Full text of Survey of Current Business : March 1954
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MARCH
ism
U. S. DEPARTMENT OF COMMERCE
OFFICE OF BUSINESS ECONOMICS
1954
SURVEY
OF CURRENT
BUSINESS
No. 3
MARCH 1954
DEPARTMENT OF C O M M E R C E
FIELD SERVICE
Albuquerque, N. Mex.
204 S. 10th St.
Los Angeles 15, Calif.
112 West 9th St.
Atlanta 5, Ga.
50 Seventh St. NE.
Memphis 3, Tenn.
229 Federal Bldg.
Boston 9, Mass.
261 Franklin St.
Miami 32, Fla.
36 NE. First St.
Buffalo 3, N. Y.
117 Ellicott St.
PAGE
THE BUSINESS SITUATION . . . . . . .
Inventory Developments
Hours of Work and Changes in Payrolls
Charleston 4, S. C.
Area 2,
Sergeant Jasper Bldg,
1
4
6
Minneapolis 2, Minn.
607 Marquette Ave.
New Orleans 12, La.
333 St. Charles Ave.
New York 13, N. Y.
346
Cheyenne, Wyo.
307 Federal Office Bldg.
Broadway
Philadelphia 7, Pa.
Chicago 1, III.
226 W. Jackson Blvd.
1015 Chestnut St.
Phoenix, Arizj
Cincinnati 2, Ohio
755 U. S. Post Office
and Custom House
SPECIAL ARTICLES
Investment Programs and
Sales Expectations in 1954
Structure and Trends of Wholesale Prices
9
13
Cleveland 14, Ohio
1100 Chester Ave.
Dallas 2, Tex.
1114 Commerce St.
Balance of Payments—
Foreign Dollar Receipts Maintained . .
20
Denver 2, Colo.
142 New Custom House
Detroit 26, Mich.
230 W. Fort St.
MONTHLY BUSINESS STATISTICS . . S-l to S-40
Revised Statistical Series
Statistical Index
24
Inside back cover
Published by the U. S. Department of Commerce, SINCLAIR WEEKS,
Secretary. Office of Business Economics, M. JOSEPH MEEHAN,
Director. Subscription price, including weekly statistical supplement, is
$3.25 a year; Foreign, $4.25. Single copy, 30 cents. Send remittances to
any Department of Commerce Field Office or to the Superintendent of Documents, United States Government Printing Office, Washington 25, D. C.
Special subscription arrangements, including changes of address, should be
made directly with the Superintendent of Documents. Make checks payable
to Treasurer of the United States.
El Paso, Tex.
Chamber of Commerce
Bldg.
137 N
- Second Ave.
Pittsburgh 22, Pa.
717 Liberty Ave.
Portland 4, Oreg.
520 SW. Morrison St.
R
eno, Nev.
1479 Wells Ave.
Richmond, Va.
406 East Main St.
St> Louis X Mo
» 1114 Market St.
Salt Lake Cily J
» Utah
109 W. Second St. So.
Houston, Tex.
430 Lamar St.
San Francisco 2, Calif.
870 Market St.
Jacksonville 1, Fla.
311 W. Monroe St.
Savannah, Ga.
125-29 Bull St.
Kansas City 6, Mo.
911 Walnut St.
Seattle 4, Wash.
909 First Ave.
For local telephone listing, consult section
devoted to U. S. Government
MARCH 1954
viciuon
By the Office of Business Economics
Plant and Equipment Expenditures
Business plans capital spending of $27 billion
in 1954-slightly below 1953
BILLIONS OF DOLLARS
30 —
20 -
10 —
1950
1951
1952
1953
1954*
Programs reduced in manufacturing and
transportation—other groups expect
little change
I5
MANUFACTURING
10
JL HE gradual easing in business activity evident in the
latter part of 1953 has continued in the early months of 1954.
This has resulted in large part from the continued liquidation
of inventories, particularly in manufacturing industries, and
a further drop in activity in plants producing defense goods.
Final purchases for consumption and investment have shown
only a small decline in the aggregate although marked
changes in their composition, including a drop in purchases
of durable goods at retail, have contributed to readjustments
within the economy. The market in the main has been
characterized by firm prices.
The extent of change has varied among industries with the
principal contractions occurring in manufacturing and associated lines. Activity has been supported by near-stability
in fixed investment which is still characterized by a high
volume of expenditures for both plant and equipment and
housing.
Disposable personal income has been bolstered by the
personal income tax reduction as of January 1. Aggregate
consumption has held up well as purchases of nondurable
goods have shown little change from the fourth quarter while
increased expenditures for services have provided an offset
to lower spending for durable goods.
Retail sales in January and February were below those of
December on a seasonally adjusted basis, and were 4 percent
below the average for the first half of 1953. Much of the
reduction did not represent lower consumer spending, but
resulted instead from reduced purchases of farm equipment
and trucks and lower sales for business purposes by retail
building material arid hardware stores.
Investment in plant and equipment by nonfarm business
continues as a strong element in the business picture. The
results of the joint survey of the Office of Business Economics
and the Securities and Exchange Commission detailed later
in this issue show that anticipated expenditures for the first
quarter of 1954 are at about the high rate of the fourth
quarter of 1953 on a seasonally adjusted basis. Business
anticipates spending about $27 billion in the year 1954, not
far below the record sum spent in 1953. Sustained expenditures are anticipated by public utilities and for commercial
construction with some curtailment in industrial expansion.
Employment and income
TRANSPORTATION*
J_
1950
1951
1952
ANTICIPATED
OFFICE OF BUSINESS ECONOMICS. U. S. D. C.
1953
1954'
Total employment in February at 60 million was up 250,000 from January, reflecting a seasonal advance in agriculture work. The number with jobs was somewhat lower than
a year ago with the decline centered in manufacturing. Unemployment continued to rise more than seasonally, reaching
3.7 million during the survey week in February. Reductions
in hours worked per week also have lowered labor income,
particularly as they have been accompanied by a reduction
in the hours paid for at overtime rates.
SURVEY OF CURRENT BUSINESS
The changes occurring in the flow of income provide a
broad picture of the trend of consumer buying power. Labor
income showed a further reduction in January and February
though complete figures for the latter month are not yet
available. The decline in total income from the peak reached
in July has been largely concentrated in manufacturing payrolls, with other major types little affected in this period.
Total personal income was at an annual rate of $282.5
billion in January, down $2 billion from December and $5
billion from the peak reached last July, but $2 billion higher
than in January 1953. The reduction in Federal individual
income taxes that became effective at the beginning of 1954
has meant that income after taxes (disposable personal income) in the first 2 months of the year compares more favorably than before-tax income with 1953 rates.
Wage and salary disbursements in January had fallen
about $6 billion at an annual rate from the high of $201 billion
reached last July. Of this reduction $5 billion occurred in
commodity-producing industries—principally manufacturing
and mining. For the commodity-producing group, wages
and salaries were off 6 percent from last summer and 2 percent from January 1953. Within manufacturing, declines
have been larger for production worker payrolls, and greater
in the durable than in the nondurable goods industries.
Wage and salary disbursements in distributive and service
industries have changed only fractionally and Government
payrolls have also shown little change as increases in State
and local compensation have offset a reduction in Federal
employee payments. Proprietors and rental income has
been stable during the past 6 months following earlier declines
in farm proprietors' income. Transfer payments have increased largely as a result of the rise in unemployment compensation and social insurance benefits.
Government purchases of goods and services were down in
the first 2 months of 1954 as purchases for national security
purposes declined. In the latter half of 1953 the drop in
national security purchases had been offset by increases in
State and local expenditures and in Federal outlays other
than national security, mainly for the large agricultural price
support operations. These price support expenditures continued in the first 2 months of 1954 but declined in amount
as the seasonal peak in marketings was passed.
Construction activity high
Construction activity has been well sustained through the
winter months with the total work put in place exceeding a
year ago. On a seasonally adjusted basis, the construction
rate has been edging upward for several months. This represents a combination of divergent developments in the construction picture as a whole.
Public construction has been on a downward trend with
military facilities work and public hospital construction a
third lower in January and February than a year ago. On
the other hand school building, highway construction, and
sewer and water construction are all higher than in early
1953.
Private construction activity was 5 percent higher in the
first 2 months of 1954 than a year earlier. A feature of
recent months is the strong trend in most types of nonresidential construction other than industrial. Warehouses,
office buildings, and retail shopping structures have been
substantially higher than a year ago. Public utility construction is also appreciably higher.
Nonfarm residential construction has shown a less-thanscasonal decline during the winter months, and is running a
little ahead of a year ago. Total nonfarm housing starts
were 73,000 in February. On a seasonally adjusted basis
privately owned housing starts were at an annual rate of
1.18 million.
March 1954
Capital Markets
Recent trends in general business have had their counterpart in financial and credit markets. These developments
have resulted in a further easing in money and credit, with
the lower interest rates reflected in a continued rise in bond
quotations.
Notwithstanding the reduced volume of corporate sales,
with its implied though yet unmeasured fall in corporate
/^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
p
^
Bond Yields and Interest Rates
PE R C E N T
1
4
p
DOMESTIC CORPORATE BONDS ^
(MOODY'S)
^< ^
I
F
3 ^.X
(J. S. TREASURY BONDS ~^^r
^*"*\-^
2 _ / " PRIME COMMERCIAL PAPER, /**S
.•*
4-6 MONTHS (F.R.B.)
0
_
1
1
^*V
*^_J
-/"^^^^^^
1
"
\J\
U.S. TREASURY BILLSt
\
1
3 -MONTH
\ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \
1951
1952
D A I L Y
1953
1954
AVERAGE
OFFICE OF BUSINESS ECONOMICS. U. S. D. C.
I
54-11-2
f
profits in recent months, the level of stock prices has been
maintained at the postwar highs. Countering the influence
of adverse earnings trends have been the partial offset in
the elimination of the excess profits tax as of January 1 last,
which has improved the ratio of after-tax to before-tax
profits, and the proposed revisions in the tax laws under
consideration by Congress.
Current demand for long-term capital by business is being
maintained at near-record volume—to a large extent reflecting the anticipation by business firms of continued high
fixed capital outlays in 1954. Short-term requirements for
outside working capital, on the other hand, have slackened
noticeably in the recent past, due in large' part to the shift
from inventory accumulation to inventory liquidation.
Changed pattern of loan demands
The changed pattern of business demand for loans at
banks in leading cities is highlighted in the accompanying
table. Year-to-year advances in these loans brought them
to a high point in mid-1953, after allowing for seasonal influences. Thereafter the normal seasonal increase failed to
materialize. In the opening two months of this year outstanding bank loans have fallen below their year-ago volume
for the first time since mid-1950. The December-February
decline, amounting to about $1 billion, was larger than that
which occurred in any comparable period in the recent past,
and only in part reflects the normally heavy seasonal repayment of loans.
SURVEY OF CURRENT BUSINESS
March 1954
The largest decline in bank borrowing over the last twelve
months occurred among sales finance companies which deal
largely in extending credit on consumer durable goods.
Commodity dealers, food processors, and metal working
manufacturers also sizeably reduced their bank loans. On
the other hand, bank loans to public utilities and trade firms
were still somewhat higher than a year ago, although it
appears that trade firms were in the process of reducing
their bank debt in the most recent period.
Some temporary need for funds in March stems from
accelerated tax payments required by law. Corporations
l^ust pay 90 percent of their last fiscal year's tax liability
in the first half of the current fiscal year; last year the comparable tax payment proportion was 80 percent. For most
companies the periods of heavy tax payments are March
and June. This year, it may be noted, the large tax outgo
is occurring at a time when profits and taxes accrued on
current account are lower, in contrast to last year when
profits and tax accruals were rising.
While the pace of consumer long-term borrowing to finance
housing purchases has been maintained in substantial volume,
demand by consumers for short- and intermediate-type loans
continued to taper. Installment credit outstanding at the
end of January, the latest data currently available, were
down $360 million from December, a larger than seasonal
decline. New installment loans extended in January were
Table 1.—Commercial and Industrial Loans at Weekly Reporting
Banks l
Millions of dollars
in the same period a year ago. Recent bill rates were down
to levels reached in late 1947, a time when short-term money
rates had not yet been fully adjusted upward from the
unusually low "pegged" wartime rate of % percent.
Manufacturing Production
INDEX, 1st half I960 = 100
STEEL
150
INGOTS
,•••••••* *••*%
100
50
150
too
Percent change
Month
1952
1953
1954
21, 320
21, 322
21, 345
23, Oil
22, 869
23, 269
22, 638
22, 407
June
20, 966
20, 697
20, 738
23. 133
22, 690
22, 585
July
August
September
20, 756
21, 200
21, 854
22, 643
22, 965
23, 103
9.1
8.3'
5.7
22, 457
23, 130
23, 390
23, 301
23, 134
23, 380
3.8
0
0
January
February '
March
.
April
_
May
_
_ _ _ _ _
_ _ __
_
October
November
December
__
1952-53
7.9
7.3
9.0
1953-54
HOME APPLIANCES &
RADIO - TV SETS
-1.6
-2.0
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 I i I M I I I I I I I I I I I I I I It MI
10.3
9.6
8.9
1. Outstanding on Wednesday nearest the end of month.
Source: Board of Governors of the Federal Reserve System.
off IS percent from a year ago while repayments were up
by one-tenth over the same period.
Especially noteworthy in recent capital market developments has been the increased availability of mortgage funds
on relatively favorable terms. Money has been increasingly
available for house purchasers wishing to avail themselves
of the more liberal terms of Veterans Administration and
Federal Housing Administration mortgages, and such funds
J^ave generally been offered on more attractive terms. For
example, no-down-payment Veterans Administration loans
which accounted for 5 percent of all VA mortgages at the
start of 1953 represented 13 percent of the total in January
of this year.
Interest rates lower
The easier market for capital funds was reflected in lower
costs of borrowing, particularly in the short-term money
market (see chart). During February, the U. S. Treasury
sold four issues of three-month bills at an average yield of
slightly less than one percent, compared with an average
yield of 1.2 percent in January, and yields of over 2 percent
50
PAPER AND ALLIED PRODUCTS1
150
IOO
CONSTRUCTION MATERIALS*
.
(B.D.S.A.)
50
150
I I I I I I II II I I III I I I I I I I I I I II II I I I I I I I I I I III I I I I M I
REFINED PETROLEUM PRODUCTS *
V
,••*****•
100
.!>•••••••••••••• ••••••••••••••••••..,
FOOD AND BEVERAGES
50
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 i I i i i i i I i i i i 11 i
1950
1951
1952
1953
1954
* SEASONALLY ADJUSTED
OFFICE OF BUSINESS ECONOMICS. U. S. £>. C.
Bank rates on regular loans to business customers are
normally much less sensitive to short-term changes in money
market conditions and hence overall averages thus far do
not reveal any significant decline. However, the almost
steady rise in these rates which had occurred in the late
postwar period was halted in mid-1953, and since that time
there has been practically no change.
SUEVEY OF CURRENT. BUSINESS
The market for long-term funds continued to show easing
tendencies in the opening months of 1954, although the
changes were much less pronounced than in the market for
short-term Federal issues. From the high of 3.1 percent
reached last summer, yields on long-term Treasury securities
(old series) fell to 2.8 percent by year-end and to 2.6 percent
in February of this year, eliminating all of the rise which had
occurred in the period from mid-1952 to mid-1953. Early
in March the Victory 2%'s of 1967-72 sold at or close to par,
representing the lowest yield on such issues since early 1951.
These trends have been reflected in somewhat modified
degree in the markets for long-term private debt. Corporate
bond yields are about 0.4 percent below their last summer
peak although they are still somewhat higher than yields
prevailing before the 1952-53 rise commenced.
Pattern of Industrial Output
Industrial production is off about 10 percent since last
summer, with the durable goods industries showing the
larger decline. The most recent changes have been small,
with increases in agricultural equipment, machine tools,
motor vehicles and a few consumer durable goods industries
more than offset by reductions elsewhere. Minerals production advanced slightly due to a rise in the output of coal
and crude petroleum and natural gas.
Among the durable goods the sharpest cuts in the past
half year have occurred in primary metals, including steel,
in electrical and nonelectrical machinery, and in consumer
hard goods, and among the nondurable goods industries in
textile and apparel, rubber and leather products. In some
cases activity in January and February was below the rate
immediately prior to the outbreak of hostilities in Korea.
But in some other industries there has been very little change
from peak rates.
The pattern is illustrated in the chart, which shows the
production trend for 8 major industries accounting for nearly
one-half of total manufacturing production. The chart is
based on physical quantity data, except for the food component which is partially represented by man-hours. In a
few instances, the indexes shown for January and where
indicated for February are estimated by the Office of Business Economics based on incomplete data.
