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JUNE 1984
/ VOLUME €4 NUMBER
OP
CONTENTS
THE BUSINESS SITUATION
1
National Income and Product Accounts Tables
Reconciliation and Other Special Tables
5
16
Malcolm Baldrige / Secretary
Sidney L. Jones / Under Secretary
for Economic Affairs
Improved Adjustments for Misreporting of
Tax Return Information Used to Estimate
the National Income and Product Accounts, 1977
17
af Ee0m0niie Analysis
George Jaszi / Director
Plant and Equipment Expenditures,
the Four Quarters of 1984
26
Plant and Equipment Expenditures by Business for
Pollution Abatement, 1983 and Planned 1984
31
ILS. International Transactions, First Quarter 1984
of
Allan EL Young / Deputy Director
Carol S. Carson / Editor-in-Chief,
Survey of Current Business
Manuscript Editor: Dannelet A. Grosvenor
Managing Editor: Patti A. Trujillo
35
The International Investment Position
of the United States in 1983
74
*
Constant-Dollar Inventories, Sales, and
Inventory-Sales Ratios for Manufacturing and Trade
77
Subject Guide
79
CURRENT BUSINESS STATISTICS
General
SI
Industry
U*S.
S19
Footnotes S33
Subject Index (Inside Back Cover)
Staff Contributors to This Issue: Ldrna M. Aldrich, Leo M.
Bernstein, Douglas R. Fox, Russell C. Krueger, J. Steven
Landefeld, John Mon, Robert P. Parker, Kenneth A. Petrick, William J. Russo, Jr., Gary L. Rutledge, Russell B.
Scholl, Eugene P. Seskin
SURVEY OF CURRENT BUSINESS. Published monthly by the Bureau
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the BUSINESS SITUATION
Ecor)NOMIC activity and prices both
increased less in the second quarter
than in the first, according to the
"flash" estimates. Real GNP increased at an annual rate of 5Vz percent, compared with 9l/2 percent in
the first quarter, and the GNP fixedweighted price index increased 3Vfe
percent, compared with 5 percent in
the first quarter (table I).1
The deceleration in real GNP can
be traced to inventories. After a positive $22 billion contribution to the
change in real GNP in the first quarter, inventories contributed negatively to the change in the second.
Total final sales accelerated to
about double the first-quarter rate of
4 percent. The total includes the inventory transactions of the Commodity Credit Corporation (COG). These
transactions, largely reflecting the
transfer of crops to farmers under the
1. 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. Quarter-to-quarter percent changes are annualized. Real, or constant-dollar,
estimates are expressed in 1972 dollars.
The procedures used to prepare the "flash" estimates—that is, estimates prepared 15 days before the
end of the quarter—are the same as those used to prepare the estimates released after the end of the quarter. However, the source data that are available are
limited to only 1 or 2 months of the quarter, and, in
some cases, are preliminary. BEA makes projections of
the missing source data. The major source data that
are available 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
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 and 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.
payment-in-kind (PIK) program, held
down the increase in final sales in the
first (and also the fourth) quarter, but
added to it in the second. Final sales
excluding CCC transactions increased
5 percent in the first quarter and
about 7 percent in the second. (For
quarters in which PIK transactions
are large, this variant of final sales is
more useful in assessing the underlying strength of demand than is total
final sales.) The acceleration was
partly attributable to net exports,
which declined less in the second
quarter than in the first. Final sales
to domestic purchasers (also adjusted
to exclude the CCC) increased only
slightly more than the TVk-percent
rate in the first quarter. As indicated
in the following highlights of secondquarter developments in real GNP,
prices, and personal income, the evidence available in mid-June suggests
that most other major components of
GNP registered changes similar to
those in the first quarter.
• Personal consumption expenditures increased
at about the same
strong rate—6l/2 percent—as in the
first quarter. Durable goods purchases
increased less than in the first quarter, largely reflecting the pattern of
motor vehicle sales. As discussed later
in the "Business Situation," auto
sales changed little after a very
strong increase, but truck sales
strengthened. Purchases of both nondurable goods and services were up
more than in the first quarter. In
nondurables, food increased after a
decline; in services, the pickup was
largely in net foreign travel.
• Nonresidential fixed investment
increased slightly more than the 16percent rate in the first quarter.
Structures again were up strongly;
the second-quarter strength was in
commercial buildings and in public
utilities. Producers' durable equipment, with a widespread increase,
was up more than in the first quarter.
As discussed in the article on the
BEA plant and equipment expenditures survey, the strength of investment in recent quarters and the increase planned for the rest of 1984
are consistent with favorable developments in a number of investment indicators.
• Residential investment increased
less than in the first quarter. In the
first quarter, when residential investment increased 26V2 percent, housing
starts had averaged 1.96 million (seasonally adjusted annual rate). In
April and May, they averaged 1.89
million. Reflecting the pattern of
housing starts, most of the decelera-
Table 1.—GNP and GNP Prices
[Levels at seasonally adjusted annual rates; percent changes at annual rates]
19 83
1984
III
IV
I
II
Current-dollar GNP (billions of dollars):
Level
Percent change from preceding quarter
33622
115
34362
91
35501
13.9
36246
' 87
Real GNP (billions of 1972 dollars):
Level
Percent change from preceding quarter
1 553.4
76
1,572.5
50
1,609.3
97
1,631.6
57
2255
47
2278
4.2
2305
4.9
2325
35
216.44
36
218.53
39
220.60
39
222.15
28
GNP fixed-weighted price index (index, 1972=100):
Level
Percent change from preceding quarter
GNP implicit price deflator (index, 1972=100):
Level
Percent change from preceding quarter
SURVEY OF CURRENT BUSINESS
tion in investment was in singlefamily housing units.
• Inventories accumulated at a substantial rate, but less than in the first
quarter. Accordingly, they contributed negatively to the change in real
GNP; in the first quarter, a step-up in
the rate of accumulation had contributed a positive $22 billion. Motor vehicle inventories—the only part of inventories for which information about
second-quarter developments is reasonably complete—were down sharply. Only fragmentary information is
available about farm inventories; it
appears that accumulation was substantial, but less than the $8% billion
rate in the first quarter. In contrast
to the preceding two quarters, the
transfer of crops to farmers under
PIK—which appears in the national
income and product accounts as farm
inventory accumulation—was small,
because the PIK program was being
phased out. However, other farm inventories increased after 2 years of
runoff. Nonfarm inventories other
than motor vehicles appear to have
registered substantial accumulation,
probably somewhat more than the
$17 ¥2 billion rate in the first quarter.
• For net exports, limited evidence
suggests a decline roughly one-half
the size of the $10 Vk billion first-quarter decline. Both exports and imports
increased in the second quarter, but
the increase in imports was larger.
Imports continued to reflect the U.S.
economic expansion and the strength
of the dollar.
• Government purchases increased
sharply after a $1V2 billion decline in
the first quarter. In the first quarter,
CCC transactions—largely PIK—had
declined $4 billion, more than accounting for the decline in Federal
purchases. In the second quarter,
with the phasing out of PIK, these
transactions accounted for a substantial increase. Other Federal nondefense purchases again changed little,
and defense purchases increased
somewhat more than in the first
quarter. State and local purchases increased moderately in both quarters,
mainly due to increases in purchases
of structures.
• In the GNP fixed-weighted price
index, the deceleration of about ll/z
percentage points was largely due to
food prices. In the first quarter, prices
of the food components of GNP had
increased 11V2 percent; in the second
quarter, the increase was only 1 or 2
percent. The effect of a Federal pay
raise, which had added 0.6 percentage
point to the first-quarter increase in
the GNP price index, accounted for
the rest of the deceleration.
• Personal income increased about
$53 billion, following an extraordinarily large—$91 billion—increase in the
first quarter. The deceleration largely
reflected Federal subsidy payments to
CHART 1
Retail Sales of New Passenger Cars
Million units
12
11
10
7 1 i i ..'»" I \\\"'..1 ...i i i I t i
June 1984
farmers. These subsidies, primarily
under the PIK program, had added
$10 % billion to the change in farm
proprietors' income in the first quarter; their winding down subtracted
about twice that much in the second.
The remaining major components of
personal income registered increases
about in line with those in the first
quarter: Personal interest income and
transfer payments were up a little
more; wage and salary disbursements
and nonfarm proprietors' income
were up a little less. Personal contributions for social insurance, which
are subtracted in deriving the personal income total, increased less than in
the first quarter, when they had been
boosted by several legislated changes
in social security.
The deceleration in personal
income carried through to disposable
income; personal taxes were up about
the same in both quarters. Despite a
slowing in price increases, real disposable income increased only about onehalf as much as the 10-percent rate in
the first quarter. The increase in personal outlays exceeded that in disposable income, so personal saving declined. The saving rate fell about onehalf percentage point from 5.9 percent in the first quarter.
LARGE; DOMESTIC ;C&RS
o r V i i t I T t .I i \ t I i r i i i
rjSMALL DOMiSTtC- €Af&:AMD IMPORTED £ARS
1980
1981
1982
1983
1984
Seasonally Adjusted at Annual Rates
NOTE.—Data for the most recent quarter are projected.
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
84-6-1
Motor vehicles
Real motor vehicle output declined
about $6 Ms billion in the second quarter, following a $5x/2 billion increase
in the first. The swing was more than
accounted for by auto output. Sales of
autos changed little after a very
strong increase in the first quarter,
and inventories fell after an increase.
Truck output was up strongly for the
sixth consecutive quarter. Sales increased considerably more than in the
first quarter; inventories increased
less than in the first quarter.
Unit sales of new cars steadied at
about 10.6 million (seasonally adjusted annual rate) in the second quarter,
following sharp increases in the preceding two quarters (chart 1). The
slowing growth in disposable income,
increases in interest rates on consumer loans, and shortages in supplies of some models contributed to
the flattening of sales.
Sales of imported cars declined
slightly to about 2.2 million from 2.3
million in the first quarter, and their
market share slipped to 21 percent
SURVEY OF CURRENT BUSINESS
June 1984
Table 2.—Revisions in Selected Component Series of the NIPA's, First Quarter of 1984
Seasonally adjusted at annual
rates
45-day
estimate
75-day
estimate
Revision
Percent change
from preceding
quarter at
annual rates
45-day
estimate
75-day
estimate
Billions of current dollars
GNP
Personal consumption expenditures
Nonresidential fixed investment
Residential investment
Change in business inventories
Net exports
Government purchases
..
..
National income
Compensation of employees
Corporate profits with inventory valuation and capital consumption
adjustments
Other
..
Personal income
....
3,541.6
3,550.1
8.5
12.8
13.9
2,287.8
384.4
147.3
69.3
-54.6
707.5
2,286.2
385.7
147.8
71.0
-48.2
707.6
-1.6
1.3
.5
1.7
6.4
.1
10.6
11.5
26.7
10.3
13.1
28.6
4.9
5.0
2,878.4
2,883.3
4.9
16.2
17.0
2,113.4
2,113.4
0
11.5
11.5
277.5
487.5
281.6
488.2
4.1
.7
14.7
40.7
21.6
41.6
2,925.4
2,926.2
.8
13.3
13.5
Billions of constant (1972) dollars
GNP
Personal consumption expenditures
Nonresidential fixed investment
Residential investment
Change in business inventories
Net exports
Government purchases
1,606.0
1,609.3
3.3
8.8
9.7
1,049.6
187.0
59.1
30.1
-10.3
290.7
1,048.3
187.6
59.2
30.7
-7.5
291.0
-1.3
.6
.1
.6
2.8
.3
6.9
14.6
25.7
6.4
16.1
26.3
-2.2
-1.7
Index numbers, 1972 =100!
GNP implicit price deflator
GNP fixed-weighted price index
GNP chain price index
220.52
230.4
220.60
230.5
.08
.1
3.7
4.8
4.6
3.9
4.9
4.7
1. Not at annual rates.
NOTE.—For the first quarter of 1984, 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 February, and consumption of
electricity for March; for nonresidential fixed investment, revised manufacturers' shipments of equipment for March, revised
construction put in place for March, and business share of new car purchases for February; for residential investment, revised
construction put in place for March, and residential alterations and repairs for the quarter; for change in business inventories,
revised book values for manufacturing and trade for March; for net exports of goods and services, revised merchandise trade for
the quarter, and revised service receipts for the quarter; for government purchases of goods and services, revised construction put
in place for March; for wages and salaries, revised employment, average hourly earnings, and average weekly hours for March;
for net interest, financial assets held by households for the quarter, and revised net interest received from abroad for the quarter;
for corporate profits, revised domestic book profits for the quarter, and revised profits from the rest of the world for the quarter;
and for GNP prices, revised residential housing prices for the quarter.
from 22 percent. A weakness in Japanese car sales in the beginning of the
quarter probably reflected supply
shortages; several manufacturers had
reduce^ shipments to the United
States to comply with the March 31
cutoff of the voluntary quota agreement.
Sales of domestic cars increased
slightly to about 8.3 million from 8.2
million in the first quarter. A step-up
in subcompact car sales more than accounted for the increase. Compact car
and intermediate car sales changed
little, and full-size and luxury car
sales declined slightly. Sales of some
domestic models may have been constrained by shortages, particularly
toward the end of the quarter.
Domestic car production dropped to
7.2 million (seasonally adjusted
annual rate) in the second quarter
from 8.9 million in the first. Part of
the drop was due to shutdowns of
three assembly plants that had been
producing rear-wheel drive cars. After
extensive remodeling and retooling,
two of these plants will produce frontwheel drive cars, and the third will
produce small vans.
Domestic car inventories fell sharply to 1.43 million (seasonally adjusted)
in May from 1.61 million in March,
and a further reduction appears
likely in June. The ratio of inventories to sales fell from 2.3 in the first
quarter to below 2.0, the ratio generally considered desirable by the industry. Further, supplies of some individual models are much tighter. Shortages probably will persist well into
the third quarter.
Unit sales of new trucks increased
to about 4.2 million (seasonally adjusted annual rate) from 3.8 million in
the first quarter. Both consumer and
business purchases
strengthened.
Sales of light domestic trucks increased strongly to about 3.4 million
in the second quarter, their highest
level in more than 5 years. Sales of
"other" domestic trucks were up
sharply to about 0.29 million. Imported truck sales changed little from 0.55
million in the first quarter. Despite
another substantial increase in production, inventories declined in the
second quarter.
First-quarter corporate profits
Profits from current production—
profits with inventory valuation and
capital consumption adjustments—increased $13% billion in the first quarter, to $281 % billion, following a $20
billion increase in the fourth quarter.
The first-quarter estimate is $4 billion
higher than the preliminary one published a month ago. Domestic profits
of nonfinancial corporations and the
foreign component of profits were
both revised up $2% billion; domestic
profits of financial corporations were
revised down by $% billion.
Domestic profits of nonfinancial
corporations contributed most of the
first-quarter increase in profits of domestic corporations, accounting for
$12% billion out of the $13 billion increase. The increase in nonfinancial
profits resulted from increases in both
constant-dollar output and in unit
profits. The latter, in turn, was due to
larger increases in unit prices than in
unit costs.
Profits before tax—profits without
inventory valuation adjustment (IVA)
and capital consumption adjustment
(CCAdj)—increased $16 billion in the
first quarter, to $244% billion. This
increase exceeded the increase in
profits from current production by
$2% billion, because the changes in
the two adjustments reduce the latter
by that amount (see accompanying
tabulation). In contrast, in the fourth
quarter, when the sum of the changes
in the two adjustments had been
$20% billion, profits before tax had
declined slightly, while profits from
current production had increased $20
billion.
[Change from preceding quarter; billions of dollars]
1984
1983
II
Adjustments
IVA
CCAdj
III
IV
I
28
4.3
20.6
-2.6
89
77
120
62
11.7
12.0
8.6
3.6
June 1984
SURVEY OF CURRENT BUSINESS
The adjustments convert the costs recovery and expansion raised profits
of inventories and depreciation re- and thus tax liability, ERTA helped
ported by businesses into those used keep the tax liability lower than it
in the national income and product would have been under previous tax
accounts. The IVA declined from — $6 laws.
Profits by industry.—Profits with
billion to — $12 Vk billion in the first
quarter, reflecting larger increases in the IVA but without the CCAdj—the
inventory prices in the first quarter variant of profits available by industhan in the fourth. An increase of try—increased $10 billion in the first
$3V2 billion in the CCAdj was largely quarter, following an $11 billion indue to provisions of the Economic Re- crease in the fourth. While profits of
covery Tax Act (ERTA) that allowed domestic financial industries were up
the use of shorter service lives for the only slightly, those of domestic nonfinancial industries increased $9 bildepreciation of capital.
Disposition of profits before tax.— lion, following an increase of $14 bilCorporate profits tax liability in- lion. Manufacturing profits accounted
creased $7V2 billion following an in- for nearly one-half of the first-quarter
crease of $V2 billion. Dividends were increase in nonfinancial industries'
up $2 billion and undistributed prof- profits. A decline in profits of nondurits, $6V2 billion. Compared with year- able goods manufacturers partly
earlier levels, tax liability was up 51 offset widespread increases in profits
percent, dividends were up 9x/2 per- of durable goods manufacturers.
cent, and undistributed profits were Within durables, motor vehicles acup 100 percent. Although economic counted for more than one-half the
gains. Within nondurables, a decline
in profits of manufacturers of petroleum products more than accounted for
the decline in total profits.
Trade profits increased $1 billion,
following a $3V2 billion increase; both
wholesale and retail trade profits registered increases. Within retail trade,
declines in profits of food stores and
auto dealers were more than offset by
increases in profits of general merchandisers and other retailers. Transportation profits were up, primarily
because airlines continued to cut
their losses.
First-quarter NIPA revisions
The 75-day revisions of the national
income and product accounts estimates for the first quarter of 1984 are
shown in table 2.
NOTE.—Revised estimates of the national income and
product accounts for the last 3 years will be presented in
the July issue of the SURVEY OF CURRENT BUSINESS. These
estimates will incorporate new source data and updated
seasonal adjustment factors.
SURVEY OF CURRENT BUSINESS
June 1984
National Income and Product Accounts Tables
New estimates in this issue: First quarter 1984, revised.
The abbreviations used in the tables are: CCAdj Capital consumption adjustment
IVA
Inventory valuation adjustment
NIPA's National income and product accounts
Preliminary
p
Revised
The NIPA estimates for 1929-76 are in The National Income and Product Accounts of the United States, 1929-76: Statistical Tables (Stock
No. 003-010-00101-1, price $10.00). Estimates for 1977-79 and corrections for earlier years are in the July 1982 SURVEY; estimates for 1980-82
and corrections for earlier years are in the July 1983 SURVEY. Summary NIPA Series, 1950-82, are in the October 1983 SURVEY. These publications are available from the Superintendent of Documents and Commerce Department District Offices; see addresses inside front cover.
Table 1.1-1.2.—Gross National Product in Current and Constant Dollars
Billions of dollars
Billions of 1972 dollars
Seasonally adjusted at annual rates
1982
1983
1982
IV
1983
I
III
II
Seasonally adjusted at annual rates
1984
IV
1982
1983
1982
lr
I
1,490.1
in
II
Gross national product
3,073.0 3,310.5
3,109.6 3,171.5
3,272.0 3,362.2 3,436.2 3,550.1
1,485.4 1,535.3
1,480.7
Personal consumption expenditures
1,991.9 2,158.0
2,046.9 2,073.0 2,147.0 2,181.1 2,230.9 2,286.2
970.2 1,011.4
979.6
986,7 1,010.6
156.3
376.1
479.0
143.2
366.0
470.4
145.8
368.9
472.0
Durable goods
Nondurable goods
Services
252.1
244.5
279.4
277.7
258.5
298.6
315.1
282.8
804.1
761.0
773.0
777.1
799.6
825.0
843.2
814.8
986.4 1,074.5 1,021.8 1,037.4 1,069.7 1,083.5 1,107.3 1,127.9
Gross private domestic investment
Fixed investment
Nonresidential
Structures
,
Producers' durable equipment
Residential
•
Nonfarm structures
Farm structures
Producers' durable equipment
Change in business inventories
Nonfarm
Farm
Net exports of goods and services
Exports
Imports
.
Government purchases of goods and services
Federal
National defense
Nondefense
State and local
139.8
364.2
466.2
1984
1983
IV
1,525.1 1,553.4
IV
lr
1,572.5
1,609.3
1,016.0 1,032.2 1,048.3
156.5
374.7
479.4
157.9
378.1
480.1
165.2
382.5
484.4
174.0
387.3
486.9
414.5
471.9
377.4
404.1
450.1
501.1
532.5
604.6
194.5
219.0
178.4
190.0
210.0
230.7
245.2
277.4
439.1
348.3
141.9
206.4
90.8
86.0
1.5
3.2
-24.5
-23.1
-1.4
478.4
348.4
131.1
217.2
130.0
124.9
1.5
3.6
-6.4
28
-3.7
433.8
337.0
138.6
198.4
96.8
91.2
2.3
3.3
-56.4
537
-2.7
443.5
332.1
132.9
199.3
111.3
106.7
1.3
3.4
-39.4
-39.0
-.4
464.6
336.3
127.4
208.8128.4
123.3
1.5
3.5
-14.5
-10.3
-4.2
492.5
351.0
130.9
220.2
141.5
136.3
1.6
3.6
8.5
18.4
-9.9
512.8
374.0
133.3
240.7
138.8
133.5
1.6
3.7
19.6
19.7
-.1
533.5
385.7
140.1
245.6
147.8
142.6
1.4
3.8
71.0
50.1
21.0
203.9
166.1
53.4
112.7
37.8
35.2
.6
1.9
94
-8.6
g
221.1
168.4
49.7
118.8
52.7
50.0
.6
2.1
2l
-.2
-1.9
201.1
160.5
52.2
108.3
40.6
37.8
.9
1.9
-22.7
-21.1
-1.6
205.4
159.9
50.3
109.6
45.5
43.0
.5
2.0
-15.4
-15.1
-.3
215.6
163.0
48.3
114.7
52.6
50.0
.6
2.1
-5.4
-3.3
-2.1
227.0
170.1
49.6
120.5
56.8
54.1
.6
2.1
3.8
8.8
-5.0
236.5
180.7
50.4
130.3
55.8
53.1
.6
2.1
8.7
8.8
-.1
246.7
187.6
53.3
134.3
59.2
56.4
.5
2.2
30.7
22.2
8.5
17.4
-9.0
5.6
17.0
-8.5
482
28.9
11.8
23.0
20.5
12.3
11.4
2.8
7.5
347.6
330.2
335.4
344.4
321.6
316.1
326.9
309.9
327.1
335.6
341.1
359.4
346.5
372.6
358.8
407.0
147.3
118.4
138.7
126.9
136.5
113.5
137.3
116.8
136.2
123.9
140.7
129.2
140.6
137.8
144.4
151.9
649.2
689.5
679.7
677.4
683.4
698.3
699.0
707.6
291.8
293.1
299.7
292.9
292.1
295.2
292.3
291.0
258.7
179.4
79.3
390.5
274.8
200.3
74.5
414.7
279.2
190.8
88.5
400.5
273.5
194.4
79.1
404.0
273.7
199.4
74.3
409.7
278.1
201.2
76.9
420.2
274.1
206.3
67.8
424.9
271.9
212.7
59.2
435.7
116.6
78.8
37.8
175.2
117.8
84.3
33.6
175.3
124.4
81.4
43.0
175.2
118.4
82.7
35.7
174.5
117.6
84.2
33.4
174.5
118.9
84.2
34.7
176.3
116.4
85.8
30.5
175.9
113.8
87.1
26.6
177.2
-18.3
-26.1
Table 1.3-1.4.—Gross National Product by Major T^pe of Product in Current and Constant Dollars
Billions of dollars
Billions of 1972 dollars
Seasonally adjusted at annual rates
1982
1983
IV
Gross national product
Final sales
Change in business inventories
Goods
Final sales
Change in business inventories
Durable goods
Final sales....
Change in business inventories
Nondurable goods
Final sales
Change in business inventories
3,073.0 3,310.5
1983
1982
I
II
Seasonally adjusted at annual rates
1984
III
IV
1982
1983
lr
IV
I
II
III
3,109.6 3,171.5 3,272.0 3,362.2
3,436.2 3,550.1
1,485.4 1,535.3 1,480.7
1,490.1
1,525.1 1,553.4
3,097.5 3,316.9 3,165.9 3,210.9 3,286.6 3,353.7
245
64
564 -39.4
-14.5
8.5
3,416.6 3,479.1
19.6
71.0
1,494.8 1,537.4 1,503.4
-9.4
-2.1
-22.7
1,505.5
-15.4
1,530.5
-5.4
1,208.9
1,438.1 1,498.3
661.6
688.6
652.1
656.9
681.8
1,418.5
19.6
1,427.3
71.0
671.0
-9.4
690.7
-2.1
674.8
-22.7
672.3
-15.4
687.2
-5.4
606.4
588.1
18.3
831.8
830.4
1.4
617.3
594.6
22.7
881.0
832.7
48.3
269.6
276.1
-6.5
392.0
394.9
-2.9
291.4
292.7
-1.3
397.3
398.0
-.8
256.4
275.3
-18.9
395.6
399.4
-3.8
261.3
277.0
-15.7
395.6
395.2
.3
712.2
111.6
724.5
122.2
715.0
113.6
717.8
115.4
1,366.5
1,305.4 1,373.0
245
64
500.8
516.3
-15.5
780.1
789.1
-9.1
548.7
552.6
-3.9
817.8
820.3
-2.5
1,264.8 1,292.2 1,346.8
1,388.9
1,321.2 1,331.6 1,361.3 1,380.4
564 -39.4
-14.5
8.5
474.0
519.0
-45.0
790.8
802.2
-11.4
482.7
520.9
-38.2
809.5
810.6
-1.2
536.8
545.7
-8.9
810.0
815.7
-5.7
568.9
555.9
13.1
820.0
824.5
-4.5
Services
Structures
1,511.1 1,635.6 1,560.5 1,588.4 1,623.4 1,651.0
281.0
308.4
290.9
301.9
284.3
322.3
1,679.6 1,715.7
318.5
336.2
Addenda:
Gross domestic purchases l
Final sales to domestic purchasers l
3,055.6 3,319.5 3,104.0 3,154.6 3,280.5 3,380.5
3,080.1 3,325.9 3,160.4 3,193.9 3,295.0 3,371.9
3,462.3 3,598.4
3,442.7 3,527.3
IV
lr
1,572.5
1,609.3
1,549.7 1,563.7
8.7
3.8
1,578.6
30.7
699.0
716.8
742.7
695.3
3.8
708.0
8.7
712.0
30.7
287.4
291.1
-3.7
394.5
396.1
-1.7
299.9
294.1
5.8
399.2
401.2
-2.0
316.9
308.4
8.5
399.9
399.6
.3
323.5
313.8
9.7
419.2
398.2
21.0
723.0
120.3
727.0
127.3
730.0
125.7
734.3
132.3
1,456.5 1,523.5 1,457.7 1,469.6 1,512.8 1,542.0 1,569.7 1,616.8
1,465.9 1,525.6 1,480.4 1,485.0 1,518.3 1,538.2 1,561.0 1,586.1
1. Gross domestic purchases equals GNP less exports plus imports; final sales to domestic purchasers equals final sales less exports plus imports.
1984
1983
1982
6
SURVEY OF CURRENT BUSINESS
June 1984
Table 1.5-1.6.—Gross National Product by Sector in Current and Constant Dollars
Billions of 1972 dollars
Billions of dollars
Seasonally adjusted at annual rates
Seasonally adjusted at annual rates
1982
1983
1982
I
IV
II
m
3,073.0 3,310.5 3,109.6 3,171.5 3,272.0 3,362.2 3,436.2 3,550.1
Gross national product
Gross domestic product
Business
Nonfarm
Nonfarm 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
....
3,025.7
2,594.6
2,520.0
2,252.6
267.4
74.1
.5
107.0
7.6
99.4
324.1
101.1
223.0
47.3
3,264.8
2,803.3
2,734.7
2,441.9
292.8
70.8
-2.3
114.9
8.2
106.7
346.6
106.1
240.5
45.7
3,063.5
2,619.1
2,539.1
2,261.0
278.1
75.8
4.2
110.8
7.8
102.9
333.7
104.2
229.5
46.0
3,127.2
2,675.5
2,601.8
2,317.9
284.0
74.9
-1.2
112.2
8.0
104.2
339.5
105.6
233.8
44.3
3,227.9
2,769.8
2,700.5
2,411.0
289.6
72.7
-3.5
114.1
8.1
106.0
344.1
106.0
238.1
44.1
3,314.1
2,849.8
2,779.0
2,483.3
295.7
68.3
2.5
115.6
8.2
107.4
348.8
106.2
242.6
48.1
3,389.9
2,918.3
2,857.5
2,555.4
302.1
67.4
-6.8
117.8
8.4
109.4
353.9
106.6
247.2
46.3
1982
1983
Equals: Net national product
Less:
Indirect business tax and
nontax liability
Business transfer payments
Statistical discrepancy
Plus: Subsidies less current
surplus of government
enterprises
,
Equals: National income
Less:
Corporate profits with
IVA and CCAdj
Net interest
Contributions for social
insurance
Wage accruals less disbursements
,
Plus:
Government transfer payments to persons
,
Personal interest income....
Personal dividend income .
Business transfer payments
Equals: Personal income
1984
IV
III
II
1,485.4
1,535.3 1,480.7 1,490.1 1,525.1
1,553.4
1,572.5 1,609.3
1,462.3
1,259.6
1,220.4
1,078.3
142.1
39.0
.2
46.7
3.3
43.4
156.1
50.5
105.6
23.1
1,514.0
1,310.4
1,274.7
1,127.0
147.7
36.8
-1.1
47.5
3.5
44.0
156.1
50.8
105.2
21.3
1,504.4
1,301.2
1,265.1
1,118.2
146.9
37.7
-1.6
47.3
3.4
43.9
156.0
50.8
105.1
20.7
1,531.1
1,327.5
1,290.9
1,142.6
148.3
35.5
1.1
47.6
3.5
44.1
156.0
50.8
105.2
22.3
1,551.2
1,346.9
1,315.2
1,165.4
149.8
34.9
-3.2
48.0
3.5
44.4
156.3
50.8
105.4
21.3
1,469.2
1,266.1
1,227.5
1,081.9
145.6
39.2
-.6
47.1
3.4
43.7
155.9
50.8
105.1
21.0
1,458.6
1,255.9
1,213.2
1,068.9
144.3
40.6
2.0
46.9
3.3
43.5
155.8
50.7
105.1
22.1
1,588.1
1,383.9
1,349.0
1,197.7
151.4
38.3
-3.5
47.9
3.6
44.4
156.3
50.9
105.5
21.2
Table 1.11.—National Income by Type of Income
Billions of dollars
Billions of dollars
Seasonally adjusted at annual rates
1982
1984
1983
II
I
lr
1,116.2
m
IV
1982
1983
lr
1982
IV
3,073.0 3,310.5 3,109.6 3,171.5 3,272.0 3,362.2 3,436.2 3,550.1
359.2
377.3
368.3
370.8
373.3
381.7
383.2
388.8
312.6
-46.6
367.8
-9.5
329.5
-38.8
341.8
-29.1
359.0
-14.3
378.5
-3.2
391.8
8.6
402.0
13.3
2,713.8 2,933.2 2,741.3 2,800.7 2,898.7 2,980.5 3,053.0 3,161.4
258.3
285.9
264.8
270.6
285.8
291.1
296.0
301.2
14.1
.5
15.5
-2.3
14.7
4.2
15.0
-1.2
15.3
-3.5
15.7
2.5
16.1
-6.7
16.6
-7.5
9.5
16.1
16.6
12.3
11.8
15.8
24.6
32.1
2,450.4 2,650.2 2,474.0 2,528.5 2,612.8 2,686.9 2,772.4 2,883.3
164.8
261.1
229.1
247.5
161.9
254.7
181.8
248.3
218.2
243.8
248.4
246.1
268.2
251.9
281.6
262.0
253.0
272.3
255.4
265.4
270.1
274.4
279.2
296.6
.2
0
-.4
0
0
-1.3
-.4
0
260.4
366.2
66.4
388.1
366.3
70.5
384.3
363.1
67.9
383.6
357.2
68.8
390.0
357.1
69.3
386.8
369.9
70.9
392.0
381.1
72.9
395.3
396.3
75.1
14.1
15.5
14.7
15.0
15.3
15.7
16.1
16.6
2,578.6 2,742.1 2,632.0 2,657.7 2,713.6 2,761.9 2,835.2 2,926.2
Table 1.8.—Relation of Gross National Product, Net National Product,
and National Income in Constant Dollars
[Billions of 1972 dollars]
1,485.4 1,535.3 1,480.7 1,490.1 1,525.1 1,553.4 1,572.5 1,609.3
Gross national product
Less: Capital consumption
173.7
171.6
165.5 166.3 167.8 170.7
162.5 169.1
allowances with CCAdj
Equals: Net national prod1,322.9 1,366.2 1,315.2 1,323.9 1,357.3 1,382.7 1,400.9 1,435.6
uct
Less: Indirect business tax
and nontax liability plus
business transfer payments less subsidies plus
current surplus of govern157.7
160.9
1473 1538 146.9
150.3 152.8 154.4
ment enterprises
-3.2
-3.5
-1.6
1.1
2.0
-.6
.2
-1.1
Statistical discrepancy....
1,175.4 1,213.4 1,166.2 1,174.2 1,206.1 1,227.1 1,246.3 1,278.2
Equals: National income
I
IV
Seasonally adjusted at annual rates
IV
Less:
Capital consumption allowances with CCAdj...
Capital consumption allowances
Less: CCAdj
3,503.5
3,022.3
2,948.6
2,640.5
308.1
81.3
7.5
118.4
8.5
109.9
362.8
110.4
252.3
46.6
2,318.4
Table 1.7.—Relation of Gross National Product, Net National Product,
National Income, and Personal Income
Gross national product
lr
IV
1983
1982
1983
1982
1984
1983
National income
1984
1983
I
II
m
rv
lr
2,450.4 2,650.2 2,474.0 2,528.5 2,612.8 2,686.9 2,772.4 2,883.3
Compensation of employ1,865.7 1,990.2 1,889.0 1,923.7 1,968.7 2,011.8 2,056.6 2,113.4
ees
Wages and salaries
1,568.1 1,664.1 1,586.0 1,610.6 1,647.1 1,681.5 1,717.3 1,756.6
Government and government enterprises .... 306.0 325.7 314.5 319.2 323.3 328.4 332.1 339.4
Other
1,262.1 1,338.4 1,271.5 1,291.5 1,323.8 1,353.1 1,385.2 1,417.2
Supplements to wages
321.6 330.3 339.4 356.8
and salaries
297.6 326.1 302.9 313.1
Employer contributions for social in153.9
167.9
151.5
156.7
surance
140.9
152.7
142.5 148.8
176.4
189.0
182.7
156.6
173.4
Other labor income
160.4
164.3 170.1
Proprietors' income with
IVA and CCAdj
Farm
Proprietors' income
with IVA
CCAdj
Nonfarm
Proprietors' income
IVA
CCAdj
109.0
21.5
128.5
20.9
116.2
26.0
120.6
22.2
127.2
21.0
126.7
15.5
139.4
25.0
169.3
47.9
29.9
-8.4
87.4
84.2
-.6
3.9
29.3
-8.4
107.6
97.3
-.8
11.1
34.6
-8.6
90.2
86.0
-.8
4.9
30.6
-8.4
98.4
91.0
-.2
7.6
29.4
-8.4
106.2
96.8
-1.1
10.5
23.9
-8.4
111.2
100.6
-1.5
12.2
33.2
-8.3
114.5
100.9
-.6
14.1
56.1
82
121.4
106.9
-1.1
15.6
49.9
54.8
52.3
54.1
54.8
53.9
56.2
57.0
86.3
-36.5
93.2
385
87.4
-35.2
91.6
-37.5
92.2
37 4
94.0
400
95.1
-38.8
96.2
393
164.8
229.1
161.9
181.8
218.2
248.4
268.2
281.6
165.9
174.2
59.2
115.1
68.7
198.3
207.5
76.9
130.6
73.3
157.2
167.5
54.0
113.5
70.4
168.0
169.7
61.5
108.2
71.4
192.7
203.3
76.0
127.2
72.0
210.8
229.1
84.9
144.1
73.7
222.0
228.2
85.3
142.9
75.9
231.8
244.3
92.7
151.6
78.2
46.4
-8.4
-1.1
57.3
-9.2
30.8
43.1
-10.3
4.7
36.7
-1.7
13.9
55.2
-10.6
25.6
70.4
-18.3
37.6
67.0
-6.3
46.2
73.4
-12.5
49.8
Net interest.
261.1
247.5
254.7
248.3
243.8
246.1
251.9
262.0
Addenda:
Corporate profits after
tax with IVA and
CCAdj
Dividends
Undistributed
profits
with IVA and CCAdj
105.6
68.7
152.2
73.3
107.9
70.4
120.3
71.4
142.2
72.0
163.4
73.7
182.9
75.9
188.9
78.2
37.0
78.9
37.5
48.9
70.1
89.7
107.0
110.7
Rental income of persons
with CCAdj ..
Rental income of persons
CCAdj
Corporate profits with IVA
and CCAdj
Corporate profits with
IVA
Profits before tax
Profits tax liability ..
Profits after tax
Dividends
Undistributed
profits
IVA
CCAdj
SURVEY OF CURRENT BUSINESS
June 1984
Table 1.13.—Gross Domestic Product of Corporate Business in Current Dollars and Gross Domestic Product of Nonfmancial Corporate
Business in Current and Constant Dollars
1982
1983
Billions of dollars
Billions of dollars
Seasonally adjusted at annual rates
Seasonally adjusted at annual rates
1982
Gross domestic product of corporate
business
Capital consumption allowances with CCAdj
Net domestic product
Indirect business tax and
nontax liability plus
business transfer payments less subsidies
1984
1983
IV
I
III
II
231.6
227.7
229.8
228.3
233.1
235.2
187.6
206.9
191.4
207.3
195.6
211.0
238.5
213.7
216.4
Domestic income
1,487.5 1,626.0 1,484.0 1,530.3 1,599.4 1,658.4 1,715.8 1,772.7
Compensation of employees
1,282.2 1,363.5 1,289.2 1,313.6 1,347.6 1,379.1 1,413.5 1,455.2
Wages and salaries
1,065.8 1,126.3 1,070.3 1,086.9 1,114.1 1,138.5 1,165.7 1,193.3
Supplements
to
wages and salaries ... 216.4 237.1 218.9 226.7 233.5 240.5 247.9 261.8
Corporate profits with
197.7 225.0 246.5 259.5 1
IVA and CCAdj
143.0 207.7
137.8 161.6
Profits before tax
Profits tax liability ..
Profits after tax
Dividends
Undistributed
P
IVA
CCAdj
Net interest
Gross
domestic
product of financial
corporate
business
Gross
domestic
product of nonfinancial
corporate business
Capital consumption allowances with CCAdj .
152.4
59.2
93.2
54.4
186.1
76.9
109.2
61.8
143.4
54.0
89.4
56.7
149.5
61.5
88.0
60.6
182.8
76.0
106.7
62.9
205.7
84.9
120.7
62.3
206.5
85.3
121.2
61.3
222.2
92.7
129.5
63.5
38.8
-8.4
11
62.3
47.4
-9.2
30.8
54.8
32.6
-10.3
4.7
57.1
27.4
-1.7
13.9
55.1
43.9
-10.6
25.6
54.0
58.4
-18.3
37.6
54.3
59.9
63
46.2
55.8
65.9
-12.5
49.8
58.1
Profits before tax
Profits tax liability ..
Profits after tax
Dividends
Undistributed
profits
IVA..:....
CCAdj
Net interest
Gross domestic product of nonfinancial
corporate business..
149.4
1,776.7 1,921.7 1,775.0 1,817.6 1,892.4 1,957.8 2,019.0 2,078.3
Net domestic product
Indirect business tax and
nontax liability plus
business transfer payments less subsidies
Domestic income
210.0
142.8
218.2
128.2
144.1
136.5
215.1
215.3
144.7
145.7
219.6
216.7
224.1
221.3
lr
IV
III
II
1,675.7 1,738.2 1,797.7 1,854.1
197.6 201.1 203.7 206.1
1,478.1 1,537.1 1,594.1 1,648.0
1,253.9 1,283.7 1,316.4 1,355.2
1,037.2 1,060.4 1,086.2 1,112.0
216.7
223.3
230.2
243.2
165.7
194.5
217.2
229.8
131.5
41.2
90.3
57.2
154.6
56.2
98.4
64.5
117.9
33.6
84.4
59.2
119.7
41.8
77.9
63.3
149.0
55.0
94.0
65.6
173.8
63.9
109.8
65.1
176.9
64.2
111.7
64.0
191.0
71.4
119.6
66.1
33.1
-8.4
.8
65.2
33.9
-9.2
32.4
59.4
25.1
-10.3
6.7
61.9
14.5
-1.7
15.9
59.7
28.4
-10.6
27.3
58.6
44.8
18.3
39.0
58.9
47.7
6.3
47.6
60.5
53.5
-12.5
51.3
62.9
909.4
929.7
952.1
Billions of 1972 dollars
Capital consumption allowances with CCAdj
120.4
I
1,566.8 1,703.5 1,559.8 1,602.3
Net domestic product
Indirect business tax and
nontax liability plus
business transfer pay186.4
179.0 197.2 182.4
ments less subsidies
1,387.8 1,506.3 1,377.4 1,415.9
Domestic income
Compensation of employees
1,198.6 1,269.1 1,201.2 1,222.4
997.3 1,048.9 998.2 1,012.0
Wages and salaries
Supplements
to
wages and salaries ... 201.3 220.1 203.0 210.4
Corporate profits with
177.8 114.3 133.9
124.0
IVA and CCAdj
1,675.1 1,832.9 1,675.4 1,725.9 1,806.7 1,869.4 1,929.5 1,989.1
1984
1983
1982
IV
1,897.1 2,064.5 1,903.2 1,954.2 2,036.5 2,102.5 2,164.7 2,227.7
222.0
1983
1982
lr
IV
895.2
857.7
846.4
856.0
885.8
96.8
100.4
98.2
98.9
99.8
101.1
101.9
103.1
760.9
794.8
748.2
757.2
786.0
808.3
827.8
849.0
94.2
666.6
98.7
696.1
93.9
654.3
96.4
660.8
97.5
688.4
99.1
709.2
101.7
726.1
104.2
744.8
Table 1.14-1.15.—Auto Output in Current and Constant Dollars
Billions of 1972 dollars
Billions of dollars
Seasonally adjusted at annual rates
Seasonally adjusted at annual rates
1982
1983
1982
1983
IV
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:
1
Domestic output of new autos
Sales of imported new autos 2.
I
II
1982
1984
III
IV
lr
1983
1984
1983
1982
I
IV
II
III
lr
IV
66.6
88.9
66.0
78.5
80.9
95.0
101.0
109.3
38.5
49.9
38.3
44.9
46.0
53.1
55.8
59.7
69.9
73.9
52.9
21.0
12.4
24.9
-12.6
174
2.9
20.3
1.0
-3.3
-3.3
0
86.6
90.9
65.1
25.9
14.0
30.8
-16.8
195
4.3
23.8
1.1
2.3
1.9
.3
75.9
79.7
58.5
21.2
12.3
25.7
-13.5
-17.1
2.4
19.5
1.0
-9.8
-11.1
1.3
76.3
80.7
57.5
23.2
12.9
27.4
-14.5
18 5
3.9
22.3
1.1
2.2
1.9
.3
86.8
91.4
66.9
24.5
13.4
28.6
-15.2
191
4.1
23.2
1.1
-5.9
-6.7
.8
91.2
92.5
65.8
26.7
15.1
32.7
-17.6
17 5
4.8
22.4
1.2
3.8
3.8
0
92.1
99.2
70.0
29.2
14.7
34.6
-19.9
-23.0
4.3
27.3
1.2
9.0
8.7
.2
101.2
108.4
76.3
32.1
15.6
37.7
-22.1
-24.0
5.1
29.1
1.2
8.0
7.3
.8
40.3
37.1
29.8
7.3
9.3
14.0
-4.7
-6.8
1.6
8.4
.7
-1.8
-1.8
0
48.6
44.0
35.7
8.3
11.3
16.9
-5.6
-7.4
2.3
9.7
.8
1.3
1.2
.1
43.4
39.9
32.7
7.2
9.5
14.4
-4.9
-6.7
1.3
8.0
.7
-5.2
-5.6
.5
43.3
39.6
31.8
7.8
10.0
15.2
-5.1
-7.1
2.1
9.1
.7
1.5
1.4
.1
48.8
45.0
37.0
8.0
10.6
15.8
52
-7.5
2.2
9.7
.7
-2.8
-3.1
.3
51.0
44.5
36.1
8.4
12.1
17.9
58
-6.3
2.5
8.9
.8
2.0
2.0
0
51.2
46.7
37.8
8.9
12.4
18.7
-6.3
-8.8
2.3
11.0
.8
4.7
4.6
.1
55.8
50.6
41.0
9.6
13.5
20.2
-6.7
-9.1
2.7
11.8
.8
3.9
3.7
.2
50.6
27.9
71.3
32.6
49.4
30.3
63.4
29.8
64.4
32.5
76.4
31.4
81.1
36.6
91.5
34.5
28.5
15.7
39.0
17.9
27.7
16.9
34.9
16.5
35.5
18.0
41.7
17.2
43.7
19.8
49.0
18.5
Table 1.16-1.17.—Truck Output in Current and Constant Dollars
Billions of dollars
Billions of 1972 dollars
Seasonally adjusted at annual rates
1982
Truck output l
Final sales
Personal consumption expenditures
Producers' durable equipment
Net exports
Exports
Imports
Government purchases
Change in business inventories
1983
1982
1983
IV
I
II
III
IV
Ir
1982
1983
1982
IV
1984
1983
I
II
III
IV
Ir
30.4
37.2
26.4
30.5
35.0
38.9
44.3
48.7
14.3
17.2
12.4
14.1
16.5
18.0
20.3
21.9
30.8
11.8
16.6
-2.7
2.5
5.2
5.2
36.8
16.1
19.3
-3.9
2.0
5.9
5.4
30.8
11.6
14.9
-1.6
2.3
3.9
6.0
31.3
12.7
16.5
-3.0
1.8
4.9
5.1
34.6
16.5
17.1
-4.2
1.9
6.0
5.2
37.1
16.5
19.1
-4.0
2.1
6.1
5.5
44.2
18.8
24.3
-4.6
2.2
6.8
5.7
46.4
19.2
25.9
47
2.4
7.1
6.0
14.4
6.6
7.1
-1.4
1.1
2.5
2.2
17.1
8.8
7.9
19
.8
2.8
2.2
14.4
6.5
6.3
— 9
LO
1.8
2.5
14.4
7.0
6.8
-1.5
.8
2.3
2.1
16.3
9.1
7.0
-2.0
.8
2.8
2.2
17.2
9.0
7.9
19
.9
2.8
2.3
20.3
10.1
10.0
-2.2
.9
3.1
2.4
21.0
10.3
10.5
-2.2
1.0
3.2
2.4
-.4
.4
-4.4
-.8
.4
1.8
.1
2.3
-.1
.2
-.3
.2
.7
Table 1.14-1.15:
1. Consists of final sales and change in business inventories of new autos produced in the
United States.
2. Consists of personal consumption expenditures, producers' durable equipment, and government purchases.
Seasonally adjusted at annual rates
1984
Table 1.16-1.17:
1. Includes new trucks only.
-2.1
0
.9
8
SURVEY OF CURRENT BUSINESS
June 1984
Table 2.2-2.3.—Personal Consumption Expenditures by Major Type of
Product in Current and Constant Dollars
Table 2.1.—Personal Income and Its Disposition
Billions of dollars
Billions of dollars
Seasonally adjusted at annual rates
1982
1983
1983
1982
IV
n
I
Seasonally adjusted at annual rates
1984
HI
1982
Ir
IV
1983
1982
2,578.6 2,742.1 2,632.0 2,657.7 2,713.6 2,761.9 2,835.2
Personal income
156.6
Proprietors' income with IVA
and CCAdj
Farm
Nonfarm
Rental income of
with CCAdj
persons
173.4
160.4
164.3
170.1
176.4
182.7
109.0
21.5
87.4
128.5
20.9
107.6
116.2
26.0
90.2
120.6
22.2
98.4
127.2
21.0
106.2
126.7
15.5
111.2
139.4
25.0
114.5
189.0
169.3
47.9
121.4
49.9
54.8
52.3
54.1
54.8
53.9
56.2
57.0
Personal dividend income
66.4
70.5
67.9
68.8
69.3
70.9
72.9
75.1
Personal interest income
366.2
366.3
363.1
357.2
357.1
369.9
381.1
396.3
Transfer payments
Old-age, survivors, disability, and health insurance
benefits
Government unemployment
insurance benefits
Veterans benefits
Government employees retirement benefits
Other transfer payments
Aid to families with dependent children
Other
374.5
403.6
399.0
398.5
405.3
402.5
408.1
411.8
204.5
222.8
216.5
217.4
221.1
223.8
228.8
233.5
24.8
16.4
25.6
16.7
32.2
16.6
29.0
16.9
30.0
16.6
22.6
16.6
20.7
16.5
17.4
16.6
54.2
74.6
58.6
80.0
55.8
77.9
56.6
78.7
58.3
79.3
59.3
80.2
60.1
82.0
61.3
83.0
13.4
61.2
14.3
65.7
13.5
64.3
14.1
64.5
14.4
64.9
14.3
66.0
14.5
67.5
15.1
67.9
Less: Personal contributions for social insurance .
112.0
119.5
112.9
116.5
118.6
120.5
122.5
128.7
402.1
406.5
404.1
401.8
412.6
400.1
411.4
421.3
Equals: Disposable personal
income
2,176.5 2,335.6 2,227.8 2,255.9 2,301.0 2,361.7 2,423.9
2,504.9
Less: Personal tax
nontax payments
and
Less* Personal outlays
2,051.1 2,222.0 2,107.0 2,134.2 2,209.5 2,245.9 2,298.3 2,356.5
Personal consumption ex1,991.9 2,158.0 2,046.9 2,073.0 2,147.0 2,181.1 2,230.9 2,286.2
penditures
Interest paid by consumers
68.7
to business
60.2
63.6
66.0
59.1
58.1
62.8
61.4
Personal transfer payments
1.6
1.2
1.4
1.1
to foreigners (net)
1.1
1.0
1.0
1.2
Equals: Personal saving
Personal saving as percentage of disposable personal income
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
125.4
113.6
120.8
121.7
91.5
115.8
125.6
148.4
1,094.6 1,066.1 1,073.8 1,083.0 1,100.1 1,121.5 1,148.6
9,969
4,672
234.3
9,562
4,576
233.0
9,661
4,599
233.5
Housing
Household operation
Electricity and gas
Other
Transportation
Other
4.9
5.4
5.4
9,834 10,069 10,308
4,629 4,690 4,769
234.0 234.6 235.1
10,631
4,875
235,6
5.2
5.9
4.0
4.9
1,991.9 2,158.0 2,046.9 2,073.0 2,147.0 2,181.1 2,230.9 2,286.2
244.5
279.4
252.1
258.5
277.7
282.8
298.6
315.1
109.9
133.4
116.1
118.4
133.9
135.6
145.6
155.8
93.5
41.1
102.2
43.9
94.9
41.0
97.3
42.9
100.8
43.1
102.9
44.3
107.7
45.4
111.8
47.5
761.0
804.1
773.0
777.1
799.6
814.8
825.0
843.2
396.9
119.0
91.5
153.5
20.0
133.5
422.1
125.6
90.8
165.7
21.1
144.6
404.5
119.6
91.1
157.9
20.2
137.7
411.7
120.0
87.3
158.1
17.7
140.4
419.6
126.4
90.3
163.3
21.2
142.1
426.4
125.1
93.1
170.2
23.0
147.2
430.6
130.7
92.7
171.1
22.3
148.8
439.9
134.0
92.4
176.9
22.0
154.9
334.1
144.3
76.3
68.0
68.4
439.6
363.6
153.8
81.1
72.7
72.8
484.3
345.2
147.1
76.8
70.3
69.2
460.3
352.6
145.9
74.1
71.8
70.1
468.8
359.5
155.4
82.8
72.6
70.9
483,9
367.2
155.8
83.3
72.5
74.0
486.6
375.1
157.9
84.0
73.9
76.1
498.1
382.5
161.6
84.8
76.8
77.6
506.2
Billions of 1972 dollars
Personal consumption expenditures
Durable goods
Motor vehicles and parts ...
Furniture and household
eQuioment
oSz!.!!:::::::::::::::::::::::::
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
970.2 1,011.4
979.6
986.7 1,010.6 1,016.0 1,032.2 1,048.3
139.8
156.3
143.2
145.8
156.5
157.9
165.2
174.0
57.4
68.0
60.5
60.9
69.1
69.1
73.0
77.9
59.7
22.7
64.7
23.7
60.2
22.5
61.7
23.3
63.9
23.4
65.2
23.6
67.9
24.3
70.8
25.3
364.2
376.1
366.0
368.9
374.7
378.1
382.5
387.3
184.0
84.4
25.6
70.2
3.5
66.6
191.0
87.3
26.3
71.5
4.0
67.5
186.4
84.5
25.2
70.0
3.4
66.6
188.2
84.7
26.3
69.7
3.3
66.4
189.4
88.4
26.3
70.7
4.1
66.6
193.1
86.1
26.3
72.6
4.3
68.3
193.5
90.0
26.2
72.8
4.1
68.7
192.5
92.7
27.2
75.0
4.0
71.0
466.2
479.0
470.4
472.0
479.4
480.1
484.4
486.9
171.3
63.5
24.9
38.6
31.7
199.6
176.3
63.7
24.6
39.1
31.6
207.3
172.4
63.0
23.9
39.1
31.4
203.5
174.0
61.9
23.0
39.0
31.2
204.8
175.5
64.2
25.1
39.1
31.4
208.2
177.1
64.3
25.4
38.9
31.7
207.0
178.8
64.5
25.1
39.4
32.0
209.1
180.6
65.1
25.5
39.6
32.0
209.3
Table 3.14.—State and Local Government Social Insurance Funds
Receipts and Expenditures
[Billions of dollars]
Receipts
5.8
lr
IV
III
986.4 1,074.5 1,021.8 1,037.4 1,069.7 1,083.5 1,107.3 1,127.9
Services
Nondurable goods
Addenda:
Disposable personal
income:
Total, billions of 1972 dol1,060.2
lars
Per capita:
9,377
Current dollars
4,567
1972 dollars
232.1
Population (millions)
II
2,926.2
Wage and salary disburse1,568.1 1,664.6 1,586.0 1,610.7 1,648.4 1,681.9 1,717.3 1,756.4
ments
Commodity-producing
567.2
509.2
529.7 499.5 508.6 522.2 537.8 550.0
industries
433.0
383.8
Manufacturing
402.8 377.4 385.4 397.4 409.2 419.0
415.3
378.8
397.2 383.5 386.4 394.3 398.9 409.3
Distributive industries
434.7
374.1
Service industries
411.5 388.5 396.4 407.3 416.4 425.8
Government and govern339.3
324.6 328.8 332.1
306.0
ment enterprises
326.2 314.5 319.2
Other labor income
1984
1983
I
IV
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
56.2
616
58 1
595
608
622
637
656
351
379
361
369
375
382
389
396
9.2
25.9
10.0
27.9
9.5
26.7
9.7
27.2
9.9
27.7
10.1
28.1
10.3
28.6
10.5
29.2
23.6
23
25.5
24
24.3
23
24.9
23
25.3
23
25.7
24
26.2
25
26.6
25
211
237
22 0
226
233
240
249
259
23.0
25.5
24.0
24.7
25.2
257
265
27.3
8
9
g
g
g
9
9
10
223
246
232
239
244
248
255
264
332
361
342
34 9
356
366
37 3
382
Table 3.14:
NOTE.—In this table, interest and dividends received are included in receipts; in tables 3.2 and
3.3, interest received and dividends received are netted against expenditures.
SURVEY OF CURRENT BUSINESS
June 1984
Table 3.2.—Federal Government Receipts and Expenditures
1982
1983
Billions of dollars
Billions of dollars
Seasonally adjusted at annual rates
Seasonally adjusted at annual rates
Receipts
617.4
644.7
612.6
1984
1983
1982
IV
Personal tax and nontax
receipts
Income taxes
Estate and gift taxes
Nontaxes
Corporate profits tax accruals
Indirect business tax and
nontax accruals
Excise taxes
Customs duties
Nontaxes
Contributions for social
insurance
Table 3.3.—State and Local Government Receipts and Expenditures
623.3
1982
II
III
IV
lr
652.6
645.2
657.5
687.9
I
304.7
296.7
7.6
.3
295.9
289.7
5.9
.3
303.0
296.7
6.0
.3
297.7
291.7
5.7
.3
304.2
297.8
6.1
.3
286.9
280.2
6.3
.4
295.0
289.1
5.5
.4
302.5
295.7
6.4
.4
46.5
60.3
42.1
48.6
59.8
66.6
66.4
72.5
48.3
32.4
8.6
7.3
54.0
36.4
9.1
8.5
48.3
32.4
8.3
7.6
48.6
33.3
7.5
7.7
56.0
38.6
8.9
8.4
55.5
37.0
9.8
8.8
55.8
36.8
10.0
9.0
56.0
36.6
10.8
8.6
217.9
234.4
219.3
228.5
232.6
236.2
240.3
256.9
826.3
820.9
806.6
818.7
832.5
847.3
858.7
258.7
179.4
79.3
321.1
314.8
6.3
274.8
200.3
74.5
345.4
338.7
6.7
279.2
190.8
88.5
344.8
337.2
7.6
273.5
194.4
79.1
340.3
335.3
5.0
273.7
199.4
74.3
347.0
341.0
6.0
278.1
201.2
76.9
343.5
337.5
6.0
274.1
206.3
67.8
350.9
341.1
9.7
271.9
212.7
59.2
349.7
343.5
6.2
83.9
84.9
107.7
86.5
96.5
121.1
85.0
89.1
112.6
85.8
88.4
113.0
86.7
91.8
116.0
87.2
101.0
125.8
86.4
104.6
129.6
90.4
108.0
133.4
89.5
18.2
22.8
103.4
17.7
24.7
93.8
18.8
23.5
95.4
17.6
24.6
98.6
17.4
24.2
108.1
17.7
24.8
111.5
18.1
25.0
115.0
18.4
25.4
Subsidies less current surplus of government
enterprises
Subsidies
Less: Current surplus of
government enterprises-
15.8
14.9
22.6
19.9
22.8
17.9
18.6
16.4
18.2
17.7
22.3
17.8
31.3
27.8
38.9
38.6
-.8
-2.7
-4.9
-2.3
-.5
-4.5
-3.5
Less: Wage accruals less
disbursements
0
-.4
0
0
-.4
0
Purchases of goods and
services
National defense
Nondefense
Transfer payments
To persons
To foreigners
Grants-in-aid to State and
local governments
Net interest paid
Interest paid
To persons and business
To foreigners
Less: Interest received
Surplus or deficit
( ) NIPA's
-147.1 -181.6
Social insurance funds
Other
-1.3
2082 -183.3 -166.1 -187.3
-29.0 -28.7 -43.9
1180 -152.9 -164.3
-32.0 -31.4
1514 -134.7
1982
1983
IV
764.4
Expenditures
1983
Receipts
Personal tax and nontax
receipts. ...
Income taxes
.
Nontaxes
Other
Corporate profits tax accruals
Indirect business tax and
nontax accruals
Sales taxes
Property taxes
Other
Contributions for social insurance
Federal grants-in-aid
Expenditures
Purchases of goods and
services
Compensation of employees
Other .
Transfer payments to persons
Net interest paid ...
Interest paid
Less: Interest received
I
1984
II
III
IV
lr
439.1
483.5
450.7
461.7
478.7
492.7
500.7
514.2
97.4
51.8
36.4
9.2
110.5
59.4
41.1
10.0
101.2
53.5
38.1
9.5
104.1
55.1
39.3
9.6
108.4
58.0
40.4
9.9
113.3
61.5
41.7
10.1
116.4
63.1
43.0
10.3
118.8
64.1
44.3
10.4
12.7
16.6
11.9
12.9
16.2
18.4
18.9
20.2
210.0
95.5
85.1
29.3
231.9
105.9
94.4
31.6
216.6
98.0
88.8
29.8
222.0
100.4
91.2
30.5
229.9
105.0
93.5
31.3
235.6
108.0
95.5
32.1
240.1
110.3
97.3
32.6
245.1
113.3
98.8
33.1
35.1
83.9
37.9
86.5
36.1
85.0
36.9
85.8
37.5
86.7
38.2
87.2
38.9
86.4
39.6
90.4
407.8
432.0
417.8
421.3
427.0
437.1
442.7
453.7
390.5
414.7
400.5
404.0
409.7
420.2
424.9
435.7
223.0
167.5
240.5
174.2
229.5
171.0
233.8
170.1
238.1
171.5
242.6
177.6
247.2
177.7
252.3
183.4
45.6
198
29.9
49.7
49.4
-22.7
33.8
56.6
47.1
-21.1
31.5
52.6
48.3
-22.0
32.3
54.3
49.0
-22.5
33.3
55.8
49.4
-23.0
34.3
57.3
50.8
-23.4
35.4
58.8
51.8
-24.0
36.9
60.9
Less: Dividends received
2.3
2.8
2.5
2.6
2.7
2.8
3.0
3.0
Subsidies less current surplus of government
enterprises
Subsidies
Less: Current surplus of
government enterprises..
-6.3
.5
65
.5
-6.2
.5
63
.5
64
.5
65
.5
-6.7
.5
-6.8
.6
6.7
7.0
6.7
6.8
6.9
7.1
7.2
7.3
-.3
Less: Wage accruals less
disbursements
0
0
0
0
0
0
0
0
.2
Surplus or deficit
( ) NIPA's
189.8 -170.7
Social insurance funds
Other
-25.9 -25.6 -12.3
1614 -164.3 -158.4
31.3
51.4
32.9
40.4
51.7
55.5
58.1
60.5
33.2
-1.9
36.1
15.3
34.2
-1.2
34.9
5.5
35.6
16.1
36.6
18.9
37.3
20.8
38.2
22.3
Table 3.7B-3.8B.—Government Purchases of Goods and Services by Type in Current and Constant Dollars
Billions of 1972 dollars
Billions of dollars
Seasonally adjusted at annual rates
Seasonally adjusted at annual rates
1982
1983
1982
IV
Government purchases of goods and services
Federal..
National defense
Durable goods
Nondurable goods
Services
Compensation of employees
Military
Civilian
Other services
Structures
Nondefense
Durable goods
Nondurable goods
Commodity Credit Corporation: Inventory change
Other nondurables
Services
Compensation of employees
Other services
Structures
State and local
Durable goods
Nondurable goods
Services
Compensation of employees
Other services .
Structures
445-525 0 - 8 4 - 2
1983
I
II
1984
1982
1983
r
III
IV
l
IV
1984
1983
1982
I
II
III
IV
lr
649.2
689.5
679.7
677.4
683.4
698.3
699.0
707.6
291.8
293.1
299.7
292.9
292.1
295.2
292.3
291.0
258.7
179.4
49.6
13.7
112.2
68.4
40.9
27.5
43.8
3.8
274.8
200.3
59.2
13.8
122.8
71.8
42.6
29.2
51.0
4.5
279.2
190.8
53.6
15.0
118.1
70.6
42.2
28.4
47.5
4.1
273.5
194.4
55.3
14.8
120.3
71.5
42.4
29.1
48.8
3.9
273.7
199.4
60.1
14.0
120.7
71.7
42.5
29.2
49.0
4.6
278.1
201.2
58.5
13.7
124.2
71.8
42.6
29.3
52.4
4.7
274.1
206.3
62.9
12.8
126.0
72.1
42.7
29.4
53.9
4.6
271.9
212.7
67.1
11.6
129.6
74.8
44.4
30.4
54.8
4.4
116.6
78.8
21.7
2.8
52.6
33.9
19.9
14.0
18.7
1.7
117.8
84.3
24.3
3.1
54.9
34.2
20.0
14.2
20.7
1.9
124.4
81.4
22.8
3.0
53.8
34.1
20.0
14.1
19.7
1.8
118.4
82.7
23.5
3.1
54.3
34.2
20.0
14.2
20.1
1.7
117.6
84.2
25.2
3.1
53.9
34.2
20.0
14.2
19.7
2.0
118.9
84.2
23.7
3.1
55.4
34.2
20.0
14.2
21.2
2.0
116.4
85.8
24.9
3.0
55.9
34.2
20.0
14.2
21.7
2.0
113.8
87.1
26.4
2.8
56.1
34.3
20.1
14.2
21.8
1.9
79.3
3.1
14.4
9.2
5.2
55.0
32.7
22.3
6.7
74.5
3.5
5.4
-1.2
6.6
59.0
34.3
24.7
6.7
88.5
3.4
21.3
16.1
5.2
57.1
33.6
23.5
6.6
79.1
3.5
10.3
4.3
6.0
58.6
34.1
24.4
6.8
74.3
3.5
5.5
-1.1
6.6
58.8
34.3
24.6
6.5
76.9
3.1
8.1
.6
7.5
58.6
34.4
24.3
7.1
67.8
3.8
-2.4
-8.7
6.3
60.0
34.5
25.5
6.4
59.2
3.6
-12.9
-18.7
5.8
62.1
35.6
26.4
6.4
37.8
1.5
6.6
4.9
1.7
26.8
16.6
10.2
2.9
33.6
1.6
1.7
-.5
2.1
27.4
16.6
10.8
2.9
43.0
1.6
11.4
9.7
1.8
27.2
16.6
10.5
2.9
35.7
1.6
3.8
1.7
2.0
27.4
16.6
10.8
2.9
33.4
1.6
1.6
-.7
2.3
27.4
16.6
10.8
2.8
34.7
1.4
3.0
.8
2.2
27.2
16.6
10.6
3.0
30.5
1.7
-1.6
-3.7
2.1
27.6
16.6
11.0
2.7
26.6
1.6
5.6
-7.7
2.1
27.9
16.6
11.3
2.7
390.5
13.3
31.3
304.8
223.0
81.8
41.0
414.7
14.3
32.0
328.6
240.5
88.2
39.7
400.5
13.7
31.6
313.7
229.5
84.3
41.5
404.0
13.9
30.8
319.8
233.8
85.9
39.5
409.7
14.2
31.4
325.5
238.1
87.4
38.5
420.2
14.5
32.5
331.4
242.6
88.8
41.8
424.9
14.7
33.2
337.8
247.2
90.6
39.1
435.7
15.1
34.1
345.2
252.3
92.9
41.3
175.2
6.2
11.7
139.5
105.6
33.9
17.7
175.3
6.5
12.1
139.5
105.2
34.3
17.1
175.2
6.3
11.8
139.1
105.1
34.0
18.0
174.5
6.4
11.9
139.2
105.1
34.1
17.0
174.5
6.5
12.0
139.4
105.1
34.2
16.6
176.3
6.6
12.2
139.6
105.2
34.4
17.9
175.9
6.7
12.4
140.0
105.4
34.5
16.8
177.2
6.8
12.7
140.3
105.5
34.8
17.5
10
SURVEY OF CURRENT BUSINESS
June 1984
Table 4.1-4.2.—Foreign Transactions in the National Income and Product Accounts in Current and Constant Dollars
Billions of 1972 dollars
Billions of dollars
Seasonally adjusted at annual rates
Seasonally adjusted at annual rates
1982
1983
1982
1983
IV
Receipts from foreigners
Exports of goods and services .
Merchandise,,-,,,.-,
...„„... ^
Durable goods
Nondurable goods
t
Services
Factor income *
Other
Capital grants received by the United States (net)
I
1984
III
II
IV
lr
1982
1983
1984
1983
1982
I
IV
II
III
IV
lr
347.6
335.4
321.6
326.9
327.1
341.1
346.5
358.8
347.6
209.2
119.5
89.8
335.4
199.4
114.2
85.2
321.6
190.9
108.7
82.2
326.9
195.6
111.8
83.8
327.1
194.3
112.4
81.9
341.1
201.2
114.7
86.5
346.5
206.3
117.9
88.4
358.8
215.4
124.0
91.4
147.3
81.4
44.4
37.0
138.7
76.9
41.7
35.2
136.5
75.4
40.2
35.2
137.3
76.9
41.2
35.7
136.2
75.5
41.2
34.3
140.7
77.4
41.8
35.5
140.6
77.9
42.7
35.2
144.4
80.7
44.5
36.2
138.4
86.5
51.9
136.1
82.1
54.0
130.8
80.3
50.5
131.3
76.9
54.5
132.8
79.2
53.7
139.8
85.9
53.9
140.2
86.3
53.9
143.4
88.9
54.5
65.9
42.2
23.7
61.8
38.2
23.6
61.1
38.5
22.6
60.4
36.3
24.1
60.7
37.1
23.6
63.3
39.9
23.4
62.7
39.6
23.2
63.7
40.4
23.3
0
0
0
0
0
0
0
0
Payments to foreigners
347.6
335.4
321.6
326.9
327.1
341.1
346.5
358.8
Imports of goods and services
Merchandise
Durable goods
Nondurable goods
330.2
244.5
123.4
121.1
344.4
258.9
138.8
120.2
316.1
235.0
114.0
121.0
309.9
230.9
124.7
106.2
335.6
251.3
134.6
116.8
359.4
272.7
141.6
131.1
372.6
280.8
154.2
126.6
407.0
314.6
179.8
134.8
118.4
79.7
52.3
27.4
126.9
88.9
58.7
30.1
113.5
77.0
49.0
28.0
116.8
81.4
53.2
28.2
123.9
86.2
56.6
29.6
129.2
90.7
59.9
30.8
137.8
97.1
65.2
31.9
151.9
111.3
76.1
35.1
85.7
39.3
46.4
85.4
36.4
49.1
81.0
34.3
46.7
79.0
32.6
46.5
84.2
35.1
49.2
86.7
37.9
48.8
91.8
40.0
51.8
92.4
42.3
50.2
38.7
19.1
19.5
38.1
16.9
21.2
36.5
16.4
20.1
35.4
15.4
20.0
37.7
16.4
21.3
38.5
17.6
20.9
40.7
18.3
22.4
40.6
19.2
21.4
7.5
1.1
6.3
7.9
1.2
6.7
8.7
1.0
7.6
6.1
1.0
5.0
7.1
1.1
6.0
7.2
1.2
6.0
11.2
1.4
9.7
7.8
1.6
6.2
Services
Factor income *
Other
Transfer payments (net)
From persons (net)
From government (net)
Interest paid by government to foreigners
Net foreign investment
18.2
18.8
17.7
-8.3
-34.6
17.4
17.6
17.7
-33.0
-6.7
-21.9
-43.2
18.1
-55.3
18.4
-74.5
Table 4-1-4-2:
1. Equals rest-of-the-world production as shown in tables 1.5-1.6.
Table 4.3-4.4.—Merchandise Exports and Imports by Type of Product and by End-Use Category in Current and Constant Dollars
Billions of 1972 dollars
Billions of dollars
Seasonally adjusted at annual rates
Seasonally adjusted at annual rates
1982
1983
1982
IV
Merchandise exports . . ..
1983
I
1984
1982
1983
r
II
III
IV
l
1984
1983
1982
IV
I
II
III
IV
lr
80.7
209.2
199.4
190.9
195.6
194.3
201.2
206.3
215.4
81.4
76.9
75.4
76.9
75.5
77.4
77.9
Foods, feeds, and beverages .
31.6
31.4
27.4
31.6
30.0
31.5
32.5
34.1
14.5
13.9
13.3
14.8
13.6
13.7
13.3
14.0
Industrial supplies and materials
Durable goods
Nondurable goods
61.6
16.9
44.7
56.6
16.2
40.5
57.4
15.7
41.6
55.0
15.0
39.9
55.4
15.9
39.5
57.9
16.8
41.1
58.2
16.8
41.4
58.9
16.8
42.0
21.7
5.9
15.7
20.5
5.9
14.7
20.7
5.7
15.0
20.0
5.5
14.5
20.2
5.8
14.4
21.1
6.1
15.0
20.8
6.0
14.8
20.8
6.0
14.9
Capital goods, except autos
73.8
68.3
67.4
69.4
67.9
67.0
68.9
71.5
28.4
25.9
25.7
26.4
25.7
25.3
26.0
26.8
Autos
17.1
18.5
14.3
16.6
18.2
19.0
20.1
22.3
5.4
5.6
4.4
5.1
5.6
5.8
6.0
6.6
Consumer goods
Durable goods
Nondurable goods
14.8
6.5
8.3
14.0
6.0
8.0
14.3
6.1
8.1
13.8
6.1
7.7
13.7
5.8
7.8
14.3
6.1
8.2
14.1
5.8
8.3
13.9
6.0
7.9
7.4
2.6
4.8
7.0
2.4
4.6
7.3
2.4
4.8
7.0
2.4
4.6
6.9
2.3
4.6
7.1
2.5
4.7
7.1
2.4
4.7
6.9
2.4
4.5
Other
Durable goods
Nondurable goods
10.3
5.1
5.1
10.6
5.3
5.3
10.0
5.0
5.0
9.2
4.6
4.6
9.2
4.6
4.6
11.5
5.8
5.8
12.5
6.2
6.2
14.8
7.4
7.4
4.0
2.0
2.0
4.1
2.0
2.0
4.0
2.0
2.0
3.6
1.8
1.8
3.6
1.8
1.8
4.4
2.2
2.2
4.7
2.4
2.4
5.5
2.8
2.8
111.3
Merchandise imports
244.5
258.9
235.0
230.9
251.3
272.7
280.8
314.6
79.7
88.9
77.0
81.4
86.2
90.7
97.1
Foods, feeds, and beverages
17.1
18.2
17.7
17.7
18.2
18.5
18.4
21.0
7.2
7.7
7.4
7.6
7.7
7.7
7.7
8.7
Industrial supplies and materials, excluding petroleum
Durable goods
Nondurable goods
46.7
23.9
22.8
51.1
26.6
24.5
44.6
22.0
22.7
47.8
23.2
24.5
50.5
26.4
24.1
52.4
28.9
23.5
53.9
28.0
26.0
62.9
34.4
28.5
16.3
8.3
8.0
18.9
9.8
9.1
16.1
7.9
8.2
17.5
8.5
9.0
18.5
9.7
8.8
19.2
10.6
8.6
20.3
10.5
9.8
23.3
12.7
10.6
Petroleum and products .
61.2
54.3
60.5
42.0
52.1
66.3
56.7
55.0
5.1
5.0
5.0
3.6
4.9
6.1
5.2
5.1
Capital goods, except autos
38.3
40.9
34.5
37.2
38.6
41.8
46.1
57.7
18.9
20.4
17.3
18.5
19.0
20.8
23.0
28.8
Autos
34.3
42.0
31.3
36.9
41.1
41.5
48.8
53.1
11.5
13.7
10.5
12.2
13.5
13.6
15.6
17.0
Consumer goods
Durable goods
Nondurable goods
39.7
23.3
16.4
44.9
25.5
19.4
39.0
22.5
16.5
43.2
24.3
18.8
43.8
25.0
18.8
44.1
25.3
18.8
48.6
27.3
21.3
57.3
30.8
26.5
17.9
12.1
5.8
20.2
13.3
6.9
17.7
11.8
5.8
19.4
12.7
6.7
19.7
13.0
6.8
19.9
13.2
6.7
21.9
14.4
7.5
25.3
16.1
9.2
Other
Durable goods
Nondurable goods
7.2
3.6
3.6
7.4
3.7
3.7
7.3
3.6
3.6
6.2
3.1
3.1
•7.1
3.6
3.6
8.0
4.0
4.0
8.3
4.2
4.2
7.6
3.8
3.8
2.9
1.5
1.5
3.0
1.5
1.5
3.0
1.5
1.5
2.6
1.3
1.3
2.9
1.5
1.5
3.3
1.6
1.6
3.4
1.7
1.7
3.1
1.5
1.5
37.2
172.0
183.3
37.1
162.3
204.6
33.1
157.8
174.5
36.0
159.5
188.9
35.3
158.9
199.2
37.8
163.5
206.3
39.1
167.2
224.1
41.0
174.4
259.6
17.1
64.3
74.6
16.3
60.6
83.9
15.9
59.6
71.9
16.8
60.1
77.7
16.0
59.6
81.4
16.4
61.0
84.6
16.1
61.8
91.9
16.9
63.8
106.2
Addenda:
Exports:
Agricultural products
Nonagricultural products
Imports of nonpetroleum products
June 1984
11
SURVEY OF CURRENT BUSINESS
Table 5.1.—Gross Saving and Investment
Table 5.10-5.11.—-Inventories and Final Sales of Business in Current
and Constant Dollars
Billions of dollars
Billions of dollars
Seasonally adjusted at annual rates
1982
1983
1982
IV
Gross saving
Gross private saving
Personal saving
Undistributed
corporate
profits with IVA and
CCAdj
Undistributed profits
IVA
CCAdj .
lr
IV
III
II
405.8
439.6
351.3
398.5
420.6
455.4
484.0
537.6
521.6
125.4
569.9
113.6
526.6
120.8
541.5
121.7
535.0
91.5
587.5
115.8
615.7
125.6
647.8
148.4
37.0
46.4
84
-1.1
78.9
57.3
92
30.8
37.5
43.1
103
4.7
48.9
36.7
-1.7
13.9
70.1
55.2
106
25.6
89.7
70.4
-18.3
37.6
107.0
67.0
-6.3
46.2
110.7
73.4
-12.5
49.8
222.0
137.2
231.6
145.7
227.7
140.5
228.3
142.6
229.8
143.5
233.1
148.6
235.2
148.0
238.5
150.2
0
0
0
0
0
0
0
0
Capital consumption allowances with CCAdj:
Corporate
Noncorporate •
Wage accruals less disbursements
Government surplus or
deficit (-), NIPA's
Federal
State and local
I
-115.8 -130.2 -175.3 -142.9 -114.4 -131.8 -131.8 -110.2
-147.1 -181.6 -208.2 -183.3 -166.1 -187.3 -189.8 -170.7
58.1
60.5
31.3
51.4
40.4
51.7
55.5
32.9
Capital grants received by
the United States (net)
Seasonally adjusted quarterly totals
1984
1983
0
0
0
0
0
0
0
0
Gross investment
406.2
437.4
355.5
397.4
417.1
457.9
477.1
530.1
Gross private domestic investment
,
Net foreign investment
414.5
-8.3
471.9
-34.6
377.4
-21.9
404.1
-6.7
450.1
-33.0
501.1
-43.2
532.5
-55.3
604.6
-74.5
Statistical discrepancy
.5
23
4.2
-1.2
-3.5
2.5
-6.8
75
1982
IV
1984
1983
I
II
III
IV
lr
Inventories 1
Farm
Nonfarm
Durable goods
Nondurable goods
798.4
80.7
717.7
407.3
310.4
791.5
84.3
707.1
399.8
307.3
793.9
82.6
711.3
401.5
309.8
807.5
81.9
725.5
409.5
316.1
816.4
86.1
730.2
415.0
315.3
841.6
92.5
749.1
424.2
324.9
Manufacturing
Durable goods
Nondurable goods
341.5
220.2
121.4
332.7
214.3
118.4
334.9
216.6
118.3
341.1
219.1
122.0
340.8
219.5
121.3
348.0
223.4
124.6
Wholesale trade
Durable goods .
Nondurable goods
Merchant wholesalers
Durable goods
Nondurable goods
Nonmerchant wholesalers
Durable goods
Nondurable goods
163.5
104.1
59.5
134.2
88.8
45.4
29.3
15.2
14.1
159.1
100.9
58.1
131.8
86.0
45.8
27.3
15.0
12.3
159.2
100.0
59.2
131.3
84.8
46.5
27.9
15.2
12.7
164.1
103.0
61.0
135.2
87.7
47.5
28.9
15.4
13.5
166.2
105.1
61.1
137.8
89.6
48.2
28.4
15.5
12.9
169.2
106.9
62.2
140.2
91.1
49.1
29.0
15.8
13.2
Retail trade
Durable goods
Nondurable goods
Other
141.3
64.3
77.1
71.3
143.3
65.8
77.4
72.1
145.6
66.1
79.5
71.6
149.3
68.4
80.9
71.1
153.2
71.4
81.8
70.1
160.7
74.7
86.0
71.2
223.0
133.8
226.2
135.2
232.0
138.6
236.8
141.9
241.6
144.8
245.9
147.0
3.58
3.22
3.50
3.13
3.42
3.07
3.41
3.06
3.38
3.02
3.42
3.05
5.36
5.23
5.13
5.11
5.04
5.10
Final sales 2
. .
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
Billions of 1972 dollars
Table 5.8-5.9.—Change in Business Inventories by Industry in Current
and Constant Dollars
Billions of dollars
Seasonally adjusted at annual rates
1982
1983
1982
IV
Change in business invento-24.5
ries
-6.4 -56.4
1984
1983
I
II
-39.4 -14.5
III
8.5
4 -4.2 -9.9
-1.4 -3.7
27
18.4
-23.1 -2.8 -53.7 -39.0 -10.3
7.3 -42.4 -37.7
1.5 38.8
-13.9
93 -10.1 113
13 -11.8 -20.4
Farm
Nonfarm
Change
in book value
IVA1
-20.6 -8.3 -32.4
-14.1 -6.6
253
-6.4 -1.7 -7.1
21
21
57
-1.0 -1.9 -9.5
-1.0
-.1
3.8
.2 -1.1 -5.1
.2 -1.7 -7.5
0
.7
2.4
-2.2 -1.0
-.6
2 -2.0
-1.2
g
10
1.4
-1.0
8.5 -9.2
5.2 -10.4
-1.0
0
3.3
1.3
.5
-.9 -6.5
6
.7
.2
-.2
-.3 -6.7
Manufacturing
Durable goods
Nondurable goods
Wholesale trade
Durable goods
Nondurable goods
Merchant wholesalers.
Durable goods
Nondurable goods
Nonmerchant wholesalers
Durable goods
Retail trade
Durable goods
Nondurable goods
Other
Durable goods
Nondurable goods
-29.9
242
-5.7
181
-16.0
-2.0
-13.1
-14.6
1.5
-5.0
-1.4
36
6.9
3.5
3.4
2.1
15
3.6
2.5
31
.1 -2.5
-3.2
5.0
-7.7
8.9
9.5
-7.5
-.1 — 7
7!2
-7.6
9.5
-7.7
.1 -2.3
-.1
1.7
0
.1
1.7
-.2
8.1
3.9
6.0
-.7
2.1
4.6
-3.4 -1.0
.1
-.7
-2.7 -1.1
IV
Ir
19.6
71.0
-.1 21.0
19.7 50.1
26.7 64.1
-7.0 -14.0
-2.6
.3
-2.9
8.5
6.2
2.3
9.2
5.9
3.4
-.7
.4
-1.1
15.1
12.0
3.1
-1.3
-.3
1.0
17.3
9.3
8.0
7.2
4.4
2.8
5.1
3.6
1.5
2.1
.8
1.3
22.9
9.3
13.5
2.7
-.3
3.1
Billions of 1972 dollars
Change in business inventories
Farm
Nonfarm ..
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
Nondurable goods
.....
-9.4
-2.1 -22.7 -15.4
-5.4
3.8
8.7
30.7
-.8
-8.6
-1.9
-.2
-.3
151
-2.1
-3.3
-5.0
8.8
1
8.8
8.5
22.2
84
-6.0
-2.4
I
-.3
.2
.6
.2
.4
-.8
-.5
-.2
-.5
-.5
0
.4
.3
.1
31
-2.6
-.5
-.5
-.7
.2
-.2
-.6
.4
-.2
-.1
-.1
3.7
2.3
1.5
-.4
3
-.1
-13.6 -12.3
-10.6 -10.1
-3.0 -2.2
24
67
-3.8 -6.7
1.4
0
-1.6 -5.3
-3.0 -6.1
1.4
.7
-.9 -1.3
-.6
-.8
-.7
0
-4.1
3.1
-4.6
1.7
.5
1.4
-1.0
.8
.1
-.6
-1.1
1.4
-.8
.2
-1.0
29
-3.1
.3
-2.9
-3.2
.3
.1
.1
0
1.7
-.5
2.2
-1.3
3
-1.0
1.4
-.9
2.3
4.1
4.0
.1
3.8
4.0
-.3
.3
0
.3
3.8
2.6
1.2
-.5
0
-.5
-.5
.5
-1.0
3.5
2.8
.7
3.6
2.7
.9
0
.2
-.2
6.3
5.3
1.1
-.6
1
-.5
6.9
3.9
3.0
3.6
1.9
1.7
2.9
1.6
1.3
.7
.3
.3
10.7
4.0
6.7
1.0
-.1
1.1
-1.6
211
Inventories 1
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 sales 2
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
..
338.3
334.5
333.1
334.1
336.2
343.9
43.4
294.9
176.4
118.5
43.3
291.2
172.5
118.7
42.8
290.3
171.6
118.8
41.5
292.5
173.0
119.5
41.5
294.7
175.1
119.6
43.6
300.3
177.6
122.7
139.6
94.6
44.9
136.5
92.1
44.4
136.3
92.1
44.1
136.6
91.9
44.7
136.5
92.0
44.5
138.2
93.0
45.2
67.1
44.1
22.9
56.5
37.5
19.0
10.6
6.6
3.9
65.4
42.5
22.9
55.2
36.0
19.2
10.2
6.5
3.7
64.7
41.7
23.0
54.4
35.2
19.3
10.3
6.5
3.7
65.7
42.7
23.0
55.4
36.2
19.2
10.3
6.5
3.8
66.6
43.4
23.2
56.3
36.8
19.4
10.3
6.6
3.8
67.5
43.9
23.6
57.0
37.2
19.8
10.5
6.6
3.8
65.1
29.5
35.7
23.2
65.9
29.9
36.0
23.4
66.3
29.8
36.5
23.0
67.3
30.4
36.8
22.9
68.9
31.8
37.1
22.8
71.5
32.8
38.8
23.0
106.6
65.7
106.8
65.6
108.9
67.3
110.3
68.6
111.5
69.5
112.8
70.4
3.18
2.77
3.13
2.73
3.06
2.67
3.03
2.65
3.02
2.64
3.05
2.66
4.49
4.44
4.31
4.27
4.24
4.27
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.
Table 5.8-5.9:
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.
12
SURVEY OF CURRENT BUSINESS
Table 6.4.—National Income Without Capital Consumption Adjustment
by Industry
June 1984
Table 7.1.—Implicit Price Deflators for Gross National Product
Index numbers, 1972=100
Billions of dollars
Seasonally adjusted
Seasonally adjusted at annual rates
1982
1983
1982
I
National
income
without CCAdj
ni
II
IV
I'
2,492.4 2,655.1 2,508.1 2,553.0 2,622.6 2,685.6 2,759.2 2,865.3
2,445.1 2,609.4 2,462.1 2,508.7 2,578.4 2,637.5 2,712.9 2,818.7
Private industries
2,081.6 2,220.2 2,087.8 2,127.5 2,192.2 2,245.4 2,316.0 2,412.3
Agriculture,
forestry,
and fisheries
Mining
Construction
68.4
39.8
106.7
68.9
35.4
113.5
73.4
33.9
106.2
69.7
34.6
108.4
68.6
33.0
111.9
63.7
36.1
116.4
73.4
37.9
117.5
96.9
39.5
121.8
Manufacturing
Durable goods .
Nondurable goods
548.9
316.7
232.2
593.0
345.3
247.6
530.3
298.5
231.7
551.9
318.9
233.0
581.6
337.7
243.8
607.6
353.5
254.1
630.8
371.2
259.6
656.9
393.7
263.2
Transportation and
public utilities
Transportation
Communication
Electric, gas, and
sanitary services
199.9
83.0
60.2
205.0
85.0
59.2
197.7
81.5
59.7
198.8
82.1
60.0
204.4
83.8
60.9
205.0
86.6
56.1
211.9
87.4
59.8
218.0
89.7
61.6
56.7
60.9
56.5
56.8
59.7
62.3
64.8
66.7
152.4
209.7
161.4
226.1
151.0
215.8
151.1
218.8
159.4
223.6
164.8
228.7
170.5
233.5
175.7
238.7
369.8 394.3
386.0 . 422.5
379.5
400.1
386.6
407.6
392.7
417.1
395.7
427.4
402.4
438.1
415.2
449.7
363.5
389.1
374.3
381.2
386.3
392.2
396.9
406.4
47.3
45.7
46.0
44.3
44.1
48.1
46.3
46.6
Government and government enterprises
Rest of the world
1983
1982
IV
I
1984
ra
II
IV
lr
206.88 215.63 210.00 212.83 214.55 216.44 218.53 220.60
Gross national product
Domestic industries
Wholesale trade
Retail trade
Finance, insurance, and
real estate
Services
1983
1984
1983
IV
1982
Personal consumption
expenditures
Durable goods
Nondurable goods
Services
205.3
174.8
209.0
211.6
213.4
178.7
213.8
224.3
209.0
176.1
211.2
217.2
210.1
177.3
210.6
219.8
Gross private domestic
investment.....
Fixed investment
Nonresidential .
Structures
Producers' durable equipment ..
Residential
Nonfann structures
Farm structures
Producers' durable equipment ..
Change in business inventories
215.3
209.7
265.8
183.1
240.2
244.0
245.9
168.7
216.3
206.8
263.9
182.9
246.8
249.8
251.2
172.5
215.7
209.9
264.3
183.2
238.4
241.5
249.9
171.1
215.9 215.5
207.7 206.3
265.4 264.0
181.8 182.1
244.9 243.9
248.2 246.8
248.2 249.8
171.7 171.5
Net exports of goods and
services
Exports
Imports
236.0
278.9
241.8 235.6 238.0 240.2
271.3 278.5 265.4 270.7
Government purchases of
goods and services
Federal
National defense
Nondefense
State and local
222.5 235.2 226.8
222.0 233.3 224.4
227.7 237.7 234.3
210.0 222.0 205.7
222.9 236.6 228.5
212.5 214.7/
177.5 1791
213.4 215.5
223.1 225.7
231.3
230.9
234.9
221.7
231.6
217.0
206.3
263.7
182.7
249.0
251.9
251.5
172.4
216.1
180.7
215.7
228.6
218.1
181.1
217.7
231.6
216.8
207.0
263.7
184.8
248.7
251.7
254.7
174.2
216.2
205.6
262.9
182.9
249.9
252.7
260.4
173.9
242.5 246.4 248.4
278.1 270.3 268.0
236.5 239.1
233.8 235.6
238.8 240.3
221.7 222.2
238.3 241.5
234.0
232.7
236.7
222.6
234.8
243.1
239.0
244.1
222.2
245.8
Table 7.2.—Fixed-Weighted Price Indexes for Gross National Product,
1972 Weights
Table 6.20.—Corporate Profits by Industry
Billions of dollars
Index numbers, 1972=100
Seasonally adjusted at annual rates
1982
1983
1982
IV
Corporate
profits
with
IVA
and
CCAdj
Domestic industries
Financial
NonfLnancial
Rest of the world
164.8
229.1
161.9
I
181.8
n
III
218.2
248.4
268.2
281.6
207.7
29.9
177.8
21.4
137.8
23.5
114.3
24.1
161.6
27.8
133.9
20.2
197.7
32.1
165.7
20.5
225.0
30.5
194.5
23.4
246.5
29.3
217.2
21.7
259.5
29.7
229.8
22.1
165.9
198.3
157.2
168.0
192.7
210.8
222.0
231.8
144.1
176.9
133.1
147.8
172.2
187.4
200.3
209.7
Financial
Federal Reserve Banks...
Other
20.9
15.4
5.5
31.5
15.0
16.6
25.5
14.9
10.6
29.8
14.4
15.4
33.8
14.6
19.2
31.9
15.2
16.8
30.6
15.7
14.9
31.1
15.9
15.2
Nonfinancial
,
Manufacturing
Durable goods
Primary metal industries..
Fabricated metal
products
Machinery, except
electrical
Electric and electronic equipment ..
Motor vehicles and
equipment
Other
123.2
59.0
9.8
145.4
72.0
19.9
107.6
48.3
1.2
118.0
53.7
10.0
138.4
68.1
18.3
155.5
78.2
21.3
169.6
88.1
30.0
178.6
92.3
36.1
-5.4
-.7
-6.0
-1.6
6
.4
1.6
profits
Domestic industries
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
11
1982
lr
IV
143.0
19.0
124.0
21.8
Corporate
with IVA
Seasonally adjusted
1984
1983
3.2
4.0
2.1
2.8
4.0
3.9
5.4
5.2
4.8
2.4
1.8
1.1
2.9
2.3
3.2
3.5
4.3
3.3
2.4
3.5
3.0
2.7
4.0
5.0
.4
2.5
7.7
3.2
-1.2
2.2
3.0
1.2
5.6
3.9
10.2
2.8
12.1
5.0
15.8
5.0
49.2
52.1
47.1
43.6
49.9
56.9
58.1
56.3
7.3
6.8
7.2
6.9
6.9
6.3
7.0
7.5
4.9
6.0
3.0
4.8
5.5
6.8
7.0
7.6
24.8
12.2
21.4
17.9
23.5
13.4
15.9
16.0
20.0
17.4
24.7
19.1
24.9
19.2
21.4
19.7
17.5
20.7
14.9
17.4
20.4
22.5
22.6
24.7
27.6
19.1
34.7
18.0
27.5
16.9
27.8
19.2
33.9
16.0
36.7
18.1
40.2
18.7
41.2
20.4
21.8
21.4
24.1
20.2
20.5
23.4
21.7
22.1
Gross national product
• 214.7
1983
223.9
1982
1983
IV
I
n
218.7
220.6
222.9
1984
III
IV
Ir
225.5 227.8 230.5
Personal consumption
expenditures
Durable goods
Nondurable goods
Services
213.2
181.2
219.0
218.9
221.9 217.4 218.3 220.9
185.9 182.9 183.9 184.8
223.3 221.7 220.0 222.7
233.0 225.3 228.5 231.6
223.3 225.6
186.6 188.4
224.4 226.0
234.8 238.0
228.1
188.6
228.4
241.3
Gross private domestic
investment
Fixed investment
Nonresidential
,
Structures
Producers' durable equipment ..
Residential
Change in business inventories
231.5
225.7
246.2
214.0
242.4
234.9
230.3
248.5
219.9
243.6
232.5 235.6
228.6 229.9
248.2 248.1
217.4 219.4
240.0 246.5
237.4 237.9
230.9 231.8
248.4 249.9
220.8 221.4
249.7 249.5
239.0
233.0
251.4
222.4
250.4
N ,-'''
Net exports of goods and
services
Exports
Imports
244.1 249.1 243.9
309.4 298.8 306.1
Government purchases of
goods and services
Federal
National defense
Nondefense
State and local
226.4
230.6
236.7
215.0
223.6
x
Addenda:
Gross domestic purchases1
218.9
Final sales
214.7
Final1 sales to domestic purchasers
218.9
Personal consumption expenditures, food
217.3
Personal consumption expenditures, energy
363.7
Other personal consumption expenditures
198.1
Gross domestic product
Business
Nonfarm
235.2
230.1
24T.5
220.1
244.9
214.7
215.2
215.2
245.8
303.2
c
247.4
298.2
249.8
299,4
253.5 255.0
298.5 300.0
231.4 233.7 235.2
235.6 237.0 236.2
241.9 242.9 241.8
219.7 221.7 221.9
228.6 231.5 234.5
238.3
238.7
244.7
223.3
238.0
240.5
240.2
246.3
224.7
240.6
245.2
245.8
252.3
229.2
244.8
227.1 222.7
224.0 218.8
224.3 226.1 228.7 230.7
220.6 222.9 225.5 227.8
233.4
230.6
227.2 222.8
224.3 226.2
230.8
233.5
236.9
238.1
244.0
222.9
236.1
228.7
221.8
218.4
219.5
222.3 221.6
223.7
230.0
365.6
374.9
357.0
362.9
370.4
372.2
366.5
208.7
202.6
205.1
207.4
210.2
212.6
214.8
224.0
223.7
218.8
218.8
220.6 223.0
220.8 223.0
225.5 227.9 230.6
225.6 227.9 230.2
Table 7.1-7.2:
1. Gross domestic purchases equals GNP less exports plus imports; final sales to domestic purchasers equals final sales less exports plus imports.
13
SURVEY OF CURRENT BUSINESS
June 1984
Table 7.7.—Current-Dollar Cost and Profit Per Unit of Constant-Dollar
Gross Domestic Product of Nonfinancial Corporate Business
Table 7.3.—Implicit Price Deflators for Gross National Product by
Major Type of Product
Dollars
Index numbers, 1972=100
Seasonally adjusted
Seasonally adjusted
1982
1983
1982
IV
Gross national product
1983
I
n
1984
III
IV
I
r
206.88 215.63 210.00 212.83 214.55 216.44 218.53 220.60
1984
1983
1982 1983 1982
I
IV
n
III
IV
lr
207.2
215.8 210.6
213.3 214.7
216.4
218.5 220.4
Current-dollar cost and profit per unit
of constant-dollar
gross domestic
2.072 2.147 2.097 2.123 2.136 2.153 2.172 2.183
product 1
193.6
198.4
194.0
196.7
198.7
200.6
201.7
Capital consumption allowances with CCAdj .... .245 .244 .254 .252 .245 .241 .238 .235
1.827 1.903 1.843 1.872 1.892 1.911 1.934 1.947
Net domestic product
Final sales
Change in business inventories
194.5
198.8
195.8
198.1 198.1 198.5 200.3 200.5
Durable goods ..
Final sales
Change in business inventories
Nondurable goods ... ....
Final sales
Change in business inventories
185.7
187.0
188.3 184.9
188.8 188.5
Final sales
Change in business inventories
Goods
197.5
184.8 186.8
188.1 187.5
189.7
189.0
191.3
190.7
190.8
189.5
199.0 205.9 199.9 204.6 205.3 205.4 208.0
199.8 206.1 200.8 205.1 205.9 205.5 207.8
210.2
209.1
Services
212.2
225.8
218.2
221.3 224.5 227.1 230.1 233.7
Structures .
251.9
252.4
250.2
252.0
250.9
Addenda:
Gross domestic purchases 1
209.8 217.9
Final 1 sales to domestic purchasers
210.1 218.0
212.9
214.7
216.8 219.2
213.5 215.1 217.0
Indirect business tax and nontax liability
plus business transfer payments less subsidies
r
Compensation of employees
Corporate profits with
IVA and CCAdj
. .
Profits tax liability
Profits after tax with IVA and CCAdj ....
Net interest
.209 .220 .215 .218 .223 .221 .219 .217
1.618 1.683 1.627 1.654 1.669 1.690 1.715 1.731
1.397 1.418 1.419 1.428 1.416 1.412 1.416 1.423
.145 .199
.048 .063
.097 .136
.076 .066
.135
.040
.095
.073
.156
.049
.108
.070
.214
.070
.144
.065
.187
.062
.125
.066
.234
.069
.165
.065
.241
.075
:166
.066
253.1 253.5 254.0
219.2
220.6
222.6
Table 7.8.—Implicit Price Deflators for Auto Output
220.5 222.4
Index numbers, 1972=100
Seasonally adjusted
1982 1983 1982
Table 7.4.—Implicit Price Deflators for Gross National Product by
Sector
IV
Auto output
Gross national product
206.88 215.63 210.00 212.83 214.55 216.44 218.53 220.60
2129
211*3
2120
214.2
1950
191 2
211.3
Gross domestic product
Business
Nonfarm
Nonfarm less housing
Housing
Farm
Statistical discrepancy
2069
2060
2065
208.9
1881
1902
206.0
2156
2139
2145
216/T
1983
1925
213.9
Households and institutions
Private households
Nonprofit institutions
2292
2342
2288
2419 2364 2380 241 1 243 0 2454 2469
2366 2345 2347 2376 2372 2368 2377
2423 2365 2383 2414 2435 2461 2477
Government
Federal
State and local
2077
2004
2112
2221
2087
2285
Rest of the world
2051 2147
21QO
2085
2093
21L5
192 7
1865
208.5
2146
2129
213 5
215.6
1971
1928
212.9
2165
2147
2153
217.3
1994
1926
214.7
2141 2177 2206 2236
2054 2078 2084 2090
2183 2225 2265 2306
2084
211 6
213 6
215 6
2185
2167
217 3
219.3
2016
193 5
216.7
2206
2184
2186
220.5
2036
2124
218.4
2264
2097
2345
2320
217 0
2393
2179
220 2
Addendum:
Gross domestic business product
less housing
2077
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
Addenda:
Domestic output of new autos2 l
Sales of imported new autos
Table 7.5.—Implicit Price Deflators for the Relation of Gross National
Product, Net National Product, and National Income
206.88 215.63 21000 212 83 214 55 21644 21853 22060
Less: Capital consumption allowances with CCAdj
2210
Equals: Net national product
2231 2225 2231 2225 2237
205.1 214.7
Less:
Indirect business tax and nontax
liability plus business transfer
payments less subsidies plus
current surplus of government
enterprises
1785
208.4
211.6
213.6
215.6
2233
2238
217.9
220.2
1855
1790
1819
1894
1885
1823
1776
206.0
213.9
208.5
2113 2129
2147
2167
2184
Equals: National income
208.5
218.4
212.1 215.3 216.6
2190
2224
225.6
Table 7.3:
1. Gross domestic purchases equals GNP less exports plus imports; final sales to domestic purchasers equals final sales less exports plus imports.
Table 7.7:
1. Equals the deflator for gross domestic product of nonfmancial corporate business with the
decimal point shifted two places to the left.
Table 7.8:
1. Consists of final sales and change in business inventories of new autos produced in the
United States.
2. Consists of personal consumption expenditures, producers' durable equipment, and government purchases.
HI
IV
lr
173.1 178.0 172.5 175.0 176.0 179.1 180.9 183.0
173.4 178.2 174.7 176.0 178.0 178.7 179.9 181.4
199.1 206.9 199.9 203.7 203.2 207.8 212.2 214.4
177.8 182.4 178.9 181.0 181.0 182.3 185.1 186.3
132.4 124.3 128.9 128.4 127.1 124.8
177.8 182.5 178.9 180.9 180.9 182.4
118.3 115.1
185.1 186.3
182.0 189.5 182.6 187.2 188.6 192.3 189.7 190.0
241.0 246.0 245.1 244.3 240.2 252.6 247.1 246.3
147.9 150.1 148.5 150.1 149.2 150.8 150.2 150.0
177.8 183.0 178.4 181.0 181.2 183.1 185.5 186.6
177.8 182.4 179.0 180.9 181.0 182.3 185.1 186.3
Final sales
Personal consumption expenditures
Producers' durable equipment
Net exports
Exports
Imports
Government purchases
Change in business inventories
212.9 216.1 213.8 216.4 212.8 216.7 218.2
m,8
213.1 215.9 213.4 217.4 212.8 215.3 217.8 221.5
177.7 182.6 178.9 181.1 181.0 1825 185?! 1865
234.9 242.5 235.9 243.3 242.5 242.7 242.0 247.3
234.9 242.4 235.8 2433 242.4 242 6 94?, 1 247.7
209.4 215.6 211.3 215.3 215.2 217.2 214.8 221.3
235.3 242.6 235.9 243.3 242.6 242.7 2420 2478
Table 7.11.—Implicit Price Deflators for Personal Consumption
Expenditures by Major Type of Product
Statistical discrepancy
Table 7.9:
1. Includes new trucks only.
II
Table 7.9.—Implicit Price Deflators for Truck Output
Truck output1
Gross national product
1984
1983
I
Personal consumption expenditures
205.3 213.4 209.0 210.1 212.5 214.7 216.1 218.1
Durable goods
Motor vehicles and parts
Furniture and household equipment
Other
1748
1913
156.5
1813
1787
1961
157.9
1856
1761
1920
157.6
1827
1773
1945
157.8
1839
177.5
1937
157.6
1842
179.1
196.4
157.9
1873
180.7
199.4
158.4
1869
181.1
200.1
157.9
187.4
Nondurable goods
Food
Clothing and shoes
Gasoline and oil
Other nondurable goods
Fuel oil and coal
Other
209.0
2157
141.1
3571
2188
565.6
2004
213.8
2209
143.8
3459
2318
531.3
2142
211.2
2171
141.5
3615
225.5
590.0
2068
210.6
2187
141.7
3312
226.9
541.1
2114
213.4
2216
142.9
3438
231.1
518.3
2134
215.5
220.9
145.3
3542
234.3
529.9
2155
215.7
222.5
145.2
3544
234.8
537.9
216.5
217.7
228.6
144.5
3397
236.0
552.4
218.2
Services
Housing ...
Household operation
Electricity and gas
Other
Transportation
Other
2116
1950
227.0
306.3
175.9
2154
220.3
2243
206.2
241.3
328.9
186.0
2304
233.6
2172
200.2
233.4
321.0
179.7
2208
226.1
219.8
202.6
235.7
322.8
184.3
2246
228.9
223.1
204.9
242.1
330.3
185.6
2255
232.4
225.7
207.4
242.3
327.7
186.4
233.4
235.0
228.6
209.8
244.8
334 4
187.6
238.0
238.1
231.6
211.8
2484
3\83 1
193.9
242.2
241.9
14
SURVEY OF CURRENT BUSINESS
Table 7.14B.—Implicit Price Deflators for Government Purchases of
Goods and Services by Type
June 1984
Table 7.17.—Implicit Price Deflators for Merchandise Exports and
Imports by Type of Product and by End-Use Category
Index numbers, 1972=100
Index numbers, 1972=100
Seasonally adjusted
Seasonally adjusted
1982
1983
IV
Government purchases of
goods and services
Federal
222.5
222.0
235.2
233.3
226.8
224.4
1984
1983
1982
I
II
231.3
230.9
234.0
III
IV
Ir
236.5
239.1
243.1
233.8
232.7
235.6
239.0
National defense
Durable goods
Nondurable goods
Services
Compensation of
employees
Military
Civilian
Other services
Structures
227.7
228.4
488.3
213.6
237.7
243.1
449.2
223.8
234.3
235.1
501.9
219.4
234.9
234.8
471.7
221.6
236.7
238.2
453.8
224.0
238.8
246.9
443.8
224.3
240.3
252.2
426.5
225.3
244.1
253.7
419.2
231.1
201.9
205.7
196.4
234.8
224.3
209.7
212.5
205.9
247.1
229.5
207.1
211.5
200.9
240.6
222.8
208.9
211.8
204.8
243.3
225.2
209.4
212.2
205.4
249.3
227.7
210.0
212.8
206.1
247.2
231.6
210.6
213.1
207.1
248.6
232.9
218.0
220.7
214.2
251.8
236.2
Nondefense
Durable goods
Nondurable goods
Commodity Credit Corporation inventory change
Other nondurables
Services
Compensation of
employees
Other services
Structures
,
210.0
210.0
222.0
215.8
205.7
213.9
221.7
213.8
222.6
215.2
221.7
.214.9
222.2
219.1
2222
219.4
State and local
Durable goods
Nondurable goods
Services
,
Compensation of employees...
Other services
,
Structures
302.0
205.6
308.2
215.3
197.5
218.7
231.7
222.9
212.8
267.1
218.5
211.2
241.0
231.9
294.3
214.7
341.7
215.5
302.3
217.2
281.0
222.5
205.6
226.1
233.1
206.2
227.7
232.9
206.9
229.0
234.2
207.9
231.1
234.0
215.0
233.4
236.4
231.6
217.2
259.4
229.8
222.5
252.2
232.2
234.8
219.0
262.0
233.6
226.5
255.3
232.0
238.3
220.4
265.6
237.5
230.6
258.5
233.2
241.5
221.8
266.9
241.3
234.5
262.3
232.1
245.8
223.8
269.2
246.1
239.3
266.7
235.4
296.6
210.3
293.6
213.7
206.7
228.5
233.6
201.9
223.6
231.9
236.6
219.6
263.5
235.5
228.5
257.1
232.4
228.5
215.5
268.7
225.5
218.3
247.8
230.1
Table 7.16.—Implicit Price Deflators for Exports and Imports of Goods
and Services
1982
1983
1982
IV
1984
1983
I
II
III
IV
Ir
266.9
Merchandise exports
257.0
259.1
253.1
254.3
257.2
260.0
264.9
Foods, feeds, and beverages
Industrial supplies and
materials .
Durable goods
Nondurable goods
218.0
226.5
205.4
213.7
220.1
229.7
244.0
242.5
284.3
284.3
284.4
276.1
276.2
276.1
277.1
277.1
277.1
275.1
275.0
275.1
274.5
274.5
274.5
274.9
275.0
274.9
280.0
280.0
280.0
282.6
282.6
282.6
Capital goods, except autos
Autos
Consumer goods
Durable goods
Nondurable goods
Other
Durable goods
Nondurable goods
259.6
316.7
200.1
250.9
172.6
256.8
256.8
256.9
264.1
330.1
198.8
249.9
172.6
259.5
259.5
259.4
262.2
323.4
197.1
252.6
169.0
253.1
253.1
253.2
262.6
325.4
197.5
255.9
167.4
254.1
254.1
254.1
263.8
327.1
198.4
249.9
172.1
257.2
257.2
257.2
264.7
331.0
200.6
248.6
175.3
260.0
260.1
259.9
265.3
336.0
198.8
245.4
175.4
264.9
265.0
264.8
266.9
338.5
201.1
245.5
177.0
267.0
266.9
267.1
306.8
291.4
305.4
283.8
291.5
300.5
289.1
282.7
234.3
237.2
239.8
240.0
241.6
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
239.3
237.8
240.2
286.7 270.8 277.5 273.6 272.2 272.8 265.4 269.7
288.0 270.9 278.8 273.7 272.2 272.9 265.3 270.0
285.3 270.8 276.3 273.4 272.2 272.6 265.5 269.3
, 1,206.4 1,093.1 1,200.1 1,158.6 1,071.3 1,081.9 1,081.3 1,078.0
199.4
200.6 202.6 200.9 200.2 200.6
203.0 201.0
313.1
298.3 306.3 299.8 302.2 304.4 304.0 313.3
, 222.0 221.9 220.7 222.2 .222.1 221.2 221.8 226.2
189.8
191.4
192.8
191.7
190.1
191.8
192.1
191.5
284.8 280.2 282.7 279.6 278.4 279.4 283.0 287.0
245.3 243.9 242.4 243.1 245.1 243.7 243.8 244.2
245.3 243.9 242.4 243.3 245.1 243.6 243.8 244.2
245.3 244.0 242.4 243.0 245.1 243.9 243.8 244.2
Addenda:
Exports:
Agricultural products
Nonagricultural products
Imports of nonpetroleum
products
218.2
267.3
226.9
267.8
208.5
265.0
214.3
265.5
221.1
266.8
230.1
268.1
242.5
270.8
243.1
273.2
245.6
243.9
242.7
243.0
244.8
243.9
243.9
244.5
Index numbers, 1972=100
Seasonally adjusted
1982
1983
IV
Exports of goods and services
236.0
241.8
235.6
1984
1983
1982
I
238.0
II
240.2
III
IV
Ir
242.5
246.4
248.4
257.0
269.2
242.4
259.1
273.6
242.0
253.1
270.0
233.7
254.3
271.2
234.7
"257.2
272.8
238.4
260.0
274.1
243.5
264.9
276.1
251.3
266.9
278.4
252.8
210.0
205.1
218.8
220.2
214.7
229.2
214.0
208.4
223.4
217.4
211.6
226.2
219.0
213.6
227.5
221.0
215.5
230.3
223.4
217.9
232.8
225.0
220.2
233.3
Imports of goods and services
278.9
271.3
278.5
265.4
270.7
278.1
270.3
268.0
Merchandise
Durable goods
Nondurable goods
306.8
236.1
441.3
291.4
236.3
398.8
305.4
232.7
433.0
283.8
234.5
376.9
291.5
237.6
394.6
300.5
236.3
425.3
289.1
236.6
396.4
282.7
236.2
383.4
Services
Factor income
Other
221.4
205.0
237.5
224.3
214.8
232.0
221.7
208.4
232.5
223.1
211.6
232.0
223.4
213.6
231.0
225.3
215.5
233.5
225.4
217.9
231.5
227.5
220.2
234.1
Merchandise
Durable goods ..
