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JUNE 1976 / VOLUME 56 NUMBER
SURVEY OP CURRENT BUSINESS
CONTENTS
U.S. Department of Commerce
THE BUSINESS SITUATION
1
Revised First-Quarter Corporate Profits and GNP
3
Federal Budget Developments
3
National Income and Product Tables
5
Business Raises 1976 Capital Spending Plans
13
George Jaszi / Director
Morris R. Goldman / Deputy Director
Report of the Advisory Committee on the Presentation
of Balance of Payments Statistics
18
U.S. International Transactions 5 First Quarter 1976
28
SURVEY OF CURRENT BUSINESS
Editorial Board: Jack J. Bame, Carol S. Carson,
John E. Cremeans, Martin L* Marimont, Beatrice
N. Vaccara, Charles A. Waite, Allan H. Young
Elliot L. Richardson / Secretary
Bureau of Economic Analysis
Editor: Dannelet A. Grosvenor
Statistics Editor: Leo V. Barry, Jr.
Graphics Editor: Billy Jo Hurley
Staff Contributors to This Issue: Carol S. Carson,
Louis J. Moczar, Joseph C, Wakefield, John T.
Woodward, Allan H. Young, Balance of Payments
Division
CURRENT BUSINESS STATISTICS
General
S1-S24
Industry
S24-S40
Subject Index (.Inside Back Cover)
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the BUSINESS SITUATION
CHART 1
Personal Income
Billion $ (Ratio scale)
1,5001
Total
1,000
800
_
Private Wage and Salary Disbursements
600
Vr ITH the aid of the information
available as of mid-June, key elements
of which are shown in table 1, it is
possible to provide an overview of the
second-quarter economic situation in
the framework of the national income
and product accounts (NIPA's). Real
GNP continued to increase, but at a
much slower pace than in the first
quarter. Inflation accelerated somewhat, but remained well below the
rates recorded in 1975.
500
GNP prices and components
400
Other Income*
300
200 _
Government Wage and Salary Disbursements*
150
100
80
Transfer Payments Less
Contributions for Social Insurance
60 50 40 Farm Proprietors' Income
30
25
20 -
15 I i t m t t 1.1 n I i i i n I M i i i I i i i.i.i I t t i t i
*
1973
1974
1975
1976
Seasonally Adjusted at Annual Rates
* Other labor income, nonfarm proprietors' income, rental income of
persons dividends, and personal interest income.
** Includes government enterprises.
U.S. Department of Commerce, Bureau of Economic Analysis
76-6-1
The increase in real final sales appears
to have decelerated. This is not surprising in the light of the analysis of PCE
in the April SURVEY, where the point
was made that the large first-quarter
increase in PCE was mainly in motor
vehicles, food, and energy goods and
services, and that it was improbable
that a similar large increase would occur
in the second quarter. Business plans
reported in the BEA plant and equipment survey, which are summarized
later in this issue, suggest a very sharp
increase in fixed nonresidential investment, but it is likely that actual expenditures will fall short of plans, as
they did in the first quarter. As generally expected, residential investment
continued to increase at a moderate
rate.
The extremely low rate of increase in
the GNP implicit price deflator in the
first quarter—3.6 percent at an annual
rate—was largely due to temporary
decreases in personal consumption expenditures (PCE) prices of food and
energy. These prices began to increase
Personal income and PCE
during the second quarter. On the basis
Personal income increased about $10
of reasonable assumptions about June,
prices of food and energy for the second billion (annual rate) in April and $11
quarter as a whole were moderately billion in May (chart 1). If the May
higher than in the first quarter. In level is taken as representative, the
constrast, the average of other GNP increase in the second quarter was about
prices appears to have increased at the same as in the first quarter—about
about the same rate. As a result, overall 10 percent at an annual rate. Transfer
inflation accelerated, but only moder- payments were down in both April and
ately. As explained in the April issue May, as unemployment insurance beneof the SURVEY OF CURRENT BUSINESS, fits continued to drop and the accelerfurther increases in food and energy ated payment of dividends on veterans
prices can be expected during the rest life insurance ended. The latter had
of the year, and mainly for this reason, been a major factor in the first-quarter
advance in transfer payments. For the
overall inflation is likely to be higher.
quarter
as a whole, transfer payments
Comprehensive information on inshowed
little
change, in contrast to the
ventories is available only for April,
$6%
billion
advance
in the first quarter.
and a reliable estimate of secondPersonal
income
less
transfer payquarter inventory investment cannot be
ments—often
called
personal
income
made. However, it is extremely unlikely
that the rapid acceleration of inventory from production—increased much more
investment that occurred in the first than in the first quarter. The acceleration was due mainly to farm proprietors'
quarter was matched in the second.
SUEVEY OF CUEEENT BUSINESS
June 1976
the largest component of motor vehicle of the personal saving rate are subject
expenditures, are available on a to considerable margins of error.
monthly basis, and show that unit sales
Employment and hours
peaked in March and fell off subsequently. All other goods combined conEmployment, as measured in the
tinued to show little change, and all household survey, increased 700,000 in
other services continued to grow April and 300,000 in May. These inmoderately.
creases averaged a little higher than
The increase in disposable personal in the first quarter. The unemployment
income was a little smaller than in total rate dropped 0.2 percentage points in
personal income, as personal tax pay- May, after holding steady at 7.5 perments—because of high net final settle- cent in April. The May rate of 7.3 perments—rose disproportionately (chart cent was 1.6 percentage points below
2). Eeal disposable income increased the peak of 8.9 percent a year earlier.
about 5 percent at an annual rate. The
As measured in the establishment
personal saving rate rose substantially survey, the April employment increase
from 7.6 percent in the first quarter. of 300,000 was in the same range as the
Inasmuch as personal saving is the dif- increases during the first quarter. The
ference between two items—disposable May increase was only 50,000, but was
personal income and personal outlays— depressed about 150,000 by strikes,
both of which are very large in relation the largest of which was in the rubber
to it, estimates of personal saving and industry. (The household survey counts
striking workers as employed, the esTable 1.—Key Economic Indicators
tablishment survey does not.)
[Percent change from preceding period, seasonally adjusted]
Average weekly hours of production
Annual rates
or
nonsupervisory workers in the private
1976
nonfarm
economy recovered in May
1975
1976
from the April level, which had reMar.
I
II
IV
I
Jan.
III
Feb.
Apr.
May
flected the observance of both Easter
and Passover in the survey period. At
Based on constant (1972) dollars
36.3 hours, May was a little higher than
Personal consumption expenditures. .
8.0
4.0
4.1
6.4
-0.5
1.3
1.4
-0.3
-0.7
March, but still below the peak of
1.8
Motor vehicles and parts
4.2
-1.4
6.3
-1.7
21.4
1.6
55.7
12.4
57.8
-1.5
Other durables
7.2
10.2
.5
15.0
.9
-.1
-4.4
-3.3
1.4
-1.5
36.5 hours in January The index of
Nondurables
1.5
6.5
1.4
-1.2
3.6
-.9
2.6
8.3
2.6
-1.8
Services
5.4
.5
-.1
.5
2.4
.5
.4
3.8
.8
.5
aggregate weekly hours increased mod-.2
Residential structures
.4
-42.4
4.0
57.5
12.6
33.1
-1.6
2.8
2.7
erately in April and strongly in May.
Nonresidential structures
.2
14.1
12.0
-3.2
-2.7
-15.1 -25.3
6.9
-.3
Unlike average hours, aggregate hours
Based on current dollars
in May exceeded the peak they had
reached earlier in the year. Taking May
Plant and equipment expenditures
(BEA survey).
-7.2
-5.6
-1.1
-1.3
10.9
as representative of the quarter, there
Personal income
1.0
.4
3.0
13.0
1.1
.7
6.9
10.7
9.9
1.1
was a 4.0 percent (annual rate) increase
Based on index numbers
in aggregate hours, as compared with
5.6 percent in the first quarter.
.1
Consumer Price Index
.2
.4
6.2
.4
.6
8.3
6.6
4.6
8.3
Food
-.2
-1.0*
.6
4.0
6.4
-2.4
1.0
12.3
-.8
5.8
As can be seen, the major blocks of
2
CoTnmoditip.s less food
.3
6.2
7.5
8.4
3.5
.3
.3
.6
4.3
Services. ._
.5
10.2
l'.l
.7
.7
.4
7.1
6.7
9.1
10.9
information—GNP,
personal income,
Addendum: energy *
-1.2
-.4
10.0
-5.4
-.4
-.3
25.8
9.9
.9
2.3
and
hours—cannot
yet
be quantified
Wholesale Price Index
-.2
.2
.8
-2.1
9.2
-.4
3.3
7.9
.3
Farm products
4.2
-1.0
-2.5
.6
-29.4
24.5
9.6 -17!o
-2.3
23.8
firmly
for
the
second
quarter.
As they
Processed foods and feeds
.2
1.9
-12.2
.0 -15.5
-1.6
-1.5
8.0
-1.9
1.3
.1
.3
.1
Industrial commodities
.4
.3
1.7
5.3
11.5
4.9
5.8
now stand, they suggest two implausible
Federal Reserve Index of Industrial
developments. First, the second-quarter
Production..
.5
.7
.7
14.5
12.5
11.0
1.1
-4.2
.8
-28.4
increase in GNP seems to fall short of
Based on millions
the increase in personal income from
production,
implying a drop in corCars, retail sales
6.7
6.6
-5.3
-.9
-4.0
61.1
1.9
79.5
90.6 -19.2
7.1
-2.6
New domestic-type
-6.3
5.6
5.3
103.7
77.4
77.7 -21.3
11.9
porate
profits,
which is the only major
Imported
17.2
1.1
9.7
6.2 -56.0 -11.3 -18.8
3.9
-9.6
154.7
component
of
income earned in the
2.5
25.2
-2.5
-8.4
12.2
Private housing starts
38.6
-3.7
30.7
106.8
-7.8
-3.4
Private building permits
.0
5.8
81.9
7.9
8.9
1.3
-46.6
189.8
26.8
production of GNP for which estimates
.1
.4
.2
Employment (establishment survey) . -7.1
-2.2
.3
.5
3.0
3.4
3.9
are not yet available. Second, the in7.3
7.5
7.5
Unemployment rate _
7.6
8.6
8.5
8.1
8.7
7.6
7.8
crease in aggregate hours seems to
1. Gasoline and motor oil, fuel oil and coal, and gas and electricity weighted by their December 1975 relative importance.
exceed
the likely increase in real private
2. Figures are percents, not percent changes.
income. After a decline of $3 billion in
the first quarter, farm proprietors'
income recovered in the second; the
recovery was due to higher prices
received by farmers for crops and livestock. Wages and salaries, and all other
incomes from production combined,
increased at about their first-quarter
rates.
The increase in real PCE in the
second quarter was less than half as
much as in the first. Motor vehicles,
food, and energy goods and services—
the items that were the main elements
in the first-quarter increase—accounted
for the second-quarter deceleration. Of
course, there were divergent movements
in the components. Most importantly,
it seems that gasoline and oil continued
to increase at approximately its firstquarter rate. Unit sales of new autos,
2
June 1976
SUKVEY OF CUEEENT BUSINESS
nonfarm GNP, implying a drop in $8% billion from the fourth quarter.
output per hour. These puzzles may be Gains in manufacturing and trade
resolved next month, when more com- more than accounted for the increase.
prehensive information, including the Most manufacturing industries showed
regular July revision of the NIPA's, increases; the largest was in motor
becomes available.
vehicles. Profits in both retail and
wholesale trade were up. NonmanuRevised First-Quarter
facturing industries other than trade
Corporate Profits and GNP
showed small declines. Profits from
Profits from current production— abroad and domestic profits of financial
corporate profits with inventory valua- corporations each increased more than
tion and capital consumption adjust- $1 billion.
Before-tax book profits were up
ments—were up $11 billion at a sea$10%
billion. These profits differ from
sonally adjusted annual rate from the
profits
from current production for two
fourth quarter of 1975. Compared with
reasons.
First, they reflect tax-return
the preliminary figures issued last
based
capital
consumption allowances,
month, the first-quarter total was
rather
than
"economic"
capital conrevised up $2 billion; most of the resumption
allowances,
which
are based
vision was in domestic profits of
on
uniform
service
lives
and
deprecianonfinancial corporations.
tion
formulas
and
replacement
cost
On the revised basis, domestic profits
valuation.
Second,
they
include
inof nonfinancial corporations increased
ventory profits, which arise when inventories used up are valued at
historical rather than at replacement
Disposable Personal Income and
cost. The effects of these differences on
Personal Saving Rate
the change in profits were largely
offsetting in the first quarter.
Income originating in the rest of the
world—including profits and interest
flows—is a component of GNP. As a
result of information from BEA's
quarterly survey of foreign direct
investment, first-quarter GNP was
revised up about $1 billion. Gross
domestic product, which does not
include income from abroad, was not
revised.
Billion $ (Ratio scale)
1,300
1,200
DISPOSABLE PERSONAL INCOME
(Annual rate)
Current $
1,100
1,000
900
Constant (1972)$
800
Federal Budget Developments
700
Percent
10
PERSONAL SAVING RATE*
_L
1973
I
1974
1975
Seasonally Adjusted
_L
1976
• Projected
*Persona! saving as a percentage of disposable personal income.
U.S. Department of Commerce, Bureau of Economic Analysis.
76-6-2
As required by the Congressional
Budget and Impoundment Act of 1974,
Congress passed in mid-May the first
resolution on the budget for fiscal year
(FY) 1977, which begins October 1,
1976. This resolution sets targets for
Congress as it considers spending and
revenue legislation for the coming
fiscal year. The first resolution sets
targets for budget totals and 17 budget
functions. The functional targets are
intended to represent broad priorities,
not specific judgments as to the mix of
programs within each function; the
latter is subsequently determined by
congressional committees. A second
resolution, which must be adopted by
September 15, will set final totals for
revenue and spending. If the committee
decisions do not meet the first resolution targets, the second resolution
must provide for a final reconciliation
by changing one or more of the following: (1) appropriations, (2) revenues,
or (3) the public debt.
First congressional budget resolution
The first resolution recommends extension of the 1975 tax cuts through
FY 1977 and rejects the additional
tax reductions proposed in the January
budget. The receipt estimate does not
include an increase in the social security tax rate or in the unemployment
tax rate and base proposed in the
budget. The resolution also recommends: (1) a net $2 billion increase in
receipts through tax reform, and (2) an
unspecified reduction in expenditures
to be realized through changes in the
Federal pay structure and in various
programs such as food stamps, public
assistance, medicare, and medicaid.
However, the reductions are not expected to be as large as the $20 billion
proposed in the budget. The resolution
also provides for significantly more
spending for various job programs, such
as for public service jobs, training, and
accelerated public works.
The resolution estimates are based on
economic assumptions that differ somewhat from those underlying the budget.
Forecasts of GNP, personal income, and
corporate profits for calendar year 1977
are not significantly different from those
in the budget. However, lower rates of
unemployment and inflation are assumed in the resolution. The following
table compares the economic assumptions underlying the budget and the
first resolution.
(Calendar year 1977, billions of dollars except where noted)
January
budget
Gross national product:
Current dollars
Percent change
Constant (1972) dollars..Percent change
Incomes:
Personal income
Corporate profits before tax
Unemployment rate, percent
Consumer Price Index, percent
change
Interest rate, 91-day Treasury
bills percent
First
concurrent
resolution
1, 890. 0
12.2
1, 332. 0
5.7
1,885.0
11.9
1,338.0
6.0
1, 538. 0
181.0
6.9
1, 542. 0
183.0
6.5
6.0
5.5
5.5
5.8
SURVEY OF CURRENT BUSINESS
June 1976
Table 3.—Unified Budget Outlays by
FY 1977 receipts are $8.1 billion higher
Function, Fiscal Year 1977
than estimated in January, expendi[Billions of dollars]
tures are $18.1 billion higher, and the
January
First
Differdeficit is $10 billion higher (table 2).
Function
budget concurrent
ence
resolution
Personal tax and nontax receipts are
$9.5 billion higher, corporate profits National defense
100 8
101.1
—0 3
affairs.
_ 2
6.8
66
tax accruals are $5.4 billion higher,1 International
General science, space, and
o
technology
45
45
indirect business tax and nontax ac- Natural
resources, environment, and energy
13 8
15 7
cruals are unchanged, and contributions
19
3
2o
17
for social insurance are $6.8 billion Agriculture
Commerce and transportation
16 5
17 7
12
lower.
Community and regional
development . _ _
5.5
The resolution recommends signifi2 3
78
Education,
employment,
and social services
16.6
23 0
cantly higher spending for grants-in6 4
37 9
34 4
aid ($11.6 billion), mainly for public Health
35
1
Income security
137.1
2.2
139. 3
service jobs and other employment Veterans benefits and serv17.2
ices
..
19 5
2 3
programs, including public works. Law enforcement and
1
3.4
justice
35
Higher spending is also recommended
.1
General government
_ .
3.4
3.5
for personal transfer payments for such Revenue sharing and fiscal
0
7.4
assistance
7 4
programs as medicare, food stamps, and Interest 2
40.4
41.3
-.9
1.2
Allowances
2.3
-1.1
veterans benefits. On balance, all other
Undistributed
offsetting
expenditures are $0.2 billion above the
-18.8
-17.4
1.4
receipts - January estimate. There are increases
394.2
413.3
Total outlays
19.1
in nondefense purchases ($1.2 billion)
1. Excludes $1.2 billion for the earned income credit which
and in subsidies less the current surplus is included as a negative receipt in the resolution but as an
Federal sector of the NIPA's
outlay in the budget.
of government enterprises ($0.9 billion),
2. Includes funds for civilian pay increase and for
contingencies.
BEA has prepared estimates of the and decreases in net interest paid ($1.5
Federal sector on the national income billion), defense purchases ($0.3 billion),
and product accounting (NIPA) basis and foreign transfer payments ($0.1 July 15. However, in early June, OMB
consistent with the first concurrent billion).
estimated receipts at $351.5 billion,
resolution. These estimates are based
Revised administration estimates
only slightly higher than in the January
on very little program detail and are
A comprehensive review by the Office budget and expenditures at $397.2
tentative. All comparisons in this section are with the NIPA translation of of Management and Budget (OMB) of billion, $3 billion higher. The resulting
the January budget. On the NIPA basis, the FY 1977 budget is not due unti deficit of $45.7 billion, was correspondingly higher than in the January
budget.
The receipt estimate continues to
reflect tax changes proposed by the
Table 2.—Federal Government Receipts and Expenditures, Fiscal Year 1977
administration, modified only to reflect
[Billions of dollars]
the shift of the proposed writeoff of
silver certificates into FY 1977. Much
January First concurrent Difference
resolution
budget
of the expenditure revision is due to
congressional rejection of proposed exUnified budget:
penditure
reductions—largely for edu11.2
362.5
351.3
Receipts
-19.1
394.2
413.3
Outlays
cation
and
health ($1.1 billion). Higher
-7.8
-50.8
-43.0
Surplus or deficit ( — )
outlays
for
strategic petroleum reserves
National income and product accounting basis:
add
$0.9
billion,
and a revised estimate
8.1
364.7
372.8
Receipts
- -----of
the
cost
of
the
proposed long-term
9.5
160.4
169.9
Personal tax and nontax receipts
.-.
5.4
58.2
63.6
Corporate profits tax accruals
-- illness
insurance
under
medicare adds
.0
24.3
24.3
Indirect business tax and nontax accruals
_.
-6.8
121.8
115.0
Contributions for social insurance
another $0.7 billion.
The resolution estimates a deficit in
FY 1977 of $50.8 billion, $7.8 billion
higher than estimated in the budget
(table 2).
Receipts are more than $11 billion
higher, primarily because the resolution
rejects the tax reductions proposed in
the budget. Corporate income taxes and
individual income taxes—including the
increases resulting from tax reform—
are more than $17 billion higher. Social
insurance contributions are $6 billion
lower; all other taxes are about the
same.
FY 1977 outlays are $19 billion
higher than in the budget. For most
functional categories, particularly for
education, employment, and social services, higher spending—totaling almost
$22 billion—is recommended (table 3).
Lower spending—totaling more than
$2 billion—is recommended for only
four functions.
Expenditures
Purchases of goods and services
- National defense
.. Nondefense
Transfer payments
To persons
To foreigners
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 (—)
.
.
...
404.5
422.6
18.1
139.4
92.8
46.6
168.2
164.4
140.3
92.5
47.8
174.4
170.7
.9
-.3
1.2
6.2
6.3
59.3
32.0
70.9
30.5
-39.8
-49.8
3.8
5.6
.0
3.7
6.5
.0
-. 1
11.6
-1.5
.9
.0
-10.0
1. Corporate profits taxes are recorded on an accrual basis
in the NIPA's, on a collection basis in the unified budget.
The upward revision in corporate tax accruals is less than the
upward revision in corporate tax collections mainly because
of a congressional assumption about the pattern of corporate
tax collections. It is assumed that corporate collections will
shift so that collections will be lower in calendar year 1976
but higher in FY 1977; accruals are not affected.
SUKVEY OF CURKENT BUSINESS
June 1976
NATIONAL INCOME AND PRODUCT TABLES
1974
1974
1975
I
IV
II
1974
1976
1975
III
IV
I
1974
1975
1975
IV
I
II
1976
III
IV
I
Seasonally adjusted at annual rates
Seasonally adjusted at annual rates
Billions of 1972 dollars
Billions of current dollars
Table 1.—Gross National Product in Current and Constant Dollars (1.1, 1.2)
1,406.9 1,498.9 1,441.3 1,433.6 1,460.6 1,528.5 1, 572. 9 1,620.4 1,210.7 1, 186. 1 1,186.8 1,158.6 1, 168. 1 1,201.5 1, 216. 2
Gross national product
Personal consumption expenditures
Durable goods
Nondurable goods
Services
- -
- --
- - -. .
1,241.8
885 9
963 &
908 4
926 4
950 3
977 4 1 001.0 1,029 6
759 8
766.9
748.9
752 3
764.1
771.6
779 4
794 5
121.9
375.7
388 3
128.1
409.8
426 0
117.3
387.1
404 0
118.9
394.1
413 4
123 8
404.8
421 6
131.8
416.4
429 2
137.6
423.7
439.7
145.9
430.8
452.9
112.5
303.0
344 4
109.5
306.6
350.7
102.9
298.9
347.2
104.0
300.8
347.5
106.5
306.9
350 8
112.3
308.0
351.2
115.3
310.7
353 3
120.8
315.7
358.0
212.2
182.6
210.3
168.7
161.4
194.9
205.4
232.2
180.0
138.3
166.9
129.7
124.1
147.8
151.4
168.1
Fixed investment
- - Nonresidential
Structures
Producers' durable equipmentResidential . _ •
Nonfarm structures
Farm structures
Producers' durable equipment. . .
202 5
147 9
54 4
93.5
54.6
52 2
10
13
197.3
148 5
52.7
95.8
48.7
46 8
6
1.3
199 8
151 1
56 1
95 0
48.7
46 3
12
13
193.5
149 3
54 9
94.4
44.2
42 6
4
12
191. 1
146 1
51 1
95.0
45.0
43 1
5
13
197. 1
146 7
51 2
95.6
50.4
48 2
8
14
207.4
151.9
53.6
98.3
55.4
53.3
.7
1.4
216.7
158.1
55.5
102.6
58.6
56.5
.7
1.5
172.2
127 5
42.7
84.9
44.7
42 6
.8
1.3
148.8
112.2
37.2
75.1
36.6
35.0
.4
1.1
159.3
120.8
40.5
80.3
38.5
36.4
.9
1.2
148.7
115.2
38.9
76.3
33.6
32.3
.3
1.0
144.8
110 8
36.2
74.7
34.0
32.4
.4
1.1
148.7
110.6
36.2
74.5
38.0
36.2
.6
1.2
153.0
112 3
37.4
74.9
40.7
39.0
.5
1.2
157.5
115.5
38.5
77.0
42.0
40.2
.5
1.2
Change in business inventories
Nonfarm .. . - _ .
Farm
9 7
11 6
—1 9
— 14.6
-16.5
19
10 4
13 7
—3 2
—24 8
—23 3
—1 5
—29 6
-29.6
_ i
—2 1
—5 7
36
—2.0
-7.5
5.6
15.5
11.3
4.2
7.7
8.5
— 8
-10.5
-11.8
1.3
7.6
9.0
— 1.5
-19.0
-17.9
— 1.2
-20.7
-20.6
—.1
—.8
-3.3
25
-1.6
-5.3
3.7
10.7
7.8
2.9
7.7
21.3
8.2
17.3
24.2
22.1
21.7
9.3
16.6
23.4
17.4
21.5
24.9
23.5
23.8
17.4
Gross private domestic investment. - - -
-
.. ...
Net exports of goods and services _ . .
144 2
136.5
147 8
126.5
153 6
145 3
148 2
130.9
140 7
116.4
148 5
126 4
153.8
132.1
154.2
144.9
97.6
81.0
90.6
67.2
95.7
78.3
90.7
69.2
86.8
62.0
90.8
67.3
94.0
70.2
93.8
76.4
Government purchases of goods and services .
301.1
331.2
314.4
321.2
324.7
334.1
344.8
349.2
254.3
257.6
253.6
255.1
254.9
258.7
261.6
261.7
Federal
- - - - - - - - - - - National defense
Nondefense
State and local _ _ .
_..
......
111.7
77 4
34 3
189.4
123.2
84 0
39 2
208.0
118.2
80 5
37 7
196.3
119.4
81 4
38 0
201.9
119.2
82 1
37 1
205.5
124.2
84 9
39 3
209.9
129.9
87 4
42.5
214.8
131.1
87.0
44.1
218.1
95.0
94.3
94.7
93.7
92.4
94.9
96.1
95.8
159.3
163.3
158.9
161.4
162.5
163.8
165.5
165.9
Exports
Imports
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
Final sales
Change in business inventories
Durable goods
Final sales.. . .
Change in business inventories
... .
_. .
Nondurable goods Final sales
Change in business inventories
Services
Structures
1,406.9 1, 498. 9 1,441.3 1,433.6 1,460.6 1,528.5 1, 572. 9 1,620.4 1,210.7 1, 186. 1 1,186.8 1, 158. 6 1, 168. 1 1,201.5 1, 216. 2
1,241.
1 397.2 1 513.5 1 430 9 1 458 4 1 490 2 1 530 6 1 574.9 1 604 9 1 203.0 1, 196. 6 1 179.3 1, 177. 6 1, 188. 7 1, 202. 4 1,217.8
-1.6
-.8
—2 1
-2.0
15.5
7.6 —19.0 -20.7
7.7 -10.5
9.7 —14.6
10 4 —24.8 —29.6
1,231.
10.'
636 3
676 3
647 7
635 4
653 9
698 9
716.8
739.4
549 9
530.1
531.9
510.1
518.4
542.7
549.4
566.*
626 5
9 7
690 9
— 14 6
637 3
10 4
660 2
—24 8
683 5
—29 6
701 1
—2 1
718 7
—2.0
723 9
15.5
542 2
7 7
540 7
—10.5
524 4
7.6
529.2
-19.0
539.0
-20.7
543.5
-.8
551.0
-1.6
556.1
10.
246.1
238.5
7.5
251.1
261.7
-10.6
254.1
239.3
14.9
229.2
243.8
—14.6
243.3
258 8
—15.5
261.9
267 5
—5.6
269.9
276.7
-6.8
277.5
282.0
-4.6
223. 5
217.7
5.8
203.4
211.4
-7.9
215.9
205.2
10.7
191.6
203.4
-11.7
198.2
209.7
-11.5
210.7
214.3
-3.7
213.3
218.1
-4.7
218.1
221.'
-3.
390.2
388 0
2 2
425.2
429 2
—4 0
393.6
398.0
—4 4
406.2
416 4
—10 2
410.6
424 7
—14 1
437.0
433 5
35
446.9
442 1
4 8
461.9
441.9
20.0
326.5
324 5
1.9
326.7
329 3
-2.6
316.1
319 2
-3.1
318.5
325.8
-7.3
320.2
329.4
-9.2
332.0
329.2
2.8
336.1
332.9
3.1
348.,
33^
Ic
624 1
681 3
649 7
659 3
672 0
688 1
705 9
726.9
544 7
554.4
548 1
548.1
552.5
556.7
560.3
567.
97.2
102.2
106.4
107.
146 6
141 3
143 9
138 9
134 6
141 4
150 3
154.1
116 1
101.5
106 8
100.4
Table 3.—Gross National Product by Sector in Current and Constant Dollars (1.7, 1.8)
Gross national product _ . ...
Gross domestic product
Business.
Nonfarm P
. .
Farm.
Statistical discrepancy
Residual p 1 .-.
Households and institutions
Government
Federal _ .
State and local
Rest of the world
... . .
1,406.9 1, 498. 9 1,441 3 1, 433. 6 1,460 6 1,528 5 1, 572. 9 1,620.4 1 210.7 1, 186. 1 1, 186. 8 1, 158. 6 1, 168. 1 1,201.5 1, 216. 2
1, 392. 5 1, 488. 4 1,426 6 1, 424. 0 1,450 6 1,516 9 1, 562. 2 1, 607. 7 1, 203. 7 1,181.3 1, 180. 3 1, 154. 3 1, 163. 5 1, 196. 1 1,211.3
1,241.8
979.5 1,011.1 1, 025. 7
954.3 977.1 985.1
36.8
36.5
32.3
1, 049. 4
1, 008. 1
38.0
1 186 6 1 262 6 1 °13 2 1 205 5 1 227 4 1 289 ? 1 328 3 1 369 5 1 024 4
1, 138. 7 1 215 2 1 161 7 1 162 9 1 191 3 1 237 5 1 269 0 1 313 0 993 5
52 1
54 4
48 5
48 6
31 5
50 1
45 8
45 1
55 0
2 Q
29
4 4
50
— 6
32
89
32
—.5
1, 236. 1
-2.1
2.4
-2.6
-7.1
-2.5
3.9
3.4
44.8
49.5
46.5
47.5
48.7
50.2
51.6
52.9
38.5
39.2
38.4
38.8
39.2
39.4
39.2
39.8
161 1
54 7
106.4
176 3
58 8
117 4
166 9
56 9
110 0
170 9
57 6
113 3
174 5
58 1
116 4
177 4
58 6
118 8
182 2
61 0
121 2
185 3
61 6
123 7
140 8
47 9
92 9
145 1
47 8
97.3
141 8
47.9
94.0
143.5
47.9
95.7
144.8
47.8
97.0
145.7
47.8
97.8
146.3
47.7
98.7
146.9
47.6
99.3
14.4
10.5
14.8
96
10.0
11.6
10.7
12.7
7.0
4.8
6.5
4.3
4.5
5.4
4.9
5.7
p Preliminary.
1. Equals GNP in constant dollars measured as the sum of final products less GNP in
constant dollars measured as the sum of gross product by industry.
NOTE.—Final sales is classified as durable or nondurable by type of product. Change in
997 1 1 000 1 972 1
965.8
939.6
964.0
35.0
31 9
35 1
business inventories is classified as follows: for manufacturing, by the type of product producedby the establishment holding the inventory; for trade, by the type of product sold by tne
establishment holding the inventory; for construction, durable; and for other industries,
endurable.
SURVEY OF CURRENT BUSINESS
1974
1974
1975
IV
1975
I
II
June 1976
1974
1976
III
IV
I
1974
1975
IV
1975
I
Seasonally adjusted at annual rates
1976
II
III
IV
I
Seasonally adjusted at annual rates
Billions of current dollars
Billions of 1972 dollars
Table 4. —Net National Product and National Income by Sector in Current and Constant Dollars (1.11, 1.12)
Net national product
Net domestic product
Business
Nonfarm p
Farm
Statistical 1discrepancy
Residual*
.
..
Households and institutions
G o vernment
Rest of the world
National income -
1,272.9 1, 346. 9 1,299.3 1,288.2 1,311.1 1,373.8 1,414.4 1,457.2 1,094.0 1,063.8 1,067.6 1,038.5 1,046.8 1,078.6 1,091.4
1,116.0
1,258.5 1,336.4 1,284.5 1,278.6 1,301.1 1,362.1 1,403.6 1,444.6 1,087.0 1,059.1 1,061.2 1,034.3 1,042.3 1,073.2 1,086.5
1,110.3
1, 052. 5 1,110.6 1, 071. 1 1, 060. 2 1, 078. 0 1, 134. 5 1, 169. 8 1, 206. 4
907.7
874.8
880.9
852.0
858.2
888.2
900.9
923.7
1, 014. 7 1,073.9 1, 030. 0 1, 028. 0 1, 052. 4 1, 093. 5 1,121.4 1,161.0
44.2
43.4
38.2
35.3
39.3
34.5
40.9
38.5
884.8
23.5
849.9
27.0
854.8
23.7
827.6
26.9
841.2
24.2
862.3
28.4
868.5
28.6
890.5
-.5
38.5
140.8
-2.1
39.2
145.1
2.4
38.4
141.8
-2.6
38.8
143.5
-7.1
39.2
144.8
-2.5
39.4
145.7
3.9
39.2
146.3
3.4
39.8
146.9
-.6
-2.6
2.9
-3.2
-8.9
-3.2
5.0
4.4
44.8
161.1
49.5
176.3
46.5
166.9
47.5
170.9
48.7
174.5
50.2
177.4
51.6
182.2
52.9
185.3
14.4
10.5
14.8
9.6
10.0
11.6
10.7
29.8
12.7
7.0
4.8
6.5
4.3
4.5
5.4
4.9
5.7
1, 141. 1 1,207.8 1,161.3 1,155.2 1,180.8 1,232.5 1,262.6 1,303.3
977.4
947.8
948.5
924.7
935.9
962.7
968.1
992.1
1,126.7 1, 197. 3 1,146.5 1, 145. 6 1,170.8 1,220.9 1,251.9 1,290.7
970.4
943.1
942.0
920.4
931.4
957. 3
963.2
986.4
920.8
971.5
933.1
927.1
947.6
993.3 1, 018. 0 1,052.5
791.0
758.8
761.7
738.1
747.3
772.3
777.6
799.8
884.0
36.7
934.7
896.9
894.2
36.2
32.9
951.7
41.5
977.3 1, 014. 3
36.8
915.7
31.9
730.2
28.6
736.6
25.2
709.4
28.7
721.6
25.7
742.3
30.0
747.6
30.0
768.6
44.8
49.5
46.5
47.5
48.7
Government
161.1
176.3
166.9
170.9
Rest of the world
14.4
10.5
14.8
9.6
Domestic income
Business
Nonfarm
Farm
Households and institutions
40.7
38.2
766.1
25.0
50.2
51.6
52.9
38.5
39.2
38.4
38.8
39.2
39.4
39.2
39.8
174.5
177.4
182.2
185.3
140.8
145.1
141.8
143.5
144.8
145.7
146.3
146.9
10.0
11.6
10.7
12.7
7.0
4.8
6.5
4.3
4.5
5.4
4.9
5.7
31.2
Table 5. —Auto Output in Current and Constant Dollars (1.16, 1.17)
Auto output
Final sales. .
.
Personal consumption expenditures New autos
Net purchases of used autos
Producers' durable equipment _.
New autos
Net purchases of used autos
Net exports
Exports.
._Imports
Government purchases of goods and services
Change in inventories of new and used autos
New.
Used
Addenda:
2
Domestic output of new autos
___
Sales of imported new autos 3
._--_-
42.9
42.1
44.5
45.6
40.6
38.5
34.6
40.7
42.5
43.0
53.0
48.5
47.6
50.1
58.4
56.8
40.2
39.6
39.4
40.3
36.1
33.8
32.1
37.3
38.0
38.1
46.5
42.8
40.8
43.0
49.2
48.3
36.4
27.6
8.7
7.8
11.7
-3.9
-2.7
4.6
7.3
.6
37.3
29.5
7.8
9.2
12.9
-3.8
-1.6
5.5
7.1
.7
32.4
23.3
9.1
6.8
10.6
-3.8
-1.3
5.3
6.6
.6
33.7
27.4
6.2
7.9
10.8
-3.0
-1.5
4.7
6.2
.6
34.5
26.9
7.6
8.7
12.2
-3.4
-.9
5.2
6.2
.7
39.4
31.0
8.4
10.7
15.1
-4.5
-2.2
5.8
8.0
.7
41.7
32.8
9.0
9.5
13.7
-4.2
-1.9
6.3
8.2
.7
48.0
38.8
9.2
10.8
15.0
—4.2
—2.8
6.0
8.8
.7
33.4
26.2
7.2
7.5
11.1
-3.6
-1.8
4.3
6.2
.6
31.7
25.7
6.1
8.5
11.2
-2.7
-.5
4.8
5.3
.6
27.5
20.9
6.7
6.4
9.5
-3.1
-.7
4.7
5.4
.5
29.9
24.5
5.4
7.5
9.7
-2.2
-.6
4.2
4.7
.5
29.5
23.5
6.1
8.0
10.6
-2.6
.0
4.6
4.6
.5
33.2
26.9
6.3
10.0
13.1
-3.1
-1.0
5.0
6.0
.6
34.3
27.8
6.5
8.7
11.6
—2.9
-.'5
5.3
5.8
.6
39.2
32.2
7.0
9.7
12.5
—2.8
—1.1
5.1
6.2
.6
2.2
-6.1
-.4
4.5
-2.4
1.6
.6
-.9
2.4
.0
3.7
-2.2
.9
-3.1
.7
1.0
.6
.6
.0
-1.3
.4
2.6
-.3
-5.5
.3
-.2
.1
3.2
.5
-2.7
.5
.5
.4
39.5
10.6
49.5
10.3
33.4
8.5
32.0
9.3
31.7
7.4
24.7
9.7
30.4
9.4
39.5
33.4
9.0
41.1
8.6
794.5
.8
-1.1
.8
.0
-1.6
.5
2.5
-.3
-6.5
.4
-.6
.2
3.7
.8
35.4
36.8
10.7
35.3
8.3
27.5
10.9
34.7
10.8
45.6
10.3
9.0
-5.2
8.9
Table 6. — Personal Consumption Expenditures by Major Type of Product in Current and Constant Dollars (2.3, 2.4)
Personal consumption expenditures _.
Durable goods
Motor vehicles and parts
Furniture and household equipment Other.
Nondurable goods .
Food
Clothing and shoes
Gasoline and oil .
Fuel oil and coal
Other. .
Services _
885.9
963.8
121.9
128.1
908.4
926.4
950.3
977.4 1,001.0 1,029.6
759.8
766.9
748.9
752.3
764.1
771.6
779.4
131.8
137.6
145.9
112.5
109.5
102.9
104.0
106.5
112.3
115.3
118.9
123.8
46.1
57.0
20.8
52.1
58.3
21.4
55.1
60.4
22. 2
62.1
61.3
22.6
44.4
50.5
17.6
42.4
49.3
17.9
37.7
48.2
17.0
39.6
47.1
17.3
39.8
49.1
17.6
44.4
49.9
18.0
45.7
51.0
18.5
• 51.2
51.1
18.6
423.7
430.8
303.0
306.6
298.9
300.8
306.9
308.0
310.7
315.7
150.2
61.2
25.9
5.2
64.1
146.4
57.1
26.5
5.1
63.8
148.2
58.7
26.1
5.0
62.8
150.7
60.9
26.3
5.3
63.7
150.2
62.1
25.4
5.5
64.8
151.8
62.9
25.8
5.0
65.3
155.1
63.2
26.8
5.5
65.1
350.7
347.2
347.5
350.8
351.2
353.3
358.0
128.0
49.9
20.8
29.2
129.3
49.2
19.7
29.4
130.6
49.9
20.8
29.0
28.2
145.1
28.8
146.1
28.9
148.6
48.0
54.7
19.3
49.5
57.4
21.1
43.6
54.3
19.4
44.6
54.1
20.2
375.7
409.8
387.1
394.1
404.8
416.4
206.6
215.6
72.5
42.1
10.4
83.1
219.3
73.5
42.2
11.3
84.6
147.1
59.0
24.6
5.2
67.0
439.7
452.9
344.4
189.4
65.2
36.4
9.5
75.2
209.1
69.9
40.3
10.2
80.3
197.4
64.8
38.8
9.8
76.1
202.8
66.7
38.1
9.4
77.1
69.0
39.6
10.1
79.5
211.4
71.3
41.2
11.1
81.5
388.3
426.0
404.0
413.4
421.6
429.2
Housing
Household operation
Electricity and gas
136.0
56.4
24.0
32.3
148.8
63.3
28.7
34.6
140.7
59.2
26.2
33.0
143.9
60.6
27.3
33.3
147.0
63.1
28.9
34.2
150.2
64.7
29.8
35.0
154.1
64.9
28.9
36.0
157.8
67.0
30.7
36.3
122.8
48.4
19.7
28.8
127.4
49.4
20.4
29.0
124.3
48.8
20.2
28.6
125.5
48.7
20.3
28.5
126.9
49.9
20.9
28.9
Transportation
30.9
165.0
34.1
179.8
32.1
172.0
33.0
175.9
33.5
177.9
34.2
180.1
35.5
185.2
36.4
191.8
28.5
144.7
28.4
145.5
28.3
145.8
28.4
144.9
28.3
145.8
p Preliminary.
1. Equals GNP in constant dollars measured as the sum of final products less GNP in
constant dollars measured as the sum of gross product by industry.
120.8
117.3
2. Final sales and change in inventories of new autos produced in the United States.
3. Consists of personal consumption expenditures, producers' durable equipment, and
government purchases.
SURVEY OF CURRENT BUSINESS
June 1976
Table 7.-—Inventories and Final Sales of Business in Current and Constant Dollars (5.9, 5.10)
1974
1974
1975
1975
I
IV
III
II
1974
1976
IV
I
1974
1975
1975
I
IV
II
Seasonally adjusted
Farm
Nonfann
Durable goods
Nondurable goods
M anuf acturing
Durable goods
Nondurable goods
Wholesale trade
Durable goods
Nondurable goods
Retail trade
Durable goods
Nondurable goods
Nonfarm
Billions of 1972 dollars
422.3
412.6
413.1
423.7
426.3
433.5
301.1
296.4
291.2
291.0
290.6
293.3
57.6
364.8
54,7
357.9
60.3
352.8
64.1
359.7
63.2
363.1
64.2
369.3
41.4
259.7
41.2
255.2
41.1
250.1
41.8
249.3
42.7
247.9
43.4
249.9
205.4
159.3
203.0
154.9
199.4
153.4
202.0
157.6
204.7
158.4
206.5
.162. 7
151.5
108.2
148.6
106.7
145.7
104.4
144.8
104.5
143.6
104.3
142.8
107.0
188.6
186.6
183.6
186.1
188.5
190.2
129.5
128.8
126.4
125.1
124.5
124.4
121.2
67.4
121.6
65.0
119.9
63.6
120.2
65.9
121.2
67.3
121.7
68.5
86.3
43.2
86.4
42.4
85.2
41.2
83.6
41.5
82.5
42.1
81.7
42.7
66.3
65.1
63.8
65.1
65.7
67.3
48.1
47.2
45.8
45.6
45.4
46.3
38.6
27.7
38.8
26.3
38.1
25.7
38.4
26.7
39.3
26.4
40.2
27.1
29.5
18.6
29.4
17.8
28.8
17.0
28.4
17.2
28.5
16.9
28.8
17.5
76.5
73.3
72.4
75.3
74.9
77.2
59.2
56.6
55.5
56.4
55.6
56.8
35.1
41.4
32.5
40.8
31.6
40.8
33.4
41.9
33.6
41.3
33.9
43.3
27.9
31.3
25.4
31.3
24.6
30.9
25.5
30.9
25.2
30.4
25.0
31.8
33.4
32.9
33.0
33.1
34.1
22.6
22.3
22.1
22.9
22.3
22.3
992.5
991.1 1,000.1 1,012.0 1,027.3
1,038.8
1, 148. 0 1, 186. 2 1,220.8 1, 243. 2 1, 276. 5 1,301.8
956.8
957.5
974.9
980.5
990.4
1,000.3
.303
.271
.299
.267
.291
.257
.288
.254
.283
.250
.282
.250
.351
.318
.335
.302
.329
.289
Table 8.—Relation of Gross National Product, Net National Product,
National Income, and Personal Income (1.9)
1974
1975
IV
1975
I
II
.328
.289
.320
.284
.320
.284
Table 9.—Relation of Gross National Product, Net National Product
and National Income in Constant Dollars (1.10)
1974
1976
III
I
IV
1974
1975
,406.9 1,498.9 1,441.3 1,433.6 1,460.6 1,528.5 1,572.9 1,620.4
134.0
152.0
142.1
145.4
149.5
154.7
158.5
163.1
Equals: Net national product. _ 1,272.9 1,346.9 1,299.3 1,288.2 1,311.1 1,373.8 1,414.4 1,457.2
Less: Indirect business tax
and nontax liability. . . 127.3 137.3 129.5 131.6 135.2 140.0 142.2 142.8
Business transfer payments
Statistical discrepancy. .
Plus: Subsidies less current
surplus of government
enterp rises _ _
Equals : National income
Less: Corporate profits with
inventory valuation
and capital consumption adjustments
_
5.8
-.6
6.3
-2.6
6.0
2.9
6.2
-3.2
6.3
-8.9
6.4
-3.2
6.5
5.0
6.6
4.4
1.9
.4
1.6
2.2
1.9
1.9
-.1
91.3
100.3
82.0
78.9
96.6
113.1
112.7
81.6
76.7
78.7
79.7
82.2
85.7
89.2
108.3
105.0
106.0
106.6
108.9
111.8
118.4
.0
.0
.0
.0
.0
.0
.0
134.5
106.5
31.1
168.7
120.5
32.8
145.5
114.0
31.7
157.7
116.0
32.1
169.4
117.6
32.6
172.4
121.2
33.5
175.2
127.4
33.1
181.5
131.9
33.3
5.8
6.3
6.0
6.2
6.3
6.4
6.5
6.6
Equals : Personal income
III
IV
I
1,210.7 1, 186. 1 1, 186. 8 1, 158. 6 1, 168. 1 1,201.5 1, 216. 2 1,241.8
116.7
122.2
119.2
120.0
121.2
123.0
124.8
125.7
Equals: Net national product. . . 1094. 0 1063.8 1067. 6 1038. 5 1046.8 1078. 6 1091. 4 1,116.0
Less: Indirect business taxes
plus transfer payments
less subsidies plus current surplus of government enterprises
v3
Equals: National income
117.2
118.1
116.8
116.4
118.1
118.4
-.5
-2.1
2.4
-2.6
-7.1
-2.5
977.4
947.8
948.5
924.7
935.9
962.7
119.5
120.5
3.9
3.4
968.1
992.1
1,141.1 1,207.8 1,161.3 1,155.2 1,180.8 1,232.5 1, 262. 6 1,303.3
Net interest.
70.7
Contributions for social
insurance
102.9
Wage accruals less disR
bursements..
Plus: Government
transfer
payments to persons. _
Personal interest income.
Dividends _
Business transfer payments
Gross national product
Less: Capital consumption allowances with capital
consumption adjustment
Residual
.7
II
Billions of 1972 dollars
Billions of dollars
Less: Capital consumption allowances with capital consumption adjustment
I
IV
1976
1975
Seasonally adjusted at annual rates
Seasonally adjusted at annual rates
Gross national product
I
34.6
Ratio of inventories to final sales
Nonfarm
1974
IV
1,202.7 1,230.4 1,257.0 1,291.4 1,330.3 1,354.0
Other. .
Final sales-
III
Seasonally adjusted
Billions of current dollars
Inventories ^
1976
123.9
1,154.7 1,245.9 1,194.8 1,203.6 1,223.8 1,261.7 1,294.5 1,325.2
» Preliminary.
1. Stocks are as of the end of the quarter. The quarter-to-quarter change in inventories calculated from the current-dollar stocks shown in this table is not the current-dollar change in
business inventories (CBI) component of GNP. The former is the difference between two
inventory stocks, each valued at end-of-quarter prices. The latter is the change in the physical
volume of inventories valued at average prices of the quarter. In addition, changes calculated
from this table are at quarterly rates, whereas CBI is stated at annual rates.
2. Quarterly totals at annual rates.
3. Equals GNP in constant dollars measured as the sum of final products less GNP in constant dollars measured as the sum of gross product by industry.
NOTE.—Inventories are classified as durable or nondurable as foltows: for manufacturing,
by the type of product produced by the establishment holding the inventory; for trade by
the type of product sold by the establishment holding the inventory; for construction, durable;
and for other nonfarm industries, nondurable.
SURVEY OF CURRENT BUSINESS
1975
1974
1975
1974
II
I
IV
June 1976
1974
1976
III
IV
1974
I
1975
Seasonally adjusted at annual rates
Table 11.— Gross Saving
& and Investment (5.1)
N
'
Personal saving
Undistributed
corporate
profits with inventory
valuation and capital
consumption
adjustments .
Undistributed profits. .
Inventory valuation adCapital consumption adCorporate capital consumption allowances with capital consumption adjustment-Noncorporate capital consumption allowances with
capital consumption adjustmentWage accruals less disbursements
Government surplus or deficit
(— ), national income and
product accounts
Capital grants received by the
United States (net) Gross investment
Gross private domestic investment .
Net foreign investment
Statistical discrepancy
207.1
226.7
83.6
180.3
228.3
73.6
185.9
279.3
107.5
211.9
269.5
85.9
Gross domestic product of corporate business
Capital consumption allowances with
capital consumption adj ustment
Net domestic product
21.9
38.4
-38.5 -10.8
-2.3
-5.7
1.1
43.0
9.3
27.5
22.4
34.0
I
28.9
45.3
854.6 912.1 869.2 865.9 892.4 933.0 956.9 988.9
82.1
Indirect business taxes plus transfer
payments less subsidies
Domestic income
213.8
274.2
88.6
99ft ft
£3 a
Compensation of employees
Wages and salaries
Supplements to wages and salaries
Corporate profits with inventory
valuation and capital consumption adjustments .
Profits before tax
Profits tax liability
Profits after tax _
Dividends, . . . _
_____
Undistributed profits
KO' 4
n A
-6.6
-9.9 -13.1
-4.5
-5.0
-6.5
87.2
89.1
91.6
95.5
-6.6
7 R
87.2
89.1
91.6
95.5
97.7 100.1
92.8 100.4
94.5
95.5
98.8 102.8 104.7 103.5
582.4 604.5 596.8 589.5 592.5 608.6 627.4 647.5
502.1 518.6 513.3 506.0 508.1 522.0 538.2 553.1
80.4
85.9
83.5
83.4
84.3
80.2
94.4
71.0
73.1
90.7 106.9 107.0 116.8
121.1 110.9 112.9
52.6
68.5
30.9
37.5
45.6
65.3
30.9
34.4
49.2
63.7
30.6
33.0
86.6
89.2
94.4
91.3 102.3 123.3 126.6 135.8
37.5
53.8
30.1
23.7
41.6
60.8
30.6
30.1
50.7
72.6
31.5
41.1
52.5
74.1
31.4
42.7
57.1
78.7
29.9
48.9
Inventory valuation adjustment. -38.5 -10.8 -37.7 -13.7 -6.6 -9.9 -13.1 -11.4
Capital consumption adjustment
-2.3 -5.7 -4.2 -4.5 -5.0 -6.5 -6.6 -7.6
Net interest..
Gross domestic product ofl financial corporate business
Gross domestic product of nonfinancial corporate business
Capital consumption allowances with
capital consumption adjustment
Indirect business taxes plus transfer
payments less subsidies
_
Domestic income
17.1
19.3
19.8
18.7
18.9
19.2
20.2
21.0
46.0
48.0
47.4
49.5
47.3
46.7
48.4
50.2
808.7 864.1 821.8 816.4 845.1 886.2 908.5 938.7
78.3
89.0
83.1
85.0
87.3
91.0
92.9
95.1
730.4 775.0 738.7 731.4 757.8 795.3 815.6 843.6
Net domestic product
... _ _
C ompensation of employees
Wages and salaries _ _
Supplements to wages and salaries
Profits before tax
"PrnfitQ tov li«V>iliHr
27.1
46.8
93.5
679.8 718.2 687.6 681.3 702.1 734.7 754.6 785.3
86.0
93.2
87.5
88.5
91.6
95.5
97.2
95.9
644.4 681.8 651.2 642.9 666.2 699.8 718.4 747.7
549.5 568.7 562.3 554.4 556.9 572.7 590.9 610.0
474.3 488.5 484.3 476.5 478.1 491.8 507.5 521.7
75.2
80.3
78.0
78.0
78.8
80.9
83.4
63.2
78.8
54.8
55.3
75.7
92.7
91.7 100.4
103.8
94.7
96.3
73.1
86.8 108.5 110.5 118.5
42.7
61.1
30.5
30.6
35.9
58.8
30.8
28.0
39.4
56.9
30.4
26.5
27.1
46.0
30.1
15.9
32.0
54.8
30.7
24.0
Corporate profits with inventory
valuation and capital con-
-4.2
-37.7 -13.7
IV
772.6 818.6 782.1 776.8 800.8 837.5 859.2 888.8
Profits after tax
Dividends . .
Undistributed profits
7.6
48.4
III
Table 12.—Gross Domestic Product of Corporate Business (1.15)
National income
1,141.1 1,207.8 1,161.3 1,155.2 1,180.8 1,232.5 1,262.6 1,303.3
Compensation of employees. . . 873.0 921.4 898.1 897.1 905.4 928.2 955.1 982 6
763.1 801.6 783.6 781.0 787.6 807.3 830.7 851.5
Wages and salaries
603.0 627.3 617.7 611.7 615.0 631.9 650.5 668. 8
Private
23. 6
23.0
23.6
Military _._
. .
22.3
23.0
22.9
22.8
22.8
Government civilian
137.7 151.3 142.9 146.4 149.7 152.6 156.5 159.0
Supplements to wages and
salaries
_. 110.0 119.8 114.4 116.1 117.8 120.9 124.4 131.1
Employer contributions
65 0
58.5
57.1
60.6
for social insurance
55.5
56.9
57.5
58.9
Other labor income
54.5
59.0
60.3 62.0
63.8
66.1
61.3
57.6
Proprietors' income with inventory valuation and capital consumption adjust87.1 85.0
85.1 83.3
83.6 79.6
78.6
88.0
ments
.
25 3
20.1
21.0
28.2
25.6
24.6
24.6
29.3
Farm
Proprietors' income with
inventory valuation adjustment and without
capital consumption ad29. 9
25.1
24.3 33.6
32.6
justment
29.3
28.9
28.6
Capital consumption ad-4.0
-4.1 -4.2
-4.3
-4.4
-4.6
justment. _ _._
-3.7 -4.3
59 7
58.5
59.0
58.6
58.7
Nonfarm
59.5
58.7
58.9
Proprietors' income without inventory valuation
and capital consump61 7
59.1
60.4
tion adjustments
62.0
60.0
62.5
59.1
61.2
Inventory valuation ad-.9
justment
-4.1 -1.3 -4.6 -1.3
-.9 -1.5 -1.5
Capital consumption ad.0
1.1
.3
-.3
justment
.8
-.8 —1. i
1.6
Rental income of persons with
capital consumption ad227
22.0
justment
20.8
20.5
20.9
21.0
21.1 20.9
35.0
33.2
34.6
Rental income of persons
33.9
35.1 36.3 37.4
32.9
Capital consumption adjustment
-11.9 -13.9 -12.3 -13.1 -14.1 -14.2 -14.3 — 14. 7
Corporate profits with inventory valuation and capital
96.6 113.1 112.7 123. 9
consumption adjustments..
82.0
91.3 100.3
78.9
Corporate profits with inventory valuation adjustment and without
capital consumption adjustment
93.6 106.0
86.1 83.4 101.6 119.6 119.3 131.4
132.1 116.8 123.9
97.1 108.2 129.5 132.4 142.8
Profits before tax
57. 1
41.6
Profits tax liability
49.2
37.5
50.7
52.5
52.6
45.6
85. 7
66.6
Profits after tax
71.2
78.8
79.9
79.5
59.6
74.7
Dividends.
33.1 33.3
32.1 32.6
33.5
32.8
31.7
31.1
52 4
34.0
Undistributed profits.
48.4
45.3
38.4
43.0
27.5
46.8
Inventory valuation adjustment
-38. 5 -10.8 -37.7 -13.7 -6.6 -9.9 -13.1 —11.4
Capital consumption ad—7.6
-6.5 -6.6
justment
-2.3 -5.7 -4.2 -4.5 -5.0
89.2
Net interest. ._ ..
70.7
85.7
81.6
82.2
76.7 78.7 79.7
198.0
262.8
88.9
II
Billions of dollars
Table 10.—National Income by Type of Income (1.13)
210.1
215.7
74.0
I
1976
Seasonally adjusted at annual rates
Billions of dollars
Gross saving
IV
1975
41.6
66.8
31.3
35.5
42.8
67.7
31.2
36.5
88.3
46.8
71.6
29.7
41.9
Inventory valuation adjustment - -38.5 -10.8 -37.7 -13.7 -6.6 -9.9 -13.1 -11.4
Capital consumption adjustment
-2.1 -5.1 -3.8 -4.1 -4.5 -5.9 -5.8 -6.7
Net interest
31.7
34.3
34.0
33.2
33.6
34.4
35.8
37.3
Billions of 1972 dollars
82.1
93.5
97.7
52.0
58.5
54.9
56.3
57.9
59.2
60.8
.0
.0
.0
.0
.0
.0
.0
Gross domestic product of nonfinancial corporate business
go i
Capital consumption allowances with
capital consumption adjustment
Net domestic product .
i
-3.6 -64.8 -19.6 -48.0 -93.4 -57.6 -60.4 _54
68* 6
-11.7 -74.6 -25.5 -53.7 -102. 2 -70.5 -72.1
"
14 r
11.7
9.8
5.7
12.9
8.1
8.8
5.9
-2.0
209.5
.0
195.4
.0
210.0
.0
177.1
.0
177.0
.0
208.7
.0
218.8
•°
233. 2
212.2
-2.8
-.6
182.6
12.8
-2.6
210.3
2
2'. 9
168.7
8.4
-3.2
161.4
15.6
-8.9
194.9
13.7
-3.2
205.4
13.4
5.0
232- 2
}• 0
4 4
-
Indirect business taxes plus transfer
payments less subsidies
Domestic income
697.6 680.4 676.3 654.0 671.8 695.0 700.8 716.1
69.3 72.8 70.9 71.4 72.2 73.2 74.4 75.0
628.2 607.6 605.4 582.5 599.6 621.7 626.4 641.0
77.4 77.8 77.0 76.8 77.9 78.1 78.7 79.0
550.8 529.7 528.4 505.7 521.8 543.7 547.7 562.0
1. Consists of corporations in the following industries: banking; credit agencies other than
banks; security and commodity brokers, dealers, and services; insurance carriers; regulated
investment companies; small business investment companies; and real estate investment
trusts. These industries together with insurance agents, real estate, and other holding ana
investment companies comprise the finance, insurance, and real estate industry.
2. See footnote 1 table 16.
SURVEY OF CUKRENT BUSINESS
June 1976
1974
1974
1975
1975
I
IV
II
9
1974
1976
III
1974
I
IV
1975
1,154.7 1, 245. 9 1,194.8 1,203.6 1,223.8 1,261.7 1,294.5 1,325.2
C ommodity-producing
industries 1
Manufacturing .
Distributive industries
2. _
Service industries 3
Government and government enterprises _
Other labor income
Proprietors' income with inventory valuation and
capital consumption adjustments
- Farm
Nonfarm
Dividends „
Personal interest income
Transfer payments _ .
--
Old-age, survivors, disability, and health insurance benefits
...
Government unemployment insurance benefitsVeterans benefits
783.6
781.0
787.6
807.3
830.7
851.5
273.7
211.2
184.3
145.0
273.6
211.2
195.1
158.6
277.7
214.9
189.9
150.1
267.9
205.5
190.3
153.5
267.2
205.9
191.8
156.0
275.3
212.9
196.6
160.0
284.0
220.6
201.8
164.7
293.2
228.5
207.0
168.6
160.6
174.3
165.9
169.3
172.6
175.4
180.2
182.6
54.5
61.3
57.6
59.0
60.3
62.0
63.8
66.1
85.1
25.6
59.5
Rental income of persons
with capital consumption
adjustment
801.6
83.3
24.6
58.7
83.6
24.6
59.0
79.6
21.0
58.6
78.6
20.1
58.5
88.0
87.1
85.0
29.3
58.7
28.2
58.9
25.3
59.7
21.0
21.1
20.9
20.8
20.5
20.9
22.0
22.7
31.1
106.5
32.8
120.5
31.7
114.0
32.1
116.0
32.6
117.6
33.5
121.2
33.1
127.4
33.3
131.9
140.4
175.0
151.6
163.9
175.7
178.8
181.7
188.1
70.1
81.4
75.0
76.6
77.7
85.0
86.2
87.9
6.6
11.7
17.6
14.3
8.2
13.4
15.1
14.6
18.6
13.8
18.7
13.9
17.8
14.9
17.6
16.3
Government employee retirement benefits
Aid to families with dependent children
Other
18.5
21.8
19.6
20.7
21.2
22.1
23.2
24.0
7.9
25.5
9.1
30.9
8.4
27.0
8.7
28.1
8.9
35.4
9.2
29.8
9.5
30.1
9.6
32.8
Less: Personal contributions for social insurance. .
47.4
49.8
48.2
48.8
49.1
50.0
51.2
53.4
Less: Personal tax and nontax payments, ._. ,,.. „ .
171.2
169.2
178.9
179.6
142.1
174.6
180.5
184.4
Equals: Disposable personal
income . . . .
983.6 1,076.7 1,015.9 1,024.0 1,081.7 1,087.1 1,114.0 1, 140. 7
Less: Personal outlays
909.5
987.8
932.4
950.4
974.2 1,001.3 1,025.4 1,054.5
885.9
963.8
908.4
926.4
950.3
22.6
23.1
23.0
23.0
22.8
23.0
23.4
1.0
1.0
1.0
1.0
1.1
.9
1.0
1.0
74.0
88.9
83.6
73.6
107.5
85.9
88.6
86.2
Personal consumption expenditures. . .
Interest paid by consumers
to business
Personal transfer payments
to foreigners (net)
Equals: Personal saving.
977.4 1,001.0 1,029.6
23.8
Addenda:
Disposable personal income:
Total, billions
dollars
of 1972
869.8
858.2
867.3
880.3
4,808
3,905
5,070
4,077
5,083
4,012
5,197
4,047
5,313
4,100
212.6
213.0
213.4
213.9
214.3
214.7
8.2
7.2
9.9
7.9
7.9
7.6
843.5
856.7
837.6
831.6
Per capita:
Current dollars
1972 dollars ..
4,642
3,981
5,040
4,010
4,779
3,940
Population
millions)
211.9
213.6
7.5
8.3
1. Consists of agriculture, forestry, and fisheries; mining; contract construction; and manufacturing.
2. Consists of transportation; communication; electric, gas, and sanitary services; and trade.
3. Consists of finance, insurance, and real estate; services; and rest of the world.
Corporate profits with inventory
valuation and capital consumption adjustments
Domestic industries
Financial _
Nonfinancial-.
IV
I
... .
Rest of the world .
Corporate profits with inventory
valuation adjustment and
without capital consumption
adjustment
91.3 100,3
82.0
78.9
96.6 113.1
80.2
17.1
63.2
94.4
15.6
78.8
71.0
16.2
54.8
73.1
17.8
55.3
90.7 106.9 107.0 116.8
15.0 14.2 15.3 16.4
75.7 92.7 91.7 100.4
11.0
5.9
11.0
5.8
93.6 106.0
86.1
Domestic industries
Financial Federal Reserve banks
Other
Nonfinancial
- -.
Manufacturing.- Nondurable goods
Food and kindred products..-Chemicals and allied products.
Petroleum and coal products ._
Other
Durable goods
Primary metal industries
Fabricated metal products
Machinery, except electrical. ..
Electrical equipment and supplies. .
Motor vehicles and equipmentOther
82.5 100.1
17.3 16.2
5.7
5.7
11.5 10.5
65.3 83.9
37.4 45.2
25.6 27.4
6.6
3.3
6.3
5.3
6.3
8.9
8.2
8.3
11.8 17.8
3.5
2.1
2.7
.9
1.8
4.8
75.1
16.5
6.0
10.5
58.6
31.9
22.6
1.7
4.8
7.7
8.5
9.2
4.3
1.3
1.1
.9
1.0
3.7
2.0
2.0
4.3
Wholesale and retail trade
Transportation, communication,
and electric, gas, and sanitary
services
OtherRest of the world..
13.4
21.9
11.9
7.0
7.5
11.0
8.8
7.9
5.9
6.7
8.1
11.0
Corporate profits before deduction of capital consumption allowances, with inventory valuation adjustment
Domestic industries.
..
Financial .
Federal Reserve banks.
..
Other
Nonfinancial
Manufacturing
Nondurable goods
Food and kindred products
Chemicals and allied products .
Petroleum and coal products _ .
Other
Durable goods . _ . . .
Primary metal industries
Fabricated metal products
Machinery, except electrical—
Electrical equipment and supplies
Motor vehicles and equipment
Other
Wholesale and retail trade. . . . .
Transportation, communication,
and electric, gas, and sanitary
services
Other
.
Rest of the world
5.8
6.2
112.7 123.9
5.8
7.0
83.4 101.6 119.6 119.3 131.4
77.6 95.7 113.4 113.6 124.4
18.3 15.5 14.9 16.1 17.4
5.7
5.7
5.4
5.8 6.0
12.5
9.4 10.3 11.3
9.9
59.3 80.2 98.6 97.4 107.1
30.0 43.5 54.6 52.8 59.5
21.1 27.5 30.1 30.9 34.3
5.9
7.1
6.4 7.9
6.9
4.4
5.9
7.4 8.6
7.5
5.2
6.8 7.6
7.0
6.0
5.6
7.5
9.8 10.2 10.3
8.9 16.0 24.5 21.9 25.2
3.9
1.4
1.7
1.2 1.7
1.5
3.4
2.7
3.0 3.2
3.4
4.7
5.8
5.3 6.2
.3
1.2
.6 -2.2
1.6
1.0
2.8
6.2
5.0
2.2
1.1
3.6
2.5
4.9
6.5
16.3
21.0
25.1
25.4 30.4
5.1
7.9
5.8
7.9
7.8
5.8
11.3
7.6
6.2
11.0
8.2
5.8
2.2
4.2
6.0
9.5
7.7
7.0
173.3 193.8 169.1 168.0 188.2 208.6 210.4 223.9
162.3 187.9 158.1 162.2 182.3 202.4 204.7 216.9
20.8 20.0 20.2 22.0 19.3 18.7 20.1 21.4
5.7
5.7
5.8
5.7
5.5
6.0
5.8 6.0
15.0 14.3 14.1 16.2 13.6 13.3 14.2 15.4
141.5 167.9 138.0 140.3 163.0 183.7 184.6 195.5
69.7 80.1 65.2 63.8 77.9 89.9 88.9 95.9
41.6 44.8 39.7 38.1 44.5 47.6 48.8 52.5
4.1
9.4
9.0
9.3
5.6
8.3
8.9 10.4
8.6
8.2
9.8 11.4 11.5 12.6
8.9 10.2
14.2 12.2 13.6 11.1 12.8 11.9 12.9 13.8
12.9 13.3 13.4 10.5 12.5 15.0 15.4 15.6
28.1 35.4 25.5 25.7 33.3 42.3 40.1 43.4
6.4
4.6
6.7
4.2
3.9
5.9
3.8 4.3
4.1
2.2
4.0
2.6
4.8
2.9
4.4 4.5
8.2
6.7
9.3 9.0 9.9
4.3
8.3
5.0
5.8
3.5
4.9
2.9
3.9
5.0
5.4
3.5
8.0
4.7
9.0
2.9
6.1
.2
5.6
3.7
8.2
7.7
11.3
7.0 9.0
10.9 10.0
21.2
30.6
20.0
24.6
29.5
33.9
34.4 39.5
29.4
21.2
11.0
34.0
23.1
5.9
30.5
22.3
11.0
29.4
22.5
5.8
32.8
22.8
5.8
36.8
23.1
6.2
37.3 36.4
24.1 23.7
5.8 7.0
NOTE.—The industry classification is on a company basis.
(mid-period,
Personal saving as percent of
disposable personal income. .
III
Table 14.—Corporate Profits by Industry (6.18)
Table 13.—Personal Income and Its Disposition (2.1)
763.6
II
Billions of dollars
Billions of dollars
Wage and salary disbursements
- -
I
IV
1976
Seasonally adjusted at annual rates
Seasonally adjusted at annual rates
Personal income
1975
5.1
SURVEY OF CURRENT BUSINESS
10
1974
1974
1975
I
IV
1975
II
June 1976
1976
IV
III
1974
I
1974
1975
Seasonally adjusted at annual rates
288.4 282.3 293.1 283.6
250.1 293.3 302.1 312.7
131.4 125.6 137.4 137.6
99.3 130.5 135.2 137 8
C orporate profits tax accruals
45.9
39.0
42.9
32.1
35.5
43.4
45.0
49.1
Indirect business tax and nontax
accruals
21.7
24.2
21.7
22.3
23.5
25.5
25.4
23.0
Contributions for social insurance
89.4
93.5
93.9
96.4 102.8
Expenditures
Purchases of goods and services
National defense
Compensation of employees
Other
--
N on defense
111.7 123.2 118.2 119.4
119.2 124.2 129.9 131.1
84.0
80.5
81.4
87.4
87.0
38.9
41.6
39.0
42.4
39.1 39.3
43.0 45.6
40.9
46.5
41.2
45.8
34.3
37.7
38.0
37.1 39.3
42.5
44.1
39.2
18.1
19.6
18.7
19.3
114.5 146.1 124.8 136.2
3.2 3.0 3.0 3.0
_
82.1 84.9
37.5 39.6
39.9 44.4
117.7 149.2 127.8 139.2
Transfer payments
To persons. 1 ._
To foreigners
352.3 363.8 374.2 381.3
17.2 19.2
17.1 20.0
Compensation of employees
Other
91.9
300.1 356.9 318.6 337.4
77.4
- -
91.1 91.7
I
II
III
VI
I
Billions of dollars
Table 15.—Federal Government Receipts and Expenditures (3.2)
Receipts
IV
1976
Seasonally adjusted at annual rates
Billions of dollars
Personal tax and nontax receipts
1975
18.9 19.3
18.1 20.0
20.1
22.4
20 4
23.6
150.5 152.5 154.5 160.2
147.3 149.5 151.5 157.2
3.2 3.0 3.0 3.0
Table 17.—State and Local Government Receipts and Expenditures (3.4)
Receipts
-
Personal tax
receipts
and
nontax
Corporate profits tax accruals. _
Indirect business tax and nontax accruals
209.4
232.4
214.9
221.2
228.2
237.7
242.3
248.8
39.8
43.6
41.5
42.0
42.9
44.1
45.3
46.6
6.7
6.6
6.3
5.5
6.1
7.3
7.5
8.0
107.8
109.3
111.8
114.5
116.7
119.9
15.6
105.6
113.1
Contributions for social insurance
13.5
14.8
14.0
14.3
14.7
15.0
15.3
Federal grants-in-aid
43.9
54.3
45.4
50.1
52.8
56.8
57.4
58.7
201.3
222.6
209.0 215.5 219.4
224.8
230.6
234.3
189.4
208.0
196.3
201.9
205.5
209.9
214.8
218.1
106.4
83.0
117.4
90.6
110.0
86.3
113.3
88.6
116.4
89.0
118.8
91.1
121.2
93.6
123.7
94.5
Expenditures
-
Purchases of goods and services
Compensation of employees Other
Transfer payments to persons..
20.0
22.5
20.7
21.5
22.1
22.9
23.6
24.3
-3.6
9.4
13.0
-3.0
10.8
13.9
-3.3
9.9
13.2
-3.2
10.4
13.7
-3.2
10.7
13.9
-2.9
11.0
13.9
-2.8
11.3
14.1
-3.0
11.5
14.5
Subsidies less current surplus
of government enterprises . -4.5
-4.9
-4.7
-4.7
-4.9
-5.0
-5.1 -5.2
.1
.2
.1
.1
.2
.2
.2
.2
Net interest paid.-.
Paid
Less: Received
Qrants-in-aid to State and local
governments
43.9
54.3
45.4
50.1
52.8
56.8
57.4
58.7
Net interest paid
21.0
23 4
22.0
22.4
22.6
23.4
25.3
26.1
Subsidies
Interest paid
24.1
27.1
25.0
25.5
26.1
27.3
29.5
30.8
19.8 22.6
43 45
20.5
4.5
20.6
4.9
21.6
4.4
22.8
4.5
25.2
4.3
26.5
43
Less: Current surplus of
government enterprises
4.7
5.1
4.8
4.9
5.1
5.2
5.3
5.4
2.9
3.2
3.5
3.9
4.2
4.6
Less: Wage accruals less disbursements. . . .
.
.0
.0
.0
.0
.0
.0
.0
.0
Surplus or deficit (— ), national income and product
accounts
8.1
9.8
5.9
5.7
8.8
12.9
11.7
14.5
9.8
-1.7
11.1
-1.3
10.2
-4.3
10.8
-5.0
11.1
-2.2
11.2
1.7
11.2
.5
11.3
3.3
To persons and business
To foreigners
-
Less: Interest paid to government..
Subsidies less current surplus of
government enterprises —
Subsidies
3.0
3.7
5.2
6.8
5.1
6.3
7.1
6.9
7.0
5.1
3.4
4.5
3.8
4.6
4.4
4.4
4.8
4.9
-2.8 -2.5 -2.3
-.2
Less: Current surplus of government enterprises
-1.8 -2.3 -1.3 -1.6
Less: Wage accruals less disbursements
e
o
0
.0
o
.0
0
o
Surplus or deficit (-), national
-11.7 -74.6 -25.5 -53.7 -102.2 -70.5 -72.1 -68.6
income and product accounts
Table 16.—Foreign Transactions in the National Income and
Product Accounts (4.1)
142.2 147.8 153.6 148.2
Receipts from foreigners
144.2 147.8 153.6 148.2
Exports of goods and services
Capital grants received
by the United
States (net) 1
Payments to foreigners _
-2.0
.0
.0
140.7 148.5 153.8 154.2
.0
.0
.0
.0
- 142.2 147.8 153.6 148.2
140.7 148.5 153.8 154.2
136.5 126.5 145.3 130.9
116.4 126.4 132.1 144.9
Imports of goods and services
Transfer payments (net)
From persons (net)
From government (net)
Interest paid by government to foreigners
Net foreign investment
.0
140.7 148.5 153.8 154.2
4.2
4.0
4.0
4.0
4.2
3.9
4.0
4.1
1.0
3.2
1.0
3.0
1.0
3.0
1.0
3.0
1.1
3.2
.9
3.0
1.0
3.0
1.0
3.0
4.3
4.5
4.5
4.9
4.4
4.5
4.3
4.3
-2.8
12.8
-.2
8.4
15.6
13.7
13.4
1.0
1. On February 18, 1974, the U.S. Government granted to India $2,010 million (quarterly
rate) in rupees under provisions of the Agricultural Trade Development and Adjustment
Act. 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 balance of payments accounts.
Accordingly, this transaction is excluded from Federal Government transfers to foreigners
and related totals shown in tables 11, 15, and 16, and is included in the first quarter of 1974
as -$8.0 billion (annual rate) in capital grants received by the U.S. shown in tables 11 and 16.
Social insurance funds
Other funds
.Table 18. —National Income Without Capital Consumption Adjustment by Industry (6.4)
National income without
capital consumption
adjustment
1,157.5 1, 231. 6 1,180.7 1,176.1 1,203.8 1,257.8 1, 288. 7 1,331.3
Domestic income
1,143.1 1, 221. 1 1,165.9 1,166.4 1,193.7 1,246.1 1,278.0 1,318.6
Agriculture, forestry, and
fisheries . .
_. 43.8
..
44.7
43.6
40.6
39.8
Mining and contract construction
74.3
75.6
74.5
73.1
74.0
75.6
76.4
294.2 303.1 293.7 280.7 295.0
119.0 124.9 117.2 114.2 122.3
175.3 178.1 176.4 166.5 172.7
45.1 44.4 44.9 41.7 42.5
23.8 25.6 25.0 24.3 25.3
314.4
129.2
185.2
322.2
134.0
188.1
339.6
141.1
198.5
45.8
26.3
47.7
26.5
48.6
27.5
M anuf acturing
Nondurable goods
Durable goods
Transportation
C ommunication
74.6
49.4
48.8
46.7
Electric, gas, and sanitary
20.0
services
Wholesale and retail trade. _. 178.5
24.6
201.1
21.4
182.9
23.0
190.9
24.2
197.6
25.4
205.5
25.8
210.4
25.2
220.5
74.8
103.7
80.4
120.6
79.3
103.5
75.7
115.2
77.9
119.7
83.1
122.4
85.0
125.4
90.1
130.4
Finance, insurance, and real
estate
Services
- -
130.3
152.7
139.0
167.3
133.7
158.5
137.7
161.9
136.7
164.7
137.9
169.0
143.7
173.7
148.4
178.5
Government and government enterprises
180.0
197.1
186.7
191.2
195.0
198.4
203.7
207.1
14.4
10.5
14.8
9.6
10.0
11.6
10.7
12.7
Wholesale trade
Retail trade
Rest of the world _
_ . _.
NOTE. —The industry classification of the compensation of employees, proprietors' income,
and rental income of persons is on an establishment basis; the industry classification of corporate profits and net interest is on a company basis.
SUKVEY OF CURRENT BUSINESS
June 1976
1974
1974
1975
IV
1975
I
II
III
11
1974
1976
IV
I
1974
1975
IV
Seasonally adjusted
116. 20 126.37 121. 45 123.74 125.04 127.21 129.33 130. 49
.
Gross private domestic investment
Fixed investment
Nonresidential
Structures
Producers' durable equipment..
Residential .
Nonfarm structures
Farm structures
Producers' durable equipment..
Change in business inventories
Nonfarm
Farm.
Net exports of goods and services. . .
Exports
__.
Imports
116.6
108.4
124.0
112.7
125.7
116.9
133.6
121.5
121.3
114.0
129.5
116.4
123.1
114.3
131.0
119.0
124.4
116.3
131.9
120.2
126.7
117.4
135.2
122.2
128.4
119.4
136.4
124.4
129.6
120.8
136.5
126.5
117.6
116.0
127.5
110.2
122.1
122.6
122.9
105.4
132.6
132.3
141.7
127.7
133.3
133.8
133.7
115.9
125.4
125.0
138.3
118.3
126.7
127.2
127.1
110.8
130.1
129.6
141.0
123.8
131.6
132.2
131.4
113.8
131.9
131.8
141.2
127.3
132.3
132.9
132.2
115.5
132.6
132.6
141.4
128.4
132.5
133.0
133.0
116.8
135.5
135.3
143.4
131.3
136.1
136.7
136.1
118.8
137.7
136.9
144.2
133.3
139.7
140.3
140.2
120.8
III
IV
I
Table 23.—Implicit Price Deflators for Net National Product and
National Income by Sector (7.7)
Net national product
. .
Net domestic product
118.4 128.6 124.0 125.9 127.3 129.2 131.8 133.5
117.6 130.6 124.8 127.3 128.9 130.9 135.3 136.9
118.9 127.4 123.6 125.1 126.4 128.2 129.8 131.5
116.3 126.6 121.7 124.0 125.2 127.4 129.6 130.6
115.8 126.2 121 0 123.6 124 8 126 9 129 2 130 1
Business
116 0 127 0 121.6 124.4 125 6 127 7 129 8 130 6
Nonfarmp .
Farm
Residual? 1
114.7 126.4 120.5 124.2 125.1 126.8 129.1 130.4
164.1 145.5 160.9 131.1 142 4 155 8 151 4 137 4
Households and institutions. _
G o vernment
116.4 126.4 120.9 122.5 124.0 127.6 131.5 133.1
114.4 121.5 117.7 119.1 120.5 121.8 124.5 126 2
Rest of the world
116.8 127.4 122.4 124.9 126.2 128 0 130.4 131.4
National income
Domestic income
147.8 163.2 160.4 163.5 162.0 163.6 163.5 164.4
168.6 188.3 185.6 189.1 187.8 187.8 188.2 189.8
Government purchases of goods and
services
Federal
National defense
Nondefense .
State and local
II
Index numbers, 1972=100
Table 19.—Implicit Price Deflators for Gross National Product (7.1)
Gross national product
I
1976
Seasonally adjusted
Index numbers, 1972=100
Personal consumption expenditures. ..
Durable goods
Nondurable goods.
.- ...
Services
1975
._
Business
116.1 127.0 121.7 124.5 125.7 127.5 130.0 130.8
116.4 128.0 122.5 125.6 126.8 128.6 130.9 131.6
...
115.4 128.0 121.8 126.0 126.9 128.2 130.7 132. 0
147.1 128. 6 143.7 114.6 124.3 138.5 135.9 122.4
Households and institutions .
Government _ .
_
116.4 126.4 120.9 122.5 124.0 127.6 131.5 133.1
114.4 121.5 117.7 119.1 120.5 121.8 124.5 126.2
Nonfarm
Farm ...
Rest of the world Table 24.—Implicit Price Deflators for Auto Output (7.9)
Table 20. — Implicit Price Deflators for Gross National Product by
Major Type of Product (7.3)
Gross national product _
. 116.20 126.37 121.45 123.74 125. 04 127.21 129. 33 130.49
Final sales
Goods
Durable
Nondurable
Services . . - .
Structures
-.
116.1
115.5
109.6
119.6
114.6
126.2
126.5
127.8
123.8
130.3
122.9
139.2
121.3
121.5
116.6
124.7
118.5
134.8
123.8
124.8
119.9
127.8
120.3
138.4
125.4
126.7
123.4
129.0
121.6
138.6
127.3
129.0
124.8
131.7
123.6
138.4
129.3
130.4
126.9
132.8
126.0
141.2
130.4
130.2
127.4
132.0
128.1
143.1
Table 21. — Implicit Price Deflators for Gross National Product by
Sector (7.5)
Gross national product
116.20 126.37 121.45 123. 74 125. 04 127. 21 129. 33 130.49
Gross domestic product ...
115.7 126.0 120.9 123.4 124.7 126.8 129.0 130.1
Business.
Nonfarm p, . ...
Farm
!___ _
115.8 126.6 121.3 124.0 125.3 127.5 129.5 130.5
114.6 126.1 120.3 123.8 124.8 126.6 128.8 130.3
154.0 142.4 152.5 130.8 139.5 150.7 147.8 137.1
106.8 112.9 112.5 107.9 111.8 113.9 116.9 118.6
Auto output
Final sales
Personal consumption expenditures.
Newautos.. . .
._
.
Net purchases of used autos
Producers' durable equipment
Newautos.. .
.
..
Net purchases of used autos
Net exports
Exports..
. _ . _.
..
Imports
Government purchases of goods and
services _ .
Change in inventories of new and used
autos
106.3 113.1 113.9 109.2 112.8 113. .3 116.5 117.5
109.1 117.7 117.7 112.8 116.8 118.5 121.8 122.5
105.6 ]15. 1 111.4 112.2 114.5 115.2 118.1 120.4
103.7 107.7 105.3 105.9 108.6 106.8 109.6 112.2
105.8 115.1 111.4 112.1 114.5 115.3 118.0 120.4
107.2 lie. 6 113.3 113.3 113.8 116.5 119.5 119.2
118.8 134.9 122.4 131.1 132.4 134.6 140.3 143.1
111.8 120.6 116.6 118.1 120.3 120.8 122.9 124.7
Addenda:
Domestic output of new autos
2 _ _ . 108.0 115.0 111.3 111.5 114.3 115.2 118.1 120.3
105.8 115.0 111.4 112.2 114.5 115.3 118.1 120.4
Sales of imported new autos 3
Table 25.—Implicit Price Deflators for Personal Consumption
Expenditures by Major Type of Product (7.11)
Personal consumption expenditures
Durable goods
116.6 125.7 121.3 123.1 124.4 126.7 128.4 129.6
108.4 116.9 114.0 114.3 116.3 117.4 119.4 120.8
- _
108 0 116 8 115.7 112.7 116.0 117.4 120.4 121.3
Motor vehicles and parts
Furniture and household equipment- 108.3 116.5 112.8 114.9 116.0 116.8 118.3 120.0
110.0 118.3 113.9 116.5 117.9 119.2 119.7 121.5
Other
-.
Table 22.—Implicit Price Deflators for the Relation of Gross
National Product, Net National Product, and National Income
(7.6)
Gross national product
Less: Capital consumption allowances
with capital consumption adjustment
Equals: Net national product
116.20 126.37 121.45 123.74 125. 04 127.21 129. 33 130.49
116.3 126.6 121.7 124.0 125.2 127.4 129.6 130.6
Less: Indirect business taxes plus
transfer payments less subsidies
plus current surplus of government enterprises
113.0 120.0 115.7 117.0 118.0 122.0 122.8 124.1
Residual p J
Equals: National income
116.8 127.4 122.4 124.9 126.2 128.0 130.4 131.4
128.7
110.5
147.9
- . . . . - 182.4
112.3
Food
Clothing and shoes
Gasoline and oil
Fuel oil and coal
Other
Services
114.8 124.4 119.2 121.1 123.3 125.8 127.1 129.7
124.0 133.6 129.5 131.0 131.9 135.2 136.4 136.5
Nondurable goods
.
134.8
113.6
146.5
193.7
119.3
136.9
113.5
146.1
187.9
122.8
137.2
113.3
150.5
190.4
124.8
140.7
114.8
161.9
202.1
125.7
142.0
115.3
163.4
210.0
127.4
141.4
116.2
157.6
205.3
129.9
112.7 121.5 116.4 119.0 120.2 122.2 124.4 126.5
.
Housing
Household operation
Electricity and gas
Other
Transportation
Other
139.2
114.2
155.4
197.6
125.2
.
.
110.8
. _ 116.4
.. ..- 122.1
112.4
108.3
114.1
116.8
128.1
140.6
119.3
119.9
123.6
113.3
121.4
129.6
115.5
113.1
118.0
114.7
124.3
134.6
116.9
116.4
121.4
115.9
126.6
138.0
118.3
118.6
122.0
117.3
129.6
143.2
119.9
121.1
124.1
119.2
132.0
146.7
122.1
123.4
126.8
120.8
134.3
147.3
125.0
125.9
129.0
1. Equals GNP in constant dollars measured as the sum of final products less GNP in
constant dollars measured as the sum of gross product by industry.
2. Final sales and change in inventories of new autos produced in the United States.
3. Consists of personal consumption expenditures, producers' durable equipment, and
government purchases.
SUEVEY OF CUEEENT BUSINESS
12
Table 26.—Percent Change From Preceding Period in Gross National Product in Current and Constant Dollars, Implicit Price
Deflator, and Price Indexes (8.9)
1975
1974
1974
1975
IV
I
II
June 1976
Table 26.—Percent Change From Preceding Period in Gross National Product in Current and Constant Dollars, Implicit Price
Deflator, and Price Indexes—Continued
1976
111
IV
1974
I
1974
1975
IV
Seasonally adjusted
Percent
Percent
19.9
12.0
7.1
7.3
7.3
12.1
5.0
6.8
6.9
7.2
12.6
8.7
3.6
3.9
3.9
11.9
4.0
7.7
8.1
8.2
10.0
4.1
5.7
6.2
6.3
11.9
8.0
3.6
3.3
3.0
28.5
23.8
3.8
3.8
4.0
18.7
11.1
6.9
6.9
7.4
26.5
20.6
4.9
4.8
4.8
11.9
1.5
10.2
10.8
10.9
7.2
6.9
3.6
6.5
3.5
.3
4.2 -.6
4.3 -1.0
7.4
.5
6.8
6.9
6.9
10.2
2.4
7.6
7.9
8.0
12.5
5.4
6.8
6.6
6.7
112.7
101.0
23.3
10.0
63.3
52.1
Addenda:
Gross domestic product:
Current dollars . _ _ .
1972 dollars
Implicit price deflator
Chain price index. _ .. ._
Fixed-weighted price index
Business:
Current dollars
1972 dollars
Implicit price deflator
Chain price index
Fixed-weighted price index
13.2
11.1
2.0
3.2
2.5
22.6
12.2
9,2
8.3
8.4
19.3
12.2
6.4
6.7
7.1
1.7
-.7
2.4
4.1
3.6
15.0
6.0
8.4
7.3
7.0
17.3
12.0
4.7
5.2
5.1
.8
.2
.6
!c
20.8
14.1
5.9
5.4
5.2
14.4
12.0
2.1
1.7
1.8
2.3
-1.1
3.4
6.1
5.9
11.9
2.3
9.4
8.4
8.1
18.9
12.0
6.2
7.1
7.2
57.5
56.7
46.8
31.6
11.6
11.3
11.2
25.1
12.7
10.9
11.1
11.0
24.2
19.5
4.0
3.8
3.5
15.0
1.2
15.1 -1.0
-.1 2.2
.4
1.1
.4
1.3
39.0
39.1
.0
-1.5
-1.5
19.3
18.4
.7
.7
.8
44.9
39.9
3.6
2.8
2.9
12.1
6.0
5.8
5.4
5.6
13.5
4.6
8.5
8.5
8.6
5.3
.2
5.1
5.0
4.3
17.8
11.0
6.1
5.5
6.3
19.9
3.6
5.0 -1.3
14.2
4.9
14.1
4.1
13.6
2.9
8.9
3.2
5.6
5.4
5.1
II
111
IV
I
9.8
4.3
5.2
5.2
5.2
6.3
1.0
5.2
5.5
5.3
Percent at annual rate
7.3
6.9
4.6 -.7
-1.8 -1.9 -7.8 -8.5
9.3
8.9 13.5
8.5
9.3
8.8 12.5
8.3
9.4
8.8 12.5
7.9
7.7
3.2
4.3
4.3
4.5
19.6
11.7
7.1
7.4
7.4
12.5
5.2
7.0
6.9
7.2
12.2
8.4
3.5
3.9
3.8
7.1
6.4
3.4 -2.5
-2.4 -2.7 -9.3 -10.7
9.7
9.3 14.0
9.3
_
9.7
9.1 12.8
8.6
9.8
9.1 12.7
8.1
7.5
3.1
4.2
4.2
4.5
21.7
13.6
7.2
7.6
7.6
12.7
5.9
6.4
6.4
6.7
13.0
9.6
3.1
3.7
3.6
NOTE.—The implicit price deflator for GNP is a weighted average of the detailed price
indexes used in the deflation of GNP. In each period, the weights are based on ths composition
of constant-dollar output. In other words, the price index for each item is weighted by the
ratio of the quantity of the item valued in 1972 prices to the total output in 1972 prices. Changes
in the implicit price deflator reflect both changes in prices and changes in the composition of
output. The chain price index uses as weights the composition of output in the prior period,
and, therefore, reflects only the change in prices between the two periods. However, comparisons of two or more of the percent changes in the chain index also reflect changes in the composition of output. The fixed-weighted price index uses as weights the composition of output
in 1972. Accordingly, comparisons over any timespan reflect only changes in prices.
Table
27.—Fixed-Weighted Price Indexes for Gross
Product, 1972 Weights (7.2)
National
Index numbers, 1972=100
Gross national product
.4
_4
I
1976
Seasonally adjusted
Percent at annual rate
Gross national product:
6.5
7.7
4.8 -2.1 7.7
Current dollars
3.3
-1.8 -2.0 -7.5 -9.2
1972 dollars
4.3
7.8
9.7
8.8 13.4
Implicit price deflator
8.2
4.3
9.7
8.8 12.5
Chain price index
4.4
7.8
9.7
8.8 12.5
Fixed-weighted price index
Personal consumption expenditures:
8.2 10.7
.3
9.6
8.8
Current dollars
6.4
1.8
.9 -9.2
-.8
1972 dollars
6.2
3.9
7.8 10.4
Implicit price deflator - . . . - . . 10.5
4.0
6.3
10.7
7.8 10.2
Chain price index
6.1 4.1
10.9
7.9 10.4
Fixed-weighted price index
Durable goods:
5.7 17.5
5.0 -31.5
-.8
Current dollars
4.5
9.8
-7.0 -2.6 -39.7
1972 dollars
1.2
7.0
6.6
7.8 13.6
Implicit price deflator
1.5
7.4
6.5
8.1 13.3
Chain price index
8.2 13.6
1.1 8.2
6.5
Fixed-weighted price index _ - Nondurable goods:
7.5 11.2
9.1
12.4
3.4
Current dollars
1.2 -7.4
2.6
8.3
1972 dollars
- -2.2
4.8
2.8
Implicit price deflator
7.8 11.6
14.8
4.9
2.9
15.4
7.8 11.6
Chain price index
4.9
2.7
7.9 12.0
Fixed-weighted price index
. 15.5
Services:
8.2
9.6
10.5
9.7
9.5
Current dollars _
-- - 3.8
.4
2.6
1.8
1.6
1972 dollars .
4.2
9.2
Implicit price deflator
7.7
7.7
7.8
9.2
4.1
7.8
7.8
Chain price index
- 7.8
9.2
4.2
Fixed-weighted price index
7.8
7.8
7.8
Gross private domestic investment:
5.3 -58.6 -16.1
-3.7 -13.9
Current dollars
-13.2 -23.2 -13.9 -63.5 -16.1
1972 dollars
... .
Implicit price deflator
Chain price index
Fixed-weighted price index
.
Fixed investment:
Current dollars
- - . -.2 -2.6 -6.4 -12.1 -5.0
-10.0 -13.6 -21.1 -24.0 -10.2
1972 dollars
Implicit price deflator
10.9 12.8 18.7 15.7
5.8
Chain price index - _.
11.3 13.0 18.0 16.4
6.8
Fixed-weighted price index
5.5
11.5 12.2 16.1 15.3
Nonresidential :
.4
8.4
8.3 -4.6 -8.3
Current dollars
1972 dollars
-2.9 -12.0 -12.6 -17.5 -14.3
11.6 14.1 23.9 15.6
6.9
Implicit price deflator
Chain price index
8.1
11.7 14.5 22.8 16.2
Fixed-weighted price index.. 12.0 14.0 22.1 14.6
7.3
Structures:
Current dollars
11.1 -3.2 16.2 -8.4 -25.0
1972 dollars
-5.9 -12.9 -.6 -15.1 -25.3
Implicit price deflator
_ 18.0 11.2 16.9
8.0
.4
.2
Chain price index
8.2
18.0 11.1 16.9
Fixed-weighted price index. . 18.1 11.0 17.0
.0
8.0
Producers' durable
equipment:
2.6
Current dollars
3.9 -2.4
2.5
6.9
1972 dollars
-1.3 -11.5 -17.9 -18.6 -8.2
Implicit price deflator
8.2 15.9 26.6 20.0 11.7
Chain price index
8.2 16.4 26.2 21.2 12.9
Fixed-weighted price index..
8.3 15.9 25.6 19.1 12.3
Residential:
Current dollars
7.1
-17.9 -10.7 -38.5 -32.4
1972 dollars
4.9
-25.7 -18.1 —42.0 -42.0
2.1
Implicit price deflator
5.9 16.6
9.1
10.4
Chain price index
2.3
9.1
5.8 16.7
10.5
2.2
Fixed-weighted price index.. 10.5
9.1
5.8 16.5
Exports:
Current dollars
. _
42.1
2.5 13.9 -13.2 -18.9
1972 dollars
11.4 -7.2 -4.8 -19.6 -15.9
Implicit price deflator
..
7.9 -3.6
27.5 10.4 19.7
Chain price index
27.1 11.5 21.4 11.4 -4.0
Fixed-weighted price index
27.2 11.5 21.5 11.2 -3.8
Imports:
Current dollars
45.0 -7.3 -.5 -34.2 -37.4
1972 dollars
— 17 0 16 2 -39.0 -35.7
Implicit price deflator
7.9 -2.7
43.9 11.7 18.8
Chain price index
7.3 -2.2
44.7 11.2 16.6
Fixed-weighted price index
7.0 -2.0
44.6 11.2 16.0
Government purchases of goods and
services:
Current dollars
4.4
8.9
11.5 10.0 11.6
1972 dollars.
2.4
1.3 -1.8
Implicit price deflator
io!7 8.6 13.7 6.3 4'.e
Chain price index
. .
4.9
6.1
10.5
8.7 13.5
Fixed-weighted price index. _
4.9
6.2
9.0 14.0
11.0
Federal:
Current dollars
4.0 -.5
9.5 10.3 17.2
1972 dollars
.....
-1.2
-4.1 -4.2 -5.4
Implicit price deflator
5.2
8.5
10.9 11.1 22.3
Chain price index
5.4
7.1
9.9 10.8 20.8
Fixed-weighted price index
11.2 11.2 21.1
7.4
5.8
State and local:
Current dollars
7.3
9.8
8.4 11.9
12.8
1972 dollars ....
6.5
2.8
1 9 2.5 — . 'i
Implicit price deflator
7.2
5.1 4.2
10.6
8.8
Chain price index
7.5
4.6
5.5
10.8
9.3
Fixed-weighted price index
4.2
7.5
10.9
9.5
5.5
1975
116.3 126.5 121.5 123.8 125.2 127.4 129.6 130.9
Personal consumption expenditnres
Durable goods
Nondurable goods
Services
Gross private domestic investment
Fixed investment .
..
Nonresidential
Structures
Producers' durable equipment _ .
Residential
Nonfarm structures
Farm structures
.
Producers' durable equipment _ _
Change in business inventories
117.1
108.4
125.1
112.8
126.4
117.3
134.9
121.6
121.9
114.1
130.6
116.5
123.7
114.4
132.2
119.0
124.9
116.7
133.0
120.3
127.4
117.8
136.5
122.3
129.4
119.9
138.0
124.7
130.4
121.3
137.6
126.7
118.6
116.7
127.5
110.5
122.3
133.1
133.0
141.5
128.1
133.4
126.1
125.8
138.4
118.6
126.8
130.7
130.1
141.1
123.9
131.8
132.5
132.4
141.1
127.5
132.5
133.3
133.6
141.1
129.3
132.6
136.0
135.9
142.9
131.9
136.2
138.5
137.8
144.1
134.2
139.6
Net exports of goods and services
Exports
-.
. - - - . - 147.4 164.4 160.5 164.8 163.2 164.6 164.8 165.3
Imports
.
169.3 188.2 186.0 189.2 188.2 187.5 187.9 189.2
Government purchases of goods and
services
118.9 129.6 124.9 126.9 128.4 * 130. 1 132.8 134.0
Federal
- - - 118.5 131.8 126.0 128.3 130.1 132.1 136.4 137.3
State and local
119.2 128.1 124.2 125.9 127.2 128.8 130.5 131.8
Addenda:
Gross domestic product
Business
-
115.9 126.1 121.0 123.3 124.7 126.9 129.2 130.4
- - 116.1 126.6 121.5 123.9 125.2 127.5 129.5 130.9
Table 28.—Current Dollar Cost and Profit Per Unit of Constant
Dollar Gross Domestic Product of Nonfinancial Corporate
Business (7.8)
Dollars
Current dollar cost and profit per
unit of constant dollar gross
product *
Capital consumption allowances with
capital consumption adjustment
Net domestic product
1.159 1.270 1.215 1.248
.112
- - - - 1.047
Indirect business taxes plus transfer
payments less subsidies
-Domestic income
.131
.123
1.139 1.092
1.253 1.275 1.296
1.311
.130 .130 .131 .133 .133
1.118 1.128 1.144 1.164 1.178
.123 .137
.924 1.002
.129
.963
.135
.983
.136 .137 .139 .134
.992 1.007 1.025 1.044
Compensation of employees
Corporate profits with inventory
valuation and capital consumption adjustments
Profits tax liability
Profits after tax with inventory
valuation and capital consumption adjustments -
.788
.836
.831
.848
.829
.824
.843
.852
.091
.061
.116
.053
.081
.058
.085
.041
.113
.048
.133
.060
.131
.061
.140
.065
.029
.063
.023
.043
.065
.073
.070
.075
Net interest
.045
.050
.050
.051
.050
.050
.051
.052
1. Equals the deflator for gross domestic product of nonfinancial corporate business with
the decimal point shifted two places to the left.
By JOHN T. WOODWARD
Business Raises
1970 Capital Spending Plans
CHART 3
Plant and Equipment Expenditures
Billion $ (ratio scale)
180
Bus
JSINESS plans to spend $121
billion for new plant and equipment in
1976, 7.3 percent more than in 1975,
according to the BEA survey conducted in late April and May (table 1
and chart 3). Spending in 1975
amounted to $112.8 billion, 0.3 percent above 1974.1
Current spending plans for 1976
are almost 1 percent above those reported in late January and February.
Upward revisions occurred in both
manufacturing and nonmanufacturing
industries—primarily textiles, paper,
petroleum, rubber, transportation, and
communications.
First-quarter actual spending was
3% percent below the plans reported in
January and February, but secondquarter and second-half plans have been
revised upward about 1 and 2 percent,
respectively. The first-quarter shortfall was primarily in public utilities,
communications, and air transportation. The subsequent upward revisions
are primarily in nondurables manufacturing and communications.
These figures have not been adjusted
for price changes. The implicit price
deflator for fixed nonresidential investment in the national income and
product accounts rose at annual rates
averaging 6% percent in the fourth
quarter of 1975 and the first quarter
of 1976. If this price rise underlies the
latest spending plans, the survey indicates an increase in real investment of
about 1 percent for 1976.
Actual spending in the first quarter
" ALL INDUSTRIES
100
80
60
50
40
MANUFACTURING
30
20
15
10
50
_ COMMUNICATION AND COMMERCIAL
30
20
15
30
PUBLIC UTILITIES
20
10
15
TRANSPORTATION INCLUDING RAILROAD
10
1967
69
71
73
75
Seasonally Adjusted at Annual Rates
o Expectations
U.S. Department of Commerce, Bureau of Economic Analysis
76-63
1. Spending plans have been adjusted for systematic
biases (table 5, footnote 21. For example, 1976 plans before
adjustment were $122.17 billion for all industries, $54.22
billion for manufacturing, and $67.95 billion for nonmanufacturing. The adjustments were applied separately to each
major industry; their net effect was to lower the manufacturing total $1.69 billion and to raise the nonmanufacturing total
$0.55 billion.
was at a seasonally adjusted annual
rate of $114.7 billion, 2.6 percent above
the fourth quarter of 1975. Plans call
for a 5.6 percent rise in the second
quarter, to $121.1 billion. Smaller
increases are planned for the second
half of the year—1.5 percent in the
third quarter, to $123.0 billion, and
1.1 percent in the fourth, to $124.4
billion. Nondurables manufacturing accounted for most of the first-quarter
increase in actual spending. In the
second quarter, both manufacturing and
nonmanufacturing spending is expected
to rise. The third-quarter increase is in
manufacturing; the fourth-quarter increase is in nonmanufacturing.
Table 1.—Plant and Equipment Expenditures: Annual
[Percent change]
Actual
1975
AH industries
Manufacturing
_ _ _ _
February
Primary metals 1
Blast furnaces, steel works. .
Nonferrous metals Electrical machinery
Machinery, except electrical..
Transportation equipment i _ _
Motor vehicles
Aircraft
Stone clay, and glass
Other durables. . . .
Nondurable goods _
Food including beverage
Textiles
Paper
. ...
Chemicals
Petroleum
Rubber
Other nondurables
Non manuf a cturing
...
_ _
May
7.3
0.3
6.5
4.2
8.1
9.5
5.0
4.1
-4.2
-9.2
-4.4
9.4
13.1
5.6
17.0
-12.7
12.7
3.9
-6.5
-8.5
-9.3
10.2
11.2
6.3
15.3
-9.0
9.3
4.8
-3.4
Durable goods
Mining
Railroad
Air transportation .
Other transportation.
Public utilities
Electric
Gas and other
Communication
Commercial and other
Expected 1976
as reported in—
20.9
42.9
-2.2
-22.1
2.0
-13.5
-23.4
15.8
-.8
-14.2
11.6
10.8
14.1
.2
-21.0
14.3
9.7
31.4
-31.7
-4.6
20.2
14.7
13.0
6.8
10.6
11.6
.9
20.3
32.5
18.4
8.1
14.1
18.9
4.6
-2.4
5.2
5.7
2.3
-18.4
-27.7
-11.1
15.4
15.7
13.8
6.5
3.4
.5
-15.2
-26.1
-5.9
14.6
15.6
9.3
8.6
3.3
19.4
.2
-8.1
50.0
-2.0
-3.6
7.3
-8.8
-6.6
1. Includes industries not shown separately.
13
SUEVEY OF CURRENT BUSINESS
14
Current plans imply a very large
spending increase in the second quarter,
but it is unlikely that this increase will
materialize. In the second half of the
year, actual expenditures may match
current plans more closely or even exceed them, because the recent abatement of inflation, improvement in
corporate profits and cash flow, and
increases in manufacturers' capacity
utilization rates may not be fully reflected in current plans. On balance, a
gradual rise in real capital spending
during 1976 is compatible with the
information now available.
CHART 4
Manufacturers' Capital Spending and
Capacity Utilization
2nd Qtr. 1973=100
220
180 -
100
60
Percent
94
CAPACITY UTILIZATION RATES
90
86
82
78
74
I
70
1973
1974
1975
° Expectations.
1. Primary metals, paper, chemicals, and petroleum.
U.S. Department of Commerce, Bureau of Economic Analysis
1976
June 1976
Manufacturers' starts of new investment projects in the first quarter
After three quarters of decline, manu- totaled $11.6 billion, a 4 percent
facturers' spending increased 5 percent decline from the fourth quarter of 1975
in the first quarter. Nondurables in- (table 2 and chart 5). Starts in the
creased 7 percent and durables 3 per- machinery and transportation equipcent. A 6 percent increase planned in ment industries rose; those in the
the second quarter also reflects greater primary metals and the major nonstrength in nondurables (7 percent) durables industries fell.
than in durables (5 percent). In the
Capital expenditures exceeded the
third quarter, both groups increase value of new projects started in the
their spending about 3% percent; in the first quarter. Consequently, there was a
fourth quarter, a 1 percent increase in drop in manufacturers' carryover—the
nondurables is nearly offset by a 1
percent decline in durables.
CHART 5
For the year 1976, plans call for a
spending increase of 9% percent, comStarts and Carryover of Investment
pared with actual increases of 4 percent
Projects
in 1975 and 21 percent in 1974. Textiles Billion $ (Ratio scale)
50
plan an increase of 32 percent, their
MANUFACTURING
40
largest since 1959. Food-beverage is up
30
20 percent, with the beverage industry
accounting for most of the increase.
20
Large increases are also planned in
rubber, paper, petroleum, and motor
vehicles. Chemicals plan a smaller in10
crease and primary metals, a decline.
Spending programs in the primary
\
Expenditures
metals, paper, petroleum, and chemicals industries are of particular interest
4
because of renewed concern about
3
capacity shortages in these industries.
Capital spending by these four indus- 200 PUBLIC UTILITIES
tries has increased sharply since 1973, 150
when the capacity utilization rates for 100
them as a group reached its peak. Their
80
combined spending increased at an
60
average quarterly rate of 5% percent
from the second quarter of 1973 through
Carryover*
40
the first quarter of 1976, compared
30
with about 2% percent for total manufacturing. Data are not available to
20
show the increases in capacity that have
resulted from the large increases in
capital spending. BEA surveys have
indicated that pollution abatement
expenditures—a category of spending
that does not contribute to capacity
expansion—have constituted a sizable,
although declining, portion of capital
spending by the four industries in
recent years—13 percent in 1975. Given
the high rates of capital spending, this
suggests that, despite the pollution
abatement expenditures, expenditures
1964
66
68
70
72
74
76
Seasonally Adjusted
for capacity expansion have increased
*Carryover as of end of period.
sharply since 1973.
U.S. Department of Commerce, Bureau of Economic Analysis
Manufacturing Programs
SUEVEY OF CURRENT BUSINESS
15
percentage points higher than in December (table 4 and chart 7).2 This rate
is only 4 points below the peak of 86
percent in 1973. Increases occurred in
all major industries from December to
March, and were larger in durables
than in nondurables.
The capacity utilization rate in
motor vehicles rose 11 points, as producers stepped up output of large- and
intermediate-sized models to adjust
production to increased sales. The 98
percent rate was the highest since
September 1973. Partly reflecting the
step-up in motor vehicle production,
primary metals rose 9 points, to 78
percent. Stone-clay-glass rose 6 points,
to 78 percent. Both machinery industries reported increases of 3 points, to
78 percent in electrical and to 84
percent in nonelectrical. In nondurables,
rubber rose 5 points, to 86 percent;
paper and textiles, 4 points, to 89
percent; and petroleum, 3 points, to
94 percent. The textiles and petroleum
rates were the highest since December
1973.
amount still to be spent on projects
already underway. Seasonally adjusted
carryover at the end of March totaled
$38.3 billion, $700 million less than at
the end of December.
As of March 31, companies owning 37
percent of manufacturers' fixed assets
reported a need for more facilities in
light of prospective sales over the next
12 months (table 3 and chart 6); this
compares with 35 percent as of December 31, 1975. The rise was in both durables and nondurables, but was more
pronounced in the latter. Facilities
viewed as about adequate declined
from 53 percent of manufacturers' fixed
assets as of December 31 to 52 percent
as of March 31.
2. The survey asks manufacturers to report actual and preferred rates of capacity utilization for the last month of each
quarter. Utilization rates for industry and asset-size groups
are weighted averages of individual company rates. See "The
Utilization of Manufacturing Capacity, 1965-73," SURVEY OF
CURRENT BUSINESS, July 1974, pp. 47-57.
Capacity utilization
The utilization rate of manufacturing
capacity was 82 percent in March, 3
Table 3.—Manufacturers' Evaluation of
Their Plant and Equipment Facilities
[Percent distribution of gross capital assets] *
1974
[Billions of dollars]
Starts i
41
38
3f>
34
35
37
37
54
3?
35
51
31
3?
47
?8
32
48
28
32
48
?6
33
51
?6
Nondurable goods 2
44 4? 38 35
Food including beverage. _ . 33 31 30 28
68 59 51 51
Chemicals
Petroleum
. . _ 46 5?, 51 43
38
41
29
54
28
57
1973
Manufacturing 3
1974
1975
I
II
III
IV
I
47.57 52.49 48.24 12.52 12.70 10.65 12.37 11.91
Durable goods 3
Primary metals . .
Electrical machinery
._. .
Machinery, exc. electrical. _ _ _
Transportation equip.4
Stone, clay, and glass
Nondurable goods 3
Food including beverage
Textiles
Paper .
Chemicals
Petroleum
Mar.
1976
June Sept. Dec. Mar.