Following virtual capacity operations in the first half of
1953 which pushed the annual rate of output to 117 million
tons, production of steel ingots was off to 93 million tons in
January-February 1954. Output was close to 75 percent
of rated capacity in place on January 1, 1954, the first two
months and slipped off to 70 percent the first half of March.
In the metal fabricating industries manufacturers 7 shipments, seasonally adjusted, showed an aggregate drop of 10
percent from July to January while the reduction in the
receipt of new orders was much sharper. The declines in
March 1954
both motor vehicles and in other transportation equipment
have been particularly large in the most recent months.
Within the nonelectrical machinery group some increase in
output has been reported for machine tools in January and
there also was some seasonal pickup in plant operations of
the agricultural equipment industry. The backlogs for machine tools at the end of January represented somewhat less
than 6 months work, about half as large as in early 1953.
Activity in aircraft plants has eased, although still continuing
at a high rate, while plants producing railroad equipment held
operations at the December volume. Unfilled orders in this
industry are now the lowest since the first quarter of 195.1
for freight cars and since early 1946 for locomotives.
Food and beverages production remains generally steady
with the change since the fall months of 1953 reflecting a
more than seasonal contraction in meat production brought
about by a reduction in marketings of livestock after the
acceleration caused by the drought last year.
Consumer durables mixed
In the automobile industry, production in January was
substantially higher than in December. February production, however, was down slightly from January as a result of
the accumulation of new cars in dealers' hands. Projected
output schedules originally set for the month called for a
substantial increase over January. Assemblies of motor
vehicles in February came to 530,000 units—443,000 passenger cars and 87,000 trucks. Aggregate production of motor
vehicles in the January-February period of close to 1.1
million units was about 6 percent below the 1953 total for
these months. Sales of new passenger cars to consumers in
January were slow but some pickup in new car buying
occurred in February.
Information on hand for other consumer durable goods
indicates mixed movements in January production. The
number of radios and television sets produced was down
from December to January while output of washing machines
and vacuum cleaners and ironers was appreciably higher.
Production of driers was maintained at the high December
volume.
Preliminary data for February indicate that production
of television sets was at about the same rate as in January
whereas output of radios was further reduced.
Retail sales of television sets in January were only moderately below December, a decline much less than seasonal,
and were considerably above the year-ago volume. The
combination of high purchases and reduced output in January brought a marked decline in stocks of television sets at
all levels of distribution. In the aggiegate, they were down
nearly one-third from the peak in October 1953, though still
one-fourth higher than a year ago. In contiast the position
of radios continued unfavorable with regard to both sales and
inventories.
Inventory Developments
REDUCTION in the inventory position of business has continued to be an important influence on the general trend
during the opening months of 1954. It still tends to lower
the flow of orders to manufacturers, and orders have remained
low both in relation to final demand in the economy and to
the volume of production. Unfilled orders, as a result, have
been further reduced.
In part this reduction in orders mirrors the lowered volume
of commitments by the military establishment. Over the
period since last spring, forward ordering by the Defense
Department has been cut back substantially and some cancellations of outstanding defense orders were announced.
This has resulted from changes in the program, and a review
of existing stocks and of outstanding orders in relation to
current and future needs. In view of the generally faster
deliveiy schedules currently available for civilian items, purchasers of factory products as well as manufacturers have
felt less need to order far in advance of requirements.
SURVEY OF CURRENT BUSINESS
March 1954
Most of the decline in new orders has occurred in durable
goods, a reflection of both the considerably greater importance of hard goods in defense programs and the relatively
larger decline in consumers durable goods expenditures.
The major attempt to reduce inventories in recent months
has been in durable-goods areas. Durable-goods stock-sales
Business Sales and Inventories
RecAuctions in business inventories and sales
coritinued in January
50
MANUFACTURING
45
40 ~
^f
^*//Vl/£W7tf/?/£S*
-
Manufacturers* stocks lower
35
30
^
SALES ^^
25
.,••••••*•.
-v4
-vj
o»
20
*
25
^
20
Mill
1 1 1 1 1
I1 1 1 1
1 1 1 1 1
Mill
RETAIL TRADE
1 1 1 1 1 1 II 1 1 1 1 1 1 1 1 1
^
INVENTORIES *r
•vl
^
15 —
*•%
C*i
10
SALES^
A
•
*•
••
i i i i i
20
i i i i i
—
•••••»„.••*•***************••••••*•••
*
i i i i i
i
i UL
i i i i i 1 i i i ii
WHOLESALE TRADE
15
INVENTORIES **^
10
SALES r
5
J 1 1 1 1 ! 1 1 1 1 1
1 1 1 1 |
1 1 1 1 1
M M )
1 1 1 1 1 1 1 I 1 I ! ! I I 1 I 1
Stoc:k-sa!es ratios have risen moderately
2.5
INVENTORY- SALES RATIOS
^
2.0
MANUFACTURING
c>
^
^
ct
1.5 ^
1.0
.5
ratios in both manufacturing and trade are currently quite
high compared to most earlier periods.
Nondurable goods inventories, on the other hand, have
been rather stable in the aggregate since mid-1951. Sales in
this area have also been quite steady and stocks have been
reasonable both in volume and relative to sales. While the
moderate inventory reductions at both manufacturing and
trade establishments since September have not fully matched
the rate of decline in sales, nondurable goods stock-sales
ratios—though currently highei than last fall—are not unduly high in historical perspective.
By the end of January, the book value of manufacturing
and trade inventories had been lowered to $80.7 billion on. a
seasonally adjusted basis, about $1.3 billion less than the
high reached last September January registered a drop in
line with the average for this period. The reduction in part
reflected lower replacement costs so that the volume of stocks
was not correspondingly reduced.
The January decline centered in manufacturing, principally in durable goods; inventories in distributive channels
showed little change in January at wholesale or retail levels.
RETAIL *^* '
t
WHOLESALE r
^
1 1 1 1 1 1 1 1 1 1 1
1 1 1 ! 1 1 1 1 1 1 1 1 1 1 I 1 1 1 ! 1 1 1 1 1 1 1 1 1 1 I 1 1 1 1 1
1951
1952
SEASONALLY
* BOC)K
1953
1954
ADJUSTED
VALUE, END OF MONTH
OFFH -E OF BUSINESS ECONOMICS. U. S. D. C.
54-11-3
The January decline in manufacturers' inventories alone
was somewhat larger than the average reduction in the last
quarter of 1953. Book values at the end of January totaled
$46 billion on a seasonally adjusted basis, about $700 million
lower than the high last'September. Liquidation has been
fairly widespread, with onl^ a few industry groups reporting
stable or increased inventories.
Durable goods manufacturers accounted for somewhat
more than half of the Sept ember-January adjustment; generally speaking it was in this group that the earlier inventory
buildup had been most pronounced. After allowing for seasonal influences, inventories held in durable-goods plants
amounted to $26.6 billion in January, some $2 billion more
than 12 months earlier. In view of the somewhat reduced
sales volume not only in the more recent period but as compared with a year ago, inventory-sales ratios remained relatively high in January compared with the average for 1953.
Inventories of three durable goods groups—motor vehicles, other transportation equipment, and professional and
scientific equipment—were as high at the beginning of February as they were at the end of September. Defense inventories account for an appreciable part of stocks in the heavy
goods industries, and the absence of an adequate breakdown
makes it difficult to evaluate the comparative trends of inventories held for defense and civilian business.
Inventory reductions in January were most pronounced in
the electrical and nonelectrical machinery groups, and while
here stock-sales ratios were still somewhat above 1953 highs,
they were moderately lower than at year-end. Sales by
primary metal producers declined somewhat faster than inventories in January so that the stock-sales ratio continued
to rise. Fabricated metal companies reduced inventories in
January both absolutely and relative to sales.
While producers of nondurable goods have moderately
reduced inventory holdings since last summer, there has
been little net change in the overall inventory-sales ratio for
this group. Despite the lowering of inventories and sales in
recent months,
sales and inventories in January were each
moderate!}7 above year-ago levels.
The more recent inventory reductions in nondurables
centered in textiles, apparel, chemicals, and petroleum.
The book value of textile company inventories reached a
high in July, and has declined rather steadily since. Most
of the apparel industries' decline was in the recent period.
Stock-sales ratios for both of these groups have been declining. In contrast, the lowering of chemical and petroleum
stocks has not quite kept pace with the decline in sales.
SURVEY OF CURRENT BUSINESS
6
Within the chemical group, increases in stocks of industrial
chemical companies partially offset substantial downward
inventory adjustments by the drug, soap and other chemical
producers.
Finished goods stocks held by both durable and nondurable
goods producers showed little change in January and as they
generally rise seasonally in this period, this contrasted with
the rapid rise in the fall months. Working stocks declined
in January, largely in purchased materials. Both durable
and nondurable-goods producers reduced their purchases
of materials and parts.
Ordering by department stores was cut back last July, and
orders placed have been below year-ago figures since that
month. January new orders were some 5 percent below
January 1953, while sales in early 1954 were off to a lesser
extent.
Wholesalers reduced inventories in both November and
December after allowance for seasonal influences. This reduction was almost matched by the slackening in sales, so
that stock-sales ratios were lowered only moderately. Inventories rose slightly in the opening month of this year while
sales declined further.
Trade inventories
Trade inventories underwent little net change in January
but at retail and wholesale stocks were somewhat under their
1953 highs. Retail stocks at the start of February amounted
to $22.5 billion on a seasonally adjusted basis, compared
with almost $23 billion last September, and $21.5 billion a
year ago. Inventories representing about 1.7 months' sales
were higher relative to sales than in recent years, with the
exception of early 1951.
The most marked change in retail inventories in January
was in new passenger cars where the buildup was substantially larger than seasonal. Stocks were reduced moderately
in other major durable-goods lines. For the most part,
movements of motor-vehicle dealers' inventories have dominated trends in retail stocks since mid-1952. Of the $2.7
billion seasonally adjusted rise in total retail inventories
from that time to September 1953, automobile dealers accounted for $1.5 billion, other durable goods for $700 million,
and nondurable-goods stores for $500 million. Inventories
of cars in dealers' hands in September 1952, itwill be recalled,
were low as a result of the interrupted flow of steel caused
by the strike. The largest share of the moderate net reduction between September and December of last year was likewise in the stocks of auto dealers.
JM ondurable-goods inventories declined about $150 million
in January, on a seasonally adjusted basis. These stocks
are now back to the level of last spring—following the rise of
last summer. Only food and apparel stores indicated increases in stocks from December to January, while inventories of general merchandise showed the largest decline.
Nondurable goods sales have been relatively stable over the
past year, and stock-sales ratios have remained virtually
unchanged this winter following a slightly downward tendency in the fall.
Department stores have consistently reduced inventories—
when seasonal movements are allowed for—since last August.
March 1954
Table 2.—Business Sales and Inventories
[Seasonally adjusted in billions of dollars]
1953
1954,
!
January
1st qtr. 2d qtr. 3d qtr. [4th qtr.
Inventories (book values, end of period)
Total business
78 3
80 2
82 0
!
81 1
80 7
Durable-goods industries
Non-durable-goods industries
41 3
37.0
42 5
37.6
44 1 !
37 9 1
43 3
37 8
43 1
37 6
44.8
11.5
22.0
46.2
11.7
22.3
47, 1
12.0 i
22.9 !
46. 7
11.7
2° 7
46.4
11.8
22.6
Manufacturers
Wholesalers. ... _ _ _ _ _ _
Retailers. _
- __ _
_ _ _ _ _ _ _ _ _ _
Sales (monthly averages)
48.7
49.9
49.1
47.7
46.3
Durable-goods industries
Non-durable-goods industries
21 0
27.6
21 5
28.3
21 0
28. 1
19 8
27.9
18 8
27, 5
Wholesalers
Retailers
25 0
9.3
14.4
26 0
9.5
14.4
25 6
9,3
14.2
24 5
9.2
14.0
23 7
9.0
13.7
Total business.. : _ _ _
_
_
_ _ -__
_.
Source: U. S. Department of Commerce, Office of Business Economics.
Liquidation in wholesale inventories has been almost entirely confined to durable goods. This group has accounted
for all of the decline in seasonally adjusted book values since
October. Stock reduction among durable-goods dealers was
most substantial in electrical goods (particularly in consumers' appliances) and in machinery and metals.
The relative stability of nondurable-goods wholesale stocks
in recent months has stemmed from minor offsetting movements in the various lines. In one principal area—apparel
and dry goods—there was a moderate amount of liquidation,
offsetting slight increases in other lines.
Hours of Work and Changes in Payrolls
A FEATURE of the expansion of business over the period since
mid-1950 was the extent to which overtime operations were
utilized to meet the pressures of demand. With the reduction of such pressures after the early part of 1953 industry
moved towards a shortened week. This can be seen from
the accompanying chart where, despite the irregularity of
movement and the absence of seasonal correction of the data,
the trend is clear.
Premium pay for overtime, considerable at the end of 1952
and in early 1953, especially in the durable-goods industries, has been diminishing. As a result of intervening wage
rate increases and the fact that combined payrolls in dis
tribution, service, arid Government employment remained
close to the peak reached last July, January 1954 payrolls
were slightly above the volume of a year earlier, despite the
reductions in hours worked and the decline in employment in
manufacturing.
The decline in average hours worked, as in employment,
has been most marked in industries which have experienced
sustained declines in output since early 1953 or relatively
sharp contractions since last summer. Hours have been reduced to some extent, however, even in industries in which
output declines have been relatively slight, with the reduction
least in those of the continuous-process type such as chemical
SURVEY OF CURRENT BUSINESS
March 1954
and petroleum and coal products. In the service and distributive groups the reduction in hours has been slight and
its payroll impact has not been significant.
Average Weekly Hours of
Production Workers in Manufacturing
Changes in manufacturing hours
The average hours worked per week in manufacturing
moved steadily downward during 1953 and the first 2 months
of 1954. The decline in the first half of 1953 occurred while
manufacturing employment was still rising. Many firms
were adding workers while reducing hours, apparently in an
effort to curtail overtime. More recently, in addition to further elimination of overtime a number of industries have
shifted to some part-time operation.
In the first 2 months of 1954 weekly hours averaged 39.4,
a reduction of 1.6 hours from the January-February 1953
average and equal to that of the first 2 months of 1950. For
the year 1953 as a whole, hours of production workers in
manufacturing averaged 40.5, or 0.2 hours below the 2 preceding years but relatively high in relation to other postwar
years.
Absenteeism due to illness and other causes and turnover
resulting in split pay periods result in cutting average hours
actually worked below the scheduled workweek; it is generally assumed that an average of 38 hours represents a
scheduled 40-hour week. On this basis, among major manufacturing industries only the leather and textile industries
indicated the existence of considerable part-time operation
in January and February, although a number of minor industries and individual plants reported part-time work.
ALL
MANUFACTURING
a:
g
X
3 6 I M M 1 1 n 1 1 ( I f 1 1 1 1 1 1 1 1 n i l n n n i n i_lj
1951
1952
1953 >54
Durable Goods
ALL DURABLES
42
tu
uj 38
* 36
UJ
* 44
cc
ID 42
o
Jan. 1953 to
Jan. 1954
All industries.
Commodity-producing
Distributive
Service
Government
..
July 1953 to
Jan. 1954
Percent change
Jan. 1953 to
Jan. 1954
July 1953 to
Jan. 1954
2.1
-6.3
1.1
-3.1
-1.6
2.0
1.3
-5.4
—.7
-.2
0
-1.8
4.0
5.7
1.2
-6.0
-1.3
-.8
0
.4
FABRICATED
METALS
FOOD AND KINDRED
PRODUCTS
I
[Based on data which are seasonally adjusted at annual rates]
Billions of dollars
ALL
NONDURABLES
40
en
Table 3.—Change in Wage and Salary Disbursements
Nondurable Goods
44
40
••
38
PRIMARY METALS
/*
nAX
• •
? TEXTILE-
7
;• MILL PRODUCTS
1 1 1 1 1 I I 1 II ill 1 1 1 1 1 1 1 1 il 1 1 1 ll III i n I t i
36
46
MACHINERY, EXCEPT
ELECTRICAL
PAPER AND ALLIED
PRODUCTS
44
Source: Basic data from Bureau of Labor Statistics, computations by Office of Business
Economics.
Manufacturing industries averaging under 38 hours in the
inost recent period for which detailed data are available
included a number of textile and apparel components, pottery, malleable iron foundries, vitreous enamel products,
radio tubes, railroad and street car manufacture, and shipbuilding and repair. These were industries which, in
general- had experienced relatively large declines in output.
