilities as of March 31 were
Table 5.—-Percentage of Sample Firms in Manufacturing Reporting Change in Plant and inadequate, taking account of prospecEquipment Expenditures From Year-Earlier Quarter. Four Quarters of 1972 and First
tive sales over the next 12 months,
Quarter of 1973
compared with 40 percent as of DecemPercentage of firms
Percentage of firms
increasing expenditures
decreasing expenditures l
ber 31 and 31 percent in March 1972.
The "more needed" percentage rose
1973
1972
1972
1973
for most of the durable goods indusI
IV
I
II
III
IV
I
I
II
III
tries; in nondurables, the petroleum
industry
accounted for the increase.
49
37
37
Manufacturing
54
58
44
51
39
57
42
The
"about
adequate" percentage
35
35
Durable goods
50
54
56
60
43
37
39
59
declined to 53 percent as of March 31
43
Primary metals..
43
39
47
54
58
45
51
48
53
47
Blast furnace, steel works .
.
50
49
50
30
40
68
58
51
49
from
55 percent at December 31.
Nonferrous
47
36
39
49
46
44
49
48
57
62
32
Electrical machinery33
29
62
Companies reporting facilities in ex55
59
59
64
38
36
31
62
41
33
Machinery, except electrical- 53
38
50
54
60
41
cess of needs accounted for 3 percent
32
Transportation equipment.
31
56
34
46
56
67
63
47
36
June 30
Motor vehicles
Aircraft.
Stone, clay, and glass
Other durables
.
Nondurable goods
Food including beverage
Textile
Paper
Chemical
Petroleum
Rubber
Other nondurables
"
Sept. 30
Dec. 31
Mar. 31
June 30
Sept. 30
Dec. 31
Mar. 31
47
29
58
54
67
38
65
53
69
49
60
56
75
62
63
57
68
60
56
57
49
62
37
38
31
51
30
38
26
35
36
36
25
34
34
36
28
30
40
38
47
48
50
54
54
46
46
43
40
39
50
59
37
44
44
50
55
45
51
44
45
52
52
50
56
62
52
54
61
54
45
35
60
49
48
40
40
49
45
40
52
42
44
42
44
31
42
38
33
39
39
54
45
40
55
49
38
62
52
36
64
52
41
67
50
59
44
44
60
43
44
60
34
39
61
36
36
59
28
40
1. The percentages shown do not add to 100 since the companies reporting no change in expenditures are not shown.
Source: U.S. Department of Commerce, Bureau of Economic Analysis.
2. Seasonally adjusted figures on starts and carryover have
been revised for all periods since the beginning of the series
in the fourth quarter of 1962. Data for 1971 and earlier years
will be published i n a future issue of the SURVEY. T h e revised data have been calculated b y seasonally adjusting the
carryover data and deriving seasonally adjusted starts b y
adding seasonally adjusted expenditures to the change in
seasonally adjusted carryover. Formerly, starts were seasonally adjusted directly, and seasonally adjusted changes
in carryover were derived b y subtracting seasonally adjusted
expenditures from seasonally adjusted starts. The estimates
for total manufacturing were not significantly changed b y
this revision, b u t the estimates for several industries were.
SUEVEY OF CURRENT BUSINESS
June 1973
of fixed assets at March 31, down from
5 percent at December 31.
1972. Public utilities project strong
growth; the demand for new electric
generating facilities has resulted in a
Nonmanufacturing programs
steady growth in spending over the
Nonmanufacturing industries re-v past several years, and projected 1973
ported spending at a seasonally adjusted spending is almost double the spending
annual rate of $60.7 billion in the first in 1968. Starts of new projects by
quarter, 4 percent above the fourth utilities in the first quarter of 1973
quarter. The projected gains for the rest totaled $7.9 billion, exceeded only by
of the year are 1.4 percent in the the record $8.9 billion reported for the
second quarter, 3.7 percent in the third, fourth quarter of 1972. Carryover
increased $3.3 billion in the quarter to
and 2.9 percent in the fourth.
For the full year 1973, nonmanufac- $47.0 billion at the end of March.
Railroads have boosted their planned
turing industries project a 10%-percent
gain, compared with 11% percent in 1973 outlays and now expect an increase
11
of about 12 percent, compared with 7%
percent last year. Airlines expect to
reduce outlays 10 percent in 1973 following a huge rise to a record volume
last year.
The communications and mining
industries expect spending increases this
year—10K percent and 13 percent,
respectively—about the same as the
increases last year.
The "commercial and other" group—
trade, service, construction, finance and
insurance—expects an increase of 8
percent, compared with 11 percent last
year.
Table 6.—Expenditures for New Plant and Equipment by U.S. Business,1 1970-72
[Billions ofdollars]
1971 1972
Quarterly, seasonally adjusted annual rates
Quarterly, unadjusted
Annual
II
1973
1972
1971
19732
III
IV
II
III
IV
II
up
III
1973
1972
1971
IV
I
II
III
IV
I
112
HI2
All industries.—
81.2188.44 100.12 17.68 20.60 20.1 22.79 19.38 22.01 21.86 25.20 21.50 24.93 25.32 79.32 81.61 80.75 83.18 86.79 87.1: 87.67 91.94%. 19 98.57 101.80
Manufacturing industries-
29.99 31.35 37.16 6.69 7.55 7.31 8.44 6.61 7.63 7.7'
Durable goods
9.38 7.80 9.28 9.43 30.46 30.12 29.19 30.35 30.09 30.37 30.98 33.64 35.51 37.05 38.01
14.15 15.64 19.03 3.11 3.52 3.40 4.12 3.29 3.71 3.86 4.77 3.92 4.78
Primary metals 3
_
Blast furnace, steel works
Nonferrous..
2.78 2.75
_ 1.3; 1.24
1.08 1.18
3.31
1.44
1.53
.65
.33
.24
.72
.33
.29
.65
.32
.26
.76
.40
.28
.61
.25
.28
.65
.31
.25
Electrical machinery
Machinery, except electrical
2.14 2.39
2.80 2.90
2.84
3.28
.41
.65
.53
.73
.52
.62
.68
.80
.45
.58
Transportation equipment 3
Motor vehicles
_
Aircraft*
Stone, clay, and glass
Other durables»
2.13
1.51
.38
.85
3.45
2.93
2.10
.52
1.40
5.28
.4'
.33
.09
.20
.72
.50
.34
.09
.19
.86
.54 .62
.38 .46
.10 .10
.21 .25
.85 1.02
.55
.39
.09
.26
.84
Nondurable goods
2.53
1.83
.43
1.20
3.87
15.84 15.72 18.13 3.58 4.03 3.91 4.3:
4.83
.67
.27
.33
.82
.35
.38
.83
.31
.30
.80
.37
.35
.56
.58
.72
.80
.90
.56
.71
.73
.80
.63
.46
.10
.28
.91
.63 .72 .62 .7'
.45 .53 .43 .54
.14
.11 .12 .1:
.29 .38 .33 .36
.95 1.17 1.03 1.31
.71
.82
.72
.51
.13
.34
1.41
3.88 4.50
4.60
3.32 3.92 3.87 4.61
.3:
.3:
Food including beverageTextile.
...
Paper
_.
Chemical
2.69 2.55
.61 .73
1.25 1.38
3.44 3.45
2.98
.70
1.72
4.14
Petroleum
Rubber
Other nondurables «_.
5.85 5.25
.84 1.08
1.15 1.27
5.46 1.31 1.46 1.51 1.5: 1.08 1.34 1.28 1.56 1.10 1.28 1.44
1.55 .19 .19 .20 .26 .21 .24 .28 .35 .36 .42 .38
1.57 .26
.26 .32 .27 .31 .31
.37 .41 .37
Nonmanufacturing industries..
Mining
Railroad
Air transportation
.62
.12
.29
.78
.74
.16
.30
.88
.66
.16
.31
.81
.68
.18
.35
.96
.56
.18
.27
.75
.63
.19
.35
.85
.70 .66
.17 .18
.32 .44
.81 1.04
.65 .78 .79
.18 .18 .16
.36 .42 .43
.87 1.01 1.02
62.96 10.99 13.06 12.83 14.35 12.77 14. 38 144.12 15.83 13.69 15.65 15.89
11.22 57.09
57.
2.16
2.42
2.74
.49
.54
.58
.55
.61
.59
.71
.63
14.21 14.06 13.76 14.61 15.06 14.77 15.67 16.86 17.88 19.14
19.68
3.08 2.91 2.56 2.66 2.82 2.63 2.76 2.78 3.08
1.60 1.33 1.26 1.35 1.24 1.25 1.23 1.26 1.32
1.08 1.22 1.01 1.01 1.27 1.05 1.20 1.22 1.42
3.34
1.41
1.57
3.34
1.48
1.50
2.26 2.14
2.85 2.60
2 25 2.41 2.65 2.73
2.73 2.99 3.20 3.23
2.96
3.14
2.95
3.37
2.38
1.82
.35
.91
3.56
2.48 2.40 2.76
1.79 1.72 2.08
.43 .42 .42
1.09 1.22 1.36
4.10
3.59
3.02
2.09
.55
1.42
5.25
2.82
2.00
.50
1.45
5.75
1.94 2.13 2.1:
2.88 2.90 2.58
2.16 1.97 2.06
1.48 1.33 1.44
.44 .37 .39
.87 .72 .90
3.29 3.42 3.50
2.48
1.71
.45
1.12
3.90
2.81
1.97
.56
1.38
4.65
16.25 16.06 15.43 15.74 15.02 15.60 15.13 16.78 17.63 17.91
18.34
3.02
.69
1.66
3.94
3.09
.64
1.70
4.32
5.24
1.72
1.64
5.61
1.52
1.45
2.76 2.84 2.52 2.65 2.46 2.42 2.73 2.59 2.85
.61 .68 .82 .74 .66 .70 .79
.55
1.20 1.29 1.27 1.39 1.27 1.56 1.70
1.34
3.53 3.29 3.30 3.38 3.78
3.40
.3.39
3.43
5.92
5.45 4.99 5.54 4.98 5.45 5.19
6.07
6.06
.86 .78 .80 .94 .92 .97 1.11 1.29 1.57
1.20 1.27 1.24 1.18 1.40 1.
1.19
.99
1.26
48.86 51.50 51.56 52.82 56.70 56.75 56.70 58.30 60.68 61.52
1.72 1.64 2.10
63.79
2.68
2.90
1.50 1.71 2.11
1.75
2.05
2.04 2.08 2.23 2.30 2.42 2.38 2.40 2.46 2.59
1.67 1.
2.01
.34
.47
.42
.48
.48
.47
.46
.46
.50
1.46
1.88 2.46
2.21
.34
.60
.39
.50
.73
.63
.52
.68
.46
1.29 2.28 1.68 2.26 1.96 2.89 2.67 2.33 2.21
2.58
2.03
Other transportation
1.38 1.46
1.54
.37
.32 . .39
.42
.40
1.
1.41 1.42 1.53
1.58
1.61
Public utilities..
Electric.
Gas and other.
5.30 17.00 19.66 3.11 3.83
.2.86 14.48 16.64 2.70 3.20
2.44 2.52 3.03
.41 .63
LO. 77 11.89 13.14
2.50 2.81
L8. 05 20.07 21.65
3.94 4.44
Communication
7
Commercial and other _
.28
.36
4.07 4.29 3.63 4.24
3.35 3.60 3.19 3.61
.71
2.62
4.42
2.84
5.26
.44
.62
2.72 2.95
4.55 4.98
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 b y business in late April
and May 1973. The estimates for the second quarter, and third quarter of 1973 have been
corrected for systematic biases. T h e adjustment procedures are described in the February
1970 issue of the SURVEY OF CURRENT BUSINESS. Before such adjustments, 1973 expenditures
were expected to be $99.98 billion for all industries, $38.26 billion for manufacturing, and
$61.72 billion for nonmanufacturing.
3. Includes data not shown separately.
.40
.32
1.40 1.48 1.
1.48 1.5
4.74 3.95 4.75 5.24 14.64 14.91 15.87 15. 74 16.9216.60 17.01 17.53 8.38 18.68 20.18
3.67 4.01 3.45 4.00 4.36 12.16 12.61 13.56 .3.01 14.27 14.32 14.62 14.67 .5.40 15.92 17.22
.72
2.48 2.30 2.30 2.74 2.65 2.27 2.38 2.86 2.98 2.76 2.96
.74
.73 .50
11.56 12.63 12.34
J10.70 11.21 10.73 .0.44 11.71
2.84
'34.25 35.03
3.39 2.87 >8.66 8.57
17.72 17.85 19.10 20.10 19.88 20.16 20.21 21153
4.97
5.57 4.94
[n.a
4. Includes guided missiles and space vehicles.
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.
Source: U.S. Department of Commerce, Bureau of Economic Analysis.
NOTE.—Details m a y not add to totals because of rounding.
By ETIENNE MILLER and GORDON P. SMITH
International Travel, Passenger Fares,
and Other Transportation in the
US. Balance of Payments: 1972
CHART 2
U.S. Payments and Receipts for
Travel and Transocean Passenger Fares
Billion $
7
Payments, Including
Fares to Foreign Carriers
J_ HE net U.S. deficit on international
travel and transportation transactions
last year was $2.9 billion, $0.6 billion or
24 percent more than in 1971 (table 1).
U.S. payments for these services increased 14 percent to nearly $9.9 billion, while U.S. receipts increased 10
percent to $7.0 billion. Net U.S. payments for international travel and
passenger fares were $3.0 billion, up from
$2.5 billion in 1971; other transportation transactions recorded a surplus of
$0.2 billion, about the same as in 1971.
Stimulated by strong domestic eco-
nomic growth, U.S. residents traveled
overseas in record numbers in 1972
despite substantially higher prices for
U.S. travelers than in 1971, reflecting
rapid inflation abroad and the effect of
the December 1971 dollar devaluation.
U.S. travelers' total expenditure in
foreign countries increased 14 percent.
The average dollar expenditure per U.S.
traveler to oversea areas increased only
2% percent, as the average trip lengthened slightly. Evidently, the higher
prices for travel were largely offset by a
reduction in real expenditure.
Table 1.—International Travel, Passenger Fares, and Other Transportation Transactions
[Millions of dollars]
1968 r
1969 r
1970 r
1971'
6,282
3,030
886
2,367
1,349
651
367
6,943
3,407
1,080
2,456
1,390
671
8,000
3,969
1,215
2,816
1,534
809
473
8,646
4,278
1,290
3,078
1,769
868
441
9,880
4,856
1,580
3,444
2,032
934
478
8. Total travel, passenger fare, and other transportation receipts
9.
Travel: Receipts from foreign visitors in the U.S. (line 4).__
10.
Passenger Fares: Foreign passenger fares payments to U.S. carriers
(line 5).
11.
Other transportation (line 6)
12.
Freight receipts of U.S. carriers
_
13.
Port expenditures in the U.S. by foreign carriers...
14.
Other receipts
4,734
1,775
5,160
2,058
5,987
2,330
6,359
2,464
7,027
2,706
411
2,548
817
1,589
142
450
2,652
787
1,701
164
544
3,113
1,000
1,905
615
3,280
952
2,089
239
694
3,627
1,046
2,326
255
15. Net travel, passenger fare, and other transportation payments
1,548
1,783
2,013
2,287
2,853
885
815
4,730
3,407
1,080
895
5,382
3,969
1,215
985
6,169
4,278
1,290
1,065
6,633
4,856
1,580
1,280
7,716
1,775
2,058
2,330
2,464
2,706
260
2,035
303
2,361
377
2,707
425
2,889
494
3,200
1. Total travel, passenger fare, and other transportation payments
2.
Travel: Payments by U.S. visitors in foreign countries (line 18)
3.
Passenger Fares: U.S. payments to foreign carriers (line 19)
4.
Other transportation (line 20)
5.
Freight payments to foreign carriers on U.S. imports
6.
Port expenditures abroad by U.S. carriers
7.
Other payments
Receipts, Including
Fares to U.S. Carriers
.
V>
Receipts From
Visitors in the United States
16.
17.
18.
19.
Memorandum:
Travel payments of U.S. visitors in foreign countries (line 18).
Plus: U.S. passenger fare payments to foreign carriers
Plus: U.S. passenger fare payments to U.S. carriers
Equals: Total expenses of U.S. visitors
20.
21.
Memorandum:
Travel receipts from foreign visitors in the U.S. (line 4)
Plus: Foreign passenger fares to and from the U.S. paid to U.S.
carriers
Equals: Total U.S. receipts from foreign visitors
22.
I
I960
I
I
62
I
I
64
I
I
66
U.S. Department of Commerce, Bureau of Economic Analysis
12
I
68
I
I
70
1972
I
72
'Revised
NOTE.—References in parentheses to lines 4, 5, 6,18,19, and 20 indicate where these estimates may be found in tables 2
and 3 of the regular balance of payments presentations.
Source: U.S. Department of Commerce, Bureau of Economic Analysis.
SURVEY OF CURRENT BUSINESS
June 1973
U.S. travel receipts rose 10 percent,
despite a decline in Canadian travel
outlays here. The dollar devaluation
may have had some expansionary
influence on foreign travel spending in
the United States, for there was
vigorous growth both in numbers of and
expenditures by visitors from oversea
areas where currencies were revalued.
This article reviews 1972 developments in the travel, passenger fare, and
other transportation accounts in the
U.S. balance of international payments.
Table 2.—Travel Payments of U.S. Visitors
in Foreign Countries, by Area
[Millions of dollars]
1968
1969
1970
1971
1972
3,030 3,407 3,969 4,278
4,85
Transocean passenger fares are discussed as part of the review of total
spending by U.S. residents traveling
abroad and of spending by foreign
visitors in the United States. (The
article includes data on passenger fares
paid by U.S. travelers to U.S. transocean carriers, which do not enter into
the balance of payments but do represent an important part of total spending
by U.S. travelers; see table 1, memorandum items.) U.S. carriers' receipts of
passenger fares from foreigners for
travel between foreign countries, which
do enter into the balance of payments,
are reported in this article. Also reviewed are freight payments to U.S. and
foreign air and sea carriers and the
carriers' port expenditures.
13
have been stimulated by the fact that
the peso-dollar exchange rate remained
unchanged, while a number of other
currencies appreciated against the
dollar.
In contrast to the pattern overseas
and in Mexico, travel outlays in Canada
declined 7 percent in 1972, to $1,036
million, compared with a 6-percent rise
in 1971. Much of the estimated decline,
CHART 3
U.S. Payments and Receipts for Passenger
Fares and Other Transportation
Billion $
5.5
r
5.0 -
Total travel payments
Canada
Mexico
Persons visiting Mexican border only
Oversea areas
820
638
900 1,045 1,111
692
740
832
390
405
4*6
1,572 1,815 2,184
Europe and Mediterranean area
Western Europe
440
1,036
950
448
2,335
2,870
993 1,160 1,425 1,540
1,853
925 1,075 1,310 1,373
1,645
United Kingdom._
France
Italy
Switzerland
198
92
141
74
229
141
140
83
293
160
172
108
324
169
178
99
342
200
Germany
Austria
Denmark
Sweden
111
40
30
18
114
43
32
20
148
54
39
24
126
52
38
22
163
64
46
32
Norway
Netherlands .
B elgium-Luxembourg
Spain
23
40
23
41
31
44
25
44
39
57
16
56
18
80
22
85
22
105
31
152
Portugal
Ireland
Greece
Other
Western
Europe . _ _ __
20
32
28
25
36
37
29
42
40
31
52
63
37
36
84
6
13
19
23
28
Other Europe and
Mediterranean
area
Israel
Other _
68
36
32
85
44
41
115
62
53
167
110
57
208
124
84
West Indies and Central America
325
375
390
408
504
50
105
78
56
132
85
63
127
95
62
120
90
69
144
105
38
42
44
56
60
19
16
18
28
40
35
44
86
92
43
90
52
87
92
113
167
188
279
295
400
60
26
70
35
97
53
88
50
121
20
61
27
56
34
95
47
110
50
159
Bermuda.
Bahamas
Jamaica
Other British West
Indies
Netherlands West
Indies
Other West Indies
and Central America
South America
Other oversea areas
Japan
Hong Kong
Australia-New Zealand
Other
215
119
70
NOTE.—Excludes travel by military personnel and other
Government employees stationed abroad and by their
dependents and U.S. citizens residing abroad; includes
shore expenditures of cruise travelers, but not their transportation fares or other passenger fares.
Source: U.S. Department of Commerce, Bureau of
Economic Analysis.
U.S. Expenditures for Travel
Abroad
U.S. residents spent $7.7 billion for
travel to foreign countries last year,
over $1 billion or 16 percent more than
in 1971 (table 1). Foreign countries
received $6.4 billion of the total,
including $1.6 billion in passenger
fares paid to their sea and air carriers for
transocean transportation and more
than $4.8 billion in outlays in foreign
countries for food, lodging, transportation, and other items (table 1, lines
2 and 3). U.S. travelers also paid nearly
$1.3 billion to U.S. carriers for transocean transportation, but this amount
does not enter into the U.S. balance of
payments.
In April 1972, transocean air carriers
raised their fares to U.S. residents by
7 percent to reflect the new exchange
rates. The new fares, together with the
sharp rise in the number of U.S.
travelers, were major factors in a
25-percent rise in fares paid to foreign
air carriers, compared with only a
6-percent increase in 1971.
Of the $4.8 billion of U.S. travel
outlays in 1972, about $2.9 billion was
spent in oversea areas. This was 23
percent more than in 1971, compared
with a rise of only 7 percent that year
(table 2).
U.S. travelers' outlays in Mexico
totaled $950 million in 1972, up 14
percent compared with a 12% percent
rise in 1971. Travel to Mexico may
4.5
_
4.0
-
3.5
-
Total Payments
Total Receipts
/
/
/
/
/—
3.0
Receipts Excluding
Passenger Fares
/
2.5
2.0
-
Payments Excluding
Passenger Fares
^
1.5
i
1.0
1.0
i
i
i
t
i
i
i
i
i
t
i
-
1960
62
64
66
70
72
NOTE.—Totals consist of passenger fares, freight transportation charges,
charter hire, and carriers' port expenditures.
U.S. Department of Commerce, Bureau of Economic Analysis
73-
14
SURVEY OF CURRENT BUSINESS
however, probably reflected a change
in the statistical system for reporting
border entries and departures, which
reduced the reported volume of travel
on which the expenditure estimates
are based. However, part of the decline
may have been due to bad weather
conditions last summer.
Nearly 99 percent of the 6.8 million
U.S. oversea travelers in 1972 traveled
by air (table 4). The number traveling
by ship dropped to less than 75,000,
from 95,000 in 1971 and 120,000 in 1970.
Sea cruises, however, continued to grow
in popularity, and 657,000 U.S. residents took cruises in 1972, up 4 percent
from 1971.
atlantic air fares beginning in April Table 4.—U.S. Travelers to Oversea Countries by Means of Transportation and by
1972, average passenger fare payments
Area
were $368, slightly below the 1971 level.
[Thousands of travelers]
This virtual stability may have been
1968 1969 1970 1971 1972
related to the unusually large proportion of travelers who made their trips
Total .
3,885 4,623 5,260 5,667 6,790
in the off-season periods, when lower
Sea
147
151 120
95
73
Air
3,738 4,472 5,140 5,572 6,717
fares are offered.
and MediterraThe average travel outlay within Europe
nean
1,937 2,363 2,898 3,202 3,843
Western
Europe
1,880 2,285 2,783 3,030 3,666
the European-Mediterranean area was
Indies and Central
$482, also essentially unchanged from West
America
1,461 1,700 1,663 1,736 1,992
1971 (table 3). The average duration of South America
245 249
223
254
338
stay was extended by 1 day to 27 days, Other
264 315
450
475
617
and the daily outlay averaged about
NOTE.—For coverage, see table 2; excludes cruise travelers,
$18.00, down from $18.50 in 1971. who
numbered about 380,000 in 1968, 530,000 in 1969, 557,000
in
1970, 629,000 in 1971, and 655,000 in 1972.
The average tourist visited 2.6 counSource: U.S. Department of Commerce, Bureau of Ecotries, also about the same as in 1971 nomic
Analysis, based on data of U.S. Department of Justice, *
Immigration
and Naturalization Service.
but below the 3.0 countries visited in
1970 and earlier years.
Not all countries in the European- down are not now available). All of
Mediterranean area shared equally in these factors are influenced by the
the 1972 increase in travelers' spending. changing tastes of tourists; changes in
As shown in table 3, the increase can be local political atmosphere; tourism probroken into two components for each motion programs of various countries;
country: the change in the number of and changing costs for travel, including
travelers and the change in their aver- the impact of inflation and of changes
age spending. Change in average spend- in exchange rates.
ing, in turn, reflects change in the length
In 1972, three countries showed a
of stay in the country and change in significant loss in their share of total
spending per day (details on this break- spending: the United Kingdom, Ire-
Travel to Europe and the
Mediterranean
The number of U.S. travelers to
Europe and the Mediterranean area,
their total passenger fare expenses,
and their travel outlays abroad, each
increased about 20 percent from 1971
to 1972. The average trip expense—
counting both transatlantic fare and
travel outlay abroad—was about $850
in 1972, about the same as in 1971.
Despite the 7-percent increase in trans-
June 1973
Table 3.—Number of U.S. Travelers and Their Average and Total Travel Payments in Europe and the; Mediterranean
Number of
travelers
(thousands)
Europe and Mediterranean _
Western Europe.
United Kingdom—
France
Italy
Switzerland -
.
Percent
of total
travelers
Average
spending
per
traveler
(dollars)
Total
spent
Percent
in each
of total
country
(millions of spending
dollars)
N u m b e r of
travelers
(thousands;
Average
spending
per
traveler
(dollars)
Total
spent
Percent
in each
of total
country
(millions of spending
dollars)
Number
of
travelers
Average
spending
per
traveler
Total
spent
in each
country
3,202
100.0
481
1,540
100.0
3,843
100.0
482
1,853
100.0
20.0
0.2
20.3
94.6
453
1,373
89.2
3,666
95.4
449
1,645
88.8
21.0
-.9
19.8
1,358
42.4
30.4
25.5
21.7
239
324
6.4
200
215
119
6.4
9.9
14.4
19.5
16.5
5.6
179
219
147
18.5
10.8
11.6
-4.2
976
811
38.8
29.0
25.4
21.1
342
169
178
99
1,492
1,115
229
174
216
142
21.0
11.0
11.6
2.9
1.4
3.5
18.3
20.8
20.2
157
120
137
128
126
52
38
22
8.2
3.4
2.5
1.4
964
537
361
212
25.1
14.0
170
119
127
148
163
64
46
32
8.8
3.5
2.5
1.7
19.8
22.8
29.5
24.7
8.3
-.9
29.4
21.7
19.8
45.5
170
96
25
44
1.6
2.9
197
98
39
57
2.1
3.1
32.4
27.3
17.7
32.8
975
817
696
805
438
279
170
Norway...
Netherlands
Belgium-Luxembourg...
Spain
148
461
310
481
14 4
9.7
15.0
71
219
22
105
Portugal
Ireland
Greece
Other W. Europe
208
232
260
150
223
244
31
52
63
274
6.5
7.2
8.1
n.a.
n.a.
n.a.
n.a.
300
313
9.4
9.8
25 1
13.7
8.7
5.3
4.6
196
587
9.4
5.5
5.1
1.4
6.8
365
639
15.3
9.5
16.6
83
237
31
152
2.0
3.4
4.1
267
190
324
6.9
4.9
8.4
138
190
259
37
36
84
2.0
1.9
4.5
23
1.5
349
n.a.
n.a.
28
1.5
n.a.
167
10.8
n.a.
n.a.
n.a.
208
11.2
n.a.
365
182
110
57
7.1
3.7
319
453
8.3
11.8
386
185
124
84
6.7
4.5
44.7
n.a. Not available.
1. Data for other Europe and Mediterranean are included in Europe and Mediterranean
totals but not in Western Europe totals.
Percent
of total
travelers
3,030
Germany
Austria
Denmark _
Sweden.
Other Europe and MediterraneanIsrael
Other
. .
Percent Change 1971-72
1972
1971
1.7
8.2 !
28.4
-18.1
24.6
27.5
6.3
-7.5
15.6
15.9
2.1
16.9
8.2
-8.0
-14.8
6.1
n.a.
n.a.
5.8
1.6
56.0
29.5
40.9
44.8
19.4
-30.8
33.3
21.7
24.6
12.7
47.4
NOTE.—For coverage, see table 2; data on average spending excludes shore expenses of cruise
travelers.
Source: U.S. Department of Commerce, Bureau of Economic Analysis; based on data of
Department of Justice, Immigration and Naturalization Service.
SUKVEY OF CURRENT BUSINESS
June 1973
land, and Israel. The United Kingdom's
share of the total fell from 21.0 percent
in 1971 to 18.5 percent in 1972; the
number of travelers there rose only 9.9
percent, compared with the 20.0-percent
rise in the total for the EuropeanMediterranean area, and average expenditure per traveler fell 4.2 percent
from $239 to $229. These developments
may have been partly related to the
fluctuations of the pound sterling
against the dollar. In the early part of
1972, when travel plans for the summer
were being formulated, sterling had appreciated against the dollar and this
probably held down the number of visitors. But sterling depreciated sharply
against the dollar at midyear; thus,
when travelers arrived their sterling
expenses measured in dollars were lower
than they otherwise would have been,
and this probably contributed to the
drop in average spending. The political
problems in Northern Ireland probably
contributed to the reduction in the
number of travelers to the Republic of
Ireland, and the drop in their average
spending may have reflected shorter
stays. In the case of Israel, the increase
in the number of travelers (6.3 percent)
was significantly below the average.
Countries which showed substantial
increases in their share of total spending
can be divided into two groups: (1) relatively high-cost countries such as Germany, Sweden, Norway, Netherlands,
and Belgium, whose currencies appreciated against the dollar (increasing
dollar costs of travel) but which nevertheless experienced average or above
average increases in the number of U.S.
visitors; (2) relatively low-cost countries such as Spain (whose currency also
Table 5.—Average Length of Stay of U.S.
Travelers In Selected Regions
[Days]
Region
1968
Europe and Mediterranean.
1969
1970
1971
1972
30
29
27
26
27
Caribbean area. _
n.a.
n.a.
11
10
11
Bermuda
Bahamas
n.a.
n.a.
n.a.
n.a.
7
5
7
5
6
6
South America
n.a.
Far East and other areas._. n.a.
n.a.
n.a.
22
28
20
27
21
30
n.a. Not available.
NOTE.—For coverage, see table 2; excludes cruise travelers.
Source: U.S. Department of Commerce, Bureau of Economic Analysis.
appreciated against the dollar) and
Greece (whose currency was stable
against the dollar), both of which experienced especially large increases in
the number of U.S. visitors.
In other major tourist countries—
France, Italy, and Switzerland—the
number of visitors increased somewhat
less than the average but average spending increased enough to keep each country's share of total spending roughly
unchanged.
Western Hemisphere and
Pacific
The West Indies and Central America received over $500 million from
U.S. travelers in 1972. This was a
gain of nearly $100 million or 24 percent, after 2 years of minor advances.
The number of travelers increased
sharply, from about 1.7 million, in
1971 to 2.0 million, and average outlay
per traveler also rose. The Bahamas
earned $144 million, up 20 percent
from 1971 after 2 years of decline.
Spending in Jamaica increased 17 percent to $105 million, and in Bermuda
it rose 11 percent to $69 million; both
countries had registered a decline in
1971. Spending in other West Indies
and Caribbean areas continued the
Table 6.—U.S. Receipts From Foreign
Visitors in the United States
[Millions of dollars]
1968
Total U.S. travel receiptsCanada .
Mexico__
1969 1970' 1971 «•
1,775 2,058 2,330 2,464
650
493
815
530
896
545
1972
2,706
934
565
922
615
632
713
965
1,169
226
42
30
44
22
12
12
14
50
264
43
34
55
24
14
10
16
67
318
51
39
67
29
19
14
15
84
367
67
48
79
33
22
13
16
452
96
63
93
40
23
18
21
98
West Indies, Central
and South America...
South America
262
140
276
144
334
164
325
162
343
174
Other oversea countries.
Japan
144
51
172
67
237
101
273
134
374
205
Total oversea countries
Western Europe
United Kingdom
France
Germany...
Italy-.-Netherlands
Sweden
Switzerland
Other
r
Revised.
NOTE.—Includes expenditures of travelers for business
and pleasure, foreigners in transit through the United States,
and students; excludes expenditures by foreign government
personnel and foreign businessmen employed in the United
States (who are U.S. residents for balance of payments
purposes). Transocean passenger fares are also excluded.
Source: U.S. Department of Commerce, Bureau of Economic Analysis.
15
rapid growth of recent years, rising
37 percent in 1972. In South America
both the number of American visitors
(340,000) and their total spending
($113 million) increased substantially,
following virtual stability in 1971.
Marked increased were recorded in
1972 in U.S. travel to "other areas/'
primarily the Pacific and Far East.
The number of travelers grew 30 percent to over 600,000, average expenditure per traveler rose, and total travel
payments increased 36 percent to $400
million, compared with a gain of 6
percent in 1971. Much of the growth
in both travel volume and spending
occurred in Japan and Hong Kong,
two of the Pacific area's major tourist
attractions. In Japan, Americans spent
$120 million, nearly 38 percent more
than in 1971, and outlays in Hong
Kong were up 40 percent to $70
million. Both countries had experienced
a decline in 1971. On the other hand,
spending in Australia and New Zealand
increased only about 7 percent in 1972,
to $50 million, following a 40-percent
increase in 1971.
Foreign Visitors to the United
States
U.S. receipts from foreign visitors
increased 11 percent in 1972 to a record
$3.2 billion. The total includes $2.7
billion spent in the United States and
$0.5 billion in fares paid to U.S.
transocean carriers for passage to and
from the United States.
Canadian spending for travel here
declined $12 million, or about 1 percent, to $922 million. Receipts from
Mexico, on the other hand, increased
9 percent to $615 million. In 1971,
receipts from both Canada and Mexico
had increased about 4 percent. The
change in data-recording procedures
which was cited as affecting the estimate of U.S. travel spending in Canada
is also believed to account for much of
the estimated slump in Canadian travel
to the United States last year. However, poor weather and floods in the
United States may also have had an
impact.
Oversea visitors spent $1.2 billion in
the United States last year, a 21percent increase over 1971. U.S. car-
SURVEY OF CURRENT BUSINESS
16
CHART 4
U.S. Payments and Receipts for
Carriers' Port Expenditures
I960
62
64
66
U.S. Department of Commerce, Bureau of Economic Analysis
68
70
73-6-4
riers' earnings from these foreign visitors increased 16 percent. There were
nearly 2.9 million visitors from oversea
areas in 1972. Three-fourths came on
pleasure trips, the remainder on business, in transit to other destinations,
or as students.
Japan led all oversea countries in
travel to the United States, both in
number and in total travel expenses
here. More than 400,000 Japanese
visited in 1972, an increase of 34 percent. Their travel outlays in the United
States rose 53 percent to $205 million.
Expansion of Japanese travel to the
United States speeded up in months
following the August 1971 exchange
rate changes—which resulted in an
especially large appreciation of the
yen against the dollar.
European visitors to the United
States numbered 1.3 million last year,
up 17 percent from 1971, and they
spent about $450 million here, up 23
percent. About 30 percent of the
Europeans were residents of the
United Kingdom. The number of British visitors increased 19 percent to
389,000, their average expenditure in
this country rose, and their total outlay increased more than 40 percent
to $96 million. The number of German
visitors increased 17 percent to 237,000
and their spending rose 18 percent to
$93 million. The number of French
visitors increased 17 percent to 157,000
and their spending rose over 30 percent
to $63 million.
The number of visitors from the
West Indies, Central and South
America increased only about 3 percent
in 1972, following a decline in 1971,
and remained below the record set in
1970. Total receipts from the area rose
less than 6 percent to $343 million.
This relatively slow expansion was
probably related to the fact that
Western Hemisphere currencies either
maintained their parity with the dollar
or were devalued against the dollar.
International Passenger Fares
and Other Transportation
Transactions
The international transportation
account of the U.S. balance of payments
comprise payments and receipts for
ocean and air movement of goods and
travelers (passenger fares) between
the United States and foreign countries; U.S. receipts also include foreigners' payments to U.S. carriers for
transporting goods and travelers
between foreign points. Also included
are port expenditures of foreign carTable 7.—Foreign Visitors to the United
States From Oversea Countries, by Area
and Type of Visa
[Thousands of travelers]
Total
Oversea countries,
total:
1972
1971
Europe:
1972 . .
1971
ries in the United States (receipts)
and of U.S. carriers in foreign countries (payments); international receipts
and payments for ship charters; transactions with Canada and Mexico for
rail and pipeline operations; and Great
Lakes international shipping activities.
U.S. residents paid $5.0 billion in
1972 to foreigners for international
transportation activities; 15 percent
more than in 1971 (table 1, lines 3 and
4, and table 8). Transocean passenger
fares, which increased 22 percent, accounted for $1.6 billion of the total.
U.S. receipts from transportation transactions were $4.3 billion, up 11 percent
from 1971 (table 1, lines 10 and 11,
and table 8). Port expenses of foreign
air, ocean, Great Lakes, and railroad
operators in the United States which
increased 10 percent, accounted for
$2.3 billion of the total. Passenger fare
receipts (almost wholly for air travel)
increased 13 percent to $0.7 billion,
while receipts from carrying ocean
freight were up 8 percent to $0.8 billion.
Receipts from ocean freight and from
foreign ocean carriers' port expense here
were favorably affected by carryovers
resulting from the late-1971 work stoppage at U.S. ports.
(Continued on page 56)
Table 8.—International Passenger Fares
and Transportation Transactions, 1968-72
[Millions of dollars]
Type of transportation
Total payments
Busi- Pleas- Tran- Stuness
ure
sit
dent
2,861
2,490
370
320
2,194
1,893
222
200
75
77
1,306
1,113
203
182
986
832
104
89
13
10
West Indies
and Central
America:
1972
1971
451
428
23
20
387
366
27
27
14
15
South America:
1972
.
1971
312
311
24
21
253
251
24
27
11
12
Other oversea areas:
1972
1971
June 1973
3,252 3,535 4,031 4,368
5,024
Ocean passenger fare
190
245
236
215
Other ocean transportation
1,836 1,850 2,108 2,232
Import freight
1,269 1,281 1,420 1,610
Port expenditures
313
289
264
289
Charter hire
305 375 333
278
865
970 1,054
695
Air passenger fare
516 611
Other air transportation. 442
738
79
Import freight
109
115
158
580
363
407
496
Port expenditures
2,538
1,860
313
365
1,316
793
172
621
Other
Total receipts
792
638
120
97
568
444
67
57
37
40
NOTE.—Excludes visitors from Canada and Mexico;
excludes foreign government personnel and foreign businessmen employed in the United States. Data are not adjusted
for multiple entries on a single trip.
Source: U.S. Department of Justice, Immigration and
Naturalization Service.
1968 1969 1970 1971 1972
90
97
108
113
2,959 3,102 3,657 3,894
4,321
Ocean passenger fare
7
Other ocean transporta1,902 1,925 2,243 2,269
tion
813
750
644
Freight
690
Port expenditures
1,206 1,270 1,394 1,474
Other.
Air passenger fare
Other air transportationFreight.
Port expenditures
Other..
Net payments.
264
405
510
127
383
1
11
36
45
2,450
811
1,603
36
443
573
142
431
541
699
187
512
614
817
202
61*
693
958
235
723
135
153
171
193
219
293
433
374
474
703
Source: U.S. Department of Commerce, Bureau of Economic Analysis.
By JACK J. BAME
US. Balance of Payments Developments: First Quarter 1973
NOTE.—In Highlights and Perspectives,
Max Lechter wrote the section on Merchandise
Trade and R. David Belli, the section on
Corporate Capital Flows.
http://fraser.stlouisfed.org/
505-385 O - 73 - 3
Federal Reserve Bank of St. Louis
intervene in support of fixed margins
vis-a-vis the dollar and other currencies.
At the same time, many European
countries intensified their controls on
incoming capital.
A good part of the increased capital
outflow in the quarter was accounted
for by short-term capital channeled
through banks, as foreigners made
heavy drawings on their assets and
credit lines with banks in the United
States. Direct investment outflows were
also large, rising to a record quarterly
level. Although direct investment is
classified in the long-term capital
accounts, the outflow in the first quarter
was probably strongly affected by
more immediate factors, including
expectations of exchange rate changes.
Such expectations and the related
widening of short-term interest rate
differentials between the United States
CHART 5
Balances on Major U.S. International Transactions
Billion $
Billion $
4
16
-
8
Transactions
^<—
A
0
\
-8
—
\
^
.
-
\
Current Account and
Long-Term Capital
-24
-32
-
-40
-
-48
-
V
-
- -6
\
- -8
-
- -12
1
-56
1
1
1
I
1
t
1 1
i
i
i
1
i
i
i
i
i
i
i
i
t
i
16
-
8
Merchandise Trade*
Q
Current Account
-8
t
-16
1967
i
68
l
69
l
70
1
71
72
Annually
-2
- -4
1
-16
a1i -
"X
Net Liquidity
2
-
1
C O N T R A S T I N G shifts among the
major accounts characterized U.S. balance of payments developments in the
first quarter of 1973. Reported private
capital outflows—mostly short-term—
as well as net payments through unrecorded transactions (errors and omissions) showed a very large rise, which
led to sharp increases in the net
liquidity deficit and the official reserve
transactions deficit. On the other hand,
there was a decline in the deficit on
current account transactions, largely
reflecting a narrowing of the merchandise trade deficit. The deficit on current
account and long-term capital also
declined slightly, to its lowest level in 2
years, as an increase in direct investment outflows was more than offset by
the combined improvement in merchandise trade, Government capital flows,
and other net long-term private capital
flows.
The large rise in capital outflows in
the first quarter was mostly associated
with two periods of exchange market
uncertainties. The first followed the
creation of a two-tier system for the
Italian lira and the subsequent floating
of the Swiss franc near the end of
January, and culminated with the 10percent devaluation of the dollar on
February 12 and the floating of the
Japanese yen. The second developed
at the end of February and led to a
suspension of official intervention in
exchange markets in a number of major
countries in early March. Subsequently,
the German mark was revalued an
additional 3 percent and six of the nine
Common Market countries decided to
maintain narrow exchange rate margins
among themselves while* ceasing to
Quarterly, Seasonally Adjusted
* Excludes exports under military grants and U.S. military agency sales contracts and
imports of U.S. military agencies.
U.S. Department of Commerce, Bureau of Economic Analysis
17
i
SURVEY OF CURRENT BUSINESS
June 1973
tually no change but there were significant developments on both the receipts
and payments sides. Income on U.S.
direct investments abroad, including
fees and royalties, rose more than $0.1
billion and reached $3.1 billion, surpassing the record set in the previous
quarter and representing, at an annual
rate, a flow about 20 percent above the
1972 total. Income receipts of U.S.
petroleum companies accounted for a
rising share of the total, and there were
Current account transactions
also substantial inflows through the
The merchandise trade deficit de- United Kingdom. Income on other priclined almost $0.8 billion in the first vate assets also increased nearly $0.1
quarter to less than $1 billion, as billion, as the worldwide escalation of
exports rose considerably more than interest rates continued. Payments on
imports (see Highlights and Perspec- foreign investment in the United States
tives—Merchandise Trade). Agricul- rose more than $0.2 billion. The rise
tural shipments accounted for a large was centered in payments on U.S. Govpart of the export increase, followed ernment liabilities, largely reflecting the
by industrial supplies and materials accumulation of these liabilities by forand capital equipment. On the import eign official agencies and higher shortside, industrial supplies and materials, term interest rates.
especially petroleum and related prodThe net result of all the above transucts, led the advance. Most of the im- actions and those associated with other
provement in the trade balance was services, which showed virtually no
with Western Europe and Japan. There change, was a $0.9 billion improvement
was a small improvement in the balance in the balance on goods and services,
on military transactions (excluding which eliminated the deficit in that
transfers under military grants) as de- balance. There was little change in
liveries under military sales contracts remittances, pensions, and other transincreased.
fers but there was a $0.1 billion reducNet investment income showed vir- tion in U.S. Government grants
(excluding military), mainly due to a
repayment to the United States associated with the earlier termination of
the European Monetary Agreement.
Thus, the current account deficit declined $1.0 billion to less than $0.8
billion.
18
and leading international money centers, especially the London Eurodollar
market, probably were the major factors contributing to the large errors
and omissions outflow, as well as the
bank-reported outflows. Consequently,
outflows of both nonliquid and liquid
funds, reported and non-reported, in the
first quarter were probably mostly
concentrated in the periods of exchange
market uncertainties noted above.
Long-term capital flows
Net long-term capital flows, including
Government and private, moved unfavorably by nearly $0.7 billion in the
first quarter to an outflow of nearly
$0.5 billion. The Government accounts
shifted favorably by more than $0.2
billion, mainly because of sales of
Export-Import Bank loans to the Japanese monetary authorities and prepayments by several countries for military
equipment to be delivered later. Among
net private long-term capital flows, the
dominant element was direct investment outflows, which increased almost
$1.4 billion from the fourth quarter to
reach $2.1 billion. Exchange marketrelated intercompany transfers, and increases in plant and equipment spending
by U.S.-owned affiliates abroad, were
among the leading factors in this outflow (see Highlights and Perspectives:
Corporate Capital Flows). The major
share of the outflow was to petroleum
affiliates in Western Europe and the
Middle East. Foreign direct investment
Table A.—Summary of U.S. International Transactions
[Millions of dollars, seasonally adjusted]
1971
Line
Lines in table 2, 3, and 9 in which transactions are included are
indicated in ( )
Merchandise trade balance (2,16).
Services, net (3-13,17-27)
1970
2,176
'1,464
1971
1972
Change
1972
IV73-1
1973
1972
I
-2,698
3,507
-6,912
2,301
129
825
II
-917
1,048
III
IV
I
II
III
IV
-385 -1,525 -1,820 -1,774 - 1 , 573 -1,745
665
965
875
446
634
348
IP
-960
961
785
86
871
3,630
807
-4,609
954
131
280
-560 -1,374 -1,426
-939
-870
1
-1,481
-1,553
-1,570
-365
-374
-409
-405
-373
-429
-400
29
2,150
-745
-6,179
589
-243
-129
-965 -1,765 -1,801 -1,312 -1,299
-399
900
-1,734
-2,045
-2,174
-438
-485
-549
-573
-452
-351
101
416
-2,790
-8,353
151
-728
-678 -1,538 -2,343 -2,364 -1,893 -1,751
-750
1,001
U.S. Government capital flows, net, and nonliquid liabilities
-2,018
to other than foreign official reserve agencies (33, 48)
-1,429
Long-term private capital flows, net (39-41, 44, 49-51, 53)
-2,359
-4,401
-1,339
-151
-344
-120
242
-901
Balance on goods and services
Remittances, pensions and other transfers (31, 32).
Balance on goods, services, and remittances
U.S. Government grants (excluding military) (30).
Balance on current account
Balance on current account and long-term capital
Nonliquid short-term private capital flows, net (42, 45, 52).
Allocations of SDR (63)
Errors and omissions, net (64).
Net liquidity balance
Liquid private capital flows, net (43, 46, 54).
Official reserve transactions balance
i> Preliminary.
NOTE.—Details may not add to totals because of rounding.
-642
-575
-598
-895 -1,691 -2,018
-391
-578
-544
-289
201 -1,143
-375
-563
-95
604
-581
-366
-393
-586
781
-1,214
342
-982
-1,420
-438
177
177
178
-940 -1,626 -1,490
-4,237
-3,031
-9,550
-9,842 -1,386 -2,994 -3,294 -1,881 -3,775 -1,855 -2,652 -1,556
-482
-2,347
-1,637
-517
-516
-535
867
717
-1,205 -10,784
710
-3,112
180
179
179
179
-949 -2,391 -5,511 -1,933
178
944
-492
-822
310
-430
-177
-2,747
-3,851 -21,965 -13,882 -2,672 -5,698 -9,448 -4,151 -3,188 -2,307 -4,531 -3,851 -6,871
-3,020
-5,988
-7,788
3,542 -2,958
-647 -2,434 -1,749
-288
1,456
7
2,367
-3,631
-5,998
-9,839 -29,753 -10,340 -5,630 -6,345 -11,882 -5,900 -3,476
-851 -4,524 -1,484 -10,502
-9,018
SURVEY OF CURRENT BUSINESS
June 1973
CHART 6
Changes in Selected Foreign
Exchange Rates 1
Percent change from parity with
U.S. dollar on March 31,1970
30
12 COUNTRIESz
20
Dec. 18, 1 9 7 1 3
10
0
1
-10
20
,
.
,
1 ,
, , I
I
, , I
CANADA
10
0
40
JAPAN
30
20
10
0
1 ,
-10
20
,
UNITED KINGDOM
10
0
-10
40
WEST GERMANY
30
20
10
0
30
FRANCE
20
10
1 0
-
February and was probably associated
with the hectic foreign exchange market
activity. At that time, foreigners drew
heavily on their assets and credit lines
with U.S. banks and with U.S. agencies
and branches of foreign banks. Additional but smaller outflows occurred in
March as the interest rate spread between the United States and the Eurodollar market favored borrowing here
and lending in Europe (see chart 7).
Based upon preliminary and incomplete
data, nonliquid short-term claims reported by nonbanks are estimated to
have shifted favorably by almost $0.5
billion in the first quarter; however,
this account has been subject to considerable revision in recent quarters as
more complete data become available.
Outflows associated with transactions not covered by the reporting system (errors and omissions) shifted adversely by $2.7 billion to more than $4.2
billion in the first quarter, an outflow
CHART 7
U.S.-Foreign Short-Term Interest Rate
Differential and Change in U.S.
Short-Term Bank Reported Claims
Percent
4
90-Day Eurodollar Rate Less
U.S. Rate on 90-Day
Bankers' Acceptances
Billion $
41
Change in Liquid and
Nonliquid Short-Term
Bank Claims*,
Short-term capital flows
ITALY
-10
1970
in the United States was up nearly $0.1
billion. A good part of the net inflow
was accounted for by two European
takeovers of U.S. firms. In contrast to
previous periods of exchange market
upheaval, there was an absence of
large-scale transfers from the United
States to Japan by Japanese trading
companies here.
Net U.S. purchases of foreign securities shifted favorably by almost $0.1
billion, as a decline in new Canadian
bond issues in the United States more
than offset a shift to small net U.S.
purchases of European stocks. Foreigners' net transactions in U.S. securities
(other than Treasury issues) were virtually unchanged from the fourth quarter. Their net purchases of U.S. stocks
rose to a record $1.3 billion (see chart
8), a favorable shift of $0.2 billion from
the already high level of the fourth
quarter, but there was an offsetting
decline in new issues sold abroad by
U.S. corporations, as these bonds lost
favor in February and March. About
40 percent of the new issues sold were
convertible.
Net long-term capital outflows reported by U.S. banks were less than $0.2
billion, a favorable shift of $0.3 billion;
long-term claims on foreigners increased
somewhat less than in the fourth quarter
and there was a $0.2 billion shift, to an
increase, in long-term liabilities to
international organizations, mostly associated with an increase in time deposits held by the World Bank.
The adverse shift of nearly $0.7 billion in long-term capital flows, netted
against the $1.0 billion improvement
in the current account, resulted in a
reduction of more than $0.3 billion in
the deficit on current account and longterm capital. That deficit amounted to
$1.2 billion in the first quarter.
19
71
72
73
1. Spot rates at end of quarter.
2. U.S. trade - weighted average of Canada, Japan, United Kingdom,
West Germany, France, Italy, Netherlands, Belgium, Switzerland,
Denmark, Sweden and Norway.
3. Represents the percent change between parity on March 31, 1970 and
the central rates established in the Smithsonian agreement on
December 18, 1971.
U.S. Department of Commerce, Bureau of Economic Analysis
73-(
Net short-term nonliquid private
capital outflows showed a marked increase for the third successive quarter,
rising $0.4 billion to a record of more
than $1.4 billion. The outflow on bankreported nonliquid claims was $1.8
billion, an increase of $0.9 billion. The
major part of the outflow was to Japan,
mainly in the form of loans and items
in the process of collection; it occurred in
I
1
\
1970
1971
1972
1973
•Increase+ , decrease- (reverse of balance of payments signs).
U.S. Department of Commerce, Bureau of Economic Analysis
73-6-7
SURVEY OF CURRENT BUSINESS
20
exceeded only in the third quarter of
1971. Much of the outflow was probably
related to the exchange market uncertainties before the mid-February devaluation and at the begining of March,
before the suspension of official intervention in exchange markets and the
subsequent introduction of floating
rates.
There is no new SDR allocation in
1973, in contrast to the previous 3
years, and this resulted in an unfavorable shift of almost $0.2 billion from
the fourth quarter of 1972 to the first
quarter. This shift, plus the $0.4 billion
increase in recorded short-term nonliquid private capital outflows and the
$2.7 billion rise in unrecorded outflows
resulted in a total adverse shift of $3.4
billion; with the $0.3 billion improvement in the balance on current account
and long-term capital serving as only a
marginal offset, the net liquidity deficit
thus deteriorated by about $3.0 billion,
to $6.9 billion.
There was a very large adverse shift
of about $6.0 billion in net liquid
private capital flows, to an outflow of
$3.6 billion. A decline in liquid liabilities
and an increase in liquid claims each
accounted for about half of the $3.6
billion outflow, but liquid liabilities
accounted for a much larger share of
the $6.0 billion adverse shift than did
I^HHHHHHHaHHH
CHART 8 Financing the official reserve transactions balance
Net Foreign Purchases of U.S. Stocks
1970
1971
1972
U.S. Department of Commerce, Bureau of Economic Analysis
liquid claims. The shift in liabilities—
especially to foreign branches of U.S.
banks and to the head offices of U.S.
agencies and branches of foreign
banks—was $4.4 billion, while the shift
in liquid claims, mostly bank-reported,
was $1.6 billion. There was an increase
in demand for Eurodollars by foreign
banks seeking to meet the demand for
dollar loans by borrowers who wanted
to switch out of dollars into currencies
that were candidates for appreciation
against the dollar. This tended to push
Eurodollar rates substantially higher
and to widen the spread between them
and U.S.-money market rates of comparable maturities. This created an incentive for U.S.-based banks to repay
Eurodollar borrowings. The same
factors—expectations of exchange rate
changes and the interest rate differential—probably contributed to unrecorded outflows from the United
States. The constellation of interest
rates also favored borrowing by
foreigners in the United States and
their lending abroad (see chart 7).
Adding the $6.0 billion unfavorable
shift in liquid private capital flows to
the $3.0 billion increase in the net
liquidity deficit results in a $9.0 billion
increase in the official reserve transactions deficit, to $10.5 billion. The
first quarter deficit exceeded the deficit
for the entire year 1972.
1973
U.S. liquid liabilities to foreign official
reserve agencies rose $9.1 billion in the
first quarter, financing about seveneighths of the official reserve transactions deficit. There was also an unusual
$1.2 billion rise in other readily marketable liabilities to foreign official agencies
(see footnote 6, tables 1, 2, and 8 and
Technical Notes in the September and
December 1972 SURVEY articles). This
category includes nonliquid liabilities
to foreign official agencies reported by
U.S. banks, previously shown separately, and reported net purchases by
foreign official agencies of debt securities of U.S. Government corporations
and agencies, private corporations, and
State and local governments. These instruments may be regarded as a part of
foreign official reserves, whether or not
June 1973
the country involved includes them as
part of its published offiical reserve
holdings. (^Foreign official agencies'
transactions through intermediaries
present problems of identification and/
or confidentiality.) There was a $0.2
billion decline in U.S. official reserve
assets, mainly convertible currencies
utilized in exchange market operations
supporting the dollar before the midFebruary devaluation.
Highlights and Perspectives
Merchandise trade
The merchandise trade balance improved $0.8 billion in the first quarter
as the deficit declined to under $1
billion (seasonally adjusted) from more
than $1.7 billion in the fourth quarter.
The improvement was strongly influenced by favorable developments in
the month of March. (The improvement
continued in April, when the trade
balance moved into a small surplus,
the first since September 1971.)
Exports rose $2.1 billion in the first
quarter to $15.3 billion, while imports
rose $1.3 billion to $16.3 billion. There
were sharp export gains in January
and March, while a strong rise in imports in January was followed by
virtually no further expansion in the
next 2 months. (In April, imports
actually declined and exports rose
further.) At a seasonally adjusted
annual rate, the first quarter trade
deficit was $3.8 billion compared to the
1972 full-year deficit of $6.9 billion.
Exports were at an annual rate of
$61.3 billion, more than 25 percent
above the 1972 total of $48.8 billion;
imports, at an annual rate of $65.1
billion, were 17 percent above the 1972
total of $55.7 billion. (Allfiguresare
revised, and are on the usual balance
of payments basis excluding "military,"
as shown in tables 1, 2, 3, and B-2.
Trade totals including "military" can
be found in tables 4 and B-l.)
Exports
A very large share of the export
expansion in the first quarter was in
agricultural shipments, reflecting strong
foreign demand, tight world supplies,
and sharply higher prices. These shipments normally comprise less than one-
SURVEY OF CURRENT BUSINESS
June 1973
billion (seasonally adjusted); the previous high had been set in the fourth
quarter (see table B-l). Deliveries to
the Soviet Union rose 50 percent but
that accounted for only $100 million
of the agricultural export rise. Con-
fifth of total exports, but they accounted for over one-half of the total
export rise. Aided by a 10-percent increase in average prices, agricultural
exports rose $1.1 billion, or more than
40 percent, to a new high of $3.8
21
sidering the exceptionally high level of
agricultural exports in the first
quarter—a seasonally adjusted annual
rate of $15.3 billion compared to the
record annual total of $9.5 billion in
1972—and in view of developing do-
Table Bl.—U.S. Merchandise Trade, by Principal End-Use Categories—Reconciled to Balance of Payments Basis
[Millions of dollars]
Seasonally adjusted
Line
(Numbers in parentheses ( ) refer to line numbers in table 4)
1970
1971
1972
1971
II
1972
III
IV
1973
II
III
IV
Change:
1972
IV1973
I
EXPORTS
Total, adjusted to balance of payments basis, including "military" 1
(6)
43,073
43,959
49,628
11,170
11,146
11,796
9,847
11,871
11,747
12,564
13,446
15,529
2,083
Less; Exports under U.S. military sales contracts identified in Census documents (7)
1,109
1,191
859
298
355
274
264
216
208
202
233
209
-24
Equals: Total, adjusted to balance of payments basis, excluding "military" (8)
41,964
42,768
48,769
10,872
10,791
11,522
9,583
11,655
11,539
12,362
13,213
15,320
2,107
7,343
34,621
7,806
34,962
9,489
39,280
2,067
8,805
1,957
8,834
2,129
9,393
1,653
7,930
2,215
9,440
2,188
9,351
2,398
9,964
2,688
10,525
3,820
11,500
1,132
975
5,833
5,714
6,074
5,932
7,473
7,308
1,589
1,556
1,508
1,471
1,628
1,597
1,349
1,309
1,626
1,585
1,798
1,760
1,927
1,885
2,121
2,078
3,098
3,044
977
Industrial supplies and materials (23) adjusted*
Agricultural*
Nonagricultural *.
13,800
1,526
12,274
12,729
1,786
10,943
14,022
2,084
11,938
3,304
486
2,818
3,288
463
2,825
3,559
509
3,050
2,571
330
2,241
3,522
607
2,915
3,216
406
2,810
3,488
486
3,002
3,807
583
3,224
4,306
744
3,562
499
161
338
Capital goods, except automotive (34)
Machinery, except consumer-type (35)
Civilian aircraft, complete—all types (44a).
14,371
11,570
1,528
15,119
11,593
1,918
16, 670
13,134
1,707
3,818
2,964
475
3,771
2,871
498
3,931
3,034
452
3,600
2,721
493
4,061
3,199
435
4,014
3,180
401
4,186
3,294
407
4,434
3,475
463
4,732
3,798
460
323
-3
Automotive vehicles, parts, and engines (46).
To Canada (47)2..
To all other areas (48)
3,652
2,474
1,178
4,396
3,210
1,186
5,125
3,906
1,219
1,093
777
316
1,107
812
295
1,183
840
343
1,027
789
238
1,194
891
303
1,208
929
279
1,336
1,041
295
1,407
1,068
339
1,551
1,182
369
144
114
Consumer goods (nonfood), except automotive (52) _ _
All other, including balance of payments adjustments,* not included
above
2,719
2,847
3,491
677
699
823
648
830
835
891
939
1,032
93
398
388
422
468
534
505
601
Agricultural goods.
Nonagricultural
Foods, feeds, and beverages (19) adjusted*
Foods, feeds, and beverages—agricultural, adjusted*
1,589
1,603
1,988
391
418
IMPORTS
19
Total, adjusted to balance of payments basis, including "military" *
39,967
45,651
55,849
10,807
11,757
11,949
11,138
13,506
13,349
13,981
15,013
16,335
20
Less; Imports of U.S. military agencies identified in Census documents (14)
_
179
185
168
64
49
42
30
31
36
46
55
55
21
Equals: Total, adjusted to balance of payments basis, excluding
"military" (15)
39,788
45,466
55,681
10,743
11,708
11,907
11,108
13,475
13,313
13,935
14,958
16,280
1,322
Foods, feeds, and beverages (61)
_.
Industrial supplies and materials (66) adjusted*.
Petroleum and products (67a) adjusted*
6,154
15,415
2,922
6,366
17,466
3,616
7,257
20,986
4,626
1,546
4,031
709
1,684
4,535
887
1,878
4,604
998
1,260
4,249
1,029
1,818
4,963
1,055
1,719
4,998
1,101
1,823
5,312
1,241
1,897
5,697
1,230
2,108
6,339
1,492
211
642
26
Capital goods, except automotive (80)
Machinery, except consumer-type (81)
Civilian aircraft, engines, parts (89)
3,814
3,623
191
4,127
3,900
227
5,572
5,135
437
996
938
58
1,055
989
66
1,070
1,006
64
999
959
40
1,331
1,243
88
1,338
1,228
110
1,384
1,286
98
1,525
1,385
140
1,661
1,513
148
128
8
Automotive vehicles, parts, and engines (90) adjusted*...
From Canada (adjusted to transactions value) (92)*
From all other areas (93)
5,496
3,127
2,369
7,360
3,975
3,385
8,674
4,608
4,066
1,702
949
753
1,792
965
827
1,961
1,042
919
1,932
1,034
898
2,084
1,108
976
2,147
1,157
990
2,115
1,109
1,006
2,326
1,226
1,102
2,471
1,344
1,127
145
118
Consumer goods (nonfood), except automotive (97)
All other, including balance of payments adjustments* not included
above—.
_
7,553
8,561
11,355
2,054
2,217
2,007
2,274
2,804
2,704
2,879
2,966
3,199
1,356
1,586
1,837
414
425
387
394
475
407
422
547
502
(, 13,)
r
.
1,322
25
233
-45
BALANCE (EXPORT SURPLUS -f)
Balance on merchandise trade, adjusted to balance of payments
basis, including "military" (16)
_
3,106 -1,692
-6,221
363
-611
-153
-1,291
-1,635
-1,602
-1,417 -1,567
-806
761
Balance on merchandise trade, adjusted to balance of payments
basis, excluding "military" (17)
2,176 -2,698
-6,912
129
-917
-385
-1,525
-1,820
-1,774
-1,573 -1,745
-960
785
p Preliminary.
*"Adjusted" items reflect balance of payments corrections to Census trade figures for
coverage, valuation, and timing. For example: Line 6 is adjusted for changes in stocks of U.S.
grain stored in Canada; lines 8 and 23 include exports and imports of nonmonetary gold,
electric power, and petroleum trade of the Virgin Islands with foreign countries; line 18 excludes reexports and line 23 excludes imports of natural gas in transit through the United
States from western to eastern Canada; lines 28and 29 reflect adjustments for the overvaluation
in Census import data of autos and trucks from Canada.
1. Includes goods physically exported from the United States under U. S. military agency
sales contracts and recorded in Census trade statistics; includes goods physically imported
into the United States directly by U.S. military agencies (and by the Atomic Energy Commission and the Coast Guard) and recorded in Census trade statistics.
2. The statistical identification of automotive products exports to Canada (line 15) is not
as complete and comprehensive as the identification of automotive products imports from
Canada, which are more definitively classified for duty-free status under the U.S.-Canada
Automotive Products Trade Act. The less comprehensive identification in U.S. trade statistics of automotive parts exports to Canada results in an undercounting of such exports (line 15)
which—estimated from examination of Canada's import statistics—amounted to about $450
million annually in the 3 years 1970-72
NOTE.—Seasonally adjusted quarterly details may not add to unadjusted annual totals.
SUEVEY OF CUKKENT BUSINESS
22
mestic supply shortages, particularly
in soybeans, these shipments may have
peaked. (In April, agricultural exports
declined slightly from their March
high.)
Exports of nonagricultural goods
rose nearly 10 percent or about $1
billion, to $11.5 billion, following a
rise of less than 6 percent in the fourth
quarter. The increase in the first
quarter probably reflected both the
quickened pace of economic activity
in our leading foreign markets and
higher prices, especially for primary
materials. Exports may also be showing
beneficial effects of the December 1971
dollar devaluation and other currency
realinements. Shipments of industrial
supplies and materials—led by logs
June 1973
imports of petroleum and products
jumped 21 percent or $260 million, and
imports of nonferrous and precious
metals (platinum and palladium) rose
19 percent, or $130 million; gains of
nearly $100 million each were registered
for imports of building materials
(mainly lumber), and of paper and
paper-base stocks. Steel imports declined slightly but remained high.
Automotive imports from Canada rose
$115 million, about the same as the
rise in automotive exports to that
country; automotive imports from overseas increased only $25 million following a gain of nearly $100 million in
the fourth quarter of 1972.
As noted above, the import rise was
concentrated in January, with a level-
and lumber, chemicals, steel scrap and
steel—increased $340 million in the
first quarter. Exports of capital equipment rose $300 million despite a
flattening in civilian aircraft deliveries.
These two categories accounted for
two-thirds of the total increase in
nonagricultural exports. In addition,
automotive exports rose $145 million
($115 million to Canada), and exports
of nonfood consumer goods (other
than automotive) rose nearly $100
million.
Imports
Leading the $1.3 billion rise in total
imports in the first quarter was an
increase of 11 percent, or nearly
$650 million, in imports of industrial
supplies and materials. Among these,
Table B2.—U.S. Merchandise Exports and Imports, by Major World Areas *—Balance of Payments Basis, "Excluding Military'
[Millions of dollars]
Annual
Seasonally adjusted
Line
1971
1970
1971
1972
1973
1972
I
II
III
IV
I
II
III
IV
lv
Change:
1972
IV1973
I
EXPORTS
41,964
42,768
48,769
10,872
10,791
11,522
9,583
11,655
11,539
12,362
13,213
15,320
2,107
14,180
2,543
8,318
3,319
13,591
2,407
8,012
3,172
14,989
2,729
8,657
3,603
3,605
682
2,066
857
3,400
573
2,011
816
3,765
626
2,264
875
2,835
532
1,669
634
3,685
692
2,135
858
3,480
611
2,010
859
3,752
692
2,132
928
4,068
735
2,372
961
4,859
764
2,948
1,147
791
29
576
186
Eastern Europe
_
__
Canada
_
Latin American Republics and Other Western Hemisphere
8,973
6,515
409
10,385
6,446
857
12,506
7,241
101
2,454
1,641
99
2,579
1,633
102
2,703
1,827
107
2,649
1,331
141
2,864
1,747
142
3,062
1,732
272
3,267
1,854
311
3,313
1,903
419
3,579
2,013
108
266
110
Japan
Australia, New Zealand and South Africa
Other countries in Asia and Africa
_
4,650
1,593
5,685
4,069
1,694
6,174
4,978
1,546
6,652
1,086
427
1,558
1,049
407
1,624
940
458
1,727
987
401
1,273
1,187
395
1,636
1,170
356
1,597
1,236
380
1,601
1,389
413
1,816
1,849
488
2,113
460
75
297
Total, all countries..
Western Europe
United Kingdom
EEC 6
Other Western Europe
._
IMPORTS
Total, all countries..
Western Europe
United Kingdom.
EEC 6
Other Western Europe
_
Eastern Europe
Canada
_
Latin American Republics and Other Western Hemisphere
Japan
_
Australia, New Zealand and South Africa
Other countries in Asia and Africa...
39,788
45,466
55,681
10,743
11,708
11,907
11,108
13,475
13,313
13,935
14,958
16,280
1,322
11,294
2,214
6,674
2,406
12,813
2,477
7,600
2,736
15,648
2,945
9,116
3,587
3,122
591
1,886
645
3,403
658
2,022
723
3,589
724
2,089
776
2,707
510
1,600
597
3,917
766
2,250
901
3,736
722
2,157
857
3,846
658
2,290
898
4,151
798
2,422
931
4,515
861
2,641
1,013
364
63
219
82
218
10,618
5,912
225
12,120
6,116
363
14,403
7,068
55
2,861
1,494
63
3,010
1,595
62
3,177
1,665
45
3,072
1,361
66
3,409
1,793
73
3,564
1,647
107
3,523
1,780
118
3,906
1,848
117
4,214
2,145
-1
308
297
5,894
1,128
4,724
7,278
1,139
5,775
9,079
1,406
7,714
1,713
253
1,245
1,876
300
1,461
1,577
300
1,537
2,112
279
1,532
2,193
305
1,792
2,169
342
1,782
2,324
371
1,984
2,395
387
2,153
2,441
398
2,450
46
11
297
-385 -1,525 -1,820 -1,774 -1,573 -1,745
BALANCE (EXPORT SURPLUS + )
Total, all countries.
Western Europe
United Kingdom
EEC 6
Other Western EuropeEastern EuropeCanada..
Latin American Republics and Other Western Hemisphere
Japan
Australia, New Zealand and South Africa
Other countries in Asia and Africa
9
2,176 -2,698 -6,912
129
-917
-960
785
2,886
329
1,644
913
-659
-216
-459
16
483
91
180
212
-3
-85
-11
93
176
-98
175
99
128
22
69
37
-232
-74
-115
-43
-256
-111
-147
2
-94
34
-158
30
-83
-63
-50
30
344
-97
307
134
427
-34
357
104
150
494
184
1,645 -1,735 -1,897
173
46
-407
147
36
-431
38
40
-474
162
62
-423
-30
75
-545
-46
69
-502
85
165
-256
74
193
-593
55
302
-635
-132
109
-42
-187
-1,244 -3,209 -4,101
465
555
140
961
399 -1,062
-627
174
313
-827
107
163
-637 -1,125 -1,006
158
122
90
190
-259
-156
-999 -1,088 -1,006
26
14
9
-337
-185
-383
-592
90
-337
414
64
778
-70
412
436
330
Preliminary.
1. Annual data shown in this table match corresponding country and area data in table 9,
lines 2 and 16; seasonally adjusted quarterly data shown in this table are computed from
corresponding unadjusted quarterly data represented in table ft. lines 2 and 16.
SUEVEY OF CURRENT BUSINESS
June 1973
ing in the next 2 months despite rising
oil imports. In volume terms, a slight
import decline was evident in March
when import prices (unit values) rose
nearly 2 percent against an increase
in the value of imports of less than
one-half of 1 percent. This moderation
of imports, in the face of the rapid
growth in the U.S. economy, suggests
that the exchange rate changes of
late 1971 may be starting to have
their desired effect, and that the initial
perverse effects of that first devaluation
may have run their course. In fact,
the delayed positive impact of the
1971 devaluation may now be offsetting the initial perverse effect on
imports of the February 1973 devaluation, but it will be some months before
it can be confirmed whether this is
actually the case.
Area developments
The $0.8 billion improvement in the
trade balance in the first quarter was
primarily with Western Europe and
Japan. The surplus with Western
Europe increased $0.4 billion, and
the deficit with Japan declined by a
like amount (see table B-2). Large
favorable balances in agricultural goods
and capital equipment were contributing factors. However, increased U.S.
demand for and rising prices of foodstuffs (coffee, sugar, fish, meat) and
producers' supplies (woodpulp, paper,
lumber, metals, and oil) contributed
to a worsening of the U.S.-trade
balance with Western Hemisphere
countries. The trade deficits with
Canada and with the Caribbean countries increased moderately, and the
traditional trade surplus with the
Latin American Republics—which was
about $0.2 billion in the last quarter
of 1972—disappeared. Partly offsetting
were improvements in the U.S. trade
balance with Eastern Europe and with
Australia, New Zealand, and South
Africa.
U.S. corporate capital
Net corporate capital outflows totaled
$1.7 billion in the first quarter, an
increase of $1.4 billion over the fourth
quarter (see table C). The deterioration
was essentially the result of a large
increase in outflows for direct investment; flows reflecting changes in other
corporate claims and liabilities showed
little net change.
Direct investment outflows increased
$1.4 billion to $2.1 billion. Almost
one-half of the first quarter outflow was
to petroleum affiliates, particularly to
those in Western Europe; substantial
23
outflows also went to petroleum affiliates
in the Middle East and to affiliates
engaged in international tanker operations. Outflows to manufacturing affiliates accounted for about 25 percent of
the total, largely to Western Europe.
The unsettled state of the foreign
exchange markets was of particular
importance among the factors leading to
the increase in direct investment outflows in the first quarter. Although
direct investment outflows are classified
among the long-term capital accounts,
specific transactions may actually be
short-term. Such is the case with shortterm intercompany account transactions between U.S. parent companies
and their foreign affiliates. In order to
avoid losses or effect gains in periods of
exchange market uncertainties, such
short-term direct investment accounts
may be used as a conduit for transfers
of funds from the United States for
acquiring assets or reducing liabilities
in currencies expected to appreciate
against the dollar. Preliminary and
incomplete data for the first quarter
indicate that an unusually high proportion of direct investment outflows was
of a short-term nature.
Another factor which may have con(Continued on page 58)
Table C—Net Change in U.S. Corporate Foreign Assets and Liabilities l
[Millions of dollars seasonally adjusted]
Line
Credits (+); debits (-) (lines in table 2 in which transactions are
included are indicated in ( ))
Direct investment (39)
Corporate foreign borrowing, total
N e w issues of securities sold abroad b y U.S. corporations (50 t ) 2 Other long-term liabilities (51)
Short-term liabilities (52f)3
Direct investment net of corporate foreign borrowing *
Other corporate claims, total
Long-term (44)
Short-term, nonliquid (45t) 3
Short-term, liquid (46)
_
Total net corporate capital flow
Addendum:
Uses of funds obtained through new issues of securities sold abroad by
U.S. corporations
_.
Additions to, and refinancing of direct investment (S91[)
Short-term claims reported by U. S. residents other than banks (46\) _.
Reduction in corporate liabilities to foreigners (51 f, 52\)
Transfers of funds to U. S. residents (54t)5
1971
1973
Change:
1972
IV1973
I
1972
II
III
II
IV
III
IV
-4,410
-4,943
-3,404
-1,255
-1,343
-1,450
-895
-1,302
-183
-1,148
-771
-2,139
-1,368
2,921
822
1,112
987
1,579
1,173
384
22
2,836
2,023
694
119
93
317
203
-427
320
263
45
12
390
225
-89
254
776
368
225
183
289
296
-38
31
1,081
766
260
55
626
372
269
-15
840
813
414
228
171
-27
-175
25
123
-1,489
-3,364
-568
-1,162
-1,023
-1,060
-119
-1,013
898
-522
-309
e-300
-360
351
1,195
-168
-496
-531
-927
-202
-233
-492
-320
-33
-88
-199
-145
1
-200
54
-316
-37
-128
-151
-414
-99
-80
-235
-179
-74
60
-165
-118
-3
22
-137
-1,798
-4,559
-1,495
-1,482
-1,168
-1,376
-533
-1,192
2,028
-259
-926
-268
-571
317
-90
-109
-100
-18
26S
-124
226
296
-69
-148
822
-378
-860
-ssi
-225
-205
-412
* Revised.
* Preliminary.
fPortion of line.
1. Excludes claims and liabilities of U.S. banking and brokerage institutions.
2. Includes proceeds from new issues of stocks as well as bonds sold abroad by U.S.
corporations. Excludes funds obtained aboad 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 in the Netherlands Antilles
are treated as if they had been issued by U.S. corporations to the extent that the proceeds
of such issues are transferred to U.S. parent companies.
1972
1971
1970
=a
-70
-88
-114
-73
-58
-32
-210
"-79
203
48
-1,326
-1,395
-28
-125
-136
-341
-97
-190
-54
-350
-86
183
-447
-9
11
373
780
-811
-272
-1,676
-1,404
766
-16
-384
-146
-220
372
-54
-192
589
-120
-201
-62
-206
414
-125
-ISO
-26
-133
-175
-5
71
86
78
3. Excludes brokerage transactions.
4. Corporate foreign borrowing and changes in "other corporate claims" may include funds
to finance trade or other activities not entirely related to direct investment. The amounts
cannot be disaggregated.
5. A (—) reflects a decline in foreign deposits and money market paper held in the United
States.
6. 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.
SURVEY OF CURRENT BUSINESS
24
June 1973
Table 1.—U.S. Balance
[Millions of dollars,
Line
Reference
lines
(table 2)
(Credits + ; debits - )
Merchandise trade balance l .
Exports
Imports
26
1967
1968
1969
1970
1971
1972
7, 8, 9, 21,
22,23
_
31,32
U.S. Government capital flows excluding nonscheduled repayments, net.*
Nonscheduled repayments of U.S. Government assets.
U.S. Government nonliquid liabilities to other than
foreign official reserve agencies.
Long-term private capital flows, net
U.S. direct investments abroad
Foreign direct investments in the United States
Foreign securities
U.S. securities other than Treasury issues
Other, reported by U.S. banks
Other, reported by U.S. nonbanking concerns
Allocations of special drawing rights (SDR)*..
Errors and omissions, net
37
48
116
179
142
301
285
335
302
449
581
4,093
5,582
5,086
5,940
8,537
7,141
5,210
5,132
2,465
1,891
3,630
-628
-659
-712
-825
-867 -1,028
-980 -1,278 -1,202 -1,297 -1,481 -1,553 - 1 , 5 7 0
3,465
4,923
4,375
5,116
7,671
4,230
6,113
3,853
1,264
594
2,150
739
850
807 - 4 , 6 0 9
-745 - 6 , 1 7 9
3,069
2,456
3,199
5,783
4,306
2,320
2,051
-443 -1,050
416 -2,790 - 8 , 3 5 3
54
215
695
25
680
203
326
511
123
328
221
66
429
65
6
2
269
110
-87
267
244
-433
225
-467
137
238
-151
1,191
-70 -1,429 -4,401
-2,100 -2,182 -2,606 -3,376 - 4 , 511 - 4 , 577 - 2 , 575 -2,932
39 -1,674 - 1 , 598 -1,654 -1,976 -2,328 -3,468 - 3 , 661 -3,137 -3,209 -3,271 -4,410 -4,943 - 3 , 4 0 4
258
319
-5
-5
57
86
832
1,030
160
132
-115
141
73
49
-677
-942
-614
-759
-482 -1,266 -1,239 -1,494
-966
-969 -1,105
40
-663
-762
4,414
-84
3,130
2,190
1,016
2,269
4,335
282
-357
909
134
50
282
324
410
-893
457
178
-862 -1,120
-722
393
9
505
-121
-147
-141
41,53
495
-523
277
526
216
149
-196
492
-60
68
-129
44,51
-39
-77
-1,188
-15 -1,042 -1,328
-76 -1,804 -1,724 -3,304 -1,411 -3,046 -3,031 -9,550 - 9 , 8 4 2
6-1,405 6-1,200 6 -657 6 -968 -1,643
6 -951 8-1,005 6 -358 6 -747 -1,333
-422
6 -363 6 -371 6 -187 -198
-23
-112
113
-91
176
-482 -2,347 - 1 , 6 3 '
-640
-658 -1,023 -1,802 -1,495
-315
-73
-361
-530
91
-15
902
173
-154
-200
-103
149
-104
-220
-180
296
-522
-645
-376
499
231
-44
-485
759
-520
-322
-857
-431 -2,395 -1,205 -10,784
-2,478 -2,151
-4,683
-1,611
2,370
-14
136
-150
2,384
2,697
-525
212
1,265
-207
-85
-122
1,472
1,272
-214
414
3,252
-558
-61
-497
3,810
3,387
48
375
-13,882
3,542
8,820 - 5 , 988 - 7 , 788
252 -1,097 - 1 , 2 3 4
162
-742
-99
-566
-209
-492
351
-531
371
4,776
8,658 -6, 240 -6,691
9,166 -6,508 -6, 908
3,862
181
682
-63
104
87
-465
-445
810
219 -3,418
1,641
2,739 -9,839 -29,753 -10,340
867
64 -1,084 -1,037 -1,166
Liquid private capital flows, ne t
Liquid claims
Reported by U.S..banks..
.....
Reported by U.S. nonbanking concerns
Liquid liabilities
~.Y/_1V.~.1V.
To foreign commercial banks
To international and regional organizations
"..
To other foreigners
-418
-978
8-3,677 6-2,252 6-2,864 6-2,713
-2,696
6 904
8 273
8 -35 6 -180
6 -44 6 -120
69
6 -60
1,083
308
586
140
407
335
90
-167
Official reserve transactions balance
U.S. official reserve assets, net
30
1,801
Net liquidity balance
Financed by changes in:
Liquid liabilities to foreign official agencies. _
Other readily marketable liabilities to foreign official
agencies.?
Nonliquid liabilities to foreign official reserve agencies
reported by U.S. Government.
78
34, 35, 36 -1,158 -1,621 -1,775 -1,987 -1,799 -1,819 -1,963 -2,427 - 2 , 537 -2,106 -1,829 -2,117 -1,714
Balance on current account and long-term capital !
31
-2,753 - 2 , 596 -2,448 -2,304 -2,133 -2,122 -2,935 -3,138 -3,143 -3,344 -3,374 -2,918 - 3 , 5 5 8
-964
-978 -1,155 -1,312 -1,149 -1,284 -1,332 - 1 , 751 -1,548 -1,782 -2,013 -2,288 - 2 , 8 5 3
30 -1,664 -1,853 -1,919 -1,917 -1,888 -1,808 -1,910 -1,802 -1,707 -1,644 -1,734 -2,045 - 2 , 1 7 4
Balance on current account «
32
42
1966
Other services, net-
Nonliquid short-term private capital flows, net
Claims reported by U.S. banks
Claims reported by U.S. nonbanking concerns
Liabilities reported by U.S. nonbanking concerns...
33
1965
5,295
4,153
5,375
5,887
4,053
4,877
6,220
7,862
3,555
5,975
7,972
2,841
6,260
5,162
4,018
4,687
5,374
5,955
3,844
6,519
3,430
7,340
7,920
9,456 10,433
2,945
10,11
1,713
1,930
1,521
2,207
2,355
1,375
2,714
3,506
1,174
3,199
3,443
994
12,13
3,492
24, 25, 26, -1,098 -1,049 -1,167 -1,386 - 1 , 523 -1,797 -2,206 -2,424 -3,013 -4,564 -5,166 -4,927 - 6 , 0 6 3
27
27
28
29
30
34
35
36
37
38
39
40
41
1964
Investment income, net 2
U. S. direct investments abroad
Other U.S. investments abroad...
_.
Foreign investments in the United States.
U.S. Government grants (excluding military)
19
20
21
22
23
24
25
1963
3,17
4, 5, 6,
18, 19, 20
Balance on goods, services and remittances
17
18
1962
4,892
4,521
5,224
6,801
4,951
3,817
3,800
635
5,571
593
2,176 - 2 , 698 - 6 , 9 1 2
19,650 20,108 20,781 22,272 25,501 26,461 29,310 30, 666 33, 626 36,400 41,964 42,768 48,769
16 -14,758 -14, 537 -16, 260 -17,048 -18,700 -21, 510 -25,493 -26,866 -32,991 -35,807 -39,788 -45,466 55, 681
Remittances, pensions and other transfers.
15
1961
Military transactions, net
Travel and transportation, net _
Balance on goods and services 3
16
1960
6 214
6-1
8 34
6-35
215
-138
212
141
6 779
6 159
6 -34
193
620
470
-235
385
1,162
-392
-191
-201
1,554
1,454
-243
343
1,188
1,057
525
532
131
116
-291
306
-3,403 -1,348 -2,650 -1,934 -1,534 -1,290
55
56
1,258
74;2
57
58
2,145
606
1,673
9
1,075
149
199
-125
139
123
15
452
1,533
377
171
1,222
568
52
-18 -1,595
-38
793
710
-3,112
-3,851 -21,965
-554
-836
7,637
-810
27,615
-551
9,720
399
-162
535
341
189
-880 -1,187
2,477
2,348
2,020 -3,101
534
894
918
-6,081
717
1,806
Memoranda:
Transfers under military grant programs (excluded
4,200
1,562
3,153
2,451
2,869
2,586
1,765
2,856
1,465
1,539
1,340
1,636
2,073
14,28
from lines 2, 4, and 14).
Reinvested earnings of foreign incorporated affiliates of
3,192
n.a.
2,604
2,948
1,542
2,175
1,739
1,598
1,266
1,054
1,198
1,507
1,431
U.S. firms (excluded from lines 7 and 20).
Reinvested earnings of U.S. incorporated affiliates of
n.a.
434
498
339
174
214
488
431
236
358
440
238
327
foreign firms (excluded from lines 9 and 21).
Gross liquidity balance, excluding allocations of SDR.. 54, 55, 56, -3,711 -2,432 -2,865 - 2 , 554 -3,088 -1,421 -2,165 -4,890 -2,169 -5,919 -4,466 -23,779 -15,826
57, 58, 63
NOT SEASONALLY ADJUSTED
Balance on goods and services
Balance on goods, services and remittances
Balance on current account
Balance on current account and long-term capital s
Net liquidity balance
Official reserve transactions balance
See footnotes at end of table.
NOTE.—Data for 1948-59 are on p. 54.
SURVEY OF CURRENT BUSINESS
June 1973
25
of Payments Summary
seasonally adjusted]
II
I
1962
1961
1960
IV
III
I
IV
III
II
I
II
1963
IV
III
I
II
1964
IV
III
I
II
Line
IV
III
873
4,685
-3,812
1,058
4,916
-3,858
1,383
5,031
-3,648
1,578
5,018
-3,440
1,701
5,095
-3,394
1,368
4,806
-3,438
1,229
5,038
-3,809
1,273
5,169
-3,896
1,111
5,077
-3,966
1,256
5,336
-4,080
-710
-246
-680
-250
-713
-232
-651
-237
-700
-240
-669
-238
-594
-254
-633
-247
-660
-250
-574
-283
-607
-281
-606
-340
-576
-339
-553
-294
-599
-341
-577
-338
-540
-255
-586
-298
-507
-300
-499
-296
4
5
656
711
235
-290
665
730
214
-279
721
721
278
-278
799
783
269
-253
870
844
280
-254
855
816
294
-255
900
882
284
-266
931
888
317
-274
900
863
323
-286
1,005
939
355
-289
996
947
346
-297
1,149
1,096
350
-297
1,047
1,015
357
-325
989
957
369
-337
1,023
977
397
-351
1,096
1,070
397
-371
1,231
1,178
423
-370
1,205
1,151
429
-375
1,263
1,171
465
-373
1,179
1,186
397
-404
C
7
8
9
27
21
19
13
15
21
-7
32
38
22
23
47
46
36
49
18
52
38
33
10
600
814
1,178
1,502
1,646
1,337
1,274
1,324
1,133
1,442
1,345
1,165
1,178
1,561
1,418
1,783
2,280
1,974
2,161
2,124
11
-152
-151
-157
-169
-172
-158
-164
-167
-182
-176
-175
-178
-216
-199
-205
-205
-209
-210
-221
-228
12
(*)
999
1,215
939
1,299
1,373
1,553
5,063
5,331
5,037
5,671
5,599
5,939
-4,116 -4,098 -4,064 -4,226 -4,372 -4,386
1,826
1,667
1,601
1,707
6,242
6,199
6,423
6,637
-4,416 -4,598 -4,756 -4,930
1
2
3
448
663
1,021
1,333
1,474
1,179
1,110
1,157
951
1,266
1,170
987
962
1,362
1,213
1,578
2,071
1,764
1,940
1,896
13
-358
-400
-443
-463
-458
-467
-437
-492
-515
-444
-457
-504
.-422
-471
-497
-528
-445
-500
-461
-482
14
90
263
578
870
1,016
712
673
665
436
822
713
483
540
891
716
1,050
1,626
1,264
1,479
1,414
U
-505
-688
-329
-465
-335
-419
-447
-598
16
26
31
34
136
241
178
25
166
52
136
33
37
31
32
7
122
17
-789 -1,166
-620
-455
g
8
-522
-378
14
6
20
26
-53
4
-977
-492
47
-536
114
-164
54
-451
-334
40
-100
52
-104
5
-782
-530
-87
53
103
-474
153
-757
-462
17
20
-42
-258
-32
- 9 1 7 - 1 , 2 5 8 - 1 , 578
-613
-588
-664
-24
29
-27
-494
-206
2
-26
14
-30
-311
-84
-240
-135
-57
-299
IS
2C
21
22
21
24
2,
-1,074
-604
355
-163
-633
2(
-254
-345
-186
-373
-397
-166
-492
-567
-412
-442
-468
-452
17
181
5
-1
24
44
7
-10
5
-14
634
6
6
42
51
-10
1
18
58
-21
476
89
145
116
-384
-343
40
-266
170
13
2
-325
-262
59
-166
118
-65
-9
-520
-434
53
-111
5
-26
-7
-871
-635
-11
-120
-11
-69
-25
-458
-496
20
-135
104
83
-34
-392
-284
32
-246
152
-35
-11
-646
-483
-5
-124
3
-19
-18
-685
-336
26
-257
66
-170
-14
-459
-272
41
-196
145
-119
-58
-728
-429
77
-308
7
-37
-38
-630
-498
6
-87
-23
9
-37
152
794
-417
-546
-416
-311
180
-350
« -102
6 -132
6 35
-5
-403
6
-60
-377
-188
6
-55
6
-80
-53
6 -580
6 -519
6 -55
-6
6 -535
6 -245
6 -263
-27
-299
-280
-282
8
e-81
76
6-230
6 -182
6 -128
80
6 -332
6 -220
6 -100
-12
-353
-454
70
-361
6-356
6 -277
6 -247
6 -62
32
6
-497
154 6 - 2 5 8
6 150 6 - 1 1 9
6 53 6 - 1 5 2
-49
13
6 -54
6 -37
6 37
-54
6 - 8 4 6 -312 6 -198
6 15 6 - 3 1 4 6 - 1 9 6
-63
-19
-69
65
17
-30
-93
-265
-389
-128
-1,008
6-422
6 -496
663
6 27
6 -82
—35
100
-172
-4
276
6 -476
6 36
6 25
6 11
-512
-266
-107
-139
6 -499
6 -352
6 -125
-22
-6
722
-2
tt
fjt,
-563
-475
-93
5
-262
-233
-48
19
-437
-305
-197
65
-380
-320
-84
24
2'
2$
2<
3(
6-374
6 -252
-47
3
-223
«-675
6 315
6 29
6 24
6
-890
« - 9 2 0 6-1,194
6 -62
6
-562
«-68
6 _74
6 -260
6 31
6 25
6 -264
6 -15
6 -10
307
216
74
17
6
-18
89
-65
-291
-349
91
-33
-360
-610
-982
201
435
242
6 280
6 -27
6 -19
286
291
81
-86
6
110
6 582
175
740
8
-1,123
6
-418
-105
-356
171
-299
-154
-261
—263
3i
6 -940 -1,286 « -1,021
6 -199
6-209
6 75
6 308
6 114 6 - 1 7 6
6 25 6-81
89
—95
194
251
183
190
-65
-49
76
110
6 93
6 123
6 58
65
-140
-418
-861
-1,276
32
-68
-82
4
—86
14
44
-86
56
-76
-329
-268
—61
253
231
-24
46
549
117
181
757
-98
-108
3'
3^
3(
432
458
-141
115
855
721
8
126
3*
-103
-13
86
6 303
6 98
6 -36
134
205
200
-108
113
-946
-106
94
-208
-494
-312
-519
45
921
882
9
-17
-111
296
26
161
44
33
15
584
64
4C
44
200
25
—68
— 104
22
-63
—14
194
22
4!
389
32
123
227
-5
-51
303
70
-151
4e
6-36
6
-3
6200
6 10
6 15
6 385
6 -139
6 -122
-249
-189
54
-114
618
514
28
76
190
50
81
59
524
211
244
69
-1,454
-826
692
-479
-738
-409
-359
-972
-913
-978
383
455
-372
692
-30
-18
524
91
324
6 K
159
6-679
-300
1,071
371
-320
-213
768
6 599
6 81
6 76
6
5
518
263
215
40
427
6-37
6 -2
6
-164
6-65
6
—17
109
37
108
-36
881
or\
4(
41
443
622
282
418
324
543
247
351
390
626
218
305
447
678
194
244
307
624
215
294
4.1
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.
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.
4i
-646
-917
-988
-1,163
-577
74
-669
-1,262
-927
-459
-460
-1,022
-1,172
-1,197
-76
-Ill
-222
-747
-744
-1,374
5(
1,358
1,153
706
-816
-764
-341
1,703
1,495
995
-702
-997
-996
610
401
-65
-297
-589
-453
2,269
2,066
1,563
487
-364
-145
2,423
2,225
1,752
928
409
479
2,116
1,896
1,364
-76
-305
-554
1,325
1,100
672
-831
-1,388
-676
2,674
2,449
1,996
-97
-1,412
-783
52
53
54
55
56
4i
N O T SEASONALLY ADJUSTED
612
469
88
-311
-493
-19
913
755
338
-474
-912
-677
636
475
58
-500
-1,128
-1,156
1,933
1,766
1,318
98
-1,145
-1,551
1,656
1,495
1,015
202
-327
-423
1,441
1,275
789
707
88
615
705
537
124
-879
-950
-714
1,780
1,616
1,141
-45
-1,063
-826
1,207
1,035
498
-294
-672
111
1,624
1,566
690
1,448
1,381
510
914
81
963
-397
-325
-26
-398
-845
-950
- 4 1 2 -1,266 -1,083
51
SUEVEY OF CURRENT BUSINESS
26
June 1973
Table 1.—U.S. Balance of Payments
[Millions of dollars,
(Credits + ; debits - )
Line
Merchandise trade balance l.
Exports
Imports
Military transactions, net
Travel and transportation, n e t .
Investment income, n e t 2
U.S. direct investments abroad
Other U.S. investments abroad
Foreign investments in the United States.
10
11
Other services, net.
13
Balance on goods, services and remittances
Balance on current account 4 -
16
U.S. Government capital flows excluding nonscheduled repayments, net.5
Nonscheduled repayments of U.S. Government assets.
U.S. Government nonliquid liabilities to other than foreign official reserve agencies
.
Long-term private capital flows, net
U.S. direct investments abroad..
Foreign direct investments in the United States
Foreign securities
U.S. securities other than Treasury issues.
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
10,11
12,13
24,25,26,
27
31,32
U.S. Government grants (excluding military).
15
19
20
21
22
23
24
25
3,17
4,5,6,18,
19,20
Balance on goods and services 3 .
Remittances, pensions and other transfers
17
18
2
16
7,8,9,21,
22,23
12
14
Reference
lines
(table 2)
Other, reported b y U . S . b a n k s
Other, reported b y U . S . nonbanking concerns
34,35,36
II
1966
III
IV
III
999
5,687
-4,688
1,454
6,938
-5,484
1,296
6,863
-5,567
1,202
6,973
5,771
1,163
7"~
-469
-531
-311
-534
-278
-588
-315
-336
1,402
1,354
503
-455
1,5
1,277
505
-440
1.175
1,225
437
-487
1,310
1,284
524
-498
1,368
1,339
544
-515
84
80
76
1,374
1,305
487
-418
59
1967
IV
II
1,001
7,171
-6,170
791
7,408
6,617
7,538
-6,676
-711
-772
-323
1,319
1,343
558
-582
1,
7,663
-6,570
449
7,601
-7,152
-771
-334
-756
-365
-746
-504
-511
-771
-372
1,377
1,407
581
-611
1,!
