Full text of Survey of Current Business : March 1949
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MARCH
U. S. DEPARTMENT OF COMMERCE
B U R E A U OF F O R E I G N AND DOMESTIC C O M M E R C E
1949
DEPARTMENT OF COMMERCE
FIELD SERVICE
SURVEY
OF CURRENT BUSINESS
Albuquerque, N. Mex.
203 W. Gold Ave.
Memphis 3, Tenn.
229 Federal Bldg.
Atlanta 1, Ga.
50 Whitehall St. SW'
Miami 32, Fla.
36 NE. First St.
Baltimore 2, Md.
103 S. Gay St.
Milwaukee 1, Wia.
517 E. Wisconsin Ave.
Boston 9, Mass.
2 India St.
Minneapolis 1, Minn.
2d Ave.S. at 4th St.
Buffalo 3, N. Y.
117 Ellicott St.
Mobile, Ala.
109-13 St. Joseph St.
Butte, Mont.
14 W. Granite St.
New Orleans 12, La.
333 St. Charles Ave.
Charleston 3, S. C.
18 Broad St.
New York 4, N. Y.
42 Broadway
1
Cheyenne, Wyo.
304 Federal Office Bldg.
9
10
Oklahoma City 2, Okla.
102 NW. Third St.
Chicago 4, 111.
332 S. Michigan Are.
No. 3
MARCH 1949
PAGE
THE BUSINESS SITUATION
Industrial Composition of National Income in 1948 . .
Recent Changes in Consumer Credit
International Transactions by Major Areas, Third Quar-
ter 1948
.
12
Cincinnati 2, Ohio
105 W. Fourth St.
Cleveland 14, Ohio
925 Euclid Ave.
Dallas 2. Tex.
1114 Commerce St.
SPECIAL ARTICLE
International Transactions During 1948
NEW OR REVISED STATISTICAL SERIES
Production-Worker Pay Rolls in Manufacturing
Value of Manufacturers' Inventories, 1939-45 .
14
Detroit 26, Mich.
230 W. Fort St.
19
20
MONTHLY BUSINESS STATISTICS ; . . . S-l to S-40
Statistical Index
Inside Back Cover
Published by the Department of Commerce, C H A R L E S S A W Y E R ,
Secretary. Office of Business Economics, M. JOSEPH MEEHAN,
Director. Subscription price, including weekly statistical supplement, $3 a
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ment of Commerce Field Office or to the Superintendent of Documents,
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Make check payable to Treasurer of the United States
Denver 2, Colo.
828 Seventeenth St«
El Paso 7, Tex.
310 San Francisco St.
Hartford 1, Conn.
135 High Si,
Houston 14, Tex.
602 Federal Office Bldg.
Omaha 2, Nebr.
1319 Farnam St.
Philadelphia 2, Pa.
42 S. Fifteenth St.
Phoenix 8, Ariz.
234 N. Central Ave.
Pittsburgh 19, Pa.
700 Grant St.
Portland 4. Oreg.
520 SW. Morrison St.
Providence 3, R. I.
24 Weybossett St.
Reno, Nev.
118 W. Second St.
Richmond 19, Va.
801 E. Broad St.
St. Louis 1, Mo.
1114 Market St.
Jacksonville 1, Fla.
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Salt Lake City 1, Utah
350 S. Main St.
Kansas City 6, Mo.
911 Walnut St*
San Francisco 11. Calif.
555 Battery St.
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125-29 Bull St.
Louisville 1, Ky.
631 Federal Bldg.
Seattle 4, Wash.
909 First Ave.
For local telephone listing, consult section
devoted to U. S. Government
MARCH 1949
I
rerbonai mtum*? «?ummuiy
%
%
(SEASONALLY ADJUSTED, AT ANNUAL RATES)
...
BILLIONS OF DOLLARS
^ Personal
^ income in
^ January
% remained
^ at the
p December
^ peak.
200
m^
1 1 1 1 1 1 II
1 ! 1
II
^
6
$
PRIVATE WAGES
^
AND SALARIES ^^^
!
1 1 1 1 i 1 I 1 1 1 1
fy while
^ government
j| pay rolls
^
holH Tirm
-firm
^% neia
120
~ \
II
M 1 1 1 1 1 1 1 1 1
1 1 1 1 1 1 1 1 1 1 1
1 1 I I 1 1 1 1 I 1 1 1 1
."1
•-I.
.1
60
r
^ and other
^ types of
^ income were
^ steady or
| higher.
^~t**J*****~ ****
^^^^ PROPRIE TORS ' AND
RENTAL INCOME
-
40
INTEREST AND
/ DIVIDENDS
A
i
i
%
1
GOVERNMENT WAGES
AND SALARIES
j
<•
1
1
%
^
xx/
/x/
i
^
w
'//.
1 1 1 1 1 1 1 1 1 1 1
M
1947
^
i
p
.|
1
1
,20
,40
Private
pay rolls
were
lower
TRANSFER PAYMENTS**'*
* WCi^f5 Or//f/? i»50/? ,NCOUE
W////M^^^^^
826239—49
1
1 1 1 I 1 1 1 1 1 1 1 1 1
1948
*
THE
w
K i^^^
! 1 1 1 1 1 1 1 1 1
%
%
" iii
TOTAL PERSONAL ^
INCOME
J
|
^
^
J
^
p
1949
o
i
p
%
SITUATION
By the Office of Business Economics
JL OT AL output of goods and services and the flow of income
from their production were running at a high rate in the
first 2 months of 1949, though there was some easing in the
pace of activity from the postwar peak of the fourth quarter
of 1948. The pressure of aggregate demand has diminished
somewhat; however, certain segments of the economy—the
metals in general and steel in particular—continued to reflect
large unsatisfied demands. The accompanying chart on
personal income shows that although significant shifts
occurred in'major components in January, the net effect on
the total was slight.
Sorne slackening in consumer expenditures has occurred,
as evidenced by the trend of retail sales. Private investment outlays continue at about the same level as in the final
quarter of last year, except for a reduction in the amount
of inventory accumulation. Available data indicate that
expenditures on producers durable equipment have been
running at about the same rate as they were in the second
half of 1948, after seasonal correction, and have been higher
than in the early part of 1948. On the expansion side are
increasing Government expenditures for defense and foreign
aid. In addition, Government loans to farmers under the
agricultural price support program continue at a high rate,
and these have been important in sustaining farm income.
The diminution in aggregate demand—reflecting in part,
as noted above, a reduction in inventory accumulation from
the high rate in the fourth quarter last year—has resulted in
a greater-than-seasonal decline in employment and a rise in
unemployment. Part of the shift in employment patterns
mirrors the reappearance of more normal seasonal fluctuations which were submerged in the earlier years of the postwar boom by the rising tide of investment and consumption.
Total civilian employment nevertheless was about as high
in February as it was in the corresponding month of 1948.
Although adjustments by individual industries to a more
normal supply-demand relationship have been more numerous than in 1948, there were still a number of important
industries—outstanding examples are steel and automobiles—
where activity has been moving up, so that aggregate industrial output has changed very little. The steel industry,
under continued pressure of demand, has operated at peak
capacity—slightly above 100 percent of rated capacity for
the first 10 weeks of the year. The automobile industry,
with model changes nearing completion, and aided by the
availability of larger quantities of steel, has moved its production close to 115 thousand units a week in the early weeks
of March.
Wholesale prices so far in 1949 have averaged somewhat
lower than in the final quarter of 1948, reflecting in the main
the reduction of farm and food prices. Prices of other
SURVEY OF CURRENT BUSINESS
commodities on the average have shown little change so far
this year. The immeasurable changes in quality continue
and at the retail level not only have there been noticeable
improvements in service that accompany more competition
for the consumer's dollar but, in addition, store-wide sales
have become increasingly common.
Insofar as the consumer price index is concerned, there
have been small declines in food, apparel, and housefurnishings. The pressure upon rents is still restrained by control
legislation which is currently up for extension in Congress
beyond the March 31 expiration date.
Personal income unchanged in January
March 1949
were especially heavy during the first 2 months of 1949 for
two reasons: First, the large crops harvested in the latter
part of 1948; second, the more rapid sale of these crops
than in other years. It is apparent that a portion of the
crops which would normally be sold in later months of the
year is being placed under loan at an earlier date.
Little change in production
Industrial production during the first 2 months of the year
was but slightly lower than the peak reached last autumn.
The Federal Reserve seasonally-adjusted-production index
was 191 (1935-39=100) in January down 1 point from
December, a decline of a little over 2 percent from the
October-November high point. Nondurable-goods production was somewhat higher than a month earlier while durable
goods eased off slightly. Minerals production, on the other
hand, showed a larger drop as crude petroleum operations
declined. Daily output of bituminous coal was maintained
at the December rate.
The flow of personal income affords a comprehensive
summary of the impact of the various adjustments which
have been taking place in the economy. Despite the greaterthan-seasonal declines in employment and hours worked in
a number of industries^ income payments in January were
maintained at the high rate attained at the end of 1948.
The trend of total personal income is shown in the top panel
Chart 2.—Production and Capacity of Steel Ingots and
of the chart on the preceding page to have been at an annual
Steel for Castings
rate of 221 billion dollars after adjustment for seasonal
factors.
THOUSANDS OF SHORT TONS
Private wages and salaries declined 1.7 billion dollars at
300
an annual rate from December as reduced employment and
CAPACITY, JAN. I EACH YEAR
shorter hours in manufacturing and transportation more than
250 offset the very slight increase that occurred in average rates
of pay. On the other hand, Government wage and salary
receipts held steady between December and January.
200 The largest increase in income occurred in proprietors' and
rental income, illustrated in the bottom panel of the chart.
150 Here the rise was concentrated in agriculture, where an expansion in marketings, including the commodities placed
under Government loan, more than offset a further decline
100 in livestock prices. Income of nonfarm proprietors was
lower while interest and dividend payments were up. slightly.
The increase in transfer payments which took place during
the month was chiefly a reflection of higher unemployment
compensation. While this results from lessened employment
opportunities, the payments have acted as an important
1944
1947
1948
1949
DAILY AVERAGES
cushion against the loss of wages and salaries entailed by
the lay-offs which occurred in the mid-winter months.
Nonagricultural income, not shown on the chart but pre1
Daily average capacity obtained by dividing the "Total Capacity" reported on January 1
each year by 365 days.
sented in the table on page S-l, was at an annual rate of
2 In computing the daily average production for 1944 no allowance was made for any'
195.7 billion dollars in January, 1.7 billion dollars below
holidays; for 1947 and 1948 allowance was made for July 4th and Christmas.
December but 11.4 billion dollars higher than January 1948.
Source: Basic data, American Iron and Steel Institute.
Supports bolster farm income
The movement of farm income is of particular interest in
view of the substantial declines which have occurred in farm
prices during the past year. Although prices received by
farmers in January, of 1949 were 13 percent lower than the
peak reached 12 months earlier they still averaged 8 percent
above parity, and cash farm income was about the same.
This maintenance of farm income reflects an offsetting expansion in farm marketings, including a substantial volume
of commodities placed under Government loan. The importance of the loans is indicated by the fact that out of
total cash receipts from the sale of crops of 1.3 billion dollars in January, about 20 percent represented a net rise in
outstanding loans, whereas in January of 1948 the rise in
loans represented only about 2 percent of crop receipts.
Prices paid by farmers for all commodities used in production in January averaged fractionally lower than a year
earlier so that with cash income maintained, the net income
of farm proprietors was a little higher. Preliminary indications suggest that farm income in February was higher
than it was in February 1948. Marketings of farm products
Preliminary data for the month of February indicate
little, if any, change from the January rate in over-all manufacturing activity.
Evidence is increasing that some general easing of the
pressure upon producers is occurring. Fewer industries
have shown rising trends of output this year and the industries with declines are more numerous than in 1948; yet, it
1
is clear from the movement of the over-all index that the
industries with rising or stable trends are of more-thanaverage importance. Out of 18 major components comprising the Federal Reserve index, 7 industries operated in
January at a higher rate than in December and 6 were
higher than in the same month a year ago.
Steel production, as earlier noted, has been maintained
at an exceptionally high rate.
In the automobile industry, model change-overs in Januarj*
at some plants kept assemblies of cars and trucks about
3 percent below the daily average rate in December. More
recently, assembly operations have moved higher and output
is expected to reach a new postwar peak in this current upswing. Backlogs in this industry are still large.
SURVEY OF CURRENT BUSINESS
March 1949
Somewhat lower activity was also reported for the machinery, furniture, and stone, clay, and glass industries in
January. The decline in lumber production reflected in
large part lessened demand pressures and unfavorable
weather conditions, chiefly in the Pacific Northwest.
In the case of consumer-durable goods other than automobiles, complete data for January are not available but
information at hand for a number of products indicates a
continuation of the lowered rates of output which began in
mid-1948. Electric refrigerators,
however, were an exception as manufacturers7 shipments expanded sharply and
virtually equalled the best postwar month. On the other
hand, the number of radios (excluding television receivers),
vacuum cleaners, and automotive replacement batteries
produced dropped over 15 percent from the previous month
and by an even greater percentage from January a year ago.
Output of washing machines showed little change from
December but w was 50 percent below 1948. In the case of
television receivers a small decline in output was not significant since demand for these sets continues large.
Among the nondurables, January advances in the textiles,
leather, tobacco paper, and printing and publishing groups
counterbalanced the declines in output of refined petroleum,
chemical, and rubber products. The improvement in textile
mill activity was largely the result of the post-holiday
recovery in the consumption of raw cotton from the relatively low volume of the preceding month. Despite this
seasonal rise, however, mill takings of raw cotton were
nearly one-fourth below January a year ago and, with two
exceptions, were the lowest for any month since September
1940.
Steel output at annual rate of 96 million tons
Highlighting the production performance since the turn
of the year has been the record rate of operations in the
basic steel industry (see chart 2). In the first 10 weeks of
this year, the steel mills operated at an average of slightly
over 100 percent of rated capacity, thus equalling the wartime record for sustained operations at or above theoretical
capacity.
In January, nearly 8.2 million tons of steel ingots and castings were produced. This represented a gain of 200 thousand tons over the previous record established in October
1948, and 700 thousand over January 1948, when annual
capacity was about 2 million tons lower than at present.
Because of the shorter month, output in February was
approximately 7.5 million tons, making a total of 15.6 million
tons for the 2 months, or about 1.2 million tons higher than
in the comparable period a year ago. This rise has, of
course, eased the supply position for a variety of steel users.
On a daily average basis, the January-February output wras
equivalent to an annual rate of 96 million tons.
Lower employment
The labor market was somewhat easier in the opening
months of 1949 because of the combined influence of seasonal
factors in some industries and readjustments to a lower level
of demand in a number of manufacturing activities.
Civilian employment at 57.2 million in February, was
lower than it had been in recent months, but was about the
same as a year earlier (see chart 3). Meanwhile, unemployment which had remained under the 2 million mark
during the last 5 months of 1948, rose to 3.2 millions in February. With job opportunities less plentiful, labor turn-over
decreased, and there was some evidence of slackening in the
growth of the labor force.
Nonagricultural employment as a whole dipped slightly
below February 1948; most of the decrease is attributable to
reductions in both durable and nondurable manufacturing,
Chart 3.—Civilian Labor Force and Employment Trends
MILLIONS OF PERSONS
INDEX, 1946 = 100
120
100 - TOTAL CIVILIAN LABOR FORCE
EMPLOYMENT
MANUFACTURING
(SEASONALLY ADJUSTED)
100
80 -
80
140
EMPLOYMENT
(SEASONALLY ADJUSTED)
CONSTRUCTION
120
NONAGRICULTURAL EMPLOYMENT
100
GOVERNMENT*
1 I I I I I I I I I I M I 1 I t I I M I I I I I I I I M M I I I f 80
L
g|
1946
194X
1948
1949
1946
1948
1949
U. 5. DEPARTMENT OF COMMERCE* OFFICE OF BUSINESS ECONOMICS*
1
Includes the industries shown in panel below and others.
Sources of data: Civilian Labor Force, U. S. Department of Commerce, Bureau of the Census; employment trend indexes, computed by U. S. Department of Commerce, Office of Business
Economics, from seasonally adjusted employment data of the Board of Governors of the Federal Reserve System.
SUEVEY OF CURRENT BUSINESS
and to a lesser extent in coal mining and railroad transportation.
Seasonal change in construction
Construction activity in the first 2 months of the year
reflected the usual mid-winter contraction; in dollar terms
the total value of construction averaged 1.2 billion dollars,
which was about 10 percent higher than in the corresponding
months of 1948. Most of the increase over last year was in
public construction while the private components were
generally only fractionally higher. Private residential
construction, which constituted almost 50 percent of the
private total, averaged 460 million dollars in January and
February—a fractional increase over the corresponding
months in 1948.
Although total residential starts have declined steadily
during the past 8 months, rental-type housing starts are
likely to increase in the near future. As table 1 shows,
there has been a substantial increase in applications for FHA
insured mortgages on rental housing since the reenactment
and liberalization of that portion of the National Housing
Act in August 1948. The January rate of 22,500 units
under the rental housing section 608 has been exceeded only
once in the past 2 years—November 1947. Preliminary
data for February indicate a continuation of this upturn in
applications for rental building.
March 1949
influences, were about 4 percent below the very high rate of
December and about 3 percent below the fourth quarter
level. The drop in the nondurable-goods stores was 3
percent. In the durables, the decline was larger, but this
was partly the result of the model change-over by some of
the larger automobile producers, which limited receipts oi*
new cars by dealers.
Retailers carried on active sales promotions and reduced
prices in a number of lines, particularly apparel and housefurnishings. The Bureau of Labor Statistics consumers'price index in January was 2 percent lower than in December
for apparel and 1 percent lower for housefurnishings. Although these price changes are small, they are the most
noticeable declines which have occurred in these areas in
the postwar period. For example, a year earlier, despite
winter mark-downs both apparel and housefurnishings prices
rose between December and January.
Apparel sales in January showed a favorable response to
these price cuts but in the case of housefurnishings, sales
declined during the month. Slackened demand for consumer
appliances contributed to the decline in the general-merchandise group.
The relationship between consumer purchasing and consumer credit, including the recent relaxation of controls
early in March, are considered in some detail in a separate
section further on in this issue.
Stocks, Sales, and Orders
During a period of adjustment the changes taking place in
business inventories and new orders are of special signifi[Thousands]
cance.
The book value of total business inventories stood at
FHA
applications
(new
units)
Permanent non- Total
54.2
billion dollars at the end of January, about 165 million
farm i
FHA
Small
Period
Rental
dollars
higher than the year-end figure. During January
dwelling starts
homes,
type
units
Total
1948 total inventories rose over 1 billion dollars, but it
1-4 fam- multistarted
family
ily
should be remembered that prices were rising rapidly then
in contrast to the recent movement.
228.8
423.6
283.8
849.0
139. 7
1947 total
The inventory change represented diverse movements.
928.0
369.6
291.0
287.7
1948 total
..
82.0
52.6
60.8
79.0
January
22.7
18.2
Manufacturers' stocks were up 230 million dollars, as com49.6
16.8
54.3
37.4
February
16.9
March
_
75.1
30.1
45.0
33.0
11.9
pared to the rise of almost half-a-bUlion last year, and most
98.8
April
35.5
24.6
20.1
4.5
of the present rise was seasonal in nature. Wholesalers'
99.4
15.1
May
28.7
15.0
(2)
97.5
30.2
18.8
18.8
o
June .
_ inventories rose almost a quarter of a billion, a little less than
93.5
July
29.6
19.3
19.3
0
86.3
17.8
16.6
August
22.7
1.2
the increase a year previous. Retail stocks, however, de82.2 • 20.2
22.1
September
5.1
17.0
clined about 300 million dollars, most of this being seasonal;
October
_.
_ _
19.4
24.8
17.8
72.0
7.0
November
_
17.4
24.3
65.0
17.3
7.0
last year at this time stocks rose by an equal amount.
December
. __
17.2
24.6
14.5
56.0
10.1
1949:
In manufacturing, the inventory rise was concentrated
January _
_
12.6
14.6
22.5
50.0
37.1
wholly in the durable-goods group, and it was somewhat
greater than the typical early winter advance. The stable
1 Nonfarm starts include for the year 1948 about 2 percent of public starts. In January
1949 this component increased to about 8 percent. '
level of stocks in nondurables represents a small decline on a
2 Less than 50 units. Detail may not add to totals due to rounding.
seasonally adjusted basis. As has been true, especially
Sources: U. S. Department of Labor, Bureau of Labor Statistics, and Housing and Home
since last fall, most of the inventory rise between December
Finance Agency, Federal Housing Administration.
and January was in finished goods but the accumulation was
The recent small declines in construction costs have facililess than in the same
period in 1948.
tated this rental development by making possiblefirmcomManufacturers7 sales declined about 1.3 billion dollars
mitments by contractors regarding total costs of rental-type
from December to January. More than half of this reprehousing projects. This cost uncertainty has been one of
sented the usual winter slowdown in shipments. Both
the important impediments to the long-run planning indurable and nondurable groups contributed to the decline.
volved in these larger projects.
Table 1.—Total Permanent Nonfarm and FHA Starts and FHA
Applications
Retail trade easing
Consumer purchasing has undergone a moderate decline,
mostly in the nondurable-goods lines. Part of the dollar
decline represents lower prices. Department-store sales for
the month of February declined on a seasonally adjusted
basis for the second successive month and were 4 percent
below those of a year earlier.
For the month of January all retail store sales, after
adjustment for the number of trading days and seasonal
Little inventory build-up at retail
An interesting phenomenon in recent months has been the
relatively small growth in retail inventories. This has occurred at a time when retail sales have changed relatively
little, manufacturers' stocks of finished goods have bef~
showing a persistent upward movement, and employment *u
the manufacturing level has been edging off. Certain aspects of these trends are illustrated in charts 4 and 5. The
left panel of chart 4 shows stocks, sales, and receipts of goods
by 296 large department stores reporting to the Federal
SURVEY OF CUREENT BUSINESS
March 1949
Chart 4.—Stocks, Sales, Receipts, and Orders,
296 Department Stores
MILLIONS OF DOLLARS
MILLIONS OF DOLLARS
1,250
1,200
STOCKS
(END OF MONTH)
1,000
\
OUTSTANDING ORDERS
(END OF MONTH)
SALES
^ RECEIPTS U
1948
'49
I I I I I I I I I I I
1947
1948
U. S. DEPARTMENT OF COMMERCE, OFFICE OF BUSINESS ECONOMICS
1
Receipts equal sales plus inventories at end of month, less inventories at beginning of
month.
2
Net new orders equal outstanding orders at end of month, less outstanding orders at
beginning of month, plus receipts.
Sources of data: Stocks, sales, and outstanding orders, Board of Governors of the Federal
Reserve System; receipts and net new orders, computed by U. S. Department of Commerce,
Office of Business Economics, from Federal Reserve Board data.
Reserve; the right panel shows new orders placed and outstanding orders for the same stores.
Beginning about midyear 1948, the trend of departmentstore sales (adjusted), which had been rising up to that
time, first leveled off and then registered a decline. Meanwhile, inventories have not grown appreciably. For this
group of stores, stocks at the end of January were about the
same as they had been at the end of January 1948. The
stock-sales ratio for the 296 stores, which may be considered
representative of all department stores, was approximately 3
for the month of January, about unchanged from January 1948.
Because of the leveling in retail sales, as well as the
uncertainty over the price and sales outlook, department
stores and other retailers handling apparel and housefurnishings have been following very conservative inventory
and buying policies. This is further illustrated in the data
on new and unfilled orders. Outstanding orders have shown
a downward trend since mid-1947; at the end of January 1949
outstandings were 40 percent lower than those at the end of
January 1948. The ratio of outstanding orders to sales—
1.5 for the month of January 1949—compares with a ratio
of 2.3 for January 1948 and in fact was at the lowest point
for any January since the prewar period. New orders
placed have been relatively low throughout 1948. The
effect of the low level of ordering is seen in the fact that
goods received in the 3 months ending in January 1949 were
13 percent below those received in the same period the year
before.
Price developments have obviously played an important
role in the cautious buying policies of retailers. Where
prices have been declining, as in the textile and clothing
industries, purchasing has been influenced by this fact; and
in fields where prices have ceased rising, even though they
have not declined, the incentive for forward purchasing has
been reduced.
Chart 5 reflects in part the impact of conservative retail
buying policies upon manufacturers7 stocks and sales in particular industries. In the lower part of the chart are shown
sales and finished goods inventories of manufacturers in
selected industries closely related to goods sold in departmnet
stores—namely, textiles, leather, apparel, and furniture.
S^Jes and finished goods inventories of all manufacturers
are shown in the upper part of the chart by way of contrast.
As the chart shows, the trend of sales in the 4 selected industries has been downward over the past year. In the last
quarter of 1948, for example, sales were 6 percent lower than
in the final quarter of 1947.
Inventories of finished goods have continued to rise—
finished garments in the case of apparel manufacturers, whose
reduced demand for fabric has been one of the reasons for
reduced operations and accumulation of finished goods in the
hands of textile mills, especially in the past few months. In
the case of all manufacturing industries the trend of finishedoods inventories has also been upward but the rise has not
een so pronounced as in the smaller group, while sales have
been edging up slightly. For manufacturing industry as a
whole the relationship between finished stocks and sales at
the end of 1948 did not appear to be excessive in terms of
prewar standards.
What is suggested here is that the burden of the recent
accumulation of finished stocks in some of the consumergoods lines has fallen on manufacturers and to a lesser extent
on wholesalers, rather than on retailers by virtue of the conservative purchasing policy followed by retailers. An involuntary build-up of finished-goods stocks reflects the fact
that manufacturers do not reduce their operating schedules
immediately when a cut occurs in customer takings. However, the lag is usually short, and production is adjusted
fairly promptly to the actual rate of shipments. Adjustments of this nature have been a factor in the cutbacks in
output in numerous lines during recent months.
f
i i i i t f i i . , i h i i i i h i » ii li i
1947
Increase in manufacturers* finished-goods
inventories
Chart 5.—Manufacturers9 Sales and Inventories
RATIO SCALE
BILLIONS OF DOLLARS
ALL
20.0 -
MANUFACTURING INDUSTRIES
TOTAL SALES .
FINISHED GOODS INVENTORIES
I END OF MONTH) «w
SELECTED CONSUMER GOODS INDUSTRIES
TOTAL SALES
FINISHED GOODS INVENTORIES
(END OF MONTH)
.
.8
.7
1947
1948
1949
/ S. DEPARTMENT OF COMMERCE, OFFICE OF BUSINESS ECONOMICS.
* Includes textile, apparel, leather, and furniture industries.
Source of data: U. S. Department of Commerce, Office of Business Economics.
SURVEY OF CUBEENT BUSINESS
In summary then, and viewing the trend of inventories of
nonagricultural business as a whole, it may be said that so
far in 1949 there has been a definite slowing in the high rate
of inventory accumulation that characterized the final
quarter of last year. But increasing inventories were still
a factor in the volume of investment.
January orders at December rate
The relationship between new orders and manufacturing
output is much more direct at the present time than was the
case a year or more ago when backlogs were higher. THus,
a decline in new orders in the latter part of 1948 has been
reflected in the recent easing in industrial activity in many
lines. It is noteworthy then, that new orders received in
January (see chart 6) were about the same as in the preceding
month.
Chart 6.—Manufacturers' New Orders 1
INDEX, 1939« 100
350
DURABLE GOODS
INDUSTRIES
250
NONDURABLE GOODS
INDUSTRIES
I I I I I I I I I I I I I I I I I I I I I I I I I I I I
1947
Unfilled orders for durables tending downward
Although new business was only moderately lower than a
year ago, most of the durable-goods industries were cutting
into their backlogs, which had been of considerable size at
the start of 1948. Supplies were much easier and delays in
shipping goods on order were being reduced. Some part of
the shrinkage in unfilled orders undoubtedly reflected a
lessening of the tendency to place duplicate orders.
For three major durable-goods groups—iron and steel,
electrical machinery, and machinery other than electrical —
a comparison was made of ratios of unfilled orders to sales
in January 1949 and 1948 for identical companies. It was
found that there was a consistent decrease of about 20 percent in each of the three groups. However, the greater part
of this decrease had taken place before the end of last summer, and there has been comparatively little change since
that time.
The demand for railroad equipment has represented an
important area of strength although the order backlog has
been reduced over the past year or so. The importance of
this demand is evidenced by the fact that in 1948 indicated
expenditures by class 1 railroads for rolling stock amounted
ALL MANUFACTURING
INDUSTRIES
U.S. DEPARTMENT OF COMMERCE,
new orders in January were about 20 percent below early
1948 values.
January new orders in the apparel and leather products
industries, on the other hand, were nearly equal those placed
early last year when there was also uncertainty in soft goods
markets. Furthermore, leather companies appear to have
increased their ratio of unfilled orders to sales over that of
last January.
Railroad equipment backlogs
•<••••<•....•'•...„/
IOO
March 1949
1948
Chart 7.—Railway Equipment: Shipments and New and
Unfilled Orders for Domestic Use
1949
OFFICE OF.BUSINESS ECONOMICS.
RATIO SCALE
THOUSANDS
* Does not include transportation equipment, printing and publishing, and miscellaneous
industries.
Source of data: U. S. Department of Commerce, Office of Business Economics.
Though unchanged from the preceding month, the dailyaverage rate of new business placed with manufacturers during January was about 5 percent below a year ago. During
the last quarter of 1948, orders also had averaged about 5
percent lower than the values 12 months earlier (see
chart 6).
New orders placed with the durable-goods industries increased some 3 percent in January over,the December rate.
The rise, however, did not fully restore the aggregate of incoming business to the year-ago value. The January gains
were widespread among the durables, and only the nonferrous-metal group reported a decline in new business.
There was a continuation in January of the tendency in
recent months for the nondurable-goods industries to show
less strength than the* durables. A 2-percent drop in January orders for the nondurable group extended the decline
from the September peak to a point nearly 10 percent below
a year ago. Eoughly half of the drop in dollar values since
early 1948 is attributable to lower prices currently being
quoted for many nondurable goods.
Orders for "soft goods" are frequently filled within the
month—often from stock. Thus, the smaller volume of
goods ordered from manufacturers this year is to some extent
reflected in their January sales. Of the industries where new
orders represent forward commitments rather than current
sales, the largest declines in new business over the last 12
months occurred in textiles and paper. For these groups,
RAILWAY FREIGHT CARS
UNFILLED ORDERS
(END OF MONTH)
1
2
*».,^s«-«*
,^
RAILWAY PASSENGER CARS
—\
Shipments for January, April, and May 1946 include total deliveries of 878 military cars.
Data are 3-month moving averages centered at the middle month.
Source of data: American Railway Car Institute.
March 1949
SURVEY OF CURRENT BUSINESS
to 920 million dollars, an increase of about two-thirds over
1947, and in the first quarter of 1949 they are expected to
total nearly 300 million dollars.
An analysis of the demand for freight cars during the interwar period reveals a close relationship between the trend of
carloadings and the new freight-car orders placed by railroads. The recent declines in new orders placed for freight
cars have occurred during a period in which the year-to-year
trend in carloadings has been downward. Although the
carriers §till possess a large fleet of freight cars which are
older than the typical retirement age in the prewar period,
their demand for new freight cars will be affected by the
trend in carloadings and in earnings.
The rate at which backlogs for railway freight and passenger cars for domestic use have been declining in the past
12 months is illustrated in chart 7, which also provides a
comparison of monthly shipments and new orders. The in-elusion of equipment figures for exports would not materially
alter the recent trends since exports have been unimportant
in the case of passenger cars and ^ere important for freight
cars only in 1946 and in the first half of 1947. In 1948 when
domestic demand for cars was very high, new orders for
foreign account were accepted to a total of only 400 freight
cars and shipments were less than 1,600 units.
It will be seen that*the volume of new orders for freight
cars continued on a relatively high scale for a period of about
twx) years, from mid-1946 to mid-1948. During this period
incoming orders ranged from a low of 4,500 units in November 1946 to a peak of 14,500 units in March 1948, and averaged 10,000 cars per month. Following the March high
Eoint, however, new orders moved down sharply and since
ist July they have averaged somewhat over 5,000 units per
month despite the pick-up in November. In January and
February of this year they dropped to less than 1,000 per
month.
In 1947, new orders exceeded shipments by a considerable
margin and backlogs thus increased. In 1948, however, the
reverse was true as shipments were substantially in excess
of new orders in all but 3 months. As a result, carbuilders
were able to cut rather deeply into their backlogs—from a
high of 135,000 units in April 1948, to 86,000 at the end of
February 1949. Unfilled orders for freight cars have dropped
from the April 1948 high point when they represented 13
months' shipments to 8% months' shipments at the February 1949 rate.
•
2-year backlog of passenger equipment
A similar development, although somewhat less pronounced, has been experienced by builders of railway passenger equipment. In contrast with the situation in freight
cars, when sizable order-placing lagged until well into 1946,
large orders for new passenger cars were placed by the railroads immediately after the war with the result that the
volume of business on the books of carbuilders at the beginning of 1946 was the highest since 1914. The bulk of
this order-placing reflected the modernization of equipment
and the shift to high speed articulated deluxe passenger
trains.
In 1945, aggregate orders totaled nearly 3,000 cars, of
which 1,700 consisted of military-type cars. Of the 1,300
units ordered by railroads for civilian use, almost 800 were
placed in the last 4 months of the year. In 1946, new business placed continued at a high level although the rate
dipped to 100 per month which was followed by a sharp
drop to 26 in 1947 and a moderate recovery to 42 in 1948.
However, in the latter part of 1948, new orders fell very
sharply.
Concurrent with this decline, shipments have been maintained at a monthly rate of 72 units—not large in relation
to the backlog even though it was double the rate of incoming business in the past two years. Thus, order backlogs
have declined steadily, being reduced substantially from the
peak in late 1946. Despite the reduction, the volume of
unfilled orders at the end of January 1949 remained large
and represented nearly 2 years' production at the January
rate of deliveries.
In the cas§ of locomotives, satisfactory data for new
orders and shipments are not available but information on
unfilled orders is presented in chart 8. It should be pointed
out that while the figures include only locomotives on order
for class 1 railroads, it is believed they represent all but
a small portion of the total. Furthermore, the data are
Chart 8.—Locomotives: Unfilled Orders, End of Month,
Class I Railways *
RATIO SCALE
NUMBER
4,0001
3,000
2,000
1,000
900
80O
700
600
500
400
300
PQfJ
I 1 1 1 I ! t
1946
I I
I I
1
1I I
I I I I I
1
t
t
t
J 1
1947
V S DfPAflTMCNT Of COUM£RC£. Off ICC Of BUSINESS ECONOMICS
i Data include steam, electric, and Diesel-electric locomotives.
Source of data: Association of American Railroads.
counted in terms of locomotives which in the case of Dieselelectrics may include one or more operable units.
It will be noted that unfilled orders after rising sharply in
the first two postwar years have tended to level off in the
past 12 months at around 1,600 units. This is the highest
level of backlogs since July 1923, when they totaled 1,772.
In the past year, the number of locomotive installations on
class 1 railroads has risen sharply but despite this there has
been very little change in the backlog position of manufacturers. In this connection, it is perhaps interesting to
point out that of the current volume of unfilled orders,
approximately 1,490 represented Diesel-electrics and 73
steam, whereas in 1923 they consisted entirely of steam
locomotives.
Little net change in prices
The general level of wholesale commodity prices, which
had shown a steady downdrift during the 6 months ending
in January flattened out during February and early March.
The comprehensive index of wholesale prices compiled by the
Bureau of Labor Statistics was 159 (1926=100) at the
beginning of March, unchanged from a month earlier, but
down 6 percent from the peak reached last August.j This
temporary stability of prices as a whole represents a continuation of the divergent movement which characterized
the latter half of 1948; it reflects the simultaneous upward
and downward adjustments in supply-demand relationships
which have been taking place.
8
SURVEY OF CURRENT BUSINESS
The prices of commodities other than farm and food
products averaged fractionally lower at the end of February
than a month earlier, and were about the same as at the
year end. Although farm and food prices ^continued to
decline in January and early February, there was some
recovery in grain and livestock prices during the latter part
of February.
In the grains, where prices had slipped below support
levels, the renewal of Commodity Credit Corporation purchasing for shipment abroad was reflected in a rise in the
wheat price above the loan rate at the end of February.
The corn price was still below support, but the trend was no
longer downward as temporary factors, such as lack of
storage space and high moisture content—which had impeded CCC operations in granting loans—were not so important as previously. In livestock, where support operations
have not been required despite important price declines,
prices had also begun to move upwards in the latter half
of February as the seasonal reduction in livestock marketings developed.
Some industrial prices lower
Reduced demand for a broad variety of commodities has
been accompanied by price reductions, especially in the softgoods areas where finished-goods inventories were rising at
the close of 1948. Lower prices were posted in January and
February for cotton goods and clothing, rayon yarn and woven
goods, fuel oil and gasoline, fats and oils, and industrial
alcohol. Prices of metals and their products, on the other
hand, have generally remained firm or have advanced in some
instances, though premiums above quoted prices have been
reduced or eliminated in recent months. The 4 to 6 percent
interim increase in freight rates granted on December 30,
1948, was reflected in higher quotations during February for
pig iron and a number of steel products.
While the price of metals and their products has been the
primary area in which additional advances have been made
in recent months, there were some indications in the opening
quarter of the year that pressures on metal prices were not
uniformly upward. During February, prices of remelt
aluminum, brass, and bronze ingots were reduced, and early
in March two of the larger producers of primary lead lowered
prices 2 cents to 19.5 cents a pound, the level prevailing last
summer. Scrap metal prices of all types have been generally
lower thus far in 1949.
emerged which explain the sharp drop in steel scrap prices.
Scrap supplies were steadily augmented in 1948. Chief
factors enlarging supplies were the accelerated scrap collections during the mild winter of 1948-49 in the eastern part
of the country and a sharp rise in imported scrap materials.
Also, the gradual satisfaction in 1948 of the shortages in
many of the consumer and producer durable goods began
to permit a return to the higher scrappage rates of such goods
which had been customary in the prewar period.
These growing quantities of scrap and pig iron eased
pressure on prices of steel scrap which in 1947 and part of
1948 was selling above pig iron, contrary to the usual
historical relationship. As 1948 progressed, steel producers
added to their scrap inventories. At the end of November
1948, stocks of steel scrap held by consumers amounted to
5.8 million tons, or 30 percent above the previous November,
and the largest accumulation hi 5 years. Nearly all of the
increase in steel scrap stocks represented purchased scrap.
Thus, the improved inventory position of steel scrap consumers at the end of 1948 reduced the urgency of their demand
for additional scrap supjmes and provided the setting for
the sharp decline of steel scrap prices during the early
months of 1949.
Nonferrous-scrap prices decline
The downturn in steel-scrap prices has also extended to
nonferrous-scrap materials. As shown in table 2, the extent
of the price fall has varied considerably for the various types
of scrap materials, ranging from sharply lower prices for
aluminum, brass, and lead scrap to more moderate declines
in copper and tin scrap. Some of these declines have preceded lower prices for finished materials, as in the case of
brass and bronze ingot prices and in remelt aluminum ingot
prices—all of which were reduced in February. These price
declines followed reductions in production schedules for
some types of lead and brass products using scrap materials.
Demand for primary metals thus far in 1949, however, has
continued strong enough to maintain prices at previous
levels, with the exception of lead.
Table 2.—Dealers' Nonferrous-Scrap-Metal Prices, at New York
[Dollars per ton]
Brass
ingot Heavy
Heavy No.
1
lead
copper composition
Period
Lower scrap prices
Since scrap metal prices are generally more sensitive to
supply-demand changes than prices of primary metals, an
analysis of developments in scrap metals is often useful in
gauging both price and production prospects of the primary
metals. Weakness in nearly all scrap metal markets developed by the beginning of 1949, but different factors were
responsible for these declines.
Prices for heavy melting steel scrap at Chicago fell from
the 1948 high of $41.75 per ton at the end of December to
$34.50 at the end of February. This decline of almost a
fifth in steel scrap prices has led to speculation as to whether
some basic alteration has occurred in the demand for steel
which has led procedures to bid less vigorously for scrap.
Consumption of steel scrap, however, has been advancing
sincft the July 1948 low point, when steel operations were
affected by vacations. In November 1948—the latest
month for which data are available—steel scrap consumption
at 5.6 million tons was 9 percent over November 1947, with
heavier volume in both home and purchased scrap contributing to the rise. Peak steel operations in the first
quarter of 1949 suggest continued high scrap consumption
rates. Meanwhile, various factors on the supply side have
March 1949
1946 _
1947
1948
.
1948:
January
February
March
April
May
JuneJuly
August _ _.September
October
November
December
1949:
January
February. _
New
zinc
clips
Old
zinc
Block
tin
pipe
New
Alualumi- minum
num crankclips
cases
6.83
11.72
15.92
6.03
7.16
9.42
4.70
5.37
7.01
48.66
66. 05
81.00
7.94
8.63
11 82
5.24
6.39
9 44
16.94
16.39
16.34
16.72
16. S7M
16.72
12.62
12.18
12.10
12.25
13.55
12.07
13.09
14.99
12.93 - 15.13
15.61
12.96
7.48
8.25
8.25
8.25
8.25
8.25
5.29
5.63
5.63
5.65
5.88
5. 88
77.50
77.50
77.50
77.50
77.50
83.50
9.11
9.25
9.25
9.55
10.15
10.82
7.11
7.25
7.25
7.41
8.15
8.84
17. 12^
17.81
17.84
17.80
18.43
18.99
13.38
13.83
13.88
14.19
15.35
15.05
15.82
17.16
17.39
18.10
19.64
19.23
8.77
10.25
10.25
10.25
11.99
12.75
6.48
8.00
8.00
8.00
9.50
10.25
83.50
83.50
83.50
83.50
83.50
83.50
12.37
12.48
12.25
13.81
16.04
16.75
10.87
10.84
9.96
9.95
12.41
13.25
18.75
18.13
14. 52
13.12
18.75
15.92
12.44
11.22
9.94
8.72
83.50
82.87
16.13
15.12
12.63
10.22
" 10. 69
16.16
17.31
10.11
12.67
13.45
Source: American Metal Market.
Plant and equipment expenditures
That business as a whole plans a moderately
volume of expenditures on plant and equipment
1949 as compared with 1948 is suggested by the early
received in the annual survey of capital-investment
smaller
during
returns
antici-
SURVEY OF CURRENT BUSINESS
March 1949
pations conducted by the Department of Commerce and the
Securities and Exchange Commission. Though below the alltime high of nearly 19 billion dollars reached last year, however,
the anticipated capital investment for 1949, at least in dollar
terms, remained appreciably above the level of any other
year.
Largest declines from 1948, according to these partial
returns, are indicated for manufacturing industries and
smaller reductions in trade and the communications industries. Little change was expected in electric and gas utilities.
Railroads, however, indicated plans to boost capital investment above the level of 1.3 billion dollars reached last year.
Within the manufacturing segment there were considerable differences among industries. In the textiles, leather,
rubber, and furniture lines where it has been Apparent for
some time that the most urgent postwar expansion projects
had been largely completed, the capital investment programs
established for 1949 were modest when compared with those
9
of the previous year. In the manufacture of transportation
equipment, petroleum, and some of the metals industries,
on the other hand, it appeared likely according to present
plans, that the 1948 rate of investment would be either
approximately maintained or increased.
Expectations of sales volume for 1949 were also obtained
in the quarterly survey and in the aggregate the companies
responding anticipated relatively little change over the
1948 level. Important industry differences in this respect,
not available at this writing, will be analyzed in the next
issue of the SURVEY.
It is interesting to note that small manufacturers, who
had relatively less favorable sales expectations, anticipated
substantial declines in their capital outlays from 1948 to
1949. Larger firms anticipated a more favorable business
situation and accordingly showed smaller declines in their
planned capital outlays.
Industrial Composition of National Income in 1948
PRELIMINARY estimates for 1948 of national income
by broad industrial divisions, together with comparable data
for 1929 and 1947«, are presented in table 3. They show that
all industrial divisions contributed to the 1947-48 increase in
the net value of United States production.
These data permit much of the analysis of the changing
industrial structure of the economy, which was presented in
the December 1948 issue of the SURVEY for the 1929-47
period, to be extended through 1948.
Table 3.—National Income by Major Industrial Divisions 1
[Billions of dollars]
Item
1929
All industries total
Agriculture, forestry, and fisheries
Mining
-Contract construction
__
Manufacturing
Wholesale and retail trade
Finance insurance and real estate
Transportation
- ~ -- -Communications and public utilities _ _ _
Services
--Government and government enterprises
Rest of the world
--
-
_
_
__
_
-
1947
1948
87 4
202 5
224 4
8.0
2.1
3.7
22.0
13.1
13 1
6.6
2.9
10.2
5.1
.6
19.3
4.0
8.7
61 7
37.5
16 5
11.4
5.4
18.8
18 7
.4
22.1
4.8
10.4
68.7
41.7
17.7
12.6
6.2
20.2
19.5
.5
i Estimates of national income by industrial origin for the entire 1929-47 period may be
obtained from the National Income Supplement to the July 1947 SURVEY and the July 1948
SURVEY (National Income section), table 13.
Source: U. S. Department of Commerce, Office of Business Economics.
Table 4 shows the percentage distribution of national
income among four sectors of the economy. From 1947 to
1948 the relative contribution to the national income of
government and government enterprises continued its decline from the peak of 20.6 percent reached in 1945. National
income originating in government, which is measured by the
compensation of government employees, was markedly lower
in relation to the national income aggregate in 1948 than in
any year since 1930 but remained nearly half again as great
as in 1929. The government percentage reached a postwar
low early in 1948 and rose slightly during the remainder of
the year.
National income originating in agriculture, forestry, and
fisheries increased to 9.9 percent of the national income total
in 1948. For the period beginning with 1929, this percentage
was exceeded only in 1935 and 1946. The major factor in
826239—4'
the 1948 increase was the sharp rise in corn production fol
lowing the poor crop of 1947.
The composition of income originating in private nonagricultural industries, which in the aggregate showed virtually
the same increase (11 percent) from 1947 to 1948 as the
national income total, is shown in table 5. The only industrial division which significantly increased its share of total
private nonagricultural production was contract construction. Moderately lower were the percentages contributed
by finance, insurance, and real estate, and the services. In
each of these industrial divisions the downward movement
of "income originating" relative to all private nonagricultural
industries was in accordance with past trends and, aside from
the war years, the 1948 percentage was the lowest yet reached
in the period beginning with 1929. The relative positions of
manufacturing and of wholesale and retail trade, the two
largest divisions, were unchanged from 1947 to 1948, although
both have evidenced a relative growth trend in the past.
Table 4.—Percentage Distribution of National Income by Sector of
Origin 1
Sector of origin
National income
Government and Government enterprises
Agriculture, forestry, and fisheries _. . _ - _ _ _ . - _ . Rest of the world
Private nonagricultural industries. _ _ _ _ _
_ _ _ _ _ _
1929
1947
100 0
100 0
100 0
59
9.2
9
84.0
9 2
9.5
4
80 9
8 7
99
4
81 0
1948
1
Comparable data for the entire 1929-47 period were published in the December 1948
SURVEY, p. 12.
Source: U. S. Department of Commerce, Office of Business Economics.
Table 5.—Percentage Distribution of Private Nonagricultural
National Income, by Industrial Divisions 1
Item
All pri vate nonagricultural industries
Mining. _ _ _ _
Contract construction.
M anuf acturing
Wholesale and retail trade
Finance, insurance, and real estate . .
Transportation
Communications and public utilities
Services
1929
1948
100.0
100.0
100.0
28
50
29 9
17 8
17.8
89
39
13 8
2 5
53
37 6
22 9
10 0
69
33
11 5
2
5
37
22
9
6
3
11
6
7
7
9
7
9
4
1
i Comparable data for the entire 1929-47 period were published in the December 1948
SURVEY, p. 12.
Source: U. S. Department of Commerce, Office of Business Economics.
SUEVEY OF CURRENT BUSINESS
10
March 1949
Recent Changes in Consumer Credit
IN January there was a more than seasonal decline in the
volume of consumer credit outstanding, halting the upward
trend which had prevailed for more than 3 years. Coincidental with the release of this estimate the Federal Reserve
Board announced a relaxation of Regulation W restriction
on installment credit terms which were established last
September.
The down payment on all items other than automobiles
was reduced from 20 percent to 15 percent. For all items,
including automobiles, the contract term permitted was
extended to 21 months. Previously it had been 15 months
for loans of less than $1,000 and 18 months for those over
$1,000. The significance of this development should be
appraised against the background of postwar credit expansion, as well as the apparent effect of the termination of
Regulation W on November 1, 1947, and its reimposition
in modified form on September 20, 1948.
While *the availability of credit undoubtedly influenced to
some extent the intensity of consumer demands, the postwar
expansion of consumer credit was largely the result rather
than the cause of the changing pattern of consumption
expenditures in the postwar period. This changing pattern
of expenditures was in turn determined in the main by the
availability of goods. The expansion of expenditures on
most durable goods lagged behind the immediate postwar
increase in nondurable goods and the sale of automobiles
has continued to rise after some other durable goods passed
their peak.
Distribution of outstanding credit
The successive columns of table 6, which show for the
past 3 years the annual increase in consumer credit outstanding and the proportionate share accounted for by the various
types of credit^ reflect this changing pattern of expenditures.
They also reflect the cumulative effect of high installment
Chart 9.-—Consumer Credit Outstanding, End of Year or
Month
BILLIONS OF DOLLARS
20
BILLIONS OF DOLLARS
20
Chart 10.—Consumer Credit Related to Disposable
Personal Income
20
50
£5 8
~~
_L
0
40
J_
80
120
160
200
DISPOSABLE PERSONAL INCOME, TOTAL
FOR YEAR (BILLIONS OF DOLLARS)
U. S. DEPARTMENT OF COMMERCE,
240
OFFICE OF BUSINESS ECONOMICS.
Sources of data: Consumer credit, Board of Governors of the Federal Reserve System,
disposable personal income, U. S. Department of Commerce, Office of Business Economics;
sales on the total volume of credit outstanding. Over half
the increase in 1946 was in the noninstallment lines. By
1948 this share had dropped to less than 20 percent. In
the meantime the installment sale credit on other than
automobiles had increased from less than 10 percent in 1946
to more than 20 percent in 1947 and dropped back moderately
in 1948. The share of the annual increase accounted for by
automobile installment credit increased from 9 percent in
1946 to 32 percent in 1948.
These trends can be viewed in chart 9 which shows for the
major groups of consumer credit, annual data through 1946
and monthly data thereafter. Installment credit has been
responsible for the major credit fluctuations, historically, as
well as last year. Installment credit is now substantially
above the level a year ago while other types of credit are
only up moderately.
Outstandings low by prewar standards
f I ••T——
jTt— ••«••"•
I Lmlnmlmnlnmln
1929 31 33 35 37 39 41 43
-*
45
CWO OF YCA* -
U. S. O&tfiTMENT OF COMMERCE, OFFICE OF BUSINESS ECONOHICS.
^Source of data: Board of Governors of the Federal Reserve System.
Despite the increase of 10 billion dollars since VJ-day
from less than 6 billion dollars to over 15 billion dollars, the
total volume of consumer credit outstanding is still low by
prewar standards. At the end of last year it was equivalent
to a little more than 8 percent of disposable income, which
is below the experience of years like 1929 and 1941.
This can be seen in chart 10 which presents the scatter
relationship between consumer credit outstanding at the end
of each year and disposable personal income for the year.
The percentage lines drawn through the origin provide easy
reference guides. If the prewar increasing tendency to buy
on credit is taken into account* the margin below prewar
relationships is somewhat greater than shown. This may
be due to the large amounts of liquid assets in the hands of
consumers. While significant in itself the relationship does
not, of course, provide a measuring stick for appraisal of the
economic effect of recent changes in credit.
The margin below prewar relationships is larger in installment credit. As pointed out previously in the November
1947 SURVEY, charge account credit was already in line with
SUEVEY OF CUEEENT BUSINESS
March 1949
prewar relationships by the end of 1947. Similarly, service
credit appears to be at levels consistent with prewar experience.
Credit terms not predominant influence
With this perspective, closer examination of recent
trends in consumer credit is warranted. Such an examination cannot, of course, quantify the extent to which changes
in credit are due to changes in terms as distinguished from
all the other influences affecting consumer decisions to buy
on credit. It does suggest, however, that changes in terms
have been less important than other influences.
As shown by table 7, the rise in consumer credit during the
first three quarters of 1948, after credit controls had been
eliminated, was almost equal to that occurring in the same
period of 1947, when Regulation W was effective. In sharp
contrast, the increase in consumer credit for the four months
Table 6.—Annual Increases in Consumer Credit, 1946—48 1
[Millions of dollars]
1946
Type of credit
1947
Percent
Percent
Dollars Percent
of total Dollars of total Dollars of total
Total consumer credit
3,503
100.0
3,325
Total installment credit
1,585
45.2
655
18.7
317
338
9.0
9.6
Installment sale credit
Automobile
Other ...
Installment loan credit
Total noninstallment credit
Charge accounts
Single-payment loans
Service credit
1948
100.0
2,498
100.0
2,277
68.5
2,009
80.4
1,281
38.5
1,256
50.3
607
674
18.3
20.3
810
446
32.4
17.9
930
26.5
996
30.0
753
30.1
_ _.
1,918
54.8
1,048
31.5
489
19.6
.. ._
1,073
743
102
30.6
21 2
2.9
558
444
46
16.8
13 4
1.4
242
195
52
9.7
78
2.1
i From Dec. 31 to Dec. 31.
Source: Board of Governors of the Federal Reserve System.
ending January, 1949, after controls had been reinstated, was
one-third of the rise in the same months a year earlier.
With the elimination of installment credit controls, downpayment and contract maturity terms in the first 9 months
of 1948 were substantially easier than in the first 9
months of 1947. Downpayment requirements for appliances
and furniture were reduced from one-third to less than onequarter but those for automobiles were typically unchanged.
Contract maturities were lengthened in all lines except, by
and large, for prewar used cars.
Table 7.—Increases in Consumer Credit 1947-49
[Millions of dollars]
First three
quarters
Type of credit
1947
Total consumer credit
Total installment credit
Installment sale credit
Automobile.
Other
_
Installment loan credit
Total noninstallment credit
Char ere accounts
Single-payment loans
Service credit
_._
1948
October
1947-Janary 1948
October
1948-Janary 1949
_ $1, 597
$1, 389
$1,429
$561
1,390
1,587
921
277
699
935
560
193
460
239
707
228
198
362
117
76
691
652
361
84
207
-190
'350
47
-198
508
284
-385
148
39
376
129
3
223
52
9
Source: Board of Governors of the Federal Reserve System.
1
See "Consumer Credit in the Postwar Period," SURVEY OF CURRENT BUSINESS, Novem
ber 1947.
11
Despite this relaxation of terms, the increase in installment
loan credit and sale credit, other than automobiles, was
slightly less in the first three quarters of 1948, compared
with the same period in 1947. The declining ~ rate of increase in sales, and therefore the smaller increase in credit
outstanding, was due to the diminished urgency of demand
and the actual exhaustion of backlogs in some areas. Presumably the difference would have been even more if controls had been continued. It is evident, however, that the
relaxation of credit terms was not enough to offset these
other influences.
In contrast, the increase in automobile sale credit was
half again as large in the second period as in the first. This
was due in large part to the continued pressure of demand,
the increasing availability of passenger cars and the increasing proportion of cars sold on installment credit.
The light easing of terms with the elimination of controls
may have been a contributing factor, particularly in increased sales of used cars. Noninstallment credit, which
was uncontrolled in both periods, actually declined for the
first three quarters of last year.
Reduced credit expension in recent months
Installment terms under the reimposed Regulation W
were not substantially different from the typical terms
during the unregulated period but they did result in a
curtailment of the extreme range of smaller down payment
and longer contract maturities. To this extent they had
some effect on the demand for those goods typically bought
on installment and on the increase in credit outstanding in
the period October 1948 to January 1949. The evidence suggests, however, that they were not a major influence in this
period.
The increase in credit for the 4 months ending January
1949, was less than half that in the corresponding period in
1947-48. Furthermore, the difference was largely in installment credit, where controls were reimposed. However,
this is a net increase in outstanding credit which reflects
the higher rate of installment sales in previous months^ on
which payments were being made in the last 4 months, as
well as the effect of the reimposed controls on new installment
sales. Furthermore, credit controls were only one and not
the most important influence affecting consumer expenditure decisions.
While total automobile sale credit outstanding increased
less in the four months ending January 1949 than in the
same period a year earlier, reports from sales finance companies, which account for almost two-thirds of the installment sale credit outstanding on motor vehicles, suggest that
the difference occurred primarily in used car financing.
As shown by table 8, new passenger car financing by these
companies was larger in these 4 months than in the same
period a year earlier. New car sales, and presumably installment financing, were still limited mainly by production
rather than by any lack of demand.
The change in credit outstanding is, o/ course, a function
of repayments as well as installment sales. The increase
between these two periods in the rate at which new installment loans were being granted was not so large as the increase in payments on existing installment credit. This
higher rate of repayments reflects the much larger volume
of credit already outstanding at the beginning of the second
period as the result of the higher rate of sales in previous
months. With repayments increasing more than new loans
as compared with the previous year, there was a smaller
net increase in credit outstanding.
SURVEY OF CUREENT BUSINESS
12
Table 8.—Volume of Automotive Retail Installment Paper
Acquired by Sales Finance Companies
[Index Numbers, January 1947=100]
Used passenger cars
New passenger cars
Months
1947
January
February
March
April
May
June
July
August
Sep terober
October
December
1948
100.0
107.0
131.6
139.5
132.5
136.5
222.3
195.6
256.2
225.5
178.1
204.8
143.3
133.3
141.3
175.2
187.4
226.8
223.2
254.4
246.8
212.2
258.8
282.0
1949
1947
236.9
1948
100.0
110.0
134.2
143.6
146.5
146.5
152.7
166.4
264.6
275.2
242.2
259.2
149.4
146.4
159.6
158.0
156.4
164.2
264.4
267.0
280.4
196.3
214.0
214.0
1949
184.0
Source: Board of Governors of the Federal Reserve System. Reports are based on representative sample which accounts for the bulk of all Sales Finance Companies. Index numbers
computed by Office of Business Economics from month to month percentage changes.
While used car financing in the fourth quarter of 1948 was
above the comparable period of 1947 it was well below the
previous 7 months. This indicates that installment payments
exceeded new installment sales resulting in a net decline in
credit outstanding on used cars.
Importance of declining backlogs
The reimposition of Regulation W contributed to some
extent to the used car decline as well as the gradual shift from
higher priced to lower priced cars and the generally lessening
pressure of demand all along the line in recent months. More
importantly, however, these changes are understandable in
terms of the analysis of backlog demand presented in the
April, 1948, SURVEY. While the demand for automobiles is
still strong, many of the more urgent requirements have been
satisfied.
As in the case of automobiles the installment terms for
other consumer durables under the reimposed Regulation W
were not too different from those typically prevailing in the
unregulated period. To the extent that the regulation did
eliminate the more than typically easy terms, however, it did
mean some curbing of demand.
More important than any change in credit terms was the
fact that backlogs in many of these items have diminished or
disappeared. Again this is in line with the analysis of the
backlogs in the April 1948 issue of the SURVEY. As the more
urgent demands were satisfied there was necessarily some
leveling off of the upward trend of new installment sales.
March 1949
Furthermore the net increase in credit outstanding, which
was only one-fifth as large in the 4 months ending January
1949 as in the same period of 1947-48, was affected by the
high rate of payments on the large volume of installment
sales made earlier in 1948.
Table 7 indicates the smaller increase in installment loan
credit outstanding in the 4 months ending January 1949, as
compared with the comparable period a year earlier which
is even more striking than the difference in installment sale
credit outstanding. Insofar as these installment loans are
used directly or indirectly for the purchase of consumerdurable goods they are subject to the same influences as the
installment sale credit discussed above. Insofar as they are
used to meet emergencies such as major medical expenses
the volume of credit outstanding has tended to rise in line
with the higher than prewar incomes and living costs. With
a smaller rate of increase in incomes and a leveling off of the
upward trend in living costs, the further increase in credit
outstanding has been reduced. While the reimposition of
credit terms undoubtedly was a contributing factor the correspondingly smaller increase in single payment loans, also
shown in table 7, suggests that these terms were not the
major influence. The single payment loans were not subject
to controls in either period.
The experience of jewelry stores indicated in table 9 suggests that where sales have declined because of other influences affecting expenditure decisions, even though consumer
incomes are maintained, increased credit has not offset that
tendency. Jewelry sales were the first to show weakness
after the postwar peak which in this instance was reached in
1946. While sales declined in the next 2 years the amount
of credit outstanding almost doubled.
Table 9.—Sales and Installment Credit for Selected Retail Stores
[Index Numbers, 1939=100 for Sales; December 1939=100 for Accounts Outstanding]
Year
1946
1947
1948
. .
Furniture stores
Household appliance stores
Accounts
outstandSales i ing
(end of
year)
Accounts
outstandSales 2 ing
(end of
year)
265
312
329
65
94
112
316
463
512
10
19
29
Jewelry stores
Sales
Accounts
outstanding (end of
year)
371
362
333
126
197
240
1
Furniture and housefurnishings.
2 Household appliances and radios.
Source: Board of Governors of the Federal Reserve System for accounts outstanding and
U. S. Department of Commerce, Office of Business Economics for sales.
International Transactions by Major Areas, Third Quarter 19481
ABOUT half of the decline in the export balance on goods
and services from 1,629 million dollars in the second quarter
to 1,243 million in the third was due to changes in our transactions with Canada. Net exports to Latin America and
the EKP countries (including their dependencies) declined
by only about 100 million dollars for each of these groups of
countries.
A balance with Canada was achieved mainly through an
increase of United States imports, merchandise as well as
services. The rise in service imports, however, was due to
the increase of tourist expenditures which occurs regularly
at this season. It should be assumed, therefore, that the
third quarter transactions indicate that Canada has already
1
Estimates of the international transactions by areas will henceforth be published at the
time of revision of the global data, three months after the first global estimates are made
available. This lag is due to late receipt of detailed data required for the area break-down.
succeeded in balancing its transactions with the United
States. Even before the war Canada had to rely upon
dollars received from its export surplus to Europe to pay for
its import surplus from the United States, and is still,
though to a lesser extent than in 1947 or in the first quarter
of 1948, dependent upon dollars received from Europe to
meet expenses in this country.
The improvement in the balance of payments with the
EKP countries was considerably smaller than during the
preceding quarter and was due primarily to a seasonal rise
in tourist expenditures. Because of larger dollar receipts
under the European Recovery and other Government aid
programs, the need by the ERP countries to reduce their
dollar deficits became less urgent.
Significantly, the increase of about 240 million dollars over
the second quarter in Government aid to the ERP countries
SUKVEY OF CUREENT BUSINESS
March 1949
13
other countries, primarily Europe, to the United States and
thus increased its dollar earnings. The better balance in
Canadian transactions with Europe was accomplished, therefore, by smaller imports rather than by expanded exports by
Europe.
Dollar receipts by Latin America from other areas apparently remained unchanged from the second and first quarters
of the year, although about 40 million dollars of goods were
shipped from that area to the ERP countries under the
European Recovery Program in the third quarter.
The contributions of the European dependencies to the
dollar supply of the mother countries do not fully appear in
the accompanying table. Certain colonial products, principally tin, are sold to us by the government of the mother
country'—in this case the United Kingdom—and are, therefore, included in our imports from that country.
The third quarter still reflected the contraction of trade
between the rest of the world, on the one hand, and the
United States and those countries, mainly Canada, which
require payment in dollars, on the other. The conservation
of dollars during the third and preceding quarters of 1948,
however, reinforced substantially by increased dollar disbursements by the Government under the European Recovery Program, made it possible during the following 3 months'
period to end the contraction in foreign expenditures. These
developments are discussed in the following analysis of the
international transactions during the year 1948.
did not induce these countries to increase their import surplus
from the United States but rather to reduce their drawings
upon gold and dollar assets.
The decline of the export balance on goods and services
with Latin America reflected entirely lower exports. In fact,
imports also declined from the high amounts reached in the
first and second quarters of 1948. As was pointed out in the
February issue of the SURVEY in chart 24, page 30, imports
from North and South America during the first three quarters
of 1948 were higher than, might have been expected on the
basis of the prewar relationship between imports and domestic production. Consequently it appears likely that the developments during the third quarter indicate the pattern by
which the gap between current dollar receipts and expenditures by Latin America will be reduced. During the third
quarter of 1948 this gap declined to about 40 million dollars
as against about 70 million dollars in the preceding quarter.
Dollar transfers between foreign areas declined from the
second to the third quarter, but the direction of the flow of7
dollars from Europe and the countries in the "all other'
group, mainly the independent countries of Africa, Asia and
Oceania, to Canada and Latin America did not change. The
decline in the flow of dollars appears to be due to smaller
ayments by the ERP countries to Canada reflecting a better
alance in the transactions between these countries. Since
total Canadian exports rose less than United States imports
from Canada it seems that Canada diverted exports from
E
Table 10.—International Transactions of the United States, by Areas, First Three Quarters of 1948
[Millions of dollars]
ERP countries
Item
I
Exports of goods and services:
Merchandise, adjusted..
Transportation
Travel
Miscellaneous services...
Income on investments..
Total
Imports of goods and
services:
Merchandise, adjusted..
Transportation
Travel
Miscellaneous services. _.
Income on investments..
Total
II
Total
Long-term capital (net) :
United States private
U S Government
Foreign capital
Total
Gold and short-term capital:
Net purchases (— ) or
sales (+) of gold _
Net m o v e m e n t s of
United States shortterm capital abroad. _ .
Net movement of foreign short-term capiital in the United States..
Total
Transfers of funds between
foreign areas (receipts
from other areas (— ),
payments to other areas
(+), and errors and
omissions)
_
II III
I
II
I
1,424 1,138
167 141
13
17
93
80
33
60
1,085 188 193 154 101 37
8 5 9 , 5
9
161
1 1
3
16
3 2
1 2
4
2
91
4
1 1
61
3 8 20
1,744 1,422
1,414 207 213 183 114
48
281
89
16
123
42
293
106
32
145
39
284 189 145 160 48 49
2
2
5 6
133 2
1 1
5
5
61
7
3
8 5 4
134
4
45
1 1 1 1 1
551
615
657 203 161 173
Net balance on goods and
services
+1, 193 +807
Unilateral transfers (net) :
Private
Government
III
ERP depend- Other Europe Canada and Latin American All other coun- Total foreign countries International
Newfoundland
encies
Republics
tries
institutions
59
60
+757 +4 +52 +10 +55 -12
III
-593 -168
-16
-263 -399
-20 +14
+83 -31
-106
9S
-1
II
860
77
20
29
92
-5
III
II
III
I
II
III
I
II
III
3,389
285
80
162
305
3,085
304
88
161
321
685
51
4
20
52
637
49
4
18
63
3,656
333
63
151
228
3,389
285
80
150
305
3,085
304
88
144
318
2
8
3
12
17
3
3,658
333
63
159
231
529
639
609 1,078 1,075
908
759
812
771
4,431
4,209
3,939
13
12
20
4,444
4,221
3,959
48 340
17
7
1 24
7
6
1
7
369
19
54
7
8
426
20
140
8
24
715
39
47
21
3
669
39
39
20
2
596
45
45
14
2
362
9
4
83
2
346
8
6
155
3
370
8
5
92
5
1,935
161
99
242
56
1,871
180
137
338
54
1,884
215
257
259
78
1
1
6
1
1,935
161
99
243
14
1
57
1,876
180
137
344
55
1,892
215
257
273
79
395
457
618
825
769
702
460
518
480
2,493
2,580
2,693
2
12
2,495
2,592
2,716
54
63
-9 +134 +182
+1
+2
+1
+2
-2
—4
-2
-2
-6
—5
-2
7
-1 +62
+7
+5 +3
+390 +15 -11 -13 +7 +81 +38 —157 -202
Source: U. S. Department of Commerce, Office of Business Economics.
23
-3 +1, 949 +1,629 +1, 243
7 —30 -34 —27
-2 -153 -94 -259
— 161
-774
— 158
136
-756 -1,203 -33 -39 -11
-161
-807
-158
-136
-795 -1,214
-9 -183 -128 -286
-935
-914 -1,339 -33 -39 -11
-968
-953 -1,350
-57
-600
-49
-187
-Ib2
-96
-2
7
+3
-1 -48 -35
97
15
+3
+1 -4 -7
-57
-600
-49
-187
-162
-101
-229
+118
-30
+5
22 -29 -50
-6
+3 -67 -69
-706
-450
-141
+5 -10
-706
-445 -
-346
-526
-323
+3
-348
-526
o
16
+6
+5 -81 -55 -93 -112 -163
-14
+9 +47 +29
-8 +91 +149 +94 -28 -51
+303 +527
8
5
-9
50 -89 +140
-4 +15 -2
68 -130
5
-9 +253 +306 +206 +299 +294 +291 +1,938 +1,629 +1,246 +11
+9 +12
-1 -22 -15 +87 +84 +96 -19 +21 +13 -29 -34 +71
8 -28
I
653
59
5
27
15
-114
-11 -17 +35
II
678
67
27
22
114
+2 +2 +3 +4 +2
Q -20 +30
I
838
65
25
22
125
-24 -7 +15
-1
-24 -30 -19 -11
III
490
17
37
10
55
-200 -416
I
-25 +5 -3 -13 -14 -56 -160 -19 -36
-6 -4 +1 +2 -11 -8
-2
III
498
15
31
9
86
77 -8 i -2 34 -30 -23
-1
-940
+1
-? -35 -30 -23
-703 -750 -1,017 -8
+6 -1
-3 -1
-19 +2
II
41 430
5 12
1 21
9
2
57
5
-86 -90
-617 -660
-27 -21
-512 -46
-54 -101
I
Total
+5 -93 -137
-61 -190 -198 -196
-80
-26 +38 +144
-15
+112
-249
-48
+28
-2
-500
+235
-2
+62
-7
-3
-1
-15
+28
-236
+115
-30
-151
-320
+61
+193 -257
-78 -18
-145
-68 -259
-78 -16
-508
-578
-84
+233
+347
+342
+302 +281 +112 +40
-80
+175
By Walther Lederer
International Transactions
During 1948
Di"URING the fourth quarter of 1948 the downward trend
in exports which had extended from the second quarter of 1947
was apparently terminated and replaced by a nefw rise.
This rise was not limited to ERP countries, but was relatively
even greater in our exports to North and South America, and
Oceania. The greater dollar disbursements by the Government under the European Recovery Program, together with
the progress made by many foreign countries during the
previous quarters in balancing their dollar transactions, were
responsible for improved financial conditions abroad, which
in turn apparently permitted some relaxation of import
restrictions.
Foreign aid rising
The rise of disbursements under the European Recovery
Program by more than 500 million dollars was not fully
reflected in total Government grants, mainly because of a
200 million dollars decline in Army shipments of civilian
supplies to occupied areas. The nearly 1,100 million dollars
of ERP aid (see table 5) included 81.4 million dollars which
at the end of December had been declared to be part of the
1 billion dollars of total ERP aid which, according to the
Foreign Assistance Act of 1948, has to consist of repayable
loans. However, since the change of this amount in Treasury records from grants to loans was not completed before
the end of the year, the disbursement was still classified as
a grant in the balance of payments statistics. To achieve
the required relationship between loans and grants ERP
disbursements for the first quarter 1949 to a large extent
will be in the form of loans.