Reduction of hours greater in durable goods
42
id
u 40
£
£ 38
^ 46
CO
o:
§44
PRINTING, PUBLISHING, AND
-ALLIED INDUSTRIES
ELECTRICAL
MACHINERY
\\ 1 ! 1 ! 1 1 1 i l l II 1 1 1 I I 1
1 1 1 II 1 1 1 III 1 1 1
•.;-*-M^''V'\<*\
I*M i M 1-1 1 1 1 1 *i n 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 Pn
ORDNANCE AND
ACCESSORIES
CHEMICALS AND
ALLIED PRODUCTS
X
42
In the durable goods industries weekly hours averaged
40.1 in the first 2 months of 1954, a reduction of 1.7 hours
from a year ago. Nondurable goods which averaged 38.5
40
PRODUCTS\OF
hours in January-February were down 1 hour.
TRANSPORTA TION
PETROLEUM:* AND COAL
EQUIPMENT
The metal-working industries reduced working hours sharp38 \ I I 1 1 1 1 ! 1 i l l 1 1 I I 1 1 I 1 1 1 1 1 | 1 I
ly, the cuts ranging from one and a half to 2.7 hours. These
1951
1952
1953 '54
1951
1952
1953 '54
industries were working long hours in early 1953, the average
DATA 8.L.S.
being generally 41 % hours or more. By early 1954, only
54-11-5
nonelectrical machinery averaged as much as 41.3 hours.
For the 2 metal-working industries in which output has been
declining longest—nonelectrical machinery and primary
associated, in the case of primary metals, with continuous
metals—the cut in hours was accompanied by a relatively
operation in steel mills and blast furnaces which tend to
heavy reduction in employment. To some extent this is
close down less efficient units.
OFFICE OF BUSINESS ECONOMICS.
U. S. D. C.
SURVEY OF CURRENT BUSINESS
8
Employment did not decline appreciably in electrical
machinery until fall, although, hours were reduced gradually
all through the year. In January and February, however,
employment in this industry was cut quite sharply.
Average weekly hours have also been cut in the defense
industries. In ordnance, a peak in excess of 45 hours was
reached in February 1952 but, by the last quarter of 1953,
hours had fallen to 40.5. The work week in the aircraft
industry was down about 2 hours and in the instrument
industry about 1.2 hours. Among the durables, the only 2
industries which declined less than 1 hour over the past year
were lumber and sione, clay and glass products, both
primarily suppliers of building materials.
Hours stable in some nondurables
Working hours in a number of nondurable industries
declined negligibly or not at all during the past year. In
this group were printing and publishing ( — 0.3 hour), petroleum and coal products ( + 0.1), and chemicals (no change).
In all of these industries, production was as high or higher
in early 1954 as a year ago. A slightly larger decline in hours
was reported for the food and beverage industry—-0.5 hour.
Relatively long hours continued to be worked in the paper
and allied products group, in which output rose more than
3 percent over the year, despite a 1 hour reduction. The
rubber industry was down 1.9 hours from a year earlier,
when it averaged 41.2 hours, relatively high for the industry.
Table 4.—Change in Average Weekly Hours and Employment of
Production Workers in Manufacturing Industries
Percent change from January- February 1953 to January February 1954
Hours
Manufacturing..
0. 8
7.9
Durable goods
Nondurable goods
Industries arranged in order of relative decline in hours
-t'i.
— (i 2
— 4.8
— 4. 6
-4.3
Electrical machinery
Furniture
.Fabricated metals
Tobacco
J nst rument s
— 4.3
-4. 1
— 4.0
— 4.0
-3. 8
Lumber
Printing and publishing
Food
("hemicals
.
Petroleum and coal products
-9.5
-6.9
-f». 3
— 3.0
-3. 7
— 3.4
Source: Basic data from Bureau of Labor Statistics, computations by Ottice of Business
Economics.
The position of consumer soft goods as a group, however,
was that average weekly hours early in 1954 were the shortest
since 1949 and employment was generally lower than at that
time. In the textile industry hours averaged 37.6, about
the level of January-February 1949, while employment was
about 200,000 lower. In the apparel industry hours worked
and employment were at about the same rates as in
1949. While hours in the tobacco industry were slightly
longer than in 1949, employment was running about 10 percent less. In the food industry both hours and employment
were below the beginning 1949 average. In leather hours
averaged 38.0, somewhat longer than in 1949, but employ
ment was lower.
Hours have been relatively stable in most nonmanufacturing industries during the past year with the exception o:
mining and construction.
In construction both building and nonbuilding segments
have reduced hours of work by eight-tenths of an houi
despite an increase in construction activity. In the mining
industries, the trend in hours during 1953 was also downward
The only exception was bituminous coal in which the pattern
of operations had been distorted by the 1952 steel strike.
In metal mining, hours in late 1953 averaged 1 hour less than
a year before. At 42.9 in October-November they still
included considerable overtime, however. In petroleum
refining and natural-gas production weekly hours averaged
40.8, seven-tenths of an hour below the preceding year.
Hours were down sharply in the depressed anthracite mining
industry, and averaged 6.5 hours less at the year's end. In
nonmetallic mining and quarrying, primarily a supplier of
construction materials, hours were still long but declined
over the year from 45.5 to 44.9.
Hours in distribution and service stable
In the distributive industries, hours appear to have been
reduced only slightly. Railroads maintained their average
hours and in local transportation hours of work remained
long despite a reduction of more than 1 hour over the year.
Retail trade hours were down two-tenths of an hour. In
wholesale trade, gas and electric utilities, and the telephone*
industry hours continued unchanged.
Data on hours for individual service industries cover only
about one-sixth of the workers employed. Analysis of these
data and the distribution of hours in the comprehensive
Census series indicate a moderate decline in laundries and
cleaning and dyeing plants, relative stability in year-round
hotels, and a slight decline in over-all hours for the service
group.
Premium pay in manufacturing
Primary metals
Textiles
Transportation equipment
Rubber
Apparel
Machinery (except electrical)
Leat her
Miscellaneous
Stone, clay and glass
Paper
March
Reductions over the past year in the length of time worked
in manufacturing industries have resulted in considerable
loss of premium pay for overtime. While no precise calculation of the volume of premium pay is possible, use of data
calculated by the Bureau of Labor Statistics indicating
straight-time average hourly earnings for production workers
in manufacturing and for its durable and nondurable goods
subdivisions are sufficiently accurate to indicate its postwar
trend and approximate magnitude.
Premium pay in manufacturing increased sharply from
1941. to 1944 when, in the peak year of wartime production,
payrolls included almost $2.5 billion in premium pay. In
1947 and 1948 premium payments were still more than
a billion dollars a year. Beginning in 1950, overtime pay
increased substantially with increased employment at
lengthened hours, and it amounted to about $1% billion a
year from 1951 through 1953. About two-thirds of the
premium payments were in the durable goods industries.
During the past year overtime in manufacturing has
diminished sharply in successive quarters from the postwar
high annual rate of more than $2 billion attained in the final
quarter of 1952. The drop has been particularly marked in
the durable goods industries. In nondurables, relatively
slight change occurred after the high fourth quarter of 1952
until the closing quarter of last year. Preliminary estimates
for January 1954 indicate that overtime had fallen to about
the $1 billion rate of 1947 and 1948.
by Murray F. Foss
Investment Programs and
Sales Expectations in 1954
business has scheduled 1954 investment in
new plant and equipment close to the high 1953 rate. Investment programs for 1954 call for an expenditure of $27.2
billion, or about 4 percent below actual spending of $28.4
billion in 1953. Since average costs of capital goods have
been relatively stable over the past year, the comparison can
be accepted as a measure of the volume change as well.
Businessmen also report that they expect sales in 1954 to
compare quite favorably with the 1953 total.
These findings are based upon reports filed during Februarv and early March in the Office of Business EconomicsSec ari ties and Exchange Commission regular annual survey.
By industries, the survey indicates that manufacturing
companies are anticipating a 7 percent reduction in fixed
capital outlays from 1953. Commercial and mining companies
are planning 3 percent increases, while the public utilities have
projected little change from their 1953 expenditures. The
most noteworthy change in investment rates from last year,
a decline of about one-fourth, appears in railroads; other
transportation companies expect to lower their investment
about 4 percent.
There are a number of factors responsible for the maintenance, of capital investment close to record rates. First,
total demand for the products of business is still quite high
despite the recent decline. Second, a number of investment
programs are of long-run nature and—barring a major business downtrend—are not seriously influenced by short-term
fluctuations in business activity. This is particularly true
of industries with strong growth trends such as electric
Capital Goods Programs
BILLIONS OF DOLLARS
Investment Programs
The survey also finds that businessmen have scheduled
capital outlays at a seasonally adjusted annual rate of $27.8
billion in the first half of 1954. This compares with rates of
$28.2 and $28.7 billion in the first and second halves of 1953.
Given the $27.2 billion program for the full year 1954, the
seasonally adjusted rate of plant and equipment expenditure
implied in the second half is about $26.7 billion—a decline
of 4 percent from the anticipation for the current half year.
About three-fourths of the implicit reduction in planned
spending during the final six months of this year is in manufacturing, railroads, and gas utilities.
In an evaluation of the indicated changes from the first to
the second half of 1954, it should be noted that most surveys
of capital spending intentions have tended to understate
actual outlays, particularly in more distant periods. Since
these surveys have been confined to the postwar period,
there is very little experience that can be used as a guide in
judging the behavior of anticipations during a downturn in
business activity. In the limited slowdown of 1949, and
with evidence of a renewed upturn of business by the middle
of the year, capital expenditures proved to be just one percent
lower than had been planned early in that year—although
physical additions were higher.
Factors sustaining investment
The picture that emerges from this latest survey of business
investment intentions is one of comparative strength. If
these plans for the year ahead are realized, plant and equipment outlays would not be a significant independent influence on near-term changes in the aggregate demand picture.
NOTE.—MR. FOSS IS A MEMBER OF THE BUSINESS STRUCTURE DIVISION. OFFICE OF BUSINESS ECONOMICS.
290(500°—54
2
10 —
1946
•# ANTICIPATED
OFFICE OF BUSINESS ECONOMICS. U. S. D. C.
utilities, petroleum, and electrical machinery. In this respect, it is interesting to note that in a survey of large
corporations conducted by this Office about eighteen months
ago, businessmen indicated that their relatively favorable
investment plans for 1953 and 1954 would not be appreciably affected by a "moderate" decline in business activity.
Third, there is still a substantial backlog of projects
under the defense mobilization
program. Many of these are
already under way but the}7 require considerable expenditure for completion. Fourth, replacement requirements are
increasing. This is due partly to the generally rising trend
in the nation's stock of fixed capital. In the recent period
these requirements have been augmented since a good part
of the relatively large volume of equipment purchased in the
late thirties and early forties has reached or is approaching
retirement age. The same is true of shorter-lived equipment
9
SURVEY OF CURRENT BUSINESS
10
purchased in the early part of the postwar period. Furthermore the increase in expenditures for research and development in recent years has probably quickened the pace of
technological change so that modernization requirements
have increased in importance.
This is not to suggest that recent sales and profits declines
have not affected investment programs. The sharp downward adjustment of capital expenditures programs by the
railroads stems in part from the recent drop in railroad operating income. In manufacturing, moreover, it appears that
small and medium firms expect relatively larger declines than
the largest companies. Because they are generally less able
to undertake long-range programs and are more dependent
on funds generated from current operations, the plans of the
smaller companies are relatively more affected by a downturn
in business than are those of large concerns.
Quarterly trends
The present survey indicates that actual capital outlays
in the final quarter of 1953 declined about 1 percent from the
seasonally adjusted annual rate of almost $29 billion in the
previous quarter. The anticipated data for the first quarter
of 1954 point to a rate of about $28 billion—almost the same
March 1954
as the 1953 average—while a further drop of about one-half
billion dollars is expected in the second quarter (see chart).
On a seasonally adjusted basis, manufacturing and transportation companies expect to lower capital outlays in the
first quarter, more than offsetting the rising expenditures
anticipated by the utilities. However, it appears that the
reduction in the second quarter is in large part attributable
to the continued decline in the railroads. Manufacturers
expect second quarter expenditures to show little change
from the first quarter rate, with a small increase scheduled
by nondurable-goods producers partly offsetting lower
expenditures in the durable-goods sector.
Actual and anticipated expenditures in 1953
With actual data for the final quarter of 1953 now available
it is possible to compare the results for the full year 1953
with stated anticipations of businessmen a year earlier.
As in most other postwar years, expectations regarding investment programs proved to be conservative. Aggregate
expenditures rose 7 percent from 1952 to 1953 in comparison
with a 2 percent anticipated increase reported by business in
the survey made early in 1953. On the assumption that
Table 1.—Expenditures on New Plant and Equipment by U. S. Business,1 1951-54
[Millions of dollars]
1952
Manufacturing
_
Durable goods industries
_ _ _ __
Primary iron and steel
Primary nonferrous metals
Electrical machinery and equipment
Machinery except electrical
_ _
Motor vehicles and equipment
Transportation equipment excluding motor vehicles .
Stone, clay, and glass3 products
Other durable goods
__
Nondurable goods industries
Petroleum and coal products
Rubber products
Other nondurable goods 4
IVtining
-- -
Jan.Mar.
Apr.June
JulySept.
1954
Jan.Mar.2
Oct.Dec.
Jan.Mar.
Apr.June
JulySept.
3,238
2,747
3,192
2,945
3,392
2,893
2,903
1,331
1,486
1,376
1,628
1,383
1,319
Oct.Dec.
Apr.- 2
June
11,410
2,622
3,067
2,706
5,168
5,614
5,821
5,220
1,289
1,425
1,304
1,596
1,198
1,511
1,340
316
112
86
163
406
122
94
171
325
142
90
156
464
137
116
211
326
112
88
183
369
120
119
215
322
109
116
191
323
115
158
214
266
90
119
194
246
77
123
187
250
87
275
266
82
284
265
76
250
285
86
298
230
75
317
252
88
322
275
84
278
411
92
316
359
78
278
343
78
265
1,333
1,642
1,401
1,642
1,416
1,707
1,569
1,764
1,510
1,584
188
118
86
312
206
120
89
353
179
93
92
338
195
103
97
384
196
96
86
353
237
96
103
417
189
77
117
376
196
82
125
414
194
68
115
370
207
61
112
353
501
36
92
729
44
101
578
37
85
727
37
99
540
34
111
709
43
101
695
37
79
818
44
85
621
36
108
43
100
310
373
683
512
386
701
456
481
803
990
330
490
720
851
219
397
855 } 1,168
211
339
330
1,430
1,136
1,107
1,233
300
960
5,684
6,018
6,455
6,190
818
351
431
769
434
364
760
250
430
1,247
1,386
1,559
1,310
2,102
2,535
2,762
2,860
929
985
1,011
1,040
247
256
230
252
225
234
265
288
262
273
1,474
1,396
1,312
940
362
388
291
355
313
359
300
341
295
230
150
382
Railroad
1953
12, 276
853
531
420
Foods and beverages
Textile mill products
Paper and allied products
Chemicals and allied products
19542
11,632
10, 852
. . .
1953
1952
1951
154
377
158
376
160
410
707
Transportation other than rail
1,490
1,500
1,464
1,400
383
412
333
373
337
366
386
376
358
367
Public utilities
3,664
3,887
4,548
4,430
831
943
963
1,150
925
1,158
1,219
1,246
1,026
1,170
Commercial and other 5
All industries
7,235
7,094
7,778
8,010
1,784
1,751
1,719
1,839
1,792
1,979
1,984
2,023
1,975
1,989
25, 644
26, 493
28, 391
27,230
6,229
6,816
6,242
7,206
6,339
7,289
7,098
7,666
6,808
6,932
11.78
1-.05
1.56
1.56
3.96
7.15
11.78
1 01
1.45
1.55
3.78
7.00
11.21
.92
1.27
1.37
3.76
7.12
11.73
96
1.32
1.51
4.08
7.12
12.35
96
1.34
1.38
4.40
7.42
12.26
93
1 34
1.38
4 64
7.92
12.30
1 06
1.30
1.59
4 72
7.94
12.22
1 10
1.26
1.52
4 46
8.00
11.70
1 06
1. 17
1.46
4 60
8.04
11.59
1 08
.86
1.38
4 58
8.03
27.06
26.57
25.65
26.72
27.84
28.48
28.92
28.56
28.04
27.52
Seasonally adjusted at annual rates
[Billions of dollars]
Manufacturing
Miming
Railroad
Transportation, other than rail
Public utilities
Commercial and other 5
AH industries
- -
1. Data exclude expenditures of agricultural business and outlays charged to current
account. Estimates after 1951 have been revised.
2. Estimates based on anticipated capital expenditures as reported by business in February
and early March 1954. Seasonally adjusted data for these quarters are also adjusted when
necessary for systematic tendencies in anticipatory data.
3. Includes fabricated metal products, lumber products, furniture andfixtures,instruments,
ordnance, and miscellaneous manufactures.
4. Includes apparel and related products, tobacco, leather and leather products, and printing
and publishing.
5. Includes trade, service, finance, communication, and construction.
Source: U. S. Department of Commerce, Office of Business Economics, and Securities and
Exchange Commission.