39.07 39.62 38.60 37.68 38.62
23.73 25.86 18.77
4.98
4.62
4.37
4.80
5.66 18.13 17.16 16.37
5.02
1.85
4.62
2.23
1.22
1.67
.51
1.18
.49
.28
1.08
.38
1.31
.64
.25
1.03
.44
.99
.63
.34
1.24
.53
1.14
.48
.34
1.31
.67
1.19
.94
.37
23.84 26.63 29.47
7.54
8.08
6.28
7.58
6.24 20.94 22.46 22.23 22.50 22.57
3.37 3.31
.71
.70
3.08 3.40
7.36 7.05
9.29 12.85
.69
.14
1.48
1.52
3.21
.66
.18
.62
2.29
3.76
1.00
.20
.50
1.51
2.54
.96
.19
.80
1.73
3.34
.84
.23
.72
1.04
2.62
5.57
7.98 94.36 95.70 100.97 100.84 104. 03
5.00
3.32
3.71
3.86
1.81
3.71
.93
2.40
6.65
7.02
Public utilities
1975
1976
8.20
2.72
5.14
3.32
1.48
38.13 45.74 34.50 12.31
6.28 10.34
8.28
1.77
2.14
2.57
1.13
2.08
.23
2.81
6.76
7.87
7.79
1.59
2.28
2.36
1.01
1.92
.25
2.74
7.42
8.97
7.40
1.49
2.17
2.18
1.04
2.08
.28
2.53
7.41
8.86
15.17
6.96
1.34
2.11
1.86
.96
2.19
.28
2.43
7.46
9.19
16.05
7.06
1.54
2.28
2.04
.98
2.25
.32
2.50
7.07
9.27
Adjusted for seasonal variation
Manufacturing 3
ble goods 3
.imary metals
/lectrical machinery
vlachinery, exc. electrical
Transportation equip.4
Stone, clay, and glass
Nondurable goods 3.
.
Food including beverage
Textiles
Paper
Chemicals...
Petroleum.
Public utilities
. .
11.64 38.46 39.06 38.51
38.96 38.31
12.12
12.80
11.29
12.16
4.89
4.69
4.74
4.41
5.70 17.90
1.42
.54
1.25
.49
.28
1.18
.40
1.32
.62
.22
1.13
.51
1.13
.61
.32
1.23
.40
.96
.52
.38
1.09
.70
1.26
.95
.39
7.23
8.11
6.55
7.76
5.94 20.56 22.12 22.08 23.40 22.45
.78
.10
1.41
1.21
3.20
.65
.17
.66
2.44
3.67
.88
.21
.65
1.48
2.77
1.05
.23
.73
1.88
3.33
.88
.19
.62
.81
2.59
5.34
9.19 14.82
5.84
1.30 89.69 94.00 103.88 104.50 100.32
8.14
1.74
2.08
2.55
1.16
2.10
.22
2.69
6.61
7.74
16.94 16.43 15.57
7.71
1.56
2.24
2.34
1.00
1.95
.24
2.67
7.44
8.70
7.42
1.52
2.24
2.14
.99
2.00
.27
2.60
7.31
8.84
7.17
1.37
2.15
1.91
1.00
2.24
.31
2.55
7.72
9.59
CO
CO
Q
1
d
o>
More plant and equipment
needed:
Durable goods 2 _
Primary metals 3
Metal fabricators
44
54
50
4ft
51
51
53
5?
Durable goods 2
Primary metals 3
Metal fabricators
5?
43
55
44
?7
51
50
41
53
48
35
5?
53
36
6?,
52
34
61
Nondurable goods 2
Food including beverage
Chemicals
Petroleum
-
48
47
52
55
52
62
33
62
45
53
60
31
61
45
62
40
68
40
47
37
46
39
40
48
Existing plant and equipment
exceeds needs:
All manufacturing
Durable goods 2
Primary metals 3
Metal fabricators
Nondurable goods 2
Food including beverage. _.
Chemicals
Petroleum
- -
9
IB
14
15
1?,
11
11
3
13
?\
?,2
18
18
12
19
20
17
90
15
16
12
15
15
13
8
11
10
10
9
7
7
1
7
8
8
4
11
4
9
6
4
3
8
9
9
9
9
9
.
of th
their current an prospecve saes or e nex
2. Includes industries not shown separately.
3. Includes machinery, transportation equipment, and
fabricated metals industries.
15.86
6.88
1.50
2.24
2.05
1.00
2.26
.31
2.43
6.95
9.34
1. Starts are estimated by adding changes in carryover to expenditures during the given period.
2. Carryover refers to expenditures yet to be incurred on plant and equipment projects already underway at end of period.
3. Includes data not shown separately.
4. Includes guided missiles and space vehicles.
NOTE.—Details may not add to totals because of rounding.
ft
<x>
CQ
About adequate:
Carryover 2
1975
CO
1
All manufacturing _
Annual
1976
%
m
All manufacturing
Table 2.—Starts and Carryover of Plant and Equipment Projects, Manufacturing and
Public Utilities
19 75
June 30
June 1976
Large firms (assets of $100 million
and over) reported a utilization rate of
84 percent, 4 points above December.
Medium- and small-sized firms reported
78 and 76 percent, respectively, each
2 points above December. Primaryprocessed goods industries reported a
5 point rise, to 83 percent, and advancedprocessed goods a 2 point rise, to 81
percent.
16
SUEVEY OF CURRENT BUSINESS
CHART 6
Manufacturers' Evaluation of Plant and
Equipment Facilities*
Percent of Capital Assets Held by Respondents
Reporting—
60
MORE CAPACITY NEEDED
50
40
30
20 I t i i I i i i.l i i i I i i i I i
70
CAPACITY ADEQUATE
60
50
40 I i i i I i i i I i i i I i i i I i i i I i t i l l i i I i i i I i i i I i i i I i
20
CAPACITY EXCEEDS NEEDS
10
i \ i i 11 11 i i i i
i.t i
1966 67 68 69 70 71 72 73 74 75 76
* Relative to prospective operations during the ensuing 12-month period.
U.S. Department of Commerce, Bureau of Economic Analysis
76-6-6
June 1976
CHART 7
Nonmanufacturing Programs
Capital spending by nonmanufacturing industries rose about 1 percent from
the fourth to the first quarter, to a
seasonally adjusted annual rate of
$65% billion. In the survey conducted
in January and February, these industries had planned a 5% percent increase.
The first-quarter shortfall was primarily
in public utilities, communications, and
air transportation. As a result of this
shortfall and a 1 percent upward
revision in second-quarter plans, a 5
percent increase from the first to the
second quarter is now planned.
Second-half plans have been revised
upward about 2 percent—primarily in
public utilities and communications.
According to these plans, third-quarter
spending will match that in the second,
and fourth-quarter spending will rise
2 percent.
For the year 1976, spending is expected to total $68.5 billion, 5.7 percent more than last year. Electric
utilities show a strong increase, 15%
percent, and gas utilities and communi-
Manufacturers' Capacity Utilization
Rates by Major Industry Groups
Percent
92
ALL MANUFACTURERS
88
84
80
76
72
92
Nondurable Goods
88
84
80
76
72
92
88
84
80
76
72
72
73
74
Seasonally Adjusted
U.S. Department of Commerce, Bureau of Economic Analysis
1969
70
71
75
76
766-7
Table 4.—Manufacturers' Capacity Utilization Rates: Operating Rates and Ratios of Operating to Preferred Rates
[Seasonally adjusted]
Ratios of operating to preferred rates
Operating rates (percent)
Industry and asset size
All manufacturers
Asset size:
$100.0 million and over
$10.0 to $99.9 million
Under $10.0 million
1974
June
Sept.
1976
1975
1974
1976
1975
Mar.
June
Sept.
Dec.
Mar.
June
Sept.
84
84
78
75
75
79
79
82
0.88
0.88
0.83
0.79
0.79
0.83
0.83
0.86
87
83
79
87
81
77
80
75
72
77
73
70
76
75
72
80
77
73
80
76
74
84
78
76
.91
.88
.85
.91
.86
.83
.83
.81
.78
.80
.79
.76
.79
.81
.78
.83
.82
.78
.84
.82
.80
.88
.84
.83
Dec.
Mar.
June
Sept.
Dec.
Mar.
Dec.
Durable goods l _ _
Asset size:
$100.0 million and over
$10.0 to $99.9 million .
Under $10.0 million
Primary metals
Electrical machinery .
Machinery, except electrical
Transportation equipment 2
Motor vehicles.
Aircraft
Stone, clay, and glass
84
84
76
74
73
78
77
81
.88
.88
.79
.78
.76
.81
.79
.84
85
83
77
90
85
88
80
87
69
81
87
82
76
90
83
89
83
92
71
81
79
75
68
82
78
87
71
70
72
70
77
72
66
79
73
84
71
73
68
68
75
71
67
69
71
82
73
80
64
67
80
74
70
74
73
84
81
93
65
74
78
73
70
69
75
81
78
87
64
72
84
76
74
78
78
84
85
98
66
78
.88
.88
.83
.94
.93
.93
.78
.81
.73
.87
.90
.87
.82
.94
.91
.94
.82
.87
.75
.87
.81
.81
.75
.85
.86
.92
.70
.66
.76
.75
.80
.77
.72
.82
.80
.88
.71
.70
.72
.72
.77
.76
.74
.72
.78
.85
.72
.75
.67
.72
.82
.79
.76
.77
.80
.88
.79
.87
.68
.79
.80
.78
.76
.73
.82
.85
.76
.82
.67
.77
.87
.82
.80
.81
.86
.88
.84
.92
.69
.83
Nondurable goods 3
Asset size:
$100.0 million and over
$10.0 to $99.9 million
Under $10.0 million .
Food including beverage
Textiles
Paper __
Chemicals _
Petroleum. .
Rubber
85
84
80
76
78
80
81
82
.90
.89
.86
.81
.83
.85
.87
.88
88
82
80
81
87
93
86
92
88
87
80
78
79
80
94
86
89
86
83
76
75
77
69
84
81
90
77
77
75
74
77
69
74
72
87
65
79
78
77
79
76
76
72
87
74
81
80
76
77
83
81
75
91
78
83
79
77
76
85
85
78
91
81
84
81
78
77
89
89
80
94
86
.94
.87
.85
.88
.90
.93
.93
.96
.92
.93
.86
.85
.87
.82
.95
.93
.93
.90
.89
.82
.81
.86
.72
.88
.88
.94
.82
.82
.82
.80
.84
.70
.76
.78
.91
.68
.84
.84
.83
.87
.77
.78
.79
.91
.78
.86
.86
.82
.85
.84
.83
.82
.94
.81
.89
.85
.83
.85
.85
.88
.87
.94
.84
.90
.87
.84
.86
.90
.92
.89
.97
.90
Primary-processed goods * 6
Advanced -processed goods
87
83
86
83
79
77
75
75
73
76
78
79
78
79
83
81
.92
.87
.91
.87
.83
.82
.79
.80
.77
.80
.81
.83
.82
.83
.87
.86
1. Also includes producers of lumber, furniture, fabricated metals, instruments, and ordnance and miscellaneous manufactures.
2. Also includes producers of other transportation equipment.
3. Also includes producers of tobacco, apparel, printing and publishing, and leather.
4. Includes producers of lumber; stone, clay, and glass; primary metals; fabricated metals;
textiles; paper; chemicals (at ^ weight); petroleum; and rubber.
5. Includes producers of furniture, electrical machinery, machinery except electrical, motor
vehicles, aircraft, other transportation equipment, instruments, ordnance and miscellaneous
manufactures, food including beverage, tobacco, apparel, printing and publishing, chemicals
<at Yz weight), and leather.
SURVEY OF CUEEENT BUSINESS
17
cations increase about 9 percent. The traffic has eased somewhat, their 1976
"commercial and other" group in- plans may be revised upward during
creases 3 percent, primarily in the the year.
Starts by public utilities dropped to
trade and service industries. Transportation industries will decrease spend- $1.3 billion, from $5.8 billion in the
ing: airlines, 26 percent; railroads, 15 fourth quarter and $14.8 billion in the
percent; and "other transportation/' third quarter of 1975. Carryover de6 percent. These decreases are some- clined $4.2 billion in the first quarter,
what smaller than those reported in to $100.3 billion at the end of March.
the previous survey; since the profit Although declines in starts and carrysqueeze resulting from higher fuel costs over usually imply a weakening in
and reduced freight and passenger capital spending, the large amount of
carryover in the utility industry could
support continued growth in its spending for the near future. Utilities'
carryover has increased fourfold in the
past 5 years and, at the end of March,
represented 18 quarters of spending at
the first-quarter rate. The increase in
carryover was principally due to the
start of construction of new electric
generating facilities and a lengthening
of construction periods for such
projects.
June 1976
Table 5.—Expenditures for New Plant and Equipment by U.S. Business l
[Billions of dollars]
Annual
1974
1975
Quarterly, unadjusted
1975
19762
Quarterly, seasonally adjusted annual rates
1976
1975
1976
I
II
III
IV
I
112
III 2
IV 2
I
II
III
IV
I
112
III 2
IV 2
112.40
112.78
121. 03
25.82
28.43
27.79
30.74
25.87
30.51
30.49
34.16
114.57
112.46
112. 16
111.80
114. 72
121. 14
123. 00
124. 40
46.01
47.95
52.52
10.84
12.15
11.67
13.30
10.96
13.08
13.31
15.18
49.05
48.78
47.39
46.82
49.21
52.28
54.06
54.06
22.62
21.84
22.74
5.10
5.59
5.16
5.99
4.78
5.64
5.73
6.58
22.86
22.59
21.01
21.07
21.63
22.68
23.42
23.12
Primary metals 3
Blast furnaces, steel works.
Nonferrous metals
4.95
2.12
2.33
5.99
3.03
2.28
5.60
2.77
2.06
1.32
.60
.54
1.57
.76
.65
1.42
.74
.52
1.68
.93
.56
1.21
.61
.45
1.40
.68
.51
1.43
.68
.52
1.56
.80
.58
5.82
2.78
2.29
6.45
3.03
2.78
5.68
3.00
2.07
5.89
3.16
2.03
5.51
2.90
1.96
5.65
2.71
2.11
5.78
2.82
2.07
5.47
2.70
2.10
E lectrical machinery _
Machinery, except electrical
.
... .-
2.97
2.31
2.55
.54
.56
.54
.67
.48
.66
.64
.77
2.61
2.29
2.22
2.20
2.30
2.74
2.60
2.53
4.42
4.50
5.01
1.03
1.16
1.10
1.21
1.02
1.20
1.29
1.50
4.74
4.60
4.53
4.22
4.70
4.77
5.28
5.23
Transportation
ment 3
Motor vehicles
Aircraft *
3.75
2.70
.80
3.24
2.06
.92
3.45
2.38
.84
.79
.53
.20
.85
.53
.26
.81
.50
.23
.80
.51
.23
.75
.48
.21
.82
.57
.19
.88
.61
.20
1.00
.71
.24
3.46
2.37
.84
3.36
2.04
1.09
3.23
2.00
.89
2.99
1.90
.87
3.25
2.14
.86
3.20
2.22
.77
3.49
2.44
.78
3.82
2.70
.94
1.44
5.10
1.42
4.38
1.56
4.58
.31
1.11
.37
1.08
.31
.98
.43
1.21
.35
.98
.39
1.17
.37
1.12
.44
1.32
1.34
4.89
1.51
4.40
1.31
4.05
1.51
4.25
1.56
4.30
1.54
4.78
1.57
4.71
1.55
4.52
All industries
Manufacturing
Durable goods
equip-
Stone, clay, and5 glass
Other durables _ _ - . .
23.39
26.11
29.78
5.74
6.55
6.51
7.30
6.18
7.43
7.58
8.59
26.20
26.19
26.38
25.75
27.58
29.60
30.64
30.95
Food including beverage. . „
Textiles
Paper . .
... ._ .
Chemicals
3.25
.84
2.58
5.69
3.26
.66
2.95
6.25
3.92
.88
3.49
6.75
.74
.15
.65
1.42
.82
.15
.69
1.63
.84
.17
.71
1.52
.85
.19
.90
1.68
.78
.19
.65
1.43
1.04
.22
.82
1.68
1.05
.22
.92
1.64
1.05
.25
1.10
2.01
3.32
.63
3.00
6.29
3.19
.59
2.75
6.46
3.33
.70
2.86
6.40
3.21
.74
3.15
5.89
3.50
.76
2.98
6.32
4.14
.92
3.33
6.62
4.11
.87
3.72
6.84
3.90
.97
3.82
7.16
Petroleum
Rubber ...
Other nondurables
8.00
1.47
1.55
10.51
1.00
1.48
12.00
1.19
1.55
2.19
.26
.33
2.66
.25
.35
2.65
.24
.37
3.02
.25
.42
2.54
.24
.36
2.98
.29
.40
3.05
.33
.37
3.44
.34
.42
10.38
1.11
1.46
10.79
1.04
1.36
10.56
.98
1.54
10.32
.89
1.55
11.38
1.06
1.59
11.84
1.20
1.57
12.27
1.30
1.53
12.39
1.19
1.51
Nondurable goods
fl
.
66.39
64.82
68.50
14.98
16.28
16.12
17.44
14.91
17.43
17.18
18.98
65.52
63.68
64.76
64.98
65.51
68.86
68.93
70.34
Mining.
3.18
3.79
3.81
.91
.97
.94
.97
.92
.95
.95
.99
3.76
3.78
3.82
3.82
3.83
3.68
3.85
3.90
Railroad.
2.54
2.55
2.16
.59
.71
.62
.62
.49
.56
.56
.55
2.39
2.70
2.75
2.39
2.08
2.16
2.37
2.06
Air transportation
2.00
1.84
1.36
.44
.47
.50
.43
.26
.43
.34
.32
2.09
1.60
2.12
1.65
1.18
1.47
1.45
1.30
Other transportation
2.12
3.18
2.99
.62
.77
.85
.93
.72
.86
.80
.61
2.82
2.75
2.99
3.56
3.29
3.32
2.96
2.47
20.55
17.63
. . . 2.92
20.14
17.00
3.14
23.07
19.65
3.43
4.42
3.84
.58
4.94
4.15
.79
5.07
4.16
.91
5.70
4.85
.85
4.79
4.18
.62
5.74
4.90
.84
5.82
4.87
.96
6.72
5.70
1.02
20.28
17.03
3.25
19.52
16.41
3.11
19.79
16.58
3.21
20.91
17.92
3.00
21.91
18.56
3.36
22.81
19.46
3.35
22.90
19.54
3.36
24.40
20.80
3.60
12.74
20.60
13.83
21.28
3.11
4.88
3.22
5.19
3.14
5.00
3.26
5.52
2.92 J8.88
4.82
8.71
9.79 (1 13.36
20. 82
12.50
20.83
12.95
20.34
12.22
20.44
12.54
20.68 | 35.42
35.41
36.21
Nonmanufacturing
-
Public utilities
Electric
Gas and other .
Communication ... ... . ...
Commercial and other •
13.96
22.05
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 1976. The estimates for the second, third, and fourth quarters of 1976 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, 1976 expenditures
were expected to be $122.17 billion for all industries, $54.22 billion for manufacturing and
$67.95 billion for nonmanufacturing.
209-299 O - 76 - 3
3. Includes data not shown separately.
4. Includes guided missiles and space vehicles.
5. Includes fabricated metal, lumber, furniture, instruments, and 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.
Report of the Advisory Committee on the
Presentation of Balance of Payments Statistics
THIS is the official report oj ike Advisory Committee on the
Presentation oj Balance oj Payments Statistics. The Interagency Committee on Balance of Payments Statistics reviewed
the report, accepting nearly all oj the specific recommendations
made by the Advisory Committee. Office of Management and
Budget actions with respect to the Advisory Committee's recommendations are indicated on page 27.
Background and Purpose
J_ HIS report conveys the recommendations of the Advisory Committee on
the Presentation of Balance of Payments Statistics (Advisory Committee)
(See box.) It reflects the broad agreement that was reached in the course of
four meetings between January and
November 1975, during which members
of the Committee heard and exchanged
views on a wide range of questions
influencing the analysis, interpretation
and presentation of the balance of
payments statistics.
The President, through the Director
of the Office of Management and
Budget (OMB), is authorized and
directed to develop programs for the
improved gathering, compiling, analyzing, publishing, and 1disseminating
of statistical information. The usefulness of the present tabular presentation
of balance of payments statistics has
been questioned by responsible people,
both in and outside of Government,
most recently because of changes in
the international monetary environment. A decade has passed since the
statistical presentation was discussed
by an outside group of experts, the
Review Committee for Balance of
Payments Statistics (Review Committee), which issued its report to2 the
Bureau of the Budget in 1965. In
1. Section 103 of the Budget and Accounting Procedures
Act of 1950, 64 Stat. 834, 31 U.S.C. 186.
2. Review Committee for Balance of Payments Statistics,
The Balance of Payments Statistics of the United States: A
Review and Appraisal, U.S. Government Printing Office,
1965. Hereinafter cited as Review Committee Report.
18
the extent this is necessary to
accomplish the overall objectives."
Summary of the Report and
Recommendations
The United States balance of payments is a record of this country's international transactions, which are an
integral part of the national economy.
Because of major changes in the world
economy and in the international monetary system in the past few years—
notably the widespread abandonment
order to secure the advice of a similarly of par values—the form in which the
knowledgeable group of experts from balance of payments is presented has
the private sector, the Director of been subjected to recent question and
the Office of Management and scrutiny. The principal concern of the
Budget created the present Advisory Advisory Committee was to determine
what form of presentation of the U.S.
Committee.
balance
of payments will facilitate the
The basic purpose of the Advisory
Committee and the scope of its inquiry use of the data without encouraging
were stated in its charter. The Advisory preconceived and perhaps misleading
conclusions as to their significance for
Committee was established:
the United States and other countries.
"To advise the Director of the The
detailed data, of course, must
Office of Management and Budget on
to be as complete and as
improvements in the presentation of continue
accurate
as
possible.
the official statistics on the United
In general, the Advisory Committee
States balance of payments which
that a meaningful picture of
will make the data more useful for the concluded
U.S. international transactions can be
analysis of the U.S. balance of pay- obtained
only from an analysis of inments and exchange rate developments.
formation
on seveial if not all of the
"The Committee will advise the categories of
transactions, rather than
Director of the Office of Management by concentration
one or even several
and Budget on issues pertaining to overall balances. on
The
Committee recsuch matters as:
ommends
rearranging
the tables on
• "The conceptual problems in in- U.S. international transactions
to faterpreting the U.S. balance of cilitate this analysis, discontinuing
the
payments and exchange rate de- publication of some well-known balvelopments.
ances which have become less useful
• "Problems of analysis of the data for
analysis in recent years, and reas presently presented by the De- ducing
attention paid to other
partment of Commerce in their balancesthe
demoting them to memopress releases and tables in the randum by
items. The Committee also
SURVEY OF CURRENT BUSINESS.
• "Recommendations for alternative recommends the creation of two new
overall measures of the U.S. bal- tables containing additional useful inance of payments statistics which formation.
The principal recommendations of
would facilitate a more useful and
meaningful analysis and summary the Advisory Committee are as follows:
1. The first news release of the
of the data.
• "Recommendations for needed im- quarterly data on United States inprovements throughout the balance ternational transactions, available 6
of payments statistical tables to weeks after the end of the quarter,
June 1976
should not present any balances. The
committee emphasizes that the Bureau
of Economic Analysis of the Department of Commerce should continue to
release the data in a timely fashion and
that the release should contain all of
the basic information available at that
time.
2. Table 1, entitled "U.S. Balance
of Payments Summary" and published
quarterly in the SURVEY OF CURRENT
BUSINESS through March 1976, should
be discontinued. This is the analytical
table which presents the full range of
net balances commonly used for
analysis.
3. No new overall balance should be
constructed to replace the balances
to be eliminated.
4. Table 2, entitled "U.S. International Transactions," should be recast and become the new table 1. The
Committee recommends that no balances be presented in the body of this
table. However, the table should include the present balance on goods and
services and the balance on current
SUEVEY OF CUEKENT BUSINESS
account as memorandum items. In
addition, there should be two memorandum items showing the net change in
U.S. official reserve assets and the net
change in U.S. liabilities to foreign
official agencies. While these two items
comprise the financing of the present
balance on official reserve transactions,
the Committee recommends that the
net balance of these summary items of
official transactions not be presented.
5. The recommendations of the Advisory Committee call for certain
changes in the present table 2 so that
it can serve as the new table 1. It proposes several major changes:
(a) Transactions in U.S. official reserve assets, excluding allocations
of Special Drawing Eights
(SDEs), would be in a new location, between unilateral transfers and all other U.S. Government capital flows. The intent
of the Advisory Committee is to
emphasize that changes in reserve assets are not the passive
consequence of all other interna-
Advisory Committee on the Presentation of Balance of
Payments Statistics
Edward M. Bernstein
E.M.B. Limited
Washington, D.C.
James Burtle
W. R. Grace and Company
New York, New York
Rimmer de Vries
Morgan Guaranty Trust Company
New York, New York
Peter Kenen
Princeton University
Princeton, New Jersey
Wilson Schmidt
Virginia Polytechnic Institute
and State University
Blacksburg, Virginia
Charles F. Schwartz
International Monetary Fund
Washington, D.C.
Robert Ulin
Mobil Oil Corporation
New York, New York
Marina Whitman
University of Pittsburgh
Pittsburgh, Pennsylvania
Walter Salant
Brookings Institution
Washington, D.C.
NOTE.—Joseph W. Duncan, Deputy Associate Director, Office of Management and
Budget, served as moderator. David T. Hulett, Chief, Economic Statistics Branch,
Statistical Policy Division, Office of Management and Budget, served as Executive
Secretary.
19
tional transactions, particularly
under floating exchange rates
even when those rates are managed by official intervention.
(b) The distinction between flows of
"liquid" and "nonliquid" assets
should be eliminated throughout
the statistical tables. The Advisory Committee concluded that
the distinction, as it has been
made in the statistics, does not
correspond closely to the concept
it is intended to represent, since
transactions in assets which appear on their face to be "nonliquid" can easily be reversed.
(c) The presentation of capital flows
involving foreign assets in the
United States should be reorganized substantially to separate,
as far as possible, transactions
with foreign official institutions
from those with other foreign
parties (individuals, banks, and
nonbanking concerns).
(d) The title of "Errors and omissions" is changed to "Statistical
discrepancy," in order to identify
it clearly as a residual.
(e) A net increase in U.S. official
reserve assets should be shown
with a negative ( —) sign indicating an outflow of capital, and
an increase in U.S. liabilities to
foreign official agencies should
have a positive (+) sign indicating an inflow of capital to
agree with the method used to
indicate inflows and outflows of
other capital transactions. In the
present table 1, the sum of the
two items noted above, with the
sign reversed, equals the official
reserve transactions balance.
Adoption of these recommendations
would require the following improvements in the classification of U.S. international transactions statistics that
could be accomplished readily with
presently available data:
• Foreign official purchases of U.S.
Treasury securities should be differentiated from foreign official purchases of securities issued by other
U.S. Governmental agencies; and
• The present category, "U.S. liquid
liabilities to private foreigners,"
should be split into two lines,
Treasury securities and other liabilities reported by U.S. banks,
but should not be identified as
"liquid" liabilities in the future.
The proposed format does not include
the new lines that might be required to
report the reinvested earnings of majority owned direct investment affiliates, U.S. and foreign. The Committee
believes, however, that these reinvested
earnings should be included as soon as
20
possible in the body of the tables,
rather than as memorandum items,
and welcomes the prospect of prompt
quarterly reporting.
6. The second news release, available
10 weeks after the close of the quarter
covered, should be consistent with the
recommended structure of the SURVEY
OF CURRENT BUSINESS table 1 proposed
above.
7. The Department of Commerce
should develop a table which shows the
transactions in U.S. official reserves,
foreign official assets in the United
States, and U.S. or foreign drawings
or repayments under reciprocal credit
(swap) arrangements. While some official agency transactions are made for
investment purposes, many such transactions are made to influence the value
of a country's currency or to avoid
disorderly markets.
8. The Department of Commerce
should devise a table, and perhaps
charts, presenting changes in exchange
rates. A number of different measures
could be shown, including comparisons
with groups of foreign countries or
bilateral comparisons with major trading partners. The details of such
standard tables and charts should be
left to the Department in consultation
with other Federal agencies. The exchange rate data should not be appended to the proposed table 1 but
should be given a high priority in the
SURVEY OF CURRENT BUSINESS article.
The Committee realizes the limitations
of such comparisons, which would not
in themselves necessarily be related to
U.S. international transactions or indicate a change in the U.S. competitive
position.
9. The words "surplus" and "deficit"
should be avoided insofar as possible
in the text of the news releases and
SURVEY OF CURRENT BUSINESS articles.
These words are frequently taken to
mean that the developments are "good"
or "bad" respectively. Since that interpretation is often incorrect, the
terms may be widely misunderstood
and used in lieu of analysis.
10. The Department of Commerce
should continue to publish the present
data in sufficient detail to permit
users to calculate for themselves any
of the traditional balances which they
continue to find useful except those
based on the present distinction between liquid and nonliquid assets which
cannot be made with available data.
Thus, for example, anyone wishing to
calculate the official reserve transactions balance would continue to be able
to net changes in U.S. official reserve
SUEVEY OF CURRENT BUSINESS
assets against
changes in foreign official
capital.3
General Discussion
Multiple uses of the data.—The Advisory Committee recognized that balance of payments statistics are used by
many people, in and out of government,
with diverse needs. Interpretations of
the data necessarily reflect the users'
insights and judgments concerning the
manner in which market forces and
public policies affect international transactions in goods, services, and financial
assets.
Users of these statistics vary in their
purposes and analytical expertise. Some
users feel the need for an easily understood summary measure of the overall
international position of U.S. economic
transactions, while others, more thoroughly familiar with the complexities
of the data and with more time to
perform their analyses, tend to bypass
the summary measures in favor of the
underlying details. Some users value
continuity in statistical presentation
for comparison over long periods of
time. The news media have a particularly difficult job because of limitations of
space and time in which to report
events to the public. While some people
concentrate on the quarterly news
releases and value timeliness of the
information, others rely on the detail
and analysis presented by the Department of Commerce in the periodic
articles in the SURVEY OF CURRENT
BUSINESS.
These different viewpoints were fully
considered by the Advisory Committee.
No member believed that any single
format will satisfy every user of the
data, and it may be expected that some
users, or even classes of users, would
find the existing presentation more
convenient than that proposed in this
Report. In arriving at its recommendations for improvement, the Advisory
Committee had to determine, in its
judgment, which improvements would
best combine an accurate reflection of
the realities of the present international
situation with the greatest usefulness
of the data to these diverse publics.
Utilization of the data in a changing
environment.—The Advisory Committee
was particularly concerned that the
presentation of the balance of payments
statistics should be relevant to the
current institutional environment and
reflect accurately the international
transactions of the United States. A
significant factor contributing to the
3. The Department of Commerce has made one technical
improvement in these figures by identifying foreign official
purchases of stock in U.S. companies for inclusion in "Other
foreign official assets" and for the users' own calculation of
the official reserve transactions balance.
June 1976
usefulness of the data is the preservation of basic stability in the tabular
presentation over time, to the extent
that such stability is compatible with
changes in underlying conditions. In
addition, the maintenance of analytical
neutrality was viewed as very important, both for its own sake and for
the purpose of maintaining a high
degree of credibility for Federal statistics. The statistics should be presented
in a way that does not imply unnecessary judgments about economic behavior or support for any particular
economic theory.4 This implies that the
presentation should not be predicated
upon any judgment about the motives
which underlie particular transactions
or groups of transactors. Since it is not
possible to infer from the data themselves whether a transaction is determined by shortrun or longrun objectives, or whether an official tranaction
is "autonomous" or "accommodating,"
the official statistics should avoid the
appearance of revealing more than is
known.
If the statistical presentation is to be
useful to the public and to Government
officials, it must reflect major changes
in institutional arrangements and in
the world economy. Since the statistical
presentation was last examined by the
Review Committee of nongovernmental
experts more than a decade ago, important developments have led some
observers to question the extent to
which the presentation of the data is
consistent with the existing international monetary system.
The question of an overall balance.—
The main issue addressed by the Advisory Committee was whether the
United States Government should continue to publish, in its balance of payments statistics, an overall balance
(or balances) which purports to summarize the general condition of U.S.
international transactions in a useful
and objective fashion. Here, of course,
the Advisory Committee was faced
with many of the same issues that
confronted the Review Committee a
decade ago. Every member of this Committee endorses the warning issued by
the11 earlier Committee.
. . . No single number can adequately describe the international
position of the United States during
any given period. The definition of an
international surplus or deficit is an
analytical problem rather than an
accounting problem. The appropriate
focus of analysis will change with
changing circumstances and with the
nature of the particular problem be4. The Advisory Committee agreed with several of the
criteria adopted by the earlier Review Committee. See Review Committee Report, pp. 124-5.
June 1976
ing analyzed. Data must therefore
be compiled and presented in a form
that facilitates a wide variety of
analyses. Furthermore, useful analysis of the international position is
rarely possible on the basis of balance of payments data alone; internal developments and policy objectives here and abroad 5need also
to be taken into account."
Several members of the Advisory
Committee felt that no such single
number is sufficiently useful today to
justify its continued publication in the
official tabulations. At the same time,
all members agreed that some of the
balances in the present table 1 published
quarterly in the SURVEY OF CURRENT
BUSINESS do not provide summaries
of the international position of the
United States that are useful for
accurate analysis.
Three overall balances—the net liquidity, current account and long-term
capital, and official reserve transactions
balances—were discussed at length by
the Advisory Committee in an effort
to determine whether they continue to
be analytically useful. The Committee's
considerations are summarized here
and presented in full detail in a later
section of this Export.
The net liquidity balance and the
balance on current account and longterm capital suffer primarily from
practical difficulties involved in attempting to measure the concepts they
are intended to portray. The net
liquidity balance attempts to measure
transactions that can be reversed in
the short run, and to distinguish
between liquid and nonliquid shortterm financial assets. The Committee
concluded that this distinction cannot
be made in practice, and that the
categories used are too arbitrary to
serve as a distinct classification in the
statistics.
The balance on current account and
long-term capital was intended to
reflect more enduring trends in our
international transactions, but it does
not do so adequately. The Committee
noted that some capital flows, especially financial transactions with foreign
affiliates which are of necessity included in this balance, are quite
volatile. Also, the original term to
maturity, the statistician's cutoff point,
may not be the asset's current term
to maturity when the transaction is
made. Finally, long-term investment
decisions may be implemented with
short-term assets and vice versa. In
general, the time horizon of investors
does not necessarily coincide with the
5. Review Committee Report, p. 101.
SUEVEY OF CUEEENT BUSINESS
21
term to maturity of the asset bought or currencies' values as mentioned above.
Second, much of the increase in U.S.
sold.
Since the Advisory Committee mem- liabilities to foreign official agencies—
bers generally agreed from the outset, particularly those of the oil exporting
based on these considerations, that the countries—-is the result of those agenDepartment of Commerce should not cies' investment decisions rather than a
continue to publish the net liquidity reflection of their exchange rate policies.
balance and the balance on current Thus, a surplus or deficit on the official
account and long-term capital, a great reserve transactions basis cannot necesdeal of analytical attention and em- sarily be interpreted as indicating relaphasis would be put on the official tive strength or weakness of the interreserve transactions (OET) balance if national position of the dollar. Third,
it were retained. During the discussion, while some analysts view the official
a majority of the Committee members reserve transactions balance as an
came to hold the view the OET important element affecting the U.S.
balance could not withstand such money supply, this connection is not a
close one in the Committee's view. The
When the OET balance was in- Committee reached this conclusion betroduced a decade ago, its primary cause foreign monetary authorities tend
purpose was to reflect the extent of to use the international reserves they
official intervention in foreign exchange acquire to purchase U.S. Treasury
markets to maintain the relative values obligations and interest-bearing bank
of currencies within narrow limits. deposits, and such transactions do not
This was necessary to comply with the affect the U.S. monetary base or Ml.
The Advisory Committee also confixed exchange rate rules under the
Bretton Woods Agreement. The anal- sidered whether to recommend one or a
ysis of the balance of payments number of new overall "balances" as a
statistics came to focus on changes in substitute for the traditional balances
official reserves, on the assumption that it found wanting. The Committee
that they largely reflected such inter- felt, however, that to do so would
vention. It was for this reason, among imply that Federal officials and the
others, that the Eeview Committee for public could rely upon such new measBalance of Payments Statistics rec- ures to reflect the net result of the many
ommended in 1965 that the main complex forces which affect U.S. interbalance of payments table be or- national transactions. The Committee
ganized to focus on the transactions of concluded that no new balance would
the monetary authorities, on what is serve this purpose in a satisfactory way,
now known as the official reserve and therefore recommends that no new
transactions balance, as the most useful balance be presented.
Since the analysis of U.S. internastarting point for balance of payments
tional transactions is a complex matter
analysis.
While there is still official interven- which requires a consideration of all of
tion, it becamer discretionary rather the constituent accounts, the Comthan mandator} in March 1973. Dif- mittee also considered whether to reca larger number
ferences in judgment concerning the ommend publishing
6
implications of this fundamental change of balances. Even though the Commitfor the meaningfulness of the present tee could not discover a new balance
statistical presentation were the prin- concept which would provide a better
cipal source of disagreement among the overall summary of international transmembers of the Advisory Committee. actions in today's environment, a larger
Some members felt that the transac- number of less adequate overall baltions of the monetary authorities are ances might be an acceptable
sufficiently significant now, or may compromise.
Some Committee members argued
become so, to warrant the continued
that
to retain only one or two balances
use and publication of the official
reserve transactions balance. Other would focus too much attention on
members argued that the advent of those balances and might lead to their
"managed" floating exchange rates and being interpreted as an adequate sumother developments, discussed in more mary result of U.S. international transdetail below, have ended its usefulness, actions. Several members felt the need
and urged the Committee to recom- to present some summary of the data,
mend that its publication be since a large table consisting of unsummarized numbers would be difficult for
discontinued.
users to assimilate and for the DepartThe majority of the Committee mem- ment
of Commerce to describe in the
bers concluded that the OET balance
was no longer justified for three major
reasons. First was the advent of gener6. The 1971 interagency discussions resulted in the addition
two new balances, the balance on current account and longally floating exchange rates and discre- ofterm
capital and the net liquidity balance. See SURVEY OF
tionary official intervention to affect CURRENT BUSINESS, June 1971.
22
news releases and SURVEY articles. In
the end, however, the members of the
Committee agreed that, as a general
principle, any balance which is recognized as being seriously deficient should
not be published, and that a multiplicity
of flawed balances would tend to cause
public confusion and disenchantment
with the presentation of the data.
Partial balances.—Having decided to
recommend elimination of the balances
on net liquidity, current account and
long-term capital, and official reserve
transactions, the Committee turned its
attention to the partial balances. The
Committee recommends retention of
two of these, the goods and services
and current account balances, largely
because of their relationship to other
economic accounting systems. A similar
relationship is not present with the
merchandise trade balance or the balance on goods, services, and remittances, which the Committee recommends be discontinued. The Committee
further recommends that the two balances to be retained be relegated to
memorandum status in order to reduce
the emphasis placed on these balances
as summary indicators of the U.S.
international transactions.
The balance on goods and services
has, until recently, been conceptually
equal to net exports in the U.S. national
income and product accounts
and is
still closely related to it.7 The Committee decided that the connection with
other accounting systems is an important consideration in determining the
analytical usefulness of this balance.
Thus, the Committee recommends retaining this balance as a memorandum
item.
The balance on current account is
widely used and referred to in international comparisons of countries' relative
strengths or weaknesses in international
transactions, notably by the Organization for Economic Cooperation and
Development (OECD). It is available
on a timely and relatively comparable
basis for all the leading industrial
countries. In addition, this balance
(plus allocations of Special Drawing
Rights) is equal to net foreign investment in the U.S. national income and
product accounts, and it is an element
in the U.S. international investment
position account published by the
Department of Commerce on an annual
basis. The Committee was aware of
problems in distinguishing between
Government grants which are above the
line of the current account balance, and
7. Because of a change in national income accounting, the
U.S. Government's interest income payments to foreigners
will be excluded from net exports in the GNP accounts. This
will require a reconciliation with the goods and services
balance in international accounts in the future. See SURVEY
OF CURRENT BUSINESS, January 1976.
SUEVEY OF CUKKENT BUSINESS
Government capital transactions which
are below the line. In the Committee's
view, however, the linkage with other
data systems is important and it,
therefore, recommends retaining the
current account balance.
The merchandise trade balance, while
available more promptly than the current account balance, was viewed by
the majority of the Committee members
as being too narrow a measure to single
out in the summary of U.S. international transactions. It tends to emphasize excessively the distinction between goods and services, which is of
little economic significance. The trade
statistics published monthly by the
Census Bureau are available for those
who use such data on a current basis,
and this balance should be omittecl from
the balance of payments tables.
The balance on goods, services, and
remittances rests on the distinction between private remittances, Government
and private pensions, and other transfers (which for the purposes of this
balance are above the line) on the one
hand, and U.S. Government grants
(which are below the line) on the other.
This balance thus avoids the difficult
problem of segregating Government
grants from Government capital transactions. Also, it is particularly relevant
for analyses of the world payments situation, being regularly used for this
purpose by the International Monetary
Fund. The Committee concluded, however, that government and private remittances, pensions, and other transfers
are relatively small and stable elements
for the United States. By and large, the
purposes to be served by this balance
are already accomplished by the goods
and services balance. The Committee
did not feel that the retention of the
goods, services, and remittances balance, which would be a third partial
balance, was justified.
Reorganization oj ike table entitled,
"U.S. International Transactions."—
The Committee explored other ways to
present the data in an analytically useful way, attempting to find an organizing principle without showing overall
balances. While no need was felt for
changing the classifications in the current account, it was agreed that a
change in the classification in the capital account was desirable. The Committee concluded that the organization
of the present table 2 could be improved
to serve as the new table 1.
The Committee discussed the use of
the term-to-maturity and liquidity concepts as major organizing principles.
While the present distinction among
assets based on their original term-tomaturity bears no necessary relationship to the permanence or reversibility
June 1976
of a transaction, it is used in other
statistical measures and is at least
objectively determined. Hence, the
Committee recommends that this distinction be retained as a subcategory in
the accounts, but that it should not be
a major basis for classification.
While the distinction among financial
assets based on their original term-tomaturity has some limited utility, the
distinction between liquid and nonliquid assets has involved, in practice,
additional judgments about the characteristics of individual assets such as
their marketability characteristics. The
drawing of such a sharp distinction
based on the nature of the assets was
viewed by the Committee as being too
arbitrary in practice. As already indicated, the Committee recommends
eliminating the distinction between
liquid and nonliquid capital transactions throughout the accounts. We
return to this matter in more detail
below.
The Committee concluded that the
most useful and analytically neutral
classification principle involved a breakdown of the capital account by type of
transactor rather than by type of asset.
The Committee considered whether
it would be analytically useful to use
bank or bank-reported transactions,
both U.S. and foreign, as a major
classification in the table, since this
would tend to facilitate the analysis of
the effect of banks' transactions on
exchange rate movements. In addition,
for some uses the bank transactions
could be combined with reserve transactions in a measure which would include broadly those official actions
undertaken through banks in addition
to those conducted directly by official
agencies. The basic weakness of this
approach, however, is that the present
system of collecting data from banks
commingles data on banks' transactions
for their own account with those
conducted for their customers. While
customers' accounts may not fluctuate
greatly on a quarter-to-quarter basis,
they tend to grow over time and are
not determined solely by the banks'
decisions. Largely because of this weakness in the data, the Committee decided
not to recommend using a bankreported classification as a major category in the capital accounts of the new
table.
The Committee decided that it was
important to preserve neutrality in the
statistical presentation by treating
transactions made by similar transactors in a symmetrical fashion. One
change which would help to achieve
this goal would be to present all U.S.
Government capital transactions, including both reserves and other flows,
June 1976
in the same part of the table rather than
in different parts as they are now. In
view of these considerations, the Committee recommends: (a) that the capital
accounts contain major classifications
for U.S. assets abroad and for foreign
assets in the United States; (b) that
subclassifications be constructed for
those transactions which are made by
governments and those made by private transactors; and (c) further distinctions—for instance those between
official reserves and other governmental
transactions, and between bank-reported transactions and those reported
by nonbanking concerns—should be
based, insofar as possible, on the
principle of symmetry.
Other data.—The major reason underlying the continued support by some
members of the Advisory Committee
for the publication of the official
reserve transactions balance was their
belief that official intervention in the
foreign exchange market for the purpose
of influencing the value of countries'
currencies is still of major importance.
With the variety and extent of discretionary international transactions b}^
official agencies, however, the Committee members agreed that it is
extremely difficult to measure official
intervention. Moreover, with the advent of generally floating exchange
rates, disequilibria in foreign currency
markets are now reflected largely in
exchange rate changes. The Committee concluded that it is necessary to
provide and to highlight other relevant
data in addition to the transactions
data reported in the recommended
table 1.
(a) Data on foreign exchange rates.—
Since changes in international transactions now have a greater impact on
foreign exchange rates than they did
before 1973, the Committee felt that
the publication of U.S. international
transactions data should include more
references, including tables and/or
charts, to exchange rate movements as
an aid to understanding current developments in these transactions. Measures to be considered for publication
would include changes in exchange
rates with major U.S. trading partners,
changes in exchange rates weighted by
the share of a foreign country in U.S.
trade or in world trade, and changes in
exchange rates with identified groups of
foreign countries such as the Group of
Ten. It should be left to the Department
of Commeice, in consultation with other
Federal agencies, to decide which
specific comparisons should be published. Some members of the Committee
felt that, if feasible, comparable tables
should also be published showing exchange rates adjusted for local price
SUEVEY OF CUKRENT BUSINESS
movements for the same countries or
groups of countries.
(b) Official intervention in the foreign
exchange market.—As an aid to an
understanding of the variety and extent
of transactions in exchange markets by
official agencies, the Committee recommends the development of a table that
would show not only changes in official
reserve agencies' transactions in reserves, but also borrowing and lending
among such agencies under swap
arrangements. It is recognized that even
this detail includes only a portion of the
exchange market activity in which
monetary authorities participate directly. While these swap transactions
do not appear in the official Department
of Commerce table at present, they are
important to an understanding of
official actions designed to influence exchange rate movements.
The news releases.—-The Committee
discussed the purposes to be served by
the two news releases on balance of
payments data. The apparent need for
comprehensive measures of the U.S.
international financial position was
given careful consideration. The news
media and some other users rely on the
releases for the picture of the overall
U.S. performance. This report, however, indicates that the practical difficulties of providing such a measure
cannot be resolved to the satisfaction
of a majority of the members.
The timing of the first news release
has been determined by the availability
of the data needed to prepare estimates
of the official reserve transactions
balance and the net liquidity balance.
The second release, which includes all
the data to be published in the SURVEY
OF CURRENT BUSINESS, has presented
the "basic" balance for the first time
each quarter.
The major questions were (1) whether
there would be any continued need for
the first release if the Advisory Committee's recommendation to discontinue
publication of the two balances highlighted there were adopted, and (2)
whether a meaningful and useful leading
paragraph could be prepared for the
media's use. It was noted that the
Department of Commerce has reorganized the news releases in recent
quarters to deemphasize the balances.
The Committee concluded that the
first release would continue to serve
the extremely useful purpose of making
data available in a timely manner.
Several members expressed the need to
issue as soon as possible the information on some important types of capital
transactions and on merchandise trade
adjusted to the balance of payments
basis quarterly.
23
Since, in the Committee's view, the
desire for a summary measure cannot
be accommodated, the Department of
Commerce will have to start the first
news release with a discussion of the
principal developments during the quarter, wherever they appear in the accounts. This situation may not be
wholly satisfactory to every user of
that release. However, since the Committee seriously questioned the usefulness of any one balance as a comprehensive indication of the developments
in U.S. international transactions, it was
concluded that all balances should be
omitted from the first news release,
even as memorandum items.
Since the second news release presents, in abbreviated form^the data to
appear in the quarterly SURVEY OF
CURRENT BUSINESS article, the table
contained in that release should conform closely to the recommended format
for table 1.
Detailed Discussion of Specific
Balances
The Advisory Committee has already
expressed the view that no single balance can be employed under present
circumstances to measure the overall
condition of the international transactions of the United States. It has
listed some of its reasons above and
elaborates on these in the next section
concerned with the balances recommended for elimination. The Committee
nevertheless believes that certain partial balances have analytical significance
which justifies their retention as memorandum items in the quarterly SURVEY
OF CURRENT BUSINESS article and the
second news release.
Balances to be retained
Balance on current account.—The balance on current account—which covers
goods, services, remittances, and Government grants—is used by many other
countries. Furthermore, with adjustment for errors and omissions and for
valuation changes, this balance is the
mirror image of changes in the Nation's
net financial claims on foreigners. The
balance on current account has a major
difficulty, however. It draws a sharp
distinction between U.S. Government
grants to foreigners which appear above
the line, and U.S. Government capital
transactions (primarily Government
loans) which appear below the line.
The Committee recognized that, in
some cases, this distinction is more
apparent than real. Many U.S. Government loans contain a grant element
(e.g., a grace period, a concessional
interest rate, or provision for repayment
in local currency), and to some extent
24
this balance treats a difference of degree
as though it were a difference of kind.
Nevertheless, there remains a legal
difference between grants and loans,
since loans establish an initial obligation on the foreign borrower to repay
the loan at a future date and usually
to pay interest. The Committee felt
that this balance is not analytically
useful enough to be included in the
body of the table, but that its linkage
to the U.S. international investment
position argues strongly for showing it
as a memorandum item.
The Committee recommends that, in
the recast version of table 1, the distinction between unilateral transfers and
Government capital other than official
reserve assets be retained but that it
be given only a second order of embasis by showing Government uniiteral transfers and Government loans
in separate subcategories.
Balance on goods and services.—All
unilateral transfers as well as all capital
transactions, official and private, appear
below the line of the balance on goods
and services, another partial balance.
This balance is closely related conceptually to an important component in
the national income and product accounts—net exports of goods and services. It also represents the net transfer
of real resources to or from foreigners.
These are important arguments in
favor of the retention of this balance
as a memorandum item.
The Department of Commerce, in its
recent revision of the national income
and product accounts, has removed the
U.S. Government's interest income
payments to foreigners from the net
exports component of GNP. (This component is now treated as a transfer
payment in the U.S. national economic
accounts.) As a result, the net exports
component of the GNP accounts is no
longer equal to the balance on goods
and services in the balance of payments
accounts. In recent years, the differences
have come to be substantial. In 1975,
net exports in GNP were $21.3 billion,
$4.8 billion larger than the balance on
goods and services. This difference was
due mainly to the exclusion of $4.5
billion of U.S. Government interest
payments to foreigners. Although this
change in GNP accounting upsets the
preexisting correspondence between net
exports and the balance on goods and
services, the latter is still the basis for
calculating net exports of goods and
services in the GNP accounts, and the
reconciliation of these two figures is
straightforward. The Advisory Committee recommends retention of this
balance as a memorandum item.
C
SUKVEY OF CUKEENT BUSINESS
Balances to be discontinued
Official reserve transactions balance.—
The official reserve transactions (OUT)
balance made its appearance in the
SURVEY OF CURRENT BUSINESS pursuant to the recommendations of the
Review Committee for Balance of
Payments Statistics in 1965. The case
for the concept was set forth at length
in chapter 9 of the Review Committee's Report.8 Briefly, the balance was
intended to reflect the extent of official
intervention required to maintain
pegged exchange rates by setting out
the international deficits or surpluses
arising from all other transactions which
were financed by changes in official
reserves. Furthermore, unless offset by
monetary policies or by special institutional arrangements, changes in official reserves comprise the chief international influence on the domestic
reserves of commercial banks, and
therefore on national monetary aggregates or bank lending, and on domestic
economic activity.
The Review Committee was aware
of several conceptual and statistical
limitations in its own proposal. It
pointed out, for example, that stable
exchange rates are sometimes maintained by official intervention in forward markets, and that such intervention has no direct impact on official
reserves. It noted, moreover, that
changes in official reserves can be deferred or concealed by special intergovernmental transactions such as
prepayments of long-term debt, and
that changes in U.S. liabilities to foreign
official institutions do not reflect those
changes in U.S. liabilities to foreign
commercial banks (including the foreign
branches of U.S. banks) which are
connected with changes in foreign official holdings. These transactions cannot be separately identified in U.S.
statistics and are reflected in the statistics on liabilities to private foreigners.
In addition, the linkages between
the ORT balance and the U.S. money
supply, which are sometimes cited as
the chief reason why this balance is
important, are not close for the United
States. The U.S. monetary base will be
directly reduced by an official reserve
transactions deficit (increased by a
surplus) only under very limited circumstances: when a foreign central
bank acquires dollars through exchange
market intervention and then sells
(buys) those dollars to the U.S. monetary authorities in exchange for reserve
assets, or when it increases (decreases)
its dollar balances with the Federal
Reserve banks. However, such transactions are now infrequent and of
8. See especially Review Committee Report, pp. 110-111.
June 1976
relatively small magnitude. More commonly, an ORT deficit or surplus will
be associated with an increase or
decrease in foreign official agencies'
holdings of U.S. Treasury obligations
and interest-bearing liabilities of U.S.
commercial banks. Under these circumstances, an ORT surplus or deficit
will not directly alter the U.S. monetary
base.
Even in those limited circumstances
when an official reserve transactions
deficit or surplus directly affects the
U.S. monetary base, the Federal Reserve System will—to the extent necessary to achieve the overall objectives
of monetary policy—offset this effect
by corresponding open market transactions in domestic securities. Hence,
an ORT surplus or deficit tends to be
"sterilized"—either automatically, by
the decisions of foreign central banks
to invest their international reserves
in dollar assets such as Treasury bills,
or by Federal Reserve open market
operations.
Apart from the possible effect of
international reserve transactions on
monetary aggregates via the monetary
base, U.S. monetary aggregates are not
directly affected to a significant extent by transactions in international
reserves.
In short, the use of dollar assets as
the medium in which foreign monetary
authorities hold international reserves
prevents any close linkage between
changes in the U.S. official reserve
transactions balance on the one hand,
and the U.S. monetary aggregates on
the other hand, even apart from deliberate offsetting action on the part of
the Federal Reserve System.
Recent events have caused some
people to question the analytical usefulness of the ORT balance for other
reasons as well. With the advent of
floating exchange rates in March 1973,
changes in official reserves are no longer
a good indication of exchange market
pressures on the dollar. These pressures
are now absorbed in larger measure by
movements in exchange rates, and less
in official purchases or sales of dollars
by foreign central banks. In effect,
changes of dollar holdings by foreign
official institutions are now more generally voluntary acts, not ways of
meeting obligations under the Bretton
Woods Agreement.
When exchange rates were fixed, it
was also widely assumed that foreign
official dollar accumulations represented
an excess supply of dollars in their
hands which would be sold sooner or
later, depressing the value of the dollar
in exchange for other currencies. While
this interpretation was not invariably
correct before 1973, the significantly
June 1976
SUEVEY OF CUEEENT BUSINESS
greater degree of discretion which exists instead of allowing exchange rates to
today makes the validity of such an absorb those pressures. Floating exinterpretation even more doubtful. change rates are "managed" extenSome members of the Advisory Com- sively, and other countries intervene
mittee took the view that the pres- sporadically by buying and selling
entation of the balance of payments dollars. This official intervention is
statistics should be brought into con- measured in the OET framework.
formity with this reality by discontinuChanges in official reserves, moreover,
ing the publication of the OET balance. continue to have some importance for
They pointed out, in addition, that this domestic monetary management. If
balance is now deprived of its sub- imbalances in the aggregate of other
sidiary purpose, namely to indicate the transactions are reflected in changes in
"threat" to U.S. holdings of gold re- U.S. official holdings of gold and foreign
serves, since the U.S. dollar is no longer currencies or foreign official deposits at
convertible into gold.
Federal Eeserve banks, as mentioned
To complicate matters, there are above, the balance on official reserve
other reasons why changes in foreign transactions may affect the U.S. moneofficial holdings of dollars are less tary base and thus the U.S. banking
closely related to the measurement of system's ability to expand or need to
official intervention than ever before. contract the domestic money supply.
Starting in 1974, for example, a number
Some members of the Committee
of foreign governments borrowed huge believed that it is important to supply a
sums in the Eurocurrency and U.S. stable point of reference for description
capital markets, directly and indirectly, and analysis of the balance of payments.
by way of public and quasi-public Without such a point of reference (i.e.,
institutions. These funds were added an overall balance), it is more difficult
to reserves or used for other purposes, to focus reporting and discussion, in and
such as payments for oil imports, that out of Government, on international
might otherwise have called for large transactions as a whole. There is the
reductions in reserves. Conversely, the danger, moreover, that the absence of
OET balance can change from quarter any agreed-upon overall balance invites
to quarter even when there is no the misuse of subsidiary balances, such
pressure on the exchange value of the as the balance on current account or,
dollar. Some of the oil exporting coun- worse, the merchandise trade balance.
tries have accumulated huge official
The Advisory Committee's decision
dollar balances as income-yielding in- about this complex issue was further
vestments, not as the result of exchange complicated by its unanimity on other
market intervention. Present statistical matters. The recommendation to dispractices do not permit segregation of continue publication of the other overall
these acquisitions from those that result balances (the balance on current acfrom official actions undertaken to count and long-term capital and the
affect exchange rates. All such foreign net liquidity balance) had the unforofficial acquisitions of dollars con- tunate consequence of lending additional
tribute to the U.S. balance of payments emphasis, by default alone, to the OET
deficit on the OET basis, but it is not balance. Thus, even those who advoclear what a deficit on that definition cated continued use of the OET
signifies.
balance had qualms about publishing
All members of the Advisory Com- a summary table in which it would be
mittee agreed on the importance of the only comprehensive measure of
these developments and arguments. the balance of payments. On the other
All members agreed, in addition, that hand, those members who believed
the official reserve transactions balance that the OET balance should not be
has less importance under present cir- presented had qualms about a table in
cumstances than it did, with all its which there would be no overall balance,
flaws, before August 1971, when the but in which partial balances (on goods
dollar became inconvertible, or before and services and on current account)
March 1973, when generalized floating would continue to appear.
began.
The arrangement proposed in this
Some members, however, believed Eeport reflects these collective concerns
that the official reserve transactions and misgivings. In the end, the argubalance continues to be useful. Several ments against the continued publication
reasons were offered in support of this of the official reserve transactions balposition. First, there is still a large ance and the other overall balances
amount of official intervention in foreign prevailed. The objection to a table
exchange markets. Over 50 countries which included partial balances only
continue to peg their currencies to the was resolved by the Committee's recU.S. dollar, and they buy or sell dollars ommendation in favor of the publication
to relieve exchange market pressures on as memorandum items of the two
their currencies vis-a-vis the dollar partial balances discussed above and
25
of changes in U.S. official reserve assets
and in liabilities to foreign official
agencies without striking a balance of
these two lines. Publication of the
special table on foreign exchange operations by official agencies, which the
Committee recommends, would provide
valuable information. Finally, an additional table on changes in exchange
rates would indicate the impact on
those rates of all transactions. Agreement on this arrangement was strengthened by consensus on an additional
point: although the Advisory Committee discussed the matter at length,
no strong sentiment developed in favor
of any new concept of a comprehensive
or overall balance.
Net liquidity balance.—The net
liquidity balance seeks to look beyond
the formal distinction between longterm and short-term capital to segregate
certain types of assets—called "liquid"—that are subject to reversal
in the short run. However, the distinction between liquid and nonliquid
instruments that must be made in
practice is both fuzzy and misleading.
According to present definitions, for
example, an overnight loan by a U.S.
bank to a foreign bank would be
counted as a nonliquid claim; all loans
made by a U.S. bank to a foreign bank
are counted as nonliquid in our statistics, largely because separate data
for such loans are not available (see
line 42 of the present table 2). If the
same U.S. bank loaned the money to a
U.S. branch of a foreign bank, and that
branch deposited the proceeds with its
head office abroad, the transaction
would give rise to a liquid claim because
claims on foreign affiliates are commingled with holdings of private shortterm marketable securities in the statistics. In the latter case, the initial
loan would not appear in the balance
of payments statistics, because the
U.S. branch bank is treated as a
resident of the United States, but the
deposit claim on the head office abroad
would appear in the balance of payments as an increase of liquid claims
on foreigners (see line 43 of the present
table 2).
Although both of these methods of a
domestic bank lending to a foreign
commercial bank would establish a foreign liability to a U.S. bank for overnight money, the "nonliquid" claim
would be recorded above the line of the
net liquidity balance and the "liquid"
claim would be recorded below the
line. Clearly, such differences in the
means used by a foreign bank to borrow
funds overnight do not make a material
difference in the international financial
position of the United States or in the
effect of the transaction on exchange
26
rates. More generally, the practical
application of the liquidity concept is
too subjective and relative to be used
as a suitable basis for classifying and
summarizing the international transactions of the United States.
There is a further analytical difficulty in the use of this balance for specific purposes. The net liquidity balance
(or the gross liquidity balance) was
long viewed as a measure of potential
pressure on U.S. primary reserve assets
(e.g., gold and SDRs); since the dollar
is no longer convertible into such
assets, this rationale for the measure
has disappeared.
The Advisory Committee recommends strongly and unanimously that
the publication of the net liquidity
balance be discontinued and that the
terminology associated with it be deleted entirely from the balance of payments accounts.
Balance on current account and longterm capital.—The balance on current
account and long-term capital (the
so-called "basic" balance) was intended
to serve as an indicator of long-term
trends in the balance of payments by
segregating volatile capital flows and
placing them below the line. It does not
do so adequately. On the one hand, the
capital flows which are excluded from
the balance may exhibit long-term
trends. On the other hand, some of the
capital transactions in long-term securities, and even some components of
direct investment, can be quite volatile.
The usefulness of this balance depends to a large extent upon the degree
to which the statistician's distinction
between short-term and long-term capital flows coincides with the investor's
distinction between short-term and
long-term horizons. There are problems
in this connection which cannot be
resolved easily. First, the statistical
distinction between short-term and
long-term capital flows is based entirely
on the original maturity of the assets
bought or sold, but assets with original
maturities exceeding a year (the statistician's cutoff point) may be closer to
maturity when currently bought or sold
than assets with shorter original maturities. This fact introduces a discrepancy
between the statistic and the concept
it is intended to represent, and may
make this balance unsatisfactory for
its original purpose.
Second, and more important, there is
a conceptual difficulty. Investors who
intend to transfer funds while preserving the option to reverse the transfer
after a short interval may nevertheless
lodge those funds in long-term assets.
One can buy a long-term bond with the
intention of selling it in a week or a
month; at times, this may be the only
SURVEY OF CURRENT BUSINESS
way to make the transfer. Conversely,
an investor may purchase short-term
instruments or make short-term loans
with the intention of rolling them over
month after month or year after year.
For example, transactions between the
United States and some important
countries where the markets for longterm investment securities are limited
will be predominantly short-term under
current definitions, reflecting the nominal maturities of the instruments used.
However, many such "short-term"
transactions are continuously renewed,
and a substantial proportion of such
funds may constitute investment flows
that will not soon be reversed. In sum,
there is a substitutability between
long-term and short-term capital assets
which is dictated by economic and
institutional circumstances. That distinction cannot be captured by statistical methods.
Moreover, changes in direct invesment claims which are above the line
of the "basic" balance include a large
amount of volatile short-term flows
between parent companies and their
subsidiaries, a point which is made
explicitly in the detailed table on
capital movements in the SURVEY OF
CURRENT BUSTNESS but not taken
account of in the calculation of the
present balance on current account
and long-term capital in the present
table 1. Indeed, this is one of the
important ways that the well-known
"lead and lag" effects on payments for
imports and exports affect the balance
of payments in any given period. These
clearly are not long-term effects, but
are cyclical, and often volatile in
their direction and magnitude. Finally,
it was noted by some members that
there is no conceptual basis for combining current account transactions
with long-term capital transactions in
the same balance than there would be
for combining all short-term and longterm transactions within the capital
account itself.
For these reasons, the Advisory
Committee recommends that publication of this balance be discontinued.
Balance on goods, services, and remittances.—The main argument in support of the balance on goods, services,
and remittances (GSR) is derived from
the significant deficiency, already noted,
in the balance on current account.
The distinction made in the current
account balance between Government
grants and Government loans is weak in
some cases, and grants bulk large in
U.S. international transactions. While
the current account balance distinguishes between these transactions
which can be quite similar in fact, the
GSR balance places all of these trans-
June 1976
actions together below the line. Several
of the Committee members felt, however, that the difference between the
balance on goods and services and the
GSR balance—consisting of pensions,
remittances, and some other transfers—
is usually fairly small and relatively
stable for the United States. Private
remittances have fluctuated in some
periods, for example to provide assistance during a period of natural disaster or military activities, but these
events are typically well known and
can be analyzed as special cases. While
the GSR balance is important for
countries with relatively large numbers
of immigrant workers, such is not the
case with the United States. For these
reasons, it was felt by some members
that the GSR balance represents, for
the United States, only a refinement of
the balance on goods and services, and
the Committee recommends retaining
the latter balance as a memorandum
item.
Another argument in support of the
GSR balance is that it highlights the
amount of government transfers and
loans which, together with private
capital flows, would be needed, given
existing exchange rate relationships to
maintain equilibrium in the other items
which are above the line of that balance.
In addition, some analysts feel that this
balance places above the line those
transactions which are most closely
affected by changes in income and relative prices. Finally, as mentioned above,
this balance is often useful in comparing
the financing problems of industrialized
and developing countries, in that it
separates government grants (along
with loans) as a source of funding.
The majority of the Committee felt
that the rationale for the GSR balance
was not sufficient to justify its retention as a third partial balance. In the
Committee's view, the distinction contained in the goods and services balance
between transactions in goods and services on the one hand, and all capital
transactions plus unilateral transfers
on the other, is of greater analytical
significance than the distinction made
by the GSR balance. More important,
the GSR balance does not provide a
direct linkage to other economic accounts, as do the balances on current
account and on goods and services
which the Advisory Committee desires
to retain.
Since this balance is not related to
other economic accounts, and since, for
the United States, there is a close relationship between the GSR balance and
the goods and services balance, the
Committee recommends that the GSR
balance be eliminated in the new presentation.
June 1976
Merchandise trade balance.—The Committee recommends that the merchandise trade balance should be excluded
from the new tabular presentation for
several reasons. Several members objected to emphasizing the distinction
made by that balance between goods
and services which, from the point of
U.S. production and employment conditions, has no greater economic significance than the distinction among
different industries or sectors with
different employment requirements. A
more significant distinction would be
between payments for currently produced goods and services, on the one
hand, and investment income, which
is payment for the services of past
output in the form of investment in
foreign countries, on the other hand. A
majority of the Advisory Committee
felt that the balance on goods and
services was more useful than the
merchandise trade balance in analyzing
the impact of these transactions on the
economy. In addition, the trade balance
does not constitute a link with other
economic accounts as do the two
balances the Committee recommends
retaining.
The data on merchandise exports
and imports will still be published,
however, as will the reconciliation with
the monthly Census data on merchandise trade. Given the availability of
this information and the basic conceptual objections to computing the
merchandise trade balance, the Committee recommends against the continued publication of this balance in
the new tabular presentatio~
SUKVEY OF CUEKENT BUSINESS
misinterpreted by the public. The merchandise trade balance is commonly
used. It is published quarterly on the
balance of payments basis by the
Bureau of Economic Analysis soon after
the monthly trade statistics are available from the Census Bureau. Therefore, OMB viewed that continued
publication of this balance as a memorandum item in the tables which present
the complete statistics is desirable.
In the case of the balance on goods,
services, and remittances (GSR) OMB
concurred in the Interagency Committee's view that the balance is analytically useful in international comparisons, particularly for comparison of the
financial position of industrialized countries with that of developing countries.
For the developing countries, the receipts of government grants are viewed
as part of the financing element in their
international transactions, and the GSR
balance places these transactions below
the line along with official and all private capital, which is not the case with
the current account balance. Compari-
27
sons of these countries tend to use the
GSR balance analytically in preference
to the balance on goods and services.
The use of the GSR balance is becoming
widespread and probably it will be more
commonly used for international comparisons in the future. Thus, to facilitate international comparisons, publication of the GSR balance for the United
States is useful, and OMB concluded
that it would be inadvisable for the
GSR balance to be omitted from the
U.S. official statistics at this time.
The format of the new table 1 which
the Office of Management and Budget
has approved is based on the Advisory
Committee's recommendations and
those of the Interagency Committee on
Balance of Payments Statistics. The
new table is published on page 32. The
memoranda include, in addition to the
items recommended by the Advisory
Committee, the balance on merchandise
trade (line 68) and the balance on goods,
services, and remittances (line 70)
recommended by the Interagency
Committee.
Interagency Committee on Balance of Payments Statistics
Office of Management and Budget
Federal Reserve Board
Joseph W. Duncan
Deputy Associate Director for Statiscal Policy
John E. Reynolds
Associate Director
Division of International Finance
Interagency Committee and
OMB Actions on the Report
David T. Hulett
Chief, Economic Statistics Branch
Statistical Policy Division
Samuel Pizer
Advisor
Division of International Finance
The recommendations of the Advisory Committee were evaluated by the
Interagency Committee on Balance of
Payments Statistics (see box). The
Interagency Committee agreed with all
of the recommendations except the
deletion of the merchandise trade balance and the balance on goods, services,
and remittances. The Office of Management and Budget accepted the Interagency Committee's recommendation
that these two partial balances should
be published as memorandum items, in
addition to those items recommended
by the Advisory Committee, for several
reasons.
While recognizing the limitations of
the merchandise trade balance (as discussed in the Advisory Committee's
Report), OMB concluded that the
concepts underlying this balance are
clear and not liable to be seriously
William E. Breidenbach
Senior Budget Examiner
International Programs Division
Department of the Treasury
Council of Economic Advisers
Helen Junz
Senior Staff Economist
Walther Lederer
Senior Advisor on Balance of Payments
(Retired April 1976)
Donald W. Curtis
Acting Chief, Balance of Payments
Office of Assistant Secretary for International Affairs (Research)
Department of Commerce
Jack J. Bame
Associate Director for International
Economics
Bureau of Economic Analysis
Evelyn Parrish
Chief, Balance of Payments Division
Bureau of Economic Analysis
Office of the Special Representative for
Trade Negotiations
Geza Feketekuty
Director of Policy Development
By LOUIS J. MOCZAR
US. International Transactions:
First Quarter 1976
I .S. international transactions in the
first quarter were highlighted by an
abrupt swing in merchandise trade to
an excess of imports over exports. This
shift largely reflected cyclical developments, as the rapid expansion of the
U.S. economy led to a sharply accelerated rise in imports. Exports
declined, following an increase in the
preceding quarter. Since service transactions and unilateral transfers showed
relatively minor changes, merchandise
trade developments were the major
element in reducing the U.S. current
account to near balance in the first
quarter from net receipts of $3.1 billion
in the fourth.
NOTE.—The revision of the presentation of
balance of payments statistics was the work
of the staff of the Balance of Payments
Division under the direction of the Division
Chief, Evelyn M. Parrish.
Among the capital account items,
U.S. assets abroad increased $9.5 billion
(capital outflow), following an $11.0
billion rise in the fourth quarter.
The slowdown was accounted for by
lower outflows, both short and longterm, reported by U.S. banks. Outflows associated with direct investment
abroad and U.S. purchases of foreign
securities continued near fourth-quarter
levels. U.S. official reserve assets increased $0.8 billion, in contrast to a
slight decline in the previous quarter.
Foreign assets in the United States
rose $5.0 billion (capital inflow), down
from the $5.7 billion rise in the fourth
quarter. There was a larger increase in
official holdings and a much smaller
increase in other foreign assets in the
United States. The unusually large net
inflow in unrecorded transactions (statistical discrepancy) may have been
related to exchange market disturbances, which precipitated large capital
movements. (Data for most capital
account transactions have not been
adjusted for seasonal variation. See
Technical Notes, page 31).
The U.S. dollar in exchange markets
Large first-quarter swings in the
value of the U.S. dollar against several
major currencies were related to special
developments abroad. Political uncertainties, continued severe inflationary
pressures, and concern about economic
prospects in some countries created
exchange market pressures on several
currencies. The dollar appreciated substantially against the Italian lira
throughout the quarter, and in March
against the pound sterling and the
French franc (chart 8 and table C). On
the other hand, it weakened against
Table A.—Summary of U.S. International Transactions
[Millions of dollars, seasonally adjusted]
Lines in tables 1, 2, and 10 in which transactions are included
are indicated in ( )
Exports of goods and services (1)
Merchandise, excluding military (2)
Other goods and services (3-13)
..
Imports of goods and services (15)
Merchandise, excluding military (16)
Other goods and services (17-27)
1974
1975
1974
1975
I
III
II
37, 234
25, 036
12, 198
38, 491
26, 602
11,889
36, 945
27, 020
9,925
35, 767
25, 848
9,919
37, 098
26, 610
10,488
38,600
27, 655
10, 945
38, 596
26, 939
11,657
—4
-716
712
—141,187 —132, 141
-103, 679 —98, 150
—37 507 —33 991
-30, 563
-22, 605
—7 958
-35, 613
—25, 700
—9 913
—37, 449
-27, 374
—10 075
-37, 562
-28, 000
-9 562
-34, 350
-25, 585
-8, 765
-30, 716
-22, 598
—8, 118
-32, 813
-24,511
-8, 302
-34, 264
-25, 456
-8, 808
-37, 538
-28, 447
-9, 091
3,274
-2, 991
—283
-1, 399
-451
-811
-450
-33,392
-1,434
-31, 131
-607
-7,915
-210
-10,013
-358
-5, 210
-1, 003
1365
-32, 323
-3,463
-27, 061
1,389
-9,094
267
-9, 922
32, 433
10, 981
21, 452
14, 879
6,336
8 544
5,906
-1,072
6,977
11,049
4,648
6 401
4,557
4,602
2,167
761
p Preliminary
1. Includes extraordinary U.S. Government transactions with India; see "Special U.S.
Government Transactions" in June 1974 SURVEY, p. 27.
28
IV
35 667
24, 212
11, 455
-2,606
-371
Statistical discrepancy (67)
III
II
33 382
22,460
10, 922
-2, 893
-1,727
Foreign assets in the United States, net (increase/capital
inflow (+)) (50)
Foreign official assets, net (51)
Other foreign assets net (58)
I
Change:
1975 IV1976 I
148 410
107, 133
41, 277
144 773
98, 310
46,463
U.S. Government grants (excluding military grants of goods
and services) (30).. _
_
i -5, 475
Remittances, pensions, and other transfers (31, 32)
-1,710
U.S. assets abroad, net (increase/capital outflow (-)) (33)
U.S. official reserve assets, net (34)
U.S. Government assets, other than official reserve assets, net (39)
U.S . private assets, net (43)
IV
1976
IP
-748
-431
-712
-434
-615
-429
-10,252
137
-8, 001
-325
-7, 943
-29
-4, 223
-342
-10, 964
89
-9, 512
-773
1,452
-862
-354
-3,854
-937
-9, 453
-899
-6, 777
—840
-7, 074
-772
-3, 109
-952
-10, 101
-674
-8,065
278
2,036
7,612
3,149
4 462
7,867
4,256
3,611
2,837
3,402
-565
3,907
2,331
1,576
2,400
-1,985
4,384
5,736
2,587
3, 148
5,018
3,325
1,693
-718
738
-1,455
-925
2,554
3,748
131
—1,417
2,143
4,574
2,431
-660
-438
NOTE.—Details may not add to totals because of rounding.
-818
-433
-658
-480
160
-47
June 1976
the Swiss franc, German mark, Japanese yen, and Canadian dollar. The
flight of capital from weak currencies
bolstered the already strong German
mark and Swiss franc, while improved
current-account performance in Japan
helped strengthen the yen. The Canadian dollar benefited from heavy external borrowing, particularly in the
United States.
Measures of the foreign exchange
value of the dollar indicate different
results depending on the foreign currencies they cover and/or the weighting
scheme on which they are based
Against the trade-weighted average of
22 OECD currencies, for example, the
dollar recorded practically no change
in the first quarter. It did, however,
show a 3 percent appreciation against
a smaller currency group consisting of
10 major industrial countries, mainly
because of the larger weight of the lira,
pound sterling, and French franc in
this group.
SURVEY OF CURRENT BUSINESS
industrial materials. Automobile imports from both Canada and overseas
suppliers rose; the increase from Canadian plants of U.S. manufacturers was
in response to strong consumer demand
in this country. However, the increase
in car imports from overseas added to
dealer inventories, as sales were sluggish. Imports of petroleum and products
rose to an average of 6.8 million barrels
29
per day, reflecting increased consumption and a continued decline in U.S.
production.
Following increases in the previous
two quarters, exports declined 3 percent
to $26.9 billion. Volume fell 4 percent,
mainly due to declines in agricultural
shipments and aircraft sales, both subject to erratic fluctuations. Another
factor tending to restrain exports was
•CHART 8
Indexes of Foreign Currency Price of U.S. Dollar (May 1970=100)
100
Trade-weighted average of 22 currencies-^/
80
60 I i i i i i I i > i
t
i I i i i i i I 1.1 i i i 1 i i i i i I i
Trade-weighted average of 10 currencies-?/
100
80
Major Transactions
60 > i i i i i I i i i r i I i i i i i I i i i i i I i i i i i t i i i i i
1974
Merchandise trade
1975
1976
Selected currencies: 3/
U.S. merchandise imports exceeded
exports by $1.5 billion in the first
quarter, a major shift from the $2.2
billion export surplus in the fourth
quarter of 1975. (These data are on a
balance of payments basis, which excludes the military trade of U.S.
defense agencies and reflects adjustments to the Bureau of the Census
trade figures for timing, coverage, and
valuation.) Changes in volume accounted for virtually the entire swing, as
both export and import prices showed
only minor changes.
Imports increased 12 percent to
$28.4 billion, reflecting the strengthening of U.S. economic activity. In
volume terms, the advance was 10
percent, more than double the rate of
increase in the preceding quarter. Nonpetroleum imports accounted for most
of the expansion; consumer goods,
automobiles, and industrial materials—
mostly steel, building supplies, and
paper stocks—all rose strongly. The
shift from liquidation of U.S. inventories to a sizable accumulation in the
first quarter was an important factor,
especially in stimulating imports of
209-299 O - 76 - 4
120
CANADA
100
JAPAN
80
100
i i i I i i i i i I i i i i i i i i i i , 1 i i i i t I 60
80 i i i i i i I i < t i t I i i i i iI i i t < i I i i i i i I
100
100
NETHERLANDS
FRANCE
80
80
60
60
100
GERMANY
80
^SWITZERLAND
80
60
60
40
140
ITALY
140
UNITED KINGDOM
120
120
100
100
80
iI
1974
1975
1976
1974
1975
1976
1. Australia, Austria, Belgium-Luxembourg, Canada, Denmark, Finland, France, Germany, Greece, Iceland, Ireland, Italy, Japan, the Netherlands,
New Zealand, Norway, Portugal, Spain, Sweden, Switzerland, Turkey, United Kingdom. Source: U.S. Department of the Treasury.
2. Belgium, Canada, France, Germany, Italy, Japan, the Netherlands, Sweden, Switzerland, United Kingdom. Source: Federal Reserve Board.
3. Source: International Monetary Fund.
Note.-Data are for end of month.
U.S. Department of Commerce, Bureau of Economic Analysis.
76-6-8
30
SUEVEY OF CUERENT BUSINESS
the continued lag in economic recovery
abroad relative to the U.S. upturn. The
value of exports of industrial materials
and machinery remained at their high
fourth quarter levels, although there
were small volume declines.
The swing in the U.S. merchandise
trade balance was reflected in reduced
exports to, or larger imports from, most
major geographic areas. With Western
Europe, the U.S. export surplus was reduced to $1.4 billion, from $2.3 billion in
the fourth quarter, as exports dropped
sharply and imports continued to
rise. A 30 percent expansion in imports
from Japan was the major factor in
increasing the trade deficit with that
country $1.0 billion to $1.4 billion. The
jump in petroleum imports and a drop
in exports raised the trade gap with
members of OPEC to $3.7 billion from
$2.3 billion in the fourth quarter. Trade
with the nonpetroleum developing countries showed a $1.0 billion excess of
exports over imports, little changed
from the preceding quarter.
Service transactions
Most of the changes in service transactions occurred in investment income.
Income on U.S. direct investment
abroad rose $0.5 billion to $3.0 billion
because of unusually large dividend
receipts from a U.S. petroleum affiliate
that had omitted dividends in the
preceding three quarters. Apart from
this special development, income receipts from U.S. affiliates showed little
change. Income on U.S. banking and
other private assets abroad increased
slightly to $2.1 billion, mainly reflecting
increased U.S holdings of foreign bonds.
On the debit side, there was a $0.2 billion
rise in income payments on foreign
direct investment in the United States,
mostly related to participation payments by a U.S.-incorporated petroleum
company to a Middle East country.
Other income payments to foreigners
showed a small increase.
17. S. assets abroad
Net U.S. official reserve assets increased $0.8 billion, in contrast to a
$0.1 billion decline in the fourth quarter
of 1975. A large part of the increase
reflected lira acquisitions under swap
arrangements with Italy. There was
also a $0.2 billion increase in the U.S.
reserve position in the International
Monetary Fund, as other countries
drew dollars from the Fund.
Transactions involving U.S. private
assets abroad showed continued large
net outflows. Net claims on foreigners
reported by U.S. banks increased $3.7
billion, compared with a $5.3 billion
rise in the fourth quarter. The slowdown occurred despite the near tripling
of outflow through branches of U.S.
banks in the Caribbean area, some of
which were probably placed in the
Eurodollar market. In contrast, there
was a shift from net outflows to net
inflows from Japan, France, and the
United Kingdom. In the case of
Japan, the shift may have been related
to the recent improvement in that
June 1976
country's current-account position. In
addition, long-term lending to Latin
America was reduced for the first
time in more than a year.
Net U.S. purchases of foreign securities increased $0.2 billion to $2.5 billion,
as foreign borrowers placed a record
$2.8 billion of new bond issues here in
response to continued favorable U.S.
credit market conditions. A particularly large increase was registered for
Canada; two privately placed provincial issues accounted for much of
the total. Issues by Western European
entities also rose, and there was a
sizable issue by the Inter-American
Development Bank. In contrast, the
World Bank floated only a small new
issue in the first quarter, following
large placements in the fourth. Partly
offsetting these outflows was a $0.3
billion net inflow from transactions
involving other foreign securities, more
than half of which represented redemptions of outstanding bonds by
the World Bank.
Net capital outflows for U.S. direct
investment abroad declined slightly to
$1.6 billion, as lower outflows to
affiliates of U.S. petroleum companies
were nearly offset by increased outflows
to affiliates in other industries. The
reduced outflow to petroleum affiliates
was in part associated with the lag in
payments by parent companies for a
sharply increased volume of petroleum
in the first quarter and the resulting
buildup of parent company liabilities
to their affiliates. Increased outflows to
Table B.—Selected Transactions With Official Agencies
[Millions of dollars]
Line
1974
I
III
II
1976
1975
1974
1975
IV
I
II
2,331
-173
1,706
III
IP
IV
1 Changes in foreign official assets in the U.S., net
2
3
4
5
6
7
(decrease — ) (line 51, table 1)..
Industrial countries2l
Members of OPEC _
Other countries
Changes in U.S. official reserve assets (increase — )
(line 34, table 1)
Activity under U.S. official reciprocal currency
arrangements with foreign monetary authorities:
Federal Reserve System drawings, or repayments (— ), net
Foreign drawings, or repayments. (— ), net
^Preliminary.
6,336
—1 040
6,881
-1,072
—2 480
-1, 434
-607
-210
34
2
10, 981
—713
10, 841
853
495
953
455
57
1. EC (9), other Western Europe, Canada, Japan, Australia, New Zealand, and South
Africa.
2. Partly estimated. Based on data for Indonesia, Venezuela, and Middle East and African
petroleum-exporting countries.
440
2,148
1,582
-2, 992
-342
89
-773
-862
-463
s -232
-180
2
500
-230
3,149
— 1 303
4,358
94
4,256
1,629
2,966
-339
3,402
2,159
1,007
236
798
-1,985
-3, 376
2,371
-980
—358
-1,003
137
-325
-29
7
—259
229
837
-604
180
-180
738
3,325
2,498
3,379
-2,552
4,648
1 441
2,565
642
Change:
1975 IV19761
180
2,587
350
1,797
680
3. Includes $250 million, the amount by which the dollar countervalue of the Federal
Reserve pre-August 1971 Belgian and Swiss franc commitments was increased to take account
of the two U.S. dollar devaluations of 1971 and 1973 and the Belgian franc revaluation of
1971. This valuation adjustment is excluded from the balance of payments transactions
shown in line 1.
SUEVEY OF CUKKENT BUSINESS
June 1976
U.S. banks reported a $1.3 billion increase (lines 60, 64, and 65, table 1),
in liabilities to private foreigners and
international organizations, compared
with a $0.9 billion increase in the preceding quarter. Close to $0.5 billion
Foreign assets in the United States
of the increase represented foreign
Net foreign official assets in the acquisitions of U.S. Treasury securities.
United States increased $3.3 billion, The largest inflow was from Canada;
compared with a $2.6 billion rise in the most of the inflow consisted of the
fourth quarter of 1975. Large prepay- proceeds of bond issues temporarily
ments by foreign countries, mainly deposited in U.S. banks. There was
Iran and Saudi Arabia, on orders for also a sizable inflow from Japan. On
military equipment for future delivery the other hand, there was a shift to net
more than accounted for the higher outflows to the United Kingdom and
the World Bank from net inflows in the
inflow.
fourth quarter, mostly because of
Foreign official holdings of U.S.
reductions in their holdings of U.S.
money market instruments and U.S.
Treasury bonds and notes increased money market instruments.
Net foreign purchases of U.S. securi$1.1 billion, mostly reflecting payments
ties, other than Treasury securities,
of previously accumulated dividends
declined $0.2 billion to $1.0 billion in
owed to the government of a Middle
the first quarter. The drop was atEast country on its participation in a
tributable to reduced foreign purU.S.-incorporated petroleum company.
chases of U.S. bonds, particularly by
Although some countries with apprethe United Kingdom. Foreign purciating
currencies—mainly Japan,
chases of U.S. stocks remained at $0.9
Switzerland, and Canada—added subbillion as the U.S. stock market adstantially to their dollar reserves, drawvanced strongly. Transactions asdowns by others were nearly offsetting.
sociated with foreign direct investment
Prominent in the latter group was
in the United States shifted to a $0.7
France, which sold dollars to limit the billion net outflow, following a $1.2
depreciation of the franc. Purchases by billion inflow in the fourth quarter of
foreign official agencies of U.S. corpo- 1975; the outflow reflected the aboverate securities, mostly stock acquisitions mentioned dividend payments to a
by OPEC members, remained at $0.6 Middle East country. The previous
billion.
accumulation of these dividends had
Among transactions involving other been treated as a buildup" of foreign
foreign assets in the United States, direct investment in this country.
nonpetroleum affiliates probably reflected their increased need for funds to
finance inventories and extend trade
credits, as economic recovery abroad
began to move into higher gear.
31
U.S. Exports and Imports of Goods
and Services
Billion $
40
Goods and Services
30
20
10
Exports —
Imports
I
I
i
I
i
i
i
73
74
75
Seasonally Adjusted
1972
I
76
U.S. Department of Commerce, Bureau of Economic Analysis
76-6-9
Technical Notes
Change in format
The presentation of U.S. balance of
payments statistics has been revised
beginning with this issue of the SURVEY
to conform closely to recommendations
of the Advisory Committee on the
(Continued on page 60)
Table C.—Indexes of Foreign Currency Price of the U.S. Dollar
[May 1970=100]
End of period
I
Trade-weighted average against 22 currencies 2*
Trade-weighted average against 10 currencies
_._
II
1976
19 75
19 74
III
IV
I
II
III
IV
I
82 8
82 6
83 5
83 2
86 3
85 0
84 0
81 2
82 7
79 2
84 7
80 4
89.7
87.1
89.1
86.6
88.8
89.1
90 5
86 3
69 5
98.9
76 9
73 9
69 4
100 3
90 5
87 4
70 3
103 0
79 2
73 0
69 4
100 5
91 8
85 9
73 0
105 0
83 2
74 4
68 2
103 0
92 3
80 5
66 3
103 3
83 9
69 0
59 0
102 3
93 4
76 4
64 6
100 5
81.9
65 9
58 5
99 7
96 0
73 2
64 8
100 2
82 6
67 2
57 9
109 3
95.5
82.2
73.3
109.3
84.3
75.3
63.6
117.7
94.6
81.3
72.2
108.7
85.0
74.0
60.6
118.7
91.6
84.6
69.9
133.6
83.5
74.0
58.7
125.4
3
Selected currencies:
Canada
_
France
_
Germany
Italy..
-.
Japan
_
Netherlands
Switzer and
United Kingdom.
_
_
_
_
_
_
_
_
1. Australia, Austria, Belgium-Luxembourg, Canada, Denmark, Finland, France, Germany, Greece, Iceland, Ireland, Italy, Japan, the Netherlands, New Zealand, Norway,
Portugal, Spain, Sweden, Switzerland, Turkey, United Kingdom. Source: U.S. Department
of the Treasury.
2. Belgium, Canada, France, Germany, Italy, Japan, the Netherlands, Sweden, Switzerland, United Kingdom. Source: Federal Reserve Board.
3. Source: International Monetary Fund.
SURVEY OF CURRENT BUSINESS
32
June 1976
Table 1.—U.S. International
[Millions
1 Exports of goods and services 2
2
3
4
5
6
7
g
9
10
11
12
13
Ref. lines
(table 2,
March 1976
SURVEY)
(Credits +; debits -)'
Line
. . . .
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
Receipts of income on4 U.S.
assets abroad:
Direct investments - 6
Other private receipts
.
U S Government receipts
1962
I
27 595
28 882
2
3
4.
5
g
7
g
19 650
335
919
175
1 607
590
247
570
153
20 108
402
947
183
1 620
66°
244
607
164
12
13
2 355
646
349
14
1,695
H
-
Transfers of goods and services under U.S. military grant programs, net.
15
Imports of goods and services
25
26
27
1961
Q
10
14
16
17
18
19
20
21
22
23
24
1960
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
Payments of income on foreign assets in the United States:
Direct investments *•*
Other private payments .
U.S. Government payments
__
1963
1964
1965
1966
1967
1968
1969
30 606
32 708
37 393
39 548
42 774
45 561
49 933
54 699
20 781
656
957
191
1 764
800
256
585
195
22 272
657
1 015
205
1 898
890
273
613
236
25 501
747
1 207
241
2 076
1 013
301
651
265
26 461
830
1 380
271
2 175
1 199
335
714
285
29 310
829
1 590
317
2 333
1 162
353
814
326
30 666
1 152
1 646
371
2 426
1 354
393
951
336
33 626
1 392
1 775
411
2 548
1 430
437
1 024
353
36 414
1 528
2 043
450
2 652
1 533
486
1 160
343
2 768
793
383
3 044
904
473
3 129
1 022
499
3 674
1 956
462
3 963
1 421
515
3 467
1 669
604
3 847
1 781
639
4 151
2 021
765
4 819
2,338
933
1,465
1,537
1,562
1,340
1,636
1,892
2,039
2,547
2,610
32 443
38 260 —41 220 —48 355 —53 722
15 —23 555
23 353
25 564
16 —14 758
17 —3 087
18 —1 750
513
19
1 402
20
219
—35
—40
2
—593
23
24
—313
14 537
2 998
1 785
506
1 437
43
46
—588
—406
16 260 —17 048 —18 700 —21 510 —25 493 —26 866 —32 991 —35, 807
3 105 —2 961 —2 880 —2 952 —3 764 —4 378 —4 535 —4, 856
1 939 —2 114 —2 211 —2 438 —2 657 —3, 207 -3, 030 -3, 373
—829
—885 —1 080
—642
—753
—717
612
567
1 558 —1 701 —1 817 —1 951 —2 161 —2 157 —2, 367 —2, 455
-101
—62
-80
—64
—68
—67
—61
57
-106
-120
-76
—60
—67
—104
—44
—51
-751
-668
—527
—461
-506
-565
—493
—528
-760
-717
-644
-550
-691
-535
—447
—398
25
26
27
—220
—511
QQo
194
—535
—278
—185
—586
—339
26 811
—223
—701
—401
28 895
—202
—802
-453
—299
—942
—489
-372
—1,221
—549
-381
-1,382
-598
-388
-1,843
-702
-417
-3, 269
-111
28
U.S. military grants of goods and services, net
28
— 1 695
1 465
— 1 537
—1 562
— 1,340
— 1,636
— 1,892
—2, 039
-2,547
-2,610
29
Unilateral transfers (excluding military grants of goods and services) net.
29
-2,308
-2,524
-2,638
-2,754
-2,781
-2,854
-2,932
-3,125
-2,951
-2,994
30
U.S. Government grants (excluding military grants of goods and
services).
U.S. Government pensions and other transfers
Private remittances an d other transfers
30
-1,672
-1,855
-1,916
-1,917
-1,888
-1,808
-1,910
-1,805
-1,709
-1,649
31
32
—214
—423
—235
—434
—245
—477
—262
—575
-279
-614
-369
-677
-367
-655
-441
-879
-406
-836
-406
-939
33 38 58
—2 883
—4 484
—2 979
—5 764
-8,128
—4,176
-5, 530
-8,025
-8, 572
-8,823
58
59
60
62
61
2 145
1 703
606
857
1 533
890
377
461
171
125
1,222
1 665
568
571
52
1,170
-880
1,173
-1, 187
-967
442
—135
—116
626
17
29
-113
266
-220
-94
-349
537
-540
-94
-1,024
-870
-1, 183
-1,034
814
•33
34
36 37
35
—1 100
—1 214
642
-528
—910
—1 928
1 279
-261
—1 085
-2, 128
1 288
-245
-1, 662
-2,204
988
-447
-1,680
-2,382
720
-19
-1,605
-2,463
874
-16
-1,543
-2, 513
1,235
-265
-2,423
-3,638
1,005
209
-2, 274
-3,722
1,386
62
-2,200
-3,489
38
39
40
—3 878
—1 674
—663
—4 180
—1 598
—762
—3 426
—1 654
—969
—4 479
-1,976
—1 105
-6,618
-2,328
—677
-3, 793
-3,468
-759
-4, 554
-3, 625
-720
-5,653
-3,072
-1,308
-5,418
-2,880
-1,569
-5,436
44
45,46
—40
—354
—127
-431
-132
-222
162
-5
-485
-623
-88
429
—112
-330
-281
-498
-220
-982
-981
-1,524
-232
325
317
-84
235
-730
338
-105
31
32
33
U.S. assets abroad, net (increase /capital outflow (— ))
34
35
36
37
38
U.S. Official reserve assets, net 6
Gold
Special drawing rights
Reserve position in the International Monetary Fund
Foreign currencies
39
40
41
U.S. Government assets, other than official reserve assets, net
U.S. loans and other long-term
assets
Repayments on U.S. loans 7
U.S. foreign currency holdings and U.S. short-term assets, net
42
48
49
U.S. private assets, net
Direct investments abroad 5 .. ..
Foreign securities
U.S. claims on unaffiliated foreigners reported by U.S. nonbanking
concerns:
Long-term
_
Short-term.
U.S. claims reported by U.S. banks, not included elsewhere:
Long-term
Short-term. . _ .
50
Foreign assets in the United States, net (increase/capital inflow (+))...
43
44
45
46
47
51
41
42,43
47
56
57
Foreign official assets in the United States, net
U.S. Government securities
...
.
U.S. Treasury securities 8
Others
10
Other U.S. Government liabilities
U.S. liabilities reported by U.S. banks, not included elsewhere
Other foreign official assets **
*>55 *>57
*>56, P57
?48
?55, P56
?50 ?56
58
59
60
61
Other foreign assets in the United States, net
..
Direct investments in the United States5
U.S. Treasury securities
U.S. securities other than U.S. Treasury securities
52
53
54
55
.
. .
62
63
U.S. liabilities to unaffiliated foreigners reported by U.S. nonbanking concerns:
Long-term
Short-term
64
65
U.S. liabilities reported by U.S. banks not included elsewhere:
Long-term. _
Short-term
—153
' —995
2,120
—136
—1 125
2,467
-1,549
-424
298
297
-775
-781
1,697
2,981
3,317
382
3,320
6,938
»,439
12,270
1,986
816
803
12
429
742
1,661
433
435
-2
298
930
132
-143
-136
-7
65
210
-674
-1,529
-1,550
21
113
742
3,450
2,260
2,221
39
83
1,106
-776
-771
-800
29
-15
10
-1,301
-2,344
-2,269
-74
251
792
-867
1 473
655
655
765
233
233
215
603
25
508
1,270
1,409
1,410
-1
152
-291
49
P48, ?54
?48, ?50
647
141
—364
282
1,701
73
151
324
427
132
-66
134
995
-5
-149
287
1,656
-5
-146
-85
249
57
-131
-358
3,994
86
-356
906
3,488
258
-135
1,016
10, 215
319
136
4,414
13,571
832
-68
51
52
1
—91
50
176
3
-112
-13
-23
-38
113
29
149
180
296
85
499
715
759
701
91
53
P54
6
672
-5
933
5
331
53
845
88
1,730
241
262
188
2,694
158
1,607
72
3,799
160
8,726
63
64
-1,019
-988
-1,122
-360
-907
-457
628
507
-1,430
Allocations of special drawing rights
Statistical discrepancy (sum of above items with sign reversed)
68
69
70
71
Memoranda:
Balance on merchandise trade (lines 2 and 16) 12
Balance on goods and services (lines 1 and 15)
Balance on goods, services, and remittances (lines
69, 31, and 32)
Balance on current account (lines 69 and 29) 12
4,892
4,040
3,404
1,732
5,571
5,529
4,860
3,005
4,521
5,042
4,320
2,404
5,224
5,897
5,060
3,143
6,801
8,499
7,605
5,718
4,951
7,105
6,059
4,251
3,817
4,514
3,492
1,582
3,800
4,340
3,020
1,215
635
1,578
335
-1,374
72
73
Transactions in U.S. official reserve assets and in foreign official assets
in the United States:
Increase (— ) in U.S. official reserve assets, net (line 34)
Increase (+) in foreign official assets in the United States (line 51 less
line 55).
2,145
1,258
606
741
1,533
1,118
377
1,558
171
1,363
1,222
67
568
-787
52
3,367
-880
-761
-3, 190
—126
-324
66
67
See footnotes on pages 50-51.
1,200
89
-128
3,130
607
977
-368
-2,017
-1, 187
-1,552
SUEVEY OF CTJKKENT BUSINESS
June 1976
33
Transactions
of dollars]
1966
1974
1973
1972
1971
1970
1967
196*J
1975
Line
I
II
III
IV
I
II
III
IV
I
II
IV
III
62,483
65,614
72,664
102,154
144,773
148,410
10, 165
10,805
10,332
1,473
11,089
11,553
10,878
12,041
11,594
12,865
12,438
13,037
1
B 42, 469
1,501
2,331
544
3,113
1,758
573
1,287
332
43,319
1,926
2,534
615
3,277
1,927
618
1,539
347
49,381
1,163
2,817
699
3,555
2,115
655
1,764
354
71,410
2,342
3,412
975
4,434
2,513
712
1,960
399
98,310
2,952
4,032
1,104
5,658
3,070
751
2,250
413
107, 133
3,897
4,876
1,064
5,727
3,526
759
2,778
432
7,091
193
321
57
530
263
86
197
73
7,401
257
432
86
597
270
87
199
86
7,005
172
492
100
626
290
89
208
77
7,813
207
345
75
581
339
91
210
90
7,638
328
358
67
576
319
98
217
81
7,966
287
427
87
630
338
98
229
90
7,190
208
502
135
620
327
98
248
80
7,872
328
359
83
599
370
99
257
84
7,940
299
377
78
588
316
102
257
89
8,644
415
465
106
658
348
107
255
95
8,310
339
548
140
675
358
112
255
83
8,732
340
385
88
627
408
116
257
86
2
3
4
5
6
7
8
9
10
4,992
2,671
912
5,983
2,641
888
6,416
2,949
796
8,841
4,330
826
17,849
7,356
1,028
9,456
7,644
1,119
853
382
119
822
429
140
753
404
117
1,038
455
228
858
429
120
791
456
154
927
426
117
1,272
470
247
918
465
164
1,058
511
205
946
506
166
1,229
538
230
11
12
13
2,809
1,817
2,232
282
784
329
496
555
580
421
484
568
620
622
738
14
-98,249 --141,187 -132,141
-8,604
-9,464 -10,263
-9,929
-9,769
10,250 -10,563
10,639
11,042
12,001
12,920 -12,392
15
-98, 150
-4,780
-6,417
-2,380
-5,373
-241
-192
-1,351
-1,045
-5,913
-877
-424
-144
-487
-16
-15
-105
-144
-6,270
-925
-701
-254
—545
-16
-18
-117
-139
-6,540
-975
-1,037
-227
-573
-15
-21
-139
-198
-6,770
-987
-495
-128
-556
-17
-23
-145
-163
-6,614
-1,085
-468
-159
-536
-16
-25
-131
-152
-6,586
-1,075
-866
-282
-553
-15
-26
-138
-147
-6,416
-1,106
-1,327
-248
-515
-15
-26
-148
-208
-7,250
-1,112
-546
-141
-554
-17
-27
-149
-183
2,713
3,546
4,492
-59,545
-65,870
-78,618
B -39, 866 -45,579 -55,797 -70,499 --103, 679
-5,035
-4, 819 -4, 784 -4,629
-4,855
-5,042
-5, 526 -5,980
-4,373
-3,980
-1,790
-2,095
-1,290
-1,596
-1,215
-5,826
-3,461
-4,591
-2,816
-3,078
-212
-155
-209
-118
-111
-176
-186
-123
-139
-114
-935
-1,149
-1,201
-1,017
-810
-862
-966
-746
-788
-725
-7,684 -8, 202 -8,471
-1,103 -1,112 -1,147
-508
1, 239
-753
-282
-159
-291
-582
-560
-619
-19
-22
-18
-27
-27
-26
-170
-153
-166
-154
-207
-142
-8,634
-1,173
-530
-153
-606
-21
-26
-179
-257
16
17
18
19
20
21
22
23
24
-92
-492
-156
-107
-519
-188
25
26
27
-441
-3,591
-1,024
-621
-2,344
-1,844
-687
-2,470
-2, 684
-955
-4,028
-3, 836
-5,495
-6,249
-4, 262
-2,127
-5,543
-4,542
-82
-264
-133
-67
-279
-134
-88
-313
-138
-135
-365
-144
-93
-352
-138
-83
-333
-148
-89
-328
-138
-116
-370
-174
-106
-393
-174
-84
-440
-184
-2,713
-3,546
-4,492
-2,809
-1,817
-2,232
-282
-784
-329
-496
-555
-580
-421
-484
-568
-620
-622
-738
28
-3,294
-3,701
-3,848
-3,883 u -7, 184
-4,620
-842
-789
-673
-629
-744
-919
-818
-644
-664
-771
-753
-764
29
-1,736
-2,043
-2, 173
-1,938 K-5,475
-2,893
-618
-530
-376
-386
-485
-509
-447
-364
-393
-471
-390
-454
30
-462
-1,096
-542
-1,117
-572
-1, 103
-693
-1,252
-694
-1,016
-814
-913
-81
-142
-80
-178
-121
-176
-85
-158
-92
-166
-96
-314
-156
-215
-96
-184
-92
-179
-91
-209
-122
-241
-102
-208
31
32
-6,032
-9,596
-10,245
-16,434
-33,392
-31,131
-866
-1,836
-732
-2,096
-811
-2,000
-2,153
-3,061
-804
-2,387
-2,435
-2,946
33
2,477
787
-851
389
2,152
2,348
866
-249
1,350
381
32
547
-703
153
35
209
-1,434
-607
68
209
-6
121
1,027
51
-419
15
-375
92
-181
1,012
904
1,362
-137
22
-571
-74
-1,076
-137
9
-33
233
-172
-1,265
3
424
68
82
173
-66
-466
-75
134
222
22
-163
335
-426
46
-173
-31
1,007
-10
-424
e
-462
-48
-1, 145
-57
-401
-426
267
-23
-474
-364
-575
34
35
36
37
38
-1,589
-3, 293
1,721
-16
-1,884
-4, 181
2,115
182
-1,568
-3, 819
2,086
165
-2, 645
-4, 639
2,596
-602
"365
-5,001
"4,826
14
541
-3,463
-5,936
2,476
-3
-311
-589
187
91
-595
-695
190
-90
-299
-584
413
-128
-339
-646
445
-138
-646
-1,281
194
441
-644
-787
270
-127
-506
-729
183
40
-627
-841
358
-144
-742
-1,171
300
130
-730
-939
311
-102
-523
-789
265
-279
-823
510
34
39
40
41
42
-6,920
-4,281
-1,076
-10,060
-4,738
-1,113
-8,708 -13,998 -32,323
-3, 530 -4, 968 -7,753
-1,854
-618
-671
-27,061
-6, 307
-6,206
-979
— 59(
-437
-1,309
-1,071
-115
-515
-637
-115
-1,752
-1,322
-53
-1,192
-890
-265
-936
-380
-261
-1,272
-693
-419
-2, 254
-1,110
-363
-966
-573
-449
-1,520
-810
-283
-1,341
-961
-318
-1,591
-535
-519
43
44
45
-586
-10
-168
-1,061
-243
-811
-396
-1,982
-384
-925
-17
-191
-51
-13
-28
-57
-16
-69
-68
-94
-164
71
36
-27
-85
-448
34
-327
-32
-587
-57
-8
46
47
155
-1,122
-612
-2,368
-1,307
-2, 199
-933
-5,047
-1, 183 -2,351
-18,311 -10,887
117
145
1
-59
92
229
107
-399
143
-18
179
-382
-87
-82
(*)
-248
130
21
49
143
155
-79
-165
13
/
-388
48
49
5,923
22,445
21, 127
18,519
32,433
14,879
-70
1,120
954
1,316
90
1,904
2,423
2,52
6,907
9,437
9,410
28
-456
-2,075
26,895
26, 586
26,594
-8
-510
819
10,705
8,499
8,243
257
383
1,638
185
6,299
696
114
582
1,153
4,126
323
10, 981
4,184
3,282
902
724
5,818
254
6,336
5,203
4,312
891
1,732
-2,474
1,874
-797
-766
-766
326
-241
-241
(*)
V;
2
565
-435
-426
-45
25
5
-59
232
-9
-9
1,330
87
91
-4
201
1,042
340
529
52
9'
23
316
39
36
2
6
-13
-984
1,030
81
2,189
-4,450
-175
-22
2,289
10,422
380
-34
4,507
12,220
2,656
-214
4,041
21,452
2,745
697
378
8,544
2,437
2,649
2,727
726
52
-102
173
794
38
-316
518
1,38
-11
6
10
1,08
IK
-22
&
1,112
902
384
-15
594
221
298
737
-212
1,827
313
-235
29
39
12
66
23
-6,321
-250
-6,661
149
4,605
227
4,475
9
16,008
-355
1,008
12
524
867
-402
717
-9,609
710
-1,790
-2, 107
4,557
4,602
2,602
2,938
1,38C
-35C
-2,26C
-256
-1,915
-3,957
-6,416
-5,954
-7,629
-9,802
911
3,905
1,960
22
-5,369
3,586
1,877
-3,598
32
10,322
20£
5,145
-1,434
10,257
2,47''
7,36$\
2,348$
27,40£>
-474
-2,747
-3
1,464
1,255
1,24
958
2,500
2,99
2,990
50
-1,432
-1,40
-1,40
(*)
-1
-1
57
58
58
-2
1
1,094
944
944
(*)
46
104
51
52
53
54
55
56
57
8
1,12
2,41
2
—
1,12
1,896
4
36
1,312
58
59
60
61
165
26
2
22
376
21
62
63
-55
-134
-12
33
-1,01
-89
-92
3
-2
-9
2,08
1
-3
52
1,05
11
-3
3
1,97
25
2
85
10*
13
575
70
-61
329
6
13
c
12
9'
-24
90
157
320
1
1,12
72
6
-70
20
151
1,3(1
1
79
217
163
38
-13
14
-289
23
8,983
16, 269
14,542
11,650
1,178
1,560
1,337
719
1,131
1,341
1,083
553
46
6
-22
-60
1,04
1,54
1,30
91
1,02
1,32
1,06
57
1,380
1,304
893
385
-607
4,603
424
-764
68
324
8
-48
13
1,02
25
-419
1,129
-1
183
5
15
13
5i
3,93
-60
69
2
2,26
-1
1,03
119
-20
64
65
-21
-4
-20
67
7
66
67
77
31
—5
-50
62
1,40
1,12
75
25
55
28
-11
-37
39
-18
1,59
90
-99
44
86
565
9
-13
-1,41
-16
-48
-84
-1,23
-57
600
9
644
33
-12
-1,07
1,04
68
69
70
71
72
73
SUKVEY OF CURRENT BUSINESS
34
June 1976
Table 1.—U.S. International
[Millions
Line
(Credits -f ; debits -)1
Ref. lines
(table 2
March 1976
SURVEY)
1 Exports of goods and services 2 _ _ .
1
2
Merchandise, adjusted, excluding military 3. .
Transfers under U.S. military agency sales con3
tracts.
4
4
Travel
5
5
Passenger fares
6
Other transportation
.
6
7
7
Fees and royalties from affiliated foreigners...
8
Fees and royalties from unaffiliated foreigners
8
9
9
Other private services
U.S. Government miscellaneous services.
10
10
Receipts of income on4 U.S.
assets abroad:
11
11
Direct investments fi..
12
12
Other private receipts
...
-_
13
U.S. Government receipts.. .13
14 Transfers of goods and services under U.S. military
14
grant programs, net.
15 Imports of goods and services ..
15
16
Merchandise, adjusted, excluding military 3. .
16
17
17
Direct defense expenditures
18
18
Travel
19
Passenger fares.
... ...
19
Other transportation
20
20
21
Fees and royalties to affiliated foreigners
21
22
22
Fees and royalties to unaffiliated foreigners23
Private payments for other services
23
24
24
U.S. Government payments for miscellaneous
services.
Payments of income on foreign assets in the
United States:
25
Direct investments 4 5
.
25
26
Other private payments
26
27
U.S. Government payments
27
28 U.S. military grants of goods and services, net
28
29 Unilateral transfers (excluding military grants of
29
goods and services), net.
U.S. Government grants (excluding military
30
30
grants of goods and services) .
31
U.S. Government pensions and other transfers. . _
31
32
Private remittances and other transfers
32
33 U.S. assets abroad, net (increase/capital outflow (-))
. ... 33, 38, 58
34
U.S official reserve assets, net '
58
35
Gold
59
36
Special drawing rights
. .
60
37
Reserve position in the International Mone62
tary Fund.
38
Foreign currencies
61
39
U.S. Government assets, other than official
33
reserve assets, net.
40
U.S. loans and other long-term
assets
34
41
Repayment on U.S. loans 7
- 36,37
42
U.S. foreign currency holdings and U.S. short35
term assets, net.