580
-601
1,350
1,369
581
-600
1,562
1,566
585
-589
1,609
1,635
609
-635
65
75
84
85
90
1,583
2,083
1,915
1,558
1,536
1,396
1,078
1,199
1,339
1,422
1,363
1,005
-233
-303
-250
-241
-234
-233
-277
-236
-266
-387
-355
-270
1,350
1,780
1,665
1,317
1,302
1,163
801
963
1,073
1,035
1,008
735
-411
-477
-461
-459
-588
-484
-419
-419
-455
-462
-489
-397
939
1,303
1,204
858
714
679
382
544
618
-378
-541
-437
-463
-317
-509
-566
-571
-642
573
-55
10
182
23
3
7
226
192
26
-1,575
-1,245
85
-198
57
-288
14
171
-1,101
-879
-95
-147
-242
273
-11
-2
-1,113
-635
44
-209
-227
-76
-10
-130
-789
-709
22
-205
55
100
-52
-100
-719
-728
52
-357
173
129
12
22
-317
-934
38
-60
520
158
-39
81
-797
-917
-113
-11
107
104
33
62
-741
-1,082
110
-54
109
114
62
60
-502
-707
64
-259
133
210
57
157
-345
-518
70
-237
329
199
-188
-978
-162
-166
-501
-419
-118
-674
-514
-466
-154
-197
-174
-18
-5
81
29
-16
9
-54
39
-32
-64
-15
47
-85
-42
-82
39
8
-13
-45
76
-30
-28
134
-103
-135
-25
57
-134
-131
-97
94
-206
-315
19
90
64
-112
-451
-20
-216
-257
156
-6
-285
-635
-1,111
-193
-623
-553
-720
-367
-442
-623
-885
-995
399
406
108
298
379
386
199
-63
-26
82
-231
162
170
-8
-393
-29S
-142
48
287
8
68
-60
279
208
-38
109
220
65
37
28
155
444
-355
66
47
-49
997
930
-24
868
-85
-16
-69
953
1,115
-108
-54
-878
17
-41
58
-45
-66
104
641
103
48
55
538
523
-57
72
-36
80
324
129
53
76
195
261
-78
12
-712
186
18
-784
-433
-147
553
245 -1,763
-671
-101
-21
-217
-29
-35
-16
33'
-71
48
-184
282
-731
88
private capital flows, net
U.S. banks.
U. S. n o n b a n k i n g concerns
b y U. S. nonbanking concerns
IV
1,238
7,714
-6,476
48
39
49
40
50
41,53
44,51
III
1,020
7,
37
Balance on current account and 1 ong-term capital 5 .
Nonliquid short-term
Claims reported b y
Claims reported b y
Liabilities reported
1965
519
-561
6
(*)
338
-6$
C)
-211
-839 -1,245
-947
-964
12
112
-409
-361
520
34
-32
16
17
-82
-883
-1,801
-145
-37
-202
-126
-172
183
132
Allocations of special drawing rights ( S D R ) 4
Errors and omissions, net
64
Net liquidity b a l a n c e . . .
Liquid private capital flows, net
Liquid claims
Reported b y U.S. b a n k s
Reported b y U . S . n o n b a n k i n g concerns
Liquid liabilities
T o foreign commercial b a n k s .
T o international and regional organizations..
T o other foreigners
Official reserve transactions balance
is;
Financed by changes in:
L i q u i d liabilities to foreign official agencies
Other readily m a r k e t a b l e liabilities to foreign official agencies 7
N o n l i q u i d liabilities to foreign official reserve agencies reported
by U.S. Government...
55
56
57
—8
-8
-8
U.S. official reserve assets, net
58
842
68
4
Memoranda:
Transfers under military grant programs (excluded from lines
2,4, and 14)
Reinvested earnings of foreign incorporated affiliates of U.S.
firms (excluded from lines 7 and 20)
__
_
Reinvested earnings of U.S. incorporated affiliates of foreign
firms (excluded from lines 9 and 21)
Gross liquidity balance, excluding allocations of S D R .
14,28
54, 55, 56,
57, 58, 63
28
-I
148
27:
424
1
-60C
371
-14
413
304
507
596
1
14
-979
-1,824
1,027
-72
-122
50
1,099
1,059
-51
91
666
324
282
784
36:
644
72'
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.
n.a,
n.a.
n.a,
n.a.
n.a
n.a,
n.a,
-520
-39:
-712
-301
-444
-708
-86$
-866 -1,05:
1,740
1,507
1,121
1,603
1,252
1,566
1,166
767
657
-701
193
90C
19C
323
372
655
A,
227
200
-196
n.a.
274
792
-281
25
-306
1,073
891
-1,03:
-37-
l,02<
68
49
123
-18:
n.a
n.a
-2,
10J
Not Seasonally Adjusted
Balance on goods and services.
Balance on goods, services and remittances
Balance on current account
Balance on current account and long-term capital
Net liquidity balance
Official reserve transactions balance
1,762
1,541
1,101
-718
-499
40
v Preliminary.
*Less than $500,000 ( ± ) .
n.a. Not available.
1. Adjusted to balance of payments basis; excludes exports under U.S. military agency
sales contracts and imports of U.S. military agencies.
2. Includes fees and royalties from U.S. direct investments abroad or from foreign direct
investments in the United States.
2,145
1,006
2,228
1,915
751 1,906
331 1,475
1,398
-864
-269
48
-725
-115 -1,138
69 -278 -1,121
1,703
1,483
1,529
1,284
865
754
-159
-76
340
239
-44
-420
-321 -1,266
-410
-866
-392
403
22 -512
-525
-798
-132 -1,279
482 1,58:
122 1,31-325
95!
-102 - 1 , 489 -1,201
-822 -1,367 - 1 , 968
-710
-20 -1,40S
3. Equal to net exports of goods and services in national income and product accounts of
the United States.
4. The sum of lines 15 and 31 is equal to "net foreign investment" in the national income and
product accounts of the United States.
5. Includes some short-term U.S. Government assets.
SURVEY OF CURRENT BUSINESS
June 1973
27
Summary—Continued
seasonally adjusted]
1971
1970
1969
1968
1972
Change:
1972IV- Line
19731
1973
I
II
III
IV
I
II
III
IV
I
II
IV
III
512
-92
486
743
298
-62
-99
733
322
121
254
7,944 8,390 8,898 8,394 7,490 9,480 9,569 9,861 10,239 10,564 10,704
-7,823 -8,136 -8,576 -8,456 -7,589 -9,572 -9,271 -9,375 -9,727 -9,831 -9,961
-912
-417
-824
-520
I
II
III
IV
I
II
rv
III
IP
129
-385 -1,525 -1,820 -1,774 -1,573 -1,745
188
-917
-960
10,457 10,872 10,791 11,522 9,583 11,655 11,539 12,362 13,213 15,320
10,269 -10,743 -11,708 -11,907 -11,108 -13,475 -13,313 -13,935 -14,958 -16,280
-774
-505
-677
-513
-707
-599
-715
-550
-818
-626
-894
-755
-954
-691
-864
-730
785
2,107
-1,322
1
2
3
-801
-397
-769
-357
-755
-424
-817
-369
-791
-468
-824
-699
40
31
4
5
1,430
1,458
668
-696
1,629
1,690
683
-744
1,623
1,676
722
-775
1,539
1,696
643
-800
1,829 2,180 1,745 2,217 1,891
1,633
1,791
1,950 2,232 2,247
1,457 1,579
1,543 1,508 1,464 1,460 1,592
1,985 2,000 2,120 2,476 2,190 2,670 2,392 2,450 2,600 2,991 3,109
1,728 1,805 1,893 1,913 2,047 1,889
850
887
878
869
839
820
889
890
848
922
875
876
813
862
996
744
781
-929 -1,078 -1,242 -1,315 -1,344 -1,322 -1,284 -1,217 -1,160 -1,135 -1,293 -1,340 -1,423 -1,479 -1,526 -1,634 -1,858
15
118
121
-224
6
7
8
9
106
94
89
13
93
-859
-408
111
-780
-431
121
-915
-476
124
132
-863
-571
125
159
162
186
174
185
192
204
-846
-679
202
209
237
237
10
459
851
855
304
278
260
672
679
907
971
1,047
704
954
131
280
-560 -1,374 -1,426
-939
-870
1
871
11
-277
-270
-350
-306
-294
-336
-330
-338
-352
-380
-381
-368
-365
-374
-409
-405
-373
-429
-400
29
12
182
581
505
-2
-16
-76
342
341
555
591
666
336
589
-243
-129
-965 -1,765 -1,801 -1,312 -1,299
-399
900
13
-362
-422
-435
-488
-345
-525
-372
-402
-417
-402
-444
-471
-438
-485
-549
-573
-452
-351
101
14
-180
159
70
-490
-361
-601
-30
-61
138
189
222
-135
151
-728
-678 -1,538 -2,343 -2,364 -1,893 -1,751
-750
1,001
15
-748
-632
-625
-532
-449
-659
-551
-447
-486
-458
-427
-459
-581
-672
-459
-405
-298
-245
-542
-627
-677
-50
16
42
3
55
169
44
34
-154
-11
88
114
2
40
4
102
72
48
88
17
7
26
111
85
17
1
170
29
431
-843 -1,033
5
23
-105 -259
1,122 1,124
74
143
178
31
-43
183
-876
41
-515
1,312
123
98
98
-75
547 -913
-930 -1,004
164
246
-365 -499
365
1,388
40
117
21
91
-15
-393
-903
152
-506
396
249
219
222
15
-120
781
-771 -2,139
247
160
47
-40
1,768 1,738
-155
-442
142
106
207
-901
-1,368
87
87
-30
287
36
18
19
20
21
22
23
24
25
-18
548
-456
251
-360
855
70
188
-206
258
-18
-240
688 -932
-435 -1,279 -1,233
104
491
270
93
-125 -210
374
304
981
68
21
51
354
-54 -259
-211
52
-261
-65
-5
-205
-53
-895 -1,691 -2,018
-886 -1,014 - 1 , 255 -1,343 -1,450
-425
190
124
1
245
-305
-337
-356
-377
-488
606
792
559
196
720
-318
55
-137
-214
34
-126
261
170
46
170
-868 -1,386 -2,994 -3,294 -1,881 -3,775 -1,855 -2,652 -1,556 -1,214
-221
-495
-149
423
-294 -2,041 -1,143
157
46
-100
211
-105
-94
72
-83
-326
-318
-88
80
-5
-97
-21
113
-204
-149
-36
-19
-247
-227
-120
100
217
217
217
216
-332
-562
343
120
-966
-702
-919
192
-51
-416
-705
-33
-804
-60
-309
-436 -1,365 -3,069 -2,067
415 -1,291
-856
-802
468
-70
89
-159
538
455
79
4
1,991
-325
43
-368
2,316
2,299
-86
103
687
-105
-61
-44
792
729
19
44
106
-58
-132
74
164
-96
36
224
2,709
-241
-119
-122
2,950
3,062
-88
-24
3,958
130
-17
147
3,828
3,894
81
-147
1,578
131
-44
175
1,447
1,581
10
-144
-336
1,931
378
-330
1,344
889
-489
-924 - 2 , 563
150
116
-337
131
721 -1,334
137
-43
-215
-195
1,690
-390
-691
-208
2,957
-154
687
-235
1,547
-233
2,451
-188
5,157
-201
5,854
-160
240
619
399
548
81
-180
-125
63
-266
735
-12
77
-8
904
-137
-571 -1,076
-48
-299
-686
-154
264
805
584
824
564
822
640
830
576
661
673
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.
725
n.a.
n.a.
n.a.
n.a
n.a.
-874
-385
-414
966
-494 -1,606 -2,939 -1,936
133
169
604
-393
-183 -1,148
183
178
-346
209
956
553
-263
-426
257
241
42
-105
-64
211
-713
-182
-297
-112
227
583
-581
-356
-470
371
270
-167
268
n.a
-187
-79
201 -1,143
-895 -1,302
184
-361
71
-437
908
1,058
-193
11
126
-112
-563
-56
-196
-28
168
131
-116
-63
-106
53
596
-578
-375
-601
-356
427 -1,210
-391
-517
-129
-123
-265
-492
-227
-186
-79
-822
-841
-149
168
-516
-605
-72
161
180
179
179
179
178
-949 -2,391 - 5 , 511 -1,933
944
-535
-575
-5
45
310
206
62
42
-430
-267
-122
-41
178
177
-982 -1,420
-859 -1,757
-250
222
127
115
177
342
26
-438
-898
472
-12
27
28
2S
3C
-177
31
-940 -1,626 -1,490 -4,237
-2,747
32
-906 -2,672 -5,698 -9,448 -4,151 -3,188 -2,307 -4,531 -3,851 -6,871
-3,020
33
-3,631
-1,742
-1,295
-447
-1,889
-1,910
6
15
-5,998
-1,611
-1,218
-393
-4,387
-3,905
-175
-307
34
35
36
37
38
3S
4C
41
-851 -4,524 -1,484 -10,502
-9,018
42
7,479
1,085
43
44
575 -1,510 -1,136 -1,084 -2,258 -2,958
142
285
-151
-331
-4
122
-29
150
-118
-132
-40
-91
171
135
-33
-199
36
213
433 -1,795
-985 -1,080 -2,380 - 2 , 627
629 -1,786 -1,044 -1,014 -2,664 -2,979
-66
142
-125
280
83
81
-130 -151
184
72
-149
203
-647 -2,434 -1,749
76
-452
-390
22
-301
-155
54
-151
-235
-723 -1,982 -1,359
-775 -1,761 -1,393
198
149
55
-146
-370
-21
-288
-802
-637
-165
514
436
25
53
990 -2,801 -1,992 -1,886 -3,164 -5,630 -6,345 -11,882 -5,900 -3,476
1,456
109
246
-137
1,347
1,136
-70
281
7
-410
-274
-136
417
295
-32
154
2,367
-131
-77
-54
2,498
1,995
181
322
10,870
-173
5,738
-17
2,546
221
1,057
27
4,467
34
1,645
117
9,124
1,202
-8
-9
366
280
-2
78
-167
-44
123
45
682
659
1,194
-187
429
-231
-55
-111
220
331
46
676
735
778
701
939
1,143
920
1,189
949
717
-232
47
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
48
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
49
-557 -1,223 -1,224 -1,023 -1,000 -3,183 -5,801 -10,079 -4,720 -4,168 -2,376 -5,118 -4,159 -8,613
-4,454
50
505
562
617
-1,437
- 3 , 262
-8,458
51
52
53
54
55
56
Not Seasonally Adjusted
745
484
92
-334
-498
92
1,069 -25C
786 -60S
316 -995
-51 - 1 , 575
-206 -966
1,55C
72
901
673
483
598
396
134
145
23 -435
549
-60 -2,254
60 - 1 , 017 -3,480
-72 1,712 1,209
-539
-875
- 1 , 203
-2,417
-2,611
- 1 , 021
1,274 1,272 1,232
217 -1,266
373
1,403 1,483
-277
940
939
839
-166 -1,689
-34
1,038 1,143
-668
496
565
398 -1,068
-690 -2,191
-586
591
678
1,686 -1,262
-982 - 1 , 569
-28
783 -1,323 -3,482 - 4 , 718
1,026 -508 -1,699 - 1 , 463 -180 -1,858 -6, 612 -10,066 -3, 429
839 -1,974 -2,067 - 2 , 611 -3,186 - 4 , 718 -6,462 -12, 703 -5,870
6. Coverage of liquid banking claims for 1960-1963 and of liquid nonbanking claims for
1960-1962 is limited to foreign currency deposits only; other liquid items are not available
separately and are included with nonliquid claims.
7. Includes changes in nonliquid liabilities reported by U.S. banks and in investments by
foreign official agencies in debt securities of U.S. Government corporations and agencies,
-880
-1,248
-1,853
-3,824
-2,352
- 2 , 506
-1,489
-1,873
-2,471
-2,310
-3,034
-741
673
-2,409
168
299
- 2 , 796 -263
-81
-3,333
-698
- 4 , 052
343 -1,094
- 5 , 299 -3,197 -6,459
- 5 , 590 - 1 , 503 -9,961
private corporations, and State and local governments.
NOTE.—Details may not add to totals because of rounding.
Source: U.S. Department of Commerce, Bureau of Economic Analysis.
SURVEY OF CURRENT BUSINESS
28
June 1973
Table 2.—U.S. International
[Millions
(Credits -f; debits - ) i
Line
Exports of goods and services 2
Merchandise, adjusted, excluding military 3
Transfers under U.S. military agency sales contracts.
Travel
_
Passenger fares
Other transportation
Fees and royalties from unaffiliated foreigners
Other private services
_
U.S. Government miscellaneous services
Receipts of income on U.S. investments abroad:
Direct investment fees and royalties
_
Direct investment interest, dividends and branch earnings *
Other private assets
U.S. Government assets
_
_
Transfers of goods and services under U.S. military grant programs,
net.
1961
1962
1963
1964
1965
1966
1967
1968
27,490
28,773
30,510
32,623
37,304
39,461
43,341
46,210
50,664
55,478
19, 650 20,108
335
402
919
947
175
183
1,607
1,620
247
244
466
500
153
164
20,781
656
957
191
1,764
256
491
195
22, 272 25,501
657
747
1,015
1,207
205
241
1,898
2,076
273
301
529
567
265
26,461
830
1,380
271
2,175
335
633
285
29,310
829
1,590
317
2,333
353
702
326
30, 666 33,626
1,392
1,240
1,775
1,646
371
411
2,426
2,548
454
398
872
818
353
36,400
1,512
2,058
450
2,652
501
988
378
Merchandise, adjusted, excluding military 3
Direct defense expenditures
_
Travel
_
Passenger fares
___
Other transportation
Fees and royalties to unaffiliated foreigners._
Private payments for other services_
U.S. Government payments for miscellaneous services
Payments of income on foreign investments in the United States:
Direct investment fees and royalties
Direct investment interest, dividends and branch earnings * . . .
Other private liabilities
U.S. Government liabilities
1971
1972
62,919
66,287
73,462
41,964
1,478
2,330
544
3,113
583
1,099
383
42,768
1,912
2,464
615
3,280
626
1,320
405
48,769
1,
2,706
694
3,627
670
1,
416
662
2,768
793
381
800
3,044
904
471
890
3,129
1,022
498
1,013
3,674
1,256
456
1,199
3,963
1,421
509
1,329
4,045
1,614
593
1,'
4,518
1,717
1,546
4,973
1,949
765
1,682
5,658
2,267
932
1,919
6,001
2,597
909
2,161
7,295
2,556
887
2,429
8,004
2,697
795
1,765
1,465
1,539
1,562
1,340
1,636
2,073
2,451
2,869
2,856
2,586
3,153
4,200
-14,758 - 1 4 , 5 3 7
-3,087
- 1 , 7 5 0 — 1^ 785
-513
-506
-1,402 -1,437
-40
-46
-436
-426
-313
-406
-35
-220
-511
T332
-43
-194
-535
-278
-16, 260
-3,105
-1,
-570
-1,558
-44
-385
-398
-17,048
-2,961
-2,114
-615
- 1 , 701
-51
-362
-447
-5'
-185
-586
-339
-61
-223
-701
-401
-18, 700 -21,510 -25,493
-2,880 -2,952 - 3 , 764
- 2 , 211 - 2 , • ' " " -2,657
-755
-645
-720
-1,817 -1,951 -2,161
-76
-60
-67
-377
-396
-335
-642
-535
-550
-67
-202
-802
-453
-1,765
-1,465 -1,539 -1,562 -1,340
Unilateral transfers (excluding military grants), net.
-2,292
-2,513 -2,631 -2,742 -2,754
U.S. Government pensions and other transfers
Private remittances and other transfers
U.S. Government capital flows, net
Loans and other long-term assets
Foreign currencies and other short-term assets, net.
Repayments on credits:
Scheduled
Nonscheduled fi
-64
-68
-372
-299
-94 -1,221
-489
-549
-1,636
-2,073
-2,835
-2,890
-1,808 -1,910
-367
-369
-659
-613
-35,807 -39,788 -45, 466
- 4 , 8 5 6 -4,852 -4,829
- 3 , 4 0 7 -3,1
- 4 , 278
- 1 , 215 - 1 , 2 9 0
-2^455 -2,816 - 3 , 0 7 8
-120
-114
-123
-583
-634
-744
-715
-745
-736
-55,681
-4,724
-4,856
-1,580
-3,444
-138
-788
-798
-80
-62
-101
-111
-118
-388
-381
-417
-441
-621
-1,382 -1,843 -3,269 -3,591 - 2 , 3 4 4
-138
-719
-2,522
-777 -1,024 - 1 , 8 4 4
-2,684
-2,451 -2,869 -2,856 -2,586 - 3 , 1 5 3
-4,200
-26,866
-4,378
- 3 , 207
-830
-2,157
-104
-425
-687
-598
-32, 991
-4,535
-3,030
-885
-2,367
-106
-513
-758
-702
-1,104
-1,213
-528
-1,939 -2,129 -2,201 -2,375 -2,454 -2,501 -3,634 -3,714 -3,477 -3,287 - 4 , 1 7 8 - 3 , 8 0 1
62
-447
-16
-265
-261
-19
-16
182
166
-245
209
89
-1,664
-214
-414
583
54
1,921
137
-4,180 -3,426 -4,479 -6,618 -3,793
-5,677 -5,417
-6,916 - 1 0 , 1 1 8
-5,462
-4,352
-4,410 - 4 , 9 4 3
-1,598 -1,654 -1,976 -2,328 -3,468
-3,137 -3,209
-76r
-942
-969 -1,105
-966
-67"
-759 -3,661 -1,266 -1,239 -3, 271
-1,494
-482
-8,534
599
680
-3,878
Direct investments abroad *_.
Foreign securities
-1,674
-663
Claims reported by U.S. banks:
Long-term
Short-term, nonliquid
Short-term, liquid
-153
6 -951
6 -44
Claims reported by U.S. nonbanking concerns:
Long-term
Short-term, nonliquid
Short-term, liquid
-132
-127
-40
• - 3 6 3 6 -371 « -187
8
-60
«
-35
69
2,120
U.S. Government nonliquid liabilities to other than foreign official
reserve agencies
Other foreign private capital:
Direct investments in the United States 4
U.S. securities other than Treasury issues
Other long-term, reported by U.S. nonbanking concerns.
Short-term, reported b y U.S. nonbanking concerns
Long-term, reported by U.S. banks
U.S. liquid liabilities to private foreigners
U.S. liquid liabilities to foreign official agencies
Other readily marketable liabilities to foreign official agencies 7
Nonliquid liabilities to foreign official reserve agencies reported by
U.S. Government
Transactions in U.S. official reserve assets, net.
Gold
:::
215
141
282
1
-91
6
308
1,258
661
326
594
123
651
221
803
997
6
1,114
269
-775
-136
-126
-1,005 6 -358 6 -747 -1,333
» -120 » 34 6 -34
-191
2,467
1,697
25
203
7:
324
50
176
132
134
c
16:
-198
193
-485
-422
-201
2,983
3,31
2,145
606
1,703
85'
442
235
-645
-85
338
-44
-61
297
-658
-209
155
-1,023
-99
-61!
-1,802
-566
-1,269
-1,495
-742
-88
-103
532
-112
-180
-150
-281
-376
-122
-220
-485
-497
-424
yo
-586
-361
351
-168
-530
-531
-202
-315
-492
383
3,320
6,852
9,439
5,945
22, 520
20,833
12,287
-433
-46'
371
328
66
282
-13
-23
53
620
-38
113
88
1,554
57
-357
29
149
241
131
86
909
180
296
188
2,384
918
1,673
9
1,075
149
-18
-38
-1,595
793
110
258
1,016
85
499
158
1,472
319
4,414
715
759
72
3,810
2,020 -3,101
534
894
7,637
-810
27,615
-551
9,72C
-554
-836
535
341
2,348
1,170
1,173
-1,024
-94
-1,183
-870
78'
-851
2,152
389
866
-249
381
1,350
867
717
-431 -2,395 - 1 , 2 0 5
-10,784
123
15
452
171
1,222
568
52
461
125
1,665
571
17
626
-113
29
-220
266
-349
-94
-540
537
-1,084 -1,037 -1,166
NOTE.—Data for 1948-59 are on p . 55.
160
4,335
694
173
14!
4,776
2,477
139
377
Allocations of special drawing rights (SDR)
See footnotes at end of table.
-115
2,269
384
-15
-250
-162
-125
1,806
-978
-520
-322
-857
238
832
1,030
3,130
2,190
1,112
701
902
91
23
160
8,658 -6,240
-880 -1,187
199
1,533
Gold tranche position in IMF
Errors and omissions, net
-3,404
-614
31'
-220
136
1,083
742
1,474
244
-87
-232
-200
525
511
-112
5
215
1,282
_
Convertible currencies
-3,598
1,879
225
579
695
U.S. private capital flows, net..
Foreign capital flows, net
-3,744
-2,174
-2,045
-57:
-99!
-542
—1,011
1
,576
-1,892
-3,081 -2,909 -2,941 -3,214
-1,802 -1,707 -1,644
-1,853 -1,919 -1,917 -1,888
-235
-245
-262
-441
-406
-406 -1,734
-279
-424
-46:
-563
-796
-837
-587
-462
-1,019
-926 -1,094 -1,661 -1,676 -1,598 -1,534 -2,421 -2,268 -2,193 -1,584
429
1970
590
2,355
646
348
U.S. military grants of goods and services, net
U.S. Government grants (excluding military)
38
1969
-23,397 - 2 3 , 1 9 1 -25,424 -26,683 -28,766 -32,320 -38,131 -41,078 -48,199 - 5 3 , 5 8 7 -59,289 - 6 5 , 4 8 0 - 7 8 , 0 7 1
Imports of goods and services
33
1960
81.
-1,034
547
-703
3.
153
711
-3,11!
SURVEY OF CURRENT BUSINESS
June 1973
29
Transactions
of dollars]
1960
1962
1981
1963
1964
Line
II
I
IV
III
II
I
IV
III
II
I
IV
III
I
II
IV
III
I
II
IV
III
6,395
7,005
6,704
7,386
6,997
7,140
6,851
7,785
7,154
7,995
7,272
8,090
7,400
8,392
7,739
9,093
9,014
9,292
8,873
10,124
1
4,664
5,058
4,736
5,192
5,062
4,970
4,719
5,357
5,057
5,513
4,960
5,251
5,019
5,772
5,272
6,209
6,206
6,359
5,987
6,949
58
183
37
387
63
108
36
122
245
46
411
62
113
36
69
299
53
410
62
121
43
85
192
39
399
61
123
39
71
188
33
382
61
122
40
150
260
51
413
61
123
41
89
299
57
398
61
127
41
93
200
43
426
61
128
43
96
206
37
417
62
123
44
228
279
52
441
63
122
48
127
284
59
442
65
122
52
206
188
43
464
66
124
52
166
205
38
415
66
124
56
243
284
57
491
68
128
59
103
308
64
496
69
136
58
145
218
47
496
70
140
62
198
247
46
492
72
138
60
187
334
64
518
74
140
65
162
364
79
527
76
144
67
201
262
53
538
79
145
73
2
3
4
5
6
7
8
134
518
147
59
135
564
157
57
145
520
160
88
176
753
183
145
150
640
184
65
163
621
197
91
159
642
197
61
191
864
216
164
178
643
219
72
199
699
224
126
200
645
225
91
224
210
781
233
88
207
716
257
108
205
665
254
109
268
967
278
193
237
933
291
95
241
881
315
114
239
803
306
119
1,056
235
182
345
129
10
11
12
13
443
622
282
418
324
543
247
351
390
626
218
305
447
678
194
244
307
524
215
294
14
-5,783
-6,092
-6,068
-5,454
-5,341
-5,699
-6,146
-6,006
-5,947
-6,429 -6,582 -6,466 -6,042 -6,689 -7,128 -6,824 -6,592 -7,177 -7,548 -7,450
15
-3,836
-781
-281
-101
-326
-3,867
-769
-471
-161
-369
-9
-99
-3,560
-801
-668
-170
-368
-3,495
-737
-330
-3,409
-786
-284
-82
-79
-335
-3,691
-705
-678
-169
-376
-3,969
-727
-360
-339
-3,468
-781
-463
-183
-364
-3,952
-770
-298
-90
-367
-4,096 -3,980 -4,232 -3,948 -4,244 -4,327 -4,529 -4,366 -4,600 -4,679 -5,055
-699
-810
-726
-747
-697
-763
-761
-725
-737
-763
-748
-852
-509
-387
-414
-341
-446
-745
-320
-549
-831
-572
-209
-177
-191
-109
-202
-209
-104
-94
-111
-235
-99
-454
-384
-417
-392
-419
-437
-424
-474
-464
-389
-455
-10
-11
-12
-12
-12
-115
-150
-117
-11
-98
-99
-11
-81
-95
-12
-86
-92
-96
-157
-15
-86
-15
-95
-91
-101
-143
-14
-98
-77
-11
-93
-75
-16
-99
-69
-11
-93
-82
-15
-119
-110
-120
-70
-11
-96
-88
-103
-137
-100
-107
-164
-107
-135
16
17
18
19
20
21
22
23
-8
-57
-8
-56
-11
-47
-8
-60
-9
-48
-10
-49
-12
-42
-11
-55
-15
-44
-12
-43
-16
-40
-14
-59
-13
-58
-16
-47
-17
-41
-14
-77
-14
-53
-16
-46
-16
-38
-20
-65
-124
-101
-127
-127
-135
-127
-129
-128
-151
-145
-146
-139
-156
-160
-171
-86
-77
-68
-69
-65
-68
-76
-80
-84
-86
-90
-91
-95
-171
-104
-199
-110
-188
-111
-196
-110
-192
-109
-225
-123
24
25
26
27
-443
-622
-282
-418
-324
-543
-247
-351
-390
-626
-218
-305
-447
-678
-194
-244
-307
-524
-215
-294
28
-524
-575
-578
-615
-641
-652
-581
-639
-709
-652
-609
-661
-652
-708
-675
-706
-671
-752
-654
-678
29
-381
-418
-417
-448
-480
-486
-413
-475
-538
-467
-430
-485
-447
-500
-467
-504
-473
-533
-429
-453
-56
-87
-50
-53
-56
-56
-57
-68
-59
-58
-59
-69
-66
-63
-64
-67
-66
-72
-75
-108
-111
-63
-99
-60
-108
-106
-112
-108
-104
-125
-121
-117
-136
-142
-146
-139
-131
-154
-153
-150
30
31
32
-230
-390
-145
-339
-383
414
-467
-490
-397
-446
25
-277
-461
-725
-70
-405
-260
-467
-393
-556
33
-238
-141
-353
-150
-234
-309
-103
-537
-684
-479
-657
-561
-703
-605
-48
-75
29
-50
-31
-572
-100
-527
-67
-624
-266
-444
-14
-507
-151
-486
-95
-388
-142
-409
68
73
22
-540
-182
34
35
132
17
108
5
160
24
183
7
98
5
192
634
78
6
210
51
129
1
154
58
110
476
207
145
125
26
164
241
241
25
147
52
130
33
159
31
159
7
36
37
-651
-738
-944
-1,545
-1,012
-992
-678
-1,497
-1,024
-672
-520 -1,210 -1,078 -1,724
-283 -1,395 -1,333 -1,589 -1,193 -2,503
38
-305
-266
-312
-166
-329
-111
-728
-120
-458
-135
-334
-246
-365
-124
-442
-257
-234
-196
-476
-308
-343
-161
-100
82
6 -346
6 -10
6 -156
6 -3
-9
-97
-64
12
« -128
6 24
—2
6 -137
6-8
690
844
176
40
170
-72
6 -468
625
—2
-70
66
-24
-31
-3
-44
6 -164
66
6 -108
6-5
6 -184
6-33
6 -113
6 -5
6 34
6 -17
507
79
159
469
1,152
688
363
3
82
-10
-54
-8
96
53
-11
-11
-1
-27
3
20
104
I
76
32
152
-5
26
i
-8
26
-12
40
-437
-81
563
225
66
35
32
-1
376
416
480
52
-295
927
58
-12
68
65
6
A'J
59
118
i
(
c
_ t
1
444
-53
1
261
-140
502
-15
-27
6-337
6 _74
-66
6 -18
6 -19
-77
-75
-363
—(
-34
80
]
6 -28
6 15
—L
-169
6 -475
6 -122
-49
-36
-119
6-331
6 76
6
-11
-87
-601
-378
5
24
161
6-2
6 82 6 -270
625
6 -65
-23
-40
175
740
1,071
50
94
638
109
81
102
371
-320
-213
921
371
-170
146
510
-161
124
150
-25
25
11
-483
—54
312
768
-583
-522
131
34
-525
-536
17 -188
6 52 6 -321
625
6 -81
-13
-116
6 16
6 58
6
-707
-430
53
20
-488
-494
6 -36
-268
-425
20
296
-781
-494
39
40
246
-382
-550
-121
41
42
43
-625
-206
-491
-92
-196
-336
-239
-162
2
50
-64
-59
158
6 100
6 _17
-47
-22
1
1
6 46 6-174
6 11
6 -35
c
-103
-27
-47
-130
-144
223
-176
-57
-49
-28
-271
-182
28
-96
99
44
45
46
526
-26
835
749
1,305
508
421
-56
392
1,123
1,858
47
26
-90
44
222
67
37
118
289
161
-44
-24
234
48
41
145
8
-22
6
8
40
52
—6
17
12
50
-87
103
17
-42
29
14
-24
-26
49
6
47
114
-27
-23
702
77
7
-15
-49
-1
22
32
10
226
-538
577
925
9
321
151
-399
-66
6-159
65
427
-30
385
494
276
13
i
881
304
116
446
— 114
-324
104
331
44
t
-458
-164
237
—3
7
-54
2
-51
—]
159
1,057
9
-6
j
397
t
65
24
141
i
-75
14
—5
I
26
200
33
-61
-96
389
32
123
227
24
111
116
196
351
14
-33
-46
(
—28
59
(*)
19
8
115
214
44
-30
-28
65
t
562
24
71
651
389
15
871
64
55
56
-151
58
]
202
-55
50
51
52
53
54
57
-51
303
70
38
46
-73
-20
172
59
60
-58
15
-228
258
118
-45
135
-205
-118
61
-5
131
62
63
-56
-229
-216
-583
-150
-360
82
-609
134
-158
-441
-700
52
25
-316
-179
-52
-279
-644
64
SURVEY OF CURRENT BUSINESS
30
June 1973
Table 2.—U.S. International
[Millions
1965
(Credits + ; debits - ) i
Line
Ex ports of goods and services 2 ..
1967
1966
II
III
IV
II
III
IV
II
III
IV
8,670
10,491
9,563
10,737
10,280
10,962
10, 464
11,635
11,239
11,782
11,006
12,182
Merchandise, adjusted, excluding military 3 .
Transfers under U.S. military agency sales contracts..
Travel....
Passenger fares
Other transportation
_
Fees and royalties from unaffiliated foreigners.
Other private services
_
_
U.S. Government miscellaneous services
5,647
200
271
50
454
81
146
7,092
225
377
65
591
83
153
72
6,383
194
416
94
556
85
163
74
7,339
211
316
62
574
87
171
70
7,091
193
321
57
530
86
170
73
7,401
257
432
86
597
87
172
7,005
172
492
100
7,813
207
345
75
581
91
182
90
7,638
328
358
67
576
94
189
81
7,966
377
427
87
7,190
206
502
135
620
101
210
7,872
Receipts of income on U.S. investments abroad:
Diirect investment fees and royalties
Drect investment interest, dividends and branch earnings 4
Other private assets.
U.S. Govrnment assets...
275
1,031
343
277
1,054
368
352
1,034
371
313
982
411
139
323
890
394
117
356
1,073
415
392
1,446
449
135
312
964
372
112
105
295
843
341
119
119
246
282
784
362
541
531
Transfers of goeods and services under U.S. military grant programs, net
Imports of good and services
372
666
-6,908
-8,263
-4,610
-676
-406
-140
-436
-16
-89
-122
-5,493
-719
-627
-255
-512
-16
-83
-121
-20
-53
-220
-122
150
274
-8,557
324
178
77
380
1,209
436
226
644
-8,578
-9,434 -10,225
-5,913
-877
-424
-145
-487
-15
-78
-144
-6,270
-925
-701
-254
-545
-18
-88
-138
-6,540
-975
-1,
-228
-573
-21
-101
-197
-9,895
-6,770
-987
-495
-128
-556
-23
-111
-163
1,034
418
119
354
965
435
154
655
724
-9,737 -10,216
-5,495
-763
-932
-203
-478
-17
-82
-8,592
-5,912
-794
-473
-122
-526
-18
-82
-139
-18
-78
-224
-118
-15
-56
-231
-118
-15
-112
-269
-131
-16
-82
-264
-133
-16
-6
-279
-134
-15
-88
-313
-138
-372
-666
-274
324
-282
-784
Unilateral transfers (excluding military grants), net..
-661
-830
-675
-670
-838
U.S. Government grants (excluding military).
U.S. Government pensions and other: transfer!
transfers..
-440
-74
-147
-517
-135
-178
-420
-82
-173
-431
-77
-161
-618
-81
-139
-351
-622
-225
-401
-304
-593
-300
-653
141
-699
-94
-470
-114
-631
51
-582
91
-692
-90
-583
-128
152
10
165
6
176
182
15;
23
184
3
182
185
226
253
192
194
-1,586
-525
-453
-1,228
-947
-1,257
-469
-1,680
-1,190
-198
-944
-14'
-441
-209
-893
-205
-643
-357
- 1 , 075
-60
-11
-1,249
-54
-461
-112
135
201
55
121
-41
143
117
-286
152
11'
41
104
-14
-45
92
110
119
6
31
203
-6
-17
212
-20
-33
31
-68
-84
86
—17
-29
-162
-51
-49
36
-28
729
333
1,120
954
1,316
121
-52
-55
-85
-24
28
146
65
85
57
8
-5
173
201
-95
-242
68
72
-149
44
-227
10
39
-35
712
22
55
16
4'
3
-633
52
173
29
39
12
475
38
520
12
66
-113
107
61
134
12
1,211
110
109
78
57
-861
-21
-107
-29
253
-16
28
125
-852
48
40
54
282
-12
-598
88
25
Merchandise, adjusted, excluding military 3
Direct defense expenditures
Travel
Passenger fares.
Other transportation
Fees and royalties to unaffiliated foreigners
Private payments for other services
U.S. Government payments for miscellaneous services
_. .
_
Payments of income on foreign investments in the United States:
Direct investment fees and royalties
Direct investment interest, dividends and branch earnings *
Other private liabilities
U.S. Government liabilities
U.S. military grants of goods and services, net
Private remittances and other transfers .
U.S. Government capital flows, net.
Loans and other long-term assets
-
200
90
599
105
219
84
-10,524 -10,601
-6,416
-1,106 -7,250
-1,327 -1,112
-546
-248
-141
-515
-554
-26
-27
-109
-111
-208
-183
-6,614
-1,085
-468
-159
-536
-25
-100
-151
-6,586
-1,075
-866
-282
-553
-26
-105
-146
-17
-135
-365
-144
-16
-93
-352
-138
-333
-148
-15
-89
-328
-138
-36:
-644
-655
-724
-541
-775
-658
-619
-736
-909
-807
-628
-530
-80
-165
-376
-121
-161
-386
-85
-148
-485
-92
-159
-510
-96
-303
-446
-156
-205
-362
-96
-171
-337
-646
-640
-510
-626
-645
-138
-1,280
441
-781
-127
-733
40
-839
-144
268
178
6
358
<*)
-1,199
-936
-1,280
-2,262
-903
-259
-403
-237
-710
-409
107
-357
-42
143
-26
179
-344
-38
-87
-47
-35
-16
-106
37
-68
-41
-53
-164
11
36
-79
52
-267
-181
1,816
2,425
2,52]
112
-53
-126
70
329
-24
90
20
90
12
520
-19
183
55
1,331
112
34
671
64
133
125
94
6;
-709
-199
375
-38
-80
304
28
540
596
260
-196
-15
-17
-116
-370
-174
Foreign currencies and other short-term assets, n e t -
40
Repayments on credits:
U.S.Scheduled
private capital flows, net. _
Nonscheduled fi
Direct investments abroad *.
Foreign securities
Claims reported by U.S. banks:
Long-term
Short-term, nonliquid
Short-term, liquid
Claims reported by U.S. nonbanking concerns:
Long-term
Short-term, nonliquid
Short-term, liquid-__
Foreign capital flows, net.
-312
U.S. Government nonliquid liabilities to other than foreign official reserve
agencies.
Other foreign private capital:
Direct investments in the United States «._.
U.S. securities other than Treasury issues!
Other long-term, reported by U.S. nonbanking concerns
Short-term, reported by U.S. nonbanking concerns._.
Long-term, reported by U.S. banks
U.S. liquid liabilities to private foreigners
_.
U.S. liquid liabilities to foreign official agencies. _
Other readily marketable liabilities to foreign official agencies 7 .
Nonliquid liabilities to foreign official reserve agencies reported by U.S.
Government.
Transactions in U.S. official reserve assets, net
Gold
_.
Convertible currencies
-.-.-..
Gold tranche position in I M F
c
C)
O
-2C
132
16
760
l,30C
190
10C
68
4
424
68
82
—6
1,027
-419
-375
-18:
832
590
124
68
20S
173
121
5:
15
92
1,012
-58
68
-56
-466
-413
330
178
-26
222
134
-163
22
-426
335
-173
1,007
-424
-10
-462
- 1 , Ul
-4$
-423
-450
31
-41
-4C
-477
306
* Preliminary.
* Less than $500,000 (=•=).
1. Credits, + : Exports of goods and services; unilateral transfers to U.S.; capital inflows
(increase in U.S. liabilities or decrease in U.S. assets); decrease in U.S
official reserve assets.
Debits, —: Imports of goods and services; unilateral transfers to foreigners; capital
outflows (decrease in U.S. liabilities or increase in U.S. assets); increase in
U.S. official reserve assets.
-228
842
Allocations of special drawing rights (SDR).
Errors and omissions, net
(*)
152
-405
2. Excludes transfers of goods and services under U.S. military grant programs.
3. Excludes exports of goods under U.S. military agency sales contracts identified in Census
export documents, and imports of goods included under direct defense expenditures identified in Census import documents, and reflects various other balance-of-payments adjustments
(for valuation, coverage, and timing) to Census statistics; see table 4.
SUEVEY OF CUKKENT BUSINESS
June 1973
31
Transactions—Continued
of dollars]
1968
1969
1970
1972
1971
1973
Line
I
II
III
IV
I
II
III
IV
I
II
III
IV
I
II
III
IV
I
II
III
I
IV
11,749
13,031
12,631
13,253
11,696
14,650
13,836
15,297
15,041
16,292
15,244
16,341
16,225
17,230
16,388
16,445
17,387
17,897
17,532
20,646
22,183
1
7,940
299
377
78
588
108
217
89
8,644
415
465
106
658
112
217
95
8,310
339
548
140
675
115
218
83
*8,732
340
385
88
627
119
220
86
7,442
390
437
82
498
121
227
86
9,862
380
558
113
732
124
240
109
8,927
404
631
163
735
126
255
91
10,169
338
432
92
687
130
266
93
10,116
256
502
103
701
136
269
87
11,010
487
618
143
801
143
273
87
10,025
303
717
181
843
149
276
101
10,813
433
493
117
768
155
280
108
10,913
475
526
124
769
157
297
107
11,166
577
632
157
886
157
319
106
10,733
429
753
190
907
155
341
104
9,956
432
553
144
717
157
363
88
11,778
311
575
135
792
163
362
92
11,914
327
716
180
934
166
372
105
11,491
228
813
216
951
168
373
109
13,586
299
602
162
950
173
382
111
15,430
325
645
169
974
176
392
107
2
3
4
5
6
7
8
9
339
1,098
453
164
375
1,253
491
203
£90
1,151
494
168
442
1,472
512
231
368
1,351
509
184
433
1,308
563
229
412
1,330
569
194
468
1,669
626
326
421
1,614
639
198
496
1,331
662
241
466
1,357
648
180
536
1,700
649
290
478
1,558
643
178
560
1,825
617
227
496
1,481
632
168
627
2,431
664
314
546
1,759
679
194
616
1,743
633
191
573
1,784
682
145
694
2,718
703
266
637
2,382
775
171
10
11
12
13
5%
583
725
966
564
822
640
830
576
661
673
676
735
778
701
939
1,143
920
1,189
949
717
14
-11,004 -11,962 -12,880 -12,352 -11,023 -14,167 -14,375 -14,023 -13,769 -15,060 -15,522 -14,938 -14,742 -17,012 -17,654 -16,072 -18,267 -19,386 -19,942 -20,477 -21,510
15
-7,684 -8,202 -8,471 -8,634 -7,330 -9,742 -9,165 -9,570 -9,455 -10,018 -9,834 -10,481 -10,449 -11,961 -11,804 -11,252 -13,344 -13,660 -13,617 -15,060 -15,987
-1,103 -1,112 -1,147 -1,173 -1,198 -1,187 -1,221 -1,251 -1,180 -1,259 -1,210 -1,203 -1,175 -1,214 -1,204 -1,237 -1,222 -1,242 -1,108 -1,151 -1,167
-508
-753 -1,239
-530
-768
-555
-875 -1,382
-899
-875
-595
-697 -1,139 -1,674
-812 -1,318 -1,827
-623 -1,039 -1,619
-688
-159
-291
-153
-260
-282
-197
-353
-300
-310
-187
-398
-210
-278
-521
-481
-343
-224
-211
-428
-392
-382
-560
-582
-606
-721
-619
-493
-633
-908
-928
-685
-785
-705
-816
-814
-907
-645
-598
-712
-805
-846
-721
-27
-27
-26
-35
-26
-27
-29
-36
-37
-33
-27
-27
-33
-34
-35
-32
-32
-26
-30
-32
-29
-116
-128
-139
-191
-130
-142
-148
-199
-202
-148
-160
-177
-191
-199
-199
-145
-149
-165
-187
-190
-161
-153
-141
-257
-205
-207
-156
-148
-209
-175
-201
-215
-150
-166
-175
-248
-210
-161
-206
-159
-231
-155
16
17
18
19
20
21
22
23
-22
-106
-393
-174
-18
-84
-440
-184
-19
-92
-492
-156
-21
-107
-519
-188
-28
-101
-611
-185
-24
-99
-738
-192
-22
-99
-924
-188
-28
-117
-996
-212
-23
-125
-995
-204
-30
-97
-928
-243
-28
-98
-876
-273
-30
-120
-793
-304
-29
-177
-625
-320
-27
-137
-537
-390
-30
-160
-580
-512
-32
-147
-603
-622
-28
-181
-582
-614
-36
-162
-594
-631
-40
-152
-641
-687
-34
-223
-705
-752
-52
-184
-762
-830
24
25
26
27
-596
-583
-725
-966
-564
-822
-640
-830
-576
-661
-673
-676
-735
-778
-701
-939 -1,143
-920 -1,189
-949
-717
28
-654
-753
-746
-756
-651
-918
-664
-709
-776
-835
-791
-813
-806
-908
-925
-959
-973
-982
-923
-866
-754
29
-393
-92
-169
-470
-91
-192
-391
-122
-234
-453
-102
-201
-374
-99
-178
-569
-102
-247
-328
-104
-233
-373
-102
-233
-444
-100
-232
-442
-118
-275
-400
-122
-269
-448
-122
-243
-465
-124
-217
-524
-142
-241
-503
-138
-284
-553
-138
-269
-605
-142
-225
-598
-142
-242
-536
-121
-265
-435
-166
-265
-379
-172
-203
30
31
32
-274
-470
-715
-649
-360
-482
-437
-353
-313
-667
-659
-318
-248
-301
-321
-464
-491
-656
33
-730
6
-894
17
-901
108
-934
14
-825 -1,141 -1,263
-23
31
14
34
35
335
72
581
48
405
88
583
17
-743
-727
-525
-1,171
130
-936
-102
-789
1
-818
34
-992
230
-987
-98
-702
-59
-797
16
-875
20
-925
-37
-704
44
257
42
308
3
208
55
341
169
249
44
336
34
267
-154
431
-11
284
88
412
114
304
2
-971 -1,506 -1,349 -1,592 -1,375 -2,362
-838
-887 -1,950 -2,247 -1,011 -1,708 -2,241 -2,767 -2,953 -2,158 -3,408
-943
-506
-120 -1,564 -1,638
-125
-210
93
-771
-488
-666
-360
-973 -1,028
-105
-259
-541 -1,010 -1,199
-515
-365
-499
-783 -1,259 -1,296
80
79
-43
473
40
508
4
456
102
-439 -1,585 -1,703 -1,335
-305
-337
-377
-356
-320 -1,692
-437
71
341
593
26
519
111
36
37
-726 -1,769 -2,632 -5,766
38
-256 -2,539
-40
47
39
40
-398 -1,058
209
-346
130
70
149
49
200
-57
155
-118
39
4
-196
-192
123
118
-41
19
-543
-45
121
236
19
34
-469
-142
14
13
236
49
-461
-133
12
275
18
80
-850
-220
15
111
-2
-153
-377
22
-247
-227
-481 -1,055
-341
-245
-189
-324
-453
-346
183
301
-294
-381
-353
51 -1,405 -1,495
-168 -1,107
-422
41
42
43
34
-47
-280
-32
-178
-409
-57
-49
-32
-165
-211
224
-82
135
-253
-80
-101
86
-13
54
194
-249
-161
344
-381
-54
—5
-12
-42
-103
-129
16
56
-64
-281
403
-33
-67
-324
1
-172
-8
-37
-64
-143
-99
-227
-56
-74
52
-290
—i
80
-197
-28
-36
-131
-97
-411
126
-86
280
-572
44
45
46
1,627
1,646
2,027
645
2,400
5,780
9,060
5,281
3,965
4,599
6,664
5,605
10,547
47
-257
41
-189
-70
-70
-204
-124
-92
102
151
77
210
48
1
184
-425
196
908
606
32
379
-191
-79
161
168
-61
34
-71
136 -2,153 -2,140
-361
1,058
-83
45
200
589
183
956
250
42
83
2,189
178
553
166
-41
-73
262
247
160
1,738
1,768
180
361
115
127
139
-61
1,736 -1,823
49
50
51
52
53
54
55
56
57
958
2,500
2,891
3,090
2,996
4,472
3,972
847
-21
106
-21
46
-64
46
-47
331
251
855
154
53
-60
721
5
1,122
165
268
25
2,222
23
1,124
20
227
-12
1,031
41
1,312
376
211
119
-164
246
1,388
156
-83
-6
3,022
164
365
59
80
21
4,648
152
396
145
113
128
1,377
270
491
981
304
341
90
-19
IOC
17
-389 - 1 , 697
124
104
245
190
559
374
720
792
164
325
200
497
-265
168
211
423
-152
19
22
-25
-132 -1,222 -3,189 -2,534
-1,358 -2,190
116
150
247
627
-38
131
406
485 -1,708
137
-43
526
88
-543
-195
-172
2,215
-390
-118
-518
-208
41
2,773
-154
-259
537
-235
743
2,048
-233
-5
2,279
-188
55
4,776
-201
-2
5,788
-160
-4
11,506
-173
-3
5,545
-17
350
2,108
221
280
771
27
5,356
34
78
1,485
117
-165
8,582
1,202
-43
-299
-686
-154
-386
1,022
801
1,040
145
838
1,373
-8
-103
-53
122
66
220
58
233
-13
59
60
61
62
904
-137
-571 -1,076
-48
1,362
22
-74
-137
56
-317
-11
-695
-401
-57
267
-426
-474
-23
-575
-364
-73
-31
' 246
-228
-442
-233
1,083
-542
-28
-44
—920
831
-253
14
—37
818
227
395
—34
34
406
-446
548
-293 -1,126
-662
-596
-11
-172
-382
-3%
4. Excludes reinvested earnings of foreign incorporated affiliates of U.S. firms or of U.S
incorporated affiliates of foreign firms.
5. Includes sales of foreign obligations to foreigners.
6. Coverage of liquid banking claims for 1960-63 and of liquid nonbanking claims for 196062 is limited to foreign currency deposits only; other liquid items are not available separately
and are included with nonliquid claims.
109
—592
373
255
456
196
-66
252
300
150
72
851
1
-S
544
—710
&
-8
717
867
-240
422
140
469
9
-255 -1,031 -2,502 -4,971 -2,280
-245
185
134
-15
82
-16
710
63
989 -1,029 -1,221 -1,851 -4,264
64
7. Includes changes in nonliquid liabilities reported by U.S. banks and in investments by
foreign official agencies in debt securities of U.S. Government corporations and agencies,
private corporations, and State and local governments.
NOTE.—Details may not add to totals because of rounding.
Source: U.S. Department of Commerce, Bureau of Economic Analysis.
SUEVEY OF CUERENT BUSINESS
32
June 1973
Table 3.—U.S. International
[Millions
Line
1960
(Credits + ; debits - ) i
II
Exports of goods and services 2
6,584
Merchandise, adjusted, excluding military 3__
Transfers under U.S. military agency sales contractsTravel..
Other transportation
,
Fees and royalties from unaffiliated foreignersOther private services
._
U.S. Government miscellaneous services
Receipts of income on U.S. investments abroad:
Direct investment fees and royalties
Direct investment interest, dividends and branch earnings 4
Other private assets
_
U.S. Government assets.
~
Transfers of goods and services under U.S. military grant programs, net..
Imports of goods and services
--
Merchandise, adjusted, excluding military 3
_
Direct defense expenditures
Travel
_
Passenger fares
__
-Other transportation
Fees and royalties to unaffiliated foreigners
-Private payments for other services.—.
U.S. Government payments for miscellaneous services
--
-
---
Payments of income on foreign investments in the United States:
Direct investment fees and royalties
_.-.Direct investment interest, dividends and branch earnings *
Other private liabilities
U.S. Government liabilities
-U.S. military grants of goods and services, net
___
---
..
1961
III
IV
II
III
IV
7,031
7,048
7,197
6,941
7,227
7,410
71
224
46
405
63
108
4,916
89
227
43
400
62
113
5,031
88
237
43
407
62
121
5,018
86
231
43
395
61
123
5,095
86
228
42
399
61
122
40
^4,806
112
237
48
403
61
123
41
5,038
111
240
5,169
47
396
61
127
41
47
421
61
128
43
140
571
151
84
138
592
152
62
152
569
166
112
160
623
178
91
157
687
188
92
166
650
192
102
167
715
203
81
173
715
211
106
94
242
443
622
282
418
324
543
247
351
-5,984
-6,016
-5,853
-5,546
-5,551
-5,604
-5,953
-6,086
-3,812
-781
-435
-140
-346
-9
-97
-74
-3,858
-769
-447
-114
-359
-9
-99
-82
-801
-437
-127
-355
-10
-119
-78
-3,440
-737
-431
-133
-342
-11
-120
-79
-3,394
-786
-440
-115
-354
-11
-96
-101
-3,438
-781
-437
-133
-356
-12
-3,809
-705
-442
-133
-362
-12
-115
-109
-3,896
-727
-466
-125
-366
-12
-117
-103
-8
-56
-125
-101
-58
-127
-11
-57
-133
-77
-49
-128
-128
-69
-10
-51
-129
-65
-12
-51
-135
-11
-44
-143
-76
-443
-622
-282
-324
-543
-247
-351
-630
-625
-601
-659
-458
-63
-109
-467
-60
-437
-56
-108
-492
-57
-110
-516
-68
-418
Unilateral transfers (excluding military grants), net.
-510
-551
-600
U.S. Government grants (excluding military)
U.S. Government pensions and other transfers_._
Private remittances and other transfers
-358
-56
-96
-400
-50
-101
-443
-53
-104
-237
-340
-162
-632
-463
-56
-113
-366
-392
468
-486
-247
-167
-335
-125
-264
-105
-367
-131
-418
-104
-285
-82
-568
-24
160
17
115
5
201
634
100
6
152
51
-262
-166
125
7
-1,328
-635
-120
125
5
-667
-343
-266
183
24
-1,216
-434
-111
-1,032
-496
-135
-913
-284
-246
-976
-483
-124
-1,259
-336
-257
12
e-132
«24
e-55
6-19
-27
6-519
6-74
-72
6-245
6 25
82
s-356
6-10
-34
-182
6-3
-15
e-220
-169
6-247
6-122
-2
6 35
65
-12
6-80
6-8
-2
6-55
-24
6-263
66
-31
6-81
6-5
-3
6-128
6-33
-44
6 -100
U.S. Government capital flows, net.
Loans and other long-term assets_._
Foreign currencies and other short-term assets, n e t .
Repayments on credits:
Scheduled
Nonscheduled «
-U.S. private capital flows, net..
Direct investments abroad *.
Foreign securities
Claims reported b y U.S. banks:
Long-term.
_
Short-term, nonliquid
Short-term, liquid
Claims reported b y U.S. nonbanking concerns:
Long-term
----Short-term, nonliquid
-.
Short-term, liquid
Foreigncapitalflows.net.
-
-
U.S. Government nonliquid liabilities to other than foreign official reserve agencies._.
Other foreign private capital:
Direct investments in the United States *
__.
_.
U.S. securities other t h a n Treasury issues
Other long-term, reported b y U.S. nonbanking concerns.
Short-term, reported by U.S. nonbanking concerns
Long-term, reported by U.S. banks
U.S. liquid liabilities to private foreigners. _
_
U.S. liquid liabilities to foreign official agencies
O ther readily marketable liabilities to foreign official agencies 7
Nonliquid liabilities to foreign official reserve agencies reported by U.S. Government.
Transactions in U.S. official reserve assets, net
Gold..
SDR
Convertible currencies
Gold tranche position in I M F . .
-
„...
-
_
878
869
66
340
181
6
6 15
6-5
-49
6-62
6 -17
35
390
507
932
642
-10
-14
6
42
-10
-11
-11
-1
-27
3
-291
20
104
-3
76
1
-249
32
152
—1
618
-5
3
26
-12
4
26
66
35
32
-1
524
455
-372
44
40
170
4
-5
1
286
59
118
3
-53
1
307
53
5
-5
-6
1
201
435
242
190
-30
692
159
175
740
1,071
371
-320
-213
50
94
638
921
371
-170
146
510
-161
11
124
150
-25
25
-54
312
-353
-454
70
-300
109
81
102
768
Allocations of special drawing rights (SDR)
Errors and omissions, n e t .
See footnotes at end of table.
-223
-299
-280
SURVEY OF CURRENT BUSINESS
June 1973
33
Transactions—Seasonally Adjusted
of dollars]
1963
1962
I
II
7,334
7,783
IV
III
7,735
7,660
1964
III
I
IV
1965
I
II
7,601
8,164
8,230
8,628
9,195
9,073
9,421
9,617
8,849
5,939
148
264
53
485
70
140
62
6,242
207
292
60
523
60
6,199
151
297
61
506
74
140
65
6,423
192
303
61
519
76
144
67
6,637
198
315
60
527
79
145
73
5,687
207
319
64
484
81
146
69
242
828
273
124
245
933
296
127
250
901
306
123
251
920
318
147
267
919
337
60
285
1,020
347
140
II
HI
IV
I
II
Line
III
IV
10,269
10,160
10,186
1
6,938
188
337
64
577
83
153
72
6,863
229
347
71
546
85
163
74
6,973
206
377
72
568
87
171
70
2
3
4
5
6
7
8
9
288
1,066
357
146
309
968
357
148
317
908
362
75
10
11
12
13
14
5,077
110
247
47
438
62
123
44
5,336
189
250
49
432
63
122
48
5,331
154
231
47
440
65
122
52
5,037
204
229
48
454
66
124
52
5,063
187
245
" 49
439
66
124
56
5,599
195
253
54
482
68
128
59
5,671
127
253
50
492
69
136
58
185
678
221
102
203
736
218
137
211
736
232
114
202
894
232
118
217
798
236
121
214
743
251
118
217
760
262
135
390
626
218
305
447
678
194
244
307
524
215
294
372
666
274
324
-6,812
-6,845
-6,915
-7,099
-7,260
-7,493
-7,266
-8,186
-8,245
-8,628
15
-6,201
-6,341
-6,390
-6,495
-6,423
-6,603
-3,966
-770
-466
-130
-386
-11
-93
-93
-4,080
-763
-483
-148
-383
-11
-93
-91
-4,116
-761
-488
-141
-370
-11
-101
-105
-4,098
-810
-502
-151
-418
-11
-98
-110
-4,064
-763
-503
-156
-413
-11
-81
-107
-4,226
-748
-525
-144
-414
-12
-86
-111
-4,372
-726
-545
-153
-438
-13
-96
-118
-4,386
-725
-541
-162
-437
-14
-98
-111
-4,416
-747
-531
-153
-446
-15
-86
-151
-4,598
-737
-544
-167
-451
-15
-95
-117
-4,756
-699
-555
-169
-459
-15
-107
-127
-4,930
-697
-581
-156
-461
-16
-107
-141
-4,688
-676
-600
-188
-459
-16
-89
-132
-5,484
-719
-603
-179
-507
-16
-83
-140
-5,567
-763
-610
-167
-465
-17
-82
-134
-5,771
-794
-625
-189
-521
-18
-82
-144
16
17
18
19
20
21
22
23
-15
-45
-146
-80
-12
-46
-147
-84
-16
-49
-146
-86
-14
-46
-147
-90
-13
-60
-161
-91
-16
-53
-173
-95
-17
-51
-179
-104
-14
-59
-188
-110
-14
-54
-191
-111
-16
-51
-198
-110
-16
-47
-201
-109
-20
-50
-211
-123
-20
-55
-221
-122
-18
-90
-229
-118
-15
-67
-240
-118
-15
-87
-254
-131
24
25
26
27
-390
-626
-218
-305
-447
-678
-194
-244
-307
-524
-215
-294
-372
-666
-274
-324
28
-670
-733
-654
-710
-682
-710
-644
-780
-711
-700
29
-445
-67
-142
-500
-66
-144
-461
-72
-149
-482
-75
-153
-411
-74
-159
-477
-135
-168
-461
-82
-168
-459
-77
-164
30
31
32
-702
-697
-620
-632
-682
-638
-515
-68
-114
-444
-59
-117
-457
-58
-117
-504
-59
-119
-422
-69
-147
-471
-66
-133
-497
-63
-142
-528
-64
-141
-411
-384
8
-307
-479
-654
-88
-440
-283
-386
-416
-591
-368
-535
-255
-440
33
-650
87
-665
37
-558
-141
-593
43
-642
-79
-551
-86
-667
106
34
35
-483
-84
-476
-131
-520
-79
-650
49
-557
-98
-581
-251
-486
-27
-577
-71
-502
-2
155
1
165
58
131
476
149
145
150
26
144
34
184
241
183
25
169
52
144
33
181
31
101
7
172
10
180
6
200
182
98
23
36
37
-1,049
-272
-196
-630
-429
-308
-855
-498
-87
-894
-455
-378
-1,112
-620
-522
-1,719
-492
-536
-641
-334
-100
-1,008
-530
53
-1,387
-462
20
-1,578
-613
-206
-1,557
-664
2
-2,096
-588
-494
-1,684
-1,245
-198
-432
-879
-147
-847
-635
-209
-830
-709
-205
38
39
40
5
—119
«25
24
6-37
e-65
17
6 15
6 25
-188
e-314
6-2
6-81
-116
6-196
6 58
-488
6-252
6-36
-268
-475
4
-92
-233
-268
-239
-305
181
-382
-320
-108
-461
-174
108
201
29
199
-41
9
48
69
-64
170
41
42
43
-23
6 53
8-35
-40
8-152
6 11
-3
6 37
8-17
-47
-69
89
50
-63
-95
1
-19
65
158
-47
134
-27
-93
-86
-57
-48
-61
-271
-197
-64
-130
-84
10
6
-18
298
-6
-16
187
-20
-54
55
-68
-15
-8
44
45
46
-119
0-352
6
76
-66
«-125
»5
-36
150
6
e
690
621
-329
718
1,147
1,464
142
232
394
551
685
1,687
207
-292
308
161
47
18
-21
89
116
31
136
178
166
136
37
32
122
26
171
-2
-130
48
41
145
8
-22
6
-23
3
13
4
-512
8
6
7
-54
2
109
-5
14
-6
-30
3
194
47
114
4
65
24
251
40
52
—6
17
12
-30
-87
103
-5
-75
14
205
17
-42
-5
5
10
14
29
14
-27
-30
-28
65
-24
-26
518
77
7
-15
-49
-1
100
-95
-242
-5
68
72
-7
44
-227
10
39
-35
538
22
55
16
47
31
-393
49
50
51
52
53
54
-18
524
91
324
921
-111
-104
22
296
26
-63
-217
-29
25
882
9
-68
-17
200
-35
-16
—8
337
28
148
55
56
57
—1
(*)
19
8
253
161
44
-14
432
24
71
855
85
57
8
-5
173
-7
33
15
194
584
64
22
-101
-21
—8
.... i
427
-164
881
389
32
123
227
-5
-51
303
70
-151
842
68
41
271
58
304
116
446
24
111
116
196
38
46
-73
-20
172
832
590
124
119
-114
237
-324
44
104
331
351
14
-33
-46
6
1
-28
59
-58
15
-228
131
258
118
-45
135
-205
-118
-58
68
-56
-466
-413
330
178
-26
59
60
61
62
-93
-265
-418
-389
-128
-105
-356
171
-299
-154
-261
-263
64
-112
-451
-20
64
63
June 1973
SURVEY OF CURRENT BUSINESS
34
Table 3.—U.S. International Transactions—
[Millions
1
2
3
4
5
6
7
8
9
10
11
12
13
Exports of goods and services 2
Merchandise, adjusted, excluding military 3__
Transfers under U.S. military agency sales contracts_
Travel
Passenger fares
Other transportation
_
_
Fees and royalties from unaffiliated foreigners
Other private services
U.S. Government miscellaneous services
Receipts of income on U.S. investments abroad:
Direct investment fees and royalties
Direct investment interest, dividends and branch earnings *
Other private assets
U.S. Government assets
14
Transfers of goods and services under U.S. military grant programs, net
15
Imports of goods and services
16
17
18
19
20
21
22
23
24
25
26
27
1966
(Credits + : debits - ) i
Line
..
Merchandise, adjusted, excluding military 3
Direct defense expenditures
Travel
Passenger fares
Other transportation
Fees and royalties to unaffiliated foreigners
Private payments for other services
U.S. Government payments for miscellaneous services
Payments of income on foreign investments in the United States:
Direct investment fees and royalties
Direct investment interest, dividends and branch earnings 4
Other private liabilities
U.S. Government liabilities
.
I
II
10,539
10,668
7,193
196
374
73
564
86
170
75
7,171
214
394
84
581
87
172
82
326
958
377
147
324
1,015
398
146
1967
IV
I
II
10,951
11,184
11,459
11,467
11,560
11,724
7,408
203
410
74
609
89
178
79
7,538
216
412
87
580
91
182
90
7,688
329
412
88
610
94
189
83
7,714
329
392
87
612
98
200
85
7,663
240
414
99
599
101
210
83
7,601
341
428
98
604
105
219
84
334
1,009
412
146
344
1,063
426
155
355
1,031
424
156
363
1,006
421
160
365
1,201
433
152
356
1,279
439
170
III
IV
III
282
784
362
644
655
724
541
531
-9,003
-9,272
-9,873
-9,985
-10,120
-10,045
-10,197
-10,719
- 6 , 030
-877
—644
-191
—512
-15
—78
-158
-6,170
-925
—676
-182
— 539
-18
—88
-159
- 6 , 617
-975
-666
-188
— 562
-21
-101
-161
- 6 , 676
-987
-671
-194
-548
-23
-111
-164
- 6 , 668
-1,085
-707
-207
-561
-25
-100
-166
-6,476
-1,075
-843
-205
-547
-26
-105
-168
-6,570
-1,106
-914
-204
-505
-26
-109
-174
-7,152
-1,112
-743
-214
-545
-27
-111
-18C
—16
-85
—266
-131
—16
-78
-285
-136
—15
-101
-322
-144
-17
-108
-348
-138
-16
-94
-354
-137
-15
-95
-340
-150
-15
-97
-332
-145
-357
-16C
-17
-9t
28
U.S. military grants of goods and services, net.
-282
-784
-362
-644
-655
-724
-541
-531
29
Unilateral transfers (excluding military grants), net .
-822
-717
-696
-655
-721
-849
-844
-667
30
31
32
U.S. Government grants (excluding military)
U.S. Government pensions and other transfers .
Private remittances and other transfers. ..
-588
—81
-153
-484
—80
-153
-419
-121
-156
-419
-85
-151
-455
-92
-174
-462
-96
-291
-489
-156
-199
-397
-314
-502
-340
-379
-642
-539
-555
-683
—488
-32
—640
-64
—685
-94
-689
-75
-1,157
301
-734
-92
-855
77
-88'
203
3
195
7
213
226
193
192
214
(*)
287
(*)
217
6
28C
(*]
-1,101
-1,037
-924
-1,290
-1,102
-907
-1,807
-1.86C
-728
-357
-934
-60
-917
-11
-1,082
-54
-707
-259
-518
-237
-947
-409
-964
-36:
117
—42
68
1
—13
37
92
-30
47
107
—135
-16
143
-131
-41
179
-315
53
-87
-202
-122
2.
— 17
—82
-60
—51
—45
28
—28
—28
-49
—16
—25
-69
—68
—97
58
-164
19
76
36
-126
50
-8,
— 17S
-30(
493
1,049
644
1,137
384
1,927
2,169
2,372
-100
22
81
62
60
157
-8
-21]
52
173
29
39
12
279
38
520
12
66
157
155
-113
107
61
134
12
997
110
109
78
57
7
953
64
133
125
94
67
-895
70
329
-24
90
20
195
12
520
-19
183
55
1,099
1,072
— 71
48
32
— 184
282
-19
—739
88
16
—600
375
-14
413
304
19
507
596
-13
200
-196
323
90C
19C
12S
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
U.S. Government capital flows, net
Loans and other long-term assets
Foreign currencies and other short-term assets, net
Repayments on credits:
Scheduled
Nonscheduled 5
U.S. private capital flows, net
Direct investments abroad 4
.
Foreign securities
Claims reported by U.S. banks:
Long-term
Short-term, nonliquid
Short-term, liquid
.
Claims reported by U.S. nonbanking concerns:
Long-term
Short-term, nonliquid
Short-term, liquid
Foreign capital flows, net..
U.S. Government nonliquid liabilities to other than foreign official reserve agencies
Other foreign private capital:
Direct investments in the United States *
_
U.S. securities other than Treasury issues
Other long-term, reported by U.S. nonbanking concerns.
Short-term, reported by U.S. nonbanking concerns
Long-term, reported by U.S. banks. . . .
U.S. liquid liabilities to private foreigners... .
U.S. liquid liabilities to foreign official agencies
Other readily marketable liabilities to foreign official agencies 7
Nonliquid liabilities to foreign official reserve agencies reported by U.S. Government
59
60
61
62
Transactions in U.S. official reserve assets, net
Gold
SDR
Convertible currencies
Gold tranche position in IMF
63
Allocations of special drawing rights ( S D R ) .
64
Errors a n d o m i s s i o n s , net
58
p Preliminary.
*Less than $500,000 (d=).
1. Credits, -f: Exports of goods and services; unilateral transfers to U.S.; capital inflows
(increase in U.S. liabilities or decrease in U.S. assets); decrease in U.S.
official reserve assets.
Debits, —: Imports of goods and services; unilateral transfers to foreigners; capital outflows (decrease in U.S. liabilities or increase in U.S. assets); increase in U.S.
official reserve assets.
-9e
-174
-It
115
34
S
132
ie
424
68
82
-6
1,027
-419
-375
-181
68
209
173
121
51
15
92
1,012
222
134
-163
22
-426
335
-173
46
1,007
-31
-424
-10
-462
-5
-1,145
-48
-216
-257
156
-6
-285
-635
49
14
2. Excludes transfers of goods and services under U.S. military grant programs.
3. Excludes exports of goods under U.S. military agency sales contracts identified in Census
export documents, and imports of goods included under direct defense expenditures identified
in Census import documents, and reflects various other balance-of-payments adjustments
(for valuation, coverage, and timing) to Census statistics; see table 4.
SURVEY OF CURRENT BUSINESS
June 1973
35
Seasonally Adjusted—Continued
of dollars]
1968
1970
1969
1972
1971
1973
Line
I
11,94
II
III
IV
I
II
III
IV
12,69
13,30
12,71
11,94
14,19
14,53
14,805
7,94
30
43
10
62
10
21
9
8,39C
34
43
10
63
11
21
8
8,89
39
45
10
64
11
21
8
8,39
35
46
104
63
11
22
8
7,49C
40
49
10
52
12
22
8
9,48
32
51
11
710
124
240
10
9,56
44
51
11
70
12
25
95
9,861
336
523
111
709
130
266
94
361
1,097
462
206
38
1,30
47
20
398
1,278
512
210
404
1,29
49
14
394
1,334
51
22
438
1,367
550
231
420
1,473
582
23
429
1,484
618
244
725
96
564
822
640
830
596
I
II
III
15,376
IV
I
II
16,781
III
IV
I
II
III
IV
I*
15,768
15,975
15,803
16,487
17,282
15,739
17,587
17,463
18,491
19,921
22,435
1
10, 239 10,564
435
268
570
575
13
13
776
737
143
136
273
269
84
90
10,704
347
591
134
809
149
276
102
10,457
429
594
140
791
155
280
107
10, 872 10, 791 11, 522
498
489
507
594
590
623
148
153
147
851
818
863
157
157
155
319
297
341
103
109
104
9,583
419
657
167
747
157
363
89
11,655
328
652
167
851
163
362
95
11,539
288
672
170
884
166
372
102
12,362
262
680
169
893
168
373
108
13,213
287
702
187
999
173
382
112
15,320
343
733
209
1,047
176
392
110
2
3
4
5
6
7
8
9
459
1,588
648
241
483
1,406
650
240
482
1,503
659
219
495
1,505
641
209
516
1,604
646
223
546
1,930
615
224
523
1,667
640
208
576
2,094
655
232
587
1,805
680
242
600
1,850
633
187
606
1,994
690
186
636
2,355
694
181
683
2,426
776
220
10
11
12
13
576
661
673
676
735
778
701
939
1,143
920
1,189
949
717
14
-11,487 -11,845 -12,454 -12,414 -11,662 -13,939 -13,863 -14,126 -14,469 -14,797 -14,928 -15,099 -15,533 -16,650 -17,002 -16,299 -18,961 -18,889 -19,430 -20,791 -22,434
15
-7,823 -8,136 -8,576 -8,456 -7,589 - 9 , 572 -9,271 -9,375 - 9 , 727 - 9 , 831 - 9 , 961 -10,269 -10, 743 -11, 708 -11,907 -11,108 -13,475 -13,313 -13,935 -14,958 -16,280
-1,103 -1,112 -1,147 -1,173 -1,198 -1,187 -1,221 -1,251 -1,180 -1,259 -1,210 -1,203 -1,175 -1,214 -1,204 -1,237 -1,222 -1,242 -1,108 -1,151 -1,167
-788
-829
-760
-744
-853
-860
-935 -1,001 -1,021 -1,012 -1,048 -1,061 -1,056 -1,113 -1,166 -1,214 -1,181 -1,295 -1,261
-738
-865
-230
-255
-365
-232
-284
-292
-406
-207
-216
-264
-275
-332
-315
-406
-277
-293
-387
-422
-320
-368
-310
-607
-518
-894
-596
-675
-628
-577
-631
-812
-587
-755
-795
-632
-716
-797
-853
-901 -1,021
-764
-716
-708
Q
-26
-27
-33
-26
-33
-32
-37
-27
-32
-29
-27
-27
-30
-32
-29
-35
-36
-27
-35
-26
-130
-142
-191
-139
-148
-149
-202
-128
-190
-148
-116
-177
-187
-145
-161
-191
-199
-199
-160
-191
-165
-175
-175
-192
-248
-185
-182
-202
-167
-193
-177
-168
-173
-188
-178
-185
-205
-206
-195
-181
-191
-189
16
17
18
19
20
21
22
23
583
-22
-104
-395
-175
-18
-95
-449
-182
-19
-98
-493
-165
-21
-92
-507
-180
-28
-98
-615
-188
-24
-111
-752
-191
-22
-105
-919
-196
-28
-102
-983
-202
-23
-115
-998
-208
-30
-109
-942
-241
-28
-105
-866
-285
—3f
-111
-786
-290
-29
-157
-638
-336
-27
-146
-560
-402
-30
-176
-573
-514
-32
-142
-574
-592
-28
-159
-595
-641
-40
-170
-633
-683
-34
-217
-671
-712
-52
-161
-779
-866
-920 -1,189
-36
-172
-623
-648
24
25
26
27
-596
-583
-725
-966
-564
-822
-640
-830
-576
-661
-673
-676
-735
-778
-701
-939 -1,143
-949
-717
28
-639
-692
-785
-794
-639
-861
-702
-740
-769
-782
-825
-839
-803
-859
-958
-978
-969
-938
-954
-881
-751
29
-362
-92
-185
-422
-91
-179
-435
-122
-228
-488
-102
-204
-345
-99
-195
-525
-102
-234
-372
-104
-226
-402
-102
-236
-417
-100
-252
-402
-118
-262
-444
-122
-259
-471
-122
-246
-438
-124
-241
-486
-142
-232
-549
-138
-271
-573
-138
-267
-578
-142
-249
-563
-142
-233
-581
-121
-252
-452
-166
-263
-351
-172
-228
30
31
32
-577
-601
-706
-629
-570
-363
-405
-625
-705
-458
-398
-344
-425
-419
-570
-387
-357
-210
-228
-535
-566
33
-1,032
-16
-892
-54
-923
38
-867
95
-853
104
-933
-50
-847
-33
-845
68
-738
-89
-860
8
-860
67
-829 -1,131 -1,224
119
-16
-2
-892
30
-932
49
-779
18
-852
49
-990 -1,180 -1,145
63
37
-109
34
35
300
42
314
260
55
240
169
300
44
324
34
329
-154
433
463
372
566
366
341
394
478
403
2
114
72
4
48
40
102
88
88
-818 -1,918 -1,478 -1,664 -1,857 -2,212 -2,209 -3,481 -2,217 -3,384
558
17
-891 -1,153 -1,708 -1,664 -1,517 -1,840 -1,288
-456
-360
-843 -1,033
-259
-105
-876
-515
-930 -1,004
-365
-499
-903
-506
330
-11
-435 -1,279 -1,233
-125
93
-210
-886 -1,014 -1,255 -1,343 -1,450
-377
-356
-488
-337
-305
-895 -1,302
-437
71
411
577
111
36
37
-501 -2,119 -2,529 -5,749
38
-183 -1,148
209
-346
-771 -2,139
-40
47
39
40
490
26
130
-63
89
49
270
43
155
-297
-61
4
46
-132
123
-94
-119
19
-318
-17
121
-97
-44
34
-149
-29
14
-227
150
49
-196
-118
12
-105
-40
80
-495
-91
15
-129
-132
-153
-227
22
-247
-841
-301
-227
-605
-155
-189
-575
-637
-346
206
246
-353
-267
-274
-294
-381
-859 -1,757
-77 -1,295
41
42
43
34
-106
-159
-32
-167
-368
-57
-112
-44
-165
-100
74
-82
72
-122
-80
-88
147
-13
-21
175
-249
-36
171
-381
-120
135
-12
-28
-33
-129
-64
36
-64
-149
213
-33
-123
-199
1
-186
54
-37
-149
-151
-99
-72
-235
-74
-5
-165
-3
62
-137
-28
-122
-136
-97
-250
-86
222
-447
44
45
46
1,205
2,322
2,436
3,473
3,297
4,067
3,628
1,299
1,748
1,027
1,771
1,404
2,725
5,060
8,684
6,053
4,386
4,086
6,051
6,305
11,082
47
-18
170
1
-43
-75
98
-15
258
-18
-206
52
-261
-65
-5
-211
-187
-79
133
169
15
222
48
251
855
154
53
-60
538
5
1,122
210
268
25
2,316
23
1,124
88
227
-12
792
41
1,312
263
211
119
164
246
1,388
173
-83
-6
2,950
164
365
101
80
21
3,828
152
396
232
113
128
1,447
1
184
-425
196
606
908
45
-89
225
-79
168
161
-61
-71
34
-723 -1,982 -1,359
-361
1,058
-38
45
200
514
183
956
260
42
83
1,347
178
553
269
-41
-73
417
160
247
1,768
1,738
203
228
127
115
-61
139
2,498 -1,889
49
50
51
52
53
54
-924 -2,563
116
150
240
619
-337
131
399
721 -1,334
137
-43
548
81
-215
-195
-180
1,690
-390
-125
5,854
-160
-8
10,870
-173
-9
5,738
-17
366
2,546
221
280
1,057
27
-2
4,467
34
78
1,645
117
-167
9,124
1,202
-44
55
56
57
-231
-55
-111
220
-171
-245
185
3
-177
134
-15
-177
82
-16
178
177
177
270
491
981
304
195
122
100
-19
7
17
1
,
795
433
-691
-208
63
104
124
245
190
374
559
720
792
366
203
299
325
168
-265
211
423
19
-152
22
-25
-985 -1,080 -2,380 -2,627
2,957
-154
-266
687
-235
735
1,547
-233
-12
2,451
-188
77
5,157
-201
-8
904
-137
-48
-299
-686
-154
264
805
584
824
682
659
1,194
-187
429
1,362
22
-74
-137
56
-317
-11
-695
-401
-57
267
-426
-474
-23
-575
-364
-73
-31
246
-228
-442
-233
1,083
-542
-44
-270
831
-253
14
-254
818
227
395
-251
34
406
422
-76
469
9
109
-55
373
255
456
17
-66
252
300
-29
72
851
1
-182
2
-8
544
-178
64
-1
217
217
217
216
180
179
179
179
178
-332
-562
343
-966
-702
-919
192
-51
-416
-949 -2,391 -5,511 -1,933
944
-571 -1,076
120
-705
4. Excludes reinvested earnings of foreign incorporated affiliates of U.S. firms or of U.S.
incorporated affiliates of foreign firms.
5. Includes sales of foreign obligations to foreigners.
6. Coverage of liquid banking claims for 1960-63 and of liquid nonbanking claims for
1960-62 is limited to foreign currency deposits only; other liquid items are not available
separately and are included with nonliquid claims.
-33
ZA
58
59
233
-13
-940 -1,626 -1,490 -4,237
60
61
62
63
64
7. Includes changes in nonliquid liabilities reported by U.S. banks and in investments by
foreign official agencies in debt securities of U.S. Government corporations and agencies,
private corporations, and State and local governments.
Source: U.S. Department of Commerce, Bureau of Economic Analysis.
SURVEY OF CURRENT BUSINESS
36
June 1973
Table 4.—U.S.
[Millions
Line
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970
1971
1972
EXPORTS
1
Merchandise exports, Census basis, 1 including reexports and military grant shipments.
0,600
1,036
1,713
23,387
6,649
7,521
30,430
1,622
4,636
8,006
43,224
4,130
9,768
2
Merchandise exports, Census basis, including reexports, excluding
military grant shipments.
9,651
0,226
0,986
22,467
5,831
6,742
29,490
1,030
4,063
7,332
42,659
3,549
9,208
3
3a
3b
3c
3d
3e
Regular additions to Census exports
Private gift parcel remittances
Virgin Islands exports to foreign countries.... ..
Gold exports, nonmonetary
Inland freight (to Canada)
valuation adjustment .
Other regular additions2
_
Regular deductions from Census exports3
243
66
234
59
240
51
246
44
245
45
266
45
2
164
11
1
166
8
1
174
14
(*)
183
19
184
16
2
205
14
268
44
4
2
215
3
326
75
18
5
216
12
351
78
31
8
228
6
378
76
26
3
257
16
377
83
17
4
265
8
442
75
26
25
283
33
469
87
25
28
336
-7
32
38
40
42
37
23
25
29
31
31
28
26
30
97
73
43
157
-58
65
-6
-19
4
5
5a
pecial adjustments, net 4 .
Of which: quarterly
allocation of annual seasonal adjustment
discrepancy.5
20
-82
-77
-4
(
-118
6
Equals: Merchandise exports adjusted to balance of payments basis,
including "military".
9,882
20,340
21,109
22,667
25,921
27,082
29,806
31,370
34,540
37,621
43,073
43,959
49,628
7
ess: Merchandise exports transferred under U.S. military agency
232
232
328
395
420
621
496
704
914
1,221
1,109
1,191
859
8
Equals: Merchandise exports, adjusted to balance of payments
basis, excluding "military" (table 2, line 2).
9,650
20,108
20,781
22,272
25,501
26,461
29,310
30,666
33,626
36,400
41,964
42,768
48,769
9
Merchandise imports, Census basis * (general imports)
5,071
14,759
16,462
17,205
18,749
21,428
25,618
26,889
33,226
36,043
39,952
45,563
55,555
259
68
176
15
332
108
211
13
406
168
221
17
437
242
162
33
655
386
221
48
850
424
358
68
sales contracts identified in Census documents.6
IMPORTS
Regular additions to Census imports
Virgin Islands imports from foreign countries
Gold imports, nonmonetary
.
Other regular additions 7 .. .
Regular deductions from Census imports
Automotive valuation adjustment
Other regular deductions 8
Special adjustments, net 4
.
.
Of which: quarterly
allocation of annual seasonal adjustment
discrepancy.5
85
13
56
16
95
12
67
16
116
21
80
15
116
22
79
15
144
27
100
17
188
44
130
14
213
43
155
15
5
5
8
8
7
5
84
5
77
8
66
8
67
7
55
19
17
2
99
78
75
3
-43
168
162
6
87
304
300
4
-14
357
354
3
-48
403
398
5
-19
561
557
4
-6
635
633
2
79
13
Equals; Merchandise imports, adjusted to balance of payments
basis, including "military."
15,235
14,926
16,636
17,380
18,941
21,696
25,710
27,067
33,240
36,044
39,967
45,651
55,849
14
Less; Merchandise imports
of U.S. military agencies identified in
8
477
389
376
332
241
186
217
201
249
237
179
185
168
15
Equals; Merchandise imports, adjusted to balance of payments
basis excluding "military" (table 2, line 16).
14,758
14,537
16,260
17,048
18,700
21,510
25,493
26,866
32,991
35,807
39,788
45,466
55,681
16
Balance on merchandise trade, adjusted to balance of payments
basis, including "military" (line 6 less line 13) (export surplus + ) .
4,647
5,414
4,473
5,287
6,980
5,386
4,096
4,303
1,300
1,577
3,106
-1,692
-6,221
17
Balance on merchandise trade, adjusted to balance of payments
basis, excluding "military" (line 8 less line 15) (export surplus + ) .
4,892
5,571
4,521
5,224
6,801
4,951
3,817
3,800
635
593
2,176
-2,698
-6,912
18
Merchandise exports, Census basis,' including military grant
shipments (line 1).
20,600
21,036
21,713
23,387
26,649
27,521
30,430
31,622
34,636
38,006
43,224
44,130
49,768
4,860
15, 740
14, 791
5,073
15,963
15,153
5,078
16,635
15,908
5,640
17, 747
16,827
6,412
20,237
19,419
6,300
21,221
20,442
6,955
23,475
22,535
6,448
25,174
24,582
6,301
28,335
27, 762
6,098
31,908
31,234
7,349
35,875
35,310
7,786
36,344
35,763
9,508
40,260
39,700
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
650
1,376
5,489
760
1,225
4,998
2,997
772
1,230
4,813
2,822
810
1,182
4,688
2,516
822
1,350
5,839
3,071
1,216
1,552
6,054
2,968
1,327
1,759
7,492
4, 058
1,508
1,926
7,924
841
7,705
801
7,132
832
7,822
1,000
9,185
962
8,917
984
9,613
1,020
9,971
1,150
11,00
1,081
11,776
1,220
13,782
1,70
12,691
1,700
13,982
1,708
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
594
1,070
495
383
1,949
1,868
666
1 03^
440
482
2,20
2,070
722
1,032
470
498
2,3i:
2,073
828
1,022
466
524
2,764
2,266
906
923
286
540
2,741
2,405
1,13
1,05
37
48
3,05
2,64
1,089
1,303
589
462
2,984
2,707
1,152
1,386
305
717
929
427
541
851
220
561
715
255
629
761
333
781
1,049
283
759
1,029
27
69*
1,173
324
702
1,156
27
74
1,50
371
1,127
1,543
54
1,388
1,76
263
953
1,230
281
5,511
4,284
730
3,555
947
469
1,474
205
223
23b
5,910
4,729
818
3,913
937
520
1,664
20
32
260
6,443
5,221
953
4,269
979
549
1,890
217
344
288
6,604
5,521
1,079
4,442
1,042
539
1,880
26
38
33
7,463
6,399
1,179
5,220
1,255
629
2,148
34
46
37
8,039
6,796
1,145
5,651
1,308
634
2,373
434
542
359
8,89
7,62
1,27
6,24
1,33
67
2,69
44
660
43
9,913
8,11
1,42
6,68
1,39
67
2,88
44
84
44
11,07
8,64
1,55
7,08
1,52
709
3,06
41
900
47
12,346
9,991
1,856
8,136
1,680
770
3,443
418
1,225
599
14,37
11,57
2,07
9,49
1,96
90
3,87
35
1,70
69
15,119
11,593
2,110
9,482
1,888
886
3,925
36
1,70
722
10
10a
10b
10c
11
lla
lib
12
Census documents.
BALANCE
TRADE BY E N D - U S E
18a
18b
18c
Agricultural products..
Nonagricultural products
Excluding military grant shipments
19
20
21
22
Foods, feeds, and beverages . . . .
23
24
Industrial supplies and materials 10
25
26
27
28
29
30
31
32
33
.
.
Grains and preparations
Soybeans
Other foods, feeds, and beverages
Fuels and lubricants u
...
. . . .. _.
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.)
Steelingmaking materials
.
Iron and steel productions
Other metals, primary and advanced, including advanced
3,303
1,295
steel io
34
35
36
37
38
39
40
41
42
43
Capital goods except automotive
Machinery, except consumer-type
Electrical and electronic, and parts and attachments
Nonelectrical, and parts and attachments
Construction machinery and nonfarm tractors and parts. .
Textile and other specialized-industry machinery and parts
Other industrial machinery and parts n.e.c
Agricultural machinery and farm tractors and parts
Business and office machines, computers, etc., and p a r t s . .
Scientific, professional, and service-industry e q u i p m e n t . . .
See footnotes at end of table.
16,670
13,134
10,593
2,131
963
4,315
485
1,838
861
SURVEY OF CURRENT BUSINESS
June 1973
37
Merchandise Trade
of dollars]
Seasonally adjusted
N o t seasonally adjusted
1972
1971
II
III
IV
11,246
11,561
11,079
10,244
11,116
11,406
10,924
103
17
4
8
64
10
135
20
12
10
74
19
95
18
4
5
69
-1
6
7
-14
-5
1973
1971
II
III
IV
I*
12,027
12,179
11,713
13,849
15,665
10,103
11,891
12,041
11,558
13.718
109
20
6
2
76
117
22
8
5
75
7
117
22
4
4
88
-1
121
20
7
10
82
2
114
23
6
9
91
-15
7
7
-28
21
5
7
1972
II
III
IV
11,215
11,205
11,881
9,886
11,903
15,534
11,085
11,050
11,726
9,745
137
20
12
8
90
7
107
17
4
8
68
10
130
20
12
10
69
19
97
18
4
5
71
-1
108
20
6
2
75
5
-25
-16
-14
-28
-14
-20
-15
1
-14
15
1973
Line
III
IV
11,812
12,584
13,482
15,552
11,767
11,674
12,429
13,351
15,421
121
22
8
5
79
7
112
22
4
4
83
-1
124
20
7
10
85
2
112
23
6
9
89
-15
140
20
12
8
93
7
7
7
-31
-3
18
-3
-10
-4
-25
5
5a
II
3
3a
3b
3c
3d
11,211
11,521
11,007
10,220
11,994
12,122
11,693
13,819
15,639
11,170
11,146
11,796
9,847
11,871
11,747
12,564
13,446
15,529
6
298
355
274
264
216
208
202
233
209
298
355
274
264
216
208
202
233
209
7
10,913
11,166
10,733
9,956
11,778
11,914
11,491
13,586
15,430
10,872
10,791
11,522
9,583
11,655
11,539
12,362
13,213
15,320
8
10,518
12,004
11,777
11,264
13,301
13,736
13,526
14,992
15,963
10,793
11,718
11,924
11,094
13,423
13,363
13,897
14,874
16,254
9
121
64
47
10
157
89
54
14
189
120
57
12
188
113
63
12
191
117
62
12
187
89
79
19
259
139
101
19
213
79
116
18
256
161
79
16
121
64
47
10
157
89
54
14
189
120
57
12
188
113
63
12
191
117
62
12
187
89
79
19
259
139
101
19
213
79
116
18
256
161
79
16
10
10a
10b
10c
138
137
1
12
157
155
2
6
110
109
1
-10
156
156
149
149
(*)
32
188
187
1
114
113
1
184
184
(*)
94
191
190
1
14
128
127
1
21
9
133
131
2
15
9
163
162
1
-1
9
137
137
(*)_
140
140
167
166
1
166
166
189
188
1
14
7
10,513
12,010
11,846
11,282
13,375
13,696
13,663
15,115
16,042
10,807
11,757
11,949
64
49
42
30
31
36
46
55
55
64
49
42
13,617
15,060
15,987
10,743
11,708
11,907
10,449
11,961
698
11,804
11,252
13,344
13,660
n
161
1
-39
32
(
\2
-2
12b
13,506
13,349
13,981
15,013
16,335
31
36
46
55
55
13,475
13,313
13,935
14,958
16,280
11,138
13
30
11,108
11
lla
11
12a
14
15
-839
-1,062
-1,381
-1,574
-1,970
-1,296
-403
363
-611
-153
-1,291
-1,635
-1,602
-1,417
-1,567
-806
464
-795
-1,071
-1,296
-1,566
-1,746
-2,126
-1,474
-557
129
-917
-385
-1,525
-1,820
-1,774
-1,573
-1,745
-960
17
11,246
11,561
11,079
10,244
12,027
12,179
11,713
13,849
15,665
11,215
11,205
11,881
9,886
11,903
11,812
12,584
13,482
15,552
18
2,047
9,199
9,003
1,890
9,671
9,516
1,895
9,184
9,029
1,955
8,289
8,148
2,178
9,849
9,713
2,107
10,072
9,934
2,099
9,614
9,459
3,125
10, 724
10, 593
3,759
11,906
11,775
2,074
9,141
9,011
1,953
9,252
9,097
2,147
9,734
9,579
1,664
8,223
8,082
2,199
9,704
9,568
2,178
9,634
9,496
2,387
10,197
10,042
2,694
10, 787
10,656
3,816
11, 737
11,606
18a
18b
18c
1,536
815
318
402
1,440
708
308
424
1,483
768
306
409
1,595
676
396
523
1,555
769
348
438
1,726
886
342
498
1,731
1,052
231
447
2,480
1,351
587
542
2,986
1,742
745
499
1,591
824
336
431
1,498
749
310
439
1,641
768
458
415
1,354
616
281
457
1,615
781
364
470
1,793
935
341
517
1,920
1,091
358
471
2,131
1,237
424
470
3,094
1,779
777
538
19
20
21
22
3,242
407
277
372
194
118
710
687
3,356
486
281
340
153
122
776
692
3,444
499
299
301
104
154
927
664
2,648
308
3,486
403
3,864
452
302
419
174
195
866
933
309
560
293
145
959
1,094
3,297
464
285
315
141
166
708
673
3,281
463
275
323
142
145
753
686
3,555
483
301
375
161
157
936
698
2,571
294
228
286
138
36
578
632
3,509
458
273
334
129
289
801
736
3,209
408
292
296
91
111
740
772
3,470
413
285
301
75
147
804
871
3,791
436
300
434
180
126
884
901
4,295
427
315
473
217
203
947
1,075
23
24
267
406
192
217
808
773
3,352
425
284
251
42
135
793
816
4,274
379
232
291
139
68
571
664
3,279
428
299
310
99
93
761
780
25
26
27
28
29
30
72
238
76
246
337
70
243
286
44
224
246
47
247
318
61
240
307
81
250
317
91
253
353
127
309
391
91
242
353
71
238
327
61
249
295
45
223
249
59
251
308
57
232
301
70
254
325
94
255
361
163
313
379
31
32
33
3,965
2,963
521
2,442
484
223
1,018
85
448
184
3,950
2,986
532
2,454
514
233
992
102
424
189
3,618
2,888
533
2,355
474
226
994
89
392
180
3,586
2,754
524
2,230
413
203
924
86
437
168
4,254
3,232
628
2,604
517
244
1,079
113
452
201
4,200
3,303
621
2,682
561
229
1,075
137
453
226
3,858
3,136
605
2,531
514
229
1,035
115
434
204
4,359
3,464
687
2,777
539
261
1,127
120
500
230
4,969
3,856
787
3,069
637
287
1,205
163
529
248
3,818
2,964
524
2,440
494
234
1,010
81
441
180
3,771
2,871
507
2,364
489
225
960
88
426
176
3,931
3,034
565
2,469
485
235
1,036
98
424
191
3,600
2,721
515
2,206
415
192
922
95
409
173
4,061
3,199
626
2,573
521
253
1,055
108
441
195
4,014
3,180
594
2,586
534
222
1,045
119
455
211
4,186
3,294
641
2,653
527
237
1,077
126
469
217
4,434
3,475
683
2,792
551
251
1,142
133
474
241
4,732
3,798
780
3,018
639
297
1,172
157
514
239
34
35
36
37
38
39
40
41
42
43
SUEVEY OF CURRENT BUSINESS
38
June 1973
Table 4.—U.S. Merchandise
[Millions
Line
1962
1960
1961
1963
1,052
537
175
973
339
209
1,043
323
179
919
248
163
1965
1966
1967
1968
1969
1970
1971
912
287
152
1,077
478
167
1,224
553
141
1,614
790
184
2,327
1,405
103
2,235
1,266
120
2,660
1,528
141
3,282
1,918
245
1964
TRADE BY END-USE—Continued
44
44a
45
Civilian aircraft, engines, parts
Civilian aircraft, complete, all types
Other transportation equipment
46
47
48
49
50
51
Automotive vehicles, parts, and engines
_
To Canada 12
To all other areas
Passenger cars, new and used..