SUKVEY OF CURRENT BUSINESS
March 1954
businessmen were thinking in terms of plant and equipment
costs prevailing at the time they made their projections, a
small part of this difference is accounted for by the slight
rise in capital goods prices that occurred during 1953.
Plant and Equipment Expenditures
BILLIONS OF DOLLARS
35
30
TOTAL*
25
20
15
MANUFACTURING
10
TRANSPORTATION*
I
I
I
I960
* ANTICIPATED
I
1951
I
I
I
I
I
1952
I
I
I
1953
I
I
I
1954*
QUARTERLY TOTALS, SEASONALLY ADJUSTED,
AT ANNUAL RATES
DATA: O.B. E. a S.E.C.
OFFICE OF BUSINESS ECONOMICS. U. S. D. C.
facturing, especially in those industries that greatly expanded
capacity following the outbreak of Korean hostilities.
Running contrary to the durable goods trend are the
transportation equipment industry, especially motor
vehicles, and to a lesser extent electrical machinery, where
increases over last year are anticipated.
Primary metal companies expect to reduce their capital
expenditures for the second successive year. Iron and steel
companies and nonferrous producers are both anticipating a
drop of about one-fourth from last year's rates of fixed
investment. The steel expansion program still requires
sizable outlays for raw materials and finishing facilities,
however, and the 1954 projection is still well above preKorean rates.
Machinery companies (other than electric) are expecting
a drop of about 10 percent in their expenditures from 1953
to 1954, reflecting the near-completion of expansion programs
like machine tools as well as the somewhat reduced equipment
demand.
The rise expected by motor vehicle and electrical machinery producers marks the fifth successive year of increasing
outlays in these industries. Electrical machinery has been
undergoing a very pronounced growth, its fixed assets having
increased more than any other major manufacturing industry
since the early postwar period. While growth is also a factor
in the scheduled rise by motor vehicle producers, an added
element of importance is the desire to improve production
facilities under increasingly competitive sales .conditions.
In the nondurable goods sector, paper, rubber, and petroleum companies anticipate maintenance or slight increases
in 1954 capital spending. Food and beverage companies
expect a moderate decline, while textile and chemicals concerns have programed larger reductions in capital outlays
during 1954. Petroleum and paper companies are still
undergoing sizable expansion programs, and expect continued
high rates of investment throughout 1954.
In food and beverages, on the other hand, outlays appear
to be more closely geared to replacement requirements; expenditures in these fields are noticeably lower than they were
in the few years just before Korea. The drop expected by
the chemicals group marks a reversal of the sharp upward
trend in outlays underway after 1949, but as in the case of
iron and steel, 1954 projected outlays are still well above
rates prevailing in the pre-Korean period. Outlays by textile concerns are expected to drop quite sharply—for the
third successive year—to the lowest amount since World
War II.
54-11-9
&
The largest relative excesses of actual overplanned spending occurred in the manufacturing and commercial groups—6
and 10 percent, respectively. Public utilities also spent
more than planned, while the drop in outlays planned by the
railroads was not quite so large as expected earlier. Only
in nonrail transportation, where a slight decrease took place
over the year, did actual programs fall short of the slight rise
that was scheduled.
Within manufacturing, actual increases were generally
larger and decreases smaller than planned. The 7 percent
rise in investment by manufacturers of nondurable goods
exceeded the anticipated increase of 5 percent, while the 5
percent drop forecast by producers of durable goods compares with an actual increase of 3 percent.
Manufacturing outlays lowered
With a few important exceptions most manufacturing industries expect their investment programs this year to be
below 1953. Declines are prevalent in durable goods manu
11
Nonmanfacturing investment strong
The nonmanufacturing industries constitute a source of
strength in the overall investment picture for 1954. As the
first chart indicates, investment in the nonmanufacturing
sector, in the postwar period at least, has typically been less
volatile than in manufacturing. In large part this is due to
the importance of strong growth trends in communications
and public utilities, in trucking and air transport, and in the
railroads' dieselization program. Although the stimulus of
the diesel locomotive program diminished in the more recent
postwar period, capital investment by commercial companies
began to take on increasing importance.
Another reason may be found in the status of expansion
projects under the Government's rapid tax-amortization
program. While overall figures as of September 30, 1953,
show that plant and equipment programs by nonmanufacturing companies were about two-thirds finished (about the same
proportion as in manufacturing)—as measured by the ratio
of the value of work already in place relative to the total
value of certificates issued—investment in excess of $4
billion remains. When projects fully completed are ex-*
SURVEY OF CURRENT BUSINESS
12
eluded, it appears that progress on projects not yet completed
as of last September was less advanced in nonmaniifacturing
than manufacturing—47 as against 56 percent.
Rails cut back sharply
Railroads expect to reduce fixed investment programs
this year from 1953 more than any other major industry, to
the lowest point since 1947. The drop results from a number
of considerations including the recent deterioration in
operating revenues and income.
The diesel program has progressed to the point where better
than three-fourths of the motive power of Class I railroads is
now supplied by diesel locomotives. Installation of new
diesels dropped by more than one-fourth from 1952 to 1953
while backlogs at the beginning of this year were lower than
at any time since the early postwar period. Reduced spending for freight cars is also in prospect. Unfilled orders averaged only five months of installations at the start of 1954 and
were lower than at any time since 1949.
Electric and gas utilities as a group are scheduling investment this year at $4.4 billion, just below last year's record
rate. This is the only major group that had increased its
capital outlays each year throughout the postwar period—
a reflection of the strong growth underlying the electric
power and natural gas industries.
Electric power companies report that their capital outlays in 1954 will approximate those of last year. Despite a
three-fourths increase in generating capacity of privately
owned utilities since the end of World War II, power companies are planning further substantial additions in 1954
and 1955.
Table 2.—Manufacturers' Sales Expectations, 1954, by Industry l
Expected
percent
change
in sales
1953-54
Total
.
Durable goods industries
Primary iron and steel
Primary nonferrous metals_-Ekctrical machinery _
Machinery except electricaL .
Transportation equipment
including motor vehicles
Stone,
clay, and glass producf s
Other durable goods -
0
-8
-17
-12
-6
-8
Expected
percent
change
in sales
1953-54
! Nondurable goods industries.
I
-9 !
!
Food and beverages _ .
Textile-mill products
Paper and allied products
Chemicals and allied prodnets _ _
-- - -.
Petroleum and coal products.
Rubber products.
.Other nondurables 3 .. _ - _ -
3
3
-4
0
2
3
-3
11
re repor
2. Includes fabricated metals, lumber, furniture, instruments, ordnance, and miscellaneous.
3. Includes tobacco, apparel, printing and publishing, and leather.
Source: U. S. Department of Commerce, Office of Business Economics, and Securities and
Exchange Commission.
Gas companies are expecting a moderate drop in outlays
this year due largely to reductions in expenditures on natural
gas pipeline facilities. To a large extent the 1954 decline is
expected to occur in the latter months of the year.
Other nonmanufacturing investment
Mining companies expect a small increase from 1953, with
planned increases in gas and oil well drilling and in investment by iron ore companies more than offsetting programed
cutbacks by coal and nonferrous mining concerns.
The planned increase in the commercial group is a result
of the buoyant activity in store and office building construction. Food and general merchandise chains in particular are
expecting to continue the steady increase in store investment
that began in late 1952. A major factor in the commercial
building boom is the continued population and home building
March l<j:>4
trend in suburban areas; in addition, food chains have extensive plans for modernizing and enlarging stores in existing
neighborhoods. The movement to the suburbs, of course, has
favorable implications for other types of private and public
construction not covered in this survey—such as churches,
schools, and road and utility construction.
Revisions in capital expenditures data
This article also presents revised data on plant and equipment expenditures for the 1952-53 period. The estimates
for 1951 and earlier years are unaffected by the latest
revision and may be compared with the revised 1952-53
statistics. The revised series incorporate expenditure data
now available in the 1952 annual reports of virtually al
corporations registered with the Securities and Exchange
Commission as well as from an enlarged group of nonregistered manufacturing companies. A detailed description of
this series including methodology is contained in articles in
the December 1951 and August 1952 issues of the Survey.
Sales Expectations in 1954
The survey of capital spending intentions also inquired
into businessmen's sales anticipations for 1954. It should
be noted that the future course of sales is to a large extent
outside the control of individual companies. They do, however, provide some indication of management's evaluation
of current economic conditions.
By and large, the results indicate that business expects
sales to be little changed from 1953. Manufacturers are
thinking in terms of a 3 percent sales decline, the utilities
expect their revenues to increase about 10 percent—somewhat less in electric power—while other major industry
groups expect, in the aggregate, to maintain 1953 rates.
Manufacturers of durable goods expect their sales to fall
8 percent this year as compared to 1953, while the nondurable group as a whole is anticipating a 3 percent increase in
1954. At the beginning of 1954 durable and nondurable
goods sales were running almost 10 and 2 percent below their
respective 1953 averages—so that the expectation of th
former are about in line with current volume, but a moderate
increase in the nondurable field is implied.
All durable-goods industries are expecting a lower dollar
volume of sales this year. The largest sales decline in
durables is expected by primary metals producers—both iron
and steel and nonferrous. Sizable declines in sales are also
projected by transportation equipment (including motor
vehicles) and machinery companies. It may be noted that
despite these lower sales expectations, both the transportation equipment and electrical machinery groups anticipate
higher investment.
In the nondurable sector, most industries expect their
sales to increase slightly or remain unchanged from 1953
rates. Textiles and rubber are the only industries anticipating a reduction in sales during 1954.
Manufacturers' sales expectations for 1953 were generally
realized, although as in other years of increased activity,
actual sales were higher than anticipated in most industries.
Durable-goods manufacturers experienced a 14 percent gain
over 1952, in contrast to the 11 percent increase expected
early in 1953, while the corresponding figures for the nondurable group were 6 and 4 percent, respectively.
Deviations between actual and projected sales increases
were pronounced in the nonferrous and motor vehicles industries. Sales by other transportation equipment companies
fell short of expectations. In nondurables, textiles and
rubber were the only major groups whose expectations were
not realized.
by Charles A. R. Wardwell
Structure and Trends
of Wholesale Prices
_L HE wholesale-price index has remained fairly stable
despite the slackening of demand in some segments of the
economy. The Bureau of Labor Statistics weekly index of
wholesale prices averaged 110.5 (1947-49 = 100) in February
1954, slightly lower than the 110.8 figure for January and a
partial offset to the 0.7 percent rise from December to January. The Dec ember-January advance was largely ascribable to a sharp rebound in livestock and live poultry prices
which were continuing their recovery from the exceptionallylow figures reached during the final quarter of 1953 when
they averaged nearly one-fifth below the 1947-49 base period
average. The spurt in raw coffee, tea, and cocoa prices also
contributed substantially to the January rise. Apart from
Table 1.—Wholesale Commodity Prices, Indexes of Major Groups
[1947-49 = 100]
Number of indexes shown
separately
J r.
n
UnHigher Lower changed
Total
All commodities
110.9
110 8
1 641
533
439
676
Farm products
Processed foods
97.9
105. 5
97 9
106.2
93
138
41
57
45
51
7
30
All other than farm products and foods.
114.8
114.5
1,410
435
336
639
Textile products and apparel
Hides, skins and leather products
Fuel, power and lighting
Chemicals and allied products. .
Rubber and rubber products
Lumber and wood products
Pulp, paper and allied products..
97.5
100. 0
111.1
106.2
124. 6
121.1
115.8
95. 5
95.2
110.6
107.2
124.8
117.0
117.1
193
48
39
230
38
63
54
22
8
11
64
17
97
16
30
9
32
5
74
12
12
136
12
16
28
Metals and metal products
Machinery and motive products. .
Furniture and other household
durables
Nonmctallic minerals, structural.
Tobacco manufactures and bottled beverages
M iscellaneous
129.3
123.4
127.1
124. 3
170
375
44
41
190
22
2
32
12
15
21
63
l
l
114.7
119.4
115 2
121.0 !
87
33
115.6
95.3
118.2
101. 1
18 1
56
144 |
i
33 j
19 1
3 1
15
28
69
0
15
10
31
Source: Basic data, U. S. Department of Labor, Bureau of Labor Statistics.
farm products and processed foods, there was little change
from December to January in the other components of the
index.
Stability through divergent movements
Underneath the surface, prices of individual commodities
and commodity groups have shown divergent cross currents.
Comparison of the January 1954 monthly index of all commodity prices with that of the preceding July reveals that
out of the 1,641 commodities or minor groups for which
separate price indexes were published by the Bureau of
Labor Statistics, 533 had risen during the1 6 months' interval,
432 had fallen, and 676 were unchanged.
1. The Bureau of Labor Statistics index is a composite of about 2,000 commodity price
quotations but the number of separate prices or price indexes published in any month is
less than that. Some of the farm products are seasonal and are not quoted in all months
while among the industrial products there are instances such as photographic materials and
motor vehicles where the individual prices are not shown separately but represented by the
minor group index computed from them.
The stability of the all-commodity index in recent months
was therefore the result of one large group remaining constant while the opposing movements of two other large groups
cancelled out. Although the index of farm-product prices
for January was identical with that for last July, the index
had dipped appreciably during the interval and then recovered around the year-end with 41 items advancing in the
half-year period, 45 registering declines, and 7 unchanged.
The processed foods index for January w&s 106.2 compared
with 105.5 for the previous July with 57 quotations higher,
51 lower and 30 unchanged at the end of the interval.
Among all commodities other than farm products and foods,
a much larger proportion—639 out of 1,410—held constant
with 435 higher, and 336 lower; the January index for this
group at 114.5 was 0.3 index points below July 1953.
Notwithstanding the general stability, sharp changes occurred in the prices of individual commodities and minor
groups in this period. Green coffee, cocoa beans, tea,
animal edible fats and oils, inedible fats and oils, for example,
were up 25 percent or more, while commodities showing substantial losses included hides and skins, leather, natural crude
rubber, plywood, Douglas fir, end nonferrous wire and cable.
Pattern of price change
Despite the considerable divergences of price changes with
some hundreds of commodities moving up and hundreds of
others going do\vn, the changes were not altogether aimless.
Upon examination, a fairly definite pattern of changes stands
forth. One aspect of this pattern can be seen in table 1
from the preponderance of upward or downward movement
on the part of the individual items composing the various
price groups.
The greater than average weakness of textile and apparel
prices, for instance, is apparent not only from the 2 percent
drop over the period in the group index but also from the
fact that 4 to 5 individual items declined in price for each
one that rose. Within the group, the above-average weakness of cotton products was indicated by the fact that out
of 57 items priced, 49 fell and only 1 rose. Out of 32 items
of apparel priced, 28 fell and 10 moved up. On. the other
hand, out of 375 individual machinery arid motive product
prices, 144 rose to 41 that fell, while among the 33 individual
nonmetallic structural minerals quoted 19 rose as only 2
declined.
Other aspects of the commodity price pattern which will
be outlined in the following pages are: the relative weakness
of raw materials prices compared to finished products; the
relative firmness of nonagricultural products compared to
those of agricultural origin; and the relative firmness of
goods destined chiefly for defense or producer uses as against
those going chiefly to consumers.
NOTE.—THE AUTHOR IS CHIEF OF THE C U R R E N T BUSINESS ANALYSIS
DIVISION OF THE OFFICE OF BUSINESS ECONOMICS. MR. STUART J.
WINSTON ASSISTED IN THE STATISTICAL COMPUTATIONS.
13
14
SURVEY OF CURRENT BUSINESS
Recent adjustments have affected prices of raw materials
and semimanufactures more than prices of largely finished products (see chart). The greater sensitivity of raw
materials as compared with finished products to changes in
economic conditions has often been observed and is regarded
as a normal feature of cyclical changes. The difference
stems, of course, from the differences between the two types
of markets.
Prices of synthetics more stable than
natural materials
INDEX, 1947-49 = 100
125
SYNTHETIC FIBERS
^^ACfTArr
75
250
New materials versus finished products
y
100
\
I I
March 1954
NYLON
Prices in raw materials markets are more sensitive because
they bring together from many parts of the world demands
for, and supplies of, materials suitable for a wide variety of
uses. Furthermore, since most raw materials are staple,
reasonably durable commodities that can be stored, they are
also subject to wide variations in inventory or stockpile
demand. Stocks of raw materials in hands of producers, in
transit and in hands of industrial consumers commonly bulk
larger relative to current consumption than is the case for
manufactured products.
Finally, because most raw materials are of agricultural
origin, it is more difficult to adjust their current supplies to
current demand than in the case of manufactured products;
hence, raw materials prices are more often depressed by
surpluses or hoisted by relative scarcities, as currently is the
case for coffee, tea, and cocoa.