Nondurable goods
...
Services
Factor income
Other
Table 7.21.—Implicit Price Deflators for Inventories and Final Sales of
Business
Index numbers, 1972=100
Seasonally adjusted
1982
1983
1982
IV
1984
1983
I
II
III
IV
lr
Inventories1
236.0
236.6
238.3
241.7
242.8
244.7
Farm
Nonfarm
Durable goods
Nondurable goods
186.1
243.3
230.9
261.9
194.7
242.9
231.8
259.0
193.1
245.0
234.0
260.8
197.4
248.0
236.7
264.4
207.6
247.8
237.0
263.6
212.1
249.4
238.9
264.7
Manufacturing
Durable goods
Nondurable goods
244.7
232.7
270.0
243.7
232.7
266.6
245.8
235.1
268.0
249.6
238.4
272.7
249.6
238.5
272.6
251.7
240.2
275.4
Wholesale trade
Durable goods
Nondurable goods
Merchant wholesalers
Durable goods
Nondurable goods
Nonmerchant wholesalers
Durable goods
Nondurable goods
243.8
235.9
259.1
237.5
237.1
238.3
277.8
229.0
360.6
243.3
237.8
253.4
238.9
239.2
238.4
266.8
230.1
330.6
246.2
240.0
257.3
241.3
241.4
241.2
272.0
232.9
340.1
249.7
241.5
265.1
244.2
242.5
247.5
279.1
235.6
353.5
249.6
242.1
263.5
245.0
243.3
248.1
274.8
235.7
342.8
250.7
243.7
263.5
246.0
244.8
248.2
276.3
238.1
342.1
217.0
218.0
216.1
307.8
217.3
220.1
215.0
308.9
219.5
222.0
217.4
310.7
221.8
224.6
219.5
310.4
222.5
224.8
220.5
307.8
224.6
228.1
221.6
309.5
209.2
211.9
213.1
214.6
216.6
218.1
203.6
206.0
206.0
207.0
208.3
208.9
Retail trade
Durable goods
Nondurable goods
Other
Final sales 2
Final sales of goods and structures
,
,
Table 7.21:
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.
June 1984
15
SURVEY OF CURRENT BUSINESS
Table 8.1.—Percent Change From Preceding Period in Gross National Product in Current and Constant Dollars, Implicit Price Deflators, and
Price Indexes
Percent at annual rates
Percent
Percent
Percent at annual rates
Seasonally adjusted
1982
1983
IV
Gross national product:
Current dollars
1972 dollars
Implicit price deflator
Chain price index
Fixed-weighted price index ..
Seasonally adjusted
1984
1983
1982
I
II
III
IV
1982
1983
Ir
1982
IV
1984
1983
I
II
III
IV
Ir
4.0
19
6.0
6.5
6.4
7.7
3.4
4.2
4.4
4.3
2.5
13
3.8
5.0
4.7
8.2
2.6
5.5
3.6
3.4
13.3
9.7
3.3
4.3
4.3
11.5
7.6
3.6
4.5
4.7
9.1
5.0
3.9
4.4
4.2
13.9
9.7
3.9
4.7
4.9
Personal consumption expenditures:
Current dollars
1972 dollars
Implicit price deflator...
Chain price index
Fixed-weighted price index
Government purchases of goods and
services:
Current dollars
1972 dollars
Implicit price deflator
Chain price index
Fixed-weighted price index
9.0
1.8
7.0
7.2
6.7
6.2
.5
5.7
5.3
4.6
15.5 -1.3
88
10.6
8.2
4.4
4.7
7.2
4.0
7.0
3.6
-1.1
4.7
3.6
2.6
9.0
4.4
4.4
5.6
5.3
.4
3.9
4.5
4.1
3.8
5.0
-1.7
6.8
8.3
8.1
7.3
1.4
5.8
5.9
5.7
8.3
4.2
3.9
4.2
4.1
7.8
3.6
4.1
5.1
5.1
5.2
2.9
2.2
2.3
1.6
15.1
10.0
4.6
4.7
4.9
6.5
2.2
4.2
4.2
4.4
9.4
6.5
2.8
4.3
4.2
10.3
6.4
3.6
4.5
4.5
Durable goods:
Current dollars
1972 dollars
Implicit price deflators
Chain price index
Fixed-weighted price index
Federal:
Current dollars
1972 dollars
Implicit price deflator
Chain price index
Fixed-weighted price index
12.9
5.6
6.9
7.3
7.3
6.2
1.1
5.1
3.9
3.2
29.5 -8.0
28.3 -18.0
1.0 12.2
3.8
7.6
2.3
8.7
.3
-2.8
3.2
.6
-1.2
6.6
4.6
1.9
4.9
4.2
-5.6
-8.4
3.0
2.3
2.5
-3.2
-8.6
5.9
9.9
9.7
3.5
-.9
4.5
4.7
5.0
14.3
11.8
2.2
2.3
2.6
15.1
15.2
1.5^
1.4
10.7
7.6
2.8
2.1
2.1
33.2
32.6
.5
1.1
1.9
7.6
3.7
3.7
3.6
4.1
24.2
19.9
3.6
3.8
3.7
24.1
23.2
.7
.4
.4
1972 dollars
Implicit price deflator
Chain price index
Fixed-weighted price index..
16.5
7.1
8.8
8.2
7.5
11.6
6.9
4.4
3.8
3.1
16.5
5.1
10.8
8.7
9.2
10.7
7.4
3.1
.2
-1.8
3.6
0
3.6
5.3
4.8
10.5
7.8
2.5
2.4
2.6
13.1
6.3
6.4
10.1
10.1
3.7
.5
3.2
3.2
2.9
5.7
3.3
2.3
2.2
2.0
2.1
3.4
3.2
1.5
1.9 -1.1
2.6 -1.9
2.9 -3.1
12.1
6.4
5.3
5.3
5.1
7.8
3.6
4.1
2.8
3.1
5.1
4.8
.3
2.5
2.8
9.1
5.1
3.8
4.4
4.5
Nondefense:
Current dollars
1972 dollars
Implicit price deflator
Chain price index
Fixed-weighted price index-
5.4
2.7
2.7
5.5
6.6
11.2
2.9
8.1
8.4
8.6
8.9
2.7
6.0
6.2
6.5
9.5
1.9
7.4
8.0
8.3
6.3
1.4
4.8
5.7
5.9
13.0
6.4
6.2
5.2
5.5
5.3
.6
4.7
5.4
5.7
9.1
3.7
5.2
5.7
5.7
7.7
2.1
5.5
5.7
5.6
31.5
28.6
53.9
49.8
53.6
45.1
27.5
27.6
66.2
63.8
Nondurable goods:
Current dollars
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
-12.7
145
13.9 -38.0
12.6 -34.6
,
-3.8
69
3.3
,
5.2
4.7
9.2
8.8
.4
2.8
5.4
20.5
21.5
g
-1.0
7
26.2
22.7
2.9
2.6
3.7
17.5
17.9
3
.6
.9
17.2
18.4
1.1
1.0
1.9
60 -5.7
-6.6 -1.5
42
.6
2.0
.5
2.4
2.3
5.1
7.9
-2.6
-.5
.3
18.8
18.7
.1
.7
1.4
28.8
27.2
1.3
1.0
1.6
13.1
16.1
-2.6
.8
2.1
-4.0
156 -15.3
-5.5 -13.9 -14.9
1.6 -2.0
-.5
1.4 -2.7
2.9
11.2
11.1
0
.5
7.8
6.8
1.0
1.4
21.8
24.4
-2.1
.8
2.0
-.1
1.0
1.6
2.4
2.4
74
-7.1
2.4
2.6
1.8
5.0
30
2.8
3.8
20.6
19.8
.7
1.1
1.2
23.6
22.0
1.3
L3
42.7
36.5
4.6
.7
1.1
8.5
13.0
-4.0
.8
1.9
43.2 46.9
39.4 53.2
2.7 -4.1
— 14P -5.2
-5.4
75.3
57.3
11.4
11.2
11.4
76.7
79.5
-1.6
-2.5
-2.6
47.5
35.9
8.6
8.0
8.0
-7.3
-6.9
.4
-.3
-.3
28.6
26.3
1.9
1.5
1.5
9.0
8.4
.5
.6
1.5
Nonresidential:
11 0
Current dollars
1972 dollars
-4.7
1.4
Implicit price deflator
3.8 -1.4
Chain price index
5.8
1.1
Fixed-weighted price index5.6
2.0
Structures:
Current dollars
6.4
76
1972 dollars
1.8 -6.9
Implicit price deflator
4.6
— .7
Chain price index
,
5.1
-.5
Fixed-weighted
price
index
4.1
.9
Producers' durable
equipment:
57
5.2
1972 dollars
-7.5
5.3
I
2.0
23
6.2
Chain price index
6.7
2.7
Fixed-weighted price index
Residential:
Current dollars
-13.0
1972 dollars
154
Implicit price deflator
2.9
Chain price index
32
Fixed-weighted price index.
3.1
3.4
2.7
.6
.5
5
Exports:
Current dollars
1972 dollars
Implicit price deflator
Chain price deflator
Fixed-weighted price index
-5.7
-7.8
2.2
2.6
2.4
-3.5 -25.3
-5.8 -24.4
11
2.5
c
2.3
2.1
!5
6.8
2.4
4.3
3.6
3.2
.2
-3.2
3.6
3.1
2.6
18.2
13.7
3.9
4.2
3.9
6.5
-.1
6.6
6.2
6.1
15.0
11.2
3.3
2.4
2.3
Imports:
Current dollars
1972 dollars
Implicit price deflator
Chain price index
Fixed-weighted price index
36
14
-5.0
-2.0
-3.1
4.3 296 -7.5
12.1
7.2 -26.1
175
-2.7 -4.6
-2.2
-.9 -2.6
-3.4
-.8 -3.8
37.4
26.8
8.3
-3.0
-6.3
15.6
31.5
18.1 29.5
113 -10.7
1.4
-.3
1.5 -1.2
42.4
47.4
-3.4
2.5
2.0
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 of
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 in
1972 prices. Changes in the implicit price deflator reflect both changes in prices and changes in
National defense:
State and local:
Current dollars
1972 dollars
Implicit price deflator
Chain price index
Fixed-weighted price index
6.6
-.5
7.1
7.1
6.3
7.8
6.5
1.2
3.1
1.7
-6.0
64.6 -36.0 -22.2
235
11 1 92.5 -52.6
1.8
35.0
5.7 -14.5
5.3
4.2
5.0
1.5
.3
3.8
3.7
7.3
14.9 -39.5 -42.0
16.9 40 1 421
.1
-1.7
.9
9.4
3.7
2.1
2.5
8.3
2.6
3.5
6.8
-.1 -1.8
5.4
6.9
5.4
6.9
5.2
5.9
5.8
0
5.8
5.7
5.3
10.7
4.3
6.1
6.2
6.1
4.6
-.8
5.4
5.3
4.6
10.6
3.0
7.3
7.2
7.0
1.8
8.6
4.6 -1.1
3.9
3.0
3.9
4.9
4.6
3.8
6.7
3.3
3.3
3.0
2.8
16.9
12.3
4.1
3.7
3.4
12.8
7.9
4.5
4.3
4.5
10.0
7.4
2.5
3.7
3.6
16.7
12.6
3.7
4.7
4.8
6.2
0
6.2
6.1
5.6
Addenda:
Gross domestic purchases:
Current dollars
1972 dollars
Implicit price deflator
Chain price index
Fixed-weighted price index
4.4
-1.0
5.4
6.0
5.7
Final sales:
Current dollars
1972 dollars
Implicit price deflator •
Chain price index
Fixed-weighted price index
5.5
-.7
6.3
6.5
6.4
7.1
2.8
4.1
4.4
4.3
9.4
4.5
4.7
5.0
4.7
5.8
.6
5.2
3.6
3.4
9.8
6.8
2.8
4.3
4.3
8.4
5.1
3.2
4.6
4.7
7.7
3.7
3.9
4.4
4.2
7.5
3.9
3.5
4.7
4.9
5.9
.2
5.6
6.0
5.8
8.0
4.1
3.8
3.9
3.8
8.8
4.8
3.8
4.9
4.6
4.3
1.2
3.0
2.9
2.7
13.3
9.3
3.7
3.7
3.4
9.7
5.4
4.1
4.3
4.5
8.7
6.0
2.5
3.7
3.6
10.2
6.6
3.4
4.7
4.8
4.2
-1.7
6.0
6.5
6.4
7.9
2.6
3.5 -1.2
4.2
3.8
4.4
5.0
4.7
4.3
8.6
2.9
5.5
3.6
3.4
13.5
9.9
3.2
4.3
4.3
11.1
7.3
3.6
4.6
4.7
9.5
5.4
3.9
4.4
4.2
14.1
9.9
3.8
4.8
4.9
3.4
-2.0
5.6
6.1
6.0
1.4
8.0
4.0 -1.4
3.9
2.8
4.1
4.2
4.0
3.8
8.9
3.3
5.4
3.8
3.6
14.9
11.5
3.0
4.1
4.1
12.1
8.4
3.4
4.5
4.7
10.0
6.0
3.8
4.3
4.1
15.0
11.4
3.2
4.2
4.2
3.6
1972 dollars
-2.2
Implicit price deflator
5.9
Chain price index
64
Fixed-weighted price index.
6.1
.4
8.5
4.4 -3.3
3.9
3.8
10.3
4.8
5.2
16.1
12.8
2.9
12.1
8.4
3.4
11.8
7.7
3.8
13.4
10.7
2.4
5.1
2.9
8.2
3.5
11.0
6.5
10.9
8.0
14.1
10.0
Final sales to domestic purchasers:
Current dollars
1972 dollars
Implicit price deflator
Chain price index
Fixed-weighted price index
Gross domestic product:
Current dollars
1972 dollars
Implicit price deflator
Chain price index
Fixed-weighted price index
Business:
1972 dollars
Implicit price deflator
Chain price index
Fixed-weighted price index
Nonfarm:
Disposable personal
income:
Current dollars
1972 dollars
6.3
.5
7.3
3.2
6.8
2.6
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.
16
June 1984
SURVEY OF CURRENT BUSINESS
Reconciliation and Other Special Tables
Table 1.—Relation of Net Exports of Goods and Services in the National
Income and Products Accounts (NIPA's) to Balance on Goods and
Services in the Balance of Payments Accounts (BPA's)
Table 2.—Real Gross National Product and National Income, Command
Over Goods and Services, and Related Series
[Billions of dollars]
[Billions of dollars]
Seasonally adjusted at annual rates
Seasonally adjusted at annual rates
Line
I
I
II
III
IV
I
332.2
1.7
-6.5
324.4
2.7
-7.1
325.4
1.6
-4.7
339.3
1.3
-5.3
339.6
1.2
-9.1
362.5
1.5
1.0
GNP
Gross domestic purchases
Net exports of goods and services
National income
1.3
.3
335.4
1.8
.2
326.9
1.1
.3
327.1
1.7
.5
341.1
.6
.4
346.5
.6
.7
358.8
Command, GNP basis
Gross domestic purchases
Net exports of goods and services
Command, National income basis
7 Imports of goods and services, BPA's
365.1
8 Less: Payments of income on U.S. Gov- 17.7
ernment liabilities.
9
Gold, BPA's
2.4
10
Capital gains net of losses in direct
.6
investment income payments.
11
Statistical differences 1 ..
0
12
Other items
13 Plus- Gold NIPA's
0
14 Equals: Imports of goods and services, 344.4
NIPA's.
329.9
17.6
356.3
17.3
378.1
17.7
296.1
18.1
431.5
18.4
2.3
1.2
2.9
1.5
2.3
-.2
2.1
.1
2.8
.1
10
-1.1
-1.0
3.3
3.3
0
309.9
0
335.6
.1
359.4
0
372.6
.2
407.0
15 Balance on goods and services, BPA's (1- -32.9
7).
7
Less- Gold (2-9 + 13)
17
Capital gains net of losses in direct
-7.2
investment income (3-10).
18
Statistical differences (4-11)
1.2
19
Other items (5-12)
.3
20 Plus: Payments of income on U.S. Gov- 17.7
ernment liabilities (8).
21 Equals: Net exports of goods and services,
-9.0
NIPA's (6-14).
-5.5
1 Exports of goods and services, BPA's
2 Less- Gold, BPA's
3
Capital gains net of losses in direct
investment income receipts.
4
Statistical differences l
5
Other items
6 Equals: Exports of goods and services,
NIPA's.
-30.8 -38.8
-56.5 -69.0
.4
-8.2
13
-6.2
10
-5.1
9
-9.2
-1.2
.9
2.8
.2
17.6
2.1
.3
17.3
2,8
.5
17.7
-2.7
.4
18.1
-2.7
.7
18.4
17.0
-8.5 -18.3
-26.1 -48.2
1. Consists of statistical revisions in the BPA's that have not yet been incorporated in the
NIPA's.
NOTE.—Lines from the balance of payments accounts are revised and are as shown later in
the Survey.
1984
1983
1984
1983
1983
1983
II
III
IV
I
1,535.3 1,490.1 1,525.1 1,553.4 1,572.5 1,609.3
1,523.5 1,469.6 1,512.8 1,542.0 1,569.7 1,616.8
-7.5
11.8
12.3
11.4
2.8
20.5
1,213.4 1,174.2 1,206.1 1,227.1 1,246.3 1,278.2
l
1,520.2 1,476.0 1,509.7 1,535.4 1,560.0 1,598.8
1,523.5 1,469.6 1,512.8 1,542.0 1,569.7 1,616.8
-9.7 -18.0
-3.3
6.4
-3.1
-6.6
1,200.1 1,161.6 1,192.5 1,211.2 1,235.2 1,268.9
Percent change from preceding period
GNP
Command, GNP basis
National income
Command, national income basis .
Addendum:
Terms of trade 2
3.4
3.9
3.2
3.9
2.6
4.5
2.7
5.0
9.7
9.5
11.3
11.1
7.6
7.0
7.2
6.4
5.0
6.6
6.4
8.2
9.7
10.3
10.6
11.3
89.1
89.7
88.7
87.2
91.2
92.7
1. Equals current-dollar net exports of goods and services deflated by the implicit price
deflator for imports of goods and services.
2. Equals the ratio of the implicit price deflator for exports of goods and services to the
implicit price deflator for imports of goods and services.
By ROBERT P. PARKER
Improved Adjustments for Misreporting of
Tax Return Information Used to Estimate
the National Income and Product Accounts,1977
INFORMATION from tax returns is business (corporate, partnership, and affects both the income and expense
a major data source used to estimate sole proprietorship) and individual, items used to prepare the NIPA estithe national income and product ac- and on employment tax returns. The mates. For example, a business may
counts (NIPA's). BEA has been aware information on these returns is avail- evade income tax either by underreof deficiencies in this information able to BEA in the form of statistical porting receipts, overreporting excaused by misreporting by taxpayers tabulations. For Federal income tax penses, or both. The underreporting
and for many years has made adjust- returns, the Internal Revenue Service of receipts leads to an understatement
ments to reduce the effects of misre- (IRS) tabulates a sample of each in net income in the tax return tabuporting on the NIPA's. However, the major type of return. These tabula- lation and in the related NIPA comadequacy of these adjustments has tions, which cover most items report- ponent, as does overreporting of exbecome a matter of concern, reflect- ed on the return—types of income, ex- penses. At the same time, the overreing increased interest in the extent of penses, etc.—as well as those on the porting of certain expenses, such as
tax evasion and other aspects of the supporting schedules, are published interest or rent, leads to an overstateunderground economy.1 Recently, in- annually in Statistics of Income (SOI). ment in the related NIPA component.
A business may evade social securiformation from studies by BEA and For employment tax returns that emother Government agencies on the ployers file with State Employment ty and unemployment insurance taxes
impact of the underground economy Security Agencies, the wage and by, for example, paying wages "off the
on NIPA source data provided the salary item is tabulated by the books/' To avoid detection, it must
basis for substantial improvements in Bureau of Labor Statistics (BLS) in underreport wages on both its income
BEA's adjustments.
cooperation with the State agencies and employment tax returns. In turn,
The improved adjustments are at and is published annually in Employ- to avoid overreporting net income, it
must underreport receipts or overpresent available only for 1977, They ment and Wages.
were incorporated in the input-output
In addition to the tax return tabu- report expenses other than wages, or
tables and preliminary revised lations used directly by BEA, tax both. The underreporting of wages on
NIPA's for 1977 that were presented return information enters the NIPA's the employment tax return leads to
in last month's issue of the SURVEY OF indirectly by way of the quinquennial an understatement of wages and salaCURRENT BUSINESS. They will be ex- economic censuses, such as the census ries in the NIPA's, and, depending
tended to earlier and later periods for of manufactures. In these censuses, upon the item, the offsetting overreincorporation in the NIPA's in the the Census Bureau uses tax return in- porting of expenses leads to an overcomprehensive revision scheduled for formation to define the universe to be statement in a NIPA component.
Most misreporting clearly stems
the end of 1985.
covered and to provide data on the
employment, payroll, and receipts of from the desire of the taxpayer to
small firms that are not sent a census evade taxes. Some misreporting, however, results from taxpayers' errors or
Introduction
report form.2
misinterpretation of tax laws. BEA's
Tax return information
adjustments do not distinguish among
Misreporting
reasons for misreporting.
BEA's adjustments for taxpayer
Because taxpayers use a variety of
misreporting pertain to information methods to evade taxes, misreporting
on Federal income tax returns, both
Use of tax return information in the
2. For a discussion of the use of tax return informaNIPA's
tion in the 1977 economic censuses, see U.S. Depart1. See Carol S. Carson, "The Underground Economy: ment of Commerce, Bureau of the Census, History of
Tax return information is used exAn Introduction," SURVEY OF CURRENT BUSINESS 64
the 1977 Economic Censuses (Washington, D.C., U.S.
GPO, 1980), pp. 15-23.
(May 1984):21-37.
tensively in estimating the NIPA's.
17
445-525 0 - 8 4 - 5
18
SURVEY OF CURRENT BUSINESS
Table 1.—National Income and Product Accounts: Preliminary Revised Estimates and Amount
Derived From Tax Return Information, 1977
[Billions of dollars]
Preliminary
revised
estimates
Gross national product
..
...
Personal consumption expenditures
Durable goods
Nondurable goods
Services
.
Gross private domestic investment
Fixed investment
Nonresidential
Structures
..
Producers' durable equipment
Residential
Change in business inventories
Nonfarm
Farm
. . .
.
.
.
,
Net exports of goods and services
Exports
Imports
..
Government purchases of goods and services
Federal
State and local
.
Charges against gross national product
..
Compensation of employees
Wages and salaries
Government and government enterprises
Other
Supplements to wages and salaries
Employer contributions for social insurance
Other labor income
..
Proprietors' income with inventory valuation and capital consumption adjustments
Farm
Proprietors' income with inventory valuation adjustment
Capital consumption adjustment ...
Nonfarm
Proprietors' income
..
Inventory valuation adjustment
Capital consumption adjustment
Rental income of persons with capital consumption adjustment
Rental income of persons
Capital consumption adjustment
Corporate profits with inventory valuation and capital consumption adjustments
Profits before tax
Inventory valuation adjustment
Capital consumption adjustment
,
'.
Amount
derived
from tax
return
information1
1,976.6
87.7
1,246.5
78.1
184.4
490.5
5716
11.1
24.3
427
336.6
9.7
314.9
2135
66.0
1475
101.4
21.7
20.7
1.1
3.2
3.0
0
30
.2
6.5
6.5
0
-2.1
0
185.3
187.4
0
0
395.6
0
143.4
252.2
0
0
1,972.4
1,103.7
1,165.6
803.1
994.9
202.4
792.5
1707
79.6
911
764.7
0
764.7
38.4
0
384
151.4
131.9
20.8
25.0
-4.3
130.7
1327
-1.2
-8
0
0
0
131.9
132.7
0
-.8
147
338
-19.1
8.4
84
0
166.8
150.3
194.3
-16.2
— 11.3
161.6
0
-11.3
107 1
5.3
Less: Current surplus of government enterprises less subsidies
Business transfer payments
Indirect business tax and nontax liability
3.0
86
166.0
0
4.5
0
Capital consumption allowances with capital consumption adjustment
Capital consumption allowances
Less* Capital consumption adjustment
195.2
1574
378
2
0
1309
120
Net interest ...
.. .'
1,596.1
987.0
Wage and salary disbursements
Other labor income
994.9
911
764.7
384
Proprietors' income with inventory valuation and capital consumption adjustments
Rental income of persons with capital consumption adjustment
Personal dividend income
Personal interest income
151.4
14.7
396
157.2
131.9
8.4
336
5.3
Transfer payments to persons .. .
From business
From government
2084
8.6
199.8
4.5
4.5
0
Personal income
Less* Personal contributions for social insurance
613
o
1. Government receipts that are derived from tax return information are not included as such in this table. They are not
included because the focus of this article is on NIPA estimates for which adjustments for taxpayer misreporting are needed to
bring NIPA estimates up to actual levels. Adjustments for government receipts (or their counterentries) in the NIPA's are hot
needed because such receipts as obtained from their data sources are already at actual levels.
2. As indicated by the $0, tax return information is not used to prepare the estimate for this component even though tax
return information is used for parts of the two components that comprise it. For capital consumption allowances, $130.9 billion is
derived from tax return information. The capital consumption adjustment is derived as the difference between capital
consumption allowances with capital consumption adjustment and capital consumption allowances. The —$12.0 billion derived
from tax return information is the part of that difference associated with the part of capital consumption allowances derived from
tax return information.
June 1984
About one-half of charges against
GNP, three-fifths of personal income,
and 5 percent of GNP are derived
from tax returns. The extent of the
use of tax return information in the
preliminary revised NIPA estimates
for 1977 is shown in table 1.
Tax return tabulations are the best
source available for estimating many
NIPA components. The tax return information is well suited for use in the
NIPA's because:
• The definitions of the items in
the tax returns are close to those
of the related NIPA components;
• The tax return information contains considerable detail on receipts and expenses that have
counterparts in the NIPA's;
• The detail on receipts and expenses is internally consistent;
• The tax return information is
comprehensive in its coverage of
legal forms of organization and of
industries.
Further, the accuracy of the information in the tabulations used for the
NIPA's is judged by BEA to be superior to that of either actual alternatives
or alternatives that might be developed at reasonable cost. Statistical
surveys—the major alternative—are
costly to conduct, a burden on respondents, and subject to several
types of error, including sampling
errors, bias, and nonresponse. In particular, information on the income of
individuals is difficult to collect in
surveys. Many persons misstate
income because of inaccurate recall or
lack of ready access to financial
records. Some who misreport income
on their tax returns will also misreport it in a survey. Others will refuse
to answer questions about income in a
Government survey.
One reason for BEA's judgment
about the accuracy of the tax return
information used in the NIPA's is
that, for all except one component,
BEA uses business tax returns, which,
in general, are subject to substantially less misreporting than are individual tax returns. Wages and salaries,
for example, are estimated from the
employment tax returns filed by business, rather than from the income tax
returns filed by employees. Table 2
lists the NIPA components derived directly and indirectly from tax return
information and the sources of that
information.
June 1984
Improved adjustments
The improved adjustments incorporate newly available information
about the extent of underreporting of
income and about the failure to file
income and employment tax returns.
As shown in table 3, they are considerably larger than the previous adjustments. The adjustment for nonfarm proprietors' income was revised
SURVEY OF CURRENT BUSINESS
19
from $13 billion to $59 billion, and adjustments of $22 billion for personal
consumption expenditures and $11
billion for wages and salaries were introduced.
The BEA adjustments are designed
for a specific purpose—to correct for
the effects of taxpayer misreporting
in the tax return tabulations and economic census data used in the
NIPA's. The BEA adjustments do not
measure all income on which taxes
are evaded. The major reason is that
not all income types reported on tax
returns are used in estimating the
NIPA's. Neither do the BEA adjustments measure the underground
economy. For example, they do not
cover illegal activities, which are part
of the underground economy but are
excluded from the NIPA's.
Table 2.—Sources of Tax Return Information Used To Prepare Estimates of the National Income
and Product Accounts, 1977
Source of
tax return
information 1
Previous Adjustments
The previous adjustments for misreporting, which are incorporated in the
published NIPA time series, are for
Gross national product
five components: nonfarm proprietors'
Personal consumption expenditures:
income, rental income of persons, net
A
Durable goods
All durable goods
interest, capital consumption allowNondurable goods
All nondurable goods except gasoline and oil, fuel oil and coal, prescripances, and corporate profits before
tion drugs, food furnished employees, food produced on farms, and net
A
foreign remittances
. . .
tax. For net interest and capital conServices
Services covered in economic censuses (primarily hotels and motels;
sumption allowances, the adjustments
automobile repair; beauty salons and barbershops; hospitals; professional services; recreational services; educational services; and welfare
were
made only to the noncorporate
A
services)
B
Financial services furnished without payment by investment companies....
parts. Adjustments for these two components and for nonfarm proprietors'
Gross private domestic investment:
income and rental income of persons
Nonresidential
producers'
durable
A
equipment
All producers' durable equipment except valves
were prepared from information proA
Residential fixed investment
Producers' durable equipment and mobile homes
vided in the IRS Taxpayer CompliChange in nonfarm business inventoance Measurement Program (TCMP).
ries.....
Change in book value for construction* transportation and public utiliB, C
The adjustment for corporate profits
ties* finance insurance and real estate* and services
.
..
before tax was prepared from IRS inCharges against gross national product
formation on the additional tax asAll private industries, except farm, railroad transportation, private
Wages and salaries
D
households and all tips
sessments resulting from audits.
B, C
Contributions to private pension and profit-sharing plans
Other labor income
No adjustments were made in the
c remaining components listed in table
Nonfarm proprietors' income
All industries
2. The noncorporate parts of other
Nonfarm proprietors' capital consumption
C
adjustment
All industries
labor income, business transfer payE
Rental income of persons
Royalties
.
ments, and change in nonfarm invenB, C
Nonfarm nonresidential properties
tories were not adjusted because inCorporate profits before tax
All domestic industries except Federal Reserve banks other federally
formation from the TCMP showed
sponsored credit agencies, and mutual depository institutions; and
B
State and local corporate profit tax accruals
that they were not needed. The corporate parts of these components, the
Corporate capital consumption adjustB
ment . . . . .
All industries
corporate parts of capital consumpNet interest
Domestic net monetary interest of corporations, sole proprietorships, and
tion allowances and of net interest
B, C
partnerships
(including that of investment compaB
Imputed interest paid by investment companies
nies, which also is in personal conB
Imputed interest paid by life insurance companies
sumption
expenditures), and personal
B
Business transfer payments
Corporate donations
dividend income were not adjusted beB, C
Consumer bad debt
cause information on income and exCapital consumption allowances with captial consumption adjustment
B
Corporate capital consumption allowances
pense items was not available from
Nonfarm sole proprietorship and partnership capital consumption allowc the corporate audits. Wages and salaances
Personal income
ries were not adjusted for the use of
Personal dividend income
All domestic industries except Federal Reserve banks other federally
information from employment tax responsored credit agencies, private noninsured pension funds, and
turns because IRS studies did not inB
credit unions
dicate that adjustments were needed.
1. Sources: A - Various reports from the 1977 economic censuses. In these censuses, tax return information is used to define
the universe to be covered and to provide employment, payroll, and receipts data for small firms that are not sent a census report
Finally, components for which the esform.
timates were derived from the ecoB - Statistics of Income—1977, Corporation Income Tax Returns—tabulations of IRS form 1120 series.
C - Statistics of Income—1977, Sole Proprietorship Returns—tabulations of IRS form 1040 schedule C, and Statistics of
nomic censuses were not adjusted beIncome—1977, Partnership Returns—tabulations of IRS form 1065.
cause BEA overlooked the need to
D - Employment and Wages-—1977—tabulations of employment tax returns submitted to State Employment Security Agencies.
E - Statistics of Income—1977, Individual Income Tax Returns—tabulations of IRS form 1040.
make adjustments.
Component
Part of component estimated using tax return information
20
SURVEY OF CURRENT BUSINESS
June 1984
in line 2 of NIPA table 8.10, which
appears in the July issue of the
SURVEY and shows the relationship
The previous adjustments for 1977
between the SOI and NIPA measures
were based on information from the
of nonfarm proprietors' income.
1976 TCMP, which was an intensive
Rental income of persons.—Rental
audit of a random stratified sample of
income of persons was adjusted down
individual income tax returns. The
$1.0 billion for 1977. The adjustment
audits included all types of income repertains to royalties as reported on
ported on individual tax returns and
individual tax returns and rental
the detailed income and expense
income from nonfarm nonresidential
items reported by sole proprietorproperties. For royalties, the adjustships.
ment added $0.3 billion; it was calcuIn general, the BEA adjustment for
lated by multiplying the TCMP audit
each NIPA component was based on
ratio for royalties by the correspondan "audit ratio"—the ratio of the
ing royalties figure from SOL For
amount that the IRS auditors deterrental income from nonfarm nonresimined was misreported for an item to
dential properties, which is obtained
the amount originally reported on the
mainly by subtracting rents received
return. The adjustment was calculatby business from rents paid by busied by multiplying the audit ratio by
ness, the adjustment subtracted $1.3
the total amount for the item as tabubillion. For sole proprietorships and
lated in the 1977 SOL This procedure
partnerships, separate adjustments
were calculated for receipts and for
payments by multiplying the TCMP
Table 3.—BEA Adjustments for Misreporting of Tax Return Information in the National Income audit ratios by the SOI totals. For corporations, no adjustments were calcuand Product Accounts, 1977
lated because the necessary informa[Billions of dollars]
tion was not available. The downward
Adjustments for misreporting
adjustment reflects a larger amount
PrelimiImnary
of underreporting of rents received
Previous
proved
revised
adjust- Revision
adjustestimates
than overreporting of rents paid.
ment
ment
Net interest.—Net interest was ad21.8
21.8
1,976.6
0
Gross national product
justed down $0.5 billion for 1977. The
21.6
21.6
0
1,246.5
Personal consumption expenditures
adjustment, which pertains to mone1.9
0
1.9
184.4
Durable goods
tary interest paid by nonfarm sole
7.5
0
7.5
Nondurable goods
490.5
12.2
12.2
0
Services
.
571.6
proprietorships and partnerships, was
.2
.2
0
336.6
Gross private domestic investment
.2
0
.2
314.9
Fixed investment
obtained by multiplying the TCMP
0
0
0
21.7
Change in business inventories
n.a.
-2.1
n.a.
n.a.
Net exports. ..
audit ratio by the SOI total. No adn.a.
n.a.
395.6
n.a.
Government purchases of goods and services
justment
was made for monetary in57.8
1,972.4
81.5
23.7
Charges against gross national product
terest received by nonfarm sole pro11.3
11.3
1,165.6
0
Compensation of employees
prietorships and partnerships be11.3
0
11.3
994.9
Wages and salaries
170.7
0
0
0
cause, except for a small amount of
79.6
n.a.
n.a.
n.a.
Employer contributions for social insurance
0
0
0
91.1
Other labor income
interest received by noncorporate
59.4
13.0
46.5
151.4
Proprietors' income with inventory valuation and capital consumption adjustments....
20.8
n.a.
n.a.
n.a.
Farm
.
.
businesses
engaged in financial activi59.4
13.0
46.5
130.7
Nonfarm
61.2
14.7
46.5
132.7
Proprietors' income
ties,
all
such
interest in the NIPA's
-1.2
n.a.
n.a.
n.a.
Inventory valuation adjustment
accrues to persons rather than to
-1.7
-1.7
-.8
0
Capital consumption adjustment
10
14.7
-1.0
Rental income of persons with capital consumption adjustment
(*)
business.
-1.0
-1.0
33.8
Rental income of persons
•
.
(*)
n.a.
n.a.
n.a.
-19.1
Capital consumption adjustment
Capital consumption allowances
12.2
12.2
0
166.8
Corporate profits with inventory valuation and capital consumption adjustments
12.2
12.2
194.3
0
Profits before tax
and
capital consumption adjustment
-16.2
n.a.
n.a.
n.a.
Inventory valuation adjustment
0
0
0
-11.3
Capital consumption adjustment
(CCAdj).—The
estimate of capital con.5
.5
107.1
0
Net interest
sumption
allowances,
which is derived
3.0
n.a.
n.a.
n.a.
Less* Current surplus of government enterprises less subsidies....
0
0
0
8.6
Business transfer payments
mainly from depreciation as tabulated
166.0
n.a.
n.a.
n.a.
Indirect business tax and nontax liability
..
in the SOI, was adjusted down $1.7
195.2
n.a.
n.a.
n.a.
Capital consumption allowances with capital consumption adjustment
157.4
-1.7
-1.7
0
Capital consumption allowances
billion
for 1977. The adjustment was
-1.7
-1.7
0
-37.8
Less*. Capital consumption adjustment
....
calculated
by multiplying the TCMP
11.5
57.8
Personal income
1,596.1
69.3
audit
ratio
for depreciation by the
11.3
0
11.3
Wages and salary disbursements
994.9
0
0
0
Other labor income
91.1
SOI
total
for
nonfarm sole proprietor46.5
151.4
59.4
13.0
Proprietors' income with inventory valuation and capital consumption adjustments...
-1.0
Rental income of persons with capital consumption adjustment
-1.0
14.7
ships and partnerships. The $1.7 bil(*)
0
0
0
Personal dividend income
39.6
lion adjustment is reflected also in
-.5
0
Personal interest income
157.2
-.5
0
0
n.a.
Transfer payments to persons
208.4
the CCAdj because the CCAdj is obn.a.
Less* Personal contributions for social insurance
61.3
" n.a.
n.a.
tained as the difference between capn.a. Not applicable.
ital consumption allowances with
*Less than $0.1 billion.
Adjustments based on the TCMP
assumed that (1) the extent of misreporting in 1977 was the same as in
1976, and (2) the extent of misreporting for nonfarm partnerships, which
were not audited in the TCMP, was
the same as that for sole proprietorships.
Nonfarm proprietors' income.—Nonfarm proprietors' income was adjusted
up $14.7 billion for 1977. For each industry, separate adjustments were
calculated for gross receipts and for
total expenses (gross receipts less net
income) by multiplying the TCMP
audit ratios by the totals of receipts
and of expenses for sole proprietorships and partnerships from the 1977
SOL The adjustment for nonfarm proprietors' income was then obtained as
the difference between the adjustments for gross receipts and for total
expenses. The adjustment is included
June 1984
CCAdj, which is not based on tax
return information, and capital consumption allowances.
SURVEY OF CURRENT BUSINESS
21
dividuals failed to file tax returns was
developed from the Census Bureau's
evaluation of the coverage of its surveys.
that approximates the concept used4 in
the NIPA's—than for gross profits.
The IRS view about the extent of
underreporting of business receipts
tends to be confirmed by evaluation
studies of the 1977 economic censuses.
For these studies, the Census Bureau
conducted special surveys that collected receipts for samples of small firms
for which tax return information had
been used in the economic censuses.
The receipts as reported in these surveys were compared with receipts as
reported on a firm's tax return. These
comparisons showed that small firms
consistently reported larger receipts
to the Census5 Bureau than they reported to IRS. The underreporting of
receipts to IRS indicated in the surveys was about the same as the total
underreporting indicated by the IRS
research.
Adjustment based on corporate audits
Underreporting on income tax returns
The previous adjustment for misreporting increased the estimate of corporate profits before tax by $12.2 billion for 1977. It is included in line 2 of
NIPA table 8.12, which shows the relationship between the SOI and NIPA
measures of corporate profits. It was
based on IRS information on additional tax assessments for 1977, and was
calculated in two parts: for corporations reporting a profit and for those
reporting a loss.
For corporations reporting a profit,
the adjustment was calculated as follows: (1) The value of the IRS auditor's recommended assessment per
return, classified by corporate asset
size, was reduced by the overall ratio
of actual settlements to recommendations to derive actual settlements. (2)
The estimates of actual settlements
were "blown up" to universe totals by
multiplying them by the number of
corporate tax returns with income, by
size class, as published in SOL (3) The
estimated universe totals of settlements were divided by the applicable
corporate tax rate to obtain the estimate of additional profits.
For corporations reporting a loss,
the adjustment was calculated by
multiplying total losses, as published
in SOI, by an estimate, based on fragmentary information from IRS, of the
percentage by which losses were reduced during audit.
Nefw Information on
Misreporting
Studies at IRS and the Census
Bureau have provided new information about the extent of underreporting on tax returns and of the failure
to file income and employment tax returns. The information about the
extent of underreporting was from
IRS research on the TCMP auditors'
ability to detect unreported income in
1976, and from an IRS examination of
the underreporting of wages and salaries on the employment tax returns
in the 1979 TCMP. Information on
the extent to which businesses and in-
The starting point of the IRS research was the TCMP-Information Returns Program (the TCMP-IRP).3 In
this study, conducted after the 1976
TCMP audits were completed, IRS
used information returns to assess the
auditors' ability to detect unreported
income. Information returns are reports that must be filed with IRS by
payers of certain types of income—for
example, form W-2 for wages and salaries paid by employers and form
1099 for interest paid by banks. For a
sample of tax returns included in the
1976 TCMP, IRS compared the
amount of each type of income reported on these forms with that reported
by the taxpayer and established by
the auditor. The study showed that,
for the income types covered—mainly
wages and salaries, interest, and dividends—the TCMP auditors detected
$1 of every $4 of unreported income.
IRS conducted additional research
on income types not included in the
TCMP-IRP study. For business incomes (mainly rental income and incomes of partnerships, sole proprietorships, and small business corporations), IRS concluded that auditors detected $1 of every $3% of unreported
gross profits—that is, gross receipts
less cost of goods sold. Because IRS
audit studies indicated that businesses that understated receipts also understated cost of goods sold in order to
avoid reporting a suspicious sales/
gross profits relationship, IRS further
concluded that auditors detected similar proportions of both unreported
gross receipts and unreported cost of
goods sold. In contrast, for deductions—that is, expenses other than
cost of goods sold—IRS concluded that
the auditors were able to detect all
overreporting. From these conclusions, it can be inferred that auditors
detected a higher proportion of misreporting for net income—that is, gross
profits less deductions, an aggregate
3. For a synopsis of the TCMP-IRP, see table 2 in
Carson, "Underground Economy."
Underreporting on employment tax returns
In the 1979 TCMP, IRS audited the
reporting of wages and salaries by
sole proprietorships and by small corporations (those with assets of less
than $10 million) on the return used
to report Federal unemployment insurance taxes (form 940). The auditors
detected both underreporting on, and
failure to file, these returns. The information on wages and salaries reported on these returns is essentially
the same as that reported to the State
Employment Security Agencies (and
used by BEA for the NIPA estimates).
Because of administrative links between the Federal and State unemployment insurance programs, it
seems likely that the audit ratio for
the Federal returns in the 1979
TCMP is applicable to the returns
filed with the State agencies. It
should be noted that IRS has not assessed the auditors' ability to detect
misreporting on the employment tax
returns, as it did for income tax returns in the TCMP-IRP study.
4. The TCMP-IRP study and subsequent research at
IRS are described in U.S. Department of the Treasury,
Internal Revenue Service, Income Tax Compliance Research: Estimates for 1973-1981 (July 1983), pp. 51-57.
5. Carol S. King and Edward K. Ricketts, "Evaluation of the Use of Administrative Record Data in the
Economic Censuses," paper presented at the 1980
annual meeting of the American Statistical Association, Houston, Texas, August 11-14, 1980.
22
SURVEY OF CURRENT BUSINESS
June 1984
Table 4.—Sources of Revision in BEA Adjustments for Misreporting of Tax Return Information
in the National Income and Product Accounts, 1977
income tax returns. The examination
showed that employers who did not
file an income tax return also did not
file an employment tax return.
[Billions of dollars]
Sources of revision
Components derived from tax return information
Revision
Employment tax
returns
Income tax
returns
Filer
adjustment
Nonfiler
adjustment
Filer
adjustment
Nonfiler
adjustment
Gross national product
21.8
11.0
10.8
n.a.
n.a.
Personal consumption expenditures
Fixed investment
Change in business inventories
21.6
.2
0
10.9
.1
0
10.8
.1
0
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
57.8
38.5
8.0
7.6
3.6
11.3
0
46.5
(*)
0
0
0
n.a.
0
38.5
(*)
0
0
0
n.a.
0
8.0
0
0
0
0
7.6
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
3.6
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
57.8
38.5
8.0
7.6
3.6
11.3
0
46.5
(*)
0
0
0
n.a.
0
38.5
(')
0
0
0
n.a.
0
8.0
0
0
0
0
7.6
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
3.6
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
Charges against gross national product
Wages and salaries
Other labor income
Nonfarm proprietors' income with IVA and CCAdj
Rental income of persons with CCAdj
Corporate profits with IVA and CCAdj
Net interest
Business transfer payments
Personal income
Wage and salary disbursements
Other labor income
Nonfarm proprietors' income with IVA and CCAdj
Rental income of persons with CCAdj
Personal dividend income
Personal interest income
Business transfer payments
IVA Inventory valuation adjustment.
CCAdj Capital consumption adjustment,
n.a. Not applicable.
'Less than $0.1 billion.
Nonfiling of tax returns
For incomes earned by persons in
1972 and in 1977, the Census Bureau
evaluated the reporting in the annual
income supplement to the Current
Population Survey (CPS). For each
year, Census prepared "exact-match"
files of CPS records, selected items
from individual income tax returns,
and earnings and benefits from Social
Security
Administration
(SSA)
records.6 From these files, tabulations
were prepared of the incomes of "nonfilers," that is, persons who did not
file an income tax return, but who
earned income as evidenced by the information they supplied to the CPS.
(Persons who filed a tax return were
classified as "filers," even if they did
not report to IRS all the income types
that they reported to the CPS.) BEA
6. For a synopsis of the exact match, see table 2 in
Carson, "Underground Economy." For technical descriptions of the 1972 and 1977 studies, respectively,
see U.S. Department of Health and Human Services,
SSA, "Methods of Estimation for the 1973 ExactMatch Study," by Frederick Scheuren, H. Lock Oh,
Linda Vogel, and Robert Yuskavage, Report No. 10,
Studies from Interagency Data Linkages, Publication
No. 13-11750, and U.S. Department of Commerce,
Bureau of the Census, Current Population Survey
(CPS); Social Security Summary Earnings (SER) ExactMatch File, March 1978, Machine-Readable Data File
and Technical Documentation (1981).
used the tabulation of nonfarm sole
proprietorship
and
partnership
income.
Another evaluation study of the
1977 economic censuses, which provided an indirect check on the procedures used in the exact match, tended
to confirm the extent of nonfiling of
income tax returns by nonfarm sole
proprietorships and partnerships.7 Information from the study established
that the extent of nonfiling in the
exact-match files was consistent with
the shortfall in the universe established by the Census Bureau on the
basis of tax return information provided by IRS.
Information about the failure of
sole proprietorships and partnerships
to file employment tax returns came
from an examination by BEA of this
evaluation study together with the
exact match. The study identified
firms that failed to file reports in the
economic censuses, that is, firms that
were not in the universe because they
had filed neither income nor employment tax returns. The exact match
identified firms that had not filed
7. U.S. Department of Commerce, Bureau of the
Census, "Survey of Sole Proprietors," by Kirk M.
Wolter, 1977 Economic Census Evaluation Study C3
(December 1982).
Improved Adjustments
The information described in the
previous section was used to develop
or improve adjustments for five NIPA
components. These adjustments—
which are for wages and salaries, nonfarm proprietors' income, rental
income of persons, personal consumption expenditures, and fixed investment—are shown in table 3 in the
column labeled "improved adjustment."
The adjustments for the noncorporate parts of net interest and capital
consumption allowances and for corporate profits before tax were not revised because no additional information was available. For these adjustments, the improved and previous adjustments shown in table 3 are the
same. For the remaining components
or parts of components derived from
tax return information, either new information indicated that adjustments
were not needed or information was
not available on which to base an adjustment.
The contribution of each type of
new information to the revisions in
the adjustments is shown in table 4.
Under the heading "income tax returns," the column labeled "filer adjustment" shows the revision based on
the information on underreporting
provided by the IRS research that
was related to the 1976 TCMP-IRP
study. The column labeled "nonfiler
adjustment" shows the revision ba.sed
on the information on nonfiling provided by the Census Bureau exactmatch study. Under the heading "employment tax returns," the column labeled "filer adjustment" shows the revision based on the information on
underreporting provided by the 1979
TCMP audit, and the column labeled
"nonfiler adjustment" shows the revision based on the information provided by BEA's examination of the evaluation study and the exact match.
Wages and salaries
The adjustment for misreporting increased wages and salaries $11.3 bil-
June 1984
lion. The filer adjustment contributed
$7.6 billion and the nonfiler adjustment, $3.6 billion.
Filer adjustment.—The filer adjustment was based on the 1979 TCMP
audit of employment tax returns. It
was calculated in two steps and provided separate adjustments for wages
and salaries paid by nonfarm sole proprietorships and partnerships and by
corporations. The first step consisted
of applying an audit ratio to BEA's
estimates of wages and salaries.8 For
sole proprietorships and partnerships,
the ratio was from the TCMP for sole
proprietorships. For corporations,
BEA derived an audit ratio, because
the TCMP audit ratio covered only
small corporations. The ratio was
based on the assumption that large
corporations fully report wages and
salaries on employment tax returns.
It was calculated by dividing the
amount of wages and salaries that the
TCMP auditors determined was underreported by small corporations by
the BEA estimate of wages and salaries for all nonfarm corporations. It
was assumed in the derivation that (1)
the audit ratios for 1979 apply to
1977, and (2) the audit ratio for nonfarm sole proprietorships applies to
partnerships.
In the second step, BEA made an
allowance for the likelihood that the
TCMP auditors did not detect all underreporting. It was apparent that the
allowance should be at least as much
as that found for underreported
income in the TCMP-IRP study ($1
detected of every $3% of unreported
income) and that the allowance
should compensate for the TCMP
auditors' lack of experience with emplqyment tax returns. Therefore, an
allowance of $1 of every $5 was applied to sole proprietorships and partnerships and to small corporations.
Nonfiler adjustment.—The nonfiler
adjustment was based on BEA's finding that the sole proprietorships and
partnerships (with employees) who
did not file an income tax return also
did not file an employment tax
return. It was calculated indirectly
because information on wages paid by
nonfilers was not available in the
exact match. Starting with the net
income of nonfilers in the exact
8. Wages and salaries by legal form of organization
are published in NIPA table 1.12 in the July SURVEY.
SURVEY OF CURRENT BUSINESS
match, BEA first estimated receipts.
The estimate was made by multiplying the net income of nonfilers in
each industry by the ratio of receipts
to net income for sole proprietorships
and partnerships with income from
the 1977 SO/.9 The estimate of wages
and salaries of nonfilers was then
made by multiplying the estimated
receipts by the ratio of payroll to receipts for small firms. For industries
included in the 1977 economic censuses, the ratio was calculated using
information on small firms. For other
industries, it was calculated using
census SOI information for small sole
proprietorships and partnerships.
This adjustment is limited to sole
proprietorships and partnerships that
did not file an income tax return. An
adjustment for sole proprietorships
and partnerships and small corporations that filed an income tax return,
but not an employment tax return, is
included in the filer adjustment.
Nonfarm proprietors9 income
23
Filer adjustment.—The filer adjustments to royalties and to rental
income from nonfarm nonresidential
properties were revised to reflect the
IRS conclusion that the TCMP auditors detected $1 of every $3 Vz of unreported income. The improvements,
which each amounted to $0.7 billion,
were offsetting. For royalties, the revision was calculated by multiplying
the previous adjustment, which represented the amount detected by auditors, by 2%. For rental income from
nonfarm nonresidential properties,
which—as noted earlier—is obtained
mainly by subtracting rents received
by business from rents paid by business, the revision was calculated by
multiplying the previous adjustment
for rents received by 2l/2. The adjustment for rents paid was not revised
because IRS concluded that the
TCMP auditors detected all overreporting of deductions.
Nonfiler adjustment.—No improvement was possible because of lack of
information.
The revision in the adjustment in- Personal consumption expenditures
creased nonfarm proprietors' income
The adjustment increased personal
$46.5 billion. The filer adjustment consumption expenditures (PCE) $21.6
contributed $38.5 billion and the non- billion. The filer adjustment contribfiler adjustment, $8.0 billion.
uted $10.9 billion and the nonfiler adFiler adjustment.—The filer adjust- justment, $10.8 billion.
ment was based on the IRS conclusion
PCE is affected by the misreporting
that the TCMP auditors detected $1 of the tax return information that is
of every $3V2 of unreported gross prof- used in the economic censuses. As
its. Because the TCMP audit ratio noted previously, this information is
used in BEA's previous adjustment used by the Census Bureau to define
accounted for gross profits detected in the universe and to provide data on
the audit, the revision reflects only small firms that are not sent a census
the undetected amount. The revision report form. Consequently, the census
was calculated by multiplying the figures are understated because busi1976 TCMP audit ratio for gross prof- nesses that do not file tax returns are
its by the total for sole proprietor- not included and because some small
ships and partnerships from the 1977 firms misreport on their tax returns.
SOI and multiplying the result by
The misreporting of concern to
2%.
BEA is that 10of sales as compiled in
Nonfiler adjustment.—The nonfiler the censuses. The effect of the misadjustment was based on the exact reporting on PCE was determined in
match. It is the total of net income es- preparing the input-output (I-O)
timated in the GPS for nonfarm sole tables for 1977, which provided the
proprietorships and partnerships that basis for the preliminary revised
failed to file income tax returns.
NIPA's. Sales figures from the censuses were used in the I-O tables to
establish output by industry, part of
Rental income of persons
The revision in the adjustment had
no effect on rental income of persons.
9. The ratio for businesses with income was used because the Genus Bureau tabulations of nonfiler net
income included few businesses with losses.
10. In this context, the term "sales" refers to the following items published in the economic census reports: for wholesale and retail trade, sales; for mining
and manufacturing, shipments; and for services, receipts.
24
SURVEY OF CURRENT BUSINESS
Fixed investment
Table 5.—BEA Adjustments to Sales, Output, and GNP for Misreporting of Tax Return
Information, 1977
[Billions of dollars]
GN P
Sales
Total
Total, all industries for which economic census data were
used to derive NIPA estimates
Mining
522
(*)
Filers
286
(*)
Nonfilers
266
0
Output
Total
Personal
consumption
expenditures
336
218
216
o
0
(*)
Manufacturing
1.8
.6
1.2
1.8
.7
.6
Wholesale trade
4.2
1.5
2.7
.4
.1
.1
Retail trade
271
15.3
11.8
9.3
8.8
8.6
Services
221
11 1
110
221
122
12.2
Fixed
investment
Other
02
0
0
0
.1
June 1984
The adjustment increased fixed investment (specifically, producers' durable equipment—both residential
and
nonresidential—and
mobile
homes) $0.2 billion; the filer and nonfiler adjustments each contributed
$0.1 billion. The adjustments were
calculated in the same way as those
for PCE.12
0
0
(*)
.1
0
0
0
Evaluation of the Improved
Adjustments
'Less than $0.1 billion.
which is purchased by persons. The
effects of misreporting on sales and
on PCE differ; the effect on PCE is
much smaller than the effect on sales
for two reasons. First, misreporting of
sales by trade firms, which is large,
does not directly affect industry
output. Second, only part of the misreported sales was purchased by persons.
The adjustment to PCE was derived
by BEA in three steps. (1) Adjustments were estimated for the Census
Bureau's sales figures using information from the IRS studies and the
exact match. (2) These adjustments
were used to estimate adjustments to
output by industry in the I-O tables.
(3) From the adjustments for industry
output, adjustments for PCE were obtained.
Adjustments to sales.—The adjustments to sales are shown by industry
in table 5. The adjustments for underreporting by small firms, shown in
the table as the "filer adjustment,"
were derived using information from
the IRS studies. For each industry,
the adjustment was calculated by (1)
multiplying sales of small firms, both
corporate and noncorporate, that the
Census Bureau derived from tax
return information by the 1976 TCMP
audit ratio for nonfarm sole proprietorships, and (2) multiplying that
result by 3l/z to allow for the failure
of the TCMP auditors to detect all underreporting. For retail trade and
services, in which small proprietorships are more than proportionally
represented, the audit ratio was increased, because the TCMP indicated
that small proprietorships understate
receipts to a larger degree than other
proprietorships.
The adjustments for the failure of
businesses to file tax returns, shown
in the table as the "nonfiler adjustment," were derived from the exact
match. For each industry, the sales of
nonfilers were estimated by multiplying the net income of nonfilers in the
exact match by the ratio of receipts to
net income for sole proprietorships
and partnerships with income from
the 1977 SO/.11
Both adjustments were prepared at
a broad industry level and then were
disaggregated to the more detailed industry level of the I-O tables using
information from the economic censuses.
Adjustments to industry output.—In
general, for industries in the I-O
tables, output consists of sales plus
change in inventory, and the adjustment to output is the same as that for
sales. For trade, output is defined as
the margin on sales, that is, sales less
cost of goods sold. The adjustment for
the output of trade was obtained by
multiplying the adjustment for sales
by the margin rate.
Adjustments to PCE.—The adjustments to PCE depended on how much
of the adjustments to industry output
were purchased by persons. They
were calculated for each industry by
multiplying the industry output adjustment by the ratio of the PCE portion of the industry's output to the industry's total output.
11. See footnote 9.
This section discusses possible
errors in the improved adjustments
for 1977 and the problems involved in
extending them to earlier and later
periods for incorporation in the
NIPA's in the comprehensive revision
scheduled for the end of 1985.
Because the adjustments are based
on information that is incomplete
and, in some cases, of questionable
quality, they are subject to substantial error. In the aggregate, however,
it appears that the adjustments to
GNP, charges against GNP, and personal income are as likely to be overstated as understated.
Omitted adjustments
One kind of error stems from the
omission of adjustments for which information is not available. Filer adjustments were not made for the
NIPA components that are derived
from detailed income and expense
items reported on corporate tax returns. Such adjustments would probably reduce charges against GNP, and
personal income, because, in most
cases, the items that have not been
adjusted are deductions that IRS studies show tend to be overreported.
Nonfiler adjustments were not made
for corporations. Such adjustments
would probably slightly increase GNP
and charges against GNP.
For noncorporate nonfilers, adjustments were made only to wages and
salaries, nonfarm proprietors' income,
PCE, and fixed investment. Adjust-
12. No adjustments were required for the other components of GNP because they are not based on tax
return information.
June 1984
ments to noncorporate parts of other
components of charges against GNP
and personal income, if they could be
made, would probably be small and
net close to zero.
On balance, the adjustments to
charges against GNP and personal
income are probably overstated, because the omitted corporate filer adjustments outweigh the omitted nonfiler adjustments. The adjustment to
GNP is understated to the extent that
corporations do not file tax returns.
Filer adjustments
SURVEY OF CURRENT BUSINESS
Second, these adjustments assume, as
may not be the case, that the extent
of unreported income not detected by
auditors is the same across industries.
This assumption was necessary because there is no industry information. The assumption may lead to
error in the adjustments because the
proportion of sales to persons and
business on capital account varies
across industries. The size and direction of the error is unknown.
Given what is known about the
errors described above, the adjustments to the NIPA aggregates are as
likely to be overstated as understated.
Filer adjustments are subject to several kinds of error, First, information Nonfiler adjustments
Several kinds of error stem from
is insufficient to evalute the IRS conclusion that auditors detected $1 of the use of exact-match studies, in
every $3V2 of unreported businesss which responses to the CPS are critiincome. Thus, to the extent that the cal. Some CPS respondents may not
adjustments were based on this con- have properly identified themselves
clusion, they are subject to error of as self-employed. To the extent that
unknown size and direction. Second, these respondents failed to file income
because it was assumed that the 1976 tax returns, the adjustments are unaudit ratios apply to 1977, the adjust- derstated. The incomes imputed by
ments are misstated to the extent the Census Bureau for the substantial
that tax evasion relevant to the ad- number of respondents who identified
justments changed from 1976 to 1977. themselves as self-employed but did
Third, the adjustments are probably not report their incomes may be too
overstated because, contrary to the high. This probability is suggested by
assumption that the audit experience a BEA comparison of the imputed inof partnerships was the same as that comes with the reported incomes. To
for sole proprietorships, misreporting the extent that the imputations are
on a partnership tax return is less too high, the adjustments are overlikely.
stated.
The filer adjustments for PCE and
Three kinds of error relate to indusfixed investment are subject to addi- try classification. First, evidence sugtional errors. First, these adjustments gests that some CPS respondents inassume—contrary to IRS evidence correctly classified their businesses as
that the audit ratio for small corpora- nonfarm.13 Such misclassification
tions is much smaller than that for leads to overstatement of the adjustsole proprietorships—that the audit ments. Second, some CPS respondexperience for small corporations was ents, to cover up their involvement in
the same as for sole proprietorships. illegal activities, claimed that they
This IRS evidence could not be used were engaged in a legal business.
in calculating the adjustment because Such responses lead to overstatement.
sales figures for small firms by legal Third, any industrial classification
form of organization were not avail13. See footnote 7.
able from the economic censuses.
445-525 O - 84 - 4
25
errors within nonfarm activity are reflected in additional errors in the adjustments to PCE and fixed investment. The size and direction of such
errors are unknown.
As was the case with the filer adjustments, the nonfiler adjustments to
the NIPA aggregates are as likely to
be overstated as understated.
Time series estimates
Less information will be available
for extending the adjustments to
years before and after 1977 than was
available for the 1977 adjustments. It
is anticipated that an exact-match
study for 1982 will provide information on nonfiling and that TCMP's
and corporate audits will provide information on underreporting. However, the TCMP-IRP results led IRS to
change its procedures for noncorporate audits after 1976, and it appears
that since then the TCMP auditors
have been detecting more unreported
income than previously. Thus, it will
be necessary for BEA to adapt its
methodology to use the more recent
TCMP's. To the extent that more upto-date information is not available,
post-1977 adjustments will be extrapolations that hold the proportions of
underreported income constant. The
adequacy of this procedure depends
on the extent to which misreporting
is stable. It may be that the types of
misreporting for which the NIPA's
should be corrected are more stable
than some other types; that is, misreporting may be more stable on business tax returns than on individual
tax returns.
The adjustments for years before
1977 will need to reflect the less widespread use of tax return information
in earlier years. Before 1959, tax
return information was not used to
estimate major parts of nonfarm proprietors' income. Also, before 1963, it
was not as widely used in the economic censuses.
By EUGENE P. SESKIN and J. STEVEN LANDEFELD
Plant and Equipment Expenditures,
the Four Quarters of 1984
Bi
BUSINESS plans to spend $309.0
billion for new plant and equipment
in 1984, 14.8 percent more than in
1983, according to the BEA quarterly
survey conducted in late April and
May (tables 1 and 2, and chart 2).1
1. The series consists of business expenditures for
new plant and equipment (P&E)—both for replacement and expansion—by U.S. companies for their domestic operations, including most costs that are
chargeable to fixed asset accounts and for which depreciation or amortization accounts are ordinarily
maintained. The series excludes expenditures for land
and mineral rights; maintenance and repair; used
plant and equipment, including that purchased or acquired through mergers or acquisitions; assets located
in foreign countries; residential structures; and a few
other items.
The coverage of the series and the pattern of estimates differ from those of the nonresidential fixed investment (NRFI) component of GNP. The major differences in coverage are the inclusion in the GNP component of investment by the farm sector, real estate,
professional and medical services, and certain other
nonmanufacturing industries; certain outlays charged
as current expenses by business; reimbursable expenditures for new motor vehicles purchased by employees
for business use; and certain transactions in used
plant and equipment. The pattern of estimates may
differ due to timing; the NRFI series reflects construction put in place and shipments of equipment, whereas the P&E series reflects expenditures.
Spending was $269.2 billion in 1983,
4.8 percent less than in 1982.
The latest estimate of planned
spending for 1984 is $2.2 billion
higher than the comparable estimate
based on the survey conducted in late
January and February and released
in March. That survey showed
planned spending of $306.8 billion for
1984, 14.0 percent more than 1983
spending.2
2. Spending plans have been adjusted for systematic
reporting biases. The adjustments were made for each
industry for each quarter of the year by taking the
median deviation between planned and actual spending for that quarter in the preceding 8 years. Before
adjustment, planned spending for 1984 was $306.29
billion for "all industries," $132.90 billion for manufacturing, and $173.39 billion for nonmanufacturing.
The net effect of the adjustments was to lower manufacturing $4.14 billion and to raise nonmanufacturing
$6.83 billion.
Real spending is estimated to be
$146.0 billion in 1984, 14.8 percent
more than in 1983; real spending declined 3.9 percent in 1983 (tables 3
and 4). Estimates of real spending are
computed from the survey data on
current-dollar spending plans and
from estimated changes in capital
goods price deflators prepared by
BEA.3 The latest deflators developed
by BEA indicate that capital goods
prices declined 0.9 percent in 1983
3. Specifically, the current-dollar figures reported by
survey respondents are adjusted using implicit price
deflators for each industry group prepared by BEA
based on unpublished data in the national income and
product accounts. To estimate planned real spending,
the implicit price deflators for each industry are extrapolated using the average rate of change during
the latest four quarters for which they are available.
Table 1.—Expenditures for New Plant and Equipment by Business: Percent Change From
Preceding Year
All industries 3
Manufacturing
Changes in the BEA Plant and
Equipment Survey
The estimates in this article reflect reduced industry coverage in the Plant and
Equipment Survey. Beginning with the
April-May survey, estimates—except
annual estimates from the January-February survey published each March—will
no longer include the following nonmanufacturing industries: forestry, fisheries,
and agricultural services; medical services; professional services; social services
and membership organizations; and real
estate. These industries account for approximately 10 percent of total nonfarm
plant and equipment expenditures. In addition, separate estimates of plant and of
equipment expenditures are no longer
published each quarter; annual estimates
will be published each March. Also, information is no longer published on capacity utilization or on starts and carryover. (For further information, see page
29 of the January 1984 SURVEY OF CURRENT BUSINESS.)
Durable goods
Primary metals 4
Blast furnaces, steel works
Nonferrous metals
Fabricated metals
Electrical machinery
Machinery except electrical
Transportation equipment 4
Motor vehicles
Aircraft
Stone, clay, and glass
Other durables
<
Nondurable goods
Food including beverage
Textiles
Paper
Chemicals
Petroleum
Rubber
Other nondurables
Nonmanufacturing 3
Mining
1983
19i34
Actual
Planned1 Planned2
— 2.3
-4.8
14.0
14.8
—5.6
-6.8
16.3
15.5
— 8.7
— 8.3
21.2
18.6
81
9.7
-217
-12.4
2.9
26
-17.6
21 5
60
-17.0
100
— 14.4
-14.5
-10.2
-14.2
2.6
-42
-14.1
-9.4
184
-6.0
13.2
10.2
12.1
15.7
23.7
19.3
27.9
34.0
204
14.7
19.0
11.8
9.6
10.5
13.9
23.5
12.8
26.4
38.9
108
9.5
16.9
2.6
— 5.5
12.0
12.7
-5.8
146
-11.1
-2.4
5
-3.4
0
-14.7
4.2
3.5
.1
-12.0
11.9
59
2.5
28.4
15.4
8.0
12.9
15.4
18.6
7.5
24.4
16.0
13.5
10.4
17.5
176
Transportation
Railroad
Air
Other
Public utilities
Electric
Gas and other
Commerical and other
-132
-3.3
12.3
14.3
-23.5
21.3
18.1
8
33
32
91
63
-10.6
40
36
72
20.7
262
282
69
25.0
292
255
93
12.3
12
.1
4.8
181
6.6
1.6
320
7.1
1.7
342
14.3
17.9
.3
. .
1. Plans reported by business in January and February 1984.
2. Plans reported by business in April and May 1984.
26
. ..
1982
Actual
-8.4
-1.7
-1.1
3. Surveyed quarterly.
4. Includes industries not shown separately.
27
SURVEY OF CURRENT BUSINESS
June 1984
and will remain unchanged in 1984.
The deflators prepared in March, adjusted to the reduced industry coverage, indicated that capital goods
prices would increase 1.2 percent in
1984. The latest projection of 1984
capital goods prices incorporates revised estimates of price levels in the
fourth quarter of 1983, the decline in
capital goods prices in the first quarter of 1984, and a shift to purchases of
capital goods with relatively lower
prices. (If the previous estimates of
capital goods prices were used to
adjust the latest survey results, a
13.4-percent increase in real spending
would be indicated for 1984.)
Current-dollar spending in the first
quarter of 1984 increased 3.2 percent
to an annual rate of $293.1 billion, fol-
lowing a 5.2-percent increase in the 1984 would result in spending at or
fourth quarter of 1983; first-quarter above the prerecession peaks for the
spending was 1.1 percent lower than major industry groups shown except
planned spending reported 3 months for mining and transportation (table
ago. Plans reported in the latest 5). First-quarter spending for "all insurvey indicate a 3.6-percent increase dustries" was at an annual rate of
in the second quarter of 1984, a 3.5- $138.5 billion, 3.3 percent below the
percent increase in the third, and a prerecession peak of $143.2 billion in
the third quarter of 1981 (chart 3).
3.2-percent increase in the fourth.
Real spending increased 3.6 percent The planned increases during 1984, if
in the first quarter of 1984, following realized, would result in fourth-quara 4.6-percent increase in the fourth ter spending at an annual rate of
quarter of 1983. Estimates indicate a $153.3 billion, 7.0 percent above the
3.6-percent increase in the second prerecession peak. Manufacturers
quarter of 1984, a 3.6-percent increase plan spending in the fourth quarter
in the third, and a 3.1-percent in- at an annual rate of $62.0 billion,
which—as a result of the 17.7-percent
crease in the fourth.
The first-quarter increase in real peak-to-trough decline during the last
capital spending and the planned in- recession—is only 1.4 percent above
creases in the remaining quarters of the prerecession peak of $61.2 billion
Table 2.—Expenditures for New Plant and Equipment by Business in Current Dollars
Billions of dollars; quarters seasonally adjusted at annual rates
1984
1983
All industries 2
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, and4 glass
Other durables
Nondurable goods
Food including beverage
Textiles
Paper
Chemicals
Petroleum
Rubber
Other nondurables 5
Nonmanufacturing 2
'..
:
1982
1983
282.71
269.22
308.98
261.71
119.68
111.53
128.76
109.86
56.44
7.46
3.47
2.71
2.59
10.62
12.89
15.16
7.92
6.04
2.61
5.13
51.78
6.39
2.97
2.44
2.22
10.90
12.35
13.02
7.17
4.93
2.45
4.45
61.40
7.14
3.25
2.69
2.53
13.45
13.93
16.46
9.96
5.46
2.68
5.21
63.23
7.74
1.33
5.97
13.27
26.69
1.71
6.52
59.75
6.60
1.39
6.18
13.28
23.48
1.91
6.91
II 1
III 1
IV 1
293.15
303.79
314.52
324.45
122.78
126.00
130.41
135.86
54.85
6.31
2.79
2.55
2.29
11.46
13.34
14.39
8.76
4.69
2.53
4.54
58.94
6.82
3.00
2.74
2.33
12.57
13.04
16.47
10.25
5.16
2.64
5.07
58.28
7.09
3.29
2.66
2.53
12.66
13.25
15.02
9.35
4.74
2.60
5.12
63.39
7.20
3.37
2.56
2.58
14.39
14.26
16.67
9.97
5.72
2.65
5.64
65.00
7.45
3.36
2.80
2.70
14.19
15.16
17.67
10.27
6.21
2.84
4.99
58.06
6.47
1.42
6.18
12.69
22.56
1.87
6.87
61.50
6.82
1.58
6.24
13.80
23.65
2.13
7.28
63.84
6.69
1.68
6.93
14.96
23.55
2.27
7.76
67.72
7.13
1.70
7.20
14.92
26.73
2.17
7.87
67.02
7.02
1.75
7.13
14.62
26.31
2.16
8.03
70.86
7.53
1.75
7.42
15.81
27.11
2.38
8.86
III
IV
261.16
270.05
283.96
108.79
111.12
116.36
50.74
6.67
3.01
2.53
2.11
10.77
11.99
12.70
6.56
5.15
2.32
4.18
48.48
6.02
2.87
2.17
2.23
10.15
11.69
11.57
6.00
4.63
2.42
4.40
53.06
6.55
3.21
2.48
2.27
11.21
12.38
13.41
7.36
5.23
2.54
4.69
67.36
7.09
1.72
7.17
15.08
25.93
2.25
8.13
59.12
6.65
1.31
6.02
13.46
23.21
1.69
6.79
60.31
6.45
1.24
6.30
13.17
24.49
1.96
6.70
I
II
I
163.03
157.69
180.22
151.85
152.38
158.93
167.60
170.37
177.79
184.11
188.59
Mining
15.45
11.83
13.97
12.03
10.91
11.93
12.43
13.95
13.32
14.14
14.47
Transportation
Railroad...
Air
Other
1
Public utilities
Electric.
Gas and other
11.95
4.38
3.93
3.64
11.20
3.92
3.77
3.50
11.97
4.90
2.67
4.40
11.04
3.35
4.09
3.60
10.88
3.64
4.10
3.14
11.00
4.07
3.57
3.36
11.86
4.63
3.32
3.91
11.46
4.41
2.77
4.28
12.13
5.12
2.69
4.32
12.32
5.40
2.57
4.35
11.96
4.67
2.65
4.64
41.95
33.40
8.55
42.00
34.99
7.00
44.98
35.58
9.40
41.61
33.97
7.64
41.48
34.86
6.62
42.22
35.84
6.38
42.69
35.31
7.37
43.62
35.74
7.87
44.43
35.12
9.31
45.13
35.38
9.75
46.74
36.07
10.67
93.68
22.19
21.55
21.60
28.34
92.67
25.89
21.69
19.09
25.99
109.30
87.17
23.25
20.71
18.20
25.02
89.10
25.47
20.70
18.87
24.05
93.79
26.86
22.52
19.70
24.71
100.62
27.99
22.84
19.59
30.20
101.35
29.65
24.83
21.41
25.46
107.92
112.52
115.42
316.43
119.68
196.75
163.03
33.72
302.50
111.53
190.97
157.69
33.28
128.76
109.86
108.79
111.12
116.36
122.78
126.00
130.41
135.86
180.22
151.85
152.38
158.93
167.60
170.37
177.79
184.11
188.59
Commercial and other
Wholesale and retail trade
Personal and business services 6
Communication
Addenda: 7
Total nonfarm business 8
Manufacturing
Nonmanufacturing
Surveyed quarterly
y
y
1. Estimates are based on planned capital expenditures reported by business in late April and
May 1984. The planned expenditures are adjusted for systematic biases in reporting. The adjustment procedures are described in the October 1980 SURVEY OF CURRENT BUSINESS. Before bias
adjustment, current-dollar plans for 1984 were $306.29 billion for "all industries," $132.90 billion
for manufacturing, and $173.39 billion for nonmanufacturing surveyed quarterly.
2. Surveyed quarterly.
3. Includes industries not shown separately.
4. Consists of lumber, furniture, instruments, and miscellaneous.
5. Consists of apparel, tobacco, leather, and printing-publishing.
6. Includes construction.
7. Quarterly estimates for selected nonmanufacturing industries were discontinued effective
with the April-May 1984 survey. The latest estimates for these industries were included in the
estimates published in the March 1984 SURVEY. The current-dollar plans for 1984 were $343.57
billion for total nonfarm business, $213.86 billion for total nonmanufacturing and $36.77 billion
for nonmanufacturing surveyed annually.
8. "All industries" plus the part of nonmanufacturing that is surveyed annually.
9. Consists of forestry, fisheries, and agricultural services; medical services; professional services; social services and membership organizations; and real estate.
28
SURVEY OF CURRENT BUSINESS
in the first quarter of 1981. Nonmanufacturing industries plan spending
in the fourth quarter at an annual
rate of $91.2 billion, 11.0 percent
above the prerecession peak of $82.2
billion in the third quarter of 1981.
The 1984 planned increases in capital spending are consistent with firstquarter increases in other indicators
of future investment activity, including capacity utilization, corporate
profits and cash flow, net new capital
appropriations, and new orders for
nondefense capital goods. An important factor in determining the extent
to which the spending plans will be
realized will be the future path of interest rates, which have increased
during recent months.
June 1984
Manufacturing Programs
Table 4.—Expenditures for New Plant and
Equipment by Business in Constant (1972)
Dollars: Percent Change From Preceding
Year
In manufacturing, current-dollar
spending increased 5.5 percent in the
first quarter of 1984, to an annual
rate of $122.8 billion, following a 4.7percent increase in the fourth quarter
of 1983. Durable goods industries increased 7.5 percent in the first quarter and nondurables, 3.8 percent.
Manufacturers plan a 2.6-percent increase in the second quarter of 1984, a
3.5-percent increase in the third, and
a 4.2-percent increase in the fourth.
For the year 1984, manufacturers
plan to spend $128.8 billion, 15.5 percent more than in 1983; in March, a
planned increase of 16.3 percent was
1982
19 34
1983 '
Actual Actual Planned 1
All industries 3 .
Manufacturing
Durable goods
Nondurable goods ....
3
Nonmanufacturing ...
Mining
Transportation
Public utilities
Commercial and
other
Planned 2
-6.4
-3.9
12.6
14.8
-9.1
-5.3
15.7
13.8
100
-8.1
—7 1
-3.3
199
11.3
15.5
12.1
-4.4
-3.0
10.4
15.4
166
-4.2
3.8
168
-6.4
.5
239
6.6
5.9
22.0
5.5
6.6
-59
-2.6
11.5
19.2
1. Calculated from constant-dollar estimates based on current-dollar spending plans reported in January and February
1984.
2. Calculated from constant-dollar estimates based on current-dollar spending plans reported in April and May 1984.
3. Surveyed quarterly.
Table 3.—Expenditures for New Plant and Equipment by Business in Constant Dollars
Billions of 1972 dollars; quarters seasonally adjusted at annual ratesl
1982
1983 r
I
All industries3
1984
1983
1984 2
II
III
IV r
II 2
I
III 2
IV 2
132.43
127.22
146.00
123.56
123.89
127.76
133.69
138.54
143.55
148.66
153.26
54.78
51.87
59.05
51.14
50.55
51.83
53.98
56.75
57.63
59.78
62.04
26.46
2.86
1.31
1.07
1.11
5.92
6.70
6.49
3.51
2.53
1.12
2.26
30.55
25.96
3.00
1.33
1.12
1.04
5.85
6.51
6.36
3.22
2.66
1.07
2.12
24.98
2.71
1.27
.96
1.11
5.57
6.41
5.79
2.97
2.37
1.11
2.26
27.09
2.92
1.41
1.09
1.13
6.09
6.70
6.68
3.60
2.69
1.17
2.40
27.81
2.80
1.22
1.11
1.14
6.17
7.17
7.12
4.27
2.41
1.14
2.27
29.53
3.01
1.30
1.19
1.13
6.68
6.93
8.05
4.92
2.63
1.19
2.54
29.05
31.51
32.11
Motor vehicles
Aircraft
Stone clay and5 glass
Other durables
28.49
3.35
1.55
1.19
1.28
5.77
6.87
7.44
3.83
3.03
1.19
2.60
Nondurable goods
Food including beverage
Textiles
Paper
Chemicals
Petroleum
Rubber
Other nondurables 6
26.29
3.71
.63
2.89
6.19
8.65
.84
3.37
25.41
3.14
.65
2.98
6.20
7.92
.93
3.58
28.50
25.18
3.18
.62
2.92
6.28
7.80
.83
3.55
25.57
3.10
.58
3.05
6.19
8.20
.96
3.50
24.74
3.08
.66
2.97
5.93
7.63
.91
3.55
26.17
3.22
.73
2.98
6.41
8.06
1.03
3.74
27.22
3.13
.77
3.27
6.91
8.10
1.08
3.95
28.58
28.27
29.93
Manufacturing..
Durable goods
Primary metals 4
Blast furnaces steel works
Nonferrous metals
Fabricated metals
Electrical machinery
Machinery except electrical
Nonmanufacturing 3
77.65
75.35
86.95
72.42
73.34
75.94
79.71
81.79
85.91
88.88
91.22
Mining
4.27
3.55
4.33
3.57
3.28
3.63
3.72
4.27
4.13
4.40
4.54
Transportation .
Railroad .
Air
Other
5.39
5.04
5.32
4.95
4.93
4.97
5.33
5.11
5.40
5.48
5.31
Public utilities
Electric
Gas and other
17.86
17.95
19.14
17.78
17.82
18.04
18.14
18.58
18.91
19.20
19.87
Commercial and other
Wholesale and retail trade
Finance and insurance
Personal and business services 7
Communication
50.13
11.30
11.99
10.73
16.12
48.81
13.08
11.98
9.45
14.29
58.16
46.11
11.79
11.48
9.02
13.82
47.30
12.99
11.58
9.43
13.31
49.29
13.58
12.37
9.76
13.58
52.52
13.97
12.49
9.60
16.46
53.83
14.65
14.60
10.90
13.67
57.47
59.81
61.51
150.29
54.78
95.51
77.65
17.86
144.65
51.87
92.78
75.35
17.43
59.05
51.14
50.55
51.83
53.98
56.75
57.63
59.78
62.04
86.95
72.42
73.34
75.94
79.71
81.79
85.91
88.88
91.22
Addenda: 8
Total nonfarm business 9 .
Manufacturing
Nonmanufacturing
Surveyed quarterly 10
Surveyed annually
•"Revised.
1. Procedures for preparing constant-dollar estimates are described in the September 1981
SURVEY.
2. To estimate real spending plans, BEA adjusts the survey results for assumed price changes.
3. Surveyed quarterly.
4. Includes industries not shown separately.
5. Consists of lumber, furniture, instruments, and miscellaneous.
6. Consists of apparel, tobacco, leather, and printing-publishing.
7. Includes construction.
8. Quarterly estimates for selected nonmanufacturing industries were discontinued effective
with the April-May 1984 survey. The latest estimates for these industries were included in the
estimates published in the March 1984 SURVEY. The constant-dollar plans for 1984 were $161.99
billion for total nonfarm business, $102.01 billion for total nonmanufacturing, and $19.23 billion
for nonmanufacturing surveyed annually.
9. "All industries" plus the part of nonmanufacturing that is surveyed annually.
10. Consists of forestry, fisheries, and agricultural services; medical services; professional services; social services and membership organizations; and real estate.
June 1984
CHART 2
Changes in Business Investment
Percent
-30 -20 -10
0
10
20
30 40
ALL INDUSTRIES
Gas and Other
Utilities
Other
Transportation
Railroad
Transportation
Durable Goods
Manufacturing
Mining
Commercial and
Other
Nondurable Goods
Manufacturing
Electric Utilities
Air Transportation
U.S. Department of Commerce, Bureau of Economic Analysis
SURVEY OF CURRENT BUSINESS
29
reported. Manufacturers' spending declined 6.8 percent in 1983 and 5.6 percent in 1982.
Durable goods industries plan an
18.6-percent increase in 1984. The
largest increases are planned in
motor vehicles, 38.9 percent, and in
electrical machinery, 23.5 percent.
The planned increase in motor vehicles reflects record 1983 profits and a
continuing modernization of production facilities. The planned increase
in electrical machinery reflects
strength in anticipated sales as well
as constraints on current capacity;
the Federal Reserve Board estimated
that the industry was operating at
91.2 percent of capacity in the first
quarter of 1984. Spending by both industries is characteristic of a factor
common to all manufacturing industries—the need to catch up on capital
spending deferred during the recession.
Nondurable goods industries plan a
12.7-percent increase in 1984. The in-
creases planned in textiles (24.4 percent), "other nondurables" (17.6 percent), rubber (17.5 percent), and paper
(16.0 percent) are large. The increase
in the total is moderated by smaller
increases in petroleum (10.4 percent),
which accounts for over one-third of
total spending by nondurable goods
industries, and food-beverage (7.5 percent). The recovery in capital spending by the petroleum industry has
lagged behind other manufacturing
industries as a result of rates of capacity utilization and profits that
have been low by that industry's
standards; food-beverage has also experienced lower than normal profits
and expects relatively modest increases in 1984 sales.
Real spending by manufacturers is
estimated to increase 13.8 percent in
1984—15.5 percent in durables and
12.1 percent in nondurables. Spending
increased 5.1 percent in the first
quarter of 1984, to an annual rate of
$56.8 billion—12.6 percent above the
recession trough of $50.4 billion in the
fourth quarter of 1982, but 7.3 percent
below the prerecession peak of $61.2
billion in the first quarter of 1981
(table 5). Manufacturers plan a 1.6percent increase in the second quarter of 1984, a 3.7-percent increase in
the third, and a 3.8-percent increase
in the fourth.
Durable goods industries increased
real spending by 6.2 percent in the
first quarter of 1984, to a level 18.2
percent above the recession trough,
but 8.0 percent below the prerecession
peak. Nondurable goods industries increased real spending 4.0 percent in
the first quarter, to a level 10.0 percent above the recession trough, but
6.8 percent below the prerecession
peak.
CHART 3
Real Plant and Equipment Expenditures, All Industries:
Cyclical Peaks and Troughs
Billion 1972 $
160
Nonmanufacturing Programs
1972
1973
1974
1975
1976
1977
1978
1979
1980
1981
1982
Seasonally Adjusted at Annual Rates
•Planned
NOTE.-Peaks (P) and troughs (T) are turning points in the plant and; equipment expenditures series for "all industries."
U.S. Department of Commerce, Bureau of Economic Analysis
1983
1984
In nonmanufacturing, currentdollar spending increased 1.7 percent
in the first quarter of 1984, to an
annual rate of $170.4 billion, following a 5.5-percent increase in the
fourth quarter of 1983. Declines in air
transportation, communications, and
railroads were more than offset by increases in other nonmanufacturing
industries. Nonmanufacturing industries plan a 4.4-percent increase in
the second quarter of 1984, a 3.6-per-
June 1984
SURVEY OF CURRENT BUSINESS
30
Table 5.—Real Plant and Equipment Expenditures: Comparison of Latest Estimates With Recent Peaks and Troughs
Percent change
Billions of 1972 dollars; quarters seasonally
adjusted at annual rates
Peak 1
1981-82
AH industries
Manufacturing
Durable goods
Primary metals
Blast furnaces, steel works
Nonferrous metals
Fabricated metals
Electrical machinery
Machinery, except electrical
Transportation equipment
Motor vehicles
Aircraft
Stone, clay, and glass
Other durables
Nondurable goods
Food including beverage
Textiles
Paper
Chemicals
Petroleum
Rubber
Other nondurables
Nonmanufacturing
Mining
Trough 2
1982-83
1984: I
1984: IV 3
Peak to
trough
-13.7
Trough to Trough to
1984: I
1984: IV
Peak to
1984: I
Peak to
1984: IV
7.0
143.23
123.56
138.54
153.26
12.1
24.0
3.3
61.21
50.41
56.75
62.04
17 7
12.6
23.1
73
32.09
24.98
29.53
32.11
-22.2
18.2
28.5
3.96
1.80
1.68
1.51
6.23
7.51
9.72
5.06
3.67
1.63
2.95
2.61
1.14
.96
1.04
5.34
6.25
5.79
2.97
2.37
1.07
2.12
3.01
1.30
1.19
1.13
6.68
6.93
8.05
4.92
2.63
1.19
2.54
-34.1
368
-42.9
-30.8
142
-16.7
-40.4
-41.3
-35.5
342
-28.3
15.4
14.4
24.1
8.6
24.9
10.8
39.0
65.6
11.1
11.2
19.8
29.22
24.74
27.22
153
10.0
4.23
.79
3.58
7.00
9.80
.90
3.63
3.08
.58
2.74
5.63
7.63
.79
3.24
3.13
.77
3.27
6.91
8.10
1.08
3.95
-27.1
-26.3
-23.3
-19.5
221
-12.1
-10.8
1.6
31.9
19.2
22.8
6.1
37.3
22.1
82.17
72.42
81.79
91.22
-11.9
12.9
26.0
.5
5.36
3.28
4.27
4.54
-38.8
30.0
38.2
-20.4
-15.4
-16.0
-12.9
-9.5
29.93
-8.0
1.4
0
-24.0
27.7
292
-24.9
7.2
77
-17.2
27
284
-26.9
141
21.0
-6.8
2.4
-25.9
-2.8
86
-1.2
-17.3
20.7
9.0
11.0
Transportation
5.87
4.93
5.11
5.31
3.6
7.7
Public utilities
18.24
17.37
18.58
19.87
48
7.0
14.4
1.9
8.9
Commercial and other
Wholesale and retail trade
Finance and insurance
Personal and business services
Communication
54.03
12.18
12.87
11.86
18.48
46.11
11.14
11.48
9.02
13.31
53.83
14.65
14.60
10.90
13.67
61.51
147
-8.5
-10.8
240
-28.0
16.7
31.5
27.2
20.9
2.7
33.4
-.4
20.3
13.4
-8.1
260
13.8
1. Peak in each industry's plant and equipment expenditures during the period 1981: 1-1982: IV.
2. Trough in each industry s plant and equipment expenditures during the period 1982: 1-1983: IV.
3. Planned expenditures from survey results adjusted for assumed price changes by BEA (available only for major industry groups).
cent increase in the third, and a 2.4percent increase in the fourth.
For the year 1984, nonmanufacturing industries plan to spend $180.2
billion, 14.3 percent more than in
1983; in March, a planned increase of
12.3 percent was reported. Nonmanufacturing industries' spending declined 3.3 percent in 1983 after a
slight increase of 0.3 percent in 1982.
In 1984, the largest increases are
planned in gas utilities, 34.2 percent;
'other transportation," 25.5 percent;
and railroads, 25.0 percent. Mining
and "commercial and other" plan increases of 18.1 percent and 17.9 percent, respectively. Air transportation
plans a decline of 29.2 percent. The
planned increases in several of these
industries—mining, gas utilities, and
railroads, in particular—should be
viewed against the recent declines in
their capital spending during the recession.
Real spending by nonmanufacturing industries is estimated to increase
15.4 percent in 1984. Spending increased 2.6 percent in the first quarter of 1984, to an annual rate of $81.8
billion—12.9 percent above the recession trough of $72.4 billion in the first
quarter of 1983, but slightly below the
prerecession peak of $82.2 billion in
the third quarter of 1981. Nonmanu-
facturing industries plan a 5.0-percent
increase in the second quarter of
1984, a 3.5-percent increase in the
third, and a 2.6-percent increase in
the fourth.
In nonmanufacturing, first-quarter
real spending by several industries—
mining, wholesale and retail trade,
and finance and insurance—was approximately 30 percent above their
respective recession troughs. However, in mining, spending was still 20
percent below its prerecession peak.
Spending by the transportation and
by the communication industries was
only slightly above their recession
troughs, and well below their prerecession peaks.
By WILLIAM J. RUSSO, JR. and GARY L. RUTLEDGE
Plant and Equipment Expenditures by Business for
Pollution Abatement, 1983 and Planned 1984
U.S. NONFARM business spent $7.2
billion in 1983 for new plant and
equipment to abate air and water pollution and to dispose of solid waste,
14.7 percent less than in 1982 (table
I).1 These estimates are based on a
survey conducted in November and
NOTE.—Tracy K. Leigh and Thomas J. Zoretich assisted in the preparation of the estimates for this article.
1. Pollution abatement (PA) is the reduction or
elimination of emissions of pollutants that is brought
about by human activity directed to that purpose. Disposal of solid waste refers to the collection and dispos-
For a description of survey methodology, see Technical
Note 1 in Gary L. Rutledge and Betsy D. O'Connor,
"Plant and Equipment Expenditures by Business for
Pollution Abatement, 1973-80, and Planned 1981,"
SURVEY 61 (June 1981): 19-25, 30, and 72. Briefly, BEA
plant and equipment survey quarterly data and additional data from an annual survey, which included
pollution abatement questions, were used. Annual estimates of plant and equipment spending are the sum
of quarterly estimates. Sample ratios of pollution
abatement to total plant and equipment spending
from the annual survey are multiplied by universe estimates of plant and equipment spending to obtain
universe estimates for pollution abatement.
Expenditures by business for emission abatement
devices on cars and trucks were $3.1 billion in 1983.
For earlier estimates of these expenditures, see Kit D.
Farber, Frederick J. Dreiling, and Gary L. Rutledge,
"Pollution Abatement and Control Expenditures,
1972-82," SURVEY 64 (February 1984): 22-30.
al of solid waste by means acceptable to Federal,
State, and local authorites. Part of expenditures for
disposal of solid waste is not for PA, but presenting
only the PA portion is not feasible at the level of
detail in this article. 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," Reviews 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 OF CURRENT BUSINESS 61
(March 1981): 19-27.
The survey results are universe estimates for U.S.
nonfarm business of PA plant and equipment expenditures, excluding expenditures for emission abatement
devices on cars and trucks. The estimates are based on
sample data from companies, each of which is assigned to a single industry corresponding to the industry classification of the company's principal product.
Table 1.—New Plant and Equipment Expenditures by U.S. Nonfarm Business: Total and for Pollution Abatement
[Billions of dollars]
Total1
Total
Total nonfarm business
Manufacturing
Durable goods
Air
Planned 1984
1983 '
1982
Pollution abatement
Pollution abatement
Pollution abatement
Water
Solid
waste
0.82
Total l
Total
Air
Water
Solid
waste
Total1
Total
Air
Water
Solid
waste
1.00
302.50
7.24
3.66
2.90
0.68
343.57
7.64
3.79
2.85
.51
111.53
4.01
1.72
1.94
.36
129.72
4.31
1.75
2.07
.69
.14
51.78
1.33
.65
.55
.13
62.78
1.62
.76
.68
.18
316.43
8.49
4.69
2.98
119.68
4.72
2.28
1.94
56.44
1.76
.92
.49
Primary metals 2
Blast furnaces, steel works
Nonferrous metals .
7.46
3.47
2.71
.76
.41
.30
.45
.21
.20
.27
.19
.08
.03
.01
.02
6.39
2.97
2.44
.36
.19
.13
.19
.08
.10
.15
.11
.02
.02
(*)
(*)
7.23
3.27
2.73
.50
.29
.17
.26
.12
.13
.20
.16
.03
.04
.01
.01
Fabricated metals
Electrical machinery
Machinery, except electrical
Transportation equipment 2 .
Motor vehicles
Aircraft
2.59
10.62
12.89
15.16
7.92
6.04
.04
.15
.18
.40
.32
.08
.02
.06
.08
.21
.18
.03
.02
.08
.08
.16
.12
.04
(*)
.02
.03
.03
.02
.01
2.22
10.90
12.35
13.02
7.17
4.93
.03
.14
.26
.30
.24
.05
.01
.04
.08
.17
.15
.02
.02
.08
.15
.10
.07
.02
.01
.01
.04
.03
.02
.01
2.57
13.48
14.73
16.65
9.61
5.93
.05
.15
.28
.33
.24
.08
.01
.04
.09
.17
.13
.03
.03
.10
.15
.13
.09
.04
(*)
.01
.04
.04
.02
.01
2.61
5.13
.08
.15
.05
.07
.01
.07
.02
.02
2.45
4.45
.07
.17
.04
.12
.02
.03
.01
.01
2.81
5.30
.12
.19
.09
.10
.02
.06
.02
.03
1.36
1.25
.36
59.75
2.68
.17
.01
.15
.32
.67
.02
.02
.16
.02
.09
.27
.67
.01
.01
.04
(*)
.06
.07
.16
.01
.01
6.60
1.39
6.18
13.28
23.48
1.91
6.91
.25
.03
.25
.57
1.55
.01
.04
3.23
Stone, clay, and3 glass
Other durables
Nondurable goods
1.06
63.23
2.96
7.74
1.33
5.97
13.27
26.69
1.71
6.52
.38
.03
.30
.67
1.50
.04
.04
Nonmanufacturing
196.75
3.77
.32
190.97
Mining
Transportation
Railroad
Air
Other
15.45
11.95
4.38
3.93
3.64
.52
.14
.08
.01
.05
.21
.08
.05
.01
.03
.20
.05
.03
.00
.02
.11
.01
(*)
(*)
.01
11.83
11.20
3.92
3.77
3.50
.26
.06
.03
(*)
.04
.08
.02
(')
(*)
.01
Public utilities
Electric
Gas and other. . . .
Trade and services
Communication and other ®
41.95
33.40
8.55
86.95
40.46
3.00
2.89
.11
.09
.02
2.07
2.01
06
.04
.01
.77
.73
.05
.02
.01
42.00
.15
.15 i 34.99
7.00
.01
.03
87.94
38.02
(*)
2.77
2.69
.07
.10
.03
1.78
1.74
.04
.05
.02
Food including beverage
Textiles
Paper
Chemicals
Petroleum
Rubber
Other nondurables4
i
2.41
p
Preliminary.
*Less than $5 million.
1. Consists of annual estimates from the plant and equipment expenditures survey, as reported
in "Plant and Equipment Expenditures, First and Second Quarters and Second Half of 1984,"
SURVEY OF CURRENT BUSINESS (March 1984). The estimates for 1983 and 1984 in table 1 above
differ slightly from estimates issued in the pollution abatement press release of May 16, 1984,
"Business Plans to Increase Capital Spending for Pollution Abatement in 1984." The largest dif-
1.04
.13
.01
.16
.24
.51
(*)
.02
1.94
.23
66.93
2.69
.98
1.39
.31
.10
.02
.07
.28
.91
(*)
.02
.02
(*)
.02
.05
.12
(*)
.01
6.76
1.78
7.13
14.34
26.51
2.21
8.20
.20
.03
.39
.55
1.50
.01
.02
.10
.01
.22
.18
.47
(*)
.01
.08
.01
.10
.32
.88
.01
(*)
.02
(*)
.07
.05
.15
(*)
.01
.96
.32
213.86
3.33
.78
.50
.14
.05
.02
.00
.03
.05
(*)
(*)
.00
0
14.34
12.00
4.73
2.78
4.49
.26
.08
.04
.01
.04
.08
.02
(*)
.01
.01
.12
.05
.03
.00
.02
.07
(*)
(*)
.00
(*)
.75
.72
.03
.02
.01
.24
.23
(*)
.03
(*)
44.79
35.54
9.24
100.25
42.47
2.85
2.64
.21
.12
.02
1.88
1.82
.06
.05
.01
.58
.46
.12
.03
.01
.39
.37
.02
.04
(*)
1.39
2.04
ference in 1983 is for trade and services, $0.16 billion; the difference for total nonfarm business is
$0.37 billion or 0.001 percent.
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 communication; construction; social services and membership organizations; and
forestry, fisheries, and agricultural services.
31
32
SURVEY OF CURRENT BUSINESS
June 1984
Table 2.—New Plant and Equipment Expenditures by U.S. Nonfarm Business for Air and Water Pollution Abatement by End-of-Line Methods 1
[Billions of dollars]
Air
Total
1
2 Manufacturing
3
3.13
... .
Durable goods
2.28
1.54
1.58
.56
.66
1.21
2
Water
3.58
5.86
Total nonfarm business
Planned 1984
1983 "
1982
Line
Total
5.16
2.85
.95
Water
Air
Total
Air
Water
2.98
2.19
5.20
3.04
2.16
1.39
1.47
2.86
1.32
1.54
.53
.41
1.12
.57
.55
.37
.20
.15
.22
.09
.13
.15
.11
.03
4
5
6
Primary metals
Blast furnaces, steel works
Nonferrous metals
.59
.35
.21
.35
.17
.15
.24
.19
.06
.26
.12
.12
.16
.06
.10
.10
.06
.02
7
8
9
10
11
12
Fabricated metals
Electrical machinery
Machinery, except electrical
Transportation equipment
Motor vehicles
Aircraft
.02
.11
.13
.23
.19
.03
.01
.04
.06
.12
.11
.01
.01
.06
.07
.11
.08
.02
.02
.09
.15
.22
.19
.02
.01
.03
.02
.15
.14
.01
.01
.06
.13
.07
.05
.01
.03
.10
.16
.21
.17
.04
.01
.03
.02
.11
.09
.02
.02
.08
.13
.10
.08
.02
13
14
Stone clay and glass
Other durables 3
.05
.09
.04
.04
.01
.05
.06
.15
.04
.12
.01
.03
.10
.15
.08
.09
.01
.06
1.91
.93
.99
1.91
.86
1.05
1.74
.75
.99
.15
.02
.16
.49
1.03
.03
.03
.08
.01
.10
.26
.45
.01
.01
.07
.02
.06
.23
.58
.01
.01
.16
.02
.19
.42
1.08
(*)
.03
.09
.01
.13
.19
.42
(*)
.02
.07
.01
.06
.23
.66
(*)
.02
.12
.02
.29
.36
.94
.01
.01
.06
.01
.20
.12
.34
(*)
.01
.05
.01
.09
.23
.60
.01
(*)
2.73
2.00
.74
2.31
1.59
.72
2.34
1.73
.61
.38
.11
.07
(*)
.03
.20
.07
.04
(*)
.02
.17
.04
.03
.00
.01
.15
.05
.02
C)
.03
.06
.01
(*)
(*)
.01
.09
.04
.02
.00
.02
.17
.07
.03
(*)
.03
.08
.02
(*)
0
.01
.10
.05
.03
.00
.02
2.20
2.15
.05
.04
.01
1.70
1.68
.02
.02
.01
.50
.47
.03
.02
(*)
2.03
1.99
.04
.06
.02
1.47
1.45
.02
.03
.01
.56
.54
.02
.02
(*)
2.03
1.90
.13
.06
.01
1.58
1.56
.03
.04
.01
.45
.34
.10
.02
(*)
15
.
.
Nondurable goods
16
17
18
19
20
21
22
Food including beverage
Textiles
Paper
Chemicals
Petroleum
Rubber
Other nondurables *
23 Nonmanufacturing
24
25
26
27
28
Mining
Transportation
Railroad....
Air
Other
29
30
31
32
33
Public utilities
Electric
Gas and other
Trade and services
Communication and other 5
...
. ..
p
Preliminary.
"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 a company'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.
3. Consists of lumber, furniture, instruments, and miscellaneous.
4. Consists of apparel, tobacco, leather, and printing-publishing.
5. Consists of communication; construction; social services and membership organizations; and
forestry, fisheries, and agricultural services.
Table 3.—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
1982
1983"
8.93
4.97
3.04
.92
8.49
4.69
2.98
.82
7.24
3.66
2.90
.68
4.08
2.25
1.42
.40
3.67
2.00
1.33
.34
3.06
1.54
1.25
.27
219.0
220.6
213.5
229.8
231.4
234.6
223.4
243.7
236.6
237.7
231.8
252.2
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
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
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
Billions of constant (1972) dollars
5.09
2.64
2.14
.32
4.83
2.46
2.05
.33
4.64
2.38
1.93
.33
4.69
2.50
1.81
.38
4.64
2.54
1.70
.41
Prices, as measured by the implicit
price deflator for PA plant and equipment, increased 2.2 percent in 1983,
compared with a revised increase of
5.7 percent in 1982 (table 3).2 The
1983 price increase was the smallest
since 1965.3 It appears, based on information available in May, that
prices are likely to increase between 2
and 5 percent in 1984.
Implicit price deflators, 1972 = 100
Total
Air.
Water
Solid waste
p
105.5
105.0
106.5
104.3
121.8
122.6
121.0
118.8
135.0
137.4
131.4
134.4
142.0
144.5
139.0
141.6
151.8
154.6
148.4
152.9
163.3
164.5
161.1
168.0
179.6
180.2
177.2
186.2
198.1
199.6
193.4
208.7
Preliminary.
December 1983 by BEA. Plans indicate that spending will increase 5.5
percent, to $7.6 billion, in 1984.
The share of total new plant and
equipment expenditures accounted for
by pollution abatement decreased
from 2.7 percent in 1982 to 2.4 percent in 1983. Business plans indicate
a decrease to 2.2 percent in 1984. The
trend in the share has been downward since 1975, when the share
reached 4.4 percent (chart 4).
2. Price indexes generally applicable to PA plant
and equipment are used to derive implicit price deflators. The implicit price deflator for 1983 is based on
preliminary estimates for these indexes. Year-to-year
changes in the PA implicit prices deflators reflect
changes in prices and in the composition of pollution
abatement capital. Past changes have primarily reflected price changes; shifts in composition have) had
little effect.
3. Estimates of price change before 1973, the first
year that PA plant and equipment spending was surveyed by BEA, are mainly based on research for the
article by Frederick G. Kappler and Gary L. Rutledge,
"Stock of Plant and Equipment for Air and Water Pollution Abatement in the United States, 1960-81"
SURVEY 62 (November 1982): 18-25.
33
SURVEY OF CURRENT BUSINESS
June 1984
The Pollution Abatement Share of New Plant and Equipment Expenditures
From a peak in 1975, the share of new plant and equipment:
spending that is for pollution abatement has declined significantly
each year except 1980. Changes in this share are often used as an
indicator of changes in the investment burden of pollution abatement. Thus, it is useful to evaluate the several possible explanations for the decline.
The changes in the pollution abatement share appear mainly to
be due to changes in what may be termed "environmental regulatory conditions." These conditions consist of environmental activity—as reflected by administrative actions, court cases, and debate
about proposed changes in legislation—as well as accomplishments
in the design and implementation of environmental programs.
In the early 1970's, environmental regulatory programs in the
United States were in a "build-up" phase. By the late 1970's, these
programs had become quite complicated. Further, difficulties of
achieving pollution abatement targets, whether set by law or administrative or court action, had emerged. After 1975, recognition
of the increasing complexity of all programs and gradual redirection of programs toward regulation of toxic substances led to the
stretching out of timetables for meeting some targets. The increase
in the pollution abatement share of plant and equipment spending
through 1975 and the decline through 1979 are consistent with
this general picture.
In the 1980's, the Federal administrative process was oriented
toward "regulatory reform"—a reduced, less directive Federal role.
When the results of regulatory reform—either action or inactionwere considered detrimental, concerned groups initiated court
cases. Further, reauthorization of environmental legislation stalled
in Congress. Some proposals before Congress would have relaxed
pollution abatement targets, others would have tightened them,
but the major proposals shared a recognition of the need to stretch
out further the timetables for meeting the targets. In the meantime, strict enforcement of pollution abatement deadlines was
often deferred. Thus, the further decline of the share of plant and
equipment spending through 1983 is not surprising.
Progress made in implementing pollution abatement programs
reduces the need for additional action. One indicator of progress is
the size of the pollution abatement capital stock. Reflecting the
rapid growth in this stock in the 1970's, its size was substantial by
1980. Growth slowed in 1981 and 1982.
General business conditions appear to affect the numerator and
denominator of the share of plant and equipment spending that is
for pollution abatement nearly proportionately. For example, increases in real sales and cash flow and declines in interest rates
affect the ability of an industry to invest in both pollution abatement and other facilities. Thus, the decline in the share does not
appear to be directly related to changes in general business conditions. Other possible explanations for the decline in the share can
probably be ruled out. For example, if industries with few pollution problems grow substantially relative to industries with significant problems, the share of plant and equipment spending for pollution abatement by all industries might decline. So far, however,
differences in growth across industries have had little effect on the
share. Also, if technology changes, the share might change. For example, if pollution abatement becomes more efficient (as might
occur with a large shift to changes-in-production-process methods),
the share might decline. Changes in technology large enough to
affect the share have not yet been observed.
CHART 4
Air, Water, and Solid Waste Pollution Abatement as a Percent
of Total New Plant and Equipment Expenditures
After adjustment for price change,
PA plant and equipment spending decreased 16.6 percent in 1983 to $3.1
billion. Decreases for air, water, and
solid waste were 23.0 percent, 6.0 percent, and 20.6 percent, respectively. If
plans are realized in 1984, real spending will range between $3.1 and $3.2
billion. This will result in the first increase in real spending since 1979.
Percent (Ratio scale)
5.0
4.0
3.0
2.0
1.0
.8
1960
1962
1964
1966
1968
1970
1972
1974
1976
1978
1980
1982
1984
• Planned
1. The first year covered by the survey was 1973. Prior to 1973, air and water expenditures are based on sources and methods described in
"Stock of Plant and Equipment for Air and Water Pollution Abatement in the United States, 1960-81," Survey of Current Business (November 1982).
U.S. Department of Commerce, Bureau of Economic Analysis.
84-6-4
445-525 0 - 8 4 - 5
Spending patterns
Spending for air and water PA
plant and equipment has accounted
for approximately 90 percent of total
PA plant and equipment spending
since 1973, the first year covered by
the survey. Such spending is for one
of two general methods. End-of-line
methods involve the separation, treatment, or reuse of pollutants after
they are generated but before they
are emitted. Spending for end-of-line
methods has accounted for a fairly
constant share—about 80 percent—of
air and water spending. Companies
reported spending $5.2 billion in 1983
for end-of-line methods and plan to
spend the same amount in 1984 (table
2).
Changes-in-production-process
34
Table 4.—New Plant and Equipment Expenditures for Pollution Abatement:
Change From Preceding Year
1982
Total nonfarm business
Manufacturing
Durable goods
Nondurable goods
Nonmanufacturing
Electric utilities
Other nonmanufacturing.
p
Percent
1983 " Planned
1984
49
129
107
-145
147
150
244
95
55
75
218
4
74
66
100
143
69
398
31
19
302
Preliminary.
methods are preventive in that they
reduce the generation of pollutants
during the production activity. Such
methods generally have production
and PA features, but survey respondents are asked to report only the part
of spending that is for pollution
abatement. Technologies for both
methods change over time depending
upon resources devoted
to research
and development.4
In 1983, business spending decreased 22.0 percent (to $3.7 billion),
2.7 percent (to $2.9 billion), and 17.1
percent (to $0.7 billion) for air, water,
and solid waste, respectively. Plans
indicate business spending in 1984 for
air and solid waste will increase 3.6
percent (to $3.8 billion) and 47.1 percent (to $1.0 billion), respectively,
while spending for water will remain
about the same.