43
U.S. private assets, net
38
5
44
39
Direct investments abroad
45
Foreign securities
40
U.S. claims on unaffiliated foreigners reported
by U.S. nonbanking concerns:
46
Long-term
44
47
Short-term
45,46
U.S. claims reported by U.S. banks, not included elsewhere:
48
Long-term
_
41
49
42,43
Short-term
50 Foreign assets in the United States, net (increase/
47
capital inflow (+)).
51
Foreign official assets in the United States net
52
U.S. Government securities8
53
U.S. Treasury securities . . _ . - . _
p 55, P 57
Other 10
54
p 56 P 57
Other U.S. Government liabilities >o
_ ...
55
P48
56
U.S. liabilities reported by U.S. banks, not
P 55, P 56
included elsewhere.
57
Other foreign official assets «
P 50, P 56
58
Other foreign assets in the United States, net
..
59
Direct investments in the United States 5
49
60
U.S. Treasury securities
P 48 P 54
U.S. securities other than U.S. Treasury
61
P 48, P 50
securities.
U.S. liabilities to unaffiliated foreigners reported by U.S. nonbanking concerns:
62
Long-term
51
63
Short-term
52
U.S. liabilities reported by U.S. banks not
included elsewhere:
64
Long-term
53
65
Short-term
p54
66 Allocations of special drawing rights
63
67 Statistical discrepancy (sum of above items with
64
sign reversed).
Memoranda:
68 Balance on merchandise trade (lines 2 and 16).12 ..
69 Balance on goods and services (lines 1 and 15)
70 Balance on goods, services, and remittances (lines
69, 31, and 32).
71 Balance on current account (lines 69 and 29) 12
Transactions in U.S. official reserve assets and in
foreign official assets in the United States:
72
Increase (— ) in U.S. official reserve assets, net
(line 34).
73
Increase (+) in foreign official assets in the United
States (lines 51 less line 55).
2
3
See footnotes on pages 50-51
19 39
I
II
19 70
III
IV
19'^1
I
II
14,996
10, 247
268
16, 246
11, 149
487
15 112
10, 141
313
16 129
10 932
433
16 083
11 031
484
17 103
11, 341
577
16 151
10 855
433
16 278
10 092
432
III
I
IV
II
III
IV
11,545
7,443
395
14,451
9,865
330
13, 643
8,936
415
15, 060
10, 170
338
442
82
498
341
119
270
83
554
113
732
397
120
283
90
625
163
735
363
122
299
86
422
92
687
433
125
309
84
507
103
701
390
132
322
81
624
143
801
449
140
318
83
699
181
843
429
147
323
86
501
117
768
490
154
325
83
552
124
769
425
155
350
85
653
157
886
479
155
372
98
751
190
907
451
154
397
80
678
144
715
573
153
421
84
1,165
523
184
493
1,103
584
231
739
1,127
582
191
568
1,425
649
326
810
1,391
653
202
559
1,126
684
243
739
1 112
661
178
735
1,364
673
289
680
1 268
660
179
883
1,514
642
229
875
1 119
648
167
733
2 081
692
314
1,056
B
-11,062 — 14 193 — 14,397 — 14,070 — 13 839 — 15 123 — 15 555 — 15 028 — 14 843 -17,091
-7, 330 —9, 742 —9, 165 -9, 570 B—9^74 — 10 034 —9, 836 — 10,522 — 10 471 —11, 975
—1 198 — 1 187 — 1 221 —1,251 — 1 178 — 1 259 — 1 211 — 1 208
1 174 -1,206
—552
—602
—632 — 1 046 — 1 607
—859 — 1,360
—695
731 -1,165
-428
—224
-197
-187
—353
-343
—211
—398
—382
—210
-805
—493
—633
—645
—685
—598
—785
— 712
—721
706
29
-27
—28
—22
—28
—24
—23
—28
—30
—30
-29
-27
—32
-33
—32
—29
—27
—26
—29
—27
923
-232
— 189
— 184
— 189
— 193
— 189
207
—207
204
-159
-157
-201
-161
-149
-210
-202
-151
-210
-151
16 189
17 748
11 845 — 11 288
1 236
1 203
1 677
800
392
260
721
846
32
30
35
32
240
240
-205
-231
—125
—995
—204
-559
-793
—97
—928
—243
-739
-862
—98
—876
—273
-735
-805
—120
—793
—304
-680
-833
—177
625
320
-883
-827
-137
-537
-390
-875
-942
160
580
512
-733
-947
— 147
603
622
-1,056
-986
-374
-444
-444
-400
-448
-466
-525
-504
-548
-102
-243
-100
—249
-118
—301
-122
-283
-122
-264
-124
—238
-142
-275
-138
355
-138
—300
-1,406
—154
—695
-542
—2 855
—386
—44
—920
-253
—1,634
1 022
14
—37
227
—575
801
395
-34
406
—967
1 040
422
140
9
—2 759
145
109
—592
255
-2,531
838
456
196
252
—1 896
1 373
300
150
851
—2 410
g
I
_3
-8
1,083
-362
831
-485
818
-440
34
-352
469
-312
373
-663
-66
-656
72
-318
2
-246
—702
115
-59
—797
419
16
—877
373
20
—929
526
-37
—704
308
44
—783
514
-43
1 258
515
80
-1,299
564
79
732
408
6
—891
628
17
—2 332
—1 171
—498
—859
-924
—546
—891
—108
—139
—1 984
—1,501
—306
—2 216
—1 594
80
—1 024
—756
—517
—1 695
—430
—333
—2 240
— 1 532
408
-2,713
-1,659
—368
2 951
—1*291
*346
—2 156
—256
9
—82
—118
—80
—15
—13
248
—249
183
—381
—59
—12
—145
—129
72
—64
122
33
391
I
180
37
207
99
283
123
77
3,011
19
—588
4,472
121
255
3,940
34
—611
847
14
249
1,615
49
—594
1,646
12
293
2,017
80
—1 070
645
15
109
2,380
153
355
5,760
—247
822
9,058
—227
— 1 300
5,248
— 1 712
—1 265
—1,252
—12
—69
-379
864
—585
—540
—45
46
-325
1 629
1 837
1 854
—17
—58
-150
—354
—2 331
—2 331
(*)
331
1,646
2 320
1 757
1 759
_2
—41
604
788
1 737
1 705
32
—257
-692
1 841
2 736
2 738
_2
31
-926
1 957
3 207
3 207
5
5
11 115
10 731
10 733
2
—215
599
5 744
5 751
5 751
—189
-1,061
4 490
4 796
4 798
2
—84
-223
4 723
246
—125
1,388
5 336
164
—35
365
2 311
152
79
396
1 201
270
13
981
—705
491
16
304
858
104
—35
374
176 — 1 312
245
190
1
99
720
792
2 110
118
179
559
2 057
—437
794
626
—497
160
1 269
908
156
—83
59
80
145
113
341
—19
90
100
325
168
200
211
497
423
164
265
79
191
168
379
161
—6
3 147
21
4 683
128
1 298
17
—402
19
—97
22
—1 223
—25
—3 288
—71
—1 358
34
—870
-447
-314
289
55
152
—2 713
717
-751
61
1 720
-958
7
—1 713
867
9
-2,300
-4,618
-1,940
113
483
196
123
258
-109
—229
—754
-1,100
600
990
645
773
1 158
808
—180
—673
—1 435
271
364
-48
-299
-686
—154
-386
1,022
-1,644
-910
1,687
-685
2,361
1,045
—101
—611
—185
-493
-663
—99
—738
—192
-739
-931
—99
—924
—188
-568
-681
-117
—996
—212
-810
-719
-376
-564
-335
-99
-188
-102
-265
-104
-243
-1,872
—48
56
—3 352
—299
—317
-2, 192
—686
—11
-31
-228
-233
-73
-471
246
-721
-442
-647
—993
293
230
—997
373
-98
-1,354
-987
—366
KAA
«mo
5 312
\
79
316
214
16
•I QCO
196
00
—134
127
-272
-193
1 115
1,123
704
305
—444
-848
410
1 101
716
560
1 240
879
—634
13
—404
—990
—1 597
—2 040
—1 196
89
—349
—1 249
267
413
—929
—2 544
—897
261
801
1,810
1,040
2,146
145
838
1 373
—8
4,573
5,624
11, 330
5,878
SURVEY OF CURRENT BUSINESS
June 1976
35
Transactions—Continued
of dollars]
1972
I
II
19 74
1973
III
I
IV
II
III
IV
I
III
II
1976
19 75
IV
I
Line
IV
III
II
IP
1
17, 145
11,916
316
17,727
12,074
321
17,365
11,619
227
20,428
13, 772
299
22,304
15, 610
332
24,871
17,642
504
24,894
17, 220
489
30,084
20, 938
1,017
33,452
22, 767
644
36, 627
25, 295
738
35, 074
23, 158
720
39, 620
27, 090
850
36,997
27, 265
931
36, 674
26, 850
865
35,006
24,682
906
39,732
28,336
1,195
38,863
27,417
1,175
2
3
604
135
783
473
157
438
82
742
180
898
531
161
441
95
840
216
951
510
166
440
90
631
167
923
602
171
445
87
788
197
996
570
172
474
84
860
243
1,126
589
176
482
97
1,007
323
1,209
646
180
492
128
757
212
1,103
709
184
513
90
951
233
1,250
670
186
538
88
1,005
266
1,482
754
187
550
102
1,180
355
1,491
746
189
568
111
896
249
1,436
900
189
595
112
1,173
223
1,355
823
189
647
99
1,199
224
1,434
896
189
677
127
1,426
370
1,491
836
190
709
105
1,078
247
1,448
971
190
745
101
1,316
240
1,451
851
193
768
120
4
5
6
7
8
9
10
1,338
708
196
1,245
1,397
697
190
982
1,408
752
145
1,290
2,273
793
265
976
2,009
879
194
723
1,958
988
207
868
1,884
1,160
158
785
2,991
1,304
268
433
4,533
1,396
197
406
4,228
1,746
274
564
4,232
2,106
220
352
4,857
2,108
337
496
2,169
1,920
205
797
2,150
1,801
261
1,202
2,083
1,933
275
56
3,053
1,990
378
177
3,004
2,051
276
50
11
12
13
14
-18,370
-13,358
-1,222
-862
-280
-805
-38
-31
-254
-164
-19,516
-13,643
-1,272
-1,364
-527
-844
-39
-34
-257
-173
-37,964 -37,265 -32,912 -31,521 -33,474 -34,233 -36, 287
-26, 928 -28, 132 -24, 954 -23, 115 -24, 206 -25, 875 -28,043
-1, 162
-1,317
-1,185
-1,265
-1,185
-1,093
-1,319
-1,208
-1,330
-2,115
-1,138
-2,300
-1,191
-1,649
-502
-518
-595
-433
-706
-437
-739
-1,392
-1,436
-1,306
-1,562
-1,573
-1,277
-1,398
-74
-71
-56
-50
-60
-54
-48
-52
-46
-51
-46
-45
-47
-49
-362
-378
-341
-295
-300
-319
-329
-250
-200
-323
-220
-303
-349
-239
15
16
17
18
19
20
21
22
23
24
-187
-556
-614
-1,245
-992
-150
-580
-631
-982
-1,023
-138
-635
-687
-1,290
-944
-212
-700
-752
-976
-889
-144
-773
-830
-723
-746
-184
-912
-960
-868
-1,103
-305
-1,111
-1,014
-785
-877
-636
-1,409
-1,113
-177
-1,215
-802
-1,296
-1,069
-50
-1,109
25
26
27
28
29
-605
-598.
-536
-435
-376
-685
-449
-429
-142
-245
-142
-283
-121
-287
-166
-288
-172
-198
-171
-247
-179
-249
-172
-557
-107
-233
-3,848
-103
544
-710
-1
-1,191
-53
-2,087
122
3
-3,118
66
-6, 670
220
-2,492
17
-1,495
-13
-5,778
-15
7
185
-15
-16
-13
9
8
-13
64
-303
-245
-340
134
-456
82
-469
233
-681
-904
494
108
-953
600
14
-817
347
14
-1,144
644
30
-1,302
651
-30
-3, 443
-1,689
-476
-799
-441
-318
-1,753
-1,095
203
-2, 714
-306
-28
-74
-238
-64
-114
20
-157
-189
-111
4,101
-346
484
4,620
2,511
3, 047
2,811
236
-98
-438
-20,092 -20,641
-13,709 -15,087
-1, 105 3 -1,185
-1,873
-943
-486
-303
-914
-898
-34
-43
-36
-38
-248
-258
-245
-206
-21,957 -24,791
-16,178 -17,630
-1,169 3-1,231
-930
-1,584
-358
-610
-1,025
-1,132
-56
-49
-40
-43
-280
-284
-174
-173
-25, 187 -26,314
-17,278 -19,413
-1,162
-1,067
-1,995
-1,017
-312
-510
-1,247
-1,187
-46
-58
-46
-47
-286
-300
-232
-283
-29,292 -36,666
-22, 101 -26,518
-1,153
-1,298
-1,013
-1,661
-378
-685
-1,227
-1,464
-60
-54
-48
-47
-305
-302
-185
-193
-491
-1,451
-1,187
-797
-1,151
-474
-1,325
-1,101
-1,202
-1,250
-622
-751
-802
-565
-775
-659
30
-194
-252
-200
-200
-197
-251
-203
-235
-214
-227
-222
-227
31
32
-10,167
137
-8, 188
-325
-7, 978
-29
-4,076
-342
-10,888
89
-9,703
-773
-123
-728
-20
-84
-4
-307
-16
-7
-25
-95
-21
-57
-45
-237
33
34
35
36
37
-85
221
-152
-216
241
-851
-14
-1,086
-6
-876
-222
-626
167
-876
-491
-865
38
39
-1,318
948
591
-858
498
144
-1,494
656
-13
-1,657
542
29
-1,580
707
-2
-1,245
574
45
-1,454
653
-75
-1, 525
650
10
40
41
42
-9, 094
-1,137
-600
-9, 922
-1,485
-272
-3, 854
-1,900
-282
-9, 453
-3, 231
-699
-6, 777
-1,510
-1,928
-7, 074
-2,334
-979
-3, 109 -10,101
-1,694
-770
-2, 361
-938
-8,065
-1,580
-2, 507
43
44
45
-55
-810
-128
-1,985
(*)
-588
-138
411
-208
-585
22
341
55
4
-139
-833
-322
-437
-84
-180
46
47
176
123
2,700
-510
-2,018
2,420
-178
-5,066
5,906
-913
-6, 664
11,049
88
-2,032
7,612
-180
-4, 549
7,867
-441
-3, 261
2,837
-381
-3,439
3,907
-586
157
2,400
-943
-4,344
5,736
-245
-3, 469
5,018
48
49
50
-344
-2, 558
-2, 746
188
442
1,688
-692
-1,548
-1,550
2
199
657
-2,655
-3, 735
-3, 401
—334
296
784
4,648
3,085
2,948
136
158
1,341
3,149
-514
-905
391
418
3,246
4,256
2,736
2,132
604
82
1,253
3,402
5,792
5,298
494
444
-3,203
2,331
883
818
65
418
591
-1,985
-2, 855
-2, 880
25
371
17
2,587
1,383
1,076
307
499
121
3,325
1,778
1,713
65
1,469
-571
51
52
53
54
55
56
239
547
371
-118
1,718
84
3,207
583
-185
489
3,392
990
-204
1,173
5,075
711
293
662
-1,072
-1,122
-893
—229
66
-22
6
6,977
1,309
136
712
64
6,401
1,712
-240
363
_1
4,462
31
200
227
185
3,611
-307
601
-925
369
-565
476
752
344
439
1,576
780
-423
385
482
4,384
-48
2,158
781
584
3,148
1,229
162
1,217
649
1,693
-689
451
1,026
57
58
59
60
61
244
2
60
-6
182
272
-188
469
-41
395
-364
754
-160
399
353
279
357
-35
77
-19
-99
-42
-22
-139
-170
194
62
63
-61
1,467
153
-1,823
78
2,187
28
951
-32
3,160
155
4,311
7
4,169
-40
3,805
-113
3,723
-45
-2,414
-287
1,063
-114
1,748
91
611
166
715
-1,013
-1,415
-3,468
652
-36
745
976
996
1,573
1,012
2,418
168
1,148
868
3,217
64
65
66
67
-1,569
-1,789
-2, 214
-2,090
-2, 728
-3, 136
-1,315
-213
-667
-568
347
-23
12
80
-338
-58
-292
-720
1,525
3,770
3,042
666
4,160
3,820
-1,223
-40
-504
-3, 770
-2, 890
-3, 348
-1,042
2,356
1,909
2,311
4,085
3,685
3,735
5,154
4,705
476
1,532
1,094
2,461
5,499
5,058
-626
2,576
2,127
68
69
70
-2, 812
-3, 672
-1, 102
-399
-1,023
-1, 169
2,613
1,211
-1,985
-4, 112
1,288
2,934
3,903
529
4,284
1,467
71
-103
-53
122
66
220
17
-13
-15
-210
-358
-1,003
137
-325
-29
-342
89
-773
72
2,609
794
5,468
1,451
9,774
-786
-891
-2, 951
-1, 138
4,490
2,731
4,174
2,958
1,913
-2, 356
2,088
1,856
73
-636
-323
-1,232
-1,219
-967
-1,031
-406
-433
-1,157 «-2,949
-1,924
-1,472
-1,047
-564
-1,945
-1,879
-1,779
-1,090
-352
-1,222
« -2, 609
-1,481
-764
-189
-276
-204
-255
-8,093
-210
-10,060
-358
-5,073
-1,003
(*)
-15
-209
-29
-244
-533
(*)
-949
-1
n 1,212
-1,337
879
-25
-1,027
463
31
-974
604
-579
-1,331
u 2, 723
14
-6,209
-2, 467
55
-2, 027
-975
-86
-948
-549
-196
-4, 814
-977
-445
-125
-302
-136
-673
-50
-152
-155
-347
-360
-365
6,772
-412
-1,541
5,634
-273
-2,715
10, 537
-326
-437
2,863
904
196
173
23
110
598
5,611
5,332
5,335
—2
142
74
1,680
-76
-76
^229
1,404
9,990
8,537
7,812
726
217
997
1,590
-221
-3
1,059
3,717
216
-83
961
62
1,161
156
-12
718
123
3,954
229
64
1,769
-83
45
226
42
142
-44
309
178
200
592
710
1,255
83
2,272
-73
274
-617
-1,442
-1,225
-1,613
-2, 217
»
(*)
-482
-181
-1,056
-1,779
-1, 157
-496
-1,068
-527
-1,358
-1, 140
-56
-1,003
SURVEY OF CUEEENT BUSINESS
36
June 1976
Table 2.—U.S. International
[MiUions
19 66
(Credits +; debits -)i
Line
I
1 Exports of goods and services 2
2
3
4
5
5
7
g
g
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. assets abroad:
Direct investments *»s
Other private receipts
U S Government receipts.
....
_
_
-
.
__
..
..
.
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 assets in the United States:
Direct investments 4> 5
Other private payments. .
U.S. Government payments
.
...
._
16
17
18
19
20
21
22
23
24
--
_.
. ._
_
__
__
II
1? 67
III
IV
I
II
III
IV
10, 427
10,503
10 806
11 040
11 317
11 236
11 419
11 589
7,193
196
374
73
564
276
86
197
76
7,171
214
394
84
581
280
87
199
82
7 408
203
410
74
609
300
89
208
79
7 538
216
412
87
580
306
91
210
89
7 688
329
412
88
610
338
98
217
84
7 714
239
392
87
612
345
98
229
85
7 663
242
414
99
599
336
98
248
83
7 601
041
428
98
604
335
99
257
84
847
389
156
853
413
145
859
421
146
908
446
157
858
437
158
834
441
160
1 044
443
150
1 111
460
171
282
784
329
496
555
580
421
484
-9,028
-9,303
-9, 910
-10, 020
—10,151
—10 079
—10 236
—10 758
-6 030
-877
-644
-190
-512
—16
—15
-105
-157
—6 170
-925
-676
-182
-539
—16
— 18
—117
-161
—6 617
—975
—666
-187
-562
—15
—21
—139
-161
—6 676
—987
—671
-194
-548
—17
—23
—145
-165
—6 668
—1 085
—707
—207
-561
—16
—25
—131
-166
—6 476
—1 075
—843
—205
—547
—15
—26
—138
—169
6 570
—1 106
—914
—203
—505
—15
—26
—148
—175
—7 152
— 1 112
—743
—214
-545
—17
—27
-149
-181
-85
-266
-131
—78
—285
—136
—101
-322
—144
—108
—348
-138
—94
—354
-137
—95
—340
-150
—97
-332
-145
-95
-357
-166
-484
28
U.S military grants of goods and services, net
—282
—784
—329
—496
—555
—580
—421
29
Unilateral transfers (excluding military grants of goods and services) , net
—825
—730
—711
—665
-728
-859
-855
-682
-588
—81
—156
-484
—80
—166
-419
—121
—171
-419
—85
—161
-455
—92
—181
-461
—96
-302
-490
—156
-209
-399
-96
-187
—1,031
—1 524
-1,228
—1, 748
-711
-1,870
-2, 726
-2,718
-181
1,012
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
U.S. assets abroad , net (increase/capital outflow ( — ) )
_
34
35
36
37
38
U.S. official reserve assets, net 8
Gold
-- Special drawing rights
_
_
Reserve position in the International Monetary Fund
Foreign currencies. .
39
40
41
42
U.S. Government assets, other than official reserve assets, net
U.S. loans and other long-term
assets
Repayments on U.S. loans 7
.
U.S. foreign currency holdings and U.S. short-term assets, net
43
44
45
U.S. private assets, net
Direct investments abroad 5
Foreign securities
U.S. claims on unaffiliated foreigners reported by U.S. nonbanking concerns:
Long-term
Short-term
U.S. claims reported by U.S. banks, not included elsewhere:
Long-term
Short-term
_. . _
46
47
48
49
.
.
._
424
68
68
209
82
173
—6
121
1 027
51
—419
15
-375
92
134
222
22
—163
335
—426
46
-173
—31
1 007
—10
—424
—5
-462
-48
-1,145
—321
—495
206
-32
—504
—643
203
—64
-339
—686
441
—94
-380
—690
385
-75
-643
— 1, 158
214
301
-543
-740
289
-92
-551
-851
223
77
-685
-889
280
-76
—1 134
—681
—437
—1 088
—930
—115
—971
-860
—115
-1 362
-1,155
-53
-1,095
-694
-265
-908
-495
-261
-1,800
-930
-419
-1,852
-954
-363
—17
—142
—28
—77
—16
—94
—68
-39
-164
95
36
-76
-85
-478
117
26
—51
17
1
24
92
17
107
—151
143
-172
179
-262
-87
-324
(*)
916
735
1,216
337
1,840
2,296
2,466
50
Foreign assets in the United States, net (increase/capital inflow (+))
452
51
52
53
54
55
56
57
Foreign official assets in the United States, net
U.S. Government securities8
... .
U.S. Treasury securities
Others
_
10
Other U.S. Government liabilities
U.S. liabilities reported by uU.S. banks, not included elsewhere
Other foreign official assets
—79
| (15)
58
59
60
61
Other foreign assets in the United States, net
Direct investments in the United States 5 ._
U.S. Treasury securities
U.S. securities other than U.S. Treasury securities
62
63
U.S. liabilities to unaffiliated foreigners reported by U.S. nonbanking concerns:
Long-term
Short-term...
64
65
U.S. liabilities reported by U.S. banks not included elsewhere:
Long-term
Short-term..
66
67
... _.
Allocations of special drawing rights
Statistical discrepancy (sum of above items with sign reversed)
Memoranda :
68 Balance on merchandise trade (lines 2 and 16) _
69 Balance on goods and services (lines 1 and 15) 12
70 Balance on goods, services, and remittances (lines 69, 31, and 32)
71 Balance on current account (lines 69 and 29) 12 .
72
73
Transactions in U.S. official reserve assets and in foreign official assets in the United States:
Increase (-) in U.S. official reserve assets, net (line 34)
Increase (+) in foreign official assets in the United States (line 51 less line 55)
See footnotes on pages 50-51.
—7
—440
-150
749
1,160
446
1,096
/15\
(15)
(15)
(15)
(15)
(15)
(15)
28
—47
is —32
48
15 —55
24
103
is -567
-3
10
is -157
28
59
15662
-3
246
15917
8
-10
15448
6
-212
is 1, 302
531
52
—102
173
923
38
—316
518
1,175
-113
66
107
1,366
110
—4
108
-412
64
-6
133
680
70
-61
329
1,850
12
-36
520
1,370
112
-32
34
29
39
12
66
61
134
78
57
125
94
-24
90
-19
183
3
132
12
328
157
448
12
908
7
1,010
67
-889
20
256
55
1,135
16
1,105
5
138
308
177
-64
-268
102
103
1,163
1 399
1 162
574
1,001
1 200
954
470
791
896
604
185
862
1,020
774
355
1,020
1,166
893
438
1,238
1,157
759
298
1,093
1,183
818
328
449
831
548
149
424
—32
68
—55
82
-543
-6
-160
1,027
690
-419
914
-375
456
-181
1,308
SURVEY OF CURRENT BUSINESS
June 1976
Transactions
37
-Seasonally Adjusted
[Millions
of dollars]
1()68
I
II
19()9
IV
III
15)70
I
II
III
IV
I
II
Line
IV
III
11,780
12,526
13, 106
12,523
11,789
14,007
14,359
14,544
15,323
15,722
15,862
15,577
1
7,944
302
433
101
623
338
102
257
92
8,390
343
431
105
638
350
107
255
87
8,898
392
451
102
648
370
112
255
87
8,394
356
460
104
639
372
116
257
87
7,486
412
502
108
528
366
119
270
86
9,485
327
514
112
710
394
120
283
84
9,581
452
514
119
705
377
122
299
89
9,862
337
513
111
709
396
125
309
84
B 10,366
281
574
131
737
419
132
322
83
10,704
435
579
139
776
441
140
318
77
10, 822
357
575
134
809
450
147
323
89
10, 577
428
603
140
791
448
154
325
83
2
3
4
5
6
7
8
9
10
912
473
203
1,117
497
206
1,059
523
209
1,063
528
147
1,156
530
226
1,172
574
232
1,267
596
238
1,224
638
236
1,378
658
242
1,194
678
241
1,264
672
220
1,156
663
209
11
12
13
568
620
622
738
493
739
568
810
559
739
735
680
14
-11,526
-11,884
-12,494
-12,453
-11,696
-13,962
-13,892
-14,176
-14,542
-14,855
-14,962
-15,191
15
-7,823
-1,103
-760
-207
-587
-22
-27
-153
-170
-8, 136
-1,112
-738
-216
-577
-18
-27
-166
-168
-8,576
-1,147
-788
-230
-607
-19
-26
-170
-175
-8,456
-1,173
-744
-232
-596
-21
-26
-179
-247
-7,589
-1, 198
-821
-255
-518
-28
-27
-184
-175
-9,572
-1,187
-834
-264
-631
-24
-29
-189
-178
-9,271
-1,221
-850
-277
-632
-22
-32
-189
-178
-9,375
-1,251
-868
-284
-675
-28
-33
-189
-186
B -9,746
-1,178
-946
-292
-628
-23
-32
-193
-183
-9,847
-1,259
-1,005
-293
-716
-30
-29
-204
-180
-9, 963
-1,211
-1,010
-320
-764
-28
-27
-207
-176
-10,310
-1,208
-1,019
-310
-708
-30
-26
-207
-186
16
17
18
19
20
21
22
23
24
-104
-395
-175
-95
-449
-182
-98
-493
-165
-92
-507
-180
-98
-615
-188
-111
-752
-191
-105
-919
-196
-102
-983
-202
-115
-998
-208
-109
-942
-241
-105
-866
-285
-111
-786
-290
25
26
27
-568
-620
-622
-738
-493
-739
-568
-810
-559
-739
-735
-680
28
-649
-710
-791
-802
-651
-874
-719
-751
-786
-810
-839
-860
29
-362
-92
-195
-423
-91
-196
-434
-122
-235
-489
-102
-211
-347
-99
-205
-520
-102
-252
-379
-104
-236
-403
-102
-246
-417
-100
-269
-404
-118
-288
-444
-122
-273
-471
-122
-267
30
31
32
-689
-1,937
-2,839
-3, 106
-2, 742
-2, 698
-1,433
-2,086
-990
-1,517
-1,439
33
904
1,362
-137
22
-571
-74
-1,076
-137
-57
-401
-426
267
-23
-474
805
14
-254
227
818
584
395
-251
406
34
824
422
-76
9
469
34
35
36
37
38
-706
-1,032
342
-16
-632
-895
317
-54
-887
-363
-449
-1,949
-48
56
-299
-317
-686
-11
-154
-695
-364
-575
-31
-73
-228
246
-233
-442
-542
1,083
264
-44
—270
-253
831
-568
-923
317
38
-368
-872
409
95
-406
-854
344
104
-632
-943
361
-50
-703
-847
177
-33
-459
-845
318
68
-399
-740
430
-89
-348
-864
508
8
-423
-860
370
67
-419
-829
412
-2
39
40
41
42
-1,168
-680
-283
-1,700
-966
-318
-1,662
-870
-519
-1, 495
-907
-366
-1,811
-976
-498
-1,309
-884
-546
-820
-423
-139
-1,951
-1,216
-306
-1,447
-1, 189
80
-1,678
-871
-517
-1,844
-1,005
-333
43
44
45
34
-265
-32
-535
-57
-156
-165
-26
-82
-50
-80
59
-13
154
-249
135
-381
15
-12
-61
-129
-28
-64
64
46
47
130
26
49
313
155
-358
4
-86
123
-213
19
-335
121
-141
34
-178
14
-77
49
-314
12
-145
80
-586
48
49
1,234
2,156
2,601
3,447
3,479
3,940
3,564
1,291
1,943
906
1,707
1,371
50
-557
-1,915
359
1,337
-1,189
-586
2,714
860
1,290
2,046
51
52
53
54
55
56
57
(15)
(15)
(15)
(15)
(15)
-619
(15)
1,096
(15)
(15)
(15)
(15)
(15)
(15)
-1
257
is -842
31
-206
is 1, 035
-1
-1
-32
15 2, 747
42
15 1, 249
-260
152,307
32
-18
is -571
45
is -1,959
i
1
15359
-43
151,381
-11
-80
is-1,098
-46
99
is —672
-16
-26
is 1, 138
1,791
251
22
855
4,071
5
86
1,122
2,242
23
-8
1,124
2,110
41
36
1,312
4,668
246
-125
1,388
4,559
164
-35
365
2,468
152
79
396
1,877
270
13
981
-771
491
16
304
46
104
-35
374
417
245
1
720
-675
190
99
792
58
59
60
61
154
53
210
268
88
227
263
211
173
-83
101
80
232
113
195
-19
122
100
366
168
299
211
325
423
62
63
-60
516
25
2,355
-12
800
119
128
-6
3,075
21
3,863
128
1,368
17
420
7
-1, 811
19
-950
22
-1,081
-25
-2, 479
64
65
-150
-151
417
391
-972
-369
-614
525
217
-69
217
-190
217
-468
216
326
66
67
121
254
-33
-395
254
642
355
-68
322
612
255
-179
-62
70
-243
-732
-103
93
-211
-558
-87
45
-309
-829
310
467
127
-252
487
368
20
-383
620
781
412
-5
857
867
461
57
859
900
505
61
267
386
-3
-474
68
69
70
71
904
-539
-137
-1,960
-571
358
-1,076
1,380
-48
-1,109
-299
-718
-686
1,122
-154
-843
264
2,746
805
1,066
584
1,248
824
2,306
72
73
-1
-1
-1
SURVEY OF CURRENT BUSINESS
38
June 1976
Table 2.—U.S. International Transactions,
[Millions
19 71
(Credits*; debits-)'
Line
I
I
3
4
5
g
7
3
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
U
12
13
Receipts of income on U.S. assets abroad:
Direct investments * '
Other private receipts
TJ S Government receipts
-
---
-
Transfers of goods and services under U S military grant programs, net
15
Imports of goods and services
17, 057
15 617
17 257
17 290
18 362
19 755
9 720
11 791
11 696
12 493
13 401
1,270
662
215
1,616
883
875
733
1 056
1 245
982
1 290
976
- -- -
-15,636
— 16,717
-17,095
— 16,423
— 19 056
— 18 957
— 19 613
—20, 993
- ..
-- -- - --
— 10,765
-- — 1, 174
--- -1,083
—275
-755
—29
—27
—223
...
— 174
—11,722
— 1,206
-1,078
—332
—795
— 11 948
-1,203
-1,059
—315
—812
—27
—29
— 11 144
— 1,236
-1, 153
—368
—716
—30
—32
—32
—35
— 13 489
— 1,222
-1,232
—377
—857
— 14 027
— 1 105
— 1,250
—401
—850
—34
—36
—43
—38
—232
— 188
—240
— 193
—240
— 191
—254
— 192
— 13 296
—1,272
-1, 231
—395
—827
— 39
— 34
—257
—203
—248
—200
—258
— 193
— 157
—638
—336
—146
—560
—402
— 176
— 573
—514
— 142
—574
—592
— 157
— 161
—601
—641
— 155
—636
—680
—214
—671
—727
- -- -
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 assets in the United States:
Direct investments 4 6
Other private payments
U S Government payments
- -- --
-.
-
--
--
--
-
16
17
18
19
20
21
22
23
24
IV
III
11 646
-
14
II
16, 656
-
--
I
10, 965
-_
-- -
IV
16,285
-- -
III
10, 988
507
623
153
817
457
155
350
88
Exports of goods mid services ^
2
II
19'72
-
--
.- --
-. --
--
506
609
148
851
469
155
372
92
643
230
494
624
147
864
473
154
397
82
1,312
652
212
419
678
167
745
528
153
421
85
1 785
684
232
332
673
161
840
506
157
438
85
281
695
171
854
517
161
441
87
255
713
170
899
537
166
440
94
1 337
1 492
1 654
1 933
707
230
703
192
751
190
788
184
—38
—31
571
627
295
736
197
962
555
171
445
88
—14 985
—1, 185
-1,329
—423
—927
13
28
U S military grants of goods and services, net
—883
—875
—733
— 1 056
— 1 245
—982
— 1 290
—976
29
Unilateral transfers (excluding military grants of goods and services), net
—825
—894
—980
— 1 004
—999
—978
—965
—906
—439
— 124
—262
—486
— 142
—266
—550
— 138
—292
—568
— 138
—298
586
573
— 142
—271
—558
— 142
—278
— 121
—271
—457
— 166
—283
—2, 102
—2 064
—2 671
—2 757
—2 709
—1 150
—2 983
—3, 402
682
109
—55
255
373
659
456
17
252
—66
1,194
-187
1
-231
-55
3
-111
300
—29
851
72
429
544
— 182
—178
— 171
—177
—8
2
_1
64
— 177
185
—245
—15
134
—16
82
-355
—929
—211
—794
—271
—853
—518
—977
-566
—1 194
540
43
538
44
435
24
573
55
—2, 725
—760
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
-- --
-
---
U S. assets abroad net (increase/capital outflow (— ))
34
35
36
37
38
U.S. official reserve assets, net 6 _
Gold
-Special drawing rights
Reserve position in the International Monetary Fund
Foreign currencies
39
40
41
42
U S Government assets, other than official reserve assets, net
U S loans and other long-term
assets
Repayments on U S. loans 7
U S foreign currency holdings and U.S. short-term assets, net
-573
—1 130
573
— 16
—567
—1 227
—387
—894
541
119
477
30
525
49
43
44
45
U S private assets net
Direct investments abroad 6
Foreign securities . _ ..
U.S. claims on unaffiliated foreigners reported by U.S. nonbanking concerns:
Long-term
Short-term - - .
. --U.S. claims reported by U.S. banks, not included elsewhere:
Long-term
-- Short-term
-- -
—2 211
—1 202
-408
—2 156
— 1 299
—368
—3 478
—1 406
-346
—2 215
—831
—2 927
—1 121
—476
—648
—335
-318
—2 410
—1 315
9
203
-28
-33
1
-37
-99
—74
-64
20
46
47
48
49
50
Foreign assets in the United States net (increase/capital inflow (+))
51
52
53
54
55
56
57
Foreign official assets in the United States, net .
U.S. Government securities8
..
U.S. Treasury securities
- - -- -Other 9
10
Other U.S. Government liabilities
U.S. liabilities reported by U.S. banks, not included elsewhere
Other foreign official assets n
58
59
60
61
Other foreign assets in the United States net
Direct investments in the United States 5
U.S. Treasury securities
U.S. securities other than U.S Treasury securities
--
.
}
.
-
.
- ---
62
63
U.S. liabilities to unaffiliated foreigners reported by U.S. nonbanking concerns:
Long-term
Short-term
64
65
U.S. liabilities reported by U.S. banks not included elsewhere:
Long-term
Short-term
66
67
Allocations of special drawing rights
Statistical discrepancy (sum of above items with sign reversed)
Of which seasonal adjustment discrepancy
68
69
70
71
Memoranda:
Balance on merchandise trade (lines 2 and 16) 12
Balance on goods and services (lines 1 and 15)
Balance on goods services and remittances (lines
69 31 and 32)
Balance on current account (lines 69 and 29) 12
72
73
Transactions in U.S. official reserve assets and in foreign official assets in the United States:
Increase (— ) in U S. official reserve assets net (line 34)
Increase (+) in foreign official assets in the United States (line 51 less line 55)
67a
See footnotes pages 50-51.
. --
--
---
.
-322
-132
-300
-307
-174
-121
-261
-125
-255
15
-247
-1,142
-227
-760
-189
—893
-346
—261
-153
—205
-360
-697
-412
-1, 145
6,190
536
2,993
4 925
8,612
5,915
4 564
4,007
6,366
5,157
5,557
10, 396
5,785
3,044
990
4,878
(ls)
(15)
(15)
(15)
(15)
—2
—79
-2
-13
is 5, 238
is 5, 572
—2 164
-632
118
179
559
203
-2
-223
ts 10, 621
1,793
2
-197
is 5, 984
236
-89
25
136
-2
141
is 2, 897
15829
is 4, 677
62
18
C/15\
;
-2
195
is 1, 477
123
130
160
1,520
-221
3,017
1,488
4,397
156
-12
718
1,769
/i e\
C15)
(15)
1,862
-1,784
-437
-794
-1,269
196
626
908
1,059
216
-83
961
—265
45
-79
-89
168
225
161
-59
45
208
42
260
-44
185
178
-152
—2, 806
-61
-71
-1,187
34
-89
200
499
83
-2,579
1,590
-73
483
2,033
-16
-3
229
64
-61
180
179
179
179
177
177
-2,085
-5, 102
-1,527
178
765
178
-895
-390
-1,344
-821
223
649
263
-757
-302
-1,534
-1,251
-1,643
-2, 216
-1,584
-1, 238
-1, 687
-2, 144
-55
-111
1,598
-61
-38
-469
-955
-468
-1,018
-1,424
-806
-1,242
-1,810
-1,698
-1,799
-2,212
-2, 798
-1,600
-1,667
-2, 087
-2, 645
682
659
-187
5,982
-231
5,570
1,194
10, 619
429
5,236
3,133
-176
854
4,737
SURVEY OF CURRENT BUSINESS
June 1976
39
Seasonally Adjusted—Continued
of dollars]
1973
I
II
22,342
1974
III
24, 166
I
IV
1975
III
II
IV
1976
Line
I
II
III
IV
IP
26,308
29,340
33,382
35,667
37,234
38,491
36,945
35,767
37,098
38,600
38,596
1
22, 460
638
972
270
1,301
706
186
538
94
24,212
683
969
267
1,418
738
187
550
93
25, 036
781
1,021
278
1,413
789
189
568
113
26, 602
850
1,070
289
1,526
837
189
595
113
27,020
915
1,165
258
1,405
864
189
647
106
25, 848
807
1,177
228
1,373
877
189
677
117
26, 610
978
1,260
290
1,412
881
190
709
108
27,655
1,197
1,274
288
1,537
904
190
745
101
26, 939
1,158
1,319
276
1,503
892
193
768
129
2
3
4
5
6
7
8
9
10
4,567
1,421
229
4,457
1,802
291
4,729
2,057
260
4,096
2,076
248
2,180
1,957
239
2,336
1,857
281
2,464
1,876
320
2,476
1,954
279
3,008
2,093
318
11
12
13
564
352
496
797
1,202
56
177
50
14
-35, 613
-37,449
-37,562
-34,350
-30,716
-32,813
-34,264
-37,538
15
-28,000
-1,319
-1,552
-596
-1,600
-48
-45
-300
-231
-25, 585
-1,317
-1,593
-547
-1,375
-71
-46
-319
-245
-22, 598
-1, 185
-1,472
-543
1,261
-60
-47
-329
-278
-24, 511
-1,093
-1,605
-609
-1,316
-54
-49
-341
-257
-25, 456
-1, 185
-1,747
-681
-1,421
-56
-51
-362
-266
-28, 447
-1, 162
-1,698
-661
-1,511
-74
-52
-378
-265
16
17
18
19
20
21
22
23
24
-1, 038
-1,698
-1, 135
-490
-1,538
-1, 224
-469
-1, 375
-1,099
-557
-1,296
-1, 125
-611
-1,334
-1,094
-805
-1,380
-1, 105
25
26
27
15, 417
347
836
230
1,047
608
172
474
88
16, 960
455
817
236
1,072
574
176
482
90
18, 463
531
860
258
1,140
678
180
492
130
20, 570
1,009
899
251
1,175
653
184
513
91
2,010
879
234
2,092
1,002
210
2,223
1,151
202
2,516
1,298
181
723
868
785
433
406
-24,070
-24,823
-26,569
-30,563
-17,208
13 -1,231
-1,394
-449
-1, 110
-49
-43
-284
-206
-17,742
-1,067
-1,375
-439
-1, 182
-46
-46
-286
-227
-19, 189
-1,162
-1,419
-437
-1, 224
-58
-47
-300
-222
-22, 605
-1, 153
-1,445
-482
-1,296
-60
-48
-305
-236
-25, 700
-1,298
-1,499
-504
-1,444
-54
-47
-302
-252
-27,374
-1, 265
-1,484
-513
-1,486
-50
-46
-295
-247
-185
-942
-969
-330
-1,080
-1,003
-310
-1, 200
-1,001
-634
-1,298
-1,001
-1,925
-1, 538
-1,050
-1, 898
-1,715
-1, 076
-723
-868
-785
-433
-406
-564
-352
-496
-797
-1,202
-56
-177
-50
28
-759
-1, 029
-909
-1, 187
14 -2,977
-1,850
-1,261
-1,098
-1,179
-1, 146
-1,044
-1,251
-1,138
29
-361
-172
-226
-621
-171
-237
-494
-179
-236
-463
-172
-552
w -2, 606
-107
-264
-1, 399
-189
-262
-811
-204
-246
-660
-194
-244
-748
-200
-231
-712
-197
-237
-615
-203
-226
-818
-214
-219
-658
-222
-258
30
31
32
-6,563
-2,432
-1,569
-5,872
-7,915
-10,013
-5,210
-10,252
-8,001
-7,943
-4,223
-10,964
-9,512
33
220
17
-13
-15
-210
-358
-1,003
137
-325
-29
-342
89
-773
9
8
-13
-15
-209
—1
—29
-244
—85
—123
-728
— 152
—20
-84
241
—4
-307
—14
—16
-7
—6
-25
-95
-222
-21
-57
167
-45
-237
-491
34
35
36
37
38
-22,789
-16,360
-1, 169
-1,338
-465
-1,075
-56
-40
-280
-207
-130
-806
-863
-13
233
(*)
(*)
-574
-1, 177
694
-91
-423
-1,222
789
10
-608
-1,207
558
41
-1,042
-1,034
555
-563
14 1, 389
-1, 191
14 2, 788
14 -208
267
-1, 212
864
615
-354
-1,053
575
124
-937
-1,545
598
10
-899
-1,512
609
4
-840
-1,476
618
18
-772
-1,445
650
23
-952
-1,503
599
-48
-674
-1,376
717
-15
39
40
41
42
-6,209
-2, 467
55
-2, 027
-975
-86
-948
-549
-196
-4, 814
-977
-445
-9, 094
-1,137
-600
-9, 922
-1,485
-272
-3, 854
-1,900
-282
-9,453
-3, 231
-699
-6, 777
-1,510
-1,928
-7, 074
-2,334
-979
-3, 109
-770
-938
-10, 101
-1,694
-2, 361
-8, 065
-1,580
-2, 507
43
44
45
-136
-673
-50
-152
-155
-347
-55
-810
-128
-1,985
(*)
-588
-138
411
-208
-585
22
341
55
4
-139
-833
-322
-437
-84
-180
46
47
-273
-2, 715
-326
-437
176
123
-510
-2, 018
-178
-5, 066
-913
-6,664
88
-2, 032
-180
-4, 549
-441
-3, 261
-381
-3, 439
-586
157
-943
-4, 344
-245
-3, 469
48
49
10,537
2,863
2,700
2,420
5,906
11,049
7,612
7,867
2,837
3,907
2,400
5,736
5,018
50
9,990
8,537
7,812
726
217
997
239
-344
-2, 558
-2, 746
188
442
1,688
84
-692
-1, 548
-1,550
2
199
657
-2, 655
-3, 735
-3, 401
-334
296
784
-1,072
-1,122
-893
-229
66
-22
6
4,648
3,085
2,948
136
158
1,341
64
3,149
-514
-905
391
418
3,246
_1
4,256
2,736
2,132
604
82
1,253
185
3,402
5,792
5,298
494
444
-3, 203
369
2,331
883
818
65
418
591
439
-1, 985
-2, 855
-2, 880
25
371
17
482
2,587
1,383
1,076
307
499
121
584
3,325
1,778
1,713
65
1,469
-571
649
51
52
53
54
55
56
57
547
371
-118
1,718
3,207
583
-185
489
3,392
990
-204
1,173
5,075
711
293
662
6,977
1,309
136
712
6,401
1,712
-240
363
4,462
31
200
227
3,611
-307
601
-925
-565
476
752
344
1,576
780
-423
385
4,384
-48
2,158
781
3,148
1,229
162
1,217
1,693
-689
451
1,026
58
59
60
61
244
2
60
-6
182
272
-188
469
-41
395
-364
754
-160
399
353
279
357
-35
77
-19
-99
-42
-22
-139
-170
194
62
63
153
-1,823
78
2,187
28
951
-32
3,160
155
4,311
7
4,169
-40
3,805
-113
3,723
-45
-2, 414
-287
1,063
-114
1,748
91
611
166
715
64
65
-2,769
699
503
-149
-1,707
-1, 671
1,868
1,123
2,167
1,191
761
-235
-925
-2,498
2,554
1,542
3,748
1,330
131
-37
-1,417
-2,565
2,143
1,275
4,574
1,357
66
67
67a
-943
-447
-845
-1,206
-248
96
-312
-933
721
1,485
1,070
576
1,381
2,771
2,047
1,584
-145
2,819
2,448
-158
-1,488
54
-397
-1,796
-2,338
-215
-665
-1,476
-1,398
929
491
-169
1,435
2,595
2,164
1,416
3,250
5,051
4,617
3,905
2,099
4,285
3,856
3,241
2,199
4,336
3,903
3,085
-1, 508
1,058
578
-80
68
69
70
71
220
9,774
17
-786
-13
-891
-15
-2,951
-210
-1,138
-358
4,490
-1,003
2,731
137
4,174
-325
2,958
-29
1,913
-342
-2,356
89
2,088
-773
1,856
72
73
SUEVEY OF CUKRENT BUSINESS
40
June 1976
Table 3.—U.S. Merchandise
[Millions
Line
A
1970 B
1967
1968
1969
31,030
34,063
37,332
75
18
5
216
78
31
8
228
77
26
3
242
-704
-914
-1,193
26
132
—73
45
-3
—51
103
116
236
30,666
33, 626
36, 414
42,469
43,319
49,381
71, 410
98,310
107,133
26, 889
33, 226
36, 043
39, 952
45, 563
55, 583
69, 476
100, 252
96, 140
68
176
-162
-201
96
108
211
-300
-249
-5
168
221
-354
-237
-34
242
162
-303
-179
-8
386
240
-463
-185
38
423
367
-528
-189
141
641
514
-205
-310
383
1,927
966
178
-335
691
1,938
330
-179
-238
159
26,866
32,991
35,807
39,866
45,579
55,797
70,499
103,679
98,150
30, 666
33, 626
36, 414
42, 469
43,319
49,381
71,410
98,310
107, 133
9,668
10, 539
11, 626
14, 162
13, 580
14, 957
1,914
5,440
2,314
2,027
5,991
2,521
2,069
6,804
2,753
2,543
8,299
3,320
2,405
8,003
3,172
2,729
8,611
3,617
21, 231
16, 730
3,759
12, 403
4,501
28, 205
21, 791
4,706
16, 539
6,414
29,850
22, 816
4,911
17,290
7,034
204
7,301
4,671
239
8,157
5 296
267
9,114
5,541
387
9,478
6,514
429
10, 927
6,462
893
13, 109
7,227
2,035
16, 710
9,960
1,696
21,846
15, 820
3,276
23,537
17, 123
2,665
1,275
4,882
2,950
1,400
5,045
3,505
1,355
5,006
4,650
1,593
5,685
4,053
1,693
6,175
4,963
1,542
6,690
8,356
2,247
10, 871
10, 724
3,757
16, 262
9,570
3,509
20, 268
1971
1972
1973
42,659
43,549
49, 199
70,823
97,908
107,191
83
17
4
248
522
-1, 109
82
26
25
275
556
-1, 191
80
25
28
331
608
-839
85
65
50
404
1,158
-1, 278
94
45
89
557
1,254
-1, 753
92
62
459
601
1,112
-2,620
1974 B
1975
Balance of payments adjustments to Census trade data:
EXPORTS
1
1 Merchandise exports, Census basis, including reexports and excluding military grant
shipments.
Adjustments:
2
3
4
5
6
7
g
9
10
Private gift parcel remittances _ _ -_
Virgin Island exports to foreign countries
Gold exports nonmonetary
_. .
.
.
Inland U.S freight to Canada
... - ... --- - ... ..
U S -Canadian reconciliation adjustments, n.e.c. , net 2
-..
Merchandise exports transferred
under U.S. military agency sales contracts identified in Census documents 3
Other adjustments net *
Of which, quarterly allocation of annual seasonal adjustment discrepancy 5
Equals: Merchandise exports, adjusted to balance of payments basis, excluding
"military" (table 1, line 2).
IMPORTS
11
Merchandise imports, Census basis * (general imports)
Adjustments:
12
13
14
15
16
17
18
Virgin Islands imports from foreign countries . _ . . . .
Gold imports nonmonetary
U S -Canadian reconciliation adjustments n.e.c., net 2
Merchandise exports of U.S.
military agencies identified in Census documents 3 _. .
Other adjustments, net 6..
._. ..
..
Of which quarterly allocation of annual seasonal adjustment discrepancy 5
Equals: Merchandise imports, adjusted to balance of payments basis, excluding
"military" (table 1, line 16).
Merchandise
trade, by area, adjusted to balance of payments basis, excluding military: 7
EXPORTS
1 Total, all countries (A10)
B
2
3
4
5
6
Western Europe.
. . .
EC (9)
United Kingdom
EC (6)
Western Europe, excluding EC (9)
7
8
9
Eastern 2Europe
Canada
Latin American Republics and Other Western Hemisphere
10
11
12
-
-.
-
Japan...
.
Australia, New Zealand and South Africa Other countries in Asia and Africa
.
-
..
-
--- ..
- --
13
14
Total, all countries (A 18)
IMPORTS
15
16
17
18
19
Western Europe
EC (9). ._
United Kingdom
EC (6)
Western Europe excluding EC (9)
--
20
21
22
23
24
25
Eastern 2Europe
Canada
Latin American Republics and Other Western Hemisphere
Japan
Australia, New Zealand and South Africa
Other countries in Asia and Africa
.
26
Seasonal adjustment discrepancy (B 1£ less B 15 20-%5)
-
-
26, 866
32, 991
35, 807
39, 866
45, 579
55,797
70,499
103,679
98, 150
-
8,110
10 214
10, 238
11, 294
12,813
15, 661
-
1,705
4,498
1,907
2 075
5,924
2 215
2,112
5,851
2,275
2,214
6,674
2,406
2,477
7,600
2,736
2,946
9,126
3,589
19, 774
15, 816
3,527
11, 619
3,958
24,267
19,244
4,123
14, 398
5,023
20,763
16,513
3,737
12, 145
4,250
180
6,861
4,651
205
8 597
5,138
199
9,940
5,217
218
10, 696
5,912
225
12, 214
6,116
363
14,493
7,066
601
17,694
9,644
977
22,398
18,658
736
21,772
16,184
3 034
804
3 226
4 079
924
3 834
4 893
1,059
4,261
5 894
1,128
4,724
7,278
1,158
5,775
9,076
1,413
7,725
9,665
1,852
11,269
12,414
2,019
22,946
11,257
2,242
25,196
3,800
1,558
635
325
607
1,388
2,603
2,868
-2,260
767
-6,416
-704
209
942
407
—48
67
306
—43
953
478
329
1 625
914
-72
403
436
-217
-515
28
911
1,457
914
232
784
543
-5,369
3,938
2,547
583
2,141
1,391
8,983
9,087
6,303
1,174
5,145
2,784
24
440
20
34
—440
158
68
—826
324
169
—1 218
602
204
-1,287
346
530
-1,384
161
1,434
-984
316
719
-552
-2,838
2,540
1,765
939
—1 129
476
1 211
—1 388
296
745
-1 244
465
961
-3, 225
535
400
-4, 113
129
-1,035
-1,309
395
-398
-1,690
1,738
-6,684
-1,687
1,267
-4,928
--
.
. . . . .
BALANCE (EXCESS OF EXPORTS +)
27
28
29
30
31
32
Total, all countries
Western Europe
EC (9) . .
United Kingdom
EC (6)
Western Europe, excluding EC (9)
...
33
34
35
Eastern Europe
Canada 2 . .
Latin American Republics and Other Western Hemisphere
36
37
38
Japan
Australia, New Zealand and South Africa
Other countries in Asia and Africa
39
Seasonal adjustment discrepancy (B 13 less B 26)
See footnotes on pages 50-51
... ... .
—369
471
1 656
June 1976
SUKVEY OF CURRENT BUSINESS
41
Trade
of dollars]
Seasonally adjusted
Not seasonally adjusted
1974
I
II
1975
III
IV
I
II
22,615
25,128
23, 194
26,971
27,035
19
10
21
123
286
-350
20
15
30
148
317
-469
20
8
14
137
280
-436
35
12
24
149
371
-498
21
14
203
140
269
-510
26,548
18
17
127
160
359
-436
1976
1975
1974
I
II
III
26,508
26,813
25,585
27,019
27,884
26,859
1
20
8
14
145
280
-436
35
12
24
148
371
-498
21
14
203
144
269
-510
18
17
127
148
359
-436
17
13
78
154
171
-752
36
18
51
155
313
-922
28
19
29
159
383
-735
2
3
197
III
IV
25,072
28,536
27,340
22,324
24,077
25,086
17
13
78
145
171
-752
36
18
51
156
313
-922
28
19
29
156
383
-753
19
10
21
127
286
-350
20
15
30
137
317
-469
IP
I
II
Line
1976
III
IV
IP
IV
4
5
6
7
43
106
-59
26
93
57
-62
148
197
22, 767
25,295
23, 158
27, 090
27,265
26,850
24,682
28,336
27, 417
23
-20
22, 460
85
-21
24,212
-81
-22
25,036
2
-24
26,602
66
-27
27, 020
30
-27
25,848
-90
-28
26,610
120
-28
27,655
26, 939
8
9
10
21,039
25,671
26,423
27, 119
24,391
22,837
23,601
25,311
27,319
21,558
24,868
26,885
27,003
25,030
32,328
23,914
24,900
27,723
11
378
175
161
-57
405
443
164
35
-66
271
557
131
84
-132
-135
549
496
-102
-80
150
565
52
39
-75
-18
373
50
-111
-28
-6
50S
104
-68
-55
116
492
124
-39
-80
67
609
105
-25
-62
97
26,518
26,928
28, 132
24,954
23, 115
24,206
25,875
28,043
443
164
35
-66
256
-15
25,700
557
131
84
-132
-151
-16
27,374
549
496
-102
-80
134
-16
28,000
565
52
39
-75
-26
-8
25,585
373
50
-111
-28
-14
-8
22,598
508
104
-68
-55
103
-8
24,511
492
124
-39
-80
59
-8
25,456
609
105
-25
-62
97
22, 101
378
175
161
-57
390
-15
22,605
28,447
12
13
14
15
16
17
18
22,767
25,295
23, 158
27,090
27,265
26,850
24,682
28,336
27,417
22,460
24,212
25,036
26,602
27,020
25,848
26, 610
27,655
26,939
1
6,873
5,224
1,096
3,975
1,649
7,527
5,821
1,204
4,491
1,706
6,181
4,870
1,067
3,678
1,311
7,624
5,876
1,339
4,395
1,748
8,465
6,413
1,482
4,798
2,052
7,056
5,317
1,172
3,996
1,739
6,504
4,993
1,103
3,735
1,511
7,825
6,093
1, 154
4,761
1,732
7,508
5,882
1,125
4,595
1,626
6,571
5,054
1,079
3,845
1,517
7,231
5,625
1,202
4,290
1,606
6,896
5,345
1,153
4,043
1,551
7,507
5,767
1,272
4,361
1,740
7,844
6,034
1,409
4,504
1,810
6,888
5,209
1,186
3,868
1,679
7,449
5,630
1,213
4,238
1,819
7,669
5,943
1,103
4,680
1, 726
6,944
5,514
1,070
4,294
1,430
2
3
4
5
6
435
4,896
3,285
468
5,724
4,069
292
5,126
3,967
501
6,100
4,499
652
5,484
4,243
592
6,330
4,382
687
5,419
4,029
1,345
6,304
4,469
1,009
6,408
4,172
410
4,932
3,478
460
5,186
3,980
326
5,631
4,019
500
6,097
4,343
609
5,592
4,424
569
5,788
4,269
829
6,016
4,140
1,269
6,141
4,290
946
6,545
4,351
7
8
9
2,693
820
3,765
2,598
909
4,000
2,523
998
4,071
2,910
1,030
4,426
2,611
844
4,966
2,358
863
5,269
2,264
830
4,949
2,337
972
5,084
2,403
906
5,011
2,537
808
3,669
2,586
957
3,846
2,708
968
4,299
2,893
1,024
4,448
2,461
857
4,843
2,376
884
5,114
2,404
835
5,163
2,329
933
5,148
2,261
1,004
4,884
10
11
12
55
-34
189
390
-40
-226
-124
4
13
-210
22, 101
26,518
26,928
28, 132
24,954
23,115
24,206
25,875
28,043
22,605
25,700
27,374
28,000
25,585
22,598
24,511
25,456
28,447
14
5,481
4,370
876
3,290
1,111
6,379
5,109
1,100
3,819
1,270
5,815
4,654
1,045
3,452
1,161
6,592
5,111
1,102
3,837
1,481
5,650
4,539
1,033
3,363
1,111
4,904
3,918
912
2,858
986
4,744
3,768
851
2,777
976
5,465
4,288
941
3,147
1,177
5,519
4,195
969
3,046
1,324
5,552
4,431
933
3,290
1,121
6,273
5,052
1,045
3,819
1,221
5,907
4,690
1,072
3,452
1,217
6,535
5,071
1,073
3,837
1,464
5,707
4,584
1,076
3,363
1,123
4,849
3,881
876
2,858
968
4,840
3,809
882
2,777
1,031
5,367
4,239
903
3,147
1,128
5,576
4,237
1,010
3,046
1,339
15
16
17
18
19
281
5,075
4,481
254
5,775
4,748
198
5,498
4,475
244
6,050
4,954
204
5,176
4,209
153
5,483
4,020
173
5,165
4,225
206
5,948
3,730
199
5,927
4,172
281
4,963
4,155
254
5,529
4,804
198
5,932
4,655
244
5,974
5,044
204
5,147
3,969
153
5,241
4,112
173
5,657
4,352
206
5,727
3,751
199
5,924
3,941
20
21
22
2,505
468
3,810
2,929
466
5,967
3,450
501
6,991
3,530
584
6,178
3,098
516
6,101
2,589
564
5,402
2,716
593
6,590
2,854
569
7,103
3,471
553
8,202
2,646
534
3,749
2,957
464
6,059
3,299
447
6,890
3,512
574
6,248
3,245
573
5,889
2,641
573
5,665
2,604
563
6,538
2,767
533
7,104
3,638
613
7,942
23
24
25
725
—640
46
—131
851
—636
—216
1
614
26
666
1,392
854
220
685
538
-1,223
1,148
712
104
672
436
-3,770
366
216
22
226
150
-1,042
1,032
765
237
558
267
2,311
2,815
1,874
449
1,435
941
3,735
2,152
1,399
260
1,138
753
476
1,760
1,225
252
958
535
2,461
2,360
1,805
213
1,614
555
-626
1,989
1,687
156
1,549
302
-145
1,019
623
146
555
396
-1,488
958
573
157
471
385
-2,338
989
655
81
591
334
-1,398
972
696
199
524
276
1,435
2,137
1,450
333
1,141
687
3,250
2,039
1,328
310
1,010
711
2,099
2,609
1,821
331
1,461
788
2,199
2,302
1,704
200
1,533
598
-1,508
1,368
1,277
60
1,248
91
27
28
29
30
31
32
154
-179
-1,196
214
-51
-679
94
-372
-508
257
50
-455
448
308
34
439
847
362
514
254
-196
1,139
356
739
810
481
0
129
-31
-677
206
-343
-824
128
-301
-636
256
123
-701
405
445
455
416
547
157
656
359
-212
1,063
414
539
747
621
410
33
34
35
188
352
-45
-331
443
-1,967
-927
497
-2, 920
-620
446
-1,752
-487
328
-1,135
-231
299
-133
-452
237
-1,641
-517
403
-2,019
-1,068
353
-3, 191
-109
274
-80
-371
493
-2,213
-591
521
-2,591
-619
450
-1,800
-784
284
-1,046
-265
311
-551
-200
272
-1,375
-438
400
-1,956
-1,377
391
-3,058
36
37
38
—670
606
US
—79
—461
696
—10
—125
—610
39
SUEVEY OF CUKRENT BUSINESS
42
June 1976
Table 3.—U.S. Merchandise
[Millions
Line
C
1967
1968
1969
30 ggg
33 626
36 414
6 449
24 217
6 294
27 332
6 096
30 318
4 999
4 909
2 997
'773
4 806
4,724
2 821
10 002
1 476
8 526
1 164
1974 B
1971
1972
1973
42 469
43 319
49 381
71 410
98 310
107 133
7,374
35 095
7,830
35 489
9 514
39 867
17 978
53 432
22 413
75 897
22, 265
84 868
4 694
4 688
2 524
820
5,864
5,745
3 072
1 210
6 098
5,956
2 975
1 340
7 493
7 322
4 033
1 511
15
14
9
2
185
881
682
772
18 608
18 330
11 592
3 539
19
18
12
2
11, 054
1 500
9 554
1,098
11, 811
1 433
10 378
1 231
13, 891
1 526
12 365
1,703
14 096
2 094
12 002
1 710
20 036
2 916
17 120
1 952
30 648
3 821
26 827
3 600
30, 779
3 161
27 618
4 749
1970*
1975
Merchandise trade, by principal end-use category, adjusted to balance of payments
basis, excluding military:
EXPORTS
1 Total (A10)
2
3
4
5
6
7
Agricultural goods _
Nonagricultural goods
_
-
..-
Foods, feeds, and beverages
Foods, feeds, and beverages— agricultural
Grains
Soybeans
.
...
804
221
894
655
876
g
9
10
11
12
Industrial supplies a n d materials
Agricultural
Nonagricultural
Fuels and lubricants
Petroleum and products '
553
471
478
521
12,800
1 786
11 014
1,709
517
494
553
864
13
Capital goods, except automotive
9 934
11 111
12 369
14 588
15 302
16 816
21 g48
30 410
35 831
14
15
16
17
18
19
Machinery except consumer-type
Civilian aircraft complete-all types
Other transportation equipment
Automotive vehicles
parts and engines
To Canada 9
To all other areas
8 115
8 642
1,405
9 992
1 266
11 707
1,528
11 704
1,918
13 070
1 675
17 332
2 315
24 191
3 395
29 113
3 222
5 485
4 267
1 218
6 878
5 251
1 627
8 625
6 205
2 420
10 628
7 085
3,543
20
21
Consumer goods (nonfood) except automotive
All other, including balance of payments adjustments, not included in lines C4-20-.
6 382
3,637
6 547
4,127
22
Seasonal adjustment discrepancy (Line Cl less lines C4, 8, 13, 17, 20, and 21}
103, 679
98, 150
10 395
93 284
9,524
88 626
__
_ _ .
..
-
-.
..
790
205
--
124
143
221
3,870
2,692
317
374
453
2 784
1 755
1,029
3 453
2,378
1,075
3 888
2 736
1,152
1,178
4 698
3,512
1,186
2 111
836
2,334
868
2 576
1,076
2,783
1,473
2,898
1,523
3 565
1,926
4 791
2,672
26,866
32, 991
35,807
39,866
45, 579
55 797
7rt 4QQ
4,472
22 394
5,057
27, 934
4,954
30 853
5,667
34, 199
5, 775
39 804
6 520
49 277
8 4R9
590
999
778
IMPORTS
23
24
25
Total (A18)
Agricultural goods
Nonagricultural goods
-.
-
.- -
- -
-
.
- - -
26
Foods, feeds, and beverages
27
28
29
Industrial supplies and materials
Fuels and lubricants
Petroleum and products 8
--
30
31
32
Capital goods except automotive
Machinery except consumer-type
Civilian aircraft engines, parts
33
34
35
Automotive vehicles parts and engines
From Canada
From all other areas
36
Consumer goods (nonfood), except automotive . -- - -- - All other, including balance of payments adjustments not included in lines C 25-35. .
19Q
10 585
9,684
9O 91 1
8 QA7
54 689
27 490
26 592
51 371
28,519
27 018
4,586
5,271
5,239
6,156
6,375
7 272
12 047
2,237
2 091
14, 411
2,539
2 384
14 447
2,847
2 649
15,444
3,175
2 929
17, 527
3,974
3 649
21 064
5 101
4 651
2 454
2 324
2 840
2 652
3 279
3 102
129
188
177
4 004
3 813
4 287
4 061
2,442
1,407
1,035
3,956
2,279
1,677
4 934
3 082
1,852
5 570
3,201
2,369
7 425
4,040
3,385
5 0AA
5 3^3
477
8 755-1
4 713
4 068
4,213
1,124
5,375
1,138
6 616
. 1, 292
7,580
1,112
8,579
1,386
11 377
1 Merchandise exports Census basis, including military grant shipments (Al)
31, 622
34, 636
38 006
43, 224
44 130
49 759
2
3
4
6,448
25 174
24,582
6,301
28 335
27, 762
6 090
31 916
31 242
7,349
35 875
35, 310
7 786
36 344
35 763
9 505
40 254
39* 695
4,998
2,997
772
1,230
4,813
2,822
4 688
2 516
1,182
1 350
5,839
3,071
1,216
1,552
6 054
2,968
1,327
1 759
7 489
4 054
1 508
1 927
9 971
1,150
11 004
1,081
11 776
l'220
13 782
1,701
1 139
1 051
12 691
1,700
1 089
1 303
•19 QQft
3 052
2 646
2 984
2 707
3 227
3 303
4 /100
4 70Q
547
263
953
281
990
fide
925
1 554
2 960
9 871
37
-.-.
..
-
.
.. .
-
- -
__. .
--
-
-
--
191
226
1,503
9
9 544
8 908
9 686
9 139
A1 Q
636
547
QQO
12 079
5 673
6 406
11 848
5 927
5,921
1,490
14 786
1,996
13 739
1,822
98 507
107, 652
22 260
76 247
75 648
22 097
85 555
85 094
18 459
11 551
3 537
3 371
19 052
12, 572
2,865
3 615
30 396
3 638
2 590
3 231
1 353
30 195
4,764
2 487
2 605
1 001
4
Seasonal adjustment discrepancy (Line C2S less lines C26, 27, 30, S3, 36, and 37)
38
Merchandise trade, by end-use category, Census basis,1 including military grant
shipments:
D
5
6
7
g
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
Agricultural products
Nonagricultural products
Excluding military grant shipments
- -
- -
Foods feeds and beverages
Grains and preparations
Soybeans
Other foods feeds and beverages
--
Industrial supplies andllmaterials
^^
Fuels and lubricants 12
Paper and paper base stocks
Textile supplies and materials
- - -Raw cotton including linters
Tobacco, unmanufactured
._
Chemicals excluding medicinals
Other nonmetals (hides tallow, minerals, wood, rubber, tires, etc.)
Steelmaking materials
Iron and steel products
Other metals primary and advanced including advanced steel 10
-
722
Capital goods except automotive
- . ..
Machinery, except consumer-type -_ _ .
Electrical and electronic, including parts and attachments _ ...
_.
Nonelectrical including parts and attachments
Construction machinery and nonfarm tractors
Textile and other specialized industry-machinery
- Other industrial machinery, n.e.c
-- - - Agricultural machinery and farm tractors _ - _
.._
..
..
Business and office machines, computers, etc
Scientific, professional, and service-industry equipment
Civilian aircraft, engines, parts.
Civilian aircraft complete all types
Other transportation equipment
See footnotes on pages 50-51.
. . ..-
466
524
2 313
2 073
2 764
2 266
2 741
2 405
324
702
275
741
1 156
1 503
1 127
1 543
9 913
8 115
1 426
6 689
1*396
11 072
8 642
1 557
7 085
1 526
12 346
9 991
1 856
8 136
1 680
14 371
11 570
2,077
9 493
1 963
2 886
3 062
3 443
3 925
448
842
445
412
900
476
3 870
1 225
358
361
1 702
1 701
1 614
2 327
1 405
2 235
1 266
470
498
- - --
_- . . . .
..
822
906
923
286
540
1,032
- -
810
673
790
184
828
1 022
709
103
371
770
418
599
120
378
488
1 388
1 769
907
693
589
462
1 230
15 119
11 593
2 110
9 482
1 888
886
722
2 660
1 528
3 282
1 qig
141
245
1 707
1 152
1 386
CrtQ
17 ftRO
9
9 7fi1
fi1 1\
2
1 926
1* d.^Q
2 9QQ
639
1 295
RQQ
681
9 fi1 R
2i
17
3
13
512
046
"S21
5^5
832
7 414
5 936
1 396
5 283
29 921
23 775
5 007
18 768
4 047
1 853
7 319
1 838
857
2 367
1 099
3 079
1 476
3 217
1 707
4 068
9 315
5 600
3 366
16
13
2
10
2
690
135
543
59"?
133
963
4 316
485
339
9* 788
663
398
994
546
852
7 367
5,652
847
2,890
2 732
35, 441
28,800
5,384
23 416
5 914
1,992
9,468
1,432
2 975
1,636
5,920
3,202
721
SURVEY OF CUREENT BUSINESS
June 1976
43
Trade—Continued
of dollars]
Not seasonally adjusted
1974
Seasonally adjusted
1975
I
II
III
22,767
25,295
23,158
27,090
27,265
26,850
24,682
5,918
16, 849
5,629
19, 666
4,607
18,551
6,259
20,831
6,395
20,870
4,757
22,093
4,800
19,882
4,844
4,771
3,013
1,062
4,575
4,513
2,830
897
3,870
3,794
2,559
500
5,319
5,252
3,190
1,080
5,462
5,399
3,640
893
4,005
3,940
2,595
494
6,747
1,093
5,654
504
180
8,078
1,058
7,020
855
218
7,766
745
7,021
1,006
227
8,057
925
7,132
1,235
239
8,040
933
7,107
1,176
240
IV
I
1974
1976
1975
1976
Line
IP
I
II
III
IV
I
II
III
28,336
27,417
22,460
24,212
25,036
26,602
27,020
25,848
26,610
27, 655
26,939
1
6,313
22, 023
5,702
21,715
5,802
16, 658
5,753
18,459
5,255
19,781
5,603
20,999
6.063
20,957
4,889
20,959
5,572
21,038
5,741
21,914
5,334
21,605
2
3
4,192
4,104
2,813
537
5,562
5,451
3,607
952
4,725
4,668
2,980
816
4,759
4,672
2,997
931
4,644
4.361
2,964
885
4,339
4,285
2,538
830
4,866
4,812
3,093
893
5,281
5,204
3,492
734
4,110
4,022
2,773
479
4,846
4,776
2,986
906
4,984
4,892
3,404
757
4,549
4,482
2,839
682
4
5
6
7
7,893
767
7,126
1,307
259
7,271
647
6,624
1,068
243
7,575
814
6,761
1,198
257
7,671
966
6,705
960
246
6,796
952
5,865
603
184
7,705
1,081
6,673
820
216
8,015
930
7,010
1,007
228
8,132
858
7,279
1,170
236
8,087
804
7,315
1,356
244
7,589
770
6,803
1, 225
257
7,484
813
6,640
1,059
244
7,619
774
6,860
1,109
254
7,701
830
6,902
1,111
250
8
9
10
11
12
II
III
IV
IV
IP
6,894
7,714
7,245
8,557
8,806
9,359
8,383
9,283
9,345
6,663
7,297
7,718
8,732
8,566
8,870
9,015
9,380
9,130
13
5,357
879
136
1,985
1,464
521
6,032
966
166
2,164
1,569
595
6,086
496
136
1,935
1,340
595
6,716
1,054
152
2,541
1,832
709
7,010
962
187
2,305
1,557
748
7,595
896
170
2,877
1,954
923
6,910
642
183
2,424
1,515
909
7,598
722
238
3,022
2,059
963
7,740
652
209
2,791
1,958
833
5,284
683
149
1,901
1,400
506
5,787
811
146
1,998
1,413
595
6,363
776
145
2,239
1,590
648
6,757
1,125
150
2,487
1,802
671
6,962
770
187
2,246
1,501
738
7.272
768
151
2,682
1,789
903
7,249
904
207
2,804
1,805
970
7,630
780
233
2,896
1,990
932
7,687
532
209
2,729
1,893
825
14
15
16
17
18
19
1,504
793
1,750
1,014
1,567
775
1, 561
1,055
1,555
1,097
1,641
1,075
1,593
819
1,758
1,136
1,902
983
1,525
837
1,632
926
1,608
813
1,617
1,061
1,567
1,145
1,527
984
1,651
865
1,802
1,133
1,921
1,022
20
21
-21
10
304
—293
128
86
—55
—159
-113
22
22,101
26,518
26,928
28, 132
24,954
23, 115
24,206
25,875
28,043
22,605
25,700
27,374
28,000
25,585
22,598
24,511
25,456
28,447
23
2,622
19, 479
2,690
23, 828
2,529
24, 399
2,554
25, 578
2,336
22, 618
2,355
20, 760
2,403
21, 800
2,427
23, 448
2,683
25, 380
2,622
19, 983
2,609
23,091
2,598
24, 776
2,566
25,434
2, 306
23, 279
2,282
20, 316
2,491
22, 020
2,445
23, Oil
2,624
25, 823
24
25
2,688
2,738
2,527
2,632
2,246
2,357
2,519
2,562
2,609
2,771
2,655
2,578
2,581
2,306
2,318
2,585
2,475
2,670
26
10, 561
5.247
5,087
13,712
7,133
6,948
14, 767
7,615
7,380
15, 649
7,4£5
7,177
14, 075
7,488
7,084
11, 837
6,191
5,858
12, 443
7,330
7,003
13, 016
7,510
7,073
14, 502
8,567
8,025
10, 302
4,742
4,582
13, 908
7,583
7,298
15, 030
7,784
7,549
15, 449
7,381
7,063
13, 795
6. 656
6, 552
12, 231
6,671
6,338
12,709
7, 510
7,183
12, 636
7, 382
6,945
14, 130
7,968
7,426
27
28
29
2,099
1,948
151
2,420
2, 239
181
2,505
2,329
176
2,520
2,392
128
2,427
2,283
144
2,439
2,274
165
2,294
2,185
109
2,526
2,397
129
2,558
2,446
112
2,086
1, 935
151
2,288
2,113
181
2,582
2,397
176
2,588
2,463
128
2,442
2,297
144
2, 343
2,192
165
2,358
2, 243
109
2,543
2,407
129
2, 576
2,463
112
30
31
32
2,978
1,362
1,616
3, 376
1,397
1,979
2,785
1,258
1,529
2,940
1,658
1,282
2,666
1,293
1,373
2,929
1,550
1,379
2,817
1,255
1,462
3,436
1,729
1,707
4,052
1,899
2,153
2,804
1,283
1,535
3,060
1, 253
1,816
3,289
1,590
1,683
2,926
1,547
1,372
2. 5Q4
1,277
1,295
2,6S4
1, 433
1,251
3,234
1,661
1,566
3,336
1, 553
1,809
3,974
1,888
2,054
33
34
35
3,089
686
3,685
587
4,168
176
3,844
547
3,128
412
3,131
422
3,620
513
3,860
475
3,860
462
3,294
690
3,711
590
3,916
183
3,865
533
3,409
416
3,204
424
3,386
520
3,740
462
4,209
465
26
37
658
—512
—204
58
623
QQQ
—281
26A
UUty
423
38
22,726
25,283
23,364
27, 134
27, 188
26,721
25,137
28,606
27,360
22, 436
24,231
25,256
26, 671
26,966
25, 758
27,084
27,954
26,879
1
5,890
16, 837
16, 725
5,570
19, 712
19, 558
4,534
18, 830
18, 660
6,266
20, 868
20, 705
6,347
20, 842
20, 689
4,693
22, 028
21, 855
4,792
20, 345
20, 280
6,265
22,340
22, 270
5,651
21, 709
21, 689
5,775
16, 640
16, 528
5,694
18, 515
18, 361
5,181
20, 053
19, 883
5,610
21, 039
20, 876
6,015
20, 924
20, 771
4,825
20, 906
20, 733
5,564
21, 492
21, 427
5,693
22,233
22,163
5,283
21, 596
21, 576
2
3
4
4,818
2,998
1,062
758
4,518
2,804
898
816
3,797
2, 522
494
781
5,326
3,227
1,083
1,016
5,414
3,607
899
908
3,937
2, 569
475
893
4,185
2,826
532
827
5,516
3,570
959
986
4,677
2,965
811
901
4,733
2,982
931
808
4,587
2,938
886
802
4,266
2,501
824
857
4,873
3,130
896
904
5,233
3,459
740
954
4,042
2,747
460
879
4,839
2,999
901
905
4,938
3,367
764
877
4,501
2,824
677
947
5
6
7
8
6,677
524
510
951
474
170
1,647
1,455
8,015
867
662
964
436
203
1,882
1,599
7,728
1,017
714
676
220
158
1,994
1,459
7,976
1,230
704
640
223
301
1,891
1,423
7,801
1,178
639
684
314
219
1,918
1,443
7,731
1,315
562
677
271
183
1,821
1,406
7,177
1,071
617
634
247
159
1,818
1,359
7,486
1,200
670
610
169
290
1,810
1,444
7,573
960
704
666
203
301
1,916
1,654
6,726
623
526
7^5
320
202
1,657
1,416
7,642
832
625
912
411
221
1,825
1,535
7,977
1,018
719
840
353
180
1,975
1,515
8,051
1,165
720
694
269
229
1,957
1,470
7,848
1,358
654
579
208
240
1,909
1,410
7,427
1,233
549
627
232
206
1,784
1,353
7,390
1,062
617
747
370
191
1,808
1,402
7,530
1,111
667
652
191
215
1,866
1,487
7,603
1,111
721
571
143
329
1,905
1,613
9
10
11
12
13
14
15
16
193
581
646
250
762
826
243
797
670
239
820
729
197
789
735
257
790
720
217
692
610
176
619
668
145
576
651
210
588
646
228
721
826
210
798
670
277
853
729
220
803
734
234
748
703
199
699
625
194
640
670
161
585
650
17
18
19
6,781
5,261
1,151
4,110
804
419
1,616
200
726
345
7,589
5,925
1,258
4,667
980
451
1,790
274
789
383
7,132
5,988
1,282
4,706
1,052
471
1,834
251
737
361
8,419
6,601
1, 316
5, 285
1,211
512
2,079
269
827
387
8,694
6,912
1,308
5,605
1,316
499
2,278
332
765
414
9, 242
7,496
1,382
6,114
1,586
522
2,424
426
733
424
8,304
6,858
1,281
5,577
1,462
469
2,231
325
705
385
9,201
7,535
1,412
6, 122
1,550
502
2,536
349
111
414
9,225
7,623
1, 525
6,098
1,502
466
2,476
422
763
469
6,550
5,188
1,120
4,066
807
422
1,594
190
711
338
7,172
5,680
1,216
4,472
908
440
1,748
227
781
361
7,605
6,265
1,335
4, 921
1,077
488
1,909
270
783
384
8,594
6,642
1,336
5,309
1,255
503
2,068
307
804
393
8,454
6,864
1,291
5,583
1,339
501
2,243
325
755
405
8,753
7,173
1,334
5,834
1,473
509
2,357
355
729
402
8,936
7,197
1,339
5, 858
1,508
490
2,344
355
745
409
9,298
7,566
1,420
6,141
1,594
492
2,524
397
746
420
9,010
7,570
1,505
6,068
1, 528
467
2,439
414
753
459
20
21
22
23
24
25
26
27
28
29
1,396
874
124
1,508
958
156
1,020
493
124
1,676
1,041
142
1,601
955
180
1, 588
889
159
1,288
639
159
1,443
719
223
1,393
649
209
1,193
678
137
1,366
803
136
1,292
773
133
1,749
1, 112
140
1,396
763
180
1,450
761
140
1,565
901
183
1,509
777
218
1,225
529
209
30
31
32
SUEVEY OF CURRENT BUSINESS
44
June 1976
Table 3—U.S. Merchandise
[Millions
1967
Line
1968
1C69
1970S
1972
1971
1973
1974 B
1975
D
Merchandise trade, by end-use category, Census basis,1 including military grant
shipments— Continued
33
34
35
36
37
38
Automotive vehicles
parts and engines
To Canada 8
To all other areas
Passenger cars new and used
Trucks buses and special vehicles
Bodies engines parts and accessories, n.e.c
2,784
1,755
1,029
824
413
1,548
3,453
2,378
1,075
982
432
2,038
3,888
2,736
1,152
1,023
531
2,334
3,652
2,474
1,178
837
560
2,255
4,396
3,210
1,186
1,183
601
2,612
5,119
3,901
1,218
1,322
686
3,112
6,343
4,716
1,627
1,825
853
3,665
8,162
5,742
2,420
2,334
1, 350
4,478
10,085
6,542
3,543
2,885
2,103
5,097
39
40
41
42
Consumer goods (nonfood) except automotive
Consumer durables manufactured
Consumer non durables, manufactured
Unmanufactured consumer goods (gem stones)
2,111
825
1,222
65
2,334
890
1,344
99
2,576
1,020
1,429
128
2,719
1,009
1, 587
123
2,847
1,086
1,629
133
3,492
1,448
1,859
185
4,705
2,027
2, 345
333
6,267
2,848
3,097
321
6,463
2,801
3,405
257
43
Special category (military-type goods)
-
1,103
1,110
1,645
1,359
1,490
1,180
1,583
2,134
3,036
44
45
46
Exports n ** c and reexports
Domestic (low-value miscellaneous)
Foreign (reexports) ^
'
-
-
743
359
?84
851
414
437
1,087
543
544
1,503
869
634
1,533
895
638
1, 808
1,008
800
2,354
1,261
1,093
3, 168
1,805
1,363
3,380
1,883
1,497
26,889
33,226
36,043
39,952
45,563
55,583
69,476
100,252
96, 140
4,586
1,698
963
588
2,888
5,271
1,916
1,140
640
3,355
5,239
1,700
894
638
3,538
6,154
2,085
1,159
725
4,069
6,366
2,111
1,167
764
4,255
7,265
2,165
1,182
832
5,101
9,113
2,707
1,570
925
6,406
10, 570
4,069
1,505
2,247
6,501
9,650
3,752
1,561
1,870
5,898
11, 862
2,245
2,099
1,386
2,371
1,015
162
584
610
754
14, 159
2,514
2,359
1,431
2,749
1,180
148
689
732
1,072
14, 160
2,800
2,577
1,595
2,658
1,142
117
709
691
1,187
15,106
3,085
2,795
1,578
2,866
1,209
111
836
710
1,001
16, 965
3,762
3,375
1,651
3,153
1,411
89
955
698
1,334
20, 322
4,882
4,369
1,756
3,703
1,538
157
1,130
878
1,959
26, 713
8,295
7,758
2,129
4,160
1,594
191
1,346
1,029
2,433
51,306
25, 540
24, 661
3,006
5,670
1,597
254
2,499
1,320
1,956
48, 815
26, 631
25, 195
2,732
4,951
1,177
342
2,229
1, 202
1,541
5,106
681
1,422
2,259
744
6,393
668
2,123
2,734
869
5,920
626
1,914
2,360
1,020
6,576
706
2,191
2, 650
1,030
7,065
714
2,871
2,406
1,074
8,023
759
3,071
2,910
1,284
9,696
970
3, 196
3,731
1,799
15, 135
1,356
5,559
5,810
2,409
12, 961
1,743
4,606
4,482
2,132
2,412
2,282
535
1,747
378
2,819
2,631
682
1,949
460
3,244
3,067
817
2,250
502
3,816
3,623
1,017
2,606
566
4,127
3,900
1,157
2,742
692
5,572
5,135
1,588
3,548
908
7,584
6,990
2,413
4,577
1,037
9,302
8,666
3,142
5,524
1,127
9,554
9,007
2,866
6,141
1,216
680
352
183
750
337
225
849
347
339
971
359
471
916
364
531
1,144
497
662
1,546
667
875
2,027
850
974
2,331
997
1,012
154
178
212
239
239
337
452
546
584
129
59
188
109
177
110
191
48
227
40
437
58
595
81
636
97
547
81
2,604
1,569
1,035
1,701
301
602
4,256
2,579
1,677
2,796
479
981
5,288
3,436
1,853
3,355
705
1,228
5,894
3,525
2,369
3,710
720
1,464
7,917
4,532
3,385
5,091
835
1,991
9,327
5,259
4,068
5,730
1,129
2,468
10, 886
5,893
4,993
6,526
1,282
3,078
11, 961
5,555
6,406
7,307
1,452
3,202
11, 680
5,759
5,921
7,141
1,304
3,235
4,213
2,190
1,556
467
1,212
5,375
2,799
2,009
567
1,346
6,616
3,535
2,480
601
1,471
7,553
4,068
2,960
525
1,400
8,561
4,682
3,315
563
1,627
11, 355
6,469
4,123
762
1,742
13, 185
7,406
4,785
994
1,993
14,751
8,627
5,165
958
2,362
13,716
7,311
5,478
927
2,725
47
48
--
Seasonal adjustment discrepancy (D 1 less D 5, 9, 20, 38, 39, 43, and 44)
Merchandise imports Census basis, (All)
49
50
51
52
53
Foods feeds a n d beverages
Coffee cocoa and sugar
Green coffee
Cane sugar
-Other foods feeds a n d beverages
54
55
56
57
58
59
60
61
62
63
Industrial supplies and materials ^ ^
Fuels a n d lubricants n 1 2
_ _ _ _ _ _ _ _
Petroleum and products "
Paper and paper base stocks
Materials associated with nondurable goods and farm output, n e s
Textile supplies and materials
Tobacco unmanufactured
-Chemicals excluding medicinal
. . - _
_ _ __ _
Other (hides copra materials for making photos, drugs, dyes)
Building materials except metals
- -
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
--- --- _ - _ _
_ - - _ _ _ _
--_ _ _ _
Materials associated with durable goods output, n.e.s.10
Steelmaking materials
Iron a n d steel products
___
Other metals primary and advanced, including advanced steel
Nonmetals (gums oils resins minerals rubber, tires, etc.)
- -
_
C apital goods except automotive
- - Machinerv 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.
Other industrial machinery n e s
Agricultural machinery and farm tractors
_
__
Business and office machines computers etc
Scientific, professional and service-industry equipment, and miscellaneous transportation equipment.
Q iviiiQ,n aircraft engines parts
Civilian aircraft complete all types
l3
80
81
82
83
84
85
Automotive vehicles
parts and engines
From Canada 13
From all other areas
Passenger cars new and used
Trucks buses and special vehicles
Bodies engines parts and accessories n e s
86
87
88
89
90
Consumer goods (nonfood) except automotive
Consumer durables manufactured
-Consumer nondurables manufactured
Unmanufactured consumer goods (gems nursery stock)
Imports, n.e.s. (low value, goods returned, military aircraft, movies, exhibits)
91
Seasonal adjustment discrepancy (D 48 less D 49, 54, 69, 80, 86, and 90)..
See footnotes on pages 50-51.
- -
J
SUEVEY OF CURRENT BUSINESS
June 1976
45
Trade—Continued
of dollars]
Not seasonally adjusted
Seasonally adjusted
1975
1974
1974
1976
II
III
IV
I
II
III
IV
IP
1,878
1,357
521
542
291
1,045
2,046
1,451
595
607
335
1,104
1,832
1,237
595
449
336
1,047
2,406
1,697
709
736
388
1,282
2,206
1,458
748
618
405
1,184
2,696
1,773
923
725
579
1,392
2,345
1,436
908
594
601
1,150
2,838
1,875
963
948
518
1,371
2,646
1,813
833
769
427
1,450
1,477
642
727
108
1,719
812
816
91
1,539
690
783
66
1,531
704
771
56
1,530
646
819
65
1,618
716
839
63
1,576
685
834
58
1,739
754
914
71
429
555
552
598
637
625
766
667
381
286
840
473
367
784
449
335
877
502
375
907
452
454
872
488
384
784
463
320
21,039
25,671
26,423
27,119
24,391
22,837
2,684
887
512
274
1,797
2,735
1,009
458
443
1,726
2,523
1,030
280
705
1,493
2,629
1,144
255
825
1,485
2,239
881
372
412
1,358
9,759
4,738
4,580
683
1,183
386
61
438
298
507
12, 962
6,688
6,510
750
1,424
414
72
623
315
610
13, 972
7,077
6,847
778
1,510
410
55
675
369
506
14, 613
7,037
6,724
795
1,553
387
66
763
337
333
2,647
192
706
1,232
517
3,491
313
1,088
1,476
614
4,101
376
1,519
1,548
659
2,037
1,886
706
1,180
247
2,407
2, 226
825
1,401
285
422
171
227
I
1975
I
1976
II
III
IV
1,794
1,293
506
530
276
985
1,880
1,295
595
546
311
1,016
2,136
1,487
648
588
367
1,177
2,352
1,667
671
670
396
1,300
1,870
833
951
86
1,499
654
737
106
1,601
748
772
82
1,580
726
788
71
1,008
640
429
555
817
480
337
729
362
367
707
399
302
763
440
326
-2
31
325
-267
113
-27
23,601
25,311
27, 319
21,558
24,868
26,885
27,003
25, 030
22,328
23,914
2,349
999
318
605
1,349
2,510
1,043
467
521
1,467
2,552
829
404
332
1,723
2,603
888
553
230
1,716
2,767
877
512
316
1,870
2,652
946
458
412
1,686
2,574
1,018
280
628
1,551
2,577
1,228
255
891
1,394
2,299
900
315
473
1,389
2,310
945
299
581
1,355
2,576
1,034
490
454
1,541
13,312
6,885
6,497
763
1,422
285
135
684
318
298
11, 397
5,855
5,536
731
1,206
251
114
567
274
439
11, 782
6,865
6,553
663
1,028
266
50
440
271
417
12,324
7,026
6,609
575
1,295
375
43
538
339
387
13, 711
7,958
7,432
694
1,576
405
187
605
379
469
9,500
4,233
4,075
668
1,128
377
40
425
282
546
13,158
7,138
6,960
722
1,344
402
59
565
305
558
14, 235
7,246
7,016
812
1,585
413
82
711
392
492
14,413
6,923
6,610
804
1,613
405
73
798
341
360
13, 032
6,353
5,965
747
1,398
286
105
685
306
329
11, 791
6,335
6,016
712
1,178
254
104
536
274
384
4,895
475
2,247
1,554
619
3,941
426
1,733
1,217
569
3,167
487
1,124
1,056
500
2,808
417
850
1,041
500
3,045
413
899
1,168
563
3,015
303
926
1,183
603
2,922
295
853
1,193
517
3,415
297
1,129
1,417
614
4,096
327
1,467
1,635
659
4,702
437
2,110
1,565
619
4,206
587
1,969
1,215
569
2,439
2,263
841
1,422
303
2,419
2,291
770
1,521
292
2,383
2,239
629
1,610
311
2,406
2,241
677
1,565
298
2,274
2,165
744
1,421
294
2, 491
2,362
816
1,545
313
2,537
2,425
805
1,620
316
2,024
1,873
706
1, 159
247
2,275
2,100
825
1,312
285
2,516
2,331
841
1,489
303
2,487
2,362
770
1,564
292
498
232
241
535
205
237
572
242
269
603
274
262
598
282
240
557
201
235
573
240
275
598
274
285
422
153
220
498
197
230
535
234
255
113
146
142
146
159
146
134
145
147
117
141
151
14
181
26
176
30
128
27
144
16
165
24
109
23
129
18
112
21
151
14
2,974
1,357
1,617
1,957
311
706
3,321
1,342
1,979
2,118
355
848
2,723
1,194
1,529
1,571
360
792
2,943
1,661
1,282
1,661
426
856
2,630
1,257
1,373
1,688
324
618
2,897
1,518
1,379
1,809
317
771
2,756
1,294
1,462
1,633
280
843
3,397
1,690
1,707
2,011
383
1,003
3,998
1,845
2,153
2,367
503
1,128
3,082
1,770
1,098
214
504
3,676
2,110
1,260
306
570
4,159
2,433
1,493
233
607
3,834
2,315
1,314
205
682
3,123
1,717
1,216
189
704
3,125
1,697
1,193
235
663
3,614
1,866
1,507
241
665
3,854
2,031
1,562
262
693
3,856
1,896
1,650
310
614
I
209-299 O - 76 - 2
Line
II
III
IV
IP
2,147
1,402
738
610
397
1,136
2,501
1,608
903
666
538
1,302
2,725
1,726
970
782
640
1,307
2,712
1,806
392
827
528
1,352
2,584
1,748
825
761
421
1,392
33
34
35
36
37
38
1,587
720
800
62
1,542
666
818
62
1,504
657
797
56
1,634
722
851
62
1,783
756
939
77
1,889
860
950
82
39
40
41
42
552
598
637
625
766
1,008
640
43
815
463
354
883
503
381
950
469
478
793
460
341
821
480
343
816
474
335
765
376
385
44
45
46
—131
—113
47
24,900
27,723
48
2,465
873
457
362
1,613
2,664
905
477
262
1,747
49
50
51
52
53
12, 048
7,045
6,733
687
1,090
270
77
473
292
406
11, 944
6,898
6,481
586
1,285
367
56
535
330
422
13,339
7,359
6,833
676
1,548
406
141
606
363
518
54
55
56
57
58
59
60
61
62
63
3,192
443
1,119
1,064
500
2,796
358
800
1,086
500
2,767
355
718
1,117
563
3,228
427
1,077
1,178
603
64
65
66
67
68
2,398
2,253
657
1,595
316
2,310
2,159
662
1,497
287
2,338
2,223
740
1,486
296
2,508
2,372
807
1,563
317
2,555
2,442
841
1,606
321
69
70
71
72
73
572
266
269
601
262
256
581
247
237
569
235
251
580
253
268
596
263
279
74
75
76
141
147
161
141
135
147
149
77
181
26
176
30
128
27
144
16
165
24
109
23
129
18
112
21
78
79
2,800
1,279
1,535
1,782
343
674
3,005
1,198
1,816
1,874
333
805
3,227
1,528
1,683
1,944
387
873
2,929
1,550
1,372
1,707
389
850
2,558
1,241
1,295
1,557
350
617
2,652
1,404
1,251
1,603
312
754
3,173
1,600
1,566
1,952
301
913
3,297
1,514
1,809
2,029
341
951
3,920
1,834
2,054
2,212
543
1,131
80
81
82
83
84
85
3,287
1,933
1,144
214
507
3,702
2,113
1,278
306
573
3,907
2,322
1,353
233
614
3,855
2,259
1,390
205
668
3,404
1,906
1,284
201
708
3,198
1,733
1,253
219
665
3,380
1,760
1,377
236
672
3,734
1,912
1,564
271
680
4,205
2,109
1,739
330
617
86
87
88
89
90
673
-497
-188
74
631
-598
-273
272
423
91
155
SURVEY OF CURRENT BUSINESS
46
June 1976
Table 4.—Selected U.S. Government Transactions
[Millions of dollars]
1973
Line
Al
la
U.S. Government grants (excluding military) and transactions increasing Government
assets, total
----- ----- --- 7,180
Seasonally adjusted
-_.
1974
19 74
1975
19 75
1976
I
II
III
IV
I
II
III
IV
IP
9,935
8,831
4, 120
4,005
2,208
1,996
1,478
1,740
2,129
2,195
2,380
8,256
2,384
2.170
1,764
2,037
2 303
2 369
2 174
9 019
5,475
2,893
764
223
541
858
622
91
531
751
187
564
1,494
1,657
802
124
678
565
87
478
659
107
552
1 580
1 245
775
250
525
1 454
1 525
82
216
770 1 263
6
8
1
7
152
119
1 508
1 455
200
183
155
1 041
1 264
1 366
(*)
2
2
(*)
-45
7
(*)
75
4
-10
(*)
By category
2
3
4
5
6
7
g
9
10
11
12
13
14
15
16
17
18
19
20
21
22
Grants net (table 1 line 30 with sign reversed)
-...
1 938
Financing military purchases by Israel *
. __
Other grants
- ----- - - --- --- 1.938
Loans and other lone-term assets (table 1, line 40, with sign reversed)
... .
4 639
Capital subscriDtions and contributions to international financial institutions,
373
excluding IMF
---..3 972
Credits repayable in U S dollars
Credits repayable in foreign currencies
281
14
Other long-term assets
-.. _
Foreign currency holdings and short-term assets, net (table 1, line 42, with sign reversed) . 602
9
Foreign currency holdings (excluding administrative cash holdings), net .- .
Receipts from—
5
Sales of agricultural commodities
170
Interest _
__.
-—
- — - -344
Repavments of principal
- ----- - 2
Reverse grants
-- - ...
15
Other sources
_ __. _ . . . ..
.
Less disbursements for —
Grants and credits in the recipient's currency
207
Other grants and credits —
..
-..
315
Other U S Government expenditures
.._. _ . ...
18
Assets held under Commodity Credit Corporation
Charter Act, net
598
Assets financing military sales contracts, net 2
Other short-term assets (including changes in administrative cash holdings), net..... -23
2,609
1 481
4,538
5,001
2,246
5,936
2.609
1,331
1,318
538
654
97
142
4 245
5 268
1,138
1,074
98
-3
112
-10
-144
-37
13
6
-29
61
937
223
—4
647
24
-11
623
858
9
-12
6
3
6
g
—4
-541
15
3
73
181
134
-591
-89
1
121
2,214
2
20
5
94
221
2
36
(*)
48
2,487
(*)
23
210
(*)
(*)
25
27
(*)
8
(*)
25
36
(*)
'6
1
22
89
2
6
1
26
49
(*)
8
3
25
46
(*)
18
(*)
22
37
22
31
4
5
2,319
21
2,062
229
25
3
3
4
9
294
—50
263
71
—43
69
-54
80
97
-23
71
—7
—83
57
33
-48
(*)
55
7
—43
/*\
( )
77
5
(*)
81
(*)
50
51
50
—3
-98
21
-17
22
-54
-5
-60
20
-7
82
216
119
200
—555
49
2
2
-503
24
5
9
8
By program
23
24
25
26
27
28
29
30
Capital subscriptions and contributions to international financial institutions, excluding IMF
Under farm product disposal programs
-- Under Foreign Assistance Act and related programs
Under Export -Import Bank Act
Other assistance programs
Other foreign currency assets acauired (lines A13, A14, and A16) .
Less foreign currencies used by U.S. Government other than for grants or credits (line
A19)
Other (including changes in administrative cash holdings), net
373
538
2 965
1 680
1 050
3 133
2 577
654
1,384
3 687
2 490
97
142
152
183
155
1 027
1,283
169
529
2,627
564
351
2,264
354
907
587
76
237
315
-6
294
-10
263
-35
69
-39
97
2
71
-25
57
52
55
-44
77
-5
81
-53
50
67
50
-10
Estimated transactions involving no direct dollar outflow from the United States 6,191
3,371
Expenditures o n U S merchandise
-- .
775
Expenditures on U. S. services 4
- -5
__ .
1,216
Financing of military sales contracts by U.S. Government (line C6)
619
By long-term credits 1
598
B y short-term credits
-__
.
. _ . _
By grants 1
349
U.S. Government grants and credits to repay prior U.S. Government credits * 4
919
U.S. Government long- and short-term credits to repay prior U.S. private credits
Increase in liabilities associated with U.S. Government grants and transactions
increasing Government assets (including changes in retained accounts) • (line Cll). -37
Less receipts
on short-term U.S. Government assets (a) financing military sales con87
tracts 1 and (b) financing repayments of private credits
Less foreign currencies used by U.S. Government other than for grants or credits
315
(lineA.19)
. .
988
Estimated dollar payments to foreign countries and international financial institutions.
8,552
3,889
1,169
7,488
4,754
1,119
1,124
3,818
1,018
1,797
1,239
812
257
197
57
140
2,093
1,347
2,065
1,387
1,434
1,896
1,196
1,856
900
354
340
220
120
1,698
1,160
308
280
200
80
144
124
357
486
2,281
75
937
19
254
23
196
89
132
137
73
62
905
992
371
322
751
679
116
101
721
535
76
60
216
754
777
104
66
327
943
831
110
117
581
983
583
118
83
190
735
490
193
89
286
586
142
63
435
134
58
By disposition 3
31
32
33
34
35
36
37
38
39
40
41
42
43
Bl
Repayments on U.S. Government long-term assets, total (table 1, line 41)
2
3
4
5
6
Receipts of principal on U.S. Government credits
Under farm product disposal programs
Under Foreign Assistance Act and related programs
Under Export-Import Bank Act
Other assistance programs
7
Receipts on other long-term assets
Cl
2
3
4
5
6
7
8
9
10
11
12
13
14
..
-
... - _
.. ...
974
592
382
3,668
205
531
593
824
290
159
76
83
97
154
271
306
64
961
275
464
356
242
107
56
133
126
109
6
-19
-11
-1
-5
6
2
2
95
55
646
231
93
62
9
11
13
28
294
263
69
97
71
57
55
77
81
50
50
(*)
(*)
1,383
1,344
302
411
239
431
287
319
330
407
319
2,596
4,826
2,476
2,723
948
498
656
542
707
574
653
650
2,562
4,816
2,265
2,444
2,720
1,946
942
210
129
404
199
497
40
132
174
152
656
70
106
313
168
540
82
103
203
152
678
36
167
287
187
574
42
136
221
176
652
75
120
281
177
648
36
234
233
145
(*)
(*)
416
403
1,089
654
748
1,111
692
235
526
992
692
381
220
173
10
31
3
6
1
724
1,732
66
158
418
294
335
211
-36
U.S. Government liabilities other than securities, total, net increase (+) (table 1, line 55) . _ 1,153
See footnotes on pages 50-51.
264
324
180
1,025
35
Associated with military sales contracts 2
U.S. Government cash receipts from foreign governments (including principal
repayments on credits financing military sales contracts) , net of refunds 1 7
Less U.S. Government receipts from principal repayments 7
Less U.S. Treasury securities issued in connection with prepayments for military
purchases in the United States
Plus financing of military sales contracts by U.S. Government 5 (line A34)_.
By long-term credits
By short-term credits l
By grants *
Less transfers of goods
and services (including transfers financed by grants to Israel,
and by credits) 1 2 (table 1, line 3)
Associated with U.S. Government grants and 6transactions increasing Government
assets (including changes in retained accounts) (line A40)
1
Associated with other liabilities
Sales of nuclear materials by Energy Research and Development Administration
Other sales and miscellaneous operations
250
158
115
43
(*)
82
2
29
444
418
371
499
2
1,469
815
664
1,543
77
160
394
34
391
383
335
435
1,460
2,290
2,942
4,591
497
56
642
84
995
78
808
81
1,050
1,013
1,148
2,250
53
101
66
1,380
56
79
280
200
80
340
220
120
197
57
140
158
115
43
324
180
335
211
159
76
306
64
464
356
144
124
83
242
107
931
865
906
1,195
1,175
6
47
(*)
36
2
33
-10
57
79
-44
372
300
275
22
974
592
382
1,124
619
598
2 342
2,952
3 897
644
738
720
850
-37
375
-36
96
6
183
-19
8
-11
9
-1
26
-5
53
348
27
75
21
14
-5
23
3
39
14
1,216
531
593
92
91
(*)
9
22
11
-2
67
(*)
67
(*)
10
-1
11
SURVEY OF CURRENT BUSINESS
June 1976
47
Table 5.—Direct Investment: Capital, Income and Adjusted Earnings
[Millions of dollars]
1973
(Credits +; debits -)
Line
1974
1974
1975
I
II
1375
III
IV
I
II
III
1
IV
1976
IP
U.S. direct investment abroad:
i
Net capital outflows (— ) (table 1, line 44)
-4, 968 -7,753 -6, 307 —1, 137 —1,485 — 1 900 —3 231 — 1 510 —2 334
—770 — 1 694
-3, 692
— 1,724
—86
-1,882
-2, 762
879
761
50
90
621
—354
975
—892
156
347
—389
— 802
413
—802
1 580
By type:
2
n
Transactions with incorporated foreign affiliates
Intercompany accounts ' short "term
long-term
Capital stock and other equity, net
Increase ^
-Decrease2
-
_ _ _ _ _ _ _ _
Transactions with unincorporated foreign affiliates
g
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
By industry of foreign affiliate: 3
Petroleum
Manufacturing
-Other
-
.
. . .
-
-
Receipts of income (table 1, line 11) _
By type :
Interest
Dividends
E arnings of unincorporated foreign affiliates
By industry of foreign affiliate: 3
Petroleum
.
-- Manufacturing
Other
-
-
Memoranda:
Reinvested earnings of incorporated foreign affiliates (excluded from lines 1
and 12)
By industry of foreign affiliate: 3
Petroleum
Manufacturing
- Other
Adjusted earnings of foreign affiliates
(line 12 plus line 19)
By industry of foreign affiliate: 3
Petroleum
Manufacturing
Other
_
-
-- -
-5, 931 -1,766 —3, 102
—252 — 2 718
—3,763
-335
—9
136
-1,834 — 1,505
—520
-2,488 -3, 113
— 703
654
1,608
183
—834
—483
—2
—349
—446
97
—376 — 1 619
—613 — 1 023
46
—608
413
—560
— 128
—341
415
—168
—294
—670 — 1 441
—295
—911 — 1 532
—428
—425
134
240
91
130
" '
' '
na
-1, 276 -1,822 —4, 541
1 965
—651 — 1 524 —1,612
—897 — 1 311 — 1 531
-1,442 -1,200 -2,803
-1,863 -2, 861 -1,300
-1,663 -3, 693 -2, 204
689
-877
—949
—198
-629
-657
—164 —1, 526
—912
-443
-824 -1,263
—218 — 1 049
-622
—510
-671
—775
—363 — 1 173
47
— 216
—453
—305
—378
na
na
8,841
17, 849
9,456
4 533
4,228
4 232
4,857
2 169
2 150
2 083
3 053
3 004
612
4, 309
3,920
728
6,038
11, 083
653
4,411
4,392
183
1 362
2 987
175
1,012
3,041
176
837
3 219
194
2 828
1 835
155
966
1 048
164
821
1 165
168
896
1 019
166
1 728
1 159
na
na
na
4,249
2,472
2,120
11,714
2,748
3,387
3,657
2,559
3,240
3,044
796
692
3,004
605
619
3,091
546
594
2,575
801
1,481
907
504
758
782
558
810
906
474
703
1 061
1 022
969
na
n.a
n.a
8, 158
7,777
n.a.
na
n.a.
n.a.
na
na
na
na
na
na
1,925
4,107
2,126
1,719
3,936
2,122
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.
na
n.a.
n.a.
n.a
n.a
n.a
16, 999
25, 626
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n a.
na
6,174
6,579
4,246
13, 433
6,684
5,509
na
n.a.
n.a
na
na
n.a.
na
n a.
n.a.
na
n.a.
n.a.
na
n a.
n.a.
na
n a.
n.a.
na
n a.
n a.
n.a
na
n.a.
na
na
n.a.
na
n.a
n.a
2,656
2,745
2,437
1 309
1 712
31
—307
476
780
—48
1 229
-68£
2,472
941
1,531
1,581
-50
2,417
769
1,648
1 751
— 103
2,021
1,082
1 245
769
475
524
—48
1,694
1,455
-152
-370
-355 —1,101
204
731
204
777
—47
(*)
406
939
951
—12
653
409
-184
-295
112
116
—4
1,147
690
457
457
(*)
184
328
416
64
18
183
63
70
128
136
82
87
1,120
748
788
664
1 348
733
1 064
606
768
644
384
281
1 614
114
—16
—722
494
259
—871
355
210
131
37
308
171
247
363
248
144
—440
514
178
536
— 1,03£
-955 -5,495 -2,127
-636
-1,924 -1,879 -1,056
-491
-474
-527
-636
-80S
—16
—47
—77
—680 —5 199 — 1 519
—259
—250
—531
—15
—10
—4
—587 — 1 824 — 1 832
-32
—45
—90
—18
—955
-83
—22
—344
—125
—18
—314
-143
—24
—360
-143
—14
—501
—121
—12
-63£
-15£
—385 —4 873 — 1 213
—301
—348
—307
—269
—274
—607
—505 — 1 751 — 1 761
—81
—87
—83
—45
—38
—91
—857
—97
—101
—263
—84
— 144
—260
—60
—154
—283
—61
—183
—407
—103
—126
— 55c
—84
— 15£
Foreign direct investment in the United States:
27
Net capital inflows (+) (table 1 line 59)
By type:
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
Transactions with incorporated U.S. affiliates
Intercompany accounts
Capital stock
and other equity net
Increase l 2
Decrease
_
Transactions with unincorporated U S. affiliates
By industry of U.S. affiliate: 3
Petroleum
Manufacturing
Other
...
.
_
__
-
Payments of income (table 1, line 25).
By type:
Interest
Dividends
Earnings of unincorporated U.S. affiliates
By industry of U.S. affiliate: 3
Petroleum
Manufacturing
.
Other
Memoranda:
Reinvested earnings of incorporated U.S. affiliates (excluded from lines
27 and 37)
By industry of U.S. affiliate: 3
Petroleum
Manufacturing
Other -_
Adjusted earnings of U.S. affiliates
(line 37 plus line 44)
By industry of U.S. affiliate: 3
PetroleumManufacturing
Other..
