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JUNE 1974 / VOLUME 54 NUMBER
SURVEY OF CURRENT BUSINESS
^^q
CONTENTS
U.S. Department of Commerce
THE BUSINESS SITUATION
Frederick B. Dent / Secretary
Current Housing Developments
2
Consumer Demand
3
Sidney L. Jones / Assistant Secretary
for Economic Affairs
Wages Under Collective Bargaining
4
Edward D. Failor / Administrator-, SESA
Revised Estimates of Federal Budget
1
Public and Private Debt—1968-73
8
National Income and Product Tables
13
1974 Plant and Equipment Expenditure Programs
17
U.S. Balance of Payments Developments: First Quarter 1974
21
CURRENT BUSINESS STATISTICS
General
S1-S24
Industry
S24-S40
Subject Index (Inside Back Cover)
Bureau of Economic Analysis
George Jaszi/Director
Morris R. Goldman/Deputy Director
SURVEY OF CURRENT BUSINESS
Editorial Board: Jack J. Bame, Robert E. Graham,
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Statistics Editor: Leo V. Barry, Jr.
Graphics Editor: Billy Jo Hurley
Contributors to This Issue: Jack J. Bame, Richard
D. Carter, William K. Chung, Eugene S. Kerber,
Donald A. King, Thomas W. Kraseman, Barbara
L. Miles, Evelyn M. Parrish, Charles A. Waite, and
John T. Woodward
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the BUSINESS SITUATION
EVIDENCE for April and May suggests that economic activity is expanding a little in this quarter.
Increases occurred in industrial production and employment in nonfarm
establishments, and the growth of
personal income accelerated.
The industrial production index increased an average 0.4 percent per
month, reversing the average 0.5 percent decline in the first 3 months.
Virtually all broad market categories
contributed to this increase, with
automobiles and equipment showing
the strongest gains.
As a result of a rebound in auto production, consumer goods output rose
an average 0.6 percent. The increase
in auto output averaged 8.1 percent,
in contrast to the average monthly
decline of 6.2 percent in the first
quarter. Total equipment production
increased an average 0.7 percent, after
remaining essentially unchanged in the
first quarter. Business equipment production rose at an average rate of 0.6
percent—double the first-quarter rate.
Commercial and transit equipment
production was unchanged; thus the
rise reflected output gains in the industrial categories. Defense equipment
production, which is highly volatile,
increased an average of 1 percent,
following an average decline of 0.8
percent in the first quarter. Materials
production also turned around; the 0.2
percent average monthly gain compares
with a decline of 0.6 percent per month
in the first quarter. This improvement
was confined to durable goods.
Nonfarm payroll employment increased an average 150,000 per month—
a modest gain, but more than double the
rate in the first quarter. The improvement was mainly in manufacturing.
It chiefly reflected the recovery in the
automobile industry and a strengthening in rubber and plastics industries
that resulted from the improved supply
of petro-chemicals. Employment was
little changed in other manufacturing
industries. Trade employment increased
somewhat more than in the first quarter,
and the rate of expansion in finance,
services, and government continued
about the same, but construction employment declined sharply. The average
workweek in manufacturing was about
the same in May as in the first quarter,
remaining much below last year's levels.
As measured in the household survey,
total employment has changed very
little since the beginning of the year.
Although nonfarm employment rose
moderately, after remaining unchanged
in the first quarter, the rise was offset
by a decline in farm employment. The
civilian labor force held at the firstquarter level, and unemployment remained steady, at about 5.2 percent.
In April and May, personal income
increased sharply in contrast to the
small increase in the first quarter. Total
income rose by an average of $9.8 billion
per month, more than doubling the
average monthly increase of $4.1 billion
in the first quarter. The sharp increase
was almost entirely attributable to
wages and salaries, but it also reflected
the 7 percent increase in social security
benefits that went into effect in April.
In the first quarter, reductions in employment and in average weekly hours
worked led to a decline in manufacturing payrolls of about $0.4 billion per
month. Employment increased in both
April and May and average hourly
earnings jumped sharply in May. As
a result, payrolls grew by an average
of $2.5 billion per month. Payrolls in
the rest of the private sector also improved substantially in April and May.
The sharp increases in average hourly
earnings, which contributed to higher
payrolls, were partially attributable to
large cost-of-living increases in some
industries (see "wages under collectivebargaining")- Other factors contributing to higher payrolls were increases in
the number of workers covered by the
Federal minimum wage law and in the
minimum wage rate.
Wholesale food prices have been
declining in recent months, but prices
of other commodities have continued
to rise sharply. The wholesale price
index for farm products and processed foods and feeds declined an
average 2.3 percent per month in
April and May, compared with an
average monthly increase of 0.9 percent
in the first quarter. Prices of industrial
commodities rose an average 2.8 percent, compared with an average 2.3
percent per month in the first quarter.
In part, these increases reflected the
selective lifting of price controls in
February and March and the ending
of all controls at the end of April.
The most important increases occurred
in the metals industries, where demands have been strong and where
many plants have been operating at
or near capacity for over a year.
Increases in prices of fuels and power,
which were very steep last fall and
winter, decelerated from the firstquarter rate.
In May, the fuels component of the
industrials index was revised to measure
a larger part of the petroleum market.
Before the revision, this component
was based on spot market quotations,
which, in recent months, have come to
represent a small and declining portion
of domestic transactions; the component is now based on industry
revenue and production figures. The
effect of the revision is to lower both
the level and the rate of increase of
the fuels price index.
In the consumer price index, food
prices declined 0.4 percent in April
(the latest month for which data are
1
SURVEY OF CURRENT BUSINESS
available) after rising 1.5 percent per
month in the first quarter. Most of
this decline was concentrated in meat
prices. Prices for nonfood commodities
rose 1.1 percent in April, a little below
the first-quarter average. The services
index increased 0.6 percent, also about
the same as in the first quarter.
Current Housing Developments
LATE last year and early this year, an
easing in money and credit markets
gave rise to the expectation that residential construction would begin to
recover this spring and contribute sig-
CHART 1
Residential Construction and
Mobile Homes
Million units (Ratio scale)
• Apr-May Avg
, , , 1 , ,, I , , , I, , , 1 , , . 1 , , , 1 ,, , 1. , . I , , , 1
MOBILE HOME SHIPMENTS
nificantly to demand expansion in the
second half of the year. However, the
sudden surge in interest rates since last
February has set back the prospects
for such a recovery and made the outlook uncertain.
High interest rates are once again
leading savers to divert funds from the
thrift institutions. In April, savings
before interest crediting declined $650
million at mutual savings banks and
$335 million as savings and loan associations. Preliminary May data indicate a further decline of nearly $200
million at mutual savings banks. These
outflows were the first since the height
of the credit stringency last summer
and followed an $8.2 billion increase
in deposits from December to March.
With savings flows threatened, thrift
institutions have become reluctant to
make new mortgage commitments, and
this has contributed to the rise in mortgage interest rates. From February to
May, the yield on FHA new home mortgages increased 92 basis points to a
record 9.46 percent.
The availability of mortgage credit,
particularly that extended to builders
of multifamily units, is also threatened
by serious financial problems currently
facing real estate investment trusts.
The REIT's raise funds by sales of
stock and by credit market borrowings
and relend to developers and builders
of large projects; in the past few years
June 1974
REIT's have become an important
source of construction loans, accounting
last year for about one-fifth of mortgage
lending for multiunit housing. In the
past several months, builders, facing
steeply rising financing and construction costs and prolonged weakness in
the housing market, have been defaulting on their debt to the REIT's.
Rising defaults have weakened the
financial position of the REIT's and,
as a result, they are cutting back on new
lending.
Housing activity
Housing starts averaged L54 million
units at a seasonally adjusted annual
rate in April and May, a little below the
average of 1.63 million units for the
first quarter and one-third below the
highs of early 1973. Sales of new onefamily homes increased in the first
quarter for the first time in more than
a year, in part because of the temporarily easing of credit conditions (table
1). As a result, the ratio of homes for
sale to homes sold fell a little, the first
decline in 3 years, and the very large
inventory of unsold homes appeared to
be less of a deterrent to new singlefamily starts. However, tight money
conditions will have an adverse impact
on sales and the overhang of unsold
homes will present a serious obstacle
to a starts recovery.
In the rental market, the national
vacancy rate rose to 6.2 percent in the
first quarter, from 5.8 percent last year
(table 1). The rise was sharpest in the
South, where homebuilding has been
strongest in recent years. The vacancy
rate will probably increase further as
the very large number of units in
apartment-type buildings are corn-
Table 1.—Selected Measures Relating to New Home Sales and Rental Apartments
1972
1974
1973
I
II
57
318
5.5
58
353
5.9
62
382
6.1
Vacancy rate.
5.3
Units in apartment-type buildings under construction. 715.8
55
780.0
58
823.5
III
IV
I
II
63
407
6.5
61
426
7.1
67
436
7.8
56
862.9
57
907.3
58
951.8
IV
IP
47
453
9.7
40
446
11.3
44
453
10.6
58
975.1
58
932.4
6 2 i
878.8
III
Single-family market: (seasonally adjusted)
Average monthly sales rate (thousands) _ _
Inventory of unsold homes (thousands)
Average monthly ratio of homes for sale to homes sold.
.2
Rental market: (not seasonally adjusted)
| . , , I, , , I . . , I . , . I i i i I
.15
1965
66
67
68
69
70
71
72
73
74
Seasonally Adjusted at Annual Rates
Data: Census
U.S. Department of Commerce, Bureau of Economic Analysis
74-6-1
* Preliminary.
NOTE.—Series are averages for the quarter except for inventories and units under construction, which are end of period.
Source: U.S. Department of Commerce, Bureau of the Census.
June 1974
pleted. The backlog of uncompleted
units was 880,000 units in the first
quarter, down only moderately from
the peak of 975,000 in the summer of
last year. Further evidence of slack in
the rental market is provided by the
market absorption rate of apartments
in newly constructed buildings. The
percentage of apartments completed in
the fourth quarter and rented within
the next 3 months fell below the yearearlier rate. This was the first year-overyear decline since the summer of 1972,
but its extent was small.
New Federal assistance
In early May, the administration
announced a series of programs intended to support the housing market:
The Federal Home Loan Banks were
authorized to make $4 billion in
advances to the savings and loan
associations at relatively low interest
rates; the Federal Home Loan Mortgage
Corporation was authorized to buy $3
billion of conventional mortgages at
8.75 percent; and, the "Tandem" plan,
which provides a secondary market for
federally backed mortgages, was expanded by $3.3 billion. In total, these
programs could provide $10.3 billion
for housing, but the actual extent of
support will be determined by the use
lending institutions and builders make
of them.
Of the three programs, the FHLB
advances are the most likely to be used.
However, the S&L's already owe a
record $16 billion to the Federal Home
Loan Bank System, and they may be
reluctant to increase their indebtedness
by the full $4 billion. Moreover, even
the funds that are borrowed could be
invested in higher yielding money
market assets rather than mortgages.
The FHLMC support of conventional
mortgages will not take effect until
late this year, and the extent to which
these funds will be used will depend on
the level of mortgage market interest
rates at that time. There probably will
not be much help this year from the
new expansion of the 'Tandem" plan.
About $4 billion of the $6.6 billion
expansion authorized last January has
not been used, and those funds must
be spent before the new authorization
becomes effective.
SURVEY OF CURRENT BUSINESS
Consumer Demand
THE dollar value of retail sales has May, they are still 25 percent below
risen steadily since January, but the their year-earlier level.
increases have only matched the rise
in consumer prices; thus physical vol- Installment credit
ume is unchanged. In April arid May,
Net extensions of consumer installretail sales averaged $44.2 billion or ment credit—total extensions minus
2 percent more than in the first quarter, repayments—rose sharply in April after
but prices, as measured by the con- seasonal adjustment. The increases
sumer price index for commodities, were chiefly in credit for consumer
also rose by about 2 percent.
goods other than automobiles and in
personal
loans. Automobile credit reAutomobile sales, which had demained
weak,
although it rose slightly,
clined steeply as the energy crisis
in
contrast
to
declines in the winter
deepened last winter, have strengthened
months
(chart
2).
recently, but other retail sales appear
to have declined in real terms. New
car sales were at an annual rate of 9.4
million units in April and May, an
CHART 2
improvement from the 9.2 million
Net Change in Consumer Installment
rate in the first quarter. All of the
increase was in sales of domestic-type
Credit Outstanding
models, which rose from 7.7 million
Billion $
units in the first quarter to 8.1 million
in April and May; sales of foreign cars
have declined steeply all year and
averaged 1.2 million units in April
and May, as compared with 1.6 million
in the first quarter. When deflated
by corresponding components of the
CPI, sales of automobiles and parts
were higher in April and May than in
the first quarter, but sales of other
durables and nondurables were lower.
The weakening in the real volume of
retail sales began in the spring of last
16
OTHER CONSUMER GOODS
year and accelerated in the fourth and
PAPER
first quarters. Sales in April and May
12
were about 4 percent below the year
earlier level. The cutbacks since last
year have been chiefly in categories
with the largest price increases—gasoline and fuel and food. The decline in
the latter in part reflects a shift away
from higher priced foods. For goods
that had relatively moderate price in12
PERSONAL LOANS AND OTHER*
creases, such as household durables and
apparel, the real volume of retail sales
was about unchanged or a little higher.
The major exception was automobile
sales. (For a discussion of recent trends
in automobile sales, see the May issue
of the SURVEY.) While automobile price
1964
66
68
70
72
74
Seasonally Adjusted at Annual Rates
increases were moderate in the past
Includes repair and modernization loans.
year, sales declined steeply. Although
.April
Data: FRB
new car sales improved in April and U.S. Department of Commerce, Bureau of Economic Analysis
74-6-2
SUKVEY OF CUEEENT BUSINESS
Table 2.—Extensions and Repayments of
Installment Credit as a Percent of
Disposable Personal Income
[Percent]
Extensions
Repayments
16.18
15.96
16.92
17.20
16.21
16.66
17 9"4
18.71
15.14
15.37
15.51
15.73
15.50
15.42
15.92
16.43
1973-1
19.07
18.88
19.09
17.91
16.25
16.57
16 73
16.25
1974-1
17.64
16.70
1966
1967
1968
1969
1970
1971
1972
1973
II . .
III
IV
NOTE.—Quarterly figures are based on seasonally adjusted
data.
Source: Federal Reserve Board of Governors.
During the past year, net consumer
credit extensions largely reflected the
movements in automobile sales. Not
until the first quarter of this year,
after unemployment had risen sharply,
did the drop in credit extensions spread
to other types of loans.
Extensions amounted to 17.6 percent
of disposable personal income in the
first quarter, down from the record 19.1
percent in the summer of last year.
Repayments, however, amounted to a
record 16.7 percent of income, the same
as last summer. Faced with this high
debt repayment ratio, rising unemployment, and steep increases in prices of
necessities, consumers have encountered
greater difficulty in meeting their debt
obligations, and delinquencies have increased. According to data compiled by
the American Bankers Association, the
proportion of bank installment loans
with payments overdue for 30 days or
more reached about 2% percent of loans
outstanding in the first 4 months of this
year. Normally, this rate is about 1%
percent, and it has rarely exceeded 2
percent.
Wages Under Collective Bargaining
UNION contract negotiations in the
first quarter of this year reflected union
efforts to mitigate the adverse impact
that inflation is having on workers' real
income. Contract settlements included
higher first-year wage increases and
lower deferred increases, bigger wage
gains and smaller fringe benefits improvements, and, in a number of important contracts, liberalized formulas for
calculating cost-of-living adjustments.
The first-year wage gain negotiated
in major collective bargaining agreements (those covering 1,000 or more
workers) averaged 6.2 percent in the
first quarter, compared with 5.8 percent
for the year 1973 (table 3). It was the
largest quarterly increase in more than
a year, and the first to exceed the average of the preceding four quarters since
late 1971—the beginning of the steep
downtrend in the size of settlements.
The increase was higher than last year's
average in both manufacturing and
nonmanuf acturing industries other than
construction, and equal to last year's
average in construction.
The increase in the size of first-year
wage settlements represented a rise in
front loading—that is, providing for a
disproportionate share of the total
increase in the first contract year. Deferred increases—those specified for
future years—were smaller than in
1973, but the size of wage settlements
averaged over the life of the contract,
at 5.3 percent per year, was about the
same. The difference between the firstyear wage increase and the average over
the life of the contract amounted to
nearly 1 percent, up from roughly onehalf of one percent in 1973.
Front loading had reached a peak in
1970 and 1971, when first-year increases exceeded life-of-contract gains
by 3 to 3% percentage points. Heavy
front loading reflected union efforts to
catch up with the rapid and unexpected price increases that had
Recurred during the life of the expiring
contracts, most of which were negotiated in 1967 and 1968. After 1971, the
n^ed for such raises lessened, because
the rate of inflation slowed and because
substantially more workers were
covered by cost-of-living clauses providing automatic pay raises tied to the
consumer price index. In addition, wage
June 1974
controls introduced in mid-1971 principally affected first-year increases.
When prices rise rapidly, unions
attach greater importance to increased
paychecks than to fringe benefits, such
as vacations, sick leave, and health and
pension plans; this was evident in firstquarter settlements. In 1972 and 1973,
the value of settlements including
benefits exceeded that of settlements
excluding benefits by about 1.3 percentage points for first-year increases
and 1 percentage point for life-of-contract increases. In the first quarter of
1974, however, these differences were
appreciably less (table 3).
Changes in the value of fringe benefits
cannot be measured directly, mainly
because in the available data they are
combined with wage changes. In addition, data relating to fringe benefits are
confined to collective bargaining settlements covering 5,000 or more workers.
Nevertheless, for a rough indication of
the trend in fringe benefits, contract
settlements combining wages and benefits can be compared with those covering wages alone.
Improvements in cost-of-living escalator clauses were an important element
of first-quarter negotiations. In several
large contracts, the formulas were
changed to provide a larger increase in
wages for a given increase in the consumer price index. In many cases,
limits to the size of cost-of-living increases were removed. However, the
number of workers covered by cost-ofliving escalator clauses remained at
about the 4 million level of the past 3
years, or 40 percent of all workers
under major contracts. Unions in the
can and aluminum industries, in addition to gaining substantial improvements in their cost-of-living escalator
clauses, negotiated a major innovation
for industrial contracts by extending
these clauses to cover pensions.
The steel contract settlement
The steel industry's contract settlement was announced in mid-April, 3K
months before the existing contract
expired. The new contract, which took
effect on May 1, extends 39 months
through July 31, 1977. Settlement
was negotiated under the provisions
SURVEY OF CURRENT BUSINESS
June 1974
Table 3.—Wage and Benefit Changes Negotiated in Major Collective-Bargaining Agreements, 1968-74
[Percent]
1968
1969
1970
1971
1972
1973
1974
I
Wage changes 1
First year ^ Life of contract. _
- _
^
.
_
.L. ..
Front loading (first-year increases less life-of-contract
increases)
_. .. _
7.4
5.9
9.2
7.6
11.9
8.9
11.6
8.1
73
6.4
5.8
5.2
6.2
5.3
1.5
1.6
3.0
3.5
.9
.6
.9
8.7
65
10.9
8.2
13.1
9.1
13.1
8.8
8.5
7.4
7. 1
6.1
6.9
5.9
2.2
2.7
4.0
4.3
1.1
1.0
1.0
1.3
.6
1.7
.6
1.2
.2
1.5
.7
1.2
1.0
1,3
.9
.7
.6
Wage and benefit changes 2
First year ^ ^
Life of contract _ . .
.
....
Front loading (first-year increases less life-of-contract
increases)..
_
Wage and benefit changes less wage changes
First year
Life of contract _
_.
_ -
_
1. In contracts covering 1,000 or more workers.
2. In contracts covering 5,000 or more workers.
Source: U.S. Department of Labor, Bureau of Labor Statistics.
of the Experimental Negotiating Agree- effect on August 1, 1975, were reducing
ment (ENA) reached last year between the retirement age from 65 to 62, subthe United Steelworkers of America, stantially increasing the pension of
AFL-CIO, and the 10 largest steel new retirees, and raising the pensions of
firms. ENA, which has been extended prior retirees.
through the 1977 negotiations, in- The steel industry followed the lead
cludes a no-strike stipulation and a of the can and aluminum industries in
provision for binding arbitration to adopting a liberalized formula for
settle unresolved issues, a guarantee calculating pay increases under the
of at least a 3 percent annual wage cost-of-living escalator clause. The new
increase, a bonus of $150 each time the contract provides a 1 cent per hour
contract is renewed, a continuation increase for each 0.3 of a point increase
of a cost-of-living escalator clause, in the consumer price index; under
and a retention of the right to strike the old contract, the rate was a 1 cent
on local issues. The ENA and the per hour increase for each 0.4 of a
early settlement were negotiated in point increase. This gain, however, was
an effort to avert production disruptions partly offset by a shift in the CPI base
that have characterized other years of period to 1967 from the prior base of
steel contract negotiations.
1957-59, when the level of prices was
Both wages and fringe benefits negoti- 14 percent lower. Hence the number
ated in the steel settlement appear to of index points represented by a given
be more generous than the average of percentage rise in the CPI is also 14
first-quarter settlements. Although the percent smaller on the 1967 base. The
wage increase over the life of the net effect of the two changes is to
contract was roughly the same as the increase the size of the wage gain for
5.3 percent negotiated in other in- a given percentage rise in the CPI by
dustries, the amount of front loading about 15 percent.
was larger; the first-year increase was
A major steel union goal had been
roughly 7 percent, compared with a 6.2 to extend cost-of-living adjustments
percent average for all major settle- to pensions—a change that was adopted
ments in the first quarter. Fringe in the can and aluminum settlements.
benefits included improvements in sick The steel industry settlement did not
and accident pay, supplementary un- include this change, although it did
employment compensation, and several provide for a flat 5 percent "inflation
smaller items, plus the introduction of adjustment" in August 1976 for ema company-paid dental plan. The princi- ployees retiring on or after July 31,
pal retirement plan changes, which take 1974.
Collective bargaining
mainder of 1974
in the re-
The number of workers covered by
contracts scheduled for negotiations in
1974 is the largest in recent years. Approximately 5.2 million workers in
private nonfarm industries are covered
by major agreements either expiring or
scheduled for reopening in 1974; this
figure compares with 4.7 million last
year, 2.8 million in 1972, and 4.8 million
in 1971. Agreements reached in the first
quarter covered only 466,000 workers—
less than 10 percent of the year's expected total—in 118 settlements.
The most important industries and
the number of workers involved in negotiations during the remaining three
quarters of 1974 are: clothing in May
(125,000), construction from May to
September (800,000), telephone communications in July (600,000), nonferrous metals from June to December
(115,000), longshoring in September
(38,000), aircraft in September and
October (78,000), coal mining in November (80,000), and railroads in December (500,000).
The large number of workers involved
in negotiations this year is partly due
to the expiration of major 3-year contracts—the normal duration—settled in
the heavy bargaining year of 1971. It is
also due to a trend toward shorter contracts in recent years. Agreements
reached in 1973 averaged 28 months in
length, compared with 32 months at
the time of their previous settlement.
The shortening was principally in the
construction and railroad industries,
where unions became unwilling to make
long-term commitments under a wage
control system that they thought might
last for only a brief period.
The climate for collective bargaining
for the rest of this year is notably
different from that of the past 3 years.
Since wage and price controls expired
on April 30, no official restraints on the
size of contract settlements exist for
the first time in 3 years. This termination of controls, combined with the
erosion of workers' real incomes by
inflation, could result in much larger
wage demands. However, several factors
may hold down the size of settlements.
First, since the unions involved in some
SUEVEY OF CURRENT BUSINESS
of the negotiations, notably in the
communications industry, already have
cost-of-living escalator clauses, they
are likely to settle for moderate wage
increases. Second, settlements in the
construction industry may be tempered
by the slack in homebuilding. Third,
high unemployment could also affect the
size of wage increases in the aircraft
industry; in addition, increases for
aircraft workers tend to follow patterns
set in the automobile industry, where
the increases negotiated last fall were
relatively moderate.
Union leaders who will be negotiating
new contracts during the rest of this
year have stated that improvements in
cost-of-living protection, both to extend coverage and to liberalize existing
terms, will be a major goal in bargaining. Roughly two-thirds of the workers
whose contracts are to be negotiated
in the final quarters of 1974 are not
covered by cost-of-living escalator
clauses.
Effective wage increases under union
contracts in 1973
The size of wage increases currently
negotiated is one of three determinants
of the total wage increase received by
union workers in a given year. The
others are deferred increases—those
specified for the current year by agreements made in prior years—and automatic cost-of-living increases resulting
from escalator clauses in existing contracts (table 4).
These wage increases may be calculated in two ways: (1) as an average
for all of the workers covered by major
contracts, including the workers who
received no increases, or (2) as an average limited to those who received increases. The first type of average shows
the effect of union bargaining activity
as a whole on the average wage of all
union members. Figures of this type
appear in the top half of table 4. The
second type of average measures the
effect of settlements on only the workers
covered by the settlements. Figures for
this group are shown in the lower half
of the table.
In 1973, the change for all workers
covered by major union agreements in
force was 7 percent, compared with 6.6
percent in 1972 and 9.2 percent in 1971.
June 1974
Table 4.—Wage Changes Becoming Effective During the Year Under All Major Union
Contracts in Force, 1968-1973
[Percent]
1968
1969
1970
1971
1972
1973
All covered workers 1
Totftl effective wage change
First year
Deferred
Cost-of-living
- -
6.0
3.2
2.4
.3
-
6.5
2.4
3.8
.3
8.8
5.1
3.1
.6
9.2
4.3
4.2
.7
6.6
1.7
4.2
.7
7.0
3.0
2.7
1.3
Workers actually receiving increases 2
First year
Deferred
Cost-of-living
..
Increase in consumer price index annual average
7.4
n.a.
1.6
9.2
n.a.
1.6
11.9
5.6
3.7
11.6
7.8
3.1
7.3
6.1
2.0
5.8
4.9
4.1
4.2
5.4
5.9
4.3
3.3
6.2
NOTE.—Major union contracts are those covering 1,000 or more workers,
n.a.—Not available.
1. These averages apply to all workers covered by union agreements in force during the year, including agreements not
providing a wage change.
2. These averages are'limited to workers covered by union agreements that pro vide for a wage change of the type specified.
Each of the averages is calculated independently from the others; thus, workers receiving two types of increase are counted in
both categories.
Source: U.S. Department of Labor, Bureau of Labor Statistics.
Since each of the three types of wage
increase is calculated as a percentage
of the same initial total wage bill, the
three elements can be added together
to obtain the total wage increase becoming effective during the year. In 1973,
for instance, the 7 percent total increase
was made up of first-year increases of 3
percent, deferred increases of 2.7 percent, and cost-of-living increases of 1.3
percent.
In this calculation, the average size of
each of the three types of wage increase
depends on the number of workers who
received the increase, as well as on the
size of the increase they received. Since
many more workers were covered by
contract negotiations in 1973 than in
1972, the first-year wage gain was much
larger and the deferred increases were
much smaller. The total of first-year
and deferred increases was a little
smaller in 1973, and the rise in the total
effective wage increase from 1972 was
therefore attributable to the sharply
higher cost-of-living adjustment.
In the second method, which is the
more familiar way of presenting wage
increases, each of the three types of
increase is calculated as a percentage of
the total wage bill of only those workers
who received the increase (workers who
received two types of increases are
counted in both categories). Hence, a
total percentage wage increase broken
down into its three components cannot
readily be calculated on the basis of the
available data. Because workers not
receiving an increase are omitted from
these calculations, the averages are
necessarily much larger than those for
all union workers. On this basis, both
first-year and deferred increases were
smaller in 1973 than in 1972, but the
increase due to cost-of-living escalator
clauses was twice that of 1972.
Since deferred increases are specified
in contracts already in effect, the
average for this type of increase is the
one element of the total effective wage
change that can be calculated in advance. Deferred wage increases are
scheduled this year for some 4% million
workers covered under major contracts;
this is about the same number as last
year. For these workers, the average
size of the increase will be 5.0 percent,
or about the same as in 1973. The size
of deferred increases, like that of firstyear gains, has diminished since 1971;
in that year, they averaged a record
7.8 percent (table 4). About 2 million
of the workers receiving deferred increases this year are also covered by
cost-of-living escalator clauses; for these
the average deferred increase will be
4.5 percent, while for workers under
contracts without such clauses the
average will be 5.4 percent.
While the size of the cost-of-living
wage increase this year cannot be
calculated in advance, the rise that
will be associated with a given increase
in the consumer price index can be
SURVEY OF CURRENT BUSINESS
June 1974
approximated from relationships in the
past 4 years. In each of those years,
the average cost-of-living wage increase for workers receiving an increase
was roughly two-thirds of the rise in
the annual average of the consumer
price index (table 4). The ratio this
year could be a little higher, given the
recent liberalization of the escalation
formula in a number of major contracts.
month, compared to $4.7 billion estimated in February. Receipts, mainly
corporate income taxes, are revised
down $4.0 billion; outlays, principally
because of lower-than-estimated health,
defense, and education spending and
higher prices for offshore oil leases, are
revised down $5.2 billion.
On a full-employment basis, OMB
now projects a unified budget surplus
offset decreases attributable to higher- of $9.0 billion in 1975 and $8.0 billion
than-expected offshore oil receipts ($3.0 .in 1974, compared to February estibillion) and asset sales ($0.8 billion). mates of $8.0 billion and $4.0 billion.
(The last two items are counted as
negative outlays in the unified budget.) NIA Federal sector
The new estimates reflect administraOMB also prepared revised estimates
tion proposals for cost-of-living in- of the Federal sector of the national
creases for veterans and for extension income accounts (NIA) consistent with
of unemployment benefits, higher in- the new unified budget estimates. On
terest rates, and higher prices and in- the NIA basis, 1975 receipts are $0.5
creased acreage for offshore oil leases. billion lower than the February esOutlays could increase even more if timate, expenditures are $3.7 billion
interest rates remain high. According higher, and the deficit is $4.2 billion
to OMB, the administration's plan to higher.
assist the slumping housing market by
Indirect business taxes, largely besubsidizing mortgages at below-market
interest rates could raise fiscal 1975 cause of the Ways and Means Comoutlays by an additional $3 billion, mittee's proposal on the windfall profits
depending on the level of long-term tax, were revised down $3.5 billion;
other NIA receipts categories were
interest rates.
The new estimates show a deficit of revised up, including corporate tax
$3.5 billion for the fiscal year ending this liabilities ($1.7 billion) and contribu-
Revised Estimates of Federal Budget
REVISED estimates of Federal unified budget receipts and outlays were
released in mid-May by the Office of
Management and Budget (OMB). The
new estimates must be considered tentative, largely because congressional
action had not been completed on the
fiscal 1975 appropriation bills or on
significant items of proposed legislation
affecting the budget.
The revised estimates are based on
a projected calendar 1974 GNP of
$1,401 billion, $11 billion above the
figure underlying the February budget.
Personal income is estimated at $1,142
billion, up $7 billion, and corporate
profits before taxes are now estimated
at $134 billion, compared to $124 billion
projected in February.
Higher fiscal 1975 deficit estimated
For fiscal 1975, an $11.4 billion deficit
is now estimated, compared to $9.4
billion in February.
Receipts are revised down $1.0 billion, the net result of a $3.5 billion
downward revision in corporate tax
collections and a $2.5 billion upward
revision in other taxes, primarily individual income taxes. The lower corporate tax estimates are due to two
factors of approximately equal magnitude: (1) the House Ways and Means
Committee's modification of the administration's proposed windfall profits
tax, and (2) actual tax collection experience this year. (The Committee's action phasing out the percentage oil
depletion allowance has a negligible
effect on fiscal 1975 collections.) The
increased estimate of individual income
taxes is primarily due to higher inflation.
Fiscal 1975 outlays are estimated
$1 billion higher than in February. Increases attributable to higher unemployment benefits ($1.6 billion), interest
costs ($1.0 billion), and veterans compensation ($0.4 billion) more than
Table 5.—Federal Government Receipts and Expenditures
[Billions of dollars]
Fiscal year 1974 estimate
Fiscal
year
1973
actual
As of
As of
February
budget
Fiscal year 1975 estimate
May
Revision
February
budget
May
Revision
Unified budget:
Receipts
Outlays
_
Surplus or deficit (— )
Full-employment surplus or deficit (— )
232.2
246.5
-14.3
270.0
274.7
-4.7
266.0
269.5
-3.5
-4.0
-5.2
1.2
295.0
304.4
-9.4
294.0
305.4
-11.4
—1.0
1.0
-2.0
-2.0
4.0
8.0
4.0
8.0
9.0
1.0
243.3
107.2
43.8
20.9
71.4
255. 1
104.5
73.9
30.6
89.4
86.8
2.6
280.5
123.7
50.3
23.3
83.2
285.2
111.5
75.3
36.2
107.2
102.5
4.7
278.2
122.4
51.1
21.5
83.2
278.8
109.8
75.0
34.8
104.5
101.9
2.6
-2.3
-1.3
.8
-1.8
.0
-6.4
-1.7
-.3
-1.4
-2.7
-.6
-2.1
304.8
135.3
50.2
27.5
91.8
313.4
121.6
82.0
39.6
123.5
120.7
2.8
304.3
135.4
51.9
24.0
93.0
317.1
121.2
82.0
39.2
125.8
123.0
2.8
-.5
.1
1.7
-3.5
1.2
3.7
—.4
.0
-.4
2.3
2.3
.0
National income and product accounts basis:
Receipts
Personal tax and nontax receipts
Corporate profits tax accruals
Indirect business tax and nontax accrualsContributions 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 .
_.
Less: Wage accruals less disbursements. —
Surplus or deficit (— )
40.4
14.4
44.1
18.2
42.6
17.6
-1.5
-.6
46.6
19.6
48.0
19.6
1.4
.0
6.4
.0
-11.8
4.2
.0
-4.7
4.2
—.1
-.6
.0
-.1
4.1
2.1
.0
-8.6
2.1
-.4
-12.8
.0
-.4
-4.2
Full-employment surplus or deficit (— )._
-2.8
5.8
13.2
7.4
13.3
12.9
-.4
Sources: Actual 1973, U.S. Department of Commerce, Bureau of Economic Analysis; 1974 and 1975 estimates, Office of
Management and Budget and Council of Economic Advisers.
SURVEY OF CURRENT BUSINESS
8
tions for social insurance ($1.2 billion).
(The OMB estimates of fiscal 1974 and
1975 corporate tax liabilities—$51.1
billion and $51.9 billion, respectively—
extrapolate from currently published
BE A levels; however, based on preliminary calculations for the forthcoming July revision of the NIA, it is
likely that current levels of corporate
tax liabilities will be revised downward
substantially.) On the expenditures side,
the upward revision occurs in transfer
payments to persons ($2.3 billion) and
grants-in-aid to State and local governments ($1.4 billion). Other NIA categories show only minor changes and,
on balance, do not affect the revision in
total expenditures.
For fiscal 1974, NIA receipts are
$2.3 billion lower than those in the
February estimate, expenditures are
$6.4 billion lower, and the deficit is
$4.1 billion lower. Almost all NIA expenditure categories—purchases, transfers, grants, and interest—are revised
down. (About $2 billion of the downward revision in expenditures is attributable to a different statistical treatment
of the February transfer of rupees to
India. In the February budget estimates, it was included in NIA expenditures as a foreign transfer; in the May
estimates, it is excluded from NIA
expenditures as a capital grant.)
June 1974
On a full-employment NIA basis, the
Council of Economic Advisers estimates
a surplus of $12.9 billion in 1975 and
$13.2 billion in 1974. In February, the
Council had estimated $13.3 billion
and $5.8 billion, respectively.
Public and Private Debt-1968-73
NET public and private debt totaled
more than $2% trillion at the end of
1973. Public debt—liabilities of Federal, State, and local governments—
amounted to 23% percent of the total;
corporations were liable for 44 percent,
and individuals, including those owning
unincorporated enterprises, were liable
for 32% percent.
The increase in net public and private
debt last year was $256 billion, or 11 %
percent—more than the $224 billion,
or 11 percent, increase in 1972. The
acceleration centered in corporate and
in public debt; individuals added about
the same total to their indebtedness in
both years.
Corporations added $133 billion, as
compared with $109 billion in 1972. The
acceleration occurred in the short-term
instruments; these increased $90 billion,
as compared with a rise of $60 billion
in 1972. The increase in long-term debt
slowed to $43 billion from $49 billion
in 1972.
The acceleration in public debt reflected a marked increase in the outstanding liabilities of Federal financial
agencies. These rose $18% billion in
(Continued on page 17)
Net and Gross Public and Private Debt, End of Calendar Year, 1968-73
[Billion dollars]
Private
Public
Individual and noncorporate
Corporate
Short term 3
End of year
Total
Total
Federal
financial
Federal »
agencies 2
State
and
local
Farm*
Nonfarm
mortgage
Total
Total
Long
term 3
Total
Notes
and accounts
payable
Other
Production
Mortgage
Other nonfarm
Multifamily
l-to4- residen- Comfamily tial and mercial
commercial
Financial'
Consumer
Net Public and Private Debt
1968
1969.
1970
1971.
1972
1973-
1. 582. 5
1, 736. 0
1, 868. 9
2,045.8
2, 270. 2
2, 525. 8
437.1
453.2
484.9
528.2
557.6
593.4
291.9
289.3
301.1
325.9
341.2
349.1
21.4
30.6
38.8
39.9
41.4
59.8
123.9
133.3
145.0
162.4
175.0
184.5
1, 145. 4
1, 282. 9
1, 384. 0
1, 517. 6
1, 712. 7
1, 932. 4
631.5
734.2
797.7
869.3
978.3
1,111.1
283.6
323.5
360.2
400.0
449.2
491.9
190.1
221.9
232.1
241.7
265.9
300.3
157.8
188.8
205.4
227.7
263.2
318.9
513.9
548.7
586.3
648.3
734.4
821.3
24.3
26.0
27.5
30.3
32.4
37.7
27.5
29.5
31.2
32.9
35.4
39.6
246.5
261.5
278.9
305.2
339.8
374.6
38.4
42.4
53.2
68.2
86.2
105.5
33.4
35.8
35.0
37.2
40.5
43.0
33.0
32.3
33.3
36.2
42.4
40.4
110.8
121.1
127.2
138.4
157.6
180.5
24.3
26.0
27.5
30.3
32.4
37.7
27.5
29.5
31.2
32.9
35.4
39.6
246.5
261.5
278.9
305.2
339.8
374.6
38.4
42.4
53.2
68.2
86.2
105.5
33.4
35.8
35.0
37.2
40.5
43.0
33.0
32.3
33.3
36.2
42.4
40.4
110.8
121.1
127.2
138.4
157.6
180.5
Gross Public and Private Debt
1968.
1969
1970
1971
1972.
1973
1, 794. 4
1, 981. 3
2, 135. 0
2,334.6
2, 591. 5
2,885.6
522.9
550.5
589.7
641.4
681.1
728.7
373.1
382.0
401.6
435.2
461.1
481.5
21.4
30.6
38.8
39.9
41.4
59.8
128.4
137.9
149.3
166.3
178.6
187.4
1, 271. 5
1, 430. 8
1, 545. 3
1, 693. 3
1, 910. 5
2, 156. 9
757.6
882.1
959.0
1,045.0
1, 176. 1
1,335.6
343.3
392.1
436.7
485.0
544.9
596.8
1. Net Federal Government and agency debt is the outstanding debt held by the public
as defined in the Budget of the United States Government, Fiscal Year 1975. Gross Federal
Government debt consists of the public debt as defined in the Second Liberty Bond Act of
1917, as amended, plus the obligations to the public of Federal agencies in which the Federal
Government has a proprietary interest each year.
2. This comprises the debt of federally sponsored agencies, in which there is no longer any
Federal proprietary interest. These comprise the obligations of the Federal Land Banks, the
debt of the Federal Home Loan Banks, and the debts of the Federal National Mortgage Association, Federal Intermediate Credit Banks, and Banks for Cooperatives.
228.1
266.3
278.5
290.0
319.1
360.4
186.2
223.8
243.8
270.0
312.2
378.5
513.9
548.7
586.3
648.3
734.4
821.3
3. Long-term debt is debt having a maturity of 1 year or more, short-term debt is that which
will mature within a year.
4. Farm mortgages and farm production loans. Farmers' financial and consumer debt is
included in the nonfarm categories.
5. Financial debt is owed to banks for purchasing or carrying securities, customers' debt to
brokers, and debt owed to life insurance companies by policyholders.
SOURCES: U.S. Department of Commerce, Bureau of Economic Analysis; U.S. Treasury
Department; U.S. Department of Agriculture; Board of Governors of the Federal Reserve
System; Federal Home Loan Bank Board; Federal Land Banks; U.S. Department of Housing
and Urban Development and Federal National Mortgage Association.
9
SURVEY OF CURRENT BUSINESS
June 1974
CHART 3
In May: Nonfarm payroll employment increased 180,000
The jobless rate edged up to 5.2 percent from 5.0 percent in April
Wholesale prices rose 1.5 percent
THE LABOR MARKET
TOTAL PRODUCTION
PRICES
Percent
Million Persons
96
CIVILIAN LABOR FORCE AND EMPLOYMENT
IMRIOT PRICE DEFLATOR FOR GNP
(Change From Previous Quarter) * *
8 -
1,300 ~
1,200 -
84 -
1,100
80
Quarterly (I)
Monthly (May)
Quarterly (I)
Billion $
Percent
Percent
16
80
CURRENT DOLLAR GNP
CHAIN PRICE INDEX FOR GNP
(Change From Previous Quarter) *
UNEMPLOYMENT RATE"
(Change From Previous Quarter) **
12
60
jotal
Final Sales
\
40
20
Quarterly (I)
Billion $
85
1,050
CONSTANT DOLLAR (1958) GNP**
950
80
-
850
750
650 I
I
I
I
Quarterly (I)
BEA
Hours
15
10
44.0
CONSTANT DOLLAR (1958) GNP
(Change From Previous Quarter)**
Total ^ =
^— Final Sales
PRODUCTION OR NONSUPERVISORY
WORKERS (PRIVATE)*
42.0
40.0
\ s*
Average
Weekly Hours
(left scale) /'
38.0
36.0
1972
1973
1974
BEA
Quarterly (I)
* Seasonally Adjusted ** Seasonally Adjusted at Annual Rates
U.S. Department of Commerce, Bureau of Economic Analysis
550-325 O - 74 - 2
4.25
160
4.00
140
3.75
120
3.50
100
Average Hourly Earnings
(right scale)
1972
1973
Monthly May
1974
BLS
Farm Products
Processed Foods
and Feeds-
1972
A*
/ *
/
1973
Monthly (May)
1974
BLS
10
J3UKV-EY OF C UKKENT BUSINESS
June 1974
• In May: Personal income increased $10% billion; wages and salaries accounted for most of the rise
•
Housing starts declined 11 percent
• Plant and equipment spending expected to rise 12 percent in 1974
INCOME OF PERSONS
CONSUMPTION AND SAVING
Billion $
Billion $
1,000
1,200
PERSONAL INCOME**
1,100
^f
/
S^
—
s\^^
—
~s^s\
_
111 111 t t I 11 111 11 1 11111
800
900
_
800
—
Personal Consumption
Expenditures
(left scale) v
/^
Billion $
600
Total
(left scale)
-
300
200
600
1 t 1 il 1 t l l i i
Monthly (May)
'
100
. ;.. . 1 1 1 . .i
20
14
-
A
10
i l l
1
1
1
8
:... — ,..-'•
6
i 1 1 1 i i i 1 1 11
Dollars
Billion $
3,050
3.2
_
1 L
1973
Quarterly (I)
1
1
80
i l i l i J i l ILL
I
~ A/V
vv
.8
1 11 1 1 i 1 11 11
1972
BEA
I
° Expected
1
I
Census
1
1
1
1
Quarterly (IV)
1
1
BEA
Billion $
CAPITAL GOODS MANUFACTURERS*
(NONDEFENSE)
Domestic
(left scale)
12
V^i
10
New Orders
•
..X*
^/
jL_^/
i i i ti 1 i l i i l
2
8
0
6
f\/
/N-A
..
A^J^^^
f'ls^
\
.^^^^^
Shipments
"<..
l l l l 1 l Il MJ
i 11 11 1 11 1 1 1 ii11 t 11 i i ii 1 1 1 1 1 1 1 1 1 11
Trade Sources & BEA
Monthly (Mar.)
Census
PRIVATE HOUSING**
-1
2.5
s, X\y\
x
f\AAn
0
1
1974
* Seasonally Adjusted ** Seasonally Adjusted at Annual Rates
U.S. Department of Commerce, Bureau of Economic Analysis
—'
-
1.6
^
l
/
90
Million Units
^^
I
f^^
j
3.0
2.4
J
I
/
.S
NET CHANGE IN INSTALLMENT
CREDIT OUTSTANDING*
^"^
-
X""
100
\
Monthly (May)
BEA
REAL PER CAPITA DISPOSABLE
PERSONAL INCOME**
- (In 1958 Dollars)
BEA
110
Imports 1
(right scale) 1
-*v
Quarterly (1)
1972
,
A. /\7 ^\^
/\l T
T
^\^^
i
14
^^
900
i
Quarterly (1)
Million Units
12
1,000
I
t
25
NEW CAR SALES**
DISPOSABLE PERSONAL INCOME**
2650
2
»•***"*""
Monthly (May)
Million Units
/
PLANT AND EQUIPMENT EXPENDITURES * *
i i i 1 i 1 i i i ii
BEA
Billion $
_
i
>^v^-r^"
1,100
2,750
i
BEA
TotaU
s^™^
-^>
S*r*^
..»-•. *•»•*"**'
Manufac{uring
/
/
1
i
Excluding Automotive Group
, , , , , i , » , , , i WI*FM*, . .
2,850
i
-
30 ~..**~~ •••-•""*'
J—
1
Nonrestdential Structures**
-
*0
>
^~~^
*^
4
_
Billion $
\^\
2,950
50
120
^C^
^^^^^
t
_
60
^-^
700
i
75
Billion $
50
l
— 10
K. Producers' Durable Equipment **
\
-A--—"""""'""""T
RETAIL STORE SALES*
-
700
100
6
Personal Saving Rate
(right scale)
i i i
i
WAGES AND SALARIES**
800
_ 14
»**•«
Quarterly (I)
900
500
125
Residential Structures**
^^
BEA
Billion $
" "
18
^^f
\^^^^
700
1 1 1 LiJ J ± i LL_
Monthly (May)
800
Billion $
PERSONAL CONSUMPTION EXPENDITURES**
AND PERSONAL SAVING RATE*
__
1,000
900
FIXED INVESTMENT
Percent
V VI
W
V
2.0
-
1 t 1 1t 1 1 1 1 11
1 1 1 1 1 1 1 11 1 1
1973
1974
-\/ /
vV
'v\\ i
Permits \ V/ J\
*• L *//***
1.5
1.0
starts
T \
1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 ri 1 1 ii 1 1
1972
1973
1974
Monthly (May)
Census
SURVEY OF CURRENT BUSINESS
Tune 1974
11
• In April: Manufacturing and trade firms added $2% billion to their stocks
•
Exports rose more than imports and the trade balance moved back to surplus
• In first quarter: Balance of payments on current account and long-term capital was in surplus by $2 billion
INVENTORIES
FOREIGN TRANSACTIONS
Billion $
30
CHANGE IN BUSINESS INVENTORIES**
(GNP Basis)
20
GOVERNMENT
Billion $
30
Billion $
250
GOVERNMENT PURCHASES OF
GOODS AND SERVICES**
NET EXPORTS**
-
-
-
20
State and Local
10
0
__
-
.•II
Goods and Services
Billion $
i AA
Merchandise
i i i
1
I
1
Quarterly (1)
Total
\
200
300
/
/
Imports
\
6
"
1 1 1 1 1 1 1 1 1 1 1
1 1 1 1 1 1 1 1 t 1 1
Monthly (Apr.)
4
Expenditures
_**C'/*
A
/\r^
•••„
••"""
—-~—^^"^
-
200
Monthly (Apr.)
i
BEA
^p
Receipts
i
i
i
i
i
Quarterly (1)
l
l
BEA
Billion $
50
-
8
Manufacturing
^S
\ ^^^
'•*""
Trade-......,--
i
Census
BALANCE OF PAYMENTS*
MANUFACTURING AND TRADE INVENTORIES*
(Book Value, End of Month) ^
I
-
150
9
Billion $
16
140
I
\
^ttegZZ***
/"V/^^^
.-^""'•••/^X \
250
Exports
Census & BEA
Billion $
I
-
^ ^Ty\
^^^^
-
I I I
Quarterly (1)
/
^
l
FEDERAL BUDGET**
(NIA Basis)
.^
\^r
i
Billion $
350
8
^s
160
t
50
MERCHANDISE TRADE*
s
s
^**f
------^^^^1^^^"^
Federal Total
- ^ \
_ ..-.DefenseV
BEA
Billion $
10
MANUFACTURING AND TRADE
/
INVENTORIES*
/
- (Book Value, End of Month) /
—i
..—-—.••]*
i i I
BEA
240
100
i
-10
120
150
\sS/ S*^ \
0
Quarterly (1)
180
*s.
f
/
__
\
1
-10
220
10
_
200
Current Account
0
.
\
25
-
FEDERAL BUDGET POSITION**
(NIA Basts)
_
^
0
^*<^
-.
IB Hi
^m
,|.|-
•••"*""*
80
60
1 11 i11 i111i
1 II i i1 iIt i I
Monthly (Apr.)
III | I| I U1 L
-16
1.4
1.0
l
l
i
-25
l
i
l
i
i
Quarterly (1)
-50
BEA
Billion $
16
_
_
~
**
»••
/
Trade
1 1 1 1 1 1 1 11 ii i 11 1 1 1 1 11 11 1 1 1 11 1 i 1 1 1 1
1974
Monthly (Apr.)
Census & BEA
* Seasonally Adjusted ** Seasonally Adjusted at Annual Rates
U.S. Department of Commerce, Bureau of Economic Analysis
8
3
_
-%
-1 A
2
i
i
1972
i
\
1
\/
i
;
II
I 1
New Orders
\
A
A!\
/***V \ • / • • \
^-*T~' \ y ' ' .
/
/Svy
Net Liquidity
Balance
_
?.
•«.
0
-8
1973
DEFENSE PRODUCTS MANUFACTURERS *
_.
•^rA
^
—ij
"•••
J
BEA
Billion $
4
Official Reserve
Transactions Balance
Total Manufacturing
and Trade
Manufacturing
1972
Quarterly (1)
BALANCE OF PAYMENTS *
INVENTORY/SALES RATIOS*
1.8
i
Census & BEA
Ratio
2.6
2.2
Current Account and
Long-Term Capital
-8
i
i
1973
Quarterly (1)
i
i
i
0
1974
Shipments
1 1111 11 111 1 1 1111 11 11 1 1 i 11 1 1 1 1 111i
1972
BEA
1973
1974
Monthly (Mar.)
Census
SURVEY OF CURRENT BUSINESS
12
June 1974
1
•
•
•
In May: Industrial production increased 0.4 percent
Bank credit and money supply continued to grow
Short-term interest rates and bond yields moved higher
INDUSTRIAL PRODUCTION
MONEY, CREDIT, AND SECURITIES MARKETS
1967=100
160
Billion $
720
Total
x
>-*"*S^ ^ ^\
Durable
^X
100
-
^^
640
„_
_
1 1 11 i 1 1 i i ir 1 1 1 1 1 1 1 1 11 i
i i i i i t i i i ri
Monthly (May)
Bank Credit
(left scale)
\
150
340
125 _
560
*—
480
Z
400
1967=100
s^
Total
s
^i
Money Supply
(right scale)
300
100
260
75
.***
, 1 1 1 , 1 1 i i i i i i 1 1 i t 1 1 1 1 1 i i i i i i i 1 1 1 i 220
Monthly (May)
4
^r--\//\
/'
•"«
/
Xir
100
\i
H
Steel
\
V
WIVM>
V.
-
2
Billion $
45
—
0
- 40
i-
t
1 t
1 t
1
1 1 1 t
\ /
v-./
-2
1 \
*
- J^
_
12
Commercial Paper
Corporate Aaa (Moody's)
\
8
4
i
60
1
L
i
I
1
L
Quarterly (1)
I
1
0
75 _
25
50
...>
...»•• — r' i
1 111 1 1 1 11 11
t i 11 i11 i111 11 1 1 ii 111 11
8
_= Output
0
In!
JfeU^
5
1941-43=10
Percent
24
STOCK PRICES
t<
120
_
—
V
m*~+
/"x*"-*
36
100
^
16
50
. . i> i 1 1 1 1 11 i 1 1 1 1 1 1 1 1 i i
1972
1973
Monthly (Mar.)
Mil 1 1 1 1 t t t
1974
Census
* Seasonally Adjusted **Seasonally Adjusted at Annual Rates
U.S. Department of Commerce, Bureau of Economic Analysis
i
1
1
BEA
i
60
1 1 1 1 1 11 1 1 1 1
1972
a
—
g= 5 i i=
B 1i 1 5
1
1973
Monthly (May)
BLS
UNIT LABOR COSTS PRIVATE ECONOMY
(Change From Previous Quarter) * *
_
•Hi I
1 ..
V^V
on
Ov
28
_
8
Standards and Poor's 500
Shipments
I
Quarterly (I)
140
New Orders
\
-ft
52
44
a
Monthly (May)
FRB
,,^
/ — S^
\
Quarterly (1)
Compensation
/>^'x">% /
JL 1,«»»k«'*^-
...—,^-> ^<
\ 3-Month 1
Treasury Bids
^ -
DURABLE GOODS MANUFACTURERS *
X
Prof its After Tax
\
Billion $
_
^~~^
_
30
X^
70
S
100
\r\
-x,""v
_S
COMPENSATION AND REAL OUTPUT PER MAN-HOUR
PRIVATE ECONOMY
16 - (Change From Previous Quarter) **
on
HOI,
ju-i/oy
Manufacturing
—•
BEA
Percent
24
INTEREST RATES AND BOND YIELD
-
Cash Flow After
FRB
Percent
16
90
125 -
,...JT*~.
Monthly (May)
RATIO OUTPUT TO CAPACITY*
80
/
i i i rVTK i i i i t 1 1 \ i i 1 1 1 1 i
t l 1 t 1 11 l l t l
FRB
Percent
100
!
^^^^" "
Net Free Reserves
(left scale)
%
Monthly (May)
35
^^
V
—"-.
1 t t 1 i t t 1 i 11
t
1
\A
^..^
\j
i iii i1 iti ii
1
Billion $
150
nividpnffc
UtVlUCIIUo
Total Reserves*
(right scale)
s^/
\ ^Y^
-~*S^*^
1
CORPORATE CASH FLOW AND PROFITS**
-
^
/f"
1
Quarterly (1)
V
\
„
Z/
80
1
50
_
Nonfinancial
Corporations
i
i i
FRB
Autos
\/j
\
•*
...
~
*».
.*•*"***
.X**"
BANK RESERVES
INDUSTRIAL PRODUCTION*
-
^.^x—^»
^^^
_
.—"^
......£
Billion $
6
120
_
s—1
FRB
160
140
380
CORPORATE PROFITS AND IVA, BEFORE TAXES**
S
*»<^
Manufactures
^
80
Billion $
BANK CREDIT AND MONEY SUPPLY*
Nondurable
Manufactures N^
..„.
•t*!"'""-'"i '"""
^, ^^ ^ '•'?****^'
140
x^
PROFITS AND COSTS
Billion $
INDUSTRIAL PRODUCTION*
120
CHART 6
| | 1i l 1 i 1 1 ! |
1974
-8
1972
1973
Quarterly (l)
1974
BLS
SURVEY OF CURRENT BUSINESS
June 1974
13
NATIONAL INCOME AND PRODUCT TABLES
1972
1972
1973
1973
I
IV
II
1972
1974
III
I
IV
1972
1973
1973
I
IV
II
1974
III
IV
I
Seasonally adjusted at annual rates
Seasonally adjusted at annual rates
Billions of 1958 dollars
Billions of current dollars
Table 1.—Gross National Product in Current and Constant Dollars (1.1, 1.2)
790 7
837 4
812 3
829 3
834.3
841 3
844.6
831.0
726.5
804.0
752.6
779.4
795.6
816.0
825.2
844.6
526.8
553.9
540.5
552.7
553.3
558.1
551.3
547.2
117.4
299 9
309 2
130 8
335 9
33/3
122.9
310 7
319 0
132.2
322 2
325 0
132.8
330 3
332 6
132.8
341 6
341 6
125 6
349 6
350 0
125.0
362.3
357.3
104.0
220 9
201.8
114 3
228 8
210 7
109.2
225.8
205.4
117.0
228.8
207.0
116.2
228.0
209.1
115. 4
230 2
212.5
108.7
228 3
214.3
106.5
226.3
214.4
178 3
202 1
189 4
194 5
198 2
202 0
213.9
198.9
122.9
132 2
129.1
130.2
130.2
130.8
137.6
124.5
172.3
194 2
181 2
189 9
193 7
197 3
195 9
193.4
118.3
126 6
122.8
126.9
126.9
127.7
125.0
121.0
118 2
41.7
76.5
136 2
48 4
87 8
124 3
43.0
81.2
130 9
45.3
85.5
134 1
47 2
86 9
138 0
49 5
88.6
141 8
51 7
90.1
144 1
53.9
90.2
83.7
23.0
60.8
92 6
24 9
67 7
87.5
23.1
64.3
91.2
23.8
67.4
91.5
24.4
67.2
93.2
25.2
68.0
94.5
26.2
68.3
93.8
26.8
67.0
54.0
53 5
.6
58 0
57 4
6
56.9
56 4
.5
59.0
58 4
.6
59 6
59 1
5
59.2
58 6
.6
54 0
53 4
7
49.3
48 6
.7
34.6
34 2
.4
34 0
33 6
4
35.3
35.0
.3
35.6
35.3
.4
35.3
35.0
.3
34.5
34.2
.4
30.5
30.1
.4
27.2
26.8
.4
C hange in business inventories
Nonfarm
Farm
6.0
5.6
4
80
7.3
6
8.2
7.9
3
4.6
4.4
2
45
4.4
1
4.7
3.2
15
18 0
17.3
7
5.5
5.0
6
4.6
4.5
1
56
52
3
6.3
6.2
.1
3.3
3.2
.1
3.4
3.3
.1
3.0
2.3
.7
12.5
12.1
.4
3.5
3.2
.2
Net exports of goods and services
—4 6
58
f-3 5
o
2g
76
12 8
10 9
—2 0
67
—.8
2.0
5.6
7.4
11.6
12.5
73.5
78 1
102 0
96 2
79.7
83 2
89.7
89 7
97.2
94 4
104.5
97 0
116.4
103 6
130.4
119 4
56.4
58.4
67 6
60 9
59.6
60.3
65.3
63.3
66.6
61.1
«7.4
60.0
71.0
59.4
73.9
61.4
Gross national product
1 155 2 1 289 11 199 2 1 242 5 1 272 0 1 304 5 1 337 5 1, 352. 2
Personal consumption expenditures
Durable goods
Nondurable goods
Services
- -
Gross private domestic investment _
Fixed investment
-
- -
Nonresidential
Structures .
Producers' durable equipment
__ .
Residential structures
Nonfarm
Farm ._
Exports
Imports
255 0
277 1
260 7
268 6
275 3
279 0
285 6
297 8
143.0
144 7
143.5
144.4
145.2
145.0
144.1
146.8
Federal
National defense
Other
104.4
74.4
30 1
106.6
73 9
32 7
102.7
72.4
30 3
105.5
74 3
31 2
107.3
74 2
33 1
106.8
74 2
32 7
106.8
73 0
33 8
112.1
76.3
35 8
60.8
57.1
58.6
58.2
58.2
57.2
54.9
56.7
State and local
150 5
170 5
158 0
163 0
168 0
172 2
178 8
185 7
82 2
87 6
85 0
86.2
87.0
87.8
89 2
90.1
Government purchases of goods and services
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
1 155 2 1 289 1 1 199 2 1 242 5 1 272 0 1 304 5 1 337 5 1 352 2
790 7
837 4
812 3
829.3
834.3
841.3
844.6
831.0
1 149 1 1 281 11 191 0 1 237 8 1 267 5 1 299 8 1 319 4 1 346 7
5.5
6 0 ' 80
8 2 ' 46
45
4 7 ' 18 0
786 1
4.6
831 8
56
806 0
6.3
826.0
3.3
831.0
3.4
838.3
3.0
832 1
12.5
827.5
3.5
423 9
455 9
438.4
452.1
453.9
456.8
460.9
446.8
453.7
30
448.4
12 5
443.3
3.5
541 4
614 7
563 6
589 6
604 2
622 3
642 6
640 5
Final sales
Change in business inventories
535.4
6 0
606 7
80
555 4
82
585.0
4 6
599 6
45
617 6
47
624 6
18 0
635 0
55
419.3
4 6
450 3
56
432.1
63
448.7
3.3
450.5
3.4
Durable goods
Final sales
Change in business inventories.
219 1
214 1
4.9
250 1
242 1
80
233 2
222 8
10 4
242 5
238 1
4.4
249 7
242 4
73
254 3
246 2
80
254 2
241 7
12 4
246 0
240 3
5.7
184 1
180 2
3.9
206 2
200 4
58
196 3
188 0
8.2
203.4
200.3
3.2
207.1
201.8
5.4
208 1
202.4
5.7
206 0
197.2
8.9
198.3
194.7
3.5
Nondurable goods
Final sales. .
Change in business inventories
322.3
321 2
1i
364 5
364*6
_ i
330 3
332 5
—2 2
347 2
346 9
3
354 5
357 3
—2 8
368 0
371 4
—3 4
388 4
382 8
56
394 5
394 7
_ 2
239.8
239 1
.7
249 7
250 0
_ 2
242.1
244 1
—1.9
248.7
248.5
.2
246.7
248.7
—2.0
248.7
251.3
-2.6
254.9
251 3
3.6
248.5
248.6
-.1
487 3
126.5
534 5
139.9
503 9
131.7
514 8
138.1
527 7
140 1
540 8
141 4
554 7
140 2
571 8
139.9
292 6
74.2
306 0
75.5
298.8
75.1
300.6
76.7
304.1
76.3
308.6
76.0
310.5
73.1
313.3
70.9
Services
Structures
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
Rest of the world
G eneral government
Federal
State and local
.
1,155 2 1 289 1 1 199 2 1 242 5 1 272 0 1 304 5 1 337 5 1 352 2
790 7
837 4
812 3
829.3
834.3
841.3
844.6
831.0
1 019 7 1 141 6 1 060 0 1 098 9 1 126 2 1 156 3 1 184 9 1 1% 5
729 5
774 9
750 3
767 1
772.0
778.8
781.7
767.5
975 4 1 090 6 1 013 6 1 050 5 1 076 8 1 105 2 1 130 11 134 2
941.0 1 043 0 976 9 1 008 9 1 033 5 1 056 2 1 073 4 1 076.8
34 4
36 7
57 4
47 7
41 6
43 3
49 0
56 7
706 6
682.0
24 6
750 7
727 5
23 2
726 8
702.5
24 2
742.9
718. 1
24.8
748.3
725.9
22.4
754.7
733.6
21.2
756.8
732.6
24.2
740.3
717.2
23.1
36.8
75
41 1
93
37 8
8 7
39 3
91
40 5
89
41 8
93
42 9
11 9
44 5
17 8
17.4
55
18 3
59
17.4
62
18.0
6.3
18.2
5.5
18.5
5.5
18.5
6.5
18.8
8.4
135.4
50.3
85.1
147.5
52 8
94 8
139 2
50 5
88 7
143.5
52 5
91 1
145 8
52 2
93 6
148 2
52 3
96 0
152 5
54 1
98 4
155.8
54 7
101.0
61.1
21 g
39.3
62.5
21 3
41 1
62.0
21.7
40.3
62.2
21.6
40.6
62.4
21.4
41.0
62.5
21.2
41.3
62.9
21.2
41.7
63.4
21.2
42.3
HISTORICAL STATISTICS
THE 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 District Offices or the Superintendent of Documents; see addresses inside
front cover). Each July SURVEY contains preliminary data for the latest 2 years and fully revised data for the preceding 2. The July 1973
issue has data for 1969-72. Prior July issues have fully revised data as follows: 1968-69, July 1972; 1967-68, July 1971; 1966-67, July 1970;
1965-66, July 1969; 1964-65, July 1968. BE A will provide on request a reprint of the fully revised data for the years 1964-69.
SUKVEY OF CURRENT BUSINESS
14
1972
1972
1973
1974
1973
IV
I
III
II
June 1974
IV
1972
I
1972
1973
Table 4.—Relation of Gross National Product, National Income,
and Personal Income (1.9)
consumption
1,155.2 1,289.1 1,199.2 1,242.5 1,272.0 1,304.5 1,337.5 1,352.2
102.4
110.0
105.1
106.9
109.0
Plus: Subsidies less current
surplus 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 persons ..
Interest paid by government (net) and by
consumers ..
Dividends- _
Business transfer payments
Equals: Personal income
1.7
110.5
113.5
115.2
117.8
112.8
115.6
117.2
118.5
119.9
121.1
4.9
2.9
4.7
.2
4.8
1.1
4.9
3.2
5.0
3.7
5.1
3.7
5.2
-1.0
.4
941.8 1,053.9
2.2
.9
III
IV
I
.4
.6
-.2
Table 6.—National Income by Type of Income (1.10)
National income
941.8 1053.9 978.6 1015.0 1038.2 1067.4 1095. 11108.8
Compensation of employees
707.1 785.2 731.2 757.4 774.9 794.0 814.7 826.8
Wages and salaries
Equals: Net national product-. 1,052.8 1,179.1 1,094.1 1,135.5 1,163.0 1,194.0 1,223.9 1,237.1
Less: Indirect business tax
and nontax liability... 109.5
Business transfer payments
4.6
Statistical discrepancy. . -1.5
II
Billions of dollars
Billions of dollars
Less: Capital
allowances.
I
1974
Seasonally adjusted at annual rates
Seasonally adjusted at annual rates
Gross national product
IV
1973
-2.9
978.6 1,015.0 1,038.2 1,067.4 1,095.1 1,108.8
627.3 691.4 648.7 666.7 682.3 699.3 717.2 726.2
Private
Military
Government civilian
493.3 546.0 510.9 525.1 538.7 553.2 566.9 573.3
20.3 20.8 20.1 20.9 20.5 20.4 21.3 21.2
113.8 124.6 117.7 120.7 123.1 125.7 129.1 131.7
Supplements to wages and salaries. . 79.7
Employer contributions for social
insurance
39.0
Other labor income
Proprietors' income
Business and professional
Farm
Rental income of persons
91.1
109.0
98.8
104.3
107.9
112.0
111.9
112.9
73.7
92.1
75.8
89.3
90.9
93.0
95.0
99.9
-.5
-. 1
.0
.0
-.3
.0
.0
.0
113.7
116.9
122.3
98.3
112.6
107.3
108.8
110.8
32.7
26.0
37.1
27.8
33.7
26.4
34.7
26.9
36.1
27.3
38.0
28.1
39.7
29.0
41.4
29.5
4.6
4.9
4.7
4.8
4.9
5.0
5.1
5.2
939.2 1,035.4
976.1
Corporate profits and inventory valuation adjustment
Profits before tax
Profits tax liability
Profits after tax _
Dividends
Undistributed profits
Inventory valuation adjustment
Net interest
93.9
82.5
90.8
92.6
94.7
97.5 100.6
49.0
40.2
47.4
48.3
49.4
50.8
52.7
40.7
44.9
42.3
43.3
44.2
45.3
46.7
47.9
74.2
84.2
77.1
80.6
81.5
85.0
89.8
88.4
54.0
20.2
57.5
26.8
55.3
21.8
56.3
24.3
57.1
24.4
57.9
27.1
58.5
31.3
59.3
29.1
24.1
25.1
24.9
24.7
24.6
25.3
25.7
25.8
91.1 109.0 98.8 104.3 107.9 112.0 111.9 112.9
98.0 126.3 106.1 119.6 128.9 129.0 127.4 144.0
42.7 55.8 45.9 52.7 57.4 57.6 55.7 60.6
55.4 70.4 60.3 66.9 71.6 71.5 71.6 83.4
26.0 27.8 26.4 26.9 27.3 28.1 29.0 29.5
29.3 42.6 33.9 40.0 44.2 43.4 42.6 53.9
-6.9 -17.3 -7.3 -15.4 -21.1 -17.0 -15.5 -31.2
45.2 50.4 46.6 47.9 49.4 51.1 53.0 55.0
996.6 1,019.0 1, 047. 1 1,078.9 1,094.4
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 l
Personal consumption expenditures
Producers' durable equipment
Change in dealers' auto inventories ....
Net exports
Exports. .
Imports
43.6
49.7
45.6
51.5
51.2
49.6
46.5
32.6
39.4
42.9
41.2
45.1
44.6
44.5
37.4
34.7
7.0
7.6
7.3
8.0
7.9
7.8
6.6
6.1
-.5
1.5
-.4
.9
1.2
-.5
4.3
-5.0
-2.7 -2.9
3.8 3.3
6.5
6.2
-2.8
3.6
6.4
-2.9
3.6
6.5
-2.7
3.8
6.5
-2.4
4.2
6.6
-3.7
4.1
7.8
44.0
10.6
44.8
9.8
43.5
9.5
40.3
9.9
27.7
10.2
-2.7
3.0
5.7
941.8 1053.9 978.6 1015.0 1038.2 1067.4 1095. 1 1108. 8
All industries, total
30.4
Agriculture, forestry, and fisheries
Mining and construction
59.9
252.6
Manufacturing
.
Nondurable goods
99.9
Durable goods
-- ._ __ 152.7
37.8 32.2
67.2 61.8
291.2 266.5
111.0 104.6
180.1 161.9
34.7 35.1 38.2 43.2 41.7
64.0 65.5 68.8 70.4 71.4
280.8 290.4 295.0 298.6 298.2
107.3 109.9 112.6 114.4 120.6
173.5 180.5 182.4 184.2 177.6
36.0
20.0
18.2
139.7
39.3 37.3
21.7 20.8
19.8 18.6
151.6 143.2
38.2 38.5 39.7 40.7 41.5
20.9 21.0 22.5 22.2 22.5
19.1 19.4 20.6 20.3 18.9
146.9 149.7 153.4 156.5 156.1
107.9
Finance, insurance, and real estate
120.1
Services
Government and government enter149.5
prises
7.5
Rest of the world
119.0 111.6
133.6 123.9
114.2 117.3 120.8 123.7 125.5
128.4 131.4 135.4 139.1 143.1
162.9 153.9
9.8 8.7
158.6 160.9 163.7 168.5 172.1
8.9
9.3 11.9 17.8
9.1
T ransportation
Communication
.
Electric, gas, and sanitary services
Wholesale and retail trade - - -
Addenda:
New cars, domestic 2
New cars, foreign
37.9
8.6
43.1
9.9
39.5
9.4
Table 8. —Corporate Profits (Before Tax) and Inventory Valuation
Adjustment by Broad Industry Groups (6.12)
Billions of 1958 dollars
All industries, total Gross auto product
1
Personal consumption expenditures..Producers' durable equipmentChange in dealers' auto inventories
Net exports, _
Exports
Imports
39.0
44.2
41.4
46.4
45.5
43.6
41.3
29.0
35.2
38.1
37.3
40.4
39.6
39.1
33.2
30.7
6.3
6.8
6.7
7.2
7.0
7.0
5.9
5.5
-.4
1.3
-.3
.8
1.0
-.4
3.9
-4.3
-2.4 -2.6
3.0
3.4
5.5
5.7
-2.4
3.2
5.6
-2.5
3.1
5.6
-2.4
3.3
5.7
-2.1
3.8
5.9
-3.2
3.6
6.8
36.7
8.8
40.6
9.9
40.7
9.0
39.3
8.7
36.7
9.1
25.3
9.4
-2.4
2.6
5.0
Addenda:
New cars, domestic 2
New cars, foreign
34.6
7.9
39.3
9.2
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
Financial institutions.
- -- -
Federal Reserve banks
Other financial institutions Nonfinancial corporations
Manufacturing Nondurable goods
Durable goods
Transportation,
communication,
and public utilities
All other industries
104.3 107.9 112.0 111.9 112.9
91.1
109.0 98.8
17.5
21.7 18.6
19.8
21.4
22.3
23.2
23.5
3.4
14.1
4.5 3.4
17.2 15.2
3.9
16.0
4.4
17.0
4.8
17.5
5.0
18.1
5.3
18.2
73.6
87.3 80.2
84.5
86.5
89.7
88.7
89.3
40". 1
20.0
20.2
50.8 44.7
24.2 22.4
26.6 22.3
49.7
22.8
26.9
52.4
23.9
28.5
51.9
25.3
26.6
49.2
24.9
24.4
48.7
29.7
19.0
9.3
24.2
9.3 9.9
27.3 25.7
9.2
25.6
8.5
25.6
10.3
27.5
9.1
30.4
7.1
33.5
June 1974
SUKVEY OF CUKEENT BUSINESS
1972
1972
1973
1973
I
IV
II
15
1974
III
IV
1972
I
1972
1973
Seasonally adjusted at annual rates
Income originating in corporate business
Compensation of employees
Wages and salaries
Supplements
Net interest
71.4
68.0
69.3
70.5
71.7
74.2
75. 1
Gross product originating in
nonfinancial corporations
Capital consumption allowances
Indirect business taxes plus transfer
payments less subsidies
Income originating in nonfinancial
corporations
Compensation of employees
Wages and salaries
Supplements
Net interest
60.8 65.7
62.5
64.3
65.2
66.2
66.9
67 5
Other labor income
40.7
44.9 42.3
43.3
44.2
45.3
46.7
47.9
74.2
54.0
20.2
84.2 77.1 80.6
57.5 55.3 56.3
26.8 21.8 24.3
81.5
57.1
24.4
85.0
57.9
27.1
89.8
58.5
31.3
88.4
59.3
29.1
. ... 24.1
26.0
78.0
25.1 24.9 24.7
27.8 26.4 26.9
87.5 80.3 82.7
24.6
27.3
85.6
25.3
28.1
89.1
25.7
29.0
92.7
25.8
29.5
96.4
35.4
41.0
36.8
38.7
40.5
41.8
101.7 97 4
117.2 128 6
55.7 60.6
61.5 68 0
25.8 27. 4
35.7 40 5
-15.5 —31.2
135.6 143.0
109.8 115.6
43.1
43 8
608.9 679.8 633.2 656.7 672.5 689.3 700.6 702 2
63.2 68.4 65.2 66.3 67.5 68.6 71.0 71. 8
58.0
62.6
59.6
61.3
62.2
63.1
63.8
64 3
487.7 548.8 508.4 529.1 542.8 557.5 565.8 566.0
403.0 451.0 417.8 434.1 445.4 456.7 467.9 472.3
351.5 389.7 364.6 375.0 384.9 394. * 404.2 407 1
51.5 61.3 53.2 59.2 60.5 61.8 63.7 65.2
18.8
17.9
18.2
18.6
19.0
19.4
19. 8
475.5 512.1 489.8 503.4 509.6 517.2 517.8 507 8
lu des gross
d
1.281 1.328 1.293 1.305 1.320 1.333 1.353 1.383
.133
.134
.133
.132
.132
.133
.137
.141
.122
.847
.037
.122
.881
.037
.122
.853
.037
.122
.862
.036
.122
.874
.037
.122
.883
.037
.123
.904
.037
127
930
039
.142
.074
.154
.091
.148
.077
.152
.088
.155
.095
.158
.092
.152
.088
.146
.099
.068
.064
.071
.064
.060
.066
.064
.047
J* J£? .
Pr° ^ct originating in the rest of the world.
2. This is equal to the deflator for gross product of nonfinancial corporations, wi th the
decimal point shifted two places to the left.
3. Personal saving as a percentage of disposable personal income.
4. On February 18, 1974, the U.S. Government granted to India $2,015 million (qu irterly
r&
te) in rupees under provisions of the Agricultural Trade Development and Adjus tment
Act. Tentatively, this transaction is being treated as capital grants paid to foreigners in the
national income and product accounts but as current unilateral transfers in the t alance
of payments accounts. Accordingly, this transaction is excluded from Federal Gover nment
transfers to foreigners and related totals shown in tables 12, 13, and 15, and is inclu ded in
the first quarter of 1974 as -$8.1 billion (annual rate) in capital grants received by the U.S.
shown in tables 12 and 15.
Transfer payments
103.0 117.5 112.0 113.6
Old-age , survivors, disability , and
60.9 56.4 58.3
health insurance benefits
49.6
State unemployment insurance
4.2 4.7 4.1
benefits
5.5
13.6 14.1 13.3
Veterans benefits
12.7
Other . .
35.1 38.8 36.8 37.8
Less: Personal contributions for
social insurance
34.7
Less: Personal tax and nontax pay142.2
ments
Equals : Disposable personal income. .797.0
.
Less: Personal outlays ..
.... 747.2
Personal consumption expenditures.. 726.5
Interest paid by consumers
19.7
Personal transfer payments to foreigners
. . ..
1.0
Equals* Personal saying
49.7
Addenda:
Disposable personal income:
Total, billions of 1958 dollars
577.9
3,816
2,767
Per capita 1958 dollars
8
'
6.2
P
43.1 35.7
41.9
726.2
262.6
203.5
172.6
138.1
152.9
115.7 118.7 122.0 127.5
60.0
61.8
63.4
64.6
4.1
13.4
38.2
4.1
13.8
39.0
4.4
13.9
40.3
5.1
14.7
43.0
42.6
43.6
44.2
47.2
152.9 147.4 145.1
149.3 156.0 161.1 163.0
882.5 828.7 851.5
827.8 774.3 801.5
804.0 752.6 779.4
22.5 20.7 21.2
1.2 1.1
.9
869.7 891.1 917.8 931.4
54.8 54.4
50.0
608.0 595.1 603.9
4,195 3,955 4,057
2,889 2,841 2,878
6.2
6.6
5.9
818.7 840.1 850.8 869.8
795.6 816.0 825.2 844.6
22.0 23.0 23.8 24.4
1.0
1.1
1.8
.9
51.0
51.1
67.1
61.5
604.8 609.5 613.2 603.4
4,137 4,231 4,349 4,406
2,877 2,894 2,906 2,855
5.9
5.7
7.3
6.6
Table 11 . —Personal Consumption Expenditures by Major Type (2.3)
Personal consumption expendi726.5
tures
804.0 752.6 779.4
795.6 816.0 825.2 844.6
117.4
130.8 122.9 132.2
132.8 132.8 125.6 125.0
52.8
Automobiles and parts
4.1
Mobile homes
- Furniture and household equipment. 48.1
16.5
Other
Nondurable goods
Dollars
tory valuation adjustment..
Rental income of persons
DiTidends
Personal interest income
Durable goods
Billions of 1958 dollars
Corporate profits and inventory valuation adjustment
Profits tax liability
939.2 1035.4 976.1 996.6 1019.0 1047. 11078.9 1094.4
Proprietors' income
Business and professional
Farm
67.3 79.0 72.7 76.8 78.8 81.8 78.5
74.3 96.2 80.0 92.1 99.9 98.9 94.0 105 1
35.0 46.4 37.8 44.3 48.2 47.7 45.5 50.1
39.2 49.8 42.2 47.8 51.7 51.2 48.5
21.2 22.3 20.9 21.4 21.9 22.5 23.4 24.9
TTnHictriVmtoH rvrnflte
18.1 27.5 21.2 26.4 29.8 28.6 25.1
Inventory valuation adjustment .. -6.9 -17.3 -7.3 -15.4 -21.1 -17.0 -15.5 -3l! 2
Cashflow,gross of dividends .
102.5 118.2 107.3 114.1 119.2 119.8 119.5
Cash flow, net of dividends
81.3 95.9 86.4 92.7 97.3 97.3 96.1 10L 8
Capital consumption allowances
Indirect business taxes plus transfer
payments less subsidies
Compensation of employees
Net interest.
Personal income
517.6 583.7 539.5 561.9 577.3 593.2 602.6 603. 4
17.4
Current dollar cost per unit of
1968 dollar gross product
originating 2in nonfinancial
corporations . . . .
I
428.9 479.3 444.6 461.6 473.4 485.2 497.0 502. 0
373.8 413.8 387.6 398.3 408.7 419.1 429.0 432.3
55.1 65.5 56.9 63.3 64.6 66.1 68.0 69. 7
3.8 3.8 3.7 3.7 3.7 3.8 3.9 4. 0
Corporate profits and inventory
valuation adjustment. _ .
Profits before tax
Profits tax liability
Profits after tax
Dividends
Gross product originating In
nonfinancial corporations
IV
Wage and salary disbursements
627.8 691.5 648.7 666.7 682.6 699.3 717.2
Commodity-producing industries.. 226.0 251.9 234.8 241.6 248.6 255.3 262.0
Manufacturing
175 9 196.8 183.7 189.1 194.8 199.1 204.1
151.5 165.1 156.0 159.5 163.3 167.0 170.6
Distributive industries
Service industries
116.1 129.0 120.1 123.9 126.9 130.9 134.3
Government
134 2 145.4 137.8 141.6 143.7 146.1 150.3
Corporate profits and inventory
valuation adjustment
84.9 100.7 91.2 96.6 100.2 104.2
Profits before tax.. . _.
. ._
91.8 117.9 98.6 111.9 121.3 121.2
Profits tax liability
42.7 55.8 45.9 52.7 57.4 57.6
Profits after tax
49.1 62.1 52.7 59.2 63.9 63.7
Dividends
23.3 24.6 23.0 23.6 24.1 24.8
Undistributed profits
. ... 25.8 37.5 29.7 35.6 39.8 38.9
Inventory valuation adjustment.. -6.9 -17.3 -7.3 -15.4 -21.1 -17.0
Cash flow, gross of dividends
115.0 133.5 120.7 128.5 134.4 135.4
Cash flow, net of dividends
91.7 108.9 97.7 104.9 110.3 110.6
Gross product originating in
financial institutions
III
Table 10.—Personal Income and its Disposition (2.1)
644.3 720.8 670.1 695.4 713.0 731.1 743.7 746 0
65.9
II
Billions of dollars
Table 9.—Gross Corporate Product' (1.14)
Gross corporate product
I
IV
1974
Seasonally adjusted at annual rates
Billions of dollars
Capital consumption allowances
Indirect business taxes plus transfer
payments less subsidies
1973
Food and beverages
Clothing and shoes
Gasoline and oil
Other
Services
Housing
. . .
Household operation
Transportation
Other
-
57.8 55.7
4.6 4.4
54.5 50.0
18.5 17.3
60.5
5.0
53.7
18.0
59.7
5.0
54.4
18.6
59.2
4.2
55.0
18.6
51.8
4.0
55.0
18.8
48.3
4.1
57.3
19.4
299.9
335.9 310.7 322.2
330.3 341.6 349.6 362.3
145.3
62.3
25.5
66.8
161.4 149.1
69.7 65.1
29.1 26.6
75.8 70.0
154.7
68.3
27.5
71.7
158.1 164.3 168.3 173.6
69.3 70.3 70.8 73.4
28.8 29.4 30.5 32.1
74.2 77.5 79.9 83.2
309.2
337.3 319.0 325.0
332.6 341.6 350.0 357.3
105.5
43.8
21.8
138.0
114.5 107.9
48.0 45.7
23.4 22.2
151.3 143.1
110.6
46.5
22.8
145.1
113.3 115.8 118.4 121.5
47.1 48.7 49.5 49.8
23.2 23.7 24.1 25.2
149.0 153.4 157.9 160.7
Table 12.— Foreign Transactions in the National Income and
Product Accounts (4.1)
Receipts from foreigners
74.2
102.0 80.4
89.7
97.2 104.5 116.4 122.3
Exports of goods and services
73.5
102.0 79.7
89.7
97.2 104.5 116.4 130.4
.7
.0
Capital grants4received by the United
States (net)
Pay ments to foreigners
Imports of goods and services
Transfers to foreigners .
Personal
Government 4
.
.7
.0
.0
.0
.0 -8.1
74.2
102.0 80.4
89.7
97.2 104.5 116.4 122.3
78.1
96.2 83.2
89.7
94.4
3.5
1.1
2.5
3.0
.9
2.1
3.3
1.0
2.3
3.7
1.0
2.7
3.6
1.2
2.4
97.0 103.6 119.4
3.5
1.1
2.5
4.5
1.8
2.7
3.4
.9
2.6
SUEVEY OF CURRENT BUSINESS
16
1973
1972
1972
I
IV
1973
II
June 1974
1974
I
IV
III
1972
1972
IV
1973
Seasonally adjusted at annual rates
1973
I
II
1974
III
rv
I
Seasonally adjusted
Billions of dollars
Index numbers, 1958=100
Table 13.—Federal Government Receipts and Expenditures (3.1, 3.2)
Table 16.—Implicit Price Deflators for Gross National Product (8.1)
... 228.7 265.0 236.9 253.6 262.4
269.5 274 3 285.6
Gross national product
146. 10 153.94 147.63 149.81 152.46 155.06 158.36 162.73
Personal tax and nontax receipts
107.9 114.5 111.3 108.5 111.4
Corporate profits tax accruals. _
37.8 49.4 40.7 46.6 50.8
Indirect business tax and nontax
accruals.
19.9 21.0 20.3 20.7 21.2
Contributions for social insurance. . . 63.0 80.1 64.6 77.8 79.1
116.9 121.0 123.3
51.0 49.4 53.7
Personal consumption expenditures
137.9 145.2 139.2 141.0 143.8 146.2 149.7 154.3
Federal Government expenditures
244.6 264.0 260.3 258.6 262.4
265.6 269.6 282.3
Purchases of goods and services
National defense
Other
104.4 106 6 102.7 105.5 107.3
74.4 73 9 72.4 74.3 74.2
30.1 32 7 30.3 31.2 33.1
106.8 106 8 112.1
74.2 73 0 76.3
32 7 33.8 35.8
Federal Government receipts -
Transfer payments
To persons ..
To foreigners (net) *
82.9
80.1
2.7
95.4
93.1
2.4
91 0
88.5
2 5
Grants-in-aid to State and local governments
37.7 40 9 46.1
Net interest paid
13.5 15.9 13.7
Subsidies less current surplus of government enterprises
6.1
5 1 6.7
Subsidies
5.5
6.1
4 0
Current surplus
— 6 —1 1 -.6
Less: Wage accruals less disburseo
o .0
ments
Surplus or deficit (-), national
income and product accounts
-15.9
20.8
80.8
21.5
82.5
21.5
87.1
91.8
89.7
93.8
91.5
2.3
96 6
94.2
2 5
99 6 107.0
96.9 104.5
2.6
2 7
41.1
14.7
40.5
15.6
40.5
16.2
41 6
17.0
43.3
18.0
5.5 5.1
4.6
3.9
—.9 —1.2
5.3
3.8
4.6
3.7
— 1.5
-9
2.0
1.6
—.4
—.1
.0
.0
.0
.0
4.0
4.7
3.3
2.1
.0
.9 -23.4 -5.0
Table 14.—State and Local Government Receipts and Expenditures
D urable goods _ .
Nondurable goods
Services
.
112.8 114.5 112.5 113.0 114.3 115.1 115.5 117.4
135.7 146.8 137.6 140.8 144.8 148.4 153.1 160.1
153.2 160.1 155.3 157.0 159.0 160.7 163.3 166.6
Gross private domestic investment
Fixed investment
145.7 153.3 147.6 149.7 152.7 154.4 156.7 159.8
Nonresidential
141.3 147.1 142.1 143.5 146.5 148.1 150.0 153.6
Structures
181.7 194.5 186.0 190.7 193.9 195.9 197.2 200.6
Producers' durable equipment- . 126.0 129.6 126.3 126.8 129.3 130.3 132.0 134.7
Residential structures
Nonfarm
Farm
156.3 170.5 161.2 165.6 168.6 171.6 177.1 181.2
156.4 170.5 161.3 165.6 168.6 171.7 177.2 181.3
150.8 164.9 156.0 159.2 162.7 165.7 170.9 174.8
Change in business inventories
Net exports of goods and services _
130.2 150.9 133.7 137.4 145.9 155.0 164.0 176.5
133.6 157.8 137.8 141.8 154.5 161.7 174.5 194.4
Exports
Imports.
Government purchases of goods and
services
178.3 191.6 181.6 186.0 189.6 192.5 198.2 202.8
171.7 186.6 175.5 181.2 184.4 186.8 194.5 197.6
183.2 194.8 185.9 189.2 193.1 196.1 200.4 206.2
Federal
State and local
(3.3, 3.4)
State and local government receipts
Personal tax and nontax receipts
Corporate profits tax accruals
Indirect business tax and nontax
accruals
Contributions for social insurance...
Federal grants-in-aid
. .
177.2 194.5 191.2 190.2
192.8 196.0 198.9 202.3
34.3
4.9
38.4
6.4
36.1
5.2
36.6
6.1
37.9
6.6
39.1 '40.1
6.6
6.3
39.7
6.9
6. 9
89.6
10.7
37.7
96.8
12.0
40.9
92.5
11.3
46.1
94.9
11.6
41.1
96.0
11.8
40.5
97.7
12.1
40.5
99.6
12.7
12. 7
43.3
State and local government expenditures
164.0 184 0 171.6 176.4 181.2
Purchases of goods and services
150.5 170.5 158.0 163.0 168.0
Transfer payments to persons
18.2 19 5 18.8 19.1 19.4
Net interest paid
-.4 — 1 3 -.6 -1.2 -1.6
Subsidies less current surplus of
-4.4 —4.7 -4.6 -4.6 -4.7
government enterprises
1
.0
Subsidies _
.0
.0
.0
Current surplus __
4.7
4.7
4.5 4.8
4.6
Less: Wage accruals less disburse-.1
ments.
.0
.0 -.1
.0
Surplus or deficit (— ), national
income and product accounts
13.1
10.5
19.6
13.9
11.5
98 5
12.4
41.6
185.7 192.9 197.7
174 2 190 0 186.0 181.5 183.0
Personal saving
49 7 54 8 54 4 50.0
Undistributed corporate profits
29.3 42.6 33.9 40.0
Corporate inventory valuation adjustment
—6 9 -17 3 —7 3 —15 4
Corporate capital
consumption
allowances
65.9 71.4 68.0 69.3
Noncorporate capital consumption
allowances.. .. .
36.5 38.6 37.1 37.7
.0
,0
Wage accruals less disbursements
.0
-.3
..
Capital grants received by the United
States (net) *.. .
111.7 112.5 110.1 111.1 112.6 113.7 112.6 112.4
.1
4.8
4 9
.1
4.9
.0
.0
.00
10.4
6.0
4.6
1
rt
51.1
43.4
67 1
42.6
61.5
53.9
39.3
.0
40.1
.0
8.9
11.6
14.3
10.8
7.9
9 -23 4 -5.0
—15.9
13 1 10 5 19.6 13.9
.0
11.5
4.0
10.4
4.7
3.3
.0
.0
6.0
.0 -8.1
206.0 222.2 198.3
198. 9
202.0 213.9 198.9
"4.0
8.3 -.6
•" • 6
-1.5
2.9
.2
1.1
HousenoiuS ana inst iui
3.2
3.7
148.47
146.4
144.0
231.6
151.58 155.88
149.3 153.2
146.5 150.1
234.0 248.2
212 1 224 8
- -.
221.5 236.1 224.6 230.8 233.9 237.1 242.6 245.5
Federal
State and local
230.5 247.2 232.6 243.2 244.3 246.2 255.3 258.4
216.5 230.3 220.2 224.2 228.4 232.4 236.1 239.0
-
Table 19.—Gross National Product: Change from Preceding Period
Percent
Gross national product:
implicit price deflator
Gross private product :
3.7 -1.0
Implicit price deflator
Chain price index
4. See footnote on page 15.
147.32 141.27 143.25 145.88
145.3 139.5 141.4 143.9
143.4 139.1 140.5 142.4
205.7 151.3 167.6 193.0
Percent at annual rate
4.6
170 6 204 3 183.1 191.5 197.7
Statistical discrepancy
-- 139.78
138.0
138.0
139.5
—21 1 — 17 0 — 15 5 -31.2
Gross private domestic investment.. 178.3 202.1 189.4 194.5 198.2
Net foreign investment
-7.6
2.2 -6.3 -3.0 -.5
Gross investment
1 AA Of IM AC. 155.06
IRQ OC 1fi9
79.
162.73
152.46 IKK nc 158.36
146.10 153.94 147.63 149.81
Gross national product
188.0 207.7 199.4
38.8
.0
.0
Table 18.—Implicit Price Deflators for Gross National Product by
Sector (8.4)
Private
38.6
-.1
.7
166.5 174.7 168.6 171.3 173.5 175.3 178.6 182.5
--
— 4. 9
-4.7 -4 8 -4.9
75.1
.0
Services
170.6 185.3 175.4 180.1 183.6 186.2 191.7 197.3
74.2
.7
119.0 121.3 118.8 119.2 120.5 122. 2 123.4 124.1
-- 134.4 146.0 136.4 139.6 143.7 148.0 152.4 158.7
Durable goods
Nondurable goods
Addendum:
Gross auto product
71.7
11.4 -3.8
127.7 134.8 128.6 130.4 133.1 136.2 139.4 143.4
Goods output
Structures
70.5
Government surplus or deficit (-),
national incomeand productaccounts. -2.8
Federal
State and local
51.0
44.2
146. 10 153.94 147.63 149.81 152.46 155. 06 158.36 162.73
146.2 154.0 147.8 149.9 152.5 155.1 158.6 162.7
Gross national product
Final sales
172.2 178.8 185.7
19.5 20 0 17.8
-1.3 -1 1 -.9
Table 15.—Sources and Uses of Gross Saving (5.1)
Gross private saving
Table 17.—Implicit Price Deflators for Gross National Product by
Major Type of Product (8.2)
--
11.7 15.2
8.1 8.7
3.3 6.1
3.9 7.1
9.9
2.4
7.3
7.0
9.6 11.9 12.2 15.5
6.5 6.2 8.4 9.3
2.9 5.4 3.5 5.7
3.1 5.7 3.9 6.5
10.3
2.5
7.6
7.2
9.4
6.1
3.2
3.6
11.6
5.9
5.4
5.8
10.6
3.4
7.0
7.0
10.5 4.5
1.6 -6.3
8.8 11.5
8.4 12.0
11.1 10.3 3.9
3.6 1.5 -7.1
7.3 8.6 11.8
7.1 8.3 12.9
June 1974
SUEVEY OF CUKKENT BUSINESS
(Continued from page 8)
1973, as compared with $1% billion in
the prior year. The increase in the
Federal debt slowed to $8 billion from
$15% billion in 1972. State and local
governments added $9% billion to their
debt in 1973; in 1972 it had increased
$12^ billion.
Although individuals added about the
same amount to their indebtedness in
1973 as in 1972, there were marked
variations among debt categories. The
liabilities associated with nonfarm business—multifamily residential and commercial mortgages, commercial and
"financial" debt—rose $20 billion, as
compared with $28 billion in 1972.
Debts secured by mortgages on one-tofour family residential properties rose
about $35 billion in both years. The
increase in farm debt accelerated from
$5 billion in 1972 to $9}£ billion in 1973.
Consumer debt increased $23 billion,
as compared with $19 billion in the
prior year.
The tables presented here update
the debt statistics that have appeared
in previous issues of the SURVEY. In
addition to the regular updating, the
17
estimates of nonfarm mortgage debt
have been revised, beginning with 1970,
to incorporate newly available data
sources. A technical note describing the
mortgage debt estimates is available on
request from the National Income and
Wealth Division, Bureau of Economic
Analysis, U.S. Department of Commerce, Washington, D.C. 20230.
Data for public and private debt for
1965-67 are in the May 1973 SURVEY,
data back to 1955 are in the May 1970
SURVEY, and data for earlier years are
in the May 1969 SURVEY.
1974 Plant and Equipment Expenditure Programs
B.
BUSINESSMEN expect to spend
$112 billion on new plant and equipment in 1974, according to the BEA
survey conducted in late April and
May.1 This would be a 12.2 percent
increase over actual expenditures last
year (table 1), compared with increases
of 12.8 percent in 1973 and 8.9 percent
in 1972.
Spending increased 3.4 percent from
the fourth quarter of 1973 to the first
quarter of 1974, to a seasonally adjusted
annual rate of $107.3 billion; a 3.1
percent increase is projected for the
second quarter. These quarterly increases are about in line with the 3.0
percent average quarterly increase in
1973. Smaller increases are planned for
the remainder of 1974—2.3 percent
in the third quarter and 2.5 percent in
the fourth (table 2).
Present spending plans for the year
1. The expectations figures have been adjusted for sys"
tematic biases (table 5, footnote 2). Before such adjustment*
1974 expenditures were expected to be $112.08 billion for all
industries. $46.71 billion for manufacturing, and $65.36 billion
for nonmanufacturing. The adjustments were applied separately to each major industry; their net effect was to lower
the manufacturing total by $1.19 billion and raise the nonmanufacturing total by $1.07 billion.
550-325 O - 74 - 3
1974 are two-thirds of 1 percent lower
than in the February survey, because
of reduced spending plans for the second
half of the year. Actual spending in the
first quarter about equaled plans in
February, and plans for the second
quarter are about one-half of 1 percent
higher.
The reduction in 1974 spending plans
centers in industries other than manufacturing. Electric and gas utilities, and
mining and communication firms have
reduced their plans since the February
survey, more than offsetting increases
by railroads and other transportation
industries excluding air. Manufacturers
have raised spending plans slightly.
Increases for the petroleum, chemical,
primary metal, nonelectrical machinery,
and stone-clay-glass industries outweigh
reductions for motor vehicles, electrical
machinery, food-beverage, rubber, and
for some other manufacturing industries
that are not shown separately in the
tabulations.
Manufacturing programs
In the first quarter, manufacturers'
spending rose 5.8 percent to a seasonally
Table 1.—Plant and Equipment Expend!
tures, Annual Percent Change 1973-1974
Expected 1974
Actual as reported in:
1973
Feb.
All industries.
Manufacturing
Durable goods
Primary metals 1 _ _
.
Blast furnaces, steel works
Nonferrous
_ _ _
Electrical machinery
Machinery, except electrical
Transportation equipment 1
Motor vehicles
-_
Aircraft
Stone clay and glass
Other durables
Nondurable goods
-_
Mining
_
Railroad
Air transportation
Other transportation
Public utilities
Electric
Gas and other
Communication
Commercial and other
- _-
12.8
13.0
12.2
21.2
19.3
19.8
23.1
17.6
16.8
24.8
11.3
40.9
19.1
18.0
23.2
24.9
23.9
23.6
28.1
25.5
29.2
27.3
12.1
14.3
24.3
25.4
35.0
-.7
18.8
30.5
31.8
31.0
8.6
21.5
19.1
16.1
47.2
5.7
10.8
19.4
21.1
22.8
21.8
5.2
34.4
29.2
3.8
44.0
22.6
15.5
5.0
34.8
19.3
31.7
7.4
6.1
7.0
14.1
38.4
22.6
41.3
2.8
-4.7
8.1
9.1
7.6
13.2
17.1
- 9.2 21.3
-2.1 -12.5
14.0 -3.3
10.1 18.6
16.8
10.1
29.4
9.7
8.1 10.1
1.4
6.6
8.9
29.6
-13.0
20.0
14.2
13.6
17.8
7.4
1.2
Food including beverage
Textile
Paper
Chemical
Petroleum
_ _ _ _ _ _
Rubber
Other nondurables _ _ _ _
Nonmanufacturinjj
May
1. Includes industries not shown separately.
Source: U.S. Department of Commerce, Bureau of Economic Analysis.
SURVEY OF CURRENT BUSINESS
18
Table 2.—'Plant and Equipment Expenditures, 1973-74
(Billions of dollars, seasonally adjusted annual rates)
1974
19 73
All industries
I
II
III
IV
% 19
97 76
100 90
103. 74
Hi
IIIi
107 27
110 58
113. 16
116. 0^
46.00
23.25
22.76
47.4
22.6
24. 81
67.15
68.6
I
M anuf acturing
Durable goods
Nondurable goods .
35.51
17.88
17.63
36.58
18.64
17.94
38.81
19.73
19.08
40.61
20.48
20.13
42.96
21.43
21.53
45.22
22.60
22.61
Nonmanufacturing
60.68
61.18
62.09
63.12
64.31
65.36
IV i
1. Expected.
Source: U.S. Department of Commerce, Bureau of Economic Analysis.
adjusted annual rate of $43 billion. If
the 5.2 percent rise planned for the
second quarter materializes, spending
for the first half of this year will rise
11 percent from the second half of
last year. Plans for the second half of
this year call for a 6 percent increase
from the first half. Investment plans
for all the major manufacturing industries except rubber, food, and stoneclay-glass show larger increases in the
first half of 1974 than in the second
half.
Manufacturers' spending plans for
1974 exceed actual spending in 1973 by
almost 20 percent, with nondurable
June 1974
and durable goods, producers planning
23 and 17 percent increases, respectively. All major industry groups except
"other nondurables" plan increases,
with the largest reported by petroleum
refining, paper, aircraft, and primary
metals.
New investment projects started by
manufacturers during the first quarter
of 1974 totaled $11.8 billion after
seasonal adjustment, compared with
$12.5 billion in the preceding quarter
and $10.9 billion a year ago. Starts by
nondurable goods producers rose about
2% percent, reflecting increases for the
petroleum and food industries. Producers of durables reported a 12 percent
decline from the record set in the fourth
quarter of 1973; all of the major industry groups except nonelectrical machinery reported declines.
Table 3.—Starts and Carryover of Plant and Equipment Projects, Manufacturing and Public Utilities, 1971-74
(Billions of dollars)
Carryover 2
Starts i
Annual
1974
1973
1971
Manufacturing3
Durable goods 3
Primary metals. _ _
Electrical machinery
Machinery, except electrical
Transportation equipment * .. _
Stone, clay, and glass
Nondurable goods 3
Food including beverage ...
Textile Paper
Chemical _
Petroleum
.
_ _ _.
Public utilities
1972
•
1973
I
II
III
IV
I
1974
1973
March
June
Sept.
Dec.
March
28.00
35.21
47.57
11.08
12.11
11.50
12.88
12.40
24.63
27.58
29.46
30.91
33.82
13.59
17.07
23.73
5.34
5.86
5.83
6.70
6.00
11.95
13.16
14.14
15.01
16.27
2.44
1.82
2.59
2.34
.94
3.19
2.34
3.11
2.66
.1.46
5.00
3.32
3.71
3.86
1.81
1.16
.71
.87
.88
.37
1.14
.77
.97
.98
.53
1.23
.74
.86
1.00
.52
1.48
1.09
1.00
1.00
.39
1.84
.71
1.24
.82
.36
3.60
1.72
1.14
2.81
.84
3.94
1.83
1.24
3.04
1.00
4.26
1.86
1.27
3.24
1.16
4.68
2.05
1.27
3.30
1.12
5.59
2.12
1.68
3.25
1.16
M.42
18.14
23.84
5.74
6.26
5.67
6.17
6.40
12.68
14.43
15.32
15.90
17.55
2.49
.71
1.00
3.25
5.14
2.98
.64
1.60
3.92
6.15
3.71
.93
2.40
6.65
7.02
.72
.31
.58
1.57
1.74
.90
.20
.54
1.44
2.41
1.24
.16
.51
1.86
1.12
.86
.26
.78
1.78
1.75
1.01
.25
.77
1.74
2.00
1.50
.35
1.16
3.50
4.62
1.62
.37
1.24
3.88
5.78
2.04
.33
1.23
4.63
5.51
2.02
.38
1.48
4.99
5.56
2.32
.40
1.76
5.54
6.08
22.22
28.60
38.13
8.46
8.21
9.58
16.33
49.80
53.67
57.07
61.29
73.24
11.88
Adjusted for seasonal variation
Manufacturing3
_
_
Durable goods 3
Primary metals
Electrical machinery
Machinery, except electrical4
Transportation equipment
Stone, clay, and glass _
Nondurable goods 3
_ . . .
Food including beverage. .
Textile .