ERP disbursements in the fourth quarter of 1948, despite
the sharp increase, were still less than the rate of more than
1,200 million dollars per quarter permitted by the budget
for the first year. A further rise in disbursements should be
expected, therefore, during the early part of 1949, particularly if the backlog of undisbursed purchase authorizations
is to be reduced. Disbursements under the civilian supply
program were likewise less than the quarterly rate permitted
in the budget and higher shipments during the early part
of 1949 are also expected under this program.
Offsetting the aid rendered to foreign countries are receipts
of strategic materials and administrative services from
foreign countries, purchased with funds deposited abroad to
the credit of the United States—the so-called counterpart
funds. These funds amount to 5 percent of the grants
furnished to each of the countries participating in the recovery program and consist of inconvertible currencies of the
countries receiving the aid. In the balance of payments as
presented here, merchandise and services actually received
NOTE.—Mr. Lederer is Assistant bOhief, International Economics Division, Office of
Business Economics.
14
are classified as unilateral receipts, and the unused portion
of these funds is omitted both from unilateral receipts and
Government short-term assets.
Dollars added to foreign reserves
Although net Government aid increased by nearly 450
million dollars from the preceding quarter, exports of goods
and services increased by little more than half that amount.
The fact that higher Government disbursements were not
reflected in larger expenditures here by foreign countries
may be ascribed to the fact that a considerable part of the
disbursements" took place during the last weeks of December
and represented reimbursements to foreign governments for
purchases made in earlier periods, and financed at that time
through drawings upon their own gold and dollar reserves.
Consequently, the aid disbursements made it possible for
some of the recipient countries, particularly the United
Kingdom, to recover some of the gold and dollar losses incurred since the start of the European Recovery Program.
In addition, several of the countries of the Western Hemisphere were able—in spite of higher purchases in the United
States—to strengthen their reserves by retaining a part of
the dollars obtained from "offshore purchases" under the
program and from higher exports to the United States.
For the first time since the end of 1945 some of the dollars
paid to foreign countries by the United States were not used
for purchases of goods and services here, but were added to
foreign reserves (see chart 1). This represents a continuation of the trends discussed in the December issue of the
SURVEY (pp. 8-10) and illustrated there in chart 5. Compared to a liquidation of foreign dollar assets of 156 million
in the third quarter foreign countries accumulated 216
million in the fourth. However, unlike foreign dollar
accumulations during the war, which were due to scarcities
of exportable supplies in the United States, the accumulations
during recent months may be ascribed to the desire on the
part of foreign countries to raise their reserves. At the
same time, however, this tendency indicates also that the
need for imports abroad has somewhat diminished so that
every increase in dollar receipts is not used immediately to
increase purchases in the United States.
Merchandise imports supply more
dollar exchange
Imports of goods and services during the fourth quarter
were slightly smaller than in the preceding 3 months period.
The decline was, however, less than the seasonal reduction
in tourist expenditures because merchandise imports continued to rise. The rise of recorded imports by 150 million
dollars to an annual rate of about 7.5 billion dollars was due
SURVEY OF CURRENT BUSINESS
March 1949
15
Chart 1.—Sources and Utilization of Dollar Funds of Foreign Countries
BILLIONS OF DOLLARS
l
BILLIONS OF DOLLARS
7
SOURCES
UTILIZATION
OTHER KNOWN
'SOURCES (NET)
LIQUIDATION
OF GOLD AND
ASSETS
INCREASE OF GOLD AND DOLLAR ASSETS.
iDOLLAR
IMPORTS OF GOODS AND
SERVICES FROM U. S.
EXPORTS OF GOODS AND
SERVICES TO U. S
1945
1946
1947
1948
1945
1946
1947
1948
QUARTERLY TOTALS
V. S. DEPARTMENT OF COMMENCE, OFFICE OF BUSINESS ECONOMICS.
i The differences between the totals for sources and utilization of funds are due to unknown transactions.
Source of data: U. S. Department of Commerce, Office of Business Economics.
entirely to an increase in the volume of imports since average
unit values did not change from the preceding quarter.
Nearly all areas shared in the increase, indicating further
progress abroad in raising production and stimulating exports
to the United States. Although some success was thus
attained by foreign countries in their effort to increase their
current earnings to meet a higher share of their expenses in
the United States, foreign sales in this country in the fourth
quarter were still considerably less than the amount that
might have been sold here on the basis of the prewar relationships between domestic production and imports. This subject was discussed in the February issue of the SURVEY.
The net outflow of direct investment capital showed the
usual seasonal rise which is due mainly to book transfers of
funds from capital account to earnings and is offset by a
seasonal increase in income on foreign investments. However, short-term assets abroad continued to decline, reflecting
partly the decline in export trade during the last year and
partly the better financial position of some foreign countries
which permitted them to reduce their short-term liabilities.
Export surplus declined 40 percent during 1948.
Reviewing the international transactions of the United
States during the year as a whole and comparing them with
those during 1947, the outstanding developments were
probably the adjustments of foreign countries to the reductions in their gold and dollar reserves. During 1947 foreign
countries financed about 4.5 billion dollars of their purchases
in the United States from their reserves; in 1948 purchases
financed from these sources shrank to about 860 million
dollars, all of which were concentrated in the first half of
, the year.
Net Government aid, both grants and loans, including disbursements of nearly 1.9 billion dollars under the European
Recovery Program, was about 1 billion dollars less than in
1947 and dollar disbursements by the International Bank
and the Monetary Fund declined by about 400 million dollars.
To meet this decline of dollar supplies of about 5 billion
dollars foreign countries increased their exports to the
United States by 2 billion dollars and reduced their purchases here by 3 billion dollars. Thus, the adjustment to
the lower dollar supply was not accomplished solely by a
decline of exports of goods and services from the United
Chart 2.—Total Merchandise Imports of Foreign Countries
and Merchandise Exports from the United States
BILLIONS OF DOLLARS
50
TOTAL IMPORTS
OF FOREIGN
COUNTRIES-^/
40
I
U. S.
I EXPORTS
30
20
10
1937 47 48
ALL COUNTRIES
(937 47 48
EUROPE
f937 47
48
WESTERN
HEMISPHERE
1937 47 48
OTHER
U. S. DEPARTMENT OF COMMERCE, OFFICE OF BUSINESS ECONOMICS.
1
Data for 1948 are preliminary and are partially estimated.
Sources of data: Imports of foreign countries, U. S. Department of Commerce, Office of
International Trade; TJ. S. exports, U. S. Department of iCommerce, Bureau of the Census.
SURVEY OF CURRENT BUSINESS
16
States. This result could not have been achieved without
considerable progress in foreign economic recovery and the
continued high level of business activity in this country.
The progress abroad made it possible not only for foreign
countries to increase their sales to the United States, but
also to reduce their purchases here while increasing their
total imports from all sources (see chart 2). The reestablishment of foreign sources of supply, particularly of foodstuffs, fuels and manufactured products, lessened the warcreated need to rely upon the United States to an unusual
degree for such products.
Service transactions aid foreign dollar supply
The progress toward a balance in current transactions was
not limited to merchandise trade alone. Net foreign dollar
requirements for transportation services declined from over
1 billion to about 440 million dollars. The decline in receipts from 1,700 million to 1,200 million dollars was due
Table 1.—International Transactions of the United States *
Receipts
Goods and services:
Goods -Income on investments
Other services
Total goods and services —
Unilateral transfers
Long-term capital:
Movements of United States
capital invested abroad
Movements of foreign capital
invested in the United
States
Total long-term capital
Total receipts
Payments
Goods and services:
Goods
_
Income on investments
Other services
Total goods and services
Second
quarter
Third
quarter
Fourth
quarter
16, 056
1,074
2,611
3,658
231
555
3,389
3,085
321
553
3,266
400
536
13 398
1,257
2, 171
19, 741
4,444
4,221
3,959
4,202
16, 826
605
100
115
88
112
415
1,030
184
170
439
82
875
305
527
58
5
13
22
30
70
189
183
461
112
945
21, 434
4,733
4,519
4,508
4,426
18, 186
6,071
1,935
57
503
1,876
55
661
1,892
79
745
2,008
83
597
7,711
274
2 506
2,495
2,592
2, 716
2,688
10, 491
1,752
5,326
403
2,323
2, 165
Unilateral transfers
2,985
1,068
1,068
1,438
Long-term capital:
Movements of United States
capital invested abroad. . _ _ _
Movements of foreign capital
invested in United States
8,665
841
519
560
164
54
109
52
Total long-term capital. __
Total
1,088
8,463
215
8,829
895
628
612
403
2,538
20, 277
4 458
4 288
4 766
4 843
18 355
Excess of receipts (-f-) or payments (— ):
Goods and services
Unilateral transfers
+11, 278
—2 380
+1, 949
—968
+1, 629
—953
+1 243
— 1 350
+1, 514
—1 640
+6 335
—4 911
Goods and services and unilateral transfers
Long-term capital
+8 898
—7 741
+981
—706
+676
—445
— 107
—151
—126
—291
+1 424
1 593
Total payments
All transactions
Net flow of funds on gold and
short-term capital account:
Net increase (— ) or decrease (+)
in gold stock
Net movement of United States
short-term capital abroad
Net movement of foreign shortterm capital in United StatesNet inflow (+ ) or outflow
(-) of funds
Errors and omissions
1
+1, 157
+275
1948
Item
total
Exports of goods and services
+231
First Second Third Fourth
quarter quarter quarter quarter Total
19, 741
4,444
4,221
3,959
4 202
16, 826
MEANS OF FINANCING
Foreign resources:
United States imports of goods
and services
Liquidation of gold and dollar
assets
8,463
2,495
2,592
2,716
2 688
10 491
4,513
307
613
157
—216
861
464
297
132
103
22
67
6
20
36
—1
196
189
United States Government aid:
Grants (net)
Long- and short-term loans (net)__
1 812
3,901
807
795
37
1 214
-144
United States private sources:
Remittances (net)
Long- and short-term capital
(net)
568
161
158
136
148
727
161
284
196
235
876
— 1,004
—233
—347
—342
—203
—1, 125
Dollar disbursements (net) by:
International Monetary Fund
International Bank
511
4 308
427
603
—258
—417
— 169
—2 163
—348
—526
—320
—338
—1 532
-299
-15
+28
+61
+63
+137
-80
+175
+489
+439
-956
+301
-145
-2, 161
-508
-578
-84
+214
+1 004
+233
+347
+342
+203
+1 125
primarily to the smaller volume of United States exports,
particularly of coal, but also to an increase in the share
carried by foreign vessels. Larger imports and an increased
proportion carried by foreign ships accounted for the small
rise in payments for transportation services. However,
transportation transactions still show substantial net receipts as against a negative balance customary before the
war.
Travel expenditures by American tourists abroad increased by only 60 million dollars over the preceding year.
Total travel expenditures abroad of about 600 million dollars
Table 3.—Merchandise Transactions with Foreign Countries
[Millions of dollars]
1948
1 Q47
Item
total
Transfers to foreign countries:
Exports including reexports recorded by the Bureau of the
Census
.
Other transfers and adjustments:
Civilian supplies for occupied
countries not included in
recorded exports
Surplus property including ship
sales and military sales
Other adjustments
First Second Third Fourth
quarter quarter quarter quarter
Source: U. S. Department of Commerce, Office of Business Economics.
Total
3,319
3,238
2,931
3,125
12, 613
800
41
34
76
14
165
465
364
214
84
84
33
40
38
37
90
375
245
16, 056
3,658
3,389
3 085
3 266
13 398
12, 941
2,754
2,735
2,434
2,739
10, 662
3,115
904
654
651
527
2,736
5,733
1,794
1,693
1,715
1,869
7,071
144
61
65
76
75
277
44
150
50
30
83
35
68
33
36
28
237
126
foreign
_
6,071
1, 935
1,876
1,892
2,008
7, 711
Through private United States
business
Through United States Government agencies
5,323
1,785
1,690
1,716
1,836
7.027
748
150
186
176
172
684
Total transfers to foreign countries
Through private United States
business
.__ __
Through United States Government agencies
_
Transfers from foreign countries:
General imports recorded by
Bureau of the Census
Other transfers and adjustments:
Military purchases abroad
Foreign purchases by other
Government agencies not included in recorded imports
Other adjustments ___
Total transfers
countries
from
14,427
Data for the years 1945-47 are shown in table 8 of this article.
1 492
23
Source: U. S. Department of Commerce, Office of Business Economics.
First
quarter
227
[Millions of dollars]
i Data for the years 1945-47 are shown in table 7 of this article.
1948
total
Table 2.—-Exports of Goods and Services and Means of Financing l
Errors and omissions
[Millions of dollars]
Item
March 1949
Source: U. S. Department of Commerce, Office of Business Economics.
SUEVEY OF CURRENT BUSINESS
March 1949
Table 4.—Service Transactions With Foreign Countries
[Millions of dollars]
17
Table 6.—Movements of United States Capital
[Millions of dollars]
1948
1948
1 QJ.7
Item
Total
Receipts:
Transportation.
Travel
Miscellaneous services:
Private
Government
Total receipts
_
Payments:
Transportation
Travel
___
Miscellaneous services:
Private
__ ._
Government
Total payments
First Second Third Fourth
quarter quarter quarter quarter Total
1,709
334
333
63
285
80
304
88
296
67
1,218
504
64
127
32
138
24
139
22
146
27
550
105
2,611
555
527
553
536
2,171
701
544
161
99
180
137
215
257
223
111
779
604
255
665
70
173
75
269
73
200
74
189
292
831
2,165
503
661
745
597
2 506
298
1948
Government:
Payments:
UNRRA
Post-UNRRA
Interim aid >
. __
European Recovery Program
Ohinesfi aid program
Civilian supplies for occupied
countries
Greek-Turkish aid program
War damage payments and other
transfers to the Republic of the
Philippines
International Refugee Organization
Other transfers
Total payments
-
Receipts:
Lend-lease settlement
Goods acquired with EGA counterpart funds
Other
_
Total receipts
-
Net Government payments
Private remittances:
Payments
Receipts
Net private payments
Total outflow
First Second Third Fourth
quarter quarter quarter quarter
Total
56
301
21
197
204
1
6
48
567
78
1,096
. 556
1,867
980
343
295
420
205
75
1,263
349
96
11
23
42
51
127
17
305
33
43
21
35
12
22
24
29
90
129
2,272
878
892
1,283
1,583
4,636
7
3
91
206
254
71
95
90
88
66
1
10
92
84
171
10
21
70
21
297
460
71
97
69
91
328
1,812
807
795
1,214
1,492
4,308
713
145
190
29
176
18
155
19
169
21
690
87
568
161
158
136
148
603
Source: U. S. Department of Commerce, Office of Business Economics.
were only about half the amount that might have been expected on the basis of prewar relationships between national
income and tourist expenditures.
There are several factors which prevented tourist expenditures from making a larger contribution to foreign dollar
income in 1948. Transatlantic passenger transportation
facilities, including aircraft during the peak travel season,
were only about 60 percent of those existing in the last years
before the war. Tourist accommodations in many of the
main travel countries have not been expanded in proportion
to the rise in the volume of foreign travel that could be expected as a result of the increase in real incomes in this country. Furthermore, some of the countries which were major
attractions before the war, particularly in Central Europe,
were not freely accessible.
There was also a considerable increase in Government expeoditures abroad, only part of which, however, increased
foreign dollar resources. The remainder, in occupied countries, was paid from funds turned over to the army of occupation without need for reimbursement.
826239—49
3
Inflow:
Direct investments
Other
Net outflow of private longterm capital
543
245
12
74
Total outflow
Inflow
Outflow:
• Purchase of obligations from or
guaranteed by the International Bank
Direct investments
Other
Table 5.—Gifts and Other Unilateral Transfers
[Millions of dollars]
total
Long-term capital:
Government:
Outflow:
Credits on sales of surplus property
__
Credits on sales of ships
Export-Import B ank loans
Subscriptions to:
International Bank
International Monetary
Fund
British loan
Other
_
Net outflow of Government
long-term capital
._.
Source: U. S. Department of Commerce, Office of Business Economics.
Item
Item
Net outflow of short-term capital:
Government
Private
total
First Second Third Fourth
quarter quarter quarter quarter Total
11
164
13
170
18
26
145
15
2
69
69
208
41
453
2,745
2,850
82
300
5
5
8
3
300
21
7,065
174
652
52
194
32
94
209
83
43
1,023
336
6,891
600
162
40
687
243
1,130
227
185
4
253
72
8
308
150
"311
9
8
1,057
235
1 600
189
325
466
320
1,300
464
392
99
33
99
39
206
24
«39
404
135
744
57
187
236
281
761
+73
+226
-89
+104
—125
+97
—29
—32
—17
—46
—260
+123
120
154
796
318
-115
« Preliminary estimates for the fourth quarter show only the net outflow of direct investment capital.
Source: U. S. Department of Commerce, Office of Business Economics.
Total service transactions, excluding income on investments, for the first time since the war showed a negative
balance and thus financed at least a part of our merchandise
export surplus. During the 1930's more than 60 percent of
our merchandise export surplus was financed through our
deficit on service transactions.
Foreign recovery progress
The international transactions of the United States during
1948 reflect the progress made abroad in strengthening
foreign economies. This progress is indicated by the ability
of foreign countries to expand exports to this country, and
to reduce the extent of their dependence upon supplies and
services coming from here. Furthermore many foreign
countries started to rebuild their monetary reserves, or at
least were able to finance their foreign transactions without
further drains.
In 1949, with the further flow of the United States aid,
this progress can be expected to continue. On the basis of
the current and proposed Federal budget the total Government aid to foreign countries in calendar year 1949 will
amount to nearly 2 billion dollars more than last year when
the disbursements under the European Recovery Program
reached only about half the annual rate approved by
Congress. Furthermore, a larger part of this aid than last
year will be devoted to the reconstruction of productive
facilities abroad and the adaptation of foreign countries to
the changes in international trade necessitated by the war.
The pattern of international transactions developed during
the last quarter of 1948 should therefore be expected to be
extended into the current year. Imports of goods and
services are likely to increase and the foreign dollar position
may be further improved.
SUEVEY OF CUEEENT BUSINESS
18
March 1949
Table 7.—-Exports of Goods and Services and Means of Financing, 1945—47
[Millions of dollars]
1946
1945
1947
Tf-nm
Exports of goods and services
I
II
III
IV
Total
I
II
III
IV
Total
I
II
III
IV
4,274
4,798
3,851
3,350
16, 273
3,438
3,963
3,800
3,765
14,966
4,816
5,277
4,801
4,847
19, 751
3,192
—695
2,897
—861
2,248
—650
1,895 10, 232
—427 —2 633
1,717
316
1,700
500
1,813
343
1, 937
809
7,167
1,968
2,022
1 197
2,149
1 143
2,074
856
2,218
1 317
8 463
4 513
56
92
148
142
260
63
464
297
Total
MEANS OF FINANCING
Foreign resources:
United States imports of goods and services
Liquidation of gold and dollar assets
Dollar disbursements by:
International Monetary Fund
International Bank
United States Government aid:
Grants (net)
Long- and short-term loans (net)
United States private sources:
Remittances (net)
Long- and short-term capital (net)
___
Errors and omissions
1,537
66
2,372
55
1,690
543
1,041
355
6,640
1,019
798
448
705
732
456
1,084
320
510
2.279
2,774
444
854
457
1,539
492
1,201
419
307
1,812
3 901
113
15
127
170
107
3
126
362
473
550
115
98
172
114
145
57
166
66
598
335
145
301
119
207
138
98
166
121
568
727
+46
+38
-90
-2
-8
-54
+40
—98
-43
—155
—147
-485
-348
—24
-1 004
Total
Source: U. S. Department of Commerce, Office of Business Economics.
Table 8.—International Transactions of the United States, Quarterly, 1945-47
[Millions of dollars]
1946
1945
Receipts:
Goods and services:
Goods
Income on investments
Other services
-
__
-
-
-
Total goods and services
Unilateral transfers
Long-term capital:
Movernents of United States capital invested abroad.
Movements of foreign capital invested in United
States
Total long-term capital
Total receipts.
_
Payments:
Goods and services:
Goods
Income on investments
Other services
Total goods and services
Unilateral transfers
Long-term capital:
Movements of United States capital invested abroad.
Movements of foreign capital invested in United
States Total
Total payments
Excess of receipts (+) or payments (— ):
Goods and services
Unilateral transfers —
Goods and services and unilateral transfers
Long-term capital
All transactions
Net flow of funds on gold and short-term capital account:
Net increase ( — ) or decrease (+) in gold stock
Net movement of United States short-term capital
abroad
Net movement of foreign short-term in United States
Net inflow (+) or outflow ( — ) of funds
Errors and omissions
I
II
III
IV
Total
I
II
III
IV
Total
I
II
III
IV
3,392
120
762
3,778
132
888
2,938
125
788
2,365
212
773
12, 473
589
3,211
2,655
162
621
3,205
189
569
3,059
167
574
2,955
302
508
11, 874
820
2,272
3,954
212
650
4,308
243
726
3,875
251
675
3,919
368
560
16, 056
1,074
2,611
4,274
4,798
3,851
3,350
16, 273
3,438
3,963
3,800
3,765
14, 966
4,816
5,277
4,801
4,847
19, 741
1,422
1,004
423
73
2,922
60
78
115
109
362
213
166
117
109
605
112
181
90
158
541
268
254
325
334
1,181
286
303
222
219
1,030
5
36
5
5
51
1
12
5
5
36
58
117
217
95
163
592
268
255
325
334
1,182
298
308
227
255
1 088
5,813
6,019
4,369
3,586
19, 787
3,766
4,296
4,240
4,208
16, 510
5,327
5,751
5,145
5,211
21, 434
1,493
51
1,648
1,606
54
1,237
1,441
58
749
1,126
68
701
5,666
231
4,335
1,245
47
425
1,243
50
407
1,246
53
514
1,434
66
437
5,168
216
1,783
1,507
51
464
1,562
55
532
1,353
47
674
1,649
74
495
6,071
227
2,165
3,192
2,897
2,248
1,895
10,232
1,717
1,700
1,813
1,937
7,167
2,022
2,149
2,074
2,218
8,463
3 072
3,503
2,220
1,240
10, 035
973
955
716
595
3,239
802
742
747
694
2,985
178
262
689
707
1,836
844
1,269
1,322
1,002
4,437
4,210
1,844
1, 944
667
8,665
94
6
32
23
155
156
33
143
16
348
59
26
68
11
164
272
268
721
730
1,991
1,000
1,302
1,465
1,018
4,785
4,269
1,870
2,012
678
8,829
6,536
6,668
5,189
3,865
22, 258
3,690
3,957
3,994
3,550
15, 191
7,093
4,761
4,833
3,590
20, 277
1
+1, 082 +1, 901 +1, 603 +1, 455 +6, 041 +1, 721 +2, 263 +1, 987 +1, 828 +7, 799 +2, 794 +3,128 +2, 727 +2, 629 +11, 278
-589
-877
-601
-913
-486 -2, 877
-630
-576
-1,650 -2, 499 -1, 797 -1, 167 -7, 113
-585 -2, 380
—568
-155
—598
-51
—194
-626
+288 -1,072
—567 —1,399
-723
-649
-820
—279 -2, 471
+76
+180
+157
+201
+548
-227
-31
—77
-15
+604
—144
+674
+53
+476
—274
—168
+435 +2, 189
+30
+67
+11
-279
—144
-123
+769
+687
+730
+277 +2, 463
—130
-299
-344
-701
-46
-38
+90
+8
+54
-40
+98
+43
Source: U. S. Department of Commerce, Office of Business Economics.
1947
+10
+2
+808 +1, 386 +1, 386 +1, 342 +4, 922 +2,205 +2, 552 +2, 097 +2, 044
—732 -1,047 -1, 140
-684 -3, 603 -3, 971 -1, 562 -1, 785
-423
+339
+246
+658 +1,319 -1, 766
+990
—288
-623
+81
—72
-341
-135
—175
-676 +1, 673
+312 +1, 621
+1, 157
—793
—667
—784
—2, 163
—364
-318
+180
-173
+20
-881
-299
+301
-1, 474 +1, 619 -1, 475
+155
+147
+8 898
-7, 741
+485
—660 —1, 645
—2 161
+348
+1 004
+24
ileworKeviAed
STATISTICAL SERIES
Production-Worker Pay Rolls in Manufacturing Industries, Unadjusted Indexes: Revisions for Page S—121
[1939=100]
1946
1947
Industrial group
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
234 5
215 0
239 5
256 5
255 6
265 5
270 4
288 5
294 9
297 9
303 9
312 6
Durable goods industries, total- 250.2
Iron and steel and their
224.1
products
Electrical machinery
313.9
Machinery, except electrical
308.9
Automobiles
159.3
Transportation equipment, except automobiles. 580.2
Nonferrous metals and
262.8
products
- Lumber and timber basic
194.1
products
Furniture and finished
202.0
lumber productsStone, clay, and glass prod191.0
ucts _--
204.9
246.2
277.9
277.9
292.7
300.5
321.3
329.2
334.8
338.5
345.5
133.1
214.8
266.2
233.3
243.6
298.3
234.1
325 3
242.6
350.8
250.2
354.4
269.2
383.1
277.4
402.2
277.9
413. 8
285.6
422.4
264.8
148.0
288.6
173.8
314.8
252.1
324.9
243.1
345.1
262.2
349.9
295.7
366.6
322.7
381.3
334.6
393.9
328.9
511.0
527.9
582.2
562.5
562.6
564.6
559. 8
531.2
227.5
253. 1
277.6
283.2
300.9
306.7
327.5
335.6
206.4
221.6
236.0
250.3
270.8
262.0
298.9
210.9
221.0
228.0
226.7
239.8
239.4
259.2
211.5
225.4
233.5
234.2
246.4
248.0
267.3
All manufacturing
Nondurable goods industries,
total
Textile-mill products and
other fiber manufactures
Apparel and other finished
textile products
Leather and leather products
Food and kindred products
Tobacco manufactures
Paper and allied products
Printing, publishing, and
allied industries
Chemicals and allied
products _
Products of petroleum and
coal
_
Rubber products
M onthly
average
Monthly2
average
Jan.
Feb.
Mar.
Apr.
269 6
314 2
317.6
320 9
317 6
332 l
293.3
348.3
353.2
358.9
359. 0
371.9
281.3
437.5
245.4
345 8
292.6
432.8
292.3
430.2
298.8
437.1
301.5
403.6
314.9
440 4
396.6
330.8
407.2
334.5
345.2
265. 5
414.1
326.7
417.2
343.3
424.5
353.9
431.0
349.5
439 9
363.5
550.4
539.9
581.6
554.5
572.9
568.6
567.3
576.0
551.6
343.1
350. 1
361.8
302.5
360.3
365.7
364.8
359.8
356.6
299.8
308.9
302.8
309.7
263.4
312.9
334.1
336.7
352.0
389.0
265.0
276.4
282.2
294.7
245.4
298.8
308.7
309.0
303.7
316.9
275.3
280.7
285.3
293.3
249.3
291.9
289.8
298.0
301.4
310.1
219.0
224.8
233.0
235.7
233 9
238.9
241.0
256.3
261.3
261.8
270.1
280.5
246.4
280.7
»
282.7
283.7
277.2
293. 1
190.0
203.3
212.6
216.1
215.5
219.7
216.2
233.0
239.6
245.8
251.2
259.6
225.2
260.5
268.2
271.4
261.6
265.0
223.3
234.3
256.2
255.1
249. 5
252.8
234.1
264.4
273.5
273.1
271.6
279.6
255.6
292.9
306.0
303.4
267.2
291 9
187.5
197.9
206.7
209.6
209.9
211.3
205.9
208.0
214.3
209.9
213.1
232.0
208.8
234.6
237.1
236.7
228.8
238 4
219. 5
166.7
224.6
217.1
165.2
228.7
213.1
171.3
236.3
213.0
174.6
239.9
210.6
181.1
241.6
214.9
184.1
249.0
243.9
178.3
248.8
265.2
186.2
259.3
258.4
196. 0
263.0
244.7
207.4
272.1
266.9
212.7
280.8
280.2
222.0
289.1
237. 3
187.1
252.8
273.2
209.4
289.1
258.7
201.0
293.0
255. 5
193. 1
296.0
259.8
181. 6
296.0
300.4
201.8
306.8
172.4
177.9
184.6
186.7
187.7
193.0
195.3
200.4
205.7
211.5
217.4
227.8
196.7
223.6
225.6
231.7
234.9
241.3
311.2
311.6
318.4
320.7
313.5
315.9
318.9
324.0
333.7
340. 5
350.9
363.6
326.9
370.0
379.1
384.1
385.2
393.6
227.0
284. 8
227. 6
285.3
238.0
294.4
240.0
3J4.3
235.7
315.3
244. 2
323.0
253.0
311.9
255.5
325.5
260.1
350.0
255.7
346.0
255.9
359.8
254.5
372.3
245.6
323.6
257.9
365.7
260.7
364.5
266.0
353.3
269.7
363.1
288.4
353.6
1 Compiled by the U. S. Department of Labor, Bureau of Labor Statistics. The revision resulted from adjustment of figures for the industry groups and the totals to levels indicated by 1946
data2 made available by the Bureau of Employment Security of the Federal Security Agency.
Monthly averages for the entire year. For monthly data beginning May 1947, see pp. S-ll and S-12 of the July 1948 SURVEY and later issues.
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rnai
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SUEVEY OF CUEEENT BUSINESS
20
March 1949
Value of Manufacturers* Inventories, 1938-45—Data for Page S-3
[Millions of dollars]
Durable-goods industries
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11
Nondurable-goods industries
CD
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1
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3
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EH
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-it
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?PH •8«
0
1938—December
10, 803 4,864 1,483
375
387
968
448
157
269
281
496 5,939 1,194
296
554
831
264
283
188
759
885
208
477
1 939—January
February
March
April _ _
May
June
--
10, 888 4,873
4,895
ID', 783 4,852
10, 631 4,772
10, 556 4,698
10, 488 4,623
1,461
1,459
1,422
1,389
1,368
1,359
385
389
401
403
403
406
383
382
383
378
375
369
981
987
985
984
972
960
459
468
451
420
380
340
155
162
165
174
192
199
277
280
289
275
270
269
284
289
285
287
282
276
488
479
471
462
456
445
6,015
5,970
5,931
5,859
5,858
5,865
1,164
1,100
1,115
1,048
1,047
1,036
295
294
298
298
300
302
578
576
571
562
553
543
836
839
830
820
820
788
272
267
263
267
284
278
282
288
276
280
279
281
197
200
209
205
201
202
782
782
768
775
763
778
889
897
897
901
902
904
208
209
210
213
213
208
512
518
494
490
496
545
10, 562
10, 632
10, 665
10, 896
11, 258
11,516
4,625
4,686
4,743
4,869
5,040
5,172
1,372
1,396
1,406
1,466
1,529
1,543
414
410
399
386
391
389
956
369
956
374
963
370
976
376
391 1,007
412 1,038
325
375
454
498
512
525
206
211
216
221
244
263
268
261
251
256
266
282
277
275
270
274
280
294
438
428
414
416
420
426
5,937
5,946
5,922
6,027
6,218
6,344
1,069
1,148
1,162
1,199
1,257
1,266
294
299
302
307
301
303
534
543
547
562
574
576
807
802
836
890
923
916
274
255
241
243
265
284
284
279
278
281
289
303
209
212
212
207
209
201
774
769
757
763
779
817
905
877
874
886
899
910
205
202
203
194
209
225
582
560
510
495
513
543
11, 750
11,852
11,804
11, 747
11, 784
11, 823
5,285
5,350
5,332
5,291
5,318
5,315
1,542
1,537
1,504
1,476
1,500
1,531
395
410
415
418
427
435
425
434
441
443
447
447
1,076
1.105
1,115
1,112
1,116
1,115
538
528
511
495
471
416
279
297
301
298
309
324
294
299
301
299
294
293
304
304
306
304
307
306
432
436
438
446
447
448
6,465
6,502
6,472
6,456
6,466
6,508
1,227
1,192
1,149
1,118
1,089
1,100
309
313
314
314
319
315
609
614
619
606
595
578
940
935
949
950
947
950
295
290
281
282
291
294
316
326
330
328
323
323
202
208
212
210
212
219
837
854
862
867
856
861
912
938
948
955
967
952
235
245
248
250
253
243
583
587
560
576
614
673
July
August
September
October
November •
December
lS,031
12, 220
12, 275
12, 436
12, 644
12, 873
5,378
5,560
5,671
5,795
5,946
6,127
1,577
1,610
1,623
1,653
1,695
1,741
436
440
436
430
430
421
450
452
455
470
485
509
1,126
1,132
1,147
1,174
1,201
1,234
397
518
587
594
600
621
348
371
400
442
486
524
296
294
290
290
297
311
308
306
304
302
306
320
440
437
429
440
446
446
6,653
6,660
6,604
6,641
6,698
6,746
1,164
1,246
1,237
1,237
1,304
1,292
320
324
326
329
329
335
573
567
576
600
592
597
957
924
933
1,007
1,015
996
290
272
260
256
276
289
324
331
335
339
338
341
227
235
227
216
209
209
864
865
857
846
852
875
972
968
970
968
955
963
251
258
261
260
260
265
711
670
622
583
568
584
January
February
Mi arch
April
May
Junfi
13, 141
13, 253
13, 408
13, 657
13, 940
14, 344
6,289
6,404
6,538
6.691
6,862
7,012
1,748
1,754
1,748
1,776
1,811
1,826
425
422
427
444
456
470
540
565
595
623
653
674
1,283
1,312
1,337
1,375
1,418
1,452
629
634
654
681
678
675
571
611
660
669
716
768
320
324
325
326
325
327
319
321
324
322
323
324
454
461
468
475
482
496
6,852
6,849
6,870
6,966
7,078
7,332
1,265
1,215
1,191
1,188
1,234
1,296
338
339
341
391
347
351
627
619
619
601
593
588
999
1,008
1,029
1,053
1,079
1 104
290
283
279
274
288
299
341
345
348
343
341
353
214
218
225
235
245
252
899
972
983
915
925
999
946 1,014
955 1,026
972 1,044
275
283
295
299
303
306
632
641
619
622
667
767
July.
August
September
October
November
December
14, 857
15, 285
15, 535
15, 970
16, 374
17,024
7,158
7,438
7,641
7,863
8,022
8,352
1,851
1,854
1,847
1,856
1,873
1,956
474
483
. 489
489
501
492
699
728
739
786
807
824
1,489
1,542
1,559
1,639
1,694
1,750
637
760
865
877
883
923
836
890
943
989
999
1,073
339
338
339
340
347
369
328
33
335
346
352
37
505
512
525
541
566
586
7,699
7,847
7,894
8,107
8,352
8,672
1,473
1,629
1,619
1,604
1,691
1,739
351
357
362
391
398
401
580
584
625
670
670
686
1,139
1,115
1,123
1,168
1,206
1,233
302
294
294
305
341
368
363
373
382
392
400
410
270
273
268
265
261
259
1,017
1,042
1,067
1,089
1,133
1,231
1,064
1,066
1,086
1,110
1,138
1,146
311
302
285
281
287
306
829
812
783
832
827
893
17, 472
17, 649
17, 918
18, 098
18, 415
18, 652
8,524
8,634
8,832
9,012
9,192
9,322
1,954
1,950
1,970
2,003
2,054
2,082
490
503
502
528
528
540
835
846
855
882
890
916
1,804
922
1,836
926
989
1,871
1,917
993
1,958 1,06
1,982 1,081
1,127
1,149
1,192
1,228
1,235
1,271
370
367
371
358
350
348
39
40
39
39
39
39
628
655
685
705
719
710
8,948
9,015
9,086
9,086
9,223
9,330
1,815
1,767
1,748
1,718
1,695
1,671
407
398
389
395
398
405
719
736
733
720
702
692
1,265
1,290
1,315
1,325
1,385
1,419
385
386
389
387
400
399
409
417
424
423
435
451
268
279
292
303
308
303
1,284
1,304
1,324
1,328
1,337
1,368
1,157
1,185
1,187
1,186
1,164
1,143
921
318
936
317
328
957
325
976
339 1,060
347 1,132
18,834
18,89
18, 778
18,77
19,02
19,22
9,42
9,463
9,50
9,64
9,84
10, 073
2,084
2,100
2,099
2,127
2,159
2,194
542
541
540
529
519
509
949
976
996
1,025
1,036
1,022
2,014
2,020
2,038
2,063
2,086
2,137
1,12
1,15
1,190
1,213
1,22
1,19
1,292
1,288
1,300
1,376
1, 521
1,726
342
342
331
331
329
340
38
36
35
34
33
34
693
673
657
633
634
608
9,412
9,435
9,273
9,13
9,176
9,148
1,681
1,732
1,706
1,652
1,744
1,822
417
422
404
430
442
437
679
702
732
767
765
798
1,439
1,406
1,396
1,387
1,377
1,324
394
379
367
357
368
361
463
467
469
459
448
428
291
285
280
270
264
266
1,356
1,348
1,305
1,272
1,247
1,264
1,124
1,136
1,126
1,122
1,107
1,117
356
365
361
359
362
361
,212
,193
,127
,062
,052
970
19,13
18,97
18,97
19,01
19,06
19,12
9,973
9,984
10, 130
10,26
10,25
10,39
2,169
2,150
2,148
2,12
2,11
2,108
504
507
516
52
526
53 '
1,033
1,043
1,065
1,079
1,088
1,108
2,162
2,15
2,16
2,15
2,14
2,11
1,14
1,16
1,22
1,25
1,23
1,29
1,685
1,727
1,773
1,865
1,872
1,982
336
322
319
312
310
308
34
34
34
34
34
33
589
575
567
602
623
608
9,158
8,992
8,846
8,74
8,80
8,725
1,780
1,710
1,674
1,660
1,705
1,677
440
418
408
39
379
363
852
867
852
846
824
796
1,321
1,275
1,253
1,257
1,287
1,283
354
345
342
340
346
329
414
413
408
404
398
394
268
270
273
279
287
294
1,255
1,259
1,249
1,237
1,241
1,253
1,123
1,127
1,116
1,093
1,080
1,066
356
355
365
373
379
364
995
953
906
867
881
906
July
August
September. _ _
October _
November
December
19,18
19, 13
19,21
19,41
19,61
19,89
10,320
10,25
10,41
10,47
10,45
10,72
2,11
2,160
2,16
2,18
2,16
2,15
556
559
58
609
619
625
1,104
1,113
1,132
1,126
1,149
1,094
2,076
2,06
2,05
2,010
2,02
2,00
1,27
1,25
1,27
1,28
1,29
1,42
1,95
1,869
1,965
2,024
1,96
2,188
304
310
31
315
31
32
33
32
32
32
32
33
603
602
606
598
600
576
8,863
8,880
8,79
8,94
9,15
9,16
1,838
1,873
1,816
1,912
1,957
1,960
32
32
323
34
52
47
763
771
793
805
817
854
1 272
1,249
1,236
1,247
1,218
1,184
322
311
304
300
323
317
393
397
398
394
388
384
306
314
314
303
285
278
1,28
1,29
1,29
1,326
1,34
1,382
1,053
1,046
1,03
1,040
1,039
1,050
355
349
351
354
356
363
953
951
927
923
913
918
1944—January
February. _ _
March
April. _ .
May
June
19,96
19,97
19,82
19,78
19,63
19,55
10,66
10, 61
10,463
10,47
10,41
10,38
2,110
2,09
2,05
2,04
2,05
2,08
648
644
62
61
61
59
1,064
1,076
1,09
1,096
1,116
1,110
2,02
2,04
2,07
2,08
2,05
2,07
1,38
1,39
1,40
1,38
1,43
1,40
2,213
2,153
2,016
2,01
1,919
1,898
306
303
292
295
306
304
33
33
33
33
33
32
582
56
564
598
586
576
9,30
9,360
9,35
9,31
9,22
9,17
1,976
1,950
1,891
1,838
1,763
1,799
496
500
496
515
514
515
902
927
933
908
873
849
1,204
1,181
1,170
1,151
1,146
1,128
323
325
331
335
333
334
384
391
401
407
406
402
264
269
274
278
286
285
1,369
1,379
1,404
1,413
1,422
1,425
1,047
1, 056
1,088
1,104
1,136
1,105
975
365
377 1,005
986
384
972
391
956
387
954
376
19,60
19,55
19,33
19,42
19,17
19,12
10,28
10,27
10,220
10,24
10,01
9,95
2,11
2,12
2,10
2,09
2,07
2,03
57
57
55
53
52
57
1,108
1,110
1,08
1,06
1,068
1,04
2,07
2,02
2,03
2,03
2,03
1,99
1,39
1,38
1,39
1,40
1,34
1,39
1,823
1,86
1,879
1,850
1,79
1, 743
303
31
299
29
293
30
32
32
32
31
31
32
560
56
54
63
56
52
9,31
9,27
9,11
9,18
9,16
9,17
1,972
1,88
1,804
1,90
1,888
1,87
440
48
49
49
50
51
83
828
837
853
88
925
1,154
1,146
1,113
1,135
1, 164
1,193
337
332
324
320
323
320
408
410
403
398
385
378
295
297
293
286
283
283
1,435
1,435
1,419
1,40
1,38
1,38
1,103
1,113
1,119
1,128
1,127
1,123
362
359
364
365
369
357
979
983
942
895
855
820
19,08
18,91
18,86
18,88
18,70
18,49
9,87
9,78
9,83
9,88
9,84
9,67
2,01
2,00
2,03
2,07
2,12
2,03
58
57
59
59
59
59
1,04
1,01
1,03
1,02
1,02
1,04
2,03
2,02
2,06
2,07
2,07
2,02
1,36
1,36
1,37
1,37
1,33
1,30
1,67
1,65
1,61
1,62
1,58
1,56
30
29
30
31
31
31
31
31
31
30
30
30
53
520
50
490
48
48
9,21
9,12
9,03
9,00
8,86
8,82
1,783
1,65
1,58
1,619
1,513
1,529
54
540
53
53
52
50
1,000
1,033
1,04
1,012
98
970
1,252
1,247
1,249
1,23.
1,233
1,194
322
324
331
339
338
347
367
366
364
362
358
371
285
291
289
288
279
308
1,359
1,354
1,34
1,33
1,36
1,35
1,110
1,112
1,114
1,104
1,099
1,092
358
370
366
365
370
370
841
840
813
810
794
782
1,54
1,33
1,18
1,14
91
744
30
31
31
320
313
324
29
29
29
29
29
30
48
49
49
48
48
47
9,05
9,06
9,10
9,33
9,60
9,58
1,694
1,68
1,71
1,790
1,91
1,848
51
50
50
53
55
57
959
1,006
1,04
1,08
1,13
1, 14S
1,213
1,180
1,189
1,238
1,280
1,281
347
339
349
343
353
349
385
401
405
414
418
429
310
314
294
287
289
304
1,37
1,37
1,38
1,388
1,39
1,396
1,104
1,108
1,09
1,122
1,142
1,138
380
377 .
366
345
343
346
766
773
765
784
770
773
__
.
July
August
September
October
Novernbfr
December
1940 — January
February
MarchApril
May
June
1941
__
1942— January
February
March
April
May
June
July
August
September
October .
November
December
1943— January
February
March
April
. May
June
July
August
September
October
November
December
1945— January
February
March
April
May
June___ __ _
__
1,04 1,98 1,28
60
July .
18,67 9,62 2,07
62
1,07 1,92 1,04
August.
18,23 9,17 2,07
62
1,03 1,89 1,06
September
18,09 8,98 2,07
62
1,01 1,83 1,09
October
18,20 8,87 2,06
98 1,85 1,08
61
November
18,23 8,63 2,08
83 1,81 1,09
63
17,92 8,33 2,09
December
_ _
Source: U. S. Department of Commerce, Office of Business Economics.
BUSINESS STATISTICS
DATA here are a continuation of the statistics published in the 1947 Statistical Supplement to the SURVEY OF CURRENT BUSINESS.
That volume contains monthly data for the years 1941 to 1946, and monthly averages for earlier years back to 1935 insofar as available; it also
provides a description of each series and references to sources of monthly figures prior to 1941. Series added or revised since publication of the
1947 Supplement are indicated by an asterisk (*) and a dagger (f), respectively, the accompanying footnote indicating where historical data and
a descriptive note may be found. The terms "unadjusted" and "adjusted" used to designate index numbers refer to adjustment of monthly
figures for seasonal variation.
Data subsequent to January for selected series will be found in the Weekly Supplement to the Survey.
Unless otherwise stated, statistics through
1946 and descriptive notes may be found in
the 1947 Supplement to the Survey
1949
1948
January
February
March
April
May
June
July
August
September
October
December
November
January
GENERAL BUSINESS INDICATORS
NATIONAL INCOME AND PRODUCTf
Seasonally adjusted quarterly totals at annual rates:
National income, total
_ bil. of dol__
Compensation of employees, total
do
Waees and salaries, total
do __
Private
do
Military
_
do. _Government civilian
do
Supplements to wages and salaries
do _
Proprietors' and rental income, total _ do_ _Business and professional
do
Farm
•
_
do_ __
Rental income of persons
do
Corporate profits and inventory valuation adjustment, total
__
__bil. of dol_.
Corporate profits before tax, total
do
Corporate profits tax liability
_,do
Corporate profits after tax
do
Inventory valuation adjustment
_.do
Net interest
do
213.9
K4.0
129 1
111.4
34
14 2
49
49 9
24.8
17 6
75
222.3
136 3
131 3
113.2
3 5
14.6
5.0
51 6
25.3
18.9
7.4
228.2
142.4
137.4
118.2
3.5
15.6
51
50 6
25.2
18.1
7.4
233.2
144.7
139.6
119.6
3.7
16.2
5.1
51.4
25.6
18.4
7.4
25.3
30 5
11 8
18.7
53
4.7
30.6
32.1
12.5
19.6
—2 5
4.8
30 2
34.0
13 3
20.8
—3 9
5.0
4
5.2
Gross national product, total
do
Personal consumption expenditures,total do
Durable goods
*
do
Nondurable goods . _ _ _ _ _ _
d o __
Ser vices
do
Gross private domestic investment
_.do_ _.
New construction
do
Producers' durable equipment
do. .
Change in business inventories
__do
Net foreign investment
do
Government purchases of goods and services,
total
bil. of dol...
Federal (less Government sales) _
do
State and local
__do
244.9
172.5
21.3
101.4
49 8
38.0
14 3
19.8
3.9
3.9
251.9
177 3
22.8
103.7
50.8
38.0
14.4
21 0
2.6
2.7
258. 1
180.1
23.7
104.3
52.1
40.2
14.8
21.9
3.5
—.3
264.9
181.0
22.9
105.1
53.0
42.8
14.7
22.7
5.3
—.4
30.5
16 7
13.7
33.9
19.1
14.8
38.2
22 7
15 5
41.5
25.2
16.3
Personal income, total..
Less: Personal tax and nontax payments
Equals" Disposable personal income
Personal savings§
207.0
23.0
183 9
11.4
-
210.8
20.6
190 2
12.9
216.3
20.0
196.2
16.1
do
do
do
do
---
—
-
219.6
20 2
199.4
18.4
PERSONAL INCOME BY SOURCEt
Seasonally adjusted, at annual rates:
Total personal income. ._
___bil. of doL.
Wage and salary receipts, total
.
do
Employer disbursements, total
.do _
Commodity-producing industries
.do
Distributive industries
. _ do_
Service industries
_
do
Government
do
Less employee contributions for social insurance
bil. of dol__
Other labor income
do
Proprietors' and rental income _ _ _ . __do_
Personal interest income and dividends. __do
Total transfer payments
do
Total nonagricultural income
do
208.8
127.4
129.6
58.9
37.5
15.5
17.7
206.4
126.8
128.8
57.8
37.8
15.6
17.6
205.7
126.6
128.7
57.7
37.6
15.6
17.8
208.6
126.8
128.8
57.3
37.8
15.9
17.8
209.2
129.0
131.0
58.5
38.6
15.9
18.0
214.4
131.4
133.6
60.4
38.8
16.1
18.3
214.8
133.4
135.6
60.9
39.5
16.4
18.8
216.7
135.9
138.0
62.3
40.0
16.5
19.2
217.3
136.7
138.9
63.0
40.0
16.4
19.5
218.5
137.5
139.6
63.0
40.2
16.6
19.8
219.9
138.0
140.1
63.8
39.7
16.6
20.0
' 221. 0
'r 137. 7
139. 9
'63.6
'39.8
'16.6
'19.9
220.8
136.0
138.3
62.4
39.4
16.5
20.0
2.2
1.9
51.8
16.5
11.2
2.0
2.0
49.6
16.6
11.4
2.1
1.9
48.4
16.6
12.2
2.0
2.0
51.2
16.7
11.9
2.0
2.0
50.4
16.8
11.0
2.2
2.0
53.0
16.8
11.1
2.2
2.1
51.7
17.0
11.1
2.1
2.1
50.3
17.3
11.1
2.2
2.1
50.4
17.5
10.6
2.1
2.1
50.7
17.8
10.4
2.1
2.1
51.4
18.1
10.3
2.2
2.1
'52.1
18.4
'10.7
2.3
2.1
53.0
18.6
11.1
184.3
184.3
185.1
185.3
186.6
189.7
191.3
193.8
195.0
195.6
196.3
' 197. 4
195.7
NEW PLANT AND EQUIPMENT EXPENDITURES
4,170
4,820
4,830
All industries, total
mil of dol
i 5 010
500
640
690
Electric and gas utilities
do
'780
2,140
1,800
2,090
!2,160
Manufacturing
_
_ _ _ _
do
180
200
200
1180
Mining
do
270
310
1400
330
Railroad
. . .
do
180
190
1160
170
Other transportation
do
1
1,240
1,340
Commercial and miscellaneous
do
1, 330
1,360
' Revised.
* Estimates based on anticipated capital expenditures of business.
§ Personal savings is excess of disposable income over personal consumption expenditures shown as a component of gross national product above.
f Revised series. Estimates of national income, gross national product, and personal income have been revised beginning 1944; see pp. 27-29 of the July 1948 Survey fo the revised figures.
S-l
SURVEY OF CURRENT BUSINESS
S-2
Unless otherwise stated, statistics through
1946 and descriptive notes may be found in
the 1947 Supplement to the Survey
March 1949
1949
1948
January
February
March
April
May
June
July
August
December
January
2,553
2,538
1,258
1,280
September
October
November
3,132
3,127
1,583
1 544
3,714
3,707
2,135
1,572
3,314
3,304
1,725
1,579
2,740
2,730
1,309
1,421
333
936
282
296
937
330
'298
305
753
215
GENERAL BUSINESS INDICATORS—Continued
FARM INCOME AND MARKETINGS
Cash receipts from farming, including Government
payments, totalj
_ mil. of dol
From marketings and CCC loans, total
do
Crops
_ _do_ __
Livestock and products, total
do
Dairy products
do
Meat animals
_ do
Poultry and eggs
do
Indexes of cash receipts from marketings and CCC
loans, unadjusted:}:
All commodities
£
1 935-39 = 100. .
Crops
_do
Livestock and products
do
Indexes of volume of farm marketings, unadjusted:!
All comm odities
1935-39 =100
Crops
do __
Livestock and products
do
2,571
2,545
1,034
1,511
1,862
1,833
713
1,932
1,892
629
2,075
2,006
629
2,119
2,081
2,437
2,394
618
781
1,263
1,377
1, 463
318
593
201
373
645
237
392
720
250
1,613
460
725
255
468
873
243
383
362
399
276
250
295
285
220
333
308
235
364
313
216
386
131
123
136
108
100
114
109
82
129
113
76
141
189
190
188
197
197
197
Durable manufacturesc?
do
Iron and steel cf
do
Lumber and products
- -do
Furniture
__do
Lumber
do_ __
Machinery
_
do
Nonferrous metals and products
do
Fabricating
-- _-do
Smelting and refining
do
Stone clay and glass products
do
Cement
do
Clay products
do
Glass containers
__do
Transportation equipment
do
Automobiles (incl. parts)
do
226
203
138
179
117
285
195
198
188
190
161
166
196
224
203
137
178
116
284
199
202
190
193
158
160
201
228
207
143
178
125
283
. 201
244
206
Nondurable manufactures
do. __
Alcoholic beverages
do
Chemicals
-do
Industrial chemicals
do
Leather and products
do _ _
Leather tanning
- - do
Shoes
do
Manufactured food products
-do
Dairy products
-do
Meat packing
do _ _
Processed fruits and vegetables
do
Paper and products
do
Paper and pulp
- __do
Petroleum and coal products
do
Coke
do
Printing and publishing
do
Rubber products
do
Textiles and products
do
Cotton consumption
do _
Rayon deliveries
- _-do
Wool textile production
do _
Tobacco products «
_
do
INDUSTRIAL PRODUCTION
Federal Reserve Index
Unadjusted combined index d1
1935-39=100-Manufactures
-
-- do
329
968
206
1,120
2,693
2,683
1,203
1 480
2,722
2,716
1,235
1,481
430
783
246
367
902
254
360
274
426
404
421
391
409
433
391
471
554
407
558
747
415
497
604
417
'411
'458
'375
382
441
338
118
76
150
130
98
154
144
153
137
146
163
133
170
215
135
206
286
146
176
209
150
160
186
140
157
187
134
186
192
193
187
194
197
'199
195
••190
"187
193
197
199
193
200
203
205
'202
'197
"195
222
208
144
163
134
273
196
194
203
211
196
171
233
223
208
148
161
141
277
193
193
193
209
203
175
206
220
201
151
157
148
269
185
184
187
201
207
168
198
224
207
158
163
156
271
186
185
190
218
210
180
227
227
214
153
165
147
273
192
192
193
216
213
175
231
232
221
154
170
145
277
192
192
191
229
'229
'223
'132
204
193
201
160
169
219
217
177
144
169
131
275
200
199
203
208
183
168
227
"226
"228
"120
"158
"100
"267
"183
"182
"187
"191
232
192
240
202
237
197
218
179
222
185
233
202
230
198
231
197
'243
'209
173
142
253
437
120
117
122
146
"87
175
92
163
157
176
176
253
434
126
124
127
144
"99
141
91
163
159
173
172
252
433
114
101
123
141
174
178
251
439
110
105
113
143
177
173
249
436
108
109
107
153
179
186
253
449
108
105
110
163
171
188
247
433
94
90
96
172
180
184
256
450
112
103
119
174
183
203
258
446
114
109
117
173
"155
185
195
257
448
118
106
126
188
" 201
"224
"223
"198
"158
*214
"215
" 119
121
85
167
160
116
90
169
163
"211
"213
127
97
170
164
151
122
165
160
"220
"220
137
159
200
175
147
298
179
173
do
_ do__
do
do
do _
do
149
160
112
161
165
81
149
161
118
155
167
83
136
146
108
97
169
82
145
149
105
102
171
126
164
168
116
171
172
144
do
193
194
191
188
192
do_ _ _
201
201
200
195
197
198
192
197
Durable manufactures c?
do_ __
Lumber and products
do _
Lumber
do
Nonferrous metals
_ _ . _do__ _
Smelting and refining
do
Stone, clay, and glass products
_ do__
Cement. _ _ __ __
do
Clay products
do__
Glass containers
do
229
155
143
195
188
202
199
179
200
226
150
135
199
190
207
208
168
208
229
151
137
201
192
211
196
176
219
217
145
132
200
203
211
193
173
227
221
142
131
196
203
206
187
172
218
222
140
129
194
194
207
190
176
208
219
142
135
185
188
200
188
168
206
223
148
140
186
190
210
186
175
218
Manufactures^1
.
170
137
200
154
115
"221
166
153
205
175
147
303
177
155
Adjusted, combined indexcT
175
156
205
174
140
313
176
173
"217
111
203
165
160
179
155
215
179
153
296
185
147
__
174
159
201
177
147
308
179
163
126
184
149
145
178
144
223
179
153
300
181
153
Minerals
>_
Fuels
Anthracite
Bituminous coal
Crude petroleum
Metals
295
816
446
744
259
124
317
165
159
"207
137
154
178
147
207
166
127
318
168
184
163
164
105
157
173
153
158
160
100
143
172
147
164
166
117
158
174
149
160
162
119
156
170
148
192
186
191
192
••324
181
155
205
168
132
"220
214
180
230
r224
142
169
128
'276
188
192
176
"208
211
179
193
'168
113
r277
'184
'185
'183
"200
'191
'178
172
"168
'248
'212
"252
"215
179
212
'171
"169
'258
••449
'258
'450
'238
'203
174
99
103
'97
153
"251
"438
"107
142
104
103
104
161
"95
173
••197
'129
'111
"92
179
"90
"217
"227
'183
"230
"160
"154
"227
'199
'156
"193
"162
"146
"159
"122
172
167
181
167
205
167
129
319
168
180
'322
166
178
169
163
163
203
164
122
322
162
173
'153
"92
181
153
149
184
158
114
317
151
136
"109
"146
184
150
123
316
158
'114
151
164
103
145
177
'77
195
195
'192
"191
199
202
201
'199
"198
225
143
132
192
193
207
183
169
226
••231
'231
147
135
192
191
229
145
133
187
175
"210
"203
"229
" 135
" 123
"183
" 187
"204
r
161
166
118
152
176
132
184
171
224
160
167
116
155
177
195
172
'189
143
131
'184
'183
"205
212
'173
185
"88
"145
"171
"69
f 180
178
180
177
177
178
179
Nondurable manufactures
do
178
179
173
169
177
178
" 174
182
191
167
198
167
170
179
Alcoholic beverages. .
_
. do .
173
217
189
186
197
181
252
255
249
Chemicals
do
250
249
256
259
257
'257
251
255
' 257
" 252
123
115
110
108
120
109
Leather and products
do
113
119
96
114
103
'100
" 107
116
102
105
116
109
Leather tanning
_
_
do
107
95
105
108
108
100
103
158
158
160
157
159
163
Manufactured food products
do
163
159
160
156
161
' 158
" 158
t> 144
"145
"149
" 151
"139
"139
"152
Dairy products. _
_
_ _ _ _ do
"152
"154
"144
" 148
" 150
" 144
125
147
131
152
Meat packing
do
150
127
135
126
133
155
141
154
" 152
141
144
155
147
150
159
Processed fruits and vegetables. - _do__ _
142
107
162
' 152
' 140
'142
" 138
163
163
166
168
169
165
Paper and products
do
150
165
166
172
169
153
" 160
158
163
164
157
160
159
Paper and pulp
do
146
160
163
160
167
150
"154
r
Revised.
" Preliminary.
5 Seasonal factors for a number of industries were fixed at 100 during 1939-42; data for these industries are shown only in the unadjusted series.
J Data have been revised beginning January 1946 to incorporate revisions in reports on production and sales of farm products; revised figures for January 1946-June 1947 will be published
later. Annual indexes of volume of farm marketings for 1941 and 1945-46, which supersede monthly averages for these years shown in the 1947 Supplement, are published in the table on the
back cover of the February 1949 Survey. These annual indexes include revisions in marketings data, and also for 1945 adjustments to 1945 Census data, which have not been incorporated in the
monthly indexes for these years; data for 1940-44 for all series and also monthly indexes of volume of farm marketings for 1945, are subject to further revisionx to adjust the series to Census data.
cf Unpublished revisions in 1947: Unadjusted—combined index, January, 185; May, 186; durable manufactures, July, 209; iron and steel, January-August, 193, 192, 197, 196, 198, 194, 182
189; adjusted indexes—total manufactures, April ,195; May, 192; durable manufactures, February, 223; July, 208; August, 211. For explanation of revision, see note in the January 1949 SURVEY,
revisions beginning September 1947 were shown in the November 1948 issue.
SURVEY OF CURRENT BUSINESS
March 1949
Unless otherwise stated, statistics through
1946 and descriptive notes may be found in
the 1947 Supplement to the Survey
S-3
1949
1948
January
February
March
April
May
June
July
August
September
October
November
December
January
GENERAL BUSINESS INDICATORS—Continued
%
INDUSTRIAL PRODUCTION— Continued
Adjustedl— Continued
M anuf actures— C ontinued
Nondurable manufactures—Continued
Petroleum and coal products. _ .1935-39 =100_Printing and publishing
do __
Textiles and products
do
Tobacco products
do
Minerals
do
Metals
do
*214
148
179
153
154
117
J-215
157
179
155
155
120
p211
150
175
164
142
118
*213
154
175
183
147
137
*220
156
177
163
162
128
*>220
157
174
166
159
128
p217
147
154
148
153
113
*221
155
166
178
159
115
*207
154
168
'168
156
119
"217
164
167
174
158
'113
*227
156
164
170
••161
r
!21
*230
154
-•156
146
156
'110
P227
*>156
P162
159
*>151
P105
33, 928
16, 552
6,408
10, 144
7,692
1,901
5,791
9,684
32, 294
16, 225
6, 465
9,760
7,121
1,893
5,228
8,948
36, 577
18, 117
7,381
10, 736
7,726
2,176
5, 550
10,734
35, 586
17, 229
6,865
10. 364
7,652
2,225
5,427
10, 705
34, 948
16, 777
6,613
10, 164
7,389
2,076
5,313
10, 782
36, 511
17, 871
7,184
10, 687
7,766
2,145
5,621
10, 874
34,937
16, 403
6,473
9,930
7,796
2,088
5,708
10, 738
37, 004
18, 169
7, 159
11,010
8, 161
2,254
5,907
10, 674
38, 125
18, 781
7,566
11,215
8,286
2,290
5,996
11, 058
38, 725
18, 807
7,750
11, 057
8,376
2,321
6,055
11, 542
37, 248
17, 987
7,472
10, 515
8,242
2,178
6,064
11, 019
' 39, 585
' 18, 195
' 7, 725
' 10, 470
' 8, 196
' 2, 134
6,062
' 13, 194
33, 469
16, 859
6,956
9,903
7,192
1,769
5,423
9,418
49, 130
28, 501
13, 456
15, 045
50, 278
28, 768
13, 525
15, 243
51, 213
29, 064
13, 566
15, 498
51, 102
29, 161
13, 692
15, 469
51, 230
29, 437
13, 780
15, 657
51, 317
29, 727
13, 849
15, 878
51, 664
30, 236
13, 967
16, 269
52, 501
30, 429
14, 032
16, 397
53, 648
30, 710
14, 252
16, 458
'
'
'
'
54, 184
31, 998
15, 088
16, 910
12, 323
7,865
8,313
7,850
2,594
5,256
12, 779
12, 067
7,858
8,843
7,885
2,664
5,221
13, 625
12, 149
7,874
9,041
7,869
2,751
5,118
14, 280
12, 197
7,882
9,082
7,777
2,803
4,974
14, 164
12, 205
7,918
9,314
7,801
2,810
4,991
13, 992
12, 473
7,726
9,528
7,953
2,848
5.105
13,637
12, 735
7,833
9,650
7,930
2,836
5,094
13, 498
12, 802
7,966
9,633
8,100
2,818
5,282
13, 972
12, 779
8,103
9,828
8,243
2,853
5,390
14, 695
BUSINESS SALES AND INVENTORIES f
Business sales, total
._
mil. of dol_
Manufacturing, total
do
Durable goods industries
do
Nondurable goods industries
do __
Wholesale
do
Durable goods establishments
do
Nondurable goods establishments
do__ _
Retail
do
Business inventories, book value, end of month,
total
.
mil. of dol
Manufacturing, total
_
do
Durable goods industries
do
Nondurable goods industries
__do
By stages of fabrication:
Purchased materials
do
Goods in process
do
Finished goods
_
do
Wholesale
do
Durable goods establishments
_ _ do
Nondurable goods establishments
do __
Retail
do
' 54, 532 ' 55, 384
31, 225
30, 848
14, 334
14, 580
16, 514
16,645
12,855
8,064
9,930
' 8, 400
2,881
'5,519
15,284
54, 019
31, 766
14, 837
16, 929
12, 885 ' 12, 963
8,072
' 8, 100
10, 268 ' 10, 703
' 8, 507 ' 8, 315
2,957
2,980
' 5, 560 ' 5, 335
15, 652 ' 13, 938
12, 814
8,225
10, 959
8,543
3,129
5,414
13, 64a
MANUFACTURERS' SALES, INVENTORIES,
AND ORDERS— INDEXES OF VALUE f
326
328
311
331
324
Sales, total
__ .average month 1939= 100. _
336
341
352
308
354
367
342
330
365
329
360
353
353
Durable goods industries _
do
368
369
333
399
404
398
372
••399
345
325
336
338
Iron, steel, and products.
.do
325
341
362
301
386
393
391
380
'386
410
364
415
419
421
Nonferrous metals and 1products
do
415
422
503
350
487
456
419
'466
Electrical ma^hin^ryft* d aqniprnp, rit
do
442
386
446
431
440
452
414
472
410
495
489
448
'499
304
363
356
356
350
Machinery except electrical
do
347
381
317
359
348
376
-•565
333
424
435
383
401
413
Automobiles and equipment __
- - do
433
437
503
438
503
488
487
'507
Transportation equipment, except automo524
446
493
486
500
biles
average month 1939=100
540
457
503
579
553
540
544
'611
270
273
308
248
264
Furniture and finished lumber products... do
256
259
226
257
270
290
234
'250
222
252
263
223
274
Stone, clay, and glass products
_ do
273
289
267
302
285
293
233
'255
277
271
276
261
255
262
282
Other durable goods industries
do
264
248
268
289
230
243
314
301
306
314
307
Nondurable goods industries
do
317
294
324
326
328
346
306
'311
321
305
297
313
Food and kindred products
_ _ do
299
326
315
312
310
322
349
'304
313
273
268
251
286
294
Beverages
do
311
345
378
375
358
378
'341
326
350
301
345
327
333
Textile-mill products, excluding apparel. -do
340
269
342
334
344
378
294
'305
300
240
303
327
266
Leather and products
do
245
256
309
277
318
283
324
'269
320
334
333
332
338
Paper and allied products
_ _ _ do _
330
342
301
348
352
348
306
'312
235
271
271
Printing and publishing
do
268
263
232
269
266
316
313
329
242
'291
320
327
315
327
334
Chemicals and allied products
_ . . do
292
331
320
322
341
308
'285
308
322
328
336
337
Petroleum and coal products
do_ __
318
329
341
337
345
353
340
346
373
282
252
289
312
Rubber products
do
317
342
351
339
344
345
330
349
206
216
218
233
Tobacco manufactures..
do _
225
249
245
264
232
259
251
241
233
341
296
329
313
Other nondurable goods industries
do
326
316
254
341
344
353
338
'304
281
265
274
268
Inventories, book value, end of month, total .do
271
271
277
283
281
286
287
291
29S
296
279
284
286
281
Durable goods industries _
do
281
291
288
290
302
296
297
313
'308
202
205
Iron, steel, and products.. __
_do
205
206
213
226
218
227
241
233
236
243
243
249
262
262
250
Nonferrous metals and products
do
257
263
271
276
284
287
287
'299
303
372
376
384
394
Electrical machinery and equipment
do_. .
388
397
396
398
401
403
400
'405
417
291
293
Machinery, except electrical
do
295
297
297
299
298
298
303
309
301
'312
317
462
472
Automobiles and equipment
do
473
472
479
476
475
476
482
486
492
'510
536Transportation equipment, except automo633
632
625
632
biles
average month 1939=100
630
625
635
629
642
654
639
674
'671
241
242
234
Furniture and finished lumber productsj.do
255
259
259
260
261
252
252
247
255
265
168
165
161
Stone, clay, and glass products
do _
, 163
163
159
159
166
172
174
179
'187
189
Other durable goods industries J
do
218
213
202
204
189
189
183
184
187
192
194
'194
191
254
262
Nondurable goods industries
do
261
264
257
274
268
277
279
278
281
286'286
255
244
Food and kindred products
do
243
236
229
227
237
240
235
238
249
253
260
Beverages..
do 357
355
356
376
359
372
358
359
364
361
363
'364
359238
249
Textile-mill products, excluding apparel. -do
256
255
253
256
261
262
258
256
254
'255
258
Leather and products
do
241
241
229
238
251
264
262
258
244
254250
'266
268
Paper and allied products
do
272
268
276
276
287
292
305
311
316
317
315
'314
313
Printing and publishing
__ _
do
362
383
424
398
423
432
433
429
404
418
397
401
396273
Chemicals and allied products
do
279
286
289
285
284
284
282
278
280
286
296
294
Petroleum and coal products
do
177
178
182
194
186
200
207
214
221
226
232
'232
228
271
Rubber products
do
302
283
296
293
295
289
287
284
288
288
302
Tobacco manufactures .
do
234
237
232
229
225
227
229
239
258
271
265
'267
269
301
Other nondurable goods industries
do
319
332
329
348
375
405
407
412
405
393
'393
405
New orders, total§
__ do
251
251
252
244
257
265
246
251
265
249
254
'237
237
Durable goods industries
do
291
314
287
292
267
307
291
287
303
278
277
'276
285
Iron, steel, and products
do
321
325
371
282
320
311
335
303
314
285
282
'284
293
Machinery, including electrical
do
312
299
284
329
309
330
305
302
323
296
306
'314
327
Other durable goods, excluding transportation equipment
average month 1939=100__
240
243
243
248
239
259
259
260
276
258
250
'238
242
r
Nondurable goods industries
_do
230
227
223
228
230
240
219
230
242
231
240
'213
209
' Revised, v Preliminary.
1 See note marke
d "1" on p.8-2.
§ The new orders indexes are being revised,
t Data for 1946-47 published in the May to Septe mber 1948 issues have, been revised; revisio ns for Janu ary 1946-Jiily 1947 an} available upon reqwJSt.
t Revised series. The series for manufacturers' a nd wholes^ilers' sales and invent ories, retai 1 inventories, and tot al sales an d inventor ies have b een revise<I for all ye ars and es timates of
retail sales beginning 1942. For monthly figures for Ja nuary 1946-March 19 [7 and earlier annual 1igures for raanufaetur ers' sales arid invento ries (excep t as indicat ed in note marked "t ") and an
explanation of the revision, see pp. 8, 9, 23, and 24 of th 3 May 1948 Survey. ]Monthly dsita for valu e of manufcicturers' sa les and inventories for 1938-45 are} on pp. 15 and 20 of itie January and March
1949 issues of the Survey, respectively. For reference to revised data for th 3 retail seri(js and a br 3ak-down c f sales and inventorie 3 by durab le goods an d nonduralDie goods si ores, see p. S-8 of this
issue. Annual data for 1929-47 and data for all mont hs of 1947 f or wholesa e sales and year-end iigures for 1938-47 for vwholesale iriventories iire on pp. 23 and 24 ofthe Augus 1 1948 Survey; revised
data for 1941 for total wholesale sales, durable and nondurable, ire on the )ack cover of theFebi uary 1949 Survey. IN/Tonthly d£ita 1941-46 for sale an 3 1942-47 f(>r inventor ies are on i)p. 23 and
24 of the September 1948 Survey. Sales and inventori3S of service and limite d-function wholesaler s only are Published
\
c urrently 01a p. S-9.
