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JUNE 1981 / VOLUME 61 NUMBER

SURVEY OF CURRENT BUSINESS
CONTENTS
THE BUSINESS SITUATION

1

Reconciliation and Other Special Tables

7

National Income and Product Accounts Tables

8

U.S. Department of Commerce
Malcolm Baldrige / Secretary
William A. Cox / Acting Chief Economist
for the Department of Commerce

Capital Expenditures by Business for
Pollution Abatement, 1973-80,
and Planned 1981

19
Bureau of Economic Analysis

Plant Equipment Expenditures,
the Four Quarters of 1981

26

George Jaszi / Director
Allan H. Young / Deputy Director

U.S. International Transactions,
First Quarter 1981

31

Carol S. Carson / Editor-in-Chief,
Survey of Current Business
Manuscript Editor: Dannelet A. Grosvenor
Managing Editor: Patti A. Trujillo

Staff Contributors to This Issue: Leo M. Bernstein,
Douglas R. Fox, Bruce T. Grimm, Eric R. Johnson,
Russel C. Krueger, Daniel J. Larkins, Betsy D. O'Connor, Robert P. Parker, Gary L. Rutledge, Edward I.
Steinberg, John T. Woodward.

CURRENT BUSINESS STATISTICS
General

SI

Industry

S22

Footnotes

S37

Subject Index (Inside Back Cover)

SURVEY OF CURRENT BUSINESS. Published monthly by the
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the BUSINESS SITUATION
HPHE economy weakened substantial•*• ly in the second quarter, following
strong increases in the two preceding
quarters. On the basis of information
available in mid-June, the secondquarter annual rate of change in real
GNP was within a 3 percentage point
range centered at zero.1 In the first
quarter real GNP had increased Sy2
percent, and in the fourth quarter of
1980 it had increased 4 percent. An
alternative measure of real GNP, derived by summing incomes earned in
the production of GNP and dividing by
the implicit price deflator for GNP,
increased less in the first quarter, and
more in the fourth, than did real GNP.
The two-quarter average increase for
the two measures was about 6 percent,
as was noted in the May "Business Situation." The differences in timing between the two measures are due to imperfections in source data and estimating techniques.
1. The major source data that shed light on second-quarter GNP are limited to 1 or 2 months of
the quarter, and in some cases are preliminary.
These data are: For personal consumption expenditures (PCE), April and May retail sales, unit
sales of new autos through the first 10 days of
June, and sales of new trucks for April and May;
for nonresidential fixed investment, the same data
for autos and trucks as for PCE, April construction put in place, April manufacturers' shipments
of equipment, and business investment plans for
the quarter; for residential investment, April construction put in place, and April and May housing starts; for change in business inventories,
April book values for manufacturing and trade,
and unit auto inventories for April and May; for
net exports of goods services, April merchandise
trade ; for government purchases of goods and services, Federal unified budget outlays for April, State
and local construction put in place for April, and
State and local employment for April and May;
and for GNP prices, the Consumer Price Index for
April and the Producer Price Index for April and
May.




Information relating to motor vehicle monthly basis, gasoline prices have
production and residential investment edged down since March.
Increases in the prices of other major
is relatively complete, and shows that
these components of real GNP regis- categories of final sales to domestic purtered changes that roughly offset each chasers—PCE on other than food and
other. Motor vehicle production, dis- energy, structures, producers' durable
cussed later in the "Business Situation," equipment, and government purchaswas up about $2 billion (1972 dollars) ; es—were in the range of Si^-lO1/^ perfinal sales dropped $10 billion and in- cent at annual rates. These rates of inventories swung sharply from decum- flation were about the same as in the
ulation to accumulation.2 Residential first quarter, and represent deceleration
investment was down about $3 billion.
Changes in all other components of real Table 1.—Personal Income and Its Disposition: Change
from
Preceding
GNP also appear to have roughly offset
Quarter
each other.
[Billion of dollars, based on seasonally adjusted
annual rates]
Prices.—The fixed-weighted price index for GNP increased about 2 per1981
centage points less than the 10-percent
1980:
IV
I
II*
annual rate registered in the first quarter. The deceleration was due to sharply
Wage and salary disbursements. . . 56.0
45.1
22.6
Manufacturing . _
18.2
lower price increases for food and
12 4
92
Other commodity-producing
5.7
4.9
-3.9
Distributive
_. 11.4
energy. The prices of personal con11.4
6.8
Services
11 3
12 5
74
Government and government
sumption expenditures (PCE) on food
enterprises
.
.
._
9.4
3.9
3.1
increased only slightly, following a G1/^Proprietors' income
43
—1 9
30
Farm
.3
—3.5
percent increase in the first quarter.
3.1
0
Nonfarm. _
3.9
1.6
Meat and poultry prices again declined,
Personal interest income
12 9
79
19 0
3.2
4.2
5.7
but the decline was not offset by sharp Transfer payments
Other income
..
6.6
5.8
6.8
increases in some other food categories, Less: Personal contributions for
.7
social insurance
31
11 0
as it had been in the first quarter. The
74.1
Personal income
48.6
63.6
prices of PCE on energy increased at
Less: Personal tax and nontax
1
10.5
17.7
payments
12.8
less than one-fourth the SO /^-percent
Impact of legislation
-1.3
-.6
-2.8
18.3
15.6
11.8
rate in the first quarter, when they reflected the yearend increases in the Equals: Disposable personal in50.8
38.1
56.4
come
prices of foreign crude oil and the de29.0
70.2
59.5
Less* Personal outlays
control of domestic crude oil and petro- Equals* Personal saying
9.1
—8.7
—13 8
leum products in January. SecondAddenda: Special factors—
.1
Federal pay raise
6.1
quarter gasoline prices showed only a
2.0
Minimum wage
Cost-of-living
increases
in
small increase, following an increase of
1.3
2.5
Federal transfer payments —
1.1
Social security (hi personal con45 percent in the first quarter. On a
2. Quarterly estimates in the national income
and product accounts are expressed at seasonally
adjusted annual rates, and quarterly changes in
them are differences between these rates.

tributions for social insurance):
Base change
Rate change

*Projected.

2.3
6.7

SUKVEY OF CURRENT BUSINESS

CHART 1

only relative to those that characterized
the quarters of 1979 and early 1980.
Personal income and its disposition
The second-quarter weakening in
the economy was visible in personal income as a sharp deceleration in wage
and salary disbursements—the largest
component that is earned in production.
Wages and salaries increased only
about one-half as much as the $45 billion increase registered in the first quarter (table 1). Wages and salaries in construction and mining—included in
other commodity-producing industries
in table 1—declined, mirroring the decline in construction activity and the
coal strike. Other private wages and
salaries increased much less than in the
first quarter. Only about $2 billion of
the deceleration was accounted for by
the increase in the minimum wage,
which was centered in the distributive
and services industries and added to the
first-quarter increase. A deceleration in
government largely reflected a decline
in State and local employment due to
the wind-down of programs funded by
the Comprehensive Employment and
Training Act (CETA).
Nonf arm proprietors' income showed
little change after a first-quarter increase, reflecting declines in construction activity and in retail trade. In
contrast, farm proprietors' income increased after a drop—$3i/£-billion—in
the first quarter. The swing was largely
due to livestock prices, which declined
sharply in the first quarter and partly
recovered in the second.
In personal interest income, the increase was substantially smaller than
the $19 billion increase in the first quarter. The first-quarter increase—an unusually large one—had been due to a
step-up in interest rates on securities
held by persons or by financial intermediaries in their behalf. In the second
quarter, these interest rates increased
much less.
The slowing in personal income—
from an increase of $63i£ billion to one
of $48% billion—was less than that in
the incomes just reviewed, because personal contributions for social insurance,
which are deducted in deriving personal
income, increased about $10 billion less



June 1981

Housing Starts
Millions of Units
2.51
Total

2.0

1.5

1.0

I
1977

J_
1978

1979
1980
Seasonally Adjusted at Annual Rates

1981

Data: Census
U.S. Department of Commerce, Bureau of Economic Analysis

than in the first quarter. The first-quar- percent in the first quarter of 1981,
ter increase was largely due to the edged up in the second.
In real terms, disposable income inJanuary 1 step-ups in the tax rate and
creased only i/£ percent at an annual
in the wage base for social security.
Largely following the course of rate, compared with 3 percent in the
wages and salaries, the increase in per- first quarter. The second-quarter insonal tax and nontax payments also crease was the smallest since the recesslowed. Disposable personal income in- sion a year ago.
Real PCE.—RB&l PCE declined li/2
creased $38 billion, compared with $51
billion in the first quarter. The increase percent at an annual rate in the second
in personal outlays slowed even more quarter, following a 6-percent increase
than that in income, so that personal in the first. Sharp changes in motor vesaving increased. The personal saving hicles continued to be a major factor in
rate, which had dropped from 6.2 per- the course of PCE. On a quarterly basis,
cent in the second quarter of 1980 to 4.6 motor vehicles declined $8 billion in the

No July Revision of the NIPA's
The regular annual revision of the national income and product accounts (NIPA's)
will not be made this July because key source data will not be available in time for
incorporation. The key source data that will not be available are: Preliminary tabulations for 1978 and 1979 and final tabulations for 1977 for corporate income tax returns
from the Internal Revenue Service, the Annual Survey of Manufactures for 1979 and
Governmental Finances for 1979-80 from the Census Bureau, and revised estimates of
farm income for 1978-80 from the Department of Agriculture.
Annual and quarterly estimates for 1980 published in the NIPA tables in the April
1981 SURVEY OF CURRENT BUSINESS and annual and monthly estimates for 1980 of personal income and outlays published in the statistical ("S") pages of the March 1981
SURVEY will not be revised until July 1982 unless source data become available that
indicate the advisability of an earlier revision. Estimates for 1977-79, forthcoming in
National Income and Product Tables, 1976-79, also will not be revised until July 1982.

June 1981

SURVEY OF CURRENT BUSINESS

second quarter, more than accounting
for the $3 billion decline in total PCE;
they had accounted for $5% billion of
the $131^ billion first-quarter increase.
From January through May, the sizable monthly changes in total PCE—
an increase in January and a decline in

April—were due to motor vehicles; all
other PCE combined showed only small
monthly changes.
Real PCE on other than motor vehicles increased somewhat less than the
31/2 percent annual rate registered in
the first quarter. Other durables deCHART 2

Selected Interest Rates
Percent
22
SHORT TERM

Other final sales

20

18

16

14

12

10

18

clined; a decline in furniture and equipment reflected flagging construction
activity and home sales. Nondurable®—
mirroring food, and clothing and
shoes—increased less than in the first
quarter. Gasoline and oil declined
again, continuing a 2-year downtrend
that had been interrupted only in the
fourth quarter of 1980. Services, in contrast, increased more than in the first
quarter, when they were held down by
a decline, due to unseasonably warm
weather, in PCE on electricity and
natural gas for home heating.

MORTGAGES FOR NEW HOUSES

16

14

12

10

8

I

1977

1978

*At end of the month.
U.S. Department of Commerce, Bureau of Economic Analysis




1979

1980

I

! I

1981
Data: FRB, FHLBB
81-6-2

Real residential investment declined
$3 billion in the second quarter, after
changing little in the first. In the first
quarter, new construction had increased,
but the "other" component, which includes brokers' commissions on the sale
of residences, had registered an offsetting decline. In the second quarter, construction, which reflects housing starts
with a lag, declined and the "other"
component changed little. The increase
in housing starts, which began in mid1980, continued through January of this
year; strong increases in multifamily
starts more than offset some late-1980
softening in single-family starts. Both
dropped sharply in February. Subsequently, multifamily starts have held at
the February level, but single-family
starts, after recovering somewhat in
March and April, fell even lower in
May (chart 1). Reflecting this pattern
and the shorter lag between starts and
completions for single-family units, investment in single-family residences
was down in the second quarter and
investment in multifamily residences
was unchanged.
Unfavorable financial conditions were
a major factor in the decline in residential investment in the second quarter.
Deposits (exclusive of interest credited)
at mutual savings banks and savings
and loan associations fell $9% billion
during the first 4 months of the year—
a record $6% billion in April alone. Sixmonth money market certificates
(MMC's)—usually a source of deposit
strength at thrift institutions—were flat
in both March and April. Thrifts were
able, however, to roll over the $100 bil-

SUKVEY OF CUKEENT BUSINESS
lion of MMC's—40 percent of thrift
MMC's outstanding—that matured in
those 2 months, although they did so at
interest rates about 2 percentage
points higher than on the maturing
certificates.
Partly as a consequence of these developments, the commitment interest
rate on 25-year mortgages with a loanto-price ratio of 75 percent drifted upward until early April and then jumped
55 basis points, reaching 15.65 percent
in early May (chart 2). Moreover, the
prime rate—to which construction loans
are tied—was high throughout the period. Most of the decline that had
occurred in January-April was erased
by a 3 percentage point increase in May,
to 2Q1/2 percent; by mid-June the prime
rate had receded to 20 percent.
Real nonresidential fixed investment
declined in the second quarter after a
IS^-percent annual rate increase in the
first. More than one-half the decline was
in motor vehicles; other producers' durable equipment declined after a firstquarter increase, a substantial part of

which was in computers. Structures
-percent
showed no change after a
ncrease, as investment in commercial
and industrial structures flattened out.
The lackluster performance of nonresidential fixed investment in the second
quarter is in line with plans for 1981 reported in the BEA plant and equipment
survey, which are discussed later in this
issue.
On the basis of very limited information, real net exports showed little
change after a $2i/£ billion increase in
the first quarter. Agricultural exports
declined after a $2 billion increase in the
first quarter. The unusually large increase had been due partly to a slowing
in the increase in the prices of U.S.
agricultural exports and partly to a rebound from temporarily reduced demand in the fourth quarter of 1980. Petroleum imports held about steady. At
an average of 6.6 million barrels a day—
the first-quarter level—they were 10
percent below a year ago.
Real government purchases—Federal
and also State and local— declined in
the second quarter. As has often been

June 1981

the case in recent quarters, agricultural
price support operations of the Commodity Credit Corporation were the
major element in the change in Federal
purchases. In the national income and
product accounts, new loans to farmers
are treated as Federal purchases, and
redemptions of crops placed under loan
earlier are treated as negative Federal
purchases. In the second quarter, crop
redemptions about equaled new loans,
so that net purchases were close to zero.
In the first quarter, net purchases had
been about $2 billion. The decline in
State and local government purchases
was primarily in structures. The decline
in structures may be the beginning of
a downtrend due to the limitation of
growth of Federal grants-in-aid supporting specific types of construction
and the elimination of the State portion
of general revenue sharing. Employee
compensation also declined, traceable to
the wind-down of CETA programs.
Summing up
This review has shown that all components of final sales weakened in the

Table 2.—Selected Labor Market Indicators
[Seasonally adjusted]

1980

II

Change from preceding quarter

1981

III

IV

I

Jan.

Feb.

Mar.

Apr.

May

1980: III

1980: IV

1981:1

1981: May

Household surrey
Civilian labor force (thousands)
Employment
Unemployment .
Job losers _
On layoff
O ther job losers.. .
Job leavers, reentrants, and new entrants
Unemployment rate (percent):
Total
Adult men
Adult women
Teenagers

. .

Civilian labor force participation rate (percent) :
Total
Adult men
Adult women
Teenagers

104,693
97,040
7,652
4,071
1,716
2,355
3,645

104,982
97,061
7,921
4,357
1,758
2,598
3,610

105, 173
97, 276
7,897
4,232
1,538
2,693
3,665

105, 800
98,012
7,788
3,863
1,275
2,589
3,872

105, 543
97,696
7,847
3,847
1,258
2,590
3,946

105, 681
97, 927
7,754
3,896
1,267
2,629
3,782

106, 177
98,412
7,764
3,846
1,299
2,547
3,889

106,722
98, 976
7,746
3,819
1,280
2,539
3,858

107, 406
99,235
8,171
4,084
1,368
2,715
4,073

289
21
269
286
42
243
-35

191
215
-24
-125
-220
95
55

627
736
-109
-369
-263
-104
207

1,606
1,233
383
221
93
126
201

7.3
6.2
6.4
17.9

7.5
6.6
6.4
18.4

7.5
6.3
6.7
18.3

7.4
6.0
6.6
19.1

7.4
6.0
6.7
19.0

7.3
6.0
6.5
19.3

7.3
5.9
6.6
19.1

7.3
5.8
6.6
19.1

7.6
6.3
6.8
19.5

.2
.4
0
.5

0
-.3
.3
-.1

-.1
-.3
-.1
.8

.2
.3
.2
.4

63.9
79.6
51.4
57.0

63.8
79.4
51.5
56.5

63.7
79.2
51.4
56.4

63.9
78.9
51.9
56.9

63.8
78.8
51.8
57.0

63.8
78.7
51.9
57.0

64.0
79.2
52.1
56.6

64.3
79.4
52.3
57.7

64.6
79.8
52.6
57.4

-.1
-.2
.1
-.5

-.1
-.2
-.1
-.1

.2
-.3
.5
.5

.7
.9
.7
.5

90, 489
25,763
1,021
4,427

90, 131
25,317
1,018
4,362

90, 932
25, 780
1,054
4,475

91, 613
26, 013
1,094
4,547

91, 481
26, 041
1,086
4,610

91, 653
25, 988
1,095
4,518

91, 705
26, 010
1,100
4,514

91, 490
25,830
949
4,441

91, 474
25, 678
951
4,315

-358
-446
-3
-65

801
463
36
113

681
233
40
72

12, 176
8,138
2,*, 652
22, 778
16, 296

11, 878
8,059
25, 694
22,983
16, 137

12, 116
8,134
25, 785
23, 211
16, 156

12, 202
8,170
26,009
23, 452
16, 140

12,188
8,157
25, 904
23, 401
16, 135

12, 196
8,179
26, 041
23, 458
16, 166

12, 222
8,174
26, 081
23,496
16, 118

12, 259
8,181
25,970
23,572
16, 118

12, 238
8,174
26, 051
23, 673
16, 072

-298
-79
42
205
-159

238
75
91
228
19

86
36
224
241
-16

36
4
42
221
-68

35.1
39.4

35.1
39.3

35.4
39.9

35.4
40.1

35.5
40.4

35.3
39.8

35.4
40.0

35.4
40.1

35.3
40.2

0
-.1

.3
.6

0
.2

-.1
.1

Establishment survey
Employment, nonfarm payroll (thousands)
Goods producing
Mining
Construction
Manufacturing:
Durables..
...
Nondurables
_
Distributive
1
2
Services
Government
Average weekly hours, private nonfarm:
Total
Manufacturing

1. Transportation and public utilities, and wholesale and retail trade.
2. Services, and finance, insurance, and real estate.
Source: Bureau of Labor Statistics.




-139
-335
-143
-232

SURVEY OF CURRENT BUSINESS

June 1981

second quarter. Each component, after
a first-quarter increase, either registered
a decline—PCE, producers' durable
equipment, residential investment, and
government purchases—or little or no
change—business investment in structures and net exports. As a result, total
final sales of GNP declined substantially
in the second quarter.
As noted earlier, motor vehicle inventories swung from decumulation in
the first quarter to accumulation in the
second. This swing amounted to about
$12i/£ billion. Only limited information
is now available about other inventories
in the second quarter, but what there
is does not suggest that the rate of accumulation in the second quarter was
much different from the moderate rate
recorded in the first. If it is assumed
that the rate was not much different, the
total effect of inventories on the change
in real GNP was due to motor vehicle
inventories, and that positive swing
about offset the decline in final sales of
GNP.
Employment
and
hours.—The
second-quarter weakening was evident
also in the employment data from the
payroll survey and, to a lesser extent,
in average weekly hours. If May is taken
as representative of the second quarter,
nonfarm employment declined 140,000,
compared with increases of 680,000 and
800,000 in the first quarter of 1981 and

fourth quarter of 1980, respectively
(table 2). The weakening was widespread.
Employment
in goodsproducing industries, following two
quarterly increases, declined sharply, as
declines in construction (230,000) and
mining (140,000, due to the coal strike)
far exceeded a small increase (40,000)
in manufacturing. A decline in employment in government (68,000) included
the effect of the wind-down of CETA
programs. An increase in the distributive industries (40,000) was substantially smaller than the two preceding increases. Only in services industries did
employment not weaken; the increase
in these industries (220,000) was of
about the same size as the preceding
increases. (A revision of the payroll
data is scheduled for release by the
Bureau of Labor Statistics next month,
and the Bureau has indicated that the
movement in the last few months may
be modified to show more strength.)
Average weekly hours in the private
nonfarm economy were 35.4 in April
and 35.3 in May. The first-quarter average of 35.4 was held down by the low
February figure obtained during a survey week unrepresentative of the
month. If allowance is made for that
effect, increases in hours occurred in the
fourth and first quarters, but a decline
occurred in the second.

Table 3.—Motor Vehicle Output
[Billions of 1972 dollars!
Change from preceding quarter

1980: I

Output
Autos
Trucks
Final sales
Autos
Trucks Personal consumption expenditures
Autos
Trucks .
Producers' durable equipment
Autos. --Trucks
Other
Autos
Trucks
Change in business inventories
Autos.
Trucks -.

1981: II*

1980: II

1980: III

1980: IV

1981: I

1981: II*

58.2
42.5
15.7

-10.8
-7.9
-2.9

-0.6
0
-.6

10.3
8.2
2.1

-0.7
0
-.7

2.1
2.1
0

58.5
44.9
13.6

65.6
48.3
17.3

-18.0
-14.8
-3.2

3.7
3.3
.4

3.3
4.1

7.8
7.6
.2

-10.2
-10.0
-.2

52.2
38.5
13.7

49.5
43.7
5.8
19.5
9.1
10.4
-3.4
-4.5
1.1

-14.6
-13.3
-1.3
-3.8
-1.8
-2.0
.4
.4
0

4.2
3.9
.3
2.0
1.3
.7
-2.6
-2.0
-.6

2.9
3.2
-.3
-.6
.3
-.9
1.1
.6
.5

5.5
5.3
.2
.8
1.0
-.2
1.4
1.3
.1

-8.0
-8.0
0
-1.4
-1.3
-.1
-.7
-.7
0

39.5
34.8
4.7
16.5
8.6
7.9
-3.8
-4.9
1.1

7.1
6.8
.3

-4.1
-3.2
-.9

6.8
4.1
2.7

-8.4
-7.6
-.8

12.3
12.1
.2

6.3
6.4
-.1

-7.4
-5.8
-1.6

•Projected. Based on unit production in April and May and scheduled production for June, unit sales of autos through the
first 10 days of June and of trucks for April and May, and unit inventories for April and May.
NOTE.—For estimates through 1981: I, see tables 1.14-1.15 and 1.16-1.17 of the National Income and Product Accounts
Tables. Auto output includes dealers' margins on their used car transactions; truck output includes new trucks only.




The household survey presents a different picture of employment. If May
is again taken as representative of the
second quarter, employment as measured in the household survey increased
1,220,000, much more than in the two
preceding quarters. Of the several differences between the payroll and household surveys in coverage, definition, and
methodology, one was particularly
relevant in the second quarter: persons
on unpaid leave—whether on strike or
for other temporary reasons—are counted as employed in the household survey but not in the payroll survey.
The unemployment rate, which had
been 7.4 percent in the first quarter of
1981 and 7.5 percent in the fourth quarter of 1980, moved up from 7.3 percent
in April to 7.6 percent in May.
Motor Vehicle Developments in
the Second Quarter
Second-quarter changes in final sales
of motor vehicles and in the change in
motor vehicle inventories accounted for
almost the entire change in the GNP
components of which they are parts. As
shown in table 3, final sales of motor
vehicles declined $10 billion, with all of
the decline in autos. The positive swing
in the change in inventories, from substantial decumulation in the first quarter to even larger accumulation in the
second, was about $12% billion. Production, as noted earlier, was up $2 billion,
after a slight decline in the first quarter.
All of the increase was in autos; trucks
changed little.
In terms of units, new car production
was 7.1 million (seasonally adjusted annual rate) in April and 7.2 million in
May. Assuming that June production
was close to that scheduled by manufacturers at the beginning of the month,
second-quarter production totaled 7.1
million, up from 6.2 million in the first
quarter.
Total new car sales fell sharply to an
average of 8.0 million (seasonally adjusted annual rate) in April-May from
10.2 million in the first quarter (chart
3). A portion of this drop occurred because some sales that otherwise would
have been made in April and May were

SURVEY OF CURRENT BUSINESS

6

June 1981

the slowdown in the growth of real dis- ported car sales fell from 2.7 to 2.2
posable income, an increase in new car million.
The step-up in domestic production
prices (domestic manufacturers' average price increases ranged from 2 to 31/2 and the drop in sales resulted in an inpercent per unit), and a continued rise crease in inventories. The increase, alin interest rates on auto installment though large, appeared intentional:
loans. Subcompact car sales declined Stocks of some models that had been defrom 1.8 to 1.5 million, and full-size car pleted were rebuilt; stocks of several
sales remained weak at 1.3 million. Im- intermediate models were added to in
preparation for major model changeovers
in the third quarter; and stocks of
CHART 3
new
subcompact
models were built up
Retail Sales of New Passenger Cars
prior
to
their
May
introduction. At the
Million Units
12
end of May, domestic new car invenTOTAL
tories were about 1,240,000 (seasonally
adjusted), up from 1,013,000 in the first
11
quarter. The inventory-sales ratio increased from 1.6 in the first quarter to
about 2.6 in May. The ratio was higher
10
than the 2.0 preferred by the industry,
but, given the low level of unit inventories, a small recovery in sales would
bring the ratio back into line.
In terms of units, new truck production was scheduled to increase only
slightly in the second quarter. Sales of
domestic trucks were unchanged in
April-May from 1.9 million (seasonally
adjusted annual rate) in the first quarDOMESTIC LARGE GARS
ter; sales of imported trucks were
intermediate
down.

made in February and March, when extensive cash rebates were offered. Intermediate and compact car sales—on
which the bulk of the rebates were
offered—were especially hard hit. Intermediate sales fell from 2.2 million in
the first quarter to 1.6 million in AprilMay, and compact sales from 2.0 to 1.3
million. Sales were held down also by

First-Quarter Corporate Profits

Full-Size

DOMESTIC SMALL CARS AND IMPORTS
Imports

Subcompact

nl i i i i i i i i t i i I i i t i i i i i i i i I i i i i i i ! i i i i I
1978

1979

1980

Seasonally Adjusted at Annual Rates
Note.—The components may not add to the total because each category was separately adjusted for seasonal variation.
Data: Motor Vehicle Manufacturers Association of the United States, Inc. and Ward's Automotive Reports; seasonal adjustment by BEA.
U.S. Department of Commerce, Bureau of Economic Analysis




1981

Corporate profits from current production—profits with inventory valuation and capital consumption adjustments—increased $19i/£ billion, to $203
billion, in the first quarter of 1981. This
is $1/2 billion above the estimate published a month ago. An upward revision
in manufacturing profits more than offset downward revisions in other domestic nonfinancial industries and in
profits from the rest of the world. With
the first-quarter increase, profits regained their previous peak level, which
occurred in the fourth quarter of 1978.
Domestic profits of nonfinancial corporations increased $24 billion to $152
billion. About two-thirds of this increase was in manufacturing. Manufacturing profits include $21/£ billion in
interest (at annual rate) paid to the
Penn Central Transportation Company
as part of a settlement for the value of
assets transferred by Penn Central to
Conrail in 1976.

SURVEY OF CUEEENT BUSINESS

June 1981

Recent developments in nonfinancial
profits.—Detail by industry for nonfi[Billions of dollars; seasonally adjusted at annual rates]
nancial corporations is available for
profits with inventory valuation adjustChange from preceding quarter
ment
but without capital consumption
1981:
1980:
1979:
I
1980:
1980:
1981:
I
I
1980:
1980:
adjustment.
In the first quarter of 1981,
II
I
III
IV
I
manufacturing profits increased sharp15.2
-30.8
7.2
7.7
91.4
99.4
92.1
11.9
Manufacturing
ly, reflecting increased sales in most
2U
1.9
-5.7
-3.1
-2.3
7.3
15.0
31.0
Petroleum and coal products.
69. (
13.3
10.3
10.0
-25.1
84.4
4.6
61.1
Other .
.manufacturing industries. The firstNondurable goods other than petroquarter level of manufacturing profits
37 A
1.0
3.6
7.3
-7.1
33,0
33.5
5.8
leum and coal products10.,
-1.0
-1.5
2.9
1.9
6.6
8.2
1.5
Food and kindred products
was
near to its pre-recession value of the
10. J
1.0
2.1
2.2
1.1
9.4
-2.8
8.8
Chemicals and allied products
17. (
1.0
3.2
-.4
16.0
2.2
17.4
-2.8
Other
first quarter of 1980, but was still below
31. *
9.3
6.0
-18.0
6.4
50.9
-1.2
28.1
Durable goods
5.; its peak value, which occurred a year
-1.3
-3.9
1.5
3.1
5.9
3.1
4.8
Primary metal industries
4.
2.2
-.7
-3.5
.9
5.2
.4
5.5
Fabricated metal products
earlier (table 4). Within manufactur.5
2.7
8.*
-1.6
9.3
7.3
-.7
-.1
Machinery except electrical.
3.1
1.7
-.2
-2.8
6.6
.9
8.'
7.1
Electric and electronic equipment —
ing, the profits of most manufacturing
—I/
4.0
4.0
-.9
-2.1
-5.9
-2.9
11.8
Motor vehicles
.2.4
.4
7.(
-.4
-1.4
12.4
6.0
-2.8
Other
industries, with the exception of petroleum, have followed a similar pattern;
peaks in or near the first quarter of
1979, sharp declines in the second quarDomestic profits of financial corpora- the result of higher average interest ter of 1980, sharp increases thereafter.
The profits of petroleum manufactions declined $2 billion to $25% billion. rates on its holdings of Federal debt,
turers peaked in the first quarter of
The decline was more than accounted especially short-term debt.
Profits from the rest of the world— 1980 and declined throughout 1980. Defor by a swing from profits to losses for
savings and loan associations; exclud- measured as the net inflow of dividends clining demand for petroleum products
ing interest credited to accounts, they and reinvested earnings of incorporated made it increasingly difficult for refinsuffered net deposit withdrawals. Earn- affiliates, and earnings of unincorpo- ers to pass on to the product prices
ings of Federal Reserve banks, which rated affiliates—declined $2% billion to higher costs of crude oil, and the resultare treated as part of corporate business $25% billion in the first quarter. The de- ing squeeze on margins has depressed
in the national income and product ac- cline reflected weakness in many foreign profits.
counts (NIPA's), increased sharply as economies.
(Continued on page 72)
Table 4.—Corporate Profits With Inventory Valuation Adjustment and Without Capital
Consumption Adjustment

Reconciliation and Other Special Tables
Table 1.—Relation of Net Exports of Goods and Services in the National Income and Product Account (NIPA's) to Balance on Goods and Services in the Balance of Payments
Accounts (BPA's)
[Billions of dollars, seasonally adjusted at annual rates]

1980

Line




I

1981

II

III

IV

I

343 1
4.0
.8
.7
1
337.3

334 5
49
-11.1
7.0
3
333.3

346 6
22
1.1
.2
7
342.4

354 5
49
1.0
1.6
10
346.1

376 6
55
1.2
2.2
4
367.4

7
8
9
10
11
12
13
14

Imports of goods and services, BPA's
343 9
Less: Payments of income on U.S. Government liabilities
12 2
Gold, BPA's
7.5
Capital gains net of losses
in direct in vestment income payments. . . -.4
J
Statistical differences
—1 8
Other items
_. _ _
Plus: Gold, NIPA's_
2.7
Equals: Imports of goods and services, NTPA's
329 1

331 3
11 7
4.8
1.1
— 9

320 7
12 0
6.6
5.6
3

339 6
14.1
34
.4
8

358 2
15.8
3.8
.1
.8

1.6
316 2

1.6
297 9

1.8
322 7

.4
338 2

15
16
17
18
19
20
21

Balance on goods and services, BPA's (1-7)
Less: Gold (2-9+13)
Capital gains net of losses in direct investment income (3-10)
Statistical differences (4-11)
_
Other items (5-12)
Plus: Payments of income on U.S. Government liabilities (8)
Equals: Net exports of goods and services, NIPA's (6-14)

3.1
1.7
-12.2
7.9
.3
11.7
17.1

25 9
-2.8
—4.5
—.1
.7
12.0
44.5

14 9
3.3
.6
.9
1.0
14.1
23.3

18.4
2.1
1.1
1.4
.4
15.8
29.2

1 Exports of goods and services. BPA's
2 Less: Gold, BPA's
3
4
5
6

, ..

Capital gains net of losses
in direct investment income receipts
Statistical differences J
Other items
Equals: Exports of goods and services, NIPA's

—.9
—.7
1.2
2.5
.1
12.2
8.2

1. Consists of statistical revisions in the BPA's that have not yet been incorporated in the NIPA's.

SUEVEY OF CUEKENT BUSINESS

8

June 1981

National Income and Product Accounts Tables
The tables that follow are presented in eight groups, and the table numbers reflect these groups. The table numbers will also be used
in future publications presenting national income and product account estimates. The groups are:
1.
2.
3.
4.

5.
6.
7.
8.

National product and income
Personal income and outlays
Government receipts and expenditures
Foreign transactions

Saving and investment
Product and income by industry
Implicit price deflators and price indexes
Supplementary table: Percent change from
preceding period for selected items

The abbreviations used in the tables are:
CCAdj Capital consumption adjustment
IVA
Inventory valuation adjustment
NIPA's National income and product accounts
p
Preliminary
r
Revised

1980

1979
1979

1980

I

IV

II

1981
III

IV

I'

1979
1979

1980

1980

I

IV

Seasonally adjusted at annual rates

1981

II

III

IV

I'

Seasonally adjusted at annual rates

Billions of dollars

Billions of 1972 dollars

Table 1.1-1.2.—Gross National Product in Current and Constant Dollars
2,413.9 2, 626. 1 2, 4%. 3 2,571.7 2,564.8 2, 637.3 2,730.6 2, 853. 0 1,483.0 1,480.7 1,490.6 1,501.9 1,463.3 1,471.9 1 485 6 1 516.4

Gross national product
Personal consumption expenditures

. . . . 1,510.9 1,672.8 1,582.3 1,631.0 1,626.8 1,682.2 1, 751. 0 1, 810. 1
212.3
602.2
696.3

Durable goods
Nondurable goods
Services .
..
Gross private domestic investment
Fixed investment
Nonresidential
Structures
Producers' durable equipment
Residential
Nonfann structures
Farm structures
- _ .,
Producers' durable equipment
Change in business inventories
Nonfann
Farm Net exports of goods And services
Exports
Imports

_

—

_

—

Government purchases of goods and services
Federal
National defense
Npndefense
State and local

- -

211.9
675.7
785.2

216.1
639.2
727.0

220.9
661.1
749.0

194.4
664.0
768.4

208.8
674.2
799.2

223.3
703.5
824.2

930.9

935.1

941.6

943.4

919.3

930.8

946 8

960 2

238.3
726.0
845.8

146.6
354.6
429.6

135.8
358.4
440.9

146.0
361.3
434.3

145 4
361.5
436.5

126 2
356 6
436.5

132 6
354 9
443.3

139 1
360 4
447 3

146 8
364 5
448 9

415.8

395.3

410.0

415.6

390.9

377.1

397.7

437. 1

232.6

203.6

221.5

218.3

200.5

195.3

200.5

211.6

398.3
279.7
96.3
183.4
118.6
113.9
1.8
2.9
17.5
13.4
4.1

401.2
296 0
108.8
187.1
105.3
100.3
2.0
3.0
—5.9
-4.7
—1.2

410.8
290 2
105.1
185.1
120.6
115.4
2.3
3.0
—.8
-4.4
3.6

413.1
297.8
108.2
189.7
115.2
110.1
2.2
3.0
2.5
1.5
1.0

383.5
289 8
108.4
181.4
93.6
88.9
1.8
2.9
7.4
6.1
1.3

393.2
294.0
107.3
186.8
99.2
94.5
1.7
3.0
-16.0
-12.3
—3.7

415.1
302.1
111. 5
190.7
113.0
107.6
2.2
3.1
—17.4
-14.0
—3.4

432.7
315.9
117.2
198.7
116.7
111.4
2.2
3.2
4.5
6.8
—2.4

222.5
163.3
48.5
114.8
59.1
56.2
.9
2.0
10.2
7.8
2.4

206.6
158.4
48.4
110.0
48.1
45.2
.9
2.0
—2.9
-2.4
—.5

222.2
164.1
50.7
113.5
58.1
54.9
1.1
2.1
—.7
-2.7
2.0

219.2
165.0
50.5
114.5
54.2
51.2
1.0
2.1
—.9
-1.4
.5

199.2
156 1
48.7
107.4
43 1
40.3
.8
2.0
1.3
.6
.7

200.2
155. 5
46.8
108.8
44 7
41.9
.7
2.0
—5 0
-3.1
-1.8

207.6
157 0
47 8
109.3
50 6
47 5
10
2.0
—7 2
-5.6
—1.5

213 1
162 0
49 6
112.4
51 0
48 0
.9
2.1
—1 4
-.3
-1.1

13.4

23.3

7.6

8.2

17.1

44.5

23.3

29.2

37.7

52.0

42.2

50.1

51.7

57.6

48 5

50.9

281.3
267.9

339.8
316.5

306.3
298.7

337.3
329.1

333.3
216.2

342.4
297.9

346.1
322.7

367.4
338.2

146.9
109.2

161.1
109.1

154.8
112.6

165.9
115.8

160.5
108.9

160.5
102.8

157.4
108.9

162.5
111.6

473.8

534.7

496.4

516.8

530.0

533.5

558.6

576.5

281.8

290.0

285.3

2S0.1

291.9

288.2

289.8

293.6

167.9
111.2
56.7
305.9

198.9
131. 7
67.2
335.8

178.1
118.7
59.4
318.3

190.0
125.0
64.9
326.8

198. 7
128.7
70.0
331.3

194.9
131.4
63.5
338.6

212.0
141.6
70.4
346.6

221.6
145.2
76.4
354.9

101.7
67.1
34.6
180.1

108.1
70.9
37.2
180.9

103. 1
68.3
34.8
182.2

107.6
69.9
37.7
182.5

110.7
70.9
39.7
181.2

106.9
70.9
35.9
181.3

107.4
71.9
35.4
182.4

111.2
72.1
39.0
182. 5

2,413.9 2,626.1 2,496.3 2,571.7 2,564.8 2,637.3 2,730.6 2,853.0 1,483.0 1,480.7 1,490.6 1,501.9 1,463.3 1,471.9 1, 485. 6

1, 516. 4

2, 396. 4 2, 632. 0 2, 497. 1 2, 569. 1 2, 557. 4 2,653.4 2,748.0 2, 848. 5 1, 472. 9 1, 483. 6 1, 491. 3 1, 502. 8 1, 462. 0 1, 476. 9 1, 492. 7
10.2
2.5
4.5
—.7
7.4 —16. 0 —17.4
-2.9
17.5
—.9
1.3
—5.0
—7.2
—5.9
—.8

1, 517. 8
-1.4

Table 1.3^1.4.—-Gross National Product by Major Type of Product in Current and Constant Dollars
Gross national product
Final sales
Change in business inventories
-

1,055.9 1,130.4 1,078.3 1,116.9 1,106.4 1,129.4 1,169.0 1, 247. 5

674.5

665.2

673.3

682.1

658.1

657.5

662.9

688.9

Final sales
Change in business inventories

1,038.5 1, 136. 3 1, 079. 1 1, 114. 4 1, 099. 0 1, 145. 4 1, 186. 3 1, 243. 1
g
17.4
4.5
25
—5 9
7 4 —16.0
17 5

664.3
10.2

668.1
—2.9

674.0
—.7

683.0
—.9

656.8
13

662.4
—5 0

670.1
—7 2

690.3
—1.4

296.9
290.2
6.7
377.5
374.1
3.5

279.4
281.3
-1.9
385.7
386.8
-1.1

289.6
289.9
-.3
383.7
384.1
-.4

290.6
295.2
-4.6
391.4
387.7
3.7

270.8
270.1
.7
387.3
386.7
.6

274.6
278.4
-3.8
382.9
384.0
-1.1

281.8
281.5
.3
381.1
388.6
-7.5

289.3
292.5
-3.1
399.6
397.9
1.7

678.0
130.6

695.7
119.8

684.9
132.4

690.7
129.1

690.6
114.6

699.9
114.5

701.7
121.0

703.6
123.9

- _ 2,400.5 2,602.8 2,488.7 2,563.5 2,547.7 2,592.8 2,707.3 2,823.8 1,445.3 1,428.7 1,448.4 1,451.8 1,411.6 1, 414. 3 1,437.1
2,383.0 2,608.7 2,489.5 2,560.9 2,540.3 2,608.8 2,724.6 2,819.3 1,435.1 1,431.7 1, 449. 1 1,452.7 1,410.4 1,419.2 1,444.2

1,465.5
1,466.9

Goods

Durable goods
- Final sales
- Change in business inventories
Nondurable goods
Final sales
—
Change in business inventories
Services
Structures
Addenda:
Gross domestic purchases *
Final sales to domestic purchasers 1

-

451.2
439.7
11.5
604.7
598.8
6.0

458.6
462.6
-4.0
671.9
673.7
-1.8

448.1
448.4
-.4
630.3
630.7
-.5

456.4
468.2
-11.8
660.5
646.2
14.3

444.6
441.3
3.3
661.8
657.7
4.1

456.5
464.9
-8.4
672.9
680.5
-7.7

476.7
476.0
.7
692.2
710.3
-18.1

501.4
505.5
-4.2
74G.1
737.5
8.6

1,097.2 1,229.6 1,142.8 1,178.6 1,205.6 1,249.0 1,285.3 1, 317. 1
276.4
288.4
258.9
260.8
252.8
266.0
275.1
276.2

1. Gross domestic purchases equals GNP less exports plus imports; final sales to domestic purchasers equals final sales less exports plus imports.




SURVEY OF CURRENT BUSINESS

June 1981

Table 1.5-1.6.—Gross National Product by Sector in Current and Constant Dollars
1979
IV

1980

1979

1980

I

II

1981

IV

III

I'

1980

1979
1979

1980

IV

I

Seasonally adjusted at annual rates

GroM rational product

1980

Billions of 1972 dollars
1,471.9 1,485.6

1,516.4

2,370.1
2,046.3
1, 974. 1
1,786.0
188.1
70.0
2.2
75.7
6.4
69.3
248.1
75.8
172.3
43.8

1,435.5
1,235.2
1,198.5
1,066.8
131. 7
37.8
-1.1
44.9
3.5
41.5
155.4
49.4
105.9
27.8

1,443.4 1,458.9
1,242.3 1,257.5
1,207.6 1,227.9
1,074.6 1,093.7
133.0 134.2
33.1
33.2
1.7 -3.6
45.6
46.1
3.4
3.4
42.1
42.7
155.5 155.3
49.4
48.9
106.1 106.3
28.5
26.7

1,488.4
1,286.4
1, 250. 9
1, 115. 4
135.5
33.6
1.8
46.7
3.4
43.2
155.3
49.0
106.4
28.0

1,858.2 2,008.4 1, 916. 6 1, 974. 1 1,957.3 2,014.0 2,088.0 2, 191. 0 1,131.0 1,119.5 1,134.4 1,141.6 1,103.5

1,109.4 1,123.3

1, 150. 8

2,576.5
2,221.2
2,153.7
1,940.9
212.8
68.1
-.7
85.9
6.7
79.2
269.3
81.9
187.4
49.7

IV

2,449.7
2,113.9
2,043.6
1, 846. 3
197.3
71.0
-.7
79.4
6.6
72.8
256.4
79. C
177.3
46.6

2,520.2
2,176.9
2, 106. 4
1,903.6
202.8
67.7
2.8
82.1
6.6
75.5
261.2
79.6
181.6
51.5

1980
I

II

in

2,516.7
2,166.4
2, 100. 8
1,891.7
209.1
67.5
— 1.9
84.4
6.7
77.7
265.9
80.5
185.4
48.1

2,586.9
2,230.0
2, 159. 1
1, 943. 1
216.0
67.9
3.0
86.9
6.7
80.2
269.9
80.7
189.3
50.5

2,682.0
2, 311. 4
2,248.6
2,025.3
223.3
69.4
-6.6
90.4
6.9
83.5
280.3
87.1
193.3
48.6

2,800.7
2,420.8
2,350.1
2,120.2
229.9
67.3
3.4
93.9
7.0
86.9
285.9
87.9
198.0
52.3

1,455.9
1,258.3
1, 222. 1
1,094.8
127.3
34.9
1.4
43.7
3.5
40.2
153.9
49.0
104.9
27.2

1,452.4
1,251.8
1,216.8
1,084.5
132.3
35.3
-.4
45.4
3.5
41.9
155.2
49.2
106.0
28.3

1,462.4
1,263.6
1,228.2
1,099.1
129.1
35.8
-.4
44.4
3.6
40.8
154.5
48.9
105.6
28.1

1981
IV

1,47,1.5
1,271.9
1,233.3
1, 103. 0
130.3
37.0
1.6
44.8
3.5
41.3
154.8
49.0
105.8
30.4

1979
1979

I"

1980

I

IV

1981

1980

n

in

IV

I'

Seasonally adjusted at annual rates

Seasonally adjusted at annual rates

Billions of dollars

Billions of dollars

Table 1.7.—Relation of Gross National Product, Net National
Product) National Income, and Personal Income
Gross national product
._ 2,413.9 2,626.1 2,496.3 2,571.7 2,564.8 2,637.3 2,730.6 2,853.0
Less: Capital
consumption
allowances
with
CCAdj
253.6 287.3 265.1 274.6 283.7 291.8 298.9 306.5
Capital consumption
allowances
199.2 224.1 208.1 215.6 220.3 226.9 233.7 240.9
Less* CCAdj
-54.5 -63.1
-65.6
-57.0
59 0
63 4
64 9 -65.2
Equals: Net national product. .2,160.3 2,338.9 2,231.2 2,297.1 2,281.1 2,345.5 2,431.7 2,546.4
Less: Indirect business tax
and nontax liability... 188.4 212.3 193.5 198.9 206.3 215.8 228.0 245.5
Business transfer pay10.5
11.2
ments 10.9
9.4
9.8
10.1
10.6
10.3
3.4
Statistical discrepancy
2.2
-.7
2.8 -1.9
-.7
3.0 -6.6
Plus: Subsidies less current
surplus of government
5.4
enterprises
4.6
4.7
3.1
2.7
3.1
6.3
3.7
Equals: National income..
1,963.3 2,121.4 2,031.3 2,088.5 2,070.0 2,122.4 2,204.8 2,291.1
Less: Corporate profits with
IVA and CCAdj
196.8 182.7 189.4 200.2 169.3 177.9 183.3 203.0
193.3 200.8
Net interest
_
143.4 179.8 156.5 165.4 175.3 185.3
Contributions for social
insurance
187.1 203.7 192.2 198.8 199.5 204.1 212.3 233.7
Wage accruals less dis0
0
-.5
bursements
-.2
0
-.2
.2
.5
Plus: Government
transfer
payments to persons
239.9 283.8 253.3 261.6 270. 3 300.1 303.1 308.4
Personal interest income. 209.6 256.3 225.7 239.9 253.6 261.8 269.7 288.7
Personal dividend in54.4
56.1
58.0
48.6
come
50.1
52.4
54.2
55.1
Business transfer pay11.2
ments
10.5
10.9
9.8
9.4
10.1
10.3
10.6
Equals: Personal income
.. 1,943.8 1 2, 160. 2 2,032.0 2,088.2 2,114.5 2,182.1 2,256.2 2,319.8
Billions of 1972 dollars

Table 1.8.—Relation of Gross National Product, Net National
Product, and National Income in Constant Dollars
Gross national product
1,483.0 1,480.7 1,490.6 1,501.9 1,463.3 1,471.9 1.485.6 1,516.4
Less: Capital consumption allowances with CCAdj. 141.6 147.5 144.1 145.9 146.6 147.9 149.5 151.2
Equals: Net national product.. 1,341.4 1,333.2 1,346.5 1,356.0 1,316.6 1,324.0 1,336.1 1,365.2
Less: Indirect business tax
and nontax liability
plus business transfer
payments less subsidies plus current surplus of government
153.2
enterprises
. 143.5 149.0 145.7 147.5 147.2 149.2 151.9
-3.6
-.4
Statistical discrepancy
1.8
1.4
1.6 -1.1
Equals: National income .
1,196.5 1,184.6 1.30L2 1,206.9 1,170.6 1,173! 11,187.8 1,210.3




I'

2,413.9 2,626.1 2,496.3 2,571.7 2,564.8 2,637.3 2,730.6 2,853.0 1,483.0 1,480.7 1,490.6 1,501.9 1,463.3

1979
1979

IV

III

Seasonally adjusted at annual rates

Billions of dollars

Gross domestic product,- - r- ...... ...^
,T
Business
Nonfann
Nonfann less housing
.
Housing. .
Farm
Statistical discrepancy —
- - .
Households and institutions .
Private households.-Nonprofit institutions
Government _
.....
Federal
State and local
Rest of the world
Addendum:
Gross domestic business product less housing. ._

II

1981

Table 1.11.—-National Income by Type of Income
National income

1,963.3 2,121.4 2,031.3 2,088.5 2,070.0 2,122.4 2,204.8 2,291.1

Compensation of employees. _ . 1,460.9 1,596.5 1,518.1 1,558.0 1,569.0 1,597.4 1,661.8 1,722.4
1,235.9 1,343.6 1,282.4 1,314.5 1,320.4 1,342.3 1,397.3 1,442.9
Wages and salaries
Government and govern235.9 253.6 243.3 246.7 250.5 253.9 263.3 267.1
ment enterprises
1,000.0 1,090.0 1,039.1 1,067.9 1,069.9 1,088.4 1,134.0 1,175.7
Other
Supplements to wages and
225.0 252.9 235.7 243.5 248.6 255.0 264.5 279.5
salaries
Employer contributions
106.4 115.8
113.6
116.0 121.0 131.5
109.8 112.6
for social insurance
137.1 126.0 130.9 135.1 139.1 143.5 148.0
118.6
Other labor income
Proprietors' income with IVA
131.6 130.6 136.3
133.7 124.9 129.7 134.0 132.1
and CCAdj

Farm.
Proprietors' income with
IVA
CCAdj
Nonfann
Proprietors' income
IVA
CCAdj
Rental income of persons with
CCAdj
Rental income of persons
CCAdj
Corporate profits with IVA
and CCAdj
Corporate profits with IVA.

30.8

23.4

29.5

25.7

23.3

22.1

22.5

18.9

36.6
-5.8

30.3
-6.9

35.7
-6.2

32.3
-6.5

30.2
-6.9

29.0
-6.9

29.6
-7.2

26.1
-7.2

100.7
105.2
-3.4
-1.0

107.2
112.7
-3.7
-1.9

106.8
112.2
-4.0
-1.5

107.9
114.8
-5.3
-1.6

101.6
105.5
-2.0
-1.9

107.6
113.1
-3.5
-2.0

111.6
117.5
-4.0
-2.0

113.2
117.5
-2.5
-1.9

30.5

31.8

31.0

31.2

31.5

32.0

58.9
64.9
61.4
-28.3
-33.1
-30.4
196.8

182.7

212.7

199.8

32.4

32.7

68.2
66.4
62.9
64.5
65.9
-33.9 -35.5
-31.6
-33.0 -33.9

189.4

200.2

204.5

215.6

169.3
186.9

177.9

183.3

203.0

195.9

201.0

219.9

255.4 245.5 255.4 277.1 217.9 237.6 249.5 259. 1
Profits before tax
94.2
85.2
87.6
87.2
71.5
78.5
82.3
Profits tax liability
91.1
167.8 163.2 168.2 182.9 146.5 159.1 164.3 168.0
Profits after tax
50.2
57.7
5fi.O
51.6
53.9
55.7
56.7
Dividends
59.6
Undistributed profits. 117.6 107.2 116.6 128.9 90.7 102.4 106.6 108.4
-48.4
-42.6 -45.7 -50.8
-61.4
-31.1 -41.7
-39.2
IVA

CCAdj

-15.9

-17.2

-15.1 -15.4

-17.6

-17.9 -17.8
193.3

-16.9

Net interest

143.4

179.8

156.5

165.4

175.3

185.3

Addenda:
Corporate profits after tax
with IVA and CCAdj...
Dividends
Undistributed profits with
IVA and CCAdj

109.2
50.2

100.3
56.0

102.2
51.6

106.0
53.9

97.8
55.7

99.5
56.7

98.1
57.7

111.9
59.6

59.1

44.3

50.6

52.1

42.1

42.8

40.4

52.3

200.8

SURVEY OF CURRENT BUSINESS

10

June 1981

Table 1.13.—Gross Domestic Product of Corporate Business in Current Dollars and Gross Domestic Product of Nonfinancial
Corporate Business in Current and Constant Dollars
1979
1979

1980

1981

1980

IV

I

in

II

1979

I

IV

1979

1980

IV

Billions of dollars

Net domestic product

175.4

161.5

167.1

173.0

178.4

183.2

187.5

1,339.5 1,441.1 1,378.3 1,416.9 1,403.7 1,439.0 1,504.8 1, 587. 3

Indirect business tax and
nontax liability plus business transfer payments
less subsidies

139.6

159.3

148.1

143.5

154.4

162.4

172.5

187.2

Domestic income
1,199.8 1,281.8 1,234.8 1,268.9 1,249.3 1,276.6 1,332.4 1,400.1
Compensation of employ1,011.5 1, 103. 11,051.4 1,079.9 1,083.0 1,101.7 1,147.8 1, 193. 3
845.9 917.9 877.8 901.1 900.8 915.2 954.6 £89. 1
Supplements to wages
and salaries
165.6 185.2 173.6 178.8 182.2 186.4 193.2 204.1
Corporate profits with
166.5 151.5 157.7 163.6 140.0 147.0 155.6 177.6
IVAandCCAdj

77.9

81.3

82.0

80.4

82.0

79.7

83.3

84.7

Grow domestic product
of non financial corpo1,417.0 1,535.2 1,457.7 1,502.1 1,496.3 1,537.7 1,604.7 1,690.1
rate business
Capital consumption allowances with CCAdj

147.5

165.9

152.9

158.2

163.6

168.6

173.0

177.1

Profits before tax
Profits tax liability
Profits after tax.
Dividends
Undistributed profits
IVA
CCAdj
Net interest

1980

IV

I

II

193.4
69.7
123.7
37.3

183.8 191.1 207.2
63.1 68.4
74.3
120.6 122.7 132.9
40.4 38.2 36.9

177.9
60.3
117.6
40.8

158.6
52.0
106.6
41.1

191.3
05.9
125.4
42.7

205.0
71.5
133.5
46.9

86.3 80.3 84.5 96.0 65.5 76.8 82.7 86.6
-42.6 -45.7 -50.8 61 4 -31.1 -41.7 -48.4 -39.2
-14.1 -14.4 -13.0 -13.1 -14.9 -15.0 -14.7 -13.6
45.2 56.1 49.1 52.3 54.4 57.6 59.9 60.5
Billions of 1972 dollars

Gross domestic product
of nonfinancial corporate business.

873.3

867.2

873.4

878.2

853.2

860.4

876.9

901.0

Capital consumption allowances with CCAdj

84.6

88.1

86.1

87.1

87.6

88.5

89.4

90.4

788.7

779.0

787.3

791.2

765.7

771.9

787.5

810.6

92.7
696.0

95.4
683.6

93.9
693.5

94.9
696.2

94.1 95.3
671.6 676.5

97.2
690.3

97.5
713.1

Net domestic product
Indirect business tax and
nontax liability plus business transfer payments
less subsidies
Domestic income
- —

1981

1980

1979

1979

I'

III | IV

Net domestic product
1,269.5 1,369.3 1,304.8 1,343.9 1,332.7 1,369.1 1,431.7 1,513.1
Indirect business tax and
nontax liability plus business transfer payments
less subsidies
133.6 152.5 137.3 141.7 147.7 155.4 165.1 179.2
Domestic income
1,135.9 1, 216. 9 1,167.5 1,202.3 1,185.0 1,213.6 1,266.6 1,333.9
Compensation of employees
954.0 1,037.2 991.1 1,017.3 1,018.0 1,034.8 1,078.5 1,121.3
Wages and salaries
798.9 864.2 828.4 849.9 847.9 860.9 898.2 930.7
Supplements to wages
and salaries
155.2 172.9 162.7 167.4 170.1 173.9 180.4 190.5
Corporate profits with
IVAandCCAdj
136.7 123.6 127.3 132.6 112.5 121.2 128.2 152.1

225.0 214.4 223.7 240.4 188.6 206.7 221.8 233.7
Profits before tax
91.1
Profits tax liability
87.6 82.3 87.2 94.2 71.5 78.5 85.2
137.4 132.0 136.5 146.2 117.1 128.2 136.6 142.5
Profits after tax
43.7
39.5
Dividends
34.9 37.4 35.3 34.3 37.9 37.9
97.1 98.8
Undistributed profits. 102.5 94.6 101.2 112.0
79.3 90.3
IVA
-42.6 -45.7 -50.8 -61.4 -31.1 -41.7 -48.4 -39.2
-15.9 -17.2 -15.1 -15.4 -17.6 -17.9 -17.8 -16.9
CCAdJ
25.6 25.3 26.3 27.9 29.0 29.3
21.9 27.2
Net interest
Grow domestic product
of financial corporate
business

II

Billions of dollars

Groas domestic product
of corporate business. . 1,494.9 1,616.5 1,539.8 1,584.0 1,576.7 1,617.5 1,688.0 1,774.8

155.4

I

1981

Seasonally adjusted at annual rates

Seasonally adjusted at annual rates

Capital consumption allowances with C C Adj

1980

III

IV

Ir

1979
1979

1980

1980

I

IV

1981

II

III

IV

If

Seasonally adjusted at annual rates

Seasonally adjusted at annual rates
Billions of dollars

Billions of 1972 dollars

Table 1.14-1.15.—Auto Output in Current and Constant Dollars
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
- -Change in business inventories

New

Used

-

-

Addenda:
Domestic output of new autos
*
Sales of imported new autos a

68.0

60.2

61.8

64.4

53.6

54.3

68.8

68.1

46.8

38.6

41.4

42.5

34.6

34.6

42.8

42.

69.2
65.3
49.4
15.9
13.2
22.2
—9.1
—10 1
4.7
14.8
.8
—1.2
—1.0
-.2

62.2
61.8
46.2
15.6
12.4
21.2
—8.8
—12 9
4.0
16.8
.8
-1.9
—1.3
-.6

65.7
64.2
48.5
15.7
11.2
19.5
—8.3
—10 5
4.9
15.4
.8
—3.9
—3.3
-.6

73.8
71.6
54.8
16.9
12.9
22.2
—9.4
11 5
4.8
16.3
.8
-9.5
—8.3
-1.2

51.5
50.7
36.8
13.9
11.0
18.3
—7.3
—10 9
3.9
14.8
.8
2.0
3.4
-1.4

57.8
58.7
44.3
14.4
13.3
21.9
—8.7
15 1
3.4
18.4
.8
-3.5
—3.8
.4

65.5
66.1
48.8
17.3
12.5
22.4
—9.9
—13 9
3.9
17.8
.8
3.2
3.5
-.3

77.9
75.6
57.4
18.2
13.7.
24.7
—11.0
12 2
4.1
16.3
.8
—9.8
10.8
1.0

47.3
41.3
33.1
8.2
9.9
14.9
—5.0
—4 4
3.1
7.6
.6
— .5
—.4
-.1

39.9
36.5
28.6
7.8
8.5
13.2
—4.7
—5. 5
2.4
8.0
.5
-1.3
—.9
-.3

44.1
39.9
31.8
8.1
8.2
12.8
—4.6
—4 5
3.2
7.7
.5
-2.7
-2.4
-.3

48.3
43.7
35.0
8.7
9.1
14.2
—5.1
5.0
3.1
8.1
.5
-5.8
5.2
-.6

33.5
30.4
22.9
7.5
7.3
11.4
—4.1
46
2.4
7.1
.5
1.0
1.8
-.8

36.8
34.3
26.9
7.4
8.6
13.4
—4.8
—6 6
1.8
8.4
.5
-2.2
-2.4
.2

40.9
37.5
29.7
7.8
8.9
13.6
—4.7
—6 0
2.4
8.3
.5
1.9
2.1
-.1

48.
42.
35.
7.
9.
15.
—5.

57.8
19.4

48.8
21.7

50.1
19.8

51.6
24.3

43.0
18.2

45.3
21.2

55.4
23.2

52.2
26.3

38.7
12.9

30.2
13.5

32.8
13.0

33.0
15.6

26.8
11.4

27.3
12.9

33.7
14.1

31.
16.

Table 1.16-1.17.—Truck Output in Current and Constant Dollars
Truck output
Final sales.
Personal consumption expenditures
Producers' durable equipment
Net exports.
Exports
Imports
Government purchases..
Change in business inventories..
Table 1.14-1.15:

37.8

25.7

32.6

28.0

23.8

23.2

27.7

27.0

22.3

13.8

19.0

15.7

12.8

12.2

14.3

37.7
11.4
23.7
-.4
3.3
3.8
3.0

27.8
7.9
17.6
-1.1
3.1
4.1
3.3

36.4
11.4
22.0
-.1
3.5
3.7
3.1

30.9
9.1
19.4
-.8
3.0
3.7
3.2

26.1
7.3
16.1
-.7
2.9
3.5
3.3

27.5

26.8
7.5
16.8
-1.0
3.3
4.3
3.5

27.6
7.8
16.9
-.7
3.6
4.3
3.6

22.3
7.6
13.3
-.4
1.9
2.3
1.7

14.9
4.9
9.1
-.8
1.6
2.3
1.7

21.0
7.5
12.1
-.3
2.0
2.2
1.7

17.3
5.8
10.4
-.6
1.6
2.2
1.7

14.1
4.5
8.4
-.6
1.5
2.1
1.7

14.5
4.8
9.1
-1.2
1.6
2.8
1.7

13.7
4.5

.1

-2.1

-3.8

-2.9

-2.2


1. Consists of final sales and change in business inventories of new autos produced in the
United States.
http://fraser.stlouisfed.org/
2. Consists of personal consumption expenditures, producers' durable equipment, and
Federal Reserve
Bank Durchases,
of St. Louis
government

7.9
18.0
-1.9
3.1
5.0
3.4
-4.3

.9

.1

Table 1.16-1.17:
I. Includes new trucks only.

-1.2

-2.1

-1.6

-1.3

-2.2

8.2
-.7
1.6
2.3
1.7

2.
7.
-5.
-6.

SURVEY OF CURRENT BUSINESS

June 1981

1979
1979

1980

1980
I

IV

II

11

1981
III

IV

1979

I'

1980

1979

Seasonally adjusted at annual rates

Personal income.

,943.8 ,160.2 ,032.0 ,088.2 2,114.5 2,182.1 2,256.2 2,319.8
,236.1 ,343.7 ,282.2 ,314.7 ,320.4 ,341.8 ,397.8 1,442.9
461.7
347.9
322.6
283.6

456.0
343.2
323.2
290.8

460.1
346.7
329.2
298.7

484.0
364.0
340.6
310.0

501.3
377.4
351.9
322.5
267.1

236.1

253.6

243.1

246.8

250.5

253.9

263.3

Other labor income

118.6

137.1

126.0

130.9

135.1

139.1

143.5

148.0

Proprietors' income with IVA
and CCAdj

131.6

130.6

136.3

133.7

124.9

129.7

134.0

132.1

30.8
100.7

23.4
107.2

29.5
106.8

25.7
107.9

23.3
101.6

22.1
107.6

22.5
111.6

18.9
113.2

30.5

31.8

31.0

31.2

31.5

32.0

32.4

32.7

Farm
Nonfarm
Rental income
with CCAdj

-

Personal dividend income

48.6

54.4

50.1

52.4

54.2

55.1

56.1

58.0

Personal interest income

209.6

256.3

225.7

239.9

253.6

261.8

269.7

288.7

Transfer payments

249.4

294.2

263.1

271.7

280.7

310.7

313.9

319.6

153.8

139.3

142.0

144.7

163.2

165.3

169.8

16.0
15.0

10. b
14.6

11.4
14.8

16.0
14.6

19.0
14.9

17.5
15.5

15.6
15.9

Old-age, survivors, disability, and health insurance benefits .
131.8
Government unemployment insurance benefits...
9.8
Veterans benefits
14.4
Government
employees
retirement benefits
37.0
Other transfer payments.. . 56.4
Aid to families with dependent children
11.0
Other
45.4
Less: Personal contributions
for social insurance
Less: Personal tax and nontax
payments

80.6

302.0

42.8
66.7

39.2
59.3

40.2
63.3

42.3
63.0

43.1
70.5

45.7
69.9

46.7
71.7

12.4
54.3

11.5
47.8

11.7
51.6

12.0
51.0

12.8
57.7

13.1
56.8

13.3
58.3

87.9

82.4

86.2

85.9

88.1

91.2

102.3

338.5

321.8

323.1

330.3

341.5

359.2

372.0

1,555.5 1,720.4 1,629.4 1,678.7 1,674.1 1,729.2 1,799.4 1,858.9

Personal consumption expenditures
1,510.9 1,672.8 1,582.3 1,631.0 1,626.8 1,682.2 1,751.0 1,810.1
Interest paid by consumers
46.8
47.8
46.0
to business
46.7
46.3
46.4
45.8
43.7
Personal transfer payments
1.6
1.0
1.0
to foreigners (net)
1.0
1.0
1.0
1.2
1.3
Equals: Personal saving

86.2

101.3

80.7

86.4

110.0

111.4

97.6

Per capita:
Current dollars.
1972 dollars

7,441
4,584

8,176
4,571

7,722
4,596

7,953
4,600

8,020
4,532

8,249
4,565

8,479
4,585

8,688
4,609

Population (millions)

220.6

222.8

221.5

221.9

222.4

223.1

223."

224.2

5.2

5.6

4.7

4.9

6.2

6.1

5.1

4.6

Table 8.14:
NOTE.—In this table interest and dividends received included in receipts; in tables 3.2 and
3.3 interest received and dividends received are netted against expenditures.




I'

Nondurable goods
Food
Clothing and shoes
Gasoline and oil
Other nondurable goods. T ...
Fuel oil and coal
Other

Housing
Household operation
Electricity and gas
Other
Transportation
Other

212.3

211.9

216.1

220.9

194.4

208.8

223.3

238.3

95.5

89.9

95.4

100.6

77.5

87.0

94.6

105.4

81.1
35.8

84.fi
37.3

83.8
37.0

83.6
36.8

81.3
35.6

84.6
37.2

88.9
39.8

92.3
40.6

602.2

675.7

639.2

661.1

664.0

674.2

703.5

726.0

312.1
98.9
68.4
122.9
16.0
106.9

345.7
104.8
89.0
136.2
19.8
116.4

329.0 336.2
102.5 102.2
77.6
89.4
130.0 133.3
18.1
18.8
111.8 114.5

338.4
102.3
90.9
132.4
19.2
113. 1

347.7
105.3
85.3
136.0
20.7
115.3

360.4
109.4
90.5
143.3
20.5
122.7

372.5
113.4
93.5
146.6
20.5
126.1

696.3

785.2

727.0

749.0

768.4

799.2

824.2

845.8

241.9
98.7
47.3
51.3
57.2
298.5

272.0 253.0
111.6 102.7
55.7 49.8
56.0 52.9
64.1 59.9
337.5 311.4

259.8
104.2
50.0
54.2
61.4
323.7

267.3
109.3
54.5
54.8
61.6
330.2

275.7
116.1
59.3
56.8
65.8
341.5

285.3
116.9
58.8
58.2
67.5
354.5

293.6
118.1
58.4
59.7
67.6
366.5

Personal consumption
expenditures
Durable goods.
Motor vehicles and parts.. .
Furniture and household
equipment..
Other
Nondurable goods
Food
Clothing and shoes
Gasoline and oil
Other nondurable goods
Fuel oil and coal
Other
Services
Housing
Household operation
Electricity and gas
Other
Transportation
Other

930.9

935.1 941.6

943.4

919.3

930.8

946.8

960.2

146.6

135.8

146.0

145.4

126.2

132.6

139.1

146.8

61.7

53.8

60.3

62.1

47.0

51.5

54.6

60.6

59.8
25.1

58.9
23.1

60.7
25.0

59.6
23.8

57.0
22.2

58.4
22.6

60.7
23.8

62.1
24.1

354.6

358.4

361.3

361.5

356.6

354.9

360.4

364.5

176.7
76.6
28.1
73.2
4.7
68.5

181.5
78.0
26.2
72.6
4.2
68.4

181.3
78.4
27.2
74.4
4.5
69.9

183.6
76.9
27.0
73.9
4.2
69.7

182.2
76.7
26.4
71.2
4.1
67.2

180,1
78.3
25.2
71.4
4.3
67.0

179.9
80.1
26.3
74.1
4.2
69.8

182.9
82.8
24.9
74.0
3.7
70.3

429.6

440.9

434.3

436.5

436.5

443.3

447.3

448.9

159.3
59.6
23.1
36.5
35.5
175.2

164.2
61.5
23.3
38.3
34.8
180.4

160.9
60.1
23.0
37.1
35.5
177.7

162.1
60.0
22.3
37.7
35.2
179.2

163.5
61.3
23.1
38.2
34.1
177.7

164.8
62.6
24.1
38.4
34.7
181.2

166.5
62.1
23.4
38.7
35.1
183.6

168.0
61.4
22.6
38.8
34.8
184.6

88.9

Addenda:
Disposable personal income
Total, billions of 1972
1,011.5 1,018.4 1,017.7 1,021.0 1,008.2 1, 018. 5 1,025.8 1,033.3
dollars

Personal wring as percentage
of
disposable
personal income

rv

Billions of 1972 dollars

Equals: Disposable personal
income
1,641.7 1,821.7 1,710.1 1,765.1 1,784.1 1,840.6 1,897.0 1,947.8
Less: Personal outlays

Motor vehicles and parts. ..
Furniture and household
equipment .
Other

Services ..

of persons

m

Personal consumption
1,510.9 1,672.8 1,582.3 1,631.0 1,626.8 1,682.2 1,751.0 1,810.1
expenditures.
Durable goods

450.4
340.4
315.0
273.7

II

Table 2.2-2.3.—Personal Consumption Expenditures by Major Type
of Product in Current and Constant Dollars

Wage and salary disbursements

465.4
350.7
328.9
295.7

I

Billions of dollars

Table 2.1.—Personal Income and Its Disposition

437.9
333.4
303.0
259.2

IV

Seasonally adjusted at annual rates

Billions of dollars

Commodity-producing industries.
Manufacturing..
Distributive industries
Service industries
Government and government enterprises ..

1981

1980

Billions of dollars

Table 3.14.— State and Local Government Social Insurance Funds
Receipts and Expenditures
Receipts
Contributions for social insurance
Personal contribution.
Employer contributions
Government and government enterprises
Other
Interest and dividends received
-Expenditures
Administrative expenses (purchases of goods and services) .
Transfer payments to persons.
Surplus or deficit (-)

40.2

45.1

42,1

42.9

43.6

46.0

47.8

49.6

28.1

31.5

29.2

29.6

30.2

32.3

33.7

34.8

7.5
20.7

7.7
23.8

7.7
21.5

7.5
22.2

7.0
23.2

8.1
24.3

8.4
25.3

8.6
26.3

18.3
2.4

21.0
2.8

19.0
2.5

19.6
2.6

20.5
2.7

21.4
2.8

22.4
2.9

23.2
3.0

12.1

13.6

12.9

13.3

13.4

13.7

14.1

14,8

16.4

18.2

17.1

17.6

17.9

18.3

18.8

19.2

.5
15. S

.6
17.6

.5
16.6

.5
17.0

.5
17.4

.6
17.8

.6
18.2

.6
18.7

23.9

26.3

25.0

25.3

25.7

27.7

29.0

30.4

12

SURVEY OF CURRENT BUSINESS
Table 3.2.—Federal Government Receipts and Expenditures
1979

1979

I

II

Table 3.3.—State and Local Government Receipts and Expenditures

1981

1980

IV

1980

III

IV

1979

520.9

540.8

573.2

620.7

231.4
225.7
5.5
.2

257.8
251.0
6.6
.2

247.1
241.0
5.9
.2

246.9
240.7
6.0
.2

252.0
245.2
6.7
.2

259.4 272.9
252.3 265.9
6.8
6.9
.2
.2

283.3
276.8
6.4
.2

Corporate profits tax accruals..

74.6

70.2

74.3

80.5

60.9

C6.7

72.6

77.9
60.6
47.8
7.7
5.0

Indirect business tax and nontax accruals
Excise taxes.
Customs duties
Nopta*es „

29.4
18.6
7.5
3.4

40.6
29.1
7.2
4.4

29.6
18.6
7.4
3.6

31.9
20.9
7.2
3.8

38.7
27.9
6.8
4.0

42,9
31.4
7.3
4.2

49.1
36.1
7.3
5.6

Contributions for social insurance
r^

159.0

172.2

163.0

169.2

169.3

171.8

178.6

198.9

509.2

602.0

538.6

564.7

587.3

615.0

641.1

664.0

190,0
125.0
64.9

198.7
128.7
70.0

194.9
131.4
63.5

212.0
141.6
70.4

221.6
145.2
76.4

Receipts

Purchases of goods and services
National defense
Nondefense

167.9
111.2
56.7

198.9
131. 7
67.2

178,1
118.7
59.4

Transfer payments
To persons..
To foreigners

209.1
204.9
4.2

249.8
244.9
4.9

221.7
216.8
4.9

228.9
224.4
4.5

236.0
232.2
3.8

265.3
260.4
4.9

269.0
262.6
6.4

271.9
267.3
4.7

Qrants-in-aid to State and
local governments . . ..

80.4

88.0

84.9

85.5

87.2

87.7

91.8

90.2

Net interest paid
Interest paid
To persons and business...
To foreigners..
Less: Interest received

42.3
53.6
42.6
11.1
11.3

53.3
67.5
55.0
12.5
14.2

44.4
56.8
45.5
11.3
12.4

50.3
63.1
50.9
12.2
12.8

54.4
68.0
56.3
11.7
13.6

53.5
68.2
56.3
11.9
14.8

55.2
70.8
56.7
14.1
15.6

67.7
84.4
68.6
15.8
16.7

9.4
9.3

12.0
10.7

9.5
9.8

10.1
10.0

11.0
10.3

13.7
10.7

13.1
11.6

12.6
11.9

.3

-.1

-.6

-3.1

0

Surplus or deficit (-),
NIPA's..
-14.8
Social insurance funds
Other

0

0

-24.5

-61.2

Ir

351.2

384.0

365.6

372.1

373.9

386.8

403.4

411.8

Personal tax and nontax receipts
Income taxes..
._
Non taxes
Other..

70.6
38.8
24.5
7.4

80.7
44.9
27.9
7.9

74.7
41.3
25.9
7.5

76.2
41.8
26.7
7.7

78.3
43.0
27.5
7.8

82.1
45.8
28.3
8.0

86.3
49.1
29.0
8.2

88.6
50.4
29.8
8.4

Corporate profits tax accruals.

13.0

12.2

12.9

13.7

10.6

11.7

12.6

13.2

Indirect business tax and nontax aeenjft's
159.0
Sales taxes..
__ 76.9
Property taxes
64.4
Other .
17.7

171. 6
82.9
67.5
21.2

163.9
79.4
65.4
19.1

167.0
80.8
66.3
19.9

167.7
79.7
67.2
20.8

173.0
83.4
67.9
21.7

179.0
87.5
68.9
22.6

184.9
91.2
70.3
23.3

34.8

Contributions for social insurance

28.1

31.5

29.2

29.6

30.2

32.3

33.7

Federal grants-in-aid

80.4

88.0

84.9

85.5

87.2

87.7

91.8

90.2

324.4

355.0

336.7

345.4

350.0

358.2

366.3

374.7

Purchases of goods and
services
305.9
Compensation of employees. 172.3
Other
_ 133.6

335.8
187.4
148.4

318.3
177.3
141.0

326.8
181.6
145.2

331.3
185.4
145.9

338.6
189.3
149.3

346.6
193.3
153.3

354.9
198.0
156.9

37.2

38.1

39.7

40.5

41.2

10 2 -10.6 -11.1 -11.4
17.2
17.7
18.0
17.4
28.8
29.5
27.4
28.0

11 8
18.6
30.4

Expenditures

Transfer payments to persons.

Less: Wage accruals less disbursements

IV

Billions of dollars

528.4

-1.3

in

II

I

Billions of dollars

514.0

-.1

IV

1980

1981

Seasonally adjusted at annual rates

540.8

Subsidies less current surplus
of government enterprisesSubsidies
Less: Current surplus of
government enterprises

1980

Seasonally adjusted at annual rates

494.4

Expenditures

1979

If

Personal tax and nontax receipts
Income taxes
Estate and gift taxes
Montages.T ,^

Receipts

June 1981

0

-36.3

0

-66.5

0

-74.2

-1.4
0

-67.9

3.2 -14.2 -2.1
.4 -7.8 -27.1 -22.2
-18.1 -47.0 -22.4 -36.7 -58.6 -47.1 -45.8

-.7
0

Net interest paid
Interest paid
Less: Interest received
Less: Dividends received

36.4
-9.7
16.9
26.6

1.6

1.5

1.6

1.6

1.6

1.6

1.6

-7.4
.4

-6.7
.3

-7.0
.3

-7.2
.3

-7.5
.4

-7.7
.4

-7.9
.4

7.7

7.0

7.3

7.6

7.8

8.1

8.3

.2

-.2

0

0

0

0

28.9

26.6

23.9

28.6

37.1

37.0

29.0
8.1

30.4
6.7

1.5

Subsidies less current surplus
of government enterprises. -6.3
Subsidies
.3
Less: Current surplus of
government enterprises
6.7
Less: Wage accruals less disbursements. ....

-.1

0

Surplus or deficit
NIPA's.

26.7

29.1

-43.3

Social insurance funds
Other..

-4.6
-38.7

38.9

-8.8 -10.8
17.6
16.3
25.1 28.4

35.0

(-),
—

23.9
2.9

26.9
2.1

25.0
4.0

25.3
1.3

27.7
.9

25.7
1.7

Table 3.7B-3.8B.—Government Purchases of Goods and Services by Type in Gurrent and Constant Dollars
1979
1979

1980

IV

1980

I

n

m

IV

I'

1979

1980

IV

I

Nondefense.. .
Durable goods
Nondurable goods
Services
Compensation of employees
Other services
Structures
State and local
Durable goods
Nondurable goods
Services _.
Compensation of employees
Other services
Structures..




._

_ _

.

III

IV

I'

Billions of 1972 dollars

Billions of dollars

Federal
National defense... _
Durable goods
_ _ _ _
Non durable goods
__ .
Services
CoTTipensation of employees
Military...
Civilian
Other services
. .
Structures

II

Seasonally adjusted at annual rates

Seasonally adjusted at annual rates

Government purchases of goods and seerices
.. . .

1981

1980

1979

1981

473.8

534.7

496.4

516.8

530.0

533.5

558.6

576.5

281.8

290.0

285.3

290.1

291.9

288.2

289.8

293.6

167.9
111.2
26.8
7.0
74.9
48.8
27.7
21.0
26.2
2.4

198.9
131.7
32.9
10.9
84.7
52.8
30.4
22.4
31.9
3.1

178.1
118.7
29.5
8.2
78.5
51.0
29.1
21.9
27.5
2.4

190.0
125.0
31.5
9.8
80.8
51.3
29.3
22.0
29.5
2.9

198.7
128.7
32.3
10.4
83.1
51.4
29.4
21.9
31.8
2.9

194.9
131.4
32.9
10.5
84.1
51.8
29.7
22.1
32.3
3.8

212.0
141.6
34.9
13.1
90.7
56.8
33.2
23.6
33.9
2.9

221.6
145.2
36.3
12.9
93.2
57.4
33.5
23.8
35.9
2.8

101.7
67.1
16.6
2.4
46.7
32.0
18.8
13.2
14.7
1.4

108.1
70.9
18.4
2.5
48.5
32.1
18.9
13.2
16.4
1.6

103.1
68.3
17.7
2.4
46.9
32.0
18.8
13.2
14.9
1.3

107.6
69.9
18.2
2.3
47.8
32.0
18.8
13.2
15.8
1.5

110.7
70.9
18.3
2.5
48.7
32.0
18.8
13.2
16.7
1.5

106.9
70.9
18.0
2.3
48.7
32.2
18.9
13.2
16.5
1.9

107.4
71.9
18.9
2.8
48.8
32.1
19.0
13.1
16.7
1.4

111.2
72.1
18.7
2.7
49.4
32.2
19.0
13.1
17.2
1.4

56.7
.6
2.0
48.1
27.0
21.0
6.0

67.2
1.5
4.1
55.1
29.1
25.9
6.6

59.4
-1.1
3.8
50.8
28.0
22.8
5.9

64.9
1.5
4.4
52.3
28.3
24.1
6.7

70.0
1.3
7.8
54.6
29.1
25.4
6.3

63.5
1.5
-1.1
56.3
28.8
27.5
6.8

70.4
1.6
5.3
57.0
30.3
26.7
6.5

76.4
2.0
9.2
57.6
30.6
27.0
7.7

34.6
.7
1.1
29.6
17.0
12.6
3.2

37.2
.9
2.0
31.1
17.1
14.0
3.2

34.8
0
1.6
30.1
16.9
13.1
3.1

37.7
1.0
2.9
30.5
17.0
13.5
3.4

39.7
.8
4.5
31.4
17.5
13.9
3.1

35.9
.9
-.1
31.9
17.2
14.6
3.2

35.4
.9
.8
30.7
16.8
13.9
3.0

39.0
1.0
4.0
30.5
16.8
13.6
3.5

305.9
9.8
23.4
232.4
172.3
60.1
40.3

335.8
10.6
26.3
253.7
187.4
66.3
45.3

318.3
10.1
24.3
239.8
177.3
62.5
44.1

326.8
10.3
25.0
245.4
181.6
63.8
46.1

331.3
10.5
25.7
250.7
185.4
65.3
44.4

338.6
10.7
26.7
256.3
189.3
67.1
44.9

346.6
10.9
27.8
262.2
193.3
69.0
45.7

354.9
11.1
28.3
268.5
198.0
70.4
47.1

180.1
6.2
13.4
140.2
104.9
35.3
20.4

181.9
6.3
13.7
141.4
106.0
35.4
20.5

182.2
6.3
13.4
141.1
105.6
35.5
21.4

182.5
6.2
13.5
141.1
105.8
35.3
21.6

181.2
6.3
13.6
141.1
105.9
35.2
20.2

181.3
6.3
13.7
141.4
106.1
35.3
20.0

182.4
6.2
14.0
142.0
106.3
35.6
20.2

182.5
6.2
14.0
141.9
106.4
35.5
20.4

SURVEY OF CUKEENT BUSINESS

June 1961

1980

1979
1979

1980

IV

I

II

13

1981

III

IV

I'

1980

1979
1979

1980

I

IV

Seasonally adjusted at annual rates

II

1981
IV

III

I'

Seasonally adjusted at annual rates

Billions of dollars

Billions of 1972 dollars

Table 4.1-4.2.—Foreign Transactions in the National Income and Product Accounts In Current and Constant Dollars
Receipts from foreigners
Exports of goods and services
Merchandise
Durable goods.- _
Nondurable goods
Services
Factor income 1 _ _
Other
Capital grants received by the United States (net).
Payments to foreigners
Imports of goods and services
Merchandise
Durable goods
Nondurable goods
Services
Factor income ' Other
Transfer payments (net) From persons (net)
From government (net)

__

Interest paid by government to foreigners
Net foreign investment .

282.5

340.9

307.4

338.5

334.4

343.5

347.2

368.5

281.3
176.9
102.9
74.1
104.4
66.6
37.8

339 8
218.2
127.7
90.5
121.6
79.5
42.1

306.3
193.9
109.4
84.6
112.4
74.5
37.9

337.3
214.8
127.0
87.8
122.5
83.0
39.5

333.3
213.9
126.3
87.6
119.4
78.1
41 3

342.4
222.9
129.9
93.0
119.5
76.3
43.2

346.1
221.0
127.5
93.6
125.0
80.7
44 3

367.4
236.3
132. 5
103.9
131.1
87.1
43.9

1.1

1.1

1.1

1.1

1.1

1.1

1.1

1.1

282.5

340.9

307.4

338.5

334.4

343.5

347.2

368.5

267.9
208.9
99.0
109.9
59 0
22.8
36.2

316.5
245.9
112.1
133.8
70.6
29.9
40.7

298.7
233.0
103.7
129.3
65 7
27.9
37.8

329.1
257.5
115.7
141.8
71 6
31.5
40.0

316.2
245.6
107.9
137.8
70 5
29.9
40.6

297.9
231.5
108. 7
122.8
66 4
25.9
40.6

322.7
248.8
116.0
132.9
73.9
32.2
41.7

338.2
259. 1
J16. 4
142.7
79.1
34.9
44.2

5.2
1.0
4.2

6.0
1.2
4.9

6.2
1.3
4.9

5.5
1.0
4.5

4.8
1.0
3.8

5.9
1.0
4.9

8.0
1.6
6.4

5.7
1.0
4.7

11.1

12.5

11.3

12.2

11.7

11.9

14.1

15.8

—1 7

5.9

—8.7

—8.3

1.7

27.8

2.3

8.8

146.9
82.8
50.5
32.3
64.1
41.3
22.8

161.1
92.2
55.6
36.6
68.9
45.4
23.5

154.8
87.6
52.3
35.3
67.2
15.0
22 3

165.9
94.1
58.1
36.0
71.8
49.0
22 8

160 5
92 1
55.9
36.2
68 4
45.1
23 3

160 5
93 5
55.7
37.8
67 0
43 1
23 9

157 4
89 0
52 5
36.4
68 4
44 4
24 1

162 5
92.4
52.9
39.5
70 1
46.7
23 4

109.2
76.9
47.2
29.7
32.3
14.1
18.1

109.1
74.0
47.6
26.4
35 1
17.0
18.1

112.6
78,0
48.0
30.0
34 7
16.8
17.8

115.8
78.8
50 3
28.5
37 0
18.6
18.4

108.9
73.4
46 8
26.6
35 5
17 3
18.2

102 8
70.5
45 8
24 6
32 4
14 6
17.8

108 9
73.4
47 5
25.8
35 5
17 7
17.8

111.6
74.5
47 7
26.8
37 1
18.7
18.4

Table 4.3-4.4.—Merchandise Exports and Imports by Type of Product and by End-Use Category in Current and Constant Dollars
Merchandise exports

176.9

218 2

222.9

221 0

236. 3

82.8

92 2

87.6

94.1

92.1

93.5

89 0

Foods, feeds, and beverages

29.8

35.9

34.8

34.2

32.1

38.4

38.8

44.9

13.4

15.3

15.2

14.9

14.5

16.4

15.2

17.1

Industrial supplies and materials
Durable goods
Nondurable goods

52.6
17.9
34.6

67.1
24.3
42 8

60.3
20.9
39.4

66.5
25.5
41.0

70.7
26.4
44.3

65.9
23.3
42.7

65.2
22.2
43 0

67.6
22.1
45 5

20.9

23.7

22.4

23.3

25 0

23 5

23 0

23 1

15.1

14 6

14 4

15 7

15 2

7.8

7.6

13.8

15 2

15 5

Capital goods, except autos

58.2

73.5

60.6

68.0

73.0

77.6

75.5

79.1

30.8

34.7

31.8

34.7

35.2

35.6

33.1

33.3

Autos

17.4

16.9

17.7

17.2

15.6

16 5

18.1

18 5

8.1

6.8

7.9

7.4

6.4

65

68

6.8

Consumer goods
Durable goods
Nondurable goods

12 6

16 5
88

13 7

15 1

16 0

16 1
80

16 6
7 9

6 7
30

83

71

93

78
34

79
36

4.4

79
34

83

7.7

6.8
6.9

18 8
11.1

4.6

3.3
5.0

Other
Durable goods..
Nondurable goods

6.3
3.2

8.3
4.2

7 3

9 7

32

35

30

3.8
1.9

4 2

16

18

-

6.2
6.5

32

193.9

214.8

213.9

7.6

7.7
7.4

8.3
7.7

6.9
3.4

10.1

7.5
3.7

8.4
4.2

34

51

37

4 2

5.1

8.1
3.7

37

8.6

4-8
48

7.1

8.6

7.8

3.7

3.8
4.5

3.2
3.9

4.9
4.5

3.0
1.5

3.5
1.8
1.8

3.1
1.6

4 4

16

22

15

Merchandise imports

208.9

245.9

233.0

257.5

245.6

248 8

259 1

76.9

74.0

78.0

Foods, feeds, and beverages ...

17.4

18.2

19.0

17.8

17.5

18.2

19 5

20 5

7.6

6.7

7.7

Industrial supplies and materials, excluding
petroleum . _
Durable goods
Nondurable goods

47.4
28.7
18 6

52.1
31.2
20 9

50.6
30.1
20.5

57.1
35.3
21 7

52.1
30.6
21 5

47.5
27.6
19 9

51.6
31.2
20 4

55 4
32.1
23 3

19.4
11.7

17.3
10.2

18.9
11.2
7 7

231.5

9.0

7.6

7.1

2.2

9.3

4.5
1.6

78.8

73.4

6.8

6.5

19 2
11.6
76

17.4
10.1
73

8.3

1.8

1.5

92 4

15

19

70.5

73.4

74.5

6 6

7.0

7.4

15.6

16.9
10.0

6 7

6.9

18.4
10.6
78

8.9

Petroleum and products

60.0

79.1

75.4

86.4

84.0

69.1

76.8

82 8

8.5

6.9

8.4

8.2

7.2

5.8

6.2

6.3

Capital goods, except autos

24.6

30 1

26 4

29.7

29 5

30 0

31 2

32 0

13.8

14.7

14 5

15.2

14 2

14.4

14.8

15 3

Autos

25.6

27 1

25.7

26.3

25 0

28.1

28 9

27 0

11.0

10.9

11.0

11.0

10 7

11 2

10.8

9.8

Consumer goods
Durable goods
Nondurable goods

30.6
18.4
12 2

34.4
21* 2
13 1

32.0
19.6
12 4

34.2
21.4
12 8

34.1
21.0
13 1

34.3
20.8
13 5

34 8
21.7
13 1

37 1
23 2
13 9

15.0

9.9
5.1

15.5
10.9
4 7

15.7
10.4

15 9
11.1
4 8

15.2
10.5

4.7

15.2
10.7
45

15.7
11.2

5.3

15.8
11.2
4 6

3.5
1.8
1.8

4.9
2.5
2.5

4.0
2.0
2.0

6.1
3.0
3.0

3.5
1.7
1.7

4.2

4.3

2.1

6.0
3.0
3.0

2.1

21

1.6
.8
.8

2.0
1.0
1.0

1.7
.9
.9

2.5
1.3
1.3

1.4
.7
.7

1.7
.8
.8

2.4
1.2
1.2

1.7
.8
.8

35.4
141.5
148.9

42.3
175.9
166.8

41.7
152.2
157.6

41.5
173.3
171.1

38.9
174.9
161.7

43.8
179.1
162.4

44.8
176.2
172.0

51.5
184.8
176.3

15.9
66.9
68.4

18.0
74.1
67.1

18.2
69.3
69.5

18.1
76.0
70.6

17.6
74.5
66.1

18.7
74.8
64.7

17.7
71.3
67.1

19.7
72.7
68.2

Other
Durable goods
Nondurable goods

_._

Addenda:
Exports:
Agricultural products
Nonagricultural products
Imports of nonpetroleum products

_.

__

Table 4.1-A.S:
1. Equals rest-of-the-world production as shown in tables 1.6-1.6.




2. 1

4.4

SURVEY OF CURRENT BUSINESS

14

Table 5.1.—Gross Saving and Investment
1979

June 1981

Table 5.10-5.11.—Inventories and Final Sales of Business
in Current and Constant Dollars
1981

1980

1979
1979

1980

I

IV

n

m

1980

1981

I'

IV

IV

I

II

III

IV

I'

Seasonally adjusted at annual rates
Seasonally adjusted at annual rates
Billions of dollars
Billions of dollars
Grow saving
Grow private savin*
Personal saving
._
Undistributed
corporate
profits with IVA and
CCAdj
Undistributed profits
IVA
CCAdj
Capital consumption allowances with CCAdj:
Corporate Noncorporate.
Wage accruals less disbursements

411.9

401.9

402.0

404.5

394.5

402.0

406.7

442.6

398.9
86.2

432.9
101.3

396.4
80.7

413.0
86.4

435.9
110.0

446.5
111.4

436.4
97.6

447.7
88.9

40.4
52.1 42.1 42.8
59.1 44.3 50.6
90.7 102.4 106.6
117.6 107.2 116.6 128.9
-45.7
-61.4
-48.4
-50.8
-31.1 -41.7
-42.6
-15.9 -17.2 -15.1 -15.4 —17.6 -17.9 —17.8

52.3
108.4
-39.2
-16.9

178.4
113.4

183.2
115.8

187.5
119.0

.5

-.5

0

155.4
98.2

175.4
111.8

161.5
103.6

167.1
107.4

173.0
110.7

0

0

0

0

0

Government surplus or deficit
11.9 -32.1
(+), NIPA's
Federal
_
-14.8 -61.2
26.7
29.1
State and local
Capital grants received by the
United States (net)
Gross investment
Gross private domestic investmentNet foreign investment
Statistical discrepancy

-9.6 -42.5 -45.6 -30.8
-36.3 -66.5 -74.2 -67.9
26.6
37.1
23.9
28.6

-6.3
-43.3
37.0

1.1

u

1.1

401.3

407.3

392.5

405.0

400.1

446.0

Final sales2
Final sales of goods and structures

395.3 410.0
5.9 -8.7

415.6
-8.3

390.9
1.7

377.1
27.8

397.7
2.3

437.1
8.8

Ratio* Inventories to final sales.
Nonfarm inventories to final sales
Nonfarm inventories to final sales of
goods and structures

414.1

401.2

415.8
-1.7

Farm
_ . Nonfarm
Change in book value
IVA i
Manufacturing
Durable goods
._
Nondurable goods
Wholesale trade
Durable goods
._
Nondurable goods
Merchant wholesalers
Durable goods
Nondurable goods
Nonmerchant wholesalers.
Durable goods
Nondurable goods
—
Retail trade
Durable goods
Nondurable goods
Other
Durable goods _
Nondurable goods

17.5

-.7

-.7

2.8

-1.9

3.0

1.1

3.4

-6.6

-5.9

-0.8

2.5

7.4 -16.0

-17.4

Inventories
4.5

1.3 -3.7 -3.4 -2.4
1.0
3.6
4.1 -1.2
6.8
12.3 -14.0
6.1
1.5
-4.4
13.4 -4.7
52.7
42,4
36.5
75.1 43.4
57.0
64.6
49.3
-51.2 -54.0 -61.4 -73.5 -37.3 -48.8 -56.4 -45.9

12.3 -2.1
-.5
11.3
.9 -1.6
1.0
1.4
.4
.8
.2
1.1
.4
1.5
-.3
1.1
.4
.7
-.5
1.0
-.3
.6
-.2
.4
-.6 -4.4
-.5 —4.4
-.1
0
.3
.8
.1
.3
.8
-.1

6.4
13.3
10.6
3.4
-4.2
9.8
-1.2
—.4
-3.9
-2.7
3.5
1.5
-4.9
-3.9
-3.1 -3.7
g
1.2
4.5
2.7
-.2
.4
4.7
2.3
15.3
98
—9.1 -11.7
-.8 -3.6
.2
4.0
.4
.7
3.6
-.5

.4 -12.6
.4 -4.4
.1 -8.2
5.6 -1.9
-.8
5.9
-.3 -1.0
6.4
3.7
-.4
6.0
.4
4.1
-.8 -5.6
-.5
0
-.7 -5.1
2.9
-.5
-3.2 -3.0
5.9
2.7
-.8
.6
-.2
.2
-.6
.4

-9.7
-1.6
-8.1
.6
2.0
-1.4
.7
2.5
-1.8
-.1
-.5
.4
—4.5
.5
-4.9
-.4
-.2
-.2

Farm
Nonfarm

10.2

-2.9

-0.7

-0.9

2.4
7.8

-2.4
-.5

2.0
-2.7

.5
-1.4

15.0
6.2
8.9
.4
-.9
1.3
-3.8
-1.0
-2.7
4.2
.2
4.0
-9.4
-9.3
—.1
.8
—.1
.9

3.6
-1.0
-.1
5.7
-.9 -2.1
.5 -1.1
.5 -1.1
0
0
.6 -1.8
.6 -1.5
-.1 -.S
.7
c
-!i
.4
0
0
-5.\
-.1 -2.2
-5.2
-2.2
.1
0
.]
.]
0
0e
— .<

5.4
2.1
3.3
-.5
-1.0
.5
-1.3
-.9
-.4
.8
-.1
.9
—7.5
-5.9
-1.6
H
'.<

Nondurable goods
Other
Durable goods.
Nondurable goods.*




6.8
6.3
.6
1.0
.5
.5
.4
0
.4
.6

724.5

740.4

765.8

785.4

796.9

84.3
625.9
363.6
262.3

77.8
646.6
369.5
277.1

81.8
658.5
374.6
283.9

92.6
673.2
379.9
293.4

92.6
692.8
393.7
299.1

86.9
710.0
397.8
312.2

311.2
203.7
107.5
134.6
83.6
51.0
106.3
68.6
37 7
28.3
15.1
13.3
122.6
59.7
62.9
57.5

325.0
210.0
115.0
138.5
84.4
54.1
108.2
69.7
38.5
30.3
14.7
15.6
122.8
58.3
64.5
60.3

331.2
212.6
118.6
142.0
87.0
55.0
111.6
72.2
39.4
30.4
14.8
15.6
124.0
57.9
66.2
61.3

335.3
215.5
119.8
146.3
89.0
57.3
116.7
74.0
42.7
29.6
15.0
14.6
127.3
58.1
69.3
64.3

344.2
222.5
121.8
151.7
92.6
59.1
120.7
77.2
43.5
31.0
15.4
15.6
130.3
60.8
69.5
66.5

355.2
226.9
128.2
155.7
94.3
61.4
121.8
78.2
43.5
33.9
16.1
17.8
129.8
58.7
71.1
69.4

176.2
112.9

181.2
115.9

179.9
112.6

187.2
117.0

194.1
121.9

201.4
127.6

4.03
3.55

4.00
3.57

4.12
3.66

4.09
3.60

4.05
3.57

3.96
3.53

5.55

5.58

5.85

5.75

5.68

5.56

l

Farm
Nonfarm
Durable goods
Nondurable goods. _

—

Manufacturing
Durable goods— —
Nondurable goods
Wholesale trade
Durable goods
Nondurable goods .
Merchant wholesalers. Durable goods
Nondurable goods
Nonmerchant wholesalers
Durable goods
Nondurable goods Retail trade
Durable goods
Nondurable goods
Other
Final sales2
Final sales of goods and structures
Ratio* Inventories to final sales
Nonfarm inventories to final sales...
Nonfarm inventories to final sales of
goods and structures

343.5

343.3

343.6

342.3

340.6

340.2

43.5
300.0
181.8
118.2

43.6
299.6
180.6
119.0

43.8
299.8
180.8
118.9

43.4
299.0
179.9
119.1

43.0
297.6
179.9
117.6

42.7
297.5
179.2
118.3

145.9
99.0
47.0
64.2
42.2
22.0
52.8
34.9
17.8
11.4
7.3
4.2
66.8
32.6
34.2
23.1

147.3
99.5
47.8
64.1
42.0
22.1
52.5
34.7
17.7
11.6
7.2
4.4
64.9
31.1
33.8
23.4

147.2
99.5
47.7
64.5
42.5
21.9
52.9
35.3
17.6
11.6
7.2
4.4
64.7
30.7
34.1
23.4

145.9
99.0
46.8
64.7
42.5
22.2
53.3
35.3
18.1
11.3
7.2
4.1
65.1
30.
34.8
23.4

145.0
98.9
46.1
64.7
42.7
22.0
53.4
35.5
17.9
11.2
7.1
4.1
64.6
30.3
34.2
23.4

146.1
99.5
46.6
64.4
42.4
22.0
53.0
35.3
17.7
11.4
7.1
4.3
63.5
29.2
34.4
23.4

105.4
67.2

106.1
67.7

102.8
64.3

103.9
64.7

105.4
65.9

107.3
67.9

3.26
2.85

3.24
2.82

3.34
2.92

3.29
2.88

3.23
2.82

3.17
2.77

4.46

4.43

4.66

4.62

4.51

4.38

1.3

-5.0

-7.2

-1.4

Table 5.8-6.9:

.7
.6

-1.8
-3.1

-1.5
-5.6

—1.1
-.3

1. The IVA shown in this table differs from that which adjusts business income. The IVA
in this table reflects the mix of methods (first-in-first-out, last-in-first-out, etc.) underlying
book value inventories derived primarily from Census Bureau Statistics. The mix differs
from that underlying business income derived primarily from Internal Revenue Service
statistics.

IVA *
Manufacturing
Durable goods
Nondurable goods
Wholesale trade
Durable goods
Nondurable goods
Merchant wholesalers
Durable goods
Nondurable goods
Nonmerchant wholesalers.
Durable goods
Nondurable goods
Retail trade

710.1

Billions of 1972 dollars

Billions of 1972 dollars
Change in business inventories

-—

1.1

1.1

Table 5.8-5.9.—Change in Business Inventories by Industry
in Current and Constant Dollars
Change in business inventories

Manufacturing
Durable goods
Nondurable goods .
Wholesale trade . __ _
Durable goods
Nondurable goods
Merchant wholesalers _
Durable goods
Nondurable goods
Nonmerchant wholesalers
Durable goods
Nondurable goods
Retail trade
Durable goods
Nondurable goods
Other

_

1.1

1.1

2.2

-AS
28.9

Inventories *
Farm .
Nonfarm
Durable goods
Nondurable good

4.6
-3.6
-.5 -5.2
2.5
-1.8
-.7
0
2.1
-.5 -3.4
-2.8
-1.0
0
.9
1.5
-.2
-.9
.7
2.3
-.1
1.1
-.8
-.8
1.9
.3 -1.6
1.6
0
1.0 -1.0
2.3
-.7
2.0
—.7
-.7
-.3
.7
-.1 -1.1
—. ^
.1
-.3
0
-.1 -.9
-.1
.6
-4.3
1.3 -1.9
-.6
-1.7
.4 -4.7
-1.7
3.0 -2.J
.5
1.1t
-.1
.4
.']
-.1
-'.]
0
.4
.1
-.1
0

Table 5.10-5.11:
1. Inventories are as of the end of the quarter. The quarter-to-quarter change in inventories
calculated from current-dollar inventories 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 their respective 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 quarter rates, whereas CBI is stated at annual rates.
Quarter-to-quarter changes calculated from the constant-dollar inventories shown in this
table are at quarterly rates, whereas the constant-dollar change in business inventories component of GNP is stated at annual rates.
2. Quarterly totals at monthly rates. Business final sales equals final sales less gross product of households and institutions, government, and rest-of-the world and includes a small
amount of final sales by farms.

SUKVEY OF CURRENT BUSINESS

June 1981

Table 6.4.—National Income Without Capital Consumption
Adjustment by Industry
1979

1979

1980

1980

IV

I

n

15

Table 7.1-7.2.—Implicit Price Deflators and Fixed-Weighted
Price Indexes, 1972 Weights, for Gross National Product
1979

1981

m

IV

1979

I'

IV

1980

Seasonally adjusted at annual rates

1,970.5 2,130.8 2,037.9 2,092.1 2,081.3 2,132.6 2,217.1 2,300.2
1,692.7 1,829.1 1,750.9 1,799.6 1,783.7 1,830.1 1,903.1 1,979.5

Agriculture, forestry, and
fisheries
Mining
Construction

64.7
30.1
102.6

62.8
37.0
10S.4

65.4
32.6
107.9

63.5
34.4
110.2

62.4
36.4
105.3

62.1
36.0
106.6

63.4
40.9
111.6

61.4
42.6
116.2

Manufacturing— _
Durable goods
Nondurable goods

514.5
315.4
199.1

527.2
311. 5
215.7

516.7
311.0
205.8

538.9
317.5
221.4

504.3
293.7
210.6

517.6
305.7
211.9

548.1
329.2
218.9

578.2
344.0
234.1

Transportation and public
utilities
Transportation
Communication
Electric, gas, and sanitary services

158.3
76.3
43.5

174.3
80.0
50.1

163. 4
79.5
45.9

167.1
79.4
47.3

170.0
78.2
48.1

179.3
79.9
50.9

180.9
82.5
54.0

188.5
85.0
54.4

38.4

44.3

38.0

40.5

43.6

48.5

44.4

49.1

Wholesale trade.
Retail trade
Finance, insurance, and
real estate
Services

121.9
168.9

133.8
180.0

128.0
172.7

129.8
171.8

134.5
177.8

131.4
183.6

139.6
186.6

146.6
197.1

256. 3
275.3

290.8
314.8

271.1
293.0

280.7
303.2

284.1
308.9

294.3
319.1

304.0
327.9

308.3
340.6

Government and government enterprises

277.8

301.7

287.1

292.5

297.6

302.5

314.0

320.7

43.8

49.7

46.6

51.5

48.1

50.5

48.6

52.3

Rest of the world

II

III

IV

I'

Implicit price deflators, 1972=100

National income without CCAd j
2,014.3 2,180.4 2,084.6 2,143.6 2,129.4 2,183.1 2,265.6 2,352.5
Private industries ..

I

1981

Seasonally adjusted

Billions of dollars

Domestic industries

1980

162.77 177.36 167.47 171.23 175.28 179. 18 183.81 188.14

Gross national product
Personal consumption
penditures
Durable goods .
Nondurable goods
Services

ex-

144.8
169.8
162.1

162.3

178.9
156.0
188.6
178.1

168.0
148.0
176.9
167.4

172.9
151.9
182.9
171.6

177.0
1541
186.2
176.0

180.7
157.5
190.0
180.3

184.9
160.5
195.2
184.3

188.5
162.3
199.2
188.4

179.1
171.3
198.6

194,2
186.8
224.7

184.9
176.8
207.4

188.5
180.5
214.3

192.5
185.7
222.4

196.4
189.1
229.5

199.9
192.4
233.3

203.1
195.0
236.2

159.7
200.5
202.7
202.0

170.2
218.6
221.7
219.9

163.2
207.7
210.1
207.7

165.6
212.6
215 2
213.6

169.0
217.4
220.7
219.4

171.7
221.9
225.2
223.1

174.5
223.3
226.3
224.2

176.8
228.7
231.8
229.6

140.3

149.4

142.4

145.5

148.5

151.0

152.4

155.2

Net exports of goods and serv
ices
.
Exports
Imports

191 5
245.4

211.0
290.1

197.9
265.2

203.4
284.2

207.6
290.4

213.4
289.7

219.9
296.4

226.1
303.1

Government purchases of
goods and services . _ __
Federal
National defense
Nondefense
State and local

168.1
165.1
165.7
163.8
169.8

184.4
183.9
185.6
180.6
184,7

174.0
172.8
173.8
170.8
174.7

178.1
176.5
178.9
172.1
179.1

181.6
179.5
181.4
176.2
182.8

185.1
182.4
185.2
176.7
186.7

192.8
197.4
196.8
198.7
190.0

196.4
199.4
201.2
195.9
194.5

Gross private domestic investment
Fixed investment
Nonresidential
Structures
Producers'
durable
equipment
Residential
Nonfarm structures
Farm structures ..
Producers'
durable
equipment.
Change in business inventories

Table 6.20.—Corporate Profits by Industry
Fixed-weighted price indexes, 1972=100
1979
1979

1980

1981

1980
I

IV

11

III

IV

I'

Billions of dollars

Domestic industries
Financial
Nonfinancial-

196.8
166.5
29.8
136.7

182.7
151.5
27.9
123.6

189.4
157.7
30.4
127.3

200.2
163.6
31.0
132.6

169.3
140.0
27.4
112.5

177.9
147.0
25.8
121.2

183.3

203.0

155.6
27.4
128.2

177.6
25.5
152.1

30.3

31.1

31.7

36.6

29.3

30.9

27.7

25.4

212.7

199.8

204.5

215.6

186.9

195.9

201.0

219.9

182.4

168.7

172.9

179.0

157.5

165.0

173.4

194.4

Financial.
31.6
Federal Reserve Banks. . . 9.6
Other
22.0

30.6
11.9
18.7

32.6
10.5
22.1

33.3
11.9
21.4

30.1
12.7
17.4

28.7
11.3
17.4

30.5
12.0
18.5

28.7
13.5
15.2

150.8
88.9
39.5

138.1
74.5
20.9

140.3
80.2
29.3

145.7
92.1
28.1

127.5
61.3
10.1

136.2
68.5
19.4

142.9
76.2
25.8

165.7
91.4
31.8

4.2

3.1

2.8

5.9

2.0

.7

3.8

5.3

5.0

3.9

4.8

5.2

1.7

3.9

4.8

4.1

8.8

6.3

8.0

7.3

5.7

6.2

6.1

8.8

Rest of the world
Corporate profits with
Domestic industries

Nonfinancial
Manufacturing. _
Durable goods
Primary metal industries
Fabricated metal
products
Machinery, except
electrical
Electric and electronic
equipment...
Motor vehicles and
equipment
Other
Nondurable goods
Food and kindred
products
Chemicals and allied
products
Petroleum and coal
products
Other
Transportation and public
utilities
...
Wholesale and retail trade.
Other
Rest of the world

6.3

5.3

5.7

6.6

3.8

5.5

5.3

8.4

4.3
10.8
49.4

-4.3
6.5
53.7

-.8
8.8
50.9

-2.9
6.0
64.0

-8.8
5.6
51.2

-4,8
8.0
49.1

-.8
6.6
50.4

-1.7
7.0
59.6

6.9

7.3

6.7

8.2

6.7

5.7

8.6

10.5

8.2

7.5

6.6

8.8

6.0

7.0

8.1

10.2

18.3
16.0

24.6
14.3

23.7
13.8

31.0
16.0

25.3
13.2

22.2
14.2

19.9
13.8

21.8
17.0

18.0
23.0
20.8

18.5
20.9
24.1

14.9
22,6
22.6

16.1
14.8
22.7

16.6
25.9
23.7

22.5
20.4
24,8

18.8
22.6
25.2

21.7
27.5
25.2

30.3

31.1

31.7

36.6

29.3

30.9

27.7

25.4




167.3

183.3

173.1

177.1

181.1

185.1

189.7

194.4

166.0
147.7
174.0
164.9

184.3
160.1
195.6
182.0

172.4
151.1
182.2
170.6

177.8
155.2
189.1
175.2

182.1
158.3
193.1
180.1

186.3
162.0
197.3
184.3

190.8
164.9
202.9
188.5

195.8
166.7
209.5
193.1

185.0
176.7
194.9

203.8
195.5
217.9

191.7
183.0
203.3

196. 7
188.0
210.3

202.4
193.9
216.7

207.1
198.6
221.0

209.7
202.0
224.1

214.6
206.7
229.0

166.2
200.9

182.6
219.6

171.4
208.1

175.2
213.2

180.8
218.4

185.8
223.1

189.4
224.3

193.9
229.7

Producers'
durable
equipment
Change in business inventories
-Net exports of goods and services
E xports
Imports
i.

196.7
244.2

217.1
302.9

203.4
264.3

209.9
290.3

213.2
299.4

219.1
308.7

226.6
315.5

232.9
324.4

Government purchases of
goods and services
Federal
National defense
Nondefense _ ._ _ __
State and local

171.8
169.0
170.8
164.6
173.6

190.8
191.2
195.1
181.1
190.5

179.3
179.3
182.1
172.4
179.3

184.4
184.5
187.8
176.0
184,3

188.4
187.8
191.6
178.2
188.8

192.1
190.8
194.7
180.4
193.0

198.2
201.2
205.8
189.5
196.2

202.7
205.5
210.0
194.0
200.7

170.3
167.2

188.8
183.2

177.0
173.0

182.3
177.0

186.7
181.0

190.9
185.0

195.4
189.6

200.3
194.3

170.3

188.7

176.9

182.2

186.6

190.8

195.4

200.2

178.4

192.7

183.3

185.3

187.9

195.1

202.6

205.7

241.1

317.1

273.3 304.1

318.7

320.3

325.2

353.3

155.5

169.5

159.9

164.0

167.8

171.3

175.0

178.4

167.3
168.0
166.9

183.3
184.5

173.1
174.0

177.2
178.2

181.2
182.4

185.1
186.7

189.8
190.9

194.4
195.7

Personal consumption
penditures
Durable goods
Nondurable goods .
Services

Seasonally adjusted at annual rates

Corporate profits with
IVAandCCAdj

Gross national product...
ex-

Gross private domestic investment
Fixed investment
Nonresidential
Structures
Producers'
durable
equipment
Residential . ___
Nonfarm structures

Addenda:
Gross domestic purchases ».
Final sales
Final sales to domestic purchases * .
Personal consumption expenditures, food
Personal consumption expenditures, energy.
Other personal consumption
expenditures
Gross domestic product
Business
Nonfarm

Table 7 1-7t:
1. Gross domestic purchases equals GNP less exports plus imports; final sales to domestic
purchasers equals final sales less exports plus imports.

SURVEY OF CURRENT BUSINESS

16
1979
1979

1980

IV

1981

1980
I

II

June 1981

III

IV

1979

I'

1979

1980

IV

I

Seasonally adjusted

162.7

177.4

167.4

171.0

174.9

179.18 183.81 188.14

179.7

184.1

187.7

156.6

169.9

160.2

163.8

168.1

171.8

176.3

181.1

156.3

170.1

160.1

163.2

167.3

172 9

177.0

180.1

152.0
Durable goods
Final sales
.-*. 151.5
Change in business in-

164.1
164.5

154.7
154.7

157.0
158.6

164.2
163.4

166.3
167.0

169.2
169.1

173.3
172.9

160.2
160.1

174.2
174.2

164.3
164.2

168.7
166.7

170.9
170.1

175.7
177.2

181.8
182.8

186.7
185.4

Goods ..
Final sales
Change in business inventories..

Nondurable goods
Final sales...
Change in business inventories
Services

161.8

176.7

166.9

170.6

174.6

178.5

183.2

187.2

Structures

199.7

222.1 207.8

213.9

220.6

226.0

228.5

232.8

182.2

171.8

176.6

180.5

183.3

188.4

192.7

182.2

171.8

176.3

180.1

183.8

188.7

192.2

Addenda:
Gross domestic purchases »_. 166.1
Final sales1 to domestic purchasers
166.0

Table 7.4.—Implicit Price Deflators for Gross National Product by
Sector
Gross national product. . 162.77 177.36 167.47 171.23 175.28

179.18 183.81 188.14

162.8

177.4

167.5

171.3

175.3

179.2

183.8

188.2

162.6

161.5
163.1
147.8
200.8
162.6

177.4
177.0
179. 0
160.9
193.1
177.4

167.3
166.4
168.0
152.8
198.5
167.3

171.2
170.8
172.6
155.6
183.0
171.2

175.4
175.3
177.3
158.8
178.6
175.4

179.5
178.8
180.8
162.5
205.3
179.5

183.8
183.1
185.2
166.4
208.8
183.8

188.2
187.9
190.1
169.6
200.0
188.2

Households and institutions. 173. 2
Private households
180.3
Nonprofit institutions
. 172.6

189.5
193.8
189.1

179.0
185.6
178.4

183.2
188.8
182.7

187.7
191.8
187.4

190.7
195.0
190.3

196.0
199.8
195.7

201.2
203.4
201.0

Government
Federal
State and local

161.3
154.7
164.4

173.5
166.6
176.7

165.9
161.6
168.0

168.7
162.4
171.7

171.2
162.8
175.1

173.5
163.2
178.3

180.5
178 0
181.7

184.1
179.5
186.2

Rest of the world

161.0

175.4

165.7

169.4

173.2

177.2

182.0

186.5

Addendum:
Gross domestic business
product less housing

164.3

179.4

168.9

172.9

177.4

181.5

185.9

190.4

Gross domestic product
Business
Nonfarm
_
Nonfarm less housing. ._
Housing .
Farm
Statistical discrepancy

.

Table 7.5.—-Implicit Price Deflators for the Relation of Gross
National Product, Net National Product, and National Income
Gross national product Less: Capital consumption allowances with C C Adj

162.77 177.36 167.47 171.23 175.28

179.18 183.81 188.14

179.1

194.8

184.0

188.2

193.5

197.2

200.0

202.8

Equals: Net national product.. 161.0

175.4

165.7

169.4

173.2

177.2

182.0

186.5

Less: Indirect business tax
and nontax liability
plus business transfer
payments less subsidies
plus current surplus of
government enterprises. 135.7

146.4

137.6

139.6

144.7

147.5

Statistical discrepancy. _ 162.6
Equals: National income

164.1

177.4
179.1

167.3
169.1

171.2
173.1

175.4
176.8

IV

Ir

Table 7.7.—Current-Dollar Cost and Profit Per Unit of ConstantDollar Gross Domestic Product of Nonlinancial Corporate Business
Current-dollar cost and
profit per unit of constant-dollar gross domestic product L .. . 1.623
Capital consumption allowances with CCAdj
.169
1.454
Net domestic product
Indirect business tax and
nontax liability plus business transfer payments
less subsidies
.153
Domestic income
1.301
Compensation of employees
_. _ ... 1.092
Corporate profits with
IVA and CCAdj
.157
Profits tax liability
.080
Profits after tax with
IVA and CCAdj
.077
.052
Net interest

1.770

1.669

1.710

1.754

1.787

1.830

.191
1.579

.175
1.494

.180
1.530

.192
1.562

196
1.591

197 .197
1 633 1.679

.176
1.403

.157
1.337

.161
1.369

.173
1.389

.181
188 .199
1 411 1 444 1 480

1.196

1.135

1.158

1.193

1.203

.143
.073

.146
.078

.151
.085

.132
.061

.141
.070

.146
.075

.169
.079

.070
.065

.067
.056

.066
.060

.071
.064

.071
067

.071
068

.089
.067

1.876

1 230 1.244

Index numbers, 1972=100

Table 7.8.—Implicit Price Deflators for Auto Output
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
Change in business invenAddenda:
Domestic
output of new
autos 1
Sales of
imported new
2
autos . .
_

145.5

155.9

149.1

151.3

155.0

156.8

160.5

159.0

146.4

155.8

148.9

152.7

153.8

156.8

160.2

160.5

158.3
149.4

169.4
161.2

160.9
152.4

163.8
156.4

166.8
160.4

171.0
164.5

176.5
1646

176.8
164.3

133.2
149.4

146.5
161.3

136.1
152.2

141.2
156.2

150.8
160.2

154.9
164.3

140.5
164.4

137.5
164.9

150.0
195.6
147.6

164.7
211.4
167.5

152.8
199.5
155.6

156. 7
201.7
160.4

160.8
209.8
172.1

182.4
219.5
173.0

165.1
214.1
165.6

165.7
228.0
162.5

149.2

161.7

152.6

156.7

160.2

165.7

164.4

164.4

149.5

161.4

152.4

156.4

160.5

164.5

164.6

164.4

Table 7.9.—Implicit Price Deflators for Truck Output
Truck output 1

169.1

186.5

172.0

178.0

185.8

189.5

194.0

Final sales
Personal consumption expenditures
Producers' durable equipment

169.1

186.5

172.9

178.4

184.8

189.7

195.0

199.0

149.4

161.2

152.5

156.4

160.6

164.4

164.7

164.3

177.2

194.5

181.4

186.1

191.3

197.4

205.2

210.6

Exports
Imports
Government purchases
Change in business inventories

177.5
163.7
177.5

195.0
176.4
194.9

181.4
164.4
181.3

186.1
168.7
186.1

191.2
168.7
191.3

197.4
180.0
197.3

205.2
186.4
205.2

210.6
185.3
210.6

198.8

Table 7.11. — Implicit Price Deflators for Personal Consumption
Expenditures by Major Type of Product

179.5
180.9

183.8

i«j c
164.5
i»a
o
1S8> z
188.2

185. 6

mo *
189.3
*

153.7

Table 7.S:
4.'
1. Gross domestic purchases equals GNP less exports plus imports; final sales to domestic
mestic
purchasers equals final sales less exports plus imports.
Table 7.7:
ifH
1. Equals the deflator for gross domestic product of nonfinancial corporate businesssc wwith
wun
the decimal point shifted two places to the left.
Table 7.8:
j.u«
1. Consists of final sales and change in business inventories of new autos produced in
in the
the
United States.
A. and*
2. Consists of personal consumption expenditures, producers' durable equipment,
it, ana
government purchases.