As the material passes through each stage of the industrial
sequence, the sellers and the buyers are different. Every
act-of processing gives the material a different form utility;
each transport over distance gives it a different place utility;
and in each successive stage the time period covered by
effective supply-demand factors is shorter and ordinarily less
uncertain. Each time the product is sold after having value
added to it, it is therefore in a different market.
Generally the potential area of demand becomes more
restricted in succeeding markets as the increased processing
of the materials aims it for a more specific use and therefore
a narrower area of demand. Finally, since the cost of raw
materials is ordinarily a fairly small portion of the cost of the
finished products into which they enter, substantial percentage changes in raw materials prices are translated—
other costs remaining unchanged—into much smaller percentage changes in final product prices.
I I
-I t=t\-
NATURAL FIBERS
225
WOOL
200
175
150
125
100
75
Natural versus synthetic materials
400
CRUDE RUBBER
300
NATURAL
200
100
SYNTHETIC
0 I I I I I I I M I I I I I I I I I I I I I I I I I II I I I I I I M I I I I I I I I I I 1 I M I I I I
1950
1951
1952
1953
1954
DATA: B. L. S.
OFFICE OF BUSINESS ECONOMICS. U. S. D. C.
54-11-7
The striking differences in price behavior between prices
of natural materials and prices of the synthetic materials
that compete with them are a form of the raw materialsfabricated products contrast. These differences are largely
due to two factors: first, the synthetics have had more
processing than the natural materials; and, second, the
natural materials—especially if they are of agricultural
origin—are produced under quite different conditions of
supply.
This second factor can be illustrated by comparing the
conditions governing the supply of, for example, cotton and
rayon. As a field crop, the supply of domestic cotton is
subject to all of the decisions made with regard to the planting, care, harvesting, and marketing of cotton by several
hundred thousand independent farmers as well as being subject to the uncertainties of the weather and of plant diseases
and insect damage—not to mention the possibility of Government controls. The supply of domestic rayon, on the
other hand, comes from a comparatively small number of
SURVEY OF CURRENT BUSINESS
March 1954
manufacturing establishments; the 1947 Census reported 38
establishments producing synthetic fibers. Hence the current supply of rayon can obviously be much more readily
adjusted to current demand than cotton. From the standpoint of a more prompt and accurate adjustment of supply
to demand, therefore, the synthetic fiber should be, and is,
more stable in price than the plant fiber (see chart, p. 17).
The greater price stability of the synthetic material is also
due in part to the fact that it has had more value added to
it by manufacture than the natural material. Thus the
only processing that raw cotton has had prior to being marTable 2.—Change in All Wholesale Commodity Prices January to
July 1953 and July 1953 to January 1954
Wholesale prices
Commodity price group
Contributions
to change in
all-commodity index »
July 1953 as January 1954
percent of
as percent
1953
January 1953 of July 1953 January
to January
1954
100.9
99.9
0.90
98.9
102.1
100.2
99.7
-.37
1.27
101.2
99.3
102. 2
100.2
100.5 i
100.1 !
1.20
-.04
1. 24
100.0
98.3
101.8
98.9
99.7
98.1
-.30
-.30
.00
Manufactures:
Metal products
Fuels and power _
Foods and beverages
Structural nonmctallic minerals
Forest products
Chemicals
Agricultural nonfoods
Other
102.7
104.7
100.2
104.6
100.4
100.3
97.5
99.5
100.4
98.9
100.7
100.9
100.5 !
100.7 1
100.2 i
99.1
.95
.21
.17
.09
.05
.04
-.21
-.10
Raw or semimanufactured products:
Chemicals
Concrete ingredients
Mineral fuels
Agricultural nonfoods Forest products —
Metals
Agricultural foods _
Other
104.3
104.7
100.3
99.6
100.0
102.6
98.0
88.0
99.2
101.3
100.6
98.9
• 97.1
94.1 1
99.9 !
130.1
.12
.03
.03
-.04
-.08
-.12
-.26
.02
All wholesale commodities
All agricultural products -.
All nonagricultural products
_ _
All largely manufactured products
Agricultural
Nonagricultural
All raw or semimanufactured products
Agricultural
Nonagricultural
_
......
s%
Scrap prices lower
Prices of scrap materials are related to prices of new raw
materials. When various types of goods have been used up
to the point of being junked, the resulting scrap materials
may be recycled back into the productive process and, to a
certain extent, they then become competitive with new raw
materials.
Prices of scrap materials are ordinarily much more volatile
than prices of new materials because of quite different conditions of supply. The cost of the materials appearing in the
scrap markets consists of two major elements: (a) the cost to
the dealers and others handling the scrap for collection, processing—if any—and marketing plus their profit margin,
and (b) the purchase price paid to the owners of the goods
being junked.
Prices received by the owners of the goods being junked
vary widely depending upon industrial demand, while the
prices at which scrap is marketed by dealers, brokers, or
sellers of industrial scrap fluctuates considerably more than
the corresponding new materials. When the scrap undersells new materials by a sufficiently wide margin producers
that can substitute scrap for new materials will tend to use
relatively more of it and thus put pressure on the prices of
new materials.
Comparative percentage changes in the prices of some new
and scrap materials to January 1954 from previous years are
as follows:
Percent
1. Unit is 1 percent in all commodity index. Contribution of each group is the change In
Its index weighted according to its relative importance.
' .
Source: Basic data from Bureau of Labor Statistics, U. S. Department of Labor; computations by Office of Business Economics.
keted is ginning and baling while its competitor, synthetic
stable fiber, is the end product of a series of manufacturing
processes that began with cotton linters, pulpwood, and
various chemicals. The greater value added by manufacture in the case of the synthetic staple fiber means that
payment to the primary producers constitutes a smaller
portion of the market price of the fiber as compared to cotton, while the proportion going to factory labor, fuel, transportation, overhead, and manufacturers' profits form a
larger portion.
The greater price stability of synthetics as compared to
natural materials is evident from the .chart. The extreme
divergence of crude natural rubber from crude synthetic
rubber in 1950 and 1951 was due, in addition to the elements
just outlined, to the fact that it is entirely imported. Hence
the amount available to American users and the price are
settled in a world market and therefore subject to the
greater uncertainties to which foreign supplies from distant
sources are subject, especially in times of conflict.
In all cases illustrated by the chart, the natural materials
have fluctuated more widely than the synthetics, silk yarns
more than nylon yarns, cotton more than rayon both as
fibers and also as yarns,
15
jaw uary 1950 to
January 1954
January 195S to
January 1954
24
—4
-29
Aluminum:
Ingots, virgin
Scrap (average 6 grades) _
26
18
7
11
Copper:
Electrolytic ingots
Scrap (average 3 grades).
63
60
23
19
11
8
-7
-11
0
-23
-22
-36
21
-7
1
-9
Ferrous metals:
Pig iron and ferro-alloys.
Iron and steel scrap
Lead:
Pig, desilverized..
Scrap (average 2 and 3 grades)
Zinc:
Prime western
Scrap (average 4 grades)
Paper materials:
Woodpulp__..
Waste paper-
{
2
The importance of scrap in the metal industries is indicated
by the fact that in recent years scrap has constituted from
45 to 48 percent of the' input into steelmaking while in the
nonferrous metal industries output of secondary metals
(i. e., metals made from scrap) has ranged from one-fourth
to one-third of the total.
Significance of cheaper raw materials
The downward adjustment of raw material prices is one
factor tending to make possible some reduction in the prices
of finished products. ^ The relative contributions of the
major commodity price groups to the change in the general
wholesale price level from January 1953 to July 1953 and
from July 1953 to January 1954 are shown in table 2. It
will be seen that in* the second of th&se periods, the prices
of all raw or semimanufactured materials moved* to depress
16
SURVEY OF CURRENT BUSINESS
the price level by 0.3 percent while the prices of all manufactured products were lifting it by 0.2 percent.2
Agricultural versus nonagricultural prices
The influences upon price level movements of agricultural
and nonagricultural products have been reversed during the
past year. From January to July 1953, the rise of one indexpoint in all wholesale prices was due to a rise of nonagricultural product prices only partly offset by a decline of agricultural prices. In the 6 months from last July to last
January, however, the fractional easing off in the allcommodity price index was ascribable to a minor decline
in prices of nonagricultural products which slightly more
than offset a minor rise in prices of agricultural products.
For the first 8 months of 1953, lower prices of raw materials
were entirely accounted for by declining agricultural materials as nonagricultural raw materials continued to move
up along with manufactured products. Beginning with
September, however, the index of nonagricultural raw materials prices began to ease off; its decline for the half year
from July to last January surpassed that of agricultural raw
materials which recovered substantially between November
and January.
Among agricultural raw materials, food products were
slightly weaker than the nonfoods in the year elapsing
between January 1953 and January 1954. An index of raw
foods based on Bureau of Labor Statistics data stood in
January 2.1 percent lower than in January 1953, while an
index of raw agricultural nonfoods was off 1.5 percent. Raw
foods were weakest during the first 10 months of the period,
recovering substantially in December and January. During
much of 1953, livestock and live poultry prices were down
substantially, but they recovered sharply in the latest months.
Agricultural nonfoods
The relatively stronger trend of raw agricultural nonfoods
as compared with the foods was largely accounted for by the
firmness of plant and animal fibers and leaf tobacco prices as
most other components except inedible fats and oils stood
lower in January than in January 1953. The slight rise
during 1953 in plant and animal fiber prices was due to
Government support of domestic cotton and wool and to
higher prices of such imported fibers as wool and jute.
Leaf tobacco prices were also supported and relatively unchanged in January from the previous January.
Most of the decline in the nonfood price index was due to
crude natural rubber, which was approximately 30 percent
lower in January than in the opening month of 1953, in
continuation of the fall from the March 1951 speculative
peak. However, hides and skins prices, traditionally a
bellwether among sensitive commodities, also contributed
substantially to the decline with a loss of 9 percent during
the year. Virtually all of the drop in hides and skins prices
occurred in the half year following July 1953 and it accounted
for most of the decline in the raw agricultural nonfoods
index for that period.
At the beginning of 1954, agricultural raw materials as a
group had lost all of the price rise recorded during 1950
and 1951. In January raw food prices stood 4 percent above
the June 1950 level while raw agricultural nonfood prices
were 6 percent below it.
2. The carefully defined prices employed in the construction of the wholesale price index
do not, of course, show the exact net cost ol goods to the buyer. A bsorption of transportation
charges, hidden discounts, alterations in terms of payment, and changes in other types of
special concessions, all of which help to determine the actual cost of goods sold, are purposely
and specifically excluded from the price quotations entering into the wholesale price index.
When substantial reversals are occurring in supply-demand conditions, they are
commonly reflected sooner in these and other special concessions before they affect quoted
list prices. At such times, the wholesale price index will lag somewhat in reflecting changes
i n net cost of commodities to buyers when prices are rising as well as when they are declining.
March
Agricultural manufactures
Prices of products manufactured from agricultural materials have held up better than the raw materials prices.
Processed agricultural foods and beverages prices, having
registered moderate fluctuations largely due to seasonal
influences, opened 1954 less than 1 percent above where
they had been 12 months earlier. But while raw foods prices
had lost the major portion of their rise from June 1950 to the
spring of 1951, prices of processed foods retained two-thirds
of the earlier gain, standing in January 10 percent above the
June 1950 average.
Prices of products manufactured from agricultural nonfood
materials have not held up so well as the foods, since the
January 1954 index was only 4 percent above June 1953.
During the past year, these manufactured nonfoods and the
raw products entering into their production have each
declined about 2 percent. Among the manufactured nonfoods, most of which showed losses for the year, cigarettes
registered a substantial rise while cotton manufactures and
manufactured animal feeds accounted for almost all of the
group's decline in the wholesale markets.
Nonagricultural materials
Nonagricultural materials and the products made from
them, governed by quite different conditions of supply and
also of demand from those originating in agriculture, showed
considerably more strength in wholesale markets in the past
year .with a 2 percent rise from January to January. This
relatively greater firmness was, however, confined to the
January-August 1953 period.
Raw materials in this category continued rising for 8
months in 1953 and, notwithstanding their decline in the
past 5 months, stood in January only fractionally below
January 1953 and 10 percent higher than in June 1950.
Fabricated products prices edged steadily upward until
November, then eased off .2 percent in December and
January when they were about 2 percent above January
1953. In the opening month of the year, the prices of these
manufactured products stood one-seventh above the June
1950 level and they were also higher on the average than
prices quoted in the spring of 1951 when the all-wholesale
commodity price index reached its peak.
The greater firmness of nonagricultural prices in recent
months compared with prices of agricultural products is
ascribable at least in part to the prompt adjustment of supply
to changes in demand. Thus with manufacturers' sales in
January 10 percent below their midyear figures, industrial
production schedules were correspondingly trimmed back.
The outstanding firmness of products manufactured from
nonagricultural materials in recent months was manifested in
all major groups—metals, chemicals, forest products, and processed fuels and power. Manufactured metals and forest products are instances where the January 1954 prices of finished
products were substantially higher relative to June 1950 than
their raw materials. The reverse is true in the cases of fuels
and chemicals where the raw materials in January 1954 were
considerably higher relative to June 1950 prices than prices of
the finished products. With regard to the fuels group, however, it should be noted that the most important one, coal,
dominates the raw materials index but its finished product,
coke, exerts only a small influence in the manufactured
products index.3
3. Although different weights may give the price of a raw material relative influence in the
raw materials index that is different from the influence of the products fabricated from it in the
manufactured products price index, the significant differences in the movements of the raw
materials price indexes from those of the manufactured products price indexes are very largely
the reflection of price rather than weight differences. This is easily demonstrated by comparing the prices of a substantial number of individual raw materials with prices of various
products fabricated from them.
SUEVEY OF CURRENT BUSINESS
March 1954
17
Wholesale Prices
Raw or Semimanufactured Materials and Manufactured Products
INDEX, 1947-49 = 100
130
ALL COMMODITIES
120
•7-,,
110
100
RAW OR SEMIMANUFACTURED
90
! 1950
£ 1951
1953
1952
1954
I N D E X , 1947-49 = 100
INDEX, 1947-49 = IOO
130
130
*
AGRICULTURAL PRODUCTS
NONAGRICULTURAL PRODUCTS
120
120
MANUFACTURED
MANUFACTURED
110
110
RAW OR SEMIMANUFACTURED
100
100
RAW OR SEMIMANUFACTURED "V\... t%y.
90
I
I I I I I I I I I I I I I I I I I I I M
i I I I I I I I I I I I I I I I I
130
90 U
I
I I I" I I I I II 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 I I
130
AGRICULTURAL FOODS
METAL PRODUCTS
120
120
110
110
100
100
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 1*1 I I I
90
130
90
LJL
130
FOREST PRODUCTS
CHEMICAL PRODUCTS
120
120
110
110
100
100
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 I i i Iii
90
1950
* 1951
1952
OFFICE OF BUSINESS ECONOMICS. U. S. D. C.
290660°—54
3
1953
1954
90 LL
5 1950
i 1951
1952
BASIC DATA B.L.S
1953
1954
18
SURVEY OF CURRENT BUSINESS
In contrast to the firmness of the prices of finished products
in recent months, prices of all major groups of nonagricultural
raw materials except fuels have been edging downward since
the late summer of 1953. With coal prices steady at their
highest postwar figures, fractional declines in liquid fuels have
scarcely budged the raw fuels price index.
Metal prices
Among the raw metals, the major adjustment has occurred
in scrap or secondary metals. However, substantially lower
quotations were recorded for such primary nonferrous metals
as tin, copper, lead, and zinc following resumption of free
trading in the London market.
Despite the easing of raw metal prices, prices of fabricated
metal products continued to creep higher as recently as in
January. The machinery and motive products group price
index, comprising the most important fabricated metal products, edged upward in every month, more than offsetting very
minor downward adjustments in finished iron and steel, nonferrous metal products such as wire and cable, fabricated
structural metals, plumbing equipment, household appliances, radios, television sets, phonographs, watches, and
clocks.
Prices of metal manufactures have remained firm while
demand has declined, partly because output was quickly adjusted downward. Sales by manufacturers of fabricated
metals, machinery, and transportation equipment in January
were 11 percent lower than in July, while fabricated metals
and metal products output as measured by the Federal
Reserve index was off 9 percent.
Forest products
Manufactured forest product prices rose to the end of the
year while prices of raw materials have declined since April
1953. The movement of lumber prices dominated the raw
materials index with woodpulp and waste paper in secondary
roles, while prices of paper and paperboard products largely
governed the finished goods price index with millwork,
plywood, and wood furniture secondary. Hence the decline
in raw forest products prices has been chiefly due to lower
quotations for lumber although waste paper dropped substantially. Downward adjustments in prices of plywood
and very small reductions in prices of millwork and wood
furniture among the finished products were more than
offset by firm and rising prices of most paper and paperboard
products.