SURVEY OF CUEKENT BUSINESS
S-4
Unless otherwise stated, statistics through
1946 and descriptive notes may be found in
the 1947 Supplement to the Survey
March 1949
1949
1948
January
February
March
April
May
August
July
June
September
October
November
December
January
BUSINESS POPULATION
OPERATING BUSINESSES AND BUSINESS
TURN-OVER
Operating businesses, total, end of quarter.. thous__
Retail trade
do _
All other
do __
New businesses quarterly total
do
3,865.4
290.2
318.4
739 8
1, 768. 2
183.6
565.3
r 3, 893. 8
r 299. 4
' 319. 8
r
745. 5
' 1,
774. 7
r
185. 1
' 569. 3
» 3, 901. 6
9 303. 4
9 319. 3
v 746. 9
9 1, 775. 6
9 185. 5
9 570. 8
94.0
17 5
8.8
20.1
29.1
6.9
11.7
'93.2
r
18 2
'8.4
'18.6
'29.7
'6.1
'12.2
78.1
13 8
7.2
15.4
26.0
5.3
10.4
'64 9
'9.0
'7.0
'12.9
'23.2
'4.6
'81
p70 3
88 2
86.9
Manufacturing
do _
"Wholesale trade
do
Contract construction
do
All other
do
67 2
8.9
7.8
13.3
22.9
5.0
9.3
do
111.4
.Business transfers quarterly
976
9 14 0
925.1
98 8
BUSINESS INCORPORATIONS
New incorporations (4 States)
number..
INDUSTRIAL AND COMMERCIAL
FAILURES
Failures, total
number..
Commercial service
_ _ _ _ _ _ _ do
Construction
do
Manufacturing a n d mining
_ _ _ _ _ _ do
Retail trade
do
Wholesale trade
_ _
_ do
Liabilities, total
thous. of dol
Commercial service
_
do.
Construction
.
__do
Manufacturing and mining
do _
Retail trade
_ _ _ _ _ _ _ _ do
W holesale trade ._ _
__do
3,688
2,479
2,995
2,869
2,594
2,752
2,351
2,084
2,199
2,186
2,181
2,556
2,728
356
29
23
108
417
44
22
151
165
35
25, 619
979
1,987
17, 897
3,410
1,346
477
47
43
136
194
57
17, 481
1,883
957
9,243
3,714
1,684
404
50
30
99
175
50
15,296
1,472
1,662
7,057
2,476
2,629
426
30
31
135
158
72
13, 814
1,058
588
7,030
2,679
2,459
463
49
36
130
194
54
12, 163
1,317
984
5,147
3,037
1,678
420
37
36
119
166
62
13, 876
1,279
1,163
7,208
2,281
1,945
439
35
40
109
194
61
21, 442
9,034
1,861
5,580
3,036
1,931
398
38
37
98
173
52
20, 703
1,032
1,101
12, 165
2,729
3,676
461
52
40
112
188
69
101, 060
77, 709
1,135
14, 160
5,917
2,139
460
31
37
129
208
55
24, 416
1,382
955
15, 933
3, 456
2,690
531
36
64
155
217
59
31, 731
924
2,396
21, 980
4,247
2,184
566
41
53
129
267
76
19 159
1,174
1,892
8 625
4,841
2,627
153
43
12, 965
711
820
6,892
2,837
1,705
COMMODITY PRICES
PRICES RECEIVED AND PAID BY FARMERS
Ptfces received, all farm products.
1909-14=100..
Crops
...
do
Food grain
do
Feed grain and hay_
_ _ _ do
Tobacco
do
Cotton
...
do _
Fruit
do
Truck crops
....
do
Oil-bearing crops
do
Livestock and products _
do
Meat animals
do
Dairy products
do
Poultry and eggs
_
do
Prices paid:
All commodities
_1910-14=^100.
Commodities used in living
do
Commodities used in production
do
All commodities, interest and taxes
do
Parity ratio
do
307
284
322
318
377
267
135
320
377
328
379
313
231
279
257
251
261
374
248
136
320
333
300
331
307
218
283
262
260
284
372
256
140
295
339
302
342
298
212
291
276
268
291
371
275
142
340
351
304
347
296
214
289
267
261
282
370
284
141
262
357
309
361
291
211
295
261
249
278
370
284
155
213
364
326
390
291
221
301
253
240
256
370
266
172
213
366
344
417
300
234
293
236
227
235
386
245
183
172
310
344
411
305
247
290
231
223
223
406
250
185
150
282
343
408
302
253
277
227
226
192
418
251
174
176
270
323
373
289
260
271
224
234
181
412
246
157
186
283
313
351
284
272
268
228
236
184
415
239
164
209
283
305
339
283
260
268
238
232
187
412
236
180
282
274
295
330
275
240
266
272
259
251
122
263
270
255
248
112
262
267
255
247
115
264
268
258
249
117
265
270
259
250
116
266
271
259
251
118
266
273
258
251
120
266
275
254
251
117
265
275
253
250
116
263
273
249
249
111
262
272
249
248
109
262
271
250
248
108
260
267
250
248
108
RETAIL PRICES
All commodities (U. S. Department of Commerce
190.8
190.3
189.0
188.6
195.0
192.1
IQl R
193.5
index)
1935-39—100
195 1
196 2
193 4
192 5
196 3
Coal (IF. S. Department of Labor indexes):
131.9
132.1
132.1
145.5
132.4
132.0
137 1
134.7
Anthracite
1923-25=100
144 9
145 4
145 5
145 5
147 0
146.4
145.7
146.5
147.4
150. 5
Bituminous
do _
152.3
156.7
158 5
' 159 1 159.2
159 2
159 2
159 4
Consumers' price index (U. S. Dept. of Labor) :
167. 5
166.9
168.8
169.3
170.5
171.7
All items
_ _
1935-39=100
173.6
173.7
174 5
174 5
172 2
171 4
170 9
195.1
192.1
196.9
197.5
196.4
196.3
Apparel _ _
_.
do 201.6
197.1
201 0
199 7
201 4
200 4
196 5
207.9
209.7
204.7
210.9
202.3
Food
do
211.5
214.1
216.8
215.2
216 6
207 5
205 0
204 8
172.7
171. 8
171.0
171.1
171.0
Cereals and bakery products
_do
171.2
170.0
171.0
170.7
169.9
170.8
170.2
170.5
204. 4
201.1
205.7
205.8
205.9
204.8
Dairy products
do
203.0
2G9.0
208 7
211 0
199 5
199 2
196 0
206.9
217.4.
208.3
213.0
218.0
Fruits and vegetables...
do
214. 9
193.5
213.4
195.8
189.4
199.6
192.3
205.2
224.8
237.5
224.7
233.8
244.2
Meats, poultry and
fish
__do
255. 1
256.1
261.8
265.3
267.0
246.7
241.3
235.9
129.5
130.0
130.7
130.3
131.8
132.6
134.8
137.8
Fuel, electricity, ana refrigeration t-do
136 8
137.3
137 9
137 8
138 2
93.9
93.2
93.8
93.1
94.1
94.4
94.2
95.4
Gas and electricity
_
_do
94.5
94.6
95.4
95.3
95.5
o
175.4
176.1
174.6
175.5
178.5
180.6
185 0
Other fuels*
do
191 4
191 0
190 1
191 6
191 3
m
194.9
193.0
194.7
192.3
193.6
194.8
195.9
Housefurnishings
_do _
198 8
196 3
198 1
198 7
198 6
1% 5
115.9
116.0
116.5
116.3
116.3
117.0
Rent
_ _
do
118.7
117.3
118 5
117 7
118 8
119 5
119 7
146.4
146.4
146.2
147.8
147. 5
147.5
Miscellaneous
do
150.8
152.4
153.7
152.7
153.9
154.0
1S4'.1
r
Revised.
9 Preliminary.
J Designation changed from "fuel, electricity, and ice"; there has been no change in the items included.
§ February 1949 indexes: All farm products, 258; crops, 233; food grain, 221; feed grain and hay, 173; tobacco, 412; cotton, 235; fruit, 181: truck crops, 285; oil-bearing crops 244- livestock
and products, 280; meat animals, 315; dairy products, 264; poultry and eggs, 218.
'
*New series. The subgroup "other fuels and ice" shown in the January 1949 Survey and earlier issues has been discontinued by the compiling agency and a separate index is now computed for "other fuels" (shown above) and for "ice" which is not shown here. Data for ice are included, however, in the group total.
NOTE FOE WHOLESALE PRICE INDEXES, p. S-5.—The Department of Labor is currently reviewing and revising the samples of commodities and of reporters for the indexes subgroup by
subgroup, to reflect postwar changes in production and distribution. As subgroup revisions are completed, the revisions are incorporated in the pertinent group indexes and the all-commodity
index and the subgroup indexes are revised retroactively for the entire period covered by the revision; however, to avoid repeated revisions of the group indexes and the all-commodity index
these are not revised retroactively more than 2 months. If introduction of a revised subgroup into the calculations changes significantly the levels of the group indexes and the all-commodity
index, the latter indexes computed with the original sample for the first month of the revision will be provided in a footnote. In some instances, it is necessary to correct previously published
indexes because of late reports, incorrect reports, or other errors in prices previously used. Indexes for the latest 2 months are preliminary and are currently revised to incorporate corrections
received in the 2 months following. Any additional corrections received are incorporated in final annual summaries issued in the middle of the year. Indexes for July-December 1947 were
corrected in the September 1948 Survey. Corrected indexes for January-June 1947 are available upon request.
SURVEY OF CURRENT BUSINESS
March 1949
Unless otherwise stated, statistics through
1946 and descriptive notes may be found in
the 1947 Supplement to the Survey
S-5
1949
1948
February
January
March
May
April
July
June
August
September
October
November
December
January
COMMODITY PRICES—Continued
WHOLESALE PRICES 1
U. S. Department of Labor indexes:t
All commodities,?
- 1926*= 100_
Economic classes:
Manufactured productsc?
_ _ _
do
Raw materials
do
Semimanufactured articles
_
do_ __
Farm products
_ -do
Grains
do
Livestock and poultry*
do
Commodities other than farm products^1 -do
Foods
do_ _.
Cereal products
_
do
Dairy products
do
Fruits and vegetables
_ _ _ _ do
Meats poultry, and
fish*
do
Commodities other than farm products and
foodsc?
1626=100
Building materials
- do
Brick and tile
_
do
Cement
.
_ do
Lumber
_
do
Paint and paint materials
_ _ _ _ do
Chemicals and allied products
do
Chemicals
do_ _
Drug and pharmaceutical materials. -do
Fertilizer materials-do
Oils and fats
do
Fuel and lighting materials
do_
Electricity
* do
Gas
do _
petroleum products
do
Hides and leather products
do__
Hides and skins
- - do
Leather
do
Shoes
- do
HousefurnishiEg goods§
do
Furnishings
- - do___
Furnituref
do
Metals and metal productsc?
do
Iron and steel
_
do
Metals, nonferrous
do
Plumbing and heating equipment
do
Textile products
do
Clothing
do. .
Cotton goods
_
do
Hosiery and underwear
do
Rayon
_ _ _ _ _ do
Silk
•
do
Woolen and worsted goods
_ _ _ _ do_ _
Miscellaneous
do
Automobile tires and tubes
do
Paper and pulp
do
PURCHASING POWER OF THE DOLLAR
As measured byWholesale prices
1935-39=100.
Consumers' prices
_ _ _
do
Retail food prices
do
165.7
160.9
161.4
162.8
163.9
166.2
168.7
169.5
168.7
165.2
•• 164. 0
' 162. 3
160.6
157.8
183.9
r
l£6.8
169.2
256.3
232.9
158.2
179.9
170.1
183.9
140.7
222.3
154.5
174. 9
155.2
185.3
220.0
210.0
155.3
172.4
160.2
184.8
144.5
206.2
155.8
174.7
152.9
186.0
218.0
209.4
155.7
173.8
158.6
179.8
145.7
217.1
157.6
175.5
154.1
186.7
217.9
204.4
157.3
176.7
158.0
181.0
148.6
226.0
158.5
177.6
153.8
189.1
213.5
219.0
158.2
177.4
156.3
176.6
147.0
233.2
159.6
182.6
154.5
196.0
209.2
239.2
159.4
181.4
155.1
181.3
147.7
241.3
162.6
184.3
155.9
195.2
190.6
250.8
162.6
188.3
154.5
182.9
151.2
263.8
164.6
182.0
159.6
191.0
179.2
250.0
164.6
189.5
154.0
185.1
140.5
273.7
163.9
181.0
158.8
189.9
176.9
244.2
163.8
186.9
153.3
179.9
139.4
266.5
160.2
177.0
158. 4
183.5
170.4
223.4
161.0
178.2
149.6
174.9
137.1
239 8
158.7
175.2
' 161. 0
180.8
171.1
213.4
' 160. 1
174.3
150.5
170.7
139.6
227.4
157.5
172.1
156.3
169.3
160.3
172.5
167.7
194.7
157.8
165.8
148.0
163.6
145.3
214.2
148.3
193.3
150.9
126.5
307.3
163.2
138.8
125.8
154.4
115.7
236.7
130.0
66.4
84.5
120.7
200.3
238.9
209.4
194.3
141.3
143.8
139.1
154.3
144.6
145. 5
138.8
148.4
143.4
214.8
104.4
40.7
46.4
141.9
123.6
63.4
168.1
147.6
192.7
151.1
327.2
303.8
159.6
134.6
126.5
154.3
115.1
201.5
130.8
66.6
85.8
121.7
192.8
207. 2
169.6
164.7
141.8
144.4
139.4
155.3
146.3
146.8
138.7
148.9
144.7
214.9
105.0
40.7
46.4
143.0
120.1
63.4
167.4
147.7
163.1
151.6
127.4
303.8
156.7
136.1
126.8
154.4
114.9
211.4
130.9
65.7
88.7
121.8
185.4
186.2
185.9
193. 8
142.0
144.7
139.4
155.9
147. 7
146.8
138.7
149.8
144. 6
218.3
105.4
40.7
46.4
145. 7
120.8
63.4
167.3
148.7
195.0
152.5
127.5
309.2
158.6
136.2
126.8
153.8
115.2
212.3
131.6
66.1
89.1
121.8
186.1
199,3
183.6
191.7
142.3
145.2
139.6
157.2
149. 4
149.8
138.7
150.3
145. 8
219.2
105.4
40.7
46.4
147.5
121.8
63.4
167.5
149.1
166.4
152.8
128.2
312.9
158.4
134.7
125.9
153.3
115.0
205.0
132, 6
65.4
89.3
122.1
188.4
218.0
188.2
185.6
142.6
145. 8
139.6
157.1
148.9
150.0
143.2
150.2
145.8
217.8
105.4
40.7
46.4
147.5
121.5
63.5
167.4
149.5
196.8
153.3
128. 8
313.2
158.7
135.8
126.2
153.7
113.9
212.7
133.1
65.7
90.7
122.1
187.7
215.2
186.9
185.8
143.2
146.7
139.9
158. 5
149.4
152.1
145. 3
149.6
145.2
213.1
105.3
40.7
46.4
147.5
121.5
63.5
167.3
151.1
199.9
157.9
132.2
318.1
157.9
134.4
127.8
153.6
115.0
193.2
135.7
66.4
90.4
122.1
189.2
220.3
189.2
186.3
144.5
148.5
140.4
162.2
153.2
153.7
145.3
149.4
148.3
209.3
104.9
40.7
46.4
147.5
120.3
66.2
166.8
153.1
203.6
158.6
133.2
319.5
158.1
132.0
126.3
153.3
114.9
180.3
136.6
65.5
86.9
122.1
188.4
212.1
186.0
189.4
145.4
149.3
141.6
170.9
163.1
165.9
153.9
148.9
148. 3
205.3
104.9
41.6
46.4
149.4
119.7
66.2
169.0
153. 3
204.0
158. 9
133.3
317.1
160.2
133.3
126.0
152.7
116.2
188.6
136.7
66.3
90.7
122.2
187.5
210.6
181.9
190.0
146.6
151. 5
141.6
172.0
164.0
166.4
157.0
147.9
148.6
199.8
104.8
41.8
46.4
150.0
119.9
66.2
170.9
153.2
203.5
160.1
133.7
314.5
160.4
134.8
127.5
152. 6
117.2
192.9
137.2
66.5
90.9
122.8
185.5
202.0
180.4
189. 7
147.5
152.5
142.5
172.4
164.5
167.0
157.3
146 9
148.8
195.0
104. 6
41.8
46.4
150.7
119 0
66.2
170 2
'r 153. 5
203. 0
160.4
133.7
48.6
59.2
47.7
50.0
59.7
48.9
49.9
59.9
49.4
49.4
59.1
48.1
49.1
58.7
47.4
48.4
58.2
46. 7
47.7
57.6
46.1
47.5
67.3
46.2
47.7
57.3
46.5
r 310. 7
161.6
' 133. 9
124.8
151.9
119.5
r 195. 1
137.3
67.3
92.6
122.8
186.2
206.0
183.8
188.1
148.2
153.6
142.8
173.3
165.0
171.4
157.3
••r 147. 5
149.1
191.7
r 160. 8
177.3
171.1
204.6
r 158. 8
170.2
149.8
r 171. 2
139.8
220.8
r 153.0
r
202. 1
160.5
133.5
r
305. 5
161.5
'130.6
' 122. 4
151.4
120.1
' 179. 4
137.0
91.0
122.0
185.3
197.2
186.5
188.0
148.4
153.6
143.1
173.8
165.4
172.5
157.3
* 146. 7
148.8
189.2
152.9
202.0
162.4
134.0
299.1
166.3
125.7
121.2
150.3
120.8
146.1
137.0
121.3
184.8
198.7
185.4
187.8
148.2
153.6
142.7
175.9
169.1
172.5
156.9
146.0
147.7
186.9
102.5
41.8
r 104. 0
r 103. 7
41.8
46.4
»• 159. 6
119.2
66.2
169.9
41.8
46.4
' 159. 6
118.5
66.2
169.5
48.7
57.6
47.3
49.1
68.1
48.2
r49.5
58.3
48.8
50.1
68.5
48 8
1 707
1,265
1 552
1,178
1 391
1 080
1 261
550
974
490
330
115
22
226
374
3
11
312
114
13
205
311
3
10
292
110
12
180
287
4
9
161.6
117.3
65.5
168.3
CONSTRUCTION AND REAL ESTATE
CONSTRUCTION ACTIVITY
N"fiw construction, total
mi], of do]
Private, total
do
Residential (nonfarm)
do___
Nonresidential building, except farm and public
utility, total
mil of dol
Industrial
do
Farm construction ._
do
Public utility
_ _ _ .
do _
Public, total
do
Residential...
__
do
Military and naval
... do _
Nonresidential building, total
do
Industrial _ _
_ _ _ _ _ __do
Highway
do
All other
do
1,157
948
500
1,009
837
400
273
130
14
161
209
9
14
265
125
14
158
172
6
11
53
1
49
1
56
77
41
65
1,166
940
475
1,311
1,024
525
266
120
23
176
226
5
12
264
116
37
198
287
6
13
57
87
65
1
1,461
1,120
585
1 616
1,235
635
1 715
1,318
1 799
1,354
695
324
110
81
233
397
5
12
332
111
82
245
445
5
13
334
113
63
250
450
5
13
190
140
277
111
50
208
341
5
13
305
110
62
233
381
5
11
98
99
136
110
167
119
169
123
200
131
71
2
77
2
79
2
1,782
1,332
680
88
2
96
2
685
102
2
650
333
116
39
243
442
4
12
106
2
600
108
1
106
1
(i)
104
180
140
126
126
80
112
68
102
CONTRACT AWARDS
Construction contracts awarded in 37 States (F. W.
Dodge Corp.):
Total projects
number-Total valuation
thous of dol
Public ownership
__ do. _
Private ownership
do
Nonresidential buildings:
Projects
number
Floor area
thous. of sq. f t _ _
Valuation.
thous. of dol__
r
23, 125
615 206
196, 530
418, 676
20,557
681, 967
248, 443
433, 524
27, 999
689, 763
181, 044
508, 719
37, 061
873 882
236, 330
637, 552
37, 282
970 789
298, 213
672, 576
33, 088
935, 198
324, 226
610, 972
36, 216
962 685
334, 501
628, 184
33, 801
854 091
289, 510
564, 581
29,080
762 192
259, 381
502, 811
29,761
778 606
261, 988
516, 618
25, 264
611 216
198, 699
412 517
24,143
694 023
278, 147
415 876
15, 597
482 984
159 942
323 042
3,295
27, 719
240, 544
3,205
29, 097
272, 395
3,622
25, 671
248, 939
4,746
34, 478
337, 603
4,907
40, 413
395, 971
4,546
33, 802
364, 211
5,294
44, 609
395, 104
4,642
33, 954
308, 750
4,505
28, 833
279, 862
4 675
33, 118
316,354
3 529
25, 077
240, 310
3 374
28, 335
266, 399
2 901
21, 685
221, 883
Revised. 1 Less than $500,000. J See note for wholesale prices at the bottom of p. S-4 regarding revisions of the indexes.
§ See note marked "t".
^ For actual wholesale prices of individual commodities, see respective commodities.
cf Current prices of motor vehicles were introduced into the calculations beginning October 1946 while April 1942 prices were carried forward in earlier computations; October 1946-December
1948 indexes using April 1942 motor-vehicle prices are shown in previous issues of the Survey; January 1949 indexes using April 1942 prices are as follows: All commodities, 157.3; manufactured
products, 150.9; commodities other than farm products, 153.7, commodities other than farm products and foods, 147.7; metals and metal products, 152.1.
• The series designated "meats, poultry, and fish" was formerly designated "meats" but included poultry; fish is included only beginning November 1948. Revised data for meats (other
than poultry) were introduced into this subgroup and revised data for livestock were introduced in the "livestock and poultry subgroup" in October 1948. The revised indexes were linked to
(made equal to) the former indexes in that month. Earlier data for the two subgroups will be revised when revision of the poultry and fish components is completed.
fRevised series. The index of wholesale prices of furniture has been revised beginning 1943; revisions for 1943-46 will be shown later. The revision has been incorporated in the group index
and other composite indexes beginning November 1947; for further detail, see note marked "t", February 1949 SURVEY.
826239°—49
4
SURVEY OF CURKENT BUSINESS
S-6
March 1949
1948
Unless otherwise stated, statistics through
1946 and descriptive notes may be found in
the 1947 Supplement to the Survey
January
February
March
April
May
June
1949
July
August
September
October
November
December
January
CONSTRUCTION AND REAL ESTATE—Continued
CONTRACT AWARDS—Continued
Construction contracts awarded in 37 States' (F. W.
Dodge Corp.)— Continued
Residential buildings:
18, 899
Projects
number
32, 183
Floor area
_ . _ thous. of sq. ft__
Valuation..
thous. of dol__ 238,098
Public works:
718
Projects
_ number..
Valuation...
thous. of dol_. 108, 891
Utilities:
213
Projects
_ _
number.27, 673
Valuation
thous. of dol
Value of contracts awarded (F. R. indexes):
156
Total, unadjusted
1923-25=100
126
Residential, unadjusted
_ _ _ _ .
do. _ _
191
Total, adjusted
do
152
Residential, adjusted
_ . do. __
Engineering construction:
Contract awards (E. N. R.) §
thous. of dol.. 441, 955
Highway concrete pavement contract awards :d"
1,723
Total
thous. of sq. yd._
6
Airports
...
do
1,040
Roads
do
677
Streets and allevs
_ _
do
NEW
16, 336
31, 474
232, 250
23, 227
35, 385
276, 541
30,448
46, 526
351, 604
30, 320
51, 710
369, 780
26, 366
40, 149
355, 296
28,780
44, 420
349,699
27,085
44, 577
337, 550
22,507
35, 610
279, 658
23,304
37, 159
296, 760
20, 472
33,563
264,033
19,529
31,500
256, 746
11,855
19, 892
159, 128
803
143, 033
915
109, 596
1,524
132, 598
1,659
159, 700
1,813
167,984
1,763
169, 293
1,679
148, 856
1,692
158, 597
1,432
125, 251
934
77,760
956
125, 581
620
74, 528
213
34,289
235
54, 687
343
52, 077
396
45, 338
363
47, 707
379
48,589
395
58, 935
376
44,075
350
40,241
329
29,113
284
45, 297
221
27, 445
161
135
187
152
182
156
181
148
206
181
181
154
226
195
188
165
233
194
201
177
224
189
205
187
210
175
201
177
195
165
193
165
175
152
184
157
169
148
189
154
145
123
180
145
142
110
174
133
474, 643
608,096
777,159
535, 184
596, 332
713, 719
560, 292
665, 417
648,434
451, 112
843, 544
565, 826
2,304
10
1,425
869
4,386
361
2,654
1,371
5,073
353
2,734
1,986
5,124
10
3,187
1,928
5,205
190
2,128
2,887
4,114
595
1,648
1,870
4,021
341
2,073
1,606
5,099
129
2,753
2,217
2,908
301
1,344
1,263
2,522
210
1,646
665
5,217
228
2,951
2,038
2,560
41
1,736
784
75,100
98,800
99,400
97,500
93,500
86,300
'82; 200
72,000
65,000
56,000
50,000
28,797
25,700
19, 196
1,995
4,509
3,097
27, 056
23, 409
16, 728
1,919
4,762
3,647
' 166. 2
' 247. 4
' 297. 2
' 215. 3
' 219. 0
156.0
231.9
263.2
217.2
199.9
DWELLING UNITS AND URBAN
BUILDING
New permanent nonfarm dwelling units started
(U. S. Department of Labor) *.__
...number..
Urban building authorized (U. S. Dept. of Labor):!
New urban dwelling units, total.
number..
Privately financed total
do
Units in 1-family structures
. _ _ __ do. _.
Units in 2-family structures
_do
Units in multifamily structures
do
Publicly financed, total
_ _ do. _
Indexes of urban building authorized:
Number of new dwelling units
1935-39=100..
Valuation of building, total _
_do
New residential building
do
New nonresidential building
_ _ do
Additions, alterations, and repairs
do
49,600
52,600
r
33, 522
32, 523
23, 704
2,280
6,539
999
33, 352
' 32, 206
* 22, 112
1,863
8,231
1,146
'r 193. 8
245. 4
r
313. 0
' 196. 9
' 218. 9
192.0
236.8
315.9
182.2
200.6
' 50, 844 ' 64, 921 ' 53, 392 ' 54, 781 ' 48, 191 ' 47, 920 ' 41, 210 «- 39, 992 «• 34, 519
' 50, 791 ' 64, 457 r' 52, 385 ' 54, 260 ' 46, 931 ' 46, 962 ' 39, 460 ' 38, 451 ' 32, 314
' 37, 595 ' 45, 726 41, 423 ' 42, 110 ' 36, 662 ' 35, 884 ' 31, 744 ' 31, 175 r 25, 600
' 7, 041
' 3, 769 ' 3, 343
4,092
2,393
1,729
' 2, 974 ' 2, 330
2,837
11, 690
' 7, 193
' 8, 807
«• 9, 104
' 4, 985
' 7, 295 ' 8, 748 ' 4, 879 '4,883
469
521
1,541
1,007
2,205
1,260
'63
' 1, 750
958
293.4
360.9
484.5
287.2
274.9
372.8
408.6
622.9
253.0
330.1
308.8
375.7
531.8
265.3
311.3
481
515
503
441
471
321
485
523
503
439
470
321
314.6
399.8
555.0
283.8
351.8
275.8
371.5
497.4
283.4
317.3
275.4
370.4
535.4
249.9
312.2
493
522
507
450
477
337
495
523
507
450
477
340
236.0
335.8
425.2
278.6
283.4
230.6
334.2
407.7
296.9
266.0
199.1
270.6
355.3
213.1
229.1
504
531
523
460
495
341
502
529
522
454
493
341
CONSTRUCTION COST INDEXES
Aberthaw (industrial building)..
_ 1914=100American Appraisal Co.:
Average, 30 cities
—
.1913=100..
Atlanta
do
New York
do
San Francisco
do _
St. Louis
do
Associated General Contractors (all types)-. .do
E. H. Boeckh and Associates, Inc.:*
Average 20 cities:
Apartments, hotels, and office buildings:
Brick and concrete U. S. avg. 1926-29=100..
Brick and steel
do _
Brick and wood
_
do
Commercial and factory buildings:
Brick and concrete
do
Brick and steel
do
Brick and wood
•. do
Frame
do
Steel
do
Residences:
Brick
._
do
Frame
_
do
Engineering News-Record:
Building
1913=100..
Construction
_^_
do
Public Roads Adm.— Highway construction:
Composite standard mile*
1925—29=100
325
310
478
514
502
437
470
321
475
508
495
436
469
321
472
505
491
435
462
320
486
524
504
439
475
332
323
327
502
531
518
459
489
341
501
532
520
457
491
341
502
532
520
459
491
341
'r 190. 1
193. 5
' 210. 5
'191.3
' 194. 8
'211.3
'192.2
' 195. 6
' 212. 0
' 194. 5
'197.6
' 215. 1
' 196. 8
' 199. 8
' 216. 7
'200.2
' 202. 5
' 219. 0
' 203. 2
'205.6
' 221. 3
'206.2
' 209. 5
' 223. 4
'208.7
' 211. 9
' 225. 5
' 210. 0
' 212. 9
'225.8
' 209. 7
' 212. 4
' 224. 6
'209.0
'211.3
' 221. 1
208.9
211.0
220.7
' 192. 2
••191.8
' 203. 5
'r 220. 6
177. 8
'T 193. 7
192. 7
'r 204. 5
221. 2
' 178. 6
r
194. 7
' 193. 7
'T 205. 1
221. 9
' 179. 5
'r 197. 0
195. 3
'208.1
' 225. 5
' 180. 6
' 199. 5
' 197. 7
'r 209. 8
227. 0
' 182. 5
' 203. 3
' 200. 8
'r 212. 0
229. 0
' 184. 8
' 206. 4
' 203. 2
' 214. 3
' 230. 9
' 187. 0
' 209. 2
' 208. 4
' 216. 1
' 232. 8
' 195. 4
' 211. 7
' 210. 6
' 219. 1
' 234. 5
'197.3
' 213. 2
'211.6
' 219. 9
' 234. 1
' 198. 2
' 212. 9
' 211. 2
' 218. 9
' 232. 4
' 198. 0
' 212. 5
' 210. 3
' 216. 5
' 227. 1
' 197. 5
212.8
210.4
216.4
226.8
197.7
'211.0
' 213. 8
r
'211.8
214. 7
' 212. 4
' 215. 2
r
215. 6
' 218. 5
' 217. 2
' 219. 8
' 219. 6
' 222. 1
'222.0
' 224. 2
' 223. 8
' 225. 9
' 225. 9
' 227. 6
' 226. 2
' 227. 5
* 225. 0
' 226. 0
' 221. 4
' 221. 5
221.1
221.0
334.2
443.6
334.6
443.6
333.9
444.9
339.3
455.8
342.4
464.8
355.5
477.1
356.7
478.4
357.1
480.2
355.9
478.3
355.6
477.7
354.9
477.4
352.9
475.4
335. 5
442.7
155.9
150.5
161.0
165.3
CONSTRUCTION MATERIALS
Production of selected construction materials, index:*
Unadjusted
1939=100..
Adjusted
do
131.5
154.0
121.5
147.3
140.3
148.5
143.0
143.9
146.3
138.3
152.5
142.5
153.1
143.9
163.8
144.7
159.9
148.7
' 164. 2
' 148. 2
147.0
148.3
9 133. 9
9151.5
REAL ESTATE
Home mortgages insured by Fed. Hous. Admin.:
129,894 159, 967 151, 552 151, 524
186,859 164,094 179, 412 199, 968 216,931 212,085 ' 214, 407 208,312
Premium paying mortgages
thous. of dol. _ 138,587
Loans outstanding of agencies under the Home
Loan Bank Board:
Federal Home Loan Banks, outstanding advances
397
392
373
374
478
418
475
493
to member institutions
mil. of dol
479
486
487
515
427
Home Owners' Loan Corporation, balance of
465
444
434
424
475
454
414
loans outstanding
_mil.ofdol__
395
0)
' Revised.
9 Preliminary.
1 Data now reported quarterly.
§ Data for January, April, July, September, and December 1948 are for 5 weeks; other months, 4 weeks.
cf Data for March, June, September, and December 1948 are for 5 weeks; January 1948, January 1-30; other months, 4 weeks; December data include some contracts awarded in prior
months but not reported.
1The series under building authorized were formerly shown as "urban dwelling units scheduled to be started" and "indexes of building construction based on building permits'" see
also note in July 1948 Survey." Minor revisions in figures for number of dwelling units beginning January 1946 are available upon request.
*New series. The new series for new permanent nonfarm dwelling units started has been substituted beginning January 1941 for the series on "total nonfarm dwelling units scheduled to be
started" shown in the 1947 Supplement; see note marked "*" on p. S-5 of the July 1948 Survey for a brief description of the series; data for January 1941-April 1947 are available upon requestdata prior to 1941 shown in the 1947 Supplement are comparable with the current series. The new 20-city averages of construction costs from E. H. Boeckh and Associates have been substituted
for the series for selected cities shown in the Survey through the August 1948 issue; monthly figures beginning 1934 and earlier annual data will be published later; revisions in this issue result
from moving forward one month the data as previously shown beginning with the September 1948 issue, to conform with the reporting method of the compiling agency. See note marked
"*" on p. S-6 of the September 1948 Survey for brief descriptions of the index of highway construction costs and the index of production of selected construction materials and source of data
through 1946 for the latter series.
SURVEY OF CURRENT BUSINESS
March 1949
S-7
1948
Unless otherwise stated, statistics through
1946 and descriptive notes may be found in
the 1947 Supplement to the Survey
January
February
March
April
May
June
1949
July
August
September
October
November
December
January
CONSTRUCTION AND REAL ESTATE—Continued
REAL ESTATE— Continued
New mortgage loans of all savings and loan associations, estimated, total
thous of dol
By purpose of loan:
Home construction
do
Home purchase
_ do
Refinancing
do __
Eepairs and reconditioning
do
All other purposes __
_
do
New nonfarm mortgages recorded ($20,000 and
under), estimated, total
thous. of dol
Nonfarm foreclosures, index, adjusted|1935-39=100 _
Fire losses
_
thous. of dol_.
273, 202
254 581
318 602
336 947
332 441
346 469
331 893
317 842
297 175
287 336
260 472
249 828
205, 389
70, 274
140, 122
25, 856
97 325
146, 213
29, 677
11, 519
33, 868
97 458
156 701
30, 973
14, 189
37, 626
93 315
161 309
29, 400
14, 308
34 109
100 149
169 206
28 615
14, 349
34 150
101 236
152 875
26, 876
14, 794
36 112
92 132
151 882
25, 324
15, 526
32 978
85 233
141 961
24 607
14, 989
30 385
89 505
132 006
23, 482
14, 089
28, 254
82 172
117, 088
22, 881
12, 270
26, 061
70 Oil
114, 090
'23,549
28, 271
66 894
126, 462
23, 511
8, 374
29, 340
11, 506
30, 672
56 369
89, 939
22, 713
10, 348
26, 020
909, 447
826, 874
955, 441
993, 678
977, 830
919, 631
938, 938
789, 559
71, 521
74, 236
999, 456 1 049 591 1 018,397 1, 024, 323
7.1
6 5
7 4
7 7
54, 706
49, 543
59, 256
50, 955
991 408
63, 010
49, 945
51, 845
69, 397
57, 926
304
342
262
296
308
287.0
315
339
278
320
327
276.8
15 650
18 321
8,679
6.5
6.8
7.0
6.8
63, 751
7.7
8.0
8.0
52,949
8.5
DOMESTIC TRADE
ADVERTISING
Advertising indexes, adjusted:
Printers' Ink, combined index
1935-39—100
Magazinesf
do
Newspapers
do
Outdoor..
_ do _ _ _
Radio
do
Tide advertising index, adjustedf
do
Radio advertising^
Cost of facilities, total
thous of dol
Automobiles and accessories
do
Clothing
.
do _
Electric household equipment
do
Financial
_- _ _
do
Foods, food beverages, confections
do
Gasoline and oil
do
Housefurnishings, etc
do
Soap, cleansers, etc.
_
_
do
Smoking materials
do _
Toilet goods, medical supplies
do
All other
_
do
Magazine advertising:!
Cost total
do
Automobiles and accessories
do
Clothing
do __
Electric household equipment
_ do
Financial
do. __
Foods, food beverages, confections
do
Gasoline and oil
_ _ do
Housefurnishings, etc
do
Soap, cleansers, etc
_ _ do
Office furnishing and supplies
do
Smoking materials . _ _ _ _ _ _ _ _ d o
Toilet goods, medical supplies
do_ __
All other
_
_
do
Linage, total
thous of lines
Newspaper advertising:
Linage total (52 cities)
do
Classified
do
Display, total
_ do_ _
Automotive
do
Financial
do
General
do
Retail
-- _-- _ _ _ _
do
258
291
205
290
303
253.5
289
321
242
312
319
274.6
290
346
227
322
308
271.6
294
333
247
294
314
283.9
302
345
256
329
312
274.9
271.0
250 1
279
301
240
284
299
272.7
17 544
693
121
569
450
5,000
585
254
1,544
1,798
4,991
1,538
16 715
717
133
543
482
4,766
564
232
1,452
1,595
4,694
1,535
17 803
699
118
603
511
5,122
536
225
1,734
1,770
5,031
1, 456
17 078
17 327
15 656
13 282
14 272
27, 688
2,604
1,887
1,012
585
4,517
304
1,117
613
414
918
3,793
9,923
3,641
37 486
2,771
3,640
1 590
666
6,311
381
1,916
1,155
495
883
5,584
12, 094
4 175
47, 992
3,450
6,121
2,446
726
6,748
640
2,802
1,104
850
990
6,304
15, 810
4,581
155, 428
39, 600
115, 828
5,180
2,896
20, 404
87, 348
167 945
40 048
127, 897
6 181
1,869
-25 477
94, 369
189, 555
43, 985
145, 571
6,394
2,225
28,106
108, 846
thousands
thous. of doL_
4, 586
92,651
4 339
86^ 412
thousands
thous. of dol__
14, 412
201, 299
13 135
186, 247
711
121
603
483
4,894
441
177
1 672
1,718
4 857
1,401
45 917
3' 442
5 004
2 719
715
5,905
848
3, 556
1 270
691
1 019
5,711
15 037
4 391
662
152
651
481
4,861
432
192
1,77.5
1,751
4,804
299
344
262
279
3do
538
105
642
363
4,223
444
161
1,755
1,711
4,545
1,567
1,169
52 Oil
4,241
5,152
3,137
42 264
784
6,657
1,048
4,129
1,532
1,054
1,216
5,702
3,667
3,469
2,821
629
5,456
972
2,982
1,156
608
1,174
5,375
268
298
233
2«8
271
370
82
656
373
3,446
435
183
425
80
691
400
3,835
453
167
1,630
1, 556
414
115
674
363
4,313
4, 782
1,920
1,510
4 232
1,506
1 923
1,731
4 677
2,611
441
163
1 473
1 532
3 783
3,922
29 495
3 068
1 115
1 476
33 372
2 856
3, 730
1 246
45 239
3 048
4,651
4,731
5,441
1, 143
1,495
948
517
852
926
378
978
4,430
1,112
494
985
950
700
1,131
4,180
10 874
3 968
659
156
681
374
6,554
2 589
665
872
3,728
1,152
787
1,146
514
213
r
52 993
3 922
6 151
3 366
758
7,253
877
4,504
1 780
777
300
344
244
285
317
281.4
17 394
1 036
132
668
333
4,673
511
176
1 936
1 684
4 416
1 829
52 330
3' 907
4' 936
3 080
' 798
6 940
013
4 580
247
049
14, 245
4 462
1 287
6 019
16 299
4 847
' 349
5 778
17 652
4 145
197 335
45, 810
151, 525
6,921
1,849
30 097
112, 658
220 449
46 861
173 588
7 453
1 994
38 251
125 891
209 199
41 480
167 718
7 467
1 999
34 880
123 273
5 176
5,004
285
320
237
255
319
253.5
~~
17, 360
4 288
13, 954
3,160
9 962
3 171
221
848
373
047
295
475
557
197 809
47 643
150, 166
7 557
2,120
31 092
109, 396
185 847
43, 999
141, 848
8,814
161 430
43 081
118, 349
6 714
28, 365
102, 467
22 790
86, 396
176 800
46 467
130, 333
7 066
1,782
23 001
98 484
5,281
106, 540
5 122
95, 871
88,565
4 470
4 733
94, 494
4 503
90, 545
4 476
90, 407
5 267
87^845
98,446
5 353
97, 114
5 229
98, 629
4 729
94, 492
16, 749
240, 369
15 552
220, 748
14 252
198, 921
15, 267
217, 320
14 408
206, 027
14 207
208, 527
14 703
216, 336
15 552
247, 204
20 044
256, 791
17 235
265, 659
14 395
227, 123
197
45
151
7
2
30
111
2,203
2,448
3 015
204
37
166
5
2
25
133
428
624
804
843
112
703
146
Q
A-lft
163
38
125
7
2
21
93
977
498
479
362
952
955
210
POSTAL BUSINESS
Money orders:
Domestic, issued (50 cities):
Number
Value
Domestic, paid (50 cities):
Number
• Value
PERSONAL CONSUMPTION EXPENDITURES
Seasonally adjusted quarterly totals at annual rates :f
Goods and services, total
bil. of dol__
' 172. 5
' 177. 3
' 180. 1
181.0
Durable goods, total
do .__
'21.3
'22.8
'23.7
22 9
Automobiles and parts
do. -_
7.7
'8.0
'8.8
9 0
Furniture and household equipment _ do
9.8
10.8
'10.9
98
Other durable goods
do
3.8
3.9
'4.0
41
Nondurable goods, total
do
' 101. 4
' 103. 7
' 104. 3
105.1
Clothing and shoes.
_ do
'19.2
r 20 5
'20 7
20 9
Food and alcoholic beveragesdo
'61.3
'61.6
'62.1
62 6
Gasoline and oil
__ do
'3.9
4.3
'4.3
41
Semidurable house furnishings
do
1.9
1.9
1.9
19
Tobacco
do
'4.1
'4.1
'4.2
4 3
_
_
Other nondurable goods
do
11.0
'11.2
'11.3
11.3
r
Revised. * Preliminary.
i The figures shown in the December columns are totals for October-December; monthly figures not available.
t Data beginning January 1948 for magazine advertising include advertising in farm magazines and some other magazines which is not included in earlier data and there have been chanees
effective January 1948 in the classifications of electric household equipment, housefurnishings, etc., soap, cleaners, etc., and toilet goods in both the radio and magazine series. Inclusion of
advertising in farm magazines in the 1948 data for magazines materially affected the comparability of the figures for automobiles and accessories and, to a lesser extent, the comparability of
data for other classifications. Adjustments of earlier data are under consideration by the compiling agency and more complete information on the changes will be published later.
f Revised series. The index of nonfarm foreclosures has been revised beginning 1938 because of discovery of certain errors in reporting; revisions through April 1947 will be shown later.
There have been minor revisions in Printers' Ink index of magazine advertising to include advertising in farm magazines formerly shown as one of the five major components of the advertising
index; revisions are available upon request. The Tide advertising index has been completely revised and is now based on dollar costs for all media—newspapers, magazines farm papers
business papers, radio (network and spot), and outdoor advertising; revised data beginning 1936 will be shown later. Estimates of personal consumption expenditures have been revised beginning 1944; revised figures for the grand total and for total durable and nondurable goods and services are shown as a component of gross national product on D 28 of the Julv 1948 survev
y
revised figures through the first quarter of 1947 for the subgroups will be shown later.
'
SURVEY OF CUERENT BUSINESS
S-8
Unless otherwise stated, statistics through
1946 and descriptive notes may be found in
the 1947 Supplement to the Survey
March 1949
1949
1948
January
February
March
April
May
June
July
August
September
October
November
December
January
DOMESTIC TRADE—Continued
PERSONAL CONSUMPTION EXPENDITURES—Continued
Seasonally adj. quarterly totals at annual ratest— Con.
Goods and services— Continued
Services
bil. of dol.
Household operation
_.
._ __ _do
Housing
* do
Personal service
do
Recreation
__
-do __
Transportation
do
Other services
__ _do. __
'49.8
7.6
15.5
3.2
3.8
4.6
'15.2
'50.8
7.6
15.8
3.2
'3.9
4 7
'15 6
'52.1
7 7
16 2
32
39
'49
' 16 1
53.0
7.8
16.4
3.2
4.1
5.1
16.5
RETAIL TRADE
All types of retail stores :t
9,684
8,948
10, 782
10, 734
10, 705
Estimated sales total t
mil. ofdol
10,674
10, 738
9,418
10, 874
11,058 ' 11, 542 11, 019 ' 13, 194
2,956
2,516
2,962
2,350
' 3, 336
3,107
3,188
3,221
3,292
Durable goods storest
do
3,055
2,444
3,150
3,171
1,195
1,538
1,
257
1,498
1,329
' 1, 537
1,568
1,569
1,655
Automotive groupt
do
1, 506'
1,324
1,431
1,508
1,088
1,402
1,143
1,344
1,360
1,176
1,389
1,421
1,483
1,361
Motor vehiclesf
do
1,259
1,211
1,353
114
106
136
154
'177
Parts and accessories
do
153
148
180
172
144
173
113
155
Building materials and hardware groupt
1, 001
819
mil. of dol.658
730
953
959
992
840
987
880
1,030
986
631
657
461
483
417
510
589
Building materials . _
_ _ __do
601
630
654
556
656
654
395
139
106
90
123
146
139
109
158
135
Farm implements t
do
130
153
94
126
205
151
186
163
218
218
248
203
Hardware
do
198
194
221 ;
205
142
566
451
426
579
703
520
575
549
Home furnishings groupt
do
562
568
586
592
420
332
251
264
341
307
355
403
315
Furniture and house furnishmgst
do
336
343
350
243
350
234
224
175
213
187
233
234
300
Household appliances and radios
_do _ _
232
218
236
242
177
85
82
78
78
95
257
78
Jewelry stores
do
71
82
109
85
69
103
8,321
7,778
7,169
6,598
7,598
7,820
9,857
7,549
7,382
7,964
Nondurable goods storest
do
7,724
6,974
7,887
982
604
910
781
1,272
663
808
630
635
Apparel group
- -do
901
878
689
801
212
230
169
149
181
193
154
360
Men's clothing and furnishings
do
135
226
215
188
187
302
477
419
, 280
371
539
368
276
Women's apparel and accessories _ do_ _ _
422
307
426
343
305
92
140
85
125
103
199
107
86
Family and other apparel
do
132
90
122
105
96
135
154
100
90
174
128
137
114
103
121
Shoes
- -- do. _
142
138
101
307
305
295
294
287
304
394
307
299
296
Drugstores
-_
do_ _
301
299
299
1,115
1,034
930
1,030
995
1,060
1,064
1,085
1,091
Eating and drinking places
do
1,037
1,105
1,066
992
2,595
2,624
2,787
2,360
2,716
2,608
2,942
2,762
2,576
2,626
Food groupt
do_ __
2,648
2,613
2,568
2,188
1,862
2,084
2,038
2,056
2,144
2,300
2,187
2,013
2,051
Grocery and combinationt
do
2,055
2,033
2,021
598
552
557
540
572
498
642
575
Other food
do
563
575
593
580
546
435
495
479
550
523
531
550
581
519
•Filling stations
do
570
541
552
472
1,392
1,560
1,039
1,087
1,343
1,368
1,221
2,
306
1,
265
1,599
General merchandise groupt
- - --do
1,364
1,049
1,447
1,054
940
719
906
690
910
1,526
765
Department, including mail-order
do
1,100
830
905
689
978
General, including general merchandise
122
148
136
172
160
171
176
196
with food
mil. of doL_
162
161
170
167
129
Dry goods and other general merchan104
128
125
131
152
97
217
118
116
dise
do
139
146
130
100
184
131
177
128
149
160
161
368
157
164
191
Varietyt
-do .
160
131
943
1,051
1,025
1,015
1,015
1,020
984
1,326
947
Other retail stores
do _ _
969
985
1,027
905
144
146
130
143
142
165
142
262
132
Liouor
do
134
142
165
131
812
872
879
907
855
873
842
1,065
Other
- -do
816
821
893
827
774
Indexes of sales:
292.9
324.0
333.1
332.2
296.0
323.1
' 349. 0
328.9
' 403. 3
Unadjusted, totalt
1935-39=100-349. 3
350. 6
339.1
293.1
312.1
313.9
359. 7
391.2
376.2
399.5
395.5
408.7
' 415. 0
Durable goods storest
do
408.2
393.2
396.3
309.4
290.2
312.4
286.6
314.2
317.8
299.5
332.6
302.9
400.8
Nondurable goods storest
do
320.4
331.8
335.0
287.8
324.6
330.7
324.7
337.9
329.5
336.9
338.0
338.0
' 343. 2
Adjusted, totalt - do
334.2
340.3
337.1
328.5
357.6
357.4
376.0
386.5
355.3
389.5
385.7
405.0
' 391. 7
Durable goods storest
do
382.5
376.9
396.6
360.5
347.4
347.6
286.4
314.0
308.7
344.8
354.7
367.0
' 369. 2
Automotive groupt
do
319.6
359.8
351.8
327.2
423.5
423.3
422.0
441.5
444.3
Building materials and hardware groupt- do
453.8
439.7
464.7
427.1
455.9
429.3
456.7
402.1
395.1
391.3
424.6
403.7
432.8
436.9
439.2
405.8
Homefurnishings groupt.
-do _
411.0
432.7
452.7
384.8
399.7
388.6
410.1
391.6
400.8
404.7
381.1
372.5
390.4
Jewelry stores
do
388.3
379.3
412.3
385.7
384.9
314.1
313.9
316.0
321.1
322.0
322.5
319.7
316.1
Nondurable goods storest
do
324.1
318.4
' 327. 4
322.0
318.1
315.2
314.4
307.8
315.3
Apparel group
do. _ _
319.8
311.3
305.6
336.6
322.1
' 337. 7
326.9
328.3
342.2
261.5
260.3
255.5
252.2
255. 7
257.1
256.9
254.0
Drug stores -do
254.4
' 250. 5
255.8
255.8
262.6
417.2
413.6
413.6
420.1
408.8
414.7
416.3
Eating and drinking places
do
406.8
423. 0
419.5
419.9
" 420. 7
414.9
335. 5
339.2
335.6
344.2
341.6
333.1
331.1
342.9
Food groupt
-- -do. _..
346.3
' 349. 0
339.3
338.8
340.3
241.4
246. 2
251.7
260.3
258.7
262.2
257.8
250.1
Filling stations
do
252.8
249.7
259.1
249.0
243.0
254.1
257.3
253.8
269.8
270.8
271.1
277.9
277.6
General merchandise groupt
do
275.9
277.3
260.3
' 281. 7
260.1
348.9
355.6
341.8
348.9
354.5
350.9
Other retail stores
_
do _
344.8
342.8
332. 3
360.3
341.8
' 347. 0
334.0
12,
779
13, 625
14, 280
14, 164
13, 992
Estimated inventories, totalt
mil. of dol__
13, 498
13, 972
14, 695
15, 284
13, 637
15, 652 ' r13, 938
13, 643
4,634
5,011
4,358
4,946
4,925
Durable goods stores
do
4,927
5,312
4,941
4,937
5,086
5,409
5, 227
5,254
1,190
1,146
1, 251
1,219
1,219
1,262
Automotive group
do
1,239
1,298
1,219
1,297
1, 370
' 1, 454
1,564
1,639
1,760
2,048
2,053
1,989
Building materials and hardware group.do
1,974
2,058
2,062
1,964
2,124
' 1, 901
2,050
1.893
1,275
1,271
1,197
1,232
1,275
Homefurnishings group
_
do
1,292
1,477
1,227
1,263
1, 306
1,479
' 1, 475
1,405
441
376
442
409
442
Jewelry stores
do
399
413
475
417
437
510
392
8,421
8,991
9,269
Nondurable goods stores
do
9, 218
9,067
8,571
9,035
8,696
9,972
9,609
10, 243
' 8, 711
8,389
1,652
2,009
2,064
1,887
2,014
Apparel group
-- do
1,749
1,993
1,834
2,188
2,139
2,257
' 1, 730
1,714
542
568
512
533
530
Drug stores
do
497
504
506
511
538
594
'545
545
352
341
341
Eating and drinking places
do
339
325
322
322
324
327
310
314
'304
280
1,916
1,962
2,000
Food group
do
1, 860
1,851
1,826
1, 845
2,111
1,841
1,979
2,098
' 1, 920
1,789
226
203
209
184
Filling stations
do
197
150
168
169
186
205
215
'228
225
2,451
2,705
General merchandise group
do
2,802
2,877
2,883
2,657
2,796
3,004
3,107
2,663
3,218
' 2, 558
2,441
1,256
Other retail stores
do
1,313
1,350
1,333
1,379
1,370
1,356
1,407
1,513
1,466
1,577
' 1, 426
1,395
Chain stores and mail-order houses :<?
1,874
2,015
2,315
2,266
Sales estimated, totalt
do
2,355
2,281
2,317
2,200
2,352
2,524
2,392
' 3, 030
1,985
173
170
288
235
Apparel group
do_
253
254
208
195
265
263
290
'375
187
32
30
48
38
38
Men's wear _
do
42
26
24
42
50
48
'66
36
82
80
138
112
124
Women's wear
do
106
103
119
130
145
129
179
88
44
46
78
65
Shoes
_ do_
70
72
53
60
72
69
63
98
47
28
28
44
37
Automotive parts and accessories
do
46
54
50
50
45
41
42
62
29
81
68
80
Building materials
do
101
110
113
117
118
126
125
101
80
70
66
66
69
Drug
_
_ _
do
65
67
67
70
68
67
71
'67
97
67
49
54
51
52
Eating and drinking places
do
52
52
54
54
53
54
51
55
51
21
22
Furniture and hoasefurnishings
do_
27
28
29
26
28
29
30
26
28
39
18
' Revised.
v Preliminary.
There ha^7e been rev isions begiianing 1947 in the chain-store sen es and sonle earlier re visions; se B note mar ked "t" on p. S-9.
| Estimates of retail sales and indexes of sales,ith
wthe exc eption of d ata for jew elry stores , filling st ations, gen sral stores, including general m erchandise with food , and dry goods and
other general merchandise stores, have been revisecI beginnin g 1947 and there hav(3 been earli er revision s in the sw ies markeci with a "1" as followrs: Total, durable g<)ods ami rlondurable
goods stores, motor vehicles, and the automotive gi oup, grocery and cornbination 5md the foo d group, beginning 1 M2; farm i mplements and the building Enaterials and hardw are group,
beginning 1943; variety and the general merchandis e group, b eginning 19 44; furnitu re and hou£ efuroishin gs and the homefurn ishings group, beginn ing 1945. Revised aimual figur es through
1947 and an explanation of the revisions are publish ed on p. 2$' of the Ser)tember 19 18 Survey. All revisi ons throug h June 194 7 will be stiown later.
t Revised series. See note marked "t" above regyarding rev isions in tfc e indicatecI series und er sales of all types of retail store s, and not 3 marked " t" on p. S-9 regardingI revisions in data for
sales of chain-stores and mail-order houses. Estima tes of retai I inventori es have be 3n revised for all year s and data by kinds of business have been added; year-end figures for 192£ , 1933, and
1935-46 are on p. 23 of the June 1948 Survey; monthly7 averages for 1939 an i 1940 andmonthly d ata for 194 L-47 are on p. 31 of th(j July 1948 Survey.
SUBVEY OF CUEEENT BUSINESS
March 1949
Unless otherwise stated, statistics through
1946 and descriptive notes may be found in.
the 1947 Supplement to the Survey
S-9
1949
1948
January
February
March
April
May
July
June
August
September
October November December
January
DOMESTIC TRADE—Continued
RETAIL TRADE—Continued
Chain stores and mail-order houses — Continued
Sales, estimated— Continued t
451
General merchandise group t
-<«Piil. of dol__
Department, dry goods, and general merchan249
dise
mil. ofdol__
84
Mail-order (catalog sales)
do
108
Variety f
do
804
Grocery and combination
do
Indexes of sales: t
259.2
Unadjusted, combined index t .... 1935-39 =100. _
294.9
Adjusted, combined index f
do
287.2
Apparel group _
do_ _
278.0
Men's wear
do
362.9
Women's wear _
do
218.5
Shoes
do
214.2
Automotive parts and accessories
do
351.3
Building materials
do
228.0
Drug
do
220.2
Eating and drinking places
do
262.1
Furnitttre and housefurnishings
do
284.2
General merchandise group t
do
Department dry goods and general mer340.5
chandise
1935-39 =100_.
268.6
M ail-order
do
208.3
Variety t
- - do
350.1
Grocery and combination
do
Department stores:
Accounts, collections, and sales by type of
payment:
Accounts receivable; end of month:
205
Charge accounts
1941 average =100__
127
Installment accounts
do
Ratio of collections to accounts receivable:
53
Charge accounts
_.__
percent..
24
Installment accounts
do __
Sales by type of payment:
54
Cash sales
percent of total sales__
39
Charge account sales
do
7
Installment sales
do _
225
Sales unadjusted total U. S.f
1935-39=100
284
Atlanta
-do
170
Boston
do
217
Chicago
do
216
Cleveland
- - do
316
Dallas
--do
'246
Kansas City
do
'213
Minneapolis
do
'193
New York
-do
204
Philadelphia
do
'217
Richmond
do
239
St Louis
do
'280
San Franciscof
do
286
Sales adjusted, total U. S.f
do
355
Atlanta
do
224
Boston f
do
271
Chicago
do
284
Cleveland
do
390
Dallas
do
'307
Kansas Cityf
do
'285
M inne apolis
do
'241
New Yorkcf
do
272
Philadelphiaf
-- do
'292
Richmond t
do
291
St. Louis
do
'347
San Franciscof
do
Stocks, total U.S., end of month:
253
Unadjusted
do
289
Adjusted
_
_
do
Mail-order and store sales:
230, 794
Total sales 2 companies
thous. of dol
74, 116
Montgomery Ward & Co
_ _do___
156, 679
Sears, Roebuck & Co
do
Rural sales of general merchandise:
273.8
Total U S , unadjusted
__ 1929-31 =100
262.8
East
do
423.8
South
do
* 224. 6
Middle West
- do
301.4
Far West
do
359.7
Total U. S., adjusted _ _ _
do
345.8
East
do
535.7
South
do
293.6
Middle West
do
410.1
Far West
- - do
WHOLESALE TRADE
Service and limited function wholesalers:
Sales, estimated, total t -mil. of dol
Durable goods establishments t
do_ __
Nondurable goods establishment t-- do
Inventories, estimated, total*
do
Durable goods establishments*
do
Nondurable goods establishments*
do
5, 720
1,874
3,846
6,105
2,485
3,620
434
603
589
591
606
569
588
648
706
706
1,024
429
230
84
110
725
330
113
149
797
348
103
126
792
357
. 86
135
844
364
95
135
770
342
78
136
824
342
102
132
741
382
116
138
751
414
125
155
839
394
139
161
774
'556
144
310
850
231
79
110
807
269.2
296.8
298.7
285.5
383.3
223. 2
219.7
344.2
234.5
223.0
258.7
284.2
303.5
303.0
311.0
277.9
400.6
242.4
228.3
336.3
231.6
228.6
252.4
292.6
303.9
312.4
316.6
282.2
411.0
239.8
254.2
359.7
225. 3
227.5
256.0
311.2
310.8
311.2
319.4
287.5
415.0
243.3
251.5
379.1
227.7
226.8
269.8
295.4
313.1
313.0
321.5
301.2
411.2
245.1
253.5
384.2
228.1
231.6
264.3
311.3
291.3
314.8
322.8
289.6
417.8
246.1
277? 6
383.5
235.9
229.5
265.6
314.0
296.0
317.3
325.8
290.9
427.6
242.5
263.6
388.1
232.2
226.9
274.8
320.6
323.3
316.6
344.4
310.8
454.8
250.1
242.2
389.6
231.8
227.5
270.3
315.0
325.9
312.3
345.3
300.1
478.6
235.4
223.8
386.0
232.3
221.8
231.1
300.4
328.3
307.6
330.3
298.4
447.5
231.0
207.3
374.9
225.0
217.4
216.1
300.3
' 406. 6
' 319. 1
' 349. 1
' 316. 5
' 448. 7
' 269. 5
' 260. 2
' 368. 6
' 227. 0
' 222. 4
' 247. 6
' 323. 4
267.2
307.1
335.6
320.8
425.7
253.8
237.1
342.1
233.4
223.0
235.6
295.1
337.1
267.2
215.1
353.7
347.3
270.3
223.2
359.8
383. 2
285.1
218.8
363.3
357.1
280.0
210.9
371.0
377.3
297.0
220.4
357.4
380.7
309.8
216.2
360.9
382.6
329.7
223.3
364.5
381.2
292.9
228.7
359.6
358.2
283.0
223. 6
365.4
355.2
279.7
230.3
360.4
' 378. 2
'301.0
' 254. 6
' 359. 6
345.6
276.5
230.2
366.5
181
124
190
129
191
131
192
134
192
136
168
138
165
144
188
151
206
155
219
160
'281
176
219
163
53
27
52
25
52
24
52
24
51
23
51
23
53
24
54
24
55
24
'53
25
52
22
53
40
7
238
316
174
225
233
324
254
206
202
216
245
258
295
286
359
226
281
284
368
292
267
241
280
307
307
327
52
41
7
285
387
228
266
284
384
301
263
234
284
317
318
326
284
368
228
274
270
384
307
278
229
263
303
318
339
51
41
8
288
367
231
283
280
399
320
284
237
262
295
326
333
306
390
243
289
295
448
337
283
255
278
327
343
362
52
41
7
300
375
240
289
304
393
326
294
252
287
311
333
339
311
394
242
289
320
418
336
306
268
284
318
340
365
52
41
7
289
333
242
290
288
345
301
277
246
266
294
311
338
312
397
252
299
306
406
328
291
265
283
327
346
372
54
38
8
243
314
176
243
244
331
270
238
181
207
235
277
311
316
392
255
312
313
436
322
294
266
288
321
355
365
52
39
9
259
354
175
248
268
365
303
261
187
217
260
305
338
312
402
237
295
308
419
336
292
256
289
319
354
383
50
42
8
319
410
260
305
320
444
343
316
257
295
357
366
355
312
402
252
299
316
423
329
291
252
295
338
362
355
51
42
7
328
424
258
313
338
427
360
343
280
322
359
362
346
306
396
232
292
316
388
343
311
250
307
330
338
336
51
42
7
357
434
285
345
366
475
374
334
298
356
388
404
391
287
362
228
283
293
390
319
279
229
269
306
321
323
53
41
6
495
635
'428
460
491
648
'501
'431
414
480
575
517
'582
'310
405
245
297
317
397
'332
281
'247
'287
346
338
'368
62
41
7
J>227
287
187
»216
230
306
v 325
203
194
209
226
238
»270
*288
359
*246
P271
303
377
J>280
271
243
279
304
290
»333
279
303
303
312
308
308
297
297
278
285
274
275
287
268
304
275
318
282
330
304
262
306
J>250
»286
215, 575
75, 631
139, 944
301, 627
107, 103
194, 524
319, 342
115, 382
203, 959
297, 939
104, 612
193, 327
308, 843
105, 305
203, 538
284, 626
97, 833
186, 793
302, 716
108, 903
193, 813
336, 487
119, 706
216, 782
353, 270
131, 302
221, 968
350, 748
124, 896
225, 852
431, 601
150, 960
280, 641
205,902
66, 689
139, 213
299.8
295.7
462.6
250. 5
309.4
370.5
361.5
- 507. 3
315.1
418.1
358.8
370.4
485. 1
309.4
382.3
408.6
412.4
537.2
349.2
464.5
342.6
343.3
467.7
293.4
375.6
372.8
360.2
530.8
314.2
420.6
322.1
306.9
428.4
277.5
362.7
350.9
333.6
505.1
293. 0
403.4
333.6
320.5
433.2
293.6
399.7
366.2
349.1
538.8
311.0
419.4
283.2
245. 5
374.0
249.1
356.3
387.9
344.8
550.8
337. 5
434.5
352.3
333.1
491.4
299.2
437.4
430.7
418.0
681.6
362.7
474.9
400.7
369.0
602.4
336.0
477.2
379.1
386.7
545.6
327.8
407.9
453.5
431.5
673.7
381.2
457.5
349.1
335.3
454.6
300.2
380.9
479.1
484. 8
701.3
403.8
522.8
368.3
376.1
510.8
308.0
430.8
516.1
489.6
706.7
450.8
657.3
322.7
294.0
470.5
289.0
402.8
276.7
265.4
404.6
233.4
308.4
363.6
349.2
511.5
305.0
419.6
5,282
1,867
3,415
6,113
2,552
3,561
5,868
2,143
3,725
6,157
2,635
3,522
5,815
2,193
3,622
6,107
2,685
3,422
5,517
2,047
3,470
6,136
2,692
3,444
5,735
2,114
3,621
6,354
2,728
3,626
5,750
2,057
3,693
6,322
2,716
3,606
6,074
2,222
3,852
6,389
2, 699
3,690
6,299
2,259
4,040
6,455
2, 733
3,722
6,326
2,289
4,037
' 6, 548
2,760
* 3, 788
' 6, 213
\ 2, 148
4,065
6,550
2,832
3,818
' 6, 134
' 2, 106
4,028
' 6, 447
2,854
' 3, 593
5,376
1,745
3,631
6,677
2,996
3,681
49
23
•
' Revised..
Preliminary, rf Revisions for adjusted index: 1945— June, 167; July, 174; Sept., 167; Oct., 175; 1946—June, 238; July, 233; Sept 210; Oct 181
{There have been revisions beginning 1947 in the series for chain stores and mail-order houses and additional revisions back through 1942 for the total and back through 1944 for variptv
and the general merchandise group; revisions through June 1947 will be shown later.
v««o«,jr
*New series. Monthly figures for 1942-47 and year-end figures or monthly averages for 1938-41 for inventories of service and limited-function wholesalers are on p. 24 of the September 1948
fRevised series. For revised figures for 1919-40 for the index of department store sales for the San Francisco district, see p. 23 of the April 1948 Survey there have been further mmmrevisions in the indexes beginning October 1940 as published on that page and in the May-July 1948 issues. The adjusted index of department store sales for the Boston, Philadelfor Philadelphia June 1947 for Boston and the United States, and September 1947 for Richmond are available upon request. For sales of service and limited-function wholesalers for 1939^6
see p. 23 of the September 1948 Survey; earlier annual totals and figures for early months of 1947 are on pp. 23 and 24 of the August 1948 issue; revisions for 1941 are as follows: Total 34 300- total
nondurable, 22,077. Data for all wholesalers are published currently on p. S-3. See note marked "}" regarding revisions in chain-store series.
«
' '
SUKVEY OF CUKEENT BUSINESS
S-10
Unless otherwise stated, statistics through
1946 and descriptive notes may be found in
the 1947 Supplement to the Survey
March 1949
1949
1948
January
February
March
April
May
June
July
August
September
October
November
December
January
EMPLOYMENT CONDITIONS AND WAGES
EMPLOYMENT
Employment status of noninstitutional population:
Estimated number 14 years of age and over,
total
thousands
Male
do
Female
do
Total labor force, including armed forces
do
Armed forces
do
Civilian labor force, total
do
Male
do
Female
_ _ _
do
Employed
do
Male
do
Female
do
Agricultural employment
do_ __
Nonagricultural employment
do
Unemployed
_ _ do
Not in labor force. _ _
do
Employees in nonagricultural establishments:}
Unadjusted (U. S. Department of Labor):
Total
thousands..
Manufacturing
- do
Mining
do
Construction
do
Transportation and public utilities
do
Trade
do
Finance
.
do
Service
do
Government
_
do
Adjusted (Federal Reserve) :f
Total
do
Manufacturing
- - do. _
Mining
do
Construction
do
Transportation and public utilities
do
Trade
do
Finance
__
do
Service
do
Government
> ._
do
Estimated production workers in manufacturing
industries, total (U. S. Dept. of Labor)}
thousands. _
Durable goods industries}
do
Iron and steel and their products J
_ do. __
Blast furnaces, steel works, and rolling mills§
thousands. _
Electrical machinery}
do
Machinery, except electrical}—
do
Machinery and machine shop productsf-do
IVIachine toolsS
do. __
Transportation
biles}
equipment, except automothousands--
Aircraft engines
- do
ShiDbuildiiiff and boatbuilding
do
Nonferrous metals and their products}. __ do
Lumber and timber basic products}
do
Sawmills and logging camps }
do
Furniture and finished lumber products j.do
Furniture!
do
Stone clav and glass products }
do
Nondurable goods industries}
do
Textile-mill products and other fiber manufactures}
thousands..