Table 7.9:
http://fraser.stlouisfed.org/
1. Includes new trucks only.

Federal Reserve Bank of St. Louis

III

Dollars

Table 7.3.—Implicit Price Deflators for Gross National Product by
Major Type of Product

Final sales
Change in business inventories
.

II

Seasonally adjusted

Index numbers, 1972=100

Gross national product.. 162.77 177.36 167.47 171.23 175.28

1981

1980

Personal consumption
expenditures „

162.3

178.9

168.0

172.9

177.0

180.7

184.9

188.5

144.8
Durable goods ..
Motor vehicles and parts. __ . 154.6
Furniture and household
135.6
equipment
142.7

156.0
167.1

148.0
158.0

151.9
161.9

154.1
164.9

157.5
168.8

160.5
173.2

162.3
174.0

143.6
161.7

138.0
148.1

140.4
154.7

142.5
160.6

144.8
164.4

146.5
167.3

148.6
168.1

169.8
176.6
129.2
243.4
167.8
340.6
155.9

188.6
190.5
134.3
339.4
187.5
471.4
170.1

176.9
181.5
130.8
285.1
174.8
406.6
160.0

182.9
183.1
132.9
330.6
180.3
450.9
164.1

186.2
185.7
133.3
345.1
185.9
473.3
168.5

190.0
193.0
134.5
338.6
190.6
476.6
172.1

195.2
200.3
136.5
343.7
193.4
484.5
175.8

199.2
203.7
137.0
376.3
198.1
559.4
179.3

162.1
151.9
165.5
205.2
140.5
161.2
170.4

178.1
165.6
181.5
239.4
146.3
184.3
187.0

167.4
157.3
170.8
216.6
142.5
168.5
175.2

171.6
160.3
173.7
224.4
143.7
174.3
180.6

176.0
163.5
178.2
235.6
143.5
180.7
185.9

180.3
167.3
185.6
245.6
147.9
189.7
188.4

184.3
171.3
188.2
250.9
150.2
192.4
193.1

188.4
174.7
192.3
258.3
153.8
194.0
198.5

Nondurable 8goods
Food
Clothing and shoes...
Gasoline and oil.
,
Other nondurable goods
Fuel oil and coal

Other
Services.
Housing
Household operation
Electricity and gas
Other
Transportation
_
Other
_

SURVEY OF CURRENT BUSINESS

June 19S1

1979

1980

IV

1981

1980

1979
I

II

17

III

IV

1979
1979

I'

1980

IV

Seasonally adjusted

174.0

178.1 181.6

185.1

192.8

196.4

176.5

179.5

182.4

197.4

199.4

National defense
Durable goods
Nondurable goods
Services
Compensation of employees
Military
Civilian .
Other services
Structures

165.7 185.6 173.8 178.9
162.0 179 1 166.6 172.6
292.4 441.5 344.6 425.0
160.3 174.6 167.5 169.0

181.4
176.2
420.7
170.8

185.2
182.6
451.6
172.9

196.8
184.8
465.1
185.8

201.2
193.7
476.1
188.9

152.3
147.6
159.0
177.8
174.4

164.7 159.5 160.3
160.9 155.3 155.9
170.2 165.5 166.4
194.0 184.6 186.6
198.3 185.8 192.3

160.7
156.4
166.8
190.0
198.1

161.1
156.8
167.3
195.9
199.6

176.9 178.4
174.5 176.0
180.3 181.8
203.0 208.5
203.1 207.1

Nondefense
Durable goods
Nondurable goods
Services
Compensation of employees
Other services
Structures

163.8
93.0

180.6
167.5

176.2
165.4

176.7
168 6

198.7
175.2

Federal

State and local
Durable goods
. ...
Nondurable goods ..
..
Services..
Compensation of employees
Other services .
Structures

165.1

183.9

172.8

170.8

172.1
160.6

195.9
186.6

162.4

176.9

168.8

173.7

176.6

185.9

189.1

159.1
166.9
186.0

170.0
185.4
207.7

165.5 166.3 166.7
173.2 178.1 182.5
194.1 200.1 206.0

167.2
187.7
211.0

180.2
192.8
214.2

181.8
198.1
218.9

169.8

171.5

184.7

174.7

179.1 182.8

186.7

190.0

194.5

157.7 169.7
175.1 191.7
165.8 179.4

161.2
180.6
170.0

165.1 168.1
184.9 188.6
174.0 177.7

170.6
194.7
181.3

175.0
198.2
184.7

178.4
202.3
189.2

164.4
170.2
197.6

168.0 171.7
175.9 180.7
206.1 213.2

175.1 178.3
185.5 190.2
219.6 224.7

181.7
193.5
226.3

186.2
198.1
231.3

176.7
187.5
220.8

Table 7.16.—Implicit Price Deflators for Exports and Imports of
Goods and Services
203.4

207.6

213.4

219.9

226.1

Merchandise
Durable goods
Nondurable goods

213.7 236.7 221.5 228.3
203.8 229.7 209.2 218.5
229.1 247.2 239.6 244.0

232.2
225.9
241.8

238.5
233.1
246.4

248.4
242.6
256.8

255.7
250.2
263.1

Services.
Factor income
Other

162.8 176. 5
161.3 175.3
165.6 179.0

Exports of goods and services.. 191.5

211.0

197.9

IV

I'

Table 7.17.—'Implicit Price Deflators for Merchandise Exports and
Imports by Type of Product and by End-Use Category
Merchandise exports
Foods, feeds, and beverages...
Industrial supplies and materials
_
Durable goods
_
._.
Nondurable goods.
-..
Capital goods, except autos
Autos
Consumer goods
Durable goods
_
Nondurable goods
Other
Durable goods
Nondurable goods
Merchandise imports.
Foods, feeds, and beverages.,Industrial supplies and materials, excluding petroleum.
Durable goods
Nondurable goods
Petroleum and products
,
Capital goods except autos _..
Autos
Consumer goods
Durable goods
Nondurable goods..
Other
Durable goods
Nondurable goods
Addenda:
Exports:
Agricultural products
Nonagricultural products.. _
Imports of nonpetroleum
products

213.7

236.7

221.5

228.3

232.2

238.5

248.4

222.8

235.1

229.1

228.7

221.6

234.1

255.41 263.1

251.7
251.8
251.7
189.1
215.8
187.5
203.4
174.5
213.0
213.0
213.0

282.9 269.5 285.1
282.9 269.5 285.1
282.9 269.5 285.1
212.2 190.2 196.0
249.7 222.7 234.5
199.5 192.5 200.7
231.1 212.5 227.9
172.6 176.3 170.8
235.9 221.5 228.2
235.9 221.5 228.2
235.9 221.5 228.2

282.8
282.8
282.8
207.4
243.1
192.4
226.8
166.3
232.1
232.1
232.1

280.5
280.5
280.5
217.9
255.0
201.7
232.2
176.9
238.5
238.4
238.7

283.1
283.1
283.1
228.1
267.3
202.9
238.9
176.4
248.4
248.5
248.2

271.6

332.3

298.9

327.0

334.8

328.4

339.1

348.0

228.4

270.1 247.1

260.4

266.6

276.0

277.3

277.0

255.7

292.6
292.5
292.6
237.5
270.6
199.2
237.4
173.5
255.8
255.8
255.8

244.5
244.9
244.1
702.0
178.6
231.9
203.7
186.4
236.9
217.5
217.5
217.5

301.1
306.6
293.2
1,153.8
205.4
248.5
221.2
195.0
282.4
246.2
246.2
246.2

222.4
211.6

234.5
237.2

229.0
219.5

229.8
227.9

220.7
234.9

234.0
239.6

253.5
247.1

261.8
254.1

217.8

248.4

226.7

242.3

244.4

251.1

256.2

258.6

267.7 296.6 299.2
305.9 300.3
267.7 303.3 303.8 309.3 311.0 301.4
267.7 286.2 292.9 296.5 298.3 298.9
893.3 1,059.7 1,163.2 1.191.6 1,231. 01,319.8
182.2 195.3 208.1 208.1 210.4 209.6
233.5 239.3 235.0 252.3 267.4 277.4
203.8 216.3 214.2 226.2 228.5 236.7
188.1 190.7 188.8 198.1 202.8 206.5
234.6 278.6 273.2 289.1 289.0 312.9
226.7 239.2 242.2 249.1 254.2 258.4
226.8 239.3 242.2 249.3 253.9 258.0
226.6 239.0 242.2 248.8 254.4 258.7

Table 7.21.—Implicit Price Deflators for Inventories and Final Sales
of Business
Inventories * .

211.0

215.5

223.7

230.6

234 3

303.1

Farm
Nonfarm
Durable goods
Nondurable goods

193.7
208 6
200.0
222.0

178.4
215 8
204 6
232.9

186.8
219 7
207 2
238.7

213.6
225 2
211.2
246.3

215.4
232 8
218.8
254.3

203.6
238 6
222.0
263.8

348.0
244.0
533.2

Manufacturing ^
Durable goods
Nondurable goods

213 3
205.9
228.9

220 6
211 1
240.6

225 1
213 7
248.9

229 9
217.6
255.9

237.5
225.1
264.1

243.1
228.1
275.0

Wholesale trade
Durable goods
Nondurable goods
Merchant wholesalers
Durable goods
Nondurable goods . _
Nonmerchant wholesalers
Durable goods
Nondurable goods

209.7
198.2
231.8
201 4
196 2
211.6
247.8
207.6
317.9

216.1
201.2
244.4
206 3
200.8
217.1
260.3
203.1
354 4

220.3
204.7
250.6
211 1
204.6
224.2
262.0
204.9
356 6

226.2
209.5
258.1
218.7
200.6
236.6
261.2
208.9
351.9

234.7
217.2
268.5
226.0
217.4
243.0
275.8
216.1
379.0

241.7
222.2
279.2
229.7
221.7
245.8
297.0
224.8
417.8

Retail trade
Durable goods
Nondurable goods
Other

183.6
183.3
184.0
248.8

189.3
187.6
190.8
258.1

191.6
188.7
194.2
261.5

195. 7
192.0
199.0
274.6

201.8
200.4
203.0
284.7

204.3
201.3
206.8
295.9

167.3

170.8

175.0

180.1

184.1

187.6

167.9

171.2

175.2

180.7

184.9

188.1

170.7
169.4
173.6

174.6 178.4
173.2 177.2
177.1 180.6

182.8
182.0
184.2

187.0
186.5
187.9

290.1 265.2

284.2

290.4

289.7

296.4

M erchandise
Durable goods
Nondurable goods

271.6 332.3 298.9 327.0
209.8 235.4 216.1 230.0
369.9 507.2 431.6 498.4

334.8
230.8
517.6

328.4 339.1
237.0 243.9
498.6 514.2

Services
Factor income
Other

182.9 201.1 189.5
161.5 175.3 165.7
199.5 225.5 212.0

193.2 198.6 205.2 208.1 213.0
169.4 173.3 177.2 182.0 186.5
217.3 222.7 228.3 234.0 239.9

1. Inventories are as of the end of the quarter.
2. Business final sales equals final sales less gross product of households and institutions,
government, and rest of the world.




ra

206.7

167.2
165.7
170.2

Imports of goods and services.. 245.4

H

Index numbers, 1972=100

Table 7.14B.—Implicit Price Deflators for Government Purchases
of Goods and Services by Type
184.4

I

1981

Seasonally adjusted

Index numbers, 1972=100

Government purchases
of goods and services.. 168.1

1980

Final sales 8
Final sales of goods and structures
.

Table 8.1.—Percent Change From Preceding Period iu Gross National Product in Current and Constant Dollars, Implicit Price
Deflator, and Price Indexes
1980

1979

1979

1980

IV

II

I

1981

III

IV

1979
1979

Ir

1980

IV

Seasonally adjusted

I

II

Percent

8.5
8.7
9.4

8.8
.6
8.1
8.6
10.3

12.6
3.1
9.3
8.7
9.7

-1.1
-9.9
9.8
8.8
9.3

11.8
2.4
9.2
9.3
9.0

14.9
3.8
10.7
10.5
10.4

19.2
8.6
9.8
9.8
10.2

Imports:
Current dollars .
1972 dollars
Implicit price deflator
Chain price index
Fixed- weighted price index. .

21.6
6.0
14.7
17.2
16.2

18.1
-.1
18.2
25.2
24.0

38.7
9.1
27.2
28.1
23.1

47.4 -14.8
11.9 -21.9
31.8
9.0
16.2
38.8
13.1
45.5

Personal consumption
expenditures:
Current dollars
12.0
1972 dollars
2.9
Implicit price deflator.
8.9
Chain price index.
9.3
Fixed-weighted price index. . 9.6

10.7
.5
10.2
10.6
11.0

14.7
3.6
10.7
10,9
11.4

12.9
.8
12.0
12.5
13.2

-1.0
-9.8
9.8
9.7
9.9

14.3
5.1
8.8
9.5
9.5

17.4
7.0
9.7
10.1
10.1

14.2
4.8
8.0
10.3
10.9

Government purchases of
goods and services:
Current dollars
1972 dollars
Implicit price deflator
Chain price index
Fixed-weighted price index..

9.5
1.5
7.9
8.4
9.3

12.9
2.9
9.7
9.7
11.1

18.8
6.1
12.0
12.5
14.8

17.5
6.9
9.9
10.3
11.8

6.5
.2
6.3
6.8

-.2
-7.4
7.7
8.4

5.4
-1.8
7.3
7.5

9.2 -40.0
-1.6 -43.3
5.8
11.0
8.5
11.2

32.9
21.7
9.2
8.8

30.9
21.2
8.0
7.8

27.7
24.1
4.5
4.7

9.5
1.9
7.4
8.3

18.5
6.3
11.4
11.0

35.4
13.1
19.7
21.3

6.8

8.4

7.4

8.3

9.7

7.4

4.5

Federal:
Current dollars
1972 dollars
Implicit price deflator. _.
Chain price index
Fixed-weighted price
index .

9.2

13.1

National defense:
Current dollars
1972 dollars
Implicit price deflator.
Chain price index
Fixed-weighted
price index

11.2
2.6
8.4
8.8

Durable goods:
Current dollars
1972 dollars
Implicit price deflators..
Chain price index
Fixed-weighted
price
index
Nondurable goods :
Current dollar
1972 dollars
Implicit price deflator...
Chain price index
Fixed-weighted
price
index
Services:
Current dollars
1972 dollars
Implicit price deflator...
Chain price index
Fixed-weighted
price
index
Gross private domestic investment:
Current dollars
1972 dollars
Implicit price deflator .
Chain price index
Fixed-weighted price index..
Fixed investment:
Current dollars
1972 dollars __
Implicit price deflator...
Chain price index
Fixed-weighted
price
index _
__.
Nonresidential:
Current dollars
1972 dollars
Implicit price deflator
Chain price index. ...
Fixed-weighted price
index
Structures:
Current dollars —
1972 dollars
Implicit price deflator
Chain price index. .
Fixed-weighted
price index

12.0
3.2

13.7
2.6
10.8
11.3

12.2
1.1
11.0
12.0

19.4
6.8
11.8
12.8

14.4
.2
14.2
14.9

1.8
-5.3
7.5
8.3

6.3
-1.8
8.3
9.4

11.6

12.4

13.5

16.0

8.6

9.2

12.4
4.1
8,0
8.3
8.5

Exports:
Current dollars
1972 dollars
Implicit price deflator
Chain price deflator
Fixed-weighted price index..

12.8
2.6
9.9
10.2
10.4

13.5
2.8
10.5
10.4
10.6

10.8 -4.9 -10.6
1.3 -12.5 -17.8

12.7
2.1
10.4
10.9
11.1

10.8
0
10.7
11.2
11.7

18.5
6.3
11.5
11.8

13.4
4.6
8.4
12.5

11.8

13.6

17.0
6.4
10.0
9.9

13.1
3.7
9.1
9.3

10.9
1.4
9.3
9.9

9.9

9.3

10.1

23.7
11.1

45.9
24.2

2.2 -25.8
-5.3 -31.8
8.9
7.9
12.3
10.5

10.5
2.1
8.3
9.7

24.2
15.7
7.4
5.3

18.0
10.8
6.5
9.4

12.0

9.7

5.2

9.7

11.0 -10. 4
2.2 -19.9

6.0
-1.5

11.5
4.0

19.6
13.3

5.6 -21.8
-5.6 -28.9

-13.3
-10.0

12.8
3.1
9.4
10.2

.7
-7.1
8.5
10.0

2.5
-4.8
7.7
8.4

10.7

10.1

8.4

15.6
6.5

5.8
-3.0

2.3
-5.4

8.6
9.0

9.1
10.3

8.2
9.4

8.6
10.7

11.8
13.1

7.6
10.0

7.2
6.3

5.6
9.1

9.7

10.6

9.8

11.3

13.1

10.2

7.0

9.5

22.4
8.7

13.0
-.1

24.0
10.3

12.4
.7
-1.4 -13.1

-4.0
-15.3

16.5
9.0

22.3
16.6

12.6
12.9

13.1
11.9

12.4
12.2

14.0
14.8

15.9
12.6

13.3
8.3

6.9
6.4

4.9
9.7

12.9

11.8

12.0

14.5

12.6

8.1

5.8

9.0

Producers' durable
equipment:
Current dollars
12.3
1972 dollars
5.5
Implicit price deflator
6.4
Chain price index. . 7.1
Fixed-weighted
price index
7.6
Residential:
Current dollars
1972 dollars
Implicit price deflatorChain price index
Fixed-weighted
price index

11.1

2.0 -7.9
-4.2 -11.6

10.8

10.2 -16.3
3.8 -22.7

12.3
5.3

8.7
1.9

18.0
11.8

6.5
9.5

4.1
8.0

6.2
8.3

8.3
13.4

6.6
11.0

6.6
6.3

5.5
8.8

9.8

8.3

9.1

13.4

11.6

7.9

9.9

25.7
16.0

68.5
64.2

14.0
3.6

6.6 -11.3
-5.2 -18.6

2.8 -16.7 -56.4
-3.1 -24.2 -60.2

12.5
12.6

9.0
9.3

6.1
6.1

9.8
10.1

9.5
10.2

8.4
8.9

2.6
2.1

10.0
1.1

12.6

9.3

6.2

10.1

10.2

8.8

2.1

10.1

28.0
15.2
11.1
12.0
12.6

20.8
9.6
10.2
10.1
10.3

19.2
9.4
8.9
7.4
8.0 1

47.1 -4.7
32.0 -12.3
11.5
8.6
12.4
6.8
13.5
6.5

11.-!

44
-7.4
12.8
14.
14.

27.0
13.6
11.8
11.6
11.7

11*. i
11.5
11.5

III

IV

I'

Percent at annual rates

8.8
-.2
9.0
8.6
9.6

Gross national product:
Current dollars __
1972 dollars
Implicit price deflator
Chain price index
Fixed-weighted price index..

1981

Seasonally adjusted

Percent at annual rates

Percent

1980

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 the composition
Digitized for of
FRASER
constant-dollar output in that period. In other words, the price index for each item (1972=
100) is weighted by the ratio of the quantity of the item valued in 1972 prices to the total output
http://fraser.stlouisfed.org/
in 1972 prices. Changes in the implicit price deflator reflect both changes in prices and changes
Federal Reserve Bank of St. Louis

-21.2
-20.4
-1.0
11.9
13. J

37.8
25.8
9.6
9.6
9.0

20.5
10.3
9.3
12.6
11.8

10.6
2.5
7.9
8.3
9.0

2.6
-5.0
8.0
8.5
8.3

20.2
2.2
17.6
12.8
13.3

13.5
5.4
7.7
9.2
9.3

29.5
18.9
8.9
9.4

19.8
11.9
7.0
6.7

-7.5
-13.1
6.4
7.5

40.2
2.0
37.4
22.9

19.3
14.8
4.0
9.3

24.5

12.1

7.3

6.5

23 fi

8.8

18.4
5.7
12.0
11.8

26.2
7.1
17.9
22.2

23.2
9.8
12.2
9.1

12.4
6.2
5.8
7.0

8.4
—.1
8.6
7.2

35.0
5.9
27.5
23.6

10.4
1.1
9.3
8.7

9.8

14.3

26.6

13.3

8.1

7.1

24.4

8.4

6.1
.6

18.6
7.5

56.4
26.4

42.9
38.4

35.0
23.1

-32.2
-33.1

51.2
-5.3

3S.9
46.8

5.5
7.4

10.3
9.4

23.8
19.4

3.3
10.1

9.7
6.1

1.3
8.2

59.7
21.4

-5.4
10.4

7.7

10.0

19.1

8.8

5.1

5.0

21.6

9.9

9.6
1.2
8.2
8.5

9.8
1.0
8.7
9.0

10.6
2.4
8.1
8.0

11.2
.6
10.5
10.7

5.6
-2.8
8.6
9.2

9.1

8.'g
9.1

9.7
2.3
7.2
7.2

10.0
.2
9.8
9.2

9.3

9.7

8.8

11.7

10.2

9.1

6.8

9.7

Gross domestic purchases:
Current dollars
11.3
1972 dollars
2.3
Implicit price deflator
8.8
Chain price index.
9.3
Fixed-weighted price index. . 9.7

8.4
-1.1
9.7
10.3
10.8

10.7
.4
10.3
10.8
11.6

12.6 -2.4
1.0 -10.6
9.2
11.5
10.0
11.6
9.9
12.5

7.3
.8
6.5
9.3
9.3

18.9
6.6
11.5
9.9
10.0

18.4
8.1
9.4
9.9
10.2

Final sales:
Current dollars...
12. 3
1972 dollars
3.5
Implicit price deflator
8.5
Chain price index
8.7
Fixed-weighted price index. . 9.4

9.8
.7
9.0
8.6
9.6

11.4
2.9
8.2
8.6
10.3

12.0 -1.8
3.1 -10.4
9.6
8.7
8.6
8.9
9.5
9.6

15.9
4.1
11.3
9.3
9.0

15.0
44
10.2
10.6
10.4

15.5
6.9
8.0
9.8
10.3

Final sales to domestic
purchasers:
Current dollars
11.6
1972 dollars
2.6
Implicit price deflator
8.8
Chain price index
9.2
Fixed-weighted price index. . 9.7

9.5
-.2
9.7
10.3
10.9

13.3
2.7
10.3
10.8
11.6

12.0 -3.2
1.0 -11.2
9.0
10.9
11.7
9.8
12.5
10.1

11.2
2.5
8.5
9.3
9.2

19.0
7.2
10.9
9.9
10.0

14.6
6.4
7.7
9.9
10.3

11.5
2.8
8.5
8.7
9.4

8.7
-.2
9.0
8.6
9.6

9.3
1.0
8.1
8.6
10.3

12.0
2.5
9.3
8.7
9.7

-.6
-9.4
9.8
8.8
9.3

11.6
2.2
9.2
9.3
9.0

15.6
4.4
10.7
10.5
10.4

18.9
8.3
9.8
9.8
10.2

11.9
2.9
8.7
9.0

8.5
-.5
9.1
8.7

8.8
1.1
7.6
8.1

12.5 -1.9
2.7 -11.1
10.3
9.5
8.9
9.1

12.3
2.3
9.7
9.9

15.4
5.0
9.9
9.7

20.3
9.5
9.9
10.0

9.7

9.8

10.0

9.8

9.6

9.3

10.5

11.8
3.1

9.1
-.4

9.8
1.7

12.9 -1.1
1.7 -10.8

11.6
3.1

17.6
6.9

19.3
7.7

8.5
8.8

9.6

8.0

11.0

10.9

8.3

10.0

10.8

11.0
.7

11.6
.8

13.5
1.3

4.4
-4.9

13.3
4.1

12.8
2.9

11.2
3.0

Nondefense:
Current dollars
1972 dollars
Implicit price deflator
Chain price index...
Fixed-weighted
price index
State and local:
Current dollars
1972 dollars
Implicit price deflator.-.
Chain price index
Fixed-weighted price
index
Addenda:

Gross domestic product:
Current dollars..
1972 dollars
Implicit price deflator
Fixed-weighted price index..
Business:
Current dollars
1972 dollars
Implicit price deflatorChain price index
Fixed-weighted price
index
Nonfarm:
Current dollars
1972 dollars
Implicit price deflator
Fixed-weighted
Disposable personal income:
Current dollars
1972 dollars

10.1

95

12.2
3.1

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 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 time span reflect only changes in prices.

By GARY L. RUTLEDGE and BETSY D. O'CONNOR

Plant and Equipment Expenditures by Business for Pollution
Abatement, 1973-80, and Planned 1981
article presents expenditures in
1980 and planned expenditures for
1981 for new plant and equipment to
abate air and water pollution and to dispose of solid waste based on a BEA
survey in late 1980. It also presents revised estimates for 1973-79 that incorporate coverage and statistical improvements (chart 4). Highlights are:
• Business plans a 9-percent increase
in pollution abatement (PA) capital
spending in 1981, the same increase
as in 1980.
• Prices of PA capital goods as measured by the implicit price deflator
increased 10 percent in 1980.
• Real spending decreased 1 percent in
1980. Business plans indicate a similar decrease in real spending in 1981
if prices increase at the 1980 rate.
• The average annual increase in the
revised series for 1973-79 is larger
than in the previously published
series—9 percent compared with 5
NOTE.—Publication of the revised estimates
for 1973-79 completes a 3-year project by the
Environmental and Nonmarket Economics
Division. Gary L. Rutledge, Chief of the
Abatement and Control Expenditures Branch,
directed the project. Betsy D. O'Connor developed specifications for computer programs,
performed most of the reediting and other
production tasks, coordinated work by
others—William J. Russo, Jr., Kit D. Farber,
Howard J. White, and Tracy K. Leigh—and
contributed to the article. George R. Green,
Marie P. Hertzberg, and John T. Woodward,
of the Business Outlook Division, contributed
significantly to the formulation of the revision
project and provided staff support for reediting and processing. Colin B. Brown, Maurice A. Schlak, and Lisa K. Westerback, of
the Computer Systems and Services Division,
provided computer assistance.



CHART 4
percent. The estimate for 1973 was revised down; estimates for other years
New Plant and Equipment Expenditures
were revised up.
for Pollution Abatement
Pollution abatement is the reduction
or elimination of emissions of pollutants Billion $ (Ratio scale)
that is brought about by human activity 10.0 -TOTAL
directed to that purpose. Disposal of 8.0
solid waste refers to the collection and
disposal of solid waste by means accept- 6.0
Previously Published
able to Federal, State, and local author- 5.0
ities. Part of expenditures for disposal
J
I
J
I
of solid waste is not for PA, but its ex- 4.0
6.0
clusion is not attempted at the level of 5.0
detail in this article.1
The universe estimates presented are 4.0
for capital expenditures by nonfarm
Previous^ Published
3.0
nonresidential business, excluding expenditures for emission abatement deI
I
I
I
I
I
vices on cars and trucks.2 These esti- 2.0
4.0
mates are based on sample data from
WATER
Revised
companies, each of which is assigned to 3.0
the industry corresponding to the company's principal product. (See TechniPreviously Published
cal Note 1 for a description of the sur- 2.0
vey methodology.)

Survey results: 1980 and planned
1981
Business spent $9.2 billion in 1980 for
new plant and equipment to abate air
and water pollution and to dispose of
solid waste—a 9-percent increase from.
1979. Business plans another 9-percent
1. For further discussion of pollution abatement
and solid waste disposal, see John E. Cremeans,
"Conceptual and Statistical Issues in Developing
Environmental Measures—Recent U.S. Experience,"
Review of Income and Wealth, ser. 23 (June 1977) :
97-115, and Gary L. Rutledge and Susan L. Trevathan, "Pollution Abatement and Control Expenditures, 1972-79," SURVEY OP CURRENT BUSINESS 61
(March 1981) : 19-27.
2. For expenditures by business for emission
abatement devices on cars and trucks, see Rutledge and Trevathan, "Pollution Abatement," p. 20.

J_ J
1.0
1.0 _ SOLID WASTE

I

0.8

0.6
0.5
0.4

Previously Published

0.3

I

0.2

1973

74

75

I
76

I
77

I
78

79

80

• Planned
U.S. Department of Commerce, Bureau of Economic Analysis

81
81-6-

19

20

SUEVEY OF CURRENT BUSINESS

June 1981

Table 1.—New Plant and Equipment Expenditures by U.S. Nonfarm Business: Total and for Pollution Abatement

[Billions of dollars]
1974

1973

Pollution abatement
Total i

Total nonfftrm business
Manufacturing
Durable goods

-.
.- -..

Primary metals 3
Blast furnaces steel works
Nonferrous metals
Fabricated metals
Electrical machinery
Machinery except electrical
Transportation equipment 3
Motor vehicles
Aircraft
Stone clay and glass
Other durables *

-

-

-

- -

Nondurable goods
Food including beverage
Textiles
Paper
Chemicals
- - - Petroleum
Rubber
Other nondurables 5
Non manufacturing
Mining
Transportation
Railroad
Air
Other
Public utilities
- - Electric
Gas and other
Trade and services -Communication and other '

-

Total

Air

Pollution abatement

Water

Solid
Waste2

Total i

Total

Total nonfarm business

Durable goods

--

Primary metals '
Blastfurnaces steelworks
Nonferrous metals
Fabricated metals
Electrical machinery
Machinery except electrical
Transportation eouipment 3
Motor vehicles
Aircraft
Stone clay and glass
Other durables *

--

Nondurable goods
Food including leverage
Textiles
Paper
Chemicals
Petroleum
Rubber
Other nondurables '
Nonmanufacturing
Mining
Transportation
Railroad
Air
Other
Public utilities
Electric
Gas and other
Trade and services
Communication and other 6

See footnotes at end of table.




-

---

Air

Pollution abatement

Water

Solid
waste

Totali

Total

Air

Water

Solid
waste

137. 70

4.92

2.92

1.69

0.31

156.98

5.70

3.37

1.93

0.40

157. 71

6.97

4.02

2.56

0.39

42.37

3.10

1.83

1.09

.18

53.21

3.74

2.16

1.33

.25

54.92

4.93

2.75

1.94

.24

22.75

1.46

1.02

.37

.07

27.44

1.62

1.11

.42

.09

26.33

1.90

1.28

.53

.09

3.00
1.25
1.30
1.81
3.50
3.97
5.66
3.83
.87
1.58
3.23

.63
.19
.36
.09
.12
.09
.22
.16
.04
.15
.16

.52
.13
.32
.05
.05
.05
.11
.08
.02
.13
.10

.09
.06
.03
.03
.06
.04
.08
.06
.02
.02
.05

.02
(*)
.01
(*)
.01
.01
.02
.02
(*)
(*)
.01

4.51
1.94
2.05
1.94
3.85
5.23
6.86
4.30
1.51
1.64
3.41

.74
.25
.43
.10
.12
.09
.19
.14
.04
.21
.18

.56
.17
.34
.07
.06
.04
.09
.06
.02
.19
.11

.15
.07
.06
.02
.06
.04
.06
.05
.02
.02
.07

.03
.01
.02
(*)
(*)
.01
.03
.03
(*)
(*)
.01

5.81
3.02
2.17
1.97
3.14
4.96
5.92
3.35
1.68
1.66
2.86

1.02
.43
.52
.13
.09
.09
.16
.10
.05
.22
.19

.75
.28
.41
.07
.05
.04
.07
.04
.03
.19
.10

.22
.14
.07
.06
.03
.04
.07
.04
.02
.03
.08

.04
(*)
.04
(*)
.01
.01
.02
.02
(*)

19.62

1.62

.82

.72

.11

25.76

2.12

1.05

.91

.16

28.59

3.03

1.46

1.42

.15

3.62
1.03
1.99
4.24
4.68
1.55
2.51

.24
.04
.31
.43
.55
.04
.04

.09
.01
.17
.18
.32
.02
.02

.13
.03
.12
.22
.18
.02
.01

.02
(*)
.01
.02
.05
(*)
(*)

4.03
1.09
2.89
6.47
7.31
1.57
2.39

.25
.05
.38
.56
.78.
.05
.05

.08
.02
.24
.24
.41
.03
.04

.15
.02
.13
.30.
.29
.02
.01

.02
(*)
.01
.03
.08
(*)
.01

4.02
.90
2.98
7.63
9.59
1.16
2.32

.29
.05
.50
.82
1.27
.05
.05

.09
.03
.27
.31
.71
.03
.03

.17
.02
.21
.47
.50
.02
.02

.02
(*)
.02
.04
.06
(*)
.01

95.33

1.82

1.09

.60

.13

103.78

1.96

1.20

.15

102. 79

2.04

1.27

.61

.15

3.31
7.41
2.15
2.09
3.17
17.97
15.00
2.97
45.53
21.12

.14
.05
.02
.01
.02
1.32
1.29
.03
.23
.08

.06
.02
.01
.01
.01
.82
.81
.01
.12
.07

.07
.03
.01
(*)
.01
.42
.41
.02
.08
.01

.01

4.62
8.23
2.70
1.94
3.59
19.83
16.64
3.19
47.79
23.30

.14
.10
.03
.01
.06
1.47
1.43
.04
.18
.06

.07
.04
.02
.01
.02
.95
.93
.02
.09
.05

.01
.01

6.10
8.68
2.88
1.62
4.19
19.98
16.65
3.33
46.23
21.80

.14
.11
.04
.01
.06
1.51
1.47
.04
.21
.08

.06
.04
.01
(*)
.02
1.01
1.00
.01
.11
.05

.06
.05
.02
(*)
.03
.41
.39
.03
.06
.03

.02
.01
(*)
(•)
.01
.08
.08
(*)
.03
.01

8
o
<?«
.07
<?0.
(*)

.60 '
.06
.05
.02
(*)
.03
.43
.42
.02
.05
.01

(*)
(*).01
.08
.08
(*)
.04
(*)

".«

1978

1977

1976

IVf anufacturing

1975

171.45

7.23

3.81

2.97

0.45

198. 08

7.34

3.80

3.04

0.50

231.24

7.58

3.91

3.11

59.95

4.83

2.33

2.21

.29

69.22

4.66

2.14

2.22

.30

79.72

4.44

2.26

1.86

28.47

1.78

1.11

.60

.07

34.04

1.78

1.00

.69

.10

40.43

1.74

1.05

.58

.12

5.76
3.04
1.97
2.23
3.66
5.53
6.39
3.62
1.69
1.87
3.05

.99
.49
.41
.08
.09
.09
.17
.10
.06
.15
.21

.71
.30
.34
.04
.04
.04
.07
.03
.04
.12
.09

.27
.19
.07
.03
.04
.04
.07
.05
.02
.03
.12

.01
0
.01
(*)
(*)
.01
.03
.02
(*)
.01
.01

5.44
2.79
1.88
2.49
4.67
6.59
9.06
5.82
2.01
2.24
3.54

.90
.50
.34
.09
.11
.12
.23
.17
.05
.16
.17

.60
.30
.24
.04
.04
.05
.08
.06
.02
.11
.06

.29
.19
.08
.05
.05
.06
.10
.07
.02
.04
.10

.02
.01
.01

.01

5.74
2.52
2.11
2.88
5.69
7.21
12.02
7.22
3.22
3.10
3.80

.79
.46
.25
.06
.10
.13
.28
.22
.04
.23
.14

.56
.30
.18
.03
.04
.07
.13
.10
.02
.16
.06

.21
.14
.06
.03
.05
.06
.11
.08
.02
.06
.06

.02
.01
.01
(*)
.01
.01
.05
.04
.01
.01
.01

31.47

3.05

1.22

1.61

.21

35.18

2.87

1.15

1.53

.20

39.29

2.70

1.21

1.29

.20

4.80
1.05
3.11
8.12
10.77
1.31
2.32

.30
.04
.48
.97
1.18
.04
.03

.10
.01
.17
.37
.53
.02
.02

.17
.03
.30
.55
.53
.02
.01

.02
(*)
.01
.06
.12
(*)
0

5.12
1.26
3.60
8.14
12.69
1.65
2.72

.,26
.04
.43
.93
1.12
.06
.03

.09
.02
.15
.34
.50
.04
.01

.16
.03
.25
.54
.53
.02
.01

.02
(*)
.03
.05
.08
.01
(*)

5.97
1.38
3.99
8.46
13.95
2.10
3.43

.34
.04
.29
.73
1.20
.07
.04

.13
.02
.13
.31
.56
.05
.01

.18
.02
.14
.37
.54
.01
.02

.03
(*)
.02
.05
.09
(*)
.01

111.50

2.40

1.48

.76

.16

128.87

2.68

1.65

.83

.20

151.52

3.14

1.65

1.24

.24

7.44
8.89
2.87
1.16
4.86
22.37
18.75
3.62
49.30
23.51

.23
.11
.05
.01
.05
1.81
1.76
.04
.21
.04

.11
.04
.02
.01
.02
1.18
1.17
.02
.11
.03

.09
.06
.02

.03
.01
(*)
(*)
.01
.09
.09
(*)
.03
(*)

9.24
9.40
3.03
2.17
4.20
26.79
22.23
4.56
56.54
26.90

.25
.09
.04
.01
.04
2.16
2.13
.03
.15
.03

.09
.03
.01
.01
.02
1.43
1.42
.01
.07
.02

.10
.05
.03
(*)
.02
.61
.59
.02
.05
.01

.06
.01
(*)
(*)
(*)
.11
.11
(*)
.02
(*)

10.21
10.68
3.48
3.09
4.10
29.95
24.63
5.32
68.66
32.02

.42
.11
.04
.02
.05
2.39
2.35
.04
.19
.04

.12
.04
.01
.01
.02
1.37
1.36
.01
.09
.03

.24
.06
.03
(*)
.03
.86
.84
.02
.07
.01

.05
.01
(*)
(*)
.01
.15
.15
(*)
.03
(*)

<*);03

.53
.51
.03
.07
.01

<?«
.01
.04
.04

(

?oi

.32

SURVEY OF CURRENT BUSINESS

June 1981

21

Table 1.—New Plant and Equipment Expenditures by U.S. Nonfarm Business: Total and for Pollution Abatement—Continued

[Billions of dollars]
1979

1980

Pollution abatement
Total i

Total nonfarm business
Manufacturing

.- -

-

Durable goods
Primary metals 3
Blast furnaces, steel works
Nonferrous metals
Fabricated metals
Electrical machinery
Machinery except electrical
Transportation equipment 3 .
Motor vehicles
- Aircraft
.
.
Stone clay and glass
Other durables *
Nondurable goods

_

._

Food including beverage
Textiles
Paper
Chemicals
Petroleum
Rubber
Other nondurables 5 -

.

_ . _

_

- -

-

Nonmanufacturing..
Mining
Transportation
Railroad
Air
Other
Public utilities
Electric
Gas and other
Trade and services
Communication and other 8-

-

_

Total

Air

Pollution abatement

Water

Solid
waste

Total i

Total

Air

Pollution abatement

Water

Solid
waste

Total i

Total

Air

Water

Solid
waste

270. 46

8.42

4.50

3.21

0.71

295.63

9.20

5.07

3.28

0.85

325.72

10.00

5.57

3.45

0.98

98.68

4.82

2.55

1.84

.43

115.81

5.52

2.88

2.09

.55

129.85

6.34

3.26

2.44

.64

51.07

2.00

1.21

.65

.14

58.91

2.27

1.42

.69

.15

66.47

2.48

1.47

.80

.22

6.76
3.09
2.39
3.05
7.28
10.52
15.32
8.30
5.27
3.94
4.22

.92
.62
.21
.07
.11
.14
.41
.31
.07
.21
.15

.64
.43
.14
.03
.05
.07
.19
.15
.03
.17
.08

.26
.19
.06
.04
.06
.06
.16
.11
.03
.03
.05

.02
.01
.01
(*)
.01
.01
.06
.05
.01
.01
.01

7.71
3.29
3.11
2.96
9.59
11.59
18.16
9.06
7.03
3.82
5.09

.98
.61
.27
.07
.16
.15
.52
.39
.10
.25
.14

.67
.41
.17
.02
.07
.07
.31
.25
.04
.21
.07

.26
.19
.07
.03
.06
.07
.17
.12
.04
.03
.06

.04
.01
.03
.01
.02
.01
.04
.02
.02
.01
.01

8.20
3.27
3.59
3.25
12.05
13.98
19.18
9.10
7.62
3.90
5.91

1.11
.66
.36
.08
.23
.19
.44
.30
.12
.26
.17

.76
.46
.23
.03
.11
.09
.19
.13
.05
.21
.09

.28
19
.08
.05
.09
.08
.20
.13
.05
.04
.06

.07
.02
.05
.01
.03
.01
.07
.03
.02
.02
.02

47.61

2.82

1.34

1.19

.29

56.90

3.25

1.46

1.40

.40

63.38

3.86

1.80

1.64

.43

6.62
1.50
5.55
10.78
16.21
2.17
4.78

.27
.06
.40
.63
1.38
.05
.04

.08
.03
.18
.29
.72
.04
.01

.16
.02
.18
.28
.53
.01
.01

.03
(*)
.05
.06
.13
.01
.02

7.39
1.62
6.80
12.60
20.69
1.73
6.08

.27
.07
.39
.73
1.71
.03
.04

.08
.05
.16
.32
.83
.02
.01

.18
.02
.16
.32
.69
.01
.02

.02
C)
.07
.10
.19
.01
.01

7.92
1.72
6.73
13.11
25.17
2.30
6.43

.30
.08
.43
.81
2.15
.06
.05

.10
.05
.18
.36
1.06
.03
.02

.16
.03
.17
.34
.91
.02
.01

.03
(*)
.08
.11
.18
.01
.01

171.77

3.60

1.95

1.36

.29

179.81

3.69

2.19

1.20

.30

195.87

3.66

2.31

1.01

11.38
12.35
4.03
4.01
4.31
33.96
27.65
6.31
79.26
34.83

.51
.10
.03
.01
.05
2.75
2.70
.05
.19
.04

.15
.04
.01
.01
.02
1.65
1.63
.02
.09
.02

.27
.05
.02
(*)
.02
.97
.94
.03
.06
.02

.10
.01
(*)
(*)
.01
.13
.13
.01
.04
.01

13.51
12.09
4.25
4.01
3.82
35.44
28.12
7.32
81.79
36.99

.48
.11
.04
.01
.07
2.88
2.82
.07
.17
.04

.17
.05
.01
(*)
.03
1.86
1.82
.04
.09
.03

.22
.06
.03
(*)
.03
.88
.86
.02
.04
.01

.10
.01

15.87
12.87
4.40
4.11
4.36
38.27
30.24
8.03
86.93
41.93

.49
.13
.05
.01
.06
2.81
2.74
.07
.19
.04

.20
.05
.01
.01
.03
1.92
1.86
.05
.11
.03

.21
.06
.03
(*)
.03
.69
.68
.02
.03
.01

*Less than $5 million.
1. Consists of final estimates taken from the quarterly surveys of total new plant and
equipment and, for 1981, plans based on the 1980 fourth-quarter survey taken in late January
and February 1981.
2. The 1973 BE A survey did not cover solid waste disposal; estimates of 1973 solid waste
expenditures are based on analysis of trends in sample data obtained after 1973.

increase to $10.0 billion in 1981 (table
1). These results are based on a survey
in November and December 1980. The
proportion of total plant and equipment spending allocated to PA remained at 3.1 percent in 1980; plans for
1981 show no change.
In 1980, shares of PA capital spending for air, water, and solid waste were
55 percent, 36 percent, and 9 percent,
respectively. In 1981, plans indicate a
small increase in the percentages for air
and solid waste, and a small decrease—
the fourth consecutive one—in the percentage for water.
Air and water pollution abatement is
achieved in two ways—by end-of-line
methods and changes-in-productionprocess methods. The former involve
the separation, treatment, or reuse of
pollutants after they are generated
but before they are emitted from a com


Planned 1981

(*)
0

.01
.15
.14
(*)
.04
(*)

.34
.08
.01
(*)

".01
.20
.20
(*)
.04
.01

3. Includes industries not shown separately.
4. Consists of lumber, furniture, instruments, and miscellaneous.
5. Consists of apparel, tobacco, leather, and printing-publishing.
6. Consists of communication; construction; social services and membership organizations; and forestry, fisheries, and agricultural services.

pany's property. In 1980, businesses lion. Increases by most other industries
allocated 81 percent of capital spending were small; several industries reported
for air and water PA to end-of-line small decreases. Plans for 1981 indicate
methods; in 1981, they plan to allocate the same all-industry increase as in
82 percent (table 2). Alternatively, 1980. Petroleum plans to increase
production processes may be modified spending $0.4 billion; nonferrous
or new processes substituted to reduce or metals, electrical machinery, and chemieliminate the generation of pollutants. cals each plan increases of about $0.1
Changes-in-production-process methods billion. Petroleum's large increases do
entail spending for both PA and other not reflect significant increases in the
purposes, such as the reduction of pro- allocation of capital to PA; the production costs, but survey respondents portion of total plant and equipment
are asked to report only the part of spending that is for PA decreased in
spending that is for pollution abate- 1980 and, for 1981, plans indicate only
ment. Table 3 shows changes-in-produc- a slight increase.
tion-process spending by major indusSpending for PA capital in 1980 fell
try groups.
$0.4 billion short of that indicated by
PA capital spending increased $0.8 plans one year earlier. Air PA spending
billion in 1980. Petroleum increased fell short $0.3 billion and water PA
spending about $0.3 billion; electric spending, $0.1 billion. Most of the total
utilities, chemicals, and motor vehicles shortfall was by industries producing
each increased spending about $0.1 bil- durable goods.

SURVEY OF CURRENT BUSINESS

22

June 1981

Table 2.—'New Plant and Equipment Expenditures for Air and
[Billions
1974

1973

1975

1976

Line
Total
1

Air

Water

Total

Water

Air

Total

Air

Water

Total

Water

Air

3.56

2.27

1.29

4.21

2.69

1.52

5.33

3.30

2 03

5 47

3 18

2 29

2

Manufacturing

2.31

1.46

.85

2.91

1.77

1.14

3.86

2.25

1.61

3 59

1 90

1 69

3

Durable goods..

1.12

.83

.29

1.26

.91

.35

1.53

1.08

.46

1.46

.94

.52

.53
.14
.32
.07
.08
.06
.17
.12
.03
.10
.12

.46
.10
.30
.04
.03
.03
.10
.07
.02
.09
.08

.06
.04
.02
.03
.05
.03
.07
.05
.01
.01
.04

.58
.20
.33
.07
.09
.06
.14
.10
.03
.16
.15

.46
.13
.28
.05
.05
03
.08
.06
.02
.15
.09

.12
.07
.04
.02
.05
.03
.06
.04
.01
.01
.06

.85
.40
.40
.09
.07
.07
.13
.08
.04
.16
.16

.65
.26
.34
.05
.05
.04
.07
.04
.03
.14
.08

.20
.14
.06
.04
.03
.04
.06
.04
.01
.02
.08

.84
.42
.37
.07
.07
.07
.12
.07
.05
.13
.16

.60
.24
.31
.04
.03
04
.06
.03
.03
.10
.07

.24
.17
06
.03
.04
03
.06
.04
02
.03
.09

1.19

.62

.57

1.65

.87

.78

2.32

1.17

1.15

2.13

.96

1.17

.16
.03
.28
.29
.38
.03
.02

.06
.01
.16
.12
.25
.02
.01

.10
.02
.12
.18
.13
.02
.01

.17
.04
.36
.43
.57
.04
.04

.06
.02
.24
.18
.31
.03
.03

.12
.02
.12
.24
.25
.02
.01

.20
.04
.46
.63
.92
.04
.04

.07
.02
.25
.24
.55
.02
.02

.14
.02
.21
.38
.37
.02
.02

.21
.04
.41
.67
.74
.04
.02

07
.01
.14
.28
.41
.02
.01

14
.03
.27
.39
.33
.02
.01

1.26

.82

.44

1.30

.92

.38

1.48

1.05

.42

1.88

1.28

.60

.10
.04
.02
.01
.01
.91
.89
.02
.15
.06

.04
.01
(*)
.01
(*)
62
.61
.01
.09
.05

.06
02
.01
(*)
01
.29
.28
.01
.06
(*)

.11
.07
.02
.01
.03
.96
.94
.03
.11
.04

.06
.03
.01
(*)
.01
.71
.70
.02
.08
.04

.04
.04
.01
(*)
.02
.25
.24
.01
.04
.01

.09
.07
.03
.01
.03
1.13
1.11
.02
.14
.05

.05
.03
.01
(*)
.01
.85
.84
.01
.10
.04

.04
.04
.02
(*)
.02
.28
.27
.01
.05
.02

.14
.08
.03
.01
.04
1.48
1.46
.02
.14
.03

.09
.03
.01
.01
.01
1.05
1.04
.01
.09
.02

.05
05
.02
(*)
.03
.43
.42
.01
.06
.01

4
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
33

Total itonfarm business

Primary metals 2
.._
Blast furnaces, steel works
Nonferrous metals
Fabricated metals
.
_
Electrical machinery
Machinery, except electrical2
Transportation equipment
Motor vehicles
Aircraft
Stone, clay, and3 glass
Other durables
.

_.

Nondurable goods
Food including beverage
Textiles
Paper
Chem icals
Petroleum
Rubber
Other nondurables 4
. . .

_

Nonnianufacturing
Mining
Transportation
Railroad
Air
Other
Public utilities
Electric
Gas and other
Trade and services
Communication and other 5

-. -.

"Less than $5 million.
1. End-of-line methods involve the separation, treatment, or reuse of pollutants after they
are generated but before they are emitted from the firm's property. Changes-in-production-

process estimates for air and water pollution abatement can be derived by subtracting estimates in this table from those in table 1.
2. Includes industries not shown separately.

Plans for 1981 indicate a decrease of other industries are included for the
first time—real estate; professional
Prices of PA capital goods as meas- 1 percent in real spending if prices inservices; social services and memberured by the implicit price deflator in- crease at the same rate as in 1980. Air
ship organizations; and forestry, fishcreased 10 percent in 1980, about the PA is indicated to decrease 1 percent in
eries, and agricultural services. Several
same as in 1979 (table 4). Prices in- 1981, water PA to decrease 3 percent,
statistical improvements are made:
creased 11 percent for air PA capital, and solid waste to increase 2 percent. Company reports received too late for
8 percent for water PA, and 12 percent
use in previously published estimates
The size and significance of revisions
for disposal of solid waste.3
are incorporated; company reports are
After adjustment for price change,
Revised estimates of PA capital reclassified by industry and size of comspending for PA capital decreased 1 spending incorporate coverage and sta- pany to reflect diversification, specialipercent in 1980, compared with a 1-per- tistical improvements. The coverage of zation, expansion, or contraction over
cent increase in 1979. Real spending for certain industries is broadened and time; sample data are reedited to make
air PA increased 2 percent in 1980,
water PA decreased 5 percent, and solid
waste disposal increased 8 percent. The Table 3.—New Plant and Equipment Expenditures for Air and Water Pollution Abatement
by Changes-in-Production Process Methods
increase for air PA was substantially
[Billions of dollars]
less than that indicated by plans one
year earlier.
1973
Planned
1980
1974
1975
1976
1977
1979
1978
Price change and real spending

1981

3. For discussion of price information upon
which these estimates are based, see Gary L.
Rutledge and Betsy D. O'Connor, "Capital Expenditures by Business for Pollution Abatement,
1978, 1979, and Planned 1980," SURVEY 60 (June
1980) : 19-22. Differences between the deflators
shown in that article and those shown here are
largely due to the revision of current-dollar estimates of PA capital spending, which affects weights
with which price information is combined.



Total nonfarm buiness .

1.05

1.09

1.24

1.31

1.34

1 42

1.59

1.55

1.63

Manufacturing
Durables
Nondurables

.61
.27
.35

58
27
.32

.83
.27
.56

95
.25
.71

.88
.28
.60

83
.31
.52

.92
.40
.52

.94
.46
.48

1.00
.43
.57

Nonmanufacturing
Electric utilities
Other nonmanufacturing

.43
.33
.11

.51
41
.10

.41
.28
.13

.36
22
.14

.46
.34
.12

.59
43
.15

.66
.53
.14

.61
.45
.16

.63
.43
.20

1. Changes-in-production-prqcess methods involve the modification of existing production processes or the substitution
of new processes to reduce or eliminate the pollutants generated.

SUEVEY OF CURRENT BUSINESS

June 1981

23

Water Pollution Abatement by End-of-Line Methods 1
of dollars]

Total

Air

1979

1978

1977

Water

Total

Water

Air

Total

1980

Water

Air

Total

Planned 1981
Water

Air

Total

Air

Line
Water

5.50

3.07

2.43

5.60

3.03

2.56

6.12

3.55

2.57

6.80

4.18

2.62

7.39

4.60

2.80

1

3.48

1.69

1.79

3.29

1.73

1.56

3.47

2.01

1.46

4.03

2.32

1.71

4.70

2.68

2.02

2

1.40

.83

.57

1.32

.84

.47

1.47

.95

.51

1.65

1.10

.55

1.83

1.18

.65

3

.75
.42
.29
.07
.08
.10
.12
.08
.04
.14
.14

.51
.25
.23
.03
.04
.05
.05
.03
.02
.10
.06

.24
.17
.06
.04
.04
.06
.07
.05
.02
.04
.09

.64
.37
.20
.05
.07
.11
.14
.10
.03
.20
.11

.46
.24
.16
.02
.03
.06
.07
.05
.01
.15
.06

.18
.13
.04
.03
.04
.05
.07
.05
.01
.05
.05

.78
.57
.15
.04
.07
.10
.20
.14
.04
.17
.11

.55
.39
.11
.02
.03
.04
.10
.08
.02
.14
.07

.23
.18
.04
.02
.04
.05
.10
.06
.02
.02
.04

.81
.56
.18
.04
.09
.11
.31
.25
.05
.19
.10

.57
.38
.14
.02
.05
.05
.19
.16
.03
.16
.05

.24
.18
.05
.03
.04
.06
.12
.09
.02
.03
.05

.90
.59
.26
.06
.15
.13
.29
.21
.07
.19
.11

.65
.41
.20
.02
.09
.06
.14
.10
.03
.16
.07

.25
.18
.06
.04
.07
.07
.15
.11
.03
.04
.04

4
5
6
7
8
9
10
11
12
13
14

2.08

.86

1.22

1.97

.89

1.09

2.01

1.06

.95

2.37

1.21

1.16

2.87

1.50

1.37

15

.20
.04
.34
.71
.73
.04
.02

.06
.01
.13
.27
.35
.03
.01

.14
.03
.21
.44
.38
.01
.01

.23
.02
.21
.57
.85
.06
.03

.08
.01
.10
.25
.40
.04
.01

.15
.01
.11
.32
.46
.01
.02

.16
.03
.28
.47
1.01
.04
.02

.04
.01
.15
.23
.57
.03
.01

.12
.02
.12
.23
.43
.01
.01

.17
.03
.26
.54
1.32
.02
.03

.04
.01
.12
.27
.74
.01
.01

.13
.02
.14
.27
.58
.01
.02

.19
.05
.29
.61
1.67
.04
.03

.06
.02
.14
.30
.93
.02
.02

.13
.03
.14
.31
.74
.02
.01

16
17
18
19
20
21
22

2.02

1.38

.64

2.31

1.30

1.01

2.65

1.54

1.11

2.78

1.86

.91

2.69

1.92

.77

23

.15
.07
.03
.01
.03
1.6P
1.67
.01
.09
.02

.07
.03
.01
.01
.01
1.21
1.21
.01
.05
.02

.07
.05
.03

.30
.07
.03
.01
.02
1.79
1.77
.02
.11
.03

.10
.03
.01
.01
.01
1.10
1.09
.01
.06
.02

.21
.04
.03

.38
.06
.03

.13
.02
.01
(*)
.01
1.32
1.31
.01
.06
.01

.25
.04
.02
0
.02
.75
.73
.02
.05
.02

.34
.08
.03

.15
.03
.01
(*)
.02
1.61
1.60
.01
.05
.02

.20
.04
.03
0
.02
.64
.63
.01
.03
.01

.36
.09
.05

.18
.04
.01
(*)
.02
1.63
1.61
.02
.06
.02

.18
.05
.03
0
.02
.51
.50
.01
.02
.01

24
25
26
27
28
29
30
31
32
33

(*)

.02
.48
.47
.01
.04

(*)

(*)

.02
.69
.68
.01
.06
.01

3. Consists of lumber, furniture, instruments, and miscellaneous.
4. Consists of apparel, tobacco, leather, and printing-publishing.

each industry as representative of the
universe as possible; and sample data
and revised estimates of total new plant
and equipment spending are used to reestimate universe spending for PA.
(See Technical Note 2 for discussion of
the coverage and statistical revisions.)
Estimates of PA spending, after these
improvements, are consistent with revised estimates of total new plant and
equipment spending published in October 1980.4
Revisions in PA capital spending at
the all-industry level are relatively
small for 1974, large for 1979, and moderate for other years. All of the revisions are upward, except for 1973
(tables 5 and 6). Revisions due to coverage improvements are in nonmanufacturing, and are small except in 1978
and 1979 for electric utilities. Revisions
due to statistical improvements account
4. For details, see George R. Green and Marie
P. Hertzberg, "Revised Estimates of New Plant
and Equipment Expenditures in the United States,
1947-77," SURVEY 60 (October 1980) : 24-59.




(*)

.03
2.07
2.05
.02
.12
.03

(*)

.04
2.25
2.23
.02
.08
.03

(*)

.04
2.14
2.11
.03
.08
.02

5. Consists of communication; construction; social services and membership organizations;
and forestry, fisheries, and agricultural services.

for the largest share of the total revision, except in 1974, and occur in every
major industry category.
Actual spending, 1973-79.—For every
year except 1977, the revised estimates
of PA capital spending show a larger

annual increase than the previously
published estimates. The revised average annual increase for 1973-79 is 9 percent, compared with 5 percent previously. In dollar terms, the increase is $1.6
billion more than previously, about $1.1

Table 4.—New Plant and Equipment Expenditures for Pollution Abatement in Current and
Constant Dollars With Implicit Price Deflators
1973

1974

1975

1976

1977

1978

1979

1980

Planned
1981

Billions of dollars
Total
Air ..
Water
Solid waste

4.92

2.92
1.69
.31

5.70
3.37
1.93
.40

6.97
4.02
2.56
.39

7.23
3.81
2.97
.45

7.34
3.80
3.04
.50

7.58
3.91
3.11
.56

8.42
4.50
3.21
.71

9.20
5.07
3.28
.85

10.00
5.57
3.45
.98

4.69
2.50
1.81
.38

'4.66
2.54
1.72
.41

24.60

179.6
180.2
177.3
186.3

U97.5
200.0

2 217. 4

Billions of constant (1972) dollars
Total
Air
Water
Solid waste

4.67
2.79
1.58
.30

4.68
2.74
1.60
.34

5.16
2.93
1.95
.29

5.09
2.64
2.14
.32

4.83
2.46
2.05
.33

4.64
2.38
1.93
.33

2.51
1.67
.42

Implicit price deflators, 1972=100
Total
Air
Water
Solid waste

105.5
105.0
106.5
104.4

121.8
122.6
121.0
119.2

135.0
137.4
131.4
134.8

142.0
144.5
139.0
141.6

151.8
154.6
148.4
152.9

1. The implicit price deflators for 1980 are based on preliminary source data.
2. Price changes for 1981 are assumed to be the same as in 1980.

163.3
164.5
161.1
167.9

191.2

208.8

222.0
206.2
234.0

SURVEY OF CURRENT BUSINESS

24

June 1981

decreases through 1978 in both revised
and previously published series. The
[Billions of dollars]
1973-79 average share for air (55 perRevised P&E
Revisions
cent) is slightly smaller than previPreviously
for PA
published
for
total
P&E for PA
ously, for water (38 percent) is slightly
Year
nonfarm
for "all
Coverage »
Statistical
Total
business
industries"
larger, and for solid waste (7 percent)
is about the same.
0.06
4.92
-0.38
-0.32
5.24
1973
As in current dollars, percentage
5.70
1974
.07
.01
.08
5.62
.06
.42
6.97
.35
6.55
1975
7.23 changes in revised real spending are
.47
.07
.40
6.76
1976
7.34
1977
.18
.22
.40
6.94
larger than previously indicated, except
.24
.42
.65
7.58
6.92
1978
.41
8.42
1.28
.87
7.14
1979
for 1977. For 1973-79, the average an1. Consists of estimates for previously omitted portions of industries and for real estate; professional services; social serv- nual increase is less than 0.1 percent,
ices and membership organizations; and forestry, fisheries, and agricultural services.
compared with an average annual decrease of 4 percent previously indicated.
However,
several trends are the same.
5
billion for manufacturing and $0.5 bil- decrease steadily through 1979. The relion for nonmanufacturing. (See Tech- vised proportions are less than those Capital spending for air PA, after increasing in 1975, decreases through 1978
nical Note 3 for a comparison of esti- previously published because coverage
improvements added little to PA capi- for both series, and capital spending
mates for manufacturing.)
for water PA peaks in 1976 and deOn the revised basis, the proportion tal spending but substantially to total
creases thereafter.
of plant and equipment spending allo- plant and equipment spending, and bePlanned spending, 1974,-$0.—Esticause
statistical
improvements
incated to PA is less than, but follows a
creased the weights for industries with mates of planned PA capital spending
trend similar to that, in the previously
small proportions of PA.
were revised in the same way as estipublished series (table 7). The proporThe revised and previously published mates of actual spending. As for estition peaks in 1975 and then decreases,
shares of capital spending for air PA, mates of actual spending, the revised
largely reflecting trends for air and
water PA, and solid waste disposal are planned levels of spending and percent
water PA. Air and water PA peak in
roughly similar. For example, the air changes in them are generally larger
1975 and 1976, respectively, and then
share is largest in 1973 and generally than those previously published.
Estimates of planned PA capital
5. For an analysis of the relationship between
trends in air and water PA proportions and reguditures by Business for Pollution Abatement, 1973spending are reasonably accurate indilatory deadlines, see Gary L. Rutledge, Frederick
77 and Planned 1978," SURVEY 58 (June 1978,
cators of actual spending, as indicated
J. Dreiling, and Betsy C. Dunlap, "Capital Expenpart I) : 33-38.
Table 5.—Reconciliation: Previously Published and Revised New Plant and Equipment
(P&E) Expenditures for Pollution Abatement (PA)

Table 6.—Sources of Revisions of New Plant and Equipment Expenditures: Total and for Pollution Abatement (PA)
[Billions of dollars]
197 3

Total
Total nonfarm business

19'F4
PA

Total

19'J5

Total

PA

19'n

195'6

Total

PA

Total

PA

19'rs

Total

PA

19 79

Total

PA

PA

37.95

—0.32

44.58

0 08

44 93

0 42

50 95

0 47

62 28

0 40

77 42

0 65

93 37

1 28

26.31
11 65

.06
—.38

28.04

07
01

29.33
15 60

.06
35

30.76

07
40

35 83
26 45

.18
22

41 62
35 80

24
42

46 30
47 07

41
87

4 35
1.49
2 87

—.21
0
— 21

7.20
1.63
5 57

08

6 97
1.32
5 65

o 45

7 46
1 52
5 94

45

08

9 06
2 24
6 82

o 38

12 10
2 60
9 49

o 49

19 76
2 91
16 85

o 85

Durables
Coverage
Statistical

3.49
1.49
2.00

—.19
0
—.19

4.82
1.63
3.19

— 03
0
-.03

4 48
1 32
3.17

12

12
12

8 77
2 60
6 17

17

22

6 27
2 24
4 03

o

17

12 84
2 91
9 93

Nondurables
Coverage
Statistical

.86

— 02

2 38

11

.86

—.02

2.38

11

Nonmanufacturing
Coverage
Statistical

33.60

24 82
8.78

-.11
.06
—.17

37.38

Electric utilities
Coverage
Statistical

—.94
79
—1.73

—.21
02
—.23

—.99
1 13
—2.12

34 54
24 03
10.52

11
.04
.06

38 37
25 28
13.09

Coverage J
Statistical
Manufacturing
Coverage
Statistical

_
.. .- .

All other
Coverage
Statistical

16.54

26.41
10 97

0

45

20 20

o

45
22

38

49

85
42

.12

4 80
1 52
3 28

2 48

33

2 67

23

2 79

26

3 32

31

6 92

43

2 48

.33

2 67

23

2 79

26

3 32

31

6 92

.43

37.96

28 01
9 95

—.03
06
—.10

43.49

29 23
14 26

.02
07
— 05

53 22
33 59
19 63

.03
18
— 15

65 33
39 02
26 31

.16
24
— 07

43 39
30 22

73.60

.43
41
02

—.15
03
—.18

-.35
1 81
—2 16

—.18
03
—.21

-.05
2 27
—2 32

— 23
04
— 26

.64
3 34
—2 69

—.14
15
— 29

— 16
3 24
—3 40

—.12
20
— 33

.15
3 44
—3 29

—.02
37
-.38

15
04
11

38 31
26 20
12 11

15
04
.11

43 54
26 96
16 57

24
03
22

52 58
30 25
22 33

17
03
14

65 49
35 78
29 71

29
03
26

73 45
39 95
33 50

44
.04
.41

(*)

07
—.07

o

o

o

o

.42

*Less than $5 million.
1. Consists of estimates for previously omitted portions of industries and for real estate; professional services; social services and membership organizations; and forestry, fisheries, and agricultural services.




SURVEY OF CURRENT BUSINESS

June 1981
Table 7.—Pollution Abatement as a Percentage of Total New Plant and Equipment
Expenditures
Year
1973
1974
1975
1976
1977
1978
1979

.

Revised

Previously
published

3.6
3.6
4.4
4.2
3.7
3.3
3.1

5.2
5.0
5.8
5.6
5.1
4.5
4.1

.._

by planned spending as a percentage of
actual spending (tables 8 and 9). Except for 1979, the percentages on a revised basis are roughly similar to those
on a previously published basis. The
mean absolute percentage deviation between actual and planned spending for
1974-79 on a revised basis is 7.5 percent,
compared with 8.4 percent previously.

The BEA plant and equipment survey collects quarterly data on nonfarm business investment and related series four times each
year. Additional annual data are obtained in
a fifth survey collected in November and December. This fifth survey, often referred to as
the annual survey, includes questions on
spending for air and water PA and solid
waste disposal. BEA sends the annual survey
to about 13,000 companies, about 2,000 less
than for the quarterly surveys, and the response rates for the annual survey is lower.6
However, for industries where spending for
PA is concentrated, the sample represents a
large percentage of total universe spending.

Table 10.—Ratios of BEA Estimates to
Census Bureau Estimates for Manufacturing
Year

Previously
published

1973
1974
1975
1976.
1977
1978
1979.

Revised

1 41
1 18
1.23
1 24
1 22
1.19
1 10

1 32
1 21
1 35
1 37
1 32
1 34
L34

spending series is relatively short, bias correction factors from the total plant and equipment spending estimates are used to adjust
PA spending.8 For example, if total planned
plant and equipment spending for an industry
is decreased by 1 percent to remove systematic
bias, then PA spending for it is also decreased
by 1 percent.
The mean absolute percent deviation between planned and actual spending for 197480 was lowered from 9.8 percent to 7.1 percent
by use of this bias adjustment procedure. Use
of PA correction factors, on which work is in

Technical Notes
1. Survey Methodology

25

ing, the sample ratios are multiplied by the
estimates of planned plant and equipment
spending that are derived from the fourthquarter survey and published each March.7
In deriving planned PA spending, systematic bias is removed. Systematic bias is
that portion of the deviation of planned
spending from actual spending assumed to be
due to factors other than changes in economic
and operating conditions. Because the PA
7. For previously published PA estimates, the
sample ratios were applied to different total plant
and equipment data. For actual PA expenditures,
actual spending for the first three quarters and
plans for the fourth quarter were used. For planned
PA spending, data from the annual survey were
used.

(Continued on page 30)
8. For a discussion of how correction factors
are derived for the total plant and equipment
spending series, see Green and Hertzberg, "Revised
Estimates," p. 31.

Universe estimates of PA capital spending
Company reports from the annual survey
are grouped by industry and size. Sample
ratios of PA to total plant and equipment
spending are derived for each PA category
(e.g., air end-of-line) and industry size group.
To estimate actual PA spending at the universe level, the sample ratios are multiplied
by the sum of universe estimates of actual
plant and equipment spending from the quarterly surveys. To estimate planned PA spend6. For a discussion of the plant and equipment
surveys, see Green and Hertzberg, "Revised Estimates," pp. 32-33.

Table 8.—New Plant and Equipment Expenditures for Pollution Abatement:
Planned Expenditures as a Percentage of
Actual Expenditures
Year
1974
1975
1976
1977
1978
1979
1980

Previously
published

....




123 6
96.1
108.6
108 2
103.3
102.8

Revised
120 6
96 1
105.3
108 8
103 8
97.2
104 8

Table 9.—New Plant and Equipment Expenditures for Pollution Abatement: Planned
Expenditures as a Percentage of Actual Expenditures, by Industry
Total
nonfarm
business
1974: Total
Air. .
Water
Solid waste
1975: Total
Air
Water
Solid waste
1976: Total
Air
Water
Solid waste
1977: Total
AirWater
Solid waste
1978: Total
Air
Water
Solid waste
1979: Total
Air
Water
Solid waste
1980' Total
Air
Water
Solid waste

.. .

Manufacturing
Total

Durables

Nonmanufacturing
Non

durables

Total

Electric
utilities

All other

120.6
124.2
119.6
94.1

123.8
129.1
123.1
81.3

125.6
129.8
123.6
83.6

122.5
128.5
122.9
80.0

114.3
115.4
112.0
114.9

108.5
110.6
100.6
124.5

130.2
132.1
137.1
103.3

96.1
97.8
92.9
99.4

91.3
92.3
89.6
92.0

99.7
98.3
105.3
85.9

86.0
87.1
83.8
95.6

107.7
109.4
103.4
110.7

102.0
104.3
89.8
132.8

122.4
128.4
126.7
88.6

105.3
103.7
107.5
104.4

100.6
99.5
103.4
88.2

105.5
103.3
109.3
108.7

97.8
96.0
101.3
81.3

114.8
110.5
119.1
133.6

117.5
115.9
119.7
125.9

107.3
90.1
118.0
142.4

108.8
105.1
112.2
115.9

110.8
109.3
113.1
104.8

116.9
111.2
127.8
98.7

107.1
107.7
106.5
107.9

105.3
99.7
109.8
132.1

104.7
99.3
112.4
131.2

107.7
102.2
103.1
133.3

103.8
102.2
103.3
117.7

105.2
97.0
113.3
115.8

113.3
101.0
135.7
113.5

100.0
93.6
103.3
117.1

101.8
109.2
88.4
120.2

105.3
112.8
94.1
99.7

91.4
92.2
76.6
151.4

97.2
95.6
100.9
90.5

100.1
98.2
104.0
95.0

102.2
98.1
106.9
117.0

98.6
98.3
102.3
84.6

93.3
92.2
96.9
83.7

94.1
93.5
94.0
103.0

90.8
85.2
103.4
67.9

104.8
106.4
103.7
99.6

108.2
109.7
107.2
104.3

119.6
114.3
128.2
130.5

100.3
105.2
96.9
94.4

99.7
102.1
97.4
91.1

93.4
97.9
87.8
70.6

119.9
122.5
121.8
109.5

1. Planned expenditures are corrected for systematic biases. Procedures for bias correction are described in the technical
notes.

By JOHN T. WOODWARD

Plant and Eppment Expenditures, the Four Quarters of 1981
|EW plant and equipment expendiNi
tures planned by U.S. nonf arm business
for 1981 total $320.5 billion, 8.4 percent
more than in 1980, according to the
BEA survey conducted in late April
and May (table 1 and chart 5).1 Spending in 1980 was $295.6 billion, 9.3 percent more than in 1979.
The planned spending increase for
1981 reported in the latest survey is 1.8
percentage points lower than that reported in March. The downward revision is in both manufacturing and nonmanufacturing industries. In manufacturing, the largest percentage downward revisions are in the machinery,
fabricated metals, aircraft, stone-clayglass, textiles, and rubber industries. In
nonmanufacturing, the largest percentage downward revisions are in the air
and "other" transportation industries.
Sizable upward revisions occurred in
several manufacturing industries—nonferrous metals, food-beverage, and
petroleum; in nonmanufacturing, upward revisions occurred in mining and
gas utilities.
Respondents to the quarterly survey
are not asked to report information on
price changes reflected in actual or
planned spending. Therefore, it is possible to make only rough estimates of
real spending plans using price series
from another source. An implicit price
deflator, a chain price index, and a fixedweighted price index are prepared for
the fixed nonresidential investment component of the national income and product accounts. These measures, which
differ as to the weights used, have shown
1. Plans have been adjusted for biases (table 6,
footnote 1). The adjustments were made for each
industry. Before adjustment, plans for 1981 were
$130.87 billion for manufacturing and $185.85
billion for nonmanufacturing. The net effect of
the adjustments was to lower manufacturing $2.98
billion and to raise nonmanufacturing $6.78 billion.

26



somewhat different movements in recent
quarters (see table 8.1 and the accompanying note in the "National Income
and Product Tables"). Smaller increases in the implicit price deflator
than in the price indexes in most of the
recent quarters suggest that the mix of
expenditures for plant and equipment
has been shifting toward goods the
prices of which have increased at relatively low rates since the base year
(1972).
If the latest spending plans reported
by business reflect continued shifts to
relatively lower priced items and price
increases similar to those registered in
the second half of 1980, then the survey
results imply an increase in real spending of about 1 percent for 1981. If, however, the plans incorporate no further
shifts in the mix of expenditures and/
or larger price increases, then the plans
could imply no increase or a decline in
real spending. In 1980, real spending increased 0.2 percent.
Capital spending in the first quarter
of 1981 increased 4.2 percent to a seasonally adjusted annual rate of $312.2 billion, following a 1.1-percent increase in
the fourth quarter of 1980. The firstquarter increase was in both manufacturing and nonmanufacturing. Secondquarter planned spending is about the
same as actual spending in the first, with
a decline in manufacturing offsetting an
increase in nonmanufacturing. The
third-quarter planned increase of 3.5
percent is primarily in manufacturing.
In the fourth quarter, the planned increase, 3.2 percent, is in both manufacturing and nonmanufacturing, with a
larger increase in the latter.
Actual spending in the first quarter
was 0.7 percent higher than planned
spending reported in March. Planned
spending for the second quarter is 1.7

percent lower than reported in March
and planned spending for the second
half is 2.4 percent lower.
Spending for new plant increased 7
percent in the first quarter, to an annual
rate of $128.6 billion; spending for new
equipment increased 2y2 percent, to
$183.7 billion (table 2). Spending for
new plant was 41.2 percent of total capital expenditures in the first quarter and
spending for new equipment was 58.8
percent.
The investment climate remains very
uncertain. Considerable uncertainty
still exists as to the specific provisions
that will be contained in the investment
Table 1.—Expenditures for New Plant and
Equipment by U.S. Nonf arm Business:
Percent Change From Preceding Year

1980
Actual

1981 Planned
as reported by
business in:
Jan.Feb.

Total nonfarm business
Manufacturing . _
Durable goods 1
Primary metals
Blast furnaces, steel works..
Nonferrous metals
Fabricated metals..
Electrical machinery
Machinery, except electrical _.
Transportation equipment l . .
Motor vehicles
Aircraft
Stone clay and glass
Other durables
Nondurable goods
Food including beverage
Textiles
Paper
Chemicals ..
Petroleum
Rubber
Other nondurables
Nonmanufacturing. .
Mining
Transportation
Railroad
Air
Other
Public utilities
Electric
Gas and other
Trade and services
Communication and other

9.3

Apr.May

10.2

8.4

17.4

12.1

10.4

15.3

14.1
6.4
30.4
-3.0
31.8
10.2
18.5
9.1
33.4
-3.0
20.8

12.8
6.5
-.6
15.3
9.9
25.7
20.6
5.6
.4
8.5
2.1
16.0

8.6
9.0
-2.9
20.2
1.3
15.4
12.9
3.5
6.8
-1.7
-9.2
21.4

19.5
11.7
7.6
22.6
16.8
27.6
-20.2
27.1

11.4
7.1
6.2
-1.1
4.1
21.7
32.7
5.9

12.3
13.8
-.4
-.9
.2
26.8
8
~'
7.5

4.7

8.9

7.1

18.7
-2.1
5.6
.1
-11.3
4.4
1.7
16.1
3.2
6.2

17.4
6.5
3.4
2.5
14.1
8.0
7.6
9.6
6.3
13.4

25.2
.4
3.3
-9.0
7.2
5.1
2.9
13.7
4.2
11.1

1. Includes industries not shown separately.

June 1981

incentive measures now being considered by Congress. Negative factors in
the investment climate include the exCHART 5

Plant and Equipment Expenditures
Billion $ (Ratio scale)

3001—TOTAL NONFARM BUSINESS

200
150

100
60

MANUFACTURING

50
40
30

Durables

A

20
15
15

Nondurables

i i hTTT. i i l n il M . In .In. In, L u l u i l . , . l i
TRANSPORTATION

10

8
6
5
40

PUBLIC UTILITIES

30

20
15

10

100

- TRADE AND SERVICES

80
60
50
40
30
25

30

20
15
72

74

76

78

80

Seasonally Adjusted at Annual Rates
o Planned
U.S. Department of Commerce, Bureau of Economic Analysis




27

tremely high interest rates and the
existence of excess capacity in many
manufacturing industries: The BE A
index of manufacturing capacity utilization in March was well below rates of
2 years ago, as was the proportion of
assets owned by manufacturers reporting a need for more capacity. A positive
factor is that the rate of inflation in
capital goods prices has been moderately lower in recent quarters. Changes
in any of these factors could lead to further revisions in 1981 spending plans.

Because the value of new projects
started in the first quarter exceeded expenditures, carryover of manufacturing
projects increased. At the end of March,
carryover totaled $89.4 billion, $4.3 billion higher than at the end of December.

Manufacturing Programs
Manufacturers reported a first-quarter increase in spending of 5 percent,
to a seasonally adjusted annual rate of
$124.5 billion. The increase, which was
considerably larger in nondurable
goods industries than in durables, followed increases of 2 percent in the
fourth quarter and one-half of 1 percent in the third. A decline of 2 percent
is planned for the second quarter and
increases of 7 percent and 2y2 percent
are planned for the third and fourth
quarters. The second-quarter decline
and the third-quarter increase are in
both durables and nondurables. The
fourth-quarter increase is in durables; a
small decline is planned in nondurables.
Planned spending for the year 1981,
$127.9 billion, is 10i/£> percent more than
in 1980; the actual spending increase
last year was 17^ percent. Nondurables
industries plan an increase this year of
121^ percent, and durables industries,
$1/2 percent. In nondurables, the largest
increases are in petroleum, 27 percent,
and food-beverage, 14 percent. In durables, the largest increases are in "other
durables," 211/2 percent; nonferrous
metals, 20 percent; electrical machinery, 151/2 percent; and nonelectrical
machinery, 13 percent.

CHART 6

Starts and Carryover of Investment
Projects
Billion $ (Ratio scale)
100
MANUFACTURING
80

60

40
30

20
15

10
8

Starts and carryover of projects

40 _ COMMUNICATION AND OTHER

1970

SURVEY OF CURRENT BUSINESS

81-6-5

New investment projects started by
manufacturers during the first quarter
totaled $35.4 billion (seasonally adjusted), 51/2 Percent higher than in the
fourth quarter of 1980 (table 3 and
chart 6). Sizable increases in the petroleum and chemical industries were
partly offset by declines in the paper
and stone-clay-glass industries.

.Qllilillllililiitiinl.t.liiiliiit

1970

72

74
76
78
Seasonally Adjusted

* Carry over as of end of period.
U.S. Department of Commerce, Bureau of Economic Analysis

28
Capacity utilization

SUKVEY OF CUKRENT BUSINESS

June 1981

Table 2.—Expenditures for New Plant and for New Equipment by U.S. Nonfarm Business
[Billions of dollars; quarters seasonally adjusted at annual rates]

The utilization of manufacturing
1979
1980
1981
capacity was 78 percent in March (table
1979
1980
4), unchanged from December. This
I
II
I
II
III
IV
III
IV
I
rate is 2 points above the recession
nonfarm business
270. 46 295.63 255.55 265.24 273. 15 284.30 291.89 294.36 2%. 23 299.58 312.24
trough in June and September last year Total
Plant .
105.73 117.55 102.58 104. 19 106 58 108 60 115 96 116 50 117 59 120 27 128 57
Equipment
164 73 178 08 152 97 161 04 166 56 175 70 175 93 177 86 178 64 179 32 183 67
and 6 pointvS below the 84 percent reManufacturing
98 68 115 81 90 75 94 71 100 11 106 57 111 77 115 69 116 40 118 63 124 50
corded in March 1979, before the rate
Plant
30.82 36.06 29.65 29.94 31.39 31 82 33 83 36 35 37 09 36 89
39 03
Equipment
67 86 79 76 61 10 64 77 68 71 74 76 77 94 79 35 79 31 81 74
85 47
began to slide down.
Durable goods
51 07 58 91 46 38 49 25 52 13 55 03 58 28 59 38 58 19 59 77
61 24
Although the overall rate was unPlant
14 00 16.28 12.88 13.66 14 12
16 99
16 48
16 72
15 27
16 50
14 89
Equipment- -.
37.07 42.63 33.50 35.59 38.01 40 14 41 79 42.38 41 47 44 50
44 74
changed from December, sizable
Nondurable goods.
47.61 56.90 44. 37 45.47 47.97 51.55 53.49 56.32 58 21 58 86
63.27
21 62
Plant
16 83
16 77
16 28
17 27
17 35
22 54
19 78
16 93
19 35
20 37
changes were reported by some industry
Equipment
37.12
27.60
29.19
30 78
30 70
34 62
36 14
36 96
37 24
40 73
37 83
groups. Petroleum declined 7 points, to
Non manufacturing
171 77 179 81 164 80 170 52 173 04 177 73 180 13 178 66 179 83 180 95
187 74
Plant .
74 90
72 93
74 25
81 49
75 19
82 13
80 15
80 50
76 78
83 37
89 54
73 percent, and aircraft declined 3
Equipment
98.32
96 27
96 87
91 87
97 85 100 95
99 33
98 00
98 51
98 20
97 58
points, to 77 percent. Rubber rose 5
Mining
13 51
11 23
11 01
11 38
11 40
11 86
12 81
13 86
16 20
11 89
15 28
Plant
5 36
5 75
7 75
6 36
5 85
6 52
5 38
7 11
8 20
9 01
9 98
points, to 75 percent; food-beverage
Equipment
5 63
5 76
5.65
5 55
5 37
5 70
5 66
6 22
5 85
5 51
6 27
Transportation
11.43
12.02
12.35
12.09
12.67
12.47
12.09
13 20
12 23
11.74
11 70
rose 4 points, to 79 percent; and pri2 93
2 96
Plant
2 75
2 99
2 56
2 71
2 81
3 22
3 13
2 87
2 95
Equipment
9 60
9 32
9 10
9 87
9 25
8 87
10 32
8 61
9 16
9 28
8 73
mary metals rose 2 points, to 79 percent.
Public utilities
33.96
35.44
34.02
32 40
35 05
35 03
36 26
36 05
34 96
34 08
35 58
21.61
22.62
Plant
23.00
21.70
20.56
21.41
22.55
23.01
23.64
22 66
23 10
Other major industries showed little or
12.43
Equipment
12.35
11.84
12.33
12.44
12. 67
12.62
12.92
13.04
12.48
11.86
79 26
79 03
Trade and services
81 79
76 03
82 17
82 91
78 86
82 69
81 07
83 43
81 19
no change.
31.72
Plant .
32.39
35.23
32.06
31.98
36 13
34 30
39 63
33 68
34 10
36 57
Equipment . _
46. 56
43.97
47.14
46.87
47.05
49.00
43.80
46.04
46.77
46.35
47 08
The utilization rate in March for priCommunication
and
33.71
other *
36 99
34.44
34.83
35.05
35 90
40 32
37 34
37 66
36 97
36 11
mary-processed goods industries was 78
12.41
12.52
12.52
12.37
12.19
12.46
Plant. .
12.62
13.26
12.59
13.79
11.73
22.42
21.92
23.44
26.53
Equipment
21.34
22.86
24.46
24.72
24.40
24.38
24.38
percent, unchanged from December, and
advanced-processed goods was also un1. Includes construction; social services and membership organizations; and forestry, fisheries, and agricultural services*
changed, at 78 percent.
Large firms (assets of $100 million Table 3.—Starts and Carryover of Plant and Equipment Projects, Manufacturing and
Public Utilities
and over) reported a utilization rate of
[Billions of dollars]
80 percent and medium-sizedfirms(assets of $10 million to $100 million) reStarts i
Carryover 2
ported 78 percent—both unchanged
1980
1980
1981
1981
from December. Small-sized firms re1979
1980
ported a 2-point increase, to 74 percent.
II
I
IV
I
III
Mar. June Sept. Dec. Mar.
Companies owning 30i/£ percent of
112.98 123.32 31.35 29.92 27.26 34.79 34.88 82.60 83.66 81.94 82.85 90.84
manufacturers' fixed assets reported a Manufacturing
Durable goods 3
59.18 57.67 15.31 13.21 13.39 15.76 15.30 39.49 37.90 36.80 35.48 37.54
need as of the end of March for more
Primary metals .
. _ 7.72
7.91 2.42 1.36 1.94 2.20 2.07 7.91 7.36 7.23 7.30
7.78
5.05
Electrical
machinery
8.16 10.25 2.53 2.78 2.33 2.62 2.36 4.78 5.35 5.33 4.74
facilities in light of their current and
Machinery, except elec6.07
trical .
12.66 10.72 2.98 2.18 2.52 3.03 3.33 6.83 6.15 5.92 5.54
prospective sales (table 5), the same
Transportation
equip12.82
11.24
11.65
3.53
19.01
16.
50
4.80
12.18
10.97
4.08
4.08
4.81
ment
proportion as at the end of December.
2.11
.84
1.89
1.92
3.70
.94 2.45 2.28
.51 1.02
Stone, clay, and glass
3.46 1.08
Facilities viewed as about adequate in53.80 65.65 16.03 16.72 13.87 19.02 19.58 43.11 45.76 45.14 47.38 53.30
Nondurable goods 3 . . .
5.03
1.87 4.84 4.85 4.80 4.98
7.49
Food including beverage..
7.41 1.40 1.98 1.77 2.26
creased slightly to 61i/£ percent and
6.15
6.67
1.45 2.26
1.39 5.91 6.30 6.04 6.23
7.74
1.97 2.06
Paper
12.10
12.34
14.01 4.10 3.41 3.07 3.44 3.83 11.01 11.23 11.08 10.99
Chemicals
those viewed as exceeding needs de18.26 26.63 5.69 6.68 5.81 8.46 9.79 15.86 17.80 18.15 20.06 24.35
Petroleum .
clined slightly to 8 percent.
1.92 14.14 18.90 130. 05 128.88 121.83 126.35 137.30
21.67 43.69 19.96 7.67
Public utilities .
Seasonally adjusted

Nonmanufacturing Programs
Spending by nonmanufacturing industries increased 3i/£ percent from the
fourth to the first quarter, to a seasonally adjusted annual rate of $187.7 billion, following small changes in spending during 1980. Nonmanufacturers
plan increases of 1 percent in the second
quarter, iy2 percent in the third, and
4 percent in the fourth.
For the year 1981, plans are for
spending totaling $192.6 billion, 7 per


Manufacturing

89.44
37.12
7.69
5.00

82.16

82.65 81.29

15.48
2.08
2.39

15.50
2.15
2.34

39.44
7.85
4.68

36.99
7.27
5.17

2.52

3.12

3.26

6.84

6.02

5.78

5.81

5.90

3.83
.59

4.92
1.07

5.02
.84

12.99
2.44

11.69
2.21

11.14
1.86

11.42
2.03

11.69
2.05

17.02
1.97
2.08
3.28
7.44

13.80
1.83
1.59
2.91
5.65

18.04
1.99
2.10
3.48
7.73

19.90 42.72 45.66 44.91
2.05 4.80 4.87 4.83
1.36 5.82 6. 19 6.06
3.90 11.10 11.16 10.77
9.71 15.38 18.03 18.32

48.24
5.00
6.41
11.28
20.22

52.32
4.92
6.03
11.98
23.60

12.96

4.20

14.88

10.10 124.53 128.72 124.03 130. 16

131.25

15.70
2.56
2.50

12.39
1.37
2.79

13.94
1.94
2.57

2.97

2.06

4.30
1.05

3.33
.74

Nondurable goods 3
Food including beverage. _
Paper
Chemicals
Petroleum

16.73
1.61
1.97
4.43
5.66
12.01

Public utilities .

85.16

36.38 36.92
7.21 7.50
5.25 5.11

33. 53 35.41

32.43 29.41 27.74

Durable goods 3
Primary metals
Electrical machinery ...
Machinery, except electrical
Transportation
equipment
Stone clay and glass

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 the end of the
period.
3. Includes industries not shown separately.

SUEVEY OF CURRENT BUSINESS

June 1981

29

Table 4.—Manufacturers9 Capacity Utilization Rates: Operating Rates and Ratios of Operating to Preferred Rates1
[Seasonally adjusted]
Operating rates (percent)
Industry and asset size

All manufacturing
Asset size:
$100.0 million and over
$10 0 to $99.9 million
Under $10.0 million
Durable goods 2-

Ratios of operating to preferred rates

1980

1979

1981

Dec.

1979

1980

June

Sept.

Dec.

0.90

0.89

0.87

0.86

80
78
74

.92
.88
.83

.91
.87
.83

.88
.87
.82

Mar.

June

Sept.

Dec.

Mar.

June

Sept.

84

83

82

81

80

76

76

78

78

87
82
76

86
81
76

84
81
75

82
81
75

82
79
74

77
77
70

77
78
71

80
78
72

Mar.

Mar.

Mar.

1981

Mar.

June

Sept.

0.86

0.81

0.81

0.84

.87
.88
.82

.87
.85
.80

.82
.83
.77

.82
.84
.78

.85
.84
.79

.84
.84
.80

Dec.

0.83

85

84

82

80

80

74

75

78

77

.90

.88

.86

.85

.84

.79

.79

.83

.82

Assetsize:
$100.0 million and over
$10.0 to $99.9 million
Under $10 0 million

88
81
75

87
79
76

84
79
75

81
79
75

82
77
73

75
73
70

76
74
71

80
75
72

79
75
72

.92
.86
.81

.91
.85
.82

.87
.85
.82

.85
.86
.82

.86
.83
.79

.79
.79
.77

.80
.80
.78

.81
.81
.78

.83
.81
.77

Primary metals
Electrical machinery
Machinery, except electrical.
Transportation equipment 3.
Motor vehicles
Aircraft
Stone, clay, and glass

87
84
92
87
96
74
78

87
82
92
83
89
75
82

83
82
91
78
78
77
79

80
81
89
74
72
77
83

82
82
91
74
70
79
75

69
78
89
67
60
78
71

66
79
89
71
67
78
73

77
79
90
74
70
80
74

79
78
89
72
69
77
74

.92
.93
.97
.88
.92
.80
.84

.93
.90
.97
.84
.86
.82
.88

.88
.90
.96
.79
.76
.83
.85

.85
.89
.94
.76
.71
.84
.90

.87
.90
.96
.76
.69
.85
.81

.74
.85
.95
.69
.60
.84
.78

.70
.86
.94
.73
.66
.85
.80

.83
.86
.96
.75
.70
.86
.81

.86
.85
.94
.74
.69
.83
.79

83

82

82

82

81

78

78

78

79

.89

.89

.88

.88

.87

.84

.84

.85

.85

Asset size:
$100.0 million and over
$10 0 to $99 9 million ..
Under $10 .0 million ...

86
82
78

85
83
76

85
83
75

84
84
75

83
82
75

80
80
71

80
81
71

80
81
72

81
82
75

.92
.89
.84

.91
.89
.84

.91
.89
.82

.90
.90
.82

.89
.88
.82

.86
.86
.77

.86
.87
.78

.87
.86
.79

.86
.88
.82

Food including beverage
Textiles
Paper
Chemicals
Petroleum
Rubber

79
85
91
83
89
87

81
82
91
82
88
76

78
83
92
83
88
76

79
82
91
83
86
70

77
82
88
82
85
72

77
79
86
76
82
65

76
79
87
78
76
72

75
80
89
78
80
70

79
80
89
78
73
75

.86
.89
.94
.91
.92
.92

.90
.86
.94
.90
.92
.80

.87
.85
.96
.91
.90
.81

.87
.85
.95
.91
.88
.75

.85
.86
.91
.89
.88
.77

.84
.81
.89
.82
.86
.70

.85
.82
.91
.85
.81
.77

.84
.84
.92
.86
.83
.75

.86
.82
.93
.86
.77
.80

85
84

84
83

83
81

83
80

81
80

75
76

74
77

78
78

78
78

.90
.89

.89
.88

.88
.86

.87
.85

.86
.85

.80
.81

.79
.83

.84
.83

.83
.84

Nondurable goods *

Primary-processed goods 5
Advanced-processed goods *. . .

1. 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, p. 47.
2. Also includes lumber, furniture, fabricated metals, instruments, and miscellaneous.
3. Also includes other transportation equipment.

cent more than last year. The largest
increases are planned by mining, 25 percent; "gas and other" utilities, 14 percent; and "communication and other,"
11 percent. Trade and services, railroads, and electric utilities plan increases of less than 5 percent. Air transportation plans a 9-percent decline.
Starts of new projects by public utilities in the first quarter totaled $10.1
billion, compared with $14.9 billion in
the fourth quarter of 1980. Carryover
of utility projects increased $1.1 billion
during the first quarter, to $131.3 billion at the end of March.




4. Also includes tobacco, apparel, printing-publishing, and leather.
5. Consists of lumber; stone, clay, and glass; primary metals; fabricated metals; textiles;
paper; chemicals (at Y* weight); petroleum; and rubber.
6. Consists of furniture, electrical machinery, machinery except electrical, motor vehicles,
aircraft, other transportation equipment, instruments, food including beverage, tobacco,
apparel, printing-publishing, chemicals (at H weight), leather, and miscellaneous.

Table 5.—Manufacturers' Evaluation of Their Plant and Equipment Facilities »
[Percent distribution of gross depreciable assetsl
-

1979

1980

1981

Mar. 31 June 30 Sept. 30|Dec. 31 Mar. 31 June 30 Sept. 30 Dec. 31 Mar. 31

More plant and equipment needed :
All manufacturing2
Durable goods ...
Primary metals 3
Metal products . .
Nondurable goods 2
Food including beverage _
Chemicals and petroleum

35.5
33.1
17.2
39.9
37.9
39.7
43.0

36.5
34.6
17.3
43.4
38.4
43.1
43.0

37.1
35.5
19.5
44.7
38.6
45.7
43.1

37.2
35.9
22.5
44.1
38.5
47.4
43.0

35.5
32.9
17.8
43.5
37.9
44.7
44.9

32.0
29.1
9.9
41.4
34,9
40.8
41.9

32.0
29.0
10.5
40.6
34.9
41.5
41.9

30.6
26.8
10.5
36.3
34.3
43.0
39.6

30.4
26.2
14.9
33.9
34.6
41.0
40.0

59.7
62.6
77.1
66.5
56.8
54.7
51.4

59.3
60.1
77.3
51.7
58.3
50.0
55.7

58.1
57.6
75.0
49.1
58.7
47.0
56.3

57.8
57.0
71.6
49.2
58.7
44.4
56.5

58.1
57.9
76.1
48.6
58.4
47.4
54.1

58.7
57.1
70.8
48.5
60.1
49.6
56.9

59.0
57.3
73.2
48.5
60.7
50.9
56.5

60.8
59.8
72.6
53.8
62.0
49.4
59.5

61.6
61.2
67.6
57.1
61.9
50.7
58.8

4.8
4.3
5.7
3.6
5.3
5.6
5.6

4.2
5.3
5.4
4.9
3.3
6.9
1.3

4.8
6.9
5.5
6.2
2.7
7.3
.6

5.0
7.1
5.9
6.7
2.8
8.2
.5

6.4
9.2
6.1
7.9
3.7
7.9
1.0

9.3
13.8
19.3
10.1
5.0
9.6
1.2

9.0
13.7
16.3
10.9
4.4
7.6
1.6

8.6
13.4
16.9
9.9
3.7
7.6
.9

8.0
12.6
17.5
9.0
3.5
8.3
1.2

About adequate:
AH manufacturing.
... .
....
Durable goods 2
Primary metals 3
Metal products
Nondurable goods 2
Food including beverage
Chemicals and petroleum
Existing plant and equipment exceeds needs:
All manufacturing
Durable goods 2 .
Primary metals 3
Metal products _ . .
Nondurable goods 2
Food including beverage
Chemicals and petroleum

1. According to respondent companies' characterizations of their plant and equipment facilities, taking into account their
current and prospective sales for the next 12 months.
2. Includes industries not shown separately.
3. Includes machinery, transportation equipment, and fabricated metals.

SURVEY OF CURRENT BUSINESS

30

June 1981

Table 6.—Expenditures for New Plant and Equipment by U.S. Nonfarm Business

1

[Billions of dollars]
Seasonally unadjusted

1979

1980

1980

1981 1

Seasonally adjusted at annual rates

1980

1981
III 1

1981

I

II

III

IV

270.46 295.63 320.51

65.18

74.02

74.12

82.31

69.75 78.40

80.39

91.96 291.89 294.36 296.23 299.58 312.24 311.87 322.88

333.09

98.68 115.81 127.88

24.10

28.86

28.98

33.87

26.90

30.51

32.25

38.22 111.77 115.69 116.40 118.63 124.50 121.99 130.46

133.45

Durable goods 2
Primary metals .
Blast furnaces, steel works. ..
Nonferrous metals
Fabricated metals
Electrical machinery
Machinery, except electrical
Transportation equipment 2
Motor vehicles
Aircraft
Stone, clay, and glass
Other durables '

51.07

6.76
3.09
2.39
3.05
7.28
10.52
15.32
8.30
5.27
3.94
4.22

58.91
7.71
3.29
3.11
2.96
9.59
11.59
18.16
9.06
7.03
3.82
5.09

63.99
8.40
3.19
3.74
2.99
11.07
13.09
18.79
9.68
6.91
3.47
6.18

12.54

1.60
.72
.61
.67
1.83
2.55
3.89
2.00
1.50
.90
1.09

14.79
1.91
.86
.72
.75
2.21
2.87
4.72
2.40
1.79
1.01
1.33

14.49
2.07
.84
.85
.76
2.35
2.75
4.47
2.21
1.73
.90
1.19

17.09
2.13
.88
.93
.78
3.20
3.42
5.07
2.46
2.00
1.00
1.48

13.24
1.60
.55
.74
.62
2.05
2.80
4.13
2.23
1.46
.75
1.29

15.12
1.94
.75
.87
.71
2.42
3.10
4.61
2.46
1.63
.85
1.50

16.02
2.21
.83
1.01
.72
2.77
3.34
4.64
2.42
1.68
.81
1.53

19. fO
2.65
1.06
1.13
.94
3.83
3.85
5.42
2.56
2.13
1.05
1.86

58.28
7.98
3.74
2.92
3.14
8.83
11.36
18.06
8.98
7.35
4.06
4.84

59.38 58.19
7.84
8.02
3.58 3.29
2.91
3.39
2.97
3.05
9.20
9.97
11.51 11.05
18.50 17.54
9.00
8.88
7.44
6.70
3.91 3.74
5.45
4.81

59.77
7.17
2.80
3.18
2.72
10.10
12.36
18.58
9.35
6.73
3.61
5.22

61.24 60.28
7.84 7.95
2.86 3.14
3.48 3.52
2.92 2.78
9.79 10.16
12.66 12.18
18.98 17.99
10.09 9.28
6.98 6.76
3.31 3.26
5.73 5.97

64.90
8.53
3.23
4.01
2.93
11.86
13.50
18.34
9.73
6.57
3.40
6.33

68.65
9.08
3.41
3.89
3.30
12.00
13.93
19.88
9.67
7.25
3.85
6.61

Nondurable goods
Food including beverage
Textiles
Paper
Chemicals
Petroleum...
.
Rubber
Other nondurables <

47.61
6.62
1.50
5.55
10.78
16.21
2.17
4.78

56.90
7.39
1.62
6.80
12.60
20.69
1.73
6.08

63.89
8.41
1.61
6.75
12.62
26.22
1.75
6.53

11.56
1.52
.40
1.37
2.66
3.94
.41
1.27

14.06
1.97
.41
1.66
3.19
4.75
.44
1.64

14.50
1.82
.39
1.71
3.22
5.45
.45
1.45

16.78
2.09
.42
2.07
3.52
6.55
.43
1.70

13.66
1.83
.37
1.48
2.72
5.50
.38
1.38

15.39
2.03
.37
1.57
3.21
6.17
.46
1.58

16.22
2.11
.43
1.65
3.06
6.89
.44
1.63

18.62
2.43
.44
2.05
3.63
7.66
.46
1.94

53.49
7.14
1.63
6.40
12.60
18.06
1.84
5.82

56.32
7.61
1.60
6.82
12.87
19,16
1.73
6.52

58.85
7.29
1.72
6.99
11.87
23.30
1.57
6.12

63.27 61.71
8.55 7.82
1.53
1.44
6.93 6.33
12.81 12.82
25.33 25.31
1.74
1.82
6.37 6.17

65.56
8.77
1.71
6.70
12.57
27.49
1.76
6.56

64.80
8.53
1.77
7.00
12.38
26.47
1.68
6.98

171. 77 179.81 192.62

42.85 47.89

48.14

53.74 180.13 178.66 179.83 180.95 187.74 189.88 192.42

199.64

Total nonf arm business
Manufacturing

Nonmanufacturing

.

I

III

IV i

I

II

III

58.21
7.46
1.53
6.92
13.19
21.45
1.83
5.82

IV

I

III

IIIi

IV i

41.08

45.16

45.13

48.44

_

11.38

13.51

16.91

2.74

3.27

3.50

4.01

3.69

4.06

4.40

4.76

11.89

12.81

13.86

15.28

16.20

15.93

17.51

17.87

_

12.35
4.03
4.01
4.31

12.09
4.25
4.01
3.82

12.14
4.39
3.65
4.10

2.73
.99
.90
.84

3.31
1.06
1.27
.98

3.00
1.00
.93
1.07

3.05
1.20
.91
.94

2.58
.96
.88
.74

3.06
1.05
.94
1.07

2.87
1.10
.71
1.06

3.63
1.29
1.12
1.22

12.47
4.46
3.90
4.11

12.09
4.06
4.27
3.76

12.23
3.98
4.06
4.18

11.70
4.54
3.77
3.39

11.74
4.23
3.85
3.66

11.48
4.10
3.17
4.21

11.58
4.41
3.09
4.07

13.71
4.81
4.55
4.35

33.96
27.65
6.31

35.44
28.12
7.32

37.26
28.93
8.33

8.01
6.64
1.37

8.84
7.07
1.77

8.97
6.89
2.08

9.62
7.53
2.10

7.95
6.36
1.59

9.36
7.29
2.07

9.65
7.42
2.23

10.30
7.86
2.44

36.26
28.98
7.28

35.03
27.91
7.12

35.58
28.14
7.44

34.96
27.54
7.41

36.05 37.39
27.69 28.98
8.36 8.40

38.23
30.26
7.98

37.31
28.73
8.57

Trade and services
79.26
Wholesale and retail trade
22.61
Finance, insurance, and real estate . . 29.63
Personal, business, and prof, services. 27.02

81.79
21.78
31.93
28.08

85.22

19.08
5.29
7.31
6.49

20.23
5.54
7.77
6.92

20.38
5.48
7.88
7.03

22.09
5.47
8.98
7.64

19.41
4.78
7.62
7.00

21.12

20.92

23.77

82.17
22.34
31.56
28.28

81.07
23.28
30.82
26.97

81.19
21.43
31.82
27.94

82.91 83.43 84.55
20.25 20.57
33.55 32.83
29.11 30.03

84.12

88.33

Communication and other
C ommunication
.
Other 6

36.99
26.16
10.82

41.09

8.52
6.04
2.48

9.52
6.77
2.75

9.28
6.60
2.68

9.67
6.76
2.91

9.23
6.50
2.73

10.28

10.30

11.28

37.34 37.66
26.81 26.78
10.54 10.88

36.97
26.32
10.66

36.11
24.89
11.22

40.32 40.54
28.68
11.64

40.97

42.43

Mining
Transportation
Railroad
Air
Other

..

Public utilities
Electric
Gas and other

34.83
23.78
11.05

1. Estimates are based on planned capital expenditures reported by business in late April
and May 1981. The planned expenditures for 1981 have been corrected for biases. The adjustment procedures are described in the October 1980 SURVEY. Before adjustment, plans for
1981 were $316.71 billion for total business, $130.87 billion for manufacturing, and $185.85
billion for nonmanufacturmg.

(Continued from page 25)
progress, may further lower the deviation
between planned and actual spending.

2. Includes industries not shown separately.
3. Consists of lumber, furniture, instruments, and miscellaneous.
4. Consists of apparel, tobacco, leather, and printing-publishing.
5. Consists of construction; social services and membership organizations; and forestry,
fisheries, and agricultural services.

tals, and educational services. For the remaining industries or portions of industries,
only Rural Electrification Administration
(REA) electric utility cooperatives have sizable PA capital expenditures; other indus2. Coverage and Statistical Revisions tries' PA expenditures are insignificant relaThe PA capital expenditures series now tive to their total plant and equipment excovers all nonfarm business in the United penditures. For REA electric utility cooperaStates. Coverage was expanded by includ- tives, it is assumed that PA capital spending
ing expenditures for previously omitted por- as a percentage of capital spending for gentions of industries (see Green and Hertzberg, erating facilities is equal to the correspond"Revised Estimates," p. 38) and for four in- ing percentage for corporate utilities. The
dustries previously not included—real estate; estimates of PA capital spending for these
professional services; social services and cooperatives increase rapidly from 1977
membership organizations; and forestry, fish- through 1979, reflecting a rapid increase in
the construction of generating facilities. In
eries, and agricultural services. Coverage
earlier years, the main activities of these corevisions for PA capital expenditures in- operatives were transmission and distribucreased from less than $0.1 billion in 1973 tion—activities not involving pollution abateto $0.4 billion in 1979 (table 6).
ment.
Most of the additional coverage in PA exStatistical revisions in PA capital spending
penditures is derived from nonsample sources. resulted in a decrease for 1973 and increases
The only sample incorporated for the first for all other years. These revisions were due
time in this revision is for real estate, hospi- to both the statistical revisions in total uni


verse plant and equipment spending and to
retabulation of PA data from the sample reports from the annual survey.
Statistical revisions in total plant and
equipment spending increased from $11.7 billion in 1973 to $47.1 billion in 1979. These
revisions were due to the incorporation of
benchmark data for 1967 and 1972 and to
retabulation of the quarterly sample reports.
Before retabulation, each company's industry- and size-group classification was reviewed
and made to reflect major mergers and
acquisitions occurring after 1972, responses
received too late for inclusion in the previously published estimates were included, and
the responses were reedited (see Green and
Hertzberg, "Revised Estimates," pp. 26-28).
The reports from the annual survey were
also retabulated. Before retabulation, the
steps listed for the quarterly surveys were
followed. Reclassification of companies and
reediting of responses had the largest effect
(Continued on page 72)

By RUSSELL C. KRUEGER

U.S. International Transactions. First Quarter 1981
A $3.1 billion current-account surplus
•**• highlighted U.S. international
transactions in the first quarter. A large
increase in merchandise exports, following several quarters of little change,
more than offset an increase in merchandise imports associated with
stepped-up U.S. business activity. In
the services accounts, higher average interest rates and a sustained high level of
U.S. bank lending abroad generated a
strong increase in net private and Government income receipts, which more
than offset a decline in net direct investment income. Net unilateral transfers
declined from an unusually high fourthquarter level.
In the private capital accounts, increased U.S. bank claims reflected large
purchases of Eurodollar certificates of
deposit (CD's) for the accounts of U.S.
money market mutual funds, and an
increase in interbank lending to offshore

offices. Some of the interbank lending
was returned directly to U.S. nonbank
borrowers. U.S. direct investment outflows dropped sharply, due to shifts to
intercompany account inflows for both
petroleum and manufacturing companies.
In the official capital accounts, U.S.
foreign currency holdings increased,
largely reflecting purchases of German
marks early in the quarter. An increase
in foreign official assets in the United
States was attributable almost entirely
to an increase in OPEC holdings.
The statistical discrepancy (errors
and omissions in reported transactions)
was an inflow of $6.2 billion.
U.S. dollar in exchange markets
The U.S. dollar appreciated strongly
against all major currencies except the
Canadian dollar, rising 7 percent and 5
percent on a trade-weighted basis

against the currencies of 10 industrial
and 22 OECD countries, respectively
(table C, chart 7). Most of the appreciation occurred early in the quarter, when
short-term interest rates in the United
States were much higher than rates in
leading foreign markets. Relatively
tight monetary conditions in the United
States contributed to high U.S. interest
rates, whereas somewhat easier monetary conditions prevailed in other leading countries. In addition, the dollar
was bolstered by the U.S. current-account surplus, in contrast to weak current-account positions in many other industrial countries, especially Germany.
Through mid-February, the dollar rose
sharply against the German mark and
most other European Monetary System
(EMS) currencies, despite substantial
intervention by monetary authorities.
The dollar's appreciation was partly
reversed in the second half of the quar-

Table A.—Summary of U.S. International Transactions
[Millions of dollars, seasonally adjusted]
Line Lines in tables 1, 2, and 10 in which transactions are included are indicated in ( )
1 Exports of goods and services (1)
Merchandise, excluding military (2)
2
3
Other goods and services (3-15)
4
5
6

Imports of goods and services (17)
Merchandise, excluding military (18)
Other goods and services (19-31)

7

8

U.S. Government grants (excluding military grants
of goods and services) (34)
Remittances, pensions, and other transfers (35, 36) __ _

9

U.S. assets abroad, net (increase/capital outflow (— ))

10
11

U.S. official reserve assets, net (38)
U.S. Government assets, other than official reserve
assets, net (43)
U.S. private assets, net (47)

12

14
15

Foreign assets in the United States, net (increase/
capital inflow (+)) (56)
Foreign official assets, net (57)
Other foreign assets, net (64)
_

16
17

Allocations of special drawing rights (74)..
Statistical discrepancy (75)

13

1979

1979

1980

I

288,925

II

1980
III

IV

I

II

Change:
1980 IV19811

1981

III

IV

IP

344, 667
223, 966
120, 701

65, 424
42, 036
23,388

68,890
43, 834
25, 056

74, 718
47, 236
27, 482

79, 894
51, 367
28,527

85, 764
54,898
30 866

83 617
55, 667
27, 950

86, 655
56, 252
30, 403

88,636
57, 149
31, 487

94, 159
61, 117
33,042

5,523
3,968
1,555

-281, 917 —333, 888
-211,819 -249, 308
-70, 098 —84, 580

—62, 885
-46, 766
—16,119

-68,188
-51,117
—17,071

—72, 265
-54, 210
—18 055

—78, 582
-59, 726
— 18,856

—85 981
-65, 024
—20 957

—82, 830
—62,411
—20, 419

—80, 177
-59, 154
—21, 023

—84,902
-62, 719
—22, 183

—89, 560
-65, 719
—23, 841

—4, 658
-3,000
-1,658

184, 473
104, 452

—3 536
-2,058

—4 659
-2,397

—854
-457

—911
-470

—881
-520

—890
-611

—1 336
-542

—787
-545

—912
-591

—1 624
-720

—950
-562

674

—62 639
-1,133

—84, 776
-8, 155

-8, 057
-3,585

—15,639

322

—24 942
2,779

—14 003
—649

—12 639
-3 268

—24, 837

502

—19,302
-1,109

-27, 995
-4,279

-18,520
-4,529

9,475
-250

—3 767
—57, 739

—5, 165
—71,456

—1 093
-3, 379

—971
-14,990

-778
-26, 943

—925
—12,429

—1 456
—7,915

—1 187
—24, 152

—1,427
-16,766

—1,094
-22, 622

—1,358
-12,633

-264
9,989

38 946
-13,757
52, 703

50,261
15, 492
34, 769

2,258
-8,688
10, 948

7,007
-9, 785
16, 792

24, 345
6,011
18,334

5,335
-1,295
6,630

7 509
-7 462
14, 971

7,232
7,557
-326

11, 651
7,686
3,965

23,870
7,711
16,158

7,541
5,384
2,157

—16,329
-2, 327
-14,001

1,139
21, 140

1,152
29,640

1,139
3,430

9,309

-455

8,857

1,152
6,073

18, 151

2,676

2,736

1,093
6,799

1,093
4,063

Preliminary.




31

158

SUKVEY OF CUEEENT BUSINESS

32

June 1981

Table B.—Selected Transactions With Official Agencies
[Millions of dollars]
19 79

1979

Line

I

1 Changes in foreign official assets in the U.S., net (decrease — ) (luie 57 tableJ 1)
- Industrial countries 2
Members of OPEC
Other countries
- 5 Changes in U.S. official reserve assets (increase -)
(line 38, table 1)
Activity under U.S. official reciprocal currency 3arrangements with foreign monetary authorities:

2
3
4

g
6a
6b
7
7a
7b

U S drawings, or repayments ( — ), net
Drawings
Repayments
..
Foreign drawings, or repayments ( — ), netDrawings
Repayments

-13,757

II

IV

III

I

-7,462
-10,942
2,988

II

III

IV

IP

7,557
2,913
4,617

7,711
6,472
1,024

5,384

27

7,686
2,570
4,115
1,001

215

5,188
-485

502

-1,109

-4, 279

-4,529

—371

15,492
1,013
12,744
1,735

-8,688
-6, 937
-1,463
-288

-9, 785
-11,407

281

6,011
4,171
1,760

—1, 133

-8,155

-3,585

322

2,779

-649

-3,268

-3, 321
5,121
—8,442

-3,184
1,773
-4, 957

-3,356

-2, 195

-3, 173

964

-604

-3,022

2,727
3,425
—698

-497

-3,764

-958

-3, 512

1,096
—132

—942

39
-39

95
192
-97

-95
50

408

80

1,341

827

31
—31

242
-242

v Preliminary.
1. Western Europe, Canada, Japan, Australia, New Zealand, and South Africa.
2. Based on data for Ecuador, Venezuela, Indonesia, and other Asian and African oilexporting countries.

Table C

1981

—21, 151
5,543
1,851

70
-70

ter when interest rate differentials narrowed—U.S. interest rates declined
sharply, as domestic bank credit demand slackened, while key rates abroad
moved sharply higher. Bates in Germany rose substantially in late February when the Bundesbank tightened the
availability and raised the cost of
credit, and removed remaining restrictions on capital inflows. Subsequently,
other EMS countries and Switzerland
also reduced credit availability and increased their interest rates. Japan and
the United Kingdom lowered interest
rates to help stimulate their economies,
but their rates fell less rapidly than
U.S. rates. U.S. authorities did not
intervene in exchange markets in the
second half of the quarter, except for a

19 30

1980

-1,295
-6, 978
4,965

718

461

492

339

338

681

Change:
1980 IV19811

—2 327
—5, 791
4 164
-700

-250

371
371

-371

200
200

200
200

—145

3. Consists of transactions of the Federal Reserve System and the U.S. Treasury Department's Exchange Stabilization Fund.

small sale of marks following the assassination attempt on President Reagan.
This reflected the new U.S. policy of intervening only to counter conditions of
disorder in the market.
From the end of December to the end
of March, the dollar appreciated 13 percent against the Italian lira, 10 percent
against the French franc, 9 percent
against the Dutch guilder and Swiss
franc, 7 percent against the German
mark, 6 percent against the British
pound, and 4 percent against the Japanese yen. The dollar depreciated less
than 1 percent against the Canadian
dollar. The dollar appreciated more
than 2 percent against the Mexican
peso, after virtually no change for three
years.

Merchandise trade
The U.S. merchandise trade deficit
declined to $4.6 billion in the first quarter from a fourth-quarter deficit of $5.6
billion. A large increase in exports more
than offset an increase in imports associated with stepped-up U.S. business
activity.
Exports increased $4.0 billion, or 7
percent, to $6.1 billion; volume increased 5 percent. Agricultural exports
increased $1.7 billion, or 15 percent, to
$12.7 billion; volume increased 11 percent, as price increases slowed appreciably from the previous quarter. About
one-half of the increase in volume
represented recovery from a large decrease in the fourth quarter, when

Indexes of Foreign Currency Price of the U.S. Dollar
[May 1970 = 100]

End of period
1978
I

Trade-weighted
average against 22 OECD currencies l
Trade-weighted average against 10 currencies a
Selected currencies: 3
Canada
France
Germany
Italy
Japan
Netherlands
Switzerland
United Kingdom

_. .

II

1979

III

IV

II

III

IV

I

II

1981

III

IV

I

84.1
77.4

82.1
77.1

79.2
73.2

78.5
71.3

80.3
73.0

80.9
72.4

79.8
70.5

81.6
70.7

89.3
77.2

81.0
70.2

82.0
70.9

85.0
74.5

89.6
79.8

105.4
83.0
55.7
135.5
62.0
59.6
43.2
129.4

104.7
81.6
57.1
135.9
57.0
61.5
43.0
129.1

110.2
78.5
53.4
130.9
52.7
58.0
35.7
121.8

110.4
75.7
50.3
131.9
54.2
54.2
37.5
118.1

108.1
77.8
51.4
133.5
58.3
55.4
39.1
116.1

108.7
77.6
50.7
132.4
60.5
55.9
38.4
110.8

108.1
74.3
48.0
127.5
62.2
53.2
35.5
109.3

108.8
72.8
47.7
127.8
66.8
52.5
36.6
108.0

110.9
81.1
53.4
142.8
69,6
58.6
42.4
110.9

107.2
74.0
48.4
133.4
60.6
53.1
37.5
101.7

109.0
76.1
49.9
137.1
59.1
54.1
38.1
100.6

111.2
81.8
53.9
147.9
56.6
58.6
40.7
100.7

110.5
89.8
57.9
166.6
58.8
64.1
44.2
107.0

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. Data: U.S. Department
of the Treasury.




I

1980

2. Belgium, Canada, France, Germany, Italy, Japan, the Netherlands, Sweden, Switzerland, United Kingdom. Data: Federal Reserve Board. The index has been revised as a result
of a change in method of computation; for details, see the August 1978 Federal Reserve Bulletin.
The new FRB index was rebased by BE A.
3. Data: International Monetary Fund.