See footnotes on pages 50-51.
_.
239
247
—8
279
127
134
—6
244
245
—1
-775
-i,3oeC
52
52£
(*)'
e
34C
1,025
1,580
1,881
457
489
576
59
424
522
599
336
49'
257
464
304
598
709
274
1,151
661
69
149
228
80
143
253
94
302
204
69
4
24
31
284
152
— 11
291
203
29
377
180
41
200
126
10
18C
241
7£
1,980
7,076
4,008
1,093
2,414
2,455
1,115
915
996
1,125
972
1,29S
642
765
573
5,471
1 057
548
2,365
968
676
654
315
124
1,893
336
184
2,063
285
107
861
121
132
547
235
132
551
263
183
660
241
225
607
229
136
73S
325
23e
SUEVEY OF CUREENT BUSINESS
48
June 1976
Table 6.—Securities Transactions
[Millions of dollars]
19'rs
19'T4
(Credits (+); debits (-)
Line
Foreign securities, net U.S. purchases (— ), balance of payments basis (table
1 line 45 or lines 6+16 below)
A 1
1974
1973
1975
—671 -1 854 —6 206
I
II
III
—600
—272
—282
I
IV
in
II
—699 — 1 928
1976
IV
IP
979
938
2 361
o CA7
—IS
—166
57
—101
101
23
Stocks:
Treasury basis, net * .
Adjustments:
Less recorded in table 1, line 44 as U.S. direct investment abroad.
Plus exchange of stock associated with direct investment in the United States. .
Plus other adjustments
--
176
185
-180
-17
122
3
4
5
-83
-64
-5
-1
-2
g
7
Balance of payments basis net
Newly issued in the United States
249
-6
-15
-92
-16
-3
124
-2
90
-1
51
-
199
—13
-
212
255
-13
126
-50
-10
186
91
-46
-12
150
-1
51
-36
7
62
18
2
g
—10
-
--
-134
-
•
--
—5
160
— 13
_1
57
58
-24
-1
-15
-40
32
— 13
—1
—27
-6
27
5
115
51
8
61
—5
78
—81
12
—4
5
-777 -1,957
-981
—945 — 2, 418
— 2 406
-92
Other foreign stocks
Western Europe
Canada
Japan
Other
-58
-61
160
Of which Canada
9
10
11
12
13
90
(*)
-292
152
190
4
18
514
15
77
63
-8
-8
30
-58
-34
-34
-160
33
116
-2
58
40
5
-56
-2
Bonds:
15
Treasury basis, net *
Adjustments;
Plus additional Canadian redemptions 2
16
17
18
19
20
21
22
23
24
25
Balance of payments basis, net
Newly issued in the United States
By type* privately placed
publicly offered
By area' Western Europe
Canada
-- Japan
Latin America
Other countries
Internationalfinancialinstitutions 3
14
26
27
28
29
30
31
32
33
34
B 1
Redemptions of U S -held foreign bonds 2
Canada
Other countries
International financial institutions 3 2
Other transactions in outstanding bonds
Western Europe
Canada
Japan
Other
---
-993 -2, 716 -6, SOI
-628
-427
-384
110
44
31
12
128
-
-870
— 1 379
-712
-667
-
-25
- -
-806
114
-2, 102 -6, 191
—2 372 -7, 168
-1 028 -1,655
-1,344 -5,513
-584
-677
-292
-385
-20
-846
-167
-1,745 -3,231
-197
-187
-30
-417
-600
-2, 107
-574
— 13
—74
----
- -.
--
-470
—4
—231
643
446
125
72
—373
-260
-157
-114
740
460
153
127
Q
-
U.S. securities, excluding Treasury issues and transactions by foreign official
agencies, net foreign purchases (+), balance of payments basis (table 1,
line 61 or lines 5+12 below)
-372
-415
-252
-163
-396
-473
-200
-273
-354
-40
-300
-10
-93
-10
-89
184
120
45
19
86
172
114
37
21
-79
-8
-29
-7
-35
-75
27
-750
-807
-284
-523
-107
-517
-13
-10
-160
87
15
-1,870
-966
-937
-2, 108 — 1 221 — 1 266
-455
—164
—235
-1,653 —1,057 — 1 031
-274
-169
-180
-745
-714
-483
-50
-140
-174
-725
—7
-245
-75
—42
-20
-52
-500
269
185
42
42
-31
33
-37
-30
3
191
111
26
54
64
87
-33
-13
23
178
96
36
46
151
180
-45
-25
41
344
385
781
-54
-30
-2
-21
138
91
28
19
-95
-68
-30
2
1
712
363
227
4,667
383
56
113
-13
977
919
1,317
19
—1
-6
-81
5
-27
-190
-325
-327
376
456
-48
-9
-23
-25
32
-4
-27
-26
91
16
33
-19
61
-203
-223
652
605
48
-41
40
827
525
122
180
150
444
-263
-117
62
-25
-15
-87
4,041
378
2,727
2,791
639
4
-107
149
121
15
13
-92
-27
-25
-8
-32
-925
I
8
—2 418
—2 573
—801
— 1 772
—223
— 1,289
—98
—27
— 129
—807
189
133
18
38
—34
144
—2 405
2 824
—938
— 1 886
—385
—2 007
—50
—46
—76
-260
-49
19
331
83
25
223
88
198
-91
-29
10
1,217
1,026
1,454
1,469
-319
—510
-527
1.017
944
571
199
26
148
942
666
103
11
162
-148
Stocks:
2
Treasury basis, net *
3
4
Adjustments:
Plus exchange of stock associated with U S direct investment abroad
Plus other adjustments *
5
6
7
8
9
Balance of payments basis net
Western Europe
Canada
Japan
Other
-
—27
2,762
2 077
---
- - -- --
-
100
495
90
-304 —1,481
19
592
485
54
1
52
239
281
-3
-45
6
3,205
2,491
361
23
330
966
789
109
493
486
-122
230
-45
-49
653
228
-828 -1,207
227
-105
-350
-600
-538
-162
-187
-380
-144
-478
336
24
388
67
136
13
-722
-308
-207
-236
273
80
84
94
-994
-830
-352
-187
-117
-471
216
16
177
20
-30
61
113
-15
16
10
-6
830
60
37
90
Bonds:
10
Treasury basis net ^
1,962
11
Adjustments ^< ^
—683
12
13
14
Balance of payments basis, net
-_ . . - New issues sold abroad by U S. corporations5
Investments by international financial institutions3 in nonguaranteed bonds of U S federally sponsored agencies
Other transactions in U S. bonds
1,279
1,222
15
16
Of which United Kingdom
See footnotes on pages 50-51.
27
30
244
138
116
196
520
320
209
103
142
179
-19
142
298
71
87
1
89
-498
12
96
44
51
-9
97
-94
19
SUEVEY OF CTJEEENT BUSINESS
June 1976
49
Table 7.—Claims and Liabilities Reported by U.S. Nonbanking Concerns
[Millions of dollars]
Line
19 74
(Credits(-f); increase in U.S. liabilities or decrease in U.S. assets.
Debits (— ); decrease in U.S. liabilities or increase in U.S. assets.)
1973
1974
I
A
1
Claims, total
2
Long-term (table 1 , line 46) .
3
Short-term, (table 1, line 47)
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
.
—396
Memorandum:
U.S. dollar deposits in Canadian Banks:
As reported by major U.S. corporations other than banks (included in line A6 above)
As reported in Canadian banking statistics
_
.
—588
(*)
II
III
IV
273
-793
363
59
—972
—759
— 138
—208
22
55
— 139
322
IP
264
17 204
84
4 638
—585
341
4
833
437
180
12 566
—2 155 —2 785
— 1,905 —2 631
7
-125
—800 — 1 992
—686 — 1 972
— 16
—572
—580
62
349
392
—15
—570
—471
—16
357
432
—40
44
195
—8
825
—759
—61
376
—554
— 15
165
na
12 233
3 10 887
5
-19
2,617
—69 —425
-62
-228
—389 —1,485
—36
37
—581
559
32
— 199
—93
-26
—352
134
-10
308
288
-126
33
—281
-53
—425
910
-39
—305
688
-109
na
3 341
393
3 7 950
-292
-784
—205
—275
35
38
-658 -1,114
—111
206
—384
156
-60
—493
—301
-547
—192
—366
-122
-444
—35
—278
—70
248
—225
-221
104
16
46
— 104
454
-124
—60
25
11
—53
—69
—325
163
435
— 158
—71
—27
90
112
36
11
90
—19
—35
—245
—247
—129
55
—52
— 141
—141
— 18
108
82
38
—407
na
na
na
na
na
n a.
3 i 808
3 2 129
3 i goS
3 866
3 643
3 3 833
—250
— 154
—114
-20
8
—43
* —99
—75
— 151
—66
178
na
3 1 181
—92
19
—82
85
—22
—1
—43
9Q
—26
—46
—30
na
3555
-95
6
—67
79
-22
4
—55
23
—21
—47
—22
61
434
-36
-122
-163
— 10
27
—59
-107
2
33
—3
-6
—36
-83
27
-47
—78
-64
44
255
—47
13
n a.
228
3385
— 118
—67
-42
—23
26
—174
—13
7
—52
—1
—54
—7
54
—96
17
5
6
23
-6
—15
5
—38
— 15
5
—39
—63
—9
12
-117
22
4
—79
— 16
16
—32
—105
— 14
(*)
30
—23
—70
—3
—54
206
46
—20
na
n a.
n.a.
na
3347
3 395
3 270
3 169
—169
-20
-161 —1, 067
66
71
—116
-426
28
-360
55
-84
13
-247
—74
—102
172
154
(*)
-32
156
-184
78
313
-235
72
-307
6
-418
-101
-75
351
194
55
-313
-358
354
—41
395
51
344
237
155
—4
76
58
42
—90
107
60
390
-364
754
—30
784
653
85
212
1
209
-5
151
131
150
239 '
-160
399
—56
455
461
178
197
-17
45
-34
92
632
353
279
—5
284
311
—46
176
-8
165
22
2
322
357
—35
56
—91
-34
—118
2
-32
93
23
—2
-22
-27
-11
-57
-60
58
77
—19
31
-50
-16
-148
-111
-57
54
106
140
-34
-57
38
—281
-415
—214
—372
Short-term investments of major U.S. corporations l
Other
By area:
Western Europe
Canada
Japan
.
.
...
Other
—128
I
411
—678
18
—1,245
Of w hi ch major U.S. corporations
—384
IV
Amounts
outstanding
March
31, 1976
—588
173
Payable in foreign currencies
By type:
Deposits
1976
—925 — 1 985
— 1 982 —2 747
Reported by brokerage concerns
Reported by others
Payable in dollars
By type:
Deposits of major U.S. corporations
Short-term investments of major U.S. corporations J
Other
.-- .-.
By area:
United Kingdom
Other Western Europe
-.
Canada
Japan
Bahamas
. Other
1 Liabilities, total
2
Long-term (table 1, line 62) 2
3
Short-term (table 1, line 63) 2
4
Reported by brokerage
concerns
5
Reported by others 2
6
Payable in dollars
7
United Kingdom
8
Other Western Europe .
9
Japan
_.
10
Other Asia
11
Africa..
12
Other
13
Payable in foreign currencies
14
Of which Western Europe
—474
III
II
-2,378 -3, 221 — 1,309 -2, 113
.
.
19 75
1975
1,035
298
737
—39
776
538
—99
149
43
148
69
228
238
193
1,615
—212
1 827
—40
1,867
1,662
—372
581
52
477
25
155
205
177
-137
— 141
—99
-42
—37
—5
-23
-160
73
76
16
—28
18
2
-161
-22
— 139
22
-161
79
8
-65
14
128
49
-55
-240
-243
333
730
-12
2,555
24
11,963
4,937
7,026
411
6,615
35,168
3823
31,313
3240
3 1, 405
3380
3 1, 007
3608
3350
-170
194
46
148
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
See footnotes on pages 50-51.
Table 8.—Claims on Foreigners Reported by U.S. Banks
[Millions of dollars]
(Credits (+); decrease in U.S. assets. Debits (— ); increase in
U.S. assets.)
1 Total
2
Long-term (table 1, line 48)
3
Payable in dollars
..
4
Of which loans...
_
5
Payable in foreign currencies
.. ..
6
Short-term (table 1, line 49)
7
Payable in dollars
By type:
8
Loans
9
Acceptances
..
10
Collections outstanding
11
Other i
By area:
12
United Kingdom
13
Other Western Europe
14
Japan
15
Canada
16
Caribbean 2
.
17
Other
.. .
18
Payable in foreign currencies
By type:
19
Deposits
.
. .
20
Foreign government .obligations and commercial and
finance paper.
21
Other
By area:
22
Western Europe
23
Canada
24
Other
See footnotes on pages 50-51.
1973
1974
1976
1975
1974
Line
1975
I
II
III
IV
I
II
-5,980 -19,494 -13,238 -5,244 -7,577 -1,944 -4,729 -3, 702 -3,820
-441
-381
-180
88
-933
-913
-1, 183 -2, 351
-178
-450
-359
-171
93
-901
-174
-923
-1, 175 -2,315
-104
-461
-238
-112
89
-858
-1, 044 -1,989
-917
-22
9
-9
-32
-4
-5
-36
10
-8
-5, 047 -18,311 -10, 887 -5,066 -6, 664 -2, 032 -4, 549 -3, 261 -3, 439
-5, 231 -17,777 -10, 795 -4, 880 -6, 555 -2, 071 -4, 271 -3, 309 -3, 375
III
IV
IP
Amounts
outstanding
Mar. 31,
1976
-429 -5,287 -3, 714
-245
-943
-586
-213
-920
-586
-137
-794
-496
-32
-23
(*)
157 -4, 344 -3, 469
77 -4, 188 -3, 436
63, 165
9,775
9,627
8,616
148
53, 390
52, 069
-1 989
-934
-1,030
-1,278
-3, 637
-7, 077
-1,331
-5, 732
-429
-464
-746
1,707 -1, 751 -1,325
854
-1,833 -1,365 -2, 380
-8
570 - 1, 055
-104
700
-994 -2, 515 -1,903 -1,665
111
100
-153
-392
31
219
-138
73
-336
-465
170
801 -2,516 -3, 099
-884 -1,468 -5, 131 -2, 397
-9, 243 -2, 185 -1, 195
13, 559
11, 134
5,367
22, 009
-459
-442
-2, 267
-195
-484
-1,384
184
-1,079
-969
-6, 113
-478
-3, 473
-5, 665
-534
127
-792
-254
-332
-409
-519
259
-1,974
-657
-349
9
-265
-439
285
982
-535
-1
-574
-842
-420
689
-372
-109
922
-132
1,405
-1,539
-1,451
-2,
991
1,846
-214
-108
73
54
-189
-531
100
182
-170
-229
2,395 -1, 257 -3, 617
-664
-883 -1,366 -2, 995 -2, 959
-560
-4, 816
-430
-923 -1,355 -1,589 -1,394
-990 -1,375
-5, 261 -1,409 -1,891
-33
-156
-64
80
48
39
-278
-92
-186
-109
4,308
3,590
9,955
2,554
12, 943
18, 719
1,321
13
104
-241
-170
67
-123
-3
155
32
-140
-344
-50
-117
-41
-142
30
219
-87
-201
-72
43
-1
35
-45
15
99
-36
-65
-182
156
794
145
-137
-28
3
-93
-5
6
-54
-34
-55
-7
382
-128
135
-99
-67
-80
-39
25
-125
-9
-21
74
-14
-77
-213
12
125
41
-118
-39
29
-54
-93
140
33
-121
-75
40
49
109
-191
507
363
451
57
-12
SUEVEY OF CURRENT BUSINESS
50
June 1976
Table 9.—Foreign Official Assets in the United States and Other Foreign Assets in the United States Reported by U.S. Banks
[Millions of dollars]
1974
(Credits (+); increase in foreign assets. Debits(-);
decrease in foreign assets.)
Line
1973
B 1 Other foreign assets in the United States: U.S. Treasury securities
and U.S. liabilities reported by U.S. banks, not included elsewhere (table 1, lines 60, 64 and 65)
Foreign commercial banks
3
4
Foreign branches of U.S. banks %
.
.__
Foreign head offices and affiliated organizations
abroad of U.S.
agencies branches and subsidiaries 3 *
Others**
-
5
6
7
g
9
10
11
12
U S Treasury bills and certificates
U S liabilities reported by U.S. banks
Long-term
Short-term
- - -Demand deposits
Time deposits l 1 2
Other obligations
_ _ _
...
13
14
15
16
17
18
19
20
21
22
International financial institutions 5
U S Treasury securities
Bills and certificates
Marketable bonds and notes
U S liabilities reported by U.S. banks
Long-term
Short-term
Demand deposits. .
Time deposits * 12
Other obligations
23
24
25
26
27
28
29
30
31
32
Other private foreign residents and unallocated
U S Treasury securities
Bills and certificates
.
. . _
Bonds and notes
U S liabilities reported by banks
Long-term
-- . .
Short-term
.
-.
. . .
. . . ..
Demand deposits
l
Time deposits
Other obligations 12
6,299
10,981
114
3 282
3,145
3 145
—1
58
-59
465
-350
—122
-228
582
1 153
4,126
217
3,909
534
1,031
2,344
323
1976
I
II
6,336 -1,072
4,648
3,149
4,256
3,402
4 312
—858
—731
-127
1 540
3,630
3 503
—893
—447
—447
2 948
2 681
2 681
—905
—790
—790
2 132
1 701
1 701
5 298
818
4 232 —2 021
2 021
4 359
—127
—509
64
—179
— 133
18
127
891
64
—229
66
446
445
1
136
158
179
252
216
36
604
82
1 732
5,818 —2, 474
-186
827
6,004 -3, 301
—308
826
346
—744
4,832 —2, 249
254
1,874
—22
—51
29
507
1 341
62
1,279
6
11
477
791
64
—111
—367
18
391
418
3 246
—228
3,474
182
5
3 287
1
2,587
3,325
90,810
1 076
1 713
641
fi41
817
817
69 ACA
-197
099
308
308
7^
74
65
418
25
371
007
499
1 469
17
172
—155
—113
—388
121
78
43
192
— 463
369
591
235
356
241
71
44
439
346
482
314
584
127
494
444
342
36
1,121 —2 953
185
2 880
3*710
3 710
333
497
497
c
1,222 —3 545
—628
126
—25
2,331 -1,985
IV
2 703
2 703
944
122
1 253 —3 203
31
III
136
65
571
140
711
36
655
92
649
•34
QQ9
~- ~ ~ -
9ft fi^l
18 4.^9
1 599
2 735
6
QC1
15 375
1 091
14 284
2
fiQf\
9 7A7
8 837
3
9QC
16,714
3 302
4 602
3 936
3 965
4 211 — 1 707
353
3 792
864
1 332
AS 141
12 592
—472
4 408
2 994
2 952
2 238 —2 648
509
2 363
— 696
1 069
30 970
309
2,S49
231
5 397
—762
—508
217 — 1 184
22A
— A3
1 234
831
—405
3,177
S 184
7,059
—15 A
—549
509
602
790
251
2,966
1 634
1,821
687
—402
6
3,075
53
3,022
2,283
124
615
221
103
—575
30
—605
—678
82
—9
43
41
164
—97
_2
511
—8
519
(*)
88
431
12 371
—29
12 400
1 306
1 413
9 681
558
1 379
—195
303
200
103
753
181
572
16
—119
. . .
IV
III
Amounts
outstanding
March 31,
1976
3 081
—165
.
II
IP
4,488
—30
- - .
—642
780
661
119
902
724
1975
1975
I
A 1 Foreign official assets in the United States, net (table 1, line 51) ...
2
U S Treasury securities (table 1, line 53)
. ..
3
Bills and certificates
- ..
4
Denominated in U S dollars
5
Denominated in foreign currencies.
Bonds and notes marketable
6
7
Bonds and notes nonmarketable
8
Denominated in U.S dollars
9
Denominated in foreign currencies
Other
U S Government securities (table 1 , line 54)
10
11
Other U S Government liabilities (table 1, line 55)
U.S.
liabilities
reported by U.S. banks, not included elsewhere
12
(table 1 line 56)
Long-term
--- 13
Short-term
14
Demand deposits
- 15
Time deposits * •1 2
. _ - . _ _ .
16
Other obligations
- - 17
Other foreign official assets (table 1 line 57)
18
2
1974
675
849
-25
3
—28
874
—7
881
187
243
451
1 899
2 242
2 058
38
28
950
184
—343
—407
64
—1
38
27
2 743
1,875
173
210
—37
304
72
232
2 570
1,571
1 076
60
1,016
-22
22
2, 592
1,549
586
518
1 437
1,091
569
—60
—12
1,770 —1 452
—131
2 265 —2 517
2 953
2 78g
3
2,950
490
14
2,774
—593
642
4 787
1,340
2 725
—346
144
—69
213
—490
190
-680
-5
—21
—654
355
—253
1 210
608
23
585
10
4
571
160
—47
—16
—31
207
—55
262
21
3
238
459
422
37
751
—98
849
12
42
795
845
822
280
542
23
—27
50
50
5
—5
540
—51
31
—82
591
—9
600
212
229
159
587
—28
9
—37
615
—19
634
63
327
244
853
83
71
12
770
1
769
302
349
118
763
169
99
70
594
5
589
9
532
48
96
61
-77
138
35
-12
47
11
119
—83
4 365
—26
4 391
—373
—23
1,120
—137
—116
—20
—6
2 285 —2 511
1 152 —1 165
—168
304
829 — 1 178
1 209 —2 038
1 197
108
10
—151
na
6 IQ $2Q
118
217
2 373
— 940
1 187
—6
50
—992
—409
336
153
1 034
—308
—919
1 016
675
158
565
—60
695
—723
—258
—465
—9
44
—500
5 885
3 454
2 494
421
4
—67
71
417
271
146
11 286
1 082
2 379
896
—174
1 657
—449
828
—415
2 024
219
2 012
—634
12
—34 — 1 196
—282
—117
248 —1 079
1
-84
43
—31
289 —1 049
293
—6
—24
18
299
3
296
116
331
246
3 126
6 g Q2A
601
144
96
48
457
9
448
24
307
117
—189
—453
264
864
19
845
32
21
792
885
105
77
28
780
22
758
367
334
57
326
—214
426
—66
30 753
444
30
7
2
20
309
245
318
746
960
2 431
157
2 274
130
192
1 952
282
800
10 204
371
9 833
3,034
5 261
1 538
See footnotes on pages 50-51.
Footnotes to U.S. International Transactions Tables l-10a
General notes for all tables:
*> Preliminary.
*Less than $500,000 (±).
n.a. Not available.
B Break in series. See Technical Notes, June 1975 STJUV^Y, p. 25.
Details may not add to totals because of rounding.
Table 1:
1. Credits, -f: Exports of goods and services; unilateral transfers to the United States;
capital inflows (increase in foreign assets (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 foreign assets (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 (see line 14).
3. Excludes experts of goods under U.S. military agency sales contracts identified in Census
export documents, excludes imports of goods under direct defense expenditures identified in
Census import documents, and reflects various other adjustments (for valuation, coverage,
and timing) of Census statistics to a balance of payments basis; see table 3.
4. Consists of interest, dividends, and branch earnings.
5. 'Excludes reinvested earnings of foreign incorporated affiliates of U.S. firms or of U.S.
incorporated affiliates of foreign firms.
6. For all areas, amounts outstanding March 31,1976, were as follows in millions of dollars:
line 34, 16,941, line 35, 11,699, line 36, 2,351, line 37, 2,W, line 38, 671.
7. Includes sales of foreign obligations to foreigners.
8. Consists of bills, certificates, marketable bonds and notes, and nonmarketable convertible
and noncovertible bonds and notes.
9. Consists of U.S. Treasury and Export-Import Bank obligations, not included elsewhere,
and of debt securities of U.S. Government corporations and agencies.
10. Includes, primarily, U.S. Government liabilities associated with military sales contracts
and other transactions arranged with or through foreign official agencies; see table 4.
11. Consists of investment in U.S. corporate stocks and in debt securities of private corporations and State and local governments.
12. Conceptually, the sum of lines 71 and 66 (total, all areas) is equal to "net foreign investment" in tne national income and product accounts (NIPA's) of the United States. Beginning with 1973-IV, however, tne foreign transactions account in the NIPA's excludes the
shipments and financing of extraordinary military orders placed by Israel. Line 69 (total,
all areas) differs from net exports of goods and services in the NIPA's due to the omission in the
NIPA net exports of shipments of extraordinary military orders placed by Israel and of U.S.
Government interest income payments to foreigners. The latter are classified in a separate
category in the foreign transactions account in the NIPA's.
13. Includes return import into the United States, at a depreciated value of $21 million in
1972-1V and $22 million in. 1973-11, of aircraft originally reported in 1970-III in line 3 as a
long-term lease to Australia.
14. Includes extraordinary U.S. Government transactions with India. See "Special U.S.
Government Transactions," June 1974 SURVEY, p. 27.
June 1976
SUKVEY OF CURRENT BUSINESS
Table 2:
For footnotes 1-14, see table 1.
15. Seasonally adjusted data for line 53 are not available separately; they are combined with
data in line 56 through 1972.
Table 3:
1. Exports, Census basis, represent transaction values, f.a.s. (U S.) port of exportation, for
all years; imports, Census basis, represent transaction values, f.a.s. (foreign) port of exportation, beginning in 1974. For all prior years, imports reflect Customs (appraisal) values, f.o.b.
foreign country of exportation, and may differ from the actual f.a.s. transaction value at the
foreign port of exportation. The figures for exports and imports are as published by the Census
Bureau, except the year 1967; 1967 data have been adjusted to include trade in silver ore and
bullion which was excluded from Census trade figures prior to 1968.
2. Adjustments in lines 6 and 14, section A, and data in lines 8, 21, and 34, section B, for the
years beginning in 1970 reflect the reconciliation of discrepancies in the merchandise trade
statistics published by the United States and the counterpart statistics published by Canada.
Import data prior to 1970 reflect special adjustments made to Census statistics for inland
freight and automotive valuation. (See Technical Notes, June 1975 SURVEY, p. 25.)
3. Exports of military equipment under U.S. military agency sales contracts with foreign
governments (line 7), and direct imports by the Department of Defense and the Coast Guard
(line 15), to the extent such trade is identifiable from Custom declarations. These exports are
included in tables 1, 2, and 10, line 3 (Transfers under U.S. military agency sales contracts);
and the imports are included in tables 1, 2, and 10, line 17 (Direct defense expenditures).
4. Addition of electric energy; deduction of exposed motion picture film for rental rather
than sale; deduction of exports to the Panama Canal Zone; net change in stock of U.S.-owned
grains in storage in Canada; net 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 annual totals.
6. Addition of electrical energy; deduction of foreign charges fcr repair of U.S. vessels abroad,
which are included in tables 1, 2, and 10, line 20 (Other transportation); deduction of imports
from Panama Canal Zone; net 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.
7. Annual and unadjusted quarterly data shown in this table correspond to country and
area data in table 10, lines 2 and 16. Prior to 1973, "Western Europe excluding EC (9)" includes Denmark and Ireland.
8. Beginning with this issue the BEA definition for "petroleum and products" (Lines 12
and 29, section C and Line 56, section D) has been changed to include propane and butane,
in line with current Bureau of Mines and Federal Energy Administration practice.
9. The statistical identification of automotive products exports to Canada in section D,
line 34, is not as complete and comprehensive as the identification under the U.S.-Canada
Automotive Products Trade Act. However, the underestimation of automotive shipments
to Canada due to unreported exports, amounting to about $930 million in 1975, has largely
been corrected in section C, line 18.
10. Includes silver ore and bullion.
11. Prior to 1973, line 46, section D, includes reexports, and Line 55, section D, includes
imports of natural gas in transit through the United States from Western to Eastern Canada.
12. Includes nuclear fuel materials and fuels.
13. Includes downward revisions in the Census/Customs value to automotive imports from
Canada in 1969 and 1970 which have not yet been incorporated in the Census Bureau's published import statistics as shown in Line 48, section D. These revisions are valued at $31
million in 1970 and $26 million in 1969.
NOTE.—The "statistical discrepancy lines" in section B (lines IS, 26, and 39), section C
(lines 22 and 58), and section D (lines 47 and 91) show the difference between total exports and
imports and the sum of major items independently adjusted.
51
7. Lines C3 and C4 exclude recovery of investment value of aircraft on long-term lease
through physical return of depreciated aircraft.
TableS:
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. 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 petroluem refining and the smelting operations of mining
companies. "Other" industries includes industries other than petroleum and manufacturing,
the major ones being agriculture, mining and smelting, public utilities, transportation, trade,
insurance, finance, and services.
Table 6:
1. 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 (+)•
2. Redemptions consist of scheduled retirements and identifiable premature retirements of
U.S.-held foreign debt securities, and estimates for redemptions of Canadian issues held by
U.S. residents, based on Canadian statistics. Unidentifiable nonscheduled retirements appear
in line 30.
3. Consists of International Bank for Reconstruction and Development (IBRD), International Development Association (IDA), International Finance Corporation (IFC), Asian
Development Bank (AD B), and Inter-American Development Bank (IDB).
4. Mainly reflects exclusion of investments by foreign official agencies in U.S. corporate
stocks and in debt securities of U.S. Government corporations and agencies, private corporations, and State and local governments. These investments are included in table 1, lines 54 and
57.
5. 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.
Table?:
1. Consists of negotiable and other readily transferable foreign obligations payable on demand or having a contractual maturity of not more tnan 1 year, including loans payable on
demand. Excludes other types of loans acceptances and accounts receivable.
2. Includes funds obtained by finance subsidiaries incorporated in the Netherlands Antilles
from sources other than sales of newly issued securities to the extent that they are transferred
to U.S. parent companies.
3. Outstanding amounts as of December 31,1975.
Table 8:
1. Includes claims of U.S. banks on their foreign branches and those of U.S. agencies and
branches of foreign banks on their head offices and foreign branches of such head offices.
2. Mainly claims on U.S. branches in the Bahamas and Cayman Islands.
Table 9:
1. Time deposits with maturity of 1 year or less; negotiable certificates of deposit with a
maturity of 1 year or less are included in "other obligations."
2. Includes debt securities of U.S. Government corporations and agencies with a maturity
of 1 year or less.
3. Excludes long-term liabilities in line B8.
4. Coverage of line B4 is limited to Western Europe, Canada, Japan, Bahamas, and Cayman
Islands.
5. Consists of International Bank for Reconstruction and Development (IBRD), International Development Association (IDA), International Finance Corporation (IFC), Asian
Development Bank (ADB), and Inter-American Development Bank (IDB).
6. Outstanding amounts as of December 31,1975.
Table 4:
Table 10:
1. Expenditures to release Israel from its contractual liability to pay for defense articles and
services purchased through military sales contracts—authorized under Public Laws 93-199
and 93-559 (sec. 45(a)(7)(B))—are included in line A3. Deliveries against these military sales
contracts are included in line CIO; see footnote 2. Of the line A3 items, part of the military expenditures is applied in lines A38 and A41 to reduce short-term assets previously recorded in
lines A36 and C8; this application of funds is excluded from line C3. A second part of line A3
expenditures finances future deliveries under military sales contracts and is applied directly
to lines A37 and C9. A third portion of line A3, disbursed directly to finance purchases by Israel
from commercial suppliers, is included in lines A35 and C7.
2. 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.
Purchases by foreigners directly from commercial suppliers are not included as transactions
under military sales contracts. The entries for the several categories of transactions related to
military sales contracts in this and other tables are partially estimated from incomplete data.
3. The identification of transactions involving direct dollar outflows from the United States
is made in reports by each operating agency.
4. Line A33 includes foreign currency collected as interest and lines A38 and B2 include
foreign currency collected as principal, as recorded in lines A13 and A14, respectively.
5. Includes (a) advance payments to the Defense Department (on military sales contracts)
financed by loans extended to foreigners by U.S. Government agencies and (b) the countervalue of the part of line CIO which was delivered without prepayment by the foreign purchaser. Also includes expenditures of appropriations available to release foreign purchasers
from liability to make repayment.
6. Excludes liabilities associated with military sales contracts financed by U.S. Government grants and credits and included in line C2.
For Footnotes 1-14, see table 1.
15. The "European Communities (9)" includes the "European Communities (6)," the
United Kingdom, Denmark, and Ireland.
16. The "European Communities (6)" includes Belgium, France, Germany, Italy, Luxembourg, the Netherlands, the European Atomic Energy Community, and the European Coal
and Steel Community.
17. Includes transactions with U.S. affiliated shipping companies operating under the
flags of Honduras, Liberia, and Panama, and U.S. affiliated multinational trading, finance,
and insurance companies, not designated by country.
18. Details not shown separately; see totals in lines 51 and 58.
19. Details not shown separately are included in combined lines 64 and 65.
Table lOa:
For footnotes 1-13, see table 1.
14. Details not shown separately are included in combined lines 64 and 65.
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
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 EC(6) may not add
to the published totals for EC(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 EC(6) totals because of rounding.
SUEVEY OF CUEEENT BUSINESS
52
June 1976
Table 10.—U.S. International
[Millions
Western Europe
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 on4 U.S.
assets abroad:
Direct investments 5
Other private receipts
TJ S Government receipts
2
3
European Communities (9) «
United Kingdom
(Credits +; debits —) 1
Line
.
-
-
14
Transfers of goods and services under U.S. military grant programs, net.
15
Imports of goods and services
1975
1974
1973
1974
1975
1973
1974
1975
29,629
39, 135
41,025
23, 199
29,917
31,224
6,103
7,264
7,707
21, 231
586
559
302
1,774
1,179
297
441
99
28, 205
1,003
570
313
2,089
1,428
321
495
112
29, 850
912
611
354
2,282
1,722
343
574
133
16, 730
451
447
239
1,180
1,028
248
303
49
21, 791
629
437
241
1,445
1,231
264
339
59
22, 816
589
469
266
1,558
1,481
288
398
81
3,759
69
126
94
402
330
75
115
16
4,706
76
142
94
418
382
71
146
24
4,911
88
144
107
486
468
86
182
22
2,244
764
153
2,945
1,418
236
2,629
1,303
313
1,892
573
60
2, 257
1,067
156
2,117
1,009
153
716
305
98
532
579
94
538
585
91
279
190
78
-2
-1
-2
(*)
(*)
-33,557
-40,010
-36,653
-25,969
-30,659
-28, 193
-6,590
-7,712
-7,446
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..
-19,774
-2,457
-1,800
-1, 358
-1,878
-133
-146
-397
-190
B- 24, 267
-2, 630
-1, 600
-1, 533
-2, 201
-127
-156
-398
-221
-20, 763
-2, 643
-1,709
-1,733
-2, 223
-151
-168
-478
-251
-15, 816
-2, 173
-1, 154
-968
-1,239
-43
-127
-332
-106
B_19,244
-2, 267
-1,075
-1, 123
-1, 459
-34
-138
-351
-126
-16,513
-2, 295
-1, 195
-1, 264
-1,512
-27
-143
-448
-149
-3, 527
-343
-354
-358
-522
-20
-53
-220
-15
B_4,123
-306
-368
-405
-573
-16
-67
-230
-19
-3, 737
-336
-404
-455
-610
-10
-72
-309
-21
25
26
27
Payments of income on5 foreign assets in the United States:
Direct investments *
Other private payments
U S Government payments
- --
-546
-2,360
-2,518
-582
-S,668
-2,627
-741
-3, 250
-2, 543
-419
-1,400
-2, 192
-439
-2, 148
-2, 256
-610
-1,897
-2, 140
-263
-686
-229
-78
2
1
2
-50
«
97
-20
-38
-28
-274
-1,115
-216
-425
-959
-108
28
U S military grants of goods and services net
-279
-190
29
Unilateral transfers (excluding military grants of goods and services) ,
net
-242
-291
-195
30
U.S. Government grants (excluding military grants of goods and
services)
U S Government pensions and other transfers
Private remittances and other transfers
79
-333
13
-27
-367
104
-45
-374
225
(*)
-220
170
-246
244
-255
352
-35
15
-37
-1
-43
15
-4,983
-8,360
-6,146
-4,243
-6,021
-4,678
-1,779
-2,792
-3,286
233
3
-75
63
(*)
(*)
31
32
U S assets abroad net (increase/capital outflow ( — ))
33
34
35
36
37
38
U S official reserve assets net "
Gold
Special drawing rights _
Reserve position in the International Monetary Fund
Foreign currencies
39
40
41
42
U.S. Government assets, other than official reserve assets, net
U S loans and other long-term
assets
Repayments on U S. loans 7
_
-U.S. foreign currency holdings and U.S. short-term assets, net. .
43
44
45
46
47
48
49
50
(*)
(*)
3
(*)
(*)
3
("*)
(*)
3
._.
3
233
3
-75
63
-146
-737
562
29
-317
-890
591
-19
-428
-992
587
-24
69
-280
323
26
74
-219
324
-32
19
-290
339
-31
146
-69
201
14
145
-35
197
-17
77
-94
183
-11
U S private assets, net
__ _
Direct investments abroad 5
Foreign securities
U.S. claims on unaffiliated foreigners reported by U.S. nonbanking concerns:
Long-term
_
Short-term
U.S. claims reported by U.S. banks, not included elsewhere:
Long-term
^
"S h ort-t er m
-5, 070
-3, 070
-114
-8, 045
-3, 793
-582
-5, 643
-2, 265
-389
-4, 375
-2,714
-81
-6, 094
-2,750
-440
-4,700
-1,930
-37
-1,925
-847
-206
-2, 937
-920
-349
-3,366
-1,021
25
-92
-710
39
-1,012
52
-17
-29
-708
42
28
-99
-312
-75
-301
-25
-42
-178
-906
-509
-2, 188
-503
-2, 522
-74
-846
-248
-1,919
-250
-2, 553
2
-462
-182
-1,110
-272
—2, 032
Foreign assets in the United States, net (increase/capital inflow
(+))-
19,307
12,324
2,132
13, 651
4,666
2,324
2,674
2,217
-274
11,695
-1,341
51
52
53
54
55
56
57
58
59
60
61
Foreign official assets in the United States, net _ _
_ . .
U S Government securities
U S Treasury securities 8
>
Other &
Other U.S Government liabilities 10
- . ...
U.S. liabilities reported by U.S.
banks, not included elsewhere _
}
Other foreign official assets 11
Other foreign assets in the United States net
5
Direct investments in the United States
U S Treasury securities
- U S securities other than U.S Treasury securities
_ _ -
62
63
U.S. liabilities to unaffiliated foreigners reported by U.S.
nonbanking concerns:
Long-term
--Short-term
-
64
65
U.S. liabilities reported by U.S. banks not included elsewhere:
Long-term
__ _.
Short-term
Allocations of special drawing rights
Statistical discrepancy (sum of above items with sign reversed)
68
69
70
71
Memoranda:
Balance on merchandise trade (lines 2 and 16) 12
Balance on goods and services (lines 1 and 15)
Balance on goods, services, and remittances (lines 69, 31, and 32) _ .
Balance on current account (lines 69 and 29) l2
O)
316
881
(18)
99
(")
7,612
1,134
(18)
(18)
(18)
O9)
I
9
149
(18)
13,666
1,690
I
1, 251
1,107
(18)
(19)
-5
191
(IS)
C)
896
(19)
(19)
(19)
1,385
(19)
48
6
(19)
1,044
(19)
(19)
(if)
(19)
(19)
15
6
(19)
(19)
589
402
(19)
239
(19)
3,105
799
2,749
1,860
657
1,659
610
-80
666
101
205
112
1,087
158
-877
113
125
93
884
218
-1,035
99
42
-11
351
360
-619
"10,466
191,652
«432
191,286
19 1, 549
19 -935
1 o8)
66
67
See footnotes on pages 50-51.
(18)
8
-101
-559
(18)
(18)
-10,154
-2,799
-164
-6,588
2,100
-774
-388
1,061
3,326
1,457
-3,927
-4, 248
-4, 169
3,938
-875
-1,139
-1,166
9,087
4,373
4,223
4,178
914
-2, 770
-2,820
-2,820
2,547
-743
-745
-745
6,303
3,031
3,129
3,129
232
-488
-507
-507
583
-448
-486
-486
1,174
262
234
234
SURVEY OF CURRENT BUSINESS
June 1976
53
Transactions, by Area
of dollars]
European Communities (6) 16
1973
Eastern Europe
1975
1974
1973
Japan
Line
1974
1975
1973
1974
1975
1973
1974
1975
16,349
21,810
22,629
2,181
1,958
3,569
21,127
27,166
29, 606
15,509
23,505
25,463
10, 944
14,293
12,729
1
16, 539
532
274
137
891
819
187
177
30
17, 290
482
304
148
975
970
197
201
52
2,035
1,696
3,276
16, 710
59
1,072
21, 846
73
1,225
23, 537
93
1,561
55
86
76
5
29
3
11
40
5
9
67
6
329
416
32
287
13
387
541
38
323
6
417
566
37
456
6
9,960
63
1,229
176
540
269
48
468
74
15, 820
82
1,595
180
666
341
63
508
93
17, 123
117
1,999
169
763
389
67
602
101
8,356
47
334
263
526
170
273
112
66
10, 724
48
402
364
655
211
249
107
19
9,570
36
410
308
615
231
227
106
19
2
3
4
5
6
7
8
9
10
1,180
260
-43
1,695
474
55
1,541
412
57
37
16
77
45
90
44
977
1,226
6
1,180
1,537
10
1,218
1,700
15
1,520
1,006
156
2,036
1,867
254
1,603
2,282
247
216
554
27
225
1,258
30
191
984
33
11
12
13
-2
-1
-2
25
24
26
(*)
15
-11,257
-764
-131
-121
-608
4
-8
-64
-31
16
17
18
19
20
21
22
23
24
-12
-421
-713
-31
-326
-721
25
26
27
-708
-1,108
-885
-20,303
-25,485
-24,788
-13,320
-23, 696
-21,410
-12,145
-1,917
-693
-724
-827
-16
-68
-133
-124
-601
-4
-48
B-977
-1
-50
-736
-2
-69
-17,694
-167
-1, 158
B -22, 398
-165
-1,359
-21, 772
-167
-1,306
-35
-50
-45
-1
-2
-16
-2
-2
-18
-1
-3
-22
-270
-73
-6
-235
-14
-363
-83
-7
-249
-17
-385
-89
-7
-253
-19
-9, 644
-142
-1,970
-121
-366
(*)
-9
-368
-195
B- 18, 658
-312
-2, 369
-172
-544
-1
-7
-410
-218
-16,184
-146
-2, 666
-212
-528
-1
-7
-456
-248
-155
-705
-1,939
-163
-1,024
-2,018
-184
-931
-2,012
-7
-96
-351
-239
-98
-448
-298
-182
-357
-252
-28
-456
-21
-33
-937
-37
-61
-844
-59
-25
-24
-26
-66
-148
-173
-138
-588
-583
-653
-40
-241
-274
-261
2
2
1
2
6
71
160
-7
(*)
(*)
-62
-62
-1
-1
(*)
14
-14,057
-19,774
B- 14, 398
-1,913
-617
-640
-816
-17
-70
-116
-103
_2
(*)
-15,347
-21,896
-11,619
-1,775
-713
-550
-655
-23
-72
-107
-89
(*)
(*)
-9, 665 B- 12, 414
-824
-758
-102
-123
-86
-111
-726
-467
-1
3
-12
-13
-53
-49
-25
-29
-18,401
-12,366
-22
-379
-713
-43
29
2
2
30
-17
-28
31
32
1,597
33
-47
-189
261
-191
351
-15
-46
-18
-43
-20
-45
-85
-63
-97
-76
-102
-36
-76
-271
-13
-296
-100
-292
-16
-26
-18
-31
-2,399
-3,060
-1,402
-687
-140
-332
-1,525
-3,435
-4, 194
-3, 166
-10,904
-11,760
-2,099
-6,314
63
(*)
(*)
63
(*)
(*)
(*)
(*)
(*)
(*)
(*)
(*)
28
(*)
(*)
(*)
-167
173
34
35
36
37
38
-65
-187
112
10
-79
-167
107
-18
-57
-181
138
-14
-364
-506
124
18
103
-158
244
17
56
-215
250
20
-64
-74
9
1
-88
-99
13
2
-45
-64
19
(*)
-498
-860
363
-1
-720
-1,382
664
-3
-830
-1,375
547
-3
236
-217
444
9
11
-149
144
15
-4
-176
164
8
39
40
41
42
-2,397
-1,819
113
-2,981
-1,664
-97
-1,344
-923
-69
-323
-243
-388
-1,461
-581
-453
-3, 347
-643
-1,394
-4, 149
-482
-3, 068
-2, 668
-655
-91
-10, 184
-2,308
-93
-10,930
-1,347
-347
-2,335
-40
256
-6, 324
-439
516
1,601
40
-290
43
44
45
-7
-231
46
-411
66
67
-23
-62
6
-36
-5
-78
-36
-266
-118
-359
-120
-390
-99
-308
-322
-496
-253
-32
8
-415
13
-286
24
99
46
47
-58
-395
-45
-810
33
-519
-241
3
-127
-86
-265
-40
-84
-41
-11
-822
-54
-35
-97
-1,418
-498
-6,466
-882
-8,069
102
-2,246
-6,121
-38
1,766
48
49
10,541
2,755
2,605
70
198
-72
501
696
-714
2,573
4,309
3,390
-6,882
2,672
-543
50
(19)
(16)
(19)
-8
137
•
1975
Latin American Republics and
Other Western Hemisphere
12, 403
372
301
137
692
677
169
175
28
(*)
'
1974
1973
Canada
(19)
'(")
307
(19)
976
(19)
(19)
802
(19)
i
(19)
f
j
(19)
(19)
(19)
(*)
(19)
-3
(19)
(19)
(19)
(19)
-427
(18)
(18)
(18)
-154
(18)
(18)
35
928
850
386
541
80
(19)
314
78
65
46
(19)
(19)
(19)
(19)
(19)
(19)
f
1I
51
52
53
54
55
56
57
489
48
24
43
616
-42
28
10
31
5
39
53
-28
121
144
-291
108
53
35
29
68
-145
51
30
-51
62
63
19 21, 289
194,342
193,217
19 -8, 196
192,603
227
-1,008
7,369
4,971
10,444
4,743
317
66
67
1,765
4,818
4,680
4,680
316
2,189
1,841
1,600
-2,838
-192
-500
-774
939
4,053
3,661
3,400
-1,309
-1,423
-1,465
-1,463
-1,690
-1,054
-1,103
-1,101
-1,687
-1,328
-1,373
-1,371
68
69
70
71
30
4
37
15
-38
19421
191,356
"40
19157
19-49
-6,097
319
-4,218
-794
-847
-2,213
348
1,232
784
-2,052
-2,046
-2,046
2,141
-85
-14
-14
5,145
2,854
3,015
3,105
1,434
1,473
1,412
1,411
719
851
790
789
2,540
2,683
2,618
2,618
-984
824
676
676
-552
1,680
1,507
1,507
55
(19)
(19)
(19)
42
-140
-400
| 198,760
35
-212 1
(19)
149
111
519
14
80
(18)
(18)
(18)
-56
(18)
989
(*)
| (19)
58
59
60
61
(18)
736
1,244
-502
(18)
78
(19)
(18)
47
(19)
-36
(19)
159
287
(19)
(19)
368
(19)
64
19 -982 (
\ 65
SURVEY OF CURRENT BUSINESS
54
June 1976
Table 10.—U.S. International
[Millions
Australia, New Zealand, and
South Africa
International Organizations 7
and Unallocated
Other Countries in Asia
and Africa
(Credits +; debits -)i
Line
1973
Exports of goods and services ^
1
3
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 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.
assets abroad:
Direct investments * 5
Other private receipts
U S Government receipts
_ _
-_
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 assets in the United States:
Direct investments 4 5
Other private payments
U S Government payments -
_
._
.. .
28
U.S. military grants of goods and services, net...
29
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 _
30
31
32
U.S. assets abroad, net (increase/capital outflow (—))
33
1975
1974
1974
1973
1975
1973
5,191
4,929
18,237
32,201
29,890
972
1,326
1,199
2,247
189
79
82
104
183
31
63
2
3,757
68
83
91
167
209
38
61
2
3,509
41
107
92
152
221
37
59
2
10,871
1,399
139
152
764
250
26
337
141
16, 262
1,678
157
157
1,103
290
31
467
174
20, 268
2,698
188
142
1,016
345
38
637
164
342
46
506
51
407
52
223
2
248
2
277
2
438
103
36
541
148
25
539
147
24
3,209
510
439
10, 520
925
437
2,937
995
462
237
130
-7
401
126
-8
339
142
-20
2,504
1,603
2,128
-2,388
-2,597
-2,752
-14,045
-31,042
-30, 127
-1,562
-1,901
-1,468
-1,852
s -42
-58
-79
-47
(*)
-1
-22
-30
B-2,019
-20
-61
-98
-81
-2,242
-17
-65
-112
-67
-25, 196
-1,042
-471
-138
-650
-5
(*)
-84
-259
-56
-1,336
-64
-868
-1
-13
-26
B -22, 946
-1,150
-439
-125
-525
-4
i
-74
-240
-53
-1,086
-1
-15
-32
-11,269
-993
-369
-93
-442
-1
(*)
-76
-224
-1
-171
-1
-191
-1
-190
-3
-107
-148
-5
-100
-166
-6
-43
-162
-260
-242
-76
-4, 765
-485
-289
-1,106
-544
-632
-132
-119
-184
-133
-173
-173
-2,504
-1,603
-2, 128
-26
-26
-24
-2,567
K -5,722
-3, 160
-210
-282
-342
-1,567
14-4,893
-2, 247
-210
-282
-342
-7
-17
-161
-839
-175
-654
-194
-719
-750
-3,715
-1,022
-7,351
-314
-7
-19
_. .
56
-7
-19
-771
-2,445
-2, 194
-24
-1,437
-532
9
-33
-172
-1,265
-66
-466
-1,834
-2,674
826
14
-159
-164
5
-338
-344
6
-351
-357
6
-5,517
-2,366
-387
-132
-238
106
-670
-705
39
-1,311
288
-1,575
U.S. official reserve assets, net 6
Gold
Special drawing rights
Reserve position in the International Monetary Fund
Foreign currencies..
_
39
40
41
42
U.S. Government assets, other than official reserve assets, net. .
U S. loans and other long-term
assets
Repayments on U.S. loans 7... .
._
U.S. foreign currency holdings and U.S. short-term assets, net-
77
-113
189
2
47
-45
93
-1
-26
-85
77
-19
-1,727
-1,967
900
-660
Hl,669
-1.935
H3.072
i*532
43
44
45
-21
-119
27
-818
-397
18
-724
-177
-150
-1,988
-266
-401
-2,691
532
-358
-22
-24
8
-68
-21
33
-132
-197
-100
-489
48
49
U S , private assets, net. . _ 5_
Direct investments abroad
Foreign securities.
U.S. claims on unaffiiliated foreigners reported by U.S. nonbanking concerns:
Long-term
Short-term
U.S. claims reported by U.S. banks, not included elsewhere:
Long-term
Short-term
_
56
61
44
-423
-124
-285
-491
-500
-72
-2,205
-461
-1,702
50
Foreign assets in the United States, net (increase/capital inflow (+))
121
-359
-569
2,249
11, 606
10, 144
51
52
53
54
55
56
57
58
59
60
61
Foreign official assets in the United States net
U S Government securities
U S Treasury securities "
Other 9
Other U S. Government liabilities 10
-- --U.S. liabilities reported by U.S. banks, not included elsewhere
Other foreign official assets n
Other foreign assets in the United States, net
Direct investments in the United States 5
- U.S. Treasury securities
.. U.S. securities other than U.S. Treasury securities
.-.
(19)
(19)
62
63
U.S. liabilities to unaffiliated foreigners reported by U.S.
nonbanking concerns:
Long-term _ .
Short-term
64
65
U.S. liabilities reported by U.S. banks not included elsewhere:
Long-term.. ...
|
Short-term.
--..
66
67
Allocations of special drawing rights
Statistical discrepancy (sum of above items with sign reversed) . . .
68
69
70
71
Memoranda:
Balance on merchandise trade (lines 2 and 16)
Balance on goods and services (lines 1 and 15) i~2
Balance on goods, services, and remittances (lines 69, 31, and 32
Balance on current account (lines 69 and 29) 12
Footnotes on pages 50-51.
1975
3,556
34
35
36
37
38
46
47
1974
(19)
(19)
-80
•
-15
(19)
(19)
-1
(19)
(19)
(19)
22
309
1,019
(19)
(19)
(19)
(19)
-1
(*)
(*)
-3
-24
(*)
986
1,112
(*)
581
(19)
(19)
(19)
(19)
(19)
(19)
(19)
(19)
1,384
(19)
(19)
772
36
(*)
(19)
481
550
(19)
(19)
-61
-540
(19)
36
-484
-976
-5
3
15
93
36
380
36
45
29
13
-3
54
1
214
74
-492
7
670
19 -389
19-693
19620
19 10, 214
19 6, 685
19545
19 1, 470
192,088
-1,319
-1,438
-834
-160
-6,020
605
535
2,317
1,693
395
1,168
1,142
1,142
1,738
2,594
2,568
2,568
1,267
2,177
2,153
2,153
-398
4,192
3, 192
1,625
-6,684
1,158
329
-4,564
-4,928
-238
-1,151
-3, 397
-591
-591
-801
-576
-576
-857
-269
-269
-611
is 125
SUEVEY OF CUKKENT BUSINESS
June 1976
55
Transactions, by Area—Continued
of dollars]
European Communities (9)14
Western Europe
II
I
IV
III
I
IP
11, 123
9,834
9,308 10,761 10,308
8,465
220
111
49
540
399
83
138
31
7,056
191
166
83
591
466
85
142
45
6,504
205
195
149
604
408
87
146
29
7,825
296
139
73
548
450
88
149
27
7,508
354
142
59
576
410
88
153
43
711
331
46
652
302
56
578
321
82
688
348
130
569
345
60
26
31
4
17
-1
II
1975
1976
1975
1976
1975
III
IV
European Communities (6)15
United Kingdom
I
I*
1976
II
III
IV
1975
I
IP
II
Eastern Europe
1975
1976
III
IV
IP
I
717
II
1976
III
IV
Line
IP
7,334
7,144
8,332
7,924
2,107
1,849
1,789
1,962
1,781
6,107
5,257
5,135
6,130
5,910
655
752 ,445 ,080
1
6,413 5,317
115
168
129
83
64
36
414
363
342
401
69
71
99
96
32
18
4,993
147
153
116
411
354
73
101
15
6,093
160
104
50
369
384
75
103
16
5,882
200
106
44
391
357
75
106
30
1,482
21
25
14
119
104
18
43
7
1,172 1,103
13
36
47
41
25
46
127
120
129
106
23
20
45
46
5
6
1,154
19
31
22
119
129
25
48
5
1,125 4,798
139
40
54
34
17
21
224
126
226
108
24
49
49
49
9
8
3,996
98
82
36
266
264
49
50
25
3,735
107
100
66
256
237
49
51
g
4,761
137
68
26
229
243
49
51
10
4,595 652 592
156
67
25
244
12
10
239
50
3
3
53 14
16
1
20
1
687 ,345 ,009
555
257
15
443
233
17
505
244
31
614
275
90
449
265
20
127
143
5
100
145
5
177
161
75
417
111
9
289
93
9
404
97
25
431
111
14
-1
-1
8,414
(*)
-1
(*)
135
137
7
(*)
80
164
6
-1
(*)
(*)
-1
(*)
(*)
351
98
13
22
13
20
13
12
42
13
2
18
2
19
2
2
20
1
2
3
4
5
6
7
8
9
10
23
g
26
10
25
12
11
12
13
14
(•)
-9,328 -9,054 -8,997 -9,274 -9,180 -7,202 -7,015 -6,879 -7,097 -6,807 -1,877 -1,854 -1,863 -1,853 -1,799 -5, 123 -4,920 -4,755 -4,977 -4,759 -229 -198 -218 -240 -228
-5,650 -4, 904 -4, 744
-688 -665 -627
-187 -529 -698
-297 -569 -504
-547 -526 -582
-50
-38
-31
-40
-41
-43
-108 -116 -124
-64
-57
-65
-5,465 -5, 519 -4, 539 -3,918 -3, 768 -4, 288 -4, 195 -1,033
-571 -111
-663 -686 -602 -588 -542 -563
-129
-26
-295 -232 -105 -387 -483 -220
-251
-79
-363 -361 -205 -413 -367 -279
-388 -150
-569 -591 -368 -358 -396 -390
-3
-8
-6
-6
-7
-31 -48
(*)
-37
-35
-37
-18
-44
-35
-36
-45
-122
-67
-131 -130 -100 -109 -116 -123
-35
-42
-34
-5
-39
-66
-61 -35
-152
-473
-533
-145
-462
-518
-150
-484
-523
-155
-442
-482
-111
-241
-33
-851
-77
-177
-129
-161
-3
-18
-81
-5
-941
-70
-79
-116
-155
-1
-18
-86c
-969 -3,363 -2, 858 -2, 777 -3, 147 -3,046 -204 -153 -173 -206 -199
i
-80 -482 -499
-455 -482
-479
(*)
-29
-73 -239
-92
-25 -25 -13
-250 -131
-101 -113 -252
-134
-213 -146
-159 -199 -196
-216 -216
-208 -12 -11 -11 -12 -13
-4
-4
—2
(*)
(*)
-19
-16
-17
-17
-18
-18 (')
(*) (•) (*)
-32
-85
-33
-35
-34
-36 -1
[
-29
-34
—6 — (
-7
-33 -28
-27 ~~4 —6
16
17
18
19
2C
21
22
22
24
-99
-235
-29
-100
-236
-25
-115
-247
-21
-102
-221
-28
r
<*)
(')
1
1
-18
46
46
40
28
37 -15 -16
-11
-2
-11
-7
-46
93
-47
93
-42
82
-55
83
c
—6
-53
90 -10 -10
-785 -1,462
-639
165
-407
-492
-668
-172
-786
-624
-199
-820
-629
-180
-737
-589
-163
-477
-566
-26
-31
-4
-17
1
1
-29
-49
-51
-66
-56
32
30
30
5
12
-6
-8
-1
-13
-8
-17
-12
-9
-6
-91
69
-93
61
-87
48
-104
47
-101
51
-63
95
-63
92
-58
88
-72
77
-69
81
-11
5
-10
2
-11
9
-433 -1,451 -1,457 -2,805 -1,744
-280
-927 -1,263 -2,209 -1,612
-554
-484
-6
-42
-13
-491
1
-14
-6
-42
-13
-491
2
1
2
-20
-141
116
6
-71
-115
38
5
27
-63
94
-4
-193 -1,393 -1,363 -2, 694 -1,233
-288 -823
-6f -1,090 -917
-237
-38
-1£ -100 -243
-210
-151
-76
-52
-199
152
-5
2
588
62
79
-145
-113
-142
-532
101
1,641
(18)
50
(18)
-52
-211
131
21
3
(*)
(*)
-500
3
(*)
29
-35
55
8
-11
-26
10
5
47
—7
46
7
-956 -1,330 -2, 204 -1,141
-563 -332 -885
-774
-126
101
-301
65
-546
-277
-46
-531
-119
7
67
-24
72
19
34
-220
17
424
49
98
-84 -132
-699 -1,178
-72
185
-49
-375
-35
-379
3,782 -1,514
2,394
-686 -2,248
-451 -1,928
(18)
-14
(18)
(*)
-500
38
-233
-50
-451
-46 -1,706
(18)
-98
-257
209
-50
1,619 -2,256
(18)
64
49
(18)
-155
1 (*)
-45
-224
-488
-35
-237
-497
-52
-219
-448 (*)
C)
0
(*)
• (19)
-61
(19)
-14
-5
-88
134
-51
2
(*)
-2
2
(*)
19
-14
27
6
-56
-84
25
3
-19
-52
41
—7
56
-17
54
18
-38
-28
18
-28
-799 -1,491
-226 -399
27
37
-658
-466
-57
224
24
-33
-390
-422
-136
-548
-108
38
-630
-416
62
(
-84
57
-73
-12
-391
38
-297
34
-198
27
-223
24
194
42
84
-67
-210
-24
-110
30
-247
224
-78
-88
-621 -1,178
-120
251
-28
-413
-53
-492
-74
-249
-117
-878
-91
173
-16
32
-959
-184
-824
-7
742
84
2,567
-58
-296
(19)
2,864
(19)
-16
(19)
97
-85
(19)
(19)
-2
(19)
19
(19)
-7
(19)
5
(19)
11
-58
(*)
23
137
(19)
-31
(19)
94
-8
406
301
222
-492
2,163
755
251
-468
614
439
998
698
677
381
171
654
453
395
177
64
187
238
183
204
104
466
215
231
-139
54
-302
-100
-120
-27
-316
-143
49
243
-218
28
-372
-49
-159
-4
-286
-118
37
208
-194
85
-175
47
-175
20
-75
-63
-22
34
-23
-60
-188
-92
23
-22
-212
(18)
(18)
(18)
(18)
19468 19 -133 191,969
19-5
591 -3,763
-122
1,435
984
1,030
1,030
1,138
337
383
383
(18)
{ (18)
(18)
1,434
765
2,815
1,795
1,774
1,76
2,152
780
748
732
(18)
(18)
742
328
(18)
' (19)
519
(19)
(19)
(19)
(19)
(19)
(19)
742
(19)
(19)
225
(19)
(19)
(19)
(19)
(19)
66
-73
(19)
160
(19)
191,531 19-750 -2,210 191, 861 19-1,413 19-440 19-744 19-219
(19)
(19)
(19)
86
2,903 -2,398
2,i§6 -3,359
1,263
3,216 -1,895
i,44i
514
1,321
867
624
1,760
310
272
259
1,989
1,128
1,078
1,072
1,399
319
349
349
1,225
265
295
295
1,687
1,118
1,130
1,130
449
231
225
225
260
-5
-13
-13
252
-74
-75
-75
213
109
96
96
2,360
1,487
1,430
1,421
1,874
1,212
1,244
1,244
1,805
1,235
1,240
1,240
108
(19)
156
-18
-36
-36
(19)
441
(19)
-989
12 -113
-16 -19 -16
(19)
325
(19)
(19)
-624
(19)
18
28 -40
-34 -74 -49
84 32 -51
3(
(*)
-i!
—6
-11
31
35
-54 -178
137
32
(19)
660
(19)
-94
(19)
(19)
103
(18)
(19)
(*)
(*)
(19
(19)
(19)
2,273 -2,606
1,614
1,153
1,181
1,181
23 -13 32
-41 -54 -60
58 36
80
6
12
3?
4C
41
45
-77 -165
105
42
44
«
-11
-16 -5C ~"~36
46
41
-38 -104
-21 (*)
48
4£
(19)
(19)
(19)
(19)
217
-55
59 "-16
46
23
189 -135 -76 -36
14
-4
9-1,965 191, 357 9-1,701 9-35 9179
958
380
420
420
-6
-11
2i
34
3£
3(
3'
38
17
28
' 8
-16 -63 -56
78
25 78
t.
-1
i
-141
-498
-314
-249
(19)
(18)
-1,540
543
(*)
2?
146 -2,201 2,093 -1,471 -51
(19)
(*)
-500
29
-58
110
-23
13
-4
16
1
21
26
-500
(18)
(18)
(*)
(*72
(*)
-14
-227
-325
87
12
(•;
-53
-237
-499
-181
-796
-625
(*)
(*;
-51
-234
-528
-189
-849
-665
1 (*)
15
-912
-79
-122
-131
-145
-3
-18
-74
-7
-3
-11
9-121
(19)
(19)
5C
(19)
f
1
1
(
(19)
(
1I
(19)
(19)
-1
2
4
—7
51
52
K
54
55
56
57
58
59
60
61
62
63
64
9-72 19-42 |
I 65
1,273 -435 -518 -329 -932 -938
66
67
1,549 448 439 514
1,151 488 457 534
1,188 473 441 518
1,188 473 441 518
68
69
70
71
,139 810
,204 853
,185 837
,185 837
SURVEY OF CURRENT BUSINESS
56
June 1976
Table 10.—U.S. International
[Millions
Canada
(Credits +; debits -)
Line
1975
1 Exports of {foods &nd 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 on4U.S.
assets abroad:
Direct investments 5
Other private receipts
_ _ __
U S Government receipts
2
3
--
___
_ _ _ _ _
_
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 assets in the United States:
Direct investments4 6
Other private payments
U S Government payments
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
U.S. assets abroad, net (increase/capital outflow ( — )) _
_
U S official reserve assets, net 6
Gold
_
Special drawing rights.
Reserve position in the International Monetary Fund
Foreign currencies
39
40
41
42
U.S. Government assets, other than official reserve assets, net
U.S. loans and other long-term
assets. ._
Repayments on U.S. loans 7
U.S. foreign currency holdings and U.S. short-term assets, net
43
44
45
U.S. private assets, net
_
Direct investments abroad 5
Foreign securities
U.S. claims on unaffiliated foreigners reported by U.S. nonbanking concerns:
Long-term
Short-term _.
U.S. claims reported by U.S. banks, not included elsewhere:
Long-term
Short-term
_
6,953
7,997
8,047
6,408
37
542
II
III
IV
IP
6,133
6,421
6,204
6,705
6,347
4,382
30
491
39
190
104
17
145
30
4,029
38
551
45
199
102
17
151
24
4,469
33
538
48
193
86
16
164
25
4,172
40
452
41
194
84
17
174
26
6,330
32
369
5,419
17
444
6,304
23
268
88
124
10
99
1
108
130
10
109
1
108
133
9
119
2
112
179
8
129
2
101
141
9
129
2
4,243
17
419
38
181
97
18
142
23
232
400
195
426
5
279
420
3
511
455
6
232
443
2
372
537
48
387
543
64
393
593
63
452
609
72
445
649
55
6
8
4
8
3
_
62
63
U.S. liabilities to unaffiliated foreigners reported by U.S. nonbanking concerns:
Long-term
Short-term
64
65
U.S. liabilities reported by U.S. banks not included elsewhere:
Long-term
Short-term
_
66
67
Allocations of special drawing rights
Statistical discrepancy (sum of above items with sign reversed)
68
69
70
71
Memoranda:
Balance on merchandise trade (lines 2 and 16) 2
Balance on goods and services (lines 1 and 15) '
Balance on goods, services, and remittances 12(lines 69, 31, and 32)
Balance on current account (lines 69 and 29)
._ ._
-42
-86
-65
—37
-93
-60
-47
-85
-57
-49
-85
-58
-28
-37
-43
-26
-11
-28
-15
_ _ -1,336
-655
-430
-30
-21
-9
-11
-193
-16
-27
-215
-21
-12
-220
-15
-6
-8
-4
-8
-3
-30
-159
-161
-165
-168
-174
-29
-1
-64
-25
-70
-66
-23
-72
-59
-25
-81
-72
-26
-70
-72
-27
-75
-1,772 -2,350 -4,743 -4,201
81 -2,897 -4,635
-180
__
-2
-10
6
2
-1,314
-239
-646
-654
-48
-631
-42
-240
-6
-92
21
-151
51
93
(*)
-148
40
83
-47
213
-47
-183
-152
-93
-15
-105 -3, 398 -3, 790
-137
-288
262
-550
1,343
-127
-546
-1
172
537
|(,
-6
... } (")
-11
23
(18)
...
-168
-312
146
-1
-22
-25
1
2
(18)
-8
(18)
258
42
(18)
-10
-10
1
-1
-11
-20
11
2
-4
-6
1
-275
-398
109
14
-419 -1,761 -2,346 -4, 468 -4,033
-273
-695
-132
24
-219
18
-337
-437 -1,354 -2,004
(18)
(18)
-4
(18)
263
-49
(18)
53
(18)
-722
-71
(18)
-12
-200
-11
-11
-215
-8
_
Foreign official assets in the United States, net _
U.S. Government securities8
U.S. Treasury securities
...
Other 9
Other U.S. Government liabilities 10
....
U.S. liabilities reported by nU.S. banks, not included elsewhere ...
Other foreign official assets
Other foreign assets in the United States, net
Direct investments in the United States 5
U.S. Treasury securities
_
U.S. securities other than U.S. Treasury securities
__ __
7,716
-26
2
Foreign assets in the United States, net (increase/capital inflow (+))
See footnotes on pages 50-51.
6,941
I
5,484
21
480
_
34
35
36
37
38
51
52
53
54
55
56
57
58
59
60
61
IP
-56
-92
-71
29
50
IV
1976
-5, 176 -5, 483 -5, 165 -5, 948 -5, 927 -4, 209 -4, 020 -4, 225 -3, 730 -4, 172
-46
-32
-56
-50
-25
-35
-23
-27
-38
-47
-130
-685
-189
-675
-135
-638
-313
-674
-714
-639
-51
-55
-57
-70
-36
-73
-122
-108
-126
-136
-80
-102
-102
-138
-143
-24
-20
-26
-21
-24
(*)
(*)
(*)
(*)
(*)
2
2
-2
-2
-1
-2
-2
-2
-2
-2
-66
-134
-60
-111
-115
-64
-68
-63
-111
-120
-5
-55
-4
-4
-55
-59
-4
-64
-7
-69
_
U.S. military grants of goods and services, net
48
49
III
_
-
28
46
47
II
1975
-5,740 -6,210 -6,262 -6,576 -6,466 -5,513 -5,256 -5,610 -5,032 -5,499
16
17
18
19
20
21
21
23
24
33
1976
I
2
14
30
31
32
Latin American Republics and
Other Western Hemisphere
1
24
32
-23
-68
(18)
309
(18)
35
-3
(18)
807
45
(18)
19
I ( )
-33
(19)
34
130
-180
180
-184
-316
145
-13
-203
-348
147
_2
-10
-49
(19)
(19)
8
18
-76
-150
6
19
-8
(19)
-446
(19)
(19)
(19)
(19)
-301
-145
-109
-359
-278
1,344 -2,225 -3, 899
1,397
18
-132
-237
106
-1
445 -2, 874 -4,503
-53
-561
183
-217
-27
-1
1,665
(19)
180
(19)
-3
(19)
18
(19)
(19)
6
82
70
95
242
145
-10
16
17
20
130
3
-40
-3
18
36
12
17
-18
-10
3
94
56
9
18
-33
-44
-17
5
-14
92
(18)
(18)
19167 191,596 191,446
198
19 -678
(18)
(18)
301
-526
-480
931
-544
3,972
308
1,201
1,173
1,173
847
1,506
1,469
1,469
254
690
648
648
356
1,421
1,391
1,391
481
1,581
1,551
1,551
34
620
525
461
} (18)
1,531
362
1,165
1,070
1,005
-1,907
1,374
4,407
-196
594
489
430
739
1,673
1,576
1,504
(*)
848
746
674
SURVEY OF CURRENT BUSINESS
June 1976
57
Transactions, by Area—Continued
of dollars]
Other Countries in Asia and Africa
Australia, New Zealand, and South Africa
Japan
1975
1976
1975
1976
1975
II
III
IV
I*
1,204
1,185
1,378
1,254
International Organizations
and
Unallocated 17
1976
IP
7,235
7,952
8,357
4,949
624
66
57
260
62
10
165
43
5,084
825
41
33
263
141
10
172
39
5,011
724
43
31
262
90
10
172
42
104
14
95
15
103
14
67
(*)
68
(*)
646
247
107
928
271
145
1,582
258
132
37
52
1
48
152
47
IV
IP
I
3,085
3,094
3,041
3,174
1,163
7,137
7,567
2,611
9
112
92
150
56
56
25
4
2,358
9
99
50
155
60
56
26
5
2,264
11
134
90
163
63
57
27
5
2,337
7
65
76
149
52
58
28
5
2,403
9
115
85
160
58
59
29
5
844
11
18
20
34
59
10
18
(*)
863
8
26
25
39
54
10
15
1
830
11
36
30
42
54
9
13
(*)
972
11
27
18
37
55
9
13
' (*)
906
12
22
24
38
57
9
18
1
4,966
652
33
25
247
74
9
144
39
5,269
596
48
28
246
68
9
156
44
85
301
9
29
231
8
46
225
9
31
227
7
38
202
12
112
35
3
120
35
10
124
33
3
183
44
9
129
37
3
621
243
83
742
234
127
C)
(*)
765
1,163
-3,806
-3,268
-3,459
-3,525
-4, 149
-647
-685
-726
-694
-671 -7,297 -6,548 -7,795 -8,487 -9,713
-3, 098
-213
-18
-21
-163
1
_2
-14
-7
-2, 589
-184
-40
-38
-140
1
-2
-15
-6
-2, 716
-182
-38
-43
-154
2
-2
-17
-8
-2, 854
-185
-35
-19
-151
1
-2
-18
-9
-3, 471
-175
-19
-24
-180
1
_2
-18
-6
-516
-5
-22
-23
-17
-564
-4
-12
-29
-15
-593
-4
-15
-30
-17
-569
-4
-16
-30
-17
(*) o
-6
(*)
-3
-8
-553 -6, 101 -5, 402 -6, 590 -7, 103 -8, 202
-304
-280
-218
-4
-240
-230
-92
-100
-136
-20
-143
-110
-35
-20
-40
-43
-28
-25
-154
-152
-167
-178
-19
-178
-1
-1
-2
-1
-1
(*)
(*)
(*)
-22
-20
-19
-24
-24
-70
-64
-67
-9
-58
-66
10
-88
-193
-3
-73
-179
-30
-84
-186
-8
-81
-163
-22
-77
-156
-1
-12
-42
(*)
(*)
II
3,509
(*)
I
-3
-7
"-.
-6
_2
-10
-39
-2
-11
-45
-2
-10
-36
_2
-8
-24
(t)
II
-243
-136
-163
III
-235
-121
-140
-260
-137
-155
-368
-150
-173
-537
-154
-186
I
II
276
IV
III
192
277
Line
IP
454
297
1
105
8
108
12
70
1
72
1
74
(*)
2
3
4
5
6
7
8
9
10
24
10
-21
18
71
260
9
-301
-407
11
12
13
10
92
1
14
-354
-406
-382
15
-21
-221
-13
-205
-19
-227
-11
-215
-23
-238
(*)
-9
(*)
-2
(*)
-81
(*)
-98
(*)
-42
16
17
18
19
20
21
22
23
24
-58
-45
-44
-37
-29
-50
-41
-40
-33
-46
25
26
27
-1,163
-48
-152
-47
-9
-10
-12
-12
-11
-7
-6
-6
-6
-8
-829
-834
-639
-858
-735
-75
-139
-72
-57
-80
29
2
-3
-8
(*)
-4
-6
-2
-4
-2
-4
-2
-4
-2
-6
-422
-50
-167
-637
-51
-169
-502
-54
-179
-75
-80
-1
-5
-581
-44
-209
-57
-5
-6
-606
-49
-174
-72
-5
-7
-139
-5
-7
30
31
32
683
1,462
-392
-156
203
1
-303
-65 -1,336 -2,553 -1,472 -1,990 -1,568 -1,037
-164
-210
-783
320
33
-23
-120
-78
-282
-4
-307
-16
-7
-25
-95
-21
-57
-45
-237
34
35
36
37
38
-107
-110
3
39
40
41
42
709
506
205
43
44
45
(*)
-765
-142
-306
28
-311
[
1976
IV
III
I
1975
-304
-545
203
38
-27
-66
41
-2
34
-51
79
7
(*)
-25
24
1
-12
-34
20
2
12
-25
36
0
-16
-11
2
-6
19
-22
41
(*)
-10
-6
2
-5
-19
-46
34
-7
-1
-8
2
5
710
-22
-114
1,427
80
-69
-392
-204
-21
-144
187
-86
191
-279
-106
17
28
22
—322
-103
125
-132
-79
5
-287
-23
-51
-64
25
-19
11
-89
4
70
3
-13
6
131
3
18
-3
25
-14
-2
-1
47
-3
-37
-7
5
21
-3
-24
-141
-58
-200
-196
-15
199
12
913
-18
1,360
-1
-156
-31
351
4
550
-1
-54
-1
-77
-16
-87
-106
-67
-51
-16
-142
-493
-59
-432
-121
-437
-139
-340
-46
-207
236
-49
202
2,035
91
409
-123
-946
-12
1,741
2,609
2,118
3,675
3,852
(lfl)
-220
(19)
(19)
(19)
-109
-112
3
-45
-45
-88
-91
3
-110
-110
-907 -1, 862 -1,16S -1, 579
-139 -1,031
-333
-863
-152
-41
-175
-20
-9?3
-731
-123
—617
-1*5
-464
-96
-136
39
-2
448
-449
-595
131
-701
46
47
2
(*)
547
(*)
(*)
-1
(*)
-25
-2
-583
385
764
-205
48
49
50
(19)
(19)
(19)
(19)
(19)
(19)
(19)
(19)
(19)
(19)
(19)
(19)
(19)
(19)
(19)
(19)
(19)
I
5
21
(19)
12
(19)
17
(19)
-2
(19)
8
12
(19)
(19)
5
341
(*)
389
279
375
1,593
f
(19)
(19)
(19)
(19)
(19)
I
154
(19)
244
(19)
42
-40
20
-19
-645
-939
306
-12
-691
-885
206
-12
f
(19)
26
0")
-932
-411
-587
195
-19
-428
-657
221
7
7
-52
| "469 19 -180
-614
-1,221
-487
-297
-308
-306
-231
-183
-192
-192
190
( ()
102
(19)
36
1
(19)
(19)
' 25
4
3
2
-4
17
-4
1
7
14
-4
-13
19-99 19-1,172
191,916
"69
1,584
-1,252
-517
-483
-496
-496
-1,068
-975
-986
-986
7
3
567
-452
-365
-377
-377
(
"~5
(*)
(19)
(*)
161
241
258
61
75
210
37
316
89
5
156
2
39
2
-6
29
24
-1
5
2
109
19377
19 -158
19 -981
19-18
-602
-619
-188
575
-499
328
516
509
509
299
519
513
513
237
458
453
453
359 -1,170
(19)
6
34
403
684
678
678
191,094 191,603 191,417 192,571 193,351
584
353 -1,135
583
-160
-383
576
-989
576
-339
(19)
-204
(19)
-450
(19)
17
(19)
30
51
52
53
54
55
56
57
58
59
60
61
62
63
19885 19 -379
19835
f
19747 19 -235 I
64
65
-292
-193
644
995
26
27
50
66
67
-133 -1,641 -2,019
1,019
-535
-561
765
-778
-755
184 -1,199 -1,393
-3, 191
-1,356
-1,589
-2,090
-79
-79
-154
-109
-109
-248
-130
-130
-201
49
49
-8
-86
-86
-165
68
69
70
71
-240
554
SUEVEY OF CUEEENT BUSINESS
58
June 1976
Table 10a.—International Transactions, by
[Millions
Belgium-Luxembourg
(Credits +; debits -)»
Line
1973
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 4U.S.
assets abroad:
Direct investments S
Other private receipts
U S Government receipts
_
_ _
.
_ _.
.-
--
-
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 8
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 assets in the United States:
Direct investment * 5
Other private payments
U S Government payments
--
1973
1975 f
1974
1,905
1 Exports of {foods and services ^
2
3
4
5
6
7
8
9
10
France
1974
Germany
1975 P
1973
1974
1975 *
2,914
2,981
3,103
3,919
4,124
5,487
6,984
7,068
1,628
5
15
5
53
85
8
19
2
2,368
8
14
13
74
110
10
19
2
2,495
8
14
9
78
128
12
26
3
2,322
4
76
35
122
176
43
38
6
3,009
7
63
37
162
197
46
47
6
3,106
15
68
36
158
266
44
45
12
3,750
316
137
66
198
224
63
57
10
4,735
445
126
56
264
267
78
46
13
4,928
373
145
60
294
311
80
61
27
116
20
-51
249
42
5
143
61
4
187
81
13
169
162
14
221
139
14
636
58
-28
853
92
9
705
72
12
n.a.
n.a.
n.a.
n.a.
n.a.
-1,648
-2, 155
-1,731
-2,725
-3,317
-3,241
-9,550
-10,544
-9,466
-1,274
-56
-25
-45
-50
-1
-8
-11
-10
-1,660
-55
-31
-60
-57
(*)
-11
-8
-10
-1,184
-52
-39
-61
-54
(*)
-12
-16
-1,741
-18
-237
-113
-79
-1
-16
-25
-31
-2, 339
-14
-198
-137
-90
-3
-14
-28
-39
-2, 144
-23
-226
-160
-96
-3
-16
-24
-37
-5,591
-1,507
-170
-160
-304
-17
-37
-42
-31
-6,302
-1,547
-153
-180
-398
-14
-34
-42
-35
-5,357
-1,539
-174
-220
-406
-15
-31
-55
-41
-5
-113
-50
-6
-201
-56
-9
-181
-114
-31
-180
-253
-34
-266
-155
-27
-219
-266
-12
-180
-1,499
-9
-245
-1,583
-11
-238
-1,379
n.a.
Q
28
U S military grants of goods and services, net
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
29
Unilateral transfers (excluding military grants of goods and services) net
-18
-10
-8
-45
-49
-38
203
271
334
-3
-15
-3
-4
-4
-13
-32
-15
-34
-16
-22
-65
268
-77
348
-84
418
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
U.S. assets abroad, net (increase/capital outflow (— ))
-152
34
35
36
37
38
39
40
41
42
U.S. official reserve assets, net 6.
.
Gold
...
Special drawing rights
Reserve position in the International Monetary Fund
Foreign currencies
. -. . . . . U S Government assets, other than official reserve assets, net
U.S. loans and other long-term
assets
Repayments on U.S. loans 7. ... - ...
.. _ .
U.S foreign currency holdings and U.S. short-term assets, net
43
U S private assets net
44
45
46
47
48
49
50
.
Foreign assets in the United States, net (increase/capital inflow (+))
58
59
60
61
Other foreign assets in the United States, net
Direct investments in the United States 5 ,
U.S. Treasury securities
_
.
U.S. securities other than U.S. Treasury securities
._
-
62
63
64
65
U.S. liabilities reported by U.S. banks not included elsewhere:
Long-term
Short-term
43
°n
' (*)
37
-21
56
2
43
3
-14
10
7
-502
-327
(*)
....
-16
-22
7
-1
-18
-24
6
(*)
-7
-43
31
5
-20
31
(*)
-66
-54
12
-24
(*)
-43
-51
22
-14
-568
-150
-828
-731
-1,158
-1,001
-436
-284
-301
-12
-173
14
-404
-13
-390
-114
-372
-202
-920
-2
-123
10
-504
66
-3
-25
-5
-22
-3
-16
-17
-75
-10
-148
4
130
2
-80
-14
-44
3
-39
-4
-27
9
-237
-4
32
-28
-291
-17
-52
17
-735
-6
9
12
-277
29
161
783
1,596
69
-157
1,305
4,017
7,862
-2,675
(14)
(14)
(14)
(14)
(14)
1
(14)
(14)
18
(*)
(14)
(14)
259
(14)
|
Allocations of special drawing rights
Statistical discrepancy, and transfers of funds between foreign areas, net (sum of
above items with sign reversed).
-955
(*)
-111
20
(14)
..
U.S. liabilities to unaffiliated foreigners reported by U.S. nonbanking concerns:
Long-term
Short-term _
. . . .
See footnotes on pages 50-51.
-1,121
-150
(14)
_
. _.
Memoranda:
Balance on merchandise trade (lines 2 and 16) .
Balance on goods and services (lines 1 and 15) 12 -_. . Balance on goods, services, and remittances (lines
69, 31, and 32) .
Balance on current account (lines 69 and 29) l2
-720
-835
(*)
(*)
-2
-11
8
1
-
Foreign official assets in the United States, net
U.S. Government securities.
. .
.. . _ .
U.S. Treasury
securities 8
Other 9
...
Other U.S. Government liabilities 10
U.S. liabilities reported by U.S. banks, not included elsewhere
Other foreign official assets n
68
69
70
71
-168
-
51
52
53
54
55
56
57
66
67
-584
(*)
Direct investments abroad 5
.
__
Foreign securities
U.S. claims on unaffiliated foreigners reported by U.S. nonbanking concerns:
Long-term
_
__
___
Short-term
U.S. claims reported by U.S. banks, not included elsewhere:
Long-term
Short-term
_
_
_ .
n
n.a.
86
8
(14)
-45
(14)
146
(14)
168
(14)
(14)
252
(14)
(14)
(14)
75
12
7
(14)
(14)
-763
-59
-68
(14)
(14)
(14)
57
-18
317
(14)
76
24
68
82
73
13
-163
-168
(14)
247
150
50
39
653
303
345
-39
40
59
380
-78
-224
21
-28
-21
50
22
-57
14 372 i* 1,021
"359
14 -957
"798
143,443
147,881 14 -3, 164
14 -849
-1,761
-1,143
659
-1,138
-3,741
-3,047
6,466
3,154
708
759
749
749
1,311
1,250
1,242
1,242
581
378
333
333
670
602
553
553
962
883
845
845
-1,841
-4,063
-3,860
-3,860
-1,567
-3,560
-3,289
-3,289
-429
-2,398
-2,064
-2,064
-870
354
257
239
239
SURVEY OF CURRENT BUSINESS
June 1976
59
Selected Countries (published annually)
of dollars]
Italy
1974
1973
Netherlands
1975 »
1973
1975 9
1974
1975 v
1974
1973
Australia
Venezuela
Mexico
1973
1974
1975 *
1974
1973
South Africa
1975 P
1973
1974
Line
1975 P
2,695
3,444
3,610
3,152
4,540
4,773
4,369
6,793
7,535
1,917
2,611
2,912
2,247
3,142
2,819
951
1,473
1,575
1
2,140
25
46
23
123
116
40
40
5
2,757
37
43
22
167
147
39
42
5
2,855
60
41
34
187
159
42
87
6
2,558
21
27
8
197
76
16
22
4
3,665
3,834
35
28
10
225
98
14
22
4
2.962
25
(*)
830
36
10 1
11
41
258 1
80
106
16
20
105
32
3
5
4,860
(*)
1,142
48
95
20
128
3
5,169
(*)
1,490 i
CO
oz
113
24
133
3
1,027
11
1,780
11
2,250
14
1,250
183
53
89
118
35
29
47
44
1
2,147
63
55
58
90
137
22
42
1
1,796
35
72
60
85
149
21
42
1
746
(*)
7
4
33
41
10
10
(*)
1.159
(*)
10
6
51
52
12
13
(*)
1,301
(*)
12
6
40
59
11
10
(*)
2
3
4
5
6
7
8
9
10
74
49
14
64
106
15
101
73
15
166
53
4
360
72
7
371
67
9
98
214
20
112
360
25
621
79
8
477
143
9
351
73
33
406
100
21
454
84
20
70
30
(*)
122
43
(*)
73
63
(*)
11
12
13
n.a.
156
362
33
(
141 1
1
27
1
61 1
1
267
142
10
51
54
133
18
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.
n.a.
14
-2,767
-3,508
-3,324
-1,747
-2,298
-2,022
-3,895
-5,294
-5,151
-1,981
-5,149
-4,050
-1,517
-1,506 -1,537
-418
-670
-905
15
-2,005
-133
-218
-103
-125
-1
-8
-28
-13
-2, 589
-212
-188
-122
-144
-1
-6
-29
-15
-2,391
-227
-194
-120
-147
-1
-5
-30
-19
-1,036
-62
-63
-129
-98
-3
-4
-2
-4
-1,432
-83
-47
-141
-127
1
-5
-10
-5
-2,307
-1,082
i
-76
-60 [ -1,264
-163
-53
-125
4
(*)
-4
(*)
-204
-15
-12
-7
-3,391
-1
-1,475
-66
(*)
(*)
-229
-12
-1,814
-3,057
-1
-13
-1,637
I
-78
-88
(*)
(*)
-255
-16
-4,777
-57
-3,730
-3
-1,072
is -37
/
-36
-52
-30
-99
(*)
-1
-17
1
-22
-1,051 -1,151
-11
-13
-39
-38
-66
-76
-49
-43
(*)
(*)
(*)
(*)
-6
-9
-16
-23
-378
-1
-7
-3
-11
(*)
-1
-3
-6
-611
-1
-5
-5
-23
(*)
(*)
-8
-846
-1
-11
-6
-16
(*)
(*)
-2
-8
16
17
18
19
20
21
22
23
24
—8
-96
-29
—5
-123
-74
—8
-115
-67
— 101
-136
-109
— 109
-189
-151
(*)
-37
-159
—3
-3
-2
—5
-6
-3
—6
-6
-3
25
26
27
28
— 128
-179
-187
(*)
-53
-1
—1
-119
-1
—1
-104
-2
-66
(*)
-102
-214
1
(*}
-185
-33
(*)
-104
-146
(*)
-93
-163
-3
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.
-125
-129
-120
-10
-12
-10
-136
-156
-167
-9
-11
-8
-15
-14
-13
-7
-8
-8
29
—5
-49
-102
-2
-56
-109
-2
-1
-6
_2
-1
-8
_1
-1
-6
-5
-10
-5
-9
-5
-8
-1
-7
-1
-7
30
31
32
-1,232
-1,489
-62
62
-826
208
-311
-357
-382
-337
(*)
-84
-41
-91
-38
-289
-525
(*)
-84
-36
-3
-7
-4
-8
-4
-6
—1
-43
-92
55
-176
-742
148
-380
(*)
20
(*)
20
-54
—53
1
-2
(*)
-11
-56
45
(*)
10
-37
45
2
-278
-535
43
-142
-197
33
-336
11
26
26
-11
-30
16
-162
-12
-61
172
33
2
-11
-384
-326
43
-82
-2
-159
4
-53
11
44
45
-8
14
-20
-10
5
-49
-12
19
46
47
30
-224
-49
-69
-18
13
14
-199
-75
-216
48
49
-410
-691
8
44
128
50
3
-50
55
-2
-89
-138
47
2
-68
-122
54
(*)
18
-15
33
(*)
14
—27
41
(*)
20
—22
42
(*)
83
—96
179
(*)
60
—20
83
-3
20
-45
68
-3
-711
205
-383
-1,143
-1,421
-80
48
-846
125
-371
-377
-187
74
-515
9
102
27
-55
-18
-193
12
-31
-170
124
8
343
6
-215
39
-9
29
-176
14
-104
-161
-1
12
25
-21
59
-35
63
-21
-15
-50
-63
-62
-67
-40
-9
-40
-114
-55
-305
24
-3
-14
3
-18
-35
-29
5
-25
-8
-25
-14
-215
-14
48
-74
-171
-237
-600
-273
-840
-28
-135
54
-186
-6
-383
74
48
1,354
-1,529
1,876
1,165
801
504
485
365
400
2,059
-81
107
(14)
(14)
-31
—36
2
3
-117
34
35
36
37
38
39
40
41
42
-57
—59
3
-1
12
-25
39
-2
-1
-6
2
2
2
-119
-11
x
(l4)
|
(M)
27
14
50
( )
(14)
6
(")
113
(14)
-2
-16
1444
(14)
84
2
(14)
-2
-16
(")
(")
(")
-12
22
1
63
(14)
347
(14)
(14)
320
(14)
319
26
14
( )
536
(14)
360
4
(*)
( )
-1
O4)
11
14
-3
-9
-28
-1
2
18
i* 1,212 i* -1,505
"1,419
"554
w -92
"480
(U)
(*)
(14)
4
5
25
(*)
(14)
(14)
5
1
1
(14)
5
(14)
(14)
(14)
14
-69
44
-6
26
(14)
(14)
4
12
15
(14)
(14)
13
(14)
-1
(14)
-1
(*)
(14)
(14)
-79
(14)
-34
(14)
(14)
-1
5
11
14
50
31
41
1
(*)
23
18
i*437
i*332
i*375
1*2,012
i* -121
1*115
18
(")
20
-17
(l4)
(14)
3
1
1
1 5 57
6
(14)
(14)
(14)
(14)
(14)
(*)
(14)
(14)
(*)
(*)
(14)
(14)
(14)
(*)
(*)
1
3
15
-5
32
-16
2
-1
6
6
14 -412 i* -727
51
52
53
54
55
(14)
-2
29
14(*)
i* 15
36
-5
55
1*39 j{
58
59
60
61
62
63
64
65
314
-636
1,308
-3,095
-2,653
-3,690
-462
-596
-1,093
-265
428
2,053
-1,030
-901
221
-417
-457
-453
66
67
135
-72
-197
-197
168
-64
-193
-193
464
1,522
1,405
1,395
1,395
2,233
2,242
2,230
2,230
2,752
2,751
2,741
2,741
655
474
339
338
1,469
1,499
1,348
1,343
2,112
2,384
2,219
2,217
-787
-64
-71
-73
-2, 999
-2,538
-2, 547
-2,549
-1,480
-1,138
-1,145
-1, 146
178
730
715
715
1,096
1,636
1,622
1,622
645
1,282
1,269
1,269
368
533
526
526
548
803
795
795
455
670
662
662
68
69
70
71
286
166
166
SUKVEY OF CUEEENT BUSINESS
60
Continued from p. 81
Presentation of the Balance of Payments Statistics. The complete report
of the Advisory Committee is printed
beginning on page 18 of this issue.
The three overall balances—the official reserve transactions balance, the
net liquidity balance, and the balance
on current account and long-term capital (the basic balance)—are no longer
published. Balance of payments statistics continue to be published in at least
as much detail as in the past, except
that the distinction between liquid and
nonliquid short-term assets has been
discontinued.
Revisions
As is customary each June, statistics
on U.S. international transactions were
revised to incorporate new information.
Seasonal adjustments for current account items and for changes in U.S.
Government assets were recalculated,
using the revised data and extending
through 1975 the period used to derive
adjustment factors. In the capital accounts, seasonal patterns for changes
in U.S. private assets and in foreign
assets in the United States were severely disrupted beginning in 1973 as
a result of changes in the international
monetary system, the removal of U.S.
controls on capital outflows, and the
impact of the extraordinary petroleum
price rise. Seasonal adjustments for
these accounts are suspended beginning
with the year 1973.
For most accounts, the data and
seasonal adjustments for 1974 and 1975
were subject to larger revisions than
data for earlier periods. The most extensive revisions were as follows (line
references are to tables 1,2, and 10):
1. International transactions of
temporary workers (U.S. residents
working abroad for less than one year,
and foreign residents—Mexican and
Caribbean—working in the United
States for less than one year) are reported on a gross basis instead of a net
basis as in previously published estimates. The changes affect private miscellaneous
service receipts
and
payments (lines 9 and 23). This treatment conforms with that in the national
income and products accounts (see
January 1976 SURVEY, Part 1, p. 11).
2. Merchandise imports into Guam,
which have expanded sharply in recent
years, are entered in line 16. No estimates are entered for merchandise
exports from Guam, which are believed
to be very small.
June 1976
3. Estimates for gifts sent abroad
via parcel post were rebenchmarked
in 1975. The revised data are incorporated in merchandise exports (line 3)
and in private remittances (line 32).
4. U.S. stocks purchased by foreign
official agencies are shifted to foreign
official assets in line 57 from other
foreign assets in line 61.
5. Foreign official assets in the United
States (line 51) include U.S. Government liabilities primarily associated
with military sales contracts and other
transactions arranged with or through
foreign official agencies (line 55). These
are excluded in line 73 and were excluded from foreign official assets
in the former balance of payments
presentation.
Geographic detail
In addition to the usual quarterly
statistics by geographic area (table 10),
estimates for transactions with Belgium
and Luxembourg, France, Germany,
Italy, Netherlands, Mexico, Venezuela, Australia, and South Africa for
the years 1973-75 are shown in table
lOa. Data for Venezuela appear for the
first time.
Table D.—Major U.S. International Transactions with Petroleum Exporting Countries 1
[Millions of dollars]
(Credits (+); debits (-))
1974
1975
Exports of goods and services:
Merchandise, adjusted, excluding military.. _
Transfers under U.S. military agency sales contracts
Fees and royalties from affiliated foreigners
Income on U.S. direct investment abroad.. _
Income on U.S. Government assets abroad
6,330
10, 125
1 590
10, 635
3,285
105
120
-17, 230
-435
—4 800
-18,915
-325
—1 100
-35
-25
U.S. Government assets
U.S. direct investment abroad
-210
1,290
-1,990
Claims reported by U.S. banks:
Long-term
Short-term
-500
-640
-125
-340
-340
-285
10,840
300
925
6,880
1,000
1,035
-7,865
-520
_
._
_ ..
..
860
180
150
Imports of goods and services:
Merchandise, adjusted, excluding military
Direct defense expenditures
Income on foreign direct investment in the U.S
_
_
_
U.S. Government grants (excluding military)
_ ._
U.S. assets abroad, net (increase/capital outflow (— )) :
Claims reported by nonbanking concerns:
Long-term. .
Short-term.
75
.
...
--
-45
(*)
Foreign assets in the United States, net (increase/capital inflow(-f)):
Foreign official assets in the United States
Direct investment in the United States
Other foreign assets _
...
_
.
All other transactions and transfers of funds between foreign areas, net
--•_
* Less than $500,000 (±).
1. Partly estimated. Based on data for Venezuela, Ecuador, Indonesia, and petroleum-exporting countries in the Middle
East and Africa.
U.S. GOVERNMENT PRINTING OFFICE: 1976 O - 209-2
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 $6.80) provides a description of each series, references
to sources of earlier figures, and historical data as follows: For all series, monthly or quarterly, 1969 through 1972 (1962-72 for major quarterly
series), annually, 1947-72; for selected series, monthly or quarterly, 1947-72 (where available). Series added or significantly revised after the 1973
BUSINESS STATISTICS went to press are indicated by an asterisk (*) and a dagger (t), respectively; certain revisions for 1972 issued too late for
inclusion in the 1973 volume appear in the monthly SURVEY beginning with the August 1973 issue. Also, unless otherwise noted, revised monthly
data for periods not shown herein corresponding to revised annual data are available upon request.
The sources of the data are given in the 1973 edition of BUSINESS STATISTICS; they appear in the main descriptive note for each series, and
are also listed alphabetically on pages 189-90. Statistics originating in Government agencies are not copyrighted and may be reprinted freely.
Data from private sources are provided through the courtesy of the compilers, and are subject to their copyrights.
1973
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes areas shown in
the 1973 edition of BUSINESS STATISTICS
1975
1974
1973
I
1974
III
II
IV
I
II
Annual total
1975
III
| IV
I
II
1976
III
IV
I
Seasonally adjusted quarterly totals at annual rates
GENERAL BUSINESS INDICATORS—Quarterly Series
NATIONAL INCOME AND PRODUCTf
Gross national product, totalf
bil.$
1 306 3 1 4069 1 498 9
1 265 0 1 2878 1 319 7 1 3527 1 3709 1 391 0 1 4244 1 441 3 1 4336 1 4606 1 528 5 1 572.9 1,620 4
Personal consumption expenditures, total. .do
808.5
885.9
963.8
785.7
800.5
818.4
829.5
849.5
877.8
907.7
908.4
926.4
950.3
977.4
1,001.0
1,029.6
Durable goods, total 9
. do
Motor vehicles and parts .
do
Furniture and household equipment... do
122 9
54.4
50.7
121 9
48.0
54.7
128. 1
49.5
57.4
124 8
58.2
49.3
124 4
56 4
50.4
123 7
54.4
51.2
118 9
48.4
51.9
118 4
46.1
53.4
123 1
48.7
55.0
128 9
53 5
55.9
117 3
43 6
54.3
118 9
44 6
54.1
123 8
46.1
57.0
131 8
52.1
58.3
137. 6
55.1
60.4
145.9
62.1
61.3
Nondurable goods, total 9
Clothing and shoes
Food
Gasoline and oil ..
do . _
do
do
do .
334.4
61.4
168 0
28.3
375 7
65.2
189 4
36 4
409.8
69.9
209. 1
40.3
321 4
60.1
161 2
26 7
328 0
60.9
164 3
27 4
339 6
61.9
171 4
28 5
348.5
62.8
175 2
30.6
359 8
64.3
181 3
31.7
371.9
65.3
185 4
37 1
383 9
66 5
193 2
38 2
387 1
64.8
197 4
38 8
394 1
66.7
202 8
38 1
404 8
69.0
206 6
39 6
416.4
71.3
211 4
41 2
423.7
72.5
215.6
42.1
430.8
73.5
219.3
42.2
do
do
do _ _
do
351 3
50 3
123.1
27 g
388 3
56 4
136 0
30 9
426.0
63.3
148.8
34.1
339 5
48 2
118 9
27 2
348 2
49 8
121 9
27 6
355 2
51 4
124 7
28 0
362 2
51 9
126.8
28 5
371
52
131
29
2
7
4
7
382 8
55 6
134.2
30 4
394
57
137
31
404
59
140
32
0
2
7
1
413 4
60 6
143 9
33 0
421 6
63 1
147.0
33 5
429 2
64 7
150.2
34 2
439.7
64.9
154.1
35.5
452.9
67.0
157.8
36.4
Services total 9
Household operation
Housing
_
Transportation
..
.
Gross private domestic investment, total
Fixed investment
Nonresidential
Structures
Producers' durable equipment
Residential
.
Change in business inventories
Nonfarm
Net exports of goods and services
Exports
Imports
. . .
do .
220 5
212 2
182.6
211 7
217 1
221 2
231 9
218 4
212 7
207 6
210 3
168 7
161.4
194.9
205.4
232.2
do
do
-do
do .
203 0
136 5
49 0
87.5
202
147
54
93
5
9
4
5
197.3
148.5
52.7
95.8
199 3
131 0
46 3
84 8
202 8
134 5
47 7
86 7
205 6
138 5
50 3
88 2
204 2
141 8
51 5
90.4
203 5
145 9
53 4
92.5
203 4
146 6
54 1
92.4
203 1
148 1
54 0
94 1
199 8
151 1
56 1
95.0
193 5
149 3
54 9
94.4
191 1
146 1
51.1
95.0
197 1
146 7
51.2
95.6
207.4
151. 9
53.6
98.3
216.7
158.1
55.5
102.6
-do
do
do .
66.5
17.5
14 1
54.6
9.7
11 6
48 7
-14.6
— 16 5
68 2
12.4
10 1
68.3
14.3
11 0
67.0
15.6
11 0
62.4
27.7
24 0
57.6
14.9
14 1
56.9
9.3
11 0
55.0
4.4
76
48.7
10.4
13 7
44.2
-24.8
—23 3
45.0
-29.6
—29.6
50.4
-2.1
-5.7
55.4
-2.0
-7.5
58.6
15.5
11.3
7 4
101 5
94 2
77
144 2
136 5
21 3
147 8
126 5
20
89 4
87 4
45
96 6
92 1
10.2
105 2
95.0
12 8
114 9
102 0
15.6
133 1
117.5
40
141 6
137 6
32
148 6
145 5
8.2
153 6
145 3
17.3
148 2
130.9
24.2
140 7
116.4
22.1
148.5
126.4
21.7
153.8
132.1
r 144. 9
269.9
102 0
73 4
168 0
301.1
111 7
77.4
189 4
331.2
123 2
84 0
208 0
265.7
104 1
74 0
161 6
265.7
99 9
73.0
165 8
270.0
100 0
72.3
170 0
278.4
104 0
74 2
174 5
287.5
106 1
74.8
181 4
296.5
108 9
75.8
187 6
305.9
113 6
78 4
192 3
314.4
118 2
80.5
196 3
321.2
119.4
81.4
201 9
324.7
119.2
82.1
205.5
334.1
124.2
84.9
209.9
344.8
129.9
87.4
214.8
349.2
131.1
87.0
218.1
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: t
Final sales, total
.
Goods total
Durable goods _ _
Nondurable goods
Services
Structures
.
Change in business inventories..
Durable goods
.
9
9
4
4
do
do
do
do
do
do
do
. do
1 288 8 1 397 2 1 513 5 1 252 6 1 273 5 1 304 1 1 325 0 1 356 1 1 381 7 1 420 0 1 430 9 1 458 4 1 490 2 1 530.6 1,574.9
718.7
683.5
701.1
690 9
637 3
582 3
660 2
573 9
589 7
565 6
600 1
620 6
640 2
626 5
607 9
276.7
267.5
237 7
239.3
243.8 258.8
261 7
231 4
228 8
228 2 230 2 230 2
245 8
226 5
238 5
433.5 442.1
424.7
398 0
416 4
353 5
429 2
359 5 369 9
394 4
345 6
376 6 383 0
388 0
339 0
705.9
688.1
649.7
659.3 672.0
681 3 540 8
602 1 612 0 632 5
559 5
624 1
552 7
565 8
578 8
150.3
141.4
134.6
138 9
143 9
141 3
147 0
148 6
146 1
146 1 149 1 147 2
146 6
146 3
147 0
-2.0
-2.1
-14.6
10.4 -24.8 -29.6
9.3
4.4
17.5
27.7
14.9
12 A
14.3
15.6
9.7
-6.8
-5.6
14.9 -14.6 -15.5
— 10 6
2.7
11 4
13 5
67
95
59
10 3
75
68
4.8
3.5
-4.0
-4.4 -10.2 -14.1
8.2
—1.4
7.2
4.2
14.2
6.5
2 2
56
4.9
'9.3
'154.2
r
l ,604.9
723.9
282.0
441.9
r 726. 9
154.1
15.5
-4.6
20.0
GNP in constant (1972) dollars!
Gross national product, totalf
bil. $.. 1 233 4 1 2107 1 186 1 1 2277 1 2284 1 236.5 1 240.9 1 228 7 1 217.2 1 210.2 1,186.8
1,158.6
Personal consumption expenditures, total.. do
Durable goods
Nondurable goods
Services
do ..
do
do
Gross private domestic investment, total.-.do
1,168.1 1,201.5
1,216.2
rl,241.8
766.3
759.8
766.9
765.8
766.2
770.5
762.8
760.0
763.2
767.2
748.9
752.3
764.1
771.6
779.4
794.5
120 9
309.6
335 8
112 5
303.0
344 4
109 5
306.6
350 7
124 0
310.6
331 2
122.7
308.2
335 3
121.2
311.4
337 9
115.7
308.3
338 9
114.7
304.5
340 8
115.5
303.8
343 9
116.8
304.7
345.7
102.9
298.9
347.2
104.0
300.8
347.5
106.5
306.9
350.8
112.3
308.0
351.2
115.3
310.7
353.3
120.8
315.7
358.0
138.3
207.4
180.0
Fixed investment
Nonresidential
..
Residential
Change in business inventories
do
do
do
do
191 4
131 3
60 1
16.0
172 2
127 5
44 7
7.7
Net exports of goods and services
do
7.2
16.6
205.0
206.1
206.0
212.6
195.9
183.8
173.2
166.9
129.7
124.1
147.8
151.4
168.1
8
2
6
5
193 2
128 6
64 5
11.9
192 5
130 2
62 3
13.6
191 8
132 4
59.4
14.2
188 2
133.9
54.3
24.4
183 6
134 5
49.1
12.4
177.0
129.9
47.1
6.8
169.0
125.0
44.1
4.2
159.3
120.8
38.5
7.6
148.7
115.2
33.6
-19.0
144.8
110.8
34.0
-20.7
148.7
110.6
38.0
-.8
153.0
112.3
40.7
-1.6
157.5
115.5
42.0
10.7
23.4
2.1
5.6
8.9
12.1
18.7
15.3
15.1
17.4
21.5
24.9
23.5
23.8
••17.4
148
112
36
— 10
Govt. purchases of goods and services, total, do
252.5
254.3
257.6
254.7 250.5
Federal _ . . _
.
do
94 9
96 1
95 0
94 3
100 4
State and local
do
156.3
159.3
163.3
154.3 155.5
r
Revised.
p Preliminary.
t Revised series. Estimates of national income and
product and personal income have been revised back to 1946 (descriptive material and earlier
data appear in the Jan. 1976 SURVEY, Parts I and II); revisions prior to Nov. 1974 for personal
261.6
258.7
254.9
255.1
251.1 253.5
254.0 255.0 254.7 253.6
96.1
94.9
92.4
93.7
94.7
94.7
94.7
95.7
94 9
94 2
165.5
163.8
162.5
161.4
160.2
158.9
158.5
159.3
159.0
156.9
9 Includes data for items not
income appear in table 2.2 in the Jan. 1976 SURVEY.
separately.
S-l
209-299 O - 76 - SI
261.7
95.8
165.9
shown
SURVEY 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
1973
1 1974
1 1975
1973
Annual total
III
June 1976
1974
IV
I
II
1975
III
IV
I
II
1976
III
IV
I
II
III
GENERAL BUSINESS INDICATORS—Quarterly Series—Continued
NATIONAL INCOME AND PRODUCTf— Con.
Quarterly Data Seasonally Adjusted at Annual Rates
Implicit price deflators:t
Gross national product
Index, 1972=100
Personal consumption expenditures
do
Durable goods
do _
Nondurable goods
do
Services
do
Gross private domestic investment:
Fixed investment-- - do
Nonresidential
do
Residential
do
Govt purchases of goods and services
do
Federal
- do .
State and local
do
105. 92
105.5
101.7
108.0
104.6
116.20
116.6
108.4
124.0
112.7
126. 37
125.7
116.9
133.6
121.5
106.73
106.2
102.0
109.0
105.1
109.01
108.8
102.8
113.1
106.9
111.58
111.8
103.2
118.2
108.9
114.28
115.0
106.6
122.4
111.3
117.70
118.3
110.4
126.0
114.2
121.45
121.3
114.0
129.5
116.4
123.74
123.1
114.4
131.0
119.0
125.04
124.4
116.3
131.9
120.2
127.21
126.7
117.4
135.2
122.2
129. 33
128.4
119.4
136.4
124.4
130. 49
129.6
120.8
136.5
126.5
106.0
104.0
110.6
106.9
106.1
107.5
117.6
116.0
122.1
118.4
117.6
118.9
132.6
132.3
133.3
128.6
130.6
127.4
107.2
104.7
112.9
107.5
106.1
108.3
108.5
106.0
114.9
109.8
109.5
110.0
110.9
108.5
117.4
113.2
112.1
113.8
115.0
112.9
120.7
116.3
114.9
117.1
120.2
118.5
124.9
120.1
118.6
121.0
125.4
125.0
126.7
124.0
124.8
123.6
130.1
129.6
131.6
125.9
127.3
125.1
131.9
131.8
132.3
127.3
128.9
126.4
132.6
132.6
132.5
129.2
130.9
128.2
135.5
135.3
136.1
131.8
135.3
129.8
137.7
136.9
139.7
133.5
136.9
131.5
1, 067.3 1,141.1
1,207.8
1,161.3 1,155.2
1,122.3 1,129.6 1,151.3
1,180.8
1,232.5
1,262.6
1,303.3
do
do
. d o
do ...
do
do
797.7
700.9
552.3
22.1
126.5
96.8
873.0
763.1
603.0
22.3
137.7
110.0
921.4
801.6
627.3
23.0
151.3
119.8
805.4
707.6
558.2
21.8
127.6
97.8
828.0
727.1
573.9
22.5
130.6
101.0
843.9
738.7
583.1
22.3
133.2
105.2
863.9
755.6
597.6
22.1
135.9
108.3
886.3
774.3
613.6
21.9
138.8
112.0
898.1
783.6
617.7
23.0
142.9
114.4
897.1
781.0
611.7
22.9
146.4
116.1
905.4
787.6
615.0
22.8
149.7
117.8
928.2
807.3
631.9
22.8
152.6
120.9
955.1
830.7
650.5
23.6
156.5
124.4
982.6
851.5
668.8
23.6
159.0
131.1
Proprietors' income with inventory valuation
and capital consumption
adjustments,
total
bil. $..