Cotton manufactures, except small wares }
thousands. _
Silk and ravon goods }
do
Woolen and worsted manufactures except
Apparel and otherfinished"textile products}
thousands. _
Mien's clothing
do
"Women's clothing
do
Leather and leather products}
do
Boots and shoes }
do
Food and kindred products}
do. __
Baking}
do
Canning and" preserving }.__
do___v
•108, 853
53,546
55, 307
63,166
1,391
61, 775
43,851
17, 924
60, 134
42,763
17, 371
8,627
51, 506
1,642
45, 685
107,979
53, 135
54, 844
60, 455
1,241
59, 214
42, 846
16, 368
•57, 149
41,273
15,876
7,060
50, 089
2,065
47, 524
108,050
53, 161
54, 889
61,004
1,226
59, 778
43,026
16, 752
57,139
41,137
16, 002
6,771
50, 368
2,639
47, 046
108,124
53,190
54, 934
61,005
1,236
59, 769
43,009
16, 760
57, 329
41, 244
16, 085
6,847
50, 482
2,440
47, 119
108, 173
53, 204
54,969
61, 760
1,236
60, 524
43, 369
17,155
58, 330
41,801
16, 529
7,448
50, 883
2,193
46, 414
108, 262
53, 24i
55, 021
61,660
1,238
60, 422
43, 298
17, 124
58,660
42,058
16, 602
7,861
50, 800
1,761
46,602
108, 346
53, 275
£5, 071
64, 740
1,261
63, 479
44, 794
18, 685
61,296
43, 420
17,876
9,396
51,899
2,184
43, 605
108, 597
53, 436
55, 161
65, 135
1,293
63, 842
45, 437
18, 405
61, 615
43, 989
17, 626
9,163
52, 452
2,227
43, 462
108, 660
53, 461
55, 199
64, 511
1,325
63, 186
45, 215
17, 971
61, 245
43, 889
17, 356
8,444
52, 801
1,941
44, 149
108, 753
53, 501
55,252
63, 578
1,366
62, 212
44, 101
18,111
60, 312
42, 850
17, 462
8,723
51,590
],899
45, 176
44, 603
16, 267
922
1,871
4,020
9,622
1,680
4,723
5,498
44, 279
16, 183
914
1,731
4,019
9,520
1,690
4,730
5,492
44, 600
16, 269
924
1,805
4,032
9,598
1,697
4,729
5,546
44, 299
15, 950
817
1,933
3,974
9, 576
1,704
4,768
5,577
44, 626
15, 904
933
2,052
4,042
9,617
1,716
4,738
5,624
45,009
16, 115
950
2,173
4,105
9,670
1,726
4,663
5,607
45, 078
16, 158
921
2,219
4,136
9,646
1, 754
4,645
5,599
45, 478
16, 441
952
2,253
4,139
9,660
1,761
4,622
5,650
45, 889
16, 697
948
2,239
4,092
9,733
1,732
4,647
5,801
' 45, 877 'r 45, 735 '46,087 " 44. 346
' 16, 597 16, 455 ' 16, 278 " 16, 875
941
••938
'939
"926
2,162
2,206
' 2, 078
" 1, 881
••4,091
4,066
' 4, 067
" 3, 997
9,889
' 10, 036 ' 10, 380
" 9, 624
1,723
1,720
' 1, 723
* 1,718
' 4, 641
'4,644
4,628
" 4. 564
5,789
5,714
5,994
" 5, 761
45, 019
16,332
927
2,056
4,075
9,694
1,688
4,723
5,524
44, 755
16, 208
920
1,945
4,071
9,664
1,698
4,730
5,519
44, 791
16, 246
930
1,941
4,069
9,634
1,697
4,729
5,545
44, 584
16, 045
820
1,972
3,995
9,721
1,696
4,768
5,567
44,726
16,018
936
2,032
4,028
9,689
1,699
4,738
5,586
45, 053
16, 172
947
2,110
4,056
9,779
1,700
4,663
5,626
45, 271
16, 302
915
2,093
4,078
9,791
1,737
4,645
5,710
45, 312
16, 278
944
2,106
4,078
9,805
1, 752
4,622
5,727
45, 654
16, 556
945
2,093
4,085
9,806
1,741
4,647
5,781
' 45, 669
' 16, 548
939
2,101
'4,095
9,817
1,740
r
4, 641
5,788
' 45, 439 ' 45, 251
' 16, 414 ' 16, 190
'937
'940
'2,120
' 2, 120
4,070
' 4, 085
' 9, 784 ' 9, 768
1,737
' 1, 740
'4,644
4,628
5,733
5,780
13, 150
6,795
1,634
13, 066
6,711
1,628
13, 131
6,791
1,634
12, 791
6,683
1,603
12,738
6,642
1,600
12,959
6,662
1,610
12, 987
6,681
1,601
13, 245
6,709
1,631
13,488
6,803
1,648
' 13, 375
' 6, 822
1,657
' 13, 233 •• 13, 055 * 12. 665
' 6, 807 ' 6, 735 " 6, 542
1,654
'1,638
" 1, 595
509
588
1,231
519
50
789
509
584
1,237
521
50
720
516
577
1, 232
519
49
784
512
563
1,202
514
48
772
518
548
1,207
508
48
772
523
547
1,217
512
47
739
527
535
1,209
506
47
787
536
538
1,202
502
48
763
535
548
1,208
509
48
788
535
553
1,209
507
48
r
782
472
135
25
133
409
738
598
489
265
445
6,355
464
135
25
* 128
409
736
594
490
266
443
6,355
465
136
25
126
413
749
607
485
264
452
6,340
462
137
25
123
406
754
611
470
256
451
6,108
438
125
25
116
398
772
628
458
250
454
6,096
434
128
26
109
398
799
655
459
248
458
6,297
430
130
26
104
388
829
681
452
244
450
6,306
414
134
22
100
395
844
692
461
250
461
6,536
439
139
27
98
399
843
691
466
253
464
6, 685
1,292
1,306
1,312
1,301
1,293
1,295
1,243
1,274
524
116
525
119
529
120
526
120
525
120
528
121
510
117
522
122
177
180
178
175
173
1,147
308
476
399
256
1,191
236
142
210
87
395
203
1,166
311
485
402
258
1,159
239
137
200
88
392
203
1,165
315
482
396
254
1,049
242
136
194
87
393
204
1,103
310
440
372
236
1,047
240
141
104
86
389
204
1,082
310
428
359
226
1,091
242
153
125
84
389
204
174
1,095
314
435
373
237
' 1, 257
248
187
200
85
390
204
108, 948
53, 587
55, 361
63, 138
1,414
61,724
43, 782
17, 942
59, 893
42, 551
17, 342
7,961
51, 932
1,831
45, 810
109, 036
53, 624
55, 412
62, 828
1,453
61, 375
43, £73
17, 802
59, 434
42, 162
17, 272
7, 375
52, 059
1,941
46, 208
109, 117
53, 658
55, 459
61, 546
1,468
60, 078
43, 161
16, 917
57, 414
41, 150
16, 264
6,763
50, 651
2,664
47, 571
" 44, 765
" 15, 938
"932
" 2, 067
" 4, 051
" 9, 696
" 1, 727
"4,564
"5,790
538
557
1,204
506
48
'777
543
'•552
'1,202
506
47
'782
449
145
28
97
403
831
678
470
256
468
'6,663
453
150
28
95
404
821
667
470
257
467
' 6, 426
'451
151
29
93
398
'788
635
'462
254
'462
' 6, 320
"446
" 6, 123
1,261
1,249
1,245
'1,236
" 1, 198
517
122
511
122
509
122
508
121
168
170
166
160
158
1,070
297
437
375
240
1,364
250
274
201
83
388
206
1,157
319
'479
383
245
1,418
251
326
197
86
394
207
1,173
320
490
379
241
1,537
253
444
195
88
398
207
1,175
319
489
376
239
1,400
258
292
198
90
401
206
1,159
308
488
363
230
1,306
256
197
205
90
403
207
"536
" 1, 177
"788
"438
"389
"729
"444
157
' 1, 145
303
485
'364
233
' 1, 253
252
163
218
87
401
207
" 1, 116
367
"1,55
"86
Tobacco manufacturers }
... do
"390
Paper and allied products }__
---do
Paper and pulp }
do _ _
Printing, publishing, and" allied industries }
432
436
442
433
430
432
442
432
435
439
438
'443
thousands. _
"438
151
146
147
149
147
151
145
148
145
144
152
144
Newspapers and periodicals }
do
184
184
189
183
183
185
185
183
188
190
188
189
Printing' book and job }
do
572
574
597
600
567
586
'599
580
587
'597
588
588
"587
Chemicals'and allied products }
do
211
211
205
202
210
'211
207
208
206
205
211
207
Chemicals}
do r
170
168
!62
170
170
'167
164
167
165
'165
163
"161
164
Products of petroleum" and coal }
do
114
115
112
114
114
108
rl!4
117
112
117
116
113
Petroleum refining }
-do
195
191
198
195
197
199
195
204
198
196
208
210
"190
Rubber products }
do
92
91
9]
91
92
90
91
93
96
90
99
101
Rubber tires and inner tubes }
do
«• Revised. * Preliminary.
1
} The unadjusted estimates of employment in nonagricultu ral establis hments ha ^e been re\rised beginning Janmvry 1946 fo r manufacltaring, mi ning, and governmeiit and 194 5 for construction, trade, finance and the total, to adjust the series to F ederal Sectirity Agenc;y data for 1946; revi sions affect ed the date\ for transportation a]ad public titilities only beginnin g January
1947; data for service were not affected. Revisions t tirough Ap ril 1947 wi U be showri later. See note mai•ked "}" on p. S-ll with regar I to revisi ons in the indicated series for p reduction
"}" above and there have been revisions in seasonal adjustments affecting the figures in most cases back to 1939; revisions through April 1947 will be" shown later. Estimates of production
workers in the machinery and machine-shop products industry have been revised beginning January 1939 to adjust the series to Federal Security Agency data through 1946; revisions through
1947 are shown on p. 16 of the January 1949 Survey.
§ See note marked "cf" on page S-ll.
SURVEY OF CUEEENT BUSINESS
March 1949
Unless otherwise stated, statistics through
1946 and descriptive notes may be found in
the 1947 Supplement to the Survey
S-ll
1949
1948
January
February
March
April
May
June
July
August
September
October
November
December
January
EMPLOYMENT CONDITIONS AND WAGES—Continued
EMPLOYMENT—Continued
Production workers, unadjusted index, all manu160.5
159.5
160.3
facturing (U. 8. Dept. of Labor)*.... 1939= 100..
188.1
188.2
185.8
Durable goods industries!
do .
164.9
164.2
164.8
Iron and steel and their products!
do. _.
Blast furnaces, steel works, and rolling millscF
132.9
130.9
131.0
1939= 100 __
222.9
227.0
225.4
Electrical machinery t
do
233.1
233. 0
234.0
Machinery, except electrical!
_ do
249.8
249.7
251. 1
Machinery andmachine-shopproductsf.do
134.5
137.6
137.6
Machine toolscf
do
178.9
195.0
Automobiles!
_ do_ __
196.0
Transportation equipment, except automo292.7
292.6
297.3
biles! .__
1939=100.
342.9
339.5
341.1
Aircraft and parts, excluding engines. __do
276.9
284.0
A ircraft engines. _ _ _ _ _ _ _ _ _ _ do. .
280.1
181.6
191.9
Shipbuilding and boatbuilding
do
184.4
178.4
180.0
178.5
Nonferrous metals and their products!, do
175.6
178.3
175.0
Lumber and timber basic products!
do. _
189.4
193.5
190.6
Sawmills and logging camps!
do
149.1
147.8
149.2
Furniture and finished lumber productsj.do
148. 2
149.0
149.6
Furniture !
do
153.9
150.9
151.6
Stone, clay, and glass products! - - - d o
138.4
Nondurable goods industries!
do. _
138.7
138.7
Textile-mill products and other fiber manu114.7
113.0
114.2
factures!
.—1939=100.
Cotton manufactures, except small wares!
125.2
126.6
125.6
1939=100..
91.2
94.8
Silk and rayon goods t
do
94.1
Woolen and worsted manufactures, except
112.6
113.9
113.1
dyeing and
finishing!
... 1939=100..
Apparel and other finished textile products!
147.5
145.3
147.7
1939=100134.2
137.0
135.5
Men's clothing
_ do_ _
166.4
168.3
Women's clothing
do
169.5
114.9
114.1
115.8
Leather and leather products!
_ do_ _
110.1
111.0
Boots and shoes!
_
do
111.7
134.5
139.3
135.6
Food and kindred products!
_ do. _
126.9
124.2
125.4
Bakine!..
do
90.1
94.6
91.0
Canning and preserving!.. _
do
155.3
148.0
143.3
Slaughtering and meat packing!
do
93.4
93.6
93.9
Tobacco manufactures!
do
148.0
148.7
147.8
Paper and allied products!
do
147.4
147.3
147.0
Paper and pulp!__.
__.do
134.0
132.8
133.5
Printing,publishing and allied industries !_do
121.0
121.4
122.0
Newspapers and periodicals!
do
145.3
148.6
147.1
Printing; book and job!
do
204.1
203.6
204.2
Chemicals and allied products!
do
265.6
293.8
2C3.9
Chemicals 1_
do
155.0
155.4
153.9
Products of petroleum and coal!
do
153.5
155.0
153.1
Petroleum refining!
+
do
173.5
168.9
172.0
Rubber products!
do
185.5
182. 4
177.7
Rubber tires and inner tubes!
do
Production workers, adjusted index, all manu161.2
160.1
159.8
facturing (Federal Reserve)!
1939=100—
188.4
188.7
186.4
Durable goods industries!
do
139.4
137.7
138.7
Nondurable goods industries!
do
Nonmanufacturing, unadjusted (U. S. Dept. of
Labor) :
Miningrt
92.6
91.1
91.6
Anthracite
1939=100108.0
108.7
106.8
BituminouscoaLdo
96.9
98.7
97.4
Metal
_— do
112.2
116.8
116.7
Quarrying and nonmetallic
do
110.5
111.1
111.1
Crude petroleum and natural gas production, .do
Public utilities:
110.9
109.8
110.3
Electric light and power.
do
129.2
128.6
128.7
Street railways and busses
do
97.2
98.2
97.8
Telegraph
do
196.2
197.4
195.0
Telephone
do
Services:
152.8
154.8
Cleaning and dyeing
do
149.3
120.1
117.7
Power laundries
do
117.6
116.4
117.2
Hotels (year-round)
_ _ _ do
116.8
Trade:
Retail, total
do_._
114.4
113.8
111.8
114.4
116.7
113.9
Food
_ do
General merchandise
do
129.4
122.9
124.5
Wholesale
.
do
116.3
116.1
115.3
Miscellaneous employment data:
Federal and State highways, total§
number-- 198, 438 190, 678 202, 090
Construction (Federal and State)
do
47, 734
41, 184
50, 461
108, 224
Maintenance (State)
do
106, 305
108,045
Federal civilian employees:
1,769
United States
_
thousands
1,781
1,794
District of Columbia
do
198
200
201
Railway employees (class I steam railways) :
Total
thousands
1,348
1,340
1,346
Indexes:
Unadjusted
__.
1935-39=100129.1
128.5
129.0
Adjusted
do
134.2
131.7
132.3
' Revised. 9 Preliminary.
{Estimates of production-worker employment (p. S-10), employment indexes, and
156.1
185.1
161.7
155. 5
183.9
161.4
158.2
184.5
162.4
158.5
185.0
161.4
161.7
185.8
164.5
164.6
188.4
166.2
131.8
217.4
227.4
247.7
130.4
191.9
133.3
211.6
228.5
244.6
129.7
190.5
134.6
211.1
230.4
246.5
128.4
183.6
135.5
206.6
228.8
243.7
127.9
195.5
137.9
207.7
227.4
241.9
130.5
189.7
137.7
211.5
228.7
245.1
131.2
195.9
137.7
213. 4
228.7
244.0
130.0
' 194. 4
290.9
346.0
278.4
176.8
176.9
179.4
194.8
143.4
144.0
153. 7
133.3
276.0
315.3
282.4
167.6
173. 7
183.6
200.1
139.7
140.3
154.7
133.1
273.7
321.5
290.8
157.2
173.9
190.0
208.7
139.8
139.4
156.0
137.5
270.6
328.5
287.4
149.3
lf.9. 2
197.3
217.2
137.8
137.4
153.2
137.7
260.8
336.4
243.2
143.7
172.4
200.8
220.7
140.5
140.3
157.0
142.7
276.3
349.2
300 1
140.8
173.9
200.6
220.4
142.0
141.9
158. 2
145. 9
282.9
366.2
309.0
140.5
176.0
197.7
216.2
143.3
143.6
159.4
T
143. 0
285.7
377. 4
315. 0
136. 5
176.1
195.4
212.7
143.1
144.2
158.9
140.3
'284.4
379.3
320.9
133.9
' 173. 6
' 187. 5
202.5
r
140. 7
142.8
' 157. 4
' 138. 0
9 275. 8
113.7
113.0
113.2
108.7
111.4
110.3
109.2
108.9
' 108. 0
P104.8
125.8
94.9
125.4
95.0
126.1
95.8
121.9
92.0
124.7
95.9
123.6
96.5
122.2
96.7
121.6
96.4
121.3
95.4
111.0
109.9
110.3
106.3
107.7
105.2
101.2
'100.4
99.3
139.8
135.0
153.7
107.1
102.2
122.6
125.8
93.6
77.0
92.4
146.8
147.8
131.8
122.2
143.5
201.4
266.3
154.9
155.2
163.8
170.7
137. 1
134.9
149.4
103.3
97.7
127.7
127.2
101.9
92.2
90.5
146.5
148.5
132.0
123.3
144.3
198.4
292.9
157.3
156.7
161.1
168. 5
138.6
136.9
152.1
107.4
102.5
147.1
130.2
124.3
147.8
90.6
146. 9
148.2
132.3
123.8
144.5
199.2
2S6.9
160.3
159.2
161. 6
169.4
135.6
129.1
152.7
108.1
103.7
159.7
131.3
182.5
149.1
88.8
146.1
149.4
131.1
123.7
143.4
196.6
288.9
160.7
159.8
157.7
167.6
146.5
138.9
167.3
110.4
106.0
166.0
131.8
217.0
145.7
92.5
148.6
150.0
131.8
124.4
143.5
203.3
302.1
160.3
158. 3
160.9
168.7
148.6
139.5
171.3
109.3
104.4
179.9
133. 0
295.7
144.5
93.9
149.8
150.0
133. 0
125.9
145.3
207.1
301.6
159.1
155.7
162.8
168.6
148.8
139.0
170.8
108.3
103.3
163.8
135.5
r
192. 3
146.4
95.9
151.0
149.5
134.8
127.0
147.9
208.1
300.3
r
152. 7
r
146. 9
163.5
165.9
146.9
134.1
170.6
104.5
99.4
152.9
134.3
'129.9
152.0
96.5
151.7
150.0
134.7
127.2
147.1
' 207. 8
'301.4
'157.7
' 155. 3
164. 5
168.2
r 145. 0
157.1
185.5
134.7
156.7
184.1
135.1
158.8
184.0
138.9
159.7
185.1
139.8
160.1
184.9
140.6
163.3
188. 0 '
143.8
162.8
188. 7
142.3
161.1
' 188. 4
r 139. 6
' 158. 5
' 186. 4
' 136. 6
91.9
79.7
99.0
122.5
111.2
91.4
108.9
98.7
124.2
112.5
92.6
109.6
100.2
126. 8
116.7
91.1
101.8
99.1
127.3
119.4
92.9
109.7
95.5
128.2
119.8
92.7
109.7
96.5
128.3
116.4
91.7
108.8
99.3
126.5
113.5
92.1
108.3
'95 8
124.6
114.0
92.0
109.0
97.6
121.8
113.2
111.7
128.3
97.9
198.3
112.3
128.5
96.3
198.4
114.1
128.3
96.0
199.4
115.8
127.2
95.7
202.8
117.1
128.1
93.3
203.7
116.2
127.9
92.3
202.3
115. 1
126.9
91.6
201.9
115.5
126.2
90.7
202.1
115.6
125.9
90.0
202.2
159.0
118.3
116.9
160.6
119.0
117.0
162.9
121.5
117.6
159.2
122.1
116.2
154.3
119.0
114.6
152.5
118.4
115.7
153.7
116.7
116.2
150.5
114.8
115.3
148.4
114.4
114.6
112.8
116.1
123.4
114.8
113.1
116.3
123.7
114.5
113.6
115.5
124.8
115.3
112.0
113.8
121.3
116.2
111.2
112.3
120.8
117.0
113.4
112. 0
127.2
117.1
116.0
113.8
135.3
118.1
119.4
113.8
146.4
118.3
129.0
114.6
177.1
117.8
233, 105
78, 726
109, 522
264, 290
105, 647
112, 631
286, 258
117, 968
118, 870
307, 451
135,452
121, 828
305, 031
132, 302
122, 274
298, 569
128, 869
120, 098
289, 056
124, 100
117, 957
259, 338
99, 158
117, 706
227, 808
69, 381
112, 519
1,811
202
1,826
203
1,860
206
1,877
207
1,895
208
1,899
208
1,880
209
1,896
212
1,899
211
1,900
212
r
r
163.3
189. 9
167.1
161.5
' 188. 5
166.8
r 159. 4
138. 5
215. 1
227.9
243.5
129.7
139.7
' 213. 1
r 227. 5
243.7
129.3
' 194. 4
r 193.0
r
' 186. 5
r 165. 2
132. 1
169.5
' 104. 8
100.8
' 146. 6
132.2
108.5
161.5
'93.3
' 151. 1
150.2
' 135. 2
128.3
147.8
T
207. 0
302.1
' 155. 4
154.8
161.8
165.3
9 154. 6
v 181. 2
v 160. 9
v 207. 0
9 222. 8
9 195. 8
9 169. 6
P 173. 5
9 135. 3
9 152. 0
M33.7
P141.4
9 105. 7
9 137. 5
»91.7
9 146. 9
9 133. 5
"203.6
151.7
9 157. 0
9 155. 2
9 181. 7
9 134. 3
1,287
1,350
1,381
1,391
1,385
1,380
1,376
1,376
r
1, 355
9 1,286
123.2
125.2
129.5
130.0
132.5
130.7
133.4
130.6
132.8
130. 1
132.3
12Q. 1
131.8
130.2
'128.0
iin 1
9 123.1
r 127.fi
190 1
•a 1OQ A
pay-roll indexes (p. S-12), for all manufacturing, total durable and nondurable goods industries, the
and chemicals, January 1946-August 1947; and the other individual industries designated, January 1946-July 1947. Data for men's clothing and women's clothing have been adjusted to
Federal Security Agency data through 1945. The industries in the transportation equipment group have been adjusted to 1939 Census of Manufactures data only.
§Total includes State engineering, supervisory, and administrative employees not shown separately.
fRevised series. Indexes for machinery and machine-shop products have been revised beginning 1939 to adjust the series to Federal Security Agency data through 1946- revisions through
1947 are indicated on p. 16 of the January 1949 Survey. Indexes for the mining industries have also been revised beginning 1939 and have been adjusted to Federal Securitv Aeencv data
through 1946; revised figures for 1939-47 will be shown later.
^Comparison of the series for blast furnaces, steel works, and rolling mills and the machine tool industry with data through 1946 from the Federal Security Agency indicated that no
general revision of these series is necessary; therefore no revisions have been made in the figures for the two industries as published in the 1947 Statistical Supplement to the Survey.
SURVEY OF CURRENT BUSINESS
S-12
Unless otherwise stated, statistics through
1946 and descriptive notes may be found in
the 1947 Supplement to the Survey
March 1949
1949
1948
January
February
March
April
May
June
July
August
September
October
November
December
January
EMPLOYMENT CONDITIONS AND WAGES—Continued
PAY ROLLS
Production-worker pay rolls, unadjusted index,
all manufacturing (U. S. Dept. of Labor)!
1939=100
Durable goods industries!
do
Blast furnaces, steel works, and rolling mills §
1939=100
do
Electrical machinery!
Machinery and machine-shop productst do
Machine tools§
do
Automobiles t
do
Transportation equipment, except automobiles!
1939=100
Aircraft and parts excluding engines do
Aircraft engines
do
Shipbuilding and boatbuilding
do
Nonferrous metals and their products! do
Sawmills and logging camps!
do
Furniture and finished lumber products! do
Furniture!
do
Stone, clay, and glass products t
do
Nondurable goods industries*
do
Textile-mill products and other fiber manufactures!
1939=100
Cotton manufactures exc small wares! do
Silk and ravon goods!
do
Woolen and worsted manufactures, except
dyeing and
finishing!
1939=100
Apparel and other finished textile products!
1939=100
Men's clothing
_ _ _ . _ » > do_ _
Women's clothing
do
Leather and leather products!
do
Boots and shoes!
do
Food and kindred products!
do
Baking!
do
filftnghtPrtnp aT"! mfipf, packing!
do
Tobacco manufactures!
do
Paper and allied products!
do
Paper and pulp!
do
Printing, publishing, and allied industries!
1939=100
Newspapers and periodicals!
do
Printing; book and job!
do
Chemicals and allied products!
do
Chemicals!
_ _
do _
Products of petroleum and coal!
do
Petroleum refining!
do
Rubber products!
do
Rubber tires and inner tubes!
do
Nonmanufacturing, unadjusted (U. "s"." Dept.'bf"
Labor):
Miningif
Anthracite
1939=100
Bituminous coal
do
Metal
do
Quarrying and nonmetallic
do
Crude petroleum and natural gas prod, do
Public utilities:
Electric light and power
do
Street railways and busses
do
Telegraph
do
Telephone
do
Services:
Cleaning and dyeing
do
Power laundries
do
Hotels (year-round)
do
Trade:
Retail, total
do
Food
do
General merchandise
do
Wholesale
_ _
_ _
do_ _
358 7
403.1
341 9
354 1
393.1
337 6
368 4
402.0
340 8
347.1
393.4
329 6
346.7
390.8
334.4
369.0
401.3
340.6
360.0
403.0
336 9
374.7
418.8
360.5
382.2
423.7
366 0
' 382. 9
' 435. 7
376.0
' 379. 0
r 429. 9
373.6
377.8
430.9
371.4
261 2
471.0
473 g
513 0
250.1
408.7
257 6
465.1
471 9
513 7
254.4
357.6
260 9
459.1
475 2
534 7
249.2
396.5
253 0
444.3
463.8
511.9
240.2
386.2
265.4
431.6
466.4
509.3
240.7
362.6
268.4
440.0
480.7
519 6
242.9
385.7
269.9
436.3
473.6
507.9
239.0
423.3
295.8
454.8
482.3
520.0
246.8
419.1
300 3
465.4
484 0
523.2
248.3
425.9
305.0
474.4
491.7
531.5
250.3
' 451. 3
304.7
479.2
486.9
527.3
248.1
' 436. 5
306.1
474.6
491.6
532.6
248.0
455.6
611.2
657 4
482.9
416.7
372.7
413 5
450 3
352 2
355. 4
322.9
315.3
693.3
667 3
469.4
385.4
372.9
417 2
452.4
350 2
356.0
321.4
316.0
600.4
675.9
473.9
383.7
377.1
427 6
466.4
349 2
353.4
336.6
315.7
601.4
695.2
481.0
373.6
368.3
433.4
471.0
333.0
336.3
337.9
301.9
566.4
634.2
493.5
345.7
362.5
461 1
508.4
325.6
328.6
343.4
303.6
561.2
649.2
617.5
321.7
368.2
488.5
543.3
326.0
325.7
347.1
317.6
552.4
661.1
533.1
304.5
360.6
502.9
663.3
320.4
317.5
334.2
318.0
547.7
698.4
453.7
290.6
379.3
538.8
604.6
337.3
334.8
358.9
331.6
681.8
746.1
570.0
283.1
386.3
523.3
584.4
344.6
344.2
361.2
341.6
613.3
794.9
599.7
291.2
394.2
519.2
575.3
354.9
358.1
372.1
331.2
611.8
830.7
601.3
262.4
'391.9
499.7
649.7
349.2
356.7
366.9
' 329. 3
635.5
839.0
618.9
288.6
390.2
468.8
505.7
345.4
354.4
366.9
326.0
303.0
378.7
271.5
310.6
377.0
282.2
315. 6
385.1
288.0
307.1
374.7
287.6
303.8
369.7
289.0
304.6
365.9
292.2
285.4
342.0
276.9
298.2
357.4
296.2
295.5
354.9
301.3
291.2
350.0
299.4
291.9
348.9
299.1
291.9
352.7
293.4
292 0
321.1
322 1
308.6
307.9
311.6
296.6
297.8
286.1
265.7
'268.8
270.9
337 0
313.4
374.8
258.7
258.3
296 6
243.2
239 3
323.0
210.5
328.0
330.3
345 2
316.4
387.1
262.5
261.0
288.5
257.2
239.9
280.6
195.7
328.9
333.8
343.2
324.8
376.4
251.7
249.7
285.8
249.8
227.0
295.8
204.6
330.8
335.6
306.6
317.1
307.1
227.1
219.5
267.4
250.7
240.8
192.5
205.7
325.7
333.3
297.9
311. 5
299.3
215.4
202.8
281.3
259.2
260.4
226.4
201.3
331.1
343.2
303.6
312.9
310.7
233.4
225.3
328.3
270.8
314.8
329.2
205.8
337.8
347.7
303.6
294.1
326.6
236.5
230.6
352.2
273.5
469.2
318.8
205.5
341.7
357.7
342.3
324.0
380.3
248.3
242.9
351.3
273.6
525.4
296.0
218.3
352.1
363.6
348.1
324.7
390.2
245.1
238.7
389.8
282.6
835.0
303.5
214.8
355. 0
362.9
325.0
302.4
351.0
236.8
227.6
358.2
286.6
' 537. 1
305.4
224.3
357.4
359.1
335.4
' 297. 5
379.8
223.3
211.3
340.7
280.8
r
313. 7
336.2
223.5
362.2
364.7
327.4
293.0
369.8
234.3
227.4
333.5
279.5
280.0
365.6
217.9
356.5
357.9
255.3
218.9
295.9
426.7
586.8
318.1
303.9
354.9
344.4
254.7
224.6
290.9
425.6
684.8
315.4
302.1
337.2
315.4
258.6
229.2
292.5
425. 1
684.3
320.0
306.6
320.6
292.4
259.5
234.6
291.0
422.1
591.1
316.7
310.9
312.8
286.4
262.2
236. 5
296.7
422.5
589.6
335.8
326.2
318.9
305.7
264.9
238.1
299.3
434.9
613.6
342.2
330.8
330.2
322.0
260.1
235.6
296.0
432.7
600.4
353.4
344.9
329.7
329.8
264.8
240.6
297.6
450.6
629.1
358.2
345.5
347.2
341.0
273.6
253. 6
304.8
462.5
641.6
345.6
326.1
344.9
326.2
273.6
252.2
305.4
460.1
628.6
'344.8
' 324. 7
345.5
318.2
275.4
253.3
307.9
r
461.
9
r
637.5
'354.9
r
343. 9
341.9
312.9
280.6
258.9
316.0
462.3
639.7
346.4
338.2
332.7
299.6
242.4
350.5
198.9
272.8
215.5
232.8
320.0
201.7
262.0
219.9
255.9
342.0
201.3
272.7
218.3
195.4
167.4
201.7
295.4
213.4
246.2
344.3
206.1
312.5
223.4
246.0
344.2
202.2
329.1
227.1
193.3
293.0
202.2
329.7
240.8
260.3
365.8
210.4
348.5
251.0
247.3
355.1
211.2
342.4
235.6
260.4
358.5
224.9
345.2
230.7
r
216. 0
343.1
' 216. 8
329.5
235.3
224.6
353.3
225.9
321.2
235.7
187. 9
230.1
209.5
315.8
188.2
234.7
212.6
316.3
184.4
232.6
213.0
314.7
188.6
227.1
224.8
317.7
192.1
228.1
231.1
326.1
196.4
231.2
228.5
327.1
202.8
232. 2
233.2
336.1
204.9
235. 2
225.5
331.7
204.3
'233.4
220.4
335.4
204.5
235. 7
217.4
r
338. 8
205.8
' 231. 2
215.3
' 349. 7
206.4
233.4
212.6
339.7
285.6
232.9
230.4
271.9
225.4
233.2
291.2
227.5
229.0
308.0
231.5
233.4
312.4
232.3
234.6
324.8
238.3
236.3
308.0
240.6
234.4
287.2
228.1
233.7
296.8
232.9
235.3
300.0
227.6
238.7
289.3
226.9
237. 9
291.3
227.7
237.9
209.4
219.4
233.0
211.7
208.4
221.5
221.4
214.9
210.4
226.1
225.5
210.8
211.1
225.5
225.8
211.0
213.8
227.0
229.2
211.8
218.3
231.9
236.5
211.8
218.6
232.9
233.6
215.3
218.1
229.0
231.8
220.6
219.4
226.0
238.3
220.8
223.5
227.4
252.7
222.5
228.4
229.6
270.3
224.2
250.4
234.8
334.8
224.4
39.8
40.0
39.7
'40.0
••40.9
40.8
'39.8
'40.4
40.5
'40.0
'40 8
40.5
*39.6
*> 40 5
J»40 2
39.3
40.0
40.6
40.4
40.2
41.0
40.0
'40.3
r
40. 7
39.8
40.3
41 1
*39.8
v 40 4
40.7
41.6
37.4
41.3
41.8
'39.9
41.0
41 5
38 0
41.5
41 6
40 3
v 41 6
39.5
••39.8
'39.3
40.6
MO. 9
40.7
41.2
36.6
40.8
41 8
41.' 6
40.6
41.7
••37.5
'41.2
42 5
42.2
'40.9
41.2
35 0
40.8
41 6
4L3
41.1
41.7
39 1
41.2
41 5
4LO
r
T
r
LABOR CONDITIONS
Average weekly hours per worker (U. S. Dept. of
Labor)*
39.9
40.2
40.5
40.4
40.1
40.1
40.2
39.8
All manufacturing
hours..
40.1
40.5
40.5
40.9
40.5
40.9
40.0
40.7
Durable goods industries
__
do
40.3
40.3
39.9
40.6
40.4
39.6
40.6
40.3
Iron and steel and their products ._. do.
Blast furnaces, steel works, and rolling
39.9
39.3
39.5
39.5
39.4
38.6
39.6
38.7
mills _.
.
hours.
Electrical machinery
do
39.9
39.6
40.0
39.4
40.5
40.4
40.3
40.0
41.1
41.4
41.4
Machinery, except electrical. _
do
41.8
41.4
41.6
40.6
41.0
Machinery and machine-shop products
41.6
41.8
41.8
41.6
41.6
41.3
42.0
40.7
hours __
42.0
42.0
Machine tools
do
42.3
42.3
41.4
42.0
42.0
41.6
38.9
35.2
38.5
39.6
38.1
38.6
37.7
Automobiles ..
_
do
38.9
Transportation equipment, except automo40.3
39.6
40.3
40.5
40.0
39.8
39.2
biles
hours.39.7
Aircraft and parts, excluding engines
39.4
39.9
40.1
40.6
40.4
40.4
hours. .
40.0
40.5
40.5
40.9
Aircraft engines
_._do
40.6
40.1
40.6
40.6
41.1
40.6
40.9
40.2
38.9
40.3
39.4
39.2
Shipbuilding and boatbuilding
do
37.7
38.8
41.1
Nonferrous metals and their products _ _ do
41.2
41.2
40.9
40.6
40.8
40.1
40.7
Lumber and timber basic products
do
42.4
42.3
41.7
42.1
42.5
42.8
41.9
43 1
Sawmills and logging camps. _
do
41.1
42.0
42.0
41.6
41.3
42.6
41.7
42.9
r
Revised. * Preliminary. l Not available.
See note marked "c?" on page .13-11.
Revised beginning January 1946; see note marked "!" on p. 8-11.
! Revised series. Data revised beginning 1939; see note marked "t" on p. 8-11.
•Beginning in this issue, preliminary data for weekly hours and earnings will be shown each month for the major groups, to provide this
"40.5
m
information one month earlier than heretofore
SUKVEY OF CURRENT BUSINESS
March 1949
S-13
1949
1948
Unless otherwise stated, statistics through
1946 and descriptive notes may be found in
the 1947 Supplement to the Survey
January
February
March
April
May
June
July
August
September
October
November
December
January
40.7
40. 9
MO.l
P 40. 00
r 29 2
41.1
41.1
40.6
••39.3
"37.4
EMPLOYMENT CONDITIONS AND WAGES—Continued
LABOR CONDITIONS—Continued
Average weekly hours per worker •—-Continued
Manufacturing — Cori tinned
Durable goods industries— Continued
Furniture and finished lumber products
hours..
Furniture.
do
Stone, clay, and glass products
do
Nondurable goods industries
_ do
Textile-mill products and other fiber manufactures __ __
hours
Cotton manufactures, except small wares
hours
S ilk and rayon goods
do
Woolen and worsted manufactures, except
dyeing and finishing, _
hours
Apparel and other finished textile products
hours. .
Men's clothing
do
Women's clothing
do
Leather and leather products
do
Boots and shoes.
_
do
Food and kindred products
do
BakingJ
.
_ . _
do
Canning and preserving
do
Slaughtering and meat packing
do
Tobacco manufactures.
do
Paper and allied products
do
Paper and pulp. ...
do
Printing, publishing, and allied industries
hours..
Newspapers and periodicals
do
Printing; book and job
do
Chemicals and allied products
do
Chemicals
... ._
do
Products of petroleum and coal _ _ do
Petroleum refining
do
Rubber products
do
Rubber tires and inner tubes
do
Nonmanufacturing industries:
Building construction («private)
do
Mining:
Anthracite.
_ do
Bituminous coal.. ^
^
do
Metal
do
Quarrying and nonmetallic
do
Crude petroleum and natural gas production
hours.
Public utilities:
Electric light and power
do
Street railways and busses. __
do
Telegraph
do
Telephone. _
do
Services:
Cleaning and dyeing
do
Power lann^rtas
do
Hotels (year-round).
do
Trade:
Retail
do
Wholesale
do
Industrial disputes (strikes and lock-outs) :
Beginning in month:
Work stoppages
number
Workers involved
_
thousands
In effect during month:
Work stoppages
._
number
Workers involved
thousands
Man-days idle during month
do
to
Percent of available working time
U. S. Employment Service placement activities:
Nonagricultural placements _ _.
thousands
Unemployment compensation (Soc. Sec. Admin.): "
Initial claims
.
_
thousands
Continued claims
do
Benefit payments:
Beneficiaries, weekly average
do
Amount of payments
thous. of dol
Veterans' unemployment allowances:
Initial claims
thousands
Continued claims
do
Claims filed during last week of month do
Amount of payments
thous. of dol__
Labor turn-over in manufacturing establishments:
Accession rate__.monthly rate per 100 employees..
Separation rate, total
do
Discharges
do
Lay-offs.
do .
Quits
. _
do
Military and miscellaneous
do.—
41.9
42.2
40.0
40.0
41.4
41.9
39.9
39.9
41.8
42.1
40.8
39.9
41.«0
41.1
40.7
39.6
40.8
40.8
40.7
39.5
40.7
40.6
40.6
39.8
40.3
40 0
39.4
39.5
41.0
40 7
40.9
39.5
40.8
40.7
40.2
39.6
41.5
41.5
41.0
39.1
r
^39.5
P38.6
40.5
40.2
40.6
39.9
39.6
39.5
38.6
38.5
38.0
37.9
38.0
38.3
40.7
41.9
40 1
41.8
40.7
42.2
40.1
41.8
39 6
41.8
39.1
41.8
38 0
41.6
37 7
41.3
37.1
41.2
36.9
41.1
37 0
41.1
37.5
40.8
40.8
40.8
40.7
39.9
40.1
40.3
39.5
39 6
38.8
37.6
38.1
38.9
36.6
37.1
36.0
39.0
38.8
42 0
41.6
37.3
44.8
38.6
43 1
44.4
36.7
37.1
36. 1
39.0
38 8
41 7
43 6
38.4
40.7
36.2
43 1
44.5
36.7
37.4
36.1
37.8
37.5
4*1 6
41.9
36.5
43.6
37.7
43.1
44.5
36.2
37.3
35.1
36.2
35.3
42 4
42.1
37.0
48.1
38.2
42.7
44.1
35.8
36.8
35.1
35.5
34.3
42 5
42. 7
36.8
46.7
37.7
42 8
44.6
35.6
36.4
35.0
37.0
36.4
42 8
42.9
38.0
44.1
37.8
42.8
44.1
35.8
36.8
34.9
37.4
37 0
42 6
42 7
39.0
42.9
38.0
42 5
43.9
36.4
36.8
36 0
37.9
37 4
41 0
42 5
36.1
41.2
39 0
43 1
44 4
36.1
36.7
35 6
37.3
36 8
42 6
42 8
41.4
42.3
38 0
42 7
43 8
'34.8
35.0
33.5
36.3
35.6
41.8
42.4
39.5
41.9
38.9
42.9
43.8
35.9
r
35. 4
35 7
35. 5
34 4
r
41 5
41 9
35.4
43.1
37 8
42 9
44 0
35.4
35.3
35.1
37.2
36.6
41 8
42.0
36.3
44.5
38.1
42 5
43.4
^35.1
39! 5
37.8
40.7
41.4
41.2
40.7
30.8
39.7
38.2
39.1
38.3
39 8
41.1
41.1
40.8
40 0
38.5
36.0
39.5
38.4
40.3
41.2
41.0
40.6
40.1
37.8
34.8
39.2
38.5
39.9
41.0
41.1
40.3
40.2
37.8
35.3
39.1
38.3
39.8
41.0
41.2
41.2
40 9
39.0
37.4
39.1
38.0
39.7
41.4
41.9
40.7
40.2
39.7
38.8
38.8
37.8
39 7
41.1
41.3
40.8
40 4
39.7
39.3
39.2
38.4
39 8
41.0
41 1
41.2
41 0
40 3
39.5
39.4
38.9
39 8
41.3
£0 9
39 3
38 5
39 4
37.7
38.9
38.5
39.1
41.4
r 41.0
41.1
r
40.8
39.3
37.2
39.1
39.5
38.6
40 3
41.4
41 1
40.5
40 6
38 5
35.6
*38.8
39 6
r
41. 4
41 1
r
40 4
r 40 3
38 6
36 2
37.2
36.7
37.1
37.0
37.1
37.9
37.8
37.8
37.5
37.4
36 7
37.8
39.0
40.9
42.5
42.7
36.2
38 7
42 9
42.1
40.3
40 6
42.4
42.9
132.1
127.0
42.1
43.7
39.4
40 3
42 8
44.4
39.4
39.9
42.4
45.0
31.7
34 2
40.6
44.1
38.3
39 4
42.9
45.9
36.6
37 9
41 4
45.0
38.7
38.6
42.7
45.8
33
37
42
44
4
1
3
3
34.0
38 1
43 2
44.1
39.9
40.4
39.7
40.0
40.2
39.5
40.1
41.3
39.6
39.7
39.6
40.0
41.7
46.8
45.0
39 4
41.8
46.8
45.1
39.5
41.8
47.0
45.8
39.8
42.1
47.5
45.6
39 4
41.6
46.3
44.8
39 4
41.6
M6.4
44.5
r
39. 5
41 8
46 1
44 5
* 39 4
41.9
46.4
44 2
38 7
41.0
41.3
44. 2
40 8
r 41 g
44 1
41 4
41 7
44 1
39.7
41. 0
r 39 5
r
41 2
40 2
41 4
r
00
r
0
^36.8
P 40 9
P 36.0
P 41 5
Ml.O
(2)
P 38 4
42.4
46.3
44.4
38.9
42.2
47.7
44.5
38 7
41.6
47.3
44.4
38.7
41.8
46.6
44.1
38.8
41.4
42.3
43.9
40.5
41.9
44 6
41.5
42.0
44.0
42.1
42.2
44.2
42 0
41.8
44 2
42.4
41.8
44.1
41.7
42.2
44.0
39.8
41.1
44 9
41 1
41.8
43 9
39.8
41.0
40 0
41.1
39.8
40.9
39.8
41.0
39 9
41.2
40.3
41.1
40.8
41.2
41 3
41.0
41 2
40 2
215
77
245
88
265
493
315
174
330
166
335
165
365
220
350
150
285
160
250
110
200
90
125
40
r> 99 K
485
621
7,420
1.0
535
347
4,100
6
540
245
2,200
.3
575
250
2,100
3
500
275
2,500
3
425
200
2,000
3
375
190
1,900
1
225
100
600
1
P 400
P 1 10
*800
p l
575
312
2,750.
.3
r
r
r
r
•p 7Q
300
100
1,050
.2
355
127
900
1
415
550
6,430
.8
374
947
4,042
344
413
458
482
524
478
509
551
339
308
878
4 865
1 046
4,637
1 015
4* 259
923
4,614
839
4,294
706
4,001
680
3,591
491
724
3,306
422
883
4,244
956
3 953
1 323
5 175
3 j 552
776
59 209
849
60 730
924
76 573
904
73 574
899
66 432
847
71, 940
811
67 630
778
64 562
727
59 797
702
55 435
731
62 151
939
79 966
1,212
102 963
437
2 553
628
48, 933
374
o 637
651
49, 466
355
2 930
604
55, 782
299
2 323
'522
46, 940
244
1 727
390
33, 535
358
1 716
385
30, 676
303
1 720
398
31, 626
302
1 741
396
32, 732
227
1 477
310
29, 435
192
1 017
237
19,253
256
1 J 24
259
20,088
•p 381
P 1 574
"388
* 27, 935
4.6
4.3
.4
1.2
2.6
.1
3.9
4.2
.4
1.7
2.5
.1
4.0
4.5
.4
1.2
2.8
.1
4.0
4.7
.4
1.2
3.0
.1
4.1
4.3
3
1.1
28
.1
5.7
4.5
.4
1.1
2.9
.1
4.7
4.4
4
1.0
29
.1
5.0
5. 1
4
1.2
34
.1
5.1
5.4
4
1.0
39
.1
4.5
45
4
1.2
28
.1
3.9
4 1
4
14
2. 2
.1
*>2.6
p4 3
f 3
52.07
55.46
57.43
51.75
54.77
56.99
52.07
55.25
57,28
51.79
54.96
56.49
51.86
54.81
57.39
52.85
56.13
57.70
52.95
56.21
57.71
54.05
58.19
60.52
54.19
57.95
60.69
60. 58
59.74
59.26
58.37
60.54
59.54
60.37
65.10
66.02
3 g 578
•p 450
V 9 9Ofi
*>571
* 39, 849
v2 2
p17
*> .1
WAGES
Average weekly earnings (U. S. Dept. of Labour*
All manufacturing
dollars. _
Durable goods industries
do
Iron and steel and their products
,.do
Blast furnaces, steel works, and rolling
mills
dollars..
r
' 54. 65
' 59. 41
62. 17
' 54. 57
' 58. 71
r
61. 74
67.02
66.20
r
r 55. 10
' 59. 40
61.91
v 54. 77
* 59. 26
" 61. 53
65.73
Revised. * Preliminary.
1 Data reflect work stoppages
2 Not available.
3 Partly estimated.
JData beginning May 1947 are not comparable with earlier data; comparable April 1947 figures and April 1947 figures comparable with earlier data are shown on p. S-12 of the June 1948
Survey.
• Beginning i a this issue, preliminary data for weekly hours and earnings will be shown each month for the major groups, to provide this information one month earlier than heretofore.
SURVEY OF CUERENT BUSINESS
S-14
Unless otherwise stated, statistics through
1946 and descriptive notes may be found in
the 1947 Supplement to the Survey
March 1949
1949
1948
January
February
March
April
May
June
July
August
September
October
November
December
January
EMPLOYMENT CONDITIONS AND WAGES—Continued
WAGES—Continued
Average weekly earnings*— Continued
Manufacturing— Continued
Durable goods industries— Continued
Machinery, except electrical
.. dollars, _
Machinery and machine-shop products
dollars
Machine toois__
_ __
do_ __
Automobiles
do
Transportation equipment, except automobiles .
_ dollars..
Aircraft and parts, excluding engines-do
Aircraft engines
do
Shipbuilding and boatbuilding
do..-,.
Nonferrous metals and their products. _do
Lumber and timber basic products
.do
Sawmills and logging camps
do
Furniture and finished lumber products-do
Furniture
do
Stone, clay, and glass products
do
Nondurable goods industries _
""
do
Textile-mill products and other fiber
manufactures
_
dollars. _
Cotton manufactures, except small wares
dollars. _
Silk and rayon goods. _.
do
Woolen and worsted manufactures, except
dyeing and finishing _ _
dollars
Apparel and other finished textile products
dollars..
Men's clothing
do
Women's clothing
do
Leather and leather products
do
Boots and shoes
do
Food and kindred products
<k>
BakingJ
do
Canning and preserving
do
Slaughtering and meat packing
do _
T o bacco manufactures
do
Paper and allied products..
___do__
Paper and pulp
_
do
Printing, publishing, and allied industries
dollars. _
Newspapers and periodicals
do
Printing; book and job.
do
Chemicals and allied products
do
Chemicals
do"
Products of petroleum and coal
do
Petroleum refining
do
Rubber products
.
do
Rubber tires and inner tubes
do
Average hourly earnings (U. S. Dept. of Labor)*:
All manufacturing
_•
dollars..
Durable goods industries
do
Iron and steel and their products
do
Blast furnaces, steel works, and rolling
mills
dollars..
Electrical machinery
do
Machinery, except electrical
do
Machinery and machine-shop products "
,„ , .
dollars. .
Machine tools
do
Transportation equipment, except automobiles..
dollars..
Aircraft and parts, excluding engines
dollars..
Aircraft engines
do___
Shipbuilding and boatbuilding
do
Nonferrous metals and their products. _do
Lumber and timber basic products_._"doI-__
Sawmills and logging camps
do.
Furniture and finished lumber products
„
dollars..
Furniture
do
Stone, clay, and glass products
do
Nondurable goods industries
do
Textile-mill products and other fiber manufactures
dollars..
Cotton manufactures, except small wares
dollars. .
Silk and rayon goods
do
Woolen and worsted manufactures, except
dyeing and
finishing
dollars
Apparel and other finished textile products
_, , _ .
dollars-Men's clothing
do
Women's clothing
do
Leather and leather products.
IldoIIII
Boots and shoes
do
Food and kindred products
"do
Baking!
do .
Canning and preserving
do
Slaughtering and meat packing
do
Tobacco manufactures. _.
do
Paper and allied products.. •__
_do
Paper and pulp..
do_~_.
r
Revised.
* Preliminary.
1 Not available.
59.13
58.65
59.12
59.30
59.33
60.50
59.83
61. 45
61.31
' 62. 25
'61.92
62.67
p 61. 43
58.33
59.64
60.96
58.11
60.54
59.00
58.29
60.58
59.81
58.57
60.29
59.14
59.05
60.63
54.44
59.51
61.75
61.30
58.81
61.09
63.48
60.73
61.85
64.67
60.42
62.11
62.74
61.76
63.31
' 67. 29
61.46
62.84
r
65. 46
62.11
62.75
' 68. 09
* 71. 43
59.56
55.53
59.30
64.05
55.06
44.49
42.94
47.02
48.54
50.10
48.45
58.67
56.13
58.29
61.54
55.07
45.01
43.41
46.68
48.38
49.98
48.56
59.40
56.71
59.53
62.07
55.23
45.32
43.86
47.08
48.58
51.41
48.66
59.89
57.75
60.33
62.04
54.87
45.59
43.99
46.34
47.64
51.77
48.33
59.30
57.74
61.02
60.40
54.96
47.39
45.06
46.39
47.60
52.30
48.65
59.27
57.99
62.14
59.76
55.91
48.43
47.37
46.54
47.57
52.45
49.37
68.95
57.89
64.79
59.49
56.34
48.14
47.29
46.30
46.95
51.50
49.49
60.53
59.68
65.11
58.87
57.97
50.64
49.90
47.68
48.47
64.07
49.79
60.74
61.38
66.26
58.62
58.73
49.22
48.31
48.16
49.25
53.98
50.37
'62.70
62.45
67.73
'60.52
T 59. 25
'r 49. 60
48. 45
r 49. 20
50.56
r 55. 11
r 49. 70
' 61. 98
r 63. 30
66.61
56.16
r 58. 76
r 48. 34
64.56
63.61
67.30
63.21
59.36
47.24
45.54
48.76
50.42
54.85
'50.51
v 65. 11
45. 19
45.79
46.32
45.46
45.22
45.29
44.15
45.07
45.12
44.94
'45.17
45.48
v 44. 47
43.81
47.55
43.43
47.92
43.98
48.53
43.08
48,31
42.64
48.38
42.00
48.47
40.63
47.69
41.61
48.85
41.69
49.62
41.60
49.13
41.60
49.26
42.21
48.81
48.79
52.82
53.49
52.33
52.61
53.10
52.31
52.13
51.19
49.37
' 50. 25
51.61
40.00
44.11
48.52
42.63
41.09
49.44
47.03
41.10
57.12
37.97
53.20
57.75
40.23
44.05
49.09
42.99
41.35
49.18
49.30
42.73
51.88
35.04
53.61
58.41
40.09
44.73
48.10
41.87
40.21
49.36
47.38
40.77
56.62
36.52
53.82
58.50
37.61
44.31
43.20
40.34
38.09
50.95
48.00
41.63
68.51
37.19
53.36
58.02
37.24
43.50
43.27
39.65
36.79
51.26
49.09
41.35
67.66
37.12
54.28
59.47
37.61
43.19
43.94
41.38
39.00
52.09
50.03
41.16
61.24
37.86
55.34
60.40
38.74
43.03
46.09
41.64
39.41
51.77
50.01
41.78
58.75
38.51
55.97
61.49
40.27
43.98
49.06
42.80
40.65
49.74
46.77
39.50
55.71
39.26
56. 94
62.32
40.38
43.81
49.15
42.65
41.61
51.76
51.11
46.01
57.64
37.97
56.98
62.21
r 37. 77
41 . 07
44.39
41.56
39.15
' 51. 47
50.89
45. 32
57.38
38.78
r 56. 95
61.77
' 39. 43
'4J.78
48.05
40.79
37.91
' 51. 86
50.41
39.02
61.07
38.37
r 57. 35
r
62.60
39.00
41.95
47.34
42.59
40.18
52.88
50.88
42.02
62.63
38.79
56.57
61.25
62.41
68.96
60.23
54.31
60.80
64.47
67.54
57.33
62.72
62.72
70.36
60.13
54.12
60.82
64.58
67.64
54.70
58.22
63.97
71.32
60.96
54.15
60.84
64.62
67.77
53.24
55.54
64.62
72.79
61.26
54.38
60.97
64.45
68.50
53.39
56.54
65,06
73.04
61.92
55.24
61.48
67.16
71.14
55.45
61.15
65.48
73.26
62.25
56.64
63.17
67.18
70.96
57.14
63.96
65.08
72.39
62.06
67.21
63.49
69.45
74.01
58.37
66.30
65.96
73. 69
62.32
57.69
63.80
70.71
75.13
60.47
68.29
67.39
76.80
63.02
58.20
65.27
68.72
72.09
59.31
65.27
' 66. 48
75.47
' 59. 19
64.82
' 66. 97
76.04
62.79
r 57. 84
' 64. 65
'71.31
r
76. 35
' 58. 27
62.79
68.03
77.05
64.18
58.06
64.72
70.52
75.03
57.75
61.10
1.285
1.355
1.414
1.287
1.352
1.409
1.289
1.352
1.412
1.292
1.357
1.416
1.301
1.366
1.423
1.316
1.385
1.431
1.332
1.407
1.467
1.349
1.431
1.501
1.362
1.448
1.528
' 1.366
' 1. 452
' 1. 525
1.371
' 1. 454
1.525
* .376
' .457
.528
" 1. 384
' 1. 463
* 1. 532
1.533
1.352
1.415
1.513
1.348
1.417
1.510
1.350
1.421
1.513
1.350
1.431
1.515
1.357
1.441
1.515
1.372
1.461
1.659
1.407
1.473
.642
.439
.498
1.679
1.443
1.510
1.657
1.448
1.518
1.656
1.446
' 1. 520
.656
.446
.524
v 1. 453
' 1. 521
1.389
1.420
1.538
1.392
1.432
1.548
1.395
1.433
1.539
1.408
1.437
1.533
1.418
1.443
1.548
1.432
1.469
1.624
1.444
1.469
1.649
.470
.486
1.664
1.486
1.492
1.676
1.495
1.514
/ 1. 689
1.499
1.513
'1.688
1.499
1.508
1.691
' 1. 718
1.479
1.482
1.472
1.478
1.481
1.489
1.503
1.627
1.656
1.576
1.679
1.588
' 1. 692
1.408
1.461
1.567
1.336
1.050
1.023
1.406
1.452
1. 582
1.338
1.080
1.055
1.414
1.467
1.539
1.344
1.071
1.046
1.421
1.491
1.541
1.343
1.083
1.057
1.428
1.494
1.531
1.355
1.115
1.095
1.436
1.532
1.525
1.369
1.131
1.113
1.449
1.594
1.532
1.404
1.149
1.133
1.475
1. 583
1.564
1.424
1.175
1.162
1.507
1.609
1.604
1.438
1.178
1.162
1.537
1.623
1.616
r
1. 440
r
1. 167
r 1. 148
' 1. 548
' 1. 440
' 1. 162
' 1. 141
1.550
1.616
1.617
1.442
1.140
1.111
1.145
1.174
1.292
1.242
1.149
1.176
1.307
1.252
1.163
1.189
1.322
1.262
1.181
1.211
1.344
1.272
1.184
1.217
' 1. 345
' 1. 271
' 1. 188
1.226
'1.353
1.282
1.187
1.227
1.352
' 1. 286
* 1. 346
v 1. 296
v 1. 190
1.122
1.151
1.253
1.210
1.127
1.155
1.255
1.217
1.126
1.156
1.260
1.220
1.131
1.161
1.271
1.220
1.136
1.167
1.286
1.230
r 61. 96
57.60
64.02
* 71. 48
' 76. 14
' 47. 14
r 48. 41
r 50. 17
r 54. 29
r 50. 19
1,617
r 1. 606
1.115
1.139
1.140
1.138
1.142
1.147
1.145
1.170
1.188
1.187
' 1. 190
1.188
1.077
1.137
1.083
1.147
1.081
1.151
1.076
1.156
1.078
1.157
1.075
1.159
1.070
1.147
1.106
1.182
1.125
1.206
1.127
1.195
1.125
1.200
1.126
1.197
1.195
1.303
1.313
1.311
1.314
1.320
1.327
1.317
1.323
1.315
1 1. 320
1.319
1.094
1.178
1.327
1.095
1.059
1.177
1.131
1.102
1.275
.984
1.235
1.301
1.098
1.176
1.334
1.102
1.065
1.181
1.132
1.118
1.277
.968
1.245
1.310
1.092
1.188
1.310
1.106
1.071
1.187
1.131
1.120
1.301
.968
1.249
1.313
1.040
1.171
1.206
1.118
1.074
1.207
1.148
1.125
1.424
.984
1.269
1.334
1.055
1.169
1.239
1.118
1.074
1.217
1.165
1.090
1.383
1.003
1.292
1.368
1.081
1.160
1.304
.114
.069
.215
.168
.083
.368
.014
.317
.400
1.106
1.180
1.336
1.128
1.087
1.214
1.169
1.105
1.361
1.008
1.320
1.402
1.117
1.178
. 1.352
1.143
1.104
1.216
1.191
1.121
1.361
1.000
1.334
1.419
1.087
1.160
1.302
1.145
1.102
' 1. 098
' 1. 167
1.321
1.149
1.103
> 1. 250
1.202
r
1. 107
1.416
1.016
' 1. 336
' 1. 419
1.100
1.180
1.317
1.146
1.099
1.264
1.210
1.162
1.404
1.018
1.330
1.408
1.040
1.173
1.201
1.116
1.080
1.201
1.138
1.130
1.425
.973
1.250
1.313
' 1. 232
r
r
1.197
1.153
1.367
.998
1. 328
1.409
v 58. 08
0)
v 47. 32
p 53. 18
* 49. 98
» 39. 48
p 42. 32
* 51. 91
* 36. 54
v 55. 35
» 66. 94
v 58. 05
0)
* 58. 16
' 1. 435
0)
* 1. 184
v 1. 123
P 1. 151
* 1. 269
* 1. 015
v 1. 334
begiiming May 1947 are D0t comparable with earlier data
' Comparablefiguresfor April 1947 and April 1947figurescomparable with earlier data are shown on p. S-14 of the June
•Beginning in this'issue, preliminary data for weekly hours and earnings will be shown each month for the major groups, to provide this information one month earlier than heretofore.
SURVEY OF CURRENT BUSINESS
March 1949
Unless otherwise stated, statistics through
1946 and descriptive notes may be found in
the 1947 Supplement to the Survey
S-15
1949
1948
January
February
March
April
May
June
July
August
September
October
November
December
January
EMPLOYMENT CONDITIONS AND WAGES—Continued
WAGES —Continued
Average hourly earnings— Continued
Manufacturin g—C on tinned
Nondurable goods industries— Continued
Printing, publishing, and allied industries
dollars. _
Newspapers and periodicals
do
Printing; book and job
do
Chemicals and allied products
do
Chemicals
do
Products of petroleum and coal
do
Petroleum refining
do
Rubber products
do
Rubber tires and inner tubes__
_ do
Nonmanufacturing industries:
Building construction (private)
do
Mining:
Anthracite
do
Bituminous coal
- do
Metal
__
do
Quarrying and nonmetallic
do
Crude petroleum and natural gas production
dollars
Public utilities:
Electric light and power
do
Street railways and busses
__
do
Telegraph
do
Telephone
do
Services:
Cleaning and dyeing
do
Power laundries
do
Hotels (year-round) _
__do _
Trade:
Retail
do
Wholesale __
do
Miscellaneous wage data:
Construction wage rates (E. N. R.):§
Common labor
dol. per hr__
Skilled labor
_
do _ _ _
Farm wage rates, without board or room (quarterly) *
dol. per hr
Railway wages (average, class I)
dol. per hr
Road-building wages, common labor J
do
1.579
1.797
1.493
1.311
1.477
1.586
1.699
1.444
1.646
1.604
1.812
1.528
1.315
1.479
1.581
1.689
1.421
1.613
1.621
1.843
1.528
1.315
1.483
1.593
1.692
1.408
1.599
1.646
1.870
1.551
1.327
1.484
1.600
1.704
1.412
1.603
1.663
1.877
1.570
1.347
1.493
1.631
1.740
1.424
1.636
1.676
1.896
1.579
1.369
1.509
1.650
1.763
1.439
1.651
1.675
1.894
1.576
1.390
1.539
1.703
1.832
1.472
1.684
1.683
1.908
1.578
1.407
1.552
1 716
1.832
1 500
1.730
1.712
1.954
1.595
1 410
1.596
1 748
1.873
1 504
1.732
'1.709
1 942
»•r 1. 597
1. 390
1.563
T
1 738
1.868
r
1 507
1.734
1.781
1.806
1.805
1.818
1.835
1.858
1.890
1.901
1.919
1.919
r
1. 929
1.949
1.764
1.847
1.371
1.187
1.817
1.826
1.370
1.199
1.776
1.842
1.366
1.190
1 1. 708
i 1. 821
1.373
1.206
1.774
1.841
1.384
1.226
1.749
1.850
1.386
1.228
1.736
1.936
1.427
1.266
1 901
1.967
1.455
1.281
1 897
1.970
1.501
1.284
1.904
1.959
1.502
1.288
r
1 824
1.951
1.518
1. 291
1 862
1.955
1.522
1.290
1.627
1.638
1.605
1.599
1.646
1.636
1.676
1.682
1.711
1.716
1.734
1.730
1.426
1.299
1.257
1.241
1.428
1.295
1.265
1.238
1.408
1.295
1.267
1.223
1.427
1.293
1.349
1.225
1.444
1.302
1.381
1.240
1.455
1.315
1 367
1.232
1.483
1.328
1.379
1.237
1.472
1.327
1 373
1.229
1.490
1.355
1 379
1.250
»• 1.509
•• 1. 380
1.380
'1. 263
1. 510
' 1. 384
1.381
' 1. 305
1.509
1.393
1 385
1.290
.924
.807
.695
.923
.802
.695
.924
.805
.695
.933
.810
.700
.936
.817
.707
.947
823
.711
.942
820
.714
.951
822
.709
.963
828
.725
.970
r
.829
'.726
.958
838
'.734
.963
1.044
1.309
1.050
1.343
1.044
1.334
1.055
1.346
1.064
1.363
1.070
1.353
1 077
1.365
1 080
1.379
1.086
1.378
1.080
1.381
1.084
«• 1. 383
1.072
1.384
1.272
2.14
1.272
2.15
1.283
2.15
1. 287
2.17
1.315
2.18
1.352
2.25
1.386
2.29
1.386
2 30
1.401
2.32
1.413
2.33
1.413
2.34
1.413
2.35
.77
1.297
.91
1.326
1.279
.74
1.279
.95
1.292
1 278
.78
1 281
1 04
1 295
1 313
.71
1.314
1.08
1.341
1 338
235
284
221
309
221
285
239
287
r 1. 712
1 956
r 1. 598
r
1 398
1. 574
1 763
r
1. 894
»• 1 508
1.735
r
r
r
r
r
1.720
1 970
1.605
1 402
1.574
1 740
1.854
1 501
1.721
9 1. 725
f 1 416
(a)
v 1 515
838
.739
1.417
2.35
77
1 00
FINANCE
BANKING
Acceptances and commercial paper outstanding:
Bankers' acceptances
mil. of dol
Commercial paper
do
Agricultural loans outstanding of agencies supervised by the Farm Credit Administration:
Total
mil. of dol
Farm mortgage loans, totaldo
Federal land banks
do
Land Bank Commissioner
_
_ _ do __
Loans to cooperatives
do
Short-term credit
.
do
Bank debits, total (141 centers)
__do.,___
New York City
do
Outside New York City _
do
Federal Reserve banks, condition, end of month:
Assets, total
mil. of dol
Reserve bank credit outstanding, total. _ _ do
Discounts and advances „
,_- do^ „
United States securities
do
Gold certificate reserves
do
Liabilities, total
do
Deposits, total
do
Member-bank reserve balances
do
Excess reserves (estimated) .
do_ _.
Federal Reserve notes in circulation
do
Reserve ratio
percent..
Federal Reserve weekly reporting member banks,
condition, Wednesday nearest end of month:
Deposits:
Demand, adjusted
mil of dol
Demand, except interbank:
Individuals, partnerships, and corporations
mil. of doL.
States and political subdivisions
__ do
United States Government
do
Time, except interbank, total
do
Individuals, partnerships, and corporations
mil. of dol. .
States and political subdivisions.. __ do _.
Interbank (demand and time)
do
Investments, total.
__
do
U. S. Government obligations, direct and
guaranteed, total _
mil. of dol
Bills
do. .
Certificates
do
Bonds (incl. guaranteed obligations)... do
Notes
do
Other securities
do
r
Revised,
1
262
290
253
301
241
311
242
275
256
254
253
270
1,602
962
862
100
278
361
£3, 970
37, 615
56, 355
1,619
1,640
1,662
1,678
955
860
95
249
436
954
861
93
237
473
954
864
90
223
501
1,710
958
860
98
270
391
80, 776
32, 271
48, 506
96, 487
39, 587
56, 900
91, 640
37, 955
53, 685
47, 327
22, 782
327
21, 925
21, 701
47, 327
46 991
22, 109
431
21, 024
21, 776
46, 991
46, 589
21, 607
430
20, 887
21, 878
46, 589
19, 610
16, 639
45 499
20, 858
249
20, 340
21, 910
45, 499
19. 007
16, 944
655
737
(2)
(2)
2
214
305
1 739
(2)
943
861
82
278
517
(')
(3)
(')
952
864
88
234
524
(22)
()
(2)
251
537
87,' 236
35, 4^9
51, 807
97, 300
40 633
56, 667
91, 804
35, 832
55, 972
87, 149
33 031
54, 118
93, 511
37 531
46 270
21, 576
31 16
20, 662
22, 036
46 270
47 067
21, 900
266
21, 366
22, 258
47, 067
20, 176
17, 389
47 072
47 246
22, 107
323
21 577
22. 465
47 246
20 462
17, 679
(2
2
( )
262
539
55,980
16,919
768
19,807
17,062
762
848
678
877
24, 156
48.8
837
24, 045
49.7
23, 768
50.4
23, 648
51.4
23, 675
50.7
23, 675
50.7
23, 771
50.6
23, 935
50.6
49 632
24, 071
325
°3 413
22 603
49 632
22 494
19, 986
1 038
24, 024
49.6
48, 833
47, 296
45 340
46 671
46 646
46 414
46 839
47 056
48, 701
45, 445
46. 418
46, 627
1,297
14, 772
1,309
14, 790
1 252
14, 877
46, 671
3,517
1,265
15, 016
46, 666
14, 593
47, 134
3,219
1,009
14, 801
1 259
14, 950
14, 127
391
10, 681
41, 559
14, 256
471
10, 422
40, 055
14, 221
478
14/283
38, 768
14, 222
492
9,701
39, 780
39,415
14, 417
520
10, 203
38, 906
37, 323
35, 845
2,209
2,048
3,972
34, 433
1,272
35, 475
2,219
35, 218
1,986
3,745
3,839
4,880
27, 266
27, 111
2,559
26, 997
2,305
4,210
4, 335
2,420
4,305
26, 017
2 335
4,197
20, 311
3,264
693
3,410
28, 965
2,739
4,236
3,363
9,750
3,484
19,761
17, 021
3,478
517
9,914
22,035
318
21 325
22, 407
47 072
20 518
17, 696
(2)
2
(2)
(2)
301
480
95, 582
38, 169
57, 413
49 514
23,875
339
23, 042
22, 726
49 514
22 420
19, 736
314
449
91,569
34 754
56, 815
49 803
23, 881
337
23 209
22 889
49 803
22 427
19, 894
259
269
1 677
932
857
75
311
435
262
268
M
14
m
(2)
299
444
109 908
46 194
63 714
94, 101
38 429
55, 672
50 043
223
23 333
22 966
50 043
22' 791
20 479
r
1 499
48 585
22, 914
456
22 109
23 025
48 585
22 248
19, 540
v 413
24^097
742
809
24, 062
48.9
24, 172
49.1
24,161
23,609
48.9
50.2
46 660
46 607
47 341
47 794
46 945
46, 919
3 370
1 217
14, 795
46, 940
3 241
1 704
14 942
47, 474
3 299
1 513
14 944
47,840
3 292
1 264
14 796
48, 214
3 282
1 274
15 028
46, 576
3 408
1 476
15 087
14, 337
532
10, 072
39, 224
14, 271
539
10, 231
39, 136
14, 317
541
10, 041
37 006
14,323
14, 238
505
10, 472
37 238
14, 403
540
' 10,602
14, 419
582
10, 174
37 452
34, 666
1,704
34, 870
2 412
4 420
25, 934
2 474
32 559
1 142
3 745
25, 230
2 442
33 268
4,669
25,881
34, 714
2,148
4 164
25, 802
2 600
4.240
4.354
4.422
4.447
4.234
3,400
2,042
536
10, 701
37, 502
2,378
4 423
24, 794
1 673
33 075
2' 106
4 458
24, 823
1 688
4! 163
37 192
32 987
1 807
4 742
24,594
1 844
4.205
33 268
1 987
5 354
24. 890
1 037
4.184
t Preliminary. ° Not available.
Data reflect work stoppages. 2 Beginning July 1, 1948, farm mortgage loan data are reported quarterly,
t Reported quarterly after July 1947 for the week ended nearest the 15th of the indicated month.
§ Rate as of March 1, 1949: Common labor, $1.417; skilled labor, $2.35.
* New series. The "farm wage rate per month without board" series has been discontinued. Data for the present series are based on improvements in the interview surveys, to bring the
wage-rate series into better agreement with current practices; comparable data prior to January 1948 are not available.
SURVEY OF CURRENT BUSINESS
S-16
Unless otherwise stated, statistics through
'1946 and descriptive notes may be found in
the 1947 Supplement to the Survey
March 1949
1949
1948
January
February
March
April
May
June
July
August
September
October
November
December
January
FINANCE—Continued
BANKING-Continued
Fed. Res. weekly reporting member banks, condition, Wednesday nearest end of month — Con.