Trucks, buses, and special vehicles
Parts, bodies, and accessories, including engines and parts, n.e.c.
1,266
400
866
243
391
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
336
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
1,075
982
432
2,038
3,888
2,736
1,152
1,023
531
2,334
3,652
2,474
1,178
837
560
2,255
4,396
3,210
1,186
1,183
601
2,612
52
53
54
55
Consumer goods (nonfood), except automotive
Consumer durables, manufactured
_
Consumer nondurables, manufactured
Unmanufactured consumer goods (gem stones, precious and
nonprecious)
_
_
1,396
562
826
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
2,111
825
1,222
65
2,334
890
1,344
99
2,576
1,020
1,429
128
2,719
1,009
1,587
123
2,847
1,086
1,629
133
56
Special category (military-type goods)
840
826
971
1,025
951
1,229
1,249
1,103
1,110
1,645
1,359
1,490
57
58
59
Exports, n.e.c, and reexports.
Domestic (low-value,3 miscellaneous)
Foreign (reexports) 1
493
583
314
269
629
344
285
723
370
352
337
343
798
363
743
359
384
851
414
437
1,087
543
544
1,503
869
634
1,533
895
200
549
305
245
15,071
14,759
16,453
17,205
18,749
21,520
25,618
26,889
33,226
36,043
39,952
45,563
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
1,7C1
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
6,154
2,085
1,159
725
4,069
6,366
2,111
1,167
764
4,255
8,251
1,944
1,543
7,990
2,003
1,674
8,825
2,158
1,810
9,064
2,121
1,824
9,674
2,126
1,904
11,082
2,270
2,095
12,204
2,289
2,124
11,862
2,245
2,083
14,159
2,514
2,339
14,160
2,800
2,556
15,106
3,085
2,760
16,965
3,762
3,318
1,098
1,728
1,093
1,718
1,144
1,923
1,130
2,032
1,227
2,084
1,301
2,368
1,440
2,644
1,386
2,371
1,431
2,749
1,595
2,658
1,578
2,866
1,651
3,153
847
117
278
486
817
134
304
463
973
107
329
513
1,043
113
326
550
1,009
142
363
570
1,162
122
445
1,243
137
573
691
1,015
162
584
610
1,180
148
689
732
1,142
117
709
1,209
111
836
710
1,411
89
955
705
722
784
754
1,072
1,187
1,001
1,334
3,533
602
825
1,463
4,421
679
1,272
1,808
5,047
758
1,312
2,229
5,106
681
1,422
2,259
6,393
668
2,123
2,734
5,920
626
1,914
2,360
6,576
706
2,191
2,650
7,065
714
2,871
2,406
60
61
62
63
64
67
67a
70
71
72
73
Merchandise imports, Census basis 1 (line 9)
Foods, feeds, and beverages
Coffee, cocoa, and sugar..
Green coffee
_
Cane sugar
Other foods, feeds, and beverages
Industrial supplies and umaterials w
Fuels and lubricants w
Petroleum and products..
_
_
Paper and paper base stocks
Materials associated with nondurable goods and farm output,
n.e.s.
Textile supplies and materials
Tobacco, unmanufactured
Chemicals, excluding medicinals
Other (hides, copra, materials for making photos, drugs, dyes).
74
Building materials, except metals
540
537
615
75
76
77
78
Materials associated with durable goods output, n.e.s.10__
Steelmaking materials
Iron and steel products
Other metals, primary and advanced, including advanced
steel.
Nonmetals (gums, oils, resins, minerals, rubber, tires, etc.)-..
2,941
524
508
1,197
2,639
443
421
1,166
2,985
502
537
1,324
3,121
494
692
1,347
713
609
621
588
642
661
749
744
1,020
1,030
1,074
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 nonfarxn tractors 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 and
parts; and miscellaneous transportation equipment.
Civilian aircraft, engines, parts
Civilian aircraft, complete, all types
562
535
123
413
83
693
572
136
436
758
681
168
512
120
823
798
181
618
133
1,039
1,020
203
817
190
1,490
1,389
301
1,087
247
2,163
1,950
477
1,474
341
2,412
2,282
535
1,747
378
2,819
2,631
682
1,949
460
3,244
3,067
817
2,250
502
3,814
3,623
1,017
2,606
566
4,127
3,900
1,157
2,742
692
114
135
58
22
126
115
73
24
144
152
62
33
177
179
77
52
244
191
84
108
368
247
110
116
513
329
151
139
352
183
154
750
337
225
178
849
347
971
359
471
239
916
364
531
239
27
2
121
74
78
40
25
1
20
2
102
67
212
153
129
59
188
109
177
110
Automotive vehicles,
parts, and engines u
From Canada 14_
_
From Canada, transactions value
From allother areas
Passenger cars, new and used
_
Trucks, buses, and special vehicles
Parts, bodies, and accessories, including engines and parts, n.e.s...
633
11
11
622
544
30
60
383
521
375
318
13
52
512
433
17
71
586
29
29
557
467
767
102
102
665
593
24
151
907
214
197
693
670
44
193
1,883
889
814
994
1,244
174
465
2,604
1,569
1,407
1,035
1,701
301
602
4,256
2,579
2,279
1,677
2,796
479
981
5,288
3,436
3,082
1,853
3,355
705
1,228
5,894
3,525
8,127
2,369
3,710
720
1,464
7,917
4,532
3,975
3,385
5,091
835
1,991
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
5,375
2,799
2,009
567
6,616
3,535
2,480
601
7,553
4,068
2,960
525
8,561
4,682
3,315
563
438
473
500
591
660
791
959
1,212
1,346
1,471
1,400
1,627
79
80
81
82
83
84
85
86
87
89a
90
91
92
93
94
95
96
97
98
99
100
Consumer goods (nonfood), except automotive. _
Consumer durables, manufactured
Consumer nondurables, manufactured
Unmanufactured consumer goods (gems, nursery stock)
101
Imports, n.e.s. (low
movies, exhibits).
value, goods returned, military aircraft,
p Preliminary.
* Less than $500,000.
1. The figures shown for exports and imports 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 include trade in silver ore and bullion. To achieve comparability over time,
all pre-1968 data shown in this table have been adjusted to include silver transactions
Imports Only: (a) 1962 imports as shown do not include an upward revision of $10 million
which is in the revised 1062 import total published by the Census Bureau, because supporting
commodity detail was not available. This amount is included instead in the balance of
payments adjustment shown in line 12, and is in total merchandise imports, balance of payments basis, lines 13 and 15. (b)1965 imports as shown here are $92 million higher than imports
as recorded in Census Bureau published statistics. The adjustment, which corrects for large
irregularities and some omissions in the monthly receipt of documents by Census during the
last 6 months of 1965, has been distributed in the accompanying commodity detail, lines 61-
227
40
2. Mainly net additions to or liquidations of U.S.-owned grains in storage in Canada, and
exports of electrical energy.
3. Mainly exports of exposed motion picture film for rental rather than sale, and exports
to Panama Canal Zone. Prior to 1966, also includes transfers of goods procured offshore under
nonmilitary aid programs.
4. Irregular and occasional 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.
5. Correction for discrepancy between sum of four quarters, seasonally adjusted, and the
unadjusted recorded annual totals.
6. Exports of military equipment under U.S. military agency sales contracts with foreign
governments to the extent such exports are identifiable from Census export documents.
These exports are included in table 2: line 3: "Transfers under U.S. military agency sales
contracts."
SURVEY OF CURRENT BUSINESS
June 1973
39
Trader—Continued
of dollars]
Seasonally adjusted
Not seasonally adjusted
1972
1971
II
I
I
IV
III
II
1973
III
I
IV
962
626
41
899
552
65
646
305
83
776
436
56
956
584
66
822
452
76
631
269
91
808
402
87
1,031
1,099
1,220
1,008
1,070
1,211
918
302
353
164
702
695
313
249
156
603
816
254
292
131
647
903
308
287
157
768
1,334
1,051
1,147
782
317
290
149
660
1,432
1,077
1,569
1,195
355
418
199
815
374
429
214
926
673
248
393
32
724
269
420
35
797
288
478
30
653
280
337
36
935
397
484
54
1,032
362
445
362
368
214
154
426
242
184
367
221
147
10,518
12,004
1,470
1,692
499
293
147
971
1972
1971
II
III
I
IV
II
1973
IV
III
IP
808
475
46
841
498
59
808
452
89
828
493
51
789
435
73
764
401
70
796
407
96
878
463
81
843
460
91
1,093
1,107
1,183
1,027
1,194
1,208
777
316
281
150
662
812
295
323
149
635
840
343
329
167
687
789
238
257
135
635
891
303
279
156
759
929
279
311
159
738
1,336
1,041
1,407
1,068
1,551
1,182
295
358
166
812
339
381
208
818
369
420
214
917
677
249
398
30
699
261
405
33
823
306
483
34
648
270
343
35
830
338
454
38
835
352
438
45
891
368
473
50
939
387
500
52
1,032
429
528
75
624
83
283
344
174
816
875
272
274
156
718
831
339
452
40
863
362
454
46
863
348
470
44
321
286
311
310
291
330
362
445
362
321
286
311
310
372
219
154
1402
237
165
466
252
214
452
253
198
487
266
221
506
270
236
377
215
162
404
235
169
386
231
155
366
216
150
408
236
172
442
245
197
471
263
208
11,777
11,264
13,301
13,736
13,526
14,992
15,963
10,793
11,718
11,924
11,094
13.423
13,363
1,893
1,312
1,764
1,730
1,802
1,961
2,030
1,546
1,684
1,878
1,260
1,818
1,719
561
308
210
687
397
248
565
309
205
496
235
220
564
321
221
532
316
177
658
396
193
525
293
187
571
329
195
637
375
213
585
299
250
506
255
206
1,131
1,207
366
169
159
946
Line
44
44a
45
46
47
48
49
50
51
430
530
72
52
53
54
55
291
330
56
488
269
219
519
269
250
57
58
59
13,897
14,874
16,254
60
1,823
1,897
2,108
527
308
193
542
314
188
1,199
1,234
1,239
1,429
1,372
1,021
1,113
1,241
368
164
164
892
1,233
1,213
1,296
1,355
1,421
61
62
63
64
65
4,980
1,125
5,521
1,329
1,175
5,993
1,655
1,493
4,422
940
818
4,098
1,048
4,830
1,106
900
939
965
4,873
1,196
1,038
5,096
1,267
1,122
5,520
772
668
4,454
1,004
976
5,032
1,208
1,073
3,944
938
4,790
1,220
1,071
1,171
6,111
1,517
1,359
66
67
67a
526
4,119
1,058
687
397
237
3,853
4,512
4,480
850
739
881
766
973
875
385
803
434
875
403
826
429
650
421
984
443
932
427
862
465
928
1,060
394
756
431
834
410
869
410
684
428
922
438
880
444
922
443
990
1,002
68
69
343
34
242
183
383
31
269
193
373
18
269
166
313
6
174
156
403
53
290
237
373
45
292
222
381
19
266
195
382
40
282
223
426
57
321
256
326
21
231
178
370
24
249
191
376
33
285
175
334
11
187
152
384
32
275
231
359
35
268
218
392
35
286
209
407
62
304
217
409
35
306
252
70
71
72
73
74
i, 3ir
539
261
345
382
345
419
480
509
550
606
280
325
361
358
449
451
488
572
657
1,556
1,976
1,896
1,638
1,747
2,000
2,026
2,249
2,146
1,742
1,892
1,810
1,598
1,925
1,908
1,975
2,204
2,396
120
605
577
221
804
662
220
773
625
153
688
542
117
586
705
186
717
778
227
838
657
228
928
770
195
705
586
206
781
624
176
713
641
141
658
545
188
681
716
173
694
732
186
791
684
213
898
773
148
738
880
. 75
241 76
866 77
902 78
253
289
278
255
338
318
305
323
381
256
281
280
254
340
309
314
320
387
79
1,010
1,098
1,033
1,043
1,371
1,282
1,397
1,287
1,322
1,224
1,483
1,342
1,696
1,548
1,055
1,070
1,006
1,338
1,228
1,384
1,286
1,525
1,385
1,661
1,513
384
903
229
400
824
215
444
898
223
1,036
240
292
714
190
999
959
302
657
169
1,331
1,243
360
923
240
996
938
267
671
156
360
883
232
371
857
225
411
875
217
448
937
233
516
997
233
80
81
82
83
84
302
730
178
979
289
690
193
976
936
302
634
161
240
106
126
57
259
102
131
61
225
87
126
59
194
70
148
61
282
133
189
78
283
139
171
80
275
109
139
85
303
117
163
92
349
153
195
99
238
92
126
59
244
89
126
60
230
99
136
59
202
84
143
59
273
113
185
80
269
121
163
79
289
127
155
87
316
142
157
89
338
131
193
102
85
86
87
88
58
13
66
13
64
8
40
6
88
16
110
13
98
14
140
15
148
21
58
13
66
13
64
8
40
6
88
16
110
13
98
14
140
15
148
21
89
89a
1,894
1,094
2,080
1,213
1,058
1,793
2,151
1,283
1,127
2,508
1,467
1,280
1,041
1,582
1,899
2,765
1,561
1,371
1,204
1,721
1,829
1,076
1,923
1,096
949
753
965
827
2,123
1,204
1,042
2,069
1,171
1,034
2,224
1,248
1,108
2,308
1,318
1,157
2,494
1,392
1,226
1,102
1,555
2,659
1,532
1,344
1,127
1,607
952
264
688
159
512
989
295
694
175
90
91
92
93
94
95
96
867
942
833
851
898
976
990
1,380
1,141
1,330
1,074
2,562
1,504
1,320
1,058
1,545
919
1,241
2,339
1,286
1,137
1,053
1,510
1,172
1,229
1,409
1,321
1,399
1,393
2,281
1,275
1,109
1,006
1,360
170
482
198
501
196
455
270
552
225
604
302
624
268
555
334
684
291
754
186
471
208
486
211
503
223
525
244
581
314
601
294
627
279
660
319
733
1,891
1,000
2,205
1,222
2,167
1,114
2,298
1,347
2,636
1,471
2,700
1,571
2,274
1,296
989
176
945
185
846
148
807
144
844
134
2,804
1,582
1,041
2,704
1,564
809
142
2,984
1,623
1,126
2,007
1,056
913
140
2,982
1,735
1,035
2,217
1,223
832
151
3,036
1,693
1,154
2,054
1,100
761
131
2,879
1,641
1,041
2,966
1,679
1,086
3,199
1,760
1,195
197
201
244
97
98
99
100
400
417
401
409
402
421
417
392
394
434
472
516
101
957
800
868
984
871
915
189
212
235
816
138
435
484
495
424
7. Mainly imports of electrical energy.
8. Mainly foreign charges for repair of U.S. vessels abroad, which are included in tables
2,3, and 9, line 20 (Other transportation); also imports from Panama Canal Zone, and imports
of domestically owned grains returned from storage in Canada.
9. Merchandise imported directly by the Department of Defense, as well as "defense"
imports of the Coast Guard and Atomic Energy Commission, to the extent such imports are
identifiable from Census import documents and verifiable from separate reports of the importing agencies. These imports are included in tables 2, 3, and 9, line 17: "Direct defense
expenditures."
10. Includes exports and imports of silver ore and bullion for all years (see footnote 1 reference
to treatment of silver in Census statistics).
11. Includes nuclear fuel materials and fuels, formerly in exports of "other metals" —(1.33)
and imports of "steelmaking materials"—(1.76) and of "imports n.e.s." (1.101).
12. The statistical identification of automotive products exports to Canada (line 47) is not
as complete and comprehensive as the identification of automotive products imports from
181
958
182
416
421
Canada, which are more definitively classified for duty-free status under the United StatesCanada Automotive Products Trade Act. The less comprehensive identification in U.S.
trade statistics of automotive parts exports to Canada results in an undercounting of such
exports (line 47) which—estimated from examination of Canada's import statistics—amounted to about $450 million annually in the 3 years 1970-72.
13. Starting in 1973, line 59 excludes reexports, and line 67 excludes imports of natural gas
in transit through the United States from western to eastern Canada.
14. Includes downward revisions in the Census/Customs value of automotive imports
from Canada which have not yet been incorporated in the Census Bureau's published import
statistics as shown in line 60, above. These revisions, annually, are valued as follows: 1970
-$31 million; 1969, -$26 million.
NOTE.—Details may not add to totals because of rounding.
Source: U.S. Department of Commerce, Bureau of Economic Analysis.
SUEVEY OF CURRENT BUSINESS
40
June 1973
Table 5.—Major U.S. Government Transactions
[Millions of dollars]
Line
1970
1971
1971
1972
II
A. 1
la
1972
III
II
IV
1973
III
IV
U.S. Government grants (excluding military) and capital flows increasing Government assets, total
(table 2, lines 30, 34, and 35, with sign reversed).
5,036 6,041 5,808 1,644 1,741 1,227 1,429 1,398 1,518 1,348 1,545
Seasonally adjusted
1,586 1,690 1,411 1,456 1,889 1,866 1,584 1,569
By category
10
11
12
13
14
15
16
Grants, net
1,734 2,045 2,174
524
465
503
Credits repayable in foreign currencies
199
156
24
80
90
19
Other foreign currency assets (excluding administrative cash holdings), net..
- 3 1 -182 -141 - 8 4 - 5 0
2
Receipts from—
164
Sales of agricultural commodities
287
75
39
63
26
181
Interest
188
185
40
55
38
157
Repayments of principal
152
252
35
43
34
Reverse grants
_
1
1
1
(*)
Other sources
_
13
Less disbursements for—
264
181
246
44
102
19
Grants in the recipient's currency
128
53
149
84
15
14
Credits in the recipient's currency
8
9
8
2
3
1
Other grants and credits
.
_
_
329
310
340
95
64
Other U.S. Government expenditures
_
.
70
49
99
Capital subscriptions and contributions to international and regional organizations, excluding IMF _ 234 246 271
35
612
Credits repayable in U.S. dollars
2,788 3,772 3,436 1,134 1,219
4 -11
-25
Other assets (including changes in administrative cash holdings), net
113
17
18
19
20
21
22
23
24
25
1,164 1,151 1,206
Under farm product disposal programs
Under Foreign Assistance Acts and related programs
2,083 2,626 2,233
Under Export-Import Bank Act
_
1,091 1 , • • - 1,299
Capital subscriptions and contributions to international and regional organizations, excluding IMF 234 246 271
722
Other assistance programs
330 '556
450
346
Other foreign currency assets acquired (lines A.6, A.7, and A.9)
347
340
310
Less foreign currencies used by U.S. Government other than for grants or credits (line A.13)
329
Advances under Exchange Stabilization Fund agreements, net
Other (including changes in administrative cash holdings), net
116
-32
553
23
-50
605
20
-36
47
45
42
47
48
536
11
42
42
1
55
114
C)
(*)
435
35
-57
(*)
81
16
2
81
64
807
33
79
15
5
78
44
836
-72
9
11
2
82
69
850
-32
57
6
1
94
48
754
66
120
21
2
86
110
996
27
249
560
320
64
193
94
81
264
61:
396
44
134
97
78
43'
623
311
69
110
92
82
208
564
265
48
215
89
94
297
434
327
110
263
171
86
32
-72
-40
52
28
By program
736
481
35
142
76
70
429
762
384
49
135
101
95
234
568
238
99
87
75
64
-25
-9
By disposition'
26
27
28
29
30
31
32
34
35
Estimated transactions involving no direct dollar outflow from the United States
4,320
Expenditures on U.S. merchandise
3,089
Expenditures on U.S. services 2
828
Military sales contractsfinancedby U.S. Government credits 3-4 (line
B.14)
361
2
U.S. Government credits to repay prior U.S. Government credits
165
U.S. Government credits 3 to repay prior U.S. private credits
310
Increase in claims on U.S. Government associated with Government grants and capital flows
increasing Government assets (including changes in retained accounts) (line B.17)
-30
Less foreign currencies used by U.S. Government other than for grants or credits (line A.13) —
329
Less dollar recoveries on short-term claims
financing
military
sales
contracts
and
U.S.
Government credits to repay private credits 3
74
Estimated dollar payments to foreign countries and international and regional organizations
through U.S. Government grants and capitalflowsincreasing Government assets
5,124 4,71
3,170 2,907
933
878
60:
502
396
28^
432
580
26
310
132
918
71"
B. 1
la
2
2a
3
4
9
10
10a
11
lla
12
13
14
15
16
17
17a
18
19
20
21
21a
22
23
24
25
Nonliquid liabilities reported by U.S. Government, including medium-term securities a n d long-term
obligations payable prior to m a t u r i t y only under special conditions, net increase ( + )
102
Seasonally adjusted
_
To foreign official reserve agencies (table 2, line 57)
535
Seasonally adjusted
U.S. Treasury securities issued in connection with Columbia River downstream rights
-30
U.S. Treasury securities issued in connection with prepayments for military purchases in the
United States (line B . 13)
-111
32
U.S. Treasury obligations to be liquidated against U.S. claims
U.S. Treasury securities not included elsewhere «
648
Export-Import B a n k obligations to be liquidated against U.S. claims
Export-Import B a n k securities not included elsewhereC)
Other.
-433
To other official and private foreigners (table 2, line 48)
Seasonally adjusted
_
_
_
Associated with military sales contracts 6
-468
Seasonally adjusted
_
_
U.S. Government receipts from foreign governments (including principal repayments on
credits financing military sales contracts), net of refunds
860
Less U.S. Treasury securities issued i n connection with prepayments for military purchases
1
11
in t h e United States (line B . 4)
361
Plus military sales contracts financed b y U.S. Government credits 3-7 (line A. 29)
322
Less U.S. G o v e r n m e n t receipts from principal r e p a y m e n t s 3
__
Less transfers of goods and services (including transfers financed b y credits) (table 2, line 3 ) . . . 1,478
Associated w i t h U . S . G o v e r n m e n t grants a n d capital flows increasing Government assets *
(line A . 32)
-30
Seasonally adjusted..
Non-interest-bearing securities issued to IDA, to IDB, or to U.N. for special programs.
Foreign funds retained in U.S. Government accounts for purchases in the United States
Other
Other.
Seasonally adjusted
German Government 10-year loan to U.S. Government_
Associated with U.S. Government nonmilitary sales and miscellaneous operations..
U.S. Treasury securities not included elsewhere«
_
Export-Import Bank securities not included elsewhere --
p Preliminary.
*Less t h a n $500,000 ( ± ) .
1. T h e identification of transactions involving direct dollar outflow from the United States
is m a d e in reports b y each operating agency. However, such data for fourth quarter 1972 and
first quarter 1973 are only extrapolated estimates b y B E A , because of incomplete reports
from one operating agency, a n d are to be revised in future issues of the SURVEY.
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 a n d A.7.
3. Lines A.29 and A.31 include some short-term U.S. Government claims, collections of which
are recorded in line A.34. Collections of those short-term claims recorded in lines A.29 and
B.14 are included in line B.I5.
4. Consists of transfers of military goods and services financed b y U.S. Government credits
and of advance p a y m e n t s to t h e Defense D e p a r t m e n t (on military sales contracts) financed
b y credits extended to foreigners b y U . S . Government agencies.
31
340
6
70
134
1,091
-127
427
341
189
-5
95
52
165
-72
-78
-2
943 1,140 1,186 1,280 1,034 1,217
842
688
544
653
832
654
220
209
217
281
233
208
164
139
124
45
75
68
141
51
90
49
48
43
154
197
148
140
89
59
180
-IS
-4
-8
13
64
25
81
78
25
20
73
13
11
37
283
289
212
237
314
328
-207
-220
227
179
350
188
201
280
280
98
181
229 - 8 8
247 -152
78 - 1 6 5
78 -167
-9
-24
see
94
-24
-1
375
C)
—4
197
-46:
238
-597
"352
1,046 1,390
607
502
340
375
1,912 1,166
375
(*)
-70 -70
-5
-65
- 7 2 -176
-67
204
246
46
475
-204 - 1 2 4 - 9 2
-79
-211 -187
-201 - 1 4 8 - 1 0 3
-90
-208
-165
102
138
92
128
151
169
146
164
77
15
216
15,
270
214
358
237
37
325
455
249
118
57'
-1
68
55
429
45
120
75
103
311
164
118
327
124
75
228
139
79
299
13
13
10
3
-31
—o
—3
(*)
-148
-5
5
(*)
-4
/
100
C)
-151
80
282
-2
26
26
37
1
(*)
103 - 1 5 1
75
-10
(*)
(*)
1,479 1,561
811 1,053
24"
202
249
246
48
216
121
105
-4
1
C)
(*)_
111
-4
111
100
-5
6
6
25
(*)
-148
-3
1
-3
-151
5. Includes securities payable in U.S. dollars and in convertible foreign currencies.
6. Transactions under military sales contracts are those in which the Defense Department
sells and transfers military goods and services to a foreign purchaser, 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.
7. Consists of transfers of military goods and servicesfinancedby U.S. Government credits
(included in line B.16) and of increases in Defense Department liabilities (on military sales
contracts) which arise from advance payments to the Defense Departmentfinancedby credits
to foreigners by U.S. Government.
8. Excludes liabilities associated with military sales contractsfinancedby U.S. Government
credits and included in line B.ll.
NOTE.—Details may not add to totals because of rounding.
Source: U.S. Department of Commerce, Bureau of Economic Analysis.
SURVEY OF CURRENT BUSINESS
June 1973
41
Table 6.—Direct Investments and Securities Transactions
[Millions of dollars]
(Credits + ; debits - )
1970
U.S. direct investments abroad (table 2, line 39).
Transactions with foreign incorporated affiliates.
Intercompany accounts: short-term
long-term
_.
Capital stock and other equity, net
...
Increase *
_
Decrease 2
_
Miscellaneous3
_
Branch accounts
By industry of foreign affiliate: *
Mining and smelting
Petroleum
Manufacturing
Other...
Foreign direct investments in the United States (table 2, line 49).
Transactions with U.S. incorporated affiliates.
Intercompany accounts
Capital stock and other equity, net
Increase *
Decrease 2
Branch accounts
Of which: manufacturing affiliates: *.
1971
-1,703
-1,335
-320
-1,692
-1,058
-256
-2,539
•1,398
-662
-484
-231
-327
95
-21
1,127
-718
-108
-300
-350
50
-1
•1, 210
-470
-221
-507
-538
31
-11
-162
609
216
-960
•1,164
204
-27
•1,437
-900
-232
-273
-361
109
648
-210
-334
-432
-780
-550
214
-423
-525
102
-20
-54
586
209
-843
-1,030
187
-7
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
-906
-1,045
-1,242
-187
-576
-125
-158
-255
-507
-279
-202
n.a.
-893
•1,460
•1,295
•1,262
-510
•1,950
•1,556
-927
-411
-1,635
-1,028
-331
-85
-563
-620
-327
-112
-821
-395
-73
-480
-409
-373
-163
-599
-581
-350
114
163
-153
S3
-381
-511
-74
-4*
-1SS
I48
-491
217
60
n.a.
n.a.
n.a.
n.a.
1,030
-115
160
124
-436
232
255
-139
206
302
-97
126
85
41
46
-5
94
-1
567
256
ISO
-27
-14
-11
-13
132
12
-119
412
-48
-27
460
155
331
-49
23
-9SS
-59
-935
-15
-19
-939
-1, 548
-781
-32
-359
-376
480
129
125
•1,020
35
29
-1,026
-1,615
-897
-102
-342
-274
557
32
-121
stocks, net, Treasury basis
plus: exchange of stock associated with U.S. direct investment abroad...
plus: other adjustments
Stocks, net, balance of payments basis
Canada
Western Europe
Other
bonds, net, Treasury basis 5
plus: proceeds obtained by U.S. parents
from securities issued by Netherlands Antilles finance subsidiaries 8
plus: other adjustments
Bonds, net, balance of payments basis
New issues sold abroad by U.S. corporations 8
of which, denominated in: Dollars
C onvertibles
Straight debt
Investments by International and Regional organizations in nonguaranteed bonds of U.S. federally sponsored agencies.
Other transactions in U.S. bonds
-874
-1,311
-760
-117
-193
-241
434
3
-55
47
19
2,190
628
79
—5
697
-8
554
151
-614
-7
-5
-2
16
-18
-425
184
-361
183
178
160
247
-447
-591
143
143
(*)
125
75
50
50
(*)
-391
-438
47
54
-7
161
130
31
33
-2
140
96
44
132
-88
156
72
84
84
(*)
232
67
165
165
30
22
37
4
15
26
21
20
U
68
-437
-346
22
87
75
-356
-377
-305
71
2
-11
-120
-10
146
-S
-1
77
(*)
-74
-109
46
76
-11
-74
28
-47
-52
-101
57
-26
-133
1
149
-3
-3
152
28
56
90
-22
55
-15
99
-20
87
32
112
-78
-476
7
-405
17
131
8
-78
-221
-145
-422
-489
115
28
40
21
-6
-27
-483
-604
-199
-22
-116
-267
142
-21
-22
-4
-2
7
-297
-15
-5
7
-3
-267
-19
-312
-431
-153
-7
-107
-164
116
3
23
-28
7
1
209
-10
-IS
81
-23
-18
104
72
86
-63
-40
47
206
-8
151
-15
209
-5
-1
214
66
34
102
12
166
-4
170
-13
87
-270
-119
128
-69
-25
-249
-453
-37
-7
160
37
-5
31
7
-117
-119
-277
-138
-61
-75
-3
124
34
4
44
12
-26
1,768
-6
11
-24
-282
-460
-181
-5
-62
-212
122
56
15
25
-1
17
2,269
4,335
559
196
606
908
1,058
956
553
2,140
186
-58
2,268
-77
2,037
72
-6
230
697
165
-57
646
104
165
-41
130
76
880
1
-58
323
1
318
4
1,087
20
943
124
1,288
85
1,053
150
503
570
211
541
1,294
1
731
94
7 11
836
-83
722
197
1,493
822
611
78
533
758
-9
1,433
1,161
933
200
733
324
347
233
655
»
349
2,067
2,003
1,598
961
637
132
481
317
290
50
240
145
-81
128
36
-418
-267
-436
-302
-20
-114
127
42
47
-19
-6
20
-32
-77
105
-38
-7
-34
150
54
-49
93
11
-1
-3
-35
-15
47
230
175
58
435
85
7
U
531
-29
507
53
-1
219
117
200
157
199
263
200
20
180
376
225
177
55
122
377
356
266
75
191
365
296
255
35
220
9-38
791
766
670
449
221
9 -77
230
372
268
222
46
200
9-60
681
569
405
255
150
-49
-15
27
124
-67
18
51
155
-130
-35
-107
7
105
3
78
-16
55
39
1,825
p Preliminary.
"Less than $500,000 (±).
n.a. Not available.
1. Acquisition of capital stock of existing and newly established companies, capitalization
of intercompany accounts, and other equity contributions.
2. Sales and liquidations of capital stock and other equity holdings, total, and partial.
3. Includes security issues placed with outside interests in the United States, the amortization of these security issues, and verified transactions of nonreporters not classified by type
of transaction.
4. Mining and smelting includes the exploration and development of mining properties,
the extraction of raw ores and the processing necessary for basic refined metals. Petroleum
includes the exploration, development and production of crude oil and gas, and the transportation, refining and marketing of petroleum products exclusive of petrochemicals. Manufacturing excludes petroleum refining and the smelting operations of mining companies.
"Other" industries includes all industries except those previously listed, the major ones
being agriculture, public utilities, transportation, trade, insurance,financeand services.
-875
994
206
788
796
-68
-145
-15
77
108
-20
12
-23
5
IV
-1,585
410
-16
-IS
U.S. securities, excluding Treasury issues, net foreign purchases (+), balance
of payments basis (table 2, line 50, or lines 54+61 below)
III
2,162
-216
-18
•1,873
•2,348
475
-55
-57
-29
-
II
-3,404
-966
...
IV
•3,898
•1, 241
-597
-1,999
-2,379
380
-60
38
-67
-173
Bonds, net, balance of payments basis
Newly issued in the United States
Canada
Latin America
Other countries
International
Redemptions of U.S. held foreign bonds 6.
Other transactions in outstanding bonds 6
Canada
Western Europe
Japan
Other
III
-4,943
-942
..-.
II
1973
•3,504
-691
-278
•2,339
•2,666
327
-196
stocks, net, Treasury basis 5
_
less: recorded in line 1 above as U.S. direct investment abroad
plus: exchange of stock associated with direct investment in United States.
plus: other adjustments
bonds, net, Treasury basis 8
less: recorded in line 1 above as U.S. direct investment abroad..
plus: other adjustments
_
1972
-4,410
Foreign securities, net U.S. purchases (—) balance of payments basis (table 2,
line 40 or lines 27 + 38 below)
Stocks, net, balance of payments basis
Newly issued in the United States
of which: Canada
Other foreign stocks
Canada
Western Europe
Japan
Other
1971
1972
259
1,738
1,288
B
124
-968
450
384
300
156
144
-8
74
5. As published in Treasury Bulletin. Treasury data are based on transactions by foreigners
reported by banks and brokers in the United States; net purchases by foreigners (+) correspond to net U.S. sales (+).
6. Redemptions measure scheduled retirements and identifiable premature retirements of
U.S. held foreign debt securities. Unidentifiable nonscheduled retirements appear in line 45.
7. Includes proceeds from new issues of stock sold abroad by U.S. corporations.
8. Securities newly issued byfinancesubsidiaries incorporated in the Netherlands Antilles
are included to the extent that the proceeds are transferred to U.S. parent companies.
9. Mainly reflects exclusion of investments by foreign official reserve agencies in debt
securities of U.S. Government corporations and agencies, private corporations, and State
and local governments. These investments are included in table 2, line 56.
NOTE.—Details may not add to totals because of rounding.
Source: U.S. Department of Commerce, Bureau of Economic Analysis.
SURVEY OF CURRENT BUSINESS
42
June 1973
Table 7.—Claims on Foreigners and Nonliquid Liabilities to Private Foreigners Reported by U.S. Banks and Nonbanking Concerns
[Millions of dollars]
1971
Line
(Credits (+); increase in U.S. liabilities or decrease in U.S. assets.
Debits (—); decrease in U.S. liabilities or increase in U.S. assets.)
1970
1971
1972
1973
1972
I
II
III
IV
I
II
III
IV
I*
Amount
outstanding
March
31, 1973
A. Claims reported by U.S. banks:
1
Long-term (table 2, line 41)
2
Short-term nonliauid Ctable 2 line 42)
3
4
5
Payable in dollars
By type:
Loans
-
11
12
AcceDtance credits
Collections outstanding
By area:
Canada
- Western EuroDe
Japan .
Other
Payable in foreign currencies
Of which Canada
13
Short-term liquid (table 2 line 43)
Q
7
8
9
10
.
...
-
14
15
Payable in dollars
16
Payable in foreign currencies
. - By type:
Deposits
-Foreign government obligations and commercial and
finance paper
By area:
Canada
Other
17
18
19
20
-
. . .
-
. -
Of which C a n a d a
155
-612
-1,269
15
-153
-247
-227
-189
-346
-1,023
-1,802
-1,495
111
-377
-481
-1,055
-324
183
-931
-353
-381
-294
5 21(
51 - 1 , 4 0 5
-1,495
13,861
53 - 1 , 3 5 0
-1,512
13 69'
-825
-259
-428
6 53'
3,46C
3 69
12
—5
-201
-242
-602 -1,017
-501
-306
74'
2 03
4,68
6 24,
-1,794
-1,486
42
-385
-482
-969
-359
170
227 - 1 , 4 5 1
-258
-783
-85
-375
-1,742
1,050
-794
51
-64
55
-400
59
-44
-430
-59
7
-672
-194
-103
-202
-156
-1
-584
927
-173
-231
516
-232
-51
2
-468
-414
-92
-517
-359
-826
-276
-509
366
-1,067
-46
-251
403
-64
-37
-215
-34
-99
39
162
-404
-279
-48
-213
-324
-384
-151
-276
276
-208
-138
82
486
-260
18
-73
206
-98
-92
-83
-8
-8
-9
17
69
61
8
16
1
-5
-86
-80
35
13
16
-2
-99
-566
-742
22
-341
-245
-97
-37
-342
-321
-799
-39
11
35
31
16
-250
-132
-134
-240
-2
19
-453
301
1
-422
-- 31 14 25
147
193
- 3- 76 97
-725
-237
-388
-55
-19
17
-13
16
9
-168
-1,107
4,24
-265
10
-985
-521
3,46,
1,26
78
-2
-224
57
-13
-9
-91
-111
-141
154
-53
97
-122
1
-197
107
-3
-10
-88
-96
-31
93
55
-10
-83
52
-3
-27
-50
-10
1
-3
-15
-110
61
-108
107
-39
26
-45
43
-66
-158
-15
72
-12
-1
20
-29
-4
-87
-70
-41
-183
42
161
-7
-113
60
120
-23
-19
-103
35
43
B. Claims reported by U.S. nonbanking concerns:
1
Long-term (table 2 line 44)
-586
-168
-202
-33
1
-37
-99
-74
-3
-28
-97
-86
3,65
2
Short-term nonliauid ftable 2 line 45)
-361
-530
-315
-67
-172
-64
-227
52
80
-36
-411
280
3,77
-1
-360
63
-423
-40
-57
-39
-74
-213
-34
-496
13
-509
-7
-47
-75
-69
-311
-82
-233
-15
-218
-64
44
-39
11
-170
-35
-32
-3
-29
-17
8
-10
-8
-2
14
-186
2
-188
-3
-12
-19
-20
-134
-21
-43
8
-51
16
4
15
-18
-68
8
-235
6
-241
-3
-47
-61
-23
-107
-65
117
(*)
117
-34
53
(*)
-20
118
40
40
1
39
6
40
-9
24
-22
3
-39
-6
-33
-20
-27
54
-4
-36
-60
-351
-10
-341
-16
-22
-84
11
-230
3
4
5
6
7
8
9
10
11
Reported b y brokerage concerns
Reported b y others
P a y a b l e in foreign currencies
P a y a b l e in dollars
Canada
United K i n g d o m
12
Short-term liquid (table 2 line 46)
13
14
15
16
17
18
19
20
21
22
23
- - _ . _ . - _ - _ - - - -
EuroDean Economic Community (6)
Japan
Other
-
- -
- --
Payable in dollars
By type:
Deposits (of major U.S. corporations only)
Other claims (of major U.S corporations only)
By area:
Canada
.
United Kingdom
Other
Payable in foreign currencies
By type:
Deposits
Other claims (of major U S corporations only)
By area:
Canada
Other
39
241
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
35
3,42
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
351
-531
-492
-324
-8
-143
-56
-290
-197
-131
126
-572
2,63
376
-448
-410
-302
40
-78
-108
-208
-170
-122
90
-428
2,04
365
11
-395
-53
-369
-41
-286
-16
51
-11
-57
-21
-103
-5
-159
-49
-148
-22
-151
29
89
1
-337
-91
1,91
13
142
287
-53
-121
-196
-131
-97
-101
-212
65
-334
-33
-4
90
-46
-109
109
-73
-61
26
-183
-60
35
61
-69
-162
-68
44
-98
93
-16
13
-232
-220
24
65
87
51
-25
-83
-82
-22
-48
52
-82
-27
-9
36
-144
58
12
-37
—84
1
—108
26
2
-24
—71
23
—80
15
65
-13
-28
-54
-58
31
-56
47
34
2
-38
-106
39
18
-39
14
-35
-48
63
-145
-10
-12
20
-68
—11
-54
-34
86
-41
-41
43
-70
36
-45
25
11
-115
-29
19
39
54
45
-16
82
-78
-65
Memorandum:
24
25
U.S. dollar deposits in Canadian Banks:
As reported by major U.S. corporations other than banks (included
inline B. 14)
As reported in Canadian banking statistics
136
84
-72
-118
-121
-US
-93
-173
—17
-72
-176
-114
32
103
-59
-254
82
-180
-136
-M
52
1,33
C. Nonliquid liabilities to private foreigners reported by U.S.
banks:
1
2
Long-term (table 2, line 53)-.
...
Of which international and regional organizations
..-
23
-100
-250
-344
149
116
-152
-160
-61
-72
-71
-78
34
-34
200
183
83
64
-73
-80
-61
-51
139
118
1,04
67
1,112
384
694
164
32
-191
379
-83
250
166
361
180
4,70
-7
218
14
91
127
79
-94
142
-7
149
22
64
63
115
-56
151
20
4,41
31
l,0C
3,09
D . Nonliquid liabilities to private foreigners reported by U.S. nonbanking concerns:
1
2
3
4
5
6
7
8
9
10
11
Long-term (table 2, line 51)
Of which
reported by Netherlands Antillesfinancesubsidiaries l
Short-term (table 2, line 52).
Reported by brokerage concerns
Reported by Netherlands Antillesfinancesubsidiaries l
Reported by others
Payable in foreign currencies Payable in dollars
Canada
Western Europe. _
Other....
^Preliminary.
*Less than $500,000. (±)
n.a. Not available
313
902
-85
456
531
26
505
273
232
328
-15
-37
-4
26
-21
47
-19
—80
146
1.
1
Antilles
from
1. x.bunds
u n u s oobtained
u i a m e a by
Dy finance
nnance subsidiaries
suDsiaianes incorporated
incorporated in
in the
the Netherlands
Netherlands
Antilles from
^ n n r n f i c /-vfV»^\*. +<U«i'-» « « ! „ « ~ r
i
•
n
...
• • • - • - • .
sources other t h a n sales of newly issued securities are included to the extent t h a t they are
transferred to U . S . parent companies.
192
173
54
-196
315
30
285
27
146
112
89
-265
162
-187
-240
-35
-205
-17
—169
-19
37
-79
-91
74
-62
-24
-38
-10
-92
64
42
168
-86
66
188
17
171
-6
56
121
160
161
-22
43
140
21
119
14
125
-20
-38
45
14
-50
81
-25
106
9
60
37
19
42
-13
-25
80
35
45
-8
49
4
-41
-26
-27
12
27
-15
4
-27
8
NOTE.—Details may not add to totals because of rounding.
*
* , o
-n
t T?
TT a T^
in i n Q l , r d a
Source: U.S. D e p a r t m e n t of Commerce, Bureau of Economic Analysis,
a
7
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
SURVEY OF CURRENT BUSINESS
June 1973
43
Table 8.—U.S. Liquid Liabilities to All Foreigners, Other U.S. Liabilities to Foreign Official Agencies, and
U.S. Official Reserve Assets, Net
[Millions of dollars]
Line
(Credits ( + ) ; increase in U.S. liabilities or decrease in U.S. assets.
Debits ( - ) ; decrease in U.S. liabilities or increase in U.S. assets.)
1971
1970
1971
II
U.S. liquid liabilities to private foreigners (table 2, line 54).
To foreign commercial banks. _
Seasonally adjusted
12
13
14
15
16
17
18
39
20
21
22
23
24
25
26
27
28
29
30
31
32
33
136
2,153
2,140
589
2,189
262
1,736
1,823
19,566
2,886
2,979
84
-775
1,932
1,761
2,174
1,898
511
486
1,978
1,186
140
295
1,233 -1,844
1,995 -1,910
12,967
1,680
-802
1,458
-721
-200
711
896
88
S4
106
-52
-579
1,285 -1,265
875
12,092
-890
-100
-230
90
2,006
-730
-802 -1,192
-440
111
•1,278
-567
-310
39
-4
786
702
-51
1
42
40
(*)
58
827
-483
185
-16
1
4
220 -1,349
4,177
518
-70
-32
181
1,633
-6
-14
7
-22
28
-67
114
135
-67
52
182
-47
-1
279
212
893
Demand deposits
Time deposits 3
U.S. Treasury bills
and certificates 2_
Other obligations 2 > 3 ' 4
•4,380 -5,339
-674
-504
-6
1,448 - 1 , 0
1,261
213
-2
3,909
-475
-4
2,390
1,502
104
280
U.S. liquid liabilities to foreign official agencies (table 2, line 55).
To central banks and governments
Demand deposits
.
Time deposits 3
U.S. Treasury obligations:
Bills and certificates
Payable in U.S. dollars
Payable in foreign currencies
Bonds and notes, marketable
Bonds and notes, nonmarketable, convertible..
Payabh in U.S. dollars
Payable in foreign
currencies
Other obligations 3 » 4 .
To International Monetary Fund
181
682
7
75
4
158
-1
130
516
13
10
116
57
-92
-18
12
144
64
1
29
64
1
-52
4
-57
-21
53
281
154
322
15
4,966
22
117
79
-24
94
179
117
-149
108
1.805
2,134
-71
-21
-4
110
-13
17
80
-3
36
-7
-2
-49
107
63
376
771
5,356
1,485
8,582
771
5,356
1,485
8,582
408
322
-297
-10
350
409
•2,975
•2,975
927
923
1,043
1,043
648
2,500
2,500
(*)
-132
825
3,501
8,500
1
410
i~li9
13
-45
-42
6,167
6,166
1
1,681
5
25
637
5
816
37,807
37,620
187
6,917
12, 241
11,000
1,241
4,721
-146
34
-34
-184
-124
-49
24
122
. 13
-35
-118
-51
-31
-22
210
4
33
-49
-25
-72
-1
-58
-3
11
-68
2
7,637
27,615
9,720
5,788
11,506
5,545
8,090
27,637
10,264
5,799
11,510
5,545
-279
261
-116
-13
141
170
112
7,496
4,456
4,456
-126
-546
-32
-50
18,954
18,944
10
1,660
5,631
5,000
681
1,474
-453
-810
3,281
6,015
6,000
22
4,776
4,783
-73
-311
4,801
4,549
252
-3
(*)
2,201
2,181
20
87
3,023
8,000
28
-370
7,758
-262
636
2,602
2,000
602
648
940
6
-139
27
2,108
2,652
-200
109
2,239
2,287
2
689
1
1
-186
588
66,055
66,055
1,543
2,826
15
729
369
-22
-544
-7
-11
-4
-551
399
-201
-160
-173
-17
221
27
34
117
1,202
1,745
189
-2
-4
-3
350
280
-4
78
-165
-43
3,664
-1
-1
-544
6
-111
To Canada:
In connection with Columbia River power rights
Other
_
_
U.S. Treasury obligations to Germany to be liquidated against
U.S. claims
341
-2
-24
375
-24
1,190
375
-4
200
-4
-4
81
-153
-12
-16
-25
24
-4
2,348
32
145
838
1,373
787
-851
2,152
866
-249
381
1,350
54'
-703
35
153
109
-592
456
196
-66
252
300
150
72
851
37;
255
644
130
-2
-4
32
2,840
200
-2
2,477
389
22
82
10
-12
-542
p Preliminary.
*Less than $500,000 (±).
1. Position figures reflect increase of $15 million in U.S. Treasury bills and certificates (line
27), $128 million in U.S. Treasury bonds and notes (line 31), $19 million in nonmarketable,
nonliquid U.S. Treasury obligations (liae 39) and a negligible amount in convertible currencies (line 47), as a result of revaluations in foreign currencies due to the dollar devaluation in
the first quarter, 1973.
2. During 1971, data included special Export-Import Bank and Treasury securities held as
custody items by U.S. reporting banks on behalf of their foreign branches.
3. With maturity of 1 year or less; negotiable certificates of deposit with a maturity of 1
year or less are included in "other obligations."
4. Includes debt securities of U.S. Government corporations and agencies with a maturity
of 1 year or less.
-78
2
221
72
535
Gold (table 2, line 59)
SDR (table 2, line 60)
Convertible currencies (table 2, line 61).
Gold tranche position in I M F (table 2, line 62).
31
115
122
4
38
-25
Nonconvertible U.S. Treasury securities issued:
To Italy in connection with military purchases in the U . S . . .
U.S. official reserve assets, net (table 2, line 58)..
15
-3
294
359
Nonliquid liabilities to foreign official reserve agencies, reported
by U.S. Government (table 2, line 57)
_
25
-19
-20
810
35
To Germany
_
To other countries
Export-Import Bank obligations
55
32
-21
-29
-232
Other readily marketable liabilities to foreign official agencies
(table 2, line 56)
37
149
-465
34
36
198
87
-852
9
8,263
-13
-23
-49
9,523
-54
-40
-126
5
IV
2,534
1,905
-981
-
III
4,776
178
8,684
Demand deposits
._-__
Time deposits 3
U.S. Treasury obligations:
Bills and certificates
Bonds and notes
Other obligations 3 * 4
II
3,862
-t
To other private foreign residents and unallocated.
IV
Amounts
outstanding
March
31,19731
6,508
6,848 -4,94^
-165
Demand deposits.
Time deposits 3
_
U.S. Treasury obligations:
Bills and certificates
Bonds and notes
Other obligations 3. <
III
1973
6,240 -6,691
To foreign branches of U.S. banks 2
Toothers
_
To international and regional organizations.
10
11
1972
1972
-8
-103
544
-710
64
-8
-53
122
66
220
12,931
-245
185
134
-15
82
-16
233
-13
10,487
1,958
8
478
5. Includes liabilities of U.S. monetary authorities for gold deposited by and held for the
IMF and includes U.S. Treasury obligations obtained from proceeds of gold sales by the
IMF to the United States to acquire income-earning assets. Investment was terminated in
February 1972 and gold was reacquired by the IMF.
6. Includes nonliquid liabilities reported by U.S. banks and investment in debt securities
of U.S. Government corporations and agencies, private corporations, and State and local
governments.
NOTE.—Details may not add to totals because of rounding.
Source: U.S. Department of Commerce, Bureau of Economic Analysis.
SURVEY OF CURRENT BUSINESS
44
June 1973
Table 9.—U.S. International
[Millions of
(Credits +; debits -)»
Line
Exports of goods and services 2
Merchandise, adjusted, excluding military 3_ _
._
Transfers under U.S. military agency sales contracts..
Travel
Passenger fares
Other transportation
_
_
Fees and royalties from unaffiliated foreigners
Other private services
...
_
U. S. Government miscellaneous services
Receipts of income on U.S. investments abroad:
Direct investment fees and royalties.
_
Direct investment interest, dividends and branch earnings 4
Other private assets
__.
U.S. Government assets.
Transfers of goods and services under U.S. military grant programs, net
Imports of goods and services
_
._
Merchandise, adjusted, excluding military 3
Direct defense expenditures
Travel
Passengers fares
O ther transportation
Fees and royalties to unaffiliated foreigners
Private payments for other services
U.S. Government payments for miscellaneous services
Payments of income on foreign investments in the United States:
Direct investment fees and royalties
Direct investment interest, dividends and branch earnings 4
Other private liabilitl es
U.S. Government liabilities
33
1969
1970
1971
1972
1969
4,610
9,098
11,074
11,407
11,819
4,322
4,940
4,917
2,729
55
96
77
294
64
101
20
6,817
395
138
83
400
135
97
23
8,318
270
166
93
474
158
111
27
8,012
674
193
100
505
162
136
39
8,657
276
231
107
540
162
174
35
2,753
175
83
45
486
35
3,319
152
101
48
516
36
80
91
3,172
142
107
51
564
43
91
86
227
332
194
250
255
283
470
184
115
323
572
180
97
353
460
130
67
413
785
169
90
505
878
158
585
861
161
31
130
246
123
113
143
219
131
104
149
300
128
-2
-1
297
232
-14,497 - 4 , 3 7 3
-4,893
-9,116
-1,622
-666
-493
-586
-54
-81
-70
-2,275
-249
-392
-232
-458
-14
-25
-55
-2, 406
-262
-471
-265
-533
-13
-35
-58
-6
-160
-554
1,089
-13
-57
-507
-97
-21
-67
-647
-117
-36
-96
-522
-171
(*)
200
167
(*)
(*)
(*)
-4,551
-4,702
-4,872
-5,574
-2,112
-208
-229
-260
-237
-41
-195
-14
-2, 214
-228
-293
-282
-287
-35
-192
-14
-2, 477
-258
-324
-289
-375
-37
-232
-14
-2, 945
-331
-342
-339
-376
-47
-214
-14
-26
-159
-1,038
-34
-19
-164
-937
-37
-11
-236
-407
-212
-15
-274
-455
-225
(*)
(*)
-62
-55
-53
-22
-32
-9,227
-10,621
-5,851 - 6 , 674
-1,172 - 1 , 2 8 5
-454
-546
-349
-395
-387
-431
-52
-52
-45
-54
-69
-71
-2
-132
-450
-262
45
-1
-12,158
- 7 , 600
- 1 , 496
-539
-426
-488
-55
-64
-73
-2
-132
-585
-3
-134
-533
-747
1
2
1
-45
-44
(*)
-107
64
(*)
-123
C)
U.S. liquid liabilities to foreign official agencies
_
Other readily marketable liabilities to foreign official agencies...
Nonliquid liabilities to foreign official reserve agencies reported by U.S.
Government.
-297
-232
-272
-247
-246
-281
(*)
-110
145
-35
-80
-132
-29
-91
-126
-28
-108
-145
-95
50
204
-193
161
54
-18
-81
-126
-67
11
-119
-27
-163
28
-232
-262
-7
-318
18
59
-131
118
127
73
110
7
156
4
186
3
204
129
165
-52
-13
-66
27
204
201
43
-364
99
-292
-502
-316
-164
-645
-175
1
-58
-42
-4
14
15
-59
-137
-47
-4
-83
373
6
-20
19
-41
-213
5,445
-3,816
2,288
-111
-55
529
253
4
1,050
257
-51
363
1,392
411
152
136
564
206
536
-72
-59
- 5 , 749
1,731
-2,353
Transactions in U.S. official reserve assets, net
Gold.
SDR...
C onvertible currencies
Gold tranche position in IMF.
5,318
662
1,847
-1,249
-518
-660
254
-1,260
-994
-1,795
-1,147
-165
-217
-1,068
333
-233
54
-275
69
-139
-238
-74
-37
-274
-40
38
-32
3
51
-35
-128
11
-10
33
-74
-65
121
-265
-36
12
19
-80
-14
-12
-68
19
-53
33
25
1,630
8,616
5,833
8,324
-19
-347
-193
127
188
65
884
167
-111
-65
1,564
-141
-1,078
7,898
5,181
7,080
-138
-621
-6
-7
-517
535
604
-23
-749
179
-1,095
-1
303
_.
1,847
-5,070
2,827
254
""232"
""356"
ng
-1,335
65
-108
-188
~.Y.~.Y."~.~.""'.
662
-2, 736
-267
-510
-287
-520
-18
-49
-63
-29
-26
13
82
112
-36
-5,273
-25
-36
-178
-29
U.S. Government nonliquid liabilities to other t h a n foreign official reserve
agencies.
85
272
35
-4
-23
-150
65
-146
-12
-14
-5
-14
-85
(*)
2,058
-553
4,332
-13
-4
-12
100
807
124
65
393
125
-57
-35
663
155
-3
1,132
-1,071
3,568
-25
-4
-4
-304
-25
270
-220
26
188
"-5l"
"""82"
-147
Other foreign private capital:
Direct investments in the United States *
_
U.S. securities other t h a n Treasury issues
Other long-term, reported b y U . S . nonbanking concerns
Short-term, reported b y U . S . nonbanking concerns
Long-term, reported b y U . S . b a n k s
U.S. liquid liabilities to private foreigners
1971
2,407
112
67
69
274
65
92
19
173
46
Foreign capital flows, net
1970
4,156
-18
-28
Claims reported by U.S. banks:
Long-term
Short-term, nonliquid
Short-term, liquid
Claims reported by U.S. nonbanking concerns:
Long-term
Short-term, nonliquid
Short-term, liquid
1972
2,543
175
51
69
261
58
88
18
-46
Direct investments abroad 4 .
Foreign securities
1971
4,271
(*)
Loans and other long-term assets
Foreign currencies and other short-term assets, net..
R e p a y m e n t s on credits:
Scheduled
Nonscheduled 5
U.S. private capital flows, n e t . .
1970
3,839
Unilateral transfers (excluding military grants), net....
U.S. Government capital flows, net
1969
2,070
290
43
64
216
58
79
16
U.S. military grants of goods and services, net
U.S. Government grants (excluding military)
U.S. Government pensions and other transfers
Private remittances and other transfers
Other Western Europe 8
European Economic
Community (6)7
United Kingdom
""-84"
C)
Allocations of special drawing rights (SDR)
Errors and omissions, and transfers of funds between foreign areas, net.
See footnotes at end of table.
-729
2,272
-230
-8,462
-3,9
-4,492
-1,209
1,074
-3,489
SUKVEY OF CUKEENT BUSINESS
June 1973
45
Transactions, by Area
dollars]
Eastern Europe
1969
1970
1972
1971
1969
1971
1970
Japan 9
Latin American Republics and Other
Western Hemisphere
Canada
1972
1969
1970
1971
1972
1969
1970
Line
1972
1971
302
421
471
928
12,126
12,452
14,149
16,398
9,350
10,411
10,450
11,200
4,522
5,927
5,557
6,700
1
253
368
409
857
11
2
17
2
14
4
18
2
15
9
20
2
21
8
23
3
9,128
45
815
7
191
30
108
6
8,973
35
896
8
230
35
130
7
10,385
75
934
10
274
33
153
7
12, 506
37
922
9
284
41
194
12
5,541
29
807
144
310
42
212
72
6,515
41
879
153
390
47
232
67
6,446
36
890
159
367
46
300
67
7,241
54
960
166
416
48
289
66
3,477
18
67
37
269
157
33
26
4,650
25
101
70
302
202
38
23
4,069
42
134
104
349
225
46
35
4,978
41
205
138
424
245
66
42
2
3
4
5
6
7
8
9
4
13
7
8
5
10
9
7
302
762
731
1
357
944
836
1
389
1,015
873
2
434
984
972
4
302
1,277
462
152
318
1,057
553
160
335
1,130
517
156
326
962
532
141
73
70
264
32
91
101
297
29
103
149
267
33
123
163
244
30
10
11
12
13
36
25
21
25
(*)
(*)
(*)
(*)
14
-234
-263
-277
-432
-12,015
-12,928
-14,441
-16,696
-7,572
-8,459
-8,607
-9,859
-6,260
-7,424
-8,970
-11,441
15
-199
-1
-19
-218
2
-24
-225
-4
-29
-363
-4
-39
- 9 , 940
-296
-900
- 1 0 , 618
-253
- 1 , 045
-12,120
-193
-1,111
-14,403
-168
-1,036
-9
-11
-1
-1
-13
-176
-4
-133
-10
-213
-132
-10
-236
-5
-149
-10
-257
-7
-166
-11
-5,217
-177
-1,162
-65
-227
-4
-146
-171
- 5 , 912
-169
- 1 , 220
-70
-267
-5
-165
-170
-6,116
-152
-1,322
-77
-290
-3
-180
-171
-7,068
-156
- 1 , 567
-104
-307
-4
-188
-181
-4,893
-651
-70
-54
-238
-4
-16
-19
-5,894
-670
-97
-70
-277
-4
-22
-21
- 7 , 278
-614
-88
-58
-346
-4
-18
-18
- 9 , 079
-839
-121
-76
-343
-6
-19
-22
16
17
18
19
20
21
22
23
-1
-56
-48
-355
-99
-62
-39
-378
-174
-64
-88
-258
-207
-45
-115
-243
-244
-12
-375
-18
-22
-446
-14
-28
-243
-27
-30
-246
-9
—4
—9
-225
-78
—4
—17
-261
-87
—40
-197
-306
(*)
-64
-227
-646
24
25
26
27
—36
—25
—21
—25
(*)
(*)
(*)
(*)
28
-67
-104
-128
-120
-466
-532
-541
-520
-261
-43
-227
-270
-55
-217
-234
-64
-233
-9
-6
(*)
(*)
(*)
(*)
(*)
-8
-8
-9
(*)
-1
(*)
-1
(*)
-1
(*)
(*)
-21
-30
-24
-26
-3
-7
-11
-9
-8
-13
-4
-10
-10
-1
-12
-13
-26
A
-53
-51
-63
-65
-72
-48
-221
-40
-205
-39
(*)
-9
-30
-44
-10
-34
i
-48
-41
29
-10
-38
1
-14
-29
30
31
32
32
4
6
-68
-4
-7
-25
-29
-554
-517
-357
-458
6
55
68
41
33
-10
16
-48
20
-62
24
-157
27
-5
2
-10
-28
3
-32
(*)
-876
3
-849
-4
-696
-7
-748
-9
-140
16
-161
2
-217
(*)
-223
-17
34
35
26
33
44
62
1
4
316
2
336
343
4
299
130
92
121
126
159
227
54
36
37
6
-12
C)
-29
-15
-17
-11
8
(*)
(*)
(*)
-2,263
-1,544
-1,201
-1,697
-434
-1,514
-1,362
-2,038
-616
-647
-940
-247
38
-671
—1,122
-908
—475
-273
-268
-380
-679
-393
-72
-578
—135
-691
-33
-279
—45
-89
—297
-128
31
-213
-126
-200
-29
39
40
-85
-201
76
-134
-82
64
-100
-387
-175
-259
-34
47
67
17
4
-408
-15
-136
-208
-45
-533
-805
-142
34
-244
16
-26
-466
8
-132
-371
-17
-69
376
-258
41
42
43
-13
-32
9
2
-73
5
(*)
-61
-20
-16
9
-60
44
45
46
-26
-30
4
-1
-3
-5
-4
-3
-15
-77
70
-177
-107
-18
104
-93
11
-155
-65
-70
-35
-134
18
}
16
-187
-25
-22
-195
-224
-212
24
(*)
(*)
(*)
8
-3
(*)
(
i
1,305
1,442
-268
756
827
-469
-16
947
569
1,101
10,004
5,140
47
(*)
6
-11
-34
13
11
-24
-9
-12
22
-2
-5
-8
48
(*)
243
219
-7
-30
238
123
20
-22
85
—45
5
-20
123
6
-8
3
11
161
40
2
59
66
103
117
60
56
99
103
-24
-9
64
51
-34
5
11
46
-1
12
19
2
-512
54
10
33
58
208
457
-20
1,079
-67
-610
419
602
-791
-325
876
519
1,071
10,424
4,445
49
50
51
52
53
54
-205
1,160
351
200
-3
8
(*)
9
2
-4
-12
-4
(*)
-1
(*)
1
-12
(*)
(*)
-70
(*)
24
4
4
(*)
(*)
(*)
(*)
(*)
(*)
1,914
1,388
55
56
57
44
131
4
119
58
44
131
4
119
59
60
61
62
-1,194
949
428
63
-71
-125
-144
-356
913
689
728
1,818
912
-5,672
-151
64
June 1973
SUEVEY OF CURRENT BUSINESS
46
Table 9.—U.S. International
[Millions
Australia, New Zealand and
South Africa
Line
Other Countries in Asia and
Africa»
International Organizations and EEC (9) «
Unallocated w
(Credits +; debits - ) »
Exports of goods and services 2_
_
Merchandise, adjusted, excluding military 3
_
Transfers under U.S. military agency sales contracts.
Travel
Passenger fares
Other transportation
._
Fees and royalties from unaffiliated foreigners
Other private services
U.S. Government miscellaneous services
Receipts of income on U . S . investments abroad:
Direct investment fees and royalties
Direct investment interest, dividends and branch earnings 4_.
Other private assets
U.S. Government assets
1969
1970
1971
1972
2,064
2,509
2,532
2,468
1,546
60
53
58
85
29
39
1
187
324
1,355
103
36
36
60
22
36
1
168
41
47
85
24
29
1
128
214
50
24
145
299
53
25
165
310
57
27
20
Transfers of goods and services under U.S. military grant programs, net.
Imports of goods and services
Merchandise, adjusted, excluding military 3
Direct defense expenditures
Travel
Other transportation
Fees and royalties to unaffiliated foreigners
Private payments for other services.
U.S. Government payments for miscellaneous services
P a y m e n t s of income on foreign investments in the United States:
Direct i n v e s t m e n t fees and royalties...
Direct i n v e s t m e n t interest, dividends and branch earnings «_..
Other private liabilities
U.S. Government liabilities
-1,273
-1,374
-1,404 -1,724
-1,059
-42
-28
-50
-30
-1
-5
-26
-1,128
-1,139
-40
-55
-38
(*)
-23
-50
-57
-38
(*)
-16
-25
(*)
-24
-1
-25
-10
(*)
-24
-17
-22
-23
-24
U.S. Government grants (excluding military)
U.S. Government pensions and other transfers
Private remittances and other transfers
U.S. Government capitalflows,net
Loans and other long-term assets
Foreign currencies and other short-term assets, net.
Repayments on credits:
Scheduled
Nonscheduled 5
-3
-19
-4
-19
1971
1972
9,124
10,203
11,616
12,774
5,006
457
511
19
207
165
5,685
612
95
56
593
20
209
147
6,174
779
98
73
601
18
253
149
6,652
513
114
85
668
24
278
144
147
1,997
232
280
173
2,036
266
311
202
2,610
259
401
238
3,356
282
419
2,525
2,331
2,861
-7,282 - 7 , 7 6 8
-8,647
-4,724
-1,935
-233
-47
-240
-2
-27
-252
-5, 775
-1,808
-1,406 -4,261
- 2 4 -2,061
-58
-153
-68
-44
-40
-213
-1
-14
-25
-245
(*)_
-28
U.S. military grants of goods and services, net
Unilateral transfers (excluding military grants), net
1970
-2
-211
-74
-61
-266
-1
-7,714
-1,281
-390
-86
-305
(*)
-246
-242
-2
(*)
-237
-70
-2
(*)
-104
-43
(*)
(*)
-115
-64
248
257
282
"I§3
163
"l90"
216
2
20
301
79
1
24
176
85
15
29
435
108
13
27
395
126
-801
-858
-831
-952
-26
-485
-31
-521
-35
-509
-45
-579
-110
-116
-150
-58
-114
-65
-113
197
-84
-108
-3,930
-2,266
-2,501
-134
-155
-188
-277
-1,554
-143
-569
-1,723
-148
-630
-155
-188
-277
-6
-18
-1,279
-125
-580
-134
-5
-19
-1,251
-115
-489
-1,325
-1,221
-1,621
-918
-43
-66
-69
-1,748 - 1 , 6 3 7
-26
88
-2,480
144
-1,790
131
-48
-58
-71
-74
727
-11
735
6
-56
-21
-29
-143
1
-120
-1
-94
-1
100
66
343
-9
423
19
-365
-387
-821
-511
-720
-837
-296
-320
-45
-227
-159
-545
-276
-391
-121
-58
-428
32
-348
-128
-64
C)
(*)
(*)
(*)
(*)
-16
-55
-45
-157
-58
-109
-416
-511
2,106
59
-223
-12
355
2
102
5
76
6
52
-4
74
-2
110
-378
-627
1,565
-79
-292
-630
-409
-712
-538
-160
23
12
-333
30
-244
23
-430
-124
-367
-157
Claims reported b y U . S . b a n k s :
Long-term.. _
Short-term, nonliquid
Short-term, liquid
53
-1
4
53
-27
-5
-110
-162
-12
-25
-104
-15
95
-165
-17
Claims reported b y U . S . nonbanking concerns:
Long-term
_.
Short-term, nonliquid
Short-term, liquid
-1
-6
10
-18
-19
-24
-26
-18
-18
169
123
449
2,182
44
-38
5
1
-14
15
34
11
-24
24
-32
125
464
28
(*)
28
-18
2,182
U.S. liquid liabilities to foreign official agencies
Other readily marketable liabilities to foreign official agencies...
Nonliquid liabilities to foreign official reserve agencies reported
b y U . S . Government.
-186
-1,711 - 1 , 8 2 0
72
Gold
SDR
Convertible currencies
Gold tranche position in I M F
1
384
-90
412
-101
379
346
92
231
-436
320
-332
(*)
165
-1,044
-306
1,123
-6
165
-10
156
-851
22
-249
544
-703
-1,034
389
1,350
153
867
717
710
272
-1,377
164
Allocations of special drawing rights (SDR)
See footnotes at end of table.
n
-70
Transactions in U.S. official reserve assets, net
Errors and omissions, and transfers of funds between foreign
areas, net.
1,042
-2,861
-44
Other foreign private capital:
Direct investments in the United States *
U.S. securities other t h a n Treasury issues
Other long-term, reported b y U . S . nonbanking concerns.
Short-term, reported b y U . S . nonbanking concerns
Long-term, reported b y U . S . b a n k s
U. S. liquid liabilities to private foreigners
(*)
1,032
-1,854 - 1 , 9 8 4
Direct investments abroad *..
Foreign securities
U . S . Government nonliquid liabilities to other t h a n foreign
official reserve agencies:
711
1972
-2,525 - 2 , 3 3 1
U.S. private capital flows, n e t . . .
Foreign capital flows, net
731
1971
-23
-115
-3
74
-10,235
1970
-816
-899
-903
-2,463
2,192
1,560
3,095
594
1,272
SURVEY OF CURRENT BUSINESS
June 1973
47
Transactions, by Area—Continued
of dollars]
European Economic Community (6) 7
United Kingdom
I
1972
1973
1972
1972
1973
Line
1972
1973
III
IV
IP
I
II
III
IV
2,850
2,840
2,786
3,343
3,764
1,356
1,352
1,308
1,508
1,552
178
150
255
345
2,133
84
32
19
109
41
40
8
2,080
67
71
31
144
41
42
9
1,965
56
68
35
146
40
45
10
2,479
69
60
23
141
41
48
9
2,929
58
42
23
133
41
48
7
912
35
20
9
129
12
24
21
883
30
37
16
157
12
26
22
826
42
33
17
165
13
27
24
982
24
35
12
163
13
30
25
1,079
29
21
11
146
13
28
21
162
132
239
324
474
4
2
5
1
4
2
5
1
5
2
6
1
8
2
6
1
9
2
6
1
150
157
39
11
130
253
38
(•)
170
267
42
-4
165
268
46
4
42
101
31
21
44
89
30
6
41
74
29
18
59
124
34
7
41
107
36
20
2
2
2
4
3
1
3
1
3
3
—1
83
60
30
74
90
III
IV
1,111
1,074
1,049
1,375
1,391
722
11
16
13
63
16
26
5
612
12
23
21
76
16
26
5
640
15
35
26
78
16
2*>
6
755
17
22
16
77
16
25
5
795
13
22
16
78
17
26
5
75
116
44
4
83
132
44
26
75
107
44
-17
91
218
49
84
83
282
52
4
136
185
42
23
I
(*)
1973
Eastern Europe
II
II
IP
Other Western Europe *
(*)
(*)
(*)
(*)
*
I
IP
II
III
IV
IP
498
<
1
1
1
1
1
-1,326
-1,483
-1,304
-1,462
-1,461
-3,391
-3,562
-3,813
-3,731
-3,955
-1,564
-1,725
-1,740
-1,632
-1,577
-80
-93
-131
-128
-134
1
-736
-88
-26
-64
-84
-10
-59
-3
-752
-111
-122
-114
-85
-11
-55
-3
-624
-62
-129
-94
-105
-12
-51
-4
-833
-70
-65
-67
-102
-13
-48
-4
-823
-96
-30
-72
-105
-13
-52
-4
-2,263
-407
-60
-79
-130
-14
-17
-18
-2,172
-419
-219
-160
-128
-14
-19
-17
-2,282
-382
-291
-160
-163
-13
-22
-18
-2,399
-415
-96
-94
-165
-13
-24
-17
-2,636
-401
-65
-90
-169
-14
-23
-18
-917
-77
-78
-60
-167
-5
-14
-16
-862
-80
-203
-141
-161
-5
-16
-16
-859
-75
-258
-110
-157
-5
-18
-19
-949
-67
-98
-58
-156
-5
-20
-19
-879
-70
-85
-55
-150
-5
-19
-19
-71
-1
-2
-75
-1
-10
-103
-1
-22
-114
-1
-5
-123
-3
(•)
(*)
-3
-3
(*)
(•)
-3
-2
(•)
(*)
-3
-4
(*)
(•)
-3
-3
(*)
(*)
-5
1
1
1
1
2(
2
2
2,
-1
-82
-100
-74
-1
-59
-105
-64
-10
-55
-114
-44
-3
-77
-137
-43
-5
-80
-137
-44
-2
-42
-140
-221
-2
-31
-135
-247
-2
-38
-142
-301
-1
-50
-138
-321
-5
-27
-142
-366
-14
-22
-138
-57
-22
-22
-142
-53
-16
-13
-148
-62
-19
-18
-160
-64
-28
-25
-177
-66
(*)
(*)
2
2
2
2
(*)
(*)
(*)
(*)
-16
-12
-14
-14
-15
10
7
25
-7
-9
-7
-5
-8
-6
-8
-6
-9
-6
(*)
-32
42
(*)
-33
40
(*)
-6
31
(*)
(*)
(*)
(*)
(*)
(*)
(*)
(*)
(*)
i
-2
1
—83
—60
—30
—74
—90
8
-78
-87
-82
32
46
-6
-7
-7
-7
(*)
-40
33
—14
-27
-37
—17
-27
-43
—15
-30
-38
105
-34
-39
112
-28
-37
(*)
-3
-3
-3
-4
-3
-4
(*)
-3
-3
(*)
-40
48
-2
3
3
3
-7
2
-6
2
-5
-7
38
-27
-23
-66
-11
-10
-59
-151
-71
-2
30
-69
-27
-167
3
-6
-15
7
-60
29
-25
6
-30
-8
-47
1
-75
-6
-79
1
-73
3
-101
8
-229
-2
-127
(*)
-21
5
-5
11
-84
7
-48
4»
-191
5
3
3
3
137
3
24
50
7
11
24
15
52
15
50
10
34
77
3
56
14
24
8
16
19
3
3
147
-122
-178
-262
-741
-243
-184
21 - 1 , 1 8 0
-394
168
-129
126
-647
-43
-11
-23
7
-69
161
17
-40
26
88
24
-210
—58
-635
72
-310
108
-317
69
194
83
-980
56
-306
54
78
42
-37
42
240
18
-425
37
-8
-20
14
11
2
-95
-10
-74
-138
17
-19
28
3
-202
10
-10
84
-92
-28
30
47
-2
-186
-5
-14
34
-182
-9
-63
-30
-3
19
11
-23
-107
-12
-13
-12
26
-76
-189
-6
-7
-36
2
-12
-2
-1
-5
6
2
-2
2
1
-1
60
—71
21
30
—68
-20
-19
12
-10
-38
—20
58
134
—211
3
-17
25
-8
8
—24
-3
54
—36
-4
-113
54
-29
-27
38
-8
-28
4
13
7
20
-17
5
-15
-95
—23
-13
26
-4
2
1
3
-1
-25
1
5
1,006
179
-2,019
-262
87
1,890
1,819
4,644
-29
9,680
15
117
1,782
638
1,770
(*)
9
13
2
4
—5
2
—3
30
—79
3
—6
— 111
90
4
19
67
g
(*)
7
331
—41
36
—23
192
140
56
58
151
8
—48
—38
376
150
—95
14
326
—36
155
63
404
—42
13
—82
290
2
18
—20
65
— 119
12
—27
806
18
103
34
497
40
21
17
244
1
44
17
203
11
28
—2
343
—36
22
35
386
55
44
171
590
13
— 15
670
-182
-2,189
-652
-402
1,449
1,628
4,655
-652
9,057
-204
-147
1,438
51
1,004
82
—4
80
— 16
_2
1
-3
63
64
36
55
-13
127
-19
10
-8
4
-5
-11
c
3
43
59
-211
-190
—23
-1
-16
31
(•)
(*)
-241
-241
245
242
C)
(*)
C)
(*)
C)
C)
1
Q
— 165
-21
-21
63
64
2
-5
-5
-105
-105
-53
-16
(*)
-7
(*)
1
-1
—2
6
—5
11
7
7
103
4
4
4
4
4
4
4
4
4
5
5
5
5
5
-7
5
5
5
2
103
3
3
4
5
170
5
64
6
6
170
6,
-600
282
2,177
414
266
-610
-901
-3,428
447 - 8 , 3 1 3
612
190
-975
-623
-1,243
-47
-79
-38
-191
-115
6^
SURVEY OF CURRENT BUSINESS
48
June 1973
Table 9.—-U.S. International
[Millions
Canada
(Credits +; debits - ) 1
Line
1972
2
3
4
5
6
7
8
9
10
11
12
13
Exports of goods and services 2 .
.
Merchandise, adjusted, excluding military 3
Transfers under U S. military agency sales contracts
. .
Travel
.
Passenger fares
Other transportation
Fees and royalties from unaffiliated foreigners
. .
Other private services
_.
U S Government miscellaneous services
.
Receipts of income on U.S. investments abroad:
Direct investment fees and royalties
Direct investment interest, dividends and branch earnings *
Other private assets
.
U.S. Government assets
-
14
Transfers of goods and services under U.S. military grant programs, net
15
Imports of goods and services
16
17
18
19
20
21
22
23
Merchandise, adjusted, excluding military 3
Direct defense expenditures
Travel
Passenger fares
-.
Other transportation
.
Fees and royalties to unaffiliated foreigners
Private payments for other services
U.S. Government payments for miscellaneous services .
24
25
26
27
Payments of income on foreign investments in the United States:
Direct investment fees and royalties
Direct investment interest dividends and branch earnings 4
Other private liabilities
U.S. Government liabilities
-
28
U.S. military grants of goods and services, net
29
Unilateral transfers (excluding military grants), net
30
31
U.S. Government grants (excluding military)
U.S. Government pensions and other transfers
Private remittances and other transfers
32
33
34
35
36
37
38
IV
\v
3,734
4,306
3,948
4,410
4,559
2,644
2,752
2,866
10
225
2
61
9
43
1
3,337
14
238
2
73
10
47
8
2,960
6
305
3
75
11
50
2
3,343
8
154
2
75
11
55
2
3,554
17
235
3
68
11
54
1
1,713
15
208
35
90
12
77
16
1,743
16
250
45
105
12
74
17
99
187
232
(*)
103
235
238
1
104
188
243
1
128
373
259
1
104
261
252
1
72
253
123
30
80
242
127
40
6
6
6
7
7
-3,789
-4,368
-4,034
-4,506
-4,602
-2,590
-2,359
-2,426
-2,484
-2,995
-3,406
-47
-86
-3,814
-46
—243
-3,167
-39
-553
-4,016
-36
-154
-4,173
-40
-92
-54
-2
-40
-3
-60
-2
-42
-3
-71
-2
-40
-3
-72
-2
-44
-3
-66
-2
-43
-3
-1,857
-39
-443
-24
-73
-1
-43
-42
-1,675
-48
-376
-31
-70
-1
-49
-43
-1,711
-37
-395
-30
-80
-1
-51
-49
-1,825
-32
-353
-19
-83
-1
-45
-47
-2,202
-37
-468
-24
-85
-1
-46
-45
— 11
-25
-57
-58
— 11
-28
-59
-60
— 11
-25
-62
-63
-11
-39
-66
-63
-14
-37
-70
-63
-7
-59
-2
-7
-56
2
-8
-62
-2
-7
-70
-3
-7
-76
-4
-6
-6
-7
-7
-22
-26
-40
-32
-7
-131
-139
-136
-114
-132
-17
-6
-17
-9
-18
-22
-20
-12
-21
14
-56
-16
-58
-72
-15
-52
-64
-16
-57
-41
-17
-55
-40
-20
-72
-6
-8
2
-12
-12
-1
-2
-1
-1
-9
-12
-4
-5
1
-70
-137
-1
-122
-195
-7
-124
-188
1
-142
-230
-2
-115
-195
2
68
79
62
90
79
4
44
45
46
59
60
61
62
-6
-
-
1
C)
3
(*)
1
IV
Iv
2,798
3,007
2,991
1,803
7
267
50
112
12
70
16
1,982
15
235
37
109
12
68
16
1,965
12
214
38
108
12
72
17
86
219
129
27
88
249
153
44
80
282
157
35
III
(*)
-1,118
108
-531
-156
-872
-82
-646
-520
-790
-342
---
-188
-173
150
-343
-331
60
-11
-222
-77
7
-42
-13
16
-43
-49
13
-204
-2
-26
-72
.
-15
-132
-328
-51
-122
354
-14
19
-190
-95
-24
130
-68
-1
-540
-41
-67
-20
-146
-267
-37
-217
-120
-59
-129
-351
-26
24
-162
-44
-19
-39
-224
-10
27
104
-12
-30
-33
-24
-28
118
-4
159
-348
-16
-5
8
-9
-68
238
689
-125
-46
-2
-444
692
-159
858
-274
-1
-3
14
4
-5
-10
1
1
-4
4
44
-39
-1
-11
106
-7
-1
-19
-33
25
-9
-4
6
28
3
37
55
122
24
-13
-11
13
-3
70
-26
-25
88
-9
12
-39
37
-62
1
42
-58
52
10
-13
42
33
46
614
-117
-124
-185
-504
663
-108
825
-350
(*
(*
(*
(*
(*
(*
339
928
673
-178
567
-335
866
U.S. private capital flows, net
Claims reported by U.S. nonbanking concerns:
Long-term
Short-term, nonliquid
Short-term liquid
58
II
(*)
Claims reported by U.S. banks:
Long-term
Short-term nonliquid
Short-term, liquid
55
56
57
I
- --
(*)
41
42
43
49
50
51
52
53
54
- -
Repayments on credits:
Scheduled
Nonscheduled 5
Direct investments abroad
Foreign securities
48
-.
1973
III
-
U.S. Government capital flows, net
Loans and other long-term assets
Foreign currencies and other short-term assets net
39
40
47
-
1972
1973
II
I
1
Latin American Republics and Other Western
Hemisphere
.
- - .
.
.
Foreign capital flows, net
- - --
U.S. Government nonliquid liabilities to other than foreign official reserve agencies.
Other foreign private capital:
Direct investments in the United States 4
U.S. securities other than Treasury issues
Other long-term, reported by U.S. nonbanking concerns . .
Short-term, reported by U.S. nonbanking concerns...
Long-term, reported by U.S. banks
_
U.S. liquid liabilities to private foreigners
.
U.S. liquid liabilities to foreign official agencies
Other readily marketable liabilities to foreign official agencies
Nonliquid liabilities to foreign official reserve agencies reported by U.S.
Government.
Transactions in U S official reserve* assets npt
Gold
SDR
Convertible currencies.Gold tranche position in I M F
_
__
en
Q
200
63
64
Errors and omissions, and transfers of funds between foreign areas, net-
963
v Preliminary.
* Less than $500,000 (±).
1. Credits, -f: Exports of goods and services; unilateral transfers to U.S.; capital inflows
(increase in U.S. liabilities or decrease in U.S. assets); decrease in U.S.
official reserve assets.
Debits, —: Imports of goods and services; unilateral transfers to foreigners; capital outflows (decrease in U.S. liabilities or increase in U.S. assets); increase in U.S.
official reserve assets.
2. Excludes transfers of goods and services under U.S. military grant programs.
http://fraser.stlouisfed.org/
Federal Reserve Bank of St. Louis
-699
785
3. Excludes exports of goods under U.S. military agency sales contracts identified in Census
export documents, and imports of goods included under direct defense expenditures identified
in Census import documents, and reflects various other balance-of-payments adjustments
(for valuation, coverage, and timing) to Census statistics; see table 4.
4. Excludes reinvested earnings of foreign incorporated affiliates of U.S. firms or of U.b.
incorporated affiliates of foreign firms.
5. Includes sales of foreign obligations to foreigners.
SURVEY OF CURRENT BUSINESS
June 1973
49
Transactions, by Area—Continued
of dollars]
Japan •
1972
I
II
1972
1973
III
Other countries in Asia and Africa9
Australia, New Zealand and South
Africa
IV
IP
I
II
1973
IV
III
1972
1973
I
IP
II
IV
Ill
I
IP
II
1973
III
IV
1,632
1,548
1,607
1,912
2,421
610
545
617
696
785
3,077
3,182
2,964
3,550
3,832
1,212
20
45
32
86
59
14
5
1,127
8
50
31
118
61
16
8
1,170
6
51
38
116
62
17
12
1,469
8
59
37
105
63
19
17
1,881
7
75
51
108
65
19
18
393
15
9
9
18
7
11
(*)
328
17
11
17
23
7
10
403
9
19
18
23
8
9
1
422
19
14
14
21
8
9
(•)
482
16
10
9
21
8
9
(*)
1,665
122
20
16
166
5
73
34
1,672
163
36
18
168
6
72
35
1,485
88
35
30
160
6
68
38
1,830
140
23
21
175
7
66
36
2,137
172
23
17
202
6
71
35
29
50
72
9
29
33
60
7
30
46
55
6
35
35
59
8
39
78
71
9
49
82
15
2
42
62
17
12
41
70
15
2
56
110
19
5
64
138
18
10
40
763
71
103
79
780
65
90
61
814
71
107
58
1,000
75
120
52
949
85
83
1 054
854
1 153
868
621
-2,617
-2,756
-3,012
-3,057
-2,965
-344
-417
-507
-457
-460
-2,369
-2,418
-2,681
-2,768
-2,942
-2,090
-204
-17
-15
-84
—1
-4
-5
-2,173
-216
-35
-23
-83
—1
-4
-6
-2,410
-205
-44
-26
-87
—2
-5
-6
-2,406
-215
-25
-12
-90
—2
-5
-6
-2,313
-219
-19
-16
-89
—2
-5
-6
-271
-7
-18
-13
-10
(*)
-4
-6
-343
-6
-13
-19
-10
(*)
-371
-5
-11
-17
-10
(*)
-3
-6
-351
-6
-19
-14
-10
(*)
-3
-7
-1,733
-354
-82
-12
-78
-2,040
-301
-119
-30
-72
(*)
-10
-63
-2,147
-310
-92
-23
-73
(*)
-10
-60
-2,344
-288
-90
-13
-78
(*)
-10
-61
-12
-134
-12
-160
-9
-60
-1,794
-316
-97
-21
-81
(*)
-10
-59
-11
-133
-6
-421
-6
-16
-19
-10
(*)
-3
-7
-10
-17
-13
-61
-155
(*)
-33
-77
-186
—1
—8
-85
-203
-6
-7
-6
-10
__1
-8
-16
-26
-14
(*)
-26
-14
(*)
(*)
-29
-16
(*)
-34
-19
(*)
-39
-20
-16
-28
-16
-28
1 054
854
868
C)
(*)
-3
-42
-152
-15
-48
-153
(*)
—1
-8
-26
—1
-17
-31
(*)
-11
-7
-1
-4
-7
2
-3
-6
2
-89
3
63
-56
-4
58
30
123
-12
-85
-23
(
\
International Organizations and
Unallocated "
433
-3
-72
-13
-11
-11
-6
1
67
72
78
85
55
1
57
1
58
(*)
5
24
47
1
6
15
12
-7
5
13
55
10
343
12
6
19
54
1
10
11
12
13
-198
-207
-294
-253
-226
15
-10
-152
-11
-160
-77
-45
-6
16
17
18
19
20
21
22
23
-17
-29
-17
-28
-19
-30
24
25
26
27
-621
28
14
-659
-574
-586
-682
-577
-55
-132
-64
-27
-48
29
—379
-37
-158
—394
-37
-156
—471
-38
-173
—404
-39
-134
-55
-132
-64
-27
-48
30
31
32
-13
-13
1
-1
-44
-44
-41
-44
33
34
35
3
36
37
-1
-4
-1
-5
-2
-5
-2
-4
-2
-4
14
-19
-38
-59
-16
116
-53
-6
-28
-31
1
25
-23
2
-17
-22
1
-10
-19
-1
10
-31
-1
-201
-440
57
-375
-526
4
-168
-375
17
-174
-450
53
-315
-526
-25
-14
-17
25
7
21
17
63
111
2
49
5
10
42
181
148
190
216
6
236
3
C)
222
53
(*)
-4
-6
3
30
-698
-1,411
-78
-155
-87
-90
47
-415
-539
-205
-662
-684
-314
11
2
-211
-331
38
-49
-54
-64
119
-116
99
-73
12
-99
6
-86
4
15
2
12
1
-96
-106
-383
-82
-72
-32
-287
-76
-348
-52
-78
-237
-8
20
-80
81
-226
15
-354
22
39
40
-26
-604
-97
8
-1,017
-390
— 11
-5
7
—8
-14
-10
(*)
-8
—6
-77
-8
7
29
5
—76
-91
(*)
—77
20
2
—97
22
-15
—98
-79
-51
—130
-156
25
(*)
-1
C)
41
42
43
-2
-12
-17
7
-12
-3
-8
1
-26
-20
-4
-15
-24
13
-4
-67
-26
4
466
661
706
-131
187
582
894
166
-1
-20
-15
1
25
—33
4
-4
2
-20
8
— 14
4
29
—27
1,011
66
1,402
2,662
-985
3
-4
(*)
349
-1
163
21
279
40
182
61
173
-79
-34
178
82
-24
(*)
4
17
192
99
1
2
1,448
-228
896
2,329
-1,188
345
27
-6
500
66
-4
-7
20
206
-96
-478
-6
201
51
-9
-31
486
60
(*)
-6
147
IP
2
3
4
5
6
7
8
9
—479
-36
-144
(*)
-32
288
-125
-7
-5
1 153
194
1
4
A
443
99
122
137
72
—3
36
-2
-41
31
2
-11
(*)
7
1
46
1
37
5
78
(*)
23
-4
-8
199
323
406
637
107
4
-4
-9
6
-2
(*)
15
(*)
5
-29
-2
15
-8
1
1
19
8
440
688
709
-166
1
(*)
(*)
(*)
44
45
46
{ *
-287
120
-116
182
125
172
-19
35
12
-330
-52
-97
147
113
—167
192
-15
-16
-13
58
-13
59
6C
61
62
710
63
130
312
64
-710
—1
-27
-772
2,835
-505
-458
-661
-839
-246
6. The "European Economic Community (9)" includes the "European Economic Community (6)", the United Kingdom, Denmark, and Ireland.
7. The "European Economic Community (6)" includes Belgium, France, Germany,
Italy, Luxembourg, and the Netherlands.
8. "Other Western Europe" excludes the United Kingdom and the "E.E.C. (6)" through
the fourth quarter of 1972. Beginning in the first quarter of 1973 "other Western Europe"
excludes
the "E.E.C. (9)".
9. Transactions with the Ryukyu Islands that were under U.S. military administration
380
279
94
-158
519
49
50
51
52
53
54
43
544
653
47
48
—25
-5
Line
7
185
-118
-15
286
-16
-133
55
56
57
from the end of World War II until May 15,1972, are included with Japan beginning in the
first quarter 1972; in previous periods they are included with "other countries in Asia and
10. includes transactions with shipping companies operating under the flags of Honduras,
Liberia and Panama.
NOTE.—Details may not add to total because of rounding.
Source: U.S. Department of Commerce, Bureau of Economic Analysis.
SURVEY OF CURRENT BUSINESS
50
June 1973
Table 9a.—U.S. International Transactions, by
[Millions
Line
(Credits + ; debits - )
Belgium-Luxembourg
l
1970
1969
Exports of goods and services 2
Merchandise, adjusted, excluding military 3 . . .
Transfers under U.S. military agency sales contractsTravel
Passenger fares
_
Other transportation
Fees and royalties from unaffiliated foreigners
Other private services
U.S. Government miscellaneous services
France
1972
1971
1970
1969
1971
1972 v
1,126
1,409
1,321
1,426
1,708
2,026
1,982
2,297
948
8
11
5
34
8
7
1
1,190
10
12
5
40
10
6
1
1,057
11
11
6
43
8
11
1
1,146
8
12
5
44
8
12
1
1,241
18
34
21
86
34
26
5
1,548
8
39
24
89
43
28
5
1,404
9
48
25
91
44
40
18
1,644
5
63
29
97
37
42
11
100
30
13
122
141
33
7
150
171
Receipts of income on U.S. investments abroad;
Direct investment fees and royalties. _
Direct investment interest, dividends and branch earnings *
Other private assets
U.S. Government assets
_
_
72
91
12
-2
Transfers of goods and services under U.S. military grant programs, net..
mports of goods and services
_
Merchandise, adjusted, excluding military 3
Direct defense expenditures
Travel
Passenger fares
Other transportation.
_
Fees and royalties to un affiliated foreigners
Private payments for other services
U.S. Government payments for miscellaneous services
_
Payments of income on foreign investments in the United States:
Direct investment fees and royalties
Direct investment interest, dividends and branch earnings *.
Other private liabilities
U.S. Government liabilities
-873
-920
-1,072
-1,247
-1,370
-1,551
-1,743
-2,151
-687
-39
-18
-13
-30
-5
-2
-9
-699
-36
-22
-15
-31
-5
2
-845
-40
-22
-20
-34
-6
1
-7
-46
-31
-24
-40
-9
-8
-7
-855
-18
-141
-85
-49
-15
-14
-28
-952
-17
-160
-96
-55
-13
-17
-27
-1,094
-20
-169
-105
-64
-12
-20
-28
-1,385
-16
-200
-124
-72
-15
-24
-21
-26
-1
-5
-77
-30
-173
-32
(*)
-10
-125
-96
(*)
-22
-136
-136
n.a.
n.a.
n.a.
n.a.
n.a.
-37
-42
-41
-27
-28
-10
-32
-11
-30
2
27
-7
-33
(*) •
-6
-61
-3
U.S. military grants of goods and services, net.
-85
-11
n.a.
Unilateral transfers (excluding military grants), net.. .
-9
U.S. Government grants (excluding military)
U.S. Government pensions and other transfers
33
-1
-7
-2
-7
-12
-2
-2
-11
n.a.
-35
Private remittances and other transfers.
U.S. Government capital flows, net
C)
Loans and other long-term assets
Foreign currencies and other short-term assets, net.
Repayments on credits:
Scheduled
Nonscheduled 5_.
U.S. private capital flows, net..
40
-2
-7
-1
-12
-141
Direct investments abroad 4 .
Foreign securities
_
-145
-76
-427
-529
-246
-177
-134
55
-88
6
-332
-8
-246
-26
-156
20
g
3
-10
4
-65
(*)
-35
—6
-51
-39
-128
-26
-20
-44
-23
-28
-34
-26
-37
15
6 936
6 1,009
6 2,142
6
6 -1,
6 _4
23
144
-39
-1
790
32
56
88S
1,286
6 569
6 203
6 - 7
(*)_
-3
«263
6 350
6 _g
6 —5
-1
87
88
1
-5C
12
6 _g
19
329
41
-28
(]
115
31
-2,
(*)
-11
215
46
6 482
e _
224
55
1
394
U.S. liquid liabilities to foreign official agencies.-.
Other readily marketable liabilities to foreign official agencies
198
-1!
Nonliquid liabilities to foreign official reserve agencies reported by U.S. Government(*)
Transactions in U.S. official reserve assets, net
Gold
108
-32i
Hi
I.«II"I""II""III""II""I""""""I"""II"I"""I""II
(*)
329
47:
129
473
234
20C
-620
-1,303
.
_
Errors and omissions, and transfers of funds between foreign areas, net
* Preliminary.
* Less than $500,000 (±).
n.a. Not available.
1. Credits, -f: Exports of goods and services; unilateral transfers to U.S.; capital inflows
(increase in U.S. liabilities or decrease in U.S. assets); decrease in U.S.
official reserve assets.
Debits, - : Imports of goods and services: unilateral transfers to foreigners; capital
outflows (decrease in U.S. liabilities or increase in U.S. assets); increase in
U.S. official reserve assets.
2. Excludes transfers of goods and services under U.S. military grant programs.
29
-202
-1
—4
12
Convertible currencies
Gold tranche position in I M F
Allocations of special drawing rights (SDR)
28
-175
1
14
-11
SDR
27
-162
Claims reported by U.S. nonbanking concerns:
Long-term
Short-term, nonliquid... .
Short-term, liquid
Other foreign private capital:
Direct investments in the United States «__„
U.S. securities other than Treasury issues...
Other long-term, reported by U.S. nonbanking concerns
Short-term, reported by U.S. nonbanking concerns.
Long-term, reported by U.S. banks
U.S. liquid liabilities to private foreigners
3
-32
17
-15
-1
U.S. Government nonliquid liabilities to other than foreign official reserve agencies.
C)
-103
Claims reported by U.S. banks:
Long-term..
Short-term, nonliquid
._
Short-term, liquid
~
Foreign capital flows, net
i
(*)
-798
-51
-383
-1,143
-1,961
3. Excludes exports of goods under U.S. military agency sales contracts identified in Census
export documents, and imports of goods included under direct defense expenditures identified
in Census import documents, and reflects various other balance-of-payments adjustments
(for valuation, coverage, and timing) to Census statistics; see table 4.
4. Excludes reinvested earnings of foreign incorporated affiliates of U.S. firms or of U.b.
incorporated affiliates of foreign firms.