Industry detail—The 1983 decrease
in PA plant and equipment spending
was widespread, affecting all major
industry categories (table 4). The decrease was 15.0 percent in manufacturing and 14.3 percent in nonmanufacturing. The 1983 decrease was
mainly due to environmental regulatory conditions facing business. These
conditions are highlighted in the accompanying box, which discusses the
decline in the share of new plant and
equipment that is for pollution abatement.
4. See the February 1984 SURVEY article referred to
in footnote 1 for information on research and development expenditures.
SURVEY OF CURRENT BUSINESS
June 1984
The 1984 planned increase in PA
plant and equipment spending is also
widespread, except for a planned decrease by electric utilities. The
planned increase is 7.5 percent in
manufacturing and 3.1 percent in
nonmanufacturing.
Environmental
regulatory conditions in 1984 show
little change from 1983 and thus can
not contribute significantly to the
planned increase. The 1984 planned
increase appears to be mainly due to
improvement in general business conditions affecting investment (see the
article reporting the results of BEA's
plant and equipment expenditures
survey elsewhere in this SURVEY).
This improvement increases firms'
ability to finance facility purchases,
including those for pollution abatement, and if production capacity is expanded, pollution abatement capacity
often must also be expanded.
In 1983, the largest absolute decreases in spending for PA plant and
equipment were by blast furnaces and
steel works ($0.22 billion), electric
utilities ($0.20 billion), and nonferrous
metals ($0.17 billion). In percentage
terms, the decreases in blast furnaces
and nonferrous metals were each over
50 percent; the decrease in electric
utilities was 7 percent.
The largest absolute increases in
spending for PA plant and equipment
planned for 1984 are by paper ($0.14
billion), "gas and other" public utilities ($0.14 billion), and blast furnaces
and steel works ($0.10 billion). In percentage terms, each of these planned
increases is large.
Six industries have, over the years,
accounted for most—70 percent or
more—of PA plant and equipment
spending: electric utilities, petroleum,
chemicals, blast furnaces, paper, and
nonferrous metals (chart 5). Through
1983, the share of spending by electric
utilites tended to rise. Trends for
other industries shares are less clear;
the shares of others, except for petroleum, tended to decrease slightly
through 1983.
CHART 5
Shares of New Plant and Equipment
Expenditures for Pollution Abatement
by Selected Industries
1973-79
1980
1981
1982
1983 1984*
• Planned
U.S. Department of Commerce, Bureau of Economic Analysis.
84-6-5
By RUSSELL C. KRUEGER
U.S. International Transactions, First Quarter 1984
THE U.S.
current-account deficit increased to a record $19.4 billion in the
first quarter from $17.2 billion (revised) in the fourth, as an increase in
the merchandise trade deficit was
partly offset by increased net service
receipts and lower net unilateral
transfers. The merchandise trade deficit increased $6.2 billion to $25.6 billion due to a large increase in nonpetroleum imports, reflecting the rapid
growth of the U.S. economy and
strength of the dollar. Exports increased moderately. Net service receipts increased $3.1 billion to $8.4
billion. Receipts of income on U.S.
direct investment abroad increased
$3.0 billion to $8.0 billion; receipts
were bolstered by a shift from capital
losses to capital gains and moderate
recovery in business activity abroad.
Payments of income on foreign direct
investment in the United States increased slightly to $2.2 billion. Net
unilateral transfers decreased $0.9 billion to $2.2 billion. (Revised estimates
for 1983 and earlier years are presented in this article and accompanying
tables. See Technical Notes.)
Among private capital transactions, percent on a trade-weighted, quarterU.S. claims on foreigners reported by ly average basis against the currenbanks increased $0.3 billion in the cies of 22 OECD countries and 1 perfirst quarter, compared with an $8.2 cent against the currencies of 10 inbillion increase in the fourth, reflect- dustrial countries. The dollar ended
ing strong domestic credit demands the quarter lower than it began for
relative to credit demands abroad and all major European currencies except
banks' caution about external expo- the British pound.
sure. U.S. liabilities to private foreigners and international financial inDuring the quarter, dollar fluctuastitutions reported by banks increased tions against European currencies re$11.3 billion, compared with $24.0 bil- flected the shifting influences of
lion. Borrowing from own foreign of- rising U.S. interest rates, expectations
fices abroad declined, reflecting ample about prospects for U.S. growth and
availability of domestic funds. Out- inflation, and political and military
flows for U.S. direct investment tensions. The dollar hit record levels
abroad were $3.2 billion, compared in mid-January against several Eurowith $1.6 billion. Foreign direct in- pean currencies—the German mark,
vestment in the United States slowed French franc, Italian lira, and British
to a $1.9 billion increase from a $2.3 pound. The preceding 3-month runup
billion increase. The statistical dis- was largely attributable to high U.S.
crepancy (errors and omissions in re- interest rates, to perceptions that U.S.
ported transactions) was an inflow of growth would continue to be stronger
$13.5 billion.
than growth abroad, and to military
conflict in the Middle East. Also, the
British pound was weakened by conU.S. dollar in exchange markets
cern about the British current acThe U.S. dollar appreciated moder- count stemming from rumors that the
ately during the first quarter, rising 3 new Nigerian Government might
Table A.—Summary of U.S. International Transactions
[Millions of dollars, seasonally adjusted]
T ino
1
2
3
Exports of goods and services (1)
Merchandise excluding military (2)
Other goods and services (3-13)
4 Imports of goods and services (15)
5
Merchandise excluding military (16)
6
Other goods and services (17-27)
7 U.S. Government grants (excluding military grants of goods
and services) (30).
8 Remittances, pensions, and other transfers (31, 32)
1982
1983
349 448
211 198
138 250
332 201
200 257
131 944
90082
55482
34600
350 590
365 113
261 312
247 667
-102,923 -103,801
I
84,910
51,829
33,081
90,620
54,164
36,456
5,710
2,335
3,375
89067
63 615
-25,452
94529
'67 938
-26,591
99037
71236
-27,801
107,876
79805
-28,071
-8,839
8569
-270
-974
-1,210
-1,478
-2,398
-1,429
969
-599
-638
-665
-688
-723
-35
-1,060
16
-1,251
-9,223
529
-1,204
-5,927
-657
-1,989
8,916
296
-560
81 111
49246
31,865
87812
62 546
-25^266
87545
60921
-26,624
90389
64442
-25,947
84 844
59758
-25,086
82481
58523
-23,958
-1,101
-1,088
-1,753
-624
9 U.S. assets abroad, net (increase/capital outflow (-)) (33)
-118,898
10
U.S. official reserve assets, net (34)
4,965
11
U.S. Government assets, other than official reserve
-6,143
assets, net (39).
12
U S private assets net (43)
107 790
-49,490
-1,196
-5,013
-31,960
- 1,089
-803
.
84,826
50437
34,389
80936
48519
32417
-1,481
.
81,355
48745
32,610
87,158
52079
35,079
-2,591
.
I"
91274
55118
36,156
-6,060
16 Allocations of special drawing rights (62)
17 Statistical discrepancy (63) .
IV
IV
2635
-701
-657
-41,409
-1,132
-1,700
-26,216
-794
-2,555
-653 >
Change:
1 Q8Q TV
III
I
III
-5,423
13 Foreign assets in the United States, net (increase/capital
inflow (+)) (48).
14
Foreign official assets net (49)
15
Other foreign assets, n e t (56) . . .
II
1984
1983
19 82
Lines in tables 1, 2, and 10 in which transactions are
included are indicated in ( )
-19,314
-1,950
-1,086
-24,364
-787
-1,130
II
-14,843
953
-1,429
19841
43281
30068
38577
22867
16279
22447
175
8548
12461
3281
9,180
95,181
81,722
28,344
33,772
18,384
14,680
15,888
12,452
19,578
33,804
11,803
-22,001
3318
91863
5339
76,383
3221
31,565
1,399
32,373
2,477
15,907
2664
12,017
252
16,139
1739
10,714
-2703
22,281
6,555
27,249
-2,859
14,662
-9,414
-12,587
32916
9,331
3,450
5,710
12,808
10947
11,420
-1,833
1,491
-1,748
13,532
15,280
" Preliminary.
35
June 1984
SURVEY OF CURRENT BUSINESS
36
withdraw from OPEC and lower petroleum prices.
Subsequently, the dollar, through
the end of February, depreciated
sharply against European currencies,
as recovery in a few major trading
partners strengthened moderately
and as concerns mounted over the
sizes of the U.S. Federal budget and
current-account deficits and a pickup
in U.S. inflation. In contrast to recent
quarters, the depreciation occurred
despite increases in U.S. interest
rates relative to stable or declining
foreign rates. This pattern suggests
that both the decline in the dollar
and the higher interest rates might
have reflected, at least temporarily,
renewed concern about inflation. In
March, the dollar recovered part of its
loss as U.S. short-term interest rates
rose 55-80 basis points.
The dollar depreciated 1 percent on
average against the Japanese yen in
the first quarter. In late February,
the yen appreciated upon introduc-
the larger deficit. Petroleum imports
decreased slightly. Both agricultural
and nonagricultural exports increased
moderately.
Imports continued their strong increase, up $8.6 billion, or 12 percent,
to $79.8 billion. Since the end of the
recession in the fourth quarter of
1982, the increase in imports has
acounted for nearly one-quarter of the
increase in total U.S. purchases of
goods (see accompanying tabulation).
tion of a series of bills in the Japanese parliament designed to increase
the international demand for the yen.
The rise in U.S. interest rates relative to higher Canadian rates and uncertainties over future Canadian elections led to a 1-percent appreciation
against the Canadian dollar. The U.S.
dollar appreciated 5 percent against
the Mexican peso. Beginning in the
fourth quarter, Mexican authorities
began daily controlled devaluations of
the peso in order to partly offset domestic inflation.
[Change from preceding quarter; billions of 1972 dollars]
Merchandise trade
The U.S. merchandise trade deficit
increased $6.2 billion to $25.6 billion
in the first quarter, the fourth consecutive quarterly record deficit. A
strong increase in nonpetroleum imports, due to the rapid expansion of
the domestic economy, together with
the strong U.S. dollar, accounted for
Gross
domestic
purchases
excluding
services
Imports
4.4
4.9
45
6.4
8.4
1983: I
II
Ill
IV
00 0
277
24.2
38.8
11.2
137.4
31.4
1984- I
Total
Table B.—Selected Transactions With Official Agencies
[Millions of dollars]
1984
19 83
19 32
Change:
1 Q8Q TV
T i-no
I
1
2
3
4
Changes in foreign official assets in the U.S., net (decrease
-) (line 49, table 1).
Industrial countries2 *
Members of OPEC
Other countries
5 Changes in U.S. official reserve assets (increase -) (line 34,
table 1).
II
III
I
IV
II
lp
IV
III
19841
3,318
5,339
-3,221
1,399
2,477
2,664
-252
1,739
-2,703
6,555
-2,859
-9,414
-6506
7291
2533
10,172
8639
3806
6868
5018
1371
2025
2470
954
1981
234
262
406
431
2689
139
1466
1075
3,550
3482
1671
461
2051
-1,113
6,022
1640
2,173
898
-2,525
564
-6,920
-885
1,609
-4,965
-1,196
-1,089
-1,132
-794
-1,950
16
529
-953
-657
296
2093
5489
-3396
-2,083
600
— 2,683
200
800
-600
632
2482
-1,850
1261
2 207
'946
-765
10
10
-10
-20
—10
-10
-787
Activity under U.S. official reciprocal currency
arrangements with foreign monetary authorities: 3
6
6a
6b
Foreign drawings, or repayments ( — ), net
Drawings
Repayments
-1168
590
1758
-160
-765
160
-10
" 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 oil-exporting countries.
3. Consists of transactions of the Federal Reserve System and the U.S. Treasury Department's Exchange Stabilization Fund.
Table C.—Indexes of Foreign Currency Price of the U.S. Dollar
[1977 = 100]
1984
19 33
Trade-weighted average against 22 OECD currencies l
2
Trade-weighted average against 10 currencies ..
Selected currencies: 3
Canada
United Kingdom
European Monetary System currencies:
Belgium
France
Germany
Italy..
Netherlands
Switzerland
Japan
1984
1983
I
II
III
IV
I
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
125.1
127.7
132.6
133.8
137.2
126.3
127.6
129.2
131.5
134.0
132.2
132.1
133.6
135.8
139.4
135.8
136.4
1154
119.0
1245
1258
1272
1179
1181
121 1
1225
1256
1255
123.2
125.9
1284
130.5
127.3
123.8
115.6
1137
116.0
1123
1161
1155
116.6
1187
118.2 1161
121 5 1135
115.8
1109
1161
1126
1161
1141
1162
1160
1161
1163
116.0
1164
116.5
1180
1174
1216
117.6
1238
117.5
1209
119.6
1197
1323
1401
1036
1582
1084
840
877
138.1
1517
106.9
1666
1137
86.4
884
1480
1617
1137
1777
1204
894
902
1518
1660
1152
1835
1223
89.9
872
1539
1686
1161
1876
1239
915
860
137.3
1508
1061
1657
1129
85.6
874
1419
1558
1097
1704
1162
879
893
1446
1584
1115
1731
1180
882
895
1495
1636
1150
1794
1218
901
910
1501
1640
1148
1808
121 5
900
901
1478
1618
112.0
1785
1189
87.9
868
1520
1660
115.5
1835
1224
90.3
876
1560
1704
1183
1884
1256
91.5
872
1598
1748
120.9
1929
128.7
93.2
870
154.1
1689
116.1
1881
124.0
91.8
870
148.1
1627
111.7
182.3
119.4
89.5
840
1353
1487
1049
1638
1119
857
884
1. Australia, Austria, Belgium-Luxembourg, Canada, Denmark, Finland, France, Germany, Greece, Iceland, Ireland, Japan, Netherlands, New Zealand, Norway, Portugal, Spain, Sweden,
Switzerland, Turkey, United Kingdom. Data: U.S. Department of the Treasury. End-of-month rates. Index rebased by BEA.
2. Belgium, Canada, France, Germany, Italy, Japan, Netherlands, Sweden, Switzerland, United Kingdom. Data: Federal Reserve Board. Monthly average rates. Index rebased by BEA.
3. Data: Federal Reserve Board. Monthly average rates. Indexes rebased by BEA.
June 1984
As shown in chart 7, the high marginal rate of importation has increased the average percentage of imported goods in total domestic goods
purchases to record levels during the
last two quarters.
Nonpetroleum imports increased
$9.0 billion, or 16 percent, to $66.0 billion; volume increased 17 percent.
Capital goods increased $2.9 billion,
and showed increases in all major categories, especially in business machines and computers, which increased $0.8 billion, or 32 percent, for
the quarter, and 87 percent over the
past year, and in electrical machinery, up $0.7 billion, or 19 percent, for
the quarter. Consumer goods increased $2.2 billion, about equally divided between durable and nondurable goods. There were strong increases in gem diamonds to rebuild
stocks after strong fourth-quarter
sales, and in apparel. Numismatic
coins decreased $0.4 billion, after a
bunching of deliveries from South
Africa in the fourth quarter. Industrial supplies and materials increased
$1.9 billion, led by a turn-around in
precious metals and by increases in
iron and steel. Brazil imposed a 27percent export tax on selected steel
products shipped to the United States
to preempt possible imposition of a
U.S. import tax. The action followed a
ruling in February by the U.S. Department of Commerce that subsidies
on Brazilian shipments were harmful
to the U.S. steel industry. Automotive
imports increased $1.1 billion, mostly
from Canada. Foods, feeds, and beverages increased $0.6 billion.
Petroleum imports decreased $0.4
billion or 3 percent, to $13.9 billion.
The average price per barrel decreased to $28.05, from $28.30, as
worldwide supplies remained plentiful. Volume decreased to 5.40 million
barrels per day, from 5,53 million,
due to a decrease in consumption; inventories rose slightly. Imports from
OPEC members decreased $1.0 billion
and those from Western Europe increased $0.6 billion.
Exports increased $2.3 billion, or 5
percent. Volume increased 4 percent.
At $54.2 billion, exports were 12 percent above the low in the fourth quarter of 1982 and have made up about
one-half the drop that occurred in
1981 and 1982. However, the pickup
has been selective; agricultural exports and automotive exports to
SURVEY OF CURRENT BUSINESS
37
CHART 6
Indexes of Foreign Currency Price of the U.S. Dollar (1977 = 100)
150
TRADED/SIGHTED AVERAGES
140
22 OECD currencies
130
120
110
100
90
80
1981
__
1982
1984
1983
1. Australia, Austria, Belgium-Luxembourg, Canada, Denmark, Finland, France, Germany, Greece, Iceland, Ireland, Italy, Japan, Netherlands, New
Zealand, Norway, Portugal, Spain, Sweden, Switzerland, Turkey, and United Kingdom.
Data: U.S. Department of the Treasury. End-of-month rates, index rebased by BEA.
2. Belgium, Canada, France, Germany, Italy, Japan, Netherlands, Sweden, Switzerland, and United Kingdom.
Data: Federal Reserve Board._Monthly average rates, index rebased by BEA.
U.S. Department of Commerce, Bureau of Economic Analysis.
Canada have accounted for more than
two-thirds of the increase. Export expansion has been slower than the
rapid growth in domestic output of
goods, substantially reducing the percentage of total goods output exported
(chart 7).
Agricultural exports increased $0.5
billion, or 5 percent, to $10.3 billion;
volume increased 4 percent. Prices of
cotton and corn increased 3 percent
and 1 percent, respectively; prices of
soybeans and wheat declined 4 percent and 2 percent. Oils and sunflower seeds increased to $0.7 billion from
$0.2 billion, due to large PL-480 shipments of sunflower seeds to Mexico as
a substitute for soybeans, which were
in short supply because of last year's
drought.
Nonagricultural exports increased
$1.9 billion, or 4 percent, to $43.9 billion. Volume increased 3 percent.
Automotive exports increased $0.6 billion, as strong sales of U.S. model
cars assembled in Canada led to a
$0.2 billion increase in exports of
parts and as exports of completed
cars, trucks, and buses continued to
increase strongly. Capital equipment
increased $0.6 billion, led by a $0.2
CHART 7
Merchandise Trade, Goods
Production, and Goods Purchases
Percent
15
14
-
v
B<portss as a Percentage
of Goods Production 0^
13
12
11
Imports as a Percentage of Gross
Domestic Purchases Less Services1
10
8
I I I I I I I I I I I I I I I
1980
1981
1982
1983 1984
1. Goods purchases are gross domestic purchases less domestic
purchases of services.
NOTE.—Estimates derived trom NIPA data in 1972 dollars.
U.S. Department of Commerce, Bureau of Economic Analysis.
38
SURVEY OF CURRENT BUSINESS
June 1984
Table D.—Selected Direct Investment Transactions With Netherlands Antilles Finance Affiliates
[Millions of dollars]
II
III
1 544
736
254
2533
Capital
Equity capital
Reinvested earnings
Intercompany debt
3080
(i)
(i)
(i)
9019
4052
'838
13908
3920
1227
1041
6188
1741
1217
140
3097
3316
1256
200
4772
Income
Of which interest
655
1208
1986
2991
2918
4246
295
463
475
688
1984
1983
1982
I
588
875
I
II
III
IV
IP
2418
844
244
3506
966
222
163
1351
1,453
225
265
1,943
625
209
-310
1,144
877
572
-302
1,751
n.a.
-260
n.a.
1,095
629
965
603
867
660
986
-731
1081
-924
1312
n.a.
- 1 131
IV
n.a.
Not avilable.
p
Preliminary.
1. Data reflecting the new treatment of unincorporated affiliates (see Technical Notes) are not available for 1981.
NOTE.—Table shows only transactions with affiliates established primarily to borrow funds abroad and relend them to their U.S. parents.
billion increase in computers and
parts and a $0.3 billion increase in
electrical equipment; completed aircraft decreased $0.3 billion. Exports of
industrial supplies and materials and
of consumer goods remained at the
low levels that have prevailed since
1982, reflecting limited growth in
demand abroad and the strength of
the dollar.
Service transactions
Net service receipts increased $3.1
billion to $8.4 billion. Receipts increased $3.4 billion to $36.5 billion,
largely due to higher direct investment income receipts. Payments increased $0.3 billion to $28.1 billion.
Receipts of income on U.S. direct
investment abroad increased $3.0 billion to $8.0 billion, following a low
fourth quarter. There was a $2.6 billion shift from large capital losses to
small capital gains, primarily from
exchange rate changes. Operating
earnings increased $0.2 billion as
higher manufacturing earnings reflected the moderate recovery in business activity abroad. Earnings were
lower in petroleum and other industries. Earnings increased in developing countries in Asia and Africa and
declined in Europe and Canada. Payments of income on foreign direct investment in the United States were
$2.2 billion, up $0.2 billion, as the
U.S. expansion continued. Income of
petroleum affiliates declined and that
of other industries increased.
Receipts of income on other private
investment increased $0.3 billion to
$13.7 billion, largely reflecting higher
interest rates. U.S. Government
income receipts decreased slightly to
$1.1 billion. Payments of income on
other private investment increased
$0.4 billion to $8.3 billion, mostly due
to the increase in U.S. bank liabilities
in recent quarters. U.S. Government
payments increased slightly to $4.6
billion.
Travel receipts increased $0.2 billion to $3.0 billion. Increased receipts
from overseas, especially the Far
East, were partly offset by a drop in
receipts from Canada and Mexico.
Payments decreased $0.2 billion to
$3.6 billion. Payments overseas and to
Mexico dropped; payments to Canada
increased. Passenger fare receipts increased $0.1 billion to $0.9 billion;
payments were unchanged at $1.4 billion.
Other transportation receipts were
unchanged at $3.3 billion; payments
increased slightly to $3.5 billion. Air
freight payments were up strongly.
Higher ocean freight payments for
tramp and liner charges were offset
by lower tanker charges.
Transfers under U.S. military sales
contracts decreased $0.2 billion to $2.6
billion, the lowest level in 3 years.
Many major weapons delivery programs have recently been completed
and deliveries under new programs,
although scheduled, have not yet
begun. Direct defense expenditures
abroad decreased $0.2 billion to $2.9
billion, primarily from declining petroleum expenditures and reduced
disbursements on an engineering contract in the Middle East.
Other private service receipts and
payments each rose $0.1 billion to
$1.7 billion and $1.0 billion, respectively.
Net unilatreal transfers decreased
$0.9 billion to $2.2 billion, due to
lower U.S. Government grants. Disbursement fell because Israel drew all
grant funds for the current fiscal year
during the fourth quarter.
U.S. assets abroad
U.S. official reserve assets increased
$0.7 billion in the first quarter. Foreign currency holdings increased $0.2
billion, due to limited intervention to
support the German mark in January
and interest earned on mark and yen
holdings. The U.S. reserve position
with the International Monetary
Fund (IMF) and holdings of special
drawing rights (SDR's) each increased
$0.2 billion.
U.S. claims on foreigners reported
by U.S. banks increased $0.3 billion,
compared with an $8.2 billion increase in the fourth quarter. The
slowdown reflected strong growth in
domestic bank lending (up 20 percent), continued sluggishness in international demand for U.S. bank credit,
and hesitancy by many banks to increase their foreign exposure in the
face of financial difficulties in a
number of developing countries. In
addition, some yearend transactions
were reversed in January, and there
was greater use of alternative sources
of financing, especially floating rate
notes and Eurobonds. Large credit
lines were established with U.S. bank
branches and foreign banks abroad
for possible use in corporate takeovers, but relatively small amounts
were actually drawn during the quarter.
Geographically,
reductions
in
claims were widespread. Most of the
interbank reductions were on Caribean banking centers and Japan,
while reductions in other claims were
mostly on countries in Asia and
Europe. Claims increased on Canada,
and on own foreign offices in the
United Kingdom. Claims on Brazil in-
June 1984
creased in March due to U.S. bank
participation in the first tranche of
an IMF-arranged $6.5 billion loan associated with rescheduling of Brazil's
foreign debts.
Net U.S. sales of foreign securities
were $0.2 billion, the first quarter of
net sales in almost a decade. New foreign bond issues in the United States,
at $0.7 billion, were low for the
second consecutive quarter and limited to a few Canadian issues. Concern
about volatility of the dollar and
rising U.S. interest rates led to a shift
from U.S. markets to other international bond markets, where borrowing
was at record levels in the first quarter. Holdings of outstanding bonds declined $0.6 billion, compared with no
net change, due to scheduled redemptions. Net sales of foreign stocks were
$0.4 billion, compared with net purchases of $0.1 billion, as rises in most
foreign stock markets moderated, especially in the last half of the quarter. Rising interest rates may also
have attracted funds away from
equity markets. Net U.S. sales of Canadian stocks increased as the Canadian market declined. Net sales of
Japanese stocks continued for a
second quarter, probably reflecting
some profit taking.
Outflows for U.S. direct investment
abroad were $3.2 billion, compared
with $1.6 billion. Equity capital outflows declined to $0.7 billion, from
$2.5 billion. Outflows to Europe and
Latin America slowed, and no transactions were comparable to the large
fourth-quarter conversion from debt
to equity by an African petroleum affiliate. Net intercompany debt inflows
slowed $0.6 billion to $2.3 billion.
(Fourth-quarter inflows had been increased by the conversion mentioned
above.) A shift to outflows to Canada
was partly offset by a shift to inflows
from Europe. Inflows from Netherlands Antilles finance affiliates
dropped $0.7 billion to a $1.1 billion
increase, the lowest level since the
second quarter of 1981. The decline
reflected increased repayments of previously borrowed funds and some
tendency for those affiliates to transfer funds to other foreign affiliates instead of remitting the proceeds of new
issues to the U.S. parent. Reinvested
earnings increased $2.9 billion to $4.8
billion, as large capital losses in the
fourth quarter shifted to small capital
gains in the first.
39
SURVEY OF CURRENT BUSINESS
Foreign assets in the United States
Foreign official assets in the United
States shifted to a decrease of $2.9 billion from an increase of $6.6 billion.
Assets of industrial countries decreased $0.9 billion, reflecting intervention by foreign authorities to support their currencies against the
dollar in exchange markets in January. Assets of OPEC members decreased $2.5 billion, reflecting continued weakness in petroleum revenues.
Asssets of other countries increased
$0.6 billion; decreases in assets of several Asian countries were more than
offset by increases of several Latin
American countries.
U.S. liabilities to private foreigners
and international financial institutions reported by banks (including
U.S. Treasury securities) increased
$11.3 billion, compared with $24.0 billion. The slowdown was concentrated
in drawings on foreign offices, which
increased $1.4 billion, compared with
$15.5 billion. The decline reflected the
reduced need to draw funds from
abroad and the reversal in January of
some large yearend inflows. Liabilities to unaffiliated banks and other
private foreigners increased $6.9 billion, compared with $8.0 billion. Inflows were at a record rate in March,
as U.S. interest rates rose sharply and
the dollar strengthened. In contrast to
the fourth quarter, when U.S.-owned
banks accounted for most of the increase, foreign-owned banks in the
United States accounted for twothirds of the increase in the first
quarter. Inflows were largely from
the United Kingdom, from Canada,
and from several Caribbean and Latin
American countries.
Net foreign purchases of U.S. securities other than U.S. Treasury securities increased $0.4 billion to $1.5 billion. Stock purchases increased $0.8
billion to $1.2 billion; European
buyers reversed their last quarter's
selloff, and Canadians more than doubled their purchases to a quarterly
record of $0.7 billion. Much of the increase occurred late in the quarter,
when the U.S. stock market and the
dollar were both rising. Net sales by
British residents continued. Net foreign purchases of bonds, which fell
$0.3 billion to $0.4 billion, were
mostly concentrated in the United
Kingdom and Japan.
Inflows for foreign direct investment in the United States slowed to a
$1.9 billion increase from a $2.3 billion increase. There were widespread
decreases in equity capital inflows,
which were down $0.7 billion to $0.6
billion, especially from the United
Kingdom and Canada. Reinvested
earnings continued to increase, up
$0.3 billion to $1.0 billion. Intercompany debt inflows were virtually unchanged at $0.3 billion; outflows for
manufacturing and petroleum affiliates were more than offset by inflows
for other affilates.
Technical Notes
As is customary each June, estimates of U.S. international transactions are revised to incorporate new
information. Revised annual estimates for 1960-83 and quarterly estimates for 1978-83 are presented in
tables 1 and 2. Revised annual estimates for 1973-83 and quarterly estimates for 1982 and 1983 are presented
in table 3. Revised annual estimates
for 1981-83 and quarterly estimates
for 1982 and 1983 are presented in
tables 4-10. Table lOa presents revised annual estimates for 1981-83.
Seasonal adjustment for selected
current-account items and for changes
in U.S. Government assets, other
than official reserve assets, were recalculated by extending through 1983
the period used to derive seasonal adjustment factors. The new factors
were applied to quarterly data for
1982 and 1983. (For seasonal adjustment and other changes involving
direct investment-related items, see
the section on direct investment estimates which follows.)
The geographic detail shown in section B of table 3 has been expanded
by the addition of 17 lines. Shown for
the first time are the individual European Communities (EC6) countries,
Brazil, Venezuela, members of OPEC
in Asia, China, Hong Kong, Korea,
Singapore, Taiwan, and members of
OPEC in Africa. Annual data for the
new lines are available since 1978;
quarterly data are available since
1982. The expansion of geographic
detail necessitated a change in the
seasonal adjustment procedure for
section B of the table. Under the new
40
procedure, unadjusted data for each
country or area are split into agricultural and nonagricultural exports and
petroleum and nonpetroleum imports.
Each cell is then seasonally adjusted
by the corresponding implicit global
factor derived from estimates in section D. The cells are summed to
derive country and area export and
import totals. Previously, each cell
was seasonally adjusted separately by
its own seasonal factor, and the data
derived were forced to a global control total.
Significant revisions were made in
the 1980-83 estimates for travel and
passenger fare receipts (lines 4 and
5)—mainly from overseas visitors.
Until mid-1979, the U.S. Immigration
and Naturalization Service (INS) tabulated the forms that each nonresident alien must file upon entry into
the United States. These tabulations
were the source of BEA's estimates of
foreign visitors. This year the INS resumed tabulating forms; a tabulation
was made for 1983 and partial tabulations were made for 1981-82. These
tabulations, along with BEA's estimates of foreign visitors in 1979 and
1980, are the basis for the revised
overseas travel and passenger fare receipts for 1980-83. Revisions were
made also in the 1982-83 estimates of
receipts from Mexican visitors to the
border area of the United States.
Prior to 1982, BEA used the Bank of
Mexico's data on sales and purchases
of U.S. dollars through Mexican
border area banks as a basis for estimates of these receipts. However,
during the period of peso depreciation
in 1982 and 1983, when the Mexican
Government set official exchange
rates offered by banks well below
market rates, much of the currency
exchange took place outside the banking system, rendering banking data
inadequate as a basis for estimates. In
response, the Bank of Mexico began
conducting personal expenditure
interviews with Mexicans in the
border area as they returned from the
United States. This expenditure
survey is the basis for the revisions to
1982-83 border area receipts.
U.S. transactions with the International Telecommunications Satellite
SURVEY OF CURRENT BUSINESS
Organization (Intelsat) are now recorded as transactions with a nonU.S. resident to reflect Intelsat's
status as an international organization. Previously, Intelsat—whose
headquarters are located in the
United States—was treated as a U.S.
resident, and its transactions with
other countries were recorded in the
U.S. international transactions accounts. Those transactions have been
removed from the accounts, and
transactions between U.S. residents
and Intelsat are now included. U.S.
transactions with Intelsat consist
mainly of sales of goods and services
(including satellites and launching
services) to Intelsat and returns on
U.S. capital contributions to Intelsat,
which are recorded as U.S. receipts;
charges to the United States for the
use of Intelsat's international communications satellite channels, which are
recorded as U.S. payments; and U.S.
capital contributions to Intelsat,
which are recorded as U.S. capital
outflows (an increase in U.S. assets).
Revisions to published estimates were
made for 1980-83.
Direct investment estimates
Change in treatment of unincorporated affiliates.—Beginning with the
years of the most recent benchmark
surveys (1982 for U.S. direct investment abroad and 1980 for foreign
direct investment in the United
States), the treatment of unincorporated affiliates has been changed to
parallel that of incorporated affiliates. Previously, less detail, by component, for direct investment income
and capital flows was obtained for unincorporated affiliates than for incorporated affiliates; now, similar detail
is obtained for both types of affiliates.
This change is possible because, over
time, the accounting procedures of
unincorporated
businesses
have
become more similar to those of incorporated businesses. Although the
change does not affect the totals for
direct investment income and capital
flows shown in table 1, it does affect
the individual components of these
June 1984
items, as shown in table 5. For years
prior to 1982 for U.S. direct investment abroad and to 1980 for foreign
direct investment in the United
States, estimates on the new basis
cannot be computed, because the necessary detail is not available.
Previously, reinvested and remitted
earnings of unincorporated affiliates
were not reported separately. Instead,
(1) in the income account, total earnings of these affiliates were treated as
if they were remitted and (2), in the
capital account, earnings actually reinvested rather than remitted were
treated as transfers of cash or other
assets from parents to affiliates and
were included, along with other capital flows, in a single summary account in the ' 'equity and intercompany accounts" component of direct
investment capital flows. The term
"reinvested earnings" referred only to
incorporated affiliates. Now, reinvested and remitted earnings of unincorporated affiliates are reported separately. The remitted portion is included, together with dividends of incorporated affiliates, in distributed earnings of all affiliates (line 5 or 41 of
table 5), and, in both the income and
capital accounts; the reinvested portion is included, together with reinvested earnings of incorporated affiliates, in reinvested earnings of all affiliates (lines 6 and 12 or 42 and 50).
In addition, capital flows to unincorporated affiliates, which—as noted
earlier—were previously shown together as a single summary account
in equity and intercompany account
flows, have now been split into the
equity, intercompany debt, and reinvested earnings portions. The equity
portion is now included, together with
equity flows to incorporated affiliates,
in equity capital flows to all affiliates
(line 9 or 47 of table 5); the intercompany debt portion is included, together with intercompany debt flows to incorporated affiliates, in intercompany
debt flows to all affiliates (line 13 or
51); and, as noted, the reinvested
earnings portion is included, together
with reinvested earnings of incorporated affiliates, in reinvested earnings
of all affiliates (line 12 or 50). For unincorporated affiliates that were
June 1984
unable to separate equity capital from
intercompany debt, the entire amount
was considered equity capital.
Revision of seasonal adjustment
procedures.—-Primarily because of the
change in treatment of unincorporated affiliates and resulting changes in
data presentation, the procedures for
seasonally adjusting income on U.S.
direct investment abroad have been
revised. All items, including income,
for foreign direct investment in the
United States continue not to be seasonally adjusted.
Previously, for U.S. direct investment abroad, total income and "interest dividends, and earnings of unincorporated affiliates'' were each seasonally adjusted, and seasonally adjusted "reinvested earnings of incorporated affiliates" were derived as a
residual. The seasonal factors were
calculated and the adjusted estimates
were obtained for petroleum and nonpetroleum affiliates separately.
With the change in treatment of
unincorporated affiliates, the components of direct investment income
have been regrouped. In the past, the
major components were "interest,
dividends, and earnings of unincorporated affiliates" and "reinvested earnings of incorporated affiliates"; now,
they are "interest" and "earnings" (of
both incorporated and unincorporated
affiliates). Earnings has, in turn, been
disaggregated into "distributed earnings" and "reinvested earnings" (of
both incorporated and unincorporated
affiliates).
Under the revised procedure, seasonal factors are directly applied to
the various components of income,
rather than to the total, and the various components are then summed. Interest, by itself, has been determined
to have no seasonal pattern and,
therefore, no adjustment is required.
Earnings, calculated before capital
gains (losses), do have a seasonal pattern and are seasonally adjusted; capital gains (losses) are excluded from
earnings in calculating the seasonal
factor because of their sporadic
nature and the current absence of
any discernible seasonal pattern. Although distributed earnings display a
SURVEY OF CURRENT BUSINESS
seasonal pattern, data on distributed
earnings of unincorporated affiliates
are available only for 2 full years
(1982 and 1983)—not a long enough
period to allow the calculation of seasonal factors using the Census Bureau's X-ll seasonal adjustment program. Thus, only distributed earnings
of incorporated affiliates (dividends)
can be seasonally adjusted using the
X-ll programs; distributed earnings
of unincorporated affiliates are adjusted informally, based on the distribution of data among the quarters of
the 2 years for which complete data
are available. The sum of seasonally
adjusted distributed earnings for both
types of affiliates is then subtracted
from seasonally adjusted total earnings, after unadjusted capital gains
(losses) have been added back in, to
derive seasonally adjusted reinvested
earnings. When data become available for distributed earnings of unincorporated affiliates over a sufficient
time period, total distributed earnings
will be seasonally adjusted using the
X-ll program. As before, the seasonal
factors are calculated and applied separately to the estimates for petroleum
and nonpetroleum affiliates.
Because reinvested earnings are a
component of direct investment capital outflows as well as income, the
revised procedure for deriving seasonally adjusted reinvested earnings also
affects total capital outflows. The
major change is that seasonally adjusted reinvested earnings now include an adjusted estimate for unincorporated as well as for incorporated
affiliates, whereas, in the past, they
consisted only of an adjusted estimate
for the latter. The other two major
components of direct investment capital outlflows—equity capital and intercompany debt—continue to show
no seasonal pattern and require no
adjustment.
Gross recording of interest and of
fees and royalties.—For foreign direct
investment in the United States, separate quarterly estimates of payments
and receipts of interest on intercompany debt and of fees and royalties
(lines 44-45 and 55-56, respectively, of
table 5) are available for 1980 forward. For prior years, only estimates
41
of the net amount of such payments
(receipts) are available because, although payments and receipts were
reported separately, universe estimates were prepared only for the net
amount.
For U.S. direct investment abroad,
separate quarterly estimates of receipts and payments of interest and of
fees and royalties are not yet available for any year. They will be available, starting with the year 1982,
when these series have been revised
to incorporate the results of the 1982
benchmark survey of U.S. direct investment abroad (this revision is
scheduled for 1986); for years prior to
1982, estimates will continue to be
available only on the net basis.
Benchmark revisions of the series on
foreign direct investment in the
United States.—The series on foreign
direct investment in the United
States for 1980 forward have been revised to incorporate the results of
BEA's 1980 benchmark survey. Previous estimates for these years were
based on the results of the 1974
benchmark survey. The revised estimates are preliminary. Final estimates for 1980-82 and revised, but
still preliminary, estimates for 1983
will be published, together with an
explanation of the benchmarking procedure, in the annual article on foreign direct investment in the United
States, which will appear later this
year in the SURVEY OF CURRENT BUSINESS.
Inclusion of data on capital inflows
to establish or acquire new U.S. affiliates.—Data on capital inflows to establish or acquire new U.S. affiliates
are not reported in BEA's quarterly
sample survey if the newly established or acquired U.S. affiliates are
below that survey's exemption level.
Also, because equity capital inflows
are not expanded to universe levels,
no estimate of such unreported inflows would normally be made. Avail-
(Text continues on p. 73.)
42
June 1984
SURVEY OF CURRENT BUSINESS
Table 1.—U.S. International
[Millions
Line
(Credits + ; debits -)
Ref.
lines
table 1,
March
1984
Survey)
1
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1 Exports of goods and services 2
1
28,861
29,937
31,803
34,214
38,826
41,087
44,562
47,314
52,363
57,522
2
3
Merchandise adjusted excluding military •*
Transfers under U.S military agency sales contracts
2
3
19,650
335
20,108
402
20,781
656
22,272
657
25,501
747
26,461
830
29,310
829
30,666
1,152
33,626
1,392
36,414
1,528
4
5
6
Travel
Passenger fares
Other transportation
4
5
6
919
175
1,607
947
183
1,620
957
191
1,764
1,015
205
1,898
1,207
1,380
1,590
1,646
371
2,426
1,775
411
2,548
2,043
450
2,652
7
8
9
10
590
247
570
153
662
244
607
164
800
256
585
195
11
14
15
3,621
646
349
3,823
793
383
14 Transfers of goods and services under U.S. military grant programs, net
16
1,695
1,465
15 Imports of goods and services
17 -23,729 — 23,591 -25,778 -27,047 -29,222
..
7
8
9
10
Fees and royalties from affiliated foreigners
Fees and royalties from unaffiliated foreigners
Other private services
U S Government miscellaneous services
11
12
13
Receipts of income on U.S. assets abroad:
Direct investment
Other private receipts
U.S. Government receipts
.
.
,
241
2,076
2,175
317
2,333
890
273
613
236
1,013
1,199
1,162
1,354
335
714
285
353
814
326
393
951
336
1,430
437
1,024
353
1,533
486
1,160
343
4,241
904
473
4,636
1,022
499
5,106
1,256
5,506
1,421
510
5,260
1,669
599
5,603
1,781
636
6,591
2,021
756
7,649
2,338
925
1,537
1,562
1,340
1,636
1,892
2,039
2,547
2,610
301
651
265
462
271
32,801 -38,599 -41,606 -48,800 -54,129
16
17
Merchandise adjusted excluding military 3
Direct defense expenditures.
18 -14758 -14,537 -16,260 -17,048 -18,700 -21,510
-2,961
2,880 -2,952
3,105
19 -3,087 -2,998
18
19
20
Travel
Passenger fares
Other transportation
20
21
22
-1750
-513
— 1,402
-1,785
-506
— 1,437
-1,939
-567
— 1,558
-2,114
612
— 1,701
-2,211
-642
—1,817
2,438
-717
— 1,951
21
22
23
24
Fees and royalties to affiliated foreigners
Fees and royalties to unaffiliated foreigners
Private payments for other services
U.S. Government payments for miscellaneous services
23
24
25
26
35
—40
-593
-313
43
46
-588
-406
57
-44
-528
398
61
-51
-493
-447
-67
-68
25
26
27
Payments of income on foreign assets in the United States:
Direct investment. ..
Other private payments
U S Government payments
27
30
31
-394
-511
-332
-432
-535
-278
-399
-586
-339
459
-701
-401
28 U S military grants of goods and services net
32
1695
1465
1,537
29 Unilateral transfers (excluding military grants of goods and services) net
33
2 308
2 524
30
31
32
34
35
36
-1,672
-214
423
37
38
39
40
41
,
,
U.S. Government grants (excluding military grants of goods and services)
U.S. Government pensions and other transfers
Private remittances and other transfers
33 U.S. assets abroad, net (increase/capital outflow ( — )) .
34
35
36
37
38
U.S. official reserve assets net 4
Gold
39
40
41
42
U S Government assets other than official reserve assets net
U S loans and other long-term
assets
Repayments on U.S loans 5
U.S. foreign currency holdings and U.S. short-term assets, net
43
44
45
46
47
U S private assets net
Direct investment
Foreign securities
U.S. claims on unaffiliated foreigners reported by U.S. nonbanking concerns ..
U S claims reported by U S banks not included elsewhere
. . . .
Reserve position in the International Monetary Fund
49
-60
527
-67
461
25,493 -26,866 -32,991
4,535
-3,764 -4,378
35..807
-4,,856
-2,657
-753
—2,161
-3,207
829
—2,157
-3,030
885
-3.,373
-1,080
64
62
-104
-565
-691
-80
-106
668
-760
-101
120
-751
-717
-76
-550
-506
-644
-802
-657
-942
-489
-711
1,221
-549
-821
-1,328
-598
-876
-1,800
-702
-848
-3,244
-111
— 1,562
— 1,340
-1,636
1,892
-2,039
-2,547
-2,610
2638
2,754
—2,781
—2,854
-2.932
-3,125
-2,952
-2,994
-1,855
-235
434
-1,916
-245
477
-1,917
262
-575
-1,888
-279
-614
-1,808
-369
-677
-1,910
-367
-655
-1,805
-441
-879
-1,709
-407
-836
-1,649
-406
-939
—4,099
—5,538
-4,174
-7,270
9,560
-5,716
-7,321
2145
1,703
607
857
1,535
890
378
461
171
125
1,225
1,665
570
571
1,170
870
1,173
-1,179
-967
442
-135
I -I K
626
1Q
29
112
266
220
-94
346
537
538
-94
1 023
-870
1 173
1,034
822
-535
529
453
9,757 -10,977 -11,585
53
43
44
45
46
1 100
1214
'642
-528
910
1928
1279
-261
1085
2128
1,288
-245
1662
2204
988
-447
— 1680
-2,382
720
-19
1605
-2,463
874
-16
-1,543
2,513
1,235
265
-2,423
-3,638
1,005
209
-2,274
-3,722
1,386
62
-2,200
3,489
1,200
89
47
48
51
52+53
54+55
5144
-2,940
— 663
-394
1 148
5235
-2,653
—762
-558
1261
4,623
2,851
—969
-354
450
—5,986
3,483
— 1,105
157
1,556
-8,050
-3,760
-5,336
-5,011
-6,347
5,418
-7,386
-4,805
-7,833
-5,295
-8,206
5,960
-1,108
-2,505
341
93
-442
233
48 Foreign assets in the United States, net (increase/capital inflow ( + ))
56
2,294
2,705
1,911
3,217
3,643
742
3,661
7,379
9,928
12,702
49
50
51
52
53
54
55
Foreign official assets in the United States, net
U.S. Government securities6
U.S. Treasury securities
Other7
Other U S Government liabilities 8
U.S. liabilities reported by U.S.
banks, not included elsewhere
Other foreign official assets 9
57
58
59
60
61
62
63
1,473
655
655
765
233
233
1,986
1,660
134
-672
3,451
774
-1,301
-134
215
603
25
508
1,270
1,409
1,410
—1
152
-291
-1,548
21
113
742
2222
39
83
1,106
-798
29
-15
10
-2,269
-74
251
792
56
57
58
59
60
Other foreign assets in the United States net
Direct investment
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.
U S liabilities reported by U S banks not included elsewhere
64
65
68
69
70+71
821
315
-364
282
-90
1,939
311
151
324
226
641
346
-'66
134
-110
1,231
1,983
322
607
415
-149
-146
-131
-37
75
178
4,333
425
356
906
476
3,928
698
135
1,016
584
10,703
807
136
4,414
1,475
14,002
1,263
-68
3,130
792
72+73
678
928
336
898
1,818
503
2,882
1,765
3,871
8,886
-989
-1,124
-360
-907
-458
629
-205
438
-1,516
6,801
9,604
8711
6,823
4,951
8,285
7239
5,432
3,817
5,963
4,941
3,031
3,800
5,708
4,388
2,583
635
3,563
2,320
611
607
3,893
2,048
3:99
570
53
3,368
-870
-759
1,179
-1,552
61
01 c
816
803
12
429
742
231
287
62 Allocations of special drawing rights
74
63 Statistical discrepancy (sum of above items with sign reversed)
75
-1,019
Memoranda:
Balance on merchandise trade (lines 2 and 16) 10
Balance on goods and services (lines 1 and 15)
Balance on goods services and remittances (lines
65 31 and 32)
Balance on current account (lines 65 and 29) 10
76
77
78
79
4892
5,132
4496
2,824
5571
6,346
5677
3,822
4521
6,025
5303
3,387
5224
7,167
6331
4,414
80
81
2,145
1,258
607
741
1,535
1,118
1,558
64
65
66
67
...
Transactions in U.S. official reserve assets and in foreign official assets in the
United States:
68
Increase (— ) in U.S. official reserve assets net (line 34)
69
Increase (+) in foreign official assets in the United States (line 49 less line 53)
See footnotes on page 63.
378
434
2
298
930
85
171
1,362
—7
65
210
358
1,225
69
-785
1 EJfiQ
-779
-495
9 9fi1
-1,203
233
7RQ
1 'vd.Q
-126
-570
9 '-IAH
SURVEY OF CURRENT BUSINESS
June 1984
43
Transactions
of dollars]
1970
1971
1972
1973
1974
1975
1977
1976
1978
Line
1983
1982
1981
1980
1979
65,674
68,838
77,495
110,241
146,666
155,729
171,630
184,276
219,994
286,796
342,485
375,721
349,448
332,201
1
42,469
1,501
43,319
1,926
49,381
1,364
71,410
2,559
98,306
3,379
107,088
4,049
114,745
5,454
120,816
7,351
142,054
7,973
184,473
6,516
224,269
8,274
237,085
10,003
211,198
12,509
200,257
12,737
2
3
2,331
544
3,125
2,534
615
3,299
2,817
699
3,579
3,412
975
4,465
4,032
1,104
5,697
4,697
1,039
5,840
5,742
1,229
6,747
6,150
1,366
7,090
7,183
1,603
8,136
8,441
2,156
9,971
10,588
2,591
11,618
12,913
3,111
12,560
12,393
3,174
12,313
11,408
3,037
12,802
4
5
6
1,758
573
1,294
332
1,927
618
1,546
347
2,115
655
1,764
357
2,513
712
1,985
401
3,070
751
2,321
419
3,543
757
2,920
446
3,531
822
3,584
489
3,883
1,037
3,848
557
4,705
1,180
4,296
620
4,980
1,204
4,403
520
5,780
1,305
5,158
398
5,794
1,490
5,856
499
5,561
1,572
6,635
533
6,275
1,579
6,474
630
7
8
9
10
8,169
2,671
907
9,160
2,641
906
10,949
2,949
866
16,542
4,330
936
19,157
7,356
1,074
16,595
7,644
1,112
18,999
8,955
1,332
19,673
10,881
1,625
25,458
14,944
1,843
38,183
23,654
2,295
37,146
32,798
2,562
32,549
50,182
3,680
22,269
57,474
4,119
20,757
51,414
4,832
11
12
13
2,713
3,546
4,492
2,810
1,818
2,207
373
203
236
465
756
675
594
205
14
-60,050
-66,569
-79,435
-99,219
-162,425
-194,170
-230,335
-333,510
-362,593
-350,590
-365,113
IE
-39,866
-4,855
-45,579
-4,819
-55,797
11
-4,784
-247,667
-12,014
-261,312
-12,222
16
17
-3,980
-1,215
-2,843
-4,373
-1,290
-3,130
-111
-114
-827
-725
-137,519
-133,000
-282,110
-70,499
-4,629
-103,811
-5,032
-98,185
-4,795
-124,228
-4,895
-151,907
-5,823
-176,020
-7,352
-212,028
-8,294
-249,781
-10,511
-265,086
-11,118
-5,042
-1,596
-3,520
-5,526
-1,790
-4,694
-5,980
-2,095
-5,942
-6,417
-2,263
-5,708
-6,856
-2,568
-6,852
-7,451
-2,748
-7,972
-8,475
-2,896
-9,124
-9,413
-3,184
-10,906
-10,397
-3,607
-11,790
-11,479
-4,487
-12,474
-12,394
-4,772
-11,722
-13,977
-5,532
-12,322
18
19
20
-118
-123
-956
-746
-155
-139
-1,043
-788
-209
-176
-1,180
-862
-160
-186
-1,262
-967
-287
-186
-1,551
-1,044
-293
-189
-2,006
-1,227
-243
-262
-2,190
-1,358
-393
-277
-2,573
-1,545
-523
-309
-2,822
-1,718
-428
-297
-2,909
-1,730
-435
-289
-3,002
-1,865
72
-267
-3,529
-2,238
-170
-282
-3,609
-2,193
21
22
23
24
-875
-3,617
-1,024
-1,164
-2,428
-1,844
-1,284
-2,604
-2,684
-1,610
-4,209
-3,836
-1,331
-6,491
-4,262
-2,234
-5,788
-4,542
-3,110
-5,681
-4,520
-2,834
-5,841
-5,542
-4,211
-8,795
-8,674
-6,357
-15,481
-11,076
-8,658
-20,893
-12,512
-7,053
-28,553
-16,753
-4,129
-33,833
-18,097
-6,734
-29,104
-17,657
25
26
27
-2,713
-3,546
-4,492
-2,810
-1,818
-2,207
-373
-203
-236
-465
-756
-675
-594
-205
28
-3,294
-3,701
-3,854
-3,881
12
-7,186
-4,613
-4,998
-4,617
-5,106
-5,649
-7,077
-6,833
-8,058
-8,651
29
-1,736
-462
-1,096
-2,043
-542
-1,117
-2,173
-572
-1,109
-1,938
-693
-1,250
12
-5,475
-694
-1,017
-2,894
-813
-906
-3,146
-934
-917
-2,787
-971
-859
-3,176
-1,086
-844
-3,550
-1,180
-920
-4,731
-1,302
-1,044
-4,452
-1,464
-918
-5,423
-1,473
-1,162
-6,060
-1,579
-1,012
30
31
32
-9,337
-12,475
-14,497
-22,874
-34,745
-39,703
-51,269
-34,785
-61,130
-64,331
-86,118
-110,978
-118,898
-49,490
33
2,481
787
-851
389
2,156
2,349
866
-249
1,350
382
-4
547
-703
153
_i
158
-1,467
-849
-2,558
-78
-2,212'
-268
-16
-1,667
-6,472
-5,175
(*)
-1,824
-2,491
-861
-1,196
-66
-466
-317
-1,133
—65
-1,136
-189
257
-4,965
-172
-1,265
-30
732
— 65
1,249
4,231
-4,683
-8,155
9
-33
182
-375
— 118
-121
-294
158
-1,371
-2,552
-1,041
-66
-4,434
3,304
34
35
36
37
38
-1,589
-3,293
1,721
-16
-1,884
-4,181
2,115
182
-1,568
-3,819
2,086
165
-2,644
-4,638
2,596
-602
-10,229
-7,590
-1,076
-596
-967
-12,940
-7,618
-1,113
-1,229
-2,980
-12,925
-7,747
-618
-1,054
-3,506
-20,388
-11,353
-671
-2,383
-5,980
6,359
22,970
21,461
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
-550
1,464
81
2,189
2,014
-3,909
367
-24
2,289
369
-6,298
867
11
12
366
-5,001
541
-3,474
-5,941
2,475
-9
-4,214
-6,943
2,596
133
-3,693
-6,445
2,719
33
-4,660
-7,470
2,941
-131
-3,746
-7,697
3,926
25
-5,162
-9,860
4,456
242
-5,107
-9,667
4,395
165
-6,143
-10,063
4,282
-362
-5,013
-9,931
4,969
-52
39
40
41
42
-33,643
-9,052
-1,854
-3,221
-19,516
-35,380
-14,244
-6,247
-1,357
-13,532
-44,498
-11,949
-8,885
-2,296
-21,368
-30,717
-11,890
-5,460
-1,940
-11,427
-57,202
-16,056
-3,626
-3,853
-33,667
-59,453
-25,222
-4,726
-3,291
-26,213
-72,802
-19,222
-3,563
-3,174
-46,838
-100,694
-9,624
-5,714
-1,181
-84,175
-107,790
4,756
-8,102
6,626
-111,070
-43,281
-4,881
-7,676
-5,333
-25,391
43
44
45
46
47
18,388
34,241
15,670
36,518
51,319
64,036
38,752
58,086
81,313
95,181
81,722
48
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
33,678
24,221
23,555
666
2,476
5,551
1,430
-13,665
-21,972
-22,435
463
-40
7,213
1,135
15,497
11,895
9,708
2,187
615
-159
3,145
5,003
6,308
5,019
1,289
-300
-3,670
2,665
3,318
5,034
5,728
-694
382
-1,747
—351
5,339
6,502
6,989
-487
199
433
— 1,795
49
50
51
52
53
54
55
10,986
949
-39
4,507
815
12,362
2,800
-216
4,041
1,035
23,696
4,760
697
378
1,844
8,643
2,603
2,590
2,503
319
18,826
4,347
2,783
1,284
-578
14,503
3,728
534
2,437
1,086
76,383
11,299
8,731
8,612
-1,318
56
57
58
59
60
-6,911
4,754
4,702
16,017
628
10,990
6,719
65,922,
49,059
61
717
710
-219
-9,779
-1,879
-2,654
-1,458
5,917
10,544
-2,023
2,603
5,625
4,065
2,331
-2,260
2,269
610
-1,433
-6,416
-1,941
-3,622
-5,795
911
11,021
9,078
7,140
-5,505
9,147
7,437
1,962
8,903
22,729
21,011
18,116
-9,483
9,205
7,354
4,207
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
12
4,826
12
30,358
7,897
2,178
2,254
1,889
13
16,141
52,416
11,877
4,960
1,351
1,621
13
42,589
16,892
2,645
5,457
6,852
13
76,310
23,148
2,946
7,171
917
13
91,863
14,865
7,062
6,397
-2,383
13
13
32,607
10,743
42,128
1,139
1,152
1,093
12,540
25,404
24,982
22,275
32,916
9,331
63
-31,091
-9,894
-11,724
-14,511
-33,966
-10,340
-12,270
-15,446
-27,555
4,686
2,586
-964
-25,512
8,975
6,629
1,898
-28,001
13,128
10,746
6,294
-36,469
-1,141
-3,776
-9,199
-61,055
-32,912
-35,503
-41,563
64
65
66
67
-375
35,416
732
31,202
-1,133
-13,624
-8,155
14,881
-5,175
5,303
-4,965
2,936
-1,196
5,140
68
69
62
44
SURVEY OF CURRENT BUSINESS
June 1984
Table 1.—U.S. International
[Millions
1
Line
(Credits +; debits -)
Ref.
lines
(table 1,
March
1984
Survey)
1 Exports of goods and services 2 ..
1979
1978
III
IV
IV
III
48,557
55,463
53,621
62,354
64,468
69,830
71,443
81,055
30,686
2,094
36,732
1,934
34,539
1,894
40,097
2,050
41,694
1,903
45,138
1,695
44,959
1,574
52,682
1,344
Travel..
Passenger fares..
Other transportation.
1,624
305
1,817
1,885
364
2,026
2,113
533
2,136
1,561
402
2,159
1,924
413
2,231
2,214
524
2,401
2,368
704
2,642
1,935
515
2,697
9
10
Fees and royalties from affiliated foreigners..
Fees and royalties from unaffiliated foreigners..
Other private services
U.S. Government miscellaneous services..
1,054
288
1,056
1,112
294
1,077
167
1,134
298
1,079
172
1,405
300
1,084
148
1,112
298
1,058
122
1,183
299
1,082
151
1,218
301
1,093
176
1,468
305
1,170
71
11
12
13
Receipts of income on U.S. assets abroad:
Direct investment
Other private receipts ....
U.S. Government receipts..
5,869
3,250
382
5,978
3,375
519
5,532
3,797
394
8,079
4,523
548
8,044
5,180
489
9,294
5,338
512
9,879
5,963
565
10,967
7,174
728
76
49
29
47
95
294
-78,387
2
Merchandise, adjusted, excluding military3
Transfers under U.S. military agency sales contracts..
4
5
7
10
14 Transfers of goods and services under U.S. military grant programs, net.,
15 Imports of goods and services..
16
17
Merchandise, adjusted, excluding military 3 .
Direct defense expenditures..
18
19
20
Travel...
Passenger fares..
Other transportation.
21
22
23
24
Fees and royalties to affiliated foreigners ..
Fees and royalties to unaffiliated foreigners....
Private payments for other services
U.S. Government payments for miscellaneous services....
25
26
27
Payments of income on foreign assets in the United States:
Direct investment
Other private payments..
U.S. Government payments..,
28 U.S. military grants of goods and services, net..
U.S. Government grants (excluding military grants of goods and services)..
U.S. Government pensions and other transfers..
Private remittances and other transfers..
33 U.S. assets abroad, net (increase/capital outflow (-))....
34
35
37
39
40
41
42
-57,636
-59,028
-60,393
-61,955
-68,607
-41,866
-1,680
-44,117
-1,752
-44,190
-1,874
-45,847
-2,045
-46,721
-2,001
-51,408
-1,936
-54,104
-2,087
-59,795
-2,270
-1,523
-640
-2,066
-2,176
-882
-2,236
-2,994
-798
-2,382
-1,782
-576
-2,439
-1,708
-669
-2,378
-2,575
-975
-2,656
-3,187
-889
-2,899
-1,943
-6131
-2,972
-100
-69
-612
-364
-92
-68
-631
-380
-69
-655
-350
-104
-71
-676
-450
-125
-75
-687
-350
-126
-77
-698
-357
-119
-78
-703
-596
-153
-78
-734
-415
-630
-1,785
-1,943
-1,262
-1,965
-2,074
-1,261
-2,211
-2,147
-1,058
-2,834
-2,509
-1,423
-3,067
-2,750
-1,623
-3,464
-2,711
-1,769
-3,991
-2,740
-1,542
-4,959
-2,875
-76
-49
-62
-49
-29
-47
-95
-294
-1,203
-1,323
-1,238
-1,343
-1,301
-1,382
-1,388
-1,579
34
35
36
-770
-254
-179
-831
-270
-222
-776
-276
-186
-800
-287
-256
-854
-265
-182
-911
-281
-191
-881
-304
-203
-904
-330
-345
37
-15,399
-5,775
-9,455
-30,501
-8,736
-15,921
-25,600
-14,073
-3,585
322
2,779
-649
-65
-2,357
-78
394
-52
2,831
27
-611
29 Unilateral transfers (excluding military grants of goods and services), net..
31
32
-53,278
-73,162
U.S. official reserve assets, net4..
Gold..
Special drawing rights....
Reserve position in the International Monetary FundForeign currencies
38
39
40
41
42
187
248
115
-16
324
-121
-104
437
-43
195
-37
182
-65
1,412
3,275
-4,440
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
43
44
45
46
-1,071
-1,671
643
-43
-1,199
-1,998
787
12
-1,431
-2,161
708
22
-959
-1,640
804
-122
-1,163
-1,900
783
-47
-918
-1,906
972
17
-802
-1,808
965
41
-2,083
1,205
14
47
48
51
51 + 53
54+55
-14,515
-4,889
-1,115
-2,241
-6,270
-4,824
-3,947
-1,094
315
-8,139
-2,468
-510
-29
-5,132
-29,724
-4,753
-907
-1,898
-22,167
-3,989
-5,918
-908
-15,326
-7,417
-492
504
-7,921
-27,577
-6,675
-2,331
-739
-17,833
-12,561
-5,213
-995
32
-6,385
56
18,183
851
16,882
28,120
2,307
6,862
24,449
5,134
57
58
59
60
61
62
15,448
13,021
12,904
117
553
1,456
418
-5,113
-5,598
-5,809
211
-94
-64
643
4,903
3,556
3,093
463
323
919
105
18,440
13,242
13,367
-125
1,694
3,240
264
-8,697
-8,837
-8,832
-5
-31
-51
222
-9,775
-12,766
-12,860
94
353
2,436
202
6,036
5,359
5,026
333
339
172
166
-1,228
-5,728
-5,769
41
-701
4,656
545
64
65
68
69
70+71
72+73
2,735
1,355
881
396
507
-404
5,964
2,313
793
1,082
304
1,472
11,979
2,620
-1,068
296
912
9,219
11,004
1,553
2,564
409
-296
6,773
16,637
3,353
-57
524
799
12,018
18,413
3,382
1,502
166
210
13,153
3,140
8,421
-783
1,762
4,078
9,217
4,258
7,8150
-11,180
-4,721
-5,154
-5,924
-7,385
-2,174
-2,666
-3,497
-9,651
-5,407
-6,644
-5,750
1,962
1,419
619
-5,027
2,513
2,066
1,212
-6,270
1,224
753
-158
-9,145
-1,719
-2,226
-3,107
-7,113
2,668
1,993
1,089
187
14,895
248
-5,019
115
4,580
182
16,746
-3,585
-8,666
322
-10,128
2,779
5,697
U.S. private assets, net
Direct investment
Foreign securities
U.S. claims on unaffiliated foreigners reported by U.S. nonbanking concerns..
U.S. claims reported by U.S. banks, not included elsewhere
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
Other7
Other U.S. Government liabilities 8
U.S. liabilities reported by U.S.
banks, not included elsewhere
Other foreign official assets 9
Other foreign assets in the United States, net
Direct investment
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..
U.S. liabilities reported by U.S. banks, not included elsewhere
Allocations of special drawing rights
74
Statistical discrepancy (sum of above items with sign reversed)
75
Memoranda:
Balance on merchandise trade (lines 2 and 16)10
Balance on goods and services (lines 1 and 15)
Balance on goods, services, and remittances (lines
65, 31, and 32)
Balance on current account (lines 65 and 29) 10
Transactions in U.S. official reserve assets and in foreign official assets in the United
States:
Increase (—) in U.S. official reserve assets, net (line 34)
Increase (+) in foreign official assets in the United States (line 49 less line 53)
See footnotes on page 63.
13
9,681
1,608
1,572
480
166
5,854
5,926
13
6,362
3,588
951
252
908
663
13
1,139
-649
-527
45
SURVEY OF CURRENT BUSINESS
June 1984
Transactions—Continued
of dollars]
198 0
19 81
1984
19 33
19 82
Line
I
II
III
IV
84,999
84,745
82,697
90,045
54,501
1,702
57,389
1,923
53,504
2,437
58,875
2,212
2,425
502
2,699
2,691
637
2,880
3,140
888
2,994
1,278
311
1,212
84
1,421
319
1,277
77
11,773
8,011
501
7,501
8,089
541
I
I
II
III
IV
93,229
96,605
91,160
94,727
60,354
2,140
61,699
2,571
55,845
2,859
59,187
2,433
2,332
564
3,045
2,951
602
3,105
3,254
815
3,140
3,721
1,041
3,198
1,404
330
1,315
125
1,678
344
1,354
112
1,360
361
1,430
82
1,420
372
1,460
135
8,644
7,277
640
9,228
9,422
880
8,631
11,374
840
8,516
12,443
781
III
IV
IP
83,269
82,422
85,636
90,224
1
50,337
3,084
48,312
3,028
52,283
2,827
54,085
2,600
2
3
2,904
826
3,141
3,462
893
3,302
2,320
665
3,308
2,853
709
3,276
4
5
6
1,462
393
1,629
124
1,605
393
1,604
252
1,462
395
1,613
141
1,745
399
1,628
114
1,522
404
1,728
120
7
8
9
10
4,166
12,421
1,130
5,344
12,469
1,311
5,414
13,094
1,306
5,834
13,429
1,085
8,028
13,710
1,190
11
12
13
14
I
II
III
IV
89,510
93,087
85,151
81,700
80,874
55,287
2,892
56,688
3,295
50,101
3,027
49,122
2,995
49,325
3,798
2,987
653
3,117
3,161
670
3,061
3,331
821
3,134
3,446
1,003
3,115
2,455
680
3,002
2,722
653
3,051
1,402
378
1,473
151
1,612
379
1,493
131
1,372
388
1,625
117
1,305
390
1,659
123
1,396
394
1,671
199
1,488
399
1,680
93
6,545
13,546
1,002
8,857
12,820
1,057
6,056
13,841
1,038
5,683
15,713
944
4,891
14,880
1,030
5,638
13,040
1,108
II
143
151
259
203
183
206
227
59
89
118
229
158
42
30
49
84
27
-84,854
-83,725
-81,087
-83,844
-88,817
-93,218
-90,538
-90,020
-87,102
-88,592
-90,620
-84,276
-81,658
-90,183
-94,801
-98,472
-106,458
15
-64,962
-2,550
-62,875
-2,484
-59,180
-2,610
-62,764
-2,867
-65,909
-2,672
-67,934
-2,962
-64,610
-2,611
-66,633
-2,874
-62,666
-2,840
-61,437
-3,056
-63,542
-3,029
-60,022
-3,089
-58,538
-3,008
-64,158
-3,031
-66,978
-3,083
-71,638
-3,100
-79,393
-2,884
16
17
-2,026
-740
-2,946
-2,680
-1,099
-3,036
-3,526
-1,042
-2,882
-2,165
-726
-2,926
-2,347
-1,014
-3,020
-2,948
-1,365
-3,287
-3,870
-1,218
-3,194
-2,314
-890
-2,974
-2,506
-1,126
-2,926
-3,409
-1,473
-3,090
-3,912
-1,231
-2,934
-2,567
-942
-2,773
-2,383
-1,070
-2,787
-3,701
-1,794
-3,013
-4,909
-1,511
-3,251
-2,984
-1,157
-3,272
-2,862
-1,287
-3,406
18
19
20
-109
-76
-725
-405
-66
-74
-742
-417
-52
-74
-747
-480
-200
-73
-695
-428
-150
-74
-749
-454
-39
-73
-734
-454
-96
-72
-742
-394
-151
-70
-778
-563
-33
-68
-841
-444
38
-66
-869
-458
25
-66
-891
-649
42
-67
-929
-687
-44
-69
-895
-485
-28
-70
-897
-496
-37
-71
-891
-441
-62
-72
-926
-771
63
-72
-1,018
-428
21
22
23
24
-1,726
-5,537
-3,053
-2,101
-5,213
-2,937
-3,300
-4,203
-2,992
-1,531
-5,940
-3,530
-1,778
-6,704
-3,949
-2,019
^7,164
-4,241
-1,795
-7,661
-4,277
-1,461
-7,024
-4,287
-955
-8,231
-4,467
-1,112
-9,340
-4,320
-1,062
-8,676
-4,652
-999
-7,586
-4,658
-1,700
-1,231
-6,758 , -6,961
-4,334
-4,391
-1,753
-7,461
-4,416
-2,050
-7,924
-4,516
-2,226
-8,342
-4,604
25
26
27
-143
-151
-259
-203
-183
-206
-227
-59
-89
-118
-229
-158
-42
-30
-49
-84
-27
28
-1,880
-1,357
-1,493
-2,347
-1,480
-1,564
-1,833
-1,957
-2,079
-1,808
-1,721
-2,451
-1,548
-1,855
-2,119
-3,128
-2,126
29
-1,342
-311
-227
-810
-314
-233
-919
-338
-236
-1,660
-339
-348
-960
-335
-185
-986
-333
-244
-1,232
-398
-203
-1,273
-397
-287
-1,481
-315
-283
-1,101
-384
-323
-1,088
-379
-254
-1,753
-396
-301
-974
-385
-189
-1,210
-400
-246
-1,478
-393
-248
-2,398
-400
-329
-1,429
-393
-304
30
31
32
-13,699
-24,997
-18,916
-28,507
-23,836
-22,179
-16,707
-48,254
-33,088
-41,683
-26,279
-17,848
-25,554
-1,412
-9,089
-13,435
-7,148
33
-3,268
502
-1,109
-4,279
-905
-4
262
-1,089
-1,132
-794
-1,950
-787
16
529
-953
-657
-1,152
-34
-2,082
112
-99
489
-261
-294
-554
1,285
-1,240
-4,324
-4,529
(*)
-1,441
-707
-2,381
-23
-780
-102
-225
-647
868
-134
-358
754
-400
-547
-142
-241
-814
-77
-434
-459
99
-297
-732
-920
-98
-2,139
1,450
-303
-212
531
-209
-88
826
545
-1,996
498
-226
-200
-231
34
35
36
37
38
-1,530
-2,611
918
164
-1,131
-2,350
1,171
49
-1,394
-2,576
1,173
9
-1,108
-2,322
1,195
20
-1,469
-2,594
958
168
-1,482
-2,365
1,060
-177
-1,261
-2,420
1,128
31
-896
-2,288
1,250
143
-901
-1,849
1,011
-64
-1,697
-2,524
1,027
-200
-2,580
-3,453
949
-76
-965
-2,238
1,295
-22
-1,231
-2,378
1,224
-77
-1,249
-2,422
1,210
-37
-1,229
-2,756
1,487
40
-1,305
-2,376
1,049
22
-2,090
-2,688
840
-242
39
40
41
42
-8,901
-5,849
-787
-1,062
-1,203
-24,367
-2,790
-1,387
-25
-20,165
-16,413
-3,538
-944
509
-12,440
-23,121
-7,045
-450
-2,596
-13,030
-17,838
-2,422
-505
-3,248
-11,664
-19,792
-5,613
-1,566
2,389
-15,002
-15,443
-585
-726
1,178
-15,310
-47,621
-1,004
-2,918
-1,500
-42,199
-31,098
-984
-650
3,879
-33,343
-38,853
1,360
-502
-308
-39,403
-22,906
1,100
-3,410
808
-21,405
-14,933
3,280
-3,541
2,247
-16,919
-23,536
-296
-1,866
-3,199
-18,175
-179
-587
-3,257
-230
3,894
-8,388
-3,713
-1,571
-233
—2,871
-11,178
-285
-983
-1,671
-8,239
-4,401
-4,311
244
n.a
-334
43
44
45
46
47
8,568
9,882
14,439
25,197
8,195
14,523
17,341
41,255
28,344
33,772
18,384
14,680
15,888
12,452
19,578
33,804
11,803
48
-7,413
-4,556
-5,357
801
-19
-3,198
360
7,73^
4,610
4,360
250
593
1,676
851
7,564
4,343
3,794
549
-67
1,823
1,465
7,614
7,498
6,911
587
107
-460
469
5,447
7,696
7,242
454
31
-3,109
829
-3,075
-1,542
-2,078
536
-132
-2,048
647
-5,908
-4,070.
-4,615
545
-432
-2,380
974
8,539
4,224
4,470
-246
233
3,867
215
-3,221
-1,628
-1,327
-301
-89
-1,684
180
1,399
-1,836
-2,094
258
428
2,797
10
2,477
4,611
4,803
-192
-177
-1,870
-87
2,664
3,887
4,346
-459
221
-990
-454
-252
2,641
3,012
-371
-533
-1,978
-382
1,739
1,815
1,985
-170
434
316
-826
-2,703
-974
-611
-363
137
-1,403
-463
6,555
3,020
2,603
417
161
3,498
-124
-2,859
-305
-269
-36
185
-2,140
-599
49
50
51
52
53
54
55
15,980
3,306
3,300
2,435
340
6,599
2,151
5,765
-1,271
496
1,671
-4,509
6,874
4,721
-278
263
1,252
916
17,583
3,099
894
2,263
3,590
7,737
2,747
2,610
1,390
2,419
121
-3,793
17,599
5,186
747
3,589
13
8,063
32,716
9,989
1,253
396
-301
21,380
31,565
3,159
1,302
1,314
-65
25,856
10,714
3,327
3,139
2,614
-64
1,698
22,281
3,322
13
995
1,861
1,311
14,792
27,249
2,345
1,673
1,134
-228
22,325
14,662
1,862
1,490
1,547
n.a
9,763
56
57
58
59
60
61
5,714
15,452
4,360
-544
11,617
5,831
578
4,249
4,414
5,223
15,084
8,195
11,999
-2,272
4,009
-4,405
13,704
63
. -10,461
145
-394
-1,735
-5,486
1,019
473
-337
-5,676
1,611
1,036
117
-3,889
6,201
5,514
3,854
-5,555
4,412
3,891
2,931
-6,235
3,387
2,810
1,824
-8,765
622
21
-1,211
-7,446
4,707
4,024
2,750
-7,379
2,408
1,811
330
-4,749
4,495
3,788
2,687
-13,441
-5,468
-6,101
-7,189
-10,900
-2,576
-3,274
-5,027
-9,213
-784
-1,358
-2,332
-13,821
-6,913
-7,559
-8,769
-18,666
-12,379
-13,020
-14,498
-19,355
-12,837
-13,566
-15,964
-25,308
-16,234
-16,931
-18,360
64
65
66
67
-3,268
-7,394
502
7,137
-1,109
7,631
-4,279
7,507
-4,529
5,416
-905
-2,943
-4
-5,476
262
8,306
-1,089
-3,132
-1,132
971
-794
-2,654
-1,950
2,443
-787
281
16
1,305
529
-2,840
-953
6,394
-657
-3,044
68
69
13
1,152
23,248
5,363
-444
767
1,084
16,478
13
13
32,373
3,630
2,098
2,543
-2,023
26,125
13
15,907
3,264
1,408
633
-282
10,884
13
12,017
4,812
2,254
1,907
-13
3,057
13
16,139
2,305
2,924
3,003
-2,337
10,244
13
13
62
1,093
SURVEY OF CURRENT BUSINESS
46
June 1984
Table 2.—U.S. International Trains
[Millions
19r 8
Ref.
Line
(Credits +; debits -)
(table 2,
March
1984
Survey)
1
1 Exports of goods and services 2
I
II
1979
IV
III
II
I
IV
III
1
49,187
53,819
56,214
60,775
64,907
68,178
74,257
79,454
2
3
Merchandise, adjusted, excluding military 3
Transfers under U S military agency sales contracts
2
3
30,947
2094
35,392
1934
36,811
1894
38,904
2050
42,036
1903
43,834
1,695
47,236
1,574
51,36i7
1,344
4
5
6
Travel
Passenger fares
Other transportation
4
5
6
1 673
367
1878
1788
367
1987
1839
407
2,088
1883
462
2,183
2044
497
2,298
2075
532
2,364
2,058
540
2,589
2,264
587
2,720
.
....
7
8
9
10
Fees and royalties from affiliated foreigners
Fees and royalities from unaffiliated foreigners
Other private services
U.S. Government miscellaneous services
7
8
9
10
1 130
288
1056
142
1 113
294
1077
163
1 174
298
1079
159
1,288
300
1084
156
1,171
298
1058
128
1,216
299
1,082
152
1,265
301
1,093
156
1,328
305
1,170
84
11
12
13
Receipts of income on U.S. assets abroad:
Direct investment
Other private receipts
U.S. Government receipts..
11
14
15
5917
3250
445
5841
3375
488
6,231
3797
437
7,469
4523
473
7,742
5180
552
9,063
5338
528
10,882
5963
600
10,496
7,174
615
95
294
14 Transfers of goods and services under U.S. military grant programs, net
16
76
49
62
49
29
47
15 Imports of goods and services
17
54 205
56 960
58 378
60792
62 839
68,085
72,224 —78,964
16
17
Merchandise adjusted excluding military 3
Direct defense expenditures.
18
19
42 110
1680
43754
1752
44389
1874
45767
2045
46816
2001
51 171
-1,936
54262
-2,087
59,779
-2,270
18
19
20
Travel
Passenger fares
Other transportation
20
21
22
2008
731
2 145
2028
710
2216
2231
730
2321
2208
725
2442
2230
760
2470
2377
794
2630
-2381
802
2828
-2,425
828
2,978
21
22
22
24
Fees and royalties to affiliated foreigners
Fees and royalties to unaffiliated foreigners
Private payments for other services
U.S. Government payments for miscellaneous services
23
24
25
26
100
-69
612
378
92
-68
631
383
-98
-69
655
381
-104
-71
-676
402
-125
-75
687
421
-126
-77
-698
442
-119
-78
-703
451
153
-78
734
—404
25
26
27
Payments of income on foreign assets in the United States:
Direct investment
Other private payments
U.S Government payments
27
30
31
630
1785
1 957
1262
1965
2099
1261
2211
2158
1058
2834
2460
1423
3067
2763
1623
-3464
2746
1769
-3,991
2753
— 1,542
-4,959
2814
28 U.S. military grants of goods and services, net ..
32
76
49
62
49
—29
—47
-95
29 Unilateral transfers (excluding military grants of goods and services), net
33
— 1,209
-1,316
-1,251
-1,331
-1,313
-1,386
-1,417
30
31
3?,
34
35
36
770
254
185
-831
270
215
-776
276
-199
-800
287
-244
-854
265
-194
-911
-281
-194
-881
-304
-232
U.S. Government grants (excluding military grants of goods and services)
U.S. Government pensions and other transfers
Private remittances and other transfers
33 U.S. assets abroad, net (increase/capital outflow ( — ))
14,271
322
2,779
6
-78
394
-649
-65
1 142
-86
2357
-52
2,831
27
-611
1094
-1,900
853
-47
970
-1,906
919
17
-779
-1,808
988
41
-904
2,083
1,165
14
—3,535 — 15,129 -28,069
7 166
7220
5465
2331
492
908
739
504
-3,088
5926 -7921 -17,833
12,718
5370
995
32
-6,385
15 219
5606
9703
30,601
U.S. official reserve assets, net 4
Gol^l
Special drawing rights
Reserve position in the International Monetary Fund
Foreign currencies
38
39
40
41
42
187
248
115
3585
16
324
121
104
437
85
43
195
37
182
65
1412
3,275
4440
39
40
41
42
U.S. Government assets, other than official reserve assets net
U.S. loans and other long-term
assets ..'.
Repayments on U.S. loans 5
U.S. foreign currency holdings and U.S. short-term assets, net
43
44
45
46
1 009
l'671
705
43
1 257
1998
729
12
1394
2161
745
22
999
1,640
763
-122
43
44
45
46
47
U.S. private assets, net
Direct investment
Foreign securities
U.S. claims on unaffiliated foreigners reported by U.S. nonbanking concerns
U.S. claims reported by U.S. banks, not included elsewhere
4597
3 720
1 094
315
98
8424 — 29,784
2753
4812
907
510
-29 -1,898
5132
22167
47
48
51
52+53
54+55
14397
4 771
1 115
2241
6270
48 Foreign assets in the United States, net (increase/capital inflow ( + ))
56
18183
851
16,882
28,120
49
50
51
52
53
54
55
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 elsewhere
Other foreign official assets 9 ...
57
58
59
60
61
62
63
15448
13021
12904
117
553
1456
418
5113
5598
5809
211
94
64
643
4903
3556
3093
463
323
919
105
18440
13,242
13367
125
1,694
3240
264
56
57
58
59
60
61
Other foreign assets in the United States net
Direct investment
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
U.S. liabilities reported by U.S. banks, not included elsewhere
64
65
68
69
70+71
72+73
2735
1355
881
396
507
404
5964
2313
793
1082
304
1472
11979
2620
1068
296
912
9219
75
75a
3 262
122
9 212
792
3 764
2981
3 829
2067
4 013
65
6863
17
548
1 348
4780
2068
1609
755
63 Statistical discrepancy (sum of above items with sign reversed)
63a
Of w h ich seasonal adjustment discrepancy
Memoranda:
Balance on merchandise trade (lines 2 and 16)10
Balance on goods and services (lines 1 and 15)
Balance on goods, services, and remittances (lines
65, 31, and 32)
Balance on current account (lines 65 and 29) 10
76
77
78
79
11 163
5018
5457
6227
8362
3 141
3626
4 457
7578
2 164
2639
3 415
68
69
Transactions in U.S. official reserve assets and in foreign official assets in the United States:
Increase (— ) In U.S. official reserve assets net (line 34)
Increase ( + ) in foreign official assets in the United States (line 49 less line 53)
80
81
187
14895
248
5019
115
4580
24,449
5,134
6036
5,359
5,026
333
339
172
166
-1,228
-5,728
-5,769
4]
-701
4,656
545
16637
3353
57
524
799
12018
18413
3382
1502
166
210
13153
6362
3,588
951
11
252!
908
663
1,139
64
65
66
67
See footnotes on page i
6,862
9775
8697
-8,837 -12,766
12860
8832
5
94
353
-31
2436
51
202
222
2,307
9681
11004
1608
1553
1 1 1 572 1 1 2 564
480
409
166
296
5854
6773
74
-904
-331)
-301
—8,214 — 15,777 -26,069
37
34
35
36
37
38
62 Allocations of special drawing rights
-294
-1,5315
182
16746
3 585
8666
10 207
990
7337
93
382
1 293
322
10128
1 004
3254
10 1812
2332
7026
2033
1497
616
8412
2779
5697
490
141
1 045
649
—527
June 1984
47
SURVEY OF CURRENT BUSINESS
actions—Seasonally Adjusted
of dollars]
1980
1984
1983
1982
1981
Line
I
I
II
III
IV
85,317
82,856
85,584
88,730
54,752
1,702
55,843
1,923
55,785
2,437
57,889
2,212
2,547
612
2,771
2,534
642
2,843
2,737
682
2,936
1,367
311
1,212
94
1,465
319
1,277
77
11,348
8,011
590
7,253
8,089
591
II
III
IV
94,002
94,793
93,352
93,576
60,793
2,140
60,064
2,571
57,812
2,859
58,416
2,433
2,770
655
3,068
3,108
734
3,180
3,102
804
3,108
3,228
804
3,137
1,453
330
1,315
102
1,495
344
1,354
125
1,458
361
1,430
97
1,445
372
1,460
131
9,849
7,277
681
8,696
9,422
700
8,427
11,374
900
8,415
12,443
878
II
III
IV
I"
81,111
81,355
84,826
84,910
90,620
1
49,246
3,798
48,745
3,084
50,437
3,028
51,829
2,827
54,164
2,600
2
3
2,896
800
3,015
2,832
779
3,113
2,806
792
3,122
2,998
685
3,241
2,772
781
3,326
2,977
853
3,343
4
5
6
1,436
394
1,671
175
1,357
399
1,680
113
1,555
393
1,629
148
1,608
393
1,604
228
1,509
395
1,613
118
1,603
399
1,628
136
1,616
404
1,728
144
7
8
9
10
5,651
14,880
974
5,036
13,040
1,086
4,087
12,421
1,110
5,261
12,469
1,243
6,247
13,094
1,281
4,982
13,429
1,198
7,957
13,710
1,124
11
12
13
I
IV
II
III
90,082
91,274
87,158
80,936
55,482
2,892
55,118
3,295
52,079
3,027
48,519
2,995
3,475
769
3,135
3,280
805
3,127
3,178
795
3,113
3,039
774
3,058
1,448
378
1,473
125
1,443
379
1,493
146
1,460
388
1,625
134
1,308
390
1,659
111
7,554
13,546
988
8,153
12,820
914
5,990
13,841
1,058
5,592
15,713
1,002
I
143
151
259
203
183
206
227
59
89
118
229
158
42
30
49
84
27
14
-85,178
-82,815
-80,614
-84,906
-88,952
-92,113
-91,065
-90,468
-87,812
-87,545
-90,389
-84,844
-82,481
-89,067
-94,529
-99,037
-107,876
15
-64,483
-2,550
-62,414
-2,484
-59,783
-2,610
-63,101
-2,867
-65,275
-2,672
-67,373
-2,962
-66,214
-2,611
-66,224
-2,874
-62,546
-2,840
-60,921
-3,056
-64,442
-3,029
-59,758
-3,089
-58,523
-3,008
-63,615
-3,031
-67,938
-3,083
-71,236
-3,100
-79,805
-2,884
16
17
-2,603
-840
-3,055
-2,481
-891
-2,998
-2,611
-951
-2,813
-2,702
-925
-2,924
-2,913
-1,127
-3,119
-2,761
-1,100
-3,189
-2,894
-1,119
-3,125
-2,911
-1,141
-3,041
-3,074
-1,233
-3,019
-3,165
-1,183
-2,985
-2,945
-1,148
-2,877
-3,210
-1,208
-2,841
-2,940
-1,174
-2,873
-3,500
-1,449
-2,902
-3,741
-1,419
-3,190
-3,796
-1,490
-3,357
-3,552
-1,405
-3,515
18
19
20
-109
-76
-725
-421
-66
-74
-742
-414
-52
-74
-747
-478
-200
-73
-695
-418
-150
-74
-749
-442
-39
-73
-734
-458
-96
-72
-742
-459
-151
-70
-778
-506
-33
-68
-841
-505
38
-66
-869
-566
25
-66
-891
-626
42
-67
-929
-541
-44
-69
-895
-575
-28
-70
-897
-580
-37
-71
-891
-529
-62
-72
-926
-508
63
-72
-1,018
-516
21
22
23
24
-1,726
-5,537
-3,053
-2,101
-5,213
-2,937
-3,300
-4,203
-2,992
-1,531
-5,940
-3,530
-1,778
-6,704
-3,949
-2,019
-7,164
-4,241
-1,795
-7,661
-4,277
-1,461
-7,024
-4,287
-955
-8,231
-4,467
-1,112
-9,340
-4,320
-1,062
-8,676
-4,652
-999
-7,586
-4,658
-1,231
-6,758
-4,391
-1,700
-6,961
-4,334
-1,753
-7,461
-4,416
-2,050
-7,924
-4,516
-2,226
-8,342
-4,604
25
26
27
-143
-151
-259
-203
-183
-206
-227
-59
-89
-118
-229
-158
-42
-30
-49
-84
-27
28
-1,902
-1,368
-1,521
-2,286
-1,494
-1,563
-1,860
-1,916
-2,105
-1,802
-1,745
-2,406
-1,573
-1,848
-2,143
-3,086
-2,152
29
-1,342
-311
-249
-810
-314
-244
-919
-338
-264
-1,660
-339
-287
-960
-335
-199
-986
-333
-244
-1,232
-398
-230
-1,273
-397
-246
-1,481
-315
-309
-1,101
-384
-317
-1,088
-379
-278
-1,753
-396
-257
-974
-385
-214
-1,210
-400
-238
-1,478
-393
-272
-2,398
-400
-288
-1,429
-393
-330
30
31
32
-12,949
-24,893
-19,522
-28,752
-23,351
-22,284
-17,254
-48,086
-31,960
-41,409
-26,216
-19,314
-24,364
-1,060
-9,223
-14,843
-5,927
33
-3,268
-502
-1,109
-4,279
-4,529
-905
-4
262
-1,089
-1,132
-794
-1,950
-787
16
529
-953
-657
-1,152
-34
-2,082
ii'2
-99
489
-261
-294
-554
1,285
-1,240
-4,324
-i,44'i
-707
-2,381
-23
-780
-102
-225
-647
868
-134
-358
754
-400
-547
-142
-241
-814
-77
-434
-459
99
-297
-732
-920
-98
-2,139
1,450
-303
-212
531
-209
-88
826
545
-1,996
498
-226
-200
-231
34
35
36
37
38
-1,441
-2,611
1,006
164
-1,159
-2,350
1,142
49
-1,382
-2,576
1,185
9
-1,178
-2,322
1,124
20
-1,361
-2,594
1,065
168
-1,491
-2,365
1,051
-177
-1,268
-2,420
1,121
31
-986
-2,288
1,159
143
-803
-1,849
1,110
-64
-1,700
-2,524
1,024
-200
-2,555
-3,453
974
-76
-1,086
-2,238
1,174
-22
-1,130
-2,378
1,325
-77
-1,251
-2,422
1,208
-37
-1,204
-2,756
1,512
40
-1,429
-2,376
925
22
-1,989
-2,688
941
-242
39
40
41
42
-8,240
-5,188
-787
-1,062
-1,203
-24,236
-2,659
-1,387
-25
-20,165
-17,031
-4,156
-944
509
-12,440
-23,295
-7,219
-450
-2,596
-13,030
-17,461
-2,044
-505
-3,248
-11,664
-19,888
-5,709
-1,566
2,389
-15,002
-15,982
-1,124
-726
1,178
-15,310
-47,362
-745
-2,918
-1,500
-42,199
-30,068
46
-650
3,879
-33,343
-38,577
1,636
-502
-308
-39,403
-22,867
1,140
-3,410
808
-21,405
-16,279
1,934
-3,541
2,247
-16,919
-22,447
793
-1,866
-3,199
-18,175
175
-232
-3,257
-230
3,894
-8,548
-3,873
-1,571
-233
-2,871
-12,461
-1,568
-983
-1,671
-8,239
-3,281
-3,191
244
n.a.
-334
43
44
45
46
47
8,568
9,882
14,439
25,197
8,195
14,523
17,341
41,255
28,344
33,772
18,384
14,680
15,888
12,452
19,578
33,804
11,803
48
-7,413
-4,556
-5,357
801
-19
-3,198
360
7,731
4,610
4,360
250
593
1,676
851
7,564
4,343
3,794
549
-67
1,823
1,465
7,614
7,498
6,911
587
107
-460
469
5,447
7,696
7,242
454
31
-3,109
829
-3,075
-1,542
-2,078
536
-132
-2,048
647
-5,908
-4,070
-4,615
545
-432
-2,380
974
8,539
4,224
4,470
-246
233
3,867
215
-3,221
-1,628
-1,327
-301
-89
-1,684
180
1,399
-1,836
-2,094
258
428
2,797
10
2,477
4,611
4,803
-192
-177
-1,870
-87
2,664
3,887
4,346
-459
221
-990
-454
-252
2,641
3,012
-371
-533
-1,978
-382
1,739
1,815
1,985
-170
434
316
-826
-2,703
-974
-611
-363
137
-1,403
-463
6,555
3,020
2,603
417
161
3,498
-124
-2,859
-305
-269
-36
185
-2,140
-599
49
50
51
52
53
54
55
15,980
3,306
"3,300
2,435
340
6,599
2,151
5,765
-1,271
496
1,671
-4,509
6,874
4,721
-278
263
1,252
916
17,583
3,099
894
2,263
3,590
7,737
2,747
2,610
1,390
2,419
121
-3,793
17,599
5,186
747
3,589
13
8,063
23,248
5,363
ii_444
767
1,084
16,478
32,716
9,989
1,253
396
-301
21,380
31,565
3,159
1,302
1,314
-65
25,856
32,373
3,630
"2,098
2,543
-2,023
26,125
15,907
3,264
1,408
633
-282
10,884
12,017
4,812
"2,254
1,907
-13
3,057
16,139
2,305
"2,924
3,003
2,337
10,244
10,714
3,327
"3,139
2,614
-64
1,698
22,281
3,322
"995
1,861
1,311
14,792
27,249
2,345
1,673
1,134
-228
22,325
14,662
1,862
1,490
1,547
n.a.
9,763
56
57
58
59
60
61
4,993
-721
16,338
886
1,635
-2,725
2,017
2,561
10,508
-1,109
6,644
813
-513
-1,091
5,638
1,389
3,450
-964
5,710
487
12,808
-2,276
10,947
2,752
11,420
-579
-1,833
439
1,491
-2,518
-1,748
2,657
13,532
-172
63
63a
-9,731
139
-421
-1,763
-6,571
41
-517
-1,327
-3,998
4,970
4,368
3,449
-5,212
3,824
3,198
1,538
-4,482
5,050
4,516
3,556
-7,309
2,680
2,103
1,117
-8,402
2,287
1,659
427
-7,808
3,108
2,465
1,192
-7,064
2,270
1,646
165
-5,803
3,729
3,028
1,927
-12,363
-3,231
-3,888
-4,976
-11,239
-3,908
-4,561
-6,314
-9,277
-1,370
-1,969
-2,943
-14,870
-7,712
-8,350
-9,560
-17,501
-9,703
-10,368
-11,846
-19,407
-14,127
-14,815
-17,213
-25,641
-17,256
-17,979
-19,408
64
65
66
67
-3,268
-7,394
502
7,137
-1,109
7,631
-4,279
7,507
-4,529
5,416
-905
-2,943
-4
-5,476
262
8,306
-1,089
-3,132
-1,132
971
-794
2,654
-1,950
2,443
-787
281
16
1,305
529
-2,840
-953
6,394
-657
-3,044
68
69
1,152
11
11
62
1,093
48
June 1984
SURVEY OF CURRENT BUSINESS
Table 3.—U.S.
[Millions
Line
1983
1973
1974
1975
1976
1977
1978
1979
1980
1981
1982
70,938
98,042
107,651
115,229
121,231
143,682
181,860
220,626
233,677
212,193
200,486
85
94
92
86
92
102
109
156
178
163
220
14
36
159
317
1,285
883
350
967
4,485
-7,369
1,027
4,449
-6,546
A Balance of payment adjustments to Census trade data:
EXPORTS
1 Merchandise exports, Census basis1 including reexports and excluding military grant shipments.
Adjustments:
2
Private gift parcel remittances
3
Gold exports, nonmonetary
4
5
6
Inland U.S. freight to Canada
U.S.-Canadian reconciliation adjustments, n.e.c., net 2
Merchandise exports transferred under U.S.3 military agency sales
contracts identified in Census documents.
Other adjustments, net 4
Of which quarterly seasonal adjustment discrepancy 5
404
1,158
-1,278
557
1,250
-1,753
601
1,148
-2,620
659
1,546
-2,976
691
2,027
-3,285
756
2,118
-4,720
899
4,662
-3,229
1,043
5,103
-3,317
1,151
5,108
-4,921
103
116
216
201
46
80
13
341
606
-124
271
9 Equals: Merchandise exports, adjusted to balance of payments
basis excluding "military" (table 1, line 2).
71,410
98,306
107,088
114,745
120,816
142,054
184,473
224,269
237,085
211,198
200,257
70,473
102,576
98,509
123,478
150,390
174,757
209,458
244,871
261,305
243,952
258,048
Electric energy ...
Gold imports, nonmonetary
Inland freight in Canada
U S.-Canadian reconciliation adjustment n e e net 2
Merchandise 3imports of U.S. military agencies identified in Census
documents.
Other adjustments, net 6
Of which quarterly seasonal adjustment discrepancy 5
109
156
305
510
-310
179
359
103
83
164
608
353
1286
422
844
623
1407
664
2772
940
1,816
154
-361
160
-293
92
-297
188
-239
247
-162
403
-225
419
-394
623
-307
910
1,462
1,118
115
-427
999
290
1,357
38
-451
276
904
57
367
305
406
362
1449
709
537
1,031
18 Equals: Merchandise imports, adjusted to balance of payments
basis, excluding "military" (table 1, line 18).
70,499
103,811
98,185
124,228
151,907
176,020
212,028
249,781
265,086
247,667
261,312
71,410
98,306
107 088
114,745
120,816
142,054
184,473
224,269
237,085
211,198
200,257
67,603
53466
6,673
7,539
11449
5,606
7454
12,818
1693
14,137
65,108
51366
5,643
7,431
10,502
5,415
7,358
12,483
2,622
13,742
59,701
46,905
5,153
7,194
9,213
4,641
7,455
10,694
2,419
12,796
54,877
43,332
4,973
5,972
8,358
3,902
7,635
10,384
2,216
11,545
41626
20806
7,117
46016
21,796
8,998
39,203
20,694
7,656
43,813
21,677
6,584
7
8
IMPORTS
10 Merchandise imports, Census basis1 (general imports) ..
Adjustments:
11
12
13
14
15
16
17
B Merchandise trade, by area and country,
adjusted to balance of
payments basis, excluding military: 7
EXPORTS
1 Total, all countries
2
3
4
5
6
7
8
9
10
11
Western Europe
European Communities (10) .
Belgium and Luxembourg
France
Germany, Federal Republic of..
12
13
14
Canada2
Japan
Australia, New Zealand, and South Africa
15
Eastern Europe
2047
1737
3249
4123
2895
3893
5913
4,143
4,440
3,749
2,918
16
17
18
19
20
Latin America and Other Western Hemisphere
Brazil
Mexico
Venezuela
....
Other
9,961
na
2962
1 026
na
15820
na
4860
1 778
na
17 108
na
5166
2 250
na
16,871
na
5011
2 622
na
17,921
na
4834
3 162
na
22,033
2959
6689
3727
8658
28,555
3425
9931
3933
11266
38,844
4,359
15231
4574
14680
42,804
3,784
18207
5441
15,372
33,152
3,446
11,736
5192
12,779
25,581
2,550
9,081
2,700
11,251
21
22
23
24
25
26
27
28
Other countries in Asia and Africa
Asia
Members of OPEC ..
China
Hong Kong
Korea Republic of
Singapore
Taiwan
10,873
na
1724
na
na
na
na
na
16262
na
3311
na
na
na
na
20235
na
5809
na
na
na
na
na
21,416
na
6948
na
na
na
na
na
23,030
na
7319
na
na
na
na
na
28,180
23466
8633
863
1625
2929
1,452
2165
34,075
29141
8372
1,731
2082
3830
2251
3089
44,097
37332
9655
3,821
2682
4403
3,028
4089
47,835
39,473
11 597
3,624
2,633
4998
2,967
4033
46,978
39,817
12000
2,920
2,450
5286
3,206
4006
44,742
38,354
10,143
2,173
2,563
5,671
3,702
4,260
491
804
na
1484
na
1581
na
1839
4576
1886
4706
1557
6504
2281
7873
3207
6933
2647
5820
1,713
33
88
65
65
137 152
17368
69716
141 918
21097
73982
127 254
20651
63228
1126 951
15,149
58092
29
30
31
Netherlands
United Kingdom
Other
Western Europe, excluding EC (10)
Africa
Members of OPEC
21216
16708
1627
2319
3723
2134
2556
3760
571
4508
28 164
21744
2*368
3007
4687
2750
3663
4706
547
6420
29884
22854
2464
3 105
5052
2855
3809
4881
615
7030
31883
24917
3003
3,552
5404
3059
4161
5101
726
6966
34094
26494
3 167
3,536
5850
2790
4 172
6035
925
7,600
39,546
31778
3682
4,258
7204
3,371
4843
7,277
1 123
7,768
54,177
42474
5223
5,663
8694
4459
6334
10,686
1425
11,703
16710
8356
2,247
21 842
10724
3,757
23537
9567
3508
26336
10196
3,920
28533
10566
3,777
31229
12960
4,213
38690
17629
5,434
International organizations and unallocated
Memoranda:
32
33
34
7
Industrial countries
7
Members of OPEC
7
Other countries
See footnotes on page 63.
48529
3414
19467
64487
6219
27600
66496
9957
30635
72335
11561
30849
76970
12877
30969
87948
14846
39260
115 930
14556
53987
49
SURVEY OF CURRENT BUSINESS
June 1984
Merchandise Trade
of dollars]
Not seasonally adjusted
1982
I
II
55,295
57,011
Seasonally adjusted
1983
III
IV
50,214
49,673
I
II
III
IV
I"
53,782
I
II
IV
52,843
48,870
50,491
48,377
51,558
36
75
59
41
38
24
27
45
250
141
198
54,952
I
III
50,060
55,659
1984
1983
1982
1984
II
III
IV
I"
53,266
Line
50,234
48,709
50,325
51,394
60
57
52
36
75
59
2
294
224
99
27
45
3
41
38
24
60
57
52
250
141
198
294
224
99
242
1,214
-1,615
252
1348
-1,827
236
966
-1,688
237
957
-2,239
236
719
-1,701
260
1,355
-1,805
259
1,213
-1,899
272
1,162
-1,141
369
1,283
-1,122
250
1,214
-1,615
238
1,348
-1,827
247
966
-1,688
232
957
-2,239
242
719
-1,701
249
1,355
-1,805
265
1,213
-1,899
271
1,162
-1,141
381
1,283
-1,122
4
5
6
-140
-275
151
140
-270
-115
326
330
-331
-317
— 177
228
503
-511
-662
345
205
-529
259
86
201
497
171
41
-289
252
583
7
8
55,287
56,688
50,101
49,122
49,325
50,337
48,312
52,283
54,085
55,482
55,118
52,079
48,519
49,246
48,745
50,437
51,829
54,164
9
61,694
60,498
62,819
58,941
58,053
63,504
66,379
70,112
79,346
62,161
59,378
63,361
59,053
58,459
62,276
66,993
70,423
79,504
10
259
211
278
307
129
184
311
292
13
— 108
200
546
269
-216
—97
267
394
279
11
—93
228
117
334
260
40
313
285
44
368
272
71
414
244
71
414
•tAQ
— I4o
1AQ
— 1UO
—69
227
89
342
38
— 119
295
44
368
10/4
286
394
279
11
—93
289
40
313
— J.O4
223
546
269
216
—97
188
117
334
10Q
— \.£tO
223
211
278
307
10Q
— i^y
178
311
292
13
—69
226
89
342
38
— 11Q
iiy
— 129
— 134
— 148
11
12
13
14
15
46
247
21
223
-125
78
115
963
-562
-505
-551
857
610
356
335
-172
-395
-506
-381
762
-684
432
317
240
-723
-280
282
16
17
62,666
61,437
63,542
60,022
58,538
64,158
66,978
71,638
79,393
62,546
60,921
64,442
59,758
58,523
63,615
67,938
71,236
79,805
18
55,287
56,688
50,101
49,122
49,325
50,337
48,312
52,283
54,085
55,482
55,118
52,079
48,519
49,246
48,745
50,437
51,829
54,164
1
15,745
12,292
1,349
1,835
2,551
1,191
1,980
2,755
624
3,453
15,789
12,410
1,375
1,880
2,428
1,360
2,128
2,740
620
3,379
13,682
10,723
1,211
1,707
2,004
990
1,584/
2,597
599
2,959
14,485
11,480
1,218
1,772
2,230
1,100
1,763
2,602
576
3,005
14,948
11,549
1,244
1,807
2,072
1,135
2,224
2,671
572
3,399
13,674
10,872
1,216
1,510
2,108
1,023
1,834
2,656
541
2,802
12,348
9,906
1,150
1,248
1,992
794
1,751
2,407
554
2,442
13,907
11,005
1,363
1,407
2,186
950
=1,826
2,650
549
2,902
14,900
11,952
1,319
1,570
2,337
1,162
2,071
2,932
562
2,948
15,787
12,346
1,357
1,854
2,565
1,193
1,961
2,785
625
3,441
15,375
12,069
1,336
1,818
2,363
1,328
2,099
2,645
602
3,306
14,237
11,147
1,261
1,761
2,080
1,033
1,680
2,680
622
3,090
14,303
11,343
1,200
1,762
2,207
1,088
1,715
2,584
570
2,959
14,931
11,546
1,244
1,821
2,072
1,134
2,189
2,693
570
3,385
13,240
10,518
1,175
1,456
2,040
994
1,793
2,554
522
2,722
12,915
10,341
1,202
1,293
2,080
830
1,852
2,495
580
2,574
13,791
10,928
1,352
1,403
2,166
945
1,801
2,643
545
2,863
14,906
11,981
1,321
1,581
2,342
1,159
2,048
2,962
566
2,925
2
3
4
5
6
7
8
9
10
11
9,863
5,199
2,022
10,801
5,068
2,245
9,353
5,116
1,868
9,186
5,311
1,521
9,882
4,728
1,430
11,670
5,208
1,844
10,526
5,597
1,653
11,735
6,144
1,656
12,967
5,591
1,949
9,982
5,185
2,053
10,467
4,957
2,164
9,614
5,349
1,923
9,140
5,203
1,515
9,967
4,676
1,446
11,285
5,066
1,775
10,833
5,892
1,709
11,728
6,043
1,650
13,112
5,557
1,963
12
13
14
1,618
1,030
382
719
806
618
396
1,098
968
1,559
1,056
419
717
778
631
437
930
15
8,727
853
3,617
1,245
3,012
9,378
925
3,575
1,352
3,527
8,185
993
2,805
1,353
3,034
6,862
675
1,739
1,242
3,206
6,198
571
2,085
853
2,690
6,155
673
2,309
519
2,653
6,767
671
2,419
589
3,089
6,461
635
2,268
739
2,819
6,880
509
2,817
842
2,713
8,794
853
3,658
1,252
3,031
9,089
897
3,463
1,309
3,420
8,486
1,028
2,893
1,401
3,164
6,783
668
1,722
1,229
3,164
6,172
569
2,069
851
2,684
5,957
653
2,240
503
2,561
7,069
699
2,527
620
3,223
6,383
630
2,244
726
2,783
6,890
509
2,816
840
2,724
16
17
18
19
20
12,081
10,003
3,064
905
606
1,168
738
1,050
12,377
10,495
3,213
809
626
1,387
785
1,052
11,482
9,821
2,960
687
644
1,371
877
919
11,038
9,498
2,763
519
574
1,360
806
985
11,332
9,605
2,660
669
571
1,377
933
822
11,135
9,691
2,586
365
683
1,424
1,186
1,044
11,025
9,295
2,517
398
621
1,398
714
1,167
11,250
9,763
2,380
741
688
1,472
869
1,227
10,830
9,434
2,240
570
656
1,389
825
1,109
12,090
10,028
3,097
879
609
1,158
747
1,051
12,012
10,178
3,089
803
607
1,356
756
1,028
12,019
10,257
3,072
734
669
1,441
901
966
10,857
9,355
2,742
503
566
1,331
801
962
11,276
9,581
2,672
661
573
1,360
947
811
10,758
9,357
2,471
360
660
1,388
1,143
1,013
11,584
9,744
2,633
415
646
1,476
740
1,230
11,127
9,672
2,367
738
684
1,446
872
1,207
10,807
9,434
2,250
567
658
1,378
835
1,102
21
22
23
24
25
26
27
28
1,918
799
1,867
704
1,425
446
1,723
698
1,639
467
1,453
424
1,441
389
1,287
433
1,341
357
1,905
797
1,820
689
1,510
471
1,699
690
1,610
463
1,413
414
1,537
411
1,260
424
1,324
353
29
30
32
32,828
5,310
17,116
33
33,902
5,476
17,310
30,018
4,982
15,068
32
33
30,502
4,883
13,737
30,987
4,096
14,242
32,396
3,681
14,227
30,123
3,672
14,518
33,440
3,700
15,110
oq
32
35,405
3,636
15,044
33,005
5,350
17,093
32,962
5,287
16,870
31,122
5,175
15,749
31,020
4,101
14,125
31,366
3,534
13,812
31
32
33
30,161
4,840
13,519
1,074
31,349
3,849
15,241
33,212
3,664
14,920
35,537
3,640
14,987
32
33
34
50
SURVEY OF CURRENT BUSINESS
June 1984
Table 3.—U.S. Merchandise
[Millions
1983
1973
1974
1975
1976
1977
1978
1979
1980
1981
1982
35 Total, all countries...
70,499
103 811
98185
124 228
151 907
176,020
212,028
249,781
265,086
247,667
261,312
36
37
38
39
40
41
42
43
44
45
Western Europe
European Communities (10)
Belgium & Luxembourg
France
Germany, Federal Republic of
Italy
Netherlands
United Kingdom
Other
Western Europe, excluding EC (10)
19774
15816
1,274
1741
5591
2,004
1037
3527
670
3,958
24267
19244
1,658
2339
6302
2,589
1437
4123
723
5,023
20764
16513
1,184
2144
5358
2,391
1082
3737
631
4,251
23003
17739
1,116
2521
5581
2,525
1076
4160
756
5,264
28226
22119
1,449
3046
7249
3,038
1478
5135
821
6,107
36618
29,058
1,762
4068
9,970
4,108
1590
6,475
1,009
7,560
41826
33,228
1,739
4783
10,953
4,923
1851
8,009
1,032
8,598
47255
36,097
1,912
5263
11,692
4,309
1895
9,848
1,137
11,158
52,873
41,424
2,281
5,839
11,389
5,181
2,348
12,746
1,693
11,449
52,908
42,349
2,386
5,533
11,902
5,290
2,476
13,046
1,696
10,559
53,896
43,739
2,402
6,011
12,642
5,444
2,960
12,392
1,861
10,157
46
47
48
Canada2
Japan
Australia, New Zealand, and South Africa
17,694
9665
1,852
22,554
12414
2,019
21,854
11257
2242
26,652
15531
2,479
29,864
18565
2792
33,758
24,541
4,440
39,229
26261
5,493
42,903
31217
6,533
48,258
37,598
5,610
48,526
37,685
5,033
54,359
41,307
5,317
49
Eastern Europe ..