Loans, total§
.
mil. of dol__
Commercial, industrial, and agricultural^ do
To brokers and dealers in securities
do
Other loans for purchasing or carrying securities §
mil. of dol. _
Real estate loans§
__ _
do
Loans to banks
do
Other loans §
do __
Money and interest rates :1
Bank rates to customers:
New York City
percent
7 other northern and eastern cities
do
11 southern and western cities
do
Discount rate (N. Y. F. R. Bank)
do
Federal land bank loans
do
Federal intermediate credit bank loans
do
Open market rates, New York City:
Acceptances, prime, bankers', 90 days
do
Commercial paper, prime, 4-6 months
do_ __
Time loans, 90 days (N. Y. S. E.)
do
Call loans, renewal (N. Y. S E.)
do
Average yield on U. S. Govt. securities:
3-month bills
do
3-5 year taxable issues
do
Savings deposits, balance to credit of depositors:
New York State sayings banks
mil. of dol. _
U. S Postal Savings
do
23, 394
14, 727
674
23, 439
14, 540
831
23, 453
14, 417
905
23, 160
14, 159
809
23, 521
14, 113
1,058
23, 740
14, 345
1,152
23, 859
14, 490
954
24, 095
14, 887
743
24, 899
15, 239
1,043
24, 730
15, 418
662
25, 092
15, 527
974
25, 559
15, 561
1,323
25, 244
15,318
1,297
811
3,516
180
3,486
764
3,569
233
3,502
761
3,615
215
3,540
749
3,669
190
3,584
772
3,755
219
3,604
780
3,825
151
3,729
778
3,858
268
3,752
737
3,920
239
3,813
717
3,961
315
3,870
695
4,021
295
3,887
673
4,044
218
3,908
679
4,062
241
3,946
663
4,079
258
3, 918
1.25
4.00
1.58
1.25
4.00
1.63
2 09
2.52
2 83
1.25
4.00
1.69
1.25
4.00
1.83
1.25
4.00
1.88
2.10
2.71
3.03
1.25
4.00
1.88
1.25
4.00
1.96
1.50
4.04
1.96
2 26
2.76
3 13
1.50
4.04
1.96
1.50
4.04
1.98
1.50
4.04
1.98
2.27
2.82
3.09
1.50
4.04
1.98
1.50
4.08
1.98
1.06
1.31
1.50
1.50
1.06
1.38
1.50
1.50
1.06
1.38
1.50
1.50
1.06
1.38
1.50
1.50
1.06
1.38
1.50
1.50
1.06
1.38
1.50
1.50
1.06
1.38
1.50
1.50
1.13
1.44
1.50
1.63
1.19
1.56
1.50
1.63
1.19
1.56
1.50
1.63
1.19
1.56
1.50
1.63
1.19
1.56
1.50
1.63
1.19
1.56
1.50
1.63
.977
1.63
.996
1.63
.996
1.60
.997
1.58
.997
1.51
.998
1.49
.997
1.56
1.053
1.65
1.090
1.69
1.120
1.71
1.144
1.69
1.154
1.64
1.160
1.59
9,855
3,432
9,904
3,441
9,959
3,435
9,986
3,415
10, 017
3,395
10, 111
3,379
10, 099
3,368
10, 112
3,356
10, 141
3,348
10, 149
3,342
10, 194
3,336
10, 326
' 3, 330
10, 402
v 3, 330
13, 127
6,221
2,817
1,202
13, 053
6,299
2,841
1,254
13, 539
6,555
2,992
1,367
13, 762
6,797
3,143
1,468
13, 986
6,993
3,265
1,536
14, 321
7,185
3,372
1,602
14, 354
7,369
3,480
1,689
14, 522
7,578
3,625
1,781
14, 815
7,774
3,774
1-858
' 15, 102
7,817
3,813
1,889
15, 335
7, 918
' 3. 886
1,922
v 15, 924
v 8, 196
v 4, 095
v 1, 961
p 15, 376
p& 051
P 3, 967
p 1, 975
632
502
52
175
254
3,404
1,462
227
165
137
624
492
52
169
250
3,458
1,482
230
167
140
653
497
54
165
256
3,563
1,530
241
173
143
680
511
60
160
264
3,654
1,570
252
180
146
703
' 528
65
161
272
3,728
1,597
260
189
147
720
541
68
162
279
3,813
1,634
272
194
150
732
545
72
160
282
3,889
1,669
282
199
152
759
560
76
158
291
3,953
1,701
291
203
154
786
586
81
161
302
4,000
1,712
300
206
155
797
583
81
160
303
4 004
1,700
302
204
155
812
588
81
r
174
r
309
4 032
1,701
304
204
156
*874
»631
P84
p209
*336
P 4, 101
p 1, 709
^312
i>204
^160
»813
*593
*79
p 193
*>314
P 4 084
P 1, 705
P312
*>202
P 159
588
705
120
3,240
2,742
924
610
709
120
3,061
2,765
928
633
722
121
3,275
2,783
926
657
727
122
3,259
2,795
934
676
736
123
3,263
2, 816
932
693
746
124
3,364
2,839
945
705
757
125
3,185
2,840
960
716
763
125
3,130
2,847
967
730
771
126
3,227
2,855
959
745
772
126
3,457
2 868
959
760
780
127
3,557
r
2 892
968
*768
p817
p 131
p 3, 854
p 2, 902
*>972
*764
?812
p 130
P 3, 450
P2 907
?968
248
38
27
26
109
221
38
25
25
107
287
48
32
29
139
269
50
31
27
121
258
47
31
25
123
275
54
37
27
127
277
52
33
26
130
270
52
32
27
126
254
51
31
26
122
222
44
29
24
116
237
46
31
26
134
p251
P 57
P37
*31
*180
*>235
p 42
J»31
P 26
P 112
CONSUMER SHORT-TERM CREDIT
Total consumer short-term credit, end of monthf
mil. of dol._
Installment credit, totalf
do
Sale credit, total
- -_ do
Automobile dealers
do
Department stores and mail-order houses
mil. of dol__
Furniture stores
do
Household appliance stores __
do
Jewelry stores
do _ _
All other
_ _ do __
Cash loans total f
do
Commercial banks
do_ _
Credit unions f
do
Industrial banks
do __
Industrial loan companies
do
Insured repair and modernization loans f
mil. of dol_.
Small loan companiest
do
Miscellaneous lenderst
do
Charge accounts
do
Single payment loans f —
do
Service credit
do
Consumer installment loans made during the month
by principal lending institutions:
Commercial banks
mil. ofdol__
Credit unionsf
do
Industrial banks
_
do
Industrial loan companies
do
Small loan companies f
do
r
.
r
r
FEDERAL GOVERNMENT FINANCE
Budget receipts and expenditures:
r
r
r
r
r
r
r
r
r
r
r
r 2 941
Receipts, total*
mil. of dol
2, 863
4, 614
6, 365
3, 082
2, 300
4, 304
5, 104
2 948
4 597
4 062
2 199
3 675
r
r
r
r
r
r 4 542
r 4 014
2, 239
Receipts, net •
do
5, 874
2. 324
'4 196 r 4, 158
r 2 540
4 859 r 2 096
r 2 101
2 505
3 579
35
34
31
Customs.
_ do
37
41
31
33
34
' 33
38
35
' 36
30
Income taxes.
do
3,159
5,165
1,858
1,785
3,237
1,254
3,701
1,568
3 632
3 042
1 180
1 583
2 762
51
423
176
83
401
Social security taxes
do
142
67
410
'384
134
130
65
54
662
629
739
673
656
Miscellaneous internal revenue .
do
694
742
677
676
702
768
768
638
369
243
All other receipts •
do
329
243
193
465
550
195
124
145
149
174
192
r
r
r
r
r
r
r
r
r
r 2, 224
2, 541
3, 086
2, 222
2, 800
3, 558
7,018
Expenditures, totalcT •
- do
2, 142
2, 869
2 684
2 815 r 3 603
2 968
142
154
401
608
124
Interest on public debt_
do
1,508
286
114
212
322
1 112
570
319
582
524
529
788
Veterans Administration
do
597
530
562
539
555
487
490
618
528
903
1,063
846
845
National defense and related activities. do
930
1,155
929
800
715
931
957
1,017
1,043
r
r
r
r
r
r
r
r
r
••812
902
All other expenditures cf •
do
707
1, 036
638
4, 019
1, 329
690
1 097 r 1 052 r 1 118
920
1 078
Debt, gross:
254, 605
252, 240
256, 574
252, 990
252, 236
252; 292 253, 374
Public debt (direct), end of month, total._.do
253, 049 252, 687
252, 460
252, 506
252, 800
252, 620
252, 100
250, 634
249, 920
Interest-bearing, total
do
253, 958
249, 958
250, 063 251, 168
250 875 250 518
250 300
250 391
250 579
250 435
222, 854
221, 362
224, 810
220, 718
Public issues. __
__
do
220, 636
219, 852 220, 381
219 987
219 297
219 077
218 992
218 865
218 675
29, 148
29, 246
29, 272
29, 201
29, 323
Special issues to trust accounts, etc
do
30, 211
30, 787
30, 887
31,221
31, 223
31, 714
31, 400
31, 760
Noninterest bearing _
do
2,505
2, 616
2,356
2,320
2,278
2,229
2 175
2,206
2 115
2 170
2 161
2 220
2 186
Obligations guaranteed by U. S. Government,
77
end of monthj
rail, of dol__
79
78
75
75
55
73
51
52
50
57
55
36
U. S. savings bonds:
52, 875
52, 575
53, 061
53, 133
Amount outstanding, end of month
do
53, 207
53, 333
54, 662
54, 756
54, 826
54, 908
54, 989
55, 197
55, 467
607
770
Sales, series E, F, and G
do
588
468
432
497
1,673
474
412
415
419
540
647
364
454
462
452
Redemptions.!
__
do
465
428
438
442
407
393
406
432
47fi
r
Revised. » Preliminary, f For bond yields see p. S-20.
c? June 1948 figures include $3,000,000,000 transferred to the "Foreign Economic Cooperation Trust Fund" and considered expended during the fiscal year 1948, as required by the Economic Cooperation Act of 1948; the effect of this transfer is to charge the budget in the fiscal year 1948 for expenditures to be made in the fiscal year 1949 Figures beginning July 1 1948 therefore exclude expenditures from this fund, totaling $1,881,101,000 for July 1948-January 1949.
'
§ Beginning June 30, 1948, individual loan items are reported gross, i. e., before deduction of valuation reserves, instead of net as previously; data reported on a gross basis for January 28
1948, for items against which reserves are held, are as follows (millions of dollars): Commercial, industrial, and agricultural loans, 14,808; "other loans for purchasing or carrying securities/'
8 12; real estate loans, 3,529; "other loans," 3,541. Data for February to May 1948 will not be available until figures are reported for the corresponding month of 1949. Total loans are shown
on a net basis for all months.
fRevised series. Credit unions have been revised to exclude real estate mortgage loans beginning 1929, and further revised on basis of year-end figures from Federal Deposit Insurance
Corp. for Federal credit unions and BLS statistics for state-chartered credit unions. Beginning 1934 insured repair and modernization loans have been revised. Beginning 1946 single payment
loans and loans by small loan companies and miscellaneous lenders have been revised. The related totals have been correspondingly revised. Revisions are available upon request.
t Data revised to include matured debt on which interest has ceased, to conform with figures shown in the 1947 Statistical Supplement to the Survey. For comparable figu
fiures for January-August 1947 see note t in the No\ember 1948 Survey.
• Beginning July 1948 figures exclude interagency transactions involving payments to the Treasury, principally by wholly owned corporations, for retirement of stock and disposition
of earnings. Effective January 1949, amounts refunded by the Government, principally for the overpayment of taxes, are reported as deductions from total receipts rather than as expenditures
Earlier figures are similarly adjusted for comparative purposes.
SURVEY OF CURRENT BUSINESS
March 1949
Unless otherwise stated, statistics through
1946 and descriptive notes may be found in
the 1947 Supplement to the Survey
S-17
1949
1948
January
February
March
April
May
August
July
June
September
October
November
December
January
FINANCE—Continued
FEDERAL GOVERNMENT FINANCE— Con.
Government corporations and credit agencies:
Assets, except interagency, total
mil. of dol.
Loans receivable, total (less reserves)
do
To aid agriculture
do
To aid home owners
do
To aid railroads
_ _
do
To aid other industries
do
To aid banks
_ _ _ _
_
do
To aid other financial institutions
do
Foreign loans
_ _
do
All other
do
Commodities, supplies, and materials
do
U. S . Government securities
_ _ _ _ _ do
Other securities
do
Land, structures, and equipment _ - do
All other assets
do
Liabilities, except interagency, total
do
Bonds, notes, and debentures:
Guaranteed by the United States _ do
Other
_do_-_
Other liabilities
- _
do
Privately owned interestsdo_ _
II S Government interests
do
Eeconstruction Finance Corporation, loans and investments outstanding, end of month, total f
mil. of dol_.
Industrial and commercial enterprises, including
national defense
- mil. ofdolFinancial institutions
do_ ._
Eailroads, including securities from PWA.-do
States, territories and political subdivisions. _ do
United Kingdom and Kepublic of the Philippines
mil. of dol_Mortgages purchased
do
Other loans
do
31, 107
10, 134
2 399
20,687
10, 573
2 660
697
146
275
5
491
6,079
592
328
1,811
3,525
2,423
2, 025
2,303
20, 120
10 373
2 386
623
147
259
5
379
6,093
613
570
633
147
260
5
481
6 214
'en
251
1,845
3,526
12, 535
2 496
2,724
1 684
3 531
2 458
1 824
2 091
76
781
52
68
1,011
1,239
^ 836
1 187
1,868
150
159
154
28 233
18, 225
17 875
1,106
1, 106
1,102
1,096
1,111
1,122
1,154
1,169
1,189
1,213
1,249
1, 282
1,323
320
321
316
302
304
303
291
294
301
305
310
321
330
144
122
144
122
145
124
145
128
145
128
144
135
145
134
145
134
143
134
141
134
141
134
138
134
234
138
3
230
144
3
226
153
3
225
167
3
215
186
2
214
198
36
213
214
36
209
233
36
207
259
36
204
292
36
194
331
' 37
192
397
3
53 457
48, 579
53 774
48, 871
54, 041
49, 040
54 358
49, 165
54,628
49, 541
54 892
49, 778
55, 383
50, 265
55 746
50, 465
47
35
18
17
7
2
6
869
640
787
054
390
784
679
48 086
35, 727
18, 530
16 760
7 536
2 810
6 851
48 307
35 704
18, 321
16 350
7,637
2 815
6 931
48
35
18
16
7
2
7
49 030
35 899
17 453
15 444
8 070
2 835
7 541
49 483
36, 125
17, 235
15, 204
8,289
2 863
7,737
7 977
8 121
8 276
48, 806
35,854
17, 671
15, 672
7,946
2,821
7,415
705
8,555
823
7,732
1,769
903
1,021
T
r i 303
145
235
136
3
143
140
139
139
137
137
135
133
133
129
132
127
138
137
LIFE INSURANCE
Assets, admitted:*
All companies (Institute of Life Insurance), esti52, 584
52, 866
mated total
_
mil. of dol
52, 003
52, 238
53, 122
Securities and mortgages
do
46, 955
47,771
48, 084
47, 315
48,320
49 companies (Life Insurance Association of
47, 058
47, 304
46, 550
America), total
mil ofdol
46, 754
47, 522
34, 911
35, 359
35, 093
35, 497
Bonds and stocks, book value, total
do
35, 565
19, 395
19, 755
19, 162
Govt. (domestic and foreign) total
do
19, 518
19, 000
18, 017
17, 658
17, 421
U. S. Government
do
17, 796
17, 259
6,717
6,988
7,148
6,839
Public utility
do
7,270
2,741
2,744
2,776
Railroad
do
2 750
2 777
6,232
6,411
Other
_ _ _ _
do
5,697
5,986
6,518
Cash
do
963
684
594
817
590
7,422
7,296
7,560
7,697
Mortgage loans, total ._
do
7,828
Farm
do
730
741
750
764
777
Other
_
do
6,566
6,810
6,933
6,680
7,051
1,688
1,694
1,705
1,715
Policy loans and premium notes
do
1,725
Real estate holdings
do
770
771
785
822
825
Other admitted assets
do
922
964
979
956
989
Life Insurance Agency Management Association:
Insurance written (new paid-for-insurance):
r
r
1,r 849
1r 680 r 1r 888 r 1r 894 r i 730
Value, total §
mil of dol
r
204
236
211
Group §
...
do
188
166
r
r
'330
••361
'409
Industrial §
_
do
396
418
1,243
Ordinary, total
_
do
1,331
1,115
1,287
1,196
New England
_ _ _
do
72
81
90
85
81
344
272
Middle Atlantic
do
326
301
289
East North Central _ _
_
do
304
252
272
278
255
126
West North Central
_ do_._
108
118
120
112
South Atlantic _ .
do
138
121
141
148
140
East South Central
do_ _
51
41
51
50
48
West South Central
do
100
88
99
99
98
Mountain __ _
do
43
41
38
41
40
Pacific
do
135
124
140
140
134
Institute of Life Insurance:
Payments to policyholders and beneficiaries,
total
thous. of dol__ 278, 138
250, 600
307, 077
273, 084
244, 544
Death claim payments
_
do
121, 007
142, 339
113, 860
123, 590
109, 455
Matured endowments. _
do
38, 987
35, 496
36, 706
40, 157
32 986
Disability payments
do
8,723
8,356
7,111
7,963
7,472
24, 275
Annuity payments _ _ _ _ _ _ _ _
do
18, 014
19, 438
19, 881
18, 164
Dividends
do
52, 452
44, 694
55, 083
44 446
40 377
32, 694
41, 704
31, 425
Surrender values cf
_
do
40, 498
36, 090
Life Insurance Association of America:
Premium collections, totalt
__thous. of dol__ 405, 921
410, 719
481, 627
378, 769
382, 810
62, 296
Annuities
_ _ _ do. _
51, 207
87,360
48, 791
41, 296
33, 018
Group
_
do
36, 062
34, 665
31, 082
29, 056
68, 570
Industrial
_
__ do
68, 528
58, 264
76, 236
69, 319
242, 037
Ordinary
do
254, 922
283, 366
240, 632
243,139
r
Revised.
cf Surrender values include premium notes and liens voided by lapse.
695
790
656
802
690
811
566
664
071
087
767
817
008
822
8 404
816
7 319
1,742
7 465
1,752
847
976
863
977
1,008
1 020
r i 350
r i 903
r
'380
r
339
1 184
r i 740
r
259
r
356
1 125
r 1 625
r 195
r
7 186
1 735
r 236
r
370
1 244
83
305
265
119
143
51
102
42
135
78
287
256
113
134
47
96
41
131
878
7 588
1 762
895
71
259
252
111
131
46
97
36
122
352
1 078
67
244
237
108
125
47
90
37
121
1r 720
192
r
378
1, 150
75
273
249
110
132
52
89
38
131
731
718
8 702
8 893
7 873
1 779
8 057
1,788
1 021
1 013
837
829
932
910
r 262
r 370
1 176
r
2 303
r 664
r
321
1 318
78
282
259
109
132
50
93
39
133
85
29S
289
133
147
54
107
47
158
284, 967
124 695
37 117
8,114
19 512
52 497
43 032
253, 440
116 083
32 185
7,711
20 337
40 555
36 569
247, 279
112 462
30 378
7,581
13 149
39 898
43 811
258, 304
122 692
31 182
7,122
17 581
41 976
37 751
248,330
110 837
35 290
7,632
18 926
38 300
37 345
257,971
118 358
37 644
8,212
18 937
36 687
38 133
333, 180
131 229
42 975
8,812
18 6^1
80 727
50 796
432, 885
52 493
31 360
72 129
276,903
406, 274
74 411
34 049
61, 357
236, 457
374 355
42 812
28 400
69 298
233, 845
412 695
52 017
33 487
71 300
255! 891
367 335
42 453
28 251
62 415
234, 216
406 756
58 814
29 905
68 239
249] 798
585 010
114 939
44 759
98 231
327! 081
1 821
335
357
1 129
' 86
292
254
103
118
42
87
33
113
296, 940
123 024
46 076
8,580
24 207
54 399
40 654
*New series. The new data measuring assets of all life insurance companies are estimated totals for all legal reserve companies based on reports from about 130 companies accounting for
92 to 95 percent of the total. Annual data back to 1916 and monthly data back to January 1945 are available upon request. The data for 49 companies, based on actual reports, replace the
data formerly shown for 36 companies; the 49 companies accounted for about 90 percent of the total assets of all legal reserve companies at the end of 1946; monthly data back to January 1947
are available upon request. Assets for the accident and health business of life insurance companies are included in the total assets of all companies and of the 49 companies but are only partially
included in the security and mortgage data; accident and health assets amounted to less than 1 percent of total assets of life insurance companies in 1947.
tRevised series. Beginning in the September 1948 Survey, data for RFC are shown on a revised basis as follows: Investment in capital stock of the RFC Mortgage Company and the
Federal National Mortgage Association has been eliminated and, in lieu thereof, loans and purchases of the subsidiary corporations are included; loans made by the Smaller War Plants
Corporation prior to its transfer to RFC for liquidation, formerly included in figures for business enterprises beginning March 1946, and loans to U. S. Commercial Company, an RFC subsidiary, and to the Defense Homes Corporation, formerly included under "national defense," have been omitted; loans to railroads and to States, etc., and loans to the United Kingdom
and the Philippines were formerly included in figures for "other loans"; "mortgages purchased" includes mortgages partially guaranteed by the Veterans' Administration and mortgages insured by FHA; RFC equity in mortgage loans of the Defense Homes Corporation, which was transferred to RFC in July 1948 for liquidation, is included in "other loans" beginning July
1948. Data on the revised basis are available only beginning May 1947.
§Data for 1947 and 1948 have been revised in accordance with year-end adjustments; 1947 figures are available upon request.
SUKVEY OF CUKEENT BUSINESS
S-18
Unless otherwise stated, statistics through
1946 and descriptive notes may be found in
the 1947 Supplement to the Survey
•
March 1949
1949
1948
January
February
March
April
May
June
July
August
September
October
November
December
January
FINANCE—Continued
MONETARY STATISTICS
Foreign exchange rates:
Argentina
dol. per paper peso__
Belgium
_
__
dol. per franc. .
Brazil
dol. per cruzeiro.Canada, free rate§ -.
dol. per Canadian dol
Colombia.
dol. per pesoFrance
_
_
dol. per franc _
India
dol. per rupee-Mexico
dol. per peso__
Netherlands
_dol. per guilder-Sweden
dol. per krona
United Kingdom, free rate.-__.dol. per £..
Gold and silver:
Gold:
Monetary stock, U. S
__
mil. of dol _
Net release from earmark •
thous. of dol. _
Gold exports
do
Gold imports
do
Production, reported monthly, total t- do
Africaf
do
Canada
do
United States
_
do
Silver:
Exports
do
Imports
do
Price at New York
dol. per fine oz _
Production:1
Canadad"
thous. of fine oz_.
Mexico
_
, do
United States
_
do
Money supply:
Currency in circulation
mil. of dol__
Deposits adjusted, all banks, and currency outside banks, total
mil. of doL.
Currency outside banks _
_
do
Deposits, adjusted, total, including U. S. deposits
mil. of dol_.
Demand deposits, adjusted, excl. U. S._do
Time deposits, incl. postal savings
do
Turn-over of demand deposits, except interbank and
U. S. Government, annual rate:
New York City
ratio of debits to deposits. .
Other leading cities
.
. do
0. 2977
0. 2977
.0228
.0228
.0544
.0544
.9046
.8906
.5699
.5701
3. 0084
*. 0047
.3017
.3017
.2058 - . 2058
.3765
.3771
.2783
.2783
4. 0311
4. 0307
22, 935
-14,859
6,590
241, 568
60, 377
39, 079
9,568
6,214
23, 036
-72, 165
2,560
161, 948
57, 211
36, 561
9,156
5,489
0. 2977
.0228
.0544
.8928
0.2977
.0228
.0544
.9063
0.2977
.0228
.0544
.9227
10.2977
.0228
.0544
.9323
*. 0047
4. 0047
*. 0047
4. 0047
.2058
.3776
.2783
.2057
.3775
.2783
.2057
.3772
.2782
.5701
.5701
.5701
10.2977
.0228
.0544
.9283
2
4( )
. 0047
8 . 3017
e . 2057
.3765
.2782
4.0314
0. 2977
.0228
.0544
.9270
(2)
4. 0047
8. 3017
(6)
.3762
.2782
4. 0315
0. 2977
.0228
.0544
.9218
(2)
4. 0047
8. 3017
(«)
.3760
.2782
4. 0315
0. 2977
.0229
.0544
.9290
2
4( )
. 0047
8. 3017
6. 1444
.3760
.2782
4. 0314
0. 2977
.0229
.0544
.9238
(2)
4.0047
8 . 3017
.1449
.3757
.2782
4.0315
23, 532
23, 679
81, 671 —188, 411
44, 782
2,486
222, 523
269, 178
' 60, 173
64, 486
38, 308
39, 013
10, 152
10, 367
5,719
6,180
23, 725
59,475
47, 353
86, 431
23,872
98, 137
25, 993
79, 283
24, 004
970
8,337
129, 908
24, 166
99, 659
21,097
75, 321
38, 173
10, 689
7,661
37, 817
10, 320
7,388
37, 855
10, 742
6,540
10, 897
5,306
278
4,352
.746
13
4,781
.738
52
5,758
.753
61
6,910
.772
123
4,973
.736
1,782
3,700
2,721
1,518
3,900
2,327
1,230
3,800
3,466
1,381
4 500
2 957
*. 5701
8. 3017
8. 3017
4. 0315
4. 0312
4. 0313
23, 169
23, 137
-63, 376 —111, 546
27, 385
28, 178
262, 334
127, 328
60, 861 r 59, 564
38, 545
38, 452
10, 070
10, 013
23, 304
-2, 841
61, 887
213, 214
r
61, 214
38, 672
10, 047
.3017
8. 3017
4. 0313
.2058
.3775
.2783
6,372
5,650
5,763
5,560
6,078
r
0. 2977
.0228
.0544
. 9225
2
4( )
. 0047
5
. 3017
. 1453
.3762
.2782
4. 0315
0. 2977
.0228
.0544
.9244
(2)
4.5 0047
. 3017
.1453
.3766
.2782
4. 0313
' 24, 244 9 24 271
-45,945 -2,690
24, 123
6 399
132, 420
52, 333
11, 443
5,047
1,636
7,222
.746
220
229
6,196
.746
5,331
.746
958
3,700
3,938
3,800
2,070
3,900
3,383
3,600
3,216
3,400
3,253
4,500
3,085
28, 111
28, 019
27, 781
27, 716
27, 812
27, 903
170, 200
25,800
168, 900
25, 700
166, 400
25, 600
167, 500
25, 400
167, 600
25, 400
28,055
28, 176
27, 866
28, 224 9 27, 580
167,875 J> 168, 600 v 169, 100 v 169,700 * 170, 300 v 170, 100 9 170, 900 9 169, 970
25, 638 t> 25 500 v 25, 600 J>25 700 v 25 600 v 25, 900 •P 25 700 9 25 160
144, 400
86, 600
56, 500
143, 200
84, 600
56, 800
140, 800
81, 500
56,900
142, 100
82, 700
56, 900
142, 200
82, 800
57, 000
142, 237 v 143, 100 v 143, 500 9 144,000 " 144, 600 * 144, 200 f 145, 200
82, 697 v 83, 400 9 83, 800 9 83, 900 * 85, 000 v 85, 000 9 85, 800
57, 360 * 57, 300 9 57, 300 v 57, 300 ' 57, 300 9 57, 000
9 57, 300
26.2
18.7
25.6
18.6
26.4
19.1
26.5
18.6
27.9
18.7
1,036
1,099
.746
1,090
2,564
9,146
.746
1,073
42
5,747
.746
1,194
28.0
19.1
28, 118
26.6
19 1
23.9
18 5
27.5
19 4
1 418
4? 908
. 700
581
2 116
700
3,414
28, 331
27.9
19 3
27.8
20.8
32.1
21 0
9 144, 810
9 85, 290
9 57, 560
29.3
19 3
PROFITS AND DIVIDENDS (QUARTERLY)
Industrial corporations (Federal Reserve) :
Net profits, total (629 cos.)
mil. of dol._
Iron and steel (47 cos.) .
do
Machinery (69 cos.)
do_ __
Automobiles (15 cos.)
_do
Other transportation equip. (68 cos.)__ do
Nonferrous metals and prod. (77 cos.)
do
Other durable goods (75 cos.)
_.
do
Foods, beverages and tobacco (49 cos.)__ do
Oil producing and refining (45 cos.) .
do
Industrial chemicals (30 cos.)
do
Other nondurable goods (80 cos.)
do
Miscellaneous services (74 cos.)
do
Profits and dividends (152 cos.):
Net profits
. do
Dividends:
Preferred
_
do
Common
do
Electric utilities, net income (Fed. Res.)
do_ _.
Railways and telephone cos. (see p. S-23).
1,029
1,101
110
92
151
769
53
71
86
194
98
100
77
9 1, 178
v 150
?93
v 163
v 7 68
9 59
9 78
*91
9 186
v 103
v 107
* 80
529
559
t> 610
22
207
186
22
218
156
j> 223
» 143
114
89
129
764
46
64
77
192
91
101
57
t> 22
SECURITIES ISSUED
Commercial and Financial Chronicle:
Securities issued, by type of security, total (new
652
1,409
857
936
capital and refunding).
mil. of dol__
'549
965
714
856
666
983
666
831
690
r
802
769
1,257
591
502
New capital total
do
899
630
681
576
902
593
753
633
1,221
'502
801
591
768
888
Domestic, total
_.
do
629
583
531
574
651
753
618
r
562
374
372
546
560
584
Corporate
do
444
259
456
433
378
627
419
7
39
35
o
o
o
16
50
31
o
21
Federal agencies
_do
35
67
182
114
217
630
156
283
Municipal, State, etc
do
118
237
118
273
150
192
126
11
1
1
2
0
2
o
o
37
Foreign
do
150
251
10
15
152
166
61
46
56
Refunding total
do
66
85
175
89
73
81
78
57
152
56
166
46
61
66
Domestic, total
do
85
175
89
73
81
78
57
3
1
2
4
3
14
97
50
29
Corporate
-do
15
26
19
16
114
54
42
39
49
34
Federal agencies
do
68
123
62
56
56
72
55
1
1
8
2
3
Municipal, State, etc
do
3
2
50
1
2
1
6
o
0
o
o
o
Foreign _
do
0
0
o
o
0
o3
o
(8)
Securities and Exchange Commission:
r l §94
2,029
1,376
1,552
1,407
1,170
1,620
2,507
1 723
1 427
Estimated gross proceeds, total $
-do
1,207
1 809
1 378
By type of security:^
r
1,324
1,332
1,983
1,074
Bonds and notes, total..
do
1,297
1,459
2,463
1,134
1,651
1,723
1,375
1.813
1,308
r gQ3
642
294
393
526
310
493
Corporate
do
171
530
401
457
619
245
r gg
21
26
28
170
58
Common stock
^ -do
50
30
34
61
35
31
63
24
25
51
69
111
Preferred stock
_
_
do
49
14
11
8
40
52
21
13
' Revised. 9 Preliminary1 June average is based on quotations through June 22, July average on quotations beginning July 15; beginning the latter month, rates are those for "regular" products; earlier data are
shown
as official rate.
2
Quotations not available after June 10. 3 Based on quotations through January 23 when franc was devaluated.
4 Official rate. The February figure is based on quotations beginning February 10; the free rate for this period through August is $0.0033, through December 1948, $0.0032, and January
1949, $0.0031, October figure is based on quotations through October 15.
88 Excludes Pakistan. « Quotations not available July 22-October 12. * Partly estimated.
Less than $500,000. § Official rate since July 4, 1946, is $1.000. • Or increase in earmarked gold (—). JRevisions for January-August 1947 are available upon request.
fRevised series. Beginning in the July 1948 Survey figures for Africa and the total include production in Belgian Congo and the total includes also production in Mexico and revised figures for Australia. Data for Belgian Congo and Mexico were not available currently from May 1940 and March 1942, respectively, until July 1948 and figures reported through May 1940 for
Belgian Congo represented only about 50 percent of production while those previously included for Australia after December 1943 covered Western Australia only. Revised annual figures for
1938-46 and monthly figures for January 1946-April 1947 for the total and Africa are available upon request.
cTRevisions for January-November 1947 are shown in the February 1949 Survey.
SUEVEY OF CUEEENT BUSINESS
March 1949
Unless otherwise stated, statistics through
1946 and descriptive notes may be found in
the 1947 Supplement to the Survey
S-19
1949
1948
January
February
March
April
May
June
July
August
September
October
November
Dec&mber
244
127
76
30
473
121
265
42
705
385
248
62
509
197
231
72
r
684
r
11
963
45
1,250
9
1,104
10
918
6
1,209
19
1,063
0
526
287
150
C1)
0
0
825
279
0
0
763
152
1,080
0
870
193
4
l
o
o
January
FINANCE—Continued
SECURITIES ISSUED-—Continued
Securities and Exchange Commission— Continued
Estimated gross proceeds}:— Continued
By type of issuer:
Corporate, total _ _ _ .
mil. of dol
Industrial
do
Public utility
__
do
Railroad
_do
Real estate and
financial
do
Non-corporate, total
do
Federal agency not guaranteed
do
U S Government
do
State and municipal
do _ _
Foreign governments
do
Nonprofit
do _
New corporate security issues :J
Estimated net proceeds, total
do
Proposed uses of proceeds:
New money, total
do _
Plant and equipment
do
Working capital
_
do
Retirement of debt and stock, total
do
Funded debt
do _ _
Other debt
do
Preferred ^tock
_ _ _
do
Other purposes
do
Proposed uses by major groups:
Industrial total
do
New money
do
Retirement of debt and stock..
do
Public utility, total
_
do
New money
do
Retirement of debt and stock
do
Railroad, total
__ _
do
New money
do
Retirement of debt and stock
do
Real estate and financial, total
do
New money
-do
Retirement of debt and stock.
do
State and municipal issues (Bond Buyer) :
Long term
_
thous. of dol __
Short term
do
346
98
167
24
57
1,030
0
913
116
0
(L)
340
613
441
121
35
16
939
0
718
220
0
0
294
193
101
32
6
26
0
14
405
158
219
24
4
764
0
574
190
654
97
410
84
63
966
0
680
286
0
0
574
282
178
69
46
1,933
0
1,813
120
642
564
238
465
697
503
r
673
306
563
449
114
74
4
45
26
5
424
307
117
222
164
58
399
293
106
666
538
128
466
353
r
635
r
75
99
8
15
4
42
10
28
10
r 113
34
0
283
256
27
9
91
40
11
0
1
28
4
24
18
0
2
26
8
3
275
168
94
176
149
(i)
68
68
0
45
39
6
123
113
10
75
73
2
30
29
1
10
8
2
118
108
6
262
226
36
41
41
0
43
25
0)
382
361
20
244
236
8
62
62
0
9
8
195
177
16
228
209
18
71
71
0
9
8
0
258, 299
104, 759
318, 816
150, 303
119, 039
100, 402
283, 325
43, 138
213, 808
81, 747
284
279
420
420
471
416
392
301
266
263
381
348
332
619
676
283
608
577
288
573
551
252
570
550
238
580
540
252
551
563
244
636
273
269
52
42
771
0
597
174
0
0
594
688
126
325
81
157
1,341
0
708
633
0
C1)
679
626
0)
395
546
309
237
47
14
22
12
1
560
343
217
114
83
30
1
6
434
334
100
166
62
104
0
25
356
297
60
21
1
20
0
18
95
70
24
164
149
6
23
23
0
57
52
2
425
390
35
119
106
12
34
34
0
16
15
1
123
83
40
320
281
36
80
42
37
157
153
269
154
110
265
233
31
51
32
19
41
15
7
152
120
19
216
209
2
24
24
0
4
3
1
125, 763
77, 416
227, 408
79, 895
639, 938
103, 453
167, 626
94, 387
196, 141
24, 857
93
70
19
403
363
40
83
69
14
62
60
C1)
307, 848
59, 759
272
488
291
483
280
454
278
390
260
276
568
622
217
537
596
208
650
592
229
572
614
241
615
619
258
0)
o
C)
(i)
(i)
o
1,128
122
0
o
(0
0)
r
146
487
45
0
129
0
r
o
560
r
T
26
2
21
315
143
117
36
o
7
2
15
3
r
!2
r
143
'130
2
••479
'467
r 22
45
45
0
6
3
1
r
131, 720
r
84, 614
136
114
9
115
115
o
36
36
o
(i)
19
18
193, 512
125 754
COMMODITY MARKETS
Volume of trading in grain futures:
Corn
Wheat
mil. ofbu.
do
301
337
250
328
SECURITY MARKETS
Brokers' Balances (N. Y. S. E. Members
Carrying Margin Accounts)
Cash on hand and in banks
Customers' debit balances (net)
Customers' free credit balances..
Money borrowed
Bonds
mil. of dol
do
do
do
349
550
586
257
537
573
247
Prices:
Average price of all listed bonds (N. Y. S. E.),
100.19
99.84
100. 80
101. 72
100.04
99.93
99.77
99.97
99.87
100. 18
total§-_
.-dollars-99.79
99.85
100.74
100. 74
101. 35
102. 30
100.35
100.54
100 47
100. 40
100 37
100 69
Domestic
do
100 27
100 30
100 59
100 96
65.99
66.45
66.93
66.85
67.
61
65.20
67.65
68.19
68.41
Foreign
do
68.77
66.62
67.82
69 82
Standard and Poor's Corporation:
Industrial, utility, and railroad:
99.4
99.4
100.2
High grade (12 bonds) t_-- dol. per $100 bond-98.1
98.5
98.3
98.2
98.9 ,
98.1
99.2
97.897.9
100.5
Medium grade: t
91.4
94.4
Composite (14 bonds)
do
91.2
90.5
92.8
93.2
92.9
90.9
90.7
91.9
94.6
91.1
92.1
94.9
Industrial (5 bonds)
do
94.3
96.8
98.2
98.1
97.5
96.5
94.5
99.3
95.7
94.5
94.7
96.1
Public utility (4 bonds)—
do
96.0
96.3
96.7
95.6
95.0
95.0
94.4
93.6
96.0
94.6
95.6
93.6
93 8
82.1
82.2
83.5
87.2
86.9
94 7
Railroad (5 bonds)
do
82.2
89.8
86.8
85.1
89 1
85 8
86 4
124. 0
124.5
122.6
123.1
125.7
127.8
124.4
127.8
Domestic municipal (15 bonds)
do
127.0
124.5
124.9
126.5
129 9
U. S. Treasury bonds, taxable
___do
101. 20
100. 73
100. 79
100. 89
100. 84
101. 23
100. 82
100.70
100. 69
100.70
100.78
100.70
101. 16
Sales:
Total, excluding U. S. Government bonds:
All registered exchanges:
Market value
thous. of dol
98, 892
60, 126
87, 363
90, 704
57, 711
63, 049
67, 055
87, 151
51,238
50, 449
68, 289
63 470
2 go 656
Face value
do
134, 381
84, 508
67 315
67, 313
95, 180 132, 534 119, 745 123, 899
78, 581
88 261
2 go 540
90,827
89 347
New York Stock Exchange:
r
Market value
do
83, 047
93, 971
62, 799
85, 560
47, 699
54, 179
56, 161
81, 942
64, 672
48, 470
59, 386
60 152
57 073
Face value
do
128, 055
79, 154
63 479
63 847
74 345
89, 511 125, 834 113, 325 117, 483
83 409
86, 380
84 620
75 419
New York Stock Exchange, exclusive of stopped
sales, face value, total..
thous. of dol_. 111, 380
69, 745
85, 367 114, 479 108, 954 104, 021
62, 902
72, 582
75, 831
55, 967
74, 537
78, 063
69, 725
21
185
U. S. Government
do
51
52
16
79
60
41
137
306
258
36
65
111, 195
Other than U. S. Government, total§
do
69, 729
85, 288 114, 428 108, 902 103, 961
55, 926
62, 644
72, 445
75, 525
74,501
78, 042
69, 660
102, 419
Domestic
do
63, 511
74 326 106, 223
99, 580
96, 286
51 100
56 870
66 631
69 115
69 138
69 941
62 188
7,013
8,975
7,474
Foreign
do
5,846
7,931
4.606
5,713
10, 721
6,198
5,679
5,287
S. 018'
7.' 301
'Revised.
1
Less than $500,000.
2 Baltimore Exchange not included.
^Revisions for January-August 1947 are available upon request.
§ Sales figures include bonds of the International Bank for Reconstruction and Development not shown separately; these bonds are included also in computing average price of all listed
bonds.
fRevised series. The price series for high grade bonds is based on average yield of 12 bonds through August 1948 and 11 bonds thereafter, converted to a price basis by assuming a 2%
percent bond with 30 years to maturity. The series for medium grade bonds is converted from yields of 14 bonds through August 1948 and 12 bonds thereafter (number of industrial and
railroad bonds each reduced to 4 in September 1948), assuming a 3-percent coupon with 30 years to maturity; this series replaces the series for medium and lower grade bonds shown in the
Survey through the August 1948 issue. Both series are averages of daily figures.
SUEVEY OF CURRENT BUSINESS
S-20
Unless otherwise stated, statistics through
1946 and descriptive notes may be found in
the 1947 Supplement to the Survey
March 1949
1948
January
February
March
April
May
June
1949
July
August
September
October
November
December
January
FINANCE—Continued
SECURITY MARKETS— Continued
Bonds— Continued
Value, issues listed on N. Y. S. E.:
Face value, total, all issuescT
mil. of dol_.
Domestic
_ do
Foreign
do
Market value, total, all issues <^
do —
Domestic
do
Foreign
do
Yields:
Domestic corporate (Moody's)
percent
By ratings:
Aaa
do
Aa
do
A
do
Baa
_ _ do —
By groups:
Industrial
_
do
Public utility
do
Railroad
- do
Domestic municipal:
Bond Buyer (20 cities)
_
do
Standard and Poor's Corp. (15 bonds) _-_do
XI S Treasury bonds, taxable
i do
136, 543
134, 173
2,120
136, 232
134, 537
1,458
136, 531
134, 170
2,111
136, 313
134, 645
1,427
134,201
131, 835
2,116
134, 167
132, 544
1,379
134,297
131, 931
2,116
134, 546
132, 903
1,396
134,300
131, 931
2,119
135, 370
133, 714
1,408
131, 481
129, 116
2,115
133, 746
132, 085
1,415
131, 593
129, 230
2,113
131, 645
129, 995
1,408
131, 707
129, 345
2,112
131, 610
129, 957
1,412
131,294
128, 980
2,064
131, 128
129, 491
1,396
131, 226
128, 923
2 054
130, 945
129, 304
1,400
131, 426
129,126
2 050
131, 234
129,600
1 390
131,068
128, 771
2 048
131 306
129, 660
1,401
131,276
128, 994
2,032
131, 897
130, 230
1,419
3.12
3.12
3.10
3.05
3.02
3.00
3.04
3.09
3 09
3 11
3.12
3 09
3.02
2.86
2.94
3.17
3.52
2.85
2.93
3.17
3.53
2.83
2.90
3.13
3.53
2.78
2.87
3.08
3.47
2.76
2.86
3.06
3.38
2.76
2.85
3.03
3.34
2.81
2.89
3.07
3.37
2.84
2.94
3.13
3.44
2 84
2 93
3 13
3.45
2.84
2.94
3.15
3.50
2.84
2.92
3.18
3.53
2
2
3
3
79
88
16
53
2.71
2.81
3.08
3.46
2.91
3.03
3.44
2.90
3 03
3.43
2.89
3.01
3.40
2.85
2 97
3.34
2.82
2.95
3.27
2.80
2.96
3. 23
2.84
3.02
3.26
2.89
3 07
3.31
2 88
3 07
3 32
2.90
3.07
3. 35
2.89
3.09
3.37
2 85
3 06
3 36
2.80
2.99
3.26
2.40
2.45
2.45
2.48
2.55
2.45
2.42
2.52
2.45
2.34
2.38
2.44
2.23
2.31
2.42
2.27
2.26
2.41
2.28
2.33
2.44
2.39
2.45
2.45
2 43
2.46
2 45
2.41
2.45
2.45
2.31
2.42
2.44
2 20
2.26
2 44
2.17
2.15
2.42
527.8
100.5
224.9
6.6
199.4
33.7
99 3
1.4
595.5
34.0
370.0
40.4
456 0
62 9
196 1
68
168.9
23.6
93.8
2.4
725.6
58.9
653.8
75.6
498.2
105.0
227 0
7.0
207 8
40 1
114 0
2.2
679 3
42 8
418 4
81 1
474.7
67.4
229.4
8.6
206.6
25.4
115.1
2.4
1 334 4
115.6
845 0
119 2
53 7
50.5
23.7
55.9
12.0
3
37.2
8.2
17.1
2.2
10 6
56.0
22.4
43.5
18.6
54 3
52 5
30 1
42.1
11 2
.3
35.3
3.0
7.6
2.9
14.6
43.5
38.9
40.1
23.7
54 0
44.7
14.0
34.4
12.1
3
34 5
63
7.5
2.9
15
39
22
40
18
8
5
6
6
5
53.2
46.7
16.2
42.9
10.3
.5
38.8
12.8
8.2
3.4
14
45
69
88
36
2.56
2 57
3.22
1.84
2.32
1.88
45.58
45 42
54.56
31.87
5.62
5 66
5.90
5.77
4.63
3 49
2.56
2 58
3.21
1.84
2.32
1.88
43.57
43 20
53.38
30.36
5.88
5 97
6.01
6.06
4.77
3 62
2.59
2 60
3.21
1.94
2.32
1.88
46.53
46 60
53.89
32.96
5.57
5 58
5 96
5.89
4.60
3 40
2.62
2 64
3 22
1 94
2 32
1 88
47.95
48 02
54 89
34 93
5.46
5 50
5 87
5 55
4 50
3 29
2.65
2 68
3.21
1.94
2.33
1.88
50.36
50 77
56.78
37.22
5.26
5 28
5.65
5.21
4.43
3 09
2.67
2 69
3.21
1.99
2.33
1.86
50.24
50 77
56.50
37.53
5.31
5 30
5 68
5.30
4.54
3 34
2.69
2 73
3.26
1.99
2.33
1.86
48.45
48 60
56.25
35.54
5.55
5 62
5.80
5.60
4.72
3 53
2.77
2 82
3 26
2 04
2 33
1 86
48.61
48 60
56 17
36 59
5.70
5 80
5 80
5 58
4 54
3 49
2.80
2 34
3 25
2 19
2 33
1 86
47.05
46 87
55 10
35 02
5.95
6 06
5 90
6 25
4 67
3 40
2.90
2.97
3.28
2.24
2.33
1.87
49.87
50.07
56.55
36.12
5.82
5 93
5.80
6.20
4.45
3 16
3.02
3.12
3.29
2.32
2.33
1.87
44.97
44 70
54.14
31.28
6.72
6 98
6 08
7 42
4 87
3 30
Stocks
Cash dividend payments publicly reported:
Total dividend payments
mil. of doL
Finance
do
Manufacturing
- do
Mining
do
Public utilities:
Communications
do
Heat light and power
_ do __
Railroad
do
Trade
---do
Miscellaneous
do
Dividend rates, prices, yields, and earnings, 200
common stocks, Moody's:
Dividend rate per share (200 stocks)*
dollarsIndustrial (125 stocks)
do
Public utility (25 stocks)
do _„
Railroad (25 stocks)
do
Bank 05 stocks)
do _
Insurance (10 stocks)
_
do
Price, per share, end of month (200 stocks)*..do
Industrial (125 stocks)
do
Public utility (25 stocks")
do
Railroad (25 stocks)
do
Yield (200 stocks) f
.percentIndustrial (125 stocks)
do
Public utility (25 stocks)
. ... do
Railroad (25 stocks)
do
Bank (15 stocks)
.
do
Insurance (10 stocks)
do
Earnings per share, quarterly: *
Industrial (125 stocks)
dollars..
Public utility (25 stocks)
do
Railroad (25 stocks)
do
Dividend yields, preferred stocks, high-grade, 15
stocks (Standard and Poor's Cor p. )._. percent „
Average price of all listed shares (N. Y. S. E.)
Dec. 31, 1924=100Dow-Jones & Co. (65 stocks)
dol. per share
Industrial (30 stocks)
- do
Public utility (15 stocks)
do
Railroad (20 stocks)
do
Standard and Poor's Corporation:
Industrial, utility, and railroad: §
Combined index (41P. stocks).— 1935-39 =100. .
Industrial (365 stocks)
- do
Capital goods (121 stocks)
.do
Consumers goods (182 stocks)
do
Public utility (31 stocks)
-.
do
Railroad (20 stocks)
do.—
Banks, N Y. C. (19 stocks)
do _ Fire and marine insurance (18 stocks)
do
Sales (Securities and Exchange Commission):
Total on all registered exchanges:
Market value
mil. of dol
Shares sold
thousands.
On New York Stock Exchange:
Market value
mil. of dol
Shares sold
thousands
Exclusive of odd lot and stopped sales (N. Y.
Times)
thousands
Shares listed, New York Stock Exchange:
Market value, all listed shares
mil. of dol
Number of shares listed
.
_ millions
6.32
3.34
2.85
6.75
3.64
7.05
7
8
2
0
9
3.04
3 14
3 30
2 40
2 34
1 99
46.30
46 33
54 23
31 31
6.57
6 78
6 09
7 67
4 74
3 34
3.07
3 17
3 30
2.42
2 35
1 99
46. 40
46 36
54 62
31 14
6.62
6 84
6 04
7 77
4 67
3 33
i>7 00
7.15
*»3. 80
J>9.60
4.13
4.18
4.12
4.12
4.09
4.04
4.10
14.20
14.20
34.28
24.21
24.15
24.09
73.9
63.61
176 26
33.06
51.44
70.5
60 91
168 47
31.95
49.19
75.5
61.75
169 94
32.24
50.64
78.0
66 03
180 05
33.75
56.03
82.8
69.11
186.38
35.16
60.32
82.3
70.61
191 05
35.73
61.37
78.2
69.97
187 05
35.39
62.34
77.7
67 99
181 77
34.65
60 29
75.0
67 69
180 33
34.74
60 23
78.8
69.00
185. 19
35.20
60.62
71.4
64.90
176. 60
33.34
55.00
64. 24
176. 31
33.09
53.27
65 37
179 75
34.43
53 16
120.1
126.0
115.0
125.1
95 1
106.5
93.9
119.6
114.2
119.2
108.9
117.8
92.6
101.9
91.2
117.7
116.4
121.8
111.4
118.9
93.0
105.2
92.5
119.5
124.6
130.8
119.9
125.6
96 2
115.2
94.2
125.4
130.2
136.9
125.0
131.1
99.2
122.6
97.5
131.1
135.1
142.7
129.8
135.3
100.6
125.6
96.6
132.7
131.9
138 9
126.8
132.0
99.5
124. 7
94.3
127.3
127.1
133 5
121.6
128 3
97 3
119.7
95 0
122.8
125.7
131.7
121.1
127.2
97.3
120.4
96.1
125.1
127.8
134.3
123.9
128.0
97.4
120.9
96.0
135.3
120.4
126.4
116.3
122.1
94.2
108.8
92 9
131.0
119.4
125. 5
115.9
120. 2
r
92.9
' 105. 8
90. 3
135.7
121.0
127 3
117.6
122 8
94 2
105.9
92 6
138.6
924
40,123
777
34, 336
897
41, 447
1,433
63, 059
1,717
77, 141
1,456
62, 659
1,108
45, 256
740
30, 823
746
32, 322
891
40, 593
1,137
53,415
854
37 063
785
28, 696
659
24, 704
759
29,774
1,219
45, 304
1, 468
57, 504
1 225
46, 322
934
32, 877
624
21, 758
626
22, 649
747
29,081
970
39, 345
716
26 471
20,218
16, 801
22, 993
34, 613
42, 769
30, 922
24, 585
15, 039
17, 564
20, 434
28,319
97 Qfil
18 825
66, 090
1,923
63, 158
1,928
67, 757
1,933
70, 262
1,938
74, 704
1,962
74 507
1,977
71, 056
1,991
70 862
1,998
68, 614
2,004
72, 186
2,008
65, 466
2,011
67 048
2 018
67 478
2 030
2
* Revised.
* Preliminary.
1 Data based on 14 stocks.
Data based on 11 stocks.
c? Total includes bonds of the International Bank for Reconstruction and Development not shown separately.
§ Number of stocks represents number currently used; the change in the number does not affect the continuity of the series.
*New series. The new series on dividend rates for 200 common stocks, which replace similar data formerly shown for 600 stocks, price per share, and earnings and the revised series for
yields of 200 common stocks are for an identical list of companies. Dividends are at annual rates and are determined at the end of the month on the basis of the most recent declarations.
Yields are obtained by dividing per share dividends by per share prices. Earnings are net after taxes and contingencies less preferred dividend requirements (whether actually paid or not)
and are quarterly earnings (partly estimated) at annual rate; for utilities only they are for the 12 months ended each quarter. The number of shares used to obtain per share figures represents
number outstanding per companies' balance sheets adjusted for stock splits, etc., so as to be comparable with number outstanding December 31, 1946. A more complete description of the
series and data beginning 1929 will be published later.
t Revised series. The yield series for utility stocks has been revised to include only operating utilities beginning 1946 and earlier data have been revised back through 1942. There have
been minor revisions in the yield series for industrial and insurance stocks and revisions in the railroad series beginning in 1946. Revisions through April 1947 will be shown later.
SURVEY OF CURRENT BUSINESS
March 1949
Unless otherwise stated, statistics through
1946 and descriptive notes may be found in
the 1947 Supplement to the Survey
S-21
1948
January
February
March
April
June
May
1949
July
August
September
October
November
December
204
272
133
165
218
132
259
342
132
January
FOREIGN TRADE
INDEXES
Exports of U. S. merchandise:
Quantity!
Value!
Unit value.
Imports for consumption:
Quantity
Value
_ _
Unit value
Agricultural products, quantity:
Exports, domestic, total:
Unadjusted!
Adjusted!
_
Total, excluding cotton:
Unadjusted!
Adjusted!..
Imports for consumption:
Unadjusted _. _ _
Adjusted
213
290
137
208
289
139
140
174
125
141
180
128
86
87
do
do
do
do_ .
1923-25=100..
do
_
do .
r
r 222
303
198
270
136
185
246
133
141
185
132
139
184
133
143
189
132
133
175
132
168
221
133
88
121
92
93
91
73
98
73
99
85
130
108
123
149
148
188
161
148
152
121
155
121
134
120
181
163
96
99
112
122
93
103
104
113
99
103
102
103
92
85
130
129
7,781
4,682
8,050
5,735
8,060
5,055
8,356
5,336
7,319
5 017
r
r
6, 937
5, 673
5,609
5,344
r
1, 021
r
820
0)
(i)
'215
298
136
293
136
200
130
126
165
131
132
170
130
145
187
129
85
104
91
103
80
101
79
99
73
95
134
142
139
175
143
162
133
163
124
146
123
115
111
107
124
109
86
80
5,796
3,959
5,312
4,173
5,125
5,036
4,780
4,438
1,092
925
165
1,086
1, 139
1,120
943
197
936
187
921
182
66, 134
68, 967
62. 374
78, 626
187, 784 * 195, 423 r 190, 636 ' 201, 462
401,
617
r
406,
?98
••371,415
'
398,
292
r
138, 329 «• 141. 729 151, 301 r 150, 775
r
118.802 «• 113, 723 ••126,058
127, 878
176, 096 ' 174. 889 •• 198, 143 »• 190, 324
63,908
r 193, 062
r 352, 016
«• 171, 245
149, 369
«- 172, 457
64, 596
'r 180, 623
336, 757
'r 179, 067
119, 055
r
134 456
do _
do
do
r
1924-29=100..
do
136
r
155
r
197
271
138
!95
263
135
219
r
r
r
r
134
176
132
r
r
SHIPPING WEIGHT
Water-borne trade:
Exports, including reexports. .thous. of long tons
General imports
_ _ _ _ _
do
VALUE
Exports, including reexports, total!
mil. of dol__
Commercial
do
Foreign aid and relief §
do
By geographic regions:
Africa
thous of dol
Asia and Oceania!
_ _ ._
do
Europe!
_
do
Northern North America
do
Southern North America
do
South America
do
Total exports by leading countries:
Africa:
Egypt... ._
_ _ _
do
Union of South Africa
_ do
Asia and Oceania:
Australia, including New Guinea _
do
British Malaya. _
do
China..
do
India and Pakistan
_
do
Japan!
do
Netherlands Indies
do
Republic of the Philippines. _.
do
Europe:
France
_
do
Germany! _
do
Italy!
do
Union of Soviet Socialist Republics _ do
United Kingdom
__ _ _
do
North and South America:
Canada
_ _
do
Latin American Republics, total._ _ _ _ do
Argentina
do
Brazil
« _
_
do
Chile
do
Colombia
_
do
Cuba
_
do
Mexico
_ _ >
do
Venezuela
do
Exports of U. S. merchandise, total !__mil. of dol_.
By economic classes:
Crude materials!
thous. of dol
Crude foodstuffs!
do
Manufactured foodstuffs and beverages!.. do
Semimanufactures! _ _
do
Finished manufactures!. _
do
By principal commodities:
Agricultural products, total!
do
Cotton, unmanufactured!... _ _ _ _ do
Fruits, vegetables, and preparations!.. do
Grains and preparations!
do
Packing house pipducts!__
___do
r
920
166
r
r
r
r
r
1, 102
r
1, 015
(i)
(i)
r
1, 019
0)
0)
r
r
r
r
990
68, 022
209, 243
330, 886
155, 103
114, 915
141, 171
66 998
180. 890
323, 239
169, 273
108, 012
141, 688
926
59
r 154
r 319
r 168
r gg
r 125
489
735
674
744
162
262
0)
*C)
' 61, 007
46, 339
131, 209
«p 178, 618
' 327, 816 ' 272, 245
f 180, 155 •• 175, 339
r 119. 702 ' 99, 188
•• 154, 141
95, 564
1,284
0)
(0
78, 988
242, 717
436, 911
165, 481
154, 862
204, 753
2,439
38, 273
3,058
36, 698
2,862
36, 610
3,455
49, 593
2,314
40, 565
3,322
41, 309
3,319
44, 376
1,531
45, 578
3,465
42, 278
2,286
39,344
2,000
31,885
6,282
45, 638
14, 203
6,733
18,011
29, 354
30, 239
6,967
42, 632
9,706
7,962
21, 891
18, 006
37, 888
5,536
43, 584
r
6,446
11, 177
31, 364
32, 762
11, 797
8,308
41, 851
8,571
10, 760
35, 494
25, 048
12, 093
7,421
39, 530
6,814
7,913
22, 824
32, 294
18, 060
7,473
36, 857
7,881
7,227
26,633
26, 519
46, 791
8,557
39, 561
r
5,711
4,899
7,737
31, 148
26, 390
7,425
26,028
'9,823
5,703
9,473
28, 812
27, 449
8,388
38, 153
10, 393
1,598
11, 232
17, 519
18, 267
*3,839
31, 570
17, 947
7,069
13, 025
35, 786
30, 077
16, 754
53, 043
70, 859
62, 015
36, 442
7,479
72, 397
57, 217
61, 209
40, 165
5,175
60, 078
30, 006
'61, 322
30, 097
55, 093
67, 384
48, 156
136, 710
280, 870
51,065
45, 779
8,028
19, 078
33, 752
r
44, 250
35, 359
1,082
r
r
139,415
270, 924
48, 249
r
45, 672
5,909
20, 438
36, 995
37, 121
38, 397
1,076
* 112, 154 r 108, 595
«- 99, 145
118. 742
118. 121 r 100, 953
r
r 130, 255
f 621. 863
' 281, 570
42, 633
20, 507
147, 420
12, 383
9, 209
6,868
23. 504
18, 489
24, 108
6,248
41, 540
r
r
r
64, 472
91, 174
41, 212
8,176
51, 734
148, 783
306, 373
48, 842
63, 135
5,662
20, 694
39, 325
45, 597
40, 807
1,128
281, 035
33, 620
28, 424
141, 755
r
14, 412
T
r
' 108, 351
104, 258
122. 231
' 120, 808 r 129, 879
' 626, 657 r 663, 342
r
r
r
T
293, 174
45, 904
35, 084
127, 257
r
21, 524
r
r
f
r
59, 378
87, 023
45, 730
r
3, 971
43, 604
r
69, 399
61, 516
47,589
204
45, 726
r
r
48, 016
90, 492
25, 040
23
40, 368
r
r
37, 495
78, 468
22, 098
412
65, 649
148, 374
300, 228
46, 512
46, 154
7,136
r
21, 924
40, 207
47, 132
r
46, 554
1,110
' 168, 272 * 176, 577 r 152, 711
' 303, 827 r 236. 854 ' 289, 909
r 38. 269 r 27, 452 r 21, 498
43, 062
20, 012
37, 090
5,342
10, 141
6,372
20, 353
14, 264
13, 717
50,119
32, 858 r 30, 873
r
r
45, 852
46, 384
46, 870
48, 719
44, 359
43, 671
r
r
1,091
1, 005
1,010
r
»• r125, 595
74, 236
129, 797
121, 116
T
639, 993
86, 352
89, 745
127, 043
122, 352
684, 469
272, 722
31, 282
27, 754
132, 856
9,235
272, 097
40, 439
25, 298
131, 062
9,873
T
r
r
115, 550
81, 311
113, 839
113, 331
580, 672
239, 392
26, 475
18, 860
136, 600
10, 448
r
T
r
r
r
r
7, 748
4,088
18, 968
19, 373
40, 172
5 218
33, 396
r
r
r
r
37, 504
81, 370
23, 824
1,178
53, 648
30, 819
57 779
26 263
89
54 617
30, 411
65, 306
29, 418
525
r
51, 806
r
r
r
43
526
46, 071
58, 394
r
* 165, 647 r 166. 272 f 176, 026 r 174, 152
208. 506 r 256, 455 ' 184, 435
«• 234, 214
r
14, 942
' 16 659 18, 961 r 20, 249
33, 115
41, 255
29, 129
«• r35, 940
7,599
13, 822
5,899
8, 076
r
r
12, 005
12, 651
13. 477
9,748
32, 772
30, 003 r 28, 863 r 38, 397
r
r
36, 698
38, 845
38, 293
42, 738
r
36, 776
48, 558
27, 923
47,r 106
T
r
916
I, Oil
981
813
r
127, 854
127, 241
92, 560
130, 296
111 466
102, 921
115, 236
550, 096
119, 151
139 029
107, 338
107, 622
506, 303
124, 194
107 238
97, 297
r
91 489
r
495 796
r 102, 711
r 560, 994
281, 020
28, 673
15, 844
159, 535
11, 608
293, 615
21, 002
16, 307
190,154
11,011
265 869
30 755
18, 942
143 296
10 722
289, 415
43, 769
18, 808
149, 574
9,987
146, 733
96, 545
80, 397
83, 961
405, 320
184, 256
116, 621
122, 784
128, 944
719, 242
272, T92
74, 777
15, 346
108, 440
8,190
379, 791
91,623
24, 732
142, 698
18, 922
T
r
r
r
161, 074
338, 159
26, 160
57, 217
21, 482
18, 533
46, 791
50, 586
58, 256
1,272
r
r
799, 967
Nonagricultural products, total!
do
794, 656
834, 756
819, 597
836, 805
721, 098 r 540, 764
765, 097 r 731, 554 r 686, 308 650, 226
892, 055
Aircraft, parts, and accessories.. _ _ ^ _ _ _ d o
10, 586
13, 613
14, 791
19, 222
10, 576
14, 149
10, 651
11, 410
11, 141
10, 591
11,052
15, 888
r
76, 732
72, 485
Automobiles, parts, and accessories
do
83, 819
74, 898
90, 012
64, 084
83, 931 ' 70, 507 69, 438
78, 036
47, 748
91, 760
63, 041
72, 509
Chemicals and related products!
do
66, 275
68, 132
70, 893
63, 415
64, 406
58, 072
53,877
63, 794
82, 066
50, 932
Copper and manufactures
do
11, 184
12, 755
11, 102
10, 384
9,188
5,904
10, 975
9, 359
10, 004
7,884
6,176
8 136
Iron and steel-mill products
_ _ _ do_ _ r 67, 058
61,044
63, 708
51, 282
57, 808
r 36 075
45 692
45, 731
51, 322
48, 479
51, 628
70 075
201, 569
213, 963
Machinery, total!
do
198, 453
201, 307
184, 172
217, 486
161, 862
172, 270
160, 080
185, 882
124, 196
231, 726
28, 606
28, 564
32, 983
39, 024
Agricultural.
_ _ _ _ _ _ _
do
33, 267
34, 066
28 594
30, 412
29, 905
32 281
25 901
38 381
Electrical!
do... r 42, 872
46, 159
48, 973
50, 128
47, 560
37, 502
34, 345
31, 792
34. 960
37, 236
26 057
52 712
13, 352
14. 990
14, 437
Metal working
_
do
15, 980
11,685
11,
903
11
771
12,
576
11
795
11,
477
7
951
19 216
104, 170
Other industrial
do_ _ r 103, 652
96, COS
101, 772
97, 426
90, 012
86, 194
77, 829
75, 661
94 427
57 946
106 737
47, 250
44, 168
49, 409
Petroleum and products!
do
58, 845
60,
388
61,
395
61,
266
67,
864
56,
255
50,
835
43,
332
56
601
r
r
81, 522
74, 935
Textiles and manufactures!
do
77, 457
83, 129
78, 626
67,328
62, 136
53, 703 r 55, 013
68, 395
50,477
91. 397
r
l
Revised. Not available; see note marked "!".
§ The series includes UNRRA shipments and shipments under the various foreign aid programs initiated during 1947 (U. S. Foreign Relief, Interim Aid, and Greek-Turkish Aid, Government procured items), the Economic Cooperation Administration Program which began in April 1948, and Army civilian supply shipments (see marked "!"). Separate figures for foreign aid
and relief, other than Army civilian supply shipments, are not available after May 1948; moreover, some goods classified in previous months as commerical exports were subsequently financed
by E. C. A. and Interim-aid authorizations.
! The indexes of exports of agricultural products beginning in the May 1948 Survey, and other indicated export series beginning in the April 1948 issue, include Army civilian supply shipments (with the exception of shipments of petroleum and petroleum products other than asphalt for road building) initiated during the war period to furnish relief to the civilian populations
in occupied areas. These shipments totaled 910 million dollars in 1947; data were not reported prior to 1947. Estimated total Army civilian supply shipments for 1944-46, based on data reported by the Army and Navy, are as follows (millions of d9llars): 1944, 155; 1945, 724; 1946, 447. These 1944-46 totals include petroleum and petroleum products which are not included in
1947 and 1948 data as indicated above. "Total exports including reexports" includes comparatively small amounts under the lend-lease program which have not been shown separately since the
March 1948 Survey.
SURVEY OF CURRENT BUSINESS
S-22
Unless otherwise stated, statistics through
1946 and descriptive notes may be found in
the 1947 Supplement to the Survey
March 1949
1949
1948
January
February
March
April
May
July
June
August
September
October
November
December
January
FOREIGN TRADE—Continued
VALUE—Continued
General imports, total
. thous. of dol__
By geographic regions:
Africa
_ __do
Asia and Oceania
do
Europe
do_ __
Northern North America
do
Southern North America
do _
South America
_do_ __
By leading countries:
Africa:
Egypt
do
Union of South Africa
do _
Asia and Oceania:
Australia including New Guinea
do _
British Malaya
_. _
__ __do
China
do
India and Pakistan
do_ __
Japan
do
Netherlands Indies
do _
Republic of the Philippines
__do
Europe:
France __do
Germany
do
Italy
_
do_ __
Union of Soviet Socialist Republics
do
United Kingdom
do
North and South America:
Canada
do
Latin American Republics, total
do _ _
ArP^Tif^TiH
j|
do
«• 545, 072
582, Oil
r 26, 518
' 123, 666
r 79, 126
' 105, 834
60, 230
«• 149, 698
45, 513 ' 44, 561
122, 002
138, 879
98, 964
85, 649
101, 552 r 128, 617
114, 964
93, 771
133, 525
139, 887 r
665, 955
527, 901
549, 415
29, 285
112, 286
80, 725
114, 509
88, 248
102, 874
35, 506
28, 868
112, 298
137, 669
' 83, 622 95, 043
120, 261
129, 274
84, 892
76,690
112, 902
148, 008
615, 525
r
' 550, 062 ' 721, 588
558, 346
' 598, 860
558, 196
597, 277
31, 932
117, 739
87, 588
r 125, 778
73, 173
122, 259
' 41, 806
134, 284
«• 89, 237
136, 879
' 82, 107
114,079
»• 33, 955
97, 331
' 94, 174
157, 298
67, 443
108, 017
31, 184
125, 102
102, 205
153, 638
64,774
120, 374
23, 097
95, 519
' 81*758
170. 583
55', 729
123, 376
35, 233
179, 008
112, 923
148, 791
83, 095
162, 539
' 9, 959
10, 056
205
13, 767
206
11, 029
350
10, 849
6,552
17, 463
8,736
16, 744
4,083
5,502
13, 311
8,914
24, 474
10, 971
23, 819
7,130
8,092
' 13, 950
4,999
14, 404
9,315
17, 125
6,214
8,458
11, 546
13, 171
34, 501
13, 747
26,958
7,352
15, 235
25, 081
6,402
4,102
7,478
9,788
21, 468
7,661
3,604
10, 260
5,253
' 27, 051
1,797
* 9, 613
2,486
11, 836
r 2, 082
12, 983
464
9,456
215
12, 182
••415
9,978
1,577
12, 580
•• 10, 322
' 10, 901
4,835
' 32, 017
6,478
22, 915
2,958
' 2, 721
21, 883
11, 133
20, 304
12, 299
27, 383
4,385
' 3, 266
18, 912
24, 393
23, Oil
10, 590
22, 512
4,643
4,908
23,990
7,287
16, 684
7,778
35, 563
4,019
3,511
16, 942
5,589
20, 237
9,133
28,457
3,787
2,942
17, 632
13, 242
22, 204
10,232
27, 474
5,671
6,038
25, 415
13, 468
23, 872
•• 11, 297
22, 317
r
6, 750
5,889
r
15, 356
16, 938
20, 493
9,940
20, 505
5,518
' 8, 961
23, 538
4,642
r 2, 681
6,485
1,734
8,414
' 7, 414
25, 578
r 4, 842
1,358
9,127
6,682
23, 871
«• 4, 656
1,501
7,210
7,371
' 20, 862
7,471
6,190
3,064
' 2, 003
7,214
5,937
7,400
'5,628
' 26, 247 ' 23, 646
6,807
2,982
5,863
8,462
' 23, 643 «•
5,521
3,056
9,103
6, 745
19, 462
7,344
3,491
11, 775
6,592
29, 379
113,032
177, 052
12, 520
30, 935
15, 697
8,694
33, 763
24, 227
23, 344
••525,609
116, 194
186, 486
11, 906
35, 984
13, 706
14, 182
38, 990
17, 533
22, 735
543, 603
122, 346
125, 531
212, 966 r 184, 043
17, 600 r 16, 104
52, 381
36, 216
18, 004
15, 815
19, 963
21, 145
30, 686
29, 810
17, 051 ' 18, 646
25. 693
20, 158
595, 911
563, 310
134, 004
153,338 ' 149, 251 165, 863
163, 575
182, 426
166, 680
174, 444
15, 758
10, 076
6,908
10, 352
37, 674
34, 909
48, 393
47, 449
' 13, 595 12, 208
11, 876
12, 536
18, 762
18, 737
22, 840
19,954
42, 551
32, 787
15, 965
29, 140
17, 482
17, 238
19, 623
17, 301
21, 317
25, 105
' 20, 626
21, 498
588, 637 ' 587, 998 601, 649 ' 557, 195
145, 943
231,054
9,830
62, 235
18, 019
28, 750
26, 630
25, 232
27, 271
705, 982
'
195, 121 «• 153, 174
r
121, 995 r 85, 425
r 70, 650
>• 56, 030
'r 140, 794 ' 121, 445
109, 818 r 109, 535
153, 254
. 95,101
63, 262
130, 225
101, 761
187, 217
106, 830
61, 135
133, 127
107, 371
169, 296
89, 079
57, 206
138, 525
109, 204
177, 410
88, 646
74, 738
140, 598
107, 244
183, 065
93, 208
67,086
138, 871
105, 645
164, 732
105, 931
72, 852
139, 723
118, 411
146, 535
116, 094
53, 434
127, 860
113, 269
203, 548
145, 217
63, 862
165, 397
127, 958
256, 337
55, 306
5,050
27, 740
1,745
27, 448
19, 893
345, 311
12, 771
231, 972
60, 865
5,064
22, 758
1,091
13, 452
16, 456
325, 220
9, 226
313, 647
85, 827
6,331
37, 862
1,543
21,003
18, 540
392, 335
11, 932
63, 892
15, 770
13, 663
22, 857
34. 587
34^ 430
55, 356
15, 888
7,637
20, 974
39, 609
41, 454
88, 027
22, 820
24, 706
22, 562
39, 081
46, 032
26 250
17 636
11 085
5 094
'978
473 636
4,863
1,208
f 6, 032
5,547
21, 863
5,721
1,953
20, 184
99, 895
' 101, 462
212, 731
r 200, 084
' 31, 669 17, 658
44, 165
42, 906
17, 142
12, 675
18, 135
27, 794
12, 098
34, 681
25, 320
19, 573
19, 986
r 18, 625
r 556, 038
573, 674
Brazil
do _
Chile
-do
Colombia
do
Cuba
..