June 1981

SURVEY OF CURRENT BUSINESS

abundant crops in Europe temporarily
reduced export demand. Also, sharp
price increases in the fourth quarter
may have delayed some purchases until
the first quarter. There were strong increases in exports of soybeans and
grains, largely to Eastern Europe (excluding the Soviet Union), and in
cotton.
Nonagricultural exports increased
$2.3 billion, or 5 percent, to $48.4 billion ; volume increased 3 percent. There
was a sharp increase in exports to Canada, especially in machinery, and a moderate increase to Japan; exports to
other industrial countries increased
only slightly. Exports to developing
countries, especially to Latin America,
were strong, continuing recent trends.
Threat of a major strike contributed to
a 10-percent increase in coal exports;
volume increased 13 percent as prices
declined. However, coal exports continued to be limited by inadequate coal
loading facilities at ports.
Imports increased $3.0 billion, or 5
percent, to $65.7 billion; volume increased 1 percent. Petroleum imports
increased $1.5 billion, or 8 percent, to
$20.8 billion. The increase was entirely
due to a rise in the average price per
barrel to $34.63 from $32.25; the average number of barrels imported daily
was unchanged at 6.6 million. Declines
in imports from Mexico and Algeria
were offset by large increases in imports of lower priced Saudi Arabian
crude and smaller increases of Nigerian
and Indonesian crude. Despite strong
U.S. economic expansion in the first
quarter, petroleum demand was about
unchanged, held down by rising prices
and increased conservation. Domestic
stocks remained at historically high
levels and refinery utilization dropped
to the lowest levels since World War II.
Nonpetroleum imports increased $1.5
billion, or 3 percent, to $44.9 billion;
volume increased 1 percent. Most of the
increase was due to a 10-percent increase in industrial supplies and materials from Canada, Western Europe,
and the developing countries. Capital
goods and automotive product imports
from Japan rose strongly. In contrast,
there were large declines in precious
metals and numismatic coin imports



33
CHART 7

Indexes of Foreign Currency Price of the U.S. Dollar (May 1970=100)
95

TRADE-WEIGHTED AVERAGES

85

75

180

SELECTED CURRENCIES3

170 -

160 -

150-

140 -

130 -

120 -

110

British pound

100

90

80

70

60

50

40

J_

30 Li
1978

1979

1980

1981

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. Data: U.S. Department of the Treasury.
2. Belgium, Canada, France, Germany, Italy, Japan, the Netherlands, Sweden, Switzerland, United Kingdom. Data: Federal Reserve Board. The index has been
revised as a result of a change in the method of computation; for details see the August 1978 Federal Reserve Bulletin. The new FRB index was rebased by BEA.
3. Data: International Monetary Fund. NOTE.—Data are for end of month.
U.S. Department of Commerce, Bureau of Economic Analysis.
31-6-7

34

from South Africa, and automotive
imports from Canada.
By area, a large increase in exports
led to an increase in the trade surplus
with Latin America and Other Western
Hemisphere, and to reductions in the
deficits with other developing countries.
Exports to non-OPEC developing
countries were especially strong. An increase in imports from industrial countries led to a decline in the trade surplus
with Western Europe and an increase
in the deficit with Japan.
Service transactions
Net service receipts decreased $0.1
billion in the first quarter to $9.2 billion.
Receipts were $33.0 billion, up $1.6 billion, and payments were $23.9 billion,
up $1.7 billion.
Receipts of income on U.S. direct investment abroad decreased $0.6 billion
to $8.1 billion, continuing the general
downtrend from peaks in late 1979 and
early 1980. The first-quarter decrease
was widespread and associated with
lower earnings in industrial countries—
manufacturing affiliates were particularly affected—and with the rise of the
U.S. dollar in exchange markets. Petroleum affiliates may have recorded a
moderate increase in income receipts,
despite the soft market for crude and
refined products, due in part to exchange rate gains on foreign currencydenominated liabilities to foreign subsidiaries. Payments of income on foreign direct investment in the United
States declined $0.2 billion to $1.9 billion. The decrease was more than accounted for by a drop in reinvested
earnings of U.S. manufacturing subsidiaries of European companies.
Other private investment income receipts increased $2.2 billion to a record
$12.5 billion, due to higher quarterly
average interest rates and a sustained
high level of U.S. bank claims on foreigners. Higher rates also pushed private payments $0.8 billion higher, to a
record $6.7 billion. U.S. Government
receipts increased to $0.8 billion, partly
reflecting an increase in earnings on
U.S. Government foreign currency balances. Steady increases in foreign official holdings of U.S. Government
securities in each of the last four quar


SURVEY OF CURRENT BUSINESS
ters and higher rates increased U.S.
Government payments to $3.9 billion.
Travel receipts were unchanged at
$2.7 billion. Continued declines in receipts from Canada and Mexico were
offset by a moderate increase in receipts
from overseas areas due to a larger
number of travelers. Travel payments
increased 17 percent to a record $3.2 billion. U.S. residents continued to travel
to Canada to purchase lower priced
gasoline; travel to Mexico was also up
strongly. Expenditures for overseas
travel increased due to higher average
expenditures per traveler despite dollar
appreciation; much of the increase reflected the higher rate of inflation in
Latin America.
Passenger fare receipts increased $0.1
billion to $0.7 billion, due to both volume and fare increases. Payments increased 24 percent to $1.2 billion, due to
higher fares. Travel to South America
and Europe was strong, but travel to
Central America and the Caribbean was
down, possibly because of political instability. Other transportation receipts
increased slightly to $3.0 billion; payments decreased slightly to $2.7 billion,
due to a drop in ocean freight payments.
Transfers under military sales contracts decreased $0.1 billion to $2.0 billion. Direct defense expenditures declined $0.2 billion to $2.7 billion, due to
a decline in payments to NATO.
Unilateral transfers, excluding military grants, were $1.5 billion, down $0.8
billion from the fourth quarter, when
there were unusually large grants to
Israel.
17.5. assets abroad
U.S. official reserve assets increased
$4.5 billion, compared with a $4.3 billion increase in the fourth quarter. U.S.
holdings of foreign currencies increased $2.4 billion, mostly in January
and February, when high U.S. interest
rates contributed to strong appreciation
of the dollar, especially against the German mark and other EMS currencies.
U.S. holdings of special drawing rights
(SDK's) increased $1.4 billion, due to
a $1.1 billion allocation of SDK's, the
last of three authorized under a 1978
resolution, and to increased designation
of the United States as recipient of

June 1981

SDK's sold to the International Monetary Fund (IMF). The U.S. reserve
position in the IMF increased $0.7 billion, due to increased use of the dollar
in IMF transactions.
Claims on foreigners reported by
U.S. banks increased $11.2 billion, compared with a $13.1 billion increase.
There were large U.S. bank purchases
of high-yield foreign financial instruments, primarily CD's issued by foreign
banks, held for account of U.S. money
market mutual funds. A less rapid decline in foreign than in U.S. deposit
rates from peak levels accounted for the
relative attractiveness of these investments. First-quarter purchases exceeded
the strong purchases in the first and
second quarters of 1980 and equaled the
record purchases of the third quarter
of 1979.
Bank claims on their own foreign
offices increased strongly; these interbank transfers were encouraged by a
differential between deposit rates—U.S.
rates were substantially lower than
Eurodollar rates. This differential made
it advantageous to fund loans arranged
by Caribbean offices and other financial
centers from U.S. deposits, or to transfer funds to foreign offices with higher
deposit rates. In recent quarters, U.S.based banks have transferred funds to
Caribbean offices in order to fund lending from these banks to nonbank U.S.
residents. Borrowing from Caribbean
offices was advantageous to nonbank
U.S. residents because quoted interest
rates were based on Libor, the London
interbank offered rate, which averaged
almost 2 percent less than the U.S.
prime rate (chart 8).
Bank claims on unaffiliated foreigners declined sharply, especially on countries in developing areas, and on Western Europe. In contrast, unaffiliated
claims on Japan increased strongly;
liberalization of investment laws last
December encouraged capital inflows
by permitting Japanese residents to
make unlimited foreign currency deposits in Japanese banks.
U.S. direct investment abroad declined $6.1 billion to $1.0 billion, the
smallest capital outflow since the first
quarter of 1974. Equity and intercompany accounts shifted $5.9 billion, to in-

SUEVEY OF CURRENT BUSINESS

June 1981

CHART 8

Loans From Foreign Branches of U.S. Banks to U.S. Residents
and Differential Between Prime Rate and Libor
Percent

Billion $
12

Differential2
(right scale)
4

i

i

i

I

I

I

i

i

I

i

I

I

i

I

1979

I

I

I

I

i

i

i

1980

I

I

I

i

i

i

I

i

I-?

1981

1. Loans from foreign branches of U.S. banks to U.S. residents other than the U.S. parent bank. End of month data.
2. U.S. prime rate less Libor (London interbank offered rate) for 90-day Eurodollar deposits. Monthly average data.
Data: Federal Reserve Board.
U.S. Department of Commerce, Bureau of Economic Analysis

flows of $2.5 billion. Shifts occurred in
both petroleum (a $2.8 billion shift, to
inflows of $1.7 billion) and nonpetroleum (a $3.1 billion shift, to inflows of
$0.8 billion). About one-half of the
shift in petroleum inflows reflected a reduction in short-term receivables owed
U.S. parents by European refining and
marketing affiliates; another major inflow reflected the transfer of assets to
the U.S. parent from a Middle Eastern
affiliate. Proceeds from the sale of a petroleum affiliate of a U.S. company to
a Canadian company more than accounted for inflows from Canada.
Among nonpetroleum affiliates, a U.S.
manufacturing company borrowed
heavily from European subsidiaries
(inflow), reversing its large loan repayments in the fourth quarter (outflow).
Reinvested earnings declined $0.2 billion to $3.4 billion.
U.S. purchases of foreign securities
increased $0.1 billion to $0.5 billion, but
remained at a low level. New bond issues
in the United States declined $0.3 bil


lion to $0.8 billion, as foreign borrowers
were discouraged by high U.S. longterm rates. Only issues by top quality
Canadian borrowers, who traditionally
use U.S. capital markets, were moderately strong; there were no Western
European issues, in contrast to $0.4 billion in the fourth quarter. The decline
in purchases of newly issued bonds was
more than offset by a $0.7 billion reduction, to $0.4 billion, in inflows associated with transactions in outstanding
bonds, as redemptions declined from
unusually high fourth-quarter levels.
Net U.S. purchases of foreign stocks
were virtually unchanged; record purchases in the rising Japanese stock
market were offset by continued sales of
Canadian stocks. Sales of Canadian
stocks began in the fourth quarter after
announcement of the proposed Canadian National Energy Program, which
discouraged foreign investment in
Canadian resource companies. Net purchases of European stocks declined.

35
Foreign assets in the United States

Foreign official assets in the United
States increased $5.4 billion in the first
quarter, compared with an increase of
$7.7 billion in the fourth (table B). Net
inflows from industrial countries were
only $0.7 billion in the first quarter.
Several countries drew heavily on reserves to support their currencies in exchange markets; these outflows appeared to be partly offset by inflows that
may have been associated with several
countries' direct borrowing from OPEC
members. Net assets placed directly in
the United States by OPEC members
were $5.2 billion, up sharply from the
fourth quarter. Assets of other developing countries declined moderately.
U.S. liabilities to private foreigners
and international institutions reported
by banks decreased $2.3 billion, following an $8.6 billion increase. Most of the
change wTas due to a shift to a decrease
in liabilities to U.S. banks' foreign
offices, especially in the Caribbean. Despite the rapid growth of the U.S. economy in the first quarter, U.S. commercial and industrial loan demand of
\veekly reporting banks declined, and
U.S. banks limited drawings from their
offshore offices. There wTas, however, a
substantial step-up in offshore office
loans to nonbank U.S. residents, because of the previously mentioned lower
interest rates. A similar step-up in offshore lending to nonbank U.S. residents
occurred in the second quarter of 1980,
when Eurodollar interest rates fell
much more rapidly than the U.S. prime
rate.
Net foreign purchases of U.S. securities rose to a record $2.4 billion from
$2.2 billion. Stock purchases by foreigners have been large during the last two
quarters, due to rising prices and continued dollar strength in the exchange
markets; purchases from Western Europe increased strongly, while Canadian purchases were reduced from a
high fourth-quarter rate. Net purchases
of outstanding U.S. bonds increased
$0.3 billion to $0.6 billion, because of
high and rising interest yields despite
declines in short-term money market
rates. As short-term rates declined over
the quarter, expectations of declines in
long-term rates may also have attracted

36

SUEVEY OF CURRENT BUSINESS

June 1981

Differences between the previous and revised series for 1977-80 are primarily attributable to differences in coverage, definition, and
U.S. direct investment abroad
classification. The major differences are sumEstimates of 1977-80 capital outflows and marized below; additional details may be
its components, equity and intercompany ac- found in U.S. Direct Investment Abroad,
count outflows and reinvested earnings of 1977.
Less-than-10-percent ownership interests.—
incorporated affiliates; estimates of income
and its components, interest, dividends, and In both the previous and revised series, a
earnings of unincorporated affiliates and re- private U.S. investment abroad was considered
invested earnings of incorporated affiliates a direct, rather than a portfolio, investment if
(the same item included in capital outflows, a single U.S. person owned at least 10 percent
but with the opposite sign) ; and estimates of of the voting securities (or the equivalent)
fees and royalties for U.S. direct investment of a foreign business enterprise. However, in
abroad (tables 1, 2, and 10, lines 8, 11, 12, 13, the previous series, an interest of a U.S. per48, 49, and 50, and table 5, lines 1-29) have son of less than 10 percent was also included
been revised to incorporate the results of the in direct investment in two cases: (1) when
1977 benchmark survey of U.S. direct invest- another U.S. person held an interest of at
ment abroad. For all series except equity and least 10 percent in the same enterprise, and
(2) when, in the case of a publicly held
intercompany account outflows, the revised
estimates for 1977 are data for the universe of foreign company, the combined interest of all
affiliates, as reported in the benchmark sur- U.S. persons was at least 50 percent. In the
vey. For equity and intercompany account revised series, direct investment is defined
outflows, the revised estimates for 1977 are strictly from the viewpoint of a single owner,
the data reported in the benchmark survey for and all less-than-10-percent interests are inaffiliates for which reports were also received cluded in portfolio investment. (In reality,
in BEA's quarterly sample surveys. For pe- reclassification of investment in publicly held
riods since 1977, revised universe estimates companies made little difference because U.S.
for all series except equity and intercompany ownership in the only such companies of sigTechnical Notes
account outflows were obtained by extrap- nificant size fell below 50 percent before 1977.)
"International" category.—In the revised
As is customary each June, estimates of olating forward the 1977 universe data
series, the "International" category (denoted
from
the
benchmark
survey
on
the
basis
of
U.S. international transactions are revised to
"International organizations and unallocated"
incorporate new information. Revised annual the sample data reported for those periods
in table 10) consists of affiliates that have
in
BEA's
quarterly
surveys.
Previous
estiestimates for 1960-80 and quarterly estimates
operations spanning more than one country
for 1970-80 are presented in tables 1 and 2. mates for those periods were extrapolations
and that are engaged in petroleum shipping,
of
data
from
the
1966
benchmark
survey.
Revised annual estimates for 1970-80 and
other water transportation, petroleum trad(Estimates
for
1967-76
continue
to
be
extrapquarterly estimates for 1979 and 1980 are
ing, and oil and gas drilling. (Affiliates in
presented in table 3. Revised annual esti- olations of the 1966 survey data). Equity these industries that have operations entirely
and
intercompany
account
outflows
since
1977
mates for 1978-80 and quarterly estimates for
in one country are classified in that country.)
1979 and 1980 are presented in tables 4-10. are as reported in the quarterly sample surIn the previous series, the "International"
veys
;
no
extrapolations
of
universe
data
have
Table lOa presents revised annual estimates
category was defined more broadly; it inbeen
made.
for 1978-80.
The 1977 benchmark survey was a census, cluded, for example, Netherlands Antilles
Seasonal adjustments for current-account
intended to cover the universe of U.S. direct finance affiliates (see below) and some affiliitems and for changes in U.S. Government
investment abroad. Reporting was manda- ates engaged in nonpetroleum trading, other
assets were recalculated by extending through
tory. Reports covering1 3,540 U.S. parent com- finance and insurance, and construction.
1980 the period used to derive seasonal adpanies arid their 24.666 foreign affiliates were
Petroleum trading companies.—Most U.S.
justment factors. The new factors were apreceived. (An additional 11,123 very small petroleum parent companies have trading
plied to quarterly data for 1979 and 1980.
affiliates—those with total assets, sales, and
Effective with data for the first quarter net income of less than $500,000—were subsidiaries, mainly incorporated in the
United States, to purchase foreign-produced
of 1981, detail by area has been adjusted to
exempted from the survey in order to reduce petroleum and to resell it to customers in
reflect the admission of Greece to the European Economic Community; previously the reporting burden on companies. Despite both the United States and third countries.
Greece had been included in Other Western their large number, exempt affiliates account- In the previous series, such subsidiaries were
ed for 1 percent or less of assets, sales, or net classified as foreign or domestic, depending
Europe.
income
of all affiliates. Thus, coverage in largely upon the reporting and consolidation
Two benchmark surveys and a reconciliaterms
of
value was virtually complete.)
practices of the U.S. parent companies. In
tion of U.S. and Canadian current-account
Detailed
findings and a methodology of the processing the 1977 benchmark survey, an
transactions have been completed and the new
information incorporated into the accounts. 1977 benchmark survey were published in attempt was made to classify these subsidiU.S. Direct Investment Abroad, 1977.* Selected aries more consistently, based on certain obThe impact of each is described below.
U.S. parent and foreign affiliate financial and jective criteria; these criteria were also apForeign portfolio investment in the United operating data from the survey were sumplied in deriving the extrapolated series for
States
marized in the April 1981 SURVEY OF CURRENT 1978 forward.
The U.S. Treasury Department has com- BUSINESS.
If a petroleum trading subsidiary met any
pleted its benchmark survey of foreign portof the following criteria, it was usually clas1. Copies may be obtained from the Superinfolio investment in the United States for
sified as a foreign affiliate: (1) the subsidiary
of Documents, U.S. Government Printing
1978. On the basis of these data, dividend tendent
had employees or property, plant, and equipOffice, Washington, D.C. 20402, price $10.00, stock
payments on foreign holdings of U.S. corpo- number 003-010-00079-1.
ment located abroad, (2) the buying and sell-

bond buyers seeking capital gains. Eurobonds newly issued abroad by U.S.
corporations were $0.2 billion; there
were no issues in the previous quarter.
(The treatment of some of the transactions recorded in this account has been
changed; funds raised by Eurobond issues of offshore financial subsidiaries of
U.S. companies and transferred to the
United States are no longer treated as
U.S. securities transactions (table 6,
line B13), 'but are considered direct investment intercompany account transactions between the U.S. parent and its
foreign affiliate (table 5, line 13). (See
Technical Notes.)
Foreign direct investment inflows to
the United States declined slightly to
$2.0 billion. A moderate increase in
equity and intercompany account inflows was more than offset by lower
earnings of manufacturing subsidiaries,
especially automotive companies.




rate stocks have been adjusted for 1977 and
subsequent years.

June 1981
ing of petroleum took place from a foreign
location, (3) the subsidiary paid taxes to a
foreign government, or (4) the subsidiary
was incorporated in a foreign country. If
none of these criteria were met, the subsidiary
was usually treated as domestic (U.S.) and
was included as part of the consolidated U.S.
company. In most cases, the application of
these criteria resulted in the reclassification
of the trading subsidiaries from foreign to
domestic.
In the typical case of a subsidiary that was
reclassified from foreign to domestic, capital
and income transactions with U.S. persons
would have been considered foreign-to-domestic (U.S.) in the previous series and included
in the direct or portfolio investment accounts,
the account depending upon whether the
transactions were with the U.S. parent, as
previously consolidated, or with unaffiliated
U.S. persons; in the revised series, the transactions would be considered purely domestic
and would, therefore, not be included in any
account. On the other hand, the subsidiary's
transactions with foreign persons would have
been considered purely foreign in the previous
series and would, therefore, not have been included in any account; in the revised series,
they would be considered domestic (U.S.-toforeign) and would be included in the direct
or portfolio investment accounts, the account
depending upon whether the transactions
were with foreign affiliates of the U.S. parent,
as newly consolidated, or with unaffiliated foreigners.
Netherlands Antilles finance affiliates.—In,
the previous series, beginning in 1968, intercompany accounts excluded funds that were
borrowed from unaffiliated foreigners, and
then transferred to U.S. parents, by Netherlands Antilles finance affiliates (X.V. affiliates). Such borrowing was treated instead as
direct borrowing abroad by the U.S. parents,
and was included in the portfolio investment
accounts.
Most X.V. affiliates were established by U.S.
companies in response to the U.S. mandatory
controls on direct investment, which were in
effect from 1968 to 1974. The controls encouraged U.S. companies to finance their direct
investments with foreign- rather than U.S.source funds. X.V. affiliates' borrowing abroad
provided certain advantages—such as tax
benefits and lower costs of incorporation—
over direct borrowing by U.S. parents. Except
for these advantages, the U.S. parents themselves would probably have borrowed abroad,
either directly or through their domestic
(U.S.) finance subsidiaries. Almost all of the
proceeds of the X.V. affiliates' borrowing was
in fact transferred to their U.S. parents for
further disposition, often to other foreign affiliates. Thus, instead of recording transfers
of the proceeds to U.S. parents as direct investment intercompany account inflows from




SUEVEY OF CURRENT BUSINESS

37

Table D.—U.S.-Canadian Balance on Current Account
[Billions of U.S. dollars]
1979

1978

U.S.
published
data 1
U.S. receipts:
Goods and services 2
Merchandise exports
Inland freight
Other transportation
Investment income 2
Other services
Unilateral transfers
Total

40.2

....

.
-

... _ . ..

-

Total 2
U.S. current-account balance (U.S. surplus +) 2.

1

Canadian
adjusted
data

50.0
37.9
1.1

50.2

50.2

.6
1.4
2.3
3
.1

43.4
38.5
.8
.5
1.1
2.5
.4

43.4
38.5
.8
.5
1.1
2.5
.4

37.7

43.1

43.7

43.7

3.3

4.1

6.5

6.5

40.7
30 3
.9
.5
4.8

40.2

41.0

41.0

37.0 (
33.6 <
I
.5
.9
2.1
3
.1

37.3
33.1
•7
.5
.8
2.3
.3

37.3
33.1

37.1

37. 6

3.1

3.4

(3)

U.S.
adjusted
data

50. 0
37.9
1.1
.6
6.2
4.1
.2

40.8
30 3
.9
.5
4.8
4.1
.2

[

U.S.
published
data *

Canadian
adjusted
data

(
31.2 1
.5
4.8
3.7

„< n

)

2

U.S. payments:
Goods and services 2
Merchandise imports
Inland freight
Other transportation
Investment income 2
Other services
..
Unilateral transfers

U.S.
adjusted
data

!

4. 1
.2

.5
.8
2.3
.3

47.2
0_ „ (
36.3
I
.6
6.7
3.6
(3)

47.2

1

42.9
38.7

(

.6
6.2
4.1
.2

1. As published in the June 1980 SURVEY OF CURRENT BUSINESS.
2. Excludes reinvested earnings of incorporated affiliates.
3. Published data are net payments.

X.V. affiliates, such transfers were recorded
in the portfolio investment account as increases in the U.S. parents' liabilities to unaffiliated foreigners in Europe (nearly all of
the borrowing took place in Europe). Subsequent reductions in U.S. parents' liabilities to
the X.V. affiliates were recorded as payments
of principal by the U.S. parents to unaffiliated
foreigners in Europe, and interest payments
on the borrowing by the X.V. affiliates were
recorded as interest payments by U.S. parents
to unaffiliated foreigners in Europe. Other
capital transactions between U.S. parents and
their X.V. affiliates, such as increases or decreases in equity, and dividends or other income flows to U.S. parents, were included in
the direct investment accounts but were classified in "International organizations and unallocated" rather than in the Xetherlands
Antilles.
In the years immediately following the dismantling of the direct investment controls in
1974, new borrowing by X.V. affiliates declined, and a smaller proportion of the proceeds were transferred to U.S. parents. Recently, borrowing by X.V. affiliates again accelerated because of favorable conditions in
the Eurobond markets. Although the proceeds
have been largely transferred to the U.S. parents, the parents have tended to use the
funds for general corporate purposes, rather
than, as in the control years, for direct investment. In the revised series, the proceeds
of borrowing by X.V. affiliates that are transferred to U.S. parents are included in direct
investment intercompany account inflows
from affiliates in the Xetherlands Antilles,

rather than as inflows on portfolio investment
from unaffiliated foreigners in Europe. Symmetrical treatment is accorded to repayments
of the borrowing and to associated interest
payments.
Industry classification.—In the previous
series, the industry classification of any given
affiliate was as reported in the 1966 benchmark survey. In the revised series, each affiliate is classified in the industry in which its
sales (or gross operating revenues) were largest in 1977, as reported in the 1977 benchmark survey.
U.S.-Canadian balance on current-account
reconciliations
Reconciliation of the 1979 bilateral currentaccount balance of payments statistics of the
United States and Canada and revision of the
1978 reconciliation were completed in May
1981. The 1979 statistics were fully reconciled.
Full reconciliation of the 1978 statistics was
not possible, however, due to differences in
treatment of investment income transactions
that cannot be satisfactorily resolved. The
results for 1978 and 1979 are contained in
table D.
Revisions based on the reconciliations are
incorporated in the published series insofar
as is presently possible. It is not possible to
substitute fully the reconciled data for the
previously published data because U.S. transactions with other areas would be affected.
Reconciliations for 1970-77 appear in the
June 1975, September 1976, September 1977,
December 1978, and December 1979 issues of
the SURVEY.

SURVEY OF CURRENT BUSINESS

38

June 1981
Table 1.—U.S. International
[ Millions

(Credits +; debits-)'

Line

11
12
13
14
15

Exports of goods and servicesa 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
_. _
Eeceipts of income on U.S. assets abroad:
Direct investment
.
Interest, dividends, and earnings of unincorporated affiliates
Reinvested earnings of incorporated affiliates
Other private receipts
U S Government receipts
- -

16

Transfers of goods and services under U.S. military grant programs, net

17

Imports of goods and services

I
2

3
4
5
6
7
g
9

10

.

--

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

27
28
29
30
31

Payments of income on foreign assets in the United States:
Direct investment
_
Interest dividends and earnings of unincorporated affiliates
Reinvested earnings of incorporated affiliates
Other private payments
U S Government payments

1961

1962

1963

1964

1965

1966

1967

1968

28 861
19 650
335
919
175

29 937
20 108

31 803
20 781

34 214
22 272

38 826
25 501

1 015

241

47 314
30 666
1 152
1 646

52 363
33 626
1 392
1 775

205

1 620

1 764

1 898

2 076
1*013

41 087
26 461
830
1 380
271
2 175
1 199
335
714
285

44 562
29 310
*829
1 590

1 607

402
947
183

656
957
191

590
247
570
153
3,621
2,355
1 266

646
349

-

.

18
19
20
21
22
23
24
25
26

1960

_ _ _

662
244
607
164

800
256
585
195

3 823
2 768
1 055

4 241
3 044
1 197

793
383

890
273
613
236

4 636
3 129
1 507
1 022

904
473

1,695

1 465

-23,729

—23 591

-25,778

—14,758
—3 087
-1,750
-513
— 1 402

14 537
—2 998
— 1 785
—506
— 1 437

16 260
—3 105
—1 939
—567
— 1 558

-35
—40

657

499

1,537

301
651
265

6 106
3 674
1 432
1 256

462

317

371

411

2 333

2 426
1 354

2 548
1 430

393
951
336

1 024

l'l62
353
814
326

5 506
3 063
1 543
1 421
510

5 260
3 467
1 793
1 669
599

437

353

5 603
3 847
1 756
1 781

636

6
4
2
2

591
151
440
021

756

1 636

1 892

2 039

2 547

—29 222

—32 801

—38 599

41 606

-48, 800

17 048
2 961
—2 114
—612
1 701

18 700
—2 880
—2 211
—642
— 1 817

21 510
2 952
—2 438

25 493
3 764
—2 657

— 717
— 1 951

—753
—2 161

26 866
4 378
—3 207
—829
2 157

—32 991
—4, 535
-3, 030
-885
—2, 367

-64
—76

—62
104

—527
—535

—461

—506

550

—565

644

691

—106
-668
—760

—529
—202
—327
—802
—453

—657
—299
—358
—942
—489

—711
—372
—339
— 1 221
—549

—821
—381
—440
— 1 328
—598

-876
—388
—488
-1,800
—702

1 636
2 854
— 1 808
— 369
—677

1 892
—2 932
— 1 910
—367
—655

2 039
3 125
1 805
—441

1 562
—27 047

—57
44

—593
—313

—43
46
—588

—528

406

398

—61
51
493
447

-394
—220
— 174
—511
—332

—432
—194
—238
—535
—278

—399

—459

—214
—586
—339

—701
1 562
2 754
1 917
—262

223
236

185

747
1 207

401

1 340

—67
—60

—68
67

-80

32
33
34
35
36

U S military grants of goods and services, net
Unilateral transfers (excluding military grants of goods and services), net
U S. Government grants (excluding military grants of goods and services)
U.S. Government pensions and other transfers
Private remittances and other transfers

—1 695
—2 308
—1,672
—214
-423

1 465
2 624
—1 855
—235

434

1 537
—2*638
—1 916
—245
—477

575

1 340
—2 781
—1 888
—279
—614

879

—2 547
-2 952
-1,709
-407
-836

37

U.S. assets abroad, net (increase /capital outflow (-))

-4,099

—5 538

—4 174

—7 270

-9,560

—5 716

-7,321

—9 757

-10,977

2,145
1,703

607
857

1 535

890

378
461

171
125

1 225
1,665

570
571

53

-870
1,173

442

— 135
—115

626
19

266

—94

537

— 112

-220

-346

-538

— 1 023

-870
-1,173

—910
—1 928
1,279
—261

—1 085
—2 128
1,288
—245

—1 662
—2 204

-1,680
-2,382

—1 605
—2 463

-2, 274
-3, 722
1, 386

— 16

—1 543
-2,513
1,235
—265

2 423
3 638
1 005

—447

720
-19

209

62

-5, 986
—3 483
—1 976
— 1 507
— 1 105

-8, 050
-3, 760
—2, 328
-1,432
-677

-5, 336
—5,011
—3 468
— 1,543
-759

-6, 347
—5 418
—3 625
— 1 793
—720

—7,386
—4 805
3 049
— 1 756
—1 308

-7,833
-5, 295
-2, 855
-2,440
-1,569

-220
-982

38
39
40
41
42

U S. official reserve assets, net *
Gold
Special drawing
rights
Reserve position in the International Monetary Fund
Foreign currencies

43
44
45
46

U S Government assets other thdn official reserve assets, net
U.S loans and other long-terms
assets
Repayments on U.S. loans 5
- -U S foreign currency holdings and U.S. short-term assets, net

-1,100
-1,214

47
48
49
50
51

U.S. private assets, net
._ _
Direct investment
Equity and intercompany accounts
Reinvested earnings of incorporated affiliates
_
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
_ _ _

-5, 144
-2, 940
-1,674
-1,266
-663

-5, 235
—2 653
— 1 598
—1 055
-762

-4, 623
-2,851
— 1,654
-1, 197
—969

-40
-354

— 127
—431

—132
-222

162
—5

-485
-623

—88
429

— 112
-330

— °81
—498

-153
-995

-136
-1, 125

-126
-324

-775
-781

-981
-1,524

-232

325

317
-84

235

338

-730

-105

2 294

2 705

1 911

3,217

3,643

742

3,661

7 379

9,928

1 473

1 270
1,409
1 410
—1

1 986

1,660

134

655
655

765
233
233

—672
-1,527
-1,548

3 451
2,261
2,222

-774
-769
—798

215
603

25
508

821
315
141
174

1 939

52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75

-- -

642

-528

Foreign assets in the United States, net (increase/capital inflow (+))
Foreign official assets in the United States, net
U.S, Government securities6
U.S. Treasury securities
Other?
Other U.S. Government liabilities 8
_ . ._
U S liabilities reported by 8U S banks not included elsewhere
Other foreign official assets

-

-

Other foreign assets in the United States net
Direct investment
__
Equity and intercompany accounts
Reinvested earnings of incorporated affiliates
U.S. Treasury securities
U.S. securities other than U S Treasury securities
U.S. liabilities to unaffiliated foreigners reported by U.S". nonbanking concerns:
Long-term
Short-term
_
_.
U.S. liabilities10 reported by U.S. banks, not included elsewhere:
Long-term 10
Short-term
Allocations of special drawing rights
Statistical discrepancy (sum of above items with sign reversed)

Memoranda:
76 Balance on merchandise trade (lines 2 and 18)
77 Balance on goods and services (lines 1 and 17) 11
78 Balance on goods, services, and remittances (lines 77, 35, and 36)
_
7£ Balance on current account (lines 77 and 33) ^
Transactions in U.S. official reserve assets and in foreign official assets in the Unite<
States:
8()
Increase (— ) in U.S. official reserve assets, net (line 38)
_
8L
Increase (+) in foreign official assets in the United States (line 57 less line 61) . . _
See footnotes on page 60.




29

988

874

816
803
12
429
742

432
434
-2
298
930

-141
-134

-7
65
210

21
113
742

641
346
132
214
-66
134

1,231

1,983

9«7

3

152
—291

1 170

94

1 106

29
-15
10

3 928

10, 703

39
83

322
—5
327

607
415
57
358

4,333

231
-5
236
-149

-146

-131
—358

-356

—85

906

-135
1 016

4 414

-13
-23

-38
113

29
149

180
296

85
499

715
759

88

425
86
339

698
258
440

807
319
488
136

282

311
73
238
151
324

1
-91

50
176

6
672

—5
933

5
331

53
845

241
262

188

158

72

1,730

2,694

1 607

3 799

1 019

—989

— 1 124

—360

—907

—458

629

—205

438

4 892
5,132
4, 496
2 824

5,571
6,346
5,677
3 822

4,521
6,025
5,303
3,387

5,224
7,167
6,331
4,414

6,801
9,604

4,951
8,285
7,239
5,432

3,817
5,963
4,941
3,031

3,800
5,708
4,388
2 583

3,563
2,320

2, 145
1, 258

607
741

1,535
1,118

1,558

-364

-112

378

8,711
6* 823
171
1,362

1,225

69

570

53

-785

3,368

635
611
-870
-759

SURVEY OF CURRENT BUSINESS

June 1981

39

Transactions
of dollars]
1969

1

1970

1972

1971

1974

1973

1975

1976

1977

1978

1979

1980

Line

57.522
36, 414
1,528
2,043
450
2,652
1,533
486
1,160
343

65,674
42,469
1,501
2,331
544
3,125
1,758
573
1,294
332

68,838
43,319
1,926
2,534
615
3,299
1,927
618
1,546
347

77,495
49,381
1,364
2,817
699
3,579
2,115
655
1,764
357

110,241
71,410
2,559
3,412
975
4,465
2,513
712
1,985
401

146,666
98,306
3,379
4,032
1,104
5,697
3,070
751
2,321
419

155,729
107,088
4,049
4,697
1,039
5,840
3,543
757
2,920
446

171,630
114,745
5,454
5,742
1,229
6,747
3,531
822
3,584
489

184,295
120,816
7,351
6,150
1,366
7,264
3,883
923
3,806
557

221,021
142,054
8,090
7,186
1,603
8,315
4,705
1,055
4,130
620

288,925
184,473
6,609
8,335
2,156
9,899
4,980
1,068
4,187
520

344, 667
223,966
8,231
10,090
2,582
11,430
5,695
1,170
5,207
362

1
2
3
4
5
6
7
8
9
10

7,649
4,819
2,830
2,338
925

8,169
4,992
3,177
2,671
907

9,160
5,983
3, 177
2,641
906

10, 949
6,416
4,532
2,949
866

16, 542
8,384
8,158
4,330
936

19, 157
11,379
7,777
7,356
1,074

16,595
8,547
8,048
7,644
1,112

18,999
11,303
7, 696
8,955
1,332

19,673
13, 277
6,396
10,881
1,625

25, 458
14, 115
11,343
15,964
1,843

38,330
19,366
18,965
26,075
2,294

36, 842
19,845
16,998
36,522
2,572

11
12
13
14
15

2,610

2,713

3,546

4,492

2,810

1,818

2,207

373

203

236

305

635

16

-132,836

-162,248

-193,788

-230,030

-281, 917

-333,888

17

-54, 129

-60,050

-66,569

-79,435

-99,219

-137,357

-35, 807
-4, 856
-3, 373
-1,080
-2,455
-101
-120
-751
-717

-39, 866
-4,855
-3, 980
-1,215
-2, 843
— 111
-114
-827
-725

-45, 579
-4, 819
-4,373
-1,290
-3, 130
-118
-123
-956
-746

-55, 797
12-4,784
-5,042
-1,596
-3, 520
-155
-139
-1,043
-788

-70, 499
12-4, 629
-5,526
-1,790
-4, 694
-209
-176
-1,180
-862

-103,649
-5,032
-5, 980
-2,095
-5,942
-160
-186
-1,262
-967

-98,041
-4,795
-6, 417
-2,263
-5,688
-287
-186
-1,551
-1,044

-124,051
-4,895
-6,856
-2,568
-6,852
-293
-189
-2,006
-1,227

-151,689
-5,823
-7, 451
-2,748
-7, 874
-243
-196
-2, 190
-1,358

-175,813
-7,352
-8, 475
-2,896
-8,911
-393
-214
-2, 566
-1,545

-211,819
-8, 556
-9,413
-3, 184
-10,415
-523
-234
-2, 820
-1,718

-249,308
-10,746
-10,397
-3,607
-10,896
-515
-254
-3,222
-1,769

18
19
20
21
22
23
24
25
26

-848
-417
-431
-3,244
-777

-875
-441
-434
-3, 617
-1,024

-1,164
-621
-542
-2, 428
-1,844

-1,284
-715
-569
-2, 604
-2, 684

-1,610
-699
-910
-4, 209
-3,836

-1,331
-2*6
-1,065
-6,491
-4,262

-2, 234
-1,046
-1, 189
-5,788
-4, 552

-3, 110
-1,451
-1,659
-5, 681
-4,520

-2,834
-1,248
-1,586
-5,841
-5,542

-4,211
-1,628
-2, 583
-8, 980
-8, 674

-6,357
-2, 402
-3, 955
-15,803
-11,076

-9,336
-3, 147
-6, 190
-21, 326
-12,512

27
28
29
30
31

-2,610
-2,994
-1,649
-406
-939

-2, 713
-3,294
-1,736
-462
-1,096

-3,546
-3,701
-2, 043
-542
-1,117

-4, 492
-3,854
-2, 173
-572
-1,109

-2,810
-3,881
-1,938
-693
-1,250

-1,818
13-7, 186
13-5,475
-694
-1,017

-2,207
-4,613
-2,894
-813
-906

-373
-4,998
-3, 146
-934
-917

-203
-4,617
-2, 787
-971
-859

-236
-5,067
-3,183
-1,086
-798

-305
-5,593
3,536
-1, 180
-878

-635
-7,056
-4,659
-1,303
-1,094

32
33
34
35
36

-11,585

-9,337

-12,475

-14,497

-22,874

-34, 745

-39,703

-51,269

-34,785

-61, 070

-62, 639

-84,776

37

2,349
866
—249
1,350
382

158
9
-33
182

-1,467

-849

-2,558

— 172
-1,265
-30

—66
-466
-317

—78
-2,212
-268

-375
-118
— 121
-294
158

732
—65
1,249
4,' 231
-4, 683

-1,133
-65
— 1,136
-189
257

-8, 155

-1,034
822

2,481
787
—851
389
2,156

-4
547
—703
153
-1

— 16
-1,667
-6, 472

38
39
40
41
42

-2, 200
-3,489
1,200
89

-1,589
-3, 293
1,721
-16

-1,884
-4, 181
2,115
182

-1,568
-3, 819
2,086
165

-2,644
-4, 638
2,596
-602

13366
-5,001
13 4,3 826
i 541

-3,474
-5, 941
2,475
-9

-4,214
-6,943
2,596
133

-3, 693
-6,445
2,719
33

-4, 644
-7,470
2,942
-115

-3, 767
-7, 676
3,893
16

-5, 165
-9,812
4,367
280

43
44
45
46

-8,206
-5, 960
-3, 130
-2, 830
-1,459

-10,229
-7, 590
-4,413
-3, 177
-1,076

-12,940
-7, 618
-4,441
-3, 177
-1,113

-12,925
-7, 747
-3,214
-4,532
-618

-20,388
-11,353
-3, 195
-8, 158
-671

-33, 643
-9,052
-1,275
-7, 777
-1,854

-35, 380
-14,244
-6, 196
-8,048
-6, 247

-44, 498
-11,949
-4, 253
-7, 696
-8, 885

-30, 717
-11,890
-5, 494
-6, 396
-5, 460

-57, 159
-16,056
-4,713
-11,343
-3,582

-57, 739
-23, 949
-4, 984
-18,965
-4,552

-71,456
-18,546
-1,548
-16,998
-3,310

47
48
49
50
51

-424
298

-586
-10

-168
-1,061

-243
-811

-396
-1,987

-474
-2, 747

-366
-991

-42
-2, 254

-99
-1,841

"-3,026

"-2,653

(52
153

297
-867

155
-1,122

-612
-2,368

-1,307
-2, 199

-933
-5,047

-1,183
-18,333

-2,357
-11, 175

-2,362
-19,006

is-26,213

15-46,947

(54
(55

-1,179
-967

-751
-10,676 [

-53
-3, 800 [

is-33, 667

12,702

6,359

22,970

21,461

18,388

34,241

15,670

36,518

51, 218

63,748

38,946

50, 261

56

-1,301
-2, 343
-2, 269
-74
251
792

6,908
9, 439
9,411
28
-456
-2, 075

26,879
26, 570
26, 578
-8
-510
819

10, 475
8,470
8,213
257
182
1,638
185

6,026
641
59
582
936
4,126
323

10,546
4,172
3,270
902
301
5,818
254

7,027
5,563
4,658
905
1,517
-2, 158
2,104

17, 693
9,892
9,319
573
4,627
969
2,205

36, 816
32, 538
30, 230
2,308
1,400
773
2,105

33, 561
24, 221
23, 555
666
2, 359
5, 551
1,430

-13,757
-21,972
-22, 435
463
-133
7, 213
1,135

15, 492
11, 870
9,683
2.187
636
-159
3, 145

57
58
59
00
61
62
63

14,002
1,263
832
431
-68
3,130

-550
1,464
1,030
434
81
2,189

-3,909
367
-175
542
-24
2,289

10, 986
949
380
569
-39
4,507

12, 362
2,800
1,890
910
-216
4,041

23,696
4,760
3,695
1,065
697
378

8,643
2,603
1,414
1,189
2,590
2,503

18, 826
4,347
2,687
1,659
2,783
1,284

14, 403
3,728
2,142
1, 586
534
2,437

30, 187
7,897
o, 313
2,583
16 2, 178
2,254

52, 703
11,877
7,921
3, 955
18
4, 820
1,334

34, 769
10,854
4,664
6,190
I* 2, 679
5, 384

64
65
66
67
68
69

701
91

1,112
902

384
-15

594
221

298
737

-90
1,934

406
-87

-1,000
422

-347
1,332

-190 1
1,907

14 2 065

14 ^ 1QQ

160
8,726

-250
-6,661
717
-9,779

149
4,605
710
-1,879

227
4,475

9
16,008

-280
908

231
10, 759

373
6,346 }

16, 141

-1,516

23
-6,321
867
-219

-2,654

-1,620

5,753

10, 367

-2,323

11,398

007
3,393
2,048
399

2,603
5,625
4,067
2,331

-2,260
2,269
610
-1,433

-6, 416
-1,941
-3,622
-5, 795

911
11,021
9,078
7,140

-5, 343
9,309
7,599
2,124

9,047
22, 893
21, 175
18, 280

-9, 306
9,382
7, 531
4,384

-30, 873
-9, 493
-11,323
-14,110

-33, 759
-9,008
-10,892
-14,075

-27, 346
7,008
4, 950
1,414

-25,342
10, 779
8,382
3,723

76
77
78
79

-1,179
-1,552

2,481
7,364

2,349
27, 389

-4
10, 293

158
5,090

-1,467
10, 244

-849
5,509

-2, 558
13,066

-375
35, 416

732
31,202

-1, 133
-13,624

-8, 155
14, 856

80
81




32, 607
1,139
21, 140

( 70
I 71

72
10,743 (
I
73
1,152
74
29,640
75

SURVEY OF CURRENT BUSINESS

40

June 1981
Table 1.—U.S. International
[ Millions

19 -o

(Credits +; debits -) i

Line

Exports of goods and services 2
4
g
7
n
tr»
11
19
1 0

14

15

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 on U.S. assets abroad:
Direct investment
__ -_
Interests dividends and earnings of unincorporated affiliates
Reinvested earnings of incorporated affiliates
Other private receipts
U S Government receipts
_ _ _ _ _ _

ifi

Transfers of goods under U S. military grant programs, net

17

Imports of goods and services

18
19
20
21
22
23
24
25
26

Merchandise adjusted excluding military 3
Direct defense expenditures
_
Travel
_ _
Passenger fares
Other transportation
_
__ __ _ _ _
Fees and royalt'es to affiliated foreigners
Fees and royalties to unaffiliated foreigners
_
Private payments for other services
_
_
U S Government payments for miscellaneous services

27
28
29
30
31

Payments of income on foreign assets in the United States:
Direct investment
Interest dividends and earnings of unincorporated affiliates
Reinvested earnings of incorporated affiliates
Other private payments
U S Government payments
_

I

II

III

IV

I

II

15 670

17 234

16 092

16 679

16 964

17 926

17 329

16 619

10 247
507
103
704
3909
13
316
81

11 149
487
6?4
143
805
449
140
317
83

10 141
313
699
181
845
429
147
327
86

10 932
433
501
117
772
490
154
334
83

11 031
484
552
124
774
425
155
359
85

11 341
577
653
157
892
479
155
377
98

10 855
433
751
190
913
451
154
396
80

10 092
432
578
144
720
573
153
414
84

9 069
1 391
678
653
200

2 114
1 196
988
684
240

2 085
1 112
973
661
179

1 902
] 364
538
673
288

2 141
1*268
873
660
173

2 324
1 514
810
64°
231

2 288
1 119
1 169
648
171

2 406
2 081
*325
692
331

559

739

735

680

883

875

733

1 056

— 13 942

— 15 260

— 15 692

— 15 156

—14 958

— 17 285

— 17 931

— 16 396

9 474
— 1 178
—632
—224
—606
23
32
— 196
161

— 10 034
— 1 259
— 1 046
—382
— 728
30
_ 99
—208
151

—9 836
— 1 211
— 1 607
—398
—789
—28
—27
—212
— °10

— 10 522
— 1 208
-695
-211
—719
—30
—26
—211
—202

— 10 471
— 1 174
—731
—210
—719
—29
—27
—231
—151

— 11 975
— 1 206
—1 165
—428
—818
27
—29
—238
159

— 11 845
— 1 203
— 1 677
-392
—859
—30
—32
—244
231

— 11 288
— 1 236
—800
-260
—734
—32
—35
—243
—205

—216
— 125
91
—995
—904

—217
—97
120
_033
—943

—217
—98
— 119
—884
—273

—224
— 120
— 104
—805
—304

—255
— 177
78
—641
—320

—293
— 137
156
—555
—390

—304
— 160
—144
—602
—512

—312
— 147
—164
—630
—622

9gg

__

__ _
-__ _

_ _

_

19''1
IV

III

32
33
34
35
36

U.S. military grants of goods and services, net
Unilateral transfers (excluding military grants of goods and services), net . _
U.S. Government grants (excluding military grants of goods and services)...
U.S Government pensions and other transfers
Private remittances and other transfers
_

—559
—793
-444
— 100
—949

—739
—862
-444
— 118
—301

—735
—805
-400
— 122
—283

—680
—833
-448
— 122
—264

—883
—827
-466
— 124
— ?3S

—875
—942
-525
— 149
—275

—733
—947
-504
— 138
-305

— 1 056
—986
-548
— 138
-300

37

U.S. assets abroad net (increase/capital outflow (— ))

3 584

—2 65*

— 1 573

—3 282

—2,987

—2 620

1 025
14
—37
°27
821

802
395
—34
406
35

— 1 525
'
1 040
'422
140
9
469

—3 585

—386

151
109
-592
255
379

839
456
196
252
— 65

1 377
300
150
851
76

— 18
1
-3
—8
—8

—352
—704
308
44

—312
— 783
514
—43

-663
— 1,258
515
80

—656
— 1 299
564
79

—318
-732
408
6

—246
—891
628
17

38
39
40
41
42

U S official reserve assets net 4
Gold
Special drawing rights
_ _
Reserve position in the International Monetary Fund
Foreign currencies
-

43
44
45
46

U.S. Government assets, other than official reserve assets, net
U.S. loans and other long-term
assets
_. _
._
Repayments on U S loans 5
U.S. foreign currency holdings and U.S. short-term assets, net

_ _

—485
—877
373
9Q

—440
—929
526
—37

47
48
49
50
51

U.S. private assets net
Direct investment
_ _
_
Equity and intercompany accounts
Reinvested earnings of incorporated affiliates
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
_ _ _
_ _

—2 713
—2 °30
— 1 55?
—678
—306

—3 239
—2 617
— 1 699
—988
80

—2 023
— 1,755
— 782
—973
-517

—2 253
—988
—450
—538
-333

-3, 073
-2,365
— 1,492
-873
-408

—3 465
—2, 411
— 1 601
—810
-368

-4,046
-2, 386
— 1 217
-1, 169
-346

—2,356
-456
-131
-325
9

—381
—59

— 12
— 145

— 129
72

-64
122

-33
-391

1
-180

-37
-207

-99
-283

14
249

49
—594

12
293

80
-1,070

15
109

—153
-355

-247
-822

—227
-1,300

1 707
2 321
1 758
1 760
—2
—41
604

1 767
789
1,738
1 706
32
—257
-692

2 135
1,840
2,735
2,737
-2
31
—926

750
1,958
3,208
3 208

5 913
5,543
5,305
5,309
-4
—79
316

9,194
11,108
10, 724
10, 726
-2
-215
599

5,405
5,738
5,745
5,745

— 189
— 1,061

2,458
4,490
4,796
4,798
-2
—84
-223

—614
582
491
91
16
304

978
224
104
120
—35
374

295
364
245
119
1
720

-1,208
294
190
104
99
792

-2,032
196
118
78
179
559

371
140
-16
156
1,862
196

-1,914
-293
-437
144
-795
626

-334
325
160
164
-1,270
908

90
100

325
168

200
211

497
423

164
-265

32
-79

-191
168

379
161

7
—1 713
867
75

19
—97

22
—1,223

-25
-3,288

-61
-1,720

-71
-1,358

34
-870

86

-152
-2,713
717
-769

-2,331

-4,658

-2, 021

52
53
54
55
56
57
58
59
60
61
62
63

Foreign assets in the United States, net (increase/capital inflow (+))
Foreign official assets in the United States, net
U.S. Government securities
U.S. Treasury
securities *
Other 7 .
.
Other U S Government liabilities 8
U.S. liabilities reported by U.S.
banks, not included elsewhere
9
Other foreign official assets
__ _ _

_ _

AA

—920
_ 953
831

_ _

64
65
66
67
68
69

Other foreign assets in the United States, net
_ _ __
Direct investment
__ _ _
Equity and intercompany accounts
__
Reinvested earnings of incorporated affiliates .
U.S. Treasury securities
U.S. securities other than U.S. Treasury securities..
__ __ _
U.S. liabilities to unaffiliated foreigners reported by U.S. nonbanking
concerns:
70
Long-term
71
Short-term
_ ___ _ _ _ _ _ _ ___ __
U.S. liabilities
reported by U.S. banks, not included elsewhere:
72
Long-term1010
_ _
_ _
__
73
Short-term
74 Allocations of special drawing rights
75 Statistical discrepancy (sum of above items with sign reversed) .
Memoranda:
76 Balance on merchandise trade (lines 2 and 18) ll
77 Balance on goods and services (lines 1 and 17) _ _
78 Balance on goods, services, and remittances (lines
77, 35, and 36),..
_ _ ._
79 Balance on current account (lines 77 and 33) n
_ ._
Transactions in U.S. official reserve assets and in foreign official assets in the
United States:
80
Increase (— ) in U.S. official reserve assets, net (line 38).. _
81
Increase (+) in foreign official assets in the United States (line 57 less line 61) . _

Digitized for See
FRASER
footnotes on page 60.


-134
127

-224

-156

773
1,728
1,379
935

1,115
1, 974
1,556
1,112

305
400
-5
-405

410
1,522
1,137
689

560
2,006
1,645
1,179

-634
641
224
-300

-990
-602
-1,045
-1,549

-1,196
223
-215
-763

-386
2,362

1,025
1,046

802
1,809

1,040
2,147

151
4,573

839
5,621

1,377
11,323

-18
5,872

SURVEY OF CURRENT BUSINESS

June 1981

41

Transactions—Continued
of dollars]
19 n

I

II

19 74

L973

in

IV

I

II

III

IV

I

II

1975

III

IV

I

II

III

IV

Line

18,368

19, 123

18,616

21,388

23,877

27,049

27,231

32,084

34,258

37,753

35,340

39,315

38,845

38,550

36,696

41,639

1

11,916
349
604
135
789
473
157
432
83

12, 074
368
742
180
904
531
161
439
95

11,619
285
840
216
957
510
166
442
90

13, 772
362
631
167
929
602
171
451
89

15, 610
382
788
197
1,005
570
172
466
84

17,642
558
860
243
1,134
589
176
483
99

17,220
556
1,007
323
1,215
646
180
504
128

20, 938
1,063
757
212
1,111
709
184
532
90

22, 767
700
951
233
1,263
670
186
546
89

25,295
950
1,005
266
1,488
754
187
561
106

23,154
809
1,180
355
1,500
746
189
588
112

27,090
921
896
249
1,446
900
189
626
113

27,262
957
1,207
223
1,375
827
189
668
102

26,850
918
1,150
224
1,485
898
189
708
137

24,638
982
1,320
370
1,501
846
189
746
106

28,338
1,193
1,020
222
1,479
971
191
797
101

2
3
4
5
6
7
8
9
10

2,534
1,338
1,196
708
188

2,735
1,397
1,338
697
198

2,561
1,408
1,153
752
179

3,119
2,273
846
793
302

3,520
1,926
1,593
879
204

4,059
1,858
2,201
988
218

4,110
1,761
2,349
1,160
183

4,854
2,840
2,014
1,304
331

5,215
2,832
2,383
1,396
244

5,118
2,233
2,885
1,746
276

4,382
2,293
2,090
2,106
220

4,441
4,022
420
2,108
335

3,907
1,991
1,916
1,920
207

3,930
1,928
2,002
1,801
260

3,799
1,844
1,955
1,933
267

4,959
2,784
2,176
1,990
378

11
12
13
14
15

1,245

982

1,290

976

723

868

785

433

405

565

352

4%

787

1,202

55

163

16

-20,873

-22,295

-25, 118

-25,324

-26, 482

-29,090

-35, 169

-36,590

-36,508

-33,073

-31,74i

-33, 755

-34,264

17

-16, 178 -17,630
-1,169 12-1,231
-1,584
-930
-610
-358
-1, 158
-1,055
-49
-56
-40
-43
-290
-287
-174
-173

-17,278
-1,067
-1,995
-510
-1,270
-46
-46
-293
-283

-19,413
-1,162
-1,017
-312
-1,212
-58
-47
-309
-232

-22, 103
-1, 153
-1,013
-378
-1,261
-43
-48
-307
-185

-26, 514
-1,298
-1,661
-685
-1,486
-41
-47
-313
-194

-26, 920
-1,265
-2, 115
-595
-1,603
-38
-46
-314
-349

-28, 112
-1,316
-1,191
-437
-1,593
-38
-45
-328
-239

-24, 931
-1,317
-1,138
-475
-1,398
-81
-46
-360
-198

-23, 082
-1,185
-1,649
-664
-1,351
-83
-47
-375
-220

-24, 178
-1,096
-2,300
-657
-1,463
-54
-46
-394
-303

-25, 850
-1, 198
-1,330
-467
-1,476
-69
-47
-422
-323

18
19
20
21
22
23
24
25
26

-364
-45
-319
-1,268
-967

-360
-81
-279
-1,524
-1,047

-410
-11
-399
-1,845
-1,090

-197
-128
-69
-1.855
-1,157

-428
-243
-185
-1,514
-1,187

-601
-257
-344
-1>387
-1, 101

-704
-276
-428
-1,419
-1,140

-502
-270
-232
-1,468
-1, 113

27
28
29
30
31

-405

-2, 609
-107
-233

-565
-1,944
-1,481
-189
-275

-352
-1,224
-764
-204
-257

-496
-1,068
-622
-194
-252

-787
-1,163
-751
-200
-212

-1,202
-1,204
-803
-197
-203

-55
-1,018
-565
-204
-250

-163
-1,229
-776
-213
-241

32
33
34
35
36

-6, 142

-18,503

-19,755

-20,305

-13,358
-1,222
-862
-280
-820
-38
-31
-258
-164

-13,643
-1,272
-1,364
-527
-859
-39
-34
-264
-173

-13,709 -15,087
-1,105 "-1,185
-1,873
-943
-303
-486
-929
-913
-34
-43
-38
-36
-264
-256
-245
-206

-272
-187
-85
-585
-614

-335
-179
-157
-612
-631

-292
-138
-154
-670
-687

-386
-212
-174
-737
-752

-404
-144
-260
-814
-830

-435
-184
-252
-955
-960

-364
-176
-188
-1,159
-1,014

-406
-195
-211
-1,282
-1,031

-1,245
-995
-605
-142
-248.

-982
-1,024
-598
-142
-284

-1,290
-945
-536
-121
-288

-976
-890
-435
-166
-289

-723
-745
-376
-172
-197

-868
-1,103
-685
-171
-247

-785
-877
-449
-179
-250

-433
-1,157
-429
-172
-556

-4,912

-2,501

-3,211

-3,873

-8,009

-4, 441

-3,030

-7,394

-90
544
— 710
-1
77

-60

96
3

50

213

7
185
-252

-15
108

-16
66

-13
226

-6

-13
-10

(*)
-15
-28

-302
-904
494
108

-340
-953
600
14

-456
-817
347
14

-469
-1,144
644
30

-680
-1,301
651
-30

-483
-1,337
879
-25

-533
-1,027
463
31

-948
-974
604
-579

-4, 519
-2,766
-1,570
-1,196
-476

-2, 101
-1,743
-406
-1,338
-318

-2,851
-2, 192
-1,040
-1,153
203

-3, 454
-1,046
-199
-848
-28

-7,542
-3,800
-2, 207
-1,593
55

-3,969
-2, 918
-717
-2, 201
-86

-2, 474
-2, 075
275
-2, 349
-196

-74
-238

-64
-114

20
-157

-125
-302

-136
-673

-50
-152

-189
-777

-346
484

-360
-365

-412
-1,541

-273
-2, 715

-326
-437

4,148
2; 473
3,042
2,806
236
-131
-438

4,730
857
196
173
23
62
598

6,859
5,545
5,324
5,326
-2
85
74
62

5,724
1,601
-92
-92
166
1,404
123

10,743
9,937
8,535
7,809
726
166
997
239

1,675
-136
-221
85
-3
1,059

3,873
373
216
157
-83
961

1,315
309
156
154
-12
718

4,123
402
229
174
59
1,769

-83
45

226
42

142
-44

200
592
710
1,185

83
2,272

13
-2,949
13

-10,702

-7,631

-10,270

-10,875

-9,882

-4,980

-13,966

37

-246

-358

-1,002

139

-327

-28

-333

-161

— 123
-728
-151

—20
-84
243

—4
-307
-16

— 16

-209
-37

—29
-244
-85

-5

—^5
-95
-213

—21
-57
-83

38
39
40
41
42

1,212
-1,331
2, 723
13-181

222
-1,318
948
591

-216
-858
498
144

-851
-1,495
656
-13

-1,088
-1,660
542
29

-883
-1,583
707
~

-623
-1,245
574
45

-877
-1,453
653
-76

43
44
45
46

-6, 402
-2, 560
-546
-2, 014
-445

-7, 107
850
3,233
-2, 383
-600

-10,565
-2, 128
757
-2,885
-272

-6, 413
-4, 460
-2, 370
-2, 090
-282

-9,557
-3,314
-2, 894
-420
-699

-9, 459
-4, 109
-2, 193
-1,916
-1,931

-8, 971
-4, 274
-2,272
-2,002
-985

-4,022
-1,495
460
-1,955
-938

-12,928
-4,366
-2.190
-2, 176
-2, 393

47
48
49
50
51

-155
-347

-55
-815

-128
-1,985

(*)
-588

-138
411

-208
-585

176
123

-510
-2, 018

-178
-5,066

-913
-6,664

88
-2, 032

3,056
-403
-2, 562
-2, 750
188
388
1,688
84

2,167
-772
-1,562
-1,564
2
133
657

2,422
-2, 736
-3, 770
-3,436
-334
250
784

6,314
-1, 138
-1,132
-903
-229
10
-22
6

9,662
4,434
3,082
2,946
136
-53
1,341
64

806
631
371
260
-119
1,718

3,458
835
583
252
-185
489

2,940
539
351
188
-205
1,173

5,159
795
584
211
293
662

7,452
1,784
1,465
319
136
712

309
178

244
2

60
-6

182
272

-188
469

-73
274

-61
1,467

153
-1,823

78
2,187

28
951

-573

-1,015

-1,476

-3,572

558

-1,442
-136
-526
-1,131

-1,569
-632
-1,058
-1,656

-2,090
-1,689
-2, 098
-2,634

-1,315
516
60
-375

-568
1,582
1,214
838

-90
2,604

-60
794

96
5,460

50
1,435

213
9,771




11

9
8

-23

-43

13
13

23
330

75
37

-130
-809

-334
-549

52
53

-180
-4, 571

-461
-3,311

-359
-3, 466

-618
-31

-919
-4, 367

54
55

9,103
3,062
-514
-905
391
331
3,246
—1

9,163
4,188
2,736
2,132
604
14
1,253
185

2,587
3,419
5,858
5,358
500
395
-3, 203
369

3,971
2,244
845
780
65
360
591
448

2,691
-1,731
-2, 822
-2, 847
25
246
320
525

6,421
3,095
1,682
1,367
315
517
134
762

56
57
58
59
60
61
62
63

5,228
539
260
279
-240
363

6,041
1,610
1,211
399
200
227

4,975
828
759
69
601
-925

-832
278
93
185
692
344

1,727
870
526
344
-390
385

4,422
86
-342
428
2,124
737

3,328
1,369
1,137
232
164
1,038

64
56
66
67
68
69

-41
395

-364
754

-160
399

475
386

360
-1

61
-6

-124
-39

109
-41

70
71

-32
3,160

155
4,311

7
4,169

-40
3,805

-113
3,723

-25
-2, 479

-287
1,094

-114
1,752

146
541

-167

527

-2,391

400

1,002

-631

3,679

309

366

1,399

72
73
74
75

12
1,931
1,513
828

-58
1,907
1,478
1,029

1,525
5,602
4,874
4,445

664
5,168
4,828
2,219

-1,219
2,584
2,121
640

-3,766
-1,250
-1,710
-2, 474

-1,022
2,806
2,360
1,738

2,331
5,772
5,360
4,609

3,768
6,806
6,406
5,603

460
2,941
2,488
1,923

2,488
7,375
6,922
6.H6

76
77
78
79

11
-790

-23
-905

-43
-2,986

-246
-1, 148

-358
4,487

-1,002
2,731

139
4,174

-327
3,024

-28
1,884

-333
-1,977

-161
-2, 578

80
81

SURVEY OF CURRENT BUSINESS

42

June 1981
Table 1.—U.S. International
[Millions

(Credits +; debts -)

Line

I

12
13
14
15

Exports of goods mid services ^
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 on U.S. assets abroad:
Direct investment
Interest dividends and earnings of unincorporated affiliates
Reinvested earnings of incorporated affiliates
Other private receipts
U S Government receipts

16

Transfers of goods and services under U.S. military grant programs, net.

17
18
19
20
21
22
23
24
25
26

Imports of goods and services
Merchandise adjusted excluding military 3
Direct defense expenditures
Travel
_ _ _ _ __ __ _
Passengpr 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 investment
__
Interest dividends and earnings of unincorporated affiliates
Reinvested earnings of incorporated affiliates
Other private payments
U.S. Government payments
--

2
3
4
^7
g
Q

10
11

27
28
29
30
31
32
33

-

_
-

—
-- --

_

36
37

U.S. assets abroad net (increase/capital outflow (-))

38
39
40
41
42

U.S. official reserve assets net *
Gold
Special drawing rights
Reserve position in the International Monetary Fund
Foreign currencies
--

43
44
45
46

U S Government assets other than official reserve assets net
U S loans and other long-term
assets
Repayments on U S loans 5
U S foreign currency holdings dnd U S short-term assets, net

47
48
49
50
51

U.S. private assets, net
.
-- -Direct investment
Equity and intercompany accounts
Reinvested earnings of incorporated affiliates
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

52
53
54
55

-

-

--

-

-

56
57
58
59
60
61
62
63

Foreign assets in the United States, net (increase/capital inflow (+))
Foreign official assets in the United States, net
_
._
U.S. Government securities
6
U.S. Treasury securities
Other 7
Other U.S. Government liabilities8
- ,
U.S. liabilities reported by 9U S banks not included elsewhere
Other foreign official assets

64
65
66
67
68
69

Other foreign assets in the United States, net
-Direct investment
Equity and intercompany accounts
Reinvested earnings of incorporated affiliates
U.S. Treasury securities
_ .
U.S. securities other than U S Treasury securities
U.S. liabilities to unaffiliated foreigners reported by U.S. nonbanking
concerns:
Long-term
.
._
Short-term
U.S. liabilities10reported by U.S. banks, not included elsewhere:
Long-term 10.
__
Short-term
Allocations of special drawing rights
Statistical discrepancy (sum of above items with sign reversed). .

70
71
72
73
74
75
76
77
78
79
80
81

._
-

Memoranda:
Balance on merchandise trade (lines 2 and 18)
B alance on goods and services (lines land 17)n
Balance on goods, services, and remittances (lines
77, 35, and 36)
Balance on current account (lines 77 and 33)n
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 38) _ . ._ .
_ .__
Increase (+) in foreign official assets in the United States (line 57 less line 61) .,

See footnotes on page 60.




II

III

IV

I

II

III

IV

40 599
27 301
1 237
1,320

43 470
29 419
1,152
1,482

41 964
27 433
1 424
1,748

45 597
30 592
1 641
1 192

44 360
29 417
1 789
1 417

45 153
28 993
1 839
1 787

46 696
30 314
1 882
1 371

1 581

1 744

1 676

48 086
3'? 092
1*842 i
1 575 l
348
1 920 ''•

1 913

1 756
1 114

228

U.S. military grants of goods and services, net
Unilateral transfers (excluding military grants of goods and services), net
U.S. Government grants (excluding military grants of goods and services)...
U.S Government pensions and other transfers
Private remittances and other transfers
--

34
35

197 7

19 "6

l

300

428

1 670

1 751

841
195
824
125

888
201
876
122

857
209
924
118

4 587
2 824
1,763
2,075

4 888
2,383
2,505
2, 151

4 368
2 377
1 991
2,376

273

247

945
217
961
124

852
221
948
136

3 719
1 438
2,354

4 853
3 045
1 808
2 479

5 070
3* 346
1 725
2 547

947
226
940
134

456

315

970
234
946
153

243
973
134

4 682
3 091
1 591
2,791

5 068
3 796
1 273
3 063

390

464

286

321

328

397

50

87

152

83

39

53

31

79

—36 817
—28, 137
-1,157
-1,262
-559
— 1,549

-39,895
-30, 368
-1,219
-1,765
-752
-1,661

—42 504
-31, 937
-1,237
-2, 391
-723
— 1,826

—43 032
—33, 609
— 1, 282
-1,438
-534
— 1,817

—45 750
—36 487
-1,367
-1,387
-602
— 1,881

—48 871
—38 228
-1,462
-2, 019
-841
— 1, 987

—49, 122
—37, 755
-1,483
-2,500
-755
—2, 039

—50 046
—39 219
— 1,511
-1,545
-550
— 1,967

—452
—249

-483
—246

-523
—432

—549
—300

—539
—348

-540
-332

-545
—320

—566
—359

-892
—350
—541
— 1,359
-1,069

-726
-301
-425
-1,457
-1,085

-724
—274
-450
-1,439
-1,167

-768
—526
—243
— 1,426
-1,199

-577
—238
—339
-1,256
-1,189

-726
—278
—448
-1,508
-1,393

-803
—370
—434
— 1,713
-1,689

-87

-87
—47

-85
-47

-58
—47

-64
—48

397

-69
—48

-39

444

-52
—48

-727
-362
-365
-1,364
-1,271

-53

-49
—49

-74
—50

-79

-31

-1,002
-541
-227
-233

-1,086
-642
-230
-214

-152
-1,889
-1,424
-238
-227

-1,021
-539
-239
-243

-1,091
-632
-240
-219

-1,279
-811
-232
-236

-1,238
-777
-254
-208

-1,009
-567
-246
-196

-12,667

-12,045

-10,448

-16,109

-1,437

-12,339

-6,258

-14,751

-777

-1,580

-408

207

-420

-24

112

-45

14

-9
133
-12

-43
-60
-29
42
4

—50

-237
-495

-798
-796

-18
-716

326

-83

697

27

-83
-80
139

-1,039
-1,649

-1, 124
-1,772

-820
-1,453

-1,047
-1,746

-703
-1,475

656
43

752
20

107
-2,057
-250
-1,808
-749

-11,495
-4,005
-2,280
-1,725
-1,784

-5, 323
-2, 677
-1,086
-1,591
-2, 177

-14,006
-3, 152
-1,879
-1,273
-749

-29
-461

—942
-1,551

-949
-1,884

-1,284
-1.860

661
—52

785
150

558
17

592
18

-10,948
-4,033
-2, 270
-1,763
-2, 467

-9,516
-2,327

-8, 756
-3, 301
-1,311
-1,991
-2, 751

-15,277
-2,288
-850
-1,438
-2, 262

178
-2,505
-1,405

—68
-389

580
68

731
-98

-191
-556

-23
639

37

7

50

201

-1,134

-1,203

-778

-1, 174

1,109

-357
-998

-289
-3, 412

-377
-4,409

-978
-2,342

-718
-8,843

-306
3,990

18
-4,600

-447
-1,332

-8, 734

7,470
3,699
2,066
1,998

7,953
4,039
2,481
2,165

8,820
2,958
1,327
1,261

12,276
6,997
4,018
3,895

2,862
5,554
5,403
5,305

14.135
7,888
5,763
5,153

1,638
-531

1,731

-725

323

250

610
391
752
982

5,862

5,279

-2, 693

6,247

135

1,376
—412

669

316
688
181
689

3,771
1,472

3,914
1,086

68

930
541
437

1,036

-231

385

661
425
-591

134
-145

-86

66

524

999
549
450

3,025

64

-247

63

123
925

790
547
243
-88
51

-377

60

98
626

980
641
339
981
749

-89
-9

965
600
365

-1, 399

589
-157

10

14,227 !
8,257 i
7,551
6,924

627
367

-163

502

i

55 i
664 i

763
-156
667

l

104

194

6,136

2,446

75

277

42

1,883

4,567

-5, 346

2,417

1,610

4,057

2,289

1,056

-836
3,782
3,322
2,781

-949
3,575
3,131
2,489

-4,504
-540
-1,005
-2, 429

-3,017
2,565
2,083
1,544

-7, 070
-1,389
-1, 848
-2, 480

-6, 136
-785
-1,253
-2,064

-777
2,323

-1,580
3,351

-408
1,320

207

-420
4,928

-24

112

6,072

7,497

7,890

268

-299

1,251

-16

777

973
16
909
371

760
327
434

575
448
337

19,994
15, 117
13, 821
12, 848

4,878

5,970
1,023

3,532

-105

-16

-2,761 !
-8, 762
-3, 969
-4, 431
-5, 208

33
3,110

-885
-8,905
-3, 349
-3, 791
-4, 358

-43
15, 101

SURVEY OF CURRENT BUSINESS

June 1981

43

Transactions—Continued
of dollars]
19 78

18 79

1980

1981

Line

I

II

48,759
30,686
2,099
1,659
305
1,907
1,054
254
1,012
133

55,641
36,732
1,982
1,872
364
2,047
1,112
262
1,031
167

53,983
34, 539
1,953
2,068
533
2,248
1, 134
268
1,040
172

5,869
3,200
2,669
3,400
382

5,978
3,809
2,170
3,575
519

5,532
2,972
2,560
4,103
394

i

IV

I

II

62,639
40, 097
2,056
1,587
402
2,113
1,405
271
1,046
148

65,013
41, 694
1,894
1,850
413
2,257
1,112
268
1,049
122

70,578
45, 138
1,705
2,239
524
2,534
1,183
267
1,046
151

71,933
44, 959
1,599
2,361
704
2,595
1,218
266
1,037
176

81,400
52,682
1,411
1,885
515
2,513
1,468
266
1,055
71

85,384
54,462
1,738
2,184
503
2,735
1,265
280
1,217
84

85,410
57, 144
2,085
2,595
633
2,981
1,339
289
1,288
77

83,662
53,738
2,272
2,977
884
2,895
1,413
297
1,333
125

90,212
58,622
2,136
2,334
562
2,820
1,678
304
1,369
75

93,256
60,305
1,969
2,460
582
2,962
1,379
312
1,413
82

1
2
3
4
5
6
7
8
9
10

8,079
4,134
3,945
4,887
548

8,065
3,905
4,160
5,801
488

9,398
4,549
4,849
5,883
513

9,879
4,914
4,965
6,572
566

10,989
5,999
4,991
7,819
727

11,714
5,787
5,927
8,700
502

7,306
3,418
3,888
9,142
533

8,700
4,916
3,783
8,352
677

9,123
5,723
3,399
10,329
861

8,483
4,488
3,996
12,503
807

11
12
13
14
15

193

16

IV

III

III

II

IV

III

IP

76

49

62

49

29

49

88

139

144

-53,240
-41,819
-1,680
-1,523
-640
-2,063
-100
-52
-611
-364

-57,501
-44, 062
-1,752
-2, 176
-882
-2, 143
-92
-53
-629
-380

-58,991
-44,137
-1,874
-2,994
-798
-2,379
-98
-54
-652
-350

-60,298
-45.795
-2,045
-1,782
-576
-2, 326
-104
-56
-675
-450

-62,002
-46, 671
-2,028
-1,708
-669
-2,415
-125
-57
-691
-350

-$8,573
-51,354
-2, 029
-2, 575
-975
-2, 586
-126
-58
-702
-357

-73,098
-54,052
-2,164
-3, 187
-889
-2, 744
-119
-59
-702
-596

-78,244
-59,742
-2,334
-1,943
-651
-2, 670
-153
-60
-726
-415

-85,093
-64, 993
-2,656
-2, 026
-740
-2,714
-138
-62
-782
-406

-83, 176
-62, 482
-2, 512
-2, 680
-1,099
-2, 776
-154
-63
-807
-426

-81,042
-59, 048
-2, 727
-3,526
-1,042
-2,683
-95
-64
-830
-492

-84,577
-62, 785
-2, 851
-2, 165
-726
-2, 723
-128
-66
-803
-446

-88,389
-65, 527
-2,670
-2, 369
-1,014
-2,663
-192
-67
-905
-451

17
18
19
20
21
22
23
24
25
26

-630
-324
-306
-1,815
-1,943

-1,262
-431
-831
-1,995
-2, 074

-1,261
-465
-796
-2, 248
-2, 147

-1,058
-408
-650
-2, 922
-2,509

-1,423
-566
-858
-3, 114
-2, 750

-1,623
-568
-1,056
-3,476
-2,711

-1,769
-621
-1,148
-4,078
-2,740

-1,542
-648
-894
-5, 136
-2,875

-1,912
-628
-1,284
-5, 613
-3,053

-2, 105
-1,047
-1,058
-5, 135
-2, 937

-3,254
-777
-2,476
-4, 290
-2,992

-2,066
-695
-1,371
-6, 288
-3, 530

-1,892
-774
-1,118
-6,690
-3, 949

27
28
29
30
31

-76
-1,202
-777
-254
-171

-49
-1,317
-834
-270
-213

-62
-1,220
-772
-276
-172

-49
-1,329
-800
-287
-243

-29
-1,298
-854
-265
-180

-49
-1,378
-911
-281
-186

-88
-1,372
-881
-304
-187

-139
-1,546
-890
-330
-325

-144
-1,866
-1,333
-311
-219

-155
-1,329
-787
-314
-228

-125
-1,471
-912
-339
-220

-211
-2,391
-1,624
-339
-428

-193
-1,498
-950
-337
-212

32
33
34
35
36

-15,399

-5,775

-9,404

-30,493

-8,583

-15,779

-24, 475

-13,802

-13,365

-24,933

-18,767

-27,711

-19,146

37

187

248

115

-3, 585

322

2,779

-649
— 65

-3,268

502

-1, 109

-4,279

-4,529

-16
324
-121

-104
437
-85

-43
195
-37

182
—65
1,412
3,275
-4, 440

— 1,142
-86
-2,357

6
-78
394

-1,152
-52
2,831

27
-611

112
-99
489

-261
-294
-554

1,285
-1,240
-4,324

-1,441
-707
-2,381

38
39
40
41
42

-1,071
-1,671
643
-43

-1, 199
-1,998
787
12

-1,423
-2, 161
708
30

-950
-1,640
804
-114

-1,162
-1,891
775
-47

-918
-1,906
972
16

-801
-1,808
965
42

-886
-2, 071
1,181
5

-1,526
-2, 614
917
171

-1,136
-2, 365
1,166
63

-1,448
-2,543
1,108
-12

-1,056
-2,290
1,177
58

-1,428
-2,576
946
202

43
44
45
46

-14,515
-4, 889
-2, 220
-2, 669
-1,115

-4, 824
-3, 947
-1,777
-2, 170
-1,094

-8, 096
-2, 468
92
-2, 560
-466

-29,724
-4, 753
-808
-3, 945
-907

-3, 836
-5, 954
-1,794
-4,160
-856

-15,183
-7,291
-2,441
-4,849
-476

-26, 453
-5,724
-759
-4, 965
-2, 247

-12,268
-4, 981
10
-4, 991
-974

-8,571
-5,519
408
-5, 927
-766

-24, 299
-2, 856
1,032
-3, 888
-1,369

-16,210
-3,295
489
-3,783
-818

-22,376
-6,876
-3,477
-3,399
-356

-13,188
-1,537
2,458
-3,996
-488

47
48
49
50
51

-63
-2, 178

78
237

61
-90

U-2,953

"504

"-649

1472

"-1,083

"92

"343

"-2,005

-311
-5, 959

is-98

is-5, 132

15-22, 167

is 5, 926

is-7,921

15-17,833

15-6, 385

15-1,203

15-20, 165

is-12,440

is-13,139

18, 098
15, 444
13, 021
12, 904
117
549
1,456
418

858
-5, 162
-5, 598
-5, 809
211
-143
-64
643

16, 827
4,845
3,556
3,093
463
264
919
105

27,964
38, 434
13, 242
13, 367
-125
1,688
3,240
264

2,259
-8, 688
-8, 837
-8,832
—5
-22
-51
222

7,007
-9,785
-12,766
-12,860
94
344
2,436
202

24,345
6,011
5,359
5,026
333
314
172
166

5,335
-1,295
-5, 728
-5, 769
41
-768
4,656
545

7,509
-7,462
-4,556
-5, 357
801
-68
-3, 198
360

7,232
7,557
4,610
4,360
250
420
1,676
851

11,651
7,686
4,318
3,769
549
80
1,823
1,465

23,870
7,711
7,498
6,911
587
205
-460
469

7,541
5,384
7,509
7,055
454
55
-3,009
829

56
57
58
59
60
61
62
63

2,654
1,355
1,050
306
881
396

6,020
2,313
1,482
831
793
1,082

11, 983
2,620
1,824
796
-1,068
296

9,530
1,608
958
650
i6 1,572
480

10, 948
1,553
696
858
i«2,564
425

16, 792
3,353
2,298
1,056
-129
540

18, 334
3,382
2,234
1,148
1,465
157

6,630
3,588
2,694
894
"920
213

14, 971
2,221
937
1,284
163,300
2,435

-326
3,884
2,825
1,058
-1,260
468

3,965
2,690
213
2,476
-254
241

16, 158
2,060
688
1,371
893
2,240

2,157
1,965
847
1,118
1,405
2,449

64
65
66
67
68
69

-26
452

-71
431

25
891

"-368

«1,010

14177

"1,246

"416

"1,092

"373

"3,228

n.a.

250
-654

1,472

9,219

5,854

12, 018

13, 153

663

916

7,737

8,093

-1,196

1,517

8,144

2,667

6,857

6,599
1,152
6,279

-4,509

2,984

6,773
1,139
3,472

16,796

5,967

597

-11,133
-4, 481
-4, 906
-5, 683

-7,330
-1,860
-2, 342
-3, 177

-9, 598
-5,008
-5, 455
-6, 227

-5, 698
2,341
1,812
1,012

-4,977
3,012
2,567
1,713

-6,216
2,005
1,539
628

-9,093
-1,165
-1,656
-2, 537

-7,060
3, 156
2,501
1,610

-10,531
291
-239
-1,575

-5, 338
2,234
1,692
905

-5,310
2,619
2,061
1,149

-4, 163
5, 635
4,868
3,244

-5, 222
4.867
4,318
3,368

76
77
78
79

187
14, 895

248
-5, 019

115
4,580

182
16, 746

-3,585
-8, 666

322
-10,128

2,779
5,697

-649
-527

502
7,137

-1,109
7,606

-4, 279
7,507

-4,529
5,329

80
81




-129
-1,769 [

-118 [
133

ox

-2,082

-3,268
-7, 394

155

125

211

n. a. jI

52
53

f 54
is-11,163 \
55

{ 70
I 71

( 72
-3, 662 {
73
1,093
74
7,143
75

SUKVEY OF CURRENT BUSINESS

44

June 1981
Table 2.—U.S. International
[Millions

(Credits +; debits -)

Line

1970

l

11
12
13
14
15

Exports of goods and services 2
Merchandise adjusted, excluding military 3
Transfers under U.S. military agency sales contracts
Travel
Passenger fares
Other transportation
Fees and royalties from affiliated foreigners
Fees and royalties from unaffiliated foreigners
Other private services
U S Government miscellaneous services .
Receipts of income on U.S. assets abroad:
Direct investment
Interest dividends and earnings of unincorporated affiliates
Reinvested earnings of incorporated affiliates
Other private receipts
U S Government receipts

16

Transfers of goods and services under U.S . military grant programs, net

1
2
3
4
5
6
7
8
9
10

17
18
19
20
21
22
23
24
25
26
27
28
29
30
31

__

mports 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
Payments of income on foreign assets in the United States:
Direct investment
Interest, dividends, and earnings of unincorporated affiliates
Reinvested earnings of incorporated affiliates
Other private payments
U S Government payments

I

II

15,902
10, 258
281
574
131
740
419
132
316
83

16,680
10,744
435
579
139
778
441
140
317
77

2,069
1,378
691
658
241

2,114
1,194
920
678
238

1971

III

IV

I

II

16,532
10, 665
357
575
134
811
450
147
327
89

16,561
10, 802
428
603
140
796
448
154
334
83

17,097
10,920
507
623
153
823
457
155
359
88

17,288
10, 878
506
609
148
856
469
155
377
92

17,943
11,548
494
624
147
869
473
154
396
82

16,508
9,973
419
678
167
751
528
153
414
85

2,085
1,264
821
672
220

1,902
1,156
746
663
208

2,141
1,270
871
662
209

2,324
1,616
708
643
231

2,288
1,312
976
652
216

2,406
1.785
621
684
250

III

IV

559

739

735

680

883

875

733

1,056

-14,495
-9,587
-1, 178
-946
-292
-636
-23
-32
-196
-183

-14,898
-9, 766
-1,259
-1,005
-293
-723
-30
-29
-208
-180

-15,178
-10,049
-1,211
-1,010
-320
-768
-28
-27
-212
-176

-15,481
-10,464
-1,208
-1,019
-310
-716
-30
-26
-211
-186

-15,589
-10,600
-1,174
-1,083
-275
-769
-29
-27
-231
-174

-16,803
-11,614
-1,206
-1,078
-332
-808
-27
-29
-238
-188

-17,499
-12, 171
-1,203
-1,059
-315
-824
-30
-32
-244
-193

-16,678
-11,194
-1,236
-1,153
-368
-729
-32
-35
-234
191

-216
-115
-101
-998
-208

-217
-109
-108
-947
-241

-217
-105
-112
-875
-285

-224
-111
-113
-797
-290

-235
-157
-78
-656
-336

-302
-146
-156
-579
-402

-320
-176
-144
-594
-514

-306
-142
164
-599
-592

32

U.S. military grants of goods and services, net

-559

-739

-735

-680

-883

-875

-733

-1,056

33
34
35
36

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

-786
-417
-100
-269

-810
-404
-118
-288

-839
-444
-122
-273

-860
-471
-122
-267

-825
-439
-124
-262

-894
-486
-142
-266

-980
-550
-138
-292

-1,004
-568
-138
-298

37

U.S. assets abroad, net (increase/capital outflow ( — ))

-2,828

-1,942

-2,363

-2,205

-2,927

-2,713

-3,569

-3,263

1,198
300
-29
851
76

-197

38
39
40
41
42

U.S. official reserve assets, net 4
Gold
Special drawing rights
Reserve position in the International Monetary Fund
Foreign currencies
_

264
-44
-270
-253
831

808
14
-254
227
821

585
395
-251
406
35

824
422
-76
9
469

688
109
-55
255
379

660
456
17
252
-65

43
44
45
46

U.S. Government assets, other than official reserve assets, net. .
U.S. loans and other long-term assets
Repayments on U.S. loans *
U.S. foreign currency holdings and U.S. short-term assets, net

-399
-740
430
-89

-348
-864
508
8

-423
-860
370
67

-419
-829
412
-2

-573
-1,130
573
-16

-567
-1,227
541
119

-387
-894
477
30

-355
-939
525
49

47
48
49
50
51

U.S. private assets, net
Direct investment __
_
Equity and intercompany accounts
_
Reinvested earnings of incorporated affiliates
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, 693
-1,9.58
-1, 267
-691
-306

-2,402
-2, 144
-1,224
-920
80

-2, 525
-1, 718
-897
-821
-517

-2, 610
-1,771
-1,025
-746
-333

-3,042
-2, 033
-1, 162
-871
-408

-2,806
-1,949
-1,241
-708
-368

-4,380
-2,308
-1,332
-976
-346

-2, 711
-1,327
-706
-621

-381
15

-12
-61

-129
-28

-64
64

-33
-322

1
-132

-37
-300

-99
-307

14
-77

49
-314

12
-145

80
-586

15
-261

-153
-205

-247
-1,142

-227
-760

2,159

848

1,940

1,415

3,092

5,154

8,726

5,998

2,829
O7)

694

1,411

1,977
O7)
-1
-260
"2,238

5,178

5,630

10, 367
O7)

5,705
(17)

-2
-79
17 5, 259

-13
"5,645

-223
17 10,592

-197
"5,904

-2, 086
196
118
78
179
559

-476
140
-16
156
1,862
196

-1,641
-293
-437
144
-795
626

293
324
160
164
-1,270
908

52
53
54
55
56

Foreign assets in the United States, net (increase/capital inflow (+))

57
58
59
60
61
62
63
64
65
66
67
68
69

Foreign official assets in the United States, net
U.S. Government securities
U.S. Treasury securities •
Other?
Other U.S. Government liabilities 8
U.S. liabilities reported by 9U.S. banks, not included elsewhere .
Other foreign official assets
Other foreign assets in the United States net
Direct investment
.
Equity and intercompany accounts
.
..
Reinvested earnings of incorporated affiliates
.. .
U.S. Treasury securities
U.S. securities other than U.S. Treasury securities
U.S. liabilities to unaffiliated foreigners reported by U.S. nonbanking
concerns:
70
Long-term
71
Short-term
U.S. liabilities10 reported by U.S. banks, not included elsewhere:
72
Long-term
73
Short-term 10
_.
74 Allocations of special drawing rights...
.
. .
75 Statistical discrepancy (sum of above items with sign reversed)
75a
Of which seasonal adjustment discrepancy
Memoranda:
76 Balance on merchandise trade (lines 2 and 18)
77 Balance on goods and services (lines 1 and 17) » .
..
78 Balance on goods, services, and remittances (lines 77 35 and 36)
79 Balance on current account (lines 77 and 33) »
Transactions in U.S. official reserve assets and in foreign official assets in the
United States.
80 Increase (— ) in U.S. official reserve assets, net (line 38) .
81 Increase (-f ) in foreign official assets in the United States (line 57 less line 61)..
See footnotes on page 61.



(17)

O7)

(17)

(17)

-181

> :i

"2,862

-206
"869

-670
592
491
101
16
304

154
212
104
108
-35
374

529
357
245
112
720

-562
303
190
113
99
792

122
100

366
168

299
211

325
423

203
-265

45
-79

-89
168

225
161

-1,811
217
-169

19
-950
217
-95

22
-1,081
217
-309

-25
-2,479
216
354

-152
-2,806
180
-1,028

-61
-2,579
179
-2,211

-71
-1,187
179
-4,800

34
-89
179
-1,740

671
1,407
1,038
621

978
1,782
1,376
972

616
1,354
959
515

338
1,080
691
220

320
1,508
1,122
683

-736
485
77
-409

-623
444
14
-536

-1,221
-170
-606
-1, 174

264
2,861

808
900

585
1,369

824
2,237

688
5,257

660
5,643

1,198
10, 590

-197
5,902

31

-1
42
" 1, 370

SUKVEY OF CURRENT BUSINESS

June 1981

45

Transactions—Seasonally Adjusted
of dollars]

K 73

197.I

I

II

III

IV

I

II

197 4
III

IV

I

1975

II

III

IV

I

II

III

IV

Line

18,512
11,833
366
673
161
846
506
157
432
87

18,445
11, 618
322
695
171
859
517
161
439
87

19,498
12, 351
319
713
170
904
537
166
442
93

21, 039
13, 579
357
736
197
970
555
171
451
90

23,958
15, 474
400
836
230
1,056
608
172
466
88

26,259
17, 112
503
817
236
1,079
574
176
483
92

28,544
18, 271
603
860
258
1,147
678
180
504
130

31,479
20, 553
1,053
899
251
1,183
653
184
532
91

34,293
22, 614
695
972
270
1,314
706
186
546
95

36, 730
24,500
882
969
267
1,425
738
187
561
97

37,033
24,629
880
1,021
278
1,422
789
189
588
114

38,609
26,563
922
1,070
289
1,536
837
189
626
113

39,260
27, 480
935
1,187
262
1,453
865
189
668
108

37,474
25,866
902
1,127
241
1,424
887
189
708
128

38, 293
26,109
1,040
1,144
277
1,442
887
189
746
107

40,703
27, 633
1,172
1,239
259
1,521
904
191
797
103

2
3
4
5
6
7
8
9
10

2,522
1,337
1,185
707
222

2,673
1,492
1,181
703
200

2,829
1,654
1,175
751
223

2,924
1,933
991
788
221

3,505
1,927
1,578
879
244

3,964
1,990
1,974
1,002
221

4,535
2,101
2,434
1,151
227

4,538
2,366
2,172
1,298
244

5,199
2,866
2,333
1,421
275

5,009
2, 462
2,547
1,802
293

4,806
2,791
2,015
2,057
260

4,142
3,260
882
2,076
246

3,911
2,082
1,829
1,959
243

3,860
2,142
1,718
1,859
283

4,181
2,226
1,955
1,869
302

4,643
2,097
2,546
1,957
284

11
12
13
14
15

1

1,245

982

1,290

976

723

868

785

433

405

565

352

496

787

-19,202
-13,501
-1,222
-1,232
-377
-872
-38
-31
-258
-192

-19,155
-13,254
-1,272
-1,231
-395
-840
-39
-34
-264
-203

-19,817
-14,022
-1,105
-1,250
-401
-863
-34
-36
-256
-200

-21,261
-15,020
2-1,185
-1,329
-423
-945
-43
-38
-264
-193

-23,055
-16,285
-1,169
-1,338
-465
-1,106
-56
-40
-287
-207

-24,356
-17,168
2
-l,231
-1,394
-449
-1,134
-49
-43
-290
-206

-24,897
-17,683
-1,067
-1,375
-439
-1,203
-46
-46
-293
-227

-26,911
-19,363
-1,162
-1,419
-437
-1,251
-58
-47
-309
-222

-29,694
-21, 942
-1, 153
-1,445
-482
-1,332
-43
-48
-307
-236

-34,710
-26,284
-1,298
-1,499
-504
-1,466
-41
-47
-313
-253

-36,019
-27, 322
-1,265
-1,484
-513
-1,514
-38
-46
-314
-247

-36,335
-28, 101
-1,316
-1,552
-596
-1,630
-38
-45
-328
-231

-33,804
-24, 945
-1,317
-1,548
-569
-1,454
-81
-46
-360
-247

-31,307
-22, 791
-1,185
-1,529
-526
-1,353
-83
-47
-375
-275

-33,108
-24, 453
-1,096
-1,627
-574
-1,395
-54
-46
-394
-257

-34,619
-25, 852
-1,198
-1,713
-594
-1,486
-69
-47
-422
-265

17
18
19
2C
21
22
22
24
2£
2(

-242
-157
-85
-601
-636

-348
-191
-157
-634
-641

-309
-155
-154
-661
-680

-386
-212
-174
-708
-727

-390
-130
-260
-849
-863

-437
-185
-252
-986
-969

-389
-201
-188
-1,126
-1,003

-394
-183
-211
-1,248
-1,001

-355
-36
-319
-1,350
-1,001

-363
-84
-279
-1,592
—1,050

-422
-23
-399
-1,778
-1,076

-192
— 123
-69
-1,771
-1, 135

-412
-227
-185
-1,606
— 1,219

-600
-256
-344
—1,436
-1,107

-728
-300
-428
-1,359
-1,125

-495
-263
-232
-1,387
-1,091

27
2£
2<
3(
31

-1,245

-982

-1,290

-976

-723

-868

-785

-433

-565

-352

-496

-787

-1,202

-55

-163

32

-1,002
-586
-142
-274

-979
-558
-142
-279

-966
-573
-121
-272

-907
-457
-166
-284

-758
-361
-172
-225

-1,029
-621
-171
-237

-910
-494
-179
-237

-1,186
-463
-172
-551

ia-2,977
13-2, 606
-107
-264

-1,849
-1,399
-189
-261

-1,263
-811
-204
-248

-1,098
-660
-194
-244

-1,193
-753
-200
-240

-1,111
-719
-197
-195

-1,070
-617
-204
-249

-1,241
-806
-213
-222

3:
&
£
3(

-3,763

-2,303

-4,129

-4,302

-7,886

-4, 154

-3,189

-7,646

-5,914

-10,318

-7,694

-10,818

-10,576

-9,591

-5,099

-14,436

3'

442
544
-178
-1
77

-238

-127

213

11

-23

-43

-246

-358

-1,002

139

-327

-28

-333

-161

-171
185
-252

-81
3
-177
-15
108

-177
-16
66

-13
226

9
8
-6

-13
-10

-15
-28

-209
-37

—29
-244
-85

-123
-728
-151

-20
-84
243

—4
-307
-16

— 16
-7
-5

—25
-95
-213

—21
-57
-83

3*(
3
4(
41

-212
-794
539
43

-271
-853
538
44

-518
-977
435
24

-566
-1,194
573
55

-572
-1,176
695
-91

-423
-1,222
789
10

-608
-1,207
558
41

-1,042
-1,034
555
-563

13 1, 389
-1,191
13 2, 788
13-208

267
-1,212
864
615

-354
-1,053
575
124

-938
-1,546
598
10

-877
-1,530
624
29

-875
-1,475
607
-7

-745
-1,440
650
45

-977
-1,496
595
-76

4;
*
4,
41

-3, 993
-2, 187
-1,002
-1,185
-476

-1, 794
-1,481
-300
-1,181
-318

-3,530
-2,435
-1,260
-1, 175
203

-3,609
-1,644
-653
-991
-28

-7,527
-3,785
-2,207
-1,578
55

-3,742
-2, 691
-717
-1,974
-86

-2,558
-2, 159
275
-2,434
-196

-6,561
-2, 718
-546
-2, 172
-445

-7,057
900
3,233
-2,333
-600

-10,227
-1,790
757
-2, 547
-272

-6, 338
-4,385
-2, 370
-2, 015
-282

-10,019
-3, 776
-2, 894
-882
-699

-9, 372
-4, 022
-2, 193
-1,829
-1,931

-8,688
-3,990
-2,272
-1,718
-985

-4, 021
-1,495
460
-1, 955
-938

-13,298
-4, 736
-2, 190
-2, 546
-2, 393

4
4
4
5(
5

-74
-174

-64
-121

20
-261

-125
-255

-136
-673

-50
-152

-155
-347

-55
-815

-128
-1,985

-588

-189
-893

-346
536

-360
-697

-412
-1, 145

-273
-2, 715

-326
-437

176
123

-510
-2, 018

-178
-5,066

-913
-6,664

4,366

4,277

6,382

6,436

10,743

3,056

2,167

2,422

6,314

9,662

9,103

9,163

2,587

3,971

2,691

6,421

of

2,761

1,103

4,740

1,870

(17)

(»)

(17)

-403
-2, 562
-2,750
188
388
1,688
84
3,458
835
583
252
-185
489

-772
-1,562
-1,564
2
133
657

-2, 736
-3, 770
-3, 436
-334
250
784

2,940
539
351
188
-205
1,173

5, 159
795
584
211
293
662

-1,138
-1, 132
-903
-229
10
-22
6
2,452
1,784
1,465
319
136
712

4,434
3,082
2,946
136
-53
1,341
64
5,228
539
260
279
-240
363

3,062
-514
-905
391
331
3,246
—1
6,041
1,610
1,211
399
200
227

4,188
2,736
2,132
604
14
1,253
185
4,975
828
759
69
601
-925

3,419
5,858
5,358
500
395
-3, 203
369
-832
278
93
185
692
344

2,244
845
780
65
360
591
448
1,727
870
526
344
-390
385

-1, 731
-2,822
-2,847
25
246
320
525
4,422
86
-342
428
2,124
737

3,095
1,682
1,367
315
517
134
762
3,326
1,369
1,137
232
164
1,038

5"
&
5£
6(
61
6S
K
64
65
66
67
68
69

-405

-138
411
88
-2, 032

1, 202

55

163

-208
-585

23
330

75
37

-130
-809

-334
-549

-180
-4,571

-461
-3, 311

-359
-3,466

-618
-31

-919
-4,367

16

&

X
5(
fr
5>i

3,174
373
216
157
-83
961

—2
84
17 4, 596
62
1,642
310
156
154
-12
718

—2
132
17 1, 617
123
4,566
403
229
174
59
1,769

9,937
8, 535
( 7,809
I
726
166
997
239
806
631
371
260
-119
1,718

-59
45

208
42

260
-44

185
178

244
2

60
-6

182
272

-188
469

-41
395

-364
754

-160
399

475
386

360
-1

61
-6

-124
-39

109
-41

70
71

200
499
178
911

83
1,590
178
-463

-73
483
177
-1,145

-61
2,033
177
-1,182

153
-1,823

78
2,187

28
951

-32
3,160

155
4,311

7
4,169

-40
3,805

-113
3,723

-25
-2,479

-287
1,094

-114
1,752

146
541

-3,002
570

224
—334

-1,716
—1,549

1,841
1,314

-2,022
369

485
85

-1,160
—2, 162

,079
,710

3,725
46

564
255

-1,707
-2, 073

3,172
1,773

72
73
74
75
75a

-1,668
-690
-1,106
-1,692

-1,636
-710
-1,131
-1,689

-1,671
-319
-712
-1,285

-1,441
-222
-672
-1,129

-811
903
506
145

-56
1,903
1, 495
874

588
3,647
3,231
2,737

1,190
4,568
3,845
3,382

672
4,599
4,228
1,622

-1,784
2,020
1,570
171

-2, 693
1,014
562
-249

- ,538
,674
,226
576

2,535
5, 456
5,016
4,263

3,075
6,167
5,775
5,056

1,656
5,185
4,732
4,115

1,781
6,084
5,649
4,843

76
77
78
79

442
2,883

-238
1,015

-81
4,656

-127
1,738

213
9,771

11
-790

-23
-905

-43
-2, 986

-246
-1,148

-358
4,487

-1,002
2,731

139
4,174

-327
3,024

~28
1,884

-333
-1,997

-161
2, 578

80
81

(17)

236
-122
i72,647

25
88
"990

1,605
-136
-221
85
-3
1,059




SUEVEY OF CURRENT BUSINESS

46

June 1981
Table 2

U.S. International
[ Millions

5
g
g

in
19

13
14
15
i/>

197 6

(Credits +; debts -) »

Line

Exports of goods mid services ^
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
- TJ S Government miscellaneous services
Receipts of income on U.S. assets abroad:

...

Interest dividends and earnings of unincorporated affiliates
Reinvested earnings of incorporated affiliates
.
Other private receipts
U S Government receipts
Transfers of goods mid services under U S military grant programs, fiet

17

18

19
20
21
22

Travel
Other transportation

_ __

00

24
25
9fi

Fees and royalties to unaffiliated foreigners
Private payments for other services
TJ S Government payments for miscellaneous services
Payments of income on foreign assets in the United States:

27
9R

29
30
31

Interest dividends and earnings of unincorporated affiliates
Reinvested earnings of incorporated affiliates

-

U S Government payments

32

U S military grants of goods and services, net

oq

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

34
35
36
37

-

U S assets abroad net (increase/capital outflow (-))

.

38
39
40
41
42

U.S. official reserve assets net *
_ Gold
Special drawing rights
Reserve position in the International Monetary Fund
Foreign currencies
- -

43
44
45
46

U S Government assets other than official reserve assets net
U . S . loans and other long-term assets
Repayments on U.S. loans *
_ _U S foreign currency holdings and U S short-term assets net

47
48
49
50
51

U.S. private assets, net
_ _ _
Direct investment
Equity and intercompany accounts
Reinvested earnings of incorporated affiliates
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
_

52
53
54
55
56

Foreign assets in the United States net (increase/capital inflow (+))

57
58
59
60
61
62
63
64
65
66
67
68
69

Foreign official assets in the United States, net
U.S. Government securities.
_
U.S. Treasury securities6
Other?
Other U.S. Government liabilities '
U.S. liabilities reported by 9U S banks not included elsewhere
Other foreign official assets
- .
Other foreign assets in the United"States, net
Direct investment __
_
Equity and intercompany accounts
Reinvested earnings of incorporated affiliates
U.S. Treasury securities
.
U.S. securities other than U.S. Treasury securities
U.S. liabilities to unaffiliated foreigners reported by U.S. nonbanking concerns:
70
Long-term
71
Short-term
U.S. liabilities10 reported by U.S. banks, not included elsewhere:
72
Long-term .
73
Short-term 10
74 Allocations of special drawing rights
75 Statistical discrepancy (sum of above items with sign reversed)
75a
Of which seasonal adjustment discrepancy
Memoranda:
76 Balance on merchandise trade (lines 2 and 18)
77 Balance on goods and services (lines 1 and 17) ll
78 Balance on goods, services, and remittances (lines 77, 35, and 36)
79 Balance on current account (lines 77 and 33)u
Transactions in U.S. official reserve assets and in foreign assets in the United
States:
80
Increase (-) in U.S. official reserve assets, net (line 38)
81
Increase (+) in foreign official assets in the United States (line 57 less line 61) . .


See footnotes on-page 61.


197 7

I

II

III

IV

I

II

III

IV

27 575
1 198
1 324
276
1 678
888
195
824
123

41 112

42,200
28,256
1,150
1,443
308
1,597
882
201
876
116

43,644
29 056
1,495
1,518
325
1,681
887
209
924
120

44 674
29 858
1 611
1 457
320
1,791
874
217
961
130

44 925
29 668
1 789
1 437
300
1,801
903
221
948
144

46 636
30 852
1 842
1 521
355
1 829
943
226
940
129

47 007
30 752
1 839
1 553
349
1 836
1 017
234
946
144

45 730
29 544
1 882
1 639
362
1 798
1 020
243
973
140

4 590
2 937
1 653
2 109
332

4,800
2 605
2,195
2,221
350

4 779
2 763
2 016
2 297
353

4 830
2 998
1 832
2 328
297

4 827
3 197
1 630
2 491
396

4 959
3 456
1 503
2 628
412

5 180
3 504
1 676
2 725
432

83

39

53

31

4 707
3 120
1 587
3 037
385
79

-48,479
—37 952
—1 483
—1 830
—673
-1, 956
—49
—49
— 545
—330

-50,475
—39 197
—1 511
—1,910
-709
-1,991
—74
—50
-566
—359

-726
—278
-448
— 1,487
—1,399

-804
—370
-434
—1,646
-1,658

50

87

152

—37 507
—28 140
— 1 157
—1 682
—634
—1 615
—87
—47
—452
288

-39,525
—30, 134
—1,219
-1,658
—613
-1,646
—85
—47
-483
—308

-41, 770
—32 167
—1 237
—1 715
—645
—1,754
—58
—47
—523
331

-43, 448
—33 610
—1 282
—1 801
—676
—1,837
—64
—48
—549
—300

-46,461
—36 532
—1 367
— 1 832
—676
—1,960
—69
—48
—539
—339

—48,375
—38 008
—1 462
—1 879
—690
—1,967
—52
—48
—540
—331

—874
333
—541
— 1 441
— 1 090

-726
—301
-425
— 1 495
— 1 111

—754
304
-450
—1 392
— 1 147

—756
—513
—243
—1 353
—1 172

—577
—238
—339
—1 322
—1 200

—727
—362
-365
—1 386
—1 285

-79

-50

-87

-152

' -83

-39

-53

-31

1 024
-548
227
—249

— 1 000
-556
—230
—214

1 934
-1,475
—238
—221

1 039
-567
—239
—233

1 103
-632
—240
—231

— 1 272
-811
—232
—229

— 1 238
-777
—254
-207

— 12 364

-11,701

—10 618

—16,588

—1,198

—12,182

-6,297

-15,109

—777

-1,580

-408

207

-24

112

—45
237
—495

14
—798
-796

—18
716
326

—29
—461
697

-420
—58

—389
27

—83
—80
139

-9
133
-12

-43
-60
-29
42
4

—749
— 1 416
719
52

—914
-1,779
715
150

—1 428
-2,060
615
17

—1 124
-1,689
547
18

—1 062
-1, 772
642
68

—885
-1,453
666
—98

-1,001
-1,746
702
43

-746
-1, 475
709
20

—10,838
—3 923
—2 270
—1 653
—2 467

-9, 207
—2 017
178
-2, 195
-1,405

-8, 782
—3 327
—1 311
—2 016
—2, 751

-15, 671
—2 682
-850
—1,832
-2, 262

284
— 1 880
—250
-1,630
-749

-11,273
-3,783
-2, 280
-1,503
-1,784

-5, 408
-2, 762
-1,086
-1,676
-2, 177

-14,320
-3,466
-1,879
-1,587
-749

—191
—556

135
—1, 134

-23
639

37
-1,203

7
-778

50
-1,174

201
1,109

—289
—3, 412

—377
—4,409

—978
—2, 342

—718
-8,843

-306
3,990

18
-4,600

-447
-1,332

-16
-8,734

7 470

7,953

8 820

12,276

2,862

14,135

14,227

19,994

3,699
2,066
1,998
68
1,376
-412
669
3,771
1,472
930
541
437
1,036

4,039
2,481
2,165
316
688
181
689
3,914
1,086
661
425
-591
134

2,958
1,327
1,261
66
1,638
-531
524
5,862
999
549
450
3,025
64

6,997
4,018
3,895
123
925
1,731
323
5,279
790
547
243
-88
51

5,554
5,403
5,305
98
626
-725
250
-2, 693
980
641
339
981
749

7,888
5,763
5,153
610
391
752
982
6,247
965
600
365
-1,399
589

8,257
7,551
6,924
627
367
-163
502
5,970
1,023
575
448
1,251
337

15, 117
13,821
12,848
973
16
909
371
4,878
760
327
434
-299
763

-231
385

-145
-86

—247
63

-377
60

-89
-9

-157
10

55
664

-156
667

-105
777

-16
3,532

75
1,883

277
4,567

42
-5, 346

104
6,136

194
2,446

33
3,110

2,314
-103

2,073
470

1,858
-2, 199

4,124
1,835

975
-81

1,057
789

-5,220
-2, 459

863
1,748

-3, 752
1,226
754
187

-6,864
-1,536
-2,007
-2,639

-7, 156
-1,739
-2,200
-3,011

-7,200
-1,472
-1,933
-2, 710

-9,653
-4,745
-5,183
-5, 750

207
6,072

-420
4,928

-24
7,497

112
7,890

-43
15, 101

-565
3,605
3,129
2,581

-1,878
2,675
2,231
1,675

-3, 111
1,874
1,415
-60

-777
2,323

-1,580
3,351

-408
1,320

-1 005
-567
-246
-192

-357
-998

SUKVEY OF CUKRENT BUSINESS

June 1981

47

Transactions —Seasonally Adjusted—Continued
of dollars]
19're

19^ 8

1980

1981

Line

I

II

49,473
30, 947
2,099
1,722
367
2,028
1,130
254
1,012
142

54,079
35,392
1,982
1,787
367
1,965
1,113
262
1,031
163

56,429
36, 811
1,953
1,804
407
2,132
1,174
268
1,040
159

5,917
3, 366
2,551
3,410
445

5,841
3,898
1,943
3,688
488

6,231
3,386
2,845
4,013
437

76

49

62

in

IV

I

II

61,041
38,904
2,056
1,873
462
2,190
1,288
271
1,046
156

65,424
42,036
1,894
1,963
497
2,307
1,171
268
1,049
128

68,890
43,834
1,705
2,101
532
2,455
1,216
267
1,046
152

74,718
47, 236
1,599
2,054
540
2,510
1,265
266
1,037
156

79,894
51,367
1,411
2,217
587
2,627
1,328
266
1,055
84

85,764
54, 898
1,738
2,334
609
2,798
1,331
280
1,217
94

83,617
55,667
2,085
2,433
650
2,884
1,382
289
1,288
79

86,655
56, 252
2,272
2,601
683
2,799
1,468
297
1,333
100

88,636
57, 149
2,136
2,722
640
2,949
1,514
304
1,369
89

94,159
61, 117
1,969
2,658
700
3,032
1,447
312
1,413
91

2
3
4
5
6
7
8
9
10

7,469
3,465
4,004
4,853
473

7,760
4,058
3,702
5,801
550

9,170
4,514
4,656
5,883
529

10,882
5,427
5,455
6,572
601

10,519
5,367
5,152
7,819
614

11,243
5,972
5,271
8,700
522

7,089
3,347
3,742
9,142
629

9,792
5,452
4,340
8,352
706

8,719
5,074
3,645
10,329
716

8,095
4,655
3,440
12,503
822

11
12
13
14
15

193

16

IV

III

49

23

49

88

I

139

II

144

IV

III

155

125

IP

211

1

-54, 225
-42, 063
-1,680
-2,008
-731
-2, 128
-100
-52
-611
-378

-56,867
-43, 699
-1,752
-2, 028
-710
-2, 131
-92
-53
-629
-383

-58,333
-44, 336
-1,874
-2, 231
-730
-2,291
-98
-54
-652
-381

-60,606
-45, 715
-2,045
-2, 208
-725
-2, 361
-104
-56
-675
-402

-62,885
-46, 766
-2,028
-2, 230
-760
-2, 455
-125
-57
-691
-421

-68,188
-51, 117
-2,029
-2, 377
-794
-2,594
-126
-58
-702
-442

-72, 265
-54, 210
-2,164
-2,381
-802
-2,643
-119
-59
-702
-451

-78,582
-59, 726
-2,334
-2, 425
-828
-2, 723
-153
-60
-726
-404

-85,981
-65, 024
-2, 656
-2, 679
-842
-2, 752
-138
-62
-782
-417

-82,830
-62, 411
-2, 512
-2, 437
-896
-2, 786
-154
-63
-807
-422

-80, 177
-59, 154
-2, 727
-2, 597
-942
-2,582
-95
-64
-830
-490

-84,902
-62, 719
-2, 851
-2,684
-927
-2, 776
-128
-66
-803
-441

-89,560
-65, 719
-2, 670
-3,153
-1, 154
-2, 701
-192
-67
-905
-448

17
18
19
20
21
22
23
24
25
26

-630
-324
-306
-1,887
-1,957

-1,262
-431
-831
-2,029
-2,099

-1,261
-465
-796
-2, 267
-2, 158

-1,058
-408
-650
-2, 797
-2,460

-1,423
-566
-858
-3, 165
-2, 763

-1,623
-568
-1,056
-3, 579
-2, 746

-1,769
-621
-1,148
-4, 212
-2,753

-1,542
-648
-894
-4,847
-2, 814

-1,912
-628
-1,284
-5,664
-3,053

-2, 105
-1,047
-1,058
-5,300
-2, 937

-3, 254
-777
-2, 476
-4, 451
-2, 992

-2,066
-695
-1,371
-5, 911
-3,530

-1,892
-774
-1,118
-6,710
-3,949

27
28
29
30
31

-76

-49

-62

-49

-29

-49

-88

-139

-144

-155

-125

-211

-193

32

-1,208
—111
-254
— 177

-1,310
-834
-270
-206

-1,233
-772
-276
-185

-1,318
-800
-287
-231

-1,311
-854
-265
-192

-1,381
-911
-281
-189

-1,401
-881
-304
-216

-1,501
-890
-330
-281

-1,878
-1,336
-311
-231

-1,332
-787
-314
-231

-1,503
-912
-339
-252

-2,344
-1,624
-339
-381

-1,512
-950
-337
-225

33
34
35
36

-15,219

-30,593

-8,057

-15,639

-24,942

-14,003

-12,639

-24,837

-19,302

-27,995

-18,520

37

2,779

-649
-65

-3,268

502

-1,109

-4, 279

-4,529

112
-99
489

-261
-294
-554

1,285
-1,240
-4, 324

-1,441
-707
-2,381

38
39
40
41
42

-5,606

-9,651

187

248

115

-16
324
-121

-104
437
-85

-1,009
-1,671
705
-43

-3,585

322

-43
195
-37

182
-65
1,412
3,275
-4, 440

-1,142
-86
-2,357

6
-78
394

-52
2,831

27
-611

-1, 152
-34
-2,082

-1,257
-1,998
729
12

-1,386
-2, 161
745
30

-991
-1,640
763
-114

-1,093
-1,891
845
-47

-971
-1,906
919
16

-778
-1,808
988
42

-925
-2, 071
1,141
5

-1,456
-2, 614
987
171

-1, 187
-2, 365
1,115
63

-1,427
-2, 543
1,128
-12

-1,094
-2,290
1,138
58

-1,358
-2,576
1,016
202

43
44
45
46

-14,397
-4,771
-2,220
-2, 551
-1,115

-4, 597
-3, 720
-1,777
-1,943
-1,094

-8,380
-2, 753
92
-2, 845
-466

-29, 784
-4,812
-808
-4,004
-907

-3, 379
-5, 496
-1, 794
-3, 702
-856

-14,990
-7,097
-2, 441
-4,656
-476

-26, 943
-6, 214
-759
-5, 455
-2, 247

-12,429
-5, 142
10
-5, 152
-974

-7, 915
-4,863
408
-5, 271
-766

-24, 152
-2, 710
1,032
-3, 742
-1,369

-16,766
-3, 851
489
-4, 340
-818

-22, 622
-7, 122
-3, 477
-3,645
-356

-12,633
-982
2,458
-3, 440
-488

47
48
49
50
51

-63
-2, 178

78
237

61
-90

H-649

1472

K-1,083

1492

i*343

i*-2, 005

n.a. i(

-311 )
-5, 959 1

i«-98

i*-5, 132

n-17,833

i»-6, 385

»- 1,203

i«-20, 165

i»-12,440

u-13, 139

54
i»-ll,163 (
{ 55

-129)
-1,7691
i*-22, 167

i4-2,953
'» 5, 926

1*504

'•-7, 921

52
53

18,098

858

16,827

27,964

2,259

7,007

24,345

5,335

7,509

7,232

11,651

23,870

7,541

56

15, 444
13, 021
12,904
117
549
1,456
418
2,654
1,355
1,050
306
881
396

-5, 162
-5, 598
-5, 809
211
-143
-64
643
6,020
2,313
1,482
831
793
1,082

4,845
3, 556
3,093
463
264
919
105
11, 983
2,620
1,824
796
-1,068
296

18,434
13,242
13, 367
-125
1,688
3,240
264
9,530
1,608
958
650
161,572
480

-8, 688
-8,837
-8,832
-5
-22
-51
222
10,948
1,553
696
858
16 2, 564
425

-9,785
-12,766
-12,860
94
344
2,436
202
16, 792
3,353
2,298
1,056
-129
540

6,011
5,359
5,026
333
314
172
166
18, 334
3,382
2,234
1,148
1,465
157

-1,295
-5, 728
-5, 769
41
-768
4,656
545
6,630
3,588
2,694
894
16 920
213

-7,462
-4, 556
-5,357
801
-68
-3, 198
360
14, 971
2,221
937
1,284
16 3, 300
2,435

7,557
4,610
4,360
250
420
1,676
851
-326
3,884
2,825
1,058
-1,260
468

7,686
4,318
3,769
549
80
1,823
1,465
3,965
2,690
213
2,476
-254
241

7,711
7,498
6,911
587
205
-460
469
18, 158
2,060
688
1,371
893
2,240

5,384
7,509
7,055
454
55
-3,009
829
2,157
1,965
847
1,118
1,405
2,449

57
58
59
60
61
62
63
64
65
66
67
68
69

-26
452

-71
431

25
891

« -368

i* 1, 010

HI;;

i* 1, 246

i*416

1*1,092

i*373

i* 3, 228

250
-654 }

1,472

9,219

5,854

12, 018

13, 153

663

916

7,737

8,846
753

-4,039
-2, 843

3,513
1,996

9,309
1,165

-455
-3, 122

8,857
2,000

6,599
1,152
6,073
-206

-4,509

3,080
96

6,773
1 139
3,430
-42

18, 151
1,355

2,676
-3, 291

2,736
2,139

-11,116
-4, 752
-5,183
-5, 960

-8, 307
-2, 788
-3,264
-4, 098

-7,525
-1,904
-2,365
-3, 137

-6,811
435
-83
-883

-4, 730
2,539
2,082
1,228

-7,283
702
232
-679

-6, 974
2,453
1,933
1,052

-8,359
1,312
701
-189

-10, 126
-217
-759
-2,095

-6,744
787
242
-545

-2,902
6,478
5,887
4,975

-5, 570
3,734
3,014
1,390

-4,602
4, 599
4,037
3,087

76
77
78
79

187
14,895

248
-5, 019

115
4,580

182
16, 746

-3,585
-8,666

322
-10, 128

2,779
5,697

-649
-527

-3,268
-7,394

502
7,137

-1,109
7,606

-4,279
7,507

-4, 529
5,329

80
81




-118 1
133

n.a. 1f

70
71

72
-3,662 {
( 73
74
1,093
75
6,799
75a
-344

SURVEY OF CURRENT BUSINESS

48

June 1981
Table 3.—U.S.
[Millions

Line

1970

1971

1972

1973

1974

42,680

43,600

49,252

70 938

98 042

1975

1976

1977

1978

1979

1980

107, 651

115 229

121 231

143 682

181 860

220 626

Balance of payments adjustments to Census trade data :

A

EXPORTS

1 Merchandise exports, Census basis ' including reexports and excluding
military grant shipments
_
-_
Adjustments:
3
4
5
6
g

Private gift parcel remittances
_ __
Gold exports nonmonetary
Inland U S freight to C anada
U S -Canadian reconciliation adjustments, n.e.c., net 2
Merchandise exports transferred under 3U.S. military agency sales contracts identified in Census documents -_ _ _ _
Other adjustments net *
Of which quarterly seasonal adjustment discrepancy *

9

Equals: Merchandise exports, adjusted to balance of payments basis,
excluding "military" (table 1, line 2)

83

82

80

85

94

92

86

248
522

275
556

331
608

404
1 158

557
1 250

601
1 148

659
1 546

92
14
691
2 027

102
36
756
2 118

109
159
899
4 662

202
317
1 043
4 800

-1,109
45

-1,191
—3

-839
—51

— 1,278
103

— 1,753
116

-2, 620
216

-2, 976
201

—3 285
46

—4, 720
80

—3 229
13

—3,317
295

42, 469

43, 319

49,381

71,410

98 306

107 088

114 745

120 816

142, 054

184, 473

223, 966

40,356

46, 170

56, 364

70, 473

102, 576

98, 509

123, 478

150 390

174, 757

209,458

244,871

19
-463

9

—303

156
-205

359
174

83
-206

608
-65

1 286
-226

844
-347

1,407
403

2,772

-528

-179
—8

-185
38

-189
141

-310
385

-361
901

-293
—52

-297
327

-239
478

-162
721

-225
776

-394
2,059

39, 866

45, 579

55, 797

70, 499

103, 649

98, 041

124, 051

151, 689

175, 813

211,819

249, 30$

1 Total all countries (A-9)

42, 469

43, 319

49,381

71,410

98,306

107,088

114,745

120,816

142,054

184,473

223,966

2
3
4
5
6
7

14, 167

13, 589

14, 950

2,543
8,299
2,631
3,325

2,405
8,008
2,539
3,176

2,742
8,589
2,716
3,619

21,216
16, 708
3,760
12, 377
3,723
4,508

28, 164
21, 744
4,706
16, 491
4,687
6,420

29,884
22,854
4,881
17,358
5,052
7,030

31,883
24, 917
5,101
19,090
5,404
6,966

34,094
26, 493
6,035
19,533
5,850
7,601

39, 546
31, 778
7,277
23, 378
7,204
7,768

54,177
42, 474
10,686
30,363
8,694
11,703

67,603
53,466
12, 818
38,955
11,449
14, 137

9

IMPORTS
Merchandise imports, Census basis * (general imports)

10

Adjustments:
11
12
13
14
IT

Gold imports nonmonetary
U S -Canadian reconciliation adjustments, n.e.c., net 2
_ _ _ _ _
Merchandise 3imports of U.S. military agencies identified in Census
documents
- 6
_
Other adjustments net
Of which quarterly seasonal adjustment discrepancy *

16

Equals: Merchandise imports, adjusted to ba'ance of payments basis,
excluding "military" (table 1, line 18)

B

Merchandise trade,
by area, adjusted to balance of payments basis, excluding military: 7
EXPORTS
Western Europe
European Communities (9) 7
United Kingdom
European Communities (6)
Germany
_
Western Europe, excluding EC (9) 7 .__

_

.