Paper. _
Chemical
Petroleum
Public utilities
10.89
12.36
12.09
12.46
11.85
24.05
27.26
29.65
31.%
33.07
5.19
6.02
6.18
6.46
5.70
11.64
13.00
14.24
15.58
15.92
.99
.69
.94
.87
.30
1.24
.86
.98
.93
.57
1.24
.81
.98
.98
.50
1.63
.95
.79
1.08
.44
1.52
.70
1.32
.82
.30
3.49
1.64
1.10
2.80
.81
3.90
1.82
1.22
3.00
1.01
4.23
1.89
1.35
3.20
1.13
4.95
2.12
1.26
3.40
1.19
5.42
2.06
1.63
3.23
1.16
5.70
6.34
5.91
6.00
6.16
12.41
14.26
15.40
16.37
17.15
.79
.31
.54
1.46
1.72
.85
.17
.58
1.45
2.56
1.19
.17
.53
1.91
1.26
.88
.30
.77
1.89
1.48
1.08
.22
.70
1.50
2.00
1.51
.35
1.10
3.42
4.47
1.61
.35
1.22
3.83
5.74
2.01
.32
1.25
4.58
5.65
2.04
.42
1.55
5.22
5.65
2.35
.39
1.68
5.38
5.90
7.94
10.00
11.25
9.71
10.42
46.99
52.47
59.08
63.84
69.23
1. Starts are estimated by adding changes in carryover to expenditures during the given period.
2. Carryover refers to expenditures yet to be incurred in plant and equipment projects already underway at end of period.
3. Includes data not shown separately.
4. Includes guided missiles and space vehicles.
NOTE.—Details may not add to totals because of rounding.
Source: U.S. Department of Commerce, Bureau of Economic Analysis.
SUEVEY OF CUKEENT BUSINESS
June 1974
The value of new projects started
exceeded spending in the first quarter,
resulting in an increase of carryover—
the amounts still to be spent on projects
already underway. Seasonally adjusted
carryover at the end of March totaled
$33.1 billion, up $1.1 billion from the
end of the fourth quarter (table 3).
There was little change in manufacturers' evaluation of the adequacy of
their capacity, in light of their prospective sales over the next 12 months.
Companies owning 54 percent of total
fixed assets in manufacturing reported
inadequate facilities as of March 31.
The figure was the same as the one
reported in the preceding survey (table
4). Increases for primary metals and
chemicals were offset by decreases for
the food-beverage machinery, and
transportation equipment industries.
19
Eailroads, which have increased their
1974 spending plans since the February
survey, now plan an increase of 30 percent, compared with a 9 percent actual
increase last year. Airlines plan to
spend about 13 percent less this year;
their spending declined 2 percent last
year after the large investment in
jumbo jets in 1972. Other transportation firms plan a 20 percent rise in
spending this year. This is traceable
primarily to the construction of the
Alaska pipeline.
The communication industry plans to
spend 1% percent more in 1974, about
the same as the actual increase in 1973.
Increases planned by the mining and
commercial groups—9 percent and 1
percent—are smaller than the actual
increases in 1973.
Nonmanufacturing programs
In the first quarter, nonmanufacturing industries spent at a seasonally
adjusted annual rate of $64.3 billion,
2 percent more than in the fourth quarter; they plan increases of \% percent,
2.7 percent, and 2.2 percent in the
remaining quarters of the year.
For 1974, nonmanufacturing industries as a whole plan a 7% percent
increase, compared with 8 percent in
1973. Public utilities plan a large increase—14 percent; in 1973 their spending increased 10 percent. In the first
quarter, starts of new projects totaled
$10.4 billion—$700 million more than
in the fourth quarter of 1973. Carryover
rose $5% billion to a total of $69.2
billion, after seasonal adjustment.
Table 4.—-Manufacturers' Evaluation of Their Capacity
(Percent distribution of gross capital assets) 1
1972
June 30
1974
19 73
Sept. 30
Dec. 31
Mar. 31
June 30
Sept. 30
Dec. 31
Mar. 31
More plant and equipment needed:
All manufacturing
Durable goods 2
Primary metals 3
Metal fabricators ~
Nondurable goods 2
Food including beverage
Chemical
Petroleum _
33
37
40
44
48
51
54
54
28
25
28
37
31
45
40
34
25
36
40
32
46
40
35
24
40
43
39
48
44
39
30
43
47
35
46
54
41
34
43
55
39
48
70
44
39
44
58
41
53
70
46
49
44
62
41
66
74
45
51
43
63
38
69
74
60
57
55
53
49
46
43
43
61
56
64
59
58
53
60
56
57
57
58
65
52
60
56
60
54
55
58
50
56
56
68
50
51
62
51
46
55
64
51
43
58
51
30
52
59
51
40
56
46
30
50
50
51
36
54
33
26
51
48
53
35
57
30
26
7
6
5
3
3
3
3
3
11
19
g
4
11
2
0
10
18
7
2
3
2
0
9
16
6
2
3
2
0
5
2
7
2
3
3
0
4
2
6
2
3
1
0
4
2
5
2
3
1
0
4
1
5
2
5
1
0
4
1
4
2
5
1
0
About adequate:
All manufacturing
Durable goods 2
Primary metals 3
Metal fabricators - _
Nondurable goods 2
Food including beverage _
Chemical
PetroleumExisting plant and equipment exceeds
needs:
All manufacturing
Durable goods 2 _
Primary metals. 3
Metal fabricators
Nondurable goods 2
Food including beverage.
Chemical
Petroleum
1. According to respondent companies' characterizations of their plant and equipment facilities, taking into account their
current and prospective sales for the next 12 months.
2. Includes industries not shown separately.
3. Includes machinery, transportation equipment, and fabricated metals industries.
Source: U.S. Department of Commerce, Bureau of Economic Analysis.
SURVEY OF CURRENT BUSINESS
20
June 1974
Table 5.—Expenditures for New Plant and Equipment by U.S. Business l 1972-74
[Billions of dollars]
Annual
Quarterly, unadjusted
1972
1972 1973 19742
I
II
Quarterly, seasonally adjusted at annual rates
III
IV
I
II
1972
1974
1973
III
IV
I
112
III 2
I
II
III
1973
IV
I
II
III
1974
IV
I
112
III 2
All industries
88.44 99.74 111.96 19.38 22.01 21.86 25.20 21.50 24.73 25.04 28.48 24.10 27.% 28.05 86.79 87.12 87.67 91.94 96.19 97.76 100.90 103.74 107.27 110.58 113. 16
Manufacturing industries
31.35 38.01 45.52 6.61 7.63 7.74 9.38 7.80 9.16 9.62 11.43 9.49 11.25 11.36 30.09 30.37 30.98 33.64 35.51 36.58 38.81 40.61 42.96 45.22 46.00
15.64 19.25 22.49 3.29 3.71 3.86 4.77 3.92 4.65 4.84 5.84 4.74 5.62 5.69 15.06 14.77 15.67 16.86 17.88 18.64 19.73 20.48 21.43 22.60 23.25
Durable goods
Primary metals 3
.
Blast furnace, steel works
Nonferrous
..
2.75 3.43
1.24 1.38
1.18 1.67
4.48
1.83
2.19
.61
.25
.28
.65
.31
.25
.69
.31
.30
.80
.37
.35
.67
.27
.33
.80
.34
.37
.91 1.05
.34 .43
.45 .52
.93 1.07 1.13 2.82 2.63 2.76 2.78 3.08 3.30
.35 .44 .46 1.24 1.25 1.23 1.26 1.32 1.37
.48 .50 .54 1.27 1.05 1.20 1.22 1.42 1.55
3.64
1.38
1.83
3.64
1.44
1.82
4.17
1.70
1.99
4.42
1.79
2.16
4.52
1.88
2.14
Electrical machinery .
Machinery except electrical
2.39 2.84
2.90 3.42
3.08
4.15
.45
.58
.56
.69
.58
.72
.80
.90
.56
.71
.66
.87
.72 .90
.83 1.00
.63 .77 .75 2.14 2.25 2.41 2.65 2.73 2.69
.83 1.09 1.07 2.60 2.73 2.99 3.20 3.23 3.44
2.99
3.43
2.92
3.53
3.04
3.78
3.12
4.32
3.12
4.40
Transportation equipment 3.
Motor vehicles
Aircraft *
Stone, clay, and glass..
Other durables s
2.53
1.83
.43
1.20
3.87
3.12
2.28
.53
1.49
4.96
3.71
2.65
.79
1.57
5.50
.55
.39
.09
.26
.84
.63
.46
.10
.28
.91
.63 .72 .62 .74 .80 .95 .87 .90 .94
.45 .53 .43 .54 .60 .71 .66 .63 .65
.11 .12 .12 .12 .13 .16 .17 .19 .20
.29 .38 .33 .37 .36 .43 .32 .39 .40
.95 1.17 1.03 1.20 1.23 1.51 1.16 1.41 1.39
3.12
2.35
.51
1.53
5.02
3.56
2.67
.57
1.54
5.30
3.94
3.02
.75
1.33
5.17
3.55
2.46
.78
1.54
5.65
3.74
2.60
.79
1.68
5.78
2.48
1.71
.45
1.12
3.90
2.48
1.79
.43
1.09
3.59
2.40
1.72
.42
1.22
3.89
2.76
2.08
.42
1.36
4.10
2.81
1.97
.56
1.38
4.65
2.92
2.09
.50
1.48
4. 82
15.72 18.76 23.03 3.32 3.92 3.87 4.61 3.88 4.51 4.78 5.59 4.75 5.64 5.67 15.02 15.60 15.31 16.78 17.63 17.94 19.08 20.13 21.53 22.61 22.76
Nondurable goods
Food including beverage
Textile
Paper
Chemical
2.55 3.11
.73 .77
1.38 1.86
3.45 4.46
3.33
.87
2.57
5.46
.65 .78 .81 .87 .71 .82 .87 2.46 2.42 2.73 2.59 2.85 2.98
.18 .18 .20 .21 .23 .22 .20 .82 .74 .66 .70 .79 .67
.36 .46 .51 .53 .49 .63 .66 1.27 1.39 1.27 1.56 1.70 1.83
.87 1.06 1.11 1.41 1.20 1.31 1.30 3.29 3.30 3.38 3.78 3.86 4.15
3.17
.80
2.00
4.67
3.40
.81
1.88
5.02
3.11
.99
2.27
5.34
3.14
.82
2.57
5.18
3.42
.80
2.56
5.53
Petroleum
Rubber
Other nondurables 6
5.25 5.45
1.08 1.56
1.27 1.56
7.70 1.08 1.34 1.28 1.56 1.10 1.26 1.39 1.71 1.47 1.88 1.88 4.99 5.54 4.98 5.45 5.19 5.17
1.60 .21 .24 .28 .35 .36 .37 .40 .44 .33 .39 .40 .92 .97 1.11 1.29 1.57 1.51
1.49 .27 .31 .31 .38 .37 .41 .37 .42 .33 .39 .36 1.27 1.24 1.18 1.40 1.66 1.62
5.40
1.60
1.45
5.93
1.56
1.53
6.99
1.39
1.44
7.78
1.62
1.51
7.36
1.59
1.49
Nonmanufacturing industries
.56
.18
.27
.75
.63
.19
.35
.85
.70 .66
.17 .18
.32 .44
.81 1.04
57.09 61.73 66.44 12.77 14.38 14.12 15.83 13.69 15.57 15.42 17.05 14.61 16.70 16.69 56.70 56.75 56.70 58.30 60.68 61.18 62.09 63.12 64.31 65.36 67.15
Mining
2.42 2.74
2.98
.58
.61
.59
.63
.63
.71
.69
.71
.68
.76
.75 2.42 2.38 2.40 2.46 2.59 2.77
2.82
2.76
2.80
2.97
3.06
Railroad
_
l.*80 1.96
2.54
.48
.48
.38
.47
.46
.46
.48
.56
.50
.65
.64 2.10 1.88 1.50 1.71 2.11 1.75
1.95
2.05
2.10
2.48
2.70
Air transportation
2.46 2.41
2.09
.50
.73
.61
.63
.52
.72
.57
.60
.47
63
.50 1.96 2.89 2.67 ?, 33 2.21 2.72
2.49
2.20
2.13
2.26
2.16
Other transportation
1.46 1.66
1.99
.32
.39
.35
.40
.32
.43
.44
.47
.34
.52
.57 1.48 1.53 1.41 1.42 1.53 1.62
1.79
1.73
1.63
1.93
2.17
.
17. 00 18.71 21.36 3.63 4.24 4.39 4.74 3.95 4.59 4.82 5.36 4.38 5.25 5.57 16.92 16.60 17.01 17.53 18.38 18.08 18.58 19.80 20.12 20.73 21.53
. . . 14.48 15.94 18.11 3.19 3.61 3.67 4.01 3.45 3.91 4.04 4.54 3.85 4.44 4.60 14.27 14.32 14.62 14.67 15.40 15.55 16.00 16.72 17.12 17.62 18.20
2.52 2.76 3.26 .44 .62 .72 .73 .50 .68 .77 .82 .52 .81 .97 2.65 2.27 2.38 2.86 2.98 2.52 2.58 3.08 3.00 3.11 3.32
Public utilities
Electric
Gas and other
Communication. . ..
11.89 12.85 13.80 2.72 2.95 2.84 3.39 2.87 3.27 3.19 3.53 3.19
7
20.07 21.40 21.66 4.55 4.98 4.97 5.57 4.94 5.40 5.24 5.83 5.05
Commercial and other
1. Excludes agricultural business; real estate operators; medical, legal, educational, and cultural services; and nonprofit organizations.
2. Estimates are based on expected capital expenditures reported by business in late April
and May 1974. The estimates for the second quarter and third quarter of 1974 have been corrected for systematic biases. The adjustment procedures are described in the February 1970
issue of the Survey of Current Business. Before such adjustments, 1974 expenditures were expected to be $112.08 billion for all industries, $46.71 billion for manufacturing and $65.36 billion
for nonmanufacturing.
3. Includes data not shown separately.
la 90 8.65'
11.71 11.59 11.56 12.63 12.34 12.70 13.12 13.24 13.83
20.10 19.88 20.16 20 21 21.53 21.55 21.36 21.35 21.69
J35.00 35.54
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.
NOTE.—Details may not add to totals because of rounding.
Source: U.S. Department of Commerce, Bureau of Economic Analysis.
By EVELYN M. PARRISH
11.8. Balance of Payments Developments:
First Quarter 1974
JL HE major measures of the U.S.
balance of payments in the first quarter
were diversely affected by several
special developments, especially changes
in trade and in financial transactions
related to the international petroleum
situation, the removal of U.S. controls
on capital outflows in late January,
and extraordinary U.S. Government
transactions.
Although the balance on goods and
services, in surplus by $2.9 billion in
the first quarter, was unchanged from
the fourth, there were contrasting
movements in the components of that
balance. A sharp decline in the merchandise trade surplus, primarily due
to higher-priced petroleum imports,
and a drop in military sales, reflecting
reduced transfers to Israel, were offset
by increased net income receipts stemming primarily from higher earnings of
foreign affiliates of U.S. petroleum
companies.
The balance on current account
shifted from a surplus of $1.8 billion in
the fourth quarter to near-balance in
the first. The shift was more than
accounted for by an extraordinary $2.0
billion U.S. Government grant (in
rupees) to India. The grant was fully
offset by an equivalent repayment (in
rupees) by India of loans previously
extended. Accordingly, there was no
net effect on the balance on current
account and long-term capital. The
NOTE.—Data for the article were prepared
by the staffs of the Balance of Payments
Division and the International Investment
Division. In Highlights and Perspectives,
Eugene S. Kerber wrote the section on
Special U.S. Government Transactions,
William K. Chung, the section on Transactions of U.S. Petroleum Companies, and
Richard D. Carter, the section on Developments in 1973 by Major Area.
$2.6 billion improvement in that bal- foreign affiliates in the oil-producing
ance in the first quarter to a $2.1 countries. (Although direct investment
billion surplus reflected, in good part, transactions are listed among the longa substantial decline in U.S. direct term capital accounts, they include
investment outflows and a rise in short-term intercompany transactions;
foreign direct investment inflows. Most these are often volatile and thus may
of the change was accounted for by have substantial effects on the balance
short-term capital transfers between on current account and long-term
U.S. petroleum companies and their capital in any given quarter.) The
CHART 7
Balances on Major U.S. International Transactions
Billion $
Billion $
24
16
Official Reserve
Transactions
Current Account and
-N/
Long-Term Capital
Net Liquidity
-16
-24
-32
-40
-48
-56
16
8
Merchandise Trade*
0
Current Account
- -2
-8
I
-16
1968
I
69
i
70
I
71
Annually
I
72
I
73
74
1970
71
72
73
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
21
SUEVEY OF CURRENT BUSINESS
22
balance on current account and longterm capital was favorably affected also
by a reduction in net long-term outflows reported by banks and by a
slowing in the net repayment of longterm corporate borrowing abroad.
In contrast, net nonliquid short-term
private capital outflows increased $2.0
billion to $3.2 billion in the first
quarter. Most of the increase was in
bank lending to foreigners, which rose an
unprecedented $2.8 billion compared
with a $1.1 billion rise in the fourth
quarter. The outflow was particularly
large in February and March, following
the removal of U.S. capital controls.
This increase in nonliquid short-term
outflows, combined with a $0.5 billion
decline in inflows associated with unrecorded transactions, nearly offset the
improvement in long-term capital transactions. Thus, the net liquidity deficit—
$0.9 billion in the first quarter—was
only slightly reduced.
Net liquid private capital inflows
decreased $1.7 billion to $1.9 billion
in the first quarter. The decline was
primarily due to a sharp rise in liquid
claims on foreigners, mainly those
reported by U.S. banks, that was partly
offset by an increase in liquid liabilities
to foreigners. (Included in the latter
June 1974
were large inflows from foreign branches
The dollar weakened in international
of U.S. banks at the end of the first exchange markets beginning in late
quarter, which were immediately re- January, especially after U.S. controls
versed at the beginning of the second on capital outflows were removed.
quarter.) The adverse shift in these net By the end of March, most of the Noliquid private capital flows reduced vember-January appreciation of the
the official reserve transactions surplus dollar was dissipated, and the tradeto $1.0 billion in the first quarter from weighted average depreciation of the
$2.7 billion in the fourth.
dollar, measured against May 1970
exchange rates, was about 17 percent
Exchange rate developments
vis-a-vis the currencies of OECD
Under the system of generally float- countries.
ing exchange rates, which was adopted
Current account transactions
for the dollar and the currencies of
several other leading countries in early
The merchandise trade surplus was
1973, exchange market pressures on $0.1 billion in the first quarter, comthe dollar are reflected in exchange rate pared with $1.3 billion in the fourth.
changes unless monetary authorities Exports rose 10 percent in value to
intervene in the exchange markets. $22.3 billion and imports 18 percent
There was some limited intervention to $22.2 billion. Most of the increase
by U.S. and foreign monetary authori- reflected higher prices; the physical
ties in the exchange markets during the volume of exports rose only about 2
first quarter in order to maintain orderly percent and that of imports, 1 percent.
conditions, and this intervention was (These figures are adjusted to a balance
reflected in the change in the official of payments basis excluding "military"
reserve transactions balance. The bal- trade of the U.S. defense agencies.)
ance was also affected by investments
Imports of petroleum and products
in the United States by foreign mone- (including imports into the Virgin
tary authorities of dollars borrowed by Islands) were $4.9 billion, compared
their banks and governmental orga- with $2.7 billion in the fourth quarter,
nizations and of funds derived from as a 110 percent price rise (as measured
petroleum revenues.
by unit values) more than offset a 15
Table A.—Summary or U.S. International Transactions
[Millions of dollars, seasonally adjusted]
Line
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
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)
—2, 722
2,552
Balance on goods and services
-170
Remittances, pensions and other transfers (31, 32)
Balance on goods, services, and remittances
1971
.-
U.S. Government grants (excluding military grants
of goods and services) (30)
Balance on current account
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
1973
II
III
I
—6,009
4,543
10, 552 —1,763 — 1 722 — 1 194 — 1 330
—193
—2,043
—2 173 — 1 933
—3,817
—9 807
2,600
667
—1 330 — 1 539
-98
127
-10,559 -11,235
-744
3,502
IP
—360
479
602
1 081
1,343
1 591
101
2,801
-1,242
1,210
119
2,934
2,902
-32
-404
-412
-717
-396
321
—597
—292
1,271
2,217
2,506
289
—457
—357
—645
—485
—447
-2,534
-2, 087
10 474 —2 753 —2 676 —2 152 —2 226
—954
—937
786
1,770
i -28
-1,798
—371
319
94
-315
-862 i 1, 351
—398
742
1,529 -1,406
2,213
2,148
2,065
2,563
97 -1,253 —3, 224
-1,971
0
-502
-396
-385
10,234 —2, 167 —2 118 —1,579 —1,769
240
—209
225
—586
—309
-836
10, 491 -3, 898
—558
— 105
398
—573
—370
-386
—544
726
-2,383 -2,908 -2, 044
-1,006 -1, 158
—999
177
—870
—1,663 —1,457
6,060 —3,327 —2, 346 —4, 445 —3, 736
—6, 754 -1,711
2,492 -1, 010
-29, 753 -10,354 -5,304
IV
1,683
-404
-439
—1 541 —4, 276 —2 735
—710
710
—1,790 —2, 776
—986
-21, 965 —13,856 —7, 796
III
-411
-319
—423
178
816
180
5,050 —3, 147
301
—420
177
178
—442 —1,294
—4, 085
904
1,917
-387
-498
792
1
290
1,627
-959
-869
90
-3,441
1,997
316
3,620
1,913
-1, 707
—872 —4, 722 -1,611 —10, 195
286
1,943
2,661
1,044
-1,617
1,474
-277
"Preliminary.
Includes extraordinary U.S. Government transactions with India; see "Special U.S. Government Transactions" in text.
NOTE.—Details may not add to totals because of rounding.
1
IV
—962
769
—7,634
-7,788
I
1974
19'73
7,609 — 1,827 — 1 795 — 1,596 — 1 768
2 941
402
73
64
438
-1,774
II
Change:
1973
IV1974-1
19 72
623
3 918
-1,624 -1,943
—2,347
717
-9, 776
Change:
19721973
—6, 986
977
-1,604
U.S. Government capital flows, net, and nonliquid liabilities to other than foreign official reserve agencies
(33,48)
—2 362
Long-term private capital flows, net (39-41, 44, 49-51, 53). -4,381
Balance on current account and long-term capital
1972
2,125
SURVEY OF CURRENT BUSINESS
June 1974
CHART 8
Change in Selected Exchange Rates
From May 29, 1970 Base Rates
Effective changes of U.S. dollar vis-a-vis
OECD currencies1
-10
-20
-30
Percent change of U.S. dollar
against foreign currencies 3
20
CANADA
10
0
40
JAPAN
30
20
10
20
UNITED KINGDOM
10
_^^*~\^^
-10
60
,
,
,
1
,
,
,
yX\
1
,
,
,
1
,
,
,
WEST GERMANY
50
40
30
20
10
^_.
ITALY
10
-10
1971
1972
1973
1974
1. Trade-weighted average depreciation of U.S. dollar against currencies of OECD
countries at end of quarter. Source: OASIA, U.S. Department of the Treasury.
2. Represents the percentage change between base rate on May 29, 1970, and the
central rates established in the Smithsonian Agreement on December 18, 1971.
3. Spot rates at end of quarter.
U.S. Department of Commerce, Bureau of Economic Analysis
percent volume drop. Imports of other
goods rose about 7 percent in value and
3 percent in volume. Exports of agricultural products rose 12 percent to
$5.9 billion— entirely due to higher
prices. Nonagricultural exports rose
10 percent in value, to $16.4 billion,
and about 2 percent in volume.
The $1.2 billion deterioration in the
first quarter trade balance was more
than accounted for by changes with the
developing areas. The balance with
Latin America shifted from nearbalance to a deficit of $0.9 billion,
as imports rose $1.4 billion and exports
$0.5 billion, and the balance with the
developing nations of Asia and Africa
shifted from a $0.2 billion surplus to
a $0.2 billion deficit. Among other
areas, the widening of the deficits
with Japan and Canada reflected more
rapid rises in imports than exports,
while reduced surpluses with the United
Kingdom and Eastern Europe occurred
as exports declined and imports increased. On the other hand, substantially higher exports accounted
for the rise in the surpluses with
continental Western Europe and with
Australia, New Zealand, and South
Africa as a group.
The deficit on military transactions
(excluding transfers under military
grants of goods and services) was $0.5
billion in the first quarter, compared
with $0.1 billion in the fourth. Deliveries under U.S. military agency sales
contracts dropped to $0.7 billion, from
$1.0 billion in the fourth quarter. Increased deliveries of aircraft and other
military hardware to West Germany,
Greece, Iran, and Saudi Arabia were
more than offset by decreased deliveries
to Israel, following substantial special
transfers of military equipment to that
country in the fourth quarter. Direct
defense expenditures showed a small
rise, as purchases of petroleum (at
doubled prices) were increased to replenish inventories that had been reduced in the fourth quarter.
The travel and transportation deficit
declined $0.1 billion to $0.5 billion. Receipts from foreign travelers in the
United States and from fares paid by
foreign travelers to U.S. air carriers —
especially by visitors from Japan, Can-
23
ada, and Latin America—rose nearly
$0.2 billion, while U.S. travel expenditures abroad and U.S. travelers' payments to foreign carriers remained
about the same as in the fourth quarter.
Net receipts for other transportation
services declined $0.1 billion.
Net investment income receipts rose
$1.5 billion to $2.9 billion. Income receipts—interest, dividends and branch
profits —from U.S. direct investments
abroad rose $1.8 billion to $4.4 billion,
while income payments for foreign
direct investments in the United States
rose $0.4 billion to $0.8 billion. Virtually
all of the changes were related to foreign
operations of U.S. petroleum companies
and the sharply higher prices for their
products. (See Highlights and Perspectives— Transactions of U.S. Petroleum
Companies.) Receipts of income on
other U.S. investments abroad rose
nearly $0.2 billion, reflecting higher income on U.S. Government assets and a
marked increase in income stemming
from foreign lending by U.S. banks. Income payments on foreign investment
in the United States, other than direct
investment, showed little change.
As a result of the foregoing transactions, the balance on goods and services
was in surplus by $2.9 billion in the first
quarter, the same as in the fourth.
Private remittances, pensions and other
transfers declined $0.3 billion, mainly
because remittances to Israel dropped
to more normal levels following a sharp
fourth quarter rise. Consequently the
balance on goods, services, and remittances improved $0.3 billion to a
$2.5 billion surplus.
U.S. Government grants in the first
quarter were a record $2.5 billion,
largely due to the $2.0 billion (in rupees)
paid to the Indian Government under
an agreement signed February 18, 1974.
(See Highlights and Perspectives —
Special U.S. Government Transactions.) Other grants increased about
$0.1 billion. Thus, the deterioration in
the balance on current account from
a $1.8 billion surplus in the fourth
quarter to near-balance in the first
was more than accounted for by the
special transaction with India; excluding that transaction the current
account balance would have improved
$0.2 billion.
SURVEY OF CURRENT BUSINESS
24
Long-term capital flows
of rupees, equalled the U.S. grant to
India previously mentioned.
Among net private long-term capital
transactions, the major shift was in
U.S. direct investment outflows, which
declined from $1.4 billion in the fourth
quarter to $0.2 billion in the first. There
were very large net inflows in shortterm direct investment accounts from
petroleum-producing foreign affiliates in
the Middle East, Africa, and Latin
Net U.S. Government and private
long-term capital transactions shifted
by $4.4 billion to a net inflow of $2.1
billion in the first quarter. Nearly
half of the change was in U.S. Government transactions and was primarily
due to a $2.1 billion repayment (in
rupees) of loans .by India. This transaction, net of a $0.1 billion accompanying
increase in U.S. Government holdings
June 1974
America. These inflows were only partly
offset by net outflows, also in shortterm accounts, to refining and marketing affiliates of U.S. petroleum companies, particularly in Western Europe
and Japan. The changes in the shortterm accounts probably reflected delays
both by U.S. parent companies in payments to their petroleum-producing
affiliates and delays in payments by
petroleum-consuming affiliates to their
Table Bl.—U.S. Merchandise Trade, by Principal End-Use Categories—Reconciled to Balance of Payments Basis
[Millions of Dollars]
Seasonall y adjusted
Line (Numbers in parentheses ( ) refer to line numbers in table 4)
1971
1972
1973
Change:
1972-73
1972
I
II
1973
III
IV
1974
I
II
III
IV
I'
Change:
1973 IV19741
EXPORTS
1 Total, adjusted to balance of payments basis, excluding
42,754
"military" (8)
2
3
48,768
70,252
21,484
11,655
11,534
12,357
13,222
15,228
16,670
18, 143
20,211
22,299
2,088
7,806
34,948
9,487
39, 281
17, 863
52,389
8,376
13, 108
2,215
9,440
2,187
9,347
2,395
9,962
2,690
10, 532
3,686
11, 542
4,129
12, 541
4,758
13,385
5,290
14, 921
5,903
16, 396
613
1,475
6,074
5,931
7,471
7,305
15, 077
14,788
7,606
7,483
1,600
1,558
1,797
1,759
1,948
1,906
2,126
2,082
3,016
2,962
3,470
3,400
4,013
3,928
4,578
4,498
4,985
4,908
407
410
12, 726
1,787
10, 939
479
14,018
2,083
11, 935
444
19, 869
2,896
16, 973
557
5,851
824
5,027
113
3,544
636
2,908
113
3,195
407
2,788
104
3,464
461
3,003
112
3,815
579
3,236
115
4,267
693
3,574
120
4,668
694
3,974
130
5,217
776
4,441
143
5,717
733
4,984
164
6,675
943
5,732
171
958
210
748
7
15, 119
_ - . . 11, 592
1,918
16,690
13, 135
1,707
21, 519
17,047
2,315
4,829
3,912
608
4,097
3,155
524
4,026
3,157
440
4,158
3,324
328
4,409
3,499
415
4,798
3,763
551
5,145
3,985
644
5,493
4,448
493
6,083
4,851
627
6,524
5,098
770
441
247
143
1,148
846
302
1,193
907
286
1,363
1,070
293
1,415
1,078
337
1,514
1,146
368
1,496
1,111
385
1, 544
1,126
418
1, 758
1,302
456
1,794
1,289
505
36
-13
49
Agricultural goods (18a) adjusted *
N onagri cultural goods (18c) adjusted *
4
5
Foods, feeds, and beverages (19) adjusted *
Foods, feeds, and beverages-Agricultural, adjusted *
6
7
8
9
Industrial supplies and materials (23) adjusted *
Agricultural *
. ... N onagri cultural *
Petroleum and products (part of 24) adjusted *
.
10
11
12
Capital goods except automotive (34)
Machinery, except consumer-type (35) _ .
Civilian aircraft, complete — all types (44a)
13
14
15
Automotive vehiclesl parts, and engines (46)
To Canada (47)
To all other areas (48)
4,396
3,210
1,186
5,119
3,901
1,218
6,312
4,685
1,627
1,193
784
409
16
17
Consumer goods (nonfood), except automotive (52)...
All other, including balance of payments adjustments * not
included above
-
2,847
3,492
4,703
1,211
829
845
894
924
1,031
1,178
1,217
1,277
1,743
466
1,592
1,978
2,772
794
437
478
530
533
602
713
659
798
578
-220
IMPORTS
18
Total, adjusted to balance of payments basis, excluding
45,476
"military" (15)
55, 754
69, 629
13,875
13,482
13,329
13, 953
14, 990
16, 190
17, 030
17,541
18, 868
22, 198
3,330
5,766
39, 710
6,513
49, 241
8,450
61, 179
1,937
11, 938
1,644
11, 838
1,519
11,810
1,641
12, 312
1,709
13, 281
1,915
14, 275
2,108
14, 922
2,095
15, 446
2,332
16, 536
2,590
19, 608
258
3,072
6,366
- .. 17, 453
3,639
7,265
20, 990
4,660
9,081
27, 479
8,076
1,816
6,489
3,416
1,818
4,974
1,063
1,726
4,998
1,110
1,823
5,309
1,252
1,898
5,709
1,235
2,136
6,280
1,524
2,239
6,474
1,804
2,197
6,901
2,066
2,509
7,824
2,682
2,850
10,550
4,883
341
2,726
2,201
19
20
Agricultural goods
-- Nonagricultural goods adjusted*
21
22
23
Foods feeds and beverages (61)
Industrial supplies and materials (66) adjusted*
Petroleum and products (67a) adjusted*
24
25
26
Capital goods except automotive (80) adjusted*
Machinery, except consumer-type (81) adjusted*
Civilian aircraft engines parts (89)
4,187
3,960
227
5,669
5,232
437
7,850
7,265
585
2,181
1,810
147
1,330
1,242
88
1,337
1,226
110
1,429
1,331
98
1,573
1,433
141
1,724
1,576
148
1,980
1,841
139
2,013
1,854
159
2,133
1,994
139
2,052
1,899
153
-81
-95
14
27
28
29
Automotive vehicles, parts, and engines (90) adjusted*
From Canada (adjusted to transactions value) (92)*
From all other areas (93)
7,360
3,975
3,385
8,692
4,624
4,068
10, 189
5,221
4,968
1,497
597
900
2,090
1,115
975
2,139
1,151
988
2,123
1,121
1,002
2,340
1,237
1,103
2,429
1,303
1,126
2,582
1,325
1,257
2,569
1,268
1,301
2,609
1,325
1,284
2,792
1,303
1,489
183
-22
205
30
31
Consumer goods (nonfood), except automotive (97)
All other, including balance of payment adjustments* not
included above
8,561
11, 355
13, 132
1,777
2,804
2,704
2,880
2,967
3,162
3,246
3,370
3,354
3,306
-48
1,549
1,783
1,898
115
466
425
389
503
459
509
491
439
648
209
-360
602
1,343
101
1,242
-
BALANCE (EXPORT SURPLUS +)
32
Balance on merchandise trade, adjusted to balance of payments basis, excluding "military" (17)
-2, 722 -6,986
p
623
Preliminary.
*"Adjusted" items reflect balance of payments corrections to Census trade figures for
coverage, valuation, and timing: Line 4 is adjusted for changes in stocks of U.S. grain stored
in Canada; lines 6 and 22 include exports and imports of nonmonetary gold, electric power,
and petroleum trade of the Virgin Islands, but petroleum imports by U.S. military agencies
are excluded from line 22 (and line 23); line 22 also excludes imports—and line 17 excludes
reexports—of natural gas in transit through the United States from western to eastern Canada;
line 24 and 25 include imports of vessels not recorded in Census statistics; lines 27 and 28
reflect adjustments for the overvaluation in Census import data of autos and trucks from
7,609 -1,827 -1,795 -1,596 -1,768
-962
Canada. (NOTE.—Quarterly figures for all items are adjusted to correct for discrepancy between sum of four quarters, seasonally adjusted, and the unadjusted recorded annual totals.)
1. The statistical identification of automotive products exports to Canada (line 14) 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, combined with some degree of unreported export shipments,
results in an undercounting of automotive exports to Canada (line 14) which—estimated
from examination of Canada's import statistics—amounted to about $875 million in 1973 and
$550 million annually in 1972 and 1971.
SURVEY OF CURRENT BUSINESS
June 1974
U.S. parents. Direct investment capital quarters of 1973 and 1972, respectively;
outflows to foreign affiliates in other other U.S. industries reported net outindustries, especially in Western Europe flows of $1.4 billion in the first quarter
and Canada, continued high in the first of this year, about the same as a year
earlier, but about $0.3 billion higher
quarter.
Because of the overriding impact of than 2 years earlier. (Direct investment
the petroleum situation, it is not pos- outflows were exceptionally high in the
sible to determine to what extent the first quarter 1973 when expectations of
removal of OFDI controls on capital exchange rate changes were widespread.)
Foreign direct investment inflows
outflows on January 29, 1974, affected
direct investment transactions. Sea- into the United States were $1.1 billion
sonally unadjusted data for U.S. direct in the first quarter, up $0.4 billion from
investments abroad indicate that the the fourth. A large part of the increase
U.S. petroleum industry reported net reflected liabilities to an associated
inflows of $0.5 billion in the first quarter foreigner by a U.S.-incorporated petro1974, compared with net outflows of leum company. (See Highlights and
$1.0 billion and $0.6 billion in the first Perspectives—Transactions of U.S.
25
Petroleum Companies.) New acquisitions included in the first quarter data
amounted to $0.2 billion, compared
with $0.5 billion in the fourth.
Net U.S. purchases of foreign securities rose $0.1 billion to a record $0.6
billion. A $0.3 billion rise in purchases
of new Canadian issues was partially
offset by a $0.2 billion decline in other
foreign securities transactions, mainly
reflecting a reduction in new Israel
issues from their high fourth quarter
level.
Net foreign purchases of U.S. securities, at $0.7 billion, were virtually
unchanged, as declines in purchases of
U.S. stocks and bonds issued abroad by
Table B2.—U.S. Merchandise Exports and Imports, by Major World Areas1-—Balance of Payments Basis, "Excluding Military"
[Millions of dollars]
Seasonally adjusted
Line
1971
1972
1973
Change:
1972-73
1972
I
II
1974
1973
III
IV
I
II
III
IV
IP
Change:
1973
IV1974
I
EXPORTS
1 Total, all countries
2
3
4
5
Western Europe
United Kingdom.. .. EEC(6)
Other Western Europe
6
7
8
Eastern Europe . .
Canada
Latin American Republics and other Western Hemisphere
9
10
11
. . . . .
Japan
..
Australia, New Zealand, and South Africa. .
Other countries in Asia and Africa
42,754
48,768
70,252
21,484
11,655
11,534
12,357
13,222
15,228
16,670
18, 143
20,211
22, 299
2,088
13, 592
2,404
8,019
3,169
14,992
2,732
8,642
3,618
21,326
3,772
12,483
5,071
6,334
1,040
3,841
1,453
3,643
694
2,099
850
3,496
618
2,024
854
3,768
684
2,139
945
4,087
733
2,375
979
4,775
111
2,830
1,168
5,069
915
2,977
1,177
5,367
962
3,216
1,189
6,111
1,121
3,461
1,529
6,675
1,029
3,983
1,663
564
-92
522
134
409
10,370
862
12,488
1,917
15, 574
1,055
3,086
147
2,890
136
3,056
262
3,254
328
3,304
420
3,588
576
3,809
492
3,761
435
4,412
354
4,702
-81
290
6,462
7,228
9,951
2,723
1,775
1,744
1,843
1,851
2,054
2,278
2,650
2,965
3,426
461
4,053
1,693
6,175
4,963
1,543
6,692
8,356
2,249
10,879
3,393
706
4,187
1,162
392
1,646
1,144
357
1,601
1,242
382
1,606
1,411
408
1,833
1,802
478
2,111
2,052
542
2,344
2,224
548
3,101
2,287
677
3,324
2,612
821
3,709
325
144
385
IMPORTS
12 Total, all countries .
45,476
55,754
69,629
13,875
13,482
13,329
13,953
14,990
16,190
17^030
17,541
18,868
22, 198
3,330
12,813
2,477
7,600
2,736
15, 659
2,946
9,126
3,587
19, 534
3,520
11, 558
4,456
3,875
574
2,432
869
3,977
781
2,283
913
3,705
732
2,129
844
3,871
642
2,323
906
4,116
799
2,392
925
4,536
865
2,646
1,025
4,871
875
2,894
1,102
4,875
892
2,842
1,141
5,247
885
3,176
1,186
5,480
921
3,284
1,275
233
36
108
89
17
18
19
Eastern Europe
225
Canada
12, 130
Latin American Republics and other Western Hemisphere- 6,116
363
14,460
7,066
596
17, 173
9,619
233
2,713
2,553
70
3,400
1,767
75
3,550
1,654
108
3,526
1,787
110
3,982
1,863
122
4,188
2,103
146
4,270
2,216
139
4,265
2,367
189
4,451
2,933
278
4,880
4,301
89
429
1,368
20
21
22
Japan
Australia, New Zealand, and South Africa
O ther countries in Asia and Africa.
9,076
1,405
7,725
9,650
1,849
11, 208
574
444
3,483
2,191
308
1,769
2,198
339
1,808
2,305
369
1,987
2,378
383
2,158
2,437
403
2,401
2,424
433
2,670
2,435
442
3,018
2,356
573
3,119
2,870
492
3,897
514
-81
778
13
14
15
16
Western Europe
United Kingdom
EEC(6)
Other Western Europe
.
7,278
-
. . . 1,139
5,775
BALANCE (EXPORT SURPLUS +)
-962
-360
602
1,343
101
-1,242
24
25
26
27
Western Europe
United Kingdom .
EEC (6).
Other Western Europe
1,792
252
925
615
2,459
466
1,409
584
-334
-87
-184
-63
-209
-114
-105
10
-103
42
-184
39
-29
-66
-17
54
239
-88
184
143
198
40
83
75
492
70
374
48
864
236
285
343
1,195
108
699
388
331
-128
414
45
28
29
30
Eastern Europe
184
1,321
499
Canada
-1,760 -1,972 -1,599
Latin American Republics and other Western Hemisphere
162
332
346
822
373
77
-510
61
-494
154
-272
218
-678
298
-600
430
-461
353
-504
246
-39
76
-178
-170
-139
170
8
90
56
-12
-49
62
283
32
-875
-907
31
32
33
Japan
Australia, New Zealand, and South Africa .
Other countries in Asia and Africa
2,819 -1,029 -1,054 -1,063
262
84
18
13
704
-207
-381
-123
-967
25
-325
-635
75
-290
-372
109
-326
-211
106
83
-69
104
205
-258
329
-188
-189
225
-393
23 Total, all countries
.
-2,722 -6,986
779
-73
419
433
-667
-214
-484
31
623
-3, 225 -4, 113 -1,294
554
138
400
400 -1,033
-329
* Preliminary.
1. Annual data shown in this table match corresponding country and area data in table 9,
7,609 -1,827 -1,795 -1,596 -1,768
lines 2 and 16; seasonally adjusted quarterly data shown in this table are computed from
corresponding unadjusted quarterly data represented in table 9, lines 2 and 16.
SURVEY OF CURRENT BUSINESS
26
U.S. corporations were offset by increases in purchases of other bonds.
Most of the $0.1 billion decline in
foreign purchases of U.S. stocks reflected a shift to net sales by Japan.
Japan's imposition of controls on
foreign securities investments early in
1974 may have contributed to that
shift. Foreign purchases of bonds issued
abroad by U.S. corporations dropped
to only $25 million from $0.4 billion in
the fourth quarter. Only one issue was
floated—in January, before the announcement of the removal of U.S.
controls on capital outflows. On the
other hand, transactions in other U.S.
bonds shifted by $0.5 billion to net
purchases of $0.3 billion (mostly World
Bank purchases of U.S. agency bonds).
Among other long-term transactions,
U.S. bank-reported net capital outflows, although increasing after January, were $0.4 billion less in the first
quarter than in the fourth, and net
capital inflows of other U.S. concerns
shifted favorably by $0.3 billion, as
net repayments of liabilities slowed.
The $4.4 billion favorable shift in
all long-term capital transactions,
netted against the $1.8 billion deterioration in the current account balance,
resulted in an improvement of $2.6
June 1974
billion in the balance on current account and long-term capital to a
surplus of $2.1 billion.
flows and the $2.6 billion favorable
shift in the balance on current account
and long-term capital, resulted in a
$0.1 billion reduction in the net liquidShort-term, capital flows
ity deficit to $0.9 billion.
Net nonliquid short-term capital
Net liquid private capital inflows
outflows reported by U.S. banks rose were $1.9 billion, down $1.7 billion
$1.7 billion to $2.8 billion, as bank from the fourth quarter. The major
lending to foreigners increased sharply factor in the decline was a $2.2 billion
after the voluntary foreign credit shift in liquid claims; bank-reported
restraint program was terminated. The claims rose $2.2 billion following a
rise occurred despite high U.S. interest $0.5 billion increase in the fourth
rates, as foreign demand for credit quarter, and claims reported by other
increased substantially. Outflows to U.S. concerns rose $0.4 billion after a
Japan accounted for a large part of the very small increase. Liquid liabilities
increase. Based upon preliminary and to private foreigners increased $4.6
incomplete data, net nonliquid short- billion, $0.5 billion more than in the
term capital outflows reported by U.S. fourth quarter. This was mainly due
concerns other than banks rose $0.3 to a large inflow of about $2.0 billion
billion to $0.4 billion; liabilities in- from foreign branches of U.S. banks at
creased $0.3 billion, $0.2 billion less the end of the first quarter, which
than in the fourth quarter, while coincided with the end of a week;
claims increased $0.8 billion, $0.1 billion these inflows were reversed early in
more than the fourth quarter rise. the following week. Liquid liabilities
Inflows associated with transactions to international and regional organizanot covered by the reporting system tions were reduced $0.6 billion after
(errors and omissions) were $0.3 billion rising $0.4 billion in the fourth quarter.
The $1.7 billion decline in net
in the first quarter, down $0.5 billion
from the fourth. The $2.0 billion adverse inflows of liquid private capital, comshift in nonliquid short-term private bined with the $0.1 billion reduction
capital transactions, together with the in the net liquidity deficit, accounted
$0.5 billion decline in unreported in- for the $1.6 billion decline in the
Table C.—Net Change in U.S. Corporate Foreign Assets and Liabilities
1
[Millions of dollars, seasonally adjusted]
Line
Credits (+); debits (-) (lines in table 2 in which
transactions are included are indicated in ( ))
19 73
1972
1971
1972
1973
Change:
1972-73
I
II
III
1974
II
III
IV
I*
-765 -1,815
IV
I
Change:
1973
IV1974 I
1 Direct investment (39)
4 943
3 517
4,872 — 1 355 — 1,121
-973
-710
-1,374
-220
1,154
2
3
1 598
2 777
2,490
—287
268
1,029
614
866
780
284
870
556
260
-296
1 192
2 023
1,283
-740
-330
766
208
55
372
260
-18
589
185
92
414
266
100
274
15
-5
197
312
361
398
487
25
-37
272
-373
-329
783
296
-59
31
-818
—314 -1,318
4
5
Corporate foreign borrowing* total
New issues of securities sold abroad by U.S. corporations (50f)2
Other long-term liabilities (51)
Short-term liabilities (52f) 3
6
Direct investment net of corporate foreign borrowing 4
—3, 345
-740
-2,382 -1,642
-853
715
-704
7
8
9
10
Other corporate claims, total _
Long-term (44)
Short-term, nonliquid (45f)8
Short-term, liquid (46)
—1, 195
-168
—496
—531
-972 -2, 718 -1,746
-464
-211
-253
—214 — 1 413 -1, 199
-336
—505
-841
-183
-225
-74
37
-64
-16
-248
-146
-145
-104
-164
11
Total net corporate capital flow
—4,540 -1,712 -5,100 -3,388 -1,036
490
-952
12
13
14
15
16
....
384
22
594
160
264
943
20
40
858
-810 -1,297
-125
-101
-760
-688
-412
-21
-487
-502 -1,628 -1,257
371
25
-373
n.a.
101 -1,035
-689
160
-922
-142
-324
-98
-180
-662
-150
-447
-316
-135
-131
-50
-682
-71
-73
-215 -1,957 -1,013
292
-215
-65
-24
-72
-391
Addendum:
Uses of funds obtained through new issues of securities sold
abroad by U.S. corporations
Additions to, and refinancing of direct investment (39t)-Short-term claims reported by U.S. residents other than
banks (40t)_
Reduction in corporate liabilities to foreigners (51 1 52 1)
Transfers of funds to U.S. residents (54f) 8- -
2,023
-259
1,283
-S72
-740
-113
296
766
372
-69
-16
-54
-120
-125
—225
—205
-412
-925
—268
-571
-486
439
^148
-384
-146
-220
-192
-201
-ISO
—78
-352
p Preliminary.
f Portion of line.
n.a.—Not available.
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 abroad by U.S. corporations through bank loans and other
credits and also excludes securities issued by subsidiaries incorporated abroad. However,
securities issued by finance subsidiaries incorporated 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.
589
1,192
-S50
195
219
-79
-60
-66
-62
-206
414
-26
-133
274
-20
-217
-37
197
398
-77
-150
(6)
-44
-95
(66)
-H
-52
-23
-ISO
()
(•)
n.a.
n.a.
n.a.
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.
.
T . ,
5. A (-) reflects a decline in foreign deposits and money market paper held in the United
6. Data not shown to prevent disclosure of information concerning individual reporter.
June 1974
official reserve transactions surplus to
$1.0 billion in the first quarter from
almost $2.7 billion in the fourth.
Financing the official reserve
transactions balance
The $1.0 billion official reserve transactions surplus in the first quarter
was reflected in a $0.8 billion reduction
in liquid and other readily marketable
liabilities to foreign official agencies
and in a $0.2 billion increase in U.S.
official reserve assets, mainly an improvement in the U.S. gold tranche
position in the IMF.
SURVEY OF CURRENT BUSINESS
repayments" (table 2, line 36) rather
than
"nonscheduled
repayments"
(table 2, line 37) since the latter entry
records only accelerated dollar collections.) Although these transactions with
India had a substantial impact on the
Special U.S. Government
Transactions
SEVERAL extraordinary U.S. Government grant and capital transactions
that complicated balance of payments
accounting occurred in the fourth
quarter 1973 and first quarter 1974.
Special
Indian
transactions
Table 1 Table 2
8
13
14
26
U.S. Government grants. ..
...
Balance on current account
U.S. Government capital flows:
15
16{
Income on U.S. investments abroad...
Balance on goods and services
30
35
36
Table 1 entries
As published
Excluding
Indian
transactions
(Millions of dollars)
Foreign currencies and other short-term assets
Scheduled repayments
Balance on current account and long-term capital
Chile
An agreement with the Chilean Government concluded on February 6,1974,
also reorganized a sizable part of the
overdue indebtedness owed by Chilean
India
Government and business enterprises
The largest transactions resulted to the U.S. Government. This settlefrom the agreement between the United ment provided refunding for $40 million
States and India signed on February 18, in interest and $75 million in principal
1974. This agreement revised the terms (recorded as receipts, table 2, lines 13
and 36), through the consolidation of
for the disposition of economic assistthese amounts into a new $115 million
ance loans to India that were repayable indebtedness to be repaid by the
in Indian rupees, and for the disposition Chilean Government (recorded as a
of Indian rupees already acquired by U.S. Government long-term capital
the U.S. Government in repayment of outflow, table 2, line 34). The new
loans previously extended to India. indebtedness is to be repaid in installWith the signing of the agreement, the ments over the next 7 years, with
Indian Government paid to the U.S. interest at 6 percent per year on the
Government 17.5 billion rupees (the uncollected balance.
equivalent of $2,117 million principal
and interest), and the United States Peru
On February 19 the U.S. Government
paid the Indian Government 16.6
signed
an agreement with Peru, and
billion rupees (the equivalent of $2,010
accepted
$76 million in a consolidated
million) as a grant to finance developsettlement
of many claims of U.S.
ment projects of the Indian Government over the next 5 years. The net nationals arising from previous takeovers by the Peruvian Government of
increase of almost 1 billion rupees (the
U.S. interests in property. These funds
equivalent of $108 million) in U.S. are included in U.S. Government penholdings was recorded as an increase in sions and other transfers (recorded as
U.S. foreign currency claims. (The receipts, table 2, line 31) in the balance
accelerated collection of Indian rupees of payments. (No entry for changes in
is recorded in the entry for "scheduled the value of the expropriated invest-
usually stable U.S. Government grants
and capital accounts and adversely
affected the balance on current account,
they had no net effect on the balance on
current account and long-term capital;
this is shown in the following table:
Reference line number
11
Highlights and Perspectives
27
17
1,495
1,478
17
2,902
2,885
-2,010
-2,534
-524
-1,992
-28
1,964
1,296
-696
2,065
2,065
-108
2,100 }
ments is recorded in the balance of
payments, but the changes in value are
recorded in the international investment
position of the United States.)
Israel
There were extraordinary transactions with Israel, associated with the
Middle East war that began in October,
in both the fourth and first quarters.
During the first 2 weeks of the conflict,
the U.S. Government authorized shipments of material to Israel costing $825
million, including transportation. This
equipment was ordered by Israel from
the U.S military services under the
Foreign Military Sales Act, utilizing
the provisions for short-term credit for
payment within 120 days of delivery.
Additional orders were placed by Israel
through the first quarter. Moreover,
$500 million in undelivered orders from
Israel had been in the military service
pipeline on October 6, and deliveries
against these earlier orders continued
in the last quarter of 1973, and in the
first quarter of 1974.
Deliveries from new orders placed
after October 6 are estimated at about
$600 million in the fourth quarter of
1973
and $75 million in the first
quarter 1974 (recorded as a credit
entry, table 2, line 3). These deliveries
exceeded the funds previously received
28
SUEVEY OF CUEKENT BUSINESS
from Israel as advance payments and Transactions of U.S. Petrolerecorded in U.S. Government nonum Companies
liquid liabilities associated with miliData on income receipts from U.S.
tary sales contracts to Israel (recorded
as a credit entry, table 2, line 48). direct investment abroad have been
Consequently separate estimates for revised for the period 1966-1973 to
the financing of the extraordinary eliminate overstatements in income
purchases in the fourth and first receipts from some foreign producing
quarters have been entered into the affiliates of U.S. petroleum companies
account for short-term assets of the that compute their earnings on the
U.S. Government (recorded as a debit basis of "posted" prices, which usually
exceed actual market prices for petroentry, table 2, line 35).
leum.
("Posted" prices are used by some
Because the conflict in the Middle
foreign
petroleum-producing affiliates
East created needs exceeding Israel's
for
the
purpose
of computing tax liacapacity to make cash and credit
bilities
and
royalty
payments to the
purchases, the President requested the
governments
of
host
countries; in
Congress to provide Israel with grant
some
cases
the
affiliates
are legally
military assistance. Legislation authorrequired
to
use
these
prices
in keeping
izing and appropriating over $2 billion
their
books.)
If
these
income
receipts
for long-term foreign military sales
(and
earnings)
from
a
producing
affiliate
credits and other emergency military
are
fully
offset
by
a
corresponsing
assistance—if necessary—was enacted
in December and January. Under this negative entry, or "trading loss," in
legislation, the President determined the earnings reported by another foreign
in April 1974 that $1 billion of these affiliate of the same U.S. company, no
funds would be used to release Israel net overstatement occurs in total infrom its contractual liabilities to pay come receipts. If, however, any of the
for the defense articles and services trading loss is taken up on the domestic
purchased under the Foreign Military (U.S.) books of the U.S. parent comSales Act. Funds from the appropria- pany, an overstatement in total income
tion for the emergency security assist- receipts from U.S. direct investment
ance will be disbursed to pay the U.S. results.
military agencies for goods and services
Because the difference between
for Israel. These disbursements will be posted and market prices has widened
recorded as grants (as a debit entry to considerably in recent years, BEA,
table 2, line 30), and will be offset by in January 1974, conducted a survey to
a reduction of the short-term assets (as determine the effect of the differences
a credit entry to table 2, line 35), until on direct investment reported income
the latter have been liquidated.
receipts. The survey showed that re-
June 1974
ported income receipts were overstated
and that the magnitude of the overstatement had become sizable in recent
years, rising from $0.3 billion in 1966
to $1.1 billion in 1972 and $1.7 billion
in 1973. Accordingly, the direct investment income receipts series was revised
beginning in 1966.
Income receipts as reported to BEA
in the fourth quarter 1973 and the first
quarter 1974 include income accruing
to a petroleum-producing country that
made a participation payment to a
major U.S.-incorporated petroleum
company in the third quarter 1973.
That participation payment was treated
by BEA as a foreign direct investment
in the United States. For balance of
payments purposes, BEA has made
imputations to income payments for
the estimated income assumed due to
the foreigner (debit entry, table 2, line
25) and an equal amount for funds,
assumed owed on the direct investment
intercompany account by the U.S.
company (credit entry, table 2, line 49).
(This treatment of both participation
payments and income payments will
be reviewed when arrangements increasing the foreign country's participation, retroactive to January 1,
1974, are finalized.)
Developments in 1973 by Major
Area
Developments in the U.S. balance of
payments with Western Europe, Japan,
Canada, and all other countries corn-
Table D.—•'Summary of U.S. International Transactions
[Millions of dollars]
Line
1
2
3
4
5
6
7
8
9
10
Lines in table 9 in which transactions are included are indicated in ( )
Merchandise trade balance (2, 16)
Services, net (3-13, 17-27)
Balance on goods and services
Remittances, pensions and other transfers (31,32)
Balance on goods, services, and remittances .
U.S. Government grants (excluding military grants of goods and services) (30)
Balance on current account
U.S. Government capital flows, net, and nonliquid liabilities to other than foreign official
reserve agencies (33, 48)
Long-term private capital flows, net (39-41, 44, 49-51, 53)
Balance on current account and long-term capital
1. Includes United Kingdom, EEC (9) and other Western Europe.
NOTE.—Details may not add to totals because of rounding.
Western Europe l
Japan
Other
Canada
1972
1973
1972
1973
1972
1973
-667
-4, 110
1,792
-4,863
-4,113
-665
-1,294
-278
-1,972
1,668
-1,599
1,980
-4,776
-3,071
-4,779
-1,571
-305
-319
-367
-43
-43
-122
-5,095
-3,438
-4,822
-1,614
-426
59
79
1
2
-5,036
-3,360
-4,821
-1,612
-146
3,386
148
886
32
350
541
1,287
-1,795
-2,326
-4,439
217
380
-118
1972
-234
4,082
1973
1,724
7,079
3,851
8,80"
-1,140
-1,415
2,709
7,390
-2,233
-2,014
262
476
5,377
-16
-1,046
-78
-776
-1,200
-2,789
-2,150
-1,271
-1,488
-591
-3,513
1,956
-426
262
June 1974
bined were similar in the full year
1973 (see tables D and 10). The merchandise trade balance and the balance
on current account improved with each
area; the balance on current account
and long-term capital improved except
with Western Europe.
Western Europe
SUKVEY OF CUERENT BUSINESS
ultimate foreign transactor; this is
particularly true in the merchandise
trade accounts, because goods may be
transshipped from the country of
original consignment, and in capital
transactions, because the United Kingdom, Switzerland, and France often act
as intermediaries between the United
States and other countries.
29
crease in U.S. direct investment in
Canada.
These shifts resulted in a $0.9 billion
reduction in the deficit on current account and long-term capital to $0.6
billion in 1973.
Other countries
Although the value of petroleum imports from the Middle East, Africa, and
Latin America surged late in 1973, the
merchandise trade balance with all
other countries combined improved substantially—from a deficit of $0.2 billion
to a surplus of $1.7 billion. Nearly half
of the improvement was accounted for
by a rise in the merchandise trade surplus with Eastern Europe, largely reflecting a sharp increase in agricultural
exports.
Military transactions shifted from
net payments of $0.9 billion in 1972 to
net receipts of $0.5 billion in 1973,
mostly because of large sales to Israel
in the fourth quarter of 1973. Net investment income receipts rose substantially, from $4.8 billion in 1972 to nearly
$6.2 billion in 1973. This increase
stemmed mainly from the earnings of
U.S. petroleum companies.
Largely as a result of the above
factors, the current-account balance
increased $4.9 billion to a surplus of
$5.4 billion in 1973.
Net outflows of long-term capital
decreased from $4.0 billion to $3.4
billion because of a sharp increase in
foreign direct investment in the United
States (bolstered by the purchase of a
portion of a U.S.-incorporated petroleum company by a foreign petroleumproducing country), a decrease in U.S.
direct investment outflows, and a
decrease in U.S. bank claims on
foreigners. These changes more than
offset a $1.0 billion increase in the net
outflow of U.S. Government capital.
The balance on current account and
long-term capital shifted from a $3.5
billion deficit in 1972 to a $2.0 billion
surplus in 1973.
U.S. transactions with Western Eu- Japan
rope in goods, services, and unilateral
The current-account deficit with
transfers resulted in a deficit of $3.4
billion on the balance on current ac- Japan was reduced $3.2 billion to $1.6
count in 1973, $1.7 billion less than in billion. A $2.8 billion reduction in the
1972. The merchandise trade balance merchandise trade deficit and an inimproved $2.5 billion to a $1.8 billion crease of $0.2 billion in net travel and
surplus. However, net services trans- transportation receipts accounted for
actions worsened, as net payments of most of the improvement.
investment income increased $0.8 bil- Net inflows of long-term capital inlion to $2.0 billion. Increased income creased $1.4 billion to $1.8 billion. This
receipts from U.S. direct investment shift was largely due to a $0.7 billion
and other private assets were more than improvement in net securities transoffset by increases in payments on actions, and a $0.5 billion increase in
U.S. liabilities to European official net inflows of U.S. Government capital,
reserve agencies, largely in the Euro- mainly receipts from the sale of Exportpean Economic Community, and to Import Bank loans and an advance
private foreigners. The increases payment for the enrichment of uranium
stemmed from a growth in U.S. liabil- fuels. Also, U.S. direct investment in
ities and from higher U.S. interest Japan decreased $0.2 billion, and Japarates. Net payments on military, travel, nese direct investment in the United
and transportation transactions re- States increased $0.3 billion.
mained about the same as in 1972.
As a result of these improvements,
The improvement in the balance on the balance on current account and
current account was more than offset long-term capital shifted to a $0.2
by a $2.2 billion reduction in the net billion surplus in 1973, from a $4.4
inflow of long-term capital to $1.0 billion deficit in 1972. This $4.6 billion
billion. A $1.0 billion increase in shift accounted for over two-fifths of
Western European direct investment the overall improvement in the U.S.
in the United States was more than balance on current account and longoffset by a $1.8 billion rise in U.S. term capital.
direct investment in Western Europe.
In addition to these changes, the re- Canada
duction in net long-term capital inflows
The current-account balance with
was accounted for by a decline in Canada improved to a $0.3 billion
Western European purchases of U.S. surplus from a $0.4 billion deficit in
securities, and a shift from net sales to 1972. The merchandise trade deficit
net purchases of Western European declined $0.4 billion to $1.6 billion, and
securities by U.S. residents. Thus, the the net services transactions surplus
deficit on current account and long- rose $0.3 billion to $2.0 billion. (See
term capital transactions increased to also Technical Notes—U.S.-Canadian
$2.3 billion in 1973, from $1.8 billion in reconciliation of current account.)
1972. This unfavorable shift contrasted
Technical Notes
Net long-term capital outflows dewith the improvement in this balance creased from $1.1 billion in 1972 to $0.9
R evisions
with the other major areas.
billion in 1973. An improvement in net
As customary each June, the U.S.
Attribution of certain transactions to securities transactions and an increase
countries within the area (see tables 9 in Canadian direct investment in the balance of payments statistics have
and 10) may not necessarily reflect the United States more than offset an in(Continued on page 59)
550-325 O - 74 - 4
SURVEY OF CUKEENT BUSINESS
30
June 1974
Table 1.—U.S. Balance of
[Millions of dollars,
Line
Reference
lines
(table 2)
(Credits+; debits-)
1
2
3
Merchandise trade balance 1
Exports
Imports
4
5
Military transactions, net
Travel and transportation, net
6
Investment income, net 2
U S. direct investments abroad 2
Other U.S. investments abroad
Foreign investments in the United States 2
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
Other services, net 2
.......
Balance on goods and serivces '
3,785
5,330
3,509
-5, 055
5,021
6,385
3,444
-4,809
4,526
6,925
3,494
-5, 893
5,291
9,415
4,569
-8, 693
7, 8, 9, 10,
21, 22, 23, 24
860
1,007
1,088
1,426
1,536
1,710
1,766
2,034
2,388
2,781
3,110
3,540
5,088
5,941
8,542
7,140
4,868
4,657
1,980
1,344
2,932
-170
-6,009
4,543
-712
-825
-867
-1,045
-1,015
-1,309
-1,234
-1,329
-1, 522
-1,604
-1,624
-1.943
4,377
5,116
7,676
6,095
3,853
3,349
746
16
1,410
-1,774
-7,634
2.600
-1, 916
-1, 917
-1,888
-1, 808
-1, 910
-1, 805
-1, 709
-1,649
-1, 734
-2,043
-2, 173
-1, 933
2,460
3,199
5,788
4,287
1,943
1,544
-962
-1,633
-324
-3,817
-9,807
667
34,35,36
-1, 766
-1, 988
-1,804
-1,826
-1, 972
-2,430
-2,543
-2, 113
-1,836
-2, 111
-1, 705
-2,938
37
681
326
123
221
428
6
269
-87
244
227
137
289
48
203
-2,606
-1,654
132
-969
134
-121
-129
511
-3,376
-1,976
-5
-1,105
282
-722
149
328
-4, 511
-2,328
-5
-677
-84
-893
-523
66
-4, 577
-3, 468
57
-759
-357
9
-60
65
-2,575
-3, 661
86
-482
909
505
68
88
-2,932
-3, 137
258
-1, 266
1,016
393
-196
110
1,191
-3,209
319
-1,239
4,414
410
495
267
-70
-3, 271
832
-1,494
3,130
457
277
-433
-1,429
-4, 410
1,030
-942
2,190
178
526
-478
-4,381
-4,943
-115
-966
2,289
-862
216
238
-98
-3, 517
383
-654
4,507
-1, 158
341
1,111
127
-4, 872
2,537
-807
4,051
-581
-200
-1,028
-1,328
-75
-1,829
-2, 110
-3,723
-1,935
-3,637
-3,778 -10,559 -11,235
-744
6-968
6-747
-198
-1,643
-1,333
-422
-154
-200
-103
-104
-220
-180
231
-44
-485
-640
-658
-73
-482
-1,023
-361
-2,347
-1,802
-530
-1,541
-1,457
-305
-4,276
-3,940
-1,240
-23
113
149
296
759
91
902
-15
221
904
867
717
710
-9,776
..
31,32
Remittances, pensions and other transfers
Balance on goods, services and remittances
U.S. Government grants (excluding military
grants of goods and services)
30
- .- -
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 capitalflows,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. . .
39
49
40
50
41,53
44,51
Balance on current account and long-term capital 6
Errors and omissions, net
64
49
50
Liquid private capital flows, net
Liquid claims
Reported by U S banks
Reported by U.S. nonbanking concerns
.
Liquid liabilities
To foreign commercial banks
To international and regional organizations _ .
To other foreigners
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
U.S. official reserve assets, net
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
SDR
- -
55
-7,796
3,502
-1,247
-742
-505
4,749
3,716
104
929
2,492
-1,944
-1, 103
-841
4,436
2,978
376
1,082
-9,839 -29,753 -10,354
-5,304
27, 615
9,734
4,452
-551
399
1,118
535
341
189
-475
-1, 187
2,477
2,348
32
209
64
94
-1,805
-2, 151
-4,683
-1,611
-6,081
634
6-35
215
-138
212
141
«779
6159
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
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
8,820
162
-209
371
8,658
9,166
-63
-445
-5,988
252
-99
351
-6,240
-6, 508
181
87
-2,650
-1,934
-1,534
-1,290
219
-3,418
1,641
2,739
918
1,673
1,075
-18
-1, 595
2, 020
-3, 101
-554
7,637
9
149
-38
793
894
534
-836
-810
139
123
15
452
1,806
-162
-880
-418
-1
56
-439
-458
-7,788
-1,097
-566
-531
-6, 691
-6,908
682
-465
57
199
58
1,533
377
171
1,222
568
52
14,28
1,537
1,562
1,340
1,636
2,066
2,443
2,868
2,922
2,513
3,204
4,189
2,772
1,198
1,507
1,431
1,542
1,739
1,598
2,175
2,604
2,948
3,157
4,521
n.a.
434
498
548
n.a.
-4,466 -23, 779 -15, 813
-9, 740
54,55,
56, 57, 58, 63
-125
214
236
327
358
339
440
488
431
-2,865
-2,554
-3,088
-1, 421
-2, 165
-4, 890
-2, 169
-5, 919
Balance on current account
Balance on current account and long-term capital «_
Net liquidity balance
NOTE.—Data in all balance of payments tables have been revised. See "Technical
Notes" in text of article.
-2,776
-494
-2,478
6
Official reserve transactions balance
-1,790
-3,851 -21,965 -13,856
-978
«214
43
46
54
499
-2, 696
-1, 179
6-2,864 6-2,713
Net liquidity balance
-522
-645
-376
Not seasonally adjusted
51
52
53
54
55
56
1973
3,811
5,074
3,200
-4,463
-112
48
1972
4,270
4,489
2,714
-2,933
52
47
1971
4,127
4,133
2,356
-2, 361
63
46
1970
3,782
3,707
2,218
-2, 142
Allocations of special drawing rights (SDR) 4
45
1969
4,169
3,963
1,936
-1,730
31
43
44
1968
3,936
3,674
1,718
-1, 456
42
45
42
1967
3,326
3,129
1,521
-1, 324
e-657
6-358
6-187
34
35
36
37
38
39
40
41
1966
3,311
3,044
1,377
-1,110
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
32
1965
11
12,13
25, 26, 27
27
28
29
30
33
1964
1963
4,521
5,224
6,801
3,817
4,951
3,800
635
607
2,159 -2, 722 -6,986
623
2 20, 781 22, 272 25,501 26,461 29,310 30,666 33, 626 36, 414
41,947
42,754
70, 252
48,768
16 -16, 260 -17, 048 -18, 700 -21, 510 -25, 493 -26, 866 -32, 991 -35, 807 -39, 788 -45,476 -55, 754 -69, 629
3,17 -2,448 -2,304 -2, 133 -2, 122 -2, 935 -3, 228 -3,143 -3,344 -3,377 -2,908 -3,604 -2,201
4, 5, 6, -1, 155 -1,312 -1, 149 -1,284 -1, 332 -1, 751 -1,548 -1, 763 -2,023 -2,341 -3,055 -2, 710
18, 19, 20
.
Balance on current account *
1962
SURVEY OF CURRENT BUSINESS
June 1974
31
Payments Summary—-Continued
seasonally adjusted]
1962
II
I
1963
III
I
IV
II
1965
1964
III
I
IV
II
III
IV
I
Line
II
III
IV
1,111
5,077
-3,966
1,256
5,336
-4,080
1,215
5,331
-4, 116
939
5,037
-4,098
999
5,063
-4,064
1,373
5,599
-4,226
1,299
5,671
-4,372
1,553
5,939
-4,386
1,826
6,242
-4,416
1,601
6,199
-4, 598
1,667
6,423
-4,756
1,707
6,637
-4,930
999
5,687
4,688
1,454
6,938
-5,484
1,296
6,863
-5, 567
-660
-250
-574
-283
-607
-281
-606
-340
-576
-339
-553
-294
-599
-341
-577
-338
-540
-255
-586
-298
-507
-300
-499
-296
-469
-380
-531
-311
728
678
321
-271
815
736
356
-277
803
736
348
-281
962
894
351
-283
845
798
359
-312
792
743
370
-321
819
760
393
-334
870
828
399
-357
1,005
933
428
-356
972
901
430
-359
1,024
920
461
-357
935
919
400
-384
1,116
1,020
494
-398
1,132
1,066
503
-437
202
229
217
211
251
244
236
277
249
286
273
280
323
339
1,131
1,443
1,347
1,166
1,180
1,562
1,414
1,785
2,285
1,975
2,157
2,127
1,589
2,083
1,909
-182
-176
-175
-178
-216
-199
-205
-205
-209
-210
-221
-228
-231
-309
-255
1,172
988
964
1,363
1,936
1,899
1,358
-461
-482
-411
949
1,267
1,209
1,580
2,076
1,765
-441
-457
-503
-422
-472
-497
-527
-445
434
826
715
485
542
891
712
1,053
1,631
1,265
1,475
1,417
947
-407
-327
-465
-340
-419
-445
-599
25
52
33
31
7
166
-782
-530
-87
53
103
-474
153
136
-757
-462
17
20
-42
-258
-32
37
-917
-613
29
-206
14
-84
-57
32
-1,258
-664
-27
2
-30
-240
-299
-515
-439
-468
-451
-508
-688
1
58
476
145
26
34
18
-459
-272
41
-196
145
-119
-58
-21
-728
-429
77
-308
7
-37
-38
89
-630
-498
6
-87
-23
9
-37
116
-789
-455
8
-378
6
26
4
31
-1, 166
-620
-5
-522
14
20
-53
136
-977
-492
47
-536
114
-164
54
241
178
-451
-334
40
-100
52
-104
-5
-500
1,202
6,973
-5, 771
1
2
3
-534
-278
-588
-315
4
5
1,044
968
501
-425
876
908
440
-472
6
7
8
9
384
10
381
1,774
1,654
1,559
11
-249
12
1,310
13
-461
-459
14
1,297
1,193
851
15
-384
-542
-436
-464
16
10
6
182
23
17
122
-1, 578
-588
-24
-494
-26
-311
-135
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
18
19
20
21
22
23
24
25
-169
-477
-413
-304
182
-494
-1,075
-604
353
-3
722
-1
-165
-631
-976
-176
-509
2S
e-499
6-352
6-125
6154
6150
653
6-258
6-84
6-152
6-54
6-37
637
-69
6-312
6-314
-63
6-198
6-196
-19
6-374
6-252
-47
-563
-475
-93
-262
-233
-48
-437
-305
-197
-380
-320
-84
-197
-174
-18
81
29
-16
-6
9
-54
-32
-64
-15
27
28
29
-22
-49
13
-54
-30
65
17
-75
5
19
65
24
-5
68
39
47
30
-96
-271
-419
-392
-127
-106
-355
170
-299
-155
-260
-264
87
-43
-477
-61
32
6-1,008
6-421
6-495
6-940
6-1,286
6-1,022
6-200
6-207
-140
-418
-862
-1,275
-1,086
-659
-602
33
« 599
663
6-37
6-476
636
625
627
6 -82
6 -65
6308
675
6-176
611
6 -17
-95
251
190
-49
110
693
6123
658
65
-30
-103
-13
86
6303
698
6 -36
134
205
200
-108
113
-68
-82
4
-86
14
44
-86
56
-76
-329
-268
-61
253
231
-24
46
549
117
181
-64
432
458
-141
115
757
-98
-108
10
855
721
8
126
399
406
108
298
-7
-45
-66
104
379
386
199
187
-7
-63
-26
82
641
103
48
55
538
523
-57
72
-231
162
170
-8
-393
-299
-142
48
34
35
36
37
38
39
40
41
96
-208
-494
-313
-518
-687
248
-18
-833
42
296
161
34
583
-126
26
44
15
64
-63
-14
194
-51
303
70
6-119
615
31
681
676
65
518
263
215
40
-409
-18
6 -2
6 -35
100
-172
-4
276
-358
523
6114
109
37
108
-36
825
89
194
183
-65
76
-971
-913
-978
-947
-107
90
324
921
883
-16
-512
-266
-107
-139
6 -81
-113
9
-1
427
-164
881
200
25
-68
-104
389
32
123
227
22
-5
22
-151
-131
-279
1
386
43
-21
-29
-16
28
44
-8
-8
-8
148
45
842
68
41
271
46
388
626
218
306
447
678
194
244
308
524
214
294
372
667
274
324
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.
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.
n.a.
n.a.
n.a.
n.a.
49
-927
-458
-459
-1,022
-1, 172
-1,198
-77
-109
-222
-747
-745
-1, 373
-680
255
-556
-440
50
2,117
1,897
1,365
-75
-305
-554
1,323
1,098
670
-831
-1,388
-676
2,676
2,451
1,998
-97
-1, 412
-783
1,767
1,547
1,107
-718
-499
40
2,228
1,910
1,393
-275
-115
69
1,001
741
321
-875
-1, 138
-278
2,143
1,897
1,466
38
-725
-1, 121
51
52
53
54
55
56
Not seasonally adjusted
1,205
1,034
496
-291
-672
111
1, 567
1,382
918
-391
-398
-412
690
511
81
-324
-845
-1,266
1,625
1,449
965
-23
-950
-1,083
1,360
1,154
707
-817
-764
-341
1,704
1,496
996
-701
-997
-996
607
398
-68
-298
-589
-453
2,270
2,068
1,565
489
-364
-145
2,427
2,230
1,756
928
409
479
SURVEY OF CURRENT BUSINESS
32
June 1974
Table 1.—U.S. Balance of
imimons 01 cumars,
1966
Line
1
2
3
Merchandise trade balance l.
Exports
Imports
4
5
Military transactions, net
Travel and transportation, net _
6
7
8
9
Investment income, net 2 _.
._
U S direct investments abroad 2
Other U S investments abroad
Foreign investments in the United Stat es 2
10
11
.
-
Balance on goods, services and re mitt ances
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
U.S. Government
capital flows excluding nonscheduled repayments, net.8
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 di rect 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
Balance on current account and long-term capital 6
_ ._
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 _
32
Errors and omissions, net .. _ . -
33
34
35
36
37
38
39
40
41
42
Net liquidity balance
Liquid private capital flows net
Liquid claims
Reported by U.S. banks . . .
Reported by U.S nonbanking concerns
Liquid liabilities
_
To foreign commercial banks
_
To international and regional organizations
To other foreigners
.
II
III
IV
-836
-504
-866
-511
-771
-372
-801
-397
-769
-357
-755
-424
-817
-369
11
12,13
25, 26, 27
941
890
533
-482
959
915
543
-499
917
926
558
-567
965
976
583
-594
927
930
582
-585
901
905
581
-585
1,137
1,128
583
-574
1,162
1,170
610
-618
977
986
665
-674
1,151
1,194
683
-726
1,106
1,141
721
-756
1,035
1,168
646
-779
7,8,9,10,
21,22,23,24
391
383
374
386
414
431
436
431
449
460
465
392
1,478
1,294
987
1,108
1,240
1,230
1,289
899
349
739
714
179
-236
-245
-291
-244
-270
-395
-362
-280
-285
-285
-355
-311
1,242
1,049
696
864
970
835
927
619
64
454
359
-132
30
-588
-484
-419
-419
-455
-461
-490
-399
-362
-423
-434
-489
654
565
277
445
515
374
437
220
-298
31
-75
—621
34,35,36
—324
—511
—565
—572
-643
—543
—557
—685
—748
—635
—623
-537
37
48
3
-100
7
22
226
81
192
62
6
-8
(*)
-211
42
-18
3
170
55
1
169
-43
39
49
40
50
41,53
44,51
-719
-728
52
-357
173
129
12
-317
-934
38
-60
520
158
-39
42
45
52
-486
-85
-42
-82
39
-234
8
-13
-45
66
-778
76
-30
-28
134
-103
-65
209
-116
-436
-674
-291
-493
-694
-820
287
8
68
-60
279
208
-38
109
220
65
37
28
155
444
-355
66
995
-2
47
-49
997
930
-24
91
868
-85
-16
-69
953
1,115
-108
-54
-878
17
-41
58
-895
-939
-36
80
324
129
53
76
195
261
-78
12
-387
-71
502
174 -1,698
-585
-117
48
-260
282
-688
88
-529
375
57
32
-19
16
-14
19
-13
323
123
240
619
58
424
68
82
-6
1,027
-419
-375
-181
904
-137
43
46
54
Official reserve transactions balance
U S. official reserve assets, net
50
I
IV
-756
-365
-.
46
49
III
-771
-334
64
43
44
45
48
II
w
(*)
247
-797
-741
-917 -1,082
-113
110
-11
-54
107
109
104
114
33
62
-502
-707
64
-259
133
210
57
-345
-518
70
-237
329
199
-188
-839 -1,245
-964
-947
12
112
-361
-4C9
34
520
-32
16
-82
17
548
-456
251
-360
855
70
188
29
431
-843 -1,033
23
5
-259
-105
1,124
1,122
143
74
31
178
183
-876
41
-515
1,312
123
98
-614
-103
-135
-25
57
-570
-134
-131
-97
94
-267
-206
-315
19
90
-961 -1,921
-145
-37
3
-202
-172
-126
132
183
-474
-116
-63
-106
53
<*)
371
270
-167
268
-613
-182
-297
-112
227
-849
157
46
-100
211
32
-183
-356
499
134
-909 -1,025 -1,926
-773
15
-296
-558
792
-281
25
-306
1,073
891
-45
227
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 -1,134
-305
2,006
391
-452
-955 -2,638
116
150
-350
131
843
137
399
548
«
63
-
Financed by changes in:
Liquid liabilities to foreign official agencies
Other readily marketable liabilities to foreign official agencies 7 _
Nonliquid liabilities to foreign official reserve agencies reported
b y U.S. Government
_ . _
_ -
47
I
-772
-323
Balance on current account *
Allocations of special drawing rights (SDR) 4 ___
IV
-711
-338
31,32
U.S. Government grants (excluding military grants of goods
and services)
31
III
-681
-336
Balance on goods *nd services 3
13
II
1968
3,17
4, 5, 6, 18,
19,20
_ __
Other services net 2
Remittances pensions and other transfers
I
1967
862
1,163
791
1,001
1,093
1,020
1,238
449
121
322
254
-62
2
7,171
7,408
7,538
7,193
7,663
7,688
7,714
7,944
7,601
8,898
8,394
8,390
16 -6,030 -6, 170 -6,617 -6,676 -6,668 -6, 476 -6, 570 -7, 152 -7,823 -8,136 -8,576 -8, 456
-
12
14
Reference
lines
(table 2)
(Credits +; debits -)
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 SDR
55
56
14,28
54,55,56,
57,58,63
23
348
304
421
596
81
1,027
-72
-122
50
1,099
1,059
-55
95
246
-196
1,002
190
-571 -1,076
282
784
359
641
661
725
506
552
589
658
693
927
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.
-780 -1,097 -2, 207
-843
-310
-401
-616
639
370
-23
-448
-498
92
-378
962
-738
665
194 -1,128
-176 -1,706
-966
-206
72
1,550
757
449
-5
394
60
-72
n.a.
n.a.
n.a.
n.a.
n.a.
-666
-226
-495
-779
-803
Not Seasonally Adjusted
51
52
53
54
55
56
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
1,642
1,420
802
-229
-76
340
» 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. Fees and royalties from U.S. direct investments abroad or from foreign direct investments in the United States are excluded from investment income and included in "other
services".
3. Equal to net exports of goods and services in national income and product accounts of
the United States.
1,432
151
1,176
-144
645
-520
-432 -1,366
-866
-410
-392
403
1,643
1,398
1,402
1,143
1,016
658
-84
-622
-798
-525
-132 -1,279
1,475
402
1,383
1,198
975
33
834
-414
467
-206 -1, 575 -1,320
-822 -1,367 -1,968
-710
-20 -1,409
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.
6. Coverage of liquid banking claims for 1962-63 and of liquid nonbanking claims for 1962
is limited to foreign currency deposits only; other liquid items are not available separately
and ate included with nonliquid claims.
SURVEY OF CURRENT BUSINESS
June 1974
33
Payments Summary
seasonally adjusted]
1969
I
II
1971
1970
III
IV
I
II
III
I
IV
II
1972
1974
IP
I
IV
III
1973
II
III
I
IV
II
III
IV
Change
1973
IV- Line
1974
I
503
742
487
727
187
108
-884
-393 -1,553 -1,827 -1, 795 -1,596 -1,768
-962
-87
310
602
-103
-360
1,343
101 -1,242
7,486 9,485 9,581 9,862 10, 230 10, 558 10, 703 10, 456 10, 857 10, 815 11, 519 9,563 11,655 11, 534 12, 357 13, 222 15, 228 16, 670 18, 143 20,211 22, 299 2,088
-7,589 -9,572 -9, 271 -9, 375 -9, 727-9, 831 -9, 961 -10,269 -10, 749 -11, 699 -11,912 -11,116 -13,482 -13,329 -13, 953 -14, 990 -16, 190 -17, 030 -17,541 -18,868 -22, 198 -3, 330
-791
-456
-859
-393
-780
-421
-915
-494
-910
-424
-824
-520
-864
-576
-779
-503
-676
-526
-699
-603
-714
-561
-817
-651
-896
-807
-961
-737
-857
-741
8 -890
-770
-833
-686
8-763
-781
-547
-613
1
2
3
-466
-529
-408
101
4
5
855
942
889 1,006
943
981
926
1,134
1,451
1,054
1,008
1,212
1,427
1,276
1,020
1,018
1,447
1,208
1,257
1,378
2,901
1,212 1,214 1,326 1,322 1,437 1,256 1,320
1,404
1,714
1,317
1,419
1,509
1,848
1,607
1,796
2,013
2,194
2,210
2,323 2,688 4,446
782
854
890
891
879
851
861
852
743
820
845
902
887
1,292
883
881
1,098
1,179
828
1,000
1,495
-901 -1,054 -1,220 -1,287 -1,321 -1, 292-1,256 -1,187 -1, 131 -1, 108 -1,263 -1, 308 -1,391 -1,417 -1,467 -1,618 -1, 747 -2, 100 -2,245 -2,602 -3,040
1,523
1,758
203
-438
6
7
8
9
459
526
518
527
571
579
609
628
674
695
163
129
553
494
746
817
854
514
714
-40
17
-300
-350
-336
-344
-361
-395
-338
-378
-377
-395
-419
-137
-221
217
150
385
422
466
136
337
-347
-520
-379
-403
-417
-401
-444
-471
-484
-741
-162
-253
-32
-450
-666
-549
-448 -487
44
-75
34
98
-154
-15
547 -913
-930 -1,004
164
246
-365 -499
365
1,388
40
117
21
91
-393
-903
152
-506
396
249
219
-418 -2,188 -1,273
-5
-105 -326
-94 -318
-97
-21
-88
72
80
113
-83
-950
-530
-686
-1,473 -3,044 -1,964
2,709 3,958
-241
130
-17
-119
-122
147
2,950 3,828
3,062 3,894
-88
81
-24 -147
1,578
131
-44
175
1,447
1,581
10
-144
1,236
914
-386
-1,226
-43
-240
-195
1,587
-390
81
-180
-48
-299
-11
258
21
-464
88
-18
114
-2G6
734
677
747
753
788
822
841
815
984
901
895
-6
10
-860 -1,763 -1,722 -1,194 -1,330
-193
119
1,683
2,934
2,902
-32
11
-413
-439
-404
-411
-412
-717
-396
321
12
-435
-402 -1,273 -2, 167 -2, 118 -1,579 -1,769
-597
-292
1,271
2,217
2,506
289
13
-439
-486
-550
-457
-357
-645
-485
-447 9-2, 534 -2,087
14
-954
-937
786
-568
-404
-586
-396
-558
-385
-573
22
-335
-102
-921
-952 -1,841 -2,753 -2,676 -2,152 -2,226
-424
-460
-577
-669
-460
-405
-301
-259
-532
-612
-699
-565
2
52
40
-261
4
-69
102
-9
72
-211
50
-189
88
-96
17
137
7
155
26
42
111
217
174
485
726
319
-765 -1,815
224
351
51
-79
1,718
1,769
-110
-473
124
50
-315
-973
588
-124
489
-239
-56
688 -932 -240
-435 -1,279 -1,233
491
104
270
-125 -210
93
304
374
981
21
68
51
354
-54 -259
-205
-53
-895 -1,691 -1,998
-886 -1,014 -1,255 -1,343 -1,450
245
124
1
190
-425
-488
-305
-337
-356
-377
720
792
559
196
626
34
55
-137
-214
-318
170
261
170
46
-126
234 -1,381
-204 -247
-149 -227
-36 -120
100
-19
-553 -1,069 -1,639 -3,188 -3,549 -2, 184 -3,898 -2,383 -2,908 -2,044 -1,006 -1,158
42
-221
-517
-492
-822
-516
-423
301
-420
-999 -1,663 -1, 457
-105
-495
-841
-129
-227
-605
235
-275
-440
-977 -1,644 -1,399
-64
-149
-123
-186
-149
-72
-28
24
-57
-101
-59
-200
211
423
-79
-265
168
161
45
42
-44
1
38
178
-775
-56
-196
-28
168
217
217
217
216
4
-222
-392
152
391 -1,407
-836
-686
361
180
179
201
-836
-895 -1,121
184
-215
71
-437
908
1,059
11
-193
126
-13S
179
179
178
-832 -2, 169 -5,111 -1,664
816
398
-386
-314 -1,318
158
216
-346
209
718
961
-263
-433
144
280
178
177
-442 -1,294
-647 -2,434 -1,749
-452
76
-390
22
-155
-301
-235
54
-151
-723 -1,982 -1,359
-775 -1,761 -1,393
198
55
149
-146
-21
-370
180
-599
-453
-146
779
701
Of
53
966 -2,917 -1,972 -1,770 -3, 180 -5,766 -6,317 -11,737 -5,934 -3, 147
-667
-208
3,073
-154
667
-235
1,431
-233
-125
63
-266
735
-12
77
-8
-686
-154
264
805
584
824
682
5,293
-201
5,826
-160
9
—28 -1,798
4
206
15
2,362
16
(*)
204
(*)
55
(*)
-149
17
18
1,529 -1, 406
-710 -1,374
712
886
-525
-209
670
1,173
-459
227
162
-430
742
-220
1,127
-647
696
-52
-162
2,148
1,154
415
-122
26
407
268
19
20
21
22
23
24
25
1,917
2,065 2,563
-498
97 -1,253 -3, 224-1,971
222 -1,119 -2, 791 -1, 672
-664
-756
-92
-460
335
323 -207
530
26
27
28
29
30
177
31
-870 -4,085
904
-387
792
290
-502
32
-959
-869
90
33
-3, 441
-1,853
-1,171
-682
-1, 588
-1,673
11
74
1,997
923
996
-73
1,074
723
31
320
316
-521
-456
-65
837
699
-50
188
3,620 1,913 -1,707
-493 -2, 660 -2, 167
-472 -2, 248 -1,776
-21
-412 -391
4,113
4,573
460
3,229
4,589 1,360
384
-593 -977
500
577
77
34
35
36
37
38
39
40
41
-872 -4,722 -1,611 -10,195
286
1,943
2,661
1,044 -1,617
42
-555
-277
43
44
1,474
156
301
-145
1,318
1,082
-70
306
5,772
-17
-8
10, 725
-173
c
366
280
-2
659
1,194
-187
429
-231
2,217
221
1,770
-608 -1,066 91,296
-922 -2, 808 -5, 670 -9,303 -4, 185 -3,327 -2, 346 -4,445 -3, 736 -6,754 -1,711 -1, 627
575 -1, 510 -1, 136 -1,084 -2, 258 -2, 958
285 -151
-4
122
142
-331
150 -118
-40
-132
-29
-91
135
36
-33
171
213
-199
433 -1,795 -985 -1,080 -2,380 -2, 627
629 -1, 786 -1,044 -1,014 -2,664 -2, 979
142 -125
-66
83
81
280
184 -149
72
-130 -151
203
2,467
-188
-58
-630
1,078
27
-277
-586
-422
-164
309
156
-32
185
4,665
34
2,125
-218
-168
-50
2,343
1,777
181
385
-729 -1,489 -2, 145
11
-354
259
1,772
117
8,816
1,202
78
-167
-43
167
-452
-147
-2
145
45
-55
-111
220
17
-13
-15
-210
-195
46
1,590
77
578
881
629
833
551
694
659
609
786
789
677
952
1,141
923
1,188
936
693
833
758
487
391
-96
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.
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.
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
49
-1,714 -2,914 -1,833
n.a.
533 -1,339 -1, 204 -907 -1,016 -3,319 -5,773 -9,934 -4,754 -4,104 -2, 368 -5, 208 -4, 131 -8,607
-788
n.a.
1,106
-1,452 -3,529 -2, 077
50
Not Seasonally Adjusted
355 -650
561
-8 -992
277
-99 -572 -1,327
-183 -2,398 -2,540
-1,017 -3,480 -2,611
1,712 1,209 -1,021
1,079 1,115 1,085 -456
1,187
66
1,253
39 -1,528
678 -854
81b
-365 -1,961
774
-349
738
901
236 -1,255
435
364
364
330
-890 -2, 465 -898
1,484 -1,431 -1, 149 -1,754
556 -1, 565 -3, 682 -4, 972 -340
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
7. Includes changes in npnliquid 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.
8. Includes return import into the United States, at a depreciated value, of aircraft originally reported as transfers under U.S. military agency sales contracts under long-term lease
in 1970-III.
-1,219
-1, 597
-2, 202
-4, 022
-2,352
-2, 506
-1,829
-2, 229
-2, 827
-2, 748
-3, 034
-741
-2, 702 -260
-169
487
233
-182
-597
109
-3, 103 -705
-867 -1, 045
-3, 639 -1, 139 -266
250
-4, 234 -231 -1,051 -1,179
611
-5, 307 -3, 163 -6, 190 -2, 038
939
769
-5, 590 -1,517 -9, 994
3,993
3,270
2,845
1,237
-179
2,982
4,016
23
376
3,646
1,094 -1,751
2,456 1,219
131
-48
1,488 -1.494
51
52
53
54
55
56
9. Includes extraordinary U.S. Government transactions with India. See "Special U.S.
Government Transactions" in text of article.
NOTE.—Details may not add to totals because of rounding.
Source: U.S. Department of Commerce, Bureau of Economic Analysis.
SURVEY OF CURRENT BUSINESS
34
June 1974
Table 2.—U.S. International
[Millions
(Credits +; debits -^
Line
1 Exports of goods and services 2
-
2
3
4
5
6
7
8
9
10
Merchandise adjusted, excluding military ' - _ . _ _
Transfers under U.S. military agency sales contracts
Travel
-Passenger fares
Other transportation
- - .Fees and royalties from affiliatpd foreigners
Fees and royalties from unaffiliated foreigners
Other private services
-U S Government miscellaneous services
11
12
13
Receipts of income on U.S. investments abroad:
Direct investments < . .. _ . .
O ther 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
1962
1963
1964
1965
1966
1967
1968
1969
1970
1971
1972
1973
30,512
32,624
37,309
39,502
43,052
45,795
50,252
54,979
62,322
65,449
72,418
100,950
20,781
656
957
191
1,764
800
256
491
195
22,272
657
1,015
205
1,898
890
273
529
236
25,501
747
1,207
241
2,076
1,013
301
567
265
26,461
830
1,380
271
2,175
1,199
335
668
285
29,310
829
1,590
317
2,333
1,329
353
740
326
30,666
1,150
1,646
371
2,426
1,438
398
877
336
33,626
1,392
1,775
411
2,548
1,546
454
944
353
36,414
1,512
2,043
450
2,652
1,682
501
1,074
378
41,947
1,478
2,331
544
3,113
1,919
583
1,186
383
42,754
1,912
2,446
615
3,277
2,161
626
1,424
406
48,768
1,154
2,717
699
3,551
2,415
663
1,616
416
70,252
2,354
3,276
980
4,298
2,838
740
1,713
514
3,044
904
473
3,129
1,022
499
3,674
1,256
462
3,963
1,421
515
3,707
1,614
604
4,133
1,717
639
4,489
1,949
765
5,074
2,267
933
5,330
2,597
913
6,385
2,556
889
6,925
2,697
797
9,415
3,741
828
1,537
1,562
1,340
1,636
2,066
2,443
2,868
2,922
2,513
3,204
4,189
2,772
-25,424 -26,683 -28,766 -32,362 -38, 184 -41, 137 -48,272 -53,635 -59,391 -65,619 -78,427 -96,407
-26,260 -17,048 -18,700 -21, 510 -25, 493 -26,866 -32,991 -35,807 -39, 788 -45,476 -55,754 -69,629
-3, 105 -2,961 -2,880 -2,952 -3, 764 -4,378 -4,535 -4,856 -4,855 -4,819 -4,759 -4, 555
-- -1,939 -2, 114 -2,211 -2,438 -2,657 -3,207 -3,030 -3,373 -3,980 -4,311 -4,944 -5,407
16
17
18
Merchandise, adjusted, excluding military '. . _.
Direct defense expenditures
_.
Travel
19
20
21
22
23
24
Passenger fares
Other transportation
Fees and royalties to affiliated foreigners
Fees and royalties to unaffiliated foreigners.
_.
Private payments for other services. . . .
U S Government payments for miscellaneous services
25
26
27
Payments of income on foreign investments in the United
States;
Direct investment *
Other private liabilities
U.S. Government liabilities
.
-570
-1,558
-57
-44
-385
-398
-615
-1,701
-61
-51
-362
-447
-645
-1,817
-67
-60
-396
-535
-720
-1,951
-68
-67
-377
-550
-755
-2,161
-64
-76
-430
-642
-830
-2, 157
-62
-104
-484
-687
-885
-2,367
-80
-106
-587
-758
-1,080
-2, 455
-101
-120
-665
-715
-1,215
-2,816
-111
-114
-722
-736
-1,290
-3, 078
-118
-123
-850
-745
-1,596
-3,482
-155
-141
-918
-787
-1,667
-4,190
-208
-176
-1,023
-859
-185
-586
-339
-223
-701
-401
-202
-802
-453
-299
-942
-489
-372
-1, 221
-549
-381
-1,382
-598
-388
-1,843
-702
-417
-3,269
-777
-441
-3,591
-1,024
-621
-2,344
-1,844
-687
-2,522
-2,684
-892
-3,966
-3,836
28
U.S. military grants of goods and services, net..
-1,537
-1,562
-1,340
-1,636
-2,066
-2,443
-2,868
-2,922
-2,513
-3,204
-4, 189
-2,772
29
Unilateral transfers (excluding military grants of goods and
services), net
- - -
-2,628
-2,742
-2,754
-2,853
-2,925
-3,113
-2,943
-2,978
-3,256
-3,647
-3,797
-3,876
30
31
32
U.S. Government grants (excluding military grants of goods and
services)
U.S Government pensions and other transfers
Private remittances and other transfers
-1,916
-245
-467
-1,917
-262
-563
-1,888
-279
-587
-1,808
-369
-676
-1,910
-367
-648
-1,805
-441
-868
-1, 709
-406
-827
-1,649
-406
-923
-1,734
-462
-1,060
-2,043
-542
-1,063
-2, 173
-572
-1,052
-1,933
-693
-1,250
33
U.S. Government capital flows, net
-1,085
-1,662
-1,680
-1,605
-1,543
-2,423
-2,274
-2,200
-1,592
-1,884
-1,568
-2,650
-2,128
-245
-2,204
-447
-2,382
-19
-2,463
-16
-2,513
-265
-3,638
209
-3, 722
62
-3,489
89
-3,298
-16
-4,181
182
-3,820
166
-4,639
-608
607
681
663
326
597
123
653
221
806
428
999
6
1,117
269
1,287
-87
1,478
244
1,888
227
1,949
137
2,309
289
34
35
Loans and other long-term assets
Foreign currencies and other short-term assets, net
36
37
Repayments on credits:
Scheduled
Nonscheduled *
--
-
.
-8,740 -14, 101
38
U.S* private capital flows, net _
-3,426
-4,479
-6,618
-3,793
-4,352
-5,677
-5,417
-5,462
-6,916 -10,118
39
40
Direct investments abroad *
Foreign securities
-1,654
-969
-1,976
-1, 105
-2,328
-677
-3,468
-759
-3,661
-482
-3,137
-1,266
-3,209
-1,239
-3,271
-1,494
-4,410
-942
-4,943
-966
-3, 517
-654
-4,872
-807
41
42
43
Claims reported by U.S. banks:
Long-term
Short-term, nonliquid
-- Short-term liquid
-126
«-358
834
-775
8-747
8-34
-981
-1, 333
-191
-232
-200
525
317
-220
136
235
-645
-85
338
-44
-61
297
-658
-209
155
-1,023
-99
-612
-1,802
-566
-1,307
-1,457
-742
-833
-3,940
-1, 103
44
45
46
Claims reported by U.S. nonbanking concerns:
Long-term
...
. _ _ . .
Short-term, nonliquid
Short-term liquid
- - -
-132
«-187
8-35
162
-198
193
-485
-422
-201
-88
-103
532
-112
-180
-150
-281
-376
-122
-220
-485
-497
-424
-73
371
-586
-361
351
-168
-530
-531
-253
-305
-505
-464
-1,240
-841
5,945
22,529
21,163
18,650
-433
-478
238
1,111
1,030
2,190
1,112
902
23
-6, 240
-115
2,289
384
-15
-250
-6,691
383
4,507
594
221
149
4,749
2,537
4,051
264
904
252
4,436
7,637
-810
27,615
-551
9,734
399
4,452
1,118
-- - - - - - -
--
- -
-
1,697
2,983
3,317
383
3,320
6,942
9,439
12,287
48
U.S. Government nonliquid liabilities to other than foreign
official reserve agencies
_.
.
203
511
328
66
65
88
110
267
49
50
51
52
53
54
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
132
134
3
-112
5
215
-5
282
-13
-23
53
620
-5
-84
-38
113
88
1,554
57
-357
29
149
241
131
86
909
180
296
188
2,384
258
1,016
85
499
158
1,472
319
4,414
715
759
72
3,810
832
3,130
701
91
160
8,658
918
1,673
9
1,075
149
-18
-38
-1,595
793
2,020
894
-3, 101
534
47
55
56
57
58
59
60
61
62
Foreign capital flows, net
- - -
-
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 ...
SDR
Convertible currencies
Gold tranche position in IMF
.
63
Allocations of special drawing rights (SDR)
64
Errors and omissions, net
.
-.
-554
-836
199
-125
139
123
15
452
1,806
-162
535
341
189
-475
1,533
377
171
1,222
568
52
-880
-1,187
2,477
2,348
32
209
890
461
125
1,665
571
1,170
1,173
-967
17
626
-113
29
-220
266
-349
-94
-540
537
-1,024
-94
-1, 183
-870
814
-1,034
787
-851
2,152
389
866
-249
381
1,350
547
-703
35
153
9
233
-33
867
717
710
-1,179
-418
-978
-494
64
-439
94
-1,805
-458
-9,776
-1,790
-2,776
SURVEY OF CURRENT BUSINESS
June 1974
35
Transactions
of dollars]
1<)64
IS 63
K 62
1965
19 36
Line
I
II
III
IV
I
II
III
7,153
7,996
7,272
8,091
7,402
8,393
5,019
5,772
I
II
III
9,019
9,293
8,871
10, 126
8,685
10,501
6,206
198
247
46
492
237
72
138
60
6,359
187
334
64
518
241
74
140
65
5,987
162
364
79
527
239
76
144
67
6,949
201
262
53
538
296
79.
145
73
5,647
200
271
50
454
275
81
155
69
7,092
225
377
65
591
277
83
162
72
1,056
345
131
1,031
343
111
1,054
368
135
IV
I
7,736
9,094
6,209
145
218
47
496
268
70
140
62
5,057
96
206
37
417
178
62
123
44
5,413
4,960
5,251
228
279
52
441
199
63
122
48
127
284
59
442
200
65
122
52
205
188
43
464
224
66
124
52
166
205
38
415
210
66
124
56
243
284
57
491
207
68
128
59
5,272
103
308
64
496
205
69
136
58
643
219
71
699
224
127
645
225
92
1,057
235
183
781
233
90
716
257
109
665
254
106
967
278
194
933
291
99
881
315
115
803
306
117
388
626
218
306
447
678
194
244
308
524
IV
II
IV
I
II
III
9,570
10,747
10,230
10,878
10,393
11,551
1
6,383
194
416
94
556
295
85
172
74
7,339
211
316
62
574
352
87
180
70
7,091
193
321
57
530
312
86
180
73
7,401
257
432
86
597
313
87
182
86
7,005
172
492
100
626
323
89
187
77
7,813
207
345
75
581
380
91
191
90
2
3
4
5
6
7
8
9
10
843
341
117
1,034
371
152
895
372
119
886
411
140
811
394
117
1,114
436
228
11
12
13
784
III
IV
214
294
372
667
274
324
282
359
641
14
-5,947 -6,429 -6,582 -6,466 -6,042 -6,689 -7,128 -6,824 -6,592 -7, 177 -7,548
-7,450
-6,918
-8,272
-8,569
-8,603
-8,588
-9,446 -10,242
-9,908
15
-3,952 -4,096 -3,980 -4,232 -3,948 -4,244 -4,327 -4, 529 -4, 366 -4,600 -4,679
-737
-725
-726
-747
-699
-763
-748
-770
-761
-763
-810
-414
-341
-572
-852
-831
-298
-387
-320
-549
-745
-509
-5,055
-697
-446
-4, 610 -5, 493 -5, 495 -5,912
-676
-719
-794
-763
-406
-627
-932
-473
-5,913
-877
-424
-6,270
-925
-701
-6,540
-975
-1,037
-6,770
-987
-495
16
17
18
-90
-367
-15
-11
-93
-82
-209
-389
-177
-384
-12
-11
-93
-75
-16
-11
-101
-143
-94
-417
-111
-392
-209
-419
-14
-11
-98
-99
-13
-11
-81
-95
-16
-12
-86
-92
-191
-454
-17
-13
-96
-157
-104
-437
-14
-14
-98
-103
-109
-424
-14
-15
-86
-137
-235
-455
-16
-15
-95
-100
-202
-474
-16
-15
-107
-164
-99
-464
-20
-16
-107
-135
-140
-436
-20
-16
-99
-122
-255
-512
-18
-16
-92
-121
-203
-478
-15
-17
-93
-168
-122
-526
-15
-18
-93
-139
-145
-487
-16
-15
-88
-144
-254
-545
-16
-18
-99
-138
-228
-573
-15
-21
-118
-197
-128
-556
-17
-23
-125
-163
19
20
21
22
23
24
-43
-40
-59
-58
-145
-146
-139
-156
-160
-80
-84
-86
-90
-91
-95
-41
-171
-104
-77
-199
-110
-53
-188
-111
-46
-196
-110
-38
-192
-109
-65
-225
-123
-53
-220
-122
-78
-224
-118
-56
-231
-118
-112
-269
-131
-82
-264
-133
-67
-279
-134
-88
-313
-138
-135
-365
-144
25
26
27
-388
-626
-218
-306
-447
-678
-194
-244
-308
-524
-214
-294
-372
-667
-274
-324
-282
-784
-359
-641
28
-710
-649
-609
-661
-652
-708
-676
-706
-671
-752
-654
-678
-659
-836
-680
-677
-840
-787
-671
-627
29
-538
-464
-430
-484
-447
-501
-68
-59
-58
-59
-104
-125
-467
-63
-146
-503
r-64
-139
-473
-67
-131
-533
-66
-154
-429
-72
-153
-453
-75
-150
-440
-74
-145
-517
-135
-184
-420
-82
-178
-431
-77
-169
-618
-81
-141
-530
-80
-177
—376
-121
-175
-386
-85
-156
30
31
32
44
-121
-47
-171
-69
-66
-117
-136
-142
-392
-443
26
-275
-463
-725
-68
-406
-265
-468
-391
-557
-357
-622
-225
-401
-311
-595
-299
-339
33
-474
-486
-661
-564
-48
-506
-151
-75
29
-50
-624
-266
-444
-31
-572
-100
-532
68
-703
73
-605
22
-541
-182
-659
141
-700
-94
-472
-114
-632
51
-589
91
-695
-90
-584
-128
-646
-138
34
35
129
1
156
58
110
476
212
145
125
26
131
34
166
241
241
25
147
52
130
33
161
31
159
7
152
10
165
6
179
182
157
23
184
3
183
7
187
226
253
192
36
37
-1,024
-672
-520 -1,210 -1,078 -1,724
-283 -1,395 -1,333 -1,589 -1,193
-234
-196
-476
-308
-343
-119
6-331
-36
676
6-2
-87
-601
-378
5
24
682 6 -270
625 6-65
-2,503
-1,586
-525
-453
-1,228
-947
-1,257
-469
-1,680
38
-707
53
-430
20
-625
-206
-491
2
-781
-494
-1,190
-198
-944
-147
-441
-209
-893
-205
-643
-357
-1,075
-60
-694
-11
-1, 249
-54
39
40
-488
6 -494
658 6 -36
-268
-425
20
-92
-196
-336
-239
-162
246
-382
-550
-121
-461
-112
135
201
55
121
-41
143
117
69
-286
152
117
41
104
1
-14
-45
92
110
119
107
-357
-42
41
42
43
-525
-536
-161
-100
17
-188
«52 8-321
625 6-81
-116
-583
-522
616
85
6-35
611
6100
8-17
-47
-22
1
50
-64
-59
1
-9
28
158
-103
223
-27
-47
-176
-57
-49
-28
-271
-182
-96
-130
-144
99
6
31
203
-6
-17
212
-20
-33
31
-68
-84
86
-17
-29
-162
-51
-49
36
-28
4
-61
-16
-106
37
44
45
46
363
526
-26
835
749
1,305
508
421
-56
392
1,123
1,858
-312
-367
729
333
-70
1,120
954
1,316
47
26
-90
44
222
67
37
118
289
161
-44
-24
234
51
121
-52
-55
-85
-24
28
146
48
41
145
8
-22
6
-23
3
13
4.