Farm
do
Nonfarm
do
Rental income of persons with capital consumption adlustment
bil $
91.7
32.4
59.3
85.1
25.6
59.5
83.3
24.6
58.7
95.0
35.2
59.7
96.0
36.8
59.3
93.0
33.7
59.3
81.8
22.3
59.5
82.1
21.9
60.2
83.6
24.6
59.0
79.6
21.0
58.6
78.6
20.1
58.5
88.0
29.3
58.7
87.1
28.2
58.9
85.0
25.3
59.7
21.3
21.0
21.1
21.3
21.1
21.1
21.0
20.9
20.9
20.8
20.5
20.9
22.0
22.7
1 AA 9
Q1 ^
1 AA O
QO Q
100 4.
QQ fi
94 3
89 2
82 0
78 Q
96 6
113 1
112 7
r
91.7
17.4
74 3
43.8
24.0
82.5
17.3
65 3
37.4
11.8
100.1
16.2
83 9
45.2
17.8
91.4
17.4
74 0
42.6
23.8
92.0
17.9
74 1
42.4
20.9
85.9
17.2
68 7
40.9
16.5
87.2
17.1
70.2
39.8
11.6
82.0
18.3
63 7
37.0
9.7
75.1
16.5
58 6
31.9
9.2
77.6
18.3
59 3
30.0
8.9
95.7
15.5
80.2
43.5
16.0
113.4
14.9
98 6
54.6
24.5
113.6
16.1
97 4
52.8
21.9
r 124. 4
'17.4
C
70
11.0
8
Q
6.8
5.9
86
6.5
82
7.7
6 2
14.4
73
8.8
77
10.0
67
11.0
51
5.8
7 9
5.8
11 3
6.2
11 0
5.8
9 5
••7.0
117.0
48.2
68.8
27.8
40.9
132.1
52.6
79.5
31.1
48.4
116.8
45.6
71.2
32.8
38.4
115.8
47.8
68.0
28.1
39.9
119.1
48.6
70.5
29.5
41.0
128.3
49.4
78.9"
30.0
48.9
129.6
52.6
77.1
30.9
46.2
146.7
59.3
87.4
31.7
55.7
123.9
49.2
74.7
31.7
43.0
97.1
37.5
59.6
32.1
27.5
108.2
41.6
66.6
32.6
34.0
129.5
50.7
78.8
33.5
45.3
132.4
52.5
79.9
33.1
46.8
r 142. 8
r57.1
18 4
1 C
56.3
38 5
10 8
19 5
7
61.3
28 0
7
64^8
-33.7
—1 7
68.7
—54 7
27
72.7
13 7
45
78.7
—6 6
50
79.7
99
65
82.2
13 1
11 4
81.6
17 9
1A
57.6
37 7
70.7
85.7
89.2
1,054.3 1,154.7 1, 245. 9 1,067.8 1,098.8 1,115.9 1,136.6 1,171.6 1,194.8 1,203.6 1,223.8 1,261.7 1,294.5
168.4
142.1
162.1
175.3
171.2
174.6
151.2
153.7
158.9
169.2
178.9
179.6
180.5
996.3 1,015.9 ,024.0 ,081.7 1, 087. 1 1,114.0
914.1 939.9
953.8 968.2
903.1 983.6 1, 076. 7
901.4
974.2 1,001.3 1,025.4
931.7
932.4
950.4
872.6
840.3 853.4
830.4 909.5
987.8
66.8
107.5
81.2
64.6
85.9
86.5
74.0
83.6
73.6
73.8
72.7
88.9
88.6
1,325.2
184.4
1,140.7
1,054.5
86.2
National income totalf
bil. $
Compensation of employees, total
Wages and salaries total
Private
.
Military
Government civilian
Supplements to wages and salaries
Corp. profits with inventory valuation and capital consumption adjustments, total
bil. $..
Corp. profits with invent, val. adj.:
Domestic, total
do
Financial
--do
Manufacturing, total 9
do
Durable goods
do
Transportation, communication, and
electric, gas, and sanitary serv
bil. $ . .
Rest of the world
do
Profits before tax, total
Profits tax liability
Profits after tax
Dividends
Undistributed profits
do
do....
do
do
do
Inventory valuation cidjustment
Capital consumption adjustment
Net interest
do
do
do
8
9 ^
c 7
1,078.1 1,106.8
A 9
76.7
a A
r
123 9
107. 1
59.5
25.2
••85.7
33.3
'52.4
7 fi
DISPOSITION OF PERSONAL INCOME f
Quarterly Data Seasonally Adjusted at Annual Rates
Personal income total
Less: Personal tax and" nontax payments
Equals: Disposable personal income
Less* Personal outlays©
Equals: Personal saving!
.bil. $
do
do
do
do
NEW PLANT AND EQUIPMENT
EXPENDITURES
Unadjusted quarterly or annual totals :
All industries
Manufacturing
Durable goods industries 1
Nondurable goods industries ^
bil $
do
ao
do
99.74
38.01
19.25
18.76
112. 40
46.01
22.62
23.39
112. 78
47.95
21.84
26.11
25.04
9.62
4.84
4.78
28.48
11.43
5.84
5.59
24.10
9.49
4.74
4.75
28.16
11.27
5.59
5. 69
28.23
11.62
5.65
5.96
31.92
13.63
6.64
6.99
25.82
10.84
5.10
5.74
28.43
12.15
5.59
6.55
27.79
11.67
5.16
6.51
30.74 r 25. 87 ' 130. 51 i 30. 49
13.31
13.30 r 10. 96 ' 13. 08
5.73
5.99 '4.78 '5.64
r
7.43
7.58
7.30 '6. 18
, do
.do
do
do
do .
61.73
2.74
1.96
2.41
1.66
66.39
3.18
2.54
2.00
2.12
64.82
3.79
2.55
1.84
3.18
15.42
.69
.48
.57
.44
17.05
.71
.56
.60
.47
14.61
.68
.50
.47
.34
16.89
.78
16.61
.80
.64
.43
.58
18.29
.91
.78
.48
.71
14.98
.91
.59
.44
.62
16.28
.97
.71
.47
.77
16.12
.94
.62
.50
.85
17.44 r 14. 91 ' 17. 43 17.18
' .95
.95
'.92
.97
. 56
.62
.49
' . 43
.34
'.26
.43
' .86
.80
'.72
.93
do
do
do
-do.-.
.do
18.71
15.94
2.76
12.85
21.40
20. 55
17.63
2.92
13.96
22.05
20.14
17.00
3.14
12. 74
20.60
4.82
4.04
.77
3. 19
5.24
5.36
4.54
.82
3.53
5.83
4.38
3.85
.52
5.30
4.56
.75
3 60
5.20
4.42
.78
3 on
5.57
5.67
4.80
.87
4.94
4.15
.79
3 99
5. 19
5.07
4.16
.91
5.70
4.85
.85
'4.79
'4.18
'.62
5.97
4.42
3.84
.58
3. 11
4.88
5.00
5.52
"V o
'4.82 ' ' 8. 88
100.90
38.81
19.73
19.08
103.74
40.61
20.48
20.13
107. 27
42.96
21.43
21.53
111.40
45.32
22.50
22.82
113.99
47.04
23.08
23.96
116. 22
48.08
23.28
24.80
114.57
49.05
22.86
26.20
112.46
48.78
22.59
26. 19
112.16
47.39
21.01
26.38
111. 80 ' 114.72 '1121.14 i 123.00
46.82 ' 49. 21 ' 52. 28 54.06
21.07 ' 21. 63 ' 22. 68 23.42
25.75 ' 27. 58 ' 29. 60 30.64
62.09
2.82
1.95
2.49
1.79
63.12
2.76
2.05
2.20
1.73
64.31
2.80
2.10
2.13
1.63
66.08
3.07
2.42
2.21
1.84
66.94
3.27
2.68
1.84
2.16
68.14
3.56
3.05
1.81
2.71
65.52
3.76
2.39
2.09
2.82
63.68
3.78
2.70
1.60
2.75
64.76
3.82
2.75
2.12
2.99
68.93
64.98 ' 65. 51 '68.86
3.82 '3.83 ' 3. 68 3. 85
2.37
2.39 ' 2. 08
1.65 ' 1.18 r' 1. 47 1.45
3.32
2.96
3.56 '3.29
19.80
18.58
Public utilities
do
16.72
16.00
Electric
do
3.08
2.58
Gas and other
do...
1 7 94.
Communication
do. . 21.35
21.36
Commercial and other
do...
r
Revised.
* Preliminary.
1 Estimates (corrected for systematic biases) for Apr.June 1976 and July-Sept. 1976 based on expected capital expenditures of business. Expected
2
expenditures for the year 1976 appear on p. 17 of the June 1976 SURVEY.
Includes communication.
|See corresponding note on p. S-l.
9 Includes data for items not shown
20.12
17.12
3.00
iq on
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 ^
Nondurable goods industries 1
Nonmanufacturing
Mining.
Railroad
Air transportation
Other transportation
do
do
do
do
do
do .
do
do
do
. 61
. 49
5.05
'5.74
' 4. 90
' .84
5.82
4.87
.96
2
8. 71
20.91 ' 21. 91 ' 22. 81 22.90
19.52
19.79
20.16
20.93 20.28
19.54
17.92 ' 18. 56 ' 19. 46
17.03
16.41
16.58
17.47
17.76
3.00 '3.36 ' 3. 35 3. 36
3.21
3.25
2.68
3.17
3.11
1 q QA
19 95
12 22
12 54
12 50
14 04
13 36
14 01
20.44 '20.68 '235.42 2 35. 41
22.04
20.82
22.84
20.83 20.34
21.63
21.69
separately.
0Personal outlays comprise personal consumption expenditures, interest
paid by consumers to business, and personal transfer payments to foreigners (net).
§Personal saving is excess of disposable income over personal outlays.
lIData for individual durable and nondurable goods industries components appear in the
Mar., June, Sept., and Dec. issues of the SURVEY.
20.97
18.10
2.87
SURVEY OF CURRENT BUSINESS
June 1976
1974'
1973 r
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notesareas shown in
the 1973 edition of BUSINESS STATISTICS
1973 r
1975 r
I
Annual total
S-3
II
1974 '
III
IV
I
II
1975 r
III
IV
1976 P
1
II
III
IV
I
36, 945
27, 020
35, 767
25, 848
37, 098
26, 610
38, 600
27, 655
38, 596
26, 939
GENERAL BUSINESS INDICATORS—Quarterly Series—Continued
U.S. BALANCE OF INTERNATIONAL
PAYMENTS
Quarterly Data Are Seasonally Adjusted
(Credits +; debits -)
Exports of goods and services (excl. transfers under
military grants)
_
mil. $_. 102, 154
71, 410
Merchandise adjusted excl. military
do
Transfers under U.S. military agency sales con2,342
tracts
mil. $._
Receipts of income on U.S. investments
13, 997
abroad
mil. $
14, 405
Other services
_.do
144, 773 148, 410
98, 310 107, 133
24, 166
16, 960
26, 308
18, 463
29, 340
20, 570
33, 382
22, 460
35, 667
24, 212
37, 234
25, 036
38, 491
26, 602
2,952
3,897
347
455
531
1,009
638
683
781
850
915
807
978
1,197
1,158
26, 233
17, 278
18, 219
19, 162
3,123
3,455
3,304
3,447
3,576
3,738
3,995
3,766
6,217
4,067
6,550
4,222
7,046
4,371
6,420
4,619
4,376
4,634
4,474
4,638
4,660
4,850
4,709
5,039
5,419
5,080
-98, 249 -141,187
Imports of goods and servicesll
do
-70,499 -103,679
Merchandise adjusted excl. military
do
-4, 629 -5, 035
Direct defense expenditures H . _
do
Payments of income of foreign investments in the
-16,006
-8,819
U S
mil. $
-14,303 -16,466
Other services
- do
Unilateral transfers (excl. military grants), net
mil. $.. -3, 883
-1,938
U.S. Government grants (excl. military)
do
-1,945
Other
do
22, 342
15, 417
-132,141 -22,789 -24,070 -24,823 -26,569 -30,563 -35,613 -37,449 -37,562 -34,350 -30,716 -32,813 -34,264 -37,538
-98,150 -16,360 -17,208 -17,742 -19,189 -22,605 -25,700 -27,374 -28,000 -25,585 -22,598 -24,511 -25,456 -28,447
-4, 780 -1, 169 -1,231 -1,067 -1,162 -1, 153 -1,298 -1, 265 -1,319 -1,317 -1, 185 -1,093 -1,185 -1,162
-12,212 -1,799 -2, C96 -2, 413 -2,511 -2, 933 -4,513 -4, 689 -3,871 -3, 252 -2, 943 -2,978 -3, 039 -3, 290
-16,999 -3, 461 -3, 535 -3, 601 -3, 707 -3,872 -4, 102 -4, 121 -4, 372 -4, 195 -3, 990 -4, 231 -4, 584 -4, 639
-7, 184 -4,620
-5, 475 -2, 893
-1,710 -1,727
-759
-361
-398
-1,029
-621
-408
-909
-494
-415
-1, 187 -2, 977 -1,850 -1,261 -1,098 -1,179 -1,146 -1,044 -1,251 -1,138
-463 -2, 606 -1,399
-811
-660
-748
-712
-615
-818
-658
-724
-371
-451
-450
-438
-431
-434
-429
-433
-480
U.S. assets abroad, net _.. ._ ... do. . -16,434 -33, 392 -31,131 -6,563 -2, 432 -1,569 -5,872 -7,915 -10,013 -5,210 -10,252 -8,001 -7,943 -4, 223 -10,964 -9,512
17
-15
220
-13
-210
-358 -1,003
-607
137
-325
209 -1,434
-29
-342
U S official reserve net
do
89
-773
-574
-608 -1,042
1,389
365 -3, 463
-423
267
-354
-2,645
-937
-899
-772
-840
-952
-674
U.S. Gov't, other than official reserve, net. ..do
-2,
027
-6,209
-4,814
-9,
922
-32,
323
-948
-9,094
-3,
854
-27,061
-6,777
-9,453
-13,
998
-7,
074
-3,
109 -10,101 -8,065
U.S private net
do
-975
-549
-977 -1,137 -1,485 -1,900 -3,231 -1,510 -2, 334
-770 -1,694 -1,580
Direct investments abroad
do- - -4, 968 -7, 753 -6,307 -2, 467
Foreign assets in the U.S., net
Foreignofficial.net
... .
Other foreign net
Direct investments in the U.S
10, 537
9,990
547
371
do
.. _ _ d o
do
do
18, 519
6,299
12, 220
2,656
32, 433
10, 981
21, 452
2,745
do
..do
-2, 107
4,557
4,602 -2, 769
911
3,905
1,960
22
-5,369
3,586
1,877
-3,598
-943
8,983
-447
16, 269
-845
14, 542
11,650 -1,206
1974
1975
Allocation of special drawing rights
Statistical discrepancy
.
14, 879
6,336
8,544
2,437
2,863
-344
3,207
583
2,700
5,906
2,420
-692 -2,655 -1,072
3,392
6,977
5, 075
990
711
1,309
11, 049
4, 648
6,401
1,712
7,612
3,149
4,462
31
7,867
4,256
3.611
-307
2,837
3,402
-565
476
3,907
2,400
2,331 -1,985
1,576
4,384
780
-48
5,736
2,587
3,148
1,229
5, 018
3,325
1,693
-689
-925
131 -1,417
2,143
4,574
503 -1,707
1,868
2,167
2,554
3,748
721
1,485
1,070
576
1,381
2,771
2,047
1,584
-145 -1,488 -2, 338 -1,398
54
2,819
-215
929
2,448
-397
-665
491
-158 -1,796 -1,476
-169
1,435
2,595
2,164
1,416
761
Memoranda:
Balance
Balance
Balance
Balance
on merchandise trade
on goods and services
on goods, services and remittances
on current account
do
do. _ .
do
do
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown in
the 1973 edition of BUSINESS STATISTICS
3,250
5,051
4,617
3,905
1975
Apr.
Annual
-248
96
-312
-933
May
June
July
Aug.
2,099
4,285
3,856
3,241
2,199 -1,508
4,336
1,058
3,903
578
3,085
-80
1976
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May P
GENERAL BUSINESS INDICATORS—Monthly Series
PERSONAL INCOME, BY SOURCEf
Seasonally adjusted, at annual ratesif
Total personal income
bil. $
1,154.7 1,245.9
1,209.0
1,217.2
1,245.2
1,244.0
1,262.4
1,278.7
1,287.4
1,295.9
1,300.2
1,313.6
1,325. 9
824.1
281.7
218.7
200.2
831.2
283.2
219.7
202.4
836.8
286.9
223.3
202.9
846.0
291.2
226.9
205.8
851.6
293.0
228.4
207.2
856.8
295.4
230.3
208.0
170.0 r 171.7
183.3 ' 184. 2
67.0
67.8
Wage and salary disbursements, total
-do
Commodity-producing industries, total-do
Manufacturing
do
Distributive industries
do
763.6
273.7
211.2
184.3
801.6
273.6
211.2
195.1
782.7
265.8
204.9
190.9
787.4
267.0
205.6
191.7
792.7
268.8
207.2
192.9
797.4
270.9
208.8
193.9
808.8
275.6
213.2
197.7
815.6
279.5
216.6
198.2
Service industries. .
.
Govt. and govt. enterprises
Other labor income
.
.
Proprietors' income:A
Farm
...
...
Nonfarm
145.0
160.6
54.5
158.6
174.3
61.3
154.5
171.5
59.8
156.1
172.6
60.3
157.4
173.6
60.8
158.2
174.4
61.4
160.3
175.2
62.0
161.5
176.4
62.6
163.1
179.0
63.2
165.3
180.3
63.8
165.7
181.2
64.4
167.1
181.9
65.2
168.8
182.6
66.1
25.6
59.5
24.6
58.7
18.5
58.5
20.1
58 6
21.7
58.6
25.8
58.7
29.3
58.7
32.7
58.8
30.5
58.9
28.3
58.8
25.8
58.9
25.6
59.1
25.3
59.7
Rental Income of persons, with capital con21.1
21.0
22.0
20.5
21.8
21.3
20.5
20.2
sumption adjustment
bil. $
21.0
20.7
33.5
33.8
33.2
33.9
33.8
32.8
31.1
32.9
Dividends
do
32 4
32 6
125.1
121.2
122.9
127.9
106.5
120.5
119.7
118.6
Personal interest income
_
do
116.6
117.5
181.4
180.6
175.0
178.1
181.3
140.4
176.8
189.0
Transfer payments
do
168.6
169.3
50.0
50.7
51.2
50.4
49.5
47.4
49.8
Less personal contributions for social insurance bil. $.
48.9
49.1
49.3
Total nonfarm income .
.
do... 1,119.1 1, 210. 2 1,179.7 1, 186. 2 1,212.5 1,207.2 1, 222. 1 1, 234. 8 1, 245. 6 1,256.3
22.2
31.7
129.0
182.9
51.6
1,262.9
22.5
33.4
130.4
184.7
53.3
1,276.3
22.7
33.3
131.8
188.9
53.4
1,288.9
do .
do
.do
do
do
1,336.0 '1,346.2
25.0
60.3
r 864. 1
' 298. 0
* 232. 7
r 210. 2
'26.9
'60.3
1,357.2
871.5
300.3
234.2
211.9
174.1
185.3
68.6
29.4
60.4
23.2
22.9
23.1
33.2
33.9
33.8
133.6 r 134. 8
135.8
190. 8 r 189. 2
188.6
53.6 r 54. 0
54.3
1,299.2 '1,307.4 1,315.8
FARM INCOME AND MARKETING*
Cash receipts from farming, including Government
payments totalt
mil $
Farm marketings and CCC loans, total
Crops
Livestock and products, total?
Dairy products
.
.
Meat anim als
Poultry and eggs
94, 051
91, 380
5,663
5 784
6,665
7,700
7,663
8,741
11,352
10,224
8,799
8,086
6,150
6,129
6,170
93, 521
do
52, 097
do
41, 424
do
do _ 9,399
25, 257
do
6,285
.do
90,572
47,327
43, 245
9,790
26, 110
6,871
5,606
2,291
3,315
807
2,002
463
5,752
2,202
3,550
844
2,151
511
6,651
3,101
3,550
808
2,174
527
7,674
4,070
3,604
793
2,155
615
7,619
4,052
3,567
792
2,108
628
8,695
4,606
4,087
798
2, £98
656
11,276
6,809
4,467
861
2,884
685
10,174
6,230
3,944
861
2,426
623
8,722
4,745
3,977
940
2,310
677
8,003
4,183
3, 820
964
2, 241
576
6,097
2,371
3,726
878
2,283
527
6,097
2 112
3,985
987
2,432
531
'6,118
' 2, 012
'4,106
' 965
' 2, 566
'528
212
257
157
149
171
154
Indexes of cash receipts from marketings and CCC
loans, unad justed :J
All commodities
1967 = 100..
Crops
.
do
Livestock and products .
do
218
283
170
177
Indexes of volume of farm marketings, unadjusted :t
All commodities
1967=100. .
Crops
.
do
Livestock and products
..do
111
122
115
129
161
143
186
202
215
265
214
264
244
300
316
443
285
406
224
272
171
137
175
175
177
176
201
220
194
244
309
163
196
188
183
196
171
'131
'202
89
69
90
70
99
99
112
129
111
126
128
151
169
234
159
225
134
170
120
143
93
80
93
66
90
60
105
102
99
104
103
' Revised.
p Preliminary.
^Annual data in the 1973 BUSINESS STATISTICS should
read as follows (mil. $): 1956 total imports of goods and services, -19,627; 1953-59 direct
defense expenditures, -2,615; -2,642; -2,901; -2,949; -3,216; -3,435; -3,107.
tSee corresponding note on p. S-l.
AIncludes inventory valuation and capital consumption adjust-
6,300
2,200
4,100
1,000
2,500
600
176
145
202
92
65
109
106
111
102
105
112
109
123
110
101
100
ments.
{Series revised beginning 1959; revisions for periods prior to May 1974 are available from the U.S. Dept. of Agr., Economic Research Service.
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
1974
1975
1976
1975
Apr.
Annual
June 1976
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr. v
May •
GENERAL BUSINESS INDICATORS—Continued
INDUSTRIAL PRODUCTION^
1
Federal Reserve Board Index of Quantity Output
Not seasonally adjusted:
Total index <?
By market groupings:
Products total
Final products
Consumer goods
Automotive products
Home goods and clothing
Equipment
Intermediate products
Materials
By industry groupings:
Manufacturing
Durable manufactures
Nondurable manufactures
124.8
113.8
110.4
110.6
114.5
109.4
115.5
120.3
119.6
117.5 ' 114. 7
116.6 ••121.4
do
do .
do
do
do
do
123.1
121.7
128.8
110.0
124.6
111.7
115.7
115.5
124.0
99.1
110.3
103.6
112.5
112.0
118.7
101.4
105.4
102.8
112.7
112.4
119.4
103.7
106.3
102.7
117.7
117.7
127.1
109.9
113.2
104.6
113.6
113.3
122.7
89.4
103.0
100.2
118.6
118.3
130.9
96.6
115.8
100.6
122.9
123.0
135.9
112.8
120.6
105.1
120.8
120.4
132.0
117.8
121.3
^ 104. 3
118.0
117.3
127.6
111.2
116.8
103.0
114.4
113.9
122.1
95.9
108.9
102.4
116.6 ' 120. 7 '121.3
116.7 r 120. 8 ' 120. 9
127.1 r 131. 7 ' 131.5
110.1
120.7 ' 124. 3
112.6 r 122. 0 ' 122. 3
102.2
105.7
106.0
do
do ..
128.3
127.4
116. 3
110.6
114.2
106.9
113.5
107.2
117.5
109.2
114.9
102.5
119.9
110.3
122.4
115.9
121.9
117.5
120.3
116.7
116.3
115.3
116.2
116.5
do
do. .do
124.4
120.7
129.7
112.2
105.8
121.4
109.0
105.0
114.7
109.1
104.1
116.5
113.0
106.7
122.2
1C6.7
99.0
117.9
113.4
103.8
127.0
118.7
109.2
132.2
119.0
109.6
132.4
117.2
108.3
129.9
112.9
105.3
123.9
114.1 ' 120. 7 121.5
106.4 r 113.1 '113.8
125.2 r 131. 7 ' 132. 6
do
127.3
127.5
124.2
122.7
127.1
130.0
134.4
133.3
125.7
124.2
126.2
132.1
do..
124.8
113.8
109.9 ••110.0
111.1
112.2
114.2
116.2
116.7
117.6
118.4
do
do
do
123.1
121.7
128.8
115.7
115.5
124.0
113.0
112.6
119.7
113.4
113.7
121.2
114.2
114.5
123.3
115.3
115.7
125.5
115.8
115.9
125.7
116.9
116.9
126.8
116.9
117.0
127.0
118.0
117.9
128.9
119.3
119.0
130.2
r 120. 7
r 132. 0
do
do
do do ._
127.9
110.0
94.9
139.0
112.5
99.1
86.9
122.3
107.8
93.6
82.4
115.2
110.5
97.6
86.3
119.3
113.2
103.4
93.2
122.8
115.9
106.9
97.7
124.8
116.1
105.9
96.8
123.2
118.3
106.7
97.9
123.5
108.9
101.2
123.9
118.8
109.3
100.0
127.2
119.5
111.3
100.1
132.7
120.9
111.6
99.2
135.2
138.0
132.0
153.5
120.1
101.8
133.8
115.9
96.7
127.8
117.8
102.3
128.6
118.8
103.5
131.1
121.0
104.8
135.5
121.9
106.5
136.0
125.0
108.4
137.6
123.6
105.4
137.9
124.2
104.6
139.3
124.1
106.0
138.7
126.2
129.2
109.0
134.5
125.4
144.0
128.4
99.0
136.2
125.3
147.7
124.0
89.2
133.3
122.7
144.3
125.3
94.4
133.4
122.4
145.3
127.2
97.7
134.9
124.2
146.4
129.0
101.6
136.3
125.5
147.7
129.4
130.1
102.0
101.5
136.6 - 137. 9
125.8
126.4
148.0
149.9 ••
130.5
104.5
137.3
127.2
148. 0
132.7
106.2
139.7
130.0
150.0
134.4
108.2
141.4
130.6
152.7
134.6 r 135. 4 ' 134. 4
109.5 ' 110. 1 109.0
141.3 r 142. 0
141.1
130.4 ' 130. 4 128.6
152.7 r 154. 1
154.2
111.7
129.4
128.7
136.0
121.7
103.6
116.7
116.8
133.7
106.0
103.0
115.4
116.4
132.3
105.6
102.9
115.0
115. 3
131.7
105.0
102.2
113.9
114.0
127.7
104.3
102.2
113.9
113.3
126.9
105.5
102.3
114.9
113.4
128.3
105.2
102.8
115.6
114.5
129.7
104.5
102.6
115.7
115.4
133.1
104.0
102.5
116.5
116.3
136.5
103.6
103.5
118.2
118.4
138.0
105.9
103.8 r 104. 8
118.4 r 120. 4 '
118.7 '119.5 '
138.8 ' 138. 0 '
106.1
108.1 '
do
do
.do
130.3
141.1
109.6
116.6
125. 1
98.1
114.2
123.2
92.2
114.7
121.5
98.6
113.9
120. 7
98.0
114.6
123.0
98.0
116.4
123.4
101.5
116.9
122.6
105.0
116.2
123.3
100.4
118.0
125.3
102.9
118.2 '121.4 '121.5
125.7 ' 127. 4 ' 129. 2
102.5 ' 108. 6 ' 107. 4
do
82.3
81.8
82.4
82.7
82.9
82.6
81.4
81.6
81.1
79.4
79.0
115.4
109.3
120.3
116.6
112.0
120.3
117.0
112.5
120.7
118.5
112.5
123.3
120.3
114.2
125.3
122.4 ' 123. 5 ' 124. 0
116.9
117.6 '118.4
127.1 ' 128. 2 ' 128. 7
118.3
113.0
104.8
108.7
126.4
138.8
118.6
1967=100..
-
Mining and utilities
Seasonally adjusted:
Total index.
By market groupings:
Products, total
Final products
Consumer goods
Durable consumer goods
Automotive products
Autos
Auto parts and allied goods
Home goods 9
do
Appliances, TV, home audio. _ _ d o
Carpeting and furniture.
.do
Nondurable consumer goods.
do ..
Clothing
do
Consumer staples .
do Consumer foods and tobacco. ..do
Nonfood staples
do
Equipment
do
Business equipment .
do
Industr ial equipment 9
do
Building and mining equipment_do
Manufacturing equipment
do
Commercial transit, farm eq9
Commercial equipment
Transit equipment
Defense and space equipment
r 118.
2
r 116.
6
123.3
101.7
129. 1 ' 129. 3
126.7
127.7
119.5
120.8
121.7
122.3
123.2
120.2
119.6
130.9
'121.4
'121.4
' 120. 7
'131.8
122.0
121.4
132.8
122.8
122.6
133.9
' 123. 1 ' 124. 9
'114.8 '116.2
105.2
108.5
' 133. 3 '131.0
126.5
117.2
113.4
124.5
127.7
116.9
113.8
122.9
' 127. 7 ' 129. 9
'113.2 ' 118. 3
' 138. 0 ' 140. 7
131.7
123.2
143.5
133.6
126.4
111.4
139.1
79.3
r
135.1
136.3
141.6
129.3
154.4
142.9
131.0
155.1
105.4
105.0
120. 9 121.8
120. 3 121.5
136. 5 137.9
109. 8 111.2
106.9
123.8
123.7
140.2
113.0
122.0
129.4
107.2
124.0
129.6
112.6
118.1 '119.9 ' 120. 3 121.1
117.0
109.0 '111.3 '111.4
112.9
108.1
r
108.
6
113. 5
' 112.0 '111.0
105.6
95.1 r 100. 0
104.7 ' 102. 8 106.3
96.2
102.5
101.4 '98.4
92.2
108.9
115.8
110.9 '110.6
99.8
117.8
121.5
' 120. 0 ' 120. 0
117.3
122.0
114.3
115.7
110.8
106.5
105.8
112.9
117.7
107.6
106.2
114.2
119.2
108.6
106.8
115.1
119.9
109.6
106.7 ' 108. 4
109.1
115.3 ' 117.3 '118.3
119.9 '121.4 ' 122. 1
110.4
112.6 ' 114. 1
110.3
119.7
123.4
115.7
111.4
120.8
124.3
117.0
94.3
110.1
79.2
134.5
94.7
111.0
79.0
134.5
94.1
109.4
79.4
137.0
95.5
110.4
81.1
138.7
94.4
110.0
79.4
140.9
96.3 '97.4
118.1
114.3
78.9
77.3
' 142. 9 ' 141. 2
98.8
122.2
76.3
142.2
101.1
123.5
79.5
141.3
114.4
116.8
113.0
118.0
'117.5 '118.5
'121.5 '119.2
118.2
115.3
119.4
120.8
118.6
120.0
129.5 ' 129. 2
116.2 '115.6
141.8 '141.6
128.6
116.3
139.9
131.1
132.9
111.1
125.2
133.2
112.4
106.0
99.8
90.8
97.3
112.3
117.0
119.5
106.8
100.3
92.8
96.8
114.0
118.9
121.1
111.5
106.1
101.7
100.7
118.3
126.0
118.4
115.1
108.7
103.0
102.4
123.4
133. 9
121.3
116.5
110.2
102.4
105.2
125.0
136.1
120.6
116.8
110.9
102.8
107.9
124.9
136.3
120.7
116.8
110.8
103.1
107.9
125.7
137.7
117.2
do
do
do
do
do
do
do
124.4
120.7
127.5
124.1
119.9
131.2
131.4
112.2
105.8
105. 6
97.2
96. 1
99.3
114.8
107.9
103.3
103.2
95.0
99.4
89.6
112.4
108.2
102.5
99.8
89.9
90.1
91.9
110.9
109.5
103.2
100.8
91.8
88.7
97.0
110.9
110.6
103.4
100.7
92.8
87.0
103.8
109.7
112.8
105.4
104.1
96.5
90.4
108.1
112.7
114.7
107.0
106.1
97.2
91.3
107.3
116.1
115.8
107.6
105.9
97.0
93.2
106.0
115.9
do
do
do
do
116.3
128.1
133.8
125.2
104.0
112.8
118.7
106.2
101.9
110.8
116.8
104.0
101.7
109.0
113.7
103.8
102.3
108.2
112.3
103.8
102.4
108.4
112.9
103.4
103.7
110.0
115.1
104.4
105.0
111.7
116.7
106.1
Transportation equipment.
.do
Motor vehicles and parts
do
Aerospace and misc. trans, eq . do
Instruments
do
96.9
113.2
81.1
143.9
88.4
98.1
79.0
133.7
84.7
93.1
76.6
131.1
87.6
95.0
80.4
129.7
90.5
100.0
81.3
131.0
91.0
103.2
79.3
132.4
92.9
107.2
79.1
132.1
Lumber , clay , and glass
Lumber and products
Clay, glass, and stone products.,
do
do
do
123.6
120.1
125.7
109.1
109.6
108.8
104.8
104.1
105.4
105.9
108.0
104.7
107.0
110.3
105.1
108.2
112.0
106.2
110.6
114.5
108.3
113.1
115.5
111.7
112.6
115.0
111.2
113.9
116.1
112.6
Furniture and miscellaneous.
Furniture and
fixtures
Miscellaneous manufactures.
do
do
do
136.1
126.9
144.4
121.5
109.6
132.3
117.6
105.6
128.5
119.7
109.6
129.0
120.1
107.9
131.1
121.1
109.4
131.8
123.1
109.6
135.3
124.3 ' 124. 5 122.9
110.6
111.0
110.8
136.7
133.7
137.2
124.1
112.2
135.1
do
.do
do
do
do
129.7
108.9
122.7
105.4
77.3
121.4
98.0
109.9
94.7
73.8
114.8
90.4
100.4
88.2
68.0
116.2
93.2
103.8
90.9
70.0
118.6
94.9
106.9
91.5
71.2
120.8
97.4
110.7
92.9
73.5
123.4
100.2
115.0
95.8
71.7
125.7
104.0
121.2
96.1
81.2
130.0
109.7
126.8
103.2
81.5
122.9
116.0
132.9
116.3
107.8
107.1
98.1
96.0
104.2
117.3
104.9
100.2
87.7
102. 1
109.5
113.2
118.0
Paper and printing
do
107.3
103.9
121.0
109.6
102.4
Paper and products
...do ..
109.5
105.8
134.0
115.7
105.8
Printing and publishing
do
105.9
102.6
105.5
100.2
112.3
r
1
Revised.
^Preliminary.
'Estimated.
rf Monthly revisions or 1972 jire avail able
Up
A I k request - 9 Includes data for items not shown separatel 7AData for the automotive industry reflect updatlr g of seas, factors bjick to Ja n. 1972; t lose
for blast furnaces, steel mills reflect (back to 1958) a djustment of sales t o annual totals in the
121.8
114.6
132.2
123. 8
119.2
109.2
112.2
130.4
143.5
125.3
105.2
101.6
86.0
104.6
107.9
110.4
117.5
Nondurable manufactures
Textiles, apparel, and leather
Textile mill products
Apparel products.
Leather products
124.9
126.4
122.7
' 120. 0 r 122 2
117.9
' 115.2 r 116! 9
' 106. 9 ' 108. 6 108.2
r 109. 2
' 110. 2 111.2
' 127. 3 ' 128. 7 129.6
142.4
' 139. 8 '141.0
' 120. 3 ' 127. 4 123.7
110.6
106.5
94.0
106.4
115.0
121.2
118.7
Machinery and allied goods 9
Machinery
Nonelectrical machinery
Electrical machinery
120. 1 ' 122. 8 123.6
' 124. 2 124.6
' 122. 5
78.9
127.4
127.3
112.1
123.8
128.5
139.8
122.6
By industry groupings:
Manufacturing, total...
Durable manufactures
Primary and fabricated metals
Primary metals
Iron and steel
Nonferrous metals
Fabricated metal products
122.2
121.5
132.0
124.4
122.6
106.7
123.5
118.2
112.8
113.4
112.4
110.1 ' 108. 6 106.8
117.4
116.1
116.2
Materials.. _
do
Durable goods materials 9
. d o ..
Consumer durable parts
_ . do -.
Equipment parts. . _
do
Nondurable goods materials 9
do
Textile, paper and chem. materials . do
Fuel and power, industrial
do
123.8
120.9
120.2
130.9
123.4
122.1
105.1
78.2
116.3
112.4
119. ?
do
do do
122.3
124.1
118.7
128.4
128.3
129.6
127.3
114.3
108.0
119.3
Intermediate products
Construction products
Misc. intermediate products
r
r
122.4
127.2
106.0
123.2
98.0
83.8
128.7
108.4
125.2
101.3
83.5
r 121.
8
115. 7
124.0
r 115. 2
132.1
79.1
'78.8
132.3 ' 133. 2
131.4
110.0
111.3 '109.4
126.7 ' 122. 2 ' 125. 6
106.1 ' 105. 6 104.3
83.2
83.4 '84.2
121.1
92.4
121.4
107.4
113.9
114.7
110.8
121.0
114.8
116.8
119.6 ' 120. 0 '121.2
116.4
136. 4
111.7
124.0
127.3
129.2
127.0
132.6 ' 135. 0 '137.0
110.6
"1I2.T
107.1
104.4
107.1
106.2
106.5
108.5
110.8 '110.0 ' 110. 5
1973 -1Annual Survey of Manufac tures, a i"estatem< nt of the level of new anc1 unfillecI orders,
and a recompiitation o I seas, fa ctors. Rtwised m anthly d ata are a vailable from the Bureau
of the Census Wash., 13. C. 2023 3.
SURVEY OF CURRENT BUSINESS
June 1976
1974
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown in
the 1973 edition of BUSINESS STATISTICS
1975
1975
Apr.
Annual
S-5
May
June
July
Aug.
1976
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
GENERAL BUSINESS INDICATORS—Continued
INDUSTRIAL PROD OCTIONt— Continued
Federal Reserve Index of Quantity Output— Con.
Seasonally ad justed— 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. _.
151.7
154.3
124.0
164.4
140.3
143.2
124.5
142.7
131.0
132.8
120.2
133.5
132.4
135.7
118.5
132.7
136.2
138.2
122.4
140.1
140.1
143.4
124.6
141.6
143.6
146.3
126.7
147.8
146.2
148.8
127.1
152.0
148.5
152. 5
126.5
153.1
150.2
155.2
126.8
151.5
151.1
156.3
128.7
151.2
151.6
156.8
123.6
156.0
124.8
126.2
106.4
124.5
125.9
107.3
122.5
122.9
115.9
122.4
123.7
103.8
123.5
125.1
102.2
124.8
126.3
104.8
125.2
126.7
105.7
126.0
127.4
109.3
126.3
127.3
111.9
128.0
129.1
113.7
129.4
130.7
109.9
' 130. 4
131.5
114.1
- - ..do. _.
do
do
do
_ _ do. _
do
do
do
127.3
1C9.3
129.2
109.1
107.3
105.1
107.7
99.8
127.5
106.6
121.7
101.7
105.8
113.8
104.6
95.0
128.0
108.5
125.8
104.7
107.4
112.2
106.6
95.0
126.5
105.9
114.8
100.4
105.8
113.6
104.5
94.3
126.8
106.3
110.6
95.3
1C7.6
120.4
105.5
95.7
127.5
106.4
110.3
101.4
106.7
120. 6
104.5
95.5
127.0
105.0
119.2
98.9
104.4
105.7
104.2
94.7
127.8
105.3
118.5
99.5
104.8
113.6
103.4
93.6
127.0
106.4
119.8
100.0
106.1
114.6
104.8
94.6
127.6
106.9
122.1
101.7
105.9
119.9
103.8
93.9
127.7
105.4
120.9
99.6
104.7
107.8
104.3
93.9
129.3
105.5
124.8
103.6
103.8
109.4
102. 9
93.4
-do. .
do
do
149.9
159.5
117.9
153.7
164.7
117.1
153.1
164.2
152.3
163.0
152.6
163.3
153.9
164.9
154.6
165.9
156.1
167.8
152.9
163.4
153.9
165.0
155.7
167.6
159.2
172.0
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
do
-do
do
Utilities
Electric
Gas
' 155. 6 ' 158. 3
' 158. 6 '161.4
' 127. 7 ' 129. 5
"155. 6
"159. 7
"131.6
"160. 9
154.5
160.4
129.7
r 128. 6
"130. 0
' 129. 5 "131. 1
117.4
131.5
132.8
' 129. 2 ••131. 8 "131.3
' 104. 8 r 108. 7 "106.8
' 128. 7 ' 130. 2 "128. 7
' 107. 9 r 107. 3 "107. 1
r
102. 0 r 106. 8 "104.5
115.0 r 139. 8 "119.4
101.7 "102. 2
' r100. 0
92.5
'92.2
"92.3
132.2
107.9
' 167. 5
r
129. 6
130.7
115.8
159.9
172.0
r 170. 8
160.9
"162. 1
105.9
122.0
103.3
162.7
BUSINESS SALES §
mil. $_. 1,967,894 2,016,110 163,855 167,972 171,020 163,933 171,052 176,198 182,167 172,665 181,205 166,119
Mfg. and trade sales (unadj.), total c? A
172,930 r 189,444 189, 813
1,967,894 2,016,110 162,744 163,349 165,803 169,251 172,301 173,353 175,017 173,826 176,966 179,027
182,329 r 185,488 186, 844
1
981, 985 i 992,687
512,922 498, 325
469, 063 494, 362
80, 703
41, 221
39, 482
79, 734
40, 494
39,240
81, 039
40, 757
40,282
83, 029
41, 354
41,675
85, 210
42, 444
42,766
86,200
43, 192
43,008
87, 403
43, 607
43,796
86, 515
42, 352
44, 163
87, 616
43, 681
43, 935
89, 276
44, 570
44, 706
90,912 ' 93,050
45,700 ' 47,546
45,212 r 45,504
94, 116
48, 023
46,093
1
537, 782 i 584,423
167,313 180, 725
370, 469 403, 698
46,813
14,165
32,648
48,173
14,703
33,470
48,578
14,965
33,613
49,655
15,432
34,223
49,925
15,506
34,419
49,549
15,440
34,109
50,165
15,775
34,390
50,293
15,763
34,530
51, 990
16, 877
35, 113
51, 592
16, 730
34, 862
52,601 r 53,344
17,397 r 17,403
35,204 r 35,941
53, 300
17, 874
35, 426
i 448,127 i 439,000
Merchant wholesalers, total O
do
202,341 185, 922
Durable goods establishments...
do
Nondurable goods establishments. .. .do ... 245, 786 253, 078
35, 228
15, 007
20, 221
35,442
15,024
20,418
36, 186
14,995
21,191
36,567
15,329
21,238
37,166
15,187
21,979
37,604
15,919
21,685
37,449
15,717
21,732
37,018
15,779
21,239
37, 360
16, 128
21, 232
38, 159
16, 754
21, 405
38,816 r 39,094
17,052 r 17,006
21,764 ' 22,088
39, 428
16, 932
22, 496
Mfg and trade sales (seas adj.), totalcf A
do
Manufacturing, totaled A
Durable goods industriescf A
Nondurable goods industries.-
do
do
do
Retail trade, total _
Durable goods stores
Nondurable goods stores
do
do
do .
BUSINESS INVENTORIES §
Mfg. and trade inventories, book value, end of year
or month (unadj.), total f®
mil. $
Mfg. and trade inventories, book value, end of year
or month (seas, adj ) .total t©
mil $
268,513
262, 801
269,779 266,735 264,342 262,275 260,949 262,128 267, 112 268,586 262,801 264,659
268,047 ' 271,699 273, 144
271,050
264, 770
266,970 264,335 263,749 263,345 264,662 265,087 266,867 266,064 264,770 266,285
267,979 r 269,637 270, 531
146, 574
95, 754
50, 820
150,184 148,951 148,059 147,189 146,583 146,413 146,510
99, 803 99,378 98,796 98,189 97,199 96,640 96,215
50, 381 49,573 49,263 49,000 49,384 49,773 50,295
146,671 146,574 147,030
95, 953 95, 754 95, 664
50, 718 50, 820 51, 366
147,328 ' 148,150 148, 219
95,696 rr 96,193 96, 126
51,632 51,957 52,093
Manufacturing, total
Durable goods industries
Nondurable goods industries
do
do
do
150,404
97, 967
52, 437
Retail trade, totalf.Durable goods stores
Nondurable goods stores
do
do
do
74, 082
34, 649
39,433
73, 081
33, 592
39, 489
71,483
32, 375
39, 108
70,826
32, 086
38, 740
70,840
31, 909
38, 931
71,503
32,270
39,233
72, 578
33, 324
39, 254
73,049
33, 471
39,578
74, 642
33,813
40,829
73, 839
33, 712
40, 127
73, 081
33, 592
39, 489
73, 610
33, 510
40,100
74, 344
33, 490
40, 854
75,089
33,920
41, 169
75, 652
33, 994
41, 658
Merchant wholesalers, total O
DuraMe goods establishments
Nondurable goods establishments
do
do
do
46,564
27, 779
18, 785
45, 115
27, 476
17, 639
45, 303
28, 019
17, 284
44,558
27,652
16,906
44,850
27,605
17,245
44,653
27,244
17,409
45,501
27,266
18,235
45,625
27,369
18,256
45,715
27,566
18,149
45, 554
27, 532
18, 022
45, 115
27, 476
17, 639
45, 645
27, 998
17, 647
46,307 ' 46,398
28,308 r 28,336
17,999 «• 18,062
46, 660
28, 441
18, 219
1.50
1.59
1.64
1.62
1.59
1.56
1.54
1.53
1.52
1.53
l.£0
1.49
1.47
1.45
1.45
1.86
2.42
.82
1.02
.59
1.87
2.45
.82
1.04
.60
1.83
2.42
.80
1.03
.59
1.77
2.37
.78
1.02
.58
1.72
2.29
.75
.98
.56
1.70
2.24
.73
.95
.56
1.68
2.21
.71
.94
.55
1.70
2.27
.73
.97
.56
1.67
2.19
.71
.94
.55
1.65
2.15
.70
.91
.53
1.62
2.09
.68
.89
.52
"1.59
2.02
.66
.86
.50
1.57
2.00
.65
.86
.50
BUSINESS INVENTORY-SALES RATIOS
Manufacturing and trade, total d"©.-_ .
ratio
Manufacturing, total cf A ..
Durable goods industriescf A
Materials and supplies ..
Work in process
Finished poods.. _
do
do
do
do
do
1.65
2.06
.67
.91
.48
1.80
2.36
.79
1.00
.58
Nondurable goods industries
Materials and supplies
Work in process.
_
Finished goods.-.
.
do
do
do
do
1.19
.47
.19
.53
1.23
.48
.18
.56
1.28
.50
.19
.59
1.26
.50
.19
.58
1.22
.48
.18
.56
1.18
.46
.18
.54
1.15
.45
.18
.53
1.16
.45
.18
.53
1.15
.45
.17
.53
1.15
.44
.17
.53
1.16
.45
.18
.53
1.15
.44
.18
.53
1.14
.44
.17
.52
' 1.14
.45
.17
'.52
1.13
.44
.18
.51
do
do
do
1.54
2.22
1.23
1.49
2.20
1.17
1.53
2.29
1.20
1.47
2.18
1.16
1.46
2.13
1.16
1.44
2.09
1.15
1.45
2.15
1.14
1.47
2.17
1.16
1.49
2.14
1.19
1.47
2.14
1.16
1.41
1.99
1.12
1.43
2.00
1.15
1.41
1.93
1.16
1.41
'1.95
'1.15
1.42
1.90
1.18
1.13
1.45
.87
1.24
1.79
.84
1.29
1.87
.85
1.26
1.84
.83
1.24
1.84
.81
1.22
1.78
.82
1.22
1.80
.83
1.21
1.72
.84
1.22
1.75
.84
1.23
1.74
.85
1.21
1.70
.83
1.20
1.67
.82
1.19
1.66
.83
'1.19
'1.67
'.82
1.18
1.68
.81
43, 123
50, 679
4,277
4,203
4,385
4,224
4,584
4,468
4,001
4,475
3,788
4,184
4,346
4,390
4,711
4,673
4,211
4,152
4,797
4,355
4,156
4,424
4,431
4,592
' 5, 161
' 4, 838
5,108
5,008
981, 985
992, 687
81, 827
80, 361
85, 580
76, 991
83, 775
90, 068
90, 552
86, 312
82, 693
83,362
91,827 ' 96,180
95,505
512, 922
26, 690
93, 673
47, 424
33, 248
498, 325
26, 269
77, 651
40, 353
24, 156
42, 112
2.217
c
6, 689
3,545
1.964
41, 349 43, 785
2,321
2,229
6,350
6,279
3,195
3,205
2.014
1,972
1
'
Revised.
j>
Preliminary.
«
Estimated.
Based
on
data
not
seasonally
adjusted.
2
Advance estimate; total mfrs. shipments for Apr. 1976 do not reflect revisions for selected
components.
cf 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.
tSee note marked "t" on p. S-12; revisions for inventory-sales ratios for retail trade, total,
37, 487
2,216
5,520
2,780
1,824
40, 881
2,355
6,222
3,094
2,089
45, 285
2,424
7,025
3,707
2,173
45, 491
2,541
6,553
3,166
2.170
42, 329
2,233
6,251
3,065
2.103
40, 760
1,966
5,876
3,050
1.907
41, 265
2,016
6,554
3,529
1,957
46, 129
2,209
6,910
3,587
2.141
Retail trade, total t
Durable goods stores
Nondurable goods stores
Merchant wholesalers, total O.
do
Durable goods establishments
do
Nondurable goods establishmentsdo
MANUFACTURERS' SALES, INVENTORIES,
AND ORDERS
Manufacturers' export sales.
Durable goods industries:
Unadjusted, total..
mil $
Seasonally adj., total..
.
do
Shipments (not seas, adj.), totalcfA
..._do
Durable goods industries, total 9 d"A —
Stone, clay, and glass products
Primary metals A
Blast furnaces, steel mills A
Nonferrous metals
do
do
do
do
do
48, 766 '49,048 249,467
' 2, 467
2,434
7,602 ' 7, 467 2 7,923
' 3, 999
3,805
2,475
' 2, 370
durable, and nondurable for Jan. 1971-July 1974 appear on pp. 26 ff. of the Nov. 1975 SURVEY.
9 Includes data for items not shown separately.
{ See note marked "cf" on p. S-4.
ASee corresponding note on p. S-4.
©Revisions for this item for Jan. 1964-Dec. 1970 (inventories) appear on pp. 44 ff. of the
Dec. 1974 SURVEY; those for Jan. 1971-July
1974 appear on pp. 28 ff. of the Nov. 1975 SURVEY.
c
OSee note marked "f" on p. S-ll.
Corrected.
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
1974
| 1975
Annual
June 1976
1975
Apr.
May
June
July
Aug.
1976
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
May
Apr.
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 equipmentd 71 -.Motor vehicles and parts
Instruments and related products
mil $
do
do
_do
do
do
61, 271
86, 572
66, 741
109, 521
72, 120
16, 053
Nondurable goods industries, total 9
Food and kindred products
Tobacco products
Textile mill products
do
do
do
do
do
do
do
do
61,550
89, 485
64, 388
110,991
73, 220
17, 176
5,183
7,789
5,299
9,381
6,166
1,373
5,053
7,507
5,240
9,492
6,234
1,362
5,248
8,122
5,630
10,131
6,659
1,493
4,844
6,650
4,902
7,927
5,012
1,319
5,307
6,848
5,339
8,748
5,613
1,443
5,677
7,660
5,807
10, 251
7,181
1 611
5,703
7,656
5,890
10,808
7,530
1,598
5,191
7,255
5,684
9,852
6,742
1,549
5 152
7,413
5 471
9,229
6 106
1 565
5 106
7 162
5 298
9,695
6 957
1 495
469, 063
156, 744
6,926
33, 097
494, 362
166, 080
7,423
32, 941
39,715
13.535
585
2,446
39,012
13, 256
605
2,528
41,795
14,059
627
2,924
39,504
13,346
621
2,482
42,894
14,059
647
2,986
44, 783
14, 872
43,983
14,258
723
3,177
41,933
13,867
651
3,026
42 097
13 726
3 209
45,061
14,805
637
3,273
39, 812
81, 377
56, 852
23, 416
40, 376
85, 967
64, 649
23, 884
3,185
7,183
4,982
1,998
3,171
7,007
4,988
1,957
3,419
7,374
5,376
2,116
3,185
6,630
5,427
1,910
3,471
7,296
5,865
2,065
3,609
7,878
5,742
2,153
3,650
7,699
5,788
2,170
3,650
7,427
5,916
2,037
3,475
7,151
5,858
1,825
3 602
7 385
5 839
1 932
3,992
8,239
6,132
2,199
80,703
79,734
81,039
83,029
85,210
86200
87,403
86,515
87,616
89 976
90, 912
do
do
do
do
do
41,221
2,181
6,338
3,408
1,822
40,494
2,140
6,022
3,089
1,852
40,757
2,119
5,961
3,043
1,861
41,354
2,249
6,048
2,992
2,057
42,444
2,203
6,424
3,118
2,208
43,192
2 265
6 977
3 717
2 138
43,607
2,391
6,543
3,187
2 183
42,352
2, 263
6,415
3,132
2 161
43,681
2,223
6,409
3,343
2,068
44 570
9 329
6*775
3 590
2 058
45, 700
2,392
6,780
3,534
2,086
Fabricated metal products
Machinery except electrical
Electrical machinery
Transportation equipmentd* A
M.otor vehicles and parts A
Instruments and related products
do
do
do
do
do
do
5,113
7,471
5,448
9,132
5 952
1,402
5,033
7,326
5,414
9,033
5,936
1,365
4,898
7,380
5,306
9,456
6,193
1,402
5,184
7,285
5,368
9,513
6,422
1,412
5,226
7,300
5,472
10, 037
6,765
1,438
5,304
7,398
5,453
9,823
6,785
1,481
5,511
7 776
5,634
9,736
6,429
1,530
5,250
7 832
5,526
9,103
6 006
1,520
5,396
7,730
5,434
10,296
7,262
1,580
5 621
7 654
5 813
10 268
7 071
1*585
5,735 'r 5, 901
7,723
8, 036
5,878 ' 6, 002
10, 946 r11,658
7,597
8, 353
1,531 '1,570
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
do
do
do
do
do
do
do
do
39482
13844
605
2 484
3 165
6,637
5 014
1 889
39, 240
13,435
598
2,589
3,193
6,611
5,064
1,897
40,282
13,675
582
2,751
3,270
6,944
5,272
1,976
41,675
13,893
607
2,884
3,382
7,232
5,477
2,070
42,766
14,165
625
2,933
3,432
7,496
5,890
2,063
43 008
14 073
44,163
14,064
718
3 138
3,712
7,814
5,967
2,113
43,935
14,007
667
3,122
3,686
8,016
5,784
2,021
44 706
14 597
45, 212
14, 362
46, 093
14, 640
3 053
3 516
7 618
5 731
2 106
43,796
14,275
639
3,008
3,580
7,762
5,871
2,098
i 88, 368
i 201,977
i 135,032
i 86, 573
i 74, 522
i 406,215
7,075
16,717
11,349
7,045
5,972
32,545
7,128
16,300
11, 145
7,029
6,104
32,028
7,152
16,790
11,275
7,309
5,957
32,556
7,494
17,171
11,064
7,586
6,378
33,336
7,623
17, 193
11, 175
7,974
6,311
34,934
7,883
17, 067
11 109
7,933
6 492
35 716
8,138
17,390
11,712
7,626
6,708
35,829
8,127
17,296
11,401
7,173
6,581
35,937
8,135
17,177
11,392
8,406
6,777
35,729
8,251
17,831
11,513
8,262
6,849
36,570
8,345 ' 8, 372
17, 717 'r 17,854
11,716
11,943
8,849 ' 9, 673
7,052 ' 7, 298
37, 233 '37,910
8,710
18, 227
12, 199
9,525
7,342
38, 113
i 39, 368
i 150,739
i 130,347
i 20, 392
3,169
12,698
10,956
1,742
3,228
12, 372
10,704
1,668
3,202
12, 567
10, 901
1,666
3,366
12,315
10, 748
1,567
3,431
12, 544
10, 812
1,732
3,526
12, 409
10 744
1 665
3,618
13,044
11, 178
1,866
3,564
12, 713
10, 977
1,736
3,526
12,594
10,933
1,661
3,602
12,811
10, 959
1,852
3,652
13, 124
11, 225
1,899
Paper and allied products
Chemicals and allied products
Petroleum and coal products
Rubber and plastics products
Shipments (seas, adj.) totalrfA
By industry group:
Durable goods industries, total 9 d^A
Stone, clay, and glass products
Primary metalsA
Blast furnaces, steel mills A
Nonferrous metals
do
By market category:
1
87, 844
Home goods and apparel
do
1188,087
Consumer staples .
do
1 128, 361
Equipment and defense prod excl auto cf do
1
87, 053
Automotive equipmentA
do
1
77, 174
Construction materials and supplies
do
1 413,466
Other materials and suppllesA
do
Supplementary series:
i 38, 873
Household durables ...
do
Capital goods Industriasd*
do .. 1 147, 601
i 1128, 725
Nondefense cf
do
18, 876
Defensecf
do Inventories, end of year or month:
Book value (unadjusted) total
Durable goods industries total
Nondurable goods industries total
c
582
562
615
2 971
652
3 228
3 729
7 931
5 818
2 084
5, 663
8,063
5,927
11, 236
7,876
1,484
' 6, 020
' 8, 725
' 6, 175
11,973 '
'8,511
' 1, 572
45, 698 ' 46,741
14,302 ' 14,596
604
'659
3,266 ' 3, 521
46, 457
14, 301
624
3,206
3,903
8,829
6,006
2,335
' 3, 933
'T 8, 740
5, 833
' 2, 382
r
6,102
8,442
6,105
11, 942 2 il, 926
8,467
1,536
94, 116
93,050
47, 546 ' 47, 741 2 48, 412
r 2, 469
2,393
7,140 '7,096 2 7, 608
' 3, 737 3,677
' 2, 236
2,296
'45,504
'14,345
' 676
'3, 308
3,911 '3, 774
8,057 '8, 373
5,972 '5, 865
2,173 '2, 266
635
3,295
r
6,020
8,101
6,304
11,614
8,190
1,567
3,708 ' 3, 776 2 3,918
13, 380 ' 13, 563 22 13, 594
11,495 '11,701 11,757
1,885
' 1, 862 2 1, 837
146,177 147,458 148,093 '148,928 149, 360
95,167 95,625 96, 039 '96,785 96, 984
51,010 51,833 52, 054 '52,143 52, 376
149,762
97, 198
52, 564
146, 177
95, 167
51, 010
151,351 150,109 148,160 146,494 145,976 145,037 145,646 146,101
100,729 100,276 98,910 97,869 97,017 95 927 95,542 95,429
50,622 49,833 49,250 48,625 48,959 49 110 50,104 50,672
do
150, 404
146, 574
150,184
148,951
148,059 147,189 146,583 146 413 146,510
146,671 146,574 147,030 147,328 '148,150 148, 219
do
do
do
do
do
97, 967
3,721
11, 861
5,747
4,369
95, 754
3,630
13, 924
7,627
4,696
99.803
3,773
13,770
7,234
4,764
99, 378
3,728
14, 114
7,525
4,807
98,796
3,692
14.295
7,769
4,788
98,189
3,651
14,282
7,832
4,774
97,199
3,661
14,090
7,761
4,683
96 640
3 613
13* 789
7 498
4 669
96,215
3,605
13,776
7,536
4,655
95,953
3,585
13,898
7,618
4,720
95,754
3,630
13,924
7,627
4,696
95,664
3,632
13,903
7,718
4,636
95, 696 96,193
3,576 ' 3, 535
13, 924 '14,035
7,764 ' 7, 833
4,653 '4,664
do
do
do
do
do
do
11, 793
21, 552
14, 684
21, COO
6,697
4,329
10, 979
20, 988
13, 196
21, 171
5,917
3,830
11,885
22,478
14,088
21,335
6,296
4,045
11, 678
22, 312
13, 837
21,336
6,188
4,018
11,407
22,116
13,580
21.494
6,354
3,966
11,285
21,984
13,444
21,481
6,255
3,922
11,091
21,894
13,325
21,116
5,915
3,947
11, 028
21, 713
13, 212
21 357
5 991
3 835
10,914
21,503
13,245
21,300
6,002
3,818
10970
21,105
13,237
21,368
5,978
3 817
10,979
20,988
13,196
21,171
5,917
3,830
11,011
20,976
13,168
21,113
5,987
3,850
10, 958
20, 821
13, 136
21, 342
6,083
3,790
By stage of fabrication:
Materials and supplies 9
Primary metals
Machinery (elec and nonelec )
Transportation equipment
do
do
do
do
33, 393
5,408
11,277
4,866
30, 796
6,237
10, 161
4,490
33,738
6,357
11.323
4,714
33, 090
6,411
11, 125
4,636
32.676
6,478
10,922
4,761
32,159
' 6,462
10,723
4,789
31,626
6,277
10,683
4,629
31, 370
6,244
10, 551
4,696
31,072
6,238
10,393
4,600
30980
6,333
10,228
4,640
30,796
6,237
10,161
4,490
31,176
6,384
10,200
4,484
31, 148 ' 31,418
6,438 ' 6, 527
10, 081 ' 10,068
4,565 ' 4, 601
31, 080
6,557
10, 057
4,501
Work In process 9
Primary metals
Machinery (elec. and' nonelec.)
Transportation equipment
do
do
do
do
41, 506
3,728
15, 887
14, 247
41, 031
4,330
14, 657
14, 742
41,939
4,206
15,556
14,697
42, 022
4, 410
15,349
14, 753
41,917
4,439
15,169
14,822
42,031
4,491
15,208
14,756
41,692
4,471
15,080
14,535
41, 177
4,288
14, 878
14 713
41,175
4,267
14, 913
14,784
41,140
4,279
14,706
14,851
41,031
4,330
14,657
14,742
40,779
4,278
14,572
14,695
40, 805 ' 40,931
4,278 ' 4, 310
14, 438 ' 14,508
14, 875 ' 14,955
41,112
4,413
14, 543
15, 054
Finished goods 9 .
do
Primary metals
do
Machinery (elec. and nonelec ) do
Transportation equipment
do
23, 068
2,725
9,072
1,887
23, 927
3,357
9,366
1,939
24,126
3,207
9,687
1,924
24, 266
3,293
9,675
1,947
24,203
3,378
9,605
1,911
23,999
3,329
9,497
1,936
23,881
3,342
9,456
1,952
24 093
3 257
9 496
1 948
23,968
3,271
9,442
1,916
23,833
3,286
9,408
1,877
23,927
3,357
9,366
1,939
23,709
3,241
9,372
1,934
23, 743 ' 23,844
3,208 ' 3, 198
9,438 ' 9, 547
1,902 ' 1, 936
23, 934
3,238
9,526
1,966
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
52,437
12, 425
2,950
4,812
4,737
10, 605
3,925
3,267
50, 820
11, 738
3,255
4,589
4,552
10, 861
4,313
2,989
50,381
11,480
3,037
4,267
4,738
10.931
4,157
3,069
49, 573
11, 079
3,059
4,226
4,658
10, 888
4,066
3,055
49,263
10,702
3,095
4,200
4,597
10,921
4,107
3,053
49,000
10,679
3,121
4,243
4,489
10,683
4,144
3,022
49,384
10,992
3,149
4,314
4,582
10,821
4,158
2,956
49, 773
11, 362
3,113
4,384
4,573
10 783
4 212
2 941
50,295
11,687
3,262
4,473
4,571
10,750
4,242
2,964
50,718
11,909
3,248
4,610
4,573
10836
4,301
2,925
50,820
11,738
3,255
4,589
4,552
10,861
4,313
2,989
51,366
11,858
3,244
4,681
4,684
11,037
4,321
3,053
51,632
11, 774
3,371
4,709
4,686
11 039
4,378
3,036
52,093
11,858
3,326
4,677
4,738
11,145
4,284
3,028
20, 727
19, 671 19,734 19, 503 19,232
7,407
8,044
7,751 7,481
7,323
23, 666
23, 398 23,166 22, 747 22,624
' Revised.
» Based on data not seasonally adjusted.
2 Advance estimate; total mfrs.
shipments for Apr. 1976 do not reflect revisions for selected components.
cf As a result of
corrections in the aircraft, missiles, and parts industry data for this component have been
revised by the Bureau of the Census back to 1968. Revised data prior to May 1973 appear in
19,135
7, 457
22,408
19,130
7,540
22,714
19, 203
7,639
22, 931
19,657
7,635
23,003
19,526
7 722
23.470
19,671
7,751
23,398
19,892
7,830
23.644
20, 022 ' 20,363 20. 384
7 905 ' 7, 944 8 096
23. 705 ' 23.650 23. 613
Fabricated metal products
Machinery, except electrical
Electrical machinery
Transportation equipment
Motor vehicles and parts
Instruments and related products
11,350
644
3,252
3,881
8,111
6,044
2,207
do
do
do
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
2
' 10,942
' 20,901
' 13,222
' 21,492
' 6, 149
' 3, 744
' 51,957
' 11,846
' 3, 360
' 4, 658
' 4, 738
' 11,138
' 4, 388
' 3, 030
96, 126
3,555
14, 208
7,980
4,703
10, 695
20, 875
13, 251
21,521
6,197
3,720
two Census Bureau publications, "Change Sheets" to Mfrs'. Shipments, Inventories, and
Orders: 1967-73 (Series: M3-1.5), issued June and July 1974. c 9 Includes data for items not
shown separately.
ASee corresponding note on p. S-4.
Corrected.
SURVEY OF CURRENT BUSINESS
June 1976
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown
in the 1973 edition of BUSINESS STATISTICS
1975
1975
1974
Annual
S-7
Apr.
May
June
July
Aug.
1976
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 poods industries
do
Nondefense
do
Defense
do
Nf*W orders Tipf (not, Rftfts. adj.), totalrf A
Durable goods industries, totalcfA
Nondurable goods industries, total
do
do
do
14, 900
19, 530
37, 967
8,475
13, 195
56, 337
12, 835
19,264
37, 861
7,436
12, 639
56, 539
13, 071
19, 232
39, 369
7,934
12, 915
57,663
12,805
18,969
39,200
7,821
12,890
57,266
12, 623
18, 623
38, 959
7,964
12, 806
57, 084
12,653
18,472
38,844
7,824
12, 736
56,660
12,421
18,803
38,739
7,444
12,776
56,400
12,456
19,010
38,723
7,556
12,721
55,947
12,565
19,463
38,466
7,549
12,558
55,909
12,691
19,525
38,238
7,498
12,560
56,159
12,835
19,264
37,861
7,436
12,639
56,539
12,710
19,466
37,711
7,495
12,704
56,944
12,840
19,527
37,695
7,582
12,605
57,079
7 522
42,482
35, 939
6,543
6,430
42, 462
34, 656
7,806
6,807
43, 945
36, 967
6,978
6,684
43,774
36,664
7,110
6,511
43, 529
36, 162
7,367
6,394
43,439
35,984
7,455
6,280
43,346
35,771
7,575
6,247
43,232
35,545
7,687
6,325
43,022
35,292
7,730
6,361
42,869
35,045
7,824
6,430
42,462
34,656
7,806
6,212
42,310
34,668
7,642
6,253 '6 456 6 431
42,350 '42^483 42,509
34,505 '34 401 34 334
7,845 ' 8 082 8 175
79,129 77,840
39,256 ' 38, 717
39, 866 39,116
83,732
41,742
41, 989
78, 524
38, 839
39,685
83, 717
40. 707
43,009
88,838
43,910
44,928
89,252
43,933
45,319
85,649
41,446
44, 203
81,877 '82,929 '91,998 '96,943 95, 871
40,032 '40,616 '46,139 '50,156 ' 48, 945
41,845 42,313 45,859 '46,787 46, 669
1,002,135 976, 209
534,027 480, 580
468, 106 495, 616
2
' 13, 251
'19,604
'37,848
' 7, 684
'12,603
'57 160
13, 428
19, 546
37, 790
7 703
12 457
57 295
1
49, 165
2 1,002,135 976,209
78,008
78,900
79,789
83,304
85,137
85,482
86,336
86,351
86,754 '88,083 '90,201 '93,389
do
do. _
do
do
534,027
97, 233
49,036
33,855
480,580
71, 112
35, 922
23, 399
38,391
4,802
2,114
1,734
39,575
6,010
3,132
1,937
39,282
5,439
2,761
1,826
41,435
5,943
2,885
2,057
42,175
6,397
3,136
2,173
42,256
6,294
3,168
2,165
42,307
6,579
3,334
2,161
41,988
6,472
3,272
2,177
42,837 ••43,177 '44,975 '47,895 ' 47, 841 1 49, 815
6,615
6,657
6,678
7,397 ' 7, 238 i 8, 770
3,770
3,695
3,434 ' 3, 830
3,635
1,949
2,068
2,123 ••2,447
2,488
Fabricated metal products
do
Electrical machinery
Transportation equipmentcf A-
do
do
65,824
94,070
67, 646
113,431
27, 322
59, 524
84, 973
62, 376
108, 466
24, 154
4,813
6,946
5,316
8,738
1,736
4,844
7,117
5,183
8,769
1,974
4,700
6,984
5,153
9,194
2,021
5,111
7,368
5,279
9,793
2,222
5,179
6,929
5,809
9,758
2,016
5,196
7,120
5,144
9,982
1,885
5,282
7,425
5,510
9,371
2,041
5,302
7,629
5,595
8,741
2,077
5,405
5,163
5,575 ' 5, 519
5,776
7,363
7,118
7,404 ' 7, 650
7,986
5,860
4,941
6,043 '6,096
6,463
10,477 ' 9, 514 ' 10, 601'12,405 '11,572
2,105 ' 1,512 ' 1, 695 ' 2, 755
1,800
468,106
110,046
358, 060
495, 616
113, 539
382, 077
39, 617
8,911
30,706
39,325
9,010
30,315
40, 507
9,346
31, 161
41,869
9,740
32,129
42,961
9,806
33,155
43,226
10,166
33,060
44,029
10,295
33,734
44,363
10,492
33,871
43,917
10,138
33,779
44,906
10,597
34,309
7,148
16,716
10, 967
6, 930
5 664
30,582
7,129
16,293
10,910
6, 988
5,894
31,686
7,185
16, 807
10, 964
7,155
5,803
31,875
7,582
17,176
10,976
7, 589
6,233
33,748
7,648
17,220
11,442
7,845
6,316
34,666
7,934
17,078
10,961
8,004
6,309
35,196
8,138
17,378
10,870
7,491
6,452
35,795
8,164
17,295
11, 409
6,951
6,642
35,890
8,108
17,187
10733
8,536
6 822
35 368
8,287 '8,448
8,249
17,866 17,701 '17,852
10 581 '11,344 '11,513
8,845 ' 9, 950
8,480
6 938 ' 6, 719
6 755
36 152 37,086 '38,907
3,228
11,948
10, 309
1,639
3,218
11,961
10,302
1,659
3,217
12,047
10, 138
1,909
3,440
12, 546
10,728
1,818
3,466
12, 440
10,392
2,048
3,555
12,205
10, 214
1,991
3,629
11, 885
10, 689
1,196
3,619
12, 440
10, 690
1,750
3,492
11,657
10,156
1,501
3,601 '3,755 ' 3, 759 i 3, 902
3,588
11, 741 '12,494 13, 617 '13,674 113,617
10, 351 10, 710 ' 10, 984 '11,530 111,802
' 1, 390 ' 1, 784 ' 2, 633 ' 2, 144 i 1, 815
120,557 119,739
115,426 114,698
5,131
5 041
119,309 '119,487 '120,251 120, 625
114,050 '114,063 '114,782 '114,952 1114,647
5 424 ' 5 469 5 682
5 259
New orders net (^Pfl^ ftdj ) total rf A
By industry group:
Durable goods industries, total 9 cf A
Primary metals A
Blast "furnaces steel mlllsA
Nonferrous metals
Nondurable goods industries total
Industries with unfilled orders©
Industries without unfilled orders^
do
do
do
do
By market category:
Home goods and apparel _
_
_ _ d o _ 2 87, 313 288,371
2 188,082 22 202,024
Consumer staples
do
2
139 226 2130,784
Equip and defense prod excl auto cf do
2 86, 755 2 85, 336
Automotive equipmentA
do
2 80 740 2 72, 896
Construction materials and supplies
do
2
420 017 396,766
Other materials and supplies A
do
Supplementary series:
Household, durables
.
_ _
do _. 2 38, 411 22 39, 314
Capital goods industriescf
do --- 2 160,802 2 144,343
22137,933 2 123,137
Nondefense of
do
21, 206
22, 869
Defense cf
do
Unfilled orders, end of year or month (unadjusted),
total cf A
.
mil $
Durable goods industries, totalcfA
do
Nondur goods ind with unfilled orders©
do
Nonferrous metals
1
11, 218
46, 292
11, 140
35, 152
8,720
18, 222
12, 381
9,655
7 070
38 363
136,226
132,444
3 782
119, 739
114, 698
5,041
126,643 124,122 122,274 123,807 123,749 122,519 121,217
122,734 120,108 118,065 119,417 119,243 117,868 116,306
4,014
4,911
4,390
4,651
3 909
4,209
4,506
137,328
120, 659
125,347
124,513
do
133,440
20, 698
13 751
3,411
115, 494
14,084
9,287
2,629
121,512
15,088
9 525
2,664
120,593 119,123 119,203 118,940
15,077 14,556 14,452 14,424
9 179
9 568
9 286
9 196
2,749
2,714
2,714
2,679
118,004
13,740
8 647
2,705
116,710
13,778
8,795
2,684
116,342 115,494 '114,101 '113,374 '113,722 '113,828 1115,231
14,084 13, 920 13, 817 '14,074 '14,216 1 15, 379
13,836
9 362 ' 9, 455 9,413
8 935
9 463
9 287
2,629
2,557 ' 2, 768 2,960
2,521
2,700
do
do
do
do.
do
do
19 710
29, 592
20, 575
34, 375
21, 487
3,888
17,686
25, 044
18, 564
31, 848
20, 639
5,165
18 712
27, 381
19, 577
32, 759
20 755
3 835
18 523
27,169
19,346
32, 495
20710
3,920
18 326
26, 776
19, 173
32, 236
20, 572
4,148
18253
26355
19,084
32, 514
20, 799
4,342
18 206
26,485
19,422
32, 237
20 661
4,537
18097
26,209
19,112
32, 396
20 529
4,757
17,867
25,859
18,989
32, 033
20, 471
4,987
17 919
25656
19,057
31,668
20 490
5 188
17 686 17 470 17310 ' 16, 927 16 684
25 044 24,755 24,435 '24,049 23, 933
18,564 18,612 18,778 '18,874 19, 031
31,848 '31, 093 '30,749 '31,497 '31,454 131,322
20 639 r 20 145 '19 619 ' 20, 225 19, 727
5,567
5 165
5 383 ' 5, 371
5 367
do
do
do
do
2
65
17
51
317
981
773
257
2,384
60, 437
16, 110
41, 728
2 125
62,711
16 947
43,564
2,120
62,432
16736
43,225
2 169
61,969
16 583
42,550
2,264
61,881
16 439
42,961
2 316
62,022
16 444
42,695
2 382
61,945
16 262
42,172
2,367
60,970
16,006
42,141
2 404
60, 967
16 066
42093
2 384
60437
16 110
41 728
do
dc
do
do
1 769
74, 930
50,318
24, 612
1,731
68, 427
43, 024
25, 403
1,554
71, 592
46, 709
24, 883
1,546
71, 179
46,304
24, 875
1,550
70, 664
45, 546
25, 118
1,635
70, 891
45, 523
25, 368
1,670
70, 791
45, 106
25, 685
1,701
70, 589
44, 578
26,011
1,710
69, 429
44,090
25, 339
1 765
69, 367
43, 801
25, 566
1 720
1 731
1 668 ' 1 712'1,698 i 1, 680
68,427 '67,357 '66 729 1 66, 969 '67,080 167,104
43,024 42, 415 41, 902 '41,395 '41,225 141,270
25,403 '24 942 ' 24, 827 • 25, 574 '25,855 125,834
319 149
328, 781
28 440
26 506
28 117
26, 634
28 135
26 843
30447
28,896
26 099
28 708
27 283
29 364
29, 934
29, 517
24 400
29 184
30 021
30 261
Unfilled orders, end of year or month (seasonally
adjusted) totalcfA
mil $
By Industry group:
Durable goods industries, total 9 cf A
do
Primary metalsA do
Fabricated metal products
Machinery except electrical
Electrical machinery _ _ .
Transportation equipmentcf
Aircraft missiles, and partscf
Nondur goods ind. with unfilled orders©
By market category:
Home goods apparel consumer staples
Equip, and defense prod incl auto cf
Construction materials and supplies
Other materials and supplies A
Supplementary series:
Household durables
Capital goods industriescf.Nondefensecf
Defensecf
45,226 '45,494
10,711 10, 648
34,515 '34,846
94, 411
123,271 123,545 123,477
122,761 121,697 121,530
120,659 119,468 '118,757 '119,093 119,384
r
2 421
2 347 ' 2, 417
59 723 '59 348 ' 59, 199
16 016 15 901 '15 322
41 308 41 161 '42,155
2,426
59, 508
15 049
42, 401
BUSINESS INCORPORATIONSG
New incorporations (50 States and Dist. Col.):
Unadjusted
number
Seasonally adjusted!
do
30 315 '27 119 p35 083
29 604 '28 973 p30 910
INDUSTRIAL AND COMMERCIAL
FAILURES©
3 904
965
11, 432
Failures, total
number
1 045
987
756
805
853
1 202
9 915
801
867
891
886
132
1,637
164
141
Commercial service
do
107
153
117
115
130
133
121
108
164
1 320
2,262
186
188
Construction
_.
do
223
171
136
178
152
177
167
158
258
138
1 840
121
1,645
121
145
Manufacturing and mining
do
110
114
128
123
140
170
109
144
109
1 557
434
Retail trade
do
4,799
411
425
309
336
380
365
351
4 234
494
358
408
378
1,089
105
Wholesale trade ..
do
90
99
84
90
80
116
66
79
82
87
84
*964
Liabilities (current) total
thous $ 3 053 137 4,380,170 372 076 357 788 175 917 3242 028 222 442 205 526 1 295 393252 868 136 881 °57 071 211 762 247 653
Commercial service
do
348 166 475, 485 117 559 23, 086 201 404 77,441 31*684 20 803 43 711 15 756 29 591 29, 263 32 144 27, 034
Construction
do
526 598 640, 845 58 581 199, 262 27, 248 57, 483 32, 497 31 918 54 648 28, 756 19, 206 42, 933 34, 873 37, 342
Manufacturing and mining.
___
do
833, 824 1,020,609 107, 746 55, 459 47, 471 38, 417 57, 046 49, 124 92 736 120, 243 41, 214 71, 485 52, 958 105, 665
Retail trade... . _
do
1 069 656 1,835,908 59 483 40, 497 50 643 42, 232 70 889 84 673 1 083690 55 134 30 643 89, 535 58 004 43, 577
Wholesale trade
do
274 893 407, 323 28 707 39, 484 30, 151 26, 455 30 326 19 008 20 608 32, 979 16, 227 23, 855 33, 783 34, 035
Failure annual rate (seasonally adjusted)
2
43.4
38.2
No. per 10,000 concerns..
36.5
37.0
35.4
36.9
36.3
42.2
42. 6
41.4
44.9
238.4
49.1
341.9
'Revised.
P Preliminary.
1 Advance estimate; totals for mfrs. new and unfilled orders
For these industries (food and kindred prod., tobacco mfs., apparel and other textile
2
prod., petroleum and coal prod., chem. and allied prod., rubber and plastics prod.) sales are
or3 Apr. 1976 do not reflect revisions for selected components.
Based on unadjusted data.
Includes data for Hawaii.
cfSee corresponding note on p. S-6.
9 Includes data for items not shown separately.
©Includes textile mill prod., leather and prod., paper and allied prod., and print, and pub.
md., unfilled orders for other nondurable goods are zero.
considered equal to new orders.
O Compiled by Dun & Bradstreet, Inc. (failures data
for 48 States and Dist. of Col.; Hawaii included beginning July 1975).
t Revised back to
Mar. 1971 to reflect new seas, factors; revisions prior to Feb. 1973 will be shown later.
A See
corresponding note on page S-4.
SUEVEY OF CUKEENT BUSINESS
S-8
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown in
the 1973 edition of BUSINESS STATISTICS
1975
1975
1974
Apr.
Annual
June 1976
May
June
July
Aug.
1976
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?
do
Dairy products
do
Meat animals
do
Poultry and 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
(17. -S. Department of Labor Indexes)
Not Seasonally Adjusted
AllltemsH -- --- 1967=100..
Special group indexes:
All items less shelter^
do __
All items less food^f .
_
__do
All items less medical carelf
do
Commodities^
do
Nondurables
do
Nondurables less food
do
Durables^..
.
do. __
Commodities less foodH .
do
Services
do
Services less rent
...
. ...do ...
Food 9
.
d
o
Meats, poultry, and
fish
do
Dairy products
_
do_ _
Fruits and vegetables
do
Housing
.
do
Shelter?
_.
.
. .do
Rent
do
Homeownership
do
Fuel and utilities 9
do
Fuel oil and coal
do
Gas and electricity
..
do
Household furnishings and operation., do
Apparel and upkeep
do
Transportation^!
_
-do
Private^
do
New cars ..
do
Used carsIT
..
do
Public
do
Health and recreation 9
do
Medical care ..
_ ..
do
Personal care
_
do
Reading and recreation
_
__do
Seasonally Adjusted!
All items, percent change from previous month
Commodities!
1967=166
Commodities less food f
do
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
Services*
do
467
483
409
433
420
530
349
821
453
489
555
214
P459
M38
?474
?342
?402
J>425
"355
*>900
P477
*510
P588
P228
431
425
477
272
402
430
343
924
435
474
535
202
452
428
462
307
407
407
375
923
473
471
611
208
463
435
539
311
396
353
392
922
487
468
640
209
476
450
516
342
397
397
392
833
498
478
652
220
476
454
440
362
423
446
358
864
495
500
631
228
492
457
460
377
409
463
383
921
522
528
661
245
490
449
438
420
394
454
352
923
525
561
656
236
470
425
456
419
362
408
339
874
509
588
601
248
475
426
502
422
366
390
337
871
518
600
608
257
472
426
496
421
373
390
315
874
512
599
601
249
475
430
454
420
379
410
329
874
513
588
612
244
468
433
467
426
381
400
345
874
497
572
597
228
2473
2435
2468
2424
2373
2391
2318
2877
2 512
2580
2631
2225
479
450
447
484
398
384
317
877
509
571
624
233
505
519
494
552
571
539
••542
'558
'531
548
565
536
554
568
545
557
574
545
561
575
550
566
579
558
564
581
552
565
586
550
566
586
552
569
589
554
571
589
558
2564
2555
2564
'570
557
570
568
557
568
578
81
632
73
'622
69
628
72
634
73
637
75
640
74
646
76
645
76
645
73
647
73
659
72
661
72
2652
271
'658
72
656
73
147.7
161.2
158.6
159.3
160.6
162.3
162.8
163.6
164.6
165.6
166.3
166.7
167.1
167.5
168.2
169.2
146.1
143.7
147.7
145.5
151.0
140.9
130.6
136.6
152.1
156.0
161.7
163.9
151.9
165.8
150.6
154.4
130.6
163.2
150.2
214.6
145.8
140.5
136.2
137.7
136.6
117.5
122.6
148.0
140.3
150.5
137.3
133.8
159.1
157.1
160.9
158.4
163.2
151.7
145.5
149.1
166.6
171.9
175.4
178.0
156.6
171.0
166.8
169.7
137.3
181.7
167.8
235.3
169.6
158.1
142.3
150.6
149.8
127.6
146.4
158.6
153.5
168.6
150. 7
144.4
156.3
154.9
158.2
155.7
160.1
149.8
143.6
147.2
164.1
169.2
171.2
161.8
154.8
167.8
164.7
167.6
135.9
179.4
164.6
229.0
166.3
156.8
141.3
146.2
145.5
127.5
138.1
152.4
152.1
165.8
149.5
143.5
157.0
155.6
158.9
156.5
160.8
150.5
144.8
148.1
164.5
169.6
171.8
168.2
153.6
169.0
165.3
168.2
136.4
180.1
165.5
230.2
167.3
157.4
141.8
147.4
146.8
126.8
142.2
152.5
152. 6
166.8
149.9
143.8
158.4
156.6
160.3
157.9
162.4
151.2
145.8
148.9
165.7
170.9
174.4
177.2
153.3
177.4
166.4
169.4
136.9
181.4
166.9
230.6
169.4
158.1
141.4
149.8
149.3
127.0
147.5
154.1
153.2
168.1
150.3
144.1
160.3
157.6
162.0
160.1
165.0
152.2
146.9
149.9
166.6
171.9
178.6
187.7
153.4
188.8
167.1
170.2
137.3
182.3
168.0
234.1
170.4
158.3
141.1
152.6
152.3
126.6
153.2
155.0
154.0
169.8
151.2
144.4
160.8
158.3
162.4
160.4
165.2
153.0
147.5
150.7
167.4
172.7
178.1
189.7
154.3
177.9
167.7
170.7
138.0
182.8
168.9
235.7
171.2
158.8
142.3
153.6
153.4
126.8
156.1
155.0
154.6
170.9
151.4
144.7
161.6
159.5
163.2
160.8
165.4
153.8
148.2
151.4
169.1
174.6
177.8
190.3
156.3
167.4
168.9
171.6
138.4
183.9
170.9
238.7
174.0
160.1
143.5
155.4
153.9
126.5
156.6
169.5
155.4
172.2
152.1
146.0
162.6
160.4
164.1
161.7
166.4
154.6
148.9
152.2
170.1
175.7
179.0
192.9
159.4
165.5
169.8
172.5
139.3
184.8
172.0
243.3
174.2
160.9
144.6
156.1
154. 8
129.9
156.5
168.8
156.3
173.5
152.9
146.6
163.4
161.5
165.2
162.2
167.1
155.1
149.2
152. 6
172.0
177.7
179.8
191.4
162.8
168. 7
171.3
174.1
139.9
186.8
174.4
246.5
176.8
161.6
145.5
157.4
156.1
131.3
153.7
168.9
156.5
173.3
153.6
147.0
164.1
162.1
165.8
162.7
167.6
155.4
149.3
152.8
173.1
179.0
180.7
189.2
165.5
172.1
172.2
175.0
140.6
187.8
176.1
248.7
179.0
162.0
145.2
157.6
156. 2
134.0
149.6
170.1
157.5
174.7
154.6
147.5
164.4
162.6
166.2
162.4
167.3
154.7
149.0
152.3
174.9
181.0
180.8
186.5
168.2
173.3
173.2
175.9
141.2
188.8
176.3
248.9
179.5
163.7
143.3
158.1
156.8
134.2
144.6
170.2
158.6
176.6
155.7
148.2
164.9
163.4
166.5
162.3
167.2
155.2
149. 3
152.7
176.1
182.2
180.0
183.0
168.5
173.2
173.8
176.0
142.1
188.6
177.9
249.4
181.9
165.2
144.0
158.5
157.2
134.3
144.9
170.4
159.7
178.8
157.0
148.5
165.3
164.2
166.8
162.3
166.7
155. 5
150.4
153. 3
177.2
183.4
178.7
180.2
167.9
173.6
174.5
176.3
142.7
188.7
178.9
247.6
183.7
166.6
145.0
159.8
158.5
134.5
150.9
172.3
160.6
180.6
157.4
149.0
166.1
165.0
167.4
163.1
167.2
156.0
151.9
154.2
177.7
184.0
179.2
178.0
167.9
179.0
174.9
176.6
143.2
188.9
179.3
246.6
184.4
167.4
145.7
161.3
160.1
134.4
159.4
172.4
161.4
181.6
158.3
149.5
167.1
166.0
168.4
164.2
168.1
157.0
153.5
155.5
178.4
184.7
179.9
181.1
167.4
176.4
175.6
177.3
143.8
189.6
180.2
246.2
186.1
167.9
146.8
163.5
162.5
134.5
167.8
172.4
162.1
182.6
158.9
150.3
0.5
155.6
147.4
171.0
170.6
163.3
225.6
141.4
146.6
145.9
127 4
164.3
0.5
156.5
147.9
172.5
172.3
164.7
228.4
141.5
147.1
146.4
127.0
164.9
0.7
157.6
148.5
174.6
174.9
166.9
231.1
141.4
148.6
148.1
127.1
166.0
1.0
159.6
149.8
177.8
178.6
168.8
237.0
142.3
151.2
150.8
126.9
166.9
0.4
160.1
150.7
177.5
178.1
170.1
241.8
143.4
152.7
152. 5
127.7
167.6
0.4
160.6
151.2
178.0
178.4
172.5
246.2
142.8
155.5
154.0
129.0
169.0
0.6
161.5
151.7
179.6
180.2
173.8
249.1
143.2
155.9
154.6
129.5
170.0
0.6
162.2
152.2
180.6
181.2
175.1
248.1
143.6
157.4
156.1
130.5
171.7
0.5
162.9
152.8
181.6
182.1
176.3
247.5
144.1
158.3
157.0
133.4
172.8
0.4
163.1
153.1
181.2
181.4
175.6
244.0
145.0
158. 7
157.4
133.1
174.7
0.1
162.7
153. 5
179.4
178.6
176.1
242.6
145.0
160.1
158.9
133.8
176.0
0.2
162.4
153.9
177.9
176.5
177.5
242.3
145.4
160.8
159.5
134.2
177.2
0.4
163.1
154.4
178.9
177.7
177.9
243.0
145.8
161.8
160.6
134.3
178.0
0.6
164.3
155.3
180.6
179.5
179.3
244.2
146.5
163.2
162.0
134.8
178.8
195.5
236.0
171.5
175.7
205.6
249.8
179.6
176.7
206.3
242.8
184.2
177.7
201.4
233.2
181.9
178. 9
191.7
210.1
179.8
178.2
189.7
203.3
180.6
178.7
190.4
200.5
183.6
179.3
193.2
202.9
186.6
179.3
196.0
200.0
193.2
179.6
202.3
204.3
200.9
181.3
202.8
202.7
202.7
181.8
203.0
179.3
164.5
165.0
162.4
204.1
180 9
164.9
165.3
163.0
207.5
181.0
166.2
166.7
164.0
206.8
182.2
168.0
168.3
166.5
199.8
182.3
168.0
168.1
167.4
201.3
182.6
168.5
168.5
168.0
201.2
183.7
168.7
168.3
169.5
199.5
184.5
168.2
167.4
169.9
199.1
185.6
167.9
166.8
170.5
205.3
186.8
169.0
168.0
171.1
205.7
187.5
169.3
168.4
171.3
WHOLESALE PRICESd*
(U.S. Department of Labor Indcxct)
Not Seasonally Adjusted
Spot market prices, basic commodities:
194.5
187.2
201.2
i 227. 9 i 198. 2
22 Commodities
1967=100
210.3
209.4
9 Foodstuffs
do
i 243. 2 i 227. 3 224.6
184.2
173.2
i
180.
4
186.4
13 Raw industrials. ._
do
i 219. 0
173.2
173.7
174.9
172.1
All commodities
...
do..
160.1
By stage of processing:
196.7
197.1
196.9
189.4
196.1
Crude materials for further processing
do.u_.
178.4
178.4
162.9
180.0
179.0
Intermediate materials, supplies, etc
do
161.2
162.5
163.4
160.0
147.5
Finished goodsO. ,
.-- ..
do
161.1
162.6
163.6
159.7
149.3
Consumerfinishedgoods
:
.do...
161.2
161.7
162.5
141.0
160.7
Producer finished goods
do...
By durability of product:
165.3
165. 2
165.8
164.8
150.1
Durable goods
...
__
do
180.2
179.1
167.6
181.7
177.6
Nondurable goods
do
170.1
169.5
171.1
168.7
154.1
Total manufactures
do
164.9
165.1
164.4
165.6
148.6
Durable manufactures . .
do
174.1
175.1
173.1
159.5
176.6
Nondurable manufactures
_.do _
r
2
Revised.
J> Preliminary.
1 Computed by BE A.
Effective with data for April
1976 for prices received and March 1976 for prices paid, indexes reflect new base weights; comparable data for earlier periods will be shown later.
9 Includes data for items not shown
separately.
§ Ratio of prices received, to prices paid (parity index).
cfFor actual wholesale prices of individual commodities see respective commodities.
O Goods to users, incl.
171.7
174.2
172.7
173.8
170.8
168.8
168.2
169.4
165.1
166.5
165.7
184.9
184.6
187.3
186.7
185.7
185.3
185.8
183.6
186.9
186.1
184 9
176.0
175.6
177.6
177.0
174.4
175.3
174.7
174.5
171.4
173.0
172.3
173.6
171.4
172.3
173.1
170.7
169.4
168.2
168.8
165.2
166.2
165.7
179.4
181.3
179.6
180.7
179.9
180.1
181.0
180.1
179. 9
177.6
179.1
{Data ha ve been r evised ba ck to 1967 to reflec t new me thod of s sasonally
raw ftX)ds and fuels,
11Effective
adjus ting the indexes; compara ble data for earlie r periods will be shown lat er.
with the Dec smber 19 74 SUEVI:Y, index es have 1 )een revi sed back to April 1974 to r 3flect the
*New sseries; da ta for ear lier peric ds will t e shown
corre ction in 1 he used car comp onent.
later.
SURVEY OF CURRENT BUSINESS
June 1976
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown
In the 1973 edition of BUSINESS STATISTICS
1974
1975
1975
Apr.
Annual
S-9
May
July
June
1976
Aug.
Sept.
Oct.
Nov.
Jan.
Dec.
Feb.
Mar.
Apr.
May
COMMODITY PRICES—Continued
WHOLESALE PRICES^— Continued
( U.S. Department of Labor Indexes)— Continued
All commodities— Continued
Farm prod., processed foods and feeds. 1967 =100..
Farm products 9 do
Fruits and vegetables, fresh and dried. .do
Grains
- do
Live poultry
do
Livestock
do
Foods and feeds, processed 9
Beverages and beverage materials
Cereal find bakery products
Dairy products
.Fruits and vegetables, processed
Meats poultry and
fish
Industrial commodities _
177.4
187.7
192.3
257.9
157.4
170.6
184.2
186.7
183.7
223.9
189.8
187.9
178.8
177.7
183.4
218. 5
168.3
173.5
181.2
184.5
183.1
213.0
177.6
197.9
182.3
1*6.2
206.7
203.3
190. 6
202.4
188.2
193.7
208.6
219.3
219.1
211.3
189.0
193.2
179.6
237.8
202.4
203.0
190.4
197.1
182.6
232.9
203.9
209.9
190.5
197.3
183.3
227.4
210.8
207.8
186.1
191.7
179.0
207.9
203.7
193.4
186.0
193.8
190.3
205.5
181.3
191.6
184.6
192.8
194.8
210.5
169.0
184.7
182.0
191.0
192.6
214.3
173.1
179.5
180.3
187.2
184.5
217.8
182.6
170.7
183.7
192.9
195.0
209.0
165.4
192.3
184.9
192.6
179.0
213.5
174.3
186.9
do
do
do
do
do
do
170.9
140.7
171.2
146.4
154.6
163.5
182.6
162.4
178.0
155.8
169.8
191.0
179.4
161.7
179.1
148.9
170.8
174.4
179.0
161.0
176.2
149.6
171.0
190.7
179.7
16C. 4
174.4
150.5
170. 9
199.6
184.6
159.4
176.7
153.2
169.4
209.7
186.3
161.6
175.8
156.3
168.6
204.5
186.1
162.5
177.0
160.8
168.4
209.8
186.2
165.1
177.6
165.6
169.3
210.4
182.6
165.1
177.0
168.1
169.0
200.8
181.0
165.4
174.6
171.3
168.5
198.1
179.4
165.1
174.7
169.7
167.6
193.2
176.4
167.0
175.1
163.4
166.7
186.1
175.8
167.0
174.5
166.7
166.5
180.6
178.0
169.3
172.8
167.7
167.1
189.2
179.9
172.3
173.4
167.1
167.9
190.3
do
153.8
171.5
169.7
170.3
170.7
171.2
172.2
173.1
174.7
175.4
176.1
177.3
178.0
178.9
180.0
180.4
181.2
211.0
207.0
126.4
246.7
165. 9
181.4
210.3
206.3
127.5
260.4
167.1
182.1
206.5
207. 4
127.5
285.7
167.1
182.2
201.2
208.2
127.4
289.7
169.7
184.2
199.7
212.6
130.0
246.4
170.2
184.9
192.3
215.6
131.7
245.3
171.6
185.6
190.8
217.1
132.7
256.2
171.6
187.1
190.6
218.4
133.0
243.6
172.9
186.9
189.6
218.5
133.1
235.5
172.9
252.4
377.9
254.9
373.3
182.9
197.7
210.4
128.8
260.6
170.2
257.0
364.6
183.4
197.9
211.1
129.3
257.3
170.2
246.6
382.2
192.6
226.4
258.8
182.3
199.9
209.2
128.5
264.3
169.7
256.5
371.3
258.0
371.2
257.3
370.3
255.7
369.3
198.9
246.7
272.9
255.7
368.3
201.5
254.3
269.6
256.9
367.8
204.6
266.1
267.0
257.2
367.4
204.9
267.8
266.8
139.2
132.2
145.4
93.3
139.8
143.4
137.2
150.5
91.7
143.9
138.2
150.8
91.2
144.4
138.7
151.0
91.2
144.8
138.8
151.7
91.2
149.3
147.5
157.5
151.5
159.9
153.0
229.4
173.2
196.0
219.4
162.0
153.9
236.9
178.7
202.3
230.4
165.4
155.3
270.4
183.8
203.3
230.7
169.6
156.2
286.4
203.3
202.3
227.3
do
do
do _ _ .
do
do
do
146.8
137.7
151.7
112.7
338.2
145.7
181.3
203.6
206.9
126.6
255.2
166.9
182.4
212.5
207.4
125.9
261.5
164.7
182.1
212.1
208.8
125.9
250.5
166.1
Fuels and related prod., and power 9H---do —
Coal
do
Electric power If
do
Gas fuels If
do
Petroleum products, refined If
do
208.3
332.4
163.1
162.2
223 A
245.1
385.8
193.4
216.7
257.5
236.5
387.3
194.6
206.9
243.6
238.8
389.3
192.9
219. 1
246. 1
243.0
385. 9
Furniture and household durables 9
.do
Appliances, household
. . _ . do
Furniture household
do
Home electronic eQuipment _
..do
127.9
117.9
136.6
93.1
139.7
132.3
146.3
93.5
138.5
130.6
145.4
91.9
138.6
131.0
145.3
91.9
139.0
132. 2
145.3
93.0
Chemicals and allied products 9 If
Agric chemicals and chem. prod.
Chemicals, industrial 1f . .
Drugs and Pharmaceuticals
Fats and oils inedible
Prepared paint
--
190 6
f) CO
f)
1 Q^ 9
1QQ °»
244.0
273.1
231.5
231. 6
274.2
140.1
141.1
134. 1
147.8
92.8
141.5
151.3
149.5
192.3
152.4
150.1
201.0
154.4
150.2
154.6
150.5
162 4
1fi9 Q
o
179.9
179. 1
196.0
17R H
1QO "I
9RS fi
1 39 A.
1 /JC C
92.8
148.5
147.8
174.5
151.5
176.9
192.5
147.5
146.8
173.9
151.5
174.9
189.3
147.7
146.9
170.6
153.3
183.0
200.7
181.0
199. 7
149.3
147.3
186.8
152.6
179.6
196.8
Machinery and equipment 9
Agricultural machinery and equip
Construction machinery and equip
Electrical machinery and equip .
Metalworking machinery and equip
139.4
143.8
152.3
125.0
146.9
161.4
168.6
185.2
140.7
171.6
159.7
166.7
183.8
139.5
169.6
160.4
167.5
184.0
140.1
170.2
161.0
167. 8
184.4
140.4
171. 9
161.7
168.5
184.9
140.8
172.7
162.2
168.9
185.4
140.9
173.0
163.1
169.2
187.5
141.8
173.1
164.1
171.3
188.6
142.3
175. 1
165.3
185.1
184. 5
184.3
150. 3
198.4
169.3
185.5
150.3
200.4
170.8
187.2
151. 9
204.7
170.7
do
do
do
do- _
do
m
-IOC
7
92.8
145.1
140.0
195.9
154.3
183.6
207.1
1 Cfi R
•i ei c
142.0
1 AQ fi
Hides, skins, and leather products 9
do
Footwear
do
Hides and skins.. __
_. __do _ _
Leather
do
Lumber and wood products
. do
Lumber
do
148.7
146.9
182. 5
1O7 fi
OftQ I
143.1
136.3
92.3
one 9
1 oq -I
Of|ft 9
o
17C 1
165.8
167.0
191.2
143.1
192.5
143.1
193.3
144.0
167.7
177.3
194.4
144.4
178.8
168.2
178.6
194.7
144.6
179.4
168.9
179.3
195.0
144.9
180.5
169.4
180.7
196.4
145.0
181.4
187.0
187.1
204. 1
204.3
169.4
187.7
155.7
205.9
169.0
189.2
155.4
209.6
169.7
190.6
155.2
211.3
171.5
192.9
156.0
213.2
177.6
194.0
156.9
213.1
181.6
m
17fi Q
171.9
135.0
178.6
187.1
185. 6
150.7
200.9
171.6
185.7
149.8
201.1
172.2
200.6
171. 1
199. 4
169. 1
183.4
150.2
197.3
167.7
NonmetalUc mineral products 9
do_
Clay prod., structural, excl. refrac
do
Concrete products
do
Gypsum products
do
Pulp, paper, and allied products
_
do_
Paper... _ _ .
_ _do
Rubber and plastics products
do .
Tires and tubes
do
153.2
135.2
151.7
137.6
151.7
148.6
136.2
133.4
174.0
151.2
170.5
144.0
170.4
172.9
150.2
148.5
173.0
148.7
169.9
144.0
169.7
173.1
149.4
145.1
173.1
149.2
170.0
143.5
169.8
172.6
148. 9
145.4
173.3
151. 0
170.3
143.4
169.8
172.5
148, 6
145.4
174.7
151.3
171.2
140.8
170.0
172.4
150.1
151.8
175.8
152. 3
171.3
143.2
170.0
172.4
150.0
152.1
176.1
154.0
171.2
143.8
170.3
172.4
150.8
152.1
177.1
155.8
172.3
145.2
170.9
173.0
151.5
152.2
177.7
156.3
172.6
146.9
171.3
172.9
151.8
151.9
178.0
156.3
173.1
144.3
173.1
173.7
151.9
151.7
181.1
159.0
177.2
150.2
174.8
176.3
152.4
151.8
181.3
159.7
177.8
148.4
175.8
176.6
154.2
152.0
182.5
160.2
177.7
150.4
176.9
178.0
155.5
155.5
185.2
160.9
178.5
150.9
178.5
179.7
156.7
155.5
185.6
161.6
178.8
153.7
179.2
181.7
Textile products and apparel §
do
Synthetic
fibers
Dec 1975— 100
i~ ocess a ^yarns ana inreaas
ao
j » y~.
**
t y
Apparel
1967= 100 _
Textile house furnishings
do
139.1
137.9
134.4
135.2
135.9
136.8
137.6
138.4
141.3
143.2
144.0
133.4
151.9
133.0
151.7
132.2
151.7
132.5
151.7
132.4
151.7
132.8
151.7
133.1
152.6
133.6
153. 3
134.8
153.3
135.1
153.3
146.3
101.7
101.5
103.0
100.5
137.4
156.2
146.7
102.1
101.5
103.3
100.8
137.8
156.6
147.4
102. 6
99.9
103.5
102.4
138.6
157. 1
147.0
129.5
143.1
145.1
101.3
101 5
101.8
99.3
136.5
153.8
Transportation equipment 9. ..Dec. 1968=100..
Motor vehicles and equip
1967 = 100.
125.5
129.2
141.5
144.6
139.9
143.0
139.9
142.9
140.1
143.1
140.1
143.1
140. 5
143.5
141.1
143.9
146.6
150.0
147.2
150.6
147.5
150.9
148.7
151.3
148.8
151.3
149.1
151.7
149.2
151.9
149.0
151.6
Metals and metal products 9_. _
Heating equipment
Iron and steel
Nonferrous metals
.
do
do
do
do
155. 5
98.9
104.8
101.6
137.9
Seaaonally Adjusted {
All commodities, percent change from previous
month
By stage of processing:
Crude materials for further processing 1967—100
Intermediate materials, supplies, etc . do
Finished goods:
Consumer finished goods
do
Food
.
do
Finished goods, exc. foods
do
Durable
do
Nondurable
do
Producer finished goods
do
By durability of product:
Total manufactures
..
Durable manufactures
Nondurable manufactures
.
do
do
do
Farm products
do
Processed foods and feeds
do
PURCHASING POWER OF THE DOLLAR
As measured by—
Wholesale prices
1967=$1.00__
Consumer prices
.
do
$0. 625
.678
$0. 572
.621
0.9
0.6
192.7
178.6
198.3
177.5
0
197.0
177.3
0.9
0.9
1.1
0.1
0.3
-0.2
-0.4
0.2
0.8
0.3
198.8
179.7
203.7
180.6
207.0
182.8
207.0
183.4
204.5
184.2
201.3
184.7
198.8
196.9
208.8
207.2
166.7
166.0
168.4
168.9
•IQC q
IRfi ft
160.0
175.9
150.3
137.0
159.2
160.9
161.6
179.6
150.8
137.0
159.9
161.3
162.9
181.7
151.5
137.3
160.8
161.8
164.2
183.6
152.6
137.4
162.4
162.6
164.9
183.2
153.9
137.8
164.4
163.1
167.1
186.6
155.4
138.8
166.3
164.3
168.7
187.9
157.0
140.7
167.9
166.3
169.2
187.6
158.2
141.8
169.0
167.1
169.4
187.0
158.9
141.9
170.1
167.9
167.9
182.0
159. 1
142.5
170.2
169. 1
169.0
164.2
174.1
169.3
164.2
174.6
169.8
164.3
174.9
170.5
164.5
176.5
171.4
165.0
178.0
172.7
166.0
179.4
174.7
168.4
181.0
175.3
169.5
181.6
175.8
170.6
181.2
175.5
171.4
179.9
176.0
178.1
180.7
186.0
181.0
184.5
180.4
189.9
182.5
192.7
184.8
196.9
185.3
199.9
186.6
196.1
184.3
197.2
181.8
192.6
178.3
187.7
175.5
185.9
193.8
$0. 581
.631
$0. 577
.628
$0. 576
.623
$0. 569
.616
$0. 566 £0. 563
.614
.611
$0. 559
.608
$0. 561
.604
$0. 560
.601
$0.557
.600
$0. 557
.598
$0.557
.597
$0. 552
.595
correspondine note on p. S-8.
9 Includes data for items not shown separately.
^Beginning June 1974 SURVEY, data are restated to reflect changes in pricing by BLS.
Because of delay in obtaining data the prices lag the current index as follows: industrial chemicals and electric power, one month (i.e., July index reflects June prices); gas fuels, except
LPG. two months (July index reflects May prices); refined petroleum products (gasoline,
distillates, residual), one month (July index reflects June prices). The restated indexes are
209-299 O - 76 - S2
0.8
200.1
178.4
142.8
17fi fi
ICO
A
-icon
I CQ I
1 CQ n
143.1
142.9
142.9
m
m
IRQ 7
17ft 7
175.8
o
177.4o
m
m
o
A
177 A
1 79 Q
181 R
194.9
m
e
$0.550
.591
comparable with those for earlier periods.
§ Effective with Jan. 1976 reporting, the textile
products group has been extensively reclassified; no comparable data for earlier periods are
available for the newl> introduced indexes.
{Beginning i n the April 1976 SURVEY, data reflect new seasonal factors. All seasonally adjusted series have been revised back to January
1967.
SURVEY OF CURRENT BUSINESS
S-10
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown
In the 1973 edition of BUSINESS STATISTICS
1974
1975
1975
Annual
June 1976
Apr.
May
June
July
Aug.
Sept.
1976
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
135, 481
130,759
9,717
10,658
11,470
11,648
12,338
12,754
12,282
11,873
10,951
9,353 ' 8, 924
10,035
11, 002
do
do
do
97, 079
47, 044
37, 312
90, 032
43, 045
r
31, 279
6,815
3,017
2,073
7,303
3,390
2,318
7,677
3,781
2,658
8,053
4,119
2,914
8,347
4,332
3,075
8,525
4,315
3,139
8,506
4,251
3,196
8,346
4,161
3,203
7,899
3,883
3,007
6,879 ' 6, 583 ••7,368
3,328 r 3, 069 r' 3, 557
2,603 ' 2, 414 2, 782
8,036
4,165
3,165
29, 644
7,90?
15,945
26, 244
7 847
12, 810
2,134
624
1,040
2,182
685
1,046
2,150
671
1,022
2,164
668
1,034
2,259
659
1,119
2,334
684
1,136
2,322
675
1,145
2,225
650
1,080
2,134
679
997
1,848
563
854
2,000
571
977
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
4,279
3 689
326
313
305
321
299
306
331
292
327
38, 402
40, 727
2,902
3,355
3,793
3,595
3,991
4,229
3,776
3,527
3,052
do
do
do
do
do
14, 990
1,007
763
1,185
12, 083
15, 424
969
916
1,392
12, 620
1 207
72
74
102
830
1,273
81
87
102
1,075
1,363
92
82
102
1,199
1,297
87
68
111
1,272
1,431
73
68
123
1,403
1,382
86
62
145
1,530
1,280
71
62
131
1,377
1,274
71
91
142
1,082
1,183
64
87
132
794
1 062
40
76
122
474
991
r
42
79
121
'377
1,102
42
84
122
483
121 0
121 7
126 9
129 0
132.1
137.6
135.8
138.0
138.0
134 3
134.1
84.7
84.3
85 0
88.3
90.6
93.0
93.4
96.0
96.5
97.0
37.6
26.8
38.5
27.6
40 4
28 9
43 3
30 6
45.3
32.1
46.1
33.2
47.1
34.9
48.3
36.7
49.1
37.6
'49 0
37.5
25.9
7.5
12 S
25 6
8.2
12 1
24 8
7 7
11 8
25 0
7.7
12 0
25.8
7.6
12.5
26.2
7.9
12 .4
25.6
7.5
12.6
26.2
7.8
12.7
25.6
7.5
12.4
4.0
3.6
34
3.8
3.3
3.6
3.6
3.3
3.8
36.3
37 4
40 6
41.5
44.6
42.4
42.0
41.5
15.5
.8
.7
1.5
14.1
15.6
.8
1.1
1.7
12.5
do
Residential (including farm)
do
New housing units
do
Nonresidential buildings, except farm and public utilities, total 9
bil $
Industrinl
do
Commercial
do
Public utilities:
Telephone and telegraph
do
Public, total 9
do
Buildings (excluding military) 9
Housing and redevelopment
Industrial
Military facilities .