5. Includes sales of foreign obligations to foreigners.
6. Line 48 excludes all military cash receipts from Belgium-Luxembourg, France and
SURVEY OF CURRENT BUSINESS
June 1973
51
Selected Countries (published annually)
of dollars]
Germany
Netherlands
Italy
Mexico
Line
1970
1969
1972 v
1971
1969
1970
1972 v
1971
1969
1970
1972 v
1971
1969
1970
1971
1972 v
2,991
3,911
4,221
4,115
1,613
1,801
1,755
1,907
1,671
1,928
2,124
2,055
2,351
2,655
2,602
3,002
1
2,006
292
55
33
121
50
26
9
2,651
194
67
37
139
62
30
12
2,559
589
79
40
153
61
36
11
2,744
212
93
42
165
64
48
14
1,233
68
24
16
63
34
16
4
1,348
48
29
18
76
34
25
5
1,294
55
33
19
83
33
30
4
1,416
36
40
21
88
39
40
4
1,404
9
14
8
98
9
22
4
1,589
10
19
9
129
10
22
4
1,698
11
22
10
135
15
19
4
1,452
1,687
15
(*)
23 [ 530
11
146
20
13
12
32
37
5
4
1,706
(*)
545
22
14
39
5
1,620
(*)
565
25
13
38
3
1,085
32
13
41
3
2
3
4
5
6
7
8
9
112
238
37
12
132
516
43
28
158
471
43
21
183
496
51
3
74
45
25
11
86
58
35
39
100
65
24
15
103
80
26
14
43
31
24
5
50
37
48
1
53
110
46
1
67
91
145
21
74
123
120
21
72
88
134
19
10
11
12
13
66
19
36
2
65
74
136
21
615}
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.
14
-4,399
-5,270
-6,219
-7,378
-1,718
-1,880
-2,052
-2,453
-868
-993
-1,072
-1,256
-1,879
-2,135
-2,244
-2,734
15
-2,628
-948
-114
-90
-190
-24
-14
-18
-3,156
-1,080
-148
-102
-211
-25
-20
-23
-3,680
-1,265
-126
-107
-237
-29
-22
-24
-4,302
-1,379
-163
-125
-294
-22
-26
-27
-1,211
-122
-140
-74
-63
-5
-15
-10
-1,326
-108
-172
-85
-77
-5
-18
-10
-1,416
-117
-178
-94
-87
-5
-21
-11
-1,762
-130
-215
-110
-100
-5
-22
-10
-475
-44
-41
-86
-56
-4
-1
-3
-530
-44
-44
-97
-60
-5
-1
-3
-565
-53
-44
-100
-66
-3
-1
-3
-1,223
-685
-1,030
-1
-1
-52
-57 [ -692 -740
-110
-8
-80
-8
(*)
-4
(*)
-94
-1
-85
-4
-10
-10
-1,262
-1
-832
-9
(*)
-100
-11
-1,632
-1
16
17
18
19
20
21
22
23
-6
-10
-153
-204
-6
-13
-175
-311
-6
-19
-150
-554
-9
-25
-149
-857
-1
-3
-40
-34
-57
-61
-1
-5
-57
-36
6
-101
-55
-8
5
-96
-101
-17
4
-97
-133
-11
5
-103
-135
-30
(*)
-52
-22
8
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
109
118
140
212
-104
-106
-114
-116
-7
-10
-10
-11
-72
-44
-2
-5
-1
-2
-8
1
-3
-7
-3
1
—2
-1
(*)
(•)
8
-950J
-12
(*)
-103
-10
24
25
26
27
-5
-57
-28
-1
n.a.
n.a.
n.a.
-25
-1
n.a.
-81
-85
-74
-80
29
-3
-8
-37
-61
-1
-22
-62
(*)
-29
-45
(*)
-35
-45
30
31
32
-17
2
18
9
33
—39
2
—62
(*)
—57
(*)
-31
1
-34
34
35
45
(*)
59
48
43
(*)
36
37
28
-33
142
3
-37
155
114
-43
183
43
-22
234
-53
-49
(*)
-65
-49
28
-213
14
8
13
-5
2
6
-10
-28
-15
26
-124
12
-58
6
-64
1
-40
-2
8
7
99
8
73
10
7
30
-131
66
71
'55
-153
-254
-600
-688
-208
-34
-380
-150
-51
-383
-82
79
123
-135
-92
-452
38
-238
86
-247
-27
-488
-7
-658
32
-109
18
-101
22
-331
13
-43
33
-122
76
-139
66
-92
82
-79
193
-93
-35
-92
(*)
-48
-19
-51
-90
39
40
-4
-43
10
1
-6
25
-67
-19
-30
2
-59
-27
11
-21
6
-1
21
-2
-28
-53
-5
-16
-94
-1
-1
-14
2
-6
-1
-9
4
-41
-3
-7
-12
9
115
129
18
53
-120
14
-5
-15
-12
-10
-251
-17
41
42
43
18
-44
62
-4
-1
5
-4
-12
21
14
8
-98
-25
10
48
-16
-8
6 667
-15
-21
7
6 -480
-1
-5
14
-301
10
-3
-21
-15
4
-10
-15
(*)
-9
-2
(*)
6 610
6 962
6 -246
6 1,656
-134
2
-35
(*)
122
44
45
46
«-128
38
-13
2
«653
6-32
6 -6
6-7
6-10
6-13
-2
C)
C)
48
(*)
49
50
51
52
53
54
(*)
-1
(*)
(*)
17
8
-1
37
5,922
4,069
4,660
273
-11
-332
-134
« -55
8 65
6 -51
204
562
276
50
48
273
-49
-77
50
292
-44
-23
-25
227
-196
31
-2
65
72
6
2
95
27
-2
13
83
41
25
9
112
-48
28
125
16.5
11
128
107
202
64
295
-4
278
121
-139
19
422
78
-47
(*)
15
5
4
-5
4
-1,577
6,248
4,130
4,752
-102
577
558
-549
187
301
-492
1,197
-221
-59
249
—510
—4
5
—112
—111
—2
—378
22
—2
—5
—56
134
-500
-199
(*)
-45
C)
(*)
-9
8
-125
5
114
47
55
56
57
(*)
(*)
76
50
25
50
25
58
25
—20
59
25
an
122
22
-2
-5
-132
134
(*)
(*)
61
62
-20
(*)
63
1,790
-4,563
-1,652
-944
814
-582
116
1,279
Netherlands and partially excludes such receipts from Italy because these data are not available by country.
NOTE.—Country data are based on information available from U.S. reporting sources.
In some instances the statistics may not necessarily reflect the ultimate foreign transactor.
For instance: U.S. export statistics reflect country of reported destination; in many cases the
exports may be transshipped to third countries (especially true for the Netherlands and
Germany). The geographic breakdown of security transactions reflects country with which
-1,354
-1,555
-736
-2,466
-298
-282
-76
133
64
transaction occurred but may not necessarily reflect the ultimate sources of foreign funds or
ultimate destination of U.S. funds.
Data for individual countries within EEC (6) may not add to the published totals for
EEC (6) since in several instances the transactions are regional and in other instances estimates for the group are not available for each country. In addition, country data may not
add to EEC (6) totals because of rounding.
Source: U.S. Department of Commerce, Bureau of Economic Analysis.
SURVEY OF CURRENT BUSINESS
52
June 1973
Table 10.—Summary of Known Current and Long-Term Capital Transactions, by Area 1
[Millions of dollars]
1969
Keceipts by foreign areas ( - )
Line
1970
1971
1972
1972
II
All areas, balances on) 2
Merchandise trade
Goods and services
Goods, services and remittances
Current account
Current account and long-term capital 3_
1,891
594
-1,050
-3,046
2,176
3,630
2,150
416
-3,037
-2,698
807
-745
- 2 , 790
- 9 , 550
-6,912
-4,609
-6,179
-8,353
-9,842
-1,566
-880
-1,248
- 1 , 853
-3,824
1973
III
-1,746
-1,489
-1,873
-2,471
-2,310
-2,126
-2,409
-2,796
-3,333
-4,052
IV
-1,474
168
343
European Economic Community
(9) balances on:
Merchandise trade 2
Goods and services—
Goods, services and remittances
Current account
Current account and long-term capital 3
256
-286
-300
-300
-550
United Kingdom, balances
on:
Merchandise trade 2
Goods and services
Goods, services and remittances
Current account
Current account and long-term capital 3 . .
European Economic Community (6), balances on:
Merchandise trade 2._
-Goods and services...
Goods, services and remittances
Current account
Current account and long-term capital 3
Other Western Europe,2 balances on: 6
Merchandise trade
Goods and services
Goods, services and remittances
Current account
Current account and long-term capital 3
--
-42
-712
-758
-758
-1,065
329
-431
-484
-484
196
-70
-716
-778
-778
-216
-964
-1,019
-1,019
541
-14
-215
-231
-231
-109
-140
-409
-421
-421
129
16
-255
-269
-78
-87
-101
-101
603
-28
-70
-85
-85
51
-129
-174
-174
1,596
1,644
453
409
409
459
412
-751
-787
-787
-1,354
-459
-2,678
-2, 643
-2, 643
-2,280
-130
-541
-531
-531
-749
-92
-722
-715
-715
-317
-1,027
-1,002
-1,002
-1,388
80
-388
-395
-395
539
293
-191
-183
-183
-555
478
-51
-263
-298
445
913
47
-170
-199
145
436
-356
-609
-637
-90
16
-1,136
-1,411
-1,351
-121
-5
-20S
-272
-286
-300
21
-373
-443
-460
-104
-33
-432
-500
-514
-247
33
-124
-197
—92
530
200
-25
-90
21
256
150
158
137
128
132
184
194
174
170
167
494
496
471
471
373
136
124
117
117
42
210
217
211
211
182
351
364
358
358
138
-812
111
44
44
-1,369
-1,645
-476
-580
-580
-1,631
-1,735
-292
-420
-420
-1,004
1,897
-298
-418
-418
1,612
-540
-55
-78
-78
-475
-207
-86
-126
-126
-428
-673
-96
-128
-128
-448
-619
-43
-50
-50
(*)
324
1,778
1,533
1,312
402
603
1,952
1,682
1,420
187
330
1,843
1,571
1,302
59
173
1,341
1,054
821
-502
-144
54
-20
-77
-284
393
326
254
92
372
299
239
-122
157
523
451
409
-237
-4
-1,416
-1,738
-1,777
-1,777
-2,132
-1,244
-1,497
-1,541
-1,541
-1,579
-3,209
-3, 413
-3,461
-3,461
-4,317
-4,101
-4,741
-4,784
-878
-4, 782
-4,340
-1,589
-1,046
-1,208
-1,217
-1,215
-965
-1,240
-1,405
-1,418
-1,418
-1,017
-937
-1,145
-1,156
-1,156
-773
-432
-544
-554
-554
-218
296
791
769
769
763
465
1,135
1,112
1,112
779
555
1,128
1,104
1,104
662
140
744
720
720
438
122
266
261
261
159
-15
128
122
122
45
-18
110
103
103
6
51
239
233
233
226
131
325
319
319
368
745
1,842
1,238
-12
-1,711
961
2,435
1,730
451
-1,382
2,969
2,257
703
-2,031
1,062
2,539
1,761
38
1,957
-68
708
528
49
-430
-122
764
190
-597
-555
283
90
-303
-572
-317
782
571
100
-359
-207
890
717
313
-448
-70
-70
-204
-108
-147
-147
-302
-461
201
201
13
-922
90
90
-187
-409
-4
-4
-59
-145
-60
-60
-192
39
-93
-157
-248
247
247
220
-58
-4
-4
-52
-323
Eastern Europe, balances
on:
Merchandise trade 2
Goods and services
Goods, services and remittances
Current account
Current account and long-term capital 3 .
Canada, balances on: 2
Merchandise trade
Goods and services
Goods, services and remittances
Current account
Current account and long-term capital 3
40
Latin American Republics and Other Western Hemisphere, balances on:
M erchandise trade 2
Goods and services
Goods, services and remittances
Current account
Current account and long-term capital 3
Japan, balances o n : 7 2
Merchandise trade
Goods and services
Goods, services and remittances
Current account
Current account and long-term capital 3
Australia, New Zealand,
and South Africa, balances on:
Merchandise trade 2
Goods and services
Goods, services and remittances
Current account
Current account and long-term capital 3
Other countries in Asia 2and Africa, balances on: i
Merchandise trade
Goods and services
Goods, services and remittances
Current account
Current account and long-term capital 3
International organizations
and unallocated, balances on:
Merchandise trade 2
Goods and services
Goods, services and remittances
Current account
Current account and long-term capital 3
p Preliminary.
1. Balance of payments by area on the net liquidity basis and the official reserve transactions basis lack validity because liquid dollar holdings of private and official foreigners may
be affected not only by their transactions with the United States but also by transactions
among themselves. The balances shown by area here have some shortcomings due to statistical discrepancies including errors, omissions, and incorrect area attributions.
Balances are derived from lines in table 2 (all areas) and table 9 (individual areas) as follows;
Merchandise trade
2, 16
Goods and services
1,15
Goods, services and remittances
1, 15, 31, 32
Current account
1, 15, 29
Current account and long-term capital
1,15, 29, 33, 39-41, 44, 48, 49-51, 53 (by area
only part of line 53 is included)
The balance on current account and long-term capital with "all areas" includes changes in
long-term liabilities to all private foreigners reported by U.S. banks: with "international
organizations" includes only liabilities to IBRD and affiliated organizations: and with other
areas includes only liabilities to regional organizations. Increases in the long-term liabilities
to other private foreigners included in the total, but not in the areas, amounted to (millions
-557
673
299
-81
-1,094
-477
-62
-259
-136
-341
of dollars): 1969 year, 48; 1970 year, 123; 1971 year, <5; 1972 year, 33; 1972-1, 17; 1972-11, 19;
1972-III, 7; 1972-IV, -10; 1973-1, 21.
2. Adjusted to balance of payments basis; excludes exports under U.S. military agency
sales contracts and imports under direct defense expenditures.
3. Includes some short-term U.S. Government assets; area data exclude long-term liabilities
reported by U.S. banks other than to international organizations (see footnote 1).
4. The "European Economic Community (9)" includes the "European Economic Community (6)," the United Kingdom, Denmark, and Ireland.
5. The "European Economic Community (6)" inclndes Belgium, France, Germany, Italy,
Luxembourg, and the Netherlands.
6. "Other Western Europe" excludes the United Kingdom and the "EEC (6)" through
the fourth quarter of 1972. Beginning in the first quarter of 1973 "Other Western Europe"
excludes the " E E C (9)."
7. Transactions with the Ryukyu Islands that were under U.S. military administration
from the end of World War II until May 15, 1972 are included with Japan beginning in the
first quarter 1972; in previous periods they are included with "other countries in Asia and
Africa."
NOTE.—Details may not add to totals because of rounding.
Source: U.S. Department of Commerce, Bureau of Economic Analysis.
SUEVEY OF CURRENT BUSINESS
June 1973
Table 10a.—Summary of Known Current and Long-term Capital Transactions, by
Selected Countries * (published annually)
[Millions of dollars]
Line
1
2
3
4
5
6
7
g
9
10
11
12
13
14
15
16
17
18
19
20
[Receipts by foreign areas (-)]
Belgium-Luxembourg, balances on:
Merchandise trade 2 _
_
Goods and services
Goods services and remittances
Current account
Current account and long-term capital 3
_
France, balances on:
Merchandise trade 2
Goods and services . .
Goods services and remittances
Current account
Current account and long-term capital 3
22
23
24
25
Netherlands, balances on:
Merchandise trade 2
Goods and services .
Goods, services and remittances
Current account
__
Current account and long-term capital 3
26
27
28
29
30
Mexico, balances on:
Merchandise trade 2 _.
Goods and services
Goods, services and remittances
Current account
Current account and long-term capital 3
21
_
491
489
480
480
441
212
249
240
240
212
177
179
170
170
52
386
338
303
303
516
596
475
438
438
330
310
239
197
197
-13
259
146
105
105
715
-622
— 1,408
-1,299
-1,299
-119
-505
-1,359
-1,241
-1,241
-1,143
-1,121
-1,998
-1,858
-1,858
- 2 , 415
-1,558
-3,263
-3,051
- 3 , 051
- 3 , 761
22
-105
-209
—209
-520
22
-79
-185
— 185
-24
-122
-297
-411
—411
-615
-346
-546
-662
-632
-649
929
803
796
796
1,042
1 059
935
925
925
912
1,133
1,052
1,042
1,042
1,397
1,002
799
788
788
1,354
422
472
391
391
379
483
520
436
435
425
358
358
284
284
221
353
268
188
188
51
- .
.
-
. .
.... -
.
.
...
. . . .
1972*
1971
261
253
245
245
616
-
Germany, balances on:
Merchandise trade 2
Goods and services
.
Goods services and remittances
Current account
Current account and long-term capital 3
Italy, balances on:
Merchandise trade 2
Goods and services. .
Goods, services and remittances.
Current account
Current account and long-term capital 3
1970
1969
. . . .
NOTE.—Balances are derived from data in table 9a. For footnotes see table 10.
Source: U.S. Department of Commerce, Bureau of Economic Analysis.
53
the components, new issues of securities
sold abroad by U.S. corporations declined $0.2 billion to $0.4 billion, as
these bonds lost favor in the latter part
of the quarter, but other long- and
short-term borrowing rose by an equal
amount.
U.S. corporate claims other than
direct investment increased $0.4 billion
in the first quarter, about the same as in
the previous quarter. Short-term liquid
claims rose $0.4 billion compared with
virtually no increase in the fourth
quarter. Most of the first quarter increase was related to transactions with
Canada and the United Kingdom; in
the latter case, the increase may have
reflected the widening short-term interest rate differential in favor of
European deposits. Based on preliminary and incomplete data, short-term
nonliquid claims fell $0.2 billion in the
first quarter, a favorable shift of $0.4
billion, offsetting the adverse swing in
short-term liquid claims. However, it
should be noted that this figure, as in
previous quarters, may be subject to
substantial revision.
Technical Notes
Revisions
(Continued from page 23)
into the first quarter. On the other hand,
there was some easing of the program
tributed to the unfavorable shift in
announced early in 1973 which may
direct investment outflows in the first
have had some offsetting influence.
quarter was anticipation of the proThe increase in direct investment
liferating controls on incoming capital
outflows
in the first quarter may also
that were instituted by European
have
reflected
the fact that, according
countries by the end of the quarter. U.S.
to
the
results
of BEA's most recent
parent companies may have made insurvey (published in the March issue of
vestments early in the first quarter
the Survey), U.S.-owned foreign affiliwhich otherwise might not have been
ates expect to increase their plant and
made until later in the year.
equipment spending abroad by 9 percent
In recent years, direct investment this year. Although this is a rather
outflows have generally been high in the modest increase, it is substantially
first quarter compared to other quar- larger than the 2-percent increase in
ters, even after seasonal adjustment. 1972. It may imply the need for addiThis may have reflected the reversal of tional U.S. parent company funds to
yearend positioning necessary for com- finance the expansion, particularly in
pliance with the OFDI program. One light of high borrowing costs abroad.
might have expected, however, that
The net flow on U.S. corporate liasuch an influence would have been bilities and claims other than direct
milder this year b}^ virtue of the easing investments was virtually unchanged
of regulations in December 1971 which in the first quarter. Total corporate
permitted companies to shift the posi- borrowing was the same, at $0.8 biltioning date from the end of the year lion, as in the fourth quarter. Among
As is customary each June, 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:. Using the revised data, seasonal adjustments
for most accounts were recalculated by extending through
1972 the period used for deriving adjustment factors. Data
and seasonal adjustments for 1971 and 1972 were subject to
the most revision.
Merchandise trade data were adjusted to include transfers
(exports or imports) of ships that are not recorded in Bureau
of the Census foreign trade statistics, and to exclude natural
gas in transit through the United States from western to
eastern Canada, which had been included in Bureau of the
Census trade data through 1972.
Geographic detail
In addition to the usual data on U.S. international transactions with geographic areas (tables 9 and 10), data on
transactions with Belgium-Luxembourg, France, Germany,
Italy, Netherlands, and Mexico for the years 1969-72 are
shown in tables 9A and 10A. Data for the years 1968-71 were
published for the first time in the June 1972 SURVEY article.
U.S.-Canadian current account reconciliation
Reconciliation of the 1970 bilateral current account in the
balance of payments statistics of the United States and
Canada was completed in the spring of 1973. On the basis of
the conceptual framework established for the study, the
results indicate a 1970 current account deficit for the United
States of $0.1 billion in contrast to the U.S. deficit of $0.6
billion published by the United States and the Canadian
deficit of $0.2 billion published by Canada. If work now
underway for later years confirms the patterns of 1970,
revisions based on the reconciliation may be incorporated in
the regularly published balance of payments series of the
United States.
SURVEY OF CURRENT BUSINESS
54
June 1973
Table 1.—U.S. Balance of Payments Summary, 1948-59, Annually
[Millions of dollars]
Reference
lines
(table 2)
(Credits +; debits - )
Line
1948
1949
1950
1951
1952
1,122
5,339
5,708
3,067
2,611
13, 265 12, 213 10,203 14,243 13,449
-7,557
-6,874 -9,081 -11,176 -10,838
16
Merchandise trade balance i_
Exports
_._
Imports
3,17
Military transactions, net.
4,5, 6,18,
19,20
Travel and transportation, net.
2
Investment income, net
U. S. direct investment abroad
Other U.S. investment abroad
Foreign investments in the United States-
10,11
12.13
24, 25, 26,
27
7,8,9, 21,
22,23
Other services, net
BALANCE O N GOODS AND SERVICES 3
31,32
Remittances, pensions and other transfers
BALANCE O N GOODS, SERVICES AND REMITTANCES.
U.S. Government grants (excluding military)
374
1,262
1,277
276
-291
6 -621 6-576 >—1,270 -2,054
230
1,273
1,332
283
-342
1,720
1,764
390
-434
1,675
1,711
409
-445
41
-2,460
-269
2,112
2,053
502
-443
2,897 4,753
14, 424 17,556
-11,527 -12,803
-2,701 -2,788
-297
-361
2,297
2,285
532
-520
-43
2,494
2,609
491
-606
47
1957
1958
1959
6,271
3,462
19,562 16,414
-13, 291 -12,952
-2,841 -3,135
1,148
16,458
-15,310
-2,805
-189
2,588
2,695
568
-675
2,584
2,563
724
-703
72
78
-821
2,726
2,771
815
-860
6,218
1,892
3,817
2,356
532
1,
2,153
4,145
5,901
2,356
310
-631
-641
-533
-480
-571
-644
-633
-597
-690
-729
-745
-815
5,887
5,577
1,359
3,337
1,785
-112
1,326
1,556
3,455
5,172
1,611
-505
- 4 , 997 -3,484
-3,035
580 -2,125
302
24
-1,960 - 1 ,
62
-1,647 -1,901 -1,733 -1,616 -1,616 -1,633
-175 -1,949
-321
-345
1,722
3,556
-5
-2,138
[ -787
-652
-156
-156
-420
-218
93
n.s.s.
n.a.
-721
34
-95
-192
n.s.s.
-23
n.s.s.
n.a.
-660
56
27
74
n.s.s.
-89
n.s.s.
n.a.
-621
80
-275
-7
n.s.s.
-48
n.s.s.
n.a.
-508
90
-353
126
n.s.s.
-81
n.s.s.
n.a.
-85!
132
-87
37
n.s.s.
-95
n.s.s.
n.a.
-735
158
91
70
n.s.s.
-21
n.s.s.
n.a.
-667
124
-206
141
n.s.s.
-4
n.s.s.
n.s.s. n.s.s.
n.s.s.
n.s.s.
n.a.
n.a.
n.a.
n.a.
n.a.
- 8 2 3 -1,951 -2,442 -1,181 -1,372
197
23"
155
98
238
20
-421
-470 -1,250
-668
181
323
237
449
(*)
n.s.s.
n.s.s. n.s.s.
n.s.s.
n.s.s.
-23
24
-42
-54
-59
158
188
3
-33
75
46
-7
n.a
-227
-224
-38
35
n.a.
-41
n.a.
-131
-132
25
-24
n.a.
-556
-406
-125
-25
n.a.
-328
-191
-58
-79
n.a
n.a.
n.a.
58
29
29
n.s.s.
410
n.s.s.
n.s.s.
n.a.
24
13
11
n.s.s.
428
n.s.s.
n.s.s.
n.a.
-1,024
37
-310
-629
-971
[
BALANCE O N CURRENT ACCOUNT AND LONG-TERM
CAPITALS
-Nonliquid short-term private capital
flows, n e t 7
Claims reported b y U.S. banks 7
Claims reported b y U.S. nonbanking concerns 7 _ . .
Liabilities reported b y U.S. nonbanking concerns..
1,732
1,747
468
-483
2,576
12,929
-10,353
1956
6,518
1,993
39
48
40
49
41,52
44,50
-238
1955
-3
34,35,36
55
-10,975
-2,423
-120
1,460
1,540
299
-379
1,437
12, 412
1954
-27
-3,g
BALANCE ON CURRENT A C C O U N T S . .
U.S. Government
capital flows excluding nonscheduled repayments, net 5
Nonscheduled repayments of U.S. Government assets
U.S. Government nonliquid liabilities to other than foreignofficial reserve agencies
Long-term private capital flows, net
U.S. direct investment abroad
Foreign direct investment in the United States
Foreign securities
U.S. securities other than Treasury issues
Other, reported by U.S. banks..
Other, reported by U.S. nonbanking concerns
« -799
1953
183
168
29
-14
-479
-399
-142
62
n.a.
-174
-255
-13
94
390
1,012
n.a.
n.a.
-145
-302
51
106
434
n.a.
-89
-60
-41
12
4
Allocations of special drawing rights (SDR) _
1,115
Errors and omissions, net
717
-124
354
49'
220
n.a.
n.i
n.a.
n.a.
n.a.
n.a.
-188
-158
-30
n.s.s.
n.s.s.
n.s.s.
n.s.s.
n.a.
159
149
10
n.s.s.
498
n.s.s.
n.s.s.
n.a.
-9
-4
n.s.s.
n.s.s.
n.s.s.
n.s.s.
n.a.
-4
-6
2
n.s.s.
n.s.s.
n.s.s.
n.s.s.
n.a.
-30
-22
-8
n.s.s
-59
n.s.s.
n.s.s,
n.a.
n.a.
-104
-82
-22
n.s.s.
1
n.s.s.
n.s.s.
n.a
n.a
n.a
n.a.
n.a,
n.s
NET LIQUIDITY BALANCE
Liquid private capital flows, n e t 7
Liquid claims 7__
Reported b y U.S. banks 7__
Reported b y U.S. nonbanking concerns 7
Liquid liabilities
To foreign commercial banks
To international and regional organizations
To other foreigners
Official reserve transactions balance
46
n.s.s,
n.s.s.
371
361
260
n.a.
n.a.
n.a.
-8
-1
-7
n.s.s.
60
n.s.s.
n.s.s.
n.a.
-60
-49
-11
n.s.s.
48
n.s.s.
n.s.s.
n.a.
24
3
21
n.s.s.
1,158
n.s.s.
n.s.s.
n.a.
n.a.
n.a.
n.a.
n.s.s.
n.s.s.
n.s.s.
n.s.s.
n.s.s.
n.s.s.
Financed by changes in:
Liquid liabilities to foreign official agencies
Other readily marketable liabilities to foreign official agencies 6 .
Nonliquid liabilities to foreign official reserve agencies reported
by U.S. G o v e r n m e n t . .
55
56
n.s.s.
n.s.s.
n.s.s.
n.s.s.
n.s.s.
n.s.s.
n.s.s
n.s.s.
n.s.s
n.s.s
n.s.s,
n.s.s.
n.s.s,
n.s.s.
n.s.s,
n.s.s,
n.s.s.
n.s.s.
57
n.s.s.
n.s.s.
n.s.s.
n.s.s.
n.s.s
n.s.s
n.s.s,
n.s.s
n.s.s.
n.s.s.
n.s.s.
n.s.s.
U.S. official reserve assets, n e t
58 -1,736
-266
1,758
-33
-415
1,256
480
182
-869
-1,165
2,292
1,035
448
211
520
1,439
2,582
4,176
3,362
2,588
2,567
2,418
2,286
1,974
581
436
475
751
923
826
702
1,175
1,363
945
1,089
157
817
143
190
136 -3,489
Memoranda:
Transfers under military grant programs (excluded from lines 2,
14, 28
4, and 14)
Reinvested earnings of foreign incorporated affiliates of U.S.
firms (excluded from lines 7 and 20)
Reinvested earnings of U.S. incorporated affiliates of foreign
firms (excluded from lines 9 and 21)
Liquidity balance, excluding allocations of S D R
54,55,58,63
n.a. Not available.
N.s.s. Not shown separately.
1. Adjusted to balance of payments basis; excludes exports under U.S. military agency
sales contracts and imports of U.S. military agencies.
2. Includes fees and royalties from U.S. direct investments abroad or from foreign direct
investments in the United States.
3. Equal to net exports of goods and services in national income and product accounts of
the United States.
4. The sum of lines 15 and 31 is equal to "net foreign investment" in the national income
and product accounts of the United States.
169
134
162
163
187
- 8 -1,206 -2,184 -1,541 -1,242
167
-923
157
156
223
621 -3,348 -3,648
5. Includes some short-term U.S. Government assets.
6. Includes direct defense expenditures only.
7. Coverage of liquid banking and nonbanking claims is limited to foreign currency deposits only; other liquid items are not available separately and are included with nonliquid
claims.
NOTE.—Details m a y not add to totals because of rounding.
Source: U.S. Department of Commerce, Bureau of Economic Analysis.
SURVEY OF CURRENT BUSINESS
June 1973
55
Table 2.—U.S. International Transactions, 1948-59, Annually
[Millions of dollars]
(Credits +; debits - ) i
1948
Exports of goods and services2
Merchandise, adjusted, excluding military3.
Transfers under U.S. military agency sales contracts
Travel
Passenger fares.Other transportation
Fees and royalties from unamliated foreigners
Other private services
U. S Government miscellaneous services
Receipts of income on U.S. investments abroad:
Direct investment fees and royalties
Direct investment interest, dividends and branch earnings 4
Other private assets
.U.S. Government assets
Transfers of goods and services under U.S. military grant programs, net
Imports of goods and services
-Merchandise, adjusted, excluding military 3_
.Direct defense expenditures
_
Travel
Passenger fares
_
_
Other transportation
Fees and royalties to unaffiliated foreigners
Private payments for other services
U.S. Government payments for miscellaneous services
Payments of income on foreign investments in the United States:
Direct investment fees and royalties
_
Direct investment interest, dividends and branch earnings 4
Other private liabilities
U.S. Government liabilities
1949
1950
1951
1952
1953
1954
18,864
18,122
17,078
17,889
19,948
23,772
23,217
23,652
14,243
13,449
392
89
1,149
244
132
419
88
945
267
132
473
91
1,465
286
152
550
112
1,376
206
12,412
192
574
107
1,091
314
173
12,929
182
595
111
1,060
307
150
14,424
200
654
120
1,286
324
123
17,556 19, 562 16,414
300
161
375
825
705
785
156
126
148
1,491
1,819
1,482
133
140
168
444
378
424
141
122
137
16,458
302
902
165
1,481
166
449
143
213
1,064
174
220
1,112
185
246
1,294
190
272
1,492
192
292
1,419
205
305
1,442
216
328
1,725
230
373
1,912
258
274
2,171
297
194
446
2,249
363
543
2,228
466
349
2,588
2,567
n.s.s.
102
211
448
n.s.s.
n.s.s.
n.s.s.
109
198
2G4
252
272
520
1,439
2,582
4,176
3,362
-12,001 -15,047 -15,766 -16,546 -15,930
-10,343
-11,527
- 7 , 557 - 6 , 8 7 4 - 9 , 0 8 1
6
2
1
- 5 7 6 -11,176 -10,838 -10,975 -10,353 - 2 , 9 0 1
-799
-700
- 7 5 4 - 1 , 2 7 0 - 2 , 0 5 4 - 2 . 615 - 2 , 642 - 1 , 1 5 3
-631
-757
-107
-147
-79
-840
- 9 2 9 -1,009
-206
-133
-186
-567
-593
-671
-181
-175
-998
-900
8
4
1
-840
9
4
0
1
4
4
1
4
3
-208
-273
-223
1
8
2
-235
-197
-235
-250
-211
-217
-240
-254
-222
-277
-23
-177
-184
-448
-211
-520
-1,439
-2,582
-4,176
-3,362
-4,525
-5,638
-4,017
-3,515
-2,531
-2,481
-2,280
-3,894 -4,997
-109
66
-532
-697
-652
-1,024
-684
-173
-1,555
-3,484
-79
-454
-3,035
-71
-1,960
-128
-443
-1,837
-141
-503
-414
-37
443
205
U.S. private capital flows, net..
-906
Direct investments abroad 4.
Foreign securities
-721
-95
Claims reported by U.S. nonbanking concerns:
Long-term
Short-term, nonliquid5
.
Short-term, liquids
Foreign capital flows, net
K__
.
_
442
2,121
417
205
307
2,418
2,286
-17,795 -19,627
-9,616
-22
-196
-179
Claims reported by U.S. banks:
Long-term
Short-term, nonliquid 5
Short-term, liquid *
26,653
13,893
10,203
-24
-183
-174
-64
Loans and other long-term assets
Foreign currencies and other short-term assets, net.
Repayments on credits:
Scheduled
Nonscheduled
1959
15,834
-20
-188
-179
-47
U.S. Government capital flows, net
1958
12,213
-10
-172
-166
-31
U.S. Government grants (excluding military)
U.S. Government pensions and other transfers
Private remittances and other transfers
1957
16,861
-9
-164
-144
-25
Unilateral transfers (excluding military grants), n e t . . .
1956
13,265
n.s.s.
334
99
1,218
292
100
-11
-105
-158
-17
U.S. military grants of goods and services, net
1955
-409
-31
-179
-216
-94
-2,588
-2,498
- 1 , 647 - 1 , 9 0 1
-141
-129
-456
-504
-20,752 -20,861
-12,803
-12,952
- 2 , 9 4 9 -13,291
-1,275 -3,216 -3,435
-1,460
1
,
3
7
2
-241
-323
-264
-1,167
-1,313
1
,
3
0
5
-23
-25
-22
-328
-368
-326
-235
-282
-281
-38
-178
-236
-154
-36
-188
-250
-201
1,974
-23,342
-15,310
-3,107
-1,610
-388
-1,371
-28
-367
-301
-34
-211
-319
-139
-32
-218
-329
-281
-2,567
-2,418
-2,286
-1,974
-2,423
-2,345
-2,361
-2,448
-1,733
-135
-555
-1,616
-159
-570
-1,616
-182
-563
-1,633
-219
-599
-420
-218
93
-310
-629
-958
-971
-353
-458
-847
-2
-716
11
-306
-108
-383
-343
-545
-563
-993
-624
-1,176
-339
-1,051
-356
295
305
429
487
507
416
479
659
544
-553
-1,265
-1,048
-1,160
-383 - 1 , 6 2 2
-1,255
-3,071
-3,577
-2,936
-2,375
-660
27
-621
-275
-508
-353
-852
-87
-667
-206
-823 -1,951
20
-421
-2,442
-470
-1,181
-1,250
-1,372
-668
39
-132
-3
-29
188
-6
-177
46
-158
-14
-224
149
-36
-83
-4
115
16S
-22
-102
-406
-82
-226
-191
29
-166
-399
13
-34fl
-255
-1
-302
-49
-181
-60
3
-13
25
-78
3
2
-43
-7
-30
-70
-38
10
-91
-21
29
-8
-12
-125
-22
-35
-58
29
-16
-14:
11
-40
-13
-42
51
-11
-77
-41
21
558
174
1,912
581
1,673
1,074
1,310
1,357
2,457
1,132
1,259
3,571
34
-192
-10
-24
56
74
-11
-33
• (•
80
-7
-5
36
90
126
-11
35
132
37
4
44
61
158
70
(*)
-14
124
141
8
-25
61
19'
181
12
-79
232
323
40
62
155
237
-156
-156
.
620
434
U.S. Government nonliquid liabilities to other than foreign official reserve
agencies
Other foreign private capital:
Direct investments in the United States 4
U.S. securities other than Treasury issues
Other long-term, reported by U.S. nonbanking concerns.
Short-term, reported by U.S. nonbanking concerns
Long-term, reported by U.S. banks
U.S. liquid liabilities to private foreigners
U.S. liquid liabilities to foreign official agencies
Other readily marketable liabilities to foreign official agencies
Nonliquid liabilities to foreign official reserve agencies reported by U.S.
Government
Transactions in U.S. official reserve assets, net.
Gold.
SDR...
Convertible currencies
Gold tranche position in IMF
___"""'_
6-4
6(*)
6(*)
919
130
1,731
1,621
928
6-165
6-42
677
6 300 6-158
6-68
1,061
(
1,060
6-14
6(*)
6 —2
1,792
6 10
6 95
6-8
238
449
23
12
6 -1
1,056
2,613
98
-17
106
6 24
6 237
-869 -1,165
2,292
1,035
-798
2,275
1,075
17
-40
361
260
-1,736
-266
1,758
-33
-415
1,256
480
182
-1,530
-164
1,743
-53
-379
1,161
298
41
-306
-206
-102
15
20
-36
95
182
141
-563
11,115
717
-124
354
220
60
371
390
Allocations of special drawing rights (SDR)
Errors and omissions, net..
n.s.s. Not shown separately.
*Less than $500,000(±).
1. Credits, + : Exports of goods and services; unilateral transfers to U.S.; capital inflows
(increase in U.S. liabilities or decrease in U.S. assets); decrease in U.S.
official reserve assets.
Debits, —: Imports of goods and services; unilateral transfers to foreigners; capital
outflows (decrease in U.S. liabilities or increase in U.S. assets); increase
in U.S. official reserve assets.
2. Excludes transfers of goods and services under U.S. military grant programs.
3. Excludes exports of goods under U.S. military agency sales contracts identified in Census
export documents, and imports of goods included under direct defense expenditures identified
in Census import documents, and reflects various other balance-of-payments adjustments
Digitized(for
forvaluation,
FRASERcoverage, and timing) to Census statistics.
1,012
4. Excludes reinvested earnings of foreign incorporated affiliates of U.S. firms or of U.S.
incorporated affiliates of foreign
firms.
,. #i , . . .
nrin,r J O
5. Coverage of liquid banking and nonbanking claims is limited to f ° r e f f i ? u r ^ n c y d . e "
posits only; other liquid items are not available separately and are included with nonliquia
C
eMBreakdown between official reserve agencies and other not available; total for lines 48
and 57 included in line 57; total for lines 53 and 56 included in line 53.
NOTE.—Details may not add to totals because of rounding.
Source: U.S. Department of Commerce, Bureau of Economic Analysis.
SUEVEY OF CUEBENT BUSINESS
56
(Continued from page 3)
billion estimated in January. The reduction, like that for fiscal 1974, is
entirely due to a higher receipts estimate. Individual income taxes, mainly
withholdmgs, are revised up about
$3% billion, corporate taxes are up
$2% billion, and all other receipts are
up about $1 billion. None of the revision of individual income taxes is in
refunds, as refunds are running very
close to the extremely high levels
projected in January.
The outlays projection for fiscal
1973, like that for fiscal 1974, is
unchanged from the January estimate
($249.8 billion), but there are some
changes in components. Veterans benefits and disaster loans are revised up,
while unemployment benefits and outlays by the Department of Health,
(Continued from page 16)
The net U.S. payment for all international transportation transactions
was $703 million in 1972, compared
with $474 million in 1971 (table 8), a
rise of 50 percent. The net deficit on
passenger fares increased 31 percent,
from $675 million to $886 million; the
net surplus on other transportation
transactions dropped from $201 million
to $183 million.
Payments
Of the $1.6 billion in passenger fares
paid to foreign sea and air carriers by
Americans in 1972, about $1.3 billion
was for air travel and the remainder
largely for cruise trips. Eegular transocean passenger service continued to
shrink, with further concentration of
shipping services on the cruise trade.
Total freight payments to foreign
sea and air operators moving U.S.
imports increased 14 percent to $2.0
billion in 1972. Higher rates and a small
increase in the volume of higher valued
cargo shipped on foreign carriers, as
well as a decline in import cargo
June 1973
Education, and Welfare are revised at $1.8 billion, down from the January
down.
estimate of $2.3 billion.
Full-employment surplus
N1A Federal sector
On a full-employment basis, the
No official OMB estimates of the
1974 unified budget is now expected to Federal sector of the national income
show a surplus of $5.3 billion, compared accounts (N1A) were released. Howto $0.3 billion estimated in Januaiy. ever, calculations by BEA, consistent
This change is due entirely to an upward with the new OMB estimates of
revision in full-employment receipts— unified budget outlays and with the
expressed in 1974 prices—largely be- new economic assumptions, show N1A
cause estimated full-employment GNP deficits in fiscal 1973 and 1974 that
was increased because of higher-than- are much smaller than the January
anticipated inflation. The revision also estimates (table 1). On the N1A basis,
incorporates higher effective tax rates 1973 receipts are $6.4 billion higher
based on ^recent experience. Full- than estimated in January, expenditures
employment outlays have not been are $1.4 billion lower, and the deficit
revised, which means that in real terms is $7.8 billion lower. For fiscal 1974,
there has been an effective downward N1A receipts are $10.3 billion higher
revision in projected full-employment than the January estimate, expenditures
outlays. For fiscal 1973, the full- are $0.8 billion higher, and the deficit
employment deficit is now estimated is $9.5 billion lower.
movements by U.S. carriers, accounted
for the rise.
American ocean carriers' port expenses abroad rose 8 percent to $313
million. A drop in the volume of export
and import tonnages carried by U.S.
operators was more than offset by
sharply rising costs in most areas. U.S.
air carriers' port expenses abroad,
primarily associated with transportation of passengers, rose 7 percent to
$621 million.
Receipts
U.S. receipts from ocean transportation last year were $2.5 billion, 8 percent
above 1971. The increase was largely
due to increased freight rates and to the
effects of the late-1971 dock strikes.
The total includes $0.8 billion from
carrying U.S. exports and some freight
between foreign countries, $1.6 billion
in foreign carriers' port expenses here,
and about $40 million from other
sources. While the amount of Americanoperated ocean tonnage has changed
little in recent years, average freight
rates, especially on liner services, have
continued to rise. Higher handling
charges continued to boost foreign
carrier's port expenditures here.
U.S. receipts from air transportation
and related services totaled $1.7 billion
in 1972, up 16 percent from 1971.
Earnings from airline passenger fares,
including $0.2 billion from carrying
foreigners between foreign destinations,
were $0.7 billion, up 11 percent.
Foreign airlines' port expenses in the
United States, mostly connected with
passenger traffic, rose 18 percent to
$0.7 billion. This increase reflected both
an increase in the number of air
travelers and higher operating costs for
services, advertising, and aircraft maintenance. Air freight on U.S. exports
and on shipments between foreign
points earned $235 million for U.S.
airlines in 1972, a 16-percent gain that
continued the steady uptrend in this
service.
Other transportation earnings, largely receipts from Canada and Mexico for
rail and pipeline transportation and
Great Lakes shipping, totaled $219
million, an increase of 11 percent.
U. S. GOVERNMENT PRINTING OFFICE : 1973 O - 505-385
CURRENT BUSINESS STATISTICS
JLHE STATISTICS here update series published in the 1971 edition of BUSINESS STATISTICS, biennial statistical supplement to the SURVEY
That volume (available from the Superintendent of Documents for $3.00) provides a description of each series, references
to sources of earlier figures, and historical data as follows: For all series, monthly or quarterly, 1967 through 1970 (1960-70 for major quarterly
series), annually, 1947-70; for selected series, monthly or quarterly, 1947-70 (where available). Series added or significantly revised after the 1971
BUSINESS STATISTICS went to press are indicated by an asterisk (*) and a dagger (f), respectively; certain revisions for 1970 issued too late for
inclusion in the 1971 volume appear in the monthly SURVEY beginning with the September 1971 issue. Also, unless otherwise noted, revised monthly
data for periods not shown herein corresponding to revised annual data are available upon request.
The sources of the data are given in the 1971 edition of BUSINESS STATISTICS; they appear in the main descriptive note for each series, and
are also listed alphabetically on pages 189-90. Statistics originating in Government agencies are not copyrighted and may be reprinted freely.
Data from private sources are provided through the courtesy of the compilers, and are subject to their copyrights.
OF CURRENT BUSINESS.
1971
1970
the 1971 edition of B U S I N E S S S T A T I S T I C S
1970
1972
Unless otherwise stated in footnotes below, data
through 1970 and descriptive notes are as shown in
I
II
1971
III
IV
Annual total
I
II
1972
III
| IV
II
I
1973
| III
IV
I
Seasonally adjusted quarterly totals at annual rates
GENERAL BUSINESS INDICATORS—Quarterly Series
NATIONAL INCOME AND PRODUCTf
Gross national product, totalf
Personal consumption expenditures, total
Durable goods, total 9
Automobiles and parts
Furniture and household equipment
Nondurable goods, total 9
Clothing and shoes
Food and beverages
Gasoline and oil
Services, total 9
Household operation
Housing
Transportation
1,023.4 1,043.0 1,056.9 1,078.1 1,109.1 1,139.4 1,164.0 1,194. 9 1,237.9
bil.$
976.4 1,050.4 1,151.8
958.0
971.7
986.3
989.7
do
616.8
664.9
721.0
604.1
613.4
623.0
626.5
648.0
660.4
670.7
680.5
696.1
713.4
728.6
745.7
773.6
do
do
do
do
do
do
do
90.5
37.3
39.0
103.5
46.7
42.0
116.1
52.8
47.6
90.2
37.8
38.7
91.6
39.2
38.8
92.6
39.4
38.8
87.5
33.0
39.6
99.8
44.9
41.0
101.9
45.4
41.4
106.1
48.8
41.9
106.1
47.9
43.5
111.0
49.9
46.5
113.9
51.3
46.8
318.6
54.8
47.9
120.8
55.2
49.1
130.4
60.1
53.0
264.4
52.0
132.1
22.2
278.1
56.9
136.4
23.5
299.5
62.0
144.7
25.2
257.8
51.1
128.0
21.8
262.4
51.8
131.2
22.0
266.3
51.7
133.9
22.3
271.3
53.6
135.2
22.8
273.4
55.1
135.1
23.0
277.2
56.7
135.9
23.0
278.5
57.4
136.6
23.5
283.4
58.5
137.9
24.3
288.3
59.4
140.3
24.6
297.2
61.5
144.1
24.5
302.0
62.6
145.8
25.4
310.4
64.5
148.5
26.3
322.6
68.3
154.3
27.1
do_.
do_.
do_.
do_.
261.8
36.3
90.9
18.2
283.3
39.5
99.2
19.9
305.4
43.3
107.2
21.7
256.1
35.3
88.7
17.7
259.4
35.9
90.1
18.0
264.1
36.9
91.4
18.5
267.7
37.2
93.4
18.8
274.8
38.0
95.8
19.3
281.3
39.1
98.1
19.8
286.1
40.0
100.3
20.2
290.9
40.7
102.5
20.4
296.7
41.2
104.2
21.0
302.4
42.7
106.1
21.5
308.0
44.0
108.1
21.9
314.5
45.1
110.2
22.4
320.6
45.7
112.4
23.0
do
137.1
152.0
180.4
132.9
137.7
139.9
137.8
143.9
153.0
152.2
158.8
168.1
177.0
183.2
193.4
199.7
do
do
do
do
do
do
do
do
132.2
100.9
36.0
64.9
31.2
30.7
4.9
4.8
148.3
105.8
38.4
67.4
42.6
42.0
3.6
2.4
174.5
120.6
42.2
78.3
54.0
53.2
5.9
5.6
131.4
100.2
35.5
64.8
31.2
30.6
1.5
1.4
131.4
101.7
36.1
65.6
29.7
29.4
6.3
6.2
133.7
103.4
36.2
67.2
30.3
29.9
6.2
6.1
132.1
98.5
36.3
62.1
33.6
33.0
5.7
5.6
139.0
101.9
37.6
64.3
37.0
36.6
4.9
3.9
146.4
105.0
38.3
66.7
41.4
40.9
6.6
5.1
150.9
106.3
38.7
67.6
44.5
43.9
1.3
-.2
157.2
109.8
38.8
71.0
47.3
46.7
1.7
.8
167.7
116.1
41.3
74.8
51.6
51.0
.4
.1
172.0
119.2
42.0
77.2
52.8
52.1
5.0
4.3
175.2
120.7
41.8
79.0
54.4
53.7
8.0
7.9
183.1
126.1
43.7
82.3
57.0
56.1
10.3
10.1
192.9
133.5
46.7
86.8
59.4
58.4
6.8
6.5
do..
do_.
do..
3.6
62.9
59.3
66*. 1
65.4
-4.2
73.7
77.9
3.6
61.5
57.9
3.9
€3.0
59.2
4.0
63.7
59.8
2.8
63.2
60.4
4.5
66.3
61.8
.1
66.7
66.6
.4
68.5
68.2
-2.1
63.0
65.1
-4.6
70.7
75.3
—5.2
70.0
75.2
-3.4
74.4
77.8
-3.5
79.6
83.1
-2.2
87.6
Govt. purchases of goods and services, total, .do
Federal
do
National defense
do
State and local
do
219.0
96.5
75.1
122.5
232.8
97.8
71.4
135.0
254.6
105.8
75.9
148.8
217.3
99.7
78.9
117.6
216.7
96.2
74.7
120.5
219.5
95.2
73.8
124.3
222.6
95.0
72.9
127.6
227.0
96.2
72.5
130.8
229.5
96.3
71.2
133.3
233.6
97.9
70.1
135.7
240.9
100.7
71.9
140.2
249.4
105.7
76.7
143.7
254.1
108.1
78.6
146.0
255.6
105.4
75.1
150.2
259.3
104.0
73.2
155.2
266.8
106.6
75.0
160.1
By major type of products
Final sales, total
Goods, total
Durable goods
Nondurable goods
Services
Structures
do
do
do
do
do
do
971.5
467.0
183.0
284.0
409.2
95.4
1,046.7
491.8
194.6
297.3
443.9
111.0
1,145.9
536.6
217.3
319.3
482.3
127.0
956.4
462.3
184.4
277.8
400.6
93.5
965.5
467.3
185.2
282.1
405.1
93.1
980.2
472.7
187.4
285.2
412.2
95.3
984.1
465.6
174.8
290.7
418.7
99.8
1,156.0 1,184. 6
554.8
542.4
225.1
220.7
329.7
321.7
497.3
487.3
132.5
126.3
1,231.0
584.5
240.3
344.3
507.1
139.5
do
.do
do
4.9
1.9
3.0
3.6
1.1
2.5
5.9
5.2
.8
1.5
1.0
.5
6.3
1.6
4.7
6.2
6.0
.2
5.7
-.9
6.6
4.9
3.7
1.2
6.6
3.6
3.1
1.3
-1.0
2.3
6.8
6.3
.5
722.1
741.7
789.5
720.4
723.2
726.8
718.0
731.9
737.9
742.5
754.5
503.2
Gross private domestic investment, total
Fixed investment
Nonresidential
Structures
Producers' durable equipment
Residential structures
Nonfarm
Change in business inventories
Nonfarm
Net exports of goods and services
Exports...
Imports
Change in business inventories
Durable goods
Nondurable goods
1,018.5 1,036.4 1,055.6 1,076.4 1,108.6 1,134.4
517.2
503.1
532.1
496.2
482.2
485.8
208.8
200.1
214.6
197.7
189.6
191.0
308.4
303.0
317.5
298.5
292.6
294.8
467.3
456.3
477.3
446.7
431.3
441.1
124.2
117.0
125.0
112.7
105.0
109.5
1.7
-1.9
3.5
.4
.4
.0
5.0
3.0
2.1
8.0
5.4
2.6
10.3
11.9
-1.6
766.5
783.9
796.1
811.6
827.3
511.0
520.9
528.7
537.8
550.3
GNP in constant (1958) dollarsf
Gross national product, totalf
.bil. $._
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
477.0
495.4
524.6
474.1
476.9
480.2
476.5
488.2
493.0
497.4
do..
do.
do.
83.1
207.0
186.8
92.1
211.1
192.2
102.8
220.5
201.3
83.8
204.4
185.9
84.7
206.0
186.2
84.9
207.7
187.6
78.9
209.9
187.8
88.8
210.0
189.3
90.0
211.2
191.8
94.2
210.5
192.8
95.4
212.8
195.0
98.6
214.7
197.7
100.7
220.1
200.0
104.5
221.9
202.3
107.4
225.4
205. 0
115.4
228.8
206.2
do
104.0
108.6
124.0
102.0
105.6
106.2
102.2
105.0
110.0
107.3
112.0
116.6
122.0
125.5
132.0
134.1
129.1
91.7
37.4
.do
do
do
...do
99.9
77.6
22.3
4.1
105.9
76.8
29.1
2.6
119.4
84.4
35.0
4.6
101.0
78.8
22.2
.9
100.0
78.9
21.1
5.6
101.3
79.3
22.0
4.9
97.4
73.6
23.9
4.8
101.2
75.3
25.9
3.8
104.7
76.4
28.3
5.3
106.6
76.4
30.1
.7
111.3
79.2
32.1
.7
116.3
82.2
34.2
.3
118.0
83.6
34.4
3.9
119.3
84.2
35.1
6.2
124.0
87.6
36.4
8.0
do
2.2
.1
1.9
1.9
2.0
2.9
1.9
2.7
-.7
.1
-1.8
-3.3
—2.8
-.7
-.9
141.1
62.3
78.8
142.2
62.8
79.4
143.9
63.7
80.3
142.6
60.8
81.8
142.7
59.0
83.6
Govt. purchases of goods and services, total, .do
Federal
do
State and local
__
do
139.0
137.6
142.8
142.4
138.6
64.7
60.8
61.6
69.0
64.8
74.3
76.8
81.3
73.5
73.8
r
Revised.
* Preliminary.
f Revised series. Estimates of national income and product and personal income have been revised back to 1969 (see p. 16ff.of July 1972 SURVEY);
revisions prior to May 1971 for personal income appear on pp. 25-26 of the July 1972
137.6
137.5
137.3
136.1
135.7
61.0
60.2
62.9
62.1
59.7
75.9
76.7
74.6
75.1
76.0
9 Includes data not shown separately.
SURVEY.
http://fraser.stlouisfed.org/
505-3R5
O - 73
R1 Louis
Federal Reserve
Bank
of- St.
S-l
4.9
0
142.9
58.0
84.9
SURVEY OF CURRENT BUSINESS
S-2
1970
Unless otherwise stated i n footnotes below, data
through 1970 a n d descriptive notes a r e a s s h o w n in
t h e 1971 edition of B U S I N E S S S T A T I S T I C S
1971
Annual total
1971
1970
1972
June 1973
IV
III
I
II
1972
III
IV
I
II
1973
III
IV
I
II
III
GENERAL BUSINESS INDICATORS—Quarterly Series—Continued
NATIONAL INCOME AND PRODUCT—Con.
Quarterly Data Seasonally Adjusted at Annual
Rates
851.4
860.8
876.2
903.1
922.1
943.0
974.2
•1,008.3
639.6
648.0
660.4
682.7
697.8
710.2
730.3
757.0
560.4
439.3
19.8
101.3
68.2
68.1
51.3
16.8
23.9
569. 6
447.0
19.4
103.3
70.0
69.3
52.4
16.9
24.4
576.5
451.6
18.8
106.0
71.5
70.7
53.1
17.6
24.8
587.3
460.9
19.4
107.0
73.0
71.8
53.8
18.1
25.0
606.6
475.8
20.8
110.0
76.1
73.3
54.3
19.1
25.2
620.0
487.1
20.5
112.4
77.8
73.2
54.4
18.7
24.2
630.6
494.8
20.4
115.4
79.6
75.3
56.2
19.1
26.2
648.8
510.0
20.6
118.1
81.5
79.0
57.4
21.6
26.9
668.1
524.6
21.8
121.6
88.9
81.2
58.7
22.5
26.5
66.9
76.6
80.1
78.3
79.4
81.8
86.1
89.6
95.6
" 100. 2
15.0
57.0
28.9
17.2
11.7
16.1
50.8
22.6
16.4
6.2
16.6
59.9
30.9
16.6
14.3
16.4
63.7
31.2
16.8
14.4
17.0
61.3
30.1
16.9
13.3
16.6
62.7
31.2
16.9
14.3
16.5
65.2
35.4
17.7
17.7
17.5
68.5
37.0
17.6
19.4
18.3
71.3
37.9
19.5
18.4
19.3
76.3
41.3
21.3
19.9
19.9
"80.3
46.2
21.3
25.0
9.0
23.4
7.8
20.3
7.2
20.9
7.8
21.2
8.8
23.7
8.5
22.6
7.6
23.9
7.8
22.0
22.8
9.6
23.8
25.1
9.2
24.9
83.3
37.3
45.9
25.4
20.5
-4.7
38.5
94.3
41.3
53.0
26.4
26.6
-6.0
41.3
76.6
35.4
41.2
24.0
16.3
-4.6
35.3
69.6
32.2
37.4
24.7
12.7
-2.8
36.5
81.3
38.0
43.2
25.5
17.7
-4.7
37.3
84.5
38.6
45.8
25.4
20.4
-4.4
38.1
84.1
37.5
46.6
25.5
21.0
-5.8
39.1
83.2
35.3
48.0
25.2
22.7
-3.9
39.7
88.2
38.8
49.5
26.0
23.5
-6.5
40.1
91.6
40.1
51.5
26.2
25.3
-5.5
40.9
95.7
41.8
53.9
26.5
27.3
-6.1
41.7
101.5
44.3
57.2
26.7
30.5
—5.9
42.5
" 114.3
"50.6
"63.7
27.3
••36.4
-14.1
43.4
806.3
116.7
689.5
634.7
54.9
861.4
117.0
744.4
683.4
60.9
935.9
140.8
795.1
740.2
54.8
813.4
114.3
699.1
641.1
58.0
819.8
115.8
704.0
644.8
59.2
838.0
112.3
725.7
59.3
858.1
115.2
742.9
678.8
64.1
867.9
117.5
750.4
689.4
61.0
881.5
123.0
758.5
699.2
59.3
907.0
136.5
770.5
714.9
55.7
922.1
139.5
782.6
732.5
50.1
141.1
798.8
748.0
50.8
974.6
146.4
828.2
765.5
62.8
993.9
143.5
850.4
793.9
56.5
79.71
31.95
15.80
16.15
81.21
29.99
14.15
15.84
88.44
31.35
15.64
15.72
20.26
7.99
3.87
4.12
21.66
8.66
4.26
4.40
17.68
6.69
3.11
3.58
20.60
7.55
3.52
4.03
20.14
7.31
3.40
3.91
22.79
8.44
4.12
4.32
19.38
6.61
3.29
3.32
22.01
7.63
3.71
3.92
21.86
7.74
3.86
3.87
25.20
9.38
4.77
4.61
• 21. 50
'7.80
'3.92
'3.88
47.76
51.22
2.16
1.67
1.88
1.38
15.30
12.86
2.44
10.77
18.05
57.09
2.42
1.80
2.46
1.46
12.27
14.12
15.83
• 13.69
15. 65
.61
.48
.73
.39
4.24
3.61
.62
2.95
4.98
.59
.38
.61
.35
".68
".46
".68
".42
4.39
3.67
.72
2.84
4.97
.63
.47
.63
.40
4.74
4.01
.73
3.39
5.57
'.63
".46
'.52
".32
4.29
3.60
.69
2.84
5.26
12.77
.58
.48
.50
* .32
3.63
3.19
.44
2.72
4.55
14.38
3.83
3 20
.63
2.81
4.44
12.83
.55
.42
.39
.37
4.07
3.35
.71
2.62
4.42
14.35
3.58
2.79
.78
2.56
4.16
10.99
.49
.34
.34
.28
3.11
2.70
.41
2.50
3.94
13.06
.54
.47
.60
.36
17.00
14.48
2.52
11.89
20.07
12.99
.50
.43
.76
.33
3.74
3.12
.63
2.81
4.42
"3.95
3.45
".50
2.87
"4.94
"4.75
"4.00
".74
81.88
32.15
15.74
16.40
78.63
30.98
14.92
16.05
79.32
30.46
14.21
16.25
81.61
30.12
14.06
16.06
80.75
29.19
13.76
15.43
83.18
30.35
14.61
15.74
86.79
30.09
15.06
15.02
87.12
30.37
14.77
15.60
87.67
30.98
15.67
15.31
91.94
33.64
16.86
16.78
49.73
47.66
1.94
1.56
3.08
1.22
48.86
2.04
1.46
1.29
1.33
14.64
12.16
2.48
10.70
17.39
51.50
2.08
1.88
2.28
1 40
51.56
2.23
1.72
1.68
1.48
15.87
13.56
2.30
10.73
17.85
52.82
2.30
1.64
2.26
1.33
15.74
13.01
2.74
10.44
19.10
56.70
2.42
2.10
1.96
1.48
16.92
14.27
2.65
11.71
20.10
56.75
2.38
1.88
2.89
1.53
16.60
14.32
2.27
11.59
19.88
56.70
2.40
1.50
2.67
1.41
17.01
14.62
2.38
11.56
20.16
58.30
2.46
1.71
2.33
1.42
798.6
855.7
935.6
806.3
804.1
Compensation of employees, total f
do
603.8
644.1
705.3
609.0
611.2
Wages and salaries, total
Private
Military
Government civilian...
Supplements to wages and salaries
Proprietors' income, total 9
Business and professional 9
Farm
Rental income of persons
do
do
do
do
do
do
do
do.._.
do
541.9
426.8
19.6
95.5
61.9
66.8
49.9
16.9
23.3
573.5
449.7
19.4
104.4
70.7
70.0
52.6
17.3
24.5
626.5
491.9
20.6
114.0
78.8
75.2
55.6
19.6
25.6
546.1
430.0
19.4
96.7
62.8
66.6
50.1
16.5
23.4
547.2
429.7
19.0
98.5
63.9
65.8
49.9
15.9
23.8
69.9
78.6
88.2
72.0
14.5
55.4
27.7
16.7
11.0
16.7
61.9
30.9
16.8
14.1
17.9
70.3
37.9
19.0
18.9
7.6
20.1
8.2
22.9
74.3
34.1
40.2
24.8
15.4
-4.4
34.8
National income, totalf
bil. $..
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
utilities
..bil. $..
All other industries
do
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 f
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:
All industries
bil. $..
Manufacturing
.do
Durable goods industries 1
do
Nondurable goods industries 1
do
Nonmanufacturing
Mining.
Railroad
Air transportation
Other transportation
Public utilities
Electric.
Gas and other.
Communication
Commercial and other
.do
do
...do
.do
do
.do
...do
do
do
do
Seas. adj. qtrly. totals at annual rates:
All industries
Manufacturing
Durable goods industries 1
Nondurable goods industries 1
Nonmanufacturing
Mining
Railroad
Air transportation
Other transportation
Public utilities
Electric
Gas and other
Communication
Commercial and other
834.5
1.89
1.78
3.03
1.23
13.14
10.65
2.49
10.10
16.59
do
do
do
do
.do
do....
do
.do
.do
do
do....
do.. .
do
do
.46
.46
.74
.30
1.86
1.96
3.24
1.22
13.84
11.34
2.50
10.62
17.00
13.68
11.20
2.48
10.20
15.97
14.91
12.61
2.30
11.21
17.72
.59
.45
.56
.37
17.53
14.67
2.86
12.63
20.21
• 96.19
• 35. 51
17.88
• 17. 63
• 60. 68
'2.59
' 2.11
"2.21
"1.53
• 18. 38
• 15. 40
"2.98
12.34
• 21. 53
1 24. 93 1 25.32
"9.28
9.43
"4.78
4.83
"4.50
4.60
15.89
,
2
"2 8. 66
.71
.50
.46
.40
5.24
4.36
8. 57
98. 57 1101.80
38.01
37. 05
19.68
19.14
18.34
17. 91
63.79
" 61. 52
2.90
"2.68
2.05
"1.75
" 2.58
2.03
" 1.58
1.61
20.18
" 18. 68
17.22
' 15. 92
2.96
' 2.76
i
'
"
"
'2 34. 25
2
35. 03
U.S. 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 U.S. military agency sales contracts
mil. $..
Receipts of income on U.S. investments
abroad
mil. $..
Other services
do.
Imports of goods and services
do
Merchandise, adjusted, excl. military
do
Direct defense expenditures
...do
Payments of income on foreign investments in the
U.S
mil. $..
Other services
do
Balance on goods and services, total
Merchandise, adjusted, excl. m i l i t a r y
do
do
' 62,919
' 41,964
1,478
11,426
' 8,052
1
' 66,287 r 73,462 ' 15,975 '15,803 • 16,487 ' 16,781 ' 17,282 ' 15,739 ' 17,587 • 17,463 ' 18,491 ' 19,921 P 22,435
' 42,768 ' 48,769 ' 10,704 ' 10,457 • 10,872 r 10,791 ' 11,522 ' 9,583 ' 11,655 • 11,539 ' 12,362 ' 13,213 p 15,320
1,166
'347
'429
' 12,899 • 13,925
' 8,710 ' 9,601
2,863
' 2,061
2,850
' 2,067
' 1,912
'507
'489
'419
'328
' 3,315
' 2,168
' 3,038
' 2,231
' 3,557
' 2,180
' 3,314
'2,290
' 3,270
' 2,366
'262
'287
' 3,476
' 2,391
' 3,86f
' 2,555
P 4,105
p 2,667
p-22,434
-19,430 -20,W
-59,289 • -65,480 r -78,071 -14,928 -15,099 -15,533 -16,650 -17,002 -16,299 -18,961
-39,788 -45,466 '-55,681 " -9,961 -10,269 -10,743 -11,708 -11,907 -11,108 -13,475 -13,313 -13,935 •-14,95* p-16,280
-4,852 ' -4,829 • -4,724 -1,210 -1,203 -1,175 -1,214 ' -1,204 ' -1,237 • -1,222 • -1,242 -1,108 '-1,151 p -1,167
-5,167
r -9,684
'3,630
' 2,176
' -4,927 -6,063 -1,284 -1,217 -1,160 -1,135 ' -1,293 ' -1,340 • -1,423
-10,258 '-11,604 • -2,473 ' -2,410 • -2,455 • -2,593 ' -2,598 ' -2,614 • -2,841
'131
'280
'-560 '-1,374
'704
'954
'807 ' - 4 , 6 0 9 ' - 1 , 0 4 7
'-917
' - 3 8 5 '-1,525 '-1,820
'129
' -2,698
-2,698 ' -6,912
' 743
188
" Revised.
v Preliminary.
i Estimates (corrected for systematic biases) for A p r . J u n e a n d J u l y - S e p t . 1973 based on expected capital expenditures of business. Expected
expenditures for the year 1973 appear on p . 11 of the J u n e 1973 S U R V E Y .
2 includes communication.
fSee corresponding note on p . S-l.
9 Includes inventory valuation adjust
ment,
e Personal outlays comprise personal consumption expenditures, interest paid b y
<• 2,989
' 2,128
• -1,479 • -1,526 ' - 1 , 6 3 ' p -1,858
304£ p -3,129
• -2,855 • -2,861
'-1,426
'-1,774
'-87C
'-939
' - 1 , 5 7 3 ' -1,745
pi
p-960
consumers, and personal transfer p a y m e n t s to foreigners.
§ Personal saving is excess of disposable income over personal outlays.
m
HData for individual durable and nondurable goods industries components appaar in t n e
Mar., June, Sept., and Dec. issues of the S U R V E Y .
d"More complete details appaar in t n e
quarterly reviews in the Mar., June, Sept., and Dec. issues of the SURVEY.
SURVEY OF CURRENT BUSINESS
June 1973
Unless otherwise stated i n footnotes below, data
through 1970 and descriptive notes are as shown in
the 1971 edition of B U S I N E S S S T A T I S T I C S
1970
1971
1972
1971
1970
III
Annual total
S-3
IV
II
1972
III
IV
1973
II
III
IV v
II
III
Apr.
May
GENERAL BUSINESS INDICATORS—Quarterly Series—Continued
U.S. BALANCE OF INTERNATIONAL
PAYMENTS—Con.
Quarterly Data Are Seasonally Adjusted
Unilateral transactions (excl. military grants), net
mil. $..
Balance on current account
..do
Long-term capital, net:
U.S. Government
..do
Private.
do
Balance on current account and long-term capital
mil. $..
Nonliquid short-term private capital flows, net
mil. $..
Allocation of special drawing rights (SDR)...do....
Errors and omissions, net. _
do
' -859 ' -958 ' -978 ' -969
' -954 ' -881 v -751
' -728 ' -678 '-1,538 '-2,343 -2,364 '-1,893 • - 1 , 751 p - 7 5 0
-3,214
'416
-3,598 --3,744 - -825 ' -839 '-803
-2,790 '-8,353
'222 '-135
'151
-2,018
-1,429
-2,359 '-1,339 ' -373 ' -680 ' -642 ' -575 ' -598 ' -544 ' -289
-4,401 ' -151 -191
-49 ' -895 '-1,691 '-2,018
'201 '-1,143
-3,031
-9,550 '-9, 842 ' -356 ' -868 '-1,386 '-2,994 '-3, 294 '-1,881 '-3,775 -1,855 •-2,652 - 1 , 556 p-1,214
' - 9 5 ' -366 ' -586 v -344
'604 ' - 3 9 3
'781 p-120
-221
-534
-315
' - 9 8 2 P-1,637
-883
-654 ' -535
'310
178
177
177
216
180
179
179
179
178
'
-940
-1,626
-1,490
-4,237
' - 3 3 ' -800 '-2, 708 '-5,465 '-2,082
'944
-482
867
-1,205
42
-2,347 '-1,637
717
710
217
-10, 784 r-3,112 ' -705
Net liquidity balance.
do
Liquid private capital flows, n e t . .
do
Official reserve transactions balance..
do
Changes in liabilities to foreign official agencies:
Liquid
.mil. $_.
Other readily marketable
do
Nonliquid
do
Changes in U.S. official reserve assets, net .do
Gross liquidity balance, excluding S D R . . . . d o
-3,851
-5,988
-9,839
-21,965 '-13,882 ' - 8 0 2 ' -906 '-2,672 '-5,698 '-9,448 '-4,151 '-3,188 -2,307 '-4,531
-7,788 r 3, 542 '-1,084 '-2, 258 '-2, 958 ' -647 '-2,434 '-1, 749 ' -288 ' 1,456
'7
-29, 753 '•-10,340 '-1,886 '-3,164 '-5,630 '-6,345 '-11,882 '-5,900 '-3,476 ' - 8 5 1 -4,524
Unless otherwise stated in footnotes below, data
through 1970 and descriptive notes areas shown in
the 1971 edition of B U S I N E S S S T A T I S T I C S
1971
-3,851 -6,871
'2,367 -3,631
-1,484 p-10,502
27,615 ' 9,720 ' 1, 547 ' 2,451 ' 5,157 ' 5,854 ' 10,870 ' 5, 738 ' 2,546 ' 1,057
7,637
4,467 ' 1,645
9,124
' -551
27
'117 p 1, 202
-810
34
'399
-233
-188
-201
-160
-173
' -17
221
341
-2
-167
535
78
189
-12
77
-8
-8
-9
366
280
v -44
2,348
-111
2,477
32
584
824
682
659 1,194
-187
429 - 2 3 1
-55
P220
-4,466 -23, 779 '-15,826 '-1,023 '-1,000 '-3,183 '-5,801 '-10,079 '-4, 720 '-4,168 -2,376 -5,118 -4,159 p-8,613
1972
1972
Apr.
Annual
May
June
July
Aug.
1973
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
GENERAL BUSINESS INDICATORS—Monthly Series
PERSONAL INCOME, BY SOURCE f
Seasonally adjusted, at annual rates:
Total personal income
bil. $._
861.4
935.9
919.4
924.0
922.9
932.9
940.0
946.8
964.8
976.2
982.9
986.0
994.5
1,001.3 '1,007.4
Wage and salary disbursements, total
do
Commodity-producing industries, total.do
Manufacturing
do
Distributive industries
do
572.9
206.1
160.3
138.2
627.0
224.6
175.8
151.5
617.6
221.7
173.3
149.4
619.9
222.5
173.8
149.4
624.0
223.5
175.0
151.4
625.7
222.4
174.5
151.9
630.6
225.2
176.6
152.3
636.0
227.8
178.8
153.0
643.0
231.0
181.5
155.0
648.5
233.3
183.9
156.3
654.9
235.8
186.2
158.0
662.7
237.7
187.0
159.5
668.4
240.7
189.5
160.2
681.8
245.2
193.5
164.0
Service industries
Government
Other labor income
Proprietors' income:
Business and professional
Farm
do
do
do
105.0
123.5
36.5
116.1
134.8
40.3
113.9
132.5
39.5
114.7
133.2
39.8
115.5
133.6
40.1
116.9
134.5
40.5
117.3
135.8
40.8
118.2
137.0
41.1
119.3
137.7
41.4
119.9
139.0
41.8
121.5
139.7
42.1
123.0
142.5
42.4
124.1
143.5
42.7
673.1 ' 678.7
242.0 ' 244.3
190.3 ' 193. 0
162.0 163.1
124.7 ' 126.0
144.4 ' 145.3
43.0
43.3
do
do
52.6
17.3
55.6
19.6
54.9
19.1
53.2
18.4
55.7
18.6
56.3
19.1
56.7
19.5
57.0
20.7
57.4
22.1
57.8
22.0
58.2
22.2
58.7
22.5
25.6
26.4
72.9
104.0
25.5
26.1
72.0
99.7
21.5
26.3
73.4
101.3
25.8
26.4
73.5
102.2
26.3
26.6
73.4
102.8
26.5
26.5
73.3
103.2
27.0
26.7
73.7
111.6
26.7
26.6
74.5
115.2
26.9
26.8
75.4
113.6
26.6
27.1
75.9
113.3
26.6
27.3
76.2
114.8
59.1
59.5
22.8 '21.9
26.3 '26.0
27.4
27.6
76.8 '77.5
115.5 '116.0
59.7
21.5
24.5
25.4
69.6
93.6
55.3
18.7
25.6
26.3
72.7
100.9
Rental income of persons
do
Dividends
do
Personal interest income
do
Transfer payments
do
Less personal contributions for social insurance
bil. $._
126.7
145.8
43.6
26.2
27.6
78.4
116.7
31.2
35.5
35.0
35.1
35.3
35.5
35.8
36.0
36.4
36.5
36.6
42.4
42.7
837.2
909.3
893.4
898.3
897.5
907.3
914.0
920.3
937.1
947.2
953.9
956.6
964.6
Cash receipts from farming, Including Government
payments, total \
mil.$_. 56,208
62,550
3,659
3,916
4,050
7,405
5,389
5,478
7,270
6,969
5,820
6,092
4,691
5,016
4,526
53,063
22,609
30,454
6,815
19,390
4,000
58,550
24, 233
34,317
7,109
22,729
4,231
3,538
955
2,583
601
1,664
296
3,899
996
2,903
621
1,956
304
4,033
1,196
2,837
586
1,896
335
4,500
1,790
2,710
583
1,706
401
4,776
1,816
2,960
584
1,980
376
5,435
2,333
3,102
577
2,120
387
7,200
3,815
3,385
610
2,360
397
6,937
3,941
2,996
598
1,998
384
5,719
2,895
2,824
585
1,780
433
6,043
2,769
3,274
632
2,192
425
4,673
1,575
3,098
589
2,114
370
5,006
1,462
3,544
656
2,381
480
' 4, 449
' 1, 228
' 3, 221
650
' 2, 039
500
Indexes of cash receipts from marketings and CCC
loans, unadjusted: %
All commodities
1967 = 100..
Crops
do.__.
Livestock and products
do
124
123
126
137
131
141
99
62
128
110
65
144
113
78
140
126
117
134
134
118
146
153
152
153
202
248
167
195
257
148
161
188
140
170
180
162
131
103
153
141
95
175
125
80
159
143
93
182
Indexes of volume of farm marketings, unadjusted: \
All commodities
1967 = 100..
Crops
do....
Livestock and products
do
111
115
107
111
115
107
79
48
102
84
50
111
92
73
107
107
114
102
109
107
110
118
128
112
162
213
124
158
222
111
126
158
102
126
156
104
83
61
100
75
48
94
81
48
107
Total nonagricultural Income
do
42.8
43.2
971.1 ' 978.2
43.4
983.4
FARM INCOME AND MARKETINGS t
Farm marketings and CCC loans, total
Crops
Livestock and products, total 9
Dairy products
Meat animals
Poultry and eggs
do
do
do
do
do
do
5,100
1,400
3,700
700
2,400
500
INDUSTRIAL PRODUCTION <?
Federal Reserve Board Index of Quantity Output
Unadjusted, total index d"--By market groupings:
Final products
Consumer goods
Automotive products
Home goods and clothing.;.
Equipment
Materials
Biy industry groupings:
Manufacturing
Durable manufactures
Nondurable manufactures
1967=100..
106.8
114.4
113.6
113.4
116.5
109.2
115.4
120.3
121.3
118.7
116.0
117.2
• 121.5 ' 122. 8
123.6
123.7
do
do
do
do
do
104.7
115.7
119.5
107.4
89.4
111.2
123.1
127.1
116.8
94.6
110.2
122 A
138.2
118.6
93.2
108.5
119.6
132.6
113.2
93.1
113.3
126.0
133.5
120.6
95.6
106.3
117.0
92.8
107.1
91.4
112.7
126.5
107.5
120.2
93.4
118.7
133.5
136.5
125.0
98.0
118.6
132.7
146.3
126.3
99.0
114.8
126.0
141.2
120.3
99.2
111.0
119.7
123.2
113.9
98.8
114.1
124.3
138.5
117.6
99.9
' 118. 6
' 129. 4
' 147. 7
' 129. 2
103.3
117.7
127.6
148.5
123.8
103.8
do.
107.4
116.5
116.6
117.7
118.7
109.4
115.8
119.6
122.1
121.4
120.9
120.6
117. 3 ' 118.3
• 127. 9 ' 129.1
149.1 ' 151. 3
125.8 ' 127.5
1
102. 7 ' 103. 2
125.9 ' 127. 9
' 128.6
129.4
.do
.do....
-do...-
105.2
99.4
113.5
113.2
107.4
121.5
112.7
107.5
120.2
112.7
107.6
120.0
115.7
109.4
124.9
115.9 '121.3 ' 123. 0
112.8 ' 118. 4 ' 120.1
120.3
' 127.1
' 125. 5
' 123. 7
124.8
124.6
130.0
130.8 126. 3 123.5
128.3
' 127. 5 factors
cfSeries revised back to 1970 to reflect new seasonal adjustment
levels. Monthly revisions are available upon request.
123.5
'120. 6
' 127. 9
123.8
120.9
128.0
' 122. 6
122.7
120.4
122.9
118.9
123.8
120.0
Mining and utilities.
_do.
Revised.
v Preliminary.
fSee corresponding note on p. S-l.
iSeries revised
Digitized beginning
for FRASER
1969; monthly data prior to May 1971 appear in the Farm Income Situation, July
1972, available from the U.S. Dept. of Agriculture, Economic Research Service.
9 Inhttp://fraser.stlouisfed.org/
cludes data for items not shown separately.
r
Federal Reserve Bank of St. Louis
107.0
100.2
116.9
113.5
105.1
125.7
118.9
111.9
128.9
120.6
114.4
129. 6
118.1
113.1
125. 4
114.8
111.4
119.7
and production
June 1973
SURVEY OF CURRENT BUSINESS
S-4
Unless otherwise stated in footnotes below, data
through 1970 and descriptive notes are a s shown in
the 1971 edition of B U S I N E S S S T A T I S T I C S
1971
1972
Annual
1973
1972
P
Apr.
May-
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
GENERAL BUSINESS INDICATORS—Continued
INDUSTRIAL PRODUCTION*— Continued
Federal Reserve Index of Quantity
Output—Con.
Seasonally adjusted, total index*
1967=100.
By market groupings:*
Products, total
do...
Final products.
do...
Consumer goods
do...
Durable consumer goods
do...
Automotive products
do...
Autos..
do
Auto parts and allied goods do...
106.8
114.4
112.8
113.2
113.4
113.9
115.1
116.1
117.5
118.5
119.2
119.9
121.1
122.0
122.8
115.9
113.9
125.5
117.3
115.0
126.8
117.5
115.3
126.7
118.6
116.4
127.5
119.5
117.3
128. 3
120.1
118.1
129.4
120.7
118.7
129. 6
106.4
104.7
115.7
113.2
111.2
123.1
111.4
109.8
122.0
112.1
110.2
122.2
112.0
110.1
122.1
112.2
110.2
122.0
113.3
111.3
123.1
114.4
112.4
124.4
115.1
119.5
108.3
140.9
125.5
127.1
112.7
154.9
125.9
128.9
114.3
157.0
125.2
127.4
111.3
158.3
128.0
125.7
108.2
159.3
123.9
124.7
108.2
158.9
125.8
127.1
109.5
160.9
125.4
124.8
109.6
153.9
128.3
130.3
116.9
156.1
130.7
137.5
126.6
158.6
133.9
142.0
133.9
158.0
134.6
134.9
126.0
151.9
1
137. 8
141. 7
131.5
1
161. 4
140.4
144.1
130.8
169.9
139. 4
141. 7
128.1
• 167. 8
Home goods 9
do.
Appliances, TV, home audio_.-do.
Carpeting and furniture
do.
112.6
111.5
117.2
124.5
124.7
132.7
124.2
132.2
131.3
124.3
129.3
132.0
126.1
125.9
134.0
123.5
121.6
132.6
125.1
119.7
138.4
125. 7
123.1
134.5
127.2
124.0
137.6
126.9
121.8
137.6
129.1
133.0
139.0
134.5
140.7
142.1
1
135. 8
• 137. 8
• 145. 0
138. 3
143. 0
145. 7
• 138. 2
144.0
144.2
Nondurable consumer goods
do.
Clothing
do.
Consumer staples
do.
Consumer foods and tobacco...do.
Nonfood staples
do.
115.9
101.4
119.8
113.6
126.3
122.2
107.9
126.0
117.3
135.2
120.5
105.0
124.6
116.8
132.8
121.0
106.2
124.9
117.2
133.1
120.6
106.8
124.3
116.8
132.2
121.3
108.0
124.8
116.4
133.6
122.1
109.1
125.5
117.6
133.8
123.9
110.0
127.6
118.5
137.2
124. 5
110.3
128.2
118.5
138.3
125.3
110.4
129.2
120.3
138.6
123.9
109.0
127.8
117.7
138.2
124.8
108.0
129.2
118.2
140.7
•124.7
109.9
128.5
119.2
• 138.1
125.2
126.0
128.9
119.5
138.7
129. 7
119. 6
140.4
E quipment
do.
Business equipment
do.
Industrial equipment 9
do.
Building and mining equipment-do.
Manufacturing equipment
do.
89.4
96.8
92.9
92.9
82.6
94.6
104.5
99.6
102.0
89.1
92.7
101.3
95.7
98.4
84.9
93.4
102.5
96.3
97.0
85.9
93.3
102.4
97.2
98.3
86.7
93.4
102.1
93.7
98.0
87.1
94.8
105.0
99.9
104.8
89.4
95.8
106.7
102.8
105.7
92.6
97.3
108.5
103.7
105.4
94.0
98.5
110.1
105.8
104.2
96.9
99.4
111.1
107.3
108.0
98.5
101.0
114.2
109.0
108.6
100.9
• 102. 0
• 114.9
• 109. 8
109.2
• 101. 8
102.3
115. 8
111.4
110. 0
103.7
103. 4
117.4
113. 3
111.7
105. 7
Commercial, transit, farm eq9---do.
Commercial equipment
do.
Transit equipment
do.
101.2
110.0
89.4
110.0
117.9
96.7
107.6
114.1
97.0
109.6
116.4
108.4
116.7
94.4
108.3
117.3
92.5
110.7
120.0
93.0
111.2
121.5
93.1
113.8
122.7
115.3
123.2
101.9
115.4
122.6
101.7
120.0
125.3
110.0
' 120. 9
' 127. 0
111.8
120. 8
128. 6
110. 2
122.1
131.1
' 107. 9
77.1
78.1
78.5
78.2
78.3
78.9
77.9
78.6
79.3
80.1
79.1
'80.4
'79.9
r
127. 6
127.3
127.9
Defense and space equipment
Intermediate products
Construction products
Misc. intermediate products
.
do.
do.
do.
do.
'80.3
1
112.6
112.6
112.6
120.4
119.5
121.1
117.3
116.5
118.0
119.3
118.0
120.4
119.1
117.8
120.2
120.5
119.8
121.1
121.2
119.3
122.8
121.7
120.6
122.6
123.4
123.1
123.6
125.9
126.1
125.6
125.7
124.6
126.7
126.5
125.9
127.0
107.4
101.7
104.2
87.1
114.1
116.6
116.3
116. 5
112.3
113.2
97.1
121.7
128.1
120.9
115.0
110.4
113.8
95.4
120.6
125.9
121.6
115.6
111.1
112.0
95.3
121.3
127.1
120.7
116.1
111.1
112.1
95.3
122.5
128.5
121.7
116.8
111.5
111.4
98.2
123.3
130.1
123.5
117.4
112.6
114.0
97.8
123.7
131.1
121.5
119.1
116.0
116.3
100.7
122.7
129.2
125.0
120.3
117.4
116.6
102.6
123. 9
130.7
124.3
120.6
117.7
115.8
103.6
124.4
132.7
122.5
122.0
120.1
118.0
105.7
125.5
134.8
118.7
121.7
120.1
120.8
104.3
124.3
133.0
120.7
r
124.0
«• 122. 9
r 124.1
107.5
' 125. 7
' 135. 8
' 123. 7
• 125.0
• 124.1
• 124.4
•109.7
• 126.4
1
137. 2
• 123.9
105.2
99.4
104.0
100.9
96.6
108.7
107.5
113.2
107.4
113.2
113.1
107.1
123.9
113.4
111.8
105.8
110.4
110.2
105.5
118.6
110.8
112.3
106.3
112.7
113.5
108.3
121.6
111.9
112.5
105.8
112.1
111.9
104.9
122. 5
112.3
113.2
107.7
114.5
114.9
107.7
122.8
114.1
114.1
108.4
114.0
113.6
107.3
124.0
114.4
115.2
109.7
116.3
117.4
113.4
128.9
115.2
116.6
111.4
118.4
119.3
114.1
128.6
117.5
117.4
112.4
119.6
120.2
114.3
133.1
118.8
118. 5
114.1
122.8
126.6
117.4
147.2
118.6
118.9
114.3
120.2
120.6
114.2
132.8
119.9
• 120.4
116.2
' 122. 6
' 123.1
• 120. 2
' 128.0
• 122.1
' 121.8 • 122.3
117.5 1 118.4
• 123. 4 •124.2
• 122. 5 • 123. 4
1
117.9 1 117. 8
131.0
133.7
• 124.1 125.0
do.
do.
do.
do.
94.9
96.2
94.3
98.3
102.2
105.3
103.3
107.6
101.1
102.6
98.6
107.1
101.0
103.0
100.4
105.9
101.6
104.8
101.8
108.0
102.1
104.8
102.9
107.1
103.1
107.1
106.1
108.1
104.2
108.3
107.0
109.7
105.7
109.6
108.8
110.4
107.0
110.4
110.6
110.2
108.7
113.1
110.5
116.0
109.5
113.7
112.3
115.2
112. 6
111.0
113.7
117.1 ' 119. 6
• 114. 5
1
113. 0 • 115.3 1 118.8
• 116. 2 119.1 • 120. 5
Transportation equipment
do.
Motor vehicles and parts
do.
Aerospace and misc. trans, eq do.
Instruments
do.
Lumber, clay, and glass
do..
Lumber and products
do..
Clay, glass, and stone products
do..
Furniture and miscellaneous
do.
Furniture and fixtures
do.
Miscellaneous manufactures
do.
Nondurable manufactures
.do.
Textiles, apparel, and leather
do.
Textile mill products
...do.
Apparel products
do.
Leather products
.do.
92.9
114.1
72.5
108.5
98.8
122.8
75.8
118.8
100.4
125.6
76.1
116.1
122.6
76.1
117.3
97.4
119.3
76.4
119.3
98.2
121.4
75.9
119.9
98.4
121.6
76.0
120.9
99.8
123.0
77.3
122.4
102.1
127.6
77.5
122.9
105.0
132.0
79.0
123.3
105.9
135.3
77.6
122.6
106.7
137.4
77.1
127.2
110.0
141.5
79.7
1
129. 0
110.3
141.0
80.8
• 131.0
111.5
113.9
110.0
119.4
122.2
117.7
118.1
119.9
117.1
118.2
119.1
117.5
119.0
121.8
117.4
119.1
121.5
117.7
119.6
121.1
118.7
120.5
122.8
119.1
123.0
128.1
120.0
122.8
128.2
119.7
120.9
124.3
118.9
122.2
126.8
119.5
• 125. 0
1
128.3
' 123.1
• 126. 7 • 126. 8
' 129.3
129.0
• 125. 2 125.5
111.7
102.1
120.5
122.6
113.2
131.1
119.9
111.7
127.4
120.6
110.7
129.6
122.1
112.8
130.6
123.7
115.5
131.0
126.7
117.6
135.1
126.6
116.7
135.6
126.2
116.1
135.4
126.2
117.4
134.0
127.0
118.5
134.5
130.3
119.1
140.5
• 132. 8
122.3
1
142.4
113.6
100.7
108.6
97.8
87.4
121.5
106.4
114.7
104.4
88.5
120.3
106.1
113.5
103.3
94.4
120.8
104.9
112.8
102.8
89.2
121.3
105.9
113.9
103.0
92.2
121.0
104.8
112.7
102.2
90.2
122.6
106.8
116.5
104.3
86.5
123.3
108.0
116.6
105.5
91.6
124.3
109.1
118.5
106.8
88.6
124.7
109.1
118.4
109.3
80.1
125.0
110.7
119.9
109.5
87.4
125.4
107.7
118.4
106.0
81.3
• 126. 6 • 128. 0 1 128.1
• 109. 8 111.4 • 112. 6
• 120.1 • 122. 2 123.2
108.0
87.2
85.1
'85.0
do.
do.
do.
107.8
115.8
102.5
115.4
126.6
107.9
112.3
124.4
104.2
114.1
127.2
105.3
115.1
126.7
107.3
115.2
126.9
107.2
116.4
127.8
108.7
115.3
124.1
109.4
118.6
127.9
112.4
120.9
133.3
112.6
120.6
134.4
111.3
119.9
132.4
111.5
121.9
135.0
113.0
Chemicals, petroleum, and rubber. ..do.
Chemicals and products
do.
Petroleum products
do.
Rubber and plastics products
do.
124.8
126.4
115.7
126.0
137.6
139.3
120.2
145.5
136.1
137.9
117.0
144.7
137.5
138.9
119.5
146.5
137.1
139.5
117.3
145.0
137.4
139.5
119.5
144.1
139.9
141.3
120.4
150.4
141.1
143.4
120.7
149.6
141.6
143.8
124. 1
148.2
140.6
141.5
123.4
151.3
141.5
141.5
124.8
154.4
145.2
145.4
129.0
156.7
• 144. 3
• 144. 4
• 124.1
160.1
Foods and tobacco...
Foods
Tobacco products
113.7
114.9
97.7
117.4
118.4
103.7
117.6
118.6
103.9
117.1
118.5
99.1
117.6
119.3
96.4
116.8
118.3
96.7
117.6
118.3
108.5
118.8
120.0
103.0
117.8
118.2
111.8
118.9
119.4
112.5
118.3
119.5
120.5
118.2
119.0
107.9
• 120. 9 • 120.4
120.5
• 121. 7
118.1
110.3
122.6
122.9
122.7
Mining and utilities..
do..
118.9
123.8
107.9
108.2
109.0
Mining
do..
107.0
108.2
110.7
102.9
122.2
Metal mining.
do..
121.4
120.8
91.7
97.4
92.6
Stone and earth minerals
do..
94.0
93.2
109.9
110.5
110.0
Coal, oil and gas
do.
109.1
107.6
105.0
109.1
112.9
Coal
do..
103.2
99.8
110.7
110.7
109.6
Oil and gas extraction
do.
110.0
108.9
109.5
108.9
108.1
107.3
Crude oil
do.
108.3
Utilities.
...do.
140.2
141.1
141.0
133.9
143.5
Electric
do.
145.6
147.1
138.1
149.4
146.8
Gas.
do.
119.8
123.!
' Revised.
v Preliminary.
9 Includes
data for items not shown separately.
f Revised data for 1966-71 for the indi
cated series appear on pp. 24-25 of the Oct. 1972 SURVEY.
See also notes marked "*" on pp.
http://fraser.stlouisfed.org/
S-ll and S-12.
Federal Reserve Bank of St. Louis
123.2
107.9
102.2
91.6
111.0
114.4
110. 5
107.4
123.8
107.7
115.2
91.4
109.3
97.2
111.2
107.8
125.9
110.2
123.4
94.9
111.1
104.2
112.1
108.0
126.2
100.0
122.3
95.2
110. 9
99.3
112.7
108.7
127.2
110.1
136.7
97.0
109.2
101.0
110.5
108.1
126.2
108.3
141.8
96.0
106.8
97.1
108.2
106.5
127.7
108.4
138.6
98.4
106.9
95.8
108.6
104.8
127.4
' 109. 2
• 131.7
99.1
' 108.4
' 103. 9
' 109.1
' 105. 6
126.1
• 125.5
106. 0
• 106. 3
124.9
• 129. 0
99.7
• 100.2
" 104. 9 • 105. 0
• 105. 7 ' 9 9 . 9
• 104. 8 • 105. 9
101.8
'99.1
142.5
148.6
144.1
150.2
145.6
152.0
146.6
152. 8
148.7
155.2
148.6
155.2
151.9
159.1
150.4
156.9
151.4
• 149. 6
• 156. 0 • 158. 0
Materials
do.
Durable goods materials 9
do.
Consumer durable parts
do.
Equipment parts
do.
Nondurable goods materials9
do..
Textile, paper, and chem. materials..do.
Fuel and power, industrial
do.
By industry groupings:*
Manufacturing, total.
do.
Durable manufactures
do.
Primary and fabricated metals
do..
Primary metals
do.
Iron and steel
do.
Nonferrous metals.
do.
Fabricated metal products
do.
Machinery and allied goods 9
Machinery
Nonelectrical machinery
Electrical machinery
Paper and printing...
Paper and products.
Printing and publishing
.do.
do.
do.
*See note marked "d1" on p. S-3.
127.4
' 126. 0
' 128.5
133. 4
122. 8
143. 0
127. 9
128.3
127.8
' 126.5
• 125. 9
• 129. 2
111.0
128.0
• 139. 6
• 123. 8
109.4
138.3
81.5
133. 3
132. 6
123.0
141.2
• 122. 6 • 122.0
• 137. 7 136.4
• 112. 4 112.3
•
•
•
•
147. 2 ' 148. 4
148.3 147. 2
123. 5 127.7
162. 9 169.0
119. 3
119.3
May?
SUK>/JfiY OF L;u.KK EJNT 13USl J N l ^
June 1973
Unless otherwise stated in footnotes below, data
through 1970 and descriptive notes are as shown in
the 1971 edition of B U S I N E S S STATISTICS
1971
1972
1972
Annual
S-5
Apr.
May
June
July
Aug.
1973
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
GENERAL BUSINESS INDICATORS—Continued
BUSINESS SALES §
Mfg. and trade sales (unadj.), total f-Mfg. and trade sales (seas, adj.), total f
Manufacturing, total t
Durable goods industries
Nondurable goods industries
Retail trade, total t
Durable goods stores
Nondurable goods stores
Merchant wholesalers, total
Durable goods establishments
Nondurable goods establishments
126,133
130,151 132, 872 133, 254 136, 570 125,607 130,534 •143,711 141,369
122,283
123,371
126,458
127,056 129, 610 131,478 132,766
136,761 138,788
mil. $._ 1,343,166 1,494,851 120,449 125,502 129,312 116,810
do
11,343,166 11,494,851 121,685 122,814
do
do
do
do
do
do
1666,959 1748,273
358,637 409, 268
308,322 339, 005
61,219
33,581
27, 638
61,413
33,705
27,708
61,231
33,129
28,102
61,635
33,825
27,810
63,352
34,710
28,642
63,903
35,037
28,866
64,725
36,086
28,639
66,553
36,750
29,803
66,387
36,378
30,009
68, 299
38,056
30, 243
69,123 '70, 081
38,336 '38,614
30,787 '31,467
71,111
39,378
31, 733
i 408,850 1448,379
131,814 149,659
277,036 298, 720
36,296
11,976
24,320
37,141
12,280
24,861
36,822
12,253
24,569
37,342
12,468
24,874
37,969
12,842
25,127
37, 746 39,106
12,614 13,168
25,132 25,938
38,713
13,173
25,540
39,417 40, 707
13, 640 14, 234
25,777 26, 473
41,242 '41,979
14,405 '14,612
26,837 '27,367
40, 978
14, 262
26, 716
.do
do
do
1267,357 1298,199
122,420 138,446
144, 937 159,753
24,170
11,246
12,924
24,260
11,256
13,004
24,230
11,248
12,982
24,394
11,326
13,068
25,137
11,802
13,335
25,407
11,918
13,489
26,212
12,155
14,057
26, 962 27,755
12, 546 12,974
14,416 14, 781
28,423 '29,312
13,181 '13, 720
15,242 '15, 592
29, 563
13, 666
15, 897
25,779
12,016
13,763
141,372 141, 652
BUSINESS INVENTORIES §
Mfg. and trade inventories, book value, end of year
or month (unadj.), total f
mil. $.. 181,010
191,823 186,896 187,745 187,014 186,141 186,243
188,024 191, 641 194,330 191,823 194,287 197,294
200,513 201,912
Mfg. and trade inventories, book value, end of year
or month (seas, adj.),total t
mil. $._ 182,842
193, 479 184,816 185,953 186,439
188,409
189,759 190,974 192,318 193,479
199,030 199, 751
105,138
68,542
36,596
105,441
68,834
36,607
53, 661
23, 608
30,053
30, 657
18, 239
12,418
103,505 103,888
67,427 67, 645
36,078 36,243
53,293 52,940
23,665 23,194
29,628 29, 746
29,641 30,056
17,780 18,182
11,861 11,874
106, 008
69,330
36,678
53,934
23, 675
30, 259
195,657 197,504
101,665
65,874
35, 791
52,261
23,808
28,453
28,916
17, 254
11,662
107,047
70,144
36,903
54,700
24,442
30, 258
31, 732
18,884
12,848
102,428
66, 575
35, 853
52,814
23, 740
29,074
29,574
17,542
12,032
102,822
67,035
35,787
53,402
23,915
29,487
29,729
17,733
11,996
ratio..