-458
8
6
7
-54
2
-51
-5
14
-6
-30
3
397
47
114
4
65
24
141
40
52
-6
17
12
50
-87
103
-5
-75
14
32
17
-42
-5
5
10
226
29
14
(*)
19
g
115
-27
-30
-28
65
702
77
7
-15
-49
—1
22
562
-24
-26
-5
24
71
651
85
57
8
-5
173
201
-95
-242
-5
68
72
-149
44
-227
10
39
—35
712
22
55
16
47
31
-633
52
173
29
39
12
475
38
520
12
66
157
27
-113
107
61
134
12
1,211
110
109
78
57
7
671
49
50
51
52
53
54
-538
577
385
494
276
925
g
321
151
-399
26
214
44
389
15
871
64
-861
—21
-107
—29
253
—16
697
28
-852
48
54
282
-598
88
-199
375
55
56
200
33
—61
—96
—1
-55
-7
202
—1
-164
881
389
32
123
227
-5
-51
303
70
-151
842
—1
68
57
427
304
116
446
24
111
116
196
38
46
-73
-20
172
832
-114
-324
237
44
104
331
351
14
-33
-46
6
1
-28
59
-58
15
-228
131
2r8
118
-45
135
-205
-118
131
-164
-442
-703
53
24
-315
-180
-52
-3
-278
-645
-66
6 -159
-40
-23
646 6-174
—1
-3
125
40
-12
25
-38
41
271
424
68
82
-6
58
590
124
119
68
209
173
121
-58
68
-56
-466
-413
330
178
-26
222
134
-163
22
-426
335
-173
46
59
60
61
62
305
54
-412
-441
101
19
252
-308
64
(*)
63
SUKVEY OF CUKEENT BUSINESS
36
June 1974
Table 2.—U.S. International
19 37
(Credits +; debits -)1
Line
I
1 Exports of goods and services 2
2
3
4
5
6
7
g
9
10
Merchandise adjusted, excluding military 3
Transfers under U.S. military agency sales contracts
Travel
Passenger fares
Other transportation
Fees and royalties from affiliated foreigners
Fees and royalties from unaffiliated foreigners
Other private services
U.S. Government miscellaneous services
11
12
13
Eeceipts of income on4 U.S. investments abroad:
Direct investments
. .
. _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
Merchandis adjusted excluding military 3
Direct defense expenditures
Travel
Passenger fares
Other transportation
_
__
Fees and royalties to affiliated foreigners. _
Fees and royalties to unaffiliated foreigners
Private payments for other services
_U S Government payments for miscellaneous services
25
26
27
Payments of income on foreign investments in the United
States:
Direct investments *
Other private liabilities
U S Government liabilities
II
ige 9
19(58
III
IV
I
II
III
IV
ii
I
III
IV
11, 147
11,613
10, 943
12, 092
11 658
12 941
12 523
13 130
11 599
14 525
13 726
15 129
7,638
7,966
7,190
7,872
7 940
8 644
8 310
8 732
7 443
9 865
340
385
88
627
442
119
237
86
390
442
82
498
368
121
246
86
8 936
404
625
163
735
412
126
277
91
10 170
380
554
113
732
433
124
261
109
1,332
1,229
1,161
1,197
328
358
67
576
337
94
200
81
287
427
87
630
354
98
213
90
930
418
120
661
206
502
135
620
356
101
228
80
328
359
83
599
392
105
237
84
873
435
154
993
415
117
1,337
987
453
164
1,142
449
247
725
506
552
589
658
299
377
78
588
339
108
236
89
415
465
106
658
375
112
235
95
491
205
339
548
140
675
390
115
236
83
1,028
494
166
693
512
230
927
-9,749
-10,231 -10,541 -10,617 —11,020 -11,979 —12,901 —12,373
-6, 614
-1,085
-468
— 159
-536
-6, 586
-1,075
-866
-282
-553
-16
-25
-15
-26
-6, 416
-1, 106
-1,327
-248
-515
-15
-26
-17
-27
-112
—151
-119
-146
-126
-208
—7,684
—1, 103
-508
—159
-560
-8, 202
-1,112
-753
-291
-582
-22
—27
-18
-27
-127
-183
-131
—153
-145
—141
-7,250
-1,112
-546
-141
-554
509
184
563
231
578
881
569
191
629
338
422
92
687
468
130
289
93
1,487
626
326
833
11, 038 —14, 170 -14,376 —14,050
—8 634
—1, 173
-530
—153
—606
—7,330
-1, 198
-552
— 197
-493
-9, 165
-1,221
-1,360
-343
-645
-19
—26
-28
—27
-24
-29
-22
-32
—9, 570
-1,251
-602
-187
-685
-21
—26
—9, 742
-1, 187
-859
-353
-633
— 151
—207
-160
—257
-161
-156
-167
-148
-168
-210
-169
—201
—8,471
—1, 147
-1,239
—282
-619
-28
-33
-93
-83
-89
—492
—156
-101
-611
-185
-99
—440
-184
—107
—519
—188
-99
-328
-138
-106
—393
-174
-92
-333
-148
-116
—370
-174
-84
—352
-138
-738
-192
-924
-188
-117
-996
-212
28
U.S. military grants of goods and services, net
-661
-725
-506
-552
-589
-658
—693
-927
-578
-881
-629
-833
29
Unilateral transfers (excluding military grants of goods and
services), net
-
-740
-916
-816
-641
-662
-769
-750
-762
-660
-926
-667
-715
-485
-509
-447
-156
-212
-364
-393
-471
-454
-102
—206
-376
-184
-564
-102
-261
-335
-104
-239
-374
-102
-239
30
31
32
33
U.S. Government grants (excluding military grants of goods
and services)
U.S. Government pensions and other transfers .
Private remittances and other transfers
Loans and other long-term assets
_ _ _
Foreign currencies and other short-term assets, net
36
37
Repayments on credit:
Scheduled
Nonscheduled "
-
-96
-181
—177
-207
—390
-122
—239
-92
-91
-99
—646
-644
-506
-627
—742
-730
—523
—279
-471
-721
-647
-362
-729
-1,171
-993
-997
-702
-797
130
-939
-102
-789
40
-841
—144
-823
441
-787
—127
34
230
-98
-59
16
194
(*)
270
(*)
178
6
358
(*)
257
42
308
3
210
55
341
169
249
44
339
34
269
-154
430
-11
. . . -1,199
-936
-1,280
-2, 262
-971
-1,506
-1,349
-1,592
-1,375
-2,362
-838
-887
—903
—259
-403
-237
—710
-409
— 1,120
-361
—666
-360
-973
-105
—1 028
—259
—541
—515
—1,010
-365
-1, 199
-499
-943
-506
-120
-125
179
-87
—47
—35
49
200
-57
4
—118
-196
—192
123
118
-41
19
—228
130
70
149
155
—344
-543
121
236
19
-469
-142
-
1
38
U.S. private capital flows, net
39
40
Direct investments abroad '
Foreign securities
41
42
43
Claims reported by U.S. banks:
Long-term
Short-term nonliquid
Short-term liquid
_
143
—26
8
44
45
46
Claims reported by U.S. nonbanking concerns:
Long-term
. - _
Short-term nonliquid
_
Short-term liquid
-68
—41
—53
-164
11
60
36
—79
52
-267
— 181
-178
—409
-57
—49
—32
-165
—211
-101
224
-253
86
-13
54
194
-249
-161
—280
91
1,906
2,425
2,521
958
2,500
2,891
3,090
2,996
4,472
3,972
847
65
202
-53
-126
-21
106
46
-64
46
-47
331
164
365
152
396
270
981
59
80
145
113
341
-19
47
48
_ _.
-96
-311
-1,281
U S Government capital flows net
34
35
-92
-163
-
_ _ _ _ _
Foreign capital flows net
U.S. Government nonliquid liabilities to other than foreign
official reserve agencies
49
50
51
52
53
54
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
55
56
57
U.S. liquid liabilities to foreign official agencies
._
Other readily marketable liabilities to foreign official agencies7.
Nonliquid liabilities to foreign official reserve agencies reported
by U.S. Government
58
59
60
61
62
Gold _ .
SDR
Convertible currencies
Gold tranche position in IMF. .
63
Allocations of special drawing rights (SDR)
64
Errors and omissions, net
_
—20
-85
34
—47
70
329
1?
520
112
34
251
855
125
94
-24
90
-19
183
3
132
154
53
16
760
-60
721
1,300
190
-1, 358
116
—709
--.
(*)
64
133
67
Transactions in U.S. official reserve assets, net
—38
20
90
55
1,331
-80
540
260
304
596
-196
-32
5
39
-21
-82
135
-45
-80
34
344
23
41
246
1,124
20
227
1,312
376
211
1,388
156
-83
-12
119
-6
21
128
17
2,222
1,031
-164
3,022
4,648
1,377
-389
-2, 190
150
-38
485
131
137
-1, 708
-43
-543
-195
2, 215
-390
-518
-208
1,122
165
268
25
28
-7
331
100
247
627
406
526
88
-172
-118
1,027
—419
—375
-181
904
-137
-571
-1,076
-48
-299
-686
41
-154
51
15
92
1,012
1,362
22
-74
-137
56
-317
-11
-695
1,007
-424
-462
-1, 145
-10
-5
-57
-426
-23
-575
-364
-73
-31
246
-31
267
-474
-48
-401
-228
-442
-233
1,083
-542
70
-373
150
-286
-126
-321
679
-138
-1,004
-519
-474
192
export documents, and imports of goods included under direct defense expenditures identified
v Preliminary.
*Less than $500,000 (±).
1. Credits, -f: Exports of goods and services; unilateral transfers to U.S.; capital inflows in Census import documents, and reflects various other balance-of-payments adjustments
(increase in U.S. liabilities or decrease in U.S. assets); decrease in U.S. official reserve assets. (for valuation, coverage, and timing) to Census statistics; see table 4.
4. Includes interest, dividends, and branch earnings; excludes reinvested earnings of foreign
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. incorporated affiliates of U.S. firms or of U.S. incorporated affiliates of foreign firms.
5. Includes sales of foreign obligations to foreigners.
2. Excludes transfers of goods and services under U.S. military grant programs.
6. Coverage of liquid banking claims for 1962-63 and of liquid nonbanking claims for 1962 is
3. Excludes exports of goods under U.S. military agency sales contracts identified in Census
SURVEY OF CURRENT BUSINESS
June 1974
37
Transactions—Continued
I
II
III
IV
I
II
19'rs
19'12
19'71
197 0
III
IV
I
II
III
IV
I
II
1974
Line
III
IV
I»
14,912
16, 174
15,080
16,157
16,040
17,070
16, 148
16, 192
17, 127
17,660
17,289
20,343
22,044
24,601
24,451
29,854
32,750
1
10, 111
256
507
103
701
421
136
292
87
11,003
487
624
143
801
496
143
295
87
10,022
303
699
181
843
466
149
298
101
10, 811
433
501
117
768
536
155
301
108
10,900
475
530
124
769
478
157
320
107
11, 191
577
631
157
886
560
157
344
108
10, 728
429
729
190
907
496
156
368
104
9,935
432
556
144
715
627
156
392
88
11,780
311
579
135
776
543
159
400
92
11,912
224
717
180
901
619
163
405
104
11, 483
224
815
216
938
569
168
406
109
13, 593
299
606
167
936
684
173
405
111
15,420
326
739
198
927
637
178
412
107
17, 352
509
827
244
1,097
674
183
423
118
16,901
466
988
324
1,146
738
187
433
158
20,579
1,054
722
213
1,128
790
192
445
132
22, 554
642
868
247
1,130
692
195
456
109
2
3
4
5
6
7
8
9
10
1,458
639
202
1,190
662
243
1,193
648
178
1,489
649
290
1,359
643
179
1,613
617
229
1,243
632
167
2,170
664
314
1,477
679
196
1,513
633
191
1,535
682
145
2,400
703
265
2,128
784
188
2,085
878
213
1,992
958
158
3,210
1,121
269
4,382
1,273
202
11
12
13
551
694
659
609
786
789
677
952
1,141
923
1,188
936
693
833
758
487
391
14
-13,797
-15,089
-15,536
-14,970
-14,787
-17,031
-17,676
-16,126
-18,345
-19,488
-19,990
-20,603
-21,557
-24,368
-24,620
-25,862
-28,734
15
-11,260
-1,236
-785
-260
-721
-32
-35
-220
-205
-13,351
-1,222
-837
-280
-812
-38
-36
-223
-164
-13,676
-1,242
-1,340
-527
-849
-39
-35
-233
-172
-13, 635 -15,092
-1,109 8 -1,185
-1,848
-919
-486
-303
-902
-919
-34
-43
-35
-35
-231
-231
-245
-206
-16,006 -17,450 -17,076 -19,097
-1,175 8 -1,209 -1,067
-1,104
-912
-1, 551 -1,970
-974
-320
-563
-483
-301
-921
-1,039
-1, 134 -1,095
-56
-49
-46
-57
-38
-42
-46
-49
-236
-264
-255
-267
-174
-172
-283
-230
-21,661
-1,138
-952
-309
-1,106
-60
-49
-274
-188
16
17
18
19
20
21
22
23
24
-9, 455 -10,018
-1,178
-1,259
-632
-1,046
-382
-224
-721
-598
-30
-23
-32
-29
-169
-182
-161
-155
-9, 834 -10, 481 -10,455 -11,952 -11,809
-1,203
-1,211
-1, 208 -1, 174 -1,206
-1, 149 -1, 662
-695
-715
-1,607
-428
-392
-211
-398
-210
-805
-846
-785
-712
-706
-27
-30
-28
-30
-29
-32
-29
-27
-26
-27
-212
-219
-186
-185
-200
-159
-215
-231
-206
-150
-125
-995
-204
-97
-928
-243
-98
-876
-273
-120
-793
-304
-177
-625
-320
-137
-537
-390
-160
-580
-512
-147
-603
-622
-187
-582
-614
-150
-594
-631
-138
-641
-687
212
-705
-752
-140
-749
-830
-182
-895
-960
-174
-1,063
-1,014
-395
-1,259
-1,031
-822
-1,209
-967
25
26
27
-551
-694
-659
-609
-786
-789
-677
-952
-1,141
-923
-1,188
-936
-693
-833
-758
-487
-391
28
-785
-849
-799
-823
-818
-929
-936
-964
-983
-999
-937
-879
-753
-1, 100
-876
-1, 147 9 -2,922
29
-444
-100
-241
-441
-118
-290
-400
-122
-276
-448
-122
-253
-466
-124
-229
-525
-142
-262
-504
-138
-294
-548
-138
-277
-605
-142
-236
-598
-142
-259
-536
-121
-280
-435
-166
-278
-375
-172
-206
-685
-171
-244
-449
-179
-249
-425 9 -2, 552
-107
-172
-263
-551
30
31
32
-485
-442
-352
-313
-663
-656
-318
-246
-302
-340
-457
-469
-676
-489
-536
-949
U,206
33
-877
20
-933
-37
-704
44
-784
-43
-1,258
80
-1,299
79
-733
6
-891
17
-904
108
-953
14
-818
14
-1,145
31
-1,297
-30
-1,341
-27
-1,027
29
-973
-581
-1,344
9 -180
34
3£
285
88
414
114
307
2
473
40
511
4
462
102
337
72
578
50
407
88
583
17
340
7
619
26
540
111
705
174
459
4
605
(*)
92,730
(*)
37
-1,950
-2,247
-1,011
-1,708
-2,241
-2,767
-2,953
-2, 158
-3,404
-807
-1,755
-2,775
-6,308
-2,007
-996
-4,789
-7,991
38
-1,564
-210
-1, 638
93
-771
-488
-439
-337
-1, 585
-356
-1,703
-377
-1, 335
-305
-320
71
-1,689
-437
-420
-346
-1,098
209
-311
-79
-2, 445
51
-943
-124
-510
-209
-974
-525
-862
-647
3S
4C
14
13
236
49
-461
-133
12
275
18
80
-850
-220
15
111
-2
-153
-377
22
-247
-481
-341
-227
-1,055
-245
-189
-324
-453
-346
183
301
-360
57
-422
-412
-1,373
-168
-263
-1,542
-1,171
-317
-1,432
996
199
556
-456
-452
-1,522
-472
-192
-2, 697
-2, 248
41
42
42
-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
-64
83
-197
20
-38
-123
-135
-402
105
-142
29
-825
-71
7
-123
-150
-402
-24
-101
-874
131
-125
-666
-554
4^
4
4(
1,627
1,646
2,027
645
2,396
5,776
9,080
5,278
4,113
4,621
6,778
5,651
10, 694
2,781
2,718
2,457
5,361
4
-28
-257
41
-189
-74
-74
-204
-126
-92
110
146
73
223
437
224
227
75
491
304
90
100
7
-1,697
104
374
325
168
19
-132
245
720
200
211
22
-1,222
190
792
497
423
-25
-3, 189
124
559
164
-265
-152
-2, 534
1
196
32
-79
-61
136
-425
626
-191
168
-71
-2, 153
184
908
379
161
34
-2, 140
-215
1,059
-83
45
200
589
216
961
226
42
83
2,189
158
718
142
-44
-73
262
224
1,769
309
178
-61
1,709
351
1,718
245
38
153
-1,808
588
489
39
1
78
1,934
886
1,173
190
335
28
808
712
670
-210
530
-7
3,502
1,127
696
-57
323
140
4,338
4
49
5
50
5
51
5
52
5
53
5
54
2,773
-154
537
-235
2,048
-233
2,279
-188
4,776
-201
5,788
-160
11,506
-173
5,545
-17
2,108
221
771
27
5,356
34
1,499
117
8,615
1,202
-1,210
259
-485
11
-2, 468
-354
-999
-277
5
55
56
5
-259
743
-5
55
-2
-4
-3
-4
78
-165
-43
165
-452
-145
-2
1,022
801
1,040
145
838
1,373
350
g
280
-386
-103
-53
122
66
220
17
-13
-15
-210
-44
-920
831
-253
14
-37
818
227
395
-34
34
406
422
140
469
9
109
—592
373
255
456
196
-66
252
300
150
72
851
1
—3
2
-8
544
—710
64
-1
7
—245
185
134
-15
82
-16
233
-13
-13
(*)
(*)
-15
-1
-209
-594
-1,049
-1,335
-3,664
-128
450
536
867
-3
717
-215
-211
-29
-789
9
(
*)
U
8
710
-2,302
-4,717
-1,968
1,188
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,
private corporations, and State and local governments.
8. Includes return import into the United States, at a depreciated value of $21 million in
3
3e
4*
57
5
5!
5(
6
6
6
6
566
6
1972-IV and $22 million in 1973-11, of aircraft originally reported in 1970-III in line 3 as a longterm lease to Australia.
. TT
9. Includes extraordinary U.S. Government transactions with India. See "Special U.S.
Government Transactions" in text of article.
NOTE.—Details may not add to totals because of rounding.
Source: U.S. Department of Commerce, Bureau of Economic Analysis.
SURVEY OF CURRENT BUSINESS
38
June 1974
Table 3.—U.S. International
[Millions
19f 2
(Credits +; debits-)'
Line
1 Exports of goods and services 2
2
3
4
5
6
7
g
9
10
Merchandise, adjusted, excluding military 3 _
Transfers under U S. military agency sales contracts
Travel
Passenger fares
-. ._.__
Other transportation
Fees and royalties from affiliated foreigners
Fees and royalties from unaffiliated foreigners.Other private services
U S Government miscellaneous services
11
12
13
Receipts of income on U.S. investments abroad:
Direct investments *
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
Merchandise, adjusted, excluding military 3
Direct defense expenditures
Travel
.
Passenger fares
Other transportation
- - Fees and royalties to affiliated foreigners
_ _ _
Fees and royalties to unaffiliated foreigners
Private payments for other services
U S. Government payments for miscellaneous services
25
26
27
Payments of income on foreign investments in the United States:
Direct investments *
Other private liabilities
U.S. Government liabilities *
- - -
28
29
30
31
32
33
34
35
36
37
38
-
- -
_
_ _ .
-
_
_ - -
_
.
- - -
Repayments on credits:
Scheduled
_.
-
Claims reported by U.S. nonbanking concerns:
Long-term
Short-term nonliquid
Short-term liquid
- -- _
-
U S liquid liabilities to foreign official agencies
*
Other readilv 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
Errors and omissions, net
678
221
100
736
218
138
736
232
116
894
232
119
388
626
218
-
-
-
-
II
III
IV
7,737
7,661
7 603
8 165
8 226
8 630
5,331
5,037
5,063
5,599
5 671
5 939
154
231
47
440
211
65
122
52
--
204
229
48
454
202
66
124
52
187
245
49
439
217
66
124
56
828
273
126
306
447
678
194
244
—6, 603
—6,812
—6,845
-4, 226
-748
-525
-144
-414
-4, 372
-726
-545
-153
-438
-4, 386
-725
-541
—162
-437
-118
-111
—6,341
—6,390
—6, 495
-4, 116
-761
-488
-141
-370
-4,098
-810
-502
-151
-418
-4,064
-763
-503
-156
-413
-16
—11
148
264
53
485
242
70
140
62
760
262
131
-4, 080
-763
-483
-148
-383
-101
-105
127
253
50
492
217
69
136
58
743
251
119
-3, 966
-770
-466
-130
-386
-12
—11
-93
-91
195
253
54
482
214
68
128
59
798
236
123
—6, 423
-14
-11
-98
-110
-13
—11
-81
-107
-16
—12
-86
-111
-17
—13
—96
-14
-14
-98
-45
-46
-49
-46
-60
-146
-147
-147
-53
-146
—161
-173
-91
-95
-179
-104
-188
-110
-84
-86
-90
—51
-59
-388
-626
-218
-306
-447
-678
-194
-244
-697
-617
-632
-681
-638
-671
—702
-732
—515
-441
-457
-503
-472
—497
—527
-114
-58
-59
-422
-117
-117
-119
-147
-133
-142
-141
-59
-69
-66
-63
-64
-406
-381
8
-306
-482
-654
—86
-440
-478
-475
-131
-520
-654
-560
-98
-581
-251
-486
-577
-27
-71
155
1
167
58
131
476
154
145
150
26
144
34
186
241
183
25
-1,049
-630
-855
-894
-1,112
-1,719
-641
-1,008
-272
-196
-429
-308
-498
-455
-378
-620
-522
-492
-536
-334
-100
-530
-119
8 -352
24
6-37
6-65
17
6150
615
-188
6 -314
-116
6 -196
6 -81
658
6-252
6 -36
1
-19
65
158
-47
134
-36
-79
-87
5
6 -119
6 -2
625
-23
653
49
625
53
-488
6 -152
-40
-3
« 37
6-35
611
6 -17
-47
-69
89
690
620
-330
718
1,147
143
230
18
—21
89
116
31
136
178
166
41
145
8
-22
6
-23
3
13
4
518
77
7
-15
-49
-1
100
-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
-18
523
90
324
921
-113
25
883
9
-68
-16
200
-104
22
389
32
123
227
-5
116
-164
881
304
116
446
24
111
-114
-324
237
44
104
331
351
14
-33
-46
-96
-271
-419
-392
-127
427
-
I
-1
- -_
.- -
.-
IV
III
-6,201
«5
55
56
57
Allocations of special drawing rights (SDR)
189
250
49
432
203
63
122
48
-66
- --
49
50
51
52
53
54
64
247
47
438
185
62
123
44
« -125
--
Other foreign private capital:
Direct investments in the United States *
_
U S securities other than Treasury issues
_
O ther 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
63
5,336
676
Foreign capital flows net
- -U S Government nonliouid liabilities to other than foreign official reserve agencies
Gold
SDR
Convertible currencies _
Gold tranche position in IMF
7,784
5,077
110
-84
--
44
45
46
7,332
-68
- - - -
U S private capital flows net
II
-80
- _
Loans and other long-term assets
Foreign currencies and other short-term assets, net
41
42
43
59
60
61
62
_
U S Government grants (excluding military grants of goods and services)
U.S. Government pensions and other transfers
_ _
Private remittances and other transfers -- -- -U.S. Government capital flows, net
I
-15
-11
-93
-93
Unilateral transfers (excluding military grants of goods and services), net
Claims reported by U.S. banks:
Long-term
Short-term, nonliquid
Short-term liquid
58
- --
_ _ .
_ _ _ _ _
Direct investments abroad *
Foreign securities
47
_ - _ _ _ - _
U.S. military grants o f goods a n d services, n e t
39
40
48
- - - -
1963
50
-63
-95
1,465
6
1
-106
196
38
-28
59
-58
15
-355
170
SURVEY OF CURRENT BUSINESS
June 1974
39
Transactions—Seasonally Adjusted
of dollars]
1966
19()5
19 34
1967
1968
Line
I
II
III
IV
I
II
III
IV
I
II
III
I
IV
II
III
IV
I
II
III
IV
9,200
9,074
9,417
9,620
8,865
10,278
10,491
10,577
10,877
11, 107
11,372
11,289
11,503
11,634
11,851
12,601
13, 189
12,614
6,242
207
292
60
523
245
72
138
60
6,199
151
297
61
506
250
74
140
65
6,423
192
303
61
519
251
76
144
67
6,637
198
315
60
527
267
79
145
73
5,687
207
319
64
484
285
81
155
69
6,938
188
337
64
577
288
83
162
72
6,863
229
347
71
546
309
85
172
74
6,973
206
377
72
568
317
87
180
70
7,193
196
374
73
564
326
86
180
76
7,171
214
394
84
581
324
87
182
82
7,408
203
410
74
609
334
89
187
79
7,538
216
412
87
580
344
91
191
89
7,688
329
412
88
610
355
94
200
84
7,714
239
392
87
612
363
98
213
85
7,663
240
414
99
599
365
101
228
83
7,601
341
428
98
604
356
105
237
84
7,944
302
8,390
343
433
101
623
361
108
236
92
431
105
638
383
112
235
87
8,898
392
451
102
648
398
115
236
87
8,394
356
460
104
639
404
119
237
87
1
933
296
132
901
306
124
920
318
143
919
337
63
1,020
347
147
1,066
357
146
968
357
144
908
362
78
890
377
156
915
398
145
926
412
146
976
426
157
930
424
158
905
421
160
1,128
433
150
1,170
439
171
986
462
203
1,194
477
206
1,141
512
209
1,168
499
147
1
1
1
308
524
214
294
372
667
274
324
282
784
359
641
661
725
506
552
589
658
693
10, 165 10, 198
927
1
-9,999 -10,132 -10,059 -10,214 -10,735 -11,502 -11,862 -12,475 -12,435
1
-4,416 -4, 598 -4,756 -4, 930 -4,688 -5,484 -5, 567 -5, 771 -6,030 -6, 170 -6, 617 -6, 676 -6,668 -6, 476 -6, 570 -7, 152 -7,823 -8,136 -8, 576 -8,456
-676
-763
-794
-719
-697
-877
-925
-975
-987 -1, 085 -1, 075 -1, 106 -1, 112 -1, 103 -1, 112 -1, 147 -1, 173
-699
-747
-737
-603
-581
-600
-610
-644
-555
-625
-676
-666
-671
-707
-843
-743
-531
-544
-914
-760
-738
-788
-744
-182
-179
-156
-188
-167
-188
-194
-204
-214
-207
-169
-186
-191
-207
-205
-153
-167
-216
-232
-230
-512
-562
-459
-507
-521
-461
-465
-539
-459
-548
-561
-547
-505
-545
-446
-451
-587
-577
-607
-596
-20
-18
-15
-16
-16
-15
-17
-22
-20
-15
-16
-15
-15
-17
-14
-16
-16
-18
-21
-19
-21
-16
-16
-17
-23
-16
-18
-15
-18
-25
-27
-15
-26
-26
-27
-27
-15
-15
-26
-26
-92
-99
-93
-93
-99
-125
-112
-107
-88
-118
-119
-127
-131
-107
-126
-145
-86
-95
-151
-160
-132
-134
-144
-159
-164
-141
-140
-158
-161
-166
-168
-174
-151
-127
-180
-168
-167
-117
-175
-248
1
1
1
1
-6,915 -7,099 -7,260 -7,493 -7,276 -8,195 -8,256 -8,639 -9,013 -9,283 -9,890
-54
-191
-111
-51
-198
-110
-47
-201
-109
-50
-211
-123
-55
-221
-122
-90
-229
-118
-308
-524
-214
-294
-372
-654
-710
-682
-710
-642
-445
-67
-142
-500
-66
-144
-461
-72
-149
-482
-75
-153
-288
-386
-414
-507
-2
-650
87
-665
37
169
52
144
33
183
31
-101
-322
-144
-108
-348
-138
-94
-354
-137
-95
-340
-150
-784
-359
-641
-661
-725
-729
-710
-663
-725
-856
-484
-80
-165
-419
-121
-170
-419
-85
-159
-455
-92
-178
-461
-96
-299
-321
-504
-339
-380
-643
-495
-32
-643
-64
-686
-94
-690
-75
-1, 158
301
196
7
215
226
193
192
-847
-830 -1,101 -1,037
-924
-635
-209
-709
-205
-728
-357
-934
-60
-917
-11
-67
-240
-118
-87
-254
-131
-85
-266
-131
-78
-285
-136
-667
-274
-324
-282
-786
-716
-708
-824
-411
-74
-157
-477
-135
-174
-461
-82
-173
-459
-77
-172
-588
-81
-155
-592
-374
-536
-254
-441
-559
-141
-599
43
-643
-79
-553
-86
-668
106
101
7
172
10
180
6
203
182
98
23
203
3
-1,387 -1,578 -1,557 -2,096 -1,684
-432
-879
-147
-95
-357
-166
-104
-395
-175
-506
-552
-589
-852
-679
-647
-490
-156
-206
-399
-96
-184
-423
-92
-91
-193
-194
-543
-551
-685
-706
-740
-92
-851
77
-889
-76
214
(*)
289
(*)
217
6
-1,290
-1, 102
-907
-1,082
-54
-707
-259
-518
-237
-97
-332
-145
-362
-95
2
2
2
2
2
2
2
2
-98
-493
-165
-92
-507
-180
-658
-693
-927
2
-708
-789
-800
2
-434
-122
-233
-489
-102
-209
3
3
3
-632
-568
-368
3
-895
-872
95
3
3
-449
-182
-16
-54
-923
38
280
(*)
300
42
314
3
262
55
240
169
3
3
-1,807
-1,860
-891
-1,153
-1,708
-1,664
3
-947
-409
-964
-361
-456
-360
-843
-105
-1,033
-259
-876
-515
3
4(
49
270
43
155
-297
-61
4
46
-132
4
4
4
-1, 032
-462
20
-613
-206
-664
2
-588 -1, 245
-494
-198
-268
-475
4
-92
-233
-268
-239
-305
181
-382
-320
-108
-461
-174
108
201
29
199
-41
9
48
69
-64
170
117
-42
68
1
-13
37
92
-30
47
107
-135
-16
143
-131
-41
179
-315
53
-87
-202
-122
(*)
25
130
-63
89
-27
-93
-86
-57
-48
-61
-271
-197
-64
-130
-84
10
6
-18
298
-6
-16
187
-20
-54
55
-68
-15
-8
-17
-82
-60
-51
-45
28
-28
-28
-49
-16
-25
-69
-68
-97
58
-164
19
76
36
-126
50
-85
-172
-305
34
-32
-108
-159
-167
-368
-57
-112
-44
-165
-100
74
4
4
4
394
551
686
1,686
182
-354
344
210
447
973
695
1,208
319
1,931
2,215
2,474
1,174
2,247
2,423
3,595
4
136
37
32
122
26
171
-2
-130
—100
22
81
62
60
247
-8
—211
-18
170
1
-43
4
17
-42
-5
5
10
14
29
14
(*)
19
8
253
-27
-30
-28
65
-1
432
-24
-26
-5
24
71
855
85
57
8
-5
173
-7
-95
-242
-5
68
72
-7
44
-227
10
39
-35
538
22
55
16
47
31
-393
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
112
34
3
132
16
5
1,073
251
855
154
53
-60
538
23
1,124
88
227
-12
792
41
1,312
263
211
119
164
4
51
5
5
5
5
296
26
-63
161
44
-14
34
15
194
583
64
22
-126
-21
-8
-279
-29
-8
1
-16
-8
386
28
148
-117
48
32
-260
282
-19
-688
88
16
-529
375
-14
348
304
19
421
596
-13
246
-196
323
1,002
-955
190
123
116
240
150
619
-350
131
399
843
137
548
5
5
5
3
1,122
210
268
25
2,316
-2, 638
-51
303
70
-151
842
68
41
271
424
68
82
—6
1,027
-419
-375
-181
904
-137
-571
-1,076
5
46
-73
-20
172
832
590
124
119
68
209
173
121
51
15
92
1,012
1,362
22
-74
-137
5
6
-228
131
258
118
-45
135
-205
-118
-58
68
-56
-466
-413
330
178
-26
222
134
-163
22
-426
335
-173
46
1,007
-31
-424
-10
-4625
~
-1, 145
-401
267
-57
-426
-575
-364
6
-48
-474
-23
6
6
-299
-155
-260
-264
87
-43
-477
-61
-103
-65
209
23
-116
-436
81
32
-183
-356
499
134
6
SURVEY OF CURRENT BUSINESS
40
June 1974
Table 3.—U.S. International
[Millions
IS 69
l
(Credits +; debits -)
Line
I
1 Exports of goods and services 2
.
-
.
3
4
5
6
7
8
9
10
Merchandise, adjusted, excluding military 3
. _ _
Transfers under U.S. military agency sales contracts. . _ _ Travel
Passenger fares
- . _ . _
- - - - - _ ._
Other transportation
Fees and royalties from affiliated foreigners
Fees and royalties from unaffiliated foreigners
. _ - - .
.
Other private services
U.S. Government miscellaneous services .
11
12
13
Receipts of income on U.S. investments abroad:
Direct investments 4 _•
Other private assets
U S Government assets
9
___
-..--.
_._
.
14
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 affiliated foreigners
...
Fees and royalties to unaffiliated foreigners
.
Private payments for other services
U.S. Government payments for miscellaneous services _.
25
26
27
Payments of income on foreign investments in the United States:
Direct investments *
Other private liabilities
U S Government liabilities
_ __
.. ...
28
U.S. military grants of goods and services, net. .
Unilateral transfers (excluding military grants of goods and services) , net
..
_ •_
. _ _.
U.S. Government grants (excluding military grants of goods and services)
U S Government pensions and other transfers
Private remittances and other transfers
Loans and other long-term assets
Foreign currencies and other short-term assets, net
36
37
Repayments on credits:
Scheduled. . - . - . . - .
Nonscheduled 5
38
U S. private capital flows, net
39
40
Direct investments abroad 4
Foreign securities
-_
41
42
43
Claims reported by U.S. banks:
Long-term
Short-term, nonli quid
Short-term liquid
-----
44
45
46
Claims reported by U.S. nonbanking concerns:
Long-term
Short-term, nonliquid
- Short-term, liquid
..
49
50
51
52
53
54
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 t o private foreigners.
_ _ _ _ _ _ _ _ _
55
56
57
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
63
64
15, 639
15, 798
15, 645
10, 230
10, 558
10, 703
10 456
1,320
1,317
407
502
108
528
394
121
246
89
Transactions in U.S. official reserve assets, net
Gold
SDR
Convertible currencies
Gold tranche position in IMF-
441
514
119
705
420
126
277
95
1,214
1,326
1,322
582
238
1,437
1,256
550
232
618
236
648
242
650
241
336
513
111
709
429
130
289
94
p 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.
3. Excludes exports of goods under U.S. military agency sales contracts identified in Census
435
579
139
776
483
143
295
84
347
575
134
809
482
149
298
102
659
220
429
603
140
791
495
155
301
107
641
210
881
629
833
551
694
659
609
—13,939
—13,871
—14,155
—14,498
—14 822
—14,944
—15 131
-7, 589
— 1,198
—821
-255
—518
-9, 572
— 1, 187
-834
-264
—631
-9,375
— 1,251
-868
-284
—675
—9, 727
— 1 178
—946
-292
—628
-9, 831
— 1 259
— 1 005
-293
—716
-9,961
— 1,211
— 1,010
-320
—764
-28
-27
-24
-29
-9,271
— 1,221
—850
-277
—632
-23
-32
-30
-29
-28
-27
—10,269
—1 208
— 1 019
—310
—708
— 161
-175
— 167
-177
-168
-178
-169
-185
— 169
-182
— 182
-185
-186
-181
—185
-189
—98
—615
— 188
— 111
-752
— 191
— 105
—919
— 196
— 102
-983
—202
— 115
-998
—208
— 109
-942
—241
-105
-866
—285
— 111
-786
—290
-578
-881
-629
-833
-551
-694
-659
-609
—647
-870
-715
-747
-778
-796
-832
-849
-347
—201
-520
— 102
-248
-379
— 104
-232
-403
— 102
-242
-417
— 100
-261
-401
— 118
-277
-444
-122
-266
-471
-122
-256
—406
—632
—703
-459
—399
—350
-422
-420
—854
—943
—847
—845
68
—89
8
-830
-33
—868
-860
-50
—740
342
88
396
114
369
2
-1,664
327
34
-22
-32
331
-154
-28
-33
329
— 11
—1 517
—1 840
—1,288
—818
—1 918
—1,478
—930
—365
-1,004
—499
-903
—506
-435
-125
-1,279
—210
-1,233
19
-318
— 17
121
-97
—44
-149
-8G
-88
147
-13
-21
175
3,405
4,042
3,525
1,323
—75
98
-15
258
-18
246
173
-83
-6
164
365
101
80
21
152
396
232
113
128
491
304
122
100
7
2,950
3, 828
1,447
270
981
195
-19
17
433
-43
81
-240
-195
-180
1,587
-390
-125
-667
-208
-48
-299
-686
-154
56
-317
-1,226
-11
34
-29
-249
-36
171
63
-695
14
-227
150
-381
-120
135
1,864
-1,795
3,073
-154
-266
264
-44
-270
-73
-31
246
-228
-442
-233
1,083
-542
831
-253
217
Allocations of special drawing rights (SDR)
Errors and omissions, net
268
574
131
737
459
136
292
90
578
1,388
...
328
514
112
710
438
124
261
100
—11 673
-122
Foreign capital flows, net
U.S Government nonliquid liabilities to other than foreign official reserve agencies
59
60
61
62
15, 244
9,862
-82
72
_ _
__- ._
48
58
14, 649
123
—94
_
IV
9,581
—119
_..
III
14, 424
300
44
__
II
9,485
104
..-
I
14, 068
—99
U.S. Government capital flows, net
34
35
47
-
IV
7,486
517
226
_
III
11,836
1,212
_ _ _ _
...._.
29
33
...
_.
_ _ _ _
16
17
18
19
20
21
22
23
24
_ .
_
15
30
31
32
.
II
1970
-950
-530
-686
361
4
93
49
67
-886
-488
12
-196
-118
-105
-12
-28
-33
-129
-40
-64
36
1,007
1,655
-206
52
-30
-26
-2
372
40
—1,857
-1,014
-337
80
-495
-91
-64
-149
213
1,420
-261
245
720
299
211
22
190
792
325
423
-25
-1,080
-2,380
1,431
-233
-12
2,467
-188
735
805
584
824
395
34
406
422
-76
469
9
217
216
104
374
366
168
19
-985
667
-235
14
-254
818
227
217
-222
-251
-392
77
152
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. Includes interest, dividends, and branch earnings; 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 1962-63 and of liquid nonbanking claims for 1962
SURVEY OF CURRENT BUSINESS
June 1974
41
Transactions—Seasonally Adjusted—Continued
of dollars]
1<371
1<)72
1974
1973
Line
I
IV
III
II
I
IV
III
II
I
II
III
IV
IP
16,291
16,620
17,045
15,4%
17,265
17,212
18,323
19,618
22, 191
23,838
25,913
29,007
32,882
1
10, 857
498
598
153
817
516
157
320
110
10, 815
507
589
148
851
546
157
344
104
11, 519
489
604
147
864
523
156
368
104
9,563
419
655
167
745
576
156
392
88
11, 655
326
645
161
832
581
159
400
95
11, 534
281
672
171
857
592
163
405
102
12,357
252
690
170
886
608
168
406
107
13, 222
295
710
197
976
634
173
405
112
15, 228
342
818
237
993
679
178
412
110
16, 670
446
773
233
1,044
643
183
423
115
18, 143
520
842
259
1,083
788
187
433
156
20, 211
1,046
843
251
1,178
728
192
445
133
22, 299
672
964
293
1,211
738
195
456
113
2
3
4
5
6
7
8
9
10
1,404
646
215
1,714
615
230
1,419
640
212
1,848
655
232
1,509
672
230
1,607
635
193
1,796
693
190
2,013
697
184
2,194
774
226
2,210
882
216
2,323
973
206
2,688
1,112
180
4,446
1,256
239
11
12
13
14
786
789
677
952
1,141
923
1,188
936
693
833
758
487
391
-15,577
-16,660
-17,028
-16,356
-19,028
-18,934
-19,517
-20,948
-22,384
-23,719
-24,230
-26,073
-29,980
15
-10, 749
-1, 174
-1,064
-275
-755
-29
-27
-200
-173
-11, 699
-1,206
-1,064
-332
-795
-27
-29
-212
-188
-11, 912
-1, 203
-1,049
-315
-812
-30
-32
-219
-193
-11,116
-1,236
-1,134
-368
-716
-32
-35
-220
-191
-13, 482
-1, 222
-1,191
-377
-877
-38
-36
-223
-191
-13, 329
-1, 242
-1,212
-395
-830
-39
-35
-233
-202
-13, 953
-1, 109
-1,233
-401
-853
-14, 990
-1, 185
-1,308
-423
-922
-43
-35
-231
-193
-16, 190
-1, 175
-1,308
-432
-994
-56
-38
-236
-208
-17, 030
-1, 209
-1,392
-420
-1,019
-49
-42
-255
-203
-17, 541
-1, 067
-1,323
-400
-1,074
-46
-46
-264
-224
-18, 868
-1, 104
-1,384
-415
-1,103
-57
-49
-267
-224
-22, 198
-1, 138
-1,386
-420
-1,191
-60
-49
-274
-224
16
17
18
19
20
21
22
23
24
-193
-1,051
-1,001
-394
-1,029
-999
-796
-1,244
-1,000
25
26
27
-157
-638
-336
-146
-560
-402
-176
-573
-514
-142
-574
-592
-157
-598
-636
O<1
-35
-231
-201
-161
-615
-641
-155
-632
-680
-214
-677
-727
-113
-774
-860
-192
-932
-976
-786
-789
-677
-952
-1,141
-923
-1,188
-936
-693
-833
-758
-487
-391
28
-816
-881
-969
-981
-990
-954
-958
-896
-761
-1,056
-897
-1,164
9-2,930
29
-439
-124
-253
-486
-142
-253
-550
-138
-281
-568
-138
-275
-586
-142
-262
-558
-142
-254
-573
-121
-264
-457
-166
-273
-357
-172
-232
-645
-171
-240
-485
-179
-233
-447
-172
-545
9-2, 534
-107
-289
30
31
32
-573
-567
-388
-355
-213
-242
-525
-586
-588
-391
-604
-1,066
9 1, 296
33
-1,130
-16
-1,227
119
-895
30
-929
49
-794
43
-853
44
-978
24
-1, 195
56
-1, 197
-82
-1,235
-2
-1,187
36
-1,019
-561
-1,245
9-229
34
35
569
4
439
102
405
72
475
50
450
88
550
17
422
7
527
26
580
111
672
174
543
4
514
(*)
9 2, 770
(*)
36
37
-2,212
-2,209
-3,481
-2,217
-2,888
-655
-2,411
-2,786
-5,723
-2,020
-1,629
-4,728
-7,391
38
-1,255
-356
-1,843
-377
-1,450
-305
-895
71
-1,121
-437
-314
-346
-1,318
209
-765
-79
-1,815
51
-973
-124
-710
-209
-1,374
-525
-220
-647
39
40
15
-129
-132
-153
-227
22
-247
-841
-301
-227
-605
-155
-189
-440
-453
-346
235
301
-360
-275
-422
-412
-977
-168
-263
-1,644
-1,171
-317
-1,399
996
199
222
-456
-452
-1,119
-472
-192
-2,791
-2, 248
41
42
43
-33
-123
-199
1
-186
54
-37
-149
-151
-99
-72
-235
-74
-28
-146
-64
24
-145
20
-101
-164
-135
-200
-50
-142
-57
-682
-71
-59
-73
-150
-460
-65
-101
-664
-21
-125
-756
-412
44
45
46
2,857
5,028
8,559
6,085
4,431
4,068
6,260
6,402
11, 130
2,427
1,847
3,247
6,043
47
-69
-9
-211
-189
-96
137
155
42
217
485
206
204
55
48
124
559
203
-265
-152
-2, 627
1
196
45
-79
-61
-723
-425
626
-89
168
-71
-1,982
184
908
225
161
34
-1,359
-215
1,059
-59
45
200
779
216
961
208
42
83
1,318
158
718
260
-44
-73
309
224
1,769
185
178
-61
2,343
351
1,718
266
38
153
-1,588
588
489
15
1
78
1,074
886
1,173
312
335
28
837
712
670
-329
530
-7
4,113
1,127
696
-37
323
140
4,573
49
50
51
52
53
54
5,293
-201
-8
5,826
-160
-8
10, 725
-173
-9
5,772
-17
366
2,217
221
280
1,078
27
o
4,665
34
78
1,772
117
-167
8,816
1,202
-43
-729
259
167
-1,489
11
-452
-2, 145
-354
-147
-555
-277
-2
55
56
57
682
659
1,194
-187
429
-231
-55
-111
220
17
-13
-15
-210
58
109
-55
373
255
456
17
-66
252
300
-29
72
851
1
-182
2
-8
544
—178
64
-1
—171
-245
185
3
—177
134
-15
—177
82
8
-13
(*)
-15
-1
-209
59
60
61
62
180
179
179
179
178
178
177
177
-832
-2, 169
-5, 111
-1,664
816
-442
-1,294
-870
904
-387
792
290
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,
private corporations, and State and local governments.
8. Includes return import into the United States, at a depreciated value of $21 million in
-16
9
233
-13
(*)
63
-4,085
64
1972-IV and $22 million in 1973-11, of aircraft originally reported in 1970-III in line 3 as a
long-term lease to Australia.
9. Includes extraordinary U.S. Government transactions with India. See "Special U.S.
Government Transactions" in text of article.
Source: U.S. Department of Commerce, Bureau of Economic Analysis.
SUEVEY OF CUKEENT BUSINESS
42
June 1974
Table 4.—U.S
[Millions
1962
1963
1964
1965
1966
1967
1968
1969
1970
1971
1972
1973
1
1 Merchandise exports, Census basis, including reexports and military grant
shipments
_ _ _ _ _
21,713
23,387
26, 649
27,521
30,430
31, 622
34, 636
38,006
43, 224
44 130
49,778
71,314
Merchandise exports, Census basis, including reexports, excluding military
grant shipments
20,986
22,467
25,831
26, 742
29,490
31,030
34,063
37,332
42 659
43,549
49 219
70, 798
240
51
246
44
245
45
266
45
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
364
77
26
3
242
16
360
83
17
4
248
8
431
75
26
25
275
30
463
87
25
28
331
—8
624
91
65
50
404
14
Line
EXPORTS
2
3
3a
3b
3c
3d
3e
4
Regular additions to Census exports
Private gift parcel remittances
Virgin Islands exports to foreign countries
Gold exports, nonmonetarv
Inland freight (to Canada)
valuation adjustment
Other regular additions 2
_ __
Regular deductions from C ensus exports 3
40
42
37
23
25
29
31
31
28
27
30
34
-77
—4
-118
97
73
43
157
-58
65
-8
-44
141
Equals: Merchandise exports adjusted to balance of payments basis, including "military"
21, 109
22, 667
25, 921
27,082
29, 806
31, 370
34,540
37, 607
43, 056
43, 945
49, 608
71,529
7
Less: Merchandise exports transferred under U.S. military agency sales
contracts identified in Census documents "
328
395
420
621
496
704
914
1,193
1,109
1,191
840
1,277
8
Equals: Merchandise exports, adjusted to balance of payments basis, excluding "military" (table 2, line 2)
20,781
22,272
25,501
26,461
29,310
30,666
33,626
36,414
41,947
42,754
48,768
70,252
g
IVferchandise imports Census basis 1 (general imports)
16, 462
17 205
18, 749
21 428
25, 618
26, 889
33 226
36, 043
39, 952
45,563
55,583
69, 121
848
423
358
67
1,090
641
359
90
5
5a
Special adjustments net*
-- _ _ _ _ _ _
Of which* quarterly allocation of annual seasonal adjustment discrepancy *_
6
IMPORTS
10a
lOb
lOc
Regular additions to Census imports
Virgin Islands imports from foreign countries
Gold imports, nonmonetary
._
Other regular additions7
11
lla
lib
Regular deductions from Census imports
Automotive valuation adjustment
Other regular deductions 8
12
12a
10
-
_
- --
116
21
80
15
116
22
79
15
144
27
100
17
188
44
130
14
213
43
155
15
259
68
176
15
332
108
211
13
406
168
221
17
437
242
162
33
651
386
221
44
8
8
7
8
8
7
19
17
2
78
75
3
168
162
6
304
300
4
357
354
3
403
398
5
561
557
4
635
633
2
665
661
4
Special adjustments net*
- Of which * quarterly allocation of annual seasonal adjustment discrepancy 6
66
67
55
99
-43
87
—14
-48
—19
8
147
369
13
Equals: Merchandise imports, adjusted to balance of payments basis, including "military"
- - -
16,636
17,380
18, 941
21, 696
25,710
27, 067
33,240
36,044
39, 967
45, 661
55,943
69,915
14
Less: Merchandise
imports of U.S. military agencies identified in Census
documents 8
- -
376
332
241
186
217
201
249
237
179
185
189
286
15
Equals: Merchandise imports, adjusted to balance of payments basis excluding "military" (table 2, line 16)
-
16,260
17, 048
18,700
21, 510
25,493
26,866
32,991
35,807
39, 788
45,476
55,754
69,629
16
Balance on merchandise trade, adjusted to balance of payments basis, including "military" (line 6 less line 13) (export surplus +)
4 473
5 287
6,980
5,386
4,096
4,303
1,300
1,563
3,089 -1,716 -6,335
1,614
17
Balance on merchandise trade, adjusted to balance of payments basis, excluding "military" (line 8 less line 15) (export surplus -{-)
4 521
5 224
6 801
4 951
3 817
3,800
635
607
2,159 -2,722 -6,986
623
Merchandise exports, Census basis,1 including military grant shipments (line
1)
21,713
23, 387
26, 649
27, 521
30, 430
31, 622
34, 636
38,006
43,224
44, 130
49, 778
71,314
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
9,505
40, 273
39, 714
17, 856
53,458
52,942
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
3,504
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
7,489
4,054
1,508
1,926
15,070
9,696
2,757
2,617
7,132
832
7,822
1,000
9,185
962
8,917
984
9,613
1,020
9,971
1,150
11,004
1,081
11, 776
1,220
13, 782
1,701
12,691
1,700
13,980
1,706
19, 773
1,926
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
1,034
440
482
2,200
2,070
722
1,032
470
498
2,313
2,073
828
1,022
466
524
2,764
2,266
906
923
286
540
2,741
2,405
1,139
1,051
378
488
3,052
2,646
1,089
1,303
589
462
2,984
2,707
1,152
1,386
508
639
3,227
3,303
1,458
2,305
940
681
4,494
4,694
220
561
715
255
629
761
333
781
1,049
283
759
1,029
271
699
1,173
324
702
1,156
275
741
1,503
371
1,127
1,543
547
1,388
1,769
263
953
1,230
281
990
1,295
645
1,554
2,016
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
265
385
331
7,463
6,399
1,179
5,220
1,255
629
2,148
348
467
375
8,039
6,796
1,145
5,651
1,308
634
2,373
434
542
359
8,892
7,527
1,279
6,248
1,335
677
2,693
446
660
437
9,913
8,115
1,426
6,689
1,396
673
2,886
448
842
445
11,072
8,642
1,557
7,085
1,526
709
3,062
412
900
476
12,346
9,991
1,856
8,136
1,680
770
3,443
418
1,225
599
14,371
11, 570
2,077
9,493
1,963
907
3,870
358
1,702
693
15, 119
11, 593
2,110
9,482
1,888
886
3,925
361
1,701
722
16,690
13, 135
2,543
10, 592
2,133
963
4,316
485
1,838
857
21,519
17,047
3,521
13,526
2,787
1,326
5,284
663
2,367
1,099
_ _ _.
-
BALANCE
TRADE BY END-USE
18
18a
18b
18c
Agricultural products
Nonagricultural products
Excluding military grant shipments
19
20
21
22
Foods, feeds, and beverages
Grains and preparations
Soybeans
Other foods, feeds, and beverages
23
24
Industrial supplies and llmaterials ^
Fuels and lubricants
_
25
26
27
28
29
30
Paper and paper base stocks
Textile supplies and materials
-_
_
Raw cotton, including linters
Tobacco, unmanufactured
Chemicals, excluding medicinal s
Other nonmetals (hides, tallow, minerals, wood, rubber, tires, etc.)
31
32
33
Steelmaking materials
Iron and steel products
j
Other metals primary and advanced including advanced steel 10
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 nonfann tractors and parts
Textile and other specialized industry-machinery and parts
Other industrial machinery and parts, n e e
Agricultural machinery and farm tractors and parts
Business and office machines computers etc and parts
Scientific, professional, and service-industry equipment
SUKVEY OF CURRENT BUSINESS
June 1974
43
Merchandise Trade
of dollars]
Not seasonally adjusted
1972
Seasonally adjusted
1972
1974
1973
I
II
III
IV
I
12,026
12, 178
11,729
13,845
15,652
17,554
17,227
20,881
22,761
11,903
11,890
12,040
11,574
13,715
15,520
17,439
17,073
20,766
22,649
117
21
8
5
76
7
116
22
4
4
87
-1
119
21
7
10
80
1
111
23
6
9
88
-15
137
20
12
8
90
7
172
23
18
13
107
11
118
22
17
14
95
-30
197
26
18
15
112
26
219
22
10
37
123
27
II
III
I
IP
IV
I
II
Lino
III
IV
16,889
18,472
20,523
22,502
1
15,334
16,774
18,318
20,408
22,390
2
140
20
12
8
93
7
164
23
18
13
99
11
124
22
17
14
101
-30
196
26
18
15
111
26
223
22
10
37
127
27
3a
3b
3c
3d
3e
III
IV
11,812
12, 602
13,477
15,466
11,767
11,673
12,447
13,347
119
21
8
5
78
7
109
22
4
4
80
-1
124
21
7
10
85
1
111
23
6
9
88
-15
II
1974
1973
IP
3
8
8
7
7
6
9
11
8
8
8
8
7
7
6
9
11
8
8
4
-3
-28
-6
-7
-35
38
18
120
44
-7
—4
-32
—4
-10
—4
-10
—3
-44
—9
29
9
—9
111
—9
44
5
5a
Q
11,996
12,120
11,680
13,812
15,616
17,640
17, 198
21,075
22,904
11,871
11,742
12,554
13,441
15,424
16,958
18,440
20,707
22,649
6
216
208
197
219
196
288
297
496
350
216
208
197
219
196
288
297
496
350
7
11,780
11,912
11,483
13,593
15,420
17,352
16,901
20,579
22,554
11,655
11,534
12,357
13,222
15,228
16,670
18, 143
20,211
22,299
8
13,302
13,743
13,532
15,006
15,965
17,283
16,935
18,938
21, 165
13,424
13,370
13,903
14,888
16, 136
16,821
17,434
18,680
21,705
9
191
117
62
12
186
89
79
18
259
139
101
19
212
78
116
18
262
161
79
22
284
150
110
24
252
146
83
23
292
184
87
21
523
378
120
25
191
117
62
12
186
89
79
18
259
139
101
19
212
78
116
18
262
161
79
22
284
150
110
24
252
146
83
23
292
184
87
21
523
378
120
25
10
lOa
lOb
lOc
150
149
1
188
187
1
113
113
(*)
184
184
(*)
190
189
1
212
211
1
118
116
2
145
145
(*)
159
157
2
141
140
1
162
161
1
166
166
(*)
166
166
(*)
189
188
1
182
181
1
164
162
2
130
130
(*)
162
160
2
11
lla
lib
39
-29
3
134
40
177
70
82
185
39
-29
3
132
_2
52
12
189
12
82
12
96
14
185
12
12a
13,382
13,712
13, 681 15,168
16,077
17,532
17,139
19,167
21,714
13,513
13,365
13,999
15,066
16,261
17,112
17, 604
18,938
22,251
13
31
36
76
71
82
63
70
53
31
36
46
76
71
82
63
70
53
14
13,351
13,676
13, 635 15,092
16,006
17,450
17,076
19,097
21,661
13,482
13,329
13,953
14,990
16,190
17,030
17,541
18,868
22,198
15
-1,386 -1,592 -2,001 -1,356
-461
108
59
1,908
1,190
-1,642
-1,623
-1,445
-1,625
-837
-154
836
1,769
398
16
-1,571 -1,764 -2,152 -1,499
-586
-98
-175
1,482
893
-1,827
-1,795
-1,596
-1,768
-962
-360
602
1,343
101
17
46
12, 178 11,729
13,845
15,652
17,554
17,227
20,881
22,761
11,903
11,812
12,602
13,477
15,466
16,889
18,472
20,523
22,502
2,178
9,848
9,712
2,107
10, 072
9,933
2,096
9,633
9,478
3,124
10, 721
10, 591
3,764
11, 888
11, 756
4,043
13, 511
13, 396
4,200
13, 027
12, 873
5,849
15, 032
14, 917
5,918
16, 843
16, 731
2,199
9,704
9,568
2,178
9,634
9,495
2,384
10, 218
10,063
2,693
10, 784
10,654
3,660
11, 806
11, 674
4,097
12, 792
12, 677
4,768
13,704
13,550
5,244
15, 279
15,164
5,878
16, 624
16, 512
1,554
769
348
437
1,725
886
342
497
1,728
1,049
231
448
2,481
1,350
587
544
2,991
1,749
744
498
3,386
2,032
725
629
3,664
2,785
255
624
5,031
3,131
1,033
867
4,845
3,006
1,082
757
1,580
760
356
464
1,784
949
346
489
1,933
1,087
357
489
2,126
1,226
421
479
2,981
1,736
705
540
3,429
2,114
706
609
4,014
2,914
417
683
4,523
2,943
811
769
4,960
3,079
1,040
841
18
18a
18b
18c
19
20
21
22
3,485
403
3,278
428
3,351
425
3,862
450
4,260
379
4,786
468
4,978
487
5,745
592
6,676
523
3,546
456
3,199
401
3,462
418
3,815
439
4,265
427
4,655
432
5,207
492
5,700
572
6,636
583
23
24
267
405
192
217
808
772
299
310
99
93
761
779
284
250
42
135
793
816
302
419
174
194
866
934
311
560
293
145
946
1,092
358
571
247
140
1,071
1,196
365
510
161
151
1,165
1,122
425
663
239
245
1,307
1,287
510
952
475
170
1,646
1,455
273
344
139
300
799
747
286
294
93
113
725
789
288
299
71
142
814
856
304
440
183
127
895
903
318
467
204
178
957
1,063
338
546
240
167
1,023
1,206
375
664
288
165
1,177
1,182
432
665
241
172
1,340
1,248
519
805
338
189
1,659
1,427
25
26
27
28
29
30
47
247
318
61
240
307
81
250
317
91
253
353
127
309
391
165
375
442
215
378
585
138
491
597
193
581
646
59
250
318
56
228
307
71
257
317
95
259
353
157
307
391
149
352
442
182
385
585
155
519
597
235
573
646
31
32
33
4,259
3,237
629
2,608
517
244
1,081
113
452
201
4,197
3,299
621
2,678
561
229
1,076
137
453
222
3,878
3,136
605
2,531
514
229
1,035
115
434
204
4,357
3,463
687
2,776
541
261
1,124
120
500
230
4,967
3,855
787
3,068
637
287
1,204
163
529
248
5,456
4,241
871
3,370
721
324
1,284
193
572
276
5,155
4,209
864
3,345
698
326
1,314
152
585
270
5,939
4,740
999
3,741
731
389
1,481
154
681
305
6,786
5,261
1,152
4,109
803
419
1,616
200
726
345
4,100
3,156
617
2,539
514
250
1,042
106
435
192
4,029
3,158
592
2,566
530
221
1,039
118
452
206
4,161
3,325
647
2,678
532
240
1,087
127
473
219
4,412
3,500
686
2,814
558
254
1,148
134
478
242
4,819
3,777
769
3,008
636
289
1,173
156
514
240
5,166
4,000
826
3,174
661
309
1,226
163
560
255
5,514
4,463
922
3,541
721
342
1,390
167
632
289
6,104
4,866
1,017
3,849
782
387
1,512
180
669
319
6,524
5,098
1,114
3,984
791
418
1,557
189
698
331
34
35
36
37
38
39
40
41
42
43
12,026
SURVEY OF CURRENT BUSINESS
44
June 1974
Table 4.—U.S. Merchandise
[Millions
1962
Line
1963
1964
1965
1966
1967
1968
1969
1970
1971
1972
1973
1 614
2 327
1,405
2 235
1 266
2 660
1 528
3 282
1,918
3 216
1 707
4 073
2 315
TRADE BY END-USE-Con.
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
52
53
54
Consumer goods (nonfood), except automotive.
Consumer durables, manufactured
Consumer nondurables, manufactured
Unmanufactured consumer goods (gem stones, precious and nonprecious).
55
56
Special category (military-type goods)
57
58
59
Exports, n.e.c., and reexports
Domestic (low-value,
miscellaneous)
Foreign (reexports)13
..
Merchandise imports, Census basis (line 9 )
61
62
63
64
65
Foods, feeds, and beverages
Coffee, cocoa, a n d sugar
_ _ _ .
Green coffee
Cane sugar
Other foods, feeds, and beverages.
]0
Industrial supplies and llmaterials
Fuels and lubricants 13 _ _ . _
Petroleum and products
. _.
_ __
...
_.._..
60
66
67
67a
_ ._
90
91
92
93
94
95
96
Civilian aircraft, engines, parts
Civilian aircraft complete all types
1,301
1,468
1,729
1,929
1 092
1 062
2,354
1,270
1 084
2,784
1,755
1 029
357
358
403
336
3,453
2,378
1 075
3,888
2,736
1 152
1,023
3,652
2,474
1 178
4,396
3,210
1 186
1 183
5,119
3,901
1 218
1 322
6 312
4,685
1 627
1 799
1,015
1,191
1,412
1,548
2,038
2,334
2,255
2,612
3,112
3,661
1,751
1,799
2,035
2,111
2,334
47
1 054
47
1,162
63
1,222
65
1,344
99
2,576
1,020
1,429
128
2,719
1 009
1,587
123
2,847
1,086
1,629
133
3,492
1 448
1,859
185
4,702
2 024
2,345
333
_
-_
..
_
.
. _ .
1,455
570
866
1,558
603
914
19
41
637
706
998
867
698
576
367
809
824
413
825
982
432
890
120
531
141
837
560
245
601
339
686
398
852
1,249
1,103
1,110
1,645
1,359
1,490
1,199
1,584
680
337
343
798
363
436
743
359
384
851
414
437
1,087
1,503
1,533
1,808
1,008
800
2,352
1,261
1,091
. _ _ . 16, 453
17, 205
18, 749
21,520
25, 618
26,889
33, 226
36, 043
39, 952
45, 563
55,583
69, 121
3,573
1,621
3,753
1,701
3,915
1,786
1,197
3,946
1,625
1,062
4,499
1,691
1,067
4,586
1,698
5,271
1,916
1,140
5,239
1,700
6,154
2,085
1,159
6,366
2,111
1,167
7,265
2,165
1,182
9,081
2,696
1,566
543
544
869
634
895
638
501
963
588
640
894
638
764
832
.
1,952
2,053
2,129
2,321
2,808
2,888
3,355
3,538
4,069
4,255
5,101
6,386
.. .. .
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
3,035
2,760
16,965
3,762
3,318
20, 322
4,882
4,2D5
26,541
8,218
7,540
1 144
1,923
1 130
2,032
1,043
1 227
2,084
1,009
1 301
2,358
1,162
1,440
2,644
1,243
1,386
2,371
1,015
1,431
2,749
1,180
1,595
2,658
1,142
1,578
2,896
1,209
1,651
3, 153
1,411
1,758
3,703
1,538
2,126
4,123
1,583
1,130
878
1,334
1,019
__
_- - .
986
503
973
107
329
513
.
615
2,985
502
537
__ _
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 value, goods returned, military aircraft, movies,
exhibits)
.. .. ...
.
__ _
955
611
113
326
550
660
3 121
494
692
458
142
363
570
705
3 533
602
825
443
122
445
639
722
4,421
679
137
573
691
162
584
610
681
1,347
1 433
1,272
1,808
1,312
2,229
661
749
758
681
168
512
823
798
181
618
1,039
1,020
1,490
1,389
2,163
1,950
2,412
2,282
120
133
190
1,087
247
1,474
341
1,747
378
144
177
244
191
84
368
513
179
77
680
154
621
152
62
588
642
203
817
301
477
247
110
329
151
116
139
52
108
78
25
20
102
212
67
153
521
9
9
512
433
17
71
586
29
29
557
467
23
96
767
102
102
665
593
24
151
907
214
197
693
670
44
193
1,883
2,276
1,261
2,389
1,266
811
249
844
280
2,694
1,379
3,305
1,732
1,191
3,912
2,108
1,349
381
455
500
591
791
959
33
v 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 1962 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 61-101.
1
2
991
324
660
889
814
994
1,244
174
465
1,001
6,576
1,334
7,055
1,959
8,023
2,429
9,645
2,123
2,731
869
1,914
2,360
1,020
2,191
2,650
1,030
2,871
2,406
1,074
3,071
2,910
1,284
3,189
3,706
1,789
2,819
2,631
3,244
3,067
1,949
460
2,250
502
3,816
3,623
1,017
2,603
566
4,127
3,900
1,157
2,742
692
5,572
5,135
1,588
3,548
908
7,529
6,945
2,395
4,550
1,031
750
849
971
916
1,144
1,538
178
212
1,422
2,259
754
5,106
758
1,187
5,920
1,072
6 393
784
744
535
668
682
239
239
188
177
191
110
48
4,256
2,579
2,279
1,677
2,796
5,288
3,436
3,082
1,853
3,355
479
981
2,604
1,569
1,407
1,035
1,701
467
1,212
714
354
531
129
4,213
2,190
1,556
817
705
359
471
337
225
301
602
628
347
339
352
183
59
918
89
955
698
117
709
691
5,047
725
111
836
710
148
689
732
1,324
40
Automotive vehicles parts, and engines 14
From Canada
_
From Canada transactions value
From all other areas
Passenger cars new and used
Trucks buses and special vehicles
Parts bodies and accessories, including engines and parts, n.e.s
529
939
295
310
864
103
1,229
.
_ _ _ _ _
469
832
272
265
764
790
184
723
370
352
Capital goods, except automotive
_ _ _ _ _
_ _
Machinery, except consumer-type
... . _ . _ _
__ __
Electrical and electronic, and parts and attachments
Nonelectrical, and parts and attachments _ _ _
__
_ ._
Construction, textile and other specialized-industry machinery and
nonfarm tractors and parts.
Other industrial machinery and parts, 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.
89
553
141
951
80
81
82
83
89a
1 224
478
167
629
344
285
Building materials, except metals _ _ _ _
__
_-__-._ _ _
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.) - ._. .
88
1 077
1,025
74
75
76
77
78
79
86
87
912
287
152
971
Paper and paper base stocks
Materials associated with nondurable goods and farm output, n.e.s
Textile supplies and materials
.._
_
_.._..
Tobacco unmanufactured
Chemicals, excluding medicinal
._ ..
._
Other (hides, copra, materials for making photos, drugs, dyes)..
85
919
248
163
583
314
269
68
69
70
71
72
73
84
323
179
1 043
__ _
157
759
497
662
187
961
667
865
337
449
227
437
585
58
76
5,894
3,525
3,127
2,369
3,710
7,917
4,532
3,975
3,385
5,091
1,228
1,464
1,991
9,327
5,259
4,626
4,068
5,730
1,129
2,468
10,848
5,880
5,219
4,968
6,488
1,283
3,076
5,375
2,799
2,009
6,616
3,535
2,480
7,553
4,068
2,960
8,561
4,682
3,315
601
563
762
13, 132
7,376
4,762
525
11,355
6,469
4,123
1,346
1,471
1,400
1,627
1,742
1,989
109
567
705
720
40
835
994
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 incuded in table 2: line 3: "Transfers under U.S. military agency sales
contracts."
SURVEY OF CUERENT BUSINESS
June 1974
45
Trade—Continued
of dollars]
Not seasonally adjusted
1972
I
II
Seasonally adjusted
1973
III
IV
I
II
1974
III
IV
IP
1972
I
II
1974
1973
III
I
IV
II
III
IV
IP
Line
956
584
66
822
452
76
631
269
111
807
402
87
1,031
624
81
1,094
665
121
870
425
76
1,078
601
121
1,402
881
124
873
530
71
802
446
69
718
334
118
830
422
82
951
558
91
1,062
652
104
965
501
86
1,123
635
115
1,286
770
140
44
44a
45
1,209
900
309
287
157
765
1,332
1,049
283
344
174
814
1,148
874
274
274
156
718
1,432
1,077
355
418
199
815
1,569
1,194
375
429
214
926
1,681
1,299
382
479
217
985
1,314
924
390
333
190
791
1,748
1, 267
481
558
231
959
1,877
1,357
520
542
291
1,044
1,155
853
302
270
154
731
1,200
914
286
305
161
734
1,370
1,077
293
367
173
830
1,423
1,085
338
388
200
835
1,516
1,149
367
415
212
889
1,499
1,114
385
417
200
882
1,547
1,129
418
441
207
899
1,761
1,305
456
527
234
1,000
1,794
1,289
505
515
287
992
46
47
48
49
50
51
832
340
452
863
363
454
863
349
470
935
397
484
1,031
429
527
1,224
522
601
1,173
495
582
1,274
578
635
1,480
644
729
829
339
452
845
347
454
894
374
470
925
389
484
1,031
432
527
1,179
488
601
1,218
530
582
1,277
576
635
1,473
642
729
52
53
54
40
46
44
54
75
101
96
61
107
38
44
50
52
72
90
106
66
102
55
315
309
291
329
392
368
495
430
284
315
309
291
329
392
368
495
430
56
504
270
234
629
325
304
573
309
264
646
357
289
667
381
286
409
237
172
440
244
196
473
264
209
485
267
218
524
275
249
569
304
265
605
321
284
663
365
298
685
384
301
57
58
59
284
402
237
165
466
252
214
451
253
198
487
266
221
13,302
13,743
13,532
15,006
15,965
17,283
16,935
18,938
21,165
13,424
13,370
13,903
14,888
16,136
16,821
17,434
18,680
21,705
60
1,763
564
309
205
1,199
1,737
503
235
228
1,234
1,803
564
321
221
1,239
1,960
531
316
177
1,429
2,030
659
396
193
1,371
2,292
748
452
235
1,544
2,170
634
347
256
1,536
2,589
655
371
234
1,934
2,677
888
512
276
1,789
1,876
610
309
263
1,266
1,705
489
235
210
1,216
1,810
536
321
190
1,274
1,888
540
316
184
1,348
2,133
676
396
225
1,457
2,236
728
452
215
1,508
2,194
610
347
225
1,584
2,505
684
371
258
1,821
2,850
912
512
321
1,938
61
62
63
64
65
4,789
1,220
1,071
4,980
1,125
976
5,030
1,208
1,073
5,522
1,330
1,175
5,991
1,655
1,492
6,361
1,758
1,596
6,529
2,052
1,891
7,661
2,753
2,561
9,732
4,707
4,438
4,801
1,099
959
4,850
1,188
1,031
5,137
1,281
1,134
5,540
1,316
1,175
6,053
1,537
1,392
6,227
1,838
1,682
6,686
2,132
1,947
7,582
2,722
2,522
10,038
4,769
4,516
66
67
67a
421
983
403
53
290
237
443
932
373
45
292
222
427
859
379
19
266
195
465
927
382
40
282
223
526
1,050
426
57
321
256
546
1,053
408
46
345
254
478
970
383
37
311
239
576
1,042
367
47
357
271
674
1,172
389
61
423
299
425
917
381
32
274
230
435
873
356
34
266
217
449
930
394
36
289
211
445
992
408
62
305
217
536
1,002
410
36
311
245
529
991
395
39
313
244
507
1,053
392
62
337
262
547
1,092
381
68
375
268
694
1,124
380
40
415
289
68
69
70
71
72
73
419
1,746
117
586
705
338
481
1,999
187
717
777
318
509
2,027
227
838
657
305
550
2,250
228
929
770
323
605
2,145
148
738
878
381
697
2,307
247
789
832
439
576
2,453
286
813
892
462
551
2,739
280
850
1,103
506
486
2,692
188
747
1,230
528
446
1,914
187
677
712
338
449
1,905
172
689
726
318
493
1,984
188
799
692
305
573
2,214
213
903
775
323
643
2,335
233
857
864
381
642
2,227
226
769
793
439
565
2,429
233
778
950
462
573
2,648
259
785
1,098
508
522
2,929
299
879
1,223
528
74
75
76
77
78
79
1,370
1,282
360
922
240
1,396
1,286
384
902
229
1,321
1,223
400
823
215
1,482
1,342
444
898
223
1,698
1,550
513
1,037
241
1,913
1,775
594
1,181
275
1,915
1,756
617
1,139
257
2,002
1,863
672
1,191
257
2,080
1,927
720
1,207
251
1,345
1,257
360
897
240
1,369
1,259
384
875
229
1,354
1,256
400
858
215
1,505
1,365
444
921
223
1,671
1,523
513
1,010
241
1,877
1,739
594
1,145
275
1,961
1,802
617
1,185
257
2,031
1,892
672
1,220
257
2,052
1,899
720
1,179
251
80
81
82
83
84
282
133
189
78
283
139
171
80
275
109
139
85
303
117
163
92
349
153
195
99
383
188
219
116
391
149
223
119
415
176
228
115
432
181
230
113
282
112
185
78
283
121
162
80
275
127
154
85
303
144
159
92
349
135
186
99
383
163
208
116
391
173
245
119
415
205
228
115
432
161
222
113
85
86
87
88
88
16
110
13
98
14
140
15
148
21
138
17
159
22
139
15
153
14
88
16
110
13
98
14
140
15
148
21
138
17
159
22
139
15
153
14
89
89a
2,339
1,286
1,137
1,053
1,510
225
604
2,508
1,467
1,280
1,041
1,582
302
624
1,907
993
880
914
1,083
269
555
2,574
1,514
1,330
1,060
1,556
334
684
2,752
1,548
1,359
1,204
1,705
294
753
3,016
1,680
1,469
1,336
1,851
358
807
2,287
1,128
1,012
1,159
1,300
291
696
2,792
1,524
1,379
1,268
1,633
340
819
3,080
1,350
1,573
2,029
343
709
2,210
1,241
1,101
969
1,404
225
581
2,309
1,316
1,155
993
1,408
302
599
2,274
1,261
1,095
1,013
1,374
269
631
2,523
1,431
1,265
1,092
1,532
334
657
2,613
1,488
1,300
1,125
1,590
294
729
2,759
1,503
1,322
1,256
1,640
358
761
2,726
1,427
1,265
1,299
1,649
291
786
2,732
1,449
1,319
1,283
1,599
340
793
2,952
1,463
1,303
1,489
1,909
343
700
90
91
92
93
94
95
96
2,636
1,471
989
176
2,701
1,571
945
185
3,036
1,693
1,154
189
2,982
1,735
1,035
212
2,984
1,623
1,126
235
3,220
1,825
1,133
262
3,534
1,968
1,299
267
3,395
1,960
1,205
230
3,095
1,772
1,107
215
2,780
1,568
1,036
176
2,717
1,574
958
185
2,889
1,654
1,046
189
2,962
1,666
1,084
212
3,154
1,748
1,171
235
3,238
1,830
1,146
262
3,362
1,900
1,195
267
3,346
1,874
1,242
230
3,306
1,928
1,163
215
97
98
99
100
402
421
435
484
511
479
499
499
501
412
420
439
470
512
483
505
484
507
101
1,507
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.
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
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, combined with some degree of unreported export shipments,
results in an undercounting of automotive exports to Canada (line 47) which-^-estimated
from examination of Canada's import statistics—amounted to about $875 million in 1973
and $550 million annually in 1972 and 1971, and $440 million in 1970.
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
46
June 1974
Table 5.—Major U.S. Government Transactions
[Millions of dollars]
Line
A.I
la
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
B.I
la
9
2a
3
4
5
g
7
8
q
10
10a
11
lla
12
13
14
15
16
17
17a
18
19
20
21
21 a
22
23
24
U.S. Government grants (excluding military) and capital flows increasing
Government assets, total (table 2, lines 30, 34, and 35, with sign reversed)
Seasonally adjusted
._
_. . . _ _
By category
Grants, net
Credits repayable in foreign currencies _
Other foreign currency assets (excluding administrative cash holdings), net.
Receipts from —
Sales of agricultural commodities
Interest
Repayments of principal
__
Reverse grants
Other sources
Less disbursements for—
Grants in the recipient's currency
Credits in the recipient's currency
Other grants and credits
_ _ _ _
Other U S Government expenditures
Capital subscriptions and contributions to International and regional
organizations excluding IMF
Credits repayable in U S dollars
Other assets (including changes in administrative cash holdings), net
By program
Under farm product disposal programs
Under Foreign Assistance Acts and related programs
Under Export-Import Bank A c t - _ _ _ _ _ _ _ _ _ _ _ _ _ _
Capital subscriptions and contributions to international and regional
organizations, excluding IMF
O th er assistance programs
Other foreign currency assets acquired (lines A. 6, A. 7, and A. 9). _ ._ . _ _
Less foreign currencies used by U.S. Government other than for grants or
credits (line A 13)
Advance^ under Exchange Stabilization Fund agreements net
Other (including changes in administrative cash holdings), net
By disposition *
Estimated transactions involving no direct dollar outflow from the United
States
_ .
Expenditures on U.S. merchandise
.Expenditures on U S. services 2
Military sales contracts financed by U.S. Government credits 3 - 4 (line
B.14)
U.S. Government credits 3to repay prior U.S. Government credits 2
U.S. Government credits to repay prior U.S. private credits _
Increase in claims on U.S. Government associated with Government
grants and capital flows increasing Government assets (including
changes in retained accounts) (line B.17)
Less foreign currencies used by U.S. Government other than for grants
or credits (line A. 13)
.._
__
_
Less dollar recoveries on short-term claims financing military sales
contracts and U.S. Government credits to repay private credits 3
Estimated dollar payments to foreign countries and international and
regional organizations through U.S. Government grants and capital
flows increasing Government assets ..
_.
_
Nonliquid liabilities reported by U.S. Government, including medium-term
securities and long-term obligations payable prior to maturity only under
special conditions, net increase (+)
Seasonally adjusted
To foreign official reserve agencies (table 2, line 57)
Seasonally adjusted
U.S. Treasury securities issued in connection with Columbia River
U.S. Treasury securities issued in connection with prepayments for
-J-. Q _, y P
...
.
, ,
ij ml j(j&tpd
o-flinst U S~rifl'~ms
U S Treasury securities not included elsewhere ^
Ex port -Import Bank securities not included elsewhere
Other
To other official and private foreigners (table 2, line 48)
Seasonally adjusted
Associated with military sales contracts 6 _ _
-.-.
Seasonally adjusted
U.S. Government cash receipts from foreign governments (including
principal repayments
on credits financing military sales contracts) net
of refunds 7
Less U.S. Treasury securities issued in connection with prepayments for
Plus military sales contracts financed by U.S. Government credits 3 - 8
(line A. 29)
Less U.S. Government receipts from principal repayments 3
Less transfers of goods and services (including transfers financed by
credits) (table 2, line 3)
.
._
Associated with U.S.
Government grants and capital flows increasing
Government assets 9 (line A. 32)
Seasonally adjusted
.
.
Non-interest-bearing securities issued to IDA, to IDS, or to U.N. for
Foreign funds retained in U.S. Government accounts for purchases in
the United States
Other
Other
Seasonally adjusted
\jv ii ail vjoveruiiieiii/ lu year iodn w u .0. vwveni ^ ut
1973
I
II
III
IV
1,401
1 337
1,538
1 367
1,341
1 527
1,548
1 596
1,701
1 636
435
86
375
68
6,041
5,828
7,180
2 043
2 173
1,933
307
605
20
-181
-144
598
23
536
25
8
-38
20
-69
164
75
5
42
32
(*)
157
155
I
II
2,053
/ 882
1974
III
IV
1,447
1 636
1,979
2 027
4,076
4 008
425
96
2 552
685
80
449
63
-57
29
-18
-19
1
3
2
IP
163
145
16
(*)
(*)
(*)
182
157
1
8
182
251
1
13
169
344
2
15
47
46
(*)
3
41
47
(*)
3
40
42
(*)
6
54
116
(*)
2
39
107
2
2
45
99
(*)
4
37
82
(*)
8
48
57
(*)
1
246
128
8
310
264
53
9
340
192
15
5
315
79
15
5
78
9
11
2
82
57
6
1
94
120
21
2
86
43
3
3
75
79
6
1
81
49
5
(*)
92
21
1
1
67
44
839
-70
69
861
-32
48
733
68
110
948
27
1,134
76
103
853
—2
i°566
264
616
396
437
642
311
208
557
265
297
437
327
290
477
456
298
705
467
129
188
517 1° 1,104
472
441
69
110
92
48
215
88
110
263
172
90
317
148
76
401
147
103
201
127
104
128
106
82
94
86
75
81
92
67
63
246
271
373
3,777
-i
3,381
-8
3,945
10615
1,149
2,629
1,426
1,206
2,252
1,299
02,803
1,835
246
558
347
271
721
446
1,046
528
44
133
95
310
340
315
78
904
373
-3
-28
6
-70
-40
54
28
5,124
3,173
4,718
2,973
6,176
3,378
1,187
1,294
1,002
820
758
832
236
838
238
554
181
1,235
919
607
495
75
164
117
139
287
580
01,211
348
919
47
140
48
89
50
197
409
432
90
6
(*)
1,571
952
172
749
165
1,184
45
50
2,216
2
2
2 061
1
1
63
97
104
773
1,077
1042
293
10729
682
97
115
2,268
41
-10
-24
-46
1,717
1,212
1,676
3,761
1,026
82
141
10716
57
80
10277
2,288
79
922
209
115
223
142
155
107
331
102
367
715
233
157
789
144
208
26
37
-36
9
13
7
9
-2
-11
-17
-7
310
340
315
78
82
94
86
75
81
92
67
63
132
134
87
73
13
11
37
29
14
7
38
55
917
1,110
1,004
214
244
339
313
131
336
234
304
315
188
184
280
280
106
135
-4
224
602
652
165
167
-228
-246
-452
82
57
-4516
-145
-147
73
53
2
-2
-4
169
-450
-122
227
-137
427
636
341
189
-475
4
197
—4
—445
(*)
-478
238
1,111
-607
352
798
-102
-106
110
137
100
127
146
155
142
15
1,387
2,290
237
373
32
a
233
78
78
-92
180
-165
-167
-43
-43
—165
-41
-2
73
223
217
216
210
485
212
181
138
186
224
206
238
220
452
520
544
610
174
-1X5
(*)
24
2
—4
375
—4
1,046
2
607
350
1,912
26
26
(*)
103
22
4
—4
4
80
282
—2
-92
-96
o
42
437
-22
223
120
487
466 10 1, 054
10642
139
81
115
94
102,354
311
321
224
299
326
509
7
7
9
9
-2
-2
-11
-11
-17
-17
9
-3
-3
-3
9
-2
-1
-1
-148
-148
10
310
310
3
3
320
1
-3
4
8
1
-10
2
1
37
-36
9
9
13
13
37
1
-36
9
350
2
2
10
jj
-3
^
10
321
—151
616
10277
56
117
76
27
2
46
94
164
116
(*)
206
183
10716
157
64
75
103
-151
75
55
66
204
-22
495 101,211
372
376
1,154
2
-2
22
100
Associated with other U.S. Government nonmih'tary sales and miscel(.
laneous operations
_____
8
25
U S Treasury securities not included elsewhere ®
26
Export-Import Bank securities not included elsewhere
* Preliminary.
*Less than $500,000 (±).
1. The identification of transactions involving direct dollar outflow from the United States
is made in reports by each operating agency. However, such data for first quarter 1974 are only
extrapolated estimates by BE A, because of incomplete reports from one operating agency,
and 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 and 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 these short-term claims recorded in lines A.29
and B.14 are included in line B.15.
4. Consists of (a) transfers of military goods and services financed by U.S. Government
credits and (b) advance payments to the Defense Department (on military sales contracts)
financed by credits extended to foreigners by U.S. Government agencies.
197 2
1070
1Q79
1Q71
2
-3
1
-151
-7
-7
7
C)
(*)
(*)
27
27
8
8
27
7
2
i
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. Line B.12 excludes recovery of investment value of aircraft on long-term lease through
physical return of depreciated aircraft; see footnote 8 to table 1.
8. Consists of transfers of military goods and services financed by 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 Department financed by credits
to foreigners by U.S. Government agencies.
9. Excludes liabilities associated with military sales contracts financed by U.S. Government credits and included in line B.ll.
10. See text p. 27 for discussion of military transfers to Israel.
SURVEY OF CURRENT BUSINESS
June 1974
47
Table 6.—Direct Investment and Securities Transactions
[Millions of dollars]
(Credits+; debits-)
Line
1971
1972
1972
1973
I
1 U.S. direct investments abroad (table 2 line 39)
2
3
4
5
6
7
8
9
10
11
12
13
14
—4 943 —3,517 —4 872 —1 689
Transactions with foreign incorporated affiliates
Intercompany accounts* short-term
long-term
Capital stock
and other equity net
Increase l..
2
Decrease 3
.
Miscellaneous
Branch accounts
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
4
Of which: manufacturing affiliates:
-
-
bonds, net, Treasury basis 5
less: recorded in line 1 as U.S. direct investment abroad
plus' other adjustments
...
- -
--- -
-
-- -
U.S. securities, excluding Treasury issues, netforeign purchases (+), balance
of payments basis (table 2 line 50 or lines 54+61 below)
. .
5
58
59
Bonds, net, Treasury basis 5
Plus: proceeds obtained by U~S. parents from securities issued by Netherlands Antilles finance
subsidiaries
Plus ' other adjustments 8
Bonds, net, balance of payments basis
New issues sold abroad by U.S. corporations 7
Of which denominated in* Dollars
Convertibles
- Straight debt
Investments by International and Regional organizations in nonguaranteed bonds of U.S. federally sponsored agencies
.
Other transactions in U.S. bonds
- - -
-35
291
-406
-360
-87
-294
-344
-250
n.a.
n.a.
n.a.
n.a.
7
209
— 115
383
2 537
—215
216
158
224
351
588
886
712
1 1?7
-203
-436
232
255
-23
306
-384
690
773
-84
2,305
818
1,487
1,537
-50
-223
-727
504
512
-8
195
161
34
36
-2
116
56
61
134
-73
218
126
92
92
297
163
134
165
-31
570
483
87
105
-18
828
85
744
744
610
87
523
524
-1
1 094
885
209
209
88
77
232
8
21
42
6
54
18
58
102
33
256
19%
725
79
49
41
23
249
132
175
169
120
-966
-653
-807
-437
-346
209
-79
51
—209
-525
-647
-57
-29
410
-16
-13
176
-23
43
-3
77
(*)
84
—10
-13
206
—3
149
—14
33
—6
3
—2
-9
—1
-15
—2
-27
—14
-11
-13
132
12
—119
-38
412
—48
-27
460
155
331
-49
23
199
-12
46
—9
-8
55
-15
99
—20
-9
76
—11
209
163
—4
39
—3
5
—1
-8
—4
— 13
—3
87
32
112
—68
11
81
—23
—18
104
72
86
—63
9
167
88
-15
87
7
42
4
14
33
—9
6
24
—20
_7
9
—4
36
-113
78
—5
-10
33
—158
116
—1
-405
17
131
3
—310
8
29
-113
—162
— 202
—517
—633
-9S5 -1,060
-15
35
-19
29
211
152
-134
191
2
-994
-13
-476
7
—1
214
66
34
102
12
-124
—IS
—939 — 1,065 — 1,007
—483
—422
128
—288
— 113
— 162
—215
—517
—633
-1,548 -1,615 -1,379
-781
-897
-806
-32
-102
-74
-342
-359
-495
-274
-376
—4
480
557
458
—7
129
—86
-121
125
-100
-1
151
—9
21
62
-6
11
-58
-39
-604
-199
-22
-116
-267
142
—21
-22
—4
2
7
-489
-380
—32
—77
—69
-25
-677
-574
—10
-93
Il3
33
-12
—8
18
35
—251
—174
—13
—63
—1
90
54
-22
—25
27
-34
—549
-254
105
—38
-45
48
-7
-34
-271
-138
-61
-69
-3
124
34
4
48
12
-30
-308
-240
-37
-7
160
37
-5
31
7
4
-453
-293
—48
-112
961
719
1 173
670
696
2,289
4,507
4,051
1,059
731
1 94
11
2,785
-27
598
96
170
836
-83
722
197
2,188
186
59
2,433
-76
2,204
305
2,758
101
2,077
580
694
-57
648
103
684
150
15
-49
76
23
-35
1,769
-68
—295
131
—99
-70
—24
5
-10
103
—59
0
-8
-7
-36
1,718
489
1,273
155
-27
871
486
377
-2
170
—41
135
76
421
1
59
481
2
476
3
999
89
1,089
20
945
123
1,273
87
1,039
147
128
37
37
54
871
29
623
219
486
-52
378
160
376
-48
453
-30
1,872
1,949
503
570
219
580
1,289
600
227
-167
94
758
11
1,453
1,181
933
200
733
655
-453
2,074
2,003
1,598
961
637
215
-871
1,293
1,223
743
372
371
100
-238
365
296
255
35
220
259
-38
791
766
670
449
221
96
-77
238
372
268
222
46
200
—100
680
569
405
255
150
124
-968
444
384
300
156
144
37
-276
361
274
172
95
77
54
22
303
197
90
34
56
351
185
368
181
87
94
227
321
25
25
39
233
145
-74
52
17
18
51
155
-130
-35
-99
7
104
-8
68
64
23
135
-29
-139
-45
187
109
* preliminary.
*Less than $500,000 (i).
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 transactions.
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 include all industries except those previously listed, the major ones being agriculture, public utilities, transportation, trade, insurance, finance and services.
n.a.
-434
-495
-20
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
Olher
67
-324
-86
-979
-576
-804
51
52
53
54
55
56
57
60
61
62
63
64
65
66
n.a
na
na
n.a.
n.a.
na
-13
-469
131
40
- -
—862
—650
190
—189
-630
-872
243
-22
-92
-376
—513
-117
--
—974
—719
—370
—34
—307
-479
172
—7
-114
-167
-147
8
_ _ _ _ _ _ _ _
_ . .
—510
-321
—52
139
-408
-751
343
—1
-163
-591
-571
-364
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 '
Canada
Western Europe
Japan
Other
—943
-785
—102 —1,858
—550
601 —1 486
208
165
53
-342
—861
-426
-525 -1,059
-535
102
110
198
-7
2
-21
-510
-88%
-201
-1,950 -1,603 -1,417
-1,556 -1,100 -1,820
-927
-433 -1,434
-
-
—311 —2 445
104
647
—204
-344
-442
98
5
—420 —1 098
-622
stocks, net, Treasury basis
less ' recorded in line 1 as U S 'direct investment abroad
.
plus: exchange of stock associated with direct investment in United States..
plus: other adjustments
-
.-
IP
-587
5
- -
IV
-209
-
-
III
-313
--
-
II
-525
--
-
I
IV
—271
Foreign securities, net U.S. purchases (-) balance of payments basis (table 2,
line 40 or lines 27 -f- 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
-3,549 —1,418
—1 719
—899
-30
—224
-1,771
-263
-2,637
-351
866
88
-28
-33
III
-- -1,045 -1,317 -1,324
Foreign direct investments in the United States (table 2, line 49)
20
23
24
25
26
-
Branch accounts
Transactions with U.S incorporated affiliates.
Intercompany accounts
Capital stock and other equity net
Increase *•2
_
Decrease
22
- _. -3, 898 -2, 201
—1, 241
—200
-597
-55
-1, 999 -1,890
-2,379 -2, 376
380
486
-60
-55
By industry of foreign affiliate: *
Mining and smelting
Petroleum
Manufacturing
Other..
15
16
17
18
19
21
II
1974
19 73
25
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. Securities newly issued by finance subsidiaries incorporated in the Netherlands Antilles
are included to the extent that the proceeds are transferred to U.S. parent companies.
8. Mainly reflects exlcusion 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.
SUEVEY OF CURKENT BUSINESS
48
June 1974
Table 7.—Claims on Foreigners and Nonliquid Liabilities to Private Foreigners Reported by U.S. Banks and Nonbanking Concerns
[Millions of dollars]
1972
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
1972
1973
1973
I
II
III
IV
I
II
-346
-360
-412
-263
-317
1974
III
IV
IP
-452
Amounts
outstanding
March
31, 1974
A. Claims reported by U.S. banks.
1
Long-term (table 2, line 41) ..
2
Short-term, nonliquid (table 2, line 42)
-612 -1,307
7
8
9
10
Payable in dollars
By type:
Loans
. -.
..-.._
..
Acceptance credits
Collections outstanding
By Area:
Canada
Western Europe
Japan
_
.
_ _.
.
Other
11
12
Payable in foreign currencies
Of which Canada
3
4
5
6
13
.. _
19
20
584 -1,582 -2,669
18,848
-359
170
-1,451 -1,705 -2,047
1,050
-930
-258
-85
-793 -1,030
-202
-156
-1
-585
927
-172
-224
516
-233
-92
-253
-180
-571
-517
-503
-359
370 -1,784
-826 -1,062 -1,472
-151
-276
276
-208
-138
82
486
-260
20
-73
208
-94
35
19
13
16
-2
2
-566
Payable in foreign currencies.. . _. . .
By type:
Deposits
.- Foreign government obligations and commercial and
finance paper
By area:
Canada
Other
17
18
59 -1,318 -1,559 -1,450
-1,794 -1,448 -4,007
Short-term, liquid (table 2 line 43)
16
18,992
-324
-8
-8
Payable in dollars
- .. .
..
_
- Of which Canada ... ..
_ - . _ . . --_...
6,054
556 -1,522 -2,697
-189
. ..
14
15
-192
57 -1,373 -1,542 -1,432
-833
-1,802 -1,457 -3,940
. . - . -342
- -321
183
199
-845
-257
-457
-801
-501
-148
508
265
-189
-12
16
-205
-236
-598 -1,047
-295
-500
-105
-422
-426
-497
137
302
70
75
18
28
-28
15
-694
-237
-387
-55
-20
17
-12
-1,363
-970
-336
9,032
5,125
4,641
268
-200
-582
-246
-381 -1, 157
-755 -1,198
641
2,9S5
6,625
8,597
60
15
-28
-12
144
51
-909
-437
-236
-9
17
67
46
-742
-1,103
-453
301
-422
-168 -1,171
996
-456
-472
-2,248
6,672
-799 -1,220
-21
-19
-312
-145
147
193
-369
-77
-265 -1,049
-523
10
902
437
-546
-45
-527 -2,092
-472
110
5,969
1,259
-224
57
117
-141
154
-53
97
-122
94
90
55
-156
703
-197
107
13
-31
93
55
-10
-83
-28
93
31
-115
543
-27
-50
104
-110
61
-108
107
-39
122
-3
24
-41
160
-66
-158
-15
72
109
8
-183
42
161
-7
-113
60
120
-23
-20
-102
86
8
18
72
25
30
-67
-89
292
411
-168
-530
-464
-253
-305 -1,240
-74
52
-64
83
20
-38
-135
-402
-142
29
-71
7
-150
-402
-101
-874
-125
-666
4,336
6,252
-34
-496
13
-509
-7
-47
-75
-69
-311
-91
173
-214 -1,413
-16
-120
-198 -1,293
-64
-48
59
-106
-41
-225
11
-190
-724
-163
-65
117
-1
118
-34
54
(*)
-20
118
40
43
1
42
6
40
-9
24
-19
3
-41
-6
-35
-20
-31
54
-4
-34
-69
-333
-10
-323
-16
-4
-86
11
-228
41
-12
2
-14
18
-10
-84
-22
84
121
-114
-12
-102
-20
-19
14
-5
-72
-13
-389
-32
-357
-21
-55
-39
-43
-199
24
-898
-78
-820
-25
-22
-116
-120
-537
4
-670
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
227
6,025
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
-531
-505
-841
-290
-197
-123
105
-825
-123
-24
131
-554
3709
-448
-410
-704
-208
-170
-114
82
-600
-175
35
36
-531
3086
-395
-53
-367
-43
-722
18
-158
-50
-148
-22
-143
29
82
(*)
-500
-100
-256
81
39
-4
-5
41
-469
-62
2987
99
-121
-196
-131
-97
-101
-212
-165
-142
-397
-183
-60
35
61
-69
-162
-68
52
-98
93
-24
13
-253
-243
-104
-36
53
-192
40
10
-15
84
38
-86
-161
-310
-60
772
1269
1045
B. Claims reported by U.S. nonbanking concerns.
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
Long -term (table 2, line 44) _. .. ..
Short-term nonliquid (table 2, line 45)
Reported by brokerage concerns
Reported by others
Payable in foreign currencies.-- .. .
- Payable in dollars
Canada
United Kingdom _
European Economic Community (6)
Japan
Other ..
_.
. . .
.
_ ._ _
_..
Short-term liquid (table 2, line 46)
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.. _
-._ _
-83
-95
-137
-82
-27
-9
23
-225
52
-59
95
-22
622
-84
1
-122
27
-91
-46
-28
-54
-58
31
-56
47
20
3
-68
-157
-39
91
-32
-27
48
47
82
-104
404
218
-35
-48
64
-159
-73
-64
-41
-41
43
-70
36
-45
26
-3
-176
-49
122
-70
-49
-10
30
65
-94
72
269
353
-72
-118
-121
-445
-169
-161
-176
-114
32
103
-59
-254
82
-180
—168
-4*4
-103
-16
49
-48
43
827
-116
-426
707
1582
-250
-344
149
116
252
181
200
183
83
64
-73
-80
-61
-51
153
117
78
72
28
-11
-1
3
140
208
1317
969
384
594
264
-83
226
142
309
245
39
190
-210
-57
4971
328
192
15
-38
19
-7
218
66
55
-33
-72
9
922
-15
221
904
45
42
-44
178
38
1
335
530
323
5718
-37
-4
26
-21
47
-19
-80
146
61
-196
356
22
334
29
175
130
-39
228
715
266
449
16
-95
528
14
-50
81
-25
106
9
59
38
-13
-25
80
35
45
-8
49
4
-26
-27
9
26
-17
4
-32
11
86
-94
186
-14
200
24
99
77
-62
161
-61
11
-72
54
-177
51
6
13
-18
57
-75
-19
-161
105
-26
14
347
141
206
-9
112
103
43
40
447
57
390
-10
131
269
51
-56
328
n.a.
n.a.
n.a.
n.a.
n.a.
384
838
4,496
n.a.
n.a.
n.a.
n.a.
n.a.
Memorandum:
24
25
U.S. dollar deposits in Canadian Banks:
As reported by major U.S. corporations other than banks (included
in line B. 14)
As reported in Canadian banking statistics
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
D. Nonliquid liabilities to private foreigners reported by U.S.
non-banking concerns:
1
2
3
4
5
6
7
8
9
10
11
Long-term (table 2, line 51)
_
Of which
reported by Netherlands Antilles finance subsidiaries 1
Short-term (table 2, line 52)
Reported by brokerage concerns .
Reported by Netherlands Antilles finance subsidiaries *
Reported by others
Payable in foreign currencies
:
Payable in dollars
. _
_ _.
Canada
Western Europe _
Other
.
» Preliminary.
* Less than $500,000 (±). n.a. Not available.
1. Funds obtained by finance subsidiaries incorporated in the Netherlands Antilles from
sources other than sales of newly issued securities are included to the extent that they are
transferred to U.S. parent companies.
NOTE.—Details may not add to totals because of rounding.
Source: U.S. Department of Commerce, Bureau of Economic Analysis.
SURVEY OF CUERENT BUSINESS
June 1974
49
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. 1971
Debits (-); decrease in U.S. liabilities or increase in U.S. assets.)
1 U.S. liquid liabilities to private foreigners (table 2, line 54)
2
2a
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
To foreign commercial banks
Seasonally adjusted
To foreign branches of U.S. banks _ _ _
To others
.
To international and regional organizations _. .
.
To other private foreign residents and unallocated
Demand deposits
Time deposits 2
U.S. Treasury obligations:
Bills and certificates
Bonds and notes _ .
Other obligations 2- 3 -_
- _ -
Demand deposits
Time deposits 2
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
Payable in U.S. dollars . .
Payable in foreign currencies.
Other obligations2- 3 _.
. • ._..
_ ..
To International Monetary Fund
4
-
- -
.