Chemicals
Since late summer of 1953, prices of raw or semimanufactured chemicals, easing off, have diverged from manufactured
chemical products which have edged upward. The downward movement of raw or semimanufactured chemicals
prices is entirely due to industrial chemicals. Among the
manufactured products, only synthetic textiles were adjusted
downward while a broad but diverse group of other chemical
products held firm or continued gradually higher to the yearend. Among these were soaps and synthetic detergents,
plastics, and prepared paints.
Shifts in price relationships
As a result of the upheaval and subsequent adjustment of
prices associated with the Korean period of defense buildup
and the accompanying investment boom, interrelationships
between price groups are currently somewhat different from
what they had been previously. It is convenient to use
March 1054
June 1950 as the starting point for measuring these shifts
as the Bureau of Labor Statistics index of all wholesale prices
was 100.2 in that month (1947-49 — 100) after recovering
moderately from somewhat lower levels during the recession
of 1949. The subsequent period marked the second phase
of the postwar price advance, the first having ended with the
• 1948-49 correction.
Measurement of the changes from this particular month
carries no implication that the price relationships at that
time were in any sense proper or balanced or the contrary.
It is simply a convenient starting point in the pre-Korean
period from which to measure.
Major results of this second phase of the postwar price
rise are two: (a) as of January 1954, the wholesale price level
was one-tenth above that of June 1950, and (b) substantial
shifts have occurred in the structure of wholesale prices as a
consequence of divergent movements during the interval of
various commodities and groups.
Outstanding shift between June 1950 and January 1954 has
been the 5 percent loss of raw material values relative to the
prices of all wholesale commodities and the concomitant
gain of nearly 2 percent in the relative value of manufactured
products (see first chart). This shift manifests itself currently in a widening spread between prices of raw or semimanufactured materials and prices of the products made from
them.
All groups of raw or semimanufactured materials, except
chemicals which appreciated sharply, have depreciated relative to the general price level in varying degrees between
these two dates. Agricultural materials experienced the
largest decline with the nonfoods dropping 13 percent relative
to the general price level as against 8 percent for the foods.
Semimanufactured forest products lost 6 percent compared
to all wholesale prices but still retained 4 percent of their
earlier appreciation from the 1947-49 base period. The
relative decline of raw or semimanufactured fuels and metals
was only nominal.
Shifts among manufactures
Although the index of prices of all manufactures rose
slightly relative to all wholesale prices between June 1950 and
January 1954, the major component groups diverged widely.
Three major groups of manufactures appreciated substantially; forest products rose 9 percent, metal manufactures
including machinery and vehicles, 7 percent and nonmetallic
structural mineral manufactures 6 percent relative to the
general level. Prices of the following groups of manufactures
fell relative to the general price level during the interval;
chemicals, off only nominally; fuels and power, down 3 percent; manufactured agricultural products, foods off 2 percent
and nonfoods losing 5 percent; and apparel which declined
3 percent in this period and a total of 11 percent since the
1947-49 base period.
The most common pattern running through these various
shifts indicates that the necessities of the period favored the
appreciation of those commodities, largely durables, required
for defense and investment purposes. Commodities destined chiefly for consumers and subject to less stringent conditions of supply and demand consequently did not match
the rise in the general price level. Thus metals and metal
products moved up relative to all commodities while foods,
textiles and apparel lost ground; lumber and wood products
and nonmetallic structural minerals gained while agricultural
nonfoods declined.
The pattern is by no means perfect; prices of some durables, plywood for example, have lagged relatively while
£ rices of some nondurables have been quite strong. But the
road trend is evident from the change in the ratios of the
March 1954
SURVEY OF CURRENT BUSINESS
following special price indexes to the index of all wholesale
prices (1947-49 = 100) in June 1950 and January 1954.
Raw or semimanufactured materials*
All commodity prices^ 100 percent
Durables: lumber, concrete ingredients June mo
January 1954
and all metals
--109. 6
105. 0
All other raw or semimanufactured
materials
95. 8
91. 7
Manufactures:
Durables: millwork, plywood, wood
furniture, all metal products, all
nonmetallic structural minerals
All other manufactures
106.5
97. 0
112. 9
95. 5
Although durable raw materials were still above the allcommodity price level in January 1954, the spread between
them and all other raw materials had not increased in comparison to the earlier period. Among manufactures, however, prices of durables in January 1954 showed a substantially increased margin relative to prices of nondurables as
compared to June 1950.
Another aspect of price shifts was obtained by singling
out two special groups of commodities; those half again as
high or higher than in the 1947-49 base period and those
one-third or more below base period levels. There were 62
individual items in January priced 50 percent or more above
the 1947-49 average prices. These included a variety of
commodities ranging from 34 metals or metal products to
green coffee and foreign apparel wool.
There were 50 commodities or minor groups priced onethird or more below the 1947-49 average prices. One
prominent group consisted of 10 fats and oils, including
both edible and inedible kinds. Another comprised 14
chemicals including 10 drugs and pharmaceutical materials.
A textile group included burlap and one type of cotton goods
in addition to women's nylon hosiery and 7 other synthetic
textile products. There were 6 agricultural foods. Among
a group of agricultural nonfood products was the hides and
skins group index pulled down by low quotations of all 6
grades of cattle and calf skins and 2 kinds of goat skins.
Lowest of all price indexes—and illustrative of what happens
in the case of newly developed products—were penicillin, 10
percent and streptomycin, 11 percent of the 1947-49 average
prices.
Generalizations as to the significance of these shifts would
have to be made with considerable caution. Price shifts
relative to the general price level might, for instance, be
only temporary and might be reversed at some future time.
That could easily be the case for agricultural commodities—•
especially coffee and cocoa—which have appreciated relative
to the general price level because of current shortages or
those others which have fallen because of existing surpluses,
such as fats and oils. The metals might not retain their high
vantage point relative to the price level in a future period
when personal consumption absorbed a considerably larger
share of the national product and defense combined with
fixed investment a smaller share.
Furthermore, lowering of a given commodity's price relative to the general level of prices could occur for quite
different reasons. For an established product, it could stem
from a decline in demand relative to a fairly static supply
situation as in the case of most textiles and apparel; or, in
the case of a new and fast-growing industry it could result
from a rapidly expanding productive capacity progressively
19
reducing cost ahead of rising demand as in the case of penicillin and streptomycin and, on a less dramatic scale, synthetic fibers and textiles.
Technical Note
The indexes of raw or semimanufactured materials and manufactured
products used in this study were obtained by regrouping various components of the Bureau of Labor Statistics index of wholesale commodity prices. All components were used, each one weighted by the
same weights employed by the Bureau of Labor Statistics.
The components of the indexes of raw or semimanufactured materials and of manufactured products as regrouped by the Office of
Business Economics are as follows:
Agricultural products
Foods: Raw.—Fruits and vegetables; grains; livestock and live poultry;
fluid milk; eggs; peanuts; cottonseed; soybeans; raw coffee,
tea and cocoa beans.
Processed.—Processed foods group less fish; alcoholic beverages;
non-alcoholic beverages.
Nonfoods: Raw.—Plant and animal fibers; hay; hayseeds; flaxseed;
copra; leaf tobacco; hides and skins; inedible fats and
oils; natural crude rubber.
Manufactured.—Cotton, wool, silk and other textile products; leather; footwear and other leather products;
tires, tubes and other rubber products (with % weight);
cigarettes, cigars and other tobacco products; and manufactured animal feeds.
Forest products
,
Raw or semimanufactured.—Lumber, woodpulp and waste paper.
Manufactured.—Millwork; plywood; paper; paperboard; converted
paper and paperboard products; building paper and board; wood
furniture, household and commercial.
Chemicals
Raw or semimanufactured.—Synthetic and reclaimed crude rubber;
synthetic fibers; industrial chemicals; paint materials; and fertilizer
materials.
Manufactured.—Synthetic yarns, fabrics and knit goods; prepared
paints; drugs, Pharmaceuticals, cosmetics and perfumes; mixed fertilizers; other chemical products; tires, tubes and other rubber products (with l/2 weight). '
Fuels
Raw or semimanufactured.—Coal, gas, petroleum and natural gasoline.
Manufactured.—Coke; electricity; gasoline, kerosene, fuel oils; and
lubricants.
Metals
Raw or semimanufactured.—Iron ore; scrap; pig iron and ferro-alloys;
semifinished steel; castings and forgings; nonferrous primary and
secondary metals and scrap.
Manufactured.—Finished iron and steel products, including structural
metals; nonferrous metal products; metal products and equipment
such as containers, hardware, plumbing, heating, furniture, appliances, including radios and TV sets, silverware, cutlery, watches and
clocks, machinery and motive products.
Nonmetallic minerals, structural
Raw or semimanufactured.—Concrete ingredients.
Manufactured.—Glass products; concrete products; clay products; gypsum products; vitreous china plumbing equipment; asphalt roofing
and other nonmetallic minerals.
Included in totals but not shown separately
Raw.—Unprocessed fin fish.
Manufactured.—Processed fish; apparel; upholstered furniture, bedding,
and floor covering; toys; sporting and athletic goods; notions and
accessories; jewelry and photographic equipment; and other miscellaneous products.
by Walther Lederer
Balance of PaymentsForeign Dollar Receipts Maintained
A HE principal feature of the transactions between the
United States and foreign countries during the final
quarter of 1953 was the continued rise in foreign gold and
dollar holdings. United States payments to foreign countries have exceeded receipts without interruption since the
second quarter of 1952 with a resulting addition of approximately $3.9 billion to foreign gold and long and short term
dollar assets. Liquid dollar assets alone plus gold held by
foreign countries (excluding the Soviet bloc and international institutions) amounted to about $23 billion by the
end of 1953'—about $2.5 billion more than at the beginning
of that year. About $2.1 billion of that increase resulted
from transactions with the United States.
Rise in foreign reserves
The net payments of nearly $400 million in gold and
dollars to foreign countries during the fourth quarter were
approximately $350 million less than during the previous
quarter. This decline, however, was largely seasonal and
does not in itself indicate a basic change in the balance of
our international transactions. In fact, the decline in net
payments to foreign countries was about the same as during
the same period in 1952 and the absolute amount of the
net payments in both the third and fourth quarters of 1953
was also about equal to the previous year's. Partial data
for the first two months of the current year indicate that
the rise in foreign dollar holdings continued.
Major seasonal influences during the fourth quarter which
raised net United States receipts above, or reduced net
United States payments below, the annual average included
larger receipts of interest and amortization, and lower
tourist expenditures. During the third quarter, the same
types of transactions resulted in net payments above the
annual average.
Foreign dollar receipts unchanged
The decline in business activity in the United States had
several largely offsetting effects upon the balance of payments. Merchandise imports into the United States fell
about $100 million below the value during the third quarter,
although during most postwar years imports rose slightly
during this season. The decline in foreign dollar receipts
from lower sales to the United States was offset, however,
by a change in the movement of private portfolio capital
from an inflow of over $110 million to an outflow of $90
million.
This reversal may-—at least in part—be attributed to the
loosening up of the capital market \\iiich favored the flotation of new security issues in the United States by Canada
and the International Bank. The higher interest rates of
the previous quarter had lowered bond prices and conseNOTE-MR. LEDERER IS A MEMBER OF THE BALANCE OF PAYMENTS
DIVISION, OFFICE OF BUSINESS ECONOMICS.
20
quently induced repayments of foreign loans and a postponement of new issues. Inflows of portfolio capital, from
Europe continued, however, reflecting the greater availability of domestic capital as well as dollars in some European
countries. That inflow resulted from the repayment of
bank loans as well as the purchases of a large portion of the
newly issued bonds of the International Bank.
Short term U. S. capital movements also changed in favor
of foreign countries. Net outflows to all countries, except
Brazil, rose from the third to the fourth quarter by about
$150 million. Commercial claims on Brazil were reduced
with the help of the $300 million loan previously provided
for that purpose by the Export-Import Bank.
Taking the renewed private capital outflows into account,
total foreign dollar receipts from "commercial" transactions1
(see chart) during the fourth quarter about equaled those
during the third, although tourist expenditures including
fares declined seasonally by about $250 million. Military
expenditures rose from $685 million during the third quarter
(revised) to $744 million during the fourth. The net outflow
of funds on Government grants and capital (excluding aid in
the form of military end items) dropped from about $560
million to about $425 million. The total of foreign dollar
receipts both from private and these Government sources
remained substantially unchanged from the preceding
quarter, and was also the same as during the fourth quarter
of 1952.
Imports from sterling area stable
Dollar receipts of the sterling area from the sale of goods
and services to the United States and from private loans and
investments remained unchanged from the third quarter except for the seasonal decline in United States tourist expenditures. United States merchandise imports from the British
dependencies as well as the independent countries of the
non-European sterling area were apparently less vulnerable
to the change in domestic business conditions than the drop
from the second to the third quarter suggested. In part, the
large drop in imports from the second to the third quarter
was due to seasonal factors. Another factor contributing
to the stabilization of import values was the slowdown in
price declines of several important sterling area products.
Merchandise imports from continental Europe increased
slightly from the third to the fourth quarter as imports of
steel mill products which rose rapidly after the 1952 steel
strike were replaced by imports of miscellaneous manufactures.
Military expenditures in Western Europe and the dependencies rose from $308 million to $372 million, partly because
of rising deliveries on offshore procurement contracts and
partly because of higher construction expenditures.
1. "Commercial" transactions as used in this connection include all purchases of goods
and services except those by the military forces, private U. S. capital movements, private
remittances, Government pensions and similar transfer payments, and errors and omissions.
"Commercial" exports of goods and services include all exports except those of military
end items financed by Government military aid programs.
SURVEY OF CURRENT BUSINESS
March 1954
Imports from Canada rose considerably less from the third
to -the fourth quarter of 1954 than during other recent years,
and a decline in imports from Latin America exceeded the
seasonal reduction in sugar imports. Lower shipments of
copper and wool were responsible for the change. The recent
rise in coffee and cocoa prices, which would tend to offset the
decline in demand for other imports from Latin America, had
not yet affected the unit values of these products arriving
here during the fourth quarter. It may be expected, however, that the higher prices will raise foreign dollar receipts
by a substantial amount, even if reduced supplies affect the
rolume of imports.
Exports up
Exports of goods and services excluding those transferred
under military aid programs rose by about $320 million, about
$100 million less than from the third to the fourth quarter of
1952. The rise includes the seasonal increase in incomes on
investments, which is partly offset, however, by the seasonal
decline in foreign tourist expenditures in the United States.
Income on private investments during the last 6 months of
1953 was, however, about 6 percent lower than during the
corresponding period of 1952. This decline is in part connected with, and represents a partial offset*to the decline in
the value of imports.
Adjusted merchandise exports other than those under
military aid programs rose by about $260 million. This rise
21
was about $70 million less than during the corresponding
period of 1952. During that year the rise was accentuated,
however, by the increase in production after the termination
of the steel strike. If allowance were made for shipments
during the fourth quarter of 1952 which were postponed by
the strike, the rise in exports from the third to the fourth
quarter of 1953 may be considered to be actually higher
than in the previous year.
Although the improved dollar position permitted several
foreign countries to relax restrictions against imports from
the United States, the advance over the third quarter is not
necessarily due to any change in longer run trends. It may
have arisen from strictly temporary factors, such as speeded
up deliveries facilitated by the reduced domestic demand,
and, of course, seasonal factors, which raised exports of cotton
and tobacco. Tobacco exports were also increased by Government sales under the program for the disposal of surplus
agricultural commodities for foreign currencies. Caution in
interpreting the upturn in exports is also indicated by reports of declining export orders and the very sharp decline
in nonmilitary exports from December to January.
Shipments to Latin America increase
Merchandise exports to Latin America started to recover
some in the fourth quarter after a decline which extended
back to the first half of 1952. The rise was most prominent
in the exports to Mexico and Venezuela, but was noticeable
United States Balance of Payments
Government grants and military expenditures account for
excess of foreign dollar receipts over expenditures
30
t
MILITARY AID (SUPPLIES AND SERVICES)
GOVT. GRANTS AND LOANS*
(EXCL. MILITARY A I D )
— FOREIGN
DOLLAR
RECEIPTS
30
MILITARY PURCHASES
"COMMERCIAL"
TRANSACTIONS*
EXPORTS OF GOODS AND SERVICES
INCLUDING MILITARY AID
"COMMERCIAL" EXPORTS OF
GOODS AND SERVICES
20
20
10
10
1946
1947
1948
1949
I960
1951
1952
I
1953
QUARTERLY TOTALS, AT ANNUAL RATES
* SEE TEXT FOOTNOTES
OFFICE OF BUSINESS ECONOMICS. U. S. D. C.
SURVEY OF CURRENT BUSINESS
22
also in the case of Cuba, Brazil, Colombia and Chile. For
some countries, such as Mexico and Cuba, the rise in United
States exports reflects in part the completion of inventory
adjustments of local importers. The decline in the demand
for non-ferrous metals produced in that area apparently had
not yet affected the demand for United States exports.