___do
Mexico
do _
Venezuela
_ _ -do
Imports for consumption, total
do
By economic classes:
r 197, 146
Crude materials
do
108, 029
Crude foodstuffs
_
do
34, 905
Manufactured foodstuffs and beverages. -do
r
Semimanufactures
do_ __ 121, 325
94, 633
Finished manufactures
do
By principal commodities:
' 272, 067
Agricultural products, total
do
68,656
Coffee
_do_ _.
20, 793
Hide*! and skins
do
Rubber, crude, including Guayule
do _ r 31, 340
143
Silk, unmanufactured
do
6,090
Sugar
do
39, 259
Wool and mohair, unmanufactured
do
«• 283, 971
Nonagricultural products, total
do
16, 791
Furs and manufactures
do
Nonferrous ores, metals, and manufactures,
38, 444
total
thous. of dol_
12, 425
Copper, incl. ore and manufactures- do
9,335^
Tin, including ore
do _
25, 300
Paper base stocks
do
29, 375
N ewsprint
do _
«- 29, 201
Petroleum and products
__do
177, 453
115, 914
55, 917
133, 772
90, 619
•• 126, 440
237, 245
19, 723
40, 684
17, 874
17, 442
47, 195
27, 204
26, 880
«• 638, 378
r
277,348
62, 324
12, 592
22, 459
276
30, 796
30, 597
296, 326
18, 355
310, 208
63, 435
10, 587
29, 639
1,863
40, 808
34, 803
327, 981
11, 996
224, 546
39, 671
8,110
16, 405
828
25, 547
24, 612
300, 636
9,600
237, 036
52, 703
6,961
16,335
982
30, 254
20, 269
306, 516
15, 276
267, 952
67, 489
8,694
26, 688
2,174
' 22, 115
29, 007
327, 895
14, 503
238, 887
50, 357
10, 040
27, 233
3,316
22, 470
25, 142
324, 389
10, 104
258, 109
r 44, 461
6,649
28, 365
906
42, 142
26, 948
330, 521
17, 258
261, 761
46, 645
6,878
22, 294
1,034
30, 934
22, 156
326, 112
16, 630
47, 138
19, 129
5,692
30, 978
27, 483
30, 368
49, 643
19, 027
7,613
' 29, 003
37, 367
37, 277
44, 744
15, 376
8,452
22, 347
32, 801
32, 544
48, 989
13, 499
13, 225
28, 967
«• 34, 477
30, 204
50, 995
18,967
13, 947
32, 296
34, 843
34, 612
52, 523
19, 224
7,965
29, 563
33, 093
' 32, 799
55, 648
15, 895
11, 666
27, 271
37,320
r
33, 267
r
r
54, 468
' 14, 222
10, 899
23, 612
33, 172
35, 569
r
589, 300
578, 142
TRANSPORTATION AND COMMUNICATIONS
TR AN SPORTATION
Airlines
Operations on scheduled air lines:
Miles flown, revenue. _
thousands-Express and freight carried
short tons..
Express and freight ton-miles flown. _ thousands ._
TVTail toTi-tnilps
flown
do
Passengers carried, revenue
Passenger-miles flown, revenue
_.
23,624
11, 754
6,850
2,737
752
_do_ __
do __ 393, 637
20, 978
10, 582
6,199
2,618
24, 849
12, 793
7,817
3,045
349, 934
25, 910
694
431, 156
25, 710
12, 422
7,446
2,819
1,017
473, 950
27, 176
13, 275
8,406
2,923
1,131
527, 924
28,050
13, 069
8,097
2,868
1,187
575, 019
29,444
11, 998
7,296
2,754
1,181
546, 018
29, 427
13,316
7,935
2,890
1,206
552, 710
27, 689
15, 952
9,540
3 066
1,176
535, 578
27, 718
16, 575
10, 028
3 321
1,159
522 007
25 361
14 973
9 509
3 360
'966
440 971
26, 355
25, 318
21, 877
23,632
23, 180
24 106
d
24
23 210
t
23 373
20
22, 712
d
12
8. 6591
1,437
118, 300
8. 9140
1,356
123, 700
8. 9694
1 342
124, 200
9. 0165
1 369
121 200
9 0913
1 439
130 900
9 1439
1 392
130' 200
3 524
4 183
3 562
3 502
4? 574
889
3 295
2.100
1.523
881
Express Operations
Operating revenue
Operating income
thous. of dol._
_ _ _
do
26, 575
73
78
Local Transit Lines
Fares, average cash rate.
_cents__
8. 4043
Passengers carried, re venue t
millions
1,537
Operating revenues
_
_ . thous. of dol._ 120, 100
8. 4652
1,438
111, 100
5
8.5234
1,581
121, 800
131
8. 5816
1,491
119, 500
1
8.6093
1,487
120,200
Class I Steam Railways
Freight carloadings (A. A. R.):1
r
2,954
2,984
Total cars
thousands
3, 819
3,078
4,404
408
Coal
__ _ _ _ _ _ _
_do_ _ _
916
730
510
992
53
60
40
72
Coke
do
75
Forest products
do
181
173
224
205
166
141
153
Grains and grain products
do. __
225
144
200
55
34
35
49
Livestock
do
63
64
204
'54
56
395
Ore
do
r
461
434
544
Merchandise, 1. c. 1
do
447
500
r
1,454
1,509
Miscellaneous
_
do
1,510
1,913
1, 789
••Revised. d Deficit.
IData for January, May, July, October 1948, and January 1949 are for 5 weeks; other months, 4 weeks.
JFigures for January-March 1946 revised; see note marked "t" on p. S-22 of the July 1948 Survey.
25
795
58
189
199
42
332
408
1,499
786
67
246
322
44
408
487
1.823
746
59
212
223
43
311
420 '
1,548
694
58
197
195
58
302
420
1.578
9
75
243
264
99
346
557
12
642
60
169
207
62
222
411
28 585
' 61
9 1327
1 478
143 300
9 2131
1 399
2 951
3 428
1.428
l.fififi
621
59
156
193
47
78
369
756
78
168
215
51
59
434
SUEVEY OF CUKRENT BUSINESS
March 1949
Unless otherwise stated, statistics through
1946 and descriptive notes may he found in
the 1947 Supplement to the Survey
S-23
1949
1948
January
Febru-
ary
March
April
May
June
July
August
Septem-
ber
October
Novem-
ber
Decem-
ber
January
TRANSPORTATION AND COMMUNICATIONS—Continued
TRANSPORTATION—Continued
Class I Steam Railways—Continued
Freight car loadings (Federal Reserve indexes):
Total unadjusted
1935-39=100
Coal
do
Coke
___ _
do
Forest products
do
Grains and grain products
do _
Livestock
do
Ore
do
Merchandise, 1. c. 1
Miscellaneous
Total, adjusted
^
Coal
Coke
Forest products
Grains and grain products
Livestock
Ore
do
do
do
do
_ _ _ do
do
_ _ do __
do
do
Merchandise, 1. c. 1
do
Miscellaneous
do
Freight-car surplus and shortage, daily average:
Car surplus, total
number
Box cars-- _
_ _
do
Coal cars§
-do
Car shortage, total
_
do
Box cars
do
Coal cars§
do_ _
Financial operations (unadjusted):
Operating revenues total
thous of dol
Freight
do
Passenger
do_
Operating expenses
do
Tax accruals, joint facility and equipment rents
thous. of doL „
Net railway operating income
do
Net income!
do
Financial operations, adjusted:
Operating revenues total
mil of dol
Freight
do
Passenger
do
Railway expenses
do
Net railway operating income
do
Net income
do
Operating results:
Freight carried 1 mile
mil. of ton-miles_Revenue per ton-mile
cents
Passengers carried 1 mile
.millions
133
155
192
137
132
81
45
65
139
145
155
183
153
132
84
180
68
152
129
150
188
135
101
61
49
69
137
139
150
178
140
103
76
195
71
146
122
98
163
146
100
62
57
73
142
130
98
162
146
109
79
195
72
150
128
105
134
141
108
94
212
70
143
130
105
137
141
123
105
213
70
145
143
163
183
145
113
86
277
69
144
141
163
185
139
129
96
213
69
143
144
153
183
156
147
74
296
66
144
139
153
187
150
144
86
191
66
140
143
144
177
165
189
66
296
63
142
138
144
183
165
158
86
185
64
141
146
153
187
171
156
76
273
67
146
142
153
194
162
144
80
182
66
145
150
149
190
164
142
113
273
70
156
139
149
192
152
127
85
182
66
144
151
147
190
158
150
143
240
71
159
140
147
194
149
150
93
178
68
145
141
138
198
141
152
114
196
68
149
137
138
198
144
155
90
178
66
144
128
131
201
123
138
82
62
60
139
137
131
192
139
147
85
201
62
148
120
130
198
116
125
76
44
57
129
131
130
189
129
125
79
175
60
141
12, 013
3,600
934
8,747
2,888
5,468
6,657
1,817
132
13, 030
4,922
7,586
35, 244
2,585
27, 938
7,783
2,974
4,374
104, 170
3,459
95, 106
2,330
1,079
1,058
14, 515
5,824
109
13, 282
1,133
11, 500
15, 633
9,938
14
t 15,350
2,002
12, 637
16, 942
1,736
11, 539
14, 108
5,020
8,279
5,392
486
47
19, 095
5,210
12, 985
4,285
385
56
16, 992
6,262
9,891
1,792
74
253
20, 885
10, 804
8,908
4,473
161
653
11, 339
7,254
3,469
11,573
1,902
4,781
1,561
791
670
31,831
6,031
16, 221
657
212
429
750, 735
613, 361
80, 897
615, 856
715,891
589, 894
72, 065
586, 356
776, 616
642, 346
74, 398
618, 759
728, 969
601, 376
69, 490
585, 625
796, 403
666, 984
71, 786
616, 231
838, 106
690, 838
84, 251
626, 080
841, 994
685, 426
95, 094
626, 159
868,089
711, 360
92, 511
637, 362
844, 774
696, 795
83, 603
620. 993
878, 121
738, 588
75, 316
651, 909
825, 326
691, 177
74, 220
637, 472
806, 554
648, 028
90, 671
648, 742
93, 582
41,297
18, 707
90,110
39, 425
17, 798
97, 132
60, 724
35, 447
90, 239
53, 104
26, 916
89, 993
90, 178
63, 715
87, 047
124, 979
94, 071
110, 578
105, 257
76, 474
115, 033
115, 695
85, 510
112, 932
110, 849
82,657
115, 335
110, 877
84, 486
103, 788
84, 066
61, 760
93, 150
64, 662
49, 890
766.6
624.1
84.7
707.0
59.6
27.8
781.1
644.2
77.4
710.5
70.6
38.3
760.8
623.3
75.5
705.4
55.4
22.2
726.1
593.6
72.1
684.4
41.7
8.8
794.7
665.0
72.8
701.0
93.7
61.8
855.6
710.3
81.6
719.0
136.6
102.5
818.6
669.8
87.5
726.8
91.7
57.4
842.4
695.2
82.8
743.6
98.7
65.3
836.0
688.1
84.2
737.4
98.6
64.9
845.0
707.8
77.2
755.9
89.1
56.3
832.9
695.9
77.8
751.7
81.2
r
48.6
810.6
659.4
89.2
738.6
72.1
39.5
55, 125
1.197
3,654
53, 579
1.176
3,198
52, 466
1.300
3,271
49, 902
1.284
3,043
60, 250
1.183
3,151
58, 231
1.262
3,660
57, 995
1.261
4,094
61, 253
1.231
3,961
58, 815
1. 256
3,521
62,900
1.248
3,101
56, 162
1.300
2,990
52, 541
1.312
3,538
6,400
2,774
3,625
6,446
2,815
3,631
7,002
2,998
4,005
6,826
3,106
3,720
8,167
4,063
4,099
8,765
4,461
4,304
9,004
4,407
4,507
8,773
4,478
4,294
7,554
4, 059
3,495
7,638
4,083
3,554
6,307
3, 232
3,075
6,567
3,101
3,466
1,935
1,111
2,098
1,092
2,143
1,165
2,064
1,184
1,990
964
2,125
1,044
1,940
1,117
2,021
1,167
1,954
1,075
1,642
751
1,764
687
1,827
909
2,341
1,179
5.06
86
227
5.03
88
211
4.81
89
206
5.35
89
245
4.91
89
246
5.27
89
248
5.12
83
227
5.62
88
236
5.53
90
240
5.60
89
224
5.70
84
225
5.25
73
204
5.41
83
222
38, 380
36, 581
1,300
14, 126
14, 833
176
46, 695
42, 690
1,193
14, 272
17, 915
208
47, 587
44, 722
1,556
14, 567
26, 883
258
41, 823
40, 574
1,750
14, 211
25, 110
351
37, 517
41, 271
1,395
12, 742
27, 304
689
45, 627
59, 432
1, 707
12, 345
30, 372
1,454
21, 699
2,613
16, 168
2,800
13, 892
1,371
12, 456
616
11, 134
215
12, 669
150
16, 744
155
1,202
10, 610
1,048
9,328
1,045
9,364
975
8,676
935
8,254
1,040
9,516
1,028
9,334
1,016
9,128
1,020
9,240
1,008
9,183
922
8,396
229, 797
129, 809
81, 821
182, 116
21, 611
32, 385
225, 584
128, 440
78, 490
174, 364
23, 956
32, 628
237, 939
132, 124
87, 003
187, 252
23, 800
32, 934
235, 094
132, 437
83, 653
183, 836
24, 130
33, 186
238, 347
133, 426
85, 348
185, 762
25, 250
33, 499
241, 148
135, 379
85, 868
189. 214
24, 702
33, 769
240, 002
133, 533
86, 248
193, 785
21, 180
34, 009
243, 779
134, 254
88, 964
192, 228
24, 327
34,286
244, 659
136, 663
87, 153
193, 927
23, 739
34, 518
248, 456
139, 384
89, 102
193, 407
26, 759
34, 760
248, 576
141, 178
87, 056
199, 356
24, 210
35, 044
15, 192
14, 508
4 $09
14, 084
13, 210
483
16, 055
14, 190
900
15, 014
14, 224
4186
15, 482
14, 610
4108
16, 508
14, 759
741
15, 107
15, 091
4759
15, 403
14,490
50
15,290
14, 313
164
14, 842
14, 187
*6S
14, 493
14, 069
4298
15, 959
17, 154
41,989
1,773
1,538
57
1,629
1,567
1,885
1,843
4102
2,089
1,787
92
2,012
1,758
60
2,065
1,702
170
2,005
1,842
1
1,980
1,724
39
2,076
1,724
157
2,057
1,734
132
1,942
1,709
40
2,362
1,837
315
1,854
1,812
419
1,760
1,765
47S
1,817
1,896
4140
1,807
1,779
*4&
1,846
1,857
487
1,931
1,832
12
1,869
1,849
'64
1,797
1,819
*98
1,838
1,780
die
1,849
1,791
*29
1,848
1,850
468
2,121
2,020
47
Waterway Traffic
Clearances, vessels in foreign trade:
Total, U. S. ports
thous. net tons__
Foreign. _
do
United States
do
Panama Canal:
Total
.thous. of long tons
In United States vessels
do
Travel
Hotels:
Average sale per occupied room
dollars
Rooms occupied
percent of total
Restaurant sales index, same month. __ 1929 =100-.
Foreign travel:
U. S. citizens, arrivals
number
U. S. citizens, departures
do
Emigrants
do
Immigrants
do
Passports issued
do
National parks, visitors
thousands. .
Pullman Co.:
Revenue passenger-miles
millions
Passenger revenues
thous of dol
COMMUNICATION S
Telephone carriers^
Operating revenues
thous of dol
Station revenues
do
Tolls, message
__ _
do
Operating expenses
do
Net operating income
do
Phones in service, end of month
thousands
Telegraph, cable, and radiotelegraph carriers:
Wire-telegraph:
Operating revenues
thous of dol
Operating expenses, incl. depreciation
do
Net operating revenues
do
Ocean-cable:
Operating revenues
do
Operating expenses, incl. depreciation
do
Net operating revenues
do
Radiotelegraph:
Operating revenues
do
Operating expenses, incl. depreciation
do
Net operating revenues
do
r
4 us
Revised. 4 Deficit.
§ Data have been revised beginning July 1947 to exclude covered hoppers; prior to that month covered hoppers were not shown separately from other hoppers and are included in the figures
for total coal cars.
t Data relate to Continental United States. JRevised data for December 1947, $72,783,000.
SURVEY OF CUEilENT BUSINESS
S-24
Unless otherwise stated, statistics through
1946 and descriptive notes may be found in
the 1947 Supplement to the Survey
March 1949
1949
1948
January
February
March
April
May
July
June
August
September
October
November
December
January
93, 923
0)
55, 347
99, 303
57, 971
99, 059
0)
61,918
CHEMICALS AND ALLIED PRODUCTS
CHEMICALS
Inorganic chemicals, production:
Ammonia, synthetic anhydrous (commercial)
short tons__
Calcium arsenate (commercial)
thous. of lb__
Calcium carbide (commercial)
._ short tons..
Carbon dioxide, liquid, gas, and solid
thous. oflb__
Chlorine
-- short tons..
Hydrochloric acid (100% HC1)
do
Lead arsenate (acid and basic)
thous. of lb_.
Nitric acid (100% HNO3)
short tons..
Oxygen
mil. cu. ft
Phosphoric acid (50% HsPOi)
• short tons
Soda ash, ammonia-soda process (98-100% Na2
Cos)
_
_short tons..
Sodium bichromate and chromate
do
Sodium hydroxide (100% NaOH). .
do _.
Sodium silicate, soluble silicate glass (anhydrous)
_
short tons _
Sodium sulfate, Glauber's salt and crude salt
cake
short tons
Sulphuric acid (100% H2SO4):
Production
short tons _
Price, wholesale, 66°, tanks, at works
dol. per short ton__
Organic chemicals:
Acetic acid (synthetic and natural), production
thous. of lb_
Acetic anhydride, production
do
Acetyl salicylic acid (aspirin), production. _ do
Alcohol, denatured:
Production
_ _ thous. of wine gal__
Consumption (withdrawals)
do
Stocks
_
do
Alcohol, ethyl:
Production
thous. of proof gal__
Stocks total
do
In industrial afcohol bonded warehouses-do
In denaturing plants
do
Withdrawn for denaturing..
do_ __
Withdrawn tax-paid
do
Creosote oil, production
thous. of gal__
Ethyl acetate '(85%), production
thous. of lb__
Glycerin, refined (100 % basis):
High gravity and yellow distilled:
Production
thous. of Ib _
Consumption
__
do
Stocks
do _ _
Chemically pure:
Production
_ do
Consumption
do
Stocks
do
Methanol, production:
Natural (100%)
.
thous. of gal__
Synthetic (100%)
do
Phthalic anhydride, production
thous. of lb__
95, 405
2,003
58, 091
90, 550
2,433
55,006
100,142
3,379
61, 489
92, 640
3,910
57, 649
82, 408
3,399
59, 009
81, 364
5,488
54, 585
89, 642
3,273
53, 375
85, 556
899
57, 443
86,062
0)
55, 164
92, 791
0)
57, 805
57, 125
123, 319
39, 089
3,229
103, 834
1,271
95, 331
59, 304
116,143
33, 940
3,697
100, 546
1,258
90, 601
70, 590
132, 668
36, 579
3,654
101,041
1,361
105, 097
83,260
126, 992
36, 306
3,814
94, 904
1,362
97, 510
96, 217
130, 926
38, 349
3,127
86, 487
1,370
98, 565
103, 850
133, 231
34, 930
2,097
81, 888
1,288
95, 396
118, 787
129, 445
32, 862
506
92, 594
1, 205
96, 864
120, 884
142, 412
35, 782
0)
90, 318
1,328
102, 961
101, 358
136, 382
37 825
0)
95, 570
1,279
106 304
71,125
147, 593
39, 863
0)
99, 190
1,431
113, 726
60, 734
147, 451
38, 889
0)
91, 348
1,386
104 433 r
59, 668
154, 469
39 237
r
1, 648
95, 099
1 409
109 149
60,371
152, 838
39, 370
3,866
97, 854
1,403112, 969
383, 481
7,664
182, 778
360, 437
7,106
173, 693
404, 525
7,971
198, 658
357, 752
8,184
186, 300
360, 110
7,962
186, 265-
347, 656
7,916
190, 576
398, 871
7,850
194, 012
394, 215
7,783
203, 274
357, 618
8 200
196. 163
406, 603
8,734
211, 836
398,158
8,277
212, 494
406, 026
8 328
221, 479
372, 224
8 913
209, 891
37, 529
44, 090
54, 702
38, 773
33, 588
39,093
38,230
36, 085
38, 232
38, 617
46, 868
38, 049
35, 914
70, 456
64, 182
69, 688
70, 928
73, 510
65, 602
64, 083
67, 293
71, 926
76, 811
73, 721
71, 868
72, 422
932, 933
893, 440
956, 957
904, 562
931, 788
838, 982
838, 317
901, 994
866, 168
950, 801
944, 268
989 887
964,506
15.00
15.00
15.00
*
15.00
15.00
15.00
15.00
15.00
15.00
17.00
17.00
17.00
17.00
34, 189
62, 700
979
32, 624
58, 184
985
34, 605
64, 849
1,054
33, 244
60, 103
1,061
39, 091
64, 641
38, 041
57, 784
37,745
63, 246
31, 626
63, 004
905
35, 437
69, 240
1,043
38, 322
69, 857
1,079
41, 238
73, 450
1,088
43, 496
67 941
1 113
12, 576
12. 432
1,851
11,051
11, 243
1,653
13, 016
13, 046
1,613
13, 311
13, 206
1,712
13, 754
14,211
1,245
12, 973
13, 138
1,073
12, 534
12, 492
1,110
14, 289
14, 124
1,282
15, 636
15 573
1,344
15, 962
15, 457
1,982
16,013
16, 185
1,816
15 765
15 266
2 190
12, 855
12 939
2,136
17,396
21, 248
20, 738
510
23, 098
2,581
12, 835
5,261
20, 951
23, 886
22, 654
1,232
21, 151
2,678
11,925
5,712
29, 265
29, 808
29, 413
395
23, 213
3,237
12, 179
5,850
27, 389
31, 601
31, 032
569
24, 899
2,827
12, 884
5,422
29, 852
34, 874
34, 353
521
25, 426
2,838
11, 590
5,788
27, 668
38, 273
37, 699
574
23, 445
2,933
10, 654
5,763
23,833
38, 487
38, 114
373
22, 997
3,024
11, 345
4,972
25, 790
36, 098
35, 654
444
26, 626
3,432
11, 930
5,457
27, 972
31 725
31, 313
412
28 671
3 809
12, 483
4,830
29, 827
29 592
28, 738
853
30, 116
4 702
11,756
5,008
33, 609
31, 999
31, 496
503
29, 217
5,114
13, 436
4,904
30 779
34 917
34, 317
601
29 522
3 159
12 591
8 279
26, 573
37 154
36, 587
567
23,761
2 988
8,701
7,426
17, 396
7,947
7,098
17, 974
7,699
7,272
18, 197
6,715
7,456
16, 744
6,383
7,379
15, 221
8,772
7,896
18, 027
4, 778
6,953
15, 257
7,045
7,261
14, 980
6 886
7,547
13 795
6, 551
7,290
13 376
7,069
6,980
13, 538
7 203
6 652
13 692
10, 437
8,049
18, 306
10, 294
7,376
19, 013
11,350
7,845
21, 866
8,293
7,116
21,923
7,704
6,776
21, 384
9,050
6,730
22, 355
5,557
5,992
21, 057
8,991
7 471
20, 701
9 484
7 432
20 420
9,530
7 780
20, 586
9,240
7 544
18, 640
10 600
7 551
20 565
219
8,806
12, 433
198
9,161
12,048
204
212
203
190
10, 944
14, 082
10, 489
13, 072
12,771
13, 632
12, 880
11, 606
191
186
16 396
13,254
192
16 342
15, 921
181
15 950
15, 873
1,440
»• 1, 140
Consumption, totalf
thous. of short tons__
' 1, 430
188
'260
»-178
Midwest Statesf
do
1,252
962
1,170
Southern Statesf
do
209, 169
152, 851
318, 694
Exports, total §
short tons
169, 457
88, 927
14, 306
Nitrogenous materials§
do
102, 243
128, 272
116, 204
Phosphate materials!
do
10, 030
8,000
Potash materials§
__do__ _
10, 735
147, 828
115,322
158, 626
Imports, total
do
126, 802
103, 897
135, 258
Nitrogenous materials, total
do
78, 764
68, 081
99, 494
Nitrate of soda
do
436
318
10, 449
Phosphate materials
do
8,238
2,479
5,227
Potash materials
._
do
Price, wholesale, nrtrate of soda, crude, f. o. b. cars,
48.00
port warehouses
dol. per short ton..
48.00
48.00
99, 728
97, 029
91, 574
Potash deliveries
short tons
Superphosphate (bulk):
926, 323 883, 852 1,033,294
Production
do.
994, 464
1, 105, 813 1, 081, 544
Stocks end of month
do
1,085
643
118
525
382
99
283
12, 861
171, 981
31, 564
133, 078
5,524
163, 761
131, 798
89, 924
8,594
6,662
202, 191
34, 469
161, 829
3,797
104, 306
92, 041
68, 049
5,890
264 889
77, 029
181,354
5 467
78 688
72, 494
30, 339
243
359 713
54, 897
295, 984
8 109
12Q 587
121^ 746
64, 920
3,481
o
255 000
57 515
183 292
11 283
95 906
72, 270
34,050
10, 208
8 192
48.00
99 135
48.00
80 497
48.00
84 792
48.00
80 338
50.63
90 806
51.50
96 738
974, 420
965, 480
977, 100
1,131,883
559
649
249
214
13, 508
12, 133
190
14 261
11, 567
14 577
12, 288
r
198
FERTILIZERS
202
883
276, 845
68, 429
198, 169
8,563
145, 160
116, 875
76,232
301
2
r
356
189
168
o
r
343
r 143
••582
200
399
r 184
r
529
552
112
455
440
230 088 r 207 704
79 641
91 321
131,712 r 100 172
10 540
9 845
66 405
87 081
51,974
74, 175
19, 357
41, 840
3,487
4 856
o
4 914
r 74
51.50
94 312
51.50
102 160
r
768
260
509
200 858
93 869
82 149
12 283
116 635
93', 869
49 913
9 774
' 241
1 293
1 030
263
51.50
iQ3 032
54.50
98 968
825, 549
741 993
801 926
828 646
839 890
853 461 r 822 517 839 430
1,314 000 1 421 300 1 418* 921 1 382 289 1 333 435 1 357 931 1 407 694 1 392 907
NAVAL STORES
Rosin (gum and wood):
Production.
_ __ drums (520 Ib.) _
Stocks, end of quarter...
do
Price, gum, wholesale, "H" grade (Sav.), bulk
dol. per 100 lb_.
Turpentine (gum and wood) :
Production
bbl. (50 gal.)._
Stocks, end of quarter
do __
Price, gum, wholesale (Savannah) ... dol. per gal__
382, 720
277, 980
8.83
.63
8.55
7.19
.63
115, 460
195, 350
.64
566 300
401, 170
7.00
.62
6.80
7.52
.58
183,240
200, 990
.42
607 805
576 530
7.29
.39
7.28
7.41
.38
197, 640
228 600
.38
539 310
670 550
7.62
.39
7.73
7.69
7.66
.39
163 400
262 670
.37
.37
MISCELLANEOUS
Explosives (industrial), shipments:
3,653
Black blasting powder
^
thous. of lb__
3,049
2,739
2,415
3,336
2,886
2,168
2,836
2,626
2,581
2,548
2,405
2,953
45, 366
High explosives
_ . __
do
45, 799
45, 302
46, 406
58, 026
60, 271
54, 684
60 929
58 124
56 497
53 175
47 704
43 832
Bone black: cf
Production
_
short tons__
1,033
1,017
1,010
519
520
607
1,474
1,696
2,004
Stocks..i
_
do
1,877
1,650
1,526
r
Revised.
* Not available for publication.
cfSeries discontinued by the Bureau of the Census.
t Revised series. Data for fertilizer consumption by midwestern States and the total were re vised in the March 1948 Survey to exclude Illinois which has discontinued tag sales; data for
consumption by southern States and the total have been revised beginning in the November 1948 Survey to exclude Louisiana which has discontinued tag sales. Revised data prior to'September 1947 for the total and midwestern States, and prior to 1947 for the southern States will be shown later.
§ Beginning in the April 1948 Survey export figures include Army civilian supply shipments; see note marked "J" on p. S-21.
SURVEY OF CUEEENT BUSINESS
March 1949
Unless otherwise stated, statistics through
1946 and descriptive notes may be found in
the 1947 Supplement to the Survey
S-25
1949
1948
January
February
March
April
May
June
August
July
September
October
November
December
January
CHEMICALS AND ALLIED PRODUCTS—Continued
MISCELLANEOUS— Continued
Gelatin :<?
Production, total. _
Edible
Stocks, total
Edible
Glue, animal :cf
Production
Stocks
Sulfur:
Production.
Stocks
_
.
_
thous. of lb__
do
do
_
do
4,639
3,222
6,387
3,034
4,659
3,425
6,558
3,144
4,336
3,034
7,000
3,464
4,009
2,883
6,889
3,392
4,504
3,103
7,268
3,713
4,584
3,437
7,462
4,060
do_ __
do
14, 229
10, 605
13, 131
10, 828
11, 795
10, 957
12, 165
12, 062
11, 503
12, 960
11, 771
14, 823
long tons
412, 680
438, 527
392, 991
388, 332
409, 610
423, 233
409, 530
391, 214
402, 832
400, 657
406 220
416 678
393 385
. do __ 3, 373, 422 3, 348, 462 3, 368, 064 3, 338, 345 3, 297, 705 3, 303, 984 3, 340, 019 3, 310, 593 3, 313, 777 3 292 826 3, 226, 170 3, 225, 014 3, 274, 313
OIL SEEDS, OILS, FATS, AND
BYPRODUCTS
Animal fats, greases, and oils:
Animal fats:
Production
. _ _ .-thous. of lb__ 302, 208
Consumption, factory.
do
135 260
Stocks, end of month
_.
__do_ _. 350, 058
Greases:
Production.
_ _
do __
52, 331
Consumption, factory.
do
55, 351
Stocks, end of month _ _
do
119 272
Fish oils:
Production. _ . _
do
1 024
Consumption, factory
do
23 980
Stocks, end of month.
_._do
85, 778
Vegetable oils, oilseeds, and byproducts:
Vegetable oils, total:
Production, crude
mil. oflb__
513
Consumption, crude, factory.
__.do
458
Stocks, end of month:
Crude
do
539
Retfined
_ do
247
Exports§
thous. of lb_.
35, 737
Imports, total
do
34 628
Paint oils..
...
do
11, 651
All other vegetable oils
_ do
22 977
Copra:
Consumption, factory ..
short tons
61 796
Stocks, end of month
do. .
37 259
Imports , _
_ _ _ _
do
56 167
Coconut or copra oil:
Production:
Crude.
thous. of lb_.
81, 371
Refined..
do
37, 233
Consumption, factory:
Crude
_
...do
85, 370
Refined....
_
do
29 315
Stocks, end of month:
Crude..
do
75, 584
Refined
do. _
12, 616
Imports
do
11, 593
Cottonseed:
Receipts at mills
thous. of short tons..
212
Consumption (crush)
do
522
Stocks at mills, end of month
do
1,116
Cottonseed cake and meal:
Production
short tons241, 668
Stocks at mills, end of month
do
71,207
Cottonseed oil, crude:
Production
thous. of lb_. 163, 998
Stocks, end of month
_
.do.
121, 742
Cottonseed oil, refined:
Production^..
do
140, 848
Consumption, factory
do...
126,686
In oleomargarine
.do
46, 718
Stocks, end of month
do . 152, 706
Price, wholesale, summer, yellow, prime (N. Y.)
dol.perlb..299
Flaxseed:
Production (crop estimate)
..thous. of bu
Duluth:
Receipts
do
165
Shipments
do
183
Stocks, end of month.
do
728
Minneapolis:
Receipts
.
do
1 224
Shipments
*
do
257
Stocks, end of month
.
do
5, 1H
Oil mills:
Consumption
do...
2,930
Stocks, end of month
do
6,290
Imports-. _ .-_ - .
do
5
Price, wholesale, No. 1 (Minn.)
dol. per bu_.
7.06
Linseed cake and meal:
Shipments from Minneapolis
thous. of lb_ . 50,460
Linseed oil:
Production.
do
57, 465
Shipments from Minneapolis. .
do
29 940
Consumption, factory
do
39, 008
Stocks at factory, end of month
do
135, 394
Price, wholesale (N. Y,)
dol. perlb..
.338
Soybeans:
Production (crop estimate)
thous. of bu
Consumption, factory
do
16, 481
Stocks, end of month
do ._
47,824
258, 924
118, 795
369, 460
222, 845
116, 571
369, 989
222, 070
107, 826
396, 045
238, 278
116, 137
414, 980
267, 662
122, 370
431,815
215, 921
84 640
449, 291
189, 987
113, 254
376, 852
185. 865
113 369
326, 165
221 253
122 063
288 614
298, 192
119, 816
310, 920
340, 957
117, 992
401, 973
46, 815
53, 195
122, 608
45, 153
56,212
129, 645
45, 543
51, 525
126, 831
47, 147
46, 433
124, 582
51, 411
51, 931
129, 997
48, 097
30,009
149, 604
43 323
47, 211
142 626
42, 192
50, 474
129 354
47 344
51 547
1 1 Q ^M
50,619
47,116
112,915
53, 491
49, 727
100, 808
697
20,178
69, 069
766
19, 095
61, 021
1 000
15, 721
55, 000
4,296
16, 993
60, 879
13 345
17, 776
66, 479
17,112
13, 979
78, 276
°3 379
18, 569
89, 878
22 332
18, 946
93, 2?9
11 344
20 225
97 756
6,529
17, 979
115, 792
5,663
16, 209
134, 501
441
410
408
425
352
385
331
351
316
354
310
281
307
322
409
367
498
440
532
449
532
458
598
264
14, 198
40, 402
21,847
18, 555
592
305
21, 199
32, 646
10, 270
22, 376
555
292
16, 319
29 596
10, 531
19 065
526
252
25, 554
30 256
9,266
20 991
465
227
19, 750
25 708
9 697
16 Oil
474
201
14, 204
25, 931
15, 888
10 043
447
149
11,831
23 799
7,390
16 409
463
130
7,793
32 184
14 429
17 756
coo
1 ^9
10 603
614
211
9,648
31, 329
7,946
23, 382
699
279
19, 516
61 350
16 855
44 495
53, 135
35, 392
55, 546
50, 194
36, 471
51, 513
40 136
28, 825
34 349
35 102
22, 659
27 644
31 797
21 868
40 991
23, 530
25,145
24, 916
32 503
16 638
41 894
23 553
16, 581
17 757
H
ftA/1
27, 377
5, 265
19, 557
33 343
26 359
58 361
67, 737
28, 361
64, 280
31, 502
51, 137
27, 771
45, 362
26, 935
40, 456
29,812
29, 945
21,890
41, 408
28 744
30, 003
24,611
27 554
35, 185
19, 488
42, 657
21 203
68, 333
24,666
69, 523
23, 342
54, 484
22, 985
54, 088
23 575
57, 539
26 332
40, 259
16, 255
54, 944
23 916
50,150
21 118
47 ftQ8
43, 827
21,288
47 369
21 842
86, 546
10, 500
3,848
96, 226
11, 837
9,598
98, 7.73
12, 120
7,694
101, 254
14, 214
6,428
85, 804
12 274
6,528
78, 048
11,561
2,991
70, 315
11 164
5,419
54, 892
10, 899
7,024
39 135
44,208
8,807
14,475
52, 180
8 976
24 930
74
412
778
51
326
503
24
205
322
14
147
188
22
115
96
95
65
93
373
173
289
1, 231
534
985
1 593
1 871
975
711
2,129
607
671
2,065
191, 325
85, 139
154, 388
86, 060
95, 374
92, 080
67, 944
100, 037
54 105
94, 516
50,154
83, 406
80, 566
74, 554
241, 993
75, 250
Q1 o ono
8fl 94fi
322, 572
78, 427
301 245
81 515
130, 270
117, 424
105, 162
87, 096
67, 539
58, 472
47, 743
43, 054
38, 023
32 616
32, 145
22, 834
52, 130
25 601
166, 148
63 285
223 733
07 770
224, 476
141,085
212 211
157 722
124, 877
106, 611
42, 779
158, 523
123, 628
105, 985
38, 728
182, 206
60, 821
96, 604
36, 180
168, 750
60, 035
91, 090
40, 195
126, 912
47 952
68 170
32, 114
111 689
35, 627
46, 449
20, 314
' 97,549
43 586
76 475
30, 955
60 695
111 259
103 281
39, 476
59 241
1 9.8 898
AK fiO7
QO flKQ
167,559
122, 772
40, 976
120, 774
182
117
38
168
.246
.261
.305
.371
.356
.290
.211
.231
.215
.221
91 Q^Q
91 ^fi
90 009
n
87fi
S
KftQ
7O7
495
056
569
081
.199
.174
i 52 533
66
794
o
50
1
843
53
189
707
45
69
683
80
459
304
216
294
225
242
310
157
5 233
1 253
4 137
4 7KQ
3 -10O
5 7fio
723
318
4,263
530
298
3 099
653
199
2 500
870
308
1 888
1 178
162
967
1 384
196
636
8 357
1 420
15 101
2 ({KA
9 748
1,875
2,595
5,800
6
6.51
2,309
4,879
2
6.19
2 442
3,843
1
6.04
2 737
3,234
477
6.09
3 156
4 185
105
6.09
3 798
6,112
332
6.08
3 577
6* 746
95
6.00
3 675
8 492
25
6.00
3 098
8* 538
49, 740
47, 280
47, 580
44, 520
48, 120
42,000
48, 840
51, 663
28 020
38, 987
141, 504
.306
46 264
29 760
40, 871
135, 741
.292
48 974
37 440
40, 292
134, 511
.290
54 170
33 720
40 754
131, 442
.290
63 142
33 540
44 330
137, 132
.294
76 965
32 460
39 275
150, 118
.291
72 234
33 300
42 671
165, 273
.290
14. 962
43, 596
14, 762
14, 185
13, 247
12, 681
12, 571
10, 742
33,608
36, 857
27, 447
23, 042
15,821
7,867
Revised. <
i December 1 estimate.
rf
Series discontinued by the Bureau of the Census.
§ Beginning in the April 1948 Survey, export figures include Army civilian supply shipments; see note marked "J" on p. S-1-21.
r
dC\ Qfi7
1 Q AOQ
1 350
3 717
3 396
365
1 471
2 289
79
1 625
1 4Q1
12 990
11 957
6.00^
2 981
7 076
5
6.01
3 178
6 477
12
6.00
6.00
66, 540
61, 560
52, 140
53, 280
48, 240
73 427
35 160
42 535
180, 175
.290
60 973
29 520
39 347
190, 988
.293
58 111
CO f*AK
31 707
210, 894
.292
31 331
226, 403
.290
10, 276
5,417
13, 849
48, 781
-I
01 I
9fi ^40
i 220 201
16,154
16, 674
58,392
53,414
304
25, 560
.288
SURVEY OF CUKKENT BUSINESS
S-26
March 1949
1948
Unless otherwise stated, statistics through
1946 and descriptive notes may be found in
the 1947 Supplement to the Survey
January
February
March
April
May
June
1949
July
August
Septem-
October
November
December
January
CHEMICALS AND ALLIED PRODUCTS—Continued
OIL SEEDS, OILS, FATS, ETC.— Continued
Vegetable oils, oilseeds, etc. — Continued
Soybean oil:
Production:
Crude .
. . . thous. of lb_.
Kefined
do -_
Consumption factory refined
do
Stocks, end of month:
Crude
- do
Refined
- - do
Price, wholesale, edible (N. Y.)
dol. per lb_.
Oleomargarine:
Production
_thous.oflb__
Consumption (tax -paid withdrawals) __ do
Price, wholesale, vegetable, delivered, (Chicago)
dol. per lb_.
Shortenings and compounds:
Production
thous. of lb__
Stocks end of month
do
152, 966
110, 912
110, 777
139, 900
99, 320
94, 091
139, 370
108, 829
100, 295
133, 994
116,152
114,035
128, 596
112, 696
122, 268
123, 931
112, 433
115,310
122, 791
84, 615
80,426
105, 282
108, 965
111, 700
104,230
92, 790
105, 619
136, 864
91, 632
95 915
154, 757
116, 910
98 468
160, 055
110, 908
97 934
86, 703
63, 850
.326
104, 788
71, 561
.262
114, 745
84, 848
.269
98, 493
89, 797
.298
86. 971
87, 992
.322
65, 36Q
80, 229
.330
77, 615
70,635
.292
54, 843
63,756
.278
44,921
51, 294
.294
62, 351
48, 725
.259
77,432
69, 216
.250
101, 075
86, 576
.237
87, 934
87, 252
80, 418
72, 986
71,817
74, 314
74, 079
75, 063
83, 892
79, 959
75, 859
69, 403
52, 554
55, 855
73, 335
72, 858
80, 434
75,852
79, 626
78, 319
72 377
72,997
74 308
69, 918
.343
.343
.343
.348
.363
.363
.363
.351
.343
.323
.315
.303
336, 936
54, 493
101,120
64, 144
109, 013
59, 550
128. 033
51, 396
124, 142
56, 751
120, 804
75, 915
79, 577
72,513
113, 663
62, 015
123, 615
50,428
125, 517
53, 137
134, 629
52 508
129 341
66 390
88, 015
78, 778
31, 743
47, 035
9,237
78, 933
71, 256
30, 159
41, 097
7,677
91, 685
82, 403
35, 328
47, 074
9,283
96. 961
87, 715
33, 846
53, 868
9,246
99, 079
89, 534
31, 909
57, 626
9,545
103, 706
93,395
34, 569
58,826
10, 311
88, 966
80, 408
31, 007
49, 401
8,558'
94, 364
86,002
34 706
51, 296
8,362
91,482
81, 842
34, 464
47, 378
9,640
81, 781
74, 070
31 600
42. 470
7,711
71, 778
65, 116
29 864
r 35, 252
••6,662
65, 874
59, 436
28 807
30,630
6,438
1,285
4,461
865
747
28, 749
10, 226
6,824
39,554
7,677
1,321
3.733
930
652
26, 701
8,382
6,772
17, 634
7,800
1,354
3,960
999
769
30, 594
12,718
7,116
19, 037
8,639
1,568
3,877
1,071
974
26, 356
12, 189
6,561
19, 198
8, 219
1,458
3,630
866
1,024
20, 716
10, 777
0)
15, 946
8,490
1,066
3,434
794
(i)
20, 337
11, 798
0)
15, 188
9,008
.209
.283
PAINT SALES
Paint, varnish, lacquer, and fillers, total®
thous. of dol__
Classified, total
do
Industrial
do
Trade
do
Unclassified .
-_
do
r
r
r
PLASTICS AND SYNTHETIC RESINS
Shipments and consumption d"
Cellulose acetate and mixed ester plastics:
Sheets rods and tubes
thous. of Ib
Molding and extrusion materials
do
Nitrocellulose sheets, rods, and tubes
. do
Other cellulose plastics
do _
Phenolic and other tar ncid resins
do
Polystyrene
do
Urea and melamine resins
. _.
do
Vinyl resins
_-do
Miscellaneous resins
_
_ do.
ELECTRIC POWER AND GAS
ELECTRIC POWER
Production (utility and industrial), total %
mil. of kw.-hr__
28,443
23, 958
Flectric utilities total t
..do17, 514
By fuels J
-do
6, 444
By water power i
_-do
Privately and municipally owned utilities J
mil. of kw.-hr__
20, 649
3,309
Other producers t
__do
4,485
Industrial establishments J
do
4,119
By fuels |
do
366
By water power 4 .
..do
Sales to ultimate customers, total (Edison Electric
Institute)
mil. of kw.-hr.. 20,267
Commercial and industrial:
3,570
Small light and power -- do
9,990
Large light and power
- -- _ .-do
685
Railways and railroads ._ _
do_-__
4,777
Residential or domestic
__do_. 384
Rural (distinct rural rates)
do
Street and highway lighting _ _ _ _ _ . _ do
248
548
Other public authorities
-. do
66
Interdepartmental
-do
Revenue from sales to ultimate customers (Edison
Electric Institute)
thous. of dol_- 362, 163
26, 465
22, 194
15, 821
6,373
27, 966
23, 478
16,005
7,473
26, 569
22, 296
14, 416
7,881
27, 035
22, 609
14, 925
7,684
27,161
22, 705
15, 769
6,937
27, 673
23, 282
16, 430
6,852
28,759
24,229
17, 494
6,735
28,081
23,635
17, 595
6,040
29,006
24, 351
18, 386
5,966
28, 748
24 169
17, 588
6 581
30,431
25 688
18 221
7 467
30,374
25 570
17, 803
7 767
18, 996
3,198
4,271
3,902
369
20, 015
3,463
4,488
4,061
427
18,802
3,494
4,272
3,807
466
19, 122
3,487
4,427
3,971
455
19, 446
3, 259
4,456
4,034
422
19,715
3,567
4,391
4,061
330
20,631
3,597
4,530
4,188
342
20,167
3,468
4,446
4,158
288
20,974
3,377
4 654
4,362
292
20, 802
3 367
4 579
4,' 247
332
21,963
3 725
4 743
4,321
422
21,838
3,733
4 804
4,355
449
19,904
19,969
19, 400
19,163
19, 297
19, 367
20, 180
20,539
20,511
20, 678
3,518
9,897
613
4,633
429
219
534
59
3,497
10, 197
623
4,391
458
214
531
59
3,450
10, 014
560
4,159
463
188
509
57
3,382
10, 134
547
3,913
452
176
504
55
3,482
10, 261
514
3,815
510
164
499
53
3,653
10, 035
508
3,823
637
170
489
53
3,728
10, 648
605
3, 824
732
189
502
52
3,805
10,721
492
4,018
733
206
515
50
3,634
10, 796
530
4, 172
570
233
526
50
3,651
10, 673
532
4 495
487
251
540
48
357, 698
354, 600
346, 645
341, 687
344, 779
348, 136
356, 619
366, 155
367, 712
375 038
GAS
Manufactured and mixed gas (quarterly):
Customers end of Quarter, total
thousands
Residential (incl. house-heating)
do
Industrial and commercial
do
Sales to consumers, total
mil. of cu. ft__
Residential
do
Industrial and commercial _.
..do
Revenue from sales to consumers, total
thous. of dol_ _
Residential (incl. house-heating) . _ _
do
Industrial and commercial . ._
_.do.
Natural gas (quarterly) :
Customers, end of quarter, total-- -thousands
Residential (incl. house-heating)
do
Industrial and commfircfo.!
_dn
Sales to consumers, total .- . mil. of cu. ft
Residential (incl. house-heating)
, do
Industrial and commercial . _.
_ _ _do.
Revenue from sales to consumers, total
thous. of dol. _
Residential (incl house-heating)
do
Industrial and commercialdo
r
10, 768
10, 050
710
205, 843
143, 042
60, 926
10, 553
9,862
683
138,358
90,174
47, 076
10, 462
9,783
672
105, 321
63, 357
41, 124
176, 109
130, 434
44, 490
136, 644
100, 639
35, 203
112, 035
81,211
30, 164
10, 955
10, 129
818
839, 675
369, 264
441, 040
11,313
10, 505
799
653, 824
180,587
458, 268
11,406
10,601
796
579, 384
87, 248
464,957
324, 553
211, 399
108, 342
221, 318
117, 238
101, 472
171, 016
68,535
98, 181
7
Revised. * Not available for publication. ®Revised figures for January 1946-February 1947 are shown on p. 24 of the, October 194S Surrey.
J Minor revisions for January-October 1947 will be shown later, cf Series discontinued by the Bureau of the Census.
SUEVEY OF CUEEENT BUSINESS
March 1949
Unless otherwise stated, statistics through
1946 and descriptive notes may be found in
the 1947 Supplement to the Survey
S-27
1949
1948
January
February
March
April
May
June
August
July
September
October
November
December
January
FOODSTUFFS AND TOBACCO
ALCOHOLIC BEVERAGES
Fermented malt liquors:
6,392
Production
thous. of bbl
5,953
Tax -paid withdrawals
do
Stocks, end of month
do
9,167
Distilled spirits:
9,492
Production
_ thous. of tax gal. .
Consumption, apparent, for beverage purposes}: r
12, 934
thous. of wine gal
8,081
Tax-paid withdrawals
thous of tax gal
513, 899
Stocks, end of month
do
1,206
Imports
thous of proof gal
Whisky:
4,698
Production
_ _ _ _
thous. of tax gal 4,049
Tax-paid withdrawals
do
Stocks, end of month
__
do
455, 409
1,059
Imports
thous of proof gal
^Rectified spirits and wines, production, total
9,442
thous. of proof gal_Whisky
_ __
do
8>696
Wines and distilling materials:
Sparkling wines:
Production
thous of wine gal
101
'65
Tax -paid withdrawals
do
Stocks end of month
do
1,599
26
Imports
do
Still wines:
668
Production
do
9 469
Tax-paid withdrawals
do
195, 891
Stocks end of month
do
Imports
do
237
2, 563
Distilling materials produced at wineries do
6,255
5,475
9,667
7,030
6,740
9,635
7,381
6,977
9,733
7,276
6,763
9,955
8,492
8,198
9,888
8,917
8,827
9,611
8,682
8,396
9,488
7,886
7,991
9,062
6,693
6,366
9,064
6,173
6,666
8,278
6,807
6,567
8,213
6,040
5,589
8,410
21, 956
' 32, 817
28, 717
25, 953
22, 995
18, 779
15, 924
20,908
33, 337
37,037
28, 225
21,804
12, 871
8,938
523, 544
12, 139
6,667
545, 365
13. 129
7,271
564, 189
1, 099
12, 155
6,784
580, 824
12,235
6,731
602, 873
877
12, 377
7,532
607, 676
957
12, 620
6,295
594, 733
1,069
14, 791
9,304
610, 988
1,234
16, 499
11, 455
614, 840
1,380
18, 516
12, 154
621, 672
1,524
20, 175
7,378
635, 674
1,507
6,546
646,272
20, 863
20, 041
20, 638
3,304
3,618
3 575
479, 180 ' 495, 018 511, 232
14, 930
' 3, 127
522, 261
10, 960
3,231
528, 926
9,540
3,977
533, 292
820
11, 429
4,736
537, 441
1,113
12, 193
6,090
541, 715
1,247
14,026
6,602
547, 534
1,388
17, 532
3,965
559, 818
1, 329
14, 861
3,971
569, 734
8,254
7,320
8,194
7,362
9,299
8,503
10, 937
10, 130
13, 484
12, 515
14, 449
13, 376
9,739
8,792
7,398
6,613
980
13, 768
4,179
462, 061
892
9,211
8,526
78
54
943
866
996
863
8,429
7,661
8,666
7,928
8,143
7,302
144
57
166
50
71
62
1,613
1 685
1,792
1,791
25
22
495
799
8 804
186, 846
10 917
176 208
647
9,952
441
8,043
12
160
1,055
11
942
121
74
1,823
809
61
57
1,822
25
16
416
565
7,234
892
68
118
54
127
81
112
71
168
1,871
1,813
29
1,640
1,525
17
1,729
15, 366
10, 166
136, 806
63, 936
11,294
195, 069
48, 148
12, 255
233, 335
122
69
51
45
97
139, 827
2,610
189
995
141
2 248
183
2,088
769
8,248
131,895
204
1,342
2,519
32, 020
132, 715
95, 778
5,344
11,192
223, 774
294
12,924
90, 140
3,482
.802
100, 190
4,449
.828
133, 100
18,638
.801
138, 640
53,073
.803
126, 030
83, 105
.786
117, 265
97, 624
.756
96, 360
93, 850
.719
93, 330
83,412
.644
79, 190
60, 214
.629
' 83, 880
' 33, 615
.645
80, 590
58, 520
103, 350
88,737
1 591
95,860
73, 160
105, 263
91,907
2,012
128, 650
102, 020
123, 507
106, 712
2,010
131, 790
106, 040
165, 201
140, 038
2,106
115, 840
95. 020
197, 220
168, 809
1,491
106, 730
87, 300
217, 819
185, 324
1,210
.423
.443
.474
.489
.520
.493
.448
.420
.397
.410
.371
21, 275
11, 400
270, 800
28, 300
13, 700
335, 400
47, 300
13, 500
450, 200
48,230
12, 600
450, 000
40,250
11, 800
387, 200
28, 700
12, 600
360, 100
19,500
10, 300
282, 600
15,415
8,600
226, 250
13, 050
8,250
154, 900
12, 795
10,000
147, 000
15, 250
10,950
154, 100
8,622
63,117
8,777
80, 752
11, 619
177, 715
12, 615
337, 507
13, 165
444,015
14, 275
514, 094
15, 645
621, 948
13, 408
622, 624
14, 824
542, 810
12, 576
424, 619
9,504
297, 463
8 830
18 745
16 123
30, 555
10, 222
32, 766
12, 145
30, 416
10 886
21, 650
8,585
27, 780
6,342
33, 486
10, 455
19, 316
4,367
15,836
8,713
49,058
9.12
6.00
9.32
6.08
9.69
6.41
9.71
6.48
9.87
6.61
10.02
6.71
10.02
6.56
9.93
6.26
9.60
5.94
9.60
5.95
9.60
5.81
' 9, 190
3,384
5.09
r 9, 884
3,912
5.07
' 11, 702 ' 12, 176
5,344
5,226
5.04
5.03
'11,514
4,800
5.16
' 10, 511
4,444
5.29
' 9, 124
3,619
5.32
' 8, 748
3,336
5.30
' 8, 031
2,724
5.27
'
8, 215
r
2,866
5.25
8,671
3.147
5.16
12, 200
52, 650
15,070
64, 825
22, 950
90, 950
19, 600
91, 040
19, 675
70, 675
16, 845
52, 515
13,100
38, 020
11,515
36,790
7,350
35,450
9,165
49,700
11,400
54, 275
12, 325
31, 806
15, 535
40, 293
20, 107
62, 469
23,005
80,093
27 121
90, 638
29, 429
97, 774
29, 022
82, 346
30, 712
72, 823
26, 037
51,088
18, 491
44, 030
16, 098
49, 627
7,532
6, 810
6,304
5,383
13, 554
16, 336
9,572
12, 517
9,387
9 674
8,354
8,457
8,923
10, 587
7,061
16,406
' 6, 217
23, 901
11, 439
19, 704
.148
.143
.144
.148
.151
.158
.157
.158
214
166, 348
158, 212
168
8 465
147, 708
228
256
250
DAIRY PRODUCTS
Butter, creamery:c?
77, 255
Production (factory)
thous. of lb__ r 79, 020
Stocks, cold storage, end of month
do
13, 399
7,323
.851
Price, wholesale, 92-score (New York) dol. per lb_.
.836
Cheese:
64, 505
Production (factory), totaled
thous. of lb__ ' 64, 495
American, whole milked
do
' 45, 395 46, 855
Stocks, cold storage, end of month, total do. _ 124, 106
110, 125
American, whole milk
do
93, 570
107, 236
Imports
do
1 915
1 369
Price, wholesale, American, single daisies (Chicago)*
dol. per Ib
.471
.477
Condensed and evaporated milk:
Production: cf
Condensed (sweetened):
15, 660
15, 330
Bulk goods
-thous. of lb_.
9,550
9,750
Case goods
do
194, 000
176, 250
Evaporated (unsweetened), case goods, do
Stocks, manufacturers', case goods, end of month:
9,124
Condensed (sweetened)
thous. oflb
8,682
E vaporated (unsweetened)
_._do
95, 433
73, 267
Exports:!
Condensed (sweetened)
do
7 818
6 868
Evaporated (unsweetened)
do
16, 073
19, 601
Prices, wholesale, U. S. average:
Condensed (sweetened)
dol. per case-9.12
8.93
Evaporated (unsweetened)
do
5.83
5.99
Fluid milk:
Production
mil. of lb__
' 8, 290 r 8, 126
2,782
Utilization in mfd. dairy productsjcf
do
2,786
Price, dealers', standard grade
dol. per 100 lb__
5.08
5.10
Dry milk:
Production :d*
12, 850
12,660
Dry whole milk
thous. of Ib_.
37, 800
38,100
Nonfat dry milk solids (human food)
do
Stocks, manufacturers', end of month:
r
12, 173
Dry whole milk
do
11, 871
r
Nonfat dry milk solids (human food)
do
15, 080
18, 155
Exports: §
Dry whole milk
do
5,802
6,388
Nonfat dry milk solids (human food)
do
9,671
19, 710
Price, wholesale, nonfat dry milk solids (human
food), U. S. average
dol. perlb_.
.146
.149
FRUITS AND VEGETABLES
67, 995 ' 72, 905
87,660
80, 745
70, 520 ' 62, 545 51, 025 ' 55, 125
164, 410 ' 148, 100
195, 470
212, 282
140, 791 ' 126, 534
182, 449
167, 535
2,272
3,090
3,199
' 1, 293
.159
.151
91,895
19, 469
.630
80, 775
61,045
134, 954
116, 427
.131
Apples:
1
Production (crop estimate)
thous. of bu
90, 288
r
271
608
2 497
4,792
3, 501
Shipments, carlotj
no of carloads
4 729
3,523
687
4 516
4 175
7,681
1,720
214
4,902
' 17, 813 12, 962
Stocks, cold storage, end of month. .thous. of bu._
1,855
392
22,413
21, 836
22, 772
16, 567
10, 244
4,896
148
12, 346
8,404
6,431
7,258
Citrus fruits, carlot shipments
no. of carloads. . 16, 695
14, 233
8,403
9,579 ' 12, 752 12, 571
14, 701
15, 061 '
15, 218
Frozen fruits, stocks, cold storage, end of month
247, 895
280, 744
371, 565
362, 423
thous. of lb__ 343, 539
364, 115
346, 941 ' 335, 940
316, 819
281, 762
250, 326
340, 894
318,301
Frozen vegetables, stocks, cold storage, end of
month
.thous. of lb_. 254, 853
176, 118
181, 526
214, 096
266, 910
311, 734
226, 619
196, 628
160, 423
311,968
308, 829 ' 281, 825 262, 906
Potatoes, white:
1
Production (crop estimate)
thous. of bu
445, 850
r
33 052
27 753
16, 533
23 363
23 919
Shipments carlot
no of carloads
22 092
21 484
23, 405
23, 059
30 932
32, 664
26 283
20 946
Price, wholesale, U. S. No. 1 (New York)*
3.757
5.332
5.224
5.915
4.723
3.624
3.499
dol. per 100 lb_.
3.193 . 3. 302
5.380
3.699
4.165
4.628
' Revised.
* December 1 estimate.
§ Beginning in the April 1948 Survey, export figures include Army civilian supply shipments; see note marked "t" on p. S-21.
*New series. The new price series for cheese has been substituted for the price of twins on the Wisconsin Cheese Exchange; data beginning 1928 will be shown later. The price of U. S.
No. 1 potatoes has been substituted for Long Island No. 1; data are available beginning March 1947 and figures for March-June 1947 are shown on p. S-27 of the September 1948 Survey. Prices
through September 1948 are based on quotations as of Tuesday; subsequently as of Monday.
^Consumption of distilled spirits for beverage purposes revised for 1944; revisions are shown on p. S-27 of the November 1948 Survey. Revisions for fluid milk utilization in manufactured
dairy products for 1946 are shown on p. S-27 of the September 1948 Survey; final revisions for 1947 are shown at the bottom of p. S-35 of the February 1949 issue.
c? Revisions for 1947 are shown in the note for dairy products at the bottom of p. S-35 of the February 1949 issue.
SUEVEY OF CUKEENT BUSINESS
S-28
Unless otherwise stated, statistics through
1946 and descriptive notes may be found in
the 1947 Supplement to the Survey
March 1949
1949
1948
January
Febru-
ary
March
April
May
July
June
August
Septem-
ber
October
Novem-
ber
Decem-
ber
January
FOODSTUFFS AND TOBACCO—Continued
GRAINS AND GRAIN PRODUCTS
Exports, principal grains, including flour and mealt§
thous. of bu_Barley:
Production (crop estimate)
__ !_ . do
Receipts principal markets
do
Stocks, domestic, end of month:
Commercial
do On farms
do
Exports including maltf§
do
Prices, wholesale (Minneapolis):
No. 2, malting
dol. per bu_.
No 3 straight
do
Corn:
Production (crop estimate)
mil. of b u _ _
Grindings, wet process
thous. of bu_.
Receipts principal markets
do
Stocks, domestic, end of month:
Commercial
do
On farms
mil. of bu_.
Exports, including mealtl
thous. of bu _
Prices, wholesale:
No. 3, white (Chicago)
dol. per b u _ _
No 3 yellow (Chicago)
do Weighted average, 5 markets, all grades. -do
Oats:
Production (crop estimate)
mil. of bu__
Receipts principal markets
thous. of bu_
Stocks, domestic, end of month:
Commerical
_.do
On
farms
do Exports including oatmeal f§
__do
Price, wholesale, No. 3, white (Chicago)
dol. per bu_Rice:
48, 493
41,817
36, 787
38, 867
" 45, 944
' 35, 187
r
51, 752
' 62, 416
52, 752
54,919
41, 992
54, 388
1
8,679
5,773
5,737
5,717
7,270
8,455
8,271
22, 535
13, 926
12,570
10, 616
24, 205
21, 521
10, 879
7,597
6,537
12, 026
18,847
18, 740
317, 037
11,300
465
794
668
1,106
6,740
2 35, 825
812
1,704
4,375
19, 254
208, 979
1,646
3,467
1,570
16, 457
156, 600
1,162
2.675
2.507
2.359
2.142
2.433
2.243
2.381
2.267
2.354
2.227
2.267
2.099
1.754
1.704
1.486
1.366
1.410
1.270
1.517
1.419
1.554
1.447
1.480
1.346
1.472
1.375
10, 180
26, 368
8,386
18, 426
7,999
12, 116
7,804
19, 569
8,408
19, 028
8,962
24, 406
8,438
15, 688
8,799
16, 897
9,261
17, 246
10,517
26, 339
11, 197
63, 005
3 651
9,927
45, 269
9,958
38,281
17, 035
20, 996
7,520
5,040
999
39,002
587
1,225
6,890
50, 328
2 519 6
11,040
50,639
561
1,522
2114.0
523
4,621
M39
5,210
423.0
608
1,972
1,312
15, 214
1
629
970
9,293
842.6
907
2.692
2.711
2.582
(3)
2.253
2.152
2.442
2.301
2.229
2.390
2.318
2.257
2.388
2.306
2.249
2.445
2.316
2.259
2.280
2.136
2.100
2.250
1.951
1.949
2.210
1.808
1.760
1.477
1.470
1.375
1.449
1.381
1.272
1.443
1.424
1.329
1.464
1.428
1.303
11, 684
5,804
8,411
8,203
8,700
9,046
14,780
27, 329
14, 497
9,864
8,861
1 } 492
9,335
9,321
9,968
7,077
1,937
1,663
3,821
18, 405
»• 10, 424
1,562
18, 902
1, 187, 541
418
1,792
15,031
2,910
3,288
405. 082
1,296
3,552
2,530
1.401
1.273
1.298
.746
.778
.878
1,537
862
1,841
2
169,707
2,095
1.253
1.170
1.111
r
1,410
.770
.716
11, 433
927, 488
2,936
9,544
.866
.819
1
California:
Receipts domestic, rough
thous. of lb_
Shipments from mills, milled rice
do
Stocks, rough and cleaned (cleaned basis), end
of month
_ thous. of lb_.
Southern States (Ark., La., Tenn., Tex.):
Receipts, rough, at mills-thous. of bbl. (1621b.)_Shipments from mills, milled rice., thous. of lb_._
Stocks, domestic, rough and cleaned (cleaned
basis), end of month
thous. of lb__
Exports§
do
Imports
- . .
do
Price, wholesale, head, clean (N. O.)-dol. per lb__
Rye:
Production (crop estimate)
... thous. of bu__
Receipts principal markets
do
Stocks, commercial, domestic, end of month_do
Price, wholesale, No. 2 (Minne.)
dol. per bu_.
Wheat:
Production (crop estimate), total
mil. of bu_.
Spring wheat.do
Winter wheat
- do
Receipts, principal markets
thous. of bu_.
Disappearance, domestic
do
Stocks, end of month:
Canada (Canadian wheat)
do
United States domestic, total J
do _
Commercial
__do
Interior mills, elevators, and warehouses
thous. of bu
Merchant mills.do
On farms-.
do_ _
Exports, total, in eluding flour f§do
Wheat only §_-_
do
Prices, wholesale:
No. 1, dark northern spring (Minneapolis)
dol. per bu_.
No. 2, hard winter (Kansas City)
do.-_
No. 2, red winter (St. Louis)
do
Weighted avg., 6 markets, all grades
do
Wheat flour:
Production:^
Flour
thous. of sacks (100 Ib.)
Operations, percent of capacity
_
__
Offal
_
.__
___short tons__
Grin dings of wheat J
thous of bu
Stocks held by mills, end of month
thous. of sacks (100 lb.)_
Exports §
_
do
Prices, wholesale:
Standard patents (Minneapolis)
dol. per sack (1001b.)._
Winter, straights (Kansas City)....
-do
8,323
15, 756
68, 696
1,157
81, 170
58,208
54, 875
82,010
79,646
72,810
27, 317
102, 109
66, 780
63,423
47, 603
38, 635
33, 947
32, 446
26,491
3,630
17, 818
3,030
3,082
97,925
29, 478
89, 946
28,920
40,833
42, 987
53,677
21,904
52, 698
28,434
48,056
48, 963
40, 358
29, 168
22, 528
7,607
6, 395
36, 376
63,368
45, 769
56,961
616
130, 523
363
89, 254
209
95,263
157
122, 578
207
82,400
129
50,220
5
24, 939
1,210
80, 124
3,816
178, 082
5,182
253, 425
2,682
241, 393
1,577
229, 229
473
155, 497
355, 777
31,628
267
.127
306, 419
104,889
647
.134
235, 886
63, 322
1,266
.129
133, 832
93, 137
480
.129
73, 496
' 140, 139
897
.138
38,896
19, 161
454
.159
16,058
7,663
350
.165
61, 195
19, 208
350
M63
273, 024
40, 782
150
(3)
546, 802
83, 101
150
.100
587. 650
117, 435
202
.091
532, 386
146, 705
534
.103
434, 612
1,714
5,376
1,731
i 26, 388
1,858
4, 838
1.676
437
3,636
2.763
367
2,688
2.410
609
1,521
2.562
654
1,286
2.530
657
954
2.412
438
531
2.247
1,053
901
1.783
3,634
2,666
1.598
2,084
4,469
1.503
1,946
3,323
1.645
1
23,209
30, 520
72,082
53, 096
56, 694
49, 622
35,022
16,053
14,967
321, 588
115,735
102, 328
124,041
97, 989
85, 835
480, 101
70, 174
44, 488
24, 502
38, 396
27, 121
75, 382
73, 714
256, 986
32, 784
21, 534
35, 238
21,118
32, 780
19, 707
230, 579
234,240
2
94, 511
r
42, 429
24, 527
3.198
3.032
3.120
3.149
2.765
2. 508
2.866
2.684
2.667
2.454
2.538
2.609
2.669
2.445
2.546
2.612
2.625
2.402
2.440
2.596
24, 174
80.0
460, 890
55, 141
21, 002
78.1
401, 960
47, 974
21, 768
69.0
415, 510
49,631
22, 079
72.6
422, 334
50, 288
8,940
5,015
5, 031
4,999
7.175
6.735
6.294
5.736
586
1,312
511
977
50,471
284, 181
85, 359
75, 714
336, 064
34, 765
64, 533
169, 181
211, 023
160, 812
1, 148, 272
219, 111
48, 068
32, 748
'
57, 036
r
39, 923
249, 817
129, 233
546, 151
48,790
34, 732
2.601
2.294
2.325
2.562
2.427
2.193
2.248
2.308
2.319
2.150
2.163
2.218
22, 670
77.7
430, 408
51, 883
22, 827
80.3
438, 162
52, 416
24, 179
80.0
466, 902
55,664
24, 940
82.8
478, 262
57, 352
6,288
5,806
4,595
' 7, 491
6.162
5.650
6.075
5.569
5.845
5.415
5.769
5.094
566
986
550
899
509
877
620
1.109
2
48, 305
195, 925
34,065
2
150,846
r
r
46,870
28,534
.098
725
3,980
1.608
1,
288. 4
1
298. 3
17, 923
180, 518
169, 448
206,864
••181,917
30, 397
291, 226
166, 144
857, 046
166, 348
46, 424
35, 919
31,002
19, 756
202, 082
103, 248
381, 667
39, 250
25, 917
2.350
2.204
2.245
2.256
2.387
2.226
2.263
2.282
2.473
2.282
2.359
2.364
2.397
2.287
2.444
2.308
2.351
2.250
2.294
2.286
23, 402
80.9
451,015
53, 771
24, 156
84.2
461, 952
55, 355
22, 887
83.2
434, 261
52, 385
22, 487
75.5
427, 310
51, 488
22, 383
78.0
424, 801
51, 274
7, 520
4,802
6,317
4,713
5,038
5,118
5,913
5. 662
5.110
5.595
5.181
5.588
5.131
5.775
5.140
5.750
5.194
5. 712
5.231
5.445
5.135
577
1.046
569
1.086
599
1.178
633
1.1 7fi
614
1. 151
572
1 197
1 19fi
6, 752
r
155, 367
150, 165
LIVESTOCK
Cattle and calves:
Slaughter (Federally inspected) :
Calves
' thous. of animals
Cattle
do
r
l
484
Revised.