IP
March
31, 1974 i
2,189
262
1,709 — 1,808
1,934
808
3,502
4 338
30 136
'
511
1 953
109
1 583
670
2 618
4 354
21 997
309
701
1 082
156
1 143 —1 893
1 777 —1,673
396
723
699
3 229
557
4 589
—1,966
2 669
711
-48
-579
1 191 —1,314
1 026
119
554
212
1 557
34
75
3,381
3 534
2 406
973
5 148
16 849
—5 339
-504
—6
—1 059
1 259
84
—2
2 375
2 283
107
6
582
—310
39
—4
786
702
—76
1
1 326
42
9
(*)
58
825
—514
112
—74
1
—1
205 —1,304
909
-73
4
743
17
172
(*)
481
1 871
82
3
662
—369
—4
43
4 684
6 572
'507
54
14 864
682
104
376
25
-70
-32
181
11
31
-50
384
—593
1 410
4
33
13
10
15
—116
15
_3
—3
49
—6
—14
7
—22
28
—68
41
(*)
-75
—34
21
—14
—4
—16
96
70
—1
130
516
116
57
—92
—30
—165
672
64
1
—52
—63
4
—57
—67
52
3
182
(*)
14
—66
—1
118
—91
—112
193
—107
—34
200
234
—18
161
—69
219
—723
228
267
749
-465
929
1,082
53
306
185
385
74
320
188
500
577
6,729
260
111
115
294
2 347
2 780
—9
83
55
69
—30
129
137
400
1,065
182
-200
—29
—232
294
478
278
341
22
69
117
104
—24
125
179
180
—149
167
160
2
7
61
—35
—118
-51
—31
-22
210
3
5
455
6
—71
27
—21
—4
110
—13
17
80
—3
36
-7
—2
—49
107
7
7
144
7
-36
149
9,734
4,452
2,108
771
5,356
1,499
8,615 -1,210
-485 -2,468
-999
60,940
27 637
10, 278
4 452
2 652
771
5 356
1,499
8,615 — 1 210
—485 —2,468
—999
60 940
—32
—50
263
842
534
1 031
—200
109
408
322
—297
—10
352
421
—308
102
506
-112
2 631
3 799
18,954
—852
—447
31,191
10
—1
2,239 —2 975
2,237 -2 975
2
648
689
1 2,500
2,500
(*)
1
-186
-132
927 —1,043
923 —1,043
4
._ - -
465
83
_ _._ _
1,474
729
-22
-544
-551
399
1,118
221
341
189
-475
280
200
10
—12
-300
11
-155
200
82
81
4
4
4
o
2
631
15
83
2,340
825
3,501
3 500
1 119
13
—47
-43
397
287
492
685
6,167 —2, 936 — 1 189 -2,043
6,166 -2, 936 -1, 129 -2, 043
-447
-20 —1,213
74
(*)
—509
10
1
1 681
5
-60
17
4
31, 064
127
5,192
12, 329
11,000
1
13
410
637
852
1,021
856
74
(*)
-389
-447
5,798
27
34
117
1,202
259
11
-354
-277
1,384
—4
78
-165
-43
165
-452
-145
5
4
10
1,329
—544
5
Nonconvertible U.S. Treasury securities issued:
To Italy in connection with military purchases in the U.S
To Canada
To Germany . .
To other countries
40
Export ~Import Bank obligations
41
U.S. Treasury obligations to Germany to be liquidated against
U S claims
-2
351
-2
3,230
-22
-22
—4
_4
—4
2,348
32
209
-103
-53
122
866
—249
381
1,350
547
—703
35
153
9
233
-33
544
—710
64
-1
7
-245
185
134
-15
v Preliminary.
"Less than $500,000. (^)
1. Position figures reflect increase of $15 million in U.S. Treasury bills and certificates
(line 27), $113 million in U.S. Treasury bonds and notes (line 31), $19 million in nonmarketable,
nonliquid U.S. Treasury obligations (line 38), and a negligible amount in convertible currencies (line 45), as a result of revaluations in foreign currencies due to the dollar devaluation in
the first quarter, 1973. Total official reserve assets (line 42), also include an increase of $1,436
million resulting from change in par value of the dollar on October 18, 1973, consisting of
$1,165 million gold, $217 million special drawing rights, and $54 million reserve position in
the International Monetary Fund.
2. With maturity of 1 year or less; negotiable certificates of deposit with a maturity of 1 year
or less are included in "other obligations."
3. Includes debt securities of U.S. Government corporations and agencies with a maturity
of 1 year or less.
IV
589
3,281
6,015
6,000
36
Gold (table 2 line 59)
SD R (table 2 line 60)
Convertible currencies (table 2 line 61)
Gold tranche position in IMF (table 2, line 62).. ._
III
2 978
1 660
5,631
5,000
Nonliquid liabilities to foreign official reserve agencies, reported
by U.S. Government (table 2, line 57)
43
44
45
46
II
4,436
58
-59
35
U.S. official reserve assets, net (table 2, line 58) _ _ .
I
3 716
6
--
Amounts
out-
4,749
-858
Other readily marketable liabilities to foreign official agencies
(table 2, line 56)
42
IV
III
18, 944
34
37
38
39
II
1974
19''3
—6,691
U.S. liquid liabilities to foreign official agencies (table 2, line 55) .. 27,615
To central banks and governments
19 72
1973
I
-4, 942
Demand deposits
Time deposits 2
U S Treasury bills
and certificates
Other obligations 2- 3
Demand deposits.
Time deposits 2
U.S. Treasury obligations:
Bills and certificates
Bonds and notes
_. _
Other obligations 2 - 3
1972
-153
-12
-16
-25
-350
199
-30
2
-100
2,540
670
50
-172
2
—2
20
—4
—4
66
220
82
-16
233
-13
17
3
-13
-15
-210
14,588
-13
(*)
(*)
-15
-1
-209
11,652
2,166
9
761
9
(*)
8
4. 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.
5. 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 CUEEENT BUSINESS
50
June 1974
Table 9.—U.S. International
[Millions of
EEC (9)«
1971
1973
1 Exports of goods and services 2
.___-._
4
5
6
7
8
9
10
Merchandise, adjusted, excluding military 3
Transfers under U.S. military agency sales contracts
Travel
Passenger fares
.. Other transportation .
Fees and royalties from affiliated foreigners
Fees and royalties from unaffiliated foreigners .
Other private services.. .
U S Government miscellaneous services
11
12
13
Receipts of income on U.S. investments abroad:
Direct investments *
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
M erchandise, adjusted, excluding military 3
Direct defense expenditures
Travel _
_
Passenger fares.
Other transportation
..
-.
Fees and royalties to affiliated foreigners
..
Fees and royalties to unaffiliated foreigners . . .
Private payments for other services.. _
U.S. Government payments for miscellaneous services
25
26
27
Payments of income on foreign investments in the United States:
Direct investments *.
Other private liabilities.
U.S. Government liabilities
28
U S military grants of goods and services net
29
Unilateral transfers (excluding military grants of goods and services), net. .
30
U.S. Government grants (excluding military grants of goods and
services)
U.S. Government pensions and other transfers
Private remittances and other transfers
-. .
31
32
33
1973
23,484
4,162
4,644
6,153
11,459
11,834
16,576
4,887
5,490
6,550
2,404
112
67
69
276
283
65
99
19
2,732
55
96
74
304
323
65
113
20
3,772
69
126
95
365
367
82
107
19
8,019
674
193
100
506
505
162
146
73
8,642
273
231
105
537
585
160
186
66
12,483
372
301
137
683
727
170
161
68
3,169
142
107
51
564
149
43
96
54
3,618
128
125
54
580
180
49
114
60
4,504
135
112
' 63
590
190
47
117
85
2,035
541
60
470
184
115
583
180
97
772
283
98
878
158
45
859
161
31
1,267
150
-43
300
128
85
406
124
52
435
178
94
(*)
(*)
(*)
(*)
300
247
280
-25,703
-4,879
-5,563
-6,448
-12,178
-14,568
-18,300
-5,278
-6,613
-7,402
-15,744
-2,135
-1,154
-893
-1,190
-43
-129
-319
-106
-2,477
-258
-324
-289
-375
-11
-37
-238
-14
-2,946
-331
-342
-340
-359
-15
-44
-220
-14
-3,520
-341
-354
-330
-417
-20
-53
-226
-15
-7,600
-1,496
-539
-426
-488
-3
-55
-74
-73
-9,126
-1,624
-666
-500
-589
-6
-57
-87
-70
-11,558
-1,741
-713
-509
-722
-23
-73
-89
-89
-2,736
-267
-510
-287
-520
-36
-18
-54
-63
-3,587
-300
-637
-371
-586
-72
-20
-72
-70
-3,790
-281
-646
-357
-666
-90
-22
-77
-83
-407
-1, 392
-2, 192
-236
-407
-212
-272
-455
-225
-262
-682
-229
-134
-533
-757
-158
-554
-1, 131
-144
-701
-1,939
-96
-522
-171
-76
-588
-236
-120
-943
-327
(*)
(*)
(*)
-91
-62
-56
-72
(*)
-220
129
-25
-37
-29
-26
-35
-37
-65
11
15
(*)
-123
59
(*)
-110
120
(*)
-167
182
-300
-247
-280
-284
-215
-197
-30
-108
-146
59
-118
-156
79
-114
-162
204
146
52
-18
-70
-99
-225
-215
-36
-4
-69
14
-120
-27
-163
28
-186
5
-321
18
-476
10
-457
3
323
204
201
43
201
127
73
110
7
111
201
2
213
28
239
-
-4,227
-1,249
-1,897
-1,795
-1,174
-2,275
-380
..
-2,601
-83
-685
-86
-35
32
-857
-206
-1,335
65
-1,087
329
-1,694
111
-150
65
-46
156
-338
-33
-54
-503
-343
-59
-137
—47
-15
-102
-188
4
-394
-66
-139
-238
-74
-36
-274
-40
-40
-121
-276
-38
-146
— 12
-48
-163
-5
-102
-54
-3
-118
-337
-188
19
—41
-213
-35
43
-158
-98
-101
-179
19
-80
-14
-14
-70
18
-26
-220
-9
-14
-85
(*)
5
-133
-19
8
-187
19
13,616
2,288
-1,021
2,6%
5,833
8,562
10,511
4,352
2,504
5,614
187
-55
-1
48
-347
-191
133
-12
86
113
865
1,862
48
198
206
536
-72
-59
66
1,073
229
-34
573
610
83
97
65
884
167
-111
17
1,722
-155
94
296
1,246
-28
99
-35
683
155
-3
36
1,169
26
54
230
1,232
-31
88
[ 10,491
1,731
-2,353
1,286
5,181
7,082
8,801
3,568
1,138
3,986
-6
-7
-36
-4
-4
-4
303
4
604
-23
63
270
57
170
38
U.S. private capital flows, net
Direct investments abroad *
Foreign securities
41
42
43
Claims reported by U.S. banks:
Long-term
._
Short-term, nonliquid
Short-term, liquid.
44
45
46
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
Nonliquid liabilities to foreign official reserve agencies reported by
U.S. Government. . .
58 Transactions in U.S. official reserve assets, net
SDR
-458
-36
63
Gold
(*)
303
1
63
Allocations of special drawing rights (SDR)
64
Errors and omissions, and transfers of funds between foreign areas, net. . -7,204
-728
2,246
(*)
-577
-254
-690
188
608
3
63
Convertible currencies
Gold tranche position in IMF
1972
165
39
40
59
60
61
62
1971
1973
-65
27
Repayments on credits:
Scheduled _
Nonscheduled 8
55
56
57
1972
63
36
37
49
50
51
52
53
54
1971
-280
21
U.S. Government capitalflows,net .
Loans and other long-term asspts
Foreign currencies and other short-term assets, net
47
48
1973
16,822
451
447
241
1,142
1,118
258
278
92
(*)
34
35
.
1972
Other Western Europe 8
European Economic
Community (6) 7
(Credits +; debits -) 1
Line
2
3
United Kingdom
-4
-23
63
82
57
170
-3,910
-4,624
-6,520
-3,468
-744
-3,829
SURVEY OF CURRENT BUSINESS
June 1974
51
Transactions, by Area
dollars]
Eastern Europe
1971
1972
1972
1971
1973
Japan »
Latin American Republics and Other
Western Hemisphere
Canada
1973
1972
1971
1972
1971
1973
Line
1973
469
935
2,056
14, 129
16,445
20,161
10,513
11,236
15,226
5,554
6,670
10,706
1
409
862
1,917
12,488
37
928
10
301
420
38
247
12
15, 574
71
1,072
12
361
478
34
251
13
6,462
36
918
159
377
335
46
308
67
7,228
54
965
161
417
325
47
330
66
9,951
63
1,093
177
502
361
52
359
68
4,053
42
134
104
350
103
225
58
35
4,963
205
145
391
121
243
78
42
8,356
47
334
264
438
174
280
84
106
2
3
4
5
6
7
8
9
10
1,126
1,164
6
1,130
517
158
967
532
143
1,622
822
157
149
267
33
168
244
30
222
375
27
11
12
13
25
26
25
-19,781
-8,696
-9,997
-13,034
-8,982
-11,449
-12,278
15
-5
-263
-193
-7,278
-614
' -88
-58
-346
-1
-4
-30
-18
-9,076
-839
-121
-79
-346
-1
-6
-28
-22
-9,650
-818
-123
-84
-405
-1
-14
-40
-24
16
17
18
19
20
21
22
23
24
-28
-445
-21
-40
-197
-306
-58
-227
-646
-42
-365
-713
25
26
27
15
20
60
9
21
2
8
25
3
5
26
3
10,370
75
888
10
260
389
33
209
7
5
8
9
8
29
16
1,015
873
2
989
972
4
-16,750
-277
-438
-6%
-14,450
-225
-4
-29
-363
-4
-39
-596
-4
-48
-12, 130
-193
-1,079
-14,460
-168
-1,037
-17,173
-167
-1,158
-9
-17
-28
-9
-1
-1
-13
-1
-1
-16
-236
-64
-5
-190
-10
-249
-60
-6
-222
-12
-264
-73
-5
-247
-14
-3
-88
-258
-198
-91
-243
-202
(*)
-1
(*)
-1
(*)
(*)
14
(*)
(*)
-6,116
-152
-1,387
-77
-290
-7,066
-158
-1,654
-105
-319
-9,619
-135
-1, 851
-112
-360
-3
-204
-171
°-5
-226
-180
C)
-96
-345
-239
-28
-243
-27
-30
-246
-9
-25
-26
-25
-526
-591
-48
-42
-41
29
-10
-38
1
-14
-29
2
-16
-27
30
31
32
-24
-26
-28
-132
-121
-118
-544
-4
-10
-10
-1
-12
-13
-1
-15
-12
-63
-70
-72
-50
-85
-33
-269
-55
-221
-234
-64
-228
-235
-76
-280
(*)
28
(*)
8
-68
-364
-25
-29
-64
-357
-458
-498
68
40
232
33
-62
24
-157
27
-506
18
-28
3
-32
-74
1
-697
-7
-750
-9
-860•t
-217
(*)
-223
-17
-217
5
34
35
46
62
124
1
4
9
343
4
301
360
4
126
159
227
53
159
285
36
37
-29
-69
-339
(*)
(*)
-1,201
-1,667
-1,619
-1,362
-2,049
-2,766
-940
-269
-2,291
38
-273
-268
-350
-679
-540
-569
-691
-33
-300
-42
-673
-107
-213
-126
-229
-17
-36
256
38
40
-4
-12
-4
-26
-30
4
-238
-15
-1
64
-100
-387
-198
-236
-34
-83
-134
88
-136
-208
-45
-538
-800
-142
-60
-990
-388
-132
-371
-17
-73
380
-258
105
-1,783
-465
41
42
43
-5
-4
-2
-15
-23
-62
-93
11
-155
-65
-70
-35
-98
-43
-239
-25
-224
-20
-207
-92
-456
°--20
61
-20
9
-60
-6
-205
-157
44
45
46
23
67
-268
864
662
-16
934
2,543
10,004
5,107
-6,853
47
-34
13
-14
-9
-12
54
-5
-8
309
48
249
6
-9
4
348
149
17
34
60
56
99
103
-23
-9
31
69
53
43
117
179
-512
54
10
33
39
208
442
-20
334
616
18
80
49
50
51
52
-325
877
2,097
10,424
4,446
-8,210
53
54
-3
(*)
(*)
(*)
-3
-1
27
85
-45
5
-20
24
40
-610
402
427
351
200
-300
(*)
(*)
(*)
(*)
(*)
(*)
55
56
57
58
4
59
60
61
62
4
63
-143
-357
-696
1,948
1,257
759
457
860
-880
-5,658
-58
10,524
64
SURVEY OF CURRENT BUSINESS
52
June 1974
Table 9.—U.S. International
[Millions
Australia, New Zealand and South Africa
Line
Other countries in
Asia and Africa 9
International Organizations and Unallocated 10
European Economic Community (9) 6
(Credits +; debits -) 1
1971
1972
1973
1971
1972
1973
1971
1972
I
1 Exports of goods and services 2
2
3
4
5
6
7
8
9
10
Merchandise, adjusted, excluding military 3
Transfers under U.S. military agency sales contracts.. _
Travel
Passenger fares. Other transportation
Fees and royalties from affiliated foreigners
Fees and royalties from unaffiliated foreigners _ .
Other private services
U.S. Government miscellaneous services
11
12
13
Receipts of income on4 U.S. investments abroad:
Direct investments
_
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
5,597
6,766
6,969
•270
28
323
55
189
209
2
234
2
4,126
136
114
65
298
264
63
71
23
3,964
125
150
92
314
289
66
67
28
4,882
117
109
45
297
317
69
64
21
5,297
157
84
43
280
273
69
68
24
435
108
13
400
126
-6
185
130
-7
589
104
9
443
125
20
363
136
3
641
176
28
455
201
19
11,669
18,230
6,175
779
98
73
598
202
18
258
149
6,692
508
114
90
649
247
25
272
144
10, 879
1,399
139
141
778
240
29
314
144
257
29
310
57
27
326
66
20
481
84
36
1,700
259
403
2,228
282
419
3,310
417
439
2,879
3,917
2,467
25
26
27
(*)
-24
-17
_2
-28
-59
-3
-105
-148
I
5,749
10,711
2,249
189
79
82
104
222
35
51
1
Payments of income on foreign investments in the
United States:
Direct investments *
Other private liabilities
U.S. Government liabilities
IV
3,850
73
74
39
233
247
60
76
19
3,613
1,543
59
53
60
82
186
28
43
1
Merchandise, adjusted, excluding military 3
-1, 139 -1,405 -1, 849 -5,775
Direct defense expenditures
-38 U -45 11 -42 -1,797
Travel
___
_ .
__.
-50
-58
-58 -305
Passenger fares
-57
-68
-76
-61
Other transportation
-38
-41
-48 -266
Fees and royalties to affiliated foreigners
-2
(*)
(*)
Fees and royalties to unaffiliated foreigners
-1
-1
(*)
Private payments for other services
_.
-17
-17
-42
-17
U.S. Government payments for miscellaneous services.
-25
-25
-246
-30
III
5,372
2,467
1,693
51
41
49
75
165
25
41
1
16
17
18
19
20
21
22
23
24
II
923
2,533
-1,406 -1,749 -2,376 -8,642 -10,300 -13,885
1974 P
1973
1973
1,031
-831
1,028
-999
(*)
(*)
(*)
-1,251 -5,594 -6,607 -6,646 -6,857 -6,707
-7,725 -11,208
-974
-1,288
-369
-390
-93
-88
-452
-351
-1
-1
(*)
(*)
-59
-46
-232
-224
-35
-509
-45
-626
-116
-150
-3,612 -3, 957 -3, 869 -4,306 -4,354
-525
-521
-585
-520
-510
-95
-112
-429
-455
-158
-165
-155
-52
-167
-303
-258
-295
-324
-308
-318
-263
-776
-16
-8
-11
-9
-8
-36
-31
-34
-36
-28
-85
-85
-82
-75
-78
-30
-25
-28
-24
-29
-170
-58
-114
-65
-113
-134
-119
(*)
-104
-43
(*)
-115
-64
-196
-234
-76
-2,879
-3,917
-2,467
-91
-278
-422
-90
-321
-550
-109
-365
-594
-117
-428
-626
-121
-428
-551
(*)
(*)
28
U.S. military grants of goods and services, net
29
Unilateral transfers (excluding military grants of goods
and services), net
-24
-23
-28 -2,274
-2,523
-2,581
-190
-276
-202
-13
-32
-23
-23
-19
30
U.S. Government grants (excluding military grants of
goods and services)
U.S. Government pensions and other transfers
Private remittances and other transfers
-5
-19
-6
-18
-7
-21
-1,549
-143
-583
-1, 722
-148
-653
-1,577
-161
-844
-190
-276
-202
(*)
-54
41
-54
22
-58
35
-55
31
-56
36
31
32
33
U.S. Government capital flows, net
34
35
Loans and other long-term assets. .. _
Foreign currencies and other short-term assets, net
36
37
Repayments on credits:
Scheduled
Nonscheduled 5
38
U.S. private capitalflows,net
39
40
Direct investments abroad 4
Foreign securities
.
41
42
43
Claims reported by U.S. banks:
Long-term
Short-term, nonli quid
Short-term, liquid
44
45
46
Claims reported by U.S. nonbanking concerns:
Long-term
Short-term, nonliquid
.Short-term liquid
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
..
..
.-
.
--
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
-939
-1,722
-66
-69
-159
-74
66
-32
103
-91
-1,815
130
-1, 967
-657
-71
-74
-164
-92
-1
-62
4
-51
-1
-74
18
-100
-15
733
-11
739
7
902
(*)
5
5
19
124
20
159
24
-35 -1,711
-1,871
-2, 196
-19
-8
77 -1,612
-120
-1
-94
-1
-113 -2, 478
2
144
103
88
-630
-414
-333
30
-241
23
-116
27
-110
-162
-12
-25
-104
-15
-24
I ~18
189
Allocations of special drawing rights (SDR)
Errors and omissions, and transfers of funds between
foreign areas, net--
62 -1,812
-403
-833
-394
23
-496
-28
-532 -1, 365
-176
-93
-50
12
-225
-6
-235
228
59
-91
-158
-57
-189
-188
-48
-470
-605
-1
-8
-62
-315
-35
23
>7
-46
-116
42
-29
-182
92
-91
-126
-261
608
9,689
1,704
1,077
1,147
763
123
-35
-18
118
-13
50
797
317
39
355
479
144
547
359
437
46
-81
54
-83
60
145
-112
217
-26
32
8,770
1,237
56
428
-26
-16
175
-834
-333
-525
-403
-545
-276
-395
-121
56
41
20
-58
-428
32
-348
-128
-64
-457
-502
-11
(*)
(*)
(*)
(*)
(*)
-25
-27
-39
-24
-45
-157
-77
-87
-96
-201
446
2,177
176
-518
2,115
2,219
3
-14
-80
-19
365
541
11
-24
-1
*ls
6
52
(*)
110
707
93
24
-32
28
-18
66
79
-4
74
2
73
29
219
464
2,182
115
-627
1,565
765
(
1
412
92
320
-101
231
-332
61
547
—135
-901 -2,449 -1,427
-24
44
1,123
-6
44
22
-249
544
-703
9
1,350
153
-33
717
710
-65 -1,375
229
4,002
1,848
-1,179 -3, 142
-516
-720
-335
Gold . . .
..
SDR
Convertible currencies
Gold tranche position in IMF...
64
-821
5
-43 -1, 179
15
106
Transactions in U.S. official reserve assets, net
63
(*)
-195
63
(*)
(*)
63
(*)
(*)
43 -7,631
-476
860
43
2,226
SUEVEY OF CURRENT BUSINESS
June 1974
53
Transactions, by Area—Continued
of dollars]
1973
I
Other Western Europe 8
European Economic Community (6) 7
United Kingdom
1974^
1973
1974 v
1973
1974P
Eastern Europe
II
III
1,437
1,487
1,406
1,823
1,642
3,760
4,071
4,027
4,718
5,125
813
13
19
15
77
82
17
28
5
912
24
25
25
93
80
20
27
4
895
15
52
38
99
97
22
26
4
1,152
17
30
17
96
107
23
26
6
1,074
11
22
17
90
84
23
27
4
2,901
58
51
23
136
161
41
45
13
3,078
108
84
38
181
179
42
42
18
2,954
106
92
51
189
185
43
38
23
3,550
99
74
26
177
203
44
36
14
4,071
142
57
24
171
183
44
38
18
310
54
4
204
64
10
82
72
4
176
92
80
180
106
4
280
48
4
234
60
8
284
62
-2
468
81
-53
271
92
13
-1,424
-1,669
-1,675
-1,680
-1,583
-3,981
-4, 698
-4, 704
-4,918 -4,866 -1,588 -1,978 -1,956 -1,881 -1,935
-823
-96
-37
-64
-91
-5
-12
-51
-4
-904
-85
-121
-112
-103
-5
-13
-55
-4
-860
-82
-138
-88
-117
-5
-14
-59
-4
-933
-78
-58
-66
-105
-5
-15
-62
-4
-865
-84
-32
-59
-110
-4
-15
-62
-4
-2,646
-402
-71
-92
-161
-5
-16
-23
-20
-2,894
-422
-280
-173
-179
-4
-18
-23
-21
-2,842
-424
-271
-155
-194
-2
-19
-22
-25
-3, 176 -3,284
-492
-427
-91
-60
-89
-86
-189
-195
-11
-4
-21
-21
-22
-22
-24
-25
-62
-136
-44
-58
-153
-57
-60
-188
-61
-82
-206
-67
-85
-208
-55
-29
-141
-374
-32
-166
-488
-49
-175
-527
IV
(*)
I
I
II
III
I
IV
(*)
(*)
-34
-220
-550
(*)
(*)
-37
-218
-488
(*)
I
II
III
1,527
1,631
1,084
30
19
11
128
33
12
29
16
1,085
49
40
17
149
47
12
29
20
111
36
19
89
1974 v
1973
III
IV
Line
I
IV
I
1,449
1,943
2,275
490
612
487
468
442
1
948
29
29
21
155
48
12
29
18
1,387
27
24
14
158
62
12
30
32
1,657
59
21
12
155
44
12
31
20
463
574
448
432
388
11
22
15
11
19
1
1
1
1
1
1
1
1
1
1
2
3
4
5
6
7
8
9
10
119
44
22
95
44
20
110
54
33
226
63
-24
3
3
6
2
9
7
11
5
13
14
11
12
13
95
57
39
95
-137
-174
-180
-206
-295
15
-122
-1
-2
-146
-1
-15
-139
-1
-27
-189
-1
-4
-278
(*)
-6
-7
-7
-8
-8
(*)
(*)
-5
(*)
(*)
-4
(*)
(*)
-3
8-5
16
17
18
19
20
21
22
23
24
i
-1
(*)
25
26
27
I
-880
-70
-82
-70
-148
-28
-4
-20
-20
-970
-70
-234
-137
-167
-21
-5
-19
-18
-915 -1,025 -1,052
-72
-68
-100
-242
-70
-88
-51
-69
-99
-182
-171
-174
-22
-33
-19
-6
-6
-6
-21
-19
-19
-20
-25
-20
-21
-179
-66
-46
-212
-79
-36
-254
-91
-17
-298
-92
-14
-282
94
-89
-95
-57
-39
-95
II
14
(*)
(*)
-1
(*)
(*)
1
(*)
(*)
(*)
28
-7
-7
-7
-8
29
-2
(*)
-4
-3
-4
-3
-4
-4
-4
-4
30
31
32
-66
-165
-179
-9
-12
43
33
-64
1
-121
7
-191
5
-222
6
-51
3
-42
4
-38
2
34
35
65
63
47
21
38
39
27
79
36
37
-205
-263
-175
-723
-69
-169
-61
-40
-25
-38
-5
-3
-32
87
-25
-400
10
-26
-189
-6
-36
-188
-1
-2
342
-23
-38
-19
27
-104
-101
-37
-54
-16
(*)
-94
-23
(*)
-9
-207
18
-15
19
5
65
-7
6
-48
23
12
-223
3
23
-115
1
1
-52
-353
-540
1,878
1,943
969
824
182
-3
15
-17
92
-19
16
4
76
17
36
164
69
162
340
3
368
183
310
167
595
23
232
6
259
34
147
85
136
49
-72
35
35
-32
67
-80
69
-20
-10
39
29
-28
-38
-37
84
-5
13
22
-7
3
16
1
7
9,056
-519
874
-610
-985
1,034
1,751
584
617
-88
-6
-1
46
1
-15
-19
-18
-20
-20
9
-3
4
6
10
46
-88
-79
-76
-74
-9
-6
-9
-10
-9
-9
-9
-12
-9
-11
(*)
-40
49
-41
37
-45
49
-42
48
-43
52
110
-28
-36
-18
-27
-43
-5
-30
-45
-9
-28
-39
-8
-31
-35
(*)
-5
41
-6
117
-18
-71
-26
-7
-72
-76
-34
-105
(*)
-15
6
-22
2
-10
1
-22
4
-19
-6
-75
-9
33
«.
-29
2
-40
-2
-43
14
-74
-12
-131
-89
-1
-173
3
3
60
3
134
6
13
60
16
23
14
55
56
-505
-250
-532
-611
-1,521
-1,295
-143
-304
-533 -1,562
-573
-224
-53
-258
-24
-85
-37
-290
-93
-521
-152
-938
60
-124
44
-399
9
-234
-2
-807
-28
-385
29
23
-26
—40
-9
-91
129
-1
-115
-164
-9
-162
9
-6
-129
-423
-64
36
-182
2
-134
97
62
8
6
-40
-31
-197
-36
-315
-179
36
13
-234
-23
-16
42
-38
-62
-30
-73
-36
43
-82
71
-279
-48
-78
-81
-12
33
-49
-8
-54
72
42
-121
49
27
1,666
-257
1,261
1,577
9,544
-73
1,393
30
-10
2
26
7
90
-31
85
327
150
-32
191
138
146
177
178
128
-32
469
-2
-10
19
-128
92
78
-26
157
—8
34
-403
1,667
-758
780
1,238
-6
38
39
40
-53
-12
-2
—14
-37
36
1
-18
-8
1
—9
20
-31
47
8
41
42
43
44
45
46
20
47
48
1
49
50
51
52
53
54
19
55
56
2
2
57
(*)
(*)
(*)
63
(*)
170
—1
58
(*)"
(*)
(*)
63
(*)
170
—1
59
60
61
62
-16
175
195
0
63
485
-1,256
1,082
-889
-76
-8,030
813
-389
1,086
1,906 -1,384 -1,269
-541
-635
343
-110
-98
-278
-211
-178
64
SURVEY OF CUREENT BUSINESS
54
June 1974
Table 9.—U.S. International
[Millions of
Latin American Republics and Other
Western Hemisphere
Canada
l
(Credits +; debits -)
Line
1973
"T - -1
1 Exports of goods and services 2
..
4
5
6
7
8
9
10
Merchandise, adjusted, excluding military 3
Transfers under U.S. military agency sales contracts
Travel ._
_
Passenger fares
Other transportation
Fees and royalties from affiliated foreigners
Fees and royalties from unaffiliated foreigners
-.Other private services
U.S. Government miscellaneous services
11
12
13
Receipts of income on U.S. investments abroad:
Direct investments *
Other private assets.. .. U.S. Government assets
2
3
.
- -
...
.
....
14
Transfers of goods and services under U.S. military grant programs, net
15
Imports of goods and services
Merchandise, adjusted, excluding military 3
Direct defense expenditures
. .. .. .
Travel
Passenger fares
_. Other transportation
Fees and royalties to affiliated foreigners
Fees and royalties to unaffiliated foreigners
Private payments for other services
U S. Government payments for miscellaneous services
25
26
27
Payments of income on foreign investments in the United States:
Direct investments *
Other private liabilities
U.S. Government liabilities
.
_..
U.S. military grants of goods and services, net
29
30
31
32
Unilateral transfers (ev eluding military grants of goods and services) , net- - .. .
U S Government grants (excluding military grants of goods and services)
U.S. Government pensions and other transfers
Private remittances and other transfers
.. . .. .-
33
34
35
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 &
.
.
.
Claims reported by U.S. banks:
Long-term
Short-term, nonliquid
Short-term liquid
44
45
46
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
49
50
51
52
53
54
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
55
56
57
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.
58
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 (SDR)
64
Errors and omissions, and transfers of funds between foreign areas, net
-- -
__
» 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.
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.
II
III
IV
I
4,623
5,326
4,561
5,651
5,883
3,015
3,568
3,893
4,750
4,907
3,553
17
291
3
72
109
10
66
1
4,222
20
274
3
87
112
9
64
7
3,419
13
320
4
101
129
8
61
3
4,380
22
187
3
100
127
7
61
2
4,643
14
334
3
83
119
8
64
6
1,965
12
228
38
107
78
13
82
17
2,288
22
281
41
124
85
13
88
18
2,584
14
313
59
139
106
13
93
17
3,114
15
217
39
132
93
13
96
17
3,281
18
255
45
121
85
13
97
12
246
255
1
229
298
1
218
284
1
433
327
2
289
318
1
282
158
34
375
191
43
321
207
30
643
267
51
609
300
72
7
8
5
6
7
-7
-158
-7
-6
-163
-8
-25
-66
-55
-21
-79
-58
-18
-94
-61
-32
-107
-65
-35
-108
-70
-6
-75
-4
-7
-8
-5
-6
-7
-20
-26
-44
-27
-28
-21
1
-21
-5
-21
-23
-21
-6
-23
-6
-142
-56
-20
-67
-164
-78
-19
-67
-133
-48
-19
-67
-151
-53
-19
-79
-69
-58
53
-64
4
-5
1
-26
-27
-2
-5
-5
(*)
-30
-37
3
-28
-26
-2
-114
-193
1
-111
-211
-1
-141
-220
1
-133
-236
-3
-200
-355
-5
1
3
(*)
101
-1,042
-35
7
142
-97
-199
-27
-86
-130
-691
-322
-248
-1,214
-210
-503
79
(*)
-392
-60
-72
-805
-291
25
160
106
(*)
-338 -1,232 -1,264
407
-84
-239
-32
-23
-38
-48
-24
-543
-69
-77
523
104
152
-27
-70
-185
135
16
256
-539
27
-153
-60
-17
-365
77
61
-17
-170
-131
-455
-235
-59
-765
-590
-13
43
-429
-9
-16
86
-76
-39
114
-42
63
—255
-69
-31
-10
{ -8
-7
-227
-18
-73
2
-151
-13
-212
66
-5
104
-9
83
5
410
346
9
-308
4
1,229
12
104
14
1,518
25
2
71
124
4
37
35
65
2
-17
-3
30
1
-1
246
-70
10
15
49
-37
3
79
18
-15
56
-29
6
-25
(*)
111
1
59
84
-48
28
24
-23
145
68
-30
-61
-32
28
401
163
244
1,125
-5
1,319
2,180
-633
-256
-957
-29
...
U.S. private capitalflows,net .
Direct investments abroad *
Foreign securities
41
42
43
47
48
I
I
-4,183 -4,620 -3,824 -4,546 -4,817 . -2,201 -2, 249 -2,244 -2,925 -4,462
-32
-34
-73
-34
-41
-45
-42
-36
-39
-34
-535
-468
-427
-461
-102
-118
-495
-280
-173
-603
-24
-33
-20
-36
-23
-101
-64
-97
-98
-55
-87
-73
-80
-68
-68
(*)
-21
-17
-20
-18
-17
-1
-1
-1
-1
-1
-2
-1
-1
-1
-2
-65
-68
-71
-64
-68
-59
-66
-59
-61
-63
-54
-45
-42
-4
-53
-3
-45
-3
-3
-3
28
38
39
40
IV
1974 *
-4,609 -5,255 -4,793 -5,123 -5,336 -3,024 -3,085 -3, 130 -3,795 -5,485
16
17
18
19
20
21
22
23
24
36
37
1973
1974 *
-165
4
(*)
-350
A
-342
-96
-5
-8
-117
-6
74
3
-'f8
50
(*)
C)
987
-265
226
-190
377
966
4. Includes interest, dividends, and branch earnings; 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. 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.
SURVEY OF CURRENT BUSINESS
June 1974
55
Transactions, by Area—Continued
dollars]
Japan 9
Australia, New Zealand and South Africa
1973
I
1974 v
1973
Other Countries in Asia and Africa
1974 9
9
III
IV
2,424
2,610
2,709
2,964
3,460
792
810
938
1,074
1,867
7
86
69
94
39
67
21
18
2,049
23
67
61
115
43
69
21
9
2,085
9
97
74
118
46
71
21
60
2,355
8
84
60
112
46
73
21
18
2,699
9
125
96
132
42
75
21
10
478
16
12
10
20
63
8
10
(*)
500
49
20
24
27
47
8
12
1
579
79
30
28
30
49
9
14
(*)
692
46
17
20
27
63
10
15
(*)
76
71
9
59
87
8
27
97
5
61
120
5
95
148
8
146
18
10
89
22
12
99
20
2
147
25
12
(*)
(*)
-2,949
-3, 111
-3, 169
-3,050
-3,046
-461
-580
-632
-702
-613 -2,958 -3,307 -3,714 -3,906 -5,021
-2,312
-219
-19
-18
-91
1
-2
-8
-6
-2,403
-230
-37
-28
-101
-1
-3
-9
-6
-2, 513
-184
-40
-28
-106
-1
-4
-11
-6
-2,422
-185
-27
-10
-108
1
-5
-11
-7
-2, 471
-202
-22
-17
-109
1
-5
-11
-7
-351
-6
-18
-16
-11
-439
11 -27
-14
-21
-12
-499
-4
-15
-21
-13
-560
-5
-11
-18
-13
(*}
(*)
-5
-462 -2,345 -2, 666 -3, 073 -3, 124 -3,765
-216
-185
-5
-200
-281
-291
-85
-86
-25
-82
-120
-81
-12
-25
-18
-30
-25
-13
-121
-122
-122
-14
-99
-110
i
(*\
(*)
(*)
(*)
(*)
(*)
•
-15
-5
-17
-17
-14
-13
-56
-55
-56
-57
-8
-57
5
-76
-203
-17
-91
-185
-2
-99
-175
-28
-98
-151
16
-77
-142
(*)
(*)
-13
(*)
-11
(*)
(*)
(*)
-8
2
-4
-6
-9
113
-53
-8
212
-47
9
63
111
76
174
-1,438
-105
99
-127
-14
51
-21
102
21
12
-1,047
-364
24
-426
238
10
-17
-26
I
II
(*)
-3
-7
III
(*)
I
4,596
5,921
7,472
2,874
198
49
48
193
56
7
83
30
3,337
818
30
32
203
68
7
90
40
3,770
369
35
35
226
61
7
89
37
75
14
80
13
82
15
55
(*)
57
(*)
760
94
115
859
108
90
1,034
130
133
2,579
155
109
22
54
1
731
696
443
291
II
III
1,121
3,583
4,130
819
17
14
13
26
59
10
15
(*)
2,160
172
29
28
187
53
8
67
35
2,508
212
31
32
195
63
7
75
39
122
24
2
657
85
102
597
-8
(*)
-5
-7
-1
-17
-31
-1
-21
-34
-1
-28
-40
-39
-42
-1
-35
-41
-1
-39
-20
597
731
696
443
-6
-7
-8
-7
-7
-2
-6
-2
-6
-2
-5
-2
-5
-682
-506
-40
-136
-549
-376
-41
-132
-789
-307
-40
-442
2
-2
-561
-389
-39
-134
21,602
-593
12-180
Q
-1
-1
-50
-22
-1
-64
-18
-193
-81
-17
-10
-7
-9
2
-4
-7
-76
-77
-17
-40
9
8
-43
12
12
-31
-1
27
-44
(*)
4
-18
-1
33
-21
3
-6
-8
1
-327
-555
-27
-407
-601
-42
-128
-387
30
-860
-425
-618
40
44
71
23
51
2
255
236
229
(*)
182
-704
-20
86
-1,875
-324
118
16
1
13
16
20
46
-31
2
-110
-96
3
-158
-96
(*)
-676
-333
-51
-646
-299
-57
97
215
-12
60
70
-120
9
-380
-219
-3
-1, 159
-296
7
29
5
-1
2
-26
52
25
23
-2
-15
18
35
-81
-6
-131
-154
22
-118
-120
-43
-13
-3
16
-14
-57
-83
11
-128
-64
3
-202
-12
-20
2
-8
10
-3
-22
-8
-10
1
-11
-27
-2
-855
(*)
-3,040
310
-504
2
-2,455
-3
238
9
-134
4
223
17
75
-66
12
-35
-236
2
46
178
83
28
206
98
4
40
17
172
52
60
65
169
-121
-48
-108
-8
13
56
",
20
"-.6
°-a
-1, 189
-3,698
-806
-2, 517
275
-166
-4
-5
6
(*)
14
(*)
I
IV
I
I
IV
A
6
18
27
23
-1
13
32
185
93
3
-660
-76
-27
III
II
219
IV
221
1
88
14
87
10
60
1
62
1
64
(*)
2
3
4
5
6
7
8
9
10
11
12
-8
11
53
142
12
7
53
1
11
12
13
-271
-401
-341
165
221
318
14
-238
-296
15
-13
-169
-13
-195
-14
-217
-12
-195
-14
-197
-7
-10
-100
-53
-14
16
17
18
19
20
21
22
23
24
-19
-30
-25
-28
-41
-30
-49
-32
-39
-34
25
26
27
-42
-42
-83
-83
-21
-21
-56
-56
-83
-83
29
30
31
32
-38
-38
-45
-48
-35
-35
-56
-59
33
34
35
3
36
37
-263
-274
12
38
39
40
-1
41
42
43
28
291
-2,625
2-2,405
-41
-178
12
Line
I
-41
-44
3
2, 375
3
-971
-107
-283
673
1,400
-76
-322
-344
22
-82
87
21
-126
-315
-11
-10
-369
-176
(*)
-4
-4
-61
-71
-4
-124
-6
-90J
-1
235
81
438
139
793
212
753
110
2,097
126
166
75
241
-186
2
-8
19
1
25
-3
45
2
6
1
-46
510
44
3
71
194
18
28
149
675
4
12
78
135
-164
192
-250
112
346
53
254
1,226
114
88
-60
405
-378
25
10
100
-13
17
-13
-15
-209
(*)
-15
-209
(*)
} -
1974 v
1973
1974 P
1973
II
I
International Organizations and
Unallocated
192
173
19
(*)
(*)
-121
-127
7
8
313
255
58
(*)
(*)
44
45
46
176
9
-13
8
-13
311
-148
304
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
2,711
3,465
1,075
3,273
1,225
-219
-485
-423
-300
-102
8. "Other Western Europe" excludes the United Kingdom and the "E.E.C. (6)" through
1972. Beginning in the first quarter of 1973 "Other Western Europe" excludes the "E.E.C.
9. 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".
10. Includes transactions with shipping companies operating under the flags of Honduras,
Liberia and Panama.
705
474 -1,096
-149 -1,498
-424
872
64
11. Includes return import into the United States, at a depreciated value, of $21 million in
1972-IV and $22 million in 1973-11, of aircraft originally reported in 1970-III in line 3 as a
long-term lease to Australia.
,. _ .._
. . T, a
12. Includes extraordinary U.S. Government transactions with India. See "Special U.b.
Government Transactions" in text of article.
NOTE.—Details may not add to totals because of rounding.
Source: U.S. Department of Commerce, Bureau of Economic Analysis.
SURVEY OF CURRENT BUSINESS
56
June 1974
Table 9a.—^International Transactions, by
[Millions of
B elgium-Luxembourg
Line
1972
1971
Exports of goods and services 2
.
.
..
---
3
8
9
10
Merchandise adjusted excluding military
Transfers under U S military agency sales contracts
Travel
Passenger fares
Other transportation
Fees and royalties from affiliated foreigners
Fees and royalties from unaffiliated foreigners
Other private services
-U.S. Government miscellaneous services
11
12
13
Receipts of income on U.S. investments abroad:
Direct investments 4
Other private assets
U.S. Government assets
i
6
--
-
-- --- - - ---- - -- ---
- -- -
-- --
- -
Transfers of goods and services under U S military grant programs, net
_.
16
17
18
19
20
21
22
23
24
Merchandise adjusted excluding military 3
- -...
Direct defense expenditures
--- --- - - - - -Travel
..
Passenger fares
-- Other transportation
Fees and royalties to affiliated foreigners
Fees and royalties to unaffiliated foreigners
--- - Private payments for other services
U.S Government payments for miscellaneous services
25
26
27
Payments of income on foreign investments in the United States:
Direct investments *
-Other private liabilities
U S Government liabilities
-
28
U.S. military grants of goods and services net
29
30
31
32
Unilateral transfers (excluding military grants of goods and services), net
U.S. Government grants (excluding military 'grants of goods and services) - _ _
U.S. Government pensions and other transfers
Private remittances and other transfers
--
33
U.S. Government capital flows, net
Lo ans and other long-term assets
Foreign currencies and other short-term assets net
36
37
Repayments on credits:
Scheduled
Nonscheduled 5
-
-
--
- -
--- -- - - - --- - --- -
- _ ..
- -
2,297
3,147
1,057
11
11
6
43
72
8
12
1
1,127
8
12
5
42
81
8
12
1
1,620
5
15
7
55
102
8
18
2
1,410
9
48
25
91
122
44
41
20
1,636
5
63
28
98
152
42
45
10
2,326
4
76
36
131
191
41
36
6
91
12
-2
92
9
-9
120
19
-51
141
33
7
170
39
9
215
72
13
.
-.
--
-
--
Direct investments abroad
Foreign securities
41
42
43
Claims reported by U.S. banks:
Long-term
Short-term, nonliquid
Short-term, liquid
44
45
46
Claims reported by U.S. nonbanking concerns
Long-term
.-- -- --S hort-term, nonliquid
- - - Short-term, liquid
- - -.-
4
.-.
-1,743
-2, 155
-2,715
-846
-40
-22
-20
-34
-1
-6
*
-7
-970
-46
-31
-24
-41
-1
-6
-6
-7
-1,261
-57
-25
-28
-51
-1
-9
-10
-10
-1, 094
-20
-169
-105
-64
(*)
-12
-20
-28
-1,385
-17
-200
-130
-72
-22
-21
-1, 726
-16
-237
-126
-88
-1
-16
-19
-31
-3
-69
-26
-5
-77
-30
-5
-116
-50
-10
-125
-96
-22
-136
-136
-29
-173
-253
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
-9
-9
-11
-42
-39
-41
-2
-7
-2
-7
-3
-8
-10
-32
-11
-28
-13
-28
--
.
..
- - - - - - - - - - -
- . - .
. --- -
--
-
- -
-
--
--- - --- -
-- --
Foreign capital flows, net
48
U.S. Government nonliquid liabilities to other than foreign official reserve agencies
49
50
51
52
53
54
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
55
56
57
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
-
. . _..
- -
--
-
Errors and omissions and transfers of funds between foreign areas, net
p 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.
Debts, —: 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
^ '^iiments, and imports of goods included under direct defense expenditures identified
-2
-8
-32
-7
-11
1
-34
-2
-63
1
-43
5
8
8
8
28
30
31
-202
-153
-158
-529
-253
-818
-177
3
-143
55
-117
20
-246
-26
-164
24
-388
-15
-9
3
-10
5
-65
2
-4
-24
-4
-39
-128
-26
-20
-44
-23
-25
-93
-199
-3
-3
-8
-18
-4
-34
-26
-3
-37
14
-29
-79
10
2, 133
-167
(*)
7
263
7506
775
M.004
7
-9
7 -5
1
7-16
- -
-17
87
88
17
-51
168
-7
17
259
150
-43
37
-
97
396
391
-12
-20
-
7
-4
8
18
144
-39
9
-17
787
27
54
136
653
8
-15
888
1,286
-957
-1,951
601
7
-
--
108
2
(*)
-2
2
- --
-414
473
473
110
SDR
Allocations of special drawing rights (SDR)
6
-2
(*)
--
Gold
64
6
-.,
Transactions in U S official reserve assets net
63
-u
-
--- -
Convertible currencies
Gold tranche position in IMF
W
-4
2
(*)
-1
-11
-- -
n.a.
-1,623
-
- - --- --- - -- - -
n.a.
n.a.
-1,244
--
U.S. private capitalf l o w s ,n e t
n.a.
n.a.
-1,074
-
--
39
40
1,991
- - - --
38
59
60
61
62
-
1973 P
1,920
n.a.
_
-- --- ---
1972
1971
1,388
- - --
.
- ---
1973 v
1,322
-
Imports of goods and services
34
35
-
-
--
14
58
--
-- -
-
15
47
France
(Credits+; debits-) »
-496
(*)
-901
-1,146
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.S.
incorporated affiliates of foreign firms.
5. Includes sales of foreign obligations to foreigners:
6. Includes return import into the United States, at a depreciated value of $21 million in
1972 and $22 million in 1973, of aircraft originally reported in 1970 in line 3 as a long-term
lease to Australia.
SURVEY OF CURRENT BUSINESS
June 1974
57
Selected Countries (published annually)
dollars]
Germany
Italy
Mexico
Netherlands
South Africa
Australia
Line
1971
1972
4,227
4,129
5,625
1,756
1,919
2,702
2,126
2,051
3,132
2,627
3,008
4,205
1,575
1,495
2,294
781
765
964
1
2,559
589
79
40
153
158
61
42
11
2,762
211
93
41
154
183
57
56
14
3,814
316
137
59
194
238
69
51
10
1,294
55
33
19
83
100
33
31
4
1,420
35
40
20
98
104
37
42
4
2,152
25
46
23
114
120
38
36
5
1,699
11
22
10
135
53
15
20
4
1,682
15
23
11
145
65
15
31
5
2,566
21
27
13
189
76
16
20
4
1,619
(*)
593
1,985
(*)
620
2,961
(*)
694
25
74
13
39
3
32
74
13
43
3
38
82
15
51
3
959
44
28
34
44
117
13
27
(*)
810
53
36
40
45
139
16
31
1
1,251
183
53
53
53
159
20
36
1
621
(*)
4
3
25
42
9
5
(*)
601
(*)
4
4
28
40
9
5
(*)
745
(*)
7
6
38
54
12
7
(*)
2
3
4
5
6
7
8
9
10
471
43
21
497
51
10
704
61
-28
65
24
15
79
26
14
82
47
14
110
46
1
22
36
1
145
51
4
123
118
20
96
123
19
164
177
20
241
44
24
255
52
17
390
62
33
59
13
(*)
60
14
(*)
73
22
(*)
11
12
13
n.a.
-6,235
1973 P
1972
1971
n.a.
n.a.
-7,417
-9,461
n.a.
n.a.
-2,053
-2,473
1973 P
n.a.
-2,757
1971
n.a.
-1,073
1971
1973 P
1972
1972
n.a.
1973 *
1972
1971
n.a.
1973 P
n.a.
n.a.
14
-309
-355
-412
15
-288
-1
-5
-6
(*)
(*)
-1
-5
-325
-1
-8
-1
-9
(*)
(*)
-1
-6
-375
-1
-7
-1
-11
(*)
-1
-2
-6
16
17
18
19
20
21
22
23
24
(*)
-102
-146
(*)
-2
-1
-2
-1
-1
-3
-3
-2
25
26
27
n.a.
-2,349
-2,871
-3,693
-826
-1,027
-62
-63
-119
-107
-3
-3
1
-4
-1,262
-1
-897
-1,632
-1
-1,037
-2, 288
-1
-1,152
-33
(*)
(*)
-116
-11
-43
(**
(*)
-122
-10
-55
(*)
(*)
-132
-12
-622
-33
-35
-37
-27
(*)
(*)
-15
-19
-805 -1,067
6-40 e-37
-36
-35
-44
-50
-32
-27
(*)
(*)
(*)
(*)
-14
-14
-22
-18
-92
-142
-109
(*)
-28
-1
(*)
-25
-1
(*)
-52
-1
(*)
-22
-16
(*)
-28
-58
n.a.
-1,269
-1,730
n.a.
1973 P
n.a.
n.a.
n.a.
1972
1971
n.a.
-1,069 -1,506
-3,680
-1,265
-126
-107
-237
-6
-29
-29
-24
-4,308
-1,380
-163
-126
-274
-9
-29
-32
-27
-5,538
-1,478
-170
-125
-336
-17
-37
-33
-31
-1,416
-117
-178
-94
-87
(*)
-5
-22
-11
-1,763
-131
-215
-110
-114
-1
-5
-25
-10
-1,991
-128
-218
-111
-140
-1
-8
-28
-13
-565
-53
-44
-100
-66
4
-3
2
-3
-687
-52
-57
-110
-89
5
-3
-3
-19
-150
-563
-21
-149
-899
-10
-187
-1,499
-5
-57
-61
-6
-57
-36
-8
-83
-28
-97
-133
-11
-104
-135
-30
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.
28
Ill
187
215
-12
-8
-7
-7
-3
-9
-143
(*)
-43
-100
-17
-3
-8
-105
—1
-35
-69
-13
-3
-7
-92
(*)
-29
-63
-15
-65
280
-137
(*)
-84
-53
-11
-22
209
-117
(*)
-72
-45
-10
-43
154
-114
(*)
-65
-49
-4
-11
-4
-9
-5
-12
-1
-7
-1
-6
-1
-6
29
30
31
32
A
42
28
-2
8
13
-11
-3
-37
-54
16
11
4
-18
-12
83
1
-2
2
33
— 10
-28
-15
26
— 14
2
—64
1
—40
-2
—56
(*)
—2
-1
—39
2
—53
-2
—31
1
—35
(*)
—50
-2
— 112
-1
—92
(*)
—96
(*)
1
-2
2
34
35
8
72
10
7
10
71
55
45
1
47i
46
55
1
95
80
179
(*)
(*)
(*)
36
37
-600
-677
-954
-380
-161
-270
-82
69
-75
-92
-477
-364
-446
-360
112
-172
-44
-120
38
-488
-7
-647
33
-886
-1
-331
13
-52
33
-187
-92
82
-81
184
-116
74
-48
-19
-75
-91
-52
-18
-275
27
-208
23
-7
29
-47
3
-22
(*)
-82
-2
39
40
-67
-19
-30
2
-59
-27
8
-28
-53
-5
-16
-94
-1
-11
9
-19
-42
4
-41
-3
-7
-12
9
-8
15
-40
-5
-15
-12
-10
-251
-17
-60
-168
1
-80
-89
-5
-5
-115
-18
74
30
18
-30
-73
-7
-20
11
3
-18
11
2
41
42
43
14
7
-5
-81
2
48
-16
-8
-15
-22
6
-15
-30
1
-21
-15
4
-10
-15
1
26
-22
-4
(*)
2
-35
-16
-51
-19
-5
-23
-14
-19
-13
-5
-13
-3
-13
-20
-11
44
45
46
4,071
4,714
7,870
7 -475
135
-243
71,688
1,898
122
499
7
47
-332
-134
84
7 -51
7 _31
19
7 -10
7 -13
22
52
292
—44
-23
31
225
-205
40
-172
-19
18
71
13
83
41
25
11
-8
114
—18
-16
-1
113
—48
29
278
121
-139
43
429
78
-46
4,130
4,752
7,882
558
-549
66
-492
1,197
-4
5
6
-2
-2
-5
43
-4
-12
27
(*)
(*)
7
667
33
7
} '
-134
7
403
7
2, 121
169
7 -40
7 -52
-79
(*)
-24
24
-29
(*)
(*)
(*)
5
5
2
16
114
476
472
(*)
(*)
81
348
7
22
(*)
—9
(*)
(*)
(*)
1,418
-125
(*)
U
(*)
3
(*)
3
(*)
11
12
(*)
(*)
48
(*)
-5
6
6
49
50
51
52
53
54
29
5
60
73
-3
(*)
-1
—1
-23
2,139
115
-5
37
(*)
-22
(*)
(*)
25
—20
20
58
-20
20
59
60
61
62
-2,471
-3, 179
25
-2
-5
43
-1,614
-959
-3,336
(*)
(*)
55
56
57
63
116
1,294
338
-740
7. Prior to 1973 line 48 excludes all military cash receipts from Belgium-Luxembourg,
France, Netherlands and Australia 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
24
312
-508
-673
-2, 162 -1,135
-296
-369
-434
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
58
June 1974
Table 10.—Summary of Known Current and Long-term Capital Transactions, by Area
]
[Millions of dollars]
197 3
Receipts by foreign areas (— )
Line
1 All areas, balances on: 2
1
Merchandise trade
_
.. ,
Goods and services
3
Goods services and remittances
4
Current account - _
5
Current account and long-term capital 3
1971
-2, 722
—170
—1,774
_ _ _ _ -3,817
-10, 559
0
6
7
8
9
10
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
_-
-
.
-
.
-6, 986
—6,009
-7, 634
-9, 807
-11,235
1973
I
1974
III
II
IV
IP
623
4 543
2,600
667
-744
-586
487
109
-266
-1,051
-98
233
—182
-867
-1, 179
-175
—169
-597
1,045
250
1,482
3 993
3,270
2,845
1,237
893
4,016
3,646
1,091
2,456
1,078
-2, 219
-2, 310
—2 310
—2, 140
238
-222
-235
-235
-515
169
-859
-891
—891
-862
95
-1,048
-1,071
-1,071
-73S
576
-91
-114
—114
-26
943
263
243
243
-770
4
11
12
13
14
15
United Kingdom, balances
on:
Merchandise trade 2
Goods and services
- _
Goods, services and remittances
Current account
Current account and long-term capital 3
16
17
18
19
20
European Economic Community
(6), balances on: 5
Merchandise trade 2 _ -. .
Goods and services
Goods, services and remittances
Current account _
. .
Current account and long-term capital 3 -
.
_
-214
-919
—975
-975
542
252
-296
-368
-368
-66
-10
13
-2
-2
215
8
-182
-200
-200
-347
35
-269
-288
-288
-31
219
143
122
122
98
209
59
39
39
-436
419
—719
-784
-784
-1,352
-484
—2, 734
-2, 724
-2, 724
-2, 157
925
—1,724
-1,709
-1,709
-1,781
255
-220
-212
-212
-696
184
-627
-631
-631
-451
112
-677
-673
-673
-584
374
-199
-193
-193
-50
787
259
268
268
-228
433
-391
—644
—675
-120
31
-1,123
-1,397
—1, 338
-181
714
-852
-1,128
-1,050
-186
204
-61
-124
-15
329
115
-347
-417
-435
-313
33
-507
-582
-587
-419
362
63
-5
-14
217
605
340
274
266
7
184
192
172
167
166
499
497
471
471
375
1,321
1,360
1,333
1,333
707
341
353
347
347
127
428
439
431
431
158
309
307
301
301
225
243
262
254
254
197
110
148
140
140
166
-1, 760
-321
-453
-453
-1, 038
-1, 972
-305
-426
-426
-1, 488
-1, 599
380
262
262
-591
-630
14
-6
-6
94
-398
71
45
45
-262
-405
-233
-277
-277
-360
-166
528
500
500
-63
-174
547
519
519
-225
346
1,818
1,543
1,274
31
162
1,239
947
713
-662
332
2,192
1,836
1,602
483
-236
-9
-96
-152
-368
39
483
397
319
-92
340
764
678
630
597
189
955
857
804
346
-1,181
-578
-589
-647
-522
__-_ -_
--
-3, 225
-3, 427
-3, 475
-3, 475
-4, 330
-4, 113
-4, 779
-4,822
-4, 821
-4, 439
-1,294
-1, 571
-1, 614
-1, 612
217
-445
-525
-535
-532
-96
-354
-501
-510
-510
368
-428
-460
-473
-473
-139
-67
-86
-96
-96
83
228
414
403
405
113
--
554
1,127
1,104
1,104
661
138
717
694
694
431
400
1,237
1,209
1,209
1,195
127
330
325
325
347
61
229
222
222
296
80
306
298
298
281
132
371
364
364
272
357
507
501
501
431
400
2,069
1,344
-205
-2, 937
-1,033
1,369
569
-1, 154
-3, 214
-329
4,345
3,340
1,764
11
-185
624
452
63
-680
-158
823
646
141
-552
-199
883
710
334
1,038
213
2,015
1,533
1,226
206
5
2,451
2,231
8 -174
8 3, 434
200
200
10
-926
29
29
-248
-474
-328
-328
-530
-510
-19
-19
-60
-326
-106
-106
-189
74
-180
-180
-201
-273
-24
-24
-80
15
-75
-75
-158
-115
--
-
.
_____
,
...._.__
21
22
23
24
25
26
27
28
29
30
Eastern Europe, balances
on:
Merchandise trade 2
Goods and services
Goods, services and remittances ..
Current account
Current account and long-term capital 3
31
32
33
34
35
Canada, balances on: 2
Merchandise trade
Goods and services - .
Goods, services and remittances
Current account
Current account and long-term capital 3
36
37
38
39
40
Latin American Republics
and Other Western Hemisphere, balances on:
Merchandise trade 2 ,
... .
Goods and services
Goods, services and remittances
Current account
.
.-----._
Current account and long-term capital 3
41
42
43
44
45
Japan, balances on: 7 2
Merchandise trade
Goods and services
Goods, services and remittances
Current account
Current account and long-term capital 3
46
47
48
49
50
Australia, New Zealand,2 and South Africa, balances on:
Merchandise trade
Goods and services
Goods, services and remittances
Current account
Current account and long-term capital 3
51
52
53
54
55
Other countries in Asia2and Africa, balances on:7
Merchandise trade
Goods and services
Goods services and remittances
Current account
Current account and long-term capital 3
56
57
58
59
60
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
-
-73
-717
—779
-779
-809
_ . _.
Other Western Europe,2 balances on: 6
Merchandise trade
. _. .
Goods and services
Goods, services and remittances
Current account
Current account a n d long-term capital 3
. _ .
_
.---.___
,
_.. _
.._ -.
-
_ _ _
-_
-
- - -
-
-
--- -
- --
v 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, ommissions, 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
Go">ds 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
of dollars): 1971 year, 95; 1972 year, 33; 1973 year, 71; 1973-1, 36; 1973-11, 6; 1973-III, 39;
1973-IV, -10; 1974-1, -68.
2. Adjusted to balance of payments basis; excludes exports under U.S. military agency
sales contracts and imports under direct defense expenditures.
1972
--
--
-- --
—
- -- -
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)" includes Belgium, France, Germany, Italy,
Luxembourg, and the Netherlands.
6. "Other Western Europe" excludes the United Kingdom and the "E.E.G. (6) through
the fourth quarter of 1972. Beginning in the first quarter of 1973 "Other Western Europe
excludes the "E.E.G. (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
8. The current account balance reflects the effect of a U.S. Government grant of $2.0
billion (in rupees) to India. This was offset in the balance on current account and long-term
capital by the repayment by India (in rupees) of loans previously extended by the U.b.
Government.
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 1974
Table lOa.—Summary of Known Current and Long-term Capital Transactions, by Selected
Countries 1 (published annually)
until a new pattern emerges, seasonal
adjustments will be based on recent
historical patterns.
[Millions of dollars]
[Receipts by foreign areas (— )]
Line
1970
1971
1972
1973 v
Belgium-Luxembourg, 2balances on:
Merchandise trade
Goods and services
Goods, services and remittances
- Current account
Current account and long-term capital 3
491
488
479
479
440
211
248
239
239
211
157
144
135
135
163
359
297
286
286
547
6
7
g
9
10
France, balances on: 2
Merchandise trade
Goods and services - -. _
Goods services and remittances
Current account
3
Current account and long-term capital
596
476
439
439
331
316
248
206
206
—10
251
142
103
103
701
600
432
391
391
732
11
12
13
14
15
Germany, balances on:2
Merchandise trade _ _
Goods and services
_Goods services and remittances
Current account
Current account and long-term capital 3_
-506
-1, 359
— 1, 270
— 1, 270
-1,172
-1, 121
-2,008
—1, 897
-1,897
-2, 453
-1,546
-3, 288
—3, 101
-3, 101
-3,754
-1,724
-3, 836
-3, 621
-3, 621
-4, 596
16
17
18
19
20
Italy, balances on:
Merchandise trade 2
..
- - _ _ _ _ _ _ _ - _ _
Goods and services
Goods services and remittances
------Current account
- --. _
Current account and long-term capital 3
22
-81
-122
-297
-411
-411
-615
-343
-554
-671
-671
-663
-192
-192
-276
21
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
935
925
925
912
1,134
1,053
1,043
1,043
1,401
995
782
771
771
26
27
28
29
30
Mexico, balances on: 2
Merchandise trade
Goods and services
Goods services a n d remittances
-Current account
Current account and long-term capital 3
483
492
408
407
385
357
278
186
186
121
-128
673
512
369
369
234
31
32
33
34
35
Australia, balances on:2
Merchandise trade
Goods and services
- - Goods services and remittances
Current account
Current account and long-term capital 3
291
755
741
741
428
337
749
734
734
329
5
426
413
413
165
184
788
771
771
912
36
37
38
39
40
South Africa, balances 2on:
Merchandise trade
.
Goods and services
Goods services a n d remittances
Current account
-- Current account and long-term capital 3
273
434
429
429
393
333
472
464
464
397
276
410
403
403
354
370
552
545
545
426
1
2
3
4
5
__
-187
-187
-26
1,059
-
--
- . - .
. - -
-
_ - _ . -
_ _ _ _ _ _ _
- - - _ - _ _ ^_
_ _ _
.
. _ .
1,357
353
137
33
32
59
Geographic detail
In addition to the usual statistics on
U.S. international transactions with
geographic areas (tables 9 and 10),
estimates on transactions with Belgium
and Luxembourg, France, Germany,
Italy, Netherlands, Mexico, Australia,
and South Africa for the years 1971-73
are shown in tables 9a and lOa. Estimates for Australia and South Africa
are published for the first time in this
issue of the SURVEY; estimates for the
European countries and for Mexico for
the years 1968-72 were published in the
June 1972 and 1973 SURVEY articles.
161
-55
U. S.—Canadian
current account
1,539
1,402
1,390
1,390
1,770
reconciliation
of
Reconciliation of the 1971-72 bilateral current accounts in the balance of
payments statistics of the United States
and Canada was completed in the
spring of 1974. (The 1970 reconciliation
was completed a year earlier.) On the
basis of the conceptual framework established for the study, the results were
as follows:
(Billions of U.S. dollars)
Reconciled U.S. pubdata
lished data
NOTE.—Balances are derived from data in table 9a. For footnotes see table 10.
Source: U.S. Department of Commerce, Bureau of Economic Analysis.
Balance on current account
(U.S. surplus +, Canadian
surplus -)
(Text continued from p. 29)
been revised to incorporate new information. Using the revised data,
seasonal adjustments for most accounts
were recalculated by extending through
1973 the period used to derive adjustment factors. The data and seasonal
adjustments for 1972 and 1973 were
subject to the most extensive revisions.
Direct investment income receipts
in particular were substantially revised
for the period 1966-1973 to adjust
for the overstatement of petroleum
earnings (see Highlights and Perspec-
1970
tives—Transactions of U.S. Petroleum
Companies). Receipts and payments of
direct investment fees and royalties,
previously included in the income
accounts, were shifted to the "other
services" accounts.
Seasonal patterns for U.S. direct
investments abroad (table 3, line 39)
and long-term liabilities reported by
U.S. nonbanking concerns (table 3,
line 51) may change in 1974 due to the
removal of U.S. controls on capital
outflows late in January. However,
1971.
1972
-.
.
-0.1
-0.6
0.2
-0.4
0.3
-0.4
Some revisions based on the reconciliation have been incorporated in the
published series; other revisions will be
made after completion of the comprehensive reconciliation of 1973 trade
statistics now underway. Because of
conceptual differences, however, it is
not possible to fully substitute the
reconciled data for the published data.
U. S. GOVERNMENT PRINTING OFFICE : 1974 O - 550-325
CURRENT BUSINESS STATISTICS
J.HE STATISTICS here update series published in the 1973 edition of BUSINESS STATISTICS, biennial statistical supplement to the SURVEY
OF CURRENT BUSINESS. That volume (available from the Superintendent of Documents for $5.15) provides a description of each series, references
to sources of earlier figures, and historical data as follows: For all series, monthly or quarterly, 1969 through 1972 (1962-72 for major quarterly
series), annually, 1947-72; for selected series, monthly or quarterly, 1947-72 (where available). Series added or significantly revised after the 1973
BUSINESS STATISTICS went to press are indicated by an asterisk (*) and a dagger (f), respectively; certain revisions for 1972 issued too late for
inclusion in the 1973 volume appear in the monthly SURVEY beginning with the August 1973 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 1973 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.
1971
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes areas shown in
the 1973 edition of BUSINESS STATISTICS
1972
1971
1973
I
1972
III
II
IV
I
II
1973
| III
I
IV
II
1974
III
IV
I
Annual total
Seasonally adjusted quarterly totals at annual rates
GENERAL BUSINESS INDICATORS—Quarterly Series
NATIONAL INCOME AND PRODUCT
Gross national product total
bil. $
1 027.2 1,046.9
1,063.5
1,084.2
1,112.5
1,142.4
1,166.5
1,199.2
1,242.5
1,272.0
1,304.5
1,337.5
1, 352. 2
650.0
662.2
673.0
683.4
700.2
719.2
734.1
752.6
779.4
795.6
816.0
825.2
844.6
130 8
57 8
54.5
100 3
44.7
41.3
101 9
45.5
41.6
105 4
48.3
41.9
106 7
47.8
43.6
111.5
49.4
46.6
115.1
51.2
47.3
120.2
55.0
48.6
122.9
55.7
50.0
132 2
60 5
53.7
132.8
59.7
54.4
132.8
59.2
55.0
125.6
51.8
55.0
125. 0
48.3
57.3
299.9
62.3
145 3
25 5
335 9
69.7
161 4
29 1
273.5
55.7
134 1
22 9
57.0
136 2
23 1
279.8
57.4
137 6
23 6
283.5
58.1
138.4
24.5
288.8
59.4
141 0
24.7
297.9
61.7
144 7
25.0
302.3
62.9
146 5
25.8
310.7
65.1
149 1
26.6
322 2
68.3
154 7
27 5
330.3
69.3
158.1
28.8
341.6
70.3
164.3
29.4
349.6
70.8
168.3
30.5
362. 3
73.4
173.6
32.1
284 9
39 7
98.5
20 4
309 2
43 8
105.5
21 8
337 3
48.0
114. 5
23 4
276 1
38 4
95.4
19 4
282 3
39 3
97.6
20 1
287
40
99
20
293.2
40.7
101.4
21 2
300 0
41.8
103.1
21 6
306.2
43.2
104.7
21 7
311 6
44.5
106.3
21 8
319.0
45.7
107.9
22 2
325 0
46 5
110.6
22 8
332.6
47.1
113.3
23.2
341.6
48.7
115.8
23.7
350.0
49.5
118,4
24.1
357.3
49.8
121.5
25.2
1,055.5
1,155.2 1,289 1
Personal consumption expenditures, total.. do
667.2
726.5
804.0
Durable goods total 9
do
Automobiles and parts _ _ _
do
Furniture and household equipment.. -do
103 6
46 6
42.1
117 4
52.8
48.1
Nondurable goods, total 9
Clothing and shoes
Food and beverages
Gasoline and oil
-- -do
do
do
. do
278 7
57.0
136 6
23 5
do
do
do
do
do
Services total 9
Household operation
Housing
Transportation
-
..
153 2
178.3
20^ 1
145.5
152.7
153.8
160.8
167.5
174.7
181.5
189.4
194.5
198.2
202.0
213.9
198. 9
147 1
do
104 4
do .
do_ __ 37.9
do
66.5
42 7
- -.do
42 2
do_ __
do
6.1
do
4.5
172 3
118 2
41.7
76.5
54 0
53 5
6.0
5.6
194 2
136 2
48.4
87.8
58 0
57.4
8.0
7.3
138 5
101.4
37.0
64.4
37 1
36.6
7.0
5.8
145 0
103.6
37.6
66.0
41 5
41.0
7.6
6.3
149 5
104.7
38.4
66.3
44 8
44.1
4.3
2.4
155.6
108.0
38.5
69.5
47.5
46.9
5.3
3.5
165.8
114.0
41.0
73.1
51.8
51.2
1.7
1.4
169.2
116.3
41.5
74.9
52.8
52.3
5.5
4.8
172.9
118.3
41.3
77.0
54.5
53.9
8.7
8.4
181.2
124.3
43.0
81.2
56.9
56.4
8.2
7.9
189.9
130.9
45.3
85.5
59.0
58.4
4.6
4.4
193.7
134.1
47.2
86.9
59.6
59.1
4.5
4.4
197.3
138.0
49.5
88.6
59.2
58.6
4.7
3.2
195.9
141.8
51.7
90.1
54.0
53.4
18.0
17.3
193.4
144.1
53. 9
90. 2
49.3
48.6
5.5
5.0
8
66 3
65.5
—4 6
73.5
78.1
5.8
102. 0
96.2
3.8
65.9
62.1
.5
67.1
66.6
11
69.1
68.0
-2.2
63.0
65.2
-5.5
70.3
75.8
-5.7
69.9
75.6
-3.8
74.0
77.7
-3.5
79.7
83.2
.0
89.7
89.7
2.8
97.2
94.4
7.6
104.5
97.0
12.8
116.4
103.6
10.9
130.4
119.4
234.3
98 1
71 6
136.2
255.0
104 4
74 4
150.5
106*6
73.9
170. 5
227.9
96 1
72 3
131.8
231.5
96 7
71.3
134.8
235.5
98 2
70 3
137.3
242.2
101.2
72.4
141.0
250.3
106.0
76.5
144.3
254.2
106.7
76.6
147.5
254.7
102.3
71.9
152.4
260.7
102.7
72.4
158.0
268.6
105.5
74.3
163.0
275.3
107.3
74.2
168.0
279.0
106.8
74.2
172.2
285.6
106.8
73.0
178.8
297. 8
112.1
76.3
185.7
1 020 2 1 039 2 1 059 2 1 078.9 1,110.8 1,136.9 1,157.8 1,191.0 1,237.8 1,267.5 1,299.8
617.6
599.6
555.4
585.0
539.9
515.2
531.0
501.1
482 1
495 2
485 9
246.2
222.8
238.1 242.4
211.4
216.8
196 2
205.5
188 1
192 8
187 4
371.4
357.3
332.5
346.9
304.
9
319.6
323.1
309.7
297.8
302.4
294 7
540.8
527.7
503.9
514.8
491.8
481.5
460.9
471.8
444 0
450 8
433 9
141.4
140.1
126.2
131.7
138.1
124.4
117.0
123.8
113.2
104.1
109.3
4.7
4.5
8.2
4.6
7 o
5.5
8.7
80
5
3
1.7
7 6
4 3
8.0
7.3
10.4
4.4
3.2
5.8
7
8.0
-.9
.4
4 2
4 1
-3.4
-2.2
-2.8
—.1
.3
2.9
2.3
6
2
1.3
29
3 4
37
1,319.4
624.6
241.7
382.8
554.7
140.2
1, 346. 7
635.0
240. 3
394.7
571.8
139. 9
18.0
12.4
5.6
5.5
5.7
-.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
. do.
do
do
Govt. purchases of goods and services, total .do
Federal
do
National defense
.
do. ..
State and local
do
By major type of product:
Final sales total
Goods total
Durable goods
Nondurable goods .
Services
Structures
-
do
do
do
do
- - do
do
1 049 4
491 1
191 1
299. 9
447 4
110.9
do
- . -.do
- do
61
20
41
.
-
-
Change in business inventories
Durable goods
Nondurable goods
8
3
5
6
1 149 1 1,281. 1
606.7
535 4
242. 1
214 1
321.2
364.6
534. 5
487 3
139.9
126.5
6 0
4 9
1l
GNP in constant (1958) dollars
Gross national product total
-
bil.$..
Personal consumption expenditures, total, .do
Durable goods
Nondurable goods
Services
.
do
do
do
_
..
Gross private domestic investment, total. ..do
* Preliminary.
837. 4
735 1
740 4
746 9
759.0
768.0
785.6
796.7
812.3
829.3
834.3
841.3
844.6
831.0
496.3
553. 9
489.5
493.6
498.0
504.1
512.5
523.4
531.0
540.5
552.7
553.3
558.1
551.3
547. 2
92.2
211.6
192.4
104.0
220.9
201.8
114.3
228. 8
210.7
89.3
210.2
189. 9
90.2
211.8
191.7
93.6
211.5
192. 9
95.8
213.0
195.3
99.2
215.0
198.2
101.9
220.7
200.8
105.8
292 2
202^9
109.2
225.8
205.4
117.0
228. 8
207.0
116.2
228. 0
209.1
115.4
230.2
212.5
108.7
228.3
214.3
106.5
226.3
214. 4
110.3
122.9
132.2
106.6
110.3
109.5
114.8
116.5
121.0
124.8
129.1
130.2
130.2
130.8
137.6
124. 5
116.7
82.5
34.2
4.3
118.2
83.4
34.7
6.6
122. 8
87.5
35.3
6.3
126.9
91.2
35.6
3.3
126.9
91.5
35.3
3.4
127.7
93.2
34.5
3.0
125.0
94.5
30.5
12.5
121.0
93.8
27. 2
3.5
105 0
76.1
29 0
5.3
118 3
83.7
34 6
4.6
126.6
92. 6
34.0
5.6
100 7
74.8
25 9
5.8
103 8
75.5
28.3
6.5
105 5
75.6
29.9
4.0
110. 1
78.4
31.7
4.7
4
—2 0
6.7
24
2
.8
-1.6
-3.7
-2.8
-.9
0
2.0
5.6
7.4
11.6
12.5
144.7
143.0
138.4
57. 1
60 8
60 9
82.2
77.5
87.6
9 Includes data not shown separately.
136.7
60 1
76.6
136.7
59.9
76.8
138.6
61.1
77.5
141.6
62.5
79.1
142.7
63.0
79.7
144.0
62.9
81.1
141.8
58.8
83.0
143.5
58.6
85.0
144.4
58.2
86.2
145.2
58.2
87.0
145.0
57.2
87.8
144.1
54.9
89.2
146.8
56.7
90. 1
.
.
do
do
do
do
do
Govt. purchases of goods and services, total .do
Federal
do
State and local
do
Revised.
790 7
526.8
115.4
81.5
34.0
1.1
Fixed investment
Nonresidential
Residential structures
.Change in business inventories
Net exports of goods and services
745 4
s-1
550-325 O - 74 - S-1
SUEVEY OF CURRENT BUSINESS
S-2
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown in
the 1973 edition of BUSINESS STATISTICS
1971
| 1972 | 1973
1971
III
Annual total
June 1974
1972
I
IV
1973
III
II
I
IV
II
1974
IV
III
I
II
III
GENERAL BUSINESS INDICATORS—Quarterly Series—Continued
NATIONAL INCOME AND PRODUCT-Con.
Quarterly Data Seasonally Adjusted at Annual Rates
Implicit price deflators:
Gross national product.
Index, 1958= 100. . 141. 60
134.4
Personal consumption expenditures.
do
Gross private domestic investment:
140.1
Fixed investment
do
Nonresidential
do
137.3
147.5
Residential structures
do _
169.2
Govt purchases of goods and services
do
National income, total
146. 10
137.9
153. 94
145.2
42.39
135.2
42.85
135.6
44.85
136.6
45.42
137.4
46.42
138.2
47.63
139.2
49.81
141.0
52.46
143.8
55.06
146.2
58.36
149.7
62.73
154.3
145.7
141.3
156.3
178.3
153.3
147.1
170.5
191.6
141.7
138.5
149.6
169.9
141.3
137.8
149.9
171.0
143.6
140.0
152.4
175.4
145.0
141.1
154.4
176.6
146.3
141.8
157.0
179.6
147.6
142.1
161.2
181.6
149.7
143.5
165.6
186.0
152.7
146.5
168.6
189.6
154.4
148.1
171.6
192.5
156.7
150.0
177.1
198.2
159.8
153.6
181.2
202.8
869.4
941.8
1,053.9
865.6
882.7
911.0
928.3
949.2
978.6
,015. 0
,038.2
,067.4
,095.1
,108.8
644.1
707.1
785.2
648.8
661.2
684.3
699.6
713.1
731.2
757.4
774.9
794.0
814.7
826.8
573.8
449.7
19.4
104.7
70.3
627.3
493.3
20.3
113.8
79.7
691.4
546.0
20.8
124.6
93. 9
577.6
452.3
18.9
106.3
71.1
588.6
461.7
19.6
107.3
72.6
607.3
476.4
20.9
110.0
77.0
620.8
488.4
20.1
112.3
78.9
632.5
497.5
20.0
115.1
80.5
648.7
510.9
20.1
117.7
82.5
666.7
525.1
20.9
120.7
90.8
682.3
538.7
20.5
123.1
92.6
699.3
553.2
20.4
125.7
94.7
717.2
566.9
21.3
129.1
97.5
726.2
573.3
21.2
131.7
100.6
68.7
51.9
16.8
24.5
74.2
54.0
20.2
24.1
84.2
57.5
26.8
25.1
68.6
52.3
16.3
24.7
70.2
52.7
17.5
24.4
72.5
53.1
19.5
24.1
73.2
53.3
19.9
22.6
74.1
54.3
19.8
24.9
77.1
55.3
21.8
24.9
80.6
56.3
24.3
24.7
81.5
57.1
24.4
24.6
85.0
57.9
27.1
25.3
89.8
58.5
31.3
25.7
88.4
59.3
29.1
25.8
80.1
91.1
109.0
80.9
83.4
86.2
88.0
91.5
98.8
104.3
107.9
112.0
111.9
112.9
15.2
64.9
32.5
17.8
14.7
17.5
73.6
40.1
20.0
20.2
21.7
87.3
50.8
24.2
26.6
15.9
65.0
31.8
18.0
13.8
16.3
67.1
33.6
17.9
15.7
16.6
69.6
37.3
18.6
18.7
17.3
70.7
38.7
18.5
20.2
17.6
73.9
39.9
20.4
19.5
18.6
80.2
44.7
22.4
22.3
19.8
84.5
49.7
22.8
26.9
21.4
86.5
52.4
23.9
28.5
22.3
89.7
51.9
25.3
26.6
23.2
88.7
49.2
24.9
24.4
'23.5
'89.3
48.7
29.7
19.0
8.6
23.9
9.3
24.2
9.3
27.3
9.1
24.1
7.9
25.7
8.5
23.8
8.9
23.1
9.8
24.1
9.9
25.7
9.2
25.6
8.5
25.6
10.3
27.5
9.1
30.4
7.1
33.5
do
do
do
do
do
85.1
37.4
47.6
25.1
22.5
98,, 0
42.7
55.4
26.0
29.3
126.3
55.8
70.4
27.8
42.6
87.0
38.0
49.0
25.2
23.7
86.9
36.4
50.6
24.9
25.7
92.8
40.6
52.2
25.7
26.5
94.8
41.4
53.4
25.9
27.5
98.4
42.9
55.6
26.2
29.4
106.1
45.9
60.3
26.4
33.9
119.6
52.7
66.9
26.9
40.0
128.9
57.4
71.6
27.3
44.2
129.0
57.6
71.5
28.1
43.4
127.4
55.7
71.6
29.0
42.6
144.0
'60.6
'83.4
29.5
' 53. 9
do
do
-4.9
42.0
-6.9
45.2
-17.3
50.4
-6.1
42.7
—3.6
43.5
-6.6
43.9
-6.7
44.8
-6.9
45.7
-7.3
46.6
-15.4
47.9
-21.1
49.4
—17.0
51.1
-15.5
53.0
-31.2
55.0
863.5
117.5
746.0
685.8
60.2
939.2
142.2
797.0
747.2
49.7
1,035.4
152.9
882.5
827.8
54.8
870.2
118.1
752.0
691.8
60.2
884.4
124.0
760.4
702.6
57.8
910.8
138.0
772.8
720.0
52.9
926.1
140.7
785.4
739.5
45.9
943.7
142.8
800.9
755.1
45.8
976.1
147.4
828.7
774.3
54.4
996.6 1,019.0
149.3
145.1
869.7
851.5
818.7
801.5
51.0
50.0
1,047.1 1,078.9
161.1
156.0
917.8
891.1
850.8
840.1
67.1
51.1
1,094.4
163.0
931.4
869. 8
61.5
.bil. $
do
do . . .
do
81.21
29.99
14.15
15.84
88.44
31. 35
15.64
15.72
99.74
38.01
19.25
18.76
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
21.60
7.80
3.92
3.88
24.73
9.16
4.65
4.51
25.04
9.62
4.84
4.78
28.48 ' 24. 10 '127.96 128.05
11.36
11.43
'9.49 ' 11.25
5.69
5.84
'5.6
'4.74
5.67
'5.64
5.59
'4.75
do. . .
51.22
57.09
61.73
12.83
14.35
12.77
14.38
14.12
15.83
13.69
15.57
15.42
17.05
.69
.48
.57
.44
.7
.56
.6
.4
bil. $..
Compensation of employees , total
do
Wages and salaries total
- - - do
Private
do
Military
do
' Government civilian
-do _
Supplements to wages and salaries.
do....
Proprietors' income total 9
Business and professional 9
- - -do ..
do
Rental income of persons
- do
Corporate profits and inventory valuation adjustBy broad industry groups:
Financial institutions
Nonfinancial corporations total
Manufacturing total Nondurable goods industries
Durable goods industries
do
do
_.do_._.
do
do
Transportation, communication, and public
utilities
-bil. $
All other industries
do
Coroorate profits before tax total
Corporate profits tax liability
Corporate profits after tax
Dividends
Undistributed profits
Inventory valuation adjustment
Net interest
DISPOSITION OF PERSONAL INCOME
Quarterly Data Seasonally Adjusted at Annual Rates
Personal income total
-
bil. $
E quals: Disposable personal income
do
Eouals* Personal savintjS
do
NEW PLANT AND EQUIPMENT
EXPENDITURES
Unadjusted quarterly or annual totals :
All industries
-.
Manufacturing . .
Durable goods ind ustries 11
N endurable goods industries J
Nonmanufacturing
Mining
Railroad
Air transportation
Other transportation
Public utilities
Electric
.
Gas and other
Communication
Commercial and other
Seas. adj. qtrly. totals at annual rates:
All industries
Manufacturing
...
Durable goods industries 5
Nondurable goods industries 1
Nonmanufacturing
Mining
Railroad
Air transportation
Other transportation
16.69
' . 7'
'.65
'.63
'.5
.75
.64
.50
.57
do
do...
do . . .
do...
2.16
1.67
1.88
1.38
2.42
1.8(
2.46
1.46
2.74
1.96
2.41
1.66
.55
.42
.39
.37
.59
.45
.56
.37
.58
.48
.50
.32
.61
.48
.73
.39
.59
.38
.61
.35
.63
.47
.63
.40
.63
.46
.52
.32
do...
- do. .
do. . .
do. . .
do
15.30
12.86
2.44
10.77
18.05
17.00
14.48
2.52
11.89
20.07
18.71
« 15. 94
2.76
12.85
21.40
4.07
3.35
.71
2.62
4.42
4.29
3.60
.69
2.84
5.26
3.63
3.19
.44
4.55
4.24
3.61
.62
2.95
4.98
4.39
3.67
.72
2.84
4.97
4.74
4.01
.73
3.39
5.57
3.95
3.45
.50
2.87
4.94
4.59
3.91
.68
3.27
5.40
4.82
4.04
.77
3.19
5.24
5.3
4.5
.8
3.5
5.8
do
. do
do
do
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
16.7
96.19
35.51
17.88
17.63
97.76
36.58
18.64
17.94
100.9
38.8
19.73
19.08
103.7
40.6
20.4
20.1
' 107. 2
'42.9
'21.4
'21.5
'1110.5
'45.2
'22.6
'22.6
1113.16
46.00
23.25
22.76
do
51.56
52.82
56.70
56.75
56.70
58.30
60.68
61.1
62.09
63.1
'64.3
'65.3
67.15
do
do
do
do
2.23
1.72
1.68
1.48
2.30
1.64
2.26
1.33
2.42
2.10
1.96
1.48
2.38
1.88
2.89
1.53
2.40
1.50
2.67
1.4
2.4
1.7
2.3
1.4
2.59
2.1
2.2
1.53
2.7
1.7
2.7
1.6
2.8
1.9
2.4
1.7
2.7
2.0
2.2
1.7
18.0
15.5
2.5
12.7
21.5
18.5
16.00
2.58
13.1
21.3
19.8
16.7
3.0
13.2
21.3
15.74
15.87
Public utilities
do
13.0
13.56
Electric
do
2.74
2.30
Gas and other
do. . .
10.44
10.73
Communication
do. . .
19.10
17.85
Commercial and other...
do...
' Revised.
» Preliminary.
» Estimates (corrected for systematic biases) for Apr.June and July-Sept. 1974 based on expected capital expenditures of business. Expected
expenditures for the year 1974 appear on p. 19 of the June 1974 SURVEY.
2 includes
communication.
9Includes inventory valuation adjustment.
©Personal outlays comprise personal consumption expenditures, interest paid by consumers, and personal transfer
payments to foreigners.
' 14. 61 ' 16. 70
.71
.46
.72
.43
16.9
14.27
2.65
11.7
20.10
16.60
14.3
2.2
11.59
19.88
17.0
14.6
2.3
11.5
20.1
17.5
14.6
2.8
12.6
20.2
18.3
15.4
2.9
12.3
21.5
'.68
.50
'.47
'.34
'4.38
'3.85
'.52
3.19
'5.0
'5.2
'4.4
'.8
5.57
4.60
.97
' 2 8. 90
28.65
'2.9
'2.4
' 2. 2
3.06
2.70
2.16
2.17
'20.1 '20.7
'17.1 '17.6
'3.1
'3.00
13.8
'21.6 '2 35. 00
21.53
18.20
3.32
'2.8
'2.1
'2.1
'1.63
'i!o
235.54
§ Personal saving is excess of disposable income over personal outlays.
UData for individual durable and nondurable goodsc industries components appear in the
Mar. June, Sept., and Dec. issues of the SURVEY.
Corrected
OF CURE ENT BUSINESS
,SURVEY
June 1974
1971
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notesareas shown in
the 1973 edition of BUSINESS STATISTICS
1972
1971
1973'
1972
II
Annual total
g_3
IV
III
I
II
1973
III
IV
I'-
1974
ll'
III'
IV '
23,838
16, 670
25, 913
18, 143
29,007
20,211
I"
II
GENERAL BUSINESS INDICATORS—Quarterly Series—Continued
U.S.
BALANCE OF INTERNATIONAL
PAYMENTScf
Quarterly Data Are Seasonally Adjusted
(Credits +; debits -)
Exports of goods and services (excl. transfers under
military grants)
mil. $. - ••65,449 ' 72, 418 100, 950
' 42, 754 ' 48, 768 70, 252
Merchandise, adjusted, excl. military
do
Transfers under U.S. military agency sales con1,912 ' 1, 154 2,354
tracts
..mil. $__
Receipts of income on U.S. investments
abroad
mil. $_. ' 9, 830 r 10, 419 13, 984
r 10, 955 '12,077 14,359
Other services
do
Imports of goods and services^}
-Merchandise adjusted excl military
Direct defense expenditures^!
Payments of income of foreign investments
U.S
Other services
--
16, 620 ? 17, 045 r 15, 496 17, 265 '17,212 ' 18, 323 '19,618
10, 815 '11,519 ' 9, 563 11,655 '11,534 '12,357 r 13, 222
507
489
419
' 2, 559 ' 2, 271 ' 2, 735
' 2, 739 ' 2, 766 ' 2, 779
'326
2,411
2,873
'281
'252
22, 191
15, 228
'295
' 2, 435 ' 2, 679 ' 2, 894
' 2, 962 ' 3, 035 ' 3, 207
32, 882
22, 299
342
446
520
1,046
672
3,194
3,427
3,308
3,414
3,502
3,748
3,980
3,770
5,941
3,970
r- 65, 619 '-78, 427 -96, 407 -16, 660 '-17, 028 '-16, 356 -19, 028 '-18, 934 '-19,517 '-20, 948 -22,384 -23, 719 -24, 230 -26, 073 -29,980
r- 45, 476 '-55, 754 -69, 629 11, 699 '-11, 912 '-11,116 -13, 482 '-13, 329 '-13, 953'-14, 990 -16,190 -17,030 -17,541 -18,868 -22, 198
do
do
do
in the
-4,819 r- 4, 759 -4, 555
- 1, 206- 1, 203'- 1, 236— 1 222 -1,242 '- 1, 109 '- 1, 185 — 1,175 -1,209 -1,067 -1,104 -1,138
mil. $.. -4,809 '- 5, 893 -8, 694 '- 1, 108 '-1,263 '- 1, 308 - 1, 391'-1,417 '-1,467 '-1,618 -1,747 -2,100 -2, 245 -2, 602 -3, 040
-- -- --do_ _ . - 10, 515 '-12, 023 -13,530 '-2,647 '- 2, 650'-2,696 - 2, 933'-2,946 '-2,988 '-3,155 -3,272 -3, 308 -3, 377 -3, 499 -3, 604
Balance on goods and services total Merchandise, adjusted, excl. military
do. _ _
do
' -170 r-6,009
- 2, 722 '-6,986
4,543
623
Unilateral transactions (excl. military grants), net
mil. $.. r- 3, 647 '- 3, 797 -3, 876
'-3,817 '- 9, 807
Balance on current account
do
667
Long-term capital, net:
'-2,362 r- 1,330 -1,538
U S Government
-- do
r-4,381
' -98
Private
do
127
Balance on current account and long-term capital
mil. $.. r- 10, 559 '-11,235 -744
Nonliquid short-term private capital flows, net
mil. $.. -2,347 r- 1,541 -4, 276
710
717
Allocation of special drawing rights (SDR). ..do. _ _
Errors and omissions net
_ _ d o _ __ r- 9, 776 r- 1,790 -2,776
Net liquidity balance
_ . _ . .. - -.do - .
Liquid private capital flows net
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, eqcluding SDR
do._
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes areas shown in
the 1973 edition of BUSINESS STATISTICS
' -40
' 17 ' -860 '- 1, 763 '-1,722 '- 1, 194 '- 1, 330
' -884 ' -393 '-1,553 '- 1, 827 '- 1, 795 '-1,596 '- 1, 768
-193
-962
119
-360
' -881 ' -969 ' -981 ' -990 ' -954 ' -958 ' -896
r -921 ' -952 '-1,841 '-2,753 '- 2, 676'-2,152 '-2,22
-761
-954
-1,056
-937
' -576 ' -599
'-1,691 '-1,998
-371
319
94
-315
544
201
' -309
' -836
' -105
'398
' -370
' -386
' -544
'726
'-3,188 '-3,549 '-2,184 '-3,898 '-2,383 '-2,908 '-2,04 -1,006 -1,158
-492
-822
-516
179
179
179
'-2,169 '-5,111 '-1,66
' -423
178
'816
'301 '-420 ' -999 -1,663 -1,457
178
177
177
' -442 '-1,294 ' -870 -4, 085
904
-21,965 '-13, 856 -7, 796 '-5,670 '-9,303 '-4,18 '-3,327 '- 2, 346'-4,445 '-3,73 -6,754 -1,711
-647 -2,434 -1,749
'180 ' 1, 474 ' -277 ' 2, 125 -3,441
' 3, 502 2, 492
1,997
-7,788
286
-29,753 '-10, 354 -5, 304 '-6,317 '-11,737 '-5,93 '-3,147 ' -872 '-4,722 '-1,61 -10,195
'9,734 4,452 ' 5, 826 '10,725 ' 5, 772 ' 2, 217 ' 1, 078 ' 4, 665 ' 1, 772 8,816
27, 615
-160
-173
-17
221
27
1,202
-551
399 1,118
34
117
-9
366
-8
280
-2
341
-167
-43
189 -475
78
659
1,194
-187
429
-231
3:
209
-55
-111
220
2,348
-23, 779 '-15, 813 -9, 740 '-5,772 '-9,93^I '-4, 75 '-4,104t '-2,368 '-5,20* '-4,13 -8, 607
1972
2, 934
1,343
May
Apr.
June
July
Aug.
2,902
101
-897 — 1, 164 -2, 930
786
1,770
-28
-398
-862
1,529 -1,406
1, 351
742
1,917
2,065
-498
97 -1,253 -3, 224
-387
1,627
316
1, 943
792
290
-959
3,620
2,661
-869
1, 913
1,044
-729 -1,489 -2, 145
-555
11
259
-277
-354
2
167
-452
-147
17
-13
-210
-15
1,106 -1,452 -3, 529
-788
1973
1 1973
Annual
1,683
602
1974
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May P
GENERAL BUSINESS INDICATORS—Monthly Series
PERSONAL INCOME, BY SOURCE
Seasonally adjusted, at annual rates:
Total personal income
079 4 1 089 0
087.0
, 094. 8
1,101.4
717.8
262. 5
204. 6
170.8
722. 6
264.1
205. 1
171.3
721. 8
261. 0
203. 0
171.8
726. 5
263.0
203. 5
172.2
730. 2
263. 7
203. 9
173.7
132. 9
149. 2
46 2
134.1
150.4
46 7
135. 9
151.3
47 1
136.8
152.2
47.5
138.3
152. 9
47.9
139. 2
153.7
48.3
140.4
154. 4
48.8
58
1
9
83
58. 5
29. 9
58.7
31 6
58.6
32.4
58.6
29. 6
59. 3
29. 1
59. 9
28. 6
'60.0
'26.2
25. 5
28.3
90.3
120 2
25.6
28.5
91.5
121.1
25.7
28.7
92.6
121. 9
25.7
29. 8
94. 0
123. 0
25.8
29. 5
95. 3
125. 9
25. 8
29. 4
96. 3
127. 6
25.8
29. 6
97. 5
128. 9
bil. $
939.2
035 4
011.6
018 7
026 6
035.6
047 3 1 058 5 1,068 5
Wage and salary disbursements, total - do
Commodity-producing industries, total-do
Manufacturing
do
Distributive industries
do .
627.8
226.0
175.9
151.5
691.5
251.9
196 8
165. 1
677.6
245. 9
192. 9
162.2
682.0
248. 3
194. 7
163.2
688.2
251.7
197. 0
164.5
693. 2
253.4
197 9
165.3
698. 9
254.8
198. 7
167.1
706.0
257. 8
200. 8
168.7
711.2
259. 5
202. 5
169. 6
Service industries
Government
Other labor income
Proprietors' income:
Business and professional
F arm
116.1
134.2
40 7
129 0
145. 4
44 9
126 4
143.1
43 9
126 8
143.7
44 2
127 7
144.4
44 5
129 4
145.1
44 8
130.8
146. 2
45 3
132.5
147.0
45 8
54.0
20 2
57.5
26 8
56.8
24 2
57.1
94 4
57.3
°4 6
57 8
25 9
58 0
97 i
24.1
26.0
78.0
103.0
25.1
27.8
87.5
117 5
24.3
27.3
84.5
115 3
24.6
27.3
85.7
115 9
24. 9
27.4
86.5
116 0
25.0
27.6
87.8
116. 9
25.3
28.2
89. 0
119 0
34.7
911. 5
43.1
,000 5
42.4
979 5
42.5
986. 4
47.2
47.0
44.3
43.4
44.0
44.3
43.6
43.9
42.8
994. 2 1,001.8 1,012.1 1,021.8 1,030.0 1,039.0 1,047.5 1,048.1 1,056.4
do
do
do
do _
do
Rental income of persons
_ ...
do_Dividends
do
Personal interest income,.
_ _ - -do
Transfer payments
do
Less personal contributions for social insurance
bil. $..
Total nonagricultural income .
.
do -._
1,110.5 1,121.1
'
'
'
'
735. 5 744.1
265. 3
268. 6
205. 7 208. 8
175. 4 177.5
142. 8
155. 2
49.3
TO. 3
23. 9
26. 2
25.0
l
30.2
>9. 9
' 98. 9 100.3
' 133. 8 134.8
'47.6
48.1
47.4
1,063.3 '1,074.6 1,087.2
FARM INCOME AND MARKETING
Cash receipts from farming, including Government
payments, total
mil. $
64 632
86 049
4 (}48
5 252
5 683
8 493
7 614
7 790
11 409
10 324
8,388
9, 318
6,450
5, 912
5, 321
60, 671
25,075
35, 596
7,157
23,955
4 165
83, 449
38, 172
45, 277
8, 125
29, 934
6 832
4,571
1,269
3,302
651
2, 130
487
5, 244
1,454
3, 790
693
2, 542
519
5, 667
1,958
3,709
667
2,438
563
6,225
2, 821
3,404
650
2, 139
577
7,533
3, 123
4,410
679
2, 842
856
7,778
3, 694
4,084
696
2, 674
686
11,367
6,757
4,610
739
3,161
683
10, 307
6, 320
3, 987
730
2,613
619
8,386
4,815
3,571
786
2, 176
565
9, 276
5, 049
4, 226
766
2, 840
593
6,437
2, 772
3,665
736
2,368
534
5, 902
2, 193
3,710
857
2, 292
534
' 5, 316
' 1,702
'3,615
'873
' •> 225
'484
Indexes of cash receipts from marketings and CCC
loans, unadjusted:
All commodities
1967 = 100
Crops
do
Livestock and products - do
142
136
147
195
207
187
128
83
163
147
95
187
159
127
183
175
184
168
212
203
218
219
240
202
320
440
228
290
411
197
236
313
177
261
329
209
181
180
181
166
143
184
149
111
179
153
118
180
Indexes of volume of farm marketings, unadjusted:
All commodities .
1967—100
Crops
_
do
Livestock and products.
do
112
115
109
110
118
104
75
48
96
83
51
109
92
74
106
103
112
95
102
105
100
111
124
101
165
220
121
159
220
110
130
167
100
135
170
109
89
82
94
87
66
102
83
52
105
87
52
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
' Revised.
* Preliminary. rf1 More complete details appear in the quarterly reviews
in the Mar., June, Sept., and Dec. issues of the SURVEY.
If Annual data in the 1973
BUSINESS STATISTICS should read as follows (mil. dol.): 1956 total imports of goods and services,
5, 400
1,800
3,600
900
2, 300
500
-19,627; 1953-59 direct defense expenditures, -2,615; -2,642; -2,901; -2,949; -3,216; -3,435;
3,107.
9 Includes data for items not shown separately.
SURVEY OF CURRENT BUSINESS
S-4
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown in
the 1973 edition of BUSINESS STATISTICS
1972
1973
1973 *
Annual
June 1974
Apr.
May
June
July
Aug.
1974
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May p
GENERAL BUSINESS INDICATORS—Continued
INDUSTRIAL PRODUCTION d"
Federal Reserve Board Index of Quantity Output
Not seasonally adjusted :
Total index d"
By market groupings:
Products total
Final products
.
Consumer goods
, ..
Automotive products
Homo goods and clothing
Equipment
1967=100..
115.2
125.6
124.5
125.6
128.9
122.4
126.7
131.0
130.4
127.9
122.7
122.2
' 124. 9 ' 125. 6
125.3
126.0
do
do
do
do
do
do
113.8
111.9
123.6
127.7
117.7
95.5
123.4
121.3
131.7
136.6
129. 1
106. 7
121.2
118.9
129.2
147.6
129.2
104.6
122.4
120.0
130.3
147.4
128. 6
105.5
127.3
125.1
136.4
154.4
133.8
109.2
121.6
118.9
128.6
124.3
119.2
105.2
125.1
122.2
134.1
100.5
132.5
105.7
130.6
128.6
141.8
136.6
139.1
110.3
129.1
127.2
139.2
146.6
137.5
110.3
125.4
123.4
132.8
140.2
130.6
110.2
118.8
116.8
122.8
102.6
122.3
108.4
118.9
118.1
125.2
108.2
123.5
108.2
-•121.7 ' 122. 5
' 120. 6 '121.5
' 127. 9 ' 128. 9
'111.2 r 113. 0
' 129. 3 ' 130. 3
' 110. 3 '111.2
121.8
' 120. 1
' 127. 2
'119.1
' 128. 0
' 110. 3
122.7
120.8
127.4
121. 5
125. 8
111.7
do
do
121.1
117.4
131.0
129. 3
129.6
129.9
131.4
130.9
135.2
131.4
131.8
123.7
135.5
129.2
137.6
131.8
136.2
132.5
132.8
132.0
126.0
129.0
122.0
127.5
* 125. 7
130.1
' 126. 5 ' 127. 7
' 130. 6 ' 131. 1
129.1
131.6
do
do
do
114.0
108.4
122.1
125.1
122. 0
129. 7
124.7
122.4
128.0
125.8
123.2
129.5
128.9
125.8
133.3
121.1
117.9
125.6
125.3
119.3
133.9
130.2
125.9
136.4
130.2
126.3
135.9
128.0
125.0
132.4
122.1
119.8
125.4
121.5
118.5
125. 9
' 124. 7
' 126. 0 ' 125. 8
'121.2 ' 122. 7 ' 122. 4
' 129. 7 ' 130. 8 ' 130. 7
126.1
123.0
130.6
do
124.1
129.0
122.7
123.6
128.2
133.0
137.2
137.1
131.2
127.3
126.8
126.9
' 126. 1
do
115 2
125.6
124.1
124.9
125.6
126.7
126.4
126.8
127.0
127.5
126.5
' 125.6
' 124. 9
125.4
124.2
122.1
132.9
123.7
121.4
131.2
124.3
122.4
132.3
124.3
122.7
132.6
125.3
123.7
133.5
124.0
122.6
131.3
' 123. 0
' 121. 3
r 129. 3
' 122. 4 r 122. 0 ' 122. 5
' 120. 6 ' 120. 4 121.0
' 128. 6
' 128. 3 r 127. 9
123.4
122.0
129. 5
Intermediate products
Materials
.-_.-.