1.60
1.50
1.52
1.51
1.52
1.51
1.49
1.49
1.47
1.46
1.46
1.43
1.42
do
do
do
do
do
1.83
2.22
.65
.99
.58
1.67
1.98
.56
.91
.51
1.67
1.98
.56
.90
.52
1.67
1.99
.56
.91
.52
1.69
2.04
.57
.94
.53
1.69
2.00
.57
.91
.52
1.66
1.97
.56
.90
.51
1.65
1.96
.56
.90
.51
1.64
1.92
.55
.89
.49
1.60
1.89
.54
.88
.48
1.61
1.93
.55
.90
.48
1.57
1.86
.53
.87
1.57
1.86
.53
.87
.46
do_
do.
do.
do.
1.37
.51
.21
.65
1.28
.48
.19
.60
1.30
.49
.20
.61
1.29
.49
.19
.61
1.28
.49
.19
.61
1.30
.49
.20
.62
1.28
.48
.19
.61
1.27
.47
.19
.60
1.28
.48
.20
.61
1.23
.46
.19
.58
1.23
.46
.19
.58
1.22
.46
.19
.57
do.
do..
do..
1.47
2.06
1.19
1.42
1.90
1.19
1.46
1.98
1.20
1.44
1.95
1.19
1.45
1.93
1.21
1.42
1.86
1.20
1.40
1.79
1.20
1.42
1.87
1.20
1.38
1.80
1.17
1.41
1.84
1.19
1.39
1.79
1.17
1.23
1.21
Merchant wholesalers, total
do..
1.60
1.55
Durable goods establishments
do..
.92
.91
Nondurable goods establishments
do..
MANUFACTURERS' SALES, INVENTORIES,
AND ORDERS
Manufacturers' export sales:
Durable goods industries:
Unadjusted, total
mil. $.. 21, 583 25,108
Seasonally adj., total
do
666, 959 748, 273
Shipments (not seas, adj.), totali-do.
1.22
1.56
.93
1.23
1.58
.92
1.22
1.58
.91
1.23
1.61
.91
1.20
1.52
.91
1.21
1.53
.92
1.20
1.52
.93
1.19
1.53
.90
1.18
1.51
.89
1,955
1,918
2,146
2,063
2,151
2,097
1,738
1,951
1,997
2,201
2,111
2,145
2,288
2,268
2,218
2,171
2,446
2,217
Manufacturing, totalt
Durable goods industries
Nondurable goods industries
Retail trade, total t
Durable goods stores
Nondurable goods stores
Merchant wholesalers, total
Durable goods establishments
Nondurable goods establishments
do
do
do
do
do
do
do
do
do
53,107
23,037
30,070
30,164
17,984
12,180
31,032
18,296
12,736
106,371 107, 047 107,549 108,414 109,588 109, 590
69,641 70,144 70, 632 71,117 -71, 940 72,112
36,730 36,903 36, 917 37,297 -37, 648 37,478
54,658 54,700 55, 526 56,039 56,197 56, 705
24,235 24,442 24,472 24,638 •24, 538 24, 624
30,423 30, 258 31,054 31,401 31, 659 32, 081
31,289 31,732 32, 582 33,051 '33, 245 33, 456
18,628 18,884 19, 229 19,321 19, 457 19, 405
12,661 12,848 13, 353 13,730 13, 788 14,051
BUSINESS INVENTORY-SALES RATIOS
Manufacturing and trade, total t
Manufacturing, total t
Durable goods industries
Materials and supplies
Work in process
Finished goods
,
Nondurable goods industries
Materials and supplies
Work in process
Finished goods
Retail trade, total t
Durable goods stores
Nondurable goods stores
Durable goods industries, total 9 t
Stone, clay, and glass products
Primary metals
Blast furnaces, steel mills
Nonferrous metals
do
do
do
do
.do
Fabricated metal products
Machinery, except electrical
Electrical machines
Transportation equipment
Motor vehicles and parts
Instruments and related products
do..
do.
do..
do_.
do_.
do..
Nondurable goods industries, total9
Food and kindred products
Tobacco products
Textile mill products
do
do
do.]
do
Paper and allied products
Chemicals and allied products
Petroleum and coal products
Rubber and plastics products
Shipments (seas, adj.), total*
By industry group:
Durable goods industries, total9t
Stone, clay, and glass products
Primary metals
Blast furnaces, steel mills
Nonferrous metals
do.__
do
do
do
1.41
1.56
'1.86
.53
'.87
.46
1.54
1.83
.52
.86
.45
1.21
.46
.18
.57
1.20
'.46
'.18
.56
1.18
.45
.18
.55
1.36
1.72
1.17
1.36
1.71
1.17
34
68
16
1.38
1.73
1.20
1.17
1.48
.90
1.16
1.47
.90
13
42
1.13
1.42
2,153
2,427 ' 2, 699 2,540
r
2,497
2,518
2,499
2,289
63, 513 69, 995 72, 550 72, 090
62,016
62,048
65,193
56,358
61,485
67,074
67,035
66,310
63,477
34,376
36,047
2,154
5,491
2,641
2,085
29, 895
1,973
4,700
2,268
1,800
32,590
2,260
5,135
2,477
1,969
36, 778 37,182
2,281
2,252
5,560
5,546
2,677
2,643
2,123
2,160
36,557
2,114
5,437
2,675
2,025
34,801
1, 968
5,418
2,636
2,065
34,611
2,079
5,313
2,594
2,005
3,481
5,764
4,613
8,120
5,426
1,016
3,463
5,681
4,521
8,407
5,489
1,014
3,647
6,104
4,952
8,291
5,530
1,068
3,113
5,083
4,299
5,977
3,410
989
3,490
5,303
4,687
6,328
3,596
1,047
3,713
5,904
5,132
8,698
5,855
1,161
3,680
5,717
5,109
9,246
6,203
1,130
3,448
5,602
5,224
9,287
6,248
1,152
3,353
5,813
5,053
8,311
5,167
1,100
3,350
5, 793
4.741
8>54
6,278
980
308,322 339,005 27,640 27,437
101, 737 112, 213 8,832 9,050
520
5,776
489
6,223
24, 472 28,078 2,277 2,244
29,146
9,575
547
2,581
26,463
8,893
519
2,039
28,895
9,450
540
2,434
30, 296
10,187
533
2,571
9,839
526
2,448
29,753
9,961
547
2,485
28,676
9,986
519
2,405
28, 295
9, 502
504
2,324
2,332
4,819
2,233
1,500
2,473
5,014
2,363
1,548
2,227
4,385
2,348
1,319
2,420
4,808
2,408
1,521
2,467
5,079
2,463
1,614
2,480
4,960
2,384
1,598
2,416
4,818
2,468
1,493
2,296
4,693
2,530
1,387
358, 637 409, 268
19, 766 24,309
55, 083 62,721
26,656
30,338
21,312
23,918
38,478
58,830
50, 041
84,603
54,786
11, 665
25,362
52,170
25,777
16, 249
40,962
67,145
57,268
95, 812
62,385
12,529
28,421
57, 298
28, 223
17,847
2,349
4,938
2,321
1,540
1,892
5,465
2,717
2,019
do.
61,219
61,413
61,231
61,635
63,352
63,903
64,725
66,553
66,387
do
do.
do.
do.
do.
33,581
1,929
5,032
2,397
1,957
33,705
2,017
4,930
2,358
1,872
33,129
1,971
4,960
2,306
1,934
33,825
1,988
5,103
2,370
2,047
34,710
2,125
5,393
2,564
2,092
35,037
2,078
5,638
2,788
2,122
36,086
2,130
5,752
2,916
2,110
36,750
2,149
5,747
2,933
2,058
36,378
2,119
5,997
3,036
2,169
Fabricated metal products
do.
3,444
3,397
3,447
Machinery, except electrical
do.
5,564
5,549
5,597
Electrical machinery
do.
4,670
4,783
4,604
Transportation equipment
do.
7,869
7,938
7,487
5,193
Motor vehicles and parts
do.
5,074
4,793
1,044
Instruments and related products
do_
1,028
992
r
Revised.
i Based on data not seasonally adjusted.
2 Advance estimate; total mfrs.
shipments for Apr. 1973 do not reflect revisions for selected components. §The term "business" here includes only manufacturing and trade; business inventories as shown on p. S-l
cover
data for all types of producers, both farm and nonfarm. Unadjusted data for manufactur
3,323
5,564
4,679
8,137
5,326
1,079
3,526
5,759
4,767
8,146
5,279
1,067
3,562
5,779
4,833
8,759
5,653
1,087
3,490
5,933
5,075
8,797
5,831
1,126
1.41
r
35, 218 39,098 40, 534 40, 287
1,909
2,054 ' 2, 245 2,241
5,670
6,525 6,606
6,270
2, 891 3,120 ' 3, 251 3,189
2,029
2,330 ' 2,407 2,549
3,803
6,421
5,269
9,795
6,677
1,066
' 3,823
' 6,857
' 5,438
9,870
' 6, 646
' 1,108
6,809
5,288
9,615
6,343
1,109
30,897 •32, 016 31,803
10,184 10,818 10, 456
522
507
'516
2,572 ' 2,826 2,646
2,578 ' 2, 663 2,671
5,482 ' 5, 598 5,806
2,564 ' 2,519 2,584
1,671
1,591
r 1, 641
71,111
68, 299 69,123
'70, 081
39,378
38,056 38,336
2,195
2,203
2,229 38,614
5,835
6,167 ' 2, 294 6,139
2,899
2, 935
6,175
3,098
2,114
2,275 ' 3, 058 2,417
' 2, 293
3,823
3,688
3,812 '3,779
6,551
6,200
6,084 '6,316
5,540
5,320
5,282 ' 5,328
9, 444
9,184 ' 9, 085 9,319
6,311
6,109 ' 6, 048 6,071
1,137
1, 085
1,086 ' 1,100
2,442
4,833
2,495
1,452
3,473
6,033
5,003
8,391
5,508
1,096
ing are shown below and on p. S-6; those for wholesale and retail trade on pp. S-ll and S-12.
tSee corresponding ncte on p. S-4 and note marked " t " on pp. S-ll and S-12.
+bee
corresponding
note on p. S-7.
9 Includes data for items not shown separately.
c
Corrected.
3,460
5,666
4,751
8,159
5,336
1,042
CURRENT BUSINESS
SURVEY
S-6
Unless otherwise stated in footnotes below, data
through 1970 and descriptive notes are as shown
in the 1971 edition of BUSINESS STATISTICS
1971
1972
| 1972
Annual
June 1973
Apr.
May
June
July
Aug.
1973
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
31,467 31,733
10,766 10, 682
'533
535
' 2,729 2,723
'
2,579
2,664
r
5, 430 5,431
' 2, 583 2,625
' 1,577 1,588
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:t
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.
Supplementary series:J
Household durables
doCapital goods industriescf.
de.
Nondefense
_ _do.
Defense.
do.
Inventorles, end of year or month:J
Book value (unadjusted), total
Durable goods industries, total
Nondurable goods industries, total
27,638
9,026
501
2,338
2,342
4,680
2,359
1,464
27,708
9,195
511
2,294
2,343
4,635
2,248
1,456
28,102
9.288
505
2,445
2,365
4,782
2,281
1,442
27,810
9,210
505
2,337
2,376
4,693
2,370
1,426
28,642
9,485
517
2,372
2,407
4,852
2,397
1,547
9,605
511
2,422
2,383
4,846
2,437
1,594
28,639
9,411
533
2,214
2,412
4,907
2,377
1,536
29,803
9,869
549
2,426
2,453
4,983
2,476
1,546
30,009
10,055
525
2,520
2,419
5,235
2,517
1,501
30,243
10,126
543
2,547
2,541
5,135
2,514
1,559
30,787
10,327
540
2,606
2,537
5,402
2,521
1,562
i 67,077 i 75,776 6,231
i1131,852 1144,334 11,662
94,935 1107,153 8,836
162,573 J 71,346 5,946
1
57,438 i 66, 057 5,389
1
253,084 i 283,607 23,155
6,242
11,918
9,017
5,835
5,496
22,905
6,235
11,994
5.526
5,447
23,139
6,123
11,802
8,934
6,020
5,442
23,314
6,358 6,419
12,205 12,233
8,968
9,032
6,117 6,060
5,632 5,612
24, 072 24,547
12,130
9,287
6,410
5,699
24,760
7,020
12,605
9,464
6,610
5,772
25,082
6,811
12,732
9,455
6,246
5,719
25,424
6,909
12,816
9,970
7,039
5,880
25,685
6,921 r 7, 062
13,048 13,473
9,693 r 9,849
6,891 r 6, 906
6,154 r 6,182
26,416 26,609
7,483
13,396
10,346
6,873
6,213
26,800
i 28, 995 i 35,199
Ull,652 1125,809
i1 90, 049 1104,746
21,603 121,063
2,913
10,448
8,694
1,754
2,841
10,389
8,750
1,639
2,902
10,480
8,677
1,803
3,034
10,564
8,872
1,692
3,016
10,897
9,038
1,859
3,310
11,008
3,216
11,008
9,256
1,752
3,184
11,733
9,721
2,012
3,271
11,460
9,562
1,898
3,526
11,987
10, 078
1,909
2,883
10,320
8,574
1,746
do.
do..
do..
101, 293
65, 446
35, 847
106,645 103, 251 103, 777
69, 696 67,181 67,682
36,949 36, 070 36,095
107,047 102,428
3,000
10,632
8,815
1,817
9,207
1,801
3,346
11, 607
9,703
1,904
103,669 103,446 104,682 104,470 105,311 105, 849 106,645 107,817 108,955 -•110,029 110,510
67,570 67,485 68,444 68,359 68,840 69, 233 69,696 70,535 71,339 ' 72,255 72,786
36,099 35,961 36,238 36,111 36,471 36,616 36,949 37,282 37,616 r 37,774 37,724
do
101,665
102,822 103,505 103,888 105,138 105,441
106,008 106,371 107,047 107,549 108,414 ••109,588 109, 590
do.
do
do
do
do
65, 874
2,279
9,205
4,901
3,463
70,144
2,381
9,619
5,244
3,423
66, 575
2,272
9,553
5,247
3,446
67,035
2,260
9,600
5,284
3,456
67,427
2,282
9,696
5,370
3,463
67,645
2,285
9,709
5,392
3,459
68,542
2,337
9,759
5,385
3,504
68,834
2,387
9,761
5,411
3,479
69,330
2,385
9,664
5,347
3,434
69,641
2,378
9,617
5,321
3,390
70,144
2,381
9,619
5,244
3,423
70,632
2,372
9,567
5,172
3,427
71,117
2,345
9,483
5,061
3,454
71,940
' 2,392
"•9,398
' 4, 957
r
3,478
72,112
2,388
9,415
4,957
3,461
Fabricated metal products
doMachinery, except electrical
do.
Electrical machinery
do
Transportation equipment
do.
Motor vehicles and parts
do.
Instruments and related products, .do
7,268
13,497
9,837
15,179
3,933
2,452
7,122
7,551
14,129 13,390
10,423
9,888
16, 724 15, 536
4,292
4,086
2,615
2,510
7,185
13,396
9,968
15,722
4,128
2,539
7,220
13,445
9,986
15,919
4,140
2,486
7,157
13,442
10,046
15,999
4,213
2,541
7,340
13,534
10,154
18,477
4,523
2,551
7,605
7,541
7,425
13, 700 13,747 13,944
10,237 10, 262 10,323
16,326 16,486 16,581
4,319
4,358
4,297
2,571
2,613
2,625
7,551
14,129
10,423
16,724
4,292
2,615
7,638
14,202
10,715
16,820
4,205
2,576
7,813
14,346
10,787
16,954
4,267
2,530
' 7, 968
14,522
10,984
17,186
' 4, 409
' 2, 596
7,825
14, 662
11,102
17,175
4,528
2,596
By stage of fabrication:t
Materials and supplies 9
do
Primary metals
do
Machinery (elec. and nonelec.)...do
Transportation equipment
do
19,146
3,495
6,250
2,937
19, 870 18,939
3,465
3,542
6,625
6,237
2,734
2,810
18,995
3,528
6,250
2,814
18,804
3,543
6,180
2,728
19,256
3,499
6,208
2,789
19,519
3,468
6,262
2,969
19,468
3,457
6,346
2,822
19,701
3,440
19,812
3,460
6,515
2,807
19,870
3,465
6,625
2,734
20,196
3,520
6,780
2,739
20,337
3,527
6,858
2,719
20,486
3,468
r 6, 984
-• 2,795
20,643
3,490
7,080
2,816
Work in process9.
do
Primary metals
do
Machinery (elec. and nonelec.)...do
Transportation equipment
do
29,645
3,044
10,271
10,868
32,693 30,240
3,336
3,257
10, 985 10, 210
12,786 11,346
30,562
3,282
10,290
11,496
30,982
3,329
10,402
11,779
30,786
3,354
10,384
11,779
31,153
3,400
10,521
11,832
31,529
3,394
10,635
11,998
32,070 32,321
3,350
3,303
10, 697 10,847
12,348 12,537
32,693
3,336
10,985
12,786
32,952
3,332
11,143
12,900
33,262 33,729
3,338 "• 3,339
11,258 11,422
13,033 13,157
33,785
3,400
11,572
13,104
Finished goods 9
do
Primary metals
do
Machinery (elec. and nonelec.)---do
Transportation equipment
do
17,083
2,666
6,813
1,374
17,581
2,818
6,942
1,204
17,396
2,754
6,831
1,380
17,478
2,790
6,824
1,412
17,641
2,824
6,849
1,412
17,603
2,856
6,896
1,431
17,870
2,891
6,905
1,676
17,837
2,910
6,956
1,503
17,559
2,874
6,923
1,238
17,508
2,854
6,905
1,237
17,581
2,818
6,942
1,204
17,484
2,715
6,994
1,181
17,518
2,618
7,017
1,202
17,725
•• 2, 591
' 7,100
" 1, 234
17,684
2,525
7,112
1,255
Nondurable goods industries, total9..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:t
Materials and supplies
do
Work in process
do
Finished goods
do
35,791
9,169
2,235
3,622
2,772
6,693
2,266
2,151
36,903
9,294
2,456
3,842
2,799
6,846
2,200
2,332
35, 853 35,787
8,987
9,111
2,231
2,260
3,817
3,780
2,749
2,731
6,663
6,648
2,208
2,199
2,274
2,230
36,078
9,156
2,206
3,812
2,742
6,690
2,213
2,252
36,243
9,279
2,196
3,834
2,743
6,717
2,228
2,252
36,596
9,429
2,272
3,810
2,758
6,728
2,254
2,276
36,607
9,306
2,314
3,786
2,797
6,751
2,272
2,256
36,678 36,730
9,322 9,294
2,329
2,390
3,859
3,867
2,786
2,793
6,801
6,831
2, 261 2,264
2,255
2,277
36,903
9,294
2,456
3,842
2,799
6,846
2,200
2,332
36,917
9,459
2,414
3,844
2,807
6,813
2,154
2,319
37,297
9,629
2,429
3,889
2,794
6,798
2,162
2,324
37,648
" 9, 680
• 2, 400
• 4, 004
' 2,825
• 6, 765
•
2,139
1
2,346
37,478
9,588
2,410
4,029
2,810
6,787
2,154
2,354
13,526
5,340
16,925
13,809
5,656
17,438
13,499
5,462
16,892
13,464
5,381
16,942
13,635
5,412
17,031
13,596
5,433
17,214
13,671
5,492
17,433
13,711
5,552
17,344
13,678
5,605
17,395
13,736
5,600
17,394
13,809
5,656
17,438
13,926
5,622
17,369
14,224
5,674
17,399
14,339
5,796
17,513
14,322
5,763
17,393
10,851
13, 978
26,347
5,240
8,178
37,071
11,793
14,357
28, 206
5,742
8,661
38, 288
10,960
13,901
26,523
5,413
8,118
37,513
11,113
13,780
26,597
5,499
8,164
37,669
11,288
13,931
26,744
5,533
8,181
37,828
11,372
14,071
26,800
5,633
8,174
37,838
11,465 11,524
14,262 14,315
27,026 27,282
5,974 5,753
8,287 8,433
38,124 38,134
11,593 11,633
14, 236 14, 259
27,452 27,815
5,806
5,759
8,653
8,577
38,328
11,793
14,357
28,206
5,742
8,661
38,288
11,841
14,332
28,509
5,725
8,680
38,462
12,120
14,480
28,692
5,807
8,674
38,641
12,312
14,515
28,928
' 5, 961
• 8,796
39,076
12,160
14, 468
29,057
6,102
8,709
39, 094
4,974
29,664
24,313
5,351
5,471
31,598
25,549
6,049
5,029
29,824
24,208
5,616
5,171
29,939
24,326
5,613
5,220
30,116
24,476
5,640
5,277
30,138
24,453
5,685
5,294
30,396
24,661
5,735
5,319
30,642
24,906
5,736
5,373
30,806
24,940
5,866
5,411
31,165
25,242
5,923
5,471
31,598
25,549
6,049
5,534
31,990
25,807
6,183
5,636
32,200
25,920
r
62,112 68,778
33,238 38,447
28,874 30,331
67,748
37,792
29,958
67,102
37,167
29,935
65,071
36,350
28,721
66,194
37, 737
28,457
72,784
41,663
31,121
76,468 74,829
44, 257 42,836
32,211 31, 993
Book value (seasonally adjusted), totalj
By industry group:
Durable goods industries, total 9
Stone, clay, and glass products
Primary metals
Blast furnaces, steel mills
Nonferrous metals
By market category:t
Home goods and apparel
do
Consumer staples
...do.
Equip, and defense prod., excl. auto~__~IdoIIII
Automotive equipment
do
Construction materials and supplies....do
Other materials and supplies
do.
Supplementary series :J
Household durables
do
Capital goods industriesd*
do
Nondefense
do
Defense
do
New orders, net (not seas, adj.), totalj...
Durable goods industries, total
Nondurable goods industries, total
. do
do
do
665,678 760,412
357, 214 420,526
308,464 339,886
62,498 61, 727 66, 733 57,930
34, 780 34, 254 37,592 31,457
27, 718 27,473 29,141 26,473
...do.
1665,678 1760,412
2,900
1
5, 660 5,646
32,523 32, 663
26,318
26,165
r
6,358 6,345
61,685
62,012
63,734
62,270
64,409
65,776
65,454
67,587
67,668
69,838
71,042
73,993
73,597
420,526 34,005
65, 090 4,999
32,176
2,343
24, 228 1,994
34,302
5,339
2,659
1,961
35,613
5,442
2,765
1,950
34,430
5,426
2,711
1,999
35, 727 36,851
5,967 5,859
3,004 2,936
2,174 2,175
36,759
5,727
2,927
2,023
37,619
5,914
3,008
2,132
37, 562
5,968
2,976
2,179
39,414
6,206
3,123
2,253
40,087
6,666
3,447
2,406
42,342
7,510
4,107
2,489
41,726
6,925
3,535
2,487
3,401
5,654
4,833
8,111
2,081
3,373
5,668
4,841
7,867
2,079
3,505
5,923
4,775
8,781
3,300
3,501
5,728
4,621
8,181
1,901
3,556
5,853
4,778
8,302
2,235
3, 554
6,074
5,174
8,990
2,228
3,417
6,423
5,322
8,849
2,178
3,811
6,583
5,189
8,480
2,054
3,882
6,709
5,262
9,837
2,337
4,045
6,509
5,563
9,330
2,017
4,044
7,046
5,844
9,785
' 2, 200
3,880
7,018
5,667
9,975
2,500
Nondurable goods industries, total
do. . 308,464 339,886 27, 680 27,710 28,121
80, 705 91,888
7,489
7,668
7,533
Industries with unfilled orders©
do
227, 759 247, 998 20,147 20,221 20,453
Industries without unfilled orders!
do
2
' Revised..
i Based on data not seasonally adjusted.
Advance estimate; total mfrs.
newfor
orders
for Apr. 1973 do not reflect revisions for selected components.
tSee correspondDigitized
FRASER
ing note
on p. S-7.
9 Includes data for items not shown separately.
cf Capital goods
industries series is comparable to the previous producers' capital goods and defense products
http://fraser.stlouisfed.org/
27,840
7,616
20,224
28,682
7,765
20,917
New orders, net (seas, adj.), total*
By industry group:
Durable goods industries, total 9..
Primary metals
Blast furnaces, steel mills
Nonferrous metals
Fabricated metal products
Machinery, except electrical
Electrical machinery
Transportation equipment
Aircraft, missiles, and parts
Federal Reserve Bank of St. Louis
do
do..
do..
_do.
357,214
54,537
26,362
21, 095
do
do
do
.do
do
37,805
58,837
50,398
83,808
19, 273
41,897
70,013
58,161
99, 561
25, 419
3,691
6,006
5,025
8,758
2,275
28, 925 28,695 29,968 30,106 30,424 30,955 31,651 31,871
7,710
7,784
8,049
7,951
8,512
8,163
8,289 '8,463
21,141 20, 985 21,919 22,155
22,261 22,666 23,188 23,359
(old series) categories.
©See corresponding note on p. S-7.
1fFor these industries (food and kindred products, tobacco manufactures, apparel and
other textile products, petroleum and coal products, chemicals and allied products, and
rubber and plastics products) sales are considered equal to new orders.
June 1973
51JNEJ
SUKVEY CF (
Unless otherwise stated in footnotes below, data
through 1970 and descriptive notes are as shown
in the 1971 edition of B U S I N E S S STATISTICS
1971
1973
1972
1972
Apr. 1 May
Annual
S-7
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
i
GENERAL BUSINESS INDICATORS—Continued
M A N U F A C T U R E R S ' SALES, I N V E N T O R I E S ,
AND ORDERSJ— Continued
New orders, net ^seas. adj.) J—Continued
By market category:
Home goods and apparel
Consumer staples
E q u i p , and defense prod., excl. auto
Automotive equipment
Construction materials and supplies
Other materials and supplies
Supplementary series:
Household durables.
Capital poods industries If
'.
Nondefense
Defense
6,359
11,919
8,895
5,782
5,470
23,587
6,318
11,978
10,501
5,499
5,544
23,894
6,036
11,805
8,819
6,098
5,534
23,978
6,350
12,204
8,856
6,149
5,666
25,184
6,523
12, 225
10,050
6,094
5,790
25,094
6,520
12,125
9,585
6,556
5,661
25,007
6,935
12,609
10,043
6,649
5,724
25,627
6,732
12,738
10,381
6,288
6,083
25,446
7,093 '7,137
6,817
7,568
12, 821 13,047 13,475 13,398
10,415 10,233 11,394 11,275
7,032 ' 6,974 6,968
7,224
6,302
6,048
6,292
26,513 27,335 '28,533 28,096
2,945
10,744
8,785
1,959
3,012
10,569
9,036
1,533
2,925
12,172
9,228
2,944
2,807
10,617
9,100
1,517
3,019
10,717
9,211
1,506
3,094
3,113
11, 762 11,359
9,694
9,519
1,665
2,243
3,210
11,676
9,762
1,914
3,140
11,767
10,072
1,695
3,087
12,342
10,433
1,909
84, 611
80, 665
3,946
76,396
72,837
3,559
76,071
72,476
3,595
77, 619 79,189
74,028 75,585
3,604
3,591
79,815
76,234
3,581
81,518
77, 901
3,617
82,225
78,504
3,721
83,015
79,115
3,900
84,611 87, 288 90,076 '94,001 98,737
80, 665 83,181 85,744 89,474 92,019
3,946
4,107
4,332 ' 4,527 4,718
73,004
85,226
75,506
76,103
78,608
79,241
80,299
82,180
82,906
83,947
85,226
69,901
6,043
3,432
1,744
81, 231
8,474
5,321
2,063
71,983
6,350
3,606
1,874
72,579
6,759
3,907
1,963
75,064
7,242
4,366
1,979
75,667
7,563
4,706
1,931
76,686
8,138
5,146
2,013
78, 506 79,174
8,361
8,335
5,295
5,305
2,066
1,979
80,047
8,503
5,381
2,053
81, 231 82,589
8,474
8,845
5,321
5,509
2,202
2,063
84,345
9,344
5,858
2,333
88,065 90,415
10, 679 11,467
' 6,907 7,544
' 2,529 2,600
do
do
do
do
do
9,442
12,632
14,430
21,289
14,322
10,364
15,522
15,342
25,009
16,643
9,628
13,156
13,999
22,611
14,553
9,557
13,258
14,171
22,540
14,689
9,664
13,586
14,340
23,833
16,086
9,843
13,749
14,284
23,880
16,010
9,939
13,936
14,310
24,025
16, 267
10,104
14,184
14,571
24, 639
16,484
10,097
14,477
14,910
16,564
10,025
14,969
15,157
24,922
16,645
10,364
15, 522
15,342
25,009
16, 643
10,557
16,033
15,281
25,404
16,699
10,790
16,458
15, 562
25,554
16,593
'11,054
'17,186
'16, 076
26, 253
'16, 757
11,111
17, 655
16,204
26,906
16,915
Nondur. goods ind. with unfilled orders®..do
3,103
3,995
3,523
3,524
3,544
3,574
3,613
3,674
3,732
3,900
3,995
4,179
4,346
' 4,530
4,669
do
do
do
do
2.224
38,395
9,238
23,147
2,529
43,752
10,056
28,889
2,421
39,374
9,406
24,305
2,539
39,199
9,379
24,986
2,519
2,607
40,785 40,751
9,567
9,474
25, 742 26,404
2,510
40,671
9,601
27,517
2,604
41,728
9,778
28,070
2,680
42,169
9,740
28,317
2,601
42,785
9,692
28,869
2,529
43,752
10,056
do
do
do
do
1,810
43,483
25,385
18,098
2,064
49, 948
29,814
20,134
2,077
1,977
44,733 44,853
25, 502 25,842
19,231 19,011
2,162
46,637
26,322
20,315
2,064
2,049
46,779 46,929
26, 747 27,084
20,032 19,845
2,161
2,238
48,065 48,522
27,792 28,444
20, 273 20,078
2,139
49,191
29,000
20,191
2,064 1,964
2,132
49, 948 50, 559 51,104
29, 814 30,528 31,007
20,134 20, 031 20,097
New incorporations (50 States and Dist. Col.):
Unadjusted©
n u m b e r . . 287,577
Seasonally adjusted©
do
316,601
26,414
26,681
28,030
26,243
28,331
26,303
26,103 26,118
26, 815 26,420
24,761
26,798
26,736
27,417
23,991
26,387
26,059
27,614
30,114
27,173
9,566
1,252
1,375
1,576
4,398
965
121
102
134
355
115
128
127
398
730
88
81
126
338
97
824
101
124
147
372
730
106
103
107
352
62
755
88
106
125
363
73
799
91
127
121
393
67
708
98
118
108
308
76
772
90
105
125
376
76
113,540 152, 974 208,583
13,807 14,072 17,502
9,435 12, 737 22,044
50,938 47, 907 52,284
31,597 63,580 105,445
7,763 14,678 11,308
86,786
16,089
13,728
19, 266
22,401
15,302
205, 837
17, 526
20, 282
115, 440
37, 826
14, 763
2 76, 074 6,290
2144,333 11,666
2 111,981 9,012
5,940
2 71,878
5,355
2 66,861
2 289,285 23,422
mil. $ . .
do
do
do
do
do
2 67,288
2131,891
2 94,865
2 62,926
2 56,867
2251,841
do
do
..do
.do
2 29,173 2 35,451
2111,015 2132,258
2 88,777 2109,146
2 22,238 2 23,112
72,478
69, 415
3,063
Unfilled orders, end of year or month (unadjusted),
total*
mil. $__
Durable goods industries, total
do
Nondur. goods ind. with unfilled orders©.__.do
Unfilled orders, end of year or month (seasonally
adjusted), totalt
mil. $._
By industry group:
Durable goods industries, total 9
__do
Primary metals
do
Blast furnaces, steel mills
do
Nonferrous metals
do
Fabricated metal products
Machinery, except electrical
Electrical machinery
Transportation equipment
Aircraft, missiles, and parts
By market category:?
Home goods, apparel, consumer staples
Equip, and defense prod., incl. auto
Construction materials and supplies
Other materials and supplies
Supplementary series:J
Household durables
Capital goods industries^
NondefenseDefense
86,768
3,439
11,998
10,036
1,962
3,412
13,176
10,923
2,253
88,691 '92,595
2,441
2,614 ' 2, 690
44,383 45,066 46,675
10, 226 10,374 10, 671
29,718 30,637 '32,559
3,592
13,071
10,797
2,274
95,084
2,777
47,698
10,750
33,859
2,197
2,263
52, 667 53,751
32, 222 32, 942
20,445 20,809
BUSINESS I N C O R P O R A T I O N S ^
I N D U S T R I A L AND C O M M E R C I A L
FAILURES©"
Failures, total
number..
Commercial service
do
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..
10,326
1,464
1,545
1,932
4,428
957
1,916,929 2,000.244 .48,467
356,923 231,813 14,142
8,518
222,357 193,530
712,611 766,991 60,566
444,086 558, 270 48,870
180,952 249, 640 16,371
2
41.7
2 38.3
740
103
92
127
344
74
90,139 127,900 204,624 253,619
29,482 14,228 18,022 16, 058
7,619 22, 000
16,980 10,447
32,323 48,979 112,769 114,160
35,848 27,036 45,419 87,812
75,506 27, 210 20,795 13, 589
36.5
34.2
38.5
40.5
39.1
38.8
38.5
'328
'329
'264
'300
'332
26, 821 '31,910
28, 640 P29,861
753
85
94
126
378
70
874
117
115
137
411
94
796
94
119
112
396
75
137,162 252,349 119,343
5,407 37, 065
8,071
18,490 21,120 19,202
73,929 84, 669 38,588
30,184 73,237 33,528
9,152 36,258 19,954
37.4
34.9
36.0
35.9
35.2
'349
379
299
395
199
216
243
301
704
447
392
612
179
405
316
411
222
218
251
331
704
481
388
669
204
400
324
463
229
220
262
316
COMMODITY PRICES
PRICES RECEIVED AND PAID BY
FARMERS
Prices received, all farm products
Crops 9
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
285
'320
'304
••242
'322
'206
261
'327
'243
619
321
354
402
133
313
258
321
268
180
170
275
666
'318
'261
'316
'264
183
192
280
685
253
337
260
174
168
259
666
'371
'366
'494
'137
348
353
462
123
359
349
487
123
'366
'345
'502
'126
352
382
331
371
401
350
365
396
'342
366
398
344
410
433
427
428
185
167
••261
180
166
'303
178
164
'276
'677
'377
'350
'324
'265
'322
'258
178
183
264
'332
206
187
'265
136
'277
'704
'383
'391
'497
'151
168
365
295
402
187
223
283
282
707
424
391
560
192
272
287
'354
'336
216
229
'192
'512
'188
'228
'325
'702
'385
'383
'513
'209
'314
••717
'383
239
216
221
283
515
136
'293
'717
'375
'361
'508
'133
369
400
348
372
403
349
372
403
349
376
406
356
377
404
358
381
408
361
386
410
369
394
414
379
401
421
386
409
426
396
413
433
399
431
433
433
437
440
443
449
458
465
473
480
80
82
86
83
665
'69
' 74
74
73
71
' Revised.
v Preliminary.
i Advance estimate; total mfrs. unfilled orders for Apr.
1973 do not reflect revisions for selected components.
2 Based on unadjusted data.
% Revised back to 1966 to reflect benchmarking to the Annual Survey of Mfrs. for 1966-70 and
of new seasonal factors; revisions back to 1966, new seas, factors, and other techDigitizedcalculation
for
FRASER
nical data appear in a special Census Bureau report entitled Mfrs.' Shipments, Inventories,
and Orders: 1966-72, M3-1.4, Revised (available from1 Publications Distribution Section,
http://fraser.stlouisfed.org/
SESA, Wash., D.C. 20233).
\ See note marked "tf " on p. S-6.
Federal Reserve Bank of St. Louis
323
'259
'308
'258
75
75
373
145
'75
75
75
704
'402
'391
'527
78
'707
466
381
638
211
© Includes textile mill products, leather and products, paper and allied products, and
printing and publishing industries, unfilled orders for other nondurable goods are zero.
9 Includes data for items not shown separately.
cf Compiled by Dun & Bradstreet,
Inc. (failures data for 48 States and Dist. of Col.).
O Revisions for Jan.-Dec. 1970 (unadj.)
and Mar. 1970-Dec. 1971 (seas, adj.) will be shown later.
§ Ratio of prices received to prices
paid (parity index).
UUKJ XUJN
S-8
Unless otherwise stated in footnotes below, data
through 1970 and descriptive notes are as shown in
the 1971 edition of BUSINESS STATISTICS
1971
SB
June 1973
1972
1972
Apr.
Annual
J. 15 U
May
June
July
Aug.
1973
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
COMMODITY PRICES—Continued
CONSUMER PRICES
(U.S. Department of Labor Indexes)
Unadjusted indexes:
All items
Special group indexes:
All items less shelter
All items less food
All items less medical care..
1967=100_
121.3
125.3
124.3
124.7
125.0
125.5
125.7
126.2
126.6
126.9
127.3
127.7
128.6
129.8
130.7
do___
do___
.do...
119.3
122.1
120.9
122.9
125.8
124.9
122.1
124.9
123.9
122.4
125.4
124.3
122.7
125.7
124.6
123.1
125.9
125.1
123.2
126.1
125.3
123.8
126.7
125.9
124.2
127.1
126.2
124.6
127.4
126.6
124.8
127.6
126.9
125.3
127.4
127.3
126.4
127.9
128.2
127.8
128.4
129.5
128.9
129.1
130.5
do_.
do_.
do..
do_.
do..
do..
do..
117.4
117.7
117.0
116.5
116.8
128.4
130.8
120.9
121.7
119.8
118.9
119.4
133.3
135.9
119.9
120.7
119.1
117.7
118.5
132.4
135.0
120.3
121.0
119.7
118.4
119.2
132.7
135.3
120.7
121.2
119.5
119.2
119.4
133.1
135.7
121.2
121.7
119.3
119.6
119.4
133.5
136.2
121.4
122.0
119.4
119.7
119.5
133.8
136.4
122.0
122.8
120.8
119.8
120.3
134.1
136.7
122.3
123.1
121.3
120.1
120.8
134.6
137.2
122.7
123.5
121.7
120.3
121.0
134.9
137.6
122.9
123.8
121.7
120.3
121.1
135.4
138.0
123.4
124.7
120.9
119.9
120.5
135.7
138.3
124.5
126.2
121.6
119.9
120.9
136.2
138.7
126.1
128.3
122 A
120.2
121.5
136.6
139.2
127.4
129.7
123.3
121.0
122.3
137.0
139.6
Food 9
do.
Meats, poultry, and fish
do_.
Dairy products
do_.
Fruits and 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.
118.4
116.9
115.3
119.1
124.3
128.8
115.2
133.7
115.1
117.5
114.7
118.1
119.8
118.6
116.6
112.0
110.2
137.7
122.2
128.4
116.8
119.3
123.5
128.0
117.1
125.0
129.2
134.5
119.2
140.1
120.1
118.5
120.5
121.0
122.3
119.9
117.5
111.0
110.5
143.4
126.1
132.5
119.8
122.8
122 A
125.9
117.4
122.1
128.2
133.0
118.4
138.5
119.9
118.6
120.2
120.5
121.8
118.6
116.1
111.7
106.4
142.7
125.5
131.7
119.1
122.3
122.3
124.8
117.3
123.9
128.5
133.4
118.6
138.9
120.1
118.7
120.5
120.8
122.5
119.5
117.1
111.4
110.0
142.7
125.8
132.0
119.7
122.5
123.0
126.4
117.0
127.2
129.0
134.1
119.0
139.6
120.1
117.8
120.3
121.0
122.1
119.8
117.3
111.3
112.0
143.0
126.1
132.4
120.0
122.9
124.2
129.9
116.8
128.4
129.5
134.9
119.2
140.7
120.2
117.7
120.3
121.1
121.1
120.3
117.8,
111.0
112.7
143.3
126.3
132.7
120.0
123.0
124.6
130.8
116.6
128.1
129.9
135.5
119.6
141.3
120.1
117.9
120.5
121.2
120.8
120.5
118.1
110.6
112.4
143.3
126.5
132.9
120.2
123.0
124.8
130.9
116.9
125.7
130.1
135.7
119.9
141.5
120.3
118.0
120.5
121.6
123.1
121.0
118.6
109.6
113.6
144.0
126.8
133.1
120.5
123.7
124.9
131.3
117.1
124.5
130.4
136.0
120.3
141.8
120.6
118.1
120.9
121.8
124.3
121.2
118.7
110.1
115.2
144.1
127.2
133.9
120.8
124.0
125.4
131.5
117.7
126.5
130.8
136.2
120.5
142.0
121.7
119.3
122.2
122.1
125.0
121.4
119.0
110.2
116.0
144.1
127 A
134.1
121.0
124.1
126.0
131.2
118.3
127.3
131.2
136.8
121.0
142.6
121.9
119. 4
122.5
122.3
125.0
121.3
118.9
110.6
115.0
144.5
127.5
134.4
121.5
124.0
128.6
136.1
119.1
130.5
131.4
136.9
121.5
142.6
122.8
120.7
124.1
122.2
123.0
121.0
118.5
111.1
112.8
144.3
127.8
134.9
121.8
124.1
131.1
142.8
121.0
133.3
132.0
137.3
122.1
142.9
124.1
127.2
124.5
122.6
123.6
121.1
118.7
111.0
112.4
144.3
128.1
135.3
122.4
124.3
134.5
152.7
121.5
136.8
132.3
137.7
122.6
143.2
124.6
127.8
125.0
123.0
124.8
121.5
119.1
110.8
113.7
144.5
128.6
135.8
123.1
124.5
136.5
155.4
121.8
141.8
132.8
138.1
123.0
143.6
125.1
128.3
125.5
123.6
125.8
122.6
120.3
111.1
117.3
143.9
129.2
136.2
123.8
125.2
1108.0 1 120. 0
1109. 3 1 115.0
1107. 1 i 123. 0
115.6
110.1
119.5
119.1
112.7
123.7
119.8
114.4
123.7
121.0
115.8
124.6
122.7
119.7
124.8
124.5
119.4
128.1
126.2
118.7
131.6
130.8
125.0
134.8
134.4
127.5
139.3
143. 0
136. 6
147.5
149.9
142.3
155.3
152.9
145.4
158.2
118.8
119.7
119.9
120.2
120.0
120.7
122.9
124.5
126.9
129. 7
130.7
Commodities
Nondurables
Nondurables less food..
Durables 9
Commodities less food.
Services
Services less rent
WHOLESALE PRICESa1
(U.S. Department of Labor Indexes)
Spot market prices, basic commodities:
22 Commodities
1967=100..
9 Foodstuffs
_
do
13 Raw industrials
do
All commodities
By stage of processing:
Crude materials for further processing
Intermediate materials, supplies, etc
Finished goodsO
Consumer finished goods
Producer finished goods
By durability of produ<ct:
Durable goods
Nondurable goods
Total manufactures
Durable manufactures
Nondurable manufactures
do....
113.9
119.1
117.5
119.2
112.2
124.3
118.2
do
do
do
do
do
115.0
114.0
113.5
112.7
116.6
127.6
118.7
117.2
116.6
119.5
123.0
117.7
115.8
114.8
119.3
125. 5
118.2
116.4
115.5
119.4
127.2
118.5
116.9
116.1
119.6
130.1
118.8
117.8
117.3
119.7
130.3
119.2
117.9
117.4
119.8
130.3
119.7
118.2
117.7
119.9
129.2
119.9
117.6
117.1
119.7
130.4
120.6
118.3
117.9
119.9
138.3
122.3
119.5
119.3
120.3
143.3
123.1
121.0
121.2
120.6
151.3
125.1
122^5
122 9
121.2
159.0
127.4
124.6
125. 5
121.7
158.8
128.5
125.6
126.6
122.3
.do.
do.
do
do.
do.
117.0
111.7
113.8
117.0
110.5
121.0
116.2
117.4
121.0
113.6
120.0
121.2
117.0
117.8
121.3
114.3
121.4
118.5
118.3
121.5
115.1
121.6
118.6
118.5
121.7
115.1
121.8
119.1
118.8
121.9
115.6
121.7
118.8
118.8
121.7
115.8
121.8
120.0
119.2
121.8
116.5
122.1
122.7
125.7
121.6
122.6
120.6
123.9
129. 2
123.6
123.7
123.5
125.6
132.9
125. 7
125.4
125.4
127.0
133.5
126.7
126.7
126.6
do
120.7
115.1
116.9
120.8
112.9
118.3
113.8
121.1
117. 6
117.9
121.1
114.7
122.4
121.3
124.0
123.8
124.5
123.3
125.3
132.6
137.0
142.4
149.0
147.9
Farm products 9
do
Fruits and vegetables, fresh and dried-doll..
Grains
_
_
do
Live poultry
do
Livestock
do
112.9
120.1
100.9
100.3
118.3
125.0
127.6
102.9
104.0
142.5
119. 1
117.6
96.0
94.1
133.8
122.2
120.6
97.5
96.3
139.8
124.0
121.7
94.5
102.9
146.4
128.0
129.9
96.3
118.4
152.4
128.2
138.9
99.8
106.8
148.1
128.6
138.1
109.5
112.3
144.9
125.5
122.8
109.2
103.8
144.2
128.8
141.8
113.6
102.8
139.5
137.5
134.6
137.6
103.6
152.6
144.2
151.2
135.6
127.9
159.4
150.9
146.9
128.2
137.0
177.8
160.9
158.5
126.1
164.8
194.4
160.6
176.0
130.9
185.8
184.1
Foods and feeds, processed 9
Beverages and beverage materials
Cereal and bakery products
Dairy products
Fruits and vegetables, processed
Meats, poultry, and
fish
do
do
do
do
do
do
114.3
115.8
111.4
115.4
114.3
116.0
120.8
118.0
114.7
118.6
119.7
130.0
117.7
117.2
112.8
117.5
118.3
123.6
118.6
117.2
113.3
117.4
119.0
126.8
119.6
117.8
113.3
115.3
119.5
131.4
121.5
117.9
113.6
117.7
119.6
135.8
121.0
118.9
115.3
118.6
120.2
132.3
121.8
119.1
116.1
119.0
120.1
131.7
121.8
118.8
116.9
120.0
121.8
130.4
123.1
119.4
118.3
121.8
123.8
127.9
129.4
119.7
120.1
123.0
124.7
136.3
132.4
119.8
121.0
123.8
125.3
145.2
137.0
120.0
120.8
124.0
125.9
153.1
141.4
120.8
121.3
126.8
126.2
165.1
139.8
121.4
123.7
127.2
126.6
163.2
do
114.0
117.9
117.3
117.6
117.9
118.1
118.5
118.7
118.8
119.1
119.4
120.0
121.3
122.7
124.4
do
do
do
do _
do
do
104.2
92.2
102.0
102.4
133.5
115.6
114.2
181.8
113.6
108.0
106.8
104.2
91.7
101.2
103.0
115.8
118.0
104.1
92.2
101.5
102.4
112.2
118.3
104.4
92.1
101.4
102.8
116.0
118.3
104.3
92.3
101.4
103.1
115.9
118.3
104.2
91.9
101.5
103.2
113.2
118.3
104.4
92.0
101.3
103.3
121.4
118.3
104.4
92.0
101. 3
103.1
116.4
118.3
104.4
92.1
100.8
103.3
117.2
118.2
104.7
92.4
100.9
103.6
123.2
118.2
104.8
92.5
101.0
103.7
128.2
118.2
105.1
93.0
101.4
103.5
130.3
119.4
105.6
93.1
101.8
103.6
139.1
119.4
106.7
93.6
101.9
103.8
173.9
119.9
107.7
94.5
102.6
103.8
184.0
120.3
118.6
193.8
121.5
114.1
108.9
116.9
191.2
120.5
112.5
106.6
117.5
191.2
121.2
113.0
107.3
118.2
191.2
121.5
112.9
108.5
118.6
191.2
122.1
113.2
109.1
119.7
191.5
122.1
114.3
110.7
120.3
192.2
122.6
116.7
111.3
120.6
192.4
123.1
117.5
111.5
121.3
201.2
123.0
119.0
111.5
121.9
205.5
122.9
119.2
112.0
122.2
205.5
123.8
118.4
112.3
126.0
206.9
125.9
118.6
118.7
126.7
207.4
126.8
118.9
119. 4
131.8
213.8
127.6
120.1
127.9
112.3
112.4
108.0
107.9
118.1
118.5
92.5
92.3
and fuels.
112.6
107.8
119.1
92.4
113.1
108.2
119.4
92.4
113.5
108.4
120.0
92.2
114.1
108.3
121.8
92.2
Farm prod., processed foods and feeds
Industrial commodities.
Chemicals and allied products 9
Agric. chemicals and chem. prod
Chemicals, industrial
Drugs and Pharmaceuticals
Fats and oils, inedible
Prepared paint
Fuels and related prod., and power 9 _ do _
Coal
do
Electric power
do
Gas fuels
_ do
Petroleum products, refined
Y.Y.V.do....
Furniture and household durables 9 . . .do
109.9
111.4
111. 1 111.2
111.0
Appliances, household
do
107.2
107.6
107.5
107.2
107.1
Furniture, household
do
114.8
117.3
116.9
117.1
117.2
Home electronic equipment
do
93.8
92.7
92.8
92.9
92.6
1
Computed by BEA.
9 Includes data for items not shown separately,
cf For actual
wholesale prices of individual commodities, see respective commodities.
111.7
111.4
112.0
112.0
107.3
107.7
108.1
108.0
117.4
117.8
117.7
117.7
92.4
92.4
92.9
92.9
©Goods to users, incl. raw foods
123.5
120.7
122.1
119.2
May
SURVEY OF C UKKJEJNT HUSJLJNES
June 1973
Unless otherwise stated in footnotes below, data
through 1970 and descriptive notes are as shown
in the 1971 edition of B U S I N E S S S T A T I S T I C S
1971
1972
1972
Annual
S-9
Apr.
May
June
July
Aug.
1973
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
Footwear
Hides and skins
Leather
Lumber and wood products
Lumber
1967 = 100.
do___
do___
do.__
do.__
do_-_
114.0
116.8
115.1
112.5
127.0
135.5
131.3
124.5
213.7
140.3
144.3
159.4
127.2
122.4
188.6
138.1
141.1
155.1
s
129.5
124.6
200.3
137.8
142.7
157.0
130.9
125. 8
204.1
138.6
144.2
159.0
131.6
126.5
212.5
138.1
146.1
161.6
134.6
126.5
243.0
140.6
148.1
164.1
135.7
126.8
244.0
143.5
148.5
165.1
139.8
127.0
270.8
153.3
149.2
166.1
144.0
128.5
287.0
162.6
149.4
166.8
142.2
128.7
255.2
162.2
149.8
167.9
143.9
129.0
274.0
162.8
151.0
169.0
144.9
130.9
272.7
162.9
161.0
182.3
143.5
131.1
246.4
164.5
173.2
195.8
145.0
131.5
270.2
161.1
182.0
207.2
Machinery and equipment 9
Agricultural machinery and equip
Construction machinery and equip
Electrical machinery and equip
Metalworking machinery and equip
do.__
do___
do___
do___
do.__
115.5
117.2
121.4
109.5
117.3
117.9
122.3
125.7
110.4
120.2
117.6
122.1
125.7
110.2
119.7
117.9
122.3
125.6
110.5
120.0
118.1
122.7
125.9
110.6
120.2
118.3
122.7
125.9
110.7
120.5
118.3
122.8
126.1
110.6
120.8
118.3
122.6
126.1
110.6
121.0
118.4
122.6
126.1
110.5
121.2
118.5
122.9
126.3
110.6
121.3
118.6
122.9
126.3
110.6
121.3
118.9
123.6
126.6
110.9
121.8
119.4
124.4
127.4
111.0
122.5
120.0
124.7
128.6
111.3
123.4
120.8
124.7
130.4
111.7
124.5
Metals and metal products 9
Heating equipment
Iron and steel
Nonferrous metals
do__.
do__.
do._.
do._.
119.0
115.5
121.8
116.0
123.5
118.2
128.4
116.9
123.5
117.9
128.3
117.6
123.6
118.1
128.3
117.8
123.6
118.6
128.1
117.6
123.5
119.0
128.3
116.8
123.7
119.2
128.6
116.8
124.0
119.2
128.8
117.4
124.1
119.2
128.9
117.3
124.1
119.2
129.0
117.2
124.4
119.2
129.5
117.4
125.6
118.8
131.9
117.9
126.9
119.2
133.0
121.0
129.2
119.5
133.3
128.3
130.5
120.5
134.0
131.4
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-__
122.4
126.1
125.6
125.9
125.8
126.2
126.7
126.9
127.3
127.3
127.4
128.2
128.4
129.0
130.0
114.2
120.6
106.8
110.1
114.1
109.2
109.2
117.3
125.6
114.7
113.4
116.3
109.3
109.2
117.2
125.1
114.9
112.8
115.9
108.7
108.4
117.2
125.1
113.4
113.2
115.9
108.8
108.4
117.4
125.3
113.9
113.5
116.2
108.9
108.7
117.5
126.0
115.7
113.7
116.7
109.2
109.5
117.5
126.1
116.1
114.1
116.7
109.5
109.7
117.5
126.3
115.2
114.3
116.7
109.5
109.7
118.4
127.2
115.5
114.7
116.8
109.5
109.7
118.8
127.3
115.0
115.0
117.3
109.8
109.7
118.9
127.5
114.8
115.1
117.5
109.8
109.7
120.3
128.5
117. 4
115.8
117.8
110.0
109.7
121.5
128.9
115.8
116.5
118.5
110.1
109.3
122.2
129.6
118.1
118.3
119.2
110.3
109.3
123.0
130.8
119.6
119.8
120.2
110.6
109.4
Textile products and apparel 9
Apparel
Cotton products
Manmade fiber textile products
Wool products
do.__
do__.
do___
do___
do._.
108.6
112.9
110.6
100.8
93.5
113.6
114.8
121.8
108.0
99.4
112.6
114.2
120.5
107.2
93.0
113.3
114.3
121.5
108.0
98.3
113.6
114.4
122.6
108.6
99.2
114.0
115.1
123.0
108.9
100.0
114.1
115.1
122.8
108.7
101.1
114.3
115.3
123.6
108.6
102.5
114.8
115.6
124.0
108.6
106.6
115.1
115.9
124.2
109.5
107.1
115.6
116.0
124.8
110.3
108.8
116.6
116.5
126.0
111.4
114.5
117.4
116.8
128.2
111.8
119.2
119.0
117.0
130.0
115.2
127.7
120.8
117.7
133.3
118.7
129.8
Transportation equipment 9.--Dec. 1968=100.
Motor vehicles and equip
1967 = 100.
110.3
114.7
113.7
118.0
'113.8
f
118.1
113.8
118.1
114.2
118.5
114.1
118.4
114.2
118.5
114.2
118.5
112.9
116.9
113.0
117.0
114.2
118.4
114.1
118.2
114.2
118.2
114.5
118.6
114.9
119.0
Miscellaneous products 9
Toys, sporting goods, etc
Tobacco products
112.8
112.6
116.7
114.6
114.4
117.5
114.1
114.0
117.4
114.1
114.1
117.5
114.2
114.4
117.5
114.9
114.5
117.5
115.1
114.5
117.5
115.2
114.8
117.5
115.0
114.9
117.5
115.0
115.0
117.5
115.1
115.1
117.5
115.8
116.2
117.5
117.1
116.5
121.0
117.9
117.1
121.8
118.6
117.2
122.0
$0.878
.824
$0. 840
.798
$0. 851
.805
$0. 846
.802
$0.842
.800
$0.835
.797
$0. 834
.796
$0.832
.792
$0. 833
.790
$0,829
.788
$0. 814
.786
$0. 803
.783
$0. 788
.778
$0. 771
.770
$0. 765
.765
'109,238 ' 123,836
' 9,683 '10,550 '11,015 '10,943 '11,420 '11,489 '11,571 '11,048 '10,502
' 9, 509
9,124
' 9, 987
10, 864
' 79,367
' 43,268
' 35,066
' 93, 640
' 54,186
' 44,736
' 7,391
' 4,235
' 3,405
' 7, 920
' 4,568
' 3,619
' 8,283
' 4,865
' 3, 912
r 8,307
' 4,981
' 4,065
' 8, 542
' 5,054
' 4,143
' 8, 597
' 5,075
' 4, 215
' 8,686
'5,046
' 4,236
' 8, 506
' 4, 946
' 4,181
' 8,114
' 4,677
' 3,954
7,277
4,177
3,553
6,916
' 3,911
3,328
' 7,570
' 4,252
' 3,557
8,280
4,739
3,816
22 479
5,423
11 619
24,036
4,676
13,462
1,928
382
1,066
2,041
393
1,155
2,075
416
1,161
2,017
398
1,132
2,144
415
1,203
2,171
401
1,252
2,221
397
1,274
2,121
399
1,187
2,051
420
1,137
1,929
391
1,088
1,862
360
1,051
' 2,063
'418
' 1,154
2,181
428
1,125
do__do...
do...
PURCHASING P O W E R OF T H E DOLLAR
As measured b y Wholesale prices
Consumer prices
1967=$1.00.
do...
CONSTRUCTION AND REAL ESTATE
CONSTRUCTION PUT IN PLACE 1
New construction (unadjusted), total 1
mil. $_.
Private total 9
do
do
Residential (including farm)
rin
New housing units
Nonresidential buildings, except farm and public utilities, total 9
mil $
do
Industrial
Commercial
do
Public utilities:
Telephone and telegraph
do
Public, total 9
do
Buildings (excluding military) 9
do
do
Housing and redevelopment
do
Industrial
do
Military facilities
do
Highways and streets
New construction (seasonally adjusted at annual
rates), total 1_ _
bil $
Private, total 9—
do
3,005
3,283
245
282
299
266
296
286
307
307
314
223
245
300
' 29,871
' 30,196
2,292
'2,630
' 2,732
' 2,636
' 2,878
' 2,892
' 2,885
2,542
' 2,388
2,231
2,208
' 2,417
2,584
11,397
1,136
572
'901
10, 658
' 11,500
875
'534
' 1, 080
' 10,448
'869
61
'46
74
798
941
67
48
85
980
'951
73
46
97
' 1,014
'927
94
'40
101
'1,015
' 1,040
78
42
85
'1,104
1,049
62
44
98
' 1,093
1,102
73
47
100
1,045
958
71
43
108
'914
1,012
77
51
103
717
1,051
66
56
94
579
1 001
57
45
96
598
1 071
83
48
'93
52
86
' 120. 8
' 122. 5
' 121. 6
' 121.6
' 123. 0
' 125.1
' 128. 5
' 126. 8
' 131. 6
' 134.4
' 134. /
' 136. 9
135.4
'91.7
'92.7
'92.6
'92.4
'93.9
' 94.5
'96.2
'97.5
' 98 4
101 1
' 102 4
' 103 3
102.7
'52.9
43.6
'52.7
'43.4
'53.3
'43.8
'53.8
'44.1
'54.5
44.7
55.5
45.9
'56.4
'46.9
'57.2
'47.8
' 57 5
'48.0
58 0
48 3
' 59 4
' 49 4
' 59 8
'49.6
59.2
48.8
'23.5
4.6
'13.2
'24.1
'4.7
13.4
'23.7
'4.5
'13.4
24.3
'4.3
'13.9
'24.5
4.6
'13.6
'24.8
4.8
' 13.9
26.4
5.3
15.1
'26.2
'5.2
14.9
'26.7
'5.5
15.1
26.9
5.2
15.3
Residential (including farm)
do
do
New housing units'24.0
24.6
23.8
Nonresidential buildings, except farm and pub4.7
'4.8
4.6
lic utilities, total 9
hii $
'13.3
13.4
14.1
do
Industrial...
do
Commercial
2.9
3.3
3.4
Public utilities:
Telephone and telegraph
...do....
'29.0
'29.0
29.8
do
Public, total 9
' 10.4
' 10.8
' 10.8
'.7
.8
.8
Buildings (excluding military) 9
do
.5
'.5
.5
do
Housing and redevelopment
1.0
1.0
1.1
Industrial
do
' 10 8
' 10.7
' 10 1
do
Military facilities
Highways and streets
..do....
r
Revised.
v Preliminary.
cfSee corresponding note on p. S-8.
9 Includes data for items not shown separately.
ifBeginning Jan. 1969, data have been revised to reflect the incorporation of new basic
'3.2
3.4
'3.3
'3.4
'3.5
'3.5
3.6
3.6
3.6
'29.2
29.2
30.6
'32.3
29.3
' 33 1
34 6
'32 3
' 33.6
32.6
'11.0
'1.2
'.6
'1.3
' 10.1
' 11.4
'1.0
.5
.9
' 10.0
' 12 0
.8
' .5
1.0
' 10 4
' 13 3
.9
.5
'1.1
' 10 6
' 11 1
' .7
' .5
' 1.2
10 6
' 12 9
.9
.6
' 12
' 11 0
14 7
.9
.7
1 2
11 1
12 9
.7
.6
1.4
11 1
15 2
1.0
.6
1.3
.6
1.2
data and the introduction of new seasonal factors based upon data through 1972; monthly
data are available upon request.
SURVEY OF CURRENT BUSINESS
S-10
Unless otherwise stated in footnotes below, data
through 1970 and descriptive notes are as shown
in t h e 1971 edition of B U S I N E S S S T A T I S T I C S
1971
1972
1972
Apr.
Annual
June 1973
May
June
July
Aug.
1973
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
8,814
May
CONSTRUCTION AND REAL ESTATE—Continued
CONSTRUCTION CONTRACTS
Construction contracts in 50 States (F. W. Dodge
Division, McGraw-Hill):
Valuation, total
mil. $.
Index (mo. data seas, adj.)
1967=100.
Public ownership
mil. $_
Private ownership
do—
By type of building:
Nonresidential
do...
Residential
do...
Non-building construction
do___
New construction planning
(Engineering News-Record) O
do...
HOUSING STARTS AND PERMITS
New housing units started:
Unadjusted:
Total (private and public)
thous.
Inside SMSA's
do...
Privately owned.
do...
One-family structures
do...
Seasonally adjusted at annual rates:f
Total privately owned.
One-family structures
80,188
' 91,673
•8,212
9,098
8,478
8,067
8,875
8,197
8,225
7,248
6,464
6,795
6,839
8,644
U45
U65
167
165
154
155
180
187
171
177
163
181
191
193
197
23,927
56, 261
• 24,161
• 67,512
• 1,726
2,574
6,524
2,517
5,960
2,528
5,538
2,466
6,409
2,017
6,181
1,669
6,557
1,785
5,462
1,650
4,814
1,918
4,877
1,717
5,122
2,046
6,599
2,071
6,743
25,590
34, 714
19, 883
27,311
• 45,433
• 18,928
2, 203
3,960
2,048
2,908
4,428
1,762
2,447
4,375
1,655
2,461
3,864
1,741
2,458
4,671
1,746
2,378
4,135
1,684
2,384
4, 298
1,544
2,184
3,663
1,402
2,212
3,120
1,132
2,420
3,195
1,180
2,229
3,277
1,333
2,707
4,643
1,294
2,634
4,512
1,668
65, 578
68,001
4,234
4,799
5,000
3,894
5,315
4,470
6,489
8,032
7,679
6,102
6,014
7,600
5,710
6,601
2,084. 5
1.518.5
2,052. 2
1,151.0
2,378.5
1,732.7
2, 356.6
1, 309.2
213.2
155.6
211.6
119.8
227.9
162.7
225.8
135.2
226.2
160.4
223.1
131.9
207.5
149.8
206.5
119.1
231.0
168.2
228.6
131.3
204.4
142.9
203.0
120.5
218.2
158.0
216.5
117.0
187.1
137.1
185.7
97.4
152.6
116.2
150.5
73.2
147. 3
• 113.0
146.6
77.1
139.5
106.1
138.0
73.6
1
201.0
151. 8
•200.0
• 105.1
' 203.4
152.1
• 203.1
• 120. 0
235.3
2,204
1,215
2,318
1,308
2,315
1,283
2,244
1,319
2,424
1,373
2,426
1,382
2,446
1,315
2,395
1,324
2,369
1,207
2,497
1,450
2,456
1,372
' 2,260
•1,245
»" 2,104
r
1,197
2,430
1,268
do.
do_
New private housing units authorized by building
permits (13,000 permit-issuing places):
Monthly data are seas. adj. at annual rates: t
Total
thous.
One-family structures.
do
Manufacturers' shipments of mobile homes:
Unadjusted..
_
do.
Seasonally adjusted at annual rates
_do.
1
1
1,925
906
2,130
990
1,991
1,955
923
2,121
2,108
1,013
2,237
1,031
2,265
975
2,216
1,086
2,139
961
2,377
947
496.6
••575.9
53.7
51.8
581
55.0
586
48.5
559
52.1
537
49.1
497
54.4
551
50.7
670
38.0
610
40.7
648
42.9
642
57.0
737
'136
137
'138
138
139
'140
'142
'143
"•144
'144
'145
'146
1,348
1,545
1,436
1,267
1,265
1,359
1,545
1,436
1,267
1,284
1,367
1,545
1,436
1,267
1,284
1,379
1,577
1,440
1,315
1,285
1,383
1,581
1,440
1,319
1,286
1,399
1,588
1,441
1,319
1,318
1,405
1,590
1,443
1,319
1,320
1,407
1,592
1,443
1,319
1,320
1,426
1,670
1,456
1,349
1,335
1,464
1,696
1,513
1,406
1,372
2, 221 • 2,102
• 2,254
• 1,084 ' 1,089 • 1,011
1
1,882
'943
235.2
131.4
1,906
928
61.6
CONSTRUCTION COST INDEXES
Dept. of Commerce composite
1967=100..
American Appraisal Co., The:
Average, 30 cities
1913=100.
Atlanta
do
New York
do...
San Francisco
_ do
St. Louis
do___
Associated General Contractors of America. Inc.,
The (building only) d"
1667=100.
Boeckh indexes:
Average, 20 cities:
Apartments, hotels, office buildings
1967=100.
Commercial and factory buildings
..do._.
Residences
do...
Engineering News-Record:
Building
.1967 = 100.
Construction
do__.
Federal Highway Adm.—Highway construction:
Composite (avg. for year or qtr.)
1967=100..
CONSTRUCTION MATERIALS
Output index:
Composite, unadjusted 9
1947-49=100
Seasonally adjusted
do...
Iron and steel products, unadjusted
do
Lumber and wood products, unadj
do
Portland cement, unadjusted
do
REAL ESTATE}
Mortgage applications for new home construction:
FHA net applications
thous. units..
Seasonally adjusted annual rates
do
Requests for VA appraisals
do....
Seasonally adjusted annual rates
do
Home mortgages insured or guaranteed b y Fed. Hous. Adm.: Face amount
mil. $..
Vet. Adm.: Face amount§
do
130
1,258
1,411
1,359
1,174
1,219
1,369
1,563
1,436
1,285
1,286
135.0
133.9
132.8
145.4
144.8
145.8
140.5
146.7
155.2
163.0
131.7
138.2
175.7
189.7
188.8
185.4
205.4
189.4
205.6
191.9
185.9
194.3
213.4
195.7
195.1
191.0
207.8
187.0
185.4
193.7
157.8
180.3
170.0
180.4
163.8
182.7
209.0
175.0
193.9
219.3
176.1
192.7
205.1
189.4
206.1
252.6
189.4
201.1
269.6
164.3
182.4
253.0
197.3
208.5
304.5
183.7
194.8
264.2
193.2
211.7
275.4
175.8
192.0
198.6
156.7
163.4
144.2
168.3
190.6
143.3
187.6
148.5
225.2
20.6
227
21.7
243
20.9
222
18.5
20.4
221
20.3
219
17.2
224
17.3
200
19.5
207
19.2
202
14.0
166
15.9
192
12.3
147
15.7
12.6
162
16.4
207
9.7
131
12.0
194
9.4
124
15.5
222
8.2
100
15.3
217
9.2
93
18.4
201
15.9
169
15.1
161
653.69
>16. 86
627.34
609. 78
643.05
854.60
635.16
750.10
771.98
585.28
758.57
598.00
737. 74
592.11
791. 77
435.11
731. 77
577. 47
687. 68
396.44
630.43
462.88
599. 05
374.25
618. 02
655. 67
6,295
6,736
7,045
7,245
7,979
7,831
7,944
8,420
9,429
5,379
217.9
Fire losses (on bldgs., contents, etc.)t
mil. $..
209.2
0,374.54 \, 067.06
i,065.83 !, 419. 86
146.6
146.1
147.3
144.6
144.2
145.0
152.1
158.9
153.7
161.5
155.0
163.9
156.4
165.4
157.9
166.2
148.3
147.9
149.5
158.4
167.0
160.1
168.3
141.2
133.7
7,979
5,913
5,853
6,075
148.6
148.3
149.
161.4
169.0
163.2
171.1
151.6
152.6
156.3
164.9
172.2
144.4
167.3
173.7
168.0
174.4
'168.9
•175.0
137.8
6.3
6,138
39,485
51,408
3,819
4,603
5,449
6,835
18,810
13,840
8,553
26,615
16,240
707
1,819
1,293
836
2,276
1,491
872
2,920
1,657
116,698
132,335
10,095
12,731
2,316
2,304
193
193
4,689
4,522
4,393
4,591
3,702
3,710
4,990
4,975
803
3,087
1,489
739
2,587
1,363
761
2,423
1,338
714
2,307
1,372
667
2,167
1,757
590
1,970
1,142
614
2,019
1,077
887
2,685
1,418
882
2,757
1,336
12,469
4,572
743
2,515
1,314
10,533
11,124
10,735
10,834
10,857
10,382
187
188
184
178
182
164
194
218
213
218
229
r
Revised.
v Preliminary.
i Computed from cumulative valuation total.
2 index
as of June 1, 1973: Building, 168.5, construction, 176.5.
OData for Mar., June, Aug., and
Nov. 1972 and Mar. 1973 are for 5 weeks; other months, 4 weeks.
9 Includes data for items
not shown separately.
§Data include guaranteed direct loans sold.
cfNew base; comparable data for earlier periods will be shown later.
HHome mortgage rates (conventional
155.8
164.9
147.5
146.9
148.6
672. 96
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
number.
1,375
1,577
1,436
1,306
1,285
147
1st mortgages) are under money and interest rates on p. S-17.
fBeginning Jan. 1970, data
include estimates for uninsured fire losses and are not comparable with those for earlier
periods. Revised monthly data back to 1970 are available upon request.
{Beginning Jan.
1973, housing starts in permit-issuing places are for 14,000 permit places.
SURVEY OF CURRENT BUSINESS
June 1973
Unless otherwise stated in footnotes below, data
through 1970 and descriptive notes are as shown
In the 1971 edition of BUSINESS STATISTICS
1971
1972
Apr.
Annual
S-ll
1972
May
June
July
Aug.
1973
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
DOMESTIC TRADE
ADVERTISING
McCann-Erickson national advertising index,
seasonally adjusted:f
Combined indexf—-.1957-59=100.
Television (network)
do
Spot TV.
do...
Magazines
do
Newspapers
do...
199
233
302
175
141
219
262
340
186
151
215
257
335
181
149
216
253
349
187
147
214
247
338
187
148
214
264
321
186
142
219
267
310
187
162
225
281
360
183
146
228
275
348
184
169
233
272
377
195
162
242
287
410
192
163
275
418
187
164
Magazine advertising (general and natl. farm magazines) :
Cost, total
mil. $_
Apparel and accessories
do...
Automotive, incl. accessories
do...
Building materials
do...
Drugs and toiletries
do...
Foods, soft drinks, confectionery
do__.
1, 251. 4
47.0
111.3
19.2
158.6
108.1
1,297. 7
44.4
119.8
23.2
148.2
115.2
121.0
6.0
11.6
3.3
13.4
10.4
128.9
3.8
14.4
3.5
14.4
9.8
109.0
1.7
12.2
2.2
13.3
10.6
1.2
8.4
1.3
10.5
8.7
78.1
3.7
5.0
.9
11.2
6.3
117.0
6.4
8.4
2.2
12.1
136.5
5.0
15.1
2.1
13.5
11.8
138.5
4.1
11.7
2.1
13.6
13.7
111.2
3.5
6.8
1.0
11.5
9.7
72.5
1.7
5.9
1.0
9.3
5.0
89.6
2.2
8.8
1.7
11.7
8.6
109.8
4.9
11.3
2.8
12.1
8.0
126.7
5.7
13.6
3.4
11.6
9.5
Beer, wine, liquors
do_._
Household equip., supplies, furnishings..do._.
Industrial materials
do...
Soaps, cleansers, etc
do...
Smoking materials
do...
Allother
...do...
88.2
64.0
33.1
17.8
118.2
486.0
91.0
76.7
29.7
20.6
116.2
512.7
7.4
8.5
2.4
2.3
8.7
46.9
8.3
9.8
3.8
1.7
8.8
50.7
8.5
6.2
2.4
1.7
9.6
40.6
6.4
4.6
1.6
1.6
9.8
29.8
4.7
3.4
2.3
1.4
8.6
30.5
6.7
7.6
3.3
1.8
11.3
48.1
10.2
10.2
2.4
1.7
11.1
53.2
11.4
9.5
3.0
1.9
11.4
56.0
14.8
4.9
1.9
1.3
11.3
44.6
3.4
2.9
1.9
.9
7.2
33.4
3.7
3.8
1.6
1.4
8.1
38.0
5.1
6.5
2.5
2.0
8.3
46.2
6.9
9.5
2.7
2.0
9.3
52.5
Newspaper advertising expenditures (64 cities): ©
Total*
mil. $_
Automotive
deClassified.
do...
Financial
do...
General
do...
Retail
do...
3,208. 2
100.8
751.7
103.1
445.4
1,807.3
3,648. 6
102.5
914.9
122.1
504.4
2,004.7
332.6
9.2
83.7
12.2
50.7
176.8
324.6
10.4
81.4
9.9
48.2
174.7
310.3
8.3
79.3
11.5
43.6
167.6
280.4
7.6
82.6
10.2
30.4
149.7
273.4
7.4
76.7
6.3
30.0
153.0
281.2
10.5
74.3
8.3
40.2
147.9
333.7
8.2
82.9
11.6
50.6
180.3
339.1
8.8
72.8
9.4
50.5
197.6
306.4
5.9
64.4
9.8
35.4
190.9
279.6
6.9
79.8
13.6
36.4
143.0
274.1
7.8
76.9
8.3
37.3
143.9
315.5
8.7
87.4
11.4
43.7
164.4
Merchant wholesalers sales (unadj.), total..mil. $.. 267,357
Durable goods establishments
do
122,420
Nondurable goods establishments
-do
144,937
298,199
138,446
159,753
23,044
10,977
12,067
25,290
11,898
13,392
25,389
12,127
13,262
23,491
11,085
12,406
26,654
12,552
14,102
25,555
12,092
13,463
26,823
12,604
14, 219
27,154
12,301
14,853
26,089
11, 557
14,532
26,326
11,856
14,470
25,562
11,699
13,863
29,852
13,831
16,021
28, 794
13,696
15, 098
28,828
16, 987
11,841
31,895
18,672
13, 223
17,740
11,868
29,669
17, 855
11,814
29,648
18,003
11,646
29,901
18,332
11,569
29,868
18,098
11,769
30,367
18,166
12,201
31,255
18, 250
13,005
31,665
18,471
13,194
31,895
18,672
13, 223
32,865
18,970
13,895
33,171
19,139
14,032
33,493
19,525
13,968
19, 623
13,875
mil. $.. 408,850
131,814
do
do
78,916
do
72,538
do
6,378
448,379
149,659
88,612
81,521
7,091
35,389
12,095
7,372
6,782
590
38,164
38,730
37, 522 39,014
12, 501 13,569
8,043
7,192
6,592 7,396
647
600
35,768
12,154
7.504
7,019
34,977
12,284
7,612
7,143
469
40,485
13,229
7,775
7,136
47,004
13,725
7,274
6,624
650
41,309
13,735
8,372
7,716
656
36,961 37, 994
12,624 1 2 , 7 8 J
7,406
7, —
6.770
636
617
39,790
13, 296
8,162
7,539
623
14,853
•9,374
• 8, 761
'614
14,462
• 8, 990
8,349
641
18,560
11,004
6,221
21,315
12,550
7,029
1,595
969
508
1,689
1,034
530
1,770
1,101
544
1,749
1,001
608
1,817
1,070
607
1,760
1,022
595
1,863
1,107
599
1,959
1,166
623
2,330
1,235
854
1,789
1,044
595
1,754
1,058
563
• 1, 927
• 1,158
'610
1,831
1,130
562
17,378
20,064
13, 733 15,973
3,645
4,091
277,036 298,720
20,804
21,993
4,727
5,198
8,193
3,532
3,774
1,544
1,226
318
1,731
1,356
375
1,841
1,460
381
1,952
1,690
362
25,445
1,923
445
737
340
33,279
3,177
827
1,197
480
22,693
1,460
339
585
247
' 1, 746
•1,417
'329
26,456
• 1,829
'399
'712
'342
1,836
1,468
368
25,209
1,759
389
667
317
1,458
1,188
270
23,614
1,608
424
595
283
1,470
1,198
272
24,995
1,739
432
653
298
1,759
1,398
361
26,561
2,055
504
777
351
1,664
1,212
452
24,868
1,769
419
683
304
1,883
1,541
342
25,021
1,846
401
708
361
1,924
1,567
357
23,294
1,665
390
626
294
1,837
1,465
372
24,337
1,580
371
605
267
26,023
• 1,992
442
742
403
WHOLESALE TRADE
Merchant wholesalers inventories, book value,
end of year or month (unadj.), total
mil. $_.
Durable goods establishments
do
Nondurable goods establishments
.do
RETAIL TRADE t
All retail stores:t
Estimated sales (unadj.), total t
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
Nondurable goods stores 9
Apparel group
Men's and boys' wear stores
Women's apparel, accessory stores
Shoe stores
Drug and proprietary stores
Eating and drinking places. _
Food group
Grocery stores
Gasoline service stations
do
do
do
do..
do..
do..
do..
do..
do..
do..
do..
do..
do..
do..
do..
do..
General merchandise group with nonstores9
mil. $..
General merchandise group without nonstores 9 §
mil. $_.
Department stores
do
Mail order houses (dept. store mdse).do....
Variety stores
do
Liquor stores
...do
Estimated sales (seas, adj.), total J.
_..do_.
Durable goods stores 9
do
Automotive group
do
Passenger car, other auto, dealers
do
Tire, battery, accessory dealers
do
13,736
31,131
89, 239
82, 793
29,163
14,523
33,891
95,020
88,340
31,044
1,141
2,699
7,588
7,069
2,457
1,197
2,894
7,937
7,389
2,608
1,195
3,022
8,173
7,592
2,645
1,163
3,063
8,092
7,492
2,752
1,222
3,127
8,100
7,494
2,758
1,184
2,943
8,253
7,676
2,606
1,189
2,902
7,862
7,293
2,686
1,201
2,782
7,991
7,441
2,668
1,668
2,910
8,948
8,321
2,724
1,205
2,715
7,995
7,468
2,589
1,151
2,623
7,646
7,106
2,474
• 1, 222
• 2, 975
• 8, 792
8,202
• 2, 773
• 1,199
' 2, 922
• 8, 099
• 7, 521
• 2, 832
68,134
74,903
5,496
6,002
5,977
5,660
6,224
6,151
6,540
7,487
10,755
4,999
4,933
' 6,307
' 6, 474
62, 242
42, 027
4,301
6,972
8,773
68,936
46,302
' 4,722
7,756
9,215
5,208
3,486
'313
584
803
37,342
5,628
3,835
'366
610
749
5,985
4,006
'477
623
757
39,106
6,887
4,622
'620
698
779
38,713
10,243
7,098
' 528
1,304
1,069
4,572
3,076
'300
492
692
39,417
13,173
7,825
7,215
610
13,640
8,300
7,729
571
40,707
14,234
8,507
7,904
603
4,469
2,961
'340
496
667
41,242
14,405
8,575
7,945
630
' 5,776
' 3,849
'473
'620
'740
41,979
14,612
' 8,769
' 8,127
'642
' 5, 987
' 4, 046
428
663
715
40, 978
14,262
8,556
7,929
627
5,037
3,348
••333
580
709
36,296
11,976
7,067
6,490
577
37,141
5,493
3,739
'324
616
774
36,822
12,280
7,302
6,719
583
12,253
7,266
6,704
562
12,468
7,399
6,821
5,501
3,688
'367
620
751
578
5,735
3,787
'417
638
760
37,969
12,842
7,723
7,104
619
615
13,168
7,853
7,195
658
Furniture and appliance group 9
Furniture, homefurnishings stores
Household appliance, TV, radio
do..
do..
do..
1,743
1,044
583
1,748
1,016
576
1,735
1,051
527
1,781
1,026
607
1,797
1,040
613
1,750
1,034
580
1,846
1,093
602
1,846
1,093
591
1,808
1,048
601
1,962
1,145
640
2,021
1,215
659
••2,014
' 1,184
'659
1,997
1,201
640
Lumber, building, hardware group
Lumber, bldg. materials dealersd"
Hardware stores
do..
do..
do..
1,562
1,246
316
1,592
1,250
342
1,605
1,263
342
1,679
1,338
341
1,714
1,362
352
1,746
1,406
1,780
1,427
353
1,747
1,390
357
1,711
1,379
332
1,915
1,545
370
1,937
1,556
381
1,936
'1,547
389
1,871
1,489
382
' Revised.
i Data for Sept.-Dec. 1970 are as follows (mil. $): 256.2, 279.5, 309.5, 264.4;
7.0,9.0,7.1,5.6; 58.6,60.1,58.0,46.1; 8.9,10.2,7.8,8.8; 37.9,42.6,48.5,30.6; 143.9,157.6,188.1,173.2.
2 Advance estimate. ©Source: Media Records, Inc. 64-City Newspaper Advertising
Trend Chart.
*New series. Beginning Jan. 1971 the series was revised to reflect trends in
newspaper advertising expenditures in 64 cities instead of linage in 52 cities as formerly published,
t Revised to reflect new sample design, improved techniques, and new information
from the 1967 Census of Business; revisions for periods prior to Oct. 1970 appear on p . 55 ft\
37, 746
12,614
7,503
of the Dec. 1971 SURVEY (complete details appear in the Census Bureau Monthly Retail
Trade Report, Aug. 1971 issue). 9 Includes data for items not shown separately.
fFormerly Marketing/Communications advertising index. Series revised in June 1971;
comparable 1970 monthly data are in the SURVEY for t h a t month (no comparable earlier data
are available).
cf Comprises lumber yards, building materials dealers, and paint, plumbing, and electrical
stores.
§Except department stores mail order.
June 1973
SURVEY OF CURRENT BUSINESS
S-12
Unless otherwise stated i n footnotes below, d a t a
through 1970 a n d descriptive notes a r e a s shown
In t h e 1971 edition of B U S I N E S S S T A T I S T I C S
1971
1973
1972
1972
Apr.
Annual
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
26,837 27,367
2,012 ' 2,175
'506
471
'825
788
'397
348
26, 716
1,864
446
705
334
27,067
DOMESTIC TRADE—Continued
RETAIL TRADEf—Continued
H retail storesf— Continued
Estimated sales (seas, adj.)—Continued
Nondurable goods stores 9
mil. $.
Apparel group
do__.
Men's and boys' wear stores
do__.
Women's apparel, accessory stores...do.__
Shoe stores
_do__.
Drug and proprietary stores
Eating and drinking places
Food group
Grocery stores
Gasoline service stations
24,320
1,834
445
673
310
24,861
1,846
438
706
317
24,569
1,788
429
683
294
24,874
1,801
433
25,127
1,813
438
699
300
25,132
1,836
433
701
318
25,938
1,947
468
718
350
25,540
1,891
445
710
344
25,777
1,899
438
730
347
26,473
1,949
476
741
349
1,205
2,763
7,795
7,265
2,489
1,208
2,785
7,985
7,449
2,534
1,218
2,801
7,832
7,279
2,500
1,204
2,818
7,956
7,374
2,577
1,246
1,204
2,830
8,005
7,438
2,611
1,226
2,873
8,209
7,637
2,686
1,250
2,913
8,134
7,570
2,681
1,236
2,957
8,071
7,503
2,713
1,246
3,057
8,476
7,894
2,714
1,254
3,057
8,409
7,800
2,821
' 1,241
2,797
8,039
7,457
2,622
1,259
3,031
8,431
7,834
• 2,821
8,540
7,950
2,893
6,025
do..
do_.
do_.
do_.
do_.
General merchandise group with nonstores 9
mil. $..
General merchandise group without nonstores 9 §
mil. $..
Department stores
do
Mailorder houses (dept.storemdse.)do
Variety stores
do
Liquor stores
do
Estimated inventories, end of year or month: t
Book value (unadjusted), total t
mil. $.
Durable goods stores 9
do__.
Automotive group
do___
Furniture and appliance group
do___
Lumber, building, hardware group. _do._.
50,889
23,152
11,384
3,557
3,219
6,246
6,143
6,267
6,288
6,333
6,548
6,354
6,362
6,590
6,753
•7,137
6,704
5,533
3,643
••378
671
769
5,731
3,838
'400
649
766
5,632
3,792
' 370
638
776
5,801
3,899
'393
643
785
5,772
3,845
••412
654
775
5,858
4,007
'400
634
767
6,065
4,092
'432
663
800
5,833
3,937
'415
643
763
5,884
4,008
'366
671
740
6,095
4,101
'412
703
759
6,223
4,212
'429
681
795
• 6, 621
• 4, 439
'489
'738
'779
6,179
4,180
455
653
780
54,037
24,929
12,343
3,732
3,574
54,299
25,087
12,416
3,735
3,612
53,697 52,794
24, 701 23,592
12, 084 11,083
3,692 3,691
3,568 3,543
51,693
21,749
9,169
3,672
3,536
53,187
22,451
9,845
3,750
3,561
55,075
22,984
10,165
3,803
3,574
56,816
23,908
10,707
3,923
3,646
53, 283
23,782
10,950
3,746
3,631
53, 605 55,168 56,991
24, 078 24, 839 25,574
11,222 11,845 12,346
3,816
3,766
3,754
3,910
3,809
3,692
57,904
25,976
12,613
3,932
4,006
31,417
4,834
5,892
31,928
4,886
6,012
13,550
8,062
Nondurable goods stores 9
do._.
Apparel group
do__.
Food group
do
General merchandise group with nonstores
mil. $_
Department stores
do...
27,737
4,397
5,507
53, 283
23, 782
10, 950
3,746
3,631
29, 501
4,556
5,859
29,108
4,674
5,510
29,212
4,596
5,557
28,996
4,509
5,538
29,202
4,598
5,563
29,944 30, 736 32,091
4,834 5,044 5,188
5,645
5,631
5,893
32,908
5,302
6,030
29,501
4,556
5,859
29,527
4,354
5,728
11,062
6,613
11, 784 12,065
7,075
7,232
12,158
7,344
12,153
7,203
12,541
7,469
12, 981 13,680
7,763 8,316
14,132
8,759
11,784
7,075
12,097
7,200
Book value (seas, adj.), total t
do__.
Durable goods stores 9
do...
Automotive group
do...
Furniture and appliance group
do
Lumber, building, hardware group...do...
52,261
23,808
11,772
3,604
3,312
52,814 53,402
23, 740 23,915
11,387 11,412
3,684 3,709
3,467 3,507
52.940
23,194
10,596
3,725
3,529
53,107
23,037
10,407
3,690
3,579
53,661
23,608
10,937
3,743
3,612
53, 934 54, 658
23,675 24, 235
10, 918 11, 247
3,714 3,761
3,628 3,705
54,700
24,442
11,324
3,791
3,732
12, 628 13,293
7,470
7,949
55, 526 56,039 56,197
24,472 24, 638 24,538
11,335 11,522 11,435
3,835
3,851
3,886
3,826
3,824
3,764
28,453
4,580
5,442
54, 700
24, 442
11, 324
3,791
3,732
30, 258
4,746
5, 790
12,106
7,273
53,293
23, 665
11,086
3,703
3,508
29,074
4,660
5,510
29,487
4,666
5,557
29,628
4,673
5,560
29,746
4,726
5,597
30,070
4,753
5,734
30,053
4,777
5,714
30,259
4,835
5,800
30,423
4,860
5,815
30,258
4,746
5,790
31,054 31,401
4,818
4,722
5, 815 5,806
31,659
4,858
5,892
32,081
4,920
6,012
11,753
7,035
12, 521 12,133
7,527 7,276
12,293
7,411
12,462
7,545
12,380
7,380
12,561
7,499
12,446
7,443
12,388
7,485
12,590
7,710
12,521
7,527
13,095
7,818
13,356
7,955
13,518
8,054
13,765
8,193
125,607
137, 650 10,502
11, 220 11,430
12,110
Nondurable goods stores 9
do...
Apparel group
do...
Food group
do
Genera! merchandise group with nonstores
mil. $_.
Department stores
do
Firms with 11 or more stores: f
Estimated sales (unadj.), total 9 .
_do_
Apparel group 9
do_.
5,741
750
Men's and boys' wear stores
do.
Women's apparel, accessory stores
do
2,123
1,
Shoe stores
do
Drug and proprietary stores
do
Eatingg and drinkingg places
2,735
do....
p
do
F i t
d
li
1,600
Furniture and appliance group
do
General merchandise group with nonstores 9
mil. $_. 52,092
General merchandise proup without nonstores §
mil. $.. 49,008
Dept. stores, excl. mail order sales
do
36,544
Variety stores
do
5,398
Grocery stores
do..
45,235
1,955
Tire, battery, accessory dealers
do_.
6,055
782
2,194
1,737
5,246
2,887
1,902
30,329
4,616
5,731
10,892
11,465
11,661
11, 826
12,814
16,906
10,482
10,162
12,377
458
63
159
130
396
227
141
487
68
177
135
427
267
156
472
67
171
129
441
267
164
410
50
153
111
417
278
152
487
51
180
144
445
274
165
532
59
189
178
431
230
156
545
66
194
169
431
229
171
584
75
213
176
442
222
168
910
126
335
246
695
240
221
405
53
141
126
420
228
160
383
40
152
115
407
222
154
'520
'56
'193
' 163
'440
'263
'178
56,705
24, 624
11,508
3,885
606
64
218
204
436
262
153
58,113
4,218
4,626
4,635
4,385
4,814
4,800
5,096
5,904
8,630
3,878
3,830 '4,964
55,100
40, 795
6,191
3,989
2,946
458
4,371
3,246
490
4,393
3,307
493
4,165
3,102
465
4,578
3,365
503
4,531
3,400
4,785
3,533
500
5,593
4,082
568
8,386
6,240
1,075
3,680
2,721
391
3,609 ' 4, 686 4,863
2,629 ' 3,432 3,602
538
'495
393
49,206
2,094
3,893
178
4,049
181
200
4,114
178
4,122
191
4,315
171
4,090
186
4,232
188
4,727
198
4,243
141
4,032 ' 4, 719 4,237
' 180
134
187
do.
11,085
11,412
11,268
11,449
11,592
11,660
12,202
11,944
11,830
12,477
12,503
12,814
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_.
495
71
172
142
429
229
502
72
180
138
432
252
473
65
177
122
451
249
493
67
180
132
431
259
491
59
185
137
450
249
511
63
183
154
443
228
551
66
189
179
455
223
531
63
194
167
460
240
528
62
188
165
451
243
544
64
197
170
461
252
574
59
226
172
472
260
'616
'72
'224
' 192
'454
'270
544
63
205
168
473
257
4,593
4,828
4,737
4,817
4,846
5,147
5,008
5,023
5,242
5,331
' 5,565
5,277
4,724
3,534
513
4,874
3,627
529
4,748
3,519
517
4,798
3,554
544
4,986
3,672
567
5,076
3,750
546
' 5,303
• 3,900
'579
5,019
3,721
538
4,133
182
4,384
191
4,288
177
4,139
166
4,480
185
4,335
184
• 4, 369
'190
4,532
180
22, 288 22,808
7,805 7,966
14,483 14,842
9,163 9,442
13,125 13,366
23,061
8,010
15,051
9,664
13,397
23, 563
7,942
15, 621
9,653
13, 910
25,068 24,143 23, 703
8,115
7,845 ' 7, 822
16, 953 16, 298 15,881
10, 090 9,417 ' 9,333
14, 978 14, 726 14,370
23,745
7,983
15,762
9,469
14, 276
23,031
7,781
15,250
9, 429
13, 602
23,139
7,757
15,382
9,530
13,609
23,364
7,847
15,517
9,524
13,840
23,518 23, 669 23,983
7,940
8,053 ' 8,123
15, 578 15, 616 15,860
9,671
9,567 ' 9,749
13, 847 14,102 14, 234
24,198
8,280
15, 918
9,830
14,368
Estimated sales (seas, adj.), total 9 ©
General merchandise group with nonstores 9
mil. $..
General merchandise group without nonstores§
mil. $
Dept. stores, excl. mail order sales
do
Variety stores
do
4,332
3,175
506
4,568
3,388
511
4,481
3,310
515
4,604
3,413
521
4,597
3,379
516
Grocery stores
do
Tire, battery, accessory dealers~"I"I~~~~doI
4,034
170
4,115
169
4,060
169
4,151
165
4,223
187
22, 502
7,640
14,862
9,449
13,053
22,486
7,809
14,677
9,452
13,034
22,094
7,687
14,407
9,124
12,970
All retail stores, accts. receivable, end of yr. or mo.:
Total (unadjusted)
_ mn.
Durable goods stores
_ do
Nondurable goods stores...
"do
Charge accounts
"_""
do
Installment accounts...
"
do
Total (seasonally adjusted)
do
Durable goods stores
_ do
Nondurable goods stores
do
Charge accounts
do
Installment accounts
~~ I
do
b^
vyan°fe ®t tl " late 1 -
23,514
7,753
15, 761
9,385
14,129
25, 068
8,115
16,953
10,090
14, 978
22,049
7,439
14,610
9,026
13,023
22,046
7,580
14,466
8,986
13, 060
23,518
7,940
15,578
9,671
13, 847
22,305 22, 593 22,494
7,603 7,718
7,649
14, 702 14, 875 14,845
9,128
9,323
9,252
13,177 13, 270 13,242
tSee note marked "f on p. S-ll.
B U S Hi?a; T
*? -he l e r l s of the
calculatlon
ms n Annuai Retaii Trade Re
-
{Series revised
p° rts <census
andrevispriI
riSlp ™
?f seasonal factors for all lines of trade; description of revisions
Digitized
FRASER
andfor
revised
data appear on p. 55 ff. of the Dec. 1971 SURVEY (1968-69) and pp. 24-25 of the
22,504 22,714
7,714
7,606
14, 898 15,000
9,238
9,163
13,341 13,476
5,100
12,518
Oct. 1972 SURVEY (1970-71).
9 Includes data not shown separately.
§Except department
stores mail order. tfSee note marked " $ " on p. S-ll; data prior to Feb. 1971 will be shown
later.
e^evised data (seas, adj.) back to Jan. 1971 appear in the Census Bureau Monthly
Ketail Trade Report, Dec. 1972 issue.
U F UUKJKJliJN J
June 1973
Unless otherwise stated in footnotes below, data
through 1970 and descriptive notes are as shown
in the 1971 edition of BUSINESS STATISTICS
1971
S-13
1972
1972
Annual
OS
Apr.
May
June
July
Aug.
1973
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
209.92
210. 04
May p
LABOR FORCE, EMPLOYMENT, AND EARNINGS
POPULATION OF THE UNITED STATES
Total, incl. armed forces overseas t
mil_.