Highways and streets
CONSTRUCTION
1,974 ' 2, 069
573
'586
937 ' 1, 007
do
New construction (seasonally adjusted at annual
rates) total
bil $
Private, total 9
r
mil. $
do
... do
do
do
_ .do
41 9
14 9
.9
.8
1.5
11.0
13.9
1.0
9
1.2
12.2
15 8
10
9
1*1
12 5
16.0
1.0
.9
1.3
12.5
16.1
.9
.9
1.4
13.2
15.8
1.0
.8
1.7
14.2
220
r
316
236
2,474 ' 2, 341
r
r
2, 667
2,966
139.5
138.3
99.3 ' 101. 8
99.8
'49.5
38.2
'SI. 8
MO. 4
52.4
41.0
25.1
'7.5
11 8
27.7
8.2
13 2
'26.9
r
7.6
' 13.3
24.3
6.9
12.0
3.5
3.5
3.8
37.3
34.8
'37.7
38.4
14.7
.7
1.0
1.6
11.8
14.0
.6
.9
1.5
9.7
13.2
.7
1.1
1.7
8.1
'14.3
.6
1.0
1.5
'9.2
13.1
.6
.9
1.7
10.8
2
CONTRACTS
Construction contracts in 50 States (F. W. Dodge
Division, McGraw-Hill):
Valuation, total
mil. $
Index (mo data seas adj )
1967—100
Public ownership
Private ownership
By type of building:
NonresidentialUResidential
Non-building construct ionlf
New construction planning
(Kngineering News-Record) O
94 370
i 170
90,237
1
166
9,598
186
9,143
202
9 324
9 044
165
10 037
901
90S
7,692
157
7,767
166
5,573
148
5,431
137
6,390
183
6,149
170
8,908
185
9,408
189
mil $
do
32 497
61 873
31,415
58, 822
2,768
6,830
2, 875
6,268
3 891
5 432
3 784
5 260
3 040
6 997
2,725
4,967
2,544
5,223
1,597
3,976
1,724
3,708
1,655
4,734
1,719
4,430
2,192
6,716
2,383
7,025
do
do
do
33 051
34 404
26 914
30, 577
31, 347
28 313
2,987
3,029
3 582
2,877
3,073
3 193
3 169
3 116
3 fU.fi
3 165
3 093
2 707
2 666
o 784
4 CQ7
2,526
2,966
2,200
2,629
3,189
1 949
1,859
2,404
1 309
1,865
2, 233
1 334
1,939
2,157
2 294
1,996
2,546
1 608
2,561
3,618
2,729
2,741
4,003
2,664
do
Q7 109
83 795
6 298
7 609
A C*\fi
7 IRA
5
AK.fi
6 511
5 865
9 909
6 052
6 648
9 791
5,088
6,893
1 352.5
932 2
1 337.7
888.1
1, 171. 4
766.8
1, 160. 4
892.2
98.4
66.1
97.9
77.8
117.0
73.2
116.1
92.8
110 9
73 0
110 3
90.3
120 1
76 3
119 3
92.8
118 7
75 1
117 3
90.7
112.8
73.8
111.9
84.5
125.0
78.2
123.6
93.8
97.2
64.7
96.9
71.6
77.1
56.6
76.1
55.6
72.9
52.5
72.5
54.0
91.6 '118.8 ' 138. 7 * 147. 3
96.6
62.3 '83.9 '95.4
147.0
89.9 ' 118.4 ' 138. 4
111.4
'
108.
5
'92.4
72.6
982
774
1,085
853
1 080
'874
1,207
916
1 264
979
1,304
966
1,431
1,093
1,381
1,048
1,283
962
1,236
957
1,547 '1,417 ' 1, 381 P 1,415
1,057
1,295 ' 1, 110 '1,063
924
667
837
603
912
658
949
679
1 042
711
995
732
1,095
779
1,079
769
1,085
787
1,028
766
1,120
828
1,134
850
1,134
827
' 1, 095
'813
212 7
IRQ
20 0
209
9ft ft
1Q 7
190
201
213
20 7
225
20 1
228
20 8
235
16 5
230
13 8
224
15 3
263
18 9
287
21 6
244
23.6
237
193.5
'194.2
194.7
HOUSING STARTS AND PERMITS t
New housing units started:
Unadjusted:
Total (private and public)
Inside SMSA's
Privately owned
One-family structures
.
_
Seasonally adjusted at annual rates:
Total privately owned
One-family structures
. thous
do
do
do
do
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 (Manufactured Housing Institute) :
Seasonally adjusted at annual rates
1 074
644
OOQ 0
r
do
1,158
821
CONSTRUCTION COST INDEXES
Dept of Commerce composite
1987 — 100
173 2
189 7
187 8
189.1
190 1
189 7
188 5
190.3
190.6
191.1
192.6
193.6
American Appraisal Co., The:
Average 30 cities
Atlanta
New York
San Francisco
St. Louis
1913—100
do
do
do
do
1 608
1 821
1 711
1*552
1*536
1 716
1,871
1 827
l'698
1 659
1 673
1 861
1 793
1 657
1 601
1 700
1*872
1 800
1 693
1 674
1 710
1 869
1 798
1 690
1 677
1 733
1*881
1 815
1 734
1 700
1 743
1 902
1 873
1 743
1*701
1 763
1,905
1,872
1,736
1,700
1,762
1,902
1,871
1,734
1,699
1,767
1,908
1,873
1,736
1,702
1,778
1,918
1,886
1,793
1,710
1 801
1,949
1,892
1,804
1,725
Boeckh indexes:
Average, 20 cities:
Apartments hotels office buildings
Commercial and factory buildings
Residences..
1967—-100
do
do
184 5
185 0
168 4
187.8
171.1
188.8
182.4
172.0
183.5
r
Revised.
P Preliminary.
i Computed from cumulative valuation total. 2 Beginning with January 1976, State and local construction are estimated from a new survey; data
are not strictly comparable with those for earlier periods.
t Data for new construction have been revised back to 1958: those for housing starts and
permits, back
to 1959. The revised data are available from the Bureau of the Census, Washington, D.C. I"1™"4
194.4
188.2
190.6
191.7
186 0
200.5
192.0
196.0
194.6
190. 1
191.8
186.5
189.0
190.3
184.3
HData for Aug. 1973 for nonresidential building and nonbuilding construction appearing in
the Oct. 1974 SURVEY were transposed; they should have read (mil. $): Nonresidential,
building,' 3,167; non-building construction, r 2,453.
OData for May, July, and Oct. 1975, and Jan. and Apr. 1976 are for 5 weeks; other
months, 4 weeks.
9 Includes data for items not shown separately.
S-ll
SURVEY OF CURRENT BUSINESS
June 1976
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown
In the 1973 edition of BUSINESS STATISTICS
1974
Annual
1976
1975
1975
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
200.5
213.4
201.6
214.2
202.9
215.0
Mar.
Apr.
204.0
215.7
205.6 rl 207. 4
216.7 rl 219. 2
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
r
178.3
188.0
193.3
205.7
201.8
203.8
177 5
158 3
161 1
157 4
166 5
152 6
168 5
156 6
168 4
174 3
174 5
159 1
177 6
173 1
181 8
164 3
144 1
151 7
141 1
162 6
148 1
156 8
181 8
171.6
215 3
140 9
166 9
182 9
147 0
172 3
172 1
135 4
175 7
204 0
138 9
170 3
213 8
135 5
172 7
232 3
146 0
179 2
234 3
157 1
186 6
232 7
151 9
197 9
248 8
122 1
157 7
169 5
123 3
162.3
136 3
123 8
180.1
106 2
125 7
87 1
82.3
161 1
157 7
78
88
19 7
134
12 6
133
18 5
206
7.7
84
11 1
125
6 0
68
6 4
71
14 5
171
8.3
93
156
56
67
13 7
156
185
61
87
13 8
186
5.2
71
11 4
175
4.4
68
12 7
191
6.0
84
13 6
185
7.2
74
15 7
165
8.4
94
18 3
193
539 14
607 94
483 49
680 97
534 43
986 02
597 49
674 34
511 79
848 30
516 06
841 58
564 15
860 56
496 54
886 21
452 16
864 31
456 01
792 50
384 89
641 82
515 71
837 38
411 67
675 98
17 527
17 145
16 803
16 685
16 945
17 482
17, 578
17 606
17 845
17, 106
16, 380
15, 757
15,236
4,173
5 370
5 971
5 498
5,731
5 588
5 694
4 370
5,254
3,941
4,161 r 5 816
*6,540
799
2 314
1 060
1 012
3 089
1 269
qoq
980
3 500
1 951
one:
3 351
1 242
1 052
3 400
1 242
009
3 6^6
1 346
1 055
3' 118
1 325
? 584
964
941
3 012
1 301
724
2 314
903
811 r 1 15Q
2 425 r 3 375
925 r 1 9g5
1 344
3 875
1 321
12 833
12 291
12 476
12 019
11 181
11 326
12 210
10 414
11 057
335
312
265
275
285
276
276
266
335
338
320
335
301
144
157
166
113
140
151
163
172
119
153
153
167
175
147
155
165
169
123
166
164
175
175
135
175
171
191
191
131
171
118 7
66
61
21
11 4
6 2
73
55
31
136 1
55
11 3
2 0
12 2
94
152 0
51
14 0
19
12 8
12 8
120 4
33
9 4
14
10 9
9 6
93 0
2 7
7 6
6
10 7
49
109 4
32
10 0
17
12 8
74
130 4
51
13 7
2 2
12 6
97
144 6
6 5
14 2
36
13 6
10 5
10 4
63
31
2 4
12 1
13 5
72
29
25
12 3
66 8
17 7
33
39
29
24
15
11 9
43 9
55
4 2
2 4
17
13 1
47 4
81
59
31
16
14 4
54 1
82
84
4 0
2 3
14 5
58 8
4
63
11
43
224
383 0
9 3
99 1
9 4
54 3
211 0
409 6
98
104 3
14 1
60 7
220 7
427 3
10 9
105 4
13 8
63 0
234 3
187.8
198.8
190.5
201.4
193.5
204.9
195.0
208.8
196.9
211.3
197.2
211.4
200.0
213.0
199.8
212.9
209.8
203.9
199.3
200.3
CONSTRUCTION MATERIALS
Output index:
Composite, unadjusted 9-Seasonally adjusted
1947-49=100do
Iron and steel products, unadjusted
Lumber and wood products, unadj
Portland cement, unadjusted
do
do. __
do
122.5
REAL ESTATE H
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 byFed. Hous. Adm.: Face amount
mil. $. 3 933 70 6 166 12
Vet. Adm.: Faceamount§
d o _ _ _ 7 909 60 8 863 84
Federal Home Loan Banks, outstanding advances
to member institutions, end of period
mil. $_. 21,804
17, 845
New mortgage loans of all savings and loan associations, estimated total
mil. $.- 38, 959
55, 040
By purpose of loan:
Home construction...
do
7 566
10 097
Plome purchase
do . 23' 560
32 106
All other purposes..
,_do
7 833
12 837
Foreclosures
number 140 469 142 803
Fire losses (on bldgs., contents, etc.)
mil. $__
3,190
3,560
14. R
Ifi
C
DOMESTIC TRADE
ADVERTISING
McCann-Eriekson national advertising index,
seasonally adjusted:
Combined index &
1967=100
Network TV
do
Spot TV.
do
Magazines
do
Newspapers
_.
do
Magazine advertising (general and natl. farm magazines):
Cost, total
niil $
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
Newspaper advertising expenditures (64 cities): 0
Total
mil $
Automotive
do
Classified..
_
do
Financial
do
General
...
do
Retail
d0
141
150
153
121
141
147
162
164
118
143
141
157
15°
117
134
146
175
154
109
142
1 372 3 1 336 3
50 8
47 0
104 7
101 5
24 7
20 7
143 2
140 6
92 0
91 1
119 3
52
87
2 3
12 5
7*8
121 0
37
9 7
25
12 4
74
76
62
29
16
11 9
52 7
84
68
35
12
12 1
3 844 6 4 100 1 r 34(5 1
r 7 4
108 8
93 8
967 0
978 6 r 81 8
134 8
131 0 r 12 fi
513 7
544 3 r 48 9
2,120 4 2 352 5 r 195 4
103 4
79 6
35 4
17 6
136 7
585 1
100 9
55 1
34 2
19 4
144 2
580 7
143
165
155
109
140
148
166
163
I OC
IOC
147
161
169
1 91
iqc
193
a.
oq n
18
98
21
13 1
6 4
2 2
7 2
14
10 8
67
57
31
eq 9
9 0
4 3
2 9
11
12 8
42 4
1 2
11 5
01 i
19 1
qq q
13 2
55 1
fi1 9
qe^ q
oc-i f\
904. ft
qoo o
qq^l A
q7O o
9
84
9
50
OQO
9
88
12
49
202
0
6
0
3
1
6 2
80 5
10 8
32 8
164 6
5
9
33 4
193 1
86
83 1
12 0
45 6
184 8
917 fi
403 4
90
83 7
10 2
54 6
245 9
4
6
4
7
2
1f\Z
2
0
CO
f>
0 Q
53
g
12 0
51
4 2
27
2 &
12
Q
91 2
fi q
9 9
Q
85 7
1q r
53 1
2 9
12
12 9
48 0
347 ft
6
4
0
3
7
348
8
87
13
49
188
3
9
6
6
7
4
WHOLESALE TRADEf
Merchant wholesalers sales (unadj.) total mil $
Durable goods establishments
" do
Nondurable goods establishments
do
448 127
202 341
245 786
439 000
185 922
253 078
36 13^
15 828
°0 304
36 407
15*731
20*676
36 3^8
15 733
20 655
36 916
15 721
21 195
36 614
15 315
21 299
37 855
16 340
21 515
39 569
16*704
22 865
35 827
14 835
20 999
37 831
15 511
22 320
35 990
15 129
20 861
35 860 r 41 512
15 225 r 17 901
20 635 r 23 611
40 087
17 707
22 380
Merchant wholesalers inventories, book value,
end of year or month (unadj.), total., mil $
Durable goods establishments
do
Nondurable goods establishments do
46 695
27 529
19. 166
45 497
27 430
18.067
45 581
°8 315
44 576
27 958
16 618
44 513
27 894
ifi fiiq
44 513
27 710
1 fi 803
44 678
07 355
44 764
27 136
45 612
27 228
45 865
27 29Q
45 497
27 430
18 Ofi7
45 945
27 664
46 604 r 4fi 857
28 134 r 28 505
18*470 r 18.352
46 788
28 727
18.061
17 9fifi
ooo ? e v ™ P Preliminary.
1 Index as of Juno 1, 1976: Building, 209.0; construction,
H ' t cfBegmmnR Jan. 1973 data reflect new reference base, 1967 = 100.
9 Includes
data for items not shown separately.
§Data include guaranteed direct loans sold.
II Home mortgage rates (conventional 1st mortgages) are under money and interest rates
on p. o—18.
17 313
17 fi98
1 8 384
1 8 Sfifi
18.281
©Source: Media Records, Inc. 64-City Newspaper Advertising Trend Chart.
tSeries revised back to Jan. 1964 to reflect kind of business classifications of establishments
selected for a new sample in terms of the 1967 Census of Business; revisions for earlier periods
appear on p. 44 ff. of the December 1974 issue of the SURVEY.
SURVEY OF CURRENT BUSINESS
S-12
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown
In the 1973 edition oi BUSINESS STATISTICS
1974
1975
1976
1975
Apr.
Annual
June 1976
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Mar.
Feb.
Apr.
May
DOMESTIC TRADE—Continued
RETAIL TRADED
All retail stores: H
Estimated sales (unadj ) totally
mil $
537, 782
584, 423
45 896
51 204
49 052
50 026
50 663
48 275
CO OAK
50 526
60681
46 767
45 243 '51,752 '54,221 154,249
do
do
do
do
167,313
93, 089
84 773
8,316
180, 725
102, 105
93, 046
9,059
14 588
8, 422
7 663
15, 987
9,180
8 347
16, 126
9,342
8 499
833
843
16 374
9 611
8 783
15 453
8 *539
7 785
'754
16 919
9 734
8' Q^lfi
15 248
8*422
7 647
'775
16 855
8,412
7 568
14 213
8 299
7 619
828
15 575
8 812
8 023
*789
14,764 '•17,758 '18,487 1 18, 437
8,954 r'10,932 '11,191 111,033
8,311 10,T 135 10, 333
858
643
797
Furniture, home furn., and equip. 9
Furniture homefurnishings stores
Household appliance, TV, radio
do
do
do
25, 544
15, 364
8,006
26, 123
15, 283
8,420
2,010
1 207
2,124
1 260
2,144
1,269
2,167
1 283
2,177
1 281
2,184
1 247
2,308
721
2,925
1 534
1 042
2,138
1 228
730
2,389
1 419
747
693
2,064
1,226
654
r 2, 304
^ 1, 366
'728
Building materials and hardware
Lumber bldg materials dealerscf
Hardware stores
do
do
do
23, 491
18, 328
5,163
23 974
18 202
5 772
1 879
1,418
523
1 710
1 3°3
488
494
2 090
1 597
r
544
2 317
l" 802
1,773
1,367
571
2 203
1 709
2 073
1 477
461
2 189
1 701
do
do
do
do
do
370, 469
24, 864
5,668
9,551
3,979
403, 698
26, 749
6 085
10, 396
4 123
31,308
1,949
436
749
311
35,217
2,232
516
869
354
32, 926
2,072
502
33 652
1,970
440
35 088
2,279
475
32 822
2,191
450
do
do
do
do
do _..
16, 785
41, 840
119, 763
111 347
39, 910
18, 098
47, 514
131 723
122 666
43, 895
1,407
3,773
10 178
9 45?
3,468
1,529
4,183
11 687
10 893
3,715
1,494
4,207
10, 789
10 009
3,750
1,473
4,228
11 433
10 647
4 067
General merchandise group with nonstores 9
mil. $
General merchandise group without nonstores 9 §
mil. $
Department stores .
do
Mail order houses (dept. store mdse).do
Variety stores
. do.
Liquor stores
,do
89, 286
95, 402
7,059
8,047
7,502
82 535
55, 871
5,839
8,714
10 285
88, 544
60, 719
5,995
9,120
10, 974
6 503
4 449
7 488
5 170
Durable goods stores 9
Automotive dealers -Passenger car other auto dealers
Tire battery accessory dealers
Nondurable goods stores 9
Apparel and accessory stores
Men's and boys' wear stores
Women's apparel, accessory stores
Shoe stores
Drug and proprietary stores
Eating and drinking places
Food stores
Grocery stores
Gasoline service stations
_
759
620
679
2 199
1 628
697
2,212
1,668
797
323
458
660
806
435
798
945
6,973
4,827
407
713
909
-do
46, 813
48, 173
48, 578
Durable goods stores 9 A
Automotive dealers A
Passenger car other auto dealers A
do
do
do
14, 165
7,901
7,164
14, 703
8,263
7,508
737
Furniture, home furn., and equip. 9
Furniture homefurnishings stores
Household appliance, TV, radio
do
do
do
2,132
1,244
Building materials and hardware
Lumber, bldg materials dealers d"
Hardware stores
do
do
do
1,883
1,415
Apparpl and accessory stores
Men's and boys' wear stores
Women's apparel, accessory stores
Shoe stores
do
do
do
do
Drug and proprietary stores
Eating and drinking places
Food stores
Grocery stores, _
Gasoline service stations
do_.
do _ _ .
do
do_
do_
Estimated sales (seas, adj.), total A H
686
Estimated inventories, end of year or month: t
Book value (unadjusted), total t
mil. $__
Durable goods stores 9
do
Automotive dealers
do
Furniture, home furn., and equip
do
Building materials and hardware
do
2 244
1 721
783
303
707
899
374
872
382
406
2, 137
t 1, 668
'2,312
1,400
705
2,386
1,837
549
515
493
596
35 127
2,300
491
35 278
2,409
549
942
362
942
361
43,826
3,894
969
1,435
485
32 554
1,976
461
30,479 '33,994 '35,734 135,812
1,768 ' 2, 050 ' 2, 349 i 2, 159
492
378
' 438
715
924
' 810
272
400
'329
1,470
4,050
11 008
10 265
3 649
2,114
4,110
11 778
10 925
3,817
1,481
3,889
11 723
3 654
1,462 '1,571 '1,560 11,553
3,723 ' 4, 083 '4,212 i 4, 452
10,507 r\\ 176 '11,401 111,434
9 775 ' 10 384 '10 589 ilO 653
3,475 ' 3 779 ' 3, 855 i 4, 003
387
767
303
469
7 288
7 983
7 709
8 226
9 432
14,005
6 247
6 213
' 7 696 ' 8, 253
6 759
4 611
7 427
5 066
7 099
4 904
7 531
5? 104
635
8 778
6 032
5 748
3 918
5 718
3 840
' 7 074 ' 7 675 17 460
r 4' 776 r 5 353 15 267
519
'579
1 ft UR^i
737
930
690
830
936
49,549
50,165
50, 293
51,990
51 592
52,601 '53,344 '53,300 152,644
15,440
8,699
7,936
763
15,775
9,025
8,274
751
15, 763
8,760
8,007
753
9,922
9,140
782
16,730
9,605
8 778
827
1
17,397 '17,403 '17,874 17, 344
10,346 '10,162 '10,564 110,150
9,748
9,509 '9,307
r 855
816
837
2,214
1,280
2,241
1,318
735
720
2,349
1,388
747
2,337
1,367
757
2,273
1 326
713
2,332
1,385
736
' 2, 388
'1,392
'792
' 2, 386
1,410
688
2,202
1,277
711
1,993
1,515
1,977
1,505
2,291
1,746
' 2, 364
' 1,815
2,367
1,817
550
443
665
968
49,925
755
8,447
7,654
793
15,432
8,850
8,082
768
15,506
8,871
8,120
751
2,139
1,216
2,168
1, 245
2,171
1,280
366
555
84.1
432
563
786
r (j7Q
T 84g
671
892
478
472
2,064
1,574
490
2,089
1,599
490
2,209
1,714
495
2,059
1,558
501
2 255
1,748
517
863
346
34,223
2,236
511
876
344
34,419
2,336
523
948
353
34,109
2,251
501
879
353
34,390
2,243
491
894
349
34,530
2,271
504
886
355
35,113
2,354
535
883
358
34 862
2,311
505
906
354
35,204 '35 941 '35,426 135,300
2,369 ' 2,377 ' 2, 206 i 2,228
507
491
' 529
935
908
'915
r 375
374
329
1,499
3,935
10,875
10, 105
3,565
1,532
3, 984
11,023
10, 255
3,616
1,525
3,933
11,282
10,531
3, 790
1,526
3,901
11,167
10,429
3,832
1, 525
3,940
10,969
10,217
3,803
1,519
4,078
11,264
10,501
3,738
1,562
4,184
11, 219
10, 432
3,690
1,578
4,220
11,270
10,485
3,859
1,522
4,213
11,433
10,642
3,867
1,572 ' 1, 643 '1,574 11,564
4,174 ' 4, 321 ' 4, 298 i 4, 248
11,424 r ll 567 11,314 111,296
10,^25 ' 10, 749 '10,515 110,516
3,861 '3 892 ' 3, 890 i 3, 875
7,638
7,981
7,994
7,903
8,091
8,102
7,958
8,296
8,499
8,022
8 401
' 8 606 ' 8, 298 i 8, 243
7,068
4,825
476
746
884
7,429
5,094
482
788
919
7,421
5,081
7,321
5, 017
510
728
927
7,505
5,162
534
773
936
7,359
5,029
522
751
929
7,725
5,348
490
766
929
7,912
5,424
496
774
941
7,523
5,201
509
799
929
7 443
5,075
7 849
5 408
' 7 996 '7,722
r 5 471 '5,374
1,999
1, 515
32,648
2,179
506
819
337
33, 470
2,216
33, 613
2,223
1,455
3,898
10,598
9,846
3,532
506
854
356
484
556
770
916
507
524
753
899
545
533
764
918
549
r 568
' 785
' 939
526
662
947
72,847
33 852
17 033
4 686
4 731
72,050
33 604
16 814
4,658
4 769
71,669
33 419
16 562
4 662
4 755
71,268
32 725
16 096
4,640
4 642
70, 295
31 243
14 738
4 658
4 673
72,327
31, 984
15, 321
4,725
4,650
75, 854
32, 629
15, 678
4,877
4,677
76, 620
33, 208
16, 056
4,911
4,680
71,127
32, 725
16, 246
4,755
4,600
71, 256
32, 967
16, 413
4,660
4 728
73, 350
33 762
16 987
4 619
4 842
75, 914
35 017
17 664
4 753
5 044
76, 996
35, 548
17, 864
4,868
5 111
38, 309
5,280
8,130
38, 402
5,293
8,247
38 995
5 515
7 883
38 446
5,488
7 865
38 250
5 353
7 865
38, 543
5,377
7 889
39 052
5,508
7 896
40,343
5,820
8,074
43, 225
6,127
8,346
43, 412
6,099
8,434
38, 402
5,293
8,247
38, 289
5,237
8 072
39 588
5 513
8 154
40 897
5 798
8 219
41,448
5,861
8 334
15, 540
9,246
15, 006
9,128
16 169
9,631
15, 870
9,540
15 765
9 373
15, 954
9,478
16 310
9,772
16,978
10,267
18, 895
11, 574
18, 732
11, 662
15,006
9,128
15 239
9,232
16 072
9*712
17 082
10 440
17 707
10, 941
74, 082
34, 649
17, 794
5,238
4,581
73 081
33, 592
16 748
4,798
4,762
71 483
32, 375
15,817
4,667
4,562
70,826
32, 086
15, 605
4, 630
4,590
70 840
31, 909
15, 294
4,657
4,635
71,503
32, 270
15, 540
4,677
4,624
72,578
33, 324
16, 729
4,686
4,706
73,049
33, 471
16,671
4,701
4,745
74, 642
33, 813
17, 004
4,749
4,787
73, 839
33, 712
16, 795
4,718
4,830
73, 081
33, 592
16, 748
4, 798
4,762
73 610
33,510
16 596
4,789
4,820
74 344
33,' 490
16 492
4 742
4 823
75 089
33, 920
16 617
4 801
4 931
75 652
33, 994
16 587
4,849
4,929
39, 433
5,517
8,010
39, 489
5,537
8 125
39, 108
5,537
7 883
38, 740
5,583
7 881
38, 931
5,547
7 873
39, 233
5,538
7,977
39, 254
5,432
8 024
39,578
5,517
8 189
40, 829
5,668
8 190
40, 127
5,534
8 079
39 489
5 537
8 195
40, 100
5,674
8 195
40 854
5 749
8 303
41 169
5 827
8 235
41 658
5 885
8 334
16, 049 16, 251 15, 997 16, 055
9,630
9,595
9,597
9,742
Revised, i Advance estimate.
UData may be understated because of deficiencies in
the probability sample being used for current estimates (the 1972 Census of Retail Trade
indicates that total retail sales for 1972 were 4.8 percent higher than the estimates made from
the sample). A comprehensive revision of the survey (including the selection of a new and
improved sample) is now underway; revised data will be introduced upon its completion.
9 Includes data not shown separately.
d* Comprises lumber yards, building materials
16, 156
9,696
16, 289
9,841
16,392
9,958
17, 345
10, 541
16, 767
10, 257
16 049
9.742
16 500
10. 013
16 943
10. 332
17 299
10, 556
17 757
10. 930
do
do
do
do
do.. -
Nondurable goods stores 9 ... .
do._
Apparel and accessory stores
do
Food stores
do
General merchandise group with nonstores
..
mil. $
Department stores
do
r
16, 621
9,868
i 2, 380
755
71, 127
32, 725
16, 246
4,755
4,600
Book value (seas, adj.), total t
Durable goods stores 9
Automotive dealers .
Furniture, home furn.. and equip
Building materials and hardware
i 8, 003
13353
9,437
722
1,456
1 268
72, 056
33, 747
17, 255
5,186
4,425
Nondurable goods stores 9
do
Apparel and accessory stores
do
Food stores
do
General merchandise group with nonstores
..
mil. $
Department stores
__.
do_
12,311
1,505
4,208
11 432
10 648
3 817
49,655
723
680
1,450
3,983
10 712
9 962
3 757
520
700
876
716
1 37Q
844
1,515
4,373
11 754
10 971
4 100
496
789
953
2,006
1,517
489
468
General merchandise
group with nonstores 9
mil. $
General merchandise group without nonstores 9 § ,
mil. $
Department stores ..
. do_
Mail order houses (dept. store mdse ) do
Variety stores
do
Liquor stores
_ _
do
7C8
7QQ
i 7, 681
15,397
dealers, and paint, plumbing, and electrical stores.
§ Except department stores mail order.
J Series revised beginning Jan. 1971 to reflect benchmark data from the 1972, 1973, and 1974
Annual Retail Trade Reports and new seas, factors; revisions for Jan. 1971-July 1974 appear
on p. 26 ff. of the Nov. 1975 SURVEY.
A Revisions for Jan.-July 1974 appear on p. 26 ff. of
the Nov. 1975 SURVEY.
SURVEY OF CURRENT BUSINESS
June 1976
1976
1975
1975
1974
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown
in the 1973 edition of BUSINESS STATISTICS
S-13
Annual
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
15,389
16, 147
••498
r
188
133
'639
598
222
165
630
May
DOMESTIC TRADE—Continued
RETAIL TRADE— Continued
Firms with 11 or more stores:
Estimated sales (unadj.), total 9
Apparel and accessory stores 9
Women's apparel accessory stores
Shoe stores
Drug and proprietary stores
mil. $
183 076
13 917
15 860
14 687
14729
15 710
14744
15,870
16,606
21 871
14, 124
13,349
6 428
2 390
1 737
6,451
6 834
2 598
1 806
7,103
502
185
138
531
573
221
150
590
534
201
140
592
468
188
115
570
606
239
166
604
580
223
165
571
582
224
155
594
617
232
157
593
1 014
378
234
937
444
166
117
575
401
153
107
578
70 597
75 629
5, 574
6 372
5,948
5 745
6,349
6 119
6,522
7,536
11 299
4,868
4,876
f
6, 122
6,561
67, 289
49 802
6,988
72, 339
54 159
7,355
5,305
3,983
532
6,094
4 607
646
5,688
4,321
576
5,505
4 140
528
6,092
4,543
636
5,827
4 373
566
6,175
4, 547
7,212
5,365
11,010
8 353
1 196
4,650
3,489
437
4,636
3,425
453
r
r
5, 796
4,r 270
549
6,285
4, 779
68 432
2,251
5,268
198
6 079
5,504
142
r
5, 877
6,016
182
210
16079 r 16,420
15, 907
do
do
do
do
General meichandlse group with nonstoros 9
mil $
General merchandise group without nonstores^
mil. $
T)ept. stores, excl mail order sales
do
Variety stores
do
62 614
2,168
5 977
200
15 325
15,388
15,625
15 530
15 374
15,810
16 007
15, 663
574
216
153
574
575
214
152
607
555
224
137
594
614
244
159
607
580
226
145
608
560
215
153
601
569
215
153
630
606
219
165
631
576
221
145
622
586
292
149
654
'581
'209
'691
524
207
130
638
6,012
6,325
6,352
6,225
6,474
6,452
6,316
6,595
6,724
6,359
6,677
«• 6, 844
6,591
5,730
4,297
598
6,055
4 539
640
6, 075
4 534
6,208
4 636
652
6 165
4 603
6,040
4 493
605
6,317
4 773
625
5,952
4 476
580
617
6,439
4 831
625
6,084
4 525
608
6,420
4 817
626
r 6, 534
r 4, 886
'647
6,322
4,789
530
5,510
186
5,577
194
5,708
197
5,889
178
5,775
184
5 784
5,764
183
5,882
186
5,828
193
5,871
189
5,957
187
'6,009
193
5,904
191
14, 624
15 149
do
do
do
do
545
203
152
558
All retail stores, accts. receivable, end of yr. or mo.:
Total (unadjusted)
mil $
Durable goods stores
do
Nondurable goods stores
do
Charge accounts
Installment accounts
Total (seasonally adjusted)
Durable goods stores
Nondurable goods stores
Charge accounts
Installment accounts
153
5,454
180
do
do
do
202
538
195
Estimated sales (seas adj ) total 9
Grocery stores
Tire battery accessory dealers
6 108
6,212
195
do
do
General merchandise
group with nonstores 9
mil. $
General merchandise group without nonstores §
mil $
Dept stores excl mail order s^lcs
do
Variety stores
do
596
682
5,788
185
Grocery stores
Tire, battery, accessory dealers
Apparel and accessory stores 9
Women's apparel accessory stores
Shoe stores
Drug and proprietary stores
r
169 434
210
5 457
215
5 812
6 023
625
191
158
28 916
8 578
20 338
29 625
8,901
20 724
26961
8,306
18 655
27 663
8, 652
19 Oil
27 341
8 781
18 560
26, 988
8,795
18 193
27,089
8,830
18 259
27376
8,979
18397
27563
9,015
18 548
27, 726
8,781
18 945
29 625
8 901
20 724
28 221 r 27 802
8 433 T 8, 564
19 788 r 19 238
27,810
8,720
19, 090
do
do
10 806
18 110
11, 428
18 197
10 550
16411
11,221
16 442
11 049
16 292
10, 813
16 175
10,709
16380
10,940
16 436
11,196
16 367
11,069
16 657
11 428
18 197
10,990 T 10,891
17 231 r 16 911
11,228
16, 582
do
do
do
27 035
8 434
18 601
27 764
8 799
18 965
27 303
8*515
18 788
27 606
8 610
18 996
27 402
8 593
18 809
27 609
8 719
18 890
27 525
8*632
18 893
27 612
8 726
18 886
27 617
8 767
18 850
27 460
8 756
18 704
27 764
8 799
18 965
97 395 r 28 173 28, 433
8*749 ' 8 995 9,079
19 146 r 19 178 19, 354
do
do
10 374
16 661
11 028
16 736
10 659
16*644
10 902
16 704
10 786
16 616
10 938
16 671
10 794
16*731
10910
16 702
11 016
16 601
10 942
16 518
11 028
16 736
11 330
16565
r
r
11 399
16 774
11, 648
16, 785
LABOR FORCE, EMPLOYMENT, AND EARNINGS
POPULATION OF THE UNITED STATES
Total, incl. armed forces overseas!
mil
1
211.89
1
213 63
213 14
213 26
213 47
213 63
213. 81
213 98
214 14
214. 28
214. 40
214.53
214. 64
214. 74
214. 85
214. 96
94, 793
92 613
84 783
3 380
81, 403
7,830
93, 564
91 369
83 549
3,171
80, 377
7,820
93, 949
91 768
84 146
3 622
80 524
7 623
96, 191
94 013
85 444
3 869
81* 575
8 569
97, 046
94 859
86 650
4 090
82, 560
8,209
96, 493
94 308
86 612
3,886
82, 726
7,696
94, 965
92 795
85 274
3 626
81, 647
7,522
95, 431
93 267
86 023
3,524
82, 499
7,244
94, 943
92 787
85 556
3 156
82 400
7 231
94, 888
92, 731
85,536
2,856
82, 680
7,195
94, 805
92, 665
84, 491
2,853
81, 638
8,174
94, 944
92, 798
84, 764
2, 802
81, 963
8,033
95, 260
93, 112
85, 588
2,897
82, 691
7,525
95, 618
93, 474
86, 584
3,273
83,311
6,890
95, 724
93, 582
87, 278
3,415
83, 863
6,304
92,254
84 313
3 301
81 012
92,769
84, 519
3 528
80, 991
92,569
84, 498
3,350
81, 148
93,063
84, 967
3 439
81 528
93,212
85, 288
3 464
81 824
93,128
85, 158
3 512
81 646
93,213
85, 151
3 408
81, 743
93,117
85, 178
3 301
81, 877
93,129
85, 394
3,236
82, 158
93, 484
86, 194
3,343
82, 851
93, 455
86, 319
3,170
83, 149
93, 719
86, 692
3,179
83, 513
94, 439
87, 399
3,417
83, 982
94, 557
87, 697
3,329
84, 368
7 941
2,278
8,250
2,529
8,071
2,751
8 096
2,954
7 924
2,878
7,970
2,934
8,062
2,719
7,939
3,004
7,735
3,080
7,290
2,785
7,136
2,515
7,027
2,294
7,040
2,035
6,860
1,998
8.9
8.7
8.7
8.5
8.6
8.6
8.5
8.3
7.6
7.5
7.0
8.2
20.7
7.1
8.0
20.5
6.8
7.9
20.7
5.7
7.5
19.2
5.6
7.3
19.1
LABOR F O R C E D
Not Seasonally Adjusted
Labor force, persons 16 years of age and over__thous__
Civilian labor force
do
Employed, total
do
Agriculture
.
do
Non agricultural industries. .
. do
Unemployed. __
do
Seasonally Adjusted cf
Civilian labor force.
do
Employed, total... .. .
do
Agriculture
do
Nonagricultural industries
do
Unemployed.
do
Long-term, 15 weeks and over
do
Rates (unemployed in each group as percent
of total in the group):
All civilian workers
Men, 20 years and over
Women, 20 years and over
Both sexes, 16-19 years
White.
Negro and other races
Married men, wife present .
...
Occupation: White-collar workers....
Blue-collar workers
Industry of last job (nonagricultural):
Private wage and salary workers
Construction ... _
Manufacturing.. . .
Durable goods
93, 240
91 Oil
85 936
3 492
82, 443
5,076
937
2,483
5.6
8.5
3.8
5.5
16.0
6.7
8.0
19.9
86
6.8
8.5
19 7
7.2
8.4
20.3
5.0
9.9
2.7
7 8
13.9
79
14 1
14.2
3.3
6.7
5.7
10.6
5.7
5.4
7.8
5.8
7.5
19.9
7.5
5.4
7.3
19.2
6.7
7.3
5.6
6.8
18.5
6.6
6.8
6.8
13.8
13.7
13.0
12.2
4.1
4.1
12.5
4.8
4.1
3.9
4.0
4.8
4.8
11.9
. 4.8
11.6
11.3
10.7
4.7
9.4
4.6
9.3
4.6
9.1
4.8
9.0
4.6
9.0
9.2
9.2
9.2
8.9
8.1
8.0
7.7
7.6
7.6
7.8
14.4
5.2
5.5
4.7
4.8
5.3
4.8
4.6
4.8
11.7
12.6
12.8
12.4
4.8
12.3
11.9
9 2
18 1
10 9
11.3
9 6
19 0
11 8
12 2
9 8
20 9
11.9
12.3
9.6
9.4
9.3
20.5
12.0
12.7
6.6
8.0
19.6
5.1
7.8
14.3
5.5
7.1
7.9
19.0
13.9
8.1
5.5
13.4
5.7
8.3
7.2
7.9
19.8
5.3
8.0
14.0
5.3
5.1
' Revised.
p Preliminary.
1 As of July 1.
9 Includes data not shown separately.
§ Except department stores mail order.
t Revisions back to 1970 appear in P-25, No. 545, "Population Estimates and Projections"
(May 1975), Bureau of the Census.
cfBeginning in the Feb. 1976 SURVEY, data (revised back to Jan. 1971) reflect new seasonal
7.2
7.8
19.4
8.0
14.3
7.8
7.6
7.1
13.2
14.1
15.3
16.0
15.5
15.4
16.6
17.5
18.1
19.7
18.7
20.4
7.6
7.6
7.3
8.0
8.1
9.6
10.8
10.5
10.6
11.5
11.1
7.4
7.7
7.4
8.0
8.2
9.9
10.8
11.5
12.0
11.1
12.1
factors and a modification of the procedures previously used to seasonally adjust a few of the
series (teenage unemployment and those few other unemployment series of which teenagers
are the exclusive or major part). Comparable monthly data back to 1967 appear in EMPLOYMENT AND EARNINGS (Feb. 1976), USDL, BLS.
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
1974
1976
1975
1975
Annual
June 1976
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.p
77,906
62,584
78,666 79,192
63,370 63,874
May
LABOR FORCE, EMPLOYMENT, AND EARNINGS—Continued
EMPLOYMENT J
Employees on payrolls of nonagricultural estab.:
Total, not adjusted for seasonal variation...thous..
Private sector (excl. government)
do
78, 413
64, 236
76, 985 76, 177 76, 689 77, 183 76, 439 76,900
62, 212 61, 269 61, 750 62, 387 62, 220 62,788
77,614
63,054
78,193
63,132
78,339
63,151
78, 527
63, 300
77,091
62,050
77,339
62,098
78, 413
64, 236
44, 190
24, 697
694
3,957
76, 985
62, 212
43, 865
22, 549
745
3,457
76, 679
61, 863
43,9779
22 22
'743
3,395
77,023
62,168
43,914
22,418
77,310
62,465
44,048
22,601
77,555
62,591
44,098
22,669
62, 599
77,574
78,179
63,214
44,492
22,914
78,338
63,370
44,607
22,901
3,402
77, 796
62, 793
44, 225
22, 743
769
3,409
3,406
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
20, 046
11, 895
177
626
517
690
1,344
1,505
2,218
2,030
1,821
520
448
18, 347 18, 155
10, 679 10, 637
176
171
536
557
436
451
608
614
1,189
1,180
1,332
1,336
2,069 2,098
1,746
1,761
1,631
1,649
488
489
397
404
18, 162 18, 100 18, 084
10, 595 10, 527 10, 465
172
173
177
552
557
546
441
437
439
604
605
609
1,149
1,134
1,168
1,324
1,317
1,298
2,064 2,035 2,017
1,735
1,723
1,712
1,657
1,645
1,653
482
481
481
398
399
403
18,254
10,563
18,493
18,482
10,653
18, 568
Nondurable goods
do
Food and kindred products.._
do
Tobacco manufactures
do
Textile mill products
..do
Apparel and other textile products, .do
Paper and allied products
.do
Printing and publishing
do
Chemicals and allied products
do
Petroleum and coal products
do
Rubber and plastics products, nee_do
Leather and leather products
do
8,151
1,713
80
988
1,348
702
1,112
1,C57
199
676
278
7,668
1,676
78
902
1,235
643
1,079
1,013
197
588
257
7,518
1,664
75
865
1,191
629
1,084
1,003
193
568
246
7,567
1,670
75
885
1,205
631
1,079
1,004
195
574
249
7,573
1,671
75
891
1,215
627
1,073
1,OCO
197
572
252
7,619
1,668
79
897
1,245
633
1,068
999
199
575
256
53, 715
4,696
17,017
4,223
12, 794
4,208
13,617
14, 177
2,724
11, 453
54, 436
4,498
16, 947
4,177
12, 771
4,223
13, 995
14, 773
2,748
12,025
54, 134
4,508
16, 847
4,176
12, 671
4,209
13, 878
14, 692
2,731
11, 961
54, 171
4,491
16, 857
4,175
12, 682
4,208
13, 889
14, 726
2,732
11, 994
54, 110
4,469
16, 877
4,153
12, 724
4,202
13, 871
14, 691
2,738
11, 953
54,457
4,464
53, 029
14, 613
51, 046 50, 138
13, 070 12, 731
50, 601
12, 8C7
53, 029
18, 374
527
3,234
14, 613
8,641
85
533
423
552
1,074
1,150
1,495
1,372
1,285
322
350
Seasonally Adjusted!
Total employees, nonagricultural payrolls J. .do
Private sector (excl. government)
do.
Nonmanufacturing industries
do
Goods-producing
.do
Mining
.do
C ontract construction
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
do
do
do
do
do
do
do
do
do
do
Production or nonstipervisory workers on private
nonagric. payrolls, not seas, adjusted
thous..
Manufacturing
...do
76, 462
61, 770
43, 615
22, 328
732
3,441
76, 510
61, 784
43, 622
22, 339
738
3,439
76, 343
61, 652
43, 552
22, 233
741
3,392
16, 984
4,161
12, 823
749
3,415
752
3,432
774
44,117
22,657
766
3,428
78,630
63,595
44,718
23,013
770
763
'
3, 366
3,375
78,942 78,999
63,868 63,899
44, 899 44,971
23, 134 23,101
'773
771
' 3, 392 3,402
10,717
18,722
10,820
18,763
10,846
2,030
18,969 18,928
10, 996 11,028
161
161
'597
600
'493
495
'623
623
' 1, 179 1,180
' 1, 389 1,388
'2,053 2,058
' 1, 828 1,832
' 1, 738 1,752
511
'510
'425
428
764
10, 650
165
568
464
615
1,169
1,340
10, 661
164
576
467
615
1,149
1,344
2,039
2,032
2,039
2,039
1, 755
1,643
486
410
1,767
1,641
490
409
1, 764
1,648
492
409
1,773
1, 676
494
409
1,785
1,712
498
419
1,795
1,699
501
422
18, 877
10, 937
161
'596
487
616
' 1, 173
' 1, 381
' 2, 049
'1,818
' 1, 726
'505
'425
7,691
1,688
78
918
1,245
639
1,072
1,008
199
588
256
7,767
7,832
1,688
81
950
1,290
652
1,072
1,020
202
604
270
7,851
1,688
79
955
1,299
658
1,074
1,018
201
608
271
7,902
1,695
79
953
1,287
652
1,071
1,019
201
608
267
7,829
1,693
80
938
1,261
648
1,075
1,011
200
599
262
7,917
1,709
77
964
1,306
667
1,069
1,029
204
617
275
r 7, 940 ' 7, 973
' 1, 695 ' 1, 708
'75
'75
'973
'964
' 1, 322 ' 1, 316
'674
'671
' 1, 075 1,076
1,030 ' 1, 032
'204
204
'635
627
280
277
54,605
4,466
54,709
4,467
17,045
54,886
4,476
17,043
54, 917
55, 053
55,265
4,494
17,233
12,857
12,864
4,239
14,113
14,845
12,836
4,248
14,188
14,975
14, 229
15, 003
14, 965
12,214
12, 248
12, 219
55,617 55,808 55,898
4,517 ' 4, 498 ' 4, 512 4,497
17,326 17,386 17, 444 17,457
4,236 '• 4, 236 ' 4, 254 4,269
13,090 13, 150 13, 190 13,188
4,276 ' 4, 290 4,285
4,266
14,360 14, 422 14, 488 14,559
14,998 15,035 15,074 15,100
2,732 ' 2, 730 2,729
2,740
12,258 12,303 12,344 12,371
167
563
452
610
1,148
1,331
2,013
1,747
3,645
481
406
17, 016
4, 159
18,417
2,035
4,181
4,180
161
576
470
616
1,146
1,339
4,496
17,010
4,174
163
581
473
616
1,158
1,344
4,477
17, 080
4,190
12, 890
162
592
477
616
1,162
1,358
1,700
79
958
1,314
665
1,069
1,024
203
615
275
4,214
162
595
484
612
1,168
1,369
7,900
1,701
75
973
1,314
680
1,077
1,026
202
574
278
55,467
14,855
2,756
12,099
12,080
12,863
4,246
14,157
14,964
2,767
12,197
51, 207 51, 041
12, 981 12, 744
51, 601
51, 873
51, 950
13,180
13,428
13,420
51,952
13,370
52, 113
13, 329
50,872
13,243
50,907
13,290
51,361
13,409
52,080
13,527
52,536
13,542
51, 046 50, 585 50, 629 50, 536 50, 736
16, 397 16, 161 16, 194 16, 122 16, 115
565
561
564
560
553
2,762 2,745
2,747 2,712 2,711
13, 070 12, 863 12, 887 12, 849 12, 840
7,543 7,483 7,454 7,404 7,348
82
80
81
84
84
464
444
459
454
463
364
351
354
355
349
485
477
479
477
478
889
919
923
905
878
992
979
960
996
985
1,317
1,300
1,346
1,372
1,339
1,140
1,106
1,097
1,123
1,113
1,155
1, 151
1,148
1,126
1,143
286
287
293
291
287
303
307
309
301
303
51, 052
51,315
16,467
51, 435
51,420
16,512
51,963
16,744
52,103
16,723
52,560
16,894
569
2,741
13,448
7,698
13,666
7,854
2,687
13,624
7,882
77
469
366
483
892
993
1,300
1,131
1,142
286
311
75
475
379
488
911
1,000
1,314
1,139
1, 140
291
315
75
483
381
488
894
1,004
1,319
1,151
1,144
295
314
2,659
13,487
7,722
52,293
16, 815
'583
' 2, 655
13,577
' 7, 795
73
'498
'399
'489
'917
' 1, 040
' 1, 326
' 1, 197
52,529
567
51, 592
16, 600
587
5,492
5,561
1,147
65
800
1,071
479
632
566
128
453
220
5,630
5,687
4,203
13, 990
14, 816
2,745
12, 071
4,218
14, 050
2, 765
2,761
4,264
2,755
13,019
4,266
14,307
2,746
Seasonally Adjusted}:
Production or nonsupervisory workers on private
nonagricultural payrolls?
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
.do
Stone, clay, and glass products
do
Primary metal industries
.do
Fabricated metal products...
.do
Machinery, except electrical
.do
Electrical equipment and supplies...do
Transportation equipment
.do
Instruments and related products
do
Miscellaneous manufacturing.
do
Nondurable goods
.do
Food and kindred products
do
Tobacco manufactures..
do
Textile mill products.
do
Apparel and other textile products...do
Paper and allied products
do
Printing and publishing
.do
Chemicals and allied products.
.do
Petroleum and coal products
do
Rubber and plastics products, nee...do
Leather and leather products
do
5,972
1,164
66
862
1,163
540
671
612
126
530
237
5,528
1,136
65
782
1,061
483
636
570
125
450
219
5, 380
1,125
62
745
1,020
471
639
558
121
430
209
5,433
1,131
62
766
1,033
472
636
562
123
436
212
5,445
1,133
62
771
1,043
469
631
560
125
436
215
Service-producing
_.
do
34, 656 34, 652 34, 424 34, 435 34, 414
Transportation, comm., elec., gas, etc
do
3, 857
3,865 3,849
3,831
4,058
Wholesale and retail trade..
do
14, 964 14, 858 14, 862 14, 896
15, 065
Wholesale trade..
.do
3,462 3,461
3,458 3,440
3,526
Retail trade.
_.
.do
11, 502 11,397 11,404 11,456
11,540
Finance, insurance, and real estate
do
3,221
3,208
3,206 3,209
3,240
Services
do
12,607 12,495 12, 515 12, 479
12, 293
' Revised.
» Preliminary.
^Effective with the Oct. 1975 SURVEY, all establishment (payroll) employment, hours,
earnings, and labor turnover reflect the periodic adjustment of these data to more recent
benchmarks (Mar. 1974) and to revised seasonal factors. Data back to Jan. 1970 are subject
to revision. The Oct. 1975 EMPLOYMENT AND EARNINGS (BLS) provides monthly data back
to 1970 for many of the series published in the SURVEY.
1,131
65
777
1,071
474
629
560
127
439
219
16,312
2,734
13,011
7,450
13,157
7,527
1,150
66
819
1,
487
632
573
128
463
226
16,532
585
2,712
13,235
7,548
1,154
65
832
1,107
490
630
579
129
471
230
581
2,709
13,222
7,539
71
481
384
489
892
1,000
1,310
1,147
1,155
296
314
5,683
1,143
67
831
1,112
492
629
580
130
466
233
2,702
13,311
7,603
582
2,714
73
496
390
489
73
485
387
489
903
1.006
1,308
1,160
1,182
298
312
1,020
1,317
1,171
1,211
302
322
5,708
5,750
1,144
66
836
1,121
497
631
579
130
470
234
907
1,156
66
837
1,133
502
627
583
131
477
238
577
73
497
397
486
911
1,030
1,318
1,179
1,202
304
325
r 1, 224
'305
'327
16, 937
'587
' 2, 684
'
'
'
'
'74
'500
404
'496
'923
1, 049
1, 328
1, 209
1, 235
'310
'326
5,765 ' 5, 782 '5,812
1,166 ' 1, 153 ' 1, 164
61
'62
64
'850
'842
841
1,127
505
626
587
132
479
238
r 1, 140
'508
'629
588
132
'488
'240
1,135
'512
'630
'589
'133
496
242
583
73
502
408
496
926
1,048
1,332
1,215
1,242
312
328
5,742
1,159
62
849
1,132
516
631
586
131
435
241
35, 592 35,666
35, 478 '35,592
34,621 34,740 34,848 34,903 34,908 34,992 35,219 35,380 '35,478
3,827
3,825
3,828
3,835
3,854 3,832
3,854
3,880 '3,863 '3,867
3,854
14,992 15,032 15,076 15,077 15,031 15,087 15,226 15,304 '15,349 '15,414 15,429
3,448
3,445 3,463 3,459
3,452 3,467 3,492 3,509 '3,505 '3,519
3,533
11,544 11,587 11,613 11,618 11,579 11,620 11,734 11,795 '11,844 '11,895 11,896
3,203
3,218
3,234
3,232 3,240 3,251
3,258
3,258 '3,268 '3,273 3,264
12,599 12,665 12,710 12,759 12,783 12,822 12,881 12,938 '12,998 '13,038 13,119
ONOTE FOR P. S-16: In accordance with the 1975 Tax Reduction Act (effective May 1,
1975), new formulas have been constructed for the period May-Dec. 1975 for calculating spendable earnings. Therefore, the entire reduction in 1975 taxes is accounted for in the period
May-Dec. 1975. The 4.5% increase from Apr. to May 1975 in real spendable earnings reflects a
.1% decrease in real weekly earnings plus a 4.6% decrease in the average tax effect (the change
in average social security/federal income tax rates for worker with 3 dependents who earned
the average weekly earnings).
SURVEY OF CURRENT BUSINESS
June 1976
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown
in the 1973 edition of BUSINESS STATISTICS
1974
1976
1975
1975
Annual
S-15
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr."
May*
LABOR FORCE, EMPLOYMENT, AND EARNINGS—Continued
AVERAGE HOURS PER WEEK
Seasonally Adjusted
Avg. weekly hours per worker on private nonagric.
payrolls :J1I Seasonally adjusted
hours. Not seasonally adjusted
do
Mining
do
Contract construction
do
Manufacturing: Not seasonally adjusted.. .do
Seasonally adjusted
do..
Overtime hours
do
35 9
35.8
42 6
36 9
39.0
39.0
2 4
36 0
36.3
42 2
35 7
39.5
39.3
2 4
36.0
36.4
42 1
36.2
39.2
39.4
2 6
36 2
36.6
41 8
36 7
39.7
39.7
28
36.1
36.3
42 1
36.7
40.2
39.8
36 2
36.2
42 7
36 6
39.9
39.8
2 8
36 3
36.2
42 9
36 8
40.1
39 9
28
36 4
36.5
42 8
37 3
40.8
40.3
30
36.5
36.0
43.0
37.7
39.9
40.5
3.0
36.4
36.0
43.1
37.9
39.9
40.3
3.1
36.2
35.9
'42.8
35.9
40.0
40.2
3.2
36.0
35.8
'42.4
'37.5
'39.2
'39.4
'2.5
36.3
36.2
42.6
37.4
40.3
40.3
3. 3
3.2
26
35.9
35.7
41 1
36 8
38.9
39.1
2 3
Durable goods.
Overtime hours
Ordnance and accessories
.
Lumber and wood products.
Furniture find
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
40.7
3.4
41 7
39.7
39.0
41.4
41.7
40.8
42.3
39.8
40.1
40.2
38.5
39.9
2.5
41.3
39.1
37.9
40.6
40.0
40.0
40.9
39.5
40.3
39.5
38.3
39.7
2.4
41 3
38.8
37.2
40.3
39.7
39.7
41.0
39.4
40.5
39.2
38.1
39.5
2.2
41 1
38.8
37.5
40.2
39.5
39.5
40.5
39.1
39.5
39.3
38.1
39.6
2.3
41 6
39.0
37.6
40.3
39.6
39.5
40.4
39.3
40.0
39.4
38.3
39.8
2.5
40 1
39.1
37.8
40.6
39.7
39.5
40.5
39.5
40.7
39.7
38.1
40.2
2.7
41 2
39.5
38 3
40.7
39.9
40.0
40.8
39.6
41.2
39.5
38.2
40.2
2.7
41.7
39.6
38.9
40.8
39.9
40.2
40.7
39.6
40.9
39.7
38.7
40.0
2.6
41 6
39.8
38.9
40.8
39.9
40.4
40.6
39.6
40.4
39.7
38.8
40.2
2.7
41 7
39.4
39.1
40.9
40.2
40.5
40.9
39.6
40.8
39.9
38.6
40.7
2.9
41.3
40.2
39.5
41.3
40.3
41.1
41.2
40.1
41.9
40.3
39.2
40.9
2.9
41.4
40.8
39.4
41.5
40.4
41.0
41.3
40.4
41.7
40.4
39.1
40.7
3.0
40.7
40.5
39.3
41.4
40.6
41.0
41.2
40.2
41.6
40.2
38.7
40.6
3.1
'40.8
'39.9
39.0
40.7
'40.5
40.9
41.0
40.1
'42.1
'40.5
38.8
39.7
'2.5
'39.7
40.1
'38.3
41.0
'40.5
'39.6
40.2
'39.1
'40.5
'39.7
'38.1
41.0
3.3
40.4
40.5
38.8
41.6
41.4
40.9
41.3
40.5
42.0
41.0
38.8
Nondurable goods
Overtime hours
Food and kindred products
Tobacco manufactures _ .
Textile mill products...
Apparel and other textile products
do
do
do
do
do
do .
39.1
3.0
40.4
38.0
39.4
35.1
38.8
2.7
40.3
38.0
39.2
35.1
38.0
2.2
39.9
38.3
37.7
34.3
38.3
2.4
39.9
36.9
38.9
34.4
38.7
2.6
39.9
39.8
39.2
35.2
38.8
2.8
40.1
35.4
39.6
35.2
39.3
2.9
40.7
37.6
40.4
35.5
39.4
3.0
40.9
38.0
40.9
36.0
39.5
3.0
40.6
37.5
41.0
36.2
39.5
3.0
40.4
39.7
41.0
36.1
39.7
3.2
40.5
37.7
41.2
36.6
39.9
3.3
40.7
39.1
41.4
36.6
39.7
3.1
40.5
39.5
40.9
36.3
39.5
3.2
40.2
39.3
40.7
' 36. 2
38.7
2.5
'40.0
'38.5
'38.9
'34.9
39.5
3.1
40.3
38.1
40.8
36.0
do
.do
do
do
do
do
42.1
37.6
41.6
42.5
40.4
37.2
41.6
37.0
40.9
41.6
39.7
37.4
40.4
36.8
40.3
41.0
39.0
36.5
40.9
36.7
40.6
41.5
39.6
36.5
41.5
36.7
40.7
41.2
39.6
37.5
41.6
36.7
40.9
41.3
40.0
37.8
42.1
37.1
41.1
41.0
40.1
38.0
42.2
36.9
41.3
41.6
40.1
38.4
42.3
37.0
41.4
41.8
40.0
38.9
42.4
37.3
41.4
42.0
40.0
38.4
42.9
37.6
41.7
41.8
40.6
38.7
42.7
37.8
41.6
42.5
40.9
38.6
42.7
37.5
41.7
42.4
40.9
38.4
42.5
'37.4
41.5
'42.4
41.0
38.6
'41.8
'37.1
'41.4
'42.1
39.4
'37.6
42.9
37.4
41.2
42.4
40.7
38.3
do
do
do
do
do
do
40.2
34.1
38.9
32.7
36.7
33.9
39.6
33.8
38.6
32.4
36.5
33.8
39.8
33.7
38.6
32.3
36.2
33.7
39.2
33.9
38.6
32.5
36.4
33.9
39.5
33.8
38.4
32.4
36.5
33.9
39.4
33.6
38.5
32.2
36.3
33.7
39.5
33.8
38.6
32.3
36.3
33.8
39.7
33.6
38.5
32.2
36.3
33.6
39.7
33.9
38.8
32.3
36.4
33.7
39.6
33.8
38.7
32.5
36.7
33.9
39.9
33.9
38.8
32.4
36.4
33.6
39.6
33.9
38.9
32.5
36.5
33.7
39.8
33.9
38.8
32.3
36.7
33.7
'39.9
33.7
38.7
32.2
36.5
33.5
'39.8
33.9
'38.8
'32.5
'36.5
33.5
39.7
33.9
38.8
32.4
36.8
33.6
150. 72
122. 63
1.53
7.58
41.50
9.82
30.27
8.01
23.93
28.08
146. 75
117.58
1.64
6.58
37.62
9.27
29.88
8.01
24.59
29.17
145. 58
116. 32
1.56
6.58
36.94
9.33
29.66
7.92
24.32
29.26
145. 70
116. 60
1.64
6.60
36.95
9.16
29.81
7.96
24.48
29.10
145. 04
116.24
1.63
6.30
36.98
9.18
29.73
7.98
24.45
28.80
145. 35
116. 46
1.63
6.39
37.05
9.15
29.80
7.93
24.52
28.89
146.81
117.61
1.63
6.52
37.70
9.17
29.94
7.96
24.69
29.20
147.26
118.00
1.65
6.55
38.06
9.18
29.91
8.00
24.66
29.26
148.29
118.49
1.72
6.48
38.17
9.24
30.04
8.04
24.81
29.80
148.44
118.92
1.71
6.52
38.22
9.26
30. 09
8.11
25.01
29.51
149.09
119.37
1.71
6.61
38.66
9.29
30.17
8.07
24.86
29.72
150.30
120. 50
1.71
6.72
39.12
9.25
30.53
8.10
25.07
29.80
149.78
120.62
1.71
6.65
39.07
9.35
30.53
8.14
25.16
29.17
149. 87
120. 32
'T 1.71
6.28
' r39. 21
9.33
' 30. 54
8.12
r
25. 12
* 29. 55
149. 00
120. 70
'r 1.70
6. 61
r
38. 79
'9.34
' 30. 87
8.14
' 25. 24
' 28. 30
151. 16
121.56
1.71
6.62
39.48
9. 28
30.83
8.20
25.44
29.60
113.0
103.4
111.7
117.1
100.7
102.0
98.8
119.7
108.6
116.2
114.4
116.9
125.0
127.9
107.4
91.2
119.5
99.0
88.8
87.5
90.8
118.6
101.7
114.3
111.6
115.3
123.5
130.8
106.0
89.2
113. 7
99.0
86.6
86.5
86.7
117.6
102.3
113.4
111.5
114.0
122.1
129.3
106.3
89.4
119.4
99.3
86.6
85.4
88.2
118.0
100.3
113.9
111.4
114.8
122.9
130.3
106.0
88.9
118.4
94.9
86.8
85.2
89.1
117.8
100.6
113.7
110.3
115.0
123.2
129.9
106.2
89.3
118.8
96.2
87.1
84.9
90.2
118.0
100.3
114.0
110.8
115.2
122.3
130.4
107.4
91.2
118.6
98.3
89.0
86.7
92.4
118.7
100.5
114.6
111.0
115.9
122.9
131.4
107.9
92.4
119.9
98.6
90,3
87.7
94.1
118.7
101.1
114.6
111.3
115.8
123.5
131.1
108.4
92.7
125.0
97.3
90.8
87.8
95.1
119.3
101.2
115.1
112.0
116.2
123.7
132.0
108.8
92.9
124.7
97.7
90.9
88.1
95.0
119.8
101.5
115.2
111.5
116.6
125.1
133.1
109.3
94.3
125.7
98.8
92.5
90.0
96.2
119.7
101.7
115.5
112.3
116.6
124.5
132.3
110.3
95.5
125.2
100.3
93.7
91.3
97.1
120.6
101.5
116.8
113.4
118.1
125.1
133.3
110.5 ' 110. 2 '110.5
95.2 '94.8 '94.5
124.4 ' 124. 8 ' 124. 5
98.8 '93.4 '98.6
93.6 ' 94. 0 ' 92. 7
91.3 '92.0 '90.9
95.3
96.9 '96.9
120.9 ' 121. 6
121.0
102.5 ' 102. 3
102.7
116.8 '118.2
116.8
113. 2 ' 114. 0
113.6
118.1 ' 119. 8
118.0
125.5 ' 125. 6
125.8
133.7 ' 134. 1
133.9
111.4
96.1
124.3
98.5
94.7
93.7
96. 1
122. 0
101. 7
118.0
4.22
5.21
6.75
4.41
4.24
4.69
4.50
4.71
3.91
3.50
4.52
5.60
4.59
4.92
4.17
5.48
4.20
3.50
4.54
5.90
7.25
4.81
4.66
5.14
4.98
5.23
4.28
3.75
4.89
6.17
5.04
5.36
4.58
6.02
4.56
3.79
4.46
5.73
7.12
4.73
4.60
5.04
4.90
5.10
4.13
3.71
4.78
6.01
4.93
5.26
4.51
5.86
4.49
3.75
4.48
5.81
7.12
4.75
4.61
5.06
4.93
5.15
4.17
3.70
4.83
6.04
4.98
5.29
4.53
5.88
4.52
3.75
4.51
5.87
7.18
4.78
4.63
5.10
4.95
5.17
4.25
3.72
4.87
6.07
5.03
5.32
4.58
5.96
4.54
3.78
4.53
5.88
7.24
4.81
4.65
5.13
4.98
5.22
4.31
3.74
4.93
6.11
5.04
5.33
4.61
6.00
4.56
3.79
4.56
5.92
7.27
4.82
4.65
5.16
5.00
5.28
4.39
3.78
4.96
6.29
5.10
5.39
4.60
6.01
4.57
3.79
4.64
6.02
7.42
4.89
4.70
5.24
5.06
5. 39
4.43
3.79
5.01
6.39
5.17
5.47
4. 66
6.14
4.60
3.82
4.66
6.02
7.42
4.90
4.72
5.26
5.08
5.41
4.42
3.81
5.02
6.35
5.19
5.51
4.66
6.24
4.60
3.83
4.68
6.11
7.45
4.93
4.76
5.29
5.11
5.44
4.41
3.82
5.06
6.43
5.22
5.54
4.70
6.25
4.64
3.87
4.68
6.17
7.51
5.00
4.82
5.38
5.19
5.54
4.43
3.85
5.06
6.48
5.29
5.62
4.78
6.39
4.74
3.94
4.72
6.27
7.50
5.02
4.85
5.38
5.20
5.49
4.46
3.86
5.05
6.51
5.29
5.61
4.77
6.35
4.75
3.97
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
36.6
42.4
36.9
40.0
36.1
42 3
36.6
39.4
AGGREGATE EMPLOYEE-HOURS
Seasonally Adjusted
Employee-hours, wage & salary workers in nonagric. establish., for 1 week in the month, seasonally adjusted at annual ratej
bil. hours..
Total private sector .
do
Mining
do
Contract construction
do
Manufacturing
do
Transportation, comm., elec., gas
do
Wholesale and retail trade
do
Finance, insurance, and real estate.
do
Services
do
Government _.
do
Indexes of employee-hours (aggregate weekly) :JH
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
119.4
126. 3
135.3
HOURLY AND WEEKLY EARNINGS
Average hourly earnings per workenjlf
Not seasonally adjusted:
Private nonagric. payrolls
dollars-Mining.
...do
Contract construction
do
Manufacturing
do
Excluding overtime,.. .. ..- .. do .
Durable goods
do
Excluding overtime
.
do
Ordnance and accessories
do
Lumber and wood products
do ..
Furniture and fixtures
do
Stone, clay, and glass products
do
Primary metal industries
do
Fabricated metal products.
...do
Machinery, except electrical
do
Electrical equipment and supplies .do
Transportation equipment
do
Instruments and related products..do
Miscellaneous manufacturing ind... do
' Revised.
» Preliminary.
} See note "t", p. S-14.
^Production and nonsupervisory workers.
4.74
6.29
7.47
5.04
4.86
5. 10
5.21
5.54
4.48
3.87
5.07
6.56
5.30
5.63
4.78
6.38
4.77
3.95
4.75
6. 29
' 7. 54
'5.07
4.88
5.43
5.24
'5.56
'4.50
3.90
5. 11
'6.63
5.32
'5.66
' 4. 80
6.44
4.78
3.96
'4.77
6. 30
4.83
'5.07
' 4. 92
' 5. 41
' 5. 26
' 5. 59
' 4.51
' 3.91
5.13
'6.76
5. 27
'5.62
'6.31
4.77
' 3.94
5. 29
5 07
6.79
5.70
4 OK.
6.45
3.97
SURVEY OF CURRENT BUSINESS
S-16
Unless otherwise stated in footnotes below, data
through 1972 and descrVive notes are as shown
In the 1973 edition of BUSINESS STATISTICS
1974
June 1976
1975
1975
Apr.
Annual
May
June
July
Aug.
1976
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.?
May?
LABOR FORCE, EMPLOYMENT, AND EARNINGS—Continued
HOURLY AND WEEKLY EARNINGS— Con.
Avg. hourly earnings per worker, private nonagric.
payrolls. Not seas, adj-t ^—Continued
M anuf act uri n g— C ontinued
Nondurable goods
dollars
Excluding overtime
do
Food and kindred products
__do.
Tobneco 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
.
.do
Finance, insurance, and real estate
do
Services
_.do
Seasonally adjusted: J
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.: 0 Ht
Private nonfarm economy:
Current dollars
1967=100
1067 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): cf
Common labor. ...
$perhr_.
Skilled labor
do
Farm (U.S.) wage rates, hired workers, by
method of pay:*
All workers, including piece-rate
$ per hr_.
All workers, other than piece-rate
do
Workers receiving ca^h wages only
do
Workers paid per hour, cash wages only. -do
Avg. weekly earnings per worker, If private nonfarm :J
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 adjusted :J
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
Wh olesale trade
do
Retail trade
_
__do_Finance, insurance, and real estate
do
Services
..do
HELP-WANTED ADVERTISING
Seasonally adjusted indexf
1967=100
LABOR TURNOVER!
Manufacturing establishments:
Unadjusted for seasonal variation:
Accession rate, total
mo. rate per 100 employ ees_.
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
_
Workers involved in stoppages:
Beginning in month or year
Days idle during month or year
number
thous.-
3.99
3.84
4.16
4.10
3.19
2.99
4.51
4.97
4.85
5.61
4.03
3.01
5.43
3.47
4.49
3.09
3.82
3.76
4.35
4.20
4.57
4.51
3.40
3.19
4.99
5.36
5.37
6.42
4.35
3.23
5.92
3.75
4.89
3.34
4.13
4.06
4.27
4.16
4.49
4.77
3.32
3.16
4.81
5.25
5.22
6.30
4.25
3.21
5.75
3.69
4.80
3.29
4.09
3.99
4.30
4.17
4.52
4.77
3.33
3.15
4.86
5.32
5.30
6.33
4.30
3.20
5.78
3.72
4.83
3.31
4.11
4.01
4.32
4.18
4.54
4.89
3.34
3.16
4.95
5.35
5.35
6.38
4.33
3.21
5.83
3.73
4.87
3.33
4.16
4.02
4.36
4.21
4.55
4.62
3.34
3.16
5.05
5.41
5.42
6.51
4.42
3.22
5.90
3.73
4.88
3.33
4.13
4.03
4.36
4.20
4.58
4.32
3.38
3.16
5.10
5.45
5.44
6.55
4.39
3.21
6.05
3.76
4.93
3.35
4.15
4.03
4.41
4.23
4.62
4.29
3.48
3.22
5.11
5.49
5.48
6.61
4.41
3.26
6.11
3.80
4.94
3.39
4.16
4.13
4.42
4.25
4.65
4.27
3.53
3.24
5.15
5.49
5.50
6.61
4.42
3.25
6.14
3.82
4.98
3.41
4.17
4.16
4.45
4.28
4.70
4.40
3.53
3.25
5.21
5.47
5.56
6.66
4.44
3.28
6.19
3.83
5.02
3.41
4.24
4.22
4.48
4.31
4.75
4.54
3.55
3.27
5.23
5.50
5.61
6.67
4.51
3.31
6.18
3.81
5.03
3.40
4.23
4.23
4.53
4.37
4.81
4.84
3.57
3.33
5.25
5.53
5.66
6.96
4.50
3.37
6.23
3.89
5.05
3.47
4.26
4.26
4.54
4.38
4.83
4.88
3.56
3.33
5.25
5.58
5.69
7.03
4.52
3.39
6.29
3.90
5.07
3.48
4.33
4.29
'4.56
4.39
'4.84
'5.01
3.57
'3.37
'5.25
'5.60
5.70
7.08
4.55
3.40
6.29
'3.91
5.06
3.48
'4.31
'4.28
'4.58
'4.44
'4.88
'5.14
'3.52
'3.37
5.27
'5.61
'5.75
'7.13
'4.50
3.41
'6.33
'3.92
5.10
'3.50
'4.35
'4.30
4.59
4.42
4.91
5.12
3.58
3.36
5.32
5.65
5.81
7.17
4.38
3.41
6.38
3.94
5.15
3.51
4.41
4.34
4.22
5.21
6.75
4.41
5.43
3.47
3.82
3.76
4.54
5.90
7.25
4.81
5.92
3.75
4.13
4.06
4.47
5.71
7.18
4.73
5.77
3.68
4.08
3.99
4.49
5.82
7.16
4.75
5.82
3.71
4.11
4.01
4.51
5.89
7.27
4.78
5.87
3.73
4.18
4.04
4.54
5.92
7.33
4.82
5.90
3.74
4.14
4.06
4.57
5.97
7.30
4.86
6.05
3.78
4.18
4.08
4.60
6.01
7.32
4.88
6.04
3.79
4.16
4.10
4.63
6.08
7.32
4.90
6.12
3.82
4.18
4.15
4.68
6.10
7.41
4.93
6.17
3.84
4.26
4.22
4.68
6.11
7.46
4.96
6.17
3.84
4.22
4.22
4.73
6.19
7.46
5.00
6.22
3.87
4.24
4.25
4.75
6.26
7.46
5.04
6.29
3.88
4.30
4.27
4.77
6.30
'7.59
'5.08
6.33
'3.90
'4.30
'4.27
'4.78
6.27
'7.58
'5.06
'6.35
'3.91
'4.34
'4.30
4.84
6.38
7.64
5.14
6.42
3.93
4.41
4.34
158.6
107.4
163.1
163.7
156.0
167.3
155.0
148.6
163.3
172.7
107.1
183.2
175.4
171.5
182.5
168.1
161.5
176.0
169.4
106.8
178.1
173.7
168.6
177. 6
164.9
159.4
172.5
170.6
107.0
180.7
173.4
169.7
179. 3
166.4
160.4
173.5
172.2
107.2
182.8
175.9
171.0
181.1
167.5
163.1
175.5
173.1
106.7
184.0
177.4
172.2
182.4
168.3
161.5
175.8
174.6
107.3
186.2
176.7
173.3
186.2
170.5
163.0
177.1
175.2
107.2
187.2
177.3
174.5
186.3
170.5
162.6
177.8
176.7
107.4
188.9
177. 7
176.0
188.8
171.9
163.8
179.4
178.2
107.7
189.4
179.2
176.9
190.7
172.9
167.1
182.2
178.6
107.3
190.2
180.3
177.6
190.5
172. 4
165.1
182.6
179.6
107.5
192.2
180.0
178.8
192.2
174.0
165.9
184.6
180.8
108.1
193.6
180.1
179.8
194.1
174.4
168.3
185.4
181.4
108.2
' 194. 8
' 183. 4
180.7
' 194. 8
' 174. 9
' 168. 3
' 185. 2
' 182. 3
' 108. 3
' 195. 1
' 183. 6
'181.8
' 195. 6
' 175. 5
' 169. 9
' 186. 4
183.6
108.5
197.8
184.9
182.4
197.8
176.8
172.3
188.3
7.55
10.18
8.30
11.01
7.99
10.70
8.06
10.76
8.23
10.93
8.44
11.08
8.57
'11.26
8.58
11.29
8.59
11.35
8.60
11.37
8.62
11.42
8.62
11.42
8.63
11.43
8.63
11.44
8.63
11.52
'8.77
'11.69
2.25
2.21
2.43
2.32
5.707
2.43
2.38
2.60
2.45
2.42
2.39
2.63
2.46
154. 45
104. 57
163. 89
101. 67
160. 47
101. 12
161. 19
"101.06
162. 36
101. 10
163. 44
100. 76
165. 43
101. 62
166. 06
101. 57
167. 61
101. 89
169. 88
102. 65
170. 35
102. 37
172.65
103.32
172.90
103.35
172. 67 ' 172.08
103. 03 ' 102.25
175. 69
103. 77
134. 37
90.97
145. 93
90.53
139. 00 "146. 00
87.59 °91. 54
146. 91
91.48
147. 76
91. 10
149.31
91.71
149. 81
91. 63
151.02
91. 81
152. 76
92. 30
153. 12
92.02
153.72
91.99
153.91
92.00
153. 73 ' 153.28
91.72 '91.08
156. 05
92.17
154. 45
220. 90
249. 08
176. 40
190. 88
156. 01
218. 29
118.33
174. 66
101. 04
140. 19
127. 46
163. 89
249. 57
265. 35
189. 51
205. 09
168. 78
234. 43
126. 75
188. 75
108. 22
150. 75
137. 23
159. 22
233. 78
259. 17
184. 00
199. 58
161. 41
226. 55
123. 25
183. 84
104. 95
148. 06
133. 67
160. 38
247. 51
262. 73
185. 25
199.87
164. 26
226. 00
124. 99
185. 96
106. 25
149. 19
134. 74
163. 71
250. 65
262. 07
188. 81
203. 49
168. 05
231. 45
127. 19
187. 98
109. 22
151. 84
137. 08
164. 89
248. 72
270. 05
188. 55
202. 64
169. 60
235. 41
128. 69
188. 86
110. 89
150. 33
138. 23
166.90
248.64
274.81
191.35
205.88
172.22
241.40
130.10
190.79
111.89
151.06
138.23
168. 43
255.25
278.99
196. 58
212.22
175. 52
243. 79
128. 06
190.68
109.50
150.59
139. 18
168. 69
259. 46
278. 25
195.51
211.45
175. 03
244. 99
128. 73
193. 22
109. 46
151.79
139. 78
169. 42
262. 73
270. 44
197. 69
213. 72
176. 67
245. 12
128. 69
194. 27
109. 46
155. 18
142. 21
170. 82
264.69
275.62
204. 00
222 73
179.20
246.58
130.30
197.18
111.18
153. 97
142.13
169.92
266.48
27000
200. 30
216.81
178. 48
244.84
129.93
195.44
110.69
155.49
142.71
170.64
268.58
272.66
201.10
218.16
178. 42
248.46
130.26
195.20
110.66
158.91
143. 72
170. 53
265.44
269.18
202. 80
219.92
179.21
' 248.46
' 130.20
194. 81
110. 32
' 156.88
' 142.52
' 170.77
' 265.23
'278.99
' 198. 74
' 214.24
' 176.33
' 249.40
' 131.71
' 196.35
' 112.35
' 158.78
' 143.19
110
80
74
74
81
84
83
83
83
87
88
87
93
94
91
4.2
3 2
4.8
2.3
1.5
3.7
2.0
4.2
1.4
2.1
3.7
1.6
4.0
1.1
2.1
3.9
2.0
3.9
1. b
1.8
4.5
2.5
3.6
1.3
1.5
4.5
2.6
4.4
1.5
2.0
5.1
3.1
4.6
2.4
1.3
4.6
3.0
4.3
2.0
1.4
3.7
2.4
4.0
1.6
1.6
2.8
1.7
3.5
1.2
1.7
2.2
1.3
3.4
.9
1.9
3.8
2.1
3.7
1.3
1.6
3.5
2.1
3.1
1.2
1.1
4.2
2.6
3.5
1.5
1.1
3.9
2.5
3.5
1.7
1.1
3.9
1.7
4.5
1.2
2.6
3.5
1.8
4.1
1.3
2.6
3.5
1.8
3.9
1.3
2.1
4.2
2.4
4.0
1.5
1.5
4.0
2.4
3.6
1.5
1.5
3.7
2.3
3.5
1.3
1.7
3.6
2.2
3.7
1.5
1.7
3.7
2.3
4.0
1.6
1.6
3.8
2.4
3.9
1.5
1.3
4.2
2.4
3.5
1.5
1.2
4.2
2.7
3.5
1.6
1.1
4.4
2.9
3.9
1.7
1.2
4.1
2.7
3.7
1.8
1.3
517
741
619
919
648
990
626
1,039
455
913
363
667
449
688
332
628
278
428
288
474
339
531
446
650
130
221
2,517
242
412
4,930
210
397
4,624
292
565
5,799
183
415
4,416
154
310
3, 947
141
200
2,763
63
179
2,084
54
100
1,120
74
114
726
143
180
1,398
493
550
3,222
2.29
2.25
2.39
2.31
"6.077
6,074
5,200
2,778
1,800
35, 666
do-_47, 991
Revised.
P Preliminary.
J See corresponding note, p. S-14.
H Production and
nonsupervisory workers.
CD 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.
§ For line-haul roads only.
A Earnings
in 1967 dollars reflect changes in purchasing power since 1967 by dividing by Consumer
Price Index. Effective Feb. 1976 SURVEY, data revised (back to 1967) in accordance with
the new seasonal adjustment methods for the CPI.
cfWages as of June 1, 1976: Common,
$8.96; skilled, $11.86.
r
2.66
2.63
2.81
2.64
'2.75
2.69
2.97
2.76
2 63
2.56
2 82
2.65
O See "O" note, bottom of p. S-14.
1972-74 appear in the Sept. 1975 SURVEY
*New series. US DA Quarterly Agricultural
for the week containing the 12th day of the quarter moiiti
workers, machinery operators, packing-house, maintenance
comparable data prior to 1974 are available.
174. 85
271. 36
284. 24
206. 74
225. 50
180. 85
252. 65
132. 38
199. 31
112.32
161.85
144. 52
SURVEY OF CURRENT BUSINESS
June 1976
1974
Unless otherwise stated in footnotes below, data
through 1972 and descript:ve notes are as shown
In the 1973 edition of BUSINESS STATISTICS
1976
1975
| 1975
Annual
S-17
May
Apr.
June
July
Aug.
Sept.
Nov.
Oct.
Jan.
Dec.
Feb.
Mar.
Apr.
p 4 366
p 3,917
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. $
2,568
4,917
5 647
5 202
4 892
4 979
4 576
18, 880
2,260
•p 24, 764
p 3, 967
2,041
4,775
1,749
4,281
1,832
3,878
2 202
3 861
P! 570
3,422
3.5
6.0
7 2
6 5
4 377
1 301.2
6.4
6 7
3 837
1,145.1
1,874
p 3, 356
5, 974. 9 Pl2,052.6
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 $
4 962 P 4 721
4 039
4 120
4 461
P! 520 P! 677
2 919
3 061
p 1 620
3 046
•p 2 324
3 410
3,408
P 3,023
58
5.1
58
4 4
4 6
6 5
6 3
6 1
6 1
58
3 208 p 2 952 P 2 489 j?2 306
3 437
984 0 1 086.9 P879 6 ^763 8 p 750. 4
46
5 4
p 2 349
» 671.8
5.6
5. 1
5.9
4 5
4 3
4 8
p2 685 r *>3 °07 r p3 203
P886 8 »l 018 7 P 946. 6
5.2
P4.6
4 2
M.2
51
P47
4 238
2,327
3,898
r
p 1,577
3,722
40
P44
43
40
40
43
43
44
44
48
48
53
52
377
71
65
P412
34
91
95
41
98
94
p36
101
p39
107
p30
109
p38
113
p34
117
p30
249.2
28
92
95
P 41
r> 100
v 101
v 38d. 2
30
94
101
31.5
30.0
29.0
69
10
153
27
6
27
22 2
4
20
18
18
89 5
5 5
4 2
3 9
P 101
p35 7
P 106
P32.7
P 113
*>40. 2
pl20
2 40. 9
p 111
P H6
?35.9
p 93
P 99
p33 0
Pl04
32.3
P 103
P32. 7
28
23
13
24
15
35
10
31
10
32
9
37
13
45
6
39
4
34
39
4 9
16 1
12 8
10 3
14 0
17 4
15 7
p 5
p 29
P 11 8
18, 677
48,858
37,377
6,072
31,305
11,481
19, 060
49, 927
37, 935
6,401
31, 534
11,992
105
17 3
FINANCE
BANKING
Open market paper outstanding, end of period:
Bankers' acceptances
mil. $
Commercial and financial co. paper, total
do
Financial companies
do
Dealer placed
do
Directly placed
do
Nonfinancial companies
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^
do
226 other SMSA's
do
Federal Reserve banks, condition, end of period:
Assets, tota!9
mil $
_
Deposits, total
_
Member-bank reserve balances
Federal Reserve notes In circulation
18, 727
47, 739
37, 564
6,239
31, 325
10, 175
18, 727
51,623
37,605
5,461
32,144
14, 018
18, 108
51,317
38,710
5,889
32,821
12, 607
17, 740
48,765
36,719
5,604
31,115
12,045
16, 930
49,352
37,281
6,018
31,263
12, 075
16, 456 16, 790 17, 304 17, 875 r 18, 727
49,810 r 48,257 r 50,394 r 49,512 47,690
37,817 ' 36,070 r 38,668 ' 38,392 ' 37,515
6,389
6,360
6,239
5,574
5,645
32,172 ' 30,496 r 32,308 r 32,003 ' 31,276
11, 993 12, 187 11, 726 11, 120 10, 175
27, 384
31, 741
29, 214
29, 575
29, 951
30, 421
30, 837
31, 072
31, 354
31,265
31, 741
32, 265
32, 751
33,400
13, 864
3,575
9,925
16, 564
3, 979
11,198
14,917
3,650
10, 646
15, 180
3,499
10, 895
15, 437
3,371
11, 143
15, 654
3, 520
11,247
15, 851
3,738
11, 248
16, 044
3,847
11,181
16, 247
4,087
10, 200
16, 380
4,041
10, 845
16, 564
3,979
11, 198
16, 746
4,356
11, 162
16, 930
4,546
11, 274
17, 264
4,656
11,480
22,705.7
10, 810. 3
11,895.4
4, 770. 6
7,124.9
Time, total 9 _
Individuals, partnerships, and corp.:
Savings
_.
Other time_ _
Loans (adjusted) , total d*
Commercial and industrial _.
For purchasing or carrying securities
To nonbank financial institutions
Real estate loans
Other loans
,_
Investments, total
U.S. Government securities, total.
Notes and bonds...
Other securities
120,344
119,844 118,432
123, 997 123,983 122,130 124,018 ' 126,528 "125, 030
90, 516
231
82, 546
11,598
95,208
283
86, 998
11, 599
96, 097
73
87, 184
11,599
95, 051
46
85, 137
11,599
99, 149
211
87, 934
11,599
99,504
66
89, 971
11, 599
122,628
116,755 115,687 112,587
113,672
120,344 119,844 118,432
123,997
123,983 122,130 124,018 ' 126,528 P125, 030
41,234
32, 028
71, 167
35,002
26,445
72, 280
32, 823
25, 976
73, 626
29, 470
25, 740
74, 207
29, 951
26, 484
74, 653
34,928
25,913
74, 599
35, 550
26, 140
74, 891
32, 125
25, 971
76, 683
34, 780
26, 052
78, 770
38,326
27,306
76, 516
36,172
24,585
76, 648
36, 395 ' 38,013
28, 150 ' 27,140
77, 686 78, 631
35, 134
35, 014
120
110
17
34,492
34,493
-1
60
-52
34, 976
34, 428
548
271
278
34, 655
34, 687
-32
261
276
34, 482
34, 265
217
211
44
34,646
34,447
199
396
-136
34, 567
34,411
156
191
30
34, 571
34, 281
290
61
257
34, 989
34, 727
262
127
148
35,575
35,366
209
79
139
33,953
33,939
14
76
-51
33,967 r 34,063 P34, 356
33,531 ' 33,974 33, 845
511
436
"89
121
44
58
401
386
'56
103,863 102,593 104,071 104, 146
104,320
112,124
103,742
93,780
24
85, 622
11, 620
do
113,611
123, 997
do
do
do
30, 649
25, 843
72, 259
34, 780
26, 052
78, 770
36, 941 i 34, 989
36, 602 i 34, 727
1262
*339
i 127
i 703
1
i 148
-333
92 929
?
561
84, 749
11, 620
98,419
52
88, 990
11,599
99,361 r 101,643 100, 782
397
'31
54
89, 753 91,814 90, 612
11, 599 11, 599 11, 598
35, 626
27, 115
79, 539
112, 124 102, 619
101,759 107,114
101,775
106, 097 104, 618 105, 183
do
do
_ do
do
do
185.215
129,449
7,039
1,471
31, 807
184, 174 164, 368
134, 245 115, 788
6,967
6,714
1,386
4,905
29, 322 23, 328
161,170 169,097 158, 966
117,375 121,565 115, 875
5,947
5,970
6,413
859
1,425
1,330
22, 513 24, 694 23, 360
165,445 167, 744 159, 299
120,411 119, 800 116, 182
6,198
6,496
5,808
1,243
1,070
1,247
24,635 25, 790 22, 104
167,015 184,174 159,545 157,115
121,317 132,245 116,670 115,133
6,220
6,061
6,967
5 860
1,995
1,898
1,386
2,425
22,262
21,251
29,
322
24,163
171, 058 162, 638 170, 817
122, 733 118, 064 124, 301
6,002
6,172 6,003
1,170
2,442
1,049
26, 516 21, 991 24, 883
do
228,045
227, 729 223, 520
225,929 223,211 222, 475
222,765 225, 264 224, 960 225,877 227,729 225,352 223, 215
225, 981 221, 616 222, 692
do
do
58, 485
122,201
68, 445
115, 961
62, 396 64, 644 65, 483 65, 392
113,639 113,594 112,922 113,218
65,246 65, 590 65, 928
114,625 116, 184 115, 442
67,550
116,064
68, 445 72,459 75, 269
115,961 111,153 107,629
78, 319 79, 349 79, 920
108, 296 104, 228 105, 280
do
do
_ do
do
do
do
304,318
131,875
7,713
33, 076
60, 442
9C, 388
285, 499
120, 661
8,933
27, 180
59, 530
87, 404
285,524 283,098 284,614 280, 762
125,349 122.801 122,326 120, 611
6,350
6,842
5,597
7,326
29, 549 29, 409 29, 978 29, 157
59, 385 59, 273 59, 209 59, 059
81,851 82, 124 83, 864 80, 820
279,313 281, 768 277, 957
118,946 119, 751 118, 190
6,530
7,040
6,605
29,164 29, 022 27, 312
58,967 59, 282 59, 502
82,680 84, 254 82, 267
2«2,104 285,499 275,908 275,242
119,300 120,661 117,000 116,201
7,389
6,200
8, 933
8.206
27,310 27, 180 25,995 26,029
59,482 59, 530 59,749 59,722
84,525 87,404 84,474 82,923
86, 825
23, 931
19,412
62. 894
100, 345
40, 178
26, 464
60. 167
88, 861
28, 524
23, 525
60. 337
do
.do..
do
do
89, 863
30, 163
24, 367
59. 700
92, 200
32, 021
24, 935
60. 179
' Revised. ( p Preliminary.
1 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-month period.
9 Includes
data not shown separately.
d^For demand deposits, the term "adjusted" denotes demand
deposits other than domestic commercial bank and U.S. Government, less cash items in
209=299 O - 76 - S3
25.524.9 '26,475.0 25,777.3
12,212.0 12,629.6 12,482.8
13,312.9 '13,845.4 13,294.5
5, 321. 1 '5,561.5 5, 282. 1
7, 991. 8 '8,283.9 8, 012. 4
113,672
98, 583
1,539
87, 846
11,620
Large commercial banks reporting to Federal Reservo System, Wed. nearest end of yr. or mo.:
Deposits:
Demand, adjustedcf
mil. $_. 109,981
23,269.4 23,181.9 24,137.1 24,067.7 23,565.1 23,845.0
10,628.8 10,585.0 11,801,5 11,529.9 10,970.9 11,517.7
12,640.5 12,596.9 12,336.6 12,537.8 12,594.2 12,327.3
5, 125. 1 5,153.0 4,921.3 4,937.3 4,932.5 4,789.0
7,515.4 7,443.8 7,414.3 7,600.5 7,661.8 7,538.3
89, 562
177
81, 883
11, 620
99, 149
211
87, 934
11, 599
1
1
r
r
122,628 116,755 115,687 112, 587
123, 997
89, 013
299
80, 501
11,652
All member banks of Federal Reserve System,
averages of daily figures:
Reserves held, total
__
mil. $
Required
_
do
Excess
do
Borrowings from Federal Reserve banks.. _ do
Free reserves
_
do
Demand, total?
.
Individuals, partnerships, and corp
State and local governments
U.S. Government
Domestic commercial banks
22,738.6 22,503.5 22,827.9
10, 826. 1 11,612.2 10, 709. 5
11,912.5 11,891.3 12,118.3
4, 852. 6 4,756.7 4,841.1
7,059.9 7,134.6 7,277.2
113,611
Reserve bank credit outstanding, total 9 _. do
Time loans
_
do
U.S. Government securities
do
Gold certificate account
do
Liabilities, total 9
18, 484
49,144
36, 450
4,611
31, 839
12 694
277, 356
114,612
8,468
26, 488
60, 530
84, 794
275, 499 280, 630
113, 365 112, 732
8,682 10,024
25, 779 26, 025
60, 727 61, 296
84,092 88, 083
92, 547 94,303 95, 624 95, 413 98.269 100,345 99,769 99,239 100, 563 101, 076 101,721
41, 808 41, 388 42,809
32, 160 34,288 35, 316 35, 010 37,859 40, 178 40,456 40, 083
28, 778 29, 402 29, 711
24, 764 25,239 25, 243 25, 988 26,580 26, 464 27,422 27, 643
58, 755 59, 688 58, 912
60. 387 60.015 60.308 60. 405 60.410 60. 167 59.313 59.156
process of collection; for loans, exclusive of loans to and Federal funds transactions with
domestic commercial banks and after deduction of valuation reserves (individual loan items
are shown gross; i.e., before deduction of valuation reserves).
OTotal SMSA's include
some cities and counties not designated as SMSA's.
H Includes Boston, Philadelphia,
Chicago, Detroit, San Francisco-Oakland, and Los Angeles-Long Beach.
SURVEY OF CURRENT BUSINESS
S-18
Unless otherwise stated in footnote
1974
below, data
in the 1973 edition of BUSINESS STATISTICS
1976
1975
1975
Annual
June 1976
Apr.
May
June
July
Sept.
Aug.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
730.5
498.9
88.3
143.3
733.5
498.5
91.3
143.7
737.6
500.6
93.0
144.0
5.50
5.50
i
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 investments©
Ml. $
LoansO
- do
U.S. Government securities
__ . do
Other securities
do
6 687. 1
5 498. 2
48.8
140.1
717.2
494.7
77.9
144.6
11.28
11. 12
11.83
8.65
8.37
8.91
8.16
7.88
8.37
8.22
8.00
8.43
8.29
7 99
8 53
7.54
7.14
7.93
11.27
11.01
11.07
11.15
8.54
9.01
8.75
8.86
8.00
8.70
8.34
8 33
8.12
8.41
8.28
8.45
8 15
8.70
8.37
8 67
7.50
7.86
7.56
7.77
Money and Interest rates: §
Dank ratos on short-term business loans:
In 35 centers
percent per annum
New York City
do
7 other northeast centers
do
8 north central centers
7 southeast centers
8 southwest centers
4 west coast centers
do
do
do
do
Discount rate (N.Y.F.R. Bank), end of year or
month. _ .
_ _ _
percent
Federal Intermediate credit bank loans
705.0
489.9
72.4
142.7
706.4
489.6
73.4
143.4
71C.4
490.7
75.6
144. 1
711.6
490.4
77.1
144. 1
715.0
494.1
75.1
145.8
721.3
498.0
76.3
147.0
717.2
494.7
77.9
144.6
720.5
495.4
80.2
144.9
725.2
496.2
84.4
144.6
6.00
6.25
6.00
6.00
6.00
6.00
6.00
6 00
6.00
6.00
5.00
5.50
5.50
8.82
18.14
8.48
8.25
7.92
7.71
7.62
7 59
7 62
7.62
7.62
7.67
7.58
7.54
1
1
9.01
9 21
8.96
9.11
8.90
9.04
8.96
9.05
8.89
9.08
8.89
9.13
8.94
9 13
9.01
9 17
9.01
9.30
9.01
9 28
8.99
9 27
8.93
9.23
8.93
9.12
8.94
9 05
26.29
26.32
26.15
28.02
6.15
6.15
5.97
7.66
5.76
5.82
5.74
7.42
5.70
5.79
5.53
7.15
6.40
6.44
6.01
7.30
6.74
6.70
6.39
7.84
6.83
6.86
6.53
8.06
6.28
6.48
6.43
8.22
5.79
5.91
5.79
7.76
5.72
5.97
5.86
7.64
5.08
5.27
5.15
7.55
4.99
5.23
5.09
7.40
5.18
5.37
5.27
7.38
5.03
5.23
5.13
7.38
5.53
5.54
5.38
6.88
7. 886
7. 81
25.838
27.55
5.694
7.76
5.315
7.49
5.193
7.26
6.164
7.72
6.463
8.12
6.383
8 22
6.081
7 80
5.468
7 51
5.504
7.50
4.961
7.18
4.852
7.18
5.047
7.25
4.878
6.99
5.185
7.35
166, 170
42, 431
5,113
4,854
166,833
46, 530
3,367
4,333
13, 592
3,747
285
341
13, 722
3,862
307
395
14,411
4,285
314
442
14, 994
4,495
320
446
14, 675
4,166
301
416
14, 447
4,153
313
420
15, 0?9
4 430
305
406
14, 085
3 756
298
343
17, 246
3,926
240
332
13, 907
3 601
202
304
13,116
3,739
222
340
16, 458
4,914
296
428
16, 361
4.740
272
454
17, 098
4,228
19, 567
4,214
1,507
361
1,464
335
1,566
328
1,669
357
1,664
345
1,758
358
1 741
362
1,642
304
2,338
446
1,948
408
1,559
371
1,874
398
1,841
410
Homo mortgage rates (conventional 1st mortgages):
New home purchase (U.S. avg.)
percent
Existing home purchase (U.S avg )
do
Yield on U.S. Government securities (taxable):
3-month hills (rate on new issue)
percent.
3-5 year Issues
.
__
do
702.0
492.8
68.2
141.0
7.75
1
do
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
699.1
495.0
64.0
140.1
1
8.92
1
9.02
29.89
9. 84
8.60
2
10. 98
2
2
2
2
CONSUMER CREDIT*
(Short- and Intermediate-term)
Installment credit extended and liquidated:
Unadjusted:
Extended, total 9--. . . .
mil. $
Automobile paper
do
Mobile home
do
Home improvement
do
Revolving:
Bank credit card
do
Bank check credit
do
Liquidated, total 9
Automobile paper Mobile home. _ _.
Home improvement
Revolving:
Bank credit card
Bank check credit
Seasonally adjusted:
Extended, total 9
Automobile paper
Mobile home
Home improvement
Revolving:
Bank credit card
Bank check credit
Liquidated total 9
Automobile paper
Mobile home
Home improvement
Revolving:
Bank credit card
Bank check credit
...
do
do
do
do
156,346
42, 496
4,287
3,908
163, 113
45, 110
3,986
4,434
13, 765
3,852
342
385
13,442
3,733
349
367
13, 538
3,810
333
377
13,858
3,860
357
376
13, 329
3,709
330
360
13, 491
3,846
329
378
14, 359
3,996
353
404
13, 725
3,562
295
356
14, 628
3,776
337
393
14,980
3,911
311
342
13, 768
3,539
318
349
15, 930
4,316
362
415
14. 747
3,798
327
421
.
do
do
15, 653
3,685
18, 769
4,128
1,486
355
1,469
365
1,493
338
1,596
333
1,492
317
1,603
325
1,705
354
1,591
316
1,761
384
1,876
380
1,722
370
2,020
434
1,724
404
do
do
do
do
13, 168
3,477
271
320
12, 993
3,555
274
343
13, 620
3 753
270
379
14, 322
4,124
308
395
14, 427
4,032
293
363
14, 555
4,235
305
388
14 832
4,189
279
392
14, 877
4,218
330
409
15, 295
4,405
291
418
16, 205
4,511
288
459
15,824
4,378
282
429
16, 318
4,537
311
421
15, 775
4,438
259
430
do
do
1,554
347
1,517
340
1,606
327
1,618
346
1,689
353
1,737
350
1,698
357
1,752
348
1,719
412
1,840
397
1,931
407
2,046
390
1,907
405
do
do
do
do
13, 408
3 746
331
377
13, 359
3 718
331
363
13,412
3 751
321
368
13, 436
3 741
357
357
13, 790
3 818
328
367
13, 795
3 849
333
369
14, 002
3 800
348
398
14, 073
3 814
311
371
14,403
3,865
364
395
14,910
4,023
342
353
14,656
3,746
346
372
14, 805
3,883
C
327
398
14, 339
3,728
319
412
do
do
1,512
337
1, 508
364
1,504
340
1,548
331
1,576
341
1,631
336
1,619
340
1,723
346
1,768
399
1,733
374
1,798
388
1,822
378
1,773
373
.
.
Total installment credit outstanding, end of year or
month 9
mil $
By credit type:
Automobile
do
Mobile home
do
Home improvement
do
Revolving:
Bank credit card
do '
Bank check credit
do
158, 101
161,819 153, 131 153, 411 154, 283 155,419 156, 765 157,720 158, 390 159, 200 161,819 160,745 160, 094 160, 621 162, 236
52, 209
12, 542
8 398
53, 629
11, 924
8 301
50, 849
12, 208
8,108
50, 978
12, 166
8,136
51,453
12, 147
8,202
52, 088
12, 109
8,272
52, 545
12, 081
8,329
53, 852
12, 065
8,372
53, 286
12,017
8 374
53, 479
12,021
8,361
53, 629
11,924
8,301
53, 318
11,815
8,263
53, 519
11,719
8,254
54, 117
11,653
8,267
55, 059
11,597
8,300
8 281
2,797
9 078
2 883
7 947
2,781
7 942
2,751
8 015
2,741
8,088
2,765
8,259
2,793
8,414
2, 826
8 450
2 834
8,500
2,822
9,078
2,883
9,150
2,911
8,987
2,912
8,842
2,876
8,959
2,882
By holder:
75 710 73 350 73 345 73 687
Commercial banks
do
75 846
38 932 37 746 37 711 37, 828
Finance companies
do
38 925
22, 116
25, 354 22, 415 22, 674 23, 186
Credit unions. .
do
Retailers
do
18 328 16, 229 16, 238 16, 079
17, 933
Others
.
do .
3,391
3,443
3,503
3.281
3. 495
r
Revised.
v Preliminary.
1
3
Average for year.
2 Daily average.
Beginning Jan. 1973, data reflect changes in
sampling and weighing.
* Beginning June 30, 1974, data revised to include one large mutual savings bank that merged with a nonmmember commercial bank. Total loans and investments were increased by about $600 million of which $500 million were in loans and $100 million
in ''other securities."
« Beginning Aug. 28,1974, loans sold outright to banks' affiliates reflect a new definition of the group of affiliates included, and a somewhat different group cf
reporting banks; total loans were $500 million less than they would have been on the old basis.
74, 232 74, 701 75, 024 75 286 75, 174 75, 710 75, 342 75, 010 75, 103 76, 103
38, 177 38, 340 38, 375 38 411 38, 642 38, 932 38, 737 38, 660 38, 665 39, 003
23, 507 24, 043 24,510 24, 706 24, 934 25, 354 25, 250 25, 492 26, 025 26, 403
15, 963 16, 172 16, 232 16,444 16, 860 18, 328 17,771 17, 192 16, 987 17, 060
3,841
3,757
3,740
3,645
3,495
3,560
3,509
3, 579
3,543
3,540
O Adjusted to exclude interbank loans.
§ For bond yields, see p. S-21.
jBeginning
Jan. 1959, monthly data have been revised to reflect new seasonal factors and adjustment to
bench marks for the latest call date (June 30, 1973). Revisions are in the Nov. 1973 Federal
Reserve Bulletin.
9 Includes data for items not shown separately.
J Data have been
revised back to 1971, noninstallment credit will no longer be available on a monthly basis.
"Personal loans" and ''other consumer goods paper" have been combined to form an "all
other" category (not shown separately here). Earlier monthly data are available from the
c
Federal Reserve Board, Washington, D.C. 20551.
Corrected.
June 1976
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
1974
1976
1975
1975
Annual
S-19
Apr.
June
May
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
FINANCE—Continued
FEDERAL G O V E R N M E N T FINANCE
Budget receipts and outlays:
Receipts (net)
Outlays (net)
Budget surplus or deficit ( — )
...mil. $... i 264,932
do
i 268,392
do
i -3,460
Budget financing, total
Borrowing from the public
Reduction in cash balances
do
do
do
Gross amount of debt outstanding
Held by the public
do
do
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
1
280, 997
1
324, 601
1
-43,604
31, 451 12, 793
29, 601 28, 186
1,850 -15,394
i1 3, 460 1 43, 604 -1,850
3, 009 i 50, 853
7,485
1451 !-7,249
9,335
15, 394
8,556
6,838
31,817
30,296
1,521
20, 197
31, 249
11, 052
-1,521 -11,052
567
7,800
-2,088 3, 252
23, 584
30, 634
-7,050
28, 615 19,316 21, 745 25, 995 25, 634 20, 845 20, 431
29, 044 32, 425 29, 401 31,792 30, 725 29, 833 29, 054
-429 -13, 109 7 656 -5,797 -5,091 -8, 987 -8, 623
7,050
429
8,463
7,189
139 -8, 034
13, 109
11,743
1,366
5,091
5, 797
7,656
7,820
8,215
5,936
1,720 -2, 418 -2, 729
8,987
8,972
15
8,623
7,320
1,303
i1486,247 11 544, 131 527, 744 539, 157 544,131 549, 157 558, 637 564, 582 572, 930 577, 726 587, 553 595, 306 604, 778 611,391
346,053 396, 906 387, 783 396, 339 396, 906 404, 707 411,895 420, 358 432, 102 438, 037 446, 253 454, 072 463, 045 470, 365
1
264,932
1
118,952
1
38, 620
1
280, 997
1
122, 386
1 40, 621
31,451 12, 793
16,065 -1,630
5,093
1,174
31,817
13,123
9,578
20, 197
9,615
1,367
23, 584
10, 403
620
28, 615
13, 609
6,013
19,316
10, 653
873
21,745
10, 354
673
25, 995
11,200
6,530
25, 634
15, 276
1,533
20, 845
7,778
781
20, 431
5, 272
5,863
i1 76, 780 1 86, 441
30, 582 i 31, 549
8,126
2,168
10, 588
2,661
6,431
2,685
6,128
3,087
9,713
2,849
6,280
2,712
5,206
2,583
7,994
2,725
5,565
2,700
6,430
2,376
9,630
2,655
6,635
2,660
1 324,
601
1
9, 725
i 85, 420
29, 601
1,029
6, 989
28, 186
890
7,627
30,296
1,161
7,216
31, 249
1,038
7,103
30, 634
958
7,553
29, 044
1,201
6,877
32, 425
1, 119
7,911
29, 401
637
7,019
31,792
1,404
7,458
30, 725
1,372
7,270
29, 833
1,309
6, 792
29, 054
535
7,442
1112,411
i 141, 177
3, 267
1
16,575
10, 130
4,459
287
1,505
9,680
2,802
301
1,462
9,916
4,576
185
1,407
10, 150
4,289
368
1,364
10, 152
2, 885
310
1,449
10, 414
2,954
313
1,333
10, 574
4,756
312
1,515
10, 502
3,200
325
1,623
10, 890
3,427
326
1, 699
10, 782
4, 249
260
1,627
10, 760
3,309
291
1,690
11, 628
3,618
307
1,674
268,392
Outiavs total 9
do
1
9, 767
Agriculture Department
do
i 77, 625
Defense Department, m i l i t a r y
do
Health, Education, and Welfare Department
mil. $.. 1i 93, 375
35, 993
Treasury Department
do
1
3, 252
National Aeronautics and Space A dm
do
1
13, 337
Veterans Administration
do
Receipts and expenditures (national income and
product accounts basis), qtrly. totals seas. adj.
at annual rates-f
Federal Government receipts, total f
bll. $__
288.4
282.3
250 1
293.3
302.1
' 312.7
Personal tax and nontax receipts
do
Corporate profit tax accruals
do
Indirect business tax and n o n t a x accruals. do
Contributions for social insurance
do
131.4
45.9
21.7
89.4
125.6
39.0
24 2
93^5
99
35
23
91
3
5
5
9
130.5
43.4
25.5
93.9
135.2
45.0
25.4
96.4
P137.8
Federal Government expenditures, totalf..do
300.1
356.9
352 3
363.8
374.2
381.3
131.1
"87.0
Purchases of goods and services
National defense
do
do
Transfer payments
do
Grants-in-aid to State and local govts
do
Net interest pnid
do
Subsidies less current surplus of government
enterprises
bil $
r 49.1
23.0
* 102. 8
111.7
77.4
123.2
84.0
119 2
82 1
124.2
84.9
129.9
87.4
117.7
43.9
21.0
149 2
54.3
23.4
150.5
52 8
22 6
152.5
56.8
23.4
154.5
57.4
25 3
160.2
58.7
»26. 1
p51
5.2
6.8
71
6.9
7.0
do
-.5
.0
o
.0
.0
do
-11.7
—74 6
— 102 2
263. 35
11. 96
118. 57
86. 23
79. 91
289. 08
14.58
135. 01
89.36
82.60
273. 52
12.37
1 26. 26
87.64
81.13
275. 82
12.46
127. 85
87.88
81.34
278. 34
12.56
129. 84
88.04
81.46
279. 35
12.81
130. 30
88.16
81.57
280. 48
13. 02
130.66
88. 33
81.71
281. 85
13. 15
131. 52
88.45
81.80
284. 83
13.79
133. 24
88.66
81.98
286. 98
14.13
134. 50
88.85
82.16
289. 08
14.58
135.01
89. 36
82.60
293. 87
15.38
138.96
89.40
82.65
296. 48
16.14
140. 33
89.54
82.76
299. 55
17.25
141. 58
89.78
82.95
8.33
22.86
2.00
13. 39
9.63
24.39
1.90
14.21
8.78
23.33
1.48
13.53
8.84
23.57
1.50
13.71
8.99
23.68
1.49
13.75
9.06
23. 79
1.40
13.83
9.11
23.92
1.46
13. 99
9.01
24.05
1.49
13.98
9.36
24.17
1.46
14.16
9.46
24.27
1.45
14.32
9.63
24. 39
1.90
14.21
9.66
24.50
1.42
14. 55
9.73
24.63
1.37
14.73
9.81
24.76
1.49
14.89
Life Insurance Agency Management Association:
Insurnnco written (new paid-!or insurance):
Value, estimated total..