By industry groupings:
Manufacturing
Durable manufactures
Nondurable manufactures
Mining and utilities
Seasonally adjusted:
Total index
By market groupings:
Products, total
Final products
Consumer goods
124.6
r 125.
3
' 124. 5
'121.9
122.6
...do ..
do. _.
do
113.8
111.9
123.6
123.4
121.3
131.7
122.1
120.0
130.9
122.9
120.8
131.7
123.7
121.3
131.9
do
. do .
do
do
125. 7
127.7
112.7
156.5
138.9
136.6
125. 4
158.2
140.5
141.7
128.1
167.5
141.6
142.6
129.8
167.0
141.8
142.6
132.6
161.9
142.4
141.7
134.0
156.7
134.0
121.1
103.9
154.2
138.2
129.8
118.4
151.8
137.3
131.4
122.5
148.4
138.5
133.7
124.8
150. 9
134.6 T 128. 6 ' 126. 4 r 128. 0 ' 130. 9
120.6 ' 109. 1 ' 106. 6 r 107. 8 '114.5
97.7
86.4
86.3
106.2
90.0
147.8 r 145. 6 T 145. 5 ' 149. 1 ' 146. 7
133.1
117.8
100.3
151.5
124.5
124.6
132.6
140. 1
144.6
149.8
139.8
149.7
146.7
140.9
148.1
147.8
141.3
147.2
148.9
142.9
147.8
155.4
141.1
146.3
154. 2
142.8
149.4
153.3
140.9
143.4
153.9
141.2
140.4
152.7
142.5
147.9
150.1
139.6
138.4
153.5
r 137.
' 139. 4 ' 140. 3
' 135. 8 134, 2
158.7
r 154. 5
141.9
122.8
109.7
126. 2
117. 5
135.3
129.0
116.2
13° 4
122. 1
143.2
127.1
114.5
130.6
120.9
140.8
128.0
114.2
131.7
120.9
143.1
128.1
116.0
131.4
119.6
143.7
129.0
116.5
132.5
121.3
144.1
130.2
117.0
133.6
121.9
145.8
130.1
118.0
133.2
122.2
144.8
130.8
116.8
134.5
123.3
146.2
131.5
117.3
135.2
126.5
144.3
130.2
120.3
132.8
125.0
141.1
129.5
116.3
133.0
126. 9
139.4
' 129. 1
' 127. 9 ' 127. 7
112.0
' 132. 1 ' 132. 6
125. 9 ' 124. 0 ' 124. 3
' 140. 4 r 140. 5 ' 141. 1
128.2
95 5
106.1
102. 5
104.8
92.7
106.7
122.6
120.1
120.4
113.0
104.7
119.6
117.4
118.1
109.4
105.7
121.3
119.1
118.8
112.0
106.6
122.5
119.8
119.1
113.1
107.3
123.0
120.5
119.6
113.9
107.6
124.6
122.5
123.0
115.1
108.5
125.8
124.1
123.7
117.3
108.9
126.2
124.5
124.7
117.3
110.1
127.8
125.6
126.0
118.2
110.1
126.9
124.9
126.0
118.5
109.8
126. 8
125.3
128.5
119. 3
r 109. 9
' 110. 0 '110.4
128.6
' 127. 8 ' 129. 0
' 133. 0 ' 137. 3
' 121.3 ' 122. 3
111.6
129. 6
130.8
138.0
123.8
110.3
118.4
96.8
125. 5
135.0
109. 7
122.2
131.3
107.5
123.7
131.6
109.8
125.4
134.1
109.7
125.8
135.9
109.0
127.0
137.0
108.4
127.7
138.2
109.6
128.1
140.1
109.8
130.3
141.3
111.4
129.2
139.3
111.1
128.5
139.8
109.5
' 128. 2
' 140. 8 ' 140. 5
' 108. 2 106.5
128.4
138. 5
110.4
77.9
80.4
80.0
79.7
80.1
81.1
79.7
79.8
80.0
80.9
81.9
81.4
129.2
133.0
126.3
Durable consumer goods
Automotive products
Autos
-_
Auto parts and allied goods
Home goods 9
do
Appliances, TV, home audio.-.do
Carpeting and furniture
do
Nondurable consumer goods
do
Consumer staples
do ...
Consumer foods and tobacco. .. do
Nonfood staples
do
Equipment
do
Business equipment
,
do
Industrial equipment 9
do .
Building and mining equipment.do
Manufacturing equipment
do
Commercial transit, farm eq 9
Commercial equipment
Transit equipment
do _.
do
do .
Defense and space equipment
do
5
r 131. 9
153.3
r 114. 5
r 133. 0
127.3
r 126. 6
130.3
r 120. 6
128.2
r 139.
8
109. 8
r 128. 0
r 128. 2
'80.3
'80. 0
'80.9
133.3
124.6
142.5
81.6
' 129. 1 ' 127. 6 ' 127. 9
' 131. 3 129.0 ' 129. 5
126.5
127.4 ' 126. 5
128.1
129. 5
128. 9
128. 0
114. 2
120. 6
128. 9
128.3
114.7
122.6
130.8
142. 5
123.6
121.1
120.8
121.3
131.1
133.8
128.7
129.3
132.2
127.0
130.5
132.2
129.2
132.0
133.5
128.9
132.5
134.6
132.7
132.1
135.3
129.6
131.0
134.9
128.1
130.6
134.3
127.5
131.1
133.7
129.0
129.1
131.1
127.4
117.4
113.5
113.8
99.3
122.5
129.2
120.9
129.3
130.0
127.6
119.3
129.2
139.9
124.2
127.7
127.9
129.0
113.8
128. 5
138.8
122.1
128.3
128.6
125.7
118.0
128.9
139.4
122.9
129.0
129.2
128.8
118.2
129.4
140.2
125.3
130.9
131.6
126.9
124.5
130.4
142.2
126.9
130.9
131.8
128.6
122.3
130.6
142.4
126.3
131.3
132.3
129.9
122.1
130.3
141.9
128.3
131.1
132.2
128.2
122.7
130.1
141.4
126.9
131.5
133.0
128.4
125. 8
130.7
142.4
124. 9
130.7 'r 129. 8
130. 1
132.7
121.0 ' 114.3
123. 9
125.3
131. 1
129.2
143.4
140.1
121.5
123.1
do
do
do
do
do
do
do
114.0
108.4
113.9
113.1
107.1
123.6
114.8
125. 1
122.0
128.7
127.0
121.7
136.5
130.5
123.8
120.6
127.2
125.8
119.6
137.8
128.9
124.9
121.9
128.1
126.1
119.8
135.0
130.3
125.6
123.0
128.7
124.5
119.9
131.5
133.4
126.5
123.8
130.6
128.1
120.9
140.3
133.5
126.1
122.6
129.5
125. 6
118.5
137.5
133.8
126.3
123.3
129.5
127.8
122.7
136.5
131.5
126.4
123.6
130.6
128. 7
123. 6
141.1
132. 4
127.4
124.3
131.0
128. 9
124.2
140.1
133.1
126.4
123.1
130.5
130.7
127.7
141.3
130.0
' 125. 4
121. 1
130.4
129. 5
125.5
137.0
131.4
' 124. 5 '
' 119. 4 ' 120 2 '
' 127. 6 128.6 '
' 125. 0 ' 126. 1 '
119.4 ' 119. 6 '
' 137. 7
r 135. 3
' 130. 6 ' 131. 5 '
do
do
do
do
103.5
107.5
105.7
109.6
117.3
125. 8
125.0
126. 8
115.7
122.6
121. 5
123.8
117.3
124.7
124.0
125.4
118.8
126.9
126.1
127.8
119.4
127.6
127.1
128.1
117.7
128.5
128. 9
128.1
118.9
130.0
130.0
129.8
119.0
129.3
130.0
128.6
119.9
130.4
130.3
130.5
118.6
130.9
130.2
131.6
115.2
128.6
129. 4
127.7
113.8
' 127. 2
128.1
' 126. 2
'114.5
' 128. 0
' 129. 0
' 126. 8
'115.1
' 127. 9
' 130. 1
' 125. 6
116. 9
129. 2
131.7
126.4
do
do...
do
do
99.0
123.1
75.8
120.2
109.1
138. 1
81.2
138.3
110.0
140.1
81.1
134.7
111.0
140.9
82.2
138.9
112.2
143.3
82.2
140.2
112.1
144.1
81.3
140.8
105.7
131.0
81.3
140.9
107.3
133.9
81.7
141.5
108.8
136.4
82.3
141.0
109. 8
137.8
82. 9
142.6
103.0
124.6
82.2
142.7
95.7
112. 7
79.3
143.0
' 93. 9 ' 94. 7
109. 2 ' 109. 7
' 79. 3 '80.3
' 142. 9
r 142. 8
'97.3
116.5
' 78. 9
' 144. 4
99. 9
118. 9
81.7
144.7
Lumber, clay, and glass
.. do
Lumber and products
do...
Clay, glass, and stone products. ... "do." .
120.0
122.4
118.6
199 1
127. 9
129. 8
129.9
129.1
130.4
130.3
127.5
132.0
129.2
126.6
130.5
129.8
125.4
132.3
129.2
128.4
129. 6
128.8
128.9
128.8
129.7
127. 4
131.2
129. 3
127. 3
130.4
127.8 ' 128.9 r 127. 4 ' 128. 1 ' 129. 0
127.0
126.3 ' 124. 2 127.1 ' 126. 1
131.8 ' 127. 6 ' 129. 3 130.1
128.7
129.4
Furniture and miscellaneous
Furniture and
fixtures
Miscellaneous manufactures
do
do
do.
122.7
113.5
131.1
135.1
126.1
143.2
133.1
123.8
141.6
136.0
126.5
144.5
135.4
126.5
143.6
135.9
127.5
143.5
137.5
129.5
144.9
138.2
130.4
145.3
136.1
128.8
142.9
136.4
127. 9
144.3
135.3
124.9
144.5
' 135. 2 ' 136. 8 ' 136. 2
127.1
126.8
125.4
' 145. 8 144.3
r 144. 2
136.4
do
do""
do
do
do. . .
122.1
108.1
117.4
105.7
88.9
129.7
115.0
127.3
113. 2
83.7
128.4
114.0
126.1
111.7
86.8
129.2
113.3
127.2
110.0
83.0
129.3
115.0
119.2
111.0
86.6
130.6
114.5
128.9
112.1
79.2
130.9
115.4
129. 0
113.6
81.0
130.7
117.5
130.2
115.4
86.4
130.4
116.8
130.2
114. 9
83.1
131.3
116.7
129. 4
115. 3
82. 9
131.2 '•131.7 ' 131. 5 ' 130. 9 ' 131. 0
118.8 r 117.8 ' 115. 3 ' 113. 2 ' 111.7
123. 4
130. 9 ' 132. 3 ' 127. 6 r 125. 0
111.5
113.6
118.5
116.4
84.2
'83.0
-83.7
77.6
82.9
131.1
111.6
121.9
135.1
113.2
122.8
134.6
114.8
' 122. 2 ' 122. 5 ' 122. 1
140.3
' 137. 6 140.2
111.9 ' 110.7 ' 109. 9
121. 5
Intermediate products
Construction products
Misc. intermediate products. .
"
do
"do
do ..
Materials
..
do
Durable goods materials 9
do
Consumer durable parts
do
Equipment parts
do
Nondurable goods materials 9
do
Textile, paper and chem. materials., do
Fuel and power, industrial
do
By industry groupings:
Manufacturing, total
Durable manufactures
Primary and fabricated metals
Primary metals
Iron and steel
Nonferrous metals. _
Fabricated metal products..
Machinery and allied goods 9
Machinery
Nonelectrical machinery.
Electrical machinery
Transportation equipment
Motor vehicles and parts
Aerospace and misc. trans, eq
Instruments
Nondurable manufactures
Textiles, apparel, and leather
Textile mill product^
Apparel products
Leather products
Paper and printing
^0
116.1
122 2
120.8
Paper and products
do
128.2
135! 4
133.6
Printing and publishing
~.~~~do~"
107.9
113.2
112.2
Revised.
p Preliminary.
^Monthly revisi 3ns for 197 2 are aval lable up<
m
reques t.
121.2
121. 9
121.3
122.1
136.7
136.2
135.3
134.8
112.3
110.8
112.1
113.6
91 ncludes data for items no t shown separate' y.
123.8
135.3
116.0
124.5
137.0
116. 2
133.4
124. 2
141.8
121.7
138.7
110.4
128.3
r 127. 3
' 109. 3
122.6
' 131. 1
'141.7
' 122. 5
'
'
'
'
'
'
'
128. 4
126. 6
110. 3
120. 6
131. 6
142. 6
122. 4
r 124. 5
'
'
'
'
r 131.
6
143.4
' 122. 8
124. 8 125. 7
120. 5 121. 9
127. 7 128.8
124. 4 126.0
116. 5 117.3
141. 9
131. 7 "I§2."6"
111.1
SURVEY OF CURRENT BUSINESS
June 1974
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown in
the 1973 edition of BUSINESS STATISTICS
1972
1973 v
Annual
S-5
1973
May
Apr.
June
July
Aug.
1974
Oct.
Sept.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May*
GENERAL BUSINESS INDICATORS—Continued
INDUSTRIAL PRODUCTION^— Continued
Federal Reserve Index of Quantity Output— Con..
Seasonally adjusted— Continued
By industry groupings— Continued
Manufacturing, total— Continued
Nondurable manufactures— Continued
Chemicals, petroleum, and rubber 1967=100.
Chemicals and products
do
Petroleum products
do
Rubber and plastics products
do
Foods and tobacco
Foods
Tobacco products
Mining and utilities
...
Mining
-Metal mining
Stone and earth minerals.
Coal, oil and gas
Coal
Oil and gas extraction
Crude oil
137.8
139.6
120.6
145.5
149.3
150.2
127.4
163.8
147.9
147 8
126 9
165.1
150.2
150 2
128 5
166.8
149.8
150.4
129.7
163.9
151.8
152 0
129.3
168.8
151.0
151 4
128 2
167.9
150.9
153 0
126 0
163 6
151.1
152 7
130 4
161.9
151.6
153 0
129 5
164.5
151.6
154 5
125 5
162.3
151.5
154 9
120 5
164 3
151.2 '151.3
155 3
116 9 r 1 1 7 °.
163 5
164 0
do .
-do
do
117.6
118.6
103.7
121.9
122.7
110.7
120 7
121.3
112.9
121.5
122.4
111.2
119.5
120.3
108.1
121.3
122.4
105.3
122.0
122.9
110.1
122 2
123 2
109.1
121.7
122.4
113.7
194 7
125 4
115.8
123 0
124 5
104.2
125 4
126 3
113.3
126 2
127 2
112 1
do
do
do
-do
do
do
do .
do
124.1
108.8
120.9
98.1
109.2
104.2
110.0
107.3
129.0
110.3
130.8
109. 5
108.3
104.4
108. 9
104.4
126 6
109.0
128.5
108.8
107.1
99 9
108.3
103.6
127.0
109.1
127.0
108.8
107.3
100.9
108.4
104.6
128.2
109.5
121.6
105.2
108.9
108.0
109.1
104.6
130.4
111.0
128.4
109.1
109.5
109.0
109.5
105.4
130.7
111.5
131.4
113.1
109.2
104.0
110.0
104.8
131 3
111 8
136 6
109 5
109.6
109 8
109 7
103.9
131.5
111.9
138.3
109.2
109.7
103.0
110.8
104.2
130 6
111.3
135.2
111.7
108.8
104 1
109 6
103.7
126 9
110.4
135.2
113.1
107.5
110 4
107.0
102.9
125 4
109 9
135 2
111 9
107.0
108 7
106 8
102 4
126 9
111 97
132
111 6
109.6
109 1
101 6
00 8
143.4
149.4
123 4
152.6
161.1
124 2
148 7
156.2
149 5
156.8
151 6
159.7
154 8
163.9
154 8
163.8
1rr o
156 2
165.3
154 6
163.4
147.6
155.6
144 9
153.0
146 1
154.6
154.8
Utilities
Electric
Gas
do
do
do
165.1
n
o 7
152.8
1fi^i0
125. 1
126. 3
110 4
126. 7
111. 6
_ -i 09 n
m7
r 110. 7
153.3
156.3
125. 2
1 1ft 7
110.2
110.3
110.0
113.5
109.5
145.6
BUSINESS SALES §
Mfg« and trade sales (unadj.), total.. -
mil. $._
Mfg. and trade sales (seas, adj.), total
do
156 472 1 W fi?^ fin 781
377 947 , 70 900 70 1 97
340 349 r 4Q 726 41 189
36 395 36 905 _ O7'c«9 07 QAC.
42 932 43 134 _ A<3 079
Manufacturing, total
Durable goods industries...
Nondurable goods industries
do
do
do
342, 880
392, 092
31 817
32 000 32, 359
32 469
33 388
32 898
33 702
35,123
35 152
Retail trade, total
Durable goods stores
Nondurable goods stores
do
do
do
448, 379
149, 659
298, 720
503, 317
170, 275
333, 042
41 185
14 339
26 846
41 9723
14 99
27 424
41 167
13 731
27 436
42 767
14 4G9
28 358
42 355
14 481
27 874
42 529
42 970
14 331
28 639
42,976
14 090
28 886
42 116
13 270
28 846
Merchant wholesalers, total
Durable goods establishments
Nondurable goods establishments
do
do
do
298, 199
138 446
159, 753
364, 858
167 713
197, 145
29, 621
29,675
29,528
13 781
15,747
30,443
30, 692
31,918
33,910
34, 896
-I 0
1 ^ 9°>9
1 ^ 8Q8
16,404
16,742
30,646
13,968
16,678
33,101
14 039
17, 527
18,106
18,678
18, 998
36,091 r 37,515
T
16,669
20, 231 «• 20,846
9OQ Q91
214 722 219,589
219 247
223 036
997 R1fi .909 497 9OC /jnr
1 1 8ft.fi
10 QC.A
15, 815
15,711
QCfl
1 A. 9R7
28 262
14 195
13 525
29 407
1 o 097
29 go7
37, 696
17,086
20, 610
BUSINESS INVENTORIES §
Mfg- and trade inventories, book value, end of year
or month (unadj.), total f mil. $.. 194,228
219, 247 204 799 206 563
207 491 207 670 207 691
Mfg. and trade inventories, book value, end of year
or month (seas, adj.) , total t
niil. $._ 196,002
Manufacturing, total
Durable goods industries
Nondurable goods industries
Retail trade, totalf
Durable goods stores
Nondurable goods stores
-
Merchant wholesalers, total
Durable goods establishments
Nondurable goods establishments
221,357 209 529 204 693 2C6 961 208 776 210 548 212 297 214 284 217,637 "1 357 224 657
107,719 120, 870 110 577 111 625 113,025 113 910 114 907 1 1fi 114 117 224 118,435 120 870 122 570
do
70, 218
79, 441 72 213 72 867 73,801 74 278 75 213 76 249 76 951 77,645
79 441 80 541
do...
37, 501
41, 429 38, 364 38, 758 39,224 39,632 39, 694 39,865 40, 273 40,790
do.._
41,429 42, 029
56, 551
63,561 58 378 59 019 59 788 60 213 60 677
62 937
- do-_
63 561 64 261
61
681
26, 034
28, 778 26 356 26 661 27 051 27 494 97 '^fi0.
do
97 09fi
28 662
28 778 28 852
30, 517
34, 783 32, 022 32, 351 32, 737 32,719 33, 114 33, 340 33, 755 34, 275 34,783 35, 409
do...
31, 732
36, 926 33 574 33 986 34,148 34 653 34 964 o r 9fifi 35 379 36,265 36 996 37 826
do
21,112 19 496 19 929 20 141 90 159 20 089 9O 9^7 20 331 20, 787 91 II 9 21 487
18, 884
do
15, 814 14 078 14 057 14,007
do. . . 12, 848
14,494 14 875 15 009 15 048 15,478 15 814 16 339
997 79c
1 94 8Q.1
909 7fie
- 1 9£ C AA
f\\A
84 "^fi
42,906 f 43 486
44,080
35, 605
36, 165
36,360
oo CAI
_ on QA"
16 715
T
-j6 995
30 581
99' 700
16 843
81 925
_ 00
BUSINESS INVENTORY-SALES RATIOS
Manufacturing and trade, total t
Manufacturing, total
Durable goods industries
Materials and supplies
Work in process
_
ratio.
___
do...
do
do___
__do___
«•r 33
1. 62
2. 03
3 co
r
r
do__
do
do...
do...
1.29
do .
do
do. _
1.45
1.96
1.19
1.42
1.91
1.18
Merchant wholesalers, total-.
.do
Durable goods establishments..
do_ _
Nondurable goods establishments ..
do...
MANUFACTURERS' SALES, INVENTORIES
AND ORDERS
Manufacturers' export sales:
Durable goods industries:
Unadjusted, total..
mil. $
Seasonally adj., total..
. ..do
1.21
1.55
1.13
1.43
N endurable goods Industries
Materials and supplies
Work in process.
Finished goods
Retail trade, total t--Durable goods stores
Nondurable goods stores
Shipments (not seas, adj.), total..Durable goods industries, total?
Stone, clay, and glass products.
Primary metals
Blast furnaces, steel mills
Nonferrous metals
_ _
.48
.20
.61
.91
25 108
1.20
.46
.19
.55
.87
31 693
1 21
46
19
.56
1 21
1.21
1 1
4
1
5
46
.19
.56
1 4
1 81
1 19
1 41
1 86
1 18
1 45
1 97
1. 19
1 41
1 91
1 15
1 0
1 13
1 41
89
1 15
1 43
1.16
1.46
89
.89
1 14
1 44
88
11
1 4
g
9 530
2 487
2 759
2 660
29 627
560
9 ^1
9 651
2 39
2' g4
9
1 91
1 10
19
55
19
54
1 4
1 44
j 1
1 18
1 1^
1 1
1 4^
1
90
9 fi84
9 799
A
OR
9 84
Z,
84
9 81
1 16
45
18
.53
1 18
45
19
.54
1 15
45
18
.52
1 46
9
03
1 19
1 51
9 17
1 2
1 50
9 13
1 20
1 10
1 39
85
1 09
1 39
85
1 08
1 35
86
9
979
9' 920
1 74
9 884
3
3
11O
1.62
2.05
66
91
9L
.47
r
.48
.48
i 1A
-10
59
r 5'
_ 9 r>(
1 20
1 O7
1 07
1 05
r
3
3
94°.
°.44
"
~ on
9 °.1
9 1 9.A
~~
~1
001
1 1
1 05
1 33
82
3
3
g9
C9C
3 448
3' 396
QA>
r349 g9(
T 9 i CA
9 99(1
9 Q5
9
1 34
CO
r3gl 506
9 04^
roc
1 47
1 48
1 4<1
1 1 (1
do
do
do
do...
do- .
22 344
57 941
28, 109
21. 392
1 16
46
18
5'
18
.do___
94 936
2 ig2
2 064
2 270
79 o%>7
6 028
6 195
35, 260(
2, 946
3,034
3,119
26. 53
2 222
2 953
9 3*7
r
Revised.
» Preliminary.
i Based on data not seasonally adjusted.
2 Advance
estimate; total mfrs. shipments for Apr. 1974 do not reflect revisions for selected components
3 See corresponding note on p. S-6.
§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 manufacturing are shown below on
pp. S-6 and S-7; those for wholesale and retail trade on pp. S-ll and S-12.
1 2
47
19
.56
46
19
.56
1 45
*. W2
3
9
1 44
r 1.62
r 2. 04
T gg
80 875
r
42 699
5
2,760
2,882
1 QQ1
9 177
2,986
9 Q.9H
3,05
9 Q*
3,057
2,840
9 498
9 Q84
3,133
9 4^°.
3,246
'3,700
9
r 9 847
848
2
44, 050
9 19g
T 7 7^7
' 8 116
3,611
3 007
tSee note marked "t" on p. S-12; revisions for total mfg. and trade (unadj. and seas, adj.)
and inventory-sales ratios for mfg. and trade total and retail trade, total, durable, and nondurable appear on p. 7 of the March 1974 SURVEY.
9 Includes data for items not shown
separately.
t See note marked "a"" on p. S-4.
SURVEY OF CURRENT BUSINESS
S-6
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown
in the 1973 edition of BUSINESS STATISTICS
1972
1973
1973
Annual
June 1974
Apr.
May
June
July
Aug.
1974
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
4,921
7,551
5,777
38, 941
5,638
1,316
4,951
7,211
5,576
9,195
5,751
1,262
May
GENERAL BUSINESS INDICATORS—Continued
MANUFACTURERS' SALES, INVENTORIES,
AND ORDERS— Continued
Shipments (not seas, adj.)— Continued
Durable goods industries— Continued
Fabricated metal products
Machinery, except electrical
Electrical machinery
Transportation equipment
Motor vehicles and parts
Instruments and related products
Nondurable goods industries, total 9
Food and kindred products
Tobacco products
Textile mill products
Paper and allied products
Chemicals and allied products
Petroleum and coal products
Rubber and plastics products
47, 098
61, 024
55, 950
53, 707
73, 380
63, 497
4,426
6,216
5,192
4,503
6,199
5,111
4,732
6,750
5,583
4,295
5,705
4,909
4,455
5,734
5,230
4,655
6,468
5,654
4,811
6,237
5,642
4,668
6,174
5,571
4,527
6,384
5,438
4,325
6,223
5,060
4,739
7,020
5,662
66, 762
13, 393
77, 278
14, 334
6,741
1,170
7,006
1,170
7,169
1,263
5,419
1,119
4,667
1,168
6,227
1,299
7,314
1,302
6, 928
1,258
4,866
1,218
5,611
1,134
5,762
1,240
342, 880
114, 496
5,863
26, 726
392, 092
134, 947
6,201
30, 531
32, 072
10, 683
483
2,501
31, 884
10, 740
526
2,549
33,632
11,383
555
2,725
30,714
10,806
517
2,200
33,536
11,750
560
2,602
34,336
11,982
516
2,631
34, 796
12,187
534
2,758
35,031
12,337
532
2,675
33,524
11,980
539
2,537
34,160
12,010
549
2,556
37,244
12,653
509
2,785
38,562
12,939
2,932
38, 249
12,356
516
2,814
28, 278
do
do_ . 57, 437
29,932
do
19, 185
do _
32, 417
67, 034
35,815
20, 488
2,628
5,910
2,723
1,796
2,699
5,784
2,781
1,716
2,833
5,962
2,953
1,794
2,562
5,152
2,919
1,580
2,798
5,536
3,017
1,702
2,815
5,769
3,121
1,743
2,863
5,643
3,135
1,809
2,850
5,610
3,425
1,729
2,719
5,463
3,694
1,584
2,901
5,685
3,742
1,696
3,125
6,452
4,173
1,842
3,217
6,729
4,374
1,919
3,266
7,076
4,456
1,987
mil. $do _ .
do
do
do
do
do
do
do
do
-
Shipments (seas, adj ) total
By industry group:
Durable goods industries total 9
Stone clay and glass products
Primary metals
Blast furnaces steel mills
Nonferrous metals
do
77,247
78,288
79, 127
- do
do
do
do
do
40,342
2,159
6,884
3,163
2,776
40, 635
2,154
7,059
3,420
2,686
41,232
2,161
7,047
3, 182
2,789
Fabricated metal products
do
Electrical machinery
TransDOrtation equipment
do
do
Instruments and related products
do
Nondurable goods industries total 9
Food and kindred products
do
do
Textile mill products
do
Chemicals and allied products
Petroleum and coal products
do
do
By market category:
Home goods and apparel
Consumer staples
Equipment and defense prod., excl. auto
Automotive equipment
Construction materials and supplies
Other materials and supplies
Supplementary series:
Household durables
Capital goods industries
Nondefense
Defense
do
do
do
do
do
do
2,029
5,471
2,595
2,061
2,096
5,710
2,704
2,115
2,072
5, 789
2,753
2,178
2,075
6,023
2,924
2,245
2, 084
6, 165
3,030
2,301
2,046
6,266
3,149
2,284
2,178
6,730
3, 459
2,369
2, 162
6, 792
3,367
2, 495
2,048
6,687
3,181
2,586
2,125
6,766
3,220
2,580
4,362
5,975
5,393
4,487
6,047
5,296
4,411
6, 159
5,265
4,606
6,240
5,405
4,385
6,117
5,350
4,345
6,243
5,288
4,648
6,353
5,372
4,714
6,614
5,382
4,730
6,630
5,387
4,780
6,649
5,529
6,254
1,194
6,395
1,171
6,250
1,186
7,055
1,196
6,524
1,163
6,692
1,192
6,932
1,245
6,668
1,232
5,490
1,226
5,555
1,265
31,817
10, 926
499
2,541
2,609
5,409
2,745
1,698
32, 000
10, 872
520
2,611
2,715
5,387
2,819
1,663
32, 359
11,071
515
2,566
2,708
5, 593
2,883
1,677
32, 469
11, 222
506
2,550
2,722
5,641
2,936
1,712
33,388
11,827
540
2,550
2,767
5, 694
3,017
1,700
32,898
11,348
498
2,499
2,739
5,575
3,100
1,706
33,702
11,739
536
2,532
2,807
5,687
3,170
1,748
35, 123
12, 180
528
2,637
2,898
5,895
3,456
1,794
35,152
12,089
552
2,642
2,891
6,140
3,663
1,754
36,395
12,762
582
2,793
3,009
6,127
3,746
1,830
36,905 37,562
12,693 12,730
'544
535
2,816 '2,759
3,067 '3,091
6,315 ' 6, 435
4,077 '4,404
1,819 '1,826
37, 945
12, 643
533
2, 859
3,242
6,467
4,488
1,880
171,555 i 80, 572
1146,257 i 166,933
6,761
13, 559
6,682
13, 570
6,681
13, 734
6,541
13, 837
6,616
14,472
6,683
13,929
6,878
14,479
7,178
14, 915
6,961
14,746
7,083
15,267
179,835 i 91,945
1 63, 500 i 72, 361
i 285,242 i 333,345
7,482
5,939
26, 702
7,560
6,079
27, 201
7,436
6, 021
27, 465
8,344
6,098
27, 948
7,807
5, 928
28, 244
7,898
5,928
28, 189
8,306
6,112
29,272
7,980
6,301
29, 955
6,724
6,314
29,974
6,792
6,192
31,046
7,152
15,167
310,385
6,424
6,376
31,743
7,501
15, 158
10,557
6,610
6,454
32,847
3,011
2,993
2,975
3,095
3, 084
3,042
3,152
3,260
3,143
3,132
dodo
do
do
131,354
i 36, 451
do
do....
do
107, 415
69, 803
37, 612
120, 312
78, 835
41 , 477
111,469 112,604
72, 884 73, 562
38, 585 39, 042
113,175 113,367
73,911 74, 051
39, 264 39, 316
do...
107, 719
120, 870
110,577 111,625
113,025 113,910 114,907
do...
do._.
do
do
do
70, 218
2,463
9,658
5,268
3,354
79, 441
2,813
9, 356
4, 672
3, 449
72, 213
2,477
9,425
4,925
3,421
72, 867
2,524
9,425
4,940
3,403
M^otor vehicles and parts
do
Instruments and related products.. do —
7,832
14, 386
10, 381
16, 150
4,589
2,717
8, 997
16, 703
12, 559
18, 233
5, 646
3,268
8,113
14,975
11,030
16, 604
4,732
2,713
By stage of fabrication:
Materials and supplies 9
do
Primary metals
do...
Machinery (elec. and nonelec.)_..do
Transportation equipment
do
20, 010
3,283
6,516
3,022
24, 423
3,586
8,359
3,888
Work in process?
do.._
Primary metals
do
Machinery (elec. and nonelec.)__.do
Transportation equipment
do
32, 074
3,485
11,250
11,774
Finished goods 9
do
Primary metals
do...
Machinery (elec. and nonelec.)_..do
Transportation equipment
do
Nondurable goods industries, total 9 -.do
Food and kindred products
do-..
Tobacco products
do
Textile mill products
do___
Paper and allied products . _ _
do. .
Chemicals and allied products
do._Petroleum and coal products
do
Rubber and plastics products
do___
By stage of fabrication:
Materials and supplies
do
Work in process
do
Finished goods
do-._
Inventories, end of year or month:
Book value (unadjusted) total
Durable goods industries, total
Nondurable goods industries total
Book value (seasonally adjusted), total
By industry group:
Durable goods industries, total 9
Stone, clay, and glass products
Primary metals
Blast furnaces steel mills
Nonferrous metals
Machinery except electrical
Electrical machinery
do
do —
4,836
4,823
4,881
6,969
6,712
6, 918
5,629
5,621
5,752
8,177 ' 8, 699
3 8, 531
5,167 '5,042
5,335
1, 281 '1,315
1,290
' 7, 433
15,218
10,426
'6,327
'6,329
' 32,555
3,236 '3,335 ' 3, 284
'312,138 ' 12, 019 '12,143
'310,467 ' 10, 407 '10,557
'1,586
'3 1, 671 '1,612
114,465 115,045 116,496
75,117 75, 707 76,399
39,348 39, 338 40.097
117,842 120,312 122,837
77, 154 78, 835 80,460
40, 688 41,477 42,377
125,398 '127,125 129,469
82,181 ' 83,515 85, 165
43,217 ' 43,610 44, 304
116,114 117,224
118,435 120,870 122,570
124,831 '126,500 128, 436
75,213
2, 679
9, 346
4,820
3,388
76, 249
2,702
9,323
4,791
3,358
76,951
2,720
9, 222
4,677
3, 375
77,645
2,737
9,226
4,617
3,402
79,441
2,813
9, 356
4,672
3,449
80,541
2,863
9,467
4,691
3,500
81,925
2,861
9,523
4,632
3,595
' 83,014
' 2, 952
'9,562
'4,546
'3,670
84,356
2,980
9,768
4,537
3,843
8,238
15, 504
11,514
17, 029
5,102
2,879
8,378
15,681
11,742
17,328
5, 107
2, 978
8,519
15, 952
11,834
17, 690
5,436
3,031
8, 513
16,164
12,102
17,766
5,391
3,083
8,792
16, 365
12, 302
17, 763
5,391
3,170
8,997
16,703
12,559
18,233
5,646
3,268
9,023
17,021
12,749
18,339
5,713
3,413
9,264
17,405
13,016
18,460
5,616
3,581
' 9, 384
' 17,693
' 13,133
' 18,671
' 5,689
' 3, 627
9, 587
17,993
13, 360
18,810
5,889
3,727
21,424
3, 326
7, 245
3,433
21,721
3,389
7,411
3,413
22,080
3,377
7, 602
3,407
22, 621
3,355
7,769
3,667
23,064
3,376
7,932
3,624
23, 444
3,494
8,076
3,594
24,423
3,586
8,359
3,888
24,923
3,665
8,523
3,886
25,494 ' 26,335
3,772 '3,915
8,742 '9,006
3,842 '3,936
27, 207
4,154
9,285
4, 093
33, 318
3,544
11,964
11,999
33, 735
3, 493
12, 237
12, 100
33, 944
3,514
12, 358
12, 133
34,461
3,477
12,539
12,384
34, 742
3,496
12,675
12, 439
35,082
3,455
12,983
12,576
35,519
3,405
13, 203
12, 589
36,078
3,450
13,407
12,761
36,285
3,478
13,621
12,818
36,942
3,434
13,985
13,001
' 37,264
' 3, 430
' 14,135
' 13,076
37, 692
3,496
14,400
13, 035
18,212
2,588
7,187
1,401
18, 351
2,533
7,262
1,440
18, 642
2, 572
7,273
1,444
18, 613
2,549
7,249
1,483
18, 672
2, 492
7,282
1,537
18, 886
2,472
7,342
1,584
18,805
2,391
7,351
1,566
18,682
2,327
7,388
1,580
18,940
2, 320
7, 496
1,584
19,333
2,324
7,626
1,635
19,489 ' 19,415
2,317 ' 2,217
7,694 '7,685
1,617 ' 1,659
19,457
2,118
7,668
1,682
41, 429
10, 584
2, 460
4, 589
3,267
7,268
2, 626
2,627
38,364
9,760
2, 333
4,255
2,915
6,998
2,345
2,389
38, 758
9,864
2,352
4,295
2,948
7,036
2,321
2,457
39, 224
10, 042
2, 343
4,317
2, 992
7,046
2, 335
2, 484
39, 632
10, 135
2,331
4,349
3,006
7,136
2,412
2, 532
39,694
10,011
2, 399
4, 379
3, 032
7,140
2, 388
2, 539
39, 865
10, 027
2,398
4,436
3,070
7,175
2,391
2,551
40,273
10,172
2,425
4,407
3, 089
7,185
40, 790
10,432
2, 446
4, 521
3,170
7,208
2,548
2,574
41,429
10,584
2, 460
4, 589
3,267
7, 268
2 626
2,627
42,029
10,638
2, 569
4,707
3, 325
7,263
2, 731
2, 702
42,906
10,791
2, 589
4,675
3,403
7,563
2,868
2,742
' 43,486
' 11,035
' 2, 588
'4,733
'3,484
'7,655
'3,002
' 2, 742
44, 080
11,085
2,558
4,761
3,394
7,802
3,398
2, 742
15, 984
6, 571
18, 874
14, 531
6,093
17, 740
14, 660
6,134
17, 964
16,466
6,558
19,005
16,880 ' 17,062
6,745 ' 6, 732
19,28; ' 19,692
17,428
6, 905
19,747
73, SOI
2,593
9, 391
4,830
3, 472
74, 278
2,669
9, 452
4,869
3,475
8,189
15,172
11,211
16, 634
4,799
2,744
8, 230
15, 386
11,369
16, 977
5, 074
2,823
20, 887
3,328
7,017
3,139
21, 198
3,348
7,157
3,195
36, 078
3,450
13, 407
12,761
33, 114
3,509
11,801
12, 064
18, 134
2,890
7,001
1,354
18, 940
2,320
7, 496
1, 584
37, 501
9,421
2,369
4,044
2,875
7,018
2,300
2,383
13, 865
5,968
17, 668
15,010
6,151
18,063
r
2
Revised.
i Based on data not seasonally adjusted.
Advance estimate; total mfrs.
shipments for Apr. 1974 do not reflect revisions for selected components.
3 As a result of
corrections in the aircraft, missiles, and parts industry data for this component are under-
'530
2, 578
15, 350 15 ^14 15, 554 15,772 15, 868 15,984
6,416
6,177
6,323
6,571
6,298
6, 250
18, 105 17,930 18, 013 18, 178 18,506 18,874
going revision by the Bureau of the Census back to
adj.) and Mar. 1974 (unadj.) will be shown later.
arately.
2 9, 435
2 42, 608
2 7, 479
2 8, 721
2 3, 538
2 12, 233
2 10, 654
'1,669
1968. Revised data prior to Feb. 1974 (seas,
9 Includes data for items not shown sep-
June 1974
SURVEY OF CURRENT BUSINESS
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown
in the 1973 edition of BUSINESS STATISTICS
1972
1973
1973
Apr.
Annual
S-7
May
June
July
Aug.
1974
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
GENERAL BUSINESS INDICATORS—Continued
MANUFACTURERS' SALES, INVENTORIES,
AND ORDERS-Continued
Inventories, end of year or month— Continued
Book value (seasonally adjusted)— Continued
By market category:
Home goods and apparel
mil. $__
Consumer staples
..
do
Equip, and defense prod., excl. auto
do
Automotive equipment
do
Construction materials and supplies
do
Other materials and supplies
do
Supplementary series:
Household durables
. .
do
Capital goods industries
do
Nondefense
do .
Defense
do
New orders net (not seas, adj.), total
Durable goods industries, total . . .
Nondurable goods industries total
do
. do
do
New orders, net (seas, adj.), total
By industry group:
Durable goods industries, total9
Primary metals
Blast furnaces, steel mills
Nonferrous metals
...do
_. _.do
do
do
Fabricated metal products..
Machinery except electrical
Electrical machinery
Transportation eouipment
Aircraft, missiles, and parts
11,852
14,373
27, 251
6,081
8,931
39,231
13, 231
16,024
31, 140
7,305
10, 220
42, 950
12, 299
14, 613
28,237
6,323
9,044
40,061
12,426
14,849
28,338
6,432
9,235
40,345
12,586
14, 976
28,680
6,753
9,378
40,652
12, 707
15,254
28,912
6,708
9,446
40,883
12,842
15,345
29,464
6,749
9,590
40,917
12,929
15,417
29,820
7,084
9,760
41,104
13,146
15,638
30,302
7,021
9,764
41,353
13,065
15,808
30,582
7,038
10,019
41,923
13,231
16,024
31,140
7,305
10,220
42,950
13,405
16, 131
31,572
7,399
10,287
43,776
13,503
16,456
32,238
7,307
10,441
44,886
13,695
16,753
32,721
' 7, 378
10,669
45,284
13,635
16,817
33,099
7,598
10,976
46,311
5,562
30,771
25,684
5,087
6,263
35,103
29,488
5,615
5,758
31,931
26,547
5.384
5,870
32,101
26, 717
5,384
5,904
32,490
27,013
5,477
5,936
32,740
27,306
5,434
5,998
33,351
27,796
5,555
6,065
33,691
28,163
5,528
6,210
34,200
28,669
5,531
6,112
34,541
29,033
5,508
6,263
35,103
29,488
5,615
6,352
35,553
29,874
5,679
6,537 '6,682
36,205 36,752
30,368 30,786
5,837 '5,966
6,626
37,201
31,247
5,954
343, 770
392,858
32, 235
31, 977
33,572
30,657
33,496
34,275
34,832
35,072
33,581
34,382
37,322
'379,411 '79,634
do
Nondurable goods industries, total
Industries with unfilled orders 0
Industries without unfilled orders!
By market category:
Home goods and apparel
Consumer staples _
Equip and defense prod , excl. auto
Automotive equipment
Construction materials and supplies
Other materials and supplies
Supplementary series:
Household durables
Capital goods industries
Nondefense.
Defense..
_
383,465 83,262
344,736 ••44,904 2 46, 469
38,641 38,388
82, 185
60,143
29, 813
21, 670
78,642
39,913
27,436
6,656
3,604
2,147
7,042
3,729
2,316
7,015
3,817
2,232
6,658
3,493
2,219
7,150
3,912
2,296
6,325
3,068
2,338
6,868
3,309
2,516
6,730
3,109
2,582
6,597
3,014
2,557
'342,551 '41,974 ' 44,124
5,956
6,624 '6,930 ' 7, 510
2,037
3,277
2,863 '3,037
2,899
2,948
2,729 '2,764
do
do
do
do
do
48,075
63,779
57, 171
57,881
80,432
67, 473
4,488
6,411
5,710
4,861
6,644
5,696
4,672
6,719
5,682
5,008
6,902
5,676
4,903
6,647
5,701
4,982
6,922
5,537
5,135
7,174
5,816
4,997
7,313
5,788
5,237
7,308
5,399
5,144
7,087
6,269
do
do
do
343, 770
89,291
254,479
5,410
7,427
6,180
'39,106
'3 1,415
' 5, 165
5,615
'8,018
7,771
' 5, 751
6,206
' 7, 998 ' 8, 758
'1,968
1,937
2 46,731
2 9, 039
2 8, 969
392, 858
99,484
293,374
31,984
8,301
23,683
32,086
8,417
23,669
32,345
8,186
24, 159
32,448
8,242
24,206
33,424
8,370
25,054
32,870
8,260
24,610
33,721
8,465
25,256
35,126
8,687
26,439
35,265
8,601
26,664
36,624
9,033
27,591
271,896 2 80, 983
do
do. .. 2146,254 2 166, 960
do
280,395 2 93, 479
do
264,323 2 76, 200
do
2290,984 2346,423
do
6,858
13,565
6,695
13,561
6,778
13,738
6,642
13,846
6,491
14,480
6,732
13,926
6,948
14,488
7,274
14911
6,858
14,749
7,523
6,017
28, 459
7,746
6,423
29, 013
7,708
6,240
29,377
8,322
6,406
29,176
8,060
6,417
29, 726
8,105
6,458
28, 801
8,307
6,630
30,182
8,018
6,558
30,427
6,887
6,897
30,199
7,561
7,062 '7,488
15,159 ' 15,215 15, 149
'311,362 ' 11,061 11,606
6,882
6,848
6,429 ' 6, 394
6,539
6,779 ' 6, 577 6,977
31,014 32,620 ' 32,899 34,044
231,645
2 36, 761
3,077
3,007
3,078
3,154
2,996
3,055
3,220
3,358
3,015
3,168
3,153
'313,763
'311,618
'3 2,145
' 3, 375 ' 3, 336 2 3, 589
' 12,762 ' 13,452 2 13, 903
'11,300 '11,925 '11,771
' 1, 462 '1,527 2 2, 132
3,969
4,737
4,728
4,822
4,761
4,704
4,663
4,602
4,640
4,679
4,737
4,958
5,037
'3123,647 126, 037
'3117,42 '119,632 2 122,057
' 5, 117
5,254
do
do
do
do
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), total
mil $
By industry group:
Durable goods industries, total 9
do
Primary metals
do
Blast furnaces, steel mills
do
Nonferrous metals
do
Fabricated metal products
do
Machinery, except electrical
do
Electrical machinery
do
Transportation equipment.
_
do
Aircraft missiles, and parts
do
Nondur. goods ind. with unfilled orders©. .do
By market category:
Home goods, apparel, consumer staples... do
Equip, and defense prod. , incl. auto
doConstruction materials and supplies
_do
Other materials and supplies
do
Supplementary series:
Household durables
.
do
Capital goods industries
. dc
Nondefensedo
Defense
_.
do
36,860 ' 37,573
8,902 '8,908
27,958 ' 28,665
38,073
9,290
28,783
7,135
15,283
'3119,723 '121,075 124, 129
7,964
5,008
1,861
14,844
9,884
2,787
10, 623
7,000
2,305
11, 954
8,025
2,506
13, 181
9,089
2,560
13, 815
9,658
2,534
14, 798
10, 540
2,528
14, 857
10,459
2,582
14,996
10,309
2,730
14,934
10,051
2,816
14,844
9,884
2,787
'3114,708
14, 033 13, 773
8,401
8,701
3,106
3,058
10, 926
14, 917
15, 748
15, 122
22,002
19, 718
11,650
16, 866
17, 166
12,024
17, 365
17,566
12,285
17, 926
17, 984
12,686
18,587
18,256
13,206
19, 118
18, 610
13,842
19, 798
18, 857
14,329
20, 621
19,300
14,614
21,321
19,706
15,122
22, 002
19,718
15,486
22,438
20,459
4,034
4,832
4,635
4,720
4,708
4,686
4,723
4,694
4,712
4,718
4,832
2,432
2,881
2,663
2,668
2,770
2,877
2,761
2,806
2,885
2,978
2,881
2,949
10, 270
28,953
14, 165
42, 353
10, 915
33, 700
11, 258
35,511
11,477
37, 425
11,785
38,652
12, 274
40, 136
12, 805
40, 747
13, 323
41, 654
13,581
42,129
14, 165
42, 353
14,512
42,321
1,933
2,254
2,112
2,127
2,230
2,288
2, 201
2,213
2,281
2,379
2,254
2,289
316, 601
329,546
29,
304
9
8 5°°
30, 476
29,003
27, 999
27, 797
27,664
26, 542
26, 689
23, 158
26,241
26, 931
26, 809
24, 268
26, 718
23, 145
24, 627
16,073
23,156
21,018
'332,731
'312.552
5,015
5,061
'114,927 '117,817 2121,937
' 13,645 ' 14,106 2 15,668
8,114
' 8, 019
' 3, 136
3,295
' 16,401 17, 135
' 24,207 25, 059
' 21,140 21, 592
'31,430 '31,490
' 19,968 19, 708
' 5, 028
5,158
2,852 ' 2, 906
'358,755 ' 59,462
14,917 ' 15,164
43,199 ' 43,543
2, 208 ' 2, 249
'365,785 ' 65,406
'343,048 '43,728
'322,737 '21,678
231,738
2, 954
60, 748
15, 686
44, 741
2 2, 352
'2,300
' 66,716 2 68, 384
' 45,094 2 46, 298
'21,622 2 22, 086
BUSINESS INCORPORATIONSG
New incorporations (50 States and Dist. Col.):
Unadjusted
number
Seasonally adjusted!
do
INDUSTRIAL AND COMMERCIAL
FAILURESG
Failures, total
number
Commercial service .
do
Construction
do
Manufacturing and mining...
do
Retail trade
do
Wholesale trade
do
Liabilities (current), total
thous $
Commercial service
do
Construction
_.
do
Manufacturing and mining
do
Retail trade
"do
Wholesale trade
do
Failure annual rate (seasonally adjusted)
No. per 10,000 concerns
9,566
9, 345
1,252
1,182
1,375
1,419
1,576
1,463
4,398
4,341
965
940
2,000,244 2, 298, 606
231, 813 244, 958
193, 530 309. 075
766, 991 797, 490
558, 270 672, 831
249, 640 274, 252
9g 9gg
971
802
797
795
796
772
739
714
837
717
838
693
840
143
97
99
99
102
94
89
114
109
94
105
97
86
161
140
153
126
119
112
121
107
139
114
124
120
149
149
112
131
135
112
130
117
116
120
130
119
125
106
412
386
333
361
334
331
396
301
396
316
411
301
390
106
67
81
74
75
85
83
60
73
69
73
86
96
119, 343 167,946 180, 209 206, 186 190, 147 189, 473 185, 660 218, 673 245, 618 337, 284 213, 133 204, 587 209, 758
9,822 37, 197 17, 188 21,054 30, 201 22,378 29, 759 69, 548 20, 508 19, 652 65, 332
8,071
9,290
19, 202 37, 962 16, 928 33, 800 21, 225 44, 024 34, 791 16, 444 24, 807 47, 237 47, 085 36, 391 20, 134
38, 588 57, 965 89, 959 55, 995 55, 207 54, 935 60, 400 44, 707 65, 696 88, 618 96, 031 60, 849 39, 928
33, 528 33, 665 36, 923 42, 572 68, 438 46, 552 41,487 115,026 113,393 106, 240 27, 687 65, 383 38, 726
19, 954 29, 067 26, 577 36, 622 28, 089 22, 908 18,781 20, 118 11, 963 25, 641 21, 822 22, 312 45, 638
« 38. 3
236.4
35.2
38.2
36.3
. p Preliminary.
1 Advance estimate; totals for mfrs. new and unfilled orders
101 Apr. u / 4 do not reflect revisions for selected components.
2 Based on unadjusted data.
9 Inc}
fl?T°GpiC(TSf 0nAing ",?te °}l P" S~6udes data for items note hown separately.
©includes textile mill products, leather and products, paper and allied products, and
printing and publishing industries, unfilled orders for other nondurable goods are zero
28, 616 p25, 098
26, 208 p26, 885
34.1
40.8
37.5
35.5
35.7
34.7
39.1
37.0
35.7
38.6
1f For these industries (food and kindred products, tobacco manufactures, apparel and othe 1
textile products, petroleum and coal products, chemicals and allied products, and J'uouer
and plastics products) sales are considered equal to new orders.
O Compiled by uuii &
Revised 1back to Mar.
Bradstreet, Inc. (failures data for 48 States and Dist. of Col.).
tt Revised
1971 to reflect new seas, factors; revisions prior to Feb. 1973 will be shown later.
S-8
SURVEY OF CUERENT BUSINESS
Unless otherwise stated in footnotes below, data
1972
the 1973 edition of BUSINESS STATISTICS
1973
1973
Annual
June 1974
Apr.
May
June
July
Aug.
1974
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
COMMODITY PRICES
PRICES RECEIVED AND PAID BY
FARMERS
Prices received, all farm products
1910-14 = 100..
Crops9
- do
Commercial vegetables _ _ _
_
do
Cotton
_
__do
Feed grains and hay
_
do
Food grains
__do _
Fruit
.do
Tobacco
_ - _ _ _ do
Livestock and products 9 _ __ .
_ _ . do_ _
Dairy products
do
Meat animals
do
Poultry a n d eggs _ _ _ _ _
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
CONSUMER PRICES
(U.S. Department of Labor Indexes)
Not Seasonally Adjusted
All items
. _
_ _ 1967=100..
Special group indexes:
All items less shelter
. __
_ do_ _
All items less food
_
._
do
All items less medical care .
do
Commodities
do _
Nondurables
_
do_ __
Nondurables less food
do
Durables
_ . do _.
Commodities less food
...do ...
Services
do
Services less rent
. - ..do
Food 9
do
Meats poultry, and
fish
do
Dairy products
do
Fruits and vegetables
do
Housing
do
Shelter9
do
Rent
do
Ilomeownership.
... _ _
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
Seasonally Adjusted!
Food. --. . - . .
do
Food at home
_
do
Fuels and utilities
do
Fuel oil and coal
do
Apparel and upkeep
do
Transportation
do - .
Private
do
New cars
do
Commodities _
do
Commodities less food
do...
320
'260
'328
-245
183
192
'273
685
339
366
494
137
'438
'370
'379
'274
'283
'378
'332
'718
-496
-428
' 666
' 232
-401
-323
-437
229
220
-263
-317
707
-468
-383
-642
211
-414
348
-408
255
243
-264
-323
707
-471
-381
-651
-206
437
385
-427
249
281
-294
-362
706
-482
-382
-666
221
-439
-367
-423
259
288
-299
-317
-705
-500
-391
-693
-232
-529
-444
-356
-316
363
506
-346
-710
-604
-428
-847
-307
-485
-411
-342
-323
325
-537
-349
-731
548
-467
-726
-280
468
'408
-323
-322
331
-506
-377
-728
-521
-493
-671
-252
-461
-410
-338
-335
330
518
-339
-738
-506
-511
-637
-242
-470
-441
-343
-403
351
570
-324
-768
-495
-519
-606
250
-504
-470
-352
-429
376
620
-339
-762
-534
-523
680
255
-513
-497
-407
-439
400
649
-332
764
527
-524
668
252
-492
-489
-357
-452
391
596
339
-764
495
525
615
228
466
463
-369
494
351
486
334
-765
469
521
577
205
445
455
429
412
365
440
347
765
437
503
534
178
371
401
350
430
444
420
413
433
399
421
438
409
434
443
428
433
443
426
451
453
451
447
456
441
447
458
439
452
470
439
458
472
448
469
480
461
475
492
463
480
500
466
489
504
479
492
513
477
432
74
496
88
481
83
488
85
501
87
500
88
517
102
513
95
514
91
519
89
525
-90
538
94
545
'94
549
90
562
83
564
79
125.3
133.1
130.7
131.5
132.4
132.7
135.1
135.5
136.6
137.6
138.5
139.7
141.5
143.1
144.0
145. 6
122.9
125.8
124.9
120.9
121.7
119.8
118.9
119.4
133.3
135.9
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
131.1
130. 7
132.9
129. 9
132. 8
124. 8
121. 9
123- 5
139. 1
141.8
141.4
160. 4
127. 9
142. 5
128.9
129.1
130.5
127.4
129.7
123.3
121.0
122.3
137.1
139.6
136.5
155.4
121.8
141.8
132.8
138.1
123.2
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
129.7
129.7
131.3
128.3
130.7
124.0
121.8
123.0
137.6
140.1
137.9
155.6
123 2
144.6
133.3
138.7
123.7
144.2
125.4
129.3
125.7
123.9
126.7
123.5
121.3
111.1
120.6
143.9
129.6
136.6
124.4
125.6
130.6
130.3
132.2
129.4
132.0
124.7
122.3
123.7
138.1
140.7
139.8
156.5
124.1
151.7
133.9
139.4
124.0
145.0
125.6
131.6
125.4
124.7
126.8
124.6
122.4
111.0
122.3
144. 9
130.0
137.0
124.9
125.9
131.0
130.4
132.5
129.7
132.4
124.4
122.4
123.5
138.4
141.0
140.9
157.8
124.1
153.7
134.2
139.7
124.4
145.2
125.7
131.7
125.5
125.0
125.8
124.8
122.6
110.9
122.7
144.9
130.3
137.3
125.3
126.2
133.5
130.9
135.0
132.8
136.6
124.7
122.6
123.8
139.3
141.9
149.4
184.0
126.6
152.6
135.2
141.1
125.0
147.0
126.3
132.8
125.8
125.3
126.5
124.5
122.3
110.6
121.3
144. 9
130.5
137.6
125.7
126.1
133.6
131.8
135.4
132.8
136.5
125.5
122.6
124.3
140.6
143.4
148.3
180.2
130.3
137.3
136.6
142. 9
125.4
149.2
126.8
133.6
126.5
126.1
128.3
123.9
121.6
109.1
120.3
145.5
131.1
138.3
126.3
126.8
134.5
133.1
136.4
133.5
137.4
127. 0
123 2
125.4
142. 2
145. 2
148.4
170.7
137.3
138.8
138.1
144.7
125. 9
151.5
128. 6
141.1
127. 4
126.7
129. 6
125. 0
122. 9
111.9
118.5
145. 2
132. 1
140.6
127. 3
127. 2
135.6
134.0
137.5
134.7
138.9
128.5
123.3
126. 3
143.0
146.1
150.0
167.4
141. 2
143.7
139. 4
145.6
126. 3
152. 6
132.1
155.6
129. 8
127.5
130.5
125.8
123. 8
112.2
116.1
144.6
132.6
140. 9
128.1
127.5
136.5
134.8
138.4
135.7
140.3
130.0
123.2
127.1
143.8
146.9
151.3
165.8
144. 9
145.3
140.6
146.4
126.9
153.6
135.9
172.8
131.0
128.0
130.5
126.7
124.6
112.0
112. 6
146.5
133.0
141.4
129.2
127.6
137.8
135.6
139.7
137.0
142.1
131.3
123. 3
127. 9
144.8
148.0
153.7
169. 2
146.3
149.7
142.2
147.4
127.3
154.8
140.8
194.6
134.3
129.0
128.8
128.1
126.2
112.9
107.0
146.0
133.7
142. 2
129. 8
128.3
139.8
136.8
141.5
139.3
145.2
133.5
123.4
129. 2
145.8
149.1
157.6
174. 2
149.3
155.9
143.4
148.3
128.0
155.8
143.5
202.0
137.3
130.1
130.4
129.3
127.5
112.7
103.0
146. 2
134.5
143.4
130.8
128.9
141.5
138.4
143.1
141.0
147.2
136.1
124.3
131.1
147.0
150.4
159.1
171.6
151.5
162.5
144.9
149.4
128.4
157.2
144.9
201.5
140.0
132.6
132.2
132.0
130.4
112.8
102.2
146.6
135.4
144.8
131.8
129.5
142.4
139.7
144.0
141.9
147.8
137.7
126.1
132.8
147.9
151.4
158.6
164.4
153.7
163.0
146.0
150.2
128.8
158. 2
- 146. 9
206.5
134! 0
133.6
134.4
133.1
113.3
110.7
146.3
136.3
145.6
133.1
130.4
144.2
141. 5
145.6
143.7
149.3
139. 5
128.5
134. 9
149. 4
153.1
159. 7
158. 6
154. 6
177.7
147.6
151.3
129. 3
159. 4
148.6
211.0
143. 9
137.0
135. 0
137.6
136.6
114.6
121.9
146.3
137.7
147. 2
134.9
132.0
136.1
136.0
124 6
127. 5
125. 8
122. 7
120.4
110.7
127.4
122 4
137.8
137.5
195 1
129.2
196 9
123.1
120. 9
110. 9
128.2
1 99 8
139. 5
139. 5
125 9
132.0
1°6 7
124.0
121.7
111.3
129. 1
193 3
139. 9
139. 5
126.0
132. 9
196 9
124. 3
122.0
111.8
129. 3
123.6
148.4
150. 1
126. 6
133.3
127. 9
124.4
122. 2
112.1
132.7
124. 0
148.0
148.8
127. 3
134.1
128. 0
124. 9
122.6
112.6
132.7
124. 4
149. 1
149. 7
129. 2
141.8
128.6
125. 0
122.8
111.8
133.5
125. 0
151.2
151. 6
132.2
156. 2
129.1
125.8
123.7
111.6
134.7
125. 9
151.9
152.4
136.0
173.3
129.5
126.6
124. 5
111.0
135.7
126.7
154.5
155.2
140.7
193. 6
129.8
127.8
126.2
111.2
137.6
128. 3
157.9
159. 3
142.9
200.4
131.2
129.7
128.0
111.4
139.7
129.7
158.8
160.0
144.2
199.3
132.5
132. 5
131.1
112.0
141.1
131.5
158.1
158.
-146.
205.
133.
134.
133.
112.
141.
132.
159. 5
160. 2
148.3
210. 8
134. 5
137. 2
136.2
114.4
143.6
134.6
158'. 6
162.9
133.5
171.2
172.8
170.1
136.7
181.9
187.2
178.1
134.9
207.8
236. 6
189.8
142.7
194.9
208.0
186.3
140.2
192.0
197.7
188.1
139.5
192.1
191. 5
192. 4
141.8
204.3
197.7
208.9
145.3
213.3
209.4
215.9
150.4
232.0
231. 9
232.0
152.7
233.0
226.8
237.2
154.5
230.8
220. 1
238. 4
-152.7
221.6
215.1
226.2
155.0
200.6
205.6
182.7
207.5
185.7
186.4
201.3
177.5
174.0
158.8
170. 9
197.1
167.7
' 128. 4 -131.3 ' 134. 0 '131.7 ' 135. 8 - 133. 7 -134.3 - 135. 4 - 138. 5 - 142.0 ' 144. 6 - 149. 1
' 132. 0 - 133. 6 ' 137. 4 - 140. 1 -141.0
'12?!< '125.4 ' 126. 2 '127.4 ' 127. 7 - 131.9 '131.2
' 129. 2 ' 126. 3 ' 127. 1 ' 128. 6 ' 128. 9 - 134. 2 r 133. 2 T 133! 0 ' 133. 8 - 135. 5 ' 139. 9 - 143. 2 ' 143. 8
130. 9
129.3
125. 7
128.3
125.1
126.7
123. 9
123.4
123. 5
123.5
124.2
122.3
123.1
' 192. 7
' 152.8
' 142.1
- 144.7
132.4
135. 0
140. 7
1°4 2
146.7
126. 9
136.0
126. 4
124. 9
126.8
123.8
121 5
111.1
117.6
144.8
130, 2
137.7
125. 2
125. 9
WHOLESALE PRICESd1
(U.S. Department of Labor Indexes)
Not Seasonally Adjusted
Spot market prices, basic commodities:
22 Commodities . .
1967 = 100
9 Foodstuffs
do
13 Raw industrials
do
All commodities
do
By stage of processing:
Crude materials for further processing
do
Intermediate materials, supplies, etc
do
Finished goodsO
do
Consumer finished goods
do
Producer finished goods
do.-.
By durability of product:
Durable goods.
do
Nondurable goods _
do
Total manufactures
do__.
Durable manufactures
__
do
Nondurable manufactures
do___
i 120. 0
l 115.0
123. 0
119.1
1
127.6
118.7
117.2
116.6
119.5
i 173. 8
i 175. 2
i 173. 1
135.5
152.9
145.4
158.2
130.7
139.8
136.5
131.1
134.8
132.7
129.7
127.0
128.5
128. 9
128.0
128.0
128. 2
' 137. 1 '141.9 ' 139. 1 - 152. 3 ' 147. 8 - 145. 5 - 145. 4 - 148. 6 r 155. 5 ' 159. 3 ' 160. 1
' 126! 4 ' 128. 3 ' 130. 1 ' 129. 1 -133.4 ' 131.8 ' 132. 0 '132.8 ' 135. 1 - 138. 6 - 140. 9 ' 143. 6
137.9
135.0
130.1
133.8
131.6
129.0
127. 6
128.0
128.3
126.7
127.8
127.7
' 126. 1 - 129. 0 '132.4
130.7 ' 138. 8 ' 135. 3 ' 135. 0 ' 135. 5 ' 138. 6 r 143. 4 ' 146. 8 ' 149. 4
^Computed by BEA.
9 Includes data for ite us not si"town sepa rately.
§ Rati 3 Of
JEf 'ective J Line 1974 Survey, indexes have beejn restat 3d to reflLect new
prices received, to prices paid (parity index).
d* For actua 1 wholesale prices <3f indiviclual
data for perioc Is prior t o April 1973 on tlle new ) asis will oe showii later.
commodities see respective commodities.
O Goc)ds to use?rs, incl. ]"aw food s and filels.
121.1
117.6
117.9
121.1
114.7
127. <
-129! I
127. <
186.5
157.6
143.8
146.0
135. 9
147.3
160.8
149.3
145.6
141.1
153.1
- 150. 9
seasonal factors ;
143.4
- 159. 7
r 146. 0
SURVEY OF CURRENT BUSINESS
June 1974
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown
in the 1973 edition of BUSINESS STATISTICS
1972
1973
1973
Annual
S-9
Apr.
May
June
July
Aug.
1974
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
COMMODITY PRICES—Continued
WHOLESALE PRICESd"— Continued
(17. S. Department of Labor Indexes')— Continued
All commodities — Continued
Farm prod., processed foods and feeds. 1967 =100..
122.4
159.1
147.9
154.9
163.6
156.9
184.5
173.5
166.8
164.4
168.0
177.8
180.6
176.2
169.6
167.4
Farm products 9
do
Fruits and vegetables, fresh and dried-do
G rains
do
Live poultry
do
Livestock
do
125.0
127.6
102.9
104.0
142.5
176. 3
168.1
183.6
179.5
190.4
160.6
176.0
130.9
185.8
184.1
170.4
186.0
149.9
180.3
188.7
182.3
197.5
178.6
184.5
193.8
173.3
187.8
157.2
189. 5
199.3
213.3
162.2
266.4
269.7
243.3
200.4
149.0
231.5
226.5
207.4
188.4
162.1
229.0
189.2
185.5
184.0
168.2
220.8
154.4
180.0
187.2
171.6
248.7
144.5
171.0
202.6
184.5
270.8
143.2
197.3
205.6
214. 5
278.1
179.8
195.1
197.0
210.6
263.0
166.1
181.1
186.2
226. 9
213.0
146.0
169.0
180.8
236.8
210.4
146.9
159.1
Foods and feeds, processed 9 .
do
Beverages and beverage materials _ . do
Cereal and bakery products
do
Dairy products
.
_
_ do
Fruits and vegetables, processed
do
Meats, poultry, and fish
do
120.8
118.0
114.7
118.6
119.7
130.0
148.1
121.7
134.4
131.1
129.6
167.5
139.8
121.4
123.7
127.2
126.6
163.2
145.0
121.9
124.3
126.5
127.2
162.5
151.8
121.4
125.9
127.5
127.9
164.9
146.5
121.1
125.5
127.1
127.7
169. 7
166.2
121.2
136.2
131.3
129.3
198.3
156.3
121.6
147.7
137.2
130.0
187.3
153.1
123.0
150.5
139.6
135.0
170.2
151.9
123.8
156.2
139. 9
136.3
165.0
155.7
124.4
160.1
142.3
137.8
164.9
162.1
125.6
166.3
145.1
139.3
177.8
164.7
126.0
169.5
147.6
140.7
179.7
163.0
129.3
172.3
151.2
141.2
165.5
159.1
132.3
167.1
154.1
142. 8
157.6
158.9
134. 5
167.1
146. 9
145. 2
153.4
do
117.9
r 125. 9
' 124. 2
126. 1 ' 126. 7 ' 127. 4 ' 128. 5 r 130. 1 ' 132. 2 ' 135. 3 ' 138. 2 ' 142. 4 ' 146. 6
150.5
- - do
do
do
do
do
do
104.2
91.7
101.2
103.0
115.8
118.0
110.0
96.6
103.4
104.3
228.3
107.7
94.5
102.6
103.8
184.0
120.3
110.8
96.7
103.4
104.4
263. 2
121.0
132.3
118.2
130.9
107.6
385.4
135.4
137.0
118.3
138. 2
109. 1
359.3
136.0
Fuels and related prod., and power 9 - - do
Coal
do
Electric power
do
Gas fuels
do
Petroleum products, refined
do
118.6
193.8
121.5
114.1
108.9
' 134. 3
218.1
199 3
126.7
r 128. 7
162. 5 ' 177. 4 ' 189. 0 ' 197. 9
303.7
252. 9
259.3
249.3
153.4
148.9
142.2
137.5
148.6
149.0
146.4
137.1
166. 4 ' 187. 8 ' 206. 3 '215.8
204.3
307.7
159.7
150.0
224 .4
Furniture and household durables 9 . .
Appliances, household _ _
__
Furniture, household
Home electronic equipment
do
_do ...
do
do
111.4
107.6
117.3
92.7
115. 2
108. 5
123.0
91. 9
114.1
108.3
121.8
92.2
115.1
108.0
122.3
92 2
115.2
107.4
123.3
91.6
115.2
107.7
123. 2
91.6
115.9
109.0
123.6
92.0
116.0
109.0
124.4
91.5
116.6
109.1
125.2
91.5
117.2
109. 5
126.6
91.5
117.5
109.8
127.1
91.1
119.0
111.3
128.9
91.3
120.2
111.6
129.8
91.4
121.3
112.5
130.3
92.2
122.9
113.2
132.8
92.2
124. 5
114.0
134. 9
92.5
do
do
do
do _ _ .
do
do
131.3
124.5
213.7
140.3
144.3
159.4
143.1
130. 5
253 9
160.1
177 °
205.2
145.0
131.5
270.2
161.1
182.0
207.2
142.2
129.3
253.5
159.7
186. 9
215.4
140.9
129.3
241.6
156.4
183.1
214.8
141.4
129.5
246.3
156.8
177.8
209. 6
143.0
129.7
261.6
157.5
178.8
210.8
143.8
130.3
257.3
162.8
181.9
216.9
143.8
131.0
256.3
160.7
180.3
214.5
143.0
131.9
239.8
160.4
184.7
211.1
141.9
132.5
227.3
156.1
186.1
214.8
142.6
134.0
220.9
155.7
183.7
213.3
143.4
134.9
222.0
155.1
184.1
212.6
143.4
135.9
201.7
156.7
191.3
221.4
145.4
138.1
211.2
158.4
200.2
230. 9
146.3
138.7
218.6
159.3
198.0
227.3
Machinery and equipment 9
.do
Agricultural machinery and equip
-do
Construction machinery and equip
do
Electrical machinery and equip .
do
Metal working machinery and equip
do
117.9
122.3
125.7
110.4
120.2
121.7
125.9
130.7
112.4
125.5
120.8
124.7
130.4
111.7
124.5
121.5
125.0
130. 9
112.3
125.2
121.9
125.4
131.3
112.7
125. 6
122.0
125.5
130.9
112.7
125.8
122.3
125.5
131.4
112.7
125.8
122.6
125.6
131.4
112.8
126.6
123.1
127.5
132.5
113.0
127.5
123.8
128.9
132.7
113.3
128.0
124.6
129.4
134.1
114.0
128.9
126.0
130.9
135.6
115.1
131.2
127.0
131.2
137.0
115.7
132.1
129.0
132.6
138.6
116.9
134.3
130.8
133.4
140.1
118.5
136.6
134.1
137.8
145. 1
120.6
140. 9
Metals and metal products 9
. . _-do .
Heating equipment
._ _ _
do
Iron and steel
do
Nonferrous metals
....
-do__
123.5
118.2
128.4
116.9
132.8
120.4
136.2
135.0
130.5
120.5
134.0
131.4
131.7
120.2
135.3
133.2
132.5
120.7
135.9
135.0
132.8
120.9
135.9
135.9
133.7
120.7
136.0
137.9
134.4
120.7
136.5
138.5
135.9
120.8
138.6
140.7
138.5
121.1
141.6
144.9
141.8
121.6
142.4
155.6
145.0
122.9
144.7
161.1
148.0
123.7
148.9
165.0
154.7
124.4
157.7
176.3
161.2
127.5
164.9
186.5
168.7
130.0
169. 1
200.4
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 _ _ -
126.1
130.2
130.0
130.5
131.1
130.0
130.0
129. 9
130.9
131.5
132.6
138.7
142.1
144.2
146.7
150. 7
117.3
125.6
114.7
113.4
116.3
109.3
109.2
123.3
131.7
120.9
121.4
112. 4
111.4
123.0
130.8
119.6
119.8
120.2
110.6
109.4
123.6
131.5
120.4
120.7
120.8
111.5
110.0
123. 8
132.3
124.1
122.0
122.5
112.6
110.4
123.8
132.3
122.9
122. 3
121.8
112.9
110.4
123.9
132.3
122.5
123.3
121.5
113.1
110.4
123.9
132.5
122.0
124.4
121.7
112.8
110.4
124.6
133.6
122.4
125.8
122.3
114.0
115.1
124.6
134.1
122.0
127.6
124.7
114.8
116.3
124.8
134.5
123.3
128.7
125.2
116.5
116.3
127.2
139.8
127.9
131.8
126.8
117.7
118.0
128.3
142.3
130.0
132.9
127.7
119.8
121.2
130.8
144.7
129.6
137.2
132.6
123.8
128.8
131.5
145.3
132.7
144.4
140.1
129.4
129.6
132. 7
147.7
133.3
146.6
141.9
133.7
129. 9
Textile products and apparel 9
Apparel
Cotton products
_
Manmade fiber textile products
Textile housefurnishings
Wool products. __ _
do
do
do
do. do
do
113.6
114.8
121.8
108.0
109.2
99.4
123.8
119.0
143.6
121.8
113.3
128.2
120.8
117.7
133.3
118.7
110.5
129.8
122.3
118.4
137.4
121.5
110. 5
127.5
123.7
118.8
141.3
122.9
111.5
131.3
124.2
118.8
144.6
123.1
111.5
132.1
125.2
119.3
147.3
123.7
112.2
134.9
126.8
119.5
153.1
126.7
112.3
133.7
128.5
121.5
155.5
127.7
115.2
130.2
130.0
121.9
161.2
128.6
119. 1
128.9
131.4
122.2
165.2
129.7
126.4
128.7
133.8
123.7
171.5
130.7
133.0
128.6
135.2
124.6
173.0
132.8
133. 5
129.7
136.1
125.2
173.7
133.6
135.2
127.9
137.5
127.0
175.1
135.2
136.7
121.1
139.1
128.0
174. 9
138.1
143.6
121.1
Transportation equipment 9. . .Dec. 1968=100..
Motor vehicles and equip
1967=100
113.7
118.0
115.1
119.2
114.9
119.0
115.1
119.1
115.0
118.9
115.0
119.0
115.1
119.0
114.5
118.3
115.9
120.0
116.1
120.1
117.3
121.4
118.6
122.9
118.9
123.1
119.1
123.2
119.4
123.3
121.4
1 24. 9
Industrial commodities.
Chemicals and allied products 9
Agric. chemicals and chem. prod
Chemicals, industrial .
Drugs and Pharmaceuticals
Fats and oils, inedible.
Prepared paint
Hides, skins, and leather products 9
Footwear
Hides and skins
Leather..
. _
Lumber and wood products
Lumber
_
199 9
199 1
r
109.3
94.7
102.7
104.0
232.0
120.8
'
213.8
127.6
120.1
'122.6 r
r 129 2
125. 3 '126.0
110.4
95.0
103.0
104.4
263.6
121.0
r
111.0
95.9
103.5
104.3
273.2
121.0
111.5
95.9
104.3
104.7
279. 5
121.2
112.7
95.9
105.3
104.7
273.0
126.0
113.5
104. 9
105.4
104. 9
241.8
128. 1
115.6
106.1
105.9
105.1
286.0
128.6
131. 1 ' 133. 4 ' 134. 7 r 135. 2 ' 137. 4 ' 139. 3 ' 144. 1 ' 151. 5 '
214. 2
214. 0
222.6
215.1
214.4
239. 0
224.1
240.7
129.0
128. 2
128.4
129.1
130. 9
133.5
132.1
135.9
128.7
121.4
128.0
130.4
132.2
133.1
133.4
137.6
125. 0 ' 127. 6 ' 129. 9 ' 130. 3 ' 131.2 ' 134. 0 ' 140. 3 ' 151. 7 '
118.2
112.3
108.1
105.3
298.0
130.1
120.2
113.1
110.2
105. 7
335.7
130.1
127.3
118.1
122.0
106.2
372.4
132. 5
Seasonally Adjusted
By stage of processing:
Crude materials for further processing
Intermediate materials, supplies, etc
Finished goods:
Consumer finished goods
Food
Finished goods, exc. foods
Durable.
Nondurable
Producer finished goods ..
do
do
' 144. 8
125. 9
do
do
do
do
do
do
126.6
141.1
117.3
115.1
118.8
192 9
127.0
142.0
117.8
115.6
119.4
123.0
128.3
144.6
118.3
115.9
120.0
123.4
128.3
143.3
118.6
116.1
120.4
123.6
133.9
158.3
119. 1
116.5
120. 9
124.1
133.1
154.4
119. 5
116.9
121.1
124.7
133.8
155.9
120.4
117.2
122.7
125.4
134. 9
156.0
121.8
117.1
124. 9
125.8
136.0
157.4
123.0
117.5
126. 6
126.6
139.6
162.1
125. 5
119.1
130.2
128.0
142. 5
166.0
128.1
119.7
133. 9
128. 9
143.5
163.8
130. 9
120.7
137. 8
130.6
145.0
163.6
133.4
121.8
141.2
132.3
By durability of product:
Total manufactures
Durable manufactures
Farm products
Processed foods and feeds
do
do
do
do
126.1
126.1
160 ()
140.4
127.9
127.3
168.4
144.7
129. 8
127.5
177.7
151.2
128.7
127. 5
169. 7
144.6
133.0
128.1
213.1
165.5
132.1
128.7
201.6
156.0
132.5
129. 5
193.6
155.3
133.6
130.6
191.3
154.2
135.6
132.0
190. 6
157.0
138.7
133.8
203.2
162.1
140. 6
134. 9
202.6
163.4
143.2
137.5
193.5
161.9
145.7
140.4
186.6
159. 7
148.9
145.2
178.7
158.6
$0. 840 ' $0. 744r $0.766 r $0.751 ' $0.735 ' $0.745 ' $0.704 ' $0.716 ' $0.721 ' $0.718 ' $0.705 ' $0.682 r $0.669 ' $0.661 ' $0.655
.694
.799
.699
.722
.716
.707
.754
.727
.752
.732
.760
.740
.738
.765
.755
$0. 645
.687
' 148. 3
127.5
' 152. 5 ' 154. 4 ' 157. 3 r 162. 1
128.2
130.2
128.3
129.2
' 165. 7 r 175. 1 ' 180. 7 ' 188. 0 ' 200. 9 '211.8 ' 221. 7 '214.6
155.6
145.5
150.2
135.6
138.0
140.5
131.4
133.1
145. 9
162.6
135.7
123.6
144. 2
135.8
PURCHASING POWER OF THE DOLLAR
As measured byWholesale prices
Consumer prices
f
Revised;
1967=$1.00._
do
cfSee corresponding note on p. S-8.
550-325 O - 74 - S-2
9 Includes data for items not shown separately.
SURVEY OF CURRENT BUSINESS
S-10
1973
1972
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown
In the 1973 edition of BUSINESS STATISTICS
June 1974
1973
Annual
Apr.
May
June
July
Aug.
1974
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
CONSTRUCTION AND REAL ESTATE
CONSTRUCTION PUT IN PLACE
New construction (unadjusted), total
Private total 9
Residential (including farm)
New housing units
mil. $.. 123,836
135,079
10,731
11,482
12,050
1C,242
12,614
12,469
12,225
11,746
10,686 ' 9, 454
93,640
54, 186
44, 736
102,568
57,720
47 746
8 151
4,639
3 822
8 635
4,923
4 096
9 151
5,264
4 411
9,393
5,437
4 544
9,554
5,473
4 558
9,347
5,328
4,411
9,238
5,043
4,146
8,886
4,722
3,848
8,240
4,286
3,464
24 036
4,676
13 462
27 758
6 058
15 569
2 194
437
1 235
2 302
446
1 322
2 428
510
1 372
2 483
545
1 384
2,550
587
1 422
2,487
560
1 408
2,563
600
1,442
2,504
582
1,405
2,393
622
1,286
2,155
509
1,183
2,174
553
1,170
353
271
-do
. do
do
Nonresidential buildings, except farm and public utilities, total 9
mil. $
Industrial
do
Commercial
do
Public utilities:
Telephone and telegraph
do
Public total 9
Buildings (excluding military) 9
Housing and redevelopment
Industrial
Military facilities
Highways and streets
-
10, 965
' 2, 314
'569
»• 1, 246
2,526
618
1,370
3 283
3 956
299
336
356
348
379
346
383
388
281
359
32,511
2,580
2,847
2,899
2,849
3,060
3,122
2,987
2,860
' 2, 446 ' 2, 332 '2,584
r 2, 610
do
do
do do
do
11,500
875
534
1,080
10 448
12 995
941
605
1 162
10 569
1,131
74
52
85
727
1 162
75
52
106
888
1,066
81
57
107
1 015
1,020
83
43
101
1 082
1,061
75
42
103
1,144
1,085
64
48
89
1,172
1,129
114
53
96
1,059
1,149
97
52
94
927
'1,065 '1,007
' 72
'58
58
57
99
'97
'651
'735
' 1, 155
'73
54
'93
701
1,115
69
68
'•lOO
675
133.9
134.2
133.7
136.5
136.4
136.2
135.9
134.8
133.4
132.8
134.9
' 134. 8
136.2
105.3
103.0
102.4
101.9
99.6
98.4
99.2
'98.7
99.7
Residential (including farm)
do
New housing units
do
Nonresidential buildings, except farm and public utilities, total 9
bil. $
Industrial
do
Commercial
do
Public utilities:
Telephone and telegraph
do
Buildings (excluding military) 9
Housing and redevelopment
Industrial
Military facilities
Highways and streets
9, 886
' 7, 122 ' 6, 742 r' 7, 276 8,068
'3,637 ' 3, 295 r 3, 553
4,010
' 2, 951 ' 2, 671 2, 835
3,075
30, 196
do
Public total 9
r
do
New construction (seasonally adjusted at annual
rates) total
bil. $
Private total 9
' 9, 326
2,897
107
101.3
101.8
102.7
105.0
58.1
48.9
57.5
49 2
58 1
49 5
59.0
49.5
59.2
49.3
58.5
48.2
56.5
46.0
54.7
44.1
52.7
42.0
50.4
39.7
49.9
39.3
'50.0
'39.4
49.8
39.4
27.0
5.3
15.5
27.7
5.3
16.1
28 0
59
15 7
28.9
6.3
16.1
28.6
6.7
15.8
27.2
6.3
15.1
28.0
6.6
15.6
28.9
6.7
16.1
28.8
7.1
15.7
29.4
6.9
16.3
30.7
8.0
16.6
'30.0
7.5
'16.3
31.1
7.5
17.2
3.6
4.0
39
4.1
4.3
4.3
4.5
3.9
4.1
4.3
do
32.6
32.3
31 0
31.5
31.1
33.2
33.5
32.9
33.8
34.4
35.7
'36.1
36.6
do
do
do
-do
do
13.7
.9
.6
1.2
9.9
13.4
.9
.5
1.3
9.6
12 1
9
6
12
10 1
12.1
1.0
.7
1.3
10.8
11.6
1.0
.5
1.0
10.4
12.5
.8
.6
1.0
11.2
13.6
1.4
.6
1.0
10.8
13.2
1.0
.7
1.0
11.7
13.5
.8
.7
1.1
11.3
12.7
.9
.7
1.3
12.0
14.6
.9
.8
1.4
11.8
'14.5
'.8
.9
1.4
'11.0
.8
1.5
8,929
4.0
CONSTRUCTION CONTRACTS
Construction contracts in 50 States (F. W. Dodge
Division, McGraw-Hill):
Valuation total
mil. $
Index (mo data seas adj )
r
8, 793
9,428
9 910
9,228
10, 303
8,151
8,983
7,905
6,133
5,954
6,610
7,911
177
173
183
175
199
182
191
194
161
155
187
181
179
26, 994
24 009
67, 016 ' 23, 955
2,073
6,720
2 359
7,069
2 995
6,916
2,581
6,647
2,968
7,335
2,328
5,822
2,055
6,928
2,140
5,765
1,855
4,277
2,135
3,819
2,212
4,398
2,481
5,430
2,336
6,593
do
do
do
r
27, 055 32, 151
45 020 fT 46,423
22 536
18 986
2,648
4,489
1 656
2,629
4,754
2 045
2,976
4 612
2 323
2,991
4,224
2,013
3,241
4,233
2,828
2,719
3,638
1,794
2,758
3,673
2,552
2,655
3,299
1,951
2,210
2,341
1,581
2,307
2,231
1,415
2,260
2,678
1,672
2,752
3,374
1,785
2,842
3,924
2,163
do
68,001
86, 743
5,710
6,660
3,996
5,070
8,373
7,416
8,518
10, 669
10,618
10,692
7,321
9,472
8,698
205.4
154 5
205.0
120.5
234.2
171.7
234.0
131.6
203.4
147 5
202.6
114.8
203.2
141.9
202.6
114.7
199.9
147.2
197.2
106.8
148.9
104.1
148.4
84.5
149.5
101.5
147.1
86.0
134.6
92.3
133.3
70.5
90.6
69.1
90.4
46.8
86.2
63.9
84.5
43.3
109.6
78.7
109.4
57.6
' 127. 2 '161.0
114.6
'92.6
' 124. 8 ' 159. 6
76.9 ' 102. 3
2,153
1,231
2,330
1,243
2,152
1,140
2,152
1,232
2,030
1,108
1,844
990
1,674
957
1,675
938
1,403
767
1,464
793
1, 922
1,056
'1,499
'962
'1,631
'996
1,450
929
1,055
671
mil. $
do._ .
101,108
1
1
1967 ~ 100
Public ownership
Private ownership
By type of building:
Nonresidential
Residential
N on -building construction
New construction planning
(Engineering News-Record) O
r
181
91 062
165
r
7,609
HOUSING STARTS AND PERMITS
New housing units started:
Unadjusted:
Total (private and public)
Inside SMSA's
Privately owned
One-family structures
.
.
thous
do
do
do..
2
1
2
1
378.5 2,057 5
732 7 1 501 7
3566 2 045 3
309.2 1 132 0
Seasonally adjusted at annual rates:
Total privately owned
do
One-family structures
... .. do
New private housing units authorized by building
permits (14,000 permit-issuing places) :
Monthly data are seas. adj. at annual rates:
Total
thous
One-family structures
do
Manufacturers' shipments of mobile homes:
Unadjusted
_
_
Seasonally adjusted at annual rates
do
do
2,219
1 033
1,796
870
1,939
945
1,838
954
2,030
934
1,780
904
1,750
805
1,596
778
1,316
654
1,314
647
1,237
606
1,301
638
1,333
729
1,461
784
' 1, 300
'734
575.9
r 566. 9
'60.2
r
639
' 56. 0 '56.0
r
'628
600
'49.2
r
564
'52.5 '43.8
' 543 ' 479
'45.0
'39.0
r 27. 9
28.8
30.0
36.9
42.1
'163
164
jqr
CONSTRUCTION COST INDEXES
Dept of Commerce composite
1967= 100
139
152
149
150
151
153
155
156
156
157
158
r 160
'162
American Appraisal Co., The:
Average 30 cities
Atlanta
1913—100
do
do
do
1 369
1 563
1 436
1 285
1 286
1 515
1*749
1 590
1 469
1 434
1 512
1 752
1 584
1 437
1 430
1 517
1 752
1 581
1 440
1 441
522
753
582
497
441
1 523
1,752
1 580
1 499
1,471
1,539
1,762
1,591
1,522
1,464
1,547
1,757
1,659
1,518
1,461
1,547
1,756
1,659
1,517
1,461
1,542
1,732
1,653
1,508
1,457
1,544
1,773
1,651
1,504
1,461
1,543
1,770
1, 649
1,503
1,461
1,557
1,800
1,660
1,515
1,477
1967 — 100
. do. _ do ...
145 4
144.8
145.8
154 0
154.4
159. 2
San Francisco
St Louis
Boeckh Indexes:
Average, 20 cities:
Apartments hotels office buildings
Commercial and factory buildings
Residences
r
153 7
155.1
160.1
Revised.
* Preliminary.
1 Computed from cumulative valuation total.
OData for May, Aug., and Nov. 1973 and Jan. and May 1974 arc for 5 weeks; other months,
4 weeks.
158.9
157.8
157.8
154 5
159.3
157.7
157.7
155.3
164.4
165.7
163.9
160.7
9 Includes data for items not shown separately.
162.5
163.0
167.4
147.9
147.0
96.1
SURVEY OF CURRENT BUSINESS
June 1974
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown
In the 1973 edition of BUSINESS STATISTICS
1972
1973
| 1973
Annual
S-ll
Apr.
May
June
July
1974
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
171.4
180.5
171.0
180.6
170.8
180.6
171.0
182.9
174.2 i 174.2
182.6 * 182. 6
May
CONSTRUCTION AND REAL ESTATE—Continued
CONSTRUCTION COST INDEXES— Con.
Engineering News-Record:
Building
1967 = 100..
Construction
do
Federal Highway Adm.—Highway construction:
Composite (avg. for year or qtr.)
1967=100...
171.2
180.0
171.0
180.1
155.2
163.0
168.4
176.5
138.2
152.4
189.7
194.1
198.7
195 0
214.3
197.5
209.3
195 1
197.1
206.7
216 1
198 0
191.1
186.9
206.3
186 0
179.1
187 0
160.4 •• 163. 0
183.5 r 172 9
161.5
184 0
175.0
193 9
219.4
193.1
194 6
235.4
192.4
202 8
217.1
208.2
210 1
277.9
209.4
197 0
282.7
200.3
180 8
285.0
204 1
192.2
187 0
259.4
213.7
206 4
30LO
185.2
185 7
230.6
168.8 '172.8
166 1 r 177 2
132.6
158.5
162.2
175 6
147.3
195 1
190.' 5
225.2
83.2
209 2
161 9
6.3
71
15 9
168
8.4
91
15 1
166
9.1
99
14 9
166
7.4
92
12 4
136
141
7.6
94
10 6
137
3.6
51
12 3
142
5.2
56
10 7
134
2.1
30
73
124
3.3
46
89
124
4.8
62
11 5
163
4.2
r
71
12 6
144
9.3
71
14 9
150
8.3
89
14 3
157
374. 25
618. 02
385. 90
655. 67
381.62
650. 60
393. 06
665. 86
295. 11
560. 30
266. 34
561.04
358. 37
647.95
357. 15
720. 58
224. 72
470. 36
315.12
648. 20
259. 94
517. 37
252. 99
533. 48
303. 86
416. 26
334. 10
716.12
9,429
10, 156
11,142
12,365
13,511
14, 298
14, 799
14, 866
15, 147
15, 188
14, 904
14, 995
16,020
16, 803
4,989
5,477
5,738
5,059
4,791
3,177
2,788
2,381
2,529
2,346
2,697
r
3,648
4,490
389
1 298
659
456
1 459
*782
r 625
r \ 967
793
2 421
1*276
168.0
174.4
168.9
175.0
168.5
176.6
168.3
177.0
169.3
178.8
170.2
179.6
155.1
145.9
187.4
167.8
CONSTRUCTION MATERIALS
Output Index:
Composite, unadjusted 9
Seasonally adjusted..
1947-49=100..
do
Iron and steel products, unadjusted
Lumber and wood products, unadj
Portland cement, unadjusted
do
do
...do
9ftQ 7
319 3
REAL ESTATE^
Mortgage applications for new home construction:
FHA net applications
...thous. units..
Seasonally adjusted annual rates.
...do
Requests for V A appraisals
do
Seasonally adjusted annual rates
...do
Home mortgages Insured or guaranteed by—
Fed. Hous. Adm.: Face amount
mil. $.. 8, 067. 06 4,473.30
Vet. Adm.: Faceamount§
do
8,419.86 7, 467. 53
Federal Home Loan Banks, outstanding advances
to member institutions, end of period
mil. $..
7,979
15, 147
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
61,408
49,511
8 553
26 615
16 240
8 441
289 974
I 796
886
2 762
1 341
931
3 141
1 405
Foreclosures.
number. . 132 335
135 890
11 718
12 719
Fire losses (on bldgs., contents, etc.)
...mil. $..
2,639
229
224
2,304
6.6
69
•jo
c
851
3 079
1 129
801
3 059
1 111
572
1 838
767
532
1 548
708
449
1 366
566
425
1 338
766
11 509
11 070
11 239
10 014
11 431
11 017
10 668
11 705
10 419
11 412
223
218
221
222
200
211
242
263
236
278
230
284
343
189
163
230
305
343
190
146
232
296
350
189
158
238
303
379
197
149
256
317
455
193
163
77 2
3 7
6 0
13
10 6
53
117 1
6 2
79
2 7
11 2
6 8
7
9
5
8
2
7
140 1
51
12 5
17
12 8
9.7
115 7
36
7 3
10
12 3
7 9
80 1
9 3
53
9
8 5
4 1
98 0
2.8
8.6
1.4
10 9
8.4
112 1
4 9
11.1
2 0
11 5
7.1
84
8 1
6 4
6 7
4 2
17
9 2
54 1
10 7
9 4
4 4
2 2
11 1
59 9
11 0
9 2
35
2 1
11 2
61 3
37
1 1
3
3
2
1
39 7
5.1
3.4
2 2
1.3
10 2
43.6
6 8
6 5
2 6
11
10 9
47 5
8
2
8
7
4
8
316 9
88
88 6
9 5
41 6
168 3
331 6
7 9
85 7
12 7
46 1
179 9
349
8
80
10
45
203
3
0
1
6
3
3
282 9
80
75 7
13 1
36 8
149 3
277 5
7 6
74.9
80
37.6
149 4
336 7
11 0
89 8
10 4
45 9
170 6
29 849
13 739
16 110
34 067
15 463
18 604
33 895
14 971
18 924
32 834
13 894
18 940
33 694
14 682
19 012
32 730 r 37 586
14 103 r iQ 628
18 697 r 20*958
37 996
17 731
20 265
34 728
20 168
35 667
20 278
36 796
20 657
37 292
20 954
38 379
21 158
17 991
38 854 r 39 764
21 615 r 22 441
17 93Q r 17 323
39 753
22, 987
903
3 469
1 366
1 056
235
DOMESTIC TRADE
ADVERTISING
McCann-Erickson national
seasonally adjusted:
Combined index
Television (network)
Spot TV
Magazines
Newspapers
advertising index,
.1957-59=100
do
do
do
do
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
Beer, wine, liquors
_.
do
Household equip., supplies, furnishings.. do
Industrial materials. .
do
Soaps, cleansers, etc.
do
Smoking materials
do
Allother
do
262
341
186
153
219
233
291
372
188
154
233
300
365
184
155
232
287
380
191
146
1 210 6
44 2
102.1
21 0
145 0
113.6
1 309 2
46 1
118 9
25 5
140 5
95 7
126 7
5.7
13.6
3.4
11 6
9.5
126 7
35
13 3
35
13 0
8.3
86 9
77 3
36 6
18 6
110 1
552 9
6
9
2
2
9
52
9
5
7
0
3
5
3 496 5
98 0
881 2
114 5
478 0
1 924 8
3 786 1
99 8
1 024 2
138 9
479 2
2 044 1
340
9
92
15
46
176
7
7
2
2
9
8
Merchant wholesalers sales (unadj.), total mil. $
Durable goods establishments
do
Nondurable goods establishments
do
298 199
138 446
159 753
364 858
167 713
197 145
28859
Merchant wholesalers inventories, book value,
end of year or month (unadj.), total. . mil $
Durable goods establishments
do
Nondurable goods establishments.
do
31 895
18, 672
13. 223
37 292
20 954
Newspaper advertising expenditures (64 cities) : ©
Total
mil. $
Automotive
.
do
Classified
. do
Financial
do
General
. .
do
Retail
do
81 0
72 9
29 4
20 5
94 6
486 2
8
9
3
2
0
4
9
o
87
53 1
231
277
384
192
149
109
9
11
2
12
9
8
o
0
5
6
3
7 4
7 3
3 4
13
8 6
44 4
233
282
344
187
176
01
O
15
7 8
1 9
8 4
5 &
39
2
0
On £
9
5
6
i
31 0
30°
9
91
8
29
163
5
7
2
4
5
8
316 3
88
90 9
11 6
40 8
164 9
13 841
15018
31 239
14 828
16 404
30 104
14 567
15 537
15 819
32 391
14 958
17 433
33 614
19 714
33 820
20 062
33 921
20 329
34 295
20 390
34 317
20 188
338
9
91
10
44
182
OQO
Q
01 8
on A
i *\n n
141
5
13
2
13
8
1
6
7
3
8
8
14 8
53
3 2
9
12 0
47 6
322
5
68
9
36
903
2
2
138
138
2 144
2
133
2
137
9 9
2 1
15
9 7
125
6
9
3
12
9
5
8
4
5
s!o
9 6
8 8
2 98
2
11 5
50 9
WHOLESALE TRADE
laonn 13 758 is KQO
' Revised.
»Index as of June 1,1974: Building, 177.5; construction, 185.6.
2 Beginning
Jan. 1974 data reflect new reference base, 1967=100. Comparable data for Jan. 1973 are as follows (1967=100): Combined index, 133; network television, 130; spot TV, 156; magazines, 116:
newspapers, 128.
9 Includes data for items not shown separately.
§Data include
Ifi 338
29 892
1 4. 073
1°, oftA
U 19Q
1 d 5fin
15 38Q
16.13Q
1fi 338
16.766
guaranteed direct loans sold.
IfHome mortgage rates (conventional 1st mortgages) are
under money and interest rates on p. S-18.
©Source: Media Records, Inc. 64-City Newspaper Advertising Trend Chart.
SURVEY OF CUERENT BUSINESS
S-12
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown
in the 1973 edition of BUSINESS STATISTICS
1973
1973
1972
June 1974
Annual
Apr.
May
June
July
Aug.
1974
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
'42,709
DOMESTIC TRADE—Continued
RETAIL TRADE
All retail stores: 5
Estimated sale* (unadj ) total
__ mil. $ - 448,379
503, 317
40,686
43, 178
43, 586
41, 665
43, 135
40,916
43, 721
44, 552
49, 824
37, 923
36, 668
'43,872
46,511
14,535
8,989
8,347
642
15, 465
9,428
8,744
684
15,410
9,242
8,522
720
14,518
8,707
8,016
691
14,654
8,519
7,809
710
13,718
7,843
7,188
656
15,171
8,982
8,258
724
14, 104
8,083
7,342
741
13,409
6,378
5,619
759
11, 477
6,470
5,917
553
11, 293 '13,603 '14,322
6,391 ' 7, 798 '8,223
5,867 * 7, 158
7,509
'640
714
524
15,319
8,706
do
do
do
do
149, 659
88, 612
81, 521
7,091
170, 275
100, 661
92, 768
7,895
Furniture and appliance group 9
do
Furniture, homefurnishings stores — do
Household appliance, TV, radio
do
21, 315
12, 550
7,029
24, 030
14, 290
7,904
1,856
1,137
578
1,953
1,214
602
2,032
1,228
670
1,940
1,179
634
2,047
1,229
680
1,972
1,142
678
2,049
1,238
660
2,159
1,293
699
2,552
1,370
935
1,928
1,123
654
1,803 '2,077
1,076 '1,267
'642
588
' 2, 026
1,264
602
Lumber, building, hardware group
do
Lumber, bldg. materials dealerscf — do
Hardware stores
do __
20,064
15, 973
4,091
22, 766
18, 049
4,717
1,861
1,487
374
2,098
1,656
442
2,185
1,704
481
2,080
1,668
412
2,180
1,770
410
1,937
1,536
401
2,068
1,645
423
1,912
1,497
415
1,771
1,283
488
1,453
1,150
303
1,496 ' 1,781
1,178 '1,410
'371
318
1,989
1,576
413
298, 720
21, 993
6,198
8,386
3,774
333, 042
24,062
5,609
9,119
4,229
26, 151
2,007
440
743
408
27, 713
1,908
448
738
324
28, 176
1,975
472
756
345
27, 147
1,740
397
677
299
28, 481
1,931
411
698
378
27, 198
1,974
412
747
401
28, 550
2,030
448
783
365
30, 448
2,214
523
842
361
36, 415
3,386
896
1,243
476
26, 446
1,700
409
636
292
14, 623
33,891
95, 020
88,340
31,044
15, 474
37, 925
105, 731
98, 392
34, 432
1,219
2,950
8,171
7,679
2,808
1,281
3,238
8,745
8,139
2,947
1,300
3,353
9,135
8,512
3,008
1,240
3,359
8,976
8,345
3,088
1,303
3,556
9,344
8,687
3,023
1,226
3,339
8,859
8,242
2,837
1,300
3,341
8,929
8,302
2,981
1,286
3,204
9,207
8,596
2 996
1,741
3,272
9,932
9,214
2,908
1,267
2,995
9,145
8,528
2,793
74, 903
83, 301
6,467
6,713
6,771
6,269
6,915
6,594
7,172
8,543
11,618
Durable goods stores 9
Automotive group
-Passenger car, other auto, dealers
Tire battery accessory dealers
Nondurable goods stores 9
Apparel group
-
\V omen'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 _
General merchandise group with nonstores9
- mil. $..
General merchandise group without nonstores9§
.mil. $__
Department stores
do —
Mail order houses (dept. store mdse).do
Llouor stores
Estimated sales (seas, adj ), total
Durable goods stores 9
Automotive group __
Passenger car, other auto, dealers
Tire, battery, accessory dealers
25, 375 '29,106 '29,550
1,518 '1,848 ' 2, 121
'399
462
344
'703
788
589
'323
393
253
31,192
2,039
1,255
2,854
8,750
8,142
2,692
'1,329
' 3, 238
'9,734
'9,072
'3,088
i 1,375
i 3, 626
U0,053
i 9,376
3,393
5,511
5,315
'6,735 ' 7, 166
1
6, 838
4,817 ' 6, 174 '6,617
3,167 ' 4, 132 ' 4, 478 i 4, 640
'479
476
381
'637
710
517
'775
778
697
'1,333
' 3, 272
'9,267
' 8, 600
' 3, 190
6,284
4,308
••363
669
825
5,799
3,910
401
603
826
6,391
4,286
453
677
819
6,072
4,142
414
630
759
6,555
4,396
556
665
784
7,886
5,297
714
790
823
11,063
7,734
574
1,326
1,160
5,037
3,369
341
519
740
_ do
41,185
41, 723
41, 167
42,767
42, 355
42, 529
42, 970
42,976
42, 116
42, 932
43, 134
'43,958
144,383
--do
do
do
do
14,339
8,555
7,927
628
14, 299
8,503
7,870
633
13, 731
7,943
7,328
615
14,409
8,654
7,992
662
14, 481
8,645
7,968
677
14,267
8,457
7,771
686
14, 331
8,482
7,769
713
14,090
8,183
7,492
691
13, 270
7,400
6,681
719
13, 525
7,474
6,786
688
13, 327 '13,660 '13,818
7,599
7,236 '7,403
6,921
6,548 ' 6, 721
678
'682
688
114,126
do
1,995
1,203
635
2,006
1,181
675
2,000
1,217
637
2,025
1,189
685
2,063
1,214
686
2,005
1,195
661
2,046
1,204
672
1,975
1,165
668
2,058
1,211
672
2, 032 '2,191
1,231 ' 1,316
'703
679
2,152
1,303
672
1,961 '2,028
1,518 '1,572
'456
443
1,993
1,578
415
do
'43,872
Household appliance, TV, radio
do
do
do
do
1,896
1,508
388
1,939
1,546
393
1,946
1,520
426
1,894
1,515
379
1,894
1,503
391
1,836
1,428
408
1,867
1,460
407
1,890
1,484
406
1,835
1,450
385
1,858
1,447
411
Nondurable goods stores 9
do
Apparel group
do
Men's and boys' wear stores
do
Women's apparel, accessory stores.. .do
Shoe stores
..do
26,846
1,878
444
706
339
27,424
1,962
456
753
335
27,436
1,997
463
780
338
28,358
2,028
469
788
349
27,874
1,967
450
730
352
28,262
2,042
462
764
371
28,639
2,019
462
751
371
28,886
2,006
463
761
339
28,846
2,051
480
776
346
29, 407
2,053
456
785
357
1,280
3,060
8,616
8,012
2,868
1,291
3,096
8,665
8,074
2,884
1,314
3,085
8,598
8,000
2,843
1,305
3,122
9,128
8,507
2,908
1,298
3,158
8,964
8,345
2,836
1,278
3,261
8,992
8,376
2,880
1,332
3,308
9,194
8,568
2,951
1,322
3,331
9,135
8,511
2,966
1,297
3,387
9,264
8,603
2,902
1,323
3,331
9,551
8,874
2,952
1,370
3,326
9,634
8,957
3,059
'1,376
'3,318
'9,594
'8,912
' 3, 154
1,377
3,412
9,605
8,930
3,245
6,696
6,917
6,939
7,051
6,923
6,989
6,995
7,213
7,002
7,234
7,237
' 7, 543
7,437
6,166
4,189
••438
635
783
6,386
4,346
'443
667
799
6,430
4,352
'442
686
807
6,538
4,423
486
684
817
6,402
4,351
442
682
810
6,486
4,406
468
689
807
6,461
4,357
482
696
811
6,661
4,485
473
726
793
6,464
4,445
403
690
839
6,666
4,456
470
738
820
6,677 '6,992
4,486 '4,701
'498
485
'753
707
'829
824
6,865
4,665
494
715
842
Grocery stores
G asoline service stations
7,413
6,194
4,229
••409
648
789
Lumber, building, hardware group
Lumber bldg materials dealers o"
Hardware stores
Drug and proprietary stores
Eatingand drinking places.