However, the rise in exports to Latin America other than
Brazil was facilitated by an $80 million rise in short-term
credits largely by United States banks. Recorded net repayments of short-term commercial credits by Brazil in the
last quarter of 1953 amounted to $146 million.
The rise in non-military merchandise exports to Western
Europe appears to have been largely seasonal. The export
value during the fourth quarter of 1953 was nearly equal to
that in the last quarter of 1952. Exports to Canada dropped
off in contrast to substantial increases from the third to the
fourth quarter during the three preceding years. This
March 1954
development may reflect the decline in Canadian industrial
production and farm incomes during the last months of the
year.
Europe improves dollar position
Official and banking dollar assets (including United States
Government securities) held by the United Kingdom declined during the fourth quarter by $186 million without
offsetting gold purchases in the United States, the first
decline for these items since the first quarter of 1952. Transactions by the sterling area with other countries, however,
compensated for these losses in United States dollar balances
since the British official reserves, which include gold, U. S.
and Canadian balances, increased during the same period
by $32 million.
Transactions of the sterling area with the United States
during the fourth quarter were in virtual balance, although
Table 1.—Balance of Payments of
[Millions of dollars]
All areas
Dependencies
Western Europe
Eastern Europe
Item
Year
Exports of goods and services:
Merchandise, adjusted
Transportation
Travel
Miscellaneous services:
Private
Government
Income on investments:
Private
Government
I
II
III'
IV*
Year
II
I
I
IIP
IV»
I
Year
16, 437
1,287
545
4,256
317
112
4,508
333
149
3,717
328
172
3,956
309
112
6.287
551
41
1,719
133
9
1,820
145
12
1,304
142
12
1,444
131
8
498
38
698
470
173
127
175
135
174
99
176
109
280
194
70
54
72
55
68
36
70
49
16
00
1,649
250
409
31
419
31
372
67
449
121
182
201
42
24
57
18
45
52
38
107
113
3
24
31
2
26
00
21,337
5,425
5,750
4,929
5, 233
7,737
2,051
2,179
1,659
1,848
674
165
178
159
172
11, 904
1,117
908
2,984
264
143
3,125
302
236
2,916
297
373
2,879
254
156
2,751
590
292
629
131
27
715
171
95
687
164
122
720
124
48
982
29
56
252
8
17
259
6
16
220
7
13
251
g
10
266
1,985
71
464
65
473
66
533
64
515
213
755
55
167
52
169
53
194
53
225
69
(*)
17
00
18
362
86
91
20
92
20
78
23
101
2i
242
37
62
8
63
8
56
10
61
11
4
1
1
1
1
4,037
4, 313
4,286
3,992
4,879
1,079
1,272
1,286
1,242 1,139
296
299
1,437
643
1,241
2, 857
972
907
373
606 -465
Unilateral transfers [net to foreign countries
(-)]:
-122
Private
-487
-120
Government:
-4, 284 -1,282 -1,385
Military supplies and services 1
-518
-1, 773 -471
Other grants
-141
-40
-35
Pension and other transfers
-128
-117
-246
-57
-64
-62
-63
-815
-378
-33
-802 -3,464 -1, 006 -1, 127
-346
-406 -1,126 -329
-11
-33
-30
-669
-230
-6
-662
-221
-6
(«)
-6,684 -1,908 -2,064 -1,354
1, 358 -4,866 -1,399 -1,547
-967
-952
-18
_
Total
Imports of goods and services:
Merchandise, adjusted
Transportation
Travel
_
Miscellaneous services:
Private
Government
Income on investments:
Private
Government
Total
Balance on goods and services
Total
United States capital [net outflow (-)]:
Private:
Direct investments
Other long-term
Short-term
Government:
Long-term
Short-term
Total
Foreign capital [net outflow (— )]:
Long-term:
Transactions in United States GovOther investments
Short-term:
Official and banking
Other
Balance on foreign capital and gold
Transfers of funds between foreign areas
[receipts from other areas (— )] and errors
and omissions
r
16, 628
4,709
1, 388
(«)
—37
209
-20
-35
19
37
6
73
19
63 !
-25
-1
54
-51
—61
-231
10
30
-20
-59
25
-182
4
-20
1
165
-13
53
-7
48
5
42
-5
106
-6
0
-209
67
-201
304
67
151
-16
102
-65
-26
18
12
-118
80
-28
124
•«
46
10
5
-37
41
(•)
00
988
40
26
40
326
-86
434
49
-15
39
202
37
935
20
-89
44
435
—I
378
-3
W
32
211
-20
(*)
16
(*)
(X)
18
259
-114
-100
—21
(*)
— 14
-25
1
0
—6
21
-1
00
(*)
—4
-15
IV*
6
i
1
8
(')
(')
1
1
(*)
4
00
«
2
3
10
(*)
(*)
00
(*)
(*)
9
8
(')
1
(')
11
10
00
(*)
1
8
00
00
39
11
11
9
8
-14
-8
-9
2
1
-3
—5
-6
oo 2
--5
-17
(*)
(')
00
1
3
x
1
00
-11
-1
(*)
(')
00
-24
(*)
-24
-5
1 (*)
(*)
(•)
i
2
(*)
25
36
IIP
1
285
—4
139
-90
2
26
63
125
17
9
1 (*)
4
4
(«)
(«)
32
1
4
W
-18
-180
111
46
89
194
4
(*)
-131 -121
—184
194
90
-245
117
9
3
4
00
— 194
-35
10
-590
131
9
2
4
(*)
-697
180
148
(•)
00
(•)
5
(*)
oo
1
5
(')
2
00
00
1
1
1
2
-1
8
i
-1
7
-8
12
-4
18
(x)
—1
(*)
-12
3
10
1,163
603
128
302
130
1,026
505
103
297
121
13
1
2,296
758
398
747
393
2,077
505
552
676
344
-13
9
269
-29
162
165
-31
-372
-63
-66
562
153
1
1
-17
-2
-.1
-1
(*)
00
-8
(*)
10
o
-10
-2
137
128
35
I
x
Revised.
*» Preliminary.
Less than $500,000.
1. Includes loans and returns of military equipment.
2. Exports of goods and services have been adjusted to exclude exports of military-end-use
W
125
11
1
II
I
IV* Year
IIP
II
-145
-100
144
10
1
items financed through grants under the military aid programs and to include in merchandise
for the total sterling area—but not for the United Kingdom and other component areas—
"Special category" exports sold for cash. For the definition of "Special category" goods see
SURVEY OF CURRENT BUSINESS
March 1954
they included the annual payments of about $140 million on
the British loan of 1946 and other credits. This represents
practically no change from the fourth quarter of 1952 when
the transactions with the sterling area were also in balance.
The decline in reserve accumulations by the sterling area
from $160 million in the fourth quarter of 1952 to $32
million in the fourth quarter of 1953 was due, therefore,
almost entirely to changes in transactions with countries
other than the United States.
Gold and dollar holdings of continental Western Europe
continued to increase at about the same rate as during the
diird quarter. Again the rise was distributed among a large
number of countries, including Germany, Italy, France,
Austria, and Greece.
Canadian dollar assets rose faster than during the third
quarter. The increased supply of U. S. dollars was also
permitted to raise the exchange rate of the Canadian dollar.
23
The shift in the movement of portfolio capital apparently was
the main reason for the strength of the Canadian exchange
situation during the late months of last year which continued
during the first months of the current year.
Drawings on Latin American dollar reserves are accounted
for by Cuba and Brazil. The decline in Cuban dollar holdings is partly seasonal but may also reflect renewed demands
for imports. Brazilian holdings declined as funds previously
obtained from the Export-Import Bank for the payment of
overdue claims of United States exporters were utilized for
that purpose.
The only other major change in foreign dollar holdings during the fourth quarter was the decline in Japanese dollar
assets. This resulted partly from the use of dollars to settle a deficit with the sterling area. U. S. military expenditures in Japan did not decline after the conclusion of the
Korean armistice but relatively small rice harvests neces-
the United States by Areas, 1953
[Millions of dollars]
Sterling area 2
La tin Arrlerican Republics
Canada
All other countries
International institutions
United Kingdom
Total
IVv
Year
Year
I
3,225
102
321
799
23
60
924
26
89
776
28
108
89
22
(*)
21
1
23
(*)
23
1
315
(*)
74
(*)
82
(*)
58
(•)
101
(«)
978 1,142
993
4, 053
IIP
II
I
II
IIP
725
82
34
773
80
37
747
84
40
167
27
41
6
42
42
6
626
23
15;
147
726 3,077
329
25
143
64
IVp
Year
832 3,328
83
267
34
32
I
II
III'
IV*
Year
886
68
858
73
10
763
6,
821
61
6
I
II
1
4
11
42
97
248
23
67
24
72
2,
57
25
52
46
12
12
172
(
400
19
IK
100
85
105
12
5
1
940 4,391 1,045 1,093 1, 076 1,177 4,392 1,166 1,141 1,011 1,074
64
17
14
IK
Year
r
20
I
II
594
140
15
164
3
;
137
37
128
36
5
165
33
3
54
6
164
14
40
4
42
41
4
41
4
75
94
108
93
27
34
24
23
89
730 1,127
271
260
238
III' IV* Year
I
II
1 1,630
234
35
440
60
363
59
10
389
59
11
437
56
214
26
53
8
54
53
302
76
105 (•)
13 2,547 644
84
10
68
585
588
IV*
III'
11
1
III' IV*
358
1
2,519
94
294
602
22
26
651
24
61
630
24
164
22
110
6
23
6
23
6
38
101
18
23
24
18
4
F
636 3,583
24
256
43
242
990
67
66
926
63
57
884
65
68
4
26
16
84
21
22
20
36
4
10
6
3
1
3,158
707
794
884
773 4,196 1,152 1,076 1,045
895
271
349
109
167
-4
-1
-2
2
1
-53
1
1
-2
-36
-23
-4
2
-8
—2
-2
—2
-10
-3
-4
-3
-338
-20
12
—93
-74
1
-86 -102
32
109
2
11
-4
(*)
—2
(*)
(*)
-349
-81
47
-140
52
-3
1
22
-168
193 -107
0 -116
-57 -112
-87
47
189
2
-1 -344
0
(•)
-61 -142 -221
-2
(*)
17
-11
c
-1
-23
-12
-9
31
783 2,033
61
149
24
51
21
2
935
501
36
564
39
487
37
6
481
37
6
233
24(
235
3
227
8
8
2
15
1
4
27 (*).
4
923 3,172
787
857
772
756
44
5
4
31
253 1,220
379
284
239
318
20
12
10
-11
- 43
-37
-38
-31
-14 -149
-12
-16
-8
-8
—1
29
-15
4
-1
-36
-28 -1,555 -438
-55
16
69
-15
9
64
-30 -149
15
4
65 -27
c
-1
-785 -270 -249 -132 -134
-523 -100 -140 -139 -144
04
2?
-98 -25 -26
-52
-10 -127 -106 -101
-1
1 00
24
(«)
-25 -97 -48 -51 -200
-1
4
30
-33
-452
-333
-332
4
-10
-11
18
20
-35
c
-25
6
2
-67
1
-53
-81
-61
9
4
0
-74
2
4
1
10
8
36
1
5
3
-20
2
-11
2
34
2
-88
-7
64
0
-73
1
17
-1
-27
-3 -74
1 (•)
2
-1
124
95
23
8
2
8
1
2
2
3
-6
-1
-4
80
270
173
120
40
-63
16
118
-55
40
-87
76
-35
23
-49
136
-18
-11
519
8
222
107
182!
60
51
-13
63
-11
-89 -131
-86 -106
-127
13 -111
Foreign Trade Statistics Notes for February 1953, published by the Bureau of the Census.
3. Military aid to the sterling-area countries is not shown separately.
NOTE.—Net foreign investment equals balance on goods, services, and unilateral transfers
44
33
44
35
44
36
44
34
131
10
35
2
35
32
31
2
129
10
32
2
&
32
31
3
686
736
310
355
355
311
-42 -151
671
619 1,331
-83
111 -204
-39 -95 -117
-9
5
-1
41
-412
176
138
g
-63
0
—2
-1
48
-_1
79
(*)
1
52
-31 -497 -126 -107 -154 -110 -325
69
55
-11 -236
53
-3
76
29
-126
50
-24
-50
1
-13
-49
-7
182
203
-37
-31
9
185
-69
150
42
7
-95
50
18
82
-81
157
57
26
-3
-86 -180
66 -61
3 -119
30
37
160
60
19
-24
(')
106
-12
149
45
-37
-35
-9
7
(*)
616
204
57
-95
— 16
(*)
421
53
18
(3)
(3)
(3)
(3) (3) (3) (3)
-31 -404 -100 -83 -131 -90 -285
4 -1 -1 -4
-8 — 2
8
13
4
3
426
68
45
-85 -24 -20 -22 -19 -36
-22
i
14
6
494
69
38
9 -165
-56
31
-5
4
474
57
23
4 2,712
5
1
-8
16
1,815
247
124
-88 -40
30
62
7
28
10
-4
11
16
1
—7
55
36
-6 -15
8 -41 -15
2
22
44 -12
30
62
7
28
147 -65 -51 179 -19 -174 -127 -83
26
49 -17
53
45
3 -9
(*)
480 320
41 121 (*)
-1 482 320
534
353
209
216 -145
41
132 -160
146
173
489
c
Q
(3)
(3)
( )
-64 -84 -49
-1 -1 -1
3
-98 -74 -94 -59
-122 -30 -20 -41 -31
9 («)
21
75
14
21 36
19
-36 -6
16 — 12 -34 -39 -8
3 -12 -10 —11
1
— 7 -6
4
-9
47
325
-4 -176
for "all areas": 1-520; 11-627; III-711; IV-117; year-1,975
Source: U. S. Department of Commerce, Office of Business Economics.
o
11 («)
21
13
16
-32
^^
1 («)
53
-1
-8
47 -15
24
11
16
2
22
10
-4
155 -11 -188
4 -4
-8
40
120 («)
192
140 -168
-70
86
154
SURVEY OF CURRENT BUSINESS
24
sitated increased purchases of foodstuffs from the United
States.
Military purchases Jill commercial gap
The accompanying chart has been designed to bring out the
basic changes
in the United States balance of payments since
the war.2 It shows the extent to which foreign countries
could meet their expenditures in the United States through
dollar receipts from commercial transactions and the extent
to which they depended upon military expenditures or grants
and loans by the United States Government. The difference
between total foreign dollar receipts and expenditures indicates the change in foreign gold and dollar assets which had
to be used to supplement foreign dollar receipts from 1946 to
1949 and could be accumulated by foreign countries since
then.
The excess of foreign dollar receipts over expenditures and
the consequent rise in foreign gold and dollar holdings since
1950 was facilitated by Government transactions, i. e., military expenditures as well as grants and loans. Government
expenditures, even omitting those for military end items
delivered under aid programs, amounted to about $4.6
billion during the year 1953, more than in any year since 1949.
The importance of the United States Government as a
source of foreign dollar receipts raises the question of the
extent to which the rise in foreign reserves indicates the
restoration of the capacity of foreign economies to meet their
demand for foreign exchange through exports and through
their ability to attract external credit. Although there can
be little doubt of the fundamental improvement in Europe
and other countries, some additional guidance in answering
that question may be provided by an analysis of the balance
of payments.
Military aid in the form of military end items is necessitated by special circumstances and the rising need for such
aid by foreign countries may not be considered entirely an
indication of corresponding changes in their basic economic
situation.
Other grants and loans are usually considered to meet the
civilian needs of the foreign economies. The distinction
between aid in the form of military end items and other
grants and loans is, however, not so sharp as the figures suggest because some grants were given to purchase equipment
or raw materials needed in the production of military goods
or to provide the revenue to meet military expenditures. In
any case, Government grants and loans result in a net in2. Government grants and loans for the years 1946-48 exclude the capital subscription to
the International Bank and the International Monetary Fund but include net dollar disbursements by these agencies. For all other years these international institutions are treated as
foreign entities as in table 1.
March li).j-l
crease of the resources available to foreign countries. The
chart indicates, however, that with the exception of military
end items, foreign countries as a whole have been able since
the third quarter of 1952 to meet their requirements from
their own resources and to add the dollar equivalent of these
grants and loans to their reserves.
Military expenditures, in principle, do not provide a net
addition to the real resources of foreign countries but represent a purchase of goods and services produced there. Although military expenditures are, therefore, similar to, and1
part of, other purchases of goods and services, in some
instances the borderline with grants is rather fluid. This i;
the case particularly wliere military equipment is purchased
and transferred back to the same country as military aid, or
other expenditures are incurred abroad for the partial benefit
of foreign countries. (Offshore procurement for re transfer to
other countries is treated in the balance of payments as two
transactions. The first represents a United States purchase
resulting in a rise in foreign dollar balances; the second
consists of an "export" of these goods to foreign countries
matched by an equal amount in Government unilateral
transfers.) The chart indicates that most of the dollars
derived by foreign countries from these expenditures were
needed to pay for foreign purchases here.