50
51
52
53
54
Latin America and Other Western Hemisphere
Brazil
Mexico
Venezuela
Other
55
56
57
58
59
60
61
62
Other countries in Asia and Africa
Asia
Members of OPEC
China
Hong Kong
Korea, Republic of
Singapore
Taiwan
Line
B Merchandise trade, by area and country, adjusted
to balance of
payments basis, excluding military— Continued 7
IMPORTS
63
64
Africa
Members of OPEC
65
,
601
977
734
875
1 127
1,508
1,896
1444
1,553
1,067
1,371
9,644
na
2,306
1814
na
18,658
na
3,391
4777
na
16,177
na
3,059
3727
na
17,208
na
3,599
3597
na
21,164
na
4,694
4117
na
23,041
2,826
6,094
3,589
10,532
30,535
3,133
8,801
5204
13,397
37,525
3,793
12,584
5314
15,834
39,099
4,475
13,767
5,563
15,294
38,559
4,808
15,556
4,761
13,434
41,867
4,953
16,774
4,,937
15..204
11269
n.a
1759
na
n.a.
na
na
na
22922
na
6993
na
n.a.
na
na
na
25157
na
8531
na
na
na
na
na
38171
na
13090
na
n.a
na
na
na
49515
na
17020
na
na
na
na
na
51,362
35,683
16162
'326
3,476
3746
1,068
5174
65602
42,425
19306
594
3,998
4047
1,467
5908
" 81,617
49,931
22792
1057
4,739
4244
1,921
6854
80,095
55,302
23330
1,892
5,422
5,141
2,114
8049
63,866
47,894
14,784
2,284
5,531
5,667
2,193
8,892
63.195
50..544
10.873
21248
6,374
7,192
2!,864
11,204
na
1339
na
4991
na
6178
na
10178
na
14020
15,500
12794
22,965
19699
31,103
26620
24,648
20020
15,941
10,840
12,398
7,945
309
654
752
1,186
1,287
International organizations and unallocated
23
Memoranda:
Industrial countries7 7
Members of OPEC
...
Other countries 7
66
67
68
48985
5097
16417
61254
17234
25323
56117
18897
23171
67665
27409
28845
79447
35778
36028
99,357
33286
42625
112,809
45039
52994
127,908
55602
64984
144,339
49934
70,813
144,152
31,517
71,975
154,534
25,185
81,592
31 091
BALANCE (EXCESS OF EXPORTS +)
911
5 505
8903
9 433
33966
27 555
25512
28,001
36,469
-61,055
1,442
892
353
578
1868
130
1519
233
99
550
3897
2500
710
668
1615
161
2226
583
176
1397
9120
6341
1280
961
306
464
2727
1 144
16
2779
8880
7178
1887
1031
177
534
3085
941
30
1 702
5868
4375
1718
490
1399
248
2694
900
104
1 493
2,928
2720
1,920
190
2,766
737
3253
802
114
208
12,351
9246
3,484
880
-2,259
464
4483
2,677
393
3 105
20,348
17369
4,761
2276
-243
1297
5,559
2,970
556
2979
12,235
9,942
3,362
1,592
-887
234
5,010
-263
929
2,293
6,793
4,556
2,767
1,661
-2,689
-649
4,979
-2,352
723
2,237
981
-407
2,571
-39
4,284
-1,542
4,675
-2,008
355
1,388
Canada 2
Japan
Australia, New Zealand, and South Africa
984
1309
395
712
1690
1,738
1 683
1690
1266
316
5335
1441
1 331
7999
985
2529
11581
-227
539
8632
-59
1277
10411
584
2242
— 15,802
3,388
9323
-16,991
2,623
10546
-19.630
1,267
83
Eastern Europe
1446
760
2515
3248
1768
2385
4017
2699
2887
2,682
1,547
84
85
86
87
88
Latin America and Other Western Hemisphere
Brazil
Mexico
Venezuela
Other
317
na
656
788
na
2838
na
1,469
2 999
na
931
3243
2107
1 477
na
337
na
1412
975
na
1008
133
595
138
1874
1980
292
1,130
1 271
2131
1319
566
2,647
740
1 154
3,705
691
4,440
122
78
-5,407
1362
-3,820
431
—655
-16,286
2,403
-7,693
2237
-3,953
89
90
91
92
93
94
95
96
Other countries in Asia and Africa
Asia
Members of OPEC ...
China
Hong Kong
Korea, Republic of
Singapore ..
Taiwan
396
na
35
na
n.a.
na
n.a.
na
6660
4922
16755
26485
3682
na
n.a.
na
na
na
2722
na
na
na
na
na
6142
na
na
na
na
na
9701
na
na
na
na
na
23182
12217
7529
537
-1,851
817
384
3009
31527
13284
10934
1 137
-1,916
217
784
2819
37520
12599
13137
2764
-2,057
159
1 107
2765
32260
15829
11733
1732
-2,789
143
853
4016
16888
8077
2784
'636
-3,081
381
1,031
4886
-18,453
12190
730
-75
-3,811
1521
838
6944
na
848
na
4187
4694
8597
12181
10924
10908
18259
18142
24599
24339
16775
16813
9008
8193
6578
6232
-309
-654
-752
-1,186
— 1,254
88
42
65
4 670
15848
2004
2477
22901
5059
11 409
18440
3365
3 121
30483
993
9 244
38234
4732
2421
28837
3169
16 898
10866
8747
27928
10 036
23,156
69 Total, all countries
70
71
72
73
74
75
76
77
78
79
Western Europe
European Communities (10) ...
Belgium & Luxembourg
France
Germany, Federal Republic of
80
81
82
97
98
99
.. .
Netherlands
United Kingdom
Other
Western Europe, excluding EC (10)
Africa
Members of OPEC
International organizations and unallocated
140
955
na
Memoranda:
100
101
102
Industrial countries7 7
Members of OPEC
Other countries 7
See footnotes on page 63.
456
1683
3,050
3233
11015
2,277
10379
8940
7464
51
SURVEY OF CURRENT BUSINESS
June 1984
Trade—Continued
of dollars]
Not seasonally adjusted
1982
I
II
Seasonally adjusted
1984
1983
III
IV
I
II
III
IV
I"
II
I
1984
1983
1982
III
IV
I
II
III
IV
I"
Line
62,666
61,437
63,542
60,022
58,538
64,158
66,978
71,638
79,393
62,546
60,921
64,442
59,758
58,523
63,615
67,938
71,236
79,805
35
12,760
10,068
552
1,414
2,940
1,382
553
2,817
431
2,692
13,681
10,862
574
1,458
3,237
1,392
622
3,107
448
2,819
13,159
10,581
590
1,325
2,843
1,334
687
3,427
392
2,578
13,308
10,838
670
1,336
2,882
1,182
614
3,695
425
2,470
12,587
10,070
578
1,574
2,932
1,296
604
2,668
429
2,517
13,767
11,046
667
1,501
3,158
1,330
758
3,160
482
2,721
13,758
11,369
599
1,484
3,042
1,475
781
3,534
418
2,389
13,784
11,254
558
1,452
3,510
1,343
817
3,030
532
2,530
17,673
14,232
829
1,985
4,383
1,877
1,065
3,493
600
3,442
12,806
10,107
556
1,424
2,963
1,390
553
2,806
435
2,700
13,521
10,729
566
1,434
3,186
1,372
615
3,090
441
2,792
13,346
10,732
598
1,347
2,889
1,354
697
3,467
398
2,611
13,237
10,781
667
1,327
2,864
1,173
611
3,683
422
2,456
12,636
10,107
580
1,586
2,957
1,305
602
2,654
433
2,529
13,615
10,924
659
1,477
3,111
1,310
753
3,148
475
2,691
13,950
11,528
608
1,505
3,087
1,496
792
3,580
425
2,422
13,695
11,181
555
1,442
3,488
1,334
812
3,011
528
2,515
17,820
14,347
837
2,014
4,446
1,896
1,061
3,487
607
3,473
36
37
38
39
40
41
42
43
44
45
12,029
9,993
1,135
12,667
9,647
1,192
11,755
9,586
1,367
12,075
8,459
1,339
12,513
9,294
1,134
13,998
9,822
1,328
12,807
10,172
1,287
15,041
12,019
1,568
16,692
12,999
1,259
12,044
10,065
1,143
12,497
9,487
1,172
11,956
9,734
1,388
12,030
8,399
1,330
12,530
9,372
1,143
13,840
9,672
1,307
13,019
10,321
1,305
14,970
11,942
1,562
16,831
13,186
1,280
46
47
48
308
412
359
480
266
284
300
217
292
305
418
356
479
49
9,119
1,023
3,651
1,233
3,213
9,270
990
3,834
1,062
3,384
10,039
1,439
4,149
1,040
3,409
10,133
1,356
3,922
1,427
3,428
9,357
1,103
3,758
1,153
3,342
10,787
1,152
4,414
1,264
3,958
10,681
1,297
4,227
1,259
3,897
11,043
1,402
4,373
1,262
4,006
12,312
1,675
4,560
1,485
4,592
50
51
52
53
54
265
287
297
218
292
9,207
1,020
3,682
1,264
3,241
9,262
1,002
3,831
1,042
3,386
9,926
1,423
4,105
1,030
3,369
10,164
1,363
3,938
1,425
3,438
9,461
1,098
3,804
1,185
3,374
10,771
1,165
4,405
1,243
3,959
10,538
1,279
4,171
1,243
3,846
11,097
1,411
4,394
1,266
4,025
12,402
1,657
4,592
1,530
4,622
17,277
12,210
4,636
556
1,189
1,304
493
1,969
14,678
11,493
3,275
488
1,272
1,429
556
2,217
17,452
13,468
4,108
697
1,644
1,608
614
2,578
14,459
10,723
2,765
543
1,426
1,326
530
2,128
13,257
10,656
2,112
534
1,439
1,448
546
2,390
14,164
11,247
1,934
538
1,418
1,709
720
2,573
18,004
13,962
3,118
610
1,723
2,114
735
3,024
17,770
14,679
3,709
566
1,794
1,921
863
3,217
17,888
14,828
2,516
739
1,920
2,162
968
3,380
17,106
12,142
4,528
556
1,197
1,313
496
1,982
14,670
11,435
3,337
483
1,250
1,405
547
2,180
17,679
13,648
4,150
706
1,669
1,632
624
2,617
14,415
10,669
2,769
539
1,415
1,316
526
2,112
13,194
10,649
2,055
535
1,450
1,459
550
2,409
14,091
11,114
1,963
534
1,396
1,682
711
2,533
18,242
14,155
3,158
619
1,747
2,144
746
3,067
17,668
14,594
3,697
562
1,781
1,908
857
3,195
17,897
14,913
2,448
745
1,948
2,193
978
3,429
55
56
57
58
59
60
61
62
5,080
3,666
3,179
1,894
3,946
2,813
3,736
2,467
2,545
1,440
2,909
1,886
3,996
2,806
2,948
1,813
3,043
1,706
4,976
3,579
3,229
1,938
3,993
2,847
3,743
2,476
2,486
1,398
2,938
1,911
4,041
2,834
2,932
1,801
2,966
1,650
63
64
23
65
23
66
67
68
35,916
9,852
16,897
37,187
6,478
17,749
35,866
8,250
19,426
35,180
6,937
17,904
35,526
4,995
18,017
38,914
5,432
19,812
38,022
7,621
21,335
42,412
7,137
22,089
48,622
6,217
24,554
36,057
9,623
16,868
36,678
6,605
17,618
36,424
8,339
19,679
34,994
6,950
17,817
35,679
4,861
17,983
38,432
5,508
19,676
38,596
7,710
21,632
42,169
7,107
21,960
49,117
6,039
24,650
-7,379
-4,749
-13,441
-10,900
-9,213
-13,821
-18,666
-19,355
-25,308
-7,064
-5,803
-12,363
-11,239
-9,277
-14,870
-17,501
-19,407
-25,641
69
2,985
2,224
797
421
-389
-191
1,427
-62
193
762
2,108
1,548
801
422
-809
-32
1,506
-367
172
560
523
142
621
382
-839
-344
897
-830
207
381
1,177
642
548
436
-652
-82
1,149
-1,093
151
535
2,361
1,479
666
233
-860
-161
1,620
3
143
882
-93
-174
549
9
-1,050
-307
1,076
-504
59
81
-1,410
-1,463
551
-236
-1,050
-681
970
-1,127
135
53
123
-249
805
-45
-1,324
-393
1,009
-380
17
372
-2,773
-2,280
490
-415
-2,046
-715
1,006
-561
-38
-494
2,981
2,239
801
430
-398
-197
1,408
-21
190
741
1,854
1,340
770
384
-823
-44
1,484
-445
161
514
891
415
663
414
-809
-321
983
-787
224
479
1,066
562
533
435
-657
-85
1,104
-1,099
148
503
2,295
1,439
664
235
-885
-171
1,587
39
137
856
-375
-406
516
-21
-1,071
-316
1,040
-594
47
31
-1,035
-1,187
594
-212
-1,007
-666
1,060
-1,085
155
152
96
-253
797
-39
-1,322
-389
989
-368
17
348
-2,914
-2,366
484
-433
-2,104
-737
987
-525
-41
-548
70
71
72
73
74
75
76
77
78
79
-2,166
-4,794
887
-1,866
-4,579
1,053
-2,402
-4,470
501
-2,889
-3,148
182
-2,631
-4,566
297
-2,329
-4,614
516
-2,280
-4,575
366
-3,306
-5,875
88
-3,725
-7,408
690
-2,062
-4,880
910
-2,030
-4,530
992
-2,342
-4,385
535
-2,890
-3,196
185
-2,563
-4,696
304
-2,555
-4,606
468
-2,186
-4,429
404
-3,242
-5,899
88
-3,719
-7,629
683
80
81
82
1,353
743
86
501
514
310
-16
739
488
1,293
772
119
500
486
326
19
718
451
83
-480
-167
-65
-19
-229
116
-77
-256
310
141
-1,741
-430
-1,300
323
-335
-3,302
-688
-2,199
-183
-232
-3,263
-527
-1,719
-332
-684
-4,616
-492
-2,096
-724
-1,306
-3,771
-608
-1,752
-654
-757
-4,636
-776
-2,126
-527
-1,206
-5,522
-1,148
-1,775
-688
-1,909
-325
-170
7
19
-182
-181
-93
-371
247
36
-1,553
-411
-1,256
361
-245
-3,350
-688
-2,200
-198
-264
-3,185
-534
-1,689
-302
-658
-4,830
-499
-2,174
-761
-1,397
-3,612
-598
-1,700
-639
-674
-4,660
-772
-2,129
-536
-1,223
-5,422
-1,166
-1,744
-645
-1,868
84
85
86
87
88
-5,196
-2,207
-1,572
349
-583
-136
245
-919
-2,301
-998
-62
321
-646
-42
229
-1,165
-5,970
-3,647
-1,148
-10
-1,000
-237
263
-1,659
-3,421
-1,225
-2
-24
-852
34
276
-1,143
-1,925
-1,051
548
135
-868
-71
387
-1,568
-3,029
-1,556
652
-173
-735
-285
466
-1,529
-6,979
-4,667
-601
-212
-1,102
-716
-21
-1,857
-6,520
-4,916
-1,329
175
-1,106
-449
6
-1,990
-7,058
-5,394
-276
-169
-1,264
-773
-143
-2,271
-5,016
-2,114
-1,431
323
-588
-155
251
-931
-2,658
-1,257
-248
320
-643
-49
209
-1,152
-5,660
-3,391
-1,078
28
-1,000
-191
277
-1,651
-3,558
-1,314
-27
-36
-849
15
275
-1,150
-1,918
-1,068
617
126
-877
-99
397
-1,598
-3,333
-1,757
508
-174
-736
-294
432
-1,520
-6,658
-4,411
-525
-204
-1,101
-668
-6
-1,837
-6,541
-4,922
-1,330
176
-1,097
-462
15
-1,988
-7,090
-5,479
-198
-178
-1,290
-815
-143
-2,327
89
90
91
92
93
94
95
96
-3,162
-2,867
-1,312
-1,190
-2,521
-2,367
-2,013
-1,769
-906
-973
-1,456
-1,462
-2,555
-2,417
-1,661
-1,380
-1,702
-1,349
-3,071
-2,782
-1,409
-1,249
-2,483
-2,376
-2,044
-1,786
-876
-935
-1,525
-1,497
-2,504
-2,423
-1,672
-1,377
-1,642
-1,297
97
98
32
-23
33
32
-23
33
-3,088
-4,542
219
-3,285
-1,002
-439
-5,848
-3,268
-4,358
-3,052
-4,273
225
-3,716
-1,318
-748
-5,302
-3,164
-3,930
33
-4,678
-2,054
-4,167
-4,539
-899
-3,775
-6,518
-1,751
-5,585
32
-7,899
-3,949
-6,817
-8,970
-3,437
-6,980
-13,217
-2,581
-9,510
33
-4,833
-2,110
-4,298
-4,659
-760
-3,858
-7,066
-1,974
-5,864
99
32
-7,247
-3,861
-6,391
-8,957
-3,443
-7,040
-13,580
-2,399
-9,663
100
101
102
52
SURVEY OF CURRENT BUSINESS
June 1984
Table 3.—U.S. Merchandise
[Millions
1983
1973
1974
1975
1976
1977
1978
1979
1980
1981
1982
1 Total (A-9)
71,410
98,306
107,088
114,745
120,816
142,054
184,473
224,269
237,085
211,198
200,257
2
3
17,977
53433
22,410
75896
22,243
84846
23,380
91,365
24,332
96,484
29,902
112,152
35,595
148,879
42,156
182,113
44,035
193,050
37,230
173,968
36638
163..619
Foods feeds and beverages
Foods, feeds and beverages—agricultural
Grains
Soybeans
Other agricultural foods, feeds, and beverages
Nonagricultural foods feeds and beverages
15199
14,895
9,732
2,762
2,400
304
18638
18,360
11,619
3,545
3,196
278
19234
18,907
12,648
2,882
3,377
327
19,829
19,408
12,223
3,322
3,864
421
19,724
19,113
10,244
4,411
4,458
611
25,155
24,132
13,480
5,201
5,451
1,023
30,005
28,794
16,711
5,739
6,343
1,212
35,721
34,593
20,858
5,888
7,848
1,128
38,163
36,893
22,126
6,229
8,538
1,270
31,620
30,454
17,169
6,251
7,034
1,166
31,134
30,090
17..838
5,,932
6,320
1,,044
10
11
12
13
14
15
16
17
Industrial supplies and materials
Agricultural
...
Nonagricultural
Energy products
Fuels and lubricants
Petroleum and products
Other nonagricultural
Nonmonetary gold
19790
2,899
16890
1,955
1947
605
14936
50
29,942
3,787
26,155
3,596
3586
850
22559
89
29,789
3,120
26,669
4,760
4742
989
21910
459
31,993
3,688
28,305
4,673
4,653
1,078
23,632
354
34,312
4,642
29,670
4,780
4,763
1,335
24,890
1,093
39,044
5,334
33,710
4,507
4,502
1,585
29,204
1,163
58,139
6,311
51,828
6,679
6,676
1,970
45,148
5,293
71,947
7,032
64,915
8,984
8,945
2,997
55,931
4,176
69,950
6,630
63,319
11,036
11,016
4,059
52,283
4,398
63,620
6,357
57,263
13,294
13,289
6,465
43,969
1,999
58,023
6,169
51,854
9,860
9,,857
4,997
41,994
1,704
18
19
20
21
22
Capital goods except automotive
Machinery, except consumer-type..
Civilian aircraft complete-all types
Parts and engines for civilian aircraft
Other transportation equipment
21,999
17,455
2315
1,748
481
30,878
24,624
3,395
2,234
625
36,639
29,880
3189
2,732
838
39,113
32,034
3,214
2,971
893
39,766
33,487
2,750
2,940
589
46,471
38,332
3,657
3,664
818
58,843
47,206
6,297
4,354
986
74,210
58,316
8,600
5,820
1,474
81,614
65,580
8,809
4,986
2,239
73,675
61,606
4,883
4,939
2,248
68,279
55,618
5,797
5,105
1,758
23
24
25
Automotive vehicles,
parts and engines
To Canada 8
To all other areas
6,952
5,304
1,648
8,815
6,340
2,474
10,794
7,187
3,606
12,229
8,494
3,735
13,535
9,694
3,841
15,742
10,437
5,304
18,402
11,877
6,526
17,540
10,287
7,252
19,791
11,566
8,224
17,393
10,741
6,651
18,327
13,578
4,748
26
27
Consumer goods (nonfood), except automotive
,
All other, including balance of payments adjustments not included
in lines C 4-26.
4,800
2,672
6,399
3,633
6,560
4,071
8,022
3,557
8,931
4,546
10,466
5,176
12,845
6,240
16,633
8,218
16,386
11,184
14,723
10,167
13,934
10,561
Line
C Merchandise trade, by principal end use category,
adjusted to
balance of payments basis, excluding military. 2
EXPORTS
4
5
6
7
8
9
Agricultural products
Nonagricultural products
,
IMPORTS
70,499
103,811
98,185
124,228
151,907
176,020
212,028
249,781
265,086
247,667
261,312
....
8,415
62,085
26608
77,204
27018
71,167
34,572
89,656
44,982
106,925
42,312
133,708
60,482
151,546
79,263
170,518
77,794
187,292
61,270
186,397
53,804
207,508
31
Foods, feeds, and beverages
9,119
10568
9642
11,546
13,981
15,397
17,366
18,127
18,113
17,108
18,186
32
33
34
35
36
Industrial supplies and materials
Energy products
Fuels and lubricants
Nonenergy products
Nonmonetary gold
27603
9,076
8967
18,527
514
54029
27,665
27487
26,363
966
50637
28,556
28453
22082
330
63,717
37,138
36974
26,580
939
79,933
48,006
47654
31,927
1935
83,613
46,070
45,648
37,543
1765
108,976
65,095
64,472
43,881
2,912
133,290
85,065
84,400
48,226
5,565
135,222
83,960
83,020
51,262
4,014
111,311
67,960
67,050
43,352
3,403
107,392
59,939
58,940
47,453
2,,4H
37
38
39
40
Capital goods except automotive
Machinery, except consumer-type
Civilian aircraft, engines and parts
Other transportation equipment
8263
7,257
618
388
9819
9,097
636
86
10166
9,521
548
97
12282
11,815
406
61
13985
13,264
592
129
19,705
18,448
982
275
25,029
23,037
1,518
474
31,161
26,989
2,984
1,188
36,679
32,605
3,749
325
38,338
34,517
3,438
383
41,013
37.,738
2,956
319
41
42
43
44
45
Automotive vehicles parts and engines
From Canada
Passenger cars, new and used
From all other areas
Passenger cars, new and used
10708
5,331
2,109
5,376
3,749
12425
5,670
2,626
6,755
4,681
12085
5838
2,803
6,247
4,332
16782
8,025
3,478
8,758
5,470
19359
9,238
3,795
10,121
6,856
24993
10,420
4,129
14,572
9,545
26,433
9,670
3,707
16,763
11,135
27,903
8,710
3,802
19,193
13,017
30,895
10,706
4,295
20,189
13,474
34,083
13,071
5,805
21,013
14,475
42,,028
16,937
7,,278
25..091
16..291
46
47
Consumer goods (nonfood) except automotive
All other, including balance of payments adjustments not included
in lines C 31-46.
12892
1,916
14380
2,589
13211
2,443
17 165
2,735
21796
2,853
28943
3,368
30566
3,657
34,445
4,854
38,664
5,515
39,660
7,167
45,313
7,380
28 Total (A-18)
29
30
Petroleum and products
Nonpetroleum products
See footnotes on page 63.
53
SURVEY OF CURRENT BUSINESS
June 1984
Trade—Continued
of dollars]
Not seasonally adjusted
1982
I
II
Seasonally adjusted
1984
1983
III
IV
I
II
III
IV
IP
I
II
III
IV
1984
IP
1983
1982
III
IV
I
II
Line
55,287
56,688
50,101
49,122
49,325
50,337
48,312
52,283
54,085
55,482
55,118
52,079
48,519
49,246
48,745
50,437
51,829
54,164
1
10,639
44,648
10,159
46,529
7,494
42,607
8,938
40,184
9,456
39,869
8,572
41,765
8,282
40,031
10,329
41,954
10,856
43,229
10,017
45,465
10,423
44,695
8,408
43,671
8,382
40,137
8,823
40,423
8,706
40,039
9,306
41,131
9,804
42,026
10,277
43,887
2
3
8,743
8,568
5,027
1,763
1,778
175
8,716
8,505
4,943
1,649
1,913
211
6,761
6,234
3,549
1,149
1,536
527
7,400
7,147
3,650
1,690
1,806
253
8,012
7,847
4,766
1,654
1,428
166
7,235
7,030
4,078
1,297
1,655
204
7,311
6,841
4,011
1,232
1,598
470
8,576
8,372
4,983
1,750
1,640
204
8,795
8,635
4,860
1,903
1,872
160
8,511
8,226
4,840
1,512
1,873
285
8,973
8,693
5,096
1,718
1,879
279
7,121
6,802
3,476
1,659
1,667
319
7,016
6,733
3,757
1,362
1,614
283
7,712
7,441
4,529
1,407
1,505
272
7,407
7,135
4,184
1,331
1,620
272
7,780
7,508
4,000
1,780
1,728
272
8,234
8,006
5,125
1,414
1,467
228
8,624
8,364
4,652
1,651
2,060
260
4
5
6
7
8
9
16,938
1,964
14,974
3,534
3,532
1,751
11,440
430
16,792
1,553
15,238
3,549
3,547
1,625
11,689
359
14,970
1,148
13,822
3,158
3,158
1,563
10,664
581
14,921
1,692
13,229
3,053
3,052
1,525
10,176
629
14,260
1,504
12,756
2,587
2,586
1,583
10,170
667
14,812
1,443
13,370
2,674
2,673
1,298
10,696
404
14,278
1,358
12,921
2,324
2,323
1,059
10,597
331
14,673
1,865
12,808
2,276
2,275
1,058
10,532
302
14,996
2,105
12,890
1,952
1,943
986
10,938
363
17,148
1,684
15,464
3,897
3,895
1,626
11,566
430
16,174
1,629
14,545
3,296
3,294
1,598
11,249
359
15,358
1,493
13,865
3,153
3,153
1,686
10,712
581
14,940
1,551
13,389
2,948
2,947
1,555
10,441
629
14,296
1,277
13,020
2,756
2,755
1,447
10,264
667
14,300
1,473
12,827
2,537
2,536
1,291
10,290
404
14,688
1,713
12,975
2,346
2,346
1,164
10,629
331
14,738
1,706
13,032
2,221
2,220
1,095
10,811
302
14,958
1,798
13,160
2,098
2,089
900
11,061
363
10
11
12
13
14
15
16
17
19,121
15,660
1,701
1,184
576
19,710
16,334
1,321
1,341
715
17,956
15,265
906
1,213
573
16,887
14,346
955
1,201
385
17,142
13,431
1,870
1,306
534
17,419
13,867
1,830
1,319
403
16,377
13,918
860
1,177
422
17,341
14,402
1,238
1,302
399
17,583
14,880
852
1,466
384
19,336
15,897
1,661
1,202
577
19,153
15,943
1,198
1,304
708
18,459
15,506
1,145
1,234
574
16,727
14,260
878
1,198
390
17,324
13,623
1,844
1,323
535
16,916
13,566
1,666
1,288
395
16,857
14,112
1,125
1,197
423
17,182
14,317
1,162
1,298
405
17,819
15,122
829
1,482
385
18
19
20
21
22
4,438
2,567
1,871
5,156
3,322
1,834
4,079
2,639
1,440
3,720
2,213
1,507
4,209
3,038
1,171
4,976
3,814
1,162
4,121
2,934
1,188
5,020
3,793
1,227
5,640
4,359
1,281
4,389
2,521
1,868
4,711
2,876
1,835
4,587
3,110
1,477
3,706
2,234
1,472
4,159
2,991
1,167
4,399
3,237
1,162
4,712
3,494
1,218
5,057
3,857
1,200
5,615
4,334
1,281
23
24
25
3,728
2,318
3,995
2,320
3,499
2,836
3,500
2,694
3,437
2,265
3,556
2,338
3,458
2,766
3,482
3,192
3,446
3,625
3,741
2,357
3,836
2,272
3,600
2,954
3,546
2,585
3,450
2,304
3,410
2,312
3,550
2,851
3,524
3,093
3,466
3,682
26
27
62,666
61,437
63,542
60,022
58,538
64,158
66,978
71,638
79,393
62,546
60,921
64,442
59,758
58,523
63,615
67,938
71,236
79,805
28
16,254
46,412
13,068
48,369
16,649
46,893
15,299
44,723
11,141
47,397
12,592
51,566
15,736
51,242
14,334
57,304
14,349
65,044
15,828
46,718
13,334
47,587
16,798
47,644
15,310
44,448
10,770
47,753
12,827
50,788
15,922
52,016
14,284
56,952
13,852
65,953
29
30
3,782
4,381
4,381
4,563
4,422
4,640
4,353
4,771
5,168
3,789
4,274
4,638
4,406
4,462
4,524
4,604
4,596
5,236
31
29,503
18,117
17,858
11,386
757
25,640
14,450
14,266
11,190
649
28,780
18,128
17,928
10,652
983
27,387
17,264
16,997
10,123
1,013
23,877
13,228
13,000
10,649
585
26,235
14,039
13,813
12,196
725
29,095
16,880
16,620
12,215
585
28,185
15,792
15,507
12,394
516
30,910
16,030
15,758
14,881
700
28,877
17,425
17,202
11,452
757
25,708
14,791
14,613
10,917
649
29,231
18,468
18,245
10,762
983
27,496
17,276
16,990
10,220
1,013
23,200
12,546
12,358
10,654
585
26,320
14,392
14,165
11,927
725
29,565
17,242
16,953
12,323
585
28,307
15,759
15,464
.12,548
516
30,256
15,293
15,049
14,963
700
32
33
34
35
36
9,826
8,805
941
80
10,298
9,208
900
190
9,559
8,789
729
41
8,655
7,715
868
71
9,089
8,148
913
28
9,926
9,154
652
120
10,388
9,676
669
42
11,610
10,759
722
129
13,976
12,842
1,082
52
10,037
9,016
941
80
10,133
9,042
900
190
9,589
8,820
729
41
8,579
7,639
868
71
9,340
8,399
913
28
9,748
8,976
652
120
10,451
9,739
669
42
11,474
10,623
722
129
14,382
13,248
1,082
52
37
38
39
40
8,298
2,919
1,344
5,379
3,710
9,585
4,023
1,776
5,561
3,865
8,329
3,171
1,348
5,158
3,432
7,872
2,958
1,336
4,914
3,469
9,508
3,726
1,738
5,781
3,971
10,874
4,662
2,154
6,212
4,096
9,310
3,481
1,248
5,829
3,650
12,337
5,068
2,137
7,269
4,574
13,593
5,663
2,481
7,930
5,034
8,011
2,880
1,297
5,131
3,474
9,000
3,697
1,516
5,303
3,621
9,242
3,672
1,718
5,570
3,825
7,830
2,822
1,273
5,008
3,555
9,270
3,748
1,725
5,522
3,726
10,207
4,270
1,845
5,937
3,836
10,303
4,039
1,627
6,264
4,067
12,248
4,880
2,081
7,368
4,662
13,331
5,707
2,455
7,624
4,747
41
42
43
44
45
9,598
1,659
9,353
2,180
10,866
1,626
9,842
1,703
10,113
1,530
10,635
1,849
11,922
1,911
12,644
2,090
13,865
1,881
10,122
1,710
9,704
2,103
10,115
1,626
9,719
1,729
10,672
1,578
11,050
1,768
11,107
1,907
12,483
2,127
14,664
1,936
46
47
54
SURVEY OF CURRENT BUSINESS
June 1984
Table 3.—U.S. Merchandise
[Millions
L983
1973
1974
1975
1976
1977
1978
1979
1980
1981
1982
1 Merchandise exports, Census basis, including military grant shipments.
71,453
98,641
108,112
115,419
121,293
143,766
182,024
220,782
233,739
212,275
200,538
2
3
4
17861
53,592
53,076
22260
76,382
75,782
22095
86,016
85,555
23274
92,145
91,955
24219
97,074
97,012
29,796
113,970
113,884
35,212
146,812
146,647
41,759
179,023
178,867
43,814
189,926
189,864
37,012
175,263
175,182
36,456
164,081
164,029
15,089
18,489
19,086
19,712
19,591
25,032
29,617
35,313
37,888
31,352
30,940
14,799
9,727
4,198
2,760
2312
18,222
11,568
4,631
3,537
3,116
18,764
12,582
5,350
2,865
3,317
19,307
12,199
4,082
3,315
3793
19,006
10,242
2,929
4,393
4,371
24,034
13,469
4,600
5,208
5,357
28,436
16,690
5,583
5,701
6,045
34,226
20,794
6,658
5,880
7,552
36,673
22,060
8,154
6,186
8,427
30,235
17,087
6,921
6,218
6,930
29,908
17,776
6,557
5,914
6,218
Line
D Merchandise trade, by end-use category, Census basis,1 including
military grant shipments:
Agricultural products
Nonagricultural products
Excluding military grant shipments
5
Foods, feeds, and beverages
6
7
8
9
10
Agricultural
Grains and preparations
Wheat
Soybeans
Other agricultural goods feeds and beverages
11
,
Nonagricultural (fish distilled beverages etc )
12
Industrial supplies and materials
13
14
15
16
Agricultural
Raw cotton, including linters
Tobacco, unmanufactured
Other agricultural industrial supplies (hides, tallow, etc.)
17
18
19
20
Nonagricultural
Fuels and lubricants 9
Coal and related fuels
Petroleum and products
,
290
268
322
405
585
999
1,181
1,087
1,215
1,117
1,032
19630
29802
29,651
31864
34169
38,800
57,046
70,211
67,300
61,483
56,461
2879
940
681
1,258
3775
1,353
832
1,590
3116
1,001
852
1,263
3683
1,058
922
1,704
4636
1,538
1,094
2,004
5327
1,754
1,358
2,215
6,286
2,213
1,183
2,891
7,000
2,880
1,334
2,786
6,630
2,277
1,458
2,895
6,357
1,980
1,547
2,830
6,169
1,833
1,462
2,874
16751
1,961
1,057
610
26028
3,627
2,493
874
26536
4,753
3,351
993
28181
4684
2,997
1084
29534
4,763
2,741
1335
33474
4,502
2,132
1,585
50,759
6,676
3,507
1,970
63,211
8,775
4,780
2,847
60,670
10,725
6,019
3,769
55,126
13,008
6,080
6,217
50,292
9,857
4,123
4,997
21
22
23
24
Paper and paper base stocks
Textile supplies and materials
Chemicals, excluding medicinals
Other nonmetals (minerals, wood, rubber, tires, etc.)
1463
1359
4,503
3,367
2597
1,878
7,445
4,141
2500
1,604
7,392
4,208
2720
1904
8,094
4,965
2682
1,870
8,642
5,184
2628
2,197
10,367
6,071
3,364
3,262
14,498
8,300
4,973
3,746
17,756
9,337
4,968
3,764
17,962
9,042
4,341
2,800
16,960
8,206
4,256
2,335
16,404
8,153
25
26
27
28
Steel making materials
Iron and steel products
Other metals, primary and advanced, including advanced steelPrecious metals (gold, silver, platinum)
645
1394
2,058
156
924
2480
2,935
288
846
2076
3,157
682
725
2005
3,084
450
482
1875
4,034
1 169
845
2029
4,833
1356
1347
2,487
10,825
5,621
1,496
3,493
13,634
5,989
900
3,390
9,920
3,760
779
2,459
6,573
1,516
834
1,828
6,625
2,060
21663
30398
36269
38678
39312
45948
57,510
72,600
80,173
72,678
67,248
17169
3,472
651
1781
1040
13,696
2,940
1,271
5163
663
2352
1717
1,308
24208
4,944
926
2452
1,565
19,265
4485
1,784
7 172
994
3061
2198
1,769
29567
5,308
1,144
2345
1820
24,258
6650
1,923
9288
1430
2960
2228
2,007
31657
6,590
1,497
3071
2022
25,068
6236
1,907
9748
1617
3274
2588
2,285
33074
7,238
1,637
3316
2285
25,836
5633
1,997
9940
1587
4050
3264
2,630
37875
8,110
1,422
3708
2,981
29,764
6,421
2,425
10,462
1755
5,241
4199
3,460
45999
9,740
1,508
4,637
3,595
36,259
7,815
3,081
12,577
1643
6,773
5460
4,370
57,050
11,817
1,816
5,677
4,324
45,234
9,958
3,837
15,306
1,926
9,076
7,540
5,131
64,524
12,920
2,124
5,740
5,056
51,605
11,614
4,187
17,243
2,232
10,562
8,837
5,767
60,781
12,939
2,049
5,967
4,923
47,842
10,306
3,704
15,666
1,795
11,008
9,324
5,364
54,809
13,178
1,657
6,625
4,896
41,631
6,451
3,104
13,150
1,468
12,538
11,029
4,921
4068
2315
426
5599
3366
590
5901
3169
801
6175
3204
846
5679
2739
559
7280
3616
793
10,531
6177
980
14,076
8256
1,474
13,467
8613
2,182
9,683
4,825
2,214
10,695
5,691
1,744
6416
8352
10240
11 372
12286
14621
16698
16168
18,362
15,914
17,044
4768
1647
5878
2474
6633
3606
7637
3735
8445
3841
9316
5304
10173
6526
8,916
7252
10,137
8224
9,263
6,651
12,295
4,748
1824
888
3,703
2334
1394
4624
2884
2199
5156
3266
2068
6037
3627
2041
6618
3692
2770
8160
4720
3330
8,648
4010
3052
9,107
4005
3310
11,047
2,930
2468
10,517
4,251
1,980
10,813
4714
2,055
2324
335
6284
2891
3069
323
6476
2,840
3375
'262
7916
3573
4010
334
8817
3763
4688
366
10308
4603
5201
504
12485
5,400
6382
702
16249
7,890
7,627
732
15868
6,976
8336
556
14307
5,950
7,971
386
13444
5,304
7,672
467
29
Capital goods, except automotive
30
31
32
33
34
35
36
37
38
39
40
41
42
Machinery, except consumer-type
Electrical and electronic, including parts and attachments
Generators, transformers and accessories
Broadcasting and communications equipment
Telephonic and other electrical apparatus
Nonelectrical, including parts and attachments
Construction machinery and nonfarm tractors.. .
Textile and other specialized industry machinery
Other industrial machinery, n.e.c
Agricultural machinery and farm tractors
Business and office machines, computers, etc
Electronic computers and parts
Scientific, professional, and service industry equipment
43
44
45
Civilian aircraft, engines, parts
Civilian aircraft, complete all types
Other transportation equipment
46
47
48
49
50
51
Automotive vehicles, parts and engines
To Canada8
To all other areas
Passenger cars, new and used
Trucks, buses, and special vehicles
Bodies, engines, parts and accessories, n.e.c
52
53
54
55
Consumer goods (nonfood), except automotive
Consumer durables, manufactured
Consumer nondurables, manufactured
Unmanufactured consumer goods (gem stones)
56
Special category (military-type goods)
1583
2134
2996
2600
3208
4489
3017
3264
4178
6540
5841
57
Exports, n.e.c., and reexports
2,358
3,182
3,394
3276
3909
4567
5,651
6,977
9,971
10,001
9,561
1,265
1093
1819
1363
1904
1490
1602
1 674
1702
2207
2030
2537
2426
3225
2,863
4115
5193
4778
4,898
5103
4,992
4568
58
59
Domestic (low-value, miscellaneous)
Foreign (reexports)
See footnotes on page 63.
SURVEY OF CURRENT BUSINESS
June 1984
55
Trade—Continued
of dollars]
Seasonally adjusted
Not seasonally adjusted
1982
I
•
II
1983
III
IV
I
II
1984
III
IV
I"
I
II
1984
1983
1982
III
IV
I
II
III
IV
IP
Line
55,314
57,028
50,240
49,694
50,076
50,504
48,380
51,578
53,787
55,500
55,472
52,207
49,096
49,991
48,923
50,499
51,125
53,855
10,557
44,756
44,738
10,107
46,920
46,904
7,432
42,809
42,783
8,915
40,778
40,757
9,419
40,657
40,641
8,540
41,964
41,951
8,259
40,121
40,118
10,238
41,340
41,320
10,839
42,948
42,942
9,935
45,565
45,547
10,371
45,101
45,085
8,346
43,861
43,835
8,360
40,736
40,715
8,786
41,204
41,189
8,674
40,249
40,236
9,284
41,215
41,212
9,712
41,412
41,393
10,260
43,595
43,588
2
3
4
8,648
8,653
6,688
7,364
7,973
7,200
7,286
8,480
8,775
8,416
8,909
7,047
6,980
7,673
7,373
7,755
8,139
8,604
5
8,485
4,976
2,088
1,762
1,747
8,453
4,928
1,968
1,645
1,880
6,173
3,538
1,612
1,117
1,518
7,124
3,646
1,253
1,694
1,785
7,810
4,756
1,962
1,643
1,412
6,998
4,068
1,525
1,306
1,624
6,819
4,026
1,478
1,223
1,569
8,281
4,926
1,592
1,741
1,614
8,618
4,873
1,573
1,897
1,848
8,143
4,789
2,031
1,512
1,842
8,641
5,081
2,152
1,714
1,846
6,740
3,465
1,419
1,626
1,649
6,710
3,752
1,319
1,365
1,592
7,404
4,519
1,884
1,396
1,489
7,104
4,175
1,668
1,340
1,589
7,486
4,015
1,312
1,772
1,699
7,915
5,068
1,693
1,406
1,441
8,347
4,666
1,509
1,645
2,036
6
7
8
9
10
240
164
201
467
200
157
273
268
307
270
270
269
269
224
257
11
14,655
16,542
15,637
14,358
13,872
13,823
14,350
14,416
14,617
12
1,473
478
330
666
1,713
519
397
797
1,706
539
410
758
1,798
613
395
790
13
14
15
16
162
200
515
16,333
16,254
14,557
1,964
^57
355
852
1,553
521
352
680
1,148
350
228
570
1,692
352
612
728
1,504
431
302
770
1,443
520
297
626
1,358
400
276
682
1,865
482
587
796
2,105
832
369
904
1,684
575
380
729
1,629
503
400
726
1,493
485
334
674
1,551
418
433
700
1,277
298
325
654
14,369
3,505
1,503
1,742
14,701
3,427
1,809
1,521
13,409
3,063
1,443
1,468
12,647
3,014
1,326
1,486
12,332
2,586
849
1,583
12,893
2,673
1,073
1,298
12,582
2,323
1,144
1,059
12,485
2,275
1,057
1,058
12,549
1,943
791
986
14,859
3,868
1,992
1,616
14,008
3,174
1,583
1,494
13,452
3,058
1,315
1,591
12,807
2,909
1,190
1,516
12,596
2,755
1,153
1,447
12,350
2,536
943
1,291
12,637
2,346
1,062
1,164
12,709
2,220
965
1,095
12,819
2,089
1,023
900
17
18
19
20
1,115
769
4,373
2,103
1,180
765
4,504
2,208
1,067
619
4,243
1,984
'978
647
3,840
1,910
993
591
3,964
1,902
1,104
609
4,019
2,098
1,062
557
4,230
2,093
1,097
577
4,191
2,060
1,096
609
4,467
2,123
1,159
782
4,378
2,116
1,096
746
4,392
2,084
1,073
632
4,192
2,029
1,012
640
3,998
1,976
1,028
604
3,959
1,917
1,026
592
3,914
1,980
1,065
568
4,178
2,133
1,136
571
4,354
2,123
1,136
622
4,466
2,148
21
22
23
24
147
719
1,638
269
270
672
1,676
310
190
576
1,667
493
172
493
1,591
445
132
459
1,705
637
237
470
1,683
523
228
444
1,646
477
237
456
1,592
423
205
454
1,654
451
161
744
1,651
269
237
646
1,632
310
196
585
1,688
493
185
484
1,602
445
142
475
1,715
637
205
453
1,644
523
232
451
1,665
477
255
449
1,601
423
222
471
1,665
451
25
26
27
28
14,339
13,836
14,336
13,939
14,350
14,946
18,764
19,440
17,770
16,704
16,981
17,084
16,110
17,073
17,315
18,979
18,883
18,272
16,544
17,163
16,581
16,590
16,914
17,551
29
15,364
3,092
507
1,360
1,225
12,272
2,729
934
4,158
521
2,588
2,150
1,342
16,111
3,455
557
1,614
1,284
12,656
2,782
963
4,036
541
2,860
2,415
1,474
15,104
3,329
529
1,562
1,237
11,775
2,642
876
3,862
399
2,690
2,282
1,306
14,202
3,062
455
1,431
1,176
11,140
2,153
931
3,611
335
2,870
2,476
1,242
13,313
3,061
402
1,496
1,163
10,253
1,672
798
3,324
303
2,878
2,542
1,278
13,612
3,251
449
1,618
1,184
10,362
1,601
787
3,260
417
3,083
2,723
1,214
13,718
3,379
400
1,728
1,250
10,339
1,656
721
3,255
403
3,104
2,736
1,200
14,165
3,487
405
1,784
1,298
10,678
1,523
798
3,311
345
3,472
3,028
1,229
14,645
3,682
429
1,864
1,389
10,963
1,562
846
3,363
363
3,556
3,147
1,272
15,600
3,189
532
1,406
1,251
12,411
2,846
964
4,162
519
2,581
2,145
1,340
15,720
3,335
521
1,584
1,230
12,385
2,692
942
3,978
472
2,860
2,418
1,441
15,345
3,369
550
1,558
1,262
11,976
2,608
915
3,936
430
2,749
2,325
1,339
14,116
3,046
446
1,419
1,180
11,070
2,160
883
3,590
375
2,818
2,436
1,244
13,505
3,160
424
1,550
1,186
10,345
1,739
825
3,335
299
2,873
2,536
1,274
13,312
3,147
419
1,590
1,138
10,165
1,550
772
3,217
358
3,079
2,722
1,189
13,912
3,399
414
1,717
1,268
10,513
1,628
752
3,307
427
3,172
2,789
1,228
14,081
3,472
400
1,768
1,304
10,608
1,535
755
3,291
384
3,413
2,983
1,230
14,886
3,804
453
1,934
1,416
11,083
1,648
875
3,379
362
3,551
3,139
1,268
30
31
32
33
34
35
36
37
38
39
40
41
42
2,837
1,678
563
2,625
1,309
705
2,099
900
567
2,123
938
380
3,138
1,849
529
3,077
1,791
394
1,970
824
422
2,509
1,228
399
2,293
852
377
2,815
1,638
564
2,465
1,187
698
2,359
1,139
568
2,043
861
385
3,129
1,823
530
2,883
1,628
386
2,'255
1,089
423
2,428
1,152
405
2,287
828
378
43
44
45
4,139
4,697
3,638
3,440
4,006
4,594
3,779
4,664
5,278
4,090
4,253
4,146
3,426
3,956
4,017
4,370
4,701
5,253
46
2,268
1,871
2,864
1,834
2,198
1,440
1,933
1,507
2,835
1,171
3,432
1,162
2,592
1,188
3,437
1,227
3,997
1,281
2,222
1,868
2,418
1,835
2,669
1,477
1,954
1,472
2,788
1,167
2,855
1,162
3,152
1,218
3,501
1,200
3,972
1,281
47
48
653
695
2,791
991
715
2,991
630
493
2,515
656
565
2,219
961
438
2,608
1,259
522
2,814
878
512
2,390
1,154
509
3,001
1,309
589
3,380
661
702
2,727
817
665
2,771
836
511
2,799
616
590
2,220
971
437
2,547
998
451
2,567
1,153
537
2,680
1,128
554
3,019
1,342
600
3,311
49
50
51
3,598
1,499
1,999
100
3,878
1,674
2,099
105
3,423
1,397
1,941
86
3,408
1,380
1,932
95
3,358
1,335
1,903
120
3,407
1,379
1,906
122
3,324
1,310
1,906
108
3,354
1,280
1,957
117
3,334
1,305
1,913
116
3,610
1,532
1,984
94
3,719
1,566
2,052
100
3,524
1,450
1,978
96
3,453
1,401
1,956
96
3,371
1,366
1,892
113
3,261
1,286
1,859
116
3,416
1,356
1,939
120
3,396
1,296
1,983
118
3,355
1,338
1,906
111
52
53
54
55
1,382
1,585
1,579
1,993
1,607
1,508
1,645
1,082
1,102
1,382
1,585
1,579
1,993
1,607
1,508
1,645
1,082
1,102
56
2,450
2,520
2,586
2,445
2,315
2,375
2,296
2,575
3,327
2,481
2,486
2,693
2,342
2,349
2,361
2,374
2,477
3,372
57
1,226
1,224
1,274
1,246
1,150
1,436
1,248
1,197
1,170
1,145
1,287
1,088
1,215
1,081
1,320
1,254
1,906
1,420
1,259
1,222
1,241
1,244
1,159
1,534
1,239
1,103
1,197
1,152
1,257
1,104
1,226
1,149
1,313
1,164
1,944
1,429
58
59
56
SURVEY OF CURRENT BUSINESS
June 1984
Table 3.—U.S. Merchandise
[Millions
Line
60 Merchandise imports, Census basis 10
61
62
63
64
65
66
67
68
69
Foods, feeds, and beverages
Coffee, cocoa, and sugar
Green coffee
Cane sugar
Other foods, feeds, and beverages
Meat products and poultry
Fish and shellfish
Vegetables, fruits, nuts and preparations
Whiskey and other alcoholic beverages
70
Industrial supplies and materials 10
71
72
73
74
75
76
77
78
79
80
81
82
83
84
85
86
87
88
89
90
91
92
93
94
95
96
97
98
99
100
101
102
Fuels and lubricants 9il° 10
Petroleum and products
Paper and paper base stocks
Materials associated with nondurable goods and farm output,
n.e.s.
Textile supplies and materials
Tobacco, unmanufactured
Chemicals, excluding medicinal
Other (hides, copra, materials for making photos, drugs, dyes) ...
Building materials, except metals
Materials associated with durable goods output, n.e.s
Steelmaking materials
Iron and steel products
Other metals, primary and advanced, including advanced steelPrecious metals (gold, silver, platinum)
Nonmetals (oils, gums, resins, minerals, rubber, tires, etc.)
Capital goods except automotive
Machinery, except consumer-type
Electrical and electronic, and parts and attachments
Nonelectrical, and parts and attachments
Construction, textile and other specialized industry machinery and nonfarm tractors.
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
Civilian aircraft, engines, parts
Civilian aircraft, complete, all types
Automotive vehicles, parts, and engines
From Canada
From all other areas
Passenger cars, new and used
Trucks, buses, and special vehicles
1983
1973
1974
1975
1976
1977
1978
1979
1980
1981
1982
70,473
102,576
98,509
123,478
150,390
174,757
209,458
244,871
261,305
243,941
258,048
9,112
2707
1570
925
6405
1,696
1384
954
1000
10,568
4069
1505
2247
6499
1,381
1491
986
1029
9,642
3747
1,561
1865
5,895
1,174
1344
972
1033
11,546
4144
2,632
1 154
7,402
1,480
1842
1,162
1 174
13,981
5468
3,910
1076
8,513
1,316
2041
1,490
1287
15,397
5118
3,728
723
10,279
1,908
2198
1,681
1744
17,366
5349
3,820
974
12,017
2,590
2,625
1,874
2014
18,127
6,255
3,872
1988
11,872
2,404
2,599
1,946
2,233
18,113
5,230
2,622
2142
12,882
2,051
2,950
2,625
2,399
17,118
3,917
2,730
863
13,201
2,125
3,132
2,448
2,513
18,186
3,986
2,1590
1,047
14,199
2,084
3,586
2,560
2,626
27,137
53,049
50,645
62,925
78,333
82,380
106,348
129,211
131,423
108,202
105,765
8,830
8294
2,090
4,161
27,342
26463
2,969
5,670
28,480
27044
2,716
4,953
36,986
34598
3,340
6,093
47,598
44961
3,604
6,741
45,573
42197
8,164
63,930
59,888
4,801
9,253
83,788
78,795
5,269
10,175
82,058
77,107
5,603
11,863
66,365
60,835
5,271
11,361
58,728
53,591
5,580
12,368
1,594
191
1,346
1,029
2472
9,584
970
3,196
4,050
964
1,368
1,597
254
2,498
1,320
1993
15,075
1356
5,559
6,124
1,525
2,035
1,178
343
2,229
1,203
1,556
12,940
1744
4,606
4,826
1,128
1,764
1,574
392
2,579
1,548
2396
14,110
1872
4,380
5,787
1,001
2,071
1,584
322
3,068
1,767
3312
17,078
1852
6,001
6,729
1,327
2,495
1,951
399
3,765
2,049
4388
20,258
1848
7,125
8,522
1,815
2,763
1,851
439
4,531
2,432
4,840
23,525
2202
7,304
10,650
3,375
3,370
2,040
455
5,187
2,492
3,734
26,245
2161
6,720
13,795
5,716
3,569
2,555
633
5,966
2,709
3,716
28,182
2,588
9,131
12,514
4,134
3,948
2,269
740
5,711
2,641
3,176
22,029
1,369
7,269
10,073
3,486
3,317
2,603
637
6,728
2,901
4,586
24,002
1,248
6,752
12,337
4,951
3,666
7902
9734
10143
12279
13954
19643
25038
30463
36624
38153
40 854?
7,268
2353
4,915
1,086
9,055
3096
5,959
1,178
9,505
2899
6,605
1,261
11,812
4430
7,382
1,321
13,280
4365
8,916
1,670
18,455
5861
12,594
2,865
23,046
7764
15,282
3,056
27,015
7945
19,070
3,696
32,632
9,452
23,180
5,555
34,529
10,548
23,982
5,845
37,700
12,915
24,785
3,694
1552
667
878
732
634
595
81
2075
850
977
879
679
636
0
97
2423
998
1,014
909
638
548
81
2582
1056
1,287
1,136
466
406
94
3112
1 174
1,497
1,464
674
592
265
4274
1367
2,143
1,946
1,188
982
231
5599
1,982
2,401
2,243
1,992
1518
517
6545
1,823
4,451
2,555
3,448
2984
964
7748
1,689
5,204
2,984
3,992
3,749
1,339
7424
1,278
6,165
3,270
3,624
3,432
1,132
11337
12358
12065
16768
19388
25095
26488
27,978
30,815
34,304
42,033
5961
5376
5603
6755
5818
6247
8011
8758
9267
10121
10522
14572
9725
16,763
8786
19,193
10,627
20,189
13,292
21,013
16,937
25,096
6526
1282
7307
1 452
7 135
1302
8947
2062
10651
2634
13674
3709
14,842
3759
16,819
4067
17,768
4844
20,280
5212
23,574
5916
q QQC
6,825 •
1,426
8,906
3,934
3,154
2,942
928
103
Bodies, engines, parts and accessories n e s
3529
3598
3628
5760
6103
7712
7888
7092
8203
8,812
12,543
104
Consumer goods (nonfood), except automotive
12890
14 380
13 211
17165
21796
28943
30566
34445
38664
39658
44,934
7 110
2304
4786
2132
994
8256
2164
5166
2288
958
6805
1645
5479
2490
927
8405
2211
7488
3533
1272
11760
3929
8285
3986
1751
15326
4485
11251
5356
2367
16233
4019
11,996
5665
2337
18461
4,321
13,066
6,508
2,918
20766
5,706
14,928
7,774
2,969
20,868
5,575
16,164
8,409
2,626
22,690
6,769
19,115
9,860
3,130
2,095
2,436
2,802
2,795
2,938
3,298
3,651
4,647
5,667
6,505
6,275
105
106
107
108
109
110
Consumer durables, manufactured
Electric household appliances, radio, television
Consumer nondurables, manufactured
Textile products, except rugs
Unmanufactured consumer goods (gems, nursery stock)
Imports, n.e.s. (low value, U.S: goods returned, military aircraft,
movies, exhibits).
See footnotes on page 63.
57
SURVEY OF CURRENT BUSINESS
June 1984
Trade—Continued
of dollars]
Not seasonally adjusted
1982
I
II
Seasonally adjusted
1983
III
IV
I
II
III
IV
I"
I
II
1984
1983
1982
1984
I
III
IV
63,685
58,658
58,078
4,665
4,413
4,462
Line
III
IV
I"
62,961
67,309
69,700
79,786
60
4,524
4,604
4,596
5,236
61
1,003
626
277
3,521
565
854
636
640
1,012
687
270
3,592
551
923
639
640
991
654
274
3,604
435
949
681
680
1,219
700
423
4,017
485
960
755
703
62
63
64
65
66
67
68
69
II
61,694
60,497
62,808
58,942
58,053
63,504
66,379
70,112
79,346
61,610
59,988
3,759
4,380
4,408
4,571
4,422
4,640
4,353
4,771
5,168
3,766
4,273
946
626
210
2,813
408
586
679
494
876
636
165
3,504
575
815
735
629
1,016
716
230
3,392
644
855
520
653
1,078
751
259
3,493
498
876
514
737
1,021
666
191
3,401
533
783
697
579
956
586
266
3,684
565
864
786
630
936
636
257
3,417
551
954
514
626
1,074
702
333
3,697
435
985
562
790
1,234
744
364
3,934
485
876
863
612
908
581
245
2,858
408
650
578
570
908
675
168
3,365
575
806
601
638
1,089
774
235
3,576
644
831
645
669
1,011
700
215
3,402
498
845
623
635
980
624
225
3,482
533
860
604
667
28,760
24,933
27,993
26,516
23,501
25,842
28,734
27,687
30,596
28,170
25,006
28,421
26,605
22,864
25,926
29,175
27,799
29,969
70
17,779
16,284
1,348
2,942
14,067
12,897
1,374
3,028
17,766
16,471
1,266
2,860
16,754
15,183
1,283
2,531
12,969
11,110
1,227
3,198
13,736
12,515
1,399
3,256
16,559
15,674
1,382
3,082
15,464
14,291
1,572
3,332
15,660
14,251
1,656
4,106
17,122
15,858
1,336
2,827
14,414
13,163
1,329
2,929
18,083
16,620
1,342
2,961
16,746
15,194
1,264
2,644
12,327
10,739
1,222
3,070
14,088
12,750
1,353
3,166
16,892
15,860
1,462
3,162
15,421
14,241
1,543
3,470
14,951
13,754
1,659
3,976
71
72
73
74
555
174
1,479
652
936
5,165
333
1,669
2,366
808
797
493
95
1,311
631
818
5,131
259
1,484
2,600
1,160
787
577
240
1,671
710
957
5,150
189
1,406
2,690
1,169
866
651
176
1,692
737
1,163
6,289
313
1,545
3,525
1,523
906
676
109
1,607
689
1,307
6,404
345
1,771
3,405
1,523
882
907
187
2,029
983
1,205
7,968
366
2,435
3,950
1,431
1,217
609
182
1,368
668
629
6,255
501
2,212
2,688
887
854
586
194
1,498
651
784
5,551
341
2,026
2,310
630
874
556
206
1,517
681
890
5,146
290
1,636
2,421
808
800
518
156
1,328
642
874
5,077
238
1,396
2,654
1,160
790
568
186
1,643
672
1,010
5,236
240
1,472
2,659
1,169
864
626
141
1,665
734
1,090
6,229
293
1,606
3,429
1,523
901
674
129
1,639
720
1,240
6,419
321
1,752
3,461
1,523
884
734
180
1,780
774
1,247
6,119
393
1,922
2,788
736
1,016
899
145
1,997
935
1,274
8,109
450
2,537
3,908
1,431
1,215
75
76
77
78
79
80
81
82
83
84
85
615
230
1,392
705
589
6,102
391
2,138
2,719
887
855
606
. 240
1,529
653
834
5,630
386
1,979
2,388
630
878
699
112
1,757
765
1,159
6,160"s
401
2,030
2,717
736
1,012
9,742
10,176
9,602
8,632
9,074
9,855
10,402
11,523
13,976
9,954
10,010
9,633
8,556
9,325
9,677
10,465
11,387
14,382
86
8,761
2,370
6,391
1,932
9,211
2,641
6,570
1,745
8,826
2,934
5,892
1,295
7,732
2,603
5,128
873
8,148
2,695
5,453
852
9,116
3,054
6,062
868
9,676
3,254
6,422
937
10,759
3,912
6,847
1,037
12,842
4,288
8,554
1,315
8,972
2,502
6,470
1,933
9,046
2,631
6,415
1,743
8,856
2,893
5,963
1,295
7,656
2,521
5,134
874
8,399
2,852
5,548
852
8,938
3,051
5,888
866
9,739
3,225
6,514
937
10,623
3,787
6,836
1,038
13,248
4,520
8,728
1,317
87
88
89
90
1,944
367
1,372
776
982
925
363
2,097
376
1,532
820
965
900
311
1,847
271
1,631
848
777
736
184
1,536
263
1,630
826
901
872
274
1,607
306
1,763
924
926
898
325
1,650
380
2,194
971
739
652
154
1,906
349
2,275
956
726
684
230
1,662
392
2,673
1,082
764
708
220
2,261
447
3,297
1,235
1,134
1,082
492
1,976
357
1,426
778
982
925
363
2,045
333
1,490
804
965
900
311
1,839
305
1,666
857
777
736
184
1,564
283
1,583
831
901
872
274
1,636
294
1,843
922
926
898
325
1,607
332
2,132
951
739
652
154
1,891
386
2,331
969
726
684
230
1,691
414
2,601
1,092
764
708
220
2,306
435
3,440
1,231
1,134
1,082
492
91
92
93
94
95
96
97
8,347
9,656
8,379
7,922
9,513
10,874
9,310
12,337
13,593
8,060
9,072
9,293
7,880
9,275
10,207
10,303
12,248
13,331
98
2,968
5,379
4,095
5,561
3,221
5,158
3,008
4,914
3,726
5,786
4,662
6,212
3,481
5,829
5,068
7,269
5,663
7,930
2,929
5,131
3,768
5,303
3,723
5,570
2,872
5,008
3,748
5,528
4,270
5,937
4,039
6,264
4,880
7,368
5,707
7,624
99
100
5,054
1,429
1,865
5,641
1,525
2,490
4,780
1,174
2,426
4,805
1,084
2,032
5,714
1,250
2,549
6,250
1,539
3,085
4,898
1,323
3,088
6,711
1,804
3,822
7,515
1,778
4,300
4,771
1,429
1,860
5,138
1,525
2,409
5,543
1,174
2,577
4,828
1,084
1,967
5,456
1,250
2,569
5,681
1,539
2,987
5,693
1,323
3,286
6,744
1,804
3,701
7,202
1,778
4,350
101
102
103
9,578
9,352
10,882
9,847
10,113
10,635
11,922
12,266
14,243
10,102
9,703
10,130
9,724
10,672
11,050
11,107
12,105
15,043
104
5,211
1,335
3,678
1,902
688
4,911
1,317
3,833
2,009
608
5,428
1,516
4,822
2,558
632
5,318
1,407
3,831
1,940
697
5,036
1,251
4,350
2,219
727
5,265
1,520
4,450
2,318
919
5,779
1,794
5,344
2,829
799
6,610
2,204
4,971
2,494
684
6,999
2,024
6,137
3,292
1,107
5,546
1,489
3,863
2,033
692
5,080
1,354
4,010
2,082
612
5,223
1,404
4,274
2,210
633
5,019
1,329
4,017
2,084
688
5,384
1,405
4,555
2,364
733
5,476
1,582
4,652
2,402
922
5,578
1,679
4,728
2,430
802
6,252
2,103
5,180
2,664
674
7,477
2,248
6,451
3,520
1,115
105
106
107
108
109
1,508
2,000
1,544
1,453
1,430
1,658
1,659
1,528
1,771
1,559
1,923
1,544
1,479
1,479
1,576
1,655
1,565
1,825
110
58
SURVEY OF CURRENT BUSINESS
June 1984
Table 4.—Selected U.S. Government Transactions
[Millions of dollars]
Line
Al U.S. Government grants (excluding military) and transactions increasing Government assets,
total.
1981
1982
1983
3,954
5,848
1984
198 3
198 2
II
III
IV
IP
3,429
3,668
4,194
4,752
4,359
I
I
II
III
IV
16,043
3,393
3,825
4,616
4,014
By category
2
3
4
Grants, net (table 1, line 30 with
sign reversed)
Financing military purchase 1
Other grants
4,452
317
4,134
5,423
755
4,668
6,060
934
5,126
1,481
419
1,062
1,101
26
1,075
1,088
22
1,066
1,753
288
1,465
974
71
903
1,210
113
1,097
1,478
375
1,103
2,398
375
2,024
1,429
350
1,079
5
6
7
8
9
9667
Loans and other long-term assets (table 1 line 40 with sign reversed)
Capital subscriptions and contributions to international financial institutions, excluding IMF . 1,142
8,006
Credits repayable in U.S. dollars
89
Credits repayable in other than U S dollars
430
Other long-term assets
.
0,063
1,007
7,443
1,151
462
9,931
1,369
7,999
142
422
1,849
213
1,512
6
118
2,524
285
2,079
44
116
3,453
257
1,997
1,072
127
2,238
252
1,855
30
102
2,378
415
1,824
15
124
2,422
225
2,066
28
102
2,756
349
2,239
68
100
2,376
380
1,870
31
95
2,688
325
2,231
39
93
-165
59
362
-68
52
-76
64
5
200
-15
76
-31
22
-27
77
24
37
-20
-40
-25
-22
-7
242
-19
68
70
122
29
49
118
3
56
111
6
13
46
5
14
29
4
11
19
15
11
25
3
15
18
(*)
14
26
(*)
8
20
(*)
20
48
(*)
15
20
17
13
21
3
4
4
2
7
2
8
5
18
4
1
3
18
(*)
50
9
1
60
15
2
3
56
-16
4
1
74
-3
68
1
10
11
12
•
Foreign currency holdings and short-term assets net (table 1 line 42, with sign reversed)
Foreign currency holdings (excluding administrative cash holdings) net
Receipts from —
Sales of agricultural commodities
Interest
Repayments of principal
13
14
15
16
Other sources
Less disbursements for —
Grants and credits in the recipient's currency
Other grants and credits
Other U S Government expenditures
17
18
19
20
21
22
A
t f°
'
Tt
1
t
t
.
12
'
Other short-term assets (including changes in administrative cash holdings), net
4
25
5
306
208
10
4
262
23
25
4
240
42
58
31
66
14
65
12
2
4
73
33
102
406
170
28
202
95
82
110
71
2
-13
263
1,142
1,668
6991
3,061
905
209
306
285
1,007
1,429
8,766
2,276
1594
180
262
858
1,369
1,419
9,469
2,541
726
189
240
571
213
234
1,962
663
159
62
58
159
285
444
2,053
616
123
47
66
323
257
533
1,979
477
1,180
34
65
221
252
218
2,771
521
133
37
73
155
415
286
1,837
547
131
41
50
223
225
376
2,173
543
208
41
60
162
349
557
2,132
867
205
35
56
105
380
200
3,328
584
181
72
74
80
325
261
2,547
724
243
53
68
275
9,998 10,374
5923 5172
1965 1,886
1,744 2,788
1448 2,216
10,397
5338
1,747
2,785
2119
2,305
1,207
493
538
263
2,823
1,451
526
629
612
2,626
1,331
518
602
586
2,620
1,184
350
1,020
755
2,199
1,102
431
474
431
2,457
1,247
390
689
617
3,002
1,597
494
758
478
2,739
1,392
432
864
593
3,465
1,658
550
885
712
275
108
19
(*)
17
109
196
3
16
130
136
6
265
79
99
-1
43
51
212
5
72
120
90
-1
280
31
196
(*)
271
71
59
(*)
174
137
310
2
9
9
9
9
9
9
By program
23
24
25
26
27
28
29
30
Capital subscriptions and contributions to international financial institutions, excluding IMF
Under farm product disposal programs.
Under Foreign Assistance Act and related programs
Under Export-Import Bank Act
Other assistance programs
Other foreign currency assets acquired (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
By disposition 3
31
32
33
34
35
36
37
38
39
40
42
Estimated transactions involving no direct dollar outflow from the United States
Expenditures on U S merchandise
Expenditures on U.S. services 4
Financing of military sales contracts by U.S. Government 5 (line C6)
By long-term credits
By short-term
credits *
By grants 1 .
U.S. Government grants and credits to repay prior U S Government credits x 4 6
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) 7 (line Cll).
Less receipts on short-term U S Government assets (a) financing military sales contracts 1
and (b) financing repayments of private credits.
Less foreign currencies used by U.S. Government other than for grants or credits (line A19)....
43
Estimated dollar payments to foreign countries and international financial institutions
41
296
534
370
1
573
425
449
8
666
272
557
4
232
93
65
18
4
8
306
262
240
58
66
65
73
50
60
56
74
68
, 3,956
5,474
5,645
1,088
1,002
1,990
1,393
1,230
1,211
1,192
2,012
894
4,395
3962
287
1279
1463
933
4,282
3,807
321
1,336
1,613
538
4,969
4,565
322
1,284
1,925
1034
1,011
899
66
306
397
130
1,027
887
63
362
399
64
949
837
49
300
424
64
1,295
1,185
144
369
393
279
1,224
1,127
35
300
447
344
1,210
1,107
65
358
407
277
1,487
1,385
59
302
712
312
1,049
947
164
323
360
101
840
740
34
284
407
15
433
475
404
112
140
—300
382
199
-89
428
96
701
8,910 11,970
456
10,169
116
3,755
265
2,577
111
1,952
210
3,686
770
619
1,230 -1,009
163
1,122
157
-511
129
-712
Bl Repayments on U.S. Government long-term assets, total (table 1, line 41)
2
Receipts of principal on U.S. Government credits
. . . . .
3
Under farm product disposal programs
4
Under Foreign Assistance Act and related programs
5
Under Export-Import Bank Act ...
...
6
Other assistance programs
7
Receipts on other long-term assets...
.
....
.
Cl U.S. Government liabilities other than securities, total, net increase ( + ) (table 1, line 53)
2
3
4
5
6
7
8
9
10
Associated with military sales contracts 2
U.S. Government cash receipts from foreign governments (including
principal repayments
on credits financing military sales contracts), net of refunds.1
Less U S Government receipts from principal repayments
Less U.S. Treasury securities issued in connection with prepayments for military purchases
in the United States.
Plus financing of military sales contracts by U S Government5 (line A34)
By long-term credits
.
.
.
588
160
24
30
112
-177
38
26
18
103
102
102
100
434
137
161
185
439
1,986
453
2,693
269
3,463
173
2,026
201
2,155
136
170
1,330 -1,034
158
-313
294
629
182
-291
136
104
111
221
98
-533
2788
2,216
2785
2,119
538
263
629
612
602
586
1,020
755
474
431
689
617
758
478
864
593
885
712
296
573
By grants *
Less transfers of goods and12 services (including transfers financed by grants for military 10,003 12,209
purchases, and by credits) (table 1, line 3).
666
12,737
275
2,892
17
3,295
16
3,027
265
2,995
43
3,798
72
3,084
280
3,028
271
2,827
174
2,600
3
6
-1
r
-1
(*)
(*)
160 -294
20 -184
141 — 110
11
11
(*)
-99
83
-16
132
-19
50 -114
31 -18
12
-25
13
11
Associated with U.S. Government grants7 and transactions increasing Government assets
(including changes in retained accounts) (line A40).
12
13
14
15
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 63.
.
1744
1448
1
8
4
(*)
204
-134
30
100
327
-232
96
261
-271
10
205
-76
129
-17
33
17
SURVEY OF CURRENT BUSINESS
June 1984
59
Table 5.—Direct Investment: Income, Capital, and Fees and Royalties
[Millions of dollars]
I
1984
1983
19 32
Line
I"
I
II
III
IV
5638
6180
542
6,451
6552
-101
813
4 166
5937
-1771
4,779
2667
2,112
613
5344
6512
-1,168
6,080
3210
2,870
736
5414
6739
-1,325
6,220
2,815
3,405
806
5,834
8,111
-2,278
6,919
6,216
703
1,086
8,028
7,686
341
8,948
2,990
5,959
-921
285
-2,543
-3,950
1,408
-703
2,961
2,093
868
-4,311
-690
n.a.
n.a.
-5,959
2,338
n.a.
n.a.
II
III
IV
U.S. direct investment abroad:
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
Income (table 1, line 11)
Income before capital gains/losses
Capital gains/ losses (gains +• losses -)1
Earnings (net of withholding taxes)
Distributed earnings
Reinvested earnings
Interest (net of withholding taxes)
32549
32123
426
32,365
(6)
(6)
184
22268
24415
2146
24,101
17726
6,375
1833
20757
27299
6542
23,998
14908
9090
3241
6056
6622
565
6,112
3427
2685
56
5683
6475
792
6,006
4330
1676
323
4891
5138
4756
4 194
-16,576
12383
-6,375
15324
2,848
12476
4881
4760
-9,858
5098
-9090
8969
984
216
-7,393
7 178
2685
1917
1360
2137
-3,262
1 125
1676
5172
1 100
1242
-2,392
1 149
2114
4457
510
3947
3280
599
-3,529
2930
101
3778
2998
779
296
—790
-2,469
1679
-2,112
2606
19
2588
587
-607
-1,590
983
-2,870
2890
-497
3387
3713
-820
-1,848
1,028
-3,405
511
-714
1225
247
5,532
3418
2114
641
Capital (table 1 line 44)
Equity capital
Increases in equity capital23
Decreases in equity capital ..
Reinvested earnings
Intercompany debt
U.S. parents' receivables
U.S. parents' payables
9624
Fees and royalties (table 1, line 7)
5,794
5,561
6,275
1,372
1,305
1,396
1,488
1,462
1,605
1,462
1,745
1,522
32,549
13330
8194
11025
32123
12,384
8180
11559
22268
10059
4987
7223
24415
9212
6686
8516
20,757
9172
5789
5797
27299
10402
9515
7382
6056
2884
1281
1891
6622
2381
1793
2447
5683
2385
1546
1752
6475
2075
2157
2243
4891
2658
5638
2131
1541
1965
6180
2447
1687
2046
4,166
2239
5,344
2097
1,853
1393
6512
2,354
2506
1652
5,414
2360
1,609
1444
6,739
2,455
2444
1,840
5,834
2475
1,710
1648
8,111
3,253
2653
2,205
8,028
3,188
2,988
1852
7,686
3,022
2,847
1,818
(6)
4194
-1 157
4760
-1798
216
241
142
315
2685
2137
1242
820
77
26
1 141
2155
1670
5265
8969
1234
1462
6272
1248
'253
1 184
1917
607
(*)
227
380
2870
482
-1,067
-2,543
-1,613
125
-805
703
803
-159
1347
2,961
295
1,076
1,590
-690
26
-184
532
5959
-2,189
-1,767
-2,003
2,338
2,041
-259
557
1,753
— 1700
-1,321 -1,791
38
-379
— 1 131 — 1,146
-648
-858
-499
273
-607
-569
697
128
— 725
118
-2,050
-2,037
-13
-1,462
772
-689
-589
-711
122
-2,226
2,202
-25
-1,664
-714
-950
562
-692
131
(6)
6
( )
(6)
(6)
(6)
(6)
(6)
901
8068
487
2404
173
5346
By industry of affiliate: 4
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
Income (line 1)
Petroleum
Manufacturing
Other
Income before capital gains/losses (line 2)
Petroleum
Manufacturing
.
Other
Capital:
Equity capital (line 9)
Petroleum
Manufacturing
Other
Reinvested earnings (line 12 or line 6 with sign reversed)
Petroleum
Manufacturing
Other
Intercompany debt (line 13)
Petroleum
Manufacturing
Other
(6)
(6)
(6)
(6)
(6)
(6)
(6)
(6)
(6)
(6)
(6)
557
2479
6375
669
4564
15324
—846
684
15486
215
2746
9090
481
11
1645
1676
'l67
447
618
1 614
5138
2308
1049
1780
519
230
494
2 114
1264
338
709
2964
89
210
5052
434
1284
4457
416
499
3542
955
1 112
1 188
1062
1093
1 061
5172
599
400
174
25
101
1538
617
1310
5937
2,340
1913
1684
790
-263
163
691
2112
1243
403
1035
3778
835
684
3929
276
1 145
2606
808
113
1686
999
606
-394
1231
-941
-290
1024
-770
1321
2890
593
468
1,829
-871
3405
1233
-719
1453
511
-462
194
1,168
Foreign direct investment in the United States:
37
38
39
40
41
42
43
44
45
Income (table 1, line 25)
Income before capital gains/losses
Capital gains/ losses (gains — ; losses +) 5
Earnings (net of withholding taxes)
Distributed earnings
Reinvested earnings
Interest (net of withholding taxes)
U.S. affiliates' payments
U.S. affiliates' receipts
46
47
48
49
50
51
52
53
54
55
56
7053
7 137
84
5845
2688
3157
1208
1855
648
4 129
4130
598
6734
6091
643
4405
3048
1 357
2329
2829
500
Capital (table 1, line 57)
Equity capital
Increases in equity capital23
Decreases in equity capital
Reinvested earnings
Intercompany debt
U.S. affiliates' payables
U.S. affiliates' receivables
23148
13 611
14716
1 105
3157
6380
6947
567
14865
8312
10618
2307
1290
7 844
7664
179
11299
5945
7097
1 151
1357
3996
4997
1 000
Fees and royalties (table 1 line 21)
U.S. affiliates' payments
U.S. affiliates' receipts
435
72
170
1598
1,162
1377
1449
1462
1292
7053
3168
1 367
2518
7 137
3 154
1260
2723
4129
2628
6734
1977
1 165
3592
6091
1 900
1274
2917
1
2023
3313
1290
2106
2703
1243
288
492
681
189
463
611
148
75
611
829
218
501
673
172
31
478
780
302
584
734
151
442
666
582
557
684
127
104
564
696
132
3264
2748
2869
122
302
818
1640
821
4812
2745
2,932
187
582
2649
2034
615
2,305
1846
1995
150
104
563
1 153
590
3,327
1611
2,116
504
273
1443
1,216
227
3,322
1 152
1,569
417
499
1671
1,782
111
2,345
1,337
1,417
-81
689
319
846
-527
1,862
604
707
-103
950
308
10
294
28
37
-355
318
-62
-384
322
63
-434
496
— 1,753
617
231
-905
1791
614
-319
858
-2,050
-673
572
-805
2037
622
-574
842
-2,226
-523
794
-909
-2,202
525
-770
906
1 152
45
339
769
499
350
122
272
1,671
152
718
802
1,337
19
405
912
689
444
230
15
319
44
327
52
604
32
196
440
950
168
486
297
308
296
-416
1020
1 714
'l89
2769
2475
295
3630
2241
2525
'284
218
1 607
1516
91
33
353
321
38
308
346
25
310
334
42
406
448
44
335
290
-389
955
676
164
115
1 112
1062
— 1231
— 1,700
1243
1 188
1 093
771
64
387
999
450
13
562
606
470
93
229
-107
528
357
275
689
2748
22
1223
1502
-302
388
391
299
818
67
95
846
2745
115
660
1969
-582
148
518
211
2,649
735
—22
1935
1846
1611
1328
-104
1084
-119
1,084
3159
578
2293
361
By industry of affiliate: 4
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
Income (line 37)
Petroleum
Manufacturing
Other
Income before capital gains/losses (line 38)
Petroleum
Manufacturing
Other . .
Capital:
Equity capital (line 47)....
Petroleum
Manufacturing
Other
Reinvested earnings (line 50, or line 42 with sign reversed)
Petroleum
Manufacturing
Other
Intercompany debt (line 51)
Petroleum .
Manufacturing
Other
See footnotes on page 63.
13611
559
4,456
8595
3,157
2344
95
718
6,380
196
2,362
3821
192
1308
4130
2608
72
1 450
8312
'406
2728
5178
-1,290
1 320
1370
1240
7,844
966
1750
5127
5945
321
1531
4093
1,357
920
170
607
3,996
81
2010
1906
673
172
398
578
245
530
197
-189
467
185
471
2,769
42
1213
1514
702
83
328
694
58
435
2241
23
314
1903
-218
317
276
259
1,607
122
653
832
800
42
304
320
80
830
941
307
16
502
24
211
131
563
233
914
367
281
1052
1321
242
285
273
150
67
190
1,443
118
241
SURVEY OF CURRENT BUSINESS
60
June 1984
Table 6.—Securities Transactions
[Millions of dollars]
II
I
Al Foreign securities, net U.S. purchases (-) (table 1, line 45 or lines 2 +
12 below).
2
Stocks, net U.S. purchases
3
4
5
6
7
8
9
10
11
12
14
15
16
17
IV
III
IV
I
II
III
-1,571
-983
I"
244
-5,714
-8,102
-7,676
-650
-502
-3,410
-3,541
-1,866
-3,257
— 165
_7
— 1,347
— 1,016
-1,855
847
-264
343
105
-55
ocq
-177
-699
-202
-387
-215
-109
-39
-25
-13
-753
-581
211
97
324
55
-1,156
-636
379
-11
553
44
-460
267
-184
-40
-210
57
-155
-385
-294
124
147
-41
368
66
-31
143
193
-34
266
1471
3,982
176
— 135
New issues in the United States
of which Canada
298
-103
302
-85
160
1458
-633
120
-11
— 110
70
-19
50
Transactions in outstanding stocks net
Western Europe
.
of which United Kingdom
Canada
Japan
Other
32
-193
37
686
252
-209
1169
-827
249
139
320
161
2524
-1,869
1068
170
940
115
296
23
59
171
147
-45
65
-53
13
-30
60
-42
158
-162
28
65
18
-43
1242
-635
293
-67
509
-31
5,448
6,631
—3,694
—826
—367
3,245
— 2,193
—850
— 1,401
-725
-718
99
8020
7195
830
3459
1494
-1387
-1824
-1,235
-681
-680
228
-983
-201
99
-200
-31
-500
843
-971
-695
-950
304
-112
-578
-500
259
-678
-50
-400
694
-450
-180
-500
492
-476
155
-112
172
-175
-134
-200
163
-492
-25
-517
-1,348
-49
-81
514
-950
-271
261
-138
-728
-415
-828
-65
509
-50
-250
-331
131
-500
121
-400
-81
-500
96
-452
-112
-181
-200
-25
-475
-100
-18
-62
500
40
190
270
600
225
250
100
25
575
100
250
125
100
575
150
175
125
125
-90
-718
848
117
196
315
-612
-831
966
-105
57
267
6
-841
-609
110
82
655
1,547
Bonds, net U.S. purchases
13
1984
19J33
19i32
New issues in the United States
By issuer:
5127
1,412
1 132
-3,515
-2,128
-1,245
1 474
1 617
-2,266 -1,779
-1505
-519
-1,950 -1,212
-816
-4,816
297
-472
374
-1,245
-788
-3,147
49
-428
833
-1,950
-668
-2,315
-1,323
-215
-96
835
-1,212
-89
-16
99
-500
1232
256
520
197
259
2030
230
981
79
740
2095
510
885
555
145
360
35
216
9
100
621
60
296
70
195
680
135
227
369
318
127
420
145
195
60
20
1,340
195
37
16
510
619
-1,466
1 183
-1364
249
579
545
-662
2648
-2,509
311
326
1349
226
117
130
55
69
15
-157
480
-588
36
95
382
-466
27
-88
265
251
77
-1,069
793
-818
75
302
101
117
— 562
—484
172
73
434
-77
537
-211
127
7,171
6,397
8,612
1,314
2,543
633
1,907
3,003
2,614
1,861
1,134
5,056
3566
6415
667
778
344
1,777
2,908
1,739
1,349
419
1,181
3655
22
288
2216
1046
118
237
2518
334
579
3096
223
3966
1 046
1 325
1791
1 151
274
1024
728
74
53
692
146
I
86
626
83
146
674
16
100
268
304
34
229
748
154
155
41
859
211
151
982
231
256
431
2479
'483
541
1,192
300
186
315
1 132
278
736
349
313
86
380
787
228
371
311
231
211
120
-432
57
090
61
307
335
209
309
362
186
131
708
39
125
2 115
2 830
2 197
646
1 765
289
130
95
875
512
715
365
11
12
13
By type:
New issues sold abroad by U.S. corporations 4 ...
U.S. federally-sponsored agency bonds, net
Other outstanding bonds, net
360
267
1488
600
206
2024
320
446
1432
232
414
100
270
1395
300
196
185
200
100
30
60
155
320
177
378
413
ibb
229
486
-34
399
14
15
16
17
18
19
20
21
By area:
Western Europe
of which Germany..
Switzerland
United Kingdom
Canada
Japan
Other countries
International financial institutions 2
1713
848
108
661
12
175
198
41
2678
2 Oil
158
189
24
29
127
28
1 161
287
632
419
123
682
222
9
462
416
42
37
73
106
8
3
1484
1 015
106
286
89
45
75
72
507
437
18
98
8
108
19
137
225
143
28
158
146
14
25
40
95
1
134
199
42
108
51
11
682
121
425
202
5
174
61
37
157
58
-27
170
40
170
18
127
417
109
100
246
46
230
92
70
163
46
-24
166
35
230
-16
23
11731
1289
1,634
1031
3,324
14500
694
685
334
2,780
806
487
810
985
4,648
4 514
301
85
265
1,103
2 586
258
198
208
253
4 gg2
192
203
116
485
2738
'459
199
255
939
2 553
'371
194
188
1,420
784
170
341
485
2,263
1 867
363
90
373
-68
664
417
185
61
1,033
1042
36
27
626
-171
3,664
10,253
5,752
2,555
3,270
2,778
1,650
1,660
1,480
1,204
1,408
1,992
Other governments and their agencies and corporations
Private corporations
International financial institutions 2
18
19
20
21
22
23
By area:
Western Europe
Canada
Japan
Latin America
Other countries
International financial institutions
24
25
26
27
28
Redemptions of U.S.-held foreign bonds 3
Western Europe
Canada
Other countries
International financial institutions 2
29
30
31
32
33
34
Other transactions in outstanding bonds, net 3
Western Europe
of which United Kingdom
Canada
Japan
Other
l
2
. . .
Bl U.S. securities, excluding Treasury securities and transactions of foreign official agencies, net foreign purchases ( + ), (table 1, line 59 or
lines 2 + 10 below).
2
3
4
5
6
7
8
9
10
Stocks, net foreign purchases
By area:
Western Europe
of which Germany
Switzerland
United Kingdom
Canada
Japan
Other
Corporate and other bonds, net foreign purchases
826
242
333
Memoranda:
Other foreign transactions in marketable, long-term U.S. securities
included elsewhere in international transactions accounts:
Foreign official assets in the United States (lines in table 9):
1
U.S. Treasury marketable bonds (line A4)
2
Other U.S. Government securities (line A6)
3
U.S. corporate and other bonds (part of line A14)
4
U.S. stocks (part of line A14)
5 Other foreign transactions in U.S. Treasury bonds and notes, net (table
9, line B4).
6 New issues of bonds sold abroad by U.S. corporations' finance
affiliates
in the Netherlands Antilles (included in table 5, line 8) 4.
See footnotes on page 63.
June 1984
SURVEY OF CURRENT BUSINESS
61
Table 7.—Claims on and Liabilities to Unaffiliated Foreigners Reported by U.S. Nonbanking Concerns
[Millions of dollars]
19 83
19 82
Line
Debits -; decrease in U.S. liabilities or increase in U.S.
assets.)
Al Claims, total (table 1, line 46)
2
Financial claims
. .
3
Denominated in US dollars
4
Denominated in foreign currencies
..
5
By type: Deposits
6
Other claims 2.
3
7
By area: Industrial countries r....:
8
of which United Kingdom
9
Canada . ...... .7....
10
Caribbean banking centers *
11
Other
12
Commercial claims
13
Denominated in US dollars....
14
Denominated in foreign currencies
15
By type* Trade receivables
16
' Advance payments and other claims ..
17
By area* Industrial countries5 3
18
Members of OPEC
19
Other
Bl Liabilities, total (table 1, line 60)
2
Financial liabilities
3
Denominated in U S dollars
4
Denominated in foreign currencies
5
By area* Industrial countries ^
6
of which United Kingdom
7
Caribbean banking centers *
8
Other
9
Commercial liabilities
10
Denominated in US dollars
11
Denominated in foreign currencies
12
By type: Trade payables
13
Advance receipts and other liabilities
14
By area* Industrial countries5 3
15
Members of OPEC
16
Other
. ..
1981
.. .
— 1,181
978
361
617
-522
456
-240
1461
-1,593
1 196
458
203
172
-31
5
-198
127
187
111
917
786
917
-131
488
365
103
196
131
21
110
-1,336
1467
1289
1292
134
1982
1983
6,626
3728
3088
'640
2,531
1197
2,304
-499
2,346
1303
'121
2898
2943
-45
2890
8
1579
'542
777
2383
-1,292
1075
-217
788
-397
-561
57
-1 091
1063
' 28
-2,429
1338
752
3019
1,176
—5,333
—5,266
4 774
-492
-4,821
—445
-3,212
-1,786
-1,472
-1,897
-157
67
-26
-41
290
-357
2
68
133
— 1,318
-117
79
-196
96
-227
-338
317
-1,201
1385
184
-1,191
-10
438
-1,184
421
I
II
3,879
2,587
2006
581
1,953
633
1,599
-103
1,558
712
276
1292
1,297
-5
1,304
-12
508
214
570
-65
590
932
-342
623
737
98
-131
-655
402
-253
-634
-21
-159
-1,153
657
-308
-639
816
177
-877
238
281
-345
640
-806
-114
331
375
44
457
-126
316
203
188
—2,023
-2,237
-2228
-9
1828
-1,114
-472
63
214
191
23
-8
222
594
-1,032
652
III
IV
808
458
618
-160
1,004
-545
2
71
50
594
-138
2,247
1,322
1,280
42
451
871
422
-122
98
803
97
925
933
8
783
142
501
104
320
-13
-356
-140
216
-81
-152
-223
-52
343
127
216
-397
740
177
205
-39
338
12
346
4
254
21
75
—282
711
361
350
498
132
36
177
-993
979
-14
1,390
397
140
-1,039
94
-3,199
3,187
-3,132
55
-3,072
-115
-1,836
-1,433
-326
-1,175
176
-12
23
-35
179
191
148
5
-165
-2,337
331
370
39
207
20
-50
174
-2,668
-2591
-77
-2,060
-608
740
-1,872
-56
IV
II
III
-230
-592
-689
97
-406
186
-936
626
-268
594
-250
362
385
-23
524
-162
251
90
21
-64
35
28
7
278
12
-251
8
-99
-16
83
399
-498
253
-442
90
-233
-19
827
-246
-11
-8
569
494
-77
-769
181
-214
226
12
-284
70
-82
14
-118
1,311
-86
-14
-72
-279
126
140
53
1,397
1,365
32
1,030
367
-463
1,828
32
I
-1,671
-1,468
-1,180
-288
-1,332
-136
-1,009
-221
-801
-547
88
203
-208
5
-129
-74
319
-13
129
-228
-397
305
-92
302
-109
-177
82
169
-143
312
-560
729
512
-698
355
1984
Amounts
I"
standing
Dec. 31,
1983
n.a.
n.a.
/i. a.
n. a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
33,493
22,299
19,740
2,559
17,318
4,981
12,440
5,768
5,759
8,080
1,779
11,194
10,593
601
9,655
1,539
5,971
1,345
3,878
25,163
10,382
8,504
1,878
7,466
2,834
1,841
1,075
14,781
13,573
1,208
6,496
8,285
8,235
3,851
2,695
See footnotes on page 63.
Table 8.—Claims on Foreigners Reported by U.S. Banks
[Millions of dollars]
1 Total (table 1, line 47)
Bytype:;
2
3
Payable in dollars
By borrower:
4
5
6
7
8>
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
other foreigners
Foreign-owned banks: claims on
own foreign offices
unaffiliated foreign banks
other foreigners
Payable in foreign currencies ...
Banks' domestic customers' claims
Payable in dollars
Deposits
^Negotiable and readily transferable instruments.
Outstanding collections and other
Payable in foreign currencies
By area:
Industrial countries 3
Western Europe
Canada
Japan
Other
29
30
31
32
33
1
2
3
4
5
unaffiliated foreign banks
foreign public borrowers *
other private foreigners. ..
By banks ownership: 2
U.S.-owned banks: claims on
own foreign offices
Other areas
of which5 Members of OPEC, included
below.
Latin America
Asia
Africa
.
Other6
Memoranda:
International banking facilities' (IBF's) own
claims, payable in dollars (lines 1-13 above).
By borrower:
Claims on own foreign offices .
unaffiliated foreign banks
all other foreigners
By bank ownership: 2
6
U S -owned IBF s
7
Foreign-owned IBF's
8 Banks' dollar acceptances payable by foreigners.
See footnotes on page 63.
1981
1982
1983
1984
1983
1982
(Credits +; decrease in U.S. assets. Debits-;
increase in U.S. assets.)
Line
I
II
III
IV
I
II
III
IV
I"
Amounts
outstanding
March
31, 1984
84175
111 070
25,391
-33,343
-39,403
-21,405
-16,919
-18,175
3,894
-2,871
-8,239
-334
430,302
-75,296
-74,437
-107,023
-104,296
-31,376
31,826
27 879
-27,559
39878
-39,283
-25,447,
-24,992
13819
-12,462
-20,257
-19,854
1,378
1,130
2445
-2,323
10,052
-10,779
1,210
2,946
393,757
384,765
31 291
-20,717
-9,885
-12,544
-30,640
-46,673
-14,162
-12,821
16724
-1,402
-11,832
-1,868
-5,133
-14,380
3045
-5,001
-14,040
-14,915
-5,832
-4,496
-11,074
-9,919
-2,687
-1,312
-393
-7,459
-2,598
-2,012
-16,683
-1,387
-2,167
383
3,742
1,341
-2,739
-1,214
2,624
-1,032
-4,050
135
-6,407
-324
-2,876
-1,172
-2,266
3,374
-481
2,319
146,282
119,405
57,736
61,342
-20,585
17 764
-11,839
-16,237
24700
-18,715
-6,588
3,512
-10,203
-2,994
6425
-5,597
-5,178
10 104
-6,895
-8,154
-4,424
-2,589
89
3747
-3,634
-7,705
2,792
-1,219
545
1,518
3,627
3,866
5
-1,327
-3,294
-803
-4,030
-4,504
5,184
2,391
84,043
64,865
64,319
-10,706
-2,953
10590
859
-8,879
-8,870
-326
-9,950
-14,403
-21,973
-8,268
-2,727
-4,047
-4,341
1 112
-4,411
-10,136
-4,914
3497
450
5,985
6,367
479
5,661
-2,139
7955
-2,449
-320
-5,464
-5,491
27
-6,325
-8,862
-4,811
-3,433
-595
475
453
178
164
-2,920
-5,495
-1,410
-455
4,042
3,627
159
3,265
-482
-3,712
-976
-1,357
-3,100
-2,930
1476
-1,515
-8,978
-4,179
-565
-403
2,082
2,043
364
1,503
3,197
-177
-326
248
2,516
2,563
-505
2,323
-1,242
-1,037
-2,588
-122
-426
-393
-23
-612
-3,113
479
-18
727
1,813
2,154
315
2,447
2,238
-1,810
-553
-1,736
-1,544
-2,241
-690
-888
62,239
54,540
54,759
8,992
36,545
36,184
3,659
25,992
1,406
-9
1,182
294
1,185
-382
807
27
111
22
203
415
61
-170
176
39
745
-47
242
-33
22
-341
-663
697
6,533
361
-33,464
-24,092
17 094
-4,352
4019
-1,001
21 475
-29,236
-2,302
-49,183
-43,053
26 076
-3,241
1591
-1,298
25462
-36,425
-5,698
-6,889
-656
3,516
-2,965
1936
-1,332
-4,804
-13,698
-3,103
-15,826
-13,295
9 210
-2,726
587
-392
6904
-10,613
-1,663
-14,075
-8,317
4318
-1,382
3,970
-406
9477
-15,851
-1,800
7218
-10,871
-7,716
2,334
1,654
335
-9,554
-4,633
-1,008
-12,064
-10,570
4832
-1,467
138
-165
473
-5,328
-1,227
6144
-1,914
-2,061
-3,349
-329
552
-8,762
-3,269
-949
4,917
4,935
4,679
-1,129
887
224
2,628
3,651
-921
-5,358
4,187
-3,037
226
-950
-447
6,767
-4,280
122
-304
510
3,935
1,287
1,544
-557
-5,437
-2,498
-1,355
-2,497
-1,539
1,760
-1,497
739
200
1,495
668
35
177,395
118,376
70,251
21,857
31,691
5,471
104,423
148,484
21,502
-22,763
-5,341
511
-621
-26,344
-9,499
867
285
-8,952
-4,202
570
26
-9,395
-1,374
250
406
-11,433
-3,667
-659
-92
-3,896
675
-26
-36
-1,620
-3,783
68
7
-1,988
936
37
-382
-1,548
-1,821
-124
-158
-3,250
-956
240
166
-2,166
489
-243
400
-730
1,420
89
111
103,632
37,393
4,414
3,045
-62,170
-78,461
-27,638
-27,284
-25,849
-15,840
-9,488
-10,960
-3,466
-8,911
-4,301
-5,422
173,691
-8,243
-21,816
16 164
-15,947
-17,820
-34,350
14071
-12,220
8841
-7,378
-8,732
2687
-3,172
-14,270
-4,589
-5,253
-6,593
-9,889
-4,876
4491
-5,496
-7,529
1838
-977
-2,559
-2,662
2768
-1,499
-5,094
-3,482
-1,540
-844
-964
-1,053
-1,065
-384
-1,877
-2,990
-3,651
-393
-906
147
-2,476
-1,066
-3,275
-512
-1,015
-620
38,179
64,056
39,981
31,475
-21,379
-40,791
-6,970
-33,855
-44,606
-8,202
13 936
-13,702
830
-12,718
-14,566
-850
11709
-14,140
-2,505
-6,518
-9,322
-2,222
-2,910
-6,578
-2,625
-3,784
-7,176
2,931
-2,774
692
322
2758
-6,153
282
-4,620
319
-2,705
-771
-4,651
301
69,940
103,751
37,023
62
SURVEY OF CURRENT BUSINESS
June 1984
Table 9.—Foreign Official Assets and Other Foreign Assets in the United States Reported by U.S. Banks
[Millions of dollars]
m2
(Credits +; increase in foreign assets. Debits — ; decrease in
foreign assets.)
Line
9
10
11
12
13
14
9
10
11
16
17
18
19
20
21
22
23
26
6
7
lp
standing
March
31, 1984
-2,703
6,555
-2,859
190,957
U.S. Treasury securities (table 1, line 51)
5,019
Bills and certificates
3848
Bonds and notes marketable
11 731
Bonds and notes nonmarketable
2864
Other U.S. Government securities (table 1, line 52)
1,289
Other U.S. Government liabilities (table 1, line 53)
-300
U.S. liabilities reported by U.S. banks, not included -3,670
elsewhere (table 1, line 54).
Banks' liabilities for own account, payable in dollars 1 ....
-768
Demand deposits
1 119
Time deposits l 2
537
Other liabilities
186
Banks' custody liabilites payable in dollars 1>3
2902
Other foreign official assets (table 1, line 55)
2,665
By area: (see text table B)
5,728
5731
14 500
3041
-694
382
-1,747
6,989
7683
806
1500
-487
199
433
-1,327
5341
4514
500
-301
-89
-1,684
-2,094
3539
2586
1 141
258
428
2,797
4,803
941
4662
800
-192
-177
-1,870
4,346
2208
2738
600
-459
221
-990
3,012
1,259
2553
800
-371
-533
-1,978
1,985
1,201
784
-611
1,256
1867
-170
434
316
-363
137
-1,403
2,603
3,967
664
-700
417
161
3,498
-269
661
1,042
-650
-36
185
-2,140
129,417
53,681
69,136
6,600
7,211
13,836
23,282
-469
664
1297
1 102
1278
-351
2,676
61
1,766
971
2243
-1,795
-1,561
531
708
1738
123
180
3,432
1095
461
i 876
635
10
-2,157
617
118
1658
287
-87
-183
611
10
418
807
-454
-165
282
-170
277
1813
-46
-120
700
626
362
-826
-281
-174
170
-277
1 122
-463
3,168
-49
1,066
2,151
330
-124
-2,301
208
-777
-1,732
161
-599
17,014
2,045
6,517
8,452
6,268
17,211
45,074
72,984
57,790
27,158
28,223
12,292
5,311
13,168
4,837
15,787
23,998
11,253
325,534
2,946
7062
8731
1,302
2,098
1408
2254
2,924
3,139
995
1,673
1,490
35,431
1,511
3324
-1,889
6046
2780
-1,764
5357
4648
-1,274
199
1 103
2,199
253
-354
1817
485
-894
1831
939
-516
1,883
1420
-379
1,366
2263
-490
1,468
68
-405
640
1033
1,661
-171
15,988
19,443
1046
517
1,383
4124
2956
-18
4368
4983
-620
533
1310
-541
708
423
967
1971
1626
-2,189
912
403
1,745
1312
701
911
1281
1252
606
1038
313
-356
737
2,717
-1,781
585
-15
920
10,763
18,271
6,397
42,128
39348
39,434
65922
65062
63741
49,059
49240
48879
25,856
27213
26706
26,125
24940
24457
10,884
9 114
9052
3057
3795
3526
10,244
10412
10168
1,698
2117
1325
14,792
14000
13,904
22,325
22711
23,482
9,763
9,259
8,296
290,103
273,793
267,625
28,799
21720
25,631
11,696
11,537
941
-2,454
6,292
-4,250
8,125
15,464
1,437
146,288
2,637
13319
47
3076
37697
7400
1766
20298
1 184
2962
14402
3570
38
11851
1031
1249
6608
2752
1097
4836
47
198
3004
674
928
4123
524
-676
5763
692
1,316
7,408
-706
-231
6,979
111
15,526
89,783
16,028
28799
4971
5,469
195
21720
23418
17335
1268
25631
9864
10660
2724
11696
11402
3693
85
11537
5086
7152
682
941
3225
3313
1573
2454
3*705
3,177
902
6292
175
3,526
525
4250
2215
2,515
845
8125
3,656
2,377
-254
15,464
4,168
2,242
1,608
1,437
4,463
2,981
-585
146,288
64,557
52,733
4,047
21842
1,386
17485
2431
15812
410
12406
68
5744
*919
3249
69
628
3914
1 513 -1,328
—2056
-462
4,931
-363
12,309
1,743
4,344
-1,167
78,196
15,667
4 487
11 288
5 868
2 698
4 324
2 686
1 580
575
2858
32
33784
3,155
2,425
2,907
5,630
68,092
48,890
22,996
By area:
Industrial countries 7
Western Europe
Canada ....
Other
Caribbean banking centers 8
Other areas .
of which Members of OPEC, included below 9
Latin America....
Asia
Africa 10
Other
Memoranda:
1 International banking facilities' (IBF's) own liabilities, payable in dollars (in lines A9 and Bll above).
2
3
4
5
IV
1,739
Banks' custody liabilities, payable in dollars lf 3
of which negotiable and readily transferable instruments.
29
30
31
32
33
34
35
36
37
38
39
III
II
-252
Payable in foreign currencies
27
28
I
2,664
Foreign-owned banks: liabilities to
own foreign offices
unaffiliated foreign banks
other private foreigners5 and internatonal
financial institutions
24
25
IV
2,477
By account:
Liabilities to own foreign offices
Liabilities to unaffiliated foreigners:
demand deposits
time deposits 1 2
other liabilities ..
By holder:
Liabilities to own foreign offices
unaffiliated foreign banks....
other private foreigners
international financial institutions 5
By bank ownership: 6
U.S.-owned banks: liabilities to
own foreign offices
unaffiliated foreign banks
other private foreigners and international
14
15
III
1,399
U.S. liabilities reported by
U.S. banks (line 61)
Banks' own liabilities 1 ...
Payable in dollars
12
13
II
-3,221
By security:
Bills and certificates ....
Marketable bonds and notes
Nonmarketable bonds and notes 4
By holder:
Foreign banks
Other private foreigners
International financial institutions 5
6
7
8
I
5,339
U.S. Treasury securities (line 58)
3
4
5
1983
Amounts
3,318
Bl Other foreign assets in the United States (table 1, lines 58
and 61).
2
1982
1984
5,003
Al Foreign official assets in the United States (table 1, line 49) ...
2
3
4
5
6
7
8
1981
198 3
By holder:
Liabilities to own foreign offices
unaffiliated foreign banks
foreign official agencies
other private foreigners
and international
financial institutions 5.
By bank ownership:
U.S.-owned IBF's
.. .
Foreign-owned IBF's
8 Negotiable certificates of deposit held for foreigners 1 (in
lines A13 and B27 above).
See footnotes on page 63.
OQO
781
1 654
6957
3,585
4235
20987
9819
10*274
710
11334
5793
4167
2308
3294
1460
2192
5664
1,153
—2194
2,677
3,194
4,019
1,177
7,315
7,516
910
3,510
2,200
695
3,270
1,706
1,548
992
2,364
86
1321
361
507
483
62
269
244
792
96
-771
963
6,168
2780
1,195
860
2,508
181
-868
1357
-2
1 185
1,175
1770
1,707
738
-372
168
-56
419
-527
792
-175
-386
-110
504
395
16,310
11,843
13,209
11039
23
2,193
24817
7048
90
4681
1009
45
1403
38595
33985
2 027
2583
18894
15495
4736
11533
2915
36
1083
26347
19227
4001
3119
20717
10726
473
5020
4096
84
1694
13663
10072
975
2616
10875
2 620
191
3 173
658
412
799
11739
10619
814
306
6949
9 535
4 147
5782
2066
138
1549
11080
10333
523
1270
403
1 615
562
1807
206
29
427
2113
2961
761
1609
1473
1 725
164
771
15
209
760
3843
876
2150
817
6484
2841
534
571
1 125
51
1 196
4433
2071
1822
540
2629
3033
24
1634
385
226
1240
7,507
6682
77
748
4439
3841
323
2632
1556
276
623
10,564
9,598
48
1,014
12,423
1011
660
183
1,030
83
119
9,318
5,493
1,418
2,407
912
1023
-66
1,368
-1,000
190
465
155,553
122,575
16,705
16,273
102,086
67895
12,945
36,429
17,635
1792
12,039
47,584
73,646
32,867
30,940
23,494
11,604
7,608
5,571
5,435
13,157
8,704
9,560
163,657
31494
10,842
3328
1,920
28569
27219
1900
15,958
14512
9727
1250
7,378
11412
14242
1286
4,000
10722
5406
958
6,408
4210
4496
359
3,257
2225
3075
15
2,293
4243
199
328
1,855
89
2196
558
2,592
7 163
4026
726
1,242
3017
3,704
294
1,689
4501
4,436
565
1,188
79075
52,224
5911
26,447
20,414
27 170
34223
39423
13 112
19755
13377
17563
11394
12100
6778
4826
2674
4934
2862
2709
359
5076
3948
9209
5943
2761
2,543
7017
70294
93363
-274
3,561
-3,899
454
1,720
625
762
-2,985
148
-1,124
62
-719
9,688
June 1984
SURVEY OF CURRENT BUSINESS
63
Footnotes to U.S. International Transactions Tables l-10a
General notes for all tables: pPreliminary. *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, unilaterial transfers to foreigners; capital outflows
(decrease in foreign assets (U.S. liabilities) or increase in U.S. assets); increase in U.S. official reserve assets.
2. Excludes transfers of goods and services under U.S. military grant programs (see line 14).
3. Excludes 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 basis; see table 3.
4. For all areas, amounts outstanding March 31, 1984, were as follows in millions of dollars:
line 34, 34,974; line 35, 11,111; line 36, 5,341; line 37, 11,706; line 38, 6,817.
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 investments in U.S. corporate stocks and in debt securities of private corporations
and State and local governments.
10. Conceptually, the sum of lines 67 and 62 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 subsequent similar legislation. Line 65 differs from "net exports of gdods 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 partial reconciliation table of the international accounts and the NIPA's foreign transactions
account appears in the "Reconciliation and other Special Tables" section in this issue of the
SURVEY OF CURRENT BUSINESS.
11. Includes return import into the United States, at a depreciated value of $21 million in
1972-IV and $22 million in 1973-11, of aircraft originally reported in 1970^111 in line 3 as a longterm lease to Australia.
12. Includes extraordinary U.S. Government transactions with India. See "Special U.S. Government Transactions," June 1974 SURVEY, p. 27.
13. Includes foreign currency denominated notes sold to private residents abroad. See table 9,
line B5, footnote 4.
Table 2:
For footnotes 1-10, see table 1.
11. See footnote 13 to table 1.
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 for
1974-81. For all prior years and beginning in 1982, imports reflect Customs values. (See Technical
Notes, June 1982 SURVEY.) The unadjusted figures for exports and imports shown in lines Al,
A10, Dl, and D60, are as published by the Census Bureau, as are the seasonally adjusted figures
on 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 D60 are prepared by BEA
and represent the summation of seasonally adjusted 4-digit end-use categories (see Technical
Notes in the June 1980 SURVEY).
2. Adjustments in lines A5 and A14, B12, B46, and B80 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. There adjustments also have been distributed to the
effected 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
A15), 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 17 (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 charge 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 pulished seasonally adjusted totals and
the summation of seasonally adjusted 4-digit end-use categories.
6. Addition of understatement of inland freight in f.a.s. values of U.S. merchandise imports
from Canada in 1974-1981; deduction of foreign charges for repair of U.S. vessels abroad, which
are included in tables 1, 2, and 10, line 20 (other transportation); deduction of imports from
Panama Canal Zone 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 16. Trade with international organizations includes purchases of nonmonetary gold from the IMF, transfers of tin to the International Tin Council (ITC), and sales of
satellites to Intelsat. 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: Eastern Europe, Latin American Republics, other
Western Hemisphere, and other countries in Asia and Africa, less OPEC, and international organizations. Before 1984, complete geographic area detail was not available for some balance of payments adjustments, e.g., timing. Therefore, the new detail shown does not always sum to the
values shown for the traditional area aggregates, e.g., EC(10). For all years, "Asia and "Africa"
exclude certain Pacific Islands and unidentified countries included in "other countries in Asia
and Africa."
8. The statistical identification of automotive products exports to Canada (line D47) 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 $1,708 million in 1982, and
$2,484 million in 1983, has been largely corrected in line C24.
9. Includes nuclear fuel materials and fuels.
10. Includes downward revision amounting to $11 million in 1982 QIII imports from Mexico
which is not in published Census statistics.
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, section
4, 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 A38 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 for Israel and other
countries and is applied directly to lines A37 and C9. A third part of line A3, disbursed directly to
finance purchases by Israel and other countries from commercial suppliers in the United States,
is included in line A32. A fourth part of line A3, representing dollars paid to recipient countries
to finance purchases from countries other than the United States, is included in line A43.
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 partly 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 line A38 includes foreign currency collected as principal, as recorded in lines A13 and A14, respectively.
5. Includes (a) advance payments to the Department of Defense (on military sales contracts)
financed by loans extended to foreigners by U.S. Government agencies and (b) the contraentry for
the part of line CIO which was delivered without prepayment by the foreign purchaser. Also includes expenditutes of appropriations available to release foreign purchasers from liability to
make repayment.