1
5,975
77, 036
52, 292
4,055
' 5, 384 ••412
8,212
645
9,602
718
68, 936
46, 560
4,722
7,498
9,215
2,024
1,208
658
Furniture and appliance group 9
2,181
do...
-do..do__.
do...
General merchandise group with nonstores 9
mil $
General merchandise group without nonstores 9 §
mil. $.
Department stores
do...
Mall order houses (dept. store mdse.)-.do...
Variety stores..
do...
Liquor stores
do._.
Estimated inventories, end of year or month: J
Book value (unadjusted) total 1
mil $
Durable goods stores 9'
do._.
Automotive group
do
Furniture and appliance group.
do .
Lumber, building, hardware group, .do
29, 807 '30,212 '30,140 130,257
2,003
2,074 ' 2, 149
479
476
'501
749
781
'800
334
354
'361
54, 918
25, 268
11,826
4,336
3,647
61,643
27, 899
13, 847
4,690
4,024
59,716
27, 647
13, 649
4,551
4,017
60,139
28, 042
13, 882
4,639
4,073
60,395
28, 291
14, 190
4,625
4,044
60,008
27, 916
13, 989
4,582
4,050
58,909
25,843
11,854
4,615
3,981
60,148
26,308
12, 198
4,662
3,963
62,559
26, 991
12, 657
4,800
3,990
64,951
28, 099
13, 490
4,900
3,969
61,643
27, 899
13, 847
4,690
4,024
61, 820
28, 217
14, 150
4,658
4,142
63, 364
28, 994
14, 640
4,687
4,290
65, 538
29, 631
14, 738
4,810
4,434
66, 183
29,771
14, 607
4, 918
4,503
Nondurable goods stores 9.
do. _
Apparel group
do...
Food group
..do...
General merchandise group with nonstores
mil. $.
Department stores
do.__
29, 650
4,614
5,858
33,744
5,012
6,697
32, 069
4,947
6,010
32, 097
4,879
6,019
32, 104
4,863
6,139
32, 092
4,883
6,049
33, 066
5,125
6,156
33, 840
5,271
6,308
35, 568
5,512
6,526
36, 852
5,678
6,749
33, 744
5,012
6,697
33, 603
4,771
6,588
34, 370
4,892
6,674
35, 907
5,172
6,998
36,412
5,142
6,937
12,115
7,265
14,548
8,379
13, 877
8,219
13, 937
8,217
13, 936
8,124
14, 097
8,247
14, 569
8,590
14,932
8,708
16, 073
9,368
16, 447
9,476
14,548
8,379
14, 869
8,577
15, 278
8, 812
16, 123
9, 395
16,631
9,753
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...
56, 551
26, 034
12,306
4,407
3,756
63, 561
28, 778
14,433
4,765
4,144
58,378
26,356
12,601
4,489
3,889
59,012
26, 661
12,731
4,585
3,936
59,788
27,051
13,041
4,613
3,974
60,213
27, 494
13,476
4,612
4,030
60,677
27, 563
13, 470
4,641
4,047
60,847
27, 507
13, 336
4,643
4,036
61,681
27, 926
13,627
4,723
4,047
62,937
28, 662
14, 302
4,727
4,041
63,561
28, 778
14, 433
4,765
4,144
64, 261
28, 852
14, 470
4,831
4,218
64, 394
28, 789
14, 297
4,787
4,288
64, 743
28, 578
13, 805
4,823
4,341
64, 748
28, 388
13,488
4,851
4,361
165 36,360
Nondurable goods stores 9
do
30, 517
34,783 32,022 32, 351 32,737 32, 719 33,114 33, 340 33, 755 34, 275 34, 783 35, 409 35, 605 36,
5,132
5,199
5,118
5,187
5,244
5,170
5,099
Apparel group
do__.
5,008
5,021
4,826
5,033
5,035
5,244
4,970
4,938
6,927
7,016
6,805
6,705
6,618
Food group
do
6,478
6,389
6,379
5,789
6,092
6,250
6,029
6,167
6,618
6,002
General merchandise group with non16,
654
16,
313
16,
121
stores
-.
mil. $
12,930
15, 532 13, 899 14,043 14, 258 14, 369 14, 528 14, 590 14, 937 14, 925 15, 532 16,103
9,768
9,480
9,370
9,288
8,943
8,567
8,614
8,708
Department stores
do...
8,482
8,623
7,754
8,262
8,368
8,943
8,233
r
benchmark data from the 1972 Annual Retail Trade Report and new seas, factors; revisions
Revised.
1 Advance estimate.
9 Includes data not shown separately.
d* Comfor Jan.-Dec. 1972 appear on p. 7 of the Mar. 1974 SURVEY.
prises lumber yards, building materials dealers, and paint, plumbing, and electrical stores.
§ Except department stores mail order.
J Series revised beginning Jan. 1972 to reflect
SURVEY OF CURRENT BUSINESS
June 1974
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown
in the 1973 edition of BUSINESS STATISTICS
1972
1973
| 1973 v
Annual
S-13
Apr.
May
June
July
Aug.
1974
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
Mayp
DOMESTIC TRADE—Continued
RETAIL TRADE— Continued
Firms with 11 or more stores:
Estimated sales (unadj.), total 9
mil. $
Apparel group 9
Men's and boys' wear stores
Women's apparel accessory stores
Sh oe stores
Drug and proprietary stores
Eating and drinking places
Furniture and appliance group
do
do
do
do
do
do
do
137, 650
154 546
12 119
12653
12945
12 214
13 008
12 447
13 181
14,653
18,305
11,656
11,245
13 414
13 626
6,065
782
2 194
1,694
5, 246
2,887
1,902
6 569
749
2 393
1 908
5,857
3,193
2,085
610
64
215
191
445
263
167
524
63
200
144
479
277
159
544
66
200
162
498
286
178
451
45
172
139
471
286
166
529
49
186
168
494
305
169
555
54
192
185
465
279
174
545
63
193
157
493
265
169
591
77
213
156
494
265
176
912
119
336
224
751
254
235
413
47
146
123
469
231
190
366
40
133
106
461
220
162
r 486
r 180
577
68
205
174
510
257
173
r
55
r 179
r
r
138
514
258
General merchandise group with nonstores 9
mil $
General merchandise group without nonstores§
mil $
Dept. stores, excl. mail order sales
do
Variety stores
_ _ _ _ _
d o
58, 113
65, 569
6 076
5 268
5 322
4,930
5 426
5 158
5 634
6,749
9,335
4,254
4,135
r
5 312
5 686
55, 100
41, 053
5,933
62, 471
46, 380
6,627
4 836
3* 601
518
5 005
3 745
518
5 077
3 831
543
4 696
3,482
487
5 172
3,819
542
4 907
3 670
509
5 313
3 900
542
6,422
4,678
652
9 068
6,823
1,086
4,035
2,993
409
3,878
2,813
411
r 5 030
r
512
5 414
3 989
577
Grocery stores _ _ _ _ _
Tire, battery, accessory dealers
49, 206
2,094
55, 165
2,210
4 235
192
4 524
189
4,723
202
4,686
197
4,762
200
4 547
176
4,665
204
4,933
193
5,196
202
4,835
142
4,652
137
r 5 242
170
4 891
192
do
12 524
12 730
12 634
13 161
12 812
13 024
13 332
13332
13 222
13,716
13 762
14 036
13 989
do
do
do
do
do
do
548
63
202
157
483
258
538
64
208
148
480
262
544
62
204
157
507
263
554
59
210
173
495
255
522
57
185
154
487
274
556
60
198
165
499
282
538
63
182
162
511
280
530
65
190
145
503
289
535
61
187
154
500
257
555
56
211
164
519
256
552
64
198
156
534
259
r 549
r 68
r 202
151
r
543
r 255
532
66
196
147
540
959
5 252
5 426
5 450
5 490
6 454
5 471
5 573
5,674
5 511
5,678
5 726
5 935
5 940
5 196
3,846
553
5 234
3 875
561
5 309
3,939
566
5 405
3,998
600
5 265
3 942
545
5,391
3,969
588
5 425 r 5 §68
3 996 r 4 170
570
r6oo
5 648
4 186
579
4 712
190
4,870
204
4,743
181
4 829
172
5,073
183
5 057
188
do
do
Estimated sales (seas. adj.)» total 9
Apparel group 9
Men's and boys' wear stores
Women's apparel accessory stores
Shoe stores
Drug and proprietary stores
Eating and drinking places
General merchandise group with
nonstores 9
mil $
General merchandise group without nonstores §
mil $
Dept. stores, excl. mail order sales
do
Variety stores
.
do
4 991
3* 720
*518
5 158
3 841
533
5 198
3 850
560
5 236
3,865
558
Grocery stores
Tire, battery, accessory dealers
4 525
184
4 533
174
4 406
172
4,848
191
4,592
189
do
do
All retail stores, accts. receivable, end of yr. or mo.:
Total (unadjusted)
mil $
Durable goods stores
do
Nondurable goods stores. _ .
do
Charge accounts
do
Installment accounts
__
do
Total (seasonally adjusted). __
Durable goods stores
Nondurable goods stores
Charge accounts
Installment accounts.
do
do
do
do
do
3 686
r
r
r
r
5 065
180
5 053
182
25, 068
8,115
16, 953
10, 090
14, 978
27, 038
8,520
18, 518
10, 445
16, 593
23 957
8 065
15 §92
9 705
14 252
547
367
180
195
352
24 712
8 541
16 171
10 205
14 507
24 353
8 452
15 901
9 823
14 530
24,582
8,592
15,990
9 948
14,634
24
8
16
10
14
762
601
161
047
715
25, 272
8,674
16, 598
10, 260
15,012
25 752
8 446
17 306
10 337
15 415
27
8
18
10
16
038
520
518
445
593
25 994
8,138
17, 856
10 012
15,982
25 709 r 25 637
8 023 r g 212
17, 636 r 17 425
9 958 r 10 147
15 751 r 15 490
26
8
17
10
15
23, 518
7,940
15, 578
9,671
13 847
25, 375
8,351
17, 024
9 991
15 384
24 232 24 665
8 276
8 467
is' 956 16 198
9 785 10 040
14 447 14 625
24 790
8 383
16 407
9 995
14 795
24 869
8 394
16 475
9 897
14 972
25,064
8,482
16,582
10 037
15 027
24
8
16
9
14
043
352
591
988
955
25 341
8,397
16, 944
10 090
15 251
25 449
8 345
17 104
10 183
15 266
25
8
17
9
15
375
351
024
991
384
25 534
8,351
17,183
10 223
15 311
26 015 r 26 071
8,417 r 8 535
17, 598 r 17,536
10 405 r 10 468
15 610 r 15 603
26 471
8 636
17, 835
10 755
15 716
24
8
16
10
14
122
409
713
604
518
LABOR FORCE, EMPLOYMENT, AND EARNINGS
POPULATION OF THE UNITED STATES
Total, incl. armed forces overseas!:
mil.. i 208. 84
1
210. 40
210.01
210.14
210.27
210. 40
210. 54
210.68
210.83
210.97
211.09
211.21
211.33
211. 43
211. 55
211.66
91,040
88 714
84 409
3 452
80 957
4 304
89, 823
87 473
83 299
3 295
80 004
4 174
89, 891
87 557
83 758
3 467
80 291
3 799
92, 729
90 414
85 567
4 053
81 514
4 847
93, 227
90 917
86 367
4 165
82 201
4 550
92, 436
90 129
85 921
3 826
82 095
4 208
91, 298
89 006
84 841
3 436
81 406
4 165
92, 046
89 757
85 994
3 525
82 469
3 763
92, 168
89 884
85 828
3 419
82 409
4 056
91, 983
89 701
85 643
3 202
82* 441
4 058
91,354
89 096
84 088
3 197
80 891
5 008
91,692
89 434
84, 294
3 283
81,011
5 140
91, 884
89, 633
84, 878
3,334
81,544
4,755
91,736
89, 493
85, 192
3,437
81,756
4,301
92, 158
89, 929
85, 785
3,604
82, 181
4,144
88 272
83 854
3 356
80,498
88 263
83 950
3 320
80,630
88 818
84 518
3 430
81,088
88 828
84 621
3 512
81,109
88 704
84 513
3 425
81,088
89 373
85 133
3 376
81,757
89 749
85 649
3 455
82,194
89 903
85 649
3 561
82,088
90033
85669
3 643
82,026
90,543
85 811
3 794
82,017
90, 556
85,803
3 852
81,951
90, 496
85, 863
3,699
82, 164
90, 313
85, 775
3,511
82, 264
90, 679
85,971
3,457
82, 514
LABOR FORCE d"
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
Hates (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, wife present
.
Occupation: White-collar workers
Blue-collar workers .
Industry of last job (n on agricultural):
Private wage and salary workers
Construction.
Manufacturing . _
Durable goods
r
88, 991
86 542
81 702
3 472
78 230
4 840
1,158
812
4 418
787
4 313
818
4 300
789
4 207
755
4 191
111
4 240
768
4 100
756
4 254
820
4 364
740
4732
• 768
4,753
830
4,633
815
4,538
857
4,708
877
5 6
4 0
5 4
16.2
4 9
32
4 8
14.5
5 0
3 4
4 8
15.2
4 9
3 4
4 6
15.1
4 8
3 2
4 9
14.0
4 7
31
4 8
14.4
4 7
31
4 g
14.3
4 7
3 0
4 8
14.3
4 6
3 0
4 4
14.0
4 7
3 0
4 7
14.5
4.8
30
5 o
14.4
5.2
3.4
5 2
15.6
5.2
3.5
5.1
15.3
5.1
3.4
5.0
15.0
5.0
3.6
4.9
13.8
5.2
3.4
5.1
15.8
5 0
10 0
2.8
4 3
89
2 3
4 5
9 2
2 4
4 4
9 2
2 3
4 3
8 8
9 3
4 1
9 2
2 1
4 2
88
2 1
4 2
9 °
2 l
4 1
84
2 1
4 2
89
2. 1
4 4
8.6
9
2
4 7
9.4
2.3
4.7
9.2
2.4
4.6
9.4
2.4
4.5
8.7
2.5
4.7
9.5
2. 2
3.4
6.5
2 9
53
31
5 4
2 9
5 3
2 9
5 3
2 9
5 2
2 9
5 2
2 9
51
2 6
51
2 8
5.4
3.1
5.2
3.2
6.0
3.2
6.1
2.8
6.1
2.8
6.4
3.2
6.0
5.7
10.3
5 6
5.4
4.8
88
4 3
3.9
4 9
9 3
4 4
3.8
4 8
89
4 4
4.0
4 7
8 2
4 4
3.7
Revised.
v Preliminary.
1 As of July 1.
? Inc!u.des data not shown separately.
§ Except department stores mail order,
t Revisions back to 1970 appear in P-25, No. 521, "Population Estimates and Projections,"
Bureau of the Census (May 1974).
5.2
5.1
5.3
5.4
5.0
5.3
4.8
4.7
4.7
4.5
4 7
9. 6
10.3
8.4
7.9
8.2
9.1
9.1
9 0
8 5
9 6
9 4
4.7
5.0
5.2
5.3
4.3
5. 1
4 3
4 2
4 0
39
38
4.5
5.0
5.0
5.1
3.9
5.0
3.6
3^3
3.6
4.0
3.7
<? Beginning in the Feb. 1974 SURVEY, data reflect new seasonal factors; comparable
monthly data back to 1967 appear in EMPLOYMENT AND EARNINGS (Feb. 1974), USDL,
BLS. Seasonally adjusted data through 1966 as shown in the 1973 BUSINESS STATISTICS, arc
comparable.
SURVEY OF CURRENT BUSINESS
S-14
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown in
the 1973 edition of BUSINESS STATISTICS
1972
1973
1973
Apr.
Annual
June 1974
May
June
July
Aug.
1974
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
Mayp
LABOR FORCE, EMPLOYMENT, AND EARNINGS—Continued
EMPLOYMENT
Employees on payrolls of nonagricultural estab.:
Total, not adjusted for seasonal variation... thous..
Private sector (excl. government)
do
72, 764
59 475
75, 567
61, 910
74,861
61 068
75, 404
61, 589
76, 308
6°, 565
75, 368
62,317
75,686
62,715
76,238
62,819
76,914
63,059
77,322
63,281
77,391
63,290
75,613
61,633
75,792 ••76,117 ' 76,695
61,594 r 61,843 ' 62,405
77, 199
62, 857
72, 764
59* 475
40, 541
23 061
607
3 521
75, 567 75,105
61,910 61,491
42,090 41J64
24, 093 23,906
' 625
*608
3, 571
3, 648
75, 321
61,679
41,897
24, 010
608
3,620
75, 526
61, 867
42,011
24, 139
629
3, 654
75, 478
61, 883
42, 079
24, 115
631
3,680
75,747
62 110
42,249
24 171
634
3,676
75,961
62,305
42,423
24,215
633
3,700
76,363
62,617
42,601
24,349
639
3,694
76,679
62,841
42,746
24,450
644
3,711
76,626
62,739
42,649
24,468
646
3,732
76,526
62,642
42, 636
24, 296
654
3,636
76,813
62,819
42,915
24,317
656
3,757
' 76,804
' 62,761
r 42,910
' 24,231
••655
r
3, 725
77,110
62, 948
43,024
24, 224
660
3,640
18 933
10 884
188
612
493
660
1,235
1,371
1,' 864
1,833
1,747
'456
425
19, 820
11, 633
'l93
632
522
693
1,315
1, 453
2,042
1, 996
1, 856
495
437
19,727
11*,534
'l95
631
520
687
1,288
1,448
2,006
1,970
1,869
481
439
19, 782
11,602
193
629
523
692
1,299
1,456
2,021
1,984
1,877
490
438
19, 856
11,654
192
628
527
693
1,308
1,457
2,040
2,008
1,871
494
436
19, 804
11,646
193
628
522
697
1,308
1,459
2,040
2,009
1,858
494
438
19,861
11*692
192
631
527
694
1,323
1 459
2,065
2,006
1,859
500
436
19,882
11,708
190
631
525
696
1,339
1,456
2,073
2,010
1,850
503
435
20,016
11,802
191
634
528
701
1,353
1,466
2,086
2,039
1,858
507
439
20,095
11,859
186
637
528
701
1,357
1,473
2,121
2,048
1,857
512
439
20,090
11,859
190
645
527
707
1,354
1,470
2,128
2,057
1,827
514
440
20, 006
11,774
192
645
527
704
1,343
1,466
2,133
2,051
1,753
516
444
19,904 '19,851 ' 19,911 19,924
11,683 11,644 ' 11,725 11,717
192
' 192
191
'193
646
'653
'648
647
521
••522
'523
523
699
'698
703
702
1,317
1,331 '1,316 '1,318
1,451
1,454 '1,449 '1,456
2,135
2,134 ' 2, 135
2,123
2,027
2,036
2,033
2,043
1,759
'1,746
1,681
1,706
524
521
'524
521
446
'444
'444
442
8,049
1*751
72
991
1,335
697
1,080
l'o02
'190
627
304
8, 186
l", 736
74
1, 024
1^340
718
1,098
1,030
187
683
297
8, 193
1^746
76
1 023
l', 357
712
1,096
1,021
183
680
299
8,180
1,736
76
1,022
1,351
719
1,095
1,025
182
676
298
8,202
1,729
76
1,024
1,351
719
1,100
1,030
186
687
300
8,158
1,720
76
1,021
1,319
716
1,101
1,034
186
690
295
8,169
1,706
72
1 026
1,337
721
1,100
1,031
189
691
296
8,174
1,719
70
1,025
1,337
719
1,097
1,038
190
683
296
8,214
1,735
72
1,027
1,340
725
1,098
1,043
190
687
297
8,236
1,749
75
1,028
1,333
725
1,102
1,043
190
694
297
8,231
1,753
75
1,030
1,321
724
1,105
1,042
192
693
296
8,232
1,754
76
1,029
1,315
729
1,106
1,046
193
693
291
do
do
doll"
do
do
do
do
do
do
do
49, 704
4*, 495
15, 683
3,918
11, 765
3*,927
12, 309
13*,290
2*650
lo', 640
51, 475
4,611
16, 288
4, 079
12, 209
4*, 053
12, 866
13* 657
2 627
11*031
51,199
4/591
16,217
4,044
12 173
4/031
12 746
13 614
2 *628
10 986
51,311
4,593
16, 256
4,046
12, 210
4,044
12, 776
13, 642
2,641
11,001
51,3S7
4,597
16, 262
4, 072
12, 190
4, 049
12, 820
13, 659
2, 613
11,046
51, 363
4,598
16, 294
4,071
12, 223
4,048
12, 828
13, 595
2,588
11,007
51,576
4,617
16,352
4,099
12 253
4,064
12,906
13,637
2,599
11*.038
51, 746
4,629
16,388
4,111
12,277
4,078
12,995
13,656
2,613
11,043
52,014
4,671
16,465
4,137
12,328
4,088
13,044
13,746
2,626
11,120
52 229
4,654
16,520
4,163
12,357
4,095
13,122
13,838
2,638
11,200
52,158
4,644
16,398
4,152
12,246
4,101
13,128
13,887
2,654
11,233
52, 230
4,684
16,417
4,184
12,233
4,109
13, 136
13,884
2,651
11,233
52,496
4,691
16,472
4,192
12,280
4,124
13,215
13,994
2,670
11,324
Production or nonsupervisory workers on private
nonagric. payrolls, not seas, adjusted
thous..
Manufacturing
do
49, 223
13 838
51,276
14 575
50,554
14 394
51, 025
14, 457
51,899
14, 739
51,616
14, 458
51,976
14,727
52,063
14,841
52,286
14,866
52,483
14,886
52,485
14,799
Production or nonsupervisory workers on private
nonagricultural payrolls t.
thous
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
~....Ao....
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
.."doIII"
49 223
n , one
/uo
459
9 gog
13 838
1 919
94
527
408
527
984
1,049
1, 236
1,238
1 248
' 276
331
51,276
18, 062
476
3,011
14, 575
8*548
99
544
431
554
1 058
1, 121
1,381
1,378
1,334
306
342
50 947 51,090
17 920 17, 996
461
461
2,984
2,938
14 521 14, 551
8,528
8/483
99
' 101
542
544
428
430
555
550
1,044
1,033
1,123
l',118
1,366
1,356
1,370
1,361
1,354
1,351
304
*296
343
343
51,241
18, 111
477
3,020
14,614
8 573
98
542
436
555
1,052
1,126
1,380
1,389
1,348
306
341
51, 247
18,093
479
3,048
14, 566
8,562
99
541
431
557
1,050
1,127
1,379
1,392
1,338
306
342
51,442
18,135
483
3,041
14,611
8,597
97
544
434
554
1,066
1,129
1,399
1,384
1,339
311
340
51, 592
18,155
483
3,063
14,609
8,599
96
544
434
554
1,082
1,123
1,398
1,386
1,332
311
339
51,856
18,257
488
3,049
14,720
8,674
97
546
434
562
1,093
1,131
1,411
1,412
1,331
314
343
52,044
18,322
491
3,057
14,774
8,712
93
548
434
561
1,096
1,137
1,441
1,417
1,324
318
343
Nondurable goods.
do
Food and kindred products
do
Tobacco manufactures
do
Textile mill products
.......... <!Q'.
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, nec_ ..do"""
Leather and leather products
...do
5, 919
l|l80
59
871
1,165
537
657
581
117
489
261
6, 027
1, 172
61
900
1,163
557
662
600
118
538
254
6,038
1,178
63
900
1,182
552
663
593
115
536
256
6,023
1,170
63
900
1,174
557
661
596
115
531
256
6,041
1,165
63
900
1,175
557
664
599
117
544
257
6,004
1,160
64
899
1,140
556
663
605
118
546
253
6,014
1,144
60
902
1,161
561
662
603
120
547
254
6,010
1,157
57
899
1,160
558
661
606
120
538
254
6,046
1,171
59
902
1,161
563
662
610
120
543
255
6,062
1,184
62
903
1,155
562
664
608
120
549
255
32,018
3,883
13, 923
33, 215
3, 967
14, 451
3,411
11,040
3,147
11,650
33,027
3,952
14,404
3,381
11 023
3,139
11,532
33, 094
3,957
14, 435
3,385
11, 050
3,143
11, 559
33,130
3,960
14,421
3,406
11,015
3,144
11,605
Seasonally Adjusted t
Total employees, nonagricultural payrollst-.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. _ d o ~ ~ ~ ~
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
Trans., comm., electric, gas, etc
Wholesale and retail trade
Wholesale trade
Retail trade
Finance, insurance, and real estate
Services
Government
Federal
State and local
' 76,928
' 62,824
' 42,913
' 24,224
'657
'3,656
8,221 ' 8, 207
1,764
1,755
77
76
1,025 '1,019
'1,294
1,309
730
729
1,105
1,109
1,045 ' 1,048
190
192
'686
690
'294
291
'8,186
' 1,750
'78
'1,016
1,297
'730
'1,102
'1,045
'191
'682
'295
8,207
1,754
78
1,012
1,294
733
1,108
1,050
191
691
296
' 52,573
' 4, 676
' 16,487
'4,190
12,297
'4,127
' 13,240
' 14,043
2,675
' 11,368
' 52,704
'4,663
' 16,542
' 4, 201
'12,341
' 4, 135
' 13,260
' 14,104
' 2, 681
'11,423
52, 886
4,667
16,581
4,214
12,367
4,151
13,325
14,162
2, 695
11,467
50, 823
14,513
50,772 ' 50,985 '51,530
14,422 ' 14,405 ' 14,456
51,939
14,481
51,915
18,347
495
3,081
14,771
8,712
96
555
434
568
1,094
1,134
1,447
1,423
1,298
320
343
51,781
18, 157
501
2, 974
14,682
8,624
,96
555
434
565
1,079
1,127
1,448
1,417
1,233
321
349
51,948
18,156
503
3,090
14,563
8,524
96
557
430
565
1,067
1,117
1,435
1,407
1,180
324
346
'51,918
' 18,082
'501
' 2, 996
' 14,585
8,574
'96
559
'430
'560
' 1,054
' 1,117
' 1,446
' 1,403
'1,232
'329
'348
52, 009
18,063
502
2,976
14, 585
8,555
96
553
428
560
1,055
1,112
1,442
1,389
1,243
327
350
6,059
1,191
62
904
1,144
560
666
609
122
547
254
6,058
1,196
63
904
1,137
565
666
611
123
545
248
6,039 ' 6, 027 '6,011
1,196 ' 1,204 ' 1,191
'65
64
63
' 890
899
893
1,118 '1,123
1,131
'564
565
'565
'660
'662
668
' 609
607
'611
120
120
120
'536
542
'538
'253
252
248
6,030
1,199
65
887
1,117
565
664
614
121
545
253
Seasonally Adjusted J
Service-producing .
Transportation, comm., elec., gas, etc
Wholesale and retail trade
Wholesale trade . .
Retail trade
Finance, insurance, and real estate
Services
do
do
do
do
do
do
do
O O7C
10' 645
3,072
11. 140
' Revised.
*> Preliminary.
Revised seasonally adjusted payroll employment, hours, earnings, etc. (back to Jan.
1968) were not incorporated in the 1973 edition of BUSINESS STATISTICS. Revised data for
'51,855
' 18,079
'500
' 3, 063
' 14,516
' 8, 489
'96
'557
'430
565
'1,053
' 1,111
'1,444
' 1,396
'1,164
'325
'348
33, 154 33,307 33,437 33,599 33, 722 33, 568 33, 624 33,792 'r 33,776 ' 33,836 33,940
4,010
4,001
4,016
4,033
3,988
4,002
4,028
4,019
3, 969
3,972
3,952
14,449 14,489 14,527 14,596 14, 657 14,517 14,528 14,599 ' 14,599 14,648 14,676
3,520
'
3,
509
'
3,
506
3,502
3,494
3,468
3,456
3,483
3,432
3,423
3,404
156
11,045 11,066 11,095 11,140 11,174 11, 049 11,034 11,097 ' 11,093 11,139 11,
3, 194
3,174 ' 3, 178 ' 3, 187
3,162
3,169
3,165
3,171
3,153
3,162
3,142
11,611 11,696 11,776 11,819 11, 892 11, 894 11,906 11,986 11,983 12,000 12 066
1968-72 appear in EMPLOYMENT AND EARNINGS (June 1973), USDL, BLS; seasonally adjusted
data for 1947-67 as shown in the 1973 BUSINESS STATISTICS are comparable with the current
data.
SUKVEY OF CUKRENT BUSINESS
June 19T4
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown
in the 1973 edition of BUSINESS STATISTICS
1972
S-15
1974
1973
1973
Annual
Apr.
June
May
Aug.
July
Oct.
Sept.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May i
LABOR FORCE, EMPLOYMENT, AND EARNINGS—Continued
AVERAGE HOURS PER WEEK
Seasonally Adjusted
Avg. weekly hours per worker on private nonagric.
payrolls rtfl Seasonally adjusted
hours..
Not seasonally adjusted
do
Mining
.
do
Contract construction
do
Manufacturing: Not seasonally adjusted
do
Seasonally adjusted
do
Overtime hours
do
37.2
42 5
37 0
40.6
37.1
42 4
07 9
40.7
35
3
0
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
41 3
36
42.2
41 0
40 5
41.9
41.6
41.2
42.0
40.5
41.8
40.5
39.3
41 ^
Nondurable goods . _ . . .
.
Overtime hours
_
Food and kindred products
Tobacco manufactures §.
Textile mill products. .. . . .
Apparel and other textile products
do
do
do
do
do
do .
39.7
3.3
40.4
37.4
41.3
36.0
do
do
do
do
do
do
do
do
do
do
do
do .
Paper and allied products
Printing and publishing _
Chemicals and allied products
Petroleum and coal products
Rubber and plastics products, nee
Leather and leather products
Trans., comm., elec., gas, etc
Wholesale and retail trade
Wholesale trade
Retail trade
Finance, insurance, and real estate.
Services
37 2
36.9
41 7
07 n
40.7
40 9
41
37.2
37.0
42 5
37 5
40.7
40 7
39
37.1
37.4
42 5
37 4
40.9
40.6
38
37.2
37.6
42 4
37 5
40.5
40 7
38
37.0
37.5
42 6
37 1
40.5
40 5
37
41 4
41 1
q Q
37.2
37.3
42 9
36 7
41.0
40 8
38
37.0
37.0
42 5
36 9
40.7
40 6
37
37.1
37.0
42.8
38.5
40.8
40.6
3.8
37.0
37.2
43.3
37.2
41.2
40.7
3.7
36.7
36.4
42.6
36.2
40.0
40.3
3.4
37.0
36.6
43.4
37.7
40.1
40.5
3.5
36.8
36.6
'42.9
'37.1
40.3
40.4
3.6
36.6
36.3
'42.4
'36.3
'39.2
'39.4
'2.9
36.8
36.6
43.0
36.9
40.3
40.3
3.5
41.4
4.0
42.1
40.3
39.4
42.1
43.4
41.6
42.3
40.2
41.1
40.9
38.9
41.3
3.9
42.6
40.9
39.6
42.2
42.4
41.5
42.9
40.1
41.0
41.0
38.8
40.8
3.5
41.9
40.4
39.8
41.6
41.8
41.0
42.3
39.6
40.0
40.6
38.3
41.1
3.6
42.1
40.6
39.7
41.9
41.4
41.2
42.5
40.2
40.6
40.8
39.0
40.9
3.7
'42.7
'40.3
39.5
41.7
41.5
41.3
42.4
39.9
40.3
40.5
38. 9
'39.8
'2.9
'41.5
40.1
38.9
'41.1
'41.2
'39.7
'40.8
39.1
' 39. 0
'39.4
'37.7
41.0
3.7
42.5
40.4
39.3
41.4
41.7
41.2
42.5
40.2
40.3
40.6
39.0
40.6
38 9
42 0
41.8
41 3
42 4
40 1
41 0
40.4
38 7
42 2
42.7
41 5
43 0
40 4
41 1
40.9
39 1
41 3
39
42 4
40 3
39 4
41 9
42.7
41 5
42 6
40.0
41 5
40.8
38.6
40.8
on A
40.7
on i
41 4
4 0
41 9
40 9
40 1
42 2
41.9
41 5
49 5
40 1
41 9
40.5
38 9
39 6
34
40.4
38 3
40 8
35 8
39 8
36
40.1
39 2
41 6
36 1
39 6
34
40.4
37 9
40 9
36 0
39 6
33
40.1
37 8
40 8
36 0
39 6
3 4
40.2
36 0
40 8
35 9
39 5
33
40.4
38 5
40 8
35 7
39 8
3 4
40.6
37 9
40 9
35 9
39.7
3.3
40.6
39.2
40.5
35.8
39.7
3.5
40.8
40.7
40.6
35.7
39.8
3.4
40.9
38.9
40.8
35.9
39.6
3.4
40.8
39.5
40.6
35.2
39.6
3.3
40.8
38.8
40.7
35.6
39.5
3.3
'40.4
'37.7
40.4
35.5
'38.8
'2.8
39.8
'38.6
39. 2
'34.6
39.4
3.2
40.7
37.4
40.3
35.6
42.8
37.9
41.8
42. 2
41.2
38.3
49
37
41
49
41
37
7
9
9
9
0
9
42
38
41
41
41
38
8
0
9
9
5
2
42
38
42
42
40
37
8
0
0
1
8
9
42 7
37 8
42 0
41 7
40 7
38.1
42
37
42
42
40
37
7
7
1
4
8
8
42 4
37 7
42 1
42 1
40 5
38.1
42
38
42
49
41
38
42
37
41
42
40
38
6
9
9
2
8
0
42.7
37.9
42.0
43.0
41.2
38.0
42.8
37.8
41.9
42.7
41.0
37.5
42.8
37.7
41.8
42.5
40.6
37.2
42.5
37.7
42.0
42.6
40.9
37.8
'42.6
'37.6
r
41.8
'42.8
'40.8
38.1
'41.7
'37.1
' 41. 9
' 42.7
'39.4
'37.3
42.5
37.6
41.5
42.4
40.1
37. 9
40.4
35.1
39.8
33.6
37.2
34.1
40
34
39
33
37
34
6
7
5
9
1
1
40.7
34.8
39 5
33 4
37.2
34.1
41
34
39
33
37
34
0
g
7
4
0
2
40.7
34.9
39 5
33 5
37.1
34.4
40.7
34 7
39 5
33 2
37 2
34 2
40.9
34.5
39 4
33 0
37.0
34.2
40.6
34 6
39 5
33 2
37 2
34.1
40.8
34 5
39 3
33 0
36.9
34.0
40.7
34.6
39.4
33.1
37.0
34.0
40.4
34.5
39.1
32.9
37.2
34.0
40.8
34.3
39.1
32.8
36.9
34.0
40.4
34.4
38.9
33.0
37.0
34.1
'40.3
34.3
38.9
32.9
36.9
34.0
'41.1
34.5
'38.8
33.1
36.8
33.9
40.7
34.3
39.0
32. 9
36.9
34.1
149.11
121.09
1.45
7.25
42.14
9.74
29.36
7.94
23.20
28.02
148.36
120.40
1.45
6.84
41. 69
9. 94
29. 37
7.88
23. 22
27.95
149.25
121.23
1.48
7.36
41. 61
9. 86
29. 55
7.94
23.43
28. 02
111.8
104.9
107.2
112.3
103.5
104.6
111.0
102.5
106.8
105.5
101.8
102.1
101.4
116.8
109.3
112.6
114.0
112. 1
122.7
124.3
111.8
4 1
42 3
Af)
in
f)
4
9
4.1 Q
R
39 9
49 i
42.4
41 6
49 g
40 4
41 9
40.7
39 0
in q
49 3
42.2
41.9
A") r
4H fi
41
49
40
49
A
fi
6
1
4
-j
49 7
Af\ r
OQ Q
42 i
42.2
41 fi
42 2
40 2
49 9.
41 5
4O 7
qn 7
4 A
42 5
Af)
7
qq 7
8
0
0
5
0
4
MAN-HOURS
Seasonally Adjusted
Man-hours of wage and salary workers, nonagric.
establishments, for 1 week in the month, seasonally adjusted at annual rate t--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
142. 46
115 37
1 34
6 78
39 68
9.47
28.68
7.59
21 83
27 09
147. 29
119 87
1 38
7 06
41 62
9.74
29.46
7.82
22.81
?7 41
1146.59
i 119 33
1 32
!6.90
41.59
19.70
29.42
17.80
' 22.59
' 27.26
Indexes of man-hours (aggregate weekly) rtlf
Private nonagric. payrolls, total.
1967 = 100
Goods-producing
do
Mining
do
Contract construction
do
Manufacturing
.
do
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
106 6
qg i
97 5
105 5
Q6 8
94 0
00 5
11° 5
104.4
110.4
109 0
110 9
120.1
116 8
110.8
103 3
100 9
109 7
102 2
102 9
101 1
116 1
107.2
113. 3
112.4
113.7
192 7
122'. 1
110.4
102.9
96.2
106.5
102.5
103.0
101.7
115.7
107.0
113.4
111.5
114.1
122.8
120.7
'147.12 r 147.53 r 147.30 ' 147.35
r 119 go r 120.18 ' 119 91' 119.97
1.40
1.39
1 39
1 34
'7.13 ' 7.20 '7.12
' 7 08
63
»
41.
48
'41.52
'41 56 Ml.
r
9.72 ' 9. 72 ' 9. 81
'9.78
'
29.
40
'
29.
57
'
29.
44
' 29. 53
7.82
'7.84
' 7. 79 '7.82
r
22.
92
r
22.
94
'
22.
80
' 22. 71
r ?7 32 ' 27. 35 '27.40 ' 27. 38
110.8
103.1
98 0
109.7
102.1
102.8
101 1
116.1
107.9
113.7
112.2
114.3
122. 3
12l! 4
111.1
103.4
101.4
110.7
102.2
102. 9
101.2
116.5
107.2
113.8
112.3
114.2
122.7
122.6
110.9
103.4
101.6
112.0
102.0
102. 9
100.6
116.0
107.0
113.2
112.2
113.6
122. 9
121.9
110.9
103.1
102.9
110.6
101 .8
102.6
100.7
116.3
107.9
113.0
112.6
113.1
122.7
122.8
' 148.03 r 148.53 ' 149.24
' 120 54 ' 120.86 '121.74
1.43
1.41
1.41
'7.11 '7.46
' 7. 09
' 41. 75 '41.95 r 42. 16
r 9. 84
' 9. 76 ' 9. 90
r 29. 61 ' 29. 58 ' 29. 77
7.88
' 7. 90 '7.85
> 23. 03 ' 23. 05 ' 23. 19
' 27. 49 ' 27. 67 ' 27. 50
111.4
103.7
103.7
110.2
102.6
103.5
101.2
116.8
107.2
113.8
113.1
114.1
123.7
123.3
111.7
104.0
103.8
110.3
103.0
104.0
101.4
117.0
109. 0
113.7
113.4
113. <
122.8
123.4
112.5
105.3
105.1
115.3
103.6
104.6
102.0
117.5
108.3
114.6
114.5
114.6
123.4
124.1
116.6
107.1
112.8
113.2
112.6
124.0
124.2
109. 2
114. 2
' 149.07 ' 148.28
' 120.67 ' 120.12
' 1.45
'1.46
' 6. 90
7.19
' r41. 38 ' r40. 80
9. 97
9.80
' 29. 51 ' 29. 72
7.92
7.91
'T 23. 41 rT 23. 38
28. 16
28. 41
149. 83
121. 18
1.48
6.98
41. 55
9.88
29.70
7. 96
23.63
111. 2 ' 110. 6
102. 5
107. 3 ' 106. 3
111.4 ' 106. 6
r
100.8
r
100.8
111.7
r
r
117. 2
113.5
113.7
1114
' 117. 7
'113.3 ' 114. 1
' 113. 8 ' 113. 6
m
i)
r 1 99. 4
125.5
' 125. 1
124. 9
inn 7
-I rvo
r
113. 9
114.6
113 7
l'^4 0
126.3
HOURLY AND WEEKLY EARNINGS
Average hourly earnings per worker:1f
Not seasonally adjusted:
3.87
3.85
3.83
Private nonagric. payrolls
dollars
3 89
3 65
4.67
4.60
4.61
Mining . . . . . . . . . .
do
4.70
4.38
6.35
6.34
6.31
Contract construction
.do .
6.47
6.06
4. ft
4.02
4.01
Manufacturing .
do
4 07
3.81
3.86
3.85
3.83
Excluding overtime
...
do
3.88
3.65
4.30
4.28
4.26
4.32
Durable goods
do. . .
4.05
4.09
4.08
4.06
4.12
Excluding overtime
do. . .
3.88
4.22
4.23
4.18
Ordnance and accessories
do...
4.09
4.28
0 03.61
3.54
3.51
Lumber and wood products. . .do
3.58
3.25
3.24
3.21
Furniture and
fixtures
do. .
3.26
3.06
4.17
4.14
4.11
3.91
Stone, clay, and glass products
do...
4.18
4.96
4.92
4.95
Primary metal industries
do
4.66
5.03
4.24
4.21
4.19
4.24
Fabricated metal products
do. . .
3.91
4.50
4.49
4.50
4.55
Machinery, except electrical
do...
4.27
3.83
3.81
3.81
3.86
Electrical equipment and supplies. do. ..
3.67
5.05
5.00
5.00
Transportation equipment
do. . .
5.07
4.73
3.84
3.86
3.81
Instruments and related products. -do. ..
3.72
3.88
3.26
3.22
Miscellaneous manufacturing ind..-do...
3.27
3.11
' Revised.
v Preliminary.
i Revisions for Jan.-Mar. 1973 are as follows (bil. manhours): Total, 144.76; 145.89; 145.99; total private, 117.63; 118.65; 118.81; construction, 6.59;
6.79; 6.96; manufacturing, 40.92; 41.35; 41.33; transportation, etc., 9.64; 9.61; 9.61; trade, 29.09;
19.34; 29.36; finance, etc., 7.69; 7.75; 7.75; services, 22.37; 22.48; 22.47; government, 27.13; 27.24;
27.18.
4.14
4.07
4.04
4.06
4.02
4.01
4.00
3.99
3.91
3.99
3.90
r ^ O7
5 08
4.92
4. 99
4.86
4.76
4.69
4.78
4.70
7c
74
6 81
'
6
78
6
6
6.70
6.74
6.67
6.66
6.46
6.64
6.40
4 39
r 4 94
4
24
4
21
4.21
4.21
4. 16
4.14
4.06
4.13
4.06
4 fl^
' 4 10 4 15
4.04
4.02
3.97
3.95
3.88
3.93
3.89
' 4 50 4 60
4 47
4 rrv
4.48
4.47
4.42
4.39
4.31
4.39
4.31
4.41
4.35
4.29
4.31
4.28
4.29
4.21
4.19
4.11
4.12
4.17
4.61
'4.53
4.61
'4.53
4.49
4.49
4.48
4.38
4.29
4.37
4.28
3.80
'3.76
3.73
3.74
3.68
3.68
3.65
3.62
3.67
3.68
3.59
3 48
'
3
4'?
3 39
3 41
3.36
3.36
3.34
3.34
3.28
3.33
3.25
r 4 38
4 44
4
30
4
33
4.27
4.29
4.28
4.21
4.27
4.26
4.20
5.50
'5.38
5.25
5.30
5.24
5.23
5.23
5.14
5.10
5.16
5.00
4 52
4 43 r 4 40
4 39
4.38
4.39
4.35
4.24
4.32
4.30
4.24
4.85
4.73
4.75
4.78
4.73
4.75
4.65
4.63
4.53
4.61
4.51
4.07
3.99
3.97
'
3.
99
3.98
3.98
3.93
3.88
3.91
3.91
3.86
5.41
'5.25
5.23
5.27
5.28
5.32
5.16
5.02
5.14
5.10
5.06
4 10
r
4
05
4
05
r
4
06
4.04
3.95
3.87
3.93
3.93
3.87
3.47
3'. 43
3.42 '3.43
3.41
3.36
3.33
3.31
3.26
3.31
3.26
t See note "{", P- S-14.
U Production and nonsupervisory workers
, bottom
§ Revised beginning June 1971 to correct errors of estimation; revisions appear at bottom
of p. S-14, Oct. 1973 SURVEY.
June 1974
SURVEY OF CURRENT BUSINESS
S-16
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown
in the 1973 edition of BUSINESS STATISTICS
1972
1973
1973
Annual
Apr.
May
June
July
Aug.
1974
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May?
LABOR FORCE, EMPLOYMENT, AND EARNINGS—Continued
HOURLY AND WEEKLY EARNINGS— Con.
Average hourly earnings per worker 11— Con.
Not seasonally adjusted— Continued
Private nonagric. payrolls — Continued
Manufacturing— Continued
Nondurable goods
dollars..
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. do
Leather and leather products
do
Transportation, comm., elec., gas
do
Wholesale and retail trade
... . . do
Wholesale trade
do
Retail trade
...
. d o
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.: ® HJ
Private nonfarm economy:
Current dollars
1967 = 100..
1967 dollarsA
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 NR): d"
Common labor.
$ per hr
Skilled labor
do
Railroad wages (average class I)§
do
Avg. weekly earnings per worker, ^private nonfarm:|
Current dollars, seasonally adjusted
. . .
1967 dollars, seasonally adjustedA
Spendable earnings (worker with 3 dependents):
Current dollars, seasonally adjusted..
1967 dollars, seasonally adjustedA
Current dollars, not seasonally ad justed :t
Private nonfarm, total
dollars..
Mining
do
Contract construction
do
Manufacturing ...
.
do
Durable goods
do
Nondurable goods ..
..
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
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
3.69
3.53
3.83
3., 77
2.94
2.78
4.19
4.68
4.47
5. 22
3.80
2.81
5.04
3.20
4.12
2.87
3.61
3.36
3.63
3.48
3.78
3.81
2.90
2.74
4.11
4.63
4.40
5.22
3.76
2.79
4.96
3.16
4.07
2.83
3.59
3.32
3.64
3.50
3.82
3.84
2.90
2.74
4.12
4.67
4.42
5.22
3.71
2.80
4.96
3.17
4.09
2.84
3.57
3.32
3.66
3.51
3.82
3.91
2.90
2.75
4.16
4.68
4.46
5.24
3.75
2.80
4.99
3.19
4.10
2.86
3.58
3.34
3.70
3.55
3.82
3.97
2.89
2.74
4.23
4.70
4.49
5.26
3.82
2.79
5.04
3.20
4.12
2.86
3.61
3.36
3.70
3.54
3.83
3.73
2.92
2.79
4.24
4.70
4.50
5.24
3.81
2.80
5.12
3.21
4.13
2.87
3.60
3.34
3.75
3.58
3.85
3.68
3.02
2.84
4.26
4.76
4.53
5.29
3.86
2.84
5.19
3.26
4.19
2.92
3.66
3.44
3.76
3.60
3.89
3.73
3.03
2.85
4.27
4.75
4.54
5.26
3.86
2.85
5.18
3.27
4.18
2.93
3.64
3.44
3.78
3.62
3.91
3.81
3.06
2.86
4.30
4.76
4.58
5.29
3.90
2.87
5.19
3.29
4.22
2.94
3.67
3.45
3.80
3.64
3.97
3.87
3.07
2.83
4.31
4.79
4.60
5.27
3.91
2.87
5.19
3 .28
4.27
2.94
3.72
3.48
3.83
3.68
4.00
3.92
3.06
2.85
4.33
4.79
4.64
5.40
3.92
2.90
5.21
3.35
4.29
2.99
3.74
3.50
3.83
3.69
4.02
3.89
3.06
2.86
4.31
4.82
4.64
5.42
3.93
2.92
5.24
3.36
4.31
2.99
3.75
3.53
3.85
3.70
'4.05
4.01
3.07
2.87
'4.33
4.85
'4.65
'5.42
'3.93
2.94
5.23
'3.38
4.33
3.01
3.75
3.54
'3.86
'3.74
'4.07
'4.11
3.04
'2.89
4.35
'4.84
'4.69
'5.54
'3.86
2.95
'5.28
3.38
4.37
3.01
3.76
3.56
3.91
3.76
4.12
4.20
3.10
2 95
4.38
4.92
4.70
5.49
3.92
3.01
5.31
3.43
4.40
3.07
3.78
3.60
3.65
4.38
6.06
3.81
4.64
3.02
3.45
3.18
3.89
4.70
6.47
4.07
5.04
3.20
3.61
3.36
3.84
4.59
6.35
4.01
4.97
3.15
3.58
3.32
3.85
4.62
6.34
4.02
4.97
3.16
3.56
3.32
3.87
4.70
6.43
4.04
5.01
3.19
3.59
3.36
3.91
4.74
6.46
4.07
5.03
3.21
3.61
3.38
3.92
4.73
6.50
4.09
5.11
3.23
3.61
3.37
3.96
4.78
6.59
4.13
5.15
3.26
3.67
3.42
3.98
4.76
6.59
4.16
5.17
3.27
3.65
3.43
3.99
4.83
6.63
4.16
5.18
3.29
3.67
3.44
4.02
4.90
6.67
4.18
5.19
3.31
3.73
3.48
4.02
4.97
6.69
4.20
5.20
3.33
3.73
3.49
4.04
4.96
6.72
4.20
5.24
3.34
3.72
3.52
4.07
4.98
6.78
'4.24
5.26
'3.37
3.74
3.54
4.08
'5.05
'6.83
4.24
'5.30
3.37
3.75
3.56
4.14
5.09
6.81
4.32
5.32
3.42
3.77
3.60
137.9
110.1
136.7
146.9
135.4
143.7
135.0
133.4
138.4
146.5
110.1
146. 4
156. 2
143. 3
155. 8
143.2
140.4
146.4
144.4
110.5
144.0
153.4
141.1
154.6
141.2
139.1
144.7
144.7
110.1
144.8
153.7
141.8
153.5
141.7
138.5
144.7
146.0
110.4
146.2
155.4
142.7
155.0
142.9
139.5
146.3
146.9
110.9
147.9
156.3
143.7
155.6
143.6
140.9
147.3
147.6
109.4
147 .5
157.2
144.5
157.7
144.4
140.9
146.9
149.0
109. 9
149.5
159.1
145.4
158.5
145.7
143.4
148.8
149.6
109.5
148.4
159.2
146.5
159.8
146.2
142.7
149.1
150.3
109.1
150.2
160.3
147.0
160.0
146.9
143.6
149.9
151.3
109.2
152.1
161.2
147.9
160.2
147.9
145.5
151.3
151.7
108.4
154.2
160.5
148.5
161.1
148.8
145.2
152.1
152.5
107.6
154.8
162.5
149.3
162.2
149.1
145.2
152. 9
153.5
107.2
156. 1
163.6
150.1
163.0
' 150. 4
' 145. 5
' 153. 8
' 154. 5
107.3
' 157. 7
' 164. 6
' 151. 4
'164.4
150.9
' 146. 9
' 155. 2
155.9
107.1
158.6
164.6
153.2
164.7
153.1
147.5
156.5
6.642
9.146
1.84
4.923
7.07
9.59
2. (X)
5.427
6.910
9.490
1.97
6.93
9.48
7.04
9.52
7.09
9.55
2 02
7.18
9.66
7.22
9.72
7.22
9.76
1 97
7.25
9.80
7.27
9.84
7.29
9.89
9 17
7.31
9.89
7.31
9.90
7.31
9.91
2.21
7.31
9.91
135. 78
108. 36
144.32
108. 43
142.85
109. 29
143. 22
108. 95
143. 58
108. 57
145. 45
109. 80
145 .04
107 .48
147.31
108.72
147. 26
107. 80
148. 03
107. 53
148.74
107.39
147. 53
105. 40
149.48
105.51
149. 78
104. 60
149. 33
103. 69
152. 35
104.68
120. 79
96.40
126. 55
95. 08
125.42
95.95
125. 70
95.63
125.98
95.26
127. 42
96. 19
127.11
94.19
128. 86
95.10
128. 82
94.30
129. 42
94.01
129 .96
93.83
129. 03
92. 18
130.53
92.13
130. 77
91. 33
130. 42
90.56
132.75
91.21
135. 78
186. 15
224. 22
154.69
167. 27
137. 76
187. 46
106. 00
154. 42
90.72
128.34
108. 44
144. 32
199. 28
240. 68
165. 65
179. 28
146. 12
204.62
111.04
162. 74
95. 28
133. 93
114. 58
141.33
191.82
232.21
163.21
177 22
143. 39
199.39
108.70
159.95
93.39
133.55
112.88
142. 45
195. 46
237. 75
163. 61
178. 05
143. 78
201. 87
109. 37
161.56
93.72
131.73
112.55
144. 74
200.34
241.94
165. 24
179.31
145. 67
204. 09
112.29
162.36
96.67
132. 82
114.90
146. 64
200.22
245.76
164.43
177.14
146. 89
207. 14
113.92
163.56
98.10
134. 65
116.93
146.63
200.73
247 .42
164.43
176.28
147.26
210.43
113.63
163.55
97 .87
133.56
115.90
148.83
205.54
251.66
169. 33
183.06
150.00
211.75
113.12
165.51
96. 94
135.79
117.30
147. 63
204. 20
251. 08
168.50
181.75
149. 27
211.86
112.16
164. 27
96. 10
134. 68
116. 62
148. 00
208. 49
250. 13
169. 73
183. 43
150. 82
211.75
112. 85
166. 27
96.43
135. 79
116.96
149.17
214.02
245.22
173.45
187.71
152.38
210.71
113.82
168.67
97.61
138.38
118.32
146. 33
211.08
235.23
168.40
181.04
150.14
210.48
113.57
166.88
96.58
138.01
118.30
147.86
213.07
245.34
168. 82
181. 93
150. 14
211.17
113. 90
166.80
96. 88
138.75
119.67
148. 60 147. 74
'211.58 214.97
>• 247.73 244.76
' 170.87 166.21
184. 05 178.20
151.31 148.61
r 209.72 214.37
' 114.92 115.26
168.00 r 168.68
98.43
97. 52
138. 38 138. 37
120. 01 120. 33
151.52
217. 93
251. 29
174. 10
188. 60
153. 66
214. 52
116. 62
170. 72
99. 78
139. 10
121. 68
101
122
121
122
123
131
126
120
123
120
114
111
108
' 111
'116
• 115
4.4
3.3
4.2
2.2
1.1
4.8
3.9
4.6
2 7
.9
4.5
3.6
4.1
2 4
.7
5.3
4.4
4.3
2.7
.6
5.9
5.0
4.4
2.8
.6
5.1
4.1
5.1
2.8
1.4
6.2
5.0
6.5
4.5
.8
5.7
4.7
5.7
3.9
.7
5.2
4.3
4.9
3.0
.8
3.8
3.0
4.1
2.2
1.0
2.6
2.0
3.9
1.6
1.5
4.2
3.2
4.9
2.2
1.7
3.6
2.7
4.0
1.9
1.2
4.0
3.0
4.3
'2.3
1.1
»4. 5
"3.3
P4.3
p2.4
P.9
4.9
3.9
4.4
2.6
.8
5.1
4.3
4.7
2.8
.8
4.5
3.6
4.7
2.9
.8
4.8
3.9
4.5
2.8
1.0
4.7
3.8
5.1
3.0
.9
4.7
3.7
4.4
2.4
.7
5.0
3.9
4.6
2.8
.8
4.8
3.8
4.6
2.8
.9
4 2
3.5
4.4
2.5
1.1
4.5
3.6
5.1
2.6
1.5
4.3
3.4
4.8
2.5
1.3
4.4
3.4
4.8
'2.6
1.2
M. 9
^3.6
"4.6
P2.6
pl.O
500
830
530
890
500
850
420
740
380
650
250
460
310
480
350
560
480
710
550
840
r
5.500
5.452
HELP-WANTED ADVERTISING
Seasonally adjusted index f
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
WORK STOPPAGES
Industrial disputes:
Number of stoppages:
Beginning in month or year
In effect during month
Workers involved in stoppages:
Beginning in month or year
In effect during month
...
Man-days idle during month or year
number. _
do
5,010
5,600
470
710
580
860
520
840
thous.-do
do
1,714
2,200
146
167
1,890
155
253
2,483
238
299
2,173
27,000
27, 066
' Revised.
* Preliminary.
« Estimate.
t See corresponding note, p. S-14.
U Production and nonsupervisory workers.
®The indexes exclude effects of changes in the proportion of workers in high-wage and
low-wage industries, and the manufacturing index also excludes effects of fluctuations in
overtime premiums. See also note "J", for p. S-14.
211
163
102
132
78
164
213
167
253
259
331
237
134
244
145
354
341
261
360
377
3,542
1,973
1,142
1,305
1,849
2,421
2, 729
2,698
2,510
2,696
cTWages as of June 1, 1974: Common, $7.41; skilled, $10.05.
§ For line-haul roads only;
omits wages in switching and terminal companies.
.
AEarnings in 1967 dollars reflect changes in purchasing power since 1967 by dividing by
Consumer Price Index. Effective May 1974 SURVEY, data reflect new seasonal factors (revisions
available back to 1969).
t Re vised Mar. and July 1972 (1967 = 100), 93 and 104.
SURVEY OF CUERENT BUSINESS
June 1974
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown
in the 1973 edition of BUSINESS STATISTICS
1972
S-17
1973
1973
Annual
May
Apr.
June
July
1974
Aug.
Nov.
Oct.
Sept,
Jan.
Dec.
Feb.
Mar.
Apr.
May
LABOR FORCE, EMPLOYMENT, AND EARNINGS—Continued
UNEMPLOYMENT INSURANCE
Unemployment insurance programs:
Insured unemployment, all programs, average
weekly §9. ._
thous
State programs:
Initial claims .
do
Insured unemployment, avg weekly. _do .
Percent of covered employment: A
Unadjusted.
. _
Seasonally adjusted
Beneficiaries, average weekly
_ thous.
Benefits paid §
mil $
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 $
r
2 186
P 1, 783
1 828
1 610
1 523
1 640
1 572
1 440
1 451
1 667
2 092
2 751
*>2 562
13 580
1 848
P 12 820
P 1, 632
920
887
865
954
747
978
1 436
1 299
1 299
1 159
1 503
1 619 r 9 114
1 922
2 561
1 436
2 630
1 215
2,502
P2, 217
35
p 9 7
2 4
2 6
1 229
316 3
2 1
2 6
19 102
48 3
21
2 6
1,070
9
80 7
2 4
2 7
1 138
289 4
4.2
41
31
3.3
2 8
31
230
1 363 r2 062 '2
r
335 9 r 570 8 553 3
4.0
3.4
2,266
593 9
1 467
4 471 0
P i 371
P 4 007 6
1 669
1 465
1 384
1 231
1 505
28
2 7
1 506
363 6
2 5
2 7
1 299
339 2
2 4
2 7
1 210
287 1
2 5
9 7
1 202
296 3
2 824
2 740
r
3.5
3.3
36
B qo
31
28
28
39
42
42
44
47
47
47
43
40
36
523
106
103
361 8
P 3gQ
x>69
27
58
58
32
59
55
27
51
48
28
54
50
33
67
26
66
r
65
26
65
65
61
16 7
14 3
17 4
13 5
14 3
14 2
30
60
53
15 3
31
50
59
17 0
28
56
54
26
53
59
P 209 4
26
64
65
93
12
9
13
3
10
7
9
Q
9
13
9
10
4
9
4
10
4
9
§
14
1 7
15
18
16
1 9
19
16
2 7
105
20
51 5
pgQ
2 9
30 6
2 3
r
67
14 6 r 20 200
r
17 532
18 255
3
12
2 4
10
2.2
3
9
2.0
166
690
028
662
10 692
44, 677
14 991
29, 686
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
Bank debits to demand deposit accounts, except
interbank and U.S. Government accounts,
annual rates, seasonally adjusted:
Total (233 SMSA's) O- ..
bil $
New York SMSA
do
Total 232 SMSA's (except N.Y.) _
do
6 other leading SMSA's f
do
226 other SMSA's
do " "
Federal Reserve banks, condition, end of period:
Assets, total?
mil $
Reserve bank credit outstanding, total 9. .do
Discounts and advances
do
U.S. Government securities
do
Gold certificate account
Liabilities, total 9
Deposits, total.. .
Member-bank reserve balances
Federal Reserve notes in circulation
6
34
12
22
8 8Q9
10
44
15
29
6
34
q
25
713
404
QQ4
070
4qfi
A 4QQ
26 236
9fi 907
7
35
9
26
18 293
21 840
20 075
20 319
20 641
20 856
21 206
9
9
1 454
21 505
21 840
29 506
22 919
23, 171
23, 641
24,041
9 767
2 QCQ
7 449
9 953
2 765
7 601
10 118
2 7oc
10 256
2 811
7 789
10 441
2 §55
10 59°
2 73§
8 016
10 781
2 711
7 961
10 9269
2 66
7 917
11 071
2 577
8 193
11 245
3 123
8 138
11 402
3 211
8 306
11, 467
3 143
8 561
11,878
2 891
8,872
12,142
2, 693
9, 205
••20,167.1
8 914 4
r
ll,252.7
4 718 0
r
6 534 8
20,084.4
8 637 9
11,446.5
4 775 1
6 671 4
9 107
2 298
6 889
11 071
2 577
8 193
15 971
9 043 8
97 675
77, 291
1 981
69 906
6 888
35 672
9
9
7 237
35 786
7 7Q8
106 464 1 on m n
84, 680
1 9^S
70 n i c
79, 832
79,392
7
37
9
28
734
149
026
123
7 §99
8
37
10
27
1 346
80, 355
r17 994 4 r!7
7 ^81 A.
104 439
1 01 ^77
83, 349
82,489
"7 flQ8
0
8
41
13
28
170
641
198
443
6
889 7 r!7 919
8 095 3
r
r
rf)
§94
9
!0
145
1
9
843
0
9 414 3
4 1 Qe 7
16 459 0 16 638 8
9 975 1
693
463
1619
30
237
602
046
556
8
42
14
28
493
945
141
804
8
41
13
°8
892
0739
06
Oil
101 944 107 429
103 656
106 464
140 665 104 409
85, 454
2 1 08
83, 217
1 915
77 129
84,680
1 258
78 516
83,422
961
78 940
83,439
720
78 237
11 460
11 460
11 460
81,123
1 K*iS
7fi no .
76 165
78 4Q1
1 n ^n^i
10 303
11 460
10 303
11 460
i A qnq
106 464
1 On fll A
28 667
25, 647
qi AQK
OA Q1Q
34 88fi
qi -I j r
27, 060
25, 700
24,892
24,818
28, 495
28, 955
28, 240
31,787
28, 108
31 486
27, 060
59, 914
65, 470
59,414
60, 223
60, 847
61,362
61,640
61, 628
62, 120
63, 292
00
qq 7oc
34 019
33 782
34 9129
34 71
All member banks of Federal Reserve System,
averages of daily figures:
i 31 353 i 35 Qg§
Reserves held, total
mil $
i 31 134 1 34 ggg
Required
.
do
Excess
__.
do
i 219
1 96^
1
Borrowings from Federal Reserve bank's
do
1, 049 1 1,298
Free reserves..
do
i 8^n i i nfio
Large commercial banks reporting to Federal Reserve System, Wed. nearest end of yr. or mo.:
Deposits:
Demand, adjusted cf
.mil. $.. 106, 219
112,531
i n °,f>°.
1 n ^n*}
1,721
1,786
97, 232
95,919
1,789
-OJ
2, 051
2,143
97, 924 100, 176
96, 466
11 460
105 463
32 134
28,241
31 297
27,989
39 950
29,838
65, 470
63, 497
63, 662
64, 121
34 727
34 523
35 068
34 806
9 9
36 655
36 419
35 242
35 053
1,399
_ -i 111
1,298
1 069
1,044
790
1,186
980
34 966
34 790
r 176
1, 352
1 144
99, 621 100, 178 112,531
99, 349
98, 204
200
1,861
1,467
97, 578
85,194
1 820
79 483
11 460
237
1 477
T
105 463 109,282 PllO, 961
140 665 104 409
i n 1 ^77 101 944 107 429
qo qnq
101
491
4199
07
r
r
!8 395 3r!9 050 9 !8,641.2 !8,815.7 -•19,813.6
8 137 ° 8 437 9 8 097 7 8 081 0 8 896 2
r
r
r
r
!0 958 0 r!0 612 9 !0 543 5 !0 734 8r!0 917.4
4 41 8 n A K1 Q Q 4 462 8 4 517 1 4 589 1
rft flSn 7 r6 917 6 r6 335 3
97 675
i n °.n°.
9
45
15
30
r
do
do
364
164
346
818
41 073
13 062
28 Oil
do
do
do.M
9
47
17
29
898
721
172
549
103 656 106 464
204
236
6
189
r
86,360
1 747
80 007
90, 140
3 298
81,395
11,460
11,460
r
109,282 niO, 961
T
r
39 822
28,795
35 127
30, 898
64, 971
65, 802
r
r
35,929 "36,486
35r 771 36, 325
161
158
2, 579
1,714
r — l 509 —2, 316
101,444 102, 010
96, 753
Demand, total 9
Individuals , partnerships, and corp
State and local governments
U.S. Government
Domestic commercial banks
do
169, 768
do. . _" 121,308
do
7,221
do.".
6,469
d o _ ~ I ~ 22, 412
184, 565 156,704 150,506 149,944 157,604 143,546 156, 014 162,134 156, 083 184,565 158,015 155,789
128, 207 109,077 109,224 107, 453 111,539 105,787 110,371 112,876 112,459 128,207 109,056 109,235
6,238
6,014
7,352
7,352
6,173
6,317
7, 159
6, 561
6, 901
5, 697
6, 836
7,504
5, 690
3,241
7,164
7, 164
5, 512
2, 138
3,480
2, 891
5, 646
1,816
3,010
7,447
25, 286 21,021 20,341 19, 362 22,748 19,072 21, 246 24, 607 22, 406 25, 286 22, 815 22, 787
163,148 166, 939 161,068
113,210 114,468 112,819
6,042
7,167
6,064
3,591
7,347
3,714
25,
044
24,732 22, 445
Time, total 9
Individuals, partnerships, and corp.:
Savings
_.
Other time
do
189 645
IDA qji
93 137 199 851
197,889 203, 690 209, 559
57 087
95,405
eg 994
160 661
do
do
58 57°
72, 334
Loans (adjusted), totaled_ do
Commercial and industrial
do
For purchasing or carrying securities., "do
To nonbank financial institutions
do
Real estate loans
.
do
Other loans . ,
do
226,042
91,442
12, 535
20, 524
Investments, total
U.S. Government securities, total .
Notes and bonds
Other securities
do
do
"do
do
4.C QQ9
83, 419
86, 338
1QK J Q <
87, 228
cij 9C«
97, 902
56 17''
96,585
56 128
95, 438
56 278
94, 014
79 op.o
9
56 80
98, 902
57 087
95, 405
270, 659 242,952 246,084 250,603 256,120 256,833 259,755 259,297 260,217 270,659
110,778 02,433 102,711 104,812 107,433 106,789 08,299 106,829 107,632 110,778
9, 182
9,439
9,439 10, 054 10, 120
9, 508
9, 301
9. 640
9, 700 12,128
28, 075 23. 125 23, 712 24, 897 26, 599 25, 872 26,312 25, 608 25,321 28, 075
C = I 01
85,146
86, 982 7!), 603 79, 843 79, 370
29, 133
25, 460 24,493 23.989 23, 836
22,552 1 19,932 19,971 19, 798 19,797
56,013 ! 61,522 55,110 55, 494 55, 534
r
l
Revised.
*> Preliminary.
Average for Dec.
§ Insured unemployment (all programs) data include claims filed under extended duration provisions of regular State laws;
amounts paid under these programs are excluded from State benefits paid data.
AInsured
unemployment as % of average covered employment in a 12-rnoiith period.
9 Includes
data not shown separately.
cf For demand deposits, the term "adjusted" denotes demand
deposits other than domestic commercial bank and U.S. Government, less cash items in
550-325 O - 74 - S-3
3 7 ^4«
92, 814
190 776 189 784 188 70° 186 481 189 645
57 144
99, 038
58 485 57, 836 57, 844
102,519 106, 210 111,C56
64,503 267,013 278,044 284, 339 284, 045
09,442 110,475 18,498 121,575 120, 888
7, 935
8, 426
8, 202
9, 185
8, 129
26,272 28,221 29, 841 29, 824
26, 325
9
57,
512
56,
767
56
148
55
659
55 6 7
83 076 83 661 86 173 86, 771 85, 300
?
OA q-i c
on oqq
89 208
752
78,256 78, 450 80, 235 82, 292 82, 850 86,982 87, 086 86, 884 87,230 85, 017 83,
850
22, 299 22, 098 22, 523 23, 195 24, 257 25,460 25, 691 25,357 25,326 22, 960 21,
19.345 18, 592 19,202 19, 256 19, 823 19,932 19, 832 20, 492 20,161 20, 270 19, 730
55, 957 56,352 i 57,712 59, 097 58, 593 61,522 61,395 61,527 61 , 904 62, 057 61, 902
process of collection; for loans, exclusive of loans to and Federal funds transactions with
domestic
commercial banks
loan
items
s
o m e s c commerca
a n s and
a n after
a r deduction of valuation reserves (individual
inemae
are shown gross; i.e.. before deduction of valuation reserves).
©Total SMT^ s inemae
some cities and counties not designated as SMSA's.
If Includes Boston, Philadelphi
Chicago, Detroit. San Francisco-Oakland, and Los Angeles-Long Beach.
SURVEY OF CURRENT BUSINESS
S-18
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown
in the 1973 edition of BUSINESS STATISTICS
1973
1972
1973
Apr.
Annual
.Tune 1974
May
June
July
Aug.
1974
Sept.
Oct.
Nov.
Dec.
>•r 620. 2
439. 1
r
56.4
" 124. 7
r 624. 2
r 628. 4
r 445. 5
'55.0
'r 630. 3 ' 638. 0 r 645. 7 r 654. 9 >• 663. 2
447. 3 r 452. 3 r r457. 1 r 466. 3 r r473. 7
'•52.8
'•54.4
56. 2 '56.2
56.7
r 127.
r 130.
Jan.
Feb.
Mar.
Apr.
May
FINANCE—Continued
BANKING- Continued
Commercial bank credit (last Wed. of mo., except
for June 30 and Dec. 31 call dates) , seas, adj.:f
Total loans and in vestments O
bll. $
LoansO
-__do___
U S Government securities
..do
Other securities
do _
Money and interest rates: §
Bank rates on short-term business loans:
In 35 centers
percent per annum
New York City
do
8 north cen tral centers
do
8 southwest centers
do
Discount rate (N.Y.F.R. Bank), end of year or
month
_
percent-
556.4
377.8
61.9
116.7
•• 630. 3
" 447. 3
"52.8
' 130. 2
5.82
5.57
6.07
8.30
8.06
8.65
7.36
7.04
7.71
9 24
9 08
9.49
10.08
9.90
10.51
9.91
9.68
10.28
5.74
6.07
6.02
5.80
8.29
8.34
8.30
8.26
7.44
7.37
7.33
7.25
9.24
9.25
9.16
9.25
10.02
9.96
10.08
10.04
9.98
9.80
9.93
9.78
589.6
411.1
61.0
117.5
597.7
417.4
61.0
119.3
602.0
420.3
61.6
120.1
rr 608. 8 '•617. 4
427. 5 r 435. 9
>• 59. 8
r 57. 9
r
121. 5 >• 123. 6
r 441. 1
"-55.1
r 128.
0
9
2
•-131.3
r 132. 4
r 132.
4
r 132.
8
668.6
478.0
56.7
113. 9
8.00
4.50
7. 50
5.50
6.00
6.50
7.00
7.50
7.50
7.50
7.50
7.50
7.50
7.50
7.50
8.00
16.00
17.16
6.71
6.34
7.08
7.21
7.38
7.42
8.05
8.18
8.34
8.42
8.52
8.58
8.58
Home mortgage rates (conventional 1st mortgages):
New home purchase (U.S. avg.)
percent-Existing home purchase (U.S. avg.) _ do
i 7.45
17.38
i 3 7. 95
i 3 8. 01
7.71
7.70
7.71
7.77
7.79
7.79
7.87
7.84
7.94
8.01
8.17
8.26
8.31
8.50
8.39
8.58
8.49
8.61
8.52
8.64
8.62
8.70
8.64
8.63
8.67
'8.60
P8.72
P8.66
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
24.47
24.69
24.52
25.16
2 8.08
28.15
2 7. 40
2 8. 25
6.97
7.14
6.76
7.00
7.15
7 27
6. 85
7.18
7.98
7.99
7.45
7.83
9.19
9.18
8.09
8.41
10.18
10.21
8.90
9.41
10.19
10.23
8.90
10.04
9.07
8.92
7.84
10.02
8.73
8.94
7.94
10.00
8.94
9.08
8.16
10.00
8.72
8.66
7.92
9.95
7.83
7.83
7.40
9.39
8.43
8.42
7.76
9.08
9. 61
9. 79
8.43
10. 23
10.68
10.62
8.94
11.48
2 4. 071
25.85
2 7. 041
2 6.92
6.289
6.74
6.348
6.78
7.188
6.76
8.015
7.49
8.672
7.75
8.478
7.16
7.155
6.81
7.866
6.96
7.364
6.80
7. 755
6.94
7.060
6.77
7.986
7.33
8. 229
7. 99
8.430
8.24
Federal intermediate credit bank loans
do
Yield on U.S. Government securities (taxable):
3-month bills (rate on new issue)
percent.,
3-5 year issues
do
CONSUMER CREDIT
(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 .
180, 846 161,491 164, 277 167, 083 169, 148 171,978 173, 035 174,840 176, 969 180,486 178, 686 177, 522 177, 572 179, 495
do
127,332
147,437 131,022 133, 531 136, 018 138, 212 140, 810 142, 093 143,610 145,400 147, 437 .46, 575 145, 927 145, 768 147,047
do
do
do
do
44, 129
40, 080
6,201
36, 922
do _ _ - 111,382
59, 783
do
32, 088
do
..
-
Retail outlets, total
Automobile dealers
Noninstallment credit, total
Single-payment loans, total
Commercial banks
Other financial institutions
Charge accounts, total
Retail outlets
Credit cards
._ _
Service credit
mil. $._ 157, 564
_
_ _ _ _ _ _ _
51,130
47,530
7,352
41,425
46, 478
40, 441
6,408
37,695
47,518
41, 096
6,541
38, 376
48, 549
41,853
6,688
38, 928
49, 352
42, 575
6,845
39,440
50, 232
43, 505
7,009
40, 064
50, 557
44, 019
7,120
40, 397
51,092
44, 632
7, 235
40,651
51,371
45, 592
7,321
41,116
51,130
47, 530
7, 352
41,425
50,617
47, 303
7, 303
41,352
50, 386
46, 781
7,343
41,417
50,310
46, 536
7,430
41, 492
50, 606
47,017
7, 573
41,851
129,305 115,727 118,165 120, 450 122,479 124, 823 126, 040 127,307 128, 553 129, 305 128,870 128, 807 128, 799 129, 988
69,495 62, 459 63, 707 64, 999 66, 065 67, 381 67,918 68, 627 69, 161 69. 495 69, 429 69, 246 69, 232 09,944
37, 243 33, 078 33, 859 34, 367 35, 020 35, 634 35, 993 36,365 36, 887 37, 243 37, 140 37, 148 37, 005 37, 291
do - -do
16, 913
2,598
19,609
2,958
17,455
2, 735
17, 832
2,767
18,269
2,815
18,517
2,877
18,961
2,847
19, 207
2,922
19,339
2. 976
19,517
2,988
19, 609
2, 958
19,429
2,872
19,430
2, 983
19,550
3, 012
19,704
3, 049
do
do..
15, 950
261
18,132
299
15,295
278
15, 366
284
15, 568
289
15, 733
293
15, 987
296
16, 053
297
16,303
300
16, 847
302
18,132
299
17, 705
296
17, 120
293
16, 969
292
17, 059
293
do
do
do
do
30, 232
12, 256
10, 857
1,399
33, 049
13, 241
11,753
1,488
30, 469
12,686
11,237
1,449
30, 746
12,817
11,359
1,458
31,065
12, 990
11,520
1,470
30, 936
12, 968
11,491
1,477
31,168
13,111
11,655
1,456
30, 942
13, 088
11,608
1,480
31,230
13, 145
11,654
31, 569
13,161
11, 661)
1,492
33, 049
13, 241
11,753
1,488
32, 111
13,117
11, 652
1, 465
31,595
13, 159
11,663
1,496
31, 804
13, 188
11,086
1, 502
32, 448
13, 315
11,806
1,509
9,002
7,055
1,947
8,974
9, 829
7, 783
2, 046
9,979
8, 036
6, 129
1,907
9,747
8,319
6,387
1,932
9,610
8,555
6,544
2,011
9, 520
8,479
6, 424
2,055
9, 489
8,605
6,475
2,130
9, 452
8,335
6, 229
2, 106
9,519
8,590
8, 785
6, 554 j 6, 761
2, 036 j 2, 024
9, 495
9, 623
9,829
7,783
2,046
9, 979
8, 875
6, 894
1, 981
10, 119
8,018
6, 136
1,882
10,418
7, 939
6, 097
1,842
10, 677
8,434
6, 556
1,878
10, 699
do
do
_do _
do
1,491
Installment credit extended and repaid:
Unadjusted:
Extended total
Automobile paper
Other consumer goods paper
All other
_
do
do
do
do
142 951
55, 599
47, 111
165, 083
46,453
66, 859
51,771
13,661
4,101
5,378
4,182
14, 792
4,409
5,698
4,685
14,608
4,313
5,678
4,617
14,812
4,177
5,753
4,882
15,099
4,252
6,065
4,782
12, 624
3,476
5,217
3, 931
14, 454
4, 196
5, 894
4,364
14, 098
3, 693
5, 980
4, 425
14,117
2,872
6,826
4, 419
12. 375
2, 934
5, 471
3, 970
11,227
2, 945
4,525
3,757
13, 246
3, 546
5, 479
4,221
14, 856
3, 944
6,141
4,771
Repaid, total
Automobile paper
Other consumer goods paper
All other.
do
do
do
do
126, 914
34, 729
49, 872
42, 313
144, 978
39, 452
59, 409
46,117
12,014
3,233
4,888
3,893
12, 283
3,369
5,043
3,871
12,121
3,282
4,921
3, 918
12,618
3,374
5,031
4,213
12,501
3,372
5,135
3,994
11,341
3,151
4,703
3,487
12,937
3,661
5, 281
3, 995
12, 308
3, 414
5, 020
3,874
12,080
3,113
4,888
4, 079
13, 237
3,447
5, 698
4, 092
11,875
3,176
5,047
3, 652
13, 405
3, 622
5, 724
4, 059
13, 577
3,648
5, 660
4, 269
13,465
3 822
5,563
4,080
13, 932
3,989
5,504
4, 439
13, 646
3,762
5,505
4,379
14,542
3,930
5,943
4, 639
14,294
3,968
5, 961
4,365
13, 691
3,939
5,537
4,215
14, 149
3,912
5,911
4,326
14, 275
3,819
5, 978
4,478
12, 677
3,315
5, 254
4,108
13,714
3, 492
5, 662
4,560
13, 541
3, 389
5,647
4,505
13, 823
3,484
5, 933
4,406
14, 179
3, 545
6,034
4,600
11,941
3,261
4,917
3,763 1
12,034
3,253
4,955
3,826
12,544
3,334
5,141
4,069 1
12,399
3,293
5,168
3, 938
12, 332
3,406
5,072
3,854
12, 449
3,427
5,149
3,873
12, 549
3,471
5, 154
3, 924
12, 267
3,338
5,001
3, 928
12, 797
3,433
5,193
4,171
12, 870
3, 394
5,340
4,136
13, 206
3, 544
5, 596
4,066
13, 026
3, 498
5,483
4,045
Seasonally adjusted:
Extended, total
.
Automobile paper
Other consumer goods paper
A l l other
_
_____
do
do
do
do
•rO,
194
Repaid, total
do
12, 061
Automobile paper...
._
do
3, 218
Other consumer goods paper
do
4, 963
All other
__ _ _
do
3,880
T
Revised.
*> Preliminary.
1
Average for year.
2 Daily average.
3 Beginning Jan. 1973, data reflect
sample and weighting.
O Adjusted to exclude interbank loans.
changes in
§ For bond yields, see p. S-21.
fBeginning Jan. 1959, monthly data have been revised to
reflect new seasonal factors and adjustment to benchmarks for the latest call date (June 30,
1973). Revisions are in the Nov. 1973 Federal Reserve Bulletin.
SURVEY OF CURRENT BUSINESS
June 1974
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown
in the 1973 edition of BUSINESS STATISTICS
1972
1973
S-19
1973
Apr.
Annual
May
June
July
1974
Nov.
Dec.
Jan.
Feb.
Mar.
20, 209
22, 099
21,987
19, 686
23, 476
23, 671
20, 226
21, 030
16, 818
22, 905
2,302
4,271 -5,455 -1,891
-847
1,891 -2,302
5,455
847 -4, 271
2,202
564
1,395
3,128
-563
4,060
-311 -5, 430
1,410 -4, 835
-105
195
-773
968
Aug.
Sept.
Oct.
25, 007
20, 736
17, 637
23,092
Apr.
May
FINANCE—Continued
FEDERAL GOVERNMENT FINANCE
Budget receipts and outlays:
Receipts (net)
Outlays (net).-.
mil. $
do
208, 649
231, 876
232,225
246,526
16, 584
20, 157
28, 537
20, 814
18, 121
22, 607
Budget surplus or deficit (—)..
Budget financing, total
Borrowing from the public
Reduction in cash balances .
do
do
do
do
-23,227
23, 227
19, 442
1
3, 785
-14,301 3,554 -3,573
14,301 -3, 554
3,573
19, 275 -2, 159 -1,970
5,543
-4, 974 -1,395
7,723
-7,723
-2,369
-5,354
4 486
4,486
-713
5,199
Gross amount of debt outstanding
Held by the public
do
do
437, 329
323, 770
468,426
343,045
67, 322
47, 383
67, 555
45, 414
68, 426
43, 045
69, 296 472, 438 472, 073 473,139 474, 973 480, 660 478, 957 481, 443 485, 649
42, 332 341, 769 342, 333 343, 727 345, 930 349, 058 348, 285 348, 123 352, 432
208, 649
94, 737
32, 166
232,225
103,246
36, 153
25, 860
11, 587
5,657
16,584
3,825
923
28, 537
12, 306
8,796
18,121
8,814
1,350
21, 291
9,279
695
25, 007
11,707
5,247
17, 637
9,230
1,053
20, 209
10, 106
652
21,987
9,134
6,096
23,476
14,327
1,562
20, 226
8,601
810
16, 818
3,219
5,549
53, 914
27, 832
64,542
28,286
6,359
2,258
9,380
2,456
5,081
2,354
5,336
2,621
8,778
2,539
5,409
2,644
4,712
2,641
6,724
2,827
4,149
2,608
5,232
2,356
8,400
2,406
5,721
2,330
231, 876
10, 943
i 75, 150
246,526
10,028
i 73, 297
22, 306
643
6,207
20, 157
62
6,238
20, 814
273
7,473
22, 607
2 326
5,033
22, 139
847
6,662
20, 736
249
6,032
23,092
799
6,523
22, 099
1, 161
6,647
19, 686
137
6,123
23, 671
1,209
6,690
21,030
547
6,285
22, 905
682
6,662
71, 779 i 82, 042
i 22, 124 i 30, 982
3,422
13,311
i 10, 710 i 11,968
7,125
3,760
265
1,111
7,583
2,214
255
1,014
7,815
2,124
301
862
6,902
3,863
278
1,097
7,203
2,284
262
1,050
7,396
2,552
246
968
7,415
3,763
249
1,056
7,463
2,566
246
1,191
7,383
2,371
221
1,141
7,996
4,061
251
1,202
7,862
2,522
231
1,086
8,164
2,640
252
1,191
Budget receipts by source and outlays by agency:
Receipts (net), total .
.
mil. $
Individual income taxes (net)
do
Corporation income taxes (net)
do
Social insurance taxes and contributions
(net)
.
mil. $
Other
do
Outlays total 9
do
Agriculture Department
do
Defense Department, military
do
Health, Education, and Welfare Department
mil. $..
Treasury Department
do
National Aeronautics and Space Adm
do
Veterans Administration
do
25, 860
22, 306
21, 291
22, 139
-804 -6, 086
804
6,086
-162
4,309
966
1,777
Receipts and expenditures (national income and
product accounts basis), qtrly. totals seas. adj.
at annual rates:
Federal Government receipts, total
bil. $
228.7
265.0
262.4
269.5
274.3
'285.6
Personal tax and nontax receipts
do
Corporate profit tax accruals
do
Indirect business tax and nontax accruals. do
Contributions for social insurance
do
107.9
37.8
19.9
63.0
114.5
49.4
21.0
80.1
111.4
50.8
21.2
79.1
116.9
51 0
20.8
80 8
121.0
49 4
21.5
82 5
123.3
••53.7
21. 5
87.1
Federal Government expenditures, total. ..do
244.6
264.0
262.4
265.6
269.6
282.3
104.4
74.4
106.6
73.9
107 3
74 2
106.8
74 2
106 8
73 0
112.1
76 3
82.9
37.7
13.5
95.4
40.9
15.9
93.8
40.5
15 6
96.6
40.5
16.2
99.6
41.6
17.0
107.0
43.3
18.0
6.1
5.1
5.1
5 3
4 6
2 0
.0
.0
-.1
o
0
do
-15.9
.0
.0
4.0
4.7
bil. $..
do .
do
do
do
239.73
11.37
112.98
76.95
71.27
252. 07
11.38
117. 73
81.18
75.19
242. 56
11.46
115.18
77.26
71.61
243. 59
11.43
115.90
77.40
71.72
244. 53
11.36
116.15
7 .91
7 .19
247. 08
11.43
118.06
78.24
72.47
247.66
11.42
117.84
78.66
72.84
250 .20
11.40
119.20
79.04
73.18
251. 59
11.40
110. 71
79. 52
73.62
251.06
11.46
118. 02
80.19
74.26
252.07
11.38
117.73
81.18
75.19
253. 53
11.46
110. 08
81.49
75.53
254. 74
11.54
110.72
81.74
75. 70
255. 85
11.77
119. 04
81. 07
75. 00
7.30
18.00
1.98
11.15
7.77
20.08
2.25
11.69
7.52
18.42
1.66
11.07
7.54
18.53
1.69
11.09
.55
18.67
1.78
11.10
7.58
18.84
1.80
11.13
7.63
19.18
1.73
11.20
7.68
19.51
1.81
11.56
7.76
10. 77
1.83
11. 59
7.84
19.93
1.81
11.81
7.77
20.08
2.25
11.69
7.82
20.24
1.90
11.54
7.82
20. 38
1.82
11.72
7.83
20.54
1.81
12.00
208,730
145, 479
55, 857
7,394
232,016
162, 110
63, 000
6, 807
18,522
13, 450
4,466
606
19,141
14, 176
4, 330
626
19,600
13,715
5,313
581
18,820
13, 003
5,283
543
19,058
13,418
5,061
570
17,250
12, 407
4,261
582
20,326
14,614
5, 165
547
20,293
14, 177
5,578
538
26,822
15,114
11,100
608
17, 799
12, 623
4,650
526
18, 670
13, 447
4,638
504
22, 245
15, 520
6, 003
632
20,840
16, 033
4,217
500
10, 410
-1,715
63, 053
357, 689
11,567
-1,538
145,965
356, 150
10,410
6
2,899
41,127
10, 410
2
3,056
33, 070
10,410
25
21,503
34, 990
10,410
22
24, 958
27,134
10,410
0
4,012
17, 061
10,410 11,567
18 -1,685
4,973 23, 586
36, 162 33, 770
11,567
18
15, 970
30, 411
11,567
36
37, 234
23, 236
11, 567
24
20, 223
19, 767
11, 567
5
9,191
58, 959
11,567
7,185
41, 412
11, 567
11
19,331
23, 264
1, 109. 8
77.2
1,073.6
75.0
86.6
6.2
86.0
6.8
87.6
6.4
88.3
5.6
90.2
5.7
97.5
7.0
97.2
6.3
88.8
6.7
91.2
6.1
88.8
6.1
84.3
6.3
1,114
13, 527
3.637
2,424
20, 459
5. 359
10, 422
67, 433
5.326
Purchases of goods and services.
National defense
.
do
do
Transfer payments.
do
Grants-in-aid to State and local govts.. do
Net interest paid...
do
Subsidies less current surplus of government
enterprises..
bil $
Less: Wage accruals less disbursements. ..do
Surplus or deficit (—)
0
r
3.3
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 _
do
do
do
do
Life Insurance Agency Management Association:
Insurance written (new paid-for insurance):
Value, estimated total
mil $
Ordinary (incl. mass-marketed ord.) d o _ _ _
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 :1
South Africa
Canada
mil $
do
88.2
5.7
Silver:
Exports
thous $
31, 592
1,871
1,503
1,093
856
4,563
3,277
1,718
27,637
876
5,627
Imports
do
59,357 268, 63:9
6,838
7,490 15,231 32, 988 27,569 30,764 22, 200 66, 370 32, 156
Price at New York
dol. per fine oz
1.685
2.860
2.207
3.137
2.636
2.675
2.886
2.558
2.401
2.621
2.706
Production:
United States
thous.fineoz._ 39, 727 43,566 4,615
4,345
5,314
3,803
3,003
2,089
3,385
4,118
3,036
r
Revised.
r> Preliminary.
i Data shown in 1971 and 1972 ami aal coluinns are for
mont hs.
9 Includes data for items n ot showri
fiscal years ending June 30 of the respective years; 1 hey inclu de revisioiis not di stributed to
1 Valued at $38 p er fine 01ince froni
gold (-).
11, 567
2,886
58, 521
5.036
5. 432
4,967
5,874
4,936
3,370
3,125
separately.
§ Or increase in ea rmarked
72-Sept. 1973, at $42.22 th ereafter.
Jan. 19
SURVEY OF CURRENT BUSINESS
S-20
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown
in the 1973 edition of BUSINESS STATISTICS
1972
1973
| 1973
Apr.
Annual
June 1974
June
May
July
Aug.
1974
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
FINANCE—Continued
MONETARY STATISTICS— Continued
bll.$_.
66.5
72.5
66.1
Money supply and related data (avg. of daily flg.) :©
Unadjusted for seasonal variation:
Total money supply
bll. $_.
Currency outside banks
do
Demand deposits
do
Time deposits adjusted^
do
U.S. Government demand depositsl!
do_
248.9
54.6
190.9
293.4
7. 2
' 263. 8
59.3
' 204. 4
' 345. 3
7.1
260.9
58.3
202.6
337.6
8.3
Currency in circulation (end of period)
Adjusted for seasonal variation:
Total money supply .
Currency outside banks
Demand deposits
Time deposits adjusted^
.
67.2
67.8
Turnover of demand deposits except interbank and
U.S. Govt., annual rates, seas, adjusted:
Total (233 SMSA's) O ratio of debits to deposits
New York SMSA
do
Total 232 SMSA's (except 1N Y )
do
6 other leading SMSA'sd"
do
226 other SMSA's
do
95.7
228.9
66.2
101. 9
52.5
68.4
68.2
69.0
97.8
235.1
67.4
103.7
56.3
265. 5
59. 4
206.2 '
345. 9 r
266.4 ' 266. 3 ' 265. 5 ' 266. 6
' 60. 5
59. 5
60.2
59. 8
206. 9 206.4 ' 205. 3 206.1
349. 6 ' 355. 1 r 358. 0 r 359. 1
99.9
245.0
68.7
107.6
54.0
102.6
247.5
71.3
111.7
55.8
106.2
252.5
73.6
113.6
58.4
107.4
266.4
72.4
111.6
57.5
109.5
265.3
74.7
116.4
58.8
72.2
69.9
70.5
71.2
' 278. 1
'61.6
' 216. 5
' 369. 4
8.0
' 270. 8
'61.9
' 209. 0
' 374. 4
'6.6
' 273. 5
'62.7
' 210. 8
' 379. 2
6.3
' 279. 6 P274. 5
'63.6
64.3
' 216. 1 210.3
' 387. 3 394.3
6.0
7.5
' 269. 2 T 271. 4 T r270. 8
'61.0 '61.7
61. 9
' 208. 2 ' 209. 7 ' 208. 9
r 360. 1 ' 363. 5 '370.1
' 273. 7
'62.7
'211.1
' 374. 8
' 276. 2
'63.4
' 212. 9
' 377. 7
' 278. 1 J>279. 3
'64.0
64.5
' 214. 1 214.8
' 387. 4 394.8
70.3
72.5
265.7 ' 263. 0 ' 264. 0 ' 266. 1 ' 270. 9 r 279. 1
263.6
257. 9
60.1 T 60.4 ' 61. 5 '62.7
60.0
59. 4
'60.0
58.7
205. 7 ' 209. 5 r 216. 4
205.7
202.0
204.1
203.8
199. 2
'
359.
3 ' 360. 3 ' 359. 0 ' 362. 2
'
347.
8
'
356.
7
r
344.
7
' 342. 7
6.0
4.3
6. 5
4.1
6.3
7.1
5.3
8.7
259. 4
262.4
58.6
58. 9
200.8
203.4
' 337. 4 ' 342. 7 f
_.do. _.
do
do
do
68.2
113.2
274. 9
77.1
118.6
61.2
110.2
269.8
75.8
115.0
60.6
111.5
270.3
77.3
116.2
62.2
118.0 ' 118.2
294. 2
292. 5
79.3 '80.3
119. 9
120.8
63.7 '64.7
115.2
274.6
80.1
119.4
64.9
PROFITS AND DIVIDENDS (QTRLY.)
Manufacturing corps. (Fed. Trade and SEC):
Net profit after taxes, all industries
mil. $. _
Food and kindred products
do
Textile mill products
do
Lumber and wood products (except furniture)
mil $
Paper and allied products
do
Chemicals and allied products
do
Petroleum refining
do
Stone clay and glass products
do
Primary nonferrous metal
do
Primary iron and steel
do
Fabricated metal products (except ordnance,
machinery, and transport, equip.)
mil. $..
48, 058
3, 790
827
12 972
897
256
11 612
996
199
12, 968
1,131
182
1,012
941
4,499
1,711
1,441
5, 686
574
402
1 473
443
370
1,441
324
378
1,435
5,151
1,060
687
1,022
7, 366
1 ?63
1 , 367
1,679
1 671
376
363
458
1,967
407
9
90
411
2, 322
312
462
474
1,569
o 003
608
564
586
3,481
2,999
4, 957
3, 968
1 340
994
1 200
974
1,326
1, 149
780
3,639
5,944
911
4, 083
6, 788
1 i ART
1,811
9SS
191
467
1 693
209
762
1,915
do
16,110
17 767
4 968
4 1°5
5 252
mil $
95, 408
106,618
6,567
11,219
7,943
7,643
8,036
8,091
8,924
12,553
6,635
' 3, 392
' 3, 686
3,294
do
do
do
do
82,337
26, 291
9, 912
3,372
89, 435
21,669
7,780
3,377
5, 809
1,739
558
200
10,403
1,722
627
187
7,122
2, 757
606
216
6,882
1,870
536
226
7,610
1,396
330
96
7, 542
1,366
430
119
7,883
2,358
685
355
11,247
2,257
668
637
5,866
2, 469
573
196
r 3, 392
284
152
' 2, 686
318
268
3,122
361
395
39, 574
6, 593
1,932
11,316
32, 823
4, 875
1,073
10, 270
2, 497
282
141
519
2, 537
399
109
765
3,578
728
50
1 , 596
2,631
533
102
920
1,822
275
141
513
1,915
348
59
585
3, 398
522
57
949
3,563
476
34
1,080
3.238
504
157
888
'3,392 '2,686
' 896 '387
181
' 139
829
1,441
3 122
569
55
1,447
do
do
do
1, 230
4, 832
10, 055
1,541
4,906
8, 436
92
258
971
245
374
581
183
332
517
250
303
374
86
325
357
142
243
350
114
678
926
245
796
814
232
377
807
6
397
'871
76
331
593
do
_-do
do
54,610
17,080
23, 070
67,184
19, 0,57
22, 760
4,070
564
1,688
8,681
3,353
1,870
4, 365
559
2, 046
5,012
490
1,992
6,214
3, 097
1,474
6, 176
2,432
1,630
5, 525
485
2, 232
8,990
4, 521
2, 224
3 397
148
1, 966
do
do
22, 941
25, 222
22, 953
24, 667
1,688
2,062
1,870
2, 492
2,031
2,517
1,992
1,923
1,474
1,740
1,630
2,750
2 °32
2, 501
2, 224
1,785
2,183 ' 2, 288 1,970
2, 117
2, 507
1,860
2, 091
1,786
1
9, 045 i f). 382
i 5, 251
i 8, 180
i 865 1 1,131
i | 528
8,165
7, 293
872
1,482
7, 650
6,784
866
1 50°
7,369
6,416
953
7,299
6, 243
1,056
7,081
6, 056
1 , 025
6,954
5,949
1,005
7,093
5,912
1,181
fi, 774
5, 671
1,003
1,102
6, 382
5, 251
1,131
6,462
5, 423
1,039
5, 519
Machinery (except electrical)
do
Elec machinery equip and supplies
do
Transportation equipment
(except motor
vehicles etc )
mil $
Motor vehicles and equipment
do
All other manufacturing industries
do
Dividends paid (cash) all industries
36,467
3,021
659
SECURITIES ISSUED
Securities and Exchange Commission:
Estimated gross proceeds total
By type of security:
Bonds and notes, total
Corporate
Common stock
Preferred stock
By type of issuer:
Corporate, total 9
Manufacturing
Extractive (mining")
Public utility
-
„
__
Transportation
Communication
Financial and real estate
Noncorporate total 0
U.S. Government _ _
State and municipal
State and municipal issues (Bond Buyer) :
Long-term
Short-term
mil. $..
do
do_ _ .
- do
'127
r
146
' 121
' 2, 323
' 2, 155
2, 138
2, 778
SECURITY MARKETS
Stock Market Customer Financing
Margin credit at brokers and banks, end of month,
total
mil ^
At brok ers .
do
At banks
r\o
Other security credit at banks
do
Free credit balances at brokers:
Margin accounts
do
Cash accounts
„
do
389
413
396
1454
1414
1,536
1,472
1,564
i 1.957 i 1.700
' Revised.
r> Preliminary.
i End of year.
©Effective February 1974 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
1971 are in the Feb. 1974 Federal Reserve Bulletin.
6, 343
5, 323
1, 020
424
464
454
442
420
419
379
348
379
1, 583
1,604
1,685
1,700
1,666
1,462
1,713
1,542
1,623
HAt all commercial banks.
OTotal SMSA's include some cities and counties not designated as SMSA's.
concludes Boston, Philadelphia, Chicago, Detroit, San Francisco-Oakland and Los
Angeles-Long Beach.
9 Includes data not shown separately.
SUBVEY OF CUERENT BUSINESS
June 1974
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown
in the 1973 edition of BUSINESS STATISTICS
1972
1974
1973
1973
Annual
S-21
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
FINANCE—Continued
SECURITY MARKETS— Continued
Bonds
Prices:
Standard & Poor's Corporation:
High grade corporate:
Composltec?
-- - 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:
^larket value
mil $
Face value
do
New York Stock Exchange:
Market value
Face value
do
do
65.9
84.4
63.6
85.4
64.9
85.7
64.7
86.1
64.4
85.8
63.8
83.2
61.0
82.2
61.2
86.2
62.1
86.9
62.1
85.6
62.9
86.1
62.3
85.2
62.0
85.3
61.3
83.5
60.0
80.2
59.7
77.3
68.71
62.80
64.39
63.43
62.61
60.87
58.71
61.81
63.13
62.71
62.37
60.66
60.83
58.70
57.01
56.81
9 515 67 r 8 297 99 781.70
10 077 35 9 420 76 923. 56
645. 90
738. 59
615.35
725. 34
604. 88
701. 33
766 20
852. 43
622. 73
699.17
741. 95
823. 72
628. 28
708. 70
536. 10
675. 34
594. 86
673. 60
509. 02
602. 90
610.31
727. 18
8 717 24 7 865 38 747 12
9 168 52 8 736 82 810. 76
606 45
684. 98
585 14
679. 35
579 43
663 75
744 67
807 02
697. 88
632. 78
691. 10
759. 22
597. 92
672. 62
497. 33
621. 38
567. 26
635. 50
468. 34
561. 97
580. 93
688. 09
379.95
335. 55
354. 44
351. 15
355. 69
399. 52
344.40
349. 19
366.42
287. 93
301. 99
313. 10
336. 83
New York Stock Exchange, exclusive of some
stopped sales, face value, total
mil. $_. 5, 444. 12 4, 424. 67
Yields:
Domestic corporate (Moody's)
By rating:
Aaa
Aa
A
Baa
.
percent. .
do
do
do
do
By group:
Industrials _
Public utilities...
Railroads
351. 32
7.63
7.79
7.62
7.62
7.69
7.80
8.04
8.06
7.96
8.02
8.05
8.15
8.17
8.27
8.51
8.68
7
7
7
8
7
7
7
8
44
65
83
24
7.26
7.49
7.64
8.09
7.29
7.49
7 64
8 06
7.37
7.55
7.71
8.13
7.45
7.64
7.86
8.24
7 68
7.84
8 11
8 53
7.63
7.86
8.11
8.63
7.60
7.84
7.98
8.41
7.67
7.90
8.07
8.42
7.68
7.92
8.11
8.48
7.83
7.97
8.22
8.58
7.85
7.97
8.26
8.59
8.01
8.08
8.34
8.65
8.25
8.28
8.61
8.88
8.37
8.42
8.85
9.10
21
48
66
15
do
do
do
7 35
7 74
7 98
7 go
7 83
8 12
7.43
7.64
7.98
7.41
7.63
8 01
7.49
7.69
8.07
7.59
7.81
8.17
7.91
8.06
8 32
7.89
8.09
8.37
7.76
8.04
8.24
7.81
8.11
8.28
7.84
8.17
8.28
7.97
8.27
8.34
8.01
8.33
8.27
8.12
8.44
8.34
8.39
8.68
8.51
8.55
8.86
8.73
Domestic municipal:
Bond Buyer (20 bonds)
Standard <fe Poor's Corp (15 bonds)
do
do
5.25
5 27
5.22
5 18
5.10
5 16
5.22
5 12
5.25
5 15
5.59
5 39
5.34
5 47
5.00
5 11
5.17
5 05
5.15
5 17
5.18
5.12
5.20
5.20
5.26
5.19
5.57
5.36
5.91
6.08
5.96
U.S. Treasury bonds, taxable©
do
5.63
6.30
6.11
6.22
6.32
6.53
6.81
6.42
6.26
6.31
6.35
6.56
6.54
6.81
7.04
7.07
8.92
9R1
4 87
1 0 4fi
9.58
9.38
10 17
4 99
4 00
7 54
11.53
9.39
10 18
4 99
4 00
7 54
11 64
9.41
10 19
5 00
3 97
7 54
12 89
9.53
10 45
5 01
3 97
7 54
13 20
9.59
10 53
5 02
4 06
7 54
13 23
9.62
10 58
5.03
4 06
7.54
11.88
9.73
10 75
5 03
4 09
7 55
11 88
10.16
11 22
5.03
4 09
7.55
11.90
10.19
11.23
5.04
4 19
7.66
12.91
10.34
11.44
5.08
4.19
7.82
12.91
10.37
11.49
5.09
4.04
7.83
13.10
10.41
11.52
5.12
4.08
8.13
13.18
10.43
11.68
4.56
4.08
8.13
13.18
10.41
11.64
4.57
4.09
8.13
13.22
Stocks
Dividend rates, prices, yields, and earnings, common stocks (Moody's):
Dividends per share, annual rate, composite
dollars..