December 1 estimate.
2
Includes old crop only; new grain not reported in stock figures until crop year begins in July for barley, oats, and wheat and October for corn. 3 NO quotation.
IThe total includes wheat owned by the Commodity Credit Corporation and stored off farms in its own steel and wooden bins; such data are not included in the break-down of stocks.
§Beginning in the April 1948 Survey, export figures include Army civilian supply exports; see note marked "J" on p. S-21.
JData are partly estimated; see note marked "J" on p. S-28 of the October 1948 Survey.
fRevised series. Data included for wheat flour, corn meal, malt, and oatmeal have been revised using new conversion factors supplied by the U. S. Department of Agriculture, which take
into account changes in milling practices. The revisions have been carried back in each case to the earliest year for which the new information is available as follows: Exports of principal grains
and oat exports, 1943; wheat and barley exports, 1944; corn exports, 1946. The new conversion factors are given in the note for grain exports at the bottom of S-29. Revised figures for 1944-46
for barley and through August 1947 for other series will be published later. The new factor for malt has been used in data for barley exports beginning January 1947 published in previous issues.
SUKVEY OF CURRENT BUSINESS
March 1949
Unless otherwise stated, statistics through
1946 and descriptive notes may be found in
the 1947 Supplement to the Survey
S-29
1949
1948
January
February
March
April
May
June
July
August
September
October
November
December
January
FOODSTUFFS AND TOBACCO—Continued
LIVESTOCK-— Continued
Cattle and calves— Continued
Receipts, principal markets ___thous. of animals. _
Shipments, feeder, to 8 corn belt States
do
Prices, wholesale:
Beef steers (Chicago) _ _ _
.dol. per 100 lb__
Steers, stocker and feeder (Kansas City) do
Calves, vealers (Chicago)
do
Hogs:
*
Slaughter (Federally inspected) ..thous. of animals. .
Receipts, principal markets
do
Prices:
Wholesale, average, all grades (Chicago)
dol. per 100 lb-_
Hog-corn ratio
bu. of corn equal to 100 Ib. of live hog-Sheep and lambs:
Slaughter (Federally inspected)
thous. of animals. .
Receipts, principal markets
do __
Shipments, feeder, to 8 corn belt States . do
Prices, wholesale:
Lambs average (Chicago)
dol per 100 Ib
Lambs, feeder, good and choice (Omaha) .do
2,028
103
1,485
59
1,680
54
1,878
82
1,898
117
2,127
134
1,887
138
2,318
221
2,517
390
2,722
606
2,511
461
1,851
195
1,786
94
29.16
26.31
29.06
26.43
24.15
27.00
26.71
25.57
25.65
28.43
26.62
25.75
31.33
27.60
28.90
34.72
26.96
27.25
36.37
28.25
27.63
35.22
27.40
28.00
34.03
25 42
28.13
32.05
24.41
26.88
30.71
24.52
0)
26.78
23.26
0
24.35
22.15
0)
5,223
3,272
3,746
2,305
3,574
2,309
3,343
2,462
3,562
2,660
4,235
2,863
3,044
2,022
2,440
1,707
2,836
1,842
4,098
2,361
5,425
3,272
6,089
3,522
5,377
3,316
26.71
22.25
21.40
19.79
20.15
23.10
25.17
26.89
27.75
25.48
22.68
21.01
19.46
10.9
11.2
10.3
9.4
9.1
10.6
12.8
14.2
15.3
17.8
18.0
17.2
16.1
1,347
1,428
81
1,209
1,255
64
1,175
1,259
65
1,045
1,211
69
978
1,382
106
1, 262
1,590
149
1,195
1,409
61
1,264
1,932
229
1,464
2,611
495
1,632
2,512
548
1,444
1,786
367
1, 329
1,436
133
1,235
1,386
151
25.00
21.78
23.00
20.44
21.50
19.47
24.00
21.61
26.75
22.67
29.00
0)
28 50
0)
27.00
25.97
23 88
23.18
22.12
22.12
25.12
23.01
25 12
23.31
24.75
0)
1,323
1,168
r
40
1,299
1,097
r
61
1,197
990
25
1,228
941
29
1,549
960
32
1,274
860
r
36
1,149
668
35
1,229
492
38
1,432
449
34
1,691
612
28
1,890
'879
64
1,757
1,053
541,914
178, 541
r
1, 409
563,238
154, 411
r
1, 561
527, 314
120, 898
1,050
503, 226
102, 578
712
615, 696
88,705
913
577, 522
76, 408
T
1, 073
599, 674
75, 692
1,777
650,370
80, 587
2,203
640, 225
97, 705
949
635, 432
126, 287
447
671, 541
r 170, 581
1,928
649, 195
172,084
MEATS
Total meats (including lard) :
Production (inspected slaughter).
_mil. of lb_.
1,762
1,130
Stocks, cold storage, end of month. _
_do
35
Exports§
do -_
Beef and veal:
Production (inspected slaughter)
thous. of lb_. 698, 314
193, 316
Stocks, cold storage, end of month
do
1,389
Exports!
do
Price, wholesale, beef, good (500-"600"ibs.), (Chicago)*
dol. perlb..474
Lamb and mutton:
60, 107
Production (inspected slaughter)
thous. of lb_19,294
Stocks, cold storage, end of month
do
Pork, including lard, production (inspected
slaughter)
thous. of lb__ 1, 003, 276
Pork, excluding lard:
745, 581
Production (inspected slaughter)
do
659, 309
Stocks, cold storage, end of month
__do
1.756
Exports§
do
Prices, wholesale:
.612
Hams, smoked (Chicago)
dol. per lb_.
.482
Fresh loins, 8-10 Ib. average (New York). do
Miscellaneous meats and meat products, stocks, cold
storage, end of month:
74, 261
Edible offal
thous. of lb..
Canned meats and sausage and sausage room
49, 953
products
thous. of lb_.
Lard:
188, 171
Production (inspected slaughter)
...do
133, 513
Stocks cold storage end of month
do
23 143
Exports!
do
.292
Price, wholesale, refined (Chicago) _ _ . dol. per lb_.
.419
.432
.470
.501
.541
.575
.574
.561
.518
.490
55, 859
16, 971
55,049
14, 890
47, 601
9,106
42, 039
7,665
51,710
7,999
49, 915
8,557
53, 389
9,847
61,783
10, 478
67, 469
16, 296
61,663
23,305
724, 834
680, 771
621, 675
682, 325
881,565
646, 403
496, 236
517,028
724, 588
993, 960 1, 159, 770 1,052,632
531, 423
700, 114
3,216
506, 096
661, 399
3,430
473, 317
606, 827
1,794
514, 718
580, 056
2,804
650, 982
582, 496
2,909
477, 942
508, 213
1,649
372, 166
359, 794
2,273
397, 380
234, 909
1,773
558, 733
203, 163
1,879
752, 254
851, 366
310, 706 ' 469, 153
1,813
3,345
.538
.471
.561
.523
.569
.536
.576
.545
.610
.535
.644
.624
.658
.682
.669
.675
.586
.595
.570
.456
.579
.415
.571
.429
70, 766
67, 178
56, 480
51, 124
55, 760
50, 393
43, 843
36, 389
34, 690
42, 312
' 58, 081
64, 841
64,622
69, 854
58, 136
48, 616
43, 787
42,375
38,993
32, 607
30, 270
32, 446
' 38, 863
44, 616
141, 384
137, 416
25, 544
.239
127, 736
129, 028
47, 345
.238
108. 165
138; 924
16, 328
.250
122, 340
150, 660
20, 929
.243
168, 689
181, 327
13, 725
.245
123, 277
174, 304
20, 747
.240
90,594
139, 751
16, 806
.241
87, 107
96, 587
14, 512
.240
120, 682
66, 526
16, 525
.234
176, 282
77, 021
15, 117
.216
225, 748
' 116, 397
41, 112
.195
212, 810
161, 857
22, 385
262, 374
.260
25,275
205, 745
.280
26, 614
153, 424
.298
31, 221
117, 935
.292
32, 736
99,507
.296
32,060
91, 186
.317
31, 520
88, 234
.336
41. 724
108, 368
.332
45,188
154, 617
.300
63,536
171, 472
.306
54, 511
•• 160, 834
.346
22,069
148, 466
.340
4,723
1,029
6,093
1,781
6,304
3,213
5,992
5,541
5,019
9,081
4,459
9,047
3,922
5,926
3,536
3,692
3,534
2,221
3,498
855
4,041
554
4,567
2,431
374
120, 665
1,165
143, 253
3,091
195, 954
4,903
248, 574
5,669
266, 748
5,525
257, 367
4,608
233, 431
3,290
200,968
1,685
169, 287
444
139, 298
••159
«• 104, 932
145
72, 195
.434
.432
.429
.410
.416
.412
.444
.442
.456
.494
.482
.432
443
58, 337
' 26, 209
.398
55,520
22, 482
762, 355
586, 709
.171
POULTRY AND EGGS
Poultry:
28, 083
Receipts, 5 markets
thous. of lb_.
Stocks, cold storage, end of month
do ... 293, 640
.265
Price, wholesale, live fowls (Chicago) _dol. per Ib..
Eggs:
r
4, 318
Production farm
»
millions
552
Dried egg production
_ _
.thous. of lb__
Stocks, cold storage, end of month:
Shell
-_-thous. of cases. .
269
Frozen
-thous. oflb_. 122, 438
Price, wholesale, U. S. standards (Chicago)
.441
dol. per doz..
MISCELLANEOUS FOOD PRODUCTS
*
45, 057
66,164
78, 074
77,293
44, 156
47, 260
54, 947
34, 000
55, 187
60, 624
63, 655
66, 201
64,926
Candy, sales by manufacturers c?
thous. of dol..
Cocoa:
7,935
21, 082
11, 898
17, 461
24,208
13, 958
32, 147
17, 586
21, 090
24 698
18, 415
39, 151
Imports
long tons
.332
.442
.402
.354
.404
.391
.394
.416
.266
.436
.436
.446
.317
Price, wholesale, Accra (New York)-. dol. per lb__
Coffee:
1,328
1,844
1,691
1,827
1,413
1,605
1,294
1,433
1,285
1,371
Clearances from Brazil, total.
thous. of bags
1,220
1,805
943
1,099
1,388
1,295
742
979
1,118
733
782
1,089
1,198
To United States _ _ _
__ . do ..
760
952
915
913
1, 103
1,259
1,144
948
1,044
954
1,111
1,183
1,082
Visible supply, United States
do
r
1,412
1,211
1,714
1,605
1, 342
1,851
2,055
1,884
2,098
2,560
Imports
do
1,884
1,397
Price, wholesale, Santos, No. 4 (New York)
.266
.266
.268
.268
.276
.264
.264
.270
.265
dol. perlb__
.270
.270
.270
.272
Fish:
56, 767
21, 537
47, 208
49, 508
67,660
68, 746
71, 885
68,709
54, 453
49, 692
28, 620
Landings, fresh fish, 5 portsj
thous. of Ib
112, 046
90,491
85, 601
135, 928
146, 505
147, 411
Stocks, cold storage, end of month
do ~_
76, 743
100, 537
127, 474
140, 160
158,008
68, 268
150, 974
Sugar:
Cuban stocks, raw, end of month
455
2,911
3,134
1,194
.434
thous. of Spanish tons._
1,645
3,810
3,176
2,243
919
1,714
2,818
409
r
l
Revised.
No quotation.
tRevisions for January 1946 to June 1947 are shown on p. S-29 of the September 1948 Survey.
!Beginning
in the April 1948 Survey, export figures include Army civilian supply shipments; see note marked "t" on p. S-21.
tf1 This series continues data in the 1942 Supplement to the Survey; it was omitted from the 1947 Supplement because of discovery of inconsistencies in the data. See note on corresponding
item in the January 1949 Survey.
*New series. The series for beef, good (500-600 pounds), Chicago, has been substituted for the series for beef, fresh, native steers (600-800 pounds) shown in the January 1949 Survey and
earlier issues; data beginning 1939 will be shown later.
NOTE FOR GRAIN EXPORTS, p. S-28.—The new factors for converting grain products to grain, referred to in note marked "f" on p. S-28, are as follows: Wheat flour—beginning July 1947,
an average factor is computed each month, weighting the milling rate for the types of flour exported by the quantities shipped; the factor for the period beginning September 1947 ranged from
2.234 to 2.276 bushels of wheat per 100 pounds of flour; malt—1 bushel of barley per bushel of malt; cornmeal—3.16 bushels of corn per 100 pounds of meal; oatmeal—7.6 bushels of oats per 100
pounds of oatmeal.
SURVEY OF CURRENT BUSINESS
S-30
Unless otherwise stated, statistics through
1946 and descriptive notes may be found in
the 1947 Supplement to the Survey
March 1949
1948
January
February
March
April
May
1949
July
June
August
September
October
November
December
January
FOODSTUFFS AND TOBACCO—Continued
MISCELLANEOUS FOOD PRODUCTS—
Continued
Sugar— Continued
United States:
Deliveries and supply (raw basis):
Production and receipts:
Production
.short tons.. 144, 172
81, 968
Entries from off-shore
do
19, 502
Hawaii and Puerto Rico*
do
'r 344, 901
Deliveries total
-- --do
339, 472
For domestic consumption
do
5,429
For export
do
Stocks, raw and refined", end of month
thous. of short tons.. r 1, 841
Exports, refined sugar §
short tons_. ' 4, 239
Imports:
60, 784
Raw sugar total
__do
33, 910
From Cuba
do
2,844
Refined sugar total
do
2.083
From Cuba
_ __
do
Price (New York):
.058
Raw, wholesale
dol. per lb._
Refined:
.098
Retail
do .__
.080
Wholesale
--- do
7,863
Tea, imports.
-thous. of lb__
TOBACCO
Leaf:
Production (crop estimate)
mil. oflb__
Stocks, dealers and manufacturers, end of quarter,
total
mil.oflb..
Domestic:
Cigar leaf
do
Fire-cured and dark air-cured
do
Flue-cured and light air-cured
do
Miscellaneous domestic
do
Foreign grown:
Cigar leaf
do
Cigarette tobacco
_ __ do
Exports, including scrap and stems§_— thous. of lb._
Imports including scrap and stems
- -do
Manufactured products:
Production, manufactured tobacco, total
thous. of lb__
Fine-cut chewing
do
plug
...do
Scrap chewing
-- -do_ __
Smoking
do
Snuff
.
-do
Twist
do
.Consumption (withdrawals) :
Cigarettes (small) :cf
Tax-free
millions..
Tax-paid
-.do
Cigars (Large), tax-paid
.thousandsManufactured tobacco and snuff, tax-paid
thous. of lb__
Exports, cigarettes§_
.
millions-Price, wholesale (composite), cigarettes, f. o. b.,
destination
dol. per thous.-
68,262
359, 259
56, 003
388, 071
382, 930
5,141
59, 875
566, 627
148, 444
572, 746
565, 503
7, 243
445, 309
163, 577
562, 391
557, 910
4,481
25,222
512, 510
192, 742
599, 958
595, 614
4,344
46, 339
492, 872
249, 143
818, 181
814, 200
3,981
1,880
5,544
1,950
9,555
1,843
3,936
1,782
4,120
1,502
2,890
274, 977
251, 187
26, 709
24, 782
384, 684
363, 978
26, 295
25, 711
210, 620
204,965
51, 232
49, 787
259, 755
228, 443
30, 470
30, 216
.055
.054
.054
.093
.077
7,105
.093
.076
6,538
.093
.076
13, 052
(•)
636, 652
239, 064
18, 865
576, 883
571, 579
5,304
275, 318
210 060
79,992
566 901
559, 545
7 356
1,533
3, 186
1,493
8,447
234, 854
198, 312
39, 396
39,396
134, 306
121, 292
8,330
8,330
214 014
205, 456
.057
.056
.057
.056
.057
.092
.092
.076
6,511
.092
.092
.092
35,014
489, 168
243,933
925, 778
921, 497
4,281
42, 368
498, 295
85, 122
901,689
893, 453
8,236
102, 233
594,859
232, 575
617,681
608, 967
8 774
1,106
3, 905
829
4,292
891
7,293
1,266
7,612
195, 268
158, 918
37, 555
34, 204
195, 537
177, 039
41, 617
41,617
397, 341
354, 566
40, 753
38, 753
283, 798
247, 809
31, 801
31,801
.051
.054
.057
.058
.092
.075
8,500
.091
.074
8,499
.091
.076
7,360
.092
.076
8,851
r
076
3,871
505,601
482, 760 <
238,358
543, 260
531, 969
11, 291
r
076
076
4,001
352
287
378
265
338
3,016
2,644
240
308
232
2 833
3 182
30
127
28
127
25
112
24
128
3, 549
2
3 875
2
2
23,601
7,713
33, 601
5,725
19, 194
7,153
27, 786
7,075
34, 744
6,720
20,914
7,335
59,006
6,337
44, 165
7,943
47, 855
7,756
36,260
7,713
21, 711
6,838
19,232
21, 610
22, 816
23,999
20, 461
4,215
3,958
9,390
3,342
4,157
3,780
10, 666
3,471
4,112
3,924
11, 743
3,451
3,872
3 770
8,721
3,354
18, 549
363
334
21, 055
21, 340
19, 536
20, 937
17,889
3,516
3,383
8,017
3,489
3,522
3,183
7,791
3,265
3,910
3,560
8,910
3,879
4,200
3,377
9,693
3,390
3,415
3,270
9,015
3,176
3,704
3,733
9,251
3,511
3,591
3,116
7,548
2,950
464
454
1 898
3,444
3
322
473
220
462
217
443
257
230
481
454
251
454
255
078
9,332
3,814
r
1,348
1
1
r
125, 201
245, 436
56, 243
563 238
558,390
4 848
237
486
532
57, 773
6 035
268
476
3,213
27,273
461, 398
3,578
23, 472
460, 141
3,197
29,252
470, 099
2,422
31,618
449,504
2,363
29,092
444, 491
3,250
31,269
479, 949
3,068
27, 205
430, 210
3,547
34, 192
505, 228
4,104
29,983
544 856
4,030
31,079
529, 971
2,736
29, 075
553, 755
19, 587
2,000
18,071
2,365
20,222
2,349
21,821
1,417
19, 024
1,448
20,280
2,090
17, 880
1,947
21,201
2,025
23,157
2,535
23,816
2,952
19, 527
1,674
16, 492
2 368
18,214
6.509
6.509
6.509
6.509
6.509
6.509
6.509
6.862
6.862
6.862
6.862
6.862
6 862
22,689
15, 394
15, 338
11,091
12 355
14 320
3 185
24 897
440 267
r
? 28, 006
438 286
LEATHER AND PRODUCTS
HIDES AND SKINS
Imports, total hides and skins.- . .. thous. of lb__
Calf and kip skins
thous. of pieces..
Cattle hides
do
Goatskins
_ - .. _ _ do .
Sheep and lamb skins
..do. _Prices, wholesale (Chicago):
Calfskins, packers', 8 to 15 Ib
dol. per Ib_.
Hides, steer, packers', heavy, native _ do
58,027
310
850
26,215
98
187
21,242
76
274
17, 266
86
113
17, 878
54
147
20,432
48
223
38
158
23
118
92
91
50
85
105
127
51
104
3,640
2,709
5,835
2,342
4,226
2,246
3,510
2,128
2,928
1,404
2,420
3,686
2,999
3,529
2,710
1,946
2,611
3,144
3,181
897
1 480
2,831
3 433
1,011
.650
.308
.415
.257
.351
.222
.392
.248
.472
.272
.435
.274
.450
.301
.388
.291
.390
289
.381
269
.394
295
.410
267
.398
267
LEATHER
Production:
912
834
818
836
935
905
Calf and kip.
thous. of skins.
818
701
938
857
894
1 060
2,405
2,258
2,175
2,119
2,183
Cattle hide
thous. of hides..
2,330
1,833
2,186
2,157
2,144
2 051
2 247
3,407
3,188
3,540
3,408
Goat and kid...
thous. of skins..
3,338
3,017
r 3 058
2,815
2,736
2,987
3,108
3 228
o' 72Q
2 743
2,782
2,934
2,892
Sheep and lamb
.
do
2,700
2,829
2,890
2 325
3 193
2 850
2 665
Exports:
Sole leather:
_
43
32
Bends, backs, and sides
thous. of Ib
19
25
61
78
53
12
44
34
37
57
116
72
Offal, including belting offal
do
60
118
144
126
191
5
127
122
50
60
Upper leather
thous. of sq. ft_1,986
1,789
2,180
2,019
2,289
2,291
2,644
2,085
2,159
2,811
1,714
3,676
Prices, wholesale:
Sole, steer, bends, tannery run (Boston)
dol. per lb._
.784
.742
.653
.632
.672
.676
.676
.662
.642
.674
.632
.701
.681
Chrome, calf, black, first commercial grade, com1.272
1.042
posite!
dol. per sq. ft_.
1.165
1.055
1.048
1.030
1.075
1.047
1.013
1.026
.026
1.051
1.046
r
Revised.
f Preliminary.
1 December 1 estimate.
• January-April 1948 total, including corrections for months prior to April, 248,372 tons; corrected monthly figures not available,
t Not strictly comparable with data prior to September 1947; see note in November 1948 issue.
§ Beginning in the April 1948 Survey, export figures include Army civilian supply shipments; see note marked "J" on p. S-21.
*New series. Data on entries of raw and refined sugar (raw basis) from Puerto Rico and Hawaii, compiled by the U. S. Department of Agriculture, have been substituted for receipts
of raw and refined sugar from these areas compiled by the U. S. Department of Commerce; collection of data for Hawaii has been discontinued by the latter agency.
cfData for January-June 1947 are shown on p. S-30 of the January 1949 Survey.
SURVEY OF CURKENT BUSINESS
March 1949
Unless otherwise stated, statistics through
1946 and descriptive notes may he found in
the 1947 Supplement to the Survey
S-31
1948
January
February
March
April
May
• June
1949
July
August
September
October
November
December
January
r
LEATHER AND PRODUCTS—Continued
LEATHER MANUFACTURES
Shoes and slippers:
Production, total
thous. of pairs
Shoes, sandals, and play shoes, except athletic,
total
thous. of pairs
By type of uppers: c?
All leather
do
Part leather and nonleather
do
By kinds:
Men's. _ _
_
do.
Youths' and boys'
do
Women's ...
. _
do .
Misses' and children's
do
Infants' and babies'
_ _ _
do
Slippers for housewear
do
Athletic
.
do
Other footwear
do
Exports.
__
do. _
Prices, wholesale, factory:
Men's black calf oxford, plain toe..dol. per pair..
Men's black calf oxford, tip toe
_ _ do
Women's black kid blucher oxford
do
40, 731
40,290
44, 852
39, 412
33, 974
38, 417
31, 957
41, 357
42,081
39,050
r
34, 691
35, 470
37, 899
37, 346
41, 502
36, 306
30, 858
34, 587
28, 484
S6, 406
36, 482
33, 058
'28,636
31,639
36, 118
1,816
35, 130
2,126
38, 972
2,603
34, 292
2,319
28, 473
2,417
32, 359
2,401
26, 891
1,586
33, 995
2,386
33,933
2,558
31,288
1,830
27,127
1,599
30, 110
1,567
9,264
1,397
18,483
5,350
3,405
2,349
304
179
398
9,088
1,223
18, 371
5,277
3,387
2,464
298
182
519
9,951
1,284
20,372
6.044
3,851
2,801
7,828
1,252
14, 244
4,532
3,002
2,688
8,898
6,984
1,557 » 1, 293
15, 972
14, 189
3,484
4,846
2,534
3,314.
3,374
3,046
8,838
1,711
18, 367
4,454
3,036
4,273
9,269
1,853
17, 976
4,348
3,036
4,892
8,625
1,630
15, 812
4,052
2 939
5^351
7,813
1,429
12. 874
365
184
450
9,273
1,257
16, 871
5,385
3,520
2,592
337
177
565
5, 450
8,901
1,310
13, 842
4,519
3,067
3,309
10, 437
7.150
5.700
10. 437
7.150
5.700
10. 437
7.150
5.700
10. 437
7.012
5.562
9.653
6.600
5.150
262
166
510
281
175
r
382
264
163
352
9.653
6.600
5.150
9.653
6.750
5.150
r
3,802
r
2, 718
r
396
311
513
349
292
502
9.947
6.750
5.150
10. 143
6.750
5 150
10. 143
6.750
5.150
9.653
6.750
5.150
9.653
6.750
5.150
379
299
567
321
284
278
279
243
608
9.653
6.750
5.150
LUMBER AND MANUFACTURES
LUMBER—ALL TYPES
Exports, total sawmill products.
M bd. ft__
Sawed timber.
_
do
Boards, planks, scantlings, etc
do
Imports, total sawmill products
do
National Lumber Manufacturers Association:
Production, total
_
mil. bd. ft
Hardwoods
_
_ _ _
do __
Softwoods
do
Shipments, total.
_
_ do
Hardwoods
do
Softwoods
j.
do
Stocks, gross (mill and concentration yards), end
of month, total
.
_ _ mil. bd. ft_.
Hardwoods
do
Softwoods.
. _ ..do
SOFTWOODS
Douglas fir:
Exports, total sawmill products
_..M bd. ft..
Sawed timber..
do
Boards, planks, scantlings, etc
do
Prices, wholesale:
Dimension, No. 1, common, 2" x 4" x 16'
dol. per M bd. ft_.
Flooring, B and better, F. G., 1" x 4", R. L.
dol. per M bd. ft..
Southern pine:
Orders, new
mil. bd. ft__
Orders, unfilled, end of month .
do
Production
do. ._
Shipments
do
Stocks, gross (mill and concentration yards) .do
Exports, total sawmill products
_.M bd. ft__
Sawed timber.
do
Boards, planks, scantlings, etc
do
Prices, wholesale, composite:
Boards, No. 2 common, 1" x 6" or 8" x 12'
dol. per M bd. ft..
Flooring, B and better, F. G., 1" x 4" x 12-14'
dol. per M bd. ft..
Western pine:f
Orders, new
mil. bd. ft
Orders, unfilled, end of month
do
Production
do
Shipments. ...
do
Stocks, gross, end of month
do
Price, wholesale, Ponderosa, boards, No. 3 common, 1" x 8" .
dol. per M bd. ft
West coast woods :f
Ordprs, TIP.W
mil. brj- ft
Orders, unfilled, end of month
do
Production
do
Shipments
.do
Stocks, gross, end of month
__ do
r
r
r
58,901
7,566
34, 953
188, 131
61,483
11, 399
42,601
184, 106
27, 595
3,636
16, 418
178, 560
30, 193
2,624
20, 270
151,073
29,555
2,930
21, 669
148, 352
58,907
10 671
42, 379
126 299
3,089
674
2,415
3,077
752
2,325
3,269
753
2,516
3,125
714
2,411
3,431
3,614
3,340
791
2 549
3,074
678
2 396
3,369
837
2,532
3,085
736
2,349
2,929
707
2,222
2,654
682
1 972
2 232
687
2,445
851
2,762
3,375
786
2 589
2 620
2,617
3,132
2 027
2,383
1 622
2 195
1 849
1 619
5,773
2,008
3,765
5,805
1,931
3,874
5,942
1,969
3,973
6,313
2,095
4,218
6,606
2,160
4,446
6,866
2 274
4,592
7,200
2,374
4,826
7,431
2,400
5,031
7 680
2 458
5 222
7, 088
2 337
4,751
31, 107
7,042
24, 065
«• 33, 456
' 7, 302
26, 154
19, 418
3,294
16, 124
22, 454
5, 870
16,584
35, 445
9,311
26, 134
5,091
1,565
3,526
6,947
807
6,140
5,427
379
5,048
32,863
8 836
24 027
58, 859
r 13, 340
37, 974
r
142, 762
2,719
682
2,037
2,788
672
2,116
2,480
631
1,849
2,623
697
1,926
3,022
714
2,308
3,020
749
2,271
3,035
703
2,332
2,997
738
2,259
5,739
2,140
3,599
5,601
2,074
3,527
5,604
2,040
3,564
r
r
49, 643
14, 783
34, 860
' 34, 393 ' 47, 509
11,903 r 10, 363
22, 490
37, 146
r
r
r
r
49,834
4,714
36, 605
164, 838
'
75, 203 56, 858
r
8,323
11, 491
41, 669
55, 022
145, 949
181, 594
74, 182
16, 200
50, 158
129, 394
65, 139
10, 336
45, 957
139, 146
T
814
593
534
610
576
67. 815
64. 350
64. 350
70.042
74.250
75.240
75.240
75.240
75.240
75. 240
75.240
70. 785
66. 330
110. 880
104.940
104. 940
116. 078
127. 215
132. 462
133. 650
133. 650
133.650
133. 650
133. 650
133. 650
133.650
797
574
579
522
775
508
778
489
790
474
781
447
820
468
812
491
820
511
751
460
601
372
605
332
708
724
1,301
6, 527
1,402
5, 125
581
631
1,251
7,585
1,392
6,193
827
789
1,289
7,209
953
6, 256
860
797
1,352
8,620
1,147
7,473
894
805
1,441
10, 903
2,852
8,051
885
808
1,518
10, 575
1,031
9,544
876
799
1,595
8,734
1,369
7,365
806
789
1,612
7,291
1,688
5,603
774
800
1,586
6,762
1,861
4,901
797
802
1,581
8,076
1,794
6,282
724
689
1,616
11, 672
2,532
9,140
78.594
77. 728
77. 461
77. 007
75. 325
73.204
73.260
73.063
71. 869
71. 815
70.289
150.326
150. 326
152. 019
152. 1'64
152. 164
151. 539
151. 539
151.906
152. 881
152. 852
152. 764
504
441
587
682
712
818
699
618
553
500
654
515
493
576
384
426
1,136
1,094
648
467
481
1,080
1,102
1,131
1,186
63.55
64.45
66.16
66.36
67.66
68 23
751
760
732
709
510
680
738
689
675
524
743
673
781
777
528
769
742
633
654
590
660
754
572
634
550
159,395
153, 017
37, 755
156, 666
155, 878
39,323
185, 716
184, 443
39, 879
164, 862
162, 975
40, 435
7 575
15, 800
6,300
6,600
3,250
6 600
16, 575
6,250
5,925
3,550
7 175
17, 350
6,525
6,575
3.650
6 175
17, 575
6,800
6,225
4.275
561
388
469
685
588
557
702
721
666
714
795
699
592
702
591
r
597
303
732
645
694
626
1,703
9,842
1 743
8 099
1,771
69. 872
67. 292
152. 151
149. 144
511
438
611
581
499
334
728
827
723
775
745
652
1 282
1 386
1 479
1,590
1 664
1 675
1 599
70 42
78 04
72 09
71 03
69 93
69 59
68 00
575
745
577
591
530
667
700
649
658
594
705
626
793
760
682
627
587
704
634
746
585
496
699
647
849
460
426
617
522
907
561
444
581
545
958
618
499
516
941
151, 364
150, 924
40, 778
150, 187
149, 742
41, 425
122, 386
118, 426
44 397
174,062'
172 313
46 571
181, 567
174, 857
54 082
185, 695
183 816
55 307
174, 243
163 909
64 609
157, 748
158 394
64 222
118, 237
109 826
72 293
5 950
17, 225
6,200
5,925
4.475
6 175
15, 975
7,350
6,750
4.925
6 075
16,000
5 800
5 650
4.975
5 800
15 675
6 275
6 375
4.500
5 050
15 050
6 225
4 900
R. 775
4 250
13 350
6 000
5 800
5.900
3 925
12 000
• 5 875
4 925
6. 825
638
422
411
589
223
29^1
54.3
SOFTWOOD PLYWOOD
Production
thous. of sq. ft., %" equivalent..
Shipments
do _
Stocks, end of month
do
HARDWOOD FLOORING
Maple, beech, and birch:
Orders, new
Orders, unfilled, end of month
Production ...
_ _
Shipments
Stocks, end of month
_
r
M bd ft
do
do
do
...do
3
10
5
4
925
025
550
700
7 4'2*
3
4.7^
9 300
4 200
3 900
7. son
Revised.
fRevised series. Beginning in the July 1948 Survey data for 1948 for orders, production, shipments, and stocks of Western pine and west coast woods have been revised because of changes
in the regions covered. The revised figures for Western pine include all production in Wyoming,Utah and Colorado (formerly only parts of these Stajtes were included) and only pine production,
instead of total production as formerly, in two counties of Oregon which now produce largelyDouglas fir; data for west coast woods have been revised to include fir in these two counties
<7The figures include a comparatively small number of "other footwear" which is not shown separately from shoes, sandals, etc., in the distribution by type of uppers; there are further
small differences between the sum of the figures and the totals for shoes, sandals, and play shoes, because the latter, and also the distribution by kinds, include (except for the latest month),
small revisions not available by type of uppers.
SURVEY OF CUERENT BUSINESS
S-32
Unless otherwise stated, statistics through
1946 and descriptive notes may he found in
the 1947 Supplement to the Survey
March 1949
1949
1948
January
February
March
April
May
July
June
August
September
October
November
December
January
67, 943
51, 209
76,000
71,831
28, 548
62,568
45, 223
74, 422
70, 951
32, 019
58, 507
41, 161
73, 784
66, 185
39, 618
51, 806
34, 730
67, 849
58,237
49,230
54,851
32, 389
62, 043
56, 378
54, 895
377 496
19 181
162 035
77, 598
281, 097
27 498
119, 605
70,886
462, 810
16 010
181 716
76, 214
LUMBER AND MANUFACTURES—Continued
HARDWOOD FLOORlNG-Continued
Oak:
Orders, new
Orders, unfilled, end of month
Production
Shipments
Stocks, mill, end of month
M bd. ft .
do
do
do
do _
62, 057
54, 455
61, 152
61, 894
14, 605
56, 814
58, 129
57, 955
57, 078
15, 482
59, 988
55,320
64,991
62, 797
15,626
64, 784
59, 397
67, 541
65, 226
17, 941
60,293
60,819
65, 616
63, 449
19, 654
65, 579
57, 391
70, 213
69,007
20, 860
71,328
58, 134
76, 375
73, 575
22, 565
71, 440
55,098
76, 290
74, 476
24, 379
METALS AND MANUFACTURES
IRON AND STEEL
Foreign trade:
Iron and steel products (excl. advanced mfrs.) :
Exports, total c?
short tons .
Scrap
do
Imports, total
do
Scrap
„- _
_ ._
do
r
542, 751
14, 701
21,323
5,149
486, 956
21, 784
15, 245
4,219
494,766
22 Oil
45, 672
19,973
438,560
28 986
48, 798
15,803
381, 707
19,675
27, 982
11, 509
380, 391
21, 512
55,263
19, 979
5,294
, 2, 789
2,505
3,976
1,284
2,692
5,082
2,640
2,442
3,936
1,196
2,740
5,875
2,890
2,985
4,064
1,161
2,903
5,217
2,445
2,772
4, 571
1,196
3,375
5,588
2,715
2,873
4,654
1,147
3,507
5,401
2,651
2,750
4,922
1,222
3,700
5,050
2,518
2,532
5,118
1,2723,846
5,309
2,603
2,706
5,389
1,401
3,988
5,410
2 718
2 692
5,601
1 505
4 096
5,783
2 914
2,869
5,675
1,511
4,164
5,656
2 867
2 789
5,792
1 491
4,301
2,757
1,496
6,790
2,686
1,481
8,009
3,019
1,707
9,186
8,687
9 485
8,388
11, 865
12,537
7,716
12, 578
13, 252
7,049
12, 787
13, 491
6,349
12, 748
12, 492
6,605
r n 942
12 ? °04
6 353
10 003
11 150
5 206
8,577
9 329
4,455
0
7,057
29,081
25, 205
3,877
337
0
6,441
22, 628
19,412
3,216
269
0
6,634
16, 022
13, 761
2,262
379
7,677
4 976
17, 125
15 172
1,953
403
11,609
6,656
22, 058
19, 885
2,173
441
11, 727
6,577
26, 965
24, 308
2,657
707
11, 821
6,479
32, 611
29, 419
3,191
489
11, 735
7 036
37, 081
33 236
3,845
T
571
83
50
68
47
39
62
46
48
2,769
1,024
571
2,726
1,169
660
2,691
1,051
585
2,602
993
556
2,587
1,072
598
2,601
914
490
46, 270
209, 447
75, 194
42,582
43, 921
203, 351
86, 767
50,017
42, 168
199, 578
80,602
45, 941
34,236
191, 553
76, 079
42, 261
35, 320
178, 760
81, 747
48, 113
4,780
4,762
5,020
5,049
3 840
3,958
5,077
5,008
4 991
4,973
366, 149 ' 343, 655 ' 326 129
10,844
28 550
11 073
67, 741
50, 754
129 400
26, 449
15, 260
72,034
Iron and Steel Scrap
Consumption, total
thous. of short tons. _
Home scrap
do
Purchased scrap __
. . _
do
Stocks, consumers', end of month, total
_do
Home scrap.
.
_
do
Pur chased scrap...
do
Ore
Iron ore:
All districts:
Production.
>_ __
thous. of long tons _
Shipments
do
Stocks, end of month .
do
Lake Superior district:
Shipments from upper lake ports
do
Consumption by furnaces
do
Stocks, end of month, total
. do
\t furnaces
do
On Lake Erie docks
do
Imports
do
Manganese ore, imports (manganese content)
thous. of long tons__
o
029
273
883
619
264
950
7 239
r 7 058
45 160
39 470
5 690
630
501
7 351
39 460
34 557
4,903
388
38
55
35
58
2,599
1 051
598
2 587
1 088
616
2 523
1 148
642
2 407
1 100
606
2,284
1 111
625
2 065
1 040
573
36,601
180, 421
64, 995
34, 940
37, 491
176 824
73 273
41 088
31, 059
164 002
77 824
43 881
38,654
158 351
81 761
44' 305
30, 312
146 422
77 234
42 241
34, 449
137 485
79 871
43 386
26, 948
126 393
71 876
38 040
4,900
4,841
5 255
5,216
5 208
5 180
5 520
5,491
5 399
5 344
5 595
5 725
976
46 00
i 47 59
i 46. 50
i 46 00
i 47 59
i 46. 50
i 46 00
i 47 65
146.50
10
6
40
36
4
599
965
923
658
265
541
10
7
43
38
5
7 590
31 904
27 882
4' 022
Pig Iron and Iron Manufactures
Castings, gray iron:
2,803
Unfilled orders for sale
thous. of short tons._
1<064
Shipments, total
__
do _
584
For sale
do
Castings, malleable iron:
Orders, new, for sale
short tons.. 49, 159
Orders, unfilled, for sale...
_
do_ . 205, 759
77, 744
Shipments, total
do
45, 808
For sale
do
Pig iron:
Production^
thous. of short tons
5 128
Consumption
do
5,167
Stocks (consumers' and suppliers'), end of month
794
thous. of short tons..
Prices, wholesale:
38.88
Basic (furnace) O
dol. per long ton
40.28
Composite©
do
Foundry, No. 2, f. o. b. Neville Island©._do
39.50
799
780
688
712
745
39.00
40.63
39.50
39.00
40.63
39.50
39.00
40 63
39.50
39.00
40.97
39.50
39 00
41 29
41.90
141, 068
108, 282
35, 129
142, 434
107, 762
34,800
162, 891
125, 550
41, 876
150 305
114, 896
36, 079
143, 337
111,616
39, 275
618, 155
517, 307
100, 848
118, 534
89, 677
28,857
630, 860
523, 319
107, 541
116, 676
86, 592
30, 084
641, 110
525, 543
115, 567
131,111
95. 008
36, 103
628, 123
513, 980
114, 143
114, 314
79, 651
34,663
7,473
94
6,940
93
7,608
95
.0368
.0373
45.00
.0280
47.70
.0293
40.30
40.44
40.25
818
913
42. 00
43 26
142.50
i 43 oo
i 45 32
i 45. 70
i 43 oo
i 45 44
1
46. 50
1,049
i 45 63
i 47 00
M6.50
152 894
117, 794
41 587
120 445
87, 927
28 422
140 223
107 538
35 056
149 222
112 551
36 457
152 983
114 819
38 833
146 835
110 275
36 014
157 395
116 285
38 730
140 577
103 503
31 891
623, 620
509, 576
114,044
108, 546
75, 983
32, 563
64P, 747
529 237
111, 510
119 532
83 366
36, 166
627, 131
515 619
111,512
97, 455
70 fi62
26,793
634 148
521 205
112, 943
111 097
79 212
31 885
631 032
520 585
110, 447
120 882
87 075
33 807
604 715
495 672
109, 043
123 161
88 198
34 963
620 503 r 600 500
508 339 r 493' 487
112, 164 r 107, 013
123 914 r 131 544
87 757 r 94 487
36 157 r 37 057
570 665
469 059
101, 606
124 5^2
90 093
34 489
6 218
80
7 572
95
7 256
94
7 067
89
7 438
93
7 416
96
7 987
100
r
.0376
.0376
.0368
.0368
1.0386
1
. 0414
i. 0414
. 0414
1.0414
1.0414
1.0419
50.40
.0305
50.40
.0305
50.40
.0300
50.40
.0300
i 52. 36
i . 0313
i 58. 24
1.0350
i1 58. 24
. 0350
i 58. 24
1.0350
i1 58. 24
. 0350
i 58. 24
1.0350
i 58. 24
i. 0350
40.25
40.25
40.25
40.75
42.75
42.75
42.75
42.75
42.75
42.05
1
1
1,043
1
Steel, Crude and Semimanufactures
Steel castings:
Shipments, total
short tons
For sale, total _'_
..
do
Railway specialties. _
do
Steel forgings, for sale:
Orders, unfilled, total
do. .
Drop and upset
__
do
Press and open hammer..
do
Shipments, total
___ do
Drop and upset
do
Press and open hammer _.
do
Steel ingots and steel for castings:
Production
thous. of short tons
Percent of capacity J
Prices, wholesale:
Composite, finished steelQ.
.dol. per lb_.
Steel billets, rerolling (Pittsburgh)©
dol. per long ton._
Structural steel (Pittsburgh)©
dol. per lb_.
Steel scrap, heavy melting (Pittsburgh) §
dol. per long ton..
1
7 788
101
r
7 77J
r 98
8 183
100
Steel, Manufactured Products
Barrels and drums, steel, heavy types:
Orders, unfilled, end of monththousands
12, 191
11, 889
11, 528
11,471
11 104
10, 810
10 765
10 204
9 485
9 606
9 321
10 041
Shipments
do
2, 239
2,098
2,516
2,290
2,019
2, 244
2,084
2 306
2 336
2 165
2 307
2 461
34
Stocks, end of month...
do
24
18
20
22
20
26
21
35
25
' 30
27
r
Revised.
i See note marked "©".
cTData for January 1947-August 1948 for total exports of iron and steel products shown in the November 1948 and earlier Surveys should be corrected by subtracting the amount for scrap
•exports; the data for scrap exports were incorrectly included twice in the figures for total exports.
I For 1949, percent ol capacity is calculated on annual capacity as of January 1,1949, of 96,120,930 tons of steel; 1948 data are based on capacity as of January 1,1948, 94,233,460 tons.
© The basis of price quotations for pig iron and steel was changed from basing point to f. o. b. mill or shipping point effective July 13,1948. Specifications for the structural steel priceseries
were revised in February 1948; however, the January price on both the new and old basis was $0.0280.
§ January-June 1947 data for steel scrap prices are shown on p. S-32 of the November 1948 Survey.
SURVEY OF CURRENT BUSINESS
March 1949
Unless otherwise stated, statistics through
1946 and descriptive notes may be found in
the 1947 Supplement to the Survey
S-33
1948
January
February
March
April
May
June
1949
July
August
September
November
December
296, 226 r 235, 565
209, 507 r 153, 868
86, 719
81, 697
258, 390
202, 567
885
860
27, 613
24,040
266, 200
186, 601
79, 599
230, 933
931
21, 857
5,732
534
614
629
190
1,418
165
146
368
315
417
6,056
557
637
658
190
1,476
155
143
394
400
430
50, 714
227,583
' 53, 474
218, 591
October
January
METALS AND MANUFACTURES—Continued
IRON AND STEEL— Continued
Steel, Manufactured Products—Continued
Cans, metal, shipments (in terms of steel consumed), total-.
.__ ..short tons__
Food
do
Nonfood
_
__ _ __ do
Shipments for sale
do. .
Commercial closures, production
millions
Crowns, production
thousand gross
Steel products, net shipments:
Total
. -_
thous. of short tons.
Bars hot rolled carbon
do
Pipe and tubes
_ .
.
do _ Plates
do
Rails
_.
...do ...
Sheets
do
Strip — Cold rolled
. do _ _
Hot rolled
do
Structural shapes, heavy
. do
Tin plate and terneplate
do
Wire and wire products
do
r
r
r
207, 674 r 208, 596
134, 396 ' 143, 192
65, 404
73, 278
165, 845
170, 374
980
993
32, 454
29,356
219, 356 r 284, 040
158, 200 ' 207, 228
61, 156
76, 812
175, 999
239, 408
888
915
28,232
29,400
216, 511
134, 651
81, 860
182, 425
797
29, 459
202, 518
125, 763
76, 755
170, 883
847
28,002
5,410
521
541
530
201
1,384
146
146
334
267
429
5,046
518
519
538
172
1,198
127
136
324
247
396
5,979
560
613
630
206
1,410
158
141
382
393
449
5,096
481
518
528
145
1,310
148
132
302
310
395
5,321
484
547
563
179
1,314
142
127
362
322
409
45, 699
153, 706
51, 874
217, 907
53, 277
166,961
.0725
.0725
173.9
38.0
136.0
105.7
.302
200.9
41.8
159.1
126.7
.302
68,943
74, 092
r
310, 007
235, 530
74, 477
274, 083
847
26,095
394, 582
309, 847
84, 735
350, 487
938
29, 503
405, 787
320, 616
85, 171
351, 627
893
27, 463
5,477
525
565
592
189
1,302
152
139
372
334
429
5,230
477
544
565
167
1,333
121
129
354
337
327
5,329
480
563
553
178
1,328
156
130
336
343
389
5,511
523
583
572
184
1,360
150
141
334
334
408
5,952
535
638
641
190
1,463
161
154
392
350
436
55,450
244, 852
48, 557
192, 524
52,937
157,183
54, 953
260, 796
53,255
200,113
54, 526
231, 097
.0741
.0815
.0884
.1087
.1084
.0996
.0995
.1241
.1325
.1263
177.2
38.3
139.0
106.7
.302
167.2
33.9
133.3
101.9
.302
177.6
35.8
141.8
106. 9
.304
160.0
28.9
131.0
99.4
.314
167.3
32.1
135.2
103.2
.338
166. 9
35.9
131. 0
104.6
.338
174.2
35.5
138.6
109.7
.338
164.3
34.6
129.8
99.2
.341
157.7
31.8
125.9
94.5
.346
148.4
29.1
119.3
90.2
.346-
69,639
68,256
51, 318
50,668
81, 474
88, 105
102, 976
101, 436
122, 938
112, 580
72, 215
76, 371
12, 085
17,861
r
35, 329 rr 36, 868
' 13, 960 14, 898
21, 369
21,970
.2320
.2320
58, 297
102, 779
99, 655
89, 756
11, 636
35, 491
18, 210
17, 281
.2320
r 64, 451
96, 117
102, 292
96, 080
13, 725
52, 257
23, 898
28, 359
.2320
r
NONFERROUS METALS AND PRODUCTS
Aluminum:
Production primary •
short tons
48, 767
Imports bauxite
- long tons. . 217, 602
Price, wholesale, scrap castings (N. Y.)
dol. per lb__
.0711
Aluminum fabricated products, shipments, total
mil. of lbs_.
177. 5
37.9
Castings
do
139.6
Wrought products, total
do
109.7
Plate, sheet, and strip
do
.296
Brass sheets, wholesale price, mill.
dol. per lb_.
Copper:
Production:
Mine production, recoverable copper •
short tons—
73,150
Crude (mine or smelter, including custom in82, 427
take)cf
_ _- -short tons. _
102, 314
Refined c?
do
118, 855
Deliveries, refined, domesticcT do
71, 533
Stocks, refined, end of month <?
do
18, 013
Exports refined and manufactures
do
30, 435
Imports, total
do
Unrefined including scrap O
do
13, 041
17, 394
Refined
.
do _
.2120
Price, wholesale, electrolytic (N. Y.)..dol. per lb_Lead:
Ore (lead content) :
33, 306
Mine production . . .
. short tons
32, 019
Receipts by smelters, domestic ore
do
Refined:
50, 821
Production, total
do
47, 421
Primary
_
._
do
51, 958
Shipments (domestic) . ._»_
...do. __
20, 645
Stocks end of month
do
Price, wholesale, pig, desilverized (New York)
.1500
dol. per lb_.
Imports, total, except mfrs. (lead content)
15, 784
short tons..
Tin:*
3,452
Production, p i g
_ _ _ _ _ _ long tons
5,604
Consumption, pig__
-do ...
41, 386
Stocks, pig, end of month, total
do
27, 674
Government
do ...
13,712
Industrial
do
Imports:
2,201
Ore (tin content)
do
4,653
Bars, blocks, pigs, etc
do
.9400
Price, wholesale, Straits (N. Y.)
dol. per lb._
Zinc:
48,124
Mine production of recoverable zinc, .short tons..
Slab zinc:§
72, 776
Production§
- do
86, 000
Shipments total §
do
66, 174
Domestic!
. -.
._ do
Stocks, 6nd of month §
do
55,423
Price, wholesale, prime Western (St. Louis)
dol. per lb__
.1108
Imports, total (zinc content) _ _
short tons
12, 660
121
For smelting, refining, and export
do
For domestic consumption:
Ore (zinc content) _ .
.
do
7,958
4,581
Blocks, pigs, etc
.
do
82, 959
93,588
106, 823
70, 146
18, 297
46, 638
25, 171
21, 467
.2120
74, 344
74, 779
75, 596
71,341
73,540
88, 741
83,909
104, 044
110, 886
116, 475
122, 988
67, 257
68, 582
23, 272
15, 043
'r 46, 981 37, 727
26, 008
18, 763
18, 964
20, 973
.2120
.2120
91, 819
104, 524
113, 389
72, 791
19, 861
33, 271
15, 673
17, 598
.2120
87, 678
105, 221
112,677
72,315
21, 079
46, 840
28, 914
17, 926
.2120
81, 473
107,014
108, 277
79, 277
15, 069
T
46, 684
r
21, 661
25, 023
.2138
89, 165
102, 798
107,496
79, 579
20, 623
39, 736
17, 922
21,814
.2309
r
r
r
69, 973
78, 298
96, 070
91,053
.232Q
32, 407
32, 414
35, 802
34, 185
35, 512
35, 362
33, 219
37, 625
34,090
34, 689
22, 935
24, 597
22,853
23,141
26, 480
24, 849
34, 852
35, 392
36, 504
35, 337
36, 997
38, 357
32, 307
43, 598
40, 400
47, 200
17, 034
50, 093
46, 579
52, 287
14, 837
49, 652
46, 577
45, 031
19, 453
50, 626
47, 144
47, 652
22, 418
47, 227
44, 846
46, 398
23, 240
40,458
38, 371
40, 853
22, 846
29, 558
27, 923
33, 433
18, 971
37, 105
34, 037
35, 067
21,003
46, 787
43,857
39,875
27, 553
47, 029
44, 534
40, 289
34, 192
52, 315
49, 667
45, 856
40,647
51, 230
48, 775
52, 716
38, 656
.2150
.1500
.1500
.1721
.1750
.1750
.1781
.1950
.1950
.1950
.2150
.2150
26, 718
20, 873
21, 749
18, 627
13,331
30, 255
24, 929
33, 183
40,666
32, 753
52, 809
3,048
5,004
41,714
27, 086
14, 628
2,836
5,498
41,400
26, 814
14, 586
3,208
5,662
42, 597
27, 956
14, 641
3, 576
5,051
47, 136
32,^7
14,6^9
3,907
5,629
50, 222
35, 701
14, 521
3,724
5,368
50, 890
37, 118
13, 772
3,796
5,788
53, 380
39, 911
13, 469
3,118
5, 527
54, 614
41, 575
13, 039
2,597
5,354
57, 978
44,814
13, 164
3,244
5,179
60, 064
46, 454
13, 610
3,436
5,203
39,314
24, 322
14, 992
3,668
1,539
.9400
3,595
2,294
.9400
2,137
3,318
.9400
1,335
6,026
.9400
5,194
4,979
1.0300
3,891
2,750
1.0300
4,227
3,789
1. 0300
2, 019
4,280
1.0300
1,028
5,625
1. 0300
2,999
2,433
1. 0300
4,194
7,111
1. 0300
47, 612
54, 545
53, 042
50, 974
51, 221
46, 598
49, 193
52, 231
52,860
55, 005
55, 141
67, 917
74, 697
63, 592
48, 643
74, 322
77, 334
65, 334
45,631
71, 500
73, 915
64, 801
43, 216
73, 885
72, 848
67, 291
44, 253
68, 309
69, 402
61, 195
43, 160
69, 888
67, 377
61, 349
45, 671
68, 180
68, 605
63, 712
45, 246
64, 721
68, 850
60,990
41,117
70, 716
67, 402
61,751
44, 431
71,195
96, 142
66, 211
19, 484
' 76, 696
' 75, 332
r 67, 996
20, 848
75, 815
76,234
62, 614
20, 429
.1200
22, 617
6,240
.1200
21, 663
2,070
.1200
21,097
5,717
.1200
24, 696
5,962
.1200
26, 903
3,551
.1246
24, 174
3,016
.1500
24, 373
3,005
.1500
21, 697
2,440
.1524
24,904
1,850
.1679
32, 323
2,609
.1750
20,165
4,057
.1750
10, 580
5,797
10, 487
9,106
4,498
10, 882
11, 209
7,525
17,306
6,046
13,915
7,243
11, 583
9,785
10, 858
8,399
12, 427
10, 627
17, 073
12,641
5,919
10, 189
'
1.0300
HEATING APPARATUS, EXCEPT
ELECTRIC
Boilers, radiators and con vectors, cast iron:
Boilers (round and square):
19, 752
22, 018
18, 660
19, 699
Shipments
.
.. .thous. of Ib
13, 867
18,005
14, 192
15, 953
33,237
35,353
31, 343
21, 223
65, 676
57, 443
68,669
Stocks, end of month
_ do
46, 774
71, 262
78, 834
84, 686
73, 791
68, 752
62, 199
64, 465
69, 092
Radiation:
4,794
5,485
5,010
5,123
3,321
Shipments
thous. of SQ. ft
5,181
4,115
5,303
5, 475
6,106
5,191
5,228
2,664
Stocks, end of month.
do
3,015
3,064
2,536
3,272
3,495
3,069
3,079
3,551
3,389
5,101
3,268
r
Revised.
cf Data beginning January 1947 as shown in the December 1947 Survey and later issues include copper from all sources; the November 1947 Survey provides January-March 1947 figures
for domestic and duty-free foreign copper only, comparable with earlier data; the excise tax on copper was removed April 1,1947.
§ Beginning January 1948 data include reports from some secondary redistillers not previously reporting; production by these few plants averaged about 1,200 short tons monthly in 1947.
Total shipments of zinc include beginning August 1947 shipments for Government account in addition to shipments to domestic consumers and export and draw-back shipments.
• For January-June 1947 data for the indicated series, see note for aluminum, copper, and tin at the bottom of p. S-35 in the November 1948 Survey.
©Includes data shown in the November 1948 Survey and earlier issues as copper "For smelting, refining, and export;" since removal of excise tax on copper in April 1947, only a part of the
copper for smelting, refining, and export has been reported separately from copper for domestic consumption.
SURVEY OF CURRENT BUSINESS
S-34
Unless otherwise stated, statistics through
1946 and descriptive notes may he found in
the 1947 Supplement to the Survey
March 1949
1948
January
February
March
April
May
June
1949
July
August
September
October November
December
January
METALS AND MANUFACTURES—Continued
HEATING APPARATUS, ETC.—Continued
51,722
Boilers range shipments *
number _
Oil burners:
1-24, 136
Orders new netO
do
115, 859
Orders unfilled, end of month©
do
38, 945
ShipmentsO
do_
47, 031
Stocks endofmonthQ
. _
do
Stoves and ranges, domestic cooking, exc. electric:
Shipments total*
number. _ 288, 203
29, 955
Coal and wood*
do
210, 865
Gas (inc bungalow and combination) * do
47, 383
Kerosene, gasoline, and fuel oil*
_ _ do
316, 254
Stoves domestic heating shipments, total* do _
44,825
Coal and wood*
.
-_ --do
141,084
Gas*
do
130, 345
Kerosene gasoline, and fuel oil*
do
Warm-air furnaces (forced-air and gravity-air flow),
46,590
shipments total
number 10, 822
Gas
- -- _-do
16, 354
Oil
do
19, 414
Solid fuel
do
1
176, 736
"Water heaters nonelectric shipments*
do
52, 592
58,908
52,045
41, 110
40, 294
12, 335
103, 978
24, 174
57, 107
9,472
94, 897
18, 219
66,297
6,083
79, 942
21, 745
75, 068
9,094
64, 343
25, 396
72, 438
2 26, 512
62,947
27, 948
70, 017
67,222
30, 800
61, 909
71,084
50, 082
49, 183
71,052
56,228
44,449
63,198
59, 351
41, 366
312, 406
32, 169
223, 756
56,481
261, 925
47, 181
104, 176
110, 568
352, 613
31, 633
252, 036
68, 944
267, 649
46, 316
113, 551
107, 782
326, 149
23, 589
247, 403
55, 157
283, 028
40,065
133, 401
109, 562
317, 531
19, 724
252, 929
44, 878
310, 479
51,072
161, 049
98, 358
319, 642
20, 068
259, 675
39, 899
379, 525
69, 013
170, 523
139, 989
256, 618
20,131
201, 532
34, 955
466, 442
101, 408
179, 778
185, 256
304, 914
27,607
248, 663
28, 644
714, 461
171, 664
277, 492
265, 305
314, 727
27,803
260, 508
26, 416
728, 004
191, 638
254, 305
282,061
36, 345
9,313
7,645
19, 387
159, 007
39, 297
9,890
8,105
21, 302
173, 291
45, 597
12, 454
9,931
23, 212
173, 438
55, 473
13, 617
11, 261
30, 595
161, 358
64,724
17,269
11,923
35,532
167, 329
57, 292
14, 976
12, 881
29, 435
160, 415
92,011
20,792
23,426
47,793
208, 855
103, 566
23, 714
26, 658
53, 194
196, 704
30,817
52,231
39,798
43,417
38, 973
33,850
57, 087
39, 690
42, 773
51, 499
27, 329
45,902
304, 971
25, 480
259, 513
19, 978
750, 738
213, 754
271, 543
265, 441
258, 193
20,832
215, 715
21, 646
509,780
147, 042
189, 515
173, 223
175, 615
16, 536
136, 683
22,396
250, 142
79, 628
98, 712
71, 802
107,024
24, 862
26,718
55, 444
172, 366
77, 498
17,403
19, 981
40, 114
142, 474
51, 521
13, 255
15, 715
22, 551
116,204
T
T
r
r
MACHINERY AND APPARATUS
Blowers, fans, and unit heaters, quarterly:
Blowers and fans new orders
thous of dol
TJnit heater group new orders
do
Poundry equipment (new), new orders,
net
1937-39*100
Machine tools shipments*
1945-47= 100. _
Mechanical stokers, sales:
Classes 1 2 and 3
. number. .
Classes 4 and 5:
Number
_
.
Horsepower
- -Pumps, steam, power, centrifugal and rotary, new
orders
thous. of dol_.
Scales and balances (except laboratory), shipments,
380.9
75.3
367.3
87.1
r 13, 739
f
11, 811
12, 355
6,686
11, 809
6,467
326.2
83.6
412.0
82.0
388.5
82.6
376.8
94.4
456. 3
62.4
324.7
69.8
273.5
84.7
12 089
11 116
296.0
80.4
284.4
76.2
r
243.7
96.9
P68.8
2, 851
1,992
52, 734
2,685
4,316
5,090
4,548
6,314
7,802
8,428
10, 576
13, 755
10,685
4, 765
168
249
370
88,803
76, 774
248
78, 391
402
74,552
391
74, 488
333
70,694
399
78, 197
336
92,642
313
64, 870
191
68,150
46, 679
245
63,206
3,819
3,635
4,703
4,312
3,724
3,512
4,075
4,520
3,474
3,571
3,580
4,263
3,390
194
212,628
ELECTRICAL EQUIPMENT
Batteries (automotive replacement only) , shipments
thousand s._
Domestic electrical appliances, sales billed:
Refrigerators index*
1936=100
Vacuum cleaners standard type
number
Washers
do.
Turnaces, electric, industrial, new orders:
Unit
kilowatts.
Value
.
- thous. of dol__
Insulating materials and related products:
Insulating materials sales billed index 1936 — 100
Fiber products:
Laminated fiber products, shipments
thous. of dol. _
Vulcanized fiber:
Consumption of fiber paper
thous. of lb__
Shipments of vulcanized products
thous. of dol..
Steel conduit (rigid) and fittings, shipments
short tons._
Motors and generators, quarterly:
New orders, index
1936=100
Polyphase induction motors, 1-200 h. p.:§
New orders
thous. of dol
Billings
.
- .do.
Direct current motors and generators, 1-200 h. p.:§
New orders
thous of dol
Billings
«
do
2,394
2,254
1,679
1,211
1,027
1,200
1,506
2,519
2,643
. 2,845
'2,541
'1,905
1,252
182
304 273
360, 445
188
311, 448
367, 909
246
355, 415
408, 512
221
306, 588
402,257
211
276, 657
377,896
247
266, 071
392,496
232
229, 537
326, 181
186
237,202
362, 169
226
280, 084
433, 919
250
281, 573
382, 400
245
255, 080
319, 300
274 180
183, 700
177,900
4,083
550
2,692
310
4,487
776
4,328
436
5,166
4,845
383
4,853
390
3,902
363
7,413
528
5,229
538
3,110
4,960
690
9,328
948
356
351
898
371
344
352
323
354
387
390
4,221
4,162
4,693
4,310
4,118
4,393
4,127
4,286
4,783
4,922
4,966
4,862
4,462
5,065
4,532
5,200
5,317
4,925
4,043
3,775
5,113
3,632
4,80?
4,259
4,328
4,424
599
273
391
1,540
1,461
1,742
1,686
1,500
1,338
1,430
1,618
1,602
1,597
1,568
1,525
1,518
20,882
22,730
23, 194
24,653
22,416
22, 704
23,072
19,241
22,456
24,588
27,650
28, 113
22, 705
295
329
22, 871
32, 622
25, 841
32, 954
""•
5,068
5,059
282
r
22, 168
27, 669
r
6,144
5,078
24 697
29,090
6, 045
4,997
5,016
6 708
PAPER AND PRINTING
PULPWOOD AND WASTE PAPER
Pulpwood:
Receipts
thous. of cords (128 cu. ft.)
Consumption
. .
.
do
Stocks, end of month
_
_._
do
Waste paper:
Receipts
short tons._
Consumption
__ _
do
Stocks, end of month
do
1,813 .
1,734
4,646
614, 143
674, 747
458,366
1,646
1,589
4,698
1,893
1,778
4,790
1,580
1,762
4,607
1,675
1,850
4,421
1,903
1,767
4,543
2,109
1,694
4,956
2,242
1,882
5,311
2,063
1,725
5,641
2,041
1,895
5,778
1,658
1,822
5,608
£95, 355
618, 324
429, 676
718, 411
704, 677
441,335
687, 267
684,277
443, 742
658, 004
655, 855
445, 216
645, 879
624, 008
461, 744
577, 204
543, 385
496, 475
587, 319
607, 408
474,378
603, 789
599, 249
477, 088
644, 603
629, 100
487, 986
627,082
617, 171
498, 301
!,&
1,688
5,622
586, 333
566, 153
516, 620
r
2
Revised. *> Preliminary. l Cancellations exceeded new orders.
Series discontinued by compiling agency,
§The number of companies reporting beginning 1947 is as follows: Direct current-first quarter 1947, 28; second and third quarters 1947, 30; thereafter, 29; polyphase induction—first quarter
1947,
and third quarters 1947,
th(
., 34;, second
...
- - , - 36;
- , fourth -,quarter 1947,
, 35;
J thereafter,
33.
©Data revised to exclude figures for water heating units; comparable data for January to August 1947 are shown on p. S-34 of the November 1948 Survey. Revised ^figures for 1945 and
1946 will be shown later; previous to 1945 water heating units were not called for on the schedule but were largely reported in data for residential burners shipped separately. Collection of
data on new orders has been discontinued.
• Data for January-June 1947 for refrigerators sales index are shown on p. S-34 of the November 1948 Survey.'
*New series. Data on shipments of cooking stoves and ranges, heating stoves, range boilers, and water heaters have been substituted for production data, collection of which has been
discontinued. It should be noted that for range boilers and water heaters, shipments data have been shown in previous issues of the monthly Survey beginning with the March 1947 issue;
however, production data were substituted in the 1947 Supplement because available for a longer period than shipments. Monthly shipments for September 1943-June 1947 for stoves and
ranges and September-December 1945 for range boilers and water heaters are available upon request. The index of machine tool shipments, computed by the National Machine Tool Builders
Association beginning January 1945, has been substituted for estimates of total shipments which have been discontinued by the association; the index is based on reports estimated to account
for about 90 percent of industry shipments.
SURVEY OF CUKKENT BUSINESS
March 1949
Unless otherwise stated, statistics through
1946 and descriptive notes may be found in
the 1947 Supplement to the Survey
S-35
1949
1948
January
February
March
April
May
June
July
August
September
October
November
December
1,021
102, 755
369, 104
146, 022
69,940
41, 248
178,992
65, 663
January
PAPER AND PRINTING—Continued
WOOD PULP
Production:
Total all grades
thous. of short tons
Bleached sulphate
short tons
Unbleached sulphate.
_- do_._
Bleached sulphite
do
Unbleached sulphite.
-.do _ _
Soda
__
do
Groundwood
. -. do_. Defibrated, exploded, etc
do
Stocks, end of month:
Total all grades
- do Bleached sulphate ..
.
.do
Unbleached sulphate
do
Bleached sulphite
.
_ -_ do__ .
Unbleached sulphite
do
Soda
do ._Groundwood
do
Exports, all grades, total
-_ do
Imports, all grades, total _ _ _
do
Bleached sulphate
-- do .
Unbleached sulphate
do
Bleached sulphite
.
.
. d o __
Unbleached sulphite
do
Soda
-do
Groundwood
do
1,054
102, 641
373, 277
164, 244
82, 206
43, 933
161, 067
79, 051
961
95, 088
321, 089
157, 233
76, 586
39, 762
153, 488
75,000
1,086
105, 190
390, 188
168, 923
80,127
42, 598
170, 230
81, 388
1,081
102, 841
384, 106
161, 535
76,564
43, 119
184, 129
81, 521
1,127
107, 217
412, 959
162, 481
75, 857
44, 385
191, 151
82,366
1,090
104, 269
401,306
156,276
73, 867
43, 576
184, 684
81, 567
1,019
98, 163
373, 775
147, 566
66, 852
38, 110
173,839
75, 256
1,145
11.2, 015
434, 807
164, 355
71, 223
43, 586
184, 401
82, 615
1,055
104, 289
385, 829
153, 535
70, 195
41, 582
171, 695
81, 139
1,157
116, 651
435, 079
163, 846
76, 687
44, 069
184,393
82, 936
1,118
116,910
414. 298
159, 849
76, 589
42, 476
188, 297
73, 558
91, 271
6,316
11, 786
28, 933
16, 103
3,020
20, 368
11, 089
187, 293
20, 898
38, 625
36, 541
63, 234
1. 884
25,053
94, 543
7,558
11, 551
30, 525
14, 427
3,454
22, 316
' 13, 722
215, 851
19, 886
45, 033
42, 375
88,126
1,959
17, 138
89, 211
6,464
12,084
22, 543
14,652
3,363
24,776
4,850
208, 180
26, 250
38, 667
58, 216
57, 794
2,414
23,385
96, 598
7,127
10,553
22, 317
14, 566
3,362
32, 460
6,396
171,010
18, 420
26, 148
43, 502
50,537
1,674
29,532
105, 018
7,665
9,637
23, 219
16, 401
3,325
38, 325
9,326
205, 959
27, 089
31, 470
50,574
65, 993
1,795
27,864
102, 766
9,044
8,309
21, 167
16, 291
3,318
38,058
10, 309
213, 200
32, 847
30, 322
52, 490
60, 443
2,542
33,183
96, 310
7,664
11, 437
18, 217
16, 496
2, 829
32, 507
9,606
183, 646
27, 214
26, 007
49, 082
56, 706
2,000
21, 795
98, 640
8,669
13,937
20, 624
16, 652
2,981
28, 260
»• 9, 865
179, 342
23,669
27, 159
46, 570
55, 711
2,255
23,264
99, 177
9,774
16, 053
19, 920
19,057
2,967
23,512
' 2, 455
154,783
25,032
14,999
49, 396
40, 698
1,899
21,905
103, 265
9,191
16, 486
23,872
20,640
3,241
21,486
r
3, 795
149, 272
19, 532
21, 036
42, 542
45, 694
2,184
17,467
104, 403
108, 189
11, 125
11, 192
14, 098
14, 328
21,721
27,927
16, 935
18, 556
3,109
2,880
24, 692
28,592
7,946
' 4, 423
167, 107
144, 542
21, 339
21, 939
21,312
16, 532
49, 100
40, 549
44, 079
43, 530
1,498
2,739
28, 724
18, 297
PAPER AND PAPER PRODUCTS
All paper and paperboard mills:
Paper and paperboard production, total
1,812
thous. of short tons. .
1,908
1,688
1,866
1,701
1,743
1,837
1,856
1,908
1,877
1,930
1,925
960
916
859
884
Paper
-- --- do__
949
877
923
938
958
953
939
968
777
827
703
Paperboard
do
718
854
812
827
758
808
843
789
841
122
126
105
119
Building board
do.
110
112
106
102
109
117
127
116
Paper, excl. building paper, newsprint, and paperboard (American Paper and Pulp Association) :
742, 307
743, 572
694, 795
693, 843
Orders, new _
short tons__ 795, 400
792, 251
749, 143
743, 945
704, 920
690, 142
712, 200
744, 661
684,700
558, 390
552, 535
515, 985
Orders, unfilled, end of month c? .
do
608, 437
605, 763
620, 058
575, 897
555, 847
504, 663
427,025
424, 730
483, 472
413, 165
776, 838
742, 883
719,036
782, 537
690, 363
Production
do
779, 406
776, 262
756, 962
749, 725
757, 527
723, 000
781, 115
720, 500
721, 572
768, 128
734, 168
772, 645
689,968
774, 310
772, 6.72
744, 754
Shipments
. . ... do
752, 479
731, 841
716, 180
706, 500
782,456
267,410
226, 645
237,650
253, 225
223, 278
227, 746
Stocks, end of monthcf
do
289, 295
231,688
260, 381
249,800
295, 490
276, 590
297, 715
Fine paper:
Orders new
do
112, 679
87,050
79, 725
89, 977
83,878
107, 673
94, 818
81,600
76, 432
92,690
76,000
77,700
85,260
Orders, unfilled, end of month _
_ - do. .