8
9
10
11

Eastern 2Europe
Canada
_
__ . _ _ _
Latin American Republics and other Western Hemisphere
Mexico

__

382
9,478
6,514
1,705

420
10, 927
6,462
1,622

900
13, 109
7,227
1,985

2,047
16, 710
9,961
2,962

1,737
21,842
15, 820
4,860

3,249
23, 537
17,108
5,166

4,123
26,336
16, 871
5,011

2,895
28,533
17,921
4,834

3,893
31, 229
22,033
6,689

5,913
38,690
28,555
9,931

4,143
41,389
38,811
15, 197

12
13
14

Japan
Australia, New Zealand, and South Africa
Other countries in Asia and Africa

_.

4,650
1,593
5,685

4,053
1,693
6,175

4,963
1,542
6,690

8,356
2,247
10, 873

10, 724
3,757
16, 262

9,567
3,508
20,235

10,196
3,920
21,416

10,566
3,777
23,030

12,960
4,213
28, 180

17,629
5,434
34,075

20,806
7,117
44, 097

29,888
1,904
10,295

30, 262
2,127
10, 510

34,564
2,551
11,366

48, 529
3,414
17,420

64,487
6,219
25,863

66,496
9,956
27, 387

72,335
11, 561
26, 726

76, 970
12, 877
28, 074

87, 948
14,846
35,367

115, 930
14, 537
48,093

136, 915
17,364
65,544

39,866

45,579

55,797

70,499

103,649

98,041

124,051

151,689

175,813

211,819

249,308

11,294

12, 813

15, 661

2,214
6,674
3,157
2,406

2,477
7,600
3,680
2,736

2,946
9,126
4,308
3,589

19, 774
15, 816
3,527
11,619
5,591
3,958

24, 267
19,244
4,123
14, 398
6,302
5,023

20, 764
16, 513
3,737
12, 145
5,358
4,251

23,003
17, 739
4,160
12, 823
5,581
5,264

28,226
22, 119
5,135
16,163
7,249
6,107

36,618
29,058
6,475
21, 574
9,970
7,560

41, 826
33,222
8,009
24, 187
10,953
8,604

47,255
36,097
9,848
25, 112
11, 692
11, 158

218
10, 696
5,912
1,219

225
12, 214
6,116
1,262

363
14,493
7,066
1,632

601
17, 694
9,644
2,306

977
22, 392
18,658
3,391

734
21, 710
16, 177
3,059

875
26,475
17,208
3,599

1,127
29,645
21,164
4,694

1,508
33,552
23,041
6,094

1,896
39, 020
30,535
8,801

1,444
42,434
37, 521
12,580

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, 922

11,257
2,242
25, 157

15,531
2,479
38, 480

18,565
2,792
50, 170

24, 541
4,440
52, 113

26,261
5,493
66,788

31,217
6,533
82,904

29, 012
1,763
8,873

33,463
2,265
9,626

40,643
2,974
11,317

48,985
5,097
15, 816

61, 092
17,234
24, 346

55,973
18, 897
22, 437

67,488
27,409
27, 970

79, 228
35,778
34,902

99,151
33,286
41, 116

112,600
45,039
51, 098

127, 439
55,602
63,536

15
16
17

Memoranda:
Industrial countries 77
Members of OPEC
Other countries 7

18

Total, all countries (A-16)..

-

-

- _

IMPORTS
19
20
21
22
23
24

Western Europe
European Communities (9) 7
United Kingdom
European Communities (6)
Germany
Western Europe, excluding EC (9) 7

25
26
27
28

Eastern 2Europe
Canada
_ _ _ _ _
Latin American Republics and other Western Hemisphere
Mexico

29
30
31

Japan
_
_
Australia New Zealand and South Africa
Other countries in Asia and Africa

32
33
34

Memoranda:
Industrial countries 77
Members of OPEC
Other countries 7

See footnotes on page 61.




_ _

_

. __
- - _

_
_
_

—

SURVEY OF CURRENT BUSINESS

June 1981

49

Merchandise Trade
of dollars]
Not seasonally adjusted

1979

Seasonally adjusted
1980

1979

1981

I

II

III

IV

I

II

III

41, 119

44,461

44,705

51,575

52,999

56,590

52,927

58,110

59,718

41,226

25
9
202
946
-885

22
50
225
1,275
-823

22
77
227
906
-793

40
23
245
1,535
-728

37
77
250
1,183
-701

44
19
275
1,260
-899

49
35
255
1,111
-739

72
186
263
1,246
-978

49
321
282
1,041
-1,010

278

-72

-185

-8

617

41,694

45,138

44,959

52,682

54,462

57,144

53,738

46,011

50,825

53,904

58,718

62,993

61,729

58,193

237
-48
-42

353
233
-52

290
-56
-57

527
274
-74

1,172

641

736

-78

-136

-124

513

-5

-29

297

906

248

243

662

46,671

51,354

54,052

59,742

64,993

62,482

59,048

41, 694

45,138

44,959

52,682

54,462

57,144

12,549
10,021
2,539
7,113
2,083
2,528

13, 145
10, 035
2,527
7,127
2,017
3,110

12,604
10,003
2,616
7,076
1,982
2,601

15,879
12, 415
3,004
9,002
2,612
3,464

18, 261
14,266
3,254
10, 565
2,978
3,995

17,868
14,291
3,746
10, 123
3,115
3, 577

983
9,013
6,008
2,060

1,435
10, 172
6,851
2,447

1,535
8,964
7, 255
2,492

1,960
10, 541
8,441
2, 932

1,253
10, 233
8,152
3, 059

4,220
1,177
7,744

4,108
1,337
8,090

4,559
1,265
8,777

4,742
1, 655
9,464

26, 959
3,303
10, 449

28,762
3,532
11,409

27, 392
3,765
12, 267

46, 671

51,354

9,242
7,239
1,657
5,332
2,409
2,003

10, 615
8,540
1,984
6,297
2,922
2,075

315
9,254
6,657
1,904

IV

I

1980
III

IV

42,925

47,310

50,394

52,669

25
9
208
946
-885

22
50
208
1,275
—823

22
77
241
906
-793

40
23
242
1,535
-728

-96

507
229

177
249

-527
-342

58,622

60,305

42,036

43,834

61,956

65,064

47, 114

223

476

-56

-76

II

I

II

1981

Line

III

IV

54,654

56,181

57,180

60,023

1

37
77
262
1,183
-701

44
19
257
1,260
-899

49
35
265
1,111
-739

72
186
259
1,246
-978

49
321
295
1,041
-1,010

2
3
4
5
6

-139
-131

1,371
754

332
477

-650
-750

-816
-539

398
494

7
8

47,236

51,367

54,898

55,667

56,252

57, 149

61,117

9

49,821

54,273

58,270

63,868

60,706

58,792

61,644

66,065

10

237
-48
-42

353
233
-52

290
-56
-57

527
274
-74

1,172

223

476

-78

-136

-124

-56

-76

11
12
13

63

-495
-1,008

762
767

-240
-211

729
432

62
-844

1,200
952

-250
-493

908
246

-746
-809

14
15

62,785

65,527

46,766

51,117

54,210

59,726

65,024

62,411

59, 154

62,719

65,719

16

53,738

58,622

60,305

42,036

43,834

47, 236

51,367

54,898

55, 667

56,252

57, 149

61, 117

1

15,100
12,071
2,737
8,940
2,613
3,029

16,374
12,838
3,081
9,327
2,743
3,536

17, 121
13, 732
3,279
9,817
2,634
3,389

12, 144
9,764
2,515
6,905
1,971
2,380

12, 780
9,737
2,370
7,024
2,010
3,043

13, 740
10, 807
2,806
7,654
2,160
2,933

15, 513
12, 166
2,995
8,780
2,553
3,347

17, 620
13, 856
3,252
10, 193
2,799
3,764

17, 363
13, 847
3,496
9,922
3,099
3,516

16, 523
13,096
2,965
9,693
2, 851
3,427

16,097
12,667
3,105
9,147
2,700
3,430

16, 540
13, 339
3,262
9,433
2,463
3,201

2
3
4
5
6
7

769
10, 795
9,810
3,727

705
9,717
9,885
3,882

1,416
10,644
10, 964
4,529

1,575
11, 149
10, 779
4,245

919
9,068
6,410
2,123

1,352
9,604
6, 775
2,360

1,759
9,701
7,300
2,575

1,883
10, 317
8,070
2,873

1,214
10, 302
8,759
3,142

750
10, 252
9,683
3,592

796
10,450
9,948
4,021

1,383
10,385
10, 421
4,442

1,518
11, 223
11, 631
4,351

8
9
10
11

5,033
1,461
10,069

5,203
1,712
10, 987

5,193
1,820
11,318

5,377
2,124
11, 723

5,600
1,983
12,098

4,141
1,177
8,177

4,218
1,337
7,768

4,703
1,265
8,768

4,567
1, 655
9,362

4,952
1,460
10, 591

5,323
1,713
10,583

5,380
1,820
11,335

5,151
2,124
11,588

5,504
1,983
12, 718

12
13
14

32, 817
3,937
13,968

34,988
3,857
14, 364

35, 578
4,268
16, 529

31, 830
4,475
16, 728

34, 519
4,764
17, 923

35, 853
4,970
17,907

26, 530
3,519
11,068

27, 939
3,392
11, 151

29,409
3,800
12, 268

32, 052
3,826
13,606

34,334
4,111
15, 239

34, 651
4,141
16,125

34, 173
4,476
16, 807

33, 757
4,636
17, 373

35, 2.50
5, 295
19, 054

15
16
17

54,052

59,742

64,993

62,482

59, 048

62, 785

65,527

46,766

51, 117

54, 210

59, 726

65,024

62,411

59, 154

62, 719

65,719

18

10, 398
8,356
2,064
6,054
2,732
2,042

11,571
9,087
2,304
6,504
2,890
2,484

12,331
9,346
2,425
6,639
3,098
2,985

11,898
9,207
2,300
6,633
3,115
2,691

11, 654
8,801
2,562
5, 976
2,829
2,853

11, 372
8,743
2,561
5, 864
2,650
2,629

12, 550
9,556
2,821
6,324
2, 715
2,994

9,262
7,303
1,704
5,354
2,416
1,959

10, 531
8,560
1,929
6,372
2,840
1,971

10, 521
8,394
2,094
6,048
2,793
2,127

11,512
8,965
2,282
6,413
2,904
2,547

12, 366
9,435
2,480
6,679
3,096
2,931

11, 784
9,209
2,237
6,697
3,021
2,575

11, 772
8,830
2,603
5,949
2,889
2,942

11,333
8,623
2,528
5,787
2,686
2,710

12, 657
9,657
2,870
6,384
2,706
3,000

19
20
21
22
23
24

433
9,938
7,189
2,096

517
9,042
7,828
2,148

631
10, 786
8,861
2,653

334
11, 164
9,941
3,133

346
9,907
9,216
3,313

396
9,462
8, 705
2,883

368
11, 901
9, 659
3,251

450
11,410
10,138
3,190

315
9,318
6, 515
1,818

434
9,555
7,220
2,042

516
9,749
7,940
2,306

631
10, 398
8,860
2,635

334
11, 222
9,751
3,016

347
9,574
9,307
3,300

395
10, 191
8,819
3,025

368
11,447
9,644
3,239

448
11, 486
9,942
3,062

25
26
27
28

6,271
1,229
13, 703

6,571
1,466
15, 142

6, 616
1,422
18,229

6,803
1,376
19, 714

7,287
1,656
22,280

7,984
1,610
21, 521

7,949
1,482
19,400

7,997
1,785
19,703

8,550
1,396
21,033

6,330
1,315
13, 711

6,451
1,431
15, 495

6,516
1,437
17,531

6,964
1,310
20,051

7,404
1,769
22, 178

7, 796
1,561
22,042

7,831
1,492
18,654

8,186
1,711
20,030

8,745
1,500
20, 941

29
30
31

25, 996
8,765
11, 373

28, 590
9,864
12, 114

27, 478
12, 487
13, 317

30, 536
13, 923
14,294

32,438
15, 298
16,074

31, 399
14, 312
15, 987

30,547
12,560
15, 545

33,055
13, 432
15, 930

33,906
14,529
16, 642

26, 225
8,574
11, 430

27,968
10,296
12,066

28, 223
12,188
13,030

30, 184
13,981
14, 572

32, 761
15,025
16, 055

30, 715
14, 905
16,006

31,286
12, 226
15,247

32, 677
13, 446
16,228

34,388
14, 198
16,685

32
33
34




-145

100

-277

IP

641

736

IP

SURVEY OF CURRENT BUSINESS

50

June 1981
Table 3.—U.S.
[Millions

1970

Line

B

Merchandise trade, by area, adjusted to balance of payments basis,
excluding military— Continued

35

Total all countries

1971

1972

-6, 416

1973

1974

1975

1976

1977

1978

1979

1980

BALANCE (EXCESS OF EXPORTS+)

2, 603

-2,260

2, 873

776

329

1,625
-526

919

-72
408
-1,141
440

42
43
44
45

Eastern 2Europe
--. .- . ..
164
-1,218
Canada
602
Latin American Republics and Other Western Hemisphere
486
Mexico
- - - - - -

46
47
48

Japan
Australia New Zealand, and South Africa
Other countries in Asia and Africa- _
_

36
37
38
39
40
41

Western Europe
- European Communities (9) 7
United Kingdom
European Communities (6)
Germany.
Western Europe excluding EC (9) 7

--

- - -

49
50
51

Memoranda:
Industrial countries 77
Members of OPEC
O ther countries 7

C

Merchandise trade, by principal end use
category, adjusted to balance
of payments basis, excluding military.2

-- -

EXPORTS

I

Total (A-J)

2

-

Agricultural products
NonagriculturaJ products

3
4
5
6
7

-

Foods feeds and beverages
Foods feeds and beverages—agricultural
Grains
Sovbeans
-

-

-5, 343

9 047

—30, 873 —33 759 —27 346

25 342

-204
-537
-1,592
30

3,897
2,500
583
2, 093
-1,615
1,397

9,120
6 341
1 144
5,213
-306
2 779

8,880
5, 868
12 351
2,928
9 252
4 374
2 720
7 178
900
941
2 677
802
3 370
6, 267
(i 176
1,804
-177
-1,399 -2, 766 -2, 259
1 702
1,494
3 099
208

20 348
17 369
2 970
13 843
—243
2 979

195
-1,287
346
360

537
-1,384
161
353

1,446
-984
317
656

760
-550
—2,838
1,469

2,515
1,827
931
2,107

3,248
-139
—337
1,412

2 699
-1,045
1 290
2 617

— 1,244

-3,225
535
400

—4, 113
129
-1,035

— 1,309
395
-396

— 1, 690
1,738
-6,660

— I 690 —5 335 — 7,999 — 11 581 —8 632 — 10 411
985
1,441
-59
584
—227
1,266
-4, 922 -17,064 -27, 140 —23, 933 -32, 713 -38, 807

1,422

876
141

-3, 201
-138
884

-6, 079
-423
-451

3,395
-456
— 1,683 -11,015
1,517
1,604

4,847 -2,258 -11,203
3,330
10, 523
9,476
—8, 941 -15,848 -22, 901 — 18 440 -30. 502 —38 238
4,950 -1,244 -6,828 -5, 749 -3,005
2,008

42,469

43,319

49,381

71,410

98,306

107, 088

114,745

120,816

142, 054

184, 473

223,966

7,374
35, 095

7,831
35,488

9,513
39,868

17, 978
53, 432

22, 412
75, 894

22, 242
84, 846

23, 381
91, 364

24, 331
96, 485

29, 902
112, 152

35,594
148, 879

42, 232
181, 734

5,874
5,756
3,074
1,210

6,110
5,966
2,981
1,340

7,504
7, 333
4,053
1,511

15, 199
14, 895
9,710
2,772

18,638
18, 361
11,609
3,539

19, 234
18, 907
12,644
2,876

19, 830
19,409
12, 222
3,323

19, 723
19, 112
10, 245
4,394

25, 156
24, 133
13, 467
5,188

30, 005
28, 794
16, 710
5,740

35 762
34,675
20, 795
5,884

13, 795
1,515
12, 280
1,697

12, 703
1,774
10, 930
1,703
511
25

13, 966
2,080
11,886
1,704
488
28

19, 862
2,899
16,963
1,947
605
50

30,129
3,787
26, 342
3,586
851
89

29,945
3,120
26, 825
4,739
986
459

32, 116
3,688
28, 428
4,653
1,078
348

34, 477
4,642
23,835
4,764
1,334
1,093

39, 246
5,334
33, 912
4,503
1,585
1,163

58,396
6,311
52,085
6,678
1,971
5,293

71, 817
7,027
64,790
8,775
2,847
4,033

14, 659
11, 756
1,528

16, 914
13,347
1,675
395

21, 999
17,454
2,315
481

30, 878
24, 625
3,395
625

36,639
29,881
3,188
838

39, 112
32,035
3,214
893

39, 767
33,487
2,750
589

46, 470
38,332
3,657
818

58,842
47,206
6,297
685

74, 077
58,352
8,431
1,474

10, 631
7,088
3,543

12, 100
8,429
3,671

13,364
9,615
3,749

15,584
10, 375
5,209

18,200
11,815
6,385

17, 318
10, 326
6,991

465
961

__

-

911

1,442
892
233
758
-1,868
550

-

- -

. --

-711

—9 306

1,768
-1,112
-3, 243
140

2,3S5
-2, 323
— 1,008
595

4,017
-330
-1,980
1,130

g
9
10
11
12
13

Industrial supplies and materials
Agricultural
Nonagricultural
Fuels and lubricants
.
Petroleum and products
Nonmonetarv gold

14
15
16
17

Capital goods, except automotive
Machinery, except consumer-type
Civilian aircraft complete— all types
Other transportation equipment

243

15,372
11, 756
1,918
335

18
19
20

Automotive vehicles
parts and engines
To Canada 8
To all other areas

3 870
2,692
1,178

4,698
3,512
1,186

5,485
4,267
1,219

6,878
5,251
1,627

8,625
6,205
2,421

21
22

Consumer goods (nonfood) , except automotive
All other, including balance of payments adjustments, not included in
lines C4-21

2,798

2,913

3,583

4,800

6,399

6,560

8,022

8,932

10, 41?

12, 791

16, 694

1,473

1,523

1,929

2,672

3,637

4,079

3,565

4,553

5,180

6,239

8,298

39,866

45,579

55,797

70, 499

103, 649

98, 041

124,051

151,689

175,813

211,819

249,308

2,927
36,939

3,650
71,929

6,450
51, 147

8,415
62,084

26,609
77,040

27, 017
71, 024

34, 573
89, 478

44,983
106,706

42, 312
133, 501

60,482
151, 337

78, 919
170, 389

- .._

.

.

.

....

IMPORTS
23
24
25

Total (A-16)
Petroleum and products
Nonpetroleum products

515
4

6,147

6,364

7,258

9,119

10,568

9,642

11, 546

13, 981

15, 397

17,366

18, 127

15,343
3,168
162

17, 444
3,974
240

20,958
5,101
367

28,049
8,966
514

54,428
27,488
966

51, 030
28,454
330

64,332
36, 975
939

80,653
47,654
1,935

84,854
45,648
1,765

110, 362
64,473
2,912

134, 522
83, 913
5,565

Capital goods except automotive
Machinery except consumer-type
Civilian aircraft engines parts

3,978
3,773
191

4,334
4,033
227

5,919
5,315
477

8,263
7,257
618

9,819
9,140
636

10, 166
9,521
548

12, 282
11,815
406

13, 985
13,264
592

19, 243
17, 987
982

24, 575
22, 582
1,519

30, 348
26, 176
2,985

33
34
35

Automotive vehicles, parts, and engines.
From Canada
.
From all other areas

5,515
3,146
2,370

7,358
3,973
3,385

8,685
4,617
4,068

10, 257
5,264
4,993

12, 028
5,621
6,407

11, 693
5,772
5,921

16, 169
7,860
8,308

18,641
9,104
9,537

24, 214
10, 255
13, 959

25,503
9,471
16, 032

27,062
8,588
18, 474

36
37

Consumer goods (nonfood) except automotive
- All other, including balance of payments adjustments, not included in
lines C26-36

7,403

8,388

11,104

12, 892

14,380

13, 211

17,165

21, 796

28, 943

30,566

34,445

1.480

1,691

1,873

1,919

2,426

2,299

2,557

2,633

3,162

3,447

4,804

26

Foods feeds and beverages

27
28
29

Industrial supplies and materials
Fuels and lubricants
Nonmonetary gold . .

30
31
32

See footnotes on page 61.




_ .

SUEVEY OF CUKKENT BUSINESS

June 1981

51

Merchandise Trade—Continued
of dollars]

Not seasonally adjusted
1979

Seasonally adjusted
1980

I

II

III

-4,977

-6,216

-9,093

3,307
2,782
882
1,781
-326
525

2,530
1,495
543
875
-905
1,035

2,206
1,647
552
1,022
-750
559

668
-241
-649
156

1,002
234
-338
351

1,018
-78
-573
344

I

II

III

-7,060 -10,531

-5,338

-5,310

4,308
3,328
700
2,498
-278
980

5,930
4,920
829
3,926
-120
1,010

5,970
5,084
1,446
3,490
886

3,446
3,270
175
2,964
-216
176

1,329
-245
-420
279

919
-931
-1,789
-74

423
888
594
414

309
255
1,180
999

IV

-2,051 -2, 463 -2, 057 -2,061 -2,254 -2,781
102
-52
279
-157
-195
-129
-5, 959 -7,052 -9,452 -10,250 -12,211 -10,534
2,550
4,179
-86
2,281
-8, 722 -9, 986 -11,441 -10,044
542
-326 -1,710
-1,050

1979

1981
IV

IP

1980

I

II

III

IV

I

1981
III

II

IV

Line

IP

-4,730

-7,283

-6,974

-8,359

-10,126

-6,744

-2,902

-5,570

-4,602

35

5,002
4,095
520
3,463
93
907

4,571
4,176
458
3,493
-81
395

2,882
2,461
811
1,551
-445
421

2,249
1,177
441
652
-830
1,072

3,219
2,413
712
1,606
-633
806

4,001
3,201
713
2,367
-351
800

5,254
4,421
772
3,514
-297
833

5,579
4,638
1,259
3,225
78
941

4,751
4,266
362
3,744
-38
485

4,764
4,044
577
3,360
14
720

3,883
3,682
392
3,049
-249
201

36
37
38
39
40
41

1,048
-1,257
1,305
1,278

1,125
-261
641
1,055

604
-250
-105
305

918
49
-445
318

1,243
-48
-640
269

1,252
-81
-790
238

880
-920
-992
126

403
678
376
292

401
259
1,129
996

1,015
-1,062
777
1,203

1,070
-263
1,689
1,289

-2,756 -2,620 -2, 950 -2, 189
338
339
587
-138
-8, 082 -7, 980 -8, 935 -5,534

-2,233
-94
-7,727

-1,813
-172
-8,763

-2,452
-2,397
345
-309
-10, 689 -11,587

-2,473
152
-11,459

-2,451
328
-7,319

-3,035
413
-8,442

-3,241
483
-8,223

42
43
44
45
46
47
48

1,283
-8,085
1,183

1,464
-8,668
1,993

1,947
-9,559
1,265

305
-5,055
-362

-29
-6,904
-915

1,186
-8,388
-762

1,573
1,868
-10, 155 -10,914
-966
-816

3,936
-10,764
119

2,887
-7,750
1,560

1,080
-8,810
1,145

862
-8,903
2,369

49
50
51

-4, 163 -5,222

963
-5,462
-924

172
-6,332
-705

41,694

45,138

44,959

52,682

54,462

57,144

53,738

58,622

60,305

42,036

43,834

47,236

51,367

54,898

55,667

56,252

57,149

61,117

1

7,851
33,843

8,127
37,011

8,400
36,559

11,216
41, 466

10,555
43,907

9,933
47,211

9,742
43, 996

12,002
46,620

12,815
47,490

7,650
34,386

8,267
35,567

9,323
37, 913

10,354
41,013

10,274
44, 624

10,055
45,612

10,834
45,418

11,069
46,080

12,731
48,386

6,266
6,090
3,087
1,609

6,723
6,467
3,737
1,178

7,444
7,003
4,676
902

9,572
9,234
5,210
2,051

8,325
8,181
4,862
1,599

8,198
7,930
4,567
1,431

8,696
8,325
5,312
1,098

10,543
10, 239
6,054
1,756

10,761
10,563
6,472
1,936

6,426
6,172
3,223
1,466

6,913
6,598
3,921
1,120

7,975
7,647
4,511
1,568

8,691
8,377
5,055
1,586

8,478
8,272
5,050
1,406

8,356
8,028
4,775
1,317

9,328
9,056
5,102
1,855

9,600
9,319
5,868
1,306

11,133
10,843
6,801
1,772

2
3
4
5
6
7

12, 720
1,672
11,048
1,368
423
942

14, 114
1,521
12,593
1,635
461
1,160

14,632
1,255
13,377
1,764
526
1,327

16,930
1,863
15,067
1,911
561
1,864

17,703
2,246
15,457
1,716
661
1,009

19,673
1,847
17, 826
2,424
704
1,237

16, 969
1,285
15, 684
2,231
695
561

17,472
1,649
15,823
2,404
787
1,226

18,339
2,105
16, 234
2,409
8' 9
1,370

12, 728
1,389
11,338
1,558
436
942

13,609
1,530
12, 079
1,544
441
1,160

14, 898
1,534
13,364
1,743
523
1,327

17, 161
1,858
15,304
1,833
571
1,864

17,721
1,874
15, 847
1,932
679
1,009

19, 057
1,871
17, 186
2,314
676
1,237

17,323
1,647
15, 676
2,213
696
561

17,716
1,635
16, 081
2,316
796
1,226

18,453
1,740
16, 713
2,731
927
1,370

8
9
10
11
12
13

13, 596
1C, 838
1,487
260

14, 591
11,891
1,357
245

14,622
11,586
1,762
219

16,033
12, 891
1,691
261

16, 813
13,330
1,868
333

18,923
14,942
2,118
389

18,492
14,754
1,955
331

19, 849
15,326
2,490
421

19,909
16,090
2,092
464

13,792
10, 923
1,588
260

14, 174
11, 527
1,349
244

15,248
11, 977
1,956
218

15, 628
12,779
1,404
263

17,068
13,444
1,996
333

18, 482
14, 498
2,176
387

19,204
15,223
2,143
330

19,323
15, 187
2,116
424

20,217
16,246
2,228
464

14
15
16
17

4,524
3,042
1,482

4,957
3,378
1,579

3,865
2,384
1,481

4,854
3,011
1,843

4,456
2,764
1,692

4,375
2,601
1,774

3,710
2,065
1,645

4,777
2,896
1.880

4,731
2,842
1,889

4,456
2,955
1,502

4,600
3,069
1,531

4,508
2,877
1,631

4,636
2,914
1,721

4,411
2,700
1,711

4,061
2,353
1,708

4,260
2,490
1,770

4,586
2,783
1,802

4,680
2,761
1,919

2,955

3,241

3,101

3,494

4,690

4,024

3,901

4,079

4,174

2,970

3,112

3,205

3,504

4,714

3,865

4,026

4,089

4,212

18
19
20
21

1,633

1,512

1,295

1,799

2,475

1,951

1,970

1,902

2,391

1,664

1,426

1,402

1,747

2,506

1,846

2,111

1,835

2,422

22

46,671

51,354

54,052

59,742

64,993

62,482

59,048

62,785

65,527

46,766

51, 117

54,210

59,726

65,024

62,411

59, 154

62,719

65,719

23

11,728
34,943

12, 959
38,395

16,783
37,269

19,012
40,730

21,624
43,369

20, 138
42,344

17,865
41,183

19,292
43,493

21,324
44,203

11,459
35,307

13,560
37,557

16,366
37,844

19,097
40,629

21, 174
43,850

21,029
41,382

17,387
41,767

19, 329
43,390

20, 819
44,900

4,063

4,471

4,057

4,775

4,488

4,504

4,314

4,821

4,854

4,002

4,371

4,302

4,691

4,501

4,406

4,467

4,753

5,019

24
25
26

22,610
12,569
391

25, 714
13, 926
636

29, 199
17,735
676

32,839
20,243
1,209

36,917
23, 119
1,867

34,265
21,462
1,209

30,821
18,951
1,644

32,519
20,381
845

35,845
22,693
943

22,554
12,255
391

25,979
14,494
636

28,859
17,395
676

32,970
20,329
1,209

36,645
22,588
1,867

34,741
22,306
1,209

30,509
18,587
1,644

32,627
20,432
845

35,500
22,099
943

27
28
29

5,597
5,149
346

6,228
5,773
345

6,211
5,755
328

6,539
5,905
500

7,313
6,399
656

7,750
6,665
732

7,442
6,479
683

7,843
6,633
914

8,031
7,032
940

5,650
5,194
353

5,974
5,540
324

6,310
5,828
353

6,641
6,020
489

7,386
6,459
667

7,444
6,404
686

7,577
6,561
736

7,941
6,752
896

8,126
7,107
960

30
31
32

6,417
2,813
3,604

6,949
2,532
4,417

5,656
1,816
3,840

6,481
2,310
4,171

6,842
2,181
4,660

6,634
1,903
4,731

6,327
1,649
4,679

7,259
2,855
4,404

7,115
2,217
4,898

6,037
2,611
3,426

6,695
2,461
4,234

6,323
2,236
4,087

6,448
2,163
4,285

6,466
2,031
4,436

6,399
1,857
4,542

7,016
2,053
4,963

7,181
2,647
4,533

6,720
2,045
4,675

33
34
35

6,831

7,323

8,281

8,131

8,010

8,461

9,122

8,852

8,725

7,325

7,451

7,768

8,022

8,548

8,581

8,554

8,762

9,329

36

1,153

669

648

977

1,022

1,491

957

1,198

648

954

1,031

1,455

1,025

37




1,423

868

647

1,478

840

SURVEY OF CUEEENT BUSINESS

52

June 1981
Table 3—U.S.
[Millions

1970

Line

D

5
6
7
g
9
10
11

Nonagilcultural products .
.. _
Excluding military grant shipments

Foods feeds and beverages

_

_ .

__

__

Agricultural
Grains and preparations
_
Soybeans
_
Other agricultural foods, feeds and beverages.
Nonagricultural (fish distilled beverages, etc.)
Industrial supplies and materials. _

_

12
13
14
15

Agricultural
Raw cotton, including linters
Tobacco unmanufactured
Other agricultural industrial supplies (hides, tallow, etc.)

16
17

Nonagricultural
Fuels and lubricants

18
19

fl

Coal and related fuels
Petroleum and products

-

-

-.

20

Paper and paper base stocks
Textile supplies and materials
Chemicals excluding medicinals
Other nonmetals (minerals, wood, rubber, tires, etc.).

24
25
26
27

Steel making materials
Iron and steel products
Other metals, primary and advanced, including advanced steel
Precious metals (gold, silver, platinum)

29

43,246

-

1974

1975

1976

1977

1978

1979

1980

49,812

71,464

98,642

108,113

115,419

121,294

143,767

182,025

220,782

22,260
76,382
75 783

22, 095
86, 017
85 556

23 274
92, 146
91 955

24 219
97, 075
97 013

29 796
113, 971
113 886

35 213
146 812
146 648

41 757
179 025
178 869

7 785
36, 396
35 815

9 505
40,307
39 748

17, 861
53,592
53 077

5,849

6,066

7,500

15,089

18, 489

19,086

19, 712

19, 591

25,033

29,618

35,313

5 731
3,073
1,216
1 442

5 922
2,974
1,327
1 622

7 334
4,074
1,508
1 752

14 799
9,727
2,761
2 312

18 222
11,568
3,537
3 116

18 764
12,582
2,865
3 317

19 307
12, 199
3,315
3 793

19 006
10, 242
4,393
4 371

24 034
13, 469
5,208
5 357

28 437
16 691
5,701
6 045

34 226
20, 795
5,880
7 552

118

143

166

290

268

322

405

585

999

13,704

12,642

13,899

19,703

29,992

29,815

31,994

34,341

39,007

57,302

70, 594

1 515

1 774

2 070

3,116
1,001

3 683
1,058

4,636
1,538
1 094
2,004

5,327
1,754
1 358
2,215

6 286
2,213
1 183
2 891

7 000
2,880
1 334
2 786

2,879
940
681
1 258

3 775
1,353
1 590

1 263

12 189
1,698

10 869
1 702

11 828
1 704

16 824
1,961

26 218
3,627

26 699
4,753

28 311
4 684

29 705
4,763

33 681
4,503

51 016
6 677

63 594
8 775

1 046

954
511

1 023

1 057

2 493

516

610

3,351

874

993

2 997
1,084

2,741
1,335

2,132
1,585

3 507
1,971

4 780
2,847

1 143

1 092

1 155

1 463

2,597

2,500

2,720

2,682

2,628

3 364

4 973

674

715

3 067
1,996

3 001
1 978

878

1 359
4,503
3,440

1 878
7,445
4,331

1 604
7,393
4,371

1 904
8 094
5,094

1 870
8,642
5,356

2 245
10, 367
6,230

3 316
14 498
8,502

3 819
17 757
9 647

1,313
121

281
878

645
1,394
2,058
156

924
2,480
2,935
288

847
2,076
3,157
682

725
2,005
3,085
450

482
1, 875
4,034
1 169

845
2,029
4,833
1,356

1 347
2 487
10,825
5 621

1 496
3,493
13,634
5 989

263
875

1,243
66

16 791

21 663

30 398

36 269

38 678

39 313

45 948

57 510

72 600

13 212

17, 169

24,208

29, 567

31,657

33,074

37, 875

45 999

57 050

2 076

p 574
2 025

9 569
1 949

42

Automotive vehicles parts and engines

43
44

To Canada 8
To all other areas

45
46
47

Passenger cars, new and used
Trucks buses, and special vehicles
Bodies engines parts and accessories, n.e.c

48

Consumer goods (nonfood), except automotive
Consumer durables, manufactured
Consumer nondurables, manufactured
Unmanufactured consumer goods (gem stones)

_

871
3,784
358
1,686
1 237
849

849
3,842
361
1,686
1 262
883

2 660
1,528

3 472

4 944

5,309

6 590

7 238

8,111

9 740

11 817

13 696
2 940
1 271
5,163

19 265
4 485
1,784
7,172

24 259
6 650
1,923
9,288
1,430
2,960
2 228
2,007

25 068
6 236
1 907
9,748
1 617
3 274
2 588
2*285

25 836
5 633
1 997
9,940
1 587
4,050
3 264
2 630

29 764
6 421
2, 425
10,462
1,755
5,241
4 199
3,460

36 259
7 815
3 081
12, 577
1 643
6 773
5 461
4 370

45 234
9 958
3 837
15, 306
1 926
9,076
7 540
5 131

6 175
3 204

5 679
2,739

7,280
3,616
793

10 531
6,177

920
4 231

663
2,352
1 717
1 308

3 282
1,918

3 217
1 707

4 068
2,315

5,901
3,169

362

426

5 599
3,366
591

846

559

980

14 076
8,256
1 474

3 652

4 396

5 119

6 343

8 162

10 077

11 243

12, 115

14,463

16, 496

15,858

2 474
1 178

3 210
1 186

3 901
1 219

4,716
1 627

5,742
2 421

6,534
3 543

7,572
3 671

8,366
3 749

9,254
5,208

10, 111
6 385

8,866
6 992

2,334
1,394
4 435

2,885
2,199
4 993

3,267
2,068
5 908

3,628
2,041
6 446

3,692
2,770
8,001

4,721
3,330
8 446

4,010
3,052
8 796

837
579

__

2 504
10 708
2 227

1 822
1 341
1 024

163

- -

1 704

15 189

2 045

Civilian aircraft engines, parts
Civilian aircraft, complete, all types
Other transportation equipment

922

11 645

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
_ __
Biisiness and office machines, computers, etc
— -Electronic computers and parts
Scientific, professional, and service industry equipment

39
40
41

3 245
2,376

852

14 442

Electrical and electronic, including parts and attachments

- -

489

832

11, 619

31
32
33
34
35
36
37
38

_.

1 087

508
639
923

547

Machinery, except consumer»type _ _ _ _

1 181

589
462
723

1,304
1,762
76

Capital goods except automotive

44,181

30

49
50
51

1973

7,349
35,897
35 332

378
488
649

-.

21
22
23

28

1972

Merchandise trade, by end-use category, Census basis,1 including military grant shipments:

1 Merchandise exports, Census basis, including military grant shipments...
2
Agricultural products
.
.
. ....

3
4

1971

262

485

994

3,061
2 198
1 769

801

1,183

1,322

1,825

2 237

2 590

3 086

3 630

2,734

2,862

3,510

4,714

6,284

6,476

7,916

8,817

10,260

12, 431

16, 176

1,039
1 571

1,115
1 612

1,482
1 841

2,055
2,324
335

2,891
3,069

323

2,840
3,375
262

3,573
4,010
334

3,763
4,688
366

4,603
5,153
504

5,400
6,328
702

7,890
7 554
732
3 264

124

622

135

711

187

888

52

Special category (military-type goods)

1 359

1,490

1 180

1,583

2,134

2,996

2,600

3,208

4,489

3,017

53

Exports, n.e.c., and reexports .

1,506

1,537

1,813

2,358

3,182

3,394

3,276

3,909

4,567

5,651

6,977

872
634

898
638

1 013

1,265
1,093

1,819
1,363

1 905
1,490

1,602
1,674

1,702
2,207

2,030
2,537

2 426
3,225

2 863
4,115

54
55

Domestic (low-value,
miscellaneous)
Foreign (reexports) 10

See footnotes on page 61.




800

SURVEY OF CUERENT BUSINESS

June 1981

53

Merchandise Trade—Continued
of dollars]

Not seasonally adjusted
1979

Seasonally adjusted
1980

I

II

III

IV

51,632

53,042

56,608

52,999

58,134

11,086
40,546
40, 489

10, 439
42,603
42,560

9,837
46, 771
46,753

9,626
43, 373
43,301

11,857
46, 277
46,254

7,363

9,439

8,221

8,108

8,584

10,400

6,930
4,684
888
1,358

9,110
5,178
2,039
1,893

8,077
4,843
1,599
1,635

7,840
4,590
1,429
1,821

8,213
5,323
1,097
1,794

10,096
6,038
1,755
2,302

I

II

III

41}130

44,499

44,765

7,748
33,382
33,372

8,055
36, 444
36,406

8,325
36,441
36,380

6,165

6,651

5,996
3,063
1,594
1,339

6,402
3,765
1,181
1,456

IV

1979

1981

1980

1981

Line

I

II

59,737

41,465

43,212

47,028

50,321

53,466

55,149

55,503

56,664

60,537

1

12, 699
47,038
47,018

7,547
33,918
33,909

8,195
35,016
34,979

9,247
37, 781
37, 720

10, 224
40,097
40,040

10,158
43,308
43,265

9,959
45, 190
45, 172

10,718
44,785
44, 713

10,922
45,742
45,719

12, 615
47,922
47,902

2
3
4

10,655

6,325

6,841

7,894

8,558

8,374

8,266

9,216

9,456

11,027

5

10,457
6,463
1,926
2,068

6,078
3,199
1,451
1,428

6,533
3,949
1,122
1,462

7,573
4,519
1,554
1,500

8,253
5,023
1,574
1,656

8,168
5,031
1,406
1,730

7,938
4,798
1,315
1,824

8,944
5,113
1,854
1,978

9,177
5,852
1,305
2,020

10,737
6,792
1,762
2,183

6
7
8
9

IP

III

IV

I

II

III

IV

IP

169

249

434

329

144

268

371

305

198

247

308

321

305

207

329

272

280

290

10

12,486

13,884

14,432

16,500

17, 399

19,412

16,723

17,061

17, 818

12, 495

13,378

14, 697

16,733

17,417

18,795

17,078

17,304

17, 932

11

1,663
560
296
807

1,513
574
239
700

1,253
421
201
631

1,857
657
448
752

2,234
1,002
359
873

1,841
874
312
656

1,281
500
230
550

1,645
504
433
707

2,094
915
299
880

1,380
429
260
692

1,522
469
330
724

1,532
547
272
713

1,852
768
321
763

1,862
811
311
740

1,865
759
417
689

1,643
695
306
642

1,630
616
299
716

1,730
725
268
737

12
13
14
15

10,823
1,368

12,371
1,635

13, 179
1,764

14,643
1,910

15,165
1,716

17,571
2,424

15,443
2,231

15, 416
2,404

15, 724
2,408

11, 114
1,558

11,856
1,544

13,165
1,743

14,881
1,832

15,555
1,932

16,930
2,314

15,435
2,213

15, 673
2,316

16,202
2,731

16
17

618
423

927
461

933
526

1,029
562

749
661

1,322
704

1,328
695

1,381
788

1,145
899

794
436

856
441

915
523

942
571

947
679

1,239
676

1,309
696

1,285
796

1,440
927

18
19

695

842

873

953

1,004

1,263

1,417

1,289

1,263

723

800

871

970

1,053

1,194

1,417

1,309

1,326

20

735
3,159
1,919

818
3,493
2,147

821
3,922
2,235

943
3,924
2,201

887
4,268
2,443

995
4,715
2,672

935
4,502
2,287

1,002
4,272
2,246

981
4,538
2,430

740
3,185
1,904

801
3,369
1,997

856
3,843
2,287

920
4,102
2,315

894
4,318
2,434

972
4,564
2,501

973
4,393
2,356

981
4,483
2,356

990
4,596
2,421

21
22
23

285
565
2,098
987

340
627
2,468
1,182

373
598
2,594
1,319

349
698
3,666
2,133

403
745
3,699
1,920

449
920
4,134
2,028

333
918
2,819
763

311
911
2,982
1,278

197
857
3,050
1,290

340
566
2,100
987

299
614
2,433
1,182

343
613
2,609
1,319

365
694
3,683
2,133

477
746
3,703
1,920

391
906
4,089
2,028

306
937
2,840
763

322
905
3,001
1,278

226
858
3,053
1,290

24
25
26
27
28

13,363

14,207

14,340

15,600

16,453

18,521

18,144

19,483

19,580

13, 559

13,790

14,966

15,196

16, 707

18,080

18,856

18,957

19,888

10,638

11,544

11, 327

12,491

13,012

14,601

14,438

14,999

15,799

10,723

11, 180

11,717

12,380

13, 126

14, 157

14,907

14,860

15,955

29

2,220

2,475

2,403

2,641

2,756

3,053

2,914

3,094

3,140

2,252

2,389

2,478

2,622

2,798

2,945

3,005

3,069

3,191

30

8,418
1,801
680
2,952
393
1,570
1,255
1,022

9,069
2,037
782
3,093
465
1,592
1,280
1,100

8,923
2,031
748
2,983
406
1,681
1,362
1,074

9,850
1,946
870
3,550
380
1,929
1,564
1,175

10,257
2,106
853
3,559
470
2,056
1,669
1,212

11,548
2,616
946
3,973
531
2,182
1,811
1,301

11, 524
2,652
993
3,833
453
2,332
1,954
1,261

11,904
2,584
1,045
3,941
472
2,506
2,105
1,357

12,659
2,760
1,045
4,233
569
2,593
2,165
1,459

8,472
1,858
706
2,961
373
1,558
1,253
1,017

8,791
1,941
755
3,008
406
1,623
1,306
1,059

9,238
2,082
788
3,091
438
1,720
1,388
1,119

9,758
1,934
833
3,518
426
1,872
1,513
1,176

10,328
2,178
884
3,567
446
2,044
1,668
1,209

11,213
2,494
912
3,866
464
2,223
1,847
1,254

11,903
2,716
1,043
3,963
485
2,382
1,991
1,314

11,790
2,570
968
3,910
531
2,427
2,033
1,355

12,763
2,854
1,084
4,244
544
2,583
2,167
1,456

31
32
33
34
35
36
37
38

2,470
1,459
255

2,418
1,320
245

2,794
1,740
219

2,848
1,658
261

3,107
1,825
333

3, 531
2,057
389

3,375
1,923
331

4,063
2,451
421

3,317
2,054
464

2,580
1,560
255

2,367
1,312
244

3,031
1,934
218

2,553
1,372
264

3,249
1,953
333

3,536
2,115
387

3,618
2,111
330

3,674
2,078
424

3,469
2,190
464

39
40
41

4,161

4,453

3,517

4,365

4,071

3,995

3,412

4,381

4,417

4,093

4,096

4,160

4,148

4, 025

3,681

3,962

4,190

4,366

42

2,679
1,482

2,874
1,579

2,036
1,481

2,522
1,844

2,379
1,692

2,221
1,774

1,767
1,645

2,500
1,881

2,529
1,889

2,592
1,502

2,565
1,531

2,529
1,631

2,426
1,722

2,314
1,712

1,973
1,708

2,192
1,770

2,388
1,803

2,447
1,919

43
44

1,093
793
2,275

1,345
912
2,196

884
768
1,865

1,398
858
2,110

1,164
716
2,191

1,120
791
2,084

641
757
2,014

1,084
789
2,507

1,058
851
2,508

1,108
817
2,168

1,177
830
2,088

1,182
827
2,151

1,254
856
2,038

1,186
742
2,097

972
722
1,987

853
806
2,302

998
782
2,410

1,078
885
2,403

45
46
47

2,883

3,134

3,027

3,387

4,565

3,899

3,766

3,946

4,060

2,898

3,005

3,131

3,396

4,589

3,740

3,891

3,957

4,098

48

1,231
1,467
185

1,375
1,583
175

1,285
1,582
160

1,509
1,696
183

2,515
1,831
220

1,850
1,868
182

1,732
1,879
155

1,794
1,976
176

1,787
2,113
160

1,252
1,476
170

1,287
1,550
169

1,355
1,598
178

1,506
1,705
185

2,540
1,846
202

1,734
1,828
178

1,817
1,902
172

1,798
1,979
180

1,818
2,134
146

49
50
51

819

759

736

1, 252

1,412

1,351

533
719

618
794

601
750




704

1,636
674
962

708

834

1,625

1,840

643
983

758
1,082

736

1,634
707
928

986

905

1,878

2,302

755
1,123

1,179
1,124

819

1,276
554
722

759

736

1,344

1,445

597
747

616
830

704

1,585
660
926

708

1,646
668
978

834

736

986

905

52

1,754

1,765

1,813

2,321

53

731
1,023

725
1,040

739
1,075

1,207
1,114

54
55

SUEVEY OF CURRENT BUSINESS

54

June 1981
Table 3.—U.S.
[Millions

Line

56
57
58
59
60
61
62

Merchandise imports, Census basis
Foods, feeds, and beverages
Coffee cocoa, and sugar. ._
Green coffee.
Cane sugar.

.

1970

1971

1972

1973

40,356

46, 170

56, 364

70 473

6 152

6 364

7 264

9 112

2 085

2 111

2 164

2 707

1,159

1 167

1,182

1 570

725

.

Other foods, feeds, and beverages.
Industrial supplies and materials.

832

925

1975

1976

1977

1978

1979

1980

102 576

98 509

123 477

150 390

174 757

209 458

244 871

10 568

9 642

11 546

13 981

15 397

17 366

18 127

4 069

3 747

4 144

5 468

5 118

5 349

6 255

1, 505
2 247

1 561
1 865

2 632
1 154

3,910
1 076

3 728

3 820

3 872
1 988

723

974

4 067

4 253

5 099

6 405

6 499

5 895

7 402

8 513

10 279

12 017

11 872

15 415

17 458

20 995

27 587

53 446

51 038

63 539

79 051

83 621

107 733

130 966

3 249
2 960

4 050
3 664

5 213
4 699

8 830
8 294

27 342
26 463

28 480
27 044

36 986
34* 598

47 598
44 961

45 573
42 197

63 930
59 888

83 789
78 795

1 565

1 634

1 724

2 090

2 969

2 716

3 340

3 604

3 996

4 801

5 269

2,868
1 209

3,155
1 411

3,704
1 538
*157
1 130
878

4,161
1 594

5,670
1 597
254
2 498
1 320

4,953
1 178
343
2 229
1,203

6,093
1 574
392
2, 579
1,548

6,741
1 584

8,164
1 951

9,253
1 851
439
4 531
2,432

10, 175
2 040

63
64

Fuels and lubricants ' *®
Petroleum and products..

65

Paper and paper base stocks

66
67
68
69
70

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)

71

Building materials, except metals

1 014

1 351

1 990

2 472

1 993

1,556

2,396

3,312

4 388

4 840

3 734

72
73
74
75
76
77

Materials associated with durable goods output, n.e.s
Steelmaking materials
Iron and steel products
Other metals, primary and advanced, including advanced steel
Precious metals (gold, silver, platinum)
Nonmetals (oils gums resins, minerals rubber tires etc.)

6 719

7 268

8 364

10 034

3 071
3,236
608
1 299

3 196
4,050
964
1 819

15 471
1 356
5 559
6,124
1,525
2 432

13 332
1,744
4 606
4,826
1,128
2 157

14 724
1 872
4 380
5,787
1,001
2 685

17 796
1,852
6 001
6,729
1,327
3 214

21 499
1 848
7 586
8,522
1,815
3 542

24 910
2 202
7 759
10,650
3, 375
4 300

28 000
2 161
7 559
13, 795
5 716
4 485

78
79

.

764

1974

-

Capital goods, except automotive

.

-

--

Machinery except consumer-type

80

Electrical and electronic, and parts and attachments

81
82

Nonelectrical and parts and attachments
Construction, textile and other specialized industry machinery
and nonfann tractors .. -_
__
._ _

83
84
85
86
87

Other industrial machinery, n.e.s
Agricultural machinery and farm tractors
Business and office machines, computers, etc
Scientific, professional and service industry equipment
Transportation eQuipment, except automotive

88
89

Civilian aircraft, engines, parts
Civilian aircraft, complete, all types

90

Automotive vehicles, parts, and engines _ _

91
92

- __ _

From Canada
From all other areas

_

_

'ill

836
712

706
2 191
2,783
382
1 039

89
955
700

714
2 871
2,599
405
1 084

758

191

1 346
1,029

970

322

3 068
1,767

399
3,765
2,049

455

5 187
2 492

3 985

4 317

5,836

7,902

9 734

10, 143

12, 279

13,954

19, 182

24,584

29 624

3 780

4 075

5 369

7 268

9 055

9 505

11 812

13 280

17 994

22 591

26 176

966

1 118

1,550

2,353

3,096

2,899

4,430

4,365

5,861

7,764

9,556

2 814

2 957

3 819

4,915

5 959

6,605

7,382

8 916

12,133

14, 827

16, 620

596

719

945

1,086

1,178

1,261

1,321

1,670

2,403

2,602

2,857

1,552

667
878
732

2,075
850
977
879

2,423
998
1,014
909

2,582
1, 056
1,287
1,136

3,112
1,174
1,497
1,464

4,274
1,367
2,143
1,946

5,599
1,982
2,401
2,243

6,545
1.823
2,840
2,555

979
359
473
406

928
364
532
412

1 155

205

242

467

634

679

638

466

674

1,188

1,992

3,448

191
48

228
40

436
58

595
81

636
97

548
81

406
94

592
265

982
231

1,519

517

2,985
964

5,925

7,917

9,327

10,886

11, 961

11, 673

16, 155

18, 670

24, 315

25,558

27,062

3,555
2,370

4,532
3,385

5,259
4,068

5,893
4,993

5,554
6,406

5,752
5,921

7,846
8,308

9,133
9,537

10,357
13, 959

9,526
16, 032

8,588
18, 474

497
665
557

93
94
95

Passenger cars, new and used
Trucks, buses, and special vehicles
Bodies, engines, parts and accessories, n.e.s

3,731

5,091

1,464

1,991

835

5 730
1,129
2,468

6, 526
1,282
3,078

7,307
1,452
3,202

7,135
1,302
3,235

8,947
2,062
5,146

10,651
2,634
5,385

13, 674
3,709
6,932

14,842
3,759
6,957

16, 819
4,067
6,176

96

Consumer goods (nonfood) except automotive

7,404

8,392

11 111

12, 890

14,380

13, 211

17, 165

21, 796

28,943

30, 566

34,445

3,918
2,960

4,514
3,316

7,110
4,786

563

6,224
4,124
762

994

8,256
5,166
95S

6,805
5,479
927

8,405
7,488
1,272

11,760
8, 285
1,751

15, 326
11, 251
2,367

16,233
11,996
2,337

18, 461
13,066
2,918

1,476

1,722

1,832

2,095

2,486

2,802

2,795

2,938

3,298

3,651

4,647

97
98
99
100

Consumer durables manufactured
Consumer nondurables, manufactured
Unmanufactured consumer goods (gems, nursery stock)
Imports, n.e.s. (low value, goods returned, military aircraft, movies,
exhibits)
See footnotes on page 61.




730

526

SUEVEY OF CURRENT BUSINESS

June 1981

55

Merchandise Trade—Continued
of dollars]

Not seasonally adjusted
1979

Seasonally adjusted
1980

1979

1981

1980

1981

Line

I

II

III

IV

I

II

III

IV

IP

I

46,011

50,825

53,904

58,718

62,993

61,729

58, 193

61,956

65,064

46,106

50,588

54,062

58,702

63,024

61,658

58,299

61,890

65,256

4,063

4,471

4,057

4,775

4,488

4,504

4,314

4,821

4,854

4,002

4,371

4,302

4,691

4,501

4,406

4,467

4,753

5,019

57

1,247

1,311

1,274

1,517

1,527

1,628

1,506

1,594

1,575

1, 107

1,254

1,393

1,595

1,464

1,584

1,532

1,675

1,609

58

834
167

894
301

1,128
302

1,101
338

1,070
419

866
586

716
211

1,091
156

1,169
315

964
205

867
555

835
676

2,816

3,160

2,783

3,258

2,960

2,876

2,808

3,227

3,279

2,895

22, 169

24,984

28,703

31,877

35,496

33,479

29,937

32,054

34,968

22,113

12, 487
11,611

13, 864
12,873

17, 530
16,585

20,049
18,819

23,062
21,567

21,470
20, 146

18, 950
17,864

20,307
19,218

22, 530
21, 161

12, 173
11,342

II

843
293

3,117
25,249
14,432
13, 474

III

IV

I

973
434

II

1,035
415

III

994
430

IV

870
708

IP
56

766
757

59
60
61

2,909

3,096

3,037

2,821

2,936

3,078

3,410

28,363

32,008

35,224

33,955

29,625

32, 162

34,623

62

17,190
16, 169

20,135
18,903

22,531
21, 117

22, 314
21,037

18,586
17,386

20,358
19,255

21, 936
20,656

63
64

1,134

1,195

1,178

1,294

1,382

1,371

1,226

1,290

1,408

1, 136

1,173

1,196

1,296

1,385

1,348

1,248

1,288

1,411

65

2,169
462
156
941
611

2,449
486
122
1,224
617

2,275
454
98
1,152
571

2,360
449
63
1,215
632

2,617
549
126
1,325
617

2,717
545
172
1,388
612

2,298
461
91
1,155
590

2,542
485
66
1,319
673

3,039
629
172
1,498
739

2 100
459
128
923
589

2,338
476
102
1,172
588

2,383
460
121
1,207
596

2,432
456
88
1,229
658

2,548
544
107
1,307
592

2,588
535
143
1,330
579

2,415
464
112
1,219
620

2,623
497
94
1,330
702

2,967
625
142
1,483
716

66
67
68
69
70

868

892

945

964

1, 184

1,276

1,222

1,158

1,111

821

844

958

1,041

71

7,054
663
1,970
3,264
1,126
1,157

6,570
550
1,750
3,284
1,561
986

6,970
523
1,951
3,377
1,358
1,119

7,028
484
2,024
3,190
1,054
1,330

5,521
506
1,758
2,218
511
1,039

6,029
570
1,958
2,402
640
1,098

6,372
564
2,054
2,694
822
1,059

6,989
561
1,988
3,335
1,403
1,104

7,649
572
1,966
3,899
1,670
1,213

6,884
607
2.029
3,123
1,126
1,124

6,532
486
1,696
3,348
1,561
1,002

6,935
496
1,869
3,425
1,358
1,145

7,268
644
2,093
3,212
1,054
1,319

72
73
74
75
76
77

7,297

7,631

8,031

5,652

5,976

6,312

6,644

7,241

7,222

7,432

7,729

8,126

78

6,479

6,633

7,032

5,196

5,542

5,830

6,023

6,459

6,404

6,561

6,752

7,107

79

2,392

2,503

2,491

1,786

1,876

2,026

2,075

2,366

2,343

2,355

2,491

2,605

80

4,264
754

4,086
680

4,130
725

4,541
852

3,410
617

3,666
662

3,804
661

3,947
662

4,093
705

4,061
704

4,206
678

4,260
770

4,501
863

81
82

1,527
608
705
602

1,696
527
656
630

1,668
377
711
649

1,654
312
768
673

1,779
429
784
697

1,252
430
585
526

1,367
466
618
553

1,416
550
605
572

1,563
537
593
591

1,507
576
700
605

1,628
458
649
623

1,705
432
737
654

1,706
357
754
673

1,756
403
779
700

83
84
85
86

770

862

818

998

998

455

433

481

623

781

817

871

979

736
164

896
325

960
297

1,090

1,338

1,282

1,129

1,029

5,289
362
1,683
2,197
511
1,047

6,138
619
1,880
2,508
640
1,131

6,437
638
2,111
2,645
822
1,043

7,047
584
2,085
3,300
1,403
1,079

7,406
425
1,888
3,870
1,670
1,223

5,599

6,230

6,213

6,542

7,168

7,528

5,152

5,775

5, 757

5,908

6,399

6,665

1,699

1,916

2,062

2,088

2, 259

2,401

3,453
611

3,859
706

3,695
663

3,820
622

4,140
698

1,268
462
588
523

1,422
546
625
561

1,389
492
584
568

1,520
482
605
591

448

455

455

634

686
202

6,392

6,404

6,466

6,399

7,016

7,181

6,720

90

2,305
4,087

2,119
4,285

2,031
4,436

1,857
4,542

2,053
4,963

2,647
4,533

2,045
4,676

91
92

3,807
874
1,712

3,886
916
1,602

4,027
897
1,542

3,978
973
1,447

4,400
1,134
1,482

4,414
1,062
1,705

4,065
1,034
1,621

93
94
95

7,451

7,768

8,022

8,548

8,581

8,554

8,762

9,329

96

3,938
2,966
547

4,153
3,047
569

4,283
3,064
674

4,489
3,181
878

4,694
3,238
649

4,544
3,345
666

4,735
3,301
725

5,060
3,498
771

97
98
99

893

925

933

1,044

1,095

1,205

1,303

1,439

100

328
85

500
232

656
274

732
202

683
164

6,494

6,902

5,725

6,437

6,842

6,634

6,327

7,259

7,115

6,114

6,648

2,890
3,604

2,485
4,417

1,885
3,840

2,266
4,171

2,181
4,660

1,903
4,731

1,649
4,679

2,855
4,404

2,217
4,898

2,688
3,426

2,414
4,234

3,615
1,002
1,877

4,053
1,024
1,825

3,345
767
1,613

3,829
965
1,643

4,329
946
1,566

4,213
964
1,458

3,907
1,013
1,407

4,370
1,144
1,745

4,366
1,102
1,648

3,344
929
1,841

3,806
1,039
1,803

6,831

7,323

8,281

8,131

8,010

8,461

9,122

8,852

8,725

7,325

3,494
2,771
565

3,903
2,866
554

4,294
3,424
563

4,542
2,934
656

4,089
3,019
902

4,669
3,139
652

4,709
3,759
654

4,994
3,149
709

4,610
3,324
791

3,859
2, 918
547

855

915

925

956

989

1,123

1,196

1,339

1,371

900




353
120

88
89

667
274

345
80

940
297

87

489
232

346
120

914
325

1,019

324
80

353
85

SUEVEY OF CUEEENT BUSINESS

56

June 1981

Table 4.—Selected U.S. Government Transactions
[Millions of dollars]
1978

Line

Al

1979

1979

1980

U.S. Government grants (excluding military) and transactions increasing Government
assets, total
10 768 11,196 14 192

19 30

1981

I

II

III

IV

I

II

III

IV

2 791

2 801

2 647

2 957

3 779

3 089

3 468

3 856

854
51
803

911
206
705

881
243
638

890

787
46
741

Q19

890

1 336
442
894

1 808 2 071

2 614

2 365

216
171
133
110
1 671 1 852 2 300 2 099
4
1
2
37
93
72
97

IP

3 324

By category
Grants net (table 1 line 34 with sign reversed)
Financing military purchases *...._
Other grants

6
8
10
11
12
-10

1c

1Q

1Q
21

22

3 183 3 536 4 ftKQ
'500
500
750
2 683 3 036 3 909

•

Loans and other long-term assets (table 1, line 44, with sign reversed)
Capital subscriptions and contributions to international financial institutions, excluding IMF
.
_
Credits repayable in U.S. dollars .
Credits repayable in foreign currencies
Other long-term assets
-Foreign currency holdings and short-term assets, net (table 1, line 46, with sign reversed).
Foreign currency holdings (excluding administrative cash holdings) , net
Receipts from —
Interest
.Repayments of principal
Reverse grants
-Other sources
--- —
Less disbursements for —
Grants and credits in the recipient's currency
- -Other grants and credits
Other U S Government expenditures
- Assets held under Commodity Credit Corporation
Charter Act, netAssets financing military sales contracts net 2
Other short-term assets (including changes in administrative cash holdings), net

7 470

7 676

9 812

1 891 1 906

867
551
6 573 7 006
' 26
5

46
72

796
8 629
13
375

163
1 727
I

146
1 756
jj

115
91

-16
111

-280
141

47
27

-16
23

-42
33

(*)
75
137

(*)
68
143
4

115

4s

(*)
17
50

(*)
15
30

(*)
21
24
1

I

-171
12

-63
68

15
39
I

(*)
18
37
I

(*)
11
27

-5
9R

QKfl

o cxq

1 624
250
1 374
o onn

9 17fi

287
2 152
7
97

121
2 079
3
88

100
2 296
/*\
90

12

-58

-202

u

U

13
900

00

950

e-i

9Q

14

2

g

(*)
16
24
4

16
(*)
306
168

22

14

3

5

5

9

4

3

4

3

12

304
75

315
132

94
60

63
38

73
17

74
g

64
96

111
18

73
28

67
46

97
105

38

20

-6

14

-31

7

29

-63

23

17

17

-46

110
216
333
337
1 435 2 337
692
725
275
273
56
55

171
435
1 250
917
282
46

287
447
1 627
807
189
44

121
316
2 303
920
165
41

190
293
1 993
839
107
58

64
63

111
100

73
139

67
57

97
59

18

(*)

n
27

i

37
1

2

By program
23
f)A

9fi
97

29

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 acouired (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 ^

867
1 237
5 622
1 237
1 681
231
306
200

796
551
163
247
1 407 1 531
5 740 7 516 1 558
1 876 3 336
325
909
450
1 539
215
187
69
304
171

315
232

94
74

146
133
454
370
1 565 1 182
'421
405
322
493
46
45
63
U

73
9

74
95

By disposition 3
qi
OO
00
04.
OK
36
07
00
OQ

4Q
41
42
43
Bl
2
3
4
5
g
7

[Estimated transactions involving no direct dollar outflow from the United States
Expenditures on U S merchandise
- Expenditures on U.S services*
Financing of military sales contracts by U S Government 5 (line C6)
By long-term credits l
- -By short-term
credits
By grants 1
l
U S Government grants and credits to repay prior U.S. Government credits *
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)
Less receipts on short-term U.S. Government assets (a) financing military sales contracts i and (b)financingrepayments of private credits
|
Less foreign currencies used by U.S. Government other than for grants or credits (line
A19) .
--

8 337
3 812
1 497
1 563
1 063

8 460
4 598
1 214
1 388
888

500
247
1 656

500
319
1 541

Receiptsof 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

-

Receipts on other long-term assets

-

Associated with other liabilities _
Sales of nuclear materials by Department of Energy
Other sales and miscellaneous operations
German Government 10-year loan to U S Government

See footnotes on page 61.




^

C)

-1

(*)

99
172

442
61
216

46
103
232

13
78
197

250
118
5

(*)
C)

1

1

-2

3

1

113

68

74

42

192

82

60

49

306

304

315

94

63

73

74

64

111

73

67

2,736

4,222

825

522

397

991

1,335

626

965

2,942

3,893

4,367

775

972

965

1, 181

917

1,166

2,908
218
907
1,084
698

3,740
282
1,095
1,299
1,064

3,959
281
1,178
1,301
1,200

771
59
234
336
142

947
55
271
349
272

965
48
225
292
400

1,057
119
365
323
250

822
44
238
308
232

1,066
65
355
322
325

154

408

4

25

636

-22

344

34

1,399
Associated with military sales contracts 2
•-- U.S. Government cash receipts from foreign governments (includingl principal repayments on credits financing military sales contracts), net of refunds _ _
_ ._ _
8,442
L ess U . S . G o vernment cash rec eipts from principal repayments
517
Less U.S. Treasury securities issued in connection with prepayments for military purchases in the United States
1 563
Plus financing of military sales contracts by U.S. Government 5 (line A34)
1,063
By long-term credits
By short-term credits*
500
By grants *
Less transfers of 12
goods and services (including transfers financed by grants to Israel,
8,090
and by credits) (table 1, line 3)

12
13
14
15

243
37
451

382

2
3

Associated with U.S. Government grants and transactions increasing Government
assets (including changes in retained accounts)* (line A40)
- -

206
79
377

1

U.S. Government liabilities other than securities, total, net increase (+) (table 1, line 61) ... 2,359

11

51
104
542

297

Cl

4
5
6
7
g
9
10

750
360
650

128

(*)

Estimated dollar payments to foreign countries and internationalfinancialinstitutions. . 2,431
Repayments on U S. Government long-term assets, total (table 1, line 45)

2 566
9 970 1 966 2 279 2 250 1 966 2 444 2 463 2 503 2 559
6*071 1 043 1 180 1 198 1 177 1 561 1 671 1 337 1 502 1 492
306
450
279
530
495
1 611
286
337
304
287
295
344
490
425
555
738
1 974
471
197
585
295
299
1 224
305
738
264
143
478
146
183

-133

(*)
314

•(*)

88

105
97

1,297

758

1,108

1,177

946

999
54
248
340
358

1,072
117
338
331
286

851
58
241
342
210

124

95

100

108

105

96

-768

-68

420

80

205

55

—11

780

—57

388

336

—679

-96

467

299

111

222

7,566
565

8,365
576

1,761
120

1,757
135

1,649
140

2,399
172

1,825
128

1,928
163

2,298
134

2,313
151

2,190
134

1,790
1,388
888

752
1,974
1,224

197
146

471
264

425
183

1,790
295
295

640
585
143

—442
344
299

84
490
477

470
555
305

603
738
738

750

51

206

243

442

46

13

250

2,085

2,272

2,136

500

6,609

8,231

(*)

1

1

960
1,025
-66

-123
12
-59
—75

-145
-80
10
—75

1,894
(*)
34
-26
61

1,705

1,599

1,411

1,738

-1

(*)

1

-2

(*)

3

-1

-44
33
-77

-22
—22
(*)

-90
28
-43
—75

30
-48
78

-47
26
-73

-222
-61
-86
-75

94
3
91

1,969
(*)

-167
-54
-113

SUKVEY OF CURRENT BUSINESS

June 1981

57

Table 5.—Direct Investment: Income and Capital
[Millions of dollars]
1980

19 79

(Credits +; debits -)

Line

1978

1979

1980

I

II

1981

III

IV

I

II

III

11 714

7 306

8 700

IV

I»

9 123

8 483

5 723

4 488

U.S. direct investment abroad:
1
2
3
4
5
6
7
g
9
10
11
12
13
14
15
16

17

Income (table 1 line 11)
Interest, dividends, and earnings of unincorporated affiliates (table
1, line 12)
Interest..
.
Dividends
Earnings of unincorporated affiliates
Reinvested earnings of incorporated affiliates (table 1, line 13)
Capital (outflow (— )) (table 1, line 48)
Equity and intercompany accounts (table 1 line 49)
Incorporated affiliates. .
Equity. 1
Increase
Decrease2
_ .
Intercompany accounts
U.S. parents' receivables
U.S. parents' pay ables
. . .
Unincorporated affiliates
Reinvested earnings of incorporated affiliates (table 1, line 50)

25 458

38 330

14 115
776
7 301
6 035
11 343

19 366

—16 056
—4 713
—2 Oil

—658
—3 887
3 229
— 1,352
—2 121

36 842

8 065

9 398

9 879

10 989

19 345

3 905

4 549
1 977
2 379
4 849

4 914
'l85
4 350
2*379
4 965

5 999

1 843
1 818
4 160

5 787

4 916

239

3 418

163
4 955
2 881
4 991

2 124
3 424
5 927

2 595
'751
3 888

2 455
2*329
3 783

3 534
2*152
3 399

na
na
na
3 996

—23 949 —18 546 —5 954 —7 291 —5 724 —4 981 —5 519 —2 856 —3 295 —6 876

—1 537

— 1 548
10
1 032
—759
408
489
1 794 —2 441
— 1 586 — 1 150
—608
1 436
—235
717
—556
464
-490 -1,269
—2, 607
—34
—454
—87
—377
—263
—5 533
—930 — 1 921
736
—858
—678 — 1 272 — 1 707
782
2 925
438
595
896
1 467
591
359
2,705
1,021
— 102
28
751
— 118
—772
551
—2 230
288
962 —1 233
—945 — 1 122 — 1 143 — 1 004
3 252
886
2 417
1 262
190
1 696
1 020 1 695
1 639
—947
38
566
—56
644 —2 206 — 1 476
-16,998 -4,160 -4,849 -4,965 -4, 991 -5,927 -3,888 -3,783

—3 477
—2, 879
-761
— 1 876
1 115
-2, 117
—370
—1,748
—598
-3, 399

2 458
na
na
na
na
n.a.
na
n a.
na
-3,996

783

9 126
9 457
18 965

—4 984
— 1 224
— 1,128
—4 446
3,317

—96

—4 262
4 167
—2 702 —3 760
-11,343 -18,965

768

482
10 708
8*656
16 998

244

192

72

133

38

By industry of affiliate:3
19
20

Income (line 1):
Petroleum
Manufacturing
Other

21
22
23

6 009
9 980
9 467

13 413
13 054
11,863

13 022
11 263
12 558

2 472
3 026
2 567

2 779
3 412
3 206

3 847
3 026
3 007

4 316
3 590
3 083

5 503
3 206
3 005

928
2 529
3,849

3 394
2,300
3,005

3 196
3 227
2,699

na
n.a.
n.a.

Interest, dividends, and earnings of unincorporated affiliates (line 2):
Petroleum .
.
.._.
Manfacturing
Other
..
..
... .

4 505
4 401
5 207

7,999
5 438
5 929

8,469
4 899
6 478

1 333
1 164
1 407

1 697
1 046
1,806

2,240
1 410
1 264

2,729
1 818
1,451

3,135
1 353
1,300

112
1 176
2,129

2,120
1 230
1,566

3,102
1,139
1,483

n.a.
na
n.a.

24
25
26

Reinvested earnings of incorporated affiliates (line 6, or line 17 with
sign reversed):
Petroleum
_.
Manufacturing
Other
.
_. .

1,504
5 578
4 259

5,414
7 616
5,934

4,553
6 364
6 080

1,138
1 862
1 160

1,083
2,366
1,401

1,607
1,616
1,743

1,587
1,772
1,632

2,368
1,853
1,705

1,274
1,070
1,439

95

1,353
1,719

2,088
1,217

n.a.
na
n.a.

27
28
29

Equity and intercompany accounts (outflow (-)) (line 8):
Petroleum...
Manufacturing
Other

—343
— 1 883
—2 487

-3 120
— 1 175
—688

2,757
—3 543
—763

—313 -1,373
— 129
—823
—939
—658

-477
—762

-957

2,107
1,399
—321 -1,025
-50
-670

365 -1,114
62 -2,259
61
-104

1,694
n.a.
n.a.

—4 211

—6 357

—9, 336 — 1 423 -1, 623 -1, 769 -1,542 -1, 912 -2, 105 -3,254 -2,066

-1, 892

—1 628
—309
-776
—543
-2,583

—2 402

—3 147
-842
-1,311
—993
-6, 190

-111
—695
-628 -1,047
-648
-196
-222
-211
-213
-209
-271
-377
-225
-438
-275
—397
-96
-310
— 164
-190
-894 -1,284 -1,058 -2, 476 -1, 371

—774

-996
—812
-3, 955

7,897

11, 877

10,854

5,313
4 965
2,920
3 158
—238
2 045
2,236
-190

7,921
7 261
4,090
4 413
—324
3 172
3,822
-651

4,664
4,110
4,162
4 594
—433

18

.

.

481

539
428

816

Foreign direct investment in the United States:

32
33
34
35

Income (table 1, line 27)
Interest, dividends, and earnings of unincorporated affiliates (table
1, line 28)
Interest
.
.
.
.
Dividends.
_
_.
Earnings of unincorporated affiliates
Reinvested earnings of incorporated affiliates (table 1, line 29)

36

Capital (inflow (+)) (table 1, line 65)

30
31

37
38
39
40
41
42
43
44
45
46

Equity and intercompany accounts (table 1, line 66)
Incorporated affiliates
Equity
Increase *2
Decrease .
Intercompany accounts
U.S. affiliates' payables
U.S. affiliates' receivables
_ _
Unincorporated affiliates
Reinvested earnings of incorporated affiliates (table 1, line 67)
By industry of affiliate: s
Income (line 30) :
Petroleum
Manufacturing
Other

594

-621
-568
—566
-123
-151
—111
-204
-279
-239
—241
— 191
—216
-1,056
-1,
148
-858
1,553

696
561
391
444
—53
170
460

-182
-367
—225
-1, 118

3,353

3,382

3,588

2,221

3,884

2,690

2,060

1,965

2,298
2,157
1,093
1,259
-166
1,064
1,172
-108

2,234
2,040
1,100
1,119

2,694
2,503
1,505
1 592

2,825
2,568

213
46
770
881

688
543

-18
940

937
954
761
958

847
762
579
629
-50
183
686

978

1,028

1,652
1,727

1,590
1,267

-16

322
258

-111
-75
-724
-1,109
-469
188
-255 -1, 297

167

146

-503

1,284

1,058

2,476

1,371

1,118

-50

348

660

554

194

3,955

6,190

134
858

141

2,583

1,056

1,148

—87
998
930
68
191
894

—1 239
—1, 149
-1,822

—2 037
—1, 699
-2, 622

—3,281
-2, 478
-3, 577

—514
-428
-481

-482
-447
-695

-637
-407
-725

-404
-416
-721

-775
-816
-815
-1, 494
-249
-417
-985
-679 -1,041

-876
-318
-872

-848
-247
-798

—299
—490
—839

—392
-680
—1 317

-610
-902
—1,635

-87
-170
-309

—103
-142
-322

-93

52

Interest, dividends, and earnings of unincorporated affiliates (line 31):
Petroleum
Manufacturing
__
Other

-166
-362

-110
-214
—324

-129
-219
-280

-164
-305
—578

-160
-166
-452

-158
-212
-325

-184
-254
-335

53
54
55

Reinvested earnings of incorporated affiliates (line 35, or line 46 with
sign reversed) :
Petroleum ..
_
Manufacturing
_.
Other

-940
-660
—983

-1,645
-1,006
—1 305

-2, 671
-1,576
-1, 942

-427
-258
-172

-379
-304
-373

-544
-241
-363

-294
-203
-397

-688
-198
-398

-651

-615

-664

56
57
58

Equity and intercompany accounts (inflow (+)) (line 37):
Petroleum
Manufacturing.
.
Other

303

499
2,667
4,755

-324
1,684
3,304

100
320
276

104
507

87
708

210

2,537
2,473

1,687

1,439

94
402
442

47
48
49
50

See footnotes on page 61.




—51
1,772
-1,823

-290

1,261
-321

1,131
1,353

-197

192
786

-594

-464

-533

-718
-106
-547

24
878

-186

-255

56 -1,328

1,924

83
317

321
623

85

8
-462

248
430
168

SURVEY OF CURRENT BUSINESS

58

June 1981

Table 6.—Securities Transactions
[Millions of dollars]
(Credits (+); debits (-))

Line

1979

1980

I

Al

19!jo

19 79

1978

Foreign securities, net U.S. purchases (-), balance of payments basis (table 1,
line 51 or lines 6 + 17 below)
- —3 582

II

—4 552 —3, 310

—856

— 786 -2,084

tl

III

IV

476 —2 247

I

II

1981

III

—974

766

1 3fi9

—A12

668

«/ /

IV

IP

010

9KC

JOQ

857

_«on

1 in
IjU

007

01 c

Stocks:
2
3
4
5

6(7
Adjustments:
Less recorded in table 1 . line 48 as U.S. direct investment abroad
Plus exchange of stock associated with direct investment in the United States,.
Plus other adjustments . _ _

g
7

10

11
12
13

64

Other foreign stocks
Western Europe
Canada
Other

-

-

_

-102
76

-- --

629
334
—63
376
—18

-

-

-

— 469

64

80

80
at

-100

527
Newly issued in the United States

61

—850 -2 264
-131
113

24

-516
276

-13
13

—719 — 1 748
72
—417
—799
—510
25
-781

—17

-40

37
40
—17
36
—22

— 4 181 —5 856

— SAB

— 879

61

—523

—412

653

-118
100

4.KQ

36

-78

-283
211

OQA

CKA

—59
9

653
128
458
19
—48

37
225
115
3

—637 — 1 715

694

113

911

22

132
562

61
31
—22
63
—11

—405

—53

412
54

—344
— 15

—416

7

140

-155
fiS
1A1

14.0

00

IftA

69
421
24

241
226
12

44
359
445
10

19

160

Bonds:

14

Treasury basis net1

15
16

Adjustments:
Plus additional Canadian redemptions
Plus other adjustments

17

Balance of payments basis, net

18

19
20
21
22
23
24
25
26

_.
z

72
-

Newly issued in the United States
By type' Privately placed
Publicly offered

-

By area* Western Europe
Canada
Japan
Latin America.
Other countries
International financial institutions 3

27
28
29
30

Redemptions of U S.-held foreign bonds 2
Canada
Other countries
International financial institutions 3

31
32
33
34
35

Other transactions in outstanding bonds 2
Western Europe .
Canada
- -Japan
Other
— _

Bl

_

--

—4 109 —3 701 —1 045

—879

537

1 723

--

5 952 —4 458
3 330
1 490
—796
—675
—321
—1 483
—3
662
—2
655
—4 469
—1 169

824
159

1 410

—665 —1 277

—1 712 —2 029
—967
—3 479 —1 886 —1 808

—525
—220

-

-

98
172

79
43

60
7

—491

—322

—389

1 401

689
190
522

-

442
822
-

U.S. securities, excluding Treasury issues and transactions by foreign official
agencies, net foreign purchases (+), balance of payments basis (table 1,
line 69, or lines 5+12 below)
_
_

-99

—99

1 678
*872

2 528
*901

462
344

478
1 149

—596
—696

734
183
551

200
113

911
730
130
600

19

40

040

1 IV?
1 002

752
209
543

374
624

543

533

375

264

325

462
113
349
4

—733

—238

-643

—325

—216

10
111

n

133

79
5
—60

28
—74
-96

—76
—3

367
164
72
131

274
153
75
46

400
205
98
97

243
26

14
—184

—714
—520
—202

1 006

302
704

60

130

92

80

83
—99

134

100
109

637
350
217
70

111

277
131
369

350
219
35
96

694
202
117
375

707
203
195
309

292
160
60
72

—465
—290
—171
—113

116
215
-76

—531
—432
—235

—213
—154

—123

109

100

3
133

133

385
282
—53
42
114

112

—922
—968
—521
—134

—399
-234

701

480

30
297

-38
46
190

2,254

1,334

5,384

425

540

157

213

2,435

468

241

2,240

2 449

2,422

1,669

6,867

697

360

226

377

2,163

407

754

2,033

1 663

-1,099

-622

—7 —1,—91
094

-273

-84

—7
—81

-184

—167

—91
—61

—716

—160

1 323

1 030

276
145
112
38
-19

193
119
130
-61
5

1 996
1 519

301
15
161

255
289
—44
-76
86

38
7f>
71
-66
—43

1 883
1 190

479

424
150
58
119
97

5,448

-62

475

438

421

1,432

1,252

1,600

1,264

2,068

-978 -4, 236

63

-211

-419

-401

-993 -1,040 -1, 296

-907

-1,310

1
62

264
120

19
65

20

439

204
100

357

758
200

172

7
137

88
—134

58
—38

155
284

145

12
91

25
332

1
557

—3

125

—35

—86

120

163

122

—229
—155
_-

200

-

- --

154

0/0

4

—243

—90

-110

-97
105

—36
-156

—153

—5
139
131

Stocks:

2

Treasury basis, net1.

3

4

Adjustments:
Plus exchange of stock associated with U.S. direct investment abroad
Plus other adjustments *
_

5
g
7
g
g

Balance of payments basis net
Western Europe
Canada
Japan.. _
Other

.

:-—

—

—

—

914
74
76
259

221
552
127
130

4 172
3,074

774

-155

137
—193

252
31
47

445
-28
276

27
1 690
1 303

220
-48
222

Bonds:

10

Treasur y basis, net J

11

Adjustments*

12
13
14

Balanceofpaymentsbasis.net
New issues sold abroad by U S corporations
Investments by international financial institutions 3 in nonguaranteed
bonds of U.S. federally sponsored agencies
Other transactions in U. S. bonds

15
16

Of which United Kingdom

See footnotes on page 61.




-

2,296
-1,865

1,282

931
358

304
247

1,212

313
260

-80
137

—13
853

267

87

392

372

-233

195

212
272
-205

June 1981

SUKVEY OF CUERENT BUSINESS

59

Table 7.—Claims and Liabilities on Unaffiliated Foreigners Reported by U.S. Nonbanking Concernsl
[Millions of dollars]

Line

Al

2
3

(Credits (+ ); increase in U.S. liabilities or increase in U.S. assets.
Debits (— ); decrease in U.S. liabilities or increase in U.S. assets.)

1979

19 79

1980
I

Claims, total
Long-term (table 1 line 52) 2 2
Short-term (table 1, line 53)

.
.

4
5
6
7
8
9
10
11
12
13

Financial claims
Denominated in U.S. dollars
Denominated in foreign currencies
By area: Industrial countries 3
Of which United Kingdom
Canada
Caribbean banking centers 4
Other
.
. .
By type: Deposits
Other claims

14
15
16
17
18
19
20
21

Commercial claims
Denominated in U.S. dollars
Denominated in foreign currencies
By area: Industrial countries 3 6
Oil-exporting countries ___
Other
By type: Trade receivables
Other claims

Bl
2
3

1978

Liabilities, total
Long-term (table 1, line 70) 22
Short-term (table 1, line 71)

.
.

.
.

—840 —3 562
— 1 513 — 1 175 —3 746
—98
184
335
— 1 110
306
—805
— 1 041
—408
199
—750
—330
114
—438 — 1, 124 —2 793

.

—63
— 1 424
— 187

Financial liabilities
Denominated in U.S. dollars
Denominated in foreign currencies
By area: Industrial countries 3 . .
Of which United Kingdom
Caribbean banking centers *
Other
.
.

11
12
13
14
15
16
17
18

Commercial liabilities
Denominated in U.S. dollars
Denominated in foreign currencies
By area* Industrial countries 3 5
Oil-exporting countries
Other
By type: Trade payables
Other liabilities.

1 001
873
262
218
—90

1 064

/ 166
-92
880
—336
520
372
692

379
928
—253
—86
215

1 246
978
268

416
—86
502

1 092
697
395

5 109
1 054
4 055

—368
81
—449

1 010
— 109
1 119

177
77
100

3 548

— 10

79
—2

1 949
1,380
1 474
125

—244
—38
—206
—224
—41
—24
4

—62
— 115
18
34

132
3
—77
24

1 561

— 124

1 020

98

70

736
1 072
—247
999
562

—63
—285
224
—480
356

185
— 127
40
—251
349

340
—98
-172
329
—259

3 055
493

/ A63
108

74
-84

1 176
1 027
415
301
— 152

16
64

59
39

418
174
428
774
246

483

509
-26

1,220
—44

81

1 025
—5

56
-180

32
6

283

—719

601 — / 137
—218
418

74
—65
105
642
1
885
—167

64
—44
18
-7
45

38

IV

343 —2 005
328
457
671 —2 462

717

—626
—608
—18
—68
-235
—323
—578
—48

— 110
—65
—89
-308
44

-238
—26

615
—6

III

741
—24

—982
—778
-920
-789
H
—62
—454
—515
6
—52
—211
—534
—696 -1,008
26
—82

220
-80
469
718
— 109

2 065
1 027
1 038

1 254
253

1 054 — 1 121
180
443
457
274
-70
—45
441 — 1,355
170
54
1,254 — 1,093
—200
—28

1981

92
—604
696

1 486 — / 280
—432
159

217
—546
—872

-264

—10
—685

II

72 -1,083
392
—24
96 — 1 475

129
—88

-202
—219
86
986
— 16
971
—203

I

609

—83
—859

— 191
—313
—365
—815
— 1 294 — 1,801
—12
— 121

._

768

836
—67

36
—22
—729 —3,563
1
— 111

— 1,415 — 1,813
-1,332 -1,803

1 717
— 190
1,907

IV

III

504
—649
376
—536
1 040 — 1 025

-3, 853 —3, 026 —2 653 -2 953
—53
— 17
—201
—83
—3,800 —2 825 —2 570 —2 936
— 1 611

.

4
5
6
7
g
9
10

II

IS 80

190
— 138
—319
309
—27
106
291
—702
— 198
121
517 — 1 038
—234
318
60 — 1 285

62 — / 289
4
—2
49
—730

—6
—28
17
—527
51 — 1 267
9
— 18

498

126
372

na

33 749
6 087
27 662

na
7i a
na
na
na
na
na
na
na
na

18 979

na
na

na
n.a.
na
na
n a.
na
n a.
na

16 562
2 417

10 834
4 865
4 698
5 810
2 335
13 223
5 756
14 770

14 346
424

7 837
1 771
5 162
13 873
897

373
456
—83

3 228
— 13
3 241

na
na
n a.

28 632
4 557
24 075

24

2 543

10 844

1 229

na
n.a.
n.a.
na
n.a.
na
n a.

104
—80

2 316
227

191
196
264
28

632
215
—20
— 114

— 103
90
— 19
146

—67
— 11
—56
52
— 117
—2
—242
175

594

349

685

151
277
166
127
467

150
307
—108
289
60

-303

636
68

I

Amounts
outstanding
Dec. 31,
1980

338
11

879

1 249

65

690
95

383
605

825

-140

n a.
n.a.
n.a.
na
n.a.
n.a.
n.a.
n.a.

8 140
2,704
7 686
3 753
2 387
771

17 788

16, 873
915

5 890
9,559
2,339
11 969
5,819

See footnotes on page 61.
Table 8.—Claims on Foreigners Reported by U.S. Banks 1
[ Millions of dollars]
1980

1979

Line

(Credits (+); decrease in U.S. assets. Debits (-);
increase in U.S. assets.)

1 Total (table 1, lines 54 & 55)
2

3
4
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

By area;
Industrial countries 2
Of which United Kingdom 3
Caribbean banking centers
Oil-exporting countries *
Other
Of which Latin American countries
Asian countries
African countries
.

1978

1979

1980

I

-33, 667 —26,213 —46 947
—18, 147
_ _ _ —4, 614
-2,088
—3, 498
—9, 934
—7 108
—2 621
—106

—13 906 —14 302
— 10 092 —2 812
2,335 —16, 845
241 — 1 746
—14 883 —14 054
—11 436 —8 870
—2 795 —4 408
-99
—303

By type:
Payable in dollars
—31 994 —27 243 —44 777
Banks' claims for own account
n.a. —18 398 —38 759
On own foreign offices
n.a. —5, 823 — 17,656
Of U.S. -owned banks
n a.
3 413 — 12 789
Of foreign-owned banks in the United States.
n.a. -9, 236 -4,867
On foreign public borrowers *
n a. —5 592 —5 006
On other foreign banks
_
n.a.
—445 —9 288
Of which deposits
n a.
—845 —1 979
On other foreigners
_ ._
n.a. —6,538 —6 809
Banks' claims for domestic customers' accountsn.a. -8,845 -6,018
Deposits
_ _ _
__
n.a.
—475
Negotiable and readily transferable instruments
n.a.
-7,704 -2, 474
Collections outstanding and other claims
—666 —3 615
n a.
Pavable in foreign currencies
1,030 —2 170
—1 673
Banks' claims for own account
1,252 —1 787
n.a.
Of which deposits
—911
800 —1,513
Banks' claims for domestic customers' accounts —
-383
-222
n.a.
Of which deposits
—148
—474
n.a.
Memoranda :
Claims on foreign public borrowers (incl. in line 15
above):
Long-term
Short-term
Claims on all other foreigners (incl. in lines 16 & 18
above);
Long-term
Short-term
U.S. banks' dollar acceptances payable by foreigners..


See footnotes on page 61.


II

IV

III

I

II

1981

III

IV

IP

Amounts
outstanding
March
31, 1981

5 926

—7 921 —17 833

—6 385

—1 203 —20 165 — 12 440 —13 139 -11,163

215, 138

2 258
1 003
3 827
1 020
—1 179

—3 791 —10 892
—3 434 —5 439
—1, 271
—226
54
—746
—2 913 —5 969
1 890 — 4 831
—836
843

—1 481
—2 222

—3 439
1 235
1 638

—8,548
-3, 522
-3,900

152
957
45

90,443
30,546
50,031
10, 554
64,110
43, 867
16, 493
1,430

371 20 324 —12 313 — 11 769 —11 648
2 126 —17 749 —11 982 —11 154 —6, 702
1 399 —10 241 —5 610 —3,204 -9,485
2 012 —7 176 —6 254 —1 371 —6, 727
644 -1,833 -2,758
-613 -3,065
114
—357 —3 095 — 1 633
79
3,719
1 379 —4 302 —2 112 —4,253
991
—1
042
772 —1 020
—689
—731 —2 849 —1 165 —2 064 -1,050
-331
-615 -4,946
-2, 497 -2, 575
516
197
—253
—171
298

210, 455
179, 404
74,569
44,260
30,309
20, 830
46, 496
7,263
37,509
31,051
369

-4,357
-1,105

518
580

19,930
10, 752
4,683
4,239
1,697
444
100

273

—1 025
' 71
5 062
6 985
4 914
6 266
-1,352
—791
3 172
—705
—310
-1,923
—238

5
—87

76

91

373
225
518
110

—154

—103

—7 913 — 17 383
—7 085 —12 074
—778 —2 253
608 —1 178
-1,386 -1,075
—469 —2 870
—4 250 —4 464
—870
—111
—1 588 —2 487
-828 -5,309
36
—293

7 009
—6 224
—7*706
—2 283
-5,423
1 462
5 097

—92

—4 822
4 442

841
—2 153
-785
20

—1 404
—281

-597
—267

—4 839
—177
—450
—415

—864

—8
91

—3

-118
—93

—165
-99
—47

59
624
594
382

-35
10

30
—18

864
982
586

n.a.
n.a.

—2 975
-2,600

—1 781
—2 803

—587

—518

—44

18

—1,287
—1,500

—583
—1,074

n.a.
n.a.
n.a.

—2, 765 —1,382
—4,206 —14, 709
-2,991 -4,694

—303
2,964
-236

—967
-4, 677
-1,718

-224
-6, 778
-2,884

—1, 271
4,285
1,847

—9 186
—5 616
—6 910

258
—4 32?
1 905
2 499

21

1 606
3 110
—8 770
—1 059
—4 217
—2 903
— 1 199
—131

—3 283
—1, 541
—2,803
—1 318
—5, 735
4 580
—820

—90

—69

1,354

122

—79

261
338

202
91

-313
—499
—1,370
-1,003
—1,338
-367
—533

—222

-80

421

—414

-1 050
-1,709

-429
-1, 101

-7
265

10,158
10, 519

—419
-2,585
-1,058

-972
-5,332

-483
2,292
-1,737

70,336
13,775
24,452

—1 663
—581
—832
—353
—218
-479
—370

—91
622
-2,123

—2,682
—191

—102

2,184
—2 344
—127
—329

159

100
-7, 414
-2,232

719

485
—33
810

SUEVEY OF CURRENT BUSINESS

60

June 1981

Table 9.—Foreign Officials Assets in the United States and Other Foreign Assets in the United States Reported by U.S. Banks l
[Millions of dollars]
1979

Line

Al
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
Bl

2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20

(Credits (+); increase in foreign assets. Debits (-); decrease in
foreign assets.)

1979

33,561 -13,757

Foreign official assets in the United States, net (table 1, line 57) ..

1980

I

II

15,492 -8,688 -9,785

1980
III

IV

I

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 68, 72, and 73)
By area:
Industrial countries *
Caribbean banking centers 5
O il-exporting countries *
Other countries
International financial institutions *

-

By type:
Foreign commercial banks
.
. ..
U.S. Treasury bills and certificates
U S li abilities reported by U.S. banks
Banks' liabilities for own account 2
. Payable in dollars
_. .
To own foreign offices
Of U S -owned banks
-Of foreign-owned banks in the United States
To other foreign banks
Demand deposits
Time deposits 2
Other
Payable in foreign currencies
Banks ' custody liabilities, payable in dollars 2 3
Internationalf i n a n c i a linstitutions '
-U .S . Treasury securities
- Bills and certificates
Bonds and notes marketable
U S liabilities reported by U S banks
Banks' liabilities for own account payable in dollars 2
Demand deposits
Time deposits 2 . . . .
Other
Banks' custody liabilities, payable in dollars 2 3

31
32
33
34
35
36
37
38
39
40
41

Other private foreign residents and unallocated
U.S. Treasury securities
Bills and certificates
Bonds and notes marketable
Bonds and notes nonmarketable ^
U.S. liabilities reported by U.S. banks
Banks' liabilities for own account, payable in dollars 2
Demand deposits
Time deposits 2
Other
Banks' custody liabilities, payable in dollars 2 3

18,319

37,427

13,422

9,337

11,889

10,721
3,932
1,029
2,558
79

18,010
14,006
1,808
3,565
38

6,131
2,980
886
4,251
-826

3,323
7,445
-129
-527
-775

4,234
5,224
640
1,739
52

14,679
60
14, 619

- --

30,414
9,902
7,294
122
200
125
30,292
9,702
7.169
8,960
30, 194
7,160
30, 673
7,158
7,694
9,960
26,507
4,854
12, 436 -2,751 5,658
7,605
4,302
14,071
4,166
2,304 -2,266
2,027
904 -1,886
238
36
-222
1,901
1,364
-158
-479
1,802
-534
742
98
9

10,647
-19
10,666
10,459
10,282
7,527
5,262
2,265
2,755
1,794
120
841
177
207

1,583

7,406
3,047
4,886 -3,549
596
701
637
1,716
1,093
-332
13, 148
-675
16
(*)
13,148
-691
13,100
-525
12, 694
3
10,549 -1,529
6,601 -5,085
3,948
3,556
2,145
1,532
1,327
792
272
68
672
546
406
-528
48
-166

Amounts
outstanding
March 31,
1981

III

IV

I*

7,557

7,686

7,711

5,384

181,765

4,360
3,110
3,110

3,769
3,454
3,454

6,911
6,882
6,882

7,055
4,062
4,062

119,383
60,306
60,306

2,080
-830
-830

1,015
-700
-700

629
-600
-600

3,353
-360
-360

44,783
14,294
14,294

250
420

549
80

587
205

454
55

8,212
12,723

1,676
1,776
1,113
273
390
-100
851

1,823
2,048
-685
906
1,827
-225
1,465

-460 -3,009
-640 -1,625
-457
-433
36
-692
-219
-500
180 -1,384
469
829

27,373
16,202
3,339
2,920
9,943
11, 171
14,074

9,899 -5,769

662

8,630 -2,257

135,290

830
7,455 -3,028
1,787 -4,571 2,047
1,323 -1,703
49
824
132
151
457
-317
-644

874
2,490
3,717 —3,454
1,217
-585
3,144
-552
-322
-156

70, 182
26,328
7,146
24, 824
6,810

6,011 -1,295 -7,462

14,618

1981

II

By area: (see text table B)
By type:
U.S. Treasury securities (table 1, line 59).
23,555 -22,435
9,683 -8,832 -12,860
5,026 -5,769 -5, 357
19,783 -20,005
8,577 -7, 897 -13,470
Bills and certificates
4,537 -3, 175 -4, 869
Denominated in U.S. dollars
19,527 -19,749
8,577 -7,641 -13,470
4,537 -3, 175 -4, 869
-25,6
Denominated in foreign currencies
256
-256
1,696
Bonds and notes, marketable
3,728
3,840
390
-434
116
95
1,645
44 -4, 126 -2, 734 -1,030
Bonds and notes, nonmarketable. ..
_ 220 -1,156 -2, 160
-604
Denominated in U.S. dollars
1,308 -3,246 -2,734
-156
226 -1, 156 -2,160
-604
Denominated in foreign currencies
-1,264
-880
-874
-6
666
463
Other U S. Government securities (table 1, line 60)
2,187
94
-5
41
333
801
-133
Other U S Government liabilities (table 1 line 61)
2,359
636
-22
344
314
-768
-68
U.S. liabilities reported by U.S. banks, not included elsewhere
5,551
7,213
-159
172
-51 2,436
4,656 -3, 198
(table 1 line 62)
n.a.
6,127
-466 -1, 180
Banks' liabilities for own account payable in dollars 2
2,681
87
4,539 -3,650
-307
Demand deposits
1,281
-899
332
-526
-53
-870
1,528
540
490
562
-14
Time deposits 2
-273
802
-653
-25
/ 4,356
-129
2,363
Other
-629
413
2,209 -2, 127
23
|
5,318
I 1,086
Banks' custody liabilities, payable in dollars
307
452
1,129
-245
85
117
202
1,430
1,135
222
Other foreign official assets (table 1, line 63)
3,145
166
360
545

21
22
23
24
25
26
27
28
29
30

42

1978

7,361
253
7,108
6,591
6,115
5,083
4,773
310
1,032
112
-113
1,033
476
517

-5,526
996
-82
-232
-5,444
1,228
-5, 131
1,139
-5,459
1,138
-7,824
3,481
589
-8, 784
960
2,892
2,365 -2, 343
1,524 -1,931
-79
-67
920
-345
328
1
313
89

7,071
261
6,810
6, 361
5,364
4,114
671
3,443
1,250
1,199
295
-244
997
449

-3,826
204
-4,030
-4,239
-3,763
-1,915
-5
-1,910
-1,848
-1,594
622
-876
-476
209

96,302
826
95, 476
89,931
86,693
66, 755
22, 121
44, 634
19,938
12,595
2,324
5,019
3,238
5,545

79
-121
-505
384
200
n.a.
100
121

38
200
-99
299
-162
-203
-71
66
-198
41

-826
-688
153
-841
-138
-242
-113
-66
-63
104

-775
-514
10
-524
-261
-146
-54
4
-96
-115

52
1,093
-459
1,749
107
594
-566
1,155
511
-656
744 -1,010
-13
-103
6
-12
-895
751
-233
354

-332
-576
-810
234
244
209
99
68
42
35

457
-317
1,086 -1,110
55
949
1,031 -2,059
-629
793
-307
461
-100
-61
6
-66
516
-141
-322
332

-644
-491
-790
299
-153
-359
42
9
-410
206

-322
-173
-61
-112
-149
-37
6
-15
-28
-112

-156
411
79
332
-567
-154
-20
-18
-116
-413

6,810
5,253
333
4,920
1,557
324
126
67
131
1,233

3,561
2,239
46
598
1,595
1,322
n.a.
150
520

6,975
4,498
97
727
3,674
2,477
1,927
845
402
680
550

4,346
3,167
92
1,907
1,168
1,179
1,174
268
921
-15
5

2,818
2,953
14
384
2,555
-135
114
-34
182
-34
-249

1,190
349
217
132

377
-284
-247
-37

310
469
107
362

1,881
805
-219
1,024

1,725
790
133
657

661
67
-290
185
172
594

2,081
1,961
435
358
1,168
120
-12
132
68
-212
132

74
-68
-231
163

841
743
522
174
47
98

2,590
1,480
113
248
1,119
1,110
1,003
647
-139
495
107

142
495
606
-279
168
-353

-159
-292
-840
476
72
133

1,076
983
370
656
-43
93

935
1,041
-97
1,285
-147
-106

32, 178
11,803
607
5,619
»5,577
20,375
17,106
5,259
10,961
886
3,269

-239

-258

-621

621

536 -1,044

16

-944

9,801

} -2'l

} ««{

Memorandum :
Negotiable certificates of deposit held for foreigners 2

-23

-281

253

See footnotes on page 61.

Footnotes to U.S. International Transactions Tables l-10a
General notes for all tables: ^Preliminary. "Less than $500,000(±). n.a. Not available.
Table 1:
1. Credits, +: exports of goods and services; unilateral transfers to 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 16).
3. Excludes exports 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 balance of payments tasis; see table 3.
4. For all areas, amounts outstanding March 31,1981, were as follows in millions of dollars:
line 38, 30,410; line 39,11,154; line 40, 3,913; line 41, 8,448; line 42,11,895.
5. Includes sales of foreign obligations to foreigners.




6. Consists of bills, certificates, marketable bonds and notes, and nonmarketable convertible and nonconvertible bonds and notes.
7. Consists of U.S. Treasury and Export-Import Bank obligations, not included elsewhere,
and of debt securities of U.S. Government corporations and agencies.
8. Includes, primarily, U.S. Government liabilities associated with military sales contracts
and other transactions arranged with or through foreign official agencies; see table 4.
9. Consists of investment in U.S. corporate stocks and in debt securities of private corporations and State and local governments.
10. Beginning with estimates for the second quarter of 1978, the distinction between shortand long-term liabilities is discontinued.
11. Conceptually, the sum of lines 79 and 74 is equal to "net foreign investment" in the
National Income and Product Accounts (NIPA's). However, the foreign transactions account in the NIPA's (a) includes adjustments to the international transactions accounts for
the treatment of gold, (b) excludes capital gains and losses of foreign affiliates of U.S. parent
companies from the NIPA's measure of income receipts from direct investment abroad, and
from the corresponding income payments, and (c) beginning with 1973-IV, excludes shipments and financing of military orders placed by Israel under Public Law 93-199 and sub-

June 1981

SURVEY OF CUEEENT BUSINESS

sequent similar legislation. Line 77 differs from "net exports of goods and services" in the
NIPA's for the same reasons with the exception of the military financing, which is excluded,
and the additional exclusion of U.S. Government interest payments to foreigners. The latter
payments, for NIPA's purposes, are excluded from "net exports of goods and services" but
included with transfers in "net foreign investment." A reconciliation table of the international accounts and the NIPA's foreign transactions account appears in the Business Situation article in this issue of the SURVEY OF CURRENT BUSINESS.
12. Includes return import into the United States, at a depreciated value of $21 million in
1972-IV and $22 million in 1973-11, of aircraft originally reported in 1970-III in line 3 as a
long-term lease to Australia.
13. Includes extraordinary U.S. Government transactions with India. See "Special U.S.
Government Transactions," June 1974 SURVEY, p. 27.
14. Due to the introduction of new reporting forms for nonbank claims and liabilities, the
maturity breakdown is available only on the limited basis shown in table 7.
15. Due to the introduction of new reporting forms for bank-related transactions, the
maturity breakdown is available only on the limited basis shown in table 8.
16. Includes foreign currency denominated notes sold to private residents abroad. See
table 9, line 35, footnote 8.
Table 2:
For footnotes 1-16, see table 1.
17. Seasonally adjusted data for line 59 are not available separately; they are combined
with data in line 62 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, fob.
foreign country of exportation, and may differ frcm the actual f.a.s. transaction value at the
foreign port of exportation. The unadjusted figures for exports and imports shown in lines
Al, A10, Dl, and D56, are as published by the Census Bureau, as are the seasonally adjusted
figures in lines Al and A10; Census data are adjusted to include trade between the U.S.
Virgin Islands and foreign countries. The seasonally adjusted figures in lines Dl and D56
are prepared by BE A and represent the summation of seasonally adjusted 4-digit end-use
categories (see Technical Notes in the June 1980 SURVEY).
2. Beginning in 1970, adjustments in lines A5, A12, B9, B26, and B43 reflect the Census
Bureau's reconciliation of discrepancies in the merchandise trade statistics published by the
United States and the counterpart statistics published in Canada. These adjustments also
have been distributed to the affected end-use categories in section C.
3. Exports of military equipment under U.S. military agency sales contracts with foreign
governments (line A6), and direct imports by the Department of Defense and the Coast
Guard (line A13). to the extent such trade is identifiable from Customs 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 19 (direct defense expenditures).
4. Addition of electrical energy; deduction of exposed motion picture film for rental rather
than sale; deduction of exports to the Panama Canal Zone before October 1, 1979; 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, plus the difference between Census published seasonally adjusted
totals and the summation of seasonally adjusted 4-digit end-use categories.
6. Addition of electrical energy; deduction of foreign charges for repair of U.S. vessels
abroad, which are included in tables 1, 2, and 10, line 22 (other transportation); deduction of
imports from Panama Canal Zone before October 1, 1979; 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 18, except that imports from international organizations,
namely, purchases of nonmonetary gold from the IMF, are included in data for other countries
in Asia and Africa. The memorandum items are defined as follows: Industrial countries:
Western Europe, Canada, Japan, and Australia, New Zealand, and South Africa: members of
OPEC; Venezuela. Ecuador, Iraq, Iran, Kuwait, Saudi Arabia, Qatar, United Arab Emirates,
Indonesia, Algeria, Libya, Nigeria, Gabon: Other countries: Latin American Republics
Other Western Hemisphere, and Other countries in Asia and Africa, less OPEC and the
IMF. Prior to 1973, "Western Europe excluding EC(9)" includes Denmark and Ireland.
Beginning in 1981, EC (9) becomes EC (10), including Greece.
8. The statistical Identification of automotive products exports to Canada (line D43) is
not as complete and comprehensive as the identification of imports under the U.S.-Canada
Automotive Products Trade Act. However, the underestimation of automotive shipments to
Canada due to unidentified auto parts and unreported exports, amounting to about $2,034
million in 1979, and $1,562 million in 1980, has been largely corrected in line C19.
9. Includes nuclear fuel materials and fuels.
10. Prior to 1973, line D55 includes reexports, and line D63 includes imports of natural
gas in transit through the United States from Western to Eastern Canada.
Table 4:
1. Expenditures to release Israel from its contractual liability to pay for defense articles
and services purchased through military sales contracts—authorized under Public Law
93-199 and subsequent similar legislation—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 A33 and A41 to reduce short-term assets previously recorded in lines A36 and C8; this application of funds is excluded from lines C3 and
C4. 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 and other countries from commercial suppliers, is included in
line A32.
2. Transactions under military sales contracts are those in which the Department of Defense
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 of the Department of Defense (on military sales contracts)
financed by loans extended to foreigners by U.S. Government agencies and (b) the counter
value 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.




61

Table 5:
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 petroleum 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 31.
3. 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).
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, line 60
and 63.
Table 7:
1. Because of changes in U.S. Treasury reporting forms, there is discontinuity in the data
series beginning with amounts outstanding at the end of December 1978. Details on the old
basis are available in the June 1979 SURVEY.
2. Beginning with the first quarter of 1979, long-term is defined as more than one year remaining to contractual maturity.
3. Consists of Western Europe, Canada, Japan Austriala, New Zealand, and South Africa.
4. Mainly in the Bahamas and Cayman islands.
5. Based on data for Ecuador, Venezuela, Indonesia, and other Asian and African oil-exporting countries.
TableS:
1. Because of changes in U.S. Treasury reporting forms, there is discontinuity in the data
series for components of claims on foreigners reported by U.S. banks beginning with amounts
outstanding at the end of April 1978. Only partial data are available for the second quarter of
1978 on the new basis; data on the old basis are available in the June and September 1978
SURVEY.
2. Consists of Western Europe, Canada, Japan, Australia, New Zealand, and South Africa.
3. Mainly in the Bahamas and Cayman Islands.
4. Based rn data for Ecuador, Venezuela, Indonesia, and other Asian and African oil-exporting countries.
5. Includes central governments (central banks, departments, and agencies), state, provincial and local governments, and international and regional organizations.
Table 9:
1. Because of changes in U.S. Treasury reporting forms, there is discontinuity in the data
series for some components of liabilities reported by U.S. banks beginning with amounts
outstanding at the end of April 1978. Data on the old basis are available in the June and
September 1978 SURVEY.
2. Negotiable certificates of deposit issued to foreigners by U.S. banks are included with
U.S. banks' custody liabilities, and are shown in the memorandum.
3. Mainly negotiable and readily transferable instruments; excludes U.S. Treasury securities.
4. Consists of Western Europe, Canada, Japan, Australia, New Zealand, and South Africa.
5. Mainly in the Bahamas and Cayman Islands.
6. Based on data for Ecuador, Venezuela, Indonesia, and other Asian and African oil-exporting countries.
7. Mainly the International Bank for Reconstruction and Development (IBRD), International Development Association (IDA), International Finance Corporation (IFC), Asian
Developing Bank (ADB), Inter-American Development Bank (IDB), and the Trust Fund
of the International Monetary Fund.
8. Consists of U.S. Treasury notes denominated in foreign currencies, sold through foreign
central banks to domestic residents in country of issue; notes are subject to restricted transferability.
9. Valuation of foreign currency indebtedness based on market exchange rates at end of
month.
Table 10:
For footnotes 1-9, see table 1.
10. See footnote 11 to table 1.
11. The "European Communities (9)" includes the "European Communities (6)," the
United Kingdom, Denmark and Ireland. "European Communities (10)" reflects the admission of Greece in 1981.
12. The "European Communities (6)" includes Belgium, France, Germany, Italy, Luxembourg, the Netherlands, the European Atomic Energy Community, the European Coal and
Steel Community, and the European Investment Bank.
13. Includes transactions with U.S. affiliated shipping companies operating under the
flags of Honduras, Liberia, and Panama, and U.S. affiliated multinational trading companies
finance, and insurance companies, not designated by country.
14. See footnote 14 to table 1.
15. See footnote 15 to table 1.
16. Details not shown separately; see totals in lines 57 and 64.
17. Details not shown separately are included in combined lines 72 and 73.
Table lOa:
For footnotes 1-9, see table 1.
10. See footnote 11 to table 1.
11. Details not shown separately are included in combined lines 72 and 73.
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 transhipped 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.

SURVEY OF CURRENT BUSINESS

62

June 1981
Table 10.—U.S. International
[Millions

Western Europe

(Credits +; debits -)i

Line

1978
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15

Export of goods and services2
-- - - - -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 on U.S. assets abroad:
Direct investment
Interest, dividends, and earnings of unincorporated affiliates
Reinvested earnings of incorporated affiliates
Other private receipts
U S. Government receipts
_

1979

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

17
18
19
20
21
22
23
24
25
26
27
28
29
30
31

_ .

Payments of income on foreign assets in the United States:
Direct investment
.
Interest, dividends, and earnings of unincorporated affiliates .
Reinvested earnings of incorporated affiliates
Other private payments
U.S. Government payments
.

1980

1978

1979

1980

63,387
39,546
1,109
1,323
628
2,872
2,561
423
770
205

89,240
54, 177
1,387
1,667
834
3,154
2,646
443
869
168

107,312
67,603
2,521
1,942
1,034
3,749
3,083
468
1,160
88

49,951
31,778
510
1,010
495
1,976
2,261
350
561
114

70,297
42,474
837
1,273
661
2,210
2,376
364
645
104

84,780
53,466
1,788
1,606
823
2,684
2,687
386
855
66

10,350
4,776
5,574
3,173
427

17,116
6,489
10,627
6,215
575

16,078
8,257
7,821
8,958
629

8,288
3,678
4,611
2,459
148

14,054
5,223
8,831
5,072
227

12,920
6,826
6,094
7,396
202

48

43

103

-2

-1

-1

-61,678
-36, 618
-3,801
-2,600
-2,208
-2,768
-309
-182
-874
-355

-74,884
-41,826
-4, 611
-2,842
-2, 414
-3, 193
-407
-197
-927
-445

-86,955
-47,255
-6,408
-3,021
-2,682
-3,383
-599
-207
-1,026
-471

-48,262
-29,058
-3,307
-1,820
-1,623
-1,919
-193
-166
-701
-196

-58,658
-33,222
-3,881
-2,054
-1,779
-2,224
-283
-172
-781
-258

-66,630
-36,097
-4,525
-2,259
-1,990
-2,407
-451
-176
-866
-282

-3,038
-1,172
-1,867
-4,221
-4,704

-4,379
-1,658
-2, 721
-7,041
-6,603

-5, 622
-2,223
-3,400
-9,483
-6,799

-2,760
-919
-1,841
-2,643
-3,876

-3,908
-1,341
-2,567
-4,867
-5,229

-5,249
-1,876
-3, 373
-6,614
-5,715

Transfers of goods and services under U.S. military grant programs, net.

16

European Communities (9)"

32

U S military grants of goods and services, net...

-48

-43

2

1

1

33

Unilateral transfers (excluding military grants of goods and services), net

-82

-53

-96

362

457

572

-149
-480
547

—169
-532
648

-281
-560
745

-9
-332
703

-16
-375
847

-7
-386
964

-24,409

-25,762

-28,049

-19,178

-20,899

-22,803

-3,046

496

-6,139

-2, 767

1,889

-5,160

U S. Government grants (excluding military grants of goods and services)
U.S. Government pensions and other transfers
Private remittances and other transfers

34
35
36

U S assets abroad, net (increase/capital outflow (—))...

37

-103

38
39
40
41
42

U.S. official reserve assets, net 4
Gold
Special drawing rights
Reserve position in the International Monetary Fund
Foreign currencies

-3,046

496

-6, 139

-2,767

1,889

-5,160

43
44
45
46

U S Government assets, other than official reserve assets, net
U S. loans and other long-term
assets
Repayments on U.S. loans 8
U S foreign currency holdings and U.S. short-term assets, net

-683
-1,374
746
-55

-121
-1,110
965
24

-665
-1,752
1,102
-15

250
-9
312
-53

310
-43
333
19

-318
-676
332
27

47
48
49
50
51

U S private assets n e t . . _
. _ _..
Direct investment
_ _ .
..
Equity and intercompany accounts
__ _
Reinvested earnings of incorporated affiliates
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 eslewhere:
Long-term
_Short-term

-20,680
-7,820
-2, 246
-5,574
-496

-26, 138
-11,852
-1,225
-10,627
-2,643

-21,245
-12,784
-4,962
-7, 821
-1, 228

-16,661
-6,563
-1,952
-4, 611
21

-23,098
-9,544
-713
-8,831
-2,038

-17,325
-10,609
-4, 515
-6,094
-1,002

"-1,597

" -323

i»-5,391

52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73

-218 }
-1, 275

} i»-10,872

Foreign assets in the United States, net (increase/capital inflow (+))
Foreign official assets in the United States, net
U S. Government securities
U.S. Treasury securities *. _
Other 7
. _ _|
Other U.S. Government liabilities 8 _
U.S. liabilities reported by U.S. banks, not included elsewhere
_
_ __
}
Other foreign official assets '
Other foreign assets in the United States, net
Direct investment _ _ _ _ _ _ _ _
Equity and intercompany accounts
Reinvested earnings of incorporated affiliates
U S. Treasury securities
U.S. securities other than U.S. Treasury securities
U.S. liabilities to unaffiliated foreigners reported by U.S. nonbanking concerns:
Long-term
_
Short-term
U.S. liabilities reported by U.S. banks, not included elsewhere:
Long-term
}
Short-term

74
75

Allocations of special drawing rights
Statistical discrepancy (sum of above items with sign reversed)

76
77
78
79

Memoranda:
Balance on merchandise trade (lines 2 and 18)
Balance on goods and services (lines 1 snd 17) i"
Balance on goods services and remittances (lines
77 35 and 36)
Balance on current account (lines 77 and 33^ 10

See footnotes on page 61.