6. Includes purchases of loans from U.S. banks and exporters and payments by the U.S. Government under commercial export credit and investment guarantee programs.
7. Excludes liabilities associated with military sales contracts financed by U.S. Government
grants and credits and included in line C2.
8. Includes $1,000 million prepayment for petroleum to be delivered by Mexico.
9. Includes receipts on short-term Commodity Credit Corporation assets financing U.S. merchandise exports
Table 5:
1. Also included in line 4.
2. Acquisition of equity holdings in existing and newly established companies, capital contributions, capitalization of intercompany accounts, and other equity contributions.
3. Sales, liquidations, and other dispositions of equity holdings, total and partial.
4. Petroleum includes the exploration, development and production of crude oil and gas and the
transporation, refining and marketing of petroleum products exclusive of petrochemicals. Manufacturing excludes petroleum refining. "Other" industries includes mining; trade; banking; finance (except banking), insurance, and real estate; agriculture, forestry, and fishing; construction; transportation, communication, and public utilities; and services.
5. Also included in line 40.
6. For U.S. direct investment abroad, data reflecting the new treatment of unincorporated affiliates (see Technical Notes) are not available for 1981.
Table 6:
1. Primarily provincial, regional, and municipal.
2. Largely transactions by International Bank for Reconstruction and Development (IBRD),
International Development Association (IDA), International Finance Corporation (IFC), Asian Development Bank (ADB), and Inter-American Development Bank (IDE).
3. Estimate for scheduled redemptions and identifiable early retirements. Includes estimates
based on Canadian statistics for redemptions of Canadian issues held in the United States. Unidentified and nonscheduled retirements appear in line 29.
4. Issues through finance affiliates established primarily to borrow capital from abroad. Issues
are almost always guaranteed by the establishing U.S. parent and are often convertible into the
parents' securities. To the extent proceeds are transferred from offshore affiliates to U.S. parents — the common practice —they are recorded as direct investment transactions in table 5, line
8.
Table 7:
1. Amounts outstanding were reduced by an increase in reporting exemption levels from $2
million to $10 million, effective March 1982. Capital flows omit the impact of the drop in reporting coverage.
2. Primarily mortgages, loans, and bills and notes drawn on foreigners.
3. Consists of Western Europe, Canada, Japan, Australia, New Zealand, and South Africa.
4. Bahamas, British West Indies (Cayman Islands), Netherlands Antilles, and Panama.
5. Based on data for Ecuador, Venezuela, Indonesia, and other Asian and African oil-exporting
countries.
Table 8:
1. Includes central governments and their agencies and corporations; state, provincial, and
local governments and their agencies and corporations; and international and regional organizations.
2. U.S.-owned banks are mainly U.S.-chartered banks and Edge Act subsidiaries. U.S. brokers'
and dealers' accounts may be commingled in some categories. Foreign-owned banks include U.S.
branches and agencies of foreign banks and majority-owned bank subsidiaries in the United
States.
3. Western Europe, Canada, Japan, Australia, New Zealand, and South Africa.
(Footnotes continued on p. 73.)
64
SURVEY OF CURRENT BUSINESS
June 1984
Table 10a.—U.S. International Transactions,
[Millions
1 Exports of goods and services
1981
2
2
3
Merchandise, adjusted, excluding military 3
Transfers under U.S. military agency sales contracts
4
5
6
Travel
Passenger fares
Other transportation
7
8
9
10
Fees and royalties from affiliated foreigners .
Fees and royalties from unaffiliated foreigners
Other private services .
U.S. Government miscellaneous services
11
12
13
Receipts of income on U.S. assets abroad:
Direct investment
Other private receipts
U.S. Government receipts
.
.
. . . .
. . .
14 Transfers of goods and services under U.S military grant programs net
15 Imports of goods and services
16
17
Merchandise, adjusted excluding military 3
Direct defense expenditures
18
19
20
Travel
Passenger fares
Other transportation
21
22
23
24
Fees and royalties to affiliated foreigners
Fees and royalties to unaffiliated foreigners
Private payments for other services
U.S. Government payments for miscellaneous services
25
26
27
Payments of income on foreign assets in the United States:
Direct investment
Other private payments
U.S. Government payments
1982
Germany
France
Belgium-Luxembourg
(Credits +; debits — ) 1
Line
1983 "
1981
1983 '
1982
1983 *
1982
1981
7,437
6,887
6,853
9,947
9,605
8,260
15,144
14,003
12,258
5,643
316
5,153
260
4,973
241
7,431
13
7,194
17
5,972
16
10,502
439
9,213
461
8,358
340
76
32
177
75
36
161
66
31
164
279
177
246
287
186
244
254
135
241
659
216
609
637
197
597
542
179
€156
281
31
46
1
233
14
41
1
241
18
50
1
324
133
110
9
281
123
99
17
368
79
129
18.
511
101
146
16
495
107
167
9
524
172
180
48
267
559
8
255
650
8
333
728
7
148
1,066
11
-83
1,228
12
-101
1,136
13
849
363
733
1,087
323
710
689
227
343
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
-3,805
-3,848
-3,477
-8,754
-7,725
-8,373
19,866
20,339
-22,341
-2,281
130
-2,386
-111
-2,402
-159
-5,839
-41
-5,533
-51
-6,011
62
-11,389
3027
-11,902
-3,579
12 642
-4,035
-45
-90
-110
-57
101
-108
-65
133
-100
-375
283
-157
-464
303
-153
-596
333
-158
-361
-386
-668
411
-418
-620
-416
-516
-712
-9
-7
20
-22
-17
-14
-14
28
17
-13
-36
30
108
-30
-71
68
23
-22
-66
93
-85
-24
73
-68
-37
-43
160
-68
-24
35
-114
-77
-12
36
-145
-92
471
-428
-113
204
-291
-27
3
-834
-951
360
-949
-428
191
-771
-383
-48
-538
3141
293
560
-2,892
156
-557
-3,022
-314
-454
-323
28 U.S. military grants of goods and services, net
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
29 Unilateral transfers (excluding military grants of goods and services), net
-15
-20
-18
-48
53
-59
530
470
477
6
-9
-7
13
-7
-11
27
-21
29
-24
-30
-29
-147
677
-149
619
125
602
-1,282
2988
-2,572
161
-3,439
(*)
(*)
30
31
32.
U.S. Government grants (excluding military grants of goods and services)
U.S. Government pensions and other transfers
Private remittances and other transfers
33 U.S. assets abroad, net (increase/capital outflow ( — ))
34
35
36
37
38
U.S. official reserve assets, net 4
Gold
Special drawing rights
Reserve position in the International Monetary Fund
Foreign currencies
39
40
41
42
U.S. Government assets, other than official reserve assets, net
U.S. loans and other long-term
assets
Repayments on U.S. loans 5
U.S. foreign currency holdings and U.S. short-term assets net
43
44
45
46
47
U.S. private assets, net
Direct investment
Foreign securities
U.S. claims on unaffiliated foreigners reported by U.S. nonbanking concerns
U.S. claims reported by U S banks not included elsewhere
49
50
51
52
53
54
55
Foreign official assets in the United States, net
U.S. Government securities6
U.S. Treasury securities
Other7
Other U.S. Government liabilities8 ....
U.S. liabilities reported by U.S.
banks, not included elsewhere
Other foreign official assets9
56
57
58
59
60
61
Other foreign assets in the United States net
Direct investment
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
U.S. liabilities reported by U.S. banks, not included elsewhere
409
1,226
-1,708
1,286
675
(*)
(*)
(*)
1708
1,286
675
-35
59
24
(*)
8
13
17
4
-15
22
16
9
3
-1
20
12
-9
8
-9
6
14
-2,569
-22
1 373
-19
1 155
-126
157
21
366
670
-3,447
548
-515
406
3886
-568
644
-213
15
-1,014
-93
-293
-22
47
175
-876
-18
(*)
203
1061
531
-184
42
62
611
-257
-125
47
1,832
3098
1,169
1,622
(xl)
(")
(")
(")
O1)
30
57
92
23
-26
59
-3
11
-37
15
44
17
-20
-1,256
19
-416
101
-960
-3,047
(*)
547
92
2 592
793
-1,438
J
(")
( 1X )
(")
(")
44
69
-77
3
J
1X
48 Foreign assets in the United States, net (increase/captial inflow ( + ))
-1,798
(*)
-583
( )
(")
(")
(")
329
( 1X )
82
-16
"354
390
t11)
-240
1
"-1,658
206
( 1X )
-267
-184
"65
1,999
(")
916
399
"-3,442
-3,128
1,407
-529
-859
3,362
3,632
3,617
3,617
2,767
3,039
3,019
3,019
2,571
3,376
3,358
3,358
1,592
1,193
1,145
1,145
xl
-109
(")
(")
(")
("),
-166
153
( 1X )
t11)
162
-186
-80
6
"101 "1,802
1,747
(X1)
826
-155
" -5,407
535
(")
2,442
14
"-1,702
645
(")
1,332
-15
"-363
1,565
-1,077
9,088
4,288
6,758
1,661
1,880
1,827
1,827
-39
-113
-172
-172
-887
4722
-4,192
-4,192
-2,689
6336
-5,866
-5,866
-4,284
10 083
-9,606
-9,606
( )
62 Allocations of special drawing rights
63 Statistical discrepancy, and transfers of funds between foreign areas, net (sum of
above items with sign reversed).
64
65
66
67
Memoranda:
Balance on merchandise trade (lines 2 and 16)10
Balance on goods and services (lines 1 and 15)
Balance on goods, services, and remittances (lines
65 31 and 32)
Balance on current account (lines 65 and 29) 10
See footnotes on page 63.
65
SURVEY OF CURRENT BUSINESS
June 1984
by Selected Countries (published annually)
of dollars]
Italy
1981
Netherlands
1982
1983 "
Mexico
1981
1982
1983 P
1981
1982
1982
South Africa
Australia
Venezuela
1981
1983 P
Line
1983 P
1981
1982
1983 P
1983 P
1982
1981
7,568
7,116
6,042
10,304
10,451
10,883
27,507
19,224
15,904
8,244
8,144
4,184
8,282
6,580
6,140
3,951
3,106
2,847
1
5,415
25
4,641
31
3,902
30
7,358
396
7,455
461
7,635
524
18,207
3
11,736
84
9,081
15
5,441
13
5,192
27
2,700
129
5,118
358
4,402
124
3,844
374
2,915
2,369
(*)
2,130
(*)
2
3
114
91
237
113
88
222
111
88
190
139
22
498
137
10
460
133 \
4
546
3,775
3,098
1,951
822
830
527
293
219
189 .
221
175
261
253
173
237
237
178
256
42
2
112
42
4
98
46
5
78
4
5
6
273
68
84
2
288
84
95
2
307
87
91
8
347
28
82
2
390
27
76
1
540
25
90
1
250
42
443
9
154
25
368
4
114 '
24
329
13 .
25
21
7
465
197
126
273
42
91
2
257
38
150
2
280
32
166
5
84
29
96
1
73
25
57
2
81
22
50
2
7
8
9
10
385
849
25
484
1,027
41
305
890
33
1,218
206
g
1,198
231
5
1,172
210
3
1,362
3,049
74
-1,309
4,651
194
297
1,168
13
311
1,549
17
-675
1,355
15
1,362
368
535
393
16
362
381
25
491
179
192
244
164
269
11
12
13
(
}
-169
4,005
352
{
(
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
14
-7,527
-7,708
-7,669
-7,231
-6,120
-6,883
-18,352
-20,882
-22,271
-6,405
-6,086
-5,984
-3,415
-3,387
-3,624
-2,589
-2,115
-2,511
15
-5,181
-661
-5,290
-623
-5,444
-566
-2,348
-68
-2,476
-90
-2,960
-79
-13,767
-1
-15,556
—2
-16,774
-1
-5,563
-15
-4,761
-4
-4,937
-1
-2,459
-34
-2,282
-35
-2,220
-35
-2,445
-1
-1,967
-1
-2,365
-1
16
17
-210
-94
-321
-205
-123
-288
-259
-140
-324
-8
-31
-52
-12
-18
-47
-26
-21
-31
18
19
20
-9
-2
-17
-23
-2
-2
-21
-25
-3
-3
-22
-29
(*)
(*)
-7
-10
(*)
-1
-12
-16
(*)
-3
-17
-16
21
22
23
24
-301
-180
-311
-490
-187
-305
-485
-216
-274
-75
-347
-271
-97
-432
-249
6
-4
-53
-26
3
-8
-61
-25
1
-4
-68
-36
-12
-20
-18
-10
-11
-11
-35
-10
30
-494
-352
2
-498
-226
38
-359
-256
-3,283
-455
-324
n.a
n.a.
n.a.
-207
-203
-19
-154
-34
-1,973
-128 \
-466 /
-285
-2,862
'
-3,324
-3,576
-259
-225
-324
-35
-10
-20
-11
-4
-1
-623
-51
2
-1
-730
-38
2
-1
-722
-48 !
-275
-1,838
-463
-408
-1,971
-371
-547
-2
-777
-5
18
-1,017
-9
1
-814
-14
-15
-505
-32
-6
-1,000
-38
-27
-763
-21
-26
-69
-151
-5
-77
-322
-53
-64
-472
-1
-27
-7
6
-39
-8
8
-35
-4
25
26
27
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
28
-207
-13
-15
-15
-348
-298
-310
-16
-9
-8
-29
-38
-36
-16
-13
-11
29
11
-166
-26
15
-169
-23
-7
-6
-8
-7
-8
-7
— 13
-133
-202
— 14
-147
-137
— 10
-157
-143
-2
-14
-2
-7
-2
-6
-10
-19
-12
-26
-12
-24
-1
-15
-1
-12
-2
-9
30
31
32
-2,526
-1,529
-1,069
-591
98
-11,401
-7,751
-2,756
-2,134
-3,378
244
-1,220
-233
-1,110
-938
-899
-406
-1,218
1,218
-277
-235
!
— 1,218
1,218
20
31
-146
-236
90
(*)
-1,070
1315
245
(*)
620
—333
953
(*)
-41
—73
33
-1
2
31
33
(*)
_9
—31
23
-1
-77
—96
15
4
-610
274
-92
-117
-675
47
-76
-24
63
84
-11,255
-951
-373
-24
-9.907
-5,463
1,254
47
293
-7,057
-4,594
494
7
-114
-4,981
-2,093
-343
13
-25
-1,738
-3,380
-56
23
81
-3,428
253
769
-66
84
-534
-1,143
-623
26
-60
-486
5,464
5,618
3,413
2,913
1,297
2,497
1,084
4,513
-60
163
(»)
C11)
(-)
<">
C")
(»,
C11)
33
61
12
-79
2
55
-46
««,
C11)
(»>
C11)
(»)
C11)
363
C11)
11
21
"-309
333
(ii)
-14
61
"-1,605
152
(ii)
13
30
"2,924
4,732
(ii)
112
130
"478
3,975
(ii)
-30
202
"1,550
2,479
(ii)
-58
-184
"1,174
-102
-154
51
1
39
_7
46
(*)
38
35
19
51
40
-2
33
2
26
-7
-1,871
36
13
-90
-1,830
-2,565
2
5
359
-2,931
-1,567
-292
7
39
-1,321
-1,104
-769
-56
16
-295
107
-1,192
3,180
(»,
(-)
21
20
C11)
-3
51
"2,790
33
34
35
36
37
38
-1
-1
-75
-120
45
(*)
3
3
-1
-1
39
40
41
42
-197 -1,035
-273
318
-228
-396
78
9
-612
-128
-941
-281
-62
6
-604
-898
51
17
37
-1,003
-405
109
117
-20
-611
43
44
45
46
47
2,481
201
-96
93
48
-36
63
27
(*)
5,169
0,
(»)
C11)
(->
C11)
C",
c»,
C11)
0,
5
29
257
47
-288
130
149
-4
-3
(»>
(»)
C11)
C11)
C11)
C11)
<»)
(»)
(-,
(*)
t11)
41
(ii)
-10
57
"1,255
12
(ii)
31
266
"2,183
1
(ii)
16
-19
"1,057
184
(ii)
19
160
"1,969
-6
(ii)
-5
(ii)
3
39
"-130
-1
(ii)
16
-98
"4,339
-12
(ii)
34
28
11
-157
<"',
248
(ii)
-46
-15
"264
153
(ii)
130
39
"4,717
79"
"132
{
{
49
50
51
52
53
54
55
56
2
(ii)
31
-99
"159
57
58
59
60
61
62
2,032
4,513
183
-7,455
-9,343
-7,496
-319
8,410
6,936
-773
-3,184
1,624
234
41
-147
-166
-649
-592
-784
-795
-1,542
-1,627
-1,819
-1,834
5,010
3,073
3,060
3,060
4,979
4,331
4,316
4,316
4,675
4,000
3,985
3,985
4,440
9,155
8,820
8,807
-3,820
-1,658
-1,942
-1,956
-7,693
-6,367
-6,667
-6,677
-122
1,839
1,823
1,823
431
2,058
2,049
2,049
-2,237
-1,800
-1,808
-1,808
-3,781
2,659.
4,867
4,838
4,838
-8,091
-3,851
-609
17
-12
63
2,120
3,193
3,155
3,155
1,624
2,516
2,480
2,480
470
1,362
1,346
1,346
402
991
978
978
-235
336
325
325
64
65
66
67
66
SURVEY OF CURRENT BUSINESS
June 1984
Table 10.—U.S. International
[Millions
Ref. lines
(table 10,
March
1984
Survey)
(Credits + ; debits -) l
Line
1 Exports of goods and services 2
1
3
2
3
Merchandise adjusted excluding military
Transfers under U S military agency sales contracts . .
4
5
6
Travel
Passenger fares
Other transportation
.
European Communities (10)
Western Europe
1982
1983
106,067
99,701
92,524
United Kingdom
1982
1983
1981
1982
1983
83,779
78,815
73,135
28,356
25,678
24,027
46,905
1,946
43,332
1,989
12,483
368
10,694
375
10,384
532
1981
1981
x1
2
3
65,108
2,719
59,701
2,776
54,877
3,004
51,366
1,889
4
5
6
2,549
1,297
4,036
2,476
1,306
3,790
2,157
1,139
3,875
2,010
1,072
3,184
1,906
1,051
2,985
1,666
927
3,050
634
474
779
547
472
752
466
431
701
7
8
9
10
Fees and royalties from affiliated foreigners
Fees and royalties from unaffiliated foreigners
Other private services
U S Government miscellaneous services
7
8
9
10
3,002
602
1,064
100
2,981
602
1,174
104
3,315
616
1,270
158
2,687
492
795
77
2,680
503
892
79
2,936
532
1,023
135
798
119
264
45
819
122
344
46
768
124
417
51
11
12
13
Receipts of income on U.S. assets abroad:
Direct investment
Other private receipts
U.S. Government receipts
11
14
15
11,838
12,314
1,438
8,987
14,422
1,382
7,929
13,140
1,045
8,980
10,259
968
6,725
12,200
945
5,895
11,086
564
5,411
6,878
103
3,061
8,352
95
2,628
7,435
90
14 Transfers of goods and services under U.S. military grant programs, net
16
114
252
60
31
64
13
(*)
(*)
15 Imports of goods and services
17
-96,320
-96,097
-98,634
75,629
-76,387
-79,080
-24,757
-26,742
-25,266
16
17
Merchandise adjusted excluding military 3
Direct defense expenditures
18
19
-52,873
-6,231
-52,908
-6,901
-53,896
-7,012
-41,424
5,338
42,349
-6,142
43,739
-6,396
-12,746
-827
-13,046
896
-12,392
-904
18
19
20
Travel
Passenger fares
Other transportation
20
21
22
-3,123
-3,344
-4,049
-3,413
-3,507
3,678
-3,991
-4,096
-3,857
-2,429
2,531
-3,052
2,711
-2,558
-2,738
-3,133
-3,013
-2,851
-952
-1,001
-858
-895
-862
-737
1,061
-1,072
735
21
22
23
24
Fees and royalties to affiliated foreigners
Fees and royalties to unaffiliated foreigners
Private payments for other services
U S Government payments for miscellaneous services
23
24
25
26
-534
-222
-857
428
-186
-206
-905
478
276
—212
-886
513
375
—205
724
-283
-81
— 186
-754
-323
-171
-178
-703
349
-373
-54
-20
-94
424
-55
-313
-68
25
26
27
Payments of income on foreign assets in the United States:
Direct investment
Other private payments
U.S. Government payments
27
30
31
-5,144
-11,881
-7,636
3744
-13,200
-6,971
-5,069
-11,361
7,466
-4,735
-8,228
-6,304
-3,572
9,488
-5,485
4,589
-8,331
-5,626
-1,103
-5,350
1,182
-1,883
6,497
-1,334
2,456
-5,904
-1,235
28 U.S. military grants of goods and services, net
32
-114
-252
-60
-31
-64
-13
(*)
(*)
29 Unilateral transfers (excluding military grants of goods and services), net
33
-90
-504
-280
299
203
246
259
224
246
30
31
32
34
35
36
-182
643
735
-473
677
646
-288
-672
680
-23
-500
823
-14
532
748
17
-517
779
-64
323
-71
295
-73
320
33 U S assets abroad net (increase/capital outflow ( ))
37
29 166
43968
-9,414
-24,658
38,013
-7,724
-17,386
28,152
-2,630
34
35
36
37
38
38
39
40
41
42
-779
(*)
1,245
1,123
-1,707
(*)
1,286
675
(*)
(*)
-779
1,245
1,123
1708
1,286
675
(*)
43
44
45
46
-70
-1,202
1,123
9
278
-868
1,132
15
-104
1 170
1,031
35
15
-414
481
-52
409
-133
509
32
252
-239
451
39
132
-49
174
7
202
-29
237
-7
125
84
203
6
47
48
51
52+53
-28,317
-5,278
-681
1,695
-45,491
-783
-2,573
919
-10,433
-3,224
-5,059
-1,483
-22,965
-3,257
-716
1,848
39,708
258
2,739
605
-8,650
-1,459
-5,518
-1,724
-17,518
-1,989
142
1,423
28,354
261
1,618
-399
-2,754
-797
-3,676
-1,797
U.S. Government grants (excluding military grants of goods and services)
U S Government pensions and other transfers
Private remittances and other transfers
Gold
Special drawing rights
Reserve position in the International Monetary Fund
Foreign currencies
39
40
41
42
U.S. Government assets, other than official reserve assets, net
U S loans and other long-term
assets
Repayments on U.S. loans 5 .
....
U.S. foreign currency holdings and U.S. short-term assets, net
43
44
45
46
U.S. private assets, net
Direct investment
Foreign securities
U.S. claims on unaffiliated foreigners reported by U.S. nonbanking
concerns.
U.S. claims reported by U.S. banks, no including elsewhere
213
-36
Qft
54+55
-24,053
-43,054
-667
-20,841
37,831
50
-17,094
-26,076
3,516
48 Foreign assets in the United States, net (increase/capital inflow ( + ))
56
15,411
45,709
38,277
12,879
32,384
30,819
9,960
27,775
19,950
49
50
51
52
53
54
55
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 U9 S banks not included elsewhere
Other foreign official assets
57 -15,728
58
59 \
(14)
60
-106
61
62
63 |
(14)
-4,433
6,509
(14)
(14)
I „
(15)
(15)
(15)
(15)
(15)
-39
107
49
30
(14)
(14)
(15)
(15)
56
57
58
59
60
Other foreign assets in the United States, net
Direct investment ..
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.
U.S liabilities reported by U S banks not included elsewhere.
64
65
68
69
70+71
31,139
13,811
50,141
11,380
31,768
8,719
13,087
10,430
(14)
(14)
(15)
(15)
5,368
920
5,196
-448
5,127
-1,345
4,866
213
5,623
-163
72+73
(14)
(14)
(14)
47
61
(14)
-188
\
15
(15)
-5,098
15
16,544
15
42
36
(15)
(15)
(15)
7,733
3,837
5,298
3,988
(15)
(15)
(15)
(15)
3,094
-992
2,877
-162
3,285
-311
2,211
-654
20,955
-100
15
3,508
15
19,461
15
14,441
62 Allocations of special drawing rights
74
63 Statistical discrepancy, and transfers of funds between foreign areas, net
(sum of above items with sign reversed).
75
4,099
-4,841
-22,472
3,329
2,998
-17,397
3,568
1,218
-15,327
76
77
78
79
12,235
9,746
9,838
9,656
6,793
3,604
3,574
3,101
981
6111
-6,103
6391
9,942
8,150
8,473
8,450
4,556
2,429
2,645
2,632
407
-5,945
5682
-5,699
-263
3,600
3,859
3,859
-2,352
-1,064
-841
-841
-2,008
-2,239
-1,993
- 1,993
64
65
66
67
Memoranda:
Balance on merchandise trade (lines 2 and 16) 10
Balance on goods and services (lines 1 and 15)
Balance on goods services and remittances (lines
65 31 and 32)
Balance on current account (lines 65 and 29)10
See footnotes on page 63.
SURVEY OF CURRENT BUSINESS
June 1984
67
Transactions, by Area
of dollars]
European Communities (6)12
1981
1982
Eastern Europe
1983
1981
1982
Canada
1983
1981
1982
1983
1982
1981
Line
1983
1981
1982
1981
1982
1983
50,524
48,401
44,389
5,273
4,377
3,561
61,492
53,877
61,376
80,024
71,412
57,196
32,327
30,751
31,427
13,593
10,918
9,977
1
33,792
1,231
30,732
1,151
4,440
3,749
2,918
46,016
117
39,203
102
43,813
142
42,804
57
33,152
181
25,581
251
21,796
370
20,694
479
21,677
421
8,998
369
7,656
134
6,584
388
2
3
1,267
538
1,767
1,249
517
1,684
1,106
437
1,797
2,672
2,624
3,168
158
134
243
833
820
843
5,517
600
1,704
4,892
595
1,668
3,726
594
1,631
949
513
1,844
1,084
618
1,950
1,128
700
1,876
351
216
447
399
216
403
388
231
416
4
5
6
1,736
361
469
31
1,687
355
478
30
1,980
382
539
76
28
74
4
21
75
4
18
90
7
972
69
548
19
962
66
606
40
991
55
644
50
671
131
1,437
66
590
110
1,259
60
514
100
1,172
79
363
423
171
15
303
475
208
14
387
500
246
19
377
79
264
3
350
90
226
5
379
70
233
8
7
8
9
10
2,866
3,253
787
2,942
3,659
778
2,397
3,391
401
445
124
352
41
244
41
4,253
5,963
29
2,879
6,541
34
5,157
6,471
41
6,143
20,507
388
2,706
25,698
502
690
22,228
632
939
4,765
179
650
4,098
177
1,193
3,087
192
1,914
558
18
752
665
23
565
684
31
11
12
13
-1
23
75
55
-1
-1
-1
-46,180
-46,138
-49,710
-6,630 -7,295
15
-37,685 -41,307 -5,610 -5,033 -5,317
-44
-42
-1,359 -1,312
-43
16
17
1
-1
-45,763
-48,770
-1,817 -1,285 -1,661
-54,120
-53,561
-60,672
-58,679
-62,053
-63,852
-26,985
-3,927
-27,607 -29,486
-4,454 -4,901
-1,553 -1,067 -1,371
-3
-2
-1
-48,258 -48,526
-173
-134
-54,359
-237
-39,099
-352
-38,559
-312
-41,867 -37,598
-314
-1,092
14
-7,019
-1,157
1,286
-1,517
-1,519
1,441
-1,435
-1,690
-1,664
-1,529
-57
-28
-109
-47
-73
-2,070
-1,936
-2,160
-86
-136
-628
-580
-667
-4,522
-353
-1,653
-5,053
-398
-1,631
-5,517
-469
-1,774
-214
-189
2,122
-272
-219
-2,084
-302
237
-2,101
-351
-224
-410
-379
-256
-371
-518
-292
-398
18
19
20
-160
-105
-322
-194
72
-91
-289
-233
148
-86
-342
-237
-2
-10
-31
-1
-13
-37
(*)
-15
-42
-291
-13
-330
-48
-269
-10
-328
-82
-358
-10
-352
-117
-46
-10
-1,393
-296
28
-10
-1,711
-338
61
-10
-1,690
-333
89
-37
-89
-60
170
-31
-133
-58
154
-38
-114
-48
-8
-3
-29
-38
-2
-3
-41
-46
-3
-6
-44
-50
21
22
23
24
3611
-2,774
5091
1655
-2,897
-4,069
-2,102
-2,349
-4,236
-23
1
-31
-22
(*)
140
-2,009
-198
436
-1,807
286
-296
-1,751
366
-852
-9,808
296
-203
-13,559
-250
-285
-11,393
-261
-725
-1,045
-3,099
-387
-1,260
-2,820
-1,065
-1,096
-2,243
38
-107
-159
-1
-127
-330
-42
-105
-476
25
26
27
23
75
55
1
1
1
-64
-144
-198
-218
-153
-1,246
-1,338
-1,507
-70
-90
-48
-59
-62
-58
29
-384
-250
-612
-516
-278
-545
-652
-297
-558
-14
-56
-8
-82
1
-49
(*)
-14
-45
(*)•
-16
-46
(*)
-17
-41
30
31
32
-45,150 -46,541
-10,373
-5,009
-2,497
-3,547
-2,127
-1,279
-1,573
33
2093
2,083
-82
-192
98
-2,093
2,083
-82
-192
98
-1,480
-2,773
1,297
-3
-234
-2,070
1,811
25
-69
-141
72
-1
84
-16
99
1
16
-76
91
1
1
1
1
242
176
176
-115
-23
-342
607
14
-359
549
17
-339
532
-1
-23
-91
-6,397
-9,130
-1,708
1,286
675
-47 '
58
-75
-36
-24
-84
-220
22
-237
19
-245
93
67
130
-8,982
-1,506
-7,686
-3,354 -1,056
1,708
1,286
675
-120
-213
135
-43
129
-19
116
32
96
-22
104
14
-182
-473
344
-53
-364
-24
55
-394
-242
-45
64
-261
-52
-107
60
-5
-131
-156
65
-40
-76
-164
67
21
-4,570
-849
581
441
-10,544
807
-1,149
943
-4,125
71
-1,561
160
-874
431
373
-40
I
20
1
40
-8,930
757
-3,697
-1,638
-1,376
1,616
-2,362
2,612
-7,611
-1,413
-1,582
-1,651
-44,638 -42,968 -12,222
6,500
3,066
197
92
658
-83
2,247 -2,207
-516
-4,858
-488
17
-368
-2,389
2
-1,107
307
-3,580
-11,145
-2,795
-834
412
332
-4,352
-3,241
-2,965
-44,236
-51,808 -13,740
-4,019
3,137
4,206
9,786
69
67
51
3,934
1,261
6,147
32,501
9,298
795
-317
351
) _«,.,
(15)
9,170
(15)
(15)
(15)
(15)
62
(*)
(*)
(*)
(15)
(15)
(15)
2,320
170
15
-3,314
(15)
(15)
15
(15)
(15)
(15)
834
-347
-2
4
(*)
-11
5,602
f
(14)
-46
|
3,139
1,772
3,636
(15)
1,947
378
-8,326
(15)
-37
5,068
(15)
15
1983
36,261
1,189
-47,128
J
Australia, New Zealand,
and South Africa
Japan
Latin American Republics and
Other Western Hemisphere
(15)
(14)
(14)
(14)
17
-16
(14)
(14)
(14)
-512
-1,652
1,173
-33
f
I
31,056
27,058
-3,662
-1,050
-539
-137
-2,048 -1,136 -1,560
-175
395
956
-111
-379
-36
58
46
-55
43
44
45
46
-1,591
-1,936
-1,001
-1,298
-1,332
47
-1,992
7,225
290
5,123
2,508
48
(15)
(15)
132
145
(49
150
151
152
53
(15)
(15)
(15)
(15)
(15)
(15)
87
240
82
38
-172
-148
(15)
(15)
(15)
(15)
{5
4
55
5,796
118
1,620
1,542
(15)
(15)
1,706
(15)
2,938
1,918
(15)
378
(15)
(15)
(15)
(15)
(15)
97
190
460
-547
674
102
292
437
29
2
956
347
-46
63
134
78
46
61
56
57
58
59
60
2,070
61
-4,678 -8,070 -3,558
63
1,267
2,682
2,624
2,624
64
65
66
67
(14)
(14)
1,274
403
31
(14)
(14)
(14)
-2,355 -3,162 -1,938
-2,126
147
988
-7,450
7,465
-8,522
9,634
19,967
14,654
1,547
1,901
1,793
1,757
-2,242
7,372
7,174
7,174
-9,323 -10,546
316
704
98
551
98
551
3,705
21,345
20,483
20,100
-5,407
9,360
8,537
8,021
-16,286
-6,656
-7,510
-8,163
-15,802
-13,854
-13,923
-13,923
-16,991
-15,388
-15,478
-15,478
-19,630
-18,283
-18,332
-18,332
15
(15)
-286
1,578
-1,025
246
330
78
-43
-63
45
-25
-79
-97
33
-15
(15)
1,034
356
15
34
35
36
37
38
39
40
41
42
20
67
:
-14
-120
60
47
(*)
15
28
15
30,507
15
29,360
15
25,821
15
5,592
15
-3,768
15
4,364
15
293
185
144
266
15
4,634
15
62
-377
2,109
-2,227
9,276
3,396
3,661
3,638
6,185
2,638
2,828
2,815
1,246
-4,382
-4,189
-4,205
2,887
3,456
3,342
3,341
2,682
3,092
3,075
3,028
3,388
6,574
6,515
6,515
2,623
4,288
4,226
4,226
68
SURVEY OF CURRENT BUSINESS
June 1984
Table 10.—U.S. International
[Millions
Other countries in Asia and
Africa
Line
1981
1 Exports of goods and services
2
1982
1983
73,923
75,181
72,278
47,835
6,366
46,978
8,449
44,742
8,532
2
3
Merchandise, adjusted, excluding military3
Transfers under U.S. military agency sales contracts
4
5
6
Travel
Passenger fares
Other transportation
875
485
2,603
918
439
2,765
841
373
3,280
7
8
9
10
Fees and royalties from affiliated foreigners
Fees and royalties from unaffiliated foreigners
Other private services
U.S. Government miscellaneous services ..
662
158
1,404
216
583
209
2,142
210
764
220
1,767
243
11
12
13
Receipts of income on U.S. assets abroad:
Direct investment
Other private receipts
U.S. Government receipts
6,501
5,228
1,591
5,557
5,098
1,834
4,475
4,751
2,291
538
267
91
14 Transfers of goods and services under U.S. military grant programs, net
15 Imports of goods and services
16
17
Merchandise, adjusted, excluding military 3
Direct defense expenditures
18
19
20
Travel
Passenger fares
Other transportation
21
22
23
24
Fees and royalties to affiliated foreigners
Fees and royalties to unaffiliated foreigners
Private payments for other services
U.S Government payments for miscellaneous services
25
26
27
Payments of income on foreign assets in the United States:
Direct investment
Other private payments
U.S. Government payments
-95,730 -81,825 -80,546
1981
1,142
1,294
-2,133
356
-3
-240
-486
387
_7
-320
-555
-155
-3,575
-4,755
-230
3588
-6,666
287
28 U.S. military grants of goods and services, net
330
1,416
-373
-2,389
1984
1983
I
IV
III
II
I"
1982
1983
3,023
3,233
3,863
23,556
23,345
21,760
23,863
26,048
88
5
65
88
65
(*)
14,948
797
13,674
752
12,348
796
13,907
659
1.4,900
774
937
783
638
442
246
947
538
287
896
715
370
1,029
462
236
1,004
945
95
1,052
66
777
152
309
35
834
153
309
52
752
155
329
37
952
156
322
35
786
157
326
24
961
403
-87
738
600
126
749
809
560
1,464
3,180
260
2,359
3,225
266
1,737
3,279
214
2,369
3,457
305
3,642
3,535
193
15
7
25
14
9
-208
-76
-2,729 -3,002 -2,744
-22,286 -25,352 -25,770 -25,226 -29,320
-12,587 -13,767 -13,758 -13,784 -17,673
-1,763 -1,788 -1,746 -1,716 -1,654
-23
-321
786
-902
-1,235
-1,402
-879
-1,719
-1,058
-1,033
-716
-850
-1,043
-438
-953
-1,121
-502
-52
-52
-226
-129
-70
-53
-219
-130
-62
-53
-217
-130
-92
-54
-224
124
-113
-53
-280
-126
-918
-2,722
-1,829
1315
-2,712
-1,782
1275
-2,843
1877
-1,561
-3,083
1,978
-1,645
-3,211
-2,053
62
-62
65
-1,419 -1,159 -1,000
252
-5
420
436 '
251
1,024
893
76
-253
-80,095 -63,866 -63,195
3264
3224
3302
-2,084
Western Europe
International
organizations 13
and
unallocated
54
80
88
-589
-478
-643
24
-3,045
-6,086
-105
-611
-774
-330
-759
261
-14
-9
-538
-267
-15
-7
-25
29 Unilateral transfers (excluding military grants of goods and services), net
-4,278
-5,107
-5,820
-777
-675
-641
9
-51
-74
-165
-70
30
31
32
-3,119
299
-3,731
315
-1,060
-4,454
324
-1,042
-766
-656
-630
11
-28
-164
201
-39
-176
164
-93
-165
184
-128
-167
131
-47
-178
155
-6,733 -5,998 -6,905
4,412
2,255
-6,138
-1,119
-4,646
-4,314 -3,924 -4,500
318
406
167
231
-208
-208
U.S. Government grants (excluding military grants of goods and services)
U.S. Government pensions and other transfers
Private remittances and other transfers
860
33 U.S. assets abroad, net (increase/capital outflow ( — ))
34
35
36
37
38
U.S. official reserve assets, net4
Gold
Special drawing rights
Reserve position in the International Monetary Fund
Foreign currencies
39
40
41
42
U.S. Government assets, other than official reserve assets, net
U.S. loans and other long-term
assets
Repayments on U.S. loans5
U.S. foreign currency holdings and U.S. short-term assets, net
43
44
45
46
U.S. private assets net
Direct investment
Foreign securities
U.S. claims on unaffiliated foreigners reported by U.S. nonbanking
concerns.
U.S. claims reported by U.S. banks, not included elsewhere
47
-12,754 -17,176 -10,121
,
-3,317
5166
1,584
264
48 Foreign assets in the United States, net (increase/capital inflow ( + ))
49
50
51
52
53
54
55
Foreign official assets in the United States net
U.S. Government securities 6
U.S. Treasury securities
Other7
Other U.S. Government liabilities8. ...
U.S. liabilities reported by U.S.
banks, not included elsewhere..
Other foreign official assets9
56
57
58
59
60
Other foreign assets in the United States
Direct investment
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.
U.S. liabilities reported by U.S. banks, not included elsewhere
:
61
-91
64
65
66
67
Memoranda:
Balance on merchandise trade (lines 2 and 16)10
Balance on goods and services (lines 1 and 15)
Balance on goods, services, and remittances (lines 65, 31 and 32)
Balance on current account (lines 65 and 29) 10
See footnotes on page 63.
66
1,824
2491
1,371
2552
318
406
167
231
-826
-831
5
-764 -1,031
-790 -1,036
27
5
-63
340
259
18
-166
348
230
48
3
-228
222
8
123
-254
320
57
-171
-376
209
-4
-1,593 -1,310 -1,374
-530
-667
-264
-666
-966
-992
(*)
-4,668
-319
-1,136
-1,300
2,015 -6,307 -1,473
-303
1 984
-618
-1,210
1 873 -840
461
707
-429
-4,267
- 2067
-662
n.a.
4434
-3,725
-5,373
1,564
85
-3,328
5250
1,841
81
9 436 -13,451
3 190 -2,710
268
-780
-259
475
-6,792
-1,556
-378
47
-5,720 -10,436
-4,905
40
-54
-178
-1,914
4,935
4,190
502
- 1539
-1,301
1,647
1,059
1,757
5,135
8,927
9,481
14,735
7,412
18
-24
47
290
2,306
182
3,731
120
14
(14)
(14)
(14)
(14)
-18,164
12,899
J
15
( )
(15)
'
-4
227
15
\
2,741
15
16,090
15
13,366
( )
21
143
7
-64
}
14
( )
(14)
(14)
(14)
4,844
2,089
6,621
2,359
9,299
2,595
11,004
1,676
7,292
1,282
87
(14)
1,082
1,711
(15)
(15)
(15)
(15)
430
-1,059
63
-25
69
76
106
153
2,384
-499
1,814
321
943
-873
-15
-294
472
n.a.
1,452
(14)
(14)
(14)
(14)
(14)
193
(15)
262
-1,863
1
47
-24
1,629
907
(15)
18
19
(15)
( )
365
-1,028
,{
,{
15
-846
62 Allocations of special drawing rights
63 Statistical discrepancy, and transfers of funds between foreign areas, net
(sum of above items with sign reversed).
20
-11
15
1,592
15
937
15
(14)
(14)
(14)
(14)
(14)
1,093
20,675
16,027
25,509
4,475
5,383
4,670
-2,002
-9,124
741 -12,089
576
32260
16888
18453
-21,807 -6,644 -8,268
22966 -8,019 -9,634
-26,085 -11,750 -14,088
88
294
283
-483
42
231
211
-444
65
1,119
1,108
478
2,361
1,270
1,307
1,279
93
-2,007
2019
-2,058
1 410
123
-4,011 -1,363
3 992 -1,399
-4,085 -1,527
-2,773
3 272
-3,295
-3,342
69
SURVEY OF CURRENT BUSINESS
June 1984
Transactions, by Area—Continued
of dollars]
European Communities(lO) l *
1983
I
European Communities(6)12
United Kingdom
1984
1983
III
IV
IP
18,365
18,750
17,308
18,712
20,765
5,403
6,673
5,914
6,037
11,549
582
10,872
508
9,906
541
11,005
359
11,952
458
2,671
179
2,656
123
2,407
129
2,650
101
342
205
752
406
240
698
565
293
817
353
189
783
317
201
776
101
91
180
120
127
151
148
129
181
97
84
189
704
131
247
29
738
133
249
45
665
134
267
31
831
135
260
31
693
134
257
17
211
31
102
12
213
31
101
25
180
31
113
11
980
2,688
158
1,991
2,730
142
1,203
2,776
112
1,721
2,892
153
2,905
2,950
104
1
1,818
7
1,295
1,822
10
698
1,880
8
I
II
III
1984
1983
1984
II
Line
I
II
III
IV
IP
6,719
11,781
10,928
10,224
11,456
12,865
1
2,932
132
8,306
316
7,675
297
6,945
322
7,806
215
8,458
289
2
3
110
100
185
220
104
429
261
101
423
394
152
488
231
80
456
185
90
437
4
5
6
165
31
102
3
238
31
105
7
454
93
128
13
481
95
132
19
441
97
138
17
604
97
142
28
402
97
135
8
7
8
9
10
634
1,915
66
950
1,921
8
771
820
127
492
836
117
306
840
84
828
897
73
1,750
937
77
11
12
13
(*)
—1
(*)
14
-11,070
-12,392
-12,613
-12,696
-15,059
15
-7,417
-1,214
-7,692
-1,214
-10,139
-1,198
16
17
IP
IV
1
1
9
2
2
(*)
-17,651
-20,141
-20,893
-20,395
-23,284
-5,678
-6,734
-7,194
-10,070
-1,630
-11,046
-1,587
-11,369
-1,596
-11,254
-1,583
-14,232
-1,529
-2,668
-233
-3,160
-220
-3,534
-215
-3,030
-235
-3,493
-242
-6,973
-1,237
-7,404
-1,236
-239
-564
-673
-984
-1,015
-642
-1,333
-755
-773
-577
-679
-763
-314
-680
-799
-78
-203
-182
-297
-376
-152
-458
-269
-199
-228
-224
-202
-107
-253
-200
-142
-290
-343
-547
-583
-362
-704
-415
-413
-297
-376
-411
-187
-352
-423
18
19
20
-30
-45
-179
-85
-43
-44
-175
-102
-46
-45
-174
-96
-47
-45
-175
-67
-87
-46
-178
-89
-8
-23
-87
-15
-6
-22
-78
-28
-9
-22
-74
-15
-14
-23
-75
-9
-38
-23
-80
-10
-26
-22
-81
-56
-46
-22
-85
-66
-40
-22
-88
-68
-36
-22
-88
-48
-46
-22
-86
-70
21
22
23
24
-748
1,967
-1,422
-1,166
-1,978
-1,354
-1,217
-2,091
-1,399
-1,458
-2,296
-1,451
-1,404
-2,446
-1,479
-494
-1,385
-303
-736
-1,366
-293
-578
-1,517
-304
-649
-1,636
-335
-592
-1,789
-347
-251
-564
-1,087
-425
-592
-1,025
-626
-553
-1,053
-801
-640
-1,071
-812
-636
-1,089
25
26
27
(*)
1
(*)
28
67
68
44
46
19
16
29
3
-89
137
-6
-83
135
-6
-84
108
-6
-91
113
30
31
32
(*)
-6,660
-7,173
1
1
_9
—2
—2
93
51
74
28
41
-2
-127
222
-3
-133
187
-6
-128
208
-6
-129
163
—6
-133
179
-18
89
-18
73
-18
93
-19
65
-19
86
—2
-83
153
-6,147
-3,179
-5,253
-498
-4,042
-3,761
-2,326
-5,041
-3,845
-3,116
-1,358
890
-183
-2,703
-577
33
61
-375
-175
-186
205
—61
375
175
186
205
-61
-375
-175
-186
-205
34
35
36
37
38
45
-104
124
25
22
27
88
-39
71
—16
74
13
113
—92
165
41
14
-63
81
-4
-2
43
37
3
22
18
27
-5
-6,131
146
-1,102
-1,464
2,782
-689
-1,548
-570
-5,500
-1,786
-1,046
635
198
871
-1,821
-325
-3,851
-1,462
-985
n.a.
-3,758
392
-695
-1,394
-3,710
5,589
-3,303
-1,474
-1,404
4,883
6,339
9,623
9,974
8,810
(15)
(15)
(15)
) „
(*)
55
75
46
-61
375
175
186
-205
-14
-28
18
-4
28
— 18
28
18
-6
33
-37
24
1
16
9
51
1
27
25
16
17
1
87
—42
122
6
2,304
-1,104
-659
-612
-5,058
-1,487
-1,032
498
3,758
1,402
-1,290
-289
-3,102
-690
-652
n.a.
-1,325
50
-413
-30
522
380
-648
11
-382
-187
31
159
-2,940
-172
-530
20
-2,061
4,679
-3,037
3,935
-1,760
-932
779
-385
-2,257
608
47
2,478
5,537
6,072
5,862
4,573
1,980
644
3,281
3,882
4,289
48
(15)
(15)
(15)
(15)
(15)
(15)
(15)
(15)
(15)
(15)
(15)
17
(*)
-388
-640
-356
n.a.
53
-43
32
29
-19
-25
-6
13
-6
-21
98
-12
-3
14
(15)
(15)
(15)
(15)
(15)
(15)
(15)
(15)
(15)
(15)
(15)
(15)
(15)
(15)
1,967
1,963
2,226
686
1,050
893
214
1,012
(15)
(15)
(15)
(15)
615
1,276
(15)
1,360
586
(15)
1,284
1,159
(15)
1,577
(15)
(15)
(15)
(15)
(15)
(15)
(15)
(15)
155
-383
666
-50
64
196
8,593
253
n.a.
157)244
-13
1,678
-366
15
(*)
71
1,617
625
388
15
3,311
637
-631
15
7,434
15
551
208
993
-340
15
484
15
4,117
185
-226
481
296
15
4,843
15
4,997
36
n.a.
15
4,330
15
770
^-990
-40
-157
143
-336
15
2,236
15
3,496
15
39
40
41
42
43
44
45
46
(49
J50
51
I
152
53
54
55
(
227
n.a.
56
57
58
59
60
3,036
61
62
457
-8,177
-859
-8,817
-2,289
1,487
-7,857
174
-9,130
-1,070
-1,400
-115
-755
42
-1,534
63
1,479
714
809
807
-174
-1,391
-1,337
-1,340
-1,463
-3,585
-3,504
-3,510
-249
-1,683
-1,650
-1,655
-2,280
-2,519
-2,472
-2,478
3
-275
-205
-205
-504
-61
-6
-6
-1,127
-1,280
-1,205
-1,205
-380
-623
-577
-577
-561
-454
-387
-387
1,333
710
780
778
271
-1,464
-1,416
-1,419
-472
-2,389
-2,338
-2,343
114
-1,240
-1,216
-1,221
-1,681
-2,194
-2,172
-2,178
64
65
66
67
70
June 1984
SURVEY OF CURRENT BUSINESS
Table 10.—U.S. international
[Millions
Canada
Eastern Europe
(Credits +; debits -)1
Line
I
1 Exports of goods and services 2
2
3
Merchandise, adjusted, excluding military 3
Transfers under U.S. Military agency sales contracts
4
5
6
Travel
Passenger fares
Other transportation
7
8
9
10
Fees and royalties from affiliated foreigners
Fees and royalties from unaffiliated foreigners
Other private services ....
U.S. Government miscellaneous services
11
12
13
Receipts of income on U.S. assets abroad:
Direct investment
Other private receipts
U.S. Government receipts
.
II
III
p
IV
l
1984
1983
1984
1983
I
II
III
IV
IP
950
787
553
1,271
1,130
13,942
16,108
15,146
16,180
17,699
806
618
396
1,098
968
9,882
28
11,670
37
10,526
36
11,735
41
12,967
25
844
858
864
602
930
49
55
65
74
73
189
209
203
242
193
259
14
160
34
249
14
158
3
240
14
162
3
278
14
164
2
1,358
1,724
11
1,522
1,608
12
1,449
1,664
13
5
22
2
4
23
4
4
23
1
4
22
1
5
21
2
243
15
164
11
64
4
63
20
59
5
59
12
58
3
949
1,610
7
1,328
1,529
11
14 Transfers of goods and services under U.S. military grant programs net
15 Imports of goods and services
16
17
Merchandise, adjusted, excluding military 3
Direct defense expenditures
18
19
20
Travel
Passenger fares
Other transportation
21
22
23
24
25
26
27
344
394
494
429
553
13,577
-15,628
-14,996
-16,470
-18,059
292
-412
(*)
-359
(*)
480
(*)
-308
(*)
-1
-12,513
-34
13998
-69
-12,807
-66
-15,041
-68
-16,692
43
-528
269
-4
-30
-32
-7
-5
-216
-1,103
-313
-30
33
33
40
46
128
-182
-168
-190
Fees and royalties to affiliated foreigners
Fees and royalties to unaffiliated foreigners
Private payments for other services
U.S. Government payments for miscellaneous services
(*)
(*)
-4
14
-4
_fj
-4
12
(*)
-4
10
-84
-3
-85
26
104
-3
-85
-73
-89
-3
89
-8
-81
-3
93
-9
-88
-3
-111
-7
Payments of income on foreign assets in the United States:
Direct investment
Other private payments
U.S. Government payments..
-5
-5
(*)
-6
-7
-7
-31
-377
80
-75
-425
87
-76
490
-98
-114
458
-102
110
-522
-94
9
-122
28 U.S. military grants of goods and services, net
29 Unilateral transfers (excluding military grants of goods and services) net
-30
39
-38
-37
-35
-45
-42
26
-39
-35
30
31
32
-8
-6
-16
-12
-6
21
9
-6
22
_7
-6
-24
-7
-9
-20
-62
16
-61
19
-61
35
-62
23
-59
24
143
-33
253
54
-72
4,262
-2,696
-1,258
530
2,897
173
-33
45
35
23
-46
(*)
8
54
9
154
51
3
-176
19
-10
10
-163
28
-16
24
20
-56
65
8
1
3
30
25
8
3
-9
14
-2
-1,202
884
-397
-147
226
526
93
-20
-833
1,287
-2,899
-1,342
-60
n.a.
-1,497
U.S. Government grants (excluding military grants of goods and services)
U.S. Government pensions and other transfers
Private remittances and other transfers
33 U.S. assets abroad, net (increased/captial outflow ( — ))
34
35
36
37
38
U.S. official reserve assets,net 4
Gold
Special drawing rights
Reserve position in the International Monetary Fund
Foreign currencies
39
40
41
42
U.S. Government assets, other than official reserve assets, net
U.S. loans and other long-term
assets
Repayments on U.S. loans 5
U.S. foreign currency holdings and U S short-term assets net
43
44
45
46
47
U.S. private assets, net..
Direct investment
Foreign securities
U.S. claims on unaffiliated foreigners reported by U.S. nonbanking concerns...
U.S. claims reported by U S banks not included elsewhere
48 Foreign assets in the United States, net (increase/capital inflow ( + ))
49
50
51
52
53
54
55
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 elsewhere
Other foreign official assets 9
56
57
58
59
60
Other foreign assets in the United States, net
Direct investment
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.
U.S. liabilities reported by U.S. banks, not included elsewhere
,
61
1
\
30
-1
299
45
82
-1
4
4
2
3
294
-1
7
38
(*)
n.a.
82
4211
-85
-440
-337
3 349
-2,724
536
(*)
26
4
-229
121
35
123
-3
2,797
2,354
483
514
1,709
801
52
-116
282
-497
(15)
(15)
(15)
4
-4
-1
(*)
15
(15)
(15)
(15)
(15)
(15)
(15)
(15)
(15)
(15)
(*)
(*)
15
(*)
11
21
is 112
-982
( )
-10
15
-52
9
-8
-223
4
15
121
15
(15)
(14)
725
-334
-1,129
(14)
(14)
(14)
(14)
-2
6
-6
-14
(14)
(14)
(14)
(14)
1,996
-327
2,406
204
795
9
(14)
599
231
(14)
(14)
(14)
(14)
343
-170
308
72
272
19
352
482
673
n.a.
(14)
(14)
(14)
(14)
(14)
-468
1,145
-96
653
488
577
549
542
-2,631
365
319
319
-2,328
480
438
438
-2,281
149
123
123
(15)
\
1
1
n.a.
15
-3
)
2
(14)
2,207
116
62 Allocations of special drawing rights
63 Statistical discrepancy, and transfers of funds between foreign areas, net (sum
of above items with sign reversed).
64
65
66
67
Memoranda:
Balance on merchandise trade (lines 2 and 16)
Balance on goods and services (lines 1 and 15) 10
Balance on goods, services, and remittances (lines
65, 31, and 32)
Balance on current account (lines 65 and 29) 10
See footnotes on page 63.
-204
-442
-310
514
606
584
576
310
393
366
354
-16
59
31
22
739
842
812
805
-714
-3,306
-290
329
-329
1,583
-3,725
361
-396
-396
71
SURVEY OF CURRENT BUSINESS
June 1984
Transactions, by Area—Continued
of dollars]
Latin American Republics and Other Western Hemisphere
1983
I
13,821
Australia, New Zealand, and South Africa
Japan
1984
II
III
IV
IP
13,560
15,147
14,668
15,086
I
II
7,052
III
8,046
7,586
IP
IV
8,743
1984
1983
1984
1983
I
8,229
2,225
IV
III
II
2,665
2,578
Line
IP
2,510
3,023
1
2
3
6,198
29
6,155
36
6,767
56
6,461
130
6,880
62
4,728
101
5,208
118
5,597
129
6,144
72
5,591
79
1,431
269
1,844
42
1,653
42
1,656
34
1,949
59
862
144
392
939
157
440
1,090
184
422
835
109
377
790
143
394
293
158
401
257
232
469
348
135
498
230
175
508
362
193
517
73
40
99
121
62
103
131
.63
111
63
66
103
84
45
108
4
5
6
110
25
292
16
118
25
293
23
129
25
285
26
156
25
302
14
103
26
325
18
96
123
60
6
105
124
62
5
88
126
63
3
98
127
61
5
86
129
58
5
93
19
56
3
84
18
58
2
96
17
59
2
107
17
60
1
93
18
63
1
7
8
9
10
155
5,372
226
-208
5,428
154
368
5,623
173
375
5,805
79
401
5,869
76
291
741
53
247
716
43
190
818
51
j
465
812
45
346
846
18
-23
156
8
153
171
8
231
168
5
204
189
10
376
222
5
11
12
13
7
14
5
29
g
(*)
-14,687
-16,086
-16,257
-16,822
-18,690
-11,095
-11,865
-12,469
-14,281
-15,442
-1,642
-1,745
-1,782
-2,126
-1,855
15
-9,461
-58
-10,771
-50
-10,538
-81
-11,097
-125
-12,402
-128
-9,294
-306
-9,822
-309
-10,172
-332
-12,019
-366
-12,999
-354
-1,134
-10
-1,328
-10
-1,287
-15
-1,568
-9
-1,259
-9
16
17
-1,406
-114
-403
-1,362
-131
-447
-1,464
-146
-487
-1,285
-78
-438
-1,533
-126
-468
-42
-43
-440
-98
-81
-523
-89
-73
-561
-73
-40
-577
-66
-54
-625
-163
-47
-97
-57
-78
-102
-107
-101
-107
-191
-66
-92
-218
-59
-100
18
19
20
-4
-3
-421
-77
23
-2
-426
-80
24
-2
-412
-97
17
-2
-430
-79
-5
-3
-438
-74
57
-9
-30
-22
38
-9
-28
-7
33
-10
-27
-10
26
-10
-28
-8
25
-11
-31
-9
-1
-1
-11
-19
-2
-2
-11
-9
1
-2
-11
-12
-1
-1
-11
-10
-1
-1
-11
-6
21
22
23
24
-58
-2,613
-68
-81
-2,692
-68
-30
-2,959
-65
-116
-3,130
-60
-99
-3,345
-70
-199
-241
-526
-208
-275
-543
-371
-284
-572
-287
-296
-602
-410
-307
-601
-17
-26
-117
-13
-26
-107
-3
-26
-112
-9
-27
-140
3
-30
-163
25
26
27
-8
-12
-27
-4
-15
-15
-14
-15
-22
29
(*)
(*)
-4
-9
(*)
-4
-10
(*)
-6
-16
30
31
32
-1,129
-572
-445
_7
— 14
5
-29
—8
(*)
-326
-347
-417
-417
-386
-2
-128
-73
-126
141
-74
-131
-186
-74
-157
-198
-76
-144
— 180
-70
-136
7
-9
-9,267
3,236
3,540
-7,882
1,174
1,168
160
765
10
10
1,168
160
765
-10
10
260
-374
603
31
10
-481
480
11
-136
—661
536
-10
-369
-555
192
-6
-411
—486
185
-110
-10,695
1,295
386
-1,618
-10,759
3,065
1,246
265
457
1,097
2,911
60
47
-711
3,516
-7,504
465
-40
-335
-7,594
6,890
-203
6,529
(15)
}
„,
60
(15)
I
15
-11
-1,565
793
-77
205
277
—33
106
277
33
6
23
28
(*)
5
12
17
(*)
31
33
-1
12
9
7
14
-31
—67
23
13
-16
-38
5
17
22
6
25
2
1
-2
3
(*)
39
40
41
42
236
-209
-553
111
887
-1,176
-205
36
-57
-950
-1,847
-464
204
-43
-1,544
795
-244
300
n.a.
739
-89
327
39
97
-552
236
-216
261
-33
224
-1,113
-247
-404
-15
-447
-594
-39
-7
9
-557
-447
-211
-36
n.a.
-200
43
44
45
46
47
2,150
1,721
1,929
3,232
-1,065
648
156
2,769
-612
48
(15)
(15)
(15)
(15)
(15)
(15)
(15)
-891
185
-1,276
—37
— 35
-106
37
35
21
—8
28
(*)
-16
33
18
(*)
1,575
468
341
n.a.
766
-874
-172
-226
-148
-329
13,842
2,734
1,425
(15)
(15)
(15)
(15)
-138
17
29
-24
-43
(15)
(15)
(15)
(15)
316
-135
337
78
54
(15)
(15)
(15)
(15)
108
25
248
-208
67
53
251
232
194
n.a.
15
12
-16
(*)
-4
-11
-6
-21
(15)
-125
28
-2
-10
98
15
I
1
-9
(15)
6,599
14
6,043
15
13,304
15
2,530
-78
143
15
1,182
15
(15)
(15)
108
-42
-76
-99
-153
98
102
99
93
(15)
(15)
(15)
(15)
(15)
(15)
(15)
(15)
(15)
265
430
497
25
41
20
99
-11
(15)
(15)
(15)
(15)
(15)
(15)
(15)
(15)
88
190
381
61
565
-47
269
n.a.
96
-7
-52
-45
52
-4
68
-21
n.a.
15
1,056
15
1,057
15
2,566
15
-1,027
15
562
15
28
15
2,507
{
49
50
51
52
53
54
55
! 56
695
(15)
1,069
33
34
35
36
37
38
15
-673
57
58
59
60
61
62
3,569
-160
-8,543
-3,388
81
3,510
1,953
3,990
5,201
3,192
575
-1,759
191
-2,565
-89
63
-3,263
-866
-1,064
-1,192
-4,616
-2,526
-2,732
-2,873
-3,771
-1,110
-1,341
-1,527
-4,636
-2,154
-2,373
-2,571
-5,522
-3,603
-3,810
-3,989
-4,566
-4,043
-4,045
-4,045
-4,614
-4,279
-4,287
-4,287
-4,575
-4,423
-4,435
-4,435
-5,875
-5,538
-5,565
-5,565
-7,408
-7,213
-7,217
-7,217
297
583
568
568
516
920
905
905
366
796
782
782
88
383
369
369
690
1,168
1,147
1,146
64
65
66
67
72
SURVEY OF CURRENT BUSINESS
June 1984
Table 10.—U.S. International Transactions, by Area—Continued
[Millions of dollars]
International organizations and unallocated 13
Other countries in Asia and Africa
Line
(Credits +; debits -)
l
1983
1 Exports of goods and services 2
III
IV
I"
18,466
17,994
18,409
17,409
17,885
11,025
1,970
11,250
1,890
10,830
1,601
Travel
Passenger fares
Other transportation
208
65
813
191
88
784
314
141
842
128
79
841
251
77
810
Fees and royalities from affiliated foreigners
159
55
474
49
224
55
439
77
169
55
428
64
213
56
425
53
182
57
454
66
1,105
1,128
505
1,257
1,131
515
1,399
1,228
775
714
1,264
497
1,612
1,286
659
4
5
6
Other private services
U S Government miscellaneous services
Receipts of income on U.S. assets aboard:
Direct investment
Other private receipts ....
U S Government receipts
.
16
17
D' pet dpfp <?P P DP rTtureq
18
19
20
Travel
Passenger fares
Other transportation
21
22
23
24
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:
25
26
27
Other private payments
U S Government payments
30
31
32
U.S. Government grants (excluding military grants of goods and services)
U S Government pensions and other transfers
33 U.S assets abroad, net (increase/capital outflow ( ))
34
35
36
37
38
U S official reserve assets net 4
Gold
Special drawing rights
Reserve position in the International Monetary Fund
39
40
41
42
U S Government assets other than official reserve assets net
U.S. loans and other long-term assets
Repayments on U.S. loans 5
.
43
44
45
46
47
U S private assets net
Direct investment
Foreign securities
U.S. claims on unaffiliated foreigners reported by U.S. nonbanking concerns..
U S claims reported by U S banks not included elsewhere
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 elsewhere
Other foreign official assets 9
56
57
58
59
60
Other foreign assets in the United States net
Direct investment
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.
U S liabilities reported by U S banks not included elsewhere
61
992
1,125
32
(*)
33
(*)
161
184
132
160
-17
19
-21
-20
-6
252
2
260
56
267
6
273
1
318
2
226
170
68
208
208
294
130
196
73
186
235
125
201
230
223
('*')
157
10
20
41
10
-18,500
-22,466
-22,166
21,928
-13,257
-837
-14,164
805
-18,004
-843
17770
-816
-17,888
-696
-231
61
—549
-391
-91
-568
395
-116
-639
-399
-105
-633
-333
-76
-672
-19
-11
-19
—279
-17
-224
-18
—238
—260
—252
40
1
-96
-139
87
1
-103
-156
56
1
-108
150
69
1
-113
-144
244
-1
-118
-137
-22
-64
-22
-26
-22
-26
-23
—385
24
—59
7
-716
-1,557
g
-747
-1,552
2
-762
1506
36
-820
1471
35
835
-1,450
58
-79
-195
-90
-187
-103
-163
-86
-174
-614
-214
566
-612
-951
-612
-20
-10
-20
-41
-10
-1,024
-1,156
-1,350
-2,290
-1,423
-115
-198
-189
-138
-151
-696
-84
-243
-830
-79
246
-1,001
-81
-269
-1,927
-79
-284
-1,046
-82
-296
-115
-188
-189
-138
-151
-3,293
-2,966
-2,368
1494
-466
-3,209
1,597
-713
-1,386
-590
-2,237
-515
298
-1,451
-426
-98
-2,139
-303
-212
-209
-88
545
1,996
-226
-200
357
-153
-153
-236
-237
1
-286
-286
-222
225
-180
-72
53
1
162
351
-177
101
-299
-347
-436
-1
-144
427
57
19
118
n.a.
-80
1,135
1,085
-41
-422
379
27
-33
21
32
21
27
-33
21
32
2:
1,107
1,118
-61
454
358
(15)
(15)
(15)
139
40
-69
41
-35
n.a.
881
-1,236
313
43
-2,412
1409
107
81
-977
48 Foreign assets in the United States, net (increase/capital inflow ( + ))
49
50
51
52
53
54
55
784
1,224
IP
20
28 U S military grants of goods and services net
29 Unilateral transfers (excluding military grants of goods and services), net
862
IV
III
-17,413
14
15 Imports of goods and services
II
I
11,135
2,099
Merchandise adjusted excluding military
11
12
13
I
II
11,332
2,573
2
3
7
8
9
10
3
1984
1983
1984
200
-812
1233
450
30
1 168
-1,590
383
39
-2,078
94
-195
-5
-1,972
-1,620
381
-67
-14
-1,158
682
703
-935
242
n.a.
1,395
353
15
( )
140
-10
-15
798
1,214
(15)
( )
1
-748
-1,503
679
77
-2,630
15
J
-888
-1,278
399
-10
315
-360
4
98
28
208
128
(15)
(15)
(15)
52
-75
I
164
-126
(15)
(15)
107
-1,853
166
-429
103
15
1,796
15
-2,628
105
1,944
15
-737
(15)
723
3099
9
38
44
34
-3
n.a.
15
(15)
(15)
(15)
53
-721
15
3
(15)
(15)
(15)
929
-616
66
-383
-3,048
(15)
(15)
11
15
1,029
15
1,089
15
-240
15
-426
15
393
62 Allocations of special drawing rights
63 Statistical discrepancy, and transfers of funds between foreign areas, net (sum
of above items with sign reversed).
64
65
66
67
Memoranda:
Balance on merchandise trade (lines 2 and 16)
Balance on goods and services (lines 1 and 15) 10
Balance on goods services and remittances (lines 65 31 and 32)
Balance on current account (lines 65 and 29) 10
3,463
7,258
6,561
8,228
8,980
1,942
98
725
1,905
1925
1,053
725
29
3029
-506
831
-1,662
6979
-4,057
4407
-5,407
6520
-4,758
-5,121
-7,048
-7,058
-4,043
4421
-5,466
248
248
133
33
612
602
414
218
218
28
32
41
41
-97
See footnote on page 63.
Table Wa.—International transactions, by Selected Countries (published annually) is on page 64 of this issue.
-151
513
513
362
June 1984
able data from BEA's survey of establishments and acquisitions of new
U.S. affiliates (the BE-13), however,
indicate that, because of the large
number of transactions involved,
these inflows, although small for any
given affiliate, were large in total
during 1981-83. Therefore, quarterly
estimates of these unreported inflows
were made utilizing BE-13 data on
total outlays to establish or acquire
new U.S. affiliates.
SURVEY OF CURRENT BUSINESS
73
Such outlays would constitute
direct investment capital inflows, and
should be included in the U.S. international transactions accounts, if they
were made directly by foreign parents. (If, instead, they were made indirectly through the parents' existing
U.S. affiliates, and the funds came
from abroad, they would constitute
capital inflows, but the inflows probably would have been reported in the
existing U.S. affiliate's quarterly
report.) The BE-13 survey indicates
that direct outlays by foreign parents
to establish or acquire U.S. affiliates
that did not report in the quarterly
sample survey were $977 million in
1981, $663 million in 1982, and $314
million in 1983. These data were
added to reported direct investment
capital inflows for the 3 years; for any
given affiliate, the data were included
in inflows in the quarter in which the
acquisition or establishment occurred.
Footnotes to U.S. International Transactions Tables l-10a—Continued
Table 8—Continued
4. Bahamas, British West Indies (Cayman Islands), Netherlands Antilles, and Panama.
5. Based on data for Ecuador, Venezuela, Indonesia, and other Asian and African oil-exporting
countries.
6. Includes Eastern Europe and international and regional organizations.
Table 9:
1. Negotiable certificates of deposit issued by banks in the United States are included in banks'
custody liabilities and are separately identified in memorandum line 8. Nonnegotiable certificates
of deposit are included in time deposits.
2. Includes borrowing under Federal funds or repurchase arrangements, deferred credits, and
liabilities other than deposits.
3. Mainly negotiable and readily transferable instruments, excluding U.S. Treasury securities.
4. U.S. Treasury notes denominated in foreign currencies and subject to restricted transferability, that were sold through foreign central banks to domestic residents in country of placement.
None of these notes were outstanding after July 1983.
5. Mainly International Bank for Reconstruction and Development (IBRD), International Development Association (IDA), International Finance Corporation (IFC), Asian Development Bank
(ADB), Inter-American Development Bank (IDS), and the Trust Fund of the International Monetary Fund.
6. U.S.-owned banks are mainly U.S.-chartered banks and Edge Act subsidiaries. U.S. brokers'
and dealers' liabilities may be commingled in some categories. Foreign-owned banks are U.S.
branches and agencies of foreign banks and majority-owned bank subsidiaries in the United
7. Western Europe, Canada, Japan, Australia, New Zealand, and South Africa.
8. Bahamas, British West Indies (Cayman Islands), Netherlands Antilles, and Panama.
9. Based on data for Ecuador, Venezuela, Indonesia, and other Asian and African oil-exporting
countries.
10. Includes Eastern Europe and international and regional organizations.
Table lOa:
For footnotes 1-10 , see table 1.
11. Details not shown separately are included in line 61.
NOTE.—Country data are based on information available from U.S. reporting sources. In some
instances the statistics may not necessarily reflect the ultimate foreign transactor. For instance:
U.S. export statistics reflect country of reported destination; in many cases the exports may be
transshipped to third countries (especially true for the Netherlands and Germany). The geographic breakdown of security transactions reflects country with which transaction occurred but may
not necessarily reflect the ultimate sources of foreign funds or ultimate destination of U.S. funds.
Data for individual countries within EC(6) may not add to the published totals for EC(6) since in
several instances the transactions are regional and in other instances estimates for the group are
not available for each country. In addition, country data may not add to EC(6) totals because of
rounding.
Table 10:
For footnotes 1-10, see table 1.
11. The "European Communities (10)" includes the "European Communities (6)," United Kingdom, Denmark, Ireland, and Greece.
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. Details not shown separately; see totals in lines 49 and 56.
15. Details not shown separately are included in line 61.
By RUSSELL B. SCROLL
The International Investment Position
of the United States in 1983
JL HE net international investment
position of the United States declined
$43.6 billion to $106.0 billion in 1983.
The last decline was in 1977. A shift
to net capital inflows, mainly those
reported by U.S. banks, accounted for
most of the 1983 decline. Net valuation changes largely reflected price
appreciation of U.S. stocks held by
foreigners, which more than offset
price appreciation of foreign stocks
held in U.S. portfolios and other
changes (table I).1
The decline in the net investment
position of the United States in 1983,
as in 1977, partly reflected much
stronger expansion in economic activity in the United States than in other
leading countries. Both the U.S. merchandise trade and current-account
deficits increased sharply, from $36.5
billion and $9.2 billion in 1982, to
$61.1 billion and to $41.6 billion in
1983, respectively. Net recorded capital inflows to offset the current-account deficit occurred in 1983 as the
United States curtailed its lending
and stepped up its borrowing abroad.
High nominal and real U.S. interest
rates facilitated the adjustment, especially in the second half of the year,
when a rise in U.S. rates added to the
foreign demand for dollar assets. In
addition, the dollar appreciated for
the third consecutive year in exchange markets, rising 11 percent on
a trade-weighted basis against 10
major currencies.
The large statistical discrepancy in
the U.S. international transactions accounts for 1979-83 suggests possible
overstatement of the net investment
position, assuming that a significant
part of that discrepancy was unre-
1. Detailed discussions and data on U.S. direct investment abroad and foreign direct investment in the
United States, and additional data on the investment
position, will appear in the SURVEY OF CURRENT Busi74
corded net capital inflows. Thus, the
net U.S. investment position should
be interpreted with caution.
Changes in U.S. Assets Abroad
Bank claims
The most significant change in the
net investment position in 1983 was
related to the shift of U.S. banks to
being net borrowers of funds in international markets from having been
net suppliers of funds in 1980-82. In
addition to the significant dropoff in
claims, which is discussed in this section, there was a large increase in liabilities to foreigners related to the financing of the strong U.S. economic
expansion (see the section on changes
in foreign assets in the United
States).
Claims on foreigners reported by
U.S. banks increased moderately,
$25.4 billion, to $430.0 billion in 1983
(line 19). Claims had increased $111.1
billion in 1982, which included the
initial establishment of International
Banking Facilities (IBFs). The international demand for U.S. bank credit
was constrained in 1983 by limited expansion abroad, the related decline in
world trade, and reduction in some
countries' need for balance of payments financing. In addition, U.S.
banks were reluctant to increase their
exposure in the Eurodollar interbank
market and in Latin America in view
of mounting external debt problems
that surfaced in mid-1982. Most of the
1983 increase in claims was on own
foreign offices in the Caribbean; a
limited amount was on public borrowers in Latin America as the U.S.
share of International Monetary Fund
(IMF) and internationally negotiated
financing arrangements. Mexico received $5.0 billion of the $6.3 billion
increase in U.S. bank claims on Latin
American Republics in 1983. At year-
end, U.S. claims on Latin American
Republics amounted to $110 billion, or
25 percent of U.S. banks' total claims.
(These figures do not include claims
of U.S.-owned banks' overseas offices
on Latin American Republics, which
amounted to $32.0 billion and decreased $7.3 billion in 1983.)
Claims on U.S. banks' own foreign
offices increased $16.7 billion, compared with $30.6 billion in 1982.
Claims on unaffiliated banks and
other foreigners increased $14.7 billion, compared with $76.4 billion.
Banks' claims for domestic customers'
accounts decreased $6.0 billion, compared with an increase of $4.0 billion,
reflecting a drop in Eurodollar certificates of deposit held by U.S. money
market mutual funds.
Foreign securities
Sharply rising foreign stock markets led to record net U.S. purchases
of foreign stocks of $4.0 billion and a
$4.6 billion appreciation in the value
of U.S. holdings (line 17). Exchange
rate losses were $0.9 billion. At yearend, holdings totaled $26.5 billion.
Net U.S. purchases of British, French,
and Swedish stocks were $1.2, $0.4,
and $0.4 billion, respectively; price appreciation added 28 percent to the
value of holdings of European stocks.
U.S. net purchases of Japanese stocks
were $0.9 billion, augmented by a 12percent price appreciation. Additions
to U.S. holdings of Canadian stocks—
the largest position in U.S. portfolios—were limited to $0.5 billion, despite a 26-percent price appreciation.
Net U.S. purchases of foreign bonds
decreased $3.0 billion, to $3.7 billion,
reflecting reduced new bond offerings
in the United States (line 16). At
yearend, holdings totaled $58.3 billion. Lower foreign than U.S. interest
rates, and attractive terms in international bond markets, were contributing factors. U.S. holdings depreciated
June 1984
SURVEY OF CURRENT BUSINESS
$2.0 billion in value. Holdings of Canadian bonds depreciated $0.7 billion
and net purchases declined to $1.1 billion, as Canadians placed issues in
international and their domestic markets. U.S. diversification into Western
European bonds accelerated, favoring
outstanding British bonds. World
Bank issues in the United States
slowed.
75
U.S. direct investment abroad and
other private assets
largely reflecting a drop to $5.0 billion from $9.9 billion in inflows of
funds through finance affiliates in the
Netherlands Antilles. U.S. corporaU.S. direct investment abroad in- tions relied more on internally genercreased $4.6 billion to $226.1 billion, ated funds and equity financing. Reinfollowing last year's $6.8 billion de- vested earnings were up, to $9.1 bilcrease (line 14). Equity capital and in- lion from $6.4 billion. Limited expantercompany account inflows dropped sion abroad raised earnings in a few
to $4.2 billion from $11.1 billion, industrial countries, especially earn-
Table 1.—International Investment Position of the United States at Yearend
[Millions of dollars]
Position, by area
Changes in position in 1983 (decrease (— )>
Western Europe
Attributable to:
Line
Type of investment
PosiPosition
ExTotal
tion
1982 r Capital Price
Other 2 (a+b+ 1983 *
change
flows changes
c+d)
rate l changes
changes
(d)
(a)
(b)
(0
1 Net international investment position of 149,546 -32,232 -8,949
the United States (line 2 less line 20).
2
U.S. assets abroad
838,142 49,490
2,558
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
-2,358
251,948 262,867 173,012 188,967
-328
1378
66
4,434
290
-470
-27
3
-27
10,212
3,304
618
U.S. Government assets, other than
official reserve assets.
U.S. loans
and other long-term
assets 4.
Repayable
in
dollars
Other 5
U.S. foreign currency holdings and
U.S. short-term assets.
74,362
5,013
71
72,684
4,962
70,673
2,011
1,678
4,994
-33
52
688,596
81,722
11,507
5,339
-430
1,795
5,974
4,202
(*)
(*) 2,144 2,077
2,093
10 23,745 27,459
11,148 11,121
5,250 5,025
7,348 11,312
2,093
10
6,289
5,974
4,202
(*)
10,459
10,543
534
639
556
-46
10
4,906 77,590
10,233
10,354
481
578
539
524
13,715 13,971 47,716 52,163
(*)
-46
-25
-10
4,984 75,657
-79 1,933
45 1,722
9,904
330
226
10,071
283
189
481
578
539
524
53
61
17
18
13,273 13,519 46,477 50,965
452 1,239 1,198
442
74
43 1,309 1,412
-963
308
-276
-32
44,568 774,390 241,756
4,605 226,117 99,459
9,239 84,812 17,615
1,590 58,288 10,419
7,649 26,524
7,196
5,333 33,493
8,471
252,877
102,461
23,582
12,898
10,684
9,956
109,190
46,183
40,518
31,625
8,893
5,094
118,221
47,538
43,578
32,003
11,575
6,745
42,568
6,928
3,946
2,302
1,644
1,200
46,516
8,059
4,690
1,871
2,819
1,337
107,933
236,067 248,843 100,242
6
29,831 27,435 639,111 40,624
756 11,966 12,206
1,528
280 11,373 11,236
979
970
476
593
549
9,615 11,821 3,780 3,634
25,391 429,968 116,211
116,878 17,395 20,360 30,494 32,430
195,093 208,831 45,385 51,469
92,888 781,483 321,377
367,823 42,511 50,337 43,281 50,052
139,781 167,604 141,646 145,667
-963
77
-886
-3,922
18
-32
-54
-287
-2
-2
1,660
4,907 193,911
4,412
4,807
-395
197
433
136,932
129,685
7,247
13,651
25,422
-135 17,906
-54
-285
63,467
( <»
2,571
) ">
87,981 587,572 257,910
69,317
2,243
(7)
(7)
2,682
182
(7)
(7)
(*) 2,144 2,077
2,593
(7)
}„ {
(8)
298,506 40,268 47,744
608 17,413
20,489 97,236
-580 -1,898 25,163
13,175
53,550
11,064
13,065 1,271 1,269 741 1,179
67,392 13,210 16,755 994 1,422
9,661 2,556 2,826 1,877 2,206
49,059 280,340
(7)
3. Reflects U.S. Treasury sales of gold medallions; these demonetizations are not included in
international transactions capital flows.
4. Also includes paid-in capital subscription to international financial institutions and outstanding amounts of miscellaneous claims that have been settled through international agreements to
be payable to the U.S. Government over periods in excess of 1 year. Excludes World War I debts
that are not being serviced.
(8)
)- { " 1-
(7)
(8)
(8)
(7)
(7)
80,457 14,481 18,024 1,735 2,601
1. Represents gains or losses on foreign currency-denominated assets due to their revaluation
at current exchange rates.
2. Includes changes in coverage, statistical discrepancies, and other adjustments to the value of
),,
(8)
(7)
66,725
(7)
(7)
501
583
(7)
1 133,339 160,905
8,129 33,941
21,097 114,649
(7)
"
(8)
91,195 11,922 11,608 9,588 11,321
(7)
(
6,669
8,286
81,857
-54
6,442
8,112
166 2,088 1,933
(7)
13,788 14,014 49,025 53,575
541
11,594 133,479
295
r
p
Revised.
Preliminary.
^Includes U.S. gold stock.
'Less than $500,000 (±).
209 33,748
-27 11,121
224 5,025
3,964 11,312
4,949 79,312
6,502 -2,090
6,989 -2,182
-487
92
199
433
Other foreign assets in the United 499,592 76,383 11,937
States.
Direct investment in the United 121,885 11,299
States.
U.S. Treasury securities 10
25,812
8,731
-548
U.S. securities other than U.S. 93,552
8,612 12,485
Treasury securities.
Corporate and other bonds
16,805
2,197 -1,589
Corporate stocks
76,747
6,415 14,074
U.S. liabilities to unaffiliated for- 27,061 -1,318
eigners reported by U.S. nonbanking concerns.
U.S. liabilities reported by U.S. 231,282 49,059
banks, not included elsewhere.
49,308 887,450 258,189
7
25,391
Foreign official asssets in the United 189,004
States.
U.S. Government securities
132,520
U.S. Treasury securities
124,878
Other
7,642
9
Other U.S. Government liabilities .... 13,454
U.S. liabilities reported by U.S. 24,989
banks, not included elsewhere.
Other foreign official assets
18,041
1982
267,622 109,724 118,860 45,268 49,134
2 412
1,196
Foreign assets in the United States
1983
112,167 95,263 31,366 43,300
33,957
11,148
5,250
7,348
43,281
2,558
4,881
7,676
2,558
3,694 -2,027
3,982
4,585
5,333
1982
1983
Other
Latin American
countries,
Republics and
Other Western international
organizations,
Hemisphere
and
1983
unallocated!
1983
1982
1983
1982
Japan
-41 -43,580 105,967 -63,188 -100,201 67,213 68,523 1,987 -918
U.S official reserve assets
Gold
Special drawing rights
Reserve position in the International
Monetary Fund.
Foreign currencies
U.S. private assets
729,823
Direct investment abroad
221,512
Foreign securities
75,573
Bonds
56,698
Corporate stocks
18,875
U.S. claims on unaffiliated foreign- 28,160
ers reported by U.S. nonbanking
concerns.
U.S. claims reported by U.S. banks, 404,578
not included elsewhere.
1982
Canada
(8)
(8)
12,665 13,184
5,853
6,171
(7)
5,685
(7)
7,173
(8)
4,926
(8)
6,394
749
4,936
3,938
817
6,356
3,849
869
4,057
7,626
1,083
5,311
6,621
(7)
(7)
(8)
(8)
5. Includes indebtedness that the borower may contractually, or at its option, repay with its
currency, with a third country's currency, or by delivery of materials or transfer of services.
6. Includes, as part of international and unallocated, the estimated direct investment in shipping companies operating under the flags of Honduras, Panama, and Liberia, and in U.S.-affiliated multinational trading companies, finance and insurance companies, not designated by country.
7. Details not shown separately are included in totals in lines 21 and 28.
8. Details not shown separately are included in line 20.
9. Primarily includes U.S.Government liabilities associated with military sales contracts and
other transactions arranged with or through foreign official agencies.
10. Includes U.S. Treasury notes denominated in foreign currency and subject to restricted
transferability that were sold through foreign central banks to domestic residents in country of
placement. None of these notes were outstanding after July 1983.
76
ings of automotive affiliates in
Canada.
Other claims on unaffiliated foreigners reported by U.S. nonbanking
concerns increased $5.3 billion to
$33.5 billion, following a $6.6 billion
decrease (line 18). In 1982, nonbanking concerns withdrew deposits from
abroad, party to replace the recessioninduced drop in internally generated
funds. As business activity, profits,
and working capital increased strongly in 1983, funds were again placed
abroad, mainly in U.K. and Caribbean
banking centers and in Canada.
U.S. official reserve assets and other
U.S. Government assets
U.S. official reserve assets decreased $0.2 billion to $33.7 billion.
Exchange rate changes decreased reserve assets $1.4 billion; capital flows
increased assets $1.2 billion (line 3).
Drawings of dollars from the IMF by
Latin American countries increased
the U.S. reserve position with the
IMF. Payment of the U.S. share of
the IMF quota increase at yearend of
$0.7 billion in special drawing rights
and $0.3 billion each in German mark
and Japanese yen holdings increased
the U.S. reserve position with the
IMF $1.3 billion. Other declines in
foreign currency holdings reflected redemption of the last of U.S. Treasury
foreign currency notes denominated
in German marks and Swiss francs,
and repayment by Brazil and Mexico
of their drawings under reciprocal
and special currency arrangements
with the United States.
Other U.S. Government assets increased $5.0 billion to $79.3 billion
(line 8). The increase in 1983, as in
1982, was largely Government assistance to developing countries in the
Middle East and capital subscriptions
and contributions to international financial institutions (excluding the
IMF).
Changes in Foreign Assets in
the United States
Bank liabilities
U.S. liabilities to foreigners and
international financial institutions reported by U.S. banks, including U.S.
Treasury securities, increased $57.2
SURVEY OF CURRENT BUSINESS
billion to $314.3 billion (lines 30 and
35). In 1982, when the establishment
of IBF's increased reported liabilities,
these liabilities increased $73.2 billion. A strong dollar, favorable interest rate differentials, and the safe
haven attraction of the United States
were contributing factors. In the
second half of the year, when U.S.
rates rose sharply and increased the
differential with rates abroad, large
bank inflows to finance U.S. economic
expansion and sharply lower bank
outflows to foreigners resulted in U.S.
banks becoming substantial net borrowers from foreigners for the year
for the first time since 1979.
Nearly $25.6 billion of the 1983 increase in liabilities was to U.S. banks'
own foreign offices in the Caribbean
and United Kingdom. U.S. banks
relied on deposits in overeas offices by
nonbank U.S. residents and on net
principal repayments of interbank
Eurocredits by other foreign banks to
finance their drawings from foreign
offices. U.S. liabilities to unaffiliated
and other foreigners increased $23.4
billion; nearly one-half were inflows
from other banks. Holdings of U.S.
Treasury securities increased $8.1 billion as purchasers—especially customers in the United Kingdom, Switzerland, and Japan—were attracted by
rising U.S. interest rates.
U.S. securities
Foreign holdings of JLJ.S. securities
other than U.S. Treasury securities
increased $21.1 billion to $114.6 billion, following an $18.2 billion increase (line 31). Holdings of U.S.
stocks appreciated 18 percent, or
$14.1 billion; net purchases added a
record $6.4 billion (line 33). Exceptional interest in stocks was evident
worldwide as U.S. and foreign stock
markets recovered from lackluster
performances in the 1981-82 recession
years. In 1983, German, Swiss, and
British residents accounted for most
net purchases, whereas in 1980-82—
following removal of outward portfolio investment restrictions in the
United Kingdom in late 1979—British
residents dominated net foreign purchases. Net British purchases dropped
to $1.8 billion in 1983, from $3.1 billion in 1982. Net purchases by Germany were $1.0 billion, up from $0.3 billion; by Switzerland, $1.3 billion,
shifting from sales of $0.6 billion; and
June 1984
by Canada, $1.2 billion, up from $0.2
billion.
Foreign holdings of U.S. corporate
and other bonds increased $0.6 billion
to $17.4 billion (line 32). Rising interest rates led to a $1.6 billion price decline, which partly offset the $2.2 billion in net foreign purchases. German
purchases slowed, while Swiss and
Japanese purchases increased.
Foreign official assets
Foreign official assets in the United
States increased $4.9 billion to $193.9
billion (line 21). Most official placements in the United States were invested in time deposits and U.S.
Treasury bills in 1983. Following reductions in 1982, dollar assets of a
number of industrial countries—including France, Italy, United Kingdom, Canada, and Japan—increased
$10.2 billion. Dollar assets of OPEC
members decreased $8.6 billion, as
revenues were curtailed by falling petroleum demand and weak petroleum
prices in world markets. Dollar holdings of other countries, mostly in
Asia, increased $3.8 billion.
Foreign direct investment in the
United States and other liabilities
Foreign direct investment in the
United States increased $11.6 billion
to $133.5 billion, as equity capital and
intercompany account inflows slowed
for the second consecutive year (line
29). Reinvested earnings increased
slightly in 1983,2 in contrast to a decrease in 1982. The strength of the
dollar and rising U.S. stock prices
tended to limit direct investment inflows.
U.S. liabilities to unaffiliated foreigners reported by U.S. nonbanking
concerns decreased $1.9 billion to
$25.2 billion, mostly to United Kingdom and Caribbean banking centers,
and to countries in Asia (line 34).
Trade payables to Middle East petroleum exporters were reduced and U.S.
businesses repaid some Euromarket
borrowings.
2. Estimates for foreign direct investment in the
United States have been revised to incorporate results
of BEA's recently completed benchmark survey for
1980.
Constant-Dollar Inventories, Sales, and Inventory-Sales Ratios for Manufacturing and Trade
Tables 1, 2, and 3 present constant-dollar inventories, sales, and inventory-sales ratios, respectively, quarterly and monthly. Table 4 presents
quarterly constant-dollar fixed-weighted inventory-sales ratios, i.e., ratios
obtained by weighting detailed industry ratios by 1972 sales. Table 5 presents monthly inventories for manufacturing by stage of fabrication.
Quarterly estimates for 1959 to 1981 were published in the November
1981 SURVEY OF CURRENT BUSINESS. Quarterly estimates for 1980 to 1983,
and monthly estimates for 1983 were published in the September 1983
SURVEY.
Table 1.—Manufacturing and Trade Inventories in Constant Dollars
Seasonally Adjusted, End of Period
Table 2.—Manufacturing and Trade Sales in Constant Dollars
Seasonally Adjusted Total at Monthly Rate
[Billions of 1972 dollars]
[Billions of 1972 dollars]
Manufacturing and trade
1983
1984
IV
I
.. .. 261.6
1984
19 33
Dec.
Nov.
266.8 260.7 261.6
Jan.r Feb. Mar.
262.2 265.6 266.8 269.5
1365 1382 1365 136.5 136.0 137.1 138.2
Manufacturing
Durable goods
Primary metals
Fabricated metals
Machinery except electrical
Electrical machinery
Transportation equipment
Motor vehicles
Other
Other durable goods1
Nondurable goods ....
Food and kindred products
Nonfood
Paper and allied products
Chemicals and allied products
Petroleum and coal products
Rubber and plastic products
Other nondurable goods2
Nov.
Dec.
Jan/ Feb. Mar.
Apr."
169.1 173.5
19 33
19 84
168.8
172.5
174.2
173.0
173.2
174.1
78.0
79.8
78.0
80.0
79.3
79.6
80.4
79.6
444
4.5
44
89
8.3
95
6.7
28
87
442
4.2
45
8.9
8.2
9.8
7.2
26
8.6
44.5
4.2
46
8.9
8.1
10.0
7.3
27
8.8
449
4.4
45
9.4
8.6
9.4
6.8
25
8.7
44.0
4.3
4.4
9.2
8.3
8.9
6.3
26
8.9
91.4
11.3
10.2
21.3
15.9
17.1
4.2
12.9
15.5
92.1
11.5
10.3
21.5
16.0
17.4
4.3
13.1
15.5
93.0
11.6
10.3
21.5
16.2
17.7
4.4
13.4
15.6
93.9
11.9
10.4
21.7
16.3
17.8
4.3
13.5
15.8
Durable goods
Primary metals
Fabricated metals
Machinery, except electrical
Electrical machinery
Transportation equipment
Motor vehicles
Other
Other durable goods1
428
4.3
44
8.6
8.0
89
6.2
26
85
445
4.3
45
9.1
97
7.1
26
87
428
4.3
45
85
7.9
91
6.4
27
85
44.5 45.2
10.9
11.2
33.6 341
4.2
4.2
8.2
8.4
, 3.1 3.1
29
30
15.1 153
44.7
11.0
33.7
4.2
8.2
3.1
30
15.1
44.5
10.9
33.6
4.2
8.2
3.1
2.9
15.1
44.6
11.0
33.6
4.2
8.1
3.1
2.9
15.3
45.0
11.1
33.8
4.2
8.3
3.2
3.0
15.2
45.2
11.2
34.1
4.2
8.4
3.1
3.0
15.3
45.2
10.9
34.2
4.2
8.5
3.2
3.0
15.3
Nondurable goods .
Food and kindred products
Nonfood
Paper and allied products
Chemicals and allied products
Petroleum and coal products
Rubber and plastic products
Other nondurable goods 2
352
11.5
237
3.1
6.3
2.8
2.0
96
352
11.5
238
3.1
6.3
2.8
1.9
96
351
11.4
237
31
6.3
2.8
2.0
95
356
11.6
240
3.1
6.3
2.8
2.1
96
352
11.5
237
3.1
6.3
2.7
1.9
97
35.0
11.4
23.6
3.1
6.3
2.8
1.9
96
35.5
11.5
24.0
3.1
6.2
3.0
2.0
9.6
35.6
11.5
241
3.2
6.5
3.1
2.0
94
570
55.8
56.3
56.6
56.9
57.0
57.9
40.5
41.9
40.2
41.3
42.4
41.5
41.9
42.3
37.2
198
7.6
121
36.4
195
7.9
116
36.8
19.4
7.6
11.8
37.1
19.5
7.7
11.9
36.9
20.0
7.8
12.2
37.2
19.8
7.6
12.1
37.5
20.4
8.1
12.4
18.2
223
11.9
10.4
19.2
228
11.8
11.0
18.1
221
119
10.1
18.6
227
121
10.6
19.2
233
12.0
11.3
18.9
227
11.9
10.7
19.5
22.3
11.4
10.9
19.6
227
11.5
11.2
71.5
68.3
68.9
69.6
71.5
71.5
72.6
50.6
51.8
50.7
51.2
52.4
51.9
51.0
52.1
18.3
103
80
19.0
11 1
79
32.8
99
22.9
182
102
79
32.5
102
223
191
109
81
32.2
99
223
19.3
113
8.0
33.1
101
23.1
19.2
113
7.9
32.7
99
22.8
18.5
106
7.9
32.4
9.8
22.7
190
109
81
33.1
102
230
31.8
145
, 17.3
37.1
7.9
29.2
Durable goods
Auto dealers
Other durable goods
Nondurable goods
Food stores
Other nondurable goods
I
92.0
114
10.3
21.4
16.1
17.4
42
13.2
15.6
68.9
Retail trade
Manufacturing and trade
Manufacturing
1984
IV
91.8
116
10.2
21.7
157
17.0
40
13.0
15.6
, 36.8
194
....
7.6
118
Durable goods
Nondurable goods
Groceries and farm products
Other nondurable goods
139.0
1983
92.0 93.0
114 116
10.3 103
21.4 21.5
161 162
17.4 17.7
42
44
13.2 134
15.6 15.6
56.3
Merchant wholesalers
Apr.p
32.8
152
17.6
38.8
7.8
31.0
31.2 31.8
141 14.5
17.1 17.3
37.1 37.1
7.9
7.9
29.2 29.2
31.8
14.5
17.3
37.8
7.9
29.9
32.9
15.4
17.5
38.6
7.8
30.8
32.8
15.2
17.6
38.8
7.8
31.0
33.3
15.5
17.9
39.2
7.8
31.4
Merchant wholesalers
Durable goods
Nondurable goods
Groceries and farm products
Other nondurable goods
Retail trade
Durable goods
Auto dealers
Other durable goods.
Nondurable goods
Food stores
Other nondurable goods
oo Q
101
22.2
0 O
See footnotes to table 4.
See footnotes to table 4.
Table 3.—Constant-Dollar Inventory-Sales Ratios for Manufacturing
and Trade, Seasonally Adjusted
Table 4.—Fixed-Weight Constant-Dollar Inventory-Sales Ratios for
Manufacturing and Trade, Seasonally Adjusted
[Ratio, based on 1972 dollars]
[Ratio, based on 1972 dollars]
1983 1984
19i33
Nov.
Dec.
1984
1983
Jan.r Feb. Mar. Apr."
IV
I
155
154
154
1.52
1.51
1.54
1.54
1.55
175
173
175
1.71
1.71
172
1.72
1.75
Durable goods
Primary metals
Fabricated metals
Machinery, except electrical
Electrical machinery
Transportation equipment
Motor vehicles .
Other
Other durable goods *
2.15
265
2.31
2.47
2.00
1.96
67
499
1.84
2.09
273
2.27
2.38
1.96
1.82
61
513
1.80
2.14
272
2.29
2.54
1.97
1.87
.62
489
1.84
2.07
2.52
2.32
2.40
1.93
1.83
.63
464
1.79
2.07
2.71
2.25
2.39
1.94
1.75
.59
4.96
1.81
2.07
274
2.23
2.43
1.98
1.74
.59
492
1.76
2.07
262
2.30
2.30
1.90
1.89
.64
525
1.80
2.13
2.77
2.34
2.37
1.96
2.01
.69
5.20
1.77
Nondurable goods
Food and kindred products
Nonfood
Paper and allied products
Chemicals and allied products
Petroleum and coal products
Rubber and plastic products
Other nondurable goods2
1.26
95
1.42
137
129
1 11
1.48
1.59
1.29
98
1.43
136
134
1.10
1.56
1.59
1.27
96
1.42
1.37
131
1.18
1.50
1.59
1.25
.94
1.40
1.35
129
1.10
1.42
1.57
1.27
.96
1.42
1.35
1.29
1.14
1.53
1.58
1.28
.98
1.43
1.36
131
1.15
1.56
1.59
1.28
.97
1.42
1.36
135
1.03
1.52
1.59
1.27
.95
1.42
1.33
1.31
1.04
1.50
1.63
Manufacturing and trade
Manufacturing
Merchant wholesalers
Durable goods
Nondurable goods
Groceries and farm products
Other nondurable goods
Retail trade
Durable goods
Auto dealers
Other durable goods
Nondurable goods
Food stores
Other nondurable goods
See footnotes to table 4.
..
1.39
1.36
1.39
1.36
1.33
1.37
1.36
1.37
202
87
.64
1.14
194
87
.65
1.11
201
88
.66
1.14
1.98
.86
.63
1.11
1.93
.84
.64
1.05
1.96
.88
.66
1.14
1.91
.89
.67
1.11
1.91
.90
.70
1.11
1.36
1.38
1.35
1.34
1.33
1.38
1.40
1.39
174
1.40
217
115
.78
132
173
1.37
222
1.18
.78
136
1.72
1.37
216
1.14
.78
131
1.67
1.33
213
1.15
.80
131
1.65
1.28
2.17
1.14
.78
1.30
1.72
1.37
2.23
1.18
.79
1.35
1.77
1.43
2.22
1.20
.79
1.37
1.75
1.42
2.19
1.18
.77
1.37
II
Manufacturing and trade
Manufacturing
Durable goods
Nondurable goods
m
1984
IV
I
1 62
160
156
1.87
1.83
1.77
1.77
2.34
1.31
2.28
1.31
2.18
1.28
2.16
1.31
1 55
Merchant wholesalers
1.49
1.46
1.43
1.38
Durable goods
Nondurable goods
2.22
89
2.18
87
2.10
88
2.00
87
1.30
1.31
1.30
1.33
1.70
1 10
1.71
1 11
1.72
110
1.74
112
Retail trade
Durable goods
Nondurable goods
'Revised.
" Preliminary.
1. Includes lumber and wood products; furniture and fixtures; stone, clay, and glass products;
instruments and related products; and miscellaneous manufacturing industries.
2. Includes tobacco manufacturers; textile mill products; apparel products; printing and
publishing; and leather and leather products.
NOTE.—Manufacturing inventories are classified by the type of product produced by the
establishment holding the inventory. Trade inventories are classified by the type of product sold
by the establishment holding the inventory.
Table 4: The I-S ratios shown in this table were obtained by weighting detailed industry I-S
ratios by 1972 sales. For manufacturing, 21 industries were used; for merchant wholesalers, 20
kinds of business; and for retail trade, 8 kinds of business.
78
SURVEY OF CURRENT BUSINESS
June 1984
Table 5.—Manufacturing Inventories by Stage of Fabrication in Constant Dollars, Seasonally Adjusted End of Period
[Billions of 1972 dollars]
1983
1984
1984
IV
Apr."
Mar.
Feb.
Jan/
Dec.
Nov.
MATERIALS AND SUPPLIES
47.9
48.4
47.6
47.9
48.0
48.4
48.4
48.3
Durable goods
Primary metals
Fabricated metals
Machinery, except electrical
Electrical machinery
Motor vehicles
Other transportationl equipment
Other durable goods
29.2
4.4
4.3
6.3
4.5
2.1
2.3
5.4
29.5
4.3
4.3
6.5
4.5
2.2
2.3
5.3
29.1
4.4
4.3
6.4
4.4
2.0
2.2
5.4
29.2
4.4
4.3
6.3
4.5
2.1
2.3
5.4
29.2
4.3
4.3
6.4
4.4
2.1
2.3
5.3
29.4
4.3
4.4
6.4
4.5
2.2
2.3
5.3
29.5
4.3
4.3
6.5
4.5
2.2
2.3
5.3
29.6
4.4
4.4
6.5
4.5
2.1
2.3
5.4
Nondurable goods
Food and kindred products
Paper and allied products
Chemicals and allied products
Petroleum and coal products
Rubber and plastic products
Other nondurable goods 2
18.7
4.3
2.2
3.2
.9
1.2
7.0
18.9
4.2
2.3
3.3
.9
1.2
7.1
18.5
4.1
2.2
3.2
.8
1.1
7.0
18.7
4.3
2.2
3.2
.9
1.2
7.0
18.8
4.3
2.2
3.2
.9
1.1
7.0
19.0
4.4
2.3
3.2
.9
1.2
7.1
18.9
4.2
2.3
3.3
.9
1.2
7.1
18.8
4.1
2.3
Manufacturing
1.2
7.0
FINISHED GOODS
Manufacturing
41.6
42.1
42.2
41.6
41.5
41.7
42.1
42.4
Durable goods
Primary metals
Fabricated metals
Machinery, except electrical
Electrical machinery
Motor vehicles
Other transportation1equipment
Other durable goods
23.0
3.0
2.6
6.2
3.3
.7
1.4
5.8
23.0
3.1
2.6
6.0
3.3
.7
1.4
5.9
23.3
3.2
2.6
6.4
3.2
.7
1.4
5.8
23.0
3.0
2.6
6.2
3.3
.7
1.4
5.8
22.9
3.0
2.6
6.2
3.2
.7
1.3
5.8
23.0
3.1
2.6
6.2
3.2
.7
1.3
5.8
23.0
3.1
2.6
6.0
3.3
.7
1.4
5.9
23.3
3.2
2.5
6.1
3.4
.7
1.4
5.9
Nondurable goods
Food and kindred products
Paper and allied products
Chemicals and allied products
Petroleum and coal products
Rubber and plastic products
Other nondurable-goods 2
18.7
5.7
1.5
3.6
1.6
1.3
5.0
19.1
6.0
1.5
3.8
1.6
1.3
5.0
18.9
5.9
1.5
3.6
1.6
1.3
4.9
18.7
5.7
1.5
3.6
1.6
1.3
5.0
18.6
5.8
1.5
3.5
1.6
1.3
5.0
18.7
5.8
1.5
3.6
1.7
1.3
4.9
19.1
6.0
1.5
3.8
1.6
1.3
5.0
19.1
5.8
1.5
3.8
1.7
1.3
5.0
46.9
47.7
46.7
46.9
46.5
47.0
47.7
48.3
4.0
3.4
8.8
8.3
1.4
9.5
4.4
40.5
4.1
3.4
9.0
8.4
1.5
9.7
4.4
39.4
4.0
3.4
8.9
8.1
1.4
9.4
4.3
4.0
3.4
8.8
8.3
1.4
9.5
4.4
4.0
3.3
8.7
8.2
1.4
9.3
4.3
39.8
4.1
3.3
8.9
8.3
1.5
9.4
4.4
40.5
4.1
3.4
9.0
8.4
1.5
9.7
4.4
41.0
4.3
3.4
9.1
8.5
1.5
9.8
4.4
7.1
.9
.5
1.4
.6
.5
3.2
7.2
1.0
.5
1.4
.7
.5
3.3
7.3
.9
.5
1.4
.7
.5
7.1
.9
.5
1.4
.6
.5
3.2
7.2
1.0
.5
1.4
.7
.5
3.3
7.2
1.0
.5
1.4
.7
.5
3.2
7.2
1.0
.5
1.4
.7
.5
3.3
7.3
1.0
.5
1.4
.7
.5
WORK-IN-PROCESS
Manufacturing
Durable goods
Primary metals
Fabricated metals
Machinery, except electrical
Electrical machinery
Motor vehicles
Other transportation1equipment
Other durable goods
Nondurable goods
Food and kindred products
Paper and allied products
Chemicals and allied products
Petroleum and coal products
Rubber and plastic products
Other nondurable goods 2
See footnotes to table 4.
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80
SURVEY OF CURRENT BUSINESS
June 1984
Subject Guide
January-June Issues of Volume 64 (1984)
Articles and "Business Situation" sections 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
Pollution Abatement and Control Expenditures, 197282. Kit D. Farber, Frederick J. Dreiling, Gary L. RutFarm
ledge. 2-22.
Farm Product and Income. 1-11.
Profits
GNP by industry
Corporate Profits. Fourth Quarter 1983, 3-4; Year 1983,
Gross Product by Industry, 1983. Milo O. Peterson. 4-58.
4-9; First Quarter 1984, 5-2 and 6-3.
Government transactions
Anatomy of a Federal Government Deficit, Fiscal Year
1983. Joseph C. Wakefield. 3-19.
Federal Budget Developments. Joseph C. Wakefield. 422.
Federal Fiscal Programs. Joseph C. Wakefield, Richard
C. Ziemer. 2-9.
Federal Personal Income Taxes: Liabilities and Payments, 1980-82. Thae S. Park. 4-56.
Government Sector. 3-4 and 5-2.
Personal Income and Adjusted Gross Income, 1980-82.
Thae S. Park. 4-53.
State and Local Government Fiscal Position: An Alternative Measure. David J. Levin. 3-23.
State and Local Government Fiscal Position in 1983.
David J. Levin. 1-30.
Input-output
Input-Output Structure of the U.S. Economy, 1977. Interindustry Economics Division. 5-42.
Inventories and sales
Manufacturing and Trade Inventories and Sales in Constant Dollars. 3-67; 6-77.
Motor vehicles
Motor Vehicle Developments. 3-3; 6-2.
National income and product accounts (NIPA 's)
Improved Adjustments for Misreporting of Tax Return
Information Used to Estimate the National Income
and Product Accounts, 1977. Robert P. Parker. 6-17.
National Income and Product Accounts: Preliminary Revised Estimates, 1977. Gerald F. Donahoe. 5-38.
Revisions. Fourth Quarter of 1983, 2-1 and 3-4; First
Quarter of 1984, 5-1.
Underground Economy: An Introduction. Carol S.
Carson. 5-21.
Plant and equipment expenditures
Plant and Equipment Expenditures. Eugene P. Seskin,
J. Steven Landefeld. 1984, 1-26; First and Second
Quarters and Second Half of 1984, 3-26; Four Quarters of 1984, 6-26.
Pollution abatement and control
Plant and Equipment Expenditures by Business for Pollution Abatement, 1983 and Planned 1984. William J.
Russo, Jr., Gary L. Rutledge. 6-31.
Reconciliation and other special tables
Command Over Goods and Services. 3-18; 6-16.
Cyclically Adjusted Federal Receipts, Expenditures, Surplus or Deficit, and Debt. 3-18; 5-10.
National Defense Purchases of Goods and Services. 2-8;
5-9.
Reconciliation of BEA Compensation and BLS Earnings.
2-8; 5-9.
Reconciliation of Net Exports and Balance on Goods and
Services. 3-18; 6-16.
INTERNATIONAL
Balance of payments
International Travel and Passenger Fares, 1983. Joan E.
Bolyard. 5-11.
U.S. International Transactions. Fourth Quarter and
Year 1983, Christopher L. Bach, 3-38; First Quarter
1984, Russell C. Krueger, 6-35.
Foreign investment in the United States
U.S. Business Enterprises Acquired or Established by
Foreign Direct Investors in 1983. R. David Belli. 5-16.
Investment position
International Investment Position of the United States
in 1983. Russell B. Scholl. 6-74.
Reconciliation and other special tables
Command Over Goods and Services. 3-18; 6-16.
Reconciliation of Net Exports and Balance on Goods and
Services. 3-18; 6-16.
U.S. investment abroad
Capital Expenditures by Majority-Owned Foreign Affiliates of U.S. Companies, 1984. Ralph Kozlow. 3-32.
REGIONAL
Personal income
County and Metropolitan Area Personal Income, 198082. Regional Economic Measurement Division. 4-30.
Regional Nonfarm Wages and Salaries Thus Far in the
Recovery. Robert Bretzfelder, Howard Friedenberg. 425.
State Personal Income. 1-35; 4-27.
U.S. GOVERNMENT PRINTING OFFICE : 1984 0 - 445-525
CURRENT BUSINESS STATISTICS
THE STATISTICS here update series published in BUSINESS STATISTICS: 1982, a statistical supplement to the SURVEY OF CURRENT BUSINESS. That volume
(available from the Superintendent of Documents for $8.00, stock no. 003-010-00124-1) provides a description of each series, references to sources of earlier
figures, and historical data as follows: For all series, monthly or quarterly, 1979 through 1982, annually, 1961-82; for selected series, monthly or quarterly,
1961-82 (where available).
The sources of the series are given in BUSINESS STATISTICS: 1982; they appear in the main methodological note for each series, and are also listed
alphabetically on pages 135-136. Series originating in Government agencies are not copyrighted and may be reprinted freely. Series from private sources are
provided through the courtesy of the compliers, and are subject to their copyrights.
Unless otherwise stated in footnotes below, data
through 1982 and methodological notes are as
shown in BUSINESS STATISTICS: 1982
1982
1983
1984
1983
Apr.
Annual
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
GENERAL BUSINESS INDICATORS
PERSONAL INCOME BY SOURCE
Seasonally adjusted, at annual rates:
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 ppnsumption expenditures
do....
i
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 saving as percentage of disposable
personal income §
percentDisposable 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
Federal Reserve Board Index of Quantity Output
Not Seasonally Adjusted
Total index
1967—100..
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....
See footnotes at end of tables.