122, 825
100, 215
87, 105
121, 540
125, 073
58, 520
117, 807
95, 425
44, 870
71, 455
51, 825
40,500
34,000
Production
do
88,191
103, 369
107, 304
97, 654
102, 522
105, 927
97, 510
104,393
99,455
89, 566
96,866
80,000
82,000
Shipments
.. do
104, 156
108, 870
96, 009
104, 313
87, 618
94, 192
103, 541
97, 918
97,012
84, 317
98, 251
78,000
83,000
Stocks end of month
do
54,385
56,000
64, 230
52, 915
56, 915
62, 955
69,235
55,237
81, 125
66,760
83,000
85,000
75,150
Printing paper:
262, 705
238, 218
Orders new
do
280, 132
278, 425
240, 050
255, 960
270, 285
269, 577
232, 737
232,900
253, 194
249,500
236,500
Orders, unfilled, end of month.
do
250, 945
254, 602
263, 383
256, 187
246, 660
252, 355
250, 310
249, 790
230, 370
234, 332
201, 100
206,000
199,000
Production
.
do
268, 911
269, 194
264, 706
237, 927
250, 387
267, 467
267, 238
254, 259
256, 417
261, 219
269, 603
255,000
252,000
Shipments
,. do
251 898
263, 590
265, 557
263, 762
259, 989
238, 150
262, 263
254, 285
257, 205
252, 730
268, 295
349,000
246,000
Stocks, end of month
do
66, 078
68, 042
78, 865
84, 560
67, 470
74,248
81, 750
87,500
92,500
87, 150
89,000
98,000
95,500
Price, wholesale, book paper, "B" grade, English finish, white, f. o. b. mill— dol. per 100 lb_.
10.80
10.80
10.80
10.80
10.80
10.80
10.80
10.80
11.30
11.30
11.30
11.30
11.30
Coarse paper :f
Orders, new
.
short tons.. 268, 523 241, 272 268, 636 260,392
259, 685
252, 610
253, 225
254,500
264,800
268, 993
258,303
261, 000
244, 000
Orders, unfilled, end of month
do
149, 956
134, 250
150, 610
145, 093
142, 150
136, 000
134, 780
132, 975
127, 900
115, 33i
136, 635
114,000
113, 500
Production
do. _
242, 667
268, 999
265,386
268, 302
265, 314
243, 161
257, 059
275, 623
267, 770
274, 874
257, 541
259, 000
258,500
Shipments
do
262, 416
245, 741
265, 065
267, 015
268, 448
242, 912
255, 275
261, 038
274, 745
277, 511
254, 292
262,000
250,000
Stocks, end of month
„__
do62, 595
63,276
62, 890
62,090
62, 140
62, 935
58,850
62, 925
65, 575
71,000
66, 030
68,000
68,000
Newsprint:
Canada:
Production.
do
344, 645
387, 672
388, 461
371,637
385, 606
391,481
382, 937
399, 788
397, 330
389, 148
376,062
385, 819
385, 961
Shipments from mills.
.
do
332, 211
346, 870
380, 732
397, 706 383, 594
380, 843
379, 695
405, 923
396,049
392,560
387, 897
406,678
375, 667
Stocks, at mills, end of month
do
81, 764
88, 704
84, 222
69,330
95, 351
93, 467
83, 566
83, 843
75,250
88,450
76, 615
54, 391
64, 685
United States:
Consumption by publishers
do
292, 534
307, 967
358. 337
342, 572
348,823
291, 647
327,060
364, 253
314,045
381, 697
337, 196
363,698
332, 671
Production
.
_ _ _ _ _ _ do
' 68, 379
58, 016
64; 894
69, 371
72, 659
72, 075
69, 327
72, 355
72, 571
73, 268
68,370
74,817
75, 626
Shipments from mills
do
' 68, 322
59, 019
65, 943
69, 199
71, 553
72, 441
68,548
71,966
73,214
72,371
69,297
73,584
75,096
Stocks, end of month:
At mills
do
8, 358
7,355
6,306
6,478
7,584
7,218
7,997
8,602
7,675
7,729
7,713
8,946
9,476
A t publishers. _ _ _ _ _ _ . . d o
295, 052
267, 958
274, 453
268, 665
282, 202
337,372
294, 728
345, 423
344, 226
382,849
382, 559
373, 590
382, 691
In transit to publishers
do
89, 132
90, 864
88, 644
75, 785
89, 083
73, 363
80, 667
101, 655
92, 892
76, 842
89, 884
84, 555
98, 165
Imports -_
do.
320, 564
293, 801
398, 283
349, 649 «• 368, 533 »• 375, 195
362, 174 «• 390, 408
416, 789
349, 476
362, 298
407,527
Price, rolls (New York) dol. per short ton..
96.00
96.00
96.00
96.00
96.00
96.00
96.00
100.00
100.00
100.00
100.00
100.00
100.00
Paperboard (National Paperboard Association) :
Orders, new
short tons.. 826, 900
711, 300
894, 300
790, 200
791,200
798,000
706, 100
807,200
809, 700
796, 200
831,100
957,200
783, 700
Orders, unfilled, end of month
do.
423, 500
432, 900
464, 700
397, 400
352, 000
381, 100
359,000
344, 500
375, 900
365, 900
338, 700
318, 700
304, 146
Production, total. do
813, 100
713, 400
861,200
824, 200
821, 800
789, 200
705,600
792, 900
774, 000
832, 100
822,500
953,300
769,400
Percent of activity
103
100
102
102
100
94
94
81
92
91
96
84
88
Paper products:
Shipping containers, corrugated and solid fiber,
shipments
mil. sq. ft. surface area
5,185
5,003
5,509
4,929
4,976
5,019
4,527
5,386
5, 301
5,710
5,498
»• 4, 879
4,710
Folding paper boxes, value:
430.4
409.2
New orders .
1936=100
467.4
378.6
394.0
445.0
415.8
451.2
459.5 1
483.7
435.9
438.0
370.6
Shipments
do
454.8
449.0
476.5
438.5
417.9
5ftO 8
474 4
478.0
370.7
459.1
476.6
47. ^1 4
498 H
r
Revised.
c? Data for January-June 1947 for unfilled orders and stocks are shown on p. S-35 of the November 1948 Survey.
tRevised series. The series for coarse paper (bag, wrapping, shipping sack, converting, and glassine, greaseproof and vegetable parchment) represent the series formerly shown as
wrapping paper revised to exclude special industrial paper; data beginning January 1947 are shown on p. S-35 of the May 1948 Survey; earlier data will be published later
SUKVEY OF CUEEENT BUSINESS
S-36
Unless otherwise stated, statistics through
1946 and descriptive notes may be found in
the 1947 Supplement to the Survey
March 1949
1948
January
February
March
May
April
1949
July
June
August
September
October
November
December
January
PAPER AND PRINTING—Continued
PRINTING
Book publication, total
New books
New editions
number of editions..
do __
do
805
607
198
763
612
151
890
732
158
819
637
182
918
715
203
627
504
123
689
516
173
549
385
164
618
492
126
1,082
886
196
911
734
177
1,226
987
239
675
541
134
PETROLEUM AND COAL PRODUCTS
COAL
Anthracite:
4,921
Production
thous. of short tons..
Stocks in producers' storage yards, end of month
511
thous. of short tons. _
396
Exports
do
Prices, composite, chestnut:
Retail ^
..
. . dol. per short ton. _ 18.22
14. 896
Wholesale
do _
Bituminous:
Production _.
thous. of short tons.. '56,631
Industrial consumption and retail deliveries, total
54, 922
thous. of short tons..
41, 668
Industrial consumption, total- _ _
do
963
Beehive coke ovens
do
8,400
Byproduct coke ovens _
do
709
Cement mills
do
8,796
Electric power utilities
_ . . -do
9,726
Railways (class I)
do
1,104
Steel and rolling mills
_ do _.
2 11, 970
Other industrial
do
13, 254
Retail deliveries
do
48
Consumption on vessels (bunker fuel) . do
Stocks, industrial and retail dealers, end of month,
49, 576
total
thous. of short tons.48, 185
Industrial total
do
8,671
Byproduct coke ovens
do
1,049
Cement mills
do
15, 792
Electric power utilities _ _
_ _ do
6,906
Railways (class I)
do
943
Steel and rolling mills
do
14, 824
Other industrial
do
1,391
Retail dealers
- _ _
do. _
3,410
Exports §
do
Prices, composite:
14.64
Retail 1
dol. per short ton...
Wholesale:
7.695
Mine run
.do
COKE
Production:
Beehive
thous. of short tons
Byproduct
_ _
_ do
Petroleum coke
do
Stocks, end of month:
Byproduct plants total
do
At furance plants
_ ._
do
At merchant plants
do
Petroleum coke
do
Exports
do
Price, beehive, Connellsville (furnace)
dol. per short ton..
r
4,675
4,928
4,438
4,867
4,590
4,365
5,121
5,007
4,961
4,680
4,499
3,719
320
412
256
604
153
671
96
628
63
612
51
449
135
691
413
692
703
642
971
470
964
408
928
18.24
14.912
18.24
i 15.022
18.24
i 15.023
18.29
i 15. 134
18.60
U5.325
18.94
115.836
20.01
i 16. 338
1
20.09
16. 388
20.10
i 16. 391
50, 395
'34,399
'35,151
'56,583
' 53, 118
' 48, 611
' 53, 779
' 52, 158
47, 423
35, 746
44, 502
34, 974
34,011
29,600
39, 169
33, 541
38, 928
32, 985
38, 748
33/578
41,966
36, 470
42, 331
36, 175
846
7,917
636
509
8,100
671
389
6,488
649
908
8,185
692
848
960
697
8,036
721
719
7,701
7,408
8,203
7,467
6,919
7,044
7,112
7,766
7,520
7,432
2 8, 356
11, 677
7,801
8,430
1,023
2
8, 440
9,528
2 7, 292
4,411
28,C56
5,628
2 7, 661
5,943
J
88
110
99
102
111
48, 613
47, 424
8,807
43, 585
42, 581
7,435
34, 418
33, 576
4,308
14, 868
7,047
13, 609
5,599
11, 745
4,864
881
771
14, 735
1,189
3,219
14, 101
1,004
2,601
11,112
47, 032
45, 680
7,762
1,001
14, 601
7,208
1,074
14, 034
1,352
4,728
58, 010
56, 166
10, 474
1,361
17, 041
8,787
1,269
17, 234
1,844
5,627
58, 139
55,991
8,975
1,364
18,551
8,388
1,134
17, 579
2,148
5,168
64, 057
61,385
10, 289
1,328
21, 107
8,685
1,166
18, 810
2,672
5,485
7,904
9,091
996
55
991
976
55
956
819
776
842
1,030
822
798
663
8, 155
5,170
922
8,349
8,233
690
2
706
10, 066
5,496
r
697
121
67, 592
64,674
10, 968
1,369
22, 751
8,815
1,152
19, 619
2,918
4,574
' 49, 791
43, 959
37, 749
8,268
2
766
11,044
7,375
117
68, 696
65, 772
11, 348
1,354
23,875
9,099
1,066
19,030
2,924
4.202
2
20.10
16. 389
20.30
1 15. 982
47, 170
r
46,913
'38 014
46,865
37, 388
8 655
8,654
8,261
7,655
8 508
7 710
8,251
7 498
11, 047
6,210
r If) 506
8,899
10 401
9,477
69, 373
66 667
12, 104
1 291
24, 812
9 411
1 052
17 997
2 706
2,311
67, 805
65, 562
12, 481
1,184
24, 150
9,551
1,027
17, 169
2,243
771
8,689
7,851
1
'49,937
954
751
8,272
7, 258
10, 148
6,156
53, 447
8,500
679
20.10
16. 384
45,950
38, 575
974
8,199
2
1
793
100
69, 579
66,500
11, 465
1,377
24, 894
9,153
1,019
18, 592
3,079
3,570
999
777
859
51
973
733
878
14.70
14.71
14.80
15.11
15.29
15.73
15.92
15.98
15.99
15.99
15.96
15.98
8.031
7.710
8.090
i 7. 684
i 8. 123
17.728
i 8. 146
i 7. 864
i 8. 272
i 7. 882
18.359
i 8. 321
i 8. 806
i 8, 379
i 8. 872
i 8. 403
i 8. 915
i 8. 403
19. 199
i 8. 395
i 9. 211
i 8. 737
19 191
i 8. 776
i 9. 216
'607
5,865
'540
5,513
'325
5,653
242
'247
4,491
'578
5,722
'541
5,593
435
612
588
610
638
623
5,713
259
259
246
'623
5,966
217
256
5,843
225
5,807
6,066
6,076
1,287
1,591
1,103
1,541
1,113
488
129
37
429
14. 500
14.500
204
203
^
5, 763
912
554
358
67
60
807
618
190
79
59
716
587
128
66
67
646
533
113
69
37
802
644
158
83
81
856
641
215
91
67
940
652
287
100
51
1,123
716
407
111
82
819
468
109
73
12.500
12.500
12.500
12.500
12.900
13.000
13.250
14.375
14.500
249
1,474
986
489
115
46
14.500
259
1,589
1,059
530
117
46
14.500
279
PETROLEUM AND PRODUCTS
Crude petroleum:
2,153
1,860
1,959
2,027
1,864
2,036
1,630
2,105
1,733
1,716
1,406
1,968
Wells completed
_
number
163, 037
166, 330
172, 886
174, 581
170, 574
176, 329
155, 224
164, 509
171, 196
163, 781
170, 242
167, 593
Production
thous of bbl
92
96
95
96
95
97
96
98
96
93
92
97
Refinery operations
percent of capacity
161, 280
168, 952
174, 242
173, 429
175, 705
174, 546
165, 796
177, 335
166, 198
170, 166
156, 014
167, 007
Consumption (runs to stills)
thous. of bbl
Stocks, end of month:
224, 211
228, 401
223, 481
234, 615
223, 124
224, 880
223, 820
246, 199
223, 430
227, 408
227, 278
240, 083
Gasoline-bearing in U. S , total
do
58, 827
58,790
57, 684
60, 821
58, 751
57 872
53, 891
58, 989
54, 572
60, 807
60, 629
60, 783
At refineries .__
do _
153,244
148, 469
156, 839
150, 238
153, 378
148, 890
148,994
162, 885
169, 321
154, 233
152, 758
150, 787
At tank farms and in pipe lines .
do
16, 330
16, 222
16, 289
16, 955
16, 179
16, 161
15, 684
16, 258
16, 569
16,075
15, 661
16, 095
On leases
do
8,901
7,743
7,931
9,357
6,412
7,498
7, 831
9,983
Heavy in California.
do _
6,539
6,756
7,228
10, 055
3,362
3,419
3,404
' 3, 974
2,992
3,362
3,192
Exports . . .
__ __ ... . do
3,538
3,661
3,138
2,626
3,068
r
11, 933
11,561
8, 539
9,144 ' 11, 427 10, 804 r 10, 555
Imports
do
' 9, 271
13, 885
7,638
9,767
14, 062
2.510
2.510
2.510
Price (Kansas-Oklahoma) at wells. _dol. per bbl__
2.510
2.510
2.510
2.510
2.510
2.510
2.510
2.510
2.510
2.510
Refined petroleum products:
Fuel oil:
Production:
28,960
Distillate fuel oil.
thous. of bbl..
33, 539
30, 764
33,140
32, 688
29,930
32, 434
34, 274
32, 548
29,352
30,820
32,190
Residual fuel oil.
_
do
34, 493
39, 606
39, 104
40, 732
38, 387
38, 673
39, 313
37, 542
40, 523
39, 177
40, 276
38, 315
Domestic demand:
20 364
20,896
41 243
Distillate fuel oil
do
42, 056
33 779
22 809
18 305
38, 648
25, 595
25 498
20 210
30 645
Residual fuel oil
do
39, 819
35, 026
48, 853
45, 565
•47, 808
38, 987
38, 255
38, 807
42,831
38,400
47, 300
39 108
Consumption by type of consumer:
Electric power plants
.._do
4,433
3,601
2,916
3,269
4,002
2,943
4,256
3,083
3,186
3,119
4,325
3,566
5,356
Railways (class I) ._
do
5,824
6, 661
6,188
6,409
5,995
5,878
6,171
6 026
5,620
5,889
5 761
5 733
r
r
Vessels (bunker oil)
do
5, 182
5,603
' 5, 348
' 5, 819 T 5, 457
5,775
5,604
4,181
5,685
4,386
3,734
5,805
Stocks, end of month:
75 953
Distillate fuel oil
_ do
41, 036
32, 214
34,590
34, 514
40, 781
58, 725
48 352
68 818
76 320
82 920
83 909
Residual fuel oil
do
44, 636
41,945
48, 788
43,156
43, 301
58,431
64, 096
68,005
52, 465
72,363
77,033
76! 942
r
Revised.
1 The comparability of the data for both anthracite and bituminous coal is slightly affected beginning March 1948 by a substitution for one of the reporting companies; February 1948 figures
strictly comparable with March for anthracite and bituminous coal, prepared sizes, are $15.011 and $8.122, respectively; for bituminous coal, mine run, there was no change in price between
February and March on the basis of comparable reports; April and September 1948 figures for bituminous coal, prepared sizes andNovember 1948 figure for bituminous coal, mine run, strictly
comparable in each case with data shown above for the following month are $8.154, $9.196, and $8.744, respectively; December 1948 figure for anthracite strictly comparable with January 1949,
$15.844.
2
Data for coal mine fuel are included in "other industrial."
§Beginning in the April 1948 Survey, export figures include Army civilian supply shipments (see note marked "t" on p. S-21).
KThe comparability of the series has been affected from time to time by a reduction in the number of cities or by a change in the sample. Beginning August 1947 data cover 10 cities for
anthracite and 21 cities for bituminous coal; see note on item in the April 1948 and September 1947 issues regarding the effect on the comparability of the data of changes made in that month,
and in February 1947.
SUEVEY OF CURRENT BUSINESS
March 1949
S-37
1949
1948
Unless otherwise stated, statistics through
1946 and descriptive notes may be found in
the 1947 Supplement to the Survey
January
February
March
April
May
June
July
August
September
October
November
December
January
PETROLEUM AND COAL PRODUCTS—Continued
PETROLEUM AND PRODUCTS—Continued
Refined petroleum products— Continued
Fuel oil— Continued
Exports:
1,585
Distillate fuel oil _
thous. ofbbl..
281
Residual fuel oil
do
Price, wholesale, fuel oil (Pennsylvania)
.110
dol. per gal. _
Kerosene:
10, 697
Production
thous. ofbbl
Domestic demand
_.
_. .do
16, 198
11,993
Stocks end of month
do
216
Exports
do _
Price, wholesale, water white, 47°, refinery
.115
(Pennsylvania)
_
dol. per gal._
lAibricating oils:
4,287
Production
_ _
_ .thous. of bbl__
3,056
Domestic demand
do
i 7, 892
Stocks, refinery, end of month
do _
1,028
Exports
do
Price, wholesale, cylinder, refinery (Pennsyl.390
vania)
dol. per gal_.
Motor fuel:
All types:
73, 812
Production, total
thous. of bbl
Gasoline and naphtha from crude petro65, 744
leum
thous ofbbl
12,047
Natural gasoline and allied products do
Sales of 1. p. g. for fuel, etc., and transfers
3,979
of cycle products
thous. of bbl
6,434
Used at refineries
. do
61, 308
Domestic demand
do
Stocks, gasoline, end of month:
93, 290
Finished gasoline, total
do
61,134
At refineries. _.do
8,877
Unfinished gasoline
*
do
4,323
Natural gasoline and allied products, do
2,075
Exports
do
Prices, gasoline:
Wholesale, refinery (Oklahoma)
.105
dol. per gal..
Wholesale, tank wagon (N. Y.)
do
.188
.194
Retail, service stations, 50 cities
do
Aviation gasoline:
3,443
Production, total
thous. of bbl
2,385
100 octane and above
do
6,557
Stocks, total
_.- _
do
2,712
100 octane and above
do
Asphalt:
Production
.
short tons. - 587, 500
i 812, 400
Stocks, refinery, end of month
do
Wax:
Production
thous. of Ib. . 98, 000
Stocks, refinery, end of month
do
104, 720
Asphalt products, shipments:
5,549
Asphalt roofing, total.
_ . thous. of squares..
Roll roofing and cap sheet:
1,743
Smooth-surfaced
do
1,244
Mineral-surfaced
_
do
2,562
Shingles, all types
_ -do
338
Asphalt sidings
do
Saturated felts. __
_
short tons.. 40, 180
r
2,T 222
790
2,007
2,261
1,058
2,016
1,238
1,272
1,266
1,134
881
642
1,153
607
.110
.110
.110
.110
.110
,. .110
.110
.110
.110
10, 236
7,774
12, 795
9,973
6,508
15, 711
9,383
6,351
18, 480
9,442
6,561
20, 958
9,180
6,193
23, 564
9,663
9,411
26,283
10, 848
10, 928
25, 829
113
297
10, 851
12, 384
24, 010
.120
.120
.120
4,580
3,178
1 9,
306
T
971
4,175
3,229
i 9, 512
»-942
r
598
1,222
T
740
' 1, 608
'947
.110
.110
11, 030
12, 608
10, 287
11,262
10, 884
10, 464
693
821
r272
88
220
362
333
9,288
6,365
26, 177
'232
.121
.125
.125
.125
.125
.125
.121
.120
4,132
3,044
i 7, 829
1,143
4,404
3 231
i 7, 961
1 032
4,308
3,096
18,022
1,139
4,500
2 956
18,411
1 142
4,065
?,007
i 8, 166
1, 979
4,135
2 803
i 8, 350
1,134
4,341
2 957
1
8, 747
731
4,368
2,985
i 9, 843
1,135
.390
.390
.390
.390
.390
.390
.390
.370
.350
.318
.300
67, 518
72, 025
74, 219
79, 421
78, 543
79, 948
80,711
74,505
79, 476
78,445
83,279
59 964
11,372
63 608
12, 296
65 834
11,704
70 501
12 072
69 883
11, 550
71 221
11, 871
71 964
12, 157
66, 522
11,543
70, 579
12,833
69, 588
12, 916
74,268
13, 476
3,818
5,695
56, 487
3,879
6,187
68,171
3,319
6,058
72 183
3 152
6,551
77 186
2,890
5, 979
78, 044
3,144
6,123
81 428
3,410
6,5-35
80 348
3,560
5,962
76 159
3,936
6,617
75, 164
4,059
6,953
72,560
4,465
7,143
72, 162
102, 235
68, 604
8,764
4,673
1,426
103, 398
68, 824
8,551
4,806
T
2, 162
101,280
64, 553
8,549
5,305
3,190
99 554
61,648
8,998
5,622
3,218
96, 221
56, 231
8 297
6,077
2,977
90 310
51,873
8 529
6,176
3,849
87,187
49, 152
8 258
6 3C8
2 982
82, 254
46, 982
8 264
6,287
2 937
83,969
47, 708
8,457
6,173
2,444
87, 275
49, 580
8,314
5, 857
2,463
95, 422
54, 992
8,275
5,579
2,975
.105
.188
.196
.105
188
.196
.105
188
.196
.105
.188
.196
.105
.188
.197
.103
.188
.201
4 142
2 747
6,520
2 575
4 476
3 190
6 641
2 913
3 603
2,864
6,224
3,001
4 287
3,143
6,797
3,309
4 373
3 713
6 068
2 603
980 700 1 062 200 922 200
938 000
957, 600 i 798 900 i 681 600 i 685, 100
765,600
i 859, 500
69
.105
.188
.195
.105
. 188
.195
3,044
1,825
7,186
2,964
3 315
2,329
7,044
2 808
474
.105
.188
.195
.105
. 188
.195
4 075
2 775
6,790
2 667
4,088
2,945
7,359
3,266
.105
. 188
.196
4 115
2 943
6,469
2 614
551,800
624, 000
676, 900
818, 400
911 100
925, 800 1 1,020. 700 11,082,900 11,156,200 1 1,048,000
1
82, 320
103, 320
5,121
1
969
4,121
2,843
1 8, 884
f 1, 135
3
2
6
3
285
562
560
172
246
1
92, 960
108, 920
82, 600
112, 560
86, 240
122 920
74, 760
136, 360
74 760
148 680
66 640
151 480
73,640
154 560
75, 040
155, 120
78,960
154 280
5 259
g 665
5,715
4 708
3 231
1 271
1 4.10
1 271
2*975
1 454
1 366
2 894
*
5, 155
4,946
4,636
5,220
4 734
1 561
1,208
2,385
1 405
1 056
2,484
1 216
2,423
1 281
1 083
2,856
1 163
1 028
2 543
37, 633
49, 662
55,316
52, 476
54,772
44 912
329
350
998
251
213
205
199
l'l53
2 835
320
.120
.274
.102
.191
.201
601 500
1,028,500
98, 2FO
100, 800
1 611
1,132
2,378
.110
935
860
1 286
1 169
2 253
3 049
901
797
1 437
1 352
209
*234
44 474
45 330
44 403
39 384
29 500
27, 845
53 366
129 622
r 68 133
52 131
123 912
50 556
49 617
118 187
61 027
51 632
113 251
50 613
r 4^ g§5
r 141 541
87* 635
50 °46
125 932
276
339
226
RUBBER AND RUBBER PRODUCTS
RUBBER
Natural rubber:
Consumption __
long tons
Stocks, end of month J
do
Imports, including latex and guayule..
-do
Price, wholesale, smoked sheets (New York)
dol. per lb__
Chemical (synthetic):
Production
long tons
Consumption
do
Stocks, end of month®
do
Exports.
do
Reclaimed rubber:
Production
do
Consumption. __ . _
do
Stocks, end of month®
do
58 174
51, 012
148 081
' 80, 564 54, 549
136, 227
r
54, 444
130 295
r
72, 069
50 616
123 248
r 40, 802
52 022
112 724
40, 661
r
55 701
119 818
64 725
48 769
128 446
r 63 824
.219
.205
.204
.229
.233
.228
.243
.237
.228
.222
.197
.189
.192
39 428
43, 003
60, 290
419
39 025
35, 375
65, 649
464
43 940
38, 222
72, 885
387
40 846
34 632
78, 722
569
42 866
35, 268
85, 734
400
41 207
39 204
89, 088
305
41 267
34 511
96, 140
278
39 630
3° 339
97, 197
r 307
37 890
39 215
98, 246
669
41 419
38 367
102, 842
r 42 133
38 890
37 510
119, 313
r 451
40 779
37 690
107, 297
348
25, 634
25, 885
36, 307
23, 678
22, 374
38, 444
24 089
24, 362
38, 313
21 802
22, 322
37, 946
21 043
21, 975
36, 612
22 504
23 786
35 898
17 712
19 291
34 302
20 255
22 917
32 025
21 805
23 478
30 198
23 859
23 512
31 879
23 050
22 170
33 378
915
700
114
460
6 750
6 492
2 436
3 899
6 098
5 592
2 335
3 139
118
191
9,805
9,905
10,476
10, 722
r 35' 446
r
115, 111
486
r 21 430
r 21 377
32 630
r
TIRES AND TUBES
Pneumatic casings:
Production.. _ ...
thousands
7,851
6,385
6,574
6,931
6,930
6 672
7 584
6 963
Shipments, total
do
5,919
7,039
6,254
5,703
5, 106
7 827
7 866
7 835
Original equipment
do
2,366 * 2 265
2 189
2, 330
2,020
1,818
2 379
2 290
2,887
4,632
Replacement equipment
_
do
3,433
3,183
4,301
5 474
5 357
5 409
Export.do
154
157
142
135
200
164
131
136
Stocks, end of month
do
11, 364
8,806
10, 172
11,611
10,
940
11,435
10,
207
9,353
r
Exports
.do
195
161
166
193
143
175
144
113
Inner tubes:
Production
._
do
6,226
5,534
5.702
4,980
5,578
6,716
5,750
6 639
Shipments
do
5, 152
4,505
5,188
5,807
5,419
6,745
6,807
6,917
Stocks, end of month
do
9,116
9,657
9,930
9,737
10, 069
9 939
8 760
8 527
Exports
_
___do
126
101
117
95
120
127
100
75
r
Revised.
i New basis excluding distributors' stocks in California; comparable figures for December 31,1947: Lubricants, 7,701; asphalt, 685,600.
<? Beginning July 1947 data are reported stocks available to industry.
<8> Beginning July 1947 data are reported stocks.
6
6
2
4
126
156
107
125
6 191
6 200
8 778
6 323
6 061
8 915
67
85
86
5 463
5 123
9 303
55
5
5
2
2
715
443
299
953
188
5 034
4 722
9 734
135
19 699
21 103
34 564
SURVEY OF CURRENT BUSINESS
S-38
Unless otherwise stated, statistics through
1946 and descriptive notes may be found in
the 1947 Supplement to the Survey
March 1949
1948
January
February
March
April
May
June
1949
July
September
191, 199
191, 884
August
October
November
December
January
165, 337
139,414
122,239
125, 701
STONE, CLAY, AND GLASS PRODUCTS
ABRASIVE PRODUCTS
Coated abrasive paper and cloth, shipments-reams..
111,889
139, 066
161, 110
160, 918
158, 554
171,412
146, 164
14, 541
71
13,347
14, 502
16,041
17, 740
17, 757
18, 721
18, 961
18,605
19, 349
18, 435
»• 17. 425
15, 261
9,205
15, 336
4,299
8.338
20, 340
5,196
13, 957
20, 886
6,072
19,047
17, 880
5,930
19, 544
16, 086
5,650
21, 426
12,422
5,032
20,994
10, 149
4,514
20,704
8,355
3,916
19, 938
7,061
3,068
20, 324
6,094
2,824
18, 110
6,399
2,781
12, 741
r 11. 084
8,756
17,589
369, 034
335, 438
479, 788
317, 619
300, 386
493, 925
392,440
414, 418
470, 041
445, 263
494, 952
421, 558
498, 171
496, 510
420,241
541, 527
544, 523
413, 088
544, 376
546, 235
408, 599
571, 713
563, 697
411,560
561, 532
553, 625
598, 512
556, 155
521, 034
' 493, 144
483, 949
415, 049
21.836
21. 912
22.066
22.391
22.514
22.761
23.032
23.203
23.368
23.599
23.812
23.828
118, 720
98, MO
183, 694
110, 777
93, 973
200, 385
131, 353
122, 307
209, 313
122, 561
124, 272
207, 527
120, 424
120, 808
207, 105
127, 663
128, 137
206, 505
118, 119
125, 139
199, 244
129, 417
131, 131
197, 487
128,578
132, 013
135, 565
135, 123
r
128 423
»• 120. 233
124, 845
101, 358
84, 678
77, 107
127, 576
83, 982
75,800
134, 959
99, 575
97, 871
136, 014
109, 451
113, 784
130, 818
108, 946
113, 588
124, 522
113,675
116, 594
118, 786
113, 349
116, 498
113, 378
114, 546
122, 287
106, 031
110, 434
111,362
111, 992
110, 948
r
8,015
7,006
7,320
6,886
8,977
10, 399
8,951
7,383
8,820
7,902
8,107
7,385
7,779
7,585
8,934
8,399
8,737
10,354
PORTLAND CEMENT
Production.
.
Percent of capacity
Shipments
Stocks, finished, enjj of month
Stocks, clinker, end of month
thous. of bbl_.
thous. of bbl__
do
_
..do ..
70
71
80
86
89
90
91
93
93
92
84
r
73
3, 781
CLAY PRODUCTS
Brick, unglazed:
Production
thous. of standard brick
Shipments
. do _
Stocks end of month
do
Price, wholesale, common, composite, f. o. b. plant
dol. per thous ...
Clay sewer pipe, vitrified:
Production
short tons
Shipments
.
do
Stocks
_
do
Structural tile, unglazed:
Production
do
Shipments
_ _
do
Stocks
_ .
„
do
(i)
r
(i)
0)
0)
(i)
0)
(i)
0)
0)
108, 327
' 103, 823
102, 504
92,648
0)
0)
24.044
0)
GLASS PRODUCTS
Glass containers:
Production
thous. of gross
Shipments, domestic, total . _
do
General use food:
Narrow neck food
.
do .
Wide mouth food (inch packers tumblers)
thous. of gross. .
Beverage
do
Beer bottles
do_ .
Liquor and wine
do
Medicinal and toilet
- _
do .
Chemical household and industrial
do
Dairy products
... - do.
Fruit jars and jelly glasses
do
Stocks end of month
.
- . do
Other glassware, machine-made:
Tumblers:
Production _
..
thous. of dozens. _
Shipments
do
Stocks
- do
Table, kitchen, and householdware, shipments
thous. of dozens. Plate glass, polished, production.. -thous. of sq. ft—
532
578
969
549
653
829
899
1,121
1,795
823
1,759
2,518
1,338
1,055
1,060
2,281
1,769
3729
1,976
1,865
2,041
2, 333
2,581
3589
2,161
3 460
1,861
470
339
275
1,638
1,465
1,807
1,136
2,307
1,308
2,008
8,704
8,876
7,164
7,776
419
839
840
1,791
479*
692
704
783
1,584
605
786
849
692
781
-
884
641
604
843
729
641
1,413
569
571
868
692
247
39
502
244
39
813
272
92
8,380
8,488
6,724
7,876
8,419
. 395
8,799
4,539
4,416
8,690
4,325
4,296
8,741
6,223
5,314
8,659
6,422
5,628
8,510
5,278
5,277
8,398
4,357
4,742
8,155
4,036
4,805
7,507
4,618
4,676
7,397
4,636
5,038
6,987
3,195
21, 958
3,051
21,751
4,147
23, 572
3,714
23,417
3,847
20,783
3,351
24,208
2,977
17, 484
3,052
24, 475
3,402
20,774
535
210
568
501
201
513
231
276
613
275
244
764
338
151
r
r
9, 075
8,170
1,820
GYPSUM AND PRODUCTS
Crude gypsum:
Imports
Production
r
422
648
320
20
7, 214
6, 469
r
r
534
2 1, 775
r
246
r
321
r
1, 263
r
1,
592
r
443
r
290
6,765
6,029
569
1,731
3 250
332
872
1,567
r 24
417
280
11
8,306
8,753
5,852
5,427
7,150
5,398
4,873
7,662
4,635
4,347
8,245
4,301
3,225
0)
(9
r
7 388
6,275
9 643
2,785
' 0)
0)
I
thous. of short tons
do. _
Gypsum products sold or used:
Uncalcined
. . . short tons
Calcined:
For building uses:
Base-coat plastsrs
do
Keene's cement
do
All other building plasters
do
Lath
,
thous. of sq. ftTile
do
Wallboardc?
do
Industrial plasters
short tons
241
1,562
1,385
720
1,773
1,590
1,003
1,882
1,667
1,827
1 607
506,561
523,688
609,216
612 919
410, 518
11, 944
107, 121
530, 444
* 7, 273
* 684, 302
50,692
545,038
13, 812
126, 713
633,137
6,387
659, 878
66,548
573, 344
13, 786
126,359
689. 932
7 084
634 689
68,276
490,279
12 419
139 265
649 924
6 991
729 939
55 067
895
TEXTILE PRODUCTS
CLOTHING
Hosiery:
Production
thous. of dozen pairs
Shipments
do
Stocks, end of month
,—
do —
T
13, 483
13,206
22,494
13, 365
13, 178
22,682
14, 185
14, 312
22,557
13,303
12,850
23,067
12, 162
10, 974
24,354
12, 373
11, 287
23, 742
10, 099
10, 094
23, 748
11,546
12, 005
23,290
11,905
12,594
22,601
11 759
12 305
22, 055
11 369
11 405
22, 019
11 262
9 746
23,534
11 igg
10 939
25, 277
COTTON
Cotton (exclusive of linters):
Production:
Ginnings . . .
thous. of running bales . 11, 385
259
* 11, 552
5, 310
1,473
10 433
12 762
13 395 * 14 142
Crop estimate, equivalent 500-lb. bales
3 14 937
thous. of bales..
• 11, 851
879, 967
829, 960
Consumption
bales
785, 677
785, 516
860, 704
627, 462
800, 347
739 139
728 732
695 887
686 166
680 670
674 463
Stocks in the United States, end of month, total %
7,669
8,581
6,545
5,572
4,611
3,686
3,080
thous. of bales. _
16, 855
15, 125
15, 938
13, 854
12, 646
11, 392
6,411
Domestic cotton, totalj__
do
8,422
7,529
5,447
4,500
3,584
2,991
16, 776
15,815
14, 995
13,729
12, 531
11, 284
951
582
1,246
528
372
On farms and in transit J.
_
do
275
274
13, 885
10, 515
6 331
3 765
2 185
1 552
2,824
5,053
4,430
3,636
1,308
Public storage and compresses
do
2,200
1,642
4,087
7,272
1,700
8'387
8 771
8 176
2,193
2,123
2,148
2,095
1,928
Consuming establishments
do
1,667
1,409
1,191
1,213
1, 391
1,577
1,575
1,555
134
159
125
140
111
102
89
Foreign cotton, totalj-.
do
79
123
130
125
115
110
r
2
Eevised, i Data discontinued by compiling agency.
Jelly glasses included
with wide mouth food containers.
Includes a small quantity of nonreturnable containers.
5
' Laminated board included with tile.
Total ginnings of 1947 crop.
& December 1 estimate of 1948 crop.
cf Includes laminated board, reported as component board, except in first quarter of 1948.
J For revisions for July-December 1946 and data for January-June 1947, see note marked "J"on p. S-38 of the October 1948 Survey.
SURVEY OF CURRENT BUSINESS
March 1949
Unless otherwise stated, statistics through
1946 and descriptive notes may he found in
the 1947 Supplement to the Survey
S-39
1949
1948
January
February
March
April
May
June
July
August
September
October
November
December
January
TEXTILE PRODUCTS—Continued
COTTON —Continued
Cotton (exclusive of linters)— Continued
Exports §
bales..
Imports
do
Prices received by farmers
-dol.
per
lb_.
Prices, wholesale, middling, 15/i&", average, 10
markets
dol. per lb__
Cotton linters:
Consumption
_ _ __ _ thous. of bales. _
Production
do
Stocks end of month
.. do
214, 098
9,454
.331
163, 498
19, 014
.307
261, 162
10, 398
.318
155, 080
14, 668
.341
204, 811
7,846
.353
132, 898
3,090
.352
348, 594
8,078
.330
114, 584
9,847
.304
170, 911
102, 970
.309
246, 161
11, 726
.311
428, 132
•
51
.305
521, 568
5,443
.296
.293
.352
.328
.342
.372
.376
.370
.340
.313
.312
.312
.315
.322
.320
102
166
510
98
129
516
104
104
522
97
66
500
99
47
459
95
36
403
86
32
361
105
53
318
109
169
356
115
222
437
117
219
527
114
205
609
123
2,588
75, 598
2,364
80, 070
2,760
79, 889
3,813
2,540
73, 129
3,916
71, 937
2,670
63, 673
2, 196
2,259
62, 456
1,433
83, 294
2,604
58, 030
2,007
v 2,260
116, 046
2,216
63.65
.338
.239
.240
58.26
.338
.208
.240
51.01
.338
.205
.230
47.86
.338
.198
.230
45.34
.338
.183
.208
45.58
.338
.177
.195
46.29
.338
.172
.186
41.76
.338
.164
.181
37.55
.338
.157
.178
35.34
.338
.155
.174
33.98
.338
.158
.172
32.78
.338
.155
.170
.804
1.098
.804
1.098
.804
1.098
.804
1.098
.796
1.088
.757
1.044
.715
1.002
.696
.965
.686
.941
.686
.917
.666
.882
.659
.882
22, 856
21, 489
10, 441
440
9,819
137.6
23,077
21, 708
11, 684
492
11,005
133.6
23,042
21, 694
11,318
475
10, 667
136.1
23, 055
21, 723
10, 693
450
10, 080
134.0
22, 787
21, 479
10, 953
461
10, 320
130.9
22, 675
21,328
8,482
356
7,923
101.3
22, 703
21, 352
10, 019
421
9,384
119.6
22, 686
21, 302
9,998
420
9,414
121.0
22,483
21, 157
9,521
400
8,889
120.0
22, 513
21, 231
9,253
389
8,681
111.9
22, 043
20, 776
9,102
383
8,544
104.1
22,18ft
20,927
8,940
37f>
8,425
112.0
68.9
22.7
60.9
20.7
68.1
22.7
68.2
22.9
68.6
22.1
70.7
22.4
72.2
22.2
71.8
22.1
69.9
22.0
71.8
21.9
70.4
21.3
75.0
21.2
8.6
4.8
2,711
8.8
4.9
4,588
9.4
4.8
5,219
8.7
3.8
4,599
9.3
4.0
3,975
9.2
4.3
5,323
9.3
4.2
4,580
10.2
4.7
4,775
9.9
4.8
4,195
10.1
4.7
1,654
12.3
5.4
2,822
11.1
4.6
4,344
.740
.360
.740
.360
.740
.360
.740
.360
.740
.360
.740
.360
.740
.360
.764
.368
.770
.370
.770
.370
.770
.370
.770
.370
COTTON MANUFACTURES
Cotton cloth:
Cotton broad woven goods over 12 inches in width,
production Quarterly
mil of linear yards
Exports §
thous. of sq. yd.. ~~~93," 907"
2,308
Imports
do
Prices, wholesale:
64.31
Mill margins
..
cents per lb__
.338
Denims, 28-inch
dol. per yd._
.261
Print cloth, 38 ^ -inch, 64 x 60
_. do _.
.240
Sheeting, unbleached, 36-inch, 56 x 60
do
Cotton yarn, Southern, prices, wholesale, mill:
.765
22/1, carded, white, cones
dol. per lb_.
1.019
40/1, twisted, carded, skeins
do
Spindle activity (cotton system spindles):
22, 798
Active spindles, last working day, total*.. -thous..
21, 450
Consuming 100 percent cotton
do_ _.
11, 423
Spindle hours operated, all fibers, total*, mil. of hr__
480
Average per spindle in place*
_ _ hours..
10, 802
Consuming 100 percent cotton
mil. of hr_.
139.0
Operations as percent of capacity t
82, 410
3,461
r
r
RAYON AND MANUFACTURES AND SILK
Rayon yarn and staple fiber:
Consumption:
Filament yarn
mil. of Ib
Staple
fiber
_. do
Stocks, producers', end of month:
Filament yarn
. do
Staple
fiber
.
do
Imports
thous. of Ib
Prices, wholesale:
Yarn, viscose, 150 denier, first quality, minimum
filament
dol. perlb.
Staple fiber viscose 1^ denier
do
Rayon broad woven goods, production, quarterly
thous. of linear yards
Silk, raw:
Imports
thous. of Ib
Price, wholesale, raw, Japan, 13/16 (N. Y.)
dol. per lb_.
WOOL
Consumption (scoured basis) :^
Apparel class
thous. of lb_.
Carpet class
. d o
Imports
do
Prices, wholesale, Boston:
Raw, territory, 64s, 70s, 80s, scoured.. dol. per lb._
Raw, bright fleece, 56s, greasy
_
.do
Australian, 64s, 70s, good topmaking, scoured, in
bond
_.
..
dol. per Ib
553, 150
r
546, 421
r
519, 793
541, 709
128
397
829
417
470
1, 349
1,106
352
404
787
510
614
2.60
2.60
2.60
2.60
2.60
2.60
2.60
2.60
2.60
2.60
2.60
2.60
41, 700
15, 948
110, 302
42,900
15, 524
79, 997
51,680
20,265
86,749
42, 632
17, 024
62, 324
41, 620
16, 972
48, 703
48, 120
19, 835
74, 307
31, 744
11, 284
61, 177
38, 824
16, 964
62, 530
45, 210
20,360
54, 523
33, 988
18,092
42, 411
1.255
.510
1.255
.510
1. 255
.510
1.296
.510
1.310
.510
1.446
.550
1.480
.560
11.800
i .560
11.800
1.560
1.240
1.370
1.292
1.399
1.652
1.820
1.820
1.820
1.696
r
r
.770
.370
(•)
29, 704
16,636
38, 840
37,090
18, 985
39, 503
i 1. 788
i .560
U.750
1.560
11.790
i .560
1 1. 800
1.560
1.615
1.615
1.801
1.925
WOOL MANUFACTURES
Machinery activity (weekly average) :1
Looms:
Woolen and worsted:
103
92
98
91
82
100
82
79
62
89
Pile and Jacquard* — thous. of active hours..
'78
77
T
2,572
2,495
2,513
2,565
2,497
2,323
2,185
2,224
Broad
do
2,400
1,893
2, 143
2,109
51
52
42
37
* 39
Narrow
'
do
40
35
30
'29
26
36
30
Carpet and rug:
163
163
163
164
164
167
164
173
114
166
166
Broad .-.
_
do
159
146
144
141
141
146
130
114
Narrow
do
90
124
126
129
103
Spinning spindles:
r
103, 677
98,429
99, 272
98, 572
102, 527
94, 338
95, 140
73, 791
Woolen _.
__
do
88, 432
92,989
90,
274
84,
378
r
132, 666
129, 269
125, 437
132, 418
124, 760
109, 204
104, 311
116, 709
87, 804
101,900
Worsted
do
92, 615
92, 039
252
245
247
248
222
250
179
Worsted combs
do
239
189
210
"160
165
Wool yarn'
r
Production, total ^
thous. of lb__
67, 108
67, 304
65, 876
65, 588
62, 112
82,550
78, 170
48, 188
74, 475
61, 716
57, 612
67, 045
8,084
7,512
Knitting 1
do
7,488
5,408
7,940
9,610
8,840
6,896
8,055
6,408
5,908
6,940
41, 668
Weaving 1
do
43, 872
42, 092
43,760
53,730
49, 800
31, 912
38, 852
46, 385
38, 256 r' 35, 712 41, 355
Carpet and other 1
_
do
15, 264
15, 492
16, 296
16, 408
19, 210
16, 364
19, 530
10, 868
20, 035
17, 052
15, 992
18,750
Price, wholesale, worsted yarn (Bradford weavins svstem) 2/32s
dol. oer Ib
2,925
"2.925
2.962
3.069
3. 350
3.350
3.350
3.350
3.350
3. 350
3. 350
3. ?,50
3 41 0
r
Revised.
» Preliminary.
• Data not available.
§Beginning in the April 1948 Survey, export figures include Army civilian supply shipments; see note marked "t" on p. S-21.
i Data beginning August 1948 are for wool sold on the open market instead of the Commodity Credit Corporation selling price; August price for the territory wool comparable with
earlier series, $1.480 per pound; for the bright fleece series, the Commodity Credit Corporation and the open market price were the same in August and September.
• Included in data for broad and narrow looms prior to April 1947. JData for March, June, September, and December 1948 are for 5 weeks; other months, 4 weeks.
*New series. The new series for cotton spindle activity and the revised series for operations as a percent of capacity relate to all cotton system spindles, including data for spindles spinning synthetic and blended fibers as well as those consuming 100 percent cotton. The series designated "100 percent cotton" continue the data on active spindles and spindle hours shown in
the 1947 Supplement and in previous issues of the monthly Survey. The figures for average spindle hours per spindle in place and operations as a percent of capacity for cotton consuming
spindles for August 1945-;January 1948, as shown in the Supplement and in previous issues of the monthly Survey, are not strictly comparable with earlier data because the figures for spindles
in place collected beginning August 1945 and used in the computations include all cotton system spindles while the "in place" figures used in earlier computations related to spindles used
exclusively for spinning cotton. Data for August 1945-June 1947 for the revised series on operations as a percent of capacity and for the new series on spindles and spindle hours are available
in the May and August 1948 issues, p. S-39 and the note for cotton spindle activity at the bottom of p. S-34 in each of those issues. Beginning with this issue, the new price series for worsted
yarn (Bradford weaving system) 2/32s, 64s (white) replaces the former price which has been discontinued; monthly data beginning 1947 will be shown later.
fRevised series. See note marked "*".
SURVEY OF CURRENT BUSINESS
S-40
Unless otherwise stated, statistics through
1946 and descriptive notes may be found in
the 1947 Supplement to the Survey
March 1049
1949
1948
January
February
March
April
May
June
July
August
September
October
November
December
January
TEXTILE PRODUCTS—Continued
WOOL MANUFACTURES— Continued
Woolen and worsted woven goods, except woven
felts:
Production quarterly total
thous of lin yd
Apparel fabrics total
do
Government orderst
do
Other than Government orders totalf do
!Men's and boys't
do
Unclassified!
do
Blanketing
do
Other nonapparel fabrics
do
Prices, wholesale, f. o. b. mill:
Suiting unfinished worsted, 13 oz.-dol. per yd.Women's dress goods, flannel, 8 oz, 54-inch*
dol. per yd. _
131,978
116, 258
3,141
113,117
55, 113
49, 384
8,620
5,496
10, 224
130, 428
114, 916
2,176
112 740
55, 599
48 090
9,051
4,924
10, 588
' 118, 816
' 104,
807
r
2, 161
T
102
646
r
46 684
••48 023
'7 939
* 5, 012
'8 997
115, 046
100 229
3 625
96 604
39 933
49 124
7 547
5, 843
8 974
3.366
3.440
3.465
3.465
3.465
3.465
3.465
3.564
3.589
3.589
3.589
3.589
3.589
2.203
2.203
2.203
2.265
2.326
2.426
2.450
2.450
2.537
2.624
2.624
2.698
2. 722
5,157
3,082
2,092
4,782
4,980
3,381
1,907
2,516
2,388
1,538
1,327
C1)
0)
700
181
0)
0
0)
0)
502
117
0)
(0
317
137
MISCELLANEOUS
Pur sales by dealers
thous. of dol
TRANSPORTATION EQUIPMENT
AIRCRAFT
Shipments, total
For U S military services
Civil aircraft
Exports
-
number. .
do
- do ..
do
'602
'140
••462
116
'616
155
'461
'112
'856
278
'578
165
931
165
766
229
953
141
812
'259
1,186
227
959
333
405, 663
1,382
1,080
305, 081
285, 373
99,200
83, 893
33, 643
r 19,658
14, 185
3,373
3,196
1,548
1,648
177
383, 002
1,101
763
274, 847
256, 753
107, 054
88, 889
30, 366
16, 422
13, 944
3,454
3,239
1,688
1,551
215
492,034
1,430
1,217
349, 998
327, 198
140, 606
118, 572
40, 071
20,493
19, 578
4,137
3,878
2,094
1,784
259
438, 090
1,056
910
308, 071
288, 356
128, 963
111,911
44,854
22, 570
22, 284
4,116
3,898
2,081
1,817
218
338, 538
1,288
1,168
225, 461
209, 591
111, 789
96, 909
34, 180
16, 477
17, 703
3,688
3,541
1,876
1,665
147
431, 046
1,068
892
312, 406
293, 582
117, 572
101, 755
29, 514
14, 988
14, 526
4,047
3,901
2,144
1,757
146
474, 556 ' 461, 353
1,012
771
947
675
356, 764 ' 348, 822
334, 736 328, 194
116,780 111, 760
98, 249
97, 222
' 41, 283 r 34, 272
' 17, 681 ' 19, 349
23, 602
14,923
3,437
3,622
3,240
3,454
1,657
1,866
1,583
1,588
197
168
413, 537 ' 491, 803 " 468, 822
'545
'679
1,143
460
1,051
'600
301, 170 ' 383, 755 ' 364, 440
282, 458 ' 361, 867 346, 999
111, 224 ' 107, 369 103, 837
94, 196 ' 91, 296 89,030
' 35, 222 ' 35, 522 ' 20, 266
' 17, 696 ' 17, 651 ' 10, 742
9,524
17, 871
17, 526
3,594
3,725
3,819
3,694
3,584
3,457
2,444
1,982
1,876
1,602
1,250
1,581
125
141
137
274, 978
69,486
249, 781 311, 650
74,326 ' 94, 806
330, 555
108, 168
255, 638
100, 614
246, 926
87,324
291, 206
94,036
317, 788
91, 923
296, 339
85, 108
291, 442
84, 284
313, 230
75, 024
311, 419
70,282
1,119
199
920
'246
590
134
0)
(1)
235
183
MOTOR VEHICLES
Pactory sales total
Coaches, total
Domestic
Passenger cars, total
Domestic
_ _ _ _
Trucks total
Domestic
_
_.
Exports, total _
_.
Passenger cars
Trucks
_
Truck trailers, production, total
Complete trailers
_ _ _ _ _ _
Vans
All other
*
Chassis shipped as such _ _
Registrations:
New passenger cars
New commercial cars
_
number
do
_
do __
do
_ _
do
do
_ - _ _ _ do
do .
do
_ .
- do do
_do
do
_ do
do
-
do
» do
486, 981 431, 284
824
658
763
618
378, 455 326, 019
360, 986
312, 199
107, 702
104, 607
90,667
91,290
42, 479
18, 825
23,654
' 3, 426
2,766
'3,299
2, 695
1,935
1,490
r
1,364
1,205
127
71
RAILWAY EQUIPMENT
American Railway Car Institute:
Shipments:
Freight cars, total
_ number
Equipment manufacturers, total _
do .
Domestic
do
Railroad shops, domestic
do
Passenger cars, total*.
do
Equipment manufacturers, total
do
Domestic _ _
_
do
Railroad shops, domestic*. ..
do
Association of American Railroads:
Freight cars (class 1), end of month:
Number owned _ _
_
_ thousands
Undergoing or awaiting classified repairs
thousands. _
Percent of total on line___
Orders, unfilled
number_.
Equipment manufacturers
_ _ do
Railroad shops
_
do
Locomotives (class 1), end of month:
Steam, undergoing or awaiting classified repairs
number..
Percent of total on line
Orders unfilled:
Steam locomotives, total
number..
Equipment manufacturers . _ . .do
Railroad shops
do
Other locomotives, total. . _
_
do
Equipment manufacturers
do_ _
Railroad shops. _
_
do
Exports of locomotives, total.
do
Steam
_
do
Other
do
9,254
6,866
6,561
2,388
83
57
57
26
8,502
6,345
6,306
2, 157
74
54
54
20
9,321
6,959
6,940
2,362
94
74
74.
20
9,367
7,041
6,726
2,326
121
107
67
14
9,712
7,171
6,651
2,541
64
64
60
0
10, 514
7,816
7,721
2,698
46
46
46
0
8,763
6,876
6,874
1,887
62
62
62
0
10, 414
7,450
7,450
2,964
61
61
61
0
9,886
7,055
6,978
2,831
65
64
64
1
9,169
6,806
6,649
2,363
92
81
75
11
9,315
6,997
6,976
2, 318
88
69
69
19
9,987
7,384
7,364
2,603
96
83
78
13
8,923
6,140
6,130
2 783
91
82
71
9
1,735
1,738
1,740
1,743
1,744
1,747
1,747
1,749
1,752
1,754
1,755
1,755
1 757
76
4.5
101, 662
74, 008
27,654
79
4.7
103, 061
75, 482
27, 579
80
4.8
105, 120
80, 772
24, 348
83
4.9
109, 567
86, 947
22,620
86
5.1
103, 786
81, 067
22, 719
84
5.0
103, 565
79, 866
23,699
85
5.0
102, 389
75, 220
27, 169
85
5.0
100, 402
73, 113
27, 289
81
4.8
93, 087
65, 751
27, 336
78
4.6
95, 785
61, 438
34, 347
79
4.7
90,484
57, 877
32,607
80
4.7
84, 161
53, 118
31, 043
88
52
81, 683
51, 007
30 676
2,581
7.4
2,702
7.8
2,873
8.3
2,879
8.4
2,887
8.5
2,803
8.3
2,774
8.2
2,792
8.3
2,713
8.1
2, 646
8.0
2,600
7.9
2,439
7.5
2, 479
96
76
20
1,417
1,416
1
150
67
83
108
89
19
1,488
1,487
1
71
12
59
119
89
30
1,431
1,431
0
153
30
123
117
89
28
1,455
1,454
1
133
28
105
111
86
25
1,485
1,485
0
135
38
97
123
101
22
1,572
1,572
0
109
28
81
119
99
20
1,509
1,509
0
97
24
73
116
99
17
1,510
1,510
86
72
14
1,544
1,541
3
133
33
100
78
65
13
1,615
1,615
0
43
15
28
72
60
12
1 561
1 561
73
62
11
1 490
1 490
69
9
60
101
86
15
1,477
1,474
3
101
41
60
'315
'269
46
358
258
100
338
288
50
337
318
19
331
286
45
292
243
49
259
230
29
275
214
61
256
229
27
239
216
23
209
158
51
237
194
43
o
o
87
10
77
o
INDUSTRIAL ELECTRIC TRUCKS AND
TRACTORS
Shipments, total. ...
Domestic
.
Export
__
__
number
do _
do
r
904
184
OA
Revised.
* Not available for publication.
*New series. See note marked "*" on p. S-40 of the September 1948 Survey for January-June 1947 figures for passenger car shipments. The series for flannel dress goods, 8 ounce 54-55inch, f. o. b. mill, which is compiled by the U. S. Department of Labor, has been substituted for the 7-7^i-ounce series shown in the September 1948 Survey and earlier issues which has been
discontinued by the compiling agency; comparable figures beginning April 1938 will be published later.
fRevised series. See note on woolen and worsted apparel fabrics in the May 1948 Survey or in the 1947 Supplement to the Survey for explanation of changes in the classifications in
the second quarter of 1947. A further change was made in the last quarter of 1947. Beginning that quarter the unclassified item consists entirely of fabrics containing 25 percent or more
wool reported by cotton and rayon weavers, and all apparel fabrics produced by woolen and worsted manufacturers are distributed to the separate classifications for men's and boys' and
women's and children's fabrics; for the second and third quarters of 1947, the unclassified item includes also 3,340,000 and 1,489,000 linear yards, respectively, which were reported by woolen
and worsted manufacturers as "all other apparel fabrics." Apparel fabrics produced for Government orders were combined with other production prior to 1947. Blankets produced for
Government orders are not available separately.
U . S . G O V E R N M E N T P R I N T I N G O F F I C E : 1949
•INDEX TO MONTHLY BUSINESS STATISTICS, Pages S1-S40Pages marked S
Abrasive paper and cloth (coated)
38
Acids
_
24
Advertising
/
Agricultural income and marketings
2
Agricultural wages, loans
15
Air-line operations
22
Aircraft
10,11,12,14,40
Alcohol, denatured, ethyl, and methyl
24
Alcoholic beverages
2, 27
Aluminum
33
Animal fats, greases
25
Anthracite
2,4,11,12,13,15,36
Apparel, wearing
4, 5, 7, 8,10,11,12,13,14,38
Armed forces
—
10
Asphalt and asphalt products
_ __ _ _
37
Automobiles
2, 3, 7,8,10,11,12,14,18, 21
Banking
15,16
Barley
—
28
Barrels and drums
32
Battery shipments
34
Beef and veal
29
Beverages, alcoholic
2, 27
Bituminous coal.
2,4,11,12,13,15,36
Boilers
33,34
Bonds, issues, prices, sales, yields
19, 20
Bone black
24
Book publication
36
Brass
_
_____
33
Brick.
5,38
Brokers' loans
16,19
Building contracts awarded
_. 5,6
Building costs
6
Building construction (see Construction).
Building materials, prices, retail trade.
5, 6,8,9
Business, orders, sales, inventories
3
Businesses operating and business turn-over __
4
Butter.
-.27
Candy.
29
Cans, metal
33
Capital
flotations
18,19
Carloadings
22,23
Cattle and calves
28, 29
Cement—.
2,5,38
Cereal and bakery products, price
4
Chain-store sales
8,9
Cheese
27
Chemicals
2, 3, 5,10,11,12,13,14,15,18, 24
Cigars and cigarettes
30
Civil-service employees
11
Clay products (see also Stone, clay, etc.)
2,38
Clothing
4, 5, 7, 8, 10, 11, 12,13,14, 38
Coal
2, 4, 11, 12, 13,15,36
Cocoa
29
Coffee
22, 29
Coke
2,36
Commercial and industrial failures
4
Construction'
New construction, dollar value
5
Contracts awarded
5,6
Costs
6
Dwelling units started
6
Highway
6,11
Employment, wage rates, earnings, hours __
10,
11,13,15
Consumer credit
16
Consumer expenditures
1, 7,8
Consumers' price index
4
Copper
- 21,33
Copra and coconut oil
25
Corn
19,28
Cost-of-living index (see Consumers' price
index)
4
Cotton, raw, and manufactures
2,
4, 5,10, 11,12,13,14, 21, 38,39
Cottonseed, cake and meal, oil
25
Crops
2,4,25,26,28,30
Currency in circulation
18
Dairy products
2,4,5,27
Debits, bank
15
Debt, short-term, consumer
16
Debt, United States Government
16
Department stores
8,9,16
Deposits, bank
15,16,18
Disputes, industrial
13
Distilled spirits
27
Dividend payments and rates
1,20
Drug store sales
8,9
Dwelling! units started
6
Earnings, weekly and hourly
13,14,15
Eggs and poultry
2,4, 29
Electrical equipment
3, 7,8,34
Electric power production, sales, revenues
26
Employment estimates
10,11
Employment indexes
11
Employment security operations
13
Emigration and immigration
23
Engineering construction
6
Exchange rates, foreign
18
Expenditures, United States Government
16
Explosives
24
Exports (see also individual commodities)
21
Express operations
22
Factory, employment, pay rolls, hours, wages. 10,
11,12,13,14,15
Failures, industrial and commercial
4
Farm marketings and income
2
Farm wages
15
Farm products, farm and wholesale prices
2, 4
Fats and oils
5, 25, 26
Federal Government,
finance
16,17
Federal Reserve banks, condition of
15
Federal Reserve reporting member banks
15,16
Fertilizers
5, 24
Fiber products
34
Pages marked S
7
25, 29
25
_
31,32
28
2,3,
4, 5, 7, 8,10,11,12,13, 14, 27, 28, 29, 30
Footwear
2, 5, 8, 9,10,11,12,13,14,31
Foreclosures, real estate
7
Foreign trade, indexes, shipping weight, value
by regions, countries, economic classes, and
commodity groups
21,22
Foundry equipment
34
Freight cars (equipment)
...
40
Freight carloadings, cars, indexes
,..
22, 23
Freight-car surplus and shortage
23
Fruits and vegetables
2,4, 5,21, 27
Fuel equipment and heating apparatus
33,34
Fuel oil
_ 36,37
Fuels
2,5,36,37
Fur
__
22,40
Furnaces
34
Furniture
._ 2, 5, 7, 8, 9, 10,11,12,13,14
Gas, customers, sales, revenues
26
Gasoline
37
Glass and glassware (see also Stone, clay, etc.). 2,38
Gelatin
25
Generators and motors
34
Glue
25
Glycerin
24
Gold
18
Grains
4,19, 21, 28
Gross national product
1
Gypsum
38
Heating and ventilating equipment
33,34
Hides and skins
5, 22,30
Highways
5, 6, 11,15
Hogs
29
Home-loan banks, loans outstanding
6
Home mortgages
6,7
Hosiery
5,38
Hotels
11,12,13, 15,23
Hours of work per week
12,13
Housefurnishings
4, 5, 7,8,9
Housing
4,5,6
Immigration and emigration
23
Imports (see also individual commodities)
21,22
Income, personal
1
Income-tax receipts
16
Incorporations, business, new
4
Industrial production indexes
2,3
Instalment loans
16
Instalment sales, department stores
9
Insulating materials
34
Insurance, life
17
Interest and money rates
16
Inventories, manufacturers' and trade
3,8,9
Iron and steel, crude and manufactures
2,3,
5, 10, 11,12,13,14,18, 21, 32,33
Kerosene
37
Labor force
10
Labor disputes, turn-over
13
Lamb and mutton
29
Lard
29
Lead
33
Leather and products. 2, 3, 5, 10, 11, 12, 13, 14, 30,31
Linseed oil, cake, and meal
25
Livestock
2,4, 28,29
Loans, real estate, agricultural, bank, brokers'
(see also Consumer credit)
6, 7,15, 16,19
Locomotives
40
f
Looms, woolen, activity
39
Lubricants
37
Lumber
2, 5,10,11,12,14 31,32
Machine activity, cotton, wool
39
Machine tools
10,11,12,14,34
Machinery
2,3,10,11,12, 14,18,21,34
Magazine advertising
7
Mail-order houses, sales
9
Manufacturers' orders, sales, inventories
3
Manufacturing production indexes
2,3
Meats and meat packing. 2, 4, 5,10, 11, 12, 13, 14, 29
Metals
2,3, 5,10,11,12,13, 14, 18, 32,33
Methanol
24
Milk
_
_
27
Minerals
_
2,3,10,11,12,13,15
Money supply
18
Mortgage loans
6, 7,15
Motor fuel...
37
Motor vehicles
8,40
Motors, electrical
_
34
National product and income
1
Newspaper advertising
7
Newsprint
_. 22,35
New York Stock Exchange
19, 20
Fire losses
Fish oils and
Flaxseed
Flooring
Flour, wheat
Food products
fish
Oats
28
Oil burners
34
Oils and fats.
5, 25, 26
Oleomargarine
26
Operating businesses and business turn-over __
4
Orders, new, manufacturers'
3
Paint and paint materials
5, 26
Paper and pulp
2, 5,10,11,12,13, 14,35
Paper products
35
Passports issued
23
Pay rolls, indexes
12
Personal income
1
Personal savings and disposable income
1
Petroleum and products
2,3,
5,10,11,12,13,14,15,18, 21, 22, 36,37
Pig iron
32
Plant and equipment expenditures
1
Pages marked S
Plastics and synthetic resins.
26
Plywood
31
Pork
29
Postal business
.
7
Postal savings
16
Poultry and eggs
__,
2,4, 29
Prices (see also individual commodities):
Consumers' price index._!
_
4
Received and paid by farmers
4
Retail price indexes
4
Wholesale price indexes
5
Printing
2,3,10, 11,12,13, 14, 15,36
Profits, corporation
18
Public utilities
1, 4, 5,11,12,13,15,17,18, 19, 20
Pullman Company
23
Pulpwood
_
34
Pumps.
34
Purchasing power of the dollar
5
Radio advertising
7
Railways, operations, equipment, financial
statistics, employment, wages
1,
11, 12, 13, 15, 17, 18, 19, 20, 22, 40
Railways, street. (See Street railways, etc.)
Rayon, and rayon manufactures
2,
5, 10, 11, 12, 13, 14,39
Real estate
6,7
Receipts, United States Government
16
Reconstruction Finance Corporation, loans
17
Refrigerators
34
Rents (housing), index
4
Retail trade, all retail stores, chain stores,
department stores, mail order, rural sales,
general merchandise
3,4, 7,8,9
Rice.
28
Roofing and siding, asphalt
37
Rosin and turpentine
24
Rubber, natural, synthetic, and reclaimed,
tires, and tubes
22,36,37
Rubbci industry, production index, sales,
inventories, employment, pay rolls, hours,
earnings
2,3,10,11,12,13,14,15
Rye
_
28
Savings deposits
16
Savings, personal
1
Scales and balances
34
Securities issued
18, 19
Service industries employment
10, 11
Sewer pipe, clay
38
Sheep and lambs
29
Shipbuilding
10, 11, 12, 14
Shoes
2, 5, 8, 9,10, 11,12, 13, 14, 31
Shortenings
26
Silk, imports, prices
5, 22, 39
Silver
18
Skins
5,22,30
Slaughtering and meat packing
2,
10, 11, 12, 13, 14, 28, 29
Soybeans, and soybean oil
25, 26
Spindle activity, cotton, wool
39
Steel ingots and steel manufactures (see also
Iron and steel)
32, 33
Steel, scrap
32
Stocks, department stores (see also Manufacturers' inventories)
9
Stocks, dividends, issues, prices, sales, yields.
20
Stokers, mechanical
34
Stone, clay, and glass products
2,
10,11,12,13,14,38
Stoves._
34
Street railways and busses.
11, 12, 13, 15
Sugar
22, 29,30
Sulphur
25
Sulfuric acid
24
Superphosphate
24
Tea
30
Telephone, telegraph, cable, and radio-telegraph carriers
11, 12,13,15, 23
Textiles
2, 3, 5, 10, 11, 12, 13, 14, 38, 39, 40
Tile
38
Tin
33
Tires and inner tubes
5,37,38
Tobacco
2,3,4,7,10, 11,12,13, 14,30
Tools, machine
10, 11,12, 14,34
Trade, retail and wholesale
8, 9, 10, 11, 12, 13,15
Transit lines, local
22
Transportation, commodity and passenger
22, 23
Transportation equipment- 2, 3, 10, 11, 12, 14, 18, 40
Travel
22, 23
Truck trailers
40
Trucks and tractors
40
Turpentine and rosin
24
Unemployment and unemployment compensation
10, 13
United States Government bonds
16, 18, 19
United States Government,
finance
16, 17
Utilities
1,4, 5,10,11,12,13,15,17,18,19,20
Vacuum cleaners
34
Variety stores
8,9
Vegetable oils.__
25,26
Vegetables and fruits
2,4,5, 21,27
Vessels cleared in foreign trade
23
Veterans' unemployment allowances
13
Wages, factory and miscellaneous
13,14,15
War expenditures
16,17
Washers
34
Water heaters
_
34
Wax
37
Wheat and wheat
flour
19, 28
Wholesale price indexes
5
Wholesale trade
3, 9
Wood pulp
35
Wool and wool manufactures
2,
5,10,11,12,13,14,22,39,40
Zinc
33
3ir*t Edition Since
Statistical Supplement
to the SURVEY OF CURRENT BUSINESS
•
For thefirsttime since war security regulations suspended this series well
known to businessmen in earlier years, the Office of Business Economics
has published a STATISTICAL SUPPLEMENT to the SURVEY OF CURRENT
BUSINESS. Regular users of the SURVEY'S monthly business statistics
will welcome this comprehensive supplement providing in one 293-page
volume, all the background data for the monthly indexes appearing
currently in the magazine itself.
Here is a publication that will save time, work, and money. That
search through piles of magazines for the statistical fact you want in a
hurry won't be necessary; the 1947 STATISTICAL SUPPLEMENT to the
SURVEY OF CURRENT BUSINESS is a ready reference. In this single
volume you get quick coverage on a wide range of monthly statistics
for the 6-year period of war and reconversion, 1941-46 and summary
data back to 1935—all arranged for speedy, efficient research.
It's a fact-packed SUPPLEMENT with business indexes on income
payments, farm marketings, industrial production, orders, shipments,
inventories; statistics on construction, advertising, postal receipts, domestic
trade, employment, wages, pay rolls, banking, commercial failures,
life insurance, foreign exchange, corporation profits, public finance,
securities and commodity markets; authoritative figures on exports,
imports, transportation and communications, commodities and many
other classifications for business use.
Handy to have—easy to use—this publication contains the regular
series carried in the SURVEY plus war and postwar revisions and complete descriptive notes indicating the methodology used and where
earlier records may be obtained.
STATISTICAL SUPPLEMENT TO THE SURVEY OF CURRENT BUSINESS
The latest edition is now available from the Superintendent of Documents, Government Printing Office,
Washington 25, D. D., or the nearest Department of Commerce Nield Office.
Price, $1.00
1942
@FedFRASER