_ _ _

--

-

" -1,800
i«-9,843

f
" -476 \

i»-6,758

u -8, 647

i«-9,919

26,932

21,274

37,849

19,385

9,904

23,390

-7,756

-4,400

(16)

(16)

(10)

686
(1(0
14, 459
5,217
3,351
1,867

(15)

1,066
-75 }
727
O6)

255
(")
27, 140
8,159
5,438
2,721
(16)
325

"1,231
(16)

-177
-1,295 }

1

O7)

1

O7)

14,304
5,999
2,599
3,400

(16)

3,916
" 2, 262 {
I
(16)

O7)

(")
434

-357
(16)

O)

1,854
-5
811 }

-488

25
(17)

4,702
2,861
1,841
7

6,791

7,249
4,682
2,567
17
( )
909

(17)

C")

5,427
2,054
3,373
3,542

" 1, 239

"1,750

17 19, 135

1711,853

17 -3, 440

-15,067

-7,925

-2, 116

-9,805

-12,470

-2,711

2,928
1,709
1,776
1,627

12,351
14,356
14, 472
14, 303

20, 348
20,357
20, 543
20, 261

2,720
1,689
2,060
2,051

9,252
11,639
12, 111
12,095

17, 369
18,150
18, 729
18, 722

SUEVEY OF CUBKENT BUSINESS

June 1981

63

Transactions, by Area
of dollars]
European Communities (6)12

United Kingdom
1978

1979

1980

1980

1979

1978

Eastern Europe
1978

13,257
7,277
185
308
194
653
667
94
201
39

22,321
10,686
182
375
248
702
749
98
214
56

26,447
12, 818
306
469
315
847
765
106
341
43

34,716
23, 378
309
661
279
1,100
1,515
250
338
64

45,403
30, 363
625
849
377
1,242
1,527
260
404
40

55,272
38,955
1,217
980
465
1,561
1,786
269
480
21

2,174
1,036
1,138
1,378
88

5,765
1,923
3,842
3,163
85

5,495
3,043
2,452
4,852
90

5,713
2,603
3,110
1,054
55

7,709
3,169
4,539
1,871
136

6,931
3,712
3,219
2,500
107

(*)

(*)

-1

-1

-15,943
-8,009
-507
-826
-703
-812
-102
-90
-391
-50

(*)
-20,334
-9, 848
-687
-903
-824
-839
-104
-82
-476
-46

-1

-12,479
-6, 475
-434
-771
-629
-665
-68
-91
-387
-25

-34,047
-21, 574
-2, 813
-869
-892
-1,016
-117
-73
-298
-164

-40,871
-24, 187
-3, 317
-1,059
-959
-1, 144
-164
-80
-374
-201

-44,419
-25, 112
-3, 784
-1,204
-1,040
-1, 292
-323
-92
-376
-228

-813
-292
-521
-1,380
-742

-845
-478
-366
-2,827
-782

-1,291
-590
-701
-4,154
-1,081

-1,939
-625
-1,315
-1,239
-3,055

-3, 054
-860
-2, 194
-1,978
-4,353

-3, 951
-1, 281
-2, 670
-2, 418
-4,599

(*)

(*)
115

121

31
85
9

19
80
3

544
811
47
533
23

637
886
38
537
13

685
931
53
590
19

3,516
1,695
1,821
3,130
17

5,517
2,514
3,003
4,179
16

5,733
2,243
3,490
4,715
19

11
12
13
14
15

-37,336
-33, 552
-179
-1,407

-43,766
-39, 020
-143
-1,599

-49, 179
-42, 434
-137
-1,817

-474
-132
-10
-373
-30

-557
-163
-13
-401
-35

-636
-225
-15
-418
-64

17
18
19
20
21
22
23
24
25
26

-354
-123
-231
-685
-140

-599
-200
-399
-1,042
-194

-1,795
-228
-1,567
-1,439
-198

27
28
29
30
31

117
75

212
113

338
145

-1,760
-1,508
-3
-94
-17
-69

-2,130
-1,896
-2
-71
-20
-76
_i
-20
-21

-1,659
-1,444
-2
-58
-22
-77

16

-1
-29
-24

-15
(*)

-2
-6
-26

-21

-23
(*)

(*)

-149

-201

33

-16
-292
594

-7
-294
629

-20
-55

-17
-73

-21
-66

-148
21

-166
18

-195
-6

34
35
36

-510

-763

109

-8,597

-6,954

-7,072

37

C)

(*)

38
39
40
41
42

-14,694

1,889

-5,160

32

-2, 767

1,889

-5,160

-178
-337
159

98
-5
148
-44

155
-2
161
-4

-130
-398
147
22

-419
-617
174
24

-197
-569
345
27

286
-188
457
17

9
-12
20

7
-19
28
-3

-91
-143
47
4

43
44
45
46

-7,292
-4,581
-2, 129
-2, 452
-76

-8, 075
-3, 475
-364
-3, 110
-56

-6,542
-4,964
-425
-4,539
-1,220

-9,405
-5, 443
-2, 224
-3, 219
-912

-91

-566

-177

-8,606
-1,206
615
-1,821
-3,158

-6, 961
-4,038
-1,036
-3,003
-2, 447

-6, 981
-3,860
-370
-3,490
-2,093

47
48
49
50
51

" -462

" -513 1(

(*)

14177 !
(

i« -1, 119

15,608

157

34
64
10

-127

-4,498

799

130

1
2
3
4
5
6
7
8
9
10

-86

-2, 767

i«-10,093

56,642
41,389
80
2,428

-90

-10,743

i« -4, 614

52,702
38,690
97
2,092

-75

-7,470

-187
-696 [

42, 166
31,229
68
2,248

1

-15,773

(
I

4,849
4,143

328

-7,880

-15, 928
-3, 911
-69
-3,842
-805

6,520
5,913

1

-61
355

-8, 010
-2,596
-1,458
-1,138
83

4,322
3,893

286

-55
270

142
-12

u-2,812

5,797

9
-605 [

(*)

(*)
1
30 }

i« -3, 948

i«103

» -2, 537

n -122

i« -538

» -253

25,095

6,221

1,744

177

-36

64

(17)

63

(17)

1,320
799
521
1,593
-47
453 ;

[

78

(17)

(17)

(17)

(17)

(17)

-29

1,129
1* 511

O7)

1,551
850
701

2,999

"1.319 ([

(17)

257
46
355 [

-343

-155
O7)

3,371
2,057
1,315

O7)

(17)

(17)

296
(17)

(17)

2,143
1,777
366

(17)

-236
"730

O7)

(*)

"46 1(

52
53

u -3, 614

15 _4()7

i« -1,074 1(

54
55

3,040

2,195

6,571

56

126

-594

-298

909

57
(58
{59
(60
61
(62
163
64
65
66
67
68
69

"232

(70
171

-49
-578 }

3,846
1,176
2,670
542

"437 ((

00

(17)

1

,
-1 f
85

12

(17)

(17)

(17)
(*)

(17)

1
1

0«)
2,914
680
449
231

(16)

178

" -13

14-32 (I

"-2, 583

17 11, 747

"-43

"20,770

"801

17 -2, 738

"92

17 —22

"96

6,189

-6,428

-4,732

-15,306

-6,540

1,768

-2,155

-3,501

-3,276

802
778
893
893

2,677
6,378
6,593
6,593

2,970
6,113
6,406
6,406

1,804
668
963
954

6,176
4,532
4,833
4,818

13,843
10,853
11,188
11, 181

2,385
2,563
2,488
2,488

4,017
4,390
4,300
4,300

2,699
3,190
3,103
3,103




(16)

(16)

(")

(*)

(17)

(17)

5,081
2,887
2,194

(17)

(*)

H-68

i<76 1f

i< -28

f

(17)

Line
1980

1979

1

-51
166

155
-24
147
32

1978

286
-9
-255
550

129

1980

293

(*)
215

1979

Canada

38

-6
(15)

2,788
931
532
399
(16)
641

-2 [
154

14396

(16)

(16)

6,869
2,600
1,032
1,567

(72
173

(16)

(16)

853

-4,029

-6,762

74
75

-2,323
4,831
4,704
4,704

-330
8,936
8,788
8,788

-1,045
7,463
7,262
7,262

76
77
78
79

('•)

SUEVEY OF CURKENT BUSINESS

64

June 1981
Table 10.—U.S. International
[Millions

Latin American Republics and Other
Western Hemisphere

(Credits +; debits-) 1

Line

1978
Exports of goods and services2

1

2

4
5
7
8
9
10
11
12
13
14
15

38,055

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 on U.S. assets abroad:
Direct investment
Interest, dividends, and earnings of unincorporated affiliates
Reinvested earnings of incorporated affiliates
Other private receipts
U.S. Government receipts
-

22,033
58
2,441
312

17
18
19
20
21
22
23
24
25
26

Imports of goods and services
Merchandise, adjusted, excluding military3
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...

68,553
38,811

-

-

-

-

Payments of income of foreign assets in the United States:
Direct investment
Interest, dividends, and earnings of unincorporated affiliates
Reinvested earnings of incorporated affiliates
Other private payments
U.S. Government payments
U.S. Military grants of goods and services, net

33

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. Government assets, other than official reserve assets, net
U.S. loans and other long-term assets
Repayments on U.S. loans •
U.S. foreign currency holdings and U.S. short-term assets, net
U.S. private assets, net
__
Direct investment
Equity and intercompany accounts
Reinvested earnings of incorporated affiliates
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
Foreign assets in the United States, net (increase/capital inflow (+))

Foreign official assets in the United States, net
U.S. Government securities6
_
U.S. Treasury securities
Other 7
Other U.S. Government liabilities «
U.S. liabilities reported by 9U.S. banks, not included elsewhere
Other foreign official assets
Other foreign assets in the United States, net
Direct investment
_
Equity and intercompany accounts
_
Reinvested earnings of incorporated affiliates
U.S. Treasury securities
U.S. securities other than U.S. Treasury securities.
U.S. liabilities to unaffiliated foreigners reported by U.S. nonbanking concerns:
Long-term
Short-term
U.S. liabilities reported by U.S. banks, not included elsewhere:
Long-term
Short-term
_

Memoranda:

Balance on merchandise trade (lines 2 and 18)
Balance on goods and services (lines 1 and 17)10
Balance on goods, services, and remittances (lines 77, 35, and 36).
Balance on current account (lines 77 and 33)10
_

See footnotes on page 61.




23,993
17,629
42
699
404
1,273
397
334
160
26
449
377
2,091
112

753
78

74

4,779
2,861
1,918

6,546
3,623
2,924
9,716

6,850
3,504
3,347
14,537

1,199
506
693
1,204
43

-42,743
-30,535

-52,992
-37,521
-391
-4,090
-310
-1,063
-23

-29,912
-24,541
-976
-155
-118
-1,596

-9

-1,379
-276

-14
-92
-43

-32,607
-26,261
-936
-142
-105
-1,808
75
-15
-113
-40

-1,004
-440
-564
-6,646
-209

-301
-84
-217
-423
-1,720

-570
-107
-462
-691
-2,003

—31,537
—23,041
—240
-3,317
—221
-776
—16
-5

-1

-407
—153
—254
—2,064
—103

—

-296
-3,767
-272
-883
-14
-6
-1,089
-354
-644
-282
-362
-4, 787

69

-14

-6

-7

-826

-1,032

-1,180

-72

-70

-257
—145
—424

-343
-170
-520

-358
-214
-609

-21
-51

(*)
-10
-60

-16,594

-14,630

-31,905

U.S. Official reserve assets, net 4
Gold
Special drawing rights
Reserve position in the International Monetary Fund.
Foreign currencies

Allocations of special drawing rights
Statistical discrepancy (sum of above items with sign reversed)

18,193
12,960
54
539
290
928
436
344
130

14

-

32

37

51,302
28,555
72
3,037
407
1,181
422

1979

1978

313

Transfers of goods and services under U.S. military grant programs, net

34
35
36

1980

79
3,948
501
1,467
591
101
1,241
61

372

16

27
28
29
30
31

1979

Japan

1

(*)

-6,111

-5,371

-1,637

-239

-1,637

-239

-435
-1,045

614
-5

-317
-1,183
864
2

-499
-1,638
1,136
2

-26
-100
54
21

-16,159
-4,014
-2,096
-1,918
191

-14,313
-3,194
-270
-2,924
279

-31,405
-2,655
691
-3,347
37

-4,448
-725
-32
-693
161

" -2,090

-1,541

66
-25
94

-5,198
-801
-423
-377
-109

-171

w -3,713

w -4,253

8,226

13,759

-12,067

(17)

(17)

(17)

<")

16

-7

-23

1,080

252

(17)

(17)

713
459
254

1,838
1,476
362

987
770
217

(17)

(17)

1,226
662
564

361

86

330

205

744
282
462
C17)
214

-58
322

"449

"1,507

-44
203

"49

"7,712

"18,063

" 5, 186

"11,328

"-13,326

1,836

-13,325

9,227

4,142

26,121

-1,008
6,518
5,949
5,692

-1,980
8,558
7,869
7,526

1,290
15,631
14,809
14,451

-11,581
-11,719
-11,791
-11,791

-8,632
-8,614
-8,683

i« _ 10,964

s -10,559

9,066

20,429

(17)

(17)

SUKVEY OF CURRENT BUSINESS

June 1981

65

Transactions by Area—Continued
of dollars]
Australia, New Zealand, and South Africa

1979

1978

International organizations
and unallocated 13

Other countries in Asia and Africa

1980

1979

1978

1980

1979

1978

Line

1980

6,897
4,213
206
195
136

8,527
5,434
88
258
168

11,045
7,117
162
300
202

45,867
28,180
6,587
440
237

54,238
34,075
4,922
582
343

64,630
44,097
5,260
698
405

2,135

2,402

8

1

204
247
45
132
3

265
253
48
125
4

333
322
63
218
2

1,548
504
65
1,299
165

1,888
587
88
1,003
179

2,121
644
112
1,176
183

1,140
-225

1,344
-210

1,443
-28

448
69

541
58

58(

1,165
705
460
332
19

1,482
810
672
383
19

1,901
976
925
407
18

4,296
3,483
813
1,710
837

6,581
5,356
1,226
2,869
1,122

4,861
3,822
1,040
3,732
1,342

153
88
65
429
112

261
125
136
409
-2

548
41
130
38
-11

174

256

527

-5, 076
-4, 440
-29
-150
-127
-146
-3
-1
-30
-37

-6,2%
-5,493
-39
-183
-144
-216
-2
—1
-42
-41

-7,558
-6,533
-47
-245
-171
-264
-3
-1
-51
-40

-58, 912
-51,361
-2, 124
-752
-153
-984
-2
-1
-160
-355

-74,836
-65,602
-2,530
-809
-173
-1,250
-11
—1
-228
-397

-93,225
-81,617
-2,794
-981
-221
-1,369
178
-2
-227
-447

-22
-20
-2
-50
-42

-35
-33
-3
-60
-41

-52
-44
-8
-78
-72

-88
-76
-13
-1,397
-1,535

-130
-121
-9
-2,039
-1,667

-138
-123
-15
-2,803
-2,806

-174

-256

-527

-56

-3,486

-3,813

-11
-45

-2,421
-262
-803

-1.425

-9,229

-36

-42

-10
-26

-10
-32

-903

-130

(*)

2,564

-3,821
-752

-4,655
-1, 186

-4,63
-1,28

-52
-2,098

-56
-2, 432

-5
-2,17

-1
-362

-1
-385

-40J

-346

-2,686
-274
-852

-3,297
-293
-1,039

-356

-338

-7

-8

-17

-7,980

-7.936

5,282

-1,049

-1,258

5,415
-65
1,249
4,231

-1,390
-65
-1, 136
-189

-1,683
-16
-1,667

38
39
40
41
42
43
44
4o
46

-740
-724

-2,965
-4, 476
1,548
-38

-3,747
-5,474
1,462
265

-483
-488
5

-278
-283
5

-509
-514
5

-938
-804
-344
-460
-174

-168
-711
-39
-672
21

-1,435
-869
56
-925
19

-6,588
-1,574
-761
-813
-385

-5,015
-3, 701
-2, 475
-1,226
-97

-4, 189
1,723
2,763
-1,040
9

350
86
151
-65
279

620
348
484
-136
251

935
-77
52
-130
1,000

-13

"-65

" -110

44
-252

"-190

" -269

»53

W587

15 -475

15-4,421

15-1,221

15-5,652

15-14

1621

-62

204

843

286

8,875

18,969

-368

-39

(17)

(17)

(17)

(17)

86

200

194

478

-828

(")

(17)

(17)

O7)

O7)

(17)

47
38
8

222
209
13

133
124
9

256
242
15
(17)

(17)

(17)

43

175

151

323

268

-93

(17)

(17)

559

::::
:

"

-368

-39

(17)
11

-3
25

"78

"113

-7
391

" -125

"950

» 7 -251

"-156

"446

17 -972

"9,544

"16,881

17-635

1754

-820

-2,264

-2,849

25,473

23,516

22, 190

-2,865

1,139
2,548

1,152
3,898

-227
1,821
1,785
1,785

-59
2,231
2,189
2,189

584
3,488
3,431
3,432

-23, 181
-13,044
-14,109
-16,530

-31,527
-20, 598
-21,724
-24,410

-37, 520
-28, 595
-29, 927
-33, 224

-752
-1,687
-1,694
-2,049

-1, 186
-2,253
-2,260
-2,598

-1,287
-2,074
-2,090
-2, 814




(17)

(_
{„/:
:~~~

32
33
34
35
36
37

47
48
49
50
51

f
52
"-1 1 53
f
54
"13 I 55
56
-978
57
58
59
60
61
62
63
64
65
-978
66
67
68
(17)
69
-55
70
71

"l

(17)

27
28
29
30
31

-363

-2, 641
-3,823
1,281
-98

(17)

17
18
19
20
21
22
23
24
25
26

-4,629

-119
-583

10
-26
30
5

(

16

-121
-473

38
-11
43
6

72
69
3

11
12
13
14
15

-127
-429

35
-11
48
-2

78
76
2

1
2
3
4
5
6
7
8
9
10

17-923

72
73
74
75
76
77
78
79

SUEVEY OF CUKBENT BUSINESS

66

June 1981
Table 10.—U.S. International
[Millions
European Communities (9) »

Western Europe
Line

1980

(Credits +; debits -) »

2
_
1 Exports of goods and services _
Merchandise, adjusted, excluding military 3
2
Transfers under U,S. rnilitary agency sales contracts
3
Travel
4
Passenger fares
5
Other transportation
6
Fees and royalties from affiliated foreigners. .. ._
7
Fees and royalties from unaffiliated foreigners
8
Other private services
9
U.S. Government miscellaneous sendees
10
Receipts of income on U.S. assets abroad:
Direct investment
11
12
Interest, dividends, and earnings of unincorporated affiliates
13
Reinvested earnings of incorporated affiliates.
14
Other private receipts
_
15
U.S. Government receipts

_ __

__

16 Transfers of goods and services under U.S. military grant programs, net
17 Imports of goods and services
Merchandise, adjusted, excluding military 3
18
19
Direct defense expenditures
Travel.
20
21
Passenger fares
.
23
Other transportation
23
Fees and royalties to affiliated foreigners
24
Fees and royalties to unaffiliated foreigners
25
Private payments for other services
26
U.S. Government payments for miscellaneous services
27
28
29
30
31
32
33
34
35
36
37

_

Payments of income on foreign assets in the United States:
Direct investment
Interest, dividends, and earnings of unincorporated affiliates
Reinvested earnings of incorporated affiliates
Other private payments
U.S. Government payments
U.S. military grants of goods and services, net..
Unilateral transfers (excluding military grants of goods and services), net

76
77
78
79

Memoranda:
Balance on merchandise trade (lines 2 and 18)10
Balance on goods and services (lines 1 and 17)
Balance on goods, services, and remittances (lines
77, 35, and 36)
Balance on current account (lines 77 and 33)10_ .
See footnotes on page 61.




II

III

IV

29,202
18, 261
586
306
171
889
751
115
263
23

27,429
17,868
588
541
272
1,003
715
116
283
17

24,570
15,100
767
661
393
943
778
118
301
28

26,111
16,374
579
434
198
914
840
119
314
20

26,620
17, 121
504
355
208
981
733
120
325
23

23,177
14,266
471
232
140
636
672
94
191
17

21,681
14,291
401
428
218
725
618
96
207
13

19,517
12,071
509
524
314
677
667
97
222
20

20,406
12,838
408
322
152
646
730
99
236
17

21,224
13, 732
363
271
173
721
639
100
252
19

5,553
2,108
3,444
2,144
140

3,597
2,201
1,396
2,299
129

3,277
1,687
1,591
2,073
133

3,652
2,261
1,391
2,442
227

3,079
1,365
1,714
2,857
313

4,656
1,741
2, 915
1,773
29

2,741
1,817
924
1,904
40

2,662
1,455
1,207
1,725
30

2,861
1,813
1,049
1,995
103

2,375
1,001
1,374
2,358
223

14

37

14

38

25

-1

8

-1,323
-431
-892
-2,504
-1,802

-1,430
-760
-670
-2,348
-1,622

-1,345
-512
-833
-1,918
-1,597

-1,524
-520
-1,005
-2,713
-1,778

-1,326
-548
-778
-2,897
-1,985

-14

-37

-14

-38

-25

31

-1

59

-185

49

-1,229
-408
-821
-1,307
-1,377

-1,459
-446
-1,013
-1,866
-1,506

-1, 175
-461
-714
-2,000
-1,652

1

-8

146

141

165

120

125

(*)
-96
262

(*)
-97
218

-104
228

-60 -11,224

-7,325

-1,185
-363
—823
-1,777
-1,480

-1,376
-660
-716
-1,664
-1,352
1

(*)

-13,413

-8,440

-3,525

-7,994

550

-517

-4,291

-2,384

-1,651

269

-117

-3,661

-2,179

-1,880

550

-517

-4,291

-2,384

-1,651

269

-117

-3,661

-2, 179

-110
-361
211
40

-177
-438
283
-22

-150
-332
215
-33

-229
-621
393
(*)

-45
-331
232
54

-26
-108
41
41

-157
-225
81
-14

-73
-115
42

-62
-229
167

22
-120
107
34

-2,684
-3,605
-161
-3, 444
-116

-9,723
-2,077
-681
-1,396
-787

55
-1,857
-266
-1,591
-261

-8,893
-5,245
-3, 854
-1,391
-64

-6,011
-5
1,709
-1,714
-179

-1,848
-2,996
-81
-2,915
-107

-8,106
-1,498
-574
-924
-568

131
-1,640
-433
-1,207
-240

-7,501
-4,475
-3,427
-1,049
-87

-5, 167
492
1,866
-1,374
-222

| "454

14-62

"152 "-1,054

n.a.

[

-59
-137
195

—14
-138
183

-4,674

-9,351

-1,880

"584 "-6,797
-977

_

(*)

IP

-612

. ...

Foreign official assets in the United States, net .
U.S. Government securities6
U.S. Treasury securities
.
.
.
Other 7 .
Other U.S. Government liabilities 8
U.S. liabilities reported by U.S. banks, not included elsewhereOther foreign official assets9..
Other foreignassets in the United States, net
Direct investment
Equity and intercompany accounts
Reinvested earnings of incorporated affiliates
U.S. Treasury securities
.
U.S. securities other than U.S. Treasury securities
U.S. liabilities to unaffiliated foreigners reported by U.S. nonbanking concerns:
Long-term
...
Short-term
. . .
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)

I

-5
-96
246

Foreign assets in the United States net (increase/capital inflow (+))

74
75

IP

-4
-154
207

4

U.S. private assets, net
Direct investment...
.
Equity and intercompany accounts
Reinvested earnings of incorporated affiliates
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
...

72
73

IV

-204
-143
161

U.S. assets abroad, net (increase/capital outflow (— ))

47
48
49
50
51

70
71

III

-1
-97
238

U.S. Government grants (excluding military grants of goods and services)
U.S. Government pensions and other transfers
Private remittances and other transfers

U.S. Government assets other than official reserve assets net
U.S. loans and other long-term assets
Repayments on U.S. loans 6
U.S. foreign currency holdings and U S short-term assets net

57
58
59
60
61
62
63
64
65
66
67
68
69

II

-1

43
44
45
46

56

1981

-21,814 -22,011 -21,497 -21,632 -22,902 -16,488 -17,119 -16,432 -16,592 -17,791
-12, 331 -11,898 -11,654 -11,372 -12, 550 -9,346 -9,207 -8,801 -8, 743 -9,556
-1,604 -1, 461 -1, 573 -1,771 -1,496 -1,089 -1,071 -1,193 -1, 172 -1,379
-411
-311
-875
-733
-1,196
-539
-400
-358
-928
-240
-395
-580
-551
-653
-777
-508
-518
-744
-362
-879
-605
-617
-605
-837
-841
-849
-609
-856
-840
-589
-185
-125
-165
-116
-114
-145
-135
-155
-215
-97
-45
-45
—44
-53
-44
-51
-52
-54
-51
-43
-256
-236
-188
-226
-256
-228
-293
-266
-276
-217
-64
-72
-79
-124
-106
-123
-103
-68
-118
-63

U.S. official reserve assets net
Gold
Special drawing rights
Reserve position in the International Monetary Fund
Foreign currencies

54
55

1980

1981

I

. .

38
39
40
41
42

52
53

EC (10) "

-8, 582
[ (16)
-95

-4
-143
206

"277 " -1, 145

n.a.

"1,895 "-2,440 "-5,827

664

542

9,675

4,290

-1,947

1,378

4,751

-1,534

(16)

(16)

(16)

126

75

-153

-235
(16)

(16)

(16)

2,611
2,871
2,201
670

-836
949
116
833

4,924
733
-272
1,005

5,824
1,227
448
778

600

149

. 1, 493

[ "328

"958

14 -2

"978

n.a.

} (16)

(16)

(16)

(16)

(16)

O6)
7,605
1,446
554
892
(16)

1,674

(16)

(16)

-1,736

3,238

-3,062

5,930
7,387
7,445
7,386

5,970
5,418
5,463
5,449

3,446
3,073
3,137
3,132

(16)

-556

5,002
4,479
4,498
4,294

"106

"782 "-6, 146
1,543
1 (17)

(16)

(16)

[

"473

-206
17

1 ( )

-551
(17)

-55
(17)

(16)

1,334
511
823

(17)

2,569
1,853
716

1,921

1,124

666

"207

(17)

"839

"1,858 "-1,885 "-5,437
869
(17)

-150
(17)

973
152
821
(17)

545
" -13

4,930

4,649

(17)

(17)

83

-77

00

(17)

551
-462
1,013

1,016
302
714

(17)

(17)

1,208

1,643

"717

n.a.

"1,908

" -915 17-4,570

17 -486

"2,531

383

-4,853

3,842

-4,060

2,360

-882

4,571
3,718
3,770
3,767

4,920
6,689
6,839
6,834

5,084
4,562
4,704
4,703

3,270
3,085
3,251
3,251

4,095
3,814
3,934
3,934

4,176
3,433
3,558
3,558

SURVEY OF CURRENT BUSINESS

June 19S1

67

Transactions by Area—Continued
of dollars]
European Communities (6) 12

United Kingdom

1980
I

II

1980

1981
III

IV

If

II

III

IV

I*

I

1,422
1,253

960
769

870
705

1,597
1,416

1,768
1,575

32

31

26

32

33

6
20
1

5
20
1

4
20
1

4
20

4
21
1

6,055
2,737
74
148
109
211
189
27
90
15

6,491
3,081
82
110
65
196
201
28
95
8

6,667
3,279
56
90
69
211
170
28
97
12

15,592
10,565
340
145
77
371
468
67
112
6

13,850
10,123
275
275
118
411
386
67
117
3

12,674
8,940
340
360
193
398
436
68
122
5

13,155
9,327
262
200
77
381
497
68
128
8

13,477
9,817
226
165
93
403
443
68
137
6

1,680
565
1,115
1,167
5

1,228
666
562
1,272
6

1,289
557
733
1,159
7

1,298
1,256
43
1,255
72

1,206
454
752
1,441
8

2,824
1,159
1,666
594
23

1,423
1,115
308
620
32

1,235
884
350
556
22

1,449
554
895
729
29

1,041
538
503
887
193

-1

(*)

IV

III

II

Line

IP

(*)

:
a

A
5
6
7
8
S
1C

11
12

84
26

91
43

73
41

90
35

110
24

-375
-334
(*)
-4
-1
-20

-422
-346
-1
-29
-11
-20

-454
-396
-1
-18
-9
-18

-408
-368
-1
-7
-1
-19

-491
-450
-1
-2
-2
-19

-1
-2
-8

-1
-2
-6

-1
-2
-5

-1
-2
-6

is
14

15

ie

(*)

-4,754
-2,425
-166
-69
-153
-202
-16
-21
-121
-14

-5, 174
-2,300
-163
-332
-269
-210
-23
-20
-131
-10

-5, 109
-2,562
-186
-322
-238
-209
-30
-20
-139
-13

-5,298
-2,561
-172
-180
-164
-219
-36
-20
-85
-9

-5,772
-2,821
-218
-122
-209
-211
-96
-20
-145
-11

-11,289
-6,639
-906
-160
-186
-313
-75
-22
-93
-47

-11,472
-6,633
-895
-358
-344
-327
-86
-23
-92
-56

-10,833
-5, 976
-994
-468
-305
-330
-79
-23
-94
-57

-10,825
-5,864
-989
-218
-205
-322
-82
-24
-97
-68

-11,283
-6, 324
-1,074
-159
-274
-323
-84
-24
-103
-46

-188
-87
-101
—1, 119
-261

-386
-218
-168
-1,076
-253

-334
-127
-207
-791
-265

-384
-159
-225
-1,168
-301

-313
-144
-169
-1,282
-324

-997
-274
-722
-642
-1,209

-990
-442
-548
-579
-1,090

-894
-280
-614
-509
-1, 104

-1,071
-285
-786
-688
-1, 196

-862
-316
-546
-692
-1,318

95

72

90

-21

-23

-20

-22

-26

33

(*)

1

(*)

(*)
76

72

84

62

(*)
-7

-4

-5

-6
(*)

(*)

(*)

27
28
2S
3G
31

-8

—6
(*)

17
18
IS
2C
21
22
23
24
25
26

(*)

32

(*)

82

86

76
-1
-75
152

(*)
-73
168

(*)
-73
145

-78
167

-4
-17

-5
-18

-6
-15

-6
-16

-7
-19

34
35
36

-262

104

245

22

-26

37

-15
87

-15
91

-ie
100

-16
78

-17
99

-5
-74
164

243

-6,740

2,052

-3,025

-3, 175

-3,527

-1,183

-1,972

-8,013

-4,045

(*)

-1,651

269

-117

-3,661

-2,180

-1,651

269

-117

-3,661

-2,180

66
25
41

-80
-115
58
-22

-33
-65
29
3

-83
-118
35

-5
-60
35
20

58
-42
94
6

43
-88
120
12

124
-42
166
(*)

61
-16
77
C)

62
-24
77
9

43
44
45
46

121

-39

-87

47
48
49
50
51

(*)

38
39
40
41
42

-91
-96
6
-2

-88
-109
18
3

-40
-50
11
-1

41
-83
124

13
-3
11
5

334
—1,363
-248
-1, 115
206

-6, 652
-696
-135
-562
-291

2,092
-1,082
-350
-733
-165

-3,065
-1,440
-1,397
-43
174

-3, 189
483
1,235
-752
-150

-1,941
-1,498
168
-1,666
-314

-1,373
-680
-372
-308
-278

-1,822
-468
-118
-350
-69

-4, 269
-2, 797
-1,902
-895
-252

-1,861
213
716
-503
-72

-320

61

"256

14-49

"-259

n.a.

"199

"144

"-73

"-783

n.a.

14—22

"6

"114

"-22

n.a. I(

52
53

"1,235

15-5, 616

15 3, 110

«-l,541

15-3, 522

i*-329

is-559

i«-l, 212

15-437

15-2,001

15-298

1555

»7

"-17

15-87 If

54
55

4,494

-527

471

1,359

4,160

-2,399

-6

3,651

577

-71

82

6

47

|-

(")

[

17

(17)

30

( )
-91
-192
101

" 229

(17)

-54
(17)

1,366
1,198
168
(")
403

(17)

-6
(17)

371
165
207

10

1

(17)

(17)

300
131
169

709

"340

"3

"858

"3,436

" -2,582

"-606

17 -291

"2,823

-6,835

5,244

-3,553

411

829
2,026
2,098
2,098

1,446
1,947
2,023
2,023

175
946
1,030
1,030

520
1,193
1,255
1,255

1,001
" 118

(17)




(*)

(17)

(17)

-96
-321
225
(17)
886

(17)

}

1981

I

7,121
3,746
90
135
85
242
200
26
83
10

(*)

1980

1981

6,781
3,254
60
76
56
197
176
26
73
11

C)

}

Eastern Europe

(17)

-214

498
(17)

1

(17)

( )

1,424
702
722
(17)
123

1,209
662
548
(17>
265

"81

17

-86
(17)

(17)

-168

623
-163
786
(")
322

"493

"-15

14 -122

"-3,813

"-1,974

"178

-1,962

1,537

-1,266

458
895
977
977

3,926
4,303
4,394
4,389

3,490
2,378
2,455
2,454

(17)

1,027

n.a.

589
-25
614

(17)

(")

-43
(")

(*)

75
(")

(17)

(17)

(")

(17)

(*)

(*)

(*)

(*)

(*)

(17)

(17)

(17)

(")

(")

(17)

(17)

727
181
546

(17)

56

-32
f
1
1
I
(
1

5

7
58
59
60
61
62
63
64
65
66
67
68
69

(")

(17)

n.a.

14-21

"-10

"1

14-2

n.a. (1

70
71

"2,871

17-832

"-50

"92

"5

"49

17-32 If

72
73

-462

1,960

i,i84

-694

-700

-646

-1,236

-1, 194

74
75

2,964
1,842
1,937
1,936

3,463
2,330
2,402
2,402

3,493
2,194
2,284
2,284

919
1,048
1,027
1,027

423
537
514
514

309
416
396
396

1,048
1,189
1,167
1,167

1,125
1,278
1,252
1,252

76
77
78
79

(17)

(")

608

C)

SURVEY OF CURRENT BUSINESS

68

June 1981
Table 10.—U.S. International
[Millions

Canada

Line

(Credits +; debits -)*

.

Transfers of goods and services under U.S. military grant programs, net
Imports of goods and services
Merchandise adj listed , 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

34
35
36
37
38
39
40
41
42

.

_-

17
18
19
20
21
22
23
24
25
26

33

.. ..

-

16

32

---

-

-

.. - -

- -

Payments of income on foreign assets in the United States:
Direct investm ent
-Interest dividends and earnings of unincorporated affiliates
Reinvested earnings of incorporated affiliates
Other private payments
.
U S Government payments
-- -- --

70
71
72
73

IV

I*

I

II

14,283
10,233
17
733

14,727
U.,795
619

13,414
9,717
26
604

14,218
10,644
21
472

14,989
11, 149
22
746

152
217
11
143
1

177
240
13
145
3

182
246
14
149
13

175
228
15
154
2

174
225
16
161
2

14,712
8,152
22
714
99
331
101
23
291
12

17,344
9,810
20
960
99
389
143
25
313
13

17,142
9,885
23
1,184
181
378
137
26
216
26

19,355
10,964
14
1,090
123
369
210
27
321
10

19,761
10,779
11
887
113
388
140
28
329
15

1,571
479
1,092
1,203
2

1,549
643
905
1,164
7

1,286
388
898
1,176
2

1,328
732
595
1,172
8

1,119
505
614
1,375
2

1,538
822
716
3,344
84

1,919
1,087
832
3,571
84

1,651
780
871
3,228
1
109

1,743
816
928
4,394
90

1,586
791
795
5,389
97

2

1

1

3

2

-

-

76
77
78
79

Memoranda.
Balance on merchandise trade (lines 2 and 18)10
Balance on goods and services (lines 1 and 17)
.
Balance on goods, services and remittances (lines
77 35 and 36)
Balance on current account (lines 77 and 33) 10

See footnotes on page 61.




IP

-172
-86
-86
-316
-52

-1,398
-75
-1,323
-306
-49

-64
-25
-39
-447
-46

-109
-70
-38
-489
-42

-220
-109
-111
-1,841
-39

-231
-107
-124
-1,522
-49

-256
-120
-136
-1,296
-53

-2

-1

-1

-297
-103
-194
-1,987
-69
-3

-274
-109
-164
-2, 169
-86
-2

-61

-65

-45

-274

-282

-292

-44
11

-44
1

-53
-8

-55
-10

-49
4

-84
-50
-140

-80
-51
-151

-88
-56
-149

-106
-57
-169

-77
-50
-161

-3,120

-2,452

-725

-582

712

-9,008 -13,172 -10,437

-4,479

-22
-32
9
1

5
-9
12
2

-11
-20
8
1

-63
-81
18

-51
-51
9
-8

-79
-315
244
-8

-166
-439
273
1

-36
-307
269
2

-3,098
-1,383
-292
-1,092
-899

-2,457
-1,618
-713
-905
-566

-764
-615
283
-898
-330

-663
-244
351
-595
-298

-531
-94
520
-614
-29

791
-326
390
-716
143

-8,963 -12,963 -10, 271
-1,073
-700
-556
-146
132
315
-928
-832
-871
-105
-56
55

-4,442
-620
175
-795
39

[ " -87

"74

" 118

n.a.

> 15-728

15-347

"240

15-239

15-408

1,624

1,056

2,663

1,228

-842

520

-248

-339

-100

-775
(*)

-287

(*)

-.

--

Foreign official assets in the United States, net
.-- .
U.S. Government securities..
6
U.S. Treasury
securities
Other 7
Other U.S. Government liabilities 8
U.S. liabilities reported by9 U.S. banks, not included elsewhere.
Other foreign official assets
Other foreign assets in the United States, net
Direct investment
Equity and intercompany accounts
Reinvested earnings of incorporated affiliates .
. -- -.
U.S. Treasury securities
U.S. securities other than U S Treasury securities
U.S. liabilities to unaffiliated foreigners reported by U.S. nonbanking concerns:
Long-term
Short-term
.
U.S. liabilities reported by U.S. banks, not included elsewhere:
Long-term
Short-term.
Statistical discrepancy (sum of above items with sign reversed)

IV

-43

Foreign assets in the United States net (increase/capital inflow (H~))

74
75

III

-32

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. private assets, net
Direct investment
Equity and intercompany accounts
- - - Reinvested earnings of incorporated affiliates
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

57
58
59
60
61
62
63
64
65
66
67
68
69

III

-332

Unilateral transfers (excluding military grants of goods and services), net

47
48
49
50
51

56

II

U.S. military grants of goods and services, net

U.S. assets abroad, net (increase/capital outflow (—)) .
U S official reserve assets net ^
Gold
Special drawing
rights
Reserve position in the International Monetary Fund
Foreign currencies

1981

I

-162
-42
-120
-370
-51

...

U S Government assets other than official reserve assets, net
U S loans and other long-term
assets
Repayments on U S loans 5
U S foreign currency holdings and U S. short-term assets, net

54
55

1980

-12,283 -11,258 -12,532 -13,106 -12,654 -14,008 -12,830 -12,287 -13,797 -14,903
-11, 164 -9,907 -9, 462 -11,901 -11,410 -9, 941 -9, 216 -8, 705 -9,659 -10, 138
-101
-125
-77
-36
-51
-23
-27
-51
-89
-91
-943 -1,315
1,139
-933
-200
-885
-445
-287
-229
-1,075
-88
-73
-55
-94
-94
-243
-274
-174
-267
-266
-130
-171
-138
-161
-280
-6
-5
-6
-12
-58
-55
-47
-57
-64
-6
-2
-2
-2
—4
-2
-4
-4
-4
—2
-4
-324
-341
-367
-104
-388
-102
-107
-114
-106
-348
-64
-63
-41
-12
-65
-68
-7
-8
-8
-85

43
44
45
46

52
53

1981 P

1980

2
. .
.
_. _.
1 Exports of goods and services
Merchandise adjusted excluding military 3
2
Transfers
under
U
S
military
agency
sales
contracts
3
Travel
4
Passenger fares
.. . .5
Other transportation
6
Fees and royalties from affiliated foreigners ...
7
Fees and royalties from unaffiliated foreigners
8
Other private services
9
U S Government miscellaneous services
10
Receipts of income on U.S. assets abroad:
Direct investment
- -11
Interest dividends and earnings of unincorporated affiliates
12
Reinvested earnings of incorporated affiliates
. -.
13
Other private receipts
.
14
U S Government receipts
15

27
28
29
30
31

Latin American Republics and Other
Western Hemisphere

---

-231
\ (")
I

I

22
(")

(16)

(16)

7

" -59

(16)

(16)

9

362

<3»

107

467

(16)

(16)

(16)

152,422 15-8,707 15-12,360 15-8,052 15-3, 861
2,272

7,164

C17)

(»)

-2,297

(17)

(17)

}

O7)

O7)

(17)

(17)

O7)

261
150
111
(")
126

320
196
124
(17)
49

237
101
136
(")
-55

409
215
194
1T
( )
211

310
145
164
(»)
143

"-113

"190

"1,218

n.a.

(16)

"2,024 "-4,074

"1,906

(16)

1,567
701
662
39

n.a.

J

(*)
(16)

2,911
1,418
96
1,323

"9 "-1,041

-3,826

(16)

536
232
146
86

"390

-209
-537
338
-10

2,617

(16)

1,855
249
129
120

"-1,448

-45
-346
281
19

-6

26

-742
186
148
38
(16)

244

n.a.

"212

-8

-5

-4

(17)
8

"-28

"25

"442

(16)

(16)

(16)

-473

-2,031

-2,709

-1,549

-867

-3,759

8,601

6,338

-1,953

2,205

-931
2,001
1,968
1,968

888
3,469
3,426
3,426

255
882
821
821

-1,257
1,112
1,047
1,047

-261
2,335
2,290
2,290

-1,789
704
514
430

594
4,515
4,313
4,233

1,180
4,855
4,651
4,563

1,305
5,558
5,332
5,226

641
4,858
4,648
4,571

I " -207

I O6)

"5,330 "-2,758

SURVEY OF CURRENT BUSINESS

June 1981

69

Transactions by Area—Continued
of dollars]

II

III

IV

I*

1981

1980

1981

1980

I

Other countries in Asia and Africa

Australia, New Zealand, and South Africa

Japan

I

II

IV

III

I*

1980

International organizations
and
unallocated13

1981

I

II

III

IV

1980

I*

I
726

7,017
5,033
23
208
115
355
94
85
39
1

7,276
5,203
32
190
118
394
109
88
38
1

7,249
5,193
40
216
104
384
105
90
39
1

7,531
5,377
33
160
103
378
104
92
40
1

8,255
5,600
66
225
128
397
110
94
42
2

2,330
1,461
40
60
39
76
69
14
48
(*)

2,681
1,712
50
100
54
90
78
15
54
1

2,802
1,820
50
82
57
86
82
16
58
(*)

3,232
2,124
23
58
51
81
93
18
58
(*)

2,998
1,983
26
67
44
85
83
19
65

15,692
10,069
1,048
163
78
521
109
26
271
47

14,477
10, 987
1,378
185
90
529
118
27
289
40

16,967
11,318
1,367
230
150
553
140
29
303
55

17,495
11,723
1,467
120
86
519
278
30
313
41

18,097
12,098
1,340
180
89
529
158
31
319
39

199
125
74
825
39

170
144
25
903
31

252
285
-34
773
54

250
70
180
952
42

280
178
101
1,250
61

442
246
196
78
3

400
196
204
121
5

473
245
228
74
4

586
289
296
134
6

526
249
277
107
3

2,260
1,983
277
893
208

-437
-865
429
924
347

1,653
1,517
136
835
334

1,386
1,187
199
1,080
454

1,712
1,373
340
1,296
306

129

117

110

171

167

-8,782
-7,287
-206
-30
-33
-499
62
-4
-28
-9

-9,678
-7,984
-250
-64
-45
-498
20
-5
-27
-9

-9,556
-7,949
-262
-53
-40
-471
53
-5
-28
-10

-160
-8
-153
-187
-400

-228
-55
-173
-190
-399

-202
-23
-178
-142
-448

-6

-25

-21

5
-12

-5
-20

-4,050
-202

(*)

(*)

-9,740 -10,406 -1,908 -1,828 -1,722 -2,100 -1,746
-7,997 -8,550 -1,656 -1,610 -1,482 -1,785 -1, 396
-272
-12
-10
-15
-249
-9
-6
-32
-36
-102
-38
-39
-75
-135
-41
-24
-44
-47
-44
-36
-54
-451
-71
-457
-66
-70
-58
-67
-1
-1
-1
21
23
(*)
-6
-5
(*)
(*)
(*)
C)
(*)
-12
-13
-31
-12
-14
-29
-15
-12
-11
-11
-8
-10
-9
-7

768

378
-76

368
-62

345
-74

353
-75

374
-69

143

146
1

148
1

149
1

161
(*)

1
2
3
4
5
6
7
8
9
10

152
24
129
128
1

109
12
97
69
-112

109
14
94
119
(*)

179
369
-190
66

182
27
155
119
1

11
12
13
14
15

24,176 -23,862 -22,224 -22,963 -24,436 -1,747
21,431 -21,083 -19, 400 -19,703 -21,033
-849
-752
-698
-740
-639
-716
-220
-263
-249
-249
-249
-49
-60
-60
-17
-45
-67
-342
-328
-358 -599
-346
-353
-3
69
51
61
69
-1
-1
-1
(*)
<*)
-62
-57
-56
-56
-58
(*)"
-102
-112
-114 -104
-109
-124

-1,287
-438

-771

-832

-851

-10
-562

-15
-489

-17
-529

-19
-525

(*)
-99

(*)
-103

(*)
-104

(*)
-129

17
18
19
20
21
22
23
24
25
26

-17
-15
-2
-19
-13

-12
-12
(•)
-22
-24

-11
-9
-2
-26
-28

-129

-117

-110

-171

-167

-15

-11

-9

-15

-14

-18

-15 -1,319

-782

-969

-1,559

-1,015

-5
-16

-4
-11

3
-14

-3
-7

-3
-12

-3
-11

(*)
-3
-15

-3
-12

-989
-79
-250

-519
-68
-194

-668
-73
-228

-1,120
-72
-367

-720
-77
-218

-1,970
-61

-1,012
-37

-209
-33

-2,916
3

-273

-539

-278

-336

-289

-909

-1,072

-2,904

-3,051

-111

-202

-61

-37

-33

3

49
-2
50
(*)

-30
-77
46
1

14
14

18
-1
19

-35
-53
17
(*)

-5
-11
6
(*)

4
-5
10
-2

-1
-7
7
(*)

11
-3
7
7

-3,897
-404
-331
-74
-141

-1,879
-79
-54
-25
-166

-989
128
94
34
-563

-194
331
511
-180
-184

-2,883
-264
-163
-101
-306

—268
-173
24
-196
-26

-543
-191
13
-204
57

-277
-333
-105
-228
7

-347
-172
125
-296
-20

-291
-298
-21
-277
-47

"-118

"53

"20

"216*

n.a.

14-2

"-55

"12

"-55

n.a.

"-3,233 <-l,687

15-574

15-557

«-2,313

15-68

15-353

1547

15-101

»54

15 112

3,327

1,145

3,025

547

169

-288

414

450

3,633

-467

O7)
-42
(17)

213
61
153

2,657

(17)

(17)

<->,
"104

"-224

"2,432

(17)

44

215
(17)

299
126
173
(17)
-65

"-750

(*)

(17)

8
(17)

170
-8
178

44
-88
132

-109
(17)

-50

26

175
46
129
(»)
-42

"28

"169

n.a.

(17)

17

(")

(17)

3, 135

"899

173,002

(")

(17)

22
(")
20
18
3

(17)

(17)

90
17

33
(17)

( )
-21
-25
4

(17)

(*)

2

(17)

30

"18

"77

14-5

"483

1717

17-347

1,740

13

1,287

2,053

-688

-468

-2, 254
-1,764
-1,771
-1,771

-2,781
-2, 402
-2,427
-2,427

-2, 756
-2,307
-2, 328
-2, 328

-2,620
-2,208
-2, 223
-2,223

-2,950
-2, 152
-2, 162
-2, 162

-195
422
413
413

102
853
838
838

48
(17)

2

6

6,288




(17)

46
46
(*)
(17)

3

-27
-151

-29
-135

-37
-145

-28
-150

-204

-190

-152

-195

-149

33

-204

-174

-152

-195

-149

34
35
36

439 -2,305
45 -2, 148

37
38
39
40
41
42

32

-17

-791
-1,186

-647
13

-1, 152
-34

112
-99

-259
-555

-261
1,285 -1,441
-294 -1,240
-707

-137
-137

-149
-150
2

-54
-54

-136
-139
3

43
44
45
46

339
144
421
-277
-59

-273
2,355
2,783
-429
10

-1,839
-150
-15
-136
38

-2,416
-626
-427
-199
20

1,078
-159
181
-340
-32

565
228
356
-129
332

-523
-546
-449
-97
28

445
88
183
—94
346

447
152
-38
190
294

-21
-97
58
-155
66

47
48
49
50
51

"141

"-314

30

32
26
5

(17)

<-20

6,938

3,850

O7)

(17)

268
(17)

(17)

-86
-91
5

(17)

15-5

1511

2,998

603

-509

-721

-351

(54
\55

1610

-51

56
f
1
I
[
[

1

3 1
(17)

127
125
3
7

O)

«1

"

(17)

41
36
6

1

603

(17)

-509

(17)

"136

"400

n.a.

i? 3, 493

173,920

17 2, 797

"437

4,467

1,152
261

2,115

-8, 935
-849
-6, 339 -1,021
-6,634 -1, 021
-7,354 -1,225

-438
-769
-786
-959

175,975

'3,493

»6

156

"432

17369

"1,269

74

73

17293

"-1

27

(52
153

n.a.

n.a.

(17)

(17)

(17)

(17)

183
182
1

4,548

234

80

"-18

"-76

5-2,324 "-1,706 15-1,734

96

n.a.

587
1,252
1,236
1,236

-26
-153

27
28
29
30
31

-170
-173
3

"23

339
1,132
1,114
1,114

-39
-33
-6
-845
-992

-1,189
-1,663
332
142

(i )

(17)

-33
-31
-3
-858
-870

-635
-1,077
391
51

7

26
24
2

-37
-32
-5
-577
-698

16

-1,065
-1,454
359
30

53
(17)

-32
-31
-1
-708
-646

1

-799
-1,265
413
53

07)

-501 -1,192 -1,398
338
1,080
1,067
1,067

-36
-30
-5
-661
-592

2 -1,248
-9 -1,678
299
8
131
4

(17)

I"

672

-12
-8
-4
-20
-19

(*)

IV

647

-11
-9
-3
-18
-16

(*)

III

518

-134
-5
-129
-229
-666

-136
-4
-132
-219
-598

II

Line

1981

7,080

4,300

5,280

5,529

-11,362
-8,485
-8, 814
-9,804

-10,096
-9,386
-9, 648
-10, 167

-8,082
-5, 257
-5,558
-6,226

-7, 680
-5,467
-5,907
-7,026

166

-175

-721

(17)

-12

-351

(»)
-34

-51 [

(17)

24

n.a.

17-334

I

70
71

'7-317

17-75

1,255

267

1,093
1,494

72
73
74
75

-124
-124
-270

-160
-160
-354

-83
-83
-232

76
77
78
79

17-709

(
1

57
58
59
60
61
62
63
64
65
66
67
68
69

SUKVEY OF CUEEENT BUSINESS

70

June 1981
Table 10a.—International Transactions by
[Millions

BelgiumLuxembourg

(Credits -J-; debits -) 1

Line

1978

1 Exports of goods and services '
Merchandise adjusted, excluding military *
2
Transfers under U S military agency sales contracts
3

4
5
6
7
8
9
10
11
12
13
14
15

.....

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 on U.S. assets abroad:
Direct investment
Interest dividends, and earnings of unincorporated affiliates
Reinvested earnings of incorporated affiliates
Other private receipts
U S Government receipts
.
_.

_ _.
_ _ .. _. _.

.-

16

Transfers of goods and services under U.S. military grant programs, net

17
18
19
20
21
22
23
24
25
26

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 paympTits for Tmsofillanp,oiis services

27
28
29
30
31

.

...

Payments of income on foreign assets in the United States:
Direct investment
Interest dividends, and earnings of unincorporated affiliates
Reinvested earnings of incorporated affiliates
Other private payments.. .
U S Government payments
.
.. . .

32
33
34
35
36

U S military izrants of goods and service's net
Unilateral transfers (excluding military grants of goods and services) , net
U S. Government grants (excluding military grants of goods and services)
U S Government pensions and other transfers
.
Private remittances and other transfers

37

U S assets abroad net (increase/capital outflow ( — ))
U.S. official reserve assets, net 4
Gold
Special drawingrights.
.
Reserve position in the International M onetary Fund
Foreign currencies
. ..

43
44
45
46

U S Government assets other than official reserve assets net
U S loans and other long-term assets . _
Repayments on U.S. loans s
U S foreign currency holdings and U S short-term assets, net

47
48
49
50
51

U.S. private assets, net. ..
Direct investment
. -.
Equity and intercompany accounts _
Reinvested earnings of incorporated affiliates
..
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 .
.
.

52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73

Allocations of special drawing rights
Statistical discrepancy, and transfers of funds between foreign areas, net (sum of
above items with sign reversed).

76
77
78
79

Memoranda:
Balance on merchandise trade (lines 2 and 18) 10
Balance on goods and services (lines 1 and 17)
Balance on goods, services, and remittances (lines 77, 35, and 36) _
Balance on current account (lines 77 and 33) 1°

-

-

1979

1980 9

10,982
7,539
13
216
150
292
325
45
156
8

11,780
7,204
219
333
117
412
429
114
86
26

14,042
8,694
308
440
159
448
464
108
111
16

16, 154
11,449
422
500
190
539
545
116
115
8

511
175
336
142
5

979
237
742
280
4

656
263
393
402
5

816
378
438
409
12

972
409
563
695
10

1,328
358
970
902
8

2,669
1,278
1,391
160
11

2,898
1,445
1,453
301
95

1,853
1,282
571
352
65

n.a.

n.a.

n.a.

n.a.

-5,662
-4,068
-52
-287
-188
-133
-20
-14
-69
-49

-7,084
-4,783
-54
-355
-211
-121
-19
-17
-84
-73

-8,066
-5,262
-46
-383
-229
-144
-21
-19
-121
-94

-16,219
-9,970
-2,262
-220
-285
-493
-83
-30
-137
-66

-18,828
-10,953
-2,637
-283
-306
-562
-122
-40
-205
-69

-20, 104
-11,692
-3,023
-322
-312
-619
-140
-52
-151
-69

-163
-84
-79
-305
-314

-245
-123
-122
-499
-623

-220
-91
-129
-728
-799

-194
-98
-96
-260
-2, 219

-232
-94
-138
-459
-2,960

-146
-138
-8
-524
-3,054

-13

-46

-46

-45

n.a.
521

n-a.
557

n.a.
596

-5
-4

-6
-7

-19
-27

-20
-26

-24
-21

-109
630

-133
690

-116
712

-1,192

-1,368

-2,862

-475

-2,318

-4,888

852

-6,431

-2, 767

1,890

-5, 159

-2,767

1,890

-5, 159

n.a.

-2,485
-1,762
-93
-37
-36
-71
-8
-1
-21
-20

-2,570
-1,740
-70
-50
-58
-92
-10
-6
-18
-24

-174
-6
-168
-191
-65

-162
-1
-161
-269
-71

n.a.
-8

-9

-5
-3

n.a.
-3,038
-1,912
-95
-44
-73
-100
-11
-4
-21
-28

-287
(*)
-287
-354
-109

(*)

74
75

1978

8,328
5,633
5
180
124
230
295
54
119
11

(*)

n.a.

n.a.

(*)

5

1

3

68
1

29
—17
47
-1

18
-13

14
-13

14
-11

-544
-810
-247
-563
-20

-2,347
-1, 314
-344
-970
-167

-2, 126
-1,482
-91
-1,391
282

-1,039
-718
735
-1,453
—5

-1,275
-1,643
-1,072
-571
38

-116

-555

(*)
-359

1 -»

198

-1,993

402

-311

-567

-232

132

2,007

4,165

1,858

3,121

17,414

1,564

-6,632

C11)

(")

(")

<")

(")

(")

-37
-61
9
15

65
-4
69
(*)

69

7
-34

16
-1
8
9

-700
-139
197
-336
51

-1,208
-1,098
-356
-742
-61

-1,331
-471
-78
-393
-203

-2, 927
-634
-196
-438
-119

5
45

} -3

-191

-662

-6

-466

675

2

-27

[

1980 9

6,392
4,258
3
140
89
194
300
46
106
19

Foreign official assets in the United States net
U S Government securities
(")
(")
U S Treasury securities 6
Other?
8
Other U S Government liabilities
. . .
149
10
U S liabilities reported by U S banks not included elsewhere
Other foreign official assets '
(1!)
(»)
Other foreign assets in the United States, net
- .. _176
260
Direct investment
8
99
Equity and intercompany accounts
_
168
161
Reinvested earnings of incorporated affiliates
1
U S Treasury securities
(»)
O)
-43
- U S securities other than U S Treasury securities
-146
U.S. liabilities to unaffiliated foreigners reported by U.S. nonbanking concerns:
Long-term
118
124 }
Short-term
- ..
U.S. liabilities reported by U.S. banks, not included elsewhere:
Long-term
»-240
Short-term
.
- | 11 269




1979

8,651
6,673
330
60
28
115
311
22
48
1

-

Foreign assets in the United States net (increase/capital inflow (+)')

See footnotes on page 61.

1978

7,068
5,223
179
48
19
86
201
11
36
2

-727

38
39
40
41
42

1980^

1979

Germany

4,724
3,682
29
34
12
74
193
10
29
3

n.a.

- -- -

France

(
\

-6
-175 }

1

(
1

(")

-340

-200

(»)

(")

(")

(")

(»)

(")

(")

309
22
287
(")
-200

180
101
79
(»)
77

312
190
122
(»)
133

383
254
129
11
C )
611

1,106
1,010
96
(ll)
264

2,015
1,877
138
(»)
-144

-385
-393
8
(»)
399

69
98

} «

136

239

"1,883

11 3, 740

11 1, 264

11 1, 843

11 15, 899

-55

70 (I

2

10

274 I(

20

10
115 }

»-103 "-6,685

-2, 179

-3,299

-6,239

-1,987

-2,581

-3,674

-8,608

1,813

16,417

1,920
2,239
2,231
2,231

3,483
4,498
4,489
4,489

4,761
5,613
5,600
5,600

190
730
684
684

850
1,244
1,198
1,198

2,277
2,916
2,871
2,871

-2,766
-4,439
-3, 918
-3, 918

-2,259
-4, 786
-4,229
-4,229

-243
-3,950
-3,354
-3,354

SURVEY OF CURRENT BUSINESS

June 1981

71

Selected Countries (published annually)
of dollars]
Italy

Mexico

Netherlands

Venezuela

South Africa

Australia

Line

1979

1978

1980 P

1978

1979

1980 v

1978

1979

1980 P

21,740
4,817
15, 197
3,728
1
3
2,554 i 351
234 1
204
14
29
336
90
12

4,774
3,371
19
70
53
204
205
56
54
12

6,478
4,459
35
84
64
228
244
59
63
7

8,318
5,606
39
96
80
291
286
61
67
2

6,934
4,843
39
84
8
216
387
24
63
4

9,303
6,334
98
97
11
249
323
28
75
4

10,730
7,454
413
108
17
323
318
25
94
2

9,905
6,689
1
1,459
114
85
23
247
5

14,445
9,931
2
1,869
158
113
23
281
3

548
226
322
168
14

925
289
636
297
13

1,298
517
781
476
16

1,172
547
625
82
12

1,934
790
1,144
139
11

1,797
1,292
505
169
10

582
156
426
657
43

843
232
611
1, 173
49

1,173
273
900
1,943
57

n.a.

n.a.

n.a.

n.a.

n.a.

n.a.

n.a.

-4,037
-1,590
-67
-65
-258
-141
-10
-17
-25
-8

-5,417
-1,850
-61
-71
-240
-169
-14
-12
-12
-10

-6,629
-1,895
-62
-95
-270
-185
-155
-12
-21
-11

-9,025
-6,094
-1
-2, 121
-101
-1
-1
-460
-21

— 1 392
-425
-967
-270
-194

—2,386
-619
-1,767
-349
-243

—3, 257
-1, 019
-2,238
-412
-254

—3
-2
-1
-220
-2

—1
-3
2
-337
-3

n.a.

n.a.

-5,570
-4,108
-339
-260
-125
-178
4
-5
-46
-21

-7,031
-4, 923
-495
-300
-144
-200
2
-5
-55
-25

-6,538
-4,309
-558
-360
-156
-244
4
-5
-62
-26

—16
-12
-4
-213
-263

—28
-22
-6
-402
-456

—39
-32
-7
-400
-383

n.a.
-169
—7
-117
-45

n.a.
-199
-12
-128
-59

n.a.
-194
—6
-140
-48

n.a.
-10

n.a.
-12

n.a.
-13

-5
-5

-5
-7

-6
-7

n.a.
-236
—2
-81
-153

-859

-1,131

-2,929

-1,005

-1,547

-1,353

-1,490

1978

277
146
131
346
g

1979

1980*

5,333
3,970
5
466
15
88

1978

6,499
4,574
7
(
575 {
I
30
|
323 1
1

143
156
-13
637
9

105
47
58
873
12

1979

1980 P

1978

4,634
5,631
2,712
3,482
82
201
122
160
134
108
104
136
181
178
26 26
74
74
2
2

6,533
4,051
153
190
160
169
225
33
85
1

1,623
1,084

2,142
1,417

3,603
2,464

22
3
58
54
14
44

30
4
83
55
17
36
1

32
2
107
77
25
116
1

1,099
675
424
245
10

1,174
736
438
282
10

217
135
82
127

365
124
241
134

658
228
430
121

895
559
336
201
11

(*)

n.a.

n.a.

n.a.

n.a.

n.a.

n.a.

n.a.

-3,950
-3, 589
-1

-5,711
-5,204
-14

-6,019
-5, 314
-14

-137

-166

-213

-2,042
-1,657
-18
/
-73
-47
-96
-3
-1
-19
I -27

-2,651
-2,163
-26
-95
-59
-141
-2
-1
-26
-25

-3, 152
-2,507
-33
-144
-65
-180
-3
-1
-30
-25

-2,351
-2, 259
-1
-27
-15
-24
(*)
(*)
-6
-7

—4
-6
2
-473
-3

1
-1
2
-208
-16

—3
-6
3
-309
-15

—16
-17
1
-437
-25

—21
-21
(*)
-44
-36

—30
-30
(*)
-48
-35

—45
-38
-7
-56
-63

1
-1
-6
-6

n.a.
-304
—17
-96
-191

n.a.
-354
-12
-114
—228

n.a.
-11

n.a.
-15

n.a.
-12

n.a.
-19

nau
-24

n.a.
-34

-1
-10

-2
-13

-2
-10

-6
-13

-7
-17

-4,778

-5,531

-1,549

-1,185

-855

-797

-357

-12,254 -16,384
-8,800 -12,580
-1
-2
-2,460 -2,564
-153
-125
-2
-1
-1
-1
-551
-489
-52
-35

1980 *

1979

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15

n.a.

16

-2,745
-2, 617
-1
-30
-20
-38
(*)
(*)
-11
-11

-3,459
-3, 320
-1
-11
-27
-41
(*)
(*)
-16
-12

17
18
19
20
21
22
23
24
25
26

1
1
(*)
-12
-6

(*)
(*)
(*)
-22
-9

27
28
29
30
31

n.a.
-7

n.a.
-9

n.a.
-9

-8
-26

-1
-6

-1
-8

-1
-8

32
33
34
35
36

-885

-77

328

n.a.

-406

37
38
39
40
41
42

f
{

17
—1
17
1

31
—1
30
2

-178
—221
42
1

26

25

45

25
1

29
-4

27
18

-13
—65
51
1

-85
—154
68
1

-168
—248
80

2
—41
44
-1

-14
—36
22
(*)

-18
—38
20
(*)

32
-8
44
-4

30
—10
40
(*)

4
-21
21
4

2

4

1

43
44
45
46

-876
-512
-190
-322
18

-1, 162
-696
-60
-636
4

-2,751
-1,015
-234
-781
22

-1,031
-708
-83
-625
126

-1, 572
-1,641
-497
-1,144
-122

-1, 398
-1,000
-495
-505
-298

-1, 477
-414
12
-426
-132

-4, 693
-837
-226
-611
26

-5,363
-1,420
-520
-900
37

-1,551
-115
16
-131
34

-1, 171
-2
-15
13
-15

-837
-71
-13
-58
64

-829
-608
-272
-336
-158

-387
-567
-143
-424
24

-889
-404
34
-438
16

-79
-155
-73
-82
-16

324
-78
163
-241
-3

-407
-414
16
-430
3

47
48
49
50
51

-1
-59

-237

52
5

-36

-i

-4 }

-26

-45

52
53

-322

-233

-1, 791

-404

172

-101

828

-177

-50

2,023

2,910

3,298

33 fI

11
-56 •

1 (f

19

1
(")

(")

(")

(")

(»)

(")
1

-8

—18

-13

145

189

-83

-35
-123 [

-190

-438 (
I

-41 If

1
-10 | -39

2

r

-66 (

4

-773

-3, 692

-3,542

-1,527

-1, 118

-789

-54

195

-435

97

431

660

924

411

967

322

-815

-163

171

618

9

59

(«)
-3

(")

(u)

(*)

(*)

(u)

(")
2

-3

(ll)

(")

(")

85

—4

198

(n)

(")

(»)

(*)

189

1
1

-29
-35
6

120
113
7

1,946
979
967

2,522
755
1,767

3,418
1,180
2,238

2
1
1

9
11
-2

-9
-7
-2

-10

-8

1

-31

-71

-269

20

9

20

-91

27 ({

-28 \
-16

419

-174

-6 [
34

"406 | 11 622

"855

"29

n-185

»7

"-149

996

2,000

1,393

-3,905

-5,237

-6,033

-737
-796
-958
-965

-464
-553
-740
-752

1,297
1,780
1,592
1,586

3,253
2,897
2,887
2,887

4,484
3,886
3,874
3,874

5,559
4,101
4,088
4,088




-8 }
27

172

45 f(

-4
-2
-2
(")
30
3
102 i

-9
-6
-3

-2
-1
-1

-16

-1

21

14

H734

H355

»834

"329

»-822

186

1,967

118

-274

1,256

1,202

595
880
646
644

1,131
2,191
1,904
1,887

2,617
5,356
5,014
5,002

139
867
856
856

-1,234
-378
-393
-393

-740
480
468
468

57
57
6

:

-3

•

54
55
56

134

f1 57
58
(")
i 59
I 60
1
61
62
63
64
65
9
66
9
67
68
69
(*)

64
64

18
11
7

-4
-5
1

8

46

-4

3

44

(
99 i

-1 [
25

34

14 fI

70
71

"19

"110 I(

72
73

(*)

(*)

49 {f

{

00
-37
-41
4

1

3
3
(*)

S

"-143

"266

-1,613 -2,770

-3,080

803

225

137

74
75

1,319
2,980
2,956
2,956

1,544
3,381
3,347
3,347

-1, 175
-728
-735
-735

-1,200
-603
-612
-612

-856
144
135
135

76
77
78
79

»-308

1,055
2,592
2,573
2,573

72
(Continued from page 7)
First-quarter profits of manufacturers of nondurables other than petroleum increased sharply, surpassing
their previous peak. The increase occurred in almost all nondurable manufacturing industries. Profits of durable
goods manufacturers increased, but remained far below their peaks. Motor
vehicle manufacturers, which accounted
for about one quarter of durable manufacturers' profits at their peak in the
first quarter of 1979, swung to losses in
the third quarter of 1979. Losses increased in the first quarter of 1981, reflecting lower output of autos and
trucks as well as the costs of rebate
programs.
Profits of trade corporations increased sharply in the first quarter, as
did profits of transportation corporations. Within transportation, profits of
trucking and railroad corporations increased reflecting increased volumes of
freight carried; losses of airlines decreased, reflecting sharp increases in
fares which offset a decline in revenuepassenger miles.

SURVEY OF CURRENT BUSINESS

Table 5.—Revisions in Selected Component Series of the NIPA's, First Quarter of 1981
Seasonally adjusted at annual rates
45-day
estimate

(Continued from page 30)
on the ratios of PA to total plant and equipment spending. In editing, which is the process of examining the company responses with
the aim of making them as representative of
the universe as possible, companies that have
unusual PA investment patterns are often
treated separately in calculating sample
ratios to minimize their effect on the universe
estimates.
The only downward statistical revision—
in 1973—reflects revisions for electric utilities,
petroleum, chemicals, nonferrous metals, and
iron and steel. The downward revision in these
five industries reflects, in turn, downward revisions in their total plant and equipment
spending as well as reediting of responses and




75-day
estimate

Revision

Percent change from preceding
quarter at annual rates
45-day
estimate

75-day
estimate

Revision

Billions of current dollars

GNP
Personal consumption expenditures
Nonresidential fixed investment
Residential investment
Change in business inventories
Net exports
Government purchases
Federal
State and local
National income

_ .

-- - -

- -

Compensation of employees
Corporate profits with inventory valuation
and capital consumption adjustments
Other
Personal income

- -- - -

2,853.8

2,853.0

-0.8

19.3

19.2

-0.1

1,805.8
316.1
116.7
2.6
37.0
575.5
221.5
354.1

1,810.1
315.9
116.7
4.5
29.2
576.5
221.6
354.9

4.3
-.2
0
1.9
-7.8
1.0
.1
.8

13.1
19.9
13.7

14.2
19.6
14.0

1.1
-.3
.3

12.7
19.0
8.9

13.5
19.3
10.0

.8
.3
1.1

2,289.3

2,291.1

1.8

16.3

16.6

.3

1, 721. 9

1, 722. 4

.5

15.3

15.4

.1

202.6
364.8

203.0
365.7

.4
.9

49.4
5.8

50.6
6.8

1.2
1.0

2,318.8

2,319.8

1.0

11.6

11.8

.2

Billions of constant (1972) dollars

GNP
Personal consumption expenditures
Nonresidentialfixedinvestment . .
Residential investment .
Change in business inventories
Net exports
Government purchases
Federal
State and local

._

1,516.0

1,516.4

.4

8.4

8.6

.2

958.3
162.0
50.8
-2.3
53.9
293.2
111.0
182.2

960.2
162.0
51.0
-1.4
50.9
293.6
111.2
182.5

1.9
0
.2
.9
-3.0
.4
.2
.3

5.0
13.3
2.0

5.8
13.3
3.6

.8
0
1.6

4.8
14.3
-.5

5.4
14.8
.2

.6
.5
.7

10.0
10.2
9.9

9.8
10.2
9.8

-.2
0
-.1

Index numbers, 1972=100 1
GNP implicit price deflator
GNPfixed-weighted price index
GNP chain price index

188.25
194.4

1. Not at annual rates.

First-quarter NIPA revisions
The 75-day revision of the national
income and product account estimates
for the first quarter of 1981 are shown
in table 5.

June 1981

NOTE.—For the first quarter of 1081, the following revised
or additional major source data became available: For
personal consumption expenditures, revised retail sales for
March, consumer share of new car purchases for March, and
consumption of electricity for February; for nonresidential
fixed investment, revised manufacturers; shipments of equipment for Marcb, revised construction put in place for March,
business share of new car purchases for March, and business
expenditures for plant and equipment for the quarter; for
residential investment, revised construction put in place for

reclassification of reports. Because 1973 was
the first year PA questions were included on
the annual survey, determining whether company responses were representative of the
universe was difficult at that time. Reediting
and reclassification resulted in improved determinations for several industries.

3. Comparison of BEA and Census
Bureau Estimates for Manufacturing
Alternative estimates of capital expenditures for pollution abatement are available for
manufacturing from the Pollution Abatement
Costs and Expenditures Survey by the Census
Bureau. BEA estimates are larger than Census Bureau estimates in all years. The revision makes the ratios of BEA to Census

188.14
194.4

-1.1
0

March; for chanoe in business inventories, revised book values
for manufacturing and trade for March; for net exports of goods
and services, revised merchandise trade for March, and revised
service receipts for the quarter; for government purchases of
goods and services, revised construction put in place for
March; for waqes and salaries, revised employment, average
hourly earnings and average weekly hours for March; for
net interest, revised net interest received from abroad for
the quarter; for corporate profits, domestic book profits for
the quarter, revised profits from the rest of the world for
the quarter; and for GNP prices, revised residential housing
prices for the quarter.

estimates more stable and increases them in
each year except 1973 (table 10). For 197379, the average annual increase for BEA revised estimates is 8 percent and for the Census Bureau estimates is 7 percent.
The differences in the estimates are not surprising in light of differences in the underlying surveys. The Census Bureau sends questionnaires to parts of companies called
establishments, excluding establishments in
nonmanufacturing. BEA sends questionnaires
to companies; the resulting manufacturing
estimates include nonmanufacturing establishments owned by manufacturing companies
but exclude manufacturing establishments
owned by nonmanufacturing companies. Sampling methods, sample sizes, and extrapolation procedures also differ.

CURRENT BUSINESS STATISTICS

THE STATISTICS here update series published in the 1977 edition of BUSINESS STATISTICS, biennial statistical supplement to the SURVEY OF CURRENT
BUSINESS. That volume (available from the Superintendent of Documents for $6.25) provides a description of each series, references to sources of earlier figures,
and historical data as follows: For all series, monthly or quarterly, 1973 through 1976 (1966-76 for major quarterly series), annually, 1947-76; for selected
series, monthly or quarterly, 1947-76 (where available).
The sources of the data are given in the 1977 edition of BUSINESS STATISTICS; they appear in the main descriptive note for each series, and are also listed
alphabetically on pages 181-182. 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.
1978

Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS

1979

1980

Annual total

1978
III

1980

1979
IV

I

II

III

IV

I

II

1981
III

IV

74 12
2898
14.49
14.50
45 13
350
100
093
107
897
6 89
208
2038
9.28

8231
33 87
17.09
16.78
4844
4 oi
120
091
094
962
7 53
2 10
2209
9.67

I

II

III

78 40
'3051
'15.12
'15.39
'4789
'406
'105
'0 94
'107
'936
'7 29
'207
'21 12
'10.28

^039
32 25
16.02
16.22
48 14
4 40
1 10
0 71
106
965
7 42
223
2092
10.30

GENERAL BUSINESS INDICATORS—Quarterly Series
NEW PLANT AND EQUIPMENT
EXPENDITURES t
Unadjusted quarterly or annual totals:
Total nonfarm business
bil $
Manufacturing
do
Durable goods industries
ff
do....
Nondurable goods industries
fl
do....
Nonmanufacturing
do....
Mining .
. . . .
do
Railroad
do..
Air transportation
do
Other transportation
do.
Public utilities
do.. .
Electric
do
Gas and other
do .
Trade and services
do
Communication and other
do....
Seas. adj. quarterly totals at annual rates:
Total nonfarm business ,
do
Manufacturing
do..
Durable goods industries fl '
do
Nondurable goods industries
fl
do..
Nonmanufacturing
do....
Mining
do
Railroad
do..
Air transportation
do....
Other transportation
do
Public utilities
do
Electric
do....
Gas and other
do.
Trade and services ,
do.
Communication and other
do
U.S. INTERNATIONAL TRANSACTIONS
Quarterly Data Are Seasonally Adjusted
(Credits +; debits—)
Exports of goods and services (excl. transfers under
military grants)
mil. $..
Merchandise, adjusted, excl. military
do....
Transfers under U.S. military agency sales
contracts
mil $
Receipts of income on U.S. assets abroad
do....
Other services
• do
Imports of goods and services
do....
Merchandise, adjusted, excl. military
do....
Direct defense expenditures
do
Payments of income on foreign assets in the
U.S
mil. $..
Other services
do. .
Unilateral transfers (excl. military grants), net
mil. $..
U.S. Government grants (excl. military)
do....
Other
do
U.S. assets abroad, net
do.
U.S. official reserve assets, net
do....
U.S. Gov't assets, other than official reserve
assets, net
mil $
U.S. private assets, net
do....
Direct Investments abroad
do....
Foreign assets in the U.S., net
do....
Foreign official assets, net
do....
Other foreign assets, net
do.
Direct investments in the U.S
do....
Allocation of special drawing
rights
do....
Statistical discrepancy
do
Memoranda:
Balance on merchandise trade
do....
Balance on goods and services
do....
Balance on goods, services, and remittances .... do....
Balance on current account
do....
See footnotes at end of tables.




23124
7972
40.43
39.29
15152
1021
348
309
4 10
2995
2463
532
6866
32.02

27046
9868
51.07
47.61
17177
1138
403
401
431
33%
2765
631
7926
34.83

29563
11581
58.91
56.90
17981
1351
425
'401
382
3544
2812
732
81 79
36.99

5847
1993
10.24
9.69
3855
264
089
0 72
105
757
604
154
1734
8.35

6757
24 45
12.46
12.00
43 12
290
098
083
122
883
7 28
155
19 47
8.90

5726
19 65
10.04
9.61
3761
259
086
080
082
7 19
6 15
105
17 63
7.72

6681
2368
12.31
11.37
43 13
281
100
1 19
108
858
705
153
19 76
8.70

6839
24 93
12.99
11.94
4347
287
104
091
1 18
880
7 03
177
19 87
8.79

7799
30 42
15.73
14.69
4757
3 11
1 12
1 10
123
938
7 42
196
2201
9.62

65 18
24 10
12.54
11.56
4108
274
099
090
084
801
6 64
137
19 08
8.52

23324
7996
41 09
3887
15328
1048
354
308
405
30 16
2466
549
6873
3324

247 36
86 15
43 88
4227
16121
11 03
368
341
436
3213
2665
548
7332
3328

25555
9075
4638
4437
16480
11 23
390
349
404
3240
2685
555
7603
3371

265 24
9471
4925
4547
17052
11 01
383
403
4 16
3402
2788
6 14
7903
34 44

273 15
100 11
52 13
4797
17304
11 40
4 13
395
460
3505
2871
635
7886
3505

284 30
10657
55 03
51 55
17773
11 86
424
455
4 41

291 89
111 77
58 28
5349
180 13
11 89
446
390
4 11

34 08
27 16
692
8269
35 90

36 26
2898
7 28
82 17
37 34

7402
28 86
14.79
14.06
45 16
327
106
1 27
098
884
7 07
177
20 23
9.52
294 36
11569
5938
5632
17866
12 81
406
427
3 76
35 03
2791
7 12
8107
3766

296 23
116 40
58 19
5821
17983
13 86
398
406
4 ig
35 58
2814
7 44
81 19
3697

221,021 '228,925 '344,667 '56,429 '61,041 '65,424 '68,890 '74,718 '79,894 '85,764 '83,617 '86,655 '88,636
142,054 '184,473 '223,966 '36 811 '38,904 '42 036 '43 834 '47 236 '51 367 '54 898 '55 667 '56 252 '57 149

8090
'43,265
'27 614
'-230,030
-175,813
'-7 352

'6609
'8231 '1953 '2 056
'66,700 '75,936 '10,681 '12,795
'31 145 '36 536 '6984 '7 286
'-281,917 '-333 888 '-58 333 '-€0 606
'-211,819 '-249,308 ^4,336 -45,715
'-8556 ' 10746
1 874 ' 2045

'1 894
'14,111
'7 383
'-62 885
'-46,766
' 2028

'1 705 '1 599 '1 411
'15^582 '18]055 '18,952
'7 769 '7 828 '8 164
'-68 188 ' 72 265 ' 78582
'-51,117 '-54 210 '-59,726
2029 ' 2 164 ' 2334

'1 738 '2085
'20,465 '16,860
'8663 '9005
'-85 981 '-82 830
'-65,024 '-62 411
r 2656 r 2 512

rl

299 58 '312 24 rl311 87 1322 88
11863 '124 50 '121 99 13046
59 77 '61 24 '60 28
64 90
5886 '6327 '61 71
65 56
18095 '187 74 '189 88 19242
17 51
15 28 '16 20 '1593
4 41
'4 10
'423
4 54
377
309
'3 17
'385
'366
3 39
407
'4 21
38 23
34 96 '3605 '3739
3026
2754 '2769 '2898
7 98
'8 40
'8 36
741
8291 '8443 '8455
84 12
36 11 '40 32 '4054
4097

r

r

'6975
'2690
'13.24
'13.66
'4285
'369
'096
'088
'074
'795
'6 36
'159
'19 41
'9.23

P
94,159
P

61 117

'2 272 '2 136 p l 969
18,'850 '19,764 P21*420
'9281 '9 587 P9653
560
'-80 177 '-84 902 p_39
'-59 154 '-62,719 p-65 719
' 2 727 ' 2851 p 2670

'-21,865 '-33,236 '-43,174 '-5,686 '-6,315 '-7,352 '-7,949 '-8,734 '-9,203 '-10,629 '-10,342 '-10,697 '-11,507 p-12 551
'-25 000 '-28 307 '-30 660 '-6437 '-6531 '-6739 ' 7093 ' 7 157 ' 7319 ' 7672 ' 7 565 ' 7600 r 7 325 "-8620
'-5,067
'-3,183
1884
'-61 070
732
-4644
'-57,159
'-16,056
'63,748
'33,561
'30 187
7,897
'11 398

'-5,593 '-7,056 -1,233 '-1,318 '-1,311 '-1,381 '-1 401 '-1 501
'-3,536 '-4,659
'-911
'-854
-772
'-800
'-890
'-881
' 2058 ' 2397
-518
'-470
-461
'-611
'-457
'-520
'-62 639 '-S4 776 ' 9651 '-30 593 '-8057 ' 15639 ' 24942 ' 14003
-1,133 '-8,155
115
182 -3,585
322
-£49
2,779
'-3767 '-5 165 1 386
991 ' 1 093 ' 971 r 773
925
'-57,739 '-71,456 '-8,380 '-29,784 '-3,379 '-14,990 '-26,943 '-12,429
'-23,949 '-18,546 '-2,753 '-4,812 '-5,496 '-7,097 '-6,214 '-5,142
'38,946 '50,261 '16,827 '27,964 '2,259 '7007 '24 345 '5335
'-13,757 '15,492 '4,845 '18,434 '-8,688 '-9,785 '6,011 '-1 295
'52 703 '34 769 '11 983 '9530 '10 948 '16 792 '18 334 '6630
'11 877 '10 854
1608 '1553 '3353 '3382 '3588
2620
1,139
'1,152
1,139
'21 140 '29 640 '-4039 '3513 '3 430 '9309
'-455 '8857

'-1,878 '-1 332 '-1 503 '-2 344 p-l,512
p
-950
'-787
'-1,336
'-912 '-1,624
' 720 p-562
' 542 ' 545 '-591
p
is
' 12639 '-24 837 ' 19302 '-27 995 p 520
'-3,268
'502 '-1,109 '-4,279 -4,529
r 1 455
' 1 187T i 427 r i 094 pP i 353
'-7,915 '-24 152 '-16 766 '-22,622 -12
633
p
-982
'-4,863 '-2,710 '-3,851 '-7,122
P
'7509 '7232 '11651 '23 870
7541
'-7,462 '7557 '7686 '7711 PP5384
'14 971
' 326 '3965 '16 158 p2 157
l 965
'2 221 '3884 '2690 •'2 060
P
'1,152
1093
P
6 799
'6073 '18 151 '2676 '2 736

-53,759 '-27,346 '-25,342 '-7,525 '-6,811 '-4,730 '-7,283 '-6,974 '-8,359 '-10,126 '-6,744 '-2,902 '-5,570
'-9,008
'7,008 '10,779 '-1,904
'702 '2,453 '1312
'435 '2,539
'-217
'787 '6478 '3734
'-10,892
'4,950
'8,382 '-2,365
'-83 '2,082
'232 '1,933
'701
'-759
'242 '5,887 '3,014
'-14,075
'3,723 '-3,137
'-679 '1,052
'-883 '1,228
'1,414
'-189 '-2,095
'-545 '4,975 '1,390

p

-4,602
P
4599
P
4,037
P
3,087

S-l

S-2

SURVEY OF CURRENT BUSINESS

Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS

1979

1980

Annual

June 1981

1980
Apr.

May

June

July

Aug.

1981
Sept.

Oct.

Nov.

Dec.

Jan.

Feb.

Mar.

Apr.

May

GENERAL BUSINESS INDICATORS—Monthly Series
PERSONAL INCOME BY SOURCE t
Seasonally adjusted, at annual rates: t
Total personal income
bil. $..
Wage and salary disbursements, total
do....
Commodity-producing industries, total.... do....
Manufacturing
do....
Distributive industries
do
Service industries
do
Govt. and govt. enterprises
do....
Other labor income
do
Proprietors' income: $
Farm
do
Nonfarm
do...
Rental income of persons with capital
consumption adjustment
bil. $..
Dividends
. .. do
Personal interest income
do....
Transfer payments
do
Less: Personal contrib. for social insur
do....
Total nonfarm income
do
DISPOSITION OF PERSONAL INCOME *
Seasonally adjusted, at annual rates:
Total personal income
... . bil. $
Less: Personal tax and nontax payments
do....
Equals' Disposable personal income
do
Less: Personal outlays
do....
Personal consumption expenditures
do....
Durable goods
do....
Nondurable goods
do
Services
do....
Interest paid by consumers to
business
do....
Personal transfer payments to
foreigners (net)
.
do.
Equals' personal saving
do.
Personal saying as percentage of disposable
Disposable personal income in constant (1972)
dollars
bil $
Personal consumption expenditures in
constant (1972) dollars
do
Durable goods
do
Nondurable goods
do....
Services
do
Implicit price deflator for personal consumption
expenditures
index 1972 — 100
INDUSTRIAL PRODUCTION H
Federal Reserve Board Index of Quantity Output
Not Seasonally Adjusted
Total index
1967—100
By market groupings:
Products total
do
Final products
do....
Consumer goods
do
Durable consumer goods
do....
Nondurable consumer goods
do
Equipment
do....
Intermediate products
..
do.
Materials
do....
By industry groupings:
Mining and utilities
do...
Manufacturing
do
Nondurable manufactures
do....
Durable manufactures
.
do
Seasonally Adjusted
Total index
do
By market groupings:
Products total ..
.
do
Final products
do
Consumer goods
do....
Durable consumer goods
do....
Automotive products
do....
Autos and utility vehicles
do....
Autos
do....
Auto parts and allied goods
do....
Home goods . . . .
. do
Appliances, air cond., and TV
do....
Carpeting and furniture
do
Nondurable consumer goods
doClothing
do....
Consumer staples
do
Consumer foods and tobacco
do....
Nonfood staples
do....
Equipment
do
Business equipment
do....
Industrial equipment #
do....
Building and mining equip
do....
Manufacturing equipment
do....
Commercial, transit, farm eq. #
do....
Commercial equipment
do....
Transit equipment .
. doDefense and space equipment
do....
See footnotes at end of tables.




1,943.8
1,236.1
437.9
333.4
3030
2592
236.1
1186

2,160.2 2,102.1 2,114.1 2,127.1 2,161.2 2,179.4 2,205.7 2,234.3 2,257.6 2,276.6
1,343.7 1,317.8 1,320.1 1,323.2 1,326.3 1,342.4 1,356.8 1,381.7 1,400.4 1,411.2
485.2
491.1
455.4
453.7
460.0
467.7
475.8
465.4
458.8
452.5
346.2
340.9
341.0
346.7
352.5
358.8
366.2
369.9
350.7
342.6
341.7
329.4
3414
3226
323.5
3233
325.5
332.6
338.6
3289
313.7
2953
310.5
2877
290.2
294.4
298.9
301.7
305.6
2957
261.7
263.3
264.8
248.7
251.0
251.8
253.0
254.1
254.7
253.6
145.0
140.4
141.9
143.5
1338
1350
1363
1377
139.1
1371

308
100.7

234
107.2

30.5
48.6
209.6
2494
80.6
18929

31.8
54.4
256.3
2942
87.9
21126

1,943.8
302.0
16417
1,555.5
1,510.9
212.3
6022
696.3

2 160.2 2 102.1
326.6
338.5
18217 17756
1,720.4 1,670.7
1,672.8 1,623.0
211.9
196.1
6650
6757
761.8
785.2

2,114.1
330.3
1,783.8
1,667.7
1,620.3
191.7
661.3
767.3

2,127.1
334.2
1 793.0
1,683.9
1,637.1
195.5
665.7
776.0

238
102.7

233
101.0

228
101.0

224
105.1

22.0
106.3

21.9
111.4

22.2
111.5

226
111.5

22.6
111.6

2,300.7 '2,318.2 '2,340.4 '2,353.5 2,367.2
1,433.1 '1,442.8 '1,452.8 '1,457.8 1,464.2
500.5
500.3 '503.2 '503.6
505.4
375.6
377.2 '379.4 '383.3
386.8
348.4
352.6 '354.8 '357.1
358.7
326.5 '327.9
318.3
322.6
329.9
270.1
265.9 '267.2 '268.4 '269.2
149.5
146.6
148.0
150.9
151.6

19.9
112.8

'18.7
112.6

'18.2
'114.2

'20.4
'113.4

22.4
113.1

33.1
32.4
32.5
32.5
32.7
32.9
33.3
31.6
31.8
32.0
32.2
32.3
31.3
31.6
55.9
56.7
58.3
59.4
53.7
54.7
54.7
55.2
55.4
55.5
57.4
58.2
60.2
54.1
261.7
269.4
281.8
289.1 '295.2 '298.8
301.6
248.3
253.7
258.9
260.4
263.2
265.6
274.1
314.7
309.7
309.0
313.4
313.8
313.2
318.4
318.4 '321.9 '322.4
323.6
2759
2814
2846
91.4
91.9
102.3 '102.6 '102.8
102.9
87.0
88.3
89.1
90.4
101.9
85.6
85.8
86.2
20547 20670 2 080.3 2 114.5 2,132.7 2,158.7 2,186.8 2,209.7 2,228.5 2,254.8 '2,273.2 '2,295.4 '2,305.9 2,317.2

2,161.2 2,179.4 2,205.7
341.7
346.5
336.3
1,824.9 1,837.7 1,859.2
1,714.9 1,730.3 1,742.4
1,667.9 1,683.4 1,695.2
210.5
205.2
210.6
667.4
674.4
680.9
798.4
809.1
789.9

2,234.3
354.1
1,880.2
1,778.1
1,729.9
222.3
690.5
817.1

2,257.6
359.9
1,897.7
1,800.3
1,752.0
223.4
706.8
821.9

2,276.6 2,300.7 '2,318.2 '2,340.4 '2,353.5
363.5
371.6 '375.1 '378.1
369.3
1,913.1 1,931.4 '1,946.6 '1,965.4 '1,975.4
'1,873.2 '1,872.4
1,819.7 '1,847.8
'1,855.6
1,771.0 rl,799.3 '1,806.9 '1,824.1 '1,822.8
224.2
236.6
237.7 '240.5 '225.1
•721.5
'726.9 '729.6 '734.4
713.1
r
833.7
841.2 '842.4 '853.9 '863.3

2,367.2
381.8
1,985.4
1,884.7
1,834.7
225.3
738.2
871.2

43.7

46.4

46.7

46.3

45.8

45.9

45.9

46.2

46.5

46.7

47.1

47.4

47.7

48.2

'48.6

48.9

10
862

1.2
101.3

1.0
1049

1.0
116.2

1.0
109.1

1.0
110.0

1.0
107.4

1.0
116.8

1.6
102.1

1.6
97.4

1.6
93.3

1.1
r
83.6

'1.0
'91.0

'1.0
'92.2

'1.0
'102.9

1.1
100.7

52

56

58

62

62

60

61

58

56

51

49

'46

'49

50

1 Oil 5

10184

10091 10085 10070

10186

1,018 2

9309
1466
354.6
4296

9351
1358
358.4
4409

9224
1279
358.1
4364

9160
124.6
355.3
4361

9195
126.1
356.3
4371

931 1
134.8
355.4
440.8

9327
133.6
356.2
4428

9288
129.3
353.2
446.3

9418
139.1
356.0
446.7

9476
139.0
362.4
446.2

951.1
139.2
362.8
449.1

'959.9
146.0
'364.8
'449.1

'959.8
146.8
'365.5
'447.6

'960.9
'147.7
'363.1
'450.1

955.5
137.5
366.3
451.7

1623

1789

1760

176.9

178.0

179.1

180.5

182.5

183.7

184.9

186.2

187.4

'188.3

'189.8

190.8

152.5

147.1

1481

143.5

145.0

137.2

142.9

148.6

150.2

149.5

146.3

146.9

151.7

'153.1

"152.1

e

r

46

1 018.6 1 023.6 1 026.4 1,027.4 '1,030.4 '1,034.1 '1,035.3 1,035.4

!52.4

1500
147.2
1508
155.8
1488
142.2
1605
156.4

1468
145.4
1455
136.5
1491
145.1
151.9
147.7

1450
143.7
1436
140.0
1450
143.9
1497
152.9

1422
141.2
139.9
130.4
143.6
143.0
145.9
145.6

1462
145.6
145.9
132.9
151.1
145.2
148.4
143.0

1408
139.7
138.3
115.4
147.5
141.6
144.8
131.7

1463
144.7
1465
121.4
1566
142.1
1522
137.8

152.5
151.2
154.2
139.0
160.3
147.1
157.0
142.7

151.8
150.4
152.7
148.4
154.3
147.2
157.3
147.6

148.7
147.3
147.0
144.5
148.0
147.7
153.8
150.7

144.2
142.7
139.3
132.2
142.2
147.3
149.6
149.7

144.3
143.3
141.3
133.6
144.3
146.1
148.2
150.9

'149.1
'147.9
'146.5
142.1
'148.2
149.9
'153.4
'155.7

'150.5
'149.3
'148.3
'148.3
'148.3
150.6
'154.9
'157.1

P
150.0
P
148.6
P

147.6
"148.4
"147.4
"150.0
P
155.0
"155.5

"150.6
e
!49.3
•147.7
•149.6
•147.0
•151.4
•155.4
•155.3

144.7
1536
164.0
1464

150.4
1466
161.1
1366

145.0
1485
161.3
1397

143.1
1436
157.1
134.2

149.1
1444
160.1
133.5

151.9
1351
151.0
124.1

1571
1413
161.2
1276

152.3
1480
167.5
134.6

146.1
1506
167.8
138.7

149.4
1495
163.9
139.5

154.1
145.1
156.8
137.1

159.7
145.2
157.3
136.7

'159.0
150.7
'164.0
141.5

'155.5
'153.0
'165.4
144.5

"147.0
"152.9
"165.7
"144.0

•145.6
•153.2
•165.8
•144.6

1525

1471

1483

1440

1415

1404

1418

1441

1469

149.4

151.0

151.7

151.5

152.2

"152.3

•152.8

1500
1472
150.8
155.8
167.7
154.3
136.7
201.5
1492
127.4
1730
1488
131.9
1535
145.0
163.4
1422
171.3
152.2
206.3
130.3
193.4
228.1
151.6
93.4

1468
145 4
145.5
136.5
132.7
109.9
103.4
190.4
138.7
117.1
1550
1491
126.8
1553
147.0
165.0
1451
173.3
157.0
241.3
128.5
192.1
237.5
139.4
97.8

1466
1454
145.3
136.3
126.3
102.3
97.1
187.2
1420
114.8
1658
1488
128.7
1544
146.2
164.0
1456
174.2
159.3
239.5
131.9
191.5
235.6
143.0
97.6

1437
143 1
142.4
128.8
118.5
92.6
88.4
184.0
134.6
102.8
1542
1477
127.9
153.2
146.1
161.5
1440
171.9
157.8
242.2
129.5
188.2
232.0
136.3
97.2

1425
1423
142.1
128.2
121.6
97.1
95.7
183.7
132.0
105.6
1467
1476
126.7
1534
146.2
161.7
1426
169.8
155.2
241.0
126.1
186.7
228.8
138.0
96.8

1428
1424
142.0
128.3
129.2
106.4
105.2
186.9
127.7
102.3
136 1
1474
122.5
1543
146.4
163.6
1429
170.1
154.8
244.4
126.0
187.8
229.0
140.9
97.2

1438
1428
142.7
128.6
121.5
94.1
91.3
191.1
1326
114.2
141 1
1483
123.6
155 1
146.0
165.7
1429
170.3
154.5
243.6
124.4
188.4
233.6
1384
96.9

145.3
1439
144.3
132.7
130.6
105.5
98.0
194.2
134.0
116.3
1461
1489
122.1
1563
147.0
167.1
1432
170.5
154.2
243.4
123.9
189.4
237.2
133.8
97.4

147.2
1458
146.6
139.6
141.8
120.2
110.7
196.8
138.3
123.5
1502
1494
125.1
1561
147.7
165.9
1448
172.3
154.4
244.3
123.9
192.8
242.0
135.0
98.5

148.7
1475
148.0
142.9
145.3
124.3
114.3
198.6
141.5
128.4
1549
150.1
127.3
1564
148.0
166.2
1467
174.5
157.1
250.1
126.4
194.7
244.0
136.6
99.8

149.9
1483
147.7
141.3
139.1
115.9
105.3
198.0
142.6
126.8
1563
1502
123.7
1575
148.9
167.6
1491
177.8
160.7
255.7
130.6
197.6
248.3
137.9
100.7

150.3
1483
147.2
138.8
127.1
99.8
90.0
196.6
145.4
131.2
156.8
150.5
122.3
158.3
148.7
169.5
1498
178.9
163.8
265.9
131.1
196.3
249.6
131.7
101.0

'149.8
1479
'146.9
'138.9
'129.0
103.7
96.0
'193.4
144.4
124.2
159.9
'150.1
'119.9
'158.5
'149.3
'169.1
'1491
'178.3
'165.2
'272.2
'131.0
193.4
250.9
'122.9
'100.2

'150.8
'1493
'148.2
'143.3
'139.4
'116.7
108.3
'196.9
145.5
'127.7
'1593
'150.2
120.0
'1585
'149.7
'168.8
'1508
'180.5
'167.3
'279.6
'132.0
'195.8
'253.4
'1264
100.8

"151.6
"150.4
"149.3
"144.0
"142.5
"120.1
"113.2
"199.4
"144.9
"121.5
"163.1
"151.3

•152.1
•151 1
•150.0
•146.9
•149.6
•129.1
•120.8
•201.6
•145.4
•119.4

"159.6
"150.4
"170.4
"1519
"182.2
"168.7
"285.2
"132.5
"197.8
"253.9
"129.4
"101.0

•1593

•151.2

•170.1
•1527
•183.3
•169.8
•286.8
•133.4
•198.9
•254.9
•130.9
•101.4

SURVEY OF CURRENT BUSINESS

June 1981
1979

Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS

1980

1981

1980
Apr.

Annual

S-3

May

June

July

Aug.

Sept.

Oct.

Nov.

Dec.

Jan.

Feb.

Mar.

Apr.

May

•1556
"1454

GENERAL BUSINESS INDICATORS—Continued
INDUSTRIAL PRODUCTION ^—Continued
Seasonally Adjusted— Continued
By market groupings—Continued
Intermediate products
1967—100..
Construction supplies . .
do
Business supplies
do....
Materials
do....
Durable goods materials #
do....
Durable consumer parts
do....
Equipment parts
do
Nondurable goods materials #
do....
Textile, paper, and chemical
do....
Energy materials
do ..
By industry groupings:
Mining and utilities
do
Mining
do....
Metal mining
do
Coal
do...
Oil and gas extraction #
do
Crude oil
do
Natural gas
do
Stone and earth minerals
do....
Utilities
do....
Electric
do
Manufacturing .
do
Nondurable manufactures
do....
Foods
do
Tobacco products
do
Textile mill products
do....
Apparel products
do
Paper and products
do....
Printing and publishing
do
Chemicals and products .... .
do
Petroleum products
do
Rubber and plastics products
do....
Leather and products
do....
Durable manufactures
do....
Ordnance pvt and govt --,
do
Lumber and products
do....
Furniture and fixtures
do....
Clay, glass, and stone products
do....
Primary metals
do ...
Iron and steel
do
Nonferrous metals
do. .
Fabricated metal products
do....
Nonelectrical machinery .
do
Electrical machinery
do....
Transportation equipment
do....
Motor vehicles and parts
do
Instruments
do....
BUSINESS SALES
Mfg. and trade sales (unadj.), total $
mil. $..
Mfg. and trade sales (seas, adj.), total $
do....
Manufacturing, total t
do....
Durable goods industries
do....
Nondurable goods industries
do
Retail trade total §
do
Durable goods stores
do....
Nondurable goods stores
do....
Merchant wholesalers, total @
do. ..
Durable goods establishments
do....
Nondurable goods establishments
do....
Mfg. and trade sales in constant (1972) dollars
(seas adj ) total *
bil $
Manufacturing *
do....
Retail trade *
do....
Merchant wholesalers * .. ..
do
BUSINESS INVENTORIES
Mfg. and trade inventories, book value, end of year
or month (unadj.), total $
mil. $..
Mfg. and trade inventories, book value, end of year
or month (seas, adj.), total $
mil. $..
Manufacturing total "I" . ..
do
Durable goods industries
do....
Nondurable goods industries
do
Retail trade total §
do
Durable goods stores
do....
Nondurable goods stores
do
Merchant wholesalers, total @
do....
Durable goods establishments
do....
Nondurable goods establishments
do....
Mfg. and trade inventories in constant(1972)dollars,
end of year or month(seas.adj.),total*
bil. $..
Manufacturing *
do
Retail trade *
do....
Merchant wholesalers •
do....
See footnotes at end of tables.




160.5
1580
1631
1564
157.8
137.1
1899
175.9
1837
1289

151.9
1407
1629
1477
143.1
109.0
1873
170.7
177.0
1300

150.8
1394
162.0
1510
148.2
110.6
1958
173.2
180.7
1301

1462
1330
1594
1443
139.8
100.1
1908
165.2
1715
1296

143.5
1285
1584
1400
133.8
96.0
1825
159'.6
1634
1304

144.5
1286
1604
1365
129.0
93.9
1776
156.2
1585
1304

1476
1331
1619
1386
131.3
98.1
1763
159.8
1632
1300

1506
1374
1636
1424
134.2
104.2
1760
169.7
1751
1284

152.4
1405
1643
1464
140.4
110.8
1785
173.7
1805
1272

153.5
1428
1642
1505
146.6
115.5
1840
174.1
1810
1309

1561
144 g
1675
1526
148.4
116.3
1858
178.8
1865
1305

157.7
1474
1680
1538
150.2
116.2
1892
180.2
1877
1302

'156.9
1473
'1665
'1542
'150.7
'115.9
188 9
'179.6
1874
'1313

'156.5
1476
'1652
'1544
'152.4
'119.9
191 5
'177.6
'1853
'1308

"156.0
P
1464
"1655
P
1534
"152.4
"122.1
P
192 1
"179.0
"1870
"124 2

144 7
1255
1270
1356
121 7
946
1092
137.6
1660
1858
1536
164.0
1475
1178
1450
1344
1510
1369
2118
1439
272.2
717
1464
752
1369
1615
163.9
1213
1132
1358
148.5
1637
1750
135.4
1599
1749

1504
1329
1091
1467
1338
947
111 0
131.7
1699
1897
1466
161.1
1492
1198
1368
1286
1510
1396
2067
1349
255.8
70 1
1366
779
1193
1500
146.5
1016
917
1192
135.0
1628
1727
116.8
1188
1710

150 1
1331
1235
1434
132 5
973
1122
133.1
169 1
1879
1479
161.6
1478
121 9
1399
1313
1482
1365
2091
1374
261.8
699
1384
775
1052
157 1
148.8
1064
974
1220
141.4
1632
1770
115.1
1147
1738

1496
1334
1208
1450
1339
961
111 6
128.1
1677
1860
1434
158'.0
1495
1162
137 1
1286
1457
1355
1992
1330
2481
701
1333
77 9
1045
1495
140.8
961
844
1164
133.2
1621
1714
109.8
1059
1710

150 1
1329
1200
1500
133 2
955
107 1
123.9
1693
1887
1403
155!3
1490
1139
1336
1272
1462
1354
191 1
131 3
242.9
685
1299
775
1097
143 1
134.5
904
754
1181
126.1
1583
1666
110.0
1067
1692

150 1
1306
83 1
1498
134 3
953
1060
123.7
1718
1924
139 1
154J
1489
1196
1325
121 5
1436
1386
1903
1305
242.5
678
1283
77 1
1128
1386
134.2
817
68 1
1073
123.8
1585
1650
110.7
1079
1675

1505
1296
71 2
1549
1336
933
105 1
123.5
1738
1954
1406
156.9
1483
1174
1326
1238
1471
1403
1978
126 7
2459
677
1294
772
1217
141 1
135.7
860
753
1045
125.8
1588
1667
108.3
1044
1676

1505
1305
73 1
1489
134 7
929
1095
128.2
1727
1939
1434
160.3
1486
119 1
1330
1267
1523
1403
2068
1305
2531
672
1317
77 1
1226
1448
141.4
901
798
107 1
129.0
159 1
1675
112.9
1134
1674

1502
1321
908
1457
1354
925
1104
129.0
1704
1903
1464
161.8
1494
123 1
1338
1275
1530
141 5
209 1
130 1
259.2
702
1358
79 1
1222
1472
145.2
1006
933
113 1
132.8
161 1
1700
118.8
124 2
1696

1528
1360
1072
1516
1374
922
111 9
133.0
171 5
191 5
149 1
163.3
1505
125 1
1350
1280
1544
1427
2120
131 2
2596
712
1393
796
1249
1472
147.8
1134
107 4
1232
134.1
1634
1730
121.7
1290
1699

1540
1393
1222
1553
139 1
934
1144
137.8
1703
1903
1506
165.0
1507
1188
1339
125 1
1568
1449
2188
137 5
2592
678
1406
795
1220
1490
151.4
112 1
1035
1272
137.4
167 5
1749

155 2
141 1
1263
1503
141 5
937
1169
140.0
1710
191 1
151 1
165.2
1500
1229
1338
1259
1572
1455
2192
1373
258.2
689
1414
789
1263
1505
154.9
1139
1080
1249
137.6
1689
1779
117.3
1192
1740

'1552
'1433
'133 7
1589
'1427
'950
1087
'138.9
'1685
'1874
'151 0
'166.1
'151 5
'123 1
'1355
'1240
1567
'1458
2209
'1343
'2640
694
'1407
786
1263
1530
'154.8
'1142
107 8
'1262
139.1
'169 1
1746
'114.9
1175
1713

'1558
'1438
'131 1
151 1
1450
'957

"1526
"1362
"124 9
"758
"147 1
"963

'138.4
1693
1886
'151 7
'165.5
'1522
1173
'1340
1236
'1569
'144 1
'2193
'131 4
'2669
'691
'1422
'783
'1254
'1530
'152.9
'1140
'1063
'1280
'141.3
'1707
'1771
'119.3
'1274
'1699

"135.3
"1708
"190 7
"1523
"166.1
"1530

3,461,382
3,461,382
1
1,692,001
887 777
804 224
*886 047
308,156
577,891
'915 163
410,079
505,084

3,731,456
'3,731,456
4798539
902723
895 816
1956 655
297926
658,729
1
1043 886
438 439
605447

300,289
295,277
143596
72207
71 389
'76 404
'23 Oil
'53,393
81245
34561
46684

300,850
292,478
141 515
69443
72072
'75 975
'22 544
'53,431
80471
33688
46783

303,481
294,203
141 573
69056
72517
'77 843
'23 589
'54,254
81714
34793
46921

294,795
304,154
145 678
72544
73 134
'79 491
'25 071
'54,420
85810
35196
50614

306,603
308,019
146 643
72057
74586
'79 829
'24 593
'55,236
86889
35353
51 536

321,031
318,321
152 764
76571
76 193
'80620
'25094
'55,526
90223
36937
53286

338,522
325,838
156 697
79497
77 200
'81 552
'25293
'56,259
93282
38110
55172

151 8
71 1
442
364

1497
697
439
36 1

150 1
695
444
362

1526
709
452
366

152 1
702
454
365

1560
733
454
373

1

1579
74.2
454
383

120.6
1263
1721

1584
741
457
386

1594
74.0
467
386

1589
74.1
47 1
377

'1610
•74.4
'468
'398

"1562
"1427
"2205
"1302
"2727
"675
"1427
"788
"1250
"1555
"151.3
"1123
"104 8
"1222
"141.6
"171 9
"1784
"120.4
"1298
"1702

1582
74.0
45.9
383

423 878

453 239 448 552 448 959 446629 446 492 447 153 450 356 458 727 463 170 453 239 463 147 470 687 '476 315 477,850

426,796
228258
151,689
76569
108862
53,087
55775
93,817
60,291
33,526

461 716
244 493
161907
82586
111 694
51853
59841
105,529
67938
37591

445 528
242 540
159 877
82663
'109 745
'52 282
'57 462
96,654
62996
33658

445801
243 402
160607
82795
'109 498
'51648
'57 851
97351
63553
33798

447 031
243630
160404
83226
'109438
'51543
'57 985
98328
64025
34303

2660
1481
652
52.8

2652
1477
649
52.7

2647
1472
647
52.9

449 510
244 105
160875
83230
'110 003
'51 249
'58 754
99618
63938
35680

2648
1472
648
52.8

•1525
•1357
•71 1
•1476

•1713
•191 2
•1529
•166.6

"135 1

324,830 343,565 319,367 326,486 '355,809 350,951
328,983 339,357 345,578 346,446 '346,581 346,147
157 722 159 323 161 148 161 620 '162 487 162 267
79741 80027 80259 81 078 '82 051 82835
77981 79296 80889 80542 '80 436 79432
'82 764 83443 85463 86810 '87608 85745
'26007 25983 27075 28328 '28429 26273
'56,757 57,460 58,388 58,482 '59,179 59,472
93901 96591 98967 98016 '96486 98135
38799 39403 40370 41511 '39,907 40,597
55 102 57 188 58597 56505 '56 579 57538

1580
739
459
382

•1538
•153.0
•123.2
•1932
•180.0
•1883
•1235

451 951
243 517
161 081
82436
'110283
'51 675
'58608
101 920
65387
36533

454566
243 615
160691
82924
'111711
'51738
'59 972
102 953
65461
37492

456 532
242 876
160 137
82739
'113 106
'52006
'61 040
104 293
65951
38342

457 986
244090
160977
83 113
'112639
'52 209
'60430
105 203
66955
38248

461 716
244 493
161907
82586
111 694
51*853
59841
105529
67938
37591

465 107
248 408
164938
83470
111 790
52*234
59556
104909
67319
37590

470 804
251 231
166 278
84953
113507
52374
61 133
106066
68482
37584

'472,393
'253450
'166830
'86 620
'113 404
'51 791
'61 613
'105 539
'68571
'36968

474,933
254803
167,884
86919
114 120
52467
61653
106,010
69562
36448

2644
1464
647
53.3

2642
1459
651
53.3

2643
1452
657
53.5

264 1
145 1
654
53.6

2630
1450
646
53.4

'2628
'1455
643
'52.9

'2629
'1458
'639
53.1

'2626
1461
635
'53.0

2630
1461
638
53.1

•1567
•143 1
•1286
•1435
•798

•111 0
•142.1
•1727
•1796
•123.5
•1358
•170 7

SURVEY OF CURRENT BUSINESS

S-4
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS

1979

1980

1980
Apr.

Annual

June 1981

May

June

July

Aug.

1981
Sept.

Oct.

Nov.

Dec.

Jan.

Feb.

Mar.

Apr.

May

GENERAL BUSINESS INDICATORS—Continued
BUSINESS INVENTORY-SALES RATIOS
Manufacturing and trade total $
ratio..
Manufacturing total f
do....
Durable goods industries
do
Materials and supplies
.. do .
Work in process
do
Finished goods
do. ..

1.41
1.52
191
0.61
082
0.47
108
042
0.17
049
145
2.08
1 11
1.17
164
0.77

1.44
1.61
2.12
0.66
095
0.51
1 10
0.43
0.17
050
1.41
2.09
1.10
1.16
171
0.74

1.51
1.69
221
0.71
098
0.53
1 15
045
0.18
052
1.47
2.27
108
1.19
182
0.72

Materials and supplies
do
Work in process
do....
Finished goods
do
Retail trade total §
.
do
Durable goods stores
do....
Nondurable goods stores
do
Merchant wholesalers total @
.. do....
Durable goods establishments
do
Nondurable goods establishments
do. .
Manufacturing and trade in constant (1972) dollars,
175
total *
do
2.08
Manufacturing *
.. do .
147
Retail trade *
do
1.45
Merchant wholesalers * .
....
...
do
MANUFACTURERS' SALES, INVENTORIES,
AND ORDERS
Manufacturers' export sales:
Durable goods industries:
82988 '97 078
8047
Unadjusted total
mil $
7,842
Seasonally adj total
do...
Shipments (not seas adj ) total "I"
do 1 692 001 1 798 539 146 692
887 777 902 723 74464
Durable goods industries total
do
49509
4010
48 185
Primary metals
do.... 140,122 137,984 12,133
68663
64447
5681
109 463 111 466
9334
Fabricated metal products
do
157 695 169 318 13 768
9,909
Electrical machinery
.. do . 110,713 123,390
194 461 179 187 14959
Transportation equipment
do
8724
129 364 106 030
42,026
3,217
36,253
Instruments and related products
do....
Nondurable goods industries, total
do.... 804,224 895,816 72,228
Food and kindred products
..
do . 234,828 252 071 19,035
13,781
1,175
12,173
Tobacco products
do....
48,780
46,992
4,193
Textile mill products
...
. do .
70,991
5,921
66,033
Paper and allied products
...
.. do. .
149 181 162 390 13991
Chemical and allied products
do
134 041 175 533 14,116
Petroleum and coal products
.
do
3695
44742
43995
143 596
Shipments (seas adj ) total 1"
do
By industry group:
72207
Durable goods industries total #
do
Stone clay, and glass products
do....
3,944
11333
Primary metals
...
do
5,385
Blast furnaces, steel mills
do....
9 134
Fabricated metal products
do
13374
Machinery except electrical
do
Electrical machinery
do
9878
14276
Transportation equipment
do
8,232
Motor vehicles and parts
.. do .
3262
Instruments and related products
do
71389
Nondurable goods industries total $
do
19,104
Food and kindred products
. do .
1203
Tobacco products
do
4,178
Textile mill products
do....
5834
Paper and allied products
. ...
do
13031
Chemicals and allied products
do
14,213
Petroleum and coal products
do. ..
3519
Rubber and plastics products
do
By market category: t
Home goods and apparel
.. do. . 11 125,723 1133 379 10,671
Consumer staples
..
do
298 916 *324 748 25070
1236 754 11263 897 21 107
Equipment and defense prod exc auto
do
*151
020
127 266 9784
Automotive eouipment
.
...
do
1
148 806 447 692 11643
Construction materials and supplies
do
'730 782 X801 557 65321
Other materials and supplies
do
Supplementary series:
155 938 158 835
4724
Household durables
do
Capital goods industries
.... ...
do
*267 807 X296 266 23,911
1232 315 1254 381 20625
Nondefense
do
Defense
.. do . *35,492 '41 845 3,286
Inventories, end of year or month: t
227 658 243 730 243 705
Book value (unadjusted) total
do
Durable goods industries total..
...
do
150 321 160 308 161 306
83422 82399
Nondurable goods industries total
do
77337
228 258 244 493 242 540
Book value (seasonally adjusted) total "t"
do
By industry group:
151 689 161 907 159 877
Durable goods industries total $
do
5643
6*067
6073
Stone clay and glass products .
do
19,803
20,285 20,789
Primary metals
.. do .
10834
10884
11472
Blast furnaces steel mills
do
19402
19235 19747
Fabricated metal products
do
Machinery except electrical
...
do
36624
38352 38624
22,135 21,999
20,598
Electrical machinery
do....
Transportation equipment
do
35229 32121
29916
7287
8,019
8012
Motor vehicles and parts
do .
8.438
Instruments and related products
do....
7.765
8.296
at end of tables.
Digitized See
for footnotes
FRASER



1.52
1.72
2.31
0.73
1.03
0.55
1 15
0.45
0.18
0.52
1.44
2.29
1.08
1.21
1.89
0.72

1.52
1.72
2.32
0.73
1.04
0.56
1 15
045
0.18
053
1.41
2.18
1.07
1.20
184
0.73

1.48
1.68
2.22
0.69
0.94
0.53
1 14
0.44
0.17
0.52
1.38
2.04
1.08
1.16
1.82
0.70

1.47
1.66
2.24
0.68
1.01
0.54
1 11
0.42
0.17
0.51
1.38
2.10
1.06
1.17
1.85
0.71

1.43
1.59
2.10
0.64
0.96
0.50
109
0.42
0.17
0.50
1.39
2.06
1.08
1.14
1.77
0.70

1.40
1.55
2.02
0.61
0.92
0.49
107
0.41
0.16
0.49
1.39
2.06
1.09
1.12
1.73
0.69

1.39
1.55
2.02
0.61
0.92
0.48
1.07
0.41
0.16
0.49
1.36
2.00
1.07
1.12
1.73
0.69

1.37
1.53
202
0.62
0.93
0.48
104
0.41
0.16
0.47
1.34
2.00
1.04
1.09
1.72
0.66

1.35
1.54
2.06
0.63
0.95
0.47
103
0.41
0.16
0.46
1.31
1.93
1.02
1.06
1.67
0.64

1.36
1.55
2.05
0.64
0.94
0.47
105
0.41
0.17
0.48
1.31
1.85
1.05
1.08
1.65
0.67

1.36
1.56
'2.03
0.62
'0.94
0.47
108
'0.42
0.17
0.49
'1.29
'1.82
1.04
1.09
'1.72
0.65

1.37
1.57
2.03
0.62
0.93
0.47
109
0.43
0.17
0.50
1.33
2.00
1.04
1.08
1.71
0.63

1.77
2.12
148
1.46

176
2.12
146
1.46

1.74
2.08
1.44
1.45

1.74
2.08
1.43
1.46

1.69
1.99
1.43
1.43

1.67
1.96
1.45
1.40

1.67
1.96
1.43
1.41

1.66
1.96
1.41
1.38

1.65
1.97
1.38
1.37

1.66
1.97
1.36
1.41

1.63
'1.97
1.36
1.33

1.66
1.97
1.39
1.39

9,885
9,025
9,216 '8,772 '9,578 '7,540 '9,900 '10,253
7,555
7,276
7480
8,278
9,615
9,270
8,941 '8,635 '9,181 '8,571 '9,703 '9,598
7,315
8,521
7,983
7,543
143 186 149 249 134 602 144,426 158 671 162,189 156,659 152,455 148,161 162,524 169,884 165,639
71296 74880 65260 69,249 79,921 82,721 78,679 76,053 72,215 80,959 87,384 85,393
4331
4686
4590
4640
3759
4225
4623
3954
4249
3968
3946
4208
10,985 10,674
9,415 10,253 11,420 11,777 11,515 11,305 11,663 12,588 12,899 12,760
5733
5819
5926
6571
6591
5217
5603
6279
4 117
4531
5002 *4740
9,742
9796 10,310
9,573
8,846
9,891 10,557 10,414
8082
8984
8719
9095
13 714 14 999 12680 12829 14903 14825 13997 14922 14 153 15560 16860 15955
9,784 11,061 11,603 11,182
8,971 10,062 10,955 11,229 10,952 10,375
9,838 10,500
13922 14309 12453 11,759 16,079 17,662 16,538 15,011 13,895 15,935 18,533 18,247
9371 11 191 10144
8568
9675 11 135 11291
6842
6446
8487
7772
8059
3,807
3,771
3,759
3,324
3,676
3,940
3,619
3,091
3,714
3,318
3,574
3,541
71,890 74,369 69,342 75,177 78,750 79,468 77,980 76,402 75,946 81,565 82,500 80,246
20,013 20,864 19,843 21,897 22,790 22,672 22,427 22,204 20,963 22,271 22,517 21,826
1,137
1,206
1,146
1,169
1,172
1,220
1,187
1,216
1,290
1,281
1,145
1,065
4,211
4,138
4,317
4,652
4,067
3,397
3,944
4,303
3,824
3,886
4,451
4,190
5,926
6,241
6,160
5,824
6,448
6,575
6,441
5,521
5,973
5,720
5,742
6,081
13150 13263 11823 12758 14,247 13,977 13,359 14,301 14,146 15,352 16,539 15,621
14485 14,829 14,104 14,396 14,440 14,877 15,565 15,748 16,844 17,069 16,095 15,806
3694
3,557
3826
3330
3,699
3281
3775
3992
3239
3834
3404
3603
141 515 141 573 145 678 146 643 152 764 156 697 157 722 159 323 161 148 161,620 '162,487 162,267
79,741
4,383
12,284
6,286
9,944
14,650
10,813
16,117
9,679
3,629
77981
22,115
1,171
4,060
6,005
14,121
15,590
3,810

80,027
4,567
12,586
6,635
10233
14,729
10,384
15,837
9,607
3,735
79,296
22,378
1,264

6,152
13731
14,365
3,724

79,497
4,285
11,797
5,776
9,901
14,749
10,747
16,433
9,936
3,620
77,200
21,825
1,231
4,027
6,055
14,161
15,038
3,796

10,655
28,159
21267
10,472
11710
64,380

11,186
28,573
23166
10,635
12463
66,741

11,649
27,962
22765
11,839
13,266
69,216

4699
23,693
20369
3,324

4978
25,680
21882
3,798

5,212
25,618
21,842
3,776

69443
3,808
10268
4,675
8441
13538
10048
13299
7,259
3334
72072
20,116
1 129
3,992
5649
12701
14,751
3311

69056
3,798
9791
4,293
8406
13,822
9893
12,958
7,231
3,348
72517
20,589
1012
3,954
5,756
12502
14,760
3,406

72544
4,063
10258
4,352
8659
13,945
10067
14,932
8,856
3375
73134
20,898
1205
4,027
5,845
12869
13,960
3611

72,057
3,930
10,604
4,642
8801
13,560
10283
14,304
8,641
3,536
74586
22,110
1,192
3,938
5,794
13099
14,314
3,753

76,571
4,288
11,322
5,227
9432
14,594
10392
15,339
8,746
3,552
76 193
22,178
1,145

10,566
26151
21681
8758
10793
63566

10,724
26708
21510
8,767
11 110
62754

10,949
27 123
21867
10,332
11819
63339

4616
24202
20762
3440

4588
24,063
20628
3,435

4824
24,496
21043
3,453

6,201
15,589
15,361
3,574

80,259
4,536
12,530
6,205
9818
15,562
10681
15,342
9,061
3,691
80889
22,278
1,196
4,273
6,191
15,286
16,964
3,664

81,078
4,614
12,493
6,217
10,097
15,248
10,917
15,534
9,347
3,809
80,542
22,003
1,259
4,383
6,325
15,020
16,744
3,506

'82,051
'4,505
'11,769
'5,841
'10,244
'15,509
'11,159
'16,937
'9,891
'3,856
'80,436
'21,905
'1,197
'4,370
'6,389
'15,431
'16,397
'3,472

82,835
4,610
11,934
6,247
10,184
15,514
11,176
17,376
10,652
3,667
79,432
21,901
1,249
4,434
6,346
14,682
15,912
3,649

11,406
27,911
22894
11,599
13,370
70,542

11,251
29,038
22771
11,478
13613
71,172

11,682
28,547
23,442
10,969
13703
72,805

12,048
28,444
23 115
11,347
13685
72,981

'11,898
'28,141
'24,545
'11,753
'13,643
'72,507

11,903
28,184
24030
12,592
13633
71,925

4,998
25,716
21,858
3,858

5,009
25,498
21772
3,726

5,149
26,129
22,443
3,686

5,374 '5,359
25,856 '27,224
21,937 '22,984
3,919 '4,330

5,465
26,767
22,765
4,002

244 901 243 494 242 990 242 763 241 441 241,622 242,730 243,730 249,554 252,843 '254,667 255909
162 275 161,087 160 646 160,807 159,177 158,497 159,260 160,308 164,833 167,426 '168,437 169,340
82626 82407 82344 81956 82264 83125 83470 83422 84721 85417 '86230 86569
243 402 243 630 244 105 243 517 243 615 242 876 244090 244 493 248,408 251,231 '253,450 254 803
160 607 160 404 160 875 161 081 160 691 160 137 160 977 161907 164 938 166 278
5,994
5,920
5,976
6,067
6,128
6,272
6089
6 141
6079
5,993
21,979 20,884 20,841 20,588 20,187 20,055 20,148 20,285 21,023 21,434
11726 11751 11539 11,423 11,045 10,850 10,854 10,884 11,208 11,489
19816 19451 19134 18980 18863 18,592 18,917 19235 19,508 19,441
39079 38940 39339 39,255 39,107 38,582 38,691 38,352 38,637 38,865
21,924 21,861 22,079 22,012 22,095 22,140 22,107 22,135 22,567 22,844
32202 32688 32951 33,505 33950 34,290 34,541 35,229 36,375 36,629
7,167
7,401
7,287
7,366
7,238
7,264
7,070
7,338
7775
7,485
8.290
8.353
8.448
8.498
8.556
8.425
8.404
8.438
8.351
8.393

'166 830 167 884
6,337
'6,355
'21,648 21,627
'11,519 11,389
'19,315 19198
'38,909 39,271
'22,833 23,338
'36,855 36,908
'7,354
7,256
'8.607
8.769

;••

Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS

MANUFACTURERS' SALES, INVENTORIES,
AND ORDERS t— Continued
Inventories, end of year or month t—Continued
Book value (seasonally adjusted) t—Continued
By industry group—Continued
Durable goods industries—Continued
By stage of fabrication: t
Materials and supplies
mil. $.
Primary metals
do...
Machinery, except electrical
do...
Electrical machinery
do...
Transportation equipment
do...
Work in process #
do
Primary metals
do
Machinery, except electrical
do....
Electrical machinery
do....
Transportation equipment
do....
Finished goods #
do .
Primary metals
do....
Machinery, except electrical
do....
Electrical machinery
do....
Transportation equipment
do....
Nondurable goods industries, total #
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....
By market category: t
Home goods and apparel
mil. $..
Consumer staples
do
Equip, and defense prod., exc. auto
do....
Automotive equipment
do....
Construction materials and supplies
do....
Other materials and supplies
do....
Supplementary series:
Household durables
do
Capital goods industries
do....
Nondefense
do
Defense
do
New orders, net (not seas, adj.), total t
do....
Durable goods industries total
do
Nondurable goods industries, total
,
do....
New orders, net (seas, adj.), total t—
do....
By industry group:
Durable goods industries, total
do....
Primary metals
do....
Blast furnaces, steel mills
do....
Nonferrous and other primary met
do....
Fabricated metal products
do....
Machinery, except electrical
do....
Electrical machinery
do
Transportation equipment
do....
Aircraft, missiles, and parts
do....
Nondurable goods industries, total
do....
Industries with unfilled orders $
do....
Industries without unfilled orders If
do....
By market category: t
Home goods and apparel
do....
Consumer staples
do....
Equip, and defense prod., excl. auto
do....
Automotive equipment
do..
Construction materials and supplies
do....
Other materials and supplies
do....
Supplementary series:
Household durables
do
Capital goods industries
do
Nondefense
do ..
Defense
do
Unfilled orders, end of year or month (unadjusted),
total t
mil $
Durable goods industries, total
do....
Nondur. goods ind. with unfilled orders $
do....
Unfilled orders, end of year or month (seasonally
adjusted) total t
mil. $..
By industry group:
Durable goods industries, total #
do....
Primary metals
do
Blast furnaces steel mills
do .
Nonferrous and other primary met
do....
Fabricated metal products
do....
Machinery, except electrical
do....
Electrical machinery
do....
Transportation equipment
do....
Aircraft, missiles, and parts
do....
Nondur. goods ind. with unfilled orders $ .. do....
By market category: t
Home goods, apparel, consumer staples
do....
Equip, and defense prod., incl. auto
do....
Construction materials and supplies
do....
Other materials and supplies
do....
Supplementary series:
Household durables
do....
Capital goods industries
do....
do....
Digitized forNondefense
FRASER
Defense
.
do



S-5

SURVEY OF CURRENT BUSINESS

June 1981
1979

1980

1980
Apr.

Annual

May

June

July

Aug.