25786
1,568.1
509.2
383.8
378.8
374.1
306.0
1566
215
874
2742 1 26890 2 719 3 27326 27476 27564 27816 28125 28335 28596 '2 906 8 '2 928 0 '2 943 7 '2 961 0 29788
1,664.6 1,632.1 1,652.2 1,660.9 1,673.5 1,680.5 1,691.8 1,710.6 1,715.3 1,726.0 1,748.7 1,757.1 '1,763.4 '1,784.9 1,793.5
529.7
546.7
550.5
543.1
517.1
568.5 '569.0 '577.0
564.0
552.9
537.0
533.3
527.5
522.0
579.6
402.8
416.0
413.3
405.8
401.2
3935
3975
4336 '4357 '4414
4297
4216
4195
4085
4420
408.1
408.0
399.8
400.0
397.2
390.7
4257
'417.0 '422.1
414.6
414.3
411.8
397.5
394.8
3968
4247
411.5
4445
4366 '4436
4348
4327
425.2
419.6
411.3
402.4
4082
4276
4155
414.1
340.7 '342.2
339.3
330.6
329.2
326.2
343.6
337.7
333.7
332.1
331.1
326.1
324.7
321.9
327.1
173.4
191 1 '1932
1826
1952
1890
1869
1849
1806
1784
1722
1681
1701
1763
1743
209
1076
22 1
103 1
214
1066
194
1090
166
1099
149
1109
150
1130
207
1142
238
1143
304
1150
476
1199
495
'1218
465
'1225
'312
'1242
308
1248
49.9
66.4
3662
374.5
112.0
25276
57.7
56.7
56.0
56.2
54.8
57.4
57.2
57.0
56.5
55.8
55.3
55.0
54.6
54.8
50.8
773
770
762
751
723
716
695
70.5
694
741
734
729
702
690
709
3663
4137
3783
3752
3594
3569
3840 r3899 '3962 '4029 '4084
3809
370 2
3644
3550
406.7
403.6
416.5
414.9
413.1
411.3
412.4
402.0
409.8
401.9
403.5
402.7
406.7
411.1
402.2
119.5
128.7
122.2
122.4
120.1
119.5
117.6
118.8
130.8
130.2
129.0
128.3
122.9
120.3
121.1
26915 26375 2 668 5 26838 27014 27118 27367 27618 27797 27992 r2 829 1 '2 848 2 '2 866 8 '2 899 0 29168
25786
402.1
2,176.5
2,051.1
1,991.9
244 5
7610
9864
27421
406.5
2,335.6
2,221.9
2,158.0
2794
804 1
10745
26890
402.2
2,286.8
2,181.8
2,119.9
2706
7866
10627
2 719 3
415.5
2,303.8
2,218.8
2,156.4
2786
8044
1 0734
27326
420.2
2,312.4
2,228.0
2,164.8
284 1
8077
10730
27476
396.9
2,350.7
2 238.9
2,174.8
287 1
8138
10739
581
628
609
613
621
629
1.1
1254
1.2
1137
1.1
1049
1.1
851
1.1
844
1.2
111 8
5.8
4.9
4.5
4.0
4.0
4.5
1 060.2
1,094.6
1,078.4
9702
139.8
3642
466.2
1 Oil 4
156.3
376 1
479.0
2053
2134
2121
2127
2126
2136
2147
2157
2159
2160
2165
'2177
'2179
2187
138.6
147.6
141.9
143.9
149.7
147.0
153.3
158.4
158.4
154.7
151.5
154.3
'160.2
'161.4
P
e
P
e
P
e
!64.6
e
!79.2
e
27816
403.4
2,378.2
2,260.1
2,194.7
2832
8174
10942
28125
408.3
2,404.2
2 279.9
2,213.4
2897
8257
10979
28335
411.0
2,422.5
22943
2,227.1
2939
8277
1 1055
28596
414.7
2,444.9
23207
2,252.1
3122
8216
1 1184
63 7
64 1
651
658
672
1.2
1175
1.2
1182
1.4
1243
1.4
128 2
1.4
124 2
49
5.0
5.1
52
27564
400.1
2,356.3
22387
2,173.8
2782
8131
1 082 5
1,083.3 1,087.5 1 100.4 10974
r
51
'2 906 8 '2 928 0 '2 943 7
'422.0 '422.8
419.2
'2,506.0 '2,521.0
'2,487.7
r
2,368 2 '2 347 7 '2 353.7
'2,299.0 '2,277.1 '2,282.5
3127 '3107
3221
8396 '8374
8525
1 124 4rl 124 9 '1 134 5
'2 961 0
'425.5
'2,535.4
'2,390 3
'2,318.6
'3178
'8576
'1 143 3
29788
430.'l
2,548.7
24153
2,343.1
3314
8616
1 150 1
676
689
696
702
707
'1.6
'1194
'1.6
'1584
'1.6
'1673
'1.5
'145 1
1.5
1334
54
'59
6.2
59
1,102.6 1 113.5 1 1215 1 1294 1 1429 '1 150 3 '1 152 6 1 1576
9997 1 014 0 1018 1 1 018 1 1 0124 10175 10251 10310 10403 '1 056 2 '1 045 2 '1 043 6 10586
1755
172.7
1627
160.7
157.4
160.5
'171.8
177.7
1724
160.3
1570
152.1
1555
3938
3788
3784
3825
3780
3912
3868 '3840
3803
3847
3770
3762
3700
489.4
482.1
483.6
481.7
479.7
487.6 '487.3 '485.7 '487.9
478.5
479.9
477.6 . 480.8
2190
161.6
!623
146.3
137.6
156.2
124.7
142.9
148.2
168.1
134.5
134.2
143.0
162.3
129.7
133.4
145.4
165.0
131.8
137.8
151.3
172.6
136.5
146.8
146.8
167.6
132.4
152.2
153.4
177.6
136.7
148.2
160.0
183.2
143.9
141.6
160.7
182.1
145.9
142.6
156.1
173.9
143.8
152.6
150.9
164.5
141.4
158.4
153.9
166.8
145.0
'152.7
'161.2
'175.4
'151.3
'149.1
'163.4
177.3
'153.9
144.0
164.0
"178.5
"154.0
138.6
147.6
142.6
144.4
146.4
149.7
1518
153.8
155.0
155.3
156.2
158.5
'160.0
'160.8
P
162.5
e
'161.1
'158.6
'160.0
P
162.6
P
e
141.8
141.5
142.6
149.2
147.1
151.7
144.5
142.8
147.7
146.2
144.5
150.4
148.1
146.4
152.4
150.9
149.0
154.8
153.2
150.7
156.3
154.9
152.1
157.3
155.6
152.7
156.9
155.8
153.2
156.1
157.4
155.2
157.7
159.7
157.5
159.5
'160.4
'158.0
'159.4
160.3
"161.7
!44.6
!54.5
!63.2
!63.3
«161.0
•161.7
S-l
SURVEY OF CURRENT BUSINESS
S-2
Unless otherwise stated in footnotes below, data
through 1982 and methodological notes are as
shown in BUSINESS STATISTICS: 1982
1982
1984
1983
1983
Annual
June 1984
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
GENERAL BUSINESS INDICATORS—Continued
INDUSTRIAL PRODUCTION—Continued
Seasonally Adjusted— Continued
By market groupings—Continued
Final products—Continued
129.2
Durable consumer goods
1967=100..
147.5
Automotive products
do....
129.5
158.2
Autos and utility vehicles
do....
99.0
134.0
Autos
do
866
1174
Home goods
do
129 1
141 4
148.0
Nondurable consumer goods
do....
153.4
Clothing
do
Consumer staples
do. .
159.0
1637
149.7
Consumer foods and tobacco
do....
153.5
169.7
Nonfood staples
do....
175.4
Equipment
do
1398
1408
Business equipment
do
1579
1533
Industrial equipment #
do....
134.9
120.4
Building and mining equip
do....
214.2
159.3
Manufacturing equipment
do....
107.2
107.1
Commercial transit farm eq $
do
1844
1913
Commercial equipment
do....
253.5
273.2
Transit equipment
do....
103.9
952
Defense and space equipment
do....
109.4
119.9
Intermediate products
do
1433
1566
Construction supplies
do .
124.3
1425
Business supplies
do....
162.1
170.7
Materials
do
1337
1452
Durable goods materials
do....
125.0
138.6
Nondurable goods materials
do....
157.5
174.5
Energy materials
do
1251
1248
By industry groupings:
Mining and utilities
do
1463
1429
Mining
do....
1261
1166
Metal mining
do....
82.4
809
Coal
do
1427
1363
Oil and gas extraction #
do....
131.1
116.6
Crude oil
do....
95.1
951
947
Natural gas
do
104 1
Stone and earth minerals
do....
112.1
122.8
Utilities
do
1687
1724
Electric
do.
1905
1960
Manufacturing
do
1376
1482
Nondurable manufactures
do....
156.2
168.1
Foods
do
151 1
1564
Tobacco products
do....
118.0
112.1
Textile mill products
do
1245
1408
Apparel products
do....
Paper and products
do....
150.8
1643
Printing and publishing
do
144 1
1525
Chemicals and products
do....
196.1
2150
Petroleum products
do
1218
1203
Rubber and plastics products
do....
254.7
291.9
Leather and products
do....
60.9
61.9
Durable manufactures
do
1247
1345
Ordnance, pvt. and govt
do....
86.9
95.4
Lumber and products
do....
112.6
1372
Furniture and
fixtures
do....
151.9
170.5
Clay, glass, and stone products
do....
128.2
143.4
Primary metals... .
.
.
do
753
854
Iron and steel
do
617
715
Nonferrous metals
do....
99.7
110.1
Fabricated metal products
do....
114.8
120.2
Nonelectrical machinery
do....
149.0
150.6
Electrical machinery
do....
169.3
1855
Transportation equipment
do....
104.9
117.8
Motor vehicles and parts
do....
109.8
137 1
Instruments
do
1619
1587
BUSINESS SALES
Mfg. and trade sales (unadj.), total @
mil. $.. 4,122,053 4,405,156
Mfg. and trade sales (seas, adj.), total @
do.... '4,122,053 '4,405,156
1
Manufacturing, total tt
do.... 1,910,317 '2 047 400
Durable goods industries
do.... 922,313 1,021,514
Nondurable goods industries
do.... 988,004 1,025,886
Retail trade, total $
do.... 1 1,074,561 11,173,966
Durable goods stores
do.... 324,489 385 141
Nondurable goods stores
do.... 750,072 788,825
Merchant wholesalers, total t
do.... 1 1,137,175 1 1,183,790
Durable goods establishments
do.... 467,107 504,810
Nondurable goods establishments
do.... 670,068 678,980
Mfg. and trade sales in constant (1972) dollars
(seas, adj.), total
bil $
Manufacturing
do...
Retail trade
do
Merchant wholesalers
do....
See footnotes at end of tables.
140.5
144.9
117.8
1027
1381
150.5
145.5
152.2
124.9
1074
1418
152.3
149.2
160.0
135.4
1183
1432
153.6
152.9
167.0
145.4
1298
1449
155.6
154.2
168.1
147.0
1320
1464
157.1
157.5
172.9
153.1
1350
1488
157.2
156.7
171.3
149.2
1296
1484
157.1
155.9
171.5
149.2
1294
1472
156.1
158.6
178.4
157.8
1374
1475
157.3
163.4
184.5
163.3
1407
1515
157.9
'162.5
'182.1
r
!62.2
1404
1515
158.2
163.0
183.8
163.8
1424
1513
158.8
P
162.4
"178.9
P
156.7
P
1345
P
1532
P
161.4
162.4
178.2
e
!55.5
«1329
1536
161.5
161 1
150.9
172.9
1362
1469
113.5
141.8
101.7
1854
264.3
920
118.2
1508
1364
165.2
1397
132.4
168.7
1216
1628
153.2
174.0
1365
1477
114.5
146.2
102.5
1861
265.0
926
117.6
1522
1384
166.0
1417
134.7
172.1
121 1
1643
155.9
174.1
1382
1502
116.3
148.7
105.0
1895
270.9
93.2
118.0
1545
1421
166.8
1437
137.0
174.3
1218
166 1
156.6
177.2
1410
1533
119.9
154.4
108.9
1919
276.0
92.0
120.4
158 1
1458
170.4
1478
141.1
177.0
1277
1680
156.3
181.6
1431
1566
124.3
159.2
113.3
1940
277.4
959
1202
1622
1490
1753
1497
144.2
178.0
1280
1676
154.6
182.7
1449
1587
125.6
160.8
115.0
1969
281.7
976
1218
1654
1514
1793
1522
147.4
182.3
1264
1672
156.0
180.3
1470
1613
126.6
166.9
114.6
2013
288.1
1000
1229
1665
1523
1806
1540
149.4
185.3
1263
1654
154.5
178.1
1491
1641
128.6
175.8
114.3
2051
292.5
103.2
124.0
1655
1516
1794
1545
150.3
184.8
127 1
166.0
155.4
178.3
1518
1673
130.8
185.3
115.1
2096
298.9
106.0
125.7
1654
1515
179.3
1545
151.3
180.3
1300
166.5
156.5
178.2
1549
1707
133.7
185.1
119.7
2133
303.2
110.1
128.3
1678
1555
180.1
1566
154.6
181.2
1313
1669
156.8
178.7
156 1
1719
134.6
182.0
120.9
r
2151
r
305.9
1101
1295
1690
1566
1813
1594
158.6
184.1
131 0
1677
157.1
179.9
1566
1723
135.0
174.9
124.7
r
2155
'306.7
1102
'130.0
1703
1593
181.3
'1605
159.6
185.8
'131 2
P
1703
1706
P
182.4
P
1584
P
1738
P
135.9
P
172.1
P
126.8
P
2175
P
309.9
P
1103
P
1327
P
1713
P
1604
P
1821
P
1623
"162.3
P
187.7
P
131 0
183.1
1599
1754
137.8
e
179.9
127.0
"2189
e
311.4
6
1120
1338
1718
1603
1389
1116
798
1253
112.2
960
979
117.7
1693
1927
1431
163.3
1537
114.8
1366
1397
1128
844
1256
112.5
953
94 1
122.5
1697
1929
1451
165.4
1556
112.9
1396
1396
1126
829
1246
112.6
959
874
121.7
1698
1920
1474
167.8
1577
1200
1418
1438
1150
825
1399
113.9
957
89 1
121.2
1760
2009
1506
170.6
1599
1129
1467
1460
1161
809
141 2
114.7
943
91 0
125.0
1793
2054
1528
1729
1593
1171
147 4
1465
1171
787
1405
116.3
954
91 5
126.5
1793
2045
1551
1746
1582
1127
1487
1458
1183
810
1427
117.3
944
929
127.4
1765
2007
1562
1756
1576
1091
148 7
1472
121 1
846
1448
119.8
940
967
132.2
1763
2002
1564
1748
1571
1095
1458
1515
1237
823
1452
123.4
946
985
133.9
1825
2080
1568
1739
1577
1123
1450
1514
1248
894
1515
123.1
964
996
134.8
1810
2068
1595
1752
1594
1164
1439
1489
1241
974
1632
119.6
r
946
992
133.0
1765
r
2000
161 4
1772
1600
1109
1423
1504
1238
1000
1640
118.1
'934
"1496
P
1228
P
998
P
151
4
P
118.2
P
960
1512
1250
1570
1457
2085
1206
283.0
58.7
1291
93.2
1321
167.7
138.3
831
685
1054
115.3
143.1
1772
111.4
1255
1551
1615
1452
2110
1238
288.0
59.6
1310
92.6
1358
169.6
139.2
849
695
1100
115.5
146.1
1801
113.8
1304
1560
1630
1474
2147
1230
293.8
60.1
1332
93.3
1374
173.1
141.7
848
69 7
1107
118.5
149.5
1824
116.6
1362
1561
1651
1520
2183
1243
296.1
62.3
1368
95.2
141 3
175.2
145.8
855
71 8
1126
122.7
154.2
1883
119.7
1423
1593
1686
1578
2203
1232
306.9
64.4
1388
96.8
1416
179.0
147.9
875
75 1
1081
126.0
157.3
1892
121.1
1443
161 6
1704
161 7
2241
125 1
310.9
64.2
141 6
98.0
1423
180.7
151.7
906
782
1135
127.4
158.3
1958
124.7
1509
1636
1715
1627
2284
1236
310.8
64.0
1428
98.8
1417
181.0
151.9
953
84 3
1155
126.9
159.2
1984
125.5
1509
1630
1721
1620
2256
1254
309.1
63.2
1436
99.3
141 0
177.5
152.7
922
792
114 1
128.5
161.8
200 1
127.3
1529
1630
1701
161 7
221 1
1144
314.4
66.0
1450
99.8
1438
177.9
153.8
904
74 1
1215
129.2
164.3
201 5
130.8
1589
1646
1723
1634
2215
1188
317.2
61.4
1486
99.7
1460
183.8
157.8
932
80 7
1174
131.7
169.5
2062
134.9
1663
1678
1766
1648
'2248
1276
318.5
63.9
1505
99.6
1456
185.6
160.4
984
860
121 3
132.8
170.9
2099
135.2
1644
1686
'1745
'1652
'2257
'1270
'323.8
'63.8
'151 2
100.6
'1493
185.0
'160.2
'976
'84 4
'1226
134.9
171.8
'2109
135.4
'1658
'1697
348,454 364,388 385,610 352,447 374,842
351,012 360,488 368,971 370,181 373,283
162 997 166 603 171 756 171 408 174 112
80,124 82,011 85,594 85,076 86,730
82,873 84,592 86,162 86,332 87,382
95,125 97,239 98,638 98,832 98,277
30671 31705 32790 32597 31951
64,454 65,534 65,848 66,235 66,326
92,890 96,646 98,577 99,941 100,894
39,224 40,667 42,479 42,824 42,757
53,666 55,979 56,098 57,117 58,137
386 670
379,229
177 521
88,963
88,558
99,537
32905
66,632
102,171
43,535
58,636
389 500
382,457
177 324
89,181
88,143
100,923
33882
67,041
104,210
44,519
59,691
389 339
386,564
180 875
92,311
88,564
101,896
34641
67,255
103,793
44,946
58,847
412 744
395,682
186 352
96,351
90,001
102,438
35532
66,906
106,892
46,363
60,529
367 603
401,133
184 406
95,283
89,123
106,602
37 127
69,475
110,125
47,855
62,270
383 524
398,815
185 005
96,297
88708
105,482
36909
68,573
108,328
47,308
61,020
'417 312
'401,905
'188 479
'96,990
'91 489
103,873
'35 306
'68,567
109,553
'48,454
'61,099
1662
767
497
39.8
166 1
76 1
499
40.1
168 8
780
507
40.2
172 5
800
51 2
41.3
173
0
r
79 6
51 9
41.5
'173 2
'80 4
'51 0
'41.9
1560
720
477
36.3
161 6
737
491
38.8
1658
76 1
498
39.8
1640
748
498
39.4
164 7
764
490
39.3
r
!74 2
793
52 4
42.4
137.0
'1800
'2046
'162 1
1778
161 2
1118
'1435
e
!63 1
163.0
188.8
e
!31 6
1534
120.8
P
139.5
P
1795
P
2040
P
164 1
P
1799
P
1805
«2053
1647
1802
1449
P
1751
P
1660
P
2286
P
1293
P
328.7
P
64.4
P
1532
P
101.5
P
1500
P
189.3
P
1615
P
999
P
86 7
P
1200
P
136.7
P
175.5
P
2145
P
135.0
P
1626
P
171 9
1762
1654
6
130 1
'154 0
102.0
"100 9
137.0
176.2
«>216 1
135.3
'163 0
"172 9
400 357
404,615
186 727
94,995
91732
107,097
37319 """
69,778
110,791
49,377
61,414 •"•••»•••"•
174 1
79 6
52 1
42.3
S-3
SURVEY OF CURRENT BUSINESS
June 1984
Unless otherwise stated in footnotes below, data
through 1982 and methodological notes are as
shown in BUSINESS STATISTICS: 1982
1982
Apr.
Annual
1984
1983
1983
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
GENERAL BUSINESS INDICATORS—Continued
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 ft
Durable goods industries
Nondurable goods industries
Retail trade total $
Durable goods stores
Nondurable goods stores
do....
do
do
do
do. ..
do....
Merchant wholesalers, total t
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
BUSINESS INVENTORY-SALES RATIOS
Manufacturing and trade total @
ratio
Manufacturing total "t~f"
do
Durable goods industries
do
Materials and supplies
do .
Work in process
do
Finished goods
.
do
Nondurable goods industries
do
Materials and supplies
do
^fork in process
do
Finished goods
do
Retail trade total $
. ...
do
Durable goods stores
do
Nondurable goods stores
do....
500 915
509 324 501 712 501 063 498 831 497 598 500 692 506 404 516 614 521 655 509 324 513 621 525 177 r534 333 542 221
505,546
264,599
175 009
89590
125 384
56,748
68,636
115,563
76013
39,550
514,336
260,426
171 571
88855
135 843
63447
72,396
118,067
75811
42,256
152
173
237
0.72
103
061
1 13
044
018
050
142
2.18
1.09
1.25
2.01
0.72
137
152
201
0.60
090
051
103
041
0 17
046
133
1.85
1.07
1.17
1.76
0.72
500,263
257,748
170 368
87380
127 613
58,057
69,556
114,902
73753
41,149
501,035
258,281
171 065
87216
129 197
58796
70,401
113,557
72647
40910
500,615
257,661
170 154
87507
129 782
59,120
70,662
113,172
72501
40,671
501,379
257,699
169 679
88020
129 556
58614
70,942
114,124
73193
40,931
504,284
259,074
170 283
88791
130 983
59400
71,583
114,227
73076
41 151
506,984
259 168
170 084
89084
132 142
60627
71,515
115 674
74249
41425
509,171
259,569
170 219
89350
132 777
61048
71,729
116,825
74806
42019
511,453
259,873
170 656
89217
134 622
62441
72,181
116,958
74791
42167
514,336
260,426
171 571
88855
135 843
63,447
72,396
118,067
75811
42,256
257.2
136.3
658
551
257.5
1366
662
547
257.1
136.3
663
544
256.9
1363
660
547
258.1
1367
665
549
259.3
1366
673
554
259.8
1365
676
557
260.7
1365
683
558
261.6
1365
689
563
143
158
213
0.63
095
054
105
042
017
0.47
134
1.89
1.06
1.24
1.88
0.77
139
155
209
062
094
053
103
041
017
046
133
185
1.07
1.17
1.79
0.73
136
150
199
0.59
089
051
102
040
0 17
0.45
132
1.80
1.07
1.15
1.71
0.72
135
150
199
0.59
090
051
102
040
0 17
045
131
180
1.07
1.14
1.71
0.72
134
146
191
057
086
048
101
040
016
044
133
184
1.07
1.13
1.71
0.71
133
146
191
057
086
048
101
040
017
044
132
180
1.07
1.12
1.68
0.70
132
1 44
185
055
083
046
101
040
017
044
132
180
1.07
1.13
1.66
0.72
130
140
178
054
080
044
099
040
0 16
043
133
179
1.08
1.10
1.64
0.70
129
141
180
054
081
045
100
041
016
043
129
172
1.07
1.08
1.60
0.69
1 56
178
136
139
1 56
179
135
139
1 54
175
135
139
1 52
171
134
136
1 51
171
133
133
135
1 49
196
059
088
050
102
041
017
045
133
186
1.08
1.13
1.71
0.71
Merchant wholesalers, total t
do....
Durable goods establishments
do
Nondurable goods establishments
do....
Manufacturing and trade in constant (1972) dollars,
total
do
165
159
155
157
1 57
Manufacturing
do
189
179
185
182
179
138
133
Retail trade
do
135
133
136
Merchant wholesalers
do....
1.52
1.41
1.37
1.39
140
MANUFACTURERS* SALES, INVENTORIES,
AND ORDERS ft
Shipments (not seas, adj.), total
mil. $.. 1,910,317 2,047,400 163,795 168,253 181,973 158,331 171,649
Durable goods industries, total
do.... 922,313 1,021,514 81,878 83,736 92,444 76,670 83,373
Stone, clay, and glass products
do
44005
49058
3963
4109
4519
3945
4476
Primary metals
do ... 107,031 117 904
9,593
9,863 10,363
9042
9748
47,320
3,936
3,922
Blast furnaces, steel mills
do....
48,189
3,661
4,283
4,026
Fabricated metal products
do.... 113,975 120,570
9,703 10,108 10,663
9,148 10,306
Machinery, except electrical
... do
180 612 178 267 13989 14245 16413 13844 14 102
Electrical machinery
do
141 056 156 016 12462 12526 13890 11 481 12416
Transportation equipment
do.... 195,054 240,496 19,473 19,893 22,359 16,771 18,436
Motor vehicles and parts
do.... 112,177 151,870 11,984 12,874 14,087 10,216 11,690
3,897
4,381
Instruments and related products
do....
48,873
50,016
3,908
3,894
4,084
Nondurable goods industries, total
do
988 004 1 025 886 81917 84517 89529 81661 88276
Food and kindred products
do.... 277,324 286,605 22,835 23,829 24,901 22,423 24,167
1070
Tobacco products
do
14455
15462
1 187
1514
1 154
1264
Textile mill products
do
4140
4763
47217
52219
4332
3775
4651
Paper and allied products
do....
78,989
85,135
7,070
6,975
6,719
7,423
7,274
Chemical and allied products
do
172 803 190 230 15305 16261 16959 14460 15751
Petroleum and coal products
do
206 430 191 551 15431 15835 16850 16671 16784
50,163
50,320
4,146
4,108
3,994
Rubber and plastics products
do....
4,472
4,305
162 997 166 603 171,756 171 408 174 112
Shipments (seas adj ), total ....
do
By industry group:
Durable goods industries, total #
do
80,124 82,011 85,594 85076 86730
4123
3882
4015
3982
Stone clay and glass products
do
4235
Primary metals
do....
9,120
9,508
9,750
9,954 10121
3,994
Blast furnaces, steel mills
do
3702
3872
4050
4189
9,493
9,921
9,887
9,921 10227
Fabricated metal products
do....
14078 14265 14975 15360 15013
Machinery except electrical
do
12450 12554 12972 12791 12762
Electrical machinery
do
18,476 18,898 20,491 19,617 20,988
Transportation equipment
do....
11 120 11985 12682 12509 13656
Motor vehicles and parts
do
3,976
3,984
4,083
4,330
Instruments and related products
do....
4,145
82,873 84,592 86,162 86,332 87382
Nondurable goods industries total #
do ...
23581 24214 23956 23812 24018
Food and kindred products
do
1,096
1183
1,444
1156
Tobacco products
.do
1220
Textile mill products
do....
4,260
4,377
4,434
4,172
4,518
7 107
6930
7143
6949
Paper and allied products
do
7 108
14,789 15482 15,935 15920 16348
Chemicals and allied products
. do
15,954 15,811 16,384 16,778 16,691
Petroleum and coal products
do....
4.008
4.091
4.163
4.204
Rubber and olastics products
do....
4.168
See footnotes at end of tables.
518,062
260,884
171 549
89335
137 977
63749
74,228
119,201
76408
42,793
r
262.2
1360
696
566
'532,766
'267,379
'175 751
'91 628
'143 910
'66 946
'76,964
'121,477
'78188
'43,289
540,904
270,434
178 374
92060
146893
68983
77,910
123,577
78607
44970
265.6
1371
'715
569
'266.8
'138 2
'715
'570
269.5
1390
726
579
132
143
180
054
081
044
102
042
017
044
135
189
1.11
1.11
1.63
0.72
133
142
181
055
082
044
134
1 45
188
056
086
046
ioo
100
040 i.1
040
016
0 16
'044
044
:
:
139 ! ' 137
'190
185
1.12 >' i i 1 2
1.11 • ! • 1.12
1.61
1.59
0.71
0.73
1 54
!72
138
137
154
155
'172
175
'140
139
136 l< '137
527,216
264,074
173 203
90871
142 731
66513
76,218
120,411
76910
43501
r
r
185,882 182,791 179,712 179,624 169,717 186,655 '197,619 187,996
93,189 92,735 91,572 92,344 85,815 96948 '103 730 97193
4688
4531
4289
3734
3758
4328 '4511
4596
10505 10659 10542 10932 10526 11457 '12404 11*774
4,245
4,300
4,382
4,300
4,476
4,789 '5,211
4,992
11,107 11,224 10,522 10,006
9,891 11 121 '11,589 11 141
16034 15606 15534 17546 14429 16717 '18506 16729
14 398 14066 14059 14330 13 129 14435 '15791 14 590
21,613 21,948 22,551 22,014 21,819 24,529 '25,649 23,378
14,015 14,988 14,885 13,222 15,372 16,865 '17,636 15,719
4,596
4,444
4,415
4,674
4,041
4,333 '4,851
4,602
92693 90056 88140 87280 83902 89707 '93 889 90803
25,908 24,694 24,050 24,344 22,701 24,300 '25,454 24151
1525
1341
1410
1771
1035
1285
1241 '1500
4 807
4830
4474
4496
4202
4771 '5 186 4604
7,425
7,462
7,275
7,135
7,459
8,024 '8,149
8,126
17532 16290 16078 16706 16485 17486 '18 703 18462
16961 16295 16084 16412 15582 15825 '16 842 16 545
4,514
4,300
4,574
4095
3985
4*340 '4494
4513
177 521 177 324 180 875 186 352 184 406 185005 '188 479 186 727
88963
4304
10286
4266
10616
15416
13571
21063
13732
4297
88558
24316
1432
4523
7229
16904
16868
4.354
89181
4226
10631
4406
10681
15588
13594
20,609
13513
4,305
88 143
23904
1295
4615
7354
17145
16,218
4.308
92311
4346
11 164
4641
10766
15912
13966
22039
14395
4304
88564
23765
1423
4482
7542
17209
16074
4.499
96351
4250
11964
4796
10889
16444
14579
23531
15602
4568
90001
24502
1618
4806
7701
17329
16093
4.567
95283
4462
10783
4335
10904
16327
14327
24223
16761
4490
89123
24542
1 137
4770
7743
17088
4.264
96297
4634
10*973
4565
11083
16481
14*216
24257
16540
4426
88708
23998
1349
4787
7797
17159
15751
4.320
'96990
'4458
'11 571
'4751
'10 977
'17029
'15 127
'23 215
'15890
'4590
'91 489
'24
750
r
l 614
'4710
'7 778
'17 262
'17*314
'4.438
94995
4505
11 195
4 700
10893
16 827
14*561
22 114
14585
4*702
91732
24 949
1*320
4645
7987
17810
17 134
4.367
May
S-4
Unless otherwise stated in footnotes below, data
through 1982 and methodological notes are as
shown in BUSINESS STATISTICS: 1982
SURVEY OF CURRENT BUSINESS
1982
1984
1983
1983
Apr.
Annual
June 1984
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
GENERAL BUSINESS INDICATORS—Continued
MANUFACTURERS' SALES, INVENTORIES,
AND ORDERS f— Continued
Shipments (seas, adj.)— Continued
By market category:
Home goods and apparel
mil $
Consumer staples
do
Equipment 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
Inventories, end of year or month:
Book value (unadjusted), total
do....
Durable goods industries, total
do....
Nondurable goods industries total
do
Book value (seasonally adjusted), total
do....
By industry group:
Durable goods industries, total #
do....
Stone, clay, and glass products
do....
Primary metals
.
do
Blast furnaces, steel mills
do..
Fabricated metal products
do....
Machinery, except electrical
do....
Electrical machinery
do....
Transportation equipment
do....
Motor vehicles and parts
do....
Instruments and related products
do
By stage of fabrication:
Materials and supplies
do
Work in process
do....
Finished goods
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:
Home goods and apparel
do....
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
do.. .
Durable goods industries, total
do....
Nondurable goods industries, total
do....
New orders net (seas adj ) total
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 0
do....
By market category:
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...
See footnotes at end of tables.
1130 888
'367 743
'290 770
430 758
435 945
1354 213
445 185
'383 308
'297 016
474 193
457 168
'890 530
11685
31 175
23790
12922
12273
71 152
11751
32038
23322
13795
12846
72851
12046
32137
25198
14537
13330
74508
12264
31669
24,892
14351
13049
75 183
12420
32265
24,547
15517
13367
75996
12489
32 345
25524
15627
13771
77765
12601
31952
25,125
15412
13,748
78486
12850
32151
26,281
16294
13,943
79356
12878
33349
27441
17775
13919
80990
13289
32856
25971
18818
13959
79513
13070
32477
26,409
18594
14643
79812
43 124
'33 699
'27,193
'17 996
44
177
r
82 290
12599
33766
26,846
16585
14333
82598
1
57,753 '64 777
'327 990 '337 497
'271 305 '272 339
'56 685 '65 158
5,211
27 188
21879
5309
5237
26622
21387
5235
5439
28647
23265
5382
5,442
28158
22581
5577
5462
27996
22514
5482
5595
28948
23482
5466
5,702
28749
23 109
5640
5,828
29825
24 138
5687
5855
31 123
25445
5678
5989
29810
24092
5718
5,930
30010
24 158
5852
r
6,043
r
30 967
r
25
236
r
5,910
30779
24836
5943
5731
r
261,987
172,615
89372
264,599
257,601 259,984 260,272 257,793 257,219 258,403 257,216 258,831 259,223 257,601 260,807 265,548 268,783 272,723
169 023 172,010 172,770 170 803 169,776 170,438 169,056 169,331 169,575 169 023 170 750 174 288 176
910 180 040
88578 87974 87502 86990 87443 87965 88160 89500 89648 88578 90057 91260 r91 873 92683
r
260,426 257,748 258,281 257,661 257,699 259,074 259,168 259,569 259,873 260,426 260,884 264,074 267,379 270 434
175,009
5,923
21409
10666
17,723
40,099
26,595
40446
8,315
9237
171 571 170,368 171 065 170 154 169,679 170 283 170 084 170,219 170,656 171 571 171 549 173 203 175
751 178 374
5,677
5,685
5,802
5,725
5,739
5,705
5,694
5,688
5,677
5,600
5764
5,752
5,596 r5,687
19228 20587 20578 20335 20081 19962 19782 19668 19700 19228 19009 19434 19
886 20342
r
9 122 10017
9711
9371
9,402
8893
9949
9817
9521
9401
9 122
9139
9329
9447
17,819 17,305 17,327 17,371 17,513 17,608 17,541 17,352 17,666 17,819 17,765 17,892 r18,034 18,232
36,711 38,534 38,346 38,021 37,463 37,398 37,174 37,042 37,032 36,711 36,922 37,089 r37,444 37867
28,154 26,212 26,488 26,739 26,801 27,061 27,175 27,347 27,516 28,154 28,127 28,471 r28,909 29,293
40528 39356 39867 39348 39,313 39580 39687 39809 39646 40528 40716 41206 42 082 42740
9,460
8,381
8,471
8,390
8,519
8,578
8,729
8,919
9,460
9,617
8,525
9,751 '9,934
9,960
8867
9014
8941
8997
8884
8957
8937
8949
9023
8828
9020 r9087
9014
9188
8640
19649
8,680
5,724
51 174
76,582
42900
89,217
20,680
4050
6954
8755
19700
8,462
5,723
51640
77372
42559
88855
20,797
3931
6899
8729
19582
8,232
5,673
51910
77058
42581
89335
20,996
3870
6951
8829
19509
8165
5,684
52228 rr52 866
78 173 79 926
42802 r42 959
90,871 rr91 628
21,354 21,629
3831 r3771
6960 '7066
8898 '8914
19840 '20 357
8,739 '8319
5,797 '5,900
53242
81622
43510
92060
21,276
3675
7 132
9028
20470
8925
5,776
35,682
14647
39021
35,558
14841
38,818
36,066
14485
38304
36486
14656
38 193
37,063 '36,956
14739 '14 759
39069 '39 913
36715
14977
40368
52475
77,724
44810
89,590
20,678
4407
6183
8563
19878
9,389
5,813
51640
77372
42559
88,855
20,797
3931
6899
8729
19582
8,232
5,673
50548
76,277
43543
87,380
20,533
4245
6259
8323
19472
8,651
5,654
50805
76752
43508
87,216
20,514
4201
6378
8372
19340
8,598
5,672
50564
76211
43379
87,507
20,344
4269
6482
8383
19340
8,615
5,727
50206
76,189
43284
88,020
20,343
4460
6583
8366
19488
8,590
5,740
50759
76335
43189
88,791
21,054
4217
6678
8412
19669
8,475
5,721
50821
76401
42862
89,084
21,025
4200
6814
8489
19566
8,674
5,701
50909
76788
42522
89,350
20,783
4 120
35,074
14309
40,207
36,066
14485
38304
34,472
14369
38539
34,411
14211
38594
34,736
14266
38505
34,606
14468
38,946
35,394
14441
35,731
14490
38863
20,179
33259
76,422
10468
18,886
105,385
OQ QCC
20,946 19,882 19,925 20,186 20,163 20,250 20,448 20,650 20,683 20,946 21,283 21,365
32143 32581 32540 32523 32642 32809 32209 32 128 32223 32143 32497 32865
73,257 74,000 74,292 73,444 73,102 73,254 73,148 73,223 73,045 73,257 73,445 74,025
11626 10337 10525 10447 10568 10658 10632 10772 11 031 11 626 11720 11 945
19,134 18,712 18,662 18,827 19,019 19,149 19,307 19,217 19,275 19,134 19,047 19,199
103,320 102,236 102,337 102,234 102,205 102,954 103,424 103,579 103,616 103,320 102,892 104,675
9879
10093
86197
83191
65432
70259
17759
15,938
1 888 668 2,081 200
901,550 1,053 671
987,118 1,027,529
4 888 668 '2 081 200
'21,695 21,998
'33 173 32934
'74,849 76,125
'12 167 12203
19,298 19,664
106,197 107 510
9861
9765
9795
9752
9767
9848
9906
9860 10093 10144 10 161 '10 391 10594
83756 84157 83484 82,928 83 115 83063 83070 82631 83191 83278 83839 '85 207 86407
66974 66972 66 189 65528 65312 65555 65712 65268 65432 65466 65622 '66 670 67508
16,782 17,185 17295 17,400 17,803 17508 17358 17,363 17759 17812 18217 '18 537 18899
166,400 167 484 183 472 160,111 172,271 187 600 189 532 183 563 184 379 178 284 194 643 '207 546 189 955
84,166 82,843 93,928 78,153 83,839 94,731 99529 95,606 97124 94005 104 611 '113 734 99 181
82,234 84,641 89,544 81,958 88,432 92,869 90,003 87,957 87,255 84,279 90,032 '93,812 90,774
165 869 168 090 175 877 174 451 176 360 180 336 182 911 186 606 188 374 188 671 191 336 '196 144 189 148
'901 550
IIQI 010
'43,539
1
48,201
406,790
462,913
447,579
'200,596
1
67,743
'987,118
'202,344
'784,774
4053671
423394
'51,282
'59,618
419,455
480,874
465573
'254,004
'81,899
4,027,529
'222,706
'804,823
82865
9 185
3,656
4,584
9,288
14,339
12,860
20,350
7,444
83,004
17,896
65,108
83286
9745
4,020
4,685
9,932
14,659
13632
18,167
4,280
84,804
18,293
66,511
89460
10 127
4,039
5,026
9,845
15,377
13308
22,738
7,954
86,417
18,692
67,725
87878
10311
4,322
4,918
9,798
15,122
14,450
20,391
5,421
86,573
18,701
67,872
88820
10773
4,519
5,212
10,180
15,207
13854
21,159
6,033
87,540
18,984
68,556
91 509
10998
4,843
4,942
10,524
16,944
14350
20,498
6,179
88,827
18,880
69,947
94776
11273
4,962
5,138
10,591
17,073
15055
22,551
7,672
88,135
19,177
68,958
97991
12 147
4,999
5,935
10,736
16,115
14801
25,717
8,308
88,615
19,470
69,145
98444
11 809
4,836
5,683
10,779
16,415
15369
25,167
8,477
89,930
19,712
70,218
99439 102 345 104 850
11 622 11 442 '11 324
4,848
4,773 '4,655
5,361
5,316 '5,309
10,986 11,411 '10,931
17,159 17,215 18,303
15658 16143 '16 892
24931 26,702 '28 444
6,423
7,487 11,263
89,232 88,991 '91,294
20,035 20,141 19,658
69,197 68,850 '71,636
97 642
11 861
4746
5,847
10814
16,834
14823
23779
7,891
91,506
20,026
71480
430,197
'367 750
'288,324
429,645
431,667
'841,085
445,891
'383 242
'310,882
476,620
456,572
'907,993
11,696
31 175
26,229
13,175
12,218
71,376
12,054
32046
23,431
13,901
12,627
74,031
12,092
32100
27^580
14,769
13,321
76,015
12,436
31645
25.325
14,686
12,884
77,475
12,468
32273
24,608
16,071
13,428
77,512
12,441
32 366
27,262
15,492
13,669
79,106
12,529
31934
27,967
15,814
13,737
80,930
12,877
32 176
30,009
16,615
13,864
81,065
13,024
33330
27,589
18,060
13,824
82,547
13,591
32839
27,558
19,042
13,937
81,704
13,440
32500
30,335
18,791
14,773
81,497
12,540
33 768
27,523
16,757
14346
84,214
'57 162 '65 384
'323,565 '354,712
'248 166 '273 162
'75,399 '81^550
5231
29,269
21960
7,309
5531
26,654
21849
4805
5475
31,519
23827
7^692
5612
28,810
22060
6J50
5510
27,990
22887
5^103
5514
30,449
25295
5!l54
5645
32,065
25499
&566
5826
33,684
24680
9!004
5 980
32,493
24893
7[600
6 299
31,701
25093
6,608
6249 '5 707 5 821
34,307 '38,399 32,195
27 018 '26 860 25 829
7,289 11,539
6.366
12,802
'33 637
'33,469
17,871
'14 283
'84,082
May
S-5
SURVEY OF CURRENT BUSINESS
June 1984
Unless otherwise stated in footnotes below, data
through 1982 and methodological notes are as
shown in BUSINESS STATISTICS: 1982
1982
Annual
1984
1983
1983
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
GENERAL BUSINESS INDICATORS—Continued
MANUFACTURERS' SALES, INVENTORIES,
AND ORDERS ft— Continued
Unfilled orders, end of year or month (unadjusted),
total
mil $
Durable goods industries, total
do....
Nondur goods ind with, unfilled orders $
do
294 147
285,266
8881
327 947 307 750 306 981 308 479 310 259 310 881 312 599 319 340 323,191 327 947 336 515 344 503 '354,432 356 394
317,423 297 733 296,840 298,323 299,806 300,272 301,814 308,608 312,642 317,423 325,614 333,278 '343,284 345,273
10524 10017 10141 10156 10453 10609 10785 10732 10549 10524 10901 11225 11 148 11 121
296 147
330 122 303 067 304 554 308 675 311 718 313 967 316 782 322 369 328,099 330 122 334 385 340 725 r348 384 350 811
287 014
15 145
6843
6,155
r
369 340 019
319 303 293 355 294 630 298 496 301 298 303 389 305 935 311 530 317 209 319 303 323 457 329 512 337
20817 17011 17248 17625 17982 18635 19347 19989 20,971 20817 21656 22127 r21,880 22,546
720
10766
10094
7915
7960
8563
9140
9696 10053 10094 10607 10816 10
7767
8232
8,533 r8,275
8,793
8,195
7,051
7,328
7,375
7,748
7,777
7,848
8,460
8,195
8,392
7,033
do
do
do
do
do
21646
55759
60333
121 203
93037
do
9 133
21057 21068 21026 20903 20856 20764 20674 20644 20 534 20616 20942 r20 896
54424 54818 55220 54982 55176 56704 58189 58,392 58363 59195 59930 r'61 205
61 966 63044 63380 65039 66 131 66910 68371 69206 CQ QQO 71325 73254 75 020
134 467 125 315 124 584 126 831 127 605 127 776 127*2 11 129*153 132 831 134*467 135 174 137 621 142 845
103 890 97010 95735 97316 97039 97 101 97447 99487 101 605 103 890 104 419 105 846 111 450
10819
9712
9924 10179 10420 10578 10847 10839 10890 10819 10928 11213 11 015
Unfilled orders, end of year or month (seasonally
adjusted) total . . .
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
Machinery, except electrical
Electrical machinery
Transportation equipment
Aircraft, missiles, and parts
Nondur. goods ind with unfilled orders $
By market category:
Home goods and apparel *
Consumer staples *
Equip, and defense prod., excl. auto *
Automotive equipment *
Construction materials and supplies
Other materials and supplies
Supplementary series:
Household durables
Capital goods industries
Nondefense
Defense
20534
58363
CQ QQC
20 818
61,215
75 281
144 511
113 412
10792
r
do....
do
do
do....
do....
do
183 056
5,246
12,866
90703
4,234
3,915
3961
4 181
4133
4061
4909
4r 589
4531
3612
4133
4,088
4234
4537
711
747
728
764
772
735
711
719
740
722
735
672
675
728
196 656 185 216 185 325 187 707 188 140 188 201 189 939 192 781 196 509 196 656 198 240 202 168 '208
444
209
120
7,618
5,518
5,624
5,856
6191
6,745
6,610
7012
7,333
7618
8039 r7,913
8085
7842
12,276 12,895 12,676 12,667 12,502 12,563 12,461 12,450 12,371 12,276 12,254 12,385 12,489 12,502
108 610 95062 96242 97749 100 041 101 558 102 899 105 343 107 051 108610 110 801 112 489 114 277 115 898
do
do
do
do
3057
219,762
123 108
96654
3715
3476
3512
4346 r4 012
3182
3682
3730
3649
3592
3590
3715
4026
3924
236 703 223 107 223 139 226 Oil 226 663 226 657 228 158 231 474 235 333 236 703 238 591 242 889 '250 319 251 736
123 942 118 873 119 335 119 897 119 376 119 749 121 562 123 952 124 494 123 942 124 941 127 802 129 425 130 419
112 761 104 234 103 804 106 114 107 287 106 908 106*596 107 522 110 839 112 761 113 650 115 087 120 894 121*317
566,942
600 400
BUSINESS INCORPORATIONS @
New incorporations (50 States and Dist. Col.):
Unadjusted
number
Seasonally adjusted
do....
3,477
799
49294
48903
50763
50,211
54357
50,992
47726
48601
53515
52,828
49890
50445
49331
50441
47924
51,642
51969
51557
52885
53044
51501
53 591
INDUSTRIAL AND COMMERCIAL
FAILURES ®
Failures, total
Commercial service
Construction
Manufacturing and mining
Retail trade
Wholesale trade
Liabilities (current), total
Commercial service
Construction
Manufacturing and mining
Retail trade
Wholesale trade
number..
do
do....
do
do
do....
thous. $..
do
do....
do....
do
do....
(2)
(2)
Failure annual rate (seasonally adjusted)
No. per 10,000 concerns..
COMMODITY PRICES
PRICES RECEIVED AND PAID BY
FARMERS f
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....
Mfi3t animals
do
Poultry and eggs
do
Prices paid:
Production items
do....
All commodities and services, interest, taxes, and
wage rates (parity index)
1910-14=100..
Parity ratio §
. do .
609
616
622
624
612
601
635
621
614
615
641
660
658
663
r
524
555
549
559
548
545
601
583
579
579
593
599
592
601
r
605
r
677
r
575
r
630
469
378
401
649
654
534
453
407
474
749
510
447
423
464
701
537
466
423
476
698
528
460
396
475
582
566
464
380
441
595
566
490
410
597
619
533
490
414
394
670
540
476
412
433
657
564
476
405
443
722
568
476
397
527
815
529
479
399
479
843
555
473
391
473
771
595
483
399
481
665
498
'412
r
497
1444
659
621
563
629
507
406
595
1,489
1,513
1,517
1,526
1,521
1,521
1,465
1570
1,521
1,478
1,465
1469
1457
1448
696
831
876
252
678
829
830
269
698
826
891
236
691
813
874
252
679
807
848
257
659
807
806
262
669
813
813
278
660
826
781
294
649
844
758
283
651
850
742
312
689
844
804
335
724
832
853
373
726
820
869
364
727
807
890
339
r
865
884
885
888
887
881
886
889
885
891
895
901
903
910
r
1,076
57
1,105
1,102
1,106
1,107
1,104
1,112
1,110
1,119
1,128
1,132
1,138
56
56
56
55
54
1,108
57
56
55
55
57
59
58
58
58
58
288.6
297.4
294.9
296.3
297.2
298.2
299.5
300.8
301.3
301.4
301.5
302.7
303.3
303.3
304.1
305.4
289.1
298.4
295.5
297.1
298.1
299.3
300.3
301.8
302.6
303.1
303.5
305.2
306.6
307.3
308.8
309.7
273.3
2884
286.8
283.5
2983
295.1
280.8
2947
292.3
282.4
2965
293.9
283.4
2978
294.9
284.5
2993
296.0
285.4
3005
297.0
286.8
3023
298.5
287.5
3032
299.3
287.8
3039
299.7
288.1
3040
300.0
289.8
3048
301.6
291.4
3059
302.9
291.9
3068
303.6
293.2
3086
305.1
294.0
3100
306.0
1,116
725
801
r
881
353
912
1,141
1519
697
789
861
303
910
1,141
CONSUMER PRICES
(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)0
1967=100..
Special group indexes:
All items less shelter
do....
All items less food 0
do
All items less medical care 0
do....
See footnotes at end of tables.
SURVEY OF CURRENT BUSINESS
S-6
Unless otherwise stated in footnotes below, data
through 1982 and methodological notes are as
shown in BUSINESS STATISTICS: 1982
1982
1984
1983
1983
Annual
June 1984
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
COMMODITY PRICES—Continued
CONSUMER PRICES— Continued
(U.S. Department of Labor Indexes) —Continued
Not Seasonally Adjusted
All items (CPI-U)—Continued
Commodities 0
1967—100
Nondurables
do....
Nondurables less food
do....
Durables 0
.
do
Commodities less food 0
do....
Services 0
do
Food #
do....
Food at home
do
Housing 0
do
Shelter #0
do....
Rent residential
do
Homeowners' cost *
Dec. 1982—100..
Fuel and utilities #
1967—100
Fuel oil, coal, and bottled gas
do....
Gas (piped) and electricity
do....
Household furnishings and operation 0
do....
Apparel and upkeep
-.
do....
Transportation
do....
Private
do
New cars
do....
Used cars
do....
Public
do
Medical care
do....
Seasonally Adjusted *
All items percent change from previous month 0
Commodities 0
1967 — 100
Commodities less food 0
do
Food
do....
Food at home
do
Apparel and upkeep
do
Transportation
do
Private
do....
New cars
do
Services 0
do
PRODUCER PRICES §
(U.S. Department of Labor Indexes)
Not Seasonally Adjusted
All commodities
1967=100..
By stage of processing:
Crude materials for further processing
do....
Intermediate materials, supplies, etc
do....
Finished goods $
do
Finished consumer goods
»
do....
Capital equipment
do....
By durability of product:
Durable goods
do
Nondurable goods
do....
Total manufactures
do
Durable manufactures
do
Nondurable manufactures
do
Farm prod., processed foods and feeds
do....
Farm products
do
Foods and feeds, processed
do....
Industrial commodities
do
Chemicals and allied products
do....
Fuels and related prod., and power
do....
Furniture and household durables
do....
Hides, skins, and leather products
do....
Lumber and wood products
do
Machinery and equipment
do....
Metals and metal products
do....
Nonmetallic mineral products
do....
Pulp, paper, and allied products
do....
Rubber and plastics products
do....
Textile products and apparel
do. .
Transportation equipment # ....Dec. 1968=100..
Motor vehicles and equip
1967=100..
Seasonally Adjusted f
Finished goods, percent change from previous
month
By stage of processing:
Crude materials for further processing 1967=100..
Intermediate materials, supplies, etc
do....
Finished goods #
do
Finished consumer goods
do
Foods
do....
Finished goods exc foods
do
Durable
do.. .
Nondurable
do
Capital equipment
do
PURCHASING POWER OF THE DOLLAR
As measured by:
Producer prices . .
1967—$! 00
Consumer prices 0
do....
See footnotes at end of tables.
263.8
273.6
261.6
241 1
250.9
3333
285.7
2792
3147
337.0
2240
3508
667.9
393.8
233.2
191.8
291.5
2875
197.6
296.4
346.0
328.7
2715
279.0
266.3
2530
259.0
3449
291.7
2822
3231
344.8
2369
102.5
3703
628.0
428.7
238.5
196.5
298.4
2939
202.6
329.7
362.6
357.3
269.2
277.3
263.0
248.7
255.4
3412
291.9
2834
3203
341.7
2345
101.7
3636
610.6
420.5
239.0
195.5
292.3
2875
201.1
312.7
361.1
353.5
270.9
279.3
266.3
2495
257.6
3426
292.4
2838
321.8
342.7
2351
102.0
3693
621.0
429.1
238.4
196.1
296.2
2917
201.6
317.1
359.2
354.3
271.6
279.7
267.3
2512
258.9
3440
292.0
283.0
323.1
343.6
2359
102.2
3736
620.0
437.4
238.6
195.6
298.3
2938
201.6
322.7
361.2
355.4
2725
280.3
268.4
252.9
260.2
3456
292.0
282.8
324.5
345.3
2371
102.7
3755
619.3
440.5
238.9
195.0
300.4
2960
201.4
329.6
363.2
357.7
273.4
281.0
269.6
254.3
261.4
3468
292.2
282.5
324.8
346.6
2382
103.0
3751
619.0
439.1
238.0
197.3
302.4
2980
202.1
336.8
365.0
360.0
274.5
281.8
270.6
256.4
262.9
3490
292.6
282.5
326.4
348.5
2395
103.5
3764
623.2
440.5
238.9
200.4
303.7
2992
202.7
343.9
366.6
361.2
275.0
281.7
270.2
258.7
263.6
3502
292.9
282.3
326.8
349.8
2404
103.9
374.4
624.7
435.6
239.4
200.7
305.0
3004
204.3
350.4
368.2
362.9
275.2
281.1
269.5
261.0
264.1
3510
292.5
281.4
327.0
351.1
241.3
104.3
371.3
623.9
428.2
239.9
200.7
306.3
3017
206.2
356.1
370.3
364.9
275.5
281.2
268.5
261.8
263.8
3516
293.9
283.0
327.4
351.8
242.0
104.5
370.6
623.9
427.5
240.5
199.3
306.3
301.8
207.0
357.6
369.0
366.2
276.8
283.2
267.4
261.4
263.0
353.9
299.4
290.2
329.2
353.2
242.9
104.9
376.0
642.8
427.3
240.4
196.4
306.0
300.9
207.2
357.3
378.2
369.5
278.3
285.3
269.1
260.9
263.8
355.3
302.1
293.6
331.0
354.0
243.6
105.1
383.0
688.6
429.0
240.4
196.2
305.8
300.8
207.2
357.2
377.4
373.2
278.7
285.5
269.3
262.2
264.4
356.5
302.2
293.1
321.5
355.5
244.8
105.6
380.1
660.0
429.5
241.2
198.8
306.9
301.9
207.2
362.2
377.4
374.5
280.1
286.3
270.7
265.2
266.5
358.1
302.3
292.8
333.2
357.8
246.4
106.2
3809
650.7
432.3
242.3
199.2
309.6
304.8
207.4
370.0
377.1
375.7
280.4
286.1
271.1
267.0
267.4
359.9
301.4
290.7
334.6
358.9
247.2
106.5
3855
649.2
441 .4
242.4
198.9
312.2
307.4
207.6
378.0
379.8
376.8
0.7
2690
255.5
291.5
2829
1947
2937
289.1
2014
3419
0.4
2704
2574
292.1
2834
1957
2964
292.1
201 1
3428
0.2
2707
258.1
291.5
2821
1963
2973
292.9
2013
3439
0.4
2716
259.5
291.2
2815
1973
2987
294.2
2017
3455
0.4
272 6
260.8
291.7
2816
1979
3008
296.4
2033
3468
0.4
2736
262.0
292.3
2818
1982
3028
298.4
2049
3482
0.4
2745
262.8
293.5
2828
1982
3044
300.0
2055
3495
0.4
2751
263.4
294.1
2830
1985
3055
301.1
2053
3514
0.2
2758
263.7
295.4
2844
1985
3061
301.7
2057
3524
0.6
277 7
263.9
300.2
2912
1990
3067
301.7
2056
3541
0.4
2786
264.3
302.2
2937
1985
3066
301.7
2064
3556
0.2
2791
265.1
301.8
2927
1986
3094
304.6
2074
3567
0.5
2801
266.7
301.7
2922
1985
3112
306.6
2076
3586
0.2
2801
267.2
300.9
2903
1986
3127
307.9
2072
3599
299.3
303.1
300.6
301.5
302.4
303.2
304.7
305,3
306.0
305.5
306.1
'308.0
308.8
311.1
311.4
311.7
319.5
310.4
2807
281.0
279.4
323.6
'312.3
2852
284.6
r
287.2
325.8
308.7
2831
282.3
286.2
325.8
309.7
2842
283.6
286.5
323.3
311.3
2850
284.6
286.7
320.6
312.8
2857
285.2
287.2
327.1
314.0
2861
285.7
287.7
328.5
315.5
2851
285.1
285.1
324.8
315.6
2876
287.0
289.9
324.0
315.5
2868
285.9
290.0
327.5
315.7
2872
286.3
290.4
'333.5
'316.3
'2895
'288.9
'291.6
332.8
317.4
2906
290.1
292.5
339.4
319.5
2917
291.4
292.7
340.1
320.2
2914
290.6
294.1
338.5
32108
2915
290.7
2943
2790
315.3
2927
2798
3064
248.9
2424
251.5
3123
292.3
693.2
206.9
262.6
2847
278.8
301.6
320.2
288.7
241.4
2046
249.7
251.3
2867
'315.7
2957
2873
3044
253.9
2482
'255.9
'3157
'293.0
'664.7
'214.0
'271.1
'307 1
286.4
'307.2
'325.2
'2981
'243.2
'2051
256.7
256.8
2853
312.4
2927
2860
2997
254.7
2505
256.0
3124
291.3
644.8
212.8
267.4
3072
285.4
304.6
324.1
2954
243.0
2035
255.6
255.9
2860
313.5
2937
2867
3010
254.7
2504
256.1
3136
291.1
651.9
213.6
269.4
3080
286.0
306.1
324.1
2960
243.2
2043
255.8
256.2
2867
314.5
2950
2873
3031
252.5
2474
254.3
3153
290.8
665.5
214.0
271.2
3148
286.2
306.3
324.5
2970
243.1
2047
256.1
256.5
2874
315.4
2961
2880
3045
251.5
2443
254.4
3165
293.7
668.7
214.8
272.3
3146
287.4
307.3
325.1
2978
243.4
2053
256.2
256.6
2878
317.8
2969
2883
3059
255.5
2535
255.5
3173
294.4
671.7
214.9
2747
3139
287.4
308.2
326.3
2988
243.7
2060
256.8
256.8
2868
319.7
2972
2872
3078
259.1
2564
259.6
3171
295.9
672.3
215.4
2744
3056
287.9
310.7
327.2
2999
243.2
2062
250.4
249.1
2892
319.1
2985
2896
3077
257.5
2552
257.8
3185
2955
669.5
215.3
2737
3056
2876
310.9
328.0
3022
244.4
2070
260.6
260.6
2893
318.1
2984
2898
3074
256.0
251 0
257.6
3183
2964
663.7
215.7
277 0
3049
2880
310.9
3289
3036
243.6
2077
260.5
260.5
2901
318.4
2988
2905
3075
257.9
2540
259.0
3184
2977
658.0
215.7
2773
3087
2888
311.9
3289
3040
243.8
2078
260.7
260.6
'2910
'321.2
3000
'2913
'3091
264.4
'2634
'263.8
'3191
'2981
'652.1
'216.8
'2791
'3091
'2897
'312.9
'3301
'3091
'244.8
'2082
'261.5
'261.1
2922
321.7
3010
2924
3100
2635
261 5
2635
3204
2967
656.7
216.9
2832
3156
2904
314.6
3323
3105
245.4
2093
262.3
261.2
2932
325.0
3027
2933
3125
2683
2674
2678
3219
3008
659.6
217.4
2870
3160
2912
316.6
3336
3127
246.1
2099
262.4
261.3
2940
324.9
3030
2941
3123
2937
3215.6
303 7
2939
3140
26163
2608
2683
32133
3C>25
6(612.7
218.9
2892
3088
2928
317.1
3373
3170
247.4
2105
262.7
261.5
0356
0.346
0351
0.335
2679
2654
2682
3225
3018
656.5
217.9
2874
3154
2924
317.8
3356
3153
246.5
2096
262.9
261.8
0.0
0.3
0.4
00
04
01
02
-01
02
06
04
05
00
00
323.2
307.9
2833
2826
263.1
2877
2327
3290
2859
321.6
309.1
2841
2835
262.0
2895
2331
3320
2865
321.1
311.3
2852
2847
260.5
2921
2338
3360
2870
317.9
312.2
2852
2846
259.3
2925
2341
3367
2875
325.0
313.4
2863
2855
260.2
2935
2347
3379
2888
328.8
3153
2866
2861
262.1
2934
2344
3379
2885
329.2
3162
287 1
2866
2648
2928
2330
3381
2886
330.4
3166
2869
2863
2639
2929
2338
3375
2890
333.6
3171
2874
2867
2658
2924
2340
3365
2898
'336.0
'3170
2891
2887
'2728
2920
2340
3357
'2905
331.1
3174
2902
2897
2745
2926
2353
3359
2919
337.7
3191
291 6
2913
2767
2938
2373
3363
2929
337.5
3193
291 6
2909
2751
294 i
2372
3370
2938
334.3
3202
291 5
2906
2719
2952
2368
3393
2944
0353
0338
0352
0337
0351
0335
0350
0334
0350
0333
0351
0331
0348
0330
0349
0330
0348
0329
'0345
0328
0344
0326
0343
0325
0343
0324
0343
0323
Unless otherwise stated in footnotes below, data
through 1982 and methodological notes are as
shown hi BUSINESS STATISTICS: 1982
S-7
SURVEY OF CURRENT BUSINESS
June 1984
1982
1983
1983
Annual
Apr.
May
June
July
Aug.
1984
Sept.
Oct.
Nov.
Dec.
Jan.
21,458
17840
8484
7259
19194 '19,782 '22,530 23,893
16019 '16
558 '18 939 19915
8212 r8,485 ^,955 10584
6705 r6675 •7704
8100
Feb.
Mar.
Apr.
May
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 redevelopment
do
Industrial....'
do
Military facilities
do .
Highways and streets
do
New construction (seasonally adjusted at annual
rates) total
bil $
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.)
1977=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: t
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 @
Unadjusted
thous
Seasonally adjusted at annual rates
do
CONSTRUCTION COST INDEXES
Dept. of Commerce composite
1977=100..
American Appraisal Co., The:
Average 30 cities
1913—100
Atlanta
do....
New York
do
San Francisco
do....
St. Louis
do....
Boeckh indexes:
Average, 20 cities:
Apartments hotels office buildings 1977 — 100
Commercial and factory buildings
do
Residences
do
Engineering News-Record:
Building
1967=100..
Construction
do
Federal Highway Adm.—Highway construction:
Composite (avg. for vear or qtr.)
1977=100..
See footnotes at end of tables.
232,049
180 979
74,810
51916
262,667
212 287
110,708
85189
19,597
16071
8,221
6066
21,461
17382
9222
6799
23,578
18966
10167
7743
24,389
19558
10,991
8361
26,123
20549
11,600
8753
26,507
21015
11,872
8884
24,352
19651
10,721
8569
23,514
19019
9,952
8337
65134
17343
37284
61 117
13 144
36269
4733
1074
2770
4797
1068
2812
5184
1 131
3108
5158
1066
3135
5547
1244
3242
5489
1 156
3236
5293
967
3231
5,458
1058
3321
5287
1 111
3185
4957
961
3010
5130
1010
3141
'5661
'1 132
'3476
6044
1088
3876
7,110
51070
16,997
1658
1632
2205
13521
6,430
50381
501
3526
1332
136
137
212
770
547
4079
1423
137
154
199
1 115
581
4612
1523
133
152
161
1 415
517
4831
1,537
120
166
239
1547
397
5574
1,683
151
137
207
2023
587
5492
1600
147
200
253
1866
588
4701
1,456
151
143
192
1694
606
4495
1,430
141
145
268
1326
662
3617
1,312
136
135
233
802
391
3175
1,259
110
121
216
590
464
3224
1,241
120
136
218
613
531
'3591
'1,306
'123
137
251
'734
3978
1,374
114
155
247
1009
2474
1995
102.0
773
2548
2060
107.5
822
2643
2147
113.5
879
2742
2228
122.3
927
2820
2285
127.1
948
2854
2326
129.1
950
2656
2170
116.5
921
2658
2149
110.4
919
2653
2155
108.0
926
2757
2250
116.9
952
'2922
'2394
'128.5
'1005
'3020
'2469
'133.3
'1020
3025
2482
1319
1033
576
132
33.6
576
130
33.3
600
131
35.9
593
122
35.9
625
142
36.3
626
132
36.9
589
105
36.1
624
12.3
38.1
640
129
39.0
670
131
40.9
697
139
42.7
'731
'145
'45.2
740
13 4
474
63
47.9
168
16
1.6
2.8
129
6.6
48.7
173
16
1.7
2.3
130
6.5
49.6
174
16
1.7
1.9
129
6.3
51.4
177
1.4
2.0
2.7
141
4.3
53.5
183
18
1.7
2.3
159
6.5
52.8
172
18
1.9
2.7
159
6.5
48.6
168
18
2.0
2.5
146
6.9
50.9
165
16
2.1
3.2
144
8.0
49.8
160
16
16
30
148
5.9
50.7
172
14
14
28
137
6.6
52.8
170
16
20
27
149
6.2
'55.2
'17 1
'15
16
32
'166
54.3
173
13
18
32
167
!9 205 20339
150
151
'4410
5070
r
!4 795 15270
17028
137
4162
12866
18597
'154
4621
13976
17388
143
4369
13019
16227
139
3806
12421
15365
145
3307
12058
13422
'134
3138
10284
13751
'150
2700
11051
14 155
150
3790
10365
17577
144
3860
13716
17425
145
3716
13710
22326
168
5608
16719
'5 201
8594
'5,410
6334
10158
3,847
5312
' 8471
3,246
6006
9257
3,334
5437
8644
3,308
5795
8221
2,210
5511
7575
2,280
4741
6482
2,200
5300
6600
1,851
4249
6800
3,106
5849
8806
2,921
5405
9330
2,690
7212
10799
4,315
17231
1678
1800
2536
14 177
r
156 240
412
41256
114 984
192 751
45308
147 442
16315
'129
3638
12678
59594
59210
37,436
61905
93201
37,645
4394
7859
4,062
149,206
162 576
10930
11 165
13185
9729
13206
12902
12744
16795
24714
12685
17259
16851
13619
10720
10622
662.6
17124
17030
1,067.6
1364
1358
93.2
1755
1749
114.9
1738
1732
114.2
1620
1616
100.4
1777
1768
109.9
1568
1549
97.2
1599
1593
91.9
1364
1360
81.9
1085
1083
61.0
1092
1091
67.7
1304
1300
81.0
'138 1
'1375
'87.8
1709
'1706
'106.0
1798
111.3
1,549
1030
1779
1 150
1743
1 124
1793
1048
1873
1 124
1679
1038
1672
1017
1730
1074
1694
1021
1980
1301
2262
1463
'1662
'1071
'1990
r
l 191
1782
1 093
uss
r
1000
546
1605
902
1556
860
1660
943
1764
1,010
1752
930
1671
900
1540
864
1 650
905
1649
919
1 602
913
1 799
989
1 902
1,083
2396
2956
25 1
284
268
289
295
299
234
296
302
307
28 1
305
268
308
235
313
187
310
200
314
222
293
255
287
258
287
154.1
157.1
156.8
155.3
154.2
156.8
158.4
158.9
158.5
157.3
158.6
159.9
1603
1614
1619
1 727 '1758
974
'957
1 735
898
*
1500
1519
1475
1596
159.9
1562
330.6
3561
352.9
3786
146.8
146.5
1577
159.0
1554
347.4
3725
347.9
3726
1620
161.6
1578
353.5
3792
143.1
357.3
382.5
1632
1625
1585
359.4
3847
359.7
385*6
146.8
1633
1626
1588
357.6
3842
358.3
3848
1649
1641
1627
356.1
3826
149.7
355.5
3825
165 1
1646
1628
356.2
3829
357.1
3834
149.3
1664
166 1
1633
358.5
3847
2
358.1
2
3856
SURVEY OF CURRENT BUSINESS
S-8
Unless otherwise stated in footnotes below, data
through 1982 and methodological notes are as
shown in BUSINESS STATISTICS: 1982
1982
1983
1984
1983
Apr.
Annual
June 1984
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
CONSTRUCTION AND REAL ESTATE—Continued
REAL ESTATE 0
Mortgage applications for new home construction:
FHA net applications
....
thous units
Seasonally adjusted annual rates
do....
Requests for VA appraisals
Seasonally adjusted annual rates
Home mortgages insured or guaranteed by:
Fed Hous Adm • Face amount
Vet. Adm.: Face amount §
do....
do
155.0
1761
262.8
16.5
15 1
187
156
22.7
249
22.4
245
2
19.0
2
16.8
145
168
11.2
9.7
136
10.3
134
139
11.4
11.1
148
9.6
139
12.9
218
11.9
209
20.3
212
26.3
293
22.7
266
28.0
288
21.4
255
17.3
205
17.9
204
16.5
259
15.0
201
21.2
260
24.3
263
17.8
193
19.5
214
146
128
116
mil $ 8 087 07 26 571 82 2 447 06 1 637 70 3 427 90 2 464 19 2 174 87 3 933 79 2 190.42 2 674.40 1,580.28 1,169.61 1,516.84 2,431.43 1,184.70 1,229.58
do.... 5,428.27 17 896.60 1 189.71 1 910 77 1,541.01 1 223.94 2,193 18 2,091.70 1,934.18 1,598.29 1,447.58 1,543.78 1,449.02 1,201.61 1,113.53 1,080.92
Federal Home Loan Banks, outstanding advances
to member institutions, end of period
mil. $..
New mortgage loans of all savings and loan
associations, estimated total
By purpose of loan:
Home construction
Home purchase
..
All other Durooses
99.8
66,004
58,953
59,371
58,628
58,800
58,264
57,377
57,862
58,560
57,712
58,953
57,397
57,171
57,608
59,424
r
mil. $..
54,298
135,290
10,475
10,997
14,186
12,854
13,992
13,637
11,070
11,175
14,483
10,249
10,367
!3,593
13,218
do
do
do....
11765
21,779
20.754
26096
53982
55.212
2273
3839
4.363
2 252
4438
4.307
2605
5783
5.798
2302
5512
5.040
2481
6327
5.184
2437
5648
5.552
2155
4,810
4.105
2162
4,516
4.497
2760
5229
6.494
1788
3953
4.508
1904
3,702
4.761
r
2368
r
2265
5,421
5.532
4489
242
477
4,,4
38.5
346
447.0
220
465
4.3
37.3
385
3682
169
401
2.1
29.4
262
2652
74
330
3.3
27.7
184
3251
425.1
256
300
372
22.0
24.9
16.3
86
7.8
2.5
21
237
136
8.0
3.4
17
374.2
261
41.1
5.1
35.7
26.2
29.9
103.0
3476
326
196
80
37.1
227
173
182
4.5
21
280
157.4
33.3
209.4
31.9
202.8
31.2
163.1
32.0
122.4
25.3
160.4
1686
1690
2074
625
282
1,166
2,016
1872
1589
1723
1,227
1226
5,004
'6.221
€11,627
DOMESTIC TRADE
ADVERTISING
Magazine advertising (Publishers Advertising
Report, Inc.):
Cost total
mil $
Apparel and accessories
do
Automotive incl accessories
do
Building materials
do
Drugs and toiletries
do....
Foods soft drinks confectionery
do
34289
1557
3335
522
330.6
2638
39391
2062
4045
523
383.6
2923
3309
173
362
50
36.2
207
3747
15 7
456
70
39.5
249
2955
90
346
25
30.8
216
2493
89
245
34
27.3
232
2500
200
226
29
28.6
182
Beer wine liquors
do
Houshold equip., supplies, furnishings .. . do....
Industrial materials
do....
Soaps cleansers etc
do
Smoking materials.
.
do....
All other
do....
2576
147.4
50.9
266
358.6
1,452.0
2426
175.7
43.7
253
397.8
1,714.9
196
205
196
4.4
26
382
215
146
11.5
10.6
130
7.2
2.7
21
17694
4852
2452
10,390
17.2
3.3
26
2.9
15
36.0
136.8
156.3
36.4
121.6
20582
6006
2734
11841
1584
1825
1742
mil. $.. 1,137,175 1,183,790
do.... 467,107 504,810
do.... 670,068 678,980
90,803
38,479
52,324
Newspaper advertising expenditures (Newspaper
Advertising Bureau, Inc.):
Total *
mil $
Classified
do
National
...
do
Retail
..
do
472
226
886
532
255
1038
522
228
992
2.5
11
35.3
98.0
1612
540
192
880
539
194
954
515
220
956
5.7
36
6.0
28
516
273
4.3
17
440
206
539
224
825
174
349
2.6
34.1
266
495
8.8
40.6
13.9
3.2
36
260
205
217
5.1
29
33.7
167.3
37.6
185.9
r
115,399
r
50,634
r
108,417
48,784
59,633
164
562
237
924
WHOLESALE TRADE f
Merchant wholesalers sales (unadj.), total
Durable goods establishments
Nondurable goods establishments
Merchant wholesalers inventories, book value,
end of year or month (unadj.), total
mil. $
Durable goods establishments
do....
Nondurable goods establishments ..
... . do....
RETAIL TRADE J
All retail stores:
Estimated sales (unadj ) total
See footnotes at end of tables.
750 072
132,581
249,257
103,547
59873
221 687
51,774
788 825
142,997
259,441
103,121
4823
18454
3912
63030
10,591
21392
8,227
51,387
104,715
35,967
19,394
54,005
115,710
38,766
19690
4,266
9,582
3,094
1530
95,125
30671
51301
182 607
46,106
94,672 103,062 102,862 106,051 105,762 107,361 104,313 103,183
40,811 44,809 44,754 46,300 45,620 45,621 43,165 44,848
53,861 58,253 58,108 59,751 60,142 61,740 61,148 58,335
64,765
r
119 421 115 115 112 624 112 130 112 019 112 420 114 993 117 778 118,566 119 421 119 818 121,319 !22,637 123,801
75,432 74048 73,228 73,371 73,339 73,368 74,769 74,582 74,417 75,432 75,185 76,295 •78,266 78,921
43989 41067 39396 38759 38680 39052 40224 43,196 44,149 43989 44633 45,024 '44,371 44,880
mil $ 1 074 561 1 173 966 93856
324 489 385 141 30826
Durable goods stores & ..
do
Building materials, hardware, garden supply,
and mobile home dealers
mil ij>
Automotive dealers
...
do
Furniture, home furn., and equip
do....
Nondurable goods stores . .
do
General merch. group stores
do....
Food stores
do....
Gasoline service stations
,
do....
Apparel and accessory stores
do....
Eating and drinking places
do....
Drug and proprietary stores
do....
Liquor stores
.
do....
Estimated sales (seas, adj.), total
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
Motor vehicle and miscellaneous
auto dealers
.
Auto and home supply stores
Furniture, home furn., and equip. #
Furniture home furnishings stores
Household appliance, radio, TV
116,765
75,633
41,132
98,304 103,032
40870 44,858
57,434 58,174
4,798
3486
'767
97831 100 605
33201 35568
99444 100 131
33387 33587
5721
19644
3953
64630
11,297
21505
8,768
4,264
9,898
3,147
1555
97239
31705
5999
21293
4,153
65037
11,263
21,868
9,013
4,178
10,070
3,164
1608
98,638
32790
66057
10,665
23,049
9,368
4,043
10,520
3,126
1703
98,832
32597
5,131
3656
816
19,236
5,117
3688
97926 100 658 103 865 125 759
32769 33593 34002 38 188
93089
31 170
93686 104 294 '103 944 410361
32931 '36 667 '37 158 MO 200
31951
4329
5 103
4863
4 141
5557
5446
18659 19219 19036 18910 18792 20607
6,207
4,899
4,279
4,129
4,428
4,342
65 157 67065 69863 87571 61919 60755
8,853
9,150
11,199 12,063 14,755 23,492
21878 21,780 21,501 24304 21 110 20845
8,917
8,569
8,836
8,839
8,340
7,948
4,617
5,169
7,910
3,765
3,630
4,312
9,941 10,113
9,494
9,724
9,210
9,232
4,428
3,249
3,231
3,134
3,168
3,251
2470
1404
1611
1603
1689
1481
99537 100,923 101,896 102 438 106 602 105 482
32905 33882 34641 35532 37 127 36909
825
18,901
5,094
3676
812
18,053
5042
3638
809
18857
805
19620
5,188
3751
826
20286
5293
3826
843
21 164
5494
4042
874
22033
5591
19621
4,279
5660
19207
4544
66544
11,521
21 921
9,356
4,555
10,420
3,201
1656
98277
do....
17,689
5,032
3582
808
18,350
do. .
do....
do....
do
do....
16013
1,676
16590
1760
17455
1,781
17092
1,809
16237
1816
17034
1823
17780
1,840
18388
1,898
19201
1963
20041
1992
4 143
2427
1,382
4201
2464
1,414
4,224
2477
1,420
4,340
2548
1,465
4408
2621
1,454
4413
2638
1,444
4,476
2715
1,444
4,510
2684
1,500
4629
2737
1,557
4791
2829
1,622
5,102
3681
5630
4215
830
r
5,070 '5692 '6,540
22 801 '22 794 *24 438
'4,594 '4,430 '4,625
r
'67 627 '66 786
'11,174 '11,759
'22 985 '21 865
'8,579 '8,544
'4,413 '4,868
'10,207 '10,159
'3,383 '3,415
'1529
1502
'103,873 '107 097
'70 161
42,755
'23 246
'8,971
'4,897
40,687
1
3,507
407288
'35306 '37 319 137 395
'5523
'4098
'814
'5657
4164
837
1
5648
21983 '20 505 '22 012 '22 185
20060 '18 650 '20 151 120 256
1923 '1855
1861
4644 '4660 '4905 '4778
2707 '2723
2855
1,592
'1,593
1,685
Unless otherwise stated in footnotes below, data
through 1982 and methodological notes are as
shown in BUSINESS STATISTICS: 1982
S-9
SURVEY OF CURRENT BUSINESS
June 1984
1982
1984
1983
1983
Apr.
Annual
May
June
July
Aug,
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
67041
12112
9*893
778
21992
20669
8731
4570
679
1,831
788
9924
3297
1661
67,255
12317
10026
804
21,978
20642
8673
4676
696
1,895
793
9983
3311
1682
66906
12330
10042
786
21754
20410
8759
4665
685
1,888
788
9714
3258
1699
69475
12835
10546
836
22468
21 189
8751
4704
698
1,901
814
10268
3434
1689
68573
12786
10489
830
22,266
20958
8667
4747
678
1,955
807
10281
3405
1583
'68 567
'12 374
'10 152
'792
'22 444
'21 086
'8835
'4 794
'702
1,950
'809
'10 156
'3400
'1608
'69,778
'12 830
10 552
800
'22,833
'21 405
'8790
'5001
766
2,018
792
'10 200
'3528
1645
May
DOMESTIC TRADE—Continued
RETAIL TRADE $—Continued
All retail stores—Continued
Estimated sales (seas, adj.)— Continued
Nondurable goods stores
mil $
General merch group stores
do
Department stores
do
Variety stores
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
do
Drug and proprietary stores
do
Liquor stores
do
Estimated inventories, end of year or month:
Book value (unadjusted), total
mil. $..
Durable goods stores #
do....
Building materials, hardware, garden
supply, and mobile home dealers
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....
Book value (seas, adj.), total
do....
Durable goods stores #
do....
Building materials, hardware, garden
supply, and mobile home dealers
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
mil. $.
Durable goods stores
do .
Auto and home supply stores
do....
Nondurable goods stores #
do....
General merchandise group stores
do....
Food stores
do
Grocery stores
do
Apparel and accessory stores
do....
Eating places
do
' Drug stores and proprietary stores
do....
Estimated sales (sea adj ) total #
do
Auto and home supply stores
do
Department stores
do....
Variety stores .
do
Grocery stores
do....
Apparel and accessory stores
do....
Women's clothing, spec, stores, furriers . do .
Shoe stores
do
Drug stores and proprietary stores
do....
64454
11 415
9313
751
21326
20069
8395
4447
687
1,719
767
9468
3183
1604
65 534
11694
9542
765
21572
20 287
8690
4560
706
1,770
775
9536
3 185
1608
65848
11871
9721
762
21673
20402
8675
4546
685
1,747
781
9581
3209
1621
66235
11845
9666
784
21915
20618
8739
4467
680
1,726
769
9723
3253
1633
66326
11878
9709
'774
21819
20505
8851
4430
657
1,706
768
9729
3273
1646
66632
12001
9784
781
21943
20611
8760
4451
659
1,734
783
9833
3306
1*675
122,163
56,176
132,302 126,613 128 167 128 908 128,360 129 869 134,195 140 005 143 866 132 302 132 916 138
310 142 707
62,820 58,201 59,440 59,876 58,546 57,998 59,604 61,577 63,968 62,820 '63,218 r65,990 67,397
9,470
25458
9297
65987
22,561
16747
14350
10,555
125,384
56,748
10,327 10,381 10,436 10,444 10,272 10,375 10,394 10,288 10,279 10327
29643 26328 26 903 27014 25776 24741 25781 27 130 28810 29643
9662
10132
9772
9918
9864 10 114 10249 10442 10713 10132
69482 68412 68 727 69032 69814 71871 74591 78428 79898 69482
24.467 25,427 25,677 25,577 26,072 27,175 28,636 30,664 31,552 24,467
18290 18944 19127 18994 19 243 20077 21 176 22752 23685 18290
14 501 13922 13983 14081 13987 13988 14333 14770 15079 14501
10/715 10,778 10,512 10,597 10,789 11,319 11,931 12,562 12,525 10,715
135,843 127,613 129,197 129,782 129,556 130,983 132,142 132,777 134,622 135,843
63,447 58,057 £18,796 59,120 58,614 59,400 60,627 61,048 62,441 63,447
9,824
25181
9,448
68,636
24,906
18403
14 180
11029
10,713
29350
10286
72396
27,060
20143
14329
11208
10,049
26223
9750
69556
25,859
19 155
13950
11032
10,112
26 221
9831
70 401
26,285
19 497
14 110
10 916
10,229
26 100
9918
70662
26,218
19521
14 166
11039
10,282
25496
9,984
70942
26,431
19676
14258
10998
10,396
26126
10084
71583
26,776
19977
14347
ll'032
10,542
27166
10098
71515
26,659
19846
14 449
11 140
10,424
27979
10031
71729
26,641
19767
14 396
11*307
10,425
28810
10281
72181
27,237
20244
14416
11233
10,713
29350
10286
72396
27,060
20 143
14329
11208
389 715
28212
4,059
361,503
119,467
135 499
133 587
20,143
22138
19,410
415 631
32795
4,416
382,836
129,045
141 353
139 424
22,237
24354
2l',582
32663
2475
361
30,188
9,547
11720
11572
1,710
2033
1,696
33589
'347
8912
591
11446
1773
746
388
1,765
33 711
2723
371
30,988
10,213
11 604
11 456
1,704
2071
1,751
34 440
363
9 139
605
11,678
1811
761
392
1,772
33799
2814
393
30,985
10,175
11705
11557
1,689
2025
1,751
34557
361
9308
600
11627
1849
783
401
1,789
33768
2734
'394
31,034
9,568
12369
12220
1,624
2134
1,739
34646
'372
9243
608
11716
1832
775
395
1,813
34458
2791
'407
31,667
10,411
11 734
11587
1,926
2 140
1,760
34752
'387
9287
'605
11704
1815
762
395
1,824
34006
2721
379
31,285
10,083
11 883
11738
1*802
2083
1733
35032
376
9347
605
11738
1854
783
403
1,863
35122
2808
395
32,314
10,857
11 746
11595
1,890
2 147
1,747
35319
378
9467
609
11772
1880
805
412
1,866
38368
3079
396
35,289
13,366
11 803
11648
2,193
2053
1,844
35648
382
9589
622
11874
1935
837
414
1,893
51970
4467
414
47,503
21,353
13571
13*276
3,560
2099
2,717
35 456
385
9628
614
11544
1996
895
413
1,813
r
!0 433
r
30 200
10 017
r
69 698
r
24 609
18 437
14 293
10,744
137
977
r
63,749
10,923
r
31 969
10 230
r
72 320
r
26,498
19 880
14 275
11,384
142,731
r
66,513
11,250
32442
10288
75310
28,297
21406
14510 i
12*,163
143,704
66,915
10 800
29 695
10 337
r
74 228
'27,605
r
20 623
14 466
11 716
10,956
'31 842
10 449
r
76 218
'29,015
'21 798
14 404
12 098
10933
31 868
10 381
76 789
29,247
1 1 22 0911
14 452
12 399
30 668 '30 871
'2317 '2366
r
'316
311
r
28,351
'28
505
r
r
8,253
7,952
11 584 11 486
11 439 11 331
1*429 1,440
1 971 '2030
1,781 1*785
'37 047 '36 803
'381
'386
10 r099 '10 061
650
'651
12 143 '12 093
'2050 '2035
'907
'896
r
436
'428
1,930 1,938
35418
2 773
367
32,645
10,140
12 679
12*525
1,*848
2258
1*909
36251
377
9719
627
11986
2032
890
418
1,936
r
r
*69 893
12 896
10654
'22,712
'21 239
'8873
'5096
10227
1
3497
LABOR FORCE, EMPLOYMENT, AND EARNINGS
LABOR FORCE AND POPULATION
Not Seasonally Adjusted
Total noninstitutional population, persons 16
years of age and over *
thous
Labor force, total @
do
Resident armed forces *
do....
Civilian noninstitutional population *
do....
Civilian labor force, total
do ...
Employed
do
Unemployed
do
Seasonally Adjusted 0
Civilian labor force, total
do
Participation rate t
percent
Employed total
thous
Employment-population ratio t
percent. .
Agriculture
thous
Nonagriculture
do
Unemployed, total
do....
Long term, 15 weeks and over
do....
See footnotes at end of tables.
445-525 0 - 8 4 - 2
173 939
111 872
1,668
172,271
110 204
99526
10678
175 891
113 226
1,676
174,215
111 550
100 834
10717
640
640
57.8
3401
96125
-57.9
3383
97450
3,485
4,210
175 465
111 546
1,671
173,794
109 875
98840
11 035
175 622
111977
1,669
173,953
110308
99543
10 765
175 793
115 051
1*,668
174,125
113 383
101 813
11 570
175 970
115*644
1,664
174,306
113 980
103 273
10 707
176 122
115 260
1,682
174,440
113 578
103 167
10411
176 297
113 892
1,695
174,602
112 197
102 366
9830
176 474
113737
1,695
174,779
112 042
102 659
9 383
176 636
113 832
1,685
174,951
112 147
103 018
9 129
176 809
113 483
1,688
175,121
111 795
102 803
8992
177 219
112711
1,686
175,533
111 025
101 270
9755
177 363
113 052
1,684
175,679
111 368
101 961
9407
177 510
113 514
1,686
175,824
111 828
102 770
9 057
177 662
113 845
1,693
175,969
112 152
103 628
8 525
177 813
114 941
1,690
176,123
113 251
105 096
8 154
110 975 ] 10 950 111 905 111 825 112 117 112 229 111 866 112 035 112 136 112 215 112 693 112 912 113 245 113 803
638
643
639
642
643
643
640
640
640
639
64 1
642
644
64 6
99 606 99762 100 743 101 225 101 484 101 876 101 970 102 606 102 941 103 190 103 892 104 140 104 402 105 288
57.3
57.3
57.9
58.1
58.2
58.3
58.3
58.6
58.8
58.8
59.1
59.2
59.3
59.8
3374
3479
3499
3392
3449
3240
3257
3308
3356
3271
3395
3281
3393
3389
96214 96388 97264 97726 98035 98 568 98730 99349 99585 99918 100 496 100 859 101 009 101 899
11369 11,188 11,162 10600 10633 10353
9896
9429
9195
9026
8801
8772
8843
8514
4,510
4,486
4,396
3,527
4,398
4,078
3,889
3,655
3,369
2,873
3S201
2,984
2,855
2,851
S-10
SURVEY OF CURRENT BUSINESS
Unless otherwise stated in footnotes below, data
through 1982 and methodological notes are as
shown in BUSINESS STATISTICS: 1982
1982
June 1984
1984
1983
1983
Annual
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
LABOR FORCE, EMPLOYMENT, AND EARNINGS—Continued
LABOR FORCE-Continued
Seasonally Adjusted 0
Civilian labor force—Continued
Unemployed—Continued
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 *
Hispanic origin *
Married men, spouse present
Married women spouse present
Women who maintain families
Industry of last job:
Private nonagricultural wage and
salary workers
Construction
..
Manufacturing
Durable goods
Agricultural wage and salary workers * ....
Not Seasonally Adjusted
Occupation: *
Managerial and professional specialty
Technical, sales, and administrative
support
Service occupations
Precision production, craft, and repair
Operators fabricators and laborers
Farming, forestry, and fishing
EMPLOYMENT t
Employees on payrolls of nonagricultural estab.:
Total, not adjusted for seasonal variation ....thous..
Private sector (excl. government)
do....
Seasonally Adjusted f
Total employees, nonagricultural payrolls
do....
Private sector (excl. government)
do....
Nonmanufacturing industries
do....
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 trade
do
Retail trade
do....
Finance, insurance, and real estate
do....
Services
do
Government
do....
Federal .
do
State *
do....
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
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....
See footnotes at end of tables.
97
88
8.3
232
86
18.9
138
6.5
74
117
96
89
8.1
224
84
19.5
138
6.5
70
122
102
97
8.5
234
89
207
146
71
74
130
101
95
8.5
230
88
20.3
139
70
74
127
100
91
8.6
236
86
20.3
140
6.7
76
125
95
88
7.9
227
82
19.6
123
6.2
70
118
95
87
8.0
228
82
19.8
129
6.3
69
11.8
92
86
7.8
218
80
18.9
131
6.1
68
12.0
88
8.2
7.5
21.6
77
18.3
124
5.7
63
11.4
84
78
7.2
202
73
17.7
123
5.5
60
10.5
82
7.4
7.1
201
71
17.8
116
5.2
61
10.9
80
7.3
7.1
194
69
16.7
112
5.0
60
10.7
78
7.0
6.9
19.3
6.7
16.2
102
4.9
59
11.0
78
6.8
6.9
19.9
6.7
16.6
11.3
4.7
58
11.0
78
6.9
7.0
19.4
6.7
16.8
115
4.7
58
10.5
75
6.5
6.8
19.0
6.4
15.8
10.5
4.5
5.8
9.8
101
200
12.3
133
14.7
99
184
11.2
121
16.0
105
200
125
137
16.8
104
200
12.3
135
16.8
101
184
11.6
125
16.5
97
180
10.7
114
15.0
98
17.9
11.2
117
15.1
94
18.1
10.2
109
16.5
90
15.8
9.6
102
16.2
86
156
8.9
90
15.7
83
163
8.3
83
15.6
79
150
8.4
80
15.5
78
151
7.5
73
14.0
76
133
7.5
78
14.6
77
143
7.7
75
12.2
72
14.8
7.1
7.0
13.9
3.3
3.3
3.4
3.3
3.5
3.6
3.4
3.2
2.7
2.7
2.6
3.0
2.7
2.4
2.2
2.5
61
108
10.6
167
8.5
63
109
10.7
155
100
63
113
12.3
170
101
64
114
11.1
161
79
68
114
10.7
145
6.2
63
105
9.4
141
7.4
64
10.3
9.3
138
8.3
59
10.8
8.9
132
8.2
59
11.1
8.2
126
9.2
55
9.9
7.9
127,
10.8
52
9.6
8.4
130
12.0
57
9.9
10.0
139
13.6
56
9.5
10.0
137
11.5
52
9.6
9.1
12.8
11.2
50
9.2
8.1
11.9
8.6
4.7
8.7
7.4
10.9
6.8
r
89,566
r
73,729
'90,138 '89,064 '89,921 '90,738 '90,112 '89,842 '91,485 '92,049 '92,406 '92,645 '91,065 '91,612 '92,234 '93,234 "94,063
'74,287 '72,930 '73,750 '74,765 '75,001 '74,878 '75,901 '76,081 '76,294 '76,560 '75,209 '75,477 '76,030 '77,016 "77,845
'89,566
r
73,729
r
54,948
'23 813
'1,128
'3905
'18 781
'11 039
'597
'432
'576
^21
'1,426
'2243
'2,008
'1734
'715
'382
'7741
'1635
'68
'749
'1,161
r
662
'1,272
'1,075
'200
'696
'218
'65 753
'5,082
'5278
'15,179
'5,341
'19 036
'15,837
2739
'3,639
'9458
'90,138
'74,287
'55,790
'23 394
'957
'3940
'18 497
'10 774
'657
'446
'572
'838
'1,373
'2038
'2,023
'1 756
'694
'371
'7724
'1622
'68
'743
'1,164
'661
'1,295
'1046
'195
'718
'207
'66 744
'4,958
'5259
'15,545
'5,467
'19 665
'15,851
2752
'3,659
'9439
'59,487
'12 742
'60,021 '58,799 '59,576 '60,508 '60,678 '60,500 '61,510 '61,649 '61,830 '62,064 '60,699 '60,909 '61,384 '62,290 "63,048
'12 581 '12 239 '12396 '12 595 '12 527 '12 762 '13 014 '13 082 '13 117 '13 087 '13 034 '13 163 '13 280 '13 368 "13 471
'59,487
'16 561
'821
'2,998
'12 742
'7,311
'488
'341
'435
'683
'1028
'1,355
'1,212
'1,078
'410
'276
'60 021 '59 247 '59 519 '59 881 '60 202 '59 830 '60 748 '61 074 '61 371 '61 665 '61 948 '62 327
'16 284 '15 892 '16 014 '16 162 '16 315 '16 421 '16 532 '16 735 '16 881 '16 996 '17 155 '17 318
'678
'666
'663
'665
'670
'673
'674
'685
'686
'690
'694
'696
'3026 '2911 '2943 '3003 '3033 '3069 '3099 '3122 '3147 '3161 '3227 '3296
'12 581 '12 315 '12 408 '12 494 '12 612 '12 679 '12 759 '12 928 '13 048 '13 145 '13 234 '13 326
'7151 '6942 '7*020 '7078 '7165 '7224 '7289 '7421 '7511 '7585 '7643 '7718
'547
'525
'535
'548
'555
'564
'569
'578
'583
'587
'589
'592
'355
'345
'350
'353
'361
'361
'363
'373
'368
'376
'380
'384
'436
'427
'431
'435
'437
'442
'445
'450
'453
'454
'455
'462
'624
'614
'617
629
636
608
625
'651
'657
'665
'661
'666
r
996
'971
'980
'986
'993 '1 006 '1 Oil '1 028 '1 037 '1 049 '1 056 '1 062
'1,200 '1,157 '1,180 '1,184 '1,201 '1,214 '1,219 '1,236 '1,261 '1,273 '1,286 '1,300
'1,228 '1,192 '1,202 '1,214 '1,229 '1,228 '1,260 '1,281 '1,300 '1,313 '1,327 '1,346
'1,103 '1,066 '1,075 '1,087 '1,109 '1,122 '1,126 '1,160 '1,173 '1,192 '1,208 '1,221
'389
'386
'386
'389
'386
'386
'393
'397
'401
'399
'398
'403
'267
'267
'269
'265
'268
'269
'267
'272
'275
'278
'280
'282
'89,259
'73,433
'55,244
'22 949
'943
'3817
'18 189
'10 536
'633
'436
'563
'821
'1,345
'1987
'1,977
'1 715
690
'369
'7653
'1620
'70
733
'1,144
'656
'1,285
'1046
'198
'695
'206
'66 310
'4,993
'5204
'15,386
'5,445
'19 456
'15,826
'2741
'3,654
'9431
'89,578
'73,730
'55 432
'23 087
'940
'3849
'18 298
'10 623
'643
'441
'567
'827
'1,355
'2014
'1,989
'1 727
'690
'370
'7675
'1621
'70
736
'1,149
'658
'1,288
'1,045
'197
'704
'207
'66491
'5*001
'5220
'15,433
'5,460
'19 529
'15 848
'2753
'3,652
^443
'89,927
'74,091
'55,700
'23 241
•939
'3911
'18 391
'10 686
'657
'445
'570
830
'1,362
'2020
'2,006
'1736
'689
'371
'7705
'1625
'69
'743
'1,156
'659
'1,294
'1045
'196
'712
'206
'66 686
'5,005
'5241
'15*514
'5,464
'19 626
'15 836
'2744
'3657
'9435
'90 274
'74,452
'55 931
'23 414
'946
'3947
'18 521
'10 781
'665
'454
'573
'838
'1,369
'2039
'2,024
'1 757
'690
'372
'7740
'1626
'69
'745
'1,171
'661
'1,297
'1046
'195
'723
'207
'66860
'5,001
'5256
'15 580
'5,478
'19 723
'15 822
'2744
'3662
'9416
'89,918
'74,110
'55,513
'23532
'950
'3985
'18 597
'10 846
'675
'453
'578
840
'1,384
'2051
'2,022
'1776
'694
'373
'7751
'1621
'66
'751
'1,170
'663
'1,302
'1,046
'194
'730
'208
'66 386
'4,369
'5277
'15,626
'5,498
'19 808
'15 808
'2747
'3,668
'9393
'91,018
'75,083
'56,385
'23 669
'952
'4019
'18 698
'10 923
'680
'456
'581
849
'1,389
'2058
'2,062
'1780
'698
'370
'7775
'1624
'68
753
'1,174
'666
'1,305
'1,047
'194
'735
'209
'67 349
'5,046
'5301
'15,671
'5,503
'19 893
'15 935
'2774
'3672
'9489
'91,345
'75,481
'56,595
'23 895
'965
'4044
'18 886
'11 071
'690
'462
'587
'863
'1,408
'2077
'2,086
'1820
'702
'376
'7815
'1624
'68
'758
'1,186
'669
'1,311
'1049
'192
'748
'210
'67 450
'5,053
'5322
'15 737
'5,512
'19 962
'15 864
'2760
'3667
'9437
'91,688
'75,814
'56,796
'24 058
'967
'4073
'19 018
'11 170
'695
'467
'589
'869
'1,420
'2106
'2,109
'1832
'705
'378
'7848
'1629
'66
'760
'1,195
'671
'1,317
'1050
'192
'758
'210
'67 630
'5,043
'5344
'15,805
'5,530
'20 034
'15 874
'2759
'3669
'9446
'92,026
'76,157
'57,014
'24 198
'969
'4086
'19 143
'11 266
'698
'470
'592
'877
'1,431
'2122
'2,132
'1855
'707
'382
'7877
'1,631
'67
'762
'1,202
'675
'1,321
'1052
'191
'766
'210
'67 828
'5,055
'5371
'15,857
'5,546
'20 130
'15 869
'2762
'3668
'9439
'92,391
'76,533
'57,279
'24 383
'975
'4 154
'19 254
'11 343
'702
'475
'595
'871
'1,440
'2137
'2,152
'1876
'711
'384
'7911
'1,638
'66
'768
'1,207
'676
'1,328
'1053
'191
'774
'210
'68008
'5,095
'5406
'15,914
'5,573
'20 162
'15 858
'2760
'3670
'9428
'92,846
'76,971
'57,598
'24 577
'978
'4226
'19 373
'11 440
'706
'480
'604
'877
'1,447
'2151
'2,175
'1898
'715
'387
'7933
'1637
'65
'767
1,213
'680
'1,333
'1054
'190
'784
'210
'68 269
'5,105
'5438
'15 980
'5,593
'20 278
'15 875
'2763
'3681
'9429
'93,058
'77,185
'57,719
'24 595
'978
'4151
'19 466
'11 513
'712
'483
'606
'877
'1,456
'2166
'2,202
'1905
'718
'388
'7953
'1638
'66
'769
'1,218
'680
'1,339
'1054
'190
'790
'209
'68 463
'5,112
'5457
'16 030
'5,613
'20 378
'15 873
'2770
'3685
'9417
'62 443
'17 297
'698
'3211
'13 388
'7769
'599
'387
463
'666
'1 069
'1,314
'1,364
'1,221
'404
'282
'93,456
'77,551
'58,020
'24 763
'985
'4247
'19 531
'11 553
'714
'482
'605
'880
'1,460
'2189
'2,213
'1903
'719
'388
7978
'1647
'67
'767
'1,225
'680
'1,348
'1058
'189
'789
'208
'68 693
'5,131
'5474
'16 094
'5,640
'20 449
'15*905
'2773
'3693
'9439
'62 791
'17 448
'707
'3296
'13 445
'7804
'599
'387
'465
'669
'1 075
'1,329
'1,372
'1,221
'404
'283
"93,688
"77,798
"58,241
P
24 856
"993
P
4306
P
19 557
P
11590
"712
"484
'605
"887
"1,467
"2199
"2,229
"1 901
"721
"385
"7967
"1,641
"67
"763
"1,216
"681
"1,352
"1057
"189
"795
'206
"68 832
"5,141
"5496
"16 117
"5,650
"20 538
"15 890
"2767
"3701
"9422
"62 985
"17 533
"713
"3 345
"13 475
"7 836
"1598
"387
"464
"<375
"1 (383
"1,342
"1,385
"1,216
"405
"281
S-ll
SURVEY OF CURRENT BUSINESS
June 1984
Unless otherwise stated in footnotes below, data
through 1982 and methodological notes are as
shown in BUSINESS STATISTICS: 1982
1982
1983
Apr.
Annual
1984
1983
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
LABOR FORCE, EMPLOYMENT, AND EARNINGS—Continued
EMPLOYMENT t—Continued
Seasonally Adjusted t
Production or nonsupervisory workers—Continued
Nondurable goods
thous
Food and kindred products
do...
Tobacco manufactures .
.
do
Textile mill products
do...
Apparel and other textile products
do...
Paper and allied products
do...
Printing and publishing
do
Chemicals and allied products. .
do
Petroleum and coal products
do...
Rubber and plastics products, nee
do...
Leather and leather products
do...
Service-producing
do. .
Transportation and public utilities
do....
Wholesale 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: 0 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....
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...,
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 trade
do ..
Retail trade
do
Finance, insurance, and real estate J
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
do
Transportation and public utilities
do....
Wholesale trade *
do....
Retail trade *
do....
Finance, insurance, and real estate
do....
Services
do .
Government
do
Indexes of employee-hours (aggregate weekly): 0
Private nonagric. payrolls, total...
1977=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 trade
do....
Retail trade
do
Finance, insurance, and real estate
do....
Services
do....
See footnotes at end of tables.
r
5431
'1,125
r
53
'642
'981
'493
'699
'598
'119
'533
'182
'42 926
'4,190
'4246
'13 612
'3,997
'16 880
'5430 '5373 '5388 '5416 '5447 '5455 '5470 '5507 '5537 '5560 '5591 '5608 '5619 '5641 pP5639
'1,118 '1,117 '1,118 '1,122 '1,123 '1,117 '1,118 '1,119 '1,124
1,126 '1,134 '1,133 '1,133 '1,142
l,139
P
'49
'49
'54
'52
'52
'50
'52
'51
'50
'50
'50
'50
50
'52
'53
'666
'665
'666
'641
'642
643
650
'651
'656
'658
'660
'666 p "662
631
634
'977
'990
'990
*993 '1,004 '1,012 '1,018 '1,023 '1,028 '1,031 '1,038
l,032
'984
'968
'972
'493
'495
'495
'498
'508
'511
'512
'511
'494
'501
'503
'506
"513
'490
'492
P
'732
'734
'737
'709
'711
'714
'720
'743
745
'710
'703
'705
'715
'725
'727
P
'579
'580
'580
'587
'588
'588
'581
'583
'584
'586
'589
590
'580
'579
'578
P
'118
'117
112
'112
'117
'121
'118
'116
'115
'114
'113
'111
'111
114
'119
P
'604
'616
'552
'568
'571
'582
'612
'616
'556
'562
'591
'598
622
'538
'545
'172
'173
'176
'176
'176
'175
'175
'173
'174
'175
'176
'176
P172
'172
'172
P
'43 737 '43 355 '43 505 '43 719 '43 887 '43 409 '44 216 '44 339 '44490 '44 669 '44 793 '45009 '45 146 '45 343 45
452
'4,073 '4,112 '4,116 '4,121 '4,119 '3,481 '4,154 '4,158 '4,151 '4,161 '4,189 '4,198 '4,207 '4,229 P4,234
'4220 '4168 '4 185 '4207 '4219 '4242 '4258 '4274 '4292 '4316 '4349 '4375 '4395 '4405 P P4426
'13 951 '13 810 '13 858 '13 928 '13 988 '14 028 '14063 '14 112 '14 174 '14 221 '14 264 '14 317 '14 341 '14 425 14
426
'4,066 '4,033 '4,047 '4,059 '4,075 '4,098 '4,097 '4,107 '4,122 '4,135 '4,149 '4,161 '4,165 '4,173 P4,184
'17 428 '17 232 '17299 '17 404 '17 486 '17 560 '17 644 '17688 '17 751 '17 836 '17 842 '17 958 '18 038 '18 111 P18 182
34.8
35.0
'427
367
425
'372
389
401
23
393
22
38.0
372
'40.1
38.6
392
397
39.3
40.5
398
'38.4
38.4
25
39.4
37.8
37.5
34.7
418
37.1
40.9
439
39.6
35.6
39.0
'38.3
299
36.2
326
30
407
30
'40.1
394
'41.5
40.5
406
405
40.5
42.1
404
39.1
394
30
39.5
37.4
'40.5
36.2
426
37.6
41.6
439
412
36.8
39.0
'385
298
36.2
327
'165 73
'135 02
'251
'7.45
'3811
'10.32
'1051
'23.60
'10.08
'3243
'3072
'104.2
'906
'1307
'99.8
'87.0
'844
- '90.8
'111.7
'102.2
'108.1
'1036
'117.1
'121.9
34.7
349
'41 7
367
34.9
'349
422
'375
35.2
'350
425
379
'35.3
350
42 1
382
'35.3
350
'426
380
35.3
352
43 1
379
35.3
'352
432
373
35.1
352
429
363
35.5
'352
'434
368
35.0
'354
'433
363
'35.0
'353
'429
370
'35.0
'353
428
367
'35.3
'355
'429
'376
P
35.3
P
353
P
432
P
398
401
29
405
'29
'40.1
393
'41 1
'40.0
'404
'40 1
40.4
'42.1
'404
'38.9
395
30
'39.5
37.3
'40.9
'36.5
424
'37.6
41.5
'436
41 1
37.0
'38.9
'384
'297
36.1
327
399
'399
27
'403
26
39.8
392
412
'40.2
'403
400
'40.2
41.6
'403
38.8
394
29
39.4
37.4
'40.5
36.1
427
'37.5
41.6
436
41 1
36.8
38.9
'385
'298
36.3
'327
403
401
29
'405
28
40.0
'395
'41.5
'40.4
'404
'403
40.5
'41.8
401
'38.8
'39.5
30
'39.7
'38.4
40.7
'36.2
428
'37.5
'41.8
'436
41.3
36.8
38.9
'385
299
36.1
327
400
402
30
408
30
'40.0
397
'41.6
'40.7
407
'406
'40.7
42.0
'405
'38.7
395
30
39.4
36.8
'40.8
'35.9
429
'37.6
41.8
'438
40.9
'37.2
'39.0
'384
298
36.3
'327
40 2
403
'30
408
'30
40.2
397
417
40.9
'408
'406
40.7
'41.9
404
'39.0
'396
31
39.6
'37.6
40.9
'36.3
429
'37.6
'41.7
435
412
'37.1
'39.2
385
'298
36.1
'326
408
'407
'32
'41 4
'33
'40.4
400
'420
41.2
'41 4
'41 1
'41.2
'43.3
'408
'39.4
399
31
'39.8
38.4
41.3
'36.7
'432
37.8
41.7
432
419
'37.8
'39.3
'386
'29 8
'36.1
'327
407
406
33
412
34
'40.5
398
'418
'41.6
412
'41 2
41.1
42.5
407
39.8
397
31
'39.6
'38.4
'40.8
'36.6
432
'37.9
41.7
'436
419
'37.3
39.4
'386
300
'36.4
'328
408
406
q q
41 2
'406
34
'41 3
35
'40.0
401
'419
41.8
414
'41 5
'41.0
'42.4
'408
'40.0
397
32
'39.5
37.8
40.7
'36.6
'431
'37.7
41.9
'446
'424
'37.1
39.4
'386
'303
36.2
326
406
'409
35
'416
37
'40.6
'400
'421
41.9
'416
418
'41.2
'43.2
'413
38.9
'399
'33
'39.7
38.1
'40.6
'36.6
432
37.9
-142.1
'448
420
37.3
39.5
'386
30 1
'36.5
328
407
'409
'35
417
'38
40.4
'399
'425
42.0
'418
41 9
'41.2
'43.1
'41 2
39.6
'399
33
'39.7
'36.4
'40.8
'36.9
'432
37.9
'42.1
'445
420
'37.2
'39.3
'385
300
'36!4
327
407
'407
'35
'41 4
'37
'40.1
'396
'419
'41.8
'413
'41 9
'41.0
42.9
'41 1
'39.6
'398
'33
'39.8
'36.9
'40.6
'36.7
'430
'37.9
'42.0
'447
417
'36.7
'39.2
'385
'30 1
36^3
'328
409
412
37
'418
'40
40.5
'398
'423
'42.2
'418
'423
41.3
'43.5
'41 4
'39.6
402
34
'40.1
'39.5
41.3
'37.4
'43 1
'38.3
'42.0
'440
'421
'37.7
'39.5
'387
30 1
36.6
'328
P
407
P
407
P
'413
35
'40.0
'398
'418
'41.7
414
41 3
41.1
'42.6
'407
'39.8
'398
31
'39.6
'40.1
'40.6
'36.7
'431
37.9
'41.9
'437
420
37.2
39.2
'386
300
36.1
327
380
34
41
4
P
35
P
39.6
"396
P
422
P
42.4
P
41 4
P
41 8
P
41.0
P
42.7
P
407
P
39.3
P
397
P
31
P
39.6
P
40.1
P
40.1
P
36.5
P
43 1
P
38io
P
41.9
P
44 1
P
417
P
37.1
"39.4
P
385
"302
P
36.2
P
327
P
'167 91 166 25 16704 '167 45 '168 32 '168 10 T170 74 r!70 94 r!70 15 '171 90 '174 00 '174 44 '173 66 '176 50 PP176 07
'136 75 '134 62 '135 83 '136 60 '137 49 13702 '139 14 '139 67 '139 69 '140 39 '142 28 '142 57 '14232 '144 20 144 60
'212
'207
'206
'208
'207
'2 10
'2 13
'2 16
'2 16
'2 17
'223
'220
'2 19
'222
"225
P
7.62
7.26
'744
'7.58
'777
'768
'783
'771
'779
'774
'837
840
'786
'828
843
'3842 '3769 '3796 '3834 '3874 '3887 '3936 '3951 '3965 '3971 '4052 '4069 '4069 '41 24 P41 14
'10.12 '10.11 '10.14 '10.17 '10.23
'9.39 '1037 '1040 '1030 '1038 '1042 '1038 '1040 '1055 "1056
p
'1053 '1037
1044 '10.51
1052 '1060 '1068 '1067 '1072 '1075 '1086 '1087 '1089 '1099
ll 02
'24.09 '23.73 '24.03 '24.16 '24.30 '24.26 '24.31 '24.59 '24.54 '24.94 '24.82 '24.82 '24.94 '25.17 PP25.44
'10.30 '10.19 '10.30
10.28
'10.34 '10.36 '10.42 '10.45 '10.41 '10.47 '10.59 '10.55 '10.54 '10.68 P10.65
'3355 '3320 '3344 '3350 '3359 '3369 '3404
3418 '34 14 '3422 '3447 '3466 '3480 '3508
35 12
'31 16 '3163 '3121 '3085 '3084 '31 08 '31 60 '3127 '3046 '31 52 '31 72 '31 87 '31 35 '3230 P31 47
'105.8
'914
'1073
'1019
'88.6
'854
'93.3
'113.7
'99.4
'108.0
'1060
'118.9
'126.0
'104.1
'889
'1045
'974
'86.5
'825
'92.5
'112.5
'100.0
'106.4
'1044
'117.7
'124.6
'104.7
'894
'1048
'990
'86.9
'831
'92.4
'113.1
'100.1
'107.1
'1051
'119.0
'125.1
'105.5
'906
'1051
'1012
'87.9
'842
'93.2
'113.7
'100.2
'107.7
'1060
'118.7
'125.9
106.1
'91 6
'1057
'1020
'88.9
'858
'93.6
'114.1
'100.4
'107.7
'1061
'119.2
'126.5
105.3
'924
'1067
'1037
'89.5
'865
'94.0
'112.4
'85.3
'108.6
'1064
'119.2
'126.6
'107.6
'939
'1078
'1050
'91.1
'885
'95.0
'115.1
102.0
'109.2
'1067
'120.2
'127.6
'108.3
'946
'1096
'1041
'92.1
'899
'95.3
'115.9
'102.4
'109.7
'1078
'120.8
'128.3
'108.7
'956
'1097
'1055
'93.0
'91 0
'95.9
'116.0
'101.7
'110.1
'1083
'120.6
'128.4
'109.4
'96 2
'1104
'1057
'93.7
'920
'96.2
'116.7
'102.4
'110.7
'1097
'121.0
'128.6
'110.3
'979
'111 5
'1103
'94.9
'934
'97.0
'117.2
'103.4
'111.6
'1093
'122.0
'129.4
'110.9
'992
'112 1
'1141
'95.7
'944
'97.5
'117.4
'103.1
'112.0
'1094
'122.1
'129.9
'110.9
'98 1
'111 7
'1077
95.7
'945
'97.4
'117.9
'103.1
'112.5
'1099
'122.2
'130.9
'112.1
'100 2
'1144
1129
'97.0
'959
'98.8
'118.7
'104.4
'113.3
'1106
'123.4
'131.4
111.9
"99 6
1154
1137
P
96.1
P
952
P
97.5
118.8
104.2
113.3
110 9
122.4
131.5
S-12
SURVEY OF CURRENT BUSINESS
Unless otherwise stated in footnotes below, data
through 1982 and methodological notes are as
shown in BUSINESS STATISTICS: 1982
1982
1983
June 1984
1984
1983
Apr.