207.04
208.84
208.44
208.56
208.71
208.84
208.98
87, /87
85, 324
80,627
3,287
77,339
4,697
87,986
85,567
81,223
3,531
77,692
4,344
90,448
88,055
82,629
3,976
78,653
5,426
91,005
88,617
83,443
4,061
79,383
5,173
90,758
86,431
81,458
3,338
78,120
4,973
1,157
86,554
81, 752
3,331
78,421
4,802
1,139
209.13
209. 29
209. 44
209.58
209.72
209.83
82,034
3,658
78,376
4,658
89,591
87,176
82, 707
3,721
78,986
4,470
89,400
83,505
4,031
79,475
4,857
82,703
3,363
79,340
4,266
89,437
86,997
82,881
3,163
79,719
4,116
88,122
85,718
81,043
2,955
78,088
4,675
89,075 2 89,686 89,823
86,683 2 87,325 87,473
81,838 2 82,814 83,299
3,295
2,956
3,131
78,882 79,683 80,004
4,174
4,845
4,512
86,597
81, 782
3,443
78,339
4,815
1,151
86,941
82,061
3,610
78,451
4,880
1,170
87,066
82,256
3,579
78,677
4,810
1,134
87, 236
82,397
3,658
78,739
4,839
1,117
87,023
82,525
3,556
78,969
4,498
1,068
87, 267
82, 780
3,650
79,130
4,487
1,001
86,921
82,555
3,501
79,054
4,366
919
87,569 2 88,268 88,350
83,127 2 83,889 83,917
3,311
3,424
3,480
79,703 80,409 80,606
4,442
4,433
4,379
895
763
859
5.2
3.5
5.0
15.6
4.6
10.1
2.5
3.1
5.8
5.3
10.5
4.6
4.2
5.1
3.4
5.1
15.7
4.6
9.6
2.4
3.3
5.6
5.2
9.8
4.4
3.9
5.0
3.3
5.3
14.3
4.6
8.9
2.4
3.2
5.6
5.1
3.4
4.9
15.8
4.6
9.0
2.4
3.0
5.7
5.0
3.4
4.9
14.2
4.4
9.0
2.5
2.9
5.4
5.0
3.4
4.7
15.4
4.5
9.1
2.4
3.1
5.4
5.1
9.0
5.0
4.6
5.1
8.7
4.5
4.3
4.9
8.5
4.6
4.5
4.9
9.4
4.3
3.8
LABOR FORCE §
Labor force, persons 16 years of age and over__thous_.
Civilian labor force
do_._.
Employed, total.
do—
Agriculture
do
Nonagricultural industries
do
Unemployed
.....do—
Seasonally Adjusted
Civilian labor force
do
Employed, total
do
Agriculture
do
Nonagricultural industries
do
Unemployed
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
White
Negro and other races.
Married men
Occupation: White-collar workers
Blue-collar workers
Industry of last job (nonagricultural):
Private wage and salary workers
Construction
Manufacturing
Durable goods
86, 929
88, 991
84,113 2 86, 542
79,120 2 81, 702
3,472
3,387
75, 732 2 78, 230
2
4, 840
4,993
1,181
1,158
86,184
81, 209
3,313
77,896
4,975
1,143
5.9
4.4
5.7
16.9
5.4
9.9
3.2
3.5
7.4
5.8
4.2
5.4
16.7
5.3
9.3
2.9
3.3
6-8
5.8
10.7
5.8
5.8
5.8
4.1
5.7
15.7
5.2
10.3
2.8
3.5
6.7
5.9
11.1
6.0
6.2
5.5
4.0
5.6
14.9
5.1
9.2
2.9
3.2
6.5
5.6
3.9
5.7
15.5
5.0
10.0
2.7
3.4
6.5
5.6
3.9
5.5
16.7
5.1
9.7
2.6
3.5
6.4
5.5
3.8
5.4
16.2
5.0
10.0
2.8
3.4
6.0
6.2
10.4
6.8
7.0
5.6
4.0
5.4
16.2
5.0
10.0
2.8
3.4
6.5
5.7
10.3
5.6
5.4
5.6
9.6
5.7
5.8
5.7
10.7
5.6
5.7
5.8
11.0
5.5
5.2
5.6
9.8
5.1
4.8
5.5
15.4
5.0
10.0
2.8
3.5
6.0
5.6
10.3
5.1
4.5
70,645
57,790
72,764
59,475
71,979
58,592
72,612
59,182
73,463
60,152
72,469
59,720
72,975
60,295
73,519
60,366
74,118
60, 606
74,449
60,804
74,778
61, 071
73,343
59,772
73,724 74,255 74,831
59,993 '60,459 '61,039
70,645
57,790
39, 262
22, 542
602
3,411
72,764
59,475
40,541
23,061
607
3,521
72,224
59,008
40, 228
22,885
605
3,500
•72,534 • 72, 705
59,271 59,478
40,407 40,547
23,001 23,072
605
601
3,532
3,540
72,694
59,423
40,530
22, 993
601
3,499
73,016
59, 693
40,718
23,122
603
3,544
73,268
59,883
40,814
23,226
606
3,551
73,584
60,178
73,835
60,382
41, 070
23,444
608
3,524
74,002
60,500
41,098
23,468
607
3,459
74,252
60, 774
41,311
23,571
610
3,498
74, 715
61,182
41, 596
18, 529
10, 565
192
581
458
634
1,227
1,328
1,805
1,768
1,724
437
410
7,964
1,758
76
18,933 18, 780
10.884 10, 750
185
188
610
612
486
493
652
660
1,216
1,235
1,358
1,371
1,864
1,826
1,833
1,803
1,747
1,743
456
447
425
424
8,049 ' 8,030
1,751
1,756
72
76
991
983
1,335
1,340
697
691
1,080
1,076
1,002
997
190
191
627
615
304
305
49, 704 49,339
4,495
4,476
15,683 15,561
3,918
3,894
11,765 11, 687
3,927
3,892
12,309 12,194
13,290 13,216
2,650
2,662
10,640 10,554
18,864
10,821
186
610
488
658
1,224
1,367
1,848
1,816
1,750
451
423
' 8,043
1,753
75
987
1,332
700
1,078
1,001
190
620
307
49,533
4,481
15,624
3,906
11,718
3,913
12,252
13,263
2,665
10,598
18,893 18,975 19,069
10,867 10,933 11,003
190
191
187
614
613
614
499
495
497
662
665
663
1,219
1,241
1,263
1,371
1,381
1,377
1,859
1,885
1,872
1,828
1,849
1,834
1,751
1,772
1,757
462
456
460
423
427
426
' 8, 026 '8,042 ' 8,066
1,754
1,740
1,746
75
70
67
990
994
995
1,312
1,335
1,339
698
700
701
1,077
1,080
1,083
997
998
1,007
189
189
189
628
630
634
306
306
305
'49,701 •49,894 50,042
4,477
4,487
4,507
15,685 15,762 15,794
3,917
3,939
3,946
11,768 11,823 11,848
3,927
3,940
3,953
12,341 12,382 12,403
13,271 13,323 13,385
2,613
2,624
2,633
10, 658 10,699 10,752
19,312 •19,402 19,463
11,194 11, 270 11,326
196
197
196
623
624
621
508
511
505
673
674
673
1,278
1,286
1,284
1,407
1,419
1,400
1,950
1,932
1,965
1,908
1,888
1,925
1,814
1,800
1,817
472
470
477
429
433
431
433
' 8, 098 ' 8, 118 ' 8,132 ' 8,137
1,749
1,744
1,746
1,743
72
72
68
70
1,015
1,008
1,014
1,003
1,345
1,337
1,343
1,347
7G8
707
706
706
1,093
1,088
1,090
1,085
1,013
1,016
1,014
1,010
189
189
189
189
652
664
657
644
302
295
299
304
50,205 50,391 •50,534 50,681
4,558
4,574
4,540
4,549
15, 839 15,911 15,946 16, 013
4,001
3,958
3,970
3,963
11,881 11, 948 11,976 12, 012
3,995
3,969
3,991
3,981
12,451 12,497 12, 537 12, 621
13,406 13,453 13,502 13,478
2,634
2,639
2,650
2,644
10, 767 10, 809 10, 852 10,844
19,586
11,421
198
628
514
682
1,286
1,432
1,973
1,945
1,845
481
437
8,165
1,751
73
1,023
1,349
711
1,092
1,014
185
672
295
50,923
4,580
16,114
4,022
12, 092
4,014
12, 682
13, 533
2,628
10, 905
49,407
13,590
50, 256
14, 225
49,365
14,130
49,562
14, 258
EMPLOYMENT
Employees on payrolls of nonagricultural estab.:t
Total, not adjusted for seasonal variation...thous.
Private sector (excl. government)
do...
Seasonally Adjusted
Total employees, nonagricultural payrolls t--do_..
Private sector (excl. government)
do...
Nonmanufacturing industries*
do...
Goods-producing*
do
Mining
do...
Contract construction
do...
Manufacturing
do.
Durable goods
do.
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 equipment and supplies, .do..
Transportation equipment
do..
Instruments and related products..do..
Miscellaneous manufacturing
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..
Service-producing*
do..
Trans., comm., electric, gas, etc
do.
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.
957
1,336
684
1,071
1,008
191
581
302
48,103
4,442
15,142
3,809
11,333
3,796
11,869
12,856
2,664
10,191
18,931
10,857
188
611
490
661
1,224
1,372
1,858
1,830
1,740
457
426
8,074
1,771
74
990
1,332
698
1,080
1,001
190
629
309
49,633
4,486
15, 678
3,922
11,756
3,927
12,315
13,227
2,639
10,588
Production or nonsupervisory workers on private
49,223 48,431 48,979 49,862
nonagric. payrolls, not seas. adjusted}:.--thous.. 47,732
13,434
13,838 13,578 13, 676 13,960
Manufacturing
do
Seasonally Adjusted
Production or nonsupervisory workers on private
nonagricultural payrollst*.
thous.. 47,732
49,223 48,817 '49,050 49,228
16,717
Goods-producing*
do
17,205 17,054 17,152 17,219
451
453
457
Mining*
do
459
458
2,832
2,891
2,925
2,908
Contract construction*
do
2,919
13,434
13,838 13,706 13,775 13,841
Manufacturing
do
7,598
7,804
7,919
7,896
Durable goods
do
7,863
96
92
94
94
Ordnance and accessories
do
••Revised. *> Preliminary, i As of July 1. 2 See note § below.
fSeenote"f,"p. S-14.
^Effective Jan. 1972, data are adjusted to the 1970 Census and are not directly comparable
with earlier data. On unadjusted basis, 330,000 were added to civilian labor force and 301,000
to civilian employment. Effective Mar. 1973, subsequent adjustments added 60,000 to the
labor force and to total employment. Beginning in the Feb. 1973 SURVEY, data reflect new
seasonal factors; comparable earlier figures appear in EMPLOYMENT & EARNINGS (Feb. 1973),
USDL, BLS.
49,952
14,023
50,036
14,180
40,968
23,379
608
3,561
19,210
11,112
191
616
503
671
1,274
1,393
1,909
1,878
1,782
466
50,442
14, 281
50, 689
14, 282
23, 792
612
3,594
74,914 '75,074
61,340 61,461
41, 697 41, 737
23,857 23,895
610
604
3,604
3,567
19,643 ' 19,724
11,463 11,528
197
630
517
687
196
628
519
688
1,280
1,436
1,990
1,957
1,846
1,286
1,448
2,007
1,971
1,866
484
439
481
438
' 8,180 ' 8,196
1,749
1,748
76
76
1,023
1,350
1,022
1,356
1,094
1,018
1,098
1,022
715
186
674
296
712
183
680
298
51, 057 '51,179
4,592
4,580
16,163 16, 201
4,044
4,029
12,134 12,157
4,030
4,024
12, 716 12, 743
13,574 13, 613
2,628
2,631
10, 943 10, 985
49, 994
14,345
50,542
14, 398
49,169 49,412 49,581 49,839 50,021 50,105 50,316 50, 708 •50,830 50,937
17,150 17,268 17,350 17,486 17,539 17,555 17,624 17,827 17,890 17, 923
462
458
460
459
457
464
462
455
456
458
2,841
2,867
2,939
2,944
2,905
2,961
2,977
2,928
2,887
2,936
13,808 13,884 13,956 14,082 14,175 14,256 14, 295 14,402 14,451 14,527
8,307
8,266
8,487
8,425
8,124
8,200
8,386
7,972
7,907
8,027
102
102
102
102
102
103
97
93
96
*Ncw series; see also note " { " .
% Effective Oct. 1972 SURVEY, employment, hours, earnings, etc., reflect revised benchmarks and seasonal factors, and are not comparable with figures in earlier SURVEYS and in
BUSINESS STATISTICS. Unadjusted data through June 1972 and seasonally adjusted data
through Dec. 1967 appear in BLS Bulletin 1312-9, EMPLOYMENT & EARNINGS, 1903-72. Effective June 1973 SURVEY, all seasonally adjusted data again reflect new factors; comparable
data, 1968-73, appear in EMPLOYMENT & EARNINGS (June 1973), BLS.
SURVEY OF CURRENT BUSINESS
S-14
Unless otherwise stated in footnotes below, data
through 1970 and descriptive notes are as shown in
the 1971 edition of BUSINESS STATISTICS
1971
1972
1972
Annual
June 1973
Apr.
May
June
July
Aug.
1973
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May p
LABOR FORCE, EMPLOYMENT, AND EARNINGS—Continued
EMPLOYMENT—Continued
Seasonally Adjusted
Production or nonsupervisory workers on payrolls}:
—Continued
Manufacturing, durable goods industries—Con.
Lumber and wood products
thous,
Furniture and
fixtures
.do
Stone, clay, and glass products
do
Primary metal industries
do
Fabricated metal products
do
Machinery, except electrical
do
Electrical equipment and supplies
do
Transportation equipment
do
Instruments and related products
do
Miscellaneous manufacturing
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
Service-producing*
do
Transportation, comm., elec, gas, etc* do
Wholesale and retail trade*
do
Wholesale trade*.
do
Retail trade*
do
Finance, insurance, and real estate*
do
Services*
do
500
377
503
968
1,010
1,178
1,171
1,218
261
316
5,836
1,186
63
839
1,168
523
654
580
117
448
258
31,015
3,844
13,439
3,181
10,258
2,984
10,748
527
524
402
408
520
527
965
984
1,037
1,049
1,201
1,236
1,214
1,238
1,250
1,248
269
276
330
331
5,919 ' 5, 902
1,185
1,180
63
59
864
871
1,170
1,165
531
537
656
657
576
581
117
117
478
489
262
261
32,018 31,763
3,867
3,883
13, 923 13,811
3,256
3,278
10, 645 10, 555
3,049
3,072
11,140 11,036
524
403
526
975
1,045
1, 223
1,222
1,252
272
••529
411
530
992
1,056
1,246
1,240
1,260
279
332
'5,912
1,168
57
874
1,164
540
657
580
117
492
263
32,144
3,871
13,983
3,296
10,687
3,083
11, 207
'531
••529
413
416
530
537
1,013
1,023
1,059
1,069
1,252
1,277
1,251
1,278
1,273
1,278
281
284
333
335
'5,929 ' 5, 958
1,174
1,175
54
55
875
882
1,171
1,168
541
545
659
658
587
585
117
118
495
505
262
261
32,231 32,353
3,885
3,922
14,025 14, 067
3,301
3,315
10, 724 10, 752
3,090
3,097
11, 231 11, 267
••535
539
'543
543
••538
421
424
419
426
428
547
550
539
539
538
1,025
1,033
1,031
1,033
1,027
1,075
1,082
1,091
1,104
1,108
1,298
1,314
1,324
1,328
1,343
1,288
1,306
1,316
1,337
1,349
1,294
1,305
1,310
1,327
1,334
292
287
295
289
298
343
339
343
338
338
' 5,975 ' 5, 900 5,988 ' 6,016 ' 6, 026
1,171
1,175
1,181
1,184
1,181
57
59
59
61
63
887
894
893
902
900
1,176
1,172
1,161
1,173
1,174
552
554
547
548
546
659
660
662
661
661
590
592
587
589
590
119
119
119
115
117
522
531
513
529
517
253
252
253
257
258
32,482 32,550 ' 32,692 32,881 ' 32,940
3,930
3,937
3,947
3,949
3,945
14,137 14,157 14, 211 14,320 14,362
3,319
3,324
3,350
3,363
3,372
10,818 10,833 10,861 10,957 10,990
3,106
3,111
3,111
3,127
3,134
11,309 11,345 11,423 11,485 11,499
'5,912
1,181
62
868
1,163
538
657
580
117
482
264
31,898
3,874
13,877
3,273
10,604
3,062
11,085
526
405
527
976
1,052
1,231
1,236
1,242
276
331
' 5, 945
1,201
62
870
1,163
539
657
580
117
491
265
32,009
3,879
13,911
3,283
10, 628
3,074
11,145
37.3
37.0
42.4
36.8
40.5
40.7
3.5
'37.1
36.9
42.4
36.8
40.5
40.5
3.4
37.1
37.4
42.6
36.9
40.9
40.6
3.4
37.2
37.6
42.2
37.0
40.4
40.6
3.4
37.1
37.6
42.5
37.0
40.6
40.6
3.5
37.3
37.4
42.7
36.9
41.0
40.8
3.6
37.3
37.3
42.5
37.4
40.8
40.7
3.6
37.2
37.1
42.4
36.9
41.0
40.8
3.7
37.0
37.2
41.8
35.8
41.2
40.7
41.4
3.7
42.1
41.1
40.7
42.0
41.3
41.3
41.9
40.7
42.9
40.6
39.5
Ml. 2
3.5
42.0
41.0
40.5
41.9
41.3
41.1
41.8
40.4
41.8
40.6
39.4
41.3
3.4
42.0
41.2
40.7
42.0
41.4
41.1
42.1
40.5
41.5
40.6
39.5
41.2
3.5
42.3
41.1
40.4
41.9
41.5
41.2
42.1
40.4
41.4
40.5
39.3
41.3
3. 6
42.6
41.2
40.5
41.9
41.6
41.2
42.2
40.5
41.4
40.6
39.4
41.4
3.8
42.3
41.3
40.5
42.0
41.9
41.3
42.4
40.6
41.9
40.7
39.5
41.4
3.8
42.5
41.0
40.3
42.1
42.2
41.4
42.4
40.6
41.7
40.6
39.3
41.7
3.9
42.3
41.0
40.3
41.8
42.7
41.6
42.6
40.8
42.2
40.5
39.3
39.8
3.5
40.6
34.2
41.6
36.1
39.6
3.2
40.4
33.8
41.3
35.7
39.7
3.3
40.4
34.3
41.3
35.9
39.6
3.3
40.4
34.2
41.2
35.9
39.7
3.3
40.3
35.3
41.3
36.0
39.8
3.4
40.3
34.4
41.4
36.2
39.8
3.4
40.4
35.5
41.3
36.2
39.8
3.5
40.3
35.4
41.3
36.1
329
' 528
409
529
969
1,049
1,234
1,234
1,253
276
330
' 5, 901
1,186
62
870
1,142
539
655
579
116
489
263
32,019
3,865
13,919
3,280
10,639
3,069
11,166
'541
533
431
555
1,043
1,034
1,121
1,118
1,362
1,357
1,372
1,363
1,344
1,351
299
296
342
343
' 6, 040 6,022
1,169
1,179
63
63
898
900
1,171
1,181
552
556
663
665
595
593
114
115
538
536
255
256
' 33,014 33, 042
3,968
3,952
14,395 14,395
3,377
3,382
11,013 11,018
3,139
3,138
11,529 11, 540
431
552
AVERAGE HOURS PER WEEK
Seasonally Adjusted
Avg. weekly hours per worker on private nonagric.
payrolls: ^Seasonallyadjusted
...hours.
Not seasonally adjusted
do...
Mining
do
Contract construction
do...
Manufacturing: Not seasonally adjusted... do.. .
Seasonally adjusted
do.-.
Overtime hours
_
do...
37.0
42.3
37.3
37.2
42.5
37.0
40.6
2.9
3.5
40.4
41.3
41.7
40.3
39.8
41.6
40.4
40.4
40.6
39.9
40.7
39.8
38.9
42.2
41.0
40.5
41.9
41.6
41.2
42.0
40.5
41.8
40.5
39.3
36.9
36.6
41.5
36.1
40.0
40.3
^37.1
36.9
41.9
37.0
40.8
40.9
'37.3
37.0
41.6
37.1
40.8
41.0
3.8
3.7
37.2
36.8
42.0
36.2
40.6
41.0
37.3
37.1
42.4
37.5
40.8
40.8
3.9
' 41. H
41.3
42.0
41.6
'41.8
42.5
39.8
40.0
41.6
42.4
41.6
42.6
40.5
42.4
40.6
39.1
42.5
39.9
39.0
41.1
42.4
41.4
42.4
40.4
42.3
40.4
38.7
42.7
40.7
40.6
42.2
42.4
41.9
42 9
4l!l
43.2
40.8
39.4
42.4
41.0
40.6
42.3
42.1
41.7
42.6
40.6
42.0
40.7
39.3
42.0
41.0
40.5
42.5
42.3
41.9
42.6
40.7
43.6
40.8
38.9
41.8
4.2
42.0
40.9
40.5
42.3
42.6
41.8
42.7
40.9
42.2
41.2
38.9
39.6
39.1
39.7
39.8
39.8
3.4
3.4
3.4
3.5
3.7
40.4
35.4
41.2
35.7
40.1
33.9
39.5
34.5
40.2
35.6
41.2
36.0
40.2
36.0
41.3
36.2
40.1
36.5
41.6
36.2
39.6
3. 3
40. 2
35.5
40.9
36.1
3.9
3.9
4.1
Durable goods.
_.
Overtime hours
_
_
Ordnance and accessories
Lumber and wood products
Furniture and
fixtures...
Stone, clay, and glass products..
Primary metal industries..
Fabricated metal products
Machinery, except electrical
Electrical equipment and supplies
Transportation equipment.
Instruments and related products
Miscellaneous manufacturing ind
do..
do..
do..
do..
do..
do..
do..
do..
do..
do..
do..
do..
do..
Nondurable goods
Overtime hours
Food and kindred products
Tobacco manufacturers
Textile mill products...
Apparel and other textile products
do.
do..
do..
do..
do..
do..
3.0
3.3
40.3
37.0
40.6
35.6
40.4
34.7
41.3
36.0
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.
42.1
37.5
41.6
42.4
40.3
37.7
42.8
37.9
41.8
42.2
41.2
38.3
•42.8
38.0
41.7
42.4
41.2
38.7
-42. 6
37.7
41.6
42.1
41.0
38.5
'42.9
37.8
41.9
42.1
41.2
38.6
42.8
37.9
41.8
41.7
41.0
38.4
43.0
37.9
41.8
41.8
41.3
42.9
38.2
41.9
42.3
41.2
42.9
38.0
42.0
42.3
41.3
37.9
'43.1
38.2
41.9
42.4
41.6
37.8
42.9
37.7
41.9
42.2
41.3
36.5
'42.5
37.8
41.6
41.9
41.0
37.2
43.0
38.0
42.0
41.9
41.5
37.8
'43.1
38.0
42.0
42.0
41.5
37.9
'42.8
38.0
41.9
41.8
41.5
38.3
42.7
37.8
42.0
42.1
40.9
37.9
do.
do
..do
do.
do..
do.
40.2
35.1
39.8
33.7
37.0
34.2
40.4
35.1
39.8
33.6
37.2
34.1
40.4
35.2
39.9
33.7
37.3
34.1
40.6
35.1
40.0
33.7
37.1
34.1
40.6
35.2
39.9
33.8
37.2
34.2
40.3
35.1
39.9
33.6
37.3
34.2
40.6
35.0
39.6
33.6
37.1
34.1
40.3
35.0
39.9
33.6
37.2
34.2
40.5
35.1
39.8
33.5
37.2
34.2
40.4
35.0
39.8
33.5
37.0
34.1
40.5
35.1
39.7
33.6
37.1
34.0
40.6
34.9
39.7
33.4
37.0
34.1
40.4
35.0
39.7
33.5
37.1
34.1
40.4
34.8
39.7
33.4
37.0
34.0
40.6
34.9
39.7
33.4
37.2
34.2
40.6
34.9
39.7
33.5
37.3
34.3
137. 72
111. 72
1.32
6.62
38.34
9.29
27.74
7.30
21.11
26.00
142.46
115.37
1.34
6.78
39.68
9.47
28.68
7.59
21.83
27.09
141. 70
114.58
1.34
6.71
39.43
9.42
28.52
7.56
21.60
27.12
142. 05
114.97
1.34
6.78
39.47
9.48
28.65
7.56
21.71
27.08
142. 66
115. 59
1.33
6.81
39.68
9.49
28.79
7.60
21.88
27.07
142. 26
115. 23
1.32
6.75
39.53
9.40
28.68
7.62
21.93
27.03
142. 67 143. 73 144. 27 144.60
115. 74 116. 26 116. 90 117. 20
1.34
1.35
1.33
1.34
6.94
6.83
6.84
6.78
40.35
39.78
40.05
40.69
9.58
9.49
9.46
9.58
28.88
28.76
28.88
29.01
7.68
7.65
7.61
7.67
22.12
21.94
22.04
22.14
27.37
26.92
27.47
27.40
144.52
117.10
1.32
6.46
40.74
9.62
29.11
7.71
22.15
27 AS
146.38 ' 147.02
118. 85 119.41
1.33
1.31
6.93
6.88
41.35
41.61
9.62
9.70
29.39
29.46
7.74
7.80
22.48
22.66
27.53
27.61
147. 49
119. 82
1.32
7.05
41.58
9.72
29.55
7.84
22.76
27.67
10<\6 ' 105. 8 ' 106. 1
9s. ,
97.4
97.4
97.5
96.9
97.2
104.3
105.3
105.5
106.7
98.0
96.6
105.8
Trans., comm., elec, gas, etc.
Wholesale and retail trade
Wholesale trade
Retail trade
Finance insurance, and real estate
Services
_
_
2.8
39.3
3.6
39.7
MAN-HOURS
Seasonally Adjusted
Man-hours of wage and salary workers, nonagric.
establishments, for 1 week in the month, seasonally adjusted at annual rate J..bil. man-hours..
Total private sector*
do
Mining
do...
Contract construction
..
do.
Manufacturing
do
Transportation, comm., elec, gas
do
Wholesale and retail trade
do
Finance, insurance, and real estate.
do
Services
do
Government*
do
Indexes of man-hours (aggregate weekly): t H
Private nonagric. payrolls, total*
1967 = 100
(jroods-producing*..
_._do...
Mining*
_
" "do
Contract construction*'"!"^"""""lido..I.
'Revised.
v Preliminary.
*New series.
JSee note " t " p. S-13.
and nonsupervisory workers.
1 Production
102.8
94.0
95.6
103.5
145.15 ' 146. 28
117. 67 118. 69
1.32
1.34
6.57
6.76
40.94
41.37
9.66
9.62
29.12
29.37
7.69
7.74
22.38
22.49
27.47
27.59
106.4 ••106.9 ' 107. 5 108.1 ' 108. 4 108.2 ' 108.4
109.8
99.2
97.6
98.4
100.1
100.5
99.5
99.8
102.1
97.8
97.0
97.8
96.1
97.4
95.8
95.9
97.5
106.2
106.2
107.9
105.0
99.7
101.4
105.0
104.7
NOTE FOR S-13: fRevisions (back to 1960), to adjust to the 1970
mates of the Population of the United States and Components
No. 499 (May 1973), Bureau of the.Census.
' 109.9 ' 110. 6 110.8
103.1
102.4
103.0
95.7
96.9
95.1
109.6
107.9
106.9
Census, appear in "Estiof Change: 1972, P-25,
OF (JUKIIKN'L1 BUiSINE
June 1973
Unless otherwise stated in footnotes below, data
through 1970 and descriptive notes are as shown
in the 1971 edition of BUSINESS STATISTICS
1971
Annual
S-15
1972
1972
Apr.
May
June
July
Aug.
1973
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May*
LABOR FORCE, EMPLOYMENT, AND EARNINGS—Continued
MAN-HOURS—Continued
Indexes of man-hours, private nonagric. payrolls,
goods-producing indus.t, Ifseas. adjusted—Con.
Manufacturing
1967 = 100_ _
Durable goods
do
Nondurable goods
do
Service-producing*
do
Transportation, comm., elec, gas*
do
Wholesale and retail trade*
do
Wholesale trade*
-..do
Retail trade*
do
Finance, insurance, and real estate*
do
Services*
do
HOURLY AND WEEKLY EARNINGS
Average hourly earnings per workenHJ
Not seasonally adjusted:
Private nonagric. payrolls
dollarsMining
do...
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
do...
Fabricated metal products
do...
Machinery, except electrical
do...
Electrical equipment and supplies. do
Transportation equipment
do... .
Instruments and related products..do...
Miscellaneous manufacturing i n d . - . d o . - .
Nondurable goods
do.. _
Excluding overtime
do. _.
Food and kindred products
do...
Tobacco manufactures
do...
Textile mill products
do...
Apparel and other textile prod
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 . d o . . .
Leather and leather products
do...
Transportation, comm., elec, gas
do...
Wholesale and retail trade
do...
Wholesale trade
do...
Retail trade
do...
Finance, insurance, and real estate
do.._
Services
do...
Seasonally adjusted:*
Private nonagricultural payrolls
do...
Mining
do...
Contract construction
do...
Manufacturing
do...
Transportation, comm., elec, gas
do...
Wholesale and retail trade
do...
Finance, insurance, and real estate
do...
Services
do...
Indexes of avg. hourly earnings, seas, adj.: ©*1f
Private nonfarm economy:
Current dollars
1967 = 100
1967dollarsA
do...
Mining
^
do...
Contract construction
do...
Manufacturing
do
Transportation, comm., elec, gas
do...
Wholesale and retail trade
do.. _
Finance, insurance, and real estate
do...
Services
do...
Hourly wages, not seasonally adjusted:
Construction wages, 20 cities (E N R ) : tf
Common labor
$ per h r .
Skilled labor
.
do...
Farm, without board or rm., 1st of mo
do...
Railroad wages (average, class I)
do...
Avg. weekly earnings per worker, Uprivate nonfarm:
Current dollars, seasonally adjusted*
1967 dollars, seasonally ad justed* A .
Spendable earnings (worker with 3 dependents):
Current dollars, seasonally adjusted
1967 dollars, seasonally ad justed A
92.3
89.1
97.1
108.9
102.7
106.7
105.5
107.1
116.1
112.8
3.43
4.06
5.69
3.56
3.44
3.79
3.66
3.84
3.15
2.90
3.66
4.23
3.74
3.99
3.48
4.41
3.52
2.97
96.8
94.9
99.5
112.5
104.4
110.4
109.0
110.9
120.1
116.8
'96.2
94.0
99.5
111.7
103.9
109.7
108.4
110.2
119.6
115.5
'96.0
94.0
99.0
112.2
104.6
110.3
109.3
110.7
119.5
116.1
'96.7
94.5
99.9
112.8
104.7
110.8
109.3
111.3
120.3
117.0
'96.4
94.6
99.1
112.5
103.6
110.3
109.2
110.7
120.4
117.2
'97.1
95.5
99.5
112.8
104.5
110.6
108.9
111.2
120.3
117.3
'98.0
96.6
100.0
113.2
104.1
111.2
109.9
111.6
120.9
117.9
'98.8
97.8
100.4
113.6
105.6
111.2
110.1
111.6
121.2
118.3
99.2
100.7
113.8
105.6
111.7
110.3
112.3
120.9
118.4
99.6
100.4
114.1
106.0
112.0
110.1
112.8
121.4
118.4
99.3
99.6
98.8
114.5
106.6
112.0
111.0
112.4
121.1
119.6
101.7
102.1
101.2
115.2
106.1
113.1
111.4
113.7
122.0
120.2
101.6
101.7
101.6
115.1
106.0
113.2
111.7
113.7
122.0
120.0
102. 6
103.2
101.8
115.8
106.7
113.4
112.1
113.9
122.8
121.1
3.61
4.36
5.96
3.76
3.62
4.01
3.85
4.06
3.26
3.03
3.85
4.60
3.94
4.22
3.62
4.69
3.70
3.09
3.62
4.33
6.01
3.78
3.63
4.02
3.86
4.07
3.29
3.03
3.87
4.61
3.95
4.24
3.64
4.71
3.71
3.10
3.63
4.34
5.94
3.79
3.63
4.03
3.86
4.09
3.33
3.05
3.91
4.62
3.98
4.26
3.65
4.69
3.71
3.10
3.64
4.35
5.96
3.78
3.63
4.01
3.85
4.10
3.34
3.04
3.93
4.64
3.97
4.24
3.66
4.63
3.70
3.09
3.74
4.47
6.23
3.89
3.72
4.14
3.95
4.13
3.40
3.13
4.00
4.80
4.07
4.38
3.74
4.87
3.74
3.15
3.74
4.55
6.32
3.95
3.78
4.21
4.01
4.18
3.38
3.15
4.02
4.81
4.13
4.44
3.79
5.01
3.83
3.19
3.77
4.60
6.42
3.98
3.81
4.23
4.04
4.18
3.45
3.15
4.03
4.87
4.13
4.44
3.80
5.00
3.82
3.24
3.78
4.55
6.31
3.97
3.80
4.23
4.03
4.15
3.47
3.17
4.04
4.86
4.15
4.45
3.78
5.00
3.82
3.22
3.44
3.31
3.61
3.49
2.71
2.57
3.87
4.47
4.16
4.95
3.55
2.71
4.57
2.99
3.84
2.69
3.43
3.15
3.45
3.31
3.59
3.53
2.72
2.59
3.92
4.47
4.20
4.94
3.56
2.70
4.58
3.00
3.85
2.69
3.43
3.14
3.48
3.34
3.59
3.57
2.71
2.58
3.97
4.49
4.23
4.97
3.61
2.70
4.66
3.01
3.87
2.70
3.45
3.14
3.72
4.42
6.15
3.86
3.68
4.11
3.92
4.15
3.38
3.11
3.99
4.75
4.05
4.33
3.72
4.80
3.74
3.13
3.51
3.36
3.61
3.35
2.75
2.65
4.01
4.56
4.26
5.00
3.66
2.72
4.74
3.05
3.91
2.73
3.47
3.23
3.74
4.41
6.22
3.86
3.69
4.11
3.92
4.13
3.37
3.12
4.02
4.74
4.05
4.35
3.71
4.81
3.73
3.13
3.43
3.30
3.59
3.46
2.71
2.58
3.86
4.44
4.12
4.93
3.55
2.70
4.55
3.00
3.86
2.68
3.45
3.16
3.66
4.37
6.03
3.80
3.64
4.04
3.87
4.10
3.33
3.08
3.96
4.69
3.99
4.26
3.68
4.71
3.71
3.09
3.47
3.32
3.57
3.38
2.73
2.61
3.97
4.49
4.23
4.94
3.63
2.70
4.70
3.01
3.86
2.70
3.44
3.14
3.52
3.37
3.63
3.38
2.76
2.67
4.02
4.55
4.28
5.01
3.69
2.72
4.80
3.06
3.93
2.74
3.48
3.24
3.53
3.38
3.66
3.49
2.78
2.68
4.03
4.56
4.29
5.02
3.68
2.72
4.82
3.07
3.94
2.75
3.49
3.25
3.58
3.43
3.72
3.49
2.83
2.69
4.06
4.59
4.33
5.03
3.72
2.74
4.86
3.07
3.99
2.75
3.52
3.27
3.61
3.47
3.75
3.56
2.87
2.72
4.06
4.56
4.36
5.09
3.74
2.77
4.87
3.11
3.99
2.78
3.54
3.27
3.59
3.45
3.75
3.65
2.88
2.72
4.07
4.58
4.35
5.09
3.73
2.78
4.90
3.13
4.02
2.80
3.56
3.80
4.55
6.28
3.98
3.81
4.23
4.03
4.17
3.47
3.19
4.07
4.88
4.15
4.46
3.79
4.96
3.82
3.23
3.61
3.46
3.77
3.70
2.88
2.73
4.08
4.60
4.36
5.15
3.73
2.80
4.89
3.14
4.03
2.81
3.55
3.30
3.82
4.58
6.30
4.01
3.83
4.26
4.06
4.20
3.48
3.21
4.11
4.92
4.19
4.50
3.81
5.01
3.82
3.22
3.63
3.48
3.78
3.81
2.90
2.74
4.11
4.62
4.38
5.25
3.76
2.79
4.92
3.16
4.06
2.83
3.58
3.32
3.67
4.41
3.73
'4.41
6.15
'3.88
4.80
3.06
3.49
'3.23
'3.73
'4.44
6.19
3.89
'4.81
3.07
3.49
'3.24
3.75
'4.53
6.29
3.93
'4.85
'3.09
3.53
3.27
3.77
4.58
6.37
3.97
4.86
3.09
3.53
3.26
3.78
'4.52
3.83
'4.69
3.03
3.45
'3.17
3.69
4.42
6.10
3.86
4.70
3.05
3.48
3.21
'3.96
4.90
3.11
3.53
3.27
3.81
4.54
6.31
3.98
4.92
3.13
3.54
3.30
3.83
4.57
6.34
4.01
4.93
3.15
3.57
3.32
142.3
111.3
142.4
154.0
139.5
150.4
138.7
136.8
142.2
142.5
110.7
141.5
151.6
139.7
151.5
139.2
137.0
142.3
143.3
110.4
142, 5
152.6
140.4
152.1
140.2
136.9
143.6
144.1
110.3
143.1
153.3
141.0
153.1
141.0
139.0
144.9
9.410
1.98
9.410
6.897
9.414
6.910
9.490
1.97
138. 76
109. 28
138. 75 139.11
109.05 108. 79
140. 62
109. 22
141. 35
108. 83
142. 86
109.30
123.14
96.98
123.14
96.78
122. 51
95.81
123. 70
96.08
124. 26
95.67
125.43
95.97
3.26
3.14
3.38
3.15
2.57
2.49
3.67
4.20
3.94
4.57
3.40
2.60
4.20
2.87
3.67
2.57
3.28
3.01
4.38
6.06
3.81
3.65
4.05
3.88
4.09
3.31
3.06
3.91
4.66
3.99
4.27
3.67
4.73
3.72
3.11
3.47
3.33
3.60
3.43
2.73
2.61
3.94
4.48
4.20
4.95
3.60
2.71
4.64
3.02
3.88
2.70
3.45
3.18
3.43
4.06
5.69
3.56
4.20
2.87
3.28
3.01
3.65
4.38
60.6
3.81
4.64
3.02
3.45
3.18
3.62
4.35
'6.00
3.76
'4.56
2.99
3.44
'3.16
3.62
4.34
'6.01
3.78
4.58
2.98
'3.42
3.15
3.63
4.37
6.01
3.79
'4.60
3.00
'3.44
'3.16
'3.65
4.39
'6.02
3.79
4.65
3.02
3.45
'3.16
129.7
106.9
127.2
138.1
127.5
130.0
128.3
126.8
131.1
137.9
110.1
136.7
146.9
135.4
143.7
135.0
133.4
138.4
136.6
109.9
135.5
145.2
133.9
141.8
133.9
133.4
137.9
136.7
109.7
135.3
145.4
134.5
141.7
133.8
132.5
137.4
137.2
109.9
136.3
145.6
135.0
142.1
134.5
133.0
137.5
138.0
110.1
137.3
145.8
135.5
144.0
135.3
133.9
138.3
138.5
110.2
137.7
147.0
136.1
145.1
135.5
133.8
138.4
139.3
110.4
138.1
148.0
136.8
145.9
136.5
134.9
139.7
140.4
110.9
137.8
149.2
137.5
148.2
137.2
135.4
140.7
140.7
110.8
138.4
149.6
138.0
148.7
137.4
135.2
141.0
141.9
111.5
140.9
151.8
138.8
150.1
138.4
136.5
142.0
6.010
8.340
1.73
14.416
6.642
9.146
1.84
6.443
8.906
1.84
6.582
9.063
6.704
9.174
6.758
9.255
1.85
6.773
9.280
6.786
9.337
6.813
9.490
1.82
9.378
6.841
9.396
135. 78
108.35
136.16
108. 36
137. 64
109. 07
120. 79
96.39
121. 09
96.36
122. 26
96.89
139.13
109. 89
123. 43
97.49
126.91
104.62
112.12
92.43
6.29
4.885
135. 78 135. 03 134.30 134. 67
108. 36 108. 63 107. 72 107. 88
120.79 120. 20 119. 63 119. 92
96.40 96.70
95.95
96.07
Current dollars, not seasonally adjusted:J
135. 78 133.57 133.58 135.76
Private nonfarm, total
dollars.. 126.91
186.15 184.86 183.16 186.62
Mining
do
171.74
224. 22 218.14 221.17 223.34
Contract construction
do
212. 24
Manufacturing
:
do.
154. 69 152. 28 153.09 155.01
142.04
167. 27 165.21 165.62 167.65
Durable goods
do.
153.12
137. 76 135.49 135.88 137.66
Nondurable goods
do
128.12
187. 46 181.55 184.17 186.86
168.84
Transportation, comm., elec, gas.
do
106.00 104.40 104.05 106.50
100.74
Wholesale and retail trade
do
154. 42 153.24 152.83 154.00
146.07
Wholesale trade
do
90.72 89.24 89.58 91.73
Retail trade
do.
86.61
128.34 128.69 126.91 127.60
121.36
Finance, insurance, and real estate
do.
108. 44 107.44 106.47 107.39
Services
do.
102.94
' Revised.
v Preliminary.
i Includes adjustments not distributed by months.
JSee corresponding note, p. S-13.
^Production and nonsupervisory workers.
*New
series.
QSource: USDL, Bureau of Labor Statistics; the indexes exclude effects of changes in the
of workers in high-wage and low-wage industries, and the total and manufacturing
Digitized proportion
for FRASER
••6.07
137. 62 139.13 139.50 138.75 139.13 137. 98 139.10 140. 22 141.34
186. 60 189.18 189.19 189.98 191.10 189.98 188.37 188. 37 190. 53
230.35 234.93 237.60 224. 28 222. 46 223.42 220.22 229. 85 232.47
154. 28 158. 26 157. 49 159. 49 162. 74 159.20 161.18 162.38 163. 61
166. 04 171. 39 170.57 173. 05 177.24 173.43 175.97 175.97 177. 22
138. 80 140. 40 140.10 141.20 142. 84 139.71 141. 09 142. 96 143. 39
191. 76 191.97 194.88 195.21 197. 80 195.77 197.47 196. 58 197. 29
108.06 107. 06 106.79 106.53 108.37 107.30 107. 99 108.33 109.02
153.63 156. 01 156.41 156.81 160.00 157.61 158.79 159. 59 160. 37
92.45 93.39
92.12
93.23 91.46
91.73
93.69
91.24 91.30
127.97 128.74 129.80 129.13 130. 59 130.98 132.08 131.35 133.18
108. 64 110.47 110. 48 110.50 111. 18 110.85 111.19 111. 87 113. 21
indexes also exclude, for the manufacturing sector only, effects of fluctuations in overtime
premiums. See also note *%" p . S-13. tfWages as of June 1, 1973: Common, $7.04; skilled,
$9.52.
AEarnings expressed in 1967 dollars are adjusted for changes in purchasing power
since the base period, 1967, by dividing by the Consumer Price Index for the respective period.
136.86
184.44
225.88
152.71
164.01
138.16
189.66
108.36
155.19
93.69
129.03
109. 27
VJDI UJb I
S-16
Unless otherwise stated in footnotes below, data
through 1970 and descriptive notes a r e a s shown
in the 1971 edition of B U S I N E S S S T A T I S T I C S
1971
1972
June 1973
1972
Apr.
Annual
5S
15U£
May
June
July
Aug.
1973
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
LABOR FORCE, EMPLOYMENT, AND EARNINGS—Continued
HELP-WANTED ADVERTISING
Seasonally adjusted indexf
1967=100.
LABOR TURNOVER!
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
New hires
do
Separation rate, total
do
Quit
do
Layoff
do
82
100
95
3.9
2.5
4.2
1.8
1.6
4.4
3.3
4.2
2.2
1.1
4.0
2.9
3.7
2.0
1.0
4.8
3.6
3.9
2.2
4. 4
3.2
3.9
2.2
1.1
34
131
115
356.0
609
26
75.7
107
5.2
4.1
4.2
2.2
1.1
4.6
3.4
4.8
2.2
1.7
6.0
4.4
5.4
3.6
4.6
3.6
4.2
2.3
1.0
4.0
2.9
4.5
2.2
1.4
4.4
3.2
4.3
2.2
1.2
440
640
510
720
425
670
146
217
2,031
126
203
2,139
2,431
109
109
117
122
'119
'121
5.3
4.2
5.3
3.4
4.8
3.8
4.3
2.5
3.6
2.9
3.7
1.9
1.0
2.7
2.0
3.6
1.6
1.3
4.6
3.5
4.2
2.2
1.0
4.0
3.1
3.7
2.1
'4.4
'3.5
4.2
'2.5
4.5
3.3
4.2
2.4
1.0
4.4
3.3
4.1
2.1
1.0
4.6
3.5
4.0
2.3
.9
4.5
3.6
4.1
4.9
4.0
4.4
2.6
.9
4.8
3.9
4.4
2.7
.9
'4.9
'4.0
4.7
2.4
.9
4.3
3.5
4.1
2.5
1.0
380
640
360
440
710
320
560
270
510
200
410
311
388
3,513
177
426
3,185
108
198
2,492
129
214
2,049
139
196
1,065
93
136
1,075
41
99
914
310
480
118
145
1,433
2,105
1,952
2,088
1,763
1,554
1,512
1,692
1,993
947
2,005
991
1,740
1,095
1,636
1,378
1,823
974
1,565
795
1,388
955
1,357
1,119
1,507
3.8
3.6
1,830
472.9
3.3
3.7
1,503
429.2
3.1
3.6
1,342
382.1
3.4
3.7
1,376
2.9
3.4
1,294
363.0
2.6
3.4
1,116
280.1
2.5
3.4
1,129
280.3
2.7
3.3
1,203
307.2
1,347
1,801
3.3
3.0
1,350
342.0
3.8
2.7
1,758
1465.3
36
28
29
39
38
38
39
39
37
34
523
106
102
361.8
127
127
31.7
47
119
114
32.6
43
110
112
30.9
40
107
104
27.5
38
95
99
28.5
20.9
31
69
66
18.2
30
67
66
18.0
35
70
64
16.9
39
76
74
20.9
35
76
72
17.7
20.0
105
20
51.5
2
23
4.1
15
3.5
11
14
2.8
27
18
2.9
10
17
3.7
18
3.4
6
16
12
20
3.5
11
16
3.8
7
21
5.9
3
18
26
15
3.7
9
13
2.9
INDUSTRIAL DISPUTES
Work stoppages:
Number of stoppages:
5,138 * 5,100
Beginning in month or year
number..
In effect during month
do
Workers involved in stoppages:
3,280 v 1, 700
Beginning in month or year
thous...
In effect during month
do
~47,"589" *~26~666"
Man-days idle during month or year
do
UNEMPLOYMENT INSURANCE
Unemployment insurance programs:
Insured unemployment, all programs, average
2,186
2,593
weekly §9
thous..
State programs:
13, 580
15,337
Initial claims
do
Insured unemployment, avg weekly...do
1,848
2,150
Percent of covered employment:^
3.5
4.1
Unadjusted
Seasonally adjusted
v
1,
470
1,814
Beneficiaries, average weekly
thous..
Benefits paid
mil. $.. »4, 957.0 4,471. 0
Federal employees, insured unemployment,
average weekly
thous..
Veterans' program (UCX):
Initial claims
do
Insured unemployment, avg weekly__.do
Beneficiaries, average weekly.
do
Benefits paid
mil. $..
Railroad program:
Applications
..
thous..
Insured unemployment, avg weekly...do
Benefits paid
mil. $_.
103
122
M.I
P 2.4
P.7
P4.9
P3.9
P4.4
'2.9
.9
590
410
670
470
710
141
200
1.281
110
156
1,330
146
167
1,890
2,333
2,250
2,075
1,828
1,539
2,124
' 1, 000
916
2,062
3.7
3.4
2.7
2.8
1,794
1
415.0 1412.3
1,669
2.8
2.7
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.I.!
7,889
2 31,103
11,418
2 19,685
6,898
34,721
12, 172
22, 549
7,734
32,814
12,926
19,888
7,443
33,055
12,560
20,495
7,069
33,482
12,867
20,615
6,643
33,891
12,923
20,968
32,998
12,944
20,054
6,602
32,645
13,088
19,557
6,864
6,748
34, 073 34,067
13,558 13,221
20,515 20,846
34,721
12,172
22,549
6, 564
35, 727
12, 552
23,175
6,734
35,196
10, 924
24, 272
6,859
34,052
9, 359
24,693
6,713
34, 404
9,334
25, 070
16,347
18, 294
17,299
17,461
17,667
17,654
17,722
17,872
18,012
18,046
18, 294
18, 925
19,343
19, 733
20,075
7,917
2,076
6,354
9,107
2,998
8,238
2,260
6,801
8,343
2,181
6,937
8,430
2,145
7,092
8,517
2,137
7,000
8,631
2,156
6,935
8,749
2,233
6,890
8,857
2,335
6,799
8,972
2,313
6,761
9,107
2,298
6,889
9,251
2,808
9,387
2, 936
7,020
9,591
2,895
7,246
9,767
2,859
7,449
Bank debits to demand deposit accounts, except
interbank and U.S. Government accounts,
annual rates, seasonally adjusted: ©
Total (233 SMSA's)©
.
bil $
New York SMSA
.~_.~_do__~
Total 232 SMSA's (except N.Y.)
6 other leading SMSA's 1
226 other SMSA's
13,167.5 13,399.3 13,280.6 12,994.0 13,969.4 14,022.7 13, 896. 715,154. 7 14,783. 6
5,801. 4 5,939. 2 5,780.8 5, 633. 0 6,151.8 6, 285.1 6,148. 6 6,979. 3 6, 604.8
7,366.1 7,460.0 7,499.7 7.361.0 7,817. 6 7,737. 6 7, 748.1 8,175. 4 8,178.
3, 053.1 3,148.8! 3,096.4 2,996. 3 3, 233. 0 3,191.0 3, 225. 8 3, 411. 3, 495. 4
4,313. 0 4,311.2 4,403.4 4,364. 7 4,584. 6 4,546. 5 4, 522.3 4, 763. 5 4, 683. 4
do
do
do
Federal Reserve banks, condition, end of periodAssets, total?
mil. $_
15,473.1 16,049.0 15,934.5 16,000. 3
6,855. 4 7,227.0 6,844. 8 6,927.5
'8,617.7 '8,821.9 '9,089.7
'3,653.7 '3,788.3 3,856.3
'4,964.1 '5,033.7 '5,233.4
9,072.8
3,873.7
5,199.1
99,541 98,658 100,039 93,635 97, 675 99,061 99,492 99,325 ' 100,010
76,474 74,859 75,173 73,476 77, 291 77, 228 78,228 79,598 • 79,832
1,564
2,048 ' 1, 716
501
1,981
239
1,310
1,092
481
69,501 69, 906 72,022 72,620 74,276 75, 495
69,874
70,218
70,094
71,607 71,356 70,822 70,740
Gold certificate account
do
10,303 10,303 10, 303 10,303 10,303 10,303
10,303
9,475
10,303
9,875
10,303
10,303 10,303 10,303 10,303
Liabilities, total?
do.
93,635 97,675 99,061 99,492 99,325 • 100,010
97,675 98,197
98,658
99,523
100,039
01,533 99,746 99,440 99,541
Deposits, total
__do
28, 667 30,152 32,423
29,719 29,159 25, 666 28,667 30,458 30,814 31,626 30,968
29,263
31,475
25, 647 27,415 29,538 30,942 26,185 30,738 27,515 26,757 23,667 25, 647 26,727 27,653 27,713 25, 700
Member-bank reserve balances
...do
27,780
Federal Reserve notes in circulation
do
59, 914 54,478 55,210 27,482 56,127 28, 227 56,351 57,062 58, 419 59,914 58,402 58,466 58,676 59,414 60, 223
54,954
55,702
56,347
' Revised.
v Preliminary.
i See note "§", this page.
2 Beginning Dec. 1971, data
cflnsured unemployment as % of average covered employment in a 12-month period.
on new basis reflect inclusion of paper issued directly by real estate investment trusts and
©Series revised to reflect recalculation of seasonal factors and trading-day adjustment;
several additionalfinancecompanies. § Insured unemployment (all programs) data include
revisions back to 1964 are shown in the July 1972 Federal Reserve Bulletin, p. 634.
|See
claims filed under extended duration provisions of regular State laws; amounts paid under
note "t", p. S-13.
these programs are excluded from the annual figure and, beginning Jan. 1973, from
©Total SMSA's include some cities and counties not designated as SMSA's.
the monthly data.
^Includes Boston, Philadelphia, Chicago, Detroit, San Francisco-Oakland and Los
Digitizedt for
FRASER
Angeles-Long Beach.
9 Includes data not shown separately.
Revised (back to 1951) to reflect new seasonals and other modifications.
Reserve bank credit outstanding, total 9 - d o
Discounts and advances
do
U.S. Government securities
do.__I
99,523
97,675
98,197
101,533
99,746
75,821
39
77, 291
1,981
69, 906
74,405
60
70,307
77,234
1,594
75,964 74,154
83
130
99,440
June 1973
OF CJUKb
1971
Unless otherwise stated in footnotes below, data
through 1970 and descriptive notes are a s shown
in the 1971 edition of B U S I N E S S S T A T I S T I C S
3-17
1972
1972
End of year
Apr.
May
June
July
Au,
1973
Sept.
Oct.
Nov.
Dec.
31,774
31,460
4
314
606
4
-292
31,353
31,134
219
1,049
-830
97,444
106,21'
Jan.
Feb.
Mar.
Apr.
32,962 31,742
32,620 31,537
342
205
1,165
1,593
- 8 2 3 -1,388
31,973
31,678
295
1,858
-1,563
32,284
32,128
156
1,721
-1,560
97,765
• 96,237 • 97,247
May
FINANCE—Continued
BANKING— Continued
All member banks of Federal Reserve System,
averages of daily figures:
Reserves held, total©
mil. $. 131,329 131,353
Required
do._- i 31,164 i 31,134
Excess©
do__.
1219
U65
Borrowings from Federal Reserve banks . . . d o . . .
U07 11,049
Free reserves©
do
158
Large commercial banks reporting to Federal Reserve System, Wed. nearest end of yr. or mo.:
Deposits:}
Demand, adjustedcT----...mil. $.
91,683
32,565
32,429
136
109
27
106,219
32,812
32,708
104
119
-15
32,539
32,335
204
94
110
33,021 33,148
32,874 32,893
147
255
202
438
—55
-183
33,003
32,841
162
514
-352
33,803
33,556
247
574
-327
90,922
91,204
91,910
91,964
98,220
91,355
4
95,489
Demand, total 9
Individuals, partnerships, and corp
State and local governments
U.S. Government
Domestic commercial banks
do
do
do
do
do
152,699
106,885
6,563
7,571
20,880
169,768 148,502 150,176 146,199 147,378 140,450 146,133 155,144 152,024 169,768 156,909 157,135 149,421 156,705
121,308 101,536 105,300 102,356 104,095 102,374 103,334 109,379 108,876 121,308 110,248 109,337 105,786 109,068
7,221
6,491
7,165
6,744
7,200
7,180
6,582 ' 7,504
6,872
7,221
7,403
6,483
6,038
6,968
6,469
4,472
6,479
8,614
5,027
6,289
5,726
6,469
7,258 ' 7,447
1,715
3,888
4,824
7,230
22,412 20,694 21,541 20,034 20,957 20,357 20,010 21,947 20,620 22,412 21,992 22,531 19,059 21,021
Time, total 9
Individuals, partnerships, and corp.:
Savings
Other time
do.
140,932
160,661 147.113 149,081
do.
do.
54,542
61,274
Loans (adjusted), totalcft
Commercial and industrial
For purchasing or carrying securities
To nonbank financial institutions. __
Real estate loans
Other loans
do.
do.
do.
do_
do.
do..
Investments, totalt
U.S. Government securities, total
Notes and bonds
Other securities
do..
do..
do..
do..
192,238 226,042
91,442
83,770
8-, 835 12,535
20,524
14,504
45,992
38,400
57,183 = 72,063
81,033
28,944
24,605
52,089
Commercial bank credit (last Wed. of mo., except
for June 30 and Dec. 31 call dates), seas. adj.:
Total loans and investments©
bil. $..
Loans©
do
U.S. Government securities
do
Other securities
do.
485.7
320.6
60.7
104.5
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
8 north central centers...
7 southeast centers
8 southwest centers
4 west coast centers...
58,572
72,334
2 6.32
6.01
6.56
2
2
2
do
.do
..do....
do
2
2
2
Discount rate (N.Y.F.R. Bank), end of year or
month
percent..
6.30
6.62
6.46
6.38
57,294 57,624
62,598 64,405
149,64- 152, 111 155,495 156,270 157,686 158,858 160,661 162,936 168,212 174,302 176,383
57,844
65,476
57,892
67,564
59,827
70,796
58,113
71,778
58,184
73,103
58,572
72,334
58,186
74,310
58,091
78,195
81,180
27,076
23,461
54,104
81,159
26,958
23,114
54,201
80,065
26,009
22,384
54,056
79,962
25,770
22,502
54,192
80,031
25,651
22,085
54,380
' 557.5
378. 2
'62.4
r
116. 9
507.4
335.9
62.6
108.9
516.1
341.9
63.1
111.1
517.5
343.7
63.2
110 6
521.3
347. 8
62.3
111.3
529.1
355. 3
61.4
112. 5
81,013
26,307
21,535
54,706
81,615
25,985
21,837
55,630
27,925
22,357
55,469
85,146
29,133
22,552
56,013
84,343
28,926
22,426
55,417
25,663
21,066
55,205
2 5.82
5. 57
6.07
5.59
5.28
5.81
6.55
6.14
6.33
i.09
6.61
6.52
6.22
6.89
2 5.74
6.07
22 6.02
5.80
5.54
5.78
5.88
6.60
5.79
6.06
6.07
5.82
6.27
6.56
6.36
6.41
6.45
6.76
6.63
'6.50
2
80,653
25,373
20,473
55,280
• 535. 6 • 540. 5 " 549. 8 • 557. 5 • 564. 6 • 573. 7 582.6
' 360.1 • 366. 9 373.6 • 378. 2 385. 5 • 396. 2 404.9
'61.9
60.6
62.0
60.2
59.9
60.6 ' 6 2 . 4
117.1 ' 117. 2 117.2
' 113.5
113.6
115. 6
116. 9
2
2
2
58,591 ' 58,095
82,599 83,264
199,546 199,954 203,086 206,437 206,401 211,016 215,876 217,337 226,042 225,628 232,731 '238,308
85,283 84,637 84,954 85,307 85,011 86,631 88,014 88,642 91,442 92,314 96,250 ' 99,872
10,624 10,477 10,588 11,423 10,924 11,279 12,218 11,868 12,535 12,007 11,457 10,671
14,910 14,898 16,043 16,279 16,527 17,030 18,234 18,249 20,524 19,850 20,938 22,246
40,630 41,241 41,992 42,846 43,517 44,112 44,972 45,630 e 45,992 46,473 46,955 47, 501
59,181 58,714 60,954 62,615 61,738 63,117 63,989 66,363 72,063 68,619 72,218 72,812
85,146
29,133
22,552
56,013
r
58,069
70,841
6.84
'242,967
'102,487
9,999
' 23,159
' 48,200
' 74,540
'
'
'
'
79,611
24,495
19,984
55,116
585. 3
408. 0
60.6
116.6
4.50
4.50
4.50
4.50
4.50
4.50
4.50
4.50
4.50
4.50
5. CO
5.50
5.50
5.60
2 6.37
2 6.00
6.00
6.90
5.86
5.81
5.81
5.84
5.90
6.05
6.20
6.32
6.40
6.50
6.71
Home mortgage rates (conventional 1st mortgages):
New home purchase (U.S. avg.)
percent
Existing home purchase (U.S. avg.)
do
2 7.59
2 7.54
2
2 7.45
7.38
7.38
7.30
7.40
7.33
7.41
7.36
7.43
7.37
7.45
7.39
7.43
7.42
7.48
7.43
7.50
7.44
7.51
7.45
«7.68
5 7.68
7.70
7.72
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
3 4.85
3 5.11
3 4.91
3 5.73
3 4.47
3 4.69
3 4.52
3 5.16
4.43
4.58
4.38
4.88
4.25
4.51
4.38
5.00
4.47
4.64
4.45
5.00
4.73
4.85
4.72
5.23
4.67
4.82
4.58
5.25
4.84
5.13
4.91
6.25
5.05
5.30
5.13
5.70
5.01
5.25
5.13
5.75
5.16
5.45
5.24
5.75
5.60
5.78
5.56
6.01
6.14
6.22
5.97
6.29
6-82
6.89
6.44
6.80
6.97
7.14
6.76
7.00
4.348
3 5.77
3 4.071
3 5.85
3.723
6.01
3.648
5.69
3.874
5.77
4.059
5.86
4.014
5.92
4.651
6.16
4.719
6.11
4.774
6.03
5.061
6.07
5.307
6.29
5,558
6.61
6.054
6.85
6.74
Federal intermediate credit bank loans
4.50
do
Yield on U.S. Government securities (taxable):
3-month bills (rate on new issue)
percent
3-5 year issues.
do
3
'7.71
'7.70
CONSUMER CREDIT f
(Short- and Intermediate-term)
Total outstanding, end of year or month
Installment credit,total
Automobile paper
Other consumer goods paper
Repair and modernization loans
Personal loans..
By type of holder:
Financial institutions, total
Commercial banks
Finance companies
Credit unions
Miscellaneous lenders
mil. $.
138,394
157, 564
39, 410 .41, 450 .43, 812
45, 214 .47, 631 .48, 976 ^50,576 152, 968
do....
111,295
127,332
12,439
17, 702 .19, 911
do
do
do...
___ do
14,183 .16,365
24, 325
27,332
.27,368
.27,959
59,320 [61,491
.29,375
,022
46,478
40,441
6,408
37,695
38,664
34,353
5,413
32,865
44,129
40,080
6,201
36, 922
39,348
33,981
5,504
33,606
40,063
34,439
5,604
34,077
42, 644
36, 745
6,049
35, 755
43,162
37,216
6,124
36,003
43, 674
38,064
6,174
36,413
44,353
39, 952
6,193
36,870
44,817
39,795
6,239
37,108
45,610
39,951
6,328
37,486
do
.do.
do....
97,144
61,240
111,382
59,783
32,088
99,139
52,629
28,955
00, 840 .02,909 L04,132 .06,146 .07, 278
53,624 54,883 55,688 56,846 57,566
29,310 29,722 30,065 30,464 30,650
08,405
58,266
30,970
09,673 .11,382 .11,690
58, 878 59,783 60,148
31,427 32,088 32,177
12,630
60,582
32,431
14,190 .15,727
61,388 62,459
32,750 33, 078
do....
do.-do..
do...
14,770
2,251
16, 913
2,598
15,083
2,472
15,395
2,511
16,556
2,613
16,742
2,626
16,973
2,644
17,239
2,813
41,019
35,041
5,717
34,588
15,786
2,518
Retail outlets, total
._
14,151
15, 950 13,300 13,343 13,456
226
232
Automobile dealers
261
237
243
r
Revised, v Preliminary.
* Corrected.
i Average
for Dec.
2 Average for year.
3 Daily average.
* See note "< for this
5
Beginning Jan. 1973, data reflect changes in sample and weighting.
©Beginnmg Nov. 1972, data are not comparable with those for earlier periods because of regulatory
changes affecting reserve requirements (Regulation D) and check collection processing
(Regulation J) that became effective in early November.
cf For demand deposits, the term "adjusted" denotes demand deposits other than domestic
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
21,193 i22,505
57, 564 .57, 227 57,582
41,603
35,470
5,799
34,832
15,910
2,469
42,323
36,188
5,950
35,450
16,278
2,558
16,439
2,623
44.129
40,080
6,201
36,922
16,913
2,598
16,847
2,518
17,455
2,735
13,570 13,765 13,915 14,100 14,652 15,950 15,678 15,329 15,185 15, 295
257
259
261
263
266
248
251
253
272
278
after deduction of valuation reserves (individual loan items are shown gross; i.e., before deduction of valuation reserves).
XRevisions for months prior to Feb. 1971 will be shown later.
9Includes data not shown separately.
©Adjusted to exclude interbank loans.
§For bond yields, see p. S-20.
.
1FRevised: new data incorporate adjustment of sample-based estimates to reflect recent
benchmarks and new seasonal factors. Monthly revisions appear in the October 1972 Federal Reserve Bulletin.
SURVEY
S-18
1971
Unless otherwise stated in footnotes below, data
through 1970 and descriptive notes are a s shown
in the 1971 edition of B U S I N E S S S T A T I S T I C S
CURRENT BUSINESS
1973
1972
1972
Apr.
Annual
June
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
FINANCE—Continued
CONSUMER CREDIT 1f— Continued
Outstanding credit—Continued
Noninstallment credit, total
mil $_
Single-payment loans, total
do.__
Commercial banks
do...
Other financial institutions
.do...
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
28,643 30,232
11,917 12,256
10,527 10,857
1,399
1,390
27,099
10,585
9,316
1,269
30, 232
12, 256
10, 857
1,399
26,971
10,933
9,594
1,339
27,267
11,066
9,717
1,349
27,447
11,181
9,831
1,350
27,512
11,235
9,900
1,335
27,720
11,411
10,053
1,358
27,783
11,541
10,165
1,376
28,071
11,717
10,339
1,378
do.
do.
do.
do.
8,350
8,397
1,953
8,164
9,002
7,055
1,947
8,974
7,179
5,296
1,""
7,464
5,587
1,877
8,737
7,610
5,689
1,921
8,656
7,644
5,664
1,980
8,633
7,717
5,676
2,041
8,592
7,693
5,613
2,080
8,549
7,780
5,794
1,986
8,574
8,010
6,081
1,929
8,716
do.
do..
do..
do..
124,281
34,873
47,821
41,587
142, 951
40,194
55, 599
47, 111
11,224
3,269
4,158
3,797
12,556
3,699
4,593
4,264
13,096
11,833
3,480
4,544
13,166
3,696
5,094
4,376
11,535
3,110
4,695
3,730
12,337
3,663
4,831
3,843
do..
do..
do..
do..
115,050
31,393
44,933
38,724
126, 914
34, 729
49, 872
42, 313
10,042
2,774
3,872
3,396
10,812
2,984
4,135
3,693
10,914
2.982
4,177
3,755
10,496
2,896
4,115
3,485
10,957
2,976
4,376
3,605
10, 253 11,025
2,789 3,145
4,138 4,360
4,779
4,379
9,002
7,055
1,947
8,974
29,859 29,623
12, 204 12,409
10,825 10,989
1,379
1,420
29,945 30,469
12,540 12,686
11,074 11, 237
1,466 1,449
7,702
5,825
1,877
9,703
8,036
6,129
1,907
9,747
8,357
6,402
1,955
9,298
7,646
5,735
1,911
9,568
12,806
3,505
5,202
4,052
13, 643 11,923
3,195
4,949
6,171
4,277 3,581
11,214
3,407
4,252
3,555
13, 681 13,661
4,164 4,101
5,169
5,378
4,348 4,182
3,520
10,986
2,993
4,354
3,639
10,636
2,740
4,155
3,741
11,887
3,169
5,077
3,641
10,623
2,943
4,409
3,284
12, 265 12,014
3,371 3,233
5,013 4,888
3,881 3,893
Repaid, total
Automobile paper
Other consumer goods paper
Allother
Seasonally adjusted:
Extended, total
Automobile paper
Other consumer goods paper
All other
...do.
____do_.
do.
do.
11,374
3,162
4,370
3,842
11,687
3,274
4,393
4,020
12,057
3,412
4,577
4,068
11,687
3,298
4,684
3,705
12,484
3,491
4,990
4,003
11,953
3,368
4,772
3,813
12,404
3,504
4,971
3,929
12,846
3,620
5,118
4,108
12, 627 13,304
4,006
3,763
4,876 5,282
3,988 4,016
13,434
3,972
5,245
4,217
13,852
4,001
5,349
4,502
13,465
3,822
5,563
4,080
Repaid, total
Automobile paper
Other consumer goods paper
All other
do..
do..
do.
do..
10,384
2,867
3,986
3,531
10,355
2,819
3,981
3,555
10,671
2,922
4,164
3,585
10,593
2,917
4,249
3,427
10,841
2,896
4,395
3,550
10,667
2,873
4,303
3,491
10,908
3,041
4,354
3,513
11,128
3,023
4,444
3,661
10, 964 11,355
2,977 3,097
4,649
4,341
3,609
3,646
11,437
3,145
4,627
3,665
11,808
3,225
4,755
3,828
12,061
3,218
4,963
24,534
18,598
17, 275 25,589
19,960 23,202
15, 207
18, 591
18, 213
20,581
22,183
18,471
14,738
20,055
16,748
21,165
18, 972
19, 721
21,130
23,631
18,067
20,227
15,987
20,806
25,860
22,306
—750 -2,501 -2,160
3,712 -5,317 - 4 , 4 1 8
2,387 -3,384 -2,369
1-23,033 -23,227
5,935 -2,685
do
2,501
750
2,160
5,317 4,418
3,384
2,685 -2,387
2,369 - 3 , 712
..do.... i 23,033 i 23, 227 -5,935
3,730
5,298
1,519
4,197
3,863
376
2,851
-618 -3,368
934
i1 19,448 i 19, 442 -2,059
do
340
982 -1,703
- 8 8 0 -3,447
4,088
2,466
2,067
981
1,435
3, 794 i 3, 785 -3,876
do
1409,468 437, 329 435,470 438,350 437,329 442,461 446,051 444,580 450,604 455, 285 460,243 461,030 465,792
Gross amount of debt outstanding . . .
do
336,958 341,155 342,674 346,537
Held by the public
. . . d o . . . . i 304,328 323, 770 327,755 327,137 323,770 327,499 328,433 328,809 331,660
Budget receipts by source and outlays by agency:
Receipts (net), total
mil. $.. i188,392 1208, 649 24,534 17, 275 25,589 15, 207 18,213 22,183 14,738 16,748 18, 972 21,130 18, 067
8,613
8,206 12,897
8,067
11,005
7,595
7,355
6,557 11,054
i 86,230 94, 737 11,965
Individual income taxes (net)
do
5,632
559
1,382
672
4,965
965
1,071
733 8,267
126,785 i 32,166
4,895
665
Corporation income taxes (net)
do
Social insurance taxes and contributions
1
2,975
4,969
4,486
7,029
3,759
4,038
7,443
4,122
4,277
6,849
53,
914
i
48,578
5,655
(net)
mil. $ 1
2,606
2,160
2,366
2,298
2,420
2,505
2,542
2,180
2,318 2,175
26,798 i 27, 832
2,020
Other
.
do
-4,820
FEDERAL GOVERNMENT FINANCE
Budget receipts and outlays:
Receipts (net)
Outlays (net)
mil. $.
do..
[
1
188,392
211,425 231, 876
Budget surplus or deficit (—).
Budget financing, total
Borrowing from the public
_
Reduction in cash balances
Outlays, total 9
do
Agriculture Department
"
do. ~ I.
Defense Department, military
do
Health, Education, and Welfare Department
mil. $..
Treasury Department
.do
National Aeronautics and Space Adm
do
Veterans Administration
do
Receipts and expenditures (national income and
product accounts basis), qtrly. totals seas. adj.
at annual rates:
Federal Government receipts, total..
bil. $_.
Personal tax and nontax receipts
do
Corporate profit tax accruals
do
Indirect business tax and nontax accruals. do~~~"
Contributions for social insurance
do
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.I"
Subsidies less current surplus of government
enterprises
bil. $..
i211, 425 1231, 876
» 8,560 10, 943
174,546 i 75,150
18,598
97
6,507
19,960
440
6,871
23. 202
588
8,264
18,591
2,688
5,193
20,581
1,532
5,662
18,471
403
5,204
20,055
1,083
21,165
681
6,250
19, 721
207
5,965
23,631
1,366
6,332
161, 866 i 71, 779
• 20,990 i 22,124
i1 3,381 1 3,422
9,756
10, 710
5,946
1,951
6,189
1,919
270
970
8,211
1,869
292
906
5,456
1,862
289
882
6,013
1,864
289
855
6,271
1,991
273
831
7,044
1,720
271
7,037
2,098
272
1,276
6,972
4,518
284
7,121
4,210
271
1,154
469,587 467,322
349,542 347,383
15,987
3,409
4,867
25,860
11,587
5,657
5,340
2,371
6,359
2,258
20,806
328
6,633
22,306
643
6,207
6,554
7,051
2,148 ' 2,475
301
241
1,043 1,061
7,125
3,760
265
1,111
20,227
770
6,075
199.1
228.6
224.9
229.8
238.4
'252.3
89.6
33.1
20.5
55.9
109.0
36.2
20.1
63.4
107.3
35.!
19.7
62.6
109.1
36.7
20.2
63.8
113.6
38.9
20.6
65.3
J>20.8
J»77.6
241.6
262.7
260.0
106.6
220.8
246.8
246.5
109.6
•44.3
97.8
71.4
105.8
75.9
108.1
78.6
105.4
75.1
104.0
73.2
75.0
29.3
13.6
83.4
37.9
13.6
80.4
82.0
34.4
13.6
91.8
46.5
13.7
*>92.3
5.2
6.1
6.0
6.2
6.7
5.0
.0
.0
.0
-11.8
-24.1
-7.7
.0
Less: Wage accruals less disbursements...do
Surplus or deficit (—)
3,554
4,820 -3,554
3,005 -2,159
1,815 -1,395
-.1
do
-21.7
-18.1
bil. $..
do
do."..
do.
do
222.10
11.00
99.80
75.50
69.90
239.73
11.37
112. 98
76.95
71.27
227.89
11.08
105.25
75.47
69.93
229.34
11.13
106.43
75.49
69.94
230.18
11.10
107. 07
75.55
69.97
231.59
11.08
108. 24
75.63
70.03
6.90
17.06
1.76
10.07
7.30
18.00
1.98
11.15
7.03
17.36
1.50
10.20
7.09
17.44
1.54
10.20
7.15
17.53
1.54
10.24
7.18
17.60
1.57
10.29
-21.6
P41.8
14.2
LIFE INSURANCE
Institute of Life Insurance:
Assets, total, all U.S. life insurance cos
Government securities
Corporate securities
Mortgage loans, total
Nonfarm
Real estate
Policy loans and premium notes..
Cash
Other assets
r
1
do
" ".do
___do
.do
Revised.
v Preliminary.
Data shown in 1971 and 1972 annual columns are for fiscal years ending June 30 of the
respective years; they include revisions not distributed to months.
233.34 234.46 235.97
11.12
11.13
11.09
109. 73 110. 30 111.62
75.95
75.72 75.81
70.20 70.32
70.10
7.24
17.69
1.55
10.33
7.24
17.77
1.59
10.61
7.23
17.85
1.62
10.57
237. 97 239.73
11.37
11.19
113. 07 112. 98
76.95
76.21
70.57
71.27
241.02
11.19
114.53
77.48
71.86
7.30
18.00
1.98
11.15
7.37
18.08
1.60
10.78
7.27
17.92
1.62
10.97
USee similar note on p. S-17.
9 Includes data for items not shown separately.
242. 07 243.08
11.15
11.14
115.39 115. 97
77.59
77.51
71.89
71.95
7.43
18.17
1.57
10.86
7.45
18.29
1.55
11.08
May
SURVEY OF CURKENT BUSINESS
June 1973
Unless otherwise stated in footnotes below, data
through 1970 and descriptive notes are as shown
in the 1971 edition of BUSINESS STATISTICS
1971
1972
1972
Apr.
Annual
S-19
May
June
July
Aug.
1973
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
16,265 20,604
12,048 «14,905
3,691
5,077
Mar.
Apr.
May
FINANCE—Continued
LIFE INSURANCE—Continued
Institute of Life Insurance—Continued
Payments to policyholders and beneficiaries in
TT S total
mil $ 17,177.2
7,423.3
Death benefits
do
990.2
256.8
Annuity payments
do
Life Insurance Agency Management Association:
Insurance written (new paid-for insurance):!
Value, estimated total
mil. $-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:
South Africa
mil $
Canada
do
United States
do
Silver:
Exports
thous. $_.
Imports
_
do
Price at New York
dol. perfineoz.
Production:
Canada.
thous.fineoz1...
Mexico
do
United States
do
Currency in circulation (end of period)..
bil. $_-
1,944.4
2,881.6
3,680.9
189,484
132,803
49,407
7,274
208,497
146,116
55,054
7,327
16,788
12,011
4,127
17,246
12,535
3,857
18,346
12,661
5,070
15,757
11,035
4,064
16, 726
12,145
4,024
16,544
11, 218
4,788
17,531
12,855
4,116
23,526
13,838
9,181
15,285
11,316
3,443
650
854
17,371
12,686
4,118
615
658
557
538
567
560
507
526
526
622
602
10,132
-889
51,249
283,948
10,410
-1,715
63,053
357,689
9,588 10,410
6 -1,227
1,633
880
26, 020 26,573
10,410
0
2,029
25,801
10,410
0
3,436
11,953
10,410
12
16,339
52,656
10,410
-1
4,705
31,502
10,410
0
4,257
29,216
10,410
1
983
44,535
10,410
0
3,322
42,212
10,410
4
2,786
19,745
10,410
4
2,015
32,487
10,410
3
2,405
27,526
10,410
6
2,899
41,127
1,098.7
77.3
1,109.8
77.2
93.2
94.4
94.3
94.4
93.9
94.2
84.3
88.2
88.5
6.2
91.5
86.5
6.8
94.1
7.5
6.4
5.9
6.3
6.3
6.0
6.3
6.2
6.1
6.3
19,499
49,507
1.546
31, 592
59,357
1.685
575
3,541
1.572
2,895
6,355
1.583
1,204
3,414
1.569
16,347
5,955
1.736
9,040
2,963
1.846
744
5,431
1.777
1,515
5,911
1.811
1,640
5,735
1.832
2,331
4,765
1.976
616
8,287
2.017
436
6,993
2.236
1,960
8,664
2.309
41, 030
39,727
4,448
3,032
2,841
3,527
3,244
3,597
2,865
2,420
3,2l2
3,275
3,629
2,953
61.1
66.5
60.5
61.7
62.2
62.4
62.7
62.6
63.6
65.1
66.5
64.3
64.7
65.2
246.2
54.6
191.6
293.4
244.3
53.5
190.8
284.5
7.7
239.5
53.9
185.6
288.6
10.5
243.2
54.4
188.8
291.4
6.9
246.6
55.1
191.6
294.0
7.3
245.5
55.1
190.5
299.5
5.3
248.7
55.2
193.5
302.7
5.9
251.2
55.7
195.5
305.9
6.6
254.3
56.7
197.7
307.7
6.2
262.9
57.8
205.0
311.7
7.3
262.6
56.7
205.9
316.6
8.0
254.0
56.7
197.3
322.5
9.6
254.1 ' 259. 5 v 256.0
57.3
58.7
58.2
196.7
197.3
201.5
331.4
340.9
336.1
8.4
10.1
8.2
243.0
53.9
189.1
284.3
243.8
54.2
189.6
288.6
245.1
54.4
190.7
291.7
247.7
54.6
193. 1
295.0
248.6
54.8
193.8
298.9
250.1
55.3
194.8
301.9
251.6
55.7
195.9
304.8
252.7
56.2
196.5
308.4
255.5
56.8
198.7
312.8
255.4
57.0
198.4
317.0
256.7
57.5
199.3
322.6
256.6
57.9
198.7
330.9
85.7
202.1
59.0
87.3
47.9
85.6
200.8
58.8
89.8
46.9
84.8
199.9
58.7
88.1
47.6
82.4
194.4
57.2
84.2
46.9
87.6
206.9
60.2
90.2
48.8
88.7
214.9
60.1
89.8
48.8
86.7
208.3
59.2
89.2
47.8
93.5
229.2
62.1
93.9
50.0
90.7
215.7
61.8
'95.6
48.9
'96.9
'94.0
'97.8
224.0
238.0
228.3
' 6 4 . 3 ••65.9 ' 6 7 . 6
'98.5 ' 102. 6 ' 104.0
'51.2
'51.9
53.8
Money supply and related data (avg. of dailyfig.):©
Unadjusted for seasonal variation:
231.2
Total money supply
bil. $
51.1
Currency outside banks..
.
do
180.1
Demand deposits
do
254.0
Time deposits adjustedi-.
_
do
6.5
U.S. Government demand depositsiT
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. Go vt., annual rates, seas, adjusted:t
Total (233 SMSA's) O ratio of debits to deposits
New YorkSMSA
_.do „
Total 232 SMSA's (except N.Y.)
do
6 other leading SMSA'sd"
do _
226other SMSA's
_..do
PROFITS AND DIVIDENDS (QTRLY.)
Manufacturing corps. (Fed. Trade and SEC):
Net profit after taxes, all industries
mil. $.. 31,038
Food and kindred products
do
2 754
Textile mill products
do.".
558
Lumber and wood products (except furniture)
mil. $..
603
Paper and allied products
.
do
501
3,780
Chemicals and allied products.._
.do
Petroleum refining
do
5,829
853
Stone,
and glass
products
do _
Primaryclay,
nonferrous
metal
do
621
Primary iron and steel
. do
748
Fabricated metal products (except ordnance,
machinery, and transport, equip )
mil $
1 070
Machinery (except electrical)
do
2,489
Elec. machinery, equip., and supplies
do
2,563
Transportation equipment (except motor
vehicles, etc.)
mil. $
585
Motor vehicles and equipment
do
3,097
4,990
All other manufacturing industries
do
Dividends paid (cash), all industries
do
15,252
Electric utilities, profits after taxes (Federal Reserve)
mil $
SECURITIES ISSUED
Securities and Exchange Commission:
Estimated gross proceeds, total...
___mll.$._ 106,430
3y type of security:
Bonds and notes, total
do
92,2*9
Corporate
do
31,883
Common stock
do
10,459
3,683
Preferred stock
_
do
7.3
36,482
3 114
659
9,633
803
161
8,782
797
163
10,133
834
196
947
941
4,422
266
271
1,097
291
223
1,128
220
279
1,135
5,159
1,060
687
1,048
1,095
328
214
324
1,298
355
145
215
1,479
252
168
336
1 529
426
428
363
3,340
2,999
921
890
816
763
716
208
351
1,574
3,573
956
190
1,135
1,774
4,555
836
3 697
6,045
16,133
96,481
275
1 201
1,488
4,106
8,636
9,547
7,588
8,399
5,802
83,420
7,771
2,450
28,896
2,555
2,411
1,017
9,694
1,174
601
263
131
612
3,367
'Revised, v Preliminary.
i Beginning Jan. 1972 valued $38 per fine ounce.
§Or increase in earmarked gold (—) .0EfTective February 1973 SURVEY, data revised to reflect:
Annual review of seasonal factors; regular benchmark adjustment; effect of changes in check
collection procedures (Regulation J); and adjustments to include new figures from internationally oriented banking institutions. Monthly revisions back to 1959 are in the Feb. 1973
Federal Reserve Bulletin.
6,921
7,136
5,635
9,505
10,987
8,210 ' 6,523 '7,325
18, 793
13,733
4,458
856
6,838
2.207
2.401
66.1
' 258. 2 p 260.6
59.0
' 58.7
' 199. 5 201.6
341.8
336.7
95.9
228.9
66.4
102.3
52.7
9,001
7,185
7,440 r 5,472 '6,320
5,803
2,119
'957
2,625 ' 1,276
2,465
'832
983
913
498
913
206
206
305
421
154
272
137
833
' 172
UAt all commercial banks. tSeries revised to reflect recalculation of seasonal factors; revisions
back to 1964 are shown in the July 1972 Federal Reserve Bulletin, p. 634. ©Total 8Mb A s
include some cities and counties not designated as SMSA's. cf Includes Boston, c Philadelphia,
Chicago, Detroit, San Francisco-Oakland, and Los Angeles-Long Beach.
Corrected.
6,187
1,945
743
4,566
1,651
765
8,051
2,336
1,033
9,953
2,343
880
SURVEY OF CURRENT BUSINESS
S-20
Unless otherwise stated in footnotes below, data
through 1970 and descriptive notes are as shown
in the 1971 edition of BUSINESS STATISTICS
1971
|
1973
1972
1972
Apr.
Annual
June 1973
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
FINANCE—Continued
SECURITIES ISSUED—Continued
Securities and Exchange Commission—Continued
Estimated gross proceeds—Continued
By type of issuer:
Corporate, total 9
mil. $Manufacturing
do
Extractive (mining)
do...
Public utility
do.__
Transportation §
do...
Communication
do._Financial and real estate
do...
Noncorporate, total 9
U.S. Government
State and municipal
State and municipal issues (Bond Buyer):
Long-term
Short-term
46,025
11,645
1,261
11,752
41,957
6,629
2,010
11,357
3,275
581
62
1,219
3,598
761
106
738
4,341
767
168
1,538
3,583
574
163
2,893
452
255
635
2,720
603
93
1,247
3,791
383
278
1,280
3,377
426
338
794
176
861
•2,327
••176
90
••900
' 1,962
'213
'68
596
3,935
498
91
931
2,411
5,818
8,662
3,048
4,817
10,580
131
178
752
213
391
1,021
185
800
529
160
586
1,148
96
237
823
61
33
232
165
371
1,074
658
730
238
50
1,165
••121
'33
'903
'100
'174
'749
101
1,022
1,206
do.. .
do...
do
60,406
17,325
24,370
54, 523
17,080
23,028
5,360
2,281
1,963
5,949
2,360
1,924
3,248
536
2,222
3,338
496
1,784
4,243
606
1,898
2,915
474
1,701
5,714
2,530
1,970
7,610
3,590
1,817
4,814
2,553
1,760
' 4,196
1,199
1,889
• 5,363
1,603
1,445
5,066
606
2,274
do
do
24,370
26,281
22, 941
25, 222
1,963
1,616
1,924
2,726
2,222
2,705
1,784
1,215
1,898
1,810
1,701
2,475
1,970
1,587
1,814
2,764
1,801
1,640
1
1, 887
1,622
1,445
1,130
'2,304
1,638
19,045
i 8,180
1865
i 1, 528
8,250
7,283
967
1,278
8,472
7,478
994
1,296
8,747
7,792
955
1,274
8,924
7,945
979
1,285
9,092
8,060
1,032
1,298
9,091
8,083
1,008
1,255
9,024
8,081
943
1,351
9,068
8,166
902
1,396
9,045
8,180
865
1,528
8,840
7,975
865
1,484
8,620
7,753
'867
1,508
8,344
7,465
879
1,566
1414
11,957
433
2,030
403
1,930
386
1,845
403
1,842
384
1,733
1,677
1,708
1,828
414
1,957
413
1,883
431
1,770
442
1,719
65.0
80.0
65.9
84.4
65.2
84.6
65.6
83.4
65.6
83.1
65.8
84.2
65.6
83.4
65.5
85.2
66.0
86.9
65.5
86.1
68.71
68.59
69.05
69.23
>9.55
68.06
68.09
65.9
87.1
.9.87
66.0
87.1
67.73
65.1
82.5
67.66
65.89
8,803.91 9,515.67 837.59 775.98 799.32
10,167.90 10,077.35 859. 85 807. 23 840.74
632.67
679.82
• 1,688
'2,062
1,795
2,485
65.2
84.1
64.9
85.7
64.7
86.1
64.09
63.59
64.39
63.43
841.65
964.63
734.02
790.10
783.47
869.21
781.70
923.56
SECURITY MARKETS
Stock Market Customer Financing*
Margin credit at brokers and banks, end of month, 1
6,535
total
mil. $_.
i 5,700
At brokers
do
1835
At banks
do
i 1,298
Other security credit at banks
do
Free credit balances at brokers:
1387
Margin accounts
do
U,837
Cash accounts
do
Bonds
Prices:
Standard <fe Poor's Corporation:
High grade corporate:
Composited"1-dol. per $100 bond..
Domestic municipal (15 bonds)
do
U.S. Treasury bonds, taxable^
..do
Sales:
Total,excl. U.S. Government bonds (SEC):
All registered exchanges:
Market value
mil. $..
Face value
do
New York Stock Exchange:
Market value
_._do
Face value
___do
New York Stock Exchange, exclusive of some
stopped sales, face value, total
mil. $..
Yields:
Domestic corporate (Moody's)
percent._
By rating:
Aaa
do
Aa
do
A
do....
Baa
do
By group:
Industrials
_
_ do _.
Public utilities
do....
Railroads
do
Domestic municipal:
Bond Buyer (20 bonds)
do
Standard & Poor's Corp. (15 bonds)
do
U.S. Treasury bonds, taxable©
do
Stocks
8,009.57 8, 717. 24
9,080.68 9,168.52
763.19 717.15
778. 24 741.02
6,563.82 5,444.12
515.14
7.94
7.63
7.71
740.74
776.82
723.49 525.26
775. 83 580.92
415.73
7.66
7.61
7.66
886.17
928.53
740. 76
790.08
786.18
837.91
692.06
738.43
740.12
828.62
747.12
810. 76
19.72 370. 69 463.55
417.92
448. 44
362. 93
392. 08
351. 32
7.47
7.49
7.57
7.62
7.62
7.62
581. 21 669.41 481. 76 629.34
625.30 712. 97 527.60 692.12
458. 20 443. 07 362.67
7.71
676. 38 935. 61 807.45
747. 69 989. 33 866.54
7.59
7.59
7.62
379.95
7.39
7.78
8.03
8.56
7.21
7.48
7.66
8.15
7.30
7.57
7.74
8.24
7.30
7.56
7.75
8.23
7.23
7.51
7.69
8.20
7.21
7.50
7.71
8.23
7.19
7.43
7.64
8.19
7.22
7.41
7.64
7.21
7.45
7.64
8.06
7.12
7.39
7.58
7.99
7.08
7.36
7.60
7.93
7.15
7.37
7.53
7.90
7.22
7.47
7.60
7.97
7.29
7.49
7.66
8.03
7.26
7.49
7.64
7.29
7.49
7.64
8.06
7.57
8.13
8.38
7.35
7.74
7.98
7.42
7.87
8.04
7.43
7.88
8.01
7.36
7.83
7.98
7.39
7.80
8.00
7.35
7.69
7.99
7.36
7.63
7.97
7.36
7.63
7.97
7.28
7.65
7.95
7.22
7.48
7.91
7.27
7.51
7.87
7.34
7.61
7.92
7.43
7.64
7.94
7.43
7.64
7.98
7.41
7.63
8.01
6.46
5.70
5.25
5.27
5.20
5.45
5.15
6.26
5.43
5.37
5.32
6.39
5.38
5.29
6.30
6.36
5.04
5.20
4.99
5.03
6.11
5.03
5.16
5.05
5.22
5.12
5.26
5.30
5.10
5.16
5.22
5.12
5.74
5.63
5.74
6.64
5.59
5.57
5.70
6.69
5.50
5.63
5.94
6.14
6.20
6.11
6.22
8.81
9.50
4.77
3.78
7.28
10.62
8.92
9.61
4.87
3.73
7.32
10.99
8.80
9.49
4.86
3.58
7.31
10.99
8.88
9.58
4.86
3.81
7.31
11.02
8.87
9.58
4.86
3.78
7.31
11.02
8.87
9.59
4.86
3.78
7.31
11.02
8.97
9.60
4.88
3.78
7.31
11.02
8.97
9.60
4.89
3.78
7.31
11.02
9.62
4.89
3.79
7.31
11.02
9.21
9.97
4.90
3.83
7.31
11.02
9.22
9.97
4.92
3.92
7.39
11.10
9.29
10.06
4.95
3.95
7.39
11.38
9.32
10.09
4.98
3.96
7.39
11.53
9.34
10.10
4.99
3.96
7.54
11.53
10.17
4.99
4.00
7.54
11.53
9.39
10.18
4.99
4.00
7.54
11.64
.do ..
do
do.. I.
Ido._I"
261.43
318.75
84.16
85.12
290.65
362.44
80.20
91.00
286. 59 289. 90 283.32
356. 26 361. 77 354.96
77.94 77.13
75.27
94.88 92.69 87.87
285.55
357.81
75.11
86.96
295.79
369.60
78.25
90.16
294.25 295. 56 309.50
366. 24 365.83 383.21
78.48 83.36
85.86 83.85
313. 81
389. 48
83.61
91.26
311. 61
388. 63
79.43
86.38
373.23
77.54
81.39
298.30
374.61
75.20
84.58
286. 63
358. 35
74.73
77.95
281.78
352.21
74.69
71.60
Yields, composite
percent..
Industrials
. d o
Public utilities
6o..'.'.
Railroads
_
do
N.Y. banks
do
Property and casualty insurance cos
do
3.37
2.98
5.67
4.44
4.14
3.25
3.07
2.65
6.07
4.10
3.35
2.92
3.11
2.68
6.47
4.35
3.28
3.13
3.03
2.60
6.24
4.19
3.08
2.90
2.94
2.56
5.88
4.30
3.06
2.67
2.98
2.59
6.23
4.57
3.07
3.09
3.12
2.70
6.42
4.87
3.26
3.30
3.13
2.70
6.64
4.68
3.30
3.20
3.27
2.84
6.68
5.13
3.49
3.56
3.33
2.89
6.68
5.59
3.46
3.71
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
Property and casualty insurance cos
Price per share, end of mo., composite
Industrials
_
Public utilities
Railroads
I d o " 11
do
Earnings per share (indust., qtrly. at ann. rate;
pub. util. and RR., for 12mo. ending each qtr.):
Industrials
dollars
Public utilities
„
do
Railroads
___do
3.07
2.66
6.24
3.77
3.43
2.90
3.06
2.65
6.30
4.11
3.49
2.82
3.13
2.70
6.46
4.30
3.53
3.00
20.81
17.55
20.28
7.53
'7.14
7.73
4.71
3.93
6.71
' Revised.
v Preliminary.
i End of year.
*New series; more detailed information
appears in the February 1972 Federal Reserve Bulletin.
Digitized9for
FRASER
Includes
data not shown separately.
§ Beginning April 1971 SURVEY, data restated to include "other transportation" in addition to railroad data formerly shown.
http://fraser.stlouisfed.org/
Federal Reserve Bank of St. Louis
3.05
2.62
6.23
4.40
3.02
2.94
3.04
2.63
5.87
4.52
3.05
2.70
2.98
2.60
5.64
4.10
3.17
2.52
24.42
17.44
' 23.70
7.73
^7.82
7.72
6.71
5.28
cf Number of bonds represented fluctuates; the change in the number does not affect the
continuity of the series.
^Prices are derived from average yields on basis of an assumed 3 percent 20-year bond.
G For bonds due or callable in 10 years or more.
SURVEY OF CURRENT BUSINESS
June 1973
Unless otherwise stated in footnotes below, data
through 1970 and descriptive notes are as shown
in the 1971 edition of BUSINESS STATISTICS
1971
| 1972
Annual
S-21
1972
Apr.
May
June
July
Aug.
1973
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_.
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..
6.75
6.89
6.91
6.90
6.93
6.99
6.90
7.00
298.12
884.76
117.22
217.20
319.36
950.71
112.83
241.44
329.83
958.16
110. 56
270.08
322.26
948. 22
108. 80
257.34
315. 09
943.43
106.27
243. 84
306.91
925.92
107.09
229.95
315. 22
958. 34
109.07
233.53
310.15
950. 58
109.76
222. 86
6.91
7.03
7.11
321.92 322.19 332.15 325.94 308.40
944.10 1,001.19 1,020.32 1,026.82 974.04
113.06 121.33 121.47 118.06 113.08
215. 88 227.89 232.74 216.58 202.04
300.94
957.35
109.52
194.60
297.65
944.10
108.02
194.22
286.34
922.41
107. 38
175.53
6.93
7.03
6.92
6.87
7.13
98.29
109.20
108.81
107. 65
108. 01
107.21
111. 01
109.39
109. 56
116.05
117.50
118.42
114.16
112.42
110.27
107. 22
do
do
do
do....
do....
108.35
102.80
99.78
59.33
41.94
121.79
119.39
113.90
56.89
44.11
121.34
120.19
115.05
55.70
47.38
120.16
119. 65
112. 67
54.94
45.06
120.84
120.92
113.43
53.73
43.66
119.98
119.13
112. 57
53.47
42.00
124. 35
124.47
116.17
54.66
43.28
122.33
121.63
113.19
55.36
42.37
122. 39
119. 50
112. 94
56.66
41.20
128.29
122.11
119.51
61.16
42.41
131.08
124.57
122. 26
61.73
44.62
132.55
127.04
122.57
60.01
42.87
127.87
125.56
117.54
57.52
40.61
126.05
124.53
116.41
65.94
39.29
123.56
120.38
111.24
55.34
35.88
119. 95
116. 48
107. 44
55.43
36.14
Banks:
New York City (9 stocks)
do....