1981
Sept.

Oct.

Nov.

Dec.

Jan.

Feb.

Mar.

Apr.

'51 151
'8435
'10,708
'6205
^,271
'76 753
'7 667
'17,780
'11 787
'23 612
'38 926
'5 546
'10 421
'4 841
'3972
'86,620
'21,238
'3708
'6342
'7,960
'19,487
'10 146
'4,699

51418
8 170
11,040
6 379
9,282
77340
7 809
17,729
12082
23648
39 126
5 648
10 502
4877
3978
86,919
20898
3651
6407
7949
19,796
10157
4,805

GENERAL BUSINESS INDICATORS—Continued

48,857
7,411
10,732
5,936
8,351
66837
7013
16,952
10,064
17,832
35994
5,379
8,940
4,598
3,733
76,569
20,397
3,503
5,844
6,795
16,982
6,581
4,777

49,507
8046
10,846
6051
8,415
74060
6 949
17,409
11,363
22,748
38340
5290
10,097
4721
4066
82,586
21,362
3524
6,187
7,478
18,516
8,396
4,474

51,086
8049
11,214
6289
8,709
70594
7 141
17,736
10,631
19,477
38 197
5599
9,674
5079
3,935
82,663
20,292
3475
6,143
7,416
19,274
8,388
5,098

50,665
8213
10,035
6215
8,642
71411
7315
17,931
10,662
19,644
38531
5451
10,113
5047
3916
82,795
20,102
3505
6,149
7,479
19,451
8,384
4,986

50177
8194
11,114
6171
8,321
71891
7398
17,716
10,729
20469
38336
5292
10110
4961
3898
83,226
20,272
3529
6085
7,598
19,330
8,763
4,817

50032
8300
11,123
6193
8,404
71 126
7232
17,867
10,915
20524
38 717
5309
10349
4971
4023
83,230
20,830
3618
5940
7,442
18,964
8,885
4,769

49,136
8124
11,108
6163
7,817
73 113
7 184
17,916
10,995
21489
38832
5280
10231
4854
4 199
82,436
21,867
3575
5850
7,550
18,517
8,811
4,520

49007
8090
10,998
6 166
7,770
73 209
6919
17,706
11,090
22149
38475
5178
10403
4839
4031
82,924
21,337
3722
5876
7,475
18,489
8,894
4,470

48722
8018
10,943
6142
7,725
73037
6796
17,407
11,208
22448
38378
5241
10*232
4790
4*117
82,739
21,527
3723
5975
7,443
18,358
8,495
4,488

48841
7906
10,990
6081
7,929
73 733
6989
17,481
11244
22663
38403
5253
10220
4 782
3949
83,113
21,756
3771
6068
7,473
18,610
8,333
4,393

49507
8046
10,846
6051
8,415
74060
6949
17,409
11363
22748
38340
5290
10097
4 721
4066
82,586
21,362
3524
6 187
7,478
18,516
8,396
4,474

50788
8541
10,832
6280
8,682
76207
7359
17,741
11491
23792
37 943
5 123
10064
4796
3901
83,470
21,050
3 739
6256
7,673
18,810
8,585
4,498

51488
8610
10,809
6288
8,904
76487
7 510
17,813
11742
23811
38303
5 314
10243
4 814
3914
84,953
21,164
3627
6339
7,889
19,175
9,206
4,650

30,257
11774
34,538

32,369
12973
37244

32,322
12774
37567

32,406
12708
37681

32,338
12611
38*277

32,314
12634
38282

31,461
12620
38355

31,918
12725
38281

32,139
12551
38049

32,142
12560
38411

32,369
12973
37 244

32,866
13 170
37 434

33,207 '33,387 33,787
13 430 '13 588 13 548
38316 '39 645 39 584

17,584
29749
61,621
10,347
19,646
89,311

18,118
31 199
69,967
9223
20,035
95951

18,419
30418
66,205
10428
20,165
96905

18,413
30351
67,180
10019
20,095
97344

18,286
30418
67*,819
9647
19,954
97506

18,008
31 018
68*,824
9347
19*,827
97081

17,985
30978
69,295
9262
19J07
96290

17,845
31 071
69,213
9347
19,649
96490

17,882
31 317
69,615
9981
19,491
95 590

17,880
31 773
69,813
9073
19,704
95847

18,118
31 199
69,967
9223
20,035
95951

18,297 18,419
31 460 31 593
71,105 71612
9 306
9 272
20,109 20,270
98 131 100 065

'18 633
'31 944
'71 609
'9294
'20 427
'101 543

72611
9 149
20332
101 984

9 180
9 155
9495
9397
9 267
9 132
9 160
9 058
9 014
9 002
9 155
9 170
9 226
68,640
78,209 73,741 74,668 75,370 76*,569 76^956 77*,401 77,805 78,117 78,209 80034 80,599
59 178
66 171 63464 64 217 64 782 65661 65 779 66 091 66 158 66 284 66 171 67 585 67 954
9*462
12*038 10277 10 451 10 588 10908 11 177 11 310 11 647 11 833 12033 12 449 12 645
1,732,015 1,809,772 146,490 138,924 145,566 136,338 144,119 159,886 165,762 155,859 154,798 152,101 164,906
926 580 914 731 74 452 67663 71 700 67 191 68832 81 060 86 228 78 070 78 431 76 042 83 104
805,435 895,041 72,038 71,261 73,866 69,147 75,287 78*,826 79,534 77,789 76,367 76,059 81,802
1
1,732,015 '1,809,772 143,313 138,920 138,582 147,104 147,180 155,262 158,054 158,775 162,157 162,090 162,759

'9 320
'80 835
'67 825
'13 010
'172,250
'89 730
'82,520
'164,697

9 519
81770
68 525
13 245
166706
86 184
80522
163,328

18872

q-i QKK

'926,580
'142882
'69,121
'59,802
'111,622
'163,304
'115785
'216,523
'65,796
'805,435
'171,502
'633,933

'914,731
'138680
'65,461
'61,144
'110,702
'167,648
'127506
'189 192
'62,897
'895,041
'183,602
'711,439

72,416
9680
4,124
4,649
8,862
11,651
10 737
17510
8576
70,897
14,702
56,195

67,328
8373
3,356
4,368
8,333
12,701
10022
14320
6188
71,592
14,456
57,136

66,454
8947
3,881
4,250
8,076
13,085
9941
12672
4810
72,128
14,582
57,546

74,228
10811
4,721
5,290
8,621
14,177
9677
16362
5682
72,876
15,099
57,777

72,229
11 412
5,644
4,854
8,522
12,931
10 790
14 175
3794
74,951
15,370
59,581

78,960
12554
6,255
5,292
8,903
14,817
9977
17487
5272
76,302
15,879
60,423

80,693
13 745
7^183
5,478
10,121
14,806
11 098
15007
3286
77,361
15,807
61,554

81,047
13029
7,071
4,872
9,884
14,822
11 459
15957
4624
77,728
15,469
62,259

82,654
12899
6784
5,008
10,514
15,100
10565
17 169
4997
79,503
15,953
63,550

81,336
10977
5208
4,674
9,705
16,545
11 420
16 164
5467
80,754
15,761
64,993

82,209
12412
6170
5,181
10,124
15,281
11 542
15828
4 361
80,550
16,270
64,280

'84,213
'12 070
'6170
'4,795
'10,507
'15,636
'11 624
'17*719
'5910
'80,484
'16,488
'63,996

83917
12 129
6610
4,501
10015
15,953
11 495
17 501
5 364
79,411
16,473
62,938

'126,005
'298,939
'258,447
1
149 571
'149,383
'749,670

'132,744
'324 792
'275,139
'125609
'146,812
'804,676

10,570
25105
23,186
8948
11,452
64,052

10,283
26 135
22,307
8348
10,838
61,009

10,613
26712
20,802
8359
10,906
61,190

10,880
27 107
21,728
10 444
11,665
65,031

10,744
28 168
21,722
10 205
11,504
64,837

11,051
28569
25,049
10 854
12,281
67,458

11,535
27947
22,514
12 073
13,552
70,433

11,359
27897
23,121
11 760
13,158
71,480

11,249
29046
25,073
11 546
13,666
71,577

11821
28 558
25848
11 026
13551
71,286

12,386
28437
23,818
11 603
13640
72,875

'12 204
'28 162
'26 087
11 792
r
!3 865
'72,587

12077
28 213
24362
12 525
13 429
72,722

'55 939 '58 385
'299 216 '310613
'259 721 '255 638
'39 495 '55 025

4713
27 no
22 162
4 948

4 417
24 868
19589
5279

4 503
23500
19954
3546

4728
25 974
21 608
4 366

4 789
23 ggg
19371
4515

4 830
27 318
20860
6458

5 081
24 526
20*618
3908

4 873
26 302
21 849
4453

5005
27 498
21 673
5825

5 322
28 706
24 513
4 193

5 753 r5 661
26 247 '28 626
20590 '23 791
5 (557 '4 835

5 659
27 632
22772
4 860

277 153
265,777
11,376

288 372 288 564 284 306 280 616 282 354 282 047 283 255 286 830 286 027 288 372 292 313 294 696 '297 059 2Qg 124
277,772 276,660 273,032 269,847 271,780 271,364 272,495 276,003 275,393 277,772 281,600 283,746 '286,089 286 878
10,600 11,904 11,274 10,769 10,574 10,683 10,760 10,827 10,634 10,600 10,713 10,950 '10,970 11,246

278,846

290 735 286 629 284 033 281 044 282 463 282 997 285 497 286 849 287 907 290 735 291 677 292 813 '295 013 296 078

267,071
29607
17690
9,295
28,257
58,729
35,552
102,747
77,893
11,775

279,746 275,098 272,981 270,383 272 062 272 231 274 622 275 813 277 124 279 746 280 825 281 953 '284 108 285 194
30738 27876 25982 25 139 25692 26499 27 731 29680 30 425 30738 29 185 29 105 '29 406 29601
19097 16088 14770 14 358 \4 727 15728 16 756 18 163 18948 19097 18 100 18053 '18 382 18 745
9,539
9,178
8,911
9,077 '9,078
8,980
8,591
8,874
8,706
8,892
9,427
9,394
9,539
9,038
27617 28464 28356 28027 27987 27706 27 178 27396 27338 27617 27505 27532 '27 795 27626
57,116 58270 57,432 56,695 56926 56294 56519 56573 56747 57 116 58097 58130 '58 257 58694
39,710 38,808 38,782 38,830 38,437 38,947 38,534 38,884 39,531 39,710 40,452 41,074 '41,538 41,861
112,805 103,876 109,896 109,611 111,042 110,913 113,058 111,633 111,473 112,805 113,627 113,921 '114,699 114,827
89,578 86,099 87,994 88,827 90,247 90,178 90632 89,150 89,089 89578 90556 90622 '91,397 91855
10,989 11,531 11,052 10,661 10,401 10,766 10875 11,036 10,783 10,989 10 852 10860 '10,905 10884

4,538
154,691
20,772
98,845

3,934
4652
4355
4 159
4260
4 120
3988
4247
3928
3934
4414 '4739
4084
4942
164,410 160,314 160,530 159,412 159,384 159,570 161 670 161,€52 162,043 164,410 166,872 167 829 '169,405 169 673
20,009 20581 20626 20423 20269 20063 19883 20168 19957 20009 19859 19814 '20 036 19832
102,382 101,082 98,522
98651 99104 99824 101,041 101,979 102382 100862 100756 '100,833 101 631

3,408
179,055
131,563
47.492

3670
2971
3288
3471
3387
3381
3233
3 100
2975
3 144
3522 '3823
4017
2971
193,616 188,718 189,384 188,821 190,296 190 487 192 126 191 031 191,621 193,616 196 194 196582 '197 981 198 848
133 017 137 657 136 482 135 810 136 374 135 375 134 355 133 127 133 120 133 017 135 087 133 738 '134 633 134 640
60.599 51.061 52.902 53.011 53.922 55.112 57.771 57.904 58.501
61.107 62.844 '63.348 64.208

May

SURVEY OF CURRENT BUSINESS

S-6
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS

1979

1980

1981

1980
Apr.

Annual

June 1981

May

June

July

Aug.

Sept.

Oct.

Nov.

Dec.

Jan.

Feb.

Mar.

Apr.

May

GENERAL BUSINESS INDICATORS—Continued
BUSINESS INCORPORATIONS $
New incorporations (50 States and Dist. Col.):
Unadjusted
number
524 565 533 520 44479 43436 41420 46151
42461 41974 39746 44058
Seasonally adjusted
do
INDUSTRIAL AND COMMERCIAL
FAILURES *
1094
1068
975
1 141
7564
11742
Failures total
number
130
143
154
930
1594
143
Commercial service
do
210
202
215
1378
2,355
214
Construction
. . . . do .
164
128
139
1 165
1599
143
Manufacturing and mining
do
483
492
4910
437
405
Retail trade
.
do
3183
110
116
908
1284
119
131
Wholesale trade
do
Liabilities (current) total
thous $ 2 667 362 4 635 080 428 150 381 146 436 680 445 693
347 749 413 502 29986 35 129 32913 43610
Construction
do.... 291,323 752,109 134,025 84,405 130,691 49,079
970 178 1 885 017 126 688 120 038 80461 178,373
Manufacturing and mining
do
Retail trade
do.. . 636 859 993,539 96,317 78,183 123,589 84,811
421 253 590913 41 134 63391 69026 89820
Wholesale trade
do
Failure annual rate (seasonally adjusted)
X
393
487
520
422
No per 10 000 concerns
*27 8
42 1

41865
43,266

44923
46488

926
1009
126
121
190
221
160
134
400
363
118
102
345 408 1 002 944
46133 26842
60,678 41,318
108,231 804,390
81,870 56,491
48496 73903
454

49023
47225

39691
43834

48940
51,807

r
46 960
r

45,864

42935
47,662

1 109
1323
860
1015
211
150
155
130
282
229
168
190
150
147
104
150
532
421
468
373
104
107
151
85
359 242 239 344 288 298 421 360
50288 54564 27466 124 915
59,971 29^822 46,720 69,030
106,539 59,565 65,828 98,765
86,849 62,195 124,397 99,301
55595 33198 23887 29,349

450

568

392

468

486

COMMODITY PRICES
PRICES RECEIVED AND PAID BY
FARMERS
Prices received, all farm products
1910-14=100..
Crops #
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
Production items
. .
do
All commodities and services, interest, taxes, and
wage rates (parity index)
1910-14—100
Parity ratio §
.
do
CONSUMER PRICES H
(U.S. Department of Labor Indexes)
Not Seasonally Adjusted
ALL ITEMS, WAGE EARNERS AND
CLERICAL WORKERS, REVISED
(CPI-W)|
1967-100..
ALL ITEMS, ALL URBAN CONSUMERS
(CPI-U) H
1967= 100..
Special group indexes:
All items less shelter
do
All items less food
do....
All items less medical care
do
Commodities
do.
Nondurables
do
Nondurables less food
do....
Durables
do....
Commodities less food
doServices
do
Services less rent
do....
Food #
. do....
Food at home *
do....
Housing
do...
Shelter #
do
Rent, residential
do....
Homeownership
do.
Fuel and utilities #
do....
Fuel oil, coal, and bottled gas
do....
Gas (piped) and electricity
do....
Household furnishings and operation
do....
Apparel and upkeep
do
Transportation
.
. do
Private
do....
New cars
do
Used cars
do....
Public
do
Medical care
doSeasonally Adjusted f
All items percent change from previous month . .
Commodities
1967=100..
Commodities less food
do..
Food
. .
do
Food at home
do
Apparel and upkeep
do
Transportation
do
Private
do ...
New cars
do
Services
do....
See footnotes at end of tables.




655
632
833
610
491
486
458
1,297
677
844
822
270

653
619
'662
'618
'492
'486
'445
1,300
687
'832
'851
264

602
501
548
490
360
403
534
1,148
708
736
938
252

615
542
561
602
417
452
470
1,228
691
798
878
253

563
491
584
534
366
425
459
1,206
637
777
803
219

570
505
581
564
381
434
472
1,210
637
771
810
211

582
513
555
530
391
428
520
1,210
653
764
839
218

617
544
524
632
423
443
463
1,204
694
771
894
255

643
568
555
676
445
455
444
1,204
721
783
932
271

653
584
576
687
458
458
482
1,291
724
807
921
284

652
583
569
636
464
482
510
1,235
722
838
907
279

660
609
623
655
478
499
493
1,248
714
856
877
288

662
613
640
683
489
498
438
1,331
713
863
867
297

659
622
695
649
491
497
432
1,296
697
863
848
279

657
621
796
603
492
492
415
1,296
693
856
845
275

725
722

810
803

790
'782

793
'781

801
791

809
799

819
813

828
824

835
830

847
838

851
840

862
851

(2)
854

'858

'868

867

850
71

956
64

r

936
60

'938
61

948
61

956
65

967
66

976
67

982
66

990
67

994
67

1,016
65

1,020
65

'1,026
64

'1,033
63

1,035
63

217.7

247.0

242.6

245.1

247.8

248.0

249.6

251.9

254.1

256.4

258.7

260.7

263.5

265.2

266.8

269.1

217.4

246.8

242.5

244.9

247.6

247.8

249.4

251.7

253.9

256.2

258.4

260.5

263.2

265.1

266.8

269.0

2108
213.0
2161
208.4
2159
198.7
191.1
195.1
2342
244.9
2345
232.9
2276
2397
176.0
2624
239.3
403.1
257.8
190.3
1666
2120
212.3
1660
201.0
2003
2397

2355
244.0
245.5
233.9
2450
235.2
210.4
222.0
2703
285.1
2546
251.5
2633
2817
191.6
3140
278.6
556.0
301.8
205.4
1784
2497
249.2
1793
208.1
2516
2659

2317
239.9
241 1
229.9
2422
234.6
204.9
218.6
2653
280.0
249 1
245.3
2579
2760
187.0
3077
270.5
556.4
288.0
203.0
1773
2468
247.0
1770
196.7
2359
2620

2334
242.6
243.6
231.4
2432
235.5
207.1
220.2
2692
284.4
2504
246.5
261.7
2802
188.9
312.9
275.9
556.0
298.2
204.2
1775
2490
249.2
1789
199.3
2395
263.4

234.9
245.5
246.4
232.8
244.5
236.3
208.6
221.4
2742
290.0
252.0
248.0
266.7
2863
191.1
320.4
282.2
558.7
308.8
205.5
1772
249.7
249.7
1785
200.7
2422
264.7

236.4
245.1
246.5
234.1
245.9
236.6
209.8
222.2
272.4
287.6
254.8
251.5
265.1
282.9
192.1
315.4
285.5
560.4
314.3
206.2
1762
251.0
250.5
179.2
203.4
2505

238.5
246.3
248.1
236.7
248.3
237.8
212.4
224.2
2725
287.4
2587
256.3
265.8
2833
193.2
315.4
286.8
561.5
316.1
207.2
1786
2527
251.6
181 1
206.4
2615
2684

2410
248.6
250.4
239.0
250.2
239.3
215.3
226.6
2748
289.8
261.1
258.9
267.7
2853
195.1
317.6
288.2
561.5
318.4
209.2
1822
254.7
253.2
1817
214.6
2710
2706

242.1
250.9
252.6
240.7
251.0
239.6
218.1
228.3
277.9
293.2
262.4
260.0
271.1
2904
197.1
323.8
287.6
558.7
317.1
210.1
1839
256.1
254.5
1819
222.7
2736
272.8

243.6
253.2
254.9
242.5
252.4
240.5
220.6
230.0
280.9
296.4
264.5
262.1
273.8
294.7
198.3
329.4
285.7
567.0
310.5
211.0
1848
259.0
257.4
184.3
230.8
2770
274.5

245.2
255.5
257.1
243.8
254.1
242.0
221.1
231.0
284.7
300.7
266.4
263.9
276.9
298.5
199.6
334.2
289.9
585.3
313.9
211.6
1839
261.1
259.4
1845
234.4
2801
275.8

247.6
257.6
259.2
245.4
256.9
245.3
221.0
232.4
287.7
304.2
268.6
265.6
279.1
300.1
200.9
335.8
296.7
625.9
318.5
212.6
181 1
264.7
262.9
185.3
234.0
2864
279.5

251.2
260.4
261.9
248.3
262.3
253.2
220.3
235.4
290.1
306.9
270.8
267.3
280.9
300.5
201.9
335.8
304.5
675.6
322.9
214.9
1820
270.9
269.4
184.8
234.3
2881
282.6

253.3
262.3
263.7
249.8
265.2
257.5
219.8
237.0
292.5
309.5
272.2
268.6
282.6
301.6
203.0
336.8
308.4
693.4
326.7
216.9
1851
273.5
271.7
182.9
235.4
2939
284.7

254.9
264.2
265.4
250.8
265.9
258.1
221.1
238.0
295.4
312.8
272.9
268.7
284.8
303.8
204.2
339.3
310.5
690.6
330.6
219.2
1864
275.3
273.4
186.1
239.1
2972
287.0

256.2
267.0
267.6
251.9
265.8
258.2
223.9
239.6
299.6
317.4
272.5
267.7
288.5
308.4
205.9
345.0
314.9
685.8
339.6
220.1
1864
2778
276.0
1909
2452
2977
2890

09
229.7
218.5
2483
244.0
1769
247 1
247.4
1767
265.5

0.9
230.7
219.5
2493
244.9
1768
2479
248.1
1783
269.4

1.0
231.6
220.3
2505
245.8
177.1
2473
247.3
1784
274.1

0.1
233.0
221.3
2529
248.7
1781
2482
247.7
1799
272.4

08
235.9
2234
2576
254.6
1794
2504
249.4
1826
272.7

1.0
238.9
225.9
2620
259.8
1809
2540
252.6
1849
274.6

1.0
241.1
228.0
2644
262.2
1821
2566
255.1
1833
277.9

1.1
243.5
230.0
2676
265.6
1828
2599
258.4
1835
281.5

1.0
245.2
231.3
2702
268.0
1828
2624
260.9
1833
285.5

0.7
246.6
233.6
2698
266.9
182.5
2670
265.3
1835
288.0

1.0
249.2
236.8
2706
266.8
1840
273.4
272.0
1833
290.3

0.6
250.5
238.1
2716
267.9
1858
2759
274.2
1825
292.6

0.4
250.5
238.1
2716
267.3
1861
2757
273.8
1857
295.4

07
250.9
2390
2710
2660
1857
2765
2747
1901
299.6

650
618
665
609
492
473
510
1,304
682
826
849
254

Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS

S-7

SURVEY OF CURRENT BUSINESS

June 1981
1979

1980

Annual

1980
Apr.

May

June

July

Aug.

1981
Sept.

Oct.

Nov.

Dec.

Jan.

Feb.

Mar.

Apr.

May

COMMODITY PRICES—Continued
PRODUCER PRICES §
(U.S. Department of Labor Indexes)
Not Seasonally Adjusted
Spot market prices, basic commodities:
22 Commodities ... .
1967—100
9 Foodstuffs
do. .
13 Raw industrials
do
All commodities
do
By stage of processing: t
Crude materials for further processing
do....
Intermediate materials, supplies, etc
do....
Finished goods $
do
Finished consumer goods
do....
Capital equipment
do
By durability of productDurable goods
.
do
Nondurable goods
do. .
Total manufactures
. .
do
Durable manufactures
do....
Nondurable manufactures
do....
Farm prod., processed foods and feeds
do....
Farm products #
do....
Fruits and vegetables, fresh and dried.... do....
Grains
do....
Live poultry , r, ,,, ,
do
Livestock
do ...
Foods and feeds, processed #
do....
Beverages and beverage materials
do....
Cereal and bakery products
do....
Dairy products
do
Fruits and vegetables, processed
do....
Meats, poultry, and fish
do....
Industrial commodities
do
Chemicals and allied products #
do....
Agric. chemicals and chem. prod
do....
Chemicals, industrial
do
Drugs and Pharmaceuticals
do....
Fats and oils inedible
do
Prepared paint
do .
Fuels and related prod., and power #
do....
Coal
do
Electric power
do
Gas fuels
do
Petroleum products, refined
do....
Furniture and household durables #
do....
Appliances household
do
Furniture, household
do ..
Home electronic equipment
do....
Hides, skins, and leather products #
do....
Footwear
do....
Hides and skins
do
Leather
do ..
Lumber and wood products
do
Lumber
do ...
Machinery and equipment #
do....
Agricultural machinery and equip
do
Construction machinery and equip
do....
Electrical machinery and equip
do....
Metalworking machinery and equip
do....
Metals and metal products #
do....
Heating equipment
do ...
Iron and steel . .
do
Nonferrous metals
do....
Nonmetallic mineral products #
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
Textile products and apparel
do....
Synthetic fibers
Dec 1975—100
Processed yarns and threads
do....
Gray fabrics .
do
Finished fabrics
do....
Apparel
1967—100
Textile house furnishings
do....
Transportation equipment # ....Dec. 1968=100..
Motor vehicles and equip
1967=100..
Seasonally Adjusted $
Finished goods, percent change from previous
month *
Crude materials for further processing 1967=100..
Intermediate materials supplies etc
do....
Finished goods $
do
Finished consumer goods
do....
Food
do
Finished goods exc foods
do....
Durable
do
Nondurable
.. .
do ...
Capital equipment
do
See footnotes at end of tables.




1

277.1
'255.6
'293.0
235.6

'283.5
'264.3
'297.9
r
268.8

272.5
235.0
301.9
262.8

264.1
244.4
278.5
264.2

260.3
250.0
267.5
265.6

274.6
270.0
277.6
270.4

288.7
283.7
292.1
273.8

292.8
284.8
298.3
274.6

296.6
290.3
300.8
277.7

298.4
289.4
304.7
279.1

287.7
272.6
298.4
'280.8

281.7
267.7
291.6
'284.6

273.4
258.5
284.2
286.9

275.1
255.0
289.8
289.6

276.0
253.0
293.0
292.8

269.7
244.0
288.9
293.7

274.3
243.2
217.7
217.9
216.5

'304.6
'280.3
'246.9
'248.9
'239.8

286.2
275.7
242.1
243.7
236.2

289.3
277.0
243.4
245.2
236.7

288.4
278.8
244.9
246.8
237.8

304.3
281.6
249.3
251.7
240.6

317.0
284.3
251.4
254.1
241.9

319.3
285.3
251.4
254.1
241.8

322.8
287.7
255.4
257.0
249.2

324.6
289.1
256.2
257.9
250.2

323.5
291.9
257.2
258.9
250.9

'328.0
'296.2
'260.4
'262.0
'254.5

335.5
297.8
262.4
264.0
256.3

333.0
301.4
265.3
267.3
257.8

335.2
305.4
267.7
269.6
260.5

333.2
306.6
268.9
270.6
262.6

r

247.7
274.4
257.0
246.7
267.9
229.3
228.9
223.2
210.8
171.9
230.5
228.6
227.9
232.4
227.5
224.6
226.0
271.3
259.8
258.5
322.1
172.6
298.2
231.5
566.6
465.2
310.1
730.1
678.0
184.4
171.1
200.3
91.4
243.5
231.9
328.6
297.6
275.6
310.1
236.4
254.4
284.2
198.9
270.2
284.4
204.2
307.2
298.3
283.7
235.0
272.9
264.0
247.8
253.5
214.1
231.8
181.2
130.4
122.1
137.0
114.5
170.0
201.6
203.2
205.4

247.1
277.6
258.3
246.7
270.7
233.8
233.5
244.0
219.0
171.3
233.3
233.1
231.2
234.7
228.5
225.4
224.5
271.9
262.5
258.5
328.5
172.8
294.7
238.8
572.1
466.5
316.5
745.1
680.9
185.4
173.2
203.0
92.0
240.7
231.9
289.7
290.4
272.1
301.4
237.6
256.4
285.9
199.9
272.9
281.8
204.0
304.8
289.7
284.0
230.0
275.2
256.5
249.2
256.1
215.0
233.2
182.0
133.2
124.2
136.5
115.3
170.2
202.6
202.5
204.5

248.7
278.8
259.8
248.5
271.7
234.3
233.4
233.5
215.3
166.6
240.0
233.9
234.3
233.2
229.5
227.2
226.6
273.5
262.8
257.6
329.5
174.4
255.8
238.8
576.5
466.6
326.0
749.2
681.7
186.5
175.5
204.0
91.8
240.9
231.9
315.7
284.4
279.8
313.0
239.2
257.1
287.6
201.6
275.4
281.9
205.0
303.4
288.8
283.4
230.1
275.8
257.1
251.1
257.9
217.3
235.6
183.0
134.5
122.8
134.8
115.8
172.7
202.7
203.1
205.2

251.2
285.6
263.0
251.0
275.9
246.6
254.3
252.0
244.8
227.2
260.5
241.5
234.6
234.7
230.1
229.8
248.5
276.2
263.3
258.7
328.7
175.7
260.0
238.8
585.5
467.5
331.1
762.1
693.9
188.0
175.8
206.5
91.7
245.1
232.7
356.6
292.2
289.2
327.2
241.5
258.6
291.5
203.7
278.0
282.5
206.2
300.6
292.6
284.8
230.1
275.9
253.1
251.7
258.2
218.8
238.0
184.7
136.0
122.4
135.7
116.6
174.4
210.7
206.2
208.6

253.1
290.3
265.7
252.7
279.5
255.1
263.8
254.0
256.5
224.5
275.7
249.4
237.1
235.8
232.6
230.7
259.9
278.2
264.4
260.0
330.0
176.1
307.6
238.8
590.6
468.7
333.6
772.6
697.6
188.9
176.3
208.0
91.3
251.3
233.7
398.4
314.2
296.1
333.7
242.6
259.9
293.4
205.0
278.8
285.1
208.0
302.6
298.4
286.0
229.7
276.0
251.8
252.4
258.6
220.5
238.0
185.6
137.5
123.2
137.5
116.8
175.1
211.0
208.8
211.7

253.7
291.2
265.8
253.1
279.5
256.5
267.0
266.2
260.6
241.0
266.8
249.8
236.1
238.3
233.7
231.3
257.8
278.8
263.4
260.6
327.5
176.8
304.5
239.3
593.5
471.3
338.3
786.2
696.4
189.5
177.2
208.5
91.6
247.8
235.5
356.1
298.1
292.2
328.0
244.7
263.9
295.7
206.0
280.2
287.3
208.8
304.5
302.2
286.8
230.1
277.3
251.8
252.8
258.7
222.0
242.1
186.6
139.5
124.3
141.0
117.0
175.0
212.9
204.4
205.6

258.4
293.0
269.6
257.8
282.1
259.4
263.6
240.9
269.2
222.9
263.0
256.1
239.5
241.5
238.0
233.8
256.0
282.0
264.8
260.6
330.0
178.4
302.0
239.3
592.9
470.7
337.4
802.2
690.4
190.9
177.5
209.8
91.5
251.2
236.6
381.5
301.9
289.0
320.6
246.8
265.4
299.1
207.0
282.5
291.9
210.6
310.5
309.4
288.6
233.3
277.5
249.5
254.3
262.1
222.8
245.2
188.1
140.2
125.1
143.5
118.3
176.2
213.8
217.4
218.2

258.6
295.2
270.5
257.9
284.0
260.5
264.9
246.6
270.9
221.0
254.8
257.2
240.6
245.3
240.2
234.7
250.9
283.4
266.7
261.1
332.7
181.1
308.2
241.4
600.2
475.4
333.8
825.5
697.6
191.5
178.5
210.9
91.2
255.4
237.5
409.1
317.3
293.4
324.9
248.3
271.6
300.1
207.5
283.9
291.1
212.0
312.7
302.1
288.7
233.5
277.7
253.3
255.0
264.1
223.4
245.2
189.6
140.7
125.8
145.0
119.1
176.8
213.8
217.8
218.6

261.0
296.3
272.0
260.4
284.3
257.0
265.3
245.1
265.2
218.9
251.4
251.5
240.5
248.7
242.3
236.6
248.1
286.6
268.1
263.3
334.6
182.6
317.1
241.4
615.7
475.3
337.6
844.3
717.0
193.1
179.5
212.1
91.0
256.9
236.9
392.8
332.4
299.4
333.0
249.8
272.9
301.4
208.9
285.7
290.6
214.0
316.4
293.4
291.2
233.6
277.6
252.7
256.7
269.4
223.3
245.2
190.4
140.8
128.2
144.0
120.1
177.5
214.3
224.3
226.2

'262.6
'302.3
'277.1
'262.1
'293.1
'258.0
'264.5
'258.7
277.7
213.1
244.3
'253.4
'243.0
'251.1
'244.7
'238.4
'248.9
'291.2
'274.3
'267.5
'344.6
184.7
'310.7
'242.9
'634.6
'477.8
'341.4
'857.1
'736.9
'193.9
'182.2
'212.9
91.0
'258.2
'238.4
377.8
332.6
296.6
331.6
'253.2
'276.4
'305.3
211.9
'289.6
'294.1
'216.7
'322.9
'292.8
'296.6
'239.5
'286.1
259.6
'261.3
'271.7
'224.8
'240.9
'193.0
'146.5
'129.8
'143.5
'122.2
'179.9
'219.7
'227.4
'228.9

263.1
306.0
278.7
262.7
295.9
254.9
262.3
270.4
267.5
220.8
244.6
250.0
242.2
251.7
245.5
244.1
243.9
294.8
277.2
271.3
349.4
187.4
289.7
246.9
663.8
480.8
345.4
858.8
767.8
194.6
182.3
212.1
91.7
257.4
240.8
367.3
310.0
294.5
327.8
254.8
277.2
308.4
213.6
291.2
293.7
216.1
323.0
286.2
297.7
240.4
286.6
257.3
266.2
273.1
226.5
243.1
193.1
147.8
129.6
143.1
122.2
179.3
225.4
228.5
230.2

264.5
310.0
281.8
264.0
301.0
253.1
260.6
291.6
261.8
213.5
239.3
248.1
242.8
251.9
245.5
251.8
242.0
298.9
279.4
274.8
352.5
189.1
295.7
246.9
692.2
481.3
350.4
867.6
822.4
195.4
183.0
214.4
91.3
262.4
240.5
(a)
322.5
293.6
324.7
256.9
278.7
311.3
215.9
294.7
296.1
217.6
328.0
285.5
301.2
245.2
286.9
257.6
268.4
274.0
228.8
248.2
194.5
149.6
133.9
144.0
122.5
180.1
225.4
228.5
229.9

267.4
313.3
284.8
266.9
304.3
253.6
263.2
285.2
264.7
195.4
246.6
247.4
243.4
253.5
245.8
258.7
239.2
302.8
285.8
277.3
360.8
190.9
312.7
248.5
703.8
486.4
355.8
884.5
839.1
196.4
183.8
216.9
91.3
264.9
241.1

268.4
314.1
286.0
268.0
305.4
252.6
259.5
273.9
257.7
207.2
251.8
248.0
245.0
255.1
245.0
260.1
244.8
304.1
288.2
278.6
366.6
192.3
312.1
250.4
706.0
487.7
360.7
906.0
835.4
197.5
184.2
217.6
91.0
265.9
241.1

337.8
298.1
331.3
259.2
281.2
314.7
217.8
298.1
298.7
218.8
330.9
288.0
310.2
245.6
289.5
256.8
270.6
275.5
230.9
250.3
196.5
151.6
134.6
145.7
124.1
182.1
226.3
231.5
233.2

337.0
297.8
334.9
260.6
284.4
318.3
218.0
299.5
299.2
221.7
330.6
287.8
311.7
249.6
290.7
261.1
271.6
276.1
232.0
250.8
198.0
156.7
137.1
146.1
124.7
182.4
231.1
233.2
235.3

226.9
241.7
22S.8
226.1
231.1
229.8
241.4
229.0
214.8
194.3
260.3
222.5
210.7
210.3
211.2
221.9
242.0
236.5
222.3
214.4
264.0
159.4
376.7
204.4
408.1
450.9
270.2
544.1
444.8
171.3
160.9
186.3
91.3
252.4
218.0
535.4
356.7
300.4
354.3
213.9
232.1
256.2
178.9
241.3
259.3
187.1
283.5
261.7
248.6
217.9
244.1
252.3
219.0
229.6
194.3
205.9
168.7
119.0
109.2
127.1
107.4
160.4
190.4
188.1
190.5

251.5
'282.4

r
261.5
r

250.8
'273.0
'244.7
'249.4
'238.6
'239.0
'202.1
'252.7
'241.2
'233.0
'236.0
'230.6
'228.7
'243.1
'274.7
'260.3
'257.1
'324.0
'174.5
'298.0
'235.3
'574.0
'467.3
'321.6
'760.7
'674.7
'187.7
'174.1
'204.8
'91.4
'248.8
'233.1
'370.9
'310.6
'288.9
'325.8
'239.8
'259.2
'289.4
'201.7
'274.4
'286.4
'206.5
'305.2
'305.0
'283.0
'231.4
'273.9
'256.2
'249.2
'256.8
'217.4
'236.9
'183.5
'134.7
'122.5
'138.1
'115.7
'172.3
'206.9
'206.9
'208.8

0.8

0.5

0.8

1.7

1.2

0.3

0.9

0.7

0.4

'1.0

'0.6

1.3

0.8

0.4

283.1
274.7
241.7
243.3
229.8
244.5
201.5
281.5
235.8

286.1
276.4
242.8
244.5
230.8
245.8
201.7
283.6
236.6

288.3
278.4
244.8
246.6
232.1
248.2
204.7
285.6
238.2

303.6
281.0
249.0
251.2
240.6
250.8
207.7
287.8
241.1

317.5
283.7
252.0
254.3
247.0
252.3
209.4
289.1
243.6

321.8
285.2
252.7
255.1
248.3
252.8
209.1
290.3
243.9

327.2
287.6
255.1
257.1
250.0
254.8
212.3
291.4
248.1

330.7
290.2
256.9
258.9
250.8
260.1
213.3
294.8
249.7

328.1
293.5
257.8
259.7
250.9
261.2
212.9
297.4
250.8

'328.8
'297.4
'260.3
'262.1
'251.2
'264.4
'213.2
'302.5
'253.5

331.4
297.9
261.9
263.6
249.2
267.5
213.5
307.7
255.8

327.0
301.1
265.2
267.2
251.1
271.9
213.7
315.0
257.7

331.8
304.3
267.3
269.3
251.1
274.8
215.3
318.8
260.1

330.1
305.9
268.3
269.9
251.0
275.6
217.5
319.0
262.4

S-8

SURVEY OF CURRENT BUSINESS

Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS

1979

1980

1980

Annual

June 1981

Apr.

May

June

July

Aug.

1981

Sept.

Oct.

Nov.

Dec.

Jan.

Feb.

Mar.

Apr.

May

COMMODITY PRICES—Continued
PRODUCER PRICES-Continued

(U.S. Department of Labor Indexes) —Continued
Seasonally Adjusted
By durability of product:
Total manufactures
Durable manufactures
Nondurable manufactures

1967—100..
do
do....

256.2
2462
266.8

257.3
2462
269.4

259.3
2485
270.1

262.5
2513
274.5

266.0
2530
279.5

265.7
2528
279.4

268.5
2557
282.4

270.5
2574
285.3

273.3
2612
285.9

0.413
0412

0.411
0408

0.408
0404

0.401
0404

0.398
0401

0.398
0397

'0.392
0394

0.390
0390

0.389
0387

(22)
(2)
()

PURCHASING POWER OF THE DOLLAR
As measured by:
Producer prices
Consumer prices i

fl

1967=$1.00..
do

0.459
0460

0.405
0405

r

0.381
0380

0.377
0377

0.374
0375

16,820 '16,179 '18,039
13,112 '12,686 '14,186
'6,197 '6,940
6,614
'4,640 '5,217
4,881

19,444
15,420
7,935
5,547

0.384
0384

0.372
0372

CONSTRUCTION AND REAL ESTATE
CONSTRUCTION PUT IN PLACE @
New construction (unadjusted) total .

. mil $.

Private total #
do....
Residential
do
New housing units
do....
Nonresidential buildings, except farm and
public utilities total #
mil $
Industrial
do....
Commercial
do
Public utilities:
Telephone and telegraph
do
Public total #
do
Buildings (excluding military) #
do....
Housing and redevalopment
do....
Industrial
do
Military facilities
do
Highways and streets
do....
New construction (seasonally adjusted at annual
rates) total
bil $

228,950
179,948
99,030
78,587

228,705

17,909

18,873

19,706

19,975

20,483

173,578
86,903
62,794

13,869
6,836
4,731

14,212
6,963
4,695

14,568
6,959
4,753

14,522
7,134
4,993

15,054
7,556
5,405

21,156
15,418
7,876
5,783

21,352
15,966
8,154
6,061

20,365
15,717
8,277
6,182

19,332
15,134
7,424
5,365

47,298
14,950
24,924

51,891
14,023
29,340

4,202
1,106
2,419

4,373
1,174
2,500

4,543
1,274
2,564

4,375
1,153
2,504

4,503
1,187
2,580

4,473
1,178
2,529

4,676
1,178
2,702

4,529
1,157
2,586

4,481
1,265
2,474

4,110
1,093
2,324

4,042
1,063
2,283

'4,450
r
l,252
'2,457

4,622
1,251
2,613

6,343

6,745

607

5,139

1,483
132
151

1,547
132
156

1,701
141
165

1,645
163
174

452
3,493
1,364
143
135

149
1,497

153
1,644

532
4,648
1,638
149
112
148
1,135

455
3,708
1,502
150
181

155
1,186

5,738
1,813
139
201
176
1,637

620
5,386
1,672
157
107

146
843

568
5,429
1,777
129
145
197
1,488

548

4,661

584
5,453
1,704
148
150
174
1,590

596

55,128
18,928
1,658
1,791
1,853
13,472

591
4,040

565

49,003
15,857
1,211
1,411
1,640
11,915

145
786

155
668

169
597

588
'3,854
'1,516
'151
179
'151
'654

4,024
1,482
162
148
153
829

225.8
171.5
83.5
60.7

218.9

215.0

214.3

215.1

158.6

162.1

74.3
52.2

78.6
56.1

84.4
60.8

247.4
189.2
100.2
71.1

193.4

73.4
51.9

235.8
182.2
97.0
69.2

196.4

77.0
55.2

228.8
173.8
89.2
63.5

'253.9

161.3

223.7
167.9

261.9

164.8

103.2
75.4

'100.6
74.4

'251.5
'191.2
'97.4
'72.8

244.6
190.4
97.0
71.2

52.7
13.6
30.9

52.9
14.2
30.1

52.9
15.0
29.6

49.4
13.3
28.1

49.1
13.0
28.0

49.0
13.1
27.4

50.2
13.0
28.4

51.1
13.4
28.9

54.6
15.1
30.4

58.7
15.1
33.6

58.0
15.2
33.0

'58.5
15.7
'33.1

57.8
15.4
33.3

Private total #
.
do .
Residential
do ...
New housing units
do
Nonresidential buildings, except farm and
public utilities total #
bil $
Industrial
. .
. do .
Commercial
do
Public utilities:
Telephone and telegraph
do
Public total #
do
Buildings (excluding military) # . .
do ..
Housing and redevelopment
do
Industrial .•
do ..
Military facilities
do ..
Highways and streets
do
CONSTRUCTION CONTRACTS
Construction contracts in 50 States (F.W. Dodge
Division, McGraw-Hill):
Valuation, total
mil. $..
Index (mo. data seas, adj.)
ft
1972=100..
Public ownership
mil. $..
Private ownership
do
By type of building:
Nonresidential
do
Residential
do. ..
Non-building construction
do
New construction planning
(Engineering News-Record) §
do....
HOUSING STARTS AND PERMITS
New housing units started:
Unadjusted:
Total (private and public)
thous
Privately owned
do ..
One-family structures
do....
Seasonally adjusted at annual rates:
Total privately owned @ @
do....
One-family structures @ @
do
New private housing units authorized by building
permits (16,000 permit-issuing places):
Monthly data are seas. adj. at annual rates:
Total
thous .
One-family structures
do....
Manufacturers' shipments of mobile homes
(Manufacfactured Housing Institute):
Unadjusted
thous
Seasonally adjusted at annual rates
do....
See footnotes at end of tables.




168,446
'186
46,646
121,800

4,198

7.3

6.6

6.8

6.7

6.3

6.7

6.3

6.3

6.2

7.1

6.9

7.3

54.3

54.1

53.7

55.7

53.1

55.8

55.0

53.6

58.2

65.5

60.6

'60.3

54.2

18.3
1.8
1.8

18.5
1.5
1.8

19.4
1.6
1.8

18.0
1.6
1.8

19.5
1.5
1.6

19.4
1.4
2.4

18.8
1.6
1.4

19.5
1.7
1.4

20.9
2.1
2.2

20.3
2.3
2.3

19.4
2.0
1.8

'20.3
'2.1
2.0

18.2
2.2
1.7

2.0
14.4

1.7
13.2

1.7
14.0

2.0
13.8

2.3
11.3

1.7
13.8

2.1
13.6

1.8
12.4

1.7
13.7

2.1
19.9

2.0
17.8

2.0
'15.5

2.1
14.1

147,164 '10,840
130
'162

11,135
125

'3,612
'7,228

3,534
7,601

12,425
145
3,867
8,558

13,466
148
3,783
9,684

15,146
192
3,488
11,657

13,077
163
3,559
9,518

13,886
167
3,459
10,428

13,296
210
3,367
9,929

12,513
193
3,238
9,275

10,467
185
3,242
7,225

10,405
177
3,007
7,399

13,904
183
3,649
10,255

14,378
172
3,703
10,675

r

41,351
105,813

50,206
74,557
43,683

52,345
63,206
31,613

3,899
'4,318
'2,624

4,135
4,495
2,505

4,861
5,092
2,471

4,819
6,105
2,542

4,313
5,897
4,936

4,419
6,069
2,589

5,025
6,785
2,076

5,008
5,847
2,441

4,709
5,570
2,235

4,122
4,207
2,139

4,085
4,206
2,114

5,345
5,929
2,630

5,272
6,569
2,537

135,005

149,143

12,397

13,057

8,900

9,642

8,997

9,821

13,580

17,200

13,071

14,991

12,449

11,212

15,545

14,093

1,749.1
1,745.1
1,194.1

1,298.5
1,292.2
852.2

96.6
96.2
61.5

92.1
91.7
64.9

116.8
116.4
76.9

120.7
120.1
85.6

130.3
129.9
92.0

139.3
138.3
95.0

153.0
152.7
97.5

113.5
112.9
71.2

96.4
95.9
56.6

85.1
84.5
48.0

71.9
48.0

'107.8
'70.5

'123.6
'83.9

109.9
72.9

1,044
650

938
651

1,184
760

1,277
867

1,411
971

1,482
1,032

1,519
1,009

1,550
1,019

1,535
974

1,660
993

1,215
791

'1,297
'838

1,340
'900

1,152
753

1,182
655

1,552
982

1,191
710

824
485

864
508

1,094
641

1,232
763

1,355
840

1,518
884

1,351
820

1,366
809

1,249
753

1,214
715

1,165
677

1,153
678

'1,186
'689

277.4

221.5

18.2
206

15.5
165

15.4
166

17.0
207

20.0
208

21.5
239

23.6
236

17.8
239

16.0
261

15.8
233

17.3
256

21.5
255

24.0
265

SURVEY OF CURRENT BUSINESS

June 1981
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS

1979

1980

Annual

S-9
1981

1980
Apr.

May

June

July

Aug.

Sept.

Oct.

Nov.

Dec.

Jan.

Feb.

Mar.

Apr.

May

CONSTRUCTION AND REAL ESTATE—Continued
CONSTRUCTION COST INDEXES
199.6
216.3
Dept of Commerce composite
1972—100..
220.9
American Appraisal Co., The:
2,357
2,495
2,418
Average, 30 cities
1913=100..
2506
2660
2561
Atlanta
do
2431
2553
New York
..
do....
2510
2498
San Francisco
do
2671
2609
2424
2343
St Louis
do....
2261
Boeckh indexes:
Average, 20 cities: @
170.5
Apartments hotels office buildings 1972—100..
1860
179.0
Commercial and factory buildings
do....
195.2
176.6
1860
Residences
do....
Engineering News-Record:
Building
1967= 100..
269.3
287.7
282.6
279.5
Construction
do....
301.4
293.3
Federal Highway Adm.—Highway construction:
Composite (avg. for year or qtr.)
1977=100..
'142.6
'163.0
CONSTRUCTION MATERIALS
Output indexes:
Iron and steel products
1947-49—100..
165.6
Lumber and wood products
do....
191.2
Portland cement
do....
225.2
REAL ESTATE U
Mortgage applications for new home construction:
133.8
FHA net applications
thous. units..
10.0
141.4
Seasonally adjusted annual rates
do
110
216.1
Requests for VA appraisals
do....
14.9
202.2
Seasonally adjusted annual rates
do....
159
Home mortgages insured or guaranteed by:
Fed Hous. Adm * Face amount
mil. $ 18 166 74 16 458 53 136796
Vet Adm ° Face amount §
do 16 505 50 13 855 54 1 148 69
Federal Home Loan Banks, outstanding advances
to member institutions, end of period
mil. $..
41,838
48,963 44,660
New mortgage loans of all savings and loan
associations estimated total .. .
. mil $
4 581
100 546
72537
By purpose of loan:
Home construction
. .
do
20583
969
14946
Home purchase
do....
62740
42957
2793
All other purposes
do
17223
819
14634

218.8

222.6

223.7

223.9

224.3

224.6

225.2

226.1

227.3

227.7

'231.0

232.3

2,430
2563
2509
2607
2259

2,502
2672
2528
2626
2367

2,531
2726
2580
2722
2383

2,551
2735
2589
2732
2398

2,545
2717
2577
2717
2384

2,547
2711
2,575
2730
2,395

2,556
2715
2,579
2738
2,399

2,566
2723
2587
2744
2406

2,578
2773
2621
2820
2396

2,581
2781
2639
2821
2357

2,576
2788
2629
2834
2346

2,600
2807
2644
2855
2361

1831
191.7
1850
279.9
2922

1926
201.8
1888

1878
197.3
1857
284.1
2977

289.0
3035

292.1
3076

292.4
3090
r

'168.3

1940
203.2
1914
292.5
3097

296.0
3125

163.1

16.5
185
20.3
242

1948
204.7
1926
298.6
3143

298.2
3139

1971
2068
1949
298.4
3140

9.6
133
12.9
188

2012
211 1
1995
305.5
3214

'307.3
»323 3

11.3
125
18.2
194

8.8
87
15.5
183

1600

'161.8

12.9
137
19.8
211

298.0
3150

11.3
176
11.3
169

7.4
129
12.5
177

8.3
119
14.9
191

92669
84802

91870 132406 150658 1 461 37 1 584 55 1 242 93 135114
74056 817 14 944 oo 162390 1 13339 1 135 18 954 90

95533
91726

84936
74520

98370 1 121 55
70641 76970

98342
583 44

43,366

42,364

41,473

42,605

44,161

46,115

47,322

48,963

48,581

48,206

49,175

51,530

53,148

3241

4 130

5 711

8339

9500

9336

6574

6942

4 285

3676

'4 923

5439

706
1848
687

915
2374
841

1 238
3498
975

1556
5208
1575

1803
5708
1989

1886
5552
1898

1391
3821
1362

1454
3748
1740

1029
2315
941

888
1966
822

'1 224
'2538
'1 161

1 363
2737
1 339

12.3
116
14.8
166

10.9
123
17.4
209

15.4
163
22.3
246

15.6
186
21.0
243

13.0
148
17.3
190

DOMESTIC TRADE
ADVERTISING
McCann-Erickson national advertising index,
seasonally adjusted:
Combined index
1967=100..
Network TV
do....
Spot TV
.
do
Magazines
do....
Newspapers
do....
Magazine advertising (Publishers Information
Bureau):
Cost total
.. .
mil $
Apparel and accessories
do....
Automotive, incl. accessories
do....
Building materials
do....
Drugs and toiletries
.. do
Foods, soft drinks, confectionery
do....
Beer wine liquors
do
Houshold equip., supplies, furnishings
do....
Industrial materials
do
Soaps cleansers etc
do
Smoking materials
do....
All other
do .
Newspaper advertising expenditures (64 cities): $
Total
mil. $..
Automotive
do
Classified
do
Financial
do....
General .
.
do
Retail
do
WHOLESALE TRADE t
Merchant wholesalers sales (unadj.), total
mil. $..
Durable goods establishments
do....
Nondurable goods establishments
do....
Merchant wholesalers inventories, book value,
end of year or month (unadj.), total
mil. $..
Durable goods establishments
do....
Nondurable goods establishments
do....
See footnotes at end of tables.




274
312
293
235
246

297
332
342
236
270

302
343
339
252
261

311
360
329
263
276

305
341
335
243
294

326
370
349
280
291

314
363
360
253
265

294
330
354
227
259

'2,634.0
'91.9
'212.6
'46.4
'262.1
'200.5
'234.0
'132.5
69.9
'35.0
'278.2
'1,070.8

2,846.1
111.7
229.5
48.3
283.2
211.6
238.9
138.8
70.8
29.8
289.7
1,198.0

261.3
13.2
20.2
6.2
25.4
18.8
20.3
14.9
7.1
3.1
24.4
107.7

266.9
8.9
23.9
6.5
28.3
15.3
20.2
16.5
6.6
3.2
24.8
112.9

234.4
5.9
20.1
5.0
24.9
17.3
22.9
11.8
5.8
2.2
24.3
94.2

170.8
5.3
12.7
3.0
21.0
15.2
13.7
7.9
3.4
0.9
21.3
66.3

175.3
7.8
8.4
2.9
23.6
13.4
11.9
7.9
4.0
2.3
23.1
69.9

251.0
15.9
12.0
5.2
27.8
14.4
16.7
12.3
7.4
3.3
25.6
110.5

275.2
13.0
24.3
4.6
25.9
19.6
22.0
14.6
7.2
3.1
24.9
116.0

311.5
11.9
27.3
3.9
27.4
29.4
27.6
18.4
7.6
2.7
24.2
131.2

254.3
9.7
22.1
2.4
22.6
18.4
36.9
10.8
4.5
1.4
23.4
102.2

184.3
6.7
14.8
2.3
C
18.1
9.0
11.5
8.9
4.3
1.9
20.7
C
86.0

225.7
6.2
24.0
3.2
C
24.9
17.9
14.4
7.8
3.8
1.9
24.8
C
96.8

268.0
12.1
25.7
3.2
C
27.4
18.4
17.8
11.6
5.8
2.1
30.0
C
113.9

288.3
14.4
27.2
4.8
31.6
19.4
19.6
14.8
6.0
3.0
29.8
117.8

'7,641.3
'196.0
'2,179.3
'243.8
'982.1
'4,040.1

8,192.3
183.6
2,191.8
298.0
1,122.7
4,396.3

669.4
15.5
177.7
30.0
101.3
344.9

706.7
15.9
182.3
25.9
103.0
379.6

695.2
14.7
188.3
24.9
96.5
370.8

586.3
12.9
172.0
24.3
72.1
305.0

675.0
13.6
196.8
16.0
78.1
370.5

650.2
15.2
180.8
21.9
93.2
339.2

738.4
15.6
183.8
27.7
105.9
405.4

810.0
16.7
185.3
24.4
113.7
469.9

680.5
11.3
136.2
27.9
76.6
428.5

671.2
16.2
197.7
33.9
100.6
322.7

703.8
19.4
199.2
24.6
113.3
347.4

840.3
22.5
235.0
31.2
136.2
415.4

816.6
18.4
215.6
30.9
1265
425.2

915,163 1,043,886
410,079 438,439
505,084 605,447

83,106
35,913
47,193

83,507
34,947
48,560

81,607
35,508
46,099

86,052
35,757
50,295

86,311
36,010
50,301

90,715
38,112
52,603

99,023
41,298
57,725

91,328
36,679
54,649

97,659
38,598
59,061

93,845
35,927
57,918

89,641 '101,273
37,054 '41,991
52,587 '59,282

99,650
42,236
57,414

105,449
66,716
38,733

97,467
63,506
33,961

97,480
64,620
32,860

97,785
65,133
32,652

98,387 100,205 101,310 104,277 105,866 105,449 105,446 107,209 '107,907 106,829
64,730 65,894 65,273 65,137 65,857 66,716 66,230 68,251 '69,208 70,050
33,657 34,311 36,037 39,140 40,009 38,733 39,216 38,958 '38,699 36,779

93,778
59,198
34,580

2,635
2805
2640
2855
2485

S-10

SURVEY OF CURRENT BUSINESS

Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS

1979

1980

June 1981

1980
Apr.

Annual

May

June

July

Aug.

1981
Sept.

Oct.

Nov.

83,816 100,755
25,121 28,093

Dec.

Jan.

Feb.

Mar.

Apr.

77,361
23,239

74,321 '84,652 '85,662 187,781
23,857 '28,295 '27,604 '27,542

3,351
2,360
565
13,351
11,926
1,425

3,359 '4,043 '4,533
3,034
2,360 '2,785
'655
775
538
14,370 '17,336 '16,205
13,011 '15,745 14,523
1,682
1,359
'1,591
3,351
'3,716 '3,619
2,020 '2,260
2,249
1,038
976 '1,088

May

DOMESTIC TRADE—Continued
RETAIL TRADE
AD retail stores: t
Estimated sales (unadj ) total t
n^il $
Durable goods stores -fa
do
Building materials, hardware, garden supply,
and mobile home dealers #
mil. $..
Building materials and supply stores .. do....
Hardware stores
do
Automotive dealers $
do
Motor vehicle dealers
do....
Auto and home supply stores
do....
Furniture, home furn., and equip #
do....
Furniture, home furnishings stores
do....
Household appliance, radio, TV
do....
Nondurable goods stores
General merch. group stores
Department stores
Variety stores

do....
do....
do
do....

Food stores
do....
Grocery stores
.
do
Gasoline service stations
do....
Apparel and accessory stores #
do....
Men's and boys' clothing
do
Women's clothing, spec, stores, furriers do....
Shoe stores
do....
Eating and drinking places
Drug and proprietary stores
Liquor stores

do....
do....
do

894,343

956,655

75,154

79,202

77,366

79,860

81,740

77,579

84,000

304,809

297,926

23,652

24,247

24,747

26,032

25,256

24,506

26,698

50,272
35,255
7,838

48,210
33,682
7,743

3,899
2,647
647

4,287
2,865
720

4,259
2,942
666

4,247
3,028
671

4,289
3,071
641

4,434
3,215
642

4,152
2,936
659

3,971
2,616
825

177,251
161,110
16,141

167,017
148,799
18,218

13,595
12,037
1,558

13,487
11,924
1,563

15,176
13,527
1,649

14,211
12,600
1,611

13,489
11,965
1,524

13,264
11,699
1,548

13,016
11,365
1,651

41,868
25,692
12,428
589,534
109,740
2
88,520
8,385
195,826
182,365
73,202

43,198
26,228
13,190
658,729
116,287
94,185
8,856
217,511
202,065
94,470
44,487
8,025
16,991
8,040
86,612
31,557
16,556

3,326
2,048
956

3,444
2,123
1,006

3,636
2,172
1,139

3,712
2,244
1,119

3,626
2,170
1,083

3,822
2,309
1,126

4,048
2,421
1,207

51,502
8,614
6,927
712

54,955
9,476
7,682
737
18,756
17,478
8,008

53,828
8,630
6,974
679
18,640
17,343
8,504

56,484
9,640
7,834
741
19,115
17,812
8,470

53,073
8,923
7,299
635
17,712
16,474
7,982

58,695
11,821
9,642
787
18,485
17,195
7,951

3,475
574
1,337
697

3,523
615

3,263
563
1,272
577

3,913
683

3,586
608

1,468
724

1,409
693

7,052
2,483
1,269

7,920
2,563
1,420
79,829

23,589

7,635
2,518
1,398
79,491
25,071

7,276
2,507
1,277

76,404
23,011

7,488
2,598
1,394
75,975
22,544

57,302
10,105
8,198
735
18,853
17,561
8,244
3,931
702
1,546
724
7,518
2,693
1,347

4,905
2,566
1,634
72,662
18,365
14,859
1,397

17,223
15,951
7,619

14,098
12,542
1,556
3,389
2,053
1,044
52,619
8,713
7,066
679
17,638
16,356
8,254
3,295
633
1,223
604
7,475
2,499
1,348
77,843

4,672
3,398
692
15,027
13,330
1,697

24,593

80,620
25,094

81,552
25,293

7,142
2,655
1,407
82,764
26,007

3,846
2,715
614
12,508
11,013
1,495

3,828
2,698
626
12,142
10,646
1,496

3,792
2,634
622
13,174
11,689
1,485

3,808
2,633
634
14,451
12,871
1,580

3,844
2,670
633
13,940
12,389
1,551

4,039
2,820
639
14,173
12,661
1,512

4,084
2,863
646

4,251
2,963
662

4,261
2,963
689

14,258
12,695
1,563

14,593
13,042
1,551

3,524
2,109
1,051

3,524
2,115
1,055

3,626
2,144
1,130
54,420
9,506
7,715
731

55,526
9,649
7,840
722

3,682
2,210
1,093
56,259
9,940
8,045
739

3,802
2,267
1,137

53,431
9,410
7,629
736

3,628
2,168
1,099
55,236
9,722
7,905
740

3,702
2,233
1,097

53,393
9,266
7,489
726

3,484
2,059
1,084
54,254
9,417
7,622
736

56,757
10,025
8,171
732

14,413
12,827
1,586
3,817
2,241
1,151
57,460
10,093
8,146
738

17,725
16,478
7,727

17,591
16,365
7,737

18,088
16,805
7,918

18,405
17,078
7,998

3,574
613
1,393
648
7,102
2,549
1,390

3,633
654
1,387
664
7,044
2,580
1,379

3,675
674
1,404
663
7,096
2,604
1,346

3,785
736
1,435
677
7,135
2,623
1,367

18,577
17,250
7,990
3,724
699
1,416
670
7,276
2,667
1,348

18,592
17,267
8,090
3,771
702
1,431
672
7,371
2,742
1,369

18,808
17,457
8,130
3,777
683
1,438
687
7,416
2,760
1,371

42,375
7,830
15,802
7,127
79,576
28,107
15,294

Estimated sales (seas adj ) total t
do
Durable goods stores #
.
do .
Building materials, hardware, garden supply,
and mobile home dealers #
mil. $..
Building materials and supply stores do
Hardware stores
. • .. do..
Automotive dealers
do....
Motor vehicle dealers
do
Auto and home supply stores
do....
Furniture home furn and equip. $
do....
Furniture home furnishings stores
do
Household appliance radio" TV
do....
Nondurable goods stores
General merch group stores
Department stores . ..
Variety stores

do....
do
do....
do

2

()

Food stores
do
Grocery stores
do....
Gasoline service stations
do....
Apparel and accessory stores $
do
Men's and boys' clothing
do....
Women's clothing spec stores furriers do
Shoe stores
do....
Eating and drinking places
do
Drug and proprietary stores
do.
Liquor stores
do
Estimated inventories, end of year or month: t
Durable goods stores #
do....
Building materials and supply stores .. do....
Automotive dealers
do
Furniture, home furn., and equip
do....
Nondurable goods stores 4t
•
do
General merch group stores
do
Department stores
do....
Food stores
do
Apparel and accessory stores
do....
Book value (seas adj ) total
.
do
Durable goods stores $
do
Building materials and supply stores .. do....
Automotive dealers
do....
Furniture, home furn., and equip
do....
Nondurable goods stores #
do....
General merch. group stores
do....
Department stores
do....
Food stores
do
Apparel and accessory stores
do....
Firms with 11 or more stores:
Estimated sales (unadjusted), total

106,169
52,691
8,609
26,763
8,146
53,478
18,628
13,734
11,517
8,547
108,835
53,274
8,986
26,524
8,287
55,561
20,456
14,993
11,414
8,875

1,358
656

17,953
16,690
7,983
3,687
679
1,399
667
7,085
2,587
1,371

4,179
801
1,582
750

20,212
18,506
8,350
6,335
1,283
2,339
942
7,510
3,775
1,926
83,443
25,983

19,098
17,709
8,284
3,789
666
1,450
677
7,563
2,755
1,386

3,616
2,152
1,074

54,122
7,279
5,873
566
19,195
17,830
8,047
3,279
565
1,258
614
7,065
2,722
1,275
85,463
27,075
4,596
3,246
731
14,965
13,355
1,610

58,388
9,994
8,078
775
19,072
17,601
8,497
3,945
642
1,549
728
7,885
2,815
1,390

19,112 '19,522 '19,711 '19,794
17,632 '18,098 '18,162 '18,202
8,596 '8,613 '8,530 '8,561
4,022 '3,947 '3,943 '3,957
681
653
'660
1,557
1,555
'1,502
724
755
'745
7,876 '8,006 '7,850 '7,840
2,768 '2,770 '2,824 '2,834
1,403
1,404
'1,386

4,016
2,404
1,201

108,717 110,867 109,997 109,454 109,268 108,482 111,826 117,264 119,039 108,717 108,147 '110,635 113,677
51,159 53,895 53,108 52,418 51,306 49,619 49,678 51,457 52,807 51,159 51,904 '52,409 52,983
Q CQC
8,927
8,816
9,151
9,059
8,975
8,909
8,695
9,573
8,878
8,902
0,000
9,389
9,109
24,457 26,300 25,731 24,983 24,081 22,159 21,821 22,913 24,031 24,457 24,931 24,783
24,580
8,420
8,671
7,975 r8,146
8,463
8,525
8,008
8,382
8,008
8,413
8,269
8,380
8,391
57,558 56,972 56,889 57,036 57,962 58,863 62,148 65,807 66,232 57,558 56,243 '58,226 60,694
19,894 21,181 21,082 21,066 21,363 21,898 23,439 25,328 25,460 19,894 19,397 '20,593 22,016
14,819 15,429 15,383 15,376 15,508 15,933 17,031 18,461 18,824 14,819 14,366 '15,190 16,275
12,471 11,586 11,570 11,710 11,745 11,791 12,003 12,673 12,957 12,471 12,167 '12,527 12,884
8,624 '9,060
8,736
9,120
9,453
9,120
8,617
9,015
9,388 10,088 10,493 10,556
8,729
111,694 109,745 109,498 109,438 110,003 110,283 111,711 113,106 112,639 111,694 111,790 '113,507 113,340
51,853 52,282 51,648 51,453 51,249 51,675 51,738 52,066 52,209 51,853 52,234 '52,374 51,757
9,008
9,102
9,061
9,096
9,285
9,076
8,916
8,869
8,965
9,082
9,076
9,045
8,861
24,263 24,905 24,366 24,045 23,866 24,191 24,138 24,298 24,447 24,263 24,491 24,273 23,342
8,328
8,346
8,285
8,196
'8,346
8,163
8,438
8,344
8,372
8,163
8,458
8,379
8,383
59,841 57,462 57,851 57,985 58,754 58,608 59,972 61,040 60,430 59,841 59,556 '61,133 61,583
21,861 21,308 21,315 21,365 21,603 21,549 21,991 22,581 22,310 21,861 21,614 '22,386 22,606
16,178 15,444 15,476 15,594 15,841 15,791 16,128 16,439 16,326 16,178 15,980 '16,583 16,675
12,372 11,609 11,652 11,722 11,876 11,983 12,112 12,292 12,411 12,372 12,315 '12,795 12,832
9,487
9,394 '9,679
9,470
8,962
9,025
9,518
9,656
8,784
9,162
9,195
9,481
9,470
324,279
23,390
3,501

24,983

26,939

27,678

25,927

1,910
313

1,935
306

1,904
293

2,175
303

39,694
3,101
320

25,080 '23,689

1,938
303

28,491
2,057
321

30,205

1,792
302

25,215
1,887
305

25,841

22,568
3,338

1,565
250

1,865
295

Nondurable goods stores #
General merchandise group stores
Department stores
Variety stores
Miscellaneous general stores

do....
do....
do....
do....
do....

274,025
95,933
83,857
6,258
5,818

300,889
101,963
89,229
6,627
6,107

23,191
7,514
6,559
523
432

25,001
8,302
7,280
542
480

23,328
7,642
6,700
501
441

23,931
7,546
6,616
500
430

25,743
8,477
7,438
555
484

24,023
7,842
6,914
482
446

26,434
8,837
7,757
551
529

28,030
10,448
9,127
610
711

36,593
16,193
14,054
1,085
1,054

23,474 '22,124
6,314
'6,268
5,564 '5,491
414
'416
336
'361

25,400
7,943
6,986
510
447




'3,696

4,596 '4,481 '4,434 '4,439
3,083
3,233 '3,126
736
738
'731
16,315 '16,330 '14,503 '14,621
14,603 '14,688 12,909
1,594
1,712
'1,642
3,888 '3,897 '3,833 '3,826
2,319
2,307
'2,313
1,163
1,156
'1,185
58,482 '59,179 '59,472 '59,469
10,306 '10,306 '10,534 '10,510
8,381
'8,443 '8,603 '8,607
783
770
'762

do....
do....

See footnotes at end of tables.

'15,615

50,464 '56,357 '58,058 '60,239
7,160
'8,972 '9,934 1 10,398
5,783 '7,337 '8,087 '8,512
557
778
'663
17,477 '18,837 '19,425 '20,684
16,133 '17,410 '17,817 1 19,057
7,616
'8,380 '8,428 '8,784
2,911
'3,448 '3,982 '3,779
628
494
'552
1,141
1,539
'1,355
820
530
'665
6,742 '7,710 '7,905 '8,279
2,530 '2,701 '2,762 '2,814
1,287
1,195
'1,247
86,810 '87,608 '85,745 '85,890
28,328 '28,429 '26,273 '26,421

Durable goods stores
Auto and home supply stores

mil. $.. 296,593

'4,834

1,606
260

27,265

S-ll

SURVEY OF CURRENT BUSINESS

June 1981
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS

1979

1980

1981

1980

Annual

Apr.

May

June

July

Aug.

Sept.

Oct.

Nov.

Dec.

Jan.

Feb.

Mar.

Apr.

May

229.28

229.44

DOMESTIC TRADE—Continued
RETAIL TRADE—Continued
Firms with 11 or more stores—Continued
Estimated sales (unadjusted)—Continued
Nondurable goods stores—Continued
Food stores
mil. $..
Grocery stores
...
..
do
Apparel and accessory stores $
do
Women's clothing, specialty stores,
furriers
.
mil $
Family clothing stores
do....
Shoe stores
.. . . do
Eating places
.
do
Drug stores and proprietary stores
do....
Estimated sales (sea adj ) total #
Auto and home supply stores
Department stores
Variety stores
Grocery stores

Total (seasonally adjusted)
Durable goods stores
Nondurable goods stores
Charge accounts
Installment accounts

113,214
111 857

8,890
8775

15204

1 196

9761
9653
1200

5876
3,455
3420
15 165
13,720

6191
3,664
3707
17011
15,665

491
264
332
1398
1,211
26073
287
7083
543
9093
1210
508
302
1250

do
do ..
do
do....
do

Apparel and accessory stores . ..
do
Women's clothing, spec, stores, furriers., do....
Shoe stores
do
Drug stores and proprietary stores
do....
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

102,496
101 270
14285

do
do....
do....
do....
do....
do....
do....

40387
11391
28,996
12268
28119
37437
11,194
26,243
11,743
25,694

9608
9497
1068

9,898
9788

9,209
9105

9,940
9832

9,764
9653

10,652
10486

10,281
10 153

1404

1227

1354

1468

2312

979

503
282
297
1457
1286
26226
288
7229
545
9055
1233
505
307
1282

450
467
270
259
269
242
1409
1493
1260
1237
26570 26849
298
284
7294
7235
549
546
9366
9239
1 244 1255
509
520
301
301
1295
1318

554
347
345
1567
1292
27344
298
7475
556
9512
1278
513
311
1328

496
282
325
1427
1,233
27368
296
7418
550
9604
1257
513
307
1340

555
325
332
1502
1,297
27752
293
7620
565
9630
1291
518
313
1360

595
359
343
1447
1,330
28074
295
7768
558
9672
1297
526
314
1361

912
630
460
1505
2,055
28359
298
7735
557
9883
1324
528
317
1361

384
240
251
1413
1,317
28474
308
7696
572
9810
1328
538
317
1395

36566
10914
25,652
11 493
25073

36220
10*832
25388

36157
10973
25,184

11250
24970

11 371
24786

36046
11 138
24908
11 426
24620

37108
11,066
26042

36434
10,763
25671

36526
10,790
25736

36972
10,938
26034

(a)
(2)
(')
(22)
()
(a)
(a)
(«)

11375
25,733

10929
25,505

11256
25,270

11716
25,256

<•>

228.67

228.83

9,003
8897

1 107

r

9,207
'9058
r

9,883
9743

926

1215

r
384
r
r

29 091
329
r
7958
r
585
r
9899
r
!387
'573
'342
'1390

510
280
307
1550
1,345
29227
311
8021
574
10128
1 412
584
337
1394

228.98

229.12

216
235
1336
r
l,226
r

(a)

LABOR FORCE, EMPLOYMENT, AND EARNINGS
POPULATION OF THE UNITED STATES
Total, incl. armed forces overseas $
LABOR FORCE
Not Seasonally Adjusted
Labor force, total, persons 16 years of age
and over
Armed forces
Civilian labor force total
Employed
Unemployed
Seasonally Adjusted 1
Civilian labor force total
Participation rate *
Employed total
Employment-population ratio *
Agriculture
Nonagriculture .
..

mil..

thous
do....
do
do ..
do
do
percentthous
percentthous
do

Unemployed, total
do....
Long term, 15 weeks and over
do....
Rates (unemployed in each group as percent
of civilian labor force in the group):
All civilian workers
Men 20 years and over
Women 20 years and over
Both sexes 16-19 years
White
Black and other
Married men spouse present
Married women spouse present
Women who maintain families
Occupation:
White-collar workers
Blue-collar workers
Industry of last job (nonagricultural):
Private wage and salary workers
Construction
Manufacturing
....
Durable goods
EMPLOYMENT t
Employees on payrolls of nonagricultural estab.:
Total, not adjusted for seasonal variation ....thous..
Private sector (excl. government)
do....

1

225.06

104 996
2,084
102908
96945
5963

rl

227.66

227.02

227.20

227.46

227.66

227.86

228.09

228.30

228.50

106 821 105 505 106 115 108 159 109095 108 240 106 841 107 536 107406 106902 106796 106 929 107 533 107 807 108 474
2,121
2128
2125
2*121
2 102
2 127
2129
2 124
2119
2 121
2114
2099
2088
2092
2092
104719 103 412 104028 106067 106 997 106 126 104 720 105 415 105287 104 778 104 671 104 808 105 405 105 678 106347
97270 96566 96709 97776 98587 98115 97256 97*933 97801 97545 96128 96383 97318 98282 98803
7545
7396
8087
7448
8425
7233
8543
7486
7482
7464
8410
8291
7318
8011
6846
104 427 105060 104 591 105 020 104 945 104980 105 167 105 285 105 067 105 543 105 681 106177 106722 107406
64.6
64.3
64.0
63.8
63.6
63.8
63.8
63.8
63.8
63.9
64.1
63.8
63.8
63.8
97225 97 116 96780 96999 97003 97 180 97206 97339 97282 97696 97927 98412 98976 99235
59.0
58.3
58.9
58.6
58.4
58.3
58.2
58.2
58.7
58.1
58.3
58.5
58.2
58.3
3353
3463
3281
3276
3210
3394
3403
3340
3319
3399
3352
3262
3267
3232
93963 93764 93548 93732 93793 93781 93887 93999 93888 94294 94646 95136 95513 95882
8,171
7764
7,746
7946
7785
7847
7754
7961
7800
8021
7202
7944
7811
7942
2,168
2,192
2,105
2,329
2,378
2,358
2,292
2,295
2,250
1,935
1,599
1,686
1,777
2,150

63.7

63.8

59.3
3297
93648

58.5
3310
93960

1,202

1,829

5.8
41
57
161
51
11.3
27
51
8.3

71
59
63
17 7
63
13.2
42
58
9.1

69
58
62
164
61
126
40
57
90

76
64
65
189
68
136
46
61
83

75
64
64
18 3
67
135
46
60
85

76
66
66
187
68
139
49
61
88

76
65
65
188
67
137
48
60
90

74
66
62
178
65
14.1
47
57
9.0

76
64
67
185
66
142
46
60
10.2

75
64
67
186
66
14.0
44
59
9.9

74
62
68
178
65
14.0
43
58
10.4

74
60
67
190
67
12.9
4.2
62
10.5

73
60
65
193
66
13.1
4.1
58
9.6

73
59
66
191
65
13.7
4.1
60
9.4

73
58
66
191
65
13.2
3.8
59
9.8

7.6
63
68
195
68
13.6
4.1
59
10.3

33
6.9

37
100

37
96

38
109

37
11 1

37
113

37
11 1

38
108

39
108

39
10.7

40
10.5

39
10.2

37
10.1

39
9.8

40
9.6

41
10.0

5.7
10.2
55
50

7.4
142
85
89

7.0
145
79
83

8.0
166
97
104

8.0
156
97
109

8.0
158
98
10 7

8.0
173
93
10 1

7.8
15.9
92
100

7.8
146
92
95

7.8
14.8
89
90

7.7
13.8
88
90

7.5
13.3
8.4
83

7.5
13.2
8.4
85

7.3
14.7
8.0
79

7.2
14.4
7.4
7.3

7.8
16.3
7.9
7.3

89,886
73,966

90,652
74,481

90,761
74,110

90,849
74,293

91,049
74,655

89,820
74,270

90,072
74,706

90,729
74,965

91,332
75,080

91,693
75,302

91,846
75,494

90,082
73,948

90,245 '90,817 '91,363 "91,186
73,872 '74,409 '74,976 "75,506

89,886
73,966
52,904
26504
960
4.483

90,652
74,481
54,116
25857
1025
4.468

90,951
74,567
53,925
26 121
1012
4.467

90,468
74,195
53,909
25745
1023
4.436

90,047
73,817
53,803
25422
1029
4.379

89,867
73,710
53,882
25163
1013
4.322

90,142
73,998
54,058
25312
1013
4.359

90,384
74,275
54,231
25476
1,028
4.404

90,710
74,551
54,394
25636
1,037
4.442

90,961
74,797
54,515
25811
1,054
4.475

91,125
74,980
54,668
25892
1,072
4.508

91,481
75,346
55,001
26041
1,086
4.610

91,653 '91,705 '91,490 "91,475
75,487 '75,567 '75,372 "75,403
55,112 '55,191 '54,932 "54,991
25988 26010 '25 830 "25 678
1,095 '1100
'949
"951
4.518 '4.514 '4.441 "4.315

Seasonally Adjusted t
Total employees, nonagricultural payrolls
Private sector (excl. government)
Nonmanufacturing industries
Goods-producing
....
Mining
Construction
See footnotes at end of tables.




do....
do....
do....
do
do....
do....

S-12

SURVEY OF CURRENT BUSINESS

Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS

1979

1980

1980
Apr.

Annual

June 1981

May

June

July

Aug.

1981
Sept.

Oct.

Nov.

Dec.

Jan.

Feb.

Mar.

Apr.

'20,396
'12,222
'691
'478
'662
1,135
'1,610
'2,494
'2,155
'1,879
702
'416
8,174
'1,672
'71
855
1,297
695
1,294
1,118
213
717
242
'65,695
'5,164
'20,917
'5,326
'15,591
'5,284
'18,212
'16,118
'2,786
'13,332

'20,440
'12,259
'690
'485
659
'1,135
'1,618
'2,499
'2,170
'1,881
'703
'419
'8,181
1,669
r72
'857
'1,302
694
1,294
1,117
212
'722
'242
'65,660
'5,162
20,808
'5,338
'15,470
'5,297
'18,275
'16,118
'2,786
'13,332

May

LABOR FORCE, EMPLOYMENT, AND EARNINGS—Continued
EMPLOYMENT t—Continued
Seasonally Adjusted t
Employees on nonag. payrolls—Continued
Goods-producing—Continued
Manufacturing
thous..
Durable goods
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....
Electric and electronic equipment @.... do....
Transportation equipment §
do....
Instruments and related products
do....
Miscellaneous manufacturing
do....
Nondurable goods
do
Food and kindred products
do....
Tobacco manufactures
do....
Textile mill products
do
Apparel and other textile products
do....
Paper and allied products
. do
Printing and publishing
do....
Chemicals and allied products
do
Petroleum and coal products
do....
Rubber and plastics products, nee
do....
Leather and leather products
do....
Service-producing
do....
Transportation and public utilities
do....
Wholesale and retail trade
do....
Wholesale trade
do
Retail trade
... do.
Finance, insurance, and real estate
do....
Services
.
. ... do
Government
do....
Federal
.
.
. . do
State and local
do....
Production or nonsupervisory workers on private
nonagric. payrolls, not seas, adjusted
thous..
Manufacturing
do....
Seasonally Adjusted t
Production or nonsupervisory workers on private
nonagricultural payrolls f
thous..
Goods-producing
do
Mining
do....
Construction
. do
Manufacturing
do....
Durable goods
. 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
Electric and electronic equipment @.... do....
Transportation equipment §
do....
Instruments and related products
do....
Miscellaneous manufacturing
do....
Nondurable goods
do....
Food and kindred products
do....
Tobacco manufactures
do
Textile mill products
do....
Apparel and other textile products
do....
Paper and allied products
do....
Printing and publishing
do....
Chemicals and allied products
do....
Petroleum and coal products
do....
Rubber and plastics products, nee
do....
Leather and leather products
do....
Service-producing
do
Transportation and public utilities
do....
Wholesale and retail trade
doWholesale trade
do
Retail trade
do
Finance, insurance, and real estate
do....
Services
do....
AVERAGE HOURS PER WEEK t
Seasonally Adjusted
Avg. weekly hours per worker on private nonagric.
payrolls: H Not seasonally adjusted
hours..
Seasonally adjusted
do....
Mining $
do
Construction
do....
Manufacturing:
Not seasonally adjusted
do....
Seasonally adjusted
do
Overtime hours
. ... do....
Durable goods
do....
Overtime hours
do
Lumber and wood products
do....
Furniture and fixtures
do....
Stone, clay, and glass products
do....
Primary metal industries
do....
See footnotes at end of tables.




21,062
12,772
766
499
710
1,250
1,724
2,482
2,124
2,083
689
446
8,290
1,728
70
888
1,312
707
1,240
1,111
210
776
248
63,382
5,141
20,269
5,204
15,066
4,974
17,078
15,920
2,773
13,147

20,365
12,218
687
474
668
1,133
1,627
2,488
2,127
1,892
700
422
8,147
1,689
69
864
1,298
694
1,272
1,113
197
711
240
64,795
5,155
20,571
5,281
15,290
5,162
17,736
16,171
2,867
13,304

20,642
12,442
689
491
680
1,193
1,678
2,518
2,167
1,885
703
438
8,200
1,690
69
884
1,302
702
1,272
1,123
175
740
243
64,830
5,178
20,531
5,286
15,245
5,119
17,618
16,384
3,115
13,269

20,286
12,140
654
472
663
1,144
1,620
2,517
2,127
1,819
700
424
8,146
1,691
70
869
1,291
692
1,268
1,120
203
703
239
64,723
5,167
20,487
5,268
15,219
5,137
17,659
16,273
2,960
13,313

20,014
11,947
648
461
647
1,096
1,584
2,476
2,094
1,831
696
414
8,067
1,677
71
843
1,287
685
1,269
1,112
205
681
237
64,625
5,134
20,459
' 5,245
15,214
5,150
17,652
16,230
2,951
13,279

19,828
11,819
650
449
641
1,049
1,551
2,448
2,079
1,839
698
415
8,009
1,683
69
833
1,276
680
1,266
1,103
207
663
229
64,704
5,114
20,506
5,247
15,259
5,167
17,760
16,157
2,893
13,264

19,940
11,860
662
456
648
1,059
1,569
2,437
2,083
1,840
697
409
8,080
1,690
67
851
1,296
682
1,266
1,100
208
680
240
64,830
5,129
20,589
5,263
15,326
5,180
17,788
16,144
2,828
13,316

20,044
11,955
674
464
655
1,074
1,587
2,452
2,091
1,851
697
410
8,089
1,672
68
851
1,299
686
1,269
1,104
208
692
240
64,908
5,124
20,620
5,280
15,340
5,194
17,861
16,109
2,765
13,344

20,157
12,043
677
466
656
1,096
1,595
2,469
2,107
1,873
697
407
8,114
1,682
69
856
1,292
690
1,272
1,105
209
699
240
65,074
5,147
20,641
5,292
15,349
5,214
17,913
16,159
2,788
13,371

20,282
12,146
683
469
661
1,119
1,606
2,475
2,120
1,901
701
411
8,136
1,686
71
856
1,291
692
1,278
1,108
209
705
240
65,150
5,132
20,660
5,297
15,363
5,225
17,969
16,164
2,790
13,374

20,312
12,160
688
472
660
1,133
1,608
2,480
2,135
1,868
701
415
8,152
1,684
70
857
1,291
693
1,284
1,112
210
711
240
65,233
5,137
20,638
5,302
15,336
5,245
18,068
16,145
2,789
13,356

20,345
12,188
693
475
663
1,133
1,608
2,484
2,147
1,866
702
417
8,157
1,680
70
858
1,289
694
1,284
1,115
213
713
241
65,440
5,142
20,762
5,315
15,447
5,268
18,133
16,135
2,801
13,334

20,375
12,196
692
477
661
1,134
1,610
2,491
2,149
1,865
700
417
8,179
1,685
71
856
1,293
696
1,289
1,118
213
716
242
65,665
5,156
20,885
5,328
15,557
5,277
18,181
16,166
2,794
13,372

60,442
15,085

60,589
14,281

60,311
14,466

60,458
14,172

60,730
14,093

60,349
13,657

60,749
13,947

60,991
14,182

61,086
14,204

61,267
14,260

61,427
14,199

59,896
14,049

59,781 '60,261 '60,827 "61,307
14,046 '14,127 '14,203 "14,260

60,442
19,386
721
3,581
15,085
9,120
653
407
560
984
1,304
1,632
1,394
1,427
420
340
5,965
1,187
55
774
1,124
536
701
633
137
607
211
41,057
4,304
17,818
4,274
13,544
3,774
15,161

60,589
18,560
763
3,516
14,281
8,470
575
383
518
870
1,207
1,601
1,354
1,228
418
317
5,811
1,156
54
752
1,109
524
715
627
124
548
203
42,028
4,302
18,044
4,316
13,728
3,905
15,777

60,725
18,814
755
3,509
14,550
8,686
577
398
530
924
1,252
1,630
1,400
1,220
423
332
5,864
1,157
54
771
1,111
532
715
637
109
573
205
41,911
4,329
18,029
4,334
13,695
3,873
15,680

60,325
18,438
764
3,488
14,186
8,386
544
380
513
877
1,195
1,622
1,358
1,159
419
319
5,800
1,157
55
756
1,100
522
709
632
131
537
201
41,887
4,314
17,975
4,308
13,667
3,893
15,705

59,964
18,144
770
3,443
13,931
8,205
538
369
498
832
1,166
1,586
1,320
1,172
415
309
5,726
1,143
55
731
1,097
515
711
625
131
518
200
41,820
4,280
17,936
4,284
13,652
3,898
15,704

59,888
17,901
757
3,385
13,759
8,084
542
359
492
793
1,136
1,561
1,305
1,172
414
310
5,675
1,149
54
721
1,093
509
708
616
132
502
191
41,987
4,260
17,984
4,288
13,696
3,917
15,826

60,136
18,035
753
3,410
13,872
8,123
553
366
498
822
1,152
1,551
1,309
1,171
415
306
5,749
1,157
52
739
1,107
512
710
615
133
521
203
42,101
4,272
18,046
4,297
13,749
3,926
15,857

60,363
18,181
766
3,443
13,972
8,212
563
374
505
817
1,170
1,568
1,315
1,181
414
305
5,760
1,140
54
740
1,108
515
714
619
133
533
204
42,182
4,276
18,074
4,307
13,769
3,930
15,902

60,567
18,313
772
3,476
14,065
8,288
566
376
506
838
1,178
1,578
1,323
1,207
414
302
5,777
1,149
54
743
1,104
519
712
619
133
540
204
42,254
4,296
18,099
4,317
13,782
3,940
15,919

60,785
18,461
783
3,499
14,179
8,381
571
378
511
860
1,189
1,578
1,335
1,238
416
305
5,798
1,154
55
744
1,104
521
716
623
133
544
204
42,324
4,281
18,106
4,318
13,788
3,947
15,990

60,901
18,521
796
3,530
14,195
8,386
577
381
510
873
1,191
1,575
1,347
1,206
417
309
5,809
1,152
54
745
1,103
523
721
624
134
550
203
42,380
4,286
18,077
4,325
13,752
3,961
16,056

61,206
18,657
806
3,630
14,221
8,410
580
383
512
874
1,190
1,581
1,355
1,208
416
311
5,811
1,149
54
744
1,101
524
720
627
136
552
204
42,549
4,277
18,186
4,330
13,856
3,975
16,111

61,289
18,596
811
3,544
14,241
8,411
577
386
511
874
1,191
1,586
1,358
1,205
413
310
5,830
1,153
55
744
1,104
524
723
630
137
555
205
42,693
4,289
18,275
4,336
13,939
3,979
16,150

'61,331
'18,608
'816
'3,537
'14,255
'8,432
'576
385
'510
874
'1,194
'1,591
'1,364
'1,214
415
309
'5,823
'1,144
55
742
'1,108
'524
'723
631
137
555
'204
'42,723
'4,289
'18,283
'4,336
'13,947
3,982
'16,169

'Sl,184
'18,434
'692
'3,456
'14,286
'8,463
'577
'392
508
'874
'1,198
'1,591
'1,373
'1,223
'416
311
'5,823
1,140
r
56
'744
'1,108
'523
722
632
'134
'559
'205
'42,750
'4,290
'18,203
'4,345
'13,858
'3,996
'16,261

"61,170
"18,307
"688
"3,346
"14,273
"8,446
"576
"394
"502
"869
"1,197
"1,601
"1,381
"1,207
"418
"307
"5,827
"1,139
"56
"740
"1,113
"519
"721
"637
"136
"561
"205
"42,863
"4,284
"18,259
"4,342
"13,917
"4,005
"16,315

35.6

35.3

43.0
37.0

43.2
37.0

35.3
35.3
42.8
36.7

35.0
35.1
42.7
36.8

35.3
35.0
43.2
37.1

35.3
34.9
41.9
36.8

35.3
35.1
43.1
36.5

35.3
35.2
43.5
37.4

35.3
35.3
43.5
37.0

35.4
35.4
43.5
37.2

35.6
35.4
44.1
37.1

35.1
35.5
43.5
38.5

34.9
35.3
42.8
36.3

35.2
'35.4
'42.2
37.6

'35.2
'35.4
'43.5
'36.9

"35.2
"35.3
"43.7
"36.8

40.2

39.7

3.3
40.8
3.5
39.4
38.7
41.5
41.4

2.8
40.2
2.8
38.6
38.0
40.8
40.1

39.4
39.8
3.0
40.3
3.0
37.3
38.5
40.6
40.6

39.3
39.3
2.5
39.7
2.5
37.5
37.6
40.3
39.2

39.4
39.1
2.4
39.5
2.4
37.6
37.0
40.4
38.8

38.8
39.0
2.5
39.4
2.4
38.1
36.6
40.2
38.6

39.3
39.4
2.7
39.9
2.6
38.9
37.4
40.3
39.2

39.8
39.6
2.7
40.1
2.7
38.8
38.0
40.9
39.7

39.8
39.7
2.8
40.1
2.8
38.7
38.0
40.9
40.1

40.2
39.9
2.9
40.5
3.0
39.3
38.0
41.1
40.9

40.8
40.1
3.1
40.6
3.2
39.4
38.6
41.3
41.4

39.9
40.4
3.1
40.9
3.1
40.1
38.9
41.6
41.2

39.5
39.8
2.9
40.2
2.9
38.9
38.8
40.6
40.8

39.9
40.0
'2.9
40.5
'3.0
'39.4
38.8
40.9
41.1

39.7
40.1
2.9
40.7
3.0
'39.2
'38.8
'41.1
'41.3

"40.1
"40.2
"3.1
"40.7
"3.2
"39.3
"38.6
"41.1
"41.1

"20,412
"12,238
"691
"487
"652
"1,128
"1,610
"2,513
"2,172
"1,866
"704
"415
"8,174
"1,668
"72
"852
"1,309
"688
"1,290
"1,116
"212
"725
"242
"65,797
"5,163
"20,889
"5,342
"15,547
"5,307
"18,366
"16,072
"2,779
"13,293

S-13

SURVEY OF CURRENT BUSINESS

June 1981
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS

1979

1980
Apr.

Annual

1981

1980
May

June

July

Aug.

Sept.

Oct.

Nov.

Dec.

Jan.

Feb.

Mar.

Apr.

May

LABOR FORCE, EMPLOYMENT, AND EARNINGS—Continued
AVERAGE HOURS PER WEEK t—Cont
Seasonally Adjusted —Continued
Average weekly hours per worker—Cont.
Manufacturing—Continued
Durable goods—Continued
Fabricated metal products §
hoursMachinery, except electrical
do....
Electric and electronic equipment @
do....
Transportation equipment §
do....
Instruments and related products
do....
Miscellaneous manufacturing
do....
Nondurable goods
do....
Overtime hours
do .
Food and kindred products
do....
Tobacco manufactures
. . . do
Textile mill products
do....
Apparel and other textile products
do....
Paper and allied products
do....
Printing and publishing
do....
Chemicals and allied products
do....
Petroleum and coal products
do....
Rubber and plastics products, nee
do....
Leather and leather products
do....
Transportation and public utilities $
do....
Wholesale and retail trade
do....
Wholesale trade
do
Retail trade
do
Finance, insurance, and real estate $
do....
Services
do
AGGREGATE EMPLOYEE-HOURS t
Seasonally Adjusted
Employee-hours, wage & salary workers in nonagric. establish, for 1 week in the month,
seas adj. at annual rate
bil. hours..
Total private sector.
do
Mining
do....
Construction . .
do
Manufacturing
doTransportation and public utilities
do....
Wholesale and retail trade
do .
Finance, insurance, and real estate
do....
Services
.
do
Government
do
Indexes of employee-hours (aggregate weekly): fl
Private nonagric. payrolls, total
1967=100..
Goods-producing
do
Mining
.
do
Construction
do
Manufacturing . .
do
Durable goods
do....
Nondurable goods
do
Service-producing
do . .
Transportation and public utilities
do....
Wholesale and retail trade
do....
Wholesale trade
do....
Retail trade ....
do
Finance, insurance, and real estate
do....
Services
do
HOURLY AND WEEKLY EARNINGS f
Average hourly earnings per worker: ff
Not seasonally adjusted:
Private nonagric. payrolls
dollarsMining
do
Construction
do....
Manufacturing . .
do
Excluding overtime
do.. .
Durable goods
do
Excluding overtime . .
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....
Electric and electronic equipment @ do....
Transportation equipment §
do....
Instruments and related products .... do....
Miscellaneous manufacturing
doNondurable goods
do....
Excluding overtime
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 .... doLeather and leather products
do....
Transportation and public utilities
do....
Wholesale and retail trade
do....
Wholesale trade
do
Retail trade
do....
Finance, insurance, and real estate
do....
Services
do....
See footnotes at end of tables.




r

40.7
41.8
40.3
41.1
40.8
38.8
39.3
31
39.9
380
40.4
35.3
42.6
37.5
41.9
43.8
40.5
36.5
39.9
32.6
38 8
306
36.2
327

40.4
41.1
39.8
40.6
40.5
38.7
39.0
28
39.7
382
40.1
35.4
42.3
37.1
41.5
41.7
40.0
36.7
39.6
32.1
385
302
36.2
326

40.8
41.5
39.9
40.5
40.7
38.5
39.1
30
39.6
382
403
35.8
42.5
372
41.5
41.1
40.1
37.3
39.5
32.0
385
300
36.2
326

39.9
41.0
39.5
39.7
40.3
38.3
38.9
26
39.9
382
397
35.3
41.7
37 1
41.3
42.5
39.3
36.7
39.3
32.1
386
30 1
36.1
325

39.7
40.7
39.2
39.5
40.4
38.2
386
25
39.6
373
391
35.2
41.4
368
41.1
42.3
39.2
36.7
39.6
31.9
380
300
36.4
326

39.6
40.6
39.0
39.6
40.1
38.3
385
26
39.7
385
388
35.1
41.4
369
40.8
42.2
39.0
36.1
39.9
31.8
380
298
36.2
326

40.1
40.8
39.4
40.9
40.1
38.6
387
28
39.8
373
392
35.1
41.8
37 1
41.0
42.2
40.2
36.5
39.7
32.0
382
30 1
36.3
326

40.4
40.9
39.5
40.6
40.1
38.9
388
27
39.7
375
397
35.1
42.2
369
41.3
42.7
40.1
36.2
39.7
32.1
38 5
30 1
36.1
325

40.4
40.7
39.9
40.8
40.2
38.7
390
28
39.6
395
399
35.3
42.2
37 1
41.4
43.1
40.4
36.5
39.8
32.2
385
302
36.3
326

40.6
41.0
40.0
41.4
40.5
38.6
390
29
39.8
389
400
35.0
42.6
368
41.7
43.2
40.8
36.2
39.7
32.2
386
302
36.3
327

40.6
41.0
40.2
41.3
40.5
39.0
393
30
39.8
372
403
35.6
43.0
374
41.7
43.2
40.9
36.6
40.0
32.1
387
300
36.3
326

40.7
41.3
40.4
41.9
41.0
39.0
397
31
40.3
397
405
36.0
43.1
377
41.8
43.4
41.3
37.1
39.4
32.3
388
302
36.3
32 7

169.04
13843
215
892
4394
10.69
3429
9.38
2907
3061

169.87
13824
232
867
4217
10.63
3450
9.74
3020
31 63

170.49
13836
228
852
4284
10.71
3439
9.65
2998
32 13

16927
13724
228
852
4180
10.63
3437
9.66
2997
3203

16842
13636
232
856
4105
1051
3415
9.77
3001
3205

16763
13557
223
834
4059
1054
3398
9.71
3017
3206

16844
13660
229
831
4098
1050
3444
9.76
3032
31 84

16907
137 64
234
862
41 31
1056
3456
9.79
3046
31 43

16978
13826
231
8 57
41 65
1065
3474
9.83
3044
31 91

17022
139 13
240
866
4208
1060
3483
9.89
3067
31 09

17123
13949
250
870
4229
1064
3466
9.92
3076
31 74

17303
141 18
257
926
4270
1064
3509
9.96
3095
31 85

125.6
1094
1550
128 1
1045
1081
992
1368
114.0
131.1
133.4
1301
145.7
1528

124.5
1037
1650
1263
976
988
959
1390
113.2
130.9
1335
1299
150.8
1589

124.8
1052
1617
124 7
998
1016
972
1383
113.5
130.4
134 1
1289
149.4
1576

123.4
1022
1632
1243
961
966
954
1381
112.6
130.3
1337
1290
149.7
1574

122.5
1003
1664
1237
938
940
935
1379
112.6
129.1
1308
1285
151.2
1598

121.9
98 5
1587
1206
925
924
925
1382
112.8
128.9
1310
1280
151.1
159 1

123.0
1000
1624
1205
94 2
94 1
94 3
1390
112.6
130.4
1319
1298
151.8
1594

123.7
101 5
1667
124 7
95 2
955
94 7
1392
112.7
130.9
1333
1300
151.1
1593

124.5
1023
1680
124 5
96 1
966
95 4
1399
113.5
131.4
1336
1306
152.4
1600

125.2
103 7
1704
1260
974
985
958
1402
112.8
131.6
1340
1306
152.6
161 2

125.5
104 4
1756
126 8
980
989
967
1402
113.8
130.9
1345
1294
153.2
161 4

126.8
1064
1754
135 3
989
998
97 6
1409
111.9
132.3
1350
131 3
153.7
1624

126.1
1038
1737
124 6
97 7
982
969
141 6
112.5
132.8
1349
132 1
154.3
1633

126.4
104
7
r
!723
r
!28 8
rgg i
r
99 2
965
141
5
r
112.2
r
!32.8
134 5
r
!32 1
154.0
1635

126.3
'103 8
'1506
'123 5
'987
'1000
'968
'141 9
111.9
132.9
'1348
'1322
154.5
164 4

6.16
850
9.27
669
6.43
713
683
6.08
5.06
6.85
8.97
6.84
7.32
6.32
8.54
6.17
5.03
6.00
5.78
6.27
6.65
4.66
4.23
7.13
6.95
7.60
9.36
5.96
4.22
8.17
5.06
639
4.53
5.27
5.36

6.66
9 18
9.93
727
7.02
776
7 50
6.56
5.48
7.51
9.77
7.43
8.04
6.96
9.35
6.80
5.45
653
6.31
6.86
7.69
5.07
4.57
7.85
7.54
8.29
1009
6.49
4.57
8.88
5.48
697
488
5.78
5.85

6.53
9 10
969
709
685
756
7 31
6.28
5.39
7.34
9.53
7.27
7.81
6.79
9.04
6.63
5.37
636
6.15
6.75
7.79
4.91
4.46
7.63
7.34
8.12
9.83
6.30
4.52
8.71
5.40
687
480
5.68
5.75

6.57
908
977
713
691
760
7 38
6.40
5.42
7.45
9.61
7.32
7.91
6.78
9.06
6.72
5.40
642
6.22
6.82
7.64
4.90
4.45
7.65
7.44
8.17
1007
6.34
4.53
8.72
5.42
689
482
5.70
5.79

6.61
9 ig
981
720
698
769
7 46
6.56
5.49
7.53
965
7.42
7.97
6.87
9.24
6.80
5.42
648
6.28
684
7.97
4.93
4.51
7.79
7.46
8.24
1022
6.39
4.54
8.75
5.43
695
483
5.77
5.81

6.64
908
991
7 29
707
7 77
7 55
6.72
5.52
7.60
982
7.42
8.05
6.96
9.34
6.86
5.46
660
6.38
689
8.06
5.06
4.50
7.97
7.53
8.35
1025
6.48
4.54
8.90
5.48
699
488
5.77
5.79

6.68
9 18
1005
730
705
7 78
7 53
6.76
5.54
7.64
984
7.48
8.07
7.02
9.35
6.86
5.46
662
6.39
690
7.74
5.19
4.60
7.99
7.63
8.39
1022
6.57
4.59
8.95
5.48
701
489
5.82
5.81

6.80
932
1019
7 43
7 16
7 93
7 66
6.80
5.58
7.69
997
7.62
8.28
7.14
9.56
6.92
5.51
669
6.44
693
7.42
5.24
4.70
8.06
7.73
8.46
1033
6.63
4.61
9.04
5.56
708
495
5.87
5.93

6.86
937
1025
7 49
723
802
7 74
6.76
5.59
7.74
1009
7.68
8.36
7.20
9.77
6.95
5.55
672
6.48
695
7.56
5.26
4.73
8.09
7.75
8.52
1039
6.70
4.64
9.20
5.59
7 10
498
5.91
6.00

6.93
951
1025
759
732
8 13
7 33
6.79
5.62
7.82
1028
7.75
8.44
7.29
9.89
7.02
5.60
680
6.55
709
7.74
5.30
4.75
8.18
7.79
8.59
1052
6.79
4.68
9.28
5.64
7 20
502
6.01
6.10

6.94
958
1035
7 69
740
824
7 92
6.77
5.69
7.83
1035
7.86
8.57
7.39
10.11
7.14
5.72
686
6.61
7 13
8.00
5.33
4.81
8.28
7.88
8.68
1037
6.89
4.73
9.31
5.61
7 24
499
6.00
6.12

7.03
9 78
1043
7 73
746
825
7 96
6.82
5.70
7.87
1036
7.87
8.59
7.42
9.98
7.19
5.81
694
6.69
721
8.42
5.34
4.89
8.27
7.92
8.73
1106
6.96
4.85
9.35
5.80
7 33
5 18
6.10
6.22

7.07
987
1042
7 74
7 48
827
7 99
6.84
5.73
7.89
1056
7.90
8.63
7.45
9.94
7.20
5.81
695
6.71
7 25
8.47
5.34
4.87
8.28
7.96
8.79
1132
6.95
4.87
9.46
5.84
7 39
5 20
6.21
6.28

7.10
986
10
45
r
7 80
7 53
8 33
8 05
'6.82
5.76
r
7.94
1052
'7.99
'8.69
7.49
10.10
r
7.23
r
5.83
698
r
6.75
•729
8.54
'5.34
4.94
r
8.31
r
8.03
r
8.84
1123
r
6.99
4.89
r
9.43
5.86
r
7 44
520
'6.19
'6.30

'7.13
'9 72
10 44
'7 87
'7 62
'841
'8
14
r
6.84
'5.79
'8.10
'1078
8.03
'8.73
'7.52
10.16
'7.24
'5.90
704
'6.82
737
'8.79
'5.35
'4.96
'8.38
'8.01
'8.91
'11 40
'7.06
'4.92
'9.54
'5.87
'7 49
522
'6.18
'6.30

40.4
40.8
39.7
40.5
40.6
38.8
393
30
39.9
394
40 1
35.8
42.8
37 2
41.8
43.5
40.1
37.0
39.5
32.2
38 7
302
36.4
328

40.7
41.0
40.2
41.1
40.4
38.7
391
28
39.6
37 2
399
35.7
42.7
370
r
41.6
r
42.9
40.6
'37.3
39.4
r
32.2
38 6
'302
36.3
328

'40.9
41.3
'40.1
'41.8
40.2
'38.7
392
'28
'40.0
'37 2
'398
'35.7
42.7
'37 3
'41.5
'43.2
40.8
'36.8
39.3
'32.4
38 6
'304
'36.3
328

"40.9
M1.5
"40.3
41.5
"40.2
"39.2
"394
P
30
"39.8
P
376
P
403
"36.1
"42.8
P
37 4
"41.9
"43.1
"41.0
-36.6
"39.4
"32.2
P
38 7
P
302
P
36.2
P
32 6
P

171 80 '172 27 '170 70 PP171 52
14034 140 49 '140 12 140
07
P
253
'2 18
248
2 18
854 r '8 78
'851 P P8 25
4239 r4237
4234
4259
1064
!063 '1064 "1063
35 12 rr3506 '3524 PP35 17
9.99
io.oo 10.00 10.02
31 13 r31 17 '31 20 PP31 24
31 46 '31 78 '30 58
31 45
P
125.9
P
103 3
P
150
4
P
119
2
P
988
P
999
P

97 3
"141
7
P
112.1
P
132.7
P
135 1
P
131 8
P
154.5
P
164 0

P
7.16
P

970
1054
P
791
P
7 63
P
8 47
P
8 16
"6.88
P
5.82
P
8.14
1080
P
8.13
P
8.82
P
7.56
P
10.27
P
7.32
P
5.92
P
707
P
6.82
P
7
39
P
8.91
P
5.38
P
4.97
P
8.44
P
8.08
P
8.96
p
ll 40
P
7.12
P
4.97
P
9.58
P
5.89
P
7 54
P
522
P
6.21
P
6.32
P

S-14

SURVEY OF CURRENT BUSINESS

Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
hi the 1977 edition of BUSINESS STATISTICS

1979

June 1981

1980

1980
Apr.

Annual

June

May

July

Aug.

1981
Sept.

Oct.

Nov.

Dec.

Jan.

Feb.

Mar.

Apr.

May

LABOR FORCE, EMPLOYMENT, AND EARNINGS—Continued
HOURLY AND WEEKLY EARNINGS t—Cont.
Average hourly earnings per worker—Cont.
Seasonally adjusted:
Private nonagricultural payrolls
dollars..
Mining
do
Construction
do....
Manufacturing
do
Transportation and public utilities
do....
Wholesale and retail trade
do....
Finance, insurance, and real estate
do....
Services .
do....
Indexes of avg. hourly earnings, seas, adj.: H
Private nonfarm economy:
Current dollars
1967=100..
1967 dollars $
do
Mining
do..
Construction
do....
Manufacturing
. ...
do.
Transportation and public utilities
do....
Wholesale and retail trade
do....
Finance, insurance, and real estate
do....
Services
do
Hourly wages, not seasonally adjusted:
Construction wages, 20 cities (ENR): §
Common labor
$ per hr..
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 paid per hour cash wages only
Railroad wages (average class I)
.

do
do

Avg. weekly earnings per worker,
private nonfarm: U
Current dollars seasonally adjusted
1967 dollars seasonally adjusted $
Spendable earnings (worker" with 3 dependents):
Current dollars seasonally adjusted
1967 dollars seasonally adjusted $
Current dollars, not seasonally adjusted:
Private nonfarm total
dollars..
Mining
. .
.
do...
Construction
do....
Manufacturing
do. .
Durable goods
do....
Nondurable goods
do
Transportation and public utilities
do....
Wholesale and retail trade
do....
Wholesale trade
do ...
Retail trade
do....
Finance, insurance, and real estate
do....
Services
do....
HELP- WANTED ADVERTISING
Seasonally adjusted index
1967—100..
LABOR TURNOVER
Manufacturing establishments:
Unadjusted for seasonal variation:
Accession rate, total
mo rate per 100 employees
New hires
do
Separation rate, total
do....
Quit
do
Layoff
'.. do....
Seasonally adjusted:
Accession rate total
do
New hires
do ..
Separation rate total
do
Quit
do....
Layoff
do ...
UNEMPLOYMENT INSURANCE
Unemployment insurance programs:
Insured unemployment, all programs, average
weekly # @
thous..
State programs (excl. extended duration prov.):
Initial claims
thous
Insured unemployment, avg. weekly. .. . do ..
Percent of covered employment: @ @
Unadjusted .
Seasonally adjusted
Beneficiaries average weekly
thous
Benefits paid @
. mil. $..
Federal employees, insured unemployment,
average weekly
thous
Veterans' program (UCX):
Initial claims
do....
Insured unemployment avg weekly
do ..
Beneficiaries average weekly
do
Benefits paid
mil $..
Railroad program:
Applications
thous
Insured unemployment avg weekly
do....
Benefits oaid .!.....".
.T.
?. mil. $..
See footnotes at end of tables.




P
7.17
P

6.16
850
9.27
669
8.17
5.06
5.27
5.36

6.66
9 18
9.93
727
8.88
5.48
5.78
5.85

6.54
910
9.79
711
8.71
5.38
5.68
5.72

6.57
908
9.83
715
8.72
5.42
5.70
5.78

6.62
916
9.89
722
8.75
5.45
5.77
5.86

6.67
908
9.94
730
8.90
5.50
5.77
5.87

6.71
918
10.04
736
8.95
5.53
5.82
5.91

6.77
932
10.05
742
9.04
5.56
5.87
5.93

6.83
9.37
10.14
749
9.20
5.59
5.91
5.99

6.91
951
10.21
758
9.26
5.66
6.01
6.08

6.95
958
10.32
763
9.31
5.67
6.00
6.10

7.02
978
10.40
769
9.35
5.73
6.10
6.16

7.06
9.87
10.45
7.73
9.46
5.79
6.21
6.21

'7.11
9.86
10.52
r
780
r
9.43
r
5.83
r
6.19
r
6.27

'7.13
'972
'10.25
'789
'9.54
'5.85
'6.18
'6.27

229.8
1059
2639
222.0
234.7
249.3
223.8
209.6
2278

251.3
1017
2876
236.3
258.5
271.9
242.6
229.5
2482

246.2
1014
2837
233.0
2524
267.2
238.0
224.9
2430

248.3
101 4
2842
234.2
255.0
268.7
239.8
226.3
2457

250.9
1015
286.3
235.3
258.3
270.6
241.8
230.2
248.4

252.1
1020
285.3
236.7
260.6
272.8
243.5
229.0
247.6

254.0
1020
288.9
239.0
262.4
273.2
245.3
232.7
249.8

255.4
1015
290.4
239.3
264.5
274.0
246.5
233.1
251.7

257.9
1014
294.4
241.6
266.6
280.2
247.7
234.8
254.2

260.9
1015
298.7
243.0
268.9
283.4
250.9
239.3
258.5

261.9
1008
302.3
245.3
270.4
284.1
250.9
238.0
259.4

264.4
1010
306.6
247.8
272.6
285.9
254.6
240.2
261.3

266.6
100.9
309.2
248.1
274.6
289.6
256.7
244.1
263.9

'268.6
'101.1
311.0
r
250.1
'276.8
'291.3
'258.7
'245.7
'265.8

'269.8
1012
'311.0
'250.3
'279.6
'293.4
'259.2
'244.2
'266.0

P
271.5
P
1012
P
311.8
P
251.3
P
280.7
P
296.0
P
261.1
P
246.2
P

10.78
1422

11.73
1842

11.27
1482

11.34
1491

11.59
1520

11.83
1549

12.02
1570

12.17
15.79

12.25
1591

12.28
15.95

12.29
16.04

12.28
16.07

12.28
16.07

12.36
16.11

12.45
16.13

P
12.56
P

3.39
334
358
341
893

3.66
359
382
367
992

3.61
356
3 77
360
955

951

952

3.54
349
374
362
10.11

10.28

10.31

3.85
373
392
383
10.25

10.49

10.39

4.12
404
436
409
10.51

10.49

3.92
388
409
391
10.55

229.53
100.81

23490
95.10

23086
95.20

23061
94.28

231.70
93.88

232.78
94.24

235.52
94.62

238.30
94.68

241.10
94.81

244.61
95.10

246.03
94.70

249.21
95.19

249.22 '251.69 '252.40 "253.10
94.33 '94.73
94.64 P94.30

194.40
8934

206.25
8351

203.18
8379

202.99
8299

203.82
8259

204.64
8285

206.72
83.05

208.83
82.97

210.95
82.95

213.62
83.06

214.69
82.64

215.81
82.43

215.82 '217.68 '218.21
81.69 '81.93
81.82

P

219.30
36550
342.99
26894
290.90
23580
325.98
164.96
24793
138.62
190.77
175.27

235.10
396.58
367.41
28862
311.95
25467
351.65
175.91
268.35
147.38
209.24
190.71

228.55
389.48
355.62
27935
301.64
24613
344.05
171.72
263.81
142.56
205.62
186.30

229.95
38772
360.51
28021
301.72
24845
342.70
172.90
265.27
144.12
205.77
187.02

233.33
394.71
371.80
283.68
306.06
25142
346.50
175.39
265.49
146.83
210.03
190.57

234.39
380.45
373.61
282.85
303.81
254 10
355.11
178.10
267.02
149.82
208.87
191.65

237.14
395.66
374.87
286.89
308.87
257.52
355.32
179.20
269.18
151.10
211.27
192.31

240.04
405.42
386.20
295.71
318.79
261.58
358.89
178.48
272.58
149.00
211.91
192.73

242.16
407.60
388.48
298.10
323.21
26275
366.16
179.44
274.77
149.40
214.53
195.60

244.63
413.69
377.20
305.12
330.89
267.24
368.42
180.48
277.92
150.60
218.16
198.86

247.06
422.48
383.99
313.75
341.96
273.03
372.40
181.76
281.64
152.20
217.80
199.51

246.75
425.43
379.65
308.43
333.30
271.35
368.39
183.86
282.21
152.81
221.43
202.15

246.74
422.44
364.70
305.73
329.97
269.66
373.67
185.13
283.04
153.92
226.04
204.73

249.92
'416.09
'388.74
'311.22
337.37
272.22
'371.54
'186.93
'286.44
'154.96
'224.70
'205.38

'250.98
'422.82
'385.24
'312.44
'338.92
273.15
'374.92
'188.43
'288.37
'157.12
•'224.33
'205.38

"252.03
P
423.89
P
388.93
P
317.19
"344.73
"277.85
"377.45
"188.48
"291.04
"156.60
P
224.80
P
204.77

158

129

122

112

115

118

117

122

127

134

130

128

129

'125

118

40
29
4.0
20
1.1

35
21
4.0
15
1.7

31
21
4.6
15
2.3

34
21
4.8
15
2.5

39
2.4
4.4
14
2.2

38
21
4.2
14
2.0

45
25
4.8
22
1.7

43
2.6
4.1
1.9
1.4

36
2.2
3.7
1.4
1.5

27
16
3.0
1.1
1.3

22
1.2
3.1
0.9
1.6

34
18
3.6
1.2
1.6

30
1.8
3.1
1.1
1.2

3.4
2.0
3.2
1.2
1.2

P
34
P

30
21
53
1.5
29

30
18
57
1.4
3.5

33
1.8
51
1.4
2.9

34
1.9
38
1.3
1.7

36
1.9
3.9
1.3
1.9

38
2.1
3.5
1.3
1.5

38
2.1
3.4
1.3
1.4

36
2.1
33
1.4
1.2

36
2.2
3.3
1.5
1.1

35
2.2
3.6
1.5
1.3

3.6
2.3
3.8
1.5
1.4

3.5
2.2
3.6
1.4
1.4

P

10.71

2.0

P

3.1
"1.3
p
l.l
P

33

2.0
"3.4
P
1.3
P
1.4

2,592

3,808

3,627

3,680

3,790

4,140

3,911

3,961

3,660

3,726

4,085

4,621

4,264

3,948

3,453

20160
2433

25412
3350

2192
3278

2248
3343

2319
3455

2737
3,692

1828
3,408

1702
3,087

1808
2,903

1673
2,983

2544
3,321

2653
3,844

1,806
3,669

1,684
3,382

2,988

3.0

29

2033
8,612.9

2844
14,584.9

40
4.3
3.9
38
39
4.7
4.5
4.4
3.7
4.3
2962
3 130
3026
2884
2796
1 232.2 1 196.8 1 213.6 1,397.5 1,244.4

3.6
3.3
3.4
3.8
3.8
4.4
4.1
3.5
2656
2488
2381
2738
1,144.9 1,125.4 1,055.1 1,243.0

4.2
3.9
4.4
3.2
3.3
3.4
3,220
3234
3,069
1,416.5 1,313.5 1,393.6

3.4
3.4

28

29

25

22

20

26

25

29

32

35

37

41

40

36

31

282
52
52
2875

267
55
56
2948

21
52
56
245

20
50
50
220

23
45
29
118

27
58
72
333

23
55
58
246

25
56
56
24.8

23
56
55
259

17
54
54
210

21
55
58
270

19
57
59
26.6

17
54
55
22.5

18
51
53
24.7

46

107
18
82.5

162
34
176.1

4
28
13.0

Q

25
10.0

24
25
10.1

44
35
13.3

13
37
17.3

10
40
18.8

9
35
17.8

7
36
14.3

11
41
18.0

13
51
23.3

5
48
22.0

5
45
23.2

6
41
19.2

970
10.60
P
793
-9.58
'5.89
P
6.21
P
6.31

P

268.2

16.30

218.74
P
81.50

S-15

SURVEY OF CURRENT BUSINESS

June 1981
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS

1979

1980

Annual

1981

1980
Apr.

June

May

July

Aug.