Annual
June
May
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
LABOR FORCE, EMPLOYMENT, AND EARNINGS—Continued
HOURLY AND WEEKLY EARNINGS f t
Average hourly earnings per worker: 0
Not seasonally adjusted:
Private nonagric. payrolls
dollars..
Mining
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
do....
Nondurable 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 .... do....
Leather and leather products
do....
Transportation and public utilities
do....
Wholesale trade
do....
Retail trade
do
Finance, insurance, and real estate
do....
Services
do
Seasonally adjusted:
Private nonagricultural payrolls . ..
Mining
Construction
Manufacturing
Transportation and public utilities
Wholesale trade *
Retail trade *
Finance, insurance, and real estate
Services
dollars
do
do
do....
do
do....
do
do....
do
Indexes of avg. hourly earnings, seas, adj.: 0
Private nonfarm economy:
Current dollars
1977-100..
1977 dollars $
do
Mining
do....
Construction
do
Manufacturing
do ..
Transportation and public utilities
do....
Wholesale trade *
do
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....
Railroad wages (average class I)
do
Avg. weekly earnings per worker,
private nonfarm: 0
Current dollars seasonally adjusted
1977 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 trade
do....
Retail trade
do
Finance, insurance, and real estate
do....
Services
do. ..
r
7.68
!077
11.63
r
849
8.25
r
9.04
'8.80
'7.43
6.31
r
8.87
11.33
'8.77
'9.26
8.21
'11.11
'8.06
'6.42
'7.74
7.49
'7.92
'9.79
5.83
5.20
9.32
'874
9.96
1246
'7.64
'5.33
'10.32
'8.09
'548
6.78
'692
'8.02
'1127
'11.92
'883
'8.51
'9.38
'9.05
7.79
6.62
'9.27
'11.34
'9.11
'9.55
'8.65
'11.66
'8.46
'6.80
'8.08
'7.79
'8.20
'10.35
6.18
5.37
'9.94
'911
10.59
'1329
'7.99
'5.54
'10.80
'8.54
'574
'7.29
'730
'768
'1077
'1163
'8.49
'1032
'8.09
'548
6.78
'692
'802
'1127
'1192
'8.83
'1080
'854
'574
'7.29
'730
'148.5
'934
'158.9
'1412
'1524
'148.8
'1496
'143.4
148.3
'147.9
'155.3
'948
'1666
'1453
'1578
'156.7
'1581
'1501
'158.7
'1560
r
14.28
18.56
1151
1522
19.91
1283
7.94
'1125
'11.89
'875
'8.47
'9.28
'8.99
'7.73
6.51
'9.15
11.25
'9.04
'9.41
'8.58
'11.52
'8.38
'6.74
8.03
'7.76
'8.23
'10.67
6.14
5.35
'9.73
'902
'10.44
'1328
'7.92
'5.54
'10.70
'8.46
'570
'7.22
'725
'796
(i)
'7.98
'11 17
'11.81
'877
'8.48
'9.31
'9.02
'7.77
6.52
'9.19
11.28
'9.06
'9.51
'8.58
'11.51
'8.39
'6.80
'8.04
'7.76
'8.21
'10.78
6.14
5.33
9.81
'904
10.50
'1318
'7.94
'5.52
'10.73
'8.49
'572
'7.29
'727
'798
(i)
'7.98
'1122
'11.77
'879
'8.48
'9.34
'9.02
'7.84
6.60
'9.27
'11.24
'9.08
'9.55
'8.61
'11.62
'8.40
'6.79
'8.05
7.75
'8.20
'10.98
6.16
'5.37
'9.92
'905
10.52
'1319
'7.93
'5.50
'10.72
'8.49
'573
'7.25
'724
'801
0)
'8.01
'1127
'11.80
'884
'8.53
'9.38
'9.06
7.82
6.65
'9.33
11.37
'9.07
'9.57
'8.67
'11.60
'8.49
'6.80
'8.12
'7.82
'8.20
'10.90
6.17
5.35
'10.07
'909
'10.59
'1322
'8.02
'5.53
'10.84
'8.56
'573
'7.29
'724
'804
(i)
'7.95
'1125
'11.86
'878
'8.44
'9.32
'8.98
'7.82
6.67
'9.30
'11.29
'9.09
'9.54
'8.62
'11.52
'8.45
'6.79
'8.06
'7.74
'8.15
'10.26
6.19
5.35
'10.03
'9 12
'10.62
'13 17
'8.00
'5.52
'10.69
'8.54
'573
'7.24
'724
'800
(i)
'1189
'878
'1079
'1190
'8.80
'1081
'1187
'8.83
1088
8.57
7.22
'725
7.28
'728
7.28
'730
7.33
'732
7.24
'733
'154.2
'948
'1654
'1455
'1567
'155.6
'1567
'1488
'157.2
'1547
'154.7
'948
'1647
'144 8
'1573
'156.2
'1573
'1496
'158.7
'1553
'155.1
'949
'1660
'1450
'1575
'156.6
'1573
'1502
'157.9
'1560
'155.6
'949
'1673
'1445
'1579
157.9
'1586
'1507
'158.9
'1564
'155.4
'944
'1669
'1448
'1580
'1556
'158 1
'1509
'158.0
'1566
'1197
'8.75
'1074
845
569
1492
19.46
1267
848
571
1492
19.49
1268
853
574
1524
19.85
1263
575
1535
20.05
1309
'1189
8.84
'1068
856
577
1544
20.24
1289
'8.12
'1133
'12.04
'889
'8.52
'9.46
'9.07
'7.87
6.74
'9.42
'11.34
'9.18
'9.63
'8.73
11.80
'8.54
'6.83
8.11
7.77
'8.17
9.90
6.23
5.39
10 11
'923
'10.70
'1338
'8.05
'5.57
'10.88
'862
'578
7.33
'737
'8.16
'1133
'12.06
'890
'8.54
'9.47
'9.09
'7.86
6.71
'9.38
11.28
'9.18
'9.66
'8.71
'11.87
'8.54
'6.84
'8.12
7.79
'8.16
'9.65
6.24
'5.40
'10.11
'923
'10.79
'1338
'8.08
'5.56
'10.94
'869
'579
7.45
'743
8.16
'1140
'11.91
'897
'8.61
'9.53
'9.14
'7.79
'6.73
9.41
'11.32
'9.24
'9.74
'8.77
'12.01
'8.56
'6.84
8.18
7.86
'8.26
'10.77
6.26
'5.43
'10.20
'926
10.86
'1345
'8.07
'5.57
11.01
'868
'582
7.39
'744
8.16
'1141
'12.02
'904
'8.67
'9.60
'9.19
7.80
'6.78
9.41
11.35
'9.35
'9.85
'8.84
'12.04
'8.65
'6.95
8.24
'7.92
'8.36
'10.19
6.31
5.44
'10.24
'929
'10.90
'1354
'8.16
'5.61
'11.00
'8.74
'578
7.43
'747
8.26
8.24
'1154 '1149
'12.08 '11.99
'906
'908
'8.70
'8.72
'9.64
'9.63
'9.23
'9.24
7.88
'7.88
6.76
'6.75
'9.42
'9.38
11.49
'11.38
'9.31
'9.31
'9.87
'9.85
'8.88
'8.86
'12.06 '12.00
'8.68
'8.66
'6.97
'7.00
8.27
8.24
7.96
7.93
'8.41
'8.37
'10.77 '11.13
'6.39
'6.40
5.50
5.46
'10.23 '10.22
'926
'930
'10.91 '10.90
1347
1343
'8.17
'8.16
'5.68 i '5.67
'11.08 '11.01
'882
'8.79
589
7.55
'757
589
7.54
'755
8.24
'1160
11.97
'909
'8.73
'9.66
'9.25
'7.87
6.76
'9.40
'11.44
'9.31
'9.90
'8.88
'12.12
'8.71
'6.97
'8.27
7.95
'8.39
'11.29
'6.41
'5.48
10.25
'929
'10.95
1344
'8.20
'5.68
'11.02
'879
589
7.54
'7 54
8.29
'1160
'11.94
'911
'8.75
'9.67
'9.27
'7.88
'6.75
'9.50
'11.51
'9.34
'9.92
'8.89
'12.05
'8.73
'6.96
'8.29
'7.98
'8.43
'11.41
'6.43
5.48
'10.29
930
'10.97
'1343
'8.25
'5.67
'11.07
'889
'589
'7.63
'760
'821
823
(i)
'1194
'893
'1091
'1193
'897
'1093
'1196
'899
'1096
1197
'903
1102
'1195
'906
'1099
7.35
'737
7.46
'741
870
582
7.39
'741
874
583
7.47
'7 44
876
584
'1197
'909
1108
7.49
'748
876
584
7.47
'750
882
587
7.54
'752
'831
(i)
'1202
'9 11
'11 11
888
588
7'.63
'760
'1562
'945
'1680
1455
'1581
'1574
'1598
'1513
'159.6
'1577
'1570
'947
'1684
'145 5
'1587
'1585
'161 1
1519
'162.0
'1587
'1572
'946
'1695
'1452
'1594
1587
'1608
'1523
'160.8
'1585
'1578
'949
'1697
'1456
'1597
'1590
'1618
'1526
'161.7
'1594
'1584
'948
'1710
'146 3
'1603
'159.9
'1633
'1527
'164.2
1598
'1585
'948
'1707
'1462
'1607
'159.8
'1627
'1529
'164.0
'1598
'1591
'95 1
'1720
'1463
'1612
'1609
'1627
'1532
'164.2
'1608
'1599
'954
'1728
'1465
'1615
'1613
'1646
'1537
'165.9
'1623
'809
(i)
'1195
'888
'1083
862
579
1553
20.37
13 13
8 13
(i)
870
580
1553
20.37
1299
'8 14
(i)
1556
20.43
1304
'8 17
(i)
1549
20.40
1306
(i)
1552
20.42
1332
1552
20.43
1338
825
0)
1554
20.49
1321
1556
20.49
13 29
'267 26
'168.09
'280 70 '277 80 '278 50 '280 35 '281 40 '280 00 '284 77 '286 18 '286 53 '287 58 '290 63 '2% 52 '291 23 '295 01
'171 37 '170 85 '170 65 '171 57 '171 69 '170 01 '172 27 '172 61 '172 40 '172 93 '173 93 '173 65 '174 08 '176 02
'267.26
'459 88
'426 82
'330.26
'355 27
'297.22
'402.48
'309.85
'163 85
245.44
'225.59
'280 70
'478 98
'443 42
'354 08
'381 77
'318 35
'421.20
'328 79
'171 05
'263.90
'238 71
27552
'469 13
'436 36
'348 25
'373 98
31397
'414.09
'323 17
'168 15
'260.64
'236 35
'278 50
'471 37
'442 88
'349 92
'376 12
'315 97
'415.25
'326 02
'169 88
'264.63
'237 00
'280 90
'476 85
'446 08
'354 24
'381 07
'319 59
'419.15
'327 71
'172 47
'261.73
'238 20
'282 75
'474 47
'450 76
'353 60
'378 95
'319 93
'424.93
'330 42
'175 34
'264.63
'239 64
'280 64
'479 25
'450 68
'352 96
'378 39
'319 98
'422.26
'329 64
'174 77
'261.36
'238 92
'286 64
'488 32
'456 32
'362 71
'390 70
32521
'428.67
'333 59
'172 82
'264.61
r
241 00
'288 05
'489 46
'449 84
'362 23
'391 11
'323 99
'432.13
'336 30
'173 12
'271.18
'242 96
28642
'489 06
'432 33
'365 98
'395 50
32720
432.69
'335 92
'173 44
266.78
'242 54
28968
'495 19
'442 34
'372 45
'403 20
33042
'436.70
'339 99
'178 02
268.97
'243 52
28910
'499 68
'438 50
'368 65
'398 13
32667
'434.34
'338 69
173 17
'275.58
'246 78
'288 40
'492 92
'443 63
'368 74
'398 68
32630
'429.39
'335 78
173 17
'274.46
'246 13
'288 40
'496 48
43930
'369 96
'399 92
'327 49
'429.78
'336 66
'174 34
273.70
'245 80
6/81 = 100..
114.5
116.5
117.8
1198
do....
do....
do....
114.9
1136
115.1
117.6
1148
116.7
118.9
1158
1191
120.9
117 7
1220
do....
do
do....
do....
113.5
1149
117 1
117.0
1150
1172
121 1
1198
1160
1186
1226
1214
1179
120 7
125 0
1229
HELP-WANTED ADVERTISING
Seasonally adjusted index
1967 = 100..
See footnotes at end of tables.
86
96
81
87
92
100
97
98
111
114
121
123
128
124
P
8,31
P
8,00
P
8.42
"11.54
P
6,41
P
5,46
P
10,35
P
928
P
11.02
P
1333
P
8.27
P
5.71
P
11.09
P
885
P
587
P
7.55
P
7 54
P
828
(i)
1200
P
913
p
ll 15
P
884
P
5 86
P
7.55
P
7 55
P
P
159 6
"948
P
173 6
P
146 2
P
161
9
P
161 7
P
163
9
P
1533
P
164.5
P
161 3
P
15 63
P
20.f>3
13 29
P
P
292
P
28
173 77
'292 64 PP292 28
'497 64 P502 42
'448 94 452 96
'372 60 PP371 18
'403 24 P400 34
'329 94 329 08
'435.05 PP434.73
'342 27 340 73
'176 11 PP176 69
'279.26 273.31
'248 52 "245 80
EMPLOYMENT COST INDEX @
Civilian workers t
Workers, by occupational group
White-collar workers
Blue-collar workers
Service workers
Workers, by industry division
Manufacturing
Nonmanufacturing
Services
Public administration
P
8.28
"1163
P
11.92
P
9 12
"8.76
P
9.67
"9.27
"7.90
P
6.78
P
9.53
P
11.49
P
9.32
P
9.93
P
8.89
P
12.05
P
8.70
P
7.01
124
SURVEY OF CURRENT BUSINESS
June 1984
Unless otherwise stated in footnotes below, data
through 1982 and methodological notes are as
shown in BUSINESS STATISTICS: 1982
1982
1983
S-13
1984
1983
Apr.
Annual
June
May
July
Aug.
Sept.
Oct.
Nov.
Jan.
Dec.
Feb.
Apr.
Mar.
May
LABOR FORCE, EMPLOYMENT, AND EARNINGS—Continued
WORK STOPPAGES
Work stoppages involving 1,000 or more workers:
Number of stoppages:
Beginning in month or year
number..
96
Workers involved in stoppages:
Beginning in month or year
.thous..
656
Days idle during month or year
do....
9,061
UNEMPLOYMENT INSURANCE
Unemployment insurance programs:
Insured unemployment, all programs, average
weekly #@
thous
4590
State programs (excl. extended duration prov.):
Initial claims
thous..
30,298
Insured unemployment avg weekly
do
4061
Percent of covered employment: @ @
Unadjusted
46
Seasonally adjusted
Beneficiaries average weekly
thous 2 3564
Benefits paid @
... . mil. $.. 20,649 5
Federal employees, insured unemployment,
average weekly
thous..
32
Veterans' program (UCX):
Initial claims
do....
136
11
Insured unemployment, avg. weekly
do....
Beneficiaries, average weekly
do....
9
Benefits paid
mil. $..
83.5
Railroad program:
Applications
thous..
246
Insured unemployment, avg weekly
do
62
338.7
Benefits paid
mil. $..
81
2
12
16
10
7
7
12
4
r
0
909
17,461
3
790
25
488
63
689
64
1,270
616
8,673
20
567
68
1,143
23
605
0
464
29
r
507
3775
4642
3947
3481
3275
2917
2580
2478
2620
2915
3374
22,802
3396
1,874
3906
1666
3361
1,740
3063
1,804
3049
1668
2766
1381
2449
1,522
2358
1,757
2508
2,105
2805
2,356
3249
39
2990
18 613 2
2
6
r
r
6
3
27
r
644
4
530
2
r
3
284
8
365
3174
2610
2958
r
p
l,528
3056
l,433
2843
p
l,465
2512
29
45
35
35
27
29
33
38
36
33
39
32
28
4.4
41
38
3.6
34
3.3
32
3.1
28
35
33
29
29
3568
2913
2609
2004
2 114
2780 r2767 p P2339 p "2373
2985
2457
2133
2311
18175 1 587 9 15374 12982 13374 1 1044 10021 10999 12036 14580 14005 l 369 5 l 215 7
26
26
22
21
23
22
22
25
27
29
32
31
28
23
196
30
27
178.9
15
30
28
14.8
14
26
24
13.1
16
25
24
13.6
16
25
22
12.1
19
26
23
13.9
17
27
24
13.5
16
28
25
14.1
15
28
26
15.1
14
27
26
14.8
15
27
25
14.6
13
24
F
24
12.6
!3
22
-20
"11.3
12
20
19
P
10.5
180
58
301.6
9
79
24.8
4
74
29.4
31
47
15.0
55
48
17.6
14
43
21.8
9
41
20.2
7
43
19.5
8
42
19.5
8
43
19.9
10
52
23.9
4
47
23.2
3
40
20.1
2
29
13.4
r
FINANCE
BANKING
Open market paper outstanding, end of period:
Bankers' acceptances
mil. $..
Commercial and financial co. paper, total
do....
Financial companies
do .
Dealer placed
do....
Directly placed
do
Nonfinancial companies
do....
Agricultural loans and discounts outstanding of
agencies supervised by the Farm Credit Adm.:
Total, end of period
mil. $..
Farm mortgage loans:
Federal land banks
do
Loans to cooperatives
do....
Other loans and discounts
do....
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 #
do....
Deposits, total
do....
Member-bank reserve balances
do....
Federal Reserve notes in circulation
do....
All member banks of Federal Reserve System,
averages of daily figures:
Reserves held total
mil IjJ
Required
.
.do
Excess
do....
Borrowings from Federal Reserve banks
do....
Free reserves
. .. . do....
Large commercial banks reporting to Federal Reserve System, Wed. nearest end of yr. or mo.: $
Deposits:
Demand, total #
mil. $..
Individuals, partnerships, and corp. $$ .... do....
States and political subdivisions
do....
U S Government
do .
Depository institutions in U.S. $$
do....
Transaction balances other than demand
deposits *
do
Nontransaction balances, total *
do....
Individuals, partnerships, and corp
do....
Loans and leases (adjusted), total §
do....
Commercial and industrial
do....
For purchasing and carrying securities
do....
To nonbank depository and other
financial
do....
Real estate loans
do....
To States and political subdivisions 0
do. .
Other loans
do....
Investments, total
do....
U.S. Treasury and Govt. agency securities,
total 0
do
Investment account 0
do....
Other securities 0
do....
See footnotes at end of tables.
79543
3
162,330
3
118 640
3
34,666
3
83 974
43690
78309 70389 68797 70907 72710 73977 73569 72902 77919 78309 73450 74367 73221
181,348 169,892 169,870 171,642 172,674 172,407 176,125 177,150 182,475 181,348 185,280 191,132 198,119 208,747
137 970 123 819 125 552 127 318 128 520 129 375 130 280 132 128 137 297 137 970 139 839 143 778 148 677 154 138
41,727 36,984 38205 38,645 37,927 39 136 39247 39,134 42,124 41727 41,283 42,551 44036 46179
641 107 959
96243 86835 87347 88673 90593 90239 91033 92994 95173 96243 98556 101 227 104
43378 46073 44318 44324 44154 43032 45845 45022 45178 43 378 45441 47354 r49 442 54609
r
80408
80541
81022
81024
81 165
81397
81601
81 177
81 106
80769
80541
80896 '80 821
80 935
81 131
50375
8,423
21,609
51078
9,319
20,143
50687
9,259
21,076
50778
8967
21,279
50884
8,630
21,652
50946
8,659
21,792
51006
8974
21,621
51095
8707
21,375
51 105
9263
20,737
51 130
9460
20,180
51 078
9319
20143
51036 50998 51038
10171 10170 10292
19,690 19 653 19 605
51055
10321
19755
190 128
153,769
717
139 312
11 148
190 128
34,334
26,489
141,990
198 571
163,694
918
151 942
11 121
198 571
26,123
21,446
157,097
189 421
151,134
848
141 550
11,135
189,421
32,321
23,193
142,497
185 Oil
152,198
1260
141 180
11 132
185 Oil
26,054
20,567
145 783
189 579
155,649
3,610
141 673
11 131
189 579
27,508
18,004
147,549
189 478
155,314
1,113
144 255
11 131
189 478
27,781
23,046
147,094
193 405
160,242
3633
146 489
11 128
193 405
30608
25,702
148 241
208 034
167,398
1625
155 423
11 128
208 034
44593
20,697
148 172
190 067
155,964
387
146096
11 126
190 067
26112
20,227
149 676
195 267
160,043
1059
149 439
11 123
195 267
25443
21,581
153 800
198 571
163,694
918
151 942
11 121
198 571
26 123
21,446
157 097
199 457
163,081
418
150 254
11 120
199 457
29661
20,361
151 711
188 837
158,535
1020
140 847
11 116
188 837
20306
16,330
152 383
195 100
159,508
896
150 814
11 111
195 100
26634
22,167
153 871
208 207
172,937
907
162 134
11 109
208 207
37 113
19,715
155 388
202 369
167,566
2832
154 869
11 104
202 369
27252
21,686
158 727
*41 854
*41 354
'500
*634
MOl
*38 894
'38 333
^61
^74
'-117
38650
38174
476
1,009
^451
38282
37833
449
952
-404
38415
37934
480
1,636
-1034
38948
38440
507
1,453
-775
38661
38214
446
1,546
-902
37916
37418
498
1441
-753
38137
37*633
505
844
197
38144
37615
529
906
-256
38894
38333
561
774
117
40 120
39507
613
715
16
36365
35423
942
567
478
36278
35569
709
952
110
r
37 154
r
36517
35938
579
2988
2213
191,546
141,698
5,225
1764
23,816
195,538 172,570 203,719 182,551 180,964 179,139 169,441 180,079 187,336 195,538 186,364 185,724 176,120 185,972 185,051
149,971 131,566 152,866 136,533 136,531 136,935 130,818 138,677 143,638 149,971 139,378 140,501 134,190 141,334 140,804
4,654
5,507
5,247
5,282
5,081
4,492
5284
4719
5507
5453
4900
5854
5448
4250
4623
3470
2055
1 131 2025
3215
2055
1934
1607
1 152
993
1 106 2446
1 736 1 307 1 076
21,868 17,921 26,240 20,912 20,595 20,412 18,199 20,103 20,448 21,868 23,974 22^623 21^285 22,088 22,562
416,133
377,218
524,625
218,529
11,138
439,983
411,068
553,128
223,857
13,638
26684
133,738
25272 25,075 25798 25135 25480 25021 25326 25014 24256 25272 25578 24766 24312 25415 25779
142,170 136,308 136,670 137,455 138,007 139,237 140 261 141,637 142106 142 170 144 657 145 468 146 733 148 448 149 259
20361 20670 21 274 22538 23053
174,488 156,809 164 840 161,306 166 990 165 307 163 927 174 126 174 875 174 488 180 307 181 012 174 169 180 948 183 531
145,803 138,126 141 108 140,157 138,938 138 908 139 422 143 742 145 869 145 803 130 201 129 697 128 525 128 260 125 726
161 257
129 438
62639
54,761
66.799
75473
67,777
70.330
419,863
386,474
519,729
216,526
10,027
69998
60,097
68.128
421,594
391,228
524,951
216,420
11,919
73512
63,022
67.596
424,521
394,584
526,133
214,966
12,668
72613
62,276
67.544
426,234
398,234
528,769
217,139
11,838
70291
60,437
68.647
429 130
400,368
530,222
216,005
12,497
70 142
61742
68.766
428 000
399,366
530,378
215,287
11,402
70720
62314
68.702
432 988
405,227
541,626
218,706
13,061
74853
65722
68.889
437 235
408,964
543,644
219,355
14,291
77105
68044
68.764
439 983
411,068
553,128
223,857
13,638
75 473
67777
70.330
32956
408 881
380,480
577,258
221,422
14,910
80244
68377
49.957
32 736
411 118
382,536
585,352
226,817
15,659
80 175
69223
49.522
32899
415 351
386,014
587,258
231,233
12,678
78961
68231
49.564
36 664
'490
1234
r
-605
33340
414 454
385,311
602,674
236,671
13,868
77978
66456
50.282
32673
426 900
395,671
607,656
239,798
14,479
76834
65037
48.892
SURVEY OF CURRENT BUSINESS
S-14
Unless otherwise stated in footnotes below, data
through 1982 and methodological notes are as
shown in BUSINESS STATISTICS: 1982
1982
1983
1983
Annual
June 1984
Apr.
May
June
July
1984
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
FINANCE—Continued
BANKING— Continued
Commercial bank credit, seas, adj.:
Total loans and securities 0
bil $
15681
14120
U S Treasury securities ..
do....
1309
188.0
Other securities
do
2392
2475
Total loans and leases 0
do . . 1,042 0
1 1326
Money and interest rates:
Prime rate charged by banks on short-term
business loans *
percent
1486
1079
Discount rate (N Y F R Bank) © @
do
1102
850
a
Federal intermediate credit bank loans
do....
!3.56
10.60
Home mortgage rates (conventional 1st
mortgages):
8
New home purchase (U.S. avg.)
percent14.49
12.11
8
Existing home purchase (U.S. avg.)
do....
12.29
14.78
Open market rates, New York City:
3
Bankers' acceptances, 90 days
do....
8.90
11.89
3
Commercial paper, 6-month $
do....
8.89
11.89
3
Finance co. paper placed directly, 6-mo
do....
8.69
11.20
Yield on U.S. Government securities (taxable):
3-month bills (rate on new issue)
percent.. 310.686
8.630
CONSUMER INSTALLMENT CREDIT t
Not seasonally adjusted
Total outstanding (end of period) #
mil. $.. 355 849 396 082
By major holder:
Commercial banks
do.... 152 490 171 978
Finance companies
do
98693 102 862
Credit unions
do....
47253
53,471
32735
35911
Retailers
do
Savings and loans
do....
21615
15823
By major credit type:
Automobile
do.... 131,086 142,449
Revolving
.
. .. do....
69998
80823
23680
Mobile home
do
22254
Seasonally adjusted *
Total outstanding (end of period) #
do....
By major holder:
Commercial banks
do....
Finance companies
do
Credit unions
do....
Retailers
do
Savings and loans
do....
By major credit type:
Automobile
do
Revolving
do....
Mobile home
do
Total net change (during period) 4£
do
By major holder:
Commercial banks
do
Finance companies
do....
Credit unions
do ...
Retailers
do
Savings and loans
.
do
By major credit type:
Automobile
do....
Revolving
do .
Mobile home
do
FEDERAL GOVERNMENT FINANCE
Budget receipts and outlays:
Receipts (net)
mil. $.. '617 766 '600 562
Outlays (net)
do
'728 424 '795 969
Budget surplus or deficit (—)
do.... '-110 658 '-195,407
Budget financing total
do
'127989 '207 764
Borrowing from the public
do.... '134,912 '212,424
Reduction in cash balances
do.... '-6923 '-4660
Gross amount of debt outstanding
do.... '1,146987 '1,381,886
Held by the public
do
'929 346 '1141770
Budget receipts by source and outlays by agency:
Receipts (net), total
mil. $.. '617 766 '600,562
Individual income taxes (net)
do.... '298,111 '288,938
Corporation income taxes (net)
do.... '49,207 '37,022
Social insurance taxes and contributions
(net)
mil $ '201 131 '208 994
Other
do.... '69 317 '65 609
Outlays, total #
do.... '728 424 '795 969
Agriculture Department
do.... '36,213 '46,392
Defense Department, military
do.... '182,850 '205,012
Health and Human Services
Department
mil $ '251 259 '276 635
Treasury Department
. do.... '110521 '116360
'6,664
National Aeronautics and Space Adm
do....
'6,026
Veterans Administration
do.... '23,937 '24,827
GOLD AND SILVER:
Gold:
Monetary stock, U.S. (end of period)
mil. $..
11,148
11,121
Price at New York $$
dol. per troy oz.. 376.010 423.828
Silver:
Price at New York ±±
dol. oer trov oz..
7.947
11.144
See footnotes at end of tables.
14606 14744 14880 14999 15132 15203 1 532.9 1,548.9 1,568 1 1 585.2 1,6048 1,621.6
188.7
187.1
176.9
182.3
186.2
188.0
188.3
157.8
166.1
171.2
172.9
174.4
246.5
247 1
252.0
2522
253.2
2462
2461
2471
2475
2434
2450
2478
1 059.5 10633 1 070.6 1 080.9 1,0910 1096.3 1,104.1 1,115.7 1,132.6 1,144.5 1,164.3 1,181.4
1,630.8
185.9
250.7
1,194.2
1050
850
10.51
1050
850
10.20
1050
850
10.14
1050
850
10.22
1089
850
10.30
1100
8.50
10.42
1100
8.50
10.55
1100
8.50
10.61
1100
8.50
10.67
11.00
8.50
10.80
11.00
8.50
10.84
11.21
8.50
10.79
11.93
8.87
10.87
1239
9.00
4
10.97
12.02
12.42
12.21
12.36
11.90
12.21
12.02
12.18
12.01
12.25
12.08
12.38
11.80
12.19
11.82
12.11
11.94
11.94
11.80
11.70
11.78
11.73
11.56
11.69
'11.55
'11.61
11.67
11.63
8.49
8.48
8.41
8.36
8.31
8.15
9.04
9.03
8.80
9.33
9.36
9.10
9.59
9.68
9.42
9.23
9.28
9.09
9.01
8.98
8.79
9.16
9.09
8.84
9.52
9.50
9.11
9.23
9.18
9.02
9.38
9.31
9.06
9.88
9.86
9.38
10.22
10.22
9.76
10.84
10.87
10.03
8.252
8.185
8.820
9.120
9.390
9.050
8.710
8.710
8.960
8.930
9.030
9.440
9.690
9.900
353,263 355 302 360,605 365,498 371 295 375,246 379,334 384,410 396 082 394,922 399 177 402 466 407,671
149 311 149601 152,065 154 914 158 402 160,973 163,274 165,670 171 978 171,934 175 941 177,625 181,022
99357 100116 101 056 102 084 102 541 102 174 102 338 102560 102 862 101680 101 702 101 619 101 119
47,505 47,838 48,652 49,139 50,121 51,123 51,767 52,578 53471 53882 54851 55892 56,962
29871 30041 30347 30403 30648 30926 31337 32371 35911 34505 33455 • 33 208 33327
18022 18484 18945 19135 19461 19985 20,472 21023 21615 21823 22269 23071 23957
129,842 130,938 132,916 135,373 138,242 139,002 140,101 141,107 142,449 143,186 146,047 146,047 147,944
66355 66423 67945 68866 70006 71039 72105 74032 80823 78566 77671 79,110 80,184
22636 22673 22722 22830 22993 23189 23358 23492 23680 '23 668 23571 23661 23850
356,539 358,811 362,672 366,378 370,471 373,024 378,117 382,936 388,718 393,187 399,795 405,665 412,073
150 856 151 654 153,219 155,442 157 720 159,429 162,142 164,974 168,951 '170,980 '175,894 179,316 183,331
99904 100 276 101 082 101 589 102 227 101 842 102 312 102 272 102 126 102 060 102 318 102 125 101 775
47888 48176 48749 49,411 49921 50567 51,509 52,421 53152 54,068 54780 56010 57539
30456 30711 31005 31 166 31330 31555 31770 32088 32625 33047 33372 33727 34005
17985 18527 19,150 19,197 19,462 19,910 20,347 20,931 21520 '21 884 22298 23111 23979
130 769 131 475 132 915 134 764 137 136 137 431 139 140 140 408 141 876 143 982 146 781 147 107 149 265
67785 68369 69,473 70,089 70630 71,209 72,447 73,874 75564 76069 77342 80304 82,172
22576 22676 22839 23076 23298 23553 23523 23459 23460 '23 368 '23 241 23526 23811
2041
2272
3861
3706
2553
5093
4469
5870
6408
4093
4819
5782
6608
485
-67
708
167
368
798
372
288
255
542
1565
806
573
294
623
2223
507
662
161
47
2278
638
510
164
265
1709
-385
646
225
448
2713
470
942
215
437
2832
-40
912
318
584
3977
-146
731
537
589
'2029
'-66
916
422
'364
4914
258
712
325
414
3422
-193
1230
355
813
4015
-350
1529
278
868
441
971
51
706
584
100
1,440
1 104
163
1,849
616
237
2372
541
222
295
579
255
1,709
1238
-30
1,268
1427
-64
1468
1690
1
2,106
'505
' 92
2799
1273
'l27
326
2962
285
2158
1868
'285
66,234
69542
-3,309
4447
2,682
1,765
1,252,706
1 049 714
33755 66,517 43948 49683
63040 63116 65360 67160
-29,285
3,401 -21,412 -17 477
30476 -1382 22705 18744
18,497 25,719 11,877 20,522
11979 -27 101 10828 -1778
1,296,125 1,324,318 1,331,595 1,353 072
1068211 1093930 1105806 1 126 328
63556 45 156 46200 58041 62537 47886 44464 80180
61610 70225 67792 74702 68052 68267 73020 68687
1,946 -25,069 -21 591 -16 661 -5515 -20 381 -28 555 11493
756 23623 22270 16572
5762 20588 30282 10833
15,442 11,732
8946 15501 23686 18172
7568 17038
-14 686 11891 13324
1071 -17 924
2416 22714 27871
1,381,886 1,389,236 1,393 816 1 415 343 1441993 1 462 127 1468303 1490663
1 141 770 1 153 502 1162448 1 177 948 1201634 1219808 1227376 1244414
66,234
35,041
4,796
33,755
6,384
-302
66,517
32,773
9,955>
43,948
21,938
856
49683
23,259
383
63,556
30,961
9,048
45,156
23,227
468
46200
22,700
467
58041
25577
10,922
62537
33,881
1,619
47886
22190
9
44464
12895
7,965
80180
39192
9,095
21480
4,918
69,542
4,627
17,122
22330
5344
63040
2,503
16,888
17903
5,886
63116
2,787
17,908
15316
5,838
65360
2,429
16,936
20089
5952
67 160
1,644
18,133
17240
6308
61610
2,637
17,508
15706
5753
70225
4,445
16,949
16780
6253
67792
2755
17,445
16120
5422
74702
3988
18,925
21462
5575
68052
4266
17,781
19972
5715
68267
3561
17,939
17 702
5902
73020
3032
18,950
26036
5858
68687
3114
18,210
24169
8078
487
3,359
22234
9679
603
878
22862
13944
571
1,900
22724
8969
583
2,021
23570
10014
601
2,254
22296
6743
539
2,008
23297
9611
734
1,936
23559
10665
632
2,047
24448
17438
590
3,332
23812
9481
414
1,199
24 143
10625
631
2,100
25635
10066
522
3,294
24060
11 524
604
886
11,135 11,132 11,131 11,131 11,128 11,128 11,126 11,123 11,121 11,120 11,116 11,111 11,109 11,104
432.188 437.555 412.841 423 053 416 248 411 455 393 208 382 245 387 140 370 888 385 955 394 264 381 658 377 261
11.694
12.976
11.749
12.088
12.096
11.915
9.841
8.837
9.121
8.182
9.126
9.651
9.220
ft 972
Unless otherwise stated in footnotes below, data
through 1982 and methodological notes are as
shown in BUSINESS STATISTICS: 1982
S-15
SURVEY OF CURRENT BUSINESS
June 1984
1982
1983
Annual
1984
1983
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
FINANCE!—Continued
MONETARY STATISTICS
C
Currency in circulation (end of period)
bil $
156.2
171.9
Money stock measures and components (averages
of daily figures):!
Measures (not seasonally adjusted): $
458.0
509.0
Ml
bil $
M2
do
1,878.3 2,115.9
M3
do.... 2,278.5 '2,596.7
L (M3 plus other liquid assets)
do.... 2,777.4 '3,039.7
Components (not seasonally adjusted):
141.9
Currency
do....
128.4
Demand deposits
do
234.9
241.8
Other checkable deposits
ft
do
120.7
90.3
Overnight RFs and Eurodollars 0
do....
41.1
52.9
General purpose and broker/dealer
money market funds
do...
145.3
172.4
Money market deposit accounts *
do
340.5
Savings deposits
do...,
350.3
321.2
Small time deposits @
do
859.0
754.5
Large time deposits @
do...,
326.4
307.5
Measures (seasonally adjusted): $
Ml
do
M2
do
M3
do...
L (M3 plus other liquid assets)
.
do
Components (seasonally adjusted):
Currency
do....
Demand deposits
do
Other checkable deposits *
do....
Savings deposits
do
Small time deposits @
do
Large time deposits @
do....
PROFITS AND DIVIDENDS (QTRLY.)
Manufacturing corps. (Bureau of the Census):
Net profit after taxes, all industries
mil. $..
71,028
86,294
Food and kindred products
do....
8,877
8,383
Textile mill products
do....
851
1,605
Paper and allied products ..
.
do
2,337
1,460
Chemicals and allied products
do....
10,324
11,733
Petroleum and coal products
do....
19,666
19,379
Stone, clay, and glass products
do....
408
1,127
Primary nonferrous metal
do
-154
-333
Primary iron and steel
do....
^3,746
^3,705
Fabricated metal products (except ordnance,
machinery, and transport, equip.)
mil. $..
2,320
2,748
Machinery (except electrical)
do....
8,038
8,192
Elec. machinery, equip., and supplies
do....
6,449
6,374
Transportation equipment (except motor
vehicles, etc.)
mil. $..
2,566
2,899
Motor vehicles and equipment
do....
734
7,295
All other manufacturing industries
do....
13,867
17,628
Dividends paid (cash), all industries
do....
41,259
41,510
SECURITIES ISSUED @ @
Securities and Exchange Commission:
Estimated gross proceeds total
mil $
73,424 102,073
By type of security:
Bonds and notes, corporate
do....
44,004
48,081
Common stock
do
23,197
44,842
Preferred stock
do
4,950
7,583
By type of issuer:
Corporate, total #
mil. $..
72,151 100,506
Manufacturing
do....
22,772
13,237
Extractive (mining)
do....
6,923
8,580
Public utility
do
16,408
12,166
Transportation
do.
2,091
4,157
Communication
do
3,894
5,508
34,715
Financial and real estate
do....
23,089
State and municipal issues (Bond Buyer):
Long-term
do....
77,179
83,348
43,390
35,849
Short-term
.
do
SECURITY MARKETS
Stock Market Customer Financing
Margin credit at brokers, end of year
23,000
or month
mil. $..
13,325
Free credit balances at brokers:
6,620
Margin accounts
do .
5,735
8,390
8,430
Cash accounts
do....
Bonds
Prices:
Standard & Poor's Corporation:
High grade corporate:
35.8
41.2
Composite §
dol. per $100 bond..
51.4
Domestic municipal (15 bonds)
do....
41.8
Sales:
New York Stock Exchange, exclusive of some
stopped sales, face value, total
mil. $.. 7,155.44 7,572.32
See footnotes at end of tables.
C
C
162.8
162.0
1687
171.9
516.6
509.8
522.3
526.7
534.8
521.9
528.1 '543.2
535.0
505.2
500.7
513.5
516.3
537.8
2,092.4 2,096.7 2,118.1 2,131.9 2,133.3 2,142.2 2,167.1 2,181.2 '2,198.0 '2,210.5 '2,212.3 '2,230.9 2,254.1 2,254.5
2,558.4 2,565.9 2,591.2 2,604.0 2,615.6 2,631.0 '2,655.1 '2,689.5 '2,712.8 '2,727.7 '2,737.3 '2,767.2 '2,799.2 2,810.1
2,991.2 2,999.3 3,028.6 3,052.5 3,070.6 '3,085.4 '3,110.0 '3,147.7 '3,184.7 '3,208.9 3,228.5 3,275.7 3,309.8
138.7
242.1
120.0
50.8
140.4
237.5
118.2
55.4
141.9
241.8
121.2
56.1
143.6
244.9
122.9
53.1
143.8
241.1
123.5
52.4
144.3
242.0
124.9
53.5
145.7
244.8
127.0
57.0
147.9
245.2
128.9
55.2
150.5
251.6
131.2
'56.2
148.4
249.4
132.5
'58.6
148.3
237.9
130.9
'59.5
149.8
239.4
134.1
'58.3
151.5
247.8
139.0
'56.8
152.9
241.3
135.8
59.2
148.2
341.4
324.7
729.7
295.0
141.4
357.4
325.5
723.8
295.9
140.2
368.6
325.8
725.1
299.8
138.7
370.5
324.8
735.8
300.1
139.1
368.6
319.8
747.0
308.5
137.9
369.5
316.2
756.3
314.8
137.5
370.5
316.0
771.4
317.9
138.8
372.9
312.0
783.1
323.7
138.2
376.0
308.5
788.6
329.7
137.9
380.3
307.4
799.4
335.0
142.1
386.0
305.2
805.4
340.9
144.8
392.5
307.2
'807.7
347.3
146.1
'396.4
308.5
'810.7
351.8
146.8
394.7
308.0
818.6
364.5
514.9
521.6
523.0
530.0
497.9
510.9
517.4
518.9
525.3
532.9 '535.2 '535.4
541.1
506.6
2,081.8 2,102.2 2,117.0 2,126.6 2,135.3 2,147.9 2,167.2 2,182.1 '2,196.2 '2,206.8 '2,222.5 '2,229.9 '2,242.2 2,259.6
2,550.6 2,571.0 2,593.0 2,604.0 2,617.2 2,636.4 '2,656.4 '2,688.5 2,706.8 '2,721.8 '2,744.6 '2,765.9 '2,790.6 2,814.9
2,980.0 3,1003.3 3,033.1 3,059.7 3,075.1 '3,097.6 '3,114.0 '3,146.5 '3,176.9 '3,197.5 3,227.1 3,269.4 3,298.3
139.1
239.5
114.7
321.9
727.4
298.3
140.5
241.5
120.0
323.1
722.6
1298.0
141.6
243.0
121.7
322.8
724.8
303.0
142.4
244.5
123.4
320.7
737.0
304.2
143.5
243.7
125.6
319.3
749.0
308.6
144.8
243.0
126.4
317.9
759.0
313.2
146.0
243.6
127.2
317.1
773.0
315.6
147.2
242.8
128.2
315.4
785.5
320.8
148.0
243.7
128.8
312.9
793.1
325.9
22,174
2,224
461
543
3,045
4,529
340
50
-616
23,308
2,407
483
678
3,233
5,530
536
37
-570
* 25,083
2,758
420
675
2,700
5,662
374
127
-1801
789
1,926
1,268
757
2,017
1,591
866
2,943
2,202
847
2,163
4,605
10,275
728
1,520
4,361
10,353
729
2,554
5,128
10,980
149.9
244.5
130.7
309.9
797.0
333.4
150.2
243.8
133.8
'306.6
800.9
'340.3
150.9
244.0
135.3
'305.5
803.4
'348.3
151.8
'245.3
133.2
305.4
'808.3
355.7
152.9
245.2
137.9
305.2
817.7
367.2
6,372
2,310
12,142
1,2,838
8,646
7,423
6,212
6,649
6,053
7,242
6,215
8,026
10,388
5,689
7,821
3,880
441
8,170
3,933
486
2,314
5,442
790
3,290
3,794
340
2,727
2,923
317
2,680
3,126
644
2,433
3,320
300
3,316
3,444
433
2,443
3,234
288
5,067
2,456
305
7,694
2,080
515
3,450
1,764
227
12,142
2,648
624
1,342
287
986
4,138
12,588
3,188
556
1,578
370
505
4,435
8,547
3,138
531
987
205
381
1,982
7,424
1,334
943
565
497
1,120
2,044
5,965
1,735
345
658
220
245
1,975
6,450
1,491
476
843
178
103
2,252
6,054
1,159
409
1,012
305
56
2,490
7,193
596
1,124
1,128
303
12
3,530
5,965
1,267
360
433
508
12
2,682
7,828
615
823
467
64
239
4,380
10,289
764
132
429
89
20
7,750
5,441
409
384
433
279
217
3,247
9,873
5,875
19,103
2,226
8,366
3,640
4,591
3,291
6,576
4,101
5,806
2,397
6,668
3,382
5,898
1,983
9,137
1,977
4,931
2,492
'4,532
2,253
'5,069
3,393
'5,134
'6,158
15,590
16,713
18,292
19,218
19,437
20,124
21,030
22,075
23,000
23,132
22,557
22,668
22,830
6,090
7,970
6,090
8,310
6,150
8,590
6,275
8,145
6,350
8,035
6,550
7,930
6,630
7,695
6,512
7,599
6,620
8,430
6,510
8,230
6,420
8,420
6,520
8,265
6,450
7,910
43.8
54.2
44.4
53.9
42.2
51.1
40.4
51.4
39.0
50.0
39.7
50.8
40.0
50.4
39.3
49.6
38.6
49.1
(2)
51.8
50.5
49.0
48.6
45.9
729.15
687.63
641.90
538.78
560.48
498.96
513.37
530.06
601.30
566.58
550.96
579.24
552.79
644.69
SURVEY OF CURRENT BUSINESS
S-16
Unless otherwise stated in footnotes below, data
through 1932 and methodological notes are as
shown in BUSINESS STATISTICS: 1982
1982
1984
1983
1983
Annual
June 1984
May
Apr.
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
FINANCE—Continued
Bonds—Continued
Yields:
Domestic corporate (Moody 's)
By rating:
Aaa
Aa
A
Baa
14.94
12.78
1244
12.30
12.54
12.73
13.01
12.91
12.79
12.93
13.07
1
do
do.. .
do
do
1379
14.41
1543
16 11
1204
12.42
1310
1355
1151
12.06
1286
1329
1146
11.95
1268
1309
1174
12.15
1288
1337
12 15
12.39
1299
1339
12.51
12.72
1317
13.64
12.37
12.62
1311
13.55
12.25
12.49
1297
13.46
12.41
12.61
13.09
13.61
12.57
12.76
13.21
13.75
1
do.. .
do
do
14.54
1533
13.68
12.25
1331
1208
11.84
1303
1190
11.59
1300
11.62
11.90
1317
11.78
12.18
1328
1207
12.52
1350
12.13
12.46
1335
12.04
12.39
1319
12.08
12.54
13.33
12.35
12.66
13.48
12.46
do
do....
do....
1156
11.57
12.23
952
9.48
10.84
882
8.96
10.19
978
9.03
10.21
936
9.51
10.64
960
9.46
11.10
975
9.72
11.42
946
9.57
11.26
979
9.64
11.21
9.82
9.79
11.32
9.76
9.90
11.44
percent
By group:
Industrials
Public utilities
Railroads
Domestic municipal:
Bond Buyer (20 bonds)
Standard & Poor's Corp. (15 bonds)
U.S. Treasury bonds, taxable $
12.92
12.88
13.33
13.59
14.13
12.20
12.71
13.13
13.65
12.08
12.70
13.11
13.59
12.57
13.22
13.54
13.99
12.81
13.48
13.77
14.31
13.28
14.10
14.37
14.74
12.63
13.40
12.41
12.60
13.50
12.28
13.00
14.03
12.54
13.25
14.30
12.81
13.72
14.95
13.25
9.51
9.61
11.29
9.86
9.6&
11.44
9.93
9.92
11.90
9.99
9.98
12.17
11.07
10.55
12.89
1
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)
Industrial total (400 Stocks) #
Capital goods (105 Stocks)
Consumer goods (191 Stocks)
345.40
88436
111.95
35981
472.24 458.20 476.19 485.45 485.34 470.13 491.30 500.44 503.46 502.80 501.80 458.29 456.10 450.00 446.49
1 190 34 1 168 43 1 212 86 1 221 47 1 213 93 1,189.21 1,237.04 1,252.20 1,250.00 1,257.64 1,258.89 1,164.46 1,161.97 1,152.71 1,143.42
129.98 12608 129.21 128.21 130.40 129.60 132.47 138.35 137.74 132.73 132.47 127.58 127.49 125.74 126.45
54461 51815 54275 57173 57284 53683 571 17 58228 597.21 597.27 593.08 515.78 509.34 496.47 489.28
11971
16041 15771 164 10 16639
133.57
180.49 17678 184.10 187.42
11998
17162 16382 17334 17789
10937
15077 14993 15490 15613
5478
6487
6488
6414
Utilities (40 Stocks)
do
6295
100.00
Transportation (20 Stocks) 0
1982=10..
28.88 139.00 147.81 151.37
74.82
108.46 100.90 109.37 110.91
Railroads (6 Stocks)
1941-43 = 10..
14.30
18.70
20.00
20.56
20.15
Financial (40 Stocks)
1970=10..
NewYorkCity banks(6 Stocks) ..1941-43 = 10..
54.76
69.23
79.16
73.22
78.18
95.87
Banks outside N.Y C. (10 Stocks)
do.... *
113.16 115.35 122.92 121.77
143.01
181.16 190.90 188.29 186.32
Property-Casualty Insurance (5 Stocks) do....
New York Stock Exchange common stock indexes:
68.93
92.63
94.61
96.43
Composite .
12/31/65-50..
90.61
78 18
10745 104 46 10943 11252
Industrial
do
60.41
89.07
89.36
92.22
Transportation
do
8526
3974
4700
4762
4676
Utility
do
4622
7199
9534
9907 10245 10122
Finance
do
Yields (Standard & Poor's Corp.):
4.27
5.81
4.40
4.44
4.26
Composite (500 stocks)
percent..
548
404
396
393
Industrials (400 stocks)
do
4 12
1039
924
940
9 12
930
Utilities (40 stocks)
do
Transportation (20 stocks)
do....
4.32
2.85
2.98
2.81
2.83
5.92
479
4.33
447
Financial (40 stocks)
do
445
Preferred stocks, 10 high-grade
do....
12.53
11.02
10.65
10.80
10.81
Sales:
Total on all registered exchanges (SEC):
Market value
mil $
596 670 957 118 75498 88346 93847
22414
30 147
2857
Shares sold
millions
2431
2825
On New York Stock Exchange:
Market value
mil $
514 263 815 113 63 156 75317 79973
18211
Shares sold (cleared or settled)
millions
24253
2246
1930
2264
New York Stock Exchange:
Exclusive of odd-lot and stopped stock sales
16458
(sales effected)
millions
21 590
1 793 1 953 1 974
Shares listed, N.Y. Stock Exchange, end of period:
Market value all listed shares ....
bil $ 1 305 36 1 584 16 1 545 81 1 547 13 1 604 02
39516
Number of shares listed
millions
45118 41090 41508 42321
1941-43—10
do....
do
do
16696
188.32
18042
15769
162.42
183.16
17642
150.32
167.16
188.61
18289
155.43
167.65
189.00
18309
160.20
165.23
185.86
178.25
158.41
164.36
185.18
179.19
154.82
166.39
187.50
179.05
156.39
157.25
177.14
164.27
145.88
157.44
177.85
173.64
144.55
157.60
178.57
173.91
143.77
156.55
177.60
172.27
143.83
6506
152.55
113.04
64.85
145.72
112.03
66.00
157.79
121.86
69.10
158.30
120.37
68.95
160.49
119.43
66.95
159.52
116.19
68.50
156.11
112.90
66.25
138.50
102.29
65.25
137.88
103.41
64.34
135.43
103.58
64.94
132.37
100.93
19.56
69.77
120.07
181.67
18.75
68.75
119.44
175.69
18.91
68.47
118.31
186.65
18.29
63.28
111.76
185.44
18.10
64.57
108.15
183.20
18.16
65.97
111.52
184.38
18.35
69.65
114.51
182.86
17.28
69.51
108.81
181.06
17.13
66.38
103.67
189.54
16.99
63.02
98.94
195.70
16.23
61.38
92.76
180.67
96.74
11321
9291
4661
9960
93.96
10950
88.06
4694
95.76
96.70
11276
94.56
4816
97.00
96.78
11287
95.41
4873
94.79
95.36
110.77
97.68
4850
94.48
94.92
110.65
98.79
4700
94.25
96.16
11216
97.98
4743
95.79
90.60
105.44
86.33
45.67
89.95
90.66
105.92
86.10
44.83
89.50
90.67
106.56
83.61
4386
88.22
90.07
105.94
81.62
44.22
85.06
4.21
388
9 15
2.77
465
11.06
4.35
401
920
2.88
4.75
11.07
4.24
391
911
2.65
4.72
11.06
4.25
391
875
2.64
4.90
10.97
4.31
3.93
880
2.60
4.98
11.12
4.32
3.75
941
2.61
5.00
11.49
4.27
3.71
925
2.68
4.98
11.35
4.59
4.00
958
3.12
5.31
11.16
4.63
4.02
979
3.07
5.32
11.39
4.64
4.02
994
3.18
5.40
11.66
11.72
76494
2 319
79553
2633
80476
2399
81970
2446
80021
2327
84384
2638
85744
2619
90,740
2863
82,499
2549
64 858
1837
68306
2 191
68440
1946
69341
1965
68 166
1883
71813
2131
72721
2129
79282
2412
71378
2100
1706
1740
1794
1815
1849
2216
1933
1855
1717
1940
1 590
1 562 40 1 571 38 1 591 43 1 563 58 1 605 56 1 584 16 1 576 88 1 508 23 1 525 56 1 534 73 1 450 41
43382 43763 43888 44276 44920 45 118 45723 46825 46938 47287 48035
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
By leading countries:
Africa:
Egypt.
Republic of South Africa
Asia; Australia and Oceania:
Australia, including New Guinea
Japan
See footnotes at end of tables.
mil $ 212 274 6 200 537 7 16 712 0 16 234 6 17 557 7 15 895 1 15 639 7 16 845 3 17 250 8 16 817 1 175099 17 165 5 17 014 9 19 607 8 17 782 6
do 212,193.1 200 485 8 16 707 5 16 228 5 17 555 3 15 894 1 15 638.7 16 844 0 17 244 4 16 812 2 17 501 4 17 161 0 17 014 0 196067 17 779 1
do
160948 15 655 4 16 959 0 16 486 3 16 582 4 17 256 7 17 032 8 170632 172976 18 326 1 17 212 5 17 727 2 17 521 5
10 271 1 8767 7
7936
6833
8082
652 1
64 822 2 63 813 4 52645 4801 1 5 933 8 56085
5,699.7
48265
3507
3765
5530
4078
63 664 2 58 871 0 50665 49025 45827 42986
do.... 33,723.6 38,245.3 3,223.2 3,440.9 3,329.3 2,634.5
do.... 18,332.1 15,204.8 1,164.2 1,308.4 1,323.2 1,280.7
do.... 15,256.5 10,520.0
714.8
974.6
7831
9883
do
do
do
do
28754
2,368.2
28128
2,129.4
2685
240.0
1920
243.1
2963
152.2
2348
144 1
2063
161.7
2708
1935
do.... 4,600.7
do.... 20,966.1
4,037.9
21,894.3
327.3
1,752.6
287.4
1,546.7
483.0
1,935.5
340.9
1,920.8
362.9
1,799.7
330.7
1,948.4
do
do....
C
712 1
50833
4736
5 2323
34779
1,363.4
8116
6590
49457
4272
5036 1
36838
1,444.6
8101
2055
1873
2645
2106
1984
1765
351.7
344.5
304.5
2,004.2 2,095.1 2,085.6
401.7
1,853.5
6859
8122
6230
593 7
8053
48643 54377 54287 53901 56570
449.9
3993
4299
4080
3724
43838 44679 50225 48243 5 115 5
3,031.9 3,422.0 3,516.7 3,437.8 33055
1,419.9 1,342.3 1,362.5 1,257.2 1,229.1
787.1
9079
8734
8561 10043
1737
1734
1844
2052
8140
6858
56942 52038
4953
3793
59738 5 160 2
41830 39926
1,543.8 14646
8912
845 1
2660
231 1
181 9
2450
368.6
413.5
1,813.3 2,028.0
311.9
1.872.5
S-17
SURVEY OF CURRENT BUSINESS
June 1984
1982
Unless otherwise stated in footnotes below, data
through 1982 and methodological notes are as
shown in BUSINESS STATISTICS: 1982
Apr.
Annual
1984
1983
1983
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
FOREIGN TRADE OF THE UNITED STATES—Continued
VALUE OF EXPORTS—Continued
Exports (mdse.), incl. reexports—Continued
Europe:
France
mil $
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
Brazil
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:
FoodflT>dlive anirnals $
mil $
Beverages and tobacco
do....
Crude materials, inedible, exc. fuels #
do....
Mineral fuels, lubricants, etc. #
mil $
Oils and fats, animal and vegetable
do....
Chemicals
do
Manufactured goods #
do....
Machinery and transport equipment,
total..
mil $
Machinery, total #
do....
Transport equipment, total
do....
Motor vehicles and parts
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....
Asia; Australia and Oceania:
Australia, including New Guinea
mil. $..
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....
Brazil
do
Mexico
do
Venezuela
do. ..
By commodity groups and principal
commodities:
Agricultural products total
mil $
Nonagricultural products, total
do....
Food and live animals #
Beverages and tobacco
Crude materials, inedible, exc. fuels #
Mineral fuels, lubricants, etc
Petroleum and products
Oils and fats, animal and vegetable
Chemicals
Manufactured goods #
Machinery and transport equipment
Machinery, total #
Transport equipment
Automobiles and parts
See footnotes at end of tables.
445-525 0 - 8 4 - 3
t\n ....
do....
do....
do....
do....
do....
do
do....
do....
do....
do....
do
71104
59613
5242
5023
4837
4124
3959
4395
4979
4246
483.5
549 1
5069
5414
2228
1390
252
82
43
13
06
103
133
220
134
135
176
165
38
9,291.3
46161
25873
10 644 7
8,736.7
39075
2 002.9
10 621 2
768.2
3532
219.5
9620
743.9
3694
429
9636
699.8
2993
887
7933
745.2
2644
443
7932
698.6
2737
662
8415
681.5
258 1
685
8106
746.6
3083
2476
9995
740.2
2975
250.8
8239
727.9
331 1
308.8
8665
770.4
830.0
816.5
3799
3749
4404
1853
3386
1894
8709 10333 10430
801.3
384 1
3488
9648
33 720 2
30 086 3
3,422.7
118169
5,206.2
207,157.6
207,076.2
36 622 6
170 535.0
38 244 1
22 618 4
2,557.1
90816
2,811.3
195,969.4
195,917.5
36 107 7
159,861.6
32232
17057
198.8
6812
134.8
16,360.7
16,356.2
2981 1
13,379.6
34408
17856
183.9
8259
1609
15 854 5
15,848.4
2 679 9
131746
33293
20406
286.8
8023
2278
17 201 1
17,198.6
27890
14 412 1
26345
19766
294.2
7617
2220
15 566 9
15,565.9
25957
12 971 2
30319
19324
179.2
8812
1740
15 252 0
15,250.9
26135
12 638 5
34218
19535
2005
7758
2007
16 480 2
16 478.9
2973 1
13 507 1
35167
1960 1
196.4
7884
2252
16 798 4
16,791.9
3 1755
13 622 9
34377
18760
205.6
7559
2426
16 418 2
16,413.3
34795
12 938 7
33053
19949
236.0
7237
3686
17 107 0
17,098.6
34992
13 607 8
34778
19374
1875
8462
2308
16 686 6
16,682.1
35465
13 140 1
36838
19934
161.5
9454
3098
16 589 0
16,588.1
33606
13 228 4
41827
21684
163.6
9737
2980
190923
19,091.2
38233
15 269 0
39924
20318
189.5
9607
2348
17 333 3
17,329.8
3 1810
14 152 3
23 950 4
3,026.2
19,248.4
12 728.8
1,540.9
19 890 5
16,738.6
24 166 0
2,813.0
18,596.0
9 499.9
1,459.0
19 750 8
14,851.7
19042
213.4
1,645.4
872.6
156.7
15865
1,315.5
17690
1993
1,495.7
7594
129.3
15577
L 269.6
19106
231.3
1,527.2
8163
84.9
18200
1 226.7
18659
1934
1,342.2
6526
127.0
16208
1 173.9
18543
215.7
1,478.7
8375
111.7
17420
1 235.3
2 1229
2074
1,491.4
8210
157.0
1 6098
12507
2 1588
2665
1,548.6
777 0
80.9
1 7545
12775
22426
3757
1,608.8
6806
120.7
15924
12738
21820
2881
1,813.1
7518
137.4
17062
1 1948
2 1590
1985
1,867.1
5824
168.9
17597
12480
1 938 9
2314
1,836.4
5022
170.3
1 708 8
1*2037
22391
2380
2,075.5
7901
237.6
1 863 8
1 364 3
19397
211 1
1,766.5
7588
131.9
1 728 4
1 213 5
87,128.1
59,324.2
27,823.9
13,906.8
82,563.2 6,794.1 6 865 3 78128 66266 60066 67923
54,308.5 4,513.6 4,514.8 4,558.3 4,554.0 4,238.3 46460
28,269.3 2,281.2 2,353.5 3,255.1 2,703.4 1,768.7 2,146.5
14,462.8 1,288.1 L 370 4 1,246.4
959.0 1 049.5 12506
70353
4 928.2
2,109.6
13775
67490
4,579.4
2,170.4
1 314.6
72596
4,614.4
2,649.0
1 222.9
68063
4,7147
2,092.2
13155
6 997 4
A 598.1
^2,399.5
14593
8 041 7
54079
2,634.0
1 682 2
74932
49879
2,505:5
15536
485 1
1
243,951.9 258 047.8 19,807.8 21 932 9 21 763 0 21 583.9 23 058 6 21 736 3 25 130 2 233047 21 677 6 264968 25 117 8 277313 28 159 6
19 913 6 21 446 2 20 915 8 21 827 7 22 714 1 22 451 4 24 332 8 23 114 7 22 975 7 26 586 1 26 147 1 26 770 9 28 368 0
'17 770.1 14 424.6
ig5 169 5 91 463 5
'3,130.5 3,043.5
1
63,412.7 55,243.0
1
46,497.7 55,149.6
'23
525 0 25 731 0
1
14,444.1 15,991.9
1
1
547.2
1,966.8
302.7
2,027.3
1
2,304.6 2,247.5
37,743.7 41,183.2
1
950.0
62783
221.4
4,602.4
4,227.8
2 1313
1,396.6
12327
7 005 4
239.7
4 815.4
4,529.7
2 577 6
L 532.4
13425
76793
262.5
4,662.4
4,691.1
19650
1,160.2
15199
77767
256.5
4 692.3
3,937.4
20466
1,354.5
15466
86220
303.1
5,080.8
4,057.8
21355
1,312.7
14137
76698
271.0
43912
4 322.3
2 1754
14928
12587
97034
286.0
50403
4,673.8
26122
15558
1 1900
88968
238.9
47391
4,737.5
22267
12755
9583
79505
275.2
4 359.5
4,816.1
20391
12788
4.0
263.5
45
183.8
178
169.0
374
144.4
205
154.1
334
185.3
236
166.6
165
205.0
159
87.8
147.6
164.1
175.4
168.6
223.1
184.5
225.2
201.4
233.8
3,080.2 3 461.1 3 283.8 3 557.5 36338 29757 40707 40257 38070
10868
9 829 5
'247^6
60303
5,2198
2 279 6
18038
350
2024
!
1454 7
8 397 9
279.3
5 465 0
53871
2 425 1
1*7086
1 337 9
96907
'269J9
66951
55585
2 518 5
1*6606
14606
98920'!
'269il!
64413
5839i3i
2483!7i
17735'
50
442.3
45
181 1
66
2748
197.1
217.9
186.1
190.7
46138 36342 47582 46380
60250
4928
5179
4970
4696
5006
5146
5719
4561
4275
7873
4982
7101
6079
58.1
5.3
3.4
3.5
4.6
5.5
3.2
5.1
7.2
3.9
8.4
6.1
8.0
50
11 974 8 12 695 3
'5 301 4 54553
'227.6
346.5
1
13 094 8 12 469 6
10446
4489
25.2
9221
'5 545 3
'53.9
1
L Oil 7 1 114 2 1 044 4 1 1269 8876 1 2156 1 2229 1 0863 1 629 1 1 197 1 1 5987 1 5700
4284
4553
4945
5417
442 1
451 1
4486
4456
5515
6532
6754
6407
16.4
16.5
7.8
72.1
51.7
28.4
23.9
36.6
28.8
52.1
52.1
33.5
L 227 8 10323 1 1297 13180 1 1066 1 1225 10055
9112 1 1742 9887 1 2809 1 367 9
'46 476 9 52 129.7 4 227.1 45282 46888 39370 40554 4320 1 46715 47372 48133 52191 53856 55578 58385
1
32,512.6 35,682.9 3,001.9 3,538.0 2,744.5 2,895.2 3,032.0 3,111.6 34222
2,886.5 3,492.3 3,583.3 3,569.7 3,799.0
383.6
'4 285.3 4 946.1
4218
3517
3957
4398
4438
5531
4325
4258
5921
4948
6047
6406
1
15 565 9 16 776 1 13457 L 695 5 13637 12950 1 491 4 13828 15736 14389 13799 1 368 1 1 570 1 16224 1 707 9
4144
'4,767.7
4,938.1
424.9
508.1
310.4
428.9
358.0
4560
4936
3859
3869
5017
6154
5369
1
15 421
1
7 16 534 1
228,530.2 241,513.7
14,452.7 15,411.7
1
3,364.0 3,407.6
9,590.1
'8,589.4
'65,409.2 57,952.2
'59,396.4 52,325.2
495.0
'405.8
'9 493 5 10 779 4
'33,148.4 34,833.1
'73,319.6 86,131.1
'39,456.8 46,974.9
'33,862.8 39,156.2
'29 360.6 35 034.1
1
14896
18,318.1
1,309.2
283.4
711.7
3,763.1
3,287.5
30.1
8967
2,877.8
6,731.5
3,635.5
3,096.0
2,762.2
L5328
20,400.2
1,450.0
261.9
860.1
5,033.2
4,655.4
32.0
9276
3,047.5
7,288.3
3,755.7
3,532.6
3,252.7
12614
20,501.6
1,191.3
298.9
868.7
4,767.3
4,333.4
35.9
8382
2,936.8
7,364.4
3,954.4
3,410.0
3,119.0
12642
20,319.7
1,226.2
259.5
803.8
5,164.0
4,802.3
39.6
8270
2,875.6
7,061.9
4,079.6
2,982.3
2,689.6
12485
21,810.1
1,202.5
277.9
850.8
5,703.1
5,359.6
47.1
8867
3,268.4
7,134.3
4,005.9
3,128.5
2,573.9
12721
20,464.2
1,230.8
235.1
837.9
5,571.3
5,239.3
43.5
8450
3,024.8
6,436.1
3 840.2
2,595.9
23225
15215
23,608.6
1,411.3
335.4
907.3
5,871.6
5,483.0
46.9
10208
3,300.8
8,414.5
4 841.6
3,572.9
32520
13714
21,933.3
1,254.4
310.2
893.0
4,950.7
4,592.6
63.6
9448
3,107.5
8,448.2
46954
3,752.8
34665
13504
20,327.3
1,291.5
299.0
767.3
4,417.1
3,869.2
55.9
8546
2,849.1
8,123.8
42497
3,874.1
35195
1 684 7 1 6693
24,812.1 23,448.5
1,471.3 1 488.7
2880
2844
856.6
966.1
5,089.2 5,006.2
4,492.0 4,483.2
829
454
10273 10475
3,773.3 3,796.6
; 9,881.4 8,237.3
5 373 1 4 577 2
!4,508.4 i3,660.1
39120 13 319 2
1 7746 1 8667
25,956.7 26,292.9
16060 1 702 2
2594
325 7
9194
9542
5,323.0 5,628.6;
4,832.0 5,249.7;
577
450:
1 215 0 1 3094
3,876.9 3,73811
10,313.8 10,202.2;
5 777 2 56440
4,536.6 4,558:1
40295 40831'
May
SURVEY OF CURRENT BUSINESS
S-18
Unless otherwise stated in footnotes below, data
through 1982 and methodological notes are as
shown in BUSINESS STATISTICS: 1982
1982
1983
Annual
June 1984
1984
1983
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
FOREIGN TRADE OF THE UNITED STATES—Continued
Indexes
Exports (U.S. mdse., excl. military grant-aid):
Unit value
1977 — 100
Quantity
do....
Value
do
152.5
115.1
1756
154 1
107.8
1662
1548
107.5
1665
1526
105.7
1613
1537
113.9
1750
1550
102.2
1584
154.0
100.8
1552
154.9
108.3
1677
156.6
109.1
1709
156.5
106.7
1670
1558
111.7
1740
1574
107.8
1698
1581
106.8
1688
1570
123.8
1943
1579
111.7
1764
do....
do
do....
167.5
160.6
167.4
1103
1771
160.7
1015
1631
158.9
1137
180.6
160.2
1119
1792
158.7
1120
1777
160.8
1181
189.9
160.9
1112
179.0
160.7
1288
206.9
161.0
1192
191.9
162.7
1097
178.5
162.6
1342
218.2
161.5
1281
206.8
163.7
1395
228.4
164.1
1413
231.9
thous sh tons .
mil $
400 896
115 885
361 408
100 656
30409
8644
28757
7829
31256
8345
27814
8051
29478
8 130
31028
8377
30520
8524
30222
8519
31,864
8891
366 423
155.312
25526
11.161
32956
13.323
31 134
12.924
32434
13.354
35406
14.324
35595
13.237
38810
15.641
32237
14.195
28263
12.567
General imports:
Unit value
Quantity
Value
Shipping Weight and Value
Waterborne trade:
Exports (incl. reexports):
Shipping weight
Value
General imports:
Snipping weight
Value
thous sh tons
mil. $..
999
X
376
1
232
155.5 13
TRANSPORTATION AND COMMUNICATION
TRANSPORTATION
Air Carriers (Scheduled Service)
Certificated route carriers:
Passenger-miles (revenue)
.
Passenger-load factor
Ton-miles (revenue) total
Operating revenues (quarterly) # §
Passenger revenues
Cargo revenues
Mail revenues
Operating expenses (quarterly) §
Net income after taxes (quarterly) §
. . bil
percent
mil
mil $
do
do....
do
do
do
36013
30326
2404
705
36715
-870
Domestic operations:
Passenger-miles (revenue)
Cargo ton-miles
Mail ton-miles
Operating revenues (quarterly) §
Operating expenses (quarterly) §
Net income after taxes (quarterly) §
bil
mil..
do
mil. $..
do....
do
21015
3,039
1004
28,730
29,466
-690
International operations:
Passenger-miles (revenue)
Cargo ton-miles
Mail ton-miles
.
Operating revenues (quarterly) §
Operating expenses (quarterly) §
Net income after taxes (quarterly) §
bil..
mil
do....
mil. $..
do
do....
49.43
2430
399
6,435
6454
-192
mil..
7,714
Urban Transit Systems
Passengers carried, total
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, tons..
Freight carried—volume indexes, class I and II
intercity truck tonnage (ATA):
Common carriers of general freight,
seas, adj
1967 = 100..
Class I Railroads |
Financial operations, qtrly. (AAR), excl. Amtrak:
Operating revenues total 4£ . .
.
mil $
Freight
do
Passenger, excl. Amtrak
do....
Operating expenses
Net railway operating income
Ordinary income
Traffic:
Revenue ton-miles qtrly (AAR)
Price index for railroad freight
25964
590
32850
2
281 15
607
35 680
2
2188
603
2777
2295
591
2895
2590
65 1
3213
2666
634
3293
27.31
646
3366
21.60
573
2812
10,560
9014
666
153
9942
351
22.49
590
2945
20.83
567
2784
22.51
569
2965
21.49
537
2732
2014
538
2619
24.74
600
3196
2044
279
81
2097
295
84
1641
292
82
8,231
7,907
99
1775
309
88
1729
311
91
1842
297
129
1742
262
90
1674
271
90
2053
320
101
9570
8178
612
161
9465
24
2
222
57
2
3383
1064
1804
263
88
1841
275
82
2044
289
85
7,673
7728
-81
1534
5484
2704
415
384
206
32
454
210
34
5.46
217
32
1,804
1655
100
6.21
235
32
6.34
224
32
5.19
247
31
2,206
1935
234
4.74
263
35
3.74
259
41
4.09
234
54
4.07
196
34
3.40
212
32
4.22
264
37
7,859
656
664
661
593
658
653
687
672
658
647
660
725
667
"147.0
2
100
15,404
100
4,029
100
4,254
81
121
113
87
82
41
43
44
2
2
r
138.9
'135.9
27093
25615
373
27094
805
1 192
26726
25829
107
26726
1296
1217
bil
1969 — 100
797.8
3514
826.2
3558
3553
3554
2039
3554
3556
3556
2108
3556
357 1
3571
2153
357 2
1967 = 100..
dollars..
% of totaldollars..
% of totaldollars..
% of total-
196
61.71
63
41.16
64
24.96
64
202
64.51
64
42.30
66
28.69
65
198
67.24
68
43.49
69
24.56
63
218
62.94
66
42.17
68
24,81
64
220
64.45
68
43.53
72
30.03
72
212
61.63
62
44.24
72
31.38
78
200
63.25
68
42.74
74
31.16
76
203
68.16
64
42.09
64
28.17
69
223
68.50
72
41.55
67
29.47
65
202
64.39
64
41.89
62
32.34
63
204
64.01
50
40.52
50
3247
51
thous..
do....
do....
do....
do....
do....
2
9,388
2
10,275
2
10,909
2
9,047
3,664
11,559
11,532
8,623
7,121
4,152
48,901
49,328
130.2
!34.0
135.9
6584
6750
77
6346
247
255
150.9
139.4
138.7
139.3
142.4
6808
6579
' 26
6319
399
371
v-
5
1556
100
4,489
128.9
do
do....
do
5
144.8
139.6
142.3
3707
3707
2230
371 0
272
372
471
6937
6703
27
6396
385
430
4
699
371 1
4
71 6
371 1
'507
"600
r
Travel
Lodging industry:
Restaurant sales index
same month
Hotels: Average room sale 0
Rooms occupied
Motor hotels: Average room sale 0
Rooms occupied
Economy hotels:* Average room sale 0
Rooms occupied *
Foreign travel:
U.S. citizens: Arrivals (quarterly)
Departures (quarterly)
Aliens: Arrivals (quarterly)
Departures (quarterly)
Passports issued
National parks, recreation visits # #
See footnotes at end of tables.
474
2,260
392
3,832
2,987
3,387
2,232
1,889
490
6,418
340
9,776
344
9,058
4,073
3,833
2,595
2,257
260
6,078
4
1079
4
943
4
643
4
612
222
4,454
4
661
4
618
4
560
4
523
219
4
794
1,003
4
680
4
575
255
2,104
1,115
4
SURVEY OF CURRENT BUSINESS
June 1984
Unless otherwise stated in footnotes below, data
through 1982 and methodological notes are as
shown in BUSINESS STATISTICS: 1982
1982
1984
1983
1983
Annual
S-19
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
TRANSPORTATION AND COMMUNICATION—Continued
COMMUNICATION
Telephone carriers:
Operating revenues $
Station revenues
Tolls message
Operating expenses (excluding taxes)
Net operating income (after taxes)
Phones in service end of period
Telegraph carriers:
Domestic:
Operating revenues
Operating expenses
Net operating revenues (before taxes)
Overseas, total:
Operating revenues
Operating expenses
Net operating revenues (before taxes)
6,485
2760
2331
4299
1 139
1545
6498
2760
2358
4378
1 094
1534
6542
2775
2352
4443
1 043
1468
6504
2750
2311
4325
1 123
1446
6,558
2725
2498
4332
1 158
1425
6,569
2,754
2318
4,137
1 195
1406
6,673
2802
2352
4651
1038
1386
6,560
2,780
2301
4,716
948
1365
8093
6787
86.8
699
579
84
728
596
92
744
609
9.9
700
606
5.8
755
63.5
8.2
741
604
8.6
731
63.2
6.2
746
66.2
4.9
6077
4952
83.7
499
436
3.5
523
443
5.6
539
44 1
6.9
408
435
1.8
50.3
438
4.0
50.2
438
4.0
52.5
447
5.5
53.4
449
5.9
mil. $..
do
do
do
do
mil
73,808
31678
28099
51269
11951
1578
mil $
do
do....
do
do
do....
78092
33090
30325
53095
12797
1344
6,660
2757
2369
5,647
488
134.4
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
do....
Sodium hydroxide (100% NaOH) $
do
Sodium silicate anhydrous $
...
...
do
Sodium sulfate, anhydrous $
do....
Sodium tripolyphosphate
(100% Na5P3Oi0) $
do....
Titanium dioxide (composite and pure) $
do....
Sulfur, native (Frasch) and recovered:
Production
thous. met. tons..
Stocks (producers') end of period
do....
Inorganic Fertilizer Materials
Production:
Ammonia, synthetic anhydrous $
thous. sh. tons..
Ammonium nitrate, original solution $
do....
Ammonium sulfate $
do....
Nitric acid (100% HNO3) $
do
Nitrogen solutions (100% N) $
do....
Phosphoric acid (100% P2O6) $
do....
Sulfuric acid (100% H2SO4) $
do....
Superphosphate and other phosphatic fertilizers
(gross weight):
Production
thous. sh. tons..
Stocks end of period $
do
Potash, sales (K2O)
do ...
Exports, total #
do....
Nitrogenous materials
do
Phosphate materials
do
Potash materials
do
Imports:
Ammonium nitrate
Ammonium sulfate
Potassium chloride
Sodium nitrate
1154
9176
2460
361
1 144
9960
2608
'366
87
810
188
30
100
848
198
31
107
806
226
30
87
872
220
27
117
883
235
30
101
862
240
32
86
862
228
34
91
857
225
34
100
803
207
30
(4)
796
257
31
9385
664
864
10230
732
855
850
57
70
881
74
76
816
65
62
895
57
63
884
58
70
889
76
74
879
77
71
872
52
73
813
58
66
803
59
66
651
657
669
757
51
68
50
59
53
65
60
62
62
62
56
68
59
67
60
63
55
67
53
60
*8614
4,202
*8156
3,218
645
3,760
672
3,692
646
3,717
678
3,721
685
3,658
690
3,560
714
3,493
737
3,369
761
3,218
741
3,172
729
3,141
15,776
7,091
1,769
7390
1,182
607
160
650
1 140
581
177
626
1,011
506
161
551
975
420
170
505
1096
391
161
479
1,137
461
167
584
1,213
604
184
690
1,238
648
175
702
1,245
597
160
649
l,279
592
163
r
638
1,326
597
176
683
2,728
8,262
32,680
13,683
6,618
1,968
7373
3
2,403
9,950
34,725
13,139
892
5186
20337
2645
11997
1218
do....
do
do....
do
2
3
3
3
3
3
3
3
228
895
2,983
242
754
2,757
179
650
2,451
149
731
2,551
192
800
2,729
205
832
2,910
226
924
3,120
237
934
3,211
213
952
3,383
15,774
844
6271
22832
1982
14837
'804
1,402
820
458
1237
1069
627
1,086
1023
474
1 125
1017
326
1251
812
597
1,329
658
691
1439
582
638
1501
641
646
1933
219
1258
48
1568
161
1 122
33
1983
247
1 127
93
1787
148
1 194
48
1892
134
1 126
97
2113
'l67
1444
93
1815
157
1206
44
262
319
7,154
131
347
285
7875
97
44
33
765
23
39
18
679
16
12
16
403
22
22
4
396
7
15
29
717
8
38
11
629
3
mil. cu. ft...
do....
do....
do....
3,828
88,884
483,886
348,548
3,304
103,859
579,574
347,394
265
8,251
48,540
28,659
311
8,173
49,831
28,668
253
8,209
47,344
28,014
248
8522
49,131
29,451
297
7758
49,986
29,424
mil. lb..
mil gal
mil. lb..
do....
do....
mil. gal..
mil. lb..
*235.4
*4,816.5
229.5
1
1,137.7
X
684.4
^O.S
*756
'5,398.0
265.4
X
997.5
^Sl.S
2.7
62
106
490.5
2.4
68
150
461.5
2.2
79
152
442.9
2.5
57
142
415.0
16.4
90.4
717
21.1
93.4
69.7
26 1
91.8
803
mil. tax gal..
do....
601.1
95.0
677.3
78.6
46.0
58.3
56.5
58.8
mil. wine gal..
do....
do
do....
284.9
277.9
419
6.6
352.8
355.5
552
6.5
28.2
30.6
55
11.9
33.7
36.1
78
8.8
r
3
3
5
783
3,139
5
1448
631
181
716
3
217
'856
3,154
237
856
3200
266
963
3494
1463
844
457
1388
867
566
1455
964
510
1531
984
414
1894
178
1 185
54
1651
'l37
1051
78
2344
186
1432
92
1553
45
899
79
2096
150
1398
71
28
17
840
6
46
14
710
o
26
40
742
4
34
60
706
21
53
19
790
24
66
41
955
298
8864
47,755
30,781
292
10523
48,795
30,657
315
10,149
48,347
29,512
312
9445
49,703
28,009
297
9715
51,369
31,331
2.4
68
15.0
437.3
1.9
66
156
462.6
3.2
69
151
498.8
2.6
61
167
453.1
2.2
77
163
462.6
2.6
60
156
422.1
2.7
72
163
469.0
28
73
146
5000
199
97.5
695
20.2
77.9
63.5
234
94.0
641
246
74.7
599
24 1
80.1
589
209
60.3
701
262
86.6
733
254
119.1
70 1
270
1045
775
60.2
50.9
63.8
60.1
56.9
42.7
59.2
49.3
54.9
55.7
531
70.9
480
78.6
493
73.5
459
570
30.4
32.5
03
7.7
31.2
32.3
65
4.7
27.6
32.5
67
8.4
23.2
24.4
29
6.3
26.1
29.3
13
7.5
27.2
239
14
10.3
23.4
262
23
6.5
29.5
297
72
11.3
34.2
290
38
18.2
r
o
Industrial Gases $
Production:
Acetylene
Hydrogen (high and low purity)
Nitrogen (high and low purity)
Oxygen (high and low purity)
Organic Chemicals §
Production:
Acetylsalicylic acid (aspirin)
Creosote oil
Ethyl acetate (85%)
Formaldehyde (37% HCHO)
Glycerin, refined, all grades
Methanol, synthetic
Phthalic anhydride
ALCOHOL
Ethyl alcohol and spirits:
Production
Stocks, end of period
Denatured alcohol:
Production
Consumption (withdrawals)
For fuel use *
Stocks, end of period
See footnotes at end of tables.
'23.4
*363
^oe.o
P
529
2017
383
1 091
54
57
84
897
12
May
S-20
SURVEY OF CURRENT BUSINESS
1982
Unless otherwise stated in footnotes below, data
through 1982 and methodological notes are as
shown in BUSINESS STATISTICS: 1982
1983
June 1984
1984
1983
Apr.
Annual
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
CHEMICALS AND ALLIED PRODUCTS—Continued
PLASTICS AND RESIN MATERIALS
Production:
Phenolic resins
...
mil Ib.
Polyethylene and copolymers
do....
Polypropylene
do
Polystyrene and copolymers ..
...
.... do ...
Polyvinyl chloride and copolymers
do....
MISCELLANEOUS PRODUCTS
Explosives (industrial), shipments, quarterly
mil Ib
Paints, varnish, and lacquer, shipments: 0
Total shipments
mil $
Architectural coatings
do ...
Product finishes (OEM)
do
Soecial ouruose coating's
do....
1
1
1,397 7 l l 404 5 1122
1247
1126
1197
105 1
1230
1328
1180
12,548.0 1 13,837.5 1,139.1 1,157.0 1,143.3 1,188.8 1,136.7 1,208.1 1 257.1 1,194.4
376 1
'3 515 0 '4 452 3 3378
3630
3863
3531
4099
4078
3889
1
5,608.6 '5
542.1
4595
4694
433.7
4927
495.9
463.3
4323
464.4
1
492.7
5,397.2 15,626.5
478.1
513.2
535.3
454.8
487.5
483.8
441.1
25149
22293
7 1126
3,113.4
25984
1.400.8
85533
3 846.5
30037
1.703.1
5375
7448
346.1
2545
144.3
8024
380.3
2698
152.3
8935
454.8
2804
158.2
8312
392.8
2720
166.3
7838
344.4
275 1
164.3
668.8
6146
5898
7634
367.1
2443
152.0
1374
1232
1285
1324
1 088.6 1,194.2 1 194.1 1,321.5
3662
388 1
4134
4394
4456
473.9
498.4
512.8
498.8
640.7
354.9
576.8
7188
292.7
2765
149.5
6324
232.6
2584
141.4
5516
204.9
2252
121.6
r
680 1
r
257.7
r
2878
134.7
7342
296.8
2862
151.2
832.6
359.2
3177
155.7
ELECTRIC POWER AND GAS
ELECTRIC POWER
Production:
Electric utilities, total
mil. kw.-hr..
By fuels
do....
By waterpower
do
Sales to ultimate customers, total (Edison Electric
Institute) t
mil. kw.-hr..
Commercial §
do....
Industrial §
do
Railways and railroads
do....
Residential or domestic
do....
Street and highway lighting
do
Other public authorities
do
Interdepartmental
do....
Revenue from sales to ultimate customers (Edison
Electric Institute) $
mil $
GASf
Total utility gas, quarterly
(American Gas Association):
Customers, end of period, total
thous..
Residential
do....
Commercial
do
Industrial
do ..
Other
do
Sales to customers total
tril Btu
Residential
do
Commercial
.
...
do
Industrial
do....
Other
do
Revenue from sales to customers, total
mil. $..
Residential
do ..
Commercial
do
Industrial
.. do
Other
do
2,241,211 2,310,285 170,372 174,392 191,048 220,165 229,957 195,604 182,931 182,949 212,319 216,450 189,498
1,931,998 1,978,154 140,384 143,198 160,356 192,052 204,130 173,892 162,184 158,270 180,628 186,710 161,597
309,213 332,130 29,989 31,194 30,692 28,113 25,828 21,712 20,747 24,678 31,691 29,738 27,901
rl
2,098,321
rl
516,457
rl
2,163,749
532,558
801,604
4,152
751,432
13,974
54,469
5,559
501,648
123,083
199,884
953
160,273
3,170
12,999
1,286
603,471
153,091
208,702
1092
221,583
3,335
13,955
1,713
532,089
131,159
205,110
916
175,847
3,717
13,991
1,350
121,375
130,363
29,515
38,274
31770
48,519
44,652
3,636
185
46
14,280
'4,770
2,471
'6,892
148
'63,391
'23,701
11,666
'27,389
'635
48,940
45,040
3,670
183
46
12,673
'4,495
2,344
'5,688
145
'64,095
'26,145
12,691
'24,557
'702
48,815
44,905
3679
183
47
2,694
931
483
1,249
31
13,897
5,560
2,683
5,511
143
47,915
44,154
3,532
183
46
2,252
384
287
1,559
22
10799
2,615
1,568
6,521
94
48,940
45,040
3,670
183
46
3,428
1,258
648
1,481
40
17,049
7 198
3,417
6,236
198
770,156
4,288
"732,018
rl
!4,214
r
'55,751
r
'5,438
rl
FOOD AND KINDRED PRODUCTS; TOBACCO
ALCOHOLIC BEVERAGES
Beer:
Production
mil bbl
Taxable withdrawals
do....
Stocks, end of period
...
.
do .
Distilled spirits (total):
Production
mil tax gal
Consumption, apparent, for beverage
purposes
mil wine gal..
Stocks, end of period
."!
mil. tax galImports
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....
See footnotes at end of tables.
19501
176.57
1322
192 14
177.61
13.26
1554
15.49
1621
1817
16.84
1584
1847
17.01
1582
1850
16.85
1573
1827
17.35
1498
1571
14.84
1453
1530
13.77
1430
1362
13.17
1392
1246
11.98
1326
14 15
1242
1370
1475
1263
14 17
1772
1532
1524
11941
1182
11 19
923
562
624
1027
1228
927
855
1036
1199
431.13
551.47
113.77
3372
609.20
6.56
3406
605.58
7.09
38.65
604.56
15.46
3196
566.89
648
3380
587.02
8.51
3375
590.45
735
3434
580.93
15.03
43 13
569.00
1097
5045
551.47
11.77
3054
576.46
720
577.43
946
758
11 12
91.25
533.39
7660
72.51
480.38
8128
8.73
537.72
443
7.47
53341
483
6.20
535.11
1220
3.51
50007
412
3.72
52463
611
4.76
52300
477
4.02
51158
1126
5.26
49723
733
5.38
48038
866
6.21
50569
484
8.82
50706
684
465
7 80
31.01
29 18
13.00
835
37.10
3251
16.11
11 11
3.23
1 14
17.18
077
2.84
367
16.81
072
3.15
178
17.08
080
3.26
139
19.64
074
3.47
274
20.14
069
4.33
285
21.58
084
3.79
608
19.00
121
281
356
17.64
148
294
095
17.70
080
081
1 02
55047
362.78
69752
11379
190.27
'429 30
365.20
68647
11983
174.89
545
32.56
58398
858
7.62
6 10
31.54
55434
935
7.26
683
33.67
51161
1087
4.44
433
28.26
48730
968
7.86
2678
28.12
467 11
949
14.33
17221
29.88
59540
972
45.11
13957
32.32
68305
1097
40.91
3565
34.07
666 15
1136
14.10
902
1080
13808
2
437.66
604.67
106.03
2
289
456
16.11
1 72
13 17
30.13
68647
1120
5.92
146
125
16.95
1 36
666
25.90
61908
1129
3.30
605
27.64
601 11
793
228
May
SURVEY OF CURRENT BUSINESS
June 1984
Unless otherwise stated in footnotes below, data
through 1982 and methodological notes are as
shown in BUSINESS STATISTICS: 1982
1982
1983
1984
1983
Apr.
Annual
S-21
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar,
Apr.
May
FOOD AND KINDRED PRODUCTS; TOBACCO—Continued
DAIRY PRODUCTS
Butter, creamery:
Production (factory)
Stocks, cold storage, end of period
Producer Price Index, Grade A
and AA (N.Y.) *
mil. lb..
do....
1,257.0
466.8
1,299.2
499.4
1967 = 100..
230.9
230.0
mil. lb..
do
4,541.7
2,752.3
4,818.4
2,927.6
Stocks cold storage end of period
do
American, whole milk
do
Imports....
do....
Price, wholesale, cheddar, single daisies
(Chicago)
$ per lb..
Condensed and evaporated milk:
Production, case goods
mil. lb..
Stocks, manufacturers', case goods, end of
period
do
963.5
880.8
269.3
1,204.6
1,099.7
286.2
1.684
1.682
1.666
1.675
734.9
694.2
60.5
51.9
46.7
60.7
19.3
5.6
.
do
do....
$ per 100 lb
135,802
79,098
13.60
mil. lb..
do....
124.0
555.7
120.7
576.1
103.7
589.6
91.4
588.4
84.6
581.8
84.7
552.3
100.5
523.9
98.1
506.7
109.6
499.4
126.0
510.6
113.0
532.5
111.1
529.3
229.9
229.9
229.9
230.5
234.1
232.2
232.2
222.1
222.1
222.4
224.0
439.4
284.7
444.7
286.2
402.1
260.8
381.3
228.8
373.0
209.4
391.9
222.6
388.2
217.8
415.4
236.8
387.4
231.1
369.1
221.4
412.9
247.6
1,132.3 1,138.1 1,162.4
1,031.8 1,032.9 1,048.9
22.1
22.8
16.6
1,194.2
1,083.0
20.1
1,231.4
1,124.0
21.1
1,248.2
1,140.9
24.3
1,234.8 1,214.8
1,131.1 1,110.6
25.8
27.5
1,204.6
1,099.7
41.4
1,202.2
1,096.8
22.1
1,219.8
1,116.4
16.7
1.684
1.684
1.684
1.691
1.699
1.699
1.684
1.689
1.689
62.6
66.2
58.4
56.4
52.3
53.2
60.2
63.2
48.8
44.6
51.2
57.3
74.6
75.7
94.0
101.5
94.1
82.0
56.0
46.7
47.1
50.0
52.8
60.7
0.4
0.5
0.3
0.4
0.5
0.5
0.7
0.9
0.7
0.8
0.5
0.6
0.7
139,968
82,501
13.60
11,966
7,293
13.60
12,642
7,672
13.30
12,273
7,788
13.20
12,061
7,160
13.20
11,692
6,762
13.30
11,262
6,374
13.50
11,430
6,321
13.80
11,000
6,127
13.90
11,395
6,435
13.70
11,490
6,583
13.60
10,905
6,413
13.40
11,741
6,971
13.20
11,674
6,943
13.10
"12.90
102.2
1,400.5
111.2
1,499.9
9.2
139.2
9.4
153.6
8.8
154.2
7.8
143.4
9.3
125.3
9.4
102.1
10.2
102.7
10.5
99.4
9.9
111.1
10.4
111.9
9.2
105.0
11.3
109.2
10.6
113.8
•
do....
do....
6.0
93.3
6.4
74.6
5.0
89.5
5.4
99.0
5.8
91.7
5.9
99.2
4.9
85.8
4.4
69.7
4.4
67.9
4.6
63.1
6.4
74.6
5.7
66.0
5.4
62.8
5.8
58.9
5.2
67.0
Exports, whole and nonfat (human food)
do....
Price, manufacturers' average selling, nonfat dry
milk (human food)
$ per lb..
187.8
321.6
23.6
22.9
33.0
19.0
22.9
47.3
36.4
35.6
30.6
29.1
13.1
8.8
12.9
0.938
0.943
0.941
0.940
0.939
0.940
0.936
0.937
0.937
0.919
0.912
0.910
0.911
0.911
3,440.2
279.8
254.5
275.1
248.9
220.3
285.7
286.6
310.5
320.4
300.9
277.6
313.3
281.6
8.1
9.1
375.7
253.1
1226
15.6
7.8
6.0
2735
173.8
997
11.2
6.0
225.1
229.3
199.6
216.6
216.6
223.4
236.1
237.8
196.4
277.6
4,934.3
3,102.0
1,832.4
175.2
255.8
158.4
246.7
3,257.8
1,944.2
1,313.5
176.4
268.1
174.6
280.8
274.3
Cheese:
Production (factory), total
American whole milk
Exports
Fluid milk:
Production on farms .
.
Utilization hi mfd. dairy products
Price wholesale U S average
Dry milk:
Production:
Dry whole milk
Nonfat dry milk (human food)
do
Stocks, manufacturers', end of period:
Dry whole milk
Nonfat dry milk (human food)
413.1
263.4
106.2
531.2
225.7
415.3
250.3
1,217.4 1,171.6
1,117.3 1,070.7
24.2
19.2
1.689
1.689
1.689
GRAIN AND GRAIN PRODUCTS
Exports (barley, corn, oats, rye, wheat)
mil. bu..
Barley:
Production (crop estimate)
do
Stocks (domestic), end of period, total
do....
On farms
do....
Off farms
do
Exports, including malt §
do
Producer Price Index, No. 2 feed,
Minneapolis *
1967 = 100..
Corn:
Production (crop estimate, grain only)
mil. bu..
Stocks (domestic), end of period, total
do....
On farms
do
Off farms
do
Exports, including meal and flour
do....
Producer Price Index, No. 2, Chicago * 1967 = 100..
Oats:
Production (crop estimate)
Stocks (domestic), end of period, total
On farms
Off farms
mil. bu..
do....
do
do .
3,524.8
522.4
418.1
293.9
124.2
66.4
Wheat:
Production (crop estimate) total
Spring wheat
Winter wheat
Distribution, quarterly @
mil bu
do....
do
do....
Stocks (domestic) end of period total
On farms .
....
Off farms
Exports total including
Wheat onlv
See footnotes at end of tables.
flour
519.0
375.7
253.1
122.6
71.6
180.9
162.6
2
8,359.4
8,284.2
6,016.9
2,267.3
1,924.9
193.5
2
620.5
475.6
399.8
75.8
4
222.8
4
142.9
4
0.2
79.9
2.4
2.0
1.3
6.0
5160
344.4
1716
14.2
170.7
162.2
169.9
165.6
195.4
223.0
2
4,203.8
4,934.3
3,102.0
1,832.4
1,876.5
248.4
5
3,140.3
5
1 531 7
5
3
4,962.3
3
3,133.3
3
1,829.1
157.6
149.1
248.8
245.9
151.2
253.3
123.7
252.8
119.4
274.4
1,608.6
142.9
273.1
0.5
0.1
378.4
322.5
56.0
0.2
0.1
0.1
0.3
0.2
286.4
284.2
276.4
282.1
250.1
267.9
272.9
155.0
268.4
172.6
255.9
2
477.3
378.4
322.5
56.0
4
230.2
4
1915
4
5.8
2.8
0.3
0.3
0.2
0.4
0.3
505.3
4262
79.1
0.1
272.0
252.6
246.6
245.2
238.8
226.7
244.4
278.6
153.6
2
2,912
1,619
2,730
1,884
240
166
105
186
216
172
213
122
393
309
7
300
263
451
99
183
83
154
66
296
181
87
86
243
151
226
136
503
478
381
268
351
246
269
'211
405
442
478
482
413
461
505
11,482
7,020
9,143
6,289
357
495
325
529
216
672
135
458
951
450
2,332
535
1,340
489
732
516
930
504
829
498
488
548
522
562
347
479
3,170
2,703
5,151
2,451
1,757
1,276
952
1,146
2,162
1,902
550
360
488
624
2,703
359
2,418
438
2,573
378
2,592
446
2,569
460
2,776
5,516
299
220
462
432
0.166
0.172
0.165
0.170
0.175
0.175
0.175
0.175
0.175
0.175
0.175
0.175
0.175
0.175
0.175
0.175
2
2
293.2
210.7
210.5
210.5
193.3
195.5
210.5
233.7
214.8
223.4
214.8
213.1
210.5
214.8
223.4
219.1
Exports, including oatmeal
do....
Producer Price Index, No.2, Minneapolis *
1967 = 100..
Rice:
Production (crop estimate)
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., Tenn., 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
Producer price, No. 2, medium grain (Southwest Louisiana)
.
..
.
$ per lb
Rye:
Production (crop estimate)
mil bu
Stocks (domestic), end of period
do....
Producer Price Index, No.2,
Minneapolis *
1967—100
2
2
2
269.4
2269
42.5
280.7
99.7
28.2
9
6.3
21.0
10.9
2
2
2
2
2,812
2
700
2,112
2,476
38.6
4
2,425
2
432
1,994
2,626
do
do....
do
2,520.7
1,166.2
1,354.5
2,326.4
1,015.9
1,310.5
do
do....
1,527.5
1.493.6
1,488.3
1.407.6
(8)
6.3
10
6
4
1,540.7
4
694.9
4
845.8
121.7
111.8
102.7
95.3
121.8
112.0
1 979
6
337
123.5
115.8
94.7
87.5
1001
642
2,966.1
1,248.8
17173
2,326.4
1,015.9
1,310.5
127.6
119.2
122.9
114.8
104.9
102.3
129.3
128.4
1,752.8
771.5
9813
120.2
118.3
113.1
111.0
125.3
118.7
100.8
94.3
S-22
SURVEY OF CURRENT BUSINESS
Unless otherwise stated in footnotes below, data
through 1982 and methodological notes are as
shown in BUSINESS STATISTICS: 1982
1982
1983
June 1984
1983
Apr.
Annual
May
June
July
1984
Aug.
Sept.
Oct.
Dec.
Nov.
Feb.
Jan.
Mar.
Apr.
May
FOOD AND KINDRED PRODUCTS; TOBACCO—Continued
GRAIN AND GRAIN PRODUCTS—Continued
Wheat—Continued
Producer Price Indexes: *
Hard, winter Ord, No.l, Kans. City
1967=100..
Spring, No. 1, D.N. Ord, Minneapolis
1967=100..
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 ...
Producer Price Index *
6/83—100
240.8
237.2
253.6
245.1
238.0
221.4
227.9
238.5
231.5
228.8
229.2
229.8
219.2
229.1
236.2
228.0
221.5
228.3
237.4
239.2
228.7
224.8
220.7
236.4
238.4
235.8
232.7
230.2
222.3
231.9
236.7
243.2
284,965
5,137
640 158
306 066
5,563
686 983
24118
438
53866
25759
460
58064
25088
449
56734
24700
445
55238
28861
536
65014
27423
502
61869
26125
474
58366
24923
456
56246
24,464 '24 766
443
'445
54997 '55 695
25482
465
57537
25958
472
58494
4276
14,518
3805
34628
4,256
3193
3490
4 172
1000
3293
999
3095
996
3599
3621
1000
3,469
984
1122
966
3805
'395
961
830
'964
883
959
3780
2,846
971
2,802
994
988
15 146
15547
1275
1329
1409
1247
1435
1357
1368
1266
1 172
1208
1 168
'1 269
345
204
281
162
333
192
345
210
406
256
480
323
532
384
578
432
601
460
376
252
281
162
277
161
251
146
260
149
264
142
0.250
0.270
0.235
0.255
0.270
0.295
0.305
0.305
0.280
0.325
0.335
0.360
0.365
0.365
0.340
193.6
189.2
15.6
15.9
15.4
15.7
15.7
15.3
15.8
15.5
16.0
15.8
14.8
16.1
15.7
POULTRY AND EGGS
Poultry:
Slaughter
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
Cattle
thous apitnals
do....
1 253
34
25
13
12
23
22
32
21
44
21
24
20
25
19
25
16
45
14
18
13
13
12
28
11
17
11
36
12
31
12
0.668
0.727
0.649
0.684
0.680
0.662
0.744
0.762
0.779
0.884
0.986
1.123
1.026
0.883
1.018
2729
33,907
2798
34816
202
2,615
194
2820
211
3000
214
2737
262
3220
258
3 156
259
3099
266
2899
262
2994
253
2951
236
2836
264
2954
226
2728
0.310
0.743
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. animalsPrices:
Wholesale, average, all weights (Sioux City)
$ per 100 Ib..
Hog-corn price ratio (bu. of corn equal in value
to 100 Ib. live hog)
6422
62.79
77.70
6252
61.39
72.97
6770
65.90
77.12
6751
63.88
76.00
6590
60.41
71.00
6222
58.21
75.00
6127
59.58
75.00
5919
55.81
73.38
5958
56.97
66.75
5941
58.12
67.50
6285
61.00
67.50
6708
64.39
64.94
6707
65.97
77.50
6860
66.30
77.50
6786
64.15
77.50
79,328
84,762
7,086
6,905
7,028
6,362
7,082
7,268
7,829
8,152
7,515
6,947
6,591
7,578
6,953
55.21
47.73
47.84
47.40
45.73
45.81
49.77
46.05
41.64
38.81
46.53
50.14
46.68
47.36
48.69
48.22
224
166
159
15 1
144
139
139
133
128
118
140
'154
146
143
'14 3
142
Sheep and lambs:
Slaughter (federally inspected)
thous. animalsPrice, wholesale, lambs, average (Omaha) $
$ per 100 Ib..
6,273
6,412
509
508
508
497
585
595
580
510
536
540
548
586
592
53.03
54.74
58.75
59.00
53.00
51.12
49.25
48.50
51.75
56.00
57.75
60.50
58.75
58.75
60.50
37266
554
1566
2,015
38974
679
1449
2,031
3051
608
133
178
3163
619
115
187
3299
595
118
176
3002
570
121
189
3440
543
99
181
3435
535
130
171
3523
577
127
169
3472
668
134
123
3383
679
119
104
3218
693
112
180
3092
708
104
167
3349
738
134
171
3079
775
106
198
22789
302
540
1446
23487
334
571
1382
1759
285
46
123
1891
272
40
131
2004
261
44
122
1 840
'259
46
134
2 157
'275
42
128
2 128
277
58
117
2 103
287
53
112
1 974
325
59
71
2002
334
43
54
1 952
349
50
118
1 894
343
47
108
1 977
336
67
107
1 812
335
46
113
1.013
0.978
1.078
1.050
1.024
0.977
0.950
0.921
0.912
0.916
0.998
1.057
1.029
1.051
1.035
356
9
368
11
30
8
30
9
29
9
28
8
33
9
33
9
35
8
34
9
14 121
219
282
498
15120
301
251
555
1262
273
32
48
1243
293
22
47
1 266
280
22
46
1 134
253
19
46
1 250
'214
16
45
1 273
210
16
45
1 388
240
23
50
1 458
295
23
44
1 350
301
23
43
1967 = 100..
306.3
'292.6
290.1
281.5
275.5
269.2
273.2
280.7
283.0
284.7
303.9
$ per Ib..
1.277
1.159
1.180
1.162
1 173
1 144
1 156
1 129
1062
0954
1070
1 246
MISCELLANEOUS FOOD PRODUCTS
Cocoa (cacao) beans:
Imports (incl. shells)
thous. Ig. tonsProducer price, Accra (New York)
$ per Ib .
194.2
0.924
181.0
1082
3.8
0.960
14.4
1000
11.1
1200
96
1 100
72
1220
61
1050
53
1 108
77
1 150
82
1 270
17,416
3372
1.420
16,449
3418
1.400
1,253
259
1.415
1502
292
1.415
1034
229
1.415
1319
'246
1.415
1230
310
1.430
1532
344
1.430
1685
307
1.430
1380
240
1.430
1253
265
1.430
383
425
286
292
318
367
417
421
417
415
425
MEATS
Total meats (excluding lard):
Production
.
mil Ib
Stocks, ™>ld stnragftj 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
do
Stocks, cold storage, end of period
do....
Exports
.
do
Imports
do
32
9
29
10
30
11
6589
60.82
78.00
62.25
0.996
31
8
32
8
1 2<U
295
18
53
1 165
312
16
52
1 338
351
18
56
1 233
388
19
75
'288.6
283.1
279.6
287.0
1 152
1 072
1 112
155
1320
21 3
1 340
287
1 335
169
1 283
] 350
1 598
279
1.430
1 299
149
1.430
1 440
267
1.430
1 905
313
1.430
1.430
406
368
344
324
Prices:
Producer Price Index, Hams, smoked
Fresh loins, 8-14 Ib. average,
wholesale (N.Y.)
Coffee:
Imports, total
thous. bags 0..
From Brazil
,,,.
do
Producer price, Santos, No. 4 (N.Y.)
$ per Ib..
Fish:
Stocks, cold storage, end of period . . ..
mil Ib
See footnotes at end of tables.
286.3
S-23
SURVEY OF CURRENT BUSINESS
June 1984
1982
Unless otherwise stated in footnotes below, data
through 1982 and methodological notes are as
shown in BUSINESS STATISTICS: 1982
1983
Apr.
Annual
1984
1983
May
June
July
Aug.
Sept.
Nov.
Oct.
Dec.
Jan.
Feb.
Mar.
Apr.
May
FOOD AND KINDRED PRODUCTS; TOBACCO—Cont.
MISCELLANEOUS FOOD PRODUCTS—Cont.
Sugar:
Exports, raw and refined
sh. tons..
Imports, raw and refined
thous. sh. tons..
Producer Price Indexes: *
Raw (cane)
1967—100
Refined
12/77=100..