Outside New York City (16 stocks)..._do....
46.31
87.06
67.37
105.81
55.76
103.47
55.57
101.57
55.27
103.63
57.35
106.94
61.28
112. 21
62.11
116.62
63.99
118. 20
63.45
117.74
62.48
114. 24
65.03
113.88
59.30
103.73
61.21
105-59
59.50
100.49
59.79
97.72
Property-liability insurance (16 stocks)...do.._.
115.04
132.58
133.66
139.43
132.63
127.13
131. 71
129.86
133.04
149.68
144.16
134.69
124.23
124.67
119.77
109. 50
New York Stock Exchange common stock indexes:
Composite.
_
12/31/65=50Industrial
_
do
Transportation.
do
Utility.
do....
Finance
do
54.22
57.92
44.35
39.44
70.38
60.29
65.73
50.17
38.48
78.35
60.65
66.10
55.50
37.48
80.36
59.82
65.30
53.43
37.04
78.32
59.87
65.76
51.26
36.32
76.59
59.21
65.13
48.45
36.02
75.41
61.07
67.25
48.97
36.87
78.27
60.05
65.72
46.49
37.82
78.41
59.99
65.35
44.95
38.93
79.64
62.99
68.29
47.50
41.81
84.57
64.26
69.96
48.44
42.28
83.45
64.38
70.55
45.14
41.72
81.62
61.52
67.67
42.34
39.95
74.47
60.15
66.20
40.92
39.13
72.32
58.67
64.41
40.57
38.97
69.42
56.74
62.22
204,032
6,299
18,448
584
17,093
507
16, 744
506
13,915
427
17,596
525
12,183
367
14, 821
461
18,540
556
17,863
549
18,926
563
15,062
446
16,486
519
12,879
408
159,700
4,496
14,122
413
13,124
357
12, 989
360
10,831
307
13,828
378
9,669
264
11,930
346
15,047
414
14,473
398
15,407
414
12, 323
330
13,449
382
10,591
301
4,138
368
336
315
289
357
246
317
406
345
394
318
342
278
337
871.54
19,159
791. 04
17,916
810.43
18,113
793.22
18,432
791.10
18,607
821.15
1H.773
816. 22
18,875
824. 96
19,002
863.52
19,063
871. 54
19,159
854.13
19,323
816.96
19,403
809. 76
19, 525
775. 81
19,686
758.59
20,066
Industrial, total (425 stocks) 9
Capital goods (116 stocks)
Consumers' goods (184 stocks)
Public utility (55 stocks)
Railroad (20 stocks)
Sales:
Total on all registered exchanges (SEC):
Market value..
mil. $.. 185,027
5,916
Shares sold
millions.
On New York Stock Exchange:
Market value
mil. $_. 147,098
4,265
Shares sold (cleared or settled)
millions.
New York Stock Exchange:
Exclusive of odd-lot and stopped stock sales
3,891
(sales effected)
millions.
Shares listed, N . Y . Stock Exchange, end of period:
Market value, all listed shares
bil. $.
Number of shares listed
millions.
741.83
17,500
39.01
65.33
FOREIGN TRADE OF THE UNITED STATES
FOREIGN TRADE
Value of Exports
Exports (mdse.), inch reexports, total
Excl. Dept. of Defense shipments . .
Seasonally adjusted
By geographic regions:
Africa
Asia .
Australia and Oceania
Europe
Northern North America
Southern North Amrrica
South America
By leading countries:
Africa:
Egypt
Republic of South Africa
.mil. $ . . 44,129. 9 49,767. 7 3,935.1 4,193.3 4,050.8 3,723.3 3,982.6 4,007.3 4, 510. 2 4,613.4 4,725.3 4, 789.1 4,900.6 5, 975.7 5,595. 8 6, 064. 0
. . . d o . . . . 43, 548.6 49,208.1 3,885.1 4,140.5 4,014.9 3,657.2 3,937.0 3,964.1 4,442. 7 4, 582. 7 4,693.2 4, 747.2 4, 864. 0 5, 922.8 5, 560. 5 6,023.0
3,817.1 3,885.2 3,971.1 4,052.3 4,199.5 4,177.1 4,317.9 4,472.8 4,560.5 4, 977.1 5,064.6 5, 379.5 5,487.0 5, 602. 8
do
do
do
do
do
1,694.3
9,855.3
1,168. 4
14,562.3
do
10,367.4 12,419.0 1,071.0 1,120.1 1,114.6
3,154. 5 3 564 2 275 0 290 5
283 6
3,327.7 3,711.4
267.3
309 1 328 7
do
1 572 0 113.2
11,275.7
876.0
1,034.9
85.7
16,098 4 1,248 5 1
114 6
900 4
72 4
388 4 1
138 9
931 7
70 7
182 8 1
109 9
878 5
84.9
187 4 1
111.5
134.1
146 6
855.2 1,016.8 1
893. 3
104.3
83.9
93.9
246.5 1, 282. 7 1 407.2 1
150 9 142 3 154.8
072 5 1 130.6 1, 161.1 1
128.5
93.9
82.8
535 8 1 629 6 649.5 1
167.4
149 1
188.4
216.8 1 536.9 1,417. 7
109.3
107.2
96.0
705 5 9, 132.3 1,827.4
875.5 1,008. 9 1,062.9 1,158. 3 1,138. 6 1,060.0 1 080.3 1,090.4 1 283.3 1, 314.1
279 4
298.1
304.0
349 6 326 6
327 0
308.9
324 2
383.8
363.1
356.8
303.9
352.2
337.7
307.5
310.8
S06. 3 308.1
296.1
353.0
48.6
70.1
50.9
53.9
2.9
7.4
61.3
12.5
55.1
29.9
52.5
12.7
57.6
90.3
20.8
15.1
16.9
69.2
20.9
76.1
25.3
67.5
27.6
14.2
86.7
23.8
15.7
8.1
89.2
28.7
21.0
11.7
80.3
39.4
10.3
11.2
90.5
35.1
16.6
21.0
75.3
21.0
16.0
18.7
11.3
27.8
405 3
21.5
32.8
378 5
21.1
29.5
463 7
24.0
29.4
488 5
46.3
25.3
547.8
34.1
29.1
565 3
21.8
32.4
771.7
27.2
41.4
657.5
180.2
240.6
191.4
62.9
622.3
76.1
697.1
36.4
46.4
5.0
40.7
37.5
12.1
64.0
do
do
do
do
1,018.3
648.1
211.4
71.5
857.0
350.0
183.0
128.0
72.0
18.3
25.4
11.4
59.5
21.7
13.3
58.4
49.2
17.1
70.0
28 2
14.3
58
do
do
do
263.0
307.6
340.2
365.6
4 054 8 4 941 2
35 0
28.4
372 8
26.9
30.6
375.0
22 3
34 4
376 5
do
do
do
1,373.2
25.4
2,831.1
1,609.6
14.9
2,811.2
.3
.5
.5
.2
.2
.3
3.0
.3
2.4
8
2.0
237.3
219.6
219.9
.6
234.7
199.0
206.9
247.3
262.9
272.0
246.5
259.1
314.0
306.9
Italy
1,313.9
do
Union of Soviet Socialist Republics.. . . d o . . . .
160.9
United Kingdom
2,369.2
1,425.2
546.7
2,658.2
110.7
30.2
201.8
163.6
29.1
197.5
115.3
21.0
200.2
103.2
19.3
192.8
93.3
75.1
184.9
105.2
67.8
236.2
100.9
64.0
215.2
129.4
56.1
275.3
138.9
101.4
241.0
129.6
98.3
249.7
143.3
99.8
238.0
183.5
111.6
310.4
188.7
103.1
248.9
Asia; Australia and Oceania:
Australia, including New Guinea
India .
Pakistan
.
Malaysia
Indonesia
Philippines
Japan
Europe:
France
East Germany
West Germany
do
..do....
8.6
123.5
.4
3.5
9.2
129.4
7.7
7.0
29.8
31.0
387 7
117.0
North and South America:
Canada
do
10,365.4 12,415.4 1,070. 9 1,119.9 1,114.6
r Revised.
d* Number of stocks represents number currently used; the change in number does not
113.5
108.8
4.4
8.2
117.6
3.0
150.6
8.8
8.9
8.5
151.2
9.1
44.0
32.0
511 6
160.9
187.4
8.6
873.8 1, 008. 2 1,062. 8 1,157. 9 1,138.5 1,060. 0 1, 080.1 1,090.1 1, 283.2 1,313. 5
affect continuity of the series.
9 Includes data not shown separately.
SURVEY OF CURRENT
S-22
Unless otherwise stated in footnotes below, data
through 1970 and descriptive notes are as shown
in the 1971 edition of BUSINESS STATISTICS
1971
1972
I 1972
Apr.
Annual
June
May
June
July
Aug.
1973
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
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
T atin American Republics total 9
mil. $ 5,666. 5 «, 471.2
390.9
400.1
-do—
Argentina
..do—.
966.3 1,242.9
Brazil
do....
223.7
187.0
Chile
377.5
317.3
Colombia
-- -- ..do.—
1,620.
0
1,982.2
do
I^Iexico
923.7
787.1
do
Venezuela
Fxrjorts of U S merchandise total
Excluding militarv grant-aid
Agricultural products, total
Nonatrricultural Droducts total
43, 491. 8
do
_.do— 42, 910. 5
__do—_ 7, 698. 0
do
35,793.7
By commodity groups and principal commodities:
Food and live animals 9
mil. $
Meats and preparations (incl. poultry).-do
Grains and cereal DreDarations
do
534.3
34.5
102.7
25.6
24.5
159.7
72.3
526.0
38.8
112.4
14.8
22.9
153.9
73.0
541.2
34.9
106.9
15.0
23.3
171.4
73.0
550.4
43.1
100.4
12.1
23.9
171.2
78.1
617.9
45.1
118.5
15.5
26.9
207.6
73.1
26.4
184.4
76.2
604.9
27.1
119.7
14.4
32.9
188.9
96.6
547.4
28.0
113.7
14.0
23.6
180.2
74.4
554.4
20.8
101.4
14.1
30.3
180.6
92.5
648.7
27.3
123.0
15.4
34.9
215.6
81.0
644.4
34.9
118.4
15.6
32.1
214.8
94.9
48, 968.3 3,860.0 4,127.3 3,978.0 3,664.8 3,912.3 3,937.2 4,448.9 4,527.1
48,408.7 3,809.9 4,074.6 3,942.0 3,598.7 3,866.7 3,894.0 4,381.4 4,496.5
9,409.6
628.2
711.9
743.3 681.8
684.0
709.9
908.0 1, 079. 9
39,466.6 3,233.3 3,415.3 3,234.8 2,986.1 3,236.0 3,228.1 3,540.9 3,447.2
4,651.7
4,619.6
1,110.8
3,540.9
4, 719.5
4,677. 7
1,136.1
3, 583. 5
4,831.1
4,794. 5
1,179.4
3.651.7
5,878.7
5,825.8
1,407.7
4,471.0
5,491.8
5,456. 4
1,264.1
i, 227.7
659.3
23.1
441.4
688.6
21.7
476.7
669.4
26.2
455.5
802.3
48.4
531.1
767.9
45.6
510.0
4,366. 6 5,665.3
252.0
192.0
2,449.1 3,505.0
478.3
23.1
90.5
12.8
23.2
153.7
70.3
361.7
18.8
214.4
449.0
27.6
265.2
552.4
24.9
108.0
15.4
29.9
158.9
94.4
548.7
26.8
104.2
9.6
908.3
34.3
59.0
474.2
23.7
295.8
54.1
66.2
76.3
85.8
615.5
23.9
384.8
94.8
90.5
62.9
74.5
78.4
74.8
Crude materials, inedible, exc. fuels 9 -- do . . 4,328.6 5,029.2
502.8
do
Cotton raw excl linters and waste
583.2
1,324. 8 1,507.7
do
Soybeans exc canned or prepared
486.7
507.9
Metal ores, concentrates, and scrap.. . . d o — .
399.2
45.8
125.9
30.8
387.5
27.7
109.7
41.9
371.6
24.6
106.1
42.2
361.9
17.7
91.5
45.6
353.2
10.1
84.5
49.3
311.4
13.8
53.0
43.1
449.7
30.4
186.2
51.2
565.5
55.9
214.8
44.2
565.9
85.7
185.5
61.6
586.4
103 2
185 9
55.8
663.1
82.0
254.6
69.3
840.7
104.7
304.4
90.8
718.0
92.5
248.1
67.5
. . d o - 1,497.4 1,553.8
Mineral fuels, lubricants, etc. 9
950.7 1,019.1
do
Coal and related products
do____
478.9
445.0
Petroleum and products
615.2
507.2
Animal and vegetable oils, fats, waxes
do
3,836.0 4,133.7
Chemicals
do
. . d o - . 4,413. 4 4,904.0
Manufactured goods 9
632.1
778.8
..doTextiles
791.6
825.9
do
Iron and steel
595.6
566.8
..do
.
Nonferrous base metals
131.6
88.8
35.1
35.8
293.9
387.6
61.2
61.4
51.0
135.6
96.4
35.5
42.0
343.6
413.8
64.0
69.3
47.5
122.9
84.9
35.9
62.1
335.6
404.4
63.5
70.8
44.3
102.9
62.5
36.1
44.5
332.8
374.1
54.6
64.2
37.9
157.2
113.9
38.2
37.1
349.1
421.8
66.2
73.8
38.6
130.3
89.1
35.6
36.3
336.3
405.8
64.9
75.0
44.6
137.1
91.1
37.2
35.2
392.9
445.7
74.2
70.9
51.5
146.9
95.3
41.8
47.7
332.0
426.3
72.0
66.2
47.1
128.9
67.5
41.4
36.3
385.7
440.5
75.5
71.2
51.2
105.3
62.0
36.2
44.0
403.8
478.2
78.3
85.5
57.8
106.7
55.5
36.3
44.8
384.7
457.6
71.6
75.2
64.1
121.2
71.4
38.2
61.0
441.8
534.0
85.9
98.0
59.7
142.0
95.1
40.2
38.0
443.6
564.9
91.8
98.6
69.0
Beverages and tobacco
..do—.
709.2
equipment , total
mil. $.. 19,459. 8 21,422.2
11,560.9 13,244.4
..do Machinery, total 9
596.7
749.6
do
Agricultural
404.5
410.0
Metalworking
do
1,404. 2 1,601.1
Construction, excav. and mining
do
. . d o — 3,066. 7 3,699.2
Electrical .
7,899. 0 8,269.7
Transport equipment, total .
.-do 4,157.1 4,796.4
Motor vehicles and parts
do
do
2, 734.1 3,190.0
Miscellaneous manufactured articles
1, 531. 4 1,562.6
Commodities not classified
do
Value of Imports
45,562.7 55,555.2
General Imports, total
-do
Seasonally adjusted
do
By geographic regions:
1, 236.3 1,595.2
Africa
_ . doAsia
11,779.5 15,111.5
do
894.9 1,145.4
Australia and Oceania
do
Europe
__ _
12,881.1 15,740.3
do
12,695.4 14,915.3
Northern North America. _
. . do
Southern North America
. . d o - 3,000.5 3,536.3
South America
do
3,033. 7 3,460.0
By leading countries:
Africa:
19.1
Egypt
16.9
do
286.5
324.7
Republic of South Africa
do
Asia; Australia and Oceania:
819.9
Australia, including New Guinea
636.1
do
329.1
India
426.6
do
Pakistan
77.1
40.2
do
Malaysia
269.0
301.2
do
207.2
Indonesia
do
277.8
495.6
Philippines
483.5
do
Japan
7,258.8 9,064.3
do
Europe:
France
1 087 7 1,368 6
do
East Germany
do
10.1
10 3
West Germany
3,650. 5 4,248.7
do
Ho
Italy
1,405. 7 1,755.8
Union of Soviet Socialist Republics
do
57.2
95.4
United Kingdom
do
2,498. 5 2,985.9
North and South America:
Canada.
do
12,691.5 14,908.9
Latin American Republics, total 9 . . . . . d o - 4, 881. 0 5,772.1
Argentina
.
do
175.8
201.4
Brazil
761 7
do
941 6
Chile .
do
82 9
90 9
Colombia
239.2
. d o 284.1
1,261.6
do
1,631.6
Mexico
do
Venezuela
1 215 9 1 297 5
By commodity groups and principal commodities:
Agricultural products,total
mil $
5 765 5 6 504 9
Nonagricultural products, total
-do— 39,797.3 49,050.4
r
Revised.
9 Includes data not shown separately.
Machinery and transport
436.5
19.5
272.8
59.7
472.3
18.7
318.4
517.3
19.6
333.6
550.8
29.9
337.4
1,779.6 1,894.8 1,756.5 1,572.4 1,673.9 1,739.7 1,887.4 1, 904. 7 1,937.2 1, 956.4 2,026. 9 2,527.8 2,250.0
1, 086. 3 1,119.3 1,101.3 1,031.3 1, 063. 2 1, 054. 6 1,132.6 1,185. 2 1,199. 0 1, 222. 6 1, 223.0 1,444.5 1,360.9
64.2
71.9
69.6
63.1
58.8
56.7
62.8
59.3
61.8
105.0
92.6
64.3
78 3
38.6
31.2
31.7
30.4
32.4
35.6
30.6
44.4
32.5
37.2
33.8
31.4
42.1
142.7
139.5
139.8
137.4
130.2
119.3
124.1
130.4
180.7
176.3
148.1
151.0
135.0
291.3
305.6
303.3
283.6
296.4
309.6
334.8
341.3
337.5
409.7
389.6
369.7
352.4
889.1
541.4
719.6
738.2
714.7
775.3
655.0
610.8
675.1
754.8
733.8
803.9 1,083.4
415.5
438.7
398.9
283.4
357.4
433.2
474.2
448.5
426.7
551.0
527.8
455.8
477.5
265.4
276.3
325.7
264.3
263.3
271A
261.0
264.7
283.1
265.0
275.1
324.3
270 8
118.9
168.4
131.4
137.9
145.7
144.9
116.8
120.5
128.7
131.0
131.0
118.9
132 6
4,248.0 4,722.0 4,768.1 4,313.7 4,727.4 4,484. 8 5,007.1 5,189.8 i, 795. 0 5, 423. 0 4,944.6 5,595.6 5,347.3 6,032.0
4,413.0 4,482.2 4,467.7 4,565.2 4,726.0 4,605.5 4,736.2 5,136.4 5,001.6 5, 280.9 5,540.8 5,432.1 5,290.7 6, 760. 7
111.3
126.8
137.8
165.5
155.4
182.5
216.4
184.2
124.5
141.4
164.7
139.1
134.6
1,108.0 1,251.3 1,240. 3 1,174.8 1,488. 6 1,339. 8 1, 398. 7 1,404.1 1, 247. 6 1 364.3 1, 245.0 1,413.3 1,352.4
95.3
94.9
96.6
87.2
127.8
128.0
123.4
101.0
83.4
90.1
90.1
108.5
101.2
1,159.7 1,330.8 1,345. 9 1,314.4 1,341.6 1,122. 0 1,355.3 1,491.7 1,366.4 1 555.3 1,405. 2 1,587.9 1,529. 7
1,
206.1
1,234.3 1,339.5 1,373.3 1,063.5 1,027. 3
1,372.9 1,456.8 1,302.4 1, 477.9 1,337.8 1,546.9 1,443.4
310.6
315.1
287.6
258.3
308.7
248.7
287.7
305.5
310.9
277.7
411.6
428.3
368.4
223.4
246.0
292.3
277.1
292.0
312.5
299.6
283.9
314.3
393.4
301.8
324.3
297.4
.4
2.5
1.2
1.9
1.3
2.6
22.1
36.4
26.4
26.7
33.9
1.6
1.2
33.3
1.6
.5
21.1
26.5
23.1
25.2
37.2
30.1
32.3
72.7
30.4
62.1
42.5
68.4
42.8
91.3
30.2
89.1
27.3
72.3
35.2
62.3
29.0
61.9
38.4
70.7
29.7
3.3
79 9
34.0
23
24.9
24 2
41.5
863.9
61 9
29.1
4.0
57.6
38.2
19
24.1
18.2
33.8
680.1
92.0
37.3
3.5
2.6
3.3
3.6
21.8
26 1
56.0
724.6
3.3
127 1
10
380.9
156.2
11.1
319.0
357.5
147.9
12.8
264.7
1.8
20.6
23.2
28.9
691.7
98 2
.9
317.7
139.0
1.9
214.2
30.7
21.7
32.2
769.3
112 9
.5
395.7
132.3
7.9
245.6
23.3
20.1
50.8
707.2
115.8
.6
349.2
143.6
7.4
295.6
5.1
21.5
26.1
60.8
911.1
108 7
132.5
373.2
142.3
7.3
246.9
380.6
173.1
9.7
208.2
.7
.9
2.2
17.6
29.5
52.7
805.5
94.3
.6
282.0
134.6
14.0
197.1
1.1
2.5
33.9
28.2
34.9
819.0
113 8
.7
364.5
124.4
9.5
271.8
121 6
.8
3.7
23.3
29.4
35.0
800.8
138.1
.9
421.2
170.2
18.4
296.4
23.6
25.0
31.3
708.7
123.1
.5
379.7
162.6
12.5
266.6
2.5
30.9
34.2
50.3
792.2
25.4
30.1
44.6
779.9
128.3
140.9
.7
436.8
167.0
15.5
292.6
.6
415.3
138.9
17.8
288.6
1,234.2 1,339.2 1,373.2 1,062.9 1,025.8 1,205.6 1,372.3 1,456.5 1,301.8 1, 477.8 1,337.8 1,546.1 1,443.4
604.1
473.6
608.9
482.9
562.5
456.1
421.2
488.9
521.1
486.1
476.3 447.4
615.8
23.6
15.5
16.8
16.1
14.8
16.3
16.9
17.1
24.4
17.5
15 0
21.3
17.7
108.2
85.3
74.2
76.6
80.5
131.2
64 3
85 2
70 6
86 2
78 9
48 3
74 7
6.5
5.4
10.1
6.3
12.4
3.3
13.3
12 6
7.1
68
5.3
4 1
67
33.6
30.7
17.0
30.1
23.2
35.1
24.5
27.9
24.9
26.1
14.5
19.2
21.0
193.2
114.6
126.6
196.8
161.7
170.5
155.1
146.6
149.4
144.7
125.2
121.3
125.0
107.8
108. C 101 9 108 8
104.1
109.2
130.8
95 2
87.0
134 4 130.6
99 1
113 9
709.4
666.0
556.1
545.4
659.7
618.1
534 9
580 3 554 1
564 3
487 7
526 7
471 3
3,760.2 4,187.3 4,239.8 3,842.4 4,171. 2 3,939.4 4,426. 7 4,635.7 i, 230. 7 4, 763.3 4,326. 5 4,929.6 4,637. 8
SURVEY
June 1973
Unless otherwise stated in footnotes below, data
through 1970 and descriptive notes are as shown
in the 1971 edition of BUSINESS STATISTICS
1971
CURRENT BUSINESS
1972
1972
Annual
S-23
Apr.
May
June
July
Aug.
1973
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
658.3
21.6
145.2
119.8
80.3
98.9
398.3
92.7
50.0
19.2
20.0
502.2
463.2
May
FOREIGN TRADE OF THE UNITED STATES—Continued
FOREIGN TRADE—Continued
Value of Imports—Continued
General imports—Continued
By commodity groups and principal commodi
ties:
Food and live animals 9
—
mil. $.
Cocoa or cacao beans
do__.
Coffee
do__.
Meats and preparations
do...
Sugar
do...
Beverages and tobacco
do...
Crude materials, inedible, exc. fuels 9
do...
Metal ores
do...
Paper base stocks
...do...
Textile
fibers
do...
Rubber
_
do...
Mineral fuels, lubricants, e t c . . .
Petroleum and products
do...
_
do._.
Animal and vegetable oils and fats
do...
Chemicals
do__.
Manufactured goods 9
Iron and steel
Newsprint
Nonferrous metals
Textiles—
Machinery and transport equipment
Machinery, total 9
Metalworking
Electrical
do...
do...
do...
...do...
do...
do...
do...
do...
___do__.
Transport equipment
do...
Automobiles and parts
do._.
Miscellaneous manufactured articles.
do...
Commodities not classified
do...
Indexes
1
Exports (U.S. mdse., excl. military grant-aid *:
Unit value
1967 = 100.
Quantity
do...
Value
do...
General imports:
Unit v a l u e . . . .
do...
Quantity
._
do...
Value
do...
Shipping Weight and Value
Waterborne trade:
Exports (incl. reexports):
Shipping weight
thous. sh. tons.
Value
mil. $.
General imports:
Shipping weight
thous. sh. tons.
Value
mil. $.
5,528.6
181.3
1,166.6
1,050.1
763.6
875.5
3,382.0
1,043. 9
502.3
158.4
216.0
525.5
13.3
78.8
89.8
102.4
484.3
9.9
79.2
101.8
65.9
291.7
70.9
42.2
17.2
15.5
516.2
12.8
95.5
94.6
48.4
88.0
341.8
100.4
38.3
17.8
16.9
324.1
95.6
42.8
16.8
11.5
354.9
299.7
375.3
334.6
375.1
336.1
6,362.0
150.7
1,181. 7
1, 222. 8
824.1
1,009. 5
3, 859. 9
1,021.6
509.9
195.9
196.2
475.3
14.3
61.1
92.1
69.7
3,714. 8 4,798. 8
3,323.3 4,299. 6
544.6
6.8
103.5
111.9
52.4
117.3
383.1
112.5
49.0
16.9
17.6
539.2
23.6
83.7
89.6
62.7
99.3
324.9
88.5
38.5
14.9
18.3
616.7
25.7
132.9
108.8
71.9
109.2
388.5
84.4
56.7
21.9
19.5
568.4
24.1
121.5
99.7
48.9
334.9
85.6
43.4
14.6
14.3
585.1
8.0
128.8
127.0
62.0
107.1
347.3
87.8
45.9
15.7
18.0
341.2
62.6
48.1
21.0
18.0
630.1
20.1
141.1
96.6
72.1
83.5
383.8
69.8
52.2
21.8
23.3
409.3
366.7
412.4
371.0
416.9
374.4
475.7
431.1
532.7
488.1
494.9
452.4
595.1
553.7
555.1
4.0
130.1
125 4
64.4
316.8
86.7
36.9
16.9
12.7
576.2
7.6
111.7
128.4
91.0
55.7
316.9
90.3
41.4
19.6
16.4
378.4
341.4
400.2
365.8
63.6
72.4
76.3
171.6
179.6
12.3
14.3
15.5
16.3
11.1
11.5
15.5
10.1
21.7
8.8
16.8
14.7
13.6
1,612.3
2,015.0
187.7
169.2
175.2
144.2
168.0
159.0
165.9
177.4
166.4
189.1
190.2
202.7
221.9
804.9
155.8
89.7
138.8
115.0
993.7 1,017.7
266.5
263.4
92.2
91.8
168.6
200.6
126.7
127.0
940.5
256.5
85.7
147.9
118.5
994.1
291.9
83.3
141.3
140.2
941.7 1,085.1 1,072.5
314.9
303.8
263.1
96.5
96.4
87.0
173.0
179.8
151.2
125.8
141.5
116.3
286.6
87.9
161.5
114.4
1,107. 8
240.7
110.6
224.7
144.2
983.8 1,078.2
220.1
232.0
107.3
90.6
199.5
178.2
143.5
124.1
992.8
204.4
100.5
159.1
133.5
9,645.8 11,421. 6
2,725. 2 2, 926. 4
1,053. 9
1,551.6 1,933. 2
1,391.2 1, 528.4
13,873.2 17,400.1 1,429.7 1,566.6 1,531.6 1,247.2
5,967.8 7,786. 9 616.2
646.7
672.7
610.7
106.8
140.4
13.1
9.0
7.8
14.7
2,555.1 3,375. 4 252.5
256.8
282.4
266.6
7,905. 5 9, 613. 2
6,776.4 7,945. 9
813.4
676.3
5,372.9
6,910. 7
496.1
1,475. 6 1,598.0
127.3
919.9
778.4
524.7
132.2
858.9
705.0
636.5
513.0
580.9
595.9
131.9
126.5
1,370.6 1,265.2 1,523.4 1,702.7 1,491.9 1,675.9 1,660.0 1,813.0 1,710.1
812.3
737.5
806.8
698.4
702.0
647.4
687.4
667.1
613.1
13.3
17.4
10.9
14.4
11.8
12.8
12.0
11.4
9.0
363.8
332.0
344.4
317.0
275.0
284.6
315.8
331.4
299.1
965.2
903.3
977.5
858.0 1,000.6
844.5
703.4
836.0
652.0
748.3
841.0
715.8
805.0
697.3
699.6
552.8
527.8
797.7
643.2
631.5
584.2
563.0
618.2
698.9
621.4
151.3
162.8
128.7
144.6
147.1
135.6
132.7
143.9
114.4
122.4
140.0
118.2
133.5
157.7
117.3
127.3
149.2
116.4
137.1
159.6
118.0
130.8
154.4
117.7
119.9
141.0
116.7
130.0
151.7
118.0
129.2
152.5
118.4
145.0
171.6
122.8
143.3
176.1
122.6
144.6
177.3
123.5
148.3
183.2
126.6
148.3
187.7
127.3
179.1
228.0
129.0
164.0
212.6
117.4
144.5
169.6
126.2
163.7
206.6
124.8
151.9
189.6
125.1
168.5
210.7
126.7
167.9
212.7
126.1
152.7
192.5
127.3
165.8
211.0
128.3
156.0
200.1
129.8
172.1
223.5
130.4
177.5
231.6
130.3
164.3
214.0
133.3
181.5
242.0
134.3
164.3
220.7
• 137. 5
181.6
249.7
145.1
164.5
238.6
204,132 230,137
22,610 25, 523
18,601
1,910
19,328
2,046
19,631
2,031
17,742
1,991
21,938
2,088
20,432
2,025
21,680
2,338
21,943
2,449
20,720
2,531
313,167 350,551 25,335
26,993 33, 610 2,452
28,300
2,868
30,050
2,860
28,083
2,737
31, 753
3,154
28,377
2,825
30,923
3,107
32,531
3,076
33,428
2,853
12.50
49.1
1,696
11.05
47.9
1,534
12.94
50.2
1,814
9.80
208
56
203
52
10.26
246
61
46
2.24
133
42
2.68
166
47
TRANSPORTATION AND COMMUNICATION
TRANSPORTATION
Air Carriers (Scheduled Service)
Certificated route carriers:
Passenger-miles (revenue)
_bil__
Passenger-load factor§
percent..
Ton-miles (revenue), totals
_
mil..
135.63
48.5
18,685
152.41
53.0
20,746
mil. $_. 10,046
r
do
8, 220
_do
..IldoIII.
do
'9,717
IdoII
'30
11,163
9,271
938
272
10, 579
222
_
106.44
2,278
708
118.14
2,567
Operating revenues©
..mil. $._ r 7,753
Operating expenses©
_
_
d o . . " r 7,496
Net income after taxes©
doll
'31
International and territorial operations:
Passenger-miles (revenue)...
_
bil
29.22
Express and freight ton-miles
.mil..
1,518
Mail ton-miles
do
617
8,652
8,158
196
Operating revenues9O
Passenger revenues
Freight and express revenues
Mail revenues
Operating expenses©
Net income after taxes©
__
Domestic operations:
Passenger-miles (revenue)
Express and freight ton-miles
Mail ton-miles
Operating revenues©
Operating expenses©
Net income after taxes©
__
".
I.
bil_.
mil..
do
2,292
.do....
.do....
2,221
r
-i
Local Transit Lines
Fares, average cash rate
26.6
cents. .
5,497
Passengers carried ("revenue)
mil..
r
Revised.
v Preliminary.
9 Includes data not shown separately.
^Applies to passengers, baggage, cargo, and mail carried.
34.27
1,738
515
12.27
52.2
1,651
12.03
49.4
1,654
15.10
60.9
1,931
15.65
62.7
2,034
2,801
2,321
225
65
2,638
9.59
194
56
9.15
216
56
10.68
218
55
2.67
137
2.88
140
38
3.26
141
38
11.28
192
49
27.2
460
27.2
442
12.29
£0. 9
1,725
11.52
50.0
1,687
11.93
229
65
9.22
223
53
3.82
144
3.72
147
38
3.25
145
38
732
630
57
13.08
53.1
1,842
2,812
2,308
268
76
2,705
34
9.50
235
55
9.25
253
57
2,278
2,045
108
645
603
21
27.2
448
12.47
53.8
1,705
3,010
2,535
236
62
2,675
165
2,156
2,036
47
2,512
2,420
26
27.4
'5,286
13.95
55.9
1,847
10.42
237
75
2,212
2,093
52
2.79
164
42
2.27
169
55
2.66
155
600
613
-18
27.8
27.8
27.8
27.8
27.8
27.8
27.8
27.8
27.8
465
512
424
438
446
424
411
451
427
§Passenger-miles as a percent of available seat-miles in revenue service; reflects proportion
of seating capacity actually sold and utilized.
©Total revenues, expenses, and income
for all groups of carriers also reflect nonscheduled service.
27.2
384
SURVEY OF CURRENT BUSINESS
S-24
Unless otherwise stated in footnotes below, data
through 1970 and descriptive notes are as shown
in the 1971 edition of BUSINESS STATISTICS
1972
1972
1971
Annual
June 1973
Apr.
May
June
July
Aug.
1973
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
153.1
160.1
166.0
Apr.
May
204.1
2 63.5
2
20.32
65
143
20.06
67
129
TRANSPORTATION AND COMMUNICATION—Continued
TRANSPORTATION-Continued
Motor Carriers (Intercity)
Carriers of property, class I :
Number of reporting carriers
Operating revenues, total
_ _ _ mil. $_
Expenses, total
_
do
Freight carried (revenue)
mil. tons.
Freight carried, volume Indexes, class I and II
(ATA):
Common and contract carriers of property
(qtrly.) cf
avprage same period, 1967=100..
Common carriers of general freight, seas. adj.
1967=100..
Carriers of passengers, class I:
Number of reporting carriers
Operating revenues, total
mil. $
Expenses, total
_ do.. .
Passengers carried (revenue)
mil..
il,370
13,055
12, 265
599
119.0
128.0
124.5
136.4
172
759.9
665.4
166.7
172
768.1
682.5
156.8
70
8 349.8
8 327.8
8 75.7
13,411
12,571
7
257
7 3,437
3,226
10,550
2,026
835
«500
800.8
780.7
1.616
8,560
Class I Railroads
Financial operations, qtrly. (AAR):
Operating revenues, total 9
mil. $_. 7 12,697
Freight
do
11,793
Passenger ©
do
7 294
Operating expenses ©~
_
_
_ do
10,058
Tax accruals and rents
do
1,939
Net railway operating income
do.. .
700
Net income (after taxes) ©
do
«351
Traffic:
Ton-miles of freight (net), revenue and nonrevenue
bil
752.2
Revenue ton-miles, qtrly. (AAR)
do
739.7
Revenue per ton-mile
cents. .
1.594
Passengers (revenue) curried 1 mile
..mil..
8,901
Travel
Hotels and motor-hotels: §
Average sale per occupied room
dollars
Rooms occupied
%of total..
Restaurant sales index.-.samo mo. 1951 = 100 .
Foreign travel:
U.S. citizens: Arrivals
thous..
Departures
do
Aliens: Arrivals
do
Departures
do
Passports issued
do
National parks, visits^
do
1,529
8 7, 076
8 6,668
8 321
7
129.0
131.0
137.0
137.4
135.3
127.6
132.1
134.0
124.0
140.3
145.3
156.3
7 3,302
3,088
7 66
7 3,475
3,255
7
60
2,686
512
239
« 151
2,616
508
178
«88
2,716
509
250
9
184
8 395. 2
198.8
51. 612
8 4,251
190.4
204.4
U8
18.74
60
114
19.21
62
123
19.07
66
130
19.35
66
140
19.53
68
136
19.45
63
124
19.83
68
117
19.54
64
125
20.43
71
125
19.38
60
111
18.88
48
122
19.52
57
105
19.85
60
118
7,591
7,059
4,325
3,567
2,399
48,863
< 9, 068
* 8,312
* 5,193
* 4,310
765
612
381
303
704
730
386
330
749
931
445
382
1,055
1,003
579
450
1,130
856
586
539
844
736
542
416
771
625
434
383
664
542
368
324
543
606
407
382
663
548
452
342
589
583
346
272
313
2,898
328
4,390
329
7,258
249
10,819
235
10,393
174
5,651
140
3,896
132
2,055
119
1,716
183
' 1,656
230
' 1, 848
322
' 2,252
345
r3,356
»5,035
« 2,399
» 1,959
9
3,144
»956
»112. 4
3 5,625
3 2,699
3 2,172
3 3,603
3 1,024
3 117.5
976
1,151
938
1,183
99
851
197
597
31,931
528
965
1,197
' 102
849
198
582
31, 084
855
' 1, 135
98
'779
180
'608
29,286
'524
719
1,319
108
1,284
'616
32,729
'567
366
12
885
58
108
2,672
333
12
879
42
103
2,501
328
11
'808
53
'110
' 2,518
350
13
895
65
130
'2,672
2,728
54,087
67.4
335
4,826
COMMUNICATION (QTRLY.)
Telephone carriers:
Operating revenues 9
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
19,811
9,699
7,655
12,886
3,354
108.4
396.8
337.0
31.7
109 4
88.9
13.9
206.0
150.8
44.3
56.2
39.9
12.9
CHEMICALS AND ALLIED PRODUCTS
CHEMICALS
Inorganic chemicals, production:
Acetylene*
mil. cu. ft.. 12,336 Ul,457
917
Ammonia, synthetic anhydroiisj.thous. sh. tons.. 14,029
14,302
1,280
Carbon dioxide, liquid, gas, and solid?
do
1,344
108
1,270
Chlorine gas (100% Clj)*
do_.
807
9,869
9,352
Hydrochloric acid (100% HCl)i
do
177
2,099
2,201
Nitric acid (100% HNOj)J
do .
626
6,742
7,022
Oxygen (high and low purity)©
mil. cu. ft
319,152 '4352,144 28, 691
Phosphoric acid (100% PaO5)t
thous. sh. tons..
541
6,240
6,263
Sodium carbonate (soda ash), synthetic (58%
4,275
Na 2 O)t
thous. sh. tons._
«4,301
367
138
Sodium bichromate and chromate
do
137
10
Sodium hydroxide (100% NaOH)f
do....
9,667
10,263
841
Sodium silicate, anhydrous?
do
628
663
55
Sodium sulfate, anhydrous!
do
1,356
1,358
109
Sulfuricacid (100% HjSO4)J
do
29,422
31,046
2,646
1,290
123
845
178
623
30,353
551
953
1,212
129
810
181
577
29,388
490
383
11
880
56
130
2,713
342
11
837
54
118
2,522
' Revised.
v Preliminary.
i Number of
carriers filing complete reports for the year.
2
4
For month shown.
3 F o r 53 carriers.
Annual total reflects revisions not distributed
to
the
monthly
or
quarterly
data.
s
Based
on six months ending in month shown.
8
Before extraordinary and prior period items.
7 Reporting roads only; excludes AMTRAK
operations.
s For six months ending in month shown.
» For 2d qtr. 1971, 63 carriers.
cf Indexes are comparable for the identical quarter of each year (and from year to year)
©Natl. Railroad Passenger Corp. (AMTRAK) 1972 operations (not included in AAR data
925
1,150
123
838
180
531
28,920
501
353
12
856
45
106
2,487
943
1,223
130
857
190
524
29,095
507
380
13
892
49
109
2,659
904
1,133
122
809
179
552
29,399
512
331
11
840
55
109
2,495
978
1,167
117
851
194
608
31,672
557
195
587
30,677
510
376
12
886
65
117
2,660
376
12
873
70
113
2,628
634
567
2,637
above), mil. dol.: Passenger revenues, 138.2; expenses, 286.3; net income, -147.5 (ICC). 9 Includes data not shown separately.
IRevised monthly data back to 1969 will be shown later.
©Not comparable with data in 1971 BUSINESS STATISTICS.
§Effective Jan. 1972, data reflect an expanded sample that includes many motor-hotels;
restated data for 1971 are comparable.
IData include visits, effective Jan. and July 1971, to Guadalupe Mts. and Redwood National Parks, and effective Jan. 1972, to Arches and Capitol Reef National Parks.
SURVEY OF CURRENT BUSJJNES
June 1973
1971
Unless otherwise stated in footnotes below, data
through 1970 and descriptive notes are as shown
in the 1971 edition of BUSINESS STATISTICS
S-25
1972
I 1972
Apr.
Annual
May
June
July
Aug.
1973
Sept.
Oct.
Nov.
Dec.
Jan.
3.0
7.8
18.1
479.5
14.7
465.7
Feb.
Mar.
Apr.
May
CHEMICALS AND ALLIED PRODUCTS—Continued
CHEMICALS—Continued
Organic chemicals, production:o"©
Acetic anhydride
mil. lb. 1,545.8
31.7
Acetylsalicylic acid (aspirin)
do
119.2
Creosote oil
mil. gali 159.8
Ethyl acetate (85%)
mil.lb. 4,373.1
Formaldehyde (37% HCHO)
do...
339.8
Glycerin, refined, all grades:
28.2
Production
do...
i 754.7
Stocks, end of period
..do
Methanol, synthetic
mil. gal. i 766. 4
Phthalic anhydride
mil. lb_
ALCOHOL
Ethyl alcohol and spirits:X
Production
mil. tax gal.. 552.9
132.8
Stocks, end of period
do—
432.7
Used for denaturation
do
88.0
Taxable withdrawals
do
Denatured alcohol:t
Production
Consumption (withdrawals)
Stocks, end of period
1
1, 560.6
134.6
119.1
127.0
3.2
9.2
129.5
3.1
10.1
119.4
3.0
10.3
121.1
2.7
8.9
124.2
2.5
11.3
1
217. 2
5, 500.0
16.5
408.0
21.9
462.1
20.5
443.4
11.8
384.5
353.0
25.6
i1 897. 0
936.0
29.9
26.8
68.6
71.0
32.2
29.8
75.0
75.9
31.4
26.2
70.5
95.0
621.4
76.9
453.0
82.5
43.7
109.8
38.2
7.0
52.4
101.8
234.1
234.6
2.9
245.9
246.7
2.0
20.6
20.4
3.1
17,106
1,050
13,431
1,033
19,612
1,123
14,953
1,353
374
229
4, 549
203
2.9
11.0
130.1
2.5
8.9
21.3
519.8
3.0
9.8
19.6
430.8
19.8
458.8
18.4
458.5
2.3
8.7
20.3
450.0
25.7
26.3
75.1
82.1
32.1
26.1
85.3
74.2
29.1
30.1
81.0
73.6
30.8
24.5
64.7
75.5
25.7
24.3
87.5
71.2
30.9
25.6
84.4
77.7
31.5
24.7
83.5
75.5
28.1
23.8
79.4
71.4
'30.8
'21.6
'93.1
89.8
56.7
100.0
36.8
8.4
54.7
98.1
6.0
57.7
98.9
39.0
6.1
64.0
103.8
36.4
6.1
59.3
105.4
40.7
7.3
51.5
96.2
37.3
7.0
53.4
76.9
35.3
5.8
57.1
95.9
41.3
6.1
52.5
90.7
37.5
4.9
57.1
87.8
41.3
6.2
21.8
22.0
21.0
21.0
2.8
21.1
21.2
3.0
21.2
21.4
2.7
19.4
19.5
2.7
21.9
22.0
2.6
20.1
19.9
2.8
19.1
19.5
2.0
22.2
21.8
2.8
20.2
20.4
2.6
22.2
22.5
2.5
2,034
68
1,802
60
1,216
54
968
118
2,182
78
1,849
79
1,697
75
1,324
133
1,643
104
1,217
124
1,802
61
1,292
217
1,702
135
1.209
140
1,358
88
1,013
75
1,599
107
1,103
111
1,666
81
1,259
95
1,451
52
1,054
136
1,830
91
1,438
129
1,770
109
1,391
83
378
264
4,855
111
71
38
640
5
73
14
453
1
19
14
283
31
10
13
260
4
15
16
298
23
17
13
410
0
20
23
507
1
20
22
303
9
17
14
274
5
27
26
442
16
28
23
431
3
46
761
1
74
46
713
0
5,026
4,913
603
547
388
174
307
369
494
246
330
384
511
782
4,966
389
5,482
433
489
235
240
431
324
427
410
415
449
369
461
347
477
418
469
433
491
455
••477
'437
491
333
2,120. 0
2,108. 7
2, 830. 9
1,562.8
1,268.2
3,009. 2
1,659. 3
1,349. 8
252.7
143.2
109.5
285.8
162.0
123.8
292.4
171.7
120.7
257.6
160.0
97.7
286.4
167.2
119.1
269.0
152.0
116.9
254.0
135.4
118.6
224.7
113.8
110.8
190.0
95.0
95.0
225.5
114.5
111.0
235.0
124.7
110.3
272.1
146.2
125.9
5 9,116
3,786
732
4,267
738
4,156
715
4,104
741
4,159
796
4,127
776
805
4,019
775
4,003
785
3,956
790
3,832
697
3,807
812
3,783
123.1
122.9
116.7
124.1
146.5
173.3
156.9
155.4
215.7
162.9 ' 182. 6
395.0 391.2
349.9 352.8
644.3 603.9
370.7
323.3
604.3
389.9
349.0
658.0
386.1
357.9
662.2
404.4
384.1
686.2
406.9
377.1
669.0
413.0
396.7
421.6
384.2
679.5
403.1
363.2
638.5
mil. wine gal..
do
do
1
8.0
()
2.8
3.0
11.4 '10.7
2.4
8.6
'23.8
24.5
• 519. 2 527.7
29.5
22.5
88.7
81.9
FERTILIZERS
Exports, total?
Nitrogenous materials
Phosphate materials
Potash materials
thous. sh. tons..
do
do
do
Imports:
Ammonium nitrate
do
Ammonium sulfate
do
Potassium chloride
do
Sodium nitrate
do
Potash deliveries (KjO)
do
Superphosphate and other phosphatic fertilizers
(100%P2O8):
Productiont
thous. sh. tons..
Stocks, end of period
do
1
1
1
455
222
MISCELLANEOUS PRODUCTS
Explosives (industrial), shipments, quarterly §
mil. lb..
Paints, varnish, and lacquer, factory shipments:
Total shipments
mil. $..
Trade products
do
Industrial
finishes
do
Sulfur, native (Frasch) and recovered:
Production
thous. Ig. tons_. 4 8,611
Stocks (producers'), end of period
do
4,311
PLASTICS AND RESIN MATERIALS
Production:
Thermosetting resins:
Alkyd resins
mil. lb..
()
637.7
Polyester resins
do
Phenolic and other tar acid resins
do
1
683.4
Urea and melamine resins
do
Thermoplastic resins:
Cellulose plastic materials
Coumarone-indene and petroleum
resins.
Styrene-type materials (polystyrene)
Vinyl resins (resin content basis)?
Polyethylene
do
polymer
mil. lb_.
()
1
do
3,749.8
1
do
4,075.8
do
i 6,395.8
1
1
1
573.0
1, 680.1
(2)
4,602. 0 357.7
4,288. 9 339.1
17,629. 5 622.8
534.0
476.0
479.1
443.6
' 395. 0
721.0
162.0
423.0
385.9
693.8
ELECTRIC POWER AND GAS
ELECTRIC POWER
Production (utility and industrial), total t
mil. kw.-hr_. 1,717,520
Electric utilities, total
do
1,613,936
By fuels
do
1,347,616
By waterpower
do
266,320
Privately and municipally owned util
Other producers (publicly owned)
Industrial establishments, total
By fuels
_
By waterpower
do
do
do
do
do
1,853,390 140,883 146,663 154,360 166,652 171,861 156,028 152,759 152,625 163,329
1,747,323 132,138 137,745 145, 523 157,846 162,822 147,358 143, 742 143,867 154,350
1,474,589 108,705 113,375 122, 254 134, 292 140,075 128, 291 124,401 122, 473 129,587
272,734 23,434 24,370 23, 269 23,553 22,747 19, 067 19,341 21, 394 24,763
1,322,540 1,435,599 107,730 112,960 119,219 129,089 133,735 121, 992 118, 971 118, 425 126,636
291,396 301,724 24,409 24, 785 26,304 28,756 29,087 25,366 24, 771 25,443 27,714
103,585 106,067
8,744
8,918
8,807
8,837
8,979
9,040
8,670
9,018
8,758
100,325 102,678
8,615
8,447
8,522
8,537
8,669
8,756
8,428
8,747
8,460
3,260
3,389
303
285
284
242
299
310
271
' Revised.
P Preliminary.
i Reported annual total reflecting revisions not distributed to the monthly data. » Series
discontinued.
s Less than 500 short tons. < Annual total reflects sulfur content, whereas
monthly data are gross weight.
« Gross weight.
K Beginning Jan. 1972, data exclude
polyvinyl acetate, polyvinyl alcohol, and other vinyl resins.
©Except for glycerin, scattered revisions have been made in the annual data back to 1965;
monthly revisions are not available.
cf Data are reported on the basis of 100 percent content of the specified material unless
otherwise indicated.
9 Includes data not shown separately.
§Data exclude black blasting powder.
t Revised monthly data for 1970 will be shown later.
SURVEY OF CURRENT BUSINESS
S-26
1971
Unless otherwise stated in footnotes below, data
through 1970 and descriptive notes are as shown
m the 1971 edition of BUSINESS STATISTICS
1972
1972
Annual
June 1973
Apr.
June
May
July
Aug.
1973
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
ELECTRIC POWER AND GAS—Continued
ELECTRIC POWER—Continued
Sales to ultimate customers, total (Edison Electric
Institute)
mil. kw.-hr.. 1,466,441 1,577,714 124,326 123,457 128,367 134,108 141,473 141,720 135,133 131,021 134,957 143,115 139,596
Commercial and industrial:
333,752 361,859 27, 915 28,247 30,514 32,423 33,874 33,784 31,384 29,781 30,021 31, 665 31,124
Small light and power§
do
Large light and power§
do
592,699 639,467 51,825 53,161 53,651 52,492 55,020 55,575 56, 259 55,404 54, 111 55, 111 54,619
L36,747
30,646
55,627
Railways and railroads
Residential or domestic
do
do
4,537
479,080
4,440
511,423
365
39,352
368
36,813
335
38,827
345
43,899
336
47, 232
341
46, 882
347
41,929
358
40, 253
395
45,137
390
50,700
379
48,428
397
45,126
Street and highway lighting
Other public authorities
Interdepartmental
do
do
do
11,673
39,819
4,880
12,193
43,190
5,142
971
3,488
410
3,526
413
901
3,671
469
906
3,601
442
950
3,617
442
985
3,715
438
1,075
3,704
435
1,124
3,687
415
1,165
3,705
424
1,187
3,641
422
1,092
3,534
420
1,078
3,447
426
Revenue from sales to ultimate customers (Edison
Electric I n s t i t u t e ) . .
mil. $._ 24,725. 2 27,921.1 2,179. 5 2,178.2 2, 286.8 2,412.0 2,529.1 2,544. 2 2,417.1 2,333.4 2,402.1 2, 540.6 2,511.3 2,472. 6
GASf
Total utility gas, Quarterly
(American Gas Association):
Customers, end of period, total
Residential
Commercial
_
Industrial
Other
Sales to customers, total
Residential
Commercial
Industrial
_
Other
Revenue from sales to customers, total
Residential...
_
Commercial
_
Industrial
Other
_.
thous..
do
..do
do
do
42,706
39,189
3,264
206
46
43,307
39,716
3,332
209
50
42, 673
39,191
3,230
205
47
42,728
39,280
3,198
194
56
43,307
39,716
3,332
209
50
tril. Btu._
do
do
do
do
16,680
5,040
2,156
8,643
841
16,969
5,176
2,334
8,530
928
3,977
1,067
489
2,207
213
3,250
464
267
2,262
257
4,266
1,402
11,355
5,635
1,829
3,568
323
12,498
6,138
2,074
3,873
413
2,841
1,328
442
980
91
1,985
3,292
1,671
566
949
106
mil. $_.
do
do
do
do
2,000
225
235
953
FOOD AND KINDRED PRODUCTS; TOBACCO
ALCOHOLIC BEVERAGES
Beer:
137.36
13.18
13.09
141. 28
14.21
13.25
Production
mil. bbl..
12.53
127.40
12.22
12.89
11.09
12.41
13.12
131. 81
Taxable withdrawals
do
12.23
14.49
14.51
14.45
13.75
12.44
14.40
Stocks, end of period._.
do
Distilled spirits (total):
183. 27
16.50
16.50
15.83
8.04
190. 27
18.88
Production
mil. tax gal..
Consumption, apparent, for beverage purposes
27.80
28.67
32.45
35.18
29.34
mil. wine gal_. 2 382. 35 2 393. 37
182. 07
14.19
14.24
16.61
18.19
200.43
16.73
Taxable withdrawals
mil. tax gal..
996.62
971.70 1,008. 08 1, 009.32 1,007. 56 1L,001.98 991. 93
Stocks, end of period
do....
102.14
6.99
7.45
100.16
9.27
6.13
Imports
mil. proof gal_.
6.69
Whisky:
119. 38
4.72
12.11
9.89
3.63
Production
mil. tax gal_.
116.56
11.31
116.84
10.83
9.36
9.72
10.94
130.09
8.86
Taxable withdrawals
do
945. 80
924.41 957. 72 959.37 958.39 952.97 944.46
Stocks, end of period
do
6.20
5.26
87.69
5.76
8.20
Imports
mil. proof gal.. * 89. 29
6.50
Rectified spirits and wines, production, total
mil. proof gal_.
Whisky
do....
Wines and distilling materials:
Effervescent wines:
Production
mil. wine gaL.
Taxable withdrawals
do
Stocks, end of period
do
Imports
do
Still wines:
Production
do
Taxable withdrawals
do
Stocks, end of period
do
Imports
do
11.41
10.88
13.54
11.15
10.61
13.36
9.92
9.92
12.77
9.59
9.27
12.44
10.98
9.67
13.07
10.72
9.43
13.70
13.14
12.01
14.00
18.44
12.79
16.08
16.33
15.52
15.25
15.75
30.68
18.65
984. 85
7.10
33.73
22.14
977.70
11.61
39.52
20.75
972.30
11.64
48. 34
16.46
971. 70
12.65
28.20
15.14
970.43
7.77
26.73
13.87
971.96
6.62
12.75
937. 44
6.19
9.32
15.86
929. 65
10.17
10.52
14.29
924. 70
10.29
9.94
10.22
924.41
11.33
10.47
9.64
924.02
116.12
63.05
120.19
62.55
9.45
5.11
10.87
6.02
11.44
6.36
8.97
5.47
9.26
4.43
9.51
4.75
12.59
12.29
6.35
9.21
4.14
9.24
3.86
24.60
22.10
8.57
1.88
21.13
20.36
8.09
1.98
1.58
1.08
9.69
.14
1.82
1.57
9.81
.16
1.65
1.78
9.58
.15
.79
1.01
9.31
.12
2.83
1.35
10.65
.12
1.37
1.63
10.36
.10
1.91
2.51
9.64
.20
1.98
2.80
8.71
.24
2.30
2.74
8.09
.31
1.41
1.11
8.19
.18
357.36
246. 97
366.31
» 34. 28
301.15
269.89
350. 88
45.07
4.84
21.00
297.85
2.87
8.16
21.75
281. 43
3.84
7.51
24.24
262. 06
3.80
7.52
17.70
251.81
3.49
26.39
19.95
255.37
4.02
75.58
22.98
305.25
3.33
84.87
25.04
356. 65
3.90
42.62
25.09
366.39
4.94
19.87
25.39
350. 88
4.66
12.26
22.13
331. 79
4.38
402.38
261.10
4.06
2.92
.48
.96
50.22
123.59
50.38
7.84
1.97
mil. lb_. 1,143.6
96.8
do
$ per lb
1,109. 6
107.5
.696
110.2
128.5
119.4
159.1
111.1
195.9
89.4
210.7
76.3
198.4
.704
65.4
178.4
.710
75.9
154.7
.708
73.2
132.5
.703
81.0
107.5
.715
mil. lb_. 2,380.4
do
1,510.6
2,612. 4
1,672.8
232.1
153.9
250.8
172.1
257.9
176.4
237.8
164.2
220.0
145.6
199.7
125.0
197.3
118.1
184.9
106.9
304.3
238.9
95.5
331.4
269.4
179.4
311. 7
246.4
10.0
340.4
275.0
13.0
376.3
307.8
10.1
407.6
341.2
14.8
409.7
341.9
14.1
404.0
335.8
15.6
379.3
314.2
17.8
.671
.714
.719
.702
.702
.707
.709
.709
.718
Distilling materials produced at wineries._-do
17.98
972.74
8.37
7.58
11.00
8.90
926. 03
5.70
11.89
11.33
926.32
7.21
6.55
7.51
3.53
9.77
4.40
.18
.14
3.52
4.30
4.42
96.1
108.7
.687
84.4
109.5
• 116. 6
125.4
.624
204.7
116.0
202.9
123.5
193.7
120.1
353.6
291.7
20.3
331.4
269.4
19.9
322.1
260.4
15.2
321.1
260.1
11.4
• 302.4
244.9
14.9
303.4
247.3
12.2
313.9
272.7
.736
.744
.745
.746
.765
.783
.792
DAIRY PRODUCTS
Butter, creamery:
Production (factory) X
Stocks, cold storage, end of period
Price, wholesale, 92-score (N.Y.)
Cheese:
Production (factory), totalf...
American, whole milkj
Stocks, cold storage, end of period
do
American, whole milk
do
Imports
do
Price, wholesale, American, single daisies (Chicago)
$perlb__
r
Revised,
i Reported annual total; revisions are not distributed to the monthly data.
Includes Hawaii; no monthly data available.
§Data are not wholly comparable on a year to year basis because of changes from one
2
.620
classification to another.
fData restated to represent the total gas utility industry, 99
percent of which is natural gas; also, sales are expressed in B.t.u. instead of therms.
I Revised data for months prior to May 1971 will be shown later.
SURVEY OF CURRENT BUSINESS
June 1973
Unless otherwise stated in footnotes below, data
through 1970 and descriptive notes are as shown
in the 1971 edition of BUSINESS STATISTICS
1971
1972
1972
Apr.
Annual
S-27
June
May
July
Aug.
1973
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
FOOD AND KINDRED PRODUCTS; TOBACCO—Continued
DAIRY PRODUCTS— Continued
Condensed and evaporated milk:
Stocks, manufacturers', case goods, end of month
Exports:
Condensed (sweetened)
EvaDorated (unsweetened)
Fluid milk:
Production on farms
TTHHTflHnn in mfd Hnirv nrodnof^
Price, wholesale, U.S. average
1,172.8
105.6
124.4
130.8
109.4
109.5
85.7
83.8
69.6
80.8
75.8
73.5
88.6
74.7
76.5
108.0
125.0
145.6
140.2
143.8
138.8
104.1
74.7
60.2
55.2
35.1
32.7
14.4
40.5
3.4
3.2
2.8
2.9
.1
3.2
.3
3.1
.1
5.0
3.6
0)
.1
2.9
.2
4.4
.3
3.2
.2
3.8
.1
3.5
.2
4.8
120, 278 10,633
7 61,731 5,901
5.84
6.10
11,303
6,554
5.76
10,983
6,673
5.76
10,450
5,887
5.78
9,982
5,405
6.01
9,443
4,646
6.23
9,460
4,549
6.42
8,987
4,156
6.55
9,401
4,464
6.55
9,630
4,914
6.55
9,055
4,659
6.56
10,321
5,378
6.52
10,488
11,078
'6.40
?6.34
8.1
128.9
8.5
153.0
4.3
127.4
4.8
99.4
5.4
77.0
6.8
69.6
6.3
61.6
5.9
79.9
6.1
97.1
7.1
107.4
6.0
86.3
5.4
64.7
4.8
47.9
4.7
34.9
6.1
75.8
3.4
37.9
6.7
85.2
5.3
78.4
7.3
160.0
7.5
108.7
4.4
34.5
4.1
36.9
2.3
10.7
3.4
24.4
2.8
26.5
4.9
17.5
2.2
12.5
4.5
17.0
3.0
10.8
2.4
7.9
2.0
3.7
3.7
3.6
4.3
.4
4.1
1.4
4.6
1.0
.322
.318
.320
.321
.322
.330
.342
.359
.376
.394
.398
117.7
147.7
153.0
137.4
170.9
181.5
168.8
181.2
202.1
211.2
192.2
216.2
217.4
8.9
2.2
453.6
321.7
132.0
1.2
3.4
2.1
361.8
246.2
115.6
7.3
2.7
5.4
263.0
166.4
96.6
7.7
7.5
1.18
1.17
1.18
1.18
1.25
1.25
1.32
1.32
1.32
1.32
1.43
1.42
1.57
1.56
1.54
1.53
1.60
1.59
1.62
1.61
102.5
92.0
104.6
92.0
1.55
1.57
1.57
1.57
1.57
1.56
1.63
1.65
mil. l b . . 1,255. 9
Production, case goodscf
do
do
-do -. 8118,532
do
60,363
5.87
$ per 100 lb._
Dry milk:
Production:
79.4
7 77.8
Dry whole milk
mil. lb._
1,417.6 1,269.3
Nonfat dry milk (human food)
do
Stocks, manufacturers', end of period:
3.4
4.0
"Orv wViolp millc
do
«77.0
Nonfat dry milk (human food)
do
37.9
Exports:
38.3
25.0
Dry whole milk
do
164.1
7124.2
Nonfat dry milk (human food)
do
Price, manufacturers' average selling, nonfat dry
.331
.307
milk (human food)
$ per l b -
(0
4.0
GRAIN AND GRAIN PRODUCTS
Exports (barley, corn, oats rye, wheat),..mil. bu.. 71,204.5 * 1,789.3
Barley:
Production (crop estimate)
Shocks (domestic), end of period
On farms
Exports including malt§
Prices, wholesale (Minneapolis):
No. 2, malting
.
.
No 3 straight
do
do
do
do
- - $ per bu_.
do
Corn:
Production (crop estimate, grain only)..mil. bu..
Off fflrm*?
do
Exports, including meal and
flour
do
Prices, wholesale:
No. 3, yellow (Chicago).
. . $perbu._
Weighted avg., 5 markets, all grades
do
Oats:
Stocks (domestic), end of period, total
On farms
0 ff farms
2 463.6
392.4
255.5
136 9
7 53.2
1.21
1.20
1.23
1.23
3
3.1
17.7
1.16
1.16
1.18
1.18
174. 8
3107. 0
3 67.8
11.6
1.20
1.21
2 5,641
4,700
3,551
1,149
7 511.7
2 5, 553
4,815
3,674
1,141
886.2
62.0
63.0
65.2
1.39
U.36
1.30
1.26
1.26
1.23
1.29
1.23
1.27
1.20
2
do
do
do
2 423. 5
361.8
246.2
115 6
60.6
3
2,176
1,592
63.9
97.1
1,126
3
751
3
375
108.7
1.22
1.30
1.21
1.36
1.28
584
881
943
693
2 695
780
559
251
220
7.1
25.2
s.75
e.85
285.8
2 85.2
2,004
1,446
1,774
1,266
106
119
65
68
98
86
120
5,567
4,206
7,472
5,133
1,737
3,252
'541
3
336
3
205
79.8
91.0
4,815
3,674
1,141
84.2
1.31
1.28
1.31
1.30
1.53
1.54
3,329
2,375
954
206
220
249
2.01
2.02
586
380
780
559
932
683
1.64
1.64
2.6
.4
.4
.80
.79
.82
164
297
328
82
174
102
272
259
112
46
71
186
252
282
120
112
215
83
97
182
141
311
130
165
116
104
46
117
114
86
135
120
174
80
285
430
197
466
51
396
208
245
1,128
332
1,814
456
1,728
528
645
503
270
453
57
313
1,078
803
338
491
532
395
541
858
360
1,643
2,275
2,217
1,967
124
384
1,429
90
367
1,967
4,447
1,138
242
313
444
252
438
1,713
407
329
299
478
876
423
.087
.098
.089
.091
.091
.091
.091
.100
.105
.125
.125
.129
.129
.129
.153
.153
Rye:
Production (crop estimate)
mil bu
Stocks (domestic), end of period
do
Price, wholesale, No. 2 (Minneapolis)..? per bu-.
2 49.3
54.6
1.06
2 29.5
54.1
1.07
1.06
45.6
1.02
1.01
1.00
62.6
1.02
1.08
1.15
54.1
1.18
1.17
1.20
49.1
1.12
1.18
1.27
Wheat:
Production (crop estimate), total
Spring wheat
Winter wheat
Distribution
21,618
2 474
21,144
1,482
21, 545
2 359
2 1,186
1,700
Exports, including oatmeal
_ do
Price, wholesale, No. 2, white (Chicago)
$ per bu—
Rice:
Production (crop estimate)
mil. bags9..
California mills:
Receipts, domestic, rough
_
mil. lb
Shipments from mills, milled rice
do
Stocks, rough and cleaned (cleaned basis), end
of period _
.
mil. lb
Southern States mills (Ark., La., Tenn., Tex.):
Receipts, rough, from producers
mil. l b . .
Shipments from mills, milled rice
do. . .
Stocks, domestic, rough and cleaned (cleaned
basis), end of period
mil. lb..
Exports
. . .
. do .
Price, wholesale, Nato, No. 2 (New Orleans)
$perlb._
mil bu
do
do
do
3.5
3.4
1.9
242
1
3
1.09
.6
.7
.7
.5
.5
.9
1.00
10
543
M70
473
863
355
508
2
'Revised.
» Preliminary. 1 Less than 50 thousand pounds.
Crop estimate for the year.
3
Previous years' crop; new crop not reported until beginning of new crop year (July for
barley, oats, rye, and wheat; Oct. for corn).
* Effective May 1971, weighted average, 4
markets, all grades.
« Average for Jan.-April, June-Oct., and Dec.
« Average for JulySept., and Dec.
• Annual total reflects revisions not distributed to the months.
1,866
1,396
725
507
889
923
316
607
. do. .
do
do
1,547
1,396
694
853
507
889
1.03
.95
348
Stocks (domestic), end of period, total
On farms
Off farms
4.0
3
3
3
1,316
1,141
« Monthly revisions for 1970 and 1971 will be shown later.
• Effective May 1972, price is
10
for No. 2 (Southwest Louisiana).
June 1 estimate of 1973 crop.
cf Condensed milk included with evaporated to avoid disclosing operations of individual
firms.
§Excludes pearl barley.
9 Bags of 100 lbs.
SURVEY OF CURRENT BUSINESS
S-28
Unless otherwise stated in footnotes below, data
through 1970 and descriptive notes are as shown
In the 1971 edition of BUSINESS STATISTICS
1971
1972
1972
Annual
June 1973
Apr.
May
June
July
Aug.
1973
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
FOOD AND KINDRED PRODUCTS; TOBACCO—Continued
GRAIN AND GRAIN PRODUCTS—Con.
Wheat—Continued
Exports total including
Wheot 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
627.1
588.3
i 817. 0
i 778. 5
1.77
1.60
1.72
1.86
1.86
2 1.87
2
2
49.1
47.3
65.0
59.6
72.7
66.9
62.1
58.8
71.2
69.1
71.2
69.0
85.0
82.6
87.4
83.5
109.7
107.3
105.5
101.9
94 3
92.9
101.9
98.1
111 4
108 8
1.66
1.63
1.69
1.69
1.64
1.71
1.61
1.53
1.66
1.69
1.61
1.69
1.91
1.86
1.88
2.03
2.10
2.05
2.12
2.18
2.12
2.23
2.29
2.20
2.42
2.60
2.42
2.42
2.67
2.46
2.28
2.48
2.36
2.32
2.50
2.40
2.39
2.65
2.46
21,083
359
46,897
21,133
363
47,174
19,811
343
44,155
21,293 21,347
369
369
47,459 '47,713
22,493
384
'50,121
21,072
361
46,822
20,799
358
46,380
21,346
375
47,529
2,300
4,379
2,494
1,381
930
4 886
965
1,049
1,665
4,746
1,049
1 553
611
5 581
' 1 626
1 134
5.925
5.338
5.950
5.338
6.025
5.463
6.525
6.163
6.888
6.363
6.850
6.413
6,938
6.500
7.625
7.500
7.613
7.375
7.138
6.813
7.263
6.875
7.325
7.163
Wheat flour:
Production:
19,654
Flour
thous. sacks (100 lb.)._ 249,810 250,441
4,279
338
4,303
Offal
thous. sh. tons..
555,092 '557, 801 '43,792
Grindings of wheat
thous. bu
Stocks held by mills, end of period
4,362
4,746
thous sacks (100 lb.)
757
16,637
16, 549
Exports
do
Prices, wholesale:
Spring, standard patent (Minneapolis)
5.913
6.534
$ per 100 lb_. 6.145
5.446
5.338
Winter, hard, 95% patent (Kans. City)._do
5.867
20,023 '21,051
346
'358
44,475 '46,777
2.61
2.64
2 62
19,310
327
42,792
7.313
7.038
LIVESTOCK
Cattle and calves:
Slaughter (federally inspected):
Calves
thous. animals
Cattle
do
Prices, wholesale:
Beef steers (Omaha)
$ per 100 l b . .
Steers, stockerand feeder (Kansas City), do
Calves, vealers (Natl. Stockyards, 111.)--do
Hogs:
Slaughter (federally inspected)...thous. animals..
Wholesale, average, all grades (Sioux City)
$ per 100 1b..
Hog-corn price ratio (bu. of corn equal in value
to 100 lb. live hog) Sheep and lambs:
Slaughter (federally inspected)., thous. animals..
Price, wholesale, lambs, average (Omaha)
$per 1001b..
2,807
31,419
2,421
32,266
185
2,471
179
2,807
166
2,833
164
2,494
208
2,925
197
2,789
211
2,909
209
2,705
202
2,615
209
2,807
169
2,422
188
2,618
139
2,167
32.03
32.09
38.58
35.48
38.89
46.88
34.20
36.93
46.90
35.29
37.72
46.50
37.48
38.37
47.00
37.65
38.81
47.00
35.18
38.20
48.10
34.69
41.29
49.00
34.68
40.87
49.00
33.38
40.66
49.00
36.58
42.61
49.00
40.25
44.25
49.00
42.76
48.06
54.00
44.98
50.90
56.00
44.61
50.67
57.80
86,667
78,759
6,733
6,793
6,313
5,276
6,512
6,420
7,048
6,988
6,197
6,641
5,712
6,652
5,992
18.41
25.97
22.62
24.76
25.71
27.24
27.87
28.41
27.37
26.91
29.33
31.28
35.47
37.62
35.12
35.92
'14.0
'22.1
19.9
21.7
' 22.7
24 1
24.3
23.0
r 23 o
22.3
20 8
22.3
28 0
24 7
21 9
25 3
45.83
50.79
57.50
10,256
9,905
786
803
807
737
840
866
937
828
751
835
700
710
690
27.43
30.13
31.00
33.75
34.00
32.88
31.25
30.00
26.75
27.00
29.25
33.62
39.25
40.75
34.50
36,209
' 35, 624
'2,859
3,096
2,996
2,577
3,080
2,966
3,228
3,130
2,893
3,077
2,658
2,911
2,511
594
47
206
642
67
202
702
57
174
670
57
138
680
48
165
661
52
148
'687
81
133
'706
75
149
1,801
395
5
121
1,552
383
4
108
1,645
369
6
94
1,363
374
5
104
412
36.25
MEATS AND LARD
Total meats:
Production (carcass weight, leaf lard in), inspected
slaughter
.mil. l b . .
Stocks (excluding lard), cold storage, end of
period . . .
mil. lb
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 lbs.) (New York)
$perlb_.
Lamb and mutton:
Production, inspected slaughter
Stocks, cold storage, end of period __ _
Pork (including
slaughter _
lard),
_.
production,
mil. lb__
.do
Inspected
mil. lb
796
1547
i 1,789
670
614
2,012
819
45
159
798
64
161
710
58
152
638
48
166
599
49
216
19,697
375
44
1 1,265
' 20, 523
380
54
1,461
'1,675
292
5
106
1,783
285
5
111
1,762
265
4
115
1,561
269
1,847
294
1,760
308
1,876
337
1,761
363
119
168
169
156
131
1,693
380
6
101
.547
3 577
.657
.585
.612
.610
.568
.553
.548
.533
.690
.645
.690
.712
.719
.710
522
19
514
16
42
15
42
20
40
19
36
21
42
21
43
19
49
18
44
17
40
16
45
13
38
11
39
'11
38
13
14
15, 989
14, 589
1,242
1,270
1,193
980
1,192
1,163
1,304
1,325
1,160
1,232
1,068
1,227
1,110
12, 546
214
105
395
1,060
396
10
34
1,079
381
19
28
1,012
320
14
25
839
231
6
32
1,023
204
5
29
1,011
192
8
24
1,132
209
17
35
1,144
242
7
35
1,015
214
7
31
1,077
207
6
34
938
204
12
30
1,074
' 242
33
29
976
248
31
37
254
.626
.645
.617
.548
.588
.614
.604
.694
.605
.699
.581
.654
.594
.668
.641
.682
.703
.644
.752
.720
.730
.768
.705
.799
.798
.756
.764
.737
.722
.737
1,830
100
282
.147
1,465
51
164
.148
132
81
g
.144
139
90
12
.144
131
83
13
.144
102
64
13
.144
121
52
6
.147
108
44
14
.149
123
44
12
.153
130
58
32
.164
103
51
4
.157
111
52
19
.156
92
44
5
.178
109
50
7
.205
95
10,357
10,883
754
881
961
918
1,113
981
1,091
977
833
855
721
781
725
378
223
324
208
237
121
216
111
249
143
320
213
422
314
521
408
590
473
413
297
324
208
294
187
251
153
'204
'116
'179
90
17;
87
.128
.132
.120
.125
.135
.150
.140
.145
.135
.120
.130
.155
.190
.235
.255
.220
Pork (excluding lard):
113,452
Production, inspected slaughter
do
330
Stocks, cold storage, end of period _
.do
72
Exports
.
do
Imports
do
357
Prices, wholesale:
Hams, smoked composite
$ per lb_.
.534
Fresh loins, 8-14 lb. average (New York)..do
.498
Lard:
Production, inspected slaughter
mil. lb._
Stocks, dry and cold storage, end of period..do
Exports
do
Price, wholesale, refined (Chicago)
$ per l b . .
11
.203
698
.215
POULTRY AND EGGS
Slaughter (commercial production)
mil. lb_.
Stocks, cold storage (frozen), end of period, total
mil. lb_.
Turkeys
do
Price, in Georgia producing area, live broilers
$ per l b . .
«• Revised.
1
Annual total reflects revisions not distributed to the months.
2 Effective May 1971, data are for 5 markets; beginning April 1972, for 4 markets.
3 Beginning Jan. 1972, price for East Coast (New York and Philadelphia average).
June 1973
>1JNEJ
SURVEY OF CURRENT
Unless otherwise stated in footnotes below, data
through 1970 and descriptive notes are as shown
in the 1971 edition of BUSINESS STATISTICS
1971
1972
1972
Apr.
Annual
S-29
May
June
July
Aug.
1973
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
FOOD AND KINDRED PRODUCTS; TOBACCO—Continued
POULTRY AND EGGS—Continued
Eggs:
Production on farms
mil. cases©..
Stocks, cold storage, end of period:
Shell
thous. cases©.
Frozen
mil. lb
Price, wholesale, large (delivered; Chicago)
$per doz._
194.9
193.1
16.4
16.6
15.8
16.1
16.0
15.3
15.8
15.3
15.9
15.8
14.4
16.1
15.7
16.0
60
41
101
191
229
234
200
247
173
85
41
116
'97
'37
68
75
80
85
88
88
84
80
76
68
47
74
58
87
53
'49
'46
47
.332
.338
.295
.280
294
.330
.327
.373
.344
.402
.498
.526
.431
.499
.500
.486
Cocoa (cacao) beans:
Imports (incl. shells)
thous. lg. tons
Price, wholesale, Accra (New York)
$ per tb._
315.8
.268
282.2
.322
28.8
.285
24.4
.304
25.6
.315
17.5
.320
13.4
.341
6.8
.360
13.1
.385
10.0
.376
36.1
.384
38.1
.369
34.2
.389
27.7
.414
29.0
.525
.614
Coffee (green):
Inventories (roasters', importers', dealers'), end
of period
thous bagstf1
Roastings (green weight)
do
4,000
19,607
' 3,663
20,075
Imports, total
do
From Brazil
do
Price, wholesale, Santos, No. 4 (N.Y.)~$ per lb_.
Confectionery, manufacturers' sales
mil. $._
21,669
5,991
2.461
2,002
20,757
6,152
3.544
1,976
1,146
286
.463
133
415
212
4,585
6,601
1,230
4,938
6,700
1,262
147
612
92
11, 439
11, 288
2,687
11, 531
11,420
2,757
802
968
2,874
481
778
5,262
1,544
48
MISCELLANEOUS FOOD PRODUCTS
Exports, raw and refined
Imports:
Raw sugar, total9
From the Philippines
Refined sugar, total
3,663
5,127
3,871
5,230
1,452
1,434
1,947
2,149
2,057
1,643
1,288
1,996
437
443
333
430
319
110
.625
177
.590
221
.580
195
.560
199
.570
172
696
.485
134
969
454
.480
137
383
240
251
352
398
419
416
147
740
131
90
574
187
121
488
122
130
617
90
188
542
160
783
481
179
1,028
391
30
978
1,096
1,088
2,343
1,106
1,099
1,204
849
2,032
1,167
1,155
1,532
853
2,672
1,638
63
27
46
38
55
100
5,154
1,246
76
436
58
6
308
24
5
627
160
2
411
54
4
579
217
1
.085
.091
.090
.088
.088
.091
.695
.117
.704
.123
.711
.124
.709
.124
.692
.124
.692
.124
thous. lb._ 175,432
151,495
10,165
12,885
16,563
3,515.0
127.6
3,532. 5
127.3
278.1
136.0
291.4
130.6
3,500.0
76.1
3, 904.3
85.5
321.3
145.8
2,290.0
57.1
2,361. 2
69.3
.308
do
do
do
302
--thous. sh. tons
do
_
do
290
415
.570
'184
382
1,844
250
.620
'172
344
397
379
49
2,101
2,040
266
321
.655
183
.650
298
.650
P261
996
396
43
650
547
55
2,217
1,043
1,035
2,757
2,941
67
61
104
35
1,454
64
134
401
187
3
352
45
35
317
117
2
381
143
5
435
104
1
288
47
5
441
127
3
475
139
2
.094
.094
.094
.090
.092
.094
.092
.094
.097
.100
.695
.124
.699
.124
.704
.124
.711
.122
.713
.122
.713
.122
.725
.132
.734
.132
.736
.133
.127
10,835
11,581
12,830
14,348
11,460
10,731
15,481
14,295
15,399
14,107
290.5
137.7
258.5
120.8
314.9
114.2
295.6
120.8
329.2
118.7
316.1
127.8
288.5
127.3
295.5
140.5
275.5 ' 317. 6
128.8 ' 125.1
275.8
137.4
359.9
106.1
355.0
99.6
307.1
89.9
344.7
88.2
307.8
78.2
320.2
84.5
307.4
91.9
317.0
85.5
320.6
92.9
314.1 ' 367. 9
88.8 ' 8 8 . 8
304.8
92.7
181.3
82.6
186.3
83.9
186.1
67.1
164.2
68.4
194.5
71.0
197.1
68.9
203.5
69.8
215.8
67.7
228.4
69.3
232.5
80.6
191.5 ' 198. 4
80.2 ' 7 0 . 1
184.3
66.6
.313
.313
.313
.313
.313
.313
.313
.313
.313
.313
.313
.313
.313
.317
541.6
598.6
41.3
547.6
633.6
45.3
41.4
53.0
36.4
46.3
51.8
43.7
44.7
50.7
44.1
40.2
46.0
43.1
47.6
57.8
36.7
46.2
53.9
35.7
52.9
59.1
37.2
51.5
53.9
38.3
48.1
47.3
45.3
44.4
54.1
50.8
34.2
54.3
43.9
'40.5
'61.8
31.8
32.6
45.4
28.3
4,967.7
2,622.7
379.7
4, 850. 9
2,761.6
341.3
390.3
227.7
366.6
425.8
241.5
350.5
414.2
251.6
355.4
360.4
201.0
339.1
408.2
241.8
318.5
394.0
236.7
329.1
423.6
240.3
316.7
424.9
222.5
311.5
404.2
204.5
341.3
408.1
232.6
343.0
341.1 ' 365. 5
205.7 ' 234. 7
392.0 '363.7
309.6
204.0
333.9
57.1
41.9
3.0
3.1
2.9
4.3
4.6
3.3
3.5
3.3
3.2
3.7
2.0
1.8
1.8
553.3
740.4
191.1
628.6
593.0
824.9
229.1
677.0
51.2
69.7
162.9
27.3
(d)
65.0
73.0
174.6
70.4
53.9
76.5
179.3
58.2
41.1
65.3
169.4
53.1
48.3
75.1
127.8
47.0
50.6
71.4
126.5
31.7
54.2
69.7
182.1
67.0
44.9
66.5
229.1
50.4
58.7
80.5
232.5
69.8
(")
50.1
69.4
240.4
112.5
56.5
'79.4
' 218. 8
70.9
54.2
71.4
180.7
36.7
sh. tons
Prices (New York):
Raw, wholesale
..$ per lb..
RefinedRetail (Incl. N.E. New Jersey)....$ per 5 lb..
Wholesale (excl. excise tax).
$perlb._
Tea, imports
3 852
4 660
1,784
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
3,506
4,972
1
811
1,001
992
865
855
787
780
305
536
90
617
120
743
1,058
738
1,049
3,038 ' 2,777 *2,636
FATS, OILS, AND RELATED PRODUCTS
Baking or frying fats (incl. shortening):
Production
mil. lb,.
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_.
Consumption 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 t
do
Fish and marine mammal oils:
Consumption in end products
. do
Vegetable oils and related products:
Coconut oil:
Production: Crude
mil. lb
Refined
do
Consumption in end products
do
Stocks, crude and ref., end of period^
do
Imports
do
Corn oil:
Production: Crude
do
Refined
do
Consumption in end products
do
Stocks, crude and ref., end of period^
do
45.7
46.1
507.2
40.0
34.6
36.4
43.6
464.5
41.2
35.4
463.7
32.3
81.1
81.4
71.8
72.1
d
' Revised.
v Preliminary.
Data withheld to avoid disclosure
of operations of in2
dividual
firms. » Reflects revisions not available by months.
Average for Jan.-Nov.
8
Average for Apr.-June and Aug.-Dec.
485.1
440.3
446.3
57.0
00
48.0
70.9
186.1
37.3
.324
41.7
'46.3 ' 4 0 . 2
40.1
43.3
43.5
43.2
44.1
40.3
42.6
34.0
38.2
40.4
43.0
42.8
38.1
45.3
34.7 ' 5 1 . 2
39.5
45.5
40.2
39.7
38.0
41.6
41.6
36.6
41.3
39.6
41.1
66.7
78.3
65.9
72.7
69.7
74.6
69.8
73.3
67.2
71.8
O Cases of 30 dozen.
cfBags of 132.276 lb.
§Monthly data reflect cumulative revisions
for prior periods.
9 Includes data not shown separately: see also note " §".
A For data
on lard, see p. S-28.
©Producers' and warehouse stocks.
^Factory and warehouse
stocks.
BUSINESS
SURVEY OF
S-30
Unless otherwise stated in footnotes below, data
through 1970 and descriptive notes are as shown
in the 1971 edition of BUSINESS STATISTICS
1972
1971 | 1972
Apr.
Annual
June 1973
May
June
July
Aug.
1973
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
FOOD AND KINDRED PRODUCTS; TOBACCO—Continued
FATS, OILS, AND RELATED
PRODUCTS-Continued
Vegetable oils and related products—Continued
Cottonseed cake and meal:
Production
thous. sh. tons.. 1,720.6 1,923.8
93.1
50.0
Stocks (at oil mills), end of period
do
Cottonseed oil:
Production: Crude
mil. lb_. 1,209. 4 1,355.2
985. 7 1,133.4
Refined
do....
728.5
734.8
Consumption in end products
do
Stocks, crude and refined (factory and ware188.3
187.4
house), end of period
mil. lb__
2 400.7
475.4
Exports (crude and refined)
do
.159
.190
Price, wholesale (N.Y.)
$perlb__
Linseed oil:
Production, crude (raw)
mil. lb__
Consumption in end products
do
Stocks, crude and refined (factory and warehouse), end of period
mil. l b . .
Price, wholesale (Minneapolis)
__$ per lb._
155.9
145.8
132.4
159.4
101.8
137.5
76.6
102.6
87.2
67.7
78.4
32.9
200.4
37.5
242.4
44.5
228.4
50.0
238.7
48.7
218.0
51.7
'236.8
'73.2
208.9
100.5
110.2
98.3
48.9
97.7
98.2
63.5
75.8
88.8
63.2
54.4
61.3
55.5
61.2
74.6
71.9
53.4
41.8
53.7
139.3
95.4
69.1
165. 5
121.9
74.4
157.3
140.1
65.0
163.3
124.9
61.2
152.0
135.0
55.4
' 163.4
140.7
'88.4
141.4
128.9
74.0
294.8
47.8
.168
266.0
30.6
.168
239.7
49.7
.168
203.9
33.5
.168
137.9
58.3
.150
114.2
13.0
.147
142.5
18.9
.150
161.5
70.6
.139
187.4
32.2
.141
215.4
57.9
.141
239.1
56.6
.166
' 212.7
78.7
.185
221.3
40.7
.190
34.0
21.7
258.4
35.0
18.5
28.2
17.1
31.3
15.8
25.1
14.5
'26.5
'18.7
28.5
17.3
246.3
.095
253.6
.095
225.3
.095
224.1
.095
'177.3
.095
153.2
.095
412.2
213.6
439.7
243.7
36.1
19.7
33.2
22.5
39.0
24.3
33.2
21.9
40.4
23.2
41.1
20.9
224.8
253.6
.092
280.9
.088
275.3
276. 6
.095
263.8
.095
253.3
.095
259.2
.095
Soybean cake and meal:
Production
thous. sh. tons.. 17,104.2
119.8
Stocks (at oil mills), end of period
do
Soybean oil:
Production: Crude
mil. lb_. 8,081.5
6,298. 0
Refined
do
6,322.9
Consumption in end products
do
Stocks, crude and refined (factory and warehouse), end of period
mil. lb._ 802.2
U,611.7
Exports (crude and refined).
do
.151
Price, wholesale (refined; N.Y.)
$ per lb._
16,993.1 1,346.5
198.9
180.5
1,439.8 1,308.8
162.6
158.1
.210
.095
1,338.9 1,335 4 1,198 5 1,519.2 1,612.0 1,571.5 1,611.9 1,479.7 '1,461.6 1,323.5
174.6
150.6
148.3
180.5
162.3
177.8 • 1 6 7 . 1 169.6
205.9
133.7
8,083.7
6,464.0
6,748.7
646.7
534.4
545.4
556.6
580.6
635.4
534.4
565.8
648.6
479.1
497.1
645.7
550.4
571.6
581.0
528.1
560.6
713.3
561.1
595.1
742.4
558.0
584.7
716.6
553.9
588.1
723.5
570.1
589.2
676.8
519.4
538.9
896.5
1,148.7
.131
952.7
69.3
.143
945.0
89.0
.138
829.7
263.3
.136
854.1
94.1
.126
841.6
57.5
.128
785.2
68.3
.125
806.2
58.4
.120
839.1
109.7
.117
896.5
50.7
.124
948.6
52.7
.117
Leaf:
1
Production (crop estimate)
___•
mil. lb._ 1 1,705
1,751
Stocks. dealers' and manufacturers' end of period
4,828
mil. lb__
4,700
Exports, incl. scrap and stems
thous. Re- 2474,209 606,176
2 248,529 240,509
imports, incl. scrap and stems
do
17,856
17,510
42,665
21,908
4,186
33,348
18,281
39,164
16,112
40,455
23,934
48, 264 54,114
21,040 20,924
63,105
17,123
4,700
56,151
19,637
2,745
47,171
551,017 '42,580
'460
34,602
1,959
3,826
48,376
592
2.246
4,608
49,127
473
2,770
3,170
38,468
442
2,886
4,172
4,676
53,566 45,038
485
563
2,921
2,923
2,907
51,321
561
3,544
4,136
46,937
520
3,476
• 680.8
575.2
•589.0
617.3
512.3
519.8
966.5
120.9
.150
'920.5
132.3
.166
988.3
49.3
.174
43,050
21,516
45,276
24,416
4,460
45,597
20,052
43,573
20,904
4,079
36,762
344
4,070
48,230
464
2,343
4,917
45,576
402
3,546
5,219
49,346
463
3,834
4,821
44,693
485
4,226
1
.189
TOBACCO
Manufactured:
Consumption (withdrawals):
Cigarettes (small):
Tax-exempt
Taxable
Cigars (large), taxable
Exports, cigarettes
millions.. 49,206
..-.do
528,858
do
6,506
..do
31,802
4,405
LEATHER AND PRODUCTS
HIDES AND SKINS
Exports:
Value, total 9
__thous. $_. 155,821
Calf and kip skins
_.thous. skins..
2,222
Cattle hides
thous. hides.. 15,962
292,023
2,064
17,589
15,866
226
1,210
19,078
158
1,437
19,256
126
1,317
32,641
117
2,152
23,993
180
1,324
24,376
153
1,290
36,113
164
1,893
40,816
156
1,733
37,255
172
1,524
35,887
223
1,461
45,483
177
1,837
44,199
200
1,802
30,863
131
1,340
52,100
19,283
1,956
65,200
16,852
3,355
5,800
2,139
275
7,500
2,641
356
5,900
1,245
415
5,800
1,627
198
5,700
1,393
268
4,400
1,075
206
5,700
704
425
4,200
326
159
3,800
405
165
7,000
910
256
7,500
1,437
253
9,700
1,883
152
9,400
1,547
237
$ per lb_.
do
.294
.145
.575
.255
.575
.280
.560
.293
.560
.293
.650
.340
.650
.405
.650
.430
.660
.320
.660
.340
.660
.335
.660
.296
.610
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___.
1,621
20,477
3,148
21,385
' 1,603
' 20,084
3,522
20,191
147
1,788
242
1,725
173
1,881
340
1,876
153
1,818
419
1,867
1,220
219
1,389
148
• 1,804
334
1,869
'133
118
1,693 '1,712
309
292
1,545
1,663
'143
1,546
291
1,727
106
1,387
330
1,514
114
1,504
278
1,312
1,446
215
1, 268
99
1,637
246
1,422
77
1,551
251
1,374
Exports:
Upper and lining leather....
82,944 '117,556
9,485
11,487
10,360
8,406
10,935
11.413
10,323
8,223
8,746
7,872
'9,254
11,311
114.4
3 157.5
152.5
152.5
152.5
152.5
194.2
194.2
194.2
194.2
194.2
194.2
194.2
81.8
106.7
104.6
106.4
106.4
109.0
117.9
117.9
117.9
117.9
117.9
117.9
124.2
535,777
525,665
44,142
45,169
425,875
98,147
8,440
3,315
417,604
98, 272
8,726
2,053
35,982
195
Imports:
Value, total 9
Sheep and lamb skins
Goat and kid skins____.._-
thous. $..
thous. pieces...
do
Prices, wholesale, f.o.b. shipping point:
Calfskins, packer, heavy, 9J4/15 lb
Hides, steer, heavy, native, over 53 lb
..thous. sq. ft.
Prices, wholesale, f.o.b. tannery:
Sole, bends, light
index, 1967=100.
Upper, chrome calf, B and C grades
index, 1967=100.
LEATHER MANUFACTURES
Shoes and slippers:
Production, total...
thous. pairs.
Shoes, sandals, and play shoes, except athletic
thous. pairs.
Slippers
do
Athletic
do....
Other footwear
do
Exports
-.-._..
.
46, 224
46,246
44,243
36,823
8,463
736
202
30,117 36,546 33,749
9,760 9,526
5,450
409
729
772
113
211
196
142
148
142
117.5
128.6
125.5
128.3
130.1
120.1
121.2
125.6
4
127.0
124.1
127.4
125.3
130.4
125.3
130.4
2,106
Prices, wholesale, f.o.b. factory:
Men's and boys' oxfords, dress, elk or side
upper, Goodyear welt
index, 1967=100.
Women's oxfords, elk side upper, Goodyear
welt
index, 1967=100.
Women's pumps, low-medium quality.__do
a
' Revised.
i Crop estimate for the year.
2 Annual total reflects revisions not distributed to the monthly data.
s Average for Jan.-July and Oct.-Dec.
115.3
2,253
do....
11,781
111.7
35,631
8,656
723
159
7,292
726
97
161
41,056
38,547
42,574
41,555
46,495
34,615
10,818
810
155
30,663
9,305
861
227
31,298
6,364
705
180
34,301
7,249
861
163
33,265
7,343
802
145
36,761
8,701
884
149
231
220
190
226
254
.610
.363
194.2
264
222
206
218
131.4
131.4
131.4
131.4
135.0
135.0
135.0
138.9
138.9
140.1
140.1
127.9
130.4
127.9
130.4
127.9
127.9
129.2
129.2
129.2
131.2
131.2
135.5
135.5
* Jan.-Aug. average.
9 Includes data for items not shown separately.
c
Corrected.
SURVEY OF CURRENT BUSINESS
June 1973
1971
Unless otherwise stated in footnotes below, data
through 1970 and descriptive notes are as shown
in the 1971 edition of BUSINESS STATISTICS
1972
1972
Apr.
Annual
S-31
May
June
July
Aug.
1973
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
LUMBER AND PRODUCTS
LUMBER—ALL T Y P E S 9
National Forest Products Association:
Production, total
mil. bd. ft.
Hardwoods
_do...
Softwoods.
—_•_ _do__Shipments, total
Hardwoods..
Softwoods
._-do_.
___do_.
do..
Stocks (gross), mill, end of period, total
Hardwoods
Softwoods
Exports, total sawmill products.
Imports, total sawmill products
138,725
7,152
31,573
3,272
562
2,710
3,420
555
2,865
3,301
550
2,752
3,102
542
2,561
3,417
600
2,817
3,303
595
2,708
3,528
627
2,901
3,193
615
2,578
2,664
430
2,234
3,012
535
2,477
3,074
545
2,529
567
2,890
3,276
510
2,763
i37,769 139,917
7,455
7,638
30,314 32,279
3,422
622
2,800
3,628
606
3,022
3,429
567
2,862
3,236
588
2,648
3,468
609
2,859
3,387
630
2,757
3,520
627
3,203
615
2,588
2,776
479
2,297
3,153
678
2,475
3,102
606
2,496
3,474
642
2,832
620
2,766
222
3,674
6,949
29,744
do_.
do_.
do_.
5,288
999
4,289
4,095
512
4,704
603
4,101
3,944
553
3,944
4,368
535
3,834
4,236
489
3,747
4,184
479
3,705
4,097
441
3,656
4,149
441
3,708
4,094
438
3,656
4,095
512
3,583
3,954
3,926
307
3,619
3,802
224
3,677
do
do.
1,081
7,599
1,390
9,428
120
745
126
127
761
170
132
129
820
139
815
104
103
125
935
130
760
176
194
837
8,507
566
9,210
763
700
777
563
844
645
735
622
718
597
700
773
704
597
634
759
720
717
783
753
731
752
929
810
914
825
722
762
785
738
758
765
707
743
729
852
9,137
776
769
752
735
743
744
546
592
743
710
731
691
776
864
774
877
807
846
814
804
856
44
14
40
9
31
35
12
24
37
24
28
34
17
18
35
4
31
46
16
31
45
14
31
53
6
47
76
27
49
SOFTWOODS
Douglas fir:
Orders, new..
Orders, unfilled, end of period
mil. bd. ft._
do_
Production.
_
Shipments
-_Stocks (gross), mill, end of period
8,283
do.
_______ -do.
do
745
329
88
240
405
111
294
Prices, wholesale:
Dimension, construction, dried, 2" x 4", R. L.
$ per M bd. ft.. 2 117.68
144.27
137.42
141.64
143.55
149.32
149.72
150.30
150.70
151.28
151.28
152.46
168.46
193.96
197.22
7,942
421
i 8,539
435
793
515
767
494
821
499
788
510
824
508
510
794
504
634
435
677
472
703
536
763
561
644
525
7,734
7,894
18,337
18,525
770
795
776
788
816
744
777
802
826
770
796
815
800
706
494
710
716
693
640
640
639
731
738
643
680
1,216
1,028
1,123
1,111
1,098
1,065
1,041
1,015
1,030
1,024
1,028
1,047
1,048
1,041
1,004
M bd. ft__
64,923
64,456
7,366
5,285
3,912
4,760
5,044
4,852
7,728
4,429
6,618
4,877
4,715
6,508
10,020
Prices, wholesale, (indexes):
Boards, No. 2 and better, 1" x 6", R. L.