Sept.

Oct.

Nov.

Dec.

Jan.

Feb.

Mar.

Apr.

May

LABOR FORCE, EMPLOYMENT, AND EARNINGS—Continued
WORK STOPPAGES
Industrial disputes:
Number of stoppages:
Beginning in month or year
Workers involved in stoppages:
Beginning in month or year
Davs idle during month or vear

number .

4,800

4500

425

505

435

491

409

438

360

284

66

253

347

314

371

thous .
do....

1,700
3.500

1500
32.000

116
2.786

139
2.464

164
2.553

270
4.030

64
3.363

163
3.169

94
2.638

54
1.244

18
617

50
614

90
647

271
1.419

101
5.117

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....

45321
111,094
82279
17,663
64616
28,815

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....

54744 50 177 52636 54356 54334 54486 55774 56610 55226 54744 54465 58084 60089
123 063 122,473 121 707 124 170 121 365 120 299 120 932 123 095 126 048 123063 130 168 132 077 132 294
87708 85177 83478 81787 81533 82191 82408 85707 87832 87708 90513 90675 91858
19945 18973 18451 18257 17667 18445 18654 19443 20169 19945 20908 21646 22828
67763 66204 65027 63530 63866 63 746 63754 66264 67 663 67 763 69605 69029 69030
35355 37296 38229 42383 39832 38 108 38524 37388 38216 35355 39655 41402 40436

58,496

68,648

63,969

64,362

64,632

65,654

66,239

66,975

67,966

68,324

68,648

70,105

70,886

72,123

31284
8,091
19,122

38138
9*506
21005

34202
9046
20,722

34996
8264
21 102

35 579
7584
21469

36 107
8033
21514

36470
8388
21381

36843
8902
21230

37260
9988
20718

37612
10261
20451

38 138
9506
21005

38740
10324
21042

39375
10056
21 455

40264
9802
22057

do....
do....
do....

162 947
135,092
1454
117 458
11 112
162 947
35708
29,520
113,355

171 495 165 649
137,644 135,544
1 809 4770
121 328 118 825
11 161 11 172
171 495 165 649
31546 39044
27,456 32,927
124,241 111,524

164 467
136,950
602
124 277
11 172
164 467
38445
31,804
113,118

165 627
138,182
215
124 515
11 172
165 627
38834
33,187
114,502

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

'43 972
»43 578
*394
1
1,473
'-997

*40 097
*40 067
*30
1
1,617
1
1471

44877
44683
194
2,455
2 106

43968
43 785
183
1,028
782

43479
43 268
211
380
-157

42859
42575
284
395
104

122,610
219,155
155,734
5,942
863
35,975
267 415

119 584
228 967
158,722
5,933
1 088
41,710
313 750

105 047
201 536
134,656
5,992
2426
37,608
278 871

101 039 110 723
195 302 208 631
132,734
141,960
r
4,599
5,008
1
813
1 061
r
35,498 39,637
'279 596 276 789

74604
159 958
402 310
159,321
10,275
26,559
99959
137906
108,114
36,089
31,214
72025

72313
205 805
433 583
174,751
9,979
25,988
111 665
135983
118036
39,539
35242
78497

68752
176 497
400570
161 249
8,738
25,035
104766
124 985
110095
35,429
29508
74 666

r
69 981
176 102
'393 663
157 907
'7,654
r
23,502
105 395
124563
111
193
r
35,716
r
30903
r
75 477

1,134.6
93.8
191 8
848.9

12373
110.7
2139
912.7

1 1653 1 1587 1 1560 1 1635 1 1809 1 1933 12065 12242 12373
93.8
102.0
109.1
110.5
110.7
95.5
107.7
98.1
105.7
204 1
2099
1968
201 7
2069
2139
200 1
207 5
212 1
912.7
874.6
857.5
878.0
887.5
901.7
863.2
856.3
868.3

Federal Reserve banks, condition, end of period:
Assets, total #
mil $
Reserve bank credit outstanding, total # .. do....
Time loans
do
U.S. Government securities
do
Gold certificate account
do....
Liabilities, total #
Deposits, total
Member-bank reserve balances
Federal Reserve notes in circulation

do....

Large commercial banks reporting to Federal Reserve System, Wed. nearest end of yr. or mo.:
Deposits: $
Demand, adjusted §
mil. $..
Demand, total #
Individuals, partnerships, and corp
State and local governments
U S Government
Domestic commercial banks
Time, total #
Individuals, partnerships, and corp.:
Savings
Other time
Loans (adjusted), total §$
Commercial and industrial
For purchasing or carrying securities
To nonbank financial institutions
Real estate loans
Other loans

do....
do....
do....
do
do....
do
do
do..
do .
do....
do....
do....
do
do....

Investments, total t
do....
U.S. Government securities, total
do....
Investment account *
do....
Other securities
do
Commercial bank credit, seas, adj.: t
Total loans and securities
fl
bil. $..
U.S. Treasury securities
do....
Other securities
do
Total loans and leases
ff
do....
Money and interest rates:
Discount rate (N.Y.F.R. Bank), end of year or
month
percentFederal intermediate credit bank loans
do....
Home mortgage rates (conventional 1st
mortgages):
New home purchase (U.S. avg.)
Existing home purchase (U.S. avg.)

Open market rates, New York City:
Bankers' acceptances, 90 days
do....
Commercial paper, 6-month ft*
do.. .
Finance co. paper placed directly, 6-mo @ do....
Yield on U.S. Government securities (taxable):
3-month bills (rate on new issue)
percent..
See footnotes at end of tables.




41 815
41 498
317
1,335
-951

41 678
40723
955
2,156
-1 102

107 393
187 725
131,371
4,962
817
30,413
273 708

108966 112 467
204290 208 621
142,783 145,288
4,887
5,135
1 015 1 031
36,559 37,552
281 420 285 113

108156
191 810
135,213
4,658
787
34,457
289 376

111706
207 817
143,831
4,804
2964
36,804
300970

74 574
168 630
392 491
158038
6,465
23,133
105 925
120007
113 702
38,141
33232
75 561

75905
174 167
403 128
161390
6,924
23,462
106894
128 526
115 851
40,283
34833
75 568

76664 76042 74 946
177063 181 124 193 269
410 632 412 556 424 173
166 261 166 168 172 266
7,644
7,084
8,960
24,281 24,024 24,842
108 246 109464 110 728
128 393 126 159 133 629
114 866 114 236 116 520
38,706 37,674 39,409
34382 33897 34422
76 160 76 562 77 111

40097 41 514
40067 41 025
30
489
1,617
1,405
1 471
796

39650
39 448
202
1,278
928

39 752
39372
380
1,004
-427

164 447
134,464
1 366
118311
11 154
164 447
27213
24,304
123,251

40097
40071
26
1,343
1 156

40344
40213
131
2,154
-1 764

119584 100185 95658 106246 97595 97 121
228 967 185 566 183 252 206 616 188 663 195 134
158,722 127,940 123,777 139,810 128,835 130,752
4,262
4,938
4,456
5,933
4,846
4,714
3 312
1 088 1 676 1 579 1 005 2881
41,710 34,044 35,230 38,664 32,839 36,735
313 750 320 947 320996 321801 322 992 334602

72 313
205 805
433 583
174 751
9,979
25,988
111 665
135983
118 036
39,539
35242
78 497

74 382
210 718
425 949
171 414
7,746
25,253
112 866
131 059
117 337
39,777
33438
77 560

75072
209 948
423 216
169 482
8,182
24,875
113 681
131 875
118190
40,816
33726
77 374

79344
208 372
430 070
172 782
10,151
24,598
114468
134 392
120 108
41,754
33897
78 354

77897
211 052
430 525
174 525
8,708
25,338
115 337
129*376
117 234
39,720
34280
77 514

77797
221968

437 332
176 623
10,3%
25,836
116 622
132 871
121 042
42,128
34444
78*914

12535 12629 1 262 3 12670
113.6
115.3
114.9
115.3
2163
2172
2182
2176
923.6
930.3 '929.1
934^2

13.00
13.12

12.94
13.54

11.40
13.12

10.87
12.59

10.00
12.03

10.17
11.82

11.00
11.50

11.47
11.53

12.87
11.90

13.00
12.29

13.00
12.93

13.00
13.35

13.00
13.65

13.87
13.95

2
10.48
2

10.66

8
12.25
'12.58

12.64
13.21

13.26
13.74

12.24
12.88

12.08
12.23

11.84
11.89

11.95
12.00

12.20
12.31

12.62
12.85

12.86
13.15

12.80
13.24

13.02
13.73

13.48
13.91

13.62
13.99

13.61
14.18

3
11.04
3
1091
3

3
12.78
3
1229
3

11.28

15.63
1493
13.68

9.60
929
9.01

8.31
803
7.42

8.58
829
8.03

9.85
961
9.08

11.13
1104
10.29

12.69
1232
11.15

15.34
1473
13.07

17.96
1649
14.78

16.62
1510
14.09

15.54
14.87
14.05

13.88
1359
12.89

14.65
14.17
12.94

17.56
16.66
14.97

11.506

14.003

9.150

6.995

8.126

9.259

10.321

11.580

13.888

15.661

14.724

14.905

13.478

13.635

16.295

12.00
10.09

a

10.25

3

41 164
40908
256
1,311
-1 029

40373
40071
302
659
-347

168 067
132,896
2333
119687
11 154
168 067
31310
26,063
121,852

12.87
!2.22

2

percentdo....

73 377
172 887
396 202
159 557
7,865
22,961
105 217
127*158
112 548
36,958
32861
75590

161 467 161 824 167 040
129,492 129,152 131,037
1 304 1 249
656
117 169 117*621 118 043
11 159 11*156 11 154
161 467 161 824 167 040
32810 33 141 33071 33088 34809 31546 30747 29777 29983
27,548 29,338 28,146 30,518 31,528 27,456 26,621 26,734 26,164
115,654 116,925 117,144 118,248 121,191 124,241 118,147 118,854 120,874
160 556 162860 167 788 164 067 169 041 171 495
132,648 134,462 134,437 135,029 139,576 137,644
562
1 567 2284
1 809
1 515
982
119 563 119 848 120 711 121 482 120 812 121 328
11 172 11 172 11 168 11 163 11 162 11 161
160 556 162 860 167 788 164067 169 041 171 495

10.041

3

4

S-16

SURVEY OF CURRENT BUSINESS

Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS

1979

1980

1980
May

Apr.

Annual

June 1981

June

July

Aug.

1981
Sept.

Oct.

Nov.

Dec.

Jan.

Feb.

Mar.

Apr.

FINANCE—Continued
CONSUMER INSTALLMENT CREDIT f
Total extended and liquidated:
Unadjusted:
Extended
Liquidiited
Seasonally adjusted:
Extended total #
By major holder:
Commercial banks
Finance companies
Credit unions
Retailers
By major credit type:
Automobile
Revolving
Mobile home

mil. $..
do

324,777
286,396

305,887
304,477

Retailers
By major credit type:

27,391
25,481

26,907
25,744

28,136
27,840

24,918
24,088

31,052
25,669

23,145
26,027

23,672
25,037

29,519
27,940

29,117
26,464

22,093

22,349

23,997

26,176

27,064

27,365

25,991

27,149

27,059

28,706

29,822

28,878

10,227
4,801
1,862
3,845

9,785
4,320
1,575
4,072

9,892
4,439
1,318
4,186

10,098
4,809
2,305
4,148

11,107
5,155
3,085
4,263

11,671
5,355
2,752
4,596

11,977
5,323
2,872
4,291

11,432
4,852
2,795
4,250

11,484
5,185
3,035
4,497

10,397
5,904
2,994
4,673

11,648
6,193
3,167
4,500

12,676
5,911
3,153
4,685

11,986
5,218
3,181
5,002

do
do....
do

5,922
10,347
397

5,550
10,341
424

6,068
10,679
377
25,196

7,518
11,143
442
26,009

7,544
11,124
513
26,663

7,117
10,953
424
25,152

7,234
11,614
479
25,530

26,190

8,333
11,867
409
26,710

8,700
12,071
641

24,394

7,400
10,700
415
25,687

7,237
11,483
383

24,891

5,533
10,302
299
24,770

26,714

7,205
12,352
551
26,547

11,948
3,973
2,597
4,124

11,721
4,074
2,561
4,118

11,675
3,695
2,616
4,118

11,847
4,370
2,575
4,059

11,789
4,768
2,620
4,103

11,936
4,742
2,716
4,140

12,313
4,869
2,809
4,157

11,552
4,258
2,577
4,198

11,760
4,325
2,657
4,181

11,754
4,791
2,706
4,264

12,192
4,663
2,723
4,397

12,064
4,372
2,866
4,432

12,331
3,965
2,909
4,471

do
do.. .
do
do. .
do....
do
do....
do
do. .
do....

312,024

6,777
7,343
6,872
6,932
7,300
7,354
7,018
6,785
7,045
7,434
6,576
10,436 10,641 10,419 10,665 10,851 10,688 10,998 10,926 11,426 11,484 11,514
400
413
407
456
553
406
363
382
399
372
366
313,435 307,831 305,788 304,399 303,853 305,763 306,926 307,222 308,051 313,435 310,554 309,188 310,766 313,419

154,177
68,318
46,517
28,119

145,765 150,937 149,238 147,883 146,555 146,548 146,362 145,895 145,147 145,765 143,749 142,030 141,897 142,070
76,756 71,545 72,101 73,118 73,909 74,433 74,823 74,985 75,690 76,756 77,131 78,090 79,490 81,033
44,041 44,954 44,139 42,995 42,644 43,347 43,562 43,518 43,606 44,041 43,601 43,776 44,212 44,390
29,410 25,073 24,970 24,786 24,620 24,918 25,301 25,703 26,469 29,410 28,300 27,329 26,965 27,227

116,362
56,937
16,838

116,327 117,502 117,058 116,456 116,125 116,868 116,781 116,657 116,517 116,327 115,262 115,677 117,517 118,479
59,862 53,690 53,225 53,042 53,036 53,771 54,406 54,598 55,304 59,862 58,985 57,566 56,831 57,322
17,327 16,974 16,912 16,988 17,004 17,068 17,113 17,276 17,293 17,327 17,244 17,189 17,273 17,422

6,565
10,677
383

6,574
10,589
349

'465,955 '520,050 61,097 36,071 59,055 37,348 44,259 53,544 38,923 39,175 48,903 52,214 38,394 44,623
'493,607
'579,011 51,237 50,198 46,702 52,409 50,755 47,289 56,304 48,049 56,202 59,099 53,969 54,217
1
6,255 -17,382 -S,874 -7,299 -6,884 -15,575 -9,593
9,860 -14,127 12,353 -15,062 -6,496
-27,652 '-58,961
8,874
7,299
6,884 15,575
9,593
14,127
-6,255
17,382
-9,860
-12,353
15,062
6,496
'58,961
'27,652
1
6,772 13,916 15,138
9,737 11,111
6,260
9,231 13,668
5,350 -4,615
4,758
4,632
33,641 '70,515
1
-357
112
-6,369
1,659 -5,545
8,777 -7,738
5,325 -4,615 -12,515 12,624
-5,989 '-11,554 -14,492
'833,751 '914,317 876,914 884,788 884,381 888,367 900,075 914,317 914,782 920,316 936,686 940,528 956,898 970,901
'644,589 '715,105 687,260 692,611 687,997 697,734 708,844 715,105 719,862 729,094 742,761 749,533 763,449 778,587
'520,050
'465,955
1
217,841 '244,069
'65,677 '64,600

61,097
31,488
9,171

36,071
9,275
1,230

59,055
27,791
15,804

37,348
19,773
2,136

44,259
19,527
1,367

53,544
26,936
8,884

38,923
21,150
1,284

39,175
20,851
1,003

48,903
23,725
9,387

52,214
30,964
2,158

38,394
15,348
564

44,623
13,693
8,586

'141,591 '160,747
'40,847 '50,634
do . '493,607 '579,011
'24,555
do.... '20,636
do.... '115,013 '132,840

15,886
4,552

20,787
4,780

10,793
4,667

10,253
5,188

18,546
4,816

12,860
4,864

11,283
5,205

13,242
4,078

11,078
4,714

14,363
4,728

17,211
5,272

15,784
6,560

51,237
1,901
11,357

50,198
2,089
11,273

46,702
2,632
11,582

52,409
1,195
11,439

50,755
1,374
11,402

47,289
1,340
11,345

56,305
1,785
12,705

48,049
1,829
11,601

56,202
3,415
12,281

59,099
5,212
12,424

53,969
2,390
12,544

54,217
1,802
13,263

mil $ '170,297
'64,988
do
'4,187
do....
do ... '19,887

'194,691
'76,642
'4,850
'21,135

17,667
7,584
398
2,004

16,447
5,928
397
2,792

15,368
9,900
452
630

17,455
6,815
423
1,713

17,992
5,164
456
2,655

17,153
5,016
356
744

19,017
7,286
479
2,857

16,918
5,625
425
717

19,132
10,944
499
3,028

19,081
5,222
381
1,921

18,700
6,936
459
1,953

18,777
6,878
559
1,025

432.28
29.72
208.75
118.42
106.24
13.01
34.82
2.67
24.89

476.19
32.53
226.97
131.14
118.30
15.25
41.46
2.79
26.04

442.93
30.30
212.35
123.59
111.10
13.70
38.17
0.84
24.00

447.02
30.32
213.77
124.56
111.96
13.98
38.89
1.05
24.45

450.86
30.13
215.14
125.46
112.77
14.08
39.35
1.61
25.08

455.76
30.66
218.72
126.46
113.78
14.16
39.65
1.79
24.31

459.36
30.86
220.45
127.36
114.65
14.18
39.92
1.65
24.94

464.48
31.10
223.40
128.09
115.36
14.46
40.26
1.66
25.51

468.06
31.34
225.73
128.98
116.21
14.70
40.55
1.46
25.30

473.53
31.72
228.63
129.88
117.08
15.18
40.88
1.50
25.73

476.19
32.53
226.97
131.14
118.30
15.25
41.46
2.79
26.04

478.48
33.27
229.25
131.71
118.90
15.24
42.03
1.45
25.53

482.26
34.10
229.59
132.44
119.50
16.03
42.60
1.24
26.26

487.07
34.37
231.06
133.15
120.21
16.37
43.26
1.56
27.28

492,812
329,571
157,906
5.335

544,572
371,113
170,184
3.275

42,063
31,618
10,099
346

40,657
30,764
9,602
291

46,425
31,217
14,932
276

42,802
30,373
12,172
257

44,644
29,348
15,023
273

45,055
30,635
14,146
274

46,589
34,215
12,156
218

43,212
30,751
12,265
196

70,651
39,837
30,641
173

41,221
27,468
13,596
157

42,967
30,352
12,462
154

52,345
36,537
15,589
219

bil. $..

Corporate securities . .
do
Mortgage loans total
do
Nonfarm
do....
Real estate
do
Policy loans and premium notes
do....
Cash
do
Other assets
do
Life Insurance Agency Management Association:
Insurance written (new paid-for insurance):
Value, estimated total
mil. $..
Ordinary (incl. mass-marketed ord.)
do....
Group
do....
Industrial
do....




24,984
25,530

23,220

Budget receipts and outlays:
Receipts (net)
mil $
Outlays (net)
do
Budget surplus or deficit (—)
do..
Budget financing total
do..
Borrowing from the public
do
Reduction in cash balances
do
Gross amount of debt outstanding
do....
Meld by the public
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 .

See footnotes at end of tables.

22,988
24,378

do....

Revolving
do.. .
Mobile home
do....
FEDERAL GOVERNMENT FINANCE

Outlays total #
Agriculture Department
Defense Department, military
Health and Human Services
Department §
Treasury Department
National Aeronautics and Space Adm
Veterans Administration
LIFE INSURANCE
Institute of Life Insurance:
Assets, total, all U.S. life insurance cos

22,775
24,818

. do .
do....
do
do. ..

By major holder:
Finance companies
Credit unions
Retailers
By major credit type:
Automobile
Revolving
Mobile home
Total outstanding, end of year or month #
By major holder:
Commercial banks
Finance companies .

23,583
24,878

48,254
37,055
11,010
189

May

Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS

S-17

SURVEY OF CURRENT BUSINESS

June 1981
1979

1980

Annual

1980
Apr.

May

June

July

Aug.

1981
Sept.

Oct.

Nov.

Dec.

Jan.

Feb.

Mar.

Apr.

May

FINANCE—CONTINUED
MONETARY STATISTICS
Gold and silver:
Gold:
Monetary stock, U.S. (end of period)
mil. $..
11,172
11,160 11,172 11,172 11,172
Net release from earmark §
do....
294
204
30
20
3
Exports
thous $ 4,907,865 3,647,932 671,189 280,138 252,317
Imports
. do. 1,480,203 2,750,120 248,835 211,651 95,483
Production:
South Africa
mil $
955.1
916.1
74.7
78.1
76.8
Canada
do....
^5.9
"60.5
5.7
5.7
5.5
Silver:
471,162 1,909,733 489,037 81,991 140,458
Exports
thous $
Imports
do
961,761 1,602,295 91,538 63,927 108,250
Price at New York
dol per fine oz .
11.094
20.632 14.500 12.533 15.748
Production:
United States
thous fine oz
27,397
33,602
2,379
2,846
2,986
Currency in circulation (end of period)
bil. $..
125.6
127.1
137.2
124.0
125.7
Money stock measures and components (averages
of daily figures): t
Measures (not seasonally adjusted): $
Ml-A
bil $
360.0
376.4
370.0
361.5
369.7
Ml-B
do
374.5
398.3
389.6
380.5
390.2
M2
do . 1,469.0
1,602.1 1,558.6 1,560.8 1,589.4
1,704.3
M3
do
1,864.4 1,818.1 1,821.7 1,845.6
L (M3 plus other liquid assets)
do.... 2,057.6
2,259.9 2,221.3 2,224.1 2,241.0
Components (not seasonally adjusted):
Currency
do
102.3
111.8
108.7
109.9
111.2
257.6
Demand deposits
do
264.7
251.5
258.6
261.3
Other checkable deposits
ft
do....
14.6
21.8
19.5
19.0
20.4
27.1
Overnight RP's and Eurodollars *
do....
28.5
23.3
24.6
22.1
Money market mutual funds
do....
26.9
69.8
60.4
66.8
74.2
Savings deposits
. . ..
do
446.2
398.5
381.8
386.9
376.9
Small time deposits @
do....
597.0
710.1
707.9
716.4
716.6
Large time deposits @
do
204.6
230.3
230.4
231.9
226.2
Measures (seasonally adjusted): $
Ml-A
do....
366.6
367.0
370.8
Ml-B
do ..
386.5
391.0
386.9
M2
do
1,551.2 1,566.2 1,587.6
M3
do ..
1,811.9 1,827.9 1,848.2
L (M3 plus other liquid assets)
do
2,212.3 2,226.0 2,241.8
Components (seasonally adjusted):
Currency
do ...
109.1
110.4
111.2
Demand deposits
do
256.7
257.4
259.6
Savings deposits
do .
382.3
385.2
378.1
Small time deposits @
do
703.1
714.1
715.6
Large time deposits @
do....
231.6
232.8
230.7
PROFITS AND DIVIDENDS (QTRLY.)
Manufacturing corps. (Fed. Trade Comm.):
Net profit after taxes, all industries
mil. $..
98,698 '92,443
'22,423
Food and kindred products
do....
7,340
'8,223
'1,844
Textile mill products
do ...
1,340
'986
'230
Paper and allied products
do....
3,723
'740
'2,781
Chemicals and allied products
do....
10,896
'11,219
'2,774
Petroleum and coal products
do....
21,936 '25,491
'6,675
Stone, clay, and glass products
do....
2,373
1,812
480
Primary nonferrous metal
do....
2,691
'2,771
'769
Primary iron and steel
do .
2,185
'2,336
529
Fabricated metal products (except ordnance,
machinery, and transport, equip.)
mil. $..
4,431
'3,936
'928
Machinery (except electrical)
do....
11,530 '11,447
'2,890
Elec. machinery, equip., and supplies
do....
7,386
'7,137
'1,694
Transportation equipment (except motor
vehicles, etc.)
mil. $..
3,189
'3,077
'804
Motor vehicles and equipment
do....
4,382 '-3,438
'-1 333
All other manufacturing industries
do....
15,314
'3,399
'14,665
Dividends paid (cash), all industries
do....
32,491 '36,390
'8,919
SECURITIES ISSUED
Securities and Exchange Commission:
r
Estimated gross proceeds total
mil $
57,671 '80,564
5,784
9,269 10,806
By type of security:
Bonds and notes, corporate
do.... '40,850 '55,719 '4,882
7,140
8,945
Common stock
do
8,709 '18,996
679
1,802
981
Preferred stock
do....
3,525
'3,634
223
202
382
By type of issuer:
r
Corporate, total #
mil. $.. 53,084 '78,349 '5,784
9,144 10,308
Manufacturing
do
11,563 '24,398
1,777
2,893
2,499
Extractive (mining)
do
3,192
'4,818
469
455
453
Public utility
do
'13,736 '15,940
891
1,478
1,822
Transportation .
.
do
'3,297
413
'3,745
'161
286
Communication
do....
4,694
'6,845
651
1,196
295
Financial and real estate
do.... '12,867 '15,638
1,473
2,218
3,411
State and municipal issues (Bond Buyer):
Long-term
do
42,261
4,579
4,773
47,133
6,004
Short-term
do....
20,897
26,485
4,405
1,975
2,098
SECURITY MARKETS
Stock Market Customer Financing
Margin credit at brokers, end of year
or month
mil $.
11,619
14,721 11,309 11,441 11,370
Free credit balances at brokers:
Margin accounts
.
do
1,105
2,105
1,290
1,270
1,345
Cash accounts
do....
4.060
6.070
4.790
4.750
4.790
See footnotes at end of tables.




11,172 11,172 11,168 11,163 11,162 11,160 11,159 11,156 11,154 11,154
1
72
1
0
9
38
18
3
9
-3
102,151 225,620 177,515 421,774 312,274 287,932 343,344 383,071 310,606 210,307
202,081 162,535 540,145 330,988 157,531 131,231 200,324 160,263 90,584 165,227

80.6
5.8
57,527
99,031
16.059
1,311
128.3

76.8

76.0
6.0

77.3
5.6

74.7
5.5

71.4
4.7

73.0
4.7

73.0
4.8

75.2
5.6

74.3

73.5

65,526 29,012 33,453 40,921 74,637 56,582 45,602
85,967 135,031 129,450 138,053 122,312 132,996 127,500
15.897 20.144 20.181 18.648 16.393 14.752 13.024

41,195
85,900
12.338

26,571
90,319
11.437

10.848

1,524
133.9

2,520
135.0

1,607
129.7

3,277
129.9

2,577
131.1

3,034
134.1

3,607
137.2

2,820
131.1

2,611
131.9

377.3
382.6
388.0
391.1
394.7
377.3
375.5
358.2
358.3
368.3
358.3
397.5
400.5
407.2
413.7
417.7
421.8
420.6
409.4
415.1
432.9
420.8
1,618.0 1,629.5 1,642.3 1,656.9 1,665.7 1,674.7 1,684.7 1,685.1 '1,712.4 '1,743.5 1,736.0
1,870.8 1,886.6 1,902.3 1,923.1 1,942.1 1,962.8 1,984.3 1,988.3 '2,009.9 '2,035.5 2,036.3
2,259.6 2,278.6 2,296.2 2,318.0 2,344.7 2,372.0 '2,401.4 '2,412.8 2,429.0
112.7
262.7
22.0
29.1
80.6
401.0
712.9
221.7

113.7
263.6
23.2
31.6
80.7
408.8
711.1
223.3

113.7
268.9
24.6
33.0
78.2
412.4
714.9
226.5

114.9
273.1
25.7
32.5
77.4
412.9
723.7
230.7

116.6
274.5
26.6
32.6
77.0
405.8
735.9
240.0

118.5
276.2
27.1
32.1
75.8
390.9
757.4
251.5

115.8
261.5
43.3
32.6
80.7
374.9
779.1
260.7

115.9
242.3
51.2
31.7
92.4
365.3
789.5
265.3

116.8
241.4
56.8
'33.0
105.6
'365.5
796.6
'261.7

118.5
249.8
64.6
'33.4
117.1
'366.5
'796.9
'255.9

119.3
239.1
62.4
37.5
118.1
359.7
803.2
263.9

373.8
379.5
382.8
386.4
388.2
373.3
384.4
366.6
365.0
365.1
363.7
395.4
402.5
407.0
411.6
414.7
411.3
416.0
419.0
422.9
427.7
429.5
1,613.1 1,632.7 1,644.3 1,653.6 1,667.1 1,668.7 1,681.7 1,695.4 '1,717.4 '1,735.5 1,741.8
1,869.3 1,891.9 1,905.7 1,920.0 1,941.0 1,952.2 1,978.6 1,996.4 '2,012.3 '2,028.7 2,043.0
2,259.6 2,284.8 2,300.6 2,317.0 2,346.7 2,365.3 '2,398.4 '2,419.6 2,428.2
112.2
261.7
396.6
714.5
225.1

113.5
266.0
405.4
715.7
225.4

113.8
268.9
408.9
720.4
228.0

114.9
271.5
408.8
726.5
231.0

115.6
272.6
406.8
739.3
237.4

116.2
268.2
393.8
759.0
247.0

116.6
256.7
377.7
777.9
258.1

117.3
249.3
370.5
785.1
263.0

117.9
247.1
'368.1
791.2
'259.1

'20,982
'2,120
'196
'621
'2,774
'5,807
602
'402
218

'24,262
'2,539
'247
'689
'2,514
'5,751
493
'639
775

23,586
1,861
255
758
3,164
5,586
228
633
836

'870
'2,637
'1,681

'977
'3,329
'1,963

1,035
2,813
2,129

'742
* 1626
'3,938
'8,920

'754
' 269
'3,861
'9763

1010
-386
3,664
9,649

8,244

5,559

5,341

'6,143

'4,124

'6,763

'5,417

4,402

6,577

6,866
1,018
360

4,205
1,123
131

3,217
1,717
406

'3,074
'2,158
'491

'2,262
1,516
256

'3,647
'2,648
241

'3,209
1,831
'364

2,830
1,174
149

4,159
2,003
298

8,244
3,232
207
1,085
334
787
1,416

5,459
1,856
238
1,444
378
626
712

5,340
1,069
533
1,487
463
598
764

'5,723
'1,509
244
'1,169
'357
'830
'1,138

'4,034
'550
263
892
'200
'260
'1,182

'6,536
'2,422
'830
'1,058
'260
'278
'1,100

'5,404
'2,244
542
'692
477
'76
587

4,153
1,344
521
853
126
303
585

6,460
1,820
619
1,161
189
958
1,305

4,725
2,621

3,918
2,375

4,226
2,379

4,391
1,775

2,943
2,197

3,738
1,363

2,574
1,825

2,890
2,155

3,695
1,718

11,522

12,007

12,731

13,293

14,363

14,721

14,242

14,171

14,243

1,665
4.905

1,695
4.925

1,850
5.680

1,950
5.500

2,120
5.590

2,105
6.070

2,065
5.655

2,225
5.700

2,340
6.530

119.0
246.1
'367.1
'791.7
'257.1

119.7
244.0
361.1
800.6
264.9

'5,082
'1,881

3,192
4,737

S-18

SURVEY OF CURRENT BUSINESS

Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS

1979

1980

1980
Apr.

Annual

June 1981

May

June

July

Aug.

1981
Sept.

Oct.

Nov.

Dec.

Jan.

Feb.

Mar.

Apr.

May

FINANCE—Continued
SECURITY MARKETS—Continued
Bonds
Prices:
Standard & Poor's Corporation:
High grade corporate:
Composite §
dol. per $100 bondDomestic municipal (15 bonds)
do....

51.1
73.4

41.4
57.4

41.0
58.0

45.7
65.1

47.4
63.3

45.5
59.9

42.1
56.3

41.1
54.3

39.7
53.4

37.8
50.9

37.2
48.1

38.0
50.4

36.1
48.4

36.5
47.9

34.5
45.9

32.9
45.0

Sales:
New York Stock Exchange, exclusive of some
stopped sales face value total
mil. $.. 4,087.89

5,190.30

406.20

412.95

411.84

400.89

367.58

373.04

414.73

427.57

709.63

353.06

324.18

398.95

430.18

418.49

Yields:
Domestic corporate (Moody's)
By rating:
Aaa
Aa
A
Baa
By group:
Industrials
Public utilities
Railroads
Domestic municipal:
Bond Buyer (20 bonds)
.
Standard & Poor's Corp. (15 bonds)
U S Treasury bonds taxable $

percent.

10.12

12.75

13.21

12.11

11.64

11.77

12.33

12.80

13.07

13.63

14.04

13.80

14.22

14.26

14.66

15.15

... do ..
do....
do....
do

9.63
9.94
10.20
10.69

11.94
12.50
12.89
13.67

12.04
13.06
13.55
14.19

10.99
11.91
12.35
13.17

10.58
11.39
11.89
12.71

11.07
11.43
11.95
12.65

11.64
12.09
12.44
13.15

12.02
12.52
12.97
13.70

12.31
12.68
13.05
14.23

12.97
13.34
13.59
14.64

13.21
13.78
14.03
15.14

12.81
13.52
13.83
15.03

13.35
13.89
14.27
15.37

13.33
13.90
14.47
15.34

13.88
14.39
14.82
15.56

14.32
14.88
15.43
15.95

do....
do
do....

9.85
10.39
9.60

12.35
13.15
11.48

12.93
13.50
11.63

12.04
12.17
11.54

11.41
11.87
11.26

11.43
12.12
11.28

11.84
12.82
11.36

12.31
13.29
11.56

12.60
13.53
11.72

13.20
14.07
12.02

13.60
14.48
12.22

13.37
14.22
12.42

13.60
14.84
12.61

13.66
14.86
12.72

14.00
15.32
12.85

14.45
15.84
12.90

do....
do....
do

6.53
6.39

8.73
8.51

7.96
8.40

7.73
7.37

7.88
7.60

8.59
8.08

8.85
8.62

9.22
8.95

9.45
9.11

9.61
9.55

9.76
10.09

9.91
9.65

10.27
10.03

10.21
10.12

10.94
10.55

10.64
10.73

8.74

10.81

10.83

9.82

9.40

9.83

10.53

10.94

11.20

11.83

11.89

11.65

12.23

12.15

12.62

12.96

293.46
844.40
104.56
237.83

328.23
891.41
110.43
307.23

285.15
786.33
105.80
244.40

299.10
828.19
109.00
257.35

314.78
869.86
112.81
274.76

331.17
909.79
113.91
299.78

342.77
947.33
110.38
317.91

348.16
946.67
111.44
333.91

356.44
949.17
112.34
357.32

373.14
971.08
114.43
393.29

368.40
945.96
114.23
394.05

371.59
962.13
113.51
894.64

365.26
945.50
108.86
392.60

381.05 390.66
987.18 1,004.86
108.42 107.32
417.42 439.23

380.45
979.52
106.84
423.24

103.01
114.83
115.27
83.82
50.40
14.53
51.74
12.33
44.48
104.86
119.06

118.78
134.52
131.37
86.88
50.54
18.52
75.57
12.50
44.00
102.90
127.06

102.97
115.57
110.20
76.93
48.37
14.68
59.46
11.56
41.09
97.54
120.70

107.69
120.80
113.46
82.81
50.63
15.27
61.12

119.83
135.23
129.26
88.98
52.82
17.97
70.79
13.05
46.06
107.86
130.35

123.50
140.18
136.55
93.62
51.18
18.83
73.90
13.04
45.81
105.24
133.87

126.51
143.73
142.10
95.41
51.10
19.85
80.64
13.38
45.86
107.15
140.97

130.22
148.36
145.07
92.76
51.49
21.77
90.82

132.97
151.06
147.23
94.61
52.01
24.25
102.31

128.40
145.70
143.14
94.45
49.81
23.64
97.69

133.19
151.03
149.76
100.84

131.73
149.06
146.78
104.67
50.37
24.48
94.77

12.89
46.63
109.74
126.00

13.57
48.70
117.50
129.13

13.41
48.18
116.43
126.73

50.36
25.02
101.32
14.30
49.83
119.52
136.70

134.43
152.29
150.80
105.96
50.96
25.88
103.25

13.04
43.27
103.65
134.80

135.65
155.08
153.68
92.28
52.08
24.65
106.28
12.68
43.19
103.58
128.25

133.48
152.19
149.78
90.30
51.66
24.55
106.74

12.20
44.54
103.52
121.37

114.55
128.80
122.14
85.76
52.48
16.27
65.44
12.87
46.30
106.05
127.07

14.44
49.65
119.30
142.81

14.55
52.57
118.09
142.21

58.32
64.75
47.34
38.20
61.42

68.10
78.70
60.61
37.35
64.25

58.47
66.31
48.62
35.29
57.32

61.38
69.39
51.07
37.31
61.47

65.43
74.47
54.04
38.53
65.16

68.56
78.67
59.14
38.77
66.76

70.87
82.15
62.48
38.18
67.22

73.12
84.92
65.89
38.77
69.33

75.17
88.00
70.76
38.44
68.29

78.15
92.32
77.23
38.35
67.21

76.69
90.37
75.74
37.84
67.46

76.24
89.23
74.43
38.53
70.04

73.52
85.74
72.76
37.59
68.48

76.46
89.39
77.09
37.82
72.82

77.60
90.57
80.63
38.34
74.59

76.28
88.78
76.78
38.27
74.65

5.45
5.18
9.19
4.68
5.47

5.26
4.94
9.77
4.04
5.75

6.05
5.76
10.10
5.01
6.14

5.77
5.49
9.67
4.63
5.84

5.39
5.10
9.43
4.43
5.57

5.20
4.90
9.46
4.02
5.51

5.06
4.75
9.71
3.84
5.54

4.90
4.59
9.67
3.60
5.38

4.80
4.47
9.77
3.32
5.58

4.63
4.31
9.65
2.87
5.74

4.74
4.42
9.79
2.99
5.71

4.80
4.49
9.78
3.08
5.52

5.00
4.68
10.33
3.22
5.62

4.88
4.57
10.23
3.06
5.38

4.86
4.55
10.46
2.98
5.41

9.11

10.60

11.16

10.20

9.78

9.81

10.04

10.14

10.64

11.35

11.94

11.55

11.83

11.81

11.81

12.30

299,973
10,863

475,934
15,500

26,248
963

28,029
960

33,490
1,141

38,611
1,258

43,795
1,433

41,216
1,336

50,641
1,501

43,157
1,280

49,347
1,515

42,443
1,286

33,153
1,039

49,120
1,526

251,098
8,675

397,670
12,390

22,320
788

23,402
780

27,996
934

31,949
1,004

35,606
1,122

35,308
1,090

42,873
1,216

36,015
1,016

41,373
1,205

35,453
1,020

27,987
834

41,888
1,239

8,156

11,352

674

765

830

1,022

966

1,058

1,032

989

1,025

956

816

1,175

1,123

906

Stocks
Prices:
Dow-Jones averages (65 stocks)
Industrial (30 stocks)
Public utility (15 stocks)
Transportation (20 stocks)

.

Standard & Poor's Corporation: §
Combined index (500 Stocks)
1941-43=10..
Industrial total (400 Stocks) #
do....
Capital goods (111 Stocks)
do....
Consumer goods (189 Stocks)
do....
Utilities (40 Stocks)
do....
Transportation (20 Stocks)
1970=10..
Railroads (10 Stocks)
1941-43=10..
Financial (40 Stocks)
1970=10..
NewYorkCity banks(6 Stocks) 1941-43=10..
Banks outside N.Y.C. (10 Stocks)
do....
Property-Casualty Insurance (6 Stocks) do....
New York Stock Exchange common stock indexes:
Composite
12/31/65=50..
Industrial . . . .
..
.
do....
Transportation
do
Utility
do....
Finance
do ..
Yields (Standard & Poor's Corp.):
Composite (500 stocks)
percent
Industrials (400 stocks)
do....
Utilities (40 stocks)
do
Transportation (20 stocks)
do....
Financial (40 stocks)
do
Preferred stocks, 10 high-grade
do....
Sales:
Total on all registered exchanges (SEC):
Market value
mil $
Shares sold
millions
On New York Stock Exchange:
Market value
mil $
Shares sold (cleared or settled)
millions..
New York Stock Exchange:
Exclusive of odd-lot and stopped stock sales
(sales effected)
millions..
Shares listed, N. Y. Stock Exchange, end of period:
Market value, all listed shares
bil. $..
Number of shares listed
millions..

960.61
30,033

1,242.80
33,709

941.84
30,752

993.90 1,027.13 1,101.19 1,115.48 1,147.60 1,168.11 1,289.71 1,242.80 1,189.19 1,203.16 1,248.95 1,229.56 1,238.19
31,233 31,893 32,327 32,602 32,804 33,041 33,427 33,709 33,993 34,211 34,670 34,967 35,545

FOREIGN TRADE OF THE UNITED STATES
VALUE OF EXPORTS
Exports (mdse.), incl. reexports, total @
Excl. Dept. of Defense shipments
Seasonally adjusted @ @
By geographic regions:
Africa .
Asia
Australia and Oceania
Europe
Northern North America
Southern North America
South America
See footnotes at end of table




mil. $.. 181,815.6 220,704.9 19,146.7 18,770.0 18,674.8 17,213.7 17,946.1 17,829.0 19,948.9 18,614.0 19,545.1 47,964.0 18,845.4 22,928.5 20,511.9
do.... 181,650.8 220,548.7 19,134.4 18,764.4 18,674.8 17,177.7 17,938.4 17,800.9 19,936.9 18,609.9 19,537.5 47,962.2 18,838.0 22,917.7 20,509.3
do....
18,468.4 17,677.7 18,641.8 18,075.0 19,103.4 18,701.0 19,088.5 18,634.3 19,117.7 48,824.8 19,764.1 21,434.2 19,818.0
. do . 6,298.8
do.... 48,771.3
do.... 4,318.8
. . do.. . 60,025.9
do.... 33,096.7
do.... 14,886.5
do.... 13.571.7

9,060.4
60,168.3
4,875.7
71,371.4
35,399.0
21,337.7
17.376.8

809.8
737.9
755.7
798.7
731.4
765.6
4,917.4 4,870.7 5,224.8 4,925.6 5,273.6 4,956.2
377.1
397.4
424.3
391.4
431.6
416.8
6,753.9 6,283.9 5,862.9 5,240.4 5,303.2 5,107.6
3,149.7 3,074.0 3,070.0 2,499.0 2,648.2 3,040.7
1,713.5 1,806.6 1,766.4 1,864.4 1,790.7 1,796.1
1.319.5 1.490.1 1.485.0 1.453.2 1.557.8 1.578.4

746.3 ^OS.S
880.0
895.9
5,467.7 5,078.6 5,538.0 ^oio.g
1
589.4
393.6
388.9
425.9
5,965.6 5,589.1 5,949.0 '5,686.6
1
3,078.2 3,113.2 3,000.5 2,737.0
2,123.6 1,910.5 2,121.5 1'1,815.1
1.646.5 1.529.2 1.714.6 1.480.3

729.4
4,897.4
413.8
6,069.1
3,239.5
1,832.7
1.649.9

1,097.7
998.1
6,450.2 5,466.1
498.6
514.1
7,141.1 6,068.4
3,747.1 3,639.0
2,213.0 2,157.5
1.759.0 1.509.5

S-19

SURVEY OF CURRENT BUSINESS

June 1981
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS

1979

1980
Apr.

Annual

1981

1980
May

June

July

Aug.

Sept.

Oct.

Nov.

Jan.

Dec.

Feb.

Mar.

Apr.

FOREIGN TRADE OF THE UNITED STATES—Continued
VALUE OF EXPORTS—Continued
Exports (mdse.), incl. reexports—Continued
By leading countries:
Africa:
Egypt
mil $
Republic of South Africa
do
Asia; Australia and Oceania:
Australia, including New Guinea
do....
India
do .
Pakistan
do
Malaysia
do ...
Indonesia
do
Philippines
do
Japan
do....
Europe:
France
do
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....
North and South America:
Canada
do
Latin American republics, total #
do....
Argentina
do
Brazil
do .
Chile
do
Colombia
do
Mexico
do
Venezuela
.
do
Exports of U.S. merchandise, total §
do....
Excluding military grant-aid
do....
Agricultural products, total
do
Nonagricultural products, total
do....
By commodity groups and principal
commodities:
Food and live animals #
mil. $..
Meats and preparations (incl. poultry) .... do....
Grains and cereal preparations
do....
Beverages and tobacco
do....
Crude materials, inedible, exc. fuels #
do....
Cotton, raw, excl. linters and waste
do....
Soybeans, exc. canned or prepared
do....
Metal ores, concentrates, and scrap
do....
Mineral fuels, lubricants, etc. #
mil. $..
Coal and related products
do....
Petroleum and products
do....
Oils and fats, animal and vegetable
do....
Chemicals
do
Manufactured goods #
do....
Textiles
do
Iron and steel
do
Nonferrous base metals
.
do
Machinery and transport equipment,
total
mil $
Machinery total $
do
Agricultural
do...
Metalworking
do
Construction, excav. and mining
do...
Electrical
do
Transport equipment, total
do....
Motor vehicles and parts
do....
Miscellaneous manufactured articles
do...
Commodities not classified
do....
VALUE OF IMPORTS
General imports total
do
Seasonally adjusted @
do...
By geographic regions:
Africa
do..
Asia
do
Australia and Oceania
do....
Europe .
.
do
Northern North America
do....
Southern North America
do .
South America
do
By leading countries:
Africa:
Egypt
do..
Republic of South Africa
do....
See footnotes at end of tables.




14329
14130

18736
24635

1992
1788

1705
1996

127 8
1990

157 8
2170

132 2
2397

1639
1846

145 1
2414

1529
3525

11527
'2144

1348
2183

164 7
2143

1938
271 1

1980
2604

3,649.5
314.5
329.6
4,130.7
3566
526.4
336.5
332.6 1370.7
3559
4170
3202
3572
3546
4269
1 1670 16894
1184
1182
1452
122 1
1306 '1477
1322
1542
1890
1240
1399
1229
108 1
549
141 9
529 1
380
457
6421
41 0
33 4
71 4
626
848
638
289
399
289
989
1373
9321
13369
1107
864
1468
1175
116 1 '1152
113 1 1289
1978
946
137 1
75 9
981 5 1 545 1
1222
1280
966
3029
1685
1399
115 7
886 11107
867
1180
1080
243 7 1140 3
15701
1521
1449
1999 1
157 2
1870
1323
148 7
164 3
1485
124 4
1687
142 1
17,581.0 20 790.0 18431 15991 17877 17182 17515 16822 1800 1 17930 18289 4741 8 17460 2 161 1 1756 1
55870

74854

6391

6233

586 1

631 2

5370

546 2

678 1

5840

572 6

16175

630 7

847 3

7058

3560

4786

640

368

292

21 0

54

250

186

336

687

149 5

50 1

339

40 0

84778
43618
3,607.3
10,634.9

10 959 8

9047
10226
5 511 1
5404
4668
1,512.8
45.7
110.5
12,693.6 1 348.5 12860

964 1
537 7
51.0
10492

869 2
4075
43.4
8707

8070
444 3
35.4
9070

815 2
871 8
3788
3533
49.9
151.2
9273 1 1396

8968
4239
264.7
9354

828 3
5563
272.8
9946

1339 7

30699
3,032.9
2099
3683
104 4
1537
1 2433
4069
18,300.0
183000
30175
15 282 5

24990
3,087.1
1909
3683
1366
146 4
1 3394
3857
16,903 4
16 867 3
3019 7
138837

33 095 8 35 395 3 3 1497
26,258.9 36,030.4 2,814.1
2625 3
183 5
18898
34417
43435
3216
8855
1 353 5
96 2
14093
17356
1190
98473 15 144 6 1 211 4
39335 45728
3698
178,590.9 216,592.2 18,814.9
178,426.0 216 436 0 18 802.6
34 755 4 41 255 9 34685
143,832.6 175,336 3 15 346.4

30740
3,079.0
2802
3827
104 5
153 1
1 273 0
3586
18,395.3
18 389 6
32032
15 192 0

22,250.9
1,126.9
14,453.8
2,336.5
20,756.0
2,198.4
5,708.0
3,324.5
5,620.5
3,496.0
1,918.2
1,845.0
17 307 9
16,234.2
3 1894
23420
16094

27,743 7 2 134.8 1954 1
1,292.6
103.0
104.8
18,079.0 1,423.3 1,199.2
2,663 0
224.7
2005
23,790.7 2,255.2 2,186.1
2,864.2
313.4
311.4
5,882.9
544.2
489.4
4,517.6
396.2
430.0
7,982.3
630.5
736.5
4,771.7
404.2
452.1
2,833.4
204.8
249.7
1,946.3
210.1
201.1
20 740 2 1 7506 1 851 7
22,254 6 21608 18847
36320
307 1
2959
3 1228
2639
2789
29639
2465
2549

70 407 3
44 744 5
26355
13914
1 233.8
86350
25,750.4
15,076.5
12 637.4
9,030.3

84 552 9
55 789 7
3 1036
17563
16277
10 484 5
28,838.8
14,589.6
16 343 1
8,419.5

70154
4 611 6
2833
1386
1384
8836
2,407.2
1,267.3
13046
1 1158

73496
4 7837
2741
1492
1505
9134
2,567.4
1,214.7
13401
685.1

8636 1 0259 864 1
14182
574 3
394 5
4606
1
343.9
258.4
141.6
199.1
'9613 1 1218 12403 1 1564
32395 37470
3,690.3
2993
3483
1586
1503
1 6200
4878
22494.1
224833
4 6669
17 827 2

36390
3,395.1
212 2
3308
1153
144 3
1 6039
4368
20,102.3
200997
3751 4
16 350 9

1,853.6
'2217
'2,044.0
'299.5
'614.0
'275.8
'619.5
'302.6
'278.1
'123.5
'1 681 4
'1 7052
'285 6
'240 5
'234 5

27092
1233
1,830.9
1983
1,843.5
296.4
465.6
274.1
705.3
339.2
323.5
124.7
1 684 5
16648
2882
2289
1682

3004 1
1494
1,942.3
2623
2,325.9
315.0
847.8
234.1
826.2
499.3
2965
206.8
2 044 6
20246
3662
2434
224 6

26405
1275
1,722.8
2190
1,823.9
2086
487.2
2832
7455
420.8
2858
145.4
1 7639
19409
343 4
2550
2206

7 531 1 '6 472 0
4 791 2 14 592 2
2689 '2316
168 1 '178 5
1225 '1227
8693 '830 1
2,742.5 '1,880.5
1,202.0 '1,060.4
1 311 5 '12539
7038 '723.0

75222
4 8506
2648
1754
1354
895 5
2,673.3
1,334.5
1 311 1
750.9

9 395 1
6047 1
3626
2225
1716
1 1035
3,351.8
1,592.5
16309
762.7

8651 4
5456 1
3175
1882
1626
9854
3,196.1
1,531.5
14892
680.0

2648 1 30406
3,108.7 3,141.4
211 5 2590
4145
3828
1223
1170
1547
1385
1 271 0 1 262 2
4102
4179
17 630 7 17 527.9
17 623 0 174998
3 243 6 32362
143870 14 291 7

3 078 1
3,510.6
2598
3598
141 4
1582
1 5424
463 1
19 520.6
19 508 6
36729
15 847 7

3 113 2
3,223.9
271 7
3614
1363
1289
1 407 5
3976
18,247.6
18 243 5
3 7964
14 451 2

29977 i2 736 7
3,580.5 '3,071.0
2389 1276 7
4648 '3610
144 4 1135 3
1743 1116 1
1 581 1il 297 4
4099 '3477
19,217.2 11 17,598.0
19 209 6 175962
42794 14 067 2
14 937 8 '13 530 9

20719 22035
115.8
1090
1,289.8 1,442.6
1963
175 1
2,032.7 1,723.1
244.5
190.4
395.8
350.8
448.2
350.9
730.1
707.0
415.6
462.1
268.3
250.1
134.9
140.5
1 861 5 1 792 3
19770 17243
3200
272 6
298 1 273 1
2809
241 2

23400 25010
962
103.4
1,613.1 1,657.7
1798
2074
1,865.0 1,535.1
155.9
150.4
434.1
313.4
389.6
298.1
709.7
702.9
480.9
430.0
204.6
227.7
161.7
160.5
1 760 1 1 6657
19469 18361
3020
307 5
2755
2944
341 7
2899

26894
130.6
1,710.0
2494
1,776.2
95.0
493.6
325.1
755.3
502.8
238.1
145.3
1 7659
19355
3282
288 4
253 2

26529
118.6
1,765.1
2627
1,761.3
181.3
626.6
226.3
785.3
458.8
269.4
131.0
1 4880
17177
314 1
250 1
2199

29194
125.2
1,929.0
2753
2,001.3
225.2
635.4
266.5
740.9
417.8
279.7
151.0
1 7690
18064
321 5
2653
214 l

73029
4 9658
2902
1629
1665
8967
2,337.0
1 235.0
1 2899
7029

6 7309
4 761 9
2371
155 1
1371
891 6
1,972.1
9758
12957
6401

7934 7
5 1306
2514
1736
141 9
997 3
2,812.5
1 445.9
14006
8564

7 372 8
47237
2363
1639
1303
8707
2,650.1
1,312.0
13240
7479

6698 7
46466
2825
1605
1555
8650
2,080.8
992.5
1 246 1
4568

7 0187
4 6027
2426
1580
1463
8290
2,426.9
1 1867
13035
562 1

1

21752 0

1

1193

3,251.2
2004
4533
102 1
134 6
1 3299
474 8
18 522.0
18 514 6
3 825 8
146962

206 255 8 240 834 3 196258 205029 205200 19 324 3 188588 19 078 7 20 267 8 19 532 7 21 312 0 '22 577 1 2i 124 3 21 362 6 22 775 2
192572 20 439 4 19 893 1 189954 192356 19 465 0 200605 19 422 4 21 173 9 '23 194 3 21 921 7 209493 222892
24 381.6
66 739 3
30720
43 546 7

322509 27534 3 1706 27994 23737
788480 64103 65468 7 131 1 66362
33919
2349
3038
2907
2816
47 849 7 42485 4 1552 38859 4011 3
38,069.1 41,470.9 3,245.8 3,349.2 3,255.9 3,124.4
172680 22 656 9 17887 20673 20026 18202
13 172 3 14 361 6
9985
1 1540 1 0766

3810
2,616.2

4584
3,320.5

575
405.7

338
291.2

445
208.5

38
270.2

27445
6314 1
2680
37734
2,828.1
1 8194
1 1109

21489
6 721 5
2150
38086
3,341.7
16864
1 1562

25564
6531 5
2993
3964 3
3,929.9
19139
1 072 1

22731
62205
3523
37305
3,747.7
18009
1 407 5

28901
6837 3
3238
40742
3,807.3
1 8459
1 5332

'30333
'80082
'3616
'4 1607
'3,623.4
'1 761 7
'1 627 4

416
291.9

264
203.8

295
297.5

126
291.8

99
275.4

'597
'234.0

30445
6555 1
2550
40334
3,678.1
20124
1 5456

23020
7 1610
1875
4 5065
3,990.0
19213
1 2940

32195
74684
3158
45881
3,922.2
21286
1 1323

515
181.5

501
219.8

214
197.4

May

S-20

SURVEY OF CURRENT BUSINESS

Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS

1979

1980

1981

1980
Apr.

Annual

June 1981

May

June

July

Aug.

Sept.

Oct.

Nov.

Dec.

Jan.

Feb.

Mar.

Apr.

FOREIGN TRADE OF THE UNITED STATES—Continued
VALUE OF IMPORTS—Continued
General imports—Continued
By leading countries—Continued
Asia; Australia and Oceania:
Australia, including New Guinea
India
Pakistan
Malaysia
Indonesia
Philippines
Janan
.

mil. $.. 2,236.1
10377
do
120.0
do....
21456
do
. . do. .. 3 620.6
14901
do
do
26 248 2

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
North and South America:
Canada
do....
Latin American republics total $
do
Argentina
.
do
Brazil
do....
Chile
do
Colombia
do....
Mexico
do
Venezuela
do....
By commodity groups and principal
commodities:
Agricultural products, total
mil. $..

194.3
143.9
221.5
280.9
255.1 '306.3
187.8
220.0
200.1
172.1
156.4
204.9
212.1
103.8
110.8
96.8
72.9
'99.5
121.0
103.3
77.9
788
936
749
986
823
14.7
15.1
9.5
8.9
13.0
'13.9
14.4
10.3
10.3
12.8
9.8
10.4
10.2
1
182.7
164.2
2348
231.4
198.6
206.9
192.6
1955
2146
1876
2309
2158
152.8
602.9
486.2
415.6
499.5
346.8
574.8 11552.6
429.7
255.7
417.0
435.2
440.3
440.8
142.6
162.3
1309
207.9
1505
197.1
180.5
1389
154 1
1461
1354
1432
1497
25647 2 656.6 2,677 4 2 613.4 2,541.3 2,642.0 2,568.9 2,591.8 2,713.7 '3, 196.1 2,341.2 3,053.1 3,223.0

4,767.8

5,247.0

442.2

489.0

441.8

429.6

428.2

345.8

457.8

378.1

494.9

'499.6

455.8

465.3

456.7

364

439

26

35

36

30

39

28

39

26

4.2

'4.9

2.9

3.8

4.1

9924 10535
360.8
382.8
329
351
7410
788.0

933.1
386.5
229
734.3

8448
297.0
953

8618
284.9
533
907.0

8763
332.6
288
743.1

896.4
414.4
559
885.6

'995.8
'391.7
'829
'854.6

758.0
396.7
32.4
869.1

10 955 4
49175
8736
80277

11 681 2 1 101 1 1 1175
328.3
3482
43131
106
222
4532
763 1
97551
8276

38,046.1
24 767 0
587 1
3,118.2
4398
1,209.4
88001
5,165.9

41,455.4
29 851 2
740.8
3,714.6
5150
1,240.5
12 519 5
5,297.1

16,879.5
189 376 3
15,169.5
554.9
38197
2,539.3
9743
25650
10 652 7
32491
15467
2312
897 1
59 997 9
56 035 6
7398
74786
300641
74665
23221
6,320 1
22163
53,677.3
28 043 5
1,442.4
65880
25 633 9
22 074 8
21 006 3
4904 6

17,425.0
223 409 2
15,762.7
395.2
3 872.3
2,346.3
19875
2 771.5
10 495 9
36961
1 773.4
2421
816.1
79 057 7
73 770 9
5334
85827
32 190 4
73636
26852
7 622.7
24933
60,545.7
31 903.6
1,813.7
8 064.1
28 642 0
24*133 9

1216
124.5
1513

1381
133.0
183.6

1287
1104
142.1

mil $
thous sh tons
mil $

Food and live animals #
Cocoa beans
Coffee
Meats and preparations .. .
Sugar

do....
do....
do
do....
do

Beverages and tobacco

do

Metal ores
Paper base stocks
. . .
Textile fibers
Rubber
. .
Mineral fuels lubricants etc
Petroleum and products
Chemicals
Manufactured goods 4£
Iron and steel
Newsprint
Nonferrous metals
Textiles

2,562.3
10976
127.6
25770
5 182.5
17303
30 701 3

do
.... do.. .
do
. do.. .
do
do
do
do
do
do
. . . do. ..
do

Machinery and transport equipment
Machinery total #
Metalworking
Electrical
.
Transport equipment

do....
. do
do....
. do .
do

Miscellaneous manufactured articles
do
C mmodities not classified
do
Indexes
Exports (U.S. mdse., excl. military grant-aid):
Unit value
1977—100
Quantity
do....
Value
.
do
General imports:
Unit value
do
Quantity
do
Value
do..

3,245.2 3,348.6 3,255.9 3,120.8 2,825.1 3,339.7 3,929.7 3,747.7 3,804.8 '3,622.0 3,676.4
22103 24683 26173 22826 2 141.0 22618 24191 2 669.2 2,824.2 '2,801.8 2,933.5
'119.6
94.2
63.5
105.3
86.2
71.0
547
54.1
61.1
58.2
32.9
382.4
304.1
433.3
333.6
'390.2
293.3
303.2
323.2
300.0
266.3
317.3
39.6
46.9
30.9
'56.5
50.7
34.3
40.2
482
31.4
42.4
442
98.3
119.8
'97.2
86.1
92.2
88.8
115.7
93.7
69.1
134.8
92.1
915.0 1,106.6 1,031.4 1,069.8 '918.1 1,167.2
904.8 1 045.8
9685 1 1599 1 1847
696.4 '717.7
612.3
372.3
449.0
420.5
311.7
306.1
422.7
339.3
407.0
1,219.3
17 859 3
1,121.9
20.0
217.1
152.9
172.2
261.3
8372
279.8
136.2
11.0
75.6
58305
5,460.4
330
6413
2,412.9
5200
2160
567.4
1947
4,952.2
2,621.5
136.8
674.6
23308
20003
20773
911 1

1,410.6
18 857 2
1,304.8
19.2
250.7
246.8
172.4
286.3
8306
302.4
134.3
16.5
42.7
6,231.0
5,846.1
646
745.9
2,629.7
5448
224.9
688.3
1961
5,333.3
2,754.5
150.3
729.6
25788
2 210.6
21042
7374

1,529.9 1,536.0 '1,613.0 1,714.8
180028 19 776 0 '21 007 0 19 471 8
1,441.3 1,385.9 xl,471.0 1,340.9
56.3
21.0
43.1
'29.4
290.1
310.8 '332.5
273.3
189.7
199.1
226.0 '206.9
177.7
334.1
169.0
'225.8
236.0
217.4
'253.3
243.6
'885.9 1,029 4
8564
871.2
311.5
303.0
293.2 '320.9
'167.9
159.0
144.2
150.8
'26.7
33.4
19.5
17.5
64.7
59.2
'40.5
111.1
5 879.6 7 218.4 '8,014.2 7,943.4
5,446.1 6,766.8 '7,388.5 7,344.7
600
69.0
'50 1
513
767.4
650.3
718.1 '735.8
2,641.9 2,854.7 '2,910.5 2,795.1
6174
737 1 '658.6
6775
233.4
216.5
232.5 '231.2
650.9
601.7
656.6 '623.6
209.4 '258.0
226.2
204.4
5,236.2 5,335.7 '5,615.7 4,694.2
2,733.8 2,874.5 '2,886.4 2,611.4
144.0
156.7
155.1 '186.6
747.7 '702.5
668.1
606.2
25025 24613 '2 729.3 2,082.8
2 191.4 2,014.9 '2,311.7 1,689.4

Value
General imports:
Shipping weight
Value
See footnotes at end of tables.




3,987.7

3,921.6
2,636.6 2,659.0
56.0
136.5
297.1
413.6
70.6
50.0
69.4
63.3
1,104.9 1,245.4
407.0
496.5
1,506.3 1,417.6
19 826 6 21 326 7

1,478.5
19 114 5
1,293.8
45.5
342.3
189.7
1238
244.0
8860
3073
165.7
269
81.1
68945
6,515.0
307
7684
27958
7416
2445
583.2
2194
5,074.1
2,683.2
141.2
683.7
24810
20246
1 9207
5949

1,488.5
19 031 5
1,372.8
32.0
373.0
164.0
177.6
223.3
9137
369 1
147.9
215
63.8
69376
6 531.4
412
7624
2 662.1
600 1
2365
595.9
2208
5,052.3
2,685.5
148.5
686.1
23668
1 9936
2 0306
5240

1,439.8
17 884 5
1,335.5
40.8
347.9
213.5
195.0
253.1
8578
326.1
130.3
19.5
57.6
5 792.3
5,421.2
308
7050
2 447.3
5435
208.5
559.5
192.2
5,166.7
2,782.0
161.9
712.0
23846
2*008 1
2 1825
5534

1,310.9
17 548 0
1,207.2
23.3
302.3
180.1
187.5
227.6
8124
275.0
150.4
20.9
44.8
6 235.9
5,867.7
308
616.9
2,486.1
6292
201.7
508.2
191.5
4,565.7
2,578.0
183.7
647.1
19876
16639
2 1432
5332

134 1
142.8
1914

133 1
140.7
187.2

1358
137.2
186.3

138.1
124.3
171.7

139.7
128.5
179.4

1402
127.0
178.1

142.7
139.2
198.6

146.8
126.5
185.7

147.7
132.4
195.5

'149.5
'119.8
'179.1

149.0
126.4
188.4

148.4
154.2
228.8

150.4
136.0
204.6

161.4
1026
165.5

1593
1020
162.6

160.2
106 1
170.1

163.2
103.9
169.6

163.8
97.4
159.6

164.7
94.1
155.1

165.1
950
156.9

166.4
100.1
166.7

167.2
96.1
160.8

169.7
99.9
175.4

'173.1
'107.3
'185.8

174.3
99.7
173.8

176.1
99.8
175.8

175.9
106.5
187.3

357 793
97579

401 173
118 840

34391
10 162

34042
10071

35716
10282

33978
9619

36373
10225

33668
9662

36364
10642

33354
9723

35590 '30 586
10,661 '10 145

597 495
140 091

487 935
164 924

39430
13564

42630
14532

43,584
14594

36,982
13483

38,122
13328

35812
12753

38,068
13185

35,684
12784

40,858 '42,630
14374 '15 920

1,458.2
18 222 4
1,278.9
62.0
354.4
154.4
117.4
224.7
867 1
3512
141.4
208
56.1
63459
58332
488
7653
26181
6221
2176
585.3
2136
5,027.2
2,613.6
174.2
630.3
24684
2031 9
23711 0 1 8972
5525
7 1833

19834
5487

1,225.0
62.0
205.5
168.9
143.9
261.5
244.9
989.3 1,038.3
354.1
278.0
132.4
163.4
32.4
34.0
79.6
71.4
6,475.9 7,835.5
5,992.5 7,368.9
249
466
825.4
818.1
2,807.7 3,125.0
9330
6228
236.3
248.6
606.6
576.5
249.2
252.0
5,984.2 5,954.3
3,174.3 3,125.4
159.0
152.5
711.9
757.1
2,810.0 2,828.9
2,324.6 2,329.9
20172 '2 012 5 17793 20548 19110
574.5
4786
5681
624.4 '6281

Shipping Weight and Value
Waterborne trade:
Exports (incl. reexports):

970.0 1,011.0
395.6
397.6
197
445
1,119.1 1,103.9

1,372.9
37.8
243.6
153.6
182.3

May

SURVEY OF CURRENT BUSINESS

June 1981
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS

1979

1980

1981

1980
Apr.

Annual

S-21

May

June

July

Aug.

Sept.

Oct.

Nov.

Dec.

Jan.

Feb.

Mar.

Apr.

May

TRANSPORTATION AND COMMUNICATION
TRANSPORTATION
Air Carriers (Scheduled Service)
Certificated route carriers:
Passenger-miles (revenue)
bil..
Passenger-load factor
percent..
Ton-miles (revenue) total
mil .
Operating revenues (quarterly) # §
mil. $..
Passenger revenues
do....
Cargo revenues
do....
Mail revenues
do—
Operating expenses (quarterly) §
do—
Net income after taxes (quarterly) §
do....
Domestic operations:
Passenger-miles (revenue)
bil..
Cargo ton-miles
mil
Mail ton-miles
do....
Operating revenues (quarterly) §
mil. $..
Operating expenses (quarterly) §
do—
Net income after taxes (quarterly) §
do....
International operations:
Passenger-miles (revenue)
bil..
Cargo ton-miles
milMail ton-miles
do
Operating revenues (quarterly) §
mil. $..
Operating expenses (quarterly) §
do....
Net income after taxes (quarterly) §
do....
Urban Transit Systems
Passengers carried, total
mil..
Motor Carriers
Carriers of property, large, class I, qtrly.:
Number of reporting carriers
Operating revenues, total
mil. $..
Net income, after extraordinary and prior period
charges and credits
mil. $..
Tonnage hauled (revenue), common and contract
carrier service
mil. tonsFreight carried—volume indexes, class I and II
intercity truck tonnage (ATA):
Common and contract carriers of property
(qtrly.)
average same period, 1967—100.
Common carriers of general freight,
seas, adj
1967-100
Class I Railroads *
Financial operations, qtrly. (AAR), excl. Amtrak:
Operating revenues, total #
mil. $..
Freight
do—
Passenger, excl. Amtrak
do—
Operating expenses
do—
Net railway operating income
do—
Net income (after taxes)
do—
Traffic:
Ton-miles of freight (net), total, qtrly
bil..
Revenue ton-miles, qtrly. (AAR)
do..
Price index for railroad freight
1969=100..
Travel
Hotels and motor-hotels:
Restaurant sales index.... same month 1967—100..
Hotels: Average room sale
fl
dollarsRooms occupied
% of total..
Motor-hotels: Average room sale
ff
dollars .
Rooms occupied
% of totalForeign travel:
U.S. citizens'. Arrivals
thous..
Departures
do
Aliens: Arrivals
do..
Departures . . ..
.
do
Passports issued
do....
National parks, visits @
do
COMMUNICATION
Telephone carriers:
Operating revenues #
mil. $..
Station revenues
do..
Tolls message
do
Operating expenses (excluding taxes)
do—
Net operating income (after taxes)
do—
Phones in service, end of period
milTelegraph carriers:
Domestic:
Operating revenues . . .
. mil $
Operating expenses
do....
Net operating revenues (before taxes)
do....
Overseas, total:
Operating revenues
do—
Operating expenses
.
do
Net operating revenues (before taxes)
do—
See footnotes at end of tables.




262.06
62.9
33388
27221
26,786
2,211
363
27018
403

254.18
59.0
32487

2052
58.5
2635

2058
57.4
2665

2327
63.0
2914
8152
6,844
591
153
8289
116

2449
62.9
3050

2639
66.3
3236

1961
55.9
2540
8926
7,555
590
143
8657
203

2069
57.7
2629

1786
55.2
2379

2022
57.8
2590

209.13
3466
852
21,646
21,514
283

200.09
3274
944

16.48
268
78

16.06
284
78

18.19
273
71
6,559
6,612
-22

18.64
281
75

20.25
282
75

14.84
273
73
6853
6,700
105

15.80
293
81

14.24
265
76

16.34
248
108

53.57
2,497
373
5,575
5,505
^48

54.09
2,458
392

4.04
205
32

4.52
212
33

5.08
210
32
1,592
1,676
-94

5.85
214
30

6.76
210
31

4.77
203
29

4.25
216
33

3.62
215
37

3.88
170
43

3.60
145
28

2.92
162
28

•8,130

8,228

695

641

748

663

681

647

644

726

100
15,051

100
15,538

312

284

215

183

151 9

1509

637

718

1935
54.8
2437

r

!5.75
245
84

1700
54.2
2214

r

!4.08
246
78

1

14.39

1

14.31

1

15.29

2,073
1958
94
656

8
100
7,489

681

100
3,776

100
4273

8

83

105

8

42

49

8

96
92

155

1803

1479

25,352
23576
382
24,093
858
3
840

28,254
26,350
439
26,352
1,337
8
1,131

928.7
913.7
243.4

933.1
918.2
285.5

1505

1417

1404

1360

141 4

6,959
6492
107
6,662
175
184

1466

1474

279.7

230.8
2272
282.3

291.7

292.4

228.8
2224
298.5

299.0

177
49.04
71
3513
72

203
48.51
71
3599
69

277
49.56
75
3548
74

198
48.19
58
3670
64

309
49.40
48
3692
55

247
52.17
69
3437
66

267
53.05
77
3546
70

9971
11,252
2
9285
3,020
59081

728
754
806
692
340
3289

747
839
906
697
318
4694

820
946
172
1 056 1 035
954
995
1272
2183
768
883
1 175
329
303
222
7451 10482 10661

704
796
1000
858
200
6 195

50,604
21967
22389
33,110
9,084
155.1

56,738
24333
22983
37,983
10,194
159.9

4,599
1990
1853
3,093
832
157.7

4,638
2008
1861
3,099
828
157.7

4,659
1995
1 888
3,119
834
157.8

4820
2022
1996
3,167
889
158.0

4831
2030
1 987
3,228
860
158.3

6360
519.2
80.2

697 1
561.5
95.9

57 1
46.2
7.9

596
46.4
10.1

576
46.8
7.7

59 1
48.3
7.8

491.1
3262
142.7

7
534.2
7
3744
7

44.2
302
12.2

45.7
305
13.4

44.8
309
12.1

45.4
312
12.3

170
45.69
72
32.36
71

9,259
9681
9886
7814
3,170
56922

2
9,010
2

2

137.4

1530

1527

7514
7022
118
6807
540
544

6,995
6521
117
6,623
222
156

279.7

5

1509

P

151 7

7660
6960
469
636

299.6

2394
2359
300.5

313.8

317.7

234 9
321.4

*64 4
321.0

726
710
883
773
179
5250

610
655
787
718
150
2875

564
758
910
707
158
2 167

681
700
871
752
233
2027

587
670
692
552
237
2 109

735
735
819
618
338
2618

"338
3 481

4825
2059
1 959
3,305
827
158.8

5014
2113
2059
3,270
950
159.4

4848
2097
1 905
3,257
891
159.6

4970
2130
2*006
3,397
887
159.9

5 135
2201
2071
3,346
975
164.2

5048
2236
1 931
3,352
913
164.5

5307
2244
2 144
3,498
985
164.7

57 1
47.8
6.4

599
48.8
7.7

617
482
9.7

56 1
465
6.2

605
490
7.8

579
488
5.9

585
482
7.1

630
493
10.3

42.1
301
10.1

447
301
12.8

473
323
12.8

424
31 1
9.2

462
396
5.1

452
332
9.8

45 1
322
10.8

500
340
13.7

4
809
321.4

P

3 556

SURVEY OF CURRENT BUSINESS

S-22

1980

1979

Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS

1980
Apr.

Annual

June 1981

May

June

July

Aug.

1981
Sept.

Oct.

Nov.

Dec.

Jan.

Feb.

Mar.

Apr.

May

CHEMICALS AND ALLIED PRODUCTS
CHEMICALS
Inorganic Chemicals
Production:
Aluminum sulfate, commercial (17% A12O3) $
thous. sh. tons
Chlorine gas (100% C12) $
do....
Hydrochloric acid (100% HC1) $
do
Phosphorus elemental iji .
do....

1314
12,228
3090
460

1 182
11,198
2812
440

96
970
236
37

101
949
218
39

91
872
221
32

108
813
197
32

105
824
219
33

97
903
240
28

102
938
233
43

85
949
222
39

103
1,011
250
40

92
886
241
36

12772
770
1 115

11324
740
1258

967
64
101

901
56
102

874
65
114

843
46
104

840
66
106

907
66
101

972
56
109

966
53
100

1031
55
103

924
51
92

758
741

719
713

62
69

57
55

61
61

56
53

58
57

58
53

61
48

60
56

53
59

'10263
4,172

10201
3,042

834
3,774

826
3,664

821
3,594

863
3,570

834
3,503

802
3,405

842
3,306

843
3,269

thous sh. tons .
Ammonium nitrate original solution iji
do
Ammonium sulfate iji
do .
Nitric acid (100% HNO3) t
do

18523
7543
2363
8465

19,028
8590
4
1469
8931

1633
775
155
796

1626
782
149
783

1498
653
(2)
653

1,528
568
172
592

1,634
624
161
647

1,475
632
168
672

1,474
698
191
726

Nitrogen solutions (100% N) $
Phosphoric acid (100% P2O5) $
Sulfuric acid (100% H2SO4) $

2245
10317
43 119

3031
10808
43888

260
951
3967

280
838
3494

270
858
3471

250
801
3470

254
914
3540

232
909
3574

7662
366
7640

8086
372
6950

713
587
612

630
637
355

624
509
535

648
460
563

693
483
657

28
043
3
3176
17919
1576

42389
5,752
27661
2496

2049
219
1429
106

2034
171
1301
95

3123
398
1654
282

3013
402
1471
221

do
do...
do
do

277
245
9275
116

247
289
8907
'l58

52
53
756
17

20
12
527
22

10
26
563
21

Production:
Acetylene
mil cu ft
Carbon dioxide, liquid, gas, and solid
thous sh tons

5741

5633

481

443

3 124
99271
427 151
456 636

3544
95883
473 322
414615

268
8365
38348
36456

'2624
5 971 1

'33.7
1525
'242.5
'5 692 8

Sodium hydroxide (100% NaOH) $
Sodium silicate anhydrous iji

do
do

Sodium tripolyphosphate (100% Na5P3O10) $
Titanium dioxide (composite and pure) iji

do
do

Sulfur, native (Frasch) and recovered:
Production
thous Ig tons
Stocks (producers') end of period
do....

91

r
904
r

209
34

r

93
924
217
38

910
r
58
l!5

943
68
98

55
58

57
60

60
63

888
3,042

890
3,018

818
2,989

869
2,918

1,550
750
(2)
780

1,730
821
(2)
861

1,663
837
(2)
832

l,530
736
(2)
r
764

1,730
840
217
875

208
901
3610

242
916
3793

269
983
3994

257
869
3704

r
235
r

873
3480

316
941
3817

669
515
456

666
431
674

676
481
663

728
372
810

7
1,673
7

1,113
371

1,568
1,348
556

1,746
1,434
651

687

3 125
534
1657
156

2580
319
1560
178

2487
343
1595
83

1853
224
1 130
133

2486
337
1408
101

2,261
309
1,362
109

1,803
258
1,125
75

1,864
226
1225
94

1,859
245
1,184
114

10
11
762
0

27
14
638
11

12
12
751
0

19
16
836
13

13
26
901
6

17
18
952
10

20
42
681
0

18
13
681
13

31
46
876
25

45
28
806
35

439

382

429

483

506

405

504

509

438

466

289
8080
40088
34 916

324
7524
35665
29298

325
6845
37418
28163

334
6678
35649
31637

326
7857
40552
32186

298
7740
43459
35529

298
8632
43483
35966

292
9119
41900
37095

304
7879
40,146
35675

'278
8623
r
38 322
r
32 983

322
7827
41,198
36554

3.7
122
19.7
5116

3.8
135
15.8
4764

3.4
120
16.8
4229

2.7
117
15.7
3558

2.5
113
17.0
4160

2.8
148
19.8
4832

3.2
123
20.1
5242

2.7
117
22.2
4986

2.8
140
22.0
5190

3.0
10.4
21.8
452.8

2.6
102
20.8
5068

2.9
105
20.0
5134

20.7
997
530

25.3
1029
667

2363
1,114.9
3875
524.0
5579

r

838
2,877

Inorganic Fertilizer Materials
Production:
Ammonia, synthetic anhydrous $

do
do .
do

Superphosphate and other phosphatic fertilizers
(100% P205):
Production
thous sh tons
Stocks end of period
do....
Potash deliveries (K2O)
fl
do
Exports total #
^itrogenous materials
Phosphate materials
Potash materials

5
3

do
do..
do
do

.

Imports:
Ammonium nitrate
Ammonium sulfate .
Potassium chloride
Sodium nitrate
.

r

r

Industrial Gases

Nitrogen (high and low purity)

do

r

r

Organic Chemicals §
Production:
Acetylsalicylic acid (aspirin)
Creosote oil
Ethyl acetate (85%) . .
Formaldehyde (37% HCHO)

mil Ib
mil gal
mil Ib
do

Glycerin refined all grades
Methanol synthetic

do
mil gal

2978
1
l 1095
110129

3148
'10638
ig569

285
959
84 2

278
800
734

247
874
498

31.3
927
432

206
805
51 0

264
813
67 5

25.3
695
735

24.3
84 1
737

22.3
106 1
792

25.9
1097
686

mil tax gal
do

5703
536

6414
720

546
678

540
735

457
650

528
727

464
704

572
67 1

64.3
575

477
623

537
720

49.2
783

mil wine gal
.
do
do

260 7
2609
41

2852
278.7
107

275
284
34

264
256
34

282
23.8
66

227
22.6
166

213
23.1
199

226
23.2
102

215
21.4
48

164
16.4
78

219
17.9
107

231
25.6
7.0

'1 427 3 1178
11,459.3 1,059.4
'3 383.3
3288
'5,448.0
480.7
'5 497 0
4965

913
971.4
2874
398.6
4014

98.3
724.2
231.6
355.4
3515

95.5
761.1
2139
433.7
3494

1098
805.0
2416
397.9
3933

1209
906.8
2533
454.3
4589

131.9
967.3
259.3
495.8
515.6

126.4
972.4
282.2
464.2
5130

1125
1,021.1
286 1
498.2
4988

156.5
1,070.7
350.2
449.6
4446

1738
942.2
3186
448.5
4765

6829
367.3
1695
146.0

6893
341.0
1997
148.6

6982
329.5
2217
147.0

706.1
314.8
2335
157.9

5464
222.9
2023
121.2

5203
217.4
1933
109.7

5551
235.2
2088
111.1

r
5932
r
259.2
r

'319

'1616

1

ALCOHOL
Ethyl alcohol and spirits:
Production
Stocks end of period
Denatured alcohol:
Production
Consumption (withdrawals)
Stocks end of period

r

PLASTICS AND RESIN MATERIALS
Production:
Phenolic resins
. .. .mil Ib
Polyethylene and copolymers
do....
Polypropylene
.
do
Polystyrene and copolymers
do....
Polyvinyl chloride and copolymers
do

1

'17786
12,408.4
'3
823 9
1
6,326.9
'6 211 4

1

MISCELLANEOUS PRODUCTS
Explosives (industrial), shipments, quarterly
Paints, varnish, and lacquer, shipments:
Total shipments @ .
Architectural coatings
Product finishes (OEM)
Special purpose coatings
See footnotes at end of tables.




mil. Ib..

2,987.1

'3,000.4

mil $
do....
do
do....

•7
024 8
8
3,418.7
«2 284 0
6
1.322.0

7 635.9
3,641.2
24185
1.576.2

751.4
6480
317.2
2025
128.3

7024
366.1
1975
138.8

7216
381.7
193 1
146.8

788.6

704.0

741.2

2138
120.2

727 1
342.2
2460
139.0

26.0

P

451

S-23

SURVEY OF CURRENT BUSINESS

June 1981
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS

1979

Annual

1981

1980

1980
Apr.

May

June

July

Aug.

Sept.

Oct.

Nov.

Dec.

Jan.

Feb.

Mar.

Apr.

May

ELECTRIC POWER AND GAS
ELECTRIC POWER
Production:
Electric utilities total
By fuels
By waterpower

mil kw -hr 2 246 934 rr2 285 399 168 562 175 733 189 430 216 051
do.... 1 966 802 2 009 501 142 817 146 867 161 774 191 750
do
280 131 275 897 25745 28 866 27656 24302
Sales to ultimate customers, total (Edison Electric
Institute)
mil. kw.-hr.. 2 079 221 2 096 884 164 699 157 676 165 924 182 194
Commercial and industrial:
Small light and power §
do.... 493 494 509 815 38745 38321 41822 46461
Large light and power §
do
815 586 791 596 66 125 65 053 64 946 63 715
Railways and railroads ..
do
4245
4288
342
353
347
348
Residential or domestic
do.... 694 266. 721 116 53831 48483 53300 65866
Street and highway lighting
do....
14755
14813
1 199
1 154 1 124 1 121
49 48i
Other public authorities
do
48653
3 857
3900
3767
4 138
Interdepartmental
do....
7394
6603
533
545
551
545
Revenue from sales to ultimate customers (Edison
Electric Institute).
. ...
mil $ 77 691 5 91 667 8 68214 67438 74004 83920
GAS
Total utility gas, quarterly
(American Gas Association):
Customers, end of period, total
Residential
Commercial
Industrial
Other
Sales to customers, total
Residential
Commercial
Industrial
Other
Revenue from sales to customers, total
Residential
Commercial
Industrial
. .
Other

thous..
do
do....
do....
do....
tril. Btu..
do....
do....
do....
do....
mil. $..
do....
do....
do .
do....

46,817

215435 191 483 178 541 178 552 195 589 205 192 179 624 185435
194 959 172 991 160 675 159 335 173 298 182 836 158 490 164,863
20476 18491 17866 19217 22290 22355 21 134 20572

192 936 188 204 171 198 165 276 174903 187 047 180 663

349
66866

42476
66 978
356
55528

1 163
4 185
573

1203
4 249
550

1266
4 031
564

90298 87454

47206
43 504
3464
195
43

43 137
3441
193
45
15644
5077
2,506
7,753
309
39,380
14,769
6609
17495
506

47405
67 583

48872
65597
356
72190

40363
65657

351
53194
1307
3 835
568

41871
66324
381
60270
1353
4 147
557

78312 74488 79102

43944
65 189
379
71063

42615
65632
365
65789

1418
4466
589

1345
4340
578

85866 8324 3

46,886
42238
3414
189
44
2610

3169
899
447
1,768
55
9960
3,388
1534
4934
104

401
271
1,894
44
8,289
1,748
970
5482
90

FOOD AND KINDRED PRODUCTS; TOBACCO
ALCOHOLIC BEVERAGES
Beer:
Production
Taxable withdrawals
Stocks end of period

mil. bbl.
do
do...

Distilled spirits (total):
Production
mil. tax gal..
Consumption, apparent, for beverage purposes
mil. wine gal..
Stocks end of period. ...
mil tax gal
Imports
mil. proof gal..
Whisky:
Production
mil. tax gal..
Stocks, end of period
do....
Imports
mil proof gal
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....
DAIRY PRODUCTS
Butter, creamery:
Production (factory) @
. mil Ib
Stocks, cold storage, end of period
do....
Price wholesale, 92 score ( N Y )
$ per Ib
Cheese:
Production (factory), total @ . .
mil Ib
American whole milk @
do
Stocks cold storage end of period
do
American, whole milk.. . .
.
. . . . do
Imports
do
Price, wholesale, American, single daisies
(Chicago)
$ per Ib..
See footnotes at end of tables.




19168
17096
1396

184 19
16812
1329

1636
14 33
1531

1797
16 19
1744

1793
1581
1543

1872
17 08
1472

1702
15 35
1445

1629
14 51
1501

1495
1353
14 18

1302
1251
1394

1332
1238
1396

1331
1208
1398

140.53

13.92

1349

1096

4.72

7 14

897

14 17

1270

1496

1442

449 93
57802
11398

35.43
64921
826

3460
649 19
964

3728
64927
788

3635
63972
982

3448
63344
783

3468
62589
1135

3825
61726
1466

4253
62684
11 84

5440
57802
955

3297
61558
884

101.26
581 16
9540

84.31
51202
8600

10.30
58199
620

9.48
58421
708

7.85
58550
600

2.72
57677
7 43

445
57226
580

5.10
56561
904

675
55961
11 35

6.15
55603
909

7.58
51202
706

2348
2240
1003
453

'2619
'2522
926
483

172
1.49
1053
032

221
145
11 04
038

162
185
1003
029

265
207
983
035

192
175
1225
044

361
407
11 68
050

242
352
1055
066

43401
32848
55843
8763
25436

'504 02
'346 93
610.29
9768
204.38

566
2671
48183
780
149

465
29 76
43417
926
227

293
27 18
38480
7 38

2023
27 26
341 12
806
1022

164 44
23 16
48538
9 14

344

617
2692
36405
899
182

37 10

20168
3827
64349
876
9062

9846
177.8
1272

'1 145 3
'3046
1448

'1123
238 1
1396

'1166
2817
1413

'939
295.9
1 424

'837
3080
1433

'75 3
3064
1515

'77 0
3029
1517

'3 717 2 '3 983 1 '3366
'2 189 9 '2 374 6 '2075
5105
5788
5121
4051
4796
4065
2483
231 2
106

'3605
'2324

'3327
'2083

5444
4385
13 7

'3599
'227 1
5827
4721
15 1

6200
5077
17 6

'3176
'1929
6138
5012
17 5

1.542

1.548

1.555

1.570

186.68
1

447 52
64567
12365

1.414

a

1.562

1.535

1 98
151
10 57
032

1458
1241
1495

1672
1501
15 12

3088

872

10.04

903

7.38
55351
651

506

764

688

3 11
294
926
066

187
127
1090
085

242
103
11 86
035

038

055

5756
29 14
62703
923
3148

2347
3048
61029
903
1029

786
3034
55662
891
551

504
25 14
54825
752
3.52

744

770

'91 4
3015
1526

'84 7
3027
1536

'1036
3046
1539

121 3
3321
1534

110 1
3723
1537

1167
'407.4
1535

1169
445.2

'3170
'1798
6106
4982
24 9

'3321
'1866
5909
484 4
293

'3172
'176 7
5654
4623
309

'3544
'2048

3165
1981
5963
5086
11 6

3654
2245

3712
2375

5788
4796
44 4

3428
212 2
601 7
5047
103

'591 1
'5014
153

6332
5408
195

1.615

1.653

1.641

1.641

1.640

1.640

1.669

1.670

1.678

S-24

SURVEY OF CURRENT BUSINESS

Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS

1979

1980

1980

Annual

June 1981

Apr.

May

June

July

1981

Aug.

Sept.

Oct.

Nov.

Dec.

Jan.

Feb.

Mar.

Apr.

May

FOOD AND KINDRED PRODUCTS; TOBACCO—Continued
DAIRY PRODUCTS—Continued
Condensed and evaporated milk:
Production, case goods @
mil. lb..
Stocks, manufacturers', case goods, end of month
or year
mil. lb..
Exports
do....
Fluid milk:
Production on farms
do
Utilization in mfd. dairy products @
do....
Price, wholesale, U.S. average
$ per 100 lb..
Dry milk:
Production:
Dry whole milk @
.
mil lb
Nonfat dry milk (human food)®
do....
Stocks, manufacturers', end of period:
Dry whole milk
do
Nonfat dry milk (human food) @
do....
Exports, whole and nonfat (human food)
do....
Price, manufacturers' average selling, nonfat dry
milk (human food) @
$ per lb
GRAIN AND GRAIN PRODUCTS
Exports (barley, corn, oats, rye, wheat)
mil. bu..
Barley:
Production (crop estimate) fl .
. do .
Stocks (domestic) end of period
do
On farms
.
.. do
Off farms
do
Exports including malt §
do
Prices, wholesale (Minneapolis):
No 3 straight
do
Corn:
Production (crop estimate, grain only) fl .. mil. bu..
Stocks (domestic), end of period, total
do....
On farms
do....
Off farms
do
Price, wholesale:
Weighted avg., selected markets, all grades
$ per bu..
Oats:
Production (crop estimate) jf
mil. bu..
Stocks (domestic), end of period, total
do....
Off farms
do
Exports including oatmeal
.
do
Price, wholesale, No. 2, white (Minneapolis)
$ per bu..
Rice:
Production (crop estimate)
fl
mil bags $
California mills:
Receipts, domestic, rough
mil. lb..
Shipments from mills, milled rice
do....
Stocks, rough and cleaned (cleaned basis), end
of period
.
mil lb
Southern States mills (Ark., La., Term., Tex.):
Receipts, rough, from producers
mil. lb..
Shipments from mills, milled rice
do....
Stocks, domestic, rough and cleaned (cleaned
basis) end of period
mil lb
Exports
do
Price, wholesale, No. 2, medium grain (Southwest Louisiana)
$ per lb
Rye:
Production (crop estimate)
fl
mil. bu..
Stocks (domestic), end of period
do....
Price, wholesale. No. 2 (Minneapolis)
$ per bu..
Wheat:
Production (crop estimate), total
fl
mil. bu..
Spring wheat If
do
Winter wheat
fl
do
Distribution, quarterly @ @
do....
Stocks (domestic) end of period total
. do
On farms
do
Off farms
do....
Exports, total, including flour
do....
Wheat only
do
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
$ oer bu..
See footnotes at end of tables.




r

724.7

'68.5

'66.6

'68.9

'65.4

'57.3

'55.9

'51.5

'50.3

'60.7

55.7

54.7

'60.4

65.0

76.7
42.3

51.8
43.4

88.6
4.0

105.8
4.4

115.8
2.8

127.8
2.1

131.7
3.1

119.6
4.2

93.4
4.0

75.6
3.6

51.8
5.0

41.7
2.8

36.9
3.4

39.5
2.9

53.0
2.1

123,411
'66,041
12.00

128,425
'71,612
13.00

11,013
r
6,417
12.70

11,664
'6,849
12.60

11,321
'6,518
12.50

11,036
'6,195
12.60

10,782
'5,747
12.80

10,364
'5,531
13.20

10,455
'5,730
13.70

10,076
'5,208
14.00

10,491
'6,011
14.10

10,739
6,212
14.10

10,093
5,903
14.00

11,426
'6,718
13.80

'82.7
l,160.7

r

'5.5
l!5.1

'6.1
'135.8

'7.9
'132.5

'7.2
122.1

'6.3
'104.0

'6.4
'77.3

'8.0
'72.8

* '69.1
™

'6.9
'89.6

6.8
92.0

6.0
95.3

6.8
110.0

8.0
122.9

796.1

85.3
908.7

r

11,544 12,064
6,858
'13.60 '"'13.50

4.3
92.6
73.3

5.3
85.0
176.2

4.4
114.4
6.6

4.8
140.4
11.7

6.3
137.4
15.3

6.5
118.7
5.3

4.5
109.5
10.6

3.0
76.2
28.1

3.4
75.3
26.5

5.0
69.5
14.7

5.3
85.0
17.5

6.6
80.6
16.9

4.8
92.8
7.2

3.9
'96.9
11.4

4.0
93.6
14.6

0.800

0.887

0.872

0.887

0.888

0.889

0.892

0.897

0.922

0.936

0.939

0.938

0.936

0.937

0.938

3,640.3

3,914.3

321.0

266.3

298.7

327.6

363.2

350.5

368.1

366.4

382.9

348.0

341.8

361.9

326.1

9.3

390.8
248.0
142.7
6.7

6.8

301.9
184.1
117.8
9.1

11.5

202.1
112.2
90.0
4.8

3.5

199.8

3,995.0
2,650.6
1,344.4
222.2

185.3

2.5

2

2

382.8
365.6
246.4
119.2
34.5

358.5
301.9
184.1
117.8
68.9

2.67
2.61
2

7,938.8
6,886.2
5,041.7
1,844.5
2,333.5

526.6
476.8
400.8
76.0
4.8

6,647.5
5,857.4
4,140.1
1,717.3
2,485.3

131.9

5.1

2.67
2.63

2.76
2.69

2.90
2.95

3.7

5.6

6.4

(66)

()
5

3
3,670.4
3
2,577.8
3

213.3

1,092.6
170.3

192.0

2.64

2.88

2.75

197.1

1,617.5
5
920.9
5
696.6
206.2
202.6

240.9

5,857.4
4,140.1
1,717.3
238.6
245.0

1.7

0.5

390.5
328.9
61.7
0.9

0.7

1.5

255.8
211.4
44.4
0.8

208.3

(e)

2

457.6
390.5
328.9
61.7
9.0

1.57
2

6.7

797
4.7

2

2.42
2

4
192.1
4
112.4
4

4
236.4
4
198.3
4

0.5

38 1
0.4

1.2

1.52

1.64

1.65

1.0

1.3

484.1
3948
89.3
1.0

a

()

2

145.1

2,721
1,800

3,582
2,711

243
192

254
176

320
256

288
285

237
113

195
258

476
132

368
238

342
339

354
216

253
271

333
268

351
303

249

231

169

156

166

100

162

49

255

301

231

283

224

226

203

9,247
6,019

10,831
r
6,795

289
'480

166
445

155
611

218
412

829
498

2,439
568

2,170
687

1,077
583

1,358
761

436
590

830
635

749
852

274
660

2,503
4,978

2,969
6,620

1,859
518

1,552
585

1,082
540

866
644

912
419

1,938
577

2,664
409

2,813
474

2,969
730

2,686
533

2,604
613

2,342
809

1,853
688

0.173

0.225

0.240

0.240

0.220

0.210

0.205

0.205

0.210

0.245

0.265

0.270

0.270

0.275

0.275

2

2

22.4
17.7
2.51

2

2,134
2
533
1,601
2,051
1,716.2
773.9
942.2
1,265.1
1,222.5
2

16.3
9.3

4

2.18

122
2.44

2
2,370
2
478
2
1,891
r

2,185
1,903.8
754.1
1,149.7
1,344.5
1,309.5

2.73

(6)

18.4

9.3

6.8

^00
2,471.9
975.3
1,496.6
144.6
139.3
139.6
136.0

'569
1,903.8
754.1
1,149.7
133.4
131.9

571
1,333.2
542.5
790.6
134.0
128.8

7

'324
4
902.0
4
376.5
4

100.3
98.3

525.5
90.7
88.6

99.9
96.2

125.7
123.6

408
4.03

4.13
3.94

4.48
4.13

4.54
4.12

(66)
()

3.73

4.40

4.63

4.68

(6)

118.6
116.2

113.4
112.2

132.2
129.9

128.8
124.4

2,6'78

134.5
127.7

0.280

8

2,014

S-25

SURVEY OF CURRENT BUSINESS

June 1981
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS

1979

1980

1980

Annual

Apr.

May

June

July

Aug.

1981
Sept.

Nov.

Oct.

Dec.

Jan.

Feb.

Mar.

'24 959
22787
r
399
'435
51,084 r55 310

23880
422
53216

Apr.

May

FOOD AND KINDRED PRODUCTS; TOBACCO—Continued
GRAIN AND GRAIN PRODUCTS—Continued
Wheat flour:
Production:
Flour $
thous sacks (100 Ib )
Millfeed $
thous. sh. tons..
Grindings of wheat $
thous. bu..
Stocks held by mills, end of period
thous. sacks (100 Ib.)..
Exports
do
Prices, wholesale:
Spring, standard patent (Minneapolis)
$ per 100 Ib..
Winter hard 95% patent (Kans City)
do
POULTRY AND EGGS
Poultry:
Slaughter (commercial production)
mil. Ib..
Stocks, cold storage (frozen), end of period, total
mil. Ib..
Turkeys
do
Price, in Georgia producing area, live broilers
$ per Ib..
Eggs:
Production on farms @
... mil cases §
Stocks, cold storage, end of period:
Shell
thous. cases §..
Frozen
mil. Ib..
Price, wholesale, large (delivered; Chicago)
$ per doz..
LIVESTOCK
Cattle and calves:
Slaughter (federally inspected):
Calves
thous. animals..
Cattle
do
Prices, wholesale:
Beef steers (Omaha)
$ per 100 Ib
Steers, stocker and feeder (Kansas City) .... do....
Calves, vealers (So. St. Paul)
do....
Hogs:
Slaughter (federally inspected)
thous. animals..
Prices:
Wholesale, average, all weights (Sioux City)
$ per 100 Ib..
Hog-corn price ratio (bu. of corn equal in value
to 100 Ib live hog)
Sheep and lambs:
Slaughter (federally inspected)
thous. animals..
Price, wholesale, lambs, average (Omaha)
$ per 100 Ib..
MEATS
Total meats (excluding lard):
Production total
mil Ib
Stocks, cold storage, end of period
do....
Exports (meat and meat preparations)
do....
Imports (meat and meat preparations)
do....
Beef and veal:
Production total
do
Stocks, cold storage, end of period
do....
Exports
.
do
Imports
do....
Price, wholesale, beef, fresh, steer carcasses,
choice (600-700 Ibs.) (Central U.S.)
$ per Ib..
Lamb and mutton:
Production total
mil Ib
Stocks, cold storage, end of period
do....
Pork (excluding lard):
Production, total
mil. Ib..
Stocks, cold storage, end of period
do....
Exports
do....
Imports . . ..
do .
Prices, wholesale:
Hams smoked #
Index, 1967—100..
Fresh loins, 8-14 Ib. average (N.Y.)
$ per Ib..
MISCELLANEOUS FOOD PRODUCTS
Cocoa (cacao) beans:
Imports (incl shells)
thous. Ig tons..
Price, wholesale, Accra (New York)
$ per Ib..
Coffee (green):
Inventories (roasters', importers', dealers'),
end of period
.
. . thous bags fl
Roastings (green weight)
do....
Imports total
do ..
From Brazil
do
Price, wholesale, Santos, No. 4 (N.Y.)
$ per Ib..
Confectionery manufacturers' sales
mil. $..
Fish:
Stocks, cold storage, end of period
mil. Ib..
See footnotes at end of tables.




284 051
4945
636,375

282 655
4866
628,599

21231
368
47170

22814
390
49,836

21356
377
47,786

23137
410
51,760

24025
424
52,980

24813
430
54,762

26285
453
58,392

24420
392
54,582

25232
415
56,920

25860
421
57,513

3,975
18291

3,842
15014

867

918

4268
1606

894

2137

3716
1396

1034

522

3,842
609

980

1896

3897
2241

2932

9508
9268

'10566
*10 116

9688
9488

10375
10013

10338
9838

11.025
10000

10963
10 113

10975
10475

11 113
10600

11.138
10675

11050
10663

11 113
10400

10975
10275

11 100
10525

13,820

14,048

1,183

1,226

1,206

1,211

1,170

1,215

1,319

1,070

1,150

1,171

1,027

1,203

1,236

387
240

339
198

372
207

402
234

461
287

495
326

548
384

556
399

579
420

403
258

339
198

359
208

354
208

'373
r
221

392
230

0.260

0.270

0.215

0.235

0.245

0.310

0.320

0.325

0.305

0.285

0.295

0.285

0.290

0.285

0.255

1923

1936

159

16 1

155

159

160

159

16 5

161

168

166

150

166

15 9

38
23

31
24

30
26

47
27

51
29

39
29

28
31

39
30

15
29

19
25

31
24

22
25

19
24

0.662

0.628

0.568

0.508

0.546

0.632

0.659

0.688

0.643

0.757

0.773

0.714

2499
31504

2294
31 642

185
2540

161
2616

154
2533

186
2667

182
2 684

198
2 739

228
3002

185
2507

214
2725

6775
77.60
91.41

6696
71.30
75.53

6307
66.89
73.60

6458
65.52
71.88

6629
68.83
72.00

7047
69.48
73.00

7231
71.92
79.12

6968
71.53
85.00

67 18
71.64
83.40

6505
70.23
76.47

85425

91,882

8456

8167

7279

6910

6745

7601

8404

42.13

39.48

29.08

29.35

34.97

41.78

48.49

47.42

183

14 4

119

118

133

151

158

153

4833

5,363

466

454

400

420

427

466

510

415

468

488

426

488

66.58

62.46

59.50

62.75

64.00

67.50

68.25

65.75

62.00

55.67

53.75

46.50

54.50

37225
706
1,378
2,178

38590
750
1,661
2,050

3315
716
132
134

3311
706
139
173

3089
642
164
154

3070
578
145
208

3016
514
129
170

3221
510
136
133

3577
584
165
207

3097
679
144
167

3349
'750
154
191

3416
792
143
171

21671
361
366
1712

21849
338
425
1530

1772
305
37
93

1813
286
31
133

1755
264
36
111

1815
250
38
158

1804
235
40
125

1860
226
35
95

2064
250
39
162

1733
286
27
122

1892
338
33
143

1.011

1.044

0.994

1.020

1.052

1.101

1.120

1.080

1.055

1.014

284
11

310
9

28
8

27
9

22
10

23
10

23
9

26
8

29
8

15270
281
330
361

16431
349
314
433

1516
345
32
35

1 471
357
30
31

1312
314
32
35

1232
264
28
44

1 189
217
19
39

1335
222
18
31

2548
1.011

0.870

0.866

0.970

234 1
1.032

2669
1.116

165.2
1.604

1485
1.354

195
1.470

154
1.350

120
1.253

169
1.345

2521
17005
19396
1890
1.763
4347

2834
17047
18 153
3505
2.066
4908

1642
314
2.080
340

1566
277
2.180
325

2907
4,023
1663
287
2.110
318

355

345

252.6
1.076

2

471

3

r

393

r

334

r

32
'22

32
22

0.672

0.629

0.697

215
2803

190
2483

213
2726

6429
70.04
77.17

6308
68.56
77.38

6150
68.41
78.00

6140
65.47
80.88

7362

7788

7,768

6,873

7988

48.36

46.44

45.07

41.67

42.78

39.88

15 8

147

138

128

128

119

11075
10313

0.260

6492
66.28
83.90

6686
63.10
84.25

40.15

41.96

r

!20

12 6

55.25

59.25

65.00

3011
783
141
167

3383
r
776
169
131

819
248
155

1971
371
34
128

1751
356
38
128

1931
351
54
87

349
140
110

1.006

0.998

0.961

0.943

0.997

24
10

28
9

30
9

26
8

29
8

10

1485
269
28
40

1339
321
29
37

1428
349
28
39

1 416
351
27
37

1234
356
32
33

1423
'361
37
37

406
31
36

2748
1.114

286 1
1.136

294.2
1.100

288.8
1.094

251.3
1.156

2469
1.146

245.9
1.105

2524
1.035

2430
1.124

96
1.200

82
1.220

96
1.190

9.4
1.200

19.9
1.080

135
1.095

27.8
1.100

19.2
1.120

304
1.150

1.040

1533
419
1.950
293

1386
336
2.060
396

2956
3859
1062
208
2.060
526

1292
346
2.100
533

1486
352
2.100
454

2834
4,868
1,715
341
2.080
425

1,858
473
2.180
421

1,738
259
2.180
461

2850
4,737
1,395
364
2.180
r
463

1,299
138
2.180
409

1.290

359

380

379

391

388

344

'330

'295

"285

r

408

r

393

1.033

S-26

SURVEY OF CURRENT BUSINESS

Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS

1979

1981

1980

1980
Apr.

Annual

June 1981

May

June

July

Aug.

Sept.

Oct.

Nov.

Dec.

Jan.

Feb.

Mar.

Apr.

May

FOOD AND KINDRED PRODUCTS; TOBACCO—Cont.
MISCELLANEOUS FOOD PRODUCTS—Cont
Sugar (United States):
Deliveries and supply (raw basis): §
Production and receipts:
4733
Production
thous sh tons
10788
Deliveries total
do
10,714
For domestic consumption
do....
3503
Stocks raw and ref end of period
do
14924
Exports raw and refined
sh tons
4810
Imports raw and refined
thous sh tons
Prices, wholesale (New York):
1
Raw
$ per lb..
0.164
Refined (excl excise tax)
do
0228
174 690
Tea imports
thous lb
FATS, OILS, AND RELATED PRODUCTS
Baking or frying fats (incl. shortening):
Production
mil. lb.. 4,206.4
131.9
Stocks end of period @
.. . do ..
Salad or cooking oils:
Production
do
50756
Stocks end of period @
do .
1412
Margarine:
Production
do
25532
805
Stocks end of period @
do .
Price, wholesale (colored; mfr. to wholesaler or
large retailer; delivered)
$ per lb..
0.549
Animal and fish fats:
Tallow, edible:
Production (quantities rendered)
mil. lb..
904.8
7657
Consumption in end products
do
56.6
Stocks end of period fl .
do....
Tallow and grease (except wool), inedible:
Production (quantities rendered)
do.... 5,836.3
Consumption in end products
do ... 3,117.6
3904
Stocks end of period
fl
do
Vegetable oils and related products:
Coconut oil:
5956
Production refined
mil lb
7484
Consumption in end products
do . .
40.1
Stocks refined end of period fl .. ... do ...
979.8
Corn oil:
743.5
Production:1 Crude
do....
5894
Production Refined
do
Consumption in end products
do....
555.0
Stocks crude and ref end of period fl do....
65.2
Cottonseed oil:
12605
Production' Crude
do
Production: Refined
do.... 1,140.8
Consumption in end products
do....
618.2
Stocks crude and ref end of period U
do
1443
Exports (crude and refined)
.. .. do ..
6330
Price, wholesale (N.Y.)
$ per lb..
0.369
Soybean oil:
Production: Crude
mil lb 11 504 1
Production: Refined
do.... 9,110.1
86564
Consumption in end products
do
Stocks, crude and ref., end of period fl do.... 1,030.1
Exports (crude and refined)
do
23706
0.327
Price, wholesale (refined; N.Y.)
$ per lb..
TOBACCO
Leaf:
*1527
Production (crop estimate)
mil lb
Stocks, dealers' and manufacturers',
T
4974
end of period
mil. lb..
Exports, incl. scrap and stems
thous. lb.. 561,756
Imports, incl. scrap and stems
do.... 377,203
Manufactured:
Consumption (withdrawals):
Cigarettes (small):
Tax-exempt
. . millions..
93150
Taxable
do.... 613,830
Clears dartre) taxable
do .
3356
79,717
Exports, cigarettes
do....
See footnotes at end of tables.




r3

4 713
10 838
10 149
'2970
608029
4 127

116
814
"769
'3059
21008
302

176
965
941
2841
35730
304

158
933
879
2510
64641
398

70
968
907
2204
45114
397

60
975
900
1866
87919
349

96
955
'906
1548
40495
314

592
899
'831
1679
81229
310

928
1 127
744
998
'815
'704
2345 '2970
20650 123 950
510
272

758
754
697
3330
26370
387

487
232
743
1004
675
836
'3472
3195
55765 134 737
289
313

"2773
80412
255

0.306
0405
184 786

0.232
0315
18501

0.331
0422
15871

0.324
0452
16460

0.277
0393
14099

0.351
0442
11883

0.372
0413
11870

0.427
0560
14271

0.409
0550
12126

0.291
0.403
15,936

0.303
0432
12891

0.266
0383
18354

0.231
0.344
14,696

0.200
0315
19,220

4,177.8
1307

328.3
146.0

325.1
135.6

314.5
125.6

329.8
111.7

348.1
114.5

347.0
125.5

379.6
102.8

348.9
111.9

367.6
130.7

331.4
125.2

325.2
122.0

'354.5
'118.9

342.2
126.9

5 1672
1225

4218
1462

4487
1607

4337
148.3

4096
135.6

481 1
1579

4528
1375

4145
131.8

3944
142.7

4112
122.5

404 1
137.9

4095
131.6

'4745
'127.6

4237
1240

25928
742

1845
695

2005
625

2146
747

1921
783

1869
607

2132
661

2219
80.0

2184
71.4

2646
74.2

2355
62.2

2144
683

'2316
768

1964
663

0.603

0.599

0.599

0.599

0.599

0.637

0.637

0.624

0.624

0.624

0.637

0.637

0.637

0.637

1,042.7
7149
55.9

84.6
577
50.0

89.9
538
57.2

89.8
545
61.7

88.3
590
53.8

87.9
51 1
52.2

91.9
617
46.0

99.6
65.4
47.0

87.8
57.3
50.8

96.0
62.9
55.9

97.1
62.4
68.1

87.4
640
53.8

'100.4
699
'51.1

90.4
654
47.5

5,782.1
2,979.4
4130

504.7
247.4
3430

489.2
264.4
4171

459.7
240.6
4275

470.5
233.0
4557

431.9
235.3
4028

455.6
245.7
4305

512.2
268.6
4395

449.3
236.1
4121

495.9
239.6
4130

488.5
258.8
4360

440.7
245.8
4369

'474.6
'257.4
'4436

469.8
256.4
4357

6447
6935
49.6
889.3

475
558
384
102.8

583
581
377
39.3

476
56.3
41.9
62.8

464
56.2
32.7
58.7

524
510
47.6
67.7

572
625
350
56.5

716
. 66.9
36.5
126.7

630
63.1
36.6
90.9

625
58.3
49.6
116.0

655
677
474
110.1

660
65.0
50.6
139.2

618
'71.1
'44.7
79.1

535
677
339
39.8

810.6
6382
595.3
76.3

64.3
464
43.1
629

68.3
466
46.5
654

65.1
529
49.6
59.9

66.2
452
44.5
71.6

69.9
512
44.7
62.3

76.2
563
52.8
65.8

80.6
639
52.8
72.1

68.0
643
52.3
79.3

59.0
597
61.5
76.3

658
619
56.9
72.4

63.6
656
52.1
80.3

76.2
612
'56.6
'77.0

69.6
597
43.3
82.4

1 447 1
1 370.2
698.3
1701
7854
0.261

1198
113.9
58.6
1887
710
0.215

1255
1196
68.2
1659
1050
0.210

1168
1100
65.1
1671
314
0.223

1042
115.1
57.9
1446
70.3
0.263

1049
107.5
65.5
1398
776
0.273

93 1
94.8
55.6
1219
893
0.263

1164
94.1
57.5
1226
53.7
0.248

130.5
119.8
51.8
152.9
66.6
0.330

1223
125.1
49.5
170.1
47.1
0.338

1317
131.3
38.0
1836
770
0.334

1189
99.6
44.5
200 1
29.3
0.320

'1154
'102.1
47.1
'2024
66.7
0.335

988
104.8
44.7
168 1
821
0.354

0.350

10106
8878 '9913
951 1
741.6
706.3 '833.9
742.7
6987
6808 '7751
7066
1,900.1 1,976.3 2,016.7 2,118.8
1160
1138
2028
761
0.282
0.265
0.281
0.285

0.265

r3

12 097 2
8,982.2
85852
1,737.8
23146
0.289

ra

r

r

r

9016
9937 10098
9138
890 1 10802 10776 10243
9278
763.1
687.1
699.0
760.7
764.5
784.1
760.5
712.8
720.3
6826
7388
6716
6936
6837
6712
7545
737 1
7191
1,183.7 1 144.8 1 225.9 1,305.1 1,263.0 1,210.1 1,373.9 1,677.3 1,737.8
1205
2696
3273
1946
1097
1757
1712
1125
847
0.302
0.309
0.319
0.262
0.320
0.286
0.254
0.256
0.318

l 779

4850
588 970
365,622

54619
36,353

53,231
26,995

4284
42,998
40,909

40,877
25,681

25780
25,073

4548
32,323
27,144

47,610
32,793

64,420
26,059

4850
66,563
22,342

44,809
33,973

32,831
44,274

4624
53728
31,753

49,414
24,274

94256
620,565
3290
78.256

6729
52,830
237
6.485

6161
50,496
281
5.409

6644
53,689
325
6.690

6 193
49,612
228
4.860

6809
52145
275
2.548

8554
54,839
335
7.770

9630
62,133
335
8.171

6833
49,248
251
6.116

8204
43,762
238
6,781

9868 '9248
53,048 '51,474
258
211
6.958
8,289

7564
55,752
262
8.534

6.046

0.163
0266

0.637

SURVEY OF CURRENT BUSINESS

June 1981
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
hi the 1977 edition of BUSINESS STATISTICS

1979

1980

Annual

S-27

1980
Apr.

May

June

July

1981

Aug.

Sept.

Oct.

Nov.

Dec.

Jan.

Feb.

Mar.

Apr.

May

LEATHER AND PRODUCTS
HIDES AND SKINS
Exports:
Value, total #
Calf and kid skins
Cattle hides

thous.$..
thous skins
thous hides .

Imports:
Value total #
Sheep and lamb skins
Goat and kid skins

thous $
thous pieces
do

Price, producer:
Calfskins packer heavy 9 1/2-15 Ib
$ per Ib
Hides, native steer heavy
index, 1967—100..

991 707
2321
23731

693 678
2495
19568

58999
1811671

61787

49921

45904

52 134

48820

53048

50461

58493

57458

64390

64,187

56901

1914

1650

1509

1703

1510

1608

1542

1711

1536

1749

1737

1565

138800
15529
2444

88200
9*027

9800
1378

9 100
1466

7500
1027

6200

6400

5 100

6500
*492

5400

330
6

6800

7600

8200
1,289

7300

g

34

926
68

8700
1341

1687
614.4

1098
3859

0860
320.5

0860
2836

0860
3210

1 100
3690

376.2

341.8

356.1

401.5

519

6

147

15

122

I

260

640
30

281

325

138

137

o

286
29

1 100
4480

1 100
361.4

1 100
4129

1 100
455.9

666

202

248
10

1 100
420.6

242

264

546
67

263

227

132

385.8

LEATHER
Exports:
Upper and lining leather

.

thous so ft

187 665

192 597

13024

12652

15483

15481

15215

15818

19051

20880

13641

19633

14418

19717

17678

Price, producer:
Sole bends light

index 1967—100

3296

2814

2704

2632

2639

2826

3128

2553

2495

2689

2832

317 1

3027

3085

317 1

398 480

394 596

33517

34832

33 137

27932

31474

33335

36976

30285

29454

31253

30 517

33,993

305 172
72779
20529
3651

301069
68658
24869
4 125

25777
5828
1912

24661
6183
2293

21378
4733
1821

23858
5363
2253

25 188
5862
2285

28239
6421
2316

23030
5 105
2 150

23314
4,050
2090

23052 '22 995
5,829 '5,281
2372 '2241
'348
342

25582
5,961
2450
'328

7581

9781

414
780

25949
6533
2350

804

1,180

192.9

211.7

211.2

3185

LEATHER MANUFACTURES
Footwear:
Production total
thous pairs
Shoes, sandals, and play shoes, except athletic
thous pairs
Slippers
do....
Athletic .
...
do
Other footwear
do....
Exports

do....