.
. mil. $ 2 297,051 s 288,857
Ordinary (incl. mass-marketed ord.)....do.._ 181, 276 3185, 779
Group _
do
2 109,095
96, 349
Industriaf
do
6,680
6,729
23,417
15, 923
6, 928
566
24, 457
15, 384
8,410
663
23, 767
15, 707
7,476
584
22, 237 3 23, 802
15, 396 314, 935
6, 279
8, 264
562
603
23, 988
15, 573
7, 907
508
24, 949
7^121
586
23, 316
15, 461
7,273
582
35,317
18, 788
16, 025
504
23, 258
14, 008
8,758
492
23,014
15, 560
6, 908
546
27, 983
18, 220
9,161
602
25,325
17,725
7,066
544
11, 599
93
45S 853
456, 638
11,620
0
67, 117
27, 714
11,620
0
20, 753
16, 562
11,620
15
38, 627
18, 359
11,618
0
27,117
18, 152
11,599
0
54, 603
12,916
11,599
8
10,883
44, 954
11, 599
44
16,370
22, 266
11,599
6
12, 193
24, 409
11,599
0
22, 469
26, 895
11,599
76
9,943
17, 769
11,599
3
28, 046
19, 472
11, 599
6
5,789
19,344
15,598
3
1, 038. 3
70.9
960.9
68.7
80.6
5.9
79.4
6.6
81.9
5.1
82.8
6.1
82. 8
5.3
84.4
6.3
81.5
6.2
82.3
5.0
72.6
5.7
76.4
6.2
75.6
5.6
79.4
thous. $.
81,651
do
501,521
dol. per fine oz..
4.708
132, 626
320, 556
4,419
11, 173
28, 586
4.209
11,954
31, 440
4.538
5,029
28, 368
4. 489
37, 820
22, 148
4.704
9,465
25, 222
4.925
4,975
27, 980
4. 516
4, 792
33, 014
4.329
5,161
18, ?89
4.332
3,813
31,116
4.085
2,942
27, 967
4.063
4,338
18,638
4.086
11,541
27, 619
4.189
c9 coo
36, 627
Less* Wage accruals less disbursements
Surplus or deficit ( — )
.0
72.1
-70.5
r -68.
6
LIFE INSURANCE
Institute of Life Insurance:
Assets, total, all U.S. life insurance cos
Government securities
Corporate securities
Mortgage loans total
Nonfarm
Real estate
Policy loans and premium notes
Cash
Other assets
bil.$.
do
do
do
do
do
do
do
do
M O N E T A R Y STATISTICS
Gold and silver:
Gold:
Monetary stock, U.S. (end of period).. .mil. $_. 11,652
Net release from earmark§
do
230
Exports
thous $
228, 480
Imports
do
396, 679
Production: f
South Africa
Canada
Silver:
Exports
Imports
._
Price at New York
Production:
United States
mil $
do
_thous. fine oz..,
T
Revised.
* Preliminary.
1 Data shown in 1974 and L975 annu al colum ns are f or
fiscal years ending June 30 of the respective years; they incl ude revisi ons not clistributtid
3
to months.
2 includes $907 mil. Vets group life ins.
Inclu des $1,694 mil. Vet 3 group li fe
2,132
4.356 ~ ~ 4 ~ 488"
2,415
1,874
2,864
1,084
6,716
3,482
3 193
3,010
1,926
tData 1:lave beeri revised back to
ins.
9 Inchides dateL for item s not she wn sepa rately.
§ 0 r i ncrease iii earmar ted gold
1946 ( see table 3. 2 in the, Jan. 1976 SURVEYf for earli er data).
HValuec1 at $38 per f ine oun ce from Jan. 1972-Sept . 1973; at $42.2I thereafter.
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
1975
1974
1975
Apr.
Annual
June 1976
May
June
July
Aug.
1976
Sept.
Oct.
Nov.
Dec,
Jan.
Feb.
Mar.
Apr.
May
FINANCE—Continued
MONETARY STATISTICS— Continued
bil. $..
79.7
86.5
78.4
79.8
81.2
81.5
Money supply and related data (avg. of daily fig.) :©
Unadjusted for seasonal variation:
Total money supply
bil. $
Currency outside banks
do
Demand deposits
do
Time deposits adjusted^,
do
U.S. Government demand deposits^
do...
277.8
64.9
212.8
397.0
5.6
289.5
71.0
218.5
436.1
3.7
286.5
69.1
217 A
430.4
4.0
282.9
70.0
212.9
433.2
4.1
290.3
71.2
219.1
435.5
4.2
292.1
71.9
220.3
436.9
3.4
290.0 291.7 ' 292. 3 r 297. 4 ' 303. 2 ' 301. 0 ' 292. 9 ' 295. 2 T 303. 3 "298. 2
72.1
71.9
72.5
73.9 '75.1 '73.8 '74.1
75.1
76.3
77.1
217.8 219.9 219.9 ' 223. 5 r 228. 1 ' 227. 2 ' 218. 8 ' 220. 1 r' 227. 0 221.1
438.4 " 440. 4 ' 444. 5 r 445. 6 ' 449. 6 ' 452. 8 ' 455. 5 ' 459. 9 462. 8 464.6
3.9
3.5
3.8
2.7
3.4
'4.1
-3.9
'4.6
'3.8
3.7
284.9
69.5
215.4
430.1
287.6
70.2
217.4
431.2
291.0
71.0
220.0
435.5
291.9
71.3
220.6
437.6
293.2
71.9
221.3
436.2
293.6 293.4 - 295. 6 ' 294. 8 ' 295. 1 ' 296. 5 ' 298. 0
73.4
74.2 '75.1
73.7
72.0
72.6
75.7
221.6 220.8 rr 222. 1 ' 221. 0 ' 220. 8 r 221. 5 ' 222. 3
438.3 ' 443. 3 448. 3 ' 452. 4 ' 454. 4 ' 457. 3 ' 458. 5
127.5
330.3
81.8
114.3
68.8
128.9
333.9
82.8
120.1
68.2
124.4
328.6
80.0
114.2
66.7
126.2
331.0
81.6
115.7
68.2
130.4
335.0
86.2
124.4
71.2
128.8
330.7
85.1
123.8
70.0
Currency in circulation (end of period)
Adjusted for seasonal variation:
Total money supply
Currency outside banks
Demand deposits
Time deposits adjusted^
do
do
do
do
Turnover of demand deposits except interbank and
U.S. Qovt., annual rates, seas, adjusted:
Total (233 SMSA's) O. .ratio of debits to deposits..
New York SMSA
do
Total 232 SMSA's (except N.Y.)
do _
6 other leading SMSA'stf
do
226 other SMSA's
do
128.3
335.0
82.9
119.1
68.8
120.1
290.9
81.9
123.6
65.8
81.9
81.7
82.3
134.0
364.0
83.5
118.7
69.8
84.5
134.0
360.8
84.9
119.5
71.5
86.5
131.0
351.8
84.7
118.4
71.6
83.2
132.4
366.0
82.9
115.4
70.3
83.8
140.9
375.4
89.6
128.0
74.6
85.5
144.6
377.5
92.5
131.4
77.2
86.5
r
r
r
301. 7
-76.7
225. 0
461. 6
P303. 1
77.3
225.8
462.0
140.3
374.9
88.4
124.1
74.3
PROFITS AND DIVIDENDS (QTRLY.)§
Manufacturing corps. (Fed Trade Comm.):
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
58, 747 ' 49, 135
5,154
4,601
"409
780
2,287
7,175
Petroleum and coal products.. .
do
214,483
Stone, clay, and glass products
do
1,204
Primary nonferrous metal.. .
do
2,035
Primary iron and steel
_
do
3,149
Fabricated metal products (except ordnance,
2,837
machinery, and transport, equip.)
mil $
Machinery (except electrical)
do
Elec. machinery, equip., and supplies
do
Transportation equipment (except motor
vehicles, etc.)
mil $
Motor vehicles and equipment
do
All other manu facturing industries
do
Dividends paid (cash) , all industries
do
" 12 442
1,315
r
38
" 13,204
1,561
"185
' 14 227
1,358
' 255
14, 797
1,263
253
1,801
' 6, 703
r
429
1, 747
45l
" 1, 731
547
' 1 731
563
1,952
' 9, 307
••968
"663
"2,280
" 2, 190
"253
"190
••531
" 2, 508
'424
"104
M59
'2,764
'309
'119
'537
2 846
138
180
454
2,523
'695
"715
'624
760
" 1, 632
"648
" 1,r 543
588
' 1, 727
'780
1,795
768
5,648
2,940
r
1,127
1,957
8,524
" 1, 039
1,737
"7,481
375
565
" 1, 834
"361
380
" 2, 195
'288
888
' 2, 300
369
1,393
2,062
19, 467 " 19, 968
" 5, 106
" 4, 662
' 5, 303
5,188
" 6, 311
2 564
r
SECURITIES ISSUED
Securities and Exchange Commission:
Estimated gross proceeds, total _
By type of security:
Bonds and notes, Corporate
Common stock
Preferred stock
By type of issuer:
Corporate, total 9
Manufacturing
Extractive (mining)
Public utility
..
.
.
__
Transportation.
Communication .
Financial and real estate
Noncorporate, total 9
U.S. Government
State and municipal
State and municipal issues (Bond Buyer):
Long-term
Short-term
mil. $
3 40, 009
56, 151
4,477
5,979
5,755
4,542
2,364
2,845
4,609
4,768
4,418
3,492
do
31, 496
41, 740
3,154
4,164
4,401
3, 650
1,818
1,774
3,052
3,240
3,447
2,570
do. .
do
4,000
2,254
7,4-26
3,458
751
349
1,154
346
775
230
459
198
434
129
'529
308
1,215
332
343
'444
335
462
431
139
mil. $
do
do
do
37, 842
10, 026
980
12, 831
52, 624
18,767
1,631
15,888
4,417
1,722
209
1,408
5,512
2,479
159
1,548
5,380
2,303
132
1,479
4,126
1,137
292
1,032
2,364
701
77
1,024
2,597
624
39
1,261
4,512
901
80
1,238
4,044
1,115
54
1,268
4,244
1,414
249
902
3,140
1,007
68
1,083
1,014
3,934
6,850
2,643
4,463
6,791
59
563
163
281
413
409
186
362
643
254
269
1,071
0
113
323
32
296
289
518
928
450
957
55
500
269
231
761
213
15
449
22, 824
29,041
29, 326
28, 973
2,263
3,094
2,532
3,801
3,001
2,699
3,434
1,691
2,690
1,377
2,112
2,427
2,276
2,623
2,338
2,066
2,154
1,828
2,389
936
2,638 ' 3, 234 2,204
1,488 ' 2, 437 2,533
6,266
5,446
820
6,197
5,365
832
6,251
5, 399
852
6,455
5,448
1,007
6,527
5,519
1,008
6,500
5,540
960
6,568
5,568
1,000
7,152
6,115
1,037
do
do
do
do
do. .
do
do
do
3,453
2,316
SECURITY MARKETS
Stock Market Customer Financing
Margin credit at brokers and banks, end of month, 1
total
mil. $
4, 836
6,500 5,327 5,666 5,984
1
At brokers
_
do
3, 980 5,540 4,503 4,847 5,140
At banks
do
!856
824
819
960
844
Other security credit at banks
do
Free credit balances at brokers:
Margin accounts. __
do
1411
505
475
520
520
1
C ash accounts _ . .
do
1, 424
1,525 1,790
1,705
1,790
' Revised.
v Preliminary.
1 End of year.
2 prior to fourth quarter 1973,
for petro3
leum refining only; data are not comparable with those for earlier periods.
Beginning
Jan. 1974, does not include noncorporate bonds and notes formerly included.
©Effective
February 1976 SURVEY, data revised to refect: Annual review of seasonal factors; regular
benchrrark adjustment; effect of charges in check collection procedures (Regulation J);
and adjustments to include new figures from internationally oriented banking institutions.
Monthly revisions back to 1970 are in the Feb. 1976 Federal Reserve Bulletin.
T At all commercial banks.
470
555
515
545
490
475
655
685
650
1,710
1,500 1,455 1,495 1,470 1.525 1.975 2.065 1.935
OTotal SMSA's include some cities and counties not designated as SMSA's.
^Includes Boston, Philadelphia Chicago, Detroit, San Francisco-Oakland and Los
Angeles-Long Beach.
§ Beginning fourth quarter 1973, because of changes in method of
consolidation (to minimize the effect of foreign operations of multinational enterprises), data
are not comparable with those for earlier periods. The effect of the change can be assessed by
comparing the data as originally published for the fourth quarter 1973 (June 1974 SURVEY)
with the revised data.
9 Includes data not shown separately.
SURVEY OF CURRENT BUSINESS
June 1976
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown
in the 1973 edition of BUSINESS STATISTICS
1974
1975
Annual
S-21
1976
1975
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 erade corporate:
Composited*
dol per $100 bond
Domestic municipal (15 bonds).. . _ do
U.S. Treasury bonds, taxablel
do._.
Sales:
Total, excl. U.S Government bonds (SEC):
All registered exchanges:
Market value
.
mil. $
Face value
do
New York Stock Exchange:
Market value
Face value
.
do
do.
58.8
76.1
56.2
68.9
55. 8
69.4
56.6
69.6
56.7
69.8
56.6
68.5
55.6
68.3
55.8
66.0
56.0
66.0
56.3
66.2
56.1
67.4
57.0
69.7
57.1
68.8
57.3
69.2
58.2
71.3
56.5
69.1
57.45
57.44
57.05
57.40
58.33
58.09
56.84
55.23
55.23
55.77
56.03
55.75
57.86
58.23
59.33
57.38
9,345.90 790. 03
10,703.85 891.57
753. 75
892. 55
810. 14
919. 28
808. 39
938. 49
634.83
709. 89
613. 63 962. 53 757. 15
685. 94 1, 014. 65 834. 21
890.01
999.20
6, 193. 81 9,070.20 768. 72
7, 740. 56 10,302.08 858. 08
728. 55
855. 32
783. 46
883. 08
784. 10
904.23
621.81
690. 36
600.41
665. 98
934. 93
982. 14
741. 19
812. 29
856. 23
949. 84
473. 81
449. 34
487. 41
478. 39
343. 37
340. 74
416. 62
341. 97
419. 45
570. 68
504.74
491.60
424. 66
420. 88
9.49
9.55
9.45
9.43
9.51
9.55
9.51
9.44
9.45
9.33
9.23
9.18
9.04
9.06
8.40
8.67
9.26
9.83
8.58
6,456.77
8, 120. 18
New York Stock Exchange, exclusive of some
stopped sales, face vaiue, total
mil. $. 4, 052. 12 5, 178. 34
Yields:
Domestic corporate (Moody's)
By rating:
Aaa
Aa _
A
Baa
0)
percent
8.98
do
do
do
do
8.57
8.67
9.16
9.50
8.83
8.97
9.65
10.39
8.95
9.02
9.63
10.34
8.90
9.04
9.79
10.46
8.77
8.94
9.67
10.40
8.84
8.94
9.63
10.33
8.95
9.03
9.70
10.35
8.95
9.10
9.74
10.38
8.86
9.06
9.74
10.37
8.78
8.97
9.67
10.33
8.79
8.99
9.68
10.35
8.60
8.90
9.57
10.24
8.55
8.80
9.47
10.10
8.52
8.76
9.42
9.99
do
do
do
8.78
9.27
8.98
9.25
9.88
9.39
9.30
9.88
9.39
9.37
9.93
9.49
9.29
9.81
9.40
9.26
9.81
9.37
9.29
9.93
9.41
9.35
9.98
9.42
9.32
9.94
9.40
9.27
9.83
9.36
9.26
9.87
9.37
9.16
9.68
9.32
9.12
9.50
9.25
9.10
9.43
9.16
8.98
9.27
9.05
Domestic municipal:
Bond Buyer (20 bondsK _.
Standard & Poor's Corp. (15 bonds)
do
do
6.26
6.09
7.08
6.89
6.95
6.83
7.09
6.81
6.96
6.76
7.09
6.94
7.18
7.02
7.67
7.23
7.36
7.22
7.39
7.21
7.29
7.06
6.85
6.80
6.98
6.91
6.69
6.86
6.55
6.62
6.89
6.87
U.S. Treasury bonds, taxable O
do
6.99
6.98
7.03
6.99
6.86
6.89
7.06
7.29
7.29
7.21
7.17
6.94
6.92
6.87
6.73
6.99
10.63
11.82
4.83
4.27
8.09
10.49
11.43
4.96
4.58
8. 50
13.56
10.42
11.34
4.96
4.46
8.50
13.56
10.49
11.52
4.96
4.42
8.50
13.56
10.47
11.51
4.97
4.14
8.50
13.56
10.47
11.49
4.97
4.14
8.50
13.56
0)
do
do
do
do
220. 35
270. 42
48.26
77.16
234. 59
290. 62
46.99
82.55
244. 75
304. 66
49.62
80.80
251. 22
312. 67
55.06
82.96
234. 44
291. 42
51.58
76.11
230. 57
288. 52
51.33
74.34
0)
percent
do
4.82
4.37
10.01
5.53
4.01
5.14
4.47
3.93
10.56
5.55
3.99
4.94
4.26
3.72
10.00
5.52
3.96
4.35
4.18
3.68
9.01
5.33
3.67
4.20
4.47
3.95
9.64
5.44
4.06
4.63
4.47
3.98
9.68
5.57
4.36
4.83
0)
8.07
8.04
8.06
301.60 302. 68
988.55 '992. 51
87.15
86.88
207. 80 '208. 39
304.50
988. 82
86.66
215. 71
By group:
Industrials
Public utilities.
Railroads
_ ..
9.46
9.76
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
Price per share, end of mo., composite
Industrials
.
Public utilities
Railroads. __ _
Yields, composite
Industrials..
.
.
Railroads
.
N.Y. banks
_ _
Property and casualty insurance cos
do
do
do
Earnings per share (indust., qtrly. at ann. rate;
pub. util. and RR., for 12 mo. ending each qtr.) :
Industrials
dollars
Public utilities
do
Railroads
do
Dividend yields, preferred stocks, 10 high-grade
(Standard <fe Poor's Corp.)
percent..
Prices:
Dow- Jones averages (65 stocks)
Industrial (30 stocks)
Public utility (15 stocks)
Transportation (20 stocks)..
Standard & Poor's Corporation :d"
Industrial, public utility, and railroad:
Combined index (500 stocks)
1941-43 = 10
Industrial, total (425 stocks) 9 .
Capital goods (110 stocks)... _
Consumors' goods (184 stocks)
Public utilitv (60 stocks)
Railroad (15 stocks)
Banks:
New York City (9 stocks)
Outside New York City (16 stocks)
27.69
7.63
9.81
22.91
7.80
• 7.45
8.24
8.36
8.27
8.51
8.34
8.24
8.41
8.56
8.58
8.50
8.46
8.16
8.00
237. 33
759. 37
75.84
164. 05
247. 25
802. 49
79.81
163. 39
244. 32
790. 93
75.77
166. 35
254. 71
836. 56
77.29
169. 69
259. 00
845. 70
83.87
168. 40
260. 30
856. 28
82.68
167. 98
246. 22
815. 51
77.92
156. 32
246. 02
818. 28
77.32
155. 11
253. 38
831. 26
80.99
164. 17
259. 28
845. 51
82.94
170. 59
256. 42
840.80
81.60
166.84
285. 28
929. 34
89.17
190. 80
297. 84
971.70
89.27
203. 17
82.84
86.16
84.72
90.10
92.40
92.49
85.71
84.67
88.57
90.07
88.70
96.86
100.64
101.08
101. 93
101. 16
do
do
do .
do
do
92.91
92.84
78.08
38.91
37.29
96.56
94.63
81.18
41.17
37.48
95.27
96.76
80.75
38.19
38.55
101. 56
101. 98
85.15
39.69
38.90
103. 68
101. 15
85. 98
43.67
38.94
103. 84
101.15
86.58
43.67
38.04
96.21
93.05
78.29
40.61
35.13
94.96
93.61
77.25
40.53
34.93
99.29
95.77
83.07
42.59
36.92
100. 86
97.35
88.01
43.77
37.81
99.31
96.41
85.66
43.25
37.07
108. 45
108. 41
91.03
46.99
41.42
112.96
116.68
93.47
47.22
43.40
113.73
117.30
94.64
45.67
44.54
114. 67
115.86
94.39
46.07
44.91
113.76
115.09
91.67
45.69
46.09
do
do..._
54.16
83.89
51.48
80.52
54. 75
79.64
57.17
83.76
57.77
87.19
58.13
90.44
51.33
83.01
46.72
78.64
44.84
79.21
45.56
80.01
44.87
77.73
48.69
85.40
52.23
93.38
52.34
95.56
54.42
99.93
53.06
98.87
99.56
93.75
97.83 100.69 100.97
95.98
85.19
79.71
88.23
92.70
0 years o r more .
able
in
1
ue
or
cal
d
assume d 3 percent 20-yea r bon 1.
O Fo r bonds
e
Corn3Cted.
9lnc ludes da ta not sh own sepa rately.
92.36
Property-liability insurance (16 stocks)_.do
84.15
88.72
84.76
96.72
94.63
••Revised.
v Preliminary.
'Estimate.
» S<iries disco ntinued b y Source
d" Number of issues represents number currently used; the change i i numb* r does n ot
affect continuity of the series. fl Prices are deriv
iverage yi elds on Dasis of an
0)
June 1976
SUEVEY OF CURRENT BUSINESS
S-22
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown
in the 1973 edition of BUSINESS STATISTICS
1974
| 1975
Annual
1976
1975
Apr.
May
June
Aug.
July
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
FINANCE—Continued
SECURITY MARKETS— Continued
Stocks—Continued
Prices — Continued
New York Block Exchange common stock indexes:
Composite
12/31/65=50—
Industrial
do
Transportation
do
Utility
do
Finance
do
43.84
48.08
31.89
29.79
49.67
Sales:
Total on all registered exchanges (SEC):
118,434
Market value
mil. $
Shares sold
millions
4,846
On New York Stock Exchange:
Market value__ _ _ _ _ _ _
_ .
mil. $
99, 178
Shares sold (cleared or settled)
millions. . 3,822
New York Stock Exchange:
Exclusive of odd-lot and stopped stock sales
(sales effected)
millions. . 3,518
Shares listed, N.Y. Stock Exchange, end of period:
Market value, all listed shares
bil. $
Number of shares listed
.
millions
511. 06
21, 737
45.73
50.52
31. 10
31.50
47.14
44.91
49.74
31.70
30.01
47.35
47.76
53.22
32.28
31.02
50.06
49.22
54.61
32.38
32.79
52.20
49.54
54.96
32.90
32.98
52.51
45. 71
50 71
30. 08
31.02
46. 55
44.97
50.05
29.46
30.65
43.38
46.87
52.26
30. 79
3L87
44. 36
47.64
52.91
32. 09
32.99
45. 10
46.78
51.89
31. 61
32. 75
43.86
51.31
57.00
35.78
35.23
48.83
53. 73
59.79
38.53
36.12
52.06
156,959
6,216
14,585
16,095
14,710
616
586
15, 797
11, 176
406
9,634
13, 131
604
11,008
133,684
5,051
12, 423
13, 602
12, 627
13, 504
9,513
4,693
447
458
447
442
281
685. 11
22, 478
654. 66
21, 899
687. 94
21,938
723. 00
22, 016
678. 07
22, 094
660. 95
22, 143
565
461
499
479
494
327
54.01
61.60
39.19
35.44
52.59
54.28
60.62
38.66
35.69
52.71
53.87
60.22
39.71
35.40
50.99
12,829
521
18,470
20, 428
404
11, 344
9,495
10, 881
15, 708
17, 415
563
640
275
366
319
349
636
596
531
392
356
636. 87
22, 193
672. 11
22, 245
692. 22
22 382
685. 11
22, 478
771. 39
22,551
769. 47
22, 592
791. 85
22, 700
781. 60
22, 784
773. 60
22, 956
355
469
8,172
287
389
335
417
795
689
FOREIGN TRADE OF THE UNITED STATES
VALUE OF EXPORTS
Exports (mdse.), incl. reexports, total cf.
mil. $
Excl. Dept. of Defense shipments, _ .. ..do ..
Seasonally adjusted do
By geographic regions:
Africa
_ _ _ _
Asia
Australia and Oceania
Europe
Northern North America
Southern North America
South America
do
do
_ _ do
do
_
By leading countries:
Africa:
Egypt
Republic of South Africa
Asia; Australia and Oceania:
Australia, including New Guinea
India
Pakistan
Malaysia...
_ _
Indonesia _
Philippines
Japan
_
_ _ _ -.
_
_
98,507.2 107,651.8
8,951.6
8,691.0
8,900.6
8,221.5
8,630.7 8,234.8
8 716.1 8893 8
North and South America:
Canada.
T>atin American Republics, total 9
Argentina
Brazil... __
_
Chile.
Colombia
Mexico. ..
__
_
Vene/uela___
Exports of U.S. merchandise, totaled
Excluding military grant-aid
Agricultural products, total
Noriagricultural products, total
84458
8 979 2
3, 659. 4 4, 949. 2
396.6
449.5
423 2
427 1
25,784.5 28, 259. 5 2, 260. 6 2, 317. 9 2, 435. 0 2,300 1 2
2, 696. 8 2, 338. 6
175.6
211.3
172.7
191. 6
30,069.6 32, 726. 5 2, 685. 7 2 573. 7 2 269 7 2,327 1 2
382
388
197
454
8 391 2 S 718 1 9 513 7 9 303 5 8 760 2 8,737 6 9, 842. 2 9 834 2
9 145 '7 9 224 6 9 4Q9 3 9 249 9 9 103 4 8 800 1 8 955 6 9 393 6
5
331 6
347 2
444 4
424 4
406 8
6 2 987 9 9 369 g 2 388 2 2 385 2 2 409 3 2
192 9
9
213 6
192 8
236 1
206 6
7 2 400 2 2 985 5 3 053 8 2 ggg 4 2 804 7 2
420 4
339 7
218 4 2,465 3
201.7
203 2
836 1 3 060 8
do
do._
do
19,941.7 21,767.4 1,979.5 1,968.0 1,891.7 1, 625. 0 1 620 2 1 848 6 2 084 7 1 917 5 1 830 4 1 675 7 1 851 8 2, 197. 6
7, 947. 7 8, 290. 4
720.7
725.5
665. G
679.1
771.6
680.4
722 5
621 6
738 2 ' 673. 9
664.6
750 3
7, 856. 0 8, 815. 3
674.0
789.3
704.3
786.3
729 7
719 9
680 7
815 9
628 6
664 0
695 5
755 9
do
do
455.2
1,159.9
682.7
1, 302. 4
52.5
95.7
82.0
104.8
47.8
108.6
78.0
119.3
44 0
102 8
35.1
90.4
43 0
117 9
48 7
110 0
48 8
119 6
do._.
do
do
do
2,172.3
759.8
396.4
377.3
1,834.0
1,289.7
372.0
395.3
143.6
86.9
49.9
29.1
175.4
97.5
29.5
27.0
156.0
122.3
38.9
31.1
134.2
109 5
21.3
31 0
159 7
119 7
32*8
42 9
153.6
116.0
22.0
57 4
151 7
102 1
28 2
36 2
184 7
91 6
33 2
99 4
166
127
29
30
do
do
_do _
530.5
746.7
10,678.5
810.1
831.5
9, 565. 4
77 8
57.5
757.5
92.7
64.5
785.8
78 0
71.7
783.9
78 7
74 7
773.6
62 0
67 2
793 2
55 8
72 3
724.9
61 4
67 9
752 9
3, 030. 7
274.2
2£9. 1
228.7
223.3
213 4
214.5
17.3
1.1
1.2
.7
3.3
4
.8
5, 194. 1
429.8
410.4
347.7
355.9
387 9
2, 866. 9
1,835.5
4, 524. 9
230.6
77.9
368.5
257.8
92.7
357.2
2?1 4
76.6
330.1
228.3
120.6
360.7
255 1
151.1
325 8
Europe:
France
_. . _ do _ 2, 941. 5
German Democratic Republic (formerly E.
21.9
Germany).
mil. $
Federal Republic of Germany (formerly W.
Germany)
_ mil. $ _ _ 4, 984. 6
Italy
Union of Soviet Socialist Republics
United Kingdom
8 264 2 8 455 6 8 416 8 9 749 7 9 526 7 9 328 7 8 769 8 8,742 4 9 847 4 9 843 6
9,078.6
97,908.1 107,190.6 9,016.9
8,647.6
61 3
96 6
78 3
93 1
54.9
139.0
3
6
8
7
154 4
123 5
28 1
29 8
163 2
99 0
35 0
30 8
163.3
127 2
42 2
34 0
58 5
70 0
844 1
64 8
78 4
729 9
91 2
57 6
841 4
72 3
59 1
671 9
107 5
78 7
824 6
251 5
240 0
273 7
254 2
281 1
301 5
5 5
16
g
5
6
4 8
389.5
436 5
477 3
534 5
504 1
386 5
516 2
194.6
147.6
341 0
220 3
305 1
359 6
231 0
353 9
367 7
207 9
233 8
348 9
264 8
234.2
346 0
230 5
276.5
386 3
257 4
229 7
393 6
do
do_ do
2, 751. 6
608.8
4, 573. 5
do ..
19,936.0 21,758.9 1 979.4 1 964.7 1, 889. 2 1, 624. 7 1 620 0 1 848 5 2 084 3 1 917 ° 1 830 4 1 675 3 1 851 5 2 197 4
do_
<lo
do
do
do
do
do
14,500.9 15, 670. 0 1, 382. 4 1,277.3 1,344.6 1, 266. 1 1,285.1 1, 185. 2 1 412.5 1,318.1 1, 380. 2 1, 238. 1 1, 195. 7 1, 363. 1
628.3
49 4
596.6
39 9
41.2
50.7
66.4
29.0
37 3
27 5
29 4
71 5
36 4
37 3
3, 088. 0 3, 056. 2
222.9
233 3
264.6
291.3
255.3
269 3
232 5
243 8
299 9
265 0
270 1
270 7
533.4
452.2
41.8
40 6
45.4
49.1
26.2
36.6
28.9
49 5
26.3
49.3
40.8
33 7
54 Q
642.9
659.2
60.4
60 9
54 5
60 5
55 3
47 8
41 6
39 8
58 0
40 7
55 6
4, 855. 3 5, 143. 6
448.5
417.2
464.0
431.6
419 2
427*5
412 6
385 1
451 4
483 2
480 3
450 5
1, 767. 7 2,243.3
175.0
191.0
193.3
177.3
198 7
192 8
185 3
189 7
181 4
206 2
193 3
213 6
do
97, 144. 2
do . 96, 545. 0
do ..
21,998.9
75,145.2
do
106,156.7
105,695.6
21,889.2
84, 267. 6
8,950.1 8,836.1 8, 551. 1
8,888.4 8,785. 1 8, 490. 8
1,757.6 1, 496. 4 1. 389. 7
7, 188. 2 7, 340. 9 7, 161. 4
8,157.8 8,362.0 8,297.2
8,128.5 8,352.1 8,271.6
1,532.4 1, 600. 7 1, 609. 9
6, 626. 6 6, 786. 2 6, 692. 8
9 633 2
9, 601. 7
2 081. 9
7 551.3
9 420 5
9, 407. 4
2, 176. 4
7 244 1
9 215 2
9, 190. 0
1,959.9
7, 255. 3
8 668. 1
8, 658. 5
1, 994. 1
6, 674. 0
8 633 9
8 629. 1
1,715.1
6, 918. 8
9 690 7
9, 685. 4
1,873.3
7,817 4
By commodity groups and principal commodities:
Food and live animals 9
mil.*
13,985.8 15, 486. 7 1 219 6 1 028.4 1,060 3 1,114 7 1 182 6 1, 244. 3 1 475 6 1 526 8 1 382 0 1 333 3 1 159 8 1 244 3 1 355 3
527.7
380.7
Meats and preparations (incl. poultry) do
41.7
39.9
45.7
50.8
34.9
47.0
49.7
57.1
53! 9
62.2
56.1
79.3
Grains and cereal preparations.
do
10, 330. 9 11,643.1
711.0
884 2
743.8
933.3 1 114.4 1, 174 4 1 038 4
809.0
876 7
982 7
840 6
853 8
Beverages and tobacco
do
1,247.4
1,309.8
101 6
98.1
79 8
Crude materials, inedible, exc. fuels 9 .
Cotton, raw, excl. linters and waste
Soybeans, exc. canned or prepared
Metal ores, concentrates, and scrap
do
10, 934. 4
do _ 1,334.7
do
3, 537. 4
do
1,475.0
9, 784. 3
991.2
2, 865. 2
1, 355. 2
810.7
88.2
236.0
122. 4
765.8
85.9
155.6
142.2
668 4
95.2
83.8
130.6
r
Revised.
cf Data may not equal the sum of the geographic regions, or commodity groups and principal
commodities, because of revisions to the totals not reflected in the component items; these
revisions will be shown later in biennial editions of BUSINESS STATISTICS. Also, beginning
1973, the totals reflect relatively small amounts of trade with unidentified countries, not shown
separately.
9 Includes data not shown separately.
71 5
r
757. 1
90.8
185.9
111.7
r
104 7
105 7
128 6
150 8
139 6
187 9
137 6
118 1
120 7
775. 9
86.0
200.4
112.6
693.5
67.6
145.2
106.4
876.2
59.8
354.9
99.8
859.5
44.9
336.4
94.8
819.9
61.6
268 3
84.1
835.8
57.1
277 4
85.8
794.1
39.4
265 7
82.4
904 5
104 6
267 8
93! 3
888.0
NOTE FOR PAGE S-25: *New series. Source: U.S. Dept. of Labor, BLS. The index
measures changes in prices of shipping goods by rail in the U.S. (shipments priced were
selected from ICC railroad waybill sample) and is not affected by changes in quantity, shipping terms, types of service, etc. Data back to 1969 (and detail for 11 cDrmndity groups'*,
concepts, methods, uses, and limitations appear in MONTHLY LABOR REVIEW (BLS), June
1975.
SURVEY OF CUKKENT BUSINESS
June 1976
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown
In the 1973 edition of BUSINESS STATISTICS
1974
1975
Annual
Apr.
May
June
July
S-23
1975
1976
Aug.
Apr.
415.1
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
281.7
156.2
84.8
303.9
208.6
76.5
77.9
77.3
May
FOREIGN TRADE OF THE UNITED STATES—Continued
VALUE OF EXPORTS— Continued
Exports of U.S. merchandise— Continued
By commodity groups and principal commodities — C ontinued
Mineral fuels, lubricants, etc. 9
mil $
Coal and related products
do--_
Petroleum and products
do
3,443.9
2, 487. 2
791.7
4, 464. 9
3, 343. 0
907.3
391.4
298.7
68.4
436.5
339.2
84.7
406.2
310.1
83.3
310.3
220.0
74.8
379.8
288.9
98.1
322.8
233.9
79.7
318.5
224.2
81.1
457.9
379.6
63.8
346.9
231.2
89.4
268.4
187.3
60.0
43.9
43.5
56.9
77.7
68.8
78.9
73.9
Animal and vegetable oils, fats, waxes
do...
1, 423. 3
943.8
73.7
88.9
57.9
66.3
Chemicals.
do
8,819.2
8, 705. 3
737.1
702.6
718.7
704.6
710.7
682,2
730.2
661.6
780.7
748.7
714.9
863.8
854.2
do
do
do
do
11,165.8 10, 917. 7
1, 795. 3 1, 624. 5
2, 560. 3 2,457.0
1, 300. 4 1, 089. 5
948.6
139.6
219.5
104.0
954.2
136.0
230.1
98.0
899.2
129.4
225.9
87.5
862.8
122.9
199.5
71.2
875.2
132.8
199.1
79.6
880.1
142.8
185.9
84.7
980.4
162.0
173.5
92.3
914.3
147.1
184.2
92.6
895.2
145.6
151.6
103.2
894.0
150.3
145.0
90.2
890.5 1, 019. 0
151.3
175 9
152.4
164.3
68.0
104.9
975.5
. ,
Manufactured goods 9 If
Textiles
. _
Iron and steel
Nonferrous base metals
Machinery and transport equipment, total
mil. $.
Machinery, total 9
Agricultural
Metalworldng __ _
Construction, excav. and mining
Electrical
Transport equipment, total
Motor vehicles and parts
do
do .
do
do
do
do
do
38,188.6 45, 709. 5 3,910.1
23,687.9 28, 476. 2 2, 494. 9
1, 398. 4 2, 094. 4
206.1
636.5
74.8
916.4
3,112.6 4, 731. 4
413.1
7,019.2 7, 586. 5
646.1
14, 500. 7 17, 233. 3 1,410.2
7, 878. 1 10, 036. 2
854.5
3,993.0 3, 938. 0 3,577.9 3, 550. 7 3, 618. 9 4, 257. 8 3,946.7 4, 038. 2 3, 589. 3 3, 879. 3 4, 330. 9 4, 224. 1
2, 479. 9 2, 423. 1 2, 287. 4 2, 304. 6 2,202.9 2,587.9 2, 413. 8 2, 474. 3 2, 377. 1 2, 402. 3 2, 789. 8
190.7
198.5
189.9
155.5
142.6
186.6
182.5
221.5
150.1
200.3
171.4
71.7
75.8
73.5
79.4
72.4
83.1
106.6
85.4
83.3
63.8
96.2
406.5
421.2
413.8
429.6 386.2
394.4
434.6
397.5
374.4
419.8
423.1
688.5
624.2
652. 7
596.9
706.4
624.1
599. 2
664.2
665.1
792.2
795.1
633.3
1,510.4 1,514.9 1, 290. 5 1,246.1 1,416.0 1,669.8 1, 532. 8 1,563.9 1,212.2 1, 477. 0 1, 541. 1 1, 520. 1
848.1
893.4
743.7
981.2
760.5
728.2
989.7
919.4
893.0
890.8
944.3
Miscellaneous manufactured articles
do
5, 349. 1
5, 672. 4
482.3
483.5
481.0
454.6
460.8
460. 0
530.9
471.8
478.5
477.9
500.4
611.8
545. 7
Commodities not classified
do
2, 586. 6
3, 162. 3
274.9
285.0
241.4
237.9
277.8
246.0
278.2
353.3
265.5
254.0
201.6
216.5
258.3
VALUE OF IMPORTS O
General imports, total c?
Seasonally adjusted.
_
By geographic regions:
Africa..
_
Asia _ _ _
___ _
Australia and Oceania
Europe _ _
. _
_
_
do... 100,251.0 96, 140. 4 8,190.1 7,367.9
do
7,958.5 7,266.2
do
do
do
do
Northern North America
Southern North America _.
South America _
do
do
do
By leading countries:
Africa:
Egypt
~_Republic of South Africa _ _
do
do
Asia; Australia and Oceania:
Australia, including New Guinea
India.
„
Pakistan
Malaysia
Indonesia
Philippines
Japan
_ _
do_.
do
do
do
do
do
do
7,279.0 7,920.7 7,518.8 8, 161. 6 8,511.9 7, 910. 7 8, 888. 9 9,009.0 8,111.2 10,199.2 9, 895. 1
7,103.5 7,832.2 7,877.2 8,205.1 8,170.4 8,203.6 8, 525. 7 9, 176. 0 8, 940. 9 9, 606. 5 9, 595. 7
6, 617. 6 8, 304. 6
474.5
686.4
710.7
893.8
681.6
869.2
632.5 743.0
964.5
687.4
789.9
760.1
27,344.9 27, 054. 6 2, 156. 7 1, 860. 0 1, 870. 8 2, 176. 1 2, 223. 9 2,321.3 2, 574. 5 2, 356. 0 2, 663. 0 2, 955. 3 2, 502. 1 3, 145. 9
1,503.9 1, 508. 2
154.6
112.8
136.1
130.9
132.0
163.5
124.0
94.9
134.7
118.2
91.1
115.9
24,411.8 21, 465. 9 1,721.9 1, 627. 3 1,708.1 1, 782. 0 1, 558. 1 1, 539. 1 1,742.9 1,831.0 2, 053. 9 1, 896. 6 1,610.8 2, 156. 9
21,929.1 21, 754. 7 1,916.5 1, 828. 6 1,813.2 1, 756. 7 1, 597. 9 1,821.6 2, 036. 1 1,861.5 2, 021. 5 1, 796. 2 r r1,871. 2 2, 253. 5
776.4
9, 433. 1 8, 821. 6
749.5 591.7 684.6
798.9
714.2
900.8
753.4
760.5
681. 4
778.6 715.2
8, 962. 4 7, 219. 3
472.7
601.2
566.7
560.4
501.1
627.7
642.3
558.7
692.8
727.8 547.2
606.2
27.5
840.9
.4
86.7
.4
52.2
.7
77.1
2.8
91.0
2.3
46.9
6.8
79.7
.5
85.0
4.8
71.9
7.8
59.5
11.4
62.8
5.8
70.8
14.0
75.6
1, 082. 7 1,183.0
559.5
548.2
60.7
48.8
769.7
766.4
1, 688. 1 2, 220. 6
1, 083. 9
754.2
12,337.6 11, 268. 0
92.0
31.2
4.4
51.7
214.4
92.1
929.1
70.3
30.7
3.3
55.0
148.7
47.9
808.3
123.4
37.1
3.5
56.5
133.4
33.1
858.1
89.3
42.3
3.8
59.4
224.8
35.7
952.6
108.3
36.6
3.3
44.0
232.1
50.2
915.5
132.4
50.7
3.3
56.2
207.6
87.3
840.6
109. 8
76.8
3.9
74.4
219.2
99.3
938.1
101.3
77.2
6.2
80.8
182.5
63.4
867.1
89.1
59.8
5.4
77.5
192.9
44.3
, 044. 9
101.0
62.1
6.4
66.8
245.1
49.5
, 156. 7
79.0
59.1
5.8
65.6
190.9
58.3
995.0
102.3
55.1
7.7
72.4
278.4
53.3
, 308. 3
2, 257. 4
222.9
69.7
608.8
Europe:
France
do
German Democratic Republic (formerly E.
Germany)
_
mil. $
Federal Republic of Germany (formerly W.
Germany)
mil. $
Italy
do
Union of Soviet Socialist Republics
do
United Kingdom .
do
2, 136. 9
175.7
177.7
176.1
204.6
163.9
134.2
150.8
175.5
194.9
185.3
166.7
14.1
11.2
.6
,8
.6
.7
.9
1.0
1.4
.9
1.3
1.9
.5
1.1
6, 323. 9
2, 585. 0
349.7
4,061.3
5,381.5
2, 397. 1
254.4
3,784.4
439.2
185.3
18.0
304.3
403.2
162.3
16.5
290.0
413.6
192.3
20.3
311.8
430.0
190.3
18.7
311.4
408.8
214.3
14.1
271.4
347.6
205.7
21.4
274.6
433.1
194. 9
25.4
298.2
438.1
209.9
17.0
298.3
509.5
218.5
23.7
360.7
486.0
207.5
16.7
302.2
348.0
178.5
11.2
286.6
490.1
228.5
14.5
402.7
North and South America:
Canada.
_
21,924.4 21, 746. 7
, 915. 4
, 827. 3
, 812. 8
, 755. 8
, 597. 6
, 820. 9
, 034. 7
, 861. 5
, 020. 3
, 795. 7 1, 870. 9
, 253. 0
13,666.9
385.8
1,699.9
310.3
511.0
3, 390. 4
4, 671. 1
1,839.8
214.6
1, 464. 3
137.7
590.2
3, 058. 6
3, 623. 9
, 114. 7
12.6
110.4
16.4
50.3
253. 5
443.6
979.0
10.4
96.1
10.3
40.4
274.2
304.5
964.1
14.4
117.5
9.0
46.4
268.9
204.0
, 037. 6
10.7
119.7
11.9
61.4
251.1
307.8
925.6
12.4
121.0
7.8
55.0
243.5
259.3
,068.7
24.9
188.3
14.1
59.9
270.3
278.1
952.3
39.9
115.2
13.1
44.5
298.4
249.8
835.6
20.5
98.9
10.8
58.5
248.0
225.3
997.2
27.2
134.1
14.6
41.0
280.2
284.1
0, 380. 1
9, 837. 9
9, 489. 8
6, 650. 5
787.3
,393.8
701.9
, 656. 1
857.7
,413.7
763.0
, 152. 4
687.4
, 826. 2
946.2
,215.4
829.2
, 682. 7
800.5
, 110. 2
787.3
, 101. 6
8,508.8
321.1
1, 560. 9
1,141.2
1, 870. 1
684.5
28.2
102.2
75.7
200.3
611.0
24.6
95.7
67.7
145.2
779.7
23.6
120.3
83.2
259.5
705.8
19.4
115.9
99.9
174.7
635.8
14.6
141.0
95.6
109.1
896.9
21.2
210.4
106.2
237.0
759.9
27.2
145.5
102.0
165.4
725.1
24.0
140.9
125.5
90.4
712.1
41.7
117.4
100.6
76.3
do
Latin American Republics, total 9 __ do
Argentina
do
Brazil
_
do
Chile
"do"""
Colombia
do
Mexico _ _
do
Venezuela
do
By commodity groups and principal commodities:
Agricultural products, total..
mil $
Nonagri cultural products, total
.do
992.8
22.5
135.8
13.1
59.5
263.4
287.4
927.8
18.3
98.5
12 2
58.9
258.0
286.2
, 149. 5
23.4
133.3
16.4
59.9
335.5
319.7
843.0 831.0
, 165. 9 7, 280. 2
, 002. 7
, 196. 4
669.5
21.8
166.3
90.7
91.3
890.1
38.8
234.3
128.3
76.1
Food and live animals 9
Cocoa or cacao beans
Coffee
Meats and preparations
Sugar...
do
do
do
do
do
9, 386. 2
316.6
1, 504. 8
1, 352. 6
2 247 4
Beverages and tobacco
do
1,322.3
1, 419. 5
119.1
116.9
129.6
103.4
95.8
106.9
128.0
120.4
137.2
141.5
158.3
167.8
127.6
6, 065. 6
1,848.1
1, 164. 9
225.2
• 515.6
5,564.3
1,976.7
1, 067. 5
174.4
364.7
475.3
161.4
87.8
14.9
27.6
453.6
160.1
86.8
12.3
18.7
513.0
183.3
97.2
11.3
30.7
506.4
181.5
92.4
11.4
28.0
420.9
155.4
75.8
12.9
32.3
476.4
184.3
82.2
17.6
30.0
457.7
165.0
86.9
19.6
34.1
415.3
126.4
81.7
18.4
39.2
524.4
183.9
96.9
20.8
36.9
483.7
147.0
108.6
18.0
38.5
439.5
102.0
99.3
16.8
33.8
539.6
125.6
109.5
31.8
45.5
563.0
, 790. 7 2, 302. 3
, 609. 4 2, 122. 4
, 748. 2
, 583. 6
, 797. 3
51.5
316.6
34.4
410.1
36.8
414.3
Crude materials, inedible, exc. fuels 9
Metal ores
Paper base stocks
Textile
fibers
Rubber
Mineral fuels, lubricants, etc
Petroleum and products
do
do
do
"do"""
do
do
5. 453. 8 6, 475. 6 2,441.3 1,945.0 1,436.1 2,137.3 2,245.6 , 446. 1 , 345. 5 , 089. 4
.'Idol"" 4, 269. 5 4,814.3 310.4 , 828. 0 ,316.1 , 021. 8 , 134. 3 , 305. 0 , 197. 7 931.1
Animal and vegetable oils and fats
do
48.8
544.3
553.9
40.7
33.2
51.9
32.7
41.6
66.2
44.8
Chemicals
do
302.4
4,017.7 3,696.4
351.9
247.4
275.1
285.6
270.6
252.8
298.5
Manufactured goods 9 1f - . .
do
17,718.7 4, 700. 5 1,243.1 , 144. 7 1 230 8 , 136. 6 ,005.3 ,091.8 , 194. 0 , 121. 2
Iron and steel..
do
285.4
238.5
5, 148. 9 4, 594. 5 422.5
279.6
371.6
321.8
355.8
265.7
Newsprint
do
97.8
1,503.2 1,427.3 138.1
131.0
109.0
73.1
134.6
131.9
106.0
Nonferrous metals..
do
258.8
173.2
3,921.0 2, 580. 7 195.7
231.0
162.0
231.3
169.4
225.8
Textiles
d o " 1,614.7 1,218.6
117.0
85.4
94.2
126.0
89.6
89.9
90.1
87.4
r
Revised.
9 Includes data not shown separa tely.
1M anufactu red good s— classif led chief
c ("See comispondin ? note, o n p. S-2^J.
data beginning 1974 are based on f.a.s. (free alongside 5 hip) valu e basis rat her than customs value ba< is as foralerly shown.
547.5
364.1
46.0
327.9
759.7
44.3
152.0
135.6
62.9
37.8
350.0
211.1 , 190. 5
330.5
310.0
68.7
78.6
252.7
247.3
141.4
144.8
y by m aterial.
818.6
470.7 ,409.6
, 108. 6
318.6
291. 2
157.2
76.6
278.0
211.1
148.9
117.5
QEffec tive Jun e 1975 SURVEY,
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
1974
1976
1975
1975
Annual
June 1976
Apr.
May
June
July
Aug.
Sept.
Nov.
Oct.
Dec.
Jan.
Feb.
Mar.
Apr.
May
FOREIGN TRADE OF THE UNITED STATES—Continued
VALUE OF IMPORTSO— Continued
General imports— Continued
By commodity groups and principal commodities — Continued
Machinery and transport equipment... _mil. $__ 24,060.3 23, 464. 6 1,899.2 1, 934. 5 1, 961. 6 1, 964. 4 1, 822. 0 1,793.3 2, 138. 6 2, 018. 6 2, 269. 4 2,229.7 2, 104. 9 2, 724. 0 2, 606. 2
11,612.0 11 727 4
924 3
971 4 1,012.0
938 1 944 9
Machinery, total 9
do
966 4 1 109 8 999 1 1 124 0 1 003 9 1, 009. 7 1, 310. 1
Metal working _ _ _ _ _ _
do
29.4
26.5
299.7
29.1
29 7
29.8
28.7
23.5
32.9
361.5
26 0
36 8
25.6
28 6
5, 339. 1 4 911 2
443.2 590.8
Electrical
do
432 0
527 4
411 0
407 9
444 3 496 3
353 0 357 0
455 6
450 1
Transport equipment
Automobiles and parts
do
do
12,450.7 11,737.2
10 263.9 9 920 7
961.1
788 7
989.6
851 3
990. 1
837 5
952.4
807 2
897.7
777 1
826.9 1,028.8 1, 019. 6 1, 145. 4 1, 225. 9 1, 095. 3 1, 413. 9
907 0
914 3 1 026 2 1 1324 979 8 1 246 3
699 8
838.7
790.2
999.2
931.7
186.6
169.7
215.0
189.9
Miscellaneous manufactured articles
do
9, 426. 2
9, 227. 6
703.8
626.3
722.7
850.9
800.6
815.7
919.7
844.1
Commodities not classified
do
2, 255. 7
2, 529. 1
231 2
198 5
219.7
223.8
189.7
217.9
217.4
211.9
234.6
174.5
180.5
315.0
v 196 3
v 175. 8
v 345. 1
197 4
176.2
347.9
196 9
174 7
344 0
194 6
170 9
332 5
195.5
162.8
318.3
194 2
168.9
328.0
195. 5
165.8
324.1
194 1
193.7
376.0
195 5
188 4
368.4
198.7 Pl99 8 P198.4 p 196.7
181.1 P169 7 •p 170. 3 P 192.8
359.8 p 339.0 p 337. 9 P 379.2
223.3
168.1
375.5
p 241. 9
p 149. 0
p 360. 6
248.3
148.4
368.5
245 8
135 2
332.3
246 2
133 4
328 5
238.3
149.4
356.0
238.8
141.3
337.4
237 6
154 5
367.2
238 9
160.5
383.4
236 6
150.6
356.2
239.6 p240 3 P 241.9 P 243.1
166.7 P166.7 p 150.9 P 188.8
399.4 p 400. 5 p 364.8 p 459.1
thous sh tons
mil $
264,484
55, 506
269 190
61,412
21, 514
5,105
22, 262
4,969
21, 441
4,847
20, 939
4,743
23, 479
4,984
21 373
4 625
23 611
5 485
27 156
5 466
23, 346
5,360
thous sh tons
mil $
446 558
67,160
427 865
63, 469
38,017
5,397
32, 342
4,779
27, 781
4,632
36 107
5,300
35, 633
5,135
39 381
5 418
36 773
5 349
32 095
5 018
38 910
5,780
878.7
Indexes
Exports (U.S. mdse., excl. military grant-aid):
Unit value
1967 — 100
Quantity
do
Value
do
General imports:
Unit value
do
Quantity
do
Value
do
Shipping Weight and Value
Waterborne trade:
Exports find, reexports):
Shipping weight
Value
General imports:
Shipping weight
Value
TRANSPORTATION AND COMMUNICATION
TRANSPORTATION
Air Carriers (Scheduled Service)
Certificated route carriers:
Passenger-miles (revenue)
___
_. bil__
Passenger-load factor§
.percent. _
Ton-miles (revenue), total^f
mil
Operating revenues 9 O
Passenger revenues
Cargo revenues
Mail revenues
Operating expenses©
Net income after taxesO
__
Domestic operations:
Passenger-miles (revenue)
Cargo ton-miles
Mail ton-miles
162. 92
54.9
22, 425
162. 81
53.7
22, 186
12.91
50.9
1,774
..mil. $_. 6 14, 703 rpl5,356
„ do
11,879 r P 12, 354
do
1,248 r P 1,310
do
309
P311
6
13, 978 '•plS 228
do
do
322 rp -72
bil
mil
do
129. 73
2,888
692
mil $
do
do
& 10, 761
381
p 12,020
p 11,902
p -46
International operations:
Passenger-miles (revenue)
Cargo ton-miles
Mail ton-miles
bil
mil
do
33.19
2,083
471
31.08
2,048
426
Operating revenues©
Operating expenses©
Net income after taxes©
mil $
do
do
^3,157
<> 3, 218
-60
p 3, 336
P 3, 326
P -25
mil
5,606
>• 5, 596
Operating revenuesO
Operating expenses©-- . .
Net income after taxesO
12.19
50.3
1,689
611,546
131.73
2,747
683
14.90
56.5
1,968
16.10
57.4
2,110
17.30
61.9
2,241
10.42
233
57
12.14
232
52
12.75
238
54
13.81
249
54
2,964
2,903
18
2.12
152
37
2.49
157
36
2.76
156
37
13.36
53.7
1,899
12.26
52.0
1,762
10.22
244
53
r
10.92
261
59
3.49
175
33
832
808
15
2.67
187
30
13.94 P 12. 75 p 14. 19
53.4 P52.0 P53.6
1,839 P 1, 727 p 1, 954
r P84
P 3, 923
P 58
10.06
239
55
11.36
214
75
11.29
206
56
P 10. 54 p 11. 80
P250
P207
p59
P52
P 3 073
P 3062
p 13
3,203
3,075
42
3.35
172
35
13.93
60.1
1,901
'P3,884
'p3,037
r
P 356
4,174
3,389
344
72
3,950
118
3 796
3 078
316
75
3,711
32
10.07
224
57
12.90
51.8
1,803
2.44
210
33
2.20
204
38
971
875
75
2.56
173
46
p
2.65
151
33
P2.21
P161
p32
P2.39
p 193
P33
481
467
564
484
142.6
149.6
152.2
145.0
p 811
P861
45
Local Transit Lines
Passengers carried (revenue)
Motor Carriers
Carriers of property, large, class T, qtrly.:*
Number of reporting carriers
98
Operating revenues, total
mil $
3 9, 610
Net income, after extraordinary and prior period"
charges and credits.
mil $
233
Tonnage hauled (revenue), common and contract
carrier service
mil tons
194
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^,
135
Common carriers of general freight, seas, adj.f
1967=100.. 2155.4
Class I Railroads
Financial operations, qtrly. (AAR), excl. Amtrak:
Operating revenues, total © 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
r
16, 947
315, 881
290
13, 127
3,050
769
1687
'490
98
2,761
.a 49
81
/52
78
-48
43
/51
49
138.5
140.1
137.6
141.8
<*88
54
<*50
41
123.0
128.3
220
174
430
125.2
3,995
3,746
73
3,301
693
1
1
fi7
496
124
118
121
2
Revised.
p Preliminary.
1 Before extraordi nary and prior peri od items.
Companson with year-ago data may be affected by the ch ange in re porting ac tual tonnage3 carried
instead of billed tonnage, per the ICC Uniform S\Astern of 1Accounts (1/1/74).
Annual
total; quarterly revisions not available.
O See com^ponding note on p. S. 23.
9 Includes
data not shown separately.
If Applies to passen gers, bag*?age, carg o, and mail carried.
§ Passenger-miles as a percent of available seat-miles in revenile service reflects proportion of
seating capacity actually sold and utilized.
© Tot al revenu 3S, expens 3S, and income for all
/98
/ 2, 526
•100
• 2, 467
d
!00
* 2,474
nil
100
2,500
100
2,269
98
3 9, 553
16, 423
15, 410
297
13, 254
2,818
351
493
433
455
131.8
450
425
475
131.2
• 4, 392
• 4, 129
• 73
• 3, 322
«*815
137.5
/ 4, 324
4,154
4,435
/ 4, 057
4,176
3,900
/71
75
78
3,237
/3,450
3,415
727
/726
743
277
•a 255
190
/148
/ i 134 1239
1115
•1246
* New series. Source: ICC (no comgroups 5 of earrhjrs also r eflect no nschedul ed servic e.
s are cornparable for the identical quarter of each
parab: e data prior to 1<)72).
c f Indexe
2
.ailroad
Pass. Corp. (Amtrak) operations
6}Natl. E
year ( and from year to year); s ee .
(not iricluded i n AAR (lata abo-sre), 1st 6 months 1974 and 1975 (mil. $) : Oper. revenues, 129;
° See note, bottom of p. S-25.
119;
oj>er. expeiises, 221; 248; net loss, 125 , 166; (1C^C).
b
• For 3d qtr. 1974.
/ For 4th qtr.
Se< 3 note, be)ttom of p. S-25.
<*For _d qtr. 1?)74.
1974.
fRevis ed to nei*v seasonsil factors back to ]L957.
SUEVEY OF CURRENT BUSINESS
June 1976
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown
In the 1973 edition oi BUSINESS STATISTICS
1974
1975
Annual
S-25
1976
1975
Apr.
June
May
July
Aug.
Sept.
Nov.
Oct.
Dec.
Jan.
Feb.
181.0
181.2
108
113
30.48
57
Mar.
Apr.
May
187.8
360.5
363.5
181.2
185.4
187.1
132
29.28
62
120
30.88
64
TRANSPORTATION AND COMMUNICATION—Continued
TRANSPORTATION— Continued
Class I Railroads— Continued
Traffic:
Ton-miles of freight (net), total, rtrly.
bil
Revenue ton-miles, qtrly. ( A A R )
do
Revenue per ton-mile
cents
Price index for railroad freight*
1969=100
Passengers (revenue) carried 1 mile..
_-miL.
880.7
851.0
1.848
149 7
10, 333
781.0
755.1
117
25.02
62
19 38
67
118
27.60
59
21.23
64
8 540
8,306
5 936
5 067
2,415
52, 857
7 966
8,177
6 176
5 326
2,334
60, 527
mil $
do
do
do
do
mil
29 013
13 932
11 456
18 468
5 9310
179
mil. $
do
483.9
384 7
69 4
2
169 4
193 3
189.6
1 950
165 9
4, 794
196.3
175 2
175.6
175 7
180.2
180.8
180 9
123
131
27.01
131
29.55
70
117
27.31
121
26.89
60
115
27 18
28.19
117
27.67
43
20.83
48
158 3
165 8
114
126
27.67
59
20 82
21 51
63
22 81
71
71
76
624
582
428
338
261
2,735
625
731
466
406
263
4,437
701
760
538
445
286
7,948
872
903
675
556
241
1 003
32 075
15 256
12, 688
20 672
5 793
132 3
2 654
2 647
1 254
1 054
1 685
129 1
504.8
403.9
70 7
4
298 7 p 315. 8
4 205 4 r> 4 223 5
4 77 4 v 4 74 6
2
202.8
190.1
182.4
Travel
Hotels and motor-hotels :f
Restaurant sales index
same month 1967=100
Hotels: Average room sale 1
dollars
Rooms occupied
_
% of total
Motor-hotels: Average room sale If
dollars
Rooms occupied
% of total
Foreign travel:
II S citizens* Arrivals©
thous
Departures©
do
Aliens* Arrivals©
do
Departures©
do
Passports issued. . . . .
do
National parks, visits
do
r
r
28. 18
>-64
20r 50
63
60
58
20.72
65
21.31
69
60
11 320
882
728
665
187
11,445
653
706
543
483
161
5,845
658
632
472
480
131
4,597
606
599
430
398
119
2,596
2 659
1 268
1 050
1 674
2 717
1 270
1 102
1 725
2 712
1 280
1,085
1 729
2 743
1,300
1,087
1 777
2 827
1,138
1 854
2,761
1,329
1,059
1,766
129 2
129 5
129 9
130 3
131 1
131 6
132 0
132 3
42.0
32.9
6 6
42.6
33.6
5 9
43 2
33 4
7 1
43.1
33.7
6 9
41.5
33.9
59
42.1
34.3
5 4
45.1
35.6
6 8
41.4
33.8
50
44.4
37.5
5 4
26.7
19 3
5 9
26.2
18 1
6 8
26 0
18 5
6 0
26.7
19 0
6 2
25.5
18 1
5 9
64
59
21 77
21.16
29.41
56
21.24
514
624
457
418
118
3,716
21.11
63
58
21.64
21.93
66
66
315
3,828
5571
5545
5474
5426
183
194
285
1,829
2,196
2,491
41.1
34.4
4 1
42.2
33.7
6 2
46.0
35.9
26. 4
19.8
4
5.2
29.5
21.3
315
COMMUNICATION
Telephone carriers:
Operating revenues 9
Station revenues
Tolls message
Operating expenses (excluding toxes)
Net operating income (after taxes)
Phones in service end of period
Telegraph carriers:
Domestic:
Operating revenues
Operating expenses
Overseas, total:
Operating revenues
Operating expenses
pera
do
do
4
1*247
1 069
1 692
484
484
495
500
497
492
4
27. 5
4
18.9
4
71
l'323
500
4
4
2,842
1,347
1,125
1,856
527
508
4
4
28. 7
19. 8
4
73
25. 2
18. 4
4
5 2
4
4
26. 6
20. 4
4
51
4
4
27.0
20. 1
4
50
4
4
7.7
6.6
CHEMICALS AND ALLIED PRODUCTS
1
CHEMICALS
Inorganic Chemicals
Production:
Aluminum sulfate, commercial (17% AljOs)}
thous. sh. tons..
Chlorine gas (100% CljH
do
Hydrochloric acid (100% HCl)t
do
Phosphorus elemental^
do
Sodium carbonate (soda ash), synthetic (58%
NaaO)f
thous. sh. tons..
Sodium hydroxide (100% NiOIDi
do
Sodium silicate anhydrou^t
do
Sodium sulfate anhydron^l
do
Sodium trypolyphosphate (100% NasPaOio)!
do—
Titanium dioxide (composite and pure)t do
Sulfur, native (Frasch) and recovered:
Product ion d"
_
.thous. Ig. tons..
90
672
157
40
89
709
149
37
79
695
150
35
100
699
159
31
99
767
175
33
88
778
169
39
106
839
180
41
80
770
159
40
98
827
181
38
83
758
181
36
82
781
203
37
92
830
205
37
2,793
9,268
655
1,267
238
685
53
107
248
726
64
105
216
713
61
81
214
719
49
96
226
792
45
101
208
801
41
102
247
858
62
112
200
793
61
108
249
844
60
92
204
789
60
100
210
805
64
95
225
849
71
95
903
787
111
603
64
44
61
46
60
48
57
50
68
57
67
63
72
62
61
52
62
52
60
57
62
61
65
69
10,533
3,957
10, 141
5,126
835
837
4,871
5,078
817
5,126
'746
4,993
826
5,051
791
4,950
802
781
4,309
5,226 r 5, 252
1,349
559
171
581
192
502
1,264
536
150
569
153
573
2,695
1,439
610
185
624
162
657
2,940
1,342
558
150
588
147
615
1,241
546
156
581
141
603
2,400
1,235
596
157
165
155
635
2,601
1, 251
568
154
608
159
662
2,300
1,360
489
170
541
162
543
2,381
383
697
177
1,821
108
1,276
126
375
707
338
1,715
134
1,023
205
406
621
320
1,787
79
1,252
111
461
509
672
1,586
147
1,163
133
478
538
384
1,619
173
1,081
132
505
541
470
1,639
142
1,205
79
8
6
299
16
23
6
354
0
12
14
418
7
14
20
746
2
32
15
526
0
15
18
510
4
1,283
10, 753
2,451
524
1,062
3,507
11,189
770
1,348
1
9,023
1,973
455
908
912
4,498
4,739
841
807
5,297
Inorganic Fertilizer Materials
Production:
Ammonia, synthetic anhydroust
1,354
1,345
1.406
15, 780
thous. sh. tons.. 15, 805
644
523
591
7,542
6,967
Ammonium nitrate, original solutiont
do
150
161
144
1,921
i 2, 120
Ammonium sulfatet
do
553
618
593
8,120
7,074
Nitric acid (100% HNOsH
do.—
235
218
230
2,243
2,200
Nitrogen solutions (100% N > t - do
644
530
600
7.213
7,157
Phosphoric acid (100% PjO 5 U
do
2,743 2,483 2,263
33, 052
30, 593
Su'furic acid (100% HjSOOt..
do .
Superphosphate and other phosphatic fertilizers
(100% PjO 6 ):
519
413
495
Production
thous. sh. tons_.
5,396
5,367
479
650
607
541
Stocks end of period
do
377
244
485
324
Potash, deliveries (K 2 O)
.
. . do . 1 6,334
5,079
1,575
1,503
20,156 19,611 1,336
Exports, total 9
do
149
75
116
i 914
Nitrogenous materials
...do
1,397
1,179
1,010
993
Phosphate materials
do
15,361
13, 786
47
127
81
1,415
Potash materials
do
1,419
Imports:
17
26
27
245
Ammonium nitrate
.do
369
5
32
12
258
219
Ammonium sulfate.
.do
332
595
388
7,146
6,132
P ot assium chlori de
do
5
42
18
So dium nitrate
do
150
139
r
l
Revised.
v Preliminary.
Annual total;
monthly revisions are
not available.
3
3
4
For six months ending in month shown.
For
month shown.
Includes data for
5
Western Union Int. Cable & Wireless as noted.
See note O.
*See note *, p. S-22.
fEffective May 1975 SURVEY, index shifted to 1967 base and operations for hotels and motorhotels shown separately; data back to 1971 are available.
^Average daily rent per occupied
room, not scheduled rates.
9 Includes data not shown separately.
©Effective 1976, data are compiled by U.S. Dept. of Transportation from INS records
and refer to air travel; travel by sea is omitted (for 1973-75, average annual arrivals and departures by sea are as follows—units and order as above: 814; 784; 159; 129).
J Monthly revisions back to 1971 are available upon request.
cfln 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 of
r 1, 362
1,445
624
2,557
'559
' 148
'631
'149
'664
' 2, 834
651
190
702
2,822
462
619
437
1,596
110
1,103
104
458
656
381
1,159
84
808
96
472
552
704
1,662
151
1,133
115
491
449
7-914
2, 150
138
1,609
157
17
21
507
0
12
47
564
0
35
65
828
14
64
106
943
14
2,575
p393
Mines no longer makes this
distinction.
NOTES FOR P.S-24—a Beginning 1975 (and restated year-ago period), data reflect changes
in accounting to include provision for deferred taxes and other changes. For general co nparison
under former accounting method, net railway operating income for 1st qtr. 1975 is about H»
mil. lower (and for 1st qtr. 1974, about $41 mil. lower); for motor carriers, net income
for 1st
b
qtr. 1975 is about $3.2 mil. lower (and for 1st qtr. 1974, about $1.8 mil. lower).
Effective
1974, comparison of operating revenues and expenses with prior periods is affected by revised
reporting regulations. Beginning 1974, other transport-related revenues and expenses are
reported gross in operating revenues and in expenses rather than as net in operating revenues.
For the year 1974, for total certificated route carriers, this reporting change had the effect ot
ncreasing operating revenues by 2.5% and expenses by 2.7%.
SURVEY OF CURRENT BUSINESS
S-26
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown
in the 1973 edition of BUSINESS STATISTICS
1974
1975
Annual
June 1976
1975
Apr.
May
June
July
Aug.
1976
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
CHEMICALS AND ALLIED PRODUCTS—Continued
CHEMICALS— Continued
Industrial Gasest
Production:
Acetylene
- - - roil. cu. ft
Carbon dioxide, liquid, gas, and solid
thous. sh. tons
Hydrogen (high and low purity)
mil. cu. ft__
Nitrogen (high and low purity)..
do
Oxygen (high and low purity) _
do_ ,
Organic Chemicals d"
Production:
Acetylsalicylic acid (aspirin).
„ mil. Ib
Creosote oil © _ _
_.
_ mil. gal
Ethyl acetate (85%)
mil Ib
Formaldehyde (37% HCHO)
do....
Glycerin, refined, all grades
_
do
Methanol, synthetic..
.. ..
mil. gal
Phthalic anhydride
mil Ib
ALCOHOLJ
Ethyl alcohol and spirits:
Production
.mil. tax gal_.
TJsed for denaturation
...
.
do
Taxable withdrawals
do. _
Stocks end of period
do
Denatured alcohol:
Production
mil. wine gal
Consumption (withdrawals)
_
do
Stocks, end of period
do
7,808
6,623
501
537
539
567
592
728
552
590
635
'588
601
1,766
75, 017
243, 612
389, 628
1,391
64, 959
236,248
350,789
110
4,772
19, 165
29,595
115
5,541
19,350
29,067
127
5,214
18,688
27,014
133
5,485
19,453
26,895
138
5,857
19, 971
27, 558
127
5,967
20,245
29,854
129
6,137
20,436
29,018
103
5,386
19, 958
28, 390
109
6,344
21,551
28,341
145
138
6,397 ' 6, 165
22,445 '22,448
30,024 '32, 107
156
7,340
23, 722
33,330
132.9
125.8
i 124. 2 i 117. 0
i 170. 2 i 124.3
1 5,845.8 14,616.0
348.7
264.4
i 11,033.9
i 779. 7
978.6 i 708. 8
2.1
9.0
6.1
380.3
19.8
52.0
50.6
1.9
8.7
7.0
352.7
18.3
58.7
54.7
2.2
7.6
5.9
372.7
18.8
76.5
64.2
2.3
5.9
11.1
356.7
17.3
80.5
52.6
2.4
7.5
11.1
384.3
22.1
64.6
64.9
1.9
8.3
10.8
430.1
19.5
61.6
68.0
2.0
7.9
9.8
495.4
22.9
65.6
73.6
2.2
6.3
14.3
399.4
25.7
73.5
65.0
1.8
6.7
14.1
431.7
27.0
78.7
78.1
2.1
6.0
11.9
357.8
27.3
71.5
68.4
2.4
5.5
12.1
451.8
23.8
67.4
65.3
2.3
6.8
15.7
503.2
'29.6
80.4
83.0
582
618.2
460.0
73.8
100.6
526.3
391.3
77.7
106.1
41.4
29.3
6.1
120.9
39.8
30.4
6.4
114.7
39.1
29.6
6.8
116.7
41.3
29.7
6.4
114.1
40.1
29.7
6.3
115.2
39.6
43.8
7.1
107.0
53.8
37.8
7.6
96.7
46.4
30.0
6.3
103.1
47.9
39.8
7.5
106.1
41.6
35.2
5.5
102.6
36.2
29.9
5.2
105.6
44.0
38.0
7.3
101.8
254.8
254.9
2.8
207.3
207.1
2.7
15.9
15.6
2.7
16.4
16.9
2.1
15.6
15.8
2.0
16.8
16.5
2.3
16.1
16.4
2.1
18.9
18.8
2.2
20.3
20.3
2.2
16.2
16.3
2.1
21.6
20.4
2.7
19.1
19.4
2.5
16.2
15.9
2.8
20.2
20.2
3.4
1 1,512.2
18,820.8
12 257.7
14,967.6
14,821.2
1,277.5
7,260.8
1,917.6
3,834.1
3,816.1
105.0
454.1
133.3
312.3
281.8
99.8
506.6
144.8
345.9
270.4
101.8
542. 8
164.8
307.1
315.8
98.9
569.1
158.7
294.5
316.6
109.0
633.5
188.8
347.3
335.9
124.2
680.0
189.6
419.9
322.3
138.3
711.5
204.5
420.3
374.0
111.6
693.6
192.3
389.9
371. 0
108.6
765.3
185.2
378.2
362.3
2 152 6
2,325.7
334.1
175.8
158.3
362.9
197.4
165. 5
373.4
206.7
166.7
387.1
209.7
177.4
384.6
197.5
187.1
364.0
175.6
188.3
318.2
159.7
158.6
276.0
124.9
151.1
26.5
PLASTICS AND RESIN MATERIALS
Production:
Phenolic resins
Polyethylene and copolymers..
Polypropylene
Polystyrene and copolymers
Polyvinyl chloride and copolymers
mil Ib
do
do
do
do
123.2 ' 120. 3
680.4 ' 704. 9
164.1 ' 177. 6
330.4 r 412. 7
373.5
358.1
142.7
780.8
216.5
490.7
398.0
MISCELLANEOUS PRODUCTS
Explosives (industrial), shipments, quarterly
nil Ib
Paints, varnish, and lacquer, factory shipments:
Total shipments f
mil $
Trade products f
do
Industrial finishes f
do
3, 672. 3 4, 026. 6
1, 870. 5 2, 079. 0
1,801.7 1,947.6
589.2
610.5
391.6
216.2
175.4
525.7
591.1
305.0
142.2
162.8
361.0
175.4
185.6
399.3
199.0
200.3
ELECTRIC POWER AND GAS
ELECTRIC POWER
Production (utility and industrial), total
mil. kw.-hr__ 1, 967, 288
Electric utilities, total
By fuels
_ _
By waterpower
do
do
do
Industrial establishments, total
By fuels
By waterpower
do
do
do
152, 206 158, 376
167,782 183, 860 186, 641 162, 083
1, 864. 846 1, 909, 108 145, 289 151,471 160,927 ' 177,085 ' 179,533 ' 155,073 154, 748 152, 334 168, 654 177, 873 156, 811
1,564,431 1, 609, 467 118,610 123, 781 133,843 ' 151,234 ' 156,810 ' 134,574 132, 133 127, 938 142, 709 151, 780 132, 328
300,415 299, 641 26, 679 27, 690 27,083 ' 25,851 ' 22,723 ' 20,499 22, 615 24, 396 25, 945 26, 093 24, 483
6,918
6,618
300
102 442
98, 905
3,537
6,906
6,582
324
6,855
6,559
296
6,776
6,518
258
7,108
6,875
232
7,010
6,776
234
Sales to ultimate customers, total (Edison Electric
Institute)
mil. kw.-hr._ 1,700,769 1, 733, 009 136, 294 133, 505 141,801 150,637 157, 013 154,635 142, 409 140, 141 146, 913 158,078 152, 998
Commercial and industrial:
Small light and power §
do
392, 716 418, 069 32, 114 32, 313 35, 703 38,400 39, 395 38, 276 34, 655 33, 483 34, 288 36, 288 35, 357
Large light and power§
do
689,435 661, 558 52, 851 53,530 54, 843 54,335 56,551 57,555 57,512 56, 923 56, 230 56,473 57, 114
Railways and railroads
Residential or domestic
do
do
4,258
554, 960
4,272
586, 135
379
46, 035
339
42, 424
319
45, 741
344
52, 275
326
55, 311
333
53,057
351
44, 430
338
43, 870
389
50,442
408
59, 083
404
54, 549
Street and highway lighting
Other public authorities
Interdepartmental
_
do
do
do
13, 314
40, 721
5,366
13, 907
43, 625
5,443
1,096
3,428
390
1,063
3,436
398
1,022
3,691
482
1,075
3,716
492
1,077
3,857
498
1,124
3,798
493
1,201
3,772
488
1,294
3,749
485
1,310
3,761
493
1,328
3,979
519
1,201
3,887
477
Revenue from sales to ultimate customers (Edison
Electric Institute). _ _
_
mil $ 39, 126. 8 46, 857. 6 3, 601. 9 3,543.0 3, 832. 4 4, 187. 2 4, 366. 8 4, 294. 4 3, 974. 4 3, 855. 3 4,043.9 4, 349. 5
4,245
GAS
Total utility gas, Quarterly
(American Gas Association):
Customers, end of period, total
Residential
Commercial ...
Industrial
Other
Seles to customers, total
Residential
Commercial
Industrial
Other
thous..
44, 734
45, 007
44, 552
44,400
45,007
do
do
do
do
41, 034
3,446
196
5S
41, 336
3,421
191
58
40, 932
3,375
190
54
40, 811
3,349
186
54
41, 336
3,421
191
58
tril. Btu_.
16,000
14, 882
3,546
2,790
3,567
do
do
do
do
4, 865
2,293
8 153
689
4,977
2,346
6,888
670
1,150
534
1,728
133
468
296
1,854
172
1,170
566
1,652
179
15, 360
19, 205
4,560
3,374
5,000
Revenue from sales to customers, total.. ..mil. $..
Residential
Commercial
Industrial
Other
do
do
do
do
2,012
8,441
6,^99
752
3,315
2,539
6,849
1 682
5,509
601
113
413
' Revised.
i Reported annual total; revisions ai e not dist ributed tc> the monthly data.
§Data are not wholly comparable on a year to Afear basis because c)f changes from (me
classification to another.
cf Data are reported ori the basis of 100 percent content of the
specified material unless otherwise indicated.
JM onthly re visions ba ck to 1971 are av£lil-
2,144
979
435
884
1,822
1 784
176
149
able upon requ est.
6 )In the 1973 BUS INESS STATISTICS the unit reads "millions of
t Monthly revisions for 1973 will be shown
gallons"; it shoiild read ' 'thousands of gall ons."
later.
SURVEY OF CURRENT BUSINESS
June 1976
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown
In the 1973 edition of BUSINESS STATISTICS
1975
1974
Annual
S-27
1976
1975
Apr.
May
June
July
Sept.
Aug.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
12.15
11.59
12.74
12.44
10.86
13.38
11.89
11.00
13.33
11.86
10.99
13.31
Apr.
May
FOOD AND KINDRED PRODUCTS; TOBACCO
ALCOHOLIC BEVERAGES 9
Beer:
Production
.
...mil. bbl.
156. 20
145. 46
Taxable withdrawals
do
12 58
Stocks end of period
do
Distilled spirits (total):
Production
mil. tax gal_. 162. 55
Consumption, apparent, for beverage purposes
mil. wine gal-- 1417.22
Taxable withdrawals
mil. tax gaL- 221.77
875. 75
Stocks, end of period
. _ _ _ _ _ _ . _.do
Imports
mil. proof gal
110. 98
Whisky.
Production
mil. tax gal
75.15
137. 04
Taxable withdrawals
-do _ _
822. 11
Stocks, end of period
_ _. _do_
Imports.
_
...
mil. proof gal_.
93.92
160. 51
148. 57
12.74
14.50
13.01
14.26
14.34
13.41
14.17
15.76
14.44
14.30
16.00
14.69
14.36
14.72
13.88
14.18
13.34
12.51
13.98
12.35
11.90
13.48
11.22
10.61
13.20
144. 23
11.79
11.87
10.81
7.57
6.31
11.83
18.85
16.97
16.24
13.09
12.80
15.71
i 423. 31
r 229. 41
793. 87
113.46
33.44
20.19
852. 07
9.93
33.84
19.47
841. 86
9.89
35.80
20.28
830. 03
9.01
33.38
17.08
822. 39
8.67
32.15
18.29
811.02
7.48
32.34
20.59
802. 92
8.71
36.86
23.91
797.38
12.72
39.55
20.72
794. 63
11.75
53.11
18.94
793. 87
12.59
30.21
17.56
787. 91
7.98
28.09
15.55
790. 63
7.27
20.85
782. 36
8.80
8.64
60.07
r 140. 82
737. 39
94.98
5.47
12.97
794. 26
8.39
5.13
11.92
786. 90
8.32
4.10
11.75
776. 47
7.50
2.42
10.04
770. 97
7.39
1.22
10.87
760. 46
6.05
5.41
12.81
752. 70
7.13
8.82
15.78
744.94
10.83
7.87
13.22
739. 59
10.01
8.06
11.19
737. 39
10.70
6.45
10.10
733. 65
6.71
6.60
8.85
731. 23
6.03
8.56
12.40
727. 36
7.09
7.08
118. 67
53.38
113.71
48.10
10.79
5.25
9.83
4.34
10.26
4.36
8.48
3.54
8.18
3.22
10.08
3.98
11.38
4.96
9.71
4.48
9.51
3.58
7.29
2.87
7.60
3.31
10.36
4.41
18.84
18.03
8.12
1.80
19.37
18.46
7.91
1.93
1.57
.97
9.51
.14
1.43
1.20
9.65
.12
.86
1.52
8.95
.13
1.51
.91
9.49
.08
2.14
1.05
10.45
.10
1.58
1.42
10.52
.14
1.84
2.85
9.42
.22
2.00
2.61
8.75
.30
2.05
2.61
7.91
.35
1.57
1.12
8.30
.18
1.26
.95
8.54
.13
1.89
1.32
9.03
.19
.20
384. 72
300. 18
451. 77
47.39
7 14
24.30
366. 37
4.00
8.82
24.24
347. 15
3.65
7.78
25.13
325. 14
3.98
8.97
22.40
306. 45
3.91
8.97
21.69
287. 46
3.83
62.87
24.32
319. 58
3.44
162. 20
29.97
440. 94
3.91
70.10
26.66
473. 10
5.28
21.41
27.86
451. 77
5.34
9.04
24.13
429. 85
4.68
9.26
7.56
21.46 30.39
414. 11 388. 19
5.18
3.31
4.61
354. 30
338. 20
6.01
2.72
3.87
6.12
13.24
80.01
143. 25
38.40
24.37
9.74
7.33
6.41
961.7
49.2
.674
975. 6
10.9
.818
100.9
66.7
.704
101.6
85.1
.705
88.3
99.6
.706
70.4
97.8
.788
58.9
78.9
.863
57.0
39.6
.900
66.6
27.1
.950
64.8
15.1
1.042
83.0
10.9
1.095
94.3
9.3
.878
85.4
16.5
.824
89.3
'31.2
.881
87.6
42.3
.918
2
mil. lb_. 2,930.
1
do
,858.6
2, 795. 9
1, 664. 5
243.4
152.9
264.2
168.4
273.2
170.7
249.9
153.0
226.3
133.8
213.0
115.6
218.6
120.7
210.9
117.0
238.1
135.6
249.0
149.3
241.2
149.7
275.0
165.8
297.0
187.2
Stocks, cold storage, end of period
.do
494.0
441.5
367.8
473.7
453.1
American, whole milk
do
307.0
420.8
380.2
408. 9
390.8
Imports
do
315.6
179.5
9.6
0.6
9.0
Price, wholesale, American, single daisies (Chicago). - - - _
_
$ per Ib
.973
1.044
.968
1.006
.987
Condensed and evaporated milk:
Production, case goodscft-.- .
._ mil. Ib . 1,035.2
932.5
77.9
97.1
96.6
Stocks, manufacturers', case goods, end of month
79.2
or yearcf
mil. Ib
104.0
58.6
60.3
84.2
Exports:
Condensed (sweetened)
_ _ _ do .
1.6
.1
.1
1.8
Evaporated (unsweetened)-.
_ _ d o __
40.7
51.6
4.5
4.3
4.0
Fluid milk:
Production on farmsj
do
115,553 115,458 10, 121 10,818 10,435
Utilization in mfd. dairy productst _ _. do
60, 821
59, 837
5,510
5,985
6,013
Price, wholesale, U.S. average
$ per 100 Ib
8.33
8.71
8.14
7.97
8.03
Dry milk:
Production:
Dry whole milkj
.
mil. lb_.
63.4
67.7
3.4
7.4
8.1
Nonfat dry milk (human food)J
do
1,019. 9 1, 024. 9
111.5
126.5
131.4
Stocks, manufacturers', end of period:
Dry whole milk
do
6.4
5.6
5.0
7.5
7.1
Nonfat dry milk (human food)
do
134.6
47.1
1C8.5
119.2
111.7
Exports:
Dry whole milk
do
45.2
35.5
4.6
3.3
2.8
Nonfat dry milk (human food)
do
14.5
13.4
6.7
90.6
48.9
Price, manufacturers' average selling, nonfat dry
milk (human food)
_
$ per Ib
.586
.633
.607
.605
.607
GRAIN AND GRAIN PRODUCTS
Exports (barley, corn, oats, rye, wheat).. .mil. bu.. 2, 220. 3 2, 528. 4 186.2
163.2
147.2
Barley:
Production (crop estimate)
do
3 304. 1 3 383. 0
4
Stocks (domestic), end of period
do
228.0
275.5
75.1
4
On farms
__ .
do
125.2
162. 0
29.5
4
Off farms. _ _ _.
do
102.7
113.5
45. 6
Exports, including malt§
do
1.0
56.7
31.8
2.0
3.4
Prices, wholesale (Minneapolis):
No. 2, malting
$ per bu
3.53
3.80
4.20
3.63
4.09
No. 3, straight
do
3.40
3.60
3.38
3.99
3.86
Corn:
Production (crop estimate, grain only), .mil. bu._ 34,663.6 5, 767. 0
Stocks (domestic), end of period, total
do
3, 620. 7 4, 431. 3
1, 149. 7
On farms.. _ _
do
2, 540. 7 3, 162. 0
804.0
Offfnrms
do
1,080.0 1,269.4
345.7
Exports, including meal and
flour.
do
103.2
81.6
1, 180. 8 1,321.8
74.1
Prices, wholesale:
No. 3. yellow (Chicago)
$ per bu
3.22
2.92
3.02
2.82
2.91
Weighted avg., selected markets, all grades
3.14
2.95
2.88
2.90
2.86
Oats:
Production (crop estimate)
mil. bu_. 3 613. 8 3 65<\ 9
4
Stocks (domestic), end of period, total
do
506.6
185. 7
501.1
4
On farms .
_
do
384.1
407.0
120. 4
4
Off farms
do
122.5
94.1
65 3
Exports, including oatmeal. . _
do
15.5
.7
30.0
2.8
.3
Price, wholesale, No. 2, white (Minneapolis) f
$ per b u _ _
1.66
1.72
1.82
1.67
1.63
r
Revised.
p Preliminary.
1 Includes Hawaii no mont ily data a vailable for Hawsdi.
2
Annual
total
reflects
revisions
not
distributed
to
3 c rop estirnate for he
the mont hs.
4
year.
Previous year's crop; new crop not repo rted unti beginnin g of ne-flT crop y 3ar
(July for barley and oats; Oct. for corn).
s Less thsm 50 thou sand poun ds.
c?1Condem ed
477.1
412. 9
13.4
447.9
386.6
10.8
421.2
359. 9
15.2
388.3
328.6
19.7
379.2
321.2
31.3
367.8
307.0
28.8
362.4
303.2
11.9
365.9 r 371. 1
305.9 r 312. 6
15.5
10.1
1.030
1.064
1.119
1.164
1.169
1.192
1.182
1.082
1.138
85.8
74.9
73.7
68.7
64.3
74.6
76.2
73.3
86.6
94.9
114.7
105.5
96.6
70.9
63.9
58.6
44.5
49.6
57.4
76.8
3>9
.1
4.7
4.9
.1
4.4
.4
5.4
.1
3.4
.1
4.2
.2
3.9
.1
4.2
.2
4.4
9,967
5,389
8.23
9,588
4,785
8.60
9, 068
4,322
9.22
9,173
4,341
9.69
8,823
4,042
9.99
9, 284
4,660
10.30
9,545
4,975
10.20
9, 248
4,830
9.79
10, 250
5,495
9.72
10, 450
5,714
"9.37
5.2
98.7
5.5
76.2
4.2
53.2
5.4
50.3
5.3
49.3
6.8
67.1
7.4
67.0
6.7
71.1
6.5
78.4
7.4
87.6
6.7
91.9
7.3
70.3
6.2
48.6
4.4
36.0
3.6
36.9
5.6
47.1
8.7
43.3
11.0
49.8
7.4
55.5
9.1
73.8
2 4
lo!?
3.4
.3
2.8
.6
3.6
.2
2.7
.2
2.9
.2
2.2
.2
3.2
.5
4.4
.2
4.0
.1
.607
.620
.646
.689
.705
.705
.659
.643
.635
.631
173.9
204.1
205.5
264.6
289.2
254.2
231.9
210.7
209.3
246.2
2.0
1.0
342.3
215 3
127.0
.4
3.3
1.4
275 5
162 0
113.5
5.0
1.1
.3
183.8
98 3
85 6
2.2
1.4
3.51
3.32
3.64
3.44
3.81
3.67
3.71
3.57
3.42
3.26
3.22
3.05
3.04
2.97
2.96
2.78
3.00
2.98
2.94
2.78
2,811.8
1, 899. 4
912 3
129.4
136.8
164.6
Rectifled spirits and wines, production, total
mil. proof gaLWhisky
do
Wines and distilling materials:
Effervescent wines:
Production. ._
mil. wine gal _
Taxable withdrawals.
__do
Stocks, end of period. __
do. __
Imports
.
_ _
do
Still wines:
Production
_
do
Taxable withdrawals. .
_ _
do
Stocks, end of period.. _
do
Imports
do
Distilling materials produced at wineries.-.do
401. 45
280. 04
451. 59
2 49. 58
r
f
DAIRY PRODUCTS
Butter, creamery:
Production (factory) J_
Stocks, cold storage, end of period
Price, wholesale, 92-score (N.Y.)_.
Cheese:
Production (factory), totalt
American, whole milkj
..mil. Ib
__do_ __
$ per lb._
(
4
4
401.8
342.0
12.0
1.166
69.2
89.2
359. 4
191. 3
4 igs 2
75.3
3.04
3.13
2.97
2.69
2.76
2.63
2.66
2.74
2.93
3.15
2.95
2.73
2.58
2.57
2.63
2.63
2.70
2.66
.4
626.8
496.1
130 8
1.9
2.9
501.1
407 0
94 1
2.5
.4
320.3
251 9
68.4
.1
.6
.5
133.0
2.8
4, 431. 3
3, 162. 0
1 269 4
165.6
153.1
137.9
.3
.921
1.146
11,184
3.03
2.94
2.81
1.69
1.56
1.63
1.59
1.67
1.62
1.62
1.68
1.67
1.65
1.71
§ E x eludes pe arl barle1y.
9S cattered monthly revisions> back to 1971 will be show n later,
t Efi ective M arch 1975 SURVEY , data an3 restatec to cover differen t market Data fo r earlier
period 5 will be shown 1ater.
\. Revisec1 month y data I>ack to 1971 will be show n later.
June 1976
SURVEY OF CURRENT BUSINESS
S-28
Unless otherwise stated in footnotes below, data
In the 1973 edition of BUSINESS STATISTICS
1974
1975
Apr.
Annual
1976
1975
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
i
FOOD AND KINDRED PRODUCTS; TOBACCO—Continued
GRAIN AND GRAIN PRODUCTS— Con.
Rice:
Production (crop estimate)
mil. bags9 -California mills:
Receipts domestic rough
mil Ib
Shipments from mills milled rice
do
Stocks, rough and cleaned (cleaned basis), end
of period
mil Ib
U12.4
i 127. 6
1,925
1,359
2,346
1,705
186
174
237
196
281
241
158
113
64
61
85
63
377
121
201
119
112
155
102
87
130
48
147
144
225
84
135
138
124
102
67
68
48
40
192
212
138
116
162
118
197
7,047
4,816
8,461
5,312
253
491
136
427
92
357
117
240
945
304
2,462
411
1,548
512
644
411
368
428
378
382
358
407
489
378
641
515
1,788
3,801
2,150
4,711
1,065
464
739
437
429
555
268
248
606
226
1,804
164
2,313
306
2,343
249
2,150
397
2,010
340
1,868
275
1,807
299
1,771
264
.252
.190
.205
.185
.195
.195
.195
.168
.168
.170
.178
.155
.155
.135
.130
.155
i 19.3
12.0
2.99
i 17.9
9.5
2.78
2.74
2.68
25.8
2.47
2.58
2.97
15 7
3.08
2.98
2.83
9.5
2.72
2.76
2.84
6.0
2.89
2.85
2.95
mil. bu..
do
do
do
U,796
U06
11,390
1 620
i 2, 134
1483
i 1, 651
r 1 860
335
571
'508
446
Stocks (domestic), end of period, total
On farms
Off farms
__ _
do
do
do
1, 107. 5
446.4
661.2
1,384.5
546.5
838.0
22 326. 6
132. 3
2 194. 3
1,891.1
762 1
1, 129. 0
1,384. 5
546.5
838.0
937.7
343.8
593.9
Exports, total, including
Whr>at only
do
do
944.0
919.4
1, 158. 2
1, 134. 5
78.2
77.0
69.3
65.3
79.8
77.2
102.2
99.7
113.5
111.2
127.2
125.5
125.3
123.6
119.2
117.8
93.6
92.3
92.6
91.6
73.3
72.4
77.6
76.4
79.5
76.8
5.24
4.74
4.60
3.96
4.57
3.76
4.41
3.45
4.25
3.40
4.66
4.01
4.88
4.31
4.99
4.36
4.81
4.29
4.57
3.92
4.32
3.79
4.34
3.81
4.57
4.08
4.58
4.01
4.38
3.74
4.53
3.76
5.53
4.84
4.94
4.96
4.39
4.69
5.08
5.01
5.10
4.64
4.29
4.35
4.51
4.49
4.21
4.21
242, 157
4,323
542, 904
247, 080
4,485
555, 891
20,599
378
46,375
20,361
371
45,718
19, 631
361
44, 375
21,156
384
47,430
21, 705
398
49,017
22,681
409
51,162
24,129
432
54,067
20, 113
360
45,241
20,532
368
46,000
21,034
374
47,204
19, 891 r 21,771
'385
352
44, 674 r 48,845
20, 981
369
46, 937
4,499
10, 563
3,907
10, 178
516
1,718
4,434
1,119
1,084
999
4,140
753
735
588
3,907
555
423
379
4,510
525
1,149
11. 887
11. 059
10. 552
9.365
10. 363
8. 975
9.863
8.550
9.550
8.088
10. 213
8.938
10.513
9.363
11. 238
10. 213
11.163
10.113
10. 675
9.650
10. 150
8.988
10. 150
8.963
10. 213
9.350
10. 713
9.563
10. 250
9.063
2,355
33,319
3,894
36, 904
284
2,889
270
2,851
276
2,898
344
3,085
345
3,141
385
3,319
443
3,584
357
3,116
381
3,267
369
3,403
327
3,032
415
3,492
353
3,053
41.89
36.49
46.19
44.61
33.42
3 34. 38
42.80
30.73
37.00
49.48
34.87
37.00
51.82
33.52
31.50
50.21
30.69
46.80
32.93
28 50
48.91
35.98
47.90
36.74
45.23
36.77
30 00
45.01
37.79
41.18
36.66
38.80
36.95
36.14
38.82
43.12
43.49
77, 071
64, 926
6,361
5,375
5,077
4,657
4,627
5,217
5,379
5,085
5, 508
5,400
4,873
6,325
5,827
Southern States mills (Ark., La., Tenn., Tex.):
Tteeeipts. rough, from producers
mil. lb._
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 lb. .
Rye:
Production (crop estimate)
mil bu
Stocks (domestic) end of period
do
Price, wholesale, No. 2 ( Minneapolis).. $ per bu_.
Wheat:
Production (crop estimate), total
Spring wheat
Winter wheat
Distribution
flour
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 lb )
Offal
thous sh tons
Orindings of wheat
thous bu
Stocks held by mills, end of period
thous. sacks (100 lb.)._
Exports
do
Prices, wholesale:
Spring, standard patent (Minneapolis)
$per 100 lb_.
Winter, hard, 95% patent (Kans. City) . do
51,416
10. 075
8.713
LIVESTOCK
Cattle and calves:
Slaughter (federally Inspected):
Calves
thous animals
Cattle
do
Prices, wholesale:
Beef steers (Omaha) t
$ per 100 lb
Steers, stocker and feeder (Kansas Clty)__do
Calves, vealers (Natl. Stockyards, Ill.)._do
Hogs:
Slaughter (federally Inspected). _thous. animals..
Prices:
Wholesale, average, all grades (Sioux City)
$perlOOlb._
Hog-corn price ratio (bu. of corn equal In value
to 100 lb. live hog)
Sheep and lambs:
Slaughter (federally Inspected) thous animals
Price, wholesale, lambs, average (Omaha)
$per 100 lb..
40.62
42.38
34.75
47.65
40.32
45.78
50.28
55.70
56.80
61.19
58.76
49.78
48.36
48.23
48.92
46.76
48.06
48.96
412.2
* 17.0
14.7
17.0
17.6
19.9
19.0
21.2
22.1
21.0
20.0
19.5
19.3
18.2
19.1
18.2
8,556
7, 552
627
616
614
635
621
758
701
515
584
582
513
570
561
45.00
41.00
44.12
44.00
45.00
48.13
49.33
47.75
51.25
60.75
39.76
44.68
48.88
50.75
46.12
36, 330
34, 572
2,966
2,751
2,704
2,697
2,716
2,940
3,164
2,846
3,011
3,128
2,780
3,399
3,009
803
714
1,634
675
864
1,694
801
65
125
726
79
111
654
64
135
578
70
148
518
77
149
518
73
157
571
76
135
668
79
168
675
82
112
672
85
175
677
93
117
r727
114
173
735
99
158
21, 222
415
53
1,191
22, 118
360
46
1,304
1,762
360
4
91
1,728
319
3
80
1,733
297
2
107
1,802
277
113
1,841
267
3
122
1,938
262
2
126
2,126
281
5
99
1,842
330
7
133
1,922
360
7
79
2,072
362
7
132
1,848
372
6
88
2,193
'404
7
138
1,898
403
6
125
.691
.760
.826
.821
.880
.849
.801
.824
.791
.764
.757
.700
.651
.603
.693
440
14
386
12
32
10
30
9
30
7
31
9
31
10
38
11
36
11
27
12
31
12
32
11
28
11
32
9
30
9
63.88
MEATS
Total meats:
Production (carcass weight, leaf lard In) , Inspected
slaughter t
mil. lb._
Stocks (excluding lard), cold storage, end of
period
mil lb
Exports (meat and meat preparations)
do_
Im ports (meat and meat preparations) . _ _ d o
Beef and veal:
Production, Inspected slaughter}:
do
Stocks, cold storage, end of period
do
Exports
.
do. _
Imports
_
d o '
Price, wholesale, beef, fresh, steer carcasses, choice
(600-70^ Ibs.) (East Coast)
$ per lb
Lamb and mutton:
Production, inspected slaughter. .
Pork (including
slaughter J
lard),
production,
mil. lb..
inspected
mil Ib
992
942
1,172
12, 068
14, 668
2
ted
Revised.
Crop estimate for the year.
Pre vious yea r's crop; n ew crop ilot repor
4
Efuntil July (beginning of new crop year).
3 Average for Jan. -June, Au£;., and N ov.
sjun e 1
fective with June 1975 SURVEY, average represents ' 'market" year (Dec .-Nov.).
r
l
.667
1,174
1,080
1,024
903
1,002
977
1,058
963
864
845
9 Bags of 100 It s.
t!Effective Septemb er 1975 S URVEY, (lata are
estima te of 197() crop,
restate d to cov er differe nt price (900-1 1(X) Ibs. onl y). Data for earlier perioc s will be shown
later.
t Scat tered mo nthly re\asions ba ckto!97 1 are avallabl&upc n reques t.
SUEVEY OF CURRENT BUSINESS
June 1976
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown
In the 1973 edition of BUSINESS STATISTICS
1974
1976
1975
1975
Annual
S-29
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
FOOD AND KINDRED PRODUCTS; TOBACCO—Continued
MEATS— Continued
Pork (excluding lard):
Production, inspected slaughter
mil. Ib
Stocks, cold storage, end of period. ._ __ do _
Exports
do
Imports
-_
_
do
Prices, wholesale:
Hams, smoked composite $perlb
Fresh loins, 8-14 Ib. average (New York) _ _ d o
POULTRY AND EGGS
Poultry:
Slaughter (commercial production) __ mil. Ib
Stocks, cold storage (frozen), end of period, total
mil. lb_.
Turkeys
do
Price, in Georgia producing area, live broilers
$ per l b _ .
Eggs:
Production on farms
mil. cases O.
Stocks ,cold storage, end of period:
Shell _ _ __ _
-__
thous casesO
Frozen
_
mil Ib
Price, wholesale, large (delivered; Chicago)t
$ per doz
12, 856
307
104
362
2
10 724
249
9
07
327
345
10
29
876
324
13
26
842
284
19
23
773
230
23
28
755
186
716
787
801
859
953
1 043
29
20
861
190
19
26
896
222
17
30
864
269
19
9g
943
249
22
97
906
236
17
36
1.103
1.177
1 060
1.134
1 109
1.016
905
840
861
846
1.069
1.028
.986
.980
811
222
27
23
1 049
r 248
38
28
963
262
22
27
.948
.994
l!l22
1.079
.974
1.170
825
831
884
967
942
978
834
914
857
758
912
340
180
316
163
345
193
392
249
470
328
542
410
600
472
406
286
314
300
269
250
238
.269
.235
.255
.290
.310
.305
.300
.290
.280
.250
.240
.255
.255
.240
178. 8
14 7
15 1
14 5
15 0
15 0
14.6
15.1
14 8
15 9
15 3
14 4
15 4
14 8
36
54
22
36
26
43
68
45
82
48
84
52
80
52
72
51
55
47
40
42
22
qc
13
32
21
29
26
24
9Q
9Q
.598
.594
.516
.513
.517
. 539
.597
.633
.591
.668
.738
.709
.642
.595
.586
221 1
933 o
17 9
17 4
18 7
1 fi A
19^
7RO
17.4
21.5
775
775
18.6
.685
3^.0
.760
33.9
.735
16.4
.755
28.8
.740
22.4
.883
882
678
.786
.991
.816
10, 706
10, 434
456
275
314
195
6
6.211
6 183. 6
6
1,067
IQr
187
ifin
14ft
891
1.057
11C
.250
MISCELLANEOUS FOOD PRODUCTS
Cocoa (cacao)
beans:
Import 0 (incl shells)
thous Ig tons
982
7cn
Coffee (green):
Inventories (roasters', Importers', dealers'), end
of period
._ thous. bagsd"
Roastings (green weight)
do__-
3,003
18, 569
3, 556
18,551
Imports, total
do
From Brazil
do
Price, wholesale, Santos, No. 4 (N.Y.) $ per Ib
Confectionery manufacturers' sales
mil $
19 248
2 725
.702
9 771
9Q
3
i
2
Fish:
Stocks cold storage end of period A
289
748
678
830
7cc
coc
CQC
1 448
277
1 365
244
1 736
473
907
9
09
1 R°.
1 626
418
1 fiQ
1 868
2,533
3,604
3,556
4 fi9fi
3,851
4, 743
2,872
4,469
1 784
1,587
1,299
C
1,664
123
141
195
294
300
316
251
241
259
007
314
335
351
356
334
119
164
789
1 138
1,263
862
391
543
94 c
CCA
1,744
2,311
146
176
270
282
481
321
1,636
183
.935
mil Ib
433
356
OPT
305
one
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
4 620
6 895
1 150
5 153
191
195
107
11 273
11*237
2,800
10 133
q ggo
2,712
9A,Ki
1 005
767
759
778
774
980
970
^875
1,946
1,032
958
916
909
2,299
1 174
1,275
936
930
2, 521
1,415
2,088
2,712
3,171
3,201
'2,933
p 2, 749
sh tons
62 734
205 989
21 325
17 648
97 288
48 067
17 501
27, 250
20 814
9,707
8,789
5, 972
7,860
6,797
3,628
thous sh tons
do
do
3 5 774
1 414
3 690
300
54
4
223
450
o
3
403
o
1
289
3
596
75
9
432
118
33
201
21
61
225
2
24
220
0
4
287
28
32
253
30
5
382
24
47
194
225
.175
152
.155
.156
.154
.150
.164
.156
1 574
.205
1 419
.207
1 383
.194
1.347
.209
1 352
.203
1.317
.221
1.336
.210
15, 779
15, 805
Deliveries total 9
For domestic consumption
Stocks, raw and ref., end of period
ExportSj raw and refined
Imports:
Raw sugar total 9
From the Philippines
Refined sugar total
Prices (New York):
Paw fwholesale
Reftne 1:
Retail (incl N E New Jersev)
Wholesale (excl. excise tax)
Tea, imports
_ _ _ _ _
do
do
do___
(4)
Q9
(5)
(5\
415
148
832
809
870
852
961
932
o
$ per Ib
289
229
282
195
148
$ per 5 Ib
$ per Ib
1 680
!320
1 986
2 061
.319
1 650
311
2 285
.361
thous Ib
3 178, 326
159 287
13 468
14 694
3 712 6
124 7
307 9
121 1
3 964 3
90 8
1
996
9g
1
883
875
769
760
1 726
268
283
1.611
.232
12 170
9 915
11 276
12, 404
17 594
13, 940
11,843
11,842
12,309
288.9
112 9
968 9
113 7
285 1
103 0
999 6
88 7
331.2
93.0
402.8
100 2
337.1
105 6
332.3
194. 7
331.2
114.5
307.6
119.7
r
r
329 2
97 g
316 5
95.1
326 3
76 9
345 4
79 4
344 9
71 8
330.4
73.3
368 7
89.1
326 2
104 5
324 5
90. 8
341.9
87.0
328.7
104.4
T
9 399 3
60 1
181 7
75 8
183.0
64 4
180 6
63 6
173 7
66 6
178 7
52 6
216.6
58.6
212.8
60 2
219.7
64 8
241.6
60 1
265.1
66.9
.525
.544
.502
.494
.486
.486
.503
.490
.490
.490
575.8
665.0
33 4
512 9
649 7
37 8
46 8
68.9
25 7
40 8
55.9
23 7
35 3
44.3
29 9
33 8
46. 1
22 1
34 6
44.8
24 9
36.2
49.6
23 9
42 1
57.2
24 5
37.7
43.2
33 4
5, 526. 6
3, 029. 2
380.3
4 651 5
2, 908. 4
276.6
405 2
238.0
318.0
371 5
237.4
288.5
358 3
239.6
242. 5
354 5
230.7
256. 2
347 2
236.2
257. 4
363 9
2,50.7
308.0
397 3
277.1
283.2
350 5
228.3
288.1
259
1 470
875
222
FATS, OILS, AND RELATED PRODUCTS
Baking or frying fats (Incl. shortening):
Production +
mil Ib
3, 702. 8
Stocks, end of period©
do
134.1
Salad or cooking oils:
Productiont
do
4 110.6
Stocks, end of period©
do
96.5
Margarine:
Production^...
do
2, 397. 7
Stocks, end of period©
do
64 3
Price, wholesale (colored; mfr. to wholesaler or
.512
large retailer; delivered)
$ per Ib . .
Animal and flsli fats:
Tallow, edible:
Production (Quantities rendered) t
mil Ib
Consumption in end products^
do
Btocks end of period!
do
Tallow and grease (except wool), inedible:
Production (Quantities rendered)*
do
Consumption in end products!
do
Stocks, end of Deriod If
.
do_
r
2
Revised.
» Preliminary.
1 Average for Jan. and Feb.
Because of a change in
specification, effective June 1974, prices are not comparable with those for earlier periods;
the
1974
average
is
for
7
mos.
(June-Dec.).
3
Reflects
revisions
not
available by months.
4
5
6
Less than 500 sh. tons.
Series discontinued.
Effective with June 1975 SURVEY,
average represents "market" year (Dec.-Nov.).
A Monthly revisions for Jan.-Aug. 1974
are available.
349. 2
110 4
320.4
123 7
r
392. 2
99. 8
357.8
113. 9
259.6
82.1
225.8
101.1
203.2
71 6
.448
.436
.431
.431
42 6
45.3
37 8
43.1
49.6
38 1
41.6
50.3
43 0
'51.3
'56.0
r 44 6
44.0
51.6
46 6
420 6
249.4
276.6
442.5
259.4
275.1
410. 2
257.2
282.2
'455 5
432.3
270.8
322.5
r 280. 1
•• 306. 6
.431
O Cases of 30 dozen.
cfBags of 132.276 Ib.
§Monthly data reflect cumulative revisions
for prior periods.
9Includes data not shown separately: see also note "§".
©Producers' and warehouse stocks.
^Factory and warehouse stocks.
tBeginning 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.
{Monthly revisions back to 1972 will be shown later.
SURVEY OF CURRENT BUSINESS
S-30
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown
In the 1973 edition of BUSINESS STATISTICS
1974
1975
1975
Apr.
Annual
June 1976
May
June
July
Aug.
1976
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
FOOD AND KINDRED PRODUCTS; TOBACCO—Continued
FATS, OILS, AND RELATED
PROD UCTS— Continued
Vegetable oils and related products:
Coconut oil:
Production, refinedj
Consumption in end products};
Stocks, refined, end of period ^§
Imports
mil. Ib
do
do_.
do
540.1
726.0
26.6
542.3
716.1
865.3
26.7
869.1
53.4
70.7
33.9
53.4
56 1
67*7
27 6
90 8
60 0
71.8
26.9
27 6
59.3
61.8
29.4
38.2
61.4
75.2
28.0
64.6
66.1
81.1
28.6
76.3
77.0
87.8
36.3
101.6
68.4
78.5
35.1
178.5
68 2
76.8
26.7
80 4
70.9
80.3
36.6
100.7
63.7
78.4
39.0
142.9
do
do
do
do
518.3
500.7
473.0
52.6
458.8
502.6
475.5
39.5
37.6
38.9
35.4
71.0
40 6
38 0
34*8
85 6
38 9
41.0
37.9
90 3
40.5
38.7
38.0
87.5
35.2
39.5
39.5
65 3
40.3
46.4
42.6
52.4
39.8
51.1
47.8
48.4
40.3
46.4
41.0
43.2
35 4
44.5
40.7
39 5
43.1
44.7
44.0
46.5
39.3
43.9
39.1
51.3
Cottonseed oil:
Production: Crude
__do__
Refined
do
Consumption in end products^
. - do
Stocks crude and ref end of period If
do
Exports (crude and refined)
do
Price, wholesale (N.Y.)