Industrials
do
Public utilities
do
Railroads
...
do
N.Y. banks
do
Property and casualty insurance cos . do
Price per share, end of mo., composite
Industrials
Public utilities
Railroads
.. .
Yields, composite
Industrials
Public utilities
Railroads
.
N.Y. banks
Property and casualty insurance cos
_do
do
do
do
percent..
do
do
do
do
do .
Earnings per share (indust., qtrly. at arm. rate;
pub. utll. and RR., for 12 mo. ending each qtr.):
Industrials
... _ dollars
Public utilities
do .
Railroads
._
.
do
Dividend yields, preferred stocks, 10 high-grade
(Standard & Poor's Corp.)
percent..
o 70
5 01
4 f>q
7 32
lo' 99
12 13
290.65
285. 44
286. 63
358 35
74 73
77 95
281.78
352 21
74 69
71 60
280. 68
351 31
72 89
71 40
289. 38
363 50
69 70
74 55
279. 26
350 38
67 87
71 44
287. 99
357 go
72.38
77 35
288. 50
361 44
68 21
80 73
258. 72
320. 11
60.95
83 86
263. 71
323. 48
60.87
95 43
259. 96
318. 98
63.23
89.14
259. 70
316. 22
63.72
91. 77
253. 37
310. 44
61.31
86.16
243. 14
300. 31
50.33
80. 69
235. 56
293. 23
47. 49
73.58
3.07
9 fi'!
3.36
a
7 (\A.
3.27
2 84
6.68
5 13
3 49
3.56
3.33
2 gg
6 68
5 59
3 46
3 71
3.35
2 90
6 86
5 56
3 20
3 82
3.29
2 87
7 19
5 33
2 91
3.60
3.43
3 01
7 40
5 68
2 83
3 69
3.34
2 96
6.95
5 25
2 75
3 20
3.37
2 97
7 97
5 07
2 70
3.28
3.93
3.51
8.25
4.88
3.02
3.38
3.86
3.47
8.28
4.39
2.91
3.70
3.98
3.59
8.03
4.70
3.20
3.80
3.99
3.63
7.99
4.40
3.10
3.93
4.11
3.71
8.35
4.74
3.30
4.21
4.29
3.89
9.06
5.06
3.39
4.40
3.98
3.59
8.03
4.70
3.20
3.80
7 *&
qen of>
71 91
7Q 79
OCO AA
80 20
01 nn
(Yf
4 in
q qe
3
3
2 QO
20.28
7.73
6.71
r
rvr
AC.
oq
26.01
' 7.55
•" 7.60
7.35
7.43
7.38
7.18
7.40
7.76
7.60
7.47
7.56
7.83
8.11
65
10
02
22
286. 34
922 41
107. 38
175. 53
274. 32
893. 90
105. 34
159. 79
275. 35
903 61
101.38
162 70
267. 36
883. 73
95.72
157. 72
277. 54
909. 98
99.96
166. 82
295. 03
967. 62
101. 67
182. 75
272.02
878.98
93.18
175 .93
259. 84
824. 08
87.42
177. 96
273. 50
857. 24
93.16
191. 05
266. 86
831. 34
93. 16
186. 15
277. 49
874. 00
92.79
193. 83
264. 53
847. 79
85.48
181. 13
251.83
829. 84
76.03
167.57
110. 27
107. 22
104. 75
105. 83
103. 80
105. 61
109.84
102 .03
94.78
96.11
93.45
97.44
92.46
89. 67
118. 65
116.31
105. 94
53.31
35.22
116, 75
115. 98
104.35
50.14
33.76
118. 52
116. 60
105. 16
52.31
35.49
123. 42
122. 30
106.58
53.22
38.24
114.64
115.48
96.97
48.30
39.74
106. 16
107. 44
86.57
45.73
41.48
107. 18
108.06
87.63
48.60
44.37
104.13
104. 31
86.85
48.13
41.85
108. 98
109. 22
92.24
47.90
42.80
103. 66
104. 19
87. 73
44.03
40.26
101.17
100. 69
87.34
39.35
37.04
66.05
102. 23
66.62
102. 43
71.08
107. 24
73.43
113.30
69.63
107.01
65.33
101.09
65.38
108. 04
62.93
107. 14
67.63
110.38
63.93
103. 39
59. 92
93. 23
96. 25
122. 09 114.02 115. 33 119. 88 117.72 111.89 114. 65 106. 34 103. 67
assumed 3 percent 20-year bond.
O For bonds due or callable in 10 years or more.
9 Includes data not shown separately.
85.91
319.36
950 71
112.83
241. 44
286. 73
923 88
103. 39
180. 5.5
297
944
108
194
Standard & Poor's Corporation :d"
Industrial, public utility, and railroad:
Combined index (500 stocks)
1941-43 = 10.. 109. 20
107. 43
Industrial, total (425 stocks) 9 _
Capital goods (116 stocks)
Consumers' goods (184 stocks)
Public utility (55 stocks)
Railroad (20 stocks)
.do
do .
do...
.do .
do
121. 79
119.39
113. 90
56.89
44.11
120.44
118.57
107. 13
53. 47
37.76
123. 56
120. 38
111.24
55.34
35.88
119.95
116.48
107. 44
55.43
36.14
117.20
114. 75
104. 83
54.37
34.35
Banks:
New York City (9 stocks)
do ..
57.37
Outside New York City (16 stocks) _ ... do. .. 105. 81
64.60
104.35
59.50
100.49
59.79
97.72
58.28
97.45
Property-liability Insurance (16 stocks)..do
132. 58
118.93 119.77 109. 50 113.36
Revised.
P Preliminary.
d" Number of issues represents number currently used; the change in number does not
affect continuity of the series.
1f Prices are derived from average yields on basis of an
r
7.60
7.25
7.23
._
r
7.55
r
7.13
7.11
6.89
Prices:
Dow- Jones averages (65 stocks).
Industrial (30 stocks) _ .
Public utility (15 stocks)
Transportation (20 stocks)..
r 24 95
P7.15
29 18
77
7.60
7.11
7.63
7.10
SUEVEY OF CURRENT BUSINESS
S-22
1972
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown
in the 1973 edition of BUSINESS STATISTICS
| 1973
Annual
June 1974
1973
May
Apr.
June
July
Aug.
1974
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
49. 21
53. 95
35.87
32. 59
58.72
47. 35
52. 53
33.62
30.25
52. 85
FINANCE—Continued
SECURITY MARKETS— Continued
Stocks— Continued
Prices— Continued
New York Stock Exchange common stock indexes:
Composite
12/31/65=50..
Industrial
do
Transportation
_
do
Utility
do
Finance
do
60.29
65.73
57. 42
63.08
37.74
37. 69
70. 12
58.67
64.41
40.57
38.97
69.42
56.74
62.22
36.66
39.01
65.33
55.14
60.52
33.72
37.95
63.52
56.12
61.53
34.22
37.68
68.95
55.33
61.09
33.48
35.40
68.26
56.71
62.25
35.82
36.79
72.23
59.26
65 .29
39.03
37.47
74.98
54.59
60.15
36.31
34.73
67.85
50.39
55.12
34.69
33.47
62. 49
51. 39
55. 77
36. 85
35.28
64.80
50.01
54.02
36.26
35. 27
62.81
52.15
56.80
38.39
35.22
64.47
204, 026 r 177,878
6299 r 5, 7°3
12, 878
408
14,931
475
12, 085
409
11,927
399
12, 659
424
12, 623
408
18,726
587
17, 501
560
14, 232
529
14,411
524
9, 657
359
12, 649
450
159, 700
4 496
146, 451
4, 337
10,591
301
12, 343
357
9,852
308
9,717
306
10, 342
330
10, 395
309
15, 644
457
14, 528
435
11,860
407
12, 038
401
7, 953
273
10, 580
352
4,138
4, 053
278
337
269
308
271
329
423
400
385
363
257
310
254
275
Shares listed, N.Y. Stock Exchange, end of period:
Market value all listed shares
bil. $.. 871.54
Number of shares listed
.
- millions. . 19, 159
721.01
20, 967
775. 81
19, 686
758. 59
20, 066
752.58
20, 327
792.06
20, 466
765. 77
20, 521
807. 24
20, 548
808. 69
20, 607
709. 54
20, 694
721.01
20, 967
719. 81
21,056
718. 89
21,110
701. 18
21,163
669. 91
21, 224
645. 56
21,337
Sales:
Total on all registered exchanges (SEC) :
Market value
mil $
Shares sold
millions
On New York Stock Exchange:
Market value
mil $
Shares sold (cleared or settled)
millions
New York Stock Exchange:
Exclusive of odd-lot and stopped stock sales
(sales effected)
millions
50.17
38.48
78.35
r
FOREIGN TRADE OF THE UNITED STATES
VALUE OF EXPORTS
Exports (nidse.), inch reexports, total
mil. $.. 49,788.2 71,314.0
5,596.1
6,061.8
, 873. 6 7,340.1 8,547. 3 8,418.0 j 8,488.1
5,819.3 6,015. 6 5, 783. 5 7,127.7
5,896.4
8,381.4
8, 234. 0
,831.6 , , _ „ „ . _
,111.0 7,605.5
do
do
49,218.6 70, 798. 4
5,857.9 5,326.1 5,787.4 5,959. 0 6, 749. 3 7,091.1 6,925. 7
5,859.9 6,044.3 6,413.7 6,584.0 6,870.6 6,953.5
5,557.3
do
do
do
do
1,576.1 2,306.9
11,297.2 18,425. 4
1,034.4 1, 743.9
17,158.0 22,179.. 6
171.3
172.2
199.2
247.2
208.2
200.4
217.4
232.0
167.4
417.7 1,444.2 1, 444.2 1,466.3 1, 574. 0 1,692.6 1,714.0 1,915.1 !l,820.2
125.5
158.1
142.4 ! 248.5 212.6
150.5
135.2
134.0
109.3
827.4 2, 022. 5 1,899.0 11,729.6 1,825.8 1,772.4 |2,061.3 2,237.3 2,307.4
Northern North America
Southern North America
South America
do
do
do
12,418.8 15,075.1
3,564.1 5, 027., 3
3,707.1 4, 901. 3
314.1 1,422.1 11,334.3 1,049.3 1,080.9 1,190.9 Si, 516.4 1,343.0 1,377.7 1,396.8 '1,405.9 1,666.7 11,705.!)
453.3
541.0 : 525.9 ! 624.5 \ 670.0
415.9 I 410.5 ! 427.4
449.2 i 509.2 I 507.1 :i 474.6
363.1
482.9 ! 617.9 \ 611.0
442.9
488.}
353.6 i 375.2
357.3
447.5 | 552.8 ; 539.6
512.7
356.8
By leading countries:
Africa:
Egypt
Republic of South Africa
do
do
76.1
602.5
225. 4
746.4
12.7
57.6
do
do
do
do
856.5
350.1
183.0
128.0
1,449.1
524. 9
238. 9
161.6
90.5
35.1
16.6
do
do
do
307.6
365. 5
4,962.9
442.1
495. 5
8,311.8
Excl. Dept. of Defense shipments.
onally adjusted
By geographic regions:
Africa
Asia
Australia and Oceania
E urope
Asia; Australia and Oceania:
Australia, including New Guinea
India
Pakistan
Malaysia
Indonesia
Philippines
Japan
North and South America:
Canada
Latin American Republics, total 9
Argentina
Brazil.
Chile
Colombia
Mexico
Venezuela
Exports of U.S. merchandise, total
Excluding military grant-aid
Agricultural products, total
Nonagricultural products, total
Crude materials, inedible, exc. fuels 9
Cotton, raw, excl. linters and waste
Soybeans, exc. canned or prepared
Metal ores, concentrates, and scrap
• Revised.
13.2
60.8
33.4
66.9
130.2 I 108.6 i 107.6 | 135.2
106.
31.4
35.5
37.3 | 49.7 ! 82.1
16.0 1 15.7 I 24.9 i
9.0 ! 19.0
12.8 ! 10.4
12.3
14.3 i 15.2
30.2
41.4
747.8
1,608.9 2,263.1
17. 5 |
28. 0
2,807.5 1 3,755.9
191.4
200.1 i 160.5
2.0 !
1.2
.6
306.9 i 293.6 \ 322.1
154.0
.8
280. 9
165.2
11.0
308.4
do_
do.
dO-
1,434.2 j 2,118.8
549 9 I 1, 189. 8
2, 658. 2 3, 563. 5
188.7 ! 172.6 i 225.3
103.1 i 137.7
142.9
248.9 I 340.5 I 282.5
182.3 i 166.9
152'8
103.8 ! 97.3
272.5 I 267.9 | 289.0
do-
12,415.2
do
6,466. 8
396.1
do
1,242.7
do
do—
185.9
317.3
do
1,982.2
do
923.7
do
do
do
do
do
do.
do
do
do
do-
27. 2
30. 6
41.4
39.0
657.5 i 697.9
,313.5 !l, 422.0 j l , 334.1 |l, 049.1
8,921.4
451. 3
1,916.0
248. 5
436. 6
2,937.4
1,032.5
5,492.1 5,965.8
5,456.8 J5, 924.8
1 264.1 '1,364.9
4,227.7 1-1,602. 8
5,792.9
5,754-4
11,376.0
4,417.4
5,660.6 11,930.8
444. 2
251.9
3,501.1 8,495.1
768.6
834.7
45.6 ! 45.1
565.1
510.0
950. 0
38.5
660.3
68.4
73.4
908.3
5,030.4
503.3
1,508.1
507.9
1,008.5
8,383. 6
929. 0
2,757. 4
1,080.8
41.5
41.3
704.1
717.3
92. 5
248.1
67.5
778.8
69.8
290. 4
101.3
676.3
81.5
187.0
93.3
J5.310.5
15,244.4
[1,218.1
;4, 087.8
198. 1 !
34.1
59.3 !
29.6
187. 5
40.8
50.8
26.7
54.0
55.1
771. 9
i 151.1 I
! 16. 2 i
! 25.3 |
24.9 !
i
i
43. 7 ! 33.2 ;
47.0
796.3
964'. 6 i
44.3
69.6
939.1
43.6
58.7
944. 7
389.1
211. 9
225. 1
5.2
.3 i
367.7 i 428.6
293. 3 ! 234. 9
.4
3.6
484.0 j 448.6
116.5 I 217.4
61.8
47.5
23.7 | 28.8
19.7 | 17.1
183.8
34.5
31.6
20.3
42.8
44.7
757.4
198.4
.5 j
5.3
355.3 | 379.6
169.8 ! 213.3 ! 190.6
76.8
!
64.4 j
77.0
346.4 I 377.4 | 340.2
1,190.7 11,516.3 jl.342.9 |1,37:
]5,716.0 5,936.5
|5,684.1 15, 879. 9
1,469.5 : 1,448. 7
4,236.9 14, 487. 8
'6,668.1
16,633.9
,1,733.7
'4,934.4
2,345.5 '2,204.6
233.6 I 226.4
2,774.0 -2,630.4
43.3
100.6
15.5
67.0
42.5
55. 5
794.8
186.1
45.4
92.1
13.7
71.3
6.0
77.5
644.4
688.1 ! 705.7 I 706.3
812.9 I 809.2 , 974.4
34.9 i 30.6 I 29.4 j 25.2
57.9 j 53.5 ! 59.1
118.4 I 139.3 i 149.0
151.3 | 160.8 j 133.0 i 231.0
15.6
11.2
19.4
10.2 ! 15.2 ! 14. 8 i 38.6
32.1
27.0
39.0
33.2 j 47.3 ;
44.2 ! 41.1
214 8 i 240.4
235.8
253.0 j 268.1 | 271.7 !! 318.1
91.9
77.9
71.4
81.9 ! 84.8 | 82.0
99.2
70,223. 0
69,707.4
17, 676. 4
52,546. 6
48,978.6
48,419.1
9,406.9
39,571.7
9 Includes data not shown separately.
20.7
59.8
34.4
45.6
621.9
By commodity groups and principal commodities:
Food and live animals9
mil. $_
Meats and preparations (incl. poultry) _.do
Grains and cereal preparations
do_
Beverages and tobacco
34.4
60.3
35.7
44.6
706.2
Europe:
France
East Germany
West Germany
Italy
Union of Soviet Socialist Republics
United Kingdom
26.2
56.5
239. 7
813.7
183.1
, 210. 5
40.7
61.9
32.0
80.0
133.0
20.6
30.4
23.4
196.9 i 224.5
285.1 | 247.7
55.7 ! 55.8 ! 53.8 j 38.8
345.6 i 327.5 j 410.7 I 343.8
1,396.5 1,405.8 -1,666.6:1,70-1.0
933. 7
53.4
210. 5
50.6
40.4
277. 9
101.3
896.2
31.0
234. 8
29. 4
43. 6
281. 1
91. 2
927.1
31.5
214. 6
20.4
40.2
320. 8
97.1
7,037.8
J7,001.3
12,082.0
|4, 955. 9
[6,886.0
16, 842.0
11,975.6
4,910.5
6,729.5
6,750.4
1,839.2
4,953.2
912.7 11,129.5 i 1,175. 9 j
35.1 ,
43.1
35.0
246.8 |
245.4
175. 2
38.1 | 26.6 |
21.8
65.9 I
49.5 i
51.3
365.4 i 428.9 |
322.2
140.6 ! 135.8 !
100.2
17,248.7
,7,1206.9
1,918.5
5,330.3
|8,433. 8
8,406.2
2,106.3
6,327.5
18,292.4
J8,255.9
2,014.1
|6, 278. 4
907. 4 1,216.7 1,191.0 !l, 216.0 1,385.2 1,293.1 1,198.1 1,156.8 1,257.3 il,181.8 1,083.4
30.2
35.0
35.6
30.8
27.5
41.7 I 43.9
44.7
28.
32.4
917. 0 | ,77.5
820. 3
879. 1
935. 6
921.1
660.5
847.3
920.2
72.1
563.7
58.6
112.0
129.0
110.6
77.3
558.9
52.1
93.4
129.4
506.3
47.5
50.1
106.0
749.8
50.2
278.0
90.7
128.7
892. 2
56.6
419.8 j
79.7 I
94.3
852. 2
128. 9
334. 9
79. 5
90.8
854. 0
123.3
298. 0
99. 4
79.1
94. 9
111.3
992. 6 1,113.8 1,080.4 1,013.8
163.3
201. 0
145. 1
401.0
404.9
378.7
108.0
97.0
109. 0
SUEVEY OF CURRENT BUSINESS
June 1974
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown
in the 1973 edition of BUSINESS STATISTICS
1972
1974
1973
| 1973
Annual
S-23
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
FOREIGN TRADE OF THE UNITED STATES—Continued
VALUE OF EXPORTS— Continued
Exports of U.S. merchandise— Continued
By commodity groups and principal commodities—Continued
Mineral fuels, lubricants, etc. 9
_-. mil. $
Coal and related products
do
Petroleum and products. .
do
1, 552. 5 1, 670. 5
1, 019. 1 1, 052. 0
444.5
518.0
142.0
95.1
40.2
141.0
95.9
40.7
137.8
91.1
39.8
132.3
81.3
44.2
154. 1
102.8
41.8
121.6
65.7
48.0
177.1
119.6
49.9
156.2
105.3
43.1
175.0
105.7
59.6
144.2
67.5
59.2
178.6
116.4
46.4
161.6
90.0
60.5
222.7
145.3
65.5
281.0
Animal and vegetable oils, fats, waxes
do
508.0
684.0
38.0
54.4
58.9
58.9
59.6
66.2
59.1
61.4
77.6
73.7
96.5
100. 9
124. 2
131.7
Chemicals
do
4,132.8
5, 748. 5
443.7
460.1
475.8
467.8
516.5
505.6
553.1
566.9
544.8
604.6
650.2
734.8
774.7
711. 9
do
do
do
do
4,904.1
778.8
825.9
566.8
7, 161. 3
1, 224. 7
1, 300. 8
950.3
565. 5
91.8
98.6
69.0
578. 9
94.2
109.7
64.3
587.0
96.4
102.2
71.2
556.6
89.0
103.2
78.7
607.5
94.9
107.3
87.1
648.8
120.1
106.8
95.8
709.2
127.0
127.4
103.8
731.3
141.0
130.4
109. 7
705.4
134. 5
155. 5
99.0
756.3
140.1
155.2
100.0
795.5
145.0
155.4
98.1
934.3
167.2
186.1
114.2
952. 0 1, 036. 3
171. 2
193.1
135.0
and transport equipment, total
mil. $.- 21, 532. 7 27, 841. 7
2,249.7
2,568.2
2,317.1
Manufactured goods 9
Textiles .
Iron and steel.
___
Nonferrous base metals
Machinery
_
2,049.5 2, 067. 6 2, 319. 4 2,551.0 2, 564. 0 2, 647. 5 2,515.5 2,734.3 3, 376. 3 3, 185. 7 3, 268. 6
Miscellaneous manufactured articles
do
13,236.1 17, 129. 7 1, 360. 9 1,474.2 1, 428. 8 1,383.2 1, 402. 1 1, 433. 6 1,631.9 1, 554. 6 1, 572. 6 1, 640. 4 1,626.3 2, 009. 0 1,929.0
749.6
114.1
987.1
92.6
85.6
84.6
97.0
75.5
120.3
86.6
77.4
76.0
79.0
69.0
86.5
410.0
37.2
488. 9
32.7
42.0
50.5
44.2
41.5
37.0
35.8
57.5
43.5
38.7
39.2
50.6
1,598.9 2, 094. 6
193.9
252. 8
176.3
168. 9
238. 3
182.9
181.0
179.8
181. 5
188.4
169.1
178.2
191.7
3, 697. 8 5, 030. 7
389.6
594.
3
590. 8
429.
9
489
.5
575.
6
521.5
413.8
459.
0
439.3
466.1
397.8
414.1
489.1
8, 296. 6 10,712.1
888.8 1,094.8
875.1 1,107.9 1, 367. 3 1, 256. 7 1,259.0
888.6
885.8
666. 4
665.4
919.0 1,009.3 1, 074. 9
4,799.4 5, 988. 7
572.0
666.8
527. 8
546.3
671.3
521.7
468.
9
543.6
489.
7
544.7
407.7
389.5
620.7
3,189.6 3,950.7
382.9
324.3
477. 9
468.1
500. 6
336. 9
346.1
334.7
371.3
345.4
373.3
308.9
331.0
378.5
Commodities not classified..
do
1,559.5
Machinery, total 9
do
Agricultural.. . __ _ _
do
Metalworking _
__ _. do
Construction, excav. and mining
do
Electrical
do
Transport equipment, total
do
Motor vehicles and parts
do
1,843.5
168.4
146.7
do
do
55, 582. 8 69, 121. 2
5,348.6
5,355.6
6,033.4
5,700.0
do
do
do
do
1,595.3 2, 350. 5
244.9
395. 9
142.2
563. 7
184.2
124.0
124.3
232.8
145. 5
226.3
201.2
187.5
245.9
15,116.9 17,774.5 1, 352. 4 1,515.7 1, 549. 1 1, 567. 0 1, 789. 0 1,502.6 1, 656. 9 1, 566. 2 1, 254. 1 1, 476. 3 1,425.9 1,768.9 2,026.2
1,145.5 1,553.6
165.1
149. 9
96.7
109.8
139. 0
108. 5
116.5
134.3
120.3
200.9
123.0
124.0
175. 0
15,743.9 19, 680. 5 1,529.7 1,723.2 1, 628. 9 1, 668. 8 1, 769. 1 1,402.9 1, 804. 8 1, 960. 8 1, 629. 2 1, 728. 0 1, 705 .3 2, 098. 5 2, 227. 4
14,933.1 17, 452. 4 1, 443. 4 1,667.1 1, 673. 7 1,395.7 1,177.7 1,329.3 1, 648. 3 1,546.3 1,221.2 1, 414. 0 1,396.6 1, 783. 9 1,796.0
3,537.0 4, 987. 5
872.5
435.7
680.0
807.2
357.9
428.3
468.0
577.1
419.2
487.8
418.4
450.8
364.5
3,459.8 4, 340. 8
416.3
752. 2
522.1
839. 4
297.4
343. 1
470.7
601.0
356.4
^07.6
316.0
388. 1
325.5
171.1
193. 2
126.8
147.7
163.8
178.6
150.2
184.1
174.2
197.8
207.8
218. 5
VALUE OF IMPORTS
General imports, total
Seasonally adjusted.
__ .
By geographic regions:
Africa
Asia
Australia and Oceania
Europe _ _ _.
__ _
Northern North America
Southern North America
South America
do
do
do
By leading countries:
Africa:
Egypt
Republic of South Africa
. .
do
do
5,900.7 5,651.8 5, 997. 4 5, 286. 3 6, 373. 3 6, 787. 2 5, 777. 3 6, 649. 6 6,692.3 7,823.2 8,370.8 8, 899. 2
5,765.2 5,821.2 5,991.4 5,621.3 5,968.6 6,627.5 6,083.9 6, 467. 2 7,392.4 7,845.2 8,141.2 8, 406. 6
16.9
324.7
25.9
373.9
2.6
32.3
1.4
31.7
2.2
28.4
1.0
38.5
4.9
27.0
2.5
33.6
3.7
31.9
1.6
34.4
.6
23.5
1.2
19.3
2.6
32.2
.5
43.1
3 8
35.9
Asia; Australia and Oceania:
Australia, including New Guinea _ _ _ _ d o . _
India
do
Pakistan
_
do
Malaysia
do
Indonesia
do
Philippines.,
_ _ _
do
Japan - __
do
819.9
426.6
40.2
301.2
277.8
490.9
9,064.1
1,087.4
434.9
38.8
417.1
442.2
662. 9
9, 644. 8
70.7
29.7
2.5
25.4
30.1
44.6
779.9
76.9
35.9
2.3
40.7
43.8
56.1
812.6
82.5
39.2
1.7
40.0
48.4
55.0
810.9
84.0
33.1
3.4
38.5
32.5
80.9
821.1
123.8
40.8
4.2
38.0
51.4
75.6
944.1
80.3
42.2
3.8
39.5
48.7
71.3
753.4
114.5
41.6
3.1
41.8
44.5
42.3
823.6
146.0
33.5
3.9
41.9
28.9
69.7
895.7
112.1
36.2
3.8
33.5
25.3
50. 9
702.5
109.2
43.2
5.4
44.4
33.1
35.0
836.5
64.6
47.9
6.2
38.3
48.8
57.4
763.0
86.1
41.6
3.6
57.9
112. 8
66.1
808. 2
75.6
39.1
5.3
54.7
159. 5
86.8
951. 3
Europe:
France _ _
East Germany.
West Germany
Italy
... ,
Union of Soviet Socialist Republics
United Kingdom
_ _ _
1,368.6
10.3
4,250.3
1,756.7
95.4
2,987.1
1,715.3
10.5
5,318.2
1, 988. 0
213.7
3, 642. 1
140.9
.6
415.3
138.9
17 8
288.6
153.3
1.1
482. 8
156.6
10.9
317.0
145.7
1.2
460.1
166.8
11.4
298.5
162.3
1.1
470.9
166.7
12.5
300.1
168.7
.9
482.1
208.2
18.7
343.0
121.3
1.0
341.8
141.2
19. 1
259.1
131.9
.9
530.4
155.2
22.8
317.9
157. 9
1.0
514.0
189. 1
26.6
372.1
144.5
.6
382. 9
165.2
28.9
274.1
135.4
1.0
498. 8
190.8
25.4
245. 0
128.7
.4
433.1
235.1
42.7
258.2
164.2
1.3
521.5
248.4
30.8
368.4
189. 8
.9
617.2
935 5
33.3
338.4
do
do
do
do
do
do
North and South America:
Canada. _
do
14,926.7 17, 442. 9 1, 443. 4 1,666.4 1, 672. 8 1,394.5 1, 176. 1 1,327.4 1,647.5 1,546.2 1, 220. 0 1,414.0 1,396.6 1, 782. 8 1, 794. 9
Latin American Republics, total 9
do
5,772.5 7, 600. 1
644.4
853.8 1, 220. 8 1,243.5
569.8
604.9
921. 5
604.1
570.6
700.8
736.2
671.8
710.0
Argentina _
do
201.4
28.5
18.6
26.2
274.1
35.3
22.4
21.2
26.4
17.9
23.6
24.9
27.7
34.7
33.8
Brazil
do
941.6 1, 183. 0
140.4
102.7
124.3
131.8
94.5
77.2
108. 9
74.2
89. 9
126.2
99.0
148. 5
113.0
Chile
do
82.9
31.2
4.9
20.7
45.7
12.1
2.9
1.0
101. 9
6.5
3.8
12.8
25.0
1.5
25.6
Colombia
. do
283.9
52. 1
38.7
45.2
53.8
406. 9
32.8
35.7
34.7
29.4
47.1
33.6
21.9
43.3
43.8
Mexico
do
1,632.2 2, 287. 0
297.
0
189. 5
341.7
251.4
206.6
164.
2
207.
9
193.2
170.8
209.
0
198.0
226.0
218.8
Venezuela
do
1, 297. 5 1,624.8
458 ( *
126.8
248.4
370.6
121.9
128.5
147.2
159. 1
107.8
169.8
164.4
128.3
273.5
By commodity groups and principal commodities:
Agricultural products, total
mil. $.. 6,512.8 8, 450. 0
910. 1
992. 4
787.8
806.9
670.1
725.4
644. 5
709.4
715.6
813. 4
641.8
839. 3
772.0
Nonagricultural products, total
do
49,069.9 60, 671. 2 4, 637. 8 5, 244. 2 5, 230. 7 5, 010. 0 5,272.0 4, 641. 8 5, 657. 7 5, 947. 9 5, 005. 3 5, 836. 2 5, 885 .4 6, 830. 7 7, 460. 7
Food and live animals 9
do
6, 370. 1 7, 986. 2
823.4
910. 4
732.7
743.4
627.1
598. 9
696.9
615.7 c 707. 0
809. 0
725.3
658.5
780.8
Cocoa or cacao beans. .
do
150.9
29.8
38.1
212.0
25.7
24.0
15. 5
14.4
10.1
6.3
14.1
32.7
36.5
3.2
21.6
Coffee
do"""" 1 189 1 1, 565. 9
184.0
194. 2
180.1
153.0
126.1
102. 2
122. 9
145. 2
117.0
127.6
123.8
165.3
124.8
Meats and preparations
do_
1,222.8 1, 668. 0
127.1
159. 3
133.0
135. 9
120.8
175.1
125.7
143.8
156.8
119.8
200.1
185.0
167. 9
Sugar
do
831.6
134.3
124. 7
917. 7
105.0
85.5
69.3
79.9
75.5
86.9
100.5
80.3
39.2
107.6
45.9
Beverages and tobacco
_
do
1, 009. 4 1, 213. 1
113.1
104.1
86.2
102.5
97.3
94.4
91.2
113.7
98.9
91.0
128.0
127.0
100.3
822.6
116.5
Crude materials, inedible, exc. fuels 9
Metal ores
_
Paper base stocks
Textile fibers
Rubber
do
do
do
do
do
3, 859. 8
1,021.6
509.9
195.8
196.2
4, 987. 9
1, 290. 7
676. 9
235.6
344.5
398.3
92.7
50.0
19.2
20.0
443.8
103.6
57.5
23.2
27.0
453. 1
121. 9
51. 9
21.0
29.2
431.3
128.4
55.3
22.1
22.3
408.7
128.5
45.0
20.6
38.9
386.8
99. 9
51.8
15.9
39.1
490.7
148.8
70.1
17.4
42.6
478.7
134.8
79.4
17.4
38.3
383.0
114.5
58.8
14.1
26.3
413.6
102. 5
79. 1
19.0
35.2
387 .9
85.3
78.5
18.5
41.7
Mineral fuels, lubricants, etc
Petroleum and products
do
do
4,799.0
4, 299. 6
8,101.0
7, 548. 5
503.5
463.2
610.6
565.2
604. 3
566.7
554. 9
515.5
776.3
728.8
694.9
648.5
794.7
740.9
908. 3 1, 030. 5
962. 5
860.6
, 304. 9
, 210. 7
,577.0
, 491 .0
Animal and vegetable oils and fats
Chemicals
do
do
179.6
2, 014. 6
254.6
2, 436. 7
13.6
221.3
15.8
213.1
19.8
208.8
18.9
185.8
23.5
206.2
21.2
189.2
25.5
206.1
37.4
216. 2
38.5
208. 2
23.6
200.7
24.5
226.3
35.3
262. 3
40.3
310.4
42.2
333.8
do
11,421.6 13, 198. 3
do
2, 927. 6 3, 008. 6
do
1,053.9 1, 184. 8
do
1, 933. 0 2, 449. 4
do"""" 1, 526. 6 1, 568. 1
9 Includes data not s hown sep arately.
992.9
204.4
100.5
159.1
133.5
968.9 1, 136. 0 1, 239. 6
220. 9
281.7
258.9
83.6
109. 0
93.1
188.4
294. 9
209.5
116. 5
127.5
132.0
,071.3
257.3
97. 4
231.3
115.3
, 094. 8
212.0
123. 9
241. 4
126.0
, 081 .4
218.0
117.3
241.7
121.7
, 312. 8
245. 9
119. 5
375.0
132. 2
, 290. 7
282.6
123.2
304.4
126.2
, 494. 5
Manufactured goods 9
Iron and steel
Newsprint
Nonferrous metals ...
Textiles
c
Revised.
Corrected.
1,179.2 1,114.0 1,192.7 1, 135. 2
243.5
296.2
273.4
279. 5
109. 4
97.4
104.8
80.9
178.9
188.8
186.2
211.2
128.3
136.5
128. 9
137.8
488.0
132. 4
84.0
23.7
53.4
478.6
115.8
93. 5
23.8
44.7
556. 9
, 819. 6 2 292 1 2, 285. 5
, 739. 2 2,211.2
SURVEY OF CURRENT BUSINESS
S-24
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown
in the 1973 edition of BUSINESS STATISTICS
1972
1973
1973
Annual
June 1974
Apr.
May
June
July
Aug.
1974
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
FOREIGN TRADE OF THE UNITED STATES—Continued
VALUE OF IMPORTS— Continued
General imports— Continued
By commodity groups and principal commodities—Continued
Machinery and transport equipment
mil. $._ 17, 420. 1 20, 969. 6
7, 786. 0 9 909.2
Machinery total 9
do
140. 4
187. 9
Metalworking
do
3, 37(3. 7 4,471.1
Electrical
do
1,710.2
806.8
10.9
344.4
1,954.4
853 8
16. 5
377.4
1,918.1 1,700.7 1, 683. 7 1, 507. 6 1, 943. 9 2, 055. 2 1,443.2 1,943.9 1,770.2 1,984.3 2, 120. 1 2, 303. 8
()l'-> 4
865 0
750 4
855 3
710 7
88° 5
765 1
907 2
934 9 1 003 1
994 9
99 0
14.5
20.5
19. 2
14 5
19.6
17 3
15 6
17 7
19 6
19' 1
391.2
446.5
322. 7
419. 1
358. 1
387.0
340 2
403.6
444 5
466 3
421 6
do
do
9, 633. 2 11, 060. 4
7, 946. 1 9, 216. 1
903.3 1, 100. 5 1,053.2
748. 3
896. 2
941.7
84,5. 4
706.7
776 5
608.3
748 2 1 009 0 1, 052. 2
602. 8
884.8
867.2
732.5 1,061.5 1,005 1 1 071 9 1 125 2
922. 0
611.4
882.6
897. 9
929. 5
Miscellaneous manufactured articles
do
6,910.6
8, 184. 0
609.8
649.7
697. 1
720.4
820.0
666.2
781.3
608.3
642.3
640.2
735.6
723. 1
770. 2
Commodities not classified
do
1, 598. 0
1,789.8
141.4
131.6
160.9
153.8
155.6
144.9
160.2
143.4
155.3
144.6
155. 1
170.8
179.0
173. 2
117.6
134.3
158.0
137. 5
165.4
227.5
128.4
166.3
213.6
132.4
175.3
232.1
134. 5
167.5
225. 3
137.6
149. 1
205.2
142. 9
155. 5
141.6
162.5
230. 2
147.1
176.6
259.8
149.2
183.7
274.1
155.3
172. 5
267. 9
r 158.
r
166. 6
264. 3
r
r
162. 7
173. 5
282. 2
166.3
198.0
329. 2
167.3
193.3
323.3
126 1
163 8
206.6
149 6
171 8
257. 1
145.1
164 5
238.6
146 9
183 3
269.2
147 8
178 2
263.3
150 3
167 8
252.2
153 5
174 4
267.6
152.3
154.9
235.9
159. 6
178 2
284. 4
165.0
183.6
302. 9
172. 7
149 3
257.8
T
T
181. 7
163 3
296. 8
r
192. 5
209 8
17-> 9
349. 1
215. 6
173 3
373.6
Transport equipment
Automobiles and parts
Indexes
Exports (U.S. mdse., excl. military grant-aid):
Unit value
_ . _ .-1967 = 100
Quantity
do
Value
do
General imports:
Unit value
do
Value
_ _
_
_
_ _
do
7
r 155 2
298. 7
Shipping Weight and Value
Waterborne trade:
Exports (incl. reexports):
Value
General imports:
Shipping weigh t
Value
230 176
25 520
22 741
2,946
24 391
3 177
24 509
3,182
22 524
3,050
9
mil $
5 983
3,429
21,751
3,356
24,645
3,802
thous sh tons
mil. $
350 845
33, 617
31 522
3,171
38 259
3,680
37 023
3,538
33 479
3,512
44, 749
4,048
37, 583
3,340
38, 740
3,387
. . . .. .
TRANSPORTATION AND COMMUNICATION
TRANSPORTATION
Air Carriers (Scheduled Service)
Certificated route carriers:
Passenger-miles (revenue)
bil_.
Passenger-load factor§
percent. _
Ton-miles (revenue), total^ mil
Operating revenues 9 O
Passenger revenues
Freight and express revenues
Mail revenues
Operating expensesO
Domestic operations:
Passenger-miles (revenue)
.
Express and freight ton-miles
Mail ton-miles
mil $
do
do
do
do
152. 41
53.0
20, 746
118.14
2,667
686
mil $
do. _.
do
8 659
8,158
196
Express and freight ton-miles...
Mail ton-miles
. _ _
mil
do
34.27
1,738
516
Operating expensesO
Net income after taxesO
do._.
do
2 512
2! 420
26
International
operations:A
13.24
51.8
1,796
13.16
50.3
1, 822
11,163 3 1° l)419
9 271 3 10 76
938
271
10 579 3 n ^35
°22
bil
mil
do
Operating revenuesO
Operating expensesO
Net income after taxesO
161.96
52.1
29 °4°
126. 32
9 f)99
687
14.95
55.0
2,008
16.00
54.9
2,088
16. 98
57.5
2, 230
10.11
255
58
11.55
258
55
2.80
148
43
3.05
150
43
3.39
157
43
11.99
55.5
1,736
13.13
56.9
1,826
12. 99
55.0
1,766
P 11. 69 p 1?;78
P 55. 6 p 57. 4
"1,636 p 1,921
p 13. 70
p 57 5
p 1,882
10.13
977
~57
9.77
257
58
10. 58
231
74
10. 26
P 9. 45 p 11.16
v 221
P 254
''53
p 60
pll.08
P 243
p 57
2. 75
187
39
9 29
175
47
2. 55
157
51
2.73
154
35
P ''. 24
p 158
p 35
p 2 62
v 190
p 39
p 2. 62
P 174
"38
27.7
462
27 7
~448
"447
27.7
483
457
534
492
Till
12.00
235
51
12.96
269
56
2 433
2,267
77
35. 64
1, 916
522
12.88
47.8
1,848
p3,431
p 2, 859
p282
P65
p 3, 089
3,111
2 599
260
67
2 923
88
10.44
226
55
13. 15
48.5
1,843
9. 86
256
53
999
~56
p 2, 597
p 2, 375
»95
4.00
162
40
4. 02
164
43
3. 29
180
39
p834
p714
p 75
678
656
11
Local Transit Lines
Passengers carried (revenue)
mil..
27.8
M45
27.8
«-456
Class I Railroads
Financial operations, qtrly. (AAR):
Operating revenues, total, excl. Amtrak© 9 mil. $
Freight
do
Passenger, excl. Amtrak.
do
Operating expenses ©.
do.
Tax accruals and rents . .
do
Net railway operating income
do
Net income (after taxes) ©..
do
27.7
408
94
7, 584
94
' 8, 708
94
2, 109
94
2, 151
94
2, 433
94
2, 294
^58
r 9'-{4.
64
51
67
47
171
189
47
46
50
43
128
142
145
14°
132
136.4
163.4
162.5
163.4
162.2
3. 727
13,440
14,796
3, 482
12, 598
13,794
66
257
259
2, 925
11,571
10, 580
592
2,366
| 2, 030
211
859
830
i 151 I
1 .
.
i 558
t 483
T
2
Revised.
p Preliminary.
i Before extraordinary and prior period items.
Comparison with year-ago data may be affected by the change in reporting actual tonnage carried
instead of billed tonnage, per ther ICC Uniform System of Accounts (1 1,74).
9 Includes
data not shown separately.
Applies to passengers, baggage, cargo, and mail carried.
§ Passenger-miles as a percent of available seat-miles in revenue service; reflects proportion
of seating capacity actually sold and utilized.
OTotal revenues, expenses, and income
27.8
391
°7 8
•• 5, 284
Motor Carriers
Carriers of property, large, class I:*
Operating revenues, total
mil $
Net income, after extraordinary and prior period
charges and credits
mil ^
Tonnage hauled (revenue), common and contract
carrier service
mil tons
Freight carried— volume indexes, class I and II
intercity truck tonnage (ATA):
Common and contract carriers of property
(qtrly.)cf
average same period, 1967=100,.
Common carriers of general freight, seas. adj.
1967 = 100..
27.8
420
27.4
5,290
159.6
413
159.3
162.6
167.7
174.6
170.1
2168. 4
2 167. 2
2 166. 4
484
- 15() 1
3, 939
3,913
3,633
3, 656
3, 634
3, 372
74
66
0
3, 09!)
i 2,990
898
671
1
641
572
168
|
2H2
163
1
97
i 203
i 83
for all groups of carriers also reflect nonscheduled service.
A Effective July 1973, carrier
group referred to as "International": no change in comparability of data.
* New series.
Source- ICC (no comparable data prior to 1972).
cf Indexes are comparable for the identical quarter of each year (and from year to year); see -.
© Natl. Railroad Pass. ( orp. (Aniirak). not included in AAR data above, operations lor 1972 and 1973 (mil.. dol.;;. Operating
revenues, 163; 202; operating expense?, 286; 328; net income, —14*; -n'.i v ^ < - ) .
3
Source: Air Trans{)ori Assn. of Amcr.
SUEVEY OF CUKRENT BUSINESS
June 1974
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown
in the 1973 edition of BUSINESS STATISTICS
1972
1973
1973
Annual
S-25
May
Apr.
June
July
Aug.
1974
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
211.3
366.2
3 69. 3
21.54
66
153
22.48
68
138
287
3,055
TRANSPORTATION AND COMMUNICATION—Continued
TRANSPORTATION— Continued
Class I Railroads— Continued
Traffic:
Ton-miles of freight (net), revenue and nonrevenue
bll
Revenue ton-miles, qtrly. (AAR)
do
Revenue per ton-mile
cents
Passengers (revenue) carried 1 mile .
mil
800.8
776.7
1 616
8,560
878 4
846.8
1.620
9, 298
19.64
63
123
20 42
2
2
2
435 9
218.0
1 607
4, 233
2 442. 5
214.0
2 1 632
25,065
211.2
Travel
Hotels and motor-hotels:
Average sale per occupied room
dollars
Rooms occupied- _ _ ..
% of total
Restaurant sales index same mo. 1951 =» 100
Foreign travel:
U.S. citizens* Arrivals
thous
Departures. ..
do
Aliens: Arrivals. _.
_
__ do .
Departures
_
do
i g 312
5 193
4 310
Passports issued
National parks, visits^
2 728
54 087
do
do
1 Q Qgg
20 53
20.93
70
128
21.04
66
135
73
132
63
123
20.36
46
129
20.35
56
107
21.86
69
153
20.25
65
130
21.09
69
20.39
68
143
20.71
199
9 911
8,758
5, 750
4 905
780
746
451
359
775
787
427
376
790
941
474
418
993
1 172
1 020
761
741
512
470
751
653
495
425
630
573
416
381
594
609
473
414
620
584
475
387
601
587
399
310
2 729
55 406
345
335
148
168
185
245
4 826
132
2,256
108
3 356
1,493
1,295
1,450
1,994
MK)
815
r 193
90
875
192
47
283
64
130
r 9Q 93
r
615
480
870
663
628
306
255
213
152
7 618
10 030
10, 296
5,616
4, 159
63
124
298
4,146
COMMUNICATION (QTRLY.)
Telephone carriers (63 carriers except as noted):
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:
O perating revenues
Operating expenses
.
Net operating revenues (before taxes)
International:
Operating revenues..
Operating expenses.
.
Net operating revenues (before taxes)
m il . $
do
do
do
do
do
23 079
11 261
8 984
14 869
4 032
117 3
4 6 447
4 3 074
4
2,' 570
M 032
4
1, 183
* 120. 2
431 8
349 8
55 1
113 7
93.4
15 7
226 0
163 7
49 4
63 8
44 2
16 2
6,563
3 120
2,621
4,186
1, 195
121. 9
CHEMICALS AND ALLIED PRODUCTS
{
CHEMICALS
Inorganic Chemicals
Production:
Aluminum sulfate, commercial (17% AhOsH
thous. sh. tons..
1,256
Chlorine gas (100% Cl 2 )i
do
9,873
Hydrochloric acid (100% IICDf
do
2,302
Phosphorus, elemental!
do
556
Sodium carbonate (soda ash), synthetic (58%
4,310
Na 2 O).t
thous. sh. tons
r J
Sodium hydroxide (100% NaOH)i.
do
9, 586
Sodium silicate, anhydrousj
do
661
Sodium sulfate anhydrousf
do
1,327
Sodium trypolyphosphate (166% NasPaOw)}
1,033
do
Titanium dioxide (composite and pure) J... do
718
Sulfur, native (Frasch) and recovered:
Production c?
_.. thous. Ig. tons.. '! 9, 240
Stocks (producers') end of periodd"
do
' 3, 796
1,137
10, 303
2,388
525
3,838
94
848
202
49
330
106
886
209
49
337
88
838
196
42
297
96
875
191
42
304
112
866
210
41
338
79
835
188
37
261
108
889
208
44
331
96
882
204
45
328
86
894
191
44
300
92
878
205
47
271
10, 679
727
1,422
882
64
138
928
72
120
870
60
110
904
60
122
895
58
112
868
62
108
913
64
138
913
67
113
924
60
105
903
57
101
r 99
906
61
117
914
772
11
64
81
68
76
63
79
61
76
67
70
61
65
67
71
68
69
65
69
63
76
70
1 10, 021
3, 927
807
3,774
848
3,763
839
3,805
799
3,756
851
3,801
829
3,820
893
3, 903
864
3,876
843
3, 927
805
3, 897
885
-773
' 3, 799 3,809
15, 193
6,881
1,858
7, 981
1,593
6,531
31,300
15,468
6, 954
1,983
7,440
1,982
6, 493
31, 583
1,316
611
157
644
181
567
2, 634
1,353
636
160
661
206
586
2,840
1,324
592
142
622
206
525
2 573
1,254
558
170
611
156
531
2, 559
1,254
568
192
608
164
540
2,758
1,333
569
198
587
151
536
2,514
1,301
561
212
626
164
552
2,603
1,299
573
152
631
170
537
2,672
1,323
613
156
644
167
559
2, 739
1,158
557
201
687
153
532
2, 607
r 1,191
5,482
433
4,913
19, 612
1,123
14, 953
1,353
5,573
325
5, 902
20, 128
1,044
14, 895
1,579
494
233
706
1,770
109
1,391
83
495
233
581
1,518
110
1,141
114
446
298
308
1,540
68
1, 109
146
444
349
220
1,785
88
1 , 295
184
430
363
335
1,798
95
1,276
125
431
340
415
1,639
92
1, 115
192
471
304
592
1,764
69
1,362
120
449
322
577
1,678
100
1, 233
130
454
325
492
1,698
87
1,221
122
419
308
568
1,896
126
1,334
184
r463
r 298
378
264
4,855
111
338
299
5, 899
69
74
46
713
0
37
22
547
3
25
12
305
9
42
265
831
60
856
3,868
Inorganic Fertilizer Materials
Production:
Ammonia, synthetic anhydrous:?
thous. sh. tons..
Ammonium nitrate, original solution J
do
Ammonium sulfatet
do
Nitric acid (100% HNO 3 )J
doIIII
Nitrogen solutions (100% N)t- .
do
Phosphoric acid (100% P 2 O 5 )t
do
Sulfuric acid (100% H 2 SO 4 )t_. .
do
Superphosphate and other phosphatic fertilizers
Production
Stocks, end of period
Potash, deliveries (K 2 O)
Exports, total 9
Nitrogenous materials.. .
Phosphate materials
Potash materials
Imports:
Ammonium nitrate
Ammonium sulfate...
.
thous. sh. tons..
do
"do
do.
"do
do
do
do
do
Sodium nitrate
do
r
Revised.
v Preliminary.
I
Annual total; revisions not distributed to the monthly or quarterly data,
onths ending in month shown.
3 For month shown.
* For 66 carriers.
II Data include visits to Voyageurs National Park effective July 1973.
9 Includes data not shown separately.
2 For six
r573
214
-677
r 147
-530
r 2, 478
567
1,774
75
1,308
120
1,368
663
210
740
179
691
2,603
464
252
675
1,314
48
1,030
100
740
1,731
54
1,414
80
» 585
50
27
21
31
24
13
11
16
15
23
44
25
20
26
29
23
12
23
11
795
752
626
610
601
489
669
295
385
261
13
3
10
3
12
3
16
0
5
0
J Monthly revisions back to 1971 are available upon request.
tt
cf In the footnote of the 1973 BUSINESS STATISTICS a distinction is made between gross
weight" and "sulfur content." However, because the difference is so minute, the Bureau ot
Mines no longer makes this distinction.
SURVEY OF CURRENT BUSINESS
S-26
1972
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown
in the 1973 edition of BUSINESS STATISTICS
June 1974
1973
1973
Apr.
Annual
May
June
July
1974
Sept.
Aug.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
CHEMICALS AND ALLIED PRODUCTS—Continued
CHEMICALS— Continued
Industrial Gasest
Production:
8,370
661
659
Acetylene
..mil. cu. ft . 11, 568
Carbon dioxide, liquid, gas, and solid
1, 380
102
thous. sh. tons
112
1,481
61, 653
4 680
5 010
58 890
HvdroRen (high and low purity)
mil cu ft
225,
557
18,
035
19,
326
193,540
Nitrogen (high and low purity)
do
353, 190 383, 997 31, 627 32,203
Oxygen (high and low purity)
_
do
Organic Chemicals cf
Production:
32.2
2.4
!34 6
Acetylsalicylic acid (aspirin)
mil. Ib
2.4
9. 1
8.9
119.1 i 110. 6
Creosote oil ©
mil. gal
24 5
17.1
Ethyl acetate (85%)
mil Ib 1 !217 2 i 219. 1
511.3
5,500 0 16,173.6
527.7
Formaldehyde (37% HCHO)
do
29 8
29 5
353 0 1 359. 1
Glycerin refined all grades
do
1
79.7
88 7
897 0 1,072.0
Methanol synthetic
mil gal
1
81.9
91.6
936 0 1 1,026.9
Phthalic anhydride
mil. Ib
ALCOHOL*
Ethyl alcohol and spirits:
692 0
Production
mil tax gal
621 3
58 4
58 1
467 9
36 7
38 8
453 0
rp
11
ithrl
Is
do
72. 9
6 6
82 5
5 7
100. 9
87 7
76 9
Stocks end of period
do
97 6
Denatured alcohol:
953 4
91 6
245 9
19 8
x^rocruciion — "•"tvTH
"M
d
""
9
°53 6
246 7
15
19 6
9
at ^
,1 f
• A
-- 9 7
9 1
9 8
5
633
627
650
622
653
663
665
120
4 655
18, 601
31,273
126
4 948
19, 221
32, 328
136
5 654
19, 484
31, 667
116
5 482
19, 203
31, 959
131
5 909
19, 953
34, 092
116
5 647
19, 215
33,035
114
5,801
19, 733
33, 329
3.0
8.7
18.7
524. 5
30 0
94.3
87.3
2.5
8.5
15.0
506. 9
29 9
85.6
80.1
2.4
9.1
21 3
525.1
31 5
94. 5
92.2
2.4
8.4
18.5
503.2
27.6
90.8
85.2
3.0
8.8
15.6
543.8
29.9
83.9
81.3
2 8
8.5
13.1
516.7
30.2
95.3
82. 3
2.6
10.2
15.1
534.7
30.3
88.1
95.6
2.6
8.5
16.4
515.7
30.8
78.6
86.5
2.5
8.9
16.4
510.3
28.8
78.5
78.2
3.1
10.7
15. 9
538.3
30.8
83.2
85.1
55
37
6
89
54
34
5
94
57
39
6
90
4
8
2
9
59 9
38 0
5 8
81.1
62 7
41 8
7 0
82.2
62 2
44 4
6.9
84.9
56.4
36.2
5.6
100. 9
49.9
35.4
6.3
79.7
49 9
38.4
5.6
95.4
45 3
37.4
6.9
87.8
20 3
20 3
2 8
22 5
19. 5
19. 7
2.5
22.6
23.0
2.8
9
5
23 8
23 6
2 8
20 8
20. 7
9 g
22
1
9
21
2 7
149.7
699. 7
183.5
411.6
354 1
147.1
696. 9
185.7
410.0
349 8
161.3
686.1
186.1
395. 8
365 9
165.7
784.6
188.4
362.8
374 9
143.0
710.4
184.6
370. 9
367. 9
145.2
742.5
194.7
388. 3
377.2
143.4
719.2
176.6
153.6
692. 4
178.0
382. 1
374.1
r 145. 9
279. 4
163.6
115.8
301.7
171.3
130.4
274.3
137.6
136.7
240.0
114.6
125.4
r 246. 3
121.3
279. 5
139. 1
140.4
9
8
4
6
20 3
9Q 9
9 (J
2
3
6
3
18 9
19 1
99 7
9
626
631
638
109
103
117
5 719 ' 5, 699
5 954
20, 043 r 18,126 19, 918
32, 684 ' 30,062 33, 465
9 (J
3.2
11.3
15.4
576.7
32.2
101. 9
87.5
1.5
21. 1
3.2
PLASTICS AND RESIN MATERIALS
Production:
Phenolic resins
.
Polyethylene and copolymers
Polypropylene
Polystyrene and copolymers
.._
.mil. lb_. 11 1,680.1
7,629.4
do
1 1,732.3
do
1
do
4,602.0
1 4 288 9
159.1
U,912.3
1
8,451.1 693. 8
12,152.5 . 182.5
i 4,896.3
407.3
i 4 493 4
385 9
172.6
705.8
170.0
418.4
388 8
169.4
682.2
169. 5
420.5
358 7
377.5
730.8
194.3
162.5
723.3
187.5
402.1
400.2
MISCELLANEOUS PRODUCTS
Explosives (industrial), shipments, quarterly
mil Ib
Paints, varnish, and lacquer, factory shipments:
Total shipments
mil $
Trade products .
_ _ ._
, .do ..
Industrial
finishes
do
2 108 7
2 083 7
3 009.2
1, 659. 3
1, 349. 8
3,152. 0
1,673.9
1,478.1
598 5
270.0
147.4
122.6
294.4
161.6
132. 8
297.5
166.3
131.2
272.5
140.3
132.2
489.2
527.9
551.2
197.8
91. 8
106.0
243. 8
115.0
128.8
r 125.
0
311.7
161.5
153.2
ELECTRIC POWER AND GAS
ELECTRIC POWER
Production (utility and industrial), total
mil. kw.-hr__ 1,853,390
Electric utilities, total
By fuels
- By waterpower
do
do
_ do
-
Privately and municipally owned util
Other producers (publicly owned)
Industrial establishments, total
By fuels
By waterpower
do
do
do
do
do
Sales to ultimate customers, total (Edison Electric
Commercial and industrial:
Small light and power§
Large light and power§
1 A Q OQA
9
161 772 160 7 0 149 413 156 519 145 697
1,747,323 1,848,539 139, 306 147,112 158, 812 172, 539 175, 928 156, 304 153, 888 140, 785 153, 276 152,226 141,723 148, 046 137,586
1,474,589 1,576,770 115,231 122, 553 135, 056 150, 099 154, 847 139, 101 135, 620 121,734 127,047 127, 917 115,556 120, 656 110,048
272, 734 271,768 24, 075 24, 560 23, 757 22, 440 21,081 17, 203 18, 268 19, 051 26, 229 24, 309 26, 167 27, 390 27, 538
1,435,599 1,522,995 113,085 121,097 131,667 143, 343 146, 682 131,044 128, 530 115,947 124,023 126, 442 113, 947 119, 281 115, 248
301, 724 325, 543 26,221 26,015 27, 145 29, 197 29, 245 25, 260 25, 358 24, 838 29, 253 25, 784 27,776 28, 765 22, 338
106 067
102, 678
3,389
98, 540
94, 978
3,562
8,517
8, 193
324
8,076
7, 759
8,580
8, 259
8, 546
8,270
8, 175
7, 910
7, 938
7, 694
5, 305
o, 064
919
8,608
8,322
ooc
8, 496
8,186
qi n
8, 494
8,173
391
7,690
7, 394
9
96
8,473
8,154
319
1 577 714 1 703 203 131 897 131,814 139, 014 149,064 154. 594 154,877 145, 715 138, 889 137, 882 143, 201 137, 340 136,116
do
do
361, 859
639, 467
396, 903
687, 235
29, 848
55, 753
30, 838
56, 784
33, 745
57, 542
36, 733
57, 091
37, 704
59, 023
37, 452
59, 514
34, 146
60, 779
32, 180
58, 910
30, 822
56, 482
31,271
55, 695
30, 295
55, 022
30, 049
55, 786
Residential or domestic
do
4 440
511, 423
4 186
554,171
325
41,142
399
39, 102
330
42, 451
324
49, 781
335
52,341
328
52, 303
339
45, 285
346
42, 308
371
45, 198
375
50, 794
367
46, 797
356
45, 080
Street and highway lighting
Other public authorities
do
do
12, 193
43, 190
12,836
42, 340
1,021
3,381
978
3,316
951
3, £91
966
3,687
409
1,002
3,712
477
1,047
3,735
495
1,119
3,567
480
1,177
3, 494
474
1,219
3, 325
464
1, 234
3,377
456
1, 139
3,277
444
1, 119
3,245
482
_
8,111
7, 792
319
Af)f,
Revenue from sales to ultimate customers (Edison
Electric Institute)
mil. $.. 27, 921. 1 31, 662. 9 2, 403. 4 2, 423. 5 2, 592. 6 2, 800. 9 2,891.1 2, 944. 0 2, 758. 7 2, 644. 7 2,679.3 2, 829. 6 2,817.6 2,870.4
GAS
Total utility gas, Quarterly
(American Gas Association):
Customers, end of period, total
Residential.
Commercial
Industrial
Other
Sales to customers, total
Residential
Commercial
Industrial
Other
.
thous. . 43,370
do
39, 776
3,330
do.. _
216
.do
do
49
44, 268
40, 628
3,380
214
46
43, 451
39, 902
3,290
213
46
43, 464
39, 948
3, 261
200
55
44, 268
40, 628
3,380
214
46
17,110
5,148
9 280
8,798
883
16, 276
4, 965
9 9C|g
3,930
1,088
508
8, 164
849
205
3,160
464
286
2,163
247
3, 872
1,169
559
1,963
181
2, 135
734
270
1,035
96
3,248
1,544
548
1,073
83
tril. Btu_.
.do
do
do
do
3,039
12, 488
I9, 976
1,415
6,105
6,231
9 196
491
2 066
1,017
4,078
3,854
115
471
463
r
Revised.
i Reported annual total; revisions are not distributed to the monthly data.
§ Data are not wholly comparable on a year to year basis because of changes from one
classification to another.
d"Data are reported on the basis of 100 percent content of the
Revenue from sales to customers, total., mil. $
Residential
do
Comm >rcial
do
Industrial
do .
Other..
.
do
t Monthly revisions back to 1971 are availspecified material unless otherwise indicated,
able upon request.
©In the 1973 BUSINESS STATISTICS the unit reads "millions of
gallons"; it should read "thousands of gallons."
SURVEY OF CURRENT BUSINESS
.Tune 1974
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown
in the 1973 edition of BUSINESS STATISTICS
1972
1973
1973
Annual
S-27
Apr.
May
June
July
Aug.
1974
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
12.19
10.97
13.17
10.98
9.87
13.56
13.05
11.82
13.92
Apr.
May
FOOD AND KINDRED PRODUCTS; TOBACCO
ALCOHOLIC BEVERAGES 9
Beer:
Production
- - -.mil. bbl__ 141.34
131. 81
Taxable withdrawals
do
12.44
Stocks end of period
- do
Distilled spirits (total):
Production
mil. tax gal__ 183. 79
Consumption, apparent, for beverage purposes
mil. wine gal__ i 393.42
200.44
Taxable withdrawals
mil. tax gal
971. 71
Stocks end of period
do
Imports
mil. proof gaL- 100. 16
Whisky:
Production
_ __mil. tax gal__ 116. 56
130. 10
Taxable withdrawals . _ _ __
do
924. 41
Stocks end of period
- - - do
87.69
Imports
- - - mil. proof gal _.
148. 60
138. 45
12.76
12.86
11.65
14.42
13.83
12.87
14.48
13.09
12.55
14.20
13.76
12.77
14.30
14.17
13. 68
13.81
12.12
11.50
13.58
12.38
11.54
13.52
10.90
10.72
12.93
10.65
10.08
12.76
183.24
16.14
18.31
17.49
9.66
11.77
13.20
16.09
15.72
15.42
16.02
13.83
14.90
404.36
209. 98
939. 70
107. 28
30.44
16.00
971. 86
7.58
33.64
19.36
970. 31
9.30
33.65
17.39
971. 05
8.17
29.64
14.22
965.20
7.12
32.29
18.04
959. 75
7.73
29.48
17.03
954. 16
8.20
36.09
23.96
930. 87
11.36
41.06
21.14
940. 43
13.69
47.13
15.90
939. 70
11.20
29.46
17.76
937. 26
7.32
28.04
15.34
935. 98
7.67
19.66
931. 30
9.93
10.24
108. 38
133. 63
893. 00
92.30
11.18
10.23
926. 58
6.55
11.93
11.96
925. 34
7.95
10.78
10.44
926. 11
6.98
5.34
8.86
922. 29
6.07
6.61
10.62
917. 57
6.68
6.95
11.05
912. 87
7.08
6.77
16.68
888. 11
9.75
7.93
14.32
895.00
11.98
7.54
9.59
893.00
9.66
8.63
10.82
889. 61
6.27
8.16
9.43
888. 16
6.42
8.32
13.06
883. 30
8.54
8.81
120. 30
62.60
114. 16
53.14
9.11
4.42
10.78
5.27
9.70
4.62
7.60
3.48
9.74
4.49
9.47
4.43
12.41
6.52
10.31
4.66
8.51
3.46
10.26
4.10
8.46
3.71
10.58
5.32
21.13
20.36
8.08
1.98
20.50
18.97
8.48
2.02
1.91
1.06
9.88
.14
1.72
1.54
10.00
.15
.85
1.58
9.17
.14
1.26
.90
9.45
.14
1.73
1.15
9.95
.12
1.99
1.56
10.29
.10
2.36
2.81
9.76
.20
2.35
2.67
9.33
.27
1.56
2.25
8.48
.24
1.86
1.26
8.89
.13
1.46
1.01
9.24
.10
1.82
1.34
9.68
.14
.12
301. 16
269.58
350. 88
45.07
437. 46
273. 18
402 37
53.15
10.54
22.87
277. 34
4.42
10.01
24.54
257. 93
5.10
8.83
22.60
236. 95
4.93
8.42
18.19
221. 03
4.86
18.80
21.80
214. 87
4.26
89.49
20.00
275. 43
3.97
146. 64
26.66
386. 66
4.35
86.32
24.64
437. 96
4.90
23.69
22.59
422. 37
4.17
12.98
24.88
406. 51
3.93
8.63
19.72
388 .76
2.07
13.84
26.39
370. 21
3.66
4.78
261. 10
378. 67
1.10
3.41
4.18
1.32
30.24
136. 45
138. 23
35.69
18.78
3.94
4.80
2.20
mil. lb_. U,101.9
107.5
do
.696
__$ per lb._
922.4
46.4
2 .674
93.7
125.1
.624
100.3
139.4
.620
87.6
150.2
.619
69.1
143.8
.639
58.4
113.2
51.3
94.3
62.7
67.5
60.4
54.3
.770
67.5
46.4
.744
80.6
51.5
.708
69.0
50.2
.653
77.4
'58.7
.698
88.1
80.0
.699
mil. lb._ 42,597.7
41,644.3
do.
2 651 2
1, 665. 8
238.8
151.3
261.5
171.7
261.6
172.4
238.1
154.7
218.3
137.6
186.5
110.3
194.3
119.6
200.4
120.9
228.6
141.0
240.1
153.1
232.2
153.6
270.7
181.0
269.1
177.6
392.9
320.2
31.2
395.5
320.6
14.5
382.3
310.5
13.0
371.0
301.1
28.9
356.0
290.0
29.2
357.8
290. 3
29.9
364.2
297.6
37.1
391.7
327.0
54.7
' 438. 0
«• 362. 6
56.6
489. 9
412. 9
18.9
Rectified spirits and wines, production, total
mil. proof gal_ _
Whisky
do
Wines and distilling materials:
Effervescent wines:
Production
mil. wine galTaxable withdrawals
do
Stocks end of period
do
Imports
- do
Still wines:
Production
do
Taxable withdrawals. .
_
do
Stocks end of period
- do
Imports
do
Distilling materials produced at wineries— .do
DAIRY PRODUCTS
Butter, creamery:
Production (factory)
Stocks cold storage end of period
Price, wholesale, 92-score CN.Y.)
Cheese:
Production (factory), total
American whole milk
_ _
331.4
303.4
330.6
374.2
Stocks, cold storage, end of period
do.
357.8
269.4
247.3
271.1
307.5
American, whole milk
.
do
290.3
179.4 3 232. 0
12.2
16.1
20.2
Imports
do
Price, wholesale, American, single daisies (Chi.714
.792
.802
.783
cago)
$ per lb_.
.844
Condensed and evaporated1 milk:
97.4
114.2
114.6
Production case goods o"
mil. Ib
n,183.3 1,081.3
Stocks, manufacturers', case goods, end of month
114.1
74.7
85.4
56.2
or yeard*
mil. Ib
69.2
Exports:
5
2
14.4
.1
Condensed (sweetened)
do
1.0
()
40.5
3.1
4.0
ao
Evaporated (unsweetened)
do
41.4
Fluid milk:
119,904 115, 620 10,321 10,998 10,570
Production on farms. .
-do
460,931
5,352
5,885
5,920
Utilization in mfd. dairy products. _
.do
57, 563
6.40
6.43
6.40
Price, wholesale, U.S. average?
$ per 100 lb._ 46.07
7.14
Dry milk:
Production:
-475.2
8.6
Dry whole milk
mil Ib
9.3
9.3
79.9
4 1,223.5
97.3
121.5
119.0
Nonfat dry milk (human food)
_do
954.5
Stocks, manufacturers', end of period:
3.4
Dry whole milk
do
5.3
9.0
5.1
5.4
37.9
102.2
57.7
81.5
Nonfat dry milk (human food)
do
74.5
Exports:
38.3
6.2
4.6
5.2
Dry whole milk
do
49.7
164.1
Nonfat dry milk (human food)
do
1.0
.2
1.5
10.4
Price, manufacturers' average selling, nonfat dry
.331
.449
.441
.446
milk (human food)..
__$ per lb._
.464
GRAIN AND GRAIN PRODUCTS
Exports (barley, corn, oats rye, wheat) „_ .mil. bu._ 31,789.3 32,896.2
243.6
216.4
282.7
Barley:
6 423. 5 6 424. 5
Production (crop estimate)
do. _
Stocks (domestic), end of period
do
361.8
7 162. 5
321.6
7 88 8
246.2
On farms
do
208.5
7 73 g
115.6
Off farms
do
113.1
Exports including malt§
do
60.6
7.5
7.6
10.4
94.6
Prices, wholesale (Minneapolis):
No. 2, malting
__ _ _
_ _ _ $ per bu
1.23
1.62
1.64
1.72
2.02
No. 3, straight
do
1.23
1.64
1.69
1.61
2.00
Corn:
Production (crop estimate, grain only).. mil. bu._ 6 5, 573 65,643
Stocks (domestic), end of period, total
do
4,831
1,931
4,469
On farms
do
1,366
3,689
3,353
Off farms
_
do
1,141
564
1,116
Exports, including meal and
flour
do
886.2 1,312.3
92.0
92.2
136.6
Prices, wholesale:
No. 3. yellow (Chicago)
$ per bu
2.43
1.30
1.63
2.01
2.19
Weighted avg., selected markets, all grades
9
do...
1.26
2.30
1.65
12
2.02
Oats:
Production (crop estimate)
mil bu
6692
6664
7
Stocks (domestic) end of period total
do
776
634
412
7 231
On farms
do
556
473
Off farms
do
161
220
7181
Exports, including oatmeal
do
25.2
2.5
54.3
7.0
6.9
Price, wholesale, No. 2, white (Chicago)
$ per bu.
91.17
8.85
.95
1.03
r
Revised.
* Preliminary.
»Includes Hawaii; no monthly data available for Hawaii.
2 Average for Jan., Feb., Apr.-July,
Nov., and Dec.
3 Annual total reflects revisions
4
not distributed
to
the
months.
Revised monthly data back to 1971 are available
upon
5
7
request.
Less than 50 thousand pounds.
• Crop estimate for the year.
Previous
years' crop; new crop not reported until beginning of new crop year (July for barley and
.801
.847
.898
.944
.971
1.020
1.050
1.040
1.060
1.050
101.0
99.4
83.9
80.6
69.8
78.7
81.6
77.7
92.4
90.6
133.6
67.1
95.6
89.4
75.2
69.2
54.5
57.5
62.2
76.7
.1
3.0
.1
4.6
.1
1.9
(5)
3.8
.1
3.6
(5)
4.0
10,042
5,229
6.56
9,466
4,753
7.17
8,888
3, 973
7.84
6.4
87.1
5.9
64.0
9.6
100.7
97.2
.621
527.1
448.2
. 979
()
2.5
(5)
3.4
()
3.2
.1
3.9
8,939
4,086
8.30
8,609
3,870
8.65
9,024
4, 219
8.81
9,278
4,719
8.89
8,711
4,540
8.92
9,933
5,299
8.94
10, 084
5,566
'8.85
5.5
51.1
5.2
48.7
4.6
45.1
5.5
60.5
5.7
58.4
6.1
56.0
6.5
75.3
10.9
95.0
8.2
93.3
7.3
84.7
7.6
78.1
7.0
63.5
5.4
74.5
5.9
58.6
7.5
53.7
8.2
58.8
10.0
87.0
3.8
.2
3.7
.2
5.9
.7
1.5
2
4.3
.5
2.4
.4
2.0
.5
2.6
.5
4.1
.4
5.1
.3
.461
.484
.500
.518
.522
.531
.540
.578
.623
.670
262.9
310.1
267.6
237.0
251.5
217.8
202.0
181.7
198.4
184.4
9.8
8.8
423.7
286.1
137.6
11.9
5.8
9.3
321.6
208 5
113. i
7.5
8.2
6.0
122.0
93.4
3.9
5.8
1.79
1.80
2.47
2.44
2.' 60
2.60
2.60
2.52
2.49
2.51
2.51
2.71
2.69
3.17
2.95
3.45
3.41
2.85
2.77
124.3
138.0
7709
7405
7304
112.4
92.3
112.5
4,469
3,353
1,116
112.7
108.1
99.7
2,858
2,008
850
128.0
117.1
2.59
2.98
2.39
2.34
2.53
2.67
2.92
3.10
3.01
2.69
2.73
2.33
2.70
2.40
2.35
2.39
2.58
2.58
3.02
2.95
2.64
2.60
5.7
805
606
199
5.2
5.6
634
473
161
4.8
.8
435
287
148
.5
5.8
9.1
5
1.52
5
.3
10, 784
P8.56
2.77
2.76
3.8
1.33
8
9
oats; Oct. for corn).
Average for July-Sept., and Dec.
Average for April, May, and
Dec.
^Condensed milk included with evaporated to avoid disclosing operations of individual firms. § Excludes pearl barley.
9 Scattered monthly revisions for 1972 will be
shown later.
SURVEY OF CURRENT BUSINESS
S-28
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown
In the 1973 edition of BUSINESS STATISTICS
1973
1973
1972
June 1974
Annual
May
Apr.
June
1974
Sept.
Aug.
July
Oct.
Nov.
Jan.
Dec.
Feb.
Mar.
Apr.
May
FOOD AND KINDRED PRODUCTS; TOBACCO—Continued
GRAIN AND GRAIN PRODUCTS— Con.
Rice:
Production (crop estimate)
mil. bags?..
California mills:
Receipts domestic rough
mil. Ib
Shipments from mills, milled rice
do
Stocks, rough and cleaned (cleaned basis), end
of period
mil. Ib
Southern States mills (Ark., La., Tenn., Tex.):
Receipts rough from producers
mil. Ib
Shipments from mills, milled rice
do
Stocks, domestic, rough and cleaned (cleaned
basis) end of period
mil. Ib
Exports
- do
Price, wholesale, No. 2, medium grain (Southwest Louisiana)
$ per Ib
185.4
i 92. 8
1,774
1,266
2,151
1, 591
272
311
151
123
120
83
93
47
78
80
18
48
274
112
241
115
251
252
236
150
175
148
113
73
135
87
86
109
80
62
61
77
52
8
144
194
109
114
88
92
99
7,472
5,133
6, 021
4, 226
57
313
67
234
41
227
37
259
645
233
1,294
346
2,263
516
809
545
340
366
326
476
327
406
174
331
133
281
1,967
4,447
1,816
3, 583
876
423
672
271
499
159
240
204
435
132
951
215
1, 922
253
1,925
402
1,816
405
1,565
368
1,386
265
1,187
287
993
404
.098
.180
.153
.153
.153
.153
.163
.185
.213
.295
.300
.300
.300
.300
.300
.300
Rye:
Production (crop estimate)
mil. bu
Stocks (domestic) end of period
do
Price, wholesale, No. 2 ( Minneapolis).. $ per bu_.
i 29.2
54.0
1.07
i 26.4
21 5
1.82
1.18
1.27
233.3
1.35
1.52
2.23
36.9
2.92
2.70
2.46
21.5
2.69
3.42
3.43
18.1
3.13
2.38
2.12
Wheat:
Production (crop estimate), total
mil. bu_.
Spring wheat
_ _ _ .. _- _.do
Winter wheat
...
do _ _ .
Distribution
.
_ _ do
i 1,545
i860
i 1, 185
1,695
i 1,711
1442
i 1, 270
2,176
489
701
••514
386
_ do
do
do
1, 399
510
889
936
368
568
2 430
- 125
2 305
1,449
614
835
936
368
568
550
184
366
flour
do
. _ _ - _ do
3 817. 0
3 778. 5
1,403.5
1 379 1
112.0
109. 3
131.1
128.8
128.4
126.1
118.4
115.2
152.8
149.1
135.3
131.6
123.2
122. 1
121.9
120.5
91.6
89.5
85.2
83.1
75.2
72.8
66.0
63.9
57.6
55.7
1.86
1.86
3.43
3.58
2.39
2.55
2.61
2.64
2.75
2.79
3.06
2.81
4.49
4.71
4.84
5.09
4.50
4.72
4.50
4.78
4.98
5.23
5.47
5.70
5.88
5.78
5.50
5.25
4.45
4.19
1.87
3.64
2.45
2.62
2.77
3.22
4.92
5.34
4.87
4.91
5.38
5.96
6.27
5.93
4.75
249, 265
4,301
555, 269
19,310
327
42, 792
20, 603
354
45, 808
19,771
342
43, 765
20,068
348
44,681
21, 893
380
48, 889
21, 589
373
48,111
21, 982
385
49, 258
20, 657
359
46, 272
20, 972
356
46, 912
21,993
383
48, 882
20, 141
350
45, 015
20, 760
364
46, 063
18, 532
326
41, 503
5, 505
13, 456
1,134
977
5,393
993
1,352
1,596
4,174
1,607
483
612
5,505
912 """914
1,015
5,297
904
832
8.734
8.454
7.325
7.163
7.313
7.038
7.875
7.738
7.738
7.538
10. 280
9. 388
10.600
10. 463
9.913
9.863
10. 225
10.113
11.525
11. 075
12. 975
12.913
13. 313
13. 150
12.700
12.490
10. 188
9.738
2,421
32, 266
1, 808
30, 521
139
2,169
131
2,694
117
2,563
118
2,441
115
2,366
128
2,362
168
2,866
170
2,687
156
2,519
181
2, 793
155
2,303
180
2,621
172
2,643
35.49
38.89
46.88
44. 21
49. 61
57.19
44.61
60.67
57.80
45.83
50.79
57.50
46.66
49.38
61.40
47.77
53.23
59.30
53.13
56. 40
67.50
45.05
49.73
56.40
41.33
49.84
53.40
39.56
47.63
57.50
38.63
44.42
56.50
47.28
48.70
58.50
45. 72
45.30
60.50
41.98
43.65
59.00
40.81
42.49
58.50
78, 759
72, 264
5,992
6,638
5,711
4,996
5,569
5,348
6,613
6,534
5,859
6,804
5,584
6,568
6,877
26.58
39.70
35.12
35.82
37.66
45.69
55.28
42.96
41.28
39.89
38.37
39.27
38.39
34.35
29.95
25.43
21.9
18.7
21.0
20.4
18.8
18.6
16.0
15.5
14.3
13.1
12.7
10.7
Stocks (domestic), end of period, total
On farms
Off farms
Exports total including
Wheat only
Prices, wholesale:
No. 1 , dark northern spring (Minneapolis)
$ per bu_.
No. 2, hd. and dk. hd. winter (Kans. City) .do
Weighted avg., selected markets, all grades
$ per bu..
Wheat flour:
Production :
Flour
thous. sacks (100 Ib.) 250, 441
Offal
thous. sh. tons
4,303
557, 801
Grindings of wheat
thous bu
Stocks held by mills, end of period
4,746
thous. sacks (100 lb.)..
Exports
do
16, 549
Prices, wholesale:
Spring, standard patent (Minneapolis)
$ per 100 Ib.
6.534
Winter, hard, 95% patent (Kans. City)._do._.
5.867
H,531
4.29
3.63
4.62
9,838
9,188
LIVESTOCK
Cattle and calves:
Slaughter (federally inspected):
Calves
_
. _ thous. animals
Cattle
•
do
Prices, wholesale:
Beef steers (Omaha)
$ per 100 Ib.
Steers, stocker and feeder 0 (Kansas City)__do_.
Calves, vealers (Natl. St ckyards, I l l . ) _ _ d o . _
Hogs:
Slaughter (federally inspected). ..thous. animals.
Prices:
Wholesale, average, all grades (Sioux City)
$ per 100 Ib.
Hog-corn price ratio, (bu. of corn equal in value
to 100 Ib. live hog)
Sheep and lambs:
Slaughter (federally inspected). .^thous. animals..
Price, wholesale, lambs, average (Omaha)
SperlOOlb.
22.2
21.3
24.7
20.3
39.49
37.24
51.00
9,905
9,234
690
858
727
807
844
789
915
747
612
749
612
772
783
30.13
36.71
34.50
36.25
38.00
39.25
41.50
33.38
31.75
34.75
37.50
38.38
40.38
37.50
39.75
35, 632
33, 513
2, 51L
2,992
2,747
2,561
2,567
2,549
3,140
3,004
2,810
3,157
2,576
3,029
3,086
670
614
2,012
830
759
1, 972
707
75
149
698
74
166
675
66
143
588
49
153
505
57
209
525
53
159
643
72
207
770
62
184
830
70
156
864
58
171
864
51
137
'960
60
168
1,006
56
142
20, 522
380
54
1,461
19, 490
459
81
1,471
1,364
373
1,624
334
1,515
252
1,850
324
1,823
476
12J
161
118
128
1,483
460
8
93
1,731
'499
167
1,740
403
10
139
1,651
459
102
1,566
308
6
116
1,482
26L
Ifr
1,696
347
7
119
117
1,727
485
5
99
.577
* . 696
.719
.710
.728
.749
.713
.671
.648
.670
.767
.770
.688
.670
.666
515
16
488
If
38
13
47
16
38
16
42
14
40
13
47
16
39
15
33
15
40
12
34
12
43
14
42
14
17
47.25
MEATS
Total meats:
Production (carcass weight, leaf lard in) , inspected
slaughter i
mil Ib
Stocks (excluding lard), cold storage, end of
period ._
mil. Ib
Exports (meat and meat preparations)
do._.
Imports (meat and meat preparations) _ do
Beef and veal:
Production, inspected slaughter]:
do...
Stocks, cold storage, end of period
do___
Exports _
__
. . do
Imports
do.._
Price, wholesale, beef, fresh, steer carcasses, choice
(600-700 Ibs.) (East Coast)
$ per Ib
Lamb and mutton:
Stocks, cold storage, end of period
Pork (including lard),
slaughter!
production,
do
inspected
mil. Ib.
1,086
1,250
1,110
14,594
13, 53(
Revised.
* Crop estimate for the year. 3 2 Previous years' crop; new crop not reported
until July (beginning of new crop year).
Annual total reflects revisions no'it distributed
r
42
1
1,021
476
1,317
1, 255
1,293
1,060
1,225
1,126
994
1,243
953
1,04
5
to the months.
* Average for Jan.-July and Sept.-Dec.
June 1 estimate of 1974 crop.
9 Bags of 100 Ibs.
jScattered monthly revisions back to 1971 are available upon request.
SURVEY OF CURRENT BUSINESS
•Tune 1974
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown
in the 1973 edition of BUSINESS STATISTICS
1972
S-29
1973
1973
Annual
Apr.
June
May
July
Aug.
1974
Sept.
Nov.
Oct.
Dec.
Jan.
Feb.
Mar.
Apr.
May
1 101
4
40
1 166
405
g
32
417
909
.752
.720
834
.706
FOOD AND KINDRED PRODUCTS; TOBACCO—Continued
MEATS— Continued
Pork (excluding lard):
Production, inspected slaughter. mil. l b _ _
Stocks, cold storage, end of period do
Exports
do
Imports
_
_
do
Prices, wholesale:
Hams, smoked composite
$ per lb_.
Fresh loins, 8-14 Ib. average (New York). _ do
POULTRY AND EGGS
Poultry:
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 lb_.
Eggs:
Production on farms
mil. casesO_Stocks ,cold storage, end of period:
Shell
thous cases O
Frozen. _
._ _ _
mil. Ib
Price, wholesale, large (delivered; Chicago)!
$ per doz_.
12,551
11,874
286
169
398
976
248
31
37
1 079
259
29
37
940
252
14
35
839
201
6
30
924
179
4
34
882
196
6
30
1 094
224
14
37
1 074
277
§
36
992
286
5
30
1 143
303
5
34
940
307
3
36
.810
.818
.764
.737
722
.737
.745
.730
.794
.883
1.045
1.167
.839
.866
.784
.957
.765
.818
937
.815
.859
10, 883
10, 649
717
878
909
946
1,025
905
1,105
990
847
933
766
806
832
324
9
08
431
9
81
180
91
173
88
228
137
290
199
355
261
460
351
577
451
466
321
431
°81
424
268
392
943
••380
r 226
382
216
214
105
395
.626
.645
1
r 351
398
917
.134
.241
.250
.235
.235
.300
.370
.330
.215
.185
.180
.200
.230
.210
.195
.195
193.2
184.9
15.7
16.0
15.1
15.3
15.2
14.8
15.4
15.1
15.8
15.7
14.3
16.0
15.5
15.8
34
43
37
46
39
44
73
46
54
48
62
49
86
53
72
54
67
49
34
43
23
38
42
36
r 59
68
r 39
66
44
71
49
.380
.610
.519
.505
.582
.651
.769
.700
.646
.678
.728
.750
.695
.621
.542
.445
Cocoa (cacao) beans:
Imports (incl. shells)
thous. Ig. tons.
Price, wholesale, Accra (New York)
$ per lb..
282.2
.322
248 0
.636
29.0
.525
29 3
.614
17 0
.674
15.8
.870
9 9
.790
5 4
.758
2 8
.805
11 1
.770
27 6
.651
28 9
.648
21 1
.738
31 7
.830
21 9
1.085
1.168
Coffee (green):
Inventories (roasters', Importers', dealers'), end
of period
_•_._ thous. bagscf-Roastings (green weight)
do
3,663
20, 075
4,146
19, 415
Imports, total
do
From Brazil
_ _.
do
Price, wholesale, Santos, No. 4 (N.Y.)..$ per lb._
Confectionery, manufacturers' sales
mil. $_.
20 757
6 152
2.544
1,976
21 799
4 606
.676
2,141
2 050
331
.650
154
2 494
475
.650
143
1 710
494
.670
135
.765
415
459
263
270
291
4,896
6,700
1,262
4,934
6 556
1 218
281
617
120
212
592
137
11, 528
11,415
2,710
11 539
11, 482
2,608
892
886
2,831
sh. tons
778
3 946
thous. sh. tons
do
do
5,154
1 246
76
5 200
3 i 566
29
41
MISCELLANEOUS FOOD PRODUCTS
Fish:
Stocks, cold storage, end of period
...mil. lb_
Sugar (United States):
Deliveries and supply (raw basis) :§
Production and receipts:
Production
thous. sh. tons
Entries from off-shore, total 9
..
do
Hawaii and Puerto Rico
_ .._ do
Deliveries, total 9
For domestic consumption
Stocks, raw and ref., end of period
Exports, raw and refined
Imports:
Raw sugar, total 9
From the Philippines
Refined sugar, total
do
do
do
Prices (New York):
Raw, wholesale
$ per lb
RefinedRetail (incl. N.E . New Jersey) ... $ per 5 lb
Wholesale (excl. excise tax)..
._.$perlb-_
Tea imports
thous lb
4,582
4 275
4,325
4 784
4,933
5 056
4,146
5 153
1 731
411
.700
183
1 399
348
.725
233
1 624
489
.723
227
1 624
420
.730
234
1 652
282
.720
180
2 182
459
.720
211
2 022
272
.710
r
220
9 457
364
.750
236
2 264
567
.755
324
336
364
411
453
459
451
435
427
p410
168
648
140
112
707
103
77
408
92
135
587
138
663
597
197
1,019
581
81
915
356
86
563
663
38
386
474
32
293
432
47
534
30
988
984
2,604
1 063
1,058
2,291
1 027
1,025
2,040
1 203
1,197
1,454
1 026
1,022
979
942
938
1,251
890
888
1,902
919
918
2,608
959
957
2,488
867
864
2,509
134
137
313
239
286
196
999
439
349
587
3 969
475
139
2
506
168
418
153
448
262
5
566
215
5
393
°85
220
24
550
82
244
500
94
I
(*}
1 573
' 211
.700
114
I
Q
Q
461
52
(4)
C4)
o
924
921
2, 493 p 2, 243
r
6 086
554
140
o
(*}
4 168
509
161
(i\
091
103
097
100
103
102
108
109
112
111
112
122
155
195
195
228
.704
.123
775
.133
736
.133
751
.127
767
.127
775
.132
779
.137
803
.137
821
.141
840
.150
860
.128
868
.143
896
.161
1 024
.200
1 159
.200
.248
151,495
173 314
14 107
17 423
12 425
13 660
12 614
12 527
16 878
16 506
11 997
11 675
14 974
16 583
17 177
3 445 2
114 6
275 3
136 8
291 6
120 6
262 5
137 3
240 4
120 4
294 7
86 2
261 9
95 2
338 2
97 6
301 1
111 5
290 9
114 6
330 0
104 7
290 1
118 3
305 6
r 14.fi O
280 7
156 8
3 927 7
74 1
306 2
92 6
354 3
90 9
352 3
112 2
287 1
72 3
330 4
52 2
288 3
63 8
327 8
62 2
348 8
66 3
399 9
74 1
381 0
76 5
343 8
79 5
r 101 1
9 357 o
61 2
184 3
66 6
200 1
68 2
168 3
69 7
151 7
57 4
187 7
47 1
185 7
58 4
224 1
60 2
217 9
59 3
9J4 8
61 2
943 1
55 3
995 7
63 0
.340
.317
.324
.327
.327
.348
.367
.373
.381
.381
.415
.429
544 8
633.6
45.3
474 7
548 7
40 4
32 4
44 9
28 3
39 5
44 3
26 9
39 6
41 7
22 8
34 q
36 2
22 2
27 1
36 7
20 8
35 8
35 g
18 7
50 9
50 4
25 7
52 7
43 3
37 6
42 7
45 2
40 4
44 0
50 9
52.8
37 0
51 5
33.7
4 834 3
2, 761. 6
346.1
4 335 1
2, 540. 3
355. 6
312 3
205.3
336. 3
375 9
231.1
313. 4
352 0
206.8
32fi 2
345 5
191.4
370 3
335 3
199.6
363. 5
320 2
197.0
328 .4
404 3
229'. 9
389.1
390 2
208. 9
370.1
384 7
197.3
355.6
416 5
234.6
407.7
343 5
202.3
407.9
FATS, OILS, AND RELATED PRODUCTS
Baking or frying fats (Incl. shortening):
Production...
mil lb
3 532 5
Stocks, end of period©
do
127 3
Salad or cooking oils:
Production
_
do
3 904 8
Stocks, end of period©
do
85 6
Margarine:
Production
_
do
2 361. 2
Stocks, end of period©.
do
69 3
Price, wholesale (colored; mfr. to wholesaler or
large retailer; delivered)
$ per lb_.
.313
Anlmal and fish fats:
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 If
_
"do
2
••Revised.
^Preliminary.
1 Average for Jan.-Sept., and Nov.
Average for Apr.J une and Aug.-Dec.
3 Reflects revisions not available by months.
* Less than 500
sh.tons.
©Cases of 30 dozen.
cTBags of 132.276 lb.
§ Monthly data reflect cumulative
revisions for prior periods.
9 Includes data not shown separately; see also note "§".
r
r
372 i
213 4
337 3
88 5
r 74 4
191 0
76 1
.455
.455
46. 9
54. 3
'37.2
46.4
51.9
34.0
398. 3
r 224. 5
" 389. 8
395.5
225.2
393.2
r
r
r
r
.462
©Producers' and warehouse stocks.
^Factory and warehouse stocks.
fBeginning
June 1974 SURVEY, prices are for cartoned, white, shell eggs to volume buyers, delivered
to store door, Chicago metropolitan area, and are not comparable with those shown previously.
Comparable data back to 1969 are available.
SURVEY OF CURRENT BUSINESS
S-30
1972 |
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown
in the 1973 edition of BUSINESS STATISTICS
1973
June 1974
1973
Annual
Apr.
May
June
July
Aug.
1974
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:
Coco nut oil:
Production, refined
mil. Ib
Consumption in end products __
_do .
Stocks, crude and ref., end of period f
do
Imports
_
._
- _ -_
do
593.0
824.9
229.1
677.0
Corn oil:
Production: Crude
do
Refined
do
Consumption in end products
_ do
Stocks, crude and ref., end of period^!
do
507.2
464.5
463.7
76.8
r
604.1
879.0
105.9
716.9
54.2
71.0
181.0
36.7
62.5
82.1
183.4
61.3
54.0
78.2
166.6
43.7
44.2
64.7
148.4
41.9
47.5
68.2
140.4
64.1
46.6
73.8
114.3
29.8
51.4
83.3
79.0
46.7
35.2
66.1
102.7
64.8
43.2
62.3
105.9
74.6
42.7
70.1
101.4
24.3
529. 2
529.5
508.7
45. C
40.6
40.4
40.2
79.5
'47.5
41.0
39.5
88.4
45.9
44. 1
41.7
91.2
45.8
44.1
37.4
92.1
44.3
41.9
45.4
71.9
43.8
42.6
42.6
56.6
45.2
50.7
49.8
54.4
42.4
45.0
44.1
43.4
43.1
48.5
41.2
45.0
45.1
51.0
51.5
42.2
141.8
128.9
73.7
220.6
40.9
190
136.3
126.0
88.1
232.5
63.7
.210
108.4
99.1
80.5
215.8
55.3
.2^3
92 9
76.8
69.5
190.0
39.0
87.8
102.7
66.1
18 1.6
23.8
56.2
66.6
52.3
114.4
43.2
120.6
89.0
70.2
124.5
22.6
.250
169.8
117.2
75.1
161.6
24.9
.220
149.0
123.3
84.0
158.0
38.2
.300
176.9
134.9
84.3
202.4
28.8
.320
1,078.3
168.1
948.7
141.8
1,424.9
195.7
1,638.5 1,651.3
245. 6
206.3
1,699.6
211.5
510.5
538.8
569.3
620.1
37.0
439.8
502.3
522.7
515.5
45.2
676.8
575.5
616.4
531.5
12.9
.309
70, 213 81,897
26, 113 23,216
4,409
56, 617
25,434
53,510
10, 532
47,633
42, 384
4,215
39, 115
21,805
52, 704
23, 013
5 005
58, 502
576
3,814
7,897
52, 420
479
4,194
3,832
39, 985
339
2,960
4,833
53, 261
418
2,889
4,407
48, 910
380
3,730
5,563
48, 003
405
3,637
3,791
Cottonseed oil1.
Production* Crude
- do _
Refined
do
Consumption in end products __
do
Stocks crude and ref end of period U
do
Exports (crude and refined)
do
Price wholesale (N Y )
$ per Ib
1,355.2 ••1,541 5
1,133.6 1, 330. 2
712.0
864.5
187.4
158.0
475.4
545. 0
3
.159
.157
Soybean cake and meal:
Production
thous sh tons
Stocks fat oil mills), end of period
do
16, 993. 1 16, 223. 5
180.5
245. 6
1,324.3
169.4
1,406.2 1 189. 1 1,009.0
156.5
158.5
166.0
8, 083. 7
6, 464. 0
6, 748. 7
896 6
1, 148. 7
131
7, 540. 2
6,462 6
6, 724. 9
690 5
874.3
3
206
618.3
611 8
621.2
1 0048
49.3
174
655.8
538.9
681.8
900.1
111.8
189
553.1
514.2
534.3
822.7
90.3
226
11 749
1 i 738
40, 122
19, 069
40, 593
21,650
4,196
54, 580
21, 565
4 469
43, 525
403
3,133
4 913
56, 821
506
4,391
4 857
46, 122
442
3,544
Soybean oil:
Production: Crude
mil Ib
Refined
do
Consumption in end products
do
Stocks crude and ref end of period ^f do
Exports (crude and refined)
do
Price wholesale (refined* N Y )
$ per Ib
T
470.1
428. 9
464.2
748 7
81.5
764.9
595. 8
619. 2
599. 9
31.7
.219
30 2
48.9
62.7
60.7
90.0 ' 108. 5
45.0
25.3
••45.4
39. 9
••39.9
••60.7
46.7
34.1
34.1
73.3
150.2 »• 160. 4
118.2 *• 125. 5
73.4
77.1
177.9 r 198. 8
79.0
52.3
.345
.365
145.3
128.8
75.6
200.1
56.3
.380
41.8
42 8
38.0
51.5
r
400
1, 590. 9
1,606.9 •1,728.8
243.4 r 325. 9 318.5
797.7
660.3
668.6
623.3
122.2
.287
769.8
591. 7
578.7
690. 5
108.6
.302
39 6
62.7
96.1
48.2
751.5 ' 809. 0
609.0
589.5
588.6 r••634.1
642.4
626. 0
120.2
98.3
.304
.374
750.8
567.2
572.7
727.3
146.0
.278
.312
TOBACCO
Leaf:
Production (crop estimate)
mil Ib
Stocks, dealers' and manufacturers', end of period
mil Ib
Exports incl scrap and stems
thous Ib
Imports incl scrap and stems
do
4 409
4 700
606 176 2 612 980
240,609 268, 585
43 573
20, 904
46, 192
25, 603
4 039
45, 321
19, 045
Manufactured:
Consumption (withdrawals):
Cigarettes (small):
Tax-exempt
Taxable
Cigars (large) taxable
Exports, cigarettes
_
47 172
551 016
5 896
34, 602
4 821
44 693
485
4,226
3 988
52,042
507
2,642
4 237
50 757
483
2,917
millions
do
do
do
58 225
588 019
5 553
41, 543
11,738
LEATHER AND PRODUCTS
HIDES AND SKINS
Fxports:
Value total 9
thous $
Calf and kip skins
thous skins
Cattle hides
thous hides
Imports:
Value total 9
131
1 340
9 4.no
33 474 25 441
113
' 209
1 411 1 266
23 731 24 077
117
135
1 155 1,100
25 636
139
1,229
30 958
138
1,463
29 359
154
1,412
27, 892
151
1,391
29 025
144
1,423
31, 212
169
1,500
31, 751
337
1,462
31, 642
184
1,567
3 900
791
57
6 800
1 468
40
6,500
1,308
16
.610
.241
.610
.263
136
1, 389
147
1 437
1,433
1,122
1,060
1,187
10 163 10, 407
11,917
c 179.8
165.4
165.4
65 200
83 900
do
3,355
1 600
237
8 700
l' 219
272
7 900
804
52
8 600
1 598
83
6 900
1 157
113
4 600
540
55
4 400
684
27
5 200
562
84
3 800
494
16
4 600
765
65
563
296
(329
343
610
383
610
363
610
338
610
363
610
383
610
.355
.610
.363
610
.328
.610
.282
.610
.293
1 262
1 603
20 084 f 17 768
3 522
14 534
20 191
103
122
r i 479 r i 429
105
r 1 "^10
9c i
r 1 Sgg
122
1 437
110
1,374
129
1,445
1,115
1 fi 8^9
$ per Ib
do
LEATHER
Production:
Calf and whole kip
thous skins
Cattle hi de and side kio
thous hides and kios
Goat and kid
thous skins
Sheep and lamb
do
Exports:
Upper and lining leather
qr» QCO
thous $
Goat and kid skins
Prices, wholesale, f.o.b. shipping point:
Calfskins packer heavy 9H/15 Ib
Hides steer heavy native over 53 Ib
292 023 376 999
2 Q64
1 886
17 689 16 867
thous so ft
Prices, wholesale, f.o.b. tannery:
Sole, bends, light
index, 1967—100
Upper, chrome calf, B and C grades
index 1967—100
a
117 556
4
1 9 8*^
•I
ftrj
77
1 374
2 190 1Q4
117
r 1 632
124
r 1 5gg
81
r 1 150
r
257
1 418
248
141
1 380
968
1,087
991
1,134
1,104
1,076
12 618
10 873
8 154
10 353
9 919
10 184
6 459
9,563
194 2
166 8
166 8
187.0
179.8
179.8
179.8
179.8
31 939
39, 187
45 206
38 573
33, 966
38, 380
39, 869
42, 015
33 447
7,731
686
151
157 5
6 184 5
194 2
106 7
7 119 5
124 2
526 500
488 326
41 513
077 71 Q
q-i OQC
Q9
do
do
do
98 272
8 726
2 053
98 245
10 129
9 233
41 678
09 5g4
8 059
860
175
41 669
•4-1 7 tU\A
9 094
943
237
8 169
842
do
i 2 253
3 599
264
284
128.6
140 7
140.1
r
9, 984
r
.850
.263
165.4
LEATHER MANUFACTURES
Shoes and slippers:
Production total
thous pairs
Shoes, sandals, and" play shoes, except athletic
Slippers
Athletic
Other footwear
Exports
Prices, wholesale, f.o.b. factory:
Men's and boys' oxfords, dress, elk or side
upper, Goody ear welt
index, 1967=100
Women's oxfords, elk side upper, Goodyear
welt
_
index, 1967=100
Women's pumps, low-medium quality.-.do
T
125.7
5 127. 0
134 2
8 122. 1
135.5
130.4
33 079
9,724
924
244
29 252
8,886
867
182
33 590
10,411
927
278
28 345
9,107
914
207
27 310
5,756
737
163
31 116
6,359
780
152
32 127
6,965
629
148
335
312
357
320
406
370
312
246
321
412
299
140.1
140.1
140.1
140.1
140.1
142.6
146.1
146.1
147.4
147.4
152.1
153.9
153.9
135.5
121.1
135.5
121.1
135.5
121.1
135.5
121.1
135.5
121.1
135.5
121.1
135.5
121.1
135.5
121.1
136.8
123.8
136.8
123.8
138.0
123.8
140.5
126.7
143.0
126.7
9Q1
Revised.
i Crop estimate3 for the year.
J Annual total reflects revisions
not distribu4
ted to the monthly data.
Average for Jan.-June and Oct.-Dec.
Average for Jan.July and Oct.-Dec.
s Jan.-Aug. average.
43 971
9= 535
5 745
569
89
201
7
6 Average for Jan.-July and Sept.-Dec.
Jan.-Apr. average.
8 Apr.-Dec. average.
9 Includes data for items not shown separately.
If Factory and warehouse stocks,
c Corrected.
SURVEY OF CURRENT BUSINESS
June 1974
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown
in the 1973 edition of BUSINESS STATISTICS
1972
1973
1973
Annual
S-31
Apr.
May
June
July
Aug.
1974
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
LUMBER AND PRODUCTS
LUMBER— ALL TYPES 9
National Forest Products Association:
Production, total
mil. bd. ft_. ' l 38,254 ••137,890
«• 6, 813 ' 6, 579
Hardwoods
do
' 31, 441 ••31,311
Softwoods
__do
Shipments total
Hardwoods
Softwoods
. ._ _
__do
do
do
Stocks (gross) , mill, end of period, total — do
Hardwoods
- _.do
Softwoods
do
3,272
510
2,763
3,290
491
2,799
3, 207
549
2,658
3,038
580
2,458
3,456
631
2,825
3,250
631
2,618
3,453
682
2,771
3,057
571
2,486
2,710
511
2,199
2,741
468
2,272
2,945
518
2,427
3,191
534
2,657
3,386
f 1 39,390 ' 1 37,629
620
"7,231 ••6,680
' 32, 159 ' 30, 949 2,766
3,351
563
2,788
3,264
544
2, 720
3,044
534
2,511
3,402
582
2,820
3,096
578
2,518
3,312
628
2,683
3,008
593
2,415
2,623
535
2,088
2,647
496
2,151
2,850
529
2,321
3,219
521
2,698
3,896
222
3,674
3,835
150
3,686
3, 765
152
3, 613
3,758
198
3,561
3,813
248
3,565
3,967
301
3,666
4,108
355
3,753
4,157
334
3,824
' 4, 413
M80
* 3, 933
4,499
443
4,056
4,596
435
4,161
4,568
448
4,120
r 4, 152
••581
'3,571
'4,413
'480
' 3, 933
1,390
9,428
1,959
9,537
194
837
201
931
174
899
152
823
181
623
204
1,453
192
764
141
780
129
640
163
634
145
547
186
700
188
721
9,242
617
8,978
679
783
731
692
643
813
636
803
726
736
622
715
670
682
632
745
616
666
679
631
701
626
692
790
727
785
688
8,983
9,191
735
9,116
8,916
935
814
804
893
769
780
882
792
820
854
682
713
823
814
840
797
722
667
852
769
720
901
760
761
900
638
603
935
644
609
970
691
635
1,026
759
755
1,030
835
824
1,041
405
111
294
637
176
462
76
27
49
79
39
40
53
13
40
47
10
37
56
16
40
68
24
44
63
13
50
37
11
26
42
14
28
60
19
41
46
12
34
76
12
63
73
22
51
144. 27
181.86
197. 22
209. 91
192. 13
180. 93
180. 19
190. 27
176. 11
170. 43
170. 26
159. 25
163.06
181.51
186.18
mil. bd ft
do -
i 8, 539
435
i 7, 697
405
644
525
726
556
656
546
609
528
690
550
564
497
576
412
617
441
472
405
571
423
627
507
718
540
do
do .
18,337
18,525
i 7, 847
i 7, 727
643
680
705
695
649
666
628
627
689
668
644
617
684
661
618
588
557
508
599
553
573
543
670
685
Exports, total sawmill products
Imports, total sawmill products
do
do.-.
SOFTWOODS
Douglas fir:
Orders new
Orders, unfilled, end of period
mil. bd. ft
do
._
Production
_
Shipments
_ _
Stocks (gross), mill, end of period
do
do
do
Exports, total sawmill products
Sawed timber
Boards, planks, scantlings, etc
_ _
do
do .
do
Prices, wholesale:
Dimension, construction, dried, 1" x 4", R. L.