373
742

337
730

309
704

309
893

375
875

212.7

213.5

381
952

375
908

100.0

1006

102.0

102.5

103.0

102.7

215.7

216.7

215.7
1000

2163
1005

218.3
1018

214.4
1028

214.5
1028

214.5
1030

2903

2480

2,329

2,523

2,542

2,818

2354

1930

1829

2,003

1,963

2,204

Prices, producer: *
Men's leather upper, dress and casual
index, 12/80—100..
Women's leather upper
Women's plastic upper

index, 1967 — 100..
index 12/80—100

211.2

2112

212.7

351
877

r

710

913

LUMBER AND PRODUCTS
LUMBER—ALL TYPES #
National Forest Products Association:
Production, total
Hardwoods
.
Softwoods

I

Shipments total
Hardwoods
Softwoods

do
do
do....

'37061
7317
29744
136 514
6942
29572

Stocks (gross) mill end of period total
Hardwoods
Softwoods

do
do
do....

5342
1 171
4171

5805
1*807
3998

5769
1371
4398

do....
do....

1447
11,513

1655
9,859

153

119

117

127

655

730

830

876

804

863

867

892

799

756

848

966

980

8388
'529

7 176

539

563

614

559

581

682

670

572

479

631

547

628

8427
8412

7 165
7206

35
7
28

551
614
579
912
51
9
42

515
590
547
955
49
9
39

649

566
638
661
917
40
11
30

617
456
569
580

463
447
492
472

587
493
552
541

Exports, total sawmill products
Imports, total sawmill products

mil. bd. ft..
do
do....

3l 885
'7220
24665
»31 422
'6584
24838

2257

600

2307

568

2486

543

2479

494

2783

2818

570

527

549

550

500

520

579

614

1739

1943

1985

2213

2291

2343

2512

2530

2454

2716

2708

2851

2494

2350

2 424

2379

2752

1781

2012
5 568
1443
4 125

2061
5534
1527
4007

2035

2212

2214

2340

1952

1858

1923

1,822

2,160

5 570
1613
3957

5659
1701
3958

5776
1741
4035

5832
1783
4049

5826
1799
4027

5805
1807
3998

5883
1819
4064

6065
1843
4,222

6098
1872
4,226

1657

562

178

500

170

469

419

504

134

494

118

511

123

542

492

501

557

592

SOFTWOODS
Douglas fir:
Orders new . .
Orders unfilled end of period

mil bd ft
do

Production
Shipments
.
Stocks (gross) mill end of period

do
do
do

Exports total sawmill products
Sawed timber
Boards planks scantlings $tc

do
do....
do

Price, wholesale:
Dimension, construction, dried, 2" x 4", R.L.
$ per M bd. ft..
Southern pine:
Orders, new
mil. bd ft..
Orders unfilled end of period
do
Production
Shipments

...

.

do....
do

Stocks (gross), mill and concentration yards, end
of period.
.
mil bd ft

515
592
607
881
49
10
39

557
685
647
940

568
558
570
905
40
5
35

499
520
548
877
37
8
29

877
540
117
422

565
449
516
991
58
14
44

277.24

22342

18483

18556

237 01

23897

24837

23298

22431

21486

217 12

*7950

6559

'7938
*7932

6758
6663

441
486
425
456

571
512
493
545

552
503
553
561

580
512
566
571

558
470
614
600

510
434
575
546

678
492
626
620

509
473
519
528

439
419
515
493

918
520
156
363

523

499

419

508
525
620
8%
66
13
53

563
540
511
910
42
6
36

522
614
622
902
42
13
29

600
655
649
961
43
9
35

1 175

1270

1213

1208

1257

1248

1270

1259

1279

1290

280,243

17882

29,384

22,228

1222
24274

1,251

209,793

1273
23,153

1221

thous. bd. ft..

19,376

20,072

16,731

20,878

14,763

11,781

26,059

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.
1967=100..

3662

3372

3344

3310

3296

3330

3316

324.3

316.1

316.1

320.0

301.4

324.6

319.3

319.3

319.3

323.6

325.8

325.8

330.2

330.2

330.2

Exports total sawmill products

See footnotes at end of tables.




607
629
621
969
51
13
38

19,198

S-28

SURVEY OF CURRENT BUSINESS
1979

Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS

June 1981

1980

1980
Apr.

Annual

May

June

July

Aug.

1981
Sept.

Oct.

Nov.

Dec.

Jan.

Feb.

Mar.

Apr.

May

LUMBER AND PRODUCTS—Continued
SOFTWOODS—Continued
Western pine:
Orders new
mil. bd. ft..
Orders, unfilled, end of period
do....
Production
do
Shipments
do .
Stocks (gross) mill, end of period
do...
Price, wholesale, Ponderosa, boards, No. 3,
1" x 12" R L (6* and over)
$ per M bd ft
HARDWOOD FLOORING
Oak:
Orders, new
mil. bd. ft..
Orders, unfilled, end of period
do....
Production
do
Shipments
do....
Stocks (cross), mill, end of period
do....

9,630
403
9780
9696
1379

7,768
327
7633
7844
1 168

531
346
528
536
1366

647
380
545
613
1298

627
376
568
631
1235

671
421
573
626
1,182

631
393
650
659
1 173

31726

28755

24234

21548

25206

31005

32735

30406

29325

30622

34083

1.9

3.5

3.5

3.7

3.7

4.0

2.9

2.0

1.5

(3)
78.0
12.4

5.3
10.5

5.5
10.0

6.6
11.1

7.3
9.6

7.0
9.4

6.4
9.8

7.2
9.4

93.4
7.0
99.8
96.7
5.4

(3)

738
445
734
740
1 161

810
447
750
756
1 167

639
416
646
668
1 139

519
327
637
608
1 168

688
419
659
596
1231

605
415
631
609
1,253

751
443
740
723
1,270

633
426
678
650
1,298

1.9

1.5

1.9

2.5

3.7

6.1
10.0

5.8
12.4

6.4
10.9

6.7
9.3

8.0
9.7

9.0
9.3

METALS AND MANUFACTURES
IRON AND STEEL
Exports:
Steel mill products
thous. sh. tons..
Scrap
do
Pig iron
do....
Imports:
Steel mill products
.
do.
Scrap
do....
Pig iron
do
Iron and Steel Scrap
Production .
thous. sh tons..
Receipts net
do
Consumption
.
...
. . ..
do ...
Stocks, end of period
do....
Prices, steel scrap, No. 1 heavy melting:
Composite .
$ per Ig. ton..
Pittsburgh district
do....
Ore
Iron ore (operations in all U.S. dktricts):
Mine production
thous. Ig tons.
Shipments from mines
do
Imports
do....
U.S. and foreign ores and ore agglomerates:
Receipts at iron and steel plants
do....
Consumption at iron and steel plants .
do
Exports
do....
Stocks, total, end of period
do....
At mines
do
At furnace yards
do
At U S. docks
do
Manganese (mn. content), general imports
do....
Pig Iron and Iron Products
Pig iron:
Production (including production of ferroalloys)
thous sh tons..
Consumption
do
Stocks, end of period
do....
Price, basic furnace
$ per sh. ton..
Castings, gray and ductile iron:
Orders, unfilled, for sale, end of period
thous. sh. tons..
Shipments, total
do
For sale
do
Castings, malleable iron:
Orders, unfilled, for sale, end of period
thous. sh. tons..
Shipments, total
do
For sale
do
Steel, Raw and Semifinished
Steel (raw):
Production
thous sh tons
Rate of capability utilization
percent..
Steel castings:
Orders, unfilled, for sale, end of period
thous. sh. tons..
Shipments total
do
For sale total
do
See footnotes at end of tables.




2,818
11094
105

4,101
11 168
73

321
829
2

338
1207
19

418
1070
36

398
870
1

449
821
4

401
822
1

366
967
2

316
525
3

324
763
(2)

256
'578
2

213
683
1

260
442
2

291
694
2

17518
760
476

15495
557
399

1250
49
56

1615
40
22

1203
38
23

1,079
26
42

1374
26
26

1064
54
12

1 142
40
32

1 181
35
43

1536
58
72

1281
38
18

1,234
41
10

1 142
53
5

1,761
52
36

1
52,219
1

47 048
98901
8,724

42,275
MO 689
*83 846
8,037

4,050
3902
7893
7,866

4,006
3543
7,491
8,967

2868
2820
5803
7,839

2,583
2324
5009
7,684

2,856
2574
5520
7,653

3,247
3066
6328
7,691

3691
3770
7402
7,771

3,584
3609
7410
7,607

3820
3961
7386
8,037

r
3,774
r
3769
r
7486
r

7,939

3,753
3607
7,426
7,846

9807
101.50

92.17
96.17

98.96
103.50

83.11
87.00

71.21
69.50

73.77
73.50

83.61
88.50

9238
99.00

96.65
104.50

9821
105.50

101.86
106.00

96.34
103.50

94.28
101.00

9874
109.00

101.40
112.00

*85
716
X
86 218
33776

69325
68639
25,058

6054
6631
2138

6848
9328
2,714

6415
7999
2638

5,326
7021
2,712

4736
6052
2,029

4368
6211
2062

5024
6638
2499

4686
6587
2,348

5913
6009
1809

5964
2800
1 292

6,052
1545
1,075

6751
2035
1 165

1794

115,892
115 014
4,455
55,753
11368
38969
5416
850

87,187
89398
5,073
56,066
14265
35706
6095
795

7,569
8891
644
49,601
26833
20237
2531
66

10,894
7975
653
50,676
24355
23100
3221
97

9,956
5768
551
53,522
22771
27242
3509
68

9,467
5456
284
56,784
21073
31 176
4535
54

7,671
5644
650
57,545
19757
32953
4835
67

8,054
5953
484
57,999
17914
35009
5076
60

8,498
7203
552
57,653
16289
36 131
5233
38

8,323
7895
309
56,621
14374
36499
5748
57

7,625
8326
563
56,066
14265
35706
6095
69

4,162
8667
33
54,536
17477
31 088
5971
22

2,686
8126
2
53,154
21990
25554
5610
76

3,794
9293
'63
50,786
26736
19972
4078
55

1

S6 975
87458
881
203.00

68,722
69 190
925
203.00

6,677
6717
882
203.00

5,906
5926
889
203.00

4,664
4697
'900
203.00

4,222
4270
870
203.00

4,360
4392
888
203.00

4,596
4671
877
203.00

5,621
5688
863
203.00

6,132
6 186
859
203.00

6,489
6560
884
203.00

6,603
6647
891
203.00

6,108
6 189
904
203.00

7,193

6,755

203.00

203.00

974
15434
7981

938
11587
6321

923
1082
565

839
917
481

787
862
491

793
742
445

817
833
491

851
940
534

891
1 102
605

932
946
529

938
873
491

942
1034
562

r
952
1011
r
548

959
1 118
610

54
715
376

41
461
217

35
44
20

31
38
19

31
37
19

28
28
12

30
30
15

35
34
15

39
41
18

44
36
16

41
37
17

46
37
17

136 341
87.8

111 118
723

10658
83.0

9226
696

7501
58.4

6796
53.1

7019
54.8

7767
627

9442
72.2

10057
795

10180
778

1,039
2039
1.848

606
1851
1.681

904
169
153

819
170
153

735
158
145

688
117
107

660
122
112

621
145
132

603
141
128

609
133
121

606
148
135

1

r

45
40
18

43
43
20

10590
799

10028
837

11744
886

668
158
144

'586
163
'147

551
171
153

625

70

11242
877

9613
105.50

Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS

S-29

SURVEY OF CURRENT BUSINESS

June 1981
1979

Apr.

Annual

1981

1980

1980
May

June

July

Aug.

Sept.

Oct.

Nov.

Dec.

Jan.

Feb.

Mar.

Apr.

May

METALS AND MANUFACTURES—Continued
Steel Mill Products
Steel products, net shipments:
Total (all grades)
thous sh. tons..
By product:
Semifinished products
do ..
Structural shapes (heavy), steel piling
do—
Plates
do . .
Rails and accessories
do....
Bars and tool steel, total
do—
Bars: Hot rolled (incl. light shapes)
do—
Bars: Reinforcing
do—
Bars' Cold finished
. .
do
Pipe and tubing .
.
...
do
Wire and wire products
,.. do...
Tin mill products
do
Sheets and strip (incl. electrical), total do—
Sheets' Hot rolled
do
Sheets: Cold rolled
do ...
By market (quarterly):
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
Steel mill shapes and forms, inventories, end of
period— total for the specified sectors:
mil. sh. tonsProducing mills, inventory, end of period:
Steel in process
mil. sh. tons..
Finished steel
do
Service centers (warehouses), inventory, end of
period
mil. sh. tonsConsumers (manufacturers only):
Inventory, end of period
do—
Receipts during period
do
Consumption during period
do—
NONFERROUS METALS AND PRODUCTS
Aluminum:
Production, primary (dom. and foreign ores)
thous. sh. tonsRecovery from scrap (aluminum content)
doImports (general):
Metal and alloys crude
do
Plates, sheets, bars, etc
do—
Exports:
Metal and alloys, crude
do..
Plates sheets bars etc
do
Price, primary ingot, 99.5% minimum .... $ per lb..
Aluminum products:
Shipments:
Ingot and mill prod, (net ship.)
mil lb..
Mill products,
total
do..
Sheet and plate
do
Castings
..
do
Inventories, total (ingot, mill products, and
scrap), end of period
mil. lb..
Copper:
Production:
Mine, recoverable copper
thous. met. tonsRefinery primary
do
From doirestic ores
do
From foreign ores
do
Secondary, recovered
as refined . .
.
.
do
Imports (general):
Refined, unrefined,
scrap (copper cont.)
do....
Refined
do ..
Exports:
Refined and scrap
do.. .
Refined
do
Consumption, refined
(by mills etc )
thous sh tons
Stocks, refined, end of period
do—
Price, electrolytic (wirebars), dom., delivered
$ per lb..
Copper-base mill and foundry products, shipments
(quarterly total):
Brass mill products
mil lb
Copper wire mill products (copper cont.)
do....
Brass and bronze foundry products
do—
Lead:
Production:
Mine recoverable lead
thous met tons
Recovered from scrap (lead cont.)
do—
Imports (general) ore (lead cont ) metal
do
Consumption, total
do—
See footnotes at end of tables.




100,262

83,853

7,296

6,440

5,848

5,354

5,745

6,682

7,458

7,038

7,591

7,616

7,375

8,422

8,108

5,496
'5,596
9,035
2,026
17,601
9,958
5,303
2,245
8,242
2,449
6,310
43,507
15,995
17,284

5,342
5,207
8,080
1,797
13,258
6,911
4,683
1,585
9,097
1,768
5,709
33,595
12,116
13,313

442
437
721
191
1,191
645
387
152
756
167
466
2,925
1,078
1,165

431
443
639
173
1,053
555
357
134
779
135
464
2,323
793
945

343
355
592
151
982
500
359
117
755
129
411
2,139
775
827

351
355
595
98
832
386
347
94
672
118
416
1,915
681
740

386
942
587
112
889
433
350
101
689
124
435
2,168
754
848

379
447
652
138
1,011
517
371
117
739
136
426
2,756
988
1,104

496
489
702
124
1,132
583
415
126
789
146
432
3,149
1,083
1,282

488
432
627
125
1,036
571
340
120
767
129
425
3,010
1,111
1,179

543
426
661
140
1,037
564
348
119
782
148
464
3,390
1,281
1,325

441
457
667
145
1,079
610
320
144
793
150
474
3,410
1,209
1,368

477
426
720
158
1,146
659
342
140
776
153
473
3,046
1,077
1,202

606
548
731
170
1,334
764
407
156
945
185
431
3,470
1,267
1,344

531
472
678
161
1,292
740
395
150
949
161
431
3,434
1,252
1,354

18,263
10,058
4,021
18,624
4,127
6,027
6,770
'32,372

16,174
8,787
3,362
12,156
3,178
4,566
5,549
30,082

37.1

30.9

'35.5

'36.1

'35.2

'33.9

33.3

'31.5

'30.0

'30.6

'30.9

30.7

31.4

11.5
7.6

9.6
6.9

11.5
7.6

12.1
7.4

12.1
7.2

11.9
6.9

11.4
6.8

10.3
6.6

9.6
6.7

9.6
6.9

9.6
6.9

9.5
7.0

9.5
7.1

3,432
2,006
727
2,440
582
882
1,192
6,518

3,592
2,075
752
2,580
855
1 170
1,279
7,281
r

4693
2,237
945
3,473
702
1003
1,325
7709

4,696
2,356
958
3,591
753
1,261
1,470
8,326

a

l,644
2
862
"299
2
1,253
»224
a
426
8
468
a
2,931

9.8
7.1

7.1

7.3

'6.5

'7.1

'7.0

'6.7

'7.2

'7.1

'6.6

^.0

'7.3

6.9

7.1

10.2
80.1
80.3

6.6
63.0
66.6

9.3
5.7
5.9

8.9
5.1
5.5

8.2
4.5
5.2

7.7
4.1
4.6

7.3
4.4
4.8

6.9
5.1
5.5

6.5
5.9
6.3

6.4
5.2
5.3

6.6
5.4
5.2

6.7
6.2
6.1

7.0
6.4
6.1

5,023
1,399

5,130
1,377

421
113

438
111

425
106

427
102

426
113

419
124

437
128

427
122

439
118

445
124

404
127

570.6
'201.0

567.7
71.3

45.4
5.6

42.1
6.0

51.7
6.8

40.3
4.4

40.7
4.4

43.0
3.7

41.4
7.2

29.9
4.8

78.3
5.2

55.8
5.8

55.7
8.9

75.6
7.5

50.2
10.7

200.6
265.7
0.5940

715.0
315.3
0.6957

52.3
23.2
0.6800

52.3
24.9
0.6800

61.3
27.5
0.6800

51.3
24.6
0.6800

97.6
42.5
0.6800

98.9
24.5
0.6933

70.1
34.1
0.7546

55.0
24.2
0.7600

46.1
24.6
0.7600

59.4
30.1
0.7600

23.2
27.1
0.7600

32.9
32.6
0.7600

48.6
26.5
0.7600

14,537
11,241
6,318
1,999

14,083
10,443
5,816
1,581

1,180
926
489
143

1,135
884
498
125

1,093
788
497
107

1,104
800
462
91

1,177
820
468
111

1,196
858
483
123

1,232
911
494
138

1,018
798
435
127

1,206
868
492
126

1,090
883
511
143

1,072
859
486
133

1,295
971
562
157

5,125

5,060

4,910

4,950

5,021

5,072

5,026

4,968

4,942

5,058

5,060

5,221

5,323

5,366

1,443.6
1,515.4
1,411.5
103.9

1,175.3
1,225.8
1,121.6
1
104.1

127.8
145.3
131.3
14.0

129.2
162.3
151.2
11.2

120.1
155.1
147.6
7.5

48.3
25.8

76.0
64.2
58.7
5.5

102.0
90.2
82.7
7.5

116.8
121.1
109.6
11.5

119.4
125.0
113.5
12.5

114.0
125.0
110.3
14.6

121.4

(33)

575.6

573.0

53.0

55.1

52.7

26.6

33.6

33.4

60.8

45.1

36.9

38.9

52.8

341.3
217.9

520.3
431.8

38.6
32.3

50.7
37.5

31.7
27.5

26.8
24.7

38.6
34.8

42.8
39.1

64.2
59.2

55.8
46.0

44.3
36.8

41.7
24.7

39.0
29.4

29.0
21.8

40.2
28.1

308.8
80.5

330.1
17.4

25.5
1.5

34.0
1.5

30.4
2.0

39.2
1.9

39.2
0.9

20.8
0.4

25.3
0.5

25.2
1.0

22.9
3.4

36.2
2.9

32.1
2.5

38.7
5.8

20.2
1.2

2,470
288

2,083
365

0.9333

1.0242

2f981
3,048
593

2,405
2,834
483

525.6
801.4
59.6
1.358.3

551.0
659.1
52.1
1.048.2

49.5
44.8

()

34.1
22.7

(33)

()

0.9348

0.9271

1.0356

1.0071

587
681
120

49.0
59.1
3.2
83.8

50.0
51.2
4.4
84.1

46.3
57.1
7.8
77.2

()

375
392

530
480

0.9485

(33)

0.9886

500
365

0.9947

0.9698

532
694
108

43,5
46.0
2.0
68.2

41.7
52.2
4.2
79.5

39.3
56.0
6.5
95.6

0.8913

6.9
6.6
6.7

527
331

0.8857

0.8607

42.3
46.5
3.5
98.9

40.2
43.9
6.0
90.7

0.8738

0.8803

11.1

3.3

570
672
114

48.5
50.2
4.6
103.0

39.6
58.1
3.7
92.5

41.2
54.9
2.6
92.0

0.7600

0.8580

S-30

SURVEY OF CURRENT BUSINESS

Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
hi the 1977 edition of BUSINESS STATISTICS

1979

1980

1980
Apr.

Annual

June 1981

May

June

1981

Aug.

July

Oct.

Sept.

Nov.

Jan.

Dec.

Feb.

Mar.

Apr.

May

METALS AND MANUFACTURES—Continued
NONFERROUS METALS AND
PRODUCTS—Continued
Lead—Continued
Stocks, end of period:
Producers', ore, base bullion, and in process
(lead content), ABMS
thous. met. tons..
Refiners' (primary), refined and antimonial
(lead content)
thous. met. tons..
Consumers' (lead content) fl .
.
do
Scrap (lead-base, purchased), all smelters
(gross weight)
thous met tons
Price, common grade delivered
$ per Ib .
Tin:
Imports (for consumption): *
Ore (tin content)
metric tons
Metal, unwrought, unalloyed
do....
Recovery from scrap total (tin cont )
do
As metal
do....
Consumption total
do
Primary
do.. .

123.6

137.3

142.9

140.9

138.3

138.9

142.4

136.9

135.3

126.5

132.0

54.8

958

75.6
1078

81.7
1004

77.0
962

61.0
873

49.1
845

31.5
868

26.1
907

41.6
944

54.8
958

77.9
918

81.3
879

74 1
0.5264

412
04246

34 1
04402

357
03600

392
03419

385
03560

355
04096

382
04226

389
04500

398
04381

421
03897

r
435
03379

4529
48,354
21
493
8
1767
5
62500
49000

842
45,983
15975
1845
5
57 000
43900

59
3877
1305
150
5300
4350

3,095
1220
155
4 150
3,350

o

147
3,688
1370
155
4300
3,400

26
3,738
1 175
120
4050
3,250

3,805
1265
150
3750
3000

4,790
1 195
145
4300
3500

3,327

3418
4,238
7.5389

4293
5,504
8.4600

322
5,443
8.7666

3,131
1015
125
3700
3000
426
6,544
8.4316

2,736
1230
175
3900
3050

do .
do....
$ per lb..

0
0
4202
4364
1 175 1055
155
160
4 100
4600
3250
3700
479
566
7263
6592
8.6850 8.5346

498
6,051
8.3922

227
5,180
8.6898

180
5,208
8.4000

151
5,086
7.9779

547
5,504
7.5956

415
5,968
7.4876

233
5,745
7.1349

thous. met. tons..

267.3

313.1

26.9

255

27.1

24.6

25.2

24.1

28.2

24.0

24.5

24.6

24.8

do . .
do....

225.0
527.1

1138
329.0

102
29.5

94
29.1

94
21.2

163
20.8

156
30.1

86
32.3

21
38.3

85
45.1

136
52.0

194
36.4

60
51.7

do
do....

797
314.0

676
236.1

62
193

55
191

58
18.5

45
18.0

53
18.3

46
18.4

38
19.4

63
193

64
19.1

64
191

57
192

29.0
610

25.8
55.5
01

18.8
46.8

24.2
58.2
01

26.0
66.7
(2)

32.1
563
0.3573

27.3
579
0.3663

Consumption (recoverable zinc content):
Ores
.
Scrap all types

Slab zinc: @
Production, total $
thous. met. tonsConsumption fabricators
do..
Exports
do
Stocks, end of period:
Producers', at smelter (ABMS)
do....
Consumers'
. ..
do
Price, Prime Western
$ per Ib..
MACHINERY AND EQUIPMENT
Heating, combustion, atmosphere equipment, new
orders (domestic) net qtrly $ . . .
mil $
Electric processing heating equipment
do....
Fuel-fired processing heating equip
do

Industrial trucks (electric), shipments:
Hand (motorized)
number
Rider-type
do....
Industrial trucks and tractors (internal combustion
engines), shipments
number.
Industrial supplies, machinery and equipment:
New orders index, seas, adjusted
1977—100..
Industrial suppliers distribution: t
Sales index, seas, adjusted
1977—100Price index, not seas. adj. (tools, material
handling equip., valves, fittings, abrasives,
fasteners, metal products, etc.)
1977=100Fluid power products shipments indexes: *
Hydraulic products, seas, adj
1972—100..
Pneumatic products seas adj
do
Machine tools:
Metal cutting type tools:
Orders, new (net), total
mil. $..
Domestic . ..
do....
Shipments total
do
Domestic
do—
Order backlog end of period
do.
Metal forming type tools:
Orders, new (net), total
do....
Domestic
do
Shipments, total
do—
Domestic
. .
. do.
Order backlog, end of period
do—
Tractors used in construction, shipments, qtrly:
Tracklaying, total
units..
mil. $..
Wheel (contractors* off-highway)
unitsmil. $..
Tractor shovel loaders (integral units only),
wheel and tracklaying types
unitsmil $..
Tractors, wheel, farm, nonfarm (ex. garden and
construction types), ship., qtrly
unitsmil $.
ELECTRICAL EQUIPMENT
Batteries (auto.-type replacement), ship
Radio sets, production, total market
Television sets (incl. combination models),
production, total market
See footnotes at end of tables.

thous..
thous..
thous..

105.2

46.1
1232

5

5
525.7
10006
03

5

325.3
817.0
03

29.1
74 1
()

55.8
591
0.3730

18.7
588
0.3743

28.5
665
0.3801

2

(2)

33.5
668
03750

38.9
609
0.3644

3726
105.5
1604

Material handling equipment (industrial):
Orders (new), index, seas, adj
1967—100..




1

135.3

Exports incl reexports (metal)
Stocks, pig (industrial), end of period
Price, Straits quality (delivered)
Zinc:
Mine prod., recoverable zinc
Imports (general):
Ores (zinc content)
Metal (slab, blocks)

1

o

(2)

38.2
575
0.3550

o

28.1
74.6
(2)

o

27.1
723

30.2
705

(2)

(2)

o

r

30.3
745
00

122.7

110.5

371
03042 '0 3506 '0 3752

o

o

3,985

4400
3,600

919
r

7.0026 '6.8358

28.5
73.5
(2)

108
48.4

39
52.5

31.3

30.9

21.3
586
0.3726

18.7
578
0.3858

18.7
588
0.4059

16.7
57 1
0.4119

17.0
567
0.4125

19.0

16.0

15.6

0.4130

04256

6 4520

375.5

363.4

3835

336.3

355.4

331.5

453.4

371.1

340.6

3848

3837

362.0

4410

24 183
28,654

20495
24,110

1860
2330

1910
2178

1502
2251

1511
1577

1396
1647

1913
1947

1624
1839

1512
1658

1521
1712

1 129
1490

1443
1527

1893
1693

1505
1727

55782

39448

4130

3353

3875

2073

1972

2590

2878

2636

2562

2687

2667

2920

2817

132.1

109.8

116.1

108.2

102.6

102.6

100.5

100.2

103.3

109.2

112.0

111.6

113.8

117.8

118.0

129.6

134.5

140.7

138.7

132.2

132.2

134.2

131.4

135.7

132.7

128.1

1389

135.6

138.9

145.6

117.4

131.2

129.5

130.6

132.0

132.9

133.2

133.9

134.6

135.3

136.3

137.8

139.4

140.8

142.6

272
235

272
234

298
237

274
232

259
218

284
236

244
218

246
225

253
251

240
233

255
259

245
248

262
245

260
253

278
255

4,495.10
3,865.80
293005
2,605.50
45457

3,884.75
3,495 50
3 680 80
3,206.00
47497

1,047.60
91990
946.50
85980
618.8

776.95
66495
1 010 95
87855
384.8

19,812
1,322.2
5,146
417.1

16,460
1,272.9
4,786
387.5

4,518
340.4
1441
114.5

3,824
293.0
1265
101.1

3288
283.0
952
73.6

55,314
1,758.1

45,496
1,696.2

11 102
465.1

9340
358.2

9004
337.6

201,453
3 424.2

147,385
3 113.7

38,475
785.5

27,750
5805

32,306
8797

53,746
40,029

50,063
28,104

16.616

17,508

354.30 373.60 414.20 267.60 165.05 295.65 286.55 275.00 245.00
32510 35005 37915 25065 14895 259.45 263.05 253.95 207.25
25885 28365 38285 24805 24465 33775 35215 31865 37280
22405 24070 337.75 211.50 223.50 292.80 295.10 271.45 314.50
49676 50576 50890 5 1086 50290 49869 49213 48776 47497

3,014
1,536
1.156

60.45
4620
9100
8295
585.7

2,765
2,317

1.265

43.00
3320
9275
7905
535.9

3,049
3

2,463

3

1.785

29.2

395
19.4
200

849
18.9
373

57.60
5035
8420
7325
616.3

6.5806

01

(2)

419.4

6

03641

36.95
3045
7890
6770
493.9

3,525
2,607

1.174

79.15
7245
7345
6610
492.7

59.40
5130
6625
5360
487.0

4,564

5,741

2,365

3

1.301

3

3,792

1.980

43.45
3740
8765
7240
448.5

6,249
2,540

1.668

54.05
44 15
8150
6945
421.1

5,361
2,931
1.684

54.15
4405
90.50
7795
384.8

5,520
2,149

3

3

1.765

206.55 212.80
18630 179.90
30870 33530
270.70 279.75
46476 45250
74.45
6845
8025
6730
379.0

270
244

293.85 P230.00
'249.05 "192
25
'373 85 P356 55
'311.80 PP290.10
'4 443 8 4 311 9

64.45 '57.45
5690 '5290
86.85 '103.25
7265 '7520
356.6 '310.8

"77.60

P
5850
P

93.60
P7340
P
294.8

4398
391.9

36683
9380
4,820
2,243

1.560

3,548
1,986

1.518

3,331
'S2,030
3

1.895

3,460
p

l,905

1.376

P

2,405

1.390

SURVEY OF CURRENT BUSINESS

June 1981
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS

1979

1980

Annual

S-31

1980
Apr.

May

June

July

Aug.

1981

Sept.

Oct.

Nov.

Dec.

Jan.

Feb.

Mar.

Apr.

May

METALS AND MANUFACTURES—Continued
ELECTRICAL EQUIPMENT— Continued
Household major appliances (electrical), factory
shipments (domestic and export) #
thous..
Air conditioners (room)
do ..
Dishwashers
do
Disposers (food waste)
do .
Ranges
do
Refrigerators
.
do
Freezers
do....
\Vashers
do
Dryers (incl. gas)
do....
Vacuum cleaners (qtrly.)
do....
GAS EQUIPMENT (RESIDENTIAL)

33,162
3749
3488
3317
3000
5701
1858
4965
3551
8,674

30,259
3204
2 738
2960
2530
5124
1681
4550
3 177
7,439

2,595
416
232
248
211
409
128
374
241

2,238
344
168
164
199
396
151
317
197

2422
316
189
194
192
453
192
340
196
1939

2711
566
184
199
189
477
182
345
227

2,391
94
212
229
191
464
180
397
257

2,478
66
261
234
206
476
146
401
285
1,948

2,877
90
297
343
257
519
123
468
333

2234
125
204
256
208
371
74
331
284

2,131
203
198
223
185
295
89
302
238
1,370

2,566
226
242
280
218
408
91
408
297

2531
370
205
274
198
364
122
365
244

2975
623
228
317
197
424
142
408
260
2,119

2,982
603
240
309
220
440
141
368
245

Furnaces, gravity and forced-air, shipments.... thous..
Ranges, total, sales
do....
Water heaters (storage), automatic, sales @
do....

1,863
1799
2,887

1,446
1538
2,818

87
122
257

71
123
210

83
132
215

94
93
199

123
119
208

147
138
237

174
143
271

144
121
218

131
141
246

136
114
260

123
118
242

r
!28
r

!43
286

118
129
287

425
80
491 1

380
57
4979

297
65
5087

538
8
5368

565
114
5366

620
167
5439

70240 72060 75750 65505 72120
62908 62631 57 146
53489 53134 47829 45011 45642 51068
9029
9280
9 190
5099
5142
5,335
4,785
4867
4893
288
217
229
181 715 181 333 189 844
162*896 162 792 170 777 177 564 179 472 178 269
18819 18,541 19,067
8563
9017
8445
8 175
7829
8386
9204
8 169
8266
8905
8944
7972
4696
4740
4738
4702
4678
4667

66 155

69790

77268

38024

5727
4760

6762
4782

9593
4787

8099
4838

PETROLEUM, COAL, AND PRODUCTS
COAL
Anthracite:
Production
thous. sh. tons..
Exports
. do
Price, wholesale *
Index, 1967- 100..
Bituminous:
Production
thous sh tons
Consumption total
do
Electric power utilities
do....
Industrial total
do
Coke plants (oven and beehive)
do....
Residential and commercial
do....

5400
1795
4637

510
145
4597

500
143
4597

495
184
4597

776299
677 286
526,005
144 150
77,009

830000

69871

568 241

70399
52598
41378
10930
6,111
290

71355

52372
40622
11270
6,230

66,493

55881
45731
9921
5317
229

525
273
4621

425
286
4698

400
96
4782

460
248
4796

60700

do....
Index 1967—100

7,131
178 440
156 440
21,660
10028
64783
451 1

thous. sh. tons..
do

*52 943
27455

46 132
27094

4396
2163

4238
2262

3686
2246

3370
2402

3387
2318

3295
2244

3470
2 186

3565
2203

3683
2329

do....
do
do....
do....
do

5,185
4590
595
1,042
1545

8,627
7521
1 106
857
2162

6063
5315
748
1,327
253

6698
5850
847
1,111
229

7426
6488
938
1 137
226

8133
7095
1038
1 167
199

8676
7612
1063
1 151
246

9018
7907
1 112
1,042
207

9011
7889
1 123
974
260

9040
7833
1207
1001
156

8627
7521
1 106
857
67

101

54

132

118

r

26960
5564

1841
5339

2059
5401

2232
5490

2068
551 4

2340
5668

2636
5713

2409
5796

2239
6006

3675
6328

1789
•7044

2462
8429

3102
8430

2,905
8426

54587
85

50484
76

4129
76

4234
75

421 7
77

421 9
74

4123
73

4079
74

4030
71

4034
73

4327
75

'68020

62365

5204

5205

5114

5009

4984

4908

5078

4952

5290

31213
5942

31465
5897

2606
503

2678
497

2564
482

2652
482

261 1
482

2586
468

2646
478

2550
484

2669
49.5

2,4009
'6856
4
55.7
r
6 928 9

19304
5699
532
64225

1685
41 0
24.1
5154

1599
43 1
21 1
5182

1665
403
233
5060

145 1
424

1470
42 1
237
4974

1423
432
-2.4
5131

1468
486
-16.8
5428

1414
504
42
5173

157.1
555
-38.6
5883

857
86 1
'6 757 1
25815
68.6
12085
1,031.6
392.7
65.5
1720
581.0
4
1,340 9
430.3
S
912
4
132.0
4
778.6

96
96
87
106
24
65
95
74
110
71
89
78
87
75
86
91
72
82
4964
5242
5008
569.0
4875
4948
4864
5004
5017
62243
1965
2078
1881
2062
2073
2100
2097
2049
24207
2010
3.9
4.5
3.7
4.3
7.3
3.6
3.5
58.2
3.6
4.2
777
905
875
1130
662
789
10486
690
744
699
68,9
85.1
70.8
72.9
70.9
69.7
69.2
73.0
912.4
709
31.7
32.1
30.9
33.6
323
317
315
391 1
344
332
4.9
5.5
4.7
4.8
43
4.6
46
583
43
5.1
158
102
173
73
178
162
130
84
1426
182
49.0
46.0
39.6
54.2
355
365
377
5328
357
358
13953 13659 1387 1 14104 14252 14489 1 446.5 1,429.7 1,433.9 1,395.3
475.1
475.1
468.8
465.5
465.5
4788
473.2
475.1
470.5
4705
928
96.6
102.3
1078
912
912
1078
912
912
912
149.7
149.0
143.3
141.0
1494
1472
1410
1482
1495
1399
805.6
828.0
815.4
788.8
821.9
805.2
787.8
764.8
755.5
788.8

Stocks end of period total
Electric power utilities
Industrial total
Oven-coke plants
Exports
Price wholesale

4,835
1233
4110

..

do
do....
do
do....

(2)

178,269

9017
89882
4665

480
I80286 189929 195 147
160991 170*319 175*121
19,295 19,610 20026
9653
9534
9872
7414
8711
8449
4659
464 4
4659

r

5530

4848

COKE
Production:
Beehive and oven (byproduct)
Petroleum coke §
Stocks, end of period:
Oven-coke plants, total
At furnace plants
At merchant plants
Petroleum coke
Exports
PETROLEUM AND PRODUCTS
Crude petroleum:
Oil wells completed
numberPrice wholesale
Index 1967—100
Gross input to crude oil distillation
units
mil bbl
Refinery operating ratio
% of capacity..
All oils, supply, demand, and stocks:
New supply total If
mil bbl
Production:
Crude petroleum
do
Natural gas plant liquids
do....
Imports:
Crude and unfinished oils
do....
Refined products
do
Change in stocks, all oils (decrease,—)
do....
Demand total
.
do
Exports:
Crude petroleum
do ...
Refined products
do
Domestic product demand total #
do....
Gasoline
do
Kerosene
do....
Distillate fuel oil
do
Residual fuel oil
do....
Jet fuel
do....
Lubricants
Asphalt
LiQuefied cases
Stocks end of period total
Crude petroleum
Strategic petroleum reserve
Unfinished oils, natural gasoline etc
Refined oroducts
See footnotes at end of tables.




.

do....
do
do .
do
do....
do
do -»
do....

19346
3765

1039
943

r

148
5113

2,604
8400

SURVEY OF CURRENT BUSINESS

S-32
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS

1979

1980

1980
Apr.

Annual

June 1981

May

June

July

Aug.

1961
Sept.

Oct.

Nov.

Dec.

Jan.

Feb.

Mar.

Apr.

May

PETROLEUM, COAL, AND PRODUCTS—Continued
PETROLEUM AND PRODUCTS—Continued
Refined petroleum products:
Gasoline (incl. aviation):
Production
mil bbl
Exports
do....
Stocks end of" period
do
Prices (excl. aviation):
Wholesale regular...
Index, 2/73—100..
Retail, regular grade (Lundberg/Platt's): fl
Leaded
$ per gal .
Unleaded *
do....
Aviation gasoline:
Production
mil bbl
Stocks end of period
. do
Kerosene:
Production
do
Stocks end of period
do
Price, wholesale (light distillate)
Index, 1967=100..
Distillate fuel oil:
Production
roil
bbl
Imports
.
.. do
Exports
do
Stocks end of period
do
Residual fuel oil:
Production

191.2

25146
0.2
a
2399

2 394.0
' 0.5
2642

1895
(»)
2750

o
2660

C)

2014
(»)
2622

192.4
0.2
2610

C)

2491

194.9
(>)
2597

2069

2675

2017
0.1
2638

367.6

576.7

585.4

595.5

598.6

601.1

602.9

599.6

591.5

590.8

596.1

0.878
0.919

1217
1.261

1.229
1.270

1.234
1.276

1.237
1.279

1235
1.278

1233
1.278

1.221
1.268

1.217
1.265

1.220
1.268

1.233
1.281

137
2
27

128
2.8

10
31

10
29

10
28

13
29

14
30

09
2.7

09
2.6

10
28

668
158

503
116

43
134

36
138

35
139

38
143

33
133

3.6
129

38
124

3.9
127

52
116

539.6

863.4

862.5

870.5

878.4

892.7

903.1

903.2

896.3

896.8

911.4

1 1508
'705
1i
2287

9749
50.8
12
205.1

739
44
01
1770

766
39
(i)
1831

794
32
(i)
1958

834
36
01
2138

763
24
(i)
2263

806
3.0
(i)
232.3

803
3.6
(*)
225.7

810
4.0
(i)
223.3

897
52
(»)
2051

573.9

850.6

858.9

864.8

860.9

870.2

875.6

873.7

868.4

873.4

891.1

6156
4201
32
95.6
684.5

577 1
3366
122
90.3
961.2

477
23 l
12
85.2
9332

467
252
06
87.6
870.0

472
225
04
87.7
853.7

459
24 4
19
85.6
944.5

448
27 1
01
86.9
953.7

449
272
06
87.9
956.2

47.3
469
515
307
270
318
2.6
19
22
93.8
91.0
90.3
943.8 1,017.3 1,166.9 '1,207.9 1,237.4

369.2
385

365.6
420

30.7
393

31.0
413

30.1
423

30.2
409

29.7
403

31.2
422

30.3
43.2

29.7
43.9

29.8
420

71.0
86
12.5

65.1
86
13.5

5.6
08
11.8

5.8
09
12.5

5.3
09
12.3

5.8
08
13.3

5.0
06
13.6

5.4
0.6
13.7

5.3
0.6
13.2

5.0
0.5
13.2

5.4
06
13.5

1688
18.9

1412
18.8

107
33.8

120
32.9

134
30.2

14 1
26.2

139
22.5

138
19.1

126
16.1

10.9
17.0

91
18.8

5680
443.9
1241
110.7

5645
443.6
1209
125.0

470
37.0
100
100.0

463
36.2
101
107.6

458
35.8
100
116.8

461
35.9
102
125.5

467
36.7
100
134.7

447
35.2
94
137.1

47.5
38.2
9.3
134.5

46.5
36.7
9.7
132.1

487
38.0
107
125.0

4

Index, 1967=100..
mil bbl

Exports
do
Stocks end of period
do....
Price, wholesale
Index, 1967=100..
Jet fuel:
Production
mil. bbl..
Stocks end of period
do
Lubricants:
Production
do....
Exports
do
Stocks end of period.
do. ..
Asphalt:
Production
do
Stocks end of period... .
do....
Liquefied gases (incl. ethane and ethylene):
Production total
do
At gas processing plants (L P.G.)
do...
At refineries (L R G )
do
Stocks (at olants and refineries)
do....

2

1966

1981

11
2.6

(*)

2642
r

607.5

632.1

682.3

694.6

690.2

1.278
1.326

1.372
1.421

1.384
1.435

5
1400
5

1.449

"1.398
"1.448

r

932.1

971.0

1,039.3

1,079.6

1,083.1

r

998.5

1,081.2 1,105.2

1,091.5

935.4

1,305.1 1,315.2 1,316.3

PULP, PAPER, AND PAPER PRODUCTS
PULPWOOD AND WASTE PAPER
Pulpwood:
Receipts
thous cords (128 cu.ft.)..
Consumption
do
Stocks end of period
do....
Waste paper:
Consumption
thous sh tons
Stocks end of period
do....
WOODPULP
Production:
Total all grades #
thous sh tons
Dissolving and special alpha
do....
Sulfate .
do....
Sulfite
do
Groundwood
do....
Semichemical
...
....
.. do..
Stocks, end of period:
Total all mills
. do..
Pulp mills
do
Paper and board mills
do....
Nonpaper mills
...
do
Exports, all grades, total
do....
Dissolving and special alpha
do....
All other
do....
Imports all grades, total
do....
Dissolving and special alpha
do
All other
. do.
PAPER AND PAPER PRODUCTS
Paper and board:
Production (Bu. of the Census):
All grades, total, unadjusted
thous. gh. tonsPaper
do....
Paperboard
do
Wet-machine board
. do.
Construction paper and board
do....
See footnotes at end of tables.




S
76,887
3

81802
80522
6285

6677
6762
5464

6800
6811
5,425

7365
6969
5,715

6782
6356
6 114

6893
6719
6310

6,722
6601
6,349

6,878
6779
6,396

6,408
6710
6,123

6,480
6234
6,285

6,832
6700
6,336

6,378
6477
6,210

6847
6889
6009

3

'12 762
'831

1035
607

1054
668

1050
672

957
743

1051
727

1051
747

1 153
790

IOCS
763

1070
831

1 109
825

'1 148
'922

1279
903

3

50 612
1,447
35,553
1829
4,667
3354

50914
1,'510
38931
1844
4596
4036

4243
134
3,238
152
375
345

4447
138
3403
161
395
351

4307
126
3,297
156
386
342

3965
111
3049
130
369
306

4334
129
3324
150
397
335

4186
94
3,216
160
388
328

4319
124
3,292
164
411
328

4224
123
3236
157
366
341

3851
126
2867
155
393
311

4355
116
3305
167
420
348

'4 128
115
'3 138
'155
'396
325

4 611
101
3,556
157
438
360

930
364
507
59
S
2,935
764
3
2,170
3
4,318
155
3
4 163

944
439
449
57
3,806
769
3037
4051
'l94
3858

922
385
471
66
360
84
276
320
24
296

976
420
485
72
317
58
259
373
13
360

971
435
462
74
362
79
283
336
29
307

982
461
453
68
356
73
283
285
10
276

1034
493
479
62
335
70
315
344
21
323

960
454
452
54
313
60
252
300
10
290

960
467
440
54
341
52
289
298
12
286

1042
542
446
54
247
52
195
323
24
299

944
439
449
57
322
52
270
334
10
324

1031
542
433
57
291
67
224
380
23
356

1 107
568
475
64
279
61
218
355
9
346

1035
529
445
61
356
83
272
368
22
348

66,608
30,012
30936
144
5,516

65,030
29874
30902
'l35
4,119

5,329
2,523
2497
10
298

5,422
2531
2600
8
284

5,289
2,394
2592
9
296

4,945
2228
2395
8
314

5,299
2382
2561
10
346

5,314
2382
2560
13
359

5,720
2614
2702
13
391

5,342
2413
2570
13
346

5,221
2474
2406
13
328

5,646
2617
2675
12
342

'5,331
'2448
'2523
17
'343

6,001
2743
2863
18
378

77 362
5,430

12 915
636

290
48
243
295
8
287

S-33

SURVEY OF CURRENT BUSINESS

June 1981
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS

1979

1980

Annual

1981

1980
Apr.

May

June

July

Aug.

Sept.

Oct.

Nov.

Dec.

Jan.

Feb.

Mar.

Apr.

May

PULP, PAPER, AND PAPER PRODUCTS—Continued
PAPER AND PAPER PRODUCTS—Cont
Paper and board—Cont.
Producer price indexes:
Paperboard
1967- 100..
Building paper and board . ..
do
Selected types of paper (API):
Groundwood paper, uncoated:
Orders new
... thous. sh. tons
Orders, unfilled, end of period
do....
Shipments
do
Coated paper:
Orders, new
do—
Orders, unfilled, end of period
do—
Shipments
do
Uncoated free sheet papers:
Orders new
,
do.. .
Shipments
do
Unbleached kraft packaging and industrial
converting papers:
Shipments
thous. sh. tonsTissue paper production
do
Newsprint:
Canada:
Production
thous. metric tonsShipments from mills
do
Stocks at mills, end of period
do....
United States:
Production
..
. do
Shipments from mills
do....
Stocks at mills, end of period
do—
Consumption by publishers
fl
do
Stocks at and in transit to publishers, end of
period
thous metric tons
Imports
thous. sh. tonsPrice, rolls, contract, f.o.b. mill, freight allowed
or delivered
Index 1967 — 100
Paperboard (American Paper Institute):
Orders, new (weekly avg.)§
thous. sh. tonsOrders unfilled . . .
- .. do
Production, total $
do....
Paper products:
Shipping containers, corrugated and solid fiber
shipments
mil. sq. ft. surf. areaFolding paper boxes, shipments... thous. sh. tonsmil $

202.1
1824

235.2
2061

232.1
2013

239.2
2068

238.9
2089

237.1
2118

238.4
2103

239.5
2102

239.9
2127

241.7
2156

241.1
219 1

251.0
2191

253.2
2252

255.9
2273

257.8
2319

!501
'116
l 506

115
141
127

103
117
131

115
103
127

121
109
'118

'136
118
'127

'121
112
122

139
121
130

123
125
121

115
116
'124

'129
122
129

115
124
115

116
121
116

119
110
119

4,763
r
389
'4671

'393
r
321
377

r
412
r

'358
'336
364

'401
'398
340

'386
'411
378

'390
'402
389

'435
'421
421

'380
'398
394

'395
'389
405

'394
'365
'426

'377
'353
'391

'420
'334
'438

389
328
393

r
660
r

r

7

693
'690

'604
'656

'698
'740

634
706

1,519
149
1509

rl

4,547
385
4527

rl

7,826
8189

rl
7
rl

3,934
4506

1

rl

708
8 344

3,788
14 353

352
380

716

633
'714

'584
'683

'581
r
612

'598
'676

'601
'664

'735
'728

'616
'662

618
671

319
373

325
378

299
'343

282
'321

3C6
'349

311
'353

328
'370

302
367

293
345

322
372

309
349

345
'391

334
380

r

8,756
8780
162

8,625
8622
165

766
763
214

767
774
207

717
732
192

601
640
154

692
662
183

651
642
192

735
735
192

708
691
208

691
735
165

751
695
221

702
684
238

766
769
235

772
782
225

3685
3,689
16
6673

4239
4234
21
6586

339
346
23
545

368
365
26
569

356
346
36
538

341
350
27
498

374
371
30
533

353
350
32
534

377
381
28
583

358
346
40
592

338
357
21
576

379
374
26

356
357
25

399
395
29

391
392
29

628
7,223

732
7,279

724
631

749
648

806
641

793
550

793
546

782
584

763
588

696
568

732
596

768
584

807
587

'827
620

830
584

2793

2694

2776

2837

2837

2838

2838

2838

2983

3019

3019

3019

3019

()
(*)
30 952

'2562

'2652

'2597

'2407

'2567

'2529

'2683

'2,603

'2,313

'2709

T

2539

'2,842

2,754

243 228

20636

19150

19115

18456

19345

21054

23229

18,849

19,313

21,161

20044

21,383

21,583

4869
12667
4506
0730

4876
12796
3006
0713

5234
12539
8664
0690

5338
'0.650

6762
'0590

3

2494
613
1393
31,429

250,643
2,716.0
24167

2623
2369

3019

a

rl

(2)
(2)

RUBBER AND RUBBER PRODUCTS
RUBBER
Natural rubber:
Consumption
thous metric tons
73900
Stocks end of period
do ..
13212
Imports, incl latex and guayule .. thous. Ig. tons
74768
0.651
Price, wholesale, smoked sheets (N.Y.).... $ per lbSynthetic rubber:
Production
.
thous metric tons 2 534 50
Consumption
do— 2,340.62
402.86
Stocks, end of period
do....
385.10
Exports (Bu. of Census)
thous. Ig. tons..
TIRES AND TUBES
Pneumatic casings, automotive:
Production
thous.. 206,687
Shipments total
do
213 929
Original equipment
do....
58,072
Replacement equipment
.
do
150 781
5,077
Exports
do....
44873
Stocks end of period
.
. do
6,572
Exports (Bu. of Census)
do—
Inner tubes, automotive:
Exports (Bu of Census)
do
3576
See footnotes at end of tables.




586 15
12667
59831
0730

4685
15242
3890
0723

4233
14570
5526
0690

41 25
14739
4446
0685

3884
14989
3849
0673

43 16
13850
3137
0680

4938
13290
5592
0728

4948
12952
3177
0790

5026
123 14
5031

200904
1 854.00
341.77
422.78

19240
14889
452.15
41.68

15957
13573
44508
46.88

12964
12014
42922
3733

11029
131.03
391.19
36.54

12367
133.73
372.33
30.46

14976
16597
339.73
25.51

17459
16786
325.35
33.45

17845
157.70
328.87
30.72

19369
155.13
341.77
32.31

193 52
162.34
364.00
31.21

16968
166.29
354.11
31.65

38.73

31.77

159 263
177 063
40*227
131 271
5,565
33298
9,058

13678
15 558
3271
11791
496
49220
863

11370
14056
3131
10505
419
46972
787

10716
15 301
3073
11786
442
42817
618

10206
13457
2217
10817
423
40079
572

12057
15537
2521
12566
450
37057
657

13911
17 564
3615
13497
452
33730
885

15790
18034
4304
13 133
597
32 112
638

12861
13305
3376
9499
431
32363
691

13346
12926
2707
9767
452
33298
946

15463
15622
3228
11916
478
40 188
797

15641
14323
3206
10537
580
43258
1,081

16,834
18617
4,301
13607
709
43686
1,055

15,466
18835
4,154
14 160
521
42,393
1,224

4 557

438

328

441

458

265

464

226

314

317

206

358

335

374

0580

SURVEY OF CURRENT BUSINESS

S-34
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS

1979

1980

1981

1980
Apr.

Annual

June 1981

May

June

July

Aug.

Sept.

Oct.

Nov.

Dec.

Jan.

Feb.

Mar.

20,665

20,782

30,229

361.4
11.1
343

536.5
9.7
505

Apr.

May

STONE, CLAY, AND GLASS PRODUCTS
PORTLAND CEMENT
Shipments, finished cement
thous. bbl.. '451,383
CLAY CONSTRUCTION PRODUCTS
Shipments:
Brick, unglazed (common and face)
mil. standard brick..
Structural tile except facing
thous sh tons
Sewer pipe and fittings vitrified
do
Facing tile (hollow), glazed and unglazed
mil. brick equivalent..
Floor and wall tile and accessories, glazed and
unglazed
mi. so. ft..
Price index, brick (common), f.o.b. plant or N.Y.
dock
1967-100..

7,708.1
590
8553

1

402,825

33,011

36,324

39,314

39,840

39,644

40,489

43,303

31,824

28,181

6,335.2
1016
7218

505.0
7.1
508

520.8
76
520

558.4
76
533

588.0
91
715

574.0
89
767

625.5
9.4
787

681.0
9.7
965

527.9
10.3
735

463.4
9.7
455

r

385.6
64
r
368

54.0

45.4

3.4

46

4.6

4.2

3.0

3.8

4.2

3.2

3.6

2.7

2.4

3.2

312.8

297.6

24.1

243

24.6

24.1

24.4

26.1

25.9

21.1

23.1

'20.6

21.7

27.4

280.9

281.7

281.7

281.7

280.7

281.6

285.9

286.3

286.3

'290.2

290.5

300.3

301.1

25,603 '24,970
23,061 '22,656

27,784

27,510

29,013

27,209

263.1

280.8

GLASS AND GLASS PRODUCTS
Flat glass mfrs ' shipments
thous $

858 130

868 914

Glass containers:
Production

thous. gross..

321,999

322,092

27,154

26,615

29,145

317,041

24,925

25,630

27,329
28,495

26,476

317,829

27,068
27,654

28,625

do....

28,829

30,064

26,558

25,054
23,153

do....
do
do....
do

26,686
54995
113 875
26111

27969
57705
116 267
24591

2338
4516
9229
1750

2295
5109
9867
1858

2,392
5502
11068
2149

2,300
6076
11254
1873

2728
5683
10793
2032

2,781
5662
10,343
2278

2,157
4776
9,433
2478

1,768
3932
8,651
2034

1,787
2,089
4198
3951
8159 * 7471
2013
2119

'2,143
'3716
'7,731
'1879

2,752
5190
9,504
2598

2202
5561
10347
2174

Wide-mouth containers:
Food (incl. packer's tumblers, jelly glasses,
and fruit jars)
thous gross

66517

61 167

4489

4251

4283

4812

5241

6306

5149

4673

4935

5046

'4793

6302

4522

Narrow-neck and wide-mouth containers:
Medicinal and toilet
do....
Chemical, household and industrial
do....
Stocks end of period
do

25856
3,789
45935

26117
3,225
48177

2379
224
52488

2028
222
52913

2017
243
52828

1,876
304
51372

2099
253
50285

2369
325
46574

2305
260
48825

1,898
197
50302

1709
189
48 177

2205 '2149
245
286
50433 '52 049

2350
317
50130

2174
'229
50268

1
14,630
1

12479
11485
7365

946
874
477

920
826
607

980
869
597

1,019
964
617

1050
984
625

1,106
1032
595

1,248
1064
493

1,028
968
719

1081
924
590

987
1026
721

892
885
487

939
1005
456

'5,544

410

459

575

413

428

607

529

493

531

309

306

308

379

409

34

32

30

33

36

34

40

31

31

30

33

36

121
283
16,865
125
444
218
12556
3,272
249
(5)

217
161
14,131
78
339
190
9923
3266
105
229

19
14
1,131
6
25
13
789
273
9
16

18
14
1,021
6
25
13
711
243
8
14

19
13
1,090
7
25
15
753
266
g
15

18
13
1,166
6
27
17
807
281
9
18

19
13
1,203
5
29
17
840
278
10
25

18
13
1,258
6
31
18
879
289
10
24

20
15
1,365
5
31
20
961
310
11
27

14
11

15
13
1,149
5
29
16
809
265
8
16

16
13
1,260
7
31
17
884
293
10
19

17
12
1,068
6
24
14
734
260
9
21

19
16
1,239
6
29
18
857
296
9
24

641
268
373
777
332
445
660
343
317

3
825
3
340
3

»736

629
244
385
785
341
444
790
428
362

'684

3
875
3
338
3

Shipments, domestic, total
Narrow-neck containers:
Food
Beverage
Beer.
Liquor and wine

GYPSUM AND PRODUCTS
Production:
Crude gypsum (exc. byproduct) .... thous sh. tons..
Calcined
do
Imports crude gypsum

do

Sales of gypsum products:
Uncalcined

do....

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
Predecorated wallboard
5/16 mobile home board

do
do
do....
mil. sq. ft..
do
do....
do
do
do....
do
do....

14 543
7773

r

5,603

245 983

210 895

191 757

20,656
23,096

1,108
5
27
17
784
246
8
20

TEXTILE PRODUCTS
FABRIC
Woven fabric, finishing plants: *
Production (finished fabric)
Cotton
Manmade and silk fiber
Inventories held at end of period
Cotton
Manmade and silk fiber
Backlog of finished orders
Cotton
Manmade and silk fiber

mil linear yd..
do
do....
do....
do....
do
. do....
do
do....

COTTON
Cotton (excluding linters):
Production:
Ginnings
fl
thous. running bales..
Crop estimate
thous net weight bales §
Consumption
thous running bales
Stocks in the United States, total, end of period #
thous. running balesDomestic cotton total
do....
On farms and in transit
do....
Public storage and compresses
do
Consuming establishments
do....
See footnotes at end of tables.




8,065
3107
4,957
828
351
477
9408
4838
4,569

8420
3531
4990
769
339
430
8495
4577
4,219

8
14,262
2

a
!0,824
a

6140

6135

12,933
12,929
3,937
8,160
832

9,261
9,260
2,502
5927

14 629

3
866
3
346
S

520
818
350
468
826
433
393

662
274
388
806
342
463
774
399
376

650
277
374
780
340
440
691
354
337

3
588
3
252
8

336
788
346
442
679
346
333

4

200

602
248
354
795
353
442
694
363
331

4

581

4

1,311

639
251
388
867
356
451
696
365
331

485

800
346
454
681
347
334

4

4,603

4

7,843

3
286
3

450
769
339
430
660
342
318

265

537
786
339
448
813
442
372

'420
'801
'343
'458
'827
'451
'376

4

9,925

ll 122

831

3

622

496

478

6,592
6,586
1,376
4081
1.129

5,187
5182
962
3124
1.096

4,014
4012
671
2341
1.000

3

487

443

456

3,027
3026
250
1822
954

13,290
13288
10,890
1509
889

12,443
12441
10,080
1578
783

3

597

458

10,948
10946
7,024
3180
742

10,271
10270
4,451
5070
749

3

475

435

446

9,261
9260
2,502
5927

8,328
8326
1,534
5846
946

7,201
7200
1,054
1509
1.037

831

'3539

433

5,938
'5837
'606
'4227
'1.104

P
4976
P

r

P

4975
"448
3452

n!o75

302.2

Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS

S-35

SURVEY OF CURRENT BUSINESS

June 1981
1979

1980

1980
Apr.

Annual

May

June

July

Aug.

1981
Sept.

Nov.

Oct.

Dec.

Jan.

Feb.

Mar.

Apr.

May

TEXTILE PRODUCTS—Continued
COTTON AND MANUFACTURES—Cont
Cotton (excluding linters)—Continued
Exports
thous running bales
Imports
thous. net-weight bales §
Price (farm), American upland fl cents per lb..
Price, Strict Low Middling, Grade 41, staple 34
(1-1/16"), average 10 markets
cents per lb..
Spindle activity (cotton system spindles):
Active spindles, last working day, total
milConsuming 100 percent cotton
do....
Spindle hours operated, all fibers, total
bil..
Average per working day
do....
Consuming 100 percent cotton
do
Cotton cloth:
Cotton broadwoven goods over 12" in width:
Production (qtrly.)
mil. lin. yd..
Orders, unfilled, end of period, compared with
avg. weekly production
no. weeks' prodInventories, end of period, compared with
avg. weekly production
no. weeks' prod..
Ratio of stocks to unfilled orders (at cotton
mills) end of period
Exports, raw cotton equiv. thous.
net-weight §
bales
Imports, raw cotton equivalent
do....
MANMADE FIBERS AND MANUFACTURES
Fiber production, qtrly:
Filament yarn (acetate)
mil. lb..
Staple, incl. tow (rayon)
do....
NonceUulosic, except textile glass:
Yarn and monofilaments
do .
Staple incl tow
do
Textile glass fiber
do....
Fiber stocks, producers', end of period:
Filament yarn (acetate)
mil lb
Staple, incl. tow (rayon)
do....
NonceUulosic fiber, except textile glass:
Yarn and monofilaments
do
Staple incl tow
do
Textile glass fiber
do
Manmade fiber and silk broadwoven fabrics:
Production (qtrly.), total #
mil. lin. yd..
Filament yard (100%) fabrics #
do
Chiefly rayon and/or acetate fabrics
do....
Chiefly nylon fabrics
do
Spun yard (100%) fab., exc. blanketing # .. do....
Rayon and/ or acetate fabrics, blends
do....
Polyester blends with cotton
do....
Filament and spun yarn fabrics
do....
Manmade fiber gray goods, owned by weaving
mills:
Ratio, stocks to unfilled orders, end of period
Prices, manufacturer to mfr., f.o.b. mill:
50/50 polyester/carded cotton printcloth, gray,
48" 3 90 yds /lb 78x54-56
$ per yd
Manmade fiber manufactures:
Exports, manmade fiber equivalent
mil. Ibs..
Yarn tops thread cloth
do
Cloth, woven
do
Manufactured prods., apparel, furnishings do....
Imports, manmade fiber equivalent
do....
Yarn tops thread cloth
do
Cloth woven
do
Manufactured prods., apparel, furnishings do....
Apparel total
do
Knit apparel
do .
WOOL AND MANUFACTURES
Wool consumption, mill (clean basis):
Apparel class
mil. lb..
Carpet class
do....
Wool imports clean yield
do
Duty-free (carpet class)
do
Wool prices, raw, shorn, clean basis, delivered to
U.S. mills:
Domestic—Graded territory, 64's, staple 2-3/4"
and up
cents per lb
Australian, 64's, Type 62, duty-paid
do....
Wool broadwoven goods, exc. felts:
Production (qtrly.)
mil. lin. yd..
FLOOR COVERINGS
Carpet, rugs, carpeting (woven, tufted, other),
shipments quarterly
mil sq yds
APPAREL
Women's, misses', juniors' apparel cuttings: @
Coats
thous. units..
Dresses
do
Suits (incl. pant suits, jumpsuits)
do....
Skirts
.
do
Blouses
thous. dozen..
See footnotes at end of tables.




'6,649
6,127
57.5

7,975
15,816
73.3

916
0
63.3

'ks

74.9

540
2

402
0
80.1

393
2
81.4

237
1
75.3

77.6

436
5

541
5
80.9

76.9

669
1

2,352
6
71.4

72.3

733
8

498
(7)
73.2

"72.1

85.1

83.3

81.5

81.2

78.5

15.9
5.9
7.3
'0.397
3.4

15.9
5.9
7.4
0.371
'2.7

15.8
'5.8
4
9.1
0.366
4
3.3

12.8

13.3

14.7

5.2

5.4

911
TM

686
(

3

3

71.5

79.0

78.3

72.4

79.0

85.6

87.5

85.8

87.0

87.2

16.2
6.4
102.0
0.393
41.7

15.9
6.0
102.4
0.388
42.0

16.3
6.4
10.0
0.402
4
4.1

16.2
6.4
8.1
0.403
3.3

16.1
6.3
7.9
0.393
3.2

16.0
6.2
4
8.2
0.329
4
3.4

16.1
6.2
7.6
0.378
3.2

15.7
6.2
7.3
0.367
3.2

16.1
6.1
10.0
0.398
4
4.1

16.0
6.0
8.0
0.399
3.4

15.9
6.0
4
8.3
0.333
4
3.3

3,858

3,729

5

5

16.8

14.7

15.4

18.0

13.2

12.8

12.2

11.3

14.0

4.0

5.4

4.2

3.8

4.3

3.9

61.6

18.9

4

968

15.8

5

5

3.7

4.2

4.0

4.1

4

5.7

13.8

4.8

4.9

0.35

5

0.24

0.28

0.29

0.30

0.32

0.30

0.35

0.34

0.40

0.40

0.40

0.33

627.7
505.5

540.2
567.0

45.2
53.0

42.4
44.7

47.2
60.5

34.6
49.2

44.3
41.3

48.0
49.4

42.0
44.7

38.4
43.2

40.9
38.7

34.8
74.9

28.2
68.4

35.8
66.9

316.6
549.4

308.5
443.3

821
113.4

775
101.0

4,136.3
4,282.3
1,014.4

3,725.3
4,148.2
867.3

889.8
939.5
224.0

816.6
959.4
183.3 '•••••"•••••• •••••'•••••••'

11.8
35.6

18.4
27.2

126
37.3

177
348

184
27.2

15.8
29.3

379.8
311.1
152.5

289.3
287.0
104.1

383.3
324.3
158.9

3127
2854
1497

289.3
2870
1041

292.6
318.1
108.8

6,589.8
2,414.3
396.4
425.2
3,531.9
338.4
2,426.6
398.9

6,709.8
2,479.6
400.8
401.2
3,663.7
313.1
2,603.8
442.9

1,646.3
6091
100.8
105.0
912.4
77.6
658.2
99.1

0.29

2.6

916

813

5

0.20

5.8

61.4
116.3

689
102.0

1,001.5
1,143.9
217.7

"••»«"""

979.2
1,083.0
236.9

1,772.5
674.3
99.4
96.2
945.6
82.3
665.7
1267

1 551 6
5756
92.7
870
858.7
72.5
606.8
95.3

5

0.22

•0.472

0.510

0.486

0.482

0.476

0.490

0.494

0.513

0.551

0.593

0.575

0.569

0.564

0.568

596.58
371.44
228.63
225.13
524.97
102.18
64.58
422.79
359.61
184.50

771.54
418.64
249.77
352.91
540.64
97.48
67.28
2
443.15
378.52
187.74

69.01
36.17
19.02
32.84
37.37
8.59
6.02
28.78
23.60
11.66

64.85
34.80
20.89
30.05
46.72
8.64
5.60
38.09
32.39
16.85

70.85
37.84
23.74
33.01
55.92
9.40
6.41
46.52
40.70
21.81

58.44
30.80
17.39
27.63
57.69
7.90
5.84
49.79
44.03
23.30

63.79
35.77
22.00
28.02
50.18
7.55
5.69
42.64
37.62
19.38

63.29
33.15
20.95
30.14
52.11
7.96
5.72
44.15
38.26
19.20

75.94
43.66
27.14
32.28
49.19
7.45
5.57
41.73
36.10
18.89

64.97
35.64
20.92
29.33
40.10
7.27
5.12
32.83
27.71
12.08

64.27
37.00
21.97
27.26
35.46
7.36
5.06
29.10
22.74
8.77

52.84
28.16
17.44
24.67
46.72
10.17
7.00
36.55
31.03
12.23

53.23
27.84
18.23
25.38
38.55
8.04
5.50
30.50
25.64
10.09

66.88
33.72
21.67
33.16
43.81
11.86
8.91
31.94
26.70
10.51

106.5
10.5
42.3
22.0

113.5
9.1
56.5
26.0

11.4
4
0.9
4.6
2.2

9.2
0.7
5.7
3.3

8.3
0.6
4.5
3.0

4
7.5
4

0.7
5.3
3.0

8.4
0.9
4.8
2.0

7.7
0.7
4.1
1.2

10.0
4
0.6
4.0
1.6

10.2
0.7
6.9
2.7

11.0
0.8
7.7
2.5

12.9
4
0.9
8.6
1.8

5
2.18
5

B
2.45
B

2.31
2.99

225
3.10

2.33
3.21

2.45
3.11

2.51
3.06

2.53
3.11

2.53
3.21

2.53
3.19

2.68
3.12

2.74
3.07

117.4

114.8

33.9

22.1

25.2

1,206.0

1,082.2

258.5

253.0

277.3

17,394
169,697
25,275
63,648
24.932

19,199
168,383
21,140
73,608
25.781

2.77

3.09

4

1,433
17,327
1,825
5,760
2.199

1,712
14,847
1,390
5,256
2.152

1,803
15,553
1,469
5,544
1.987

1,628
12,903
1,533
4,896
1.803

2,213
13,177
1,957
6,576
2.216

1,962
11,953
2,357
6,876
2.246

4

10.8
4
0.8
3.9
1.2

8.8
0.6
3.6
1.5

2.53
3.06

2.53
3.20

1,926
11,993
1,954
6,972
2.349

1,589
9,785
1,391
6,432
2.117

4

1,163
9,267
1,229
5,904
1.912

1,280 '1,136
10,580 '12,246
1,371 '1,404
7,824
9,552
2.225 '2,413

1,105
14,015
1,428
10,476
2.403

0.581

0.576

10.8
0.7

'2.78
3.14

2.78
3.16

SURVEY OF CURRENT BUSINESS

S-36
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are a*» shown
in the 1977 edition of BUSINESS STATISTICS

1979

1980

1980
Apr.

Annual

June 1981

May

June

July

Aug.

1981
Sept.

Oct.

Nov.

Dec.

Jan.

1,236
1,506
10,696
15,982
2672
23,193

1,105
1,299
7,917
13,005
2,147
21,689

r
1,211
l,044
1,484 1,637
9,025 '9,348
15,909 '12,977
2,535 r2527
23,721 24,531

Feb.

Mar.

Apr.

1,294
1,571
10685
15,990
2634
24,265

1,328
1,695
11241
12,882
2525
26,119

May

TEXTILE PRODUCTS—Continued
APPAREL—Continued
Men's apparel cuttings: @
Suits
thous. units..
Coats (separate), dress and sport
do....
Trousers (separate) dress
do....
Slacks (jean cut), casual
do....
Shins dress and sport . .
thous doz..
Hosiery, shipments
thous. doz. pairs..

15,935
14,329
124 688
208,368
38895
290,453

14,471
17,985
122 399
211,112
36662
286,379

1,327
J,740
10861
18,046
3307
24,896

1261
1,643
10322
16,866
3135
22,378

1,116
1,752
10072
19,370
3370
25,691

817
1,219
6,356
14,094
2459
26,811

1,203
1,428
11419
18,249
2972
23,770

1,262
1,739
11,403
22,061
3060
22,754

1,467
1,810
12,567
18,745
3,082
26,371

TRANSPORTATION EQUIPMENT
AEROSPACE VEHICLES
r
70,847
19,342
65,208
Orders, new (net), qtrly, total
mil. $..
28,107
7,478
'33,222
U S Government
do....
18,616
59,611 '68,162
Prime contract
do
14,799
46,173 '57,605
Sales (net), receipts, or billings, qtrly, total
do....
26,141
6,519
23,229
U S Government
do
'95,371
89339
78,259
Backlog of orders, end of period #
do....
36,926
36,136 '41,513
U S Government
do....
46,953
'47,857
41,286
Aircraft (complete) and parts
do....
10,878
11,655
9,198
Engines (aircraft) and parts
do....
Missiles, space vehicle systems, engines, propul7,387
7,954
'8,855
sion units, and parts
mil. $.Other related operations (convercions, modifica9,687
10,725 '10,871
tions), products, services
mil. $..
Aircraft (complete);
11,186.1 13,120.4 1,210.9 1,275.3 1,041.3 1,041.3
Shipments
do
7,851
7,397
8,975
97,327
77,327
9,084
Airframe weight
thous. lb..
607
640
706
709
3,250
6,149
Exports commercial
mil $
MOTOR VEHICLES (NEW)
Passenger cars:
3
4
432
544
518
572
6,400
8,419
Factory sales (from U.S. plants), total
thous..
4
400
496
515
5,840
462
7,678
Domestic
....
do....
743
772
702
697
8,980
10,559
Retail sales, total, not seasonally adj
do....
542
541 . 499
511
6,582
8,232
Domestics §
do
230
191
198
202
2,399
2,329
Impo**ts §
do....
9.0
7.4
8.0
7.2
Total seas adjusted at annual rate
mil
6.5
5.3
5.9
5.3
Domestics §
do....
2.5
2.2
2.0
2.1
Imports §
do....
Retail inventories, end of mo., domestics:
1,507
1,628
1,598
1,585
1,448
1,691
Not seasonally adjusted
thous
1,417
1,450
1,423
1,409
1,350
1,667
Seasonally adjusted §
do....
2.6
3.3
2.9
2.5
3.2
2.6
Inventory-retail sales ratio, domestics §
31.04
51.92
60.21
69.38
607.80
779.16
Exports (BuCensus) assembled cars
thous
27.09
42.94
51.35
58.95
509.13
590.95
To Canada
do....
277.4
307.6
294.7
3,310.7
293.7
Imports (BuCensus), complete units
do.... '3,005.5
38.8
'594.7
52.6
51.3
47.2
'677.0
From Canada total
do....
716
676
787
10,357
733
8,761
Registrations fi, total new vehicles
do....
216
222
2,469
199
215
2,351
Imports, incl. domestically sponsored
do....
Tracks and buses:
3
107
130
1,667
104
109
3,037
Factory sales (from U.S. plants), total
thous..
88
83
93
113
1,464
2,741
Domestic
do....
Retail sales, seasonally adjusted:
177.1
166.7
148.7
149.8
1,963.5
Light-duty, up to 14,000 Ibs. GVW
do.... 2,861.0
7.4
7.4
5.7
7.4
92.3
151.6
Medium-duty, 14,001-26,000 Ibs. GVW
do....
15.2
175.7
14.1
13.1
Heavy-duty, 26,001 Ibs. and over GVW
do....
12.6
223.2
Retail inventories, end of period, seasonally
578.0
730.7
612.0
699.3
574.0
803.4
adjusted
thous
15.42
16.40
17.45
15.51
Exports (BuCensus), assembled units
do....
259.44 5 190.32
Imports (BuCensus), including separate chassis
92.82 108.95
98.14
974.13 1,133.28 105.05
and bodies
thous
Registrations, fi new vehicles, excluding buses not
222
221
2,477
3,472
211
207
produced on truck chassis
thous
Truck trailers and chassis, complete (excludes
7,294
detachables) shipments
number
209,522 124,383 11,876 10,337 10,138
4,080
6,334
7,493
77,202
6,318
Vans
do.... 138,484
509
7,226
631
258
770
Trailer bodies (detachable), sold separately
do....
9,154
C
820
1,493
14,202
883
1,348
Trailer chassis (detachable), sold separately
do....
14,700
RAILROAD EQUIPMENT
Freight cars (new), for domestic use; all railroads
and private car lines (excludes rebuilt cars and
cars for export):
5,890
7,893
7,902
8,073
Shipments
number.. '90,021 1185,920
7,546
80,357
5,455
7,521
Equipment manufacturers
do.... '83,931
7,484
3,393
3,144
5,744
New orders
do.... rl1l!9,091 1'45,390 '3,866
3,393
3,144
2,851
3,882
40,140
113,060
Equipment manufacturers
do
51,640 '90,305 87,277 79,486 75,284
Unfilled orders, end of period.
do.... '119,001
47,136 84,847 78,911 71,701 67,934
Equipment manufacturers
do.... 112,749
Freight cars (revenue), class 1 railroads (AAR): $
1,186
1,192
1,168
1,201
Number owned end of period
thous
1,217
1,195
8.7
8.1
8.3
8.1
8.8
Held for repairs, % of total owned
8.0
92.56
94.47
93.31
93.51
93.74
93.84
Capacity (carrying), total, end of mo
mil. tons..
Average per car
tons..
78.67
79.48
79.24
78.15
77.62
78.46
See footnotes at end of tables.




'19,355
'J 0,197
'18,638
'16,433
7,201
'95,371
'41,513
'47,857
11,655

17,301
8,168
16,764
14,405
6,588
92,242
38,507
48,039
12,190

20,241
10,047
19493
16,248
7509
99,366
44,051
50,283
11,953

7,854

'8,855

9,148

9,877

'10,871

11,759

717.1 1,305.0
5,571 10,343
792
522

1,191.1 1,232.1 1,195.5
8,433
8,752
8,613
1,020
726
705

744.7 '1,067.8 1,355.3
5,007 '8,037
9,350
963
751
337

1,049

2

299
280
686
487
199
8.9
6.7
2.1

529
487
672
486
186
8.5
6.3
2.2

675
623
847
664
183
9.2
6.8
2.4

560
517
698
530
169
9.3
6.8
2.5

490
452
650
472
178
8.9
6.4
2.5

439
407
648
470
178
9.7
7.0
2.6

475
432
764
544
220
10.5
7.5
3.0

620
565
963
719
244
10.4
7.7
2.7

'645
589
751
534
218
8.0
5.8
2.3

1,337
1,330
2.4
22.61
18.78
230.0
21.8
704
215

1,373
1,332
2.6
41.64
35.48
252.8
41.9
702
212

1,390
1,328
2.3
58.39
51.09
276.9
66.1
747
196

1,440
1,351
2.4
4S.95
39.78
271.5
63.3
730
187

1,448
1,350
2.5
40.48
32.45
253.0
49.9
711
188

1,421
1,241
2.1
31.02
23.71
276.5
35.6
636
174

1,335
1,117
1.8
52.82
46.31
209.0
29.5
675
200

1,216
1,013
1.6
60.36
53.12
306.6
53.9
849
226

1,344
'1,117
2.3
58.52
52.65
282.3
55.6
752
228

84
73

134
120

186
168

155
140

149
132

140
126

135
118

167
146

'162
142

156.5
8.1
16.9

147.9
9.0
15.3

143.1
7.1
14.3

151.7
6.3
12.9

145.7
6.6
13.6

153.0
8.6
13.5

156.5
6.4
12.4

149.0
6.2
13.8

150.8
8.7
14.5

157.3
6.3
11.6

522.7
13.33

524.1
13.21

554.2
14.94

570.5
14.08

590.5
14.08

575.2
12.96

548.5
19.65

547.7
20.01

541.5
16.21

546.4

90.89

89.86

110.44

77.93

62.17

88.30

46.10

70.72

63.66

196

190

185

190

191

162

163

176

186

8,435
5,404
231
l,070

9,439
6,088
840
1,053

10,276
6,392
827
1,443

9,065
5,857
754
1,179

9,950
6,438
767
1,083

9,186
5,936
614
1,074

8,311
4,696
835
1,332

'9,490
'5,211
'545
2,662

9,938
5,744
977
885

6,994
6,158
2,797
2,531
69,432
62,652

6,947
6,596
4,406
4,406
66,007
59,806

7,368
6,956
2,047
1,847
59,378
53,389

4,945
4,574
3,930
3,230
57,655
51,337

5,530
5,151
4,722
4,722
51,640
47,136

5,336
5,064
2,147
2,147
48,451
44.21S

4,709
4,401
2,069
2,069
45,121
41,197

5,162
4,718
1,559
1,559
41,539
38,059

4,245
3,792
1,762
1,737
38,972
35,920

1,184
8.8
93.27
78.75

1,180
8.9
93.06
78.83

1,177
8.8
93.61
79.09

1,172
8.7
93.06
79.38

1,168
8.8
92.56
79.24

1,166
8.1
92.47
79.32

1,163
8.0
92.35
79.42

1,162
8.0
92.37
79.49

1,146
8.0
91.07
79.49

c

662
734
524
210
7.9
5.7
2.2

1,472
1,240
2.6

2

162

SURVEY OF CURRENT BUSINESS

June 1981

S-37

FOOTNOTES FOR PAGES S-l THROUGH S-36
General Notes for all Pages:
r
p
e
c

Revised,
Preliminary,
Estimated,
Corrected.

Page S-l

PageS-7

1. Estimates (corrected for systematic biases) for Apr.-June and July-Sept. 1981 based on
planned capital expenditures of business. Planned capital expenditures for the year 1981
appear in the article on plant and equipment expenditures in this issue of the SURVEY.
t The estimates for plant and equipment expenditures have been revised. An article describing
that revision and containing revised estimates for 1947-77 begins on p. 24 of the Oct. 1980
SURVEY.
f Data for the individual durable and nondurable goods industries appear in the Mar.,
June, Sept., and Dec. issues of the SURVEY.

1. Annual average computed by BEA.
2. Effective March 1981, indexes are no longer available.
§ For actual producer prices of individual commodities see respective commodities in the
Industry section beginning p. S-22. All data subject to revision four months after original
publication.
t Revised series. Stage-of-processing producer price indexes have been revised back to
1976 to reflect updated industry input-output relationships and improved classification of
some products.
# Includes data for items not shown separately.
$ Effective Mar. 1980 SURVEY, data have been revised back to 1967 to reflect new seasonal
factors. Effective Feb. 1981, data have been revised back to 1976 to reflect new seasonal
factors.
# New series. Data back to 1975 will be shown in the 1979 BUSINESS STATISTICS.

PageS-2
t Revised series. Estimates of personal income have been revised as part of the 1980
benchmark revision of the national income and product accounts. An article describing that
revision appears in the Dec. 1980 SURVEY. Data for 1976-79 will be published in a separate
supplement to the SURVEY. Pre-1976 data will be published in The National Income and
Product Ac counts of the United States, 1929-76: Statistical Tables.
$ Includes inventory valuation and capital consumption adjustments.
# New series. Detailed descriptions begin on p. 18 of the Nov. 1979 SURVEY. See note "t"
for this page for information on historical data.
§ Monthly estimates equal the centered three-month average of personal saving as a percentage of the centered three-month moving average of disposable personal income.
# Includes data for items not shown separately.
II Revised data for 1976-78 will be shown in the 1979 BUSINESS STATISTICS.

PageS-3
1. Based on data not seasonally adjusted.
If Seenote"T'forp.S-2.
# Includes data not shown separately.
$ Revised series. Data for both the manufacturing and retail sectors have been revised.
For manufacturing see note "t" for p. S-4. For retail see note "f" for p. S-10.
t See note "f" for p. S-4.
§ See note "t" for p. S-10.
@ Seenote"t"forp.S-9.
# New series. Data back to 1967 are available from the National Income and Wealth
Division, Bureau of Economic Analysis.

Page S-4
1. Based on data not seasonally adjusted.
$ Revised series. Data for both the manufacturing and retail sectors have been revised.
For manufacturing see note "t" for this page. For retail see note "t" for p. S-10.
t Revised series. Data revised back to 1958 to reflect (1) benchmarking of shipments and
inventories to the 1974, 1975, and 1976 Annual Surveys of Manufacturers, (2) recalculation
of new orders estimates, and (3) updating of the seasonal factors. A detailed description of
this revision and historical data appear in reports "Manufacturers' Shipments, Inventories,
and Orders" M3-1.7 (1958-1977), M3-1.8 (1967-1978), and M3-1.9 (1977-1979), available
from the Bureau of the Census, Washington, D.C. 20233.
§ See note "f" for p. S-10.
@ Seenote"f"forp.S-9.
# New series. Data back to 1967 are available from the National Income and Wealth
Division, Bureau of Economic Analysis.
# Includes data for items not shown separately.

PageS-5
1. Based on data not seasonally adjusted,
t See note "f" for p. S-4.
# Includes data for items not shown separately.
j Includes textile mill products, leather and products, paper and allied products, and
printing and publishing industries; unfilled orders for other nondurable goods industries are
zero.
H For these industries (food and kindred products, tobacco, apparel and other textile products,
petroleum and coal, chemicals and allied products, and rubber and plastics products) sales
are considered equal to new orders.

PageS-6
1. Based on unadjusted data.
2. This series has been discontinued.
$ Compiled by Dun & Bradstreet, Inc.
# Includes data for items not shown separately.
§ Ratio of prices received to prices paid (parity index).
II Data through 1977 are for urban wage earners and clerical workers; beginning Jan. 1978,
there are two indexes, all wage earners and clerical workers, revised (CPI-W), and all urban
consumers (CPI-U). These indexes reflect improved pricing methods, updated expenditure
patterns, etc.; complete details are available from the Bureau of Labor Statistics, Washington, D.C. 20212.
# New series. Earlier data are available from The Bureau of Labor Statistics, Washington,
D.C. 20212.
t Beginning Jan. 1978, CPI-U.




PageS-8
1. Computed from cumulative valuation total.
2. Data shown here are based on 1980 seasonal factors. Effective Jan. 1981, data are no
longer seasonally adjusted.
f Beginning Jan. 1979 SURVEY, monthly and annual data have been restated to reflect the
purchasing power of the dollar as measured by finished goods; comparable data for periods
prior to November 1977 will be shown in the 1979 BUSINESS STATISTICS.
t Beginning Jan. 1978, based on CPI-U; see note "If" for p. S-6.
# Includes data for items not shown separately.
§ Data for May, July, Oct. 1980, and Jan. and Apr. 1981 are for five weeks; other months
four weeks.
@ Data for new construction have been revised back to Jan. 1975 and are available from
the Bureau of the Census, Washington, D.C. 20233.
@@ Monthly revisions back to Jan. 1975 will be shown in the 1979 BUSINESS STATISTICS.
$$ Monthly data back to Jan. 1970 on the 1972=100 base will be shown in the 1979
BUSINESS STATISTICS.

PageS-9
I. Index as of June 1,1981: building, 308.3; construction, 326.8.
U Home mortgage rates (conventional first mortgages) are under money and interest rates
onp.S-15.
§ Data include guaranteed direct loans sold.
$ Source: Media Records, Inc. 64-City Newspaper Advertising Trend Chart.
@ Monthly data back to 1972 on the 1972= 100 base are available upon request.
t Effective April 1981 SURVEY, wholesale trade data have been revised for Jan. 1973-Jan.
1981. Revised data are available upon request.

PageS-10
1. Advance estimate.
2. Effective Jan. 1979 data, sales of mail-order houses are included with department store
sales.
t Effective April 1981 SURVEY, retail trade data have been revised for the years 1971-1980.
Effective April 1979 SURVEY, data have been revised from 1967-1970. Revised data and a
summary of the changes are available from the Census Bureau, Washington, D.C. 20233.
# Includes data for items not shown separately.

Page S-l 1
1. As of July 1.
2. The accounts receivable series have been discontinued.
# Includes data for items not shown separately.
$ Revisions for Jan. 1977-Oct. 1979 appear in "Current Population Reports," Series P-25,
No. 870. Revisions for July-Dec. 1976 appear in "Populations: Estimates of the Population
of the United States and Components of Change—1940-79," P-25 No. 802 (June 1979),
Bureau of the Census.
t Effective July 1980 SURVEY, data have been revised based on March 1979 benchmark
levels and updated seasonal adjustment factors; they are not comparable with previously
published data. Effective Oct. 1979 SURVEY, data have been revised based on March 1978
benchmark levels and updated seasonal adjustment factors; effective Oct. 1978 SURVEY,data
have been revised to conform to the 1972 SIC and adjusted to March 1977 benchmark levels,
therefore, data are not strictly comparable with earlier periods. See "BLS Establishment
Estimates Revised to March 1979 Benchmarks," in the July 1980 issue of Employment and
Earnings. See also Oct. 1979 and Oct. 1978 issues of Employment and Earnings for similar
articles.
U Effective with the Jan. 1980 SURVEY, the labor force series reflect new seasonal factors.
Data have been revised back to 1975; comparable monthly data for 1975-79 appear in the
Feb. 1980 issue of Employment and Earnings, U.S. Department of Labor, Bureau of Labor
Statistics.
# New series. The participation rate is the percent of the civilian noninstitutional population in the civilian labor force. The employment-population ratio is employment as a percent
of the total noninstitutional population, 16 years and over.

S-38

SURVEY OF CURRENT BUSINESS
PageS-12

f See corresponding note on p. S-l 1.
§ Effective October 1978 SURVEY, includes data formerly shown separately under ordnance and accessories.
@ Formerly shown as Electrical equipment and supplies.
H Production and nonsupervisory workers.
$ This series is not seasonally adjusted because the seasonal component is small relative to
the trend-cycle and/or irregular components and consequently cannot be separated with
sufficient precision.

PageS-13
t See note "f" on p. S-ll.
§ See note "§" on p. S-l 2.
@ See note "@" on p. S- 12.
$ See note "$" on p. S-l 2.
if Production and nonsupervisory workers.

PageS-14
t See corresponding note on p. S-l 1.
H Production and nonsupervisory workers.
$ Earnings in 1967 dollars reflect changes in purchasing power since 1967 by dividing by
Consumer Price Index; effective Mar. 1979 SURVEY, data reflect new seasonal factors for the
CPI.
§ Wages as of June 1 , 198 1 : Common, $ 1 2.77; Skilled, $ 1 6.48.
# Includes data for items not shown separately.
@ 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.
@@ Insured unemployment as a percent of average covered employment in a 12-month
period.

PageS-15
1. Average for Dec.
2. Average for the year.
3. Daily average.
4. Beginning Jan. 1981, data are for top-rated only. Prior data cover a range of top-rated
and regional dealer closing rates.
# Includes data for items not shown separately.
§ For demand deposits, the term "adjusted" denotes demand deposits other than domestic commercial bank and U.S. Government, less cash items in process of collection; for
loans, exclusive of loans to and Federal funds transactions with domestic commercial banks
and include valuation reserves (individual loan items are shown gross; i.e. before deduction
of valuation reserves).
11 Adjusted to exclude domestic commercial interbank loans and Federal funds sold to
domestic commercial banks.
$ Data beginning Dec. 1978 reflect a reduction in the number of banks reporting (from
317 to 171) and changes in consolidation basis as well as content of several asset and liability
items. Unless otherwise stated, comparable data for earlier periods will be available later.
# New series. Beginning Dec. 1978, data are for all investment account securities; comparable data for earlier periods are not available.
t Revised series. Data are now monthly averages and the coverage has been expanded.
Comparable data back to Dec. 1972 are available from the Federal Reserve Board, Washington, D.C. 20551.
$$ Rates on the commercial paper placed for firms whose bond rating is Aa or the equivalent. Data through Oct. 1979 show a maturity for 120-179 days. Beginning Nov. 1979, maturity is for 180 days.
@ Data through Oct. 1979 show a maturity for 150-179 days. Beginning Nov. 1979, maturity is for 180 days.

PageS-16
1 . Data are for fiscal years ending Sept. 30 and include revisions not distributed to the
months.
f Beginning Jan. 1979 SURVEY, the consumer credit group has been completely restructured;
comparable data for periods prior to Nov. 1977 are available from the Federal Reserve
Board, Washington, D.C. 2055 1 .
# Includes data for items not shown separately.
§ The Department of Health, Education, and Welfare was redesignated as the Department of Health and Human Services by the Department of Education Organization Act.
The Apr. 1980 figure includes 1 ,36 1 million dollars in outlays by the Department of Education.

PageS-17
1. Total for Jan.-May and Oct.-Dec.
2. Total for 1 1 months; production not available for Aug.
§ Or increase in earmarked gold (—).
f The Federal Reserve has redefined the monetary aggregates. The redefinition was prompted
by the emergence in recent years of new monetary assets — for example, negotiable order of
withdrawal (NOW) accounts and money market mutual fund shares— and alterations in the
basic character of established monetary assets— for example, the growing similarity of and




June 1981

substitution between the deposits of thrift institutions and those of commercial banks. Monthly
data from 1959 to date are available from the Banking Section of the Division of Research
and Statistics at the Federal Reserve Board, Washington, D.C. 20551.
$ Composition of the money stock measures is as follows:
Ml-A.—This measure is currency plus demand deposits at commercial banks. It is essentially the same as the old M1 except that it excludes demand deposits held by foreign commercial banks and official institutions.
A/7-/?.—This equals Ml-A plus interest-earning checkable deposits at all depositary
institutions—namely NOW accounts, automatic transfer from savings (ATS) accounts, and
credit union share draft balances—as well as a small amount of demand deposits at thrift
institutions that cannot, using present data sources, be separated from interest-earning checkable
deposits.
M2.—This measure adds to Ml-B overnight repurchase agreements (RP's) issued by commercial banks and certain overnight Eurodollars (those issued by Caribbean branches of
member banks) held by U.S. nonbank residents, money market mutual fund shares, and
savings and small-denomination time deposits (those issued in denominations of less than
$100,000) at all depositary institutions. Depositary institutions are commercial banks (including
U.S. agencies and branches of foreign banks, Edge Act corporations, and foreign investment
companies), mutual savings banks, savings and loan associations, and credit unions.
A/3.—This measure equals M2 plus large-denomination time deposits (those issued in denominations of $100,000 or more) at all depositary institutions (including negotiable CD's) plus
term RP's issued by commercial banks and savings and loan associations.
L.—This broad measure of liquid assets equals M3 plus other liquid assets consisting of
other Eurodollar holdings of U.S. nonbank residents, bankers acceptances, commercial paper,
savings bonds, and marketable liquid Treasury obligations.
$$ Includes ATS and NOW balances at all institutions, credit union share draft balances,
and demand deposits at mutual savings banks.
# Overnight (and continuing contract) RP's are those issued by commercial banks to the
nonbank public, and overnight Eurodollars are those issued by Caribbean branches of member
banks to U.S. nonbank customers.
@ Small time deposits are those issued in amounts of less than $100,000. Large time
deposits are those issued in amounts of $100,000 or more and are net of the holdings of
domestic banks, thrift institutions, the U.S. Government, money market mutual funds, and
foreign banks and official institutions.
# Includes data for items not shown separately.

PageS-18
1. Beginning Jan. 1981 data, U.S. Virgin Islands trade with foreign countries is included.
§ Number of issues represents number currently used; the change in number does not
affect the continuity of the series.
$ For bonds due or callable in 10 years or more.
# Includes data for items not shown separately.
@ 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.
@@ Effective Feb. 1979 SURVEY, seasonally adjusted data have been revised to reflect
sums of commodity components; comparable data for periods prior to 1977 will be shown in
the 1979 BUSINESS STATISTICS.

PageS-19
1. See note 1 for p. S-l8.
# Includes data not shown separately.
§ Data may not equal the sum of geographic regions, or commodity groups and principal
commodities, because of revisions to the totals not reflected in the components.
@ See note "@@" for p. S-l8.

PageS-20
1. See note 1 for p. S-l8.
# Includes data not shown separately.

PageS-21
1. Domestic trunk operations only (averaging about 90 percent of domestic total).
2. Annual total; quarterly or monthly revisions are not available.
3. Before extraordinary and prior period items.
4. For month shown.
5. Beginning Jan. 1979, data are based on a new sample of freight shipments for 1976. The
new indexes have been linked to the old indexes to maintain comparability.
6. Beginning Jan. 1977, data are for unlinked passenger trips.
7. Beginning Jan. 1980 data, another company is included.
8. Data are for six months, Jan.-June 1980.
# Includes data for items not shown separately.
§ Total revenues, expenses, and income for all groups of carriers also reflect nonscheduled
service.
$ Beginning Jan. 1977, defined as those having operating revenues of $50 million or more.
II Average daily rent per room occupied, not scheduled rates.
@ Beginning Jan. 1979, data include visits to Badlands and Theo. Roosevelt National
Parks (formerly classified as recreational areas). Beginning Jan. 1980, data include visits to
Channel Islands (formerly classified as a monument). Beginning June 1980, data include
visits to Biscayne (formerly classified as a monument). Beginning Dec. 1980, data include
visits to Katmai (formerly classified as a monument).

S-39

SURVEY OF CURRENT BUSINESS

June 1981

PageS-22
1. Reported annual total; monthly revisions are not available.
2. Data withheld to avoid disclosing operations of individual companies.
3. Beginning Jan. 1979, data include chemically-treated fertilizer and sodium nitrate containing
over 16.3% nitrogen by weight; not strictly comparable with data shown for earlier periods.
4. Annual total for monthly data where available; not comparable with earlier periods.
5. See note "T' for this page.
6. Data beginning Jan. 1979 are for value of shipments and comprise three new product
categories. Comparable data for these new categories are not available prior to Jan. 1979.
However, the difference between total value of shipments and total factory sales (formerly
shown) is considered statistically insignificant.
7. Beginning Jan. 1981, data represent gross weight (formerly phosphoric acid content
weight) and are not comparable with data shown for earlier periods.
# Includes data for items not shown separately.
§ Data are reported on the basis of 100 percent content of the specified material unless
otherwise indicated.
$ Monthly revisions, back to 1975 for some commodities, will be shown in the 1979 BUSINESS STATISTICS.
@ Monthly revisions for Oct. 1976-Feb. 1978 will be shown in the 1979 BUSINESS STATISTICS.
II Data for Jan. 1977-June 1979 exclude potassium magnesium sulfate; not strictly comparable with data shown for other periods.

PageS-23
1. Includes Hawaii; not distributed to the months.
2. Reported annual total, including Hawaii; monthly data are preliminary and subject to
change.
§ Data are not wholly comparable from year to year because of changes from one classification to another.
@ Monthly revisions, for some series back to 1976, will be shown in the 1979 BUSINESS
STATISTICS.

PageS-28
1. Annual data; monthly revisions not available.
2. Less than 500 short tons.
3. Effective Jan. 1980, data are no longer available.

PageS-29
1. Annual data; monthly revisions are not available.
2. For month shown.
3. Copper refinery production from domestic and foreign ores are not shown to avoid
disclosing information for individual firms. The source reports 79,039 metric tons of domestic ores and 14,623 metric tons of foreign ores for the period July-Sept. 1980.

PageS-30
1. Data beginning Jan. 1978 exclude stocks of lead base bullion in transit and at refineries.
2. Less than 50 tons.
3. Data are for five weeks; other months 4 weeks.
4. For month shown.
5. Annual data; monthly revisions are not available.
6. Effective July 1980 SURVEY, data are revised and shown on a new base. Revised data
are not comparable to previously published data.
If Includes secondary smelters' lead stocks in refinery shapes and in copper-base scrap.
@ All data (except annual production figures) reflect GSA remelted zinc and zinc purchased for direct shipment.
$ Source for monthly data: American Bureau of Metal Statistics. Source for annual data:
Bureau of Mines.
# Includes data not shown separately.
t Revised series. The sample size has been restored to 100 firms and the base has been
changed to 1977 =100.
* New series. These indexes are based on shipments of hydraulic and pneumatic products
reported by participating members of the National Fluid Power Association. Data back to
1959 are available upon request.

PageS-31
PageS-24
1. See note "@@" for this page.
2. Crop estimate for the year.
3. Stocks as of June 1.
4. Stocks as of June 1 and represents previous year's crop; new crop not reported until
June (beginning of new crop year).
5. Previous year's crop; new crop not reported until Oct. (beginning of new crop year).
6. Data are no longer available.
7. May 1 estimate of the 1981 crop.
8. June 1 estimate of the 1981 crop.
§ Excludes pearl barley.
# Bags of 100 Ibs.
H Revised crop estimates for 1970-75 will be shown in the 1979 BUSINESS STATISTICS.
@ Monthly revisions, for some series back to 1976, will be shown in the 1979 BUSINESS
STATISTICS.
@@ Data are quarterly except for June (covering Apr. and May) and Sept. (covering
June-Sept.).

PageS-25
1. Average for 11 months; price not available for Dec.
2. Prices for Jan.-Mar. 1979 are estimated; actual price not available. Annual average for
1979 is based on actual price (Apr.-Dec.).
3. Average for nine months; index not available for Apr.-June.
§ Cases of 30 dozen.
H Bags of 132.276 Ibs.
$ Monthly revisions back to Jan. 1975 will be shown in the 1979 BUSINESS STATISTICS.
@ Monthly revisions back to 1976 will be shown in the 1979 BUSINESS STATISTICS.
# Effective Apr. 1981 SURVEY, the wholesale price of smoked hams has been discontinued
and has been replaced with the comparable price index. Annual indexes prior to 1979 and
monthly indexes prior to Feb. 1980 are available upon request.

PageS-26
1. Beginning Sept. 1979, estimated prices are derived from a different source and are not
comparable with prices shown for earlier periods. Annual average for 1979 represents Sept.-Dec.
2. Crop estimate for the year.
3. Reported annual total; not distributed to the months.
§ Monthly data reflect cumulative revisions for prior periods.
@ Producers' and warehouse stocks.
U Factory and warehouse stocks.

PageS-27
1. Annual total; monthly revisions are not available.
* New series. Source: Bureau of Labor Statistics.
# Totals include data for types of lumber not shown separately.




1. Reflects revisions not available by months.
2. Effective Jan. 1980, total stocks for bituminous coal and lignite exclude residential and
commercial stocks and are not comparable with data shown for earlier periods.
3. Data are available back to Oct. 1977.
4. Beginning Jan. 1979, data reflect coverage of additional processing facilities; not strictly
comparable with data shown for earlier periods.
# Includes data for items not shown separately.
@ Beginning July 1977, data include shipments to mobile home and travel trailer manufacturers (formerly excluded); they are not directly comparable with data for earlier periods.
* New series. Annual data prior to 1978 and monthly data prior to April 1979 are available upon request.
§ Includes nonmarketable catalyst coke.
II Includes small amounts of "other hydrocarbons and hydrogen refinery input," not shown
separately.

PageS-32
1. Less than 50 thousand barrels.
2. See note 4 for p. S-31.
3. Reported annual totals; revisions not allocated to the months.
4. See note "U" for this page,
5. Price represents simple average of Platt's/Lundberg special retail gasoline prices for 48
cities; not strictly comparable with prices shown for earlier periods which represent weighted
average price.
H Prices are mid-month, include taxes, and represent full service; comparable prices prior
to Jan. 1979 are not available.
# Includes data for items not shown separately.
* New series. See note "U" for this page.

PageS-33
1. Reported annual total; not distributed to the months.
2. Effective Jan. 1980, data are no longer available.
3. Average for 11 months; no price for Aug.
H Consumption by 525 daily newspapers reporting to the American Newspaper Publishers
Association.
§ Monthly data are averages of the 4-week periods ending on the Saturday nearest the end
of the month; annual data are as of Dec. 31.
J Data are monthly or annual totals. Formerly weekly averages were shown.

PageS-34
1. Reported annual total; revisions not allocated to the months.
2. Crop for the year.
3. Data cover five weeks; other months, four weeks.
4. Cumulative total for the 1980 crop.
5. Data are not available prior to Jan. 1980.
* New series. Data for finishing mills have replaced data for weaving mills, which are no
longer available.
# Includes data for items not shown separately.
U Cumulative ginnings to the end of month indicated.
§ Bales of 480 Ibs.

SURVEY OF CURRENT BUSINESS

June 1981

PageS-35

Page S-36

1. Effective Jan. 1,1978, includes reexports, formerly excluded.
2. Annual total includes revisions not distributed to the months.
3. Average for crop year; Aug. 1-Jul. 31.
4. For five weeks; other months four weeks.
5. Monthly average.
6. Average for 11 months; no price for Oct.
7. Less than 500 bales.
§ Bales of 480 Ibs.
II Based on 480-lb. bales, preliminary price reflects sales as of the 15th; revised price reflects
total quantity purchased and dollars paid for the entire month (revised price includes discounts and premiums).
# Includes data not shown separately.
@ Effective Apr. 1979 SURVEY, data include 600 additional firms; comparable data back
to Jan. 1977 (except for slacks, jean cut, casual, shown on p. S-36) will appear in the 1979
BUSINESS STATISTICS.

1. Annual total includes revisions not distributed to the months.
2. Estimates of production, not factory sales.
3. Effective Jan. 1980, passenger vans previously reported as passenger cars are now included
with trucks.
4. Effective Jan. 1979, data are not directly comparable with data shown for earlier periods
because of the inclusion of Volkswagens produced in the U.S.
5. Monthly data for 1980 exclude exports for off-highway trucks; not strictly comparable
with data shown for other periods.
@ See note"®" p. 8-35.
# Total includes backlog for nonrelated products and services and basic research.
§ Domestics comprise all cars assembled in the U.S. and cars assembled in Canada and
imported to the U.S. under the provisions of the Automotive Products Trade Act of 1965.
Imports comprise all other cars.
*i\ Courtesy of R.L. Polk & Co.; republication prohibited. Because data for some states
are not available, month-to-month comparisons are not strictly valid.
$ Excludes railroad-owned private refrigerator cars and private line cars.

LOCAL AREA PERSONAL INCOME, 1974-79
PERSONAL income estimates for local areas are now available in the nine-volume publication Local Area Personal Income, 1974-79.
Estimates are shown for personal income by type of payment and for labor and proprietors' income by major industry groups. Volume 1
presents estimates for the United States, regions, States, Standard Metropolitan Statistical Areas (SMSA's), and BEA economic areas. It also
includes a detailed description of the sources and methods used in preparing the estimates, county definitions of SMSA's and economic areas,
and samples of tables available from the Regional Economic Information System. Volumes 2-9 present a summary methodology and detailed
personal income estimates for the States, counties, and SMSA's of a region. All volumes also contain analytic tables, charts, and maps.
The following volumes are available individually from the Superintendent of Documents, U.S. Government Printing Office, Washington,
D.C. 20402:
STOCK NUMBER

VOLUME
1—Summary
2_New England
3—Mideast
4—Great Lakes
5—Plains
6—Southeast
7—Southwest
8—Rocky Mountain
9—Far West, including Alaska and Hawaii-

-

-

003-010-00080-5
003-010-00081-3
003-010-00082-1
003-010-00083-0
003-010-00084-8
003-010-00085-6
003-010-00086-4
003-010-00087-2
003-010-00088-1

PRICE

-

$6.50
3.25
4.50
5.50
6.00
7.50
5.00
4.50
4.50

For additional information, contact the Regional Economic Information System, Regional Economic Measurement Division, Bureau of
Economic Analysis, Washington, D.C. 20230.




INDEX TO CURRENT
SECTIONS
General:
Business indicators
Commodity prices
Construction and real estate
Domestic trade

1-6
6-8
8,9
9-11

Labor force, employment, and earnings
Finance
Foreign trade of the United States
Transportation and communication

11-15
15-18
18-20
21

Industry:
Chemicals and allied products
Electric power and gas
Food and kindred products; tobacco
Leather and products

22
23
23-26
27

Lumber and products
Metals and manufactures
Petroleum, coal, and products
Pulp, paper, and paper products

27,28
28-31
31,32
32,33

Rubber and rubber products
Stone, clay, and glass products
Textile products
Transportation equipment

33
34
34-36
36

INDIVIDUAL SERIES
Advertising.
Aerospace vehicles
Agricultural loans
Air carrier operations
Air conditioners (room)
Aircraft and parts
Alcohol, denatured and ethyl
Alcoholic beverages
Aluminum
Apparel
Asphalt
Automobiles, etc

9,14
36
15
21
31
5,36
22
9,23
29
2-7,9-13,35,36
31,32
2-7,9,10,17,19,20,36

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

15
24
30
25
7,9,19, 20,23
4,5
17,18
29
34
2-5,9
9
8
6
3,4
23

Cattle and calves
25
Cement and concrete products
7,9,34
Cereal and bakery products
7
Chain-store sales, firms with 11 or more stores. . . 10,11
Cheese
:
23
Chemicals
3-5,7,12,13,17,19,20,22
Cigarettes and cigars
26
Clay products
3,4,7,34
Coal
3,7,19,31
Cocoa
20,25
Coffee
20,25
Coke
31
Combustion, atmosphere, heating equipment
30
Communication
1,17,21
Confectionery, sales
25
Construction:
Contracts
8
Costs
9
Employment, unemployment, hours, earnings. . 11-14
Highways and streets
8
Housing starts
8
Materials output indexes
9
New construction put in place
8
Consumer credit
16
Consumer goods output, index
2
Consumer Price Index
6
Copper
29
Corn
24
Cost of living (see Consumer Price Index)
6
Cotton, raw and manufactures
6,19,34,35
Cottonseed oil
26
Credit, short- and intermediate-term
16
Crops
6,24,26,34
Crude oil.
3,31
Currency in circulation
17
Dairy products
Debt, U.S. Government
Deflator, PCE
Department stores, sales, inventories
Deposits, bank
Dishwashers
Disposition of personal income
Disputes, industrial
Distilled spirits
Dividend payments
Drugstores, sales




6,7,23,24
16
2
10,11
15,17
31
2
15
23
2,17
10,11

STATISTICS, Pages S1-S40

Earnings, weekly and hourly
13,14
Eating and drinking places
10,11
Eggs and poultry
6,7,25
Electric power
3,7,23
Electrical machinery and equipment
3-5,
7,12,13,17,19,20,30,31
Employee-hours, aggregate, and indexes
13
Employment
11,12
Explosives
22
Exports (see also individual commodities)
1,18,19
Failures, industrial and commercial
6
Farm prices
6,7
Farm wages
14
Fats and oils
7,19,20,26
Federal Government
finance
16
Federal Reserve banks, condition of
15
Federal Reserve member banks
15
Fertilizers
7,22
Fire losses
9
Fish
25
Flooring, hardwood
28
Flour, wheat
25
Food products
2-7,9,12,13,17,19,20,23-26
Foreign trade (see also individual commod.)
18-20
Freight cars (equipment)
36
Fruits and vegetables
6,7
Fuel oil
6,31,32
Fuels
3,6,7,19, 20,31, 32
Furnaces
31
Furniture
3,7,10,12,13
Gas, output, prices, sales, revenues
Gasoline
Glass and products
Glycerin
Gold
Grains and products
Grocery stores
Gypsum and products

3,6,7,23
32
34
22
17
6,7,19,24,25
10,11
7,34

Hardware stores
10
Heating equipment
7,30
Help-wanted advertising index
14
Hides and skins
;
7,27
Highways and streets
8
Hogs
25
Home electronic equipment
7
Home Loan banks, outstanding advances
9
Home mortgages
9
Hosiery
36
Hotels and motor-hotels
21
Hours, average weekly
12,13
Housefurnishings
2,4-6,9,10
Household appliances, radios, and television sets.
2,
7,10,30
Housing starts and permits
8
Imports (see also individual commodities)
1,19,20
Income, personal
2
Income and employment tax receipts
16
Industrial production indexes:
By industry
3
By market grouping
2,3
Installment credit
11,16
Instruments and related products
3,4,12,13
Insurance, life
16
Interest and money rates
15
International transactions of the United States. . .
1
Inventories, manufacturers' and trade
3-5,9,10
Inventory-sales ratios
4
Iron and steel
3,7,9,17,19,20,28,29
Labor advertising index, stoppages, turnover
14,15
Labor force
11
Lamb and mutton
25
Lead
29,30
Leather and products
3,7,12,13,27
Life insurance
16
Livestock
6,7,25
Loans, real estate, agricultural, bank (see also
Consumer credit)
9,15
Lubricants
31,32
Lumber and products
3,7,9,12,13,27,28
Machine tools
30
Machinery
3-5,7,12,13,17,19,20,30
Mail order houses, sales
10
Manufacturers' sales (or shipments), inventories,
orders
4,5
Manufacturing employment, unemployment, production workers, hours, earnings
11-14
Manufacturing production indexes
2,3
Margarine
26
Meat animals and meats
7,19,20,25
Medical care
6
Metals
3-5,7,12,13,17,19,20,28-31
Milk
24
Mining and minerals
1-3,7,11-14,17
Monetary statistics.
17
Money and interest rates
15
Money supply
17
Mortgage applications, loans, rates
9,15,16
Motor carriers
21
Motor vehicles
2-4,6,10,17,19,20,36
National parks, visits
21
Newsprint
20,33

New York Stock Exchange, selected data
18
Nonferrous metals
3,5,7,17,19,20,29,30
Oats
Oils and fats
Orders, new and unfilled, manufacturers'
Outlays, U.S. Government

24
7,19,20,26
5
16

Paint and paint materials
Paper and products and pulp

7,22
3-5,
7,12,13,17,20,32,33
Parity ratio
6
Passenger cars
2-4,6,7,9,10,17,19,20,36
Passports issued
21
Personal consumption expenditures
2
Personal income
2
Personal outlays
2
Petroleum and products... . 3-7,12,13,17,19,20,31,32
Pig iron
28
Plant and equipment expenditures
1
Plastics and resin materials
22
Population
11
Pork
25
Poultry and eggs
6,7,25
Price deflator, implicit (PCE)
2
Prices (see also individual commodities)
6-8
Printing and publishing
3,12,13
Private sector employment, hours, earnings
11-14
Producer Price Indexes
7,8
Profits, corporate
17
Public utilities
1-3,8,17,18,23
Pulp and pulpwood
32
Purchasing power of the dollar
8
Radio and television
2,10,30
Railroads
1,14,18,21,36
Ranges
31
Rayon and acetate
35
Real estate
9,15,16
Receipts, U.S. Government
16
Refrigerators
31
Registrations (new vehicles)
36
Rent (housing)
6
Retail trade
3,4,6,10-14,16
Rice
24
Rubber and products (incl. plastics). 3-5,7,12,13,20,33
2
Saving, personal
Savings and loan assoc., new mortgage loans
9
15
Savings deposits
17
Securities issued
17,18
Security markets
Services
6, 12-14
25
Sheep and lambs
Shoes and other footwear
7,10, 11,27
17
Silver
26
Soybean oil
35
Spindle activity, cotton
Steel (raw) and steel manufactures
20,28,29
28
Steel scrap
17
Stock market customer financing
18
Stock prices, yields, sales, etc
Stone, clay, glass products
3,4,7,12,13, 17,34
20,26
Sugar
22
Sulfur
22
Sulfuric acid
22
Superphosphate

Tea imports
26
Telephone and telegraph carriers
21
Television and radio
2,10,30
Textiles and products.... 3-5,7,12,13,17,19,20,34-36
Tin
30
Tires and inner tubes
7,33
Tobacco and manufactures
3-6,12,13,26
Tractors
30
Trade (retail and wholesale)
3,4,6,9-14
Transit lines, urban
21
Transportation
1,6,12-14,17,18,21
Transportation equipment. . . 2-5,7,12,13,17,19,20,36
Travel
21
Truck trailers
36
Trucks (industrial and other)
30,36
Unemployment and insurance
H» 14
U.S. Government bonds
15-18
U.S. Government
finance
16
U.S. International transactions
1
Utilities
1,3,6,8,17,18,23
Vacuum cleaners
Variety stores
Vegetable oils
Vegetables and fruits
Veterans' unemployment insurance
Wages and salaries
Washers and dryers
Water heaters
Wheat and wheat
flour
Wholesale trade
Wood pulp
Wool and wool manufactures
Zinc.

31
10,11
19,20,26
6,7
14
2,13,14
«J1
«jj
24,25
3,4,6,9,12-14
32
35
30

UNITED STATES
GOVERNMENT PRINTING OFFICE
PUBLIC D O C U M E N T S

DEPARTMENT

W A S H I N G T O N , D.C. 2O4O2
OFFICIAL B U S I N E S S

Subject Guide
January-June Issues of Volume 61 (1981)
"Business Situation" sections and articles are listed below by subject. Title, author, and issue and beginning
page numbers are given. (Each issue contained the "National Income and Product Accounts Tables" and
a discussion of estimates therein.)

NATIONAL
Consumer credit
Consumer Credit 1960-80. Edward I. Steinberg. 2-14.
Consumer Installment Credit. 5-4.
Durable goods
Durable Goods Owned by Consumers in the United States, 1964-79:
Revised Estimates. 4-64.
Fixed capital stock
Fixed Capital Stock in the United States: Revised Estimates. (Fixed
Nonresidential Private and Residential Capital, 1925-79; Government-Owned Fixed Capital, 1959-79.) John C. Musgrave. 2-57.
Government transactions
Federal Sector. 3-6; 5-3.
Fiscal Year 1982 Federal Budget Revisions. Charles A. Waite, Joseph C.
Wakefield. 4-24.
State and Local Government Fiscal Position in 1980. David J. Levin.
2-19.
Input-output

New Structures and Equipment by Using Industries, 1972: Detailed
Estimates and Methodology. (Staff Paper Summary.) Peter E.
Coughlin, Albert J. Walderhaug. 1-40.
Inventories and sales
Manufacturing and Trade Inventories and Sales in Constant Dollars.
1976:I-1980:IV, 2-35; 1980:11-1981:1, 5-53.

Reconciliation and other special tables
Reconciliation of BE A Compensation and BLS Earnings. 2-13; 5-16.
Reconciliation of Net Exports and Balance on Goods and Services.
3-18; 6-7.
Reconciliation of Quarterly Changes in Measures of Prices Paid by
Consumers. 3-18; 5-16.

INTERNATIONAL
Balance of payments
U.S. International Transactions. Fourth Quarter and Year 1980,
Christopher L. Bach, 3-40; First Quarter 1981, Russell C. Krueger,
6-31.
Foreign investment in the United States
Selected Data on the Operations of U.S. Affiliates of Foreign Companies,
1978 and 1979. Ned G. Howenstine. 5-35.
U.S. Business Enterprises Acquired or Established by Foreign Direct
Investors in 1979. International Investment Division. 1-28.
International transactions, measurement in the NIPA's
International Transactions in Measures of the Nation's Production.
Edward F. Denison. 5-17.
Reconciliation and other special tables
Reconciliation of Net Exports and Balance on Goods and Services.
3-18; 6-7.

National income and product accounts (NIPA's)
International Transactions in Measures of the Nation's Production. Travel
Edward F. Denison. 5-17.
International Travel and Passenger Fares, 1980. Joan E. Bolyard. 5-29.
National Income and Product Accounts of the United States: An
Overview. Carol S. Carson, George Jaszi. 2-22.
U.S. investment abroad
Revisions. Fourth Quarter of 1980, 2-1 and 3-6; First Quarter of 1981,
Capital Expenditures by Majority-Owned Foreign Affiliates of U.S.
5-2 and 6-72.
Companies, 1981. Jeffrey H. Lowe. 3-34.
1977 Benchmark Survey of U.S. Direct Investment Abroad. InternaPlant and equipment expenditures
tional Investment Division. 4-29.
Plant and Equipment Expenditures. John T. Woodward. Year 1981,
Trends in the U.S. Direct Investment Position Abroad, 1950-79.
1-24; First and Second Quarters and Second Half of 1981, 3-28;
Obie G. Whichard. 2-39.
Four Quarters of 1981, 6-26.
Pollution abatement and control
Plant and Equipment Expenditures by Business for Pollution Abatement, 1973-80 and Planned 1981. Betsy D. O'Connor, Gary L.
Rutledge. 6-19.
Pollution Abatement and Control Expenditures, 1972-79. Gary L.
Rutledge, Susan L. Trevathan. 3-19.
Profits
Alternative Estimates of Capital Consumption and Profits of Nonfinancial Corporations, 1929-79: Revised Estimates. 4-66.
Corporate Profits. Fourth Quarter 1980, 3-4 and 4-9; First Quarter
1981, 5-1 and 6-6.




REGIONAL
Personal income
County and Metropolitan Area Personal Income. Regional Economic
Measurement Division. 4-41.
State Personal Income. 1-26; 4-38.
Third-Quarter Acceleration in State Personal Income. Robert B.
Bretzfelder, Howard L. Friedenberg. 1-27.