Tea imports
thous Ib
TOBACCO
Leaf:
Production (crop estimate)
mil. Ib
Stocks, dealers' and manufacturers',
end of period
do
Exports incl scrap and stems
thous Ib
Imports incl scrap and stems
do
Manufactured:
Consumption (withdrawals):
Cigarettes (small):
Tax-exempt
millions
Taxable
do
Cigars (large) taxable
do
Exports cigarettes
do
58,512
2,616
207,871
2,915
1,236
238
984
333
11555
139
10,506
242
45,455
193
55,973
339
29,866
322
16,605
333
31,825
253
28,400
269
33,940
358
30,094
278
32,915
299
2784
161.0
182 613
3159
'172.1
170 451
3198
171.9
15799
3231
171.8
16018
3230
172.8
10931
3149
173.8
12159
3214
173.0
11747
3214
175.1
15025
3149
175.1
16531
3141
173.9
13600
3116
173.8
15631
3094
'174.7
15599
3157
173.4
15956
3148
174.2
20,235
3144
174.5
18,031
43953
29965
33631
24428
32728
22307
28635
28582
36045
27161
5209
26430
21462
51706
35975
87912
37916
r
5357
60302
22646
41984
29 786
40165
43619
5168
43329
40005
32400
27690
4260
47466
5828
47854
7411
60448
4678
42985
5980
54516
6294
52532
5743
49628
5603
53075
5374
43212
5,243
49948
4790
44583
*1994
*1429
5371
562 260
295 740
'5357
509 828
316 917
82078
614 017
3056
73585
69680
597 463
3030
60698
4990
216
261
299
211
309
286
272
271
224
243
226
4319
4687
6119
4671
4608
5318
4941
5190
5171
3775
4366
4893
5081
14,027
12,400
9,412
13,624
13,015
17,787
14,772
27,736
24,943
r
26,690
28,458
29,448
19800
3889
1254
r
22,185
5216
1057
22,893
5440
1,115
3154
174.6
LEATHER AND PRODUCTS
LEATHER
Exports:
Upper and lining leather
thous. sq. ft..
Price, producer:
Sole, bends, light ...
index 1967—100
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
Prices, producer:
Men's leather upper, dress and casual
index, 12/80=100..
Women's leather upper
index, 1967—100..
Women's plastic upper
index, 12/80=100..
159,804
155,808
15,200
13492
14,868
12,013
13,099
12,715
;
4
342,380
4
340,966
27,001
260,840
4
64 892
4
16,648
4
3703
7717
263,508
61062
16,396
4970
6158
20,702
4616
1,683
105.2
215.8
97.9
107.0
222.3
100.7
107.0
224.3
99.9
561
553
29970
23,125
5176
1669
540
486
104.6
224.6
99.9
28472
22139
5020
1313
22,528
18,803
3021
446
546
704
346
520
107.6
222.6
99.8
107.3
221.8
101.1
30,372
23465
5811
1096
29,835
23,375
5585
308
591
875
397
506
107.8
222.2
102.0
108.1
224.8
102.9
29,051
22,039
5936
1076
408
539
20,617
6014
1 105
326
454
224
394
108.0
224.6
102.9
107.4
224.3
102.9
107.4
220.0
100.5
20,884
r
4616
1190
231
361
r
303
344
370
450
468
108.2
219.3
103.3
!08,2
'221.7
'102.3
108.4
221.3
102.5
108.4
223.1
103.1
3104
'487
2617
3022
107.8
219.7
103.3
LUMBER AND PRODUCTS
LUMBER—ALL TYPES #
National Forest Products Association:
Production total
mil bd ft
Hardwoods
do .
Softwoods
do
Shipments, total
...
do
Hardwoods .
do
Softwoods
do
Stocks (gross), mill, end of period, total
do....
Hardwoods
do
Softwoods
.
do
Exports, total sawmill products
do....
Imports, total sawmill products
do....
SOFTWOODS
Douglas fir:
Orders, new
mil. bd. ft..
Orders, unfilled, end of period
...
....
do
Production
do
Shipments
do....
Stocks (gross), mill, end of period
do....
Exports, total sawmill products
do....
Sawed timber . . .
...
...
.
do
Boards, planks, scantlings, etc
do....
Producer Price Index, Douglas fir, dressed t
1967=100..
See footnotes at end of tables.
3
3
2645
2718
2585
2714
2748
2787
2504
2345
2740
2678
2249
2775
'431
2344
2 127
2537
'465
2072
5,817
1532
4285
2210
2669
'498
2 171
5,858
1534
4324
2251
2737
1929
2445
2286
2589
2194
2254
5,870
1549
4321
2285
2795
'489
2306
5,862
1562
4300
2011
2404
5,824
1556
4268
2274
2764
'452
2312
5,772
1542
4230
1 924
5,964
1577
4387
2041
5,866
1591
4275
2 137
6,021
1597
4424
2603
'479
2 124
6,097
1603
4494
885
1,153
1,099
1,048
1,090
1,057
1,118
1,092
885
941
1,135
1,108
1,098
635
684
682
649
714
692
693
706
675
648
644
719
584
636
613
596
717
639
671
645
1,014
642
625
676
656
1,034
529
599
581
555
1,060
740
753
708
660
1,046
631
762
666
622
1,090
848
815
819
795
1,114
632
701
764
746
1,132
35
7
28
48
11
37
46
5
40
688
673
552
614
998
43
8
34
38
10
28
44
9
35
57
13
44
60
22
39
345.3
332.0
318.7
324.7
322.8
351.7
369.7
364.2
25
795
3
4,774
21021
3
25
960
3
4935
21025
5,745
1,766
3979
31
479
3
5721
25758
3
31
358
3
5896
25462
5,866
1591
4275
2623
'374
2249
2683
9,421
12,293
5,976
7,571
5,743
5,793
7646
7,510
612
862
471
125
345
266.2
452
2231
5,924
1,564
4360
396
444
458
504
998
569
129
439
1,088
1,075
1,000
1,017
60
17
43
63
16
48
50
10
39
34
9
25
543
567
583
612
988
54
14
41
363.8
375.5
390.2
404.7
407.0
381.4
673
497
483
502
493
480
416
404
454
452
484
490
2532
6,178
1576
4602
335.8
S-24
SURVEY OF CURRENT BUSINESS
Unless otherwise stated in footnotes below, data
through 1982 and methodological notes are as
shown in BUSINESS STATISTICS: 1982
1982
1983
June 1984
1984
1983
Apr.
Annual
May
June
Aug.
July
Sept.
Nov.
Oct.
Dec.
Jan.
Feb.
Mar.
Apr.
May
LUMBER AND PRODUCTS—Continued
SOFTWOODS—Continued
Southern pine:
Orders, new
mil bd ft
Orders, unfilled, end of period
do....
Production
do
Shipments
do
Stocks (gross), mill and concentration yards, end
of period
mil bd ft
Exports total sawmill products
thous bd ft
Producer Price Index, southern pine, dressed t
1967=100..
Western pine:
Orders new
mil bd ft
Orders, unfilled, end of period
do
Production
do....
Shipments
do
Stocks (gross) mill end of period
do
Producer Price Index, other softwood,
dressed t
1967 = 100..
HARDWOOD FLOORING
Oak:
Orders unfilled end of period
mil bd ft
Shipments
do.
Stocks (gross) mill end of period
do
'6,014
438
571
529
642
556
534
511
546
502
571
487
599
503
628
506
502
489
537
556
513
522
577
498
677
544
'6 186
'5996
'6,821
556
'6637
'6,703
550
570
584
615
594
579
570
555
598
586
551
583
586
625
536
519
471
470
577
547
610
601
661
652
1474
245 221
1408
217 660
1451
21244
1 419 1434
21552 16511
1 461 1429
12346 20057
1390
16349
1407
15832
20326
1408
17001
1438
9648
285.9
319.9
6880
324
6,681
6775
8433
410
8,548
8347
1055
1256
356.0
48
75.0
120
1 449
321.3
325.5
334.9
330.0
709
781
323.4
308.3
313.5
316.2
328.2
r
1 447 1479
17975 14273
18136
334.3
334.8
334.0
337.4
812
728
654
814
768
616
699
738
641
432
717
439
413
409
444
446
432
410
466
470
457
422
713
705
722
768
767
735
705
673
784
721
789
779
764
766
666
630
691
721
724
682
655
637
873
825
868
798
1 161
1 115
1 147
1 179
1242
1252
1250
1286
1256
1298
1316
1364
1 434
394.0
417.2
425.2
416.0
91
104
104
8.6
39
94
37
9.5
37
86
620
73
663
2
80
683
22
426
403.4
403.2
410.6
86
64
989
55
8.5
73
438.7
437.3
429.3
388.5
65
75
84
64
90
66
67
71
68
89
53
54
382.4
382.6
394.2
60
73
67
86
88
49
90
48
81
47
r
73
55
320.8
763
r
90
85
40
393.1
92
9.3
38
METALS AND MANUFACTURES
IRON AND STEEL
Exports:
Steel mill products
Scrap
Pig iron
Imports:
Steel mill products
Scrap
Pig iron
thous. sh. tonsdo
do....
.
do
do
do
1,842
6804
54
1,199
7520
6
106
564
1
101
688
()
100
805
2
108
562
1
'16663
474
322
17070
641
233
1 182
1353
1297
1411
58
1
63
25
71
39
58
3
27 127
'27 520
'56,386
6418
27 149
32557
59,941
5838
2247
2723
5,029
5969
2376
2817
5,233
5905
2286
2859
5,098
5920
61.51
6671
67.24
7692
68.64
7700
60.00
6750
'35 433
'35 756
'14 501
37967
44748
13090
3165
2876
'567
3991
5323
1245
49,872
55233
3 178
52621
12 129
29,923
5,750
477
57,197
61220
3471
32567
3899
25,494
3,174
482
3,852
5406
304
37498
16495
17,292
3711
20
6,729
5560
616
37 192
15 163
18,534
3495
38
6,992
5267
r
344
37385
13832
20,508
3045
45
7,346
5449
313
36951
11647
22332
2972
50
'43,136
'44 409
580
48,741
'49 213
4,333
4336
625
4,090
4214
589
100 1
994
4,376
4480
637
1005
4,213
4311
459
2
99
720
1
110
575
1
1617
1512
1755
42
5
44
18
2181
2529
4,762
6000
2368
2620
5009
6042
66.21
7250
67.03
7450
4260
5592
1 411
4034
5986
1556
100
624
84
751
114
671
73
606
(2)
(2)
(2)
(2)
49
40
1835
62
14
1730
52
74
2082
53
49
2161
60
55
2224
61
45
2409
2700
5111
6062
2467
2988
5545
5837
2428
3008
5375
5944
'2247
r
2804
'5086
r
5838
2442
3128
5709
5647
r
2499
r
3592
r
5,932
r
5789
2854
3680
6,425
5876
7021
7950
73.13
8350
7269
8250
63.64
8500
7856
9150
8468
9800
8989
10300
8881
10050
4034
5542
1 448
3189
4002
1035
3 207
4*749
2729
5 131
1 374
2 611
4053
1 531
3 145
1 142
600
4 303
1251
811
4877
1*477
418
1 238
6,209
5272
516
35312
10093
22,187
3032
28
5,462
5171
474
35716
9308
23415
2993
46
6,265
5667
218
34729
7769
23922
3038
56
1,159
5 517
155
1,841
6391
46
169
33831
5369
25061
3401
39
1,556
5670
113
28364
39
16*857
2511
63
26288
12396
12238
1654
34
64
4,245
4273
583
4,159
4256
4,119
4128
488
4,310
4367
r
447
4,497
4467
414
5,083
5065
390
997
997
1003
1003
98 1
999
4,084
4034
r
459
999
5,166
558
4,317
4336
504
5,077
599
1005
1005
100 2
1005
100 1
T
889
r
r
905
r
922
530
(2)
2216
50
62
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. districts):
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 (domestic)
do
Stocks, total, end of period .
do
At mines
do
At furnace yards
do....
At U S. docks
. do
Manganese (inn. 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....
Producer Price Index basic
6/82—100
1 934
6,244
5242
1
5,509
5 125
682
32567
3899
25494
3 174
35
r
Castings, gray and ductile iron:
Orders, unfilled, for sale, end of period
thous sh. tons..
Shipments total
do
For sale
.
do
8215
4,641
637
9309
5,448
545
759
446
548
818
484
572
810
477
609
707
417
630
864
533
626
841
501
590
887
521
603
812
474
637
711
400
Castings, malleable iron:
Orders, unfilled, for sale, end of period
thous. sh. tons..
Shipments, total
do
For sale
do....
14
284
119
18
293
92
23
24
8
15
25
9
16
24
7
19
19
5
23
23
8
27
26
9
25
27
9
22
27
10
18
27
9
See footnotes at end of tables.
536
30 118
5 444
21047
3127
r
494
30
!3
r
510
r
31
13
33
12
8734
10200
8668
10200
SURVEY OF CURRENT BUSINESS
June 1984
Unless otherwise stated in footnotes below, data
through 1982 and methodological notes are as
shown in BUSINESS STATISTICS: 1982
1982
1983
1983
Apr.
Annual
S-25
May
June
July
Aug.
1984
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
METALS AND MANUFACTURES—Continued
Steel, Raw and Semifinished
Steel (raw):
'74 577
Production
thous sh. tons
Rate of capability utilization
percent
484
Steel castings:
Orders, unfilled, for sale, end of period
thous. sh. tons..
161
1017
Shipments total
do
For sale, total
do ...
916
Steel Mill Products
Steel products, net shipments:
Total (all grades)
thous sh tons
59783
By product:
Semifinished products
do....
3,408
Structural shapes (heavy), steel piling
do....
3,424
Plates
do....
4,136
Rails and accessories
do
782
9440
Bars and tool steel total
do
'4,857
Bars: Hot rolled (incl. light shapes)
do....
Bars* Reinforcing
do
3526
Bars: Cold finished
do. ..
1013
Pipe and tubing
do....
5,026
Wire and wire products
do
1332
Tin mill products
do
4,321
Sheets and strip (incl. electrical), total
do....
27,914
Sheets' Hot rolled
do
9052
Sheets: Cold rolled
do....
11,132
By market (quarterly):
Service centers and distributors
do
'12 972
Construction, incl. maintenance
do....
6,260
Contractors' products
do
2290
Automotive
do....
'9,295
Rail transportation
do....
1,030
Machinery industrial equip., tools
do
2582
Containers, packaging, ship, materials
do....
4,471
Other
do
'20,883
Steel mill shapes and forms, inventories, end of
period—total for the specified sectors:
mil. sh. tons..
22.4
Producing mills, inventory, end of period:
Steel in process
mil. sh. tons..
8.1
53
Finished steel
do
Siervice centers (warehouses), inventory, end of
period
mil. sh. tons..
4.7
Consumers (manufacturers only):
Inventory, end of period
do....
4.3
Receipts during period
. do
534
Consumption during period
do....
54.7
NONFERROUS METALS AND PRODUCTS
Aluminum:
Production, primary (dom. and foreign ores)
thous. met. tons3,274
'1,666
Recovery from scrap t
do....
Imports (general):
Metal and alloys, crude
do
'6163
Plates, sheets, bars, etc
do....
'176.4
Exports:
Metal and alloys, crude
do....
'364,0
Plates sheets bars etc
do
'1896
Price, primary ingot, 99.5% minimum .... $ per lb..
0.7600
Aluminum products:
Shipments:
Ingot and mill prod, (net ship.)
mil lb..
12,128
Mill products total
do
9116
Sheet and plate
do....
5,329
Castings
do....
1,306
Inventories, total (ingot, mill products, and
scrap), end of period
mil. lb
6200
Copper:
Production:
Mine, recoverable copper
thous. met. tons- 1,139.6
'1 227.1
Refinery, primary
do
From domestic ores
do
10648
From foreign ores
do.,..
'162.2
Secondary, recovered
as refined
do....
570.2
Imports (general):
Refined, unrefined,
scrap (copper cont.)
do.. .
'518.7
'2598
Refined
do
Exports:
Refined and scrap
do
381 1
35.0
Refined
do....
Consumption, refined
1,790
(by mills, etc.)
thous. sh. tons..
Stocks refined end of period .
do
668
Price, electrolytic (wirebars), dom., delivered
$ per lb..
0.7431
See footnotes at end of tables.
83379
554
7292
589
7412
579
6993
565
6921
543
7020
551
7 134
578
7692
602
7263
587
6991
547
142
727
667
152
57
50
157
63
57
159
62
57
156
52
48
145
60
56
143
62
58
144
67
65
142
T
69
64
142
67
61
'67 454
5399
5612
5986
5045
5789
5893
6078
6014
6269
3,899
'3,448
3,832
883
'11 666
'6,285
'4138
1 197
3242
1384
4308
34,792
11619
13,781
298
240
305
78
892
446
350
92
252
124
369
2,841
958
1,126
327
271
304
70
980
526
355
96
262
122
372
2,905
982
1 145
360
307
326
70
996
522
371
100
273
130
379
3 144
1086
1222
296
256
280
67
828
402
340
83
240
111
328
2,640
881
1003
307
268
320
82
1047
563
381
99
273
115
371
3,005
1001
1 181
378
326
338
86
1016
571
337
104
290
119
351
2989
984
1 166
365
306
362
74
1 146
623
405
114
305
119
325
3075
1051
1 192
358
338
366
83
1018
569
331
113
309
109
313
3120
1061
1239
374
320
381
87
1009
578
320
106
303
99
402
3294
1049
1366
'15713
6,276
2587
12087
918
2320
4532
'23,011
3915
1644
659
3024
245
594
1 183
5732
8142
760
9056
791
71
67
67
78
5980
6150
7239
5399
349
343
352
108
1010
585
299
121
303
116
322
3077
1076
1 155
402
335
378
120
1027
620
276
125
321
115
307
3 147
1 127
1217
463
408
421
122
1 297
'697
445
147
366
129
345
3689
1316
l'394
389
319
402
111
1 089
'616
337
131
354
109
334
3364
1208
1275
7970
692
r
70
84
r
4384
1643
660
3598
258
638
1 105
6092
3878
1613
628
3004
240
558
1 136
5671
4850
1553
663
3223
311
728
1049
C
6993
23.4
22.3
23.3
23.2
23.8
24.2
24.0
24.5
24.2
23.4
23.9
24.8
24.8
7.1
57
7.8
54
80
56
78
55
80
57
80
58
79
58
82
60
76
62
71
57
71
58
72
61
72
60
8997
808
2
1608
2
548
2
202
1 112
105
263
369
2265
5.7
4.7
5.1
5.1
5.3
5.4
5.4
5.5
5.6
5.7
5.8
6.0
6.2
4.9
466
45.9
4.4
47
4.4
4.6
46
44
47
45
44
48
38
37
5.0
43
41
49
4i
42
48
38
39
48
37
37
49
35
34
52
41
38
55
44
41
54
39
40
3,353
1,690
245
140
265
139
261
144
284
131
297
142
299
143
320
151
318
151
340
148
342
135
324
141
7149
209.7
669
19.8
846
228
829
196
72 1
215
657
207
566
202
582
277
636
222
40 3
223
709
333
94 9
413
3607
1666
0.7770
46.4
144
0.7600
82
12 3
0.7600
149
12 7
0.7600
37 1
122
0.7600
332
132
0.7600
415
14 4
0.7898
274
15 0
0.8100
508
143
0.8100
24 1
14 8
0.8100
245
202
0.8100
201
21 5
0.8100
13,856
10600
6,355
1,496
1,084
865
503
117
1,235
1 003
622
133
1193
924
573
136
1 100
878
552
104
1263
890
522
123
1264
875
518
128
1 154
881
510
134
1 174
877
519
140
1291
938
593
129
1 186
928
548
1340
934
549
5009
5744
5579
5439
5472
5375
5258
5296
5208
5009
5 176
5 237
1,045.7
1 1824
10037
178.8
85.3
1076
888
18.7
92.8
109 1
912
17.8
90.4
1162
100 1
16.1
76.9
800
716
8.4
80.0
837
749
8.9
87.3
883
74 g
137
90.3
939
796
142
94.4
960
802
158
89.7
947
81 8
129
91.4
953
84 1
112
86.3
999
893
106
714.7
4864
94.7
716
739
450
744
540
682
508
760
496
416
281
476
30 7
403
300
393
21 6
737
56 1
460
31 8
655
51 0
729
603
2772
875
230
2.0
214
3.2
213
29
309
181
356
13.4
137
41
280
142
103
28
254
112
395
175
359
144
305
89
325
68
0.7926
0.8349
0.8563
0.8184
0.8295
0.8054
0.7759
0.7239
0.6958
0.7080
0.6879
0.7075
0.7531
1143
497
9174
798
688
381
199
76
21 8
159
0.8100 0.8100
0.8100
S-26
SURVEY OF CURRENT BUSINESS
Unless otherwise stated in footnotes below, data
through 1982 and methodological notes are as
shown in BUSINESS STATISTICS: 1982
1982
1983
1983
Apr.
Annual
June 1984
May
June
July
Aug.
1984
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
METALS AND MANUFACTURES—Continued
NONFERROUS METALS AND
PRODUCTS—Continued
Copper-base mill and foundry products, shipments
(quarterly total):
Brass mill products
mil Ib
Copper wire mill products (copper cont.)
do....
Brass and bronze foundry products
do
Lead:
Production:
Mine recoverable lead
thous met tons
Recovered from scrap Qead cont )
do
P°
vg
/>
^
•>
do"
'
2014
2,393
405
5124
*5713
501
10754
Stocks, end of period:
Producers', ore, base bullion, and in process
(lead content) ABMS
thous met tons
750
Refiners' (primary), refined and antimonial
735
(lead content)
thous met tons
972
Consumers' (lead content) 0
do
Scrap (lead-base, purchased), all smelters
335
(gross weight)
thous met tons
02554
Price common grade delivered
$ per Ib
Tin:
Imports (for consumption):
1931
Ore (tin content)
metric tons
27,939
Metal unwrought unalloyed -do
12544
Recovery from scrap total (tin cont )
do
1067
As metal
do
53,450
Consumption total
do
38700
Primary
do
*9357
Exports incl reexports (metal)
do
3152
Stocks pig (industrial) end of period
do
65392
Price Straits quality (delivered)
$ per Ib
Zinc:
'3003
Mine prod recoverable zinc
thous met tons
Imports (general):
49.3
Ores (zinc content)
do
Msei
Metal (slab blocks)
do
Consumption (recoverable zinc content):
53.1
Ores
do
2081
Scrap all types
do
Slab zinc: @
1
302.5
Production total $
thous met tons
*7095
Consumption fabricators
do
03
Exports
do
Stocks, end of period:
28.2
Producers', at smelter (ABMS)
do....
77.6
Consumers'
do....
03847
Price Prime Western
$ per Ib
MACHINERY AND EQUIPMENT
Heating, combustion, atmosphere equipment, new
*2969
orders (domestic) net qtrly $
mil $
Electric processing heating equipment
do
65.4
Fuel-fired processing heating equip
do
1282
Material handling equipment (industrial):
Orders (new) index seas, adj
1967—100
249.2
Industrial supplies, machinery and equipment:
946
New orders index seas adjusted
1977 — 100
Industrial suppliers distribution:
120.9
Sales index seas adjusted
1977 — 100
Inflation index, not seas. adj. (tools, material
handling equip., valves, fittings, abrasives,
1531
fasteners metal products etc )
1977 — 100
Fluid power products shipments indexes:
208
Hydraulic products, seas. adj.
1972=100..
202
Pneumatic products, seas, adj
do....
Machine tools:
Metal cutting type tools:
Orders, new (net), total
mil. $.. 1,064.45
889.60
Domestic
do
2 894 75
Shipments total
do
2 598 60
Domestic
.
do
Order backlog, end of period
do.... 1,043.0
Metal forming type tools:
433.30
Orders, new (net), total
do....
371.75
Domestic
do....
70965
Shipments total
do
599.75
Domestic
do
Order backlog, end of period
do....
150.6
See footnotes at end of tables.
4476
5041
588
10807
366
413
63
831
357
425
65
819
283
373
42
906
351
372
35
798
431
39.6
60
946
372
43.4
21
1042
370
489
64
1023
382
48.4
52
953
348
45.7
61
1079
416
444
128
1127
779
51
81
66
82.9
89.8
856
747
3,344
75
5375
5,400
4200
141
2840
63665
375
2.5
601
2.2
658
745
590
595
645
654
685
715
691
66.7
745
582
717
835
775
937
725
894
865
865
729
75.5
625
59.3
662
563
689
51.9
703
58.2
717
328
02168
236
02117
200
02022
21 3
01941
252
01932
274
01946
248
02169
303
02538
323
02515
328
02446
02512
969
34048
11579
2243
55800
40400
3552
3020
65478
45
3578
1008
197
4700
3500
221
4026
68759
3
2845
954
171
4,700
3500
235
3527
66710
51
2778
1 118
207
4,800
3500
311
3634
66707
122
2056
986
188
4,300
3100
298
3931
65968
2,757
1055
242
4,600
3400
375
4091
6.4838
45
3,325
1 130
200
4,700
3400
226
3604
6.4510
71
3,671
830
181
4,800
3500
298
3074
6.4683
207
2,147
892
224
4,400
3200
260
3180
6.4902
169
3,225
835
227
4,800
3100
280
3020
6.3080
70
3,556
856
157
4,600
3400
278
2970
62374
60
4,661
846
156
4,300
3200
446
2268
6.2788
2737
229
223
210
200
239
229
238
217
216
232
250
'62.2
6133
24
512
6.6
604
5.6
540
142
430
7.1
507
1.1
604
2.7
640
4.1
666
10.0
592
1.4
672
3.5
714
52.9
1902
51
146
4.9
144
4.4
135
44
134
3.3
169
2.0
167
3.4
174
6.0
181
5.7
174
5.8
172
5.3
16.8
224
667
23.5
64 1
01
160
558
23.2
645
0.1
22.7
672
()
23.2
694
22.1
707
0.1
13.6
71.5
0.4056
9.6
74.9
04298
261.8
7753
04
16.7
71.5
04139
(2)
17.9
73.4
03800
19.2
75.6
03811
*2745
878
*773
2757
21.8
657
(2)
20.4
70.9
03946
(2)
20.1
68.1
04001
248.9
2836
24.1
655
(2)
14.5
73.2
0.4611
24.7
701
(2)
16.1
71.8
0.4755
688
20.5
168
605
192
100
2469
2
21.8
637
(2)
16.7
73.9
04874
(2)
14.4
r
80.3
04922
15.8
82.1
0.5061
r
21.6
25.0
15.0
25.8
20.0
745
23.7
238
3443
249.3
271.9
355.6
359.2
335.2
321.5
284.9
979
882
916
1004
1031
1041
1050
1066
1091
1126
1196
1213
1132
116 1
1135
112.0
1116
1122
121.0
121.6
119.0
121.0
1194
1277
1321
1317
1322
1550
1551
1551
1553
1551
154.5
1548
1549
1555
1563
1565
1570
1571
1581
201
208
180
185
192
194
197
198
197
193
208
207
223
235
229
231
237
248
239
244
245
260
259
263
'263
248
260
253
1,151.65
79.25
1 069.45
73.65
1 371 50 11295
1 199 60 10055
823.2
862.8
93.60
88.20
9880
8860
857.6
96.45
88.45
14575
11905
808.3
128.75
12465
7540
6190
861.6
91.00
82.65
8285
7275
869.8
102.45
98.60
9410
8550
878.2
129.45
11560
10205
9315
905.6
115.35
107.65
10725
9615
913.6
91.25
8415
18175
15215
823.2
133.20
12250
7255
6535
883.8
133.05
12170
10305
9530
913.8
41.70
37.90
3705
35.05
130.6
48.80
41.10
3725
3310
142.2
46.35
4200
3695
3195
151.6
46.25
42.00
3015
28.90
167.6
53.35
4955
3760
3315
183.4
73.10
4085
4335
4085
213.2
44.90
4085
4045
3710
217.6
60.00
4830
5605
5435
221.6
55.90
5305
4040
3555
237.0
69.85
6600
4425
4040
202.6
39.30
37.40
3785
3500
126.0
25.3
05107
113.9
544.50
488.75
47355
43045
221.6
24.7
(2)
1349
146.50 '179.80 "192.05
13190 P135 70 P170 40
12250 101
60 "147 30
11235 r r9270 "139 55
937.8 1,016.1 '1,060.8
61.95
5675
6675
6000
257.8
73.30 "128.10
85
6590 121
57 25 PP58 40
5120
5230
273.9 "343.6
Unless otherwise stated in footnotes below, data
through 1982 and methodological notes are as
shown in BUSINESS STATISTICS: 1982
S-27
SURVEY OF CURRENT BUSINESS
June 1984
1982
1983
Annual
1984
1983
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
METALS AND MANUFACTURES—Continued
MACHINERY AND
EQUIPMENT-Continued
Tractors used in construction, shipments, qtrly:
Tracklaying, total
units..
mil $
Wheel (contractors' off-highway)
units..
mil $
Tractor shovel loaders (integral units only),
wheel and tracklaying types
units
mil $..
Tractors, wheel, farm, nonfarm (ex. garden and
construction types), ship., qtrly
units
mil. $..
ELECTRICAL EQUIPMENT
Batteries (auto.-type replacement), ship . .
thous
Radio sets, production, total market
thous
Television sets (incl. combination models),
production, total market
thous
Household major appliances (electrical), factory
shipments (domestic and export) #
thous..
Air conditioners (room)
do
Dishwashers
do....
Disposers (food waste)
do
Microwave ovens/ranges *
do
Ranges
do
Refrigerators
do
Freezers
do....
Washers
do
Dryers (incl. gas)
do
Vacuum cleaners (qtrly.)
do....
GAS EQUIPMENT (RESIDENTIAL)
Furnaces, gravity and forced-air, shipments ....thous..
Ranges total sales
do
Water heaters (storage), automatic, sales
do....
7,053
793.5
2,443
222.2
(!)
1,678
1581
(l)
784
693
727
665
284
317
556
488
475
339
797
712
515
499
C)
24134
1030.3
95,943
3,131.1
6626
221.9
8673
314.5
54214
31782
56105
36454
3509
2266
3720
2636
16405
19680
1282
1313
26,683
2761
2170
2780
4071
2035
4364
1340
4,019
2728
7,536
32,386
2002
3,093
3527
6114
2752
5316
1,288
4,616
3294
7,942
2,508
259
214
312
398
201
362
111
352
236
1,156
1368
3,041
1,662
1573
3,172
112
127
301
5412
214.8
5738
142.8
4032
2638
3914
3095
5100
3315
1938
1517
1610
2,597
300
259
249
492
252
463
112
416
282
2,897
265
276
298
431
248
520
136
399
264
1,799
2,672
306
196
280
461
197
505
141
322
206
101
129
259
108
154
265
113
104
238
2
13838
391.6
12994
391.4
9554
295.3
6373
3218
6548
4441
6105
4249
2303
2050
1731
3,081
108
340
316
544
269
580
128
470
317
2,978
58
291
322
636
250
556
113
438
309
2,214
3,046
32
311
360
771
265
494
85
412
323
146
128
248
176
156
239
197
136
280
2
2
r
709
T
562
583
464
8295 11 923
261.7 '365.3
12,540
406.1
742
758
664
622
522
441
7524
360.5
0
8489
307.7
2
728
742
(*)
(»)
80785
2,491.6
717
649
10,052
312.1
6295
3510
r
6499
3423
4273
2838
1925
1679
1632
2820
52
302
393
648
254
410
72
377
313
2,535
98
245
264
772
211
321
77
292
250
1,848
3273
168
308
340
738
260
494
103
479
366
167
134
253
173
149
269
'414
93
612.0
'361
66
612.3
2
2
3984
3421
2
2
3370
3549
2 133
1668
3023
262
242
355
587
237
426
95
427
331
3387
504
258
368
615
260
509
89
420
287
2,277
3170
'459
258
348
612
237
484
90
364
250
146
132
319
142
133
315
127
154
308
116
136
337
339
9
612.2
370
5
612.2
409
3
611.3
358
55
610.0
'70,437 '71,956 '69,833 '61,896 67,875 74,189 80,993
'63,085 60,198 61,150 70,235
54,127 50,598 51,099 59,030 60,126 52,182 54,465
'8,319
9,341 10,296
8,929
3,194
3,332
3,458
3,304
710
909
671
'639
'167,240 172,589 172,676 162,070
'154,948 160,068 '159,927 149,091 142,223 148,301 152,378
'12,292 12,521 12,749 12,979
4,337
'3,831
4,168
4,000
7,393
5,726
6,194
7,978
5,053
4,243
5,809
540.7 '538.1
534.6
539.1
534.9
542.9
540.2
71,152
1 659
PETROLEUM, COAL, AND PRODUCTS
COAL
Anthracite:
Production t
' thous. sh. tons.
Exports. ..
do
Producer Price Index
1967—100.
Bituminous:
Production "f"
thous sh tons
Consumption, total t
do
Electric power utilities
do....
Industrial total
do
Coke plants (oven and beehive)
do....
Residential and commercial
do....
Stocks, end of period, total t
do....
Electric power utilities
do....
Industrial, total
do....
Oven-coke plants
do
Exports
do
Producer Price Index
1967—100..
COKE
Production:
Beehive and oven (byproduct)
thous. sh. tonsPetroleum coke §
do....
Stocks, end of period:
Oven-coke plants, total
do....
At furnace plants
do
At merchant plants
do....
Petroleum coke
do.
Exports
do
PETROLEUM AND PRODUCTS
Crude petroleum:
Oil wells completed
number..
Producer Price 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 0
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....
Product demand, total
do....
Exports:
Crude petroleum
do....
Refined products
do
See footnotes at end of tables.
4,588
980
640.3
'4,113
776
'617.1
'287
28
621.7
'295
66
603.1
'354
38
605.1
311
79
613.3
402
115
610.4
833,523
703,561
592,591
104,372
40,859
6,598
189,085
175,053
14,032
4,625
105,244
530.4
'780,752
733,850
624,175
102,586
37,005
7,090
162,070
149,091
12,979
4,337
76,870
'533.8
'61,267
'52,555
43,497
'8,423
3,204
'635
187,208
175,251
11,957
4,080
6,077
534.3
'62,944
'54,107
45,586
'8,139
3,149
'382
190,767
178,422
12,345
4,442
6,877
532.0
'62,231
'58,049
'50,250
'7,498
2,732
'301
'190,738
178,006
'12,732
4,805
7,231
530.8
'55,029
'69,266
60,301
'8,456
3,267
509
'174,857
'162,267
12,590
4,481
6,043
531.3
'73,110
'72,736
'63,675
'8,580
3,250
'481
'168,620
'156,177
12,443
4,156
8,251
533.2
28,115
29,908
25,808
30,615
2,284
2,611
6,451
2,580
2,649
2,735
6,753
2,577
8,190
7,858
331
1,344
1,109
3,518
3,233
286
1,096
731
1,324
99
1,390
72
4,569
4,220
348
1,230
41
963
72
891
32
3,875
3,577
298
966
45
40,300
733.4
37,159
'681.4
3,031
678.0
3,186
678.0
3,514
677.9
2,683
675.7
2,641
675.1
4,442.6
70
4,348.3
72
349.9
69
373.9
72
378.2
75
390.5
75
5,608.2
5,570.0
449.2
469.0
464.4
3,156.7
585.1
3,159.4
589.9
260.6
46.3
269.2
48.0
260.3
47.6
1,352.4
514.0
-53.7
5,880.4
1,303.3
517.5
23.2
5,812.0
102.7
39.6
0.2
467.6
108.4
43.4
21.4
468.0
86.3
211.2
59.9
209.9
2.6
21.6
8.7
17.6
387
117
610.4
'416
139
610.4
7,633
539.8 ""543.8
2,743
7,025
2,677
2,713
2,598
2,797
1,110
49
1,101
47
3,518
3,233
286
1,096
119
1,127
55
1,265
23
1,136
61
66
3,733
675.7
2,970
675.7
3,237
675.6
3,470
674.4
3,253
'675.6
3,212
676.0
4,092
676.0
2,821
674.3
382.0
74
373.7
76
371.2
73
368.5
75
353.6
70
365.8
73
356.0
76
374.7
75
493.7
505.1
492.3
482.8
464.3
470.4
484.5
465.5
483.6
268.0
49.3
268.2
49.7
260.0
49.7
268.3
51.6
258.7
50.6
267.0
48.9
268.4
50.3
253.0
48.8
270.3
50.7
114.8
41.7
12.1
481.6
128.3
48.1
24.9
480.0
138.2
49.0
33.2
496.9
136.5
46.1
24.8
482.4
115.1
47.9
19.7
481.2
108.6
46.5
-1.6
486.4
109.5
45.1
-57.2
537.2
103.8
62.0
-23.1
536.3
93.7
69.9
33.9
463.1
114.8
47.8
-19.9
522.4
4.3
18.9
4.5
13.2
5.3
15.2
5.3
15.2
4.3
13.5
5.6
14.8
2.9
16.9
4.7
13.1
5.4
11.4
7.3
18.6
2,610
611.1
674.3
S-28
SURVEY OF CURRENT BUSINESS
Unless otherwise stated in footnotes below, data
through 1982 and methodological notes are as
shown in BUSINESS STATISTICS: 1982
1982
1983
1984
1983
Apr.
Annual
June 1984
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
PETROLEUM, COAL, AND PRODUCTS—Continued
PETROLEUM AND PRODUCTS—Continued
All oils, supply, demand, and stocks—Continued
Domestic product demand, total #
mil. bbl..
Gasoline
do
Kerosene .
. ..
do....
do....
do
do....
5,582.9
23961
470
974.9
6265
3696
do....
do
do
510
1244
5473
Stocks end of period total
do
Crude petroleum
do
Strategic petroleum reserve
do
Unfinished oils, natural gasoline, etc . -... . do....
Refined products
do
14299
6436
2938
158.1
6283
4434
518.5
446.3
496.5
5 542.1
441.8
4584
4763
4619
466.0
517.4
4623
4634
2129
1947
1815
24248
1958
2035
2018
1996
2023
211 1
2110
2162
2049
7.1
46
6.5
3.2
3.9
464
39
29
23
26
30
29
34
104.1
108.2
82.4
100.9
9790
814
72.6
758
765
770
86.4
697
808
487
614
465
508
406
407
5122
409
395
405
422
397
380
37.0
32.3
34.1
312
300
36.5
3804
316
32 1
32 1
334
322
312
4.1
5.1
5.2
47
41
3.8
519
42
46
44
49
52
46
2
42
45
62
128
105
43
1362
78
172
177
203
177
144
63.3
61.8
49.5
490
339
494
5377
370
35 1
398
380
437
461
1453 1 13757 1397 1 14093 14342 14674 14921 15119 15103 1 453.1 1 430.0 1 463.9 1,444.0
7223
7329
7275
7275
7069
7128
7223
6836
681 4
6863
682 7
7126
718 2
3872
3918
3791
3844
379 1
3177
3268
3325
3407
3610
3672
3713
3518
164.7
159.9
159.2
1646
1701
1701
166.2
161.0
1610
1664
1654
1640
1718
5257
551 1
5904
5699
5373
5773
5518
5699
5575
5876
6094
6218
6313
23221
1968
23203
1878
Distillate fuel oil
Residual fuel oil
Jet fuel
Lubricants
Asphalt
Liquefied gases
.
Refined petroleum products:
Gasoline (incl. aviation):
Production
Stocks, end of period ....
do
do .
Prices (excl. aviation):
Producer Price Index, regular
2/73=100..
Retail, reg. grade, U.S. city average (BLS): *
Leaded
$ per gal..
Unleaded
do
Aviation gasoline:
Production
mil bbl
Stocks, end of period
do....
Kerosene:
Production
do
Stocks, end of period
do....
Producer Price Index (light
distillate)
1967 — 100..
Distillate fuel oil:
Production
mil. bbl..
Imports
do
Stocks, end of period
do
Producer Price Index (middle
distillate)
1967 = 100..
Residual fuel oil:
Production
mil. bbl..
Imports
.
do .
Stocks, end of period
do....
Producer Price Index
1967 = 100..
Jet fuel:
Production
Stocks, end of period
Lubricants:
Production
Stocks, end of period
Asphalt:
Production
Stocks, end of period
Liquefied gases (incl. ethane and ethylene):
Production, total
At gas processing plants (L P G ) ....
At refineries (L.R.G.)
Stocks (at plants and refineries)
1987
1893
2003
1858
2088
1942
2038
1874
1984
1922
1927
1903
1998
1984
1963
1878
1877
1880
184 1
1993
1982
2055
551.7
515.3
537.2
559.5
566.6
571.2
566.3
559.2
548.2
535.8
'518.3
513.6
519.1
521.7
1 157
1 241
1.131
1215
1 177
1259
1 197
1277
1207
1288
1203
1285
1 189
1274
1 172
1255
1156
1 241
1.146
1231
1.131
1216
1.125
1209
1.125
1210
1.145
1227
r
612.5
1.222
1296
89
23
91
23
07
24
07
24
09
25
09
24
10
26
10
25
08
24
07
2.4
05
2.3
06
2.4
09
2.6
05
2.7
420
10.4
402
7.9
27
83
27
8.2
22
80
25
85
26
83
35
9.2
43
102
39
10.2
41
7.9
56
7.5
44
9.3
25
7.8
906.1
9084
897.1
8943
8828
8807
8804
8893
885.5
881.4
872.2
884.9
902.3
8955
616
1404
651
22
1032
758
44
1092
764
53
1138
806
80
1310
810
93
1435
817
76
1547
83 1
79
1633
804
57
1613
78.2
66
1404
80.1
84
1195
831
133
1322
769
36
1096
889.8
813.4
838.1
879.4
876.3
883.0
894.3
912.2
901.8
892.1
871.4
923.6
951.3
390.4
283 1
66.2
1,182.0
308.9
2516
49.1
'1,058.9
28.2
223
46.6
1,015.7
28.8
220
50.9
987.7
357.0
36.8
372.3
386
29.4
402
31.2
413
31.3
413
31.9
417
31.4
402
32.8
418
31.2
434
32.3
459
29.1
386
32.5
35.6
32.7
390
34.2
406
do
do
516
125
536
121
42
127
45
12 1
44
117
46
116
47
114
47
110
49
106
52
115
45
12 1
43
123
46
117
49
112
do
do
1194
159
1356
2
188
107
273
123
270
149
25 1
15 1
229
16 2
192
15 1
17 1
133
164
99
158
74
188
64
21 1
70
236
78
252
do....
do
do....
do
557.5
4590
98.5
940
584.8
4663
118.5
1006
45.9
362
97
860
47.9
379
100
96 1
47.8
370
108
106 1
48.7
376
11 1
1125
467
36 1
106
1182
48.7
378
109
1189
52.3
417
107
1207
53.5
432
104
1184
51.0
418
92
1006
49.9
400
9.9
932
49.0
389
10.1
889
52.2
405
118
886
r
996.4
9513
340
1786
r
1,012.7
mil. bbl..
do....
.
1867
1853
2
24.9
23.9
203
212
50.1
51.9
1,034.2 1,052.4
219
24.4
24.8
219
207
196
49.7
483
51.4
1,081.6 1,102.1 1,120.0
r
r
874.1
8761
874.1
881.2
29.5
25.5
27.7
29.1
27.5
329
200
32 1
196
233
49.1
45.4
57.6
54.5
47.6
1,125.5 1,109.6 '1,091.0 1,093.1 1,116.1 1,110.3 1,142.9
PULP, PAPER, AND PAPER PRODUCTS
PULPWOOD f
Receipts
thous cords (128 cu ft )
Consumption
do....
Inventories, end of period
do
WASTE PAPER f
Consumption
thous sh tons
Inventories end of period
do
*78 519
^9,039
5426
X
84 475
'85,442
5229
6770
7,162
4779
6943
7025
4677
7 154
7 188
4763
6 821
6*801
4952
7 445
7395
5 177
7 286
7203
5051
7 691
7534
5430
7 172
7267
5266
6691
6741
5229
7 044
7185
5 168
7434
7295
5 192
7 689
7*660
5 157
1
*14 539
1 164
1221
1205
1 128
1 205
1 202
1 337
1 275
1 157
1 292
1 276
1 389
52 537
1,261
'42,358
5,067
3851
4,308
95
3,505
393
314
4517
133
3,624
432
329
4405
123
3,533
413
335
4 156
72
3,374
401
309
4483
99
3,624
432
328
4422
91
3,586
427
318
4685
113
3,777
449
347
4597
117
3704
443
334
4 124
4513
'170
'384
198
429
518
346
78
267
301
11
289
208
434
528
312
40
272
378
23
355
201
425
515
324
50
274
357
12
345
209
452
499
289
31
258
327
20
307
212
468
492
289
60
229
350
9
341
193
420
466
328
30
298
332
11
321
186
449
476
314
77
238
431
15
416
192
484
499
252
61
191
362
7
355
'170
'384
13 565
1022
920
828
812
856
854
853
876
864
864
920
908
896
896
WOODPULP f
Production:
Total
thous. sh. tonsDissolving pulp
do....
Paper grades chemical pulp
do....
Groundwood and thermo-mechanical
do....
Semi-chemical
do
Inventories, end of period:
At pulp mills:
Own use woodpulp
do....
Market pulp
.
do
Market pulp at paper and board mills
do....
Exports, all grades, total . . .
Dissolving and special alpha
All other
Imports, all grades, total
Dissolving and special alpha
All other
See footnotes at end of tables.
. ...
do....
do....
do. .
do....
do....
do....
M9,334
1,092
39,478
5,064
3699
177
437
429
'3395
631
'2763
X
3894
162
1
3,732
rl
522
'3674
646
X
3027
M093
179
1
3,914
533.9
106
3,297
419
303
522
384
72
312
345
20
325
98
3,601
463
352
151
394
564
360
52
208
337
14
323
'4539
106
'3,651
454
'328
4858
106
3921
466
365
'142
154
323
604
374
74
300
341
19
322
351
'546
317
38
279
420
11
409
249
53
196
338
6
331
S-29
SURVEY OF CURRENT BUSINESS
June 1984
Unless otherwise stated in footnotes below, data
through 1982 and methodological notes are as
shown in BUSINESS STATISTICS: 1982
1982
Apr.
Annual
1984
1983
1983
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
PULP, PAPER, AND PAPER PRODUCTS—Continued
PAPER AND PAPER PRODUCTS f
Paper and board:
Production (API):
Total
Paper
Paperboard
.
thous. sh. tons.
do...,
do...
'59,488
30,422
29,065
"65,113
r
32,936
r
32,177
5,274
2,609
2,609
5,554
2,786
2,786
5,381
2,722
2,658
5,117
2,553
2,563
5,675
2,930
2,745
5,501
2,764
2,737
5,832
2,935
2,897
5,642
2,863
2,778
5,169
2,706
2,463
r
5,680
r
2,886
'2,795
'5,661
'2,852
'2,810
'6,082
'3,053
'3,029
5,763
2,875
2,888
1967 = 100..
do....
254.9
239.5
250.1
250.0
248.1
247.0
248.7
249.3
249.6
249.4
249.7
256.2
250.1
252.1
254.0
252.8
255.5
254.7
259.4
254.7
260.9
250.4
262.2
251.9
269.3
253.9
273.6
258.9
275.4
264.1
1,581
159
1,530
122
101
127
126
94
129
131
99
128
135
114
118
163
145
129
131
153
132
152
164
142
124
153
137
122
156
121
'143
'157
'135
'149
'179
'129
'140
'182
'140
133
193
127
'5,896
'546
r
5,696
332
447
509
398
468
543
457
481
524
453
556
528
536
451
492
485
523
496
535
463
447
513
545
551
496
'496
'520
'508
'527
'540
'512
'549
'555
'531
510
564
507
'9,066
"9,085
743
759
751
762
744
762
755
676
782
786
720
748
741
794
757
773
735
750
'739
'805
'725
'788
'819
'845
687
773
327
Producer price indexes:
Paperboard
Building paper and board
Selected types of paper (API):
Groundwood paper, uncoated:
Orders, new
Orders, unfilled, end of period
Shipments
thous. sh. tons..
do....
do....
Coated paper:
Orders, new
Orders, unfilled, end of period
Shipments
do..,
do...
do...
Uncoated free sheet papers:
Orders, new
Shipments
do...
do...
1
1,469
91
'1,459
rl
11
'4,998
325
5,032
r
'7,820
8,170
r
rl
Unbleached kraft packaging and industrial
converting papers:
Shipments
thous. sh. tons.
'3,688
'3,792
291
304
312
287
349
Tissue paper, production
'4,438
'4,790
397
410
392
385
419
8,109
8,054
256
8,486
8,439
303
710
374
724
683
415
719
796
699
679
359
726
696
388
4,574
4,525
86
10,107
4,688
4,675
99
10,579
364
362
161
404
156
372
395
133
378
395
116
419
418
117
879
919
858
816
854
790
780
746
826
6,531
6,919
538
599
659
538
315.8
302.9
299.1
299.1
299.1
235,185
252,876
'20,491
20,777
22,044
do...
Newsprint:
Canada:
Production
thous. metric tons.
Shipments 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 0
do...
Stocks at and in transit to publishers, end of
period
thous. metric tons.
Imports
thous. sh. tons.
Price, rolls, contract, f.o.b. mill, freight allowed
or delivered
Index, 1967=100.
Paper products:
Shipping containers, corrugated and solid fiber
shipments
mil. sq. ft. surf. area.
329
301
322
322
352
334
414
408
390
407
395
426
405
707
738
358
750
764
344
774
766
352
673
723
303
757
699
361
622
646
337
666
674
329
737
701
365
377
378
116
406
407
116
414
412
117
372
390
417
415
103
410
412
102
434
454
82
422
439
65
847
885
1,001
954
847
'880
'946
977
849
812
785
750
790
785
808
'778
766
584
543
634
633
593
663
621
591
573
295.0
305.8
310.4
309.6
309.6
309.6
309.6
309.6
316.0
316.0
19,582
22,649
22,317
23,476
21,043
19,874
22,070
21,983
23,650
21,960
6967
7587
4957
9075
5471
7376
95 19
8784
0573
5678
9568
8318
8747
7545
0580
69 18
0568
276.9
265.2
314.8
RUBBER AND RUBBER PRODUCTS
RUBBER
Natural rubber:
Consumption •
Stocks end of period ...
thous metric tons
do
5531
9377
6211
0578
5686
10001
6344
0568
6704
9786
6520
1 828 95 1 978 28 16046
1 757 30 1 860 79 14632
283.80 283.84
255.94
284.62
275.01
24.91
171 13
14622
66061
9542
thous Ig tons
61827
Price, wholesale, smoked sheets (NY)
$ per Ib
Synthetic rubber:
Production
thous metric tons
Consumption ....
do
0.453
Imports incl. latex and guayule.
Stocks, end of period
Exports (Bu. of Census)
TIRES AND TUBES
Pneumatic casings, automotive:
Production
Shipments, total
Original equipment
Replacement equipment
Exports
Stocks, end of period
Exports (Bu. of Census).
Inner tubes, automotive:
Exports (Bu. of Census)
See footnotes at end of tables.
do.
thous. Ig. tons
676 27
8075
64207
2
0560
29434
3166
7529
7483
3190
0593
5021
8329
4422
0605
15464
13585
304.77
15050
17452
276.24
163 16
17439
262.34
2437
20.15
21.08
16440
20117
3931
15,686
3922
9069
0545
4879
9918
5041
0583
16450
15668
29082
thous '178 500
do
201,236
do
38633
do. . 158,688
3915
do
39,955
do.
5,971
do....
186 923
218 865
49364
164,265
5236
33,340
4,656
16325
17782
4 143
13,185
454
51921
392
15653
18907
4286
14202
419
42395
436
15473
20431
4461
15586
384
39622
306
12570
17879
3240
14,354
285
36,989
270
500
35541
360
1,924
1,829
134
138
193
100
147
do....
6783
7106
0605
0583
19373
16214
28272
2375
16329
15021
283.79
23.67
18329
17754
17302
17536
284.08
27718
19026
18045
27695
22.01
17796
18453
25612
20 14
24.12
2222
2809
2913
16360
21246
5003
15,717
526
32854
447
16734
20532
4870
15153
509
31530
391
15 136
17527
4625
12458
444
31676
485
15483
16077
4608
10890
579
33340
484
16749
18509
4755
13 118
636
35450
458
17498
17971
5 109
12253
609
37615
427
19 121
21640
5728
15191
721
38529
544
539
169
240
126
177
97
137
187
85
5782
0583
0518
S-30
SURVEY OF CURRENT BUSINESS
1982
Unless otherwise stated in footnotes below, data
through 1982 and methodological notes are as
shown in BUSINESS STATISTICS: 1982
1983
1984
1983
Apr.
Annual
June 1984
May
June
Aug.
July
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
25,638
29,202
346.7
347.9
Apr.
May
STONE, CLAY, AND GLASS PRODUCTS
PORTLAND CEMENT
Shipments, finished cement
thous. bbl.
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
Floor and wall tile and accessories, glazed and
unglazed
mi. sq. ft..
Producer Price Index, Brick (common), f.o.b.
plant or N.Y. dock
1967=100..
GLASS AND GLASS PRODUCTS
Flat glass, mfrs.' shipments
thous. $..
Glass containers: t
Production
thous gross
Shipments, domestic, total $
do
Narrow-neck containers:
Food
do
Beverage
do....
Beer
do
Liquor and wine
do
Wide-mouth containers:
Food and dairy products
do
Narrow-neck and wide-mouth containers:
Medicinal and toilet
do....
Chemical household and industrial
do
Stocks, end of period
do .
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
do....
Building plasters, total
(incl. Keene's cement) @
do
Board products, total
mil. sq. ft
Lath
do
Veneer base
do
Gypsum sheathing
do
Regular gypsum board
do
Type X gypsum board
do
Predecorated wallboard
do....
5/16 mobile home board
do....
1
343,463
1
376,287
28383
33,569
39,415
37266
41,931
39,537
39053
32,771
22202
20356
4,408.6
40.9
3250
57916
30.1
3751
4518
34
297
529.1
1.4
306
6154
26
367
5467
23
398
6079
2.8
437
5834
36
400
5457
33
386
4942
2.1
298
3754
2.1
209
3200
10
232
294.8
333.6
27.9
31.4
29.9
27.1
30.5
27.3
29.2
27.0
25.6
24.8
312.5
'337.8
337.7
339.3
340.1
341.9
341.9
341.9
344.0
345.3
345.5
'345.8
871,331 '955,267
238,331
'238,501
'249,777
232 526
309,376
307,113
288 616
287 844
25659
24456
25513
26183
24804
26737
24212
25615
27139
28422
23805
24909
25539
23083
21 130
20288
16665
18483
21 126
21 109
23443
21228
27,658
61,020
107 861
22,265
27374
59,895
97755
22,947
2241
4,872
9076
1754
2496
5,711
9612
1912
2467
6,331
9370
2005
2008
5880
9402
2069
3215
6,347
9164
1980
2995
5,389
7575
2011
1916
4513
7 165
2281
1658
4,230
6256
1870
1502
3,843
5778
1667
2092
3966
6887
1838
2221
4,500
6439
1790
63372
60108
4451
4829
5037
5010
6170
5527
5642
4861
4232
4943
4782
22,322
2615
45,634
17,977
1788
43,307
1,894
168
51269
1,469
154
50,604
1354
173
49467
1 115
1,393
131
153
48104 45,893
1280
132
44080
1441
125
44583
1,294
119
45091
1,350
111
43307
1240
143
44855
1,340
156
46514
1
10,538
1
11,243
6,718
12,948
13,710
8,031
1,053
1,131
636
1,033
1,087
698
1,141
1,167
694
1,017
1 128
784
1,218
1,276
682
1,300
1262
872
1,221
1278
1,161
1,213
741
1,117
1 161
561
1,146
1263
705
1,159
1212
703
1,362
1289
721
M528
4064
235
268
464
338
377
432
471
339
383
268
266
321
'430
M42
36
35
36
30
35
35
40
40
36
36
40
47
257
16,818
36
368
344
10,807
4283
119
861
21
1312
3
28
30
844
322
10
76
21
1,319
3
22
1449
4
21
1422
3
24
1593
3
23
1471
3
22
1548
2
20
1493
3
19
1542
4
20
1494
2
20
1524
3
22
1693
4
29
29
861
317
11
69
35
32
934
356
12
77
31
29
903
366
9
80
37
31
1014
414
10
83
33
31
933
381
10
80
31
30
981
402
10
90
32
29
970
385
9
65
34
25
1000
'408
10
62
34
28
945
407
10
66
37
28
970
398
12
75
39
28
1070
456
12
83
3
702
3
264
3
438
632
263
368
544
234
310
603
215
388
647
267
380
537
229
309
591
207
384
655
260
395
512
226
286
3
643
3
226
3
550
209
341
621
257
364
540
228
312
770
3348
6007
7214
560
459
446
13,116
13 115
6,663
5,814
638
12,515
12514
4,767
7,192
555
11,725
11724
2,506
8,665
553
J
264
13,093
39
286
264
8,447
3486
119
453
4
349.4
TEXTILE PRODUCTS
FABRIC
Woven fabric, finishing plants:
Production (finished fabric)
mil. linear yd..
Cotton
do
Manmade fiber and silk fabrics
do....
Inventories held at end of period
do....
Cotton
do
Manmade fiber and silk fabrics
do....
Backlog of finishing orders
do
Cotton
do....
Manmade fiber and silk fabrics .
.
do
COTTON and MANUFACTURES
Cotton (excluding linters):
Production:
Ginnings 0
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.
6,660
2,466
4,194
637
257
380
7,190
2,654
4,537
598
231
367
11,526
11,963
4,938
7,500
5,553
14,232
14229
2,433
11,101
695
10,686
10685
1,159
8,924
602
2
561
210
351
619
248
371
618
226
392
3
716
3
268
3
431
441
3
10,358
10356
767
8,796
793
9,455
9454
748
7,930
776
562
215
348
603
241
362
592
225
367
448
607
233
374
575
199
376
421
147
274
511
^45
381
592
200
392
592
209
383
630
252
378
541
221
320
2
315
543
369
453
8,449
8447
273
7,419
755
7,561
7560
150
6,656
754
14,047
14046
7,067
6,268
711
3
416
597
230
367
489
223
267
3
468
469
448
10,686
10685
1,159
8,924
602
9,512
9511
1,222
7,643
646
8,347
8346
1,275
6,359
712
3
548
423
6,903
6903
1,166
4,997
740
5,698
5697
962
3,960
775
350.7
SURVEY OF CURRENT BUSINESS
June 1984
Unless otherwise stated in footnotes below, data
through 1982 and methodological notes are as
shown in BUSINESS STATISTICS: 1982
1982
1984
1983
1983
Apr.
Annual
S-31
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
TEXTILE PRODUCTS—Continued
COTTON AND MANUFACTURES—Cont.
Cotton (excluding linters)—Continued
Exports
thous running bfllw
6079
Imports
thous net-weight bales §
' 39
Price (farm), American upland 0
cents per lb..
57.6
Price, Strict Low Middling, Grade 41, staple 34
3
(1-1/16"), average 10 markets
cents per lb..
60.5
Spindle activity (cotton system spindles):
Active spindles, last working day, total
mil..
14.2
Consuming 100 percent cotton
do..
53
Spindle hours operated all fibers total
bil
816
Average per working day
do.
0320
Consuming 100 percent cotton
do....
30.2
Cotton cloth:
Cotton broadwoven goods over 12" in width:
Production (qtrly )
mil sq yd
3779
Orders, unfilled, end of period, compared with
avg weekly production
no weeks' prod
11 1
Inventories, end of period, compared with
avg weekly production
no weeks' prod
71
Ratio of stocks to unfilled orders (at cotton
mills) end of period
065
Exports, raw cotton equiv. thous.
net-weight
480 lb bales
2392
Imports, raw cotton equivalent
do.
6013
Producer Price Index, gray cotton
broadwovens *
12/75=100..
152.6
MANMADE FIBERS AND MANUFACTURES
Fiber production, qtrly:
Acetate filament yarn
mil. lb..
195.2
3550
Rayon staple, including tow
do
Noncellulosic, except textile glass:
30403
Yarn and monofilaments ,,,,-. .,.,,,,, .,,,,,,,, do
Staple, incl. tow
do.... 3,402.5
Textile glass
fiber
do
8992
Fiber stocks, producers', end of period:
Acetate filament yarn
mil. lb..
10.7
Rayon staple including tow
do
259
Noncellulosic fiber, except textile glass:
2798
Yarn and monofilaments ..
do
324.8
Staple, incl. tow
do. .
Textile glass
fiber
do
1410
Manmade fiber and silk broadwoven fabrics:
Production (qtrly.), total #
mil, sq. yd.. 8 585.5
Filament yarn (100%) fabrics #
. *do
2951 1
Chiefly rayon and/or acetate fabrics ........ do....
346.6
Chiefly nylon fabrics
.
. do
3975
Spun yarn (100%) fabrics #
do.... 4,726.7
Rayon and/or acetate fabrics, blends .. do
1137
Polyester blends with cotton
do.... 3,547.8
8930
Acetate filament and spun yarn fabrics . do
Producer Price Index, gray synthetic
143.7
broadwovens *
12/75=100..
Manmade fiber textile trade:
Exports, manmade fiber equivalent
mil. Ibs
43855
Yarn, tops, thread, cloth
do....
200.59
Cloth, woven
do
132.57
23796
Manufactured prods apparel furnishings do
Imports, manmade fiber equivalent
do
80710
132.58
Yarn, tops, thread, cloth
do....
Cloth, woven
.
do
9334
674.51
Manufactured prods., apparel, furnishings., do
Apparel total
do
48531
Knit apparel
do
19309
WOOL AND MANUFACTURES
Wool consumption, mill (clean basis):
1059
Apparel class
.
..
.
mil lb
98
Carpet class
do
Wool imports, clean yield
do
61.4
214
Duty-free
"
do
Wool prices, raw, shorn, clean basis, delivered to
U.S. mills:
Domestic—Graded territory, 64's, staple 2-3/4"
7
and up
cents per lb
2.47
2.99
Australian, 64's, Type 62, duty-paid
do....
Wool broadwoven goods, exc. felts:
Production (qtrly )
mil sq yd
121 1
FLOOR COVERINGS
Carpet, rugs, carpeting (woven, tufted, other),
906.5
shipments, quarterly
mil. sq. yds
APPAREL
Women's, misses', juniors' apparel cuttings:
42 617
Coats
thous. units
1166 747
Dresses
do
*12
138
Suits (incl pant suits jumpsuits)
...
do
Skirts
do.... 1 104,430
Blouses
thous. dozen.. X27.845
See footnotes at end of tables.
5649
8
63.9
612
(6)
60.4
464
(6)
63.6
831
(6)
62.6
409
1
67.1
383
2
67.0
322
1
63.1
261
1
64.0
441
1
66.8
632
(«)
67.3
663
1
62.7
719
1
65.7
896
(«)
70.5
723
(«)
'68.1
74.5
63.1
65.3
66.9
70.7
70.3
72.9
71.7
72.0
73.4
73.0
70.6
71.4
74.9
75.6
79.4
13.9
53
903
0343
33.7
14.0
53
68
0342
2.5
14.2
53
71
0354
2.5
14.2
53
86
0344
4
3.1
13.8
52
59
0295
2.2
14.1
52
78
0372
3.0
14.2
53
88
0352
4
3.4
14.9
53
77
0384
3.0
14.1
5.3
74
0369
2.9
13.9
5.3
76
0305
4
3.0
13.8
5.2
74
'0.371
2.8
14.0
5.2
80
0400
2.9
13.6
5.1
91
'0.364
4
3.2
13.7
5.1
70
r
0.352
2.5
118
100
108
117
148
126
124
126
127
138
104
112
47
48
43
43
51
42
38
38
42
48
46
45
040
044
040
037
034
033
031
030
033
034
044
040
1888
7931
172
546
142
617
159
589
127
645
140
666
154
779
160
714
153
809
148
774
142
99.2
123
965
131
1021
152.1
151.7
152.2
151.0
151.5
151.7
152.8
156.0
156.7
156.7
157.3
159.2
158.1
158.1
157.3
152.4
153.6
4163
1042
1046
1029
227.6
3748
62.2
921
613
921
53.8
980
35605
3,970.6
1 1660
9240
1 015.5
2731
9033
1,032 8
3132
9321
1,035.6
3346
12.5
233
12.2
289
14.1
213
12.5
233
2751
3420
1252
2595
2780
101 1
2704
3008
1027
2751
342.0
1252
10,089.1
36010
255.1
3253
5,295.0
1139
3,998.4
10317
25139
8854
60.6
876
1 331.1
288
1 018.9
2562
25162
8775
660
726
13535
283
10230
2455
2,714.3
10350
67.7
797
1,361.5
303
1,014.2
2724
147.0
145.5
146.1
146.3
146.5
147.4
147.7
149.3
151.5
151.0
148.8
150.9
151.8
43.45
15.61
10.84
2784
7320
14.99
1077
58.22
3863
1533
4039
14.45
907
2595
8699
16.49
1106
7050
4765
2173
3980
14.15
907
2566
10555
18.61
1305
8674
5888
2745
3500
12.50
771
2250
9814
16.81
1131
8133
5516
2544
3621
13.06
838
2316
10825
15.98
1153
9227
6573
2760
3950
14.39
941
2511
9834
15.62
1075
8272
5439
2428
3697
14.72
931
2226
10684
1741
1103
8943
5624
2422
3644
13.44
877
2300
8583
14.69
955
71 15
4275
1619
3524
12.49
776
2274
7793
1336
907
6458
3418
1105
35.08
12.74
7.93
2234
10034
18.91
1250
81.43
5131
1764
3705
13.19
796
2386
11886
1227
1151
10059
6314
2239
4021
15.86
883
2435
11021
1934
1253
9087
5316
1863
1324
119
791
287
106
09
6.7
19
99
10
49
21
128
4
14
51
19
112
09
85
33
112
07
80
25
124
4
09
89
38
110
08
112
27
127
08
90
18
5
1.93
2.66
193
2.62
225
2.63
225
2.71
225
2.70
228
2.66
230
2.68
230
2.76
230
2.79
366
12640
855
7,828
2.839
419
15 106
964
8364
2.946
473
15346
1052
8378
3.084
46071
167.19
10866
29352
1 069 49
182.50
12321
886.99
57439
24130
212
2.66
4
137
4
12
75
29
87
08
65
24
198
2.62
219
2.60
105
11
58
23
223
2.62
4
4
1390
400
282
366
10849
2722
2847
2939
10595
151 386
9327
100,385
31.795
644
15343
615
7,944
2.540
981
14124
818
8,197
2.833
1153
12877
856
8,627
3.045
1,033
10357
932
7,892
2.433
1344
11471
819
9,776
2.790
1,299
11532
786
9,016
2.777
1 118
11393
825
8671
2.997
956
10830
770
7,937
2.599
474
9169
706
7324
2.353
'
4
139
4
10
78
27
78
28
245
2.76
r
234
2.71
SURVEY OF CURRENT BUSINESS
S-32
Unless otherwise stated in footnotes below, data
through 1982 and methodological notes are as
shown in BUSINESS STATISTICS: 1982
1982
1983
June 1984
1984
1983
Apr.
Annual
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
1,100
1429
10 174
19577
3531
25278
879
1 176
7365
10265
3158
24905
1,076
1439
9,724
14 107
3560
24 191
1,039
1559
11,719
15207
3705
25847
1,139
1633
10,352
15400
3,843
28867
24649
lr 231 9
4861
'679
286.2
1471
140
580.8
2814
378
6199
2559
322
310
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
Shirts dress and sport ..
.
.
thous doz
Hosiery shipments
thous doz pairs
4
11 735
4
16 477
4
111
749
4
172
299
4
10768
17139
109 014
202 930
39506
308 079
92 423
288 704
779
1432
9261
16 288
3179
26424
845
1496
8*656
17350
3404
26395
839
1672
10 188
22319
3562
26 070
570
1390
7060
17448
2455
29 966
858
1583
9986
18128
3298
26 144
951
1469
9141
19879
3467
25317
1,098
1510
9675
16996
3356
25829
TRANSPORTATION EQUIPMENT
AEROSPACE VEHICLES
Orders, new (net) qtrly total
U.S. Government
Prime contract
Sales (net) receipts or billings Qtrly total
U S. Government
.
5
mil $
do....
do
do
do
86587
55715
84290
75487
42239
24442
15120
23863
20826
11681
Backlog of orders, end of period #
do
U S Government
do
Aircraft (complete) and parts . . .
do
Engines (aircraft) and parts
do
Missiles, space vehicle systems, engines, propulsion units and parts
mil $
Other related operations (conversions, modifications), products, services
mil. $..
105 810
60067
46446
11958
117 570
73636
53290
12824
13432
14 527
5
13 450
13330
15092
5
15 043
Aircraft (complete);
Shipments t
Airframe weight 1"
Exports commercial
do
thous Ib
mil $
86398
44383
4775
r
!0
193 4 1 1079
r
47 397
5 194
457
5569
16 788
5
9101
5
16 419
5
20 568
5
13 105
5
113 790
5
69 632
5
50 439
5
12 552
7910
3854
397
1 1913
5723
924
4299
1998
368
4848
2 338
178
7851
3490
232
4322
1751
193
8277
3797
307
r
MOTOR VEHICLES (NEW)
Passenger cars:
Factory sales (from U S plants) total tt
Domestic tt
Retail sales, total, not seasonally adj
Domestics §
Imports §
Total seas adjusted at annual rate
Domestics §
Imports §
thous
do....
5049
4696
6739
6201
529
475
587
528
644
592
461
426
492
466
627
581
678
623
636
587
581
541
647
608
682
632
772
702
do....
do
do....
mil
do..
do
7,980
5758
2221
9,179
6793
2386
762
578
184
85
64
21
837
630
207
91
6.9
22
904
668
236
101
7.5
26
792
577
215
97
72
25
741
531
210
89
66
23
705
538
166
92
70
21
861
664
197
98
70
28
782
590
191
95
69
26
752
559
192
105
7.8
27
778
583
195
112
8.4
28
841
655
186
106
8.5
21
964
756
208
100
7.9
21
1 126
1 127
1352
1390
1 191
1201
1 191
1 154
1209
1082
1 102
1050
1088
1 166
1 192
1231
1220
1257
1303
1306
1352
1390
1,471
1498
1,532
1565
1,572
1606
Retail inventories, end of period, domestics: §
Not seasonally adjusted
thous..
Seasonally adjusted ..
.
do
896
721
174
10 1
81
20
1,047
803
244
11 1
8.6
25
l,535
1560
1,460
1428
20
r
23
25
23
2.0
17
17
21
21
22
23
21
2.2
2.2
24
23
374.30
33405
3,067.0
7025
551.16
52399
3,691.0
8368
54.45
5221
277.2
779
51.92
5030
325.5
858
34.26
3275
288.3
560
31.87
3063
263.5
443
46.27
4192
271.6
496
57.22
5464
342.3
670
48.16
4564
346.7
713
38.14
36 18
369.3
984
40.71
3885
396.1
835
53.69
5064
340.6
943
70.88
6857
464.0
875
65.39
6337
365.8
1094
do.
do
7754
2269
8924
*2457
728
208
60.81
58 14
355.8
885
773
215
869
244
789
228
773
246
735
207
757
190
701
176
910
239
747
195
782
194
835
199
do..
do
1906
1779
2414
2260
191
179
212
198
230
214
161
150
192
181
226
214
241
225
233
218
207
192
246
231
252
235
283
264
2,063.8
45.7
138.3
2,520.7
47.7
141.0
207.3
3.8
11.4
222.8
4.1
9.7
247.9
4.4
11.4
204.2
5.0
11.8
185.1
4.8
12.0
224.1
4.4
12.2
221.8
3.8
13.4
223.5
3.0
11.6
244.5
3.9
15.1
226.7
3.7
12.1
256.2
4.3
14.2
313.7
4.7
17.1
289.4
4.8
18.8
325.0
4.8
20.4
2028
38
9.9
201.3
40
9.9
2069
38
10.5
2234
41
11.2
1928
39
119
2412
40
121
240 1
39
135
2480
40
151
2688
44
162
2566
3
46
3
12.6
2455
53
154
2583
45
148
2789
50
164
275 1
45
198
649.5
6294
1052
6728
6643
1520
6864
6767
1576
6846
6736
14 95
679 5
6670
111 41
Inventory-retail sales ratio, domestics § ..
Exports (BuCensus), total
To Canada
Imports (BuCensus), complete units
From Canada, total
do....
do
do....
do
Registrations 0, total new vehicles
Imports incl domestically sponsored
Trucks and buses:
Factory sales (from U.S. plants), total @
Domestic @
.
Retail sales, not seasonally adjusted: *
Light-duty, up to 14,000 Ibs. GVW
Medium-duty, 14,001-26,000 Ibs. GVW
Heavy-duty, 26,001 Ibs. and over GVW
Retail sales, seasonally adjusted:
Light-duty, up to 14,000 Ibs. GVW ..
Medium-duty 14 001-26 000 Ibs GVW
Heavy-duty, 26,001 Ibs. and over GVW
(2)
do....
do....
do....
.do
do
do ...
3
Retail inventories, end of period:
Not seasonally adjusted *
do....
Seasonally adjusted
do
Exports (BuCensus)
do
Imports (BuCensus), including separate chassis
and bodies
thous
539.5
5455
12443
583.7
5914
13186
545.9
5368
1283
551.3
5405
1187
551.4
5256
1333
498.4
5075
1062
5091
5528
11 34
5328
5620
10 11
5714
5703
1267
603 1
5983
10 29
5837
5914
1054
73848
84689
6948
78 19
8099
63 13
6870
61 17
8206
7453
9407
8041
7272
8578
Registrations 0, new vehicles, excluding buses not
produced on truck chassis
thous
2430
2977
244
254
275
259
254
249
265
253
332
282
302
329
Truck trailers and chassis, complete (excludes
detachables), shipments t
number..
Vans t
do
Trailer bodies (detachable), sold separately t •— do....
Trailer chassis (detachable), sold separately t-— do....
96,190
64892
3,988
2,918
121,711
86444
2,215
4,531
6,979
4808
61
47
8708
5958
' 69
147
9,674
6714
31
620
8,387
5202
57
456
11,513
8632
299
414
12898
9683
271
300
12775
9521
171
578
13 182
9739
180
921
14736
11 168
629
961
731 17341
!5 421 12597
88
98
1638
1398
19594
14109
47
1874
1
17,236
1
15,5 15
'7071
'6,321
4,295
4,095
X
5,772
^,570
*5964
^962
3271
3,271
205
205
615
614
4326
4,323
376
376
797
797
4747
4,744
338
338
150
150
4559
4,556
260
260
934
934
3897
3,894
469
469
287
287
3755
3,752
460
458
416
416
3756
3,756
736
736
642
642
3368
3,368
615
615
351
351
3 156
3,156
745
745
805
805
3271
3,271
415
415
2736
2736
5553
5,553
528
528
1 523
1523
6548
6,548
894
894
1 213
1213
6928
6,928
1,039
87
84.87
81.68
1,007
100
82.96
82.37
1,028
95
84.44
82.18
1,026
100
84.18
82.03
1,024
100
84.01
82.05
1,020
10 1
83.77
82.10
1,019
100
83.68
82.09
1,018
98
83.66
82.17
1015
100
83.43
82.24
1011
98
8320
82.29
1007
100
8296
82.37
1,006
100
82.96
82.43
1,001
100
82.60
82.52
104
8222
82.56
3
r
!9
r
(2)
RAILROAD EQUIPMENT
Freight cars (new), for domestic use; all railroads
and private car lines (excludes rebuilt cars and
cars for export):
Shipments
number..
Equipment manufacturers
do....
New orders
do
Equipment manufacturers
do....
Unfilled orders, end of period
do....
Equipment manufacturers
do....
Freight cars (revenue), class 1 railroads (AAR): $
Number owned, end of period
thous..
Held for repairs, % of total owned
Capacity (carrying), total, end of mo
mil. tonsAverage per car
tons..
See footnotes at end of tables.
QQfS
722
722
672
672
6742
6,742
992
106
S-33
SURVEY OF CURRENT BUSINESS
June 1984
FOOTNOTES FOR PAGES S-l THROUGH S-32
General Notes for all Pages:
r
p
e
c
Page S-l
$ Includes inventory valuation and capital consumption adjustments.
§ 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.
Page S-2
1 . Based on data not seasonally adjusted.
# Includes data not shown separately.
$ See note "$" for p. S-8.
t See note "t" for p. S-8.
tt See note "tt" for p. S-3.
@ Revised series. For manufacturing see note "tt" for p. S-3. For retail see note "$" for
p. S-8. For wholesale see note "t" for p. S-8.
Page S-3
# Includes data for items not shown separately.
$ See note "$" for p. S-8.
t See note "t" for p. S-8.
tt Effective May 1984 SURVEY, data have been revised for Jan. 1977-Dec. 1983. A
detailed description of this revision and data appear in the report "Manufacturers' Shipments, Inventories, and Orders" M3-1.13 (1977-1983), copies of this report can be purchased from the Superintendent of Documents, U.S. Government Printing Office, Washington,
DC 20402. A computer tape of the report, including data back to 1958 can be purchased
from the Data User Services Division, Customer Services Branch, Bureau of the Census,
Washington, DC 20233.
@ See note "@" for p. S-2.
Revised,
Preliminary,
Estimated,
Corrected.
t Data for seasonally adjusted housing starts have been revised from 1981-83, and are
available upon request.
$ Data for seasonally adjusted building permits have been revised from Jan. 1982-Mar.
1984, and are available upon request.
@ Unadjusted data for manufacturers' shipments of mobile homes for January 1982
through November 1983 and seasonally adjusted data for January 1981 through November
1983 have been revised and are available upon request.
Page S-8
1. Advance Estimate.
2. Direct endorsement cases are included beginning with June data.
O Home mortgage rates (conventional first mortgages) are under money and interest
rates on p. S-l4.
§ Data include guaranteed direct loans sold.
# Includes data for items not shown separately.
t Effective April 1984 SURVEY, wholesale trade data have been revised for Jan. 1978-Dec.
1983. A detailed description and the revised series appear in the report "Revised Monthly
Wholesale Trade" BW-13-83s, available from the Bureau of the Census, Washington, DC
20233; $2.50 per copy.
$ Effective April 1984 SURVEY, retail trade data have been revised for Jan. 1978-Dec.
1983. Revised data and a summary of changes appear in the report "Revised Monthly Retail
Sales and Inventories" BR-13-83s, available from the Bureau of the Census, Washington,
DC 20233; $2.75 per copy.
* New series. Annual data for earlier periods are available upon request. Monthly data
for earlier periods will be available later.
Page S-4
Page S-9
1 . Based on data not seasonally adjusted.
# Includes data for items not shown separately.
$ 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.
t See note "tt" for p. S-3.
0 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.
1. Advance estimate.
* Includes data for items not shown separately.
O Effective with the January 1984 SURVEY, the seasonally adjusted labor force series
have been revised back to January 1979. Revised monthly series appear in the February
1984 issue of Employment and Earnings.
t The participation rate is the percent of the civilian noninstitutional population in the
civilian labor force. The employment-population ratio is civilian employment as a percent
of the civilian noninstitutional population, 16 years and over.
t See note "$" for p. S-8.
* New series.
@ Data include resident armed forces.
Page S-5
1 . Based on unadjusted data.
2. Series will resume when Dun & Bradstreet has completed revising data processing
procedures.
@ Compiled by Dun & Bradstreet, Inc.
# Includes data for items not shown separately.
§ Ratio of prices received to prices paid (parity index).
$ See note "$" for p. S-4.
t Effective with the Feb. 1984 SURVEY, data have been revised (back to 1981 for some
commodities) and are available upon request.
O Beginning with data for January 1983, the index is affected by a change in methodology used to compute the homeownership component. For additional information regarding
this change, see p. S-36 of the Feb. 1983 SURVEY.
# New series.
See note "tt" for p. S-3.
Page S-10
§ These unemployment rates are for civilian workers only. The unemployment rate for
all workers, including the resident armed forces, was 7.4 in May 1984.
O See note "O" for p. S-9.
* New series.
t Effective June 1984 SURVEY, data have been revised back to April 1982 (not seasonally adjusted) and January 1979 (seasonally adjusted) based on the March 1983 benchmark, an improved method for estimating the employment effect of new firms entering the
economy, and revised seasonal factors. The June 1984 issue of "Employment and Earnings" will contain a detailed discussion of the effects of the revisions.
Page S-6
Page S-l 1
§ For actual producer prices or price indexes of individual commodities, see respective
commodities in the Industry section beginning p. S-l9. All indexes subject to revision four
months after original publication.
# Includes data for items not shown separately.
# New series. This index (first shown in the Feb. 1984 SURVEY) reflects costs associated
with homeowners' consumption of shelter service. This new index combines the subindexes
of owners' equivalent rent and household insurance. Indexes prior to Dec. 1982 are not
available. For additional information, see p. S-36 of the Feb. 1983 SURVEY.
$ Effective with the Feb. 1984 SURVEY, data have been revised back to 1979 to reflect
updated seasonal factors and are available upon request.
t Effective with the Feb. 1984 SURVEY, data back to 1979 have been revised and are
available upon request.
O See note "<>" for p. S-5.
$ 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.
O Production and nonsupervisory workers.
* New series.
t See note "t" for p. S-10.
Page S-7
1. Computed from cumulative valuation total.
2. Index as of June 1, 1984: building, 357.8; construction, 387.3.
# Includes data for items not shown separately.
§ Data for Mar., June, Sept., and Dec. 1983, and Mar. 1984 are for five weeks; other
months four weeks.
Page S-12
1. 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. Use the corresponding unadjusted series.
O Production and nonsupervisory workers.
$ Earnings in 1977 dollars reflect changes in purchasing power since 1977 by dividing by
Consumer Price Index.
§ Wages as of June 1, 1984: Common, $15.76; Skilled, $20.60.
* New series.
@ New series. The Employment Cost Index (ECI) is a quarterly measure of the average
change in the cost of employing labor.
t Excludes farm, household, and Federal workers.
tt See note "f'for p. S-10.
S-34
SURVEY OF CURRENT BUSINESS
June 1984
Page S-13
Page S-16
1. Average for Dec.
2. Reported annual; monthly revisions are not available.
3. Effective December 1, 1982, there was a break in the commercial paper series because
of changes in reporting panels, modifications to reporting instructions and corrections to
misreported bank data.
$ Effective January 1984, series revised due to changes in the reporting panel and in the
item contents. The new panel includes 168 banks that had domestic office assets exceeding
$1.4 billion as of December 31, 1982.
# Includes data for items not shown separately.
$$ Reflects offsetting changes in classification of deposits of thrift institutions. Deposits of thrifts were formerly grouped with deposits of individuals, partnerships, and corporations, instead of with deposits of commercial banks in the United States.
* "Transaction balances other than demand deposits" consists of ATS, NOW, super
NOW, and telephone transfer accounts, which formerly were classified with savings deposits. "Nontransaction balances" reflects the combination of deposits formerly reported separately as time deposits and the savings deposits remaining after deduction of the items now
reported separately under "transaction balances."
§ Excludes loans and federal funds transactions with domestic commercial banks and
includes valuation reserves (individual loan items are shown gross; i.e., before deduction of
valuation reserves).
O Securities of Federal agencies and corporations have been shifted out of "other securities" and are now combined with U.S. Treasury securities. Also, loan obligations of States
and political subdivisions have been shifted out of "other securities" and are now shown
separately among the loan items.
@ 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.
1. The Aaa public utility average was suspended Jan. 17, 1984, because of a lack of
appropriate issues. The 1984 ranges for the average corporate and Aaa corporate do not
include Aaa utilities after January 16.
§ 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.
O As of Jan. 25, 1984, the base period was changed to 1982= 100.
Page S-14
1. Data are for fiscal years ending Sept. 30 and include revisions not distributed to the
months.
2. Average for the year.
3. Daily average.
4. Interest rate charged as of June 1, 1984 was 11.16.
t Effective April 1984 SURVEY, the consumer installment credit series have been revised
back to July 1980 to reflect more complete benchmark data for some of the components.
# Includes data for items not shown separately.
O Adjusted to exclude domestic commercial interbank loans and federal funds sold to
domestic commercial banks.
$ Rates on the commercial paper placed for firms whose bond rating is Aa or the equivalent.
$$ Courtesy of Metals Week.
@@ Average effective rate
* New series.
Page S-15
1. Beginning 1983, the reporting frequency has been changed from a monthly to a quarterly basis.
2. This series has been discontinued.
t Effective Feb. 1984 SURVEY, the money stock measures and components have been
revised back to 1959 and 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—This measure is currency plus demand deposits at commercial banks and interestearning checkable deposits at all depository 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 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 depository institutions. Depository 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.
M3.—This measure equals M2 plus large-denomination time deposits (those issued in denominations of $100,000 or more) at all depository 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 depository institutions, credit union share
draft balances, and demand deposits at thrift institutions.
O 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.
* New series. For "Other checkable deposits," see also note "$$" for this page.
@ 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.
§ Number of issues represents number currently used; the change in number does not
affect the continuity of the series.
@@ Annual data for 1978-82 and monthly data for 1982 have been revised to exclude
private placements. Monthly revisions for 1978-81 are not available.
Page S-17
1. Beginning with Jan. 1982 data, the Customs value is being substituted for the f.a.s.
value.
# 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.
Page S-18
1. See note 1 for p. S-17.
2. Annual total; quarterly or monthly revisions are not available.
3. Before extraordinary and prior period items.
4. For month shown.
5. Domestic trunk operations only (averaging about 90 percent of domestic total).
6. Restaurant sales index data represent hotels and motor hotels only.
# Includes data for items not shown separately.
§ Total revenues, expenses, and income for all groups of carriers also reflect nonscheduled service.
$ Beginning Jan. 1977, Class I railroads are defined as those having operating revenues
of $50 million or more.
O Average daily rent per room occupied, not scheduled rates.
## Data represent entries to a national park for recreational use of the park, its services,
conveniences, and/or facilities.
# New series.
Page S-19
1. Reported annual total; monthly revisions are not available.
2. A portion of data is being withheld to avoid disclosing information for individual
companies; not comparable with other published data.
3. A portion of data is being suppressed because of not meeting publication standards.
For nitrogen solutions, prior to May 1983, see also note 2 for this page.
4. Figure is being suppressed because of not meeting publication standards.
5. Effective with May 1984 SURVEY, data have been restated to represent thousands of
metric tons.
# Includes data for items not shown separately.
§ Data are reported on the basis of 100 percent content of the specified material unless
otherwise indicated.
t Monthly data back to 1981 have been revised and are available upon request.
# New series, first shown in the Mar. 1984 SURVEY. Annual and monthly data back to 1980
are available upon request.
Page S-20
1. Reported annual total; monthly or quarterly revisions are not available.
2. Annual total includes data for Hawaii; not distributed to the months.
§ Data are not wholly comparable from year to year because of changes from one classification to another.
t Revised quarterly data for 1981 and 1982 are available upon request.
<> Effective 1983, data are based on a new sample of approximately 150 establishments,
which was selected using the 1981 annual survey "Paints and Allied Products" panel as a
universe frame. Comparable data for 1979-82 are available upon request.
t Revised quarterly data for 1982 are available upon request.
Page S-21
1. Based on quotations for fewer than 12 months.
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. See note "@" for this page.
7. Figure is preliminary and subject to change.
8. Quarterly estimates of rye stocks will no longer be available; however, June 1 stock
estimates (representing previous year's crop) will continue to be published each year.
9. Represents stocks as of June 1, based on previous year's crop.
10. May 1 estimate of 1984 crop.
§ Excludes pearl barley.
# Bags of 100 Ibs.
@ Data are quarterly except for June (covering Apr. and May) and Sept. (covering
June-Sept.).
# New series, first shown in the Mar. 1984 SURVEY. Annual and monthly data for earlier
periods are available upon request.
S-35
SURVEY OF CURRENT BUSINESS
June 1984
Page S-22
Page S-29
§ Cases of 30 dozen.
O Bags of 132.276 Ibs.
$ Monthly revisions for 1982 are available upon request.
* New series, first shown in the Mar. 1984 SURVEY. Annual and monthly indexes covering wheat for earlier periods are available upon request.
1. See note 1 for p. S-28.
2. Average for 11 months; no price available for Dec. 1983.
O Source: American Paper Institute. Total U.S. estimated consumption by all newspaper users.
t See note "t" for p. S-28.
Page S-23
Page S-30
1. Crop estimate for the year.
2. Average for seven months; price not available for July, Aug., and Oct.-Dec.
3. Annual total; monthly revisions are not available.
4. Effective December 1983 SURVEY, the footwear production series have been revised
back to January 1981.
# Totals include data for items not shown separately.
* New series, first shown in the Mar. 1984 SURVEY. Annual and monthly indexes for
earlier periods are available upon request.
t New series.
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. See note "@" for this page.
# Includes data for items not shown separately.
O Cumulative ginnings to the end of month indicated.
§ Bales of 480 Ibs.
$ Beginning Jan. 1982, shipments include those for direct export; such shipments for
1981 were 2,165 thous. gross.
t Monthly revisions for 1981 and 1982 are available upon request.
@ Effective with the Mar. 1984 SURVEY, sales of regular basecoat and all other building plasters (including Keene's cement) have been combined to represent sales of total
building plasters. For comparability, earlier published figures for these two series should be
combined.
Page S-24
1. Annual data; monthly revisions not available.
2. Less than 500 short tons.
t New series.
Page S-25
1. Annual data; monthly revisions are not available.
2. For month shown.
t Beginning January 1982, data represent metallic (mostly aluminum) content. Data for
1981 and prior years represent aluminum content only.
Page S-26
1. Annual data; monthly revisions are not available.
2. Less than 50 tons.
O 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.
Page S-27
1. Data withheld to avoid disclosing information for individual companies.
2. Data are for five weeks; other months 4 weeks.
# Includes data for items not shown separately.
§ Includes nonmarketable catalyst coke.
O Includes small amounts of "other hydrocarbons and alcohol new supply (field production)," not shown separately.
t Effective with the Nov. 1983 SURVEY, monthly revisions for 1982 are available upon
request.
* New series. Includes U.S. produced and imported microwave ovens and combination
microwave oven/ranges.
Page S-28
1. Reported annual totals; revisions not allocated to the months.
2. Effective with Jan. 1983, data include road oil. Total road oil data for 1982 were
(thous. bbl.): 591, domestic demand; 610, production; 47, stocks.
t New series. First shown in March 1984 SURVEY. Earlier data are available upon
request.
* New series, first shown in the Feb. 1984 SURVEY. Prices back to 1974 are available
upon request.
# Includes data for items not shown separately.
Page S-31
1. Monthly data discontinued for the year 1982; reinstated beginning Jan. 1983.
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. Average for 10 months; no data for Jan.-Feb.
6. Less than 500 bales.
7. Average for 9 months; no data for Oct.-Dec.
O 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.
* New series.
Page S-32
1. Annual total includes revisions not distributed to the months.
2. Production of new vehicles (thous. of units) for May 1984: passenger cars, 713; trucks,
293.
3. Effective with the Feb. 1984 SURVEY, data have been revised back to 1981 to reflect
updated seasonal factors and are available upon request.
4. Monthly data discontinued for the year 1982; reinstated beginning Jan. 1983.
5. Effective with the April 1984 SURVEY, data have been revised back to 4th Qtr. 1980
and are available upon request.
# 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.
<> 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.
t Monthly revisions for aircraft shipments and airframe weight for 1982 are available
upon request. Monthly revisions for truck trailers, etc. for 1981 and 1982 are available upon
request.
@ Includes passenger vans.
* New series, first shown in the Mar. 1984 SURVEY. Annual and monthly data back to
1967 are available upon request.
tt Includes Volkswagens produced in the U.S.
SURVEY OF CURRENT BUSINESS
S-36
June 1984
The Prime Rate
The prime rate is the interest rate banks charge their most creditworthy
business customers for short-term loans. It is the base used to scale
upward the rates charged on most loans to other business customers. The
prime rate is not as sensitive as money market instrument rates, which
fluctuate daily in response to short-term changes in supply and demand.
Rather, its movements tend to be infrequent, changing only by increments of one quarter of a percentage point. Major banks tend to change
their prime rate in response to increasing differentials with selected open
market money rates.
The data are monthly averages computed by multiplying each "predominant" prime rate (the rate charged by the majority of 30 large money
market banks) by the number of days it was in effect during the month,
summing these products, and dividing by the number of days in the
month. The annual data are unweighted averages of the monthly averages.
For a discussion of the history of the prime rate and its role in the
lending process, see "The Prime Rate," Monthly Review, Federal Reserve
Bank of New York, April and May 1962, pp. 54-59 and 70-73, respectively,,
Prime rate charged by banks on short-term business loans—present
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
1.50
1.75
2.00
2.00
1.50
2.00
2.00
2.00
Oct.
Nov.
Dec.
Annual
1.50
2.00
2.00
2.08
1.50
2.00
2.00
2.25
1.50
2.00
2.00
2.25
1.75
2.00
2.00
2.25
1.52
1.85
2.00
2.07
Sept.
1947 .
1948
1949
1950
1 50
1.75
2.00
200
1.50
1.75
2.00
2.00
1.50
1.75
2.00
2.00
1.50
1.75
2.00
2.00
1.50
1.75
2.00
2.00
1.50
1.75
2.00
2.00
1951
1952
1953
1954
1955
2.44
300
3.00
3 25
300
2.50
3.00
3.00
3 25
3.00
2.50
3.00
3.00
3 13
3.00
2.50
3.00
3.03
300
3.00
2.50
3.00
3.25
300
3.00
2.50
3.00
3.25
3.00
3.00
2.50
3.00
3.25
3.00
3.00
2.50
3.00
3.25
3.00
3.23
2.50
3.00
3.25
3.00
3.25
2.62
3.00
3.25
3.00
3.40
2.75
3.00
3,25
3.00
3.50
2.85
3.00
3.25
3.00
3.50
2.56
3.00
3.17
3.05
3.16
1956
1957
1958
1959
I960
350
4.00
4.34
400
5.00
3.50
4.00
4.00
400
5.00
350
4.00
4.00
400
5.00
3.65
4.00
3.83
4.00
5.00
3.75
4.00
3.50
4.23
5.00
3.75
4.00
3.50
4.50
5.00
3.75
4.00
3.50
4.50
5.00
3.84
4.42
3.50
4.50
4.85
4.00
4.50
3.83
5.00
4.50
4.00
4.50
4.00
5.00
4.50
4.00
4.50
4.00
5.00
4.50
4.00
4.50
4.00
5.00
4.50
3.77
4.20
3.83
4.48
4.82
1961
1962
1963
1964
1965
450
4.50
450
4.50
450
4.50
4.50
450
4.50
450
4.50
4.50
450
4.50
450
4.50
4.50
4.50
4.50
450
4.50
4.50
4.50
4.50
450
4.50
4.50
4.50
4.50
4.50
4.50
4.50
4.50
4.50
4.50
4.50
4.50
4.50
4.50
450
4.50
4.50
4.50
4.50
4.50
4.50
4.50
4.50
4.50
450
4.50
4.50
4.50
4.50
4.50
4.50
4.50
4.50
4.50
4.92
4.50
4.50
4.50
4.50
4.54
1966
1967
1968 .
1969
1970
5.00
596
6.00
695
8.50
5.00
575
6.00
700
8.50
5.35
571
6.00
7 24
8.39
5.50
5.50
6.20
7.50
8.00
5.50
5.50
6.50
7.50
8.00
5.52
5.50
6.50
8.23
8.00
5.75
5.50
6.50
8.50
8.00
5.88
5.50
6.50
8.50
8.00
6.00
5.50
6.45
8.50
7.83
6.00
5.50
6.25
8.50
7.50
6.00
5.68
6.25
8,50
7.28
6.00
6.00
6.60
8.50
6.92
5.63
5.63
6.31
7.95
7.91
1971
1972
1973
1974
1975
6.29
5.18
600
9.73
10.05
5.88
4.75
602
9.21
8.96
5.44
4.75
630
8.85
7.93
5.28
4.97
6.61
10.02
7.50
5.46
5.00
7.01
11.25
7.40
5.50
5.04
7.49
11.54
7.07
5.91
5.25
8.30
11.97
7.15
6.00
5.27
9.23
12.00
7.66
6.00
5.50
9.86
12.00
7.88
5.90
5.73
9.94
11.68
7.96
5.52
5.75
9.75
10.83
7.53
5.49
5.79
9.75
10.50
7.26
5.72
5.25
8.02
10.80
7.86
1976
1977
1978
1979
1980 . .. .
7.00
6.25
793
11 75
15.25
6.75
6.25
8.00
11.75
15.63
6.75
6.25
8.00
11.75
18.31
6.75
6.25
8.00
11.75
19.77
6.75
6.41
8.27
11.75
16.57
7.20
6.75
8.63
11.65
12.63
7.25
6.75
9.00
11.54
11.48
7.01
6.83
9.01
11.91
11.12
7.00
7.13
9.41
12.90
12.23
6.77
7.52
9.94
14.39
13.79
6.50
7.75
10.94
15.55
16.06
6.35
7.75
11.55
15.30
20.35
6.84
6.82
9.06
12.67
15.26
20.16
15.75
11.16
19.43
16.56
10.98
18.05
16.50
10.50
17.15
16.50
10.50
19.61
16.50
10.50
20.03
16.50
10.50
20.39
16.26
10.50
20.50
14.39
10.89
20.08
13.50
11.00
18.45
12.52
11.00
16.84
11.85
11.00
15.75
11.50
11.00
18.87
14.86
10.79
1981
1982
1983
....
SECTIONS
1
rGeneral:
i»
Business indicators ...........................................
1-5
Commodity prices ........................................
5, 6
Construction and real estate .».....*.„.........,.....*.
7, 8
Domestic trade ,..,.....................,..*..,..»„..*...,.....
8, 9
Labor force, employment, and earnings........... 9-13
Finance ..*.......*......«.«....«..................,,.,.».....,... 13-16
Foreign trade of the United States.................. 16-18
Transportation and communication ................. 18, 19
Industry:
Chemicals and allied products ..... .
.
Electric power and gas .....................................
Food and kindred products; tobacco
Leather and products .......................................
Lumber and products .......................................
Metals and manufacturers .................... —.,...
Petroleum, coal, and products .........................
Pulp, paper, and paper products ......................
19, 20
20
20-23
23
23, 24
24-27
27, 28
28, 29
Rubber and rubber products ............................
29
Stone, clay, and glass products ........................
30
Textile products .„......„„„.,.*..,..„..................... 30-32
Transportation equipment .........................
32
Footnotes
.......
...........
33-35
INDIVIDUAL SERIES
Advertising „.„„„,..,.*....„........«...«.,.,„.„„.„„„...« 8, 12
Aerospace vehicles ...............................................
32
Agricultural loans
.................... .
13
Air carrier operations ..........................................
18
Air conditioners (room).,..,.......,.,,.,,.,..,,.,.............
27
Aircraft and parts .,.,.*,*.........,..* —..,..*..,*..*..— 4, 32
Alcohol, denatured and ethyl ..*,,*„,..„........,.....„.,
19
Alcoholic beverages*.*,,,*.*..*...........*..,.,.....,..*.....,.. 8, 20
Aluminum ...„.,...........,...«.........„„„.„....,...*,......».
25
Apparel ...... .....«....*...„....*..,.*....,. 2, 4-6, 8-12, 31, 32
Asphalt..................................................................
28
Automobiles, etc ...... — ....... 2-4, 6, 8, 9, 14, 15, 17, 32
Banking ................................................................ 13, 14
Barley „...*...„.„........„„„„..„„**.*.„.......,........,,..»...
21
Battery shipments .*,*........«..........„„„„.,„..„„......
27
Beef and veal .....„.«.„.„„„..„„„„.„..............„....*»*.
22
Beverages ........................................................... 8, 17, 20
Blast furnaces, steei mills „„....„.„.«.,.„«„,.„..„.„»,
3-5
Bonds, prices, sales, yields .,«...„.„..„*...„.„......«. 15, 16
Brick .....................................................................
30
Building and construction materials.................... 2, 4, 5
Building costs ..,.«.«,..*..,...,,,......u.........................
7
Building permits...................................................
7
Business incorporation (new), failures ................
5
Business sales and inventories .............................
2, 3
Butter ....................................................................
21
Carpets „„.„.„„,....„......«..........,„...„.„*..........,..*..»
31
Cattle and calves...................................................
22
Cement . ...,...„
.....„..,..„..„.*..»„„.„......«....„
30
Chain-store sales, firms with 11 or more
stores (retail trade) ...........................................
9
Cheese*...*........,........*..,,.......,...............,*.,.*.,..,.,,...
21
Chemicals „,.„„,.....„.„„.,.»„... 2-4, 10-12, 15^ 17, 19, 20
Cigarettes and cigars,,..*,*.,....,.....,..,.,.,..*..*.,,,.,,....
23
Clay products ....................................................... 2-4, 30
Clothing (see apparel)
Coal „..„........„.„....„..»....,.,,***..„..................,**....... 2, 27
Cocoa.....................................................................
22
Coffee *..*.»*..........*......**„*«„....,..........*».',.„*,*„.»,..»
22
Coke......................................................................
27
Combustion, atmosphere, heating equipCommunica5on*"*«!.^
15, 19
Construction:
Contracts ..........................................................
7
Costs .................................................................
7
Employment, unemployment, hours,
earnings „.„........„.„„*,*„,,..„„,.„..,..„.,*„..„*.... 10-12
Housing starts ..................................................
7
New construction put in place .........................
7
Consumer credit ...................................................
14
Consumer goods output, index ............................
1, 2
Consumer Price Index .........................................
5, 6
Copper and copper products ................................ 25, 26
Corn ......................................................................
21
Cost of Tiding (see Consumer Price Index).!........
5, 6
Cotton, raw and manufactures,,..*.,.,...,............. 5, 30, 31
Credit, commercial bank, consumer ....................
14
Crops.,........,***.......,.....,..........*,*,.**.*,.**,........ 5, 21, 23, 30
fViirfp nit
'
Currency in circulation ............ ............................
\ 27
15
Dairy products ...,v............;..,.*,.,.*,,*.**.,...«.........,,, 5, 21
Debt, U.S* Government .„„*„„*„..*„„,„..„......,..,..*
14
Deflator, PCE ......................................................
1
Department stores, sales, inventories ..................
9
Deposits, bank „„„....«..,.......,*,„„.„*„*.....,..«,...,.,, 13, 15
3g
Dishwashers and disposers....*..*,..,,*.,*,,..,......
27
Disposition of personal income ....................
1
Distilled spirits „ .,...........„...„...„.„......„„*
20
Dividend payments .....................................
1,15
Drugstores, sales * * . ,..*.*..«***», *« . .........
Earnings, weekly and hourly ........................
12
Eating and drinking places .........................
Eggs and poultry ...........................................
5,22
Electric power ...............................................
2,20
Electrical machinery and equipment.,.........,,
2*5,
10-12,15,27
.."
'
'1
Employee-hours, aggregate, and indexes.............
11
Employment and employment cost ....................... 10-12
20
Explosives..............,,.,..............,....,,,*...*.........,.,..„.
Exports (see also individual commodities) ....,...,„ 16-18
Failures, industrial and commercial ....................
5
Farm prices ...................................................
5,6
Fats and oils ......„,*„..„.„.......«„.,»„..„.„.....„..,....*,
17
Federal Governmentfinance.................................
14
Federal Reserve banks, large commercial....„*.,...
13
Federal Reserve member banks ............................
13
Fertilizers ..............................................................
19
22
Fish,...............,*.,,*....,..,.........**,,,..*....,......,,....,,„,„„
Flooring, hardwood ...............................................
24
Flour, wheat ..................................................
Food products .................... 2*6, 8, 10-12, 1LM7, 20-23
Foreign trade (see also individual commod.) ...... 16-18
Freight cars (equipment) „.**;.,.*..„...„.„„.*„.„.......
32
Fruits and vegetables „.„.„.„.„............,..,..„*.........
5
Fuel oil ........,„..,„.,*,....„.........„.......„*
.,.,,... 6,28
6,17, 27, 28
Furnaces ........................................................
27
Furniture........................................................... 2, 6, 8-12
„..„... 2,6,20
Gas, output, prices, sales, revenues ..............
Gasoline .........................................................
28
Glass and products »*„„»*..„..,......**.»*.*.*„.«„„«
30
Glycerin .........................................................
19
14
Gold «.....T!""!.*«.*r^
Grains and products ...................................... ... 5, 21,22
Grocery stores .*..„.„........„**„.......„..„„.„..»„. i.....
9
Gypsum and products ...................................
30
Hardware stores ........................».,....,*....„.„...
Heating equipment *.„...,...,„„*„.,».....,..,..»,.,*..,
26
Help- wanted advertising index .... — .............
12
Hides and skins ............,„.*.....
.,.„..*..,.*.,
6
Hogs ...............................................................
22
Home loan banks, outstanding advances ...*.
8
Home mortgages ...........................................
8
Hotels, motor hotels and economy hotels .....
18
Hours, average weekly ...................................
11
Housefurnishings ..........................................
...2,4,6,8,9
Household appliances, radios, and television ets
27
Housing starts and permits ...........................
7
Imports (see also individual commodities) ... — 17,18
Income, personal ...........................................
1
Income and employment tax receipts ...........
14
By industry
1,2
By market grouping ........ * ................ * .....
1,2
14
Installment credit ...........................................
Instruments and related products..,.,........,,... 2-4,10-12
Interest and money rates ...............................
14
Inventories, manufacturers' and trade .......... ..... 3,4,9
3
', Inveritory»sales rates *«.............»*,................*,.<
Iron and steel .............................................. 12,15, 24, 25
Labor force .«*.*.*......„,*....*,...*..*.«**«,*„„„.„..*..,•
9,10
Lamb and mutton ..........................................
22
Lead ................................................................
26
Leather and products ..............................„ 2, 6,10-12, 23
Livestock ...........
....„*„.....„...........„.„.
5,22
Loans, real estate, agricultural, bank (see
Consumer credit) , .. ........
. . ...... .
8,13
Lubricants
,..
28
Lumber and products ........................ 2, 6, 1
Machine tools .................................................
Machinery ,.....„.*„...„....„...... 2-6, 10-12, li
Manufacturers' sales (or shipments), inventoi
orders ,*.»..•.......*.„..,.«.....«*..„„*,„*«„»„.*.»„»»..
Manufacturing employment, unemploym
production workers, hours, earnings .........
Manufacturing production indexes ................
Meat animals and meats ................................
Medical care ...................................................
Metals...............*....,...........,,..,,
2-6, 10-1
26
...
3-5
it,
... 10-12
...
1,2
... 5,22
6
15, 24-26
\JtiHf
JVlIlK .............«...»....«.,......................*................
21
Mining .. ,.,
*
„,.
, 2,10-12
Mobile homes, shipments, installment credit ... 7,14
15
Monetary statistics ........................................
Money and interest rates,........,,.,,.,.*,.,,,........
14
Money supply .................... .......v....... .............
15
Mortgage applications, loans, rates ............... 8,13,14
Motor carriers .............. ...... ..*.... ......................
18
Motor vehicles ..........*„*,...
. 2-4, 6, 8, 1
National parks, visits .....„..,.„.„,„.,.,.,.........,»,.,„,.
18
Newsprint .,„„.... .«.......,.......,....«.....«*...,....^...
29
New York Stock Exchange, selected data..........
16
Nonferrous metals,.,,....,........... „.,« 2,4, 5,15, 25, 26
Oats .„..«......„«».„............«.«...„..,.«..„......».»«.*„
21
Oils and fats ....................—............................
17
Orders, new and unfilled, manufacturers'...........
4,5
Outlays, U.S. Government...................................
14
20
Paint and paint materials . .....„,».„*„..„.....
Paper and products and pulp. ...................... 2-4,
6,10-12,15, 28, 29
Parity ratio.......
.*„*.„..„..„„.„...
5
2-4,6,8,9,15,17,32
Passenger cars,.,
„.„....„
18
Passports issued
Personal consumption expenditures
1
1
Personal income.......
1
Personal outlays
... 2-4,
Petroleum and products
17, 27,28
24
Pig iron .„.„..............,......„„„*.
20
Plastics and resin materials...
Population ..............................
9
22
Pork.
Poultry and eggs .................*........................ ... 5,22
1
Price deflator, implicit (PCE) ......„„„,*..*,,..
5,6
Prices (see also individual commodities)..... ...
2,10-12
Printing and publishing................................
Private sector employment, hours, «...
ings ....„......,..»*..„...................,,„..;,................„.. 10-12
Producer Price Indexes (see also individual commodities) ...........................................................
6
Profits, corporate.....*.*,......,.,..........*.*.*,...,,.,..,......
15
Public utilities.............................. ........ 1, 2,7,15,20
Pulp and pulpwood...............................................
28
Purchasing power of the dollar ...........................,
6
Radio and television.......—.—
Railroads ...................................
Ranges and microwave ovens ....
Real estate..................................
Receipts, U.S. Government....,.*,
Refrigerators and freezers.........
Registrations (new vehicles)......
Rent (housing) ............................
Retail trade ......„.».„„„„......„.,..,
Rice....,...,..,,.,,,.............,.....,........
Rubber and products (incl. plastics).,
Saving, personal.....................
Savings and loan associations
Savings deposits.....................
Securities issued,
Security markets
Services
Sheep and lambs.........
Shoes and other footwear „
Silver.,....,,,...,..,..,,.......,...,....,,,,,
Spindle activity, cotton...........
Steel and steel manufactures ..
Stock market customer financing....
Stock prices, yields, sales, etc
Stone, clay, glass products .....
Sugar......................... ,,„„........,
Sulfur .....,.....,„„.....«..............**;...,.................,..*...
Sulfuric acid ...........*.*.....................,»,.»*.,..............
Superphosphate ....................................................
Synthetic textile products .,.....,.....„...„.„.,„.,...,„.
19
19
19
31
Tea imports ..........................................................
23
Telephone and telegraph carriers ........................
19
Textiles and products.............. 2-4,6,10-12,15,30, 31
Tin „................„,...„.„.„„..........„...,...*,»...............,
26
Tires and inner tubes ...........................................
29
Tobacco and manufactures ....,„„..„,,,..«.. 2-4,10-12, 23
Tractors................................................................
27
Trade (retoVfand"whoT^
32
Transit lines, urban..............................................
18
Transportation .................*..„...
..... 6,10-12,15,18
Transportation equipment..
2-6,10-12,15,17, 32
Travel.......,,,.....,..............,...............................*.,...
18
Truck trailers .....„„,„.........,............,„,.*.„„.».......
32
Trucks........,,,...................,..*.,.,...,. ,.........«„„„.
32
Unemployment and insurance
U.S. Government bonds...,
U.S. Government finance
Utilities ..»...*...„............
Vacuum cleaners ........
Variety stores —„.....„
Vegetables andfruits,
Wages and salaries .....
Washers and dryers ...,
Water heaters
Wheat and wheat flour .....
Wholesale trade.................
Wood pulp ...... .............
Wool and wool manufactures .
UNITED STATES
GOVERNMENT PRINTING OFFICE
SUPERINTENDENT OF DOCUMENTS
WASHINGTON, D.C. 20402
Penalty for Private Use, $300
@FedFRASER