$ p e r M bd. ft_.
Southernplne:
Orders new
Orders, unfilled, end of period
Production
Shipments
Stocks (gross), mill and concentration yards, end
of period
mil. bd. ft
179.03
1,028
1,148
1,004
1,014
997
998
1,019
1,046
1,069
1,099
1,148
1,194
1,224
1,209
M bd. ft_.
64,456
94, 346
10, 020
8,803
9,580
7,946
9,696
11, 037
8,826
6, 365
5,973
7,077
5,675
6,155
10, 575
Prices, wholesale, (Indexes):
Boards, No. 2 and better, 1" x 6", R. L.
1967=100..
Flooring, C and better, F. G., 1" x 4", S. L.cf
1967=100..
154.7
198.2
188.4
195.0
204.9
201.4
214.1
217.6
217.7
218.8
215.6
210.6
207.4
207.7
212.8
207.8
140.8
186.2
169.9
178.6
200.1
185.9
192.4
211.0
211.0
214.3
214.3
215.4
215.4
220.8
231.8
231.8
10, 756
555
10, 452
556
877
602
901
552
885
551
949
631
957
627
872
592
918
584
748
568
698
556
748
657
803
716
842
688
878
654
do
do
10, 395
10, 563
10, 498
10, 451
934
904
971
951
882
886
857
869
970
961
924
907
937
926
798
764
729
710
651
647
755
744
841
870
938
912
do
1,214
1,261
1,167
1,187
1, 183
1,171
1,180
1,197
1,208
1,242
1,261
1,265
1,276
1,247
1,273
130. 91
179. 62
212.59
243. 95
228. 13
197. 73
160. 65
155. 33
154. 98
155. 90
168. 99
193. 90
190. 23
204.37
234 .99
268.2
11.6
178.3
5.1
13.3
5.0
15.1
4.0
16.2
6.0
13.2
6.3
17.4
5.5
14.9
5.5
15.7
4.8
13.7
5.5
9.3
5.1
14.4
5.1
8.8
3.9
10.5
3.4
9.6
2.6
244.8
261.1
6.6
188.0
184.6
8.2
15.1
15.9
3.8
15.8
16.6
3.7
14.6
15.3
3.2
12.6
11.6
3.6
18.9
18.1
4.4
15.4
15.0
4.5
18.5
16.4
6.1
15.4
13.4
7.7
13.6
10.8
8.2
16.2
14.3
10.1
13.0
9.5
12.6
13.6
11.2
15.0
13.0
9.6
16.7
Exports, total sawmill products
Western pine:
Orders, new
Orders, unfilled, end of period.
Production
Shipments
___
mil. bd ft
do
_
_
Stocks (gross) , mill, end of period
.
Price, wholesale, Ponderosa, boards, No. 3,1" x
12", R. L. (6' and over)... ._ $ per M bd. ft
231. 32
HARDWOOD FLOORING
Oak:
Orders, new
Orders, unfilled , end of period
mil bd ft
do
Production
Shipments
Stocks (gross) , mill, end of period
do
do
do
METALS AND MANUFACTURES
IRON AND STEEL
Exports:
Steel mill products
thous. sh. tons..
Scrap
do
Pig iron
do
Imports:
Steel mill products
Scrap
.
Pig iron
.
do
do
do
2,873
7,383
15
i 4, 052
11, 256
15
340
751
2
1,202
1
323
1,057
2
343
1,130
1
324
1,234
1
281
1,025
3
374
757
1
388
600
1
473
675
2
455
859
3
448
884
2
503
703
13
533
698
31
627
826
17, 681
373
653
15, 150
391
459
1,051
33
59
1,604
46
71
1,229
51
53
1,380
39
45
1,316
36
36
1,075
20
41
1,235
33
24
1,313
21
55
1,092
20
31
827
24
13
830
20
10
892
22
15
971
15
22
1,142
i 51, 184
41,670
93,371
8,169
57, 301
43, 121
101, 462
6,990
5,013
3,693
8,846
7,843
5,099
3,856
9,039
7,792
4,810
3,668
8,495
7,789
4,539
3,356
7,832
7,878
4,725 . 4,570
3,433
3,357
8,107
8,288
7,460
7,912
4,948
3, 909
8, 938
7,321
4,732
3,783
8,542
7,266
4,473 r 4, 724
3, 515 ' 3, 544
8,219 '8,516
6,990 r 6, 730
4,241
3,327
7,673
6,606
p 4, 775
p 3, 980
p 8, 646
p 6, 748
372
Iron and Steel Scrap
Production
Receipts, net
Consumption
Stocks, end of period
thous sh tons
do
do
do
Prices, steel scrap, No. 1 heavy melting:
Composite (5 markets)
$perlg. ton..
Pittsburgh district
do
49.65
52.92
34.65
44. 57
55.95
52.50
38.00
55.50
57.40
44.50
T
Revised.
p Preliminary.
*Annual data; monthly revisions are not available.
9 Totals include data for types of lumber not shown separately.
d" Through March
94. 22
79.60 102. 20 115.40 127 .63
77.53
80.48
52.95
52.95
56.28
65.89
85.00
82.00 101. 50 117. 50 117.50
77.00
56.00
58.50
55.50
80.50
64.50
1971 data are for flooring, B and better, F.G., 1" x 4", S.L., beginning April 1971, they are
for flooring, C and better, F.G., 1" x 4", S.L.
SURVEY OF CURRENT BUSINESS
S-32
1972
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown
in the 1973 edition of BUSINESS STATISTICS
1973
1973
Annual
June 1974
Apr.
May
June
July
Aug.
1974
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
75, 434
78, 287
35, 761
'87,214
90, 665
43,331
5,982
6,635
2,863
9,046
10,414
3,977
8,940
10, 404
4,577
8,617
11,066
4,353
8,911
10,868
5,071
8,496
10, 342
4,233
8,197
9, 631
5,577
6,321
7,876
4,705
5,977
6,448
3,080
5,528
2,979
3,199
5,075
2, 445
1,780
5,789
2,532
2,010
6,099
5,931
2,766
112, 303
119, 937
2,095
132, 905
137, 073
2,747
9,058
11,404
215
14,419
11,771
16^
14, 363
11, 408
331
15,657
11, 636
371
14,940
11,645
425
14, 194
11,077
400
14, 240
11,672
310
12, 151
11,491
215
10, 968
11,848
121
5,096
11, 676
94
4,427
10, 479
36
5,151
11, 267
38
7,943
10, 991
152
67, 352
i 14, 679
50, 061
2,612
59, 461
10, 418
45, 990
3,053
52, 371
23, 561
27, 582
1,228
53, 499
22, 096
30, 230
1,173
55, 301
20, 642
33, 204
1,455
57, 006
18, 196
37,231
1,579
58,415
16, 125
40, 524
1,766
60, 291
14,383
43, 641
2,267
61, 609
12, 949
46, 209
2,451
60, 705
11,394
46, 869
2,442
59, 461
10, 418
45, 990
3,053
54, 889
12, 727
39, 241
2,921
50,915
15, 368
33, 189
2,358
47, 132
18, 525
27, 073
1, 534
44, 229
18, 791
24, 047
1,391
949
916
101
99
58
85
72
51
127
41
51
56
41
81
27
Pig iron:
Production (excluding production of ferroalloys)
thous. sh. tons__ i1 88, 942
89, 140
Consumption
~~.
do
1,660
Stocks end of period
do
100, 837
100,300
1,203
8,490
8,526
1,415
8,809
8,931
1,358
8,468
8,571
1,295
8,516
8,506
1,372
8,282
8,290
1,335
8,087
7,941
1,285
8,588
8,466
1,241
8,402
8,114
1,207
8,386
8,563
7,804
8,609
8,184 ' 8, 624 7,806 p 8,459
P 996
1,079
1,203 ' 1, 162
8,233
71. 38
75.24
75.89
75.89
75.89
75.89
75.89
75.89
75.89
75.89
75.89
75.89
77.44
82.81
96.00
1,140
15, 328
8,301
1,666
17, 099
9,148
1,339
1,437
746
1,383
1,550
815
1,447
1,500
815
1,493
1,312
727
1,521
1,360
800
1,547
1,367
752
1,559
1,570
876
1,592
1,446
754
1,666
1,228
683
1,748
1,379
751
' 1, 750
••705
1,748
1,388
810
96
961
579
147
1,031
617
116
88
51
118
96
57
124
88
52
131
77
49
138
82
50
140
80
48
139
95
57
130
84
50
147
71
42
142
84
51
144
'75
'47
147
82
50
12, 788
122.3
13, 174
121.9
12, 488
119.4
12,290
113.8
12,182
112.7
12,229
117.0
12,876
119.2
12,586
120.4
12,722
117.7
12,726
117.8
11,598
118.8
444
157
131
471
162
136
535
164
140
602
122
102
689
150
126
729
147
124
796
174
147
899
180
139
929
174
137
996
174
142
'1,057
'167
'136
1,130
191
157
U.S. and foreign ores and ore agglomerates:
Receipts at iron and steel plants
do _
Consumption at iron and steel plants
do
Exports
do
Stocks, total, end of period
At mines
At furnace yards
At U.S. docks .
do
do do
do
Manganese (mn. content), general imports
1
do
Pig Iron and Iron Products
Price basic furnace If
.
$ per sh. ton._
3
Castings, gray iron:
Orders, unfilled, for sale, end of period
thous. sh. tons_.
Shlpments total
do
For sale
do
Castings, malleable iron:
Orders, unfilled, for sale, end of period
thous sh tons
Shipments, total
do
For sale
do
' 1, 239
96.00
Steel, Raw and Semifinished
Steel (raw) :
Production
thous. sh. tons.. 133, 241 1 150,799
104.5
Index _
. daily average 1967=100.
118.5
Steel castings:
Orders, unfilled, for sale, end of period
929
317
thous. sh. tons__
Shipments, total
do
1,596
1,896
For sale, total
do
1,308
1,569
12, 758 ' 12, 442 P12.761
118.1
119.0 P118. 1
Steel Mill Products
Steel products, net shipments:
Total (all grades)
thous sh
By product:
Semifinished products
Structural shapes (heavy) steel piling
Plates
Rails and accessories
9,163
10, 023
9,657
8,703
9,422
8,905
9,892
9,445
8,670
9,779
8,714
10, 303
9,698
do
do
do
do
4,917
5,656
7,553
1,601
i 5, 749
7,081
9,678
1,689
460
604
785
146
540
672
847
156
477
619
806
143
424
596
786
125
479
622
853
119
493
584
801
126
475
671
879
145
510
618
851
148
507
582
867
130
504
630
908
153
470
552
841
153
513
703
1,034
166
492
646
961
157
Bars and tool steel, total
Bars* Hot rolled (incl light shapes)
Reinforcing
Cold
finished
do
do
do
do
* 15, 518
9,299
4,454
1,675
i 18, 170
i 10, 763
i 5, 135
i 2, 161
1,522
937
396
179
1,660
977
481
192
1,578
952
434
184
1,419
829
418
164
1,531
890
445
187
1,470
864
422
175
1,649
939
496
205
1,545
902
447
187
1,412
806
444
153
1,592
945
447
189
1,454
842
428
174
1,703
999
483
211
1,677
969
490
208
Pipe and tubing ...
Wire and wire products
Tin mill products _ _
do
do
do
7,609
2,952
6,135
9,133
3,245
7,316
737
293
483
818
292
586
785
286
629
708
240
594
791
273
626
729
266
565
864
292
609
822
252
578
795
209
543
802
276
733
770
253
671
908
297
636
843
295
668
Sheets and strip (incl. electrical), total,
Sheets: Hot rolled
Cold rolled
do
do
do
i 39, 862
14, 036
16, 123
49, 370
16, 886
20, 377
4,134
1,388
1,744
4,453
1,449
1,908
4,334
1,439
1,801
3,812
1,320
1,521
4,128
1,394
1,679
3,871
1,290
1,606
4,307
1,489
1,730
4,120
1,440
1,683
3,625
1,300
1,459
4,182
1,503
1,697
3,550
1,278
1,416
4,343
1,525
1,764
3,959
1,344
1, 629
do
do
do
do
118, 598
9,299
5,055
18,217
22, 705
11,405
6,459
23, 217
5 842
2 980
1 721
6 153
5,580
2,917
1,651
5,611
5,961
2,953
1,628
5,361
6,145
3,059
1,709
4,681
2 2, 079
2 1, 128
2575
2 1, 461
do
do
do
do
2,730
5, 396
6,616
125, 894
3,228
6,351
7,811
1
30 254
842
1 628
1,870
7 806
775
1,507
1,903
7,087
841
1,609
1,852
7,802
903
1,741
2,230
8,323
2301
2598
2719
2 2, 838
8.8
68.0
69.2
11.2
83.6
81.2
9.0
6.7
6.6
9.5
7.5
7.0
9.7
7.2
7.0
9.9
6.5
6.3
10.0
7.0
6.9
10.7
7.1
6.4
10.7
7.4
7.4
11.0
7.2
6.9
11.2
6.2
6.0
11.7
7.3
6.8
11.9
6.4
6.2
11.9
'7.1
'7.1
P 11.8
p 6.5
p 6.6
do
8.6
8.7
8.5
8.4
8.0
8.4
8.6
8.2
7.7
8.1
8.7
8.5
'8.1
8.7
Producing mills:
In process (ingots, semifinished, etc.)
do
Finished (sheets, plates, bars, pipe, etc.) -do
11.3
10.2
9.7
7.4
10.2
9.0
10.0
9.0
10.0
8.0
10.0
7.9
10.0
7.6
9.9
7.5
9.5
7.3
9.3
7.0
9.7
7.4
9.4
7.2
9.2
7.0
<8.6
6.2
By market (quarterly shipments):
Service centers and distributors
Construction, incl. maintenance
Contractors' products
Automotive
Rail transportation
Machinery, industrial equip., tools
Containers packaging ship materials
Other
tons
Steel mill products, inventories, end of period:
Consumers' (manufacturers only) _ _ mil. sh. tons__
Receipts during period
do
Consumption during period
do
Service centers (warehouses).
' Revised,
available.
J
1
91, 805 1111,430
1
v
Preliminary.
i Annual data; monthly or quarterly
revisions are not
c
For month shown.
3 Average for 11 months.
Corrected.
v 8.3
p 5.9
^Effective May 1973 SURVEY, prices are in terms of dollars per short ton.
S-33
SURVEY OF CURRENT BUSINESS
June 1974
1972
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown
in the 1973 edition of BUSINESS STATISTICS
1973
Annual
1974
1973
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Mar.
Feb.
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 A
Plates, sheets, etc
Exports:
Metal and alloys, crude
Plates, sheets, bars, etc
4 122
1, 045
4,530
1,060
371
90
380
99
373
90
382
81
374
87
372
82
388
92
379
86
399
79
403
84
376
79
419
do
do
646.4
80.9
507 6
57.3
43 1
4 6
44 7
50 7
4 8
34 6
4 3
36 0
4 9
33 0
38
46 0
36
35 1
35
36 5
30
30 5
34 7
5.6
do
do
108.3
154.0
229 6
215.1
12 4
19 4
11 1
17 0
10 3
17 3
14 1
15 1
16 4
15 7
29 8
18 7
31 2
20 5
47 o
20 8
22 8
20.4
.2645
.2533
.2500
.2500
.2500
.2500
.2500
.2500
.2540
.2625
.2725
1
Price, primary ingot, 99.5% minimum_..$ per l b _ _
Aluminum products:
Shipments:
Ingot and mill prod, (net ship.)
Mill products, total
Sheet and plate.
Castings
.. .mil. Ib . 11,877.6
do
9,246.2
.do
4,767.9
do
1,858.6
Inventories, total (ingot, mill prod., and scrap),
end of period
mil. Ib
4,861
Copper:
Production:
1, 664. 8
Mine, recoverable copper
thous. sh. tons
1,873.2
Refinery, primary
do
1,680.4
From domestic ores do
From foreign ores
do
192.8
383.0
Secondary, recovered as refined, qtrly.-.do_ .
22.8
24.0
.2900
.2900
.2924
.3150
1 209.6 1,194.1 rl,295.2 'I 190.7
986. 7
902 6
905 6
907 2
537. 3
484.4
482 9
489 0
167 9 r 149 o
140 7
164 6
160.5
4 544
4 504
4 423
4 375
4 366
4 276
1, 726. 9
1, 833. 2
1, 663. 0
170.2
444.0
150.4
158 1
143.1
15 0
152.1
168 7
153 7
15 0
147
163
147
16
130 5
145 0
1329 8
I 2
142 6
137 2
127.5
9 8
140.9
135 1
121.3
13 8
154.3
154. 1
141.4
12 7
141
150
141
9
8
8
6
2
141.9
143 7
129 8
13 9
121.0
134.6
147.1
132.4
14.7
423.6
189.8
425.6
199.9
27 9
12 7
31 5
16 2
21 5
10 4
36 4
12 2
21 1
80
9
109
42.3
17 1
57 4
30 3
36.7
21 7
267.7
182.7
342.0
189.4
29 4
17 7
24 0
13 5
31 2
18 3
48 9
19 7
36 3
18 4
28 5
16 2
26.0
15 9
24 7
13 6
21.7
11 9
2,230
271
114
'2,411
157
108
.5124
.5949
3,016
2,647
767
3,317
« 3, 031
618 9
616 6
600.3
636.9
39 3
56.8
56 1
59 1
43 4
56 3
51 4
45 7
55 7
52.9
51 3
47 3
53 6
51 4
48 7
51 5
344.6
1,485. 3
280.5
1, 483. 7
16 5
121.7
22 1
123 7
21 3
124 0
36 5
99 7
28 4
123.1
13 3
122 2
11 9
136 3
168 0
157. 5
127 4
126 3
134 3
154 2
144 7
147 2
64 5
i us 5
27. 1
117 5
32 9
117 1
34 7
118 7
33 1
120 3
21 8
131 0
25 2
128 7
27 7
119 3
1
66 3
.1503
78.6
. 1628
64 9
.1602
68 8
.1648
64 3
.1650
64 2
.1650
64 2
.1650
70 7
.1650
4 216
52, 451
20, 180
1
2, 199
1
69, 033
i 53, 506
4 480
45, 845
i 19 800
i 1,610
73 500
57, 770
16
3,547
1 755
155
6 310
5 040
1,466
11 766
1.7747
3,741
9 620
2. 2748
95
9 270
2. 0244
478 3
475 9
36 9
1
1
5
4
3
1
113
'648
.6008
.6008
.6008
.60C8
.6008
867
564
489
Q
Q
4 083
1 705
4 858
1 290
6 465
5 185
6 230
4 850
5 910
4 955
3,622
1 900
165
5 630
4 460
51
8 1 ^x.
2.0911
158
291
2. 1227
2. 3755
Aft
QC
I
160
o A3n
o
150
4ft
ft
12 1
53 4
16 2
49 8
Consumption (recoverable zinc content):
Ores
Scrap, all types
do
do
i 118. 3
i 292. 1
158.7
290.1
15 1
22 3
14 9
25 6
I9 5
24 8
11 5
23 0
c o
28.4
13 1
22.6
9 5
24.6
10 0
609
145
87
57 6
50 3
53 2
54 8
58 4
54 9
52.7
20 5
198 4
19 6
117 3
19 4
130 9
18 1
121 7
93 i
125 3
24.9
154 3
156 7
157 5
160 9
165 6
168 9
23 5
108 4
21 8
m
i
27 1
117 5
21 7
113 4
21 8
120 9
94 7
133 8
21.6
71 5
.1650
72 2
. 1650
78 6
.1772
90 8
.1898
86 °
.1900
91 8
.1953
. 2149
1 019
3 739
l' 410
' 135
5 785
4 485
2 637
1 600
165
6 650
.6016
496
6 255
5 145
175
42 8
19 0
50 3
20.4
53 1
48 2
4.9 S
20 6
40 7
44.3
19.2
.6637
4.1
1 430
1 570
145
5 950
4 535
306
55
4.4.Q
5*095
3 309
5 900
4 695
6 160
4 995
160
1 39')
1 214
584
3. 0099
2. 9814
3. 5154
oo 9
49 fi
on q
41 9
40 2
19 8
59 i
18 7
36.8
12 3
52
9
40 7
11 8
48 2
13 7
47 3
15 4
56 2
11 7
24 6
12 7
25 2
12 7
26.4
9
14 3
6 0
13 2
95 4
19 i
95 8
9
48 6
6 8
eft
51 1
5 9
135 2
48 (6
5 )
118 0
1.3
3.3
49 6
5 7
105 5
4. 5
44 7
5 7
118 0
3. 1
7
6 2
o
1.2
m
3,151
512
43 1
5 7
109 3
3. 6
1 346
O
.2150
509
2,435
2. 6244
15 7
51 5
mi
1.5
508
1 797
1 550
24 3
49 4
q 8
.8146
833
40 9
18 0
38 8
65.9
33 8
8.2
.3150
731
202
8 860
2. 4591
199. 1
588.7
47.1
25 5
.6858
5 820
4 580
113
42.7
23.8
.6858
2 615
1 795
O P,A.z,
141.3
149. 5
129.2
20 3
.6858
3 193
1 285
160
145.2
145.0
130.1
14.9
129.0
6
.6875
2. 4023
254.9
522.6
1.0
190
138 3
121.4
16 9
r 130.
157
108
- •>
.6008
249
10 795
2. 4345
do
do
Slab zinc: §
Production (primary smelter), from domestic
1
cq 9
X7 o
K.4 1
633. 2 '•541.3
and foreign ores
thous. sh. tons_ft
A
1
r
fi 4.
5 0
73.7
87.
5
Secondary (redistilled) production
do
1 98 °.
Consumption, fabricators.
_ _ do _. 1 1,418. 3 1, 488. 9
.4
.4
.6
14.6
Exports
do
4.3
Stocks, end of period:
22 2
28.1
24.6
120.3
121.2
Producers', at smelter (ZI)O
do
120 9
110 9
114 0
i 126 1
104 9
.2032
.2031
.2039
. 2066
Price, Prime Western
$perlb..
.1775
T
Revised.
* Preliminary.
i Annual data; monthly revisions are not available.
A Effective Jan. 1974 includes items not covered for earlier periods: Aluminum-—pipes,
tubes, blanks, etc.; copper—imports of alloyed refined, and exports of ores, concentrates,
blister, etc.
§ All data (except annual production figures) reflect GSA remelted zinc and
zinc purchased for direct shipment.
.6008
3.2
4 290
'607
705
178
5 474
1 725
190
55
739
810
195
775
107
516
153
90
180
98
Imports (general) :
Ores (zinc content)
Metal (slab, blocks)
30.4
20.0
4 574
Stocks, end of period:
Producers', ore, base bullion, and in process
(lead content) ABMS
thous sh tons
Refiners' (primary), refined and antimonial
(lead content)
thous sh tons
Consumers' (lead content)^
do
Scrap (lead-base, purchased), all smelters
(gross weight)
thous sh tons
Price, common grade, delivered- .
$ per Ib
Zinc:
20 9
16.0
4 547
do
do
Exports, incl. reexports (metal)
do
Stocks pig (industrial) end of oeriod
do
Price, pig, Straits (N.Y.), prompt. ___"__ ~$~perlb"
1,242.7 1 117.6 1 ,203.4 1 185.4 1 336.5
954 9
886 3
918 1
969 3
880 1
498.2
467.5
480.8
506 8
462 6
173 °
155 3
138 3
162 6
181 8
22.0
20.9
4 561
Lead:
Production:
Mine recoverable lead
thous sh tons
Recovered from scrap (lead cont )
do
lg tons
do
do
do
do
do
1,182.4 1,262.9
910 2
973 4
479. 1
517 7
172 7
180 0
41. 1
4,622
Consumption, refined (by mills, etc.) qtrly..do
Stocks, refined, end of period. . _. .
do
Fabricators'
do
Price, electrolytic (wirebars), dom., delivered
$ per Ib..
Copper-base mill and foundry products, shipments
(quarterly total) :
Brass mill products
mil Ib
Copper wire mill products (copper cont ) do
Brass and bronze foundry products
do
Tin:
Imports (for consumption) :
Ore (tin content)
Metal, unwrought, unalloyed
Recovery from scrap total (tin cont )
As metal
Consumption total
Primary
p5, 741
2,026
3.4
4,366
Imports (general):
Refined, unrefined, scrap (copper cont.) do
Refined A
do
Exports:
Refined and scrap A .
do
Refined
do
Imports (general) ore (lead cont ) metal
Consumption total
Pl4, 438
no, 902
48 6
3.7
3.6
ft9f>
3. 8943 ~4~4077~ 4. 5688
13 1
70
45 7
6 3
116 8
22.9
17.6
18.8
25.1
29.8
29.7
29.3
31.6
27.4
32.3
25.1
122. 9
109. 9
111.5
104.9
101.8
106.7
115.1
117.8
116 3
.3482
.3478
.3264
.3190
.3117
.2736
.2035
.2037
.2034
.2034
.2031
& Includes secondary smelters' lead stocks in refinery shapes and in copper-base scrap.
O Producers' stocks elsewhere, end of May 1974, 4,000 short tons.
c
Corrected; 1st quarter 1973, 785 mil. Ib.
SURVEY OF CURRENT BUSINESS
S-34
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown
In the 1973 edition of BUSINESS STATISTICS
1972
1973
1973
Annual
June 1974
Apr.
May
June
July
Aug.
1974
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
116.2
148.9
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 9
mil. $
Electric processing heating equip
do
Fuel-fired processing heating equip
do
Material handling equipment (industrial):
Orders (new), index, seas, adj
1967=100..
Industrial trucks (electric), shipments:
Hand (motorized)
. number.
Rider-type
do
Industrial trucks and tractors (internal combustion
engines), shipments
.- number-
75.4
110.3
79.3
12.8
41.3
128.6
19.9
75.8
128.4
do
do
- - do
do
.. . do
Tractors used in construction:
Tracklaying total
units
mil. $..
units. .
mil. $—
Tractor shovel loaders (integral units only) , wheel
and tracklaying types
units
mil. $..
Tractors, wheel (excl. garden and contractors' offhighway types)
units
mil. $..
Wheel (contractors' off-highway)
84.6
166.5
119.7
84.0
97.2
133.3
131.1
33.8
4.1
23.2
32.8
62
18.9
126.3
35.0
4.9
20.8
136.0
32.2
6.8
15.5
190.3
186.7
174.0
168.0
186.5
209.6
207.4
217.0
220.4
222.5
196.5
197.0
15,482 21,387
16,902 « 21, 917
1,740
1,860
2,001
2,055
2,155
1,947
1,621
1,361
1,765
1,737
1,890
1,876
1,775
1,745
1,682
1,919
1,669
2,288
1,535
1,763
1,536
1,554
2,032
2,316
1,946
2,031
40,698
4,260
4,654
4,865
3,568
3,869
4,484
4,652
4,325
4,903
6,025
5,553
7,636
6,540
144.2
147.7
148.0
154.0
156.8
153.7
156.6
164.6
166.7
171.3
171.0
172. 0
178.5
135.4
140.0
143.4
144.8
154.4
146.8
144.2
149.9
142.9
149.9
148.9
149.5
159.6
127.35 168.70 184.05 160.80
111.45 138.80 165.35 138.45
76.90 95.75
98.45 86.35
85.65 75.90
64.85 79.45
,165.9 1,238.9 1,324.5 1,399.0
179. 25
122.55
124.50
112.35
,453.7
169.55
144.95
84.10
72.50
1,539.2
174.05
149.25
95.85
86.30
1,617.4
56.95
49.65
41.25
38.20
615.4
50.00
45.60
44.80
39.35
620.6
41.80
39.85
38.50
34.85
623.9
45.75
38.05
37.95
33.05
631.7
52,014
Industrial supplies, machinery and equipment:
116.3
149.7
New orders index, seas, adjusted... 1967-69 =100..
Industrial suppliers distribution:
120.3
139.6
Sales index, seas, adjusted!
1967=100..
Machine tools:
Metal cutting type tools:
Orders, new (net), total
mil. $-. ,008.95 1,825.45
877.25 1,550.40
Domestic
do
Shipments, total
. . ..do _- 714. 45 1,073.75
Domestic
do
627.15 935.05
Order backlog, end of period
do
702.0 1,453.7
Metal forming type tools:
Orders, new (net), total. - .Domestic
Shipments total
Domestic
Order backlog, end of period..
108.7
403.05
368.20
304.25
267.20
260.5
787.20
717.20
427. 25
388.05
620.6
159.95 154.85
145.90 139. 55
76.30 100.60
68.80 84.55
972.2 1,026.4
80.95
74.45
30.60
28.60
425.8
70.95
66.50
38.25
35.30
458.5
133.20 131. 30
110.00 108.20
72.65
102. 90
63.15
90.40
, 056. 7 1,115.4
78.20
74.15
42.05
39.85
494.6
61.55
53.50
36.40
32.40
567.1
58.30
52.50
33.85
29.35
541.9
71.40
64.45
38.80
32.45
599.7
254.25 243. 75 234.05
215.55 218. 10 206.35
129.30 123.00 118. 95
111.05 108. 15 P104.00
1,742.4 1,863.2 pl,978.3
' 66. 80
'56.80
'47.60
'40.80
'650.9
5,719
174.7
1 419
2 55 5
5,506 31,760 31,638 32,384
166.2 356.5 356.2 374.5
31,133
245.2
14,627
259.2
12,578
225.1
12,580
215.3
61,111
382.6
46,304
304.9
50,691 3.6 19,751 3 16,718 3 22,200
348.8 3.8138.9 3115.0 s 154. 5
21,225 124,872
'546.0
15,056 25,729
i 198. 5 «223.4
6,467
192.8
2 21, 747
67 7
53,616
951.9
196,988 i 212,072
1,141.0 i 1,322. 8
46,052
1
901.7
52.90
48.40
30.05
27.45
517.4
2
164.4
41.70
36.95
42.80
39.05
649.8
p 49.85
P 40.75
P51.20
P 43.30
p 648.5
ELECTRICAL EQUIPMENT
Batteries (auto, replacement), shipments
thous..
Motors and generators:
New orders index qtrly
1967=100
2,503
43,220
2,631
2,807
2,915
4,120
4,525
4,629
3,607
3,070
2,920
3,952 «3,860
3,141
2,976
* 3, 427
2,435
3,321
1,535
1,453 * 1, 494
1,024
1,327
* 1, 655
1, 258
1,188
2,576
494.7
242.8
200.7
234.6
450.3
195.7
400.8
295.8
799.5
3,318
655.7
297.2
227.9
269.5
556.1
293. 9
479.0
319.2
4,830
129.6
Radio sets, production, total marketed
thous.. 20,086
Television sets (inch combination models), production, total market cf
thous. . 13,507
50, 198
2,916
3,860 <3,990
3,067
3,935 «6,303
3,870
17,367
1,189
1,341 « 1,778
1,018
1,424
* 1, 778
Household major appliances (electrical), factory ship
ments (domestic and export)* 9
thous..
Air conditioners (room)
do
Dishwashers
do
Disposers (food waste)
do ...
Ranges
..
do
Refrigerators
do
Freezers *
do
Washers
do
Dryers (incl. gas)..
. d o
Vacuum cleaners
do
31,094
4,508
3,199
2,771
3,232
6,315
1,576
5,107
3,925
8,337
134 2
4,741
4,208
134.9
99.3
127 2
35,049 3,094 ' 3, 352
686.4 722.4
15,346
296.8 ' 325. 8
13,702
2,976 ' 250. 1 ' 263. 6
286.4
311.9
3,43C
554.1 '623.7
i 6, 774
199.8 '216.8
2,415
428.5 476.0
5,504
4,256 305.4 309.3
710.5
677.6
9,030
3,384
771.6
304.1
268.2
292.6
618.5
227.3
463.4
330.3
671.7
2,965
306.2
272.4
236.0
304.0
703.2
311.0
432.5
319.2
632.5
2,935
146.0
318.2
252.5
295.2
707.8
200.1
543.3
422.3
755.2
2,690
128.7
322.1
266.9
294.0
578.6
183.8
502.3
419.2
857.9
3,070
204.0
379.3
280.5
331.3
596.2
213.7
580.0
470.6
929.5
2,625
299.8
325.4
244.4
264.3
470.8
216.6
420.8
362.1
871.8
2,346
348.5
279.1
233.8
231.2
423.7
199.1
316.9
288.7
624.5
2,585
497.6
253.5
209.8
242.3
441.2
188.5
407.3
319.3
674.1
3,175
651.9
310.2
264.8
271.6
552.9
268.8
454.6
307.8
940.3
3,160
671.6
303.2
214.3
271.9
541. 6
263.7
462.9
315.6
786.0
148.8
206.3
275.0
136.6
238.7
263.1
143.1
166.8
225. 4
146.0
210.7
251.7
149.5
232.1
228.3
152.5
201.5
279.7
124.4
183.4
228.7
114.4
169.7
209.4
133.5
149. 6
148.9 ' 181. 5
162^9
235.8 ' 214. 7 ' 237. 8
145.2
173.5
258.8
GAS EQUIPMENT (RESIDENTIAL)
Furnaces, gravity and forced-air, shipments, thous..
Ranges, total, sales
.
do
Water heaters (storage), automatic, sales
do
2,066
2,661
3,163
2,' 481
3,080
145.5
230.6
281.8
PETROLEUM, COAL, AND PRODUCTS
COAL
Anthracite:
Production J
thous. sh. tons..
575
633
601
7,106 i 6, 725
Exports
.
do
780
717
72
58
91
Price, wholesale, chestnut, f.o.b. car at mine
$ per sh. ton.. 18.228
20.044 19.600 19. 600 19. 600
Bituminous:
Production {...
thous. sh. tons
595,386 i 591,000 ' 47,095 '51,555 46, 010
r
Revised.
p Preliminary.
i Annual data; monthly or quarterly
revisions not avail.
2
4
Excludes figures for rubber-tired dozers.
3 For m0nth shown.
Data cover 5 weeks;
other periods, 4 weeks.
* Includes nonfarm industrial tractors previously classified in the
tractor shovel loader group shown above; for Jan. 1974, shipments of this type totaled 3,446
units valued at $25.1 mil.
tElTcctive June 1973 SURVEY, index revised back to 1970. c Corrected.
429
33
580
95
525
37
606
97
575
47
513
48
495
39
440
12
'510
40
540
80
p 525
19.845
20. 458
20. 703
20. 703
21 .070
21. 621
21. 621
22.785
22. 785
26. 031
26. 031
57, 455
43,675 55,005 48,785 54,800 50,550 48, 050 53, 470
cf Effective Jan. 1973, data reflect total market as follows: Sets produced in the United States,
imports by U.S. manufacturers for sale under their brand name and, beginning 1973, sets imported directly for resale.
*New series. Source: Association of Home Appliance Manufacturers.
9 Includes data not shown separately.
t Monthly revisions for 1972 will be shown later.
49,010 r 51,455
53, 065
SURVEY OF CURRENT BUSINESS
June 1974
1972
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown
in the 1973 edition of BUSINESS STATISTICS
1973
Annual
S-35
1973
Apr.
May
June
July
Aug.
1974
Sept.
Oct.
Feb.
Mar.
Apr.
50, 415
34,468
14,637
7,977
45 122
30, 020
14,002
7 307
46,402
31,010
14, 549
7,664
44,032
29, 290
14,212
7,737
1,310
1,100
840
520
96 005
83,366
12,339
6,269
93 970
80, 910
12 670
6,090
Dec.
Jan.
50, 130
33,886
15, 228
8 048
Nov.
May
PETROLEUM, COAL, AND PRODUCTS—Continued
COAL— Continued
Bituminous— Continued
Industrial consumption and retail deliveries,
total 9
thous. sh. tons
Electric power utilities
do
Mfg. and mining industries, total.
..do. _
Coke plants (oven and beehive)
do
Retail deliveries to other consumers
.
556, 022
386, 879
160, 827
93, 634
42 689
28, 868
13,412
7 727
43 628
29, 655
13, 596
8 048
45 115
31,824
12,895
7 774
47, 715
34, 620
12, 651
7 964
48 840
35, 933
12,447
7 894
45 471
32, 735
12, 052
7 603
46 427
32, 263
13, 348
7 887
46 703
31 962
13, 798
7 736
8,748
8 200
396
360
381
431
446
672
804
932
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.
516, 776
348, 612
159, 253
87, 272
_
do
97 445 103 997
83, 250 89,900
13 765 13 687
6 255 6,662
290
290
340
360
275
260
310
275
280
370
290
300
390
430
410
52 870
5 063
5 140
4 969
4 164
5 125
3 424
5 882
5 214
4 889
2,813
4 627
3 179
4 944
11.816
11. 659
11 541
11 267
11 570
11 283
11 616
11.551
11 551
12 040
12 129
13 010
13 103
654
59 853
23,953
2
784
63 496
26, 458
64
5 262
2 175
66
5 454
9 229
60
5 325
2 315
64
5 307
2*351
71
5 383
2 309
67
5 153
2 067
68
5 358
2 215
66
5 218
2 099
82
5 426
2 175
67
5 422
2 053
65
4 974
1 844
r
70
5 252
70
5 242
2,941
2 590
351
1,563
1,232
1 184
1 113
71
1,995
1 395
2 035
1 829
206
1 895
61
1 796
1 638
159
1 922
227
1 712
1 572
139
1 965
108
1 514
1 367
148
2 057
119
1 520
1 370
150
2 087
147
1 501
1 375
126
2 027
211
1 435
1 339
%
1 957
109
1 313
1 236
76
2 017
88
1 184
1 113
71
1 995
101
1 125
1 053
72
1 928
70
1 139
1 070
69
1 811
57
1 163
1 100
63
1 183
1 130
53
149
130
11,306
3.45
4 280 9
88
9 892
43.87
4 537 3
91
699
3 77
366 2
90
749
3 77
380 7
90
767
4 13
385 9
94
912
4.11
395 2
94
724
4.11
391 7
93
854
4.12
376 8
92
790
4 12
395 5
94
822
1 087
763
901
947
957
376 6
89
5 373 2
6
84
326 5
81
936
6.33
371 2
91
6,262.0
497 8
523 6
505 3
531.2
540.8
516 7
542 0
534 2
519. 1
495.8
452.1
3,455 4
648 3
3r 353 4
645. 1
277 0
53 2
288 4
54 9
276 3
52 6
285 0
54 8
284 0
55 1
272 3
53 1
284 3
55 3
274 3
54 0
280 3
r 54 5
276 1
53 6
256 4
49 5
856.8
878 5
1 234 2
1 029 4
96 2
71 4
103 7
76 7
101 3
75 1
113 0
78 3
115 9
85 8
108 7
82 5
119 5
82 8
108 5
97 4
94 3
90 0
77 5
88 5
66 3
79 9
177.3
10. 378
11. 367
thous. sh. tons..
..
do
do
__ _
99 022
85, 512
13 220
6 875
55 960
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.-
99 022 110 861 114 551 107 616 105 027 104 488 103 561 104 397 104 095
85, 512 92 971 97 470 90 747 90, 818 90,' 055 88 886 90 200 89 734
13, 220 17 550 16 681 16 594 13 949 14 123 14 400 13 917 13 991
6,875
7 171
8 500 8 821 8 544
6 039 6 493
6 575 7 097
115 372
98 450
16 632
9,032
1 009
do
do
do _.
do
do
3
(5)
(5)
PETROLEUM AND PRODUCTS
Crude petroleum:
Oil wells completed
Price at wells (Oklahoma)
Runs to stills O
Refinery operating ratio
..number
$ per bbl
mil. bbl
% of capacity
A.11 oils, supply, demand, and stocks:
New supply, totalcPt
Production:
Crude petroleumt
Natural-gas plant liquids!
Imports:
Crude and unfinished oils
Refined products}: _ _ _ _ _
_
mil. bbl
do_
.do
do
do
2
5, 839. 0
r
r
Change in stocks, all oils (decrease,—)
do
-85.0
49.3
25.9
20.4
24.3
28.3
10.7
18.7
21.8
-14.2
-14.9
-33.2
Demand, total©
Exports:
Crude petroleum _
Refined productst .
Domestic product demand, total 9 © _
QasolineJ.
_
Kerosene
do
6 071 7
6 381 7
AQR f)
£99 0
500 6
514 8
505 9
2
81 2
5, 990. 3
2 350 7
85 9
7
83 5
6 297 5
2 459 o
78 9
477 7
2
3
9
6
559 1
0
61
553 0
206 0
92
2
9
3
1
4
541 8
5
59
535 94
181
97
492 1
3
54
486 4
171 7
7 9
do
do
do
1 066 1 1 124 3
925 6 1 019 9
382 5
383 4
7Q ft
74. 9
on A
72 4
78 0
30 2
72 2
74 7
32 4
79 2
83 4
32 5
79 8
80 0
31 9
536 8
0
6 9
599 9
208 6
56
90 4
79 0
33 0
547 3
do
do
do
do
do
546 6
0
6 7
539 g
2°6 6
4 5
105 3
93 6
30 4
114 2
90 2
39 2
118 4
94 1
97 g
107 4
84 3
24 1
51
16 1
4 5
20 1
34 5
54
23 4
34 2
5 3
26 1
39 3
4 6
21 1
38 7
57
20 9
46 0
5 0
15 1
50 8
4 9
93
49 5
52
6 9
54 8
4 4
7 6
44 2
933 7
075 1
933 o
105 9
636 1
047 2
240 7
103 2
603 9
Distillate fuel oil
Residual fuel oilj
Jet fuel
.
_ _
Lubricants
Asphalt.
Liquefied gasesj
Stocks, end of period, total .
Crude petroleum...
Unfinished oils, natural gasoline, etc
Refined products
Refined petroleum products:
Gasoline (incl. aviation):
Production...
Exports}
Stocks, end of period
do
do
do
52 8
163 8
519 8
59 0
18? 6
528 6
do
do
do
do
959 0
246 4
100 8
611 7
1 008 3
942 5
107 0
658 8
do
do
do
2 320 0
7
217.1
9 401 9
17
213.4
245
Prices (excl. aviation):
Wholesale, regular*
Index, 2/73=100-_
Retail (regular grade, excl. taxes), 55 cities
(1st of following mo.)
$ per gal
Aviation gasoline:
Production
mil. bbl
Exports}
do
Stocks, end of period
do
Kerosene:
Production
_ .
do
Stocks, end of period.
do
Price, wholesale (light distillate)*
Index, 1967=100
™
months.
_
-• ,
i
8
O
m
e
49
4
A
11 3
oo Q
7
514
215
4
2
7
7
1
Q
6
494
210
3
82 2
78 1
34 5
qn q
7
498
198
5
6
540
194
7
II 9 7
563 1
958 0
248 9
111 0
598 9
986 3
943 7
109 5
633 1
997
0 1 015 6 1 9037 4 1 0°3 9 1 008 3
9
949 5
950 0
241 3
48 3
46 3
107 0
111 7
109 4
110 3
106 94
658 8
661 6
642
680 9
655 0
192 9
211 3
fi\
( )
211.6
218 3
i
215.0
215 4
200 2
208.2
209 8
2
205.3
208.6
213.9
109. 9
075
103.4
105.7
108.6
110.4
111.1
OCr
268
9 AC
9fi°>
17 0
2
43
16 4
2
39
12
/i\
q q
( L3
) 1
80 1
19 1
80 1
9| Q
6 6
18 1
5 2
19 1
128.0
123.4
122.0
9^7 Q
14
/i \
v.^...*^.^,n,,j.iv, \_iciuciivyi. cciiiici peilUUS UH3 avaliauie.
7
507
218
4
111 6
559 9
913 3
13
/i\
31
4
§ Includes nonmarketable catalyst coke.
C
90 9
12fi. 0 '
., A 1 Less i nan T 50 thousand barrels.
2 Reflects revisions not available by
3
Average for Jan.-May.
* Average for Jan.-Oct.
s Series discontinued.
al gas plant liquids,
?. crude oil distillation
9 includes data not shown separately.
4
i
3
5
2
1
6
7
5
i
9
67
218.2
193 9
5
211.4
190 4
2
213.4
184 9
221. 3^
223.0
110. 9
112. 9
118.5
126.1
136.7
147.0
161.4
172. 1
277
286
303
398
361
381
c 39(5
417
14
17
m
36
7 0
93 5
18
1i
(0
39
11
(i)
38
m
39
66
71
9J 9
91 0
5 9
17 5
56
15 6
m
16
19
/i\
34
34
35
5 4
16
92 1
m
4 9
20 5
9
-27.9
m
59
907 1
Q
(i)
4 0
168 2
m
10
217.6
209. 4
184.8
198. 7
154. 3
145. 9
128.fi
129.4
130.0
135.6
139. 9
d" Includes small amounts of "other hydrocarbons and hydrogen refinery input," mt
shown separately.
\ Monthly revisions for 1972 will be shown later.
© Beginning March 1974 SURVEY, data are restated to account for processing gam and
crude losses not previously included; comparable data for earlier periods will be shown later.
©Effective with Jan. 1974 data, series known as "Gross input
to crude oil distillation units ;
c
sec note c for this page.
*Sec similar noto, p. S-31
Corivcted.
SUEVEY OF CURRENT BUSINESS
S-36
1972
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown
in the 1973 edition of BUSINESS STATISTICS
1973
1973
Apr.
Annual
June 1974
May
June
July
Aug.
1974
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
97.3
13.5
.3
196.5
89.3
13.9
.1
181.2
67.2
8.2
.1
149. 2
Mar.
Apr.
May
PETROLEUM, COAL, AND PRODUCTS—Continued
PETROLEUM AND PRODUCTS— Continued
Kenned petroleum products— Continued
Distillate fuel oil:
Production
mil. bbl
Imports
do _
Exports
do
Stocks end of period
do
Price, wholesale (middle distillate)*
.
Index, 1967 = 100
Residual fuel oil:
Production
mil. bbl
Imports
_
- do
Exports
do
Stocks, end of period
do
Price, wholesale*
Index, 1967 = 100. . .
Jet fuel:
Production
Stocks end of period
do
do
do
Asphalt:
Production
Stocks end of period
75.4
7.2
.2
114.7
78.9
7.7
.1
119.1
84.8
6.5
.3
137.9
85.4
9.9
.1
160.9
86.9
8.9
.3
177.3
84.4
8.9
.8
190.2
203.' 0
87.7
14.8
.1
200.2
139. 7
130.1
133.8
137.4
141.8
143.3
145.6
147.7
157.3
171.7
194.8
234.1
251 8
257. 9
269.2
354. 6
666. 7
9.2
53.5
190. 4
26.3
51.1
1.2
47.0
176. 9
29.4
51.7
1.2
49.2
185.3
27.4
52.7
.2
51.8
181.0
27.4
49.5
1.1
53.4
184. 9
26.4
57.3
.9
53.6
176.6
26.3
55.2
.7
55.1
183.5
30.5
48.2
.6
55.0
201.6
31.8
58.2
.2
52.0
206.0
35.9
55.6
.3
53.5
281.4
33.2
53.7
.3
46.5
319.4
28.8
53.8
.3
45.0
417.2
505. 9
522.0
561.8
310.0
25.5
313.7
28.5
26.6
27.9
26.0
25.8
25.1
25.4
25.6
25.7
26.2
24.9
25.4
25.1
27.1
25.6
25.6
28.5
25.7
28.5
24.8
29.7
21.9
29.6
65.3
15.0
13.3
68.7
12.8
12.2
5.5
1.2
13.4
5.8
1.2
12.9
5.4
1.2
12.8
5.8
1.0
12 2
5.6
1.0
11.8
5.5
1.0
11.8
6.2
.8
11.6
6.0
.9
12.1
6.0
1.1
12.2
5.9
1.0
12.0
5.2
.7
12.3
155.3
21.6
167.9
15.0
12.1
31.0
14.7
30.2
16.8
27.3
17.7
22.9
18.9
16.8
18.1
14.9
17.8
12.5
14.0
12.1
11.4
15.0
8.8
18.0
8.7
20.1
575.1
444.7
130.4
85.7
583.9
447.0
136.8
98.6
48.9
37.7
11.2
70.4
51.5
38.4
13.0
80.0
48.4
36.8
11.6
90.0
49.2
36.5
12.7
101.0
48.7
36.6
12.1
106.8
47.1
36.0
11.1
111.3
49.7
38.0
11.7
111.3
47.2
37.3
9.9
104.2
48.8
38.3
10.5
98.6
47.7
37.6
10.1
90.1
44.5
35.0
9.7
88.5
292.5
637.4
12.1
55,2
mil bbl
do
Lubricants:
Production
Exports
Stocks end of period
963.6 1, 030. 2
66.4 138.8
3.2
1.2
154.3 196.5
mil bbl
do
90.3
13.5
Liquefied gases (inch ethane and ethylene):
Production total
mil bbl
At refineries (L R G )
Stocks (at plants and refineries)
do
do
PULP, PAPER, AND PAPER PRODUCTS
PULPWOOD AND WASTE PAPER
Pulpwood:
Consumption
Stocks end of period
Waste paper:
Consumption
Stocks end of period
Production:
Total all trades
Sulfate
Sulflte
70 273
71 538
5 165
71 779
71 453
5 092
5 603
5 897
4 343
6 027
6 133
4 291
6 234
6 074
4 330
5 998
5 845
4 421
6 347
6 097
4 515
5 956
5 746
4 890
6 505
6 185
5 184
6 081
6,024
5,217
5 876
5,796
5,092
6 068
6,307
4,805
6 027
6,023
4,640
6,840
6,608
5,087
thous sh ton*5
do
11 703
626
12 923
'516
1 012
509
1 059
495
1 032
472
926
492
1 047
471
977
433
1,097
467
1,057
485
977
516
1,069
537
r
992
r
1,082
593
thous q h tons
46 767 48 238
1 656 1 672
460
31, 826 32,
2 173 9 293
3 983
125
2,715
186
4 189
141
2, 838
197
4 058
148
2,714
198
3 928
118
2,663
185
4 181
144
2,803
205
3 849
113
2,619
185
4 185
165
2,764
197
4,104
143
2,753
198
3,748
148
2,463
177
4,100
144
2,730
196
3,776
4,253
171
2,833
194
do
do
545
WOODPULP
._
do
do
r
r 135
2,490
174
411
do
.,. _ do
do
4,639
2,502
3 971
4,678
3,130
4 003
365
257
335
409
264
339
412
253
333
393
253
317
421
258
351
350
253
329
421
289
349
404
269
336
386
259
316
405
298
327
382
305
290
337
Stocks, end of period:
Total, all mills
Pulp mills_-_
Paper and board mills
Nonpaper mills
do
do
do
do
848
725
296
348
81
111
782
324
379
78
807
343
385
79
736
318
339
79
736
327
341
68
683
294
328
62
707
324
393
60
725
329
335
61
725
296
348
81
702
'686
740
330
377
70
329
63
r316
61
324
65
Exports, all grades, total
Dissolving and special alpha. _ _
All other
do -. i 2, 253 i 2, 343
do
793
736
do- _ i 1, 460 i 1, 607
214
65
149
184
68
116
210
60
150
181
62
119
196
47
149
198
53
144
211
62
149
211
60
151
180
52
128
193
75
118
206
61
145
237
74
163
245
68
177
Imports, all grades, total _
Dissolving and special alpha
All other
do
do
do
329
13
316
365
22
343
333
17
315
324
17
307
250
3
247
279
10
270
356
17
339
378
23
355
287
21
266
363
21
341
337
22
316
345
13
333
368
19
349
Qroundwood
Deflbrated or exploded
Soda semichem screenings etc
323
393
86
1
3, 728 i 3 993
224
177
i 3 504 1 Q gig
r
OKI
PAPER AND PAPER PRODUCTS
Paper and board:
Production (Bu. of the Census):
All grades, total, unadjusted. __thous. sh. tons.Paper..
do
Paperboard _
do
Wet-machine board
do
Construction paper and board
- do
Wholesale price indexes:
Book paper, A grade
1967=100..
Building paper and board
T
1
do
59, 445
25 426
28 532
147
5,341
61, 833
?6 486
99 6,54
135
5, 559
5,171
2 191
2 487
11
482
5,505
9 363
2 633
12
497
5,196
2,213
2,509
12
462
4,919
2,123
2,332
10
454
5,380
2,280
2,594
11
495
4,813
2 050
2,305
11
447
5,491
2,338
2,647
12
494
5,228
2,237
2,509
11
470
4,710
2,077
2,210
10
412
5,258
2,277
2,547
12
421
109.0
105.5
106.4
112.4
115. 1
112.8
111.7
113.0
109.3
111.7
114.6
110.8
112.4
116. 7
111.7
112.4
116. 7
112.2
112.4
112.4
116.7
115.9
115.3
115.3
115.3
117.7
118.8
120.1
116,7
1^7 0
121.7
Revised.
Reported annual total; revisions not allocated to the months.
New series. The Bureau of Labor Statistics has revised its pricing program and discontinued prices for the former specification. The index shown is developed from revenue and
volume data collected directly from petroleum companies. The pricing formerly was based
on spot quotations in trade journals, which over the past year have come to represent a
112.8
5,422
r 4, 923
' 2, 125 2,350
' 2,r 354 2, 579
ll
13
481
M32
116.7
131 0
121.8
decreasing portion of domestic transactions. Because of the time required to collect the new
data there will be a one-month lag in pricing; e.g. the May 1974 index reflects changes in.pnc es
from Mar. to Apr. Except for gasoline (p. S-35), 1973 annuals are averages of Jan. a n d J j e D .
old indexes and Mar.-Dec. new; for gasoline, it is an average of Feb.-Dec. new indexes, l neie
are no comparable indexes for earlier periods.
SURVEY OF CURRENT BUSINESS
June 1974
1972
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown
in the 1973 edition of BUSINESS STATISTICS
1973
1973
Annual
S-37
Apr.
May
June
July
Aug.
1974
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
PULP, PAPER, AND PAPER PRODUCTS—Continued
PAPER AND PAPER PRODUCTS— Con.
Selected types of paper (API):
Groundwood paper, uncoated:
Orders, new. .
thous.sh. tons..
Orders unfilled end of period
do
Shipments
do
Coated paper:
Orders new
do
Orders unfilled, end of period
do
Shipments
do
Uncoated book and writing and related papers1, t
Orders new
do
Shipments
do
Unbleached kraft packaging and industrial converting papers:
Orders new
do
Orders unfilled end of period.
... do ..
Shipments
do
Tissue paper production
.
.. do
Newsprint:
Canada:
Production
Shipments from mills
Stocks at mills, end of period
1,405
164
1,317
1,431
152
1,427
132
205
106
112
192
124
125
195
122
130
207
109
136
211
132
112
219
120
126
201
136
96
168
123
100
152
119
'118
r
139
' 126
117
169
109
140
168
120
3,630
393
3,522
3,826
346
3,852
329
457
318
344
462
339
318
462
328
292
420
310
316
435
324
293
419
301
312
422
325
279
359
330
309
346
310
333
352
345
306
342
310
346
366
341
6,089
6,023
7,022
'6,718
540
'591
'562
'541
'587
'533
614
'567
'525
'608
'544
612
4,039
241
3,916
3,977
3,967
193
4,011
3,984
308
224
326
339
300
212
354
349
370
192
340
334
374
191
314
314
324
196
346
336
303
190
327
308
387
178
351
340
313
176
339
328
320
193
332
311
337
190
340
345
204
333
316
370
210
364
345
do _ _
do
_-. do_ _
8,820
8,901
251
9,140
9,199
193
792
821
283
828
846
265
825
811
279
775
781
273
684
665
292
592
665
218
716
722
213
801
826
188
785
780
193
3
815
3
791
3
758
740
233
835
776
292
799
848
244
United States:
Production
-. -do
Shipments from mills
do
Stocks at mills, end of period..
_. do _
3,422
3,437
27
3,431
3,435
24
292
309
282
278
288
3
281
35
291
313
34
278
35
292
30
258
290
38
277
255
Consumption by publishers cT
do
Stocks at and in transit to publishers, end of
period
- thous. sh. tons.
7,569
7,658
682
702
642
620
544
603
637
642
671
670
Imports
.
do
Price, rolls, contract, f.o.b. mill, freight allowed
or delivered
$ per sh. ton,.
7,101
7,410
634
656
678
163. 20
170. 44
168. 58
168. 58
Paper board (American Paper Institute):
Orders, new (weekly avg.)
thous. sh. tons..
Orders, unfilled §
do ..
Production, total (weekly avg.)
_ _ . .. do
513
1,446
549
518
1,603
568
611
1,905
594
1,899
.
Paper products:
Shipping containers, corrugated and solid fiber,
shipments
mil. sq. ft. surf, area.. ^11, 926
2 525. 0
thous. sh. tons
m i l $ _ _ 1,330.0
Folding paper boxes
'* 228,052
261
289
26
263
24
3
281
277
328
258
610
608
652
652
623
3569
539
628
606
590
606
603
3
657
718
606
586
511
567
656
549
682
168. 58
169. 42
169. 42
170.25
170. 25
179. 67
182. 34
596
1,860
541
1,874
595
1,903
573
1,909
575
1,817
579
1,723
518
1,603
585
590
574
587
548
19, 758
19, 591
16, 762
20, 239
18, 267
21, 744
19,410
16. 934
217 5
118.9
215 1
119.5
193 5
107.0
232 4
130.9
216.7
125.0
243 0
138.9
227.0
130.2
225.3
133.0
18, 192
211 4
114.8
2,614.0
1,460.0
289
292
25
518
588
216
262
27
583
584
'333
261
25
794
820
218
276
261
24
276
24
619
598
638
707
727
720
628
623
636
184. 34
184. 34
195. 05
205. 13
205. 13
583
1,753
563
1,741
622
1,789
594
1,775
596
1 741
579
19. 556
587
18, 238
272
31
597
19,518
587
599
19 474 19, 664
225.7 r 201. 4 r 224 1
133.0 ' 123. 0 ' 138. 0
212 9
129. 1
RUBBER AND RUBBER PRODUCTS
RUBBER
Natural rubber:
Consumption
thous. Ig. tons
Stocks, end of period. _. .._ ..
do
Imports, incl. latex and guayule
do
Price, wholesale, smoked sheets (N.Y.)._$ per l b _ .
Synthetic rubber:
Production
.
Consumption
Stocks, end of period
thous Ig tons
.
do
do
_._
Exports (Bu. of Census).. _.
Reclaimed rubber:
Production
.
Consumption
Stocks, end of period
_ _ _
640. 60
116. 72
602. 16
685. 44 22 59. 43
122. 44 117. 54
642 91
43 26
57.34
116. 17
55 48
54 46
111 08
53 44
48.97
111.49
40.71
56.40
111.04
66.26
56.30
121.68
63.69
63.41
114. 92
60. 17
57.12
122. 47
56.32
53.96
122. 44
38 32
64.43
122. 04
53.18
58.43
118. 26
59.09
63.42
50. 15
.308
.310
.368
.413
.413
.364
.336
.395
.540
.538
.510
.488
.428
2, 424. 68 2,585 49 2223 63
2, 296. 12 2, 400. 84 2 199 03
495. 68
520. 99 2 461 63
222 59
197 72
469 41
199 86
196 06
469 93
210. 04
180. 33
499 28
220. 38
209. 48
505. 91
210 67
209. 08
517 18
227. 49
219.68
500.88
212. 61
196. 86
494. 73
219 37
188. 97
520 99
222. 74
221. 03
500.84
208. 70
201. 94
497. 00
22 36
24 18
23 58
20.86
18.96
29.34
25.01
21.60
21 10
22 40
20.55
27.76
27. 50
19 39
2 14 35
2 9Q 55
19 02
13 42
22 40
18 46
13 gi
23 Ig
16 79
11 38
25 04
15.30
11 89
23 87
11.71
11 27
22 18
13.04
14.52
21 43
•11.31
11.17
91 66
14 10
10 80
9Q 96
.181
.351
do
257. 10
275. 84
do
do
do
194. 45
187. 58
19 91
201 02
163 71
20 96
2
.410
14. 32
11.27
' 13 75 13 15
r 19 81
17 64
TIRES AND TUBES
Pneumatic casings, automotive:
Production
thous
229 611
293 418
19 193
18 693
17 752
14 287
17 325
17 727
19 841
18 035
17 343
20 366
19 349
20, 497
Shipments, total
Original equipment
Replacement equipment
Exports
do
do
do
do
227 944
63 924
161 689
2 331
238
69
165
4
916
600
216
100
23 429
6 211
16 950
21 646
6 360
14 969
21 994
6 562
15 099
19 433
4 671
14 46?
19 658
4 473
14 892
17 559
5 884
11 203
13, 950
3 778
9 76°
317
332
293
22, 582
6 555
15 593
300
20 765
5 424
14 990
17,055
4 846
11 657
551
15 808
4 432
10 854
522
17. 222
4,724
11 962
536
Stocks , end of period
Exports (Bu. of Census)
do
do
60 255
2*127
50 275
4 393
62 872
60 485
56 834
52 341
440
349
47 775
'429
45 636
*548
46 472
'517
50 275
404
50 392
'245
488
53 308
539
57 056
601
60 553
568
684
do
do
do
do
37 962
41 774
9 391
*766
38 701
44 710
8 556
1 290
3 364
3 912
10 175
3 438
3 568
10 366
9
3 233
3 919
10 203
2 350
3 348
9 633
2 950
3 688
9 311
3 209
3 736
9 234
3 592
4 273
8* 999
3 041
3 395
8*601
3 008
3 366
8 556
3 554
4 210
8 298
80
3 441
3 819
8 517
138
3,862
3 886
8 878
158
227
Inner tubes, automotive:
Production
Shipments
Stocks, end of period
Exports (Bu. of Census)..
_
968
295
149
11
' Revised.
* Preliminary.
1 Reported annual total; revisions not allocated to months.
2 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
3
Manufacturers Association and are not strictly comparableVith earlier data.
Beginning
January 1974, data reflect reduction in basis weight of newsprint from 32 to 30 Ibs. for 500
sheets measuring 24" x 36"; data for January 1974 on 32-lb. basis (thous. short tons): Canadaproduction, 840; shipments, 815; stocks, 222; United States—production, 289; shipments, 285;
149
67
110
421
82
504
143
471
141
409
129
mill stocks, 29; consumption by publishers, 586, stocks at and in transit, 676.
t Represents the sum of uncoated book paper and writing and related papers formerly
shown separately; data for new orders no longer available for the individual items.
d*As reported by publishers accounting for about 75 percent of total newsprint consumption.
§ Monthly data are averages for the 4-week period ending on Saturday nearest the end of the
month; annual data are as of Dec. 31.
June 1974
SURVEY OF CURRENT BUSINESS
S-38
1972
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown
in the 1973 edition of BUSINESS STATISTICS
Annual
1974
1973
| 1973
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
24, 601
31,846
38, 622
May
STONE, CLAY, AND GLASS PRODUCTS
PORTLAND CEMENT
Shipments, finished cement
thous. bbl
1
433,149 J 472 149
36 106
46 452
47 181
8 4022
100 5
1,718.0
8 922 7
94 2
1,637.5
783 6
64
138 5
861 7
7 2
151 8
862 1
83
161 9
000
133 3
123 3
99
11 7
307 9
300 6
26 4
122 1
130 9
130 8
47 633
53 138
43 367
50 213
38 612
26 500
22 245
Q
160 6
868 0
10 5
174 2
704 5
10 0
148 6
781 7
99
150 2
692 5
87
132 1
526 3
5 7
87.7
511 4
65
97.2
12 1
n
o
13 0
10 2
11 2
91
8.2
7.9
7. 5
9.0
27 3
26 0
25 2
27 5
23 o
26 8
23 9
21.3
23 0
'22 1
23.4
130 9
131 3
131 5
131 5
132 1
132 1
132.5
134 8
136 5
139.5
CLAY CONSTRUCTION PRODUCTS
Shipments:
Brick, unglazed (common and face)
mil. standard brick
Structural tile, except facing __ thous. sh. tons
Sewer pipe and fittings, vitrified
do._
Facing tile (hollow) , glazed and unglazed
mil. brick equivalent
Floor and wall tile and accessories, glazed and unglazed
_ _
.
mil. sq. ft
Price index, brick (common), f.o.b. plant or
N.Y. dock
_.
. 1967=100
9
m
0
o
r
T
452 1
5.5
100. 9
r
560.6
7.2
124.3
141.2
141.8
GLASS AND GLASS PRODUCTS
Flat glass, mfrs.' shipments
thous. $.. 550,292 ••591,290
Sheet (window) glass, shipments
Plate and other flat glass, shipments
Glass containers:
Production.
Shipments, domestic, total
Narrow -neck containers:
Food _
Beverage
Beer
Liquor and wine
.
do
do
157,187 •• 152,242
393,105 r 439,048
147 118
148 395
' 153,526
146, 864
38 680
108 438
37 396
110 999
' 38,647
r 114,879
40, 524
106, 340
thous gross
267347
277 372
23 076
24 77°
24 476
22 922
24 270
22 116
24 662
21 098
20 318
24430
20 804
25, 814
28 754
.
264 869
272 630
21 881
26 458
23 813
21 684
26 206
22 543
23 283
21 656
20, 721
23,722
23 377
29,425
28,313
634
000
994
729
1 987
5*506
5 104
1 861
2 296
7 030
5 9836
2 18
1 856
7 094
5 359
1 886
1 482
6 590
5 408
1 439
2 240
6 816
5 805
1 899
2 565
5 739
4 995
1 630
1 890
5 361
5 152
2 159
1 577
5 440
4 541
2 105
1,592
5,552
4,386
1,911
2
5
5
*>
189
407
878
074
3,264
6,432
6,346
2,568
2,398
7,476
6,588
1,608
do
d
do
o
do
do
24
71
54
22
333
053
404
425
23
71
59
22
020
193
015
339
2
5
4
2
Wide-mouth containers:
Food (incl. packer's tumblers, Jelly glasses,
and fruit jars)
thous gross
Dairy products
do
58 241
238
59 129
197
4 483
16
5 692
25
4 654
' 13
4 300
12
6 301
21
4 933
14
5 313
16
4 874
16
4 446
14
5 551
19
5 167
13
6 748
13
6 949
14
Narrow-neck and Wide-mouth containers:
Medicinal and toilet
do
Household and industrial
do
29 892
4 283
31 526
4 421
2 536
388
2 925
436
2 582
369
2 156
297
2 739
385
2 330
337
3 008
384
2 694
409
2,510
310
3 130
455
3 190
459
3,583
471
2,907
373
35 842
35 924
41 006
38 727
39 107
39 936
37 681
36 587
37608
36 884
35, 924
36 929
34 230
30,364
30,612
12368
11 984
13 806
12 689
3 473
3 182
3 777
3 259
3,632
3,167
3,218
2,916
do
7 718
7 661
1 904
2 079
2,105
1,619
do
4,719
5 525
1 580
1 554
1,530
1,281
do
309
349
91
79
93
83
330
513
14, 372
451
357
343
10 738
2 279
'204
293
484
15 151
369
399
341
11 130
2 700
'212
79
128
3 812
93
102
96
2 784
678
60
72
118
3 899
82
101
88
2 870
701
56
66
114
3,780
83
99
77
2,757
719
44
59
106
3,482
101
93
71
2,517
655
44
Stocks, end of period.
. . .
.
do
GYPSUM AND PRODUCTS (QTRLY)
Production:
Crude gypsum
Calcined. . .
thous. sh. tons
do
Imports, crude gypsum
Sales of gypsum products:
Uncalcined
Calcined:
Industrial plasters
Building plasters:
Regular basecoat
All other (incl. Keene's cement)
Board products, total..
Lath
.
Veneer base
Gypsum sheathing
R egular gypsum board
Type X gypsum board
Pre decorated wallboard
do
do
mil. sq. ft
do
do
do
do
do
do
TEXTILE PRODUCTS
WOVEN FABRICS J
Woven fabrics (gray goods), weaving mills:
Production, total 9
mil linear yd
Cotton
_.
do
Manmade
fiber
do
Stocks, total, end of period 9 d*
Cotton
Manmade
fiber
do
do
do
Orders, unfilled , total, end of period 9 If. ..do.
Cotton
do
Manmade
fiber
do
11,098
5,666
5,336
11,751
5,416
6, 214
21,168
2556
2
599
948
445
492
942
444
488
2934
2430
2495
902
414
479
900 2 1, 130
2506
404
2611
489
920
404
509
830
370
453
21,2 159
518
2628
••960
431
'522
961
433
521
983
408
567
718
285
428
830
342
483
789
321
462
800
310
484
792
311
477
763
315
444
739
304
432
720
295
422
728
296
429
718
285
428
741
295
442
••778
321
452
794
330
459
4,164
2,111
2,010
3, 502
1,559
1,905
4,840
2,432
2,358
4,666
2,280
2,337
4,489
2,174
2,272
4,251
2,078
2,133
3,894
1,799
2,057
3,821
1,640
2,143
3,640
1,541
2,020
3,553
1,527
1,986
3,502
1,559
1,905
3,477 r 3, 457
1,491
1,524
1,950 r 1,900
3,429
1,545
1,852
3
135
496
5,012
9,202
11, 603
12, 375 * 12,596
2573
567
543
2706
564
509
COTTON
Cotton (excluding linters):
Production:
GinningsA
_
thous. running bales
3 13, 267 * 12, 596
Crop estimate, 480-pound bales, net weight
„
thous. bales.. 3 13, 704 4 12, 958
Consumption
do
2719
579
575
7,279
7,777
Stocks in the United States, total, end of period
thous. bales.. 12,333
7,351
12, 595
6,203
5,200
Domestic cotton , total
do
7,336
12, 586
6,191
5,187
12, 319
On farms and in transit
do
1,376
1,065
2,788
878
3,346
Public storage and compresses
_ do
4,397
3,476
8,
761
2,737
7,947
Consuming establishments
do
1,563
1,572
1,037
1,650
1,026
Foreign cotton , total
do
12
14
9
15
13
' Revised.
1 Annual total; revisions not allocated to the months or quarter.
2 Data
cover 5 weeks; other months, 4 weeks.
s crop for the year 1972.
* Crop for the year 1973.
JMonthly revisions (1970-72) appear in "Woven Fabrics; Production, Stocks, and Unfilled
Orders," M22A—Supplement 3 (Aug. 1973), Bureau of the Census.
9 Includes data not
shown separately.
2712
4 12, 958
592
••587
2678
6,880
6,867
958
4,421
1,488
12
9,633 r 8, 226
3,929 15, 985 15, 217 14, 444 13,421 12, 595 10,822
9, 620 ••8,211
3,916 15, 975 15, 206 14,434 13,411 12, 586 10,813
1,156
1,432
1,521
2,788
5,015
9,031
350 13, 160 12,836
6,964 '5,642
7,401 8,761
8,145
4,374
1,494
1,249
2,074
1,224 r 1, 413
1,147
995
1,029
1,121
1,037
1,321
1,492
••15
10
13
9
10
9
10
13
11
cfStocks (owned by weaving mills and billed and held for others) exclude bedsheetmg,
toweling, and blanketing, and billed and held stocks of denims.
H Unfilled orders cover wool apparel (including polyester-wool) finished fabrics; production
and stocks exclude figures for such finished fabrics. Orders also exclude bedsheeting, toweling,
and blanketing.
A Cumulative ginnings to end of month indicated.
SURVEY OF CURRENT BUSINESS
June 1974
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown
in the 1972 edition of BUSINESS STATISTICS
1972
1973
| 1973
Annual
S-39
Apr.
May
June
July
Aug.
1974
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
TEXTILE PRODUCTS—Continued
COTTON— Continued
Cotton (excluding linters)— Continued
Exports
thous. bales..
Im ports
do
437
4
500
2
388
2
329
266
6
259
3
257
3
592
1
545
3
598
3
778
11
638
6
27.1
30.2
29.5
30.4
'37.5
'38.2
'38.0
'39.5
'47.6
'50.7
'52.0
'53.4
58.4
48.7
771.9
40.2
45.2
46.0
52.1
66.9
80.5
75.3
666.7
76.6
78.1
68.6
62.4
63.4
56.2
18.3
10.4
115.9
.445
67.7
18.0
9.8
116.2
.447
63.1
18.1
10.0
18.1
9.9
9.2
.458
5.0
18.1
9.9
9.1
.456
5.0
17.8
9.9
29.3
.372
25.0
18.0
9.9
9.0
.452
4.9
18.1
9.8
8.9
.444
4.8
18.1
9.8
211.5
18.1
9.8
9.2
.460
4.9
18.0
9.8
8.2
.409
4.4
18.1
9.8
211.6
'18.3
9.7
'9.3
'.467
5.0
211.0
.455
26.0
18.1
9.8
9.4
.468
5.0
5,666
5,161
22.7
18.4
24.0
22.5
21.4
26.2
19.3
17.6
16.5
16.4
18.4
15.8
15.6
16.0
16.5
4.1
2.9
3.2
3.0
2.8
3.6
2.9
2.6
2.7
2.8
2.9
2.7
2.8
2.8
3.1
.18
.16
.14
.13
.13
.14
.15
.15
.16
.17
.16
.17
.18
.17
.19
409.2
735.5
459.9
680.9
38.0
56.0
38.8
59.2
37.9
56.2
35.4
54.2
33.9
58.1
42.5
49.4
43.8
60.4
44.8
57.7
43.3
56.0
44.1
53.6
43.6
58.6
52.9
59.5
51.0
51.2
3,089
75
5,495
33
608
2
Price (farm). American upland
cents per lb._ ' i 27. 2
Price, Strict Low Middling, Grade 41, staple 34
135.6
(IMe"), average 11 markets*
.cents per lb__
744.6
COTTON MANUFACTURES
Spindle activity (cotton system spindles) :
Active spindles, last working day, total
Consuming 100 percent cotton
Spindle hours operated, all fibers, total
Average per working day
Consuming 100 percent cotton
mil..
do
bil..
do
do
Cotton cloth:
Cotton broadwoven goods over 12" in width:
Production (qtrly )
mil. lin. yd
Orders, unfilled, end of period, as compared with
avg. weekly production
No. weeks' prod..
Inventories, end of period, as compared with
avg. weekly production. .No. weeks* prod-Ratio of stocks to unfilled orders (at cotton
mills), end of period
Exports, raw cotton equiv
thous. bales..
Imports, raw cotton equiv . . .
do
.462
26.3
1,343
MANMADE FIBERS AND MANUFACTURES
Fiber production, qtrly. total
mil. Ib
7, 293. 6 8,329.4
Filament yarn (rayon and acetate)
do
653.1
635.3
Staple, incl. tow (rayon) .
do ..
713.2
696.7
Noncellulosic, except textile glass:
Yarn and monofilaments
_
do
2,773.3 3,339.6
Staple, incl. tow
do
2, 582. 4 2,969.8
Textile glass
fiber
do
571.6
688.0
Exports: Yarns and monofllaments
Staple, tow, and tops _ _
Imports: Yarns and monofllaments
Staple, tow, and tops
thous. lb-_ 117,405 5 252,829
-do
205,485 316, 441
do
do
.458
26.1
2,077.2
153.7
172.6
827.8
765.9
172.7
842.3
738.2
170.4
.441
25.8
1,245
1,177
2,099.3
164.7
168.2
211.4
18.3
9.7
2, 129. 6
' 158. 9
187.4
2,079.3
146 2
181 2
856.4
745.4
181. 5
858.1
723.5
170 3
r
20,743 19, 451
27,438 28,661
21,773
24, 730
19,802
25,523
17,099
21, 1P6
27, 451
29, 190
25, 270
29,687
27,213
25,025
27,232
28,425
29,907
34,536
27,351
25,248
27,509
32, 515
30,058
29, 950
19,277
10,329
14, 695
16, 276
11,281
18, 172
10, 511
13, 033
6,877
11,032
8,242
14,487
6,986
13, 266
4,510
8,861
6,049
13,358
4,305
6,439
4,935
10, 254
5,845
10,937
249,948
157,857
171, 102
164, 251
61.6
61.5
46.3
34.0
48.9
32.5
48.4
26.5
'46.3
34.0
37.2
25.9
293.7
298.1
84.0
232.2
186.5
72.5
250.0
228.6
70.2
254.8
199.6
69.4
232.2
186.5
r
72.5
222.9
185.9
68 8
Prices, manmade fibers, f.o.b. producing plant:
Staple: Polyester, 1.5 denier
$perlb~
.62
*.61
.61
.61
.61
.61
.61
.61
.61
.61
.61
.61
.61
.61
.61
.61
Yarn: Rayon (viscose), 150 denier...
do
Acrylic (spun), knitting, 2/20, 3-6D..do....
1.03
1.22
1.04
1.30
1.03
1.30
1.05
1.31
1.05
1.31
1.05
1.31
1.05
1.32
1.05
1.32
1.05
1.32
1.05
1.32
1.05
1.32
1.08
1.32
1.11
1.32
1.13
1.32
1.15
1.35
1.15
1.38
8.0
22.0
1.6
1.1
6.3
2.0
3.0
1.1
6.6
1.7
2.5
1.7
2.5
1.6
2.360
1.480
2.725
2.225
1.388
2.532
Stocks , producers', end of period:
Filament yarn (rayon and acetate)
.mil. lb..
Staple, incl. tow (rayon)
.do
Noncellulosic fiber, except textile glass:
Yarn and monofllaments
__
...do
Staple, incl. tow
do
Textile glass
fiber
_.
do
Manmade fiber and silk broadwoven fabrics:
Production (qtrly.), total 9mil. lin. yd-5, 530. 9
Fllament yarn (100%) fabrics 9
do
1, 723. 0
Chiefly rayon and/or acetate fabrics
do
506.2
Chiefly nylon fabrics
_._
.do
377.0
Spun yarn (100%) fab., exc. blanketing? ..do
3,062.6
Rayon and /or acetate fabrics and blends
do
428.2
Polyester blends with cotton
do
2, 190. 1
Filament and spun yarn fabrics (combinations
and mixtures)
mil. lin. yd...
515.4
WOOL AND MANUFACTURES
Wool consumption, mill (clean basis):
Apparel class
._
mil. lb..
16,876
16, 759
6,033.5
1, 895. 0
473.1
365.8
3,451.6
1,551.4
477.2
122.2
94.1
895.7
1,397.5
437.2
109.1
85.7
799.5
1, 529. 2
500.6
115.6
86.3
861.0
435.5
2,438.7
115.0
639.3
105.3
554.2
99 7
604.2
474.7
119.6
113.4
118.1
2
10.9
25.0
5.6
3.6
10.1
3.7
6.4
4.3
9.7
3.5
6.8
5.3
28.7
22.9
5.6
4.7
8.6
2.9
4.7
3.5
8.1
2.3
2.8
2.1
210.6
22.8
2.9
2.2
7.1
1.9
2.6
1.4
6.4
1.3
2.1
1.3
2.338
1.462
2.955
2.335
1.375
3.093
2.575
1.600
3.242
2.600
1.650
3.215
2.750
1.700
3.210
2.750
1.512
2.942
2.630
1.420
2.741
2.419
1.475
2.596
2.375
1.500
'2.818
142.2
76.4
96.6
71.8
112.4
41.4
59.8
40.6
Wool prices, raw, clean basis, Boston:
Good French combing and staple:
Graded territory,
fine..-.-$ per lb_.
Graded fleece, H blood
do
Australian, 64s, warp and half-warp ..
do .
1.157
.925
1.321
2.500
1.594
'3.035
Wool broadwoven goods, exc. felts:
Production (qtrly.)
101.8
' 106.0
30.8
934. Q
1.028.8
259.9
Wool imports, clean yield..
Duty-free (carpet class)
do
do
mil. lin. yd..
24.9
r
20.7
2
1.975
1.850
1.350 ' 1. 340
2.400 ' 2. 357
1.712
1.262
2.376
25.1
FLOOR COVERINGS
Carpet and rugs:*
Rugs, carpet, and carpeting, shipments, quarterly:
1
Total wnvpn t.nftAn
nthar
T
mil fin \TI\R
2
3
Revised.
1 Season average.
For 5 weeks; other months, 54 weeks.
Less than
500 bales.
« Price not directly comparable
with earlier data.
Annual total; revisions
6
not distributed by months or quarters.
Effective Nov. 1,1973, Little Rock, Ark., deleted
from market average.
" Preliminary season average based on sales through Mar. 1974.
256.6
261.0
*New series. Cotton market price (U.S. Department of Agriculture) available monthly
back to 1947. Carpet and rug shipments (Bureau of the Census) quarterly data back to 1968
are available. For 1973, data have been revised to omit estimates for rugs not specified by
kind; these estimates have been temporarily withdrawn.
9 Includes data not shown separately.
SUEVEY OF CURKENT BUSINESS
S-40
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown
in the 1973 edition of BUSINESS STATISTICS
1972
1974
1973
| 1973
Annual
June 1974
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
17, 007
16,482
19, 783
17,358
May
TEXTILE PRODUCTS—Continued
APPAREL*
Hosiery shipments
thous. doz. pairs
Men's apparel cuttings: cP
Suits
.thous. units
C oats (separate) , dress and sport
do
Trousers (separate) dress and sport
do
Slacks (jean's-cut) , casual*
-. . thous. doz
Shirts, dress and sport
do...
228,723
228, 269
17, 805
17, 875
22, 267
19, 851
23, 066
19,982
22, 077
18, 079
14,929
18, 174
18, 202
182, 034
16,701
18, 801
149, 747
13, 447
33, 392
1,649
1,697
13,339
1,342
2,768
1,372
1,665
15, 233
1,317
2,920
1,278
1,533
13, 262
1,316
3,001
862
1,125
9,529
1,206
2,113
1,480
1,689
13,706
1,010
2,942
1,401
1,541
11, 052
1,115
2,739
1,589
1,775
13, 050
1,121
3,067
1,471
1,660
11,536
1,029
2,956
1,142
1,260
8,877
1,053
2,439
1,571
20,648
1,677
740
1,751
16, 614
1,753
737
20, 914
Women's misses', juniors' apparel, cuttings :J
20, 877
Coats
thous. units.
221, 546
Dresses
do
Blouses and shirts
thous. doz. . 13, 824
5,319
Skirts
do
1,511 '
1,512
1, 384
1,499 r 1, 414
1,681
11, 931 f 10,819 15, 676
1,186
1,048 r ••968
2, 797 3,015
2,805
TRANSPORTATION EQUIPMENT
AEROSPACE VEHICLES
Orders, new (net), qtrly. total
U.S. GovernmentPrime contract..
Sales (net), receipts, or billings, qtrly. total
U.S. Government—
mil $
do
do
do
do
Backlog of orders end of period 9
do
U.S. Governmentdo
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. $
Aircraft (complete):
Shipments
. .
Airframe weight
Exports, commercial
do
thous Ib
mil $
6 908
4,442
6,252
5 646
3,597
6,912
4,201
6,214
6,462
3,809
967
473
507
763
29 229
16, 318
13 765
2 756
29, 679
16,710
13, 567
2,804
5,671
5 255
6 010
5,671
2,939
2 785
2,900
2,939
23, 842
14, 817
21,274
21,499
13, 492
27 034
15, 920
24, 414
24, 277
14, 532
26 922
15, 322
13, 060
2,572
29 679
16, 710
13 567
2,804
5,272
2,990
3 231.8 r4 598 2
47 694
64 370
1 608 7 2 311 o
6 099
3 709
5 567
6 532
3 723
27
15
13
2
436 9
5 376
145 2
332 2
4 630
89 0
r 252 4
4 196
125 0
11, 270. 7 12, 637. 3 1, 096. 5 1,219.8 1, 186. 3
10 646 8 11 865 7 1 021 5 1 140 4 1 122 5
8, 823. 9 9, 657. 6
940.9
921 3
844.0
8,352.5 9, 078. 8
880 1
786 6
873 3
2, 446. 8 2, 979. 7
278.9
252.5
265.0
2, 294. 4 2 786 8
234 8
249 2
260 3
949.1
898 3
714.0
677.5
235.1
220 8
640.1
603.6
440.3
415.7
199.7
187.8
1,086
909
961
808
838
686
11.5
435 8
7 121
205 o
599 6
7 698
314 2
454.2
5,717
254.5
516.8
6,855
256.6
321.5
3,437
134.6
'r 491. 6
6, 332
360.8
472.7
6,310
381.7
560. 0
5,766
300.5
943.4 1,231.9 1, 139. 8
878.0 1, 143. 7 1, 062. 3
887.8
955.5
716.9
827.1
887.2
666.1
252.0
276.4
226.5
235.1
256.5
211.9
737.9
691.9
540.0
507.1
197.8
184.8
855.9
787.6
599. 9
552. 1
256.0
235.6
781.4
708.3
551.9
501.5
229.5
206.8
857.9
774.1
616.0
557.1
241.9
217.0
928.6
841.0
681.1
617.4
247.6
223.7
913
778
694
574
684
568
780
654
817
703
285 8
4 112
210 9
252.2
3,856
88.7
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
Retail sales, new passenger cars :
Total, not seasonally adjusted
thous. .
DomesticsA...
do
ImportsA
do
Total, seasonally adjusted at annual rates mil
DomesticsA-. .
do
ImportsA
do
10,950
9,327
1,623
11, 457
9 676
1,781
875
754
979
858
1,025
863
1,146
972
12 4
10 5
19
12 5
10 7
18
11 6
9 7
18
11.8
10 0
1.8
9.9
1.7
1,600
1,765
1,654
1 480
1,648
1 452
1,708
1 593
1,612
1,592
1,387
1,553
2.0
ratio..
2.0
Exports (Bureau of the Census):
Passenger cars (new), assembled
thous
410. 25
509 19
To Canada
do
376. 23
452 37
Trucks and buses (new), assembled
do
120. 62
151 65
Imports (Bureau of the Census):
2, 485. 90 2 437 34
Passenger cars (new), complete units
do
842.30
From Canada total
do
871 56
429. 41
Trucks and buses t do
500 68
Truck trailers and chassis, complete (excludes
detachables) shipments ©
number rr 143 310 rf 154 541
95, 879 108 940
Vans
do
«•r 20, 009
Trailer bodies (detachable), sold separate., do
18, 626
20 250
Trailer chassis (detachable) sold separate
do
12 790
1.7
1.6
1.9
1.9
1.9
1.7
2.4
2.6
54.46
47.32
14.08
Retail Inventories, new cars (domestics), end of
period: A
Not seasonally adjusted
thous..
Seasonally adjusted
do .
1,311
1,454
174
162
178
153
Inventory-sales ratio, new cars (domestics) A
152
121
11.7
10.2
1.5
1,360
1,478
679
551
10.1
8.4
1.8
120
9.5
7.7
1.8
128
9.3
7.7
1.7
116
9.1
7.6
1.6
126
9.2
7.7
1.4
1,628
1,812
1,600
1,765
1,705
1,713
1,737
1,644
1,695
1,540
2.7
2.6
2.4
2.2
43.18
34.80
11.22
52.66
45.71
12.71
42.37
33.00
13.37
47.06
40.96
18.84
56.10
49.20
23.79
64.31
53.76
23.98
222. 18
84.03
46.80
245. 01
87.65
48.90
254.71
80.08
43.41
263.81
59.35
44.41
15,273
' 9, 508
1,190
'460
16 854
10, 978
2,000
1,040
15 605
10, 109
2,574
135
122
9.9
8.4
1.5
1,479
1,664
51 06
46 94
14 80
49 52
45 81
13 49
41 74
38 24
12 96
30 27
26 08
12 67
20.95
18.68
9.18
40.33
37.55
9.14
203 09
64 37
37 36
253 73
100 69
51 39
232 73
91 01
48 46
189. 15
56 34
37.68
149. 32
28.86
39.79
140. 56
61.60
36.96
203. 04
85.62
48.86
148. 03
52.77
37.35
252. 03
74.28
51.42
13 938
8 950
1,948
14 268
9 222
1,365
13 696
9 002
1,512
1 028
12 906
8,792
1,935
1,078
12, 997
8,690
12, 915
8,441
1,069
15, 585 14, 839 14, 201
10, 384 ' 10,290 r 9, 434
949
1,337
1,596
1,018
977
912
15,240
10, 130
1,887
1,027
707
696
Registrations (new vehicles):©
Passenger cars
thous . . K10,488 Hll r 351 4 968. 7 41,061.2 41,068.9 41,103.1
Imports, incl. domestically sponsored... do .. l 4 1,529 1 4 1, 720 4 147. 6 4 170. 6 4163.7 4 167. 3
Trucks
"do
i * 2,514 1 43, 029 4 262. 7 4264 7 4 279 2 4 281. 1
963
1,012
828
4 979. 6 4 815. 9
4 132. 6
3 275. 0 4 240. 8
3151.1
r
114
9.3
8.0
1.3
1,674
1,499
2
986. 4
2 726. 8
2 259. 6
882
767
115
9.4
8.2
1.2
1,655
1,461
2.1
808
4
4 919. 5
888. 6
4 116. 5 4119.6
4 252. 2 4 243. 4
4 875. 6
4 141. 8
4 248. 0
4 643. 4
4 110.8
4 190. 0
3 584. 9
3 103. 4
3 178. 2
'
650. 6 3 697. 9
3
114. 9 3106.4
s 210. 8 3 226. 2
6 373
6 016
13 535
13 410
57 313
55, 078
5 929
5 606
9 736
9 436
60 799
58, 606
5 246
4 820
11 797
11 745
67 199
65, 380
5 869
5' 701
11*246
8 991
79 622
68, 689
4 003
3 876
6,731
6 231
75 228
70, 922
5,355
5,112
10, 514
10, 345
79, 725
75, 493
RAILROAD EQUIPMENT
Freight cars (all railroads and private car lines):
Shipments
number
Equipment manufacturers
do
New orders.
do
Equipment manufacturers
do
Unfilled orders end of Deriod
do
Equipment manufacturers
do
Freight cars (revenue), class 1 railroads (AAR):§
Number owned end of period
thous
Held for repairs % of total owned
147 535
1 49 071
58 °52
CLA 014.
i 47 915 1105 765
1 X O tlAI
9-1 94.4.
17 666
1 1 fi9 1 ^fi
67 199
65 380
4 001
3 766
13 994
13 894
36 527
34, 267
4
4
6
6
38
35
677
390
551
121
027
624
4
4
11
in
647
414
664
Qfi4
4.4. 4fiQ
AC (YYj
41 600
43 189
1 407
1 395
1 403
1 40^
57
58
58
63
58
no i o
no fly
no in
OB ns
98 41
69.97
Average per car
tons..
69.93
69.83
70.38
69.53
T
J
Revised.
i Annual total includes revisions not distributed
by months.
Estimate
4
of production, not factory sales.
s Excludes 2 States.
Excludes 1 State.
} Revisions
appear in Census report, Men's and Women's Selected Monthly Apparel Cuttings, 1971-72
(MA-23A Supplement), Sept. 1973.
^Effective 1973, data reflect new benchmarks and
revised sampling; shirts include knits (from knitting mills) not included in data prior to 1973.
New series. Data cover all types of men's jeans, but exclude dungarees, overalls, and
work pants; no data available prior to 1973.
1 41 1
3 727
3 A(\fi
5 582
5 99.9
4 464
4 215
5 461
5 461
47 067
44, 408
4 797
4 505
8 142
7 449
50 781
47,714
4,723
4 418
13, 3939
11 41
88 335
82, 427
1 398
1 395
1 394
1 394
1 395
1 395
1 395
1 396
1 393
1 401
6.2
6.4
6.4
6 3
6.3
6 3
6 1
6 2
6 0
98 79
98 65
98 44
98 19
98 61
97 95
97 94
98 19
97 89
98 12
70.81
70.61
70.76
70^56
70.20
70.39
70.31
70.'
38
70.12
70.06
9 Total includes backlog for nonrelated products and services and basic research.
ADomestics include U.S.-type cars produced in the United States and Canada; imports
cover foreign-type cars and captive imports, and exclude domestics produced in Canada.
^Effective Sept. 1973 SURVEY, data include imports of separate chassis and bodies.
©Effective Feb. 1974 SURVEY, excludes shipments of dollies and converter gear.
OCourtesy of R. L. Polk <fe Co.; republicaticn prohibited.
§ Excludes railroad-owned private refrigerator cars and private line cars.
INDEX TO CURRENT BUSINESS STATISTICS, Pages S1-S40
SECTIONS
General:
Business indicators
Commodity prices
Construction and real estate
Domestic trade
1-7
8,,9
10,11
11-13
Labor force, employment, and earnings
Finance
Foreign trade of the United States
Transportation and communication
13-17
17-22
22-24
24-25
Industry:
Chemicals and allied products
Electric power and gas
Food and kindred products; tobacco
Leather and products
25, 26
26
27-30
30
Lumber and products
Metals and manufactures
Petroleum, coal, and products
Pulp, paper, and paper products
31
31-34
34-36
36,37
Rubber and rubber products
Stone, clay, and glass products
Textile products
Transportation equipment
37
38
38-40
40
Earnings, weekly and hourly
Eating and drinking places
Eggs and poultry
Electric power
Electrical machinery and equipment
3
15,16
12,13
»?'H2
5,9,26
4,6,
7,9,14,15,20,23,24,34
Employment estimates
Expenditures, U.S. Government
Explosives
Exports (see also individual commodities)
14
13,19
26
1,3,22-24
Failures, industrial and commercial
7
Farm income, marketings, and prices
2,3,8,9
Farm wages
16
Fats and oils
9,23,29,30
Federal Government
finance
19
Federal Reserve banks, condition of
17
Federal Reserve member banks
17
Fertilizers
9,25
Fire losses
11
Fish
29
Flooring, hardwood
31
Flour, wheat
28
Food products
1,4,6,8,9,14-16,20,22,23,27-30
Foreclosures, real estate
11
Foreign trade (see also individual commod.)
22-24
Foundry equipment
34
Freight cars (equipment)
40
Fruits and vegetables
8,9
Fuel oil
35,36
Fuels
4,8,9,23,34-36
Furnaces
34
Furniture
4,9,12-15
INDIVIDUAL SERIES
Advertising
11,16
Aerospace vehicles
40
Agricultural loans
17
Air carrier operations
24
Air conditioners (room)
34
Aircraft and parts
7,40
Alcohol, denatured and ethyl
26
Alcoholic beverages
11,27
Aluminum
33
Apparel...
1,4,8,9,11-16,40
Asphalt
35,36
Automobiles, etc
1,4,6,8,9,11,12,20,23,24,40
Gas, output, prices, sales, revenues
Gasoline
Glass and products
Glycerin
Gold
Grains and products
Grocery stores
Gross national product
Gross national product, price deflators
Gross private domestic investment
Gypsum and products
Balance of international payments
3
Banking
17,18
Barley
27
Battery shipments
34
Beef and veal
28
Beverages
. . . . 9,11,22,23,27
Blast furnaces, steel mills
5-7
Bonds, outstanding, issued, prices, sales, yields
20,21
Brass and bronze
33
Brick
38
Building and construction materials
4,6,
7,11,31,38
Building costs
10,11
Building permits
10
Business incorporations (new), failures
7
Business sales and inventories
5
Butter
27
Hardware stores
Heating equipment
Hides and skins
Highways and roads
Hogs
Home electronic equipment
Home Loan banks, outstanding advances
Home mortgages
Hosiery
Hotels and motor-hotels
Hours, average weekly
Housefurnishings
1,4,8,
Household appliances, radios, and television sets.
8,9,
Housing starts and permits
Cattle and calves
28
Cement and concrete products
9,11,38
Cereal and bakery products
9
Chain-store sales, firms with 11 or more stores. . .
13
Cheese
27
Chemicals
5,6,9,14-16,20,23,25,26
Cigarettes and cigars
30
Clay products
9,38
Coal
5,9,23,34,35
Cocoa
23,29
Coffee
23,29
Coke
35
Combustion, atmosphere, heating equipment
34
Communication
2,20,25
Confectionery, sale*.
29
Construction:
Contracts
,
10
Costs
..
10,11
Employment* unemployment, hours, earnings.. 13-16
Fixed investment, structures
1
Highways and roads
10,11
Housing starts
10
Materials output indexes
11
New construction put in place
10
Consumer credit
18
Consumer expenditures
1
Consumer goods output, index
4
Consumer price index
8
Copper
33
Cora
27
Cost of living (see Consumer price index)
8
Cotton, raw and manufactures
8,9,22,38,39
Cottonseed oil
30
Credit, short- and intermediate-term
18
Crops
3,8,27,28,30,38
Crude oil..
5,35
Currency in circulation
20
Dairy products
Debits, bank
Debt, U.S. Government
Deflators, GNP
Department stores
Deposits, bank
Dishwashers
Disputes, industrial
Distilled spirits
Dividend payments, rates, and yields
Drug stores, sales
3,8,9,27
17
19
2
12,13
17,20
34
16
27
2,3,20,21
12,13
5,9,26
1,35
38
26
19
8,9,22,27,28
12,13
1
2
1
9,38
12
9,34
9,30
10,11
28
9
11
11
40
25
15
ll,12
4,
12,34
10
Imports (see also individual commodities)... 1,3,23,24
Income, personal
2, 3
Income and employment tax receipts
19
Industrial production indexes:
By industry
4,5
By market grouping
4
Installment credit
13,18
Instruments and related products
4,6,14,15
Insurance, life
19
Interest and money rates
18
Inventories, manufacturers* and trade
5-7,11,12
Inventory-sales ratios
5
Iron and steel
4,9,11, 20, 23,31,32
Labor advertising index, stoppages, turnover
16
Labor force
13
Lamb and mutton
28
Lead
33
Leather and products
4,9,14-16,30
Life insurance
19
Livestock
3,8,9, 28
Loans, real estate, agricultural, bank, brokers*
(see also Consumer credit)
11,17,18,20
Lubricants
35,36
Lumber and products
4,9,11,12,14,15,20,31
Machine
tools
34
Machinery
4,6,7,9,14,15,20,23,24,34
Mail order houses, sales
12
Man-hours, aggregate, and indexes
15
Manmade fibers and manufactures
9,39
Manufacturers* sales (or shipments), inventories,
orders
5-7
Manufacturing employment, unemployment, production workers, hours, man-hours, earnings. . . 14-16
Manufacturing production indexes
4, 5
Margarine
29
Meat animals and meats
3,8,9,22,23,28,29
Medical and personal care
9
Metals
4-7,9,14,15,20,22,23,31-33
Milk
27
Mining and minerals
2,4,5,9,14-16,20
Monetary statistics
19, 20
Money supply
20
Mortgage applications, loans, rates
11,17,18,19
Motor carriers
24
Motor vehicles
1,4,6,8,9,11,20,23,40
Motors and generators
34
National defense expenditures
1,19
National income and product
1,2
National parks, visits
25
Newsprint
23,37
New York Stock Exchange, selected data
21,22
Nonferrous metals
4,6, 7,9,20,23,33
Noninstallment credit
18
Oats
Oils and fats
Orders, new and unfilled, manufactures*
Ordnance
27
9,23,29,30
7
14,15
Paint and paint materials
Paper and products and pulp
9,26
4-6,
9,14-16,20,23,36,37
Parity ratio
8
Passenger cars
1,4,6,8,9,11,12,20,23,24,40
Passports issued
25
Personal consumption expenditures
1
Personal income
2,3
Personal outlays
2
Petroleum and products
4-6,
8,9,14,15,20,23,35,36
Pig iron
31, 32
Plant and equipment expenditures
2
Plastics and resin materials
26
Population
13
Pork
28, 29
Poultry and eggs
3,8, 9,29
Price deflators, implicit, GNP
2
Prices (see also individual commodities)
8,9
Printing and publishing
4,14-16
Private sector employment, hours, earnings
13-16
Profits, corporate
2,20
Public utilities
2,5,10,20,21,26
Pulp and pulpwood
36
Purchasing power of the dollar
9
Radio and television
4,11,34
Railroads
2, 16, 17, 21, 24, 25, 40
Ranges
34
Rayon and acetate
39
Real estate
11,17,19
Receipts, U.S. Government
19
Recreation
8
Refrigerators
34
Registrations (new vehicles)
40
S
Rent (housing)
8
Retail trade
5,7,12-16,18
Rice
28
Rubber and products (inch plastics)
5,6,
9,14-16,23,37
Saving, personal
2
Savings deposits
17
Securities issued
20
Security markets
20-22
Services
1,8,14-16
Sheep and lambs
28
Shoes and other footwear
9,12,30
Silver
19
Soybean cake and meal and oil
30
Spindle activity, cotton
39
Steel (raw) and steel manufactures
23,31,32
Steel scrap
31
Stock market customer
financing
20
Stock prices, earnings, sales, etc
21,22
Stone, clay, glass products
4-6,9,14,15,20, 38
Sugar
23,29
Sulfur
25
Sulfuric acid
25
Superphosphate
25
Tea imports
29
Telephone and telegraph carriers
25
Television and radio
4,11,34
Textiles and products
4,6,9,14-16,20,23,38-40
Tin
33
Tires and inner tubes
9,12,13, 37
Tobacco and manufactures
5,6,8,14,15,30
Tractors
34
Trade (retail and wholesale)
5,11,12,14-16
Transit lines, local
24
Transportation
1,2,8,14-16,20-22,24, 25
Transportation equipment
4,6, 7f 14,15,20,40
Travel
24,25
Truck trailers
40
Trucks (industrial and other)
34,40
Unemployment and insurance
U.S. Government bonds
U.S. Government
Utilities
Vacuum cleaners
Variety stores
Vegetable oils
Vegetables and fruits
Veterans* benefits
Wages and salaries
Washers and dryers
Water heaters
Wheat and wheat flour
Wholesale price indexes
Wholesale trade
Wood pulp
Wool and wool manufactures
Zinc.
13,17
17-21
finance
19
2,5,8,10,21,22,26
34
If, 13
23,29,30
8,9
17
2,3,
15, 16
34
34
28
8,9
••
5,7,11 ,14-16
36
9,39
33
U.S. DEPARTMENT OF COMMERCE
BUREAU OF ECONOMIC ANALYSIS
WASHINGTON, D.C. 20230
OFFICIAL BUSINESS
Numbers .
Volume 54
1974
CONTENTS—SURVEY
DOMESTIC ECONOMY
1974 Business Capital Spending Plans
The U.S. Economy in 1973
Financial Developments
Income and Consumption
Investment
Exports and Imports
Government
Labor force and Employment.
Sources and Uses of Funds of Nonfarm Nonfinancial
Corporations: Size and Composition of Personal
Saving
Consumer Spending
Durable Goods Manufacturing
OF CURRENT
BUSINESS
DOMESTIC ECONOMY—Con.
No.
I
I
I
I
I
1
1
1
Page
11
12
15
19
20
23
24
26
1
2
2
2
31
2
4
14
The Input-Output Structure of the U.S. Economy:
2
1967
3
Recent Financial Developments
3
Recent Price Developments
3
Construction Expenditures
Revised Manufacturing and Trade Sales, Inventories,
3
and Inventory/Sales Ratios
Investment Programs and Sales Expectations for 1974
3
New Estimates of Fixed Nonresidential Business Capi3
tal in the United States, 1925-73
4
Labor Market Developments
4
Sources and Uses of Funds: Nonfinancial Corporations
1974 Business Investment Plans Largely Unaffected by
Energy Shortages
Subsidies Less Current Surplus of Government Enterprises and Government Transfer Payments to
4
Persons (Data)
Reconciliations of Major Statistical Series
Pt. 1—5
Recent Financial Developments.
Pt.
Recent Trends in Automobile Sales
Pt. 1—5
Recent Developments in Inventory-Sales Ratios...Pt. 1—5
Alternative Estimates of Corporate Depreciation and
Profits, 1965-73
Pt. 1—5
24
2
3
5
6
16
23
5
6
46
47
2
4
5
7
19
No.
: Housing Developments
Consumer Demand
Wages Under Collective Bargaining
Revised Estimates of Federal Budget
Public and Private Debt
1974 Plant and Equipment Expenditure Programs.
3
4
6
8
17
No.
Page
2
INTERNATIONAL TRANSACTIONS
Property, Plant, and Equipment Expenditures by
Majority-Owned Foreign Affiliates of U.S. Companies, 1973 and 1974
U.S. Balance of Payments Developments Fourth
Quarter and Year 1973
3
, . .Pt. 1—5
Balance of Payments—additional data for Table 9—
U.S. International Transactions, by Areas.
Pt. 1—5
International Travel and Passenger Fares in the U.S.
Balance of Payments: 1973
Pt. 1—5
U.S. Multinational Companies: Profitability Financial
Leverage, and Effective Income Tax Rates
Pt. 1—5
U.S. Balance of Payments Developments: First Quarter
1974
6
28
34
9
10
22
27
20
REGIONAL ECONOMICS
s
v
No. Page
Recent Developments in Regional and State Personal
Income
1
28
State and Regional Income in 1973
4
16
State Projections of Income, Employment, and
Population to 1990
4
19
Local Area Personal Income
Pt. II—5
1
:
LATEST SUPPLEMENT—Business Statistics 1973 Biennial Edition (S.N. 0324-00233): Price $5.15
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