1967=100..
Flooring, B and better, F. G . 1 " x 4", S. L.
1967=100..
133.7
154.7
153.4
154.5
155.5
166.2
158.5
159.6
159.9
159.9
159.9
160.4
168.5
176.5
188.4
195.0
132.8
140.8
141.8
141.8
140.7
140.7
140.7
141.5
141.8
143.4
143.4
143.4
150.3
162.7
169.9
178.6
10,299
362
10,634
436
919
436
956
412
964
426
874
465
1,025
500
918
453
723
384
794
436
820
450
877
497
950
510
877
483
10,019
10,271
10,436
10,560
882
907
953
980
910
950
818
835
933
460
933
938
974
985
960
965
815
792
726
742
745
806
818
830
937
934
904
1,382
1,258
1,356
1,329
1,289
1,267
1,256
1,251
1,274
1,258
1,197
1,181
1,211
96.44
130.91
127.01
130.52
134.59
135.18
139.34
138.78
138.44
138.05
136.37
139.85
154.21
183.12
212.59
323.3
8.1
268.2
11.6
22.8
15.2
26.9
16.6
24.5
15.8
18.5
15.8
26.1
14.6
21.6
14.0
20.2
13.4
17.3
12.2
14.6
11.6
18.4
9.2
14.8
7.9
16.3
7.3
13.3
5.0
320.9
22.0
244.8
261.1
6.6
19.4
20.7
14.7
21.6
23.7
13.1
22.3
25.4
11.1
17.1
18.5
9.7
25.1
25.7
8.8
20.5
22.1
7.2
20.4
20.8
6.8
19.3
20.0
6.8
15.4
14.8
16.8
18.6
5.7
14.9
15.8
5.1
16.3
17.1
4.6
15.1
15.9
3.8
Exports, total sawmill products
Sawed timber
Boards, planks, scantlings, etc
do.
do_.
_._do
Southern pine:
Orders, new
Orders, unfilled, end of period
Production
Shipments
_
__
_.
.mil. bd. ft..
do—
1
.do—
do—
1
_
_
Stocks (gross), mill and concentration yards, end
of period
_.
mil. bd. ft_.
Exports, total sawmill products
Western pine:
Orders, new
Orders, unfilled, end of period
mil. bd. ft._
do
Production
Shipments
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
1,272
1,185
209.91
243.95
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
I R O N AND STEEL
Exports:
Steel mill products
thous. sh. t o n s . .
Scrap
do
Pig iron
__do
2,827
6,256
34
2,873
7,383
15
199
469
(3)
245
614
1
211
653
(3)
220
760
2
301
595
(3)
304
611
09
252
653
2
207
695
2
245
895
3
288
900
<3)
221
836
1
323
1,090
1
340
771
2
118,304
325
320
17,681
373
653
930
26
34
1,603
48
62
1,599
27
71
1,531
34
78
1,787
24
43
1,570
31
68
1,910
26
68
1,824
32
49
1,609
35
116
1,381
36
27
1,306
25
7
1,170
31
11
1,051
33
59
thous. sh. tons.. 49,169 *51,399
dp
133,987 pi 38,562
do
i 82,567 P 90,404
8,494 p 8,134
___do
4,480
3,415
7,942
8,293
4,545
3,477
8,062
8,230
4,342
3,301
7,509
8,373
3,905
2,659
6,374
8,642
4,334
3,087
7,279
8,792
4,336
3,142
7,591
8,644
4,542
3,480
8,149
8,593
4,342
3,351
7,877
8,390
4,408
3,187
7,848
8,134
4,731
3,459
8,381
7,878
4,465
3,328
7,866
7,918
«5,071
'3,899
'8,915
•• 7,973
*>3,690
*8,847
Imports:
Steel mill products
Scrap
Pigiron...
_do
do
__do
Iron and Steel Scrap
Production
Receipts, net
Consumption
Stocks, end of period
_
Prices, steel scrap, No. 1 heavy melting:
33.19
Composite (5 markets)
$ per lg. t o n . .
34.65
32.74
33.36
33.68
Pittsburgh district
do._,_
35.50
38.00
37.00
36.00
36.80
r
Revised.
v Preliminary.
A n n u a l date; monthly revisions are not available.
3 Beginning Jan. 1971, data reflect changes in size specifications, and are not comparable with
46.37
36.62
39.08
43.53 48.27
34.24
35.68
35.76
37.09
48.00
48.00
43.00
40.50
40.50
38.50
40.50
38.50
48.50
3
c
those for earlier periods.
Less than 500 tons.
Corrected.
9 Totals include data for types of lumber not shown separately.
P5,013
J»7,839
44.57
44.50
49.65
52.50
su KVE Y
S-32
Unless otherwise stated in footnotes below, data
through 1970 and descriptive notes are as shown
in the 1971 edition of BUSINESS STATISTICS
1971
Ob CU1IKEJN T
June 1973
1972
1972
Annual
BlJS1JN EISIS
Apr.
May
June
Aug.
July
1973
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
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...
1 80,762
1 77,692
40,124
75,910
78, 825
35, 761
5,933
2,972
1,775
7,677
9,302
3,357
7,448
9,240
4,191
7,101
9,442
3,336
7,!
10,535
4,141
7,985
9,277
3,257
6,536
9,062
3,695
5,569
7,677
4,501
5,553
5,883
2,75'
5,551
2,035
1,783
5,260
2,492
1,585
5,931
2,367
1,529
2,863
U.S. and foreign ores and ore agglomerates:
Receipts at iron and steel plants
do_
Consumption at i ron and steel plants
do,
Exports
do.
114,051
108, 966
3,061
112,305
119,937
2,095
5,069
10,482
56
12,069
10,802
94
12,676
9,901
239
12, 205
9,785
13, 581
9,933
329
12, 541
9,632
325
13,176
10,294
275
11,094
10, 205
91
9,
10, 729
213
4,018
11,156
84
4,561
10,423
46
4,334
11,542
65
9,058
11,404
215
dodo.
do
do-
78,815
17,653
57, 738
3,424
66,962
14, 289
50,061
2,612
65,554
29,414
34,999
1,141
65,138
27,790
36,247
1,101
25,952
39,022
1,324
66,697 67,669
23,645 21,022
41, 424 45,071
1,628
1,576
69,656
19,731
47,980
1,945
70,159
17,019
50,862
2,278
69,063
14,893
51,751
2,419
14, 289
50,061
2,612
63,232
17,973
42,923
2,336
59,565
20,626
37,061
1,878
55, 267
24,174
29,853
1,240
27, 582
1,228
do
1,019
949
65
52
72
78
97
90
74
50
106
72
52
101
88,952
88,191
1,656
7,726
7,629
1,666
8,012
7,965
1,676
7,427
7,374
1,688
7,321
7,153
1,827
7,385
7,362
1,841
7,116
7,175
1,787
7,606
7,684
1,745
7,475
7,438
1,711
7,960
7,
1,656
8,199
8,242
1,655
7,756
7,778
1,542
8,627
• 8, 762
• 1, 450
8,490
8,529
1,426
80.33
3 71.38
77.70
69.94
70.98
81.70
72.21
74.33
81.70
72.21
74.33
81.70
72. 21
81.70
72. 21
74.33
81.70
72.21
81.70
81.70
72.21
81.70
72.21
74.33
71.99
74.33
75.89
77.90
75.89
77.90
75.89
77.90
965
1,331
725
1,392
762
995
1,363
764
1,019
1,027
629
1,030
1,242
715
1,070
1,292
707
1,140
1,206
641
• 1, 245
1,425
'709
1,237
1,362
690
1,294
1,544
787
'52
110
87
52
113
95
57
12, 789
' 122.3
13,156
p 121.8
Stocks, total, end of period
At mines
At furnace yards
At U.S. docks
Manganese (mn. content), general imports
Pig Iron and Iron Products
Pig iron:
Production (excluding production of ferroalloys)
thous. sh. tons..- 81, 299
1
81,178
Consumption
do.
1
1, 779
Stocks, end of period
do.
Prices:
Composite.
$ per lg. ton
76.03
Basic (furnace)U
$ per sh. ton.. 67.70
Foundry, No. 2, Northern^
do
68.75
Castings, gray iron:
Orders, unfilled, for sale, end of period
thous. sh. tons_835
Shipments, total
do
13,839
For sale
do.. I
7,606
Castings, malleable iron:
Orders, unfilled, for sale, end of period
thous. sh.tons
Shipments, total
do.__
506
For sale
do___~
Steel, Raw and Semifinished
1,140
15,320
8,293
Bars and tool steel, total
Bars: Hot rolled (incl. light shapes)
Reinforcing
Cold
finished
_
Pipe and tubing
Wire and wire products
I__
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
do
do"
do
do
do I
do .
do _
do
do """
do"""
do
" - _ do
do
do
Rail transportation
do
Machinery, industrial equip., tools"""""do
Containers, packaging, ship, materials., do
Other
'do"""~
Steel mill products, inventories, end of period:
Consumers'(manufacturers only)..mil. sh. tons
Receipts during period
do "
Consumption during period
do
Service centers (warehouses)..,
do
Producing mills:
In process (ingots, semifinished, etc.)
do...
Finished (sheets, plates, bars, pipe, etc.).do....
1,093
1,415
771
1,102
1,319
692
578
Steel (raw):
Production
thous. sh. tons.. 120,443 '133,241
Index
daily average 1967=100..
94.7
104.5
Steel castings:
Orders, unfilled, for sale, end of period
281
318
thous. sh. tons__
1,589
1,609
Shipments, total
do
1,295
1,321
For sale, total
do.
Steel Mill Products
Steel products, net shipments:
Total (all grades)
thous. sh. tons
» 87,038
By product:
Semifinished products
do
4,962
Structural shapes (heavy), steel piling
do "
5,666
Plates
_____ " ~ d o " ~
7,939
Rails and accessories
dol
1,564
74.33
()
71.99
11,588
110.8
11,937
110.5
10,980
105.0
10,341
95.7
10,842
100.4
10,913
104.4
11,657
107.9
11,398
109.0
11,878
109.9
12,373
114.5
11,626
119.1
13,088
121.1
298
132
106
267
137
111
291
151
124
271
102
85
295
119
97
310
134
108
322
153
128
311
135
111
318
144
120
'148
'123
364
150
124
410
168
140
91,805
7,622
8,121
7,971
6,875
7,805
7,929
8,243
8,044
8,127
9,111
4,917
5,656
7,553
1,601
387
462
618
153
412
479
645
155
430
456
615
137
357
451
541
106
395
488
609
108
455
481
646
115
483
509
664
129
519
671
124
466
589
816
148
463
500
702
146
1,296
770
381
138
652
254
521
3,280
1,142
1,331
1,405
826
423
148
699
261
600
3,463
1,183
1,437
1,345
791
399
147
671
289
642
3,387
1,166
1,361
1,132
654
352
120
582
210
526
2,971
1,095
1,142
1,339
775
419
139
664
258
577
3,367
1,209
1,306
1,335
791
395
142
649
263
491
3,493
1,277
1,365
1,381
819
400
153
645
264
494
3,674
1,311
1,474
1,347
825
367
147
621
243
445
3,606
1,318
1,423
1,362
873
338
143
732
235
436
3,342
1,250
1,312
1,412
880
350
173
653
275
772
4,188
1,458
1,761
14,156
8,179
4,521
1,378
7,574
2,791
6,811
35,574
11, 760
14,898
» 15,518
9,299
4,454
1,675
7,609
2,952
6,135
» 39, 862
14,036
16,123
16,184
1 9,541
14,946
17,483
U8,598
9,299
5,055
18,217
4,807
2,443
1,298
4,641
4,619
3,004
4,903
7,212
23,765
2,730
5,396
6,616
125,893
682
1,377
1,876
592
1,314
10.0
67.6
67.0
8.8
68.0
69.2
1,310
4,302
6,388
9.0
5.8
5.9
8.9
6.0
6.1
8.9
5.8
5.8
9.2
4.9
4.6
9.1
5.6
5.7
9.0
5.9
6.0
8.9
6.5
8.9
6.0
6.0
9,861
9,163
460
452
679
138
529
562
821
167
460
604
785
146
1,374
845
359
161
646
251
845
3,820
1,332
1,605
1,667
1,033
434
190
776
318
486
4,535
1,568
1,883
1,522
937
396
179
737
293
483
4,134
1,388
1,744
5,140
2,396
1,346
4,819
5,322
2,556
1,459
6,129
21,850
2 924
2 544
2
2, 017
728
1,514
1,511
6,960
771
1,607
2,186
7,613
8.8
5.4
5.5
8.9
7.0
6.9
9.0
6.7
6.6
7.4
8.6
7.3
7.1
7.0
7.4
7.8
7.5
7.2
7.8
8.6
8.1
'7.6
10.6
8.8
11.3
10.2
11.4
9.8
11.8
9.9
11.7
9.8
11.8
10.0
11.8
9.8
11.5
9.8
11.3
10.0
11.2
10.1
11.3
10.2
11.0
10.0
10.8
9.7
.1089
Steel (carbon), finished, composite price...$ per lb..
.1189
.1191
.1191
.1191
_f Preliminary.
i Annual data; monthly or quarterly revisions are not
* or month shown.
3 Average for 11 months.
* Series discontinued.
.1191
.1191
.1191
.1191
.1191
.1191
2
268
2 547
2
545
2,467
7.1
7.2
10.5
9.2
»8.9
(<)
^Effective May 1973 SURVEY, prices are in terms of dollars per short ton.
June 1973
OF CURRENT BUSINESS
1971
Unless otherwise stated in footnotes below, data
through 1970 and descriptive notes are as shown
in the 1971 edition of BUSINESS STATISTICS
| 1972
Annual
S-33
1972
Apr.
May
June
July
Aug.
1973
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..
Recovery from scrap (aluminum content)..do
Imports (general):
Metal and alloys, crude
Plates, sheets, etc
Exports:
Metal and alloys, crude
Plates, sheets, bars, etc.*
3,925
1943
4,122
1,041
331
92
346
94
340
91
348
78
349
87
347
89
90
do
do
560.4
71.0
646.4
80.9
55.0
6.1
73.4
6.4
7.7
44.8
5.9
39.2
7.5
52.2
5.0
47.0
5.4
53.3
5.9
do
do
112.3
149.0
108.3
154.0
6.4
12.3
7.5
12.0
8.4
13.7
7.7
11.6
7.3
9.7
9.1
11.9
14.2
14.4
. 2900
.2645
.2900
.2636
.2500
.2500
.2500
.2500
.2500
1,047.5
840.8
440.0
160.3
881.6
726.0
388.1
117.8
998.8
797.1
407.3
147.7
983.1 1,015.4
778.6 794.2
403.6 397.3
150.7 165.8
1,038.8
776.9
393.0
171.6
Price, primary ingot, 99.5% minimum...$ per lb..
Aluminum products:
Shipments:
Ingot and mill prod, (net ship.)
Mill products, total...
Sheet and plate
Castings
mil. lb_.
do
.do
do
10,258.2
,820.6
7,846. 2 19,209.2
3, 976.4
4,760.4
1,855.7
1, 577. 2
Inventories, total (ingot, mill prod., and scrap),
5,029
end of period
.mil. lb._
Copper:
Production:
Mine, recoverable copper
thous. sh. tons._ 1,622.2
1,591.8
Refinery, primary
do
1,410.5
From domestic ores
do
181.3
From foreign ores
do
371.0
Secondary, recovered as refined
do
945.9 1,064. 5
818.1
732.4
416.8
376.4
165.8
157.5
357
372
87
351
54.5
6.0
58.2
6.5
38.8
6.2
50.9
6.4
43.1
4.6
10.0
14.8
14.0
13.7
12.4
18.5
11.5
13.1
10.6
18.5
12.4
19.4
.2500
.2500
.2500
.2500
.2500
.2500
99
1,024.0 1,157.0 1.101.8 1,251.7
765.8
826.3 ' 818. 8 947.5
496.5
404.4
424.2 r 430. 5
194.8
154.3
186.3 •• 178.6
4,804
4,980
4,915
4,871
4,919
4,877
4,840
4,828
4,808
4,804
4,840 r 4,764
4,694
1, 642.8
1, 809.1
1, 616. 2
192.8
383.0
140.6
153.5
139.5
14.0
144.7
164.4
149.4
15.0
137.7
159.4
143.5
15.9
115.1
128.2
114.1
14.1
136.7
142.0
129.4
12.6
138.2
149.9
128.7
21.2
140.6
149.2
131.2
18.0
135.3
157.6
134.9
22.7
137.4
143.8
132.7
11.1
4 94
137.3
157.4
141.1
16.4
135.7
143.8
128.8
15.0
151.5
166.7
145.6
21.0
365.8
162.1
423.6
189.8
29.9
10.5
33.5
13.6
35.9
25.1
44.7
14.1
35.6
18.5
36.3
14.0
43.0
21.7
47.6
23.3
22.8
11.6
40.8
21.3
39.9
18.2
44.6
21.5
27.9
12.7
283.0
187.7
267.7
182.7
26.7
20.2
20.8
14.4
19.2
12.9
17.9
11.0
19.6
12.3
20.8
12.8
20.3
13.7
15.8
10.7
19.9
14.7
22.1
15.9
24.4
15.6
23.6
12.8
17.7
2,014
277
174
2,230
271
114
2.5201
.5124
.5239
.5457
' . 5978
.6008
2,711
2,354
751
2,985
2,647
767
578.6
596.8
618.4
595.1
52.2
51.9
54.2
55.0
51.2
50.4
52.5
48.9
56.9
49.6
50.6
51.4
51.7
49.5
46.1
51.6
45.0
45.4
53.5
55.3
'49.5
56.2
44.8
56.4
261.7
Imports (general), ore (lead cont.), metal...do
1,431.5
Consumption, total
do
Stocks, end of period:
Producers', ore, base bullion, and in process
154.7
(lead content), ABMS
thous. sh. tons_.
Refiners' (primary), refined and antimonial
52.1
(lead content)
thous. sh. tons-.
125.6
Consumers' (lead content) d"..
do
Scrap (lead-base, purchased), all smelters
76.2
(gross weight)
thous. sh. tons..
.1380
Price, common grade A
$ perlb.-
344.6
1,428.7
22.5
116.5
SO. 5
124.6
51.8
122.9
17.1
91.0
22.9
123.4
38.4
122.2
22.6
127.6
27.2
126.8
23.6
116.0
45.1
128.8
27.6
124.1
17.7
134.4
168.0
155.9
153.2
158.6
159.1
161.4
165.3
169.4
173.0
168.0
165.9
151.9
141.7
64.5
113.2
29.0
133.4
35.9
132.1
40.3
135.3
55.3
142.6
67.5
128.6
69.1
125. 8
63.7
119.4
64.2
117.2
64.5
113.2
57.3
115.1
51.6
109.8
39.7
115.6
60.2
.1503
69.2
.1557
64.2
.1560
66.6
.1550
62.8
.1550
65.2
.1541
62.9
.1500
63.3
.1467
53.7
.1450
60.2
.1450
59.3
.1482
59.9
.1526
63.0
.1600
4,216
lg. tons.. 1 3,060
46, 940
52, 451
do
120,096 i 19,655
do
i 2,324
i 2,135
do
i69,950 i 68,574
do
151,980
152,443
do
0
3,793
1,650
275
5,750
4,410
322
6,248
1,655
270
6,150
4,690
0
4,701
1,770
245
5,985
4,660
1,072
2,842
1,410
220
5,260
4,130
0
3,406
1,690
220
5,660
4,335
529
2,105
1,815
195
5,405
4,210
599
6,532
1,685
215
5,700
4,345
91
4,723
1,820
180
5,365
4,115
496
4,135
1,470
135
5,525
4,180
504
5,103
1,670
175
5,870
4,735
709
2,967
1,710
145
5,945
4,625
452
5,221
1,955
150
' 6,370
' 5,025
42
162
11,240 11,235
1. 7503 1. 7661
95
12,195
1.7912
145
10,080
1.8199
81
34
11,370 12,180
1. 8040 1. 7721
226
11,550
1. 7625
126
10,270
1.7904
311
8,880
1.9197
Imports (general):
Refined, unrefined, scrap (copper cont.)_.do
Refined
do
Exports:
Refined and scrap
do
Refined
do
Consumption, refined (by mills, etc.)
do
Stocks, refined, end of period
do
Fabricators'
do
Price, electrolytic (wirebars), dom., delivered
$ per lb-.
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
Lead:
Production:
Mine, recoverable lead
thous. sh. tons_.
Recovered from scrap (lead cont.)
do
Tin:
Imports (for consumption):
Ore (tin content)
Metal, unwrought, unalloyed
Recovery from scrap, total (tin cont.)
As metal
Consumption, total
Primary
Exports, incl. reexports (metal)
Stocks, pig (industrial), end of period
Price, pig, Straits (N.Y.), prompt
Zinc:
Mine prod., recoverable zinc
Imports (general):
Ores (zinc content)
Metal (slab, blocks)
do
do
$ perlb..
thous. sh. tons..
Consumption (recoverable zinc content):
Ores
_•
Scrap, all types
do
do
dodo..
1
. 5257
.5257
.5257
.5063
.5061
794
678
212
2,306
9,804
1. 6734
1,466
11, 550
1. 7747
191
10,630
1.8198
235
12, 535
1. 7792
.5061
4 601
271
114
.5061
.5061
700
628
172
.5061
.6008
786
699
187
502.5
482.0
41.5
43.8
41.9
37.4
41.4
38.9
40.7
38.9
33.9
40.8
'36.5
39.1
254.9
522.6
29.9
24.7
24.6
39.0
24.9
59.8
14.7
44.9
8.9
40.6
16.2
56.5
21.8
46.9
14.4
60.4
11.8
37.8
22.0
19.8
46.2
20.4
52.1
i 119.3
i 277.3
140.4
259.9
13.1
20.9
11.8
22.1
12.2
22.3
11.2
21.3
8.5
22.2
9.3
21.7
12.1
22.0
13.2
22.8
13.3
21.9
13.7
22.0
12.7
22.1
13.9
22.8
59.5
3.8
97.9
0
56.3
5.8
125.4
53.1
5.4
121.8
57.1
7.0
129.0
0
56.6
6.4
123.6
51.8
5.3
112.8
.2
56.0
5.8
129.6
50.7
5.3
123.7
.1
56.8
6.4
134.7
.3
()
16.5
.1602
.1648
16
3,547
6,310
5,040
95
«= 130
9,270
' 9, 610
2.0509 2.0244
342.6
319.6
Slab zinc:
Production (primary smelter), from domestic
and foreign ores
thous. sh. tons-. 1766.4
697.9
57.2
63.1
64.3
Secondary (redistilled) production
do
!80.9
67.5
5.7
5.7
4.9
Consumption, fabricators.
do._.. »1,254.1 1,428.6
122.1
128.3 121.7
Exports
do._-_
13.3
4.3
1.3
0
(«)
Stocks, end of period:
Producers', at smelter (ZI)O
do __ 141.3
31.8
23.4
21.2
21.3
Consumers'
do.... * 104.3
138.8
93.2
96.9
111.4
Price, Prime Western
$perlb..
.1613
.1775
.1774
.1787 .1800
r
Revised.
» Preliminary. 3 i Annual data; monthly revisions are not available.
2
Average for 11 months.
Less than 50 tons.
* For quarter ending in month shown.
c
* New series.
Corrected.
*504
294
136
*602
272
143
.2500
2.0911
18.0
38.8
.4
24.6
30.4
32.7
31.2
31.8
31.3
32.3
28.1
28.0
26.7
23.5
127.4
123.9
138.8
121.1
140.4
143.9
144.3
125.0
138.4
"2039
.2032
.1985
.1866
.1800
.1811
.1928
.1800
.1800
.1800
.1800
AEffective Dec. 1971, nationwide delivered price substituted for N.Y.-basis price.
^Includes secondary smelters' lead stocks in refinery shapes and in copper-base scrap.
0 Producers' stocks elsewhere, end of May 1973,11.200 short tons.
1
O F UUKJ
S-34
Unless otherwise stated in footnotes below, data
through 1970 and descriptive notes are as shown
in the 1971 edition of BUSINESS STATISTICS
1971
1
June 1973
1972
1972
Apr.
Annual
-BU»5 JUNE ISIS
May
June
July
Aug.
1973
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
METALS AND MANUFACTURES—Continued
MACHINERY AND EQUIPMENT
Foundry equipment (new), new orders, net
mo. avg. shipments 1967=100..
Heating, combustion, atmosphere equipment, new
orders (domestic), net, qtrly
mil. $..
Electric processing heating equip.
do
Fuel-fired processing heating equip
do
Material handling equipment (industrial):
Orders (new), index, seas, adjt
1967=100..
Industrial trucks (electric), shipments:
Hand (motorized)
number..
Rider-type
do
Industrial trucks and tractors (internal combustion
engines), shipments.
number..
Industrial supplies, machinery and equipment:
New orders index, seas, adjusted*!-1967-69=100..
Industrial suppliers distribution:
Sales index, seas, adjusted*
__
1967=100..
Machine tools:
Metal cutting type tools:
Orders, new (net), total
mil. $..
Domestic
do
Shipments, total
do
Domestic
do
Order backlog, end of period
do
Metal forming type tools:
Orders, new (net), total
Domestic
Shipments, total
Domestic
Order backlog, end of period
Tractors used in construction:
Tracklaying, total
do
do
do
do
do
84.2
75.4
63.7
7.5
30.3
79.3
12.8
41.3
78.0
62.1
Radio sets, total, productioncf
thous..
Television sets (incl. combination), prodcf—do
Household electrical appliances, factory sales:
Air conditioners (room)
...thous..
Dishwashers*
do
Disposers (food waste)*
do .
Ranges
do...
Refrigerators
...do
Washers
...do
Dryers (incl. gas)
_
do
Vacuum cleaners
_
do...
GAS EQUIPMENT (RESIDENTIAL)
Furnaces, gravity and forced-air, shipments* thous.
Ranges, total, sales*.
_
$0...
Water heaters (storage), automatic, sales*._T.do."
54.6
58.4
23.8
4.0
12.8
90.0
101.1
58.2
18.3
2.9
9.7
101.1
74.6
83.9
113.6
99.6
128.4
113.6
114.7
123.9
130.6
153.7
136.5
132.9
155.0
149.4
157.4
164.1
180.6
15,482
16,902
1,253
1,279
1,250
1,314
1,283
1,685
1,102
1,282
1,312
1,385
1,619
1,544
1,377
1,457
1,416
1,518
1,476
1,701
1,544
1,525
1,696
1,626
1,849
1,978
3,281
3,265
3,940
2,788
2,940
3,832
3,589
4,000
3,828
3,797
129.5
49,289
123.7
127.8
99.1
116.3
112.3
108.9
116.4
117.0
118.4
121.4
104.7
120.3
114.7
116.0
" 119.0
116.0
120.7
• 120.4
608. 75 1,008.95
524.10
877. 25
672.30
714.45
554.20
627.15
407.5
702.0
66.70
57.20
49.55
44.40
80.45
69.90
57.15
48.25
512.9
75.00
66.70
70.05
63.00
517.8
78.60
64.65
47.80
42.25
548.6
77.60
69.45
48.45
44.05
577.8
97.50
76.80
76.25
65.00
599.0
94.45
84.35
63.85
56.05
629.6
112.70
103.45
66.20
58.80
676.1
252.40
223.20
325.60
285.60
161.8
27.65
26.50
26.35
21.95
158.5
29.75
26.00
23.65
21.50
164.6
40.10
38.45
33.85
30.45
170.8
25.80
22.90
24.60
22.65
172.0
31.35
29.70
19.30
17.25
184.0
42.25
38.05
19.95
18.10
206.3
47.35
42.10
27.40
25.95
226.2
53.20
48.90
30.65
26.05
248.8
403.05
368. 20
304. 25
267.20
260.5
1,144
1621
534
1300
124
180
176
435
43,220
438
• 118.9 ' 123.5
130.4
134.6
• 121. 5 • 130.5
129. 4
118.30
104. 20
92.40
83.45
702.0
124.80
103.25
66.15
58.60
760.6
130.40
117.80
74.40
67.40
816.6
170.80
149.10
98.80
83.95
159.95
145.90
76.30
68.80
972.2
*149. 65
3.85
H03.65
» 86. 80
»1,018. 2
37.65
34.10
25.95
21.45
260.5
56.85
49.55
27.15
25.70
290.2
72.45
66.40
28.70
25.85
334.0
76.70
72.05
35.35
33.55
375.4
80.95
74.45
30.60
28.60
425.8
v 70. 65
» 65.40
» 38.05
"35.10
v 458.4
139.1
144.2
• 129. 9 '135.4
140.0
4,591 3 2,085 3 1,960 3 2,360
3 63.7 3 59.2 3 67.9
120.1
2
940
2 35.1
5,157
135.7
1,230
49.4
12,040
214.1
10, 276
184.3
11,798
205.8
52,571
310.5
40,845
254.8
50,466 318,906 816,917 319,264
321.5 3 111.4 3109.3 3124. 9
2,558
2,794
3,178
4,086
4,538
4,553
4,507
60.7
56.9
60.3
57.3
35.5
34.8
67.6
60.3
79.6
35.8
22.5
21.3
37.7
32.3
34.7
39.2
40.3
37.9
103.9
1,740
1,860
4,260
5,682
153.2
1,713
69.2
2,249
87.1
108.7
27. 0
5.7
13.0
21.1
3.4
11.4
12,644
14,621
units.. »18,520
21,225
mil. $.. 1479.6 -1 546.0
Wheel (contractors' off-highway)
units.. 14,334
4,904
mil. $.. 1166.9
185.8
Tractor shovel loaders (integral units only), wheel
and tracklaying types
...units.. 127,145 46,052
mil. $.. i 640.9 rl 801.7
Tractors, wheel (excl. garden and contractors' offhighway types)
_
units.. 1165,309 196,988
mil. $.. i 892.0 r1,141.0
ELECTRICAL EQUIPMENT
Batteries (auto, replacement), shipments thous..
Electronic components, factory sales:
Semiconductors:
Discrete devices
_
mil. $_.
Integrated circuits
do
Tubes, selected power and spec, purpose...do..-.
Microwave
_
do
Electro-optical
do
High vacuum, gas, and vapor
do.-..
Capacitors
....do
Motors and generators:
New orders, index, qtrly
_.
1967=100..
67.0
4,473
4,226
3,108
39.7
43.2
44.5
102.5
1,616
1,012
1,420
995
1,954
1,312
1,314
793
1,543
* 2,194
*1,451
1,786
1,184
1,658
1,200
5,438
2,477
2,292
2,714
5,691
4,608
3,377
7,973
4,508
3,199
2,772
3,232
6,315
5,107
3,925
8,337
704.2
•263.0
1
217.6
• 274.1
515.5
373.7
248.8
634.1
681.2
268.8
210.6
273.4
583.6
408.8
263.1
599.7
407.5
262.9
243.8
243.0
563.0
408.7
255.1
583.5
280.6
236.1
210.7
269.3
637.4
406.9
272.2
498.1
129.7
293.8
250.3
297.4
629.2
505.1
375.1
689.5
82.1
288.8
267.2
278.5
521.5
466.7
392.2
727.7
137.4
333.1
243.7
312.7
606.5
496.5
442.4
838.1
157.2
308.9
236.4
297.0
502.2
439.0
384.0
764.0
293.1
267.7
232.8
258.9
409.5
381.9
335.7
625.4
1,795
2,549
3,088
2,066
2,661
3,163
169.8
211.2
278.0
153.4
221.2
251.0
165.5
238.5
244.1
156.3
169.4
240.8
184.1
238.7
248.5
193.6
253.1
239.7
216.0
232.3
291.4
178.2
224.1
249.8
157.2
218.2
254.1
2,564
50.8
5,209
1,425
4 5, 211
* 1, 681
2, 916
1,189
284.9
215.4
285.2
472.3
457.2
379.3
727.9
448.9
252.3
224.5
240.0
452.8
417.2
318.2
775.3
782.4
322.7
254.0
293.8
579.8
464.8
331.9
795.9
686.4
296.9
245.6
286.4
554.1
428.5
305.4
710.5
163.9
174.8
278.1
158.8
133.0
205.9 "260.9
278.9 ' 2 8 0 . 3
144.5
208.1
275.0
* 2,132 5 4,025
* 1,353 «1,252
20,086
13,507
2,837
122.0
105.0
18,579
11,197
1
3,860
1,341
722.4
325.2
260.6
311.9
623.8
476. 0
309.3
PETROLEUM, COAL, AND PRODUCTS
COAL
Anthracite:
i>705
'574
560
633
"8,727
16,637
516
467
445
676
493
585
501
653
623
659
Production
thous. sh. tons
671
780
5
25
121
31
40
49
141
41
58
93
77
87
89
Exports..
do
Price, wholesale, chestnut, f.o.b. car at mine
17.673
18. 228 17.738 17.738 17.738 17.738 18.130 19.110 19.110 19.110 19.110 19.110 19.110 19.110 19.600 19.600
.
$ per sh. ton..
o ,.
«552,192
590,000
49,405 52,435 49,660 40,530 51,675 48,905 51,180 49,805 44,460
48,740 '44,960 »-49,525 r 45,965 v 52,155
Bituminous:
*New series. Industrial hardware supplies and machinery (marketed through distributors)-Production
.thous. sh. tons..
orders index (Amer. Supply & Mach. Mfrs. Assn.) and sales index (Natl. & Southern Ind.
' Revised. v Preliminary. 3i Annual data; revisions are not available. 2 Excludes
Distributors Assns.) are based on 2-month moving average of selected members operations
figures for rubber-tired dozers.
For month shown. * Data cover 5 weeks; other periods,
1
and are adjusted for no. of working days. Effective June 1973 SURVEY, sales index revised
4 weeks.
« See note "tf ". «Monthly revisions are available upon request.
back to 1970.
Dishwashers and disposers (Assn. of Home Appliance Mfrs.) and gas equip*i^I lsi ?. ns f o r 1969 " 71 appear at bottom of p. S-34 of the Apr. 1972 SURVEY.
<f Effective Jan. 1973, data reflect total market: Sets produced in the United States, imment (Gas Appliance Mfrs. Assn.) reflect total industry sales. Monthly data prior to 1971
ports by U.S. manufacturers for sale under their brand name and, beginning 1973, also sets
are available upon request.
Imported directly for resale. fEffective Mar. 1973 SUEVEY, index revised back to 1968.
SURVEY
June 1973
Unless otherwise stated in footnotes below, data
through 1970 and descriptive notes are a s shown
in the 1971 edition of BUSINESS STATISTICS
1971
CURRENT BUSINESS
1972
Annual
S-35
1972
Apr.
May
June
July
Aug.
1973
Sept.
Oct.
Nov.
Mar.
Apr.
3,377
5,063
11. 209 11. 209 11.311
12.240 12.240 12. 240
11.160
11.267
11.541
11.267
Dec.
Jan.
Feb.
May
PETROLEUM, COAL, AND PRODUCTS—Continued
COAL—Continued
Bituminous—Continued
Industrial consumption and retail deliveries,
total 9 —
thous. sh. tons.. 494,862
326,280
Electric power utilities.-,.
do
157,024
Mfg. and mining industries, total
do
Coke plants (oven and beehive)
d o — 82,809
Retail deliveries to other consumers..___-do
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
Retail dealers..
__do_.
40,296
25,908
13,837
7,423
40,695
26,648
13,597
7,639
40,599
27,600
12,620
7,210
43,191
30,088
12,615
7,355
44,891
31,470
12,627
7,360
11,748
540
430
356
470
770
44,409
29,691
13,394
7,165
48,07'
32,286
14,328
7,630
51,208
34,175
15,486
7,804
46,637
30,425
14,722
7,182
1,214
1,305
1,455
1,563
1,490
1,124
320
55,960
4,915
5,416
4,882
9.696
11.209
10.378
11.367
10.146
11.120
10.146
11.120
10.146
11.120
thous. sh. tons.
do...
do...
772
56,664
21,823
654
59,853
23,953
55
5,091
1,770
51
5,236
1,813
do...
...do
do,..
do._.
do...
3,510
3,376
134
1,489
1,509
2,941
2,590
351
1,563
1,232
3, 111
2,900
211
1,549
95
n u m b e r . . 2 11,858
$ per bbl_.
3.41
mil. bbl__ 4,087.8
% of capacity..
86
11,348
3.45
4, 281.6
88
'__
42,286 43,362
28,800 28,967
12,342 13,164
7,040 7,345
89,985 '115,313 103,702 110,597 114,493 109,733 112,865 114,346
,668 *119,211 115,31L '108,59C 106,422
76,987 *98,450 83,689 90,493 95,330 92,574 95,397 97,209 *100,656 *101,953!*>98,450 *92,279 89,516
12,778 P16, 573 19,703 19,764 18,873 16,839 17,128 16, 787 *16,687 *16,958 *>16,573 15,996 16,601
v 8,331
7,199
*>8,973 9,343 10,014 10,138
8, 777 *9,052 *9,418 *8,973
8,558
8,259
340
310
290
220
P290
350
*290
340
*300
56,633
Exports
_
.do...
Prices, wholesale:
Screenings, indust. use, f.o.b. mine
$ per sh. ton.
Domestic, large sizes, f.o.b. mine
do__.
COKE
Production:
Beehive
Oven (byproduct)
Petroleum coke§
Stocks, end of period:
Oven-coke plants, total...
At furnace plants
At merchant plants
Petroleum coke..
Exports
11,351
519,789
348,625
159,253
87,272
6,337
4,923
5,173
5,380
10.146
11.120
10,146
11.120
10.426
11.120
10.443
11.120
10.933
11.990
53
4,976
1,821
49
5,024
1,884
54
088
2,239
54
4,822
2,112
53
5,026
2, 219
62
4,914
2,148
70
5,183
2,254
53
5,364
2,282
»-62
4,891
2,012
5,356
3,022
2,795
227
1,537
151
2,907
2,643
263
1,589
107
3,089
2,748
340
1,661
76
3,185
2,831
355
1,613
74
3, 202
2,818
384
1,548
130
2,729
360
1,570
132
3,011
2,662
349
1,485
80
2,941
2,590
351
1,563
179
2,824
2,497
326
1,720
76
2,560
2,269
291
1,795
34
2,291
2,039
252
1,948
114
923
3.41
335.6
84
920
3.41
355.9
86
1,042
3.41
355.3
89
3.41
368.5
946
3.51
369.4
1,065
3.51
363.4
91
792
3.51
368.1
3.51
355.6
985
3.51
375.5
91
758
3.51
377.9
91
777
3.51
341.2
953
3.56
378.2
3,627
2,954
11.570
11.283
61
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, t o t a l s
Production:
Crude petroleum
Natural-gas plant liquids
Imports:
Crude and unfinished oils
Refined products
5,510.7
5.837.3
468.2
487.9
474.0
484.5
487.5
478.3
508.5
485.1
520.7
517.6
490.7
543.0
do..
_do__
3,453.9
623.9
3,459.1
643.0
285.7
53.4
298.4
54.1
287.6
52.4
294.1
64.1
294.9
64.5
284.3
52.8
294.3
55.3
283.3
53.4
289.8
54.0
284.6
52.9
262.5
49.8
248.4
54.8
658.6
774.3
856.8
878.4
63.7
65.4
69.6
65.9
65.6
68.4
71.0
65.4
69.1
69.1
74.9
66.3
82.2
76.6
72.8
75.6
87.4
88.0
92.2
82.9
95.5
102.2
101.6
26.1
Change in stocks, all oils (decrease,—)
do
-85.0
4.3
37.8
7.2
31.8
1.9
20.9
4.4
-36.7
-54.9
-53.3
-38.8
20.5
Demand, total
Exports:
Crude petroleum
Refined products
Domestic demand, total 9
Gasoline
Kerosene
do..
5,499.4 5,929.6
462.2
454.2
464.6
454.8
487.6
459.3
603.5
523.5
574.6
571.4
526.5
527.9
do_
do..
do.
do..
do..
.5
.2
81.3
81.3
5,417.6 5,848.1
2,213.2 2.350.4
85.9
90.9
.2
7.2
454.9
190.0
5.3
0
6.2
448.1
201.2
4.4
0
6.3
458.3
206.1
3.5
0
6.4
448.4
208.3
2.9
0
7.2
480.4
216.6
5.3
0
6.9
452.4
194.9
5.9
0
7.3
496.2
198.5
7.4
0
7.4
516.1
195.5
8.6
0
7.5
567,1
198.8
11.4
0
6.5
564.9
190.9
12.6
0
7.3
519.2
181.5
10.8
0
6.9
520.9
203.2
6.2
66.2
67.1
31.0
85.5
73.2
36.3
101.5
85.3
31.5
131.2
97.6
31.9
128.2
101.1
34.4
118.8
92.5
30.5
102.7
95.2
4.6
4.3
17.6
19.7
46.9
37.0
046.2 1, 050.6
250.8
253.7
113.1
110.2
682.3
686.6
4.6
11.1
52.6
3.9
6.8
60.0
4.6
5.6
61.8
4.6
5.4
52.0
4.9
8.1
43.6
, 013. 9
251.3
107.5
655.1
959.0
246.4
100.8
611.7
905.7
237.5
94.0
574.3
235.4
93.7
537.8
887.4
244.1
103.6
539.7
194.9
200.7
197.9
213.2
217.1
0)
173.0
.2
220. 0
.1
211.1
__.
_
Distillate fuel oil
Residual fuel oil
Jet fuel
_-.____
Lubricants
Asphalt
Liquefied gases
__.
___do_.
do.
...do..
971.3
838.0
368.7
1,066.0
925.6
382.5
83.3
73.3
29.6
69.8
65.4
31.0
65.8
65.9
34.9
54.8
65.4
31.0
64.0
70.1
29.3
do..
___do-.
49.3
158.5
456.8
52.8
163.8
515.3
4.6
10.1
35.0
4.5
15.7
30.5
4.3
19.2
33.1
4.8
20.0
34.4
4.7
24.2
38.2
___do
1,043.9
259.6
do."
106.8
eiclV.'.ldo.'.'..
677.5
.do
959.0
246.4
100.8
611.7
946.6
266.6
113.6
566.4
984.4
279.5
116.3
588.6
991.6
271.4
120. 4
599.8
023.4 1,025.3
258.0
265.8
111.9
116.0
655.4
641.6
2,320.0
1.0
217.1
176.8
.1
229.5
188.6
.1
219.2
189.1
.1
204.3
206.7
.1
204.7
IllllHIIIdoI]
Stocks, end of period, t o t a l .
Crude petroleum
Unfinished oils, natural gasoline,
Refined products
Refined petroleum products:
Gasoline (incl. aviation):
Production
Exports
Stocks, end of period
I
t
do
^do_.
Ido..
2,202.6
1.6
223.8
Prices (excl. aviation):
Wholesale, ref. (Okla., group 3)___.$ per gal.120
.119
Retail (regular grade, excl. taxes), 55 cities
(1st of following mo.)
$ per gal.
.245
.252
Aviation gasoline:
Production
mil. bbl
18.5
17.0
Exports
_ do
1.2
.5
Stocks, end of period
do
4.4
4.3
Kerosene:
Production
do
87.5
80.1
Stocks, end of period
do_
24.4
19.1
Price, wholesale, bulk lots (N.Y. Harbor)
.126
.127
$ per. gal. .
' Revised.
v Preliminary.
Less than 50 thousand barrels.
2 Reflects revisions not available by
.120
.120
.120
.228
.236
.240
1.4
1.5
1.4
.1
3.9
0)
4.0
5.9
16.4
5.2
17.1
5.0
18.6
.127
.127
.127
months.
206.2
0)
196.8
199.8
.1
203.7
204.6
.2
211.7
0)
226.0
.120
.120
.120
. 120
.235
.261
.254
.250
1.3
.1
3.7
5.7
21.5
1.6
1.4
3.8
1.7
(l)
3.8
0)
6.7
22.9
6.4
22.0
3.8
5.9
22.1
0)
749
3.77
90
mil. bbl
do
do
3.77
.120
.120
.120
.252
.253
.248
1.5
1.0
4.1
1.2
0)
4.3
7.8
21.4
9.0
19.1
(0
4.0
9.5
16.0
.125
.130
.130
.259
.263
.265
3.6
.1
3.3
9.4
14.6
16.4
(0
.127
.138
.127
.138
.127
.138
.127
.127
.127
.127
J1 Includes small amounts of "other hydrocarbons and hydrogen refinery input," not
shown separately.
9 Includes data not shown separately.
§ Includes nonmarketable catalyst coke.
SURVEY
S-36
1971
Unless otherwise stated in footnotes below, data
through 1970 and descriptive notes are as shown
in the 1971 edition of BUSINESS STATISTICS
CURRENT BUSINESS
1972
1972
Apr.
Annual
June 1973
May
June
July
Aug.
1973
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
PETROLEUM, COAL, AND PRODUCTS—Continued
P E T R O L E U M 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
Tnil bbl
Imports
_
. -. do
Exports
do
Stocks end of period
do
Price, wholesale (Okla., No. 6)
$ per b b l . .
963.6
66.4
1.2
154.3
912.1
55.8
2.8
190.6
74.4
5.7
.2
98.3
80.3
4.1
.1
112.9
78.8
2.9
.1
128.8
78.5
3.1
.1
155.6
80.2
2.9
174.7
78.8
3.0
.1
190.3
84.5
6.3
81.7
6.8
195.6
182.6
91.2
11.8
.2
154.3
94.0
11.2
.3
131.0
82.3
18.8
.1
113.3
18.0
.1
111.3
.116
.117
.117
.117
.117
.117
.117
.117
.117
.117
.117
.117
.128
.128
.128
.128
274 7
577.7
13.2
59.7
2.37
292.5
637.4
12.1
55.2
2.35
22.2
50.3
1.5
49.4
2.35
20.6
48.8
.6
53.0
2.35
19.8
49.5
.6
56.1
2.35
20.9
49.4
1.1
60.2
2.35
20.9
51.2
1.2
61.4
2.35
21.3
48.7
.9
63.7
2.35
23.1
51.3
1.5
63.8
2.35
26.7
53.1
.9
57.7
2.35
34.9
61.0
1.0
55.2
2.35
34.6
61.3
1.0
49.2
2.35
29.1
58.0
.9
43.1
2.35
67.7
.8
44.7
2.35
2.60
.260
304.7
27.7
310.0
25.5
26.3
27.6
27.5
28.9
25 8
28.4
27.1
29.4
26.0
31.6
24.3
30.6
25.5
28.6
24.0
26.6
25.1
25.5
26.8
24.8
25.2
25 A
27.6
65.5
15.8
15.0
65.3
15.0
13.3
5.2
1.3
13.7
6.7
1.1
13.7
5.6
1.1
13.9
5.4
1.1
13.4
5.8
1.2
13.3
5.3
1.1
13.3
5.6
1.2
13.2
5.4
1.4
12.9
5.5
1.4
13.3
5.7
1.2
13.4
5.4
1.1
13.3
1.2
13.3
.270
8.270
.270
.270
mil bbl
do
157.0
21.2
155.3
21.6
11.4
31.0
14.9
31.0
16.0
28.6
17.1
26.4
17.6
20.7
16.6
18.8
15.1
17.2
11.4
18.4
9.1
21.6
7.9
24.3
8.3
27.6
30.0
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
547.9
417.6
130.2
94.7
575.1
444.7
130.4
85.7
47.8
36.9
10.8
80.0
48.5
37.2
11.3
92.7
46.4
35.6
10.8
101.2
48.4
36.8
11.5
109.8
48.4
37.0
11.4
114.9
46.8
36.0
10.8
119.4
49.1
38.4
10.7
115.5
47.7
37.6
10.1
103.2
49.0
38.2
10.8
85.7
48.6
37.4
11.2
69.2
45.5
35.4
10.1
59.9
38.7
Asphalt and tar products, shipments:
Asphalt roofing total
thous squares
Roll roofing and cap sheet
do
Shingles, all types
do
93,365
35,684
57,682
§
189
374
899
Si
5,294
5,609
5,165
5,458
5,905
4,701
5,693
5,707
4,734
5,994
6,044
4,636
1,008
608
'950
••575
1,083
546
Jet fuel:
Production
Stocks end of Deri od
mil hhl
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
63.8
PULP, PAPER, AND PAPER PRODUCTS
PULPWOOD AND WASTE PAPER
Pulpwood:
Receipts
Consumption
Stocks, end of period
Waste paper:
Consumption
Stocks, end of period
thous. cords (128 cu. ft.)
do..
do..
67,220
67,601
5,371
67,680
69,170
5,165
5,449
5,655
4,578
5,457
6,732
4,305
6,042
6,079
5,504
5,706
5,742
5,481
6,031
5,927
5,651
5,795
5,615
5,779
5,944
6,084
5,697
5,597
5,852
5,453
thous. sh. tons
do..
10,997
558
11,269
626
914
504
967
538
840
547
1,000
526
931
564
1,010
585
971
604
thous. sh. tons
do..
do
do..
43,933
1,671
29,551
2,101
46,341
1,676
31,255
2,129
3,893
147
2,594
181
4,013
135
2,688
189
3,942
142
2,665
182
3,766
126
2,569
152
3,991
138
2,685
183
3,668
133
2,468
185
4,123
144
2,788
200
3,876
143
2,600
178
3,662
129
2,468
165
4,054
145
2,748
186
3,743
129
2,536
173
4,212
155
2,840
206
do._
do
do..
4,462
2,405
3,743
4,617
2,720
379
254
393
256
350
241
332
359
236
325
390
256
337
346
216
320
266
345
376
255
325
355
229
317
375
255
343
351
249
305
390
271
349
do
do"
do..
do._
623
398
71
984
548
362
75
954
492
385
78
943
477
392
74
907
432
402
73
914
430
411
73
866
392
402
73
862
323
323
393
797
357
370
••791
350
'376
75
371
390
78
790
344
381
66
2,253
793
184
66
119
217
68
150
176
62
114
186
69
116
175
67
108
196
72
125
195
72
123
229
73
155
150
51
99
174
70
104
187
61
126
198
74
121
214
65
149
3,728
224
*3.504
325
26
300
290
24
266
309
16
293
271
6
265
310
21
331
319
22
342
334
16
319
346
17
363
278
8
271
394
18
376
338
11
327
359
329
13
316
55,032
23,817
26,103
137
4,975
59,310
25,320
28,637
136
5,217
4,828
2,055
2,320
11
442
5,203
2,194
2,548
12
449
5,023
2,127
2,436
12
448
4,613
1,926
2,255
11
421
5,232
2,205
2,532
12
483
4,734
2,003
2,285
12
434
5,258
2,227
2,552
11
467
5,065
2,178
2,449
11
428
4,612
2,039
2,171
10
392
5,149
2,226
2,488
12
425
4,856
'2,076
2,338
11
••432
5,435
2,312
2,610
12
502
110.6
102.4
103.0
109.0
105.5
106.4
108.5
105.6
106.1
108.5
105.8
106.5
108.5
106.0
106.6
108.8
106.0
106.8
108.8
106.0
107.2
108.8
106.5
107.3
109.6
106.8
107.3
109.6
106.8
107.2
109.6
107.1
107.2
109.6
108.2
107.1
109.6
109.7
108.1
111.0
110.7
108.5
WOODPULP
Production:
Total, all grades
Dissolving and special alpha
Sulfate
Sulflte
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
_do._
do
do...
Imports, all grades, total
.
do
Dissolving and special alpha
do
All other
do...
PAPER AND PAPER PRODUCTS
Paper and board:
Production (Bu. of the Census):
All grades, total, uradjusted__.thous. sh. tons
Paper
do...
Paperboard
do...
Wet-machine board
do."
Construction paper and board
./do..'
wholesale price indexes:
Book paper, A grade
1967 = 100
Paperboard
do
Building paper and board...
do
1
2,175
1
790
i 1,385
13,515
313
13,202
1
'Revised.
'Reported annual total; revisions not allocated to the months.
2
Less than 50 thousand barrels.
4
s Series discontinued.
Data not available.
r
r
111.7
113.0
109.3
• Average for May and June.
111.7
114.6
110.8
SURVEY OF CURRENT BUSINESS
June 1973
1971
Unless otherwise stated in footnotes below, data
through 1970 and descriptive notes are a s shown
in the 1971 edition of BUSINESS STATISTICS
1972
Annual
S-37
1972
Apr.
May
June
July
Aug.
1973
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
PULP, PAPER, AND PAPER PRODUCTS—Continued
P A P E R AND P A P E R PRODUCTS—Con.
Selected types of paper (API):
Groundwood paper, uncoated:
Orders new
thous. sh. tons
.do....
Orders, unfilled, end of period _
Shipments
-do....
Coated paper:
.do....
Orders, new
.do....
Orders, unfilled, end of period
-do.-.
Shipments
Book paper, uncoated:
.do....
Orders new
do
Sh ipments
Writing and related papers:
do
Orders new
do
Shipments
Unbleached kraft packaging and industrial converting papers:
Orders new
do
.do....
Orders unfilled, end of period. _
.do....
Shipments
Tissue DaDer Droduction
- . . do.
113
133
131
120
154
115
118
164
107
126
174
115
102
188
99
134
181
121
316
345
315
325
365
299
335
374
321
310
372
314
298
393
291
332
379
317
348
445
305
354
448
343
254
235
237
232
262
245
252
240
238
231
263
257
261
232
284
263
223
244
247
283
282
275
292
295
284
288
270
302
300
285
276
338
297
339
189
326
301
164
309
292
342
218
339
330
303
337
345
324
241
326
321
318
189
303
314
368
204
337
346
176
333
330
308
'341
316
212
313
366
219
343
313
346
723
727
498
735
725
508
733
753
488
699
711
475
734
721
489
694
775
407
784
832
359
750
796
313
735
804
244
767
729
283
722
730
274
811
283
275
76
303
283
287
70
275
273
72
294
298
68
260
293
303
41
293
278
297
275
971
35
312
310
36
663
613
583
605
625
701
617
610
618
627
617
583
609
611
625
553
562
615
163.70
163.70
163.70
163.70
163.70
163.70
578
1,446
574
1,199
596
1,280
690
1,332
519
1,399
556
1,397
543
1,420
549
1,216
1,405
80
164
1,229
1,317
3,255
3,630
287
393
3,251
106
90
102
126
106
114
108
96
113
108
99
107
125
108
118
121
117
3,522
278
255
284
289
276
286
306
284
275
287
322
272
2,643
2,567
2,885
2,782
233
230
250
239
236
234
223
216
2,936
2,955
3,204
3,241
256
287
278
269
257
275
3,868
156
3,755
3,750
4,039
317
157
314
356
179
335
330
.do____
-do
.do—.
8,297
8,210
323
8,661
8,740
244
_do____
3,296
41
3,422
3 437
27
.do....
Consumption by publishers^
Stocks at and in transit to publishers, md of
period
thous. sh . tons..
7,057
7,569
638
705
544
647
Imports
...do
Price, rolls, contract, f.o.b. mill, freight allowed
or delivered
$ per sh. ton
6,881
7,101
590
157.00
163.20
474
917
501
Newsprint:
Canada:
Production..
Shipments from mills
Stocks at mills, end of period
United States:
Production
q ooQ
.do—.
Stocks at mills, end of period
Paper board (American Paper Institute):
Orders, new (weekly avg.)
thous. sh tons...
do_
Orders, unfilled §
.do—
Production, total (weekly avg.)_ . .
241
3,916
3,897
Qf|K
74
977
51
134
272
213
318
9Rfi
35
297
773
801
270
292
290
38
27
31
698
661
610
585
671
539
544
573
601
637
640
650
710
578
679
634
163. 70
163.70
163. 70
163.70
166.70
167.75
168.58
168.58
568
1,481
526
1,599
611
1,905
594
1,899
495
611
1,664
576
629
1,792
573
741
1,446
537
592
584
588
17,530
19,758
552
573
562
520
663
533
589
1,505
575
Paper products:
Shipping containers, corrugated and solic fiber,
shipments.
mil. sq. ft. surf . area.. 191,832 '1211,926
16,579
17,676
18,939
16,427
15,858
21,482
19,721
18,643
17,158
17,990
thous. sh tons.. 2,445. 0 2,525. 0
mil$__ 1,250. 0 1,330.0
202.7
105.2
211.4
109.7
214.9
112.6
183.0
95.9
221.5
117.4
216.2
115.2
230.7
123.6
208.7
111.5
219.1
118.2
207.2
112.0
Folding paper boxes
7QQ
20,434
18,192
197.3 '221.3
'117.4 ' 120.7
205.4
111.3
59.43
117. 54
43.26
RUBBER AND RUBBER PRODUCTS
RUBBER
Natural rubber:
Consumption
___thous. Ig. tons..
Stocks, end of period
do
Imports, incl. latex and guayule
do
577.81
133.32
612.72
J>640.40
*116. 72
602.16
61.91
129.71
47.62
54.06
117.04
49.79
53.23
109.09
36.43
40.86
102.86
38.67
55.25
112.25
50.65
54.08
109.47
39.30
58.47
109.59
54.73
52.57
112.30
55.32
Price, wholesale, smoked sheets (N.Y.)__$ per lb..
.180
.181
.165
.169
.173
.175
.175
.180
.194
.205
thous. lg. tons.. 2,241.00 *2, 424. 7 208. 74
do
2,104.87 »2, 291. 5 189.72
do
*495. 7 492.71
488.17
210.74
196.96
491.34
191. 01
197.67
485. 05
195.61 202. 74 200.44
152.09 191.90 195. 26
519. 24 512. 64 515.46
211.64
210.19
504.39
201.65
193.96
495.66
Synthetic rubber:
Production
Consumption
Stocks, end of period
Exports (Bu. of Census)
Reclaimed rubber:
Production. _
Consumption
__
Stocks, end of period
_
52.88 3 58.08
116. 72 2122.84
56.04 57.67
56.83
116. 77
48.09
63.15
120.47
59.44
.228
.255
.286
199.14 2 217.35 209.17
193. 45 2 206.51 199.80
495.68 2 471.86 473.14
218.54
220.64
454.83
223. 63
199.03
461. 63
.210
.310
do
269. 82
257.10
16.75
19.99
18.14
20.06
22.10
16.47
24.04
21.92
23.99
23.65
22.20
22.99
22.36
do
_.do
do
199.19
200.47
22.67
»194. 45
P187. 58
»19.91
17.78
16.04
22.60
18.54
16.49
26.25
16.99
15.87
23.13
11.28
11.81
21.72
15.87
15.12
20.74
15.48
15.35
19.87
16.41
16.44
19.17
14.87
14.45
19.29
15.20 219.08
14.71 2 15.92
19.91 219.33
20.52
16.30
19.49
22.29
17.40
19.42
19.39
14.35
20.55
thous.. 216,361
229,611
19,009
19, 725
20,270
14,765
18,608
19,352
20,999
18,721
21,001
19,993
22,229
19,193
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)
r
2
_
do
do
do
do
214,539
58,941
153,646
1,953
227,965
63,870
161,766
2,328
21,668
5,601
15,905
162
21, 215
5,957
15,092
166
21,277
5,349
15,685
243
16,209
2,946
13,073
191
19,628
4,685
14,781
162
21,339
5,793
15,308
21,840
6,201
15,415
224
17,647
5,922
11,564
161
15,677 17,769
5,178 6,513
10, 263 11,005
251
17,780
6,054
11,521
204
22,352
7,114
14,907
330
23,429
6,211
16,950
268
do
do
54,982
1,589
60,255
2,127
60,918
150
59,753
167
58,836
215
57,836
180
56,894
225
54,965
161
55,769
211
56,319
180
60, 255
214
236
66,419
131
66,708
310
62,872
295
do
do
do
do
35,562
40,476
8,271
979
38,705
41,774
9,391
766
3,496
3,367
3,697
9,813
2,441
2,986
9,481
36
3,282
3,615
9,482
65
3,227
3,507
9,262
82
3,323
3,878
9,144
63
3,166
3,392
9,168
40
2,950
2,977
9,391
3,425
3,804
9,605
61
3,564
3,616
9,896
66
3,836
4,085
10,153
71
3,364
3,912
10,175
149
3,544
9,494
61
Revised.
v Preliminary.
i Reported annual total; revisions not allocated to months.
Publication of monthly rubber statistics was discontinued by the Census Bureau effective
with the Dec. 1972 report (Series M30A). Data beginning Jan. 1973 are from the Rubber
Manufacturers Association and are not strictly comparable with earlier data.
19,387
9,363
28
cf 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 tne
month; annual data are as of Dec. 31.
SUJK
S-38
Unless otherwise stated in footnotes below, data
through 1970 and descriptive notes are as shown
in the 1971 edition of BUSINESS STATISTICS
1971
OF
1
(JUKI
1972
1972
Annual
June 1973
BUi
Apr.
May
June
July
1973
Nov.
Dec.
Jan.
Feb.
50,447 44,436 46,048
33,197
24,112
23,915
24,824
6.1
136.9
569.5
5.2
101.3
616.8
5.1
99.5
' 610.2
'5.8
96.1
821.2
7.8
127.1
10.0
Aug.
Sept.
Oct.
Mar.
Apr.
May
STONE, CLAY, AND GLASS PRODUCTS
PORTLAND CEMENT
Shipments, finished cement
thous. bbl... H20,238 i 440,064
34,612 42,234
45,043 42,335
36,106
CLAY CONSTRUCTION PRODUCTS
Shipments:
Brick, unglazed (common and face)
mil. standard brick.. 7,569.7
Structural tile, except facing
thous. sh. tons..
157.0
Sewer pipe and fittings, vitrified
do
Facing tile (hollow), glazed and unglazed
1,720.6
mil. brick equivalent..
Floor and wall tile and accessories, glazed and un155.4
glazed
mil. sq. ft_.
Price Index, brick (common), f.o.b. plant or
276.1
N.Y. dock
1967=100__
117.4
GLASS AND GLASS PRODUCTS
8,397.2
100.5
701.3
8.0
1,718.0
144.0
133.3
10.5
307.9
26.0
122.1
122.0
808.3
10.6
160.4
784.6
11.0
162.4
12.0
13.2
27.7
28.4
122.1
122.1
727.5
8.4
152.3
11.0
24.4
835.9
8.1
177.6
724. S
7.0
162.0
751.5
7.2
158.2
13.1
12.2
12.4
11.6
8.4
8.2
«8.4
29.0
25.9
27.5
24.3
21.3
24.4
22.2
26.6
122.1
122.1
123.7
124.1
124.6
127.4
129.1
130.1
130.8
thous. $.. 464,674
550,485
131 685
138,099
148,732
Sheet (window) glass, shipments
..-.do
150,344
314,330
Plate and other flat glass, shipments
do
Glass containers:
Production
thous. gross.. 263,780
157,222
393,263
40,235
91,450
38,427
99, 672
37,739
110,993
Flat glass, mfrs.' shipments.
Shipments, domestic, total
Narrow-neck containers:
Food
Beverage
_
Beer
Liquor and wine
269,586
21,903
23,350 24,704
23,082 24,968
21,356
24,509
21,276
18,935
22,253
22,320
25,089
23,051
do
255,261
264,611
19,288
23,650 24,420
21,518
25,233
22,145
22,119
20,754
20,058
21,281
19,537
23,567
21,900
do
do
...do
do
24,310
67,552
53,189
21,146
24,321
70,953
54,404
22,341
1,837
5,119
4,551
1,679
2,091
6,999
5,016
1,961
2,021
6,904
5,731
2,021
1,850
6,294
5,070
1,460
2,638
5,266
1,870
2,510
5,557
4,540
1,806
1,766
5,257
4,436
2,132
1,645
5,201
3,903
2,052
1,475
5,558
4,013
1,837
1,876
5,236
4,217
1,865
1,983
4,756
3,902
1,652
r 2,290
' 5,880
' 5,289
r 2,104
1,992
5,517
5,104
1,861
67,208
58,241
238
3,799
12
4,803
21
4,870
19
5,505
23
4,877
22
5,426
26
4,892
4,359
21
5,006
20
4,378 ' 4,749
14
'16
4,486
16
27,645
3,906
29,892
4,221
1,982
309
2,419
340
2,492
362
1,963
301
2,680
392
2,485
348
2,683
393
2,692
348
2,492
303
2,694
367
2,496
356
r 2,856
'383
35,652
35,842
37,141
36,487 36,377
37,406
36,604 35,470
37,474
37,424
35, 842 36,705
39,208
40,282
10,437
10,224
12,368
11,984
3,149
2,996
3,229
3,115
3,270
3,020
2,924
3,081
6,262
7,718
1,905
2,179
1,995
1,572
4,305
4,719
1,301
1,353
1,202
862
268
309
73
80
382
634
11,939
477
292
272
9,014
1,766
117
330
513
14,372
451
357
343
10,738
2,279
204
82
140
3,782
118
96
91
2,824
596
67
71
124
3,657
102
92
82
2,733
587
60
Wide-mouth containers:
Food (incl. packer's tumblers, jelly glasses,
and fruit jars)
thous. gross..
Dairy products
do
Narrow-neck and Wide-mouth containers:
Medicinal and toilet
....do
Household and industrial
do
Stocks, end of period
do
130.9
122.1
2,536
388
41,008
GYPSUM AND PRODUCTS (QTRLY)
Production:
Crude gypsum
...thous. sh. tons..
Calcined
do
Imports, crude gypsum
Sales of gypsum products:
Uncalcined
Calcined:
Industrial plasters
Building plasters:
Regular basecoat
All other (incl. Keene's cement)
Board products, totalG
Lath
Veneer base
Gypsum sheathing
Regular gypsum board.
Type X gypsum board....
Predecorated wallboard
do
.do
do
do
_do
mil. sq. ft._
....do
do
„
do
do
do
....do
91
126
3,584
114
90
93
571
48
76
123
110
97
80
2,719
603
52
TEXTILE PRODUCTS
WOVEN FABRICS!
Woven fabrics (gray goods), weaving mills:
Production, total 9
mil. linear yd_
Cotton
_do.
Manmade fiber ,
do...
Stocks, total, end of period 9 cf
do...
Cotton
do
Manmade
fiber
.do
Orders, unfilled, total, end of period9 f ...do
Cotton
do .
Manmade
fiber
„
do.—
10,911
6,156
4,647
11,151
5,740
5,315
1,089
472
608
2,657
1,494
1,138
867 21,171
2 581
431
2 581
429
867 2 1,170
2 561
421
2 596
436
460
887
466
412
21,098
2 578
2 511
697
340
350
408
567
1,044
470
563
1,034
454
571
1,054
456
588
1,055
464
581
1,051
453
690
1,021
424
590
418
655
973
416
550
408
567
951
407
539
4,164
2,111
2,010
3,181
1,760
1,396
3,371
1,924
1,419
3,396
1,902
1,467
3,380
1,848
1,504
3,371
1,837
1,497
3,460
1,844
1,580
3,653
1,944
1,680
3,986
2,100
1,864
4,164
2,111
2,010
4,227
2,140
2,037
40
521
1,826
6,850
9,310
11,610
493
587
8 715
2 739
544
845 2 1,040
424
2 528
414
2 504
COTTON
Cotton (excluding linters):
Production:
GinningsA
thous. running bales.. 310,229 < 13,267
Crop estimate, 480-pound bales, net weight
thous. bales.. 310,477 •13,702
Consumption
do
620
627
8,128
2772
7,777
Stocks in the United States, total, end of period
4,597
thous. bales.. 10,054 12,333
6,555
10,035 12,319
4,573 3,785
5,526
Domestic cotton, total
do
2,389
161
119
On farms and in transit
__do_ .
3,346
377
6,416
2,572
1,997
Public storage and compresses
.do
7,947
3,253
1,230
1,840
1,669
Consuming establishments
do
1,026
1,896
19
24
23
14
29
Foreign cotton, total
do.
'2 Revised.
i Reported annual total; revisions not allocated to the months or quarter.
Data cover 5 weeks; other months, 4 weeks.
3 Crop for the year 1971.
* Crop for the
year 1972.
«Excludes unglazed and salt glazed facing tile formerly included.
0Data
for total board products are available back to 1947.
t Monthly revisions (1968-71), reflecting
recent benchmark adjustments, appear in "Woven Fabrics: Production, Stocks, and Unfilled
Orders, M22A—Supplement (Dec. 1972), Bureau of the Census.
9 Includes data not
shown separately.
12,276 U3.267
2747
U3,702
597
601
2 718
7,331
8,781
9,883
3,304 16,050 15,364 14,997 13,696 12,333 10,890
7,316
8,766
9,866
3,280 16,030 15,345 14,979 13,680 12,319 10,874
1,376
1,895
2,041
150 13,338 12,333 8,490 5,739 3,346 2,420
4,382
5,463
6,527
7,321
1,472 2,018 5,601 6,992 7,947
1,607
1,558
1,408
1,298
1,026
1,133
1,220
888
949
1,523
994
15
15
17
14
16
20
18
16
24
19
<?Stocks (owned by weaving mills and billed and held for others) exclude bedsheeting,
toweling, and blanketing, and billed and held stocks of denims.
HUnfilled 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.
CUREENT BUSINESS
June 1973
1971
Unless otherwise stated in footnotes below, data
through 1970 and descriptive notes are as shown
in the 1971 edition of BUSINESS STATISTICS
1972
1972
Annual
S-39
Apr.
May
June
July
Aug.
1973
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
TEXTILE PRODUCTS—Continued
COTTON—Continued
Cotton (excluding llnters)—Continued
Exports..
thous. bales— s 4,128
Imports
—__do.
75
Price (farm), American upland©..cents per lb._.
Price, middling 1", avg. 12 markets©
do.
128.1
131.5
»26.6
"31.0
COTTON MANUFACTURES
Spindle activity (cotton system spindles):
Active spindles, last working day, total. .—milConsuming 100 percent cotton._
—do
Spindle hours operated, all fibers, total
bil__
Average per working day
do
Consuming 100 percent cotton
-do.
18.4
11.4
113.8
.438
70.3
1.061
Cotton yarn, price, 36/2, combed, knit
$ per lb__
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' prqd__
Inventories, end of period, as compared with
avg. weekly production .-No. weeks' prod—
Ratio of stocks to unfilled orders (at cotton
mills), end of period t
----Exports, raw cotton equiv
thous. bales._
Imports, raw cotton equiv
do.
Mill margins:
Carded yarn cloth average
cents per lb._
Prices, wholesale:
Print cloth, 38^-inch, 64 x 54cf cents per yard—
Sheeting, class B, 40-inch, 48 x 44-48<? -do
7
30.8
35.2
147
8
31.3
34.3
30.5
33.0
30.6
31.1
24.4
26.8
18.3
10.4
115.9
.445
67.7
18.3
10.9
9.2
.458
5.5
18.3
10.9
9.3
.466
5.5
18.4
10.9
U1.5
.460
2 6.8
18.3
10.8
7.4
.371
4.3
18.2
10.7
1.105
1.115
1.121
1.123
1.123
6,149
8
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-Filament yarn (100%) fabrics 9
do
Chiefly rayon and/or acetate fabrics
do
Chiefly nylon fabrics
do
Spun yarn (100%) fab., exc. blanketing 9 ..do
Rayon and/or acetate fabrics and blends
d o Polyester blends with cotton
do
Filament and spun yarn fabrics (combinations
and mixtures)
mil. lin. y d . . .
534
654
528
3
677
3
607
2
25.6
24.9
352
2
27.2
26.0
25.6
27.7
22.1
30.0
23.6
31.4
26.2
32.9
27.1
37.3
18.2
10.5
9.1
.455
5.2
18.4
10.5
2 11.6
.460
2 6.4
18.3
10.4
8.3
.416
4.7
18.4
10.4
2 11.6
.463
26.4
18.1
10.2
.444
5.1
18.2
10.5
211.0
.438
2
6.3
.464
5.2
18.1
10.0
9.3
.464
6.1
18.4
10.2
U1.6
.463
2 6.3
1.121
1.117
«1.107
1.103
1.105
1.107
1.127
1.147
1.174
22.7
22.0
22.6
23.2
24.0
4.1
3.8
3.6
3.2
3.2
1,277
22.7
17.8
17.7
18.0
24.8
18.6
18.8
19.3
4.5
4.1
4.1
3.9
3.9
5.6
4.0
3.8
3.8
.27
.18
.23
.22
.22
.23
.22
.20
.20
.18
.18
.17
.16
.14
.14
312.6
569.5
' 409.2
735.5
'32.2
69.1
33.8
55.5
35.8
71.4
29.7
63.1
34.2
67.9
31.3
51.7
39.0
64.6
34.0
63.6
36.0
46.0
32.3
68.0
30.7
46.4
38.3
59.4
38.0
56.0
45.10
52.12
45.38
47.29
50.10
52.12
63.81
58.64
61.65
60.52
59.10
56.91
57.27
16.8
22.2
18.1
8 25.0
18.0
24.0
18.3
24.0
18.3
18.3
18.3
18.3
18.3
18.3
25.0
18.3
25.5
19.5
28.0
20.5
4
18.3
<25.0
170.9
185.1
1,826.6
148.1
174.8
1,920.5
155.0
174.3
2,019.9
158.0
168.6
679.6
655.5
140.8
716.0
644.0
143.7
765.4
673.3
'152.5
812.1
717.8
163.4
""3376
117,405
205,485
9,311
13,177
9,568
17,506
8,501
17,312
8,194
17,351
10,533
15,713
8,429
14,625
10,034
18,979
10,054
17,810
13,463
22,212
14,122
23,831
14,205
27,654
18,196
25,082
20,794
27,438
249,819
175,306
249,948
157,857
13,172
11,980
17,173
13,952
18,358
13,577
21,484
13,114
26,279
16,771
13,307
14,622
28,804
13,527
20,452
13,575
26,738
12,604
22,097
14,929
22,692
14,504
19,277
10,329
65.2
40.7
61.6
61.5
64.7
36.4
63.7
51.9
61.6
61.5
50.9
297.6
252.9
89.7
293.7
298.1
'84.0
270.8
280.3
78.7
297.4
304.1
81.7
293. 7
298.1
'84.0
278.9
258.4
75.4
.62
.62
1.03
1.22
1.01
1.20
.62
1.03
1.22
.62
1.03
1.24
.62
1.03
1.24
.62
1.03
1.24
.62
1.04
1.24
.62
1.04
1.24
1.05
1.22
1.05
1.25
60.3
*.61
1.05
1.25
.61
1.02
1.26
.61
1.02
1.28
4,886.6
1,433.1
521.1
296.1
2, 773.9
5,530.9
1.723.0
506.2
377.0
3,062.6
, 384.2
438.4
126.2
97.2
758.4
1,335.6
410.4
115.6
94.8
741.2
1,468.1
452.9
124.5
1,540.6
478.8
126.1
99.6
878.5
381.8
1,998.5
428.2
2.190.1
106.7
544.0
105.7
536.5
112.5
602.6
115.4
629.1
450.5
515.4
127.6
130.7
120.0
127.5
mil. lb..
do
do
do
116.2
74.8
126.6
83.9
142.2
76.4
96.6
71.8
11.8
6.1
11.8
8.1
12.6
6.3
8.6
7.0
Wool prices, raw, clean basis, Boston:
Good French combing and staple:
Graded territory, fine_ _
Graded fleece, U blood
Australian, 64s, warp and half-warp
$ perlb—
do
—do
.664
.656
.802
1.157
.925
1.321
.944
.696
1.095
1.130
.895
1.133
15.5
2 7.3
6.3
4.3
9.0
4,2
9.9
8.0
12.6
5.8
10.7
7.8
»13.6
2 7.3
6.2
4.6
10.9
6.0
5.8
4.4
212.5
2 6.5
6.7
4.2
4.5
6.7
4.2
1.200
.962
1.270
1.270
1.025
1.230
1.275
1.025
1.289
1.350
1.043
1.500
1.455
1.165
1.672
1.635
1.310
1.771
1.650
1.325
1.975
108.2
111.5
113.4
122.7
119.9
126.4
8
WOOL MANUFACTURES
Knitting yarn, worsted, 2/20s-50s/56s, American
105.0
107.8
system, wholesale price
1967=100..
94.4 106.3
92.6
Wool broadwoven goods, exc. felts:
27.7
Production (qtrly.)
mil. lin. y d 113.3 102.2
Price (wholesale), suiting, flannel, men's and
boys', f.o.b. mill
.
1967=100..
' Revised.
* Season average.
2 jpOr 5 weeks; other months,
4 weeks.
s Less than 500
5
bales.
* Price not directly comparable with earlier data.
Revised total; revisions not
distributed
by
months.
«
Beginning
Aug.
1971,
net
weight
basis;
1971
average
is for Aug.7
s
9
Dec.
Avg. for Oct.-Dec.
Avg. for Nov.-Dec.
Season average based on sales
through May.
© Beginning Aug. 1971, prices are on 480-lb. net-weight bale basis (for
22.2
1.225
" 59.78
19.5
28.6
130,611
181,612
.61
30.2
41.5
1,384
16.9
WOOL
Wool consumption, mill (clean basis):
Apparel class..
Carpet class
Wool imports, clean yield._
_
Duty-free (carpet class).___
_
191
6
1,475
MANMADE FIBERS AND MANUFACTURES
Fiber production, qtrly. total.
.mil. lb_. 6,125.4 '7,293.6
752.7
Filament yarn (rayon and acetate)
do
653.1
Staple, incl. tow (rayon)..
do
611.7
713.2
Noncellulosic, except textile glass:
2,187.9 2,773.3
Yarn and monofilaments
...do
2,104.9 2,582.4
Staple, incl. tow
do.
Textile glass fiber.. _
do.
468.2
571.6
Exports: Yarns and monofllaments
thous. lb__
Staple, tow, and tops
___do_.
Imports: Yarns and monofilaments
do
Staple, tow, and tops
do
Stocks, producers', end of period:
Filament yarn (rayon and acetate)..
mil. lb—
Staple, incl. tow (rayon)
do
Noncellulosic fiber, except textile glass:
Yarn and monofilaments
do
Staple, incl. tow.__
do.
Textile glass
fiber
do.
110
5
163
4
31.7
35.6
275
26.6
2 12.6
2 5.9
7.7
.61
1.03
1.30
.61
1.05
1.31
5.1
7.2
4.7
9.6
4.2
i5.7
3.1
2 11.8
2 5.0
5.6
3.6
1.880
1.545
2.523
2.325
1.819
3.118
3.025
2.075
3.968
2.338
1.462
2.955
2.335
1.375
135.7
143.1
176.6
157.1
147.!
28.5
earlier months, on 500-lb. gross-weight bale basis); to compute comparable prices for earlier
months, multiply farm price by 1.04167 and market price by 1.0438.
t Effective with trie
Oct. 1972 SURVEY, series restated on an unadjusted basis.
9 Includes data not shown separately.
•
..
cf Effective Nov. 1972, specifications were changed: Print cloth, to 64x56; sheeting, to 47x44.
SUKVEY OF CURRENT BUSINESS
S-40
Unless otherwise stated in footnotes below, data
through 1970 and descriptive notes are as shown
in the 1971 edition of BUSINESS STATISTICS
1971
1972
1972
Annual
June 1973
Apr.
May
June
July
Aug.
1973
Oct.
Sept.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
TEXTILE PRODUCTS—Continued
APPAREL
Hosiery, shipments
_thous. doz. pairs-. 210,872 228,723 18,435 17,982 21,497 19,726 23,058 20,613 22,044 20,223 14,420 15,757 16,246 20,378 18,007
M en's "apparel, cuttings:%
Tailored garments:
Suits
thous. units.. 16,477
1,845
1,730
1,732
1,631
1,660
858
1,663
13,972
Coats (separate), dress and sport
do.
1,719
1,563
921
1,661
1,335
1,313
1,833
1,585
Trousers (separate), dress and sport
d o — 183,738
16, 544 16,379 16, 084 13,044 15, 861 15, 703 13,945 14,297
Shirts (wovene), dress and sport
thous. doz... 20,795
1,893
1,673
1,848
2,020 1,250
1,756
1,556
1,738
Women's, misses', juniors' apparel, cuttings:}
Coats
thous. units.. 20,690 20,109 1,123 1,535 1,850 1,647 2,072 1,896 2,170 1,947 1,418 1,392 1,332 1,492
234,153 231,423 22, 111 18, 661 21,374 14, 830 21, 661 18, 671 19,124 18, 272 14, 723 17,089 18, 744 20,864
Dresses
do
Blouses and shirts
_
thous. doz._ 12,639 16,386 1,336 1,257 1,419 1,334 1,630 1,493 1,628 1,329 1,244 1,485 1,589 1,722
Skirts..
dO-_-_
6,985
7,470
570
575
658
623
659
491
402
756
858
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
21,553
15,229
19,028
21,679
14,114
23,570
14,539
21,050
21,289
13,371
6,124
3,874
5,357
5,402
3,285
6,962
4,264
6,384
5,405
3,698
5,826
3,350
5,117
5,569
3,366
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. $-.
24,579
13,997
11, 999
2,281
26,860
15,165
12,974
2,580
25,046
14,615
12,404
2,422
26,603
15,181
12,733
2,599
26,860
15,165
12,974
2,580
Aircraft (complete):
Shipments
Airframe weight
Exports, commercial
4,780
5,277
4,869
5,231
5,277
3,274
2,951
2,771
2,995
2,951
do
2,973.9
thous. lb__ 48, 818
mil. $__ 11,906.8
3,231.8
47,694
1,608.7
344.5
4,930
189.4
192.9
2,815
76.3
270.0
3,785
102.5
" 390.6
• 5,435
182.5
364.6
5,462
325.2
433.5
7,062
205.0
289.7
4,316
128.2
223.7
3,175
85.6
226.9
3,485
105.3
994.3 1,079.0 1,025.4
940.0 1,020.2
968.8
779.1
842.9
804.2
736.9
798.0
761.6
215.2
236.1
221.2
203.1
222.2
207.3
532.3
505.1
411.9
393.6
120.3
111.4
552.4
516.5
398.5
371.0
153.9
145.5
774
125
'10.5
9.1
1.5
1,031
888
143
11.0
9.5
1.5
1,026
877
149
10.4
8.9
1.6
904
769
135
11.4
9.8
1.6
••813
656
'157
11.1
9.3
1.7
'879
741
138
'11.9
10.2
1.6
1,069
932
137
11.2
9.6
1.6
1,032
891
141
11.6
9.8
1.8
'848
719
128
11.1
9.2
1.9
876
736
140
12.1
10.2
1.9
920
775
146
12.3
10.3
2.0
1,143
964
179
13.2
11.2
2.0
1,024
863
162
12.1
10.2
1.9
1,145
972
173
1,782
1,628
1,781
1,606
1,751
1,540
1,393
1,373
1,263
1,488
1,300
1,485
1,288
1,492
1,313
1,473
1,311
1,454
1,528
1,535
1,649
1,563
1,652
1,493
1,654
1,480
1,648
1,452
1.8
1.6
1.7
1.7
34.93
31.18
12.76
53.32
48.59
15.50
51.06
46.94
14.80
219.15 246.53
89.82
74.65
13.37
12.17
13,622 ' 14,672
8,612
9,599
203.09
64.37
10.21
14,222
8,948
3,353
2,641
219.5
3,285
131.7
297.1
4,076
120.5
4,555
85.7
277.1
3,912
114.7
MOTOR VEHICLES
Factory sales (from plants in U.S.), total
Domestic
Passenger cars, total
Domestic
Trucks and buses, total.
Domestic
thous..
do
do
do
do
do
10,637.7 11,270.7
10,036.0 10,646. 8
8.584.6 8,823.9
8.121.7 8,352.5
2,053.1 2,446. 8
1,914.3 2,294.4
Retail sales, new passenger cars :
Total, not seasonally adjusted
thous.. • 10,250
8,681
DomesticsA
do
T
' 1,568
Imports A
do
Total, seasonally adjusted at annual rates,..mil _.
Domestics A
do
ImportsA
do
Retail inventories, new cars (domestics), end of
period: A
Not seasonally adjusted
thous..
Seasonally adjusted
do
1,447
1,590
' 10,949
9,327
r 1,622
1,311
1,454
1,050.2 1,135.6 1,111.0
987.1 1,066.0 1,048.9
859.3
895.7
873.4
808.8
841.7
827.4
190.9
239.9
237.5
178.3
224.3
221.5
907.6 1,164.3 1,108. 2 1,220. 0 1,096.5 1,226.3
852.6 1, 107.3 1,053.1 1,143.1 1,021. 5
855.1
706.0
941.2
844.0 2 941.0
900.5
815.5
666.2
882.8
786.6
859.8
253.2
201.6
278.7
252.5 "2~285.~3~
263.8
237.7
186.3
260.3
234.8
247.5
12.2
10.4
1.8
Inventory-sales ratio, new cars (domestics) A
ratio. .
Exports (Bureau of the Census):
Passenger cars (new), assembled
thous..
To Canada
do
Trucks and buses (new), assembled
do
Imports (Bureau of the Census):
Passenger cars (new), complete units
do
From Canada, total.
do
Trucks and buses, complete units
do
Truck trailers (complete), shipments
number
Vans
...do
Trailer bodies and chassis (detachable), sold
separately
number..
Registrations (new vehicles):©
Passenger cars
.thous
Imports, incl. domestically sponsored
do.. .
Trucks
do....
2.1
2.0
2.2
2.0
2.1
1.7
1.9
1.7
1.9
1.8
1.9
1.8
386.64
348.40
100.04
410.25
376.23
120.62
36.74
33.89
9.81
41.34
38.76
11.00
35.85
34.11
10.26
19.51
18.39
19. 50
18.04
8.24
45.89
43.40
8.93
46.36
42.49
11.58
38.06
34.04
12.70
39.10
34.40
11.91
36.76
31.47
13.13
209. 70 153.95
89.72 47.36
26.34 13.06
11,745 10,132
7,362 6,746
170.35
35.23
22.09
11,580
8,175
142. 98
58.41
14.64
11,635
7,934
198.80
74.99
14.72
13,383
8,900
229.71
86.87
22.84
11,140
7,476
204.92
67.92
15.14
12,220
8,228
235.42
87.36
18.93
11,633
7,524
2,322
2,895
3,442
3,444
3,208
3,550
3,385
2,587.48 2,485.90
842.30
802.28
160.87 « 238.70
103,784 141,143
95,281
65,785
18,509
33,664
216.15 258.70
83.25
82.59
25.14
19.29
12,100 12,874
8,078 8,538
2,763
2,782
2,069
« 9,729.1 »9,834.3 * 817. 2 3 865. 8 3 916.7 » 812.6 3 864.8 «743.4
* 1,465.7 «1,428.5 « 117.0 '121.3 3 126.4 3 116.1 3 144.1 «128.9
1*1,981.3 »2,410.5 « 201. 9 « 220.1 3 229.8 3 203.3 3 201.3 6177.0
3,748
8 838.5 8 869.1 8 913. 2 • 752.5 8 779.6 »904. 8 «882.1
6 116.5 8 122. 0 8 125.4 8 106.9 « 117.1 8145.1 8133. 8
U81.4 8 222. 6 8 239. 5 8193.8 8 202. 8 »245. 2 8 246. 5
RAILROAD EQUIPMENT
Freight cars (all railroads and private car lines):
Shipments
number.. 155,331
47,460
4,351
4,417
4,731
2,846
3,389 3,199
4,131 3,969 4,069
4,782 4,475
5,157
4,001
Equipment manufacturers
do
41,971
4,135
3,903 3,705 2,297
2,822 2,619
148,014
4,536
3,487 3,557 3,830
4,191
4,912
3,766
New orders
do
47,922
5,923
2,712 3,183
2,932 5,112
5,095
152,482
5,357
5,425
3,316
4,725
9,811
5,484 13,994
Equipment manufacturers
_
do
2,062 2,955 4,543 2,711
4,975 4,516
1 46,913 42,323
4,957
5,084 8,661
3,116
4,708
5.433 13,894
do.... 22,221
21,244 16,847 15,344 16,936 17,027 18,750 20,642 19,822 21,114 21,244 22,283 26,134 26,535 36,527
Unfilled orders,, end" of" period
Equipment manufacturers
do
17,666 11, 966 11,063 11,921 12,340 14,493 16,386 16,010 17,314 17,666 18,610 23,545 24,140 34,267
18, 753
Freight cars (revenue), class 1 railroads (AAR):§
Number owned, end of period
thous..
1,431
1,422
1,411
1,433
1,426
1,426
1,424
1,424
1,412
1,413
1,411
1,409
1,409
1,408
1,407
Held for repairs, % of total owned
5.8
5.6
5.9
6.2
6.0
5.9
5.9
6.0
5.9
5.8
5.7
5.9
5.7
5.9
5.8
Capacity (carrying), aggregate, end of period
99.07
mil. tons..
98.56
97.14
98.08
98.49
98.56
98.64
97.95 98.10
98.08
98.09
98.15 98.20 98.41
Average per car .
ton?..
69.24
68.78
68.29
69.53
69.09
69.19 69.27
69.35
69.44
69.53
68.97
69.61
69.64
69.74
69.83
2
' Revised.
i Annual total includes revisions not distributed by months.
Estimate
9 Total includes backlog for nonrelated products and services and basic research.
of production,
not
factory
sales.
3
Omits
data
for
three
States.
«
Omits
data
for
two
ADomestics
include
U.S.-type
cars
produced
in
the
United
States
and
Canada;
Imports
i e*u * 9 m i t s d a t a f o r 4 States.
« Effective Feb. 1972, imports include trucks valued
cover foreign-type cars and captive imports, and exclude domestics produced in Canada.
less than $1,000 each.
^Revisions appear in Census report, Men's and Women's Selected
©Courtesy of R. L. Polk & Co.; republicaticn prohibited.
Monthly Apparel Cuttings, 1970-72, Revised (MA-23A Supplement), Feb. 1973. Beginning
§ Excludes railroad-owned private refrigerator cars and private line cars.
1973, a new panel of items is planned for men's apparel; data are not presently available.
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, day, and glass products
Textile products
Transportation equipment
37
38
38-40
40
INDIVIDUAL SERIES
Advertising
11,16
Aerospace vehicles
4,40
Agricultural loans
16
Air carrier operations
23
Air conditioners (room)
34
Aircraft and parts
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
1,3-6,8,9,11,12,19,22,23,40
Balance of international payments
2,3
Banking
16,17
Barley
27
Battery shipments
34
Beef and veal
28
Beverages
8,11,22,23.26
Blast furnaces, steel works, etc
5-7
Bonds, outstanding, issued, prices, sales, yields
19,20
Brass and bronze
33
Brick
38
Building and construction materials
4-7,
9,10,31,36,38
Building costs
10
Building permits.
10
Business incorporations (new), failures
7
Business sales and inventories
5
Butter
26
Cattle and calves...
28
Cement and concrete products
9,10,38
Cereal and bakery products
8
Chain-store sales, firms with 11 or more stores. ..
12
Cheese
26
Chemicals
4-6,8,13-15,19,22-25
Cigarettes and cigars
30
Clay products
9,38
Coal
4,8,22,34,35
Cocoa
23,29
Coffee
23,29
Coke
35
Combustion, atmosphere, heating equipment
34
Communication
2,20,24
Confectionery, sales
29
Construction:
Contracts
10
Costs
10
Employment, unemployment, hours, earnings.. 13-15
Fixed investment, structures
1
Highways and roads
9,10
Housing starts
10
Materials output indexes
10
New construction put in place
9
Consumer credit
17,18
Consumer expenditures
1
Consumer goods output, index
3,4
Consumer price index
8
Copper
33
Corn
27
Cost of living (see Consumer price index)
8
Cotton, raw and manufactures
7,9,22,38,39
Cottonseed cake and meal and oil
30
Credit, short- and intermediate-term
17,18
Crops
3,7,27,30,38
Crude oil..
4,35
Currency in circulation
19
Dairy products
Debits, bank
Debt, U.S. Government
Department stores
Deposits, bank
Dishwashers
Disputes, industrial
Distilled spirits
Dividend payments, rates, and yields
Drug stores, sales
3,7,8,26,27
16
18
11,12
16,17,19
34
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
Electronic components
34
Employment estimates
13,14
Expenditures, U.S. Government
18
Explosives
25
Exports (see also individual commodities).... 1,2,21-23
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)
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
Hogs
28
Home electronic equipment
8
Home Loan banks, outstanding advances
10
Home mortgages
10
Hosiery
40
Hotels, and motor-hotels
24
Hours, average weekly
14
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, stoppages, 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
14,15
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
Nonferrous metals
4,9,19,22,23,33
Noninstallment credit
18
Oats
Oils and fats
Orders, new and unfilled, manufactures*
Ordnance
27
8,22,23,29,30
6,7
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
Passenger cars
1,3-6,8,9,11,12,19,22,23,40
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
Hastics 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, hours, earnings
13-15
Profits, corporate
2,19
Public utilities
2-4,9,19-21,25,26
Pulp and pulpwood
36
Purchasing power of the dollar
9
Radio and television
,
4,11,34
Railroads
2,15,16,20,21,24,40
Ranges
34
Rayon and acetate
39
Real estate
10,17,18
Receipts, U.S. Government
18
Recreation
8
Refrigerators
34
Registration (new vehicles)
40
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
2
Savings deposits
17
Securities issued
19,20
Security markets
20,21
Services
1,8,13-15
Sheep and lambs
28
Shoes and other footwear
9,11,12,30
SUver
19
Soybean cake and meal and oil
30
Spindle activity, cotton
39
Steel (raw) and steel manufactures
22,23,31,32
Steel scrap
31
Stock market customer
financing
20
Stock prices, earnings, sales, etc
20,21
Stone, day, glass products
4-6,9,13-15,19,38
23,29
Sugar
25
Sulfur
24
Sulfuric a c i d . . .
25
Superphosphate.
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
4 JJ
Trucks (industrial and other)
34,40
Unemployment and insurance
U.S. Government bonds
U.S. Government
Utilities
l3
»l£
16-18, 20
l
finance
5
2-4,9,19-21,25,26
Vacuum cleaners
Variety stores
Vegetable oUs
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.
J4
• • 11,12
23,29,30
7
»l Jo
flour
2,3,15
J*
JJ
a 5o
• • • •;; __ ; J
5,7,11,13-15
™
y oy
*
33
UNITED
STATES
GOVERNMENT PRINTING OFFI
PUBLIC
DOCUMENTS
DEPARTMENT
WASHINGTON. D.C. 20402
OFFICIAL
BUSINESS
Volume 53
Numbers 1-6
1973
CONTENTS—SURVEY OF CURRENT RUSINESS
DOMESTIC ECONOMY—Con.
DOMESTIC ECONOMY
No.
Business Capital Spending Expectations, 1973.
The U.S. Economy in 1972
Labor Force, Employment, and Unemployment
Personal Income
Consumption and Saving
Housing
Nonresidential Fixed Investment
Inventories
Exports and Imports
Federal Government
State and Local Government
Prices
Corporate Profits
Financial Developments
Financial Markets Tighten
Wages Under Collective Bargaining
State and Local Government Finance and Investment in 1972
Government Gross Fixed Capital Formation..
Federal Fiscal Programs
Inventory-Sales Ratios in Manufacturing and
Trade, 1961-72
Financial Developments
Business Investment
Corporate Profits
Consumer Demand
Recent Price Developments
Employment and Production
Investment Programs and Sales Expectations
for 1973
First Quarter Developments
Consumer Demand and Income
Measures of Labor Earnings
GNP by Major Industry, 1972
The Composition of Value Added in the 1963
Input-Output Study
First Quarter Profits
Page
1
1
11
12
1
1
1
1
1
1
1
1
1
1
1
1
2
2
13
15
17
18
19
21
22
23
24
25
26
27
2
4
2
2
2
6
7
18
2
3
3
3
3
3
3
41
1
2
3
3
5
6
3
4
4
4
4
16
1
3
4
19
4
5
34
1
No
2
4
13
14
3
INTERNATIONAL TRANSACTIONS
No.
Exports and Imports (in 1972)
Worldwide Sales by U.S. Multinational Companies
Foreign Direct Investments in t h e United
States, 1962-71
U.S. Balance of Payments Developments:
Fourth Quarter and Year 1972
Plant and Equipment Expenditures of U.S.Owned Foreign Affiliates: Revised Estimates
for 1972 and 1973
International Travel, Passenger Fares, and
Other Transportation in the U.S. Balance
of Payments: 1972
U.S. Balance of Payments Developments: First
Quarter 1973
Page
1
22
1
33
2
29
3
22
3
45
6
12
6
17
REGIONAL ECONOMICS
No.
Regional and State Personal Income Developments (1972-HI)
Regional and State Income Gains in 1 9 7 2 . . . .
Sensitivity of State and Regional Income to
National Business Cycles
Metropolitan Area Income in 1971
LATEST SUPPLEMENT—Business Statistics 1971 Biennial Edition (C56.109/2): Price $3.00
Page
National Accounts in the First Quarter
Orders and Backlogs in Durable Goods Manufacturing
Public and Private Debt
Residential Construction Boom, 1970-73
Revised Estimates of Federal Budget
1973 Plant and Equipment Expenditure Programs
Orders may be placed with the Superintendent of Documents, U.S. Government Printing
Office, Washington, D.C. 20402, or the nearest U.S. Department of Commerce Field Office.
Check or money order should be sent with orders.
Page
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17
22
23
@FedFRASER