- _
- $ per Ib
1, 512. 7
1 262 7
832.4
111 A
606.1
.410
1,215.0
1,112.6
660.7
160.3
656.5
.322
111.6
109.0
56.0
207.9
56.8
.305
105 8
102 4
66 7
173 1
92.6
.265
84 1
93 0
53.8
164 0
17.8
.265
72.3
74 0
56.8
146.2
69.7
.348
76 1
68 0
49.6
126 5
43.7
.378
* 56.1
73 1
46.7
136.1
28.9
.343
76.3
53 6
51.0
125.5
21.3
.323
101.0
75 5
50.0
153. 1
46.7
.293
103 2
97 1
53.6
160 3
36.7
.278
118.1
99 6
45.0
159.7
76.2
.298
Soybean cake and meal:
Production . .. . __
thous. sh. tons
Stocks (at oil mills), end of period
do
18, 543. 2
496.7
1,209.3 1,355.1
383.8
359.4
1,475.6
368.3
1,289.9 1,645.2
354.7
318.8
1,642.1
407.3
1,752.8
341.7
1,689.8
351.5
1,562.8 1, 758. 9 1, 763. 8
337.2
388.3 ' 330. 7
Soybean oil:
Production: Crude
mil Ib
RefinedJ
do
Consumption in end products^
do
Stocks, crude and ref. end of period Tf do .
Exports (crude an^ refined)
do
Price, wholesale (refined; N.Y.)
$ per l b _
8, 704. 9
6,811.5
7, 039. 0
673.6
1,606.7
.366
757.6 r 852. 4
843.7
646.5
610.2
558.7
617.6 * 687. 3
626.8
913.2 •• 946. 1 1, 053. 7
55.5
120.2
89.6
.219
.224
.220
Corn oil:
Production: Crude
Refined
_
Consumption in end products^
Stocks, crude and ref., end of period U _
16,915.8 1,313.9 1, 190 7
438.4
341.7
410 8
79.6
••88.1
••34.2
64.5
76.2
82.8
32.0
93.2
r
41.4
41.1
39.3
••55. 2
42.0
40.6
39.0
64.9
111.2 * 100. 2
89 6
91 6
52.1
48.3
184.1 ' 204. 1
49.3
51.8
.318
.323
79.9
75 7
48.6
198.8
42.8
.298
7, 861. 4
6, 422. 5
6, 830. 3
799.9
758.0
.286
600.9
497.0
540.3
662.2
57.6
.296
557 6
467 9
527 4
606 7
72.9
.248
557.8
489 6
531.3
530.6
55.7
.243
623.9
509.3
555.3
544.3
65.3
.304
674.5
550 9
562 8
567.1
13.1
.340
599.8
538.3
604.8
560.6
13.5
.285
783.9
666.9
672.0
568.0
43.8
.266
776.7
617.3
609.2
657.7
78.9
.243
846.7
604.6
624.4
799.9
40.4
.226
807.4
611.9
658.0
844.8
32.6
.222
TOBACCO
Leaf:
1
1, 990 12,184
Production (crop estimate)
mil lh
Stocks, dealers' and manufacturers', end of period
4 461
4,738
mil Ib
651,415 563, 005
Exports, incl scrap and stems
thous Ib
^ 299, 946 320, 318
Imports, Jncl. scrap and sterns
do
46, 669
26, 144
44, 172
27, 805
3,944
32, 073
28, 566
23, 202
26, 390
39, 452
25, 082
4,312
44, 862
25, 229
52, 676
21,888
73, 908
28, 403
4 738
62 858
18, 168
93, 233
28 ^73
51,972
32, 314
4,568
47, 077
27, 338
43, 316
22, 634
Manufactured:
Consumption (withdrawals):
Cigarettes (small):
Tax-exempt
Taxable
Cigars (large) taxable
Exports cigarettes
4,547
51,838
394
3 313
4 464
49 171
397
3,623
4,803
49, 477
417
3,357
5,667
46, 301
347
4,170
5,239
50, 378
371
5,294
5,632
52, 750
389
4,104
6,383
58, 923
448
5,371
5 293
48 Oil
348
4,165
5 424
42, 678
286
4 559
6,009
51,921
319
3,906
6,297
51,025
288
6,350
6,402
58, 806
363
4,910
5,865
49, 615
337
5,088
millions
do
do
do
59, 272
576, 173
5 009
46 901
62, 279
588, 345
4,475
49 895
.263
.213
LEATHER AND PRODUCTS
HIDES AND SKINS
Exports:
Value, total 9
. _
thous. $
Calf and kip skins
thous skins
Cattle hides
thous. hides
Imports:
Value, total 9
Sheep and lamb skins.
Goat and kid skins
thous $
thous. pieces
do
Prices, wholesale* f.o.b. shipping point:
Calfskins, packer, heavy . 9H/15 Ib .
Hides, steer, heavy, native, over 63 Ib
$ per Ib
_do _ .
LEATHER
Production:
Calf and whole kip _
thous. skins
Cattle hide and side kip
thous hides and kips
Goat and kid
thous. skins
Sheep a n d lamb
_ _ _ _ _ _ _ _ _ _
do
Exports:
Upper and lining leather
thous. sq. ft
Prices, wholesale, f.o.b. tannery:
Sole, bends, light
... index, 1967=100
Upper, chrome calf, B and C grades
index, 1967=100
339, 062
2 163
18 428
296, 279
2,403
21, 269
25, 093
174
2,045
24, 553
230
1,834
23, 361
115
1,719
22, 532
166
1,551
22, 965
159
1,548
25, 782
193
1,714
24, 921
284
1,678
28, 968
197
1,965
28, 115
209
1,753
34, 804
195
2,172
28, 296
151
1,658
42, 391
247
2,407
77 500
15, 732
583
78, 100
15, 520
879
6,100
1,603
62
5,100
1,162
46
6,300
1,024
56
7,900
1,668
60
6 200
1,096
72
7,000
1,372
106
7,900
1,311
54
9 000
1,145
32
6,500
849
123
6,000
929
116
6,000
959
137
11,700
2,973
201
.644
.231
3.350
.234
.285
.275
.500
.253
.258
350
.253
.350
.253
.350
.258
.350
.280
.350
.308
.450
.263
.550
.315
.550
.298
.300
148, 565 2 184,104
14, 624
16, 735
18, 473
13, 341
16, 979
14, 714
17, 131
16, 737
12, 909
14,517
17, 367
18, 157
151. 1
142.4
146.7
146.7
146.7
163.9
166.8
182.6
182.6
182.6
182.6
189.8
433 631
33 856
33 745
35 786
38 322
39 908
45 446
36715
37,395
41 291
r
40 136
45 908
r
33, 346
5,386
1,154
r
250
37 945
6,295
1,333
335
451
587
.800
.349
.800
.390
194.1
207.1
16 824
13, 889
158.8
4
LEATHER MANUFACTURES
Shoes and slippers:
Production total
thous pairs
Shoes, sandals, and play shoes, except athletic
thous pairs
Slippers
do
Athletic..
do
Other footwear ..
do
Exports
_
do
Prices, wholesale f.o.b. factory:
Men's and boys' oxfords, dress, elk or side
upper, Goodyear welt
index, 1967=100..
Women's oxfords, elk side upper, Goodvear
welt
index, 1967=100..
Women's pumps low-medium quality do
452 955
355 147
85 502
9,890
2 416
350 281
68, 526
11,357
3 467
27 002
5,637
923
294
26 196
6,330
974
245
28, 581
6,090
870
245
28 829
4,338
713
250
30, 485
6,446
1,053
338
32, 047
6,447
982
432
35, 859
8,059
1,191
337
29,447
6,017
981
270
32 332
3,882
945
236
34, 998
5,005
1,055
233
3 993
2 4, 332
464
442
406
373
363
349
450
375
369
369
155.1
165.0
164.6
164.6
164.6
164.6
164.6
168.1
168.1
168.1
168.1
170.5
173.6
175.9
177.1
177.1
150.5
150.5
150.5
150.5
154.3
154.3
154.3
154.3
135 9
156.8
135 9
156.8
135.9
160.0
135.9
161.3
138.8
161.3
138.8
144.0
127 8
151.8
5133 5
150.5
r
Revised.
* Crop estimate for the year.
2 Annual total reflects revisions not distributed to the monthly data.
4
3 Average for Jan.-May and July-Dec.
Jan-June and Aug.-Dec. 5 Jan., Feb., and
Dec.
34 130
9 Includes data for items not shown separately.
If Factory and warehouse stocks.
§ Effective Oct. 1974 SURVEY, data are restated to exclude stocks of crude coconut oil; comparable data prior to Aug. 1973 will be shown later.
J Monthly revisions back to 1972 will be shown later.
SURVEY OF CURRENT BUSINESS
June 1976
1975
1974
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown
In the 1973 edition of BUSINESS STATISTICS
1975
Apr.
Annual
S-31
May
June
July
Aug.
1976
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
LUMBER AND PRODUCTS
LUMBER—ALL TYPES 9
National Forest Products Association:
Production total
roil
Hardwoods
Softwoods
bd ft
do
do
1
34.463
6,904
27, 559
1
31,851
5,506
26, 345
2 779
428
2 351
2,849
435
2,414
2 814
492
2 322
2,797
471
2,326
2 914
511
2 403
2 986
489
9 497
3 147
511
2 636
2,530
49 S
2,032
2,500
446
2,054
2,821
451
2,370
2,804
513
2 291
3,144
512
2,632
1
32, 125
5,443
26, 682
2 843
443
2 400
2,820
456
2,364
2,739
459
2 280
2,820
444
2,376
2,851
505
2 346
3 061
510
*> 551
3,097
516
2 581
2,689
514
2, 175
2,647
433
2,214
2,762
463
2,299
2,790
521
2,269
3,107
521
2,586
Shipments total
Hardwoods
Softwoods
do
do
do
133,811
6,583
27, 228
Stocks (gross) mill enn of period, total
Hardwoods
Softwoods
do
do
do
5 109
780
4,329
4,835
843
3,992
5 000
827
4,173
5,052
806
4,246
5 124
836
4,288
5 101
863
4,238
5 165
870
4 295
5 090
849
4 241
5 140
844
4,296
4,982
829
4,153
4,835
843
3,992
4,894
831
4,063
4 926
823
4,103
4 963
814
4,149
do
do
1,668
7,249
1,643
5,968
130
671
113
589
125
671
155
677
151
431
142
422
126
388
131
415
131
552
132
477
147
527
139
627
161
701
mil. bd ft
do
7,367
316
7,651
550
635
567
598
462
674
509
682
581
551
532
724
549
693
551
642
592
559
550
721
601
660
638
761
654
760
653
do
..do _
_ _ .-.do
7,777
7,730
982
7,338
7,417
903
599
611
996
684
703
977
654
627
1,004
590
610
984
619
600
1,003
715
707
1,011
688
691
1,008
548
601
955
549
601
903
711
670
944
666
623
987
756
745
998
756
761
993
598
158
440
505
125
398
52
14
38
32
8
24
38
11
27
53
11
43
55
15
40
44
13
31
35
9
26
46
10
36
50
11
39
48
20
28
41
8
33
38
8
30
63
29
34
158. 84
158. 88
156. 60
169. 67
161. 54
165. 47
169. 76
166. 79
160.09
157. 56
166. 40
175. 43
178. 29
184.90
180. 05
i 6, 699
344
i 7, 074
453
629
427
533
403
569
401
627
391
647
408
583
381
709
378
638
405
620
453
593
453
623
478
590
459
i 6 790
6, 965
615
633
606
557
586
571
615
637
609
630
599
610
700
712
584
611
538
572
636
593
583
598
623
609
Exports total sawmill products
Imports, total sawmill products
SOFTWOODS
Douglas fir:
Orders, new
Orders, unfilled end of period
Production
Shipments
.
_
Stocks (gross), mill, end of period.
Exports, total sawmill products..
Sawed timber
..
_ _ _ _
Boards, planks, scantlings, etc
__
_
do
do
do
_.
Prices, wholesale:
Dimension, construction, dried, 1" x 4", R. L.
$per M bd. ft._
Southern pine:
Orders, new
Orders, unfilled, end of period
mil. bd. f t _ _
do
Production
Shipments
do
do
Stocks (gross), mill and concentration yards, end
of period
mil bd ft
Exports, total sawmill products .
M bd. ft
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.rf 1
1967=100..
Western pine:
Orders, new
Orders, unfilled, end of period
Production
Shipments.
Stocks (gross), mill, end of period _. _.
1
1,309
1,134
1 197
1 246
1 261
1 239
1 218
1 207
1 195
1 168
1 134
1 177
1 162
1 176
76, 276
67, 502
7 593
5,244
5,175
6,414
3 930
7,595
4,699
7,445
9 591
8 576
11 346
14, 241
10, 774
188.4
166.6
160.5
174.0
174.7
174.5
170.8
171.5
171.4
176.5
182.0
190.5
198.6
217.7
217.7
219.7
229.2
226.9
230.7
231.8
230.7
225.2
225.2
225.2
220.9
222.0
223.0
227.4
228.5
231.8
231.8
231.8
8,788
392
8,867
538
791
523
720
470
748
484
869
546
740
513
936
560
838
542
725
559
743
538
751
584
725
578
830
530
851
522
do
do
8,973
8,952
8,599
8,721
753
764
794
773
735
734
805
807
823
773
852
889
895
856
654
708
706
764
695
705
715
731
886
878
920
859
. do. _
1,344
1,222
1,262
1,283
1,284
1,282
1,332
1,295
1,334
1,280
1 222
1,212
1,196
1,204
1,265
151. 38
131. 97
154 31
173 62
170 71
145 95
141 17
131 78
128 87
127. 30
154 01
177. 50
198. 52
209. 92
108.3
2.5
123.9
104.2
4.5
93.8
91
4 5
80
3.8
7 6
3.2
86
2.9
9 3
2.6
80
3.0
94
3.3
8.3
4.4
88
4.5
12 6
6.7
84
5.4
8 2
4.6
9 8
5.2
108.5
19.2
98.8
12.5
89
9 4
15 4
85
8.3
15 7
80
8.1
14 9
9 2
8.2
15 9
84
9.0
15 4
7 9
7.4
15 8
85
8.7
15.7
6.2
7.2
14.7
70
8.3
12 5
8.0
10.4
10.2
8.4
9.2
9.6
9.5
8.2
11 0
8.7
8.6
11.2
mil. bd. ft
do
__ _ _ _
i 6, 921
o i 6, 760
176.06
Price, wholesale, Ponderosa, boards, No. 3, 1" x
12", R L (6' and over)
$ per M bd ft
189. 73
HARDWOOD FLOORING
Oak:
Orders, new
Orders, unfilled, end of period—
inil 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
5 833
8 696
101
2 953
9 608
60
270
871
13
1 065
6
256
1 005
4
264
843
2
271
809
2
202
771
3
228
657
4
185
757
4
182
646
3
150
676
6
177
654
4
212
600
4
229
743
6
15 970
246
355
12 012
'373
494
959
27
92
856
27
47
927
55
9
805
53
31
748
28
27
697
34
29
818
32
53
903
21
51
1 153
1 007
966
26
44
1 034
33
31
948
52
18
i 55 250 i 45 942
i 51 335 i 36 728
U05
483 i 82 177
1
8 860
8 408
4 231
3 428
7 488
7 559
4 000
3 219
6 879
7 920
3 664
3 008
6 324
8 279
3 411
9 443
5 748
8 '403
e'i35
3 581
2*421
8 243
3 792
3*017
6*703
8 415
3 912
3 292
6 815
8*791
3 388
2*808
6 212
8'792
3 505
2*725
6 133
8 860
3 758 r 3 818
2 836 »-3 205
6 836 r 6 904
8 489 r 8, 581
P4391
p 3909
p 8 025
v 8,840
70.83
106. 22
82.06
82.35
68.61
104.20
69.00
72.50
SI. 50
82. 50
Revised.
p Preliminary.
i Annual data; monthly revisions are not available.
9 Totals include data for types of lumber not shown separately.
d* Through March
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., I" x 4", S.L.
56.04
sfi sn
64.89
65. 50
74.34
77.50
63.54
63. 00
59.12
61.50
60.42
64.00
65.14
74. 50
72.09
80.50
80.98
86.00
Imports:
Steel mill products
Scrap _ _ _ _ _ _
Pig iron
_
do
do
do
9gg
37
33
77
44
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
T
87.75
93.00
80.42
83.50
*1 Effective with 1974 annual and Jan. 1975 monthly figures, data reflect expanded sampl
and exclusion of direct-reduced (prereduced) iron, previously included in scrap series'
c
Corrected.
S-32
SUEVEY OF CUREENT BUSINESS
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown
In the 1973 edition of BUSINESS STATISTICS
1974
1975
Annual
June 1976
1976
1975
Apr.
May
June
July
Aug.
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
i 84 355
i 85 112
48 029
80 316
76 561
46 742
U.S. and foreign ores and ore agglomerates:
Receipts at iron and steel plants
do
Consumption at iron and steel plants
do
Exports
do
128 306
129 078
9 323
112 718
106 230
2 538
Stocks, total, end of period
At mines
At furnace yards
At U.S. docks .
Manganese (nn. con tent), general imports
do
do
do
do
i 57 924
i 9 4Q5
45 247
3 272
do
851
68
11
59
4
8 005
8 454
4 027
8 023
9 455
4 738
7 682
9 070
4 692
8 013
9 116
3 472
7 471
7 645
4 534
6 160
6 850
4 226
5 755
5 796
3 062
5 801
5 277
4 039
5 413
2 578
2 703
5 459
1 812
1 645
5 812
2 245
2 022
2,443
8 944 12 989
9 182
9 781
997
' 152
12 583
8 531
12 495
7 825
11 342
7 949
10 118
8 419
9 423
8 279
8 571
7 958
8 3^6
3 916
8 849
4 111
8 923
2
4 690
10, 063
21
7,765
9,926
200
351
418
485
448
63, 076
21 984
37 181
3 911
35 085
3 591
39
83
68
7,519
6 636
6 754
6 664 r 5 812 P 7 626
1 438 r 1 452 v 1,423
7,601
182. 38
182. 38
182. 38
182. 38
r 907
960
1 060 r 1 122
r 534
894
1 309
653
71
67
37
r 68
86
49
11,439
88.4
12,136
90.8
6 619
5 906
4 019
52 299
17 444
55
17
36
2
750
014
450
286
113
268
231
614
39 R4.4.
9 911
1 033
138
116
i 95 909
79 923
i 95' 792 i 79 554
i 753
1 427
7 432
7 398
6 990
6 915
828
886
239
57
14
40
2
594
299
527
768
232
61
12
45
3
192
166
916
197
053
63 855
11 723
48 676
3 456
84
77
88
6 239
6 236
944
5 968
5 884
1 059
395
300
66
11
50
4
095
549
376
170
66
10
51
4
600
859
521
220
333
67
10
52
4
265
786
133
346
1
9Q3
68
11
59
4
113
268
231
614
51
112
43
98
6 245
6 286
1 300
6 292
6 298
1 333
5 981
5 958
1 387
6 234
6 210
1 427
182. 38
182. 38
182. 38
182. 38
1 006
1 106
969
1 202
902
1 003
577
614
495
934
463
66
14
47
4
855
696
298
861
65
18
42
4
101
Pig Iron and Iron Products
Pip iron:
Production (excluding production of ferroalloys)
tlious sh tons
Consumption _do
Stocks, end of period -.- _ .
do
Price, basic furnace H__
---$ per sh. ton_-
Castings, gray IronOrders, unfilled, for sale, end of period
thous sh tons
Shipments, total
do
For sale.
do
Castings, malleable Iron:
Orders, unfilled, for sale, end of period
Shipments, total. _ _
For sale. _
6 031
6 049
1 120
182. 38
122. 61
181. 76
182. 38
182. 38
182. 38
182. 38
1 416
15 661
8 664
994
12 445
6 435
1 249
1 144
1 137
1 048
1 094
1 019
1 105
133
912
553
fi4.
91
63
37
87
62
36
81
61
35
80
o-i
730
430
50
29
57
36
72
66
39
72
73
44
69
59
35
64
59
35
66
65
38
10, 667
9,864
8,744
8,370
8,648
9,295
9,214
8,709
8,846
9,835
74.4
9,907
80.1
11, 294
85.4
1 232
1 133
1 081
1 034
QC7
do
do
575
535
512
858
459
182. 38
I
AQfi
972
526
994
507
T
Steel, Raw and Semifinished
Steel (raw):
Production . .
_ thous. sh. tons- i 145,720 1 116,642
Rate of capability utilization*
_ percent
176.2
Steel castings:
Orders, unfilled, for sale, end of period
thous sh tons
1 527
748
Shipments, total _
do
2 091
1 927
For sale, total
do
1 739
1 575
183
147
174
138
165
132
132
106
126
103
881
161
128
831
176
143
786
145
119
748
142
122
691
158
133
r 545
155
131
609
176
147
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
do
do
do
do
Bars and tool steel, total
Bars: Hot rolled (incl light shapes)
Reinforcing
Cold
finished
do
do
do
do
i 18
11
i5
2
Pipe and tubing
Wire and wire products,Tin mill products, .
Sheets and strip (incl. electrical) total
Sheets: Hot rolled
Cold rolled _
do
do
do
do
do
do
9
3
7
i 44
15
18
tons
By market (quarterly shipments):
Service centers and distributors
do
Construction, incl. maintenance
do
Contractors' products
do
Automotive--- do
Rail transportation
do
Machinery, industrial equip , tools
do
Containers, packaging, ship, materials
do
Other
"do
109 472
79 957
6 955
6 394
6 178
5 757
fi 397
7 632
6 377
5 703
5 Q7i
7 °46
6 840
8,259
7,780
5 509
7 210
10 919
1 785
3 910
5 121
8 761
1 965
330
566
904
184
319
446
859
184
292
381
705
172
279
343
643
171
291
380
618
146
351
412
685
157
324
325
589
159
284
297
516
146
296
319
559
152
317
307
552
160
360
319
550
156
417
389
652
176
395
343
604
178
514
061
089
251
13 367
8 146
3 666
1 486
1 197
1 089
990
579
293
113
944
532
310
98
1 034
1 231
610
320
99
776
331
119
1 038
926
549
285
87
912
553
264
89
1 074
648
310
126
1 135
721
294
114
1,321
834
334
146
1,261
753
370
133
844
171
528
991
774
275
8
2
5
30
11
12
790
187
42°
740
171
364
676
179
465
612
148
489
622
192
459
627
443
542
170
388
530
151
528
2 318
2 128
624
170
453
546
182
868
3,240
546
188
450
3,136
1,070
1,410
609
241
540
3,916
1,372
1,714
576
233
521
3,669
1,299
1,595
3,569
1,706
1,066
5,450
728
1,283
1,974
6,447
21,296
2610
2392
21,829
2248
2428
2572
2 2, 404
23 179
12, 270
6 249
18 928
3 417
6 440
8 218
30 771
229
153
687
763
222
841
737
309
145
9 375
897
1 006
2 221
835
948
846
989
750
914
2 611
907
1 148
9Q3
2 677
2 435
2 624
928
819
1 148
1 083
1, 126
914
3 776
778
1 345
1 313
5 315
927
675
282
111
1,074
1,471
3,615
1,721
3,440
2,091
1,003
4,686
686
1,083
1,490
5,193
3 711
2 375
15 622
8 767
3 927
15 214
3 152
5 173
6 053
92 048
3 532
1 209
1 572
585
342
104
870
3,692
718
1,089
1,436
5,014
Steel mill shapes and forms, inventories, end of
period—total for the specified sectors:
Q4 A
Producing mills, inventory, end of period:
Steel in process
mil sh tons
Finished steel
' ' do
Service centers (warehouses), inventory, end of
periodf
mil sh tons
Consumers (manufacturers only):
Inventory, end of period
do_
Receipts during period
do
Consumption during period
do
5 6
33 9
37 9
37 3
37 0
37 0
36 2
34 8
33 8
33 8
33 9
33 5
33 8
33 5
10 0
6 7
9 9
6 3
10 °
6 4
10 6
6 3
10 8
6 4
10 8
6 1
9 9
58
9 7
6 1
10 1
10 0
10 0
10 2
6.7
10 1
6.5
6.7
6.4
7 4
6 7
8 4
8 0
7 7
7 8
7 6
71
6 7
6 6
6.7
6.5
6.5
6.5
13.7
10.5
7Q n
CO
13.3
5 0
5 5
12.7
4 5
51
12.4
4 9
5 2
12.0
4 3
4 7
11.7
4 7
5 Q
12.0
5 8
5 5
11.3
5 0
57
10.8
4 2
4 7
10.5
4 3
4 5
10.6
51
50
10.4
51
53
10.4
6 0
60
o-i c
CO Q
"I
r
Revised.
» Preliminary.
i Annual data; monthly or quarterly revisions are not
available.
2 For month shown.
*New series. Source: American Iron and Steel Institute. The production rate of ca-
6.3
10.4
6.8
9.9
53
5.8
HEffective May 1973 SURVEY, prices are in terms of dollars per short ton.
t Revised series. Beginning in the Nov. 1974 SURVEY, steel mill inventories at service centers
reflect (beginning 1967) new sample panel for the Census "Wholesale Trade Report" and (beginning 1962), revised unit prices for converting value of merchant wholesalers' iron, steal,
etc., inventories to tonnage equivalent. Monthly revisions for 1962-72 are on p. S-32, Juno
1975 SURVEY.
SURVEY OF CURRENT BUSINESS
June 1976
1975
1974
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown
in the 1973 edition of BUSINESS STATISTICS
Annual
S-33
1976
1975
Apr.
May
June
July
Aug.
Sept.
Nov.
Oct.
Dec.
Jan.
Feb.
Mar.
Apr.
May
METALS AND MANUFACTURES—Continued
NONFERROUS METALS AND PRODUCTS
Aluminum:
Production, primary (dom. and foreign ores)
thous sh tons
Recovery from scrap (aluminum content) do
Imports (general):
Metal and alloys, crude A
Plrtes sheets etc
Exports:
Metal and allovs, crude
Places sheets bars etc
4 903
1 190
3 879
1 098
one
100
327
86
302
92
310
80
309
91
300
99
311
104
310
88
319
90
329
98
303
103
326
115
do
do
509.0
45.3
457.9
61 0
31.5
36
25.5
4 1
34.9
3 6
26.7
6 4
43.5
5 0
56 4
6 0
37 8
58
45 3
7 4
46 3
7 4
36 1
89
47 0
6 8
50.7
9 0
71.7
6.8
do
do
207.8
234.9
185.8
185 4
4.5
18 0
13.4
15.2
8.6
13 7
4.8
14 2
20.9
13 6
13 7
17 5
25 2
15 6
36 8
13 0
44 9
18 0
31.3
14 7
4 1
16 7
25.8
15 5
14.6
17.2
.3406
.3979
.3900
.3900
.3900
.3900
.4042
.4100
.4100
.4100
.4100
. 4100
.4100
.4100
.4148
13 666
10 461
5,626
1,760
9 760
7 425
4,052
1 376
734 4
575 5
296.6
114 6
742 7
575 1
308.3
109 4
89g 5
608 7
332.7
109 2
895 4
646 5
369.7
93 3
863 2
665 9
393.4
111 6
895
692
385
123
919
673
361
139
811
585
312
116
7
4
6
0
961 7
667 6
384 94
122
9079
72
410
148
5.156
5,999
5,940
6 092
6 086
6 070
6 013
6 014
5 962
6 007
5 999
5 933
r
5 997
5,707
1 411 0
1, 443. 4
1, 299. 0
144.4
330 0
126 7
127.3
115 1
12.2
24 0
111 3
120 2
108 5
11 6
25 0
95 3
105.9
96 6
9.3
23 o
114 3
111.0
96 6
14 4
28 0
118 5
104.3
94 7
9 6
32 0
128 4
116.4
108 4
80
29 o
111 5
106 4
96 9
9 5
28 0
116 0
118 7
107 0
11 7
30 0
1 9f) *\
r H6 7
125 7
115 1
10 5
29 0
114 3
105 8
85
31 0
106.2
97 3
8.9
29 0
133 7
136.5
130.8
5.6
28.0
136 1
133.3
127.2
6.1
1
Price, primary ingot, 99.5% minimum.. .$ per lb._
Alumlnum products:
Shipments:
Ingot End mill prod (net ship )
Mill products total
Sheet and plate
Castings
mil Ib
do
do
do
Inventories, total (ingot, mill products, and
scrap) end ol period
mil Ib
Copper:
Production:
Refinery, primary
From domestic ores
From foreign ores
Secondary recovered as refined
do
do
do
do
i i 597 o
1, 654. 7
'1,420.9
1
233. 8
482.0
1
Imports (general):
Refined A
Exports:
Refined n n d scrap /\
Refined
21 0
2 6
16 2
2.8
35 8
13 1
15 2
2 9
26 8
8 4
38 1
21 o
49 4
9
53
31 9
19 1
33 5
21 4
38
9 2
i's
49 9
33 5
39 6
26.6
68 0
48.7
do
do
309.9
126.5
333.1
172.4
43 1
24 9
35 1
21.3
26 0
13 5
19 3
9 8
20 1
6.7
20 4
11 5
20 0
12 5
17 5
9 0
16 4
8 4
20 5
11 2
16 9
8.5
20.5
10.8
20.6
10.9
2,160
374
179
1,455
451
90
118
513
192
126
509
174
128
511
173
100
530
180
138
513
171
149
482
170
162
480
165
152
460
135
77
451
90
136
528
165
161
511
140
170
459
111
.7727
.6416
.6418
.6378
.6314
.6248
.6379
.6379
.6379
.6379
.6379
.6362
.6362
.6468
.6924
2,813
2,647
667
2,025
2,056
512
i 663 9
1
697. 1
620 7
608.0
55 9
46 3
53 2
51.6
50 7
45 6
37 7
46 0
48 0
47.4
50 6
55 6
56 3
59 8
48 9
61.0
52 8
53 8
509 4
5 0
52 0
55] 1
r 57 8
64.6
50 4
do
do
do
213.6
i 1 599. 4
188.6
1,230.8
14 8
100 7
7.7
97.2
16 0
90 7
10 0
86.2
12.9
108.6
10 6
114.7
20 1
123 6
20.6
108.9
21 8
108 5
21 9
109 3
18.3
114.1
23.5
125.1
16.0
187 1
191 4
193 8
188 6
196 3
194 7
190 7
195 1
193 6
188 7
191 4
188 7
193 0
206 8
37 3
166. 6
81.3
120.3
101 1
120 7
102 9
122 5
109 3
115 5
110 0
115 9
99 3
116 1
85 6
114 1
76 8
121 1
82.8
117.9
81 2
120 3
90 6
110 5
92.0
110.4
89.9
116.4
87.3
85 3
.2253
87 8
.2153
89 5
.2450
77 9
.2334
77 4
.1900
80 8
.1900
84 4
.1956
79 5
.2000
88 5
.2000
83 8
.2000
87 8
.1946
oq 7
.1900
79 6
.1900
68 2
.2022
.2193
5 877
6 314
39, 602
43 664
i ig 897 i 12 165
1
1, 989 i 1 855
i1 64 742
54 400
51 611 42 000
521
5 777
1 130
195
4 975
3 790
522
2 342
1 040
205
4 325
3 275
o
848
1 725
890
155
3 750
2 970
183
2 300
1 050
175
4 230
3 050
508
3 272
1 095
'l05
4 450
3 250
989
3 679
1 180
175
4 680
3 525
o
3 361
1 005
210
4 240
3 130
3 719
920
120
4 340
3 365
1 083
3' 936
980
125
4 545
3 485
0
4 005
990
125
5 090
4' 135
498
2,414
28
4,809
934
2,617
320
9 727
3. 2195
17
8 700
3. 2403
Refiners' (primary), refined and antimonial
(lead content)
thous sh tons
Consumers' (lead content)^
do
Scrap (lead-base, purchased), all smelters
$ per lb_.
Tin:
Imports (for consumption) :
Ore (tin content)
Metal» unwronght» unalloyed
Ig tons
do
As metal
Ponsumption total
Primary
do
do
do
Exports, incl reexports (metal) t
Stocks pig (industrial) end of period
Price, pig, Straits (N.Y.), prompt*
do
do
$ per Ib
1
_.
.
Con sumption ^ recoverable zinc content):
Ores
Scrap all types
do
.do...
do
do
Slab zinc: §
Production (primary smelter), from domestic
Consumption fabricators
Exports
Stocks, end of period:
Producers', at smelter ( Z I ) O _ Consumers'
Price, Prime Western
r
2
'
do
do
do _ .
do
$nerlb -
496
524
132
3 540
9 490
3. 3982
96
10 812
3. 5410
253
11 062
3. 4254
341
10 874
3.4248
67
9 019
3. 3332
153
8 989
3. 3185
48
9 103
3. 2277
1 4.QQ Q
215
262
44
38
8 488
9 247
9 490
3. 0302 33.1397 33.2749 33.4720 33.5546 3 3.7511
A.n x.
A.n f\
on 7
07 i
9Q O
07 &
OQ
oa a
07 9
41 6
42 7
41 1
145.0
380.4
12.1
16.2
14.4
14.9
12.2
24.2
12.1
17.5
7.7
22.6
10.5
42.0
9.4
58.4
8.3
53.8
12.1
51.2
6.2
57.7
9.8
44.0
8.3
45.5
6.6
59.9
i 127 91
i 258
89 2
939 9
9
51
12
6 2
21 0
8 2
17 9
85
18 1
8 3
18 3
7.9
19 2
9 7
20 8
8.8
18 8
8 3
18 6
8 4
18 6
7.6
19 6
8.9
21.1
i 555 9
i yg 5
i 1 287. 7
19.1
1 4.^8 1
oo a
49
30 1
4 0
68 3
1.6
27 6
2 1
72 1
25 3
15
67 9
29 1
31
94 1
(2)
31 0
4 6
78.5
.2
36 8
4 1
81 3
42 0
38
84 1
(2)
25 6
9 4
83 2
.1
90 o
70 6
7
(2)
(2)
40 8
4 5
87.8
.2
41 4
58
106.5
0
115.7
147 2
.3893
U6.0
126 8
.3894
108.6
114 0
.3894
4
39. 7
i 210 7
.3594
475.7
97 8
.3896
(2)
0
4 7
94 8
.1
.2288
4,855
3 795
A71 O
i 57 9
925 3
6 9
.7062
563
549
129
240.0
539.5
Revised.
*> Preliminary.
i Annual data; monthly revisions are not available.
Less than 50 tons.
3 Soe "*" note.
< See note O, bottom of p. S-34.
AEffective Jan. 1974 includes additional items: Aluminum—pipes, tubes, blanks, etc.;
copper—imports of alloyed refined; exports of ores, concentrates, blister, etc.
§ All data (except annual production figures) reflect GSA remelted zinc and zinc purchased
for direct shipment.
©Producers' stocks elsewhere, end of May 1976, 16,400 tons.
527
512
120
8,415
10 442
3. 9575
Zinc:
Imports (general) :
Ores (zinc content)
Metal (slab, blocks)
r 946 4 1 139 8
826 4
r 688 6
452.8
384. 7
170.0
160 1
r
330 0
146.8
Stocks, end of period:
Producers', ore, base bullion, and in process
Price, common grade, delivered
3
7
5
1
607 7
313.6
Lead:
Production:
Imports (general) ore (lead cont ) metal
Consumption total
7
5
0
6
do
Consumption refined (by mills etc)
do
Stocks refined end of period
do
Fabricators'
do
Price, electrolytic (wirebars), dom., delivered
$ per Ib..
Copper-bnse 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
Recovered from scrap (lead cont )
1
1
6
3
4
5
.4250
(2)
67.6
68.0
67.5
74.6
73.4
67.4
61.0
54.0
60.7
97 8
97.4
91 1
90 6
91 6
93 8
92 3
.3700
.3766
.3700
.3700
. 3712
.3895
.3889
.3890
.3893
^Includes secondary smelters' lead stocks in refinery shapes and in copper-base scrap.
t Effective with the Aug. 1974 SURVEY, data omit exports of wrought tin and tin alloys.
*New series effective with data for Jan. 1976. Source: Metals Week. MW Composite monthly
price (Straits quality, delivered) is based on average of daily prices at two markets (Penang,
Malaysia—settlement, and LME 3-month—High grade), and includes fixed charges plus
dealer's and consumer's 70-day financing costs; no comparable earlier prices are available.
90.5
103 3
.3892
73.5
95 3
.3890
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
1974
1975
Annual
June 1976
1976
1975
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
142.4
151.2
Mar.
Apr.
May
METALS AND MANUFACTURES—Continued
MACHINERY AND EQUIPMENT
Heating, combustion, atmosphere equipment, new
orders (domestic), net, qtrly 9
__mil. $..
Electric processing heating equip.do
Fuel-fired processing heating equip...
do
153.5
23.8
90.4
146.4
43.6
52.4
Material handling equipment (industrial):
Orders (new), index, seas, adj 1T
1967 = 100..
202.7
135.6
127.2
125.9
126.1
133.5
132.6
179.0
151.9
131.8
132.9
Indtistrial trucks (electric), shipments:
iland (motorized)
number
Rider-tvpe
_
do
Industrial trucks and tractors (internal combustion
engines), shipments.
number
22, 661
26, 048
15, 063
19, 381
1,431
1,946
1,199
1,762
1,046
1,496
802
1,223
825
1 029
1 067
1 249
1 079
1 344
970
1 076
1 779
1 680
55, 124
36, 388
3,224
3,250
2 781
2 Oil
2 479
2 557
3 033
2 450
3 787
176.5
142.3
131.6
132.2
134 6
136 3
144 6
147 8
147 8
145 1
148 2
154 4
156 3
165 3
167 2
167.8
165.2
164.6
165.2
162.2
164.2
166.3
161.6
167.4
166.1
159.3
172.8
170.2
175.7
184.4
146.6
169.4
168.4
168.7
169.4
170.2
170.5
170.6
170 8
172.0
172.9
174.5
175.1
175.3
176.3
73 75
80.85
87 05
66.15
73.15
71 05
134.55 161. 95 117. 00
105.95 130 95 101 20
1,137.4 1 062 4 1,019.2
110. 00
95.80
129. 80
109 15
999.4
Industrial supplies, machinery and equipment:
New orders index, seas, adjusted
1967-69=100
Industrial suppliers distribution:
Sales index, seas, adjusted!
1967=100..
Price index, not seas. adj. (tools, material handling
equip., valves, fittings, abrasives, fasteners,
metal products, etc.)* " .. ... ... .. 1967=100
Machine tools:
Metal cutting type tools:
Orders, new (net), total
Domestic
Shipments, total_ _
Domestic
Order backlog, end of period
40.8
19.2
9.8
81.60 82.45
mil. $ 2, 017. 05
76.80
915. 90
67.35
73.60
do
1,715.65
780. 50
60 10
do
1, 445. 85 1, 878. 65 177. 10 171. 20 179.70
do
1, 241. 35 1 548.10 150. 20 139. 15 154 10
... . do_ _. 2, 025. 2 1, 062. 4 1,647.4 1,557.8 1 460.6
Metal forming type tools:
Orders, new (net), total... _. _ _ _ _
Domestic
Shipments, total
Domestic _ _
__ _ _
Order backlog, end of period. .
do
do
do ..
do ..
do
485. 20
405. 85
584. 70
521. 80
521.2
270. 45
212 65
573 05
484. 50
218 6
19.25
14.20
43.10
36.95
363.8
19.35
12.50
45.15
39.50
338.0
Tractors used in construction, shipments, qtrly:
Tracklaying, total
.units. . i 23,623
20, 485
mil. $._ i 835. 1 1,095.7
Wheel (contractors' off-highway) . . .
units
2 5, 600
4,592
mil. $.. 2255.6
289.6
Tractor shovel loaders (integral units only), wheel
und tracklaying types .
_
units
* 51,547 38, 019
mil. $
* 1,137.2 1, 130. 4
Tractors, wheel, farm, nonfarm (ex. garden and
construction types), ship., qtrly
units. . s 233, 842 225, 993
mil. $.. 51,785.3 2, 327. 4
36 25
27 35
39 90
34.85
334 4
35 4
8.3
12.6
33 6
6 2
12.3
72 80
76 95
58.85
65 30
149 05 121. 85
116 80 101 95
1 388 5 1, 339. 4
17 45
15 00
33 35
27 65
318 5
91 60
89 55
85 45
77 95
170.00 159 45
143 10 130 50
1 261 0 1 191 1
19.70
17 35
40.75
34.45
275 6
29.95
24 60
51 80
43.20
296 6
30 20
26 85
47 55
42 75
258 2
21.20
18 80
40.85
34.25
238 6
28 25
23 60
48 15
39 75
218 6
32.80
29 30
39 25
33 20
212 1
34.55
30 15
45 25
37.60
201 4
162.2
r
179.1
T
122. 00 P102. 85
98. 00 p 94. 45
145. 85 Pl2l. 50
r
123. 80 plOl. 25
r
975. 6 v 956. 9
r
r
T
v 46. 05
p41 65
p52 20
' 41. 60 * 42. 75
187 6 P 181 5
40. 90
'35 70
r
54. 70
5,570
293.1
1 3?9
86.8
4,732
260.6
1 080
73 8
4,572
265.4
964
55.3
4,738
255.4
830
50.9
10 871
323.4
8 579
260 3
8 366
266.2
9,027
249.4
65,411
644.7
43, 902
464.6
54, 709
636.0
62,589
717.7
ELECTRICAL EQUIPMENT
Batteries (auto.-type replacement), ship
thous
Radio sets, production, total marketer
thous..
Television sets (incl. combination models), production, total market cf
..thous
Household major appliances (electrical) , factory shipments (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)...
do
Vacuum cleaners
do
44 408
43, 993
15 279
31,996
4 564
3 320
2 553
2 925
5,982
3 220
4, 948
3 584
8,470
39, 340
2 570
2,487
34, 516
3,034
2,380 < 3, 072
10 637
769
751
124,240 'r 2, 067 r 2, 180
446 5
i 2 683 378 7
*1 2 702 T 212. 1 T 208. 1
2 080 r 164.2 ^r 142. 2
i 2 014
164. 8 159. 1
390.0
4,582
338.9
212.8
2 457
216.9
319.8 r 354.4
4,228
208.4
198. 1
2 870
7,640 62 549.4
2,463
4
2 865
3,418
3 573
3,178
4,432
4
3, 696
4 613
3,271
3,948
2,564
943
765
919
4 i 293
2,367
343 5
229.0
183.7
186.2
486.4
234.9
384.2
234.0
2,270
147.0
195.4
191.3
176.6
516.3
276.4
403.4
250.9
7
1, 690.1
2,106
71 6
227 1
178 7
178 6
417.6
272.4
424.3
288.1
2,243
27 4
253 1
206.5
187 2
464.8
242. 9
480.5
345 8
2,246
101 0
318.1
214.6
198.3
456.6
184.8
429.1
315.5
1,577
60 3
247.6
179.0
156.2
304.7
91.5
296.2
218.7
85 5
151 0
207 8
92 8
118 7
226 2
96 5
134 3
206 8
121 4
147 0
225 2
148 3
152 1
235 3
121 1
146 7
183 2
1 069
878
4
4,469
4,282
3,453
2, 593
2,496
2,751
4
980
890
919
1,801
223 3
259 7
178.8
183.7
360.9
83.8
279.3
202.9
8
3,400.3
1,934
261 1
223 8
192.8
167.7
299.7
115.2
368.8
266.4
2,158
264.5
224.4
188.7
183.7
361.6
131.8
417.5
292.6
114 3 •• 132 2
158 2
137 3
204 9 r 253 6
r HI 6
3,154
2,860
4
3, 673
3,627
3,428
4
1, 223
931
1,145
2,514
524.4
296.5
222.6
217.0
408.3
143.3
346.2
234.4
2,194
373.0
242.3
198.9
193.9
414.1
128.2
335. 9
208.4
2,500
405.4
294.3
204.6
200.8
426.7
162.0
412.2
282.1
9
2, 392. 1
GAS EQUIPMENT (RESIDENTIAL)
Furnaces, gravity and forced-air shipments thous
Ranges, total, sales
'
"do
Water heaters (storage) automatic sales
do
1 476
1 950
2 56Q
1 186
1 618
2 §4.5
79 3
134 0
268 1
79 0
125 0
234 3
162 9
255 9
r
r
r
135 1
183. 1
310 0
121.1
144.6
312.2
PETROLEUM, COAL, AND PRODUCTS
COAL
Anthracite:
i g giy i g 055
Production f
thous sh tons
Exports
"
do
640
735
Price, wholesale, chestnut, f.o.b. car at mine
$ per sh. ton.. 29. 972
44. 856
Bituminous:
Production 1
thous. sh. tons
1603.40 fi fi40 000
270
68
470
15
525
66
460
89
530
45
495
102
595
56
550
21
655
63
530
14
440
24
525
21
535
66
41.711
46. 428
46. 428
46. 428
46. 428
46. 428
46. 428
46. 428
46. 428
46. 428
46. 428
46. 428
46. 428
53. 1 35 55 370 55. 730
'2 Revised.
* Preliminary.
i Annual data; monthly or quarterly4 revisions not avail.
Excludes figures for rubber-tired dozers.
3 p cr month shown.
Data cover 5 weeks;
other periods, 4 weeks.
s Beginning 1974, tractor shovel-loader class exludes shipments of
tractor shovel-loader/backhoes (front engine mount); of this type, data for the tractor chassis
only are now included in the wheel tractor class (year 1974 data, 22,235 units valued at $153.1
mi
,y^ 6 Jan.-Apr.
? May-July.
* Aug.-Dec.
« Jan.-Mar.
tEffective June 1973 SURVEY, index revised back to 1970
1 Revised data for Jan. 1971-Apr. 1973 are in the Jan. 1975 SURVEY. Subsequent revisions
(DPgirmmg Jan. 1974) incorporate gross new orders from all reporting groups, comparable
with data prior to 1974. See Aug. 1975 SURVEY.
46. 428
45. 560 51.160 55.560 60.030 52.410 53.115 51.495 50. 005 '61.395 57. 850 56, 605
c?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.
9 Includes data not shown separately.
* Price index (Natl. and Southern Industrial Distributors Associations), based on U.S.
Dept. Labor prices of 10 industrial supply/equipment prod, groups weighted according to
survey of Assn. members' distributors sales (series avail, back to 1967). Appliances (Assn.
of Home Appliance Manufacturers).
JMonthly revisions back to 1972 will be shown later.
NOTE FOR PAGE S-33—O Revised 12/31 stocks for 1971-73 (thous. tons): 48.6; 30.1; 25.9.
June 1976
SURVEY
1974
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown
in the 1973 edition of BUSINESS STATISTICS
OF CURRENT BUSINESS
1975
Annual
S-35
1976
1975
Apr.
May
June
July
Aug.
Sept.
Nov.
Oct.
Jan.
Feb.
52 484
39 855
12, 326
6 732
45 358
33 448
11,735
6 605
303
175
Dec.
Mar. Apr.
May
3 979
366 9
366 0
PETROLEUM, COAL, AND PRODUCTS—Continued
COAL— Continued
Bituminous— Continued !
Industrial consumption and retail deliveries,
552, 709
total 9
thous. sh. tons
Electric power utilities
do
390, 068
M f g . and mining industries, totaldo _ - 153, 721
Coke plants (oven and beehive)
do
89, 747
Retail deliveries to other consumers.. _ do
Stocks, industrial and retail dealers', end of period,
total
thous. sh. tons
Electric power utilities _
._
do _
Mfg. and mining industries, totaldo . .
Oven-coke plants
_
do
Retail dealers
do
Exports
Price, wholesale* ..
do
Index, 1967=100
...
554, 622
403, 249
145, 667
83, 193
43, 567
30, 147
13,021
7,427
42 683
30,128
12, 268
7 282
44 727
30 120
11, 269
6 921
47 496
36 186
10, 822
6 638
49 102
37 759
11, 023
6 564
43 829
32 361
11, 088
6 287
8,840
5,682
396
OQO
335
486
318
378
95, 528
82, 631
12,617
6 037
127 159
109, 707
17, 175
8 671
102 772
85, 719
16, 793
8,980
109 796
92,054
17, 428
9 603
280
115 014 109 313 108 680 112 102
96,839 92, 995 93, 051 96, 621
17 796 15 884 15, 204 15 039
10 009
7 340
8 126
7 003
44
32
11
6
563
717
519
659
45 545
33 199
12, 020
6 485
324
324
50
37
12
6
290
249
716
716
r
r
324
120 371 125 813 127 159 r 119 408 118 509
104 227 109, 273 109, 707 r 10 1,456 102 926
15 861 16, 277 17 175 14, 793 15 217
7 729
8 468
8 115
8 514
8 671
277
260
314
379
434
425
442
283
263
277
159
366
59 926
339. 5
65 669
387.0
6 159
' 390.8
7 Oil
389.6
6 269
386.0
4 691
382 0
5 859
377.3
4 529
372 4
4 647
370 2
7 593
363.0
4 534
370 1
3 697
368 9
3 050
368 0
845
60. 737
24, 749
2727
56 494
25, 848
5,030
2,043
4 765
2,140
57
40
4 532
2 259
4 427
2,198
60
49
5 052
2 031
4 250
2 220
4 527
2* 307
4 365
2*115
4 549
2 286
4 551
2 201
4 372
5 041
1,733
1,634
2 261
2,131
2 889
2,741
3 522
3 323
3 867
3,654
3 821
3 618
4 108
3* 899
4 996
4 718
5 092
4 820
4 994
4 737
5 105
4 847
257
1 472
1 502
25S
55
92
87
116
1 465
63 9
403 6
1 341
949 "%
1 726
242 4
OAK q
94fi 1
5 780
366.4
COKE
Production:
Beehive
Oven Chyproduct)
_
Petroleum eoke§_
Stocks, end of period:
Oven-coke plants, total
At furnace plants.
At merchant plants
Petroleum coke .
Exports
thous. sh. tonsdo
. do
__
. _
__ . _
_
2
67
56
52
52
53
62
do
dodo
do
935
910
25
4,996
4,718
1,084
1,472
1,191
1,211
1,216
1 283
1,325
1 435
1 477
4 522
4 291
'231
1 565
do
1,278
1 273
132
133
138
105
89
117
qq
52
74
16, 338 - 1,181
245 7/ 232 2
4,709'. 3V 368.3
1, 100
234 2
384.7
1,246
955 Q
385.6
1 229
250 4
414 9
1,272
256 1
416.9
1 633
278
99
131
148
199
213
203
209
278
272
49
54
PETROLEUM AND PRODUCTS
Crude petroleum:
Oil wells completed
Price wholesale*
Runs to stills O
Refinery operating ratio
number
Index 1%7~100
mil. bbl..
% of capacity
All oils, supply, demand, and stocks:
New supply', totalcf J
Production:
Crude petroleum! .- ._
Natural-gas plnnt liquids!
Imports:
Crude and unfinished oils
Refined products!
mil. bbl
3
212, 784
211 8
4, 631. 6
387
86
82
83
86
89
89
occ i
OC7 Q
397 3
1 619
261 0
304 6
9fi9 fi
401 5
85
87
88
86
1 504
88
1 817
411 4
9
6,062. 7
5,860. 8
454.4
470.9
465.1
495 3
501 9
500 5
505 0
489 4
500 7
509 7
do
do
3,202. 6
629.2
3,052. 0
609.7
253.2
50.2
259.5
50.9
252 3
50.6
258 1
51.8
255 4
52 5
248 0
48.4
257 6
52.2
248 1
50.4
255 4
52.2
254 6
50.2
. do
--do
1,313.4
917.6
1, 511. 1
687.8
102 2
48.8
108.9
51.6
118.4
43.8
131 3
54 1
143 1
51 0
141 5
62 7
137 3
57 9
139 5
51 3
139 9
53 1
144 0
60 9
Change In stocks, all oils (decrease,— ) . _ _ do
-19.2
1 237
65.3
5 11.8
12.2
1.8
15.2
20 6
40 4
8.8
23.5
—46.7
-44.3
do
6,158. 7
6, 022. 6
486.9
474.9
475 1
494 4
495 1
479 2
512 5
476 6
565 7
579 7
do
do
1.1
2.1
79.4
0
6.3
o
o
o
o
9
o
0
74.3
0)
5.7
o
o
58
50
81
4 8
do
do
do
6,078. 2
2, 402. 4
64.4
5, 946. 2
2, 450. 3
58.0
481.2
202.7
468.6
214.1
do
do
do
1,075.9
963.2
362.6
1,039. 8
888.0
365.3
92.8
68.8
30.2
do
do
do
56.7
168.7
513.1
50.1
147.4
486.4
36.8
41,121.1
265.0
113.6
4 742. 5
1, 133. 0
271.4
113.7
747.9
1,057.2
281.9
114.1
661.2
2, 337. 5
1. 0
4 228. 3
2, 393. 6
.8
238.0
182.3
0)
235.7
191.1
0)
217.0
201.2
0)
210 0
218.5
0)
215 2
214.6
C1)
218 4
206.0
0)
229 2
200.3
0)
224 5
199.4
C1)
235 3
211.3
.3
238 0
201.8
0)
243 4
178.4
211.8
193.3
199.0
206.8
215.5
228.9
233.7
235.1
233.0
229.5
227.3
226.4
221.6
218.9
220.5
.404
.455
.428
.438
.452
.474
.480
.480
.481
.476
.476
.468
.462
.456
.452
.461
15.9
.1
43.5
13.7
.1
3.0
.9
0)
3.0
1.1
(i)
3.0
1.1
(i)
2.9
1.3
(i)
2.7
1.5
(i)
2.9
1.3
(i)
2.8
1.5
(i)
2.9
1.3
(i)
3.1
.8
t\\
.7
3.0
m
2.9
56.9
55.7
4.5
4.2
2.8
15. 4
3.7
16. 0
4.4
17.2
4.4
17.8
4.4
17.8
4.7
18.2
5.8
15.6
5.6
11.9
226.7
273.6
285.6
280.6
284.6
' Revised.
i Less than 50 thousand barrels.
2 Reflects revisions not available by
months.
s Beginning Jan. 1974, data may reflect input of lease condensate, natural gas plant
"quids, unfinished oils, and other hydrocarbons which are processed through the crude oil
?i^V ^10Ii facilltles- No comparable data for earlier periods are available.
4 Effective with
1974 end-of-year stocks, data reflect approximately 100 additional bulk terminals and are not
comparable
with
those
for
earlier
periods.
No
earlier
data
are
available
for
these terminals.
5
Not comparable with 1974 and earlier periods; See note 4 for this page.
9 Includes data not shown separately.
§ Includes nonmarketable catalyst coke.
cfincfudes small amounts of "other hydrocarbons and hydrogen refinery input," not
shown separately.
J Monthly revisions prior to 1974 will be shown later; revisions for 1974
are available upon request.
283.7
299.1
297.9
299.4
304.2
307.8
310.5
316.6
313.5
310.8
306.3
Demand, total®!
Exports:
Crude petroleum
Refined products!
Domestic product demand, total 9©!
Gasoline!
Ksrosene
.
Distillate fuel oil!
Residual fuel oil!
let fuel!
Lubricants!
Asphalt
Liquefied gases!
.
_
.
..
Stocks, end of period, total
Crude petroleum _ _ _.
Unfinished oils, natural gasoline, etc
Refined products.. . .
Refined petroleum products:
Gasoline (incl. aviation):
Production
Stocks, end of period
do
do
do
do
do
_
do
Prices Cexcl. aviation):
Wholesale, regular*
Index, 2/73=100..
Retail (regular grade, excl. taxes), 55 cities
(mid-month) H
$ 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..
4 1 fi Q
4.4
4.3
9.1
1r q
6 7
5§
6 3
3.0
468.3
213 5
4 0
488.6
219 7
3 0
488 8
218 6
33
473.1
203 9
38
506.7
211 5
4 5
471.6
192 8
4 4
557.6
212 0
8 5
574 9
199 92
9
73.9
63.5
30.3
68 0
65 4
29 7
65 5
69 4
29 6
67 4
65 6
32 4
64 9
69 9
31 2
82 9
69 4
30 9
76 3
70 5
30 0
117 1
84 6
28 2
133 2
93 5
29 4
4.2
4 5
17 1
29 7
4 2
18 3
36 5
4 6
19 1
37 2
4 4
18 9
37 3
4 9
17 7
43 g
37
11 5
42 5
4 4
5 9
54 3
38
51
57 5
12.7
30.7
6
1,069.4 1,071 2 1 086 4 1 106 9 1 147 3 1 156 1 1 179 6 1 133 0 1 088 6
9
281. 0
276 1
259 4
271 0
264 2
56 6
271 4
269 6
289 3
121.2
119 9
115 6
114 6
118 1
113 4
116 3
113 7
113 7
667.2
675 1
773 3
705 9
732 2
793 1
773 1
685 6
747 9
© Beginning March 1974 SURVEY, data are restated to account for processing gain 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";
see note 3 for this page.
*New Series. The source has discontinued prices for the former
specification. Comparable indexes for earlier periods will be shown later. For gasoline and
kerosene see also similar note on p. S-36.
If Beginning June 1975 SURVEY, the prices for all
months have been transferred forward (i.e., Dec. price moved into Jan. period) since they are
for "mid-month" instead of "1st of month" as formerly.
S-36
June 1976
SURVEY OF CURRENT BUSINESS
1974
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown
In the 1973 edition of BUSINESS STATISTICS
1975 *
Annual
1975
Apr.
May
June
July
Aug.
1976
Sept.
Oct.
Nov.
Dec.
Jan,
Feb.
Mar.
Apr.
May
PETROLEUM, COAL, AND PRODUCTS—Continued
PETROLEUM AND PRODUCTS— Continued
Refined petroleum products— Continued
Distillate fuel oil:
Production
mil bbl
Imports!
do
Exports
do
Stocks end of period
do
Price, wholesale (middle distillate)*
Index, 1967=100.. .
Resldual 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
4
mil bbl
do
Asphalt:
Production
Stocks end of period
Liquefied pases (Incl. ethane and ethylene):
Production total
mil bbl
At gas processing plants (L P.O )
do
At refineries (L.R.G.)
do
Stocks (at plants and refineries)
do
4
80 4
2 9
84 4
39
85 1
32
83 0
2 9
86 3
3.9
84 8
50
(2)
(2)
(2)
(2)
(2)
(2)
(2)
152.1
163.3
181.5
197.4
220.8
226 2
235.8
208.8
165.5
272.0
309.4
294.9
296.1
301.3
308.3
312.9
318.2
322.9
330.8
336.3
336.7
339.4
335.1
331.5
328.6
390.5
579.2
5.0
4
74 9
485.4
451 0
435 9
5.3
74 1
495.5
37 3
31.4
2
66.3
534.6
35 7
34 8
.2
73 5
491.3
34 6
27.1
.6
69 7
489.3
35 8
35 5
.5
71 5
479.9
35.5
30.4
.4
71 9
473.3
35 5
39 4
.6
76 9
458.1
36 1
37 8
2
81 9
461.8
36 4
35.1
.4
83.1
450.4
42.0
34.1
1.0
74 1
459.3
43.9
42.0
.4
66.6
451.8
445.2
454.8
453.8
453.6
305.1
29. 8
318 0
30 4
25.9
30.3
26 7
30 7
25 2
29.3
27 4
29.8
29.7
31.1
27.2
31.3
26 8
30 4
25.9
29.0
26.3
30.4
27.6
30.6
70 7
11.9
16 1
56 2
9.1
14 3
4 4
'.7
16.0
1.0
15 4
.7
14.9
.9
14 7
.7
14 2
.7
14 0
51
1.1
13 3
5 0
.6
14 2
51
.7
14 3
44
.5
14.6
4
164 2
21. 6
144 0
22 8
9 4
30.7
13 1
31 6
14 4
29.6
16 6
28 4
16.2
26 3
14 8
22.6
14 5
19 8
11 6
20.2
8 3
22.8
68
24.9
571 3
447.9
123.3
112 5
557 5
444 1
113.4
125 1
44. 9
36.7
8.2
101.4
46 2
37.0
9.3
111 7
45.5
35.8
9.7
124 1
47 6
37.2
10.4
131 2
48.9
37.8
11.1
138 5
44.8
35.0
9.8
141 6
47 4
37.8
9.6
140 6
46.2
36.9
9.3
138 1
48. 1
38.4
9.6
125 1
46.7
37.2
9.5
109 0
4
mil bbl
do
80 3
33
(2)
74 6
33
.1
146.3
4
do
do
77 2
2 0
(2)
968 6
55 9
3
208.8
Lubricants:
Exports!
Stocks end of period
75 4
4 2
974.0
105.6
.9
223. 8
PULP, PAPER, AND PAPER PRODUCTS
PULPWOOD AND WASTE PAPER
Pulpwood:
Receipts
Consumption
Stocks, end of period
thous cords (128 cu ft )
do
do
77, 302
74, 459
7,238
« 65, 096
65, 730
6,845
4,802
5,059
6,764
5,073
5,155
6,372
5,027
5,244
5,834
5,010
6,330
5,497
5,476
6,346
5,448
5,371
6,411
6,537
6,297
6,727
5,829
5,908
6,627
5,672
5,490
6,845
6,031
6,163
6,799
6,279
6,130
7,008
6,338
6,595
6,839
Wnste paper:
Consumption
Stocks, end of period
thous. sh tons
do
12, 106
848
9,093
731
770
775
744
755
750
744
696
752
770
740
784
744
871
768
809
717
762
731
842
694
'828
'633
886
665
WOODPULP
Production:
Total, all grades
thous sh tons
Dissolving and special alpha
do^__
Sulfate
do
Sulflte
do
Groundwood— _ _.
..
do
Deflbrated or exploded, screenings, etc.. _ do
Soda and semlchemical
do
48, 417 5 40, 997
1,367
1,723
33, 010 s 29, 358
2,025
2,210
4,414
4,711
2,729
3,419
4,035
5
3, 076
95
2,240
148
330
s 3, 215 s 3, 208
106
111
2,359
2,334
146
149
327
342
5 3, 171 s 3, 569
107
88
2,307
2,583
153
166
360
397
s 3, 396 53,919 s 3, 724 5 3, 371 53,935
132
123
87
127
133
2,779
2,404
2,436
2,685
2,847
179
179
183
166
186
420
375
389
421
406
s 3, 850 s 4, 155
147
120
2,951
2,741
187
174
425
402
262
277
272
263
315
305
333
323
292
435
413
444
1,024
497
440
87
1,222
655
494
73
1,271
719
489
63
1,258
710
484
63
1,231
682
475
74
1,140
611
465
65
1,041
540
448
53
1,124
635
441
49
8 1, 113
6633
421
59
61,024
6497
440
87
1,062
562
431
69
'1,083
574
'448
'60
1,019
531
427
61
i 2, 802
788
* 2, 015
1 2, 565
692
i 3, 257
184
47
137
205
66
140
208
36
173
183
58
124
218
55
163
207
59
149
161
44
117
186
52
134
240
58
298
206
76
130
209
54
155
214
73
141
178
54
124
* 4, 123
221
i 3, 902
i 3, 078
140
i 2, 937
248
5
243
245
10
235
278
24
254
267
11
256
223
12
211
242
4
237
255
11
244
237
8
230
283
21
262
318
23
295
280
8
272
313
20
294
298
7
291
4,147
1,850
1,881
6
411
4,613
2,006
2,137
8
435
4,562
1,992
2,142
8
420
5,144
2,258
2,427
8
451
4,708
2,083
2,218
7
401
4,533
2,106
2,071
7
348
4,940
2,249
2,287
9
396
Stocks, end of period:
Total all mills
Pulp mills
Paper and board mills
Nonpaper mills
do
do
do
do
1,177
440
637
100
Exports, all grades total
Dissolving and special alpha
All other.
do
do
do
Imports, all grades total
Dissolving and special alpha
All other
do
do
do
PAPER AND PAPER PRODUCTS
Paner and board:
Production (Bu. of the Census):
59, 934
4,048
4,184
All grades total unadjusted
thous sh tons
52, 297
4,209
Paper .
do
1,768
1,799
26, 861
23, 370
1,849
1,886
1,985
27, 892
Paperboard
do
24, 233
1,951
144
8
Wet-machine board
do
8
91
7
387
Construction paper and board
do
392
5,037
4,577
403
Wholesale price indexes:
Book paper A grade
1967 — 100
140.9
152.2
Pnnerboard. _ _ ' _ _ _ _ .
.
do
170.3
170.4
169.9
169.9
123.4
127.1
125.7
123.5
126.2
Building paper and board., .
do
T
Revised.
* Preliminary.
* Corrected.
1
J
Reported annual total; revisions not allocated to t he month s.
Less than £ 0 thousa nd
barrels.
3 Beginning with January 1975, data 4for s oda comt)ined with those f(>r sulpha te;
not6 comparable with data for earlier periods.
See note 4 fo r p. S-35.
Beginning March 1975, data for defibrated or es ploded, s creenings etc., no t availat)le;
not comparable with those for earlier periods.
6 rj ata excluc] e small amounts of pulp lot
reported because it would disclose the operations of iri dividual firms,
tMonthly revisions prior to 1974 will be shown lat sr; revisio ns for 1974 are ava liable up on
request.
5,339
' 4, 800
2,365
' 2, 147
' 2, 236 2,496
10
8
468
'408
170.6
170.0 170.6
170.6
169.7
170.1
171.3 171.7 172.9
174.8 175.9
127.4
127.7 128.8 131.2
131.4 131.7
131.3 133.2
137.0
136.2
136.4
*New series. The Bureau of Labor Statistics has revised its pricing program and discon
tinned prices for the former specification. The index shown is developed from revenue anc
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 2
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 index reflects changes in prices
from Mar. to Apr. Except for gasoline, (p. S-35) comparable data prior to April 1Q73 are
available upon request.
SURVEY OF CURRENT BUSINESS
June 1976
1974
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown
In the 1973 edition of BUSINESS STATISTICS
1975
Annual
S-37
1976
1975
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
PULP, PAPER, AND PAPER PRODUCTS—Continued
PAPER AND PAPER PRODUCTS— Con.
Selected types of paper (APT):
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 free sheet papers: J
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
1,255
1,223
167
226
74
180
88
93
182
92
102
195
84
89
197
90
114
202
101
105
207
97
144
236
122
118
232
119
111
226
113
104
226
110
102
175
107
1,246
1,161
3,642
296
3,832
3,145
3, 217
222
199
248
246
207
243
238
203
249
252
206
252
264
199
272
263
199
260
343
252
303
301
245
277
297
264
311
350
273
320
314
211
310
6,355
6,946
5, 399
5,504
400
395
416
434
418
441
459
450
457
489
499
489
600
558
555
535
553
541
545
573
496
538
4,135
3,422
149
3,406
4,015
238
111
236
333
268
123
256
335
273
121
270
327
272
127
263
311
316
131
312
345
319
149
307
322
316
135
330
366
294
135
293
356
302
149
288
334
333
365
320
347
548
9,597
3 143
3 7, 679
3 7, 727
771
748
321
801
806
317
759
787
289
645
651
283
597
623
258
510
530
237
487
518
206
379
488
137
324
365
95
370
339
126
552
484
214
812
781
225
3 3, 481
3 3,377
3 3, 564
3 3,440
325
321
272
270
38
260
261
36
284
281
39
285
290
34
323
316
42
294
298
38
324
331
30
306
304
33
278
290
21
323
323
21
294
294
20
321
318
23
7, 022
3 6, 364
640
569
529
482
507
515
565
583
546
498
505
531
3827
3734
1,035
1,014
1,046
1,090
1,104
1,045
983
837
734
664
652
687
7,399
Imports
do
Price, rolls contract, f.o.b. mill, freight allowed
or delivered
Index, 1967 =100. . «151.2
5,847
565
536
552
537
440
435
394
289
316
270
302
603
645
184. 0
184.7
184.7
184.7
184.7
184.7
184.7
184.7
184.7
184.7
184.7
184.7
190.1
193.1
482
445
883
439
479
871
470
473
856
475
469
981
423
497
997
515
520
563
543
482
512
476
1,093
1,198
1,233
1,165
1,163
194,329
15,379
15, 986
15,441
15,816
16, 778
18,360
2, 380. 0
1, 755. 0
196.9
144.1
191.6
141.1
195.2
144.9
189.0
139.7
200.5
146.8
214.4
157. 7
NewsprintCanada:
Production
Shipments from mills
Stocks at mills, end of period -
do
do
- do
United States:
Production
_
Shipments from mills
Stocks at mills, end of period..
do
do
do
135
4,187
4,092
3
9,
3
3
Consumption by publisherscf
do
Stocks at and in transit to publishers, end of
period
thous. sh. tons
Paper board (American Paper Institute):
Orders, new (weekly avg/i
_ -thous. sh. tons
Orders, unfilled § _ _ _ _ _
do
Production, total (weekly avg.)
do
Paper products:
Shipping containers, corrugated and solid fiber,
shipments. _
_
..mil. sq. ft. surf. areaFolding paper boxes
264
395
4
342
876
556
1216,072
2,560.0
1,700.0
thous. sh. tons
mil $
1,165
J
486
583
1,231
546
550
487
19, 811
15,851
15, 959
17, 414
227.6
168 1
191.5
141 5
208.0
155 7
205.2
152 7
565
566
576
1,256
580
583
18, 875
18,204
188. 1 »• 231. 5
141 9 r 172 0
199.3
151 0
16, 705
r
r
578
1,268
197.9
RUBBER AND RUBBER PRODUCTS
RUBBER
Natural rubber:
Consumption.
_ . thous. metric tons
Stocks, end of period.. . .
do
Imports, incl. latex and guayule. thous. Ig. tons--
2
2
719. 05
137. 54
681. 32
633. 60
105. 38
656. 60
53.12
125. 44
62.34
55.51
113. 14
32.65
55.09
125. 15
58.41
46 77
118. 69
52.73
51 98
116. 75
59.72
58.04
107. 05
54.29
58 74
104. 91
57.15
44 76
110 69
66.21
50 50
105. 38
62.20
66.07
55.57
72.12
.398
.299
.293
.285
.293
.318
.303
.308
.300
.300
.308
.330
.358
.370
thous. metric tons
_
.
do
do
2
2,498.22
2
2,355.82
2
618. 70
1, 940. 76
1, 805. 91
369. 86
138. 71
149. 15
426 60
153. 63
149. 30
424. 70
149. 78
153. 40
408 20
144. 89
137. 57
390 78
172. 71
153. 10
378 87
181. 99
164. 07
368 01
194. 35
179. 44
358 94
185. 72
139. 70
365 33
189. 24
146. 59
369 86
Exports (Bu. of Census) _ . _ . _ _ thous. Ig. tons
267. 12
214. 50
17.17
15.69
16.78
16.24
18.36
19.28
20.64
21.15
22.57
21.24
22.55
25.14
153. 27
2 2144. 57
15. 47
78.90
100. 22
11.66
5 60
8.23
14 14
8.85
8.68
13.53
6 74
9.54
12 83
4 99
7.65
11 37
5.80
9.53
12.64
6 36
9.26
12 02
6 46
8.17
10.35
6 58
7.26
11 56
4 22
6.99
11 66
thous
211, 390
186,705
15 222
15, 677
16 678
14 531
16, 413
17 878
18 821
15 212
16 215
17 598
18 200
do
do
do
do
209 418
55, 245
145, 449
8 724
196, 281
47, 452
142, 706
6 122
19 404
4 231
14 642
531
17 941
4,291
13, 123
528
19 384
4 469
14 393
522
17 888
3 342
14 156
390
16, 332
3,852
12, 007
473
19 883
5 206
14 159
518
18 680
4 856
13 256
569
13 854
3*988
9 352
514
14 056
3 928
9 667
461
14 615
4 769
9 299
547
16 410
4 919
10, 952
539
do
do
55, 242
9 229
50 020
6 124
54 082
577
52 037
574
49 803
495
46 990
435
47, 405 45 711
491
470
46 002
547
47 569
'529
50 020
*419
53 172
482
55 395
435
609
do
do
do
do
41, 415
46 227
8 755
3 608
32 584
34 581
9 212
3 998
2 798
2 830
9 838
425
2 656
2 734
9 921
351
2 685
3 099
9 669
390
2 497
2 889
9 476
217
3 103
3 414
9 307
455
2 380
2 678
9 260
352
2 305
2 542
9 212
300
2 675
2 941
9 133
309
2 790
3 043
9 028
283
402
Price, wholesale, smoked sheets (N.Y.)__$ per l b - _
Synthetic rubber:
Production.. ... . . .
Consumption
Stocks, end of period
Reclaimed rubber:
Production^
_ _
Consumption
Stocks, end of period
-
thous. metric tons
.
do
do
2
.388
.405
TIRES AND TUBES
Pneumatic casings, automotive:
Production ... _ .
Shipments, total
..
Original equipment.. _
Replacement equipment
Exports.
_ _
Stocks, end of period
Exports (Bu. of Census)
Inner tubes, automotive:
Production
Shipments
Stocks, end of period
Exports (Bu. of Census)
__ _
' Revised.
r> Preliminary.
1 Reported annual total; revisions not allocated to months.
' Publication of monthly rubber statistics was discontinued by the Census Bureau effective
with the Dec. 1972 report (Series M30A). Data beginning 1973 are from the Rubber Manufacturers Association and are not strictly comparable with 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;
mill stocks, 29; consumption by publishers, 586, stocks at and in transit, 676.
* Beginning
9
, 703
o 779
9 546
267
2 788
3 118
9 474
215
Feb. 1975, data reflect indexes in lieu of dollar amounts formerly shown.
t Represents the sum of uncoated book paper and writing and related papers (including thin
paper) 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.
SURVEY OF CURRENT BUSINESS
S-38
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown
In the 1973 edition of BUSINESS STATISTICS
1974
1975
June 1976
1976
1975
Apr.
Annual
May
June
July
Aug.
Oct.
Sept.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
33 128
May
STONE, CLAY, AND GLASS PRODUCTS
PORTLAND CEMENT
Shipments, finished cement
thous. bbl__
1
431, 516 1 366, 984
28, 771
34 101
36 266
38 910
39 176
38 941
41 745
28 346
22 782
17 660
20 484
28 090
487.8
8.5
101.6
531.3
8.0
112 9
553.8
7.7
111 1
589.2
6.4
114 7
588 3
570.5
7.3
109 1
625.0
6.8
118 9
501.2
115 5
95 9
440.5
7.4
76.5
343.6
5.4
65 3
457.5
8.7
69 2
566.3
8.6
103 9
CLAY CONSTRUCTION PRODUCTS
Shipments:
Brick, unglazed (common and face)
mil. standard brick.. 6,673.0
Structural tile, except facing
thous. sh. tons..
99.7
Sewer pipe and fittings, vitrified
do
1,454.1
Facing tile (hollow) , glazed and unglazed
mil brick equivalent
96 9
Floor and wall tile and accessories, glazed and unglazed
mil. sq. ft _
273.2
Price Index, brick (common), f.o.b. plant or
N.Y. dock
1967 = 100..
143.5
5,854.0
88.5
1, 189. 9
6.6
5.5
79 1
65
75
6
A
7 ^
4 9
6 4
235 6
20.6
19 7
19 2
20 2
20 1
20 3
21 5
18 3
18 5
19 1
18 6
22 7
160.5
155.4
156.6
159.9
160.7
163.0
165.6
167.5
168.7
168.7
170.1
170.9
171.7
173.2
174.3
GLASS AND GLASS PRODUCTS
Flat glass, mfrs.' shipments
thous. $
Sheet (window) glass, shipments
Plate and other flat glass, shipments
Glass containers:
Production
132, 541
410, 841
do
do
thous. gross
Shipments, domestic, total.
Narrow -neck containers:
Food
. .
Beverage
Beer
_
Liquor and wine
.
543,382
do
r
467,994
105,183
131, 143
»14o,938
153, 874
76, 229
r
391,765
15 026
90,157
20, 172
110, 971
r
27,714
126, 160
r
280,397
r
273,709
r
23 017 r 23 079 r 24 250 r 25 341 r 25 297 r 25 241 r 26 974 r 22 929
19 947
23 843
24 118
r
279 022 r 22 640 r 23 834 r 25 388 r 29 456 r 23 830 r 23 454 r 23 869 r 20 973
22 212
22 590
21 546
r
1 590
4 747
5 481
2 060
1 643
5 785
6 000
1 937
1 965
4*422
6 402
1 874
2 026
4*429
6 222
1 679
r
2
r
7
r
6,
r
907
497
771
2 620
1 881
4,865
5,829
1,462
4 687
' 7
4 448
4 936
4 564
r
7 763
4,135
2 091
2 097
292
2 508
2 257
310
f 3,r 351
473
2,056
290
37, 666 r 40 828 r 39 707 r 38 109 r 33 569 r 34 613 r 35 028 r 38 618 r 40 391
37 666
38 598
40 815
35,483
39, 210
283 055
do
do
do .
do
24,491
65, 631
66, 605
22 568
r
25 266
r 64 418
76, 835
r 23 406
Wide-mouth containers:
Food (Incl. packer's tumblers, Jelly plasses,
and fruit Jars).
thous. gross
Dairy products
.
.do
59 709
148
r 59 180
'107
Narrow -neck and Wide-mouth containers:
Medicinal and toilet
do
Chemical, household and industrial
do
30, 231
4,326
r
Stocks, e n d o f period
. d o
37, 500
r
25,509
' 120,429
25 77£
4,' 035
1 983 r 2 183
5 127 r 5 896
6 606
6 654
2 020 r i 954
2 128
6 336
7 489
1 994
2 248
7 710
7*894
1 877
r 4 382 r 4 750 r 5 042 r 6 754 r 4 298
' 7
' 7
8
' 6
10
2 297
288
r
2 066
'314
2 060
399
2 514
451
2 929
4 723
6 512
1 906
2 978
5 280
7 260
1 801
1 897
310
r
2
4
6
2
009
762
365
320
4 844 r 5 587
9
11
2 170
2 435
'330
361
r
10
6
(6)
483
369
r
26 173 24, 535
31 382 20, 518
GYPSUM AND PRODUCTS f
Production:
Crude gypsum
Calcined
__
thous. sh. tons
>11,999 ' * 3 9,751
do .. 310,993 ••139,181
Imports, crude gypsum
Sales of pypsum products:
Uncalclned
Calcined:
Industrial plasters
Building plasters:
Regular basecoat.. .
All other (Incl. Keene's cement)
Board products, total..
Lath
.
Veneer base
Gypsum sheathing
Regular gypsum board
Type X gypsum board
Predecora'ed v/a.lboard
do
32 791
3 2 444
3 2 773
3 2 366
3865
3787
37,424
3 5, 448
3 1, 249
3 1, 537
3 1, 474
3396
5,262
4 878
1 245
1 343
1 451
379
322
293
74
73
79
26
215
416
12,852
260
359
237
9 408
2,421
168
176
360
10 804
182
292
198
8 214
1 790
127
44
90
2 608
42
69
49
1 980
434
33
47
96
43
85
13
21
901
14
23
17
686
149
12
do
...do
3 2 320
3 2* 151
..
do
_. do
mil. sq. ft
do
do
do
do
do
do
2 934
2 929
2 247
2 250
462
35
462
33
526 3
48 5
512.7
47 5
49
79
56
51
85
56
TEXTILE PRODUCTS
FABRIC (GRAY)
Knit fabric production off knitting machines (own
use, for sale, on commission), qtrly*. . mil. Ib
Knitting machines active last, working day* thous
Woven fabric (gray goods), weaving mills: t
Production total 9
mil linear yd
Cotton
do
Manmade fiber _
do
Stocks, total end of period 9 d"1
do
Cotton
.
do
Manmade
fiber
do
Orders unfilled total end of oorlod 9 ^T
do
Cotton _
"do
Manmado
fiber
do
COTTON
Cotton (excluding Hnters):
Production:
Ofnnlngs^
thous running bales
Crop estimate
thous net weight bales 0
Stocks In the United States, total, end of period 9
thous. running bales..
Domestic cotton, total .
do
On farms and in transit..
do
Public storage and compresses
do
Consuming establishments
do
2,011.3
46 6
11 054
4 987
5*977
1 290
*560
725
1 797
*713
1 071
4
4
11 328
11 537
6 617
n
1 955 0
47 5
9
777
d ^9fi
5 356
1 099
489
605
2 590
1 144
1 414
« 8 174
« 8 302
6 14°
ASfi
11,476
8,413
1,026
9,528
945
7,431
1,152
500 7
48 4
2 RQa
2
375
2 449
1 219
519
695
1 892
805
1 072
: 525
74.Q
77n
2 7QR
814.
«MC
°.AQ
J OK4
•3R4
397
1 191
510
676
1 961
806
1 139
415
7 ^9^
6,344
1,199
5,559
1,196
7,315
442
ftftft
040
450
1 154
506
644
2 582
1 126
1 428
004
2 595
1 096
497
594
2 608
1 077
1 501
474
1 087
488
595
2 581
1 019
1 531
2 980
2 388
2 582
1 099
489
605
2 590
1,144
1 414
882
373
502
1 140
528
606
2 551
1,116
1 403
2 1 0^1
2 4.4.7
OKO
907 2 1 105
2
466
375
2626
••522
1 123
1 117
472
488
641
630
2 721
2 605
1,294
1,134
1 425 1,380
r
r
1QC
1 17^
1 IfiR
498
665
881
1 ?40
495
675
2 90-1
935
1 327
30
169
373
2 766
5,802
7,618
8,072
477
2 527
505
531
2 683
550
2 624
570
559
1 3 fifi9
1 9 709
U 77c
11,759
10 618
10,608
9 544
9,528
8 706
8,689
8 058
8,041
2
6
1 OC
c7c
6,566
529
4,865
1,172
J
" Revised.
1 Annual total: revisions not
allocated to the months or quarters.
Data
3
4
cover 5 weeks; other months, 4 weeks.
Excludes byproduct gypsum.
Crop for the
year 1974.
"Crop for the year 1975.
«Effective January 1976, "dairy products" are
included in "Food, wide-mouth containers."
(DBales of 480 Ibs.
New series. Source: BuCensus. Data cover warp and weft knit yard goods and knit
garment lengths, trimmings, and collars: no quarterly data prior to 1974 are available.
{Monthly 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.
434
502
678
•I
455
8 910
8,202
2
2
QQQ
984
1 390
r
r
2 8, 174
8 8, 302
2712
922
903
284
322
297
538
6,152
6,131
360
4,440
5,464 13, 646 12,684
CQQ
71ft
9, 131
275
6,114
6,870
7,431
6,000
4,045
2, 919
3,430
4,063
1,152
1,121
1,217
1,035
1,037
993
1,085
1,126
cr1 Stocks (owned by weaving mills and billed and held for others) exclude bedsheeting,
toweling, and blanketing, and billed and held stocks of denims.
^Unfilled orders cover wool apparel (including polyester-wool) finished fabrics; production
and stocks exclude figures for such finished fabric*. Orders also exclude bedsheeting, toweling,
and blanketing.
ACumulative ginnings to end of month indicated.
t-Beginmng Jan.
1976, data are shown on a monthly basis.
SUEVEY OF CURRENT BUSINESS
June 1976
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown
in the 1973 edition of BUSINESS STATISTICS
1974
1976
1975
1975
Apr.
Annual
S-39
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
226
1
'49.7
176
1
'49.5
237
6
'49.6
214
3
'50.5
141
3
'51.7
381
37
'52.8
302
9
50.2
57.3
57.2
57.0
55.5
57.2
62.1
17.1
7.9
8.7
.435
4.0
17.2
7.9
8.6
.428
3.9
17.1
7.9
210.8
.431
25.0
17.1
7.9
8.3
.413
3.8
13.3
12.9
14.0
14.6
5.0
4.8
4.6
4.6
.37
41.6
60.9
.32
54.6
76.1
.31
48.0
May
TEXTILE PRODUCTS—Continued
COTTON— Continued
Cotton (excluding linters)— Continued
Exports
_
thous. running bales
5,170
Imports
thous net-weight (1 bales
46
Price (farm), American upland
cents per lb._ ' i 42. 9
Price, Strict Low Middling, Grade 41, staple 34
(\y\&"), average 10 markets*
cents per Ib
141.7
3,840
50
' « 49. 3
364
5
36.5
371
4
35.4
392
4
38.9
356
40.6
325
1
43.5
258
19
46.8
853.1
40.4
41.7
42.8
45.6
48.4
50.7
50.4
50.9
55.1
17.3
8.8
106.2
.408
55.5
17.1
8.0
93.2
.352
46.5
16.8
8.6
« 7.9
.314
M.O
16.8
8.5
6 9
.346
3.5
16.8
8.5
7.2
.360
3.7
16.8
8.4
28.2
.328
24.1
17.0
8.4
7.8
.392
3.9
16.9
8.3
8.1
.403
4.0
17.1
8.4
210.5
.421
25.2
17.1
8.3
8.4
.418
4.1
17.1
8.0
29.4
.378
24.4
4,714
4,095
313.8
312.3
COTTON MANUFACTURES
Spindle activity (cotton system spindles):
Active spindles, last working day, total
mil..
Consuming 100 percent cotton _ . __ . . do
Spindle hours operated, all fibers, total
bil._
Average per working day
.do
Consuming 100 percent cotton
do
Cotton cloth:
Cotton broadwoven goods over 12" in width:
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, rawcotton equiv thous. net-weight0bales
Imports, raw cotton equiv_- _
_. do _
33.9
3.30
531.5
568.4
35.9
3.50
488.3
487.1
12.5
10.8
6.6
5.7
.53
43.8
27.6
.53
45.6
22.9
11.6
5.6
.48
37.5
29.8
1,164
1 051
979
15.2
6.7
.44
34.3
32.7
12.3
5.2
.42
38.1
40.6
13.3
5.3
.40
41.0
43.9
12.8
4.8
.38
49.8
63.9
12.5
4.9
.40
41.6
69.5
15.9
5.5
.34
39.9
77.5
.38
42.8
75.7
MANMADE FIBERS AND MANUFACTURES
8,085.3 57,167.3
Filament yarn (rayon and acetate)
do .
533.4
366.1
Staple, incl. tow (rayon)
__
do
370.9
645.4
Noncellulosic, except textile glass:
Yarn and monofilaments
do
3,443.0 s 3,208. 9
Staple, incl. tow
._
... . do _
? 780.6 2, 676. 4
Textile glass
fiber
do
682.9 ' 545. 0
Fiber stocks, producers', end of period:
6
Filament yarn (rayon and acetate)
mil. lb._
18.6
57.5
Staple, incl. tow (rayon)
.do
51.2
73.9
Noncellulosic fiber, except textile glass:
5280.6
Yarn and monofilaments
do
392.3
232.1
Staple, incl. tow
do
321.3
Textile glass
fiber
do
98.1 ' 101. 1
Prices, manmade fibers, f.o.b. producing plant:
Staple: Polyester, 1.5 denier
_$ per l b _ _
.59
.61
Yarn: Rayon (viscose), 150 denier
do
Acrylic (spun), knitting 2/20, 3-6D
do
1.32
U.28
Manmade fiber broadwoven gray goods ratio:
3.20
Manmade fiber and silk broadwoven fabrics:
Production (qtrly.), total 9
mil. lin. yd.. 5,923.3
1 962 7
Filament yarn (100%) fabrics 9
do
431.5
Chiefly rayon and/or acetate fabrics
do
346.0
Chiefly nylon fabrics
do
3,308.8
Spun yarn (100%) fab., exc. blanketing 9 -do
294.5
Rayon and/or acetate fabrics, blends
do
2,381.2
Polyester blends with cotton
do
Filament and spun yarn fabrics (combinations
and mixtures)
mil. lin. yd.. 329.8
Manmade fiber manufactures:
Exports, manmade fiber equivalent*
mil. lbs__ 390. 73
Yarn, tops, thread, cloth
do.. 224.11
Cloth, woven
_. __do. 150. 34
Manufactured prods., apparel, furnishings-, do. _ 166. 63
Imports, manmade fiber equivalent*
do_. 371. 25
Yarn, tops, thread, cloth
do.. 76.22
55.71
Cloth, woven
. . _ . . .
do
Manufactured prods., apparel, furnishings -_ do. . 295. 03
252.
00
Apparel, total
._
__ do..
175.34
Knit apparel.
.
do
3.33
-
-- 1,695.7
101.7
80.2
687.0
105.8
781.5
605.4
126. 9
923.4
791. 6
' 141. 0
' 154. 7
896.7
853.1
159.9
34.0
55.3
619.8
44.9
618.6
51.2
020.4
50.7
255.5
233.0
102.4
266.9
220.2
'95.1
280.6
232.1
' 101. 1
359.1
293.9
95.2
«81.8
116.6
925.8
.61
.58
.56
.56
.56
.58
.58
.58
1.24
1.24
1.27
1.27
1.26
1.36
1.40
1.40
.38
.37
.33
.30
.30
.28
.23
.24
5, 296. 2
1 688 2
325.7
279. 0
3, 054. 0
172. 5
2, 373. 4
:;:;:;;:
1,278.8
410 5
90.7
76.8
736.5
38.8
569.3
.25
.26
.27
.28
1,522.6
462.0
82.7
63.2
894.9
51.9
704.8
1,369. 3
408.5
76.6
65.9
806.8
43.1
637.9
54 0
257.1
.58
83.0
70 3
323.73
188. 43
142. 89
135. 30
401. 70
70.62
55.41
331. 08
289. 00
194. 89
31.56
18.41
12.50
13.14
27 85
5.76
4.44
2? 09
18.42
12.28
27.85
14.88
11.89
12.97
30.03
5.30
3.98
24.73
21.17
14.44
25.73
14.40
11.25
11.33
35. 69
5.01
3.84
30.68
27.38
18.47
24.67
14.01
10.80
10.66
40.32
5.92
4.61
34.40
30.70
21.35
27.07
16.07
12.00
11.00
37.93
5.69
4.78
32.24
28.81
19.83
29.20
17.03
12.87
12.17
37.97
5.74
4.31
32.23
28. 79
19.70
32.31
18.70
14. 89
13.61
41.04
6.65
5.23
34.39
31.17
20.51
28.62
16.37
12.57
12.24
35.15
6.90
5.47
28.25
24.50
16.59
28.55
16.92
12.50
11.64
33.81
6.52
5.24
27.29
23.00
14.24
26.13
15.44
10.95
10.69
'35.77
'7.28
'5.66
28.49
23.85
15.57
27.22
15.77
10.99
11.45
'29.31
'5.57
'4.43
23.74
20.31
12.94
32.09
18.54
13.65
13.55
' 36. 10
'6.82
'5.05
c 29. 28
25.24
15.31
94.1
15.9
33.6
17.0
28.4
7.7
1.1
2.2
1.3
7.6
1.0
2.9
1.9
28.1
21.2
8.1
1.3
2.9
1.3
4.4
1.5
8.9
1.2
5.8
1.2
8.7
1.2
5.3
1.2
211.9
21.3
4.9
2.5
7.8
1.3
4.0
1.9
29.3
2.4
1.5
8.1
1.7
2.4
1.0
210.3
2.1
1.4
150.2
205.8
134.0
211.2
150.6
219.6
155.6
209.0
153.8
206.8
171.2
204.3
172.5
198.5
172.5
197.3
172. 5
206.0
177.5
205.0
177.5
205.5
177.5
206.0
29.11
16.54
12.52
12.58
WOOL AND MANUFACTURES
Wool consumption, mill (clean basis) :
Apparel class
mil Ib
'74.9
Carpet class
do
'18.6
Wool imports, clean yield
do
26.9
Duty-free (carpet class)
_do
15.2
Wool prices, raw, shorn, clean basis, delivered to
U.S. mills :cf
Domestic— Graded territory, 64's, staple 2%"
and up
.
cents per Ib
176.0
Australian, 64's, Type 62, duty-paid
do
242.8
Wool broadwoven goods, exc. felts:
Production (qtrly.)
mil. lin. yd..
81.0
78.9
21.7
19.4
20.4
21.5
21.3
5.6
2.1
5.9
1.7
173.5 ' 176. 2
177.5
212 A
21.7
FLOOR COVERINGS
Carpet, rugs, carpeting (woven, tufted, other), shipments, quarterly*...
mil. sq. yds..
212.9
939.1 ' 834. 1
' Revised.
i Season average.
2 F0r 5 weeks; ether m onths, 4 weeks,
3 Mont hly
average.
< Less than 500 bales.
* Beginning 1st qtr. 1975 , quarter' y data o mit proc uction and stocks of saran and spandex yarn; for6 1974 £md 1975, such pro duction included in
7
annual
data)
totaled
11.9
and
11.7
mil.
Ibs.
Acefc ite only.
For 11 month s.
8
Season average to Apr. 1, 1976.
*New series. Cotton market prir>e (U.S. Dept. ol Agricul ture) ava lable me nthly b ack
to 1947. Manmade fiber gray goods (owned by we iving m: 11s) ratio from Anner. Tex tile
Manufacturers Institute, based on BuCensus data; manmad e fiber rrlanufactv ires expc>rts
'221,1
' 221. 7
223.8
data— a vailable
uCensus
sed
on
B
RS),
ba
Iture
(E
rf
Agrici
.
Dept.
rom
U.S
mports
f
and i
back to 1960. Exports and imp orts, orig inally re ported in varying units, ar e conver ,ed into
re
(inclu ding an
mufactu
their
m
imed
in
)er
consi
made
ftl
3
of
man
juantitie
apprc ximate c
1
adjus tin en t foi waste) . Not inchided are raw (unrnanufact ured ) fib ers and i mports o f certain
back
to 1968 are
y
data
quarter
revised
]
Census)
ents
(Bi
textu red yarn s. Carp 3t shipm
ht (480-lt).) bales,
? Includes data no t shown separate y.
J)
avaikible.
French
ne
good
gnated
f
erly
desi
ice
form
>r
the
pr
c?E ffective Jan. 197€ , specific ations f(
comb ing and s taple ha\ e been ctlanged as shown a bove. Ef fective w ith the M[ay 1976 S UBVEY,
«
Cor
rected
the fo reign wool price i s quoted includin g duty.
June 1976
SURVEY OF CURRENT BUSINESS
S-40
1975
1974
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown
in the 1973 edition of BUSINESS STATISTICS
1975
Apr.
Annual
May
June
July
Aug.
1976
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
19, 022
May
TEXTILE PRODUCTS— Continued
APPAREL
Hosiery shipments
thous. doz pairs
Men's apparel cuttings:
Suits J
thous. units
Coats (separate), dress and sport J
. ...do
Trousers (separate) , dress and sport J
do
Slacks (jeans-cut), casual* J
thous. doz
Shirts, dress, sport, inc. knit outerwearj
do
217,905
1
1
16, 754
19, 098
1 158, 284
i 12, 294
1
36, 437
225, 514
18, 258
17, 022
21,297
20, 154
22, 844
20, 347
21,806
19, 070
16, 853
17, 790
17, 654
20,811
14, 380
10, 599
92, 685
12, 343
28, 113
1,096
1,101
7,464
1.117
2,348
1,200
982
7,147
993
2,295
1,199
876
7,229
1,045
2,253
894
734
6,605
818
1,891
1,315
745
8,171
926
2,466
1,211
776
8, 975
1,039
2,490
1,489
1 Oi:>3
9,196
1,212
2,962
1,364
816
8,009
1,088
2,561
1,227
875
6,667
968
2,149
1,478
1,052
9,567
1,017
2,629
1,396
1,024
8,831
1,056
2,736
1,458
1,021
10, 112
1,252
2,856
306 1
3,926
229 0
437.2
4,780
258 8
TRANSPORTATION EQUIPMENT
AEROSPACE VEHICLES
Orders, new (not), qtrly. total
mil. $
U.S. Government-- _
.do
Prime con tract
. ._ _
_
_do
Sales (net), receipts, or billings, qtrly. total- do ._
U.S. Government._
do
32, 704
19,390
30, 239
26. 849
15,196
28, 815
18, 606
26, 456
29, 205
17,211
5 655
3 472
5 002
7,325
4 149
8 488
5 713
7,749
7,516
4 771
8,142
5,539
7,695
7,485
4,477
Backlog of orders, end of period 9 _. _
.do
U.S. Government
do
Aircrnft (complete) and parts.. _
.do
Engines (aircraft) and parts.
do __
Missiles, space vehicle systems, engines, propulsion units, arid pnrts
.
mil $
Other related operations (conversions, modifications), products, services
...mil. $ .
35, 516
20, 889
15, 489
3, 902
35, 126
22, 284
15, 499
3,580
33, 497
20280
13 990
3,744
34,469
21 222
14,171
3,876
35, 126
22, 284
15, 499
3,580
6,643
6,315
6 041
6,491
6,315
3,591
4,095
3,760
3,956
4,095
Aircraft (complete):
Shipments
.
Alrframe welirht
Exports, commercial _
.
.
do
. thous. Ib
mil. $
4,976
65, 573
3,360
5,062
60, 480
3 200
442 2
5,381
215 3
496 6
6,151
319 5
529 6
6 071
352 9
415 4
4,689
190 7
336 4
4 318
210 4
291 2
3 379
237 6
430 7
4 966
316 3
301 2
3 677
177 7
456.2
5,512
224 7
264.5
3,162
160 1
8,985
8,076
6, 713
6,073
2,272
2,003
772.3
691.6
586 2
529 9
186 2
161.7
807.2
721.4
612 6
555 2
194.6
166.2
840.9
753 7
632 1
571 3
208 8
182 3
681.7
624 1
504 5
466 5
177 2
157.7
662.7
606 7
484 6
447 9
178 2
158.8
896.7
812 9
667 5
605 7
229 1
207.2
981.8
885 1
745 6
673 4
236 1
211.6
801.7
714.0
605 9
538 4
195 8
175.6
772.9
698.9
579 5
528 2
193 4
170.6
855. 9 '
914. 2 1,110.4 1, 057. 2
797.9 r 844. 2 1,020.1
968.4
647 4
682 0
834 5
789 0
724 4
606 1 630 1 767 9
268.2
208.6 f 232. 2
275.8
244.0
191.8 ' 214. 0 252.1
660
518
142
7 6
5 9
17
741
603
138
8 0
6 4
16
726
591
136
88
7 2
16
889
774
115
9 2
7 7
15
744
655
89
8 7
7 5
12
701
600
102
9 4
8 0
1.4
679
588
91
9 6
8 4
758
651
107
10 2
8 9
14
947
816
131
10 9
9 5
1.4
914
788
126
10 3
8 9
1.4
922
794
128
10 2
8.7
1.6
1
213 9
MOTOR VEHICLES
Factory sales (from plants in U.S.), total
Dnrnestic
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
Domestics A
do
Imports A
do
Total seasonally adjusted at annual ratef
mil
DomesticsAt
-- do
Imports At
do
Retail inventories, new cars (domestics), end of
period :A
Not seasonally adjusted
__thous__
Seasonally adjusted!
do
r
r
8, 640
7,053
l 587
r
8 3
6 6
17
794
637
157
9 3
7 6
17
770
619
r 151
r
684
534
150
9 5
7 8
17
r
774 6
2
266. 7
1,419
1,502
1, 568
1 440
1,584
1 437
1,602
1 444
1,466
1 487
1,436
1 637
1,513
1 664
1,484
1 631
1,443
1 541
1,419
1 502
1,520
1 476
1,567
1 461
1,587
1 464
1,609
1 482
1,608
1,461
2.6
2.6
2.9
2.7
2.6
2.3
2.5
2 . 0O
2.5
2.4
2.3
2.1
2.0
1.8
2.0
2.0
thous
do
do
600.90
516. 59
214. 44
640. 30
550. 81
223. 47
56.85
49 11
20 83
58.20
52 23
22 44
56 70
50 72
23 04
40 37
35 46
19 93
36 22
33 35
17 99
53 60
49 61
14 85
64.69
54 72
18.44
74.21
64 90
15.29
59. 49
43.95
20.27
45.45
35.38
15.42
51.87
44.32
15.84
65.01
54.84
17.22
69.02
61.42
20.02
do
do
do
2, 572. 6
817.6
660.1
2, 074. 7
733.8
466.3
166 17
70 80
33 93
178 88
72 05
37 14
177 15
64 96
41 04
176 78
46 02
32 43
168 89
47 53
33 71
139 41
56 16
32 95
177 92
74 01
40 54
179. 64
66.41
38 70
215. 93
61.93
58. 65
242. 63
62.15
69.24
197. 78
70.05
60.12
250. 65
74.70
80.05
252. 62
85.21
80.04
73, 063
39, 774
8, 072
2,936
6 230
3 377
730
134
6 869
3 378
633
183
5 818
2 610
910
121
5 671
2 842
204
16
5 261
2 631
451
49
5 616
3 137
'397
78
7,680
4 489
960
112
4,904
2 719
967
181
5,725
3,503
1,020
161
5,220
3,129
436
25
8,105
4,704
837
32
8,666
5,511
1,071
214
3 581 3 4 656 8
3
126 4 44 130 8
3
176 8
197 2
4 735 6
4
137 4
4
215 7
4 764 9
4 144 7
4
222 2
4 735 s
4 150 4
4 214 9
4 738 9
4 143 6
4 019 5
4 799 2
4
120 8
4
236 3
4
632 6
80 7
4
191.4
4
4
4
4 782
5 116
4 545
4 074
2 498 s 2 220
2 520
1 373
58, 239 54, 662
48, 477 45, 908
5 521
4,854
815
815
49, 612
41,525
6 657
5 853
7,405
7,005
48, 540
40, 857
5 757
5 022
3,014
3,014
45, 741
38, 793
7,426
6,388
4,049
4,049
40,135
34, 025
5,102
4,429
4,275
1,525
39,172
30,985
4,787
4,069
1,587
1,587
35,817
28,348
5,555
4,819
1,867
1,666
32, 161
25, 227
5,118
4,401
1,782
1,782
28, 794
22,577
1,363
8.0
98 68
79 40
1,362
8.2
98 70
72 47
1,357
8.5
98 53
72 59
1,358
8.6
98 81
72 77
1,359
8.6
99 09
72 89
1,364
8.7
99 43
72 91
1,362
8.7
99.65
73.14
1,351
8.5
98.98
73.28
1,347
8.5
98.87
73.38
Truck trailers and chassis, complete (excludes
detachables), shipments ©
number
Vans
do
Trailer bodies (detachable) sold separately do
Trailer chassis (detachable) sold separately do
Registrations (new vehicles):©
Passenger cars
Imports, incl. domestically sponsored
Trucks.....
8,867
7,454
1 413
1,041.4
2
1,672
1,755
[nventory-sales ratio, new cars (domestics)At
ratio, .
Exports (Bureau of the Census):
Passenger cars (new) , assembled. _
To Canada
Trucks and buses (new), assembled
Imports (Bureau of the Census):
Passenger cars (new), complete units
From Canada, total.
Trucks and buses 1
10, 059
9,191
7,331
6,721
2,727
2,470
thous
do
do
•207,883
137,479
i 16, 359
14, 922
1
14
8,701
1
* 1, 369
14
4
4
4
i 67 038
i 63 243
i 97 929
i gs' 276
90 916
79 009
72, 367
65, 845
33, 484
32, 259
40, 135
34, 025
5 836
5,332
1,485
1,485
73, 389
63, 174
5 975
5 434
1,813
1,813
68, 007
58, 333
6 741
6 275
631
631
60, 890
51,682
1 375
6 4
1,359
8.6
99 09
72 89
1,363
7 2
98 04
71 92
1,36P
7 5
98 36
72 02
1,363
7 6
98 32
79 15
2, 657
8, 262
1, 501
2, 397
4
820 9
100. 7
241. 2
4
676. 7
89. 3
205. 0
4
4
634. 5
87. 3
194. 6
4
4
4
4
4
4
763. 9 3 883. 7
102. 4 3 130. 2
233. 3 3 271. 0
RAILROAD EQUIPMENT
Freight cars (new), for domestic use; all railroads
and private car lines (excludes rebuilt cars and
cars for export) :
Shipments
number
Equipment manufacturers
do
New orders .
do
Equipment manufacturers
do
Unfilled orders, end of period
do
Equipment manufacturers
do
Freight cars (revenue), class 1 railroads (AAR):§
N u m b e r owned, end of period
thous
Held for repair^ % of total owned
Average per car
r
tons
no 09
71 49
2
Revised.
i Annual total includes revisions not distributed
by months.
Estimate
4
of production, not factory sales.
3 Excludes 2 States.
Excludes 1 State.
& Reflects
cancellation of cars previously ordered.
t Annual figures ("Apparel 1974" M23A74):
Survey was expanded and classifications changed; not comparable with data prior to 1973.
*New series. Data cover all types of men's jeans, but exclude dungarees, overalls, and
work pants.
9 Total includes backlog for nonrelated products and services and basic research.
1,360
7.8
98 58
72 49
tRevised seasonally adjusted data (1971-74) are shown on p. 5 of the Mar. 1976 SURVEY.
A Domestics 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.
©Courtesy of R. L. Polk & 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
15,16
Eating and drinking places
12,13
Eggs and poultry
3,8,9,29
Electric power
5,9,26
Electrical machinery and equipment
4,6,
7,9,14,15,20,23,24,34
Employment estimates
14
Expenditures, U.S. Government
19
Explosives
26
Exports (see also individual commodities)
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 . . . 1,4-6,8,9,11,14-16,20,22,23,27-30
Foreclosures, real estate
11
Foreign trade (see also individual com mod.)
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. .
II, 16
Aerospace vehicles
40
Agricultural loans
17
Air carrier operations
24
Air conditioners (room)
3*
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
Balance of international payments
Banking
Barley
Battery shipments
Beef and veal
Beverages
Blast furnaces, steel mills
Bonds, issued, prices, sales, yields. . •
Brass and bronze
Brick
Building and construction materials... .
Building costs
Building permits
Business incorporations (new), failures.
Business sales and inventories
Butter
*...
3
17,18
27
34
28
23,27
9,11, 22,
5-7
20,21
33
38
4,6,
7,11 31,38
10,11
10
7
5
27
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, sales
...........................
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
Corn
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
............................
3, 8, 9, 27
Debits, bank
.................................
17
Debt, U.S. Government
.......................
19
Deflators, GNP ........ .
.....................
2
Department stores
............................
12, 13
Deposits, bank
...............................
17, 20
Dishwashers
...........................
. . ...... .
34
Disputes, industrial
........................
...
16
Distilled spirits
...............................
27
Dividend payments, rates, and yields ....... 2, 3, 20, 21
Drug stores, sales
....................
.........
12, 13
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
5,9,26
1,35
38
26
19
8,9,22,27,28
12,13
1
2
1
9,38
Hardware stores
12
Heating equipment
9, 34
Hides and skins
9,30
Highways and roads
10,11
Hogs
28
Home electronic equipment
9
Home Loan banks, outstanding advances
11
Home mortgages
11
Hosiery
40
Hotels and motor-hotels
25
Hours, average weekly, aggregate
15
Housefurnishings
1,4,8,11,12
Household appliances, radios, and television sets.
4,
8,9,12,34
Housing starts and permits
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
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
8
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
Railroads
Ranges
Rayon and acetate
Real estate
Receipts, U.S. Government
Recreation
Refrigerators
Registrations (new vehicles)
Rent (housing)
Retail trade
Rice
Rubber and products (incl. plastics)
4,11,34
2,16,17,21,24,40
34
39
11,17,19
19
8
34
40
8
5,7,12-16,18
28
5,6,
9,14-16,23.37
Saving, personal
Savings deposits
Securities issued
Security markets
Services
Sheep and lambs
Shoes and other footwear
Silver
Soybean cake and meal and oil
Spindle activity, cotton
Steel (raw) and steel manufactures
Steel scrap
Stock market customer financing
Stock prices, earnings, sales, etc
Stone, clay, glass products
Sugar
Sulfur
Sulfuric acid
Superphosphate
2
17
20
20-22
1,8, 14-16
28
9, 12,30
19
30
39
23, 31,32
31
20
21,22
*
4-6,9,14,15, 20,38
23,29
25
25
25
29
Tea imports
25
Telephone and telegraph carriers
Television and radio
4, 11,34
Textiles and products
4,6,9,14-16,20, 23, 38-40
33
Tin
Tires and inner tubes
9,12, 13, 37
Tobacco and manufactures
5,6,8,14, 15, 30
34
Tractors
,
Trade (retail and wholesale)
5,11,12, 14-16
24
Transit lines, local
Transportation
1,2,8,14-16,20-22, 24,25
Transportation equipment
4,6, 7,14,15,,20,40
24,25
Travel
40
Truck trailers
34,40
Trucks (industrial and other)
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 2
~ i
finance
1"
2,5,8,10,21,22,26
34
• • 12,13
23,29,30
8,9
17
2,3, 15, 16
34
34
28
8,9
••••
5,7,11, 14-16
36
9,39
33
UNITED STATES
GOVERNMENT PRINTING OFF
P.'GLIC DOCUMENTS
DEPARTMENT
WASHINGTON, D.C. 2O4O2
Volume 56
Numbers 1—6
197O CONTENTS—SURVEY
RUSINESS
INTERNATIONAL TRANSACTIONS
DOMESTIC ECONOMY
No.
The National Income and Product Accounts of
the United States: Revised Estimates, 1929-74
(Parts I, II)
The Unemployed: Job Losers, Leavers, Reentrants, and New Entrants
State and Local Fiscal Position
Federal Fiscal Programs
Business Plans Small Increase in 1976 Capital
Spending
National Expenditures for Pollution Abatement
and Control, 1973
Revised Passenger Car Retail Sales and Inventories
Plant and Equipment Expenditure Programs,
1976.
Alternative Estimates of Capital Consumption
Allowances and Profits of Nonfinancial Corporations, 1929-75
Earnings Increases, 1969-73
Fixed Nonresidential Business and Residential
Capital in the United States, 1925-75
Revised First Quarter GNP
Manufacturing and Trade Inventories and Sales
in Constant Dollars, 1959 to First Quarter 1976.
Revised First-Quarter Corporate Profits and
GNP
Federal Budget Developments
Business Raises 1976 Capital Spending Plans
OF CURRENT
No.
Page
3
4
15
28
30
5
14
Pag.
Capital Expenditures by Majority-Owned Foreign
Affiliates of U.S. Companies, 1975 and 1976 and
1966-76 Trends
U.S. Balance of Payments Developments Fourth
Quarter and Year 1975
Sales by Majority-Owned Foreign Affiliates of
U.S. Companies, 1974
Benchmark Survey of Foreign Direct Investment
in the United States, 1974
Report of the Advisory Committee on the Presentation of Balance of Payments Statistics....
U.S. International Transactions: First Quarter
1976
20
30
25
35
18
28
53
19
46
1
11
3
3
13
REGIONAL ECONOMICS
No.
Pag.
Tracking the BEA State Economic Projections. . .
Contrasting Developments in the States During
Recession and Early Recovery
LATEST SUPPLEMENT—Business Statistics 1975 Biennial Edition (S.N. 003-024-01210-3): Price $5.10
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