A decline in United States military expenditures, however,
would not necessarily exert a corresponding pressure upon
foreign countries to tighten again the restrictions on their
purchases here, or to draw upon their reserves. The reduction in United States military expenditures abroad, anel even
more so a reduction of military expenditures by foreign
countries themselves, would set free economic resources
which could be useel to meet a larger portion of the aggregate
foreign demand, thus displacing purchases from the United
States, or to increase sales in this country. The necessary
changes in productive facilities would require new investments, however, and some time may elapse before the
adjustments could be completed.
But regardless of this, military expenditures are likely to
rise in the near future. Total offshore procurement contracts
amounted to about $2.2 billion by the end of 1953. Total
payments against these contracts at the same time were
about $375 million, including $300 million during the last
year. Deliveries are expected to rise rapidly during the
current year, and the corresponding payments will provide
an even stronger support to the foreign dollar position than
last year. While this increased support will accrue mainly
to Western Europe, and would directly benefit those countries, it may also have indirect beneficial effects upon other
countries which might be influenced by a decline in commercial import demand in the United States.
REVISED SERIES—Tin, Pig: Revised Data for Page S-33 *
[Long tons]
Consumption
Year and month
1951
January
February
March
April
Mav
June
July
August
September
October
November
December
Monthly average
Production
3,571
3,429
3,499
3 402
3, 433
3, 007
2,707
2,772
2,425
2,327
2,070
1,982
3 2, 935
Total
9, 175
7, 380
7,879
7, 511
7,641
7,254
6, 695
7, 050
6,718
7,087
6,708
6,262
s 7, 347
Primary
5, 964
4, 633
4,821
4,578
4, 675
4, 520
4, 339
4,845
4, 574
4, 649
4,266
4, 114
3 4, 740
Stocks, end of month
Total
38, 797
37, 986
37, 284
35, 384
34, 319
32, 098
30, 623
27, 893
25, 412
22, 937
20, 373
18, 190
30, 108
1. Compiled by the U. S. Department of Interior, Bureau of Mines.
2. Government stocks represent those available for industrial use.
Government 2
Industrial
17,511
17, 498
18, 151
17,753
18, 793
18, 105
17,612
15, 500
13, 567
11,292
8,308
6,753
15,070
21, 286
20, 488
19, 133
17, 631
15, 526
13, 993
13,011
12, 393
11,845
11,645
12, 065
11,437
15, 038
Consumption
Year and month
1952
January -Februarv
March
\pril
May
June
July. \ugust
September
October
November
December _
_
Monthly average
Production
2. 010
2,021
2,049
2.021
1, 981
* 195
* 169
< 289
2, 686
3,612
4,210
4,027
3 2, 122
Stocks, end of month
|
Primary
Total
7,215
6, 854
6, 633
6, 263
5, 904
3,410
3, 647
6.347
6, 399
7, 261
6, 636
6. 965
3 6. 535
!
|
1
;
4.620
4,316
4,073
3,694
3,564
1, 396
1, 719
4,198
4,200
4,709
4,311
4,499
3, 777
Total
14. 741
13, 285
18, 258
26, 168
33, 024
26, 330
31. 444
25, 353
25, 314
24, 840
24, 321
25, 993
24. 089
!
1
Govern- i Indusment - j trial
4,525
3,617
9,004
14,858
22,741
15,904
21,128
16,511
15, 534
14, 266
13.659
13,265
13.751
3. Monthly average based on annual total. Annual data include adjustments not available by months.
4. Production by detinners only.
!
!
1
I
!
i
!
!
i
i
i
'
10,216
9, 668
9. 254
11,310
10,283
10.426
10,316
8.842
9. 780
10, 574
10,662
12,728
10.338
BUSINESS STATISTICS
-I HE STATISTICS here are a continuation of the data published in BUSINESS STATISTICS, the 1953 Statistical Supplement to the SURVEY
OF CURRENT BUSINESS. That volume (price $1.50) contains monthly data for the years 1949 to 1952, 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 1949. Series
added or revised since publication of the 1953 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 and dollar values refer to adjustment of monthly figures for seasonal variation.
Data from private sources are
Statistics originating in Government agencies are not copyrighted and may be reprinted freely,
provided through the courtesy of the compilers, and are subject to their copyrights.
Unless otherwise stated, statistics through
1952 and descriptive notes are shown in the
1953 Statistical Supplement to the Survey
1954
1953
January
F
^™'
March
April
May
June
July
August
e
m
f5er ~
October
Novom-
Doe™,-
January
GENERAL BUSINESS INDICATORS
N A T I O N A L INCOME AND PRODUCT
Seasonally adjusted quarterly totals at annual rates:
National income, total
. ._ . b i l . o f d o l Compensation of employees, total
do
Wages and salaries total
do
Private
do
Military- _ _ _
_ do
Government civilian
do
Supplements to wages and salaries
do
Proprietors' and rental income, total a* do
Business and professional cf
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
306. 7
204 5
194.5
161 3
10.4
22.8
10.0
50.8
27.0
13 4
10.4
310.7
208.0
198 0
164.5
10.6
22.9
10 0
49 7
27 0
12.3
10 4
308. 1
210.4
200. 6
166 9
10.5
23.1
9.8
49 1
26.9
11 6
10.6
207.7
198.0
164.4
10.3
23.3
9.8
50.0
26.9
12.2
10.8
43 8
44.6
24.4
20. 3
-.8
7.6
45 2
45.9
25 0
20.8
7.7
40 7
43. 3
23 6
19 6
-2.6
79
1.0
8. 1
Gross national product, total
do
Personal consumption expenditures total do
Durable goods.,
__
do_ _ _
Nondurable goods- _ ._
do __
Services
do
Gross private domestic investment, total
bil of dol
New construction _
do
Producers' durable equipment
_ . do
Change in business inventories
do
N e t foreign investment _ _
_ _ _ _ _ _
do
Government purchases of goods and services,
total
bil of dol
Federal (less Government sales)
do
National security?-- ._ - do_ _ _
State and local __ _ __ __
do
363. 9
227 7
30.2
121.2
76 3
371 4
230.4
30.7
122. 1
77 6
369 5
231 0
30.4
121. 3
79 2
363 5
230. 0
29. 1
120 4
80 5
54 9
25 0
26.2
3 7
-2.1
58
25
26
6
—2
5
3
9
3
5
55 2
24.9
27.1
31
-2.1
48
25
26
—3
—1
83 4
58.5
51.6
24.9
85.0
60.5
53.5
24.6
85 5
60 4
52.1
25 2
85 7
59.5
50 0
26 3
Personal income, total
Less: Personal tax and nontax payments
"Equals: Disposable personal income
Personal saving§-_
281 6
36.2
245 4
17.7
284.4
36.7
247.7
17.2
286 8
37 0
249.8
18.8
285 9
36 6
249 3
19.3
do
do
do
.do
a
8
3
5
o
0
PERSONAL INCOME, BY SOURCE
Seasonally adjusted, at annual rates:
Total personal income
bil of dol
Wage and salary disbursements, total
do
Commodity-producing industries
do
Distributive industries
do
Service industries
do _
Government _ _ .
_.
do
Wage and salary receipts, total
do
Other labor income
do
Proprietors' and rental income- -_ _ _ do
Personal interest income and dividends- -do
Transfer payments
_
do
Less personal contributions for social insurance
bil.of doL.
Total nonagricultural income
do
280.5
192.8
86.8
50.2
22.7
33.1
188.8
5.1
51.6
21.6
13.5
281.0
194.6
88.0
50.6
22.8
33.2
190.9
5.1
50.2
21.7
13.3
283. 6
196.2
88.8
50.9
23.2
33.3
192.4
5.1
50.7
21.9
13.7
282.7
196.6
88.8
51.0
23.4
33.4
192.8
5.1
49.4
22.0
13.6
284.7
198.0
89.3
51.7
23.5
33.5
194.2
5.1
50.0
22.1
13.5
286.3
199. 5
89.8
52.2
23.9
33.6
195.6
5.1
50.1
22.3
13.5
287.5
201.2
90.6
52.9
24.2
33.5
197.3
5.1
49.5
22.4
13.5
287.0
201.0
90.2
52.9
24.1
33.8
197.1
5.1
48.9
22.5
13.6
286.3
199.9
89.3
52.7
24.1
33.8
196.0
5.1
49.0
22.7
13.6
287.2
199.3
88.7
52.7
24.2
33.7
195.6
5.1
49.5
22.8
14.5
285. 9
198.3
87.7
52.9
24.1
33.6
194.5
5.1
50.0
22.7
13.8
' 284. 6
' 190. 3
' 86. 4
r 52. 2
r
24.2
33.5
192. 5
5.1
'50.3
T
22 7
14^3
282.5
194.9
85.2
52.2
24 0
33.5
190.5
5.1
50.0
22.8
14.5
4.1
3.9
4.0
4.0
4.0
4.2
4.2
4.1
4.0
4.0
4.0
'4. 1
4.8
261.1
263.3
265. 4
265. 5
267.2
268.8
270.6
270.7
270.0
270.5
269.0
267. 2
265. 2
NEW PLANT AND EQUIPMENT
EXPENDITURES
r
T 7 55f,
All industries, quarterly total]:
mil. of doL.
* 6, 339
' 7, 289
7, 098
r
2,747
Manufacturing _ _
„__ ___do _ ,
r 3 392
' 3, 192
2, 945
Mining
do _ _ _
'r 225
••234
' 265
'288
Railroads
__ _
_.do
313
* 300
••359
r
r 376
Transportation, other than rail
do
337
'366
386
r
T
Public utilities
__ __ _do
r \ 946
1,158 !
'925
1.219 i
r
Commercial and other
...do
' 1. 792
T 9 092
1.984 i
' 1.979
r
Revised.
^Includes inventory valuation adjustment.
$Government sales are not deducted.
§Personal saving is excess of disposable income over personal consumption expenditures shown
as a component of gross national product above.
{Revisions for 1952 and estimates for the first 2 quarters of 1954 (based on anticipated capital expenditures of business) appear on p. 10 of this SURVEY.
r
-54
4
S-l
SURVEY OF CURRENT BUSINESS
S-2
Unless otherwise stated, statistics through
1952 and descriptive notes are shown in the
1953 Statistical Supplement to the Survey
March 1!>5-1
1953
January
February
March
April
May
|
June
1954
July
August
September
October
November
December
January
GENERAL BUSINESS INDICATORS—Continued
FARM INCOME AND MARKETINGS*
Cash receipts from farming, including Government
payments, total
mil. ofdol _
Farm 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
_ . 1935-39 =100__
Crops
do
Livestock and products
do
Indexes of volume of farm marketings, unadjusted:
All commodities
1935-39 =100. _
Crops
--- - do
Livestock and products
do _
'
'
'
'
2, 803
2, 778
1, 344
1, 434
'1,918
' 1, 902
' 643
' 1, 259
' 2, 119
' 2, 094
'677
' 1,417
' 2, 020
' 1, 983
'572
' 1,411
'807
'276
••680
••256
357
742
365
721
'305
••306
'419
'475
••377
'287
'316
'239
'373
'299
'202
'371
'181
'385
'126
' 124
337
'166
'181
'156
311
r227
'331
118
'90
'138
'76
'85
157
' 160
' 2, 009
' 1, 975
'513
' 1, 462
768
336
812
' 3, 443
'3 439
' 1, 865
' 1, 574
'330
'355
'366
'370
' 375
'367
'477
'607
'381
'557
'767
'519
'659
414
449
548
375
"397
P 430
P 372
'156
' 154
' 158
' 192
' 231
'226
'289
179
'203
'227
'186
178
198
162
P 160
p 167
T> 154
' 2, 404
' 2 390
'996
' 1, 394
' 318
'295
'302
' 320
298
'321
'243
'361
'352
'367
'153
'148
'157
407
708
' 124
' 71
164
402
714
379
'137
'94
169
386
682
'
'
'
'
2, 461
2 453
1, 060
1, 393
364
695
'
'
'
'
3. 169
3 164
1, 718
1. 446
'334
164
'
'
'
'
' 2, 986
' 2 974
' 1, 550
1,424
3, 700
3, 693
2, 169
1, 524
' 2, 156
' 2, 130
'690
' 1, 440
401
334
858
336
739
331
p
P
P
v
2 649
2 631
1 218
1,413
*»330
P 790
P 272
INDUSTRIAL PRODUCTION
Federal Peserve Index of Physical Volume]
Unadjusted, combined indexf
1947-49=100-.
Manufactures
do
Durable manufactures
do
Primary metals _
_ _
do
Steel
do
Primary non ferrous metals
_ ..do
Metal fabricating (incl. ordnance)
do
Fabricated metal products
_ __~do
Machinerv
do
Nonelectrical machinery
_ do
Electrical machinerv
do
132
136
138
136
136
136
129
136
135
136
130
' 124
p 124
135
154
137
146
131
139
158
142
146
143
139
159
141
146
147
138
157
142
148
143
138
155
138
143
144
130
147
124
137
143
137
153
130
138
141
136
151
127
134
147
138
154
129
136
147
132
146
122
129
146
' 125
' 140
' 110
P
P
p
P
169
134
172
136
140
160
143
150
146
175
138
173
139
170
139
168
139
161
135
166
140
164
137
167
'137
167
147
207
170
149
210
172
154
206
167
150
199
Transportation equipment
do
Autos _
_ _ _ _ _ _
do
Trucks
do
Aircraft a n d parts _ _ _ _ _ _ _ .do. _ _
Instruments and related products
do
Furniture and
fixtures
_
do__ _
Lumber and products
do
Stone, clay, and glass products. _
_do___
Glass and pottery products
do
Miscellaneous manufactures
do
189
132
119
455
153
121
110
125
120
132
195
151
121
461
153
122
119
129
125
136
199
161
144
461
157
123
122
132
128
140
Nondurable manufactures
do_ __
Food and beverage manufactures
do
Food manufactures.
_ do
Meat products
do
Bakery products
.
do
Beverages
do
Alcoholic beverases
_ _ _
do
Tobacco manufactures _ _
do
Textile-mill products
do
Cotton and synthetic fabrics
do
115
98
102
134
98
84
82
104
104
106
119
97
99
118
99
91
88
117
112
114
do
_ do___.
do
do _
do
_ _ do
do
do
do ___
_do
113
104
125
127
116
144
149
129
136
132
do
do
do . _
do _ _
do
Apparel and allied products
Leather and products
.
Paper and allied products.
Pulp and paper.
Printing and publishing.
Chemicals and allied products
Industrial chemicals.
Petroleum and coal products
Petroleum refining..
Rubber products
Minerals
Coal
Crude oil and natural gas_
Metal mining
_
_
Stone and earth minerals
_
Adjusted, combined indexf
Manufactures
Durable manufactures
Primary metals
_ _
Metal fabricating (incl. ordnance)
Fabricated metal products
Machinerv
Nonelectrical machinerv
Electrical machinery
Transportation equipment
Instruments and related products
Furniture and
fixtures
Lumber and products
Stone, clay, and glass products
Miscellaneous manufactures
Nondurable manufactures .
Food and beverage manufactures
Tobacco manufactures
Textile-mill products
Apparel and allied products
_ _
Leather and products. _ _
__ do. _
do
do
do
do
do
do
do _ _
do
163
148
192
159
146
184
198
170
142
452
155
121
126
134
126
140
194
162
124
452
156
118
122
135
125
139
121
99
99
117
100
99
100
113
113
117
118
99
98
111
98
105
102
104
109
111
123
112
133
131
118
147
150
128
134
140
120
110
136
132
123
149
154
127
132
143
113
81
134
80
110
113
77
134
85
112
134
136
154
135
168
135
164
144
203
do
do
do._ _
do
do
do
191
do
do _ .
do
do
do
__.do__ _
117
106
106
103
112
104
153
120
122
129
135
114
' 146
r
155
' 128
149
137
P155
P 122
P 146
p 133
P 172
148
138
168
157
137
197
158
137
200
193
166
106
452
157
117
122
136
123
140
190
161
118
461
151
113
112
132
113
133
189
153
127
473
153
116
122
137
123
143
182
134
115
480
155
115
119
102
101
103
100
110
102
107
112
115
121
108
105
105
103
119
107
110
111
114
113
112
110
98
102
121
107
94
93
95
121
118
118
102
101
118
108
117
107
110
122
124
127
111
102
113
108
111
102
105
'122
'120
'121
107
104
136
134
123
150
159
127
131
140
110
102
132
131
122
148
159
129
132
137
117
97
134
133
120
146
161
131
136
131
102
91
120
117
114
141
157
132
137
114
115
103
135
133
116
143
157
135
138
122
106
94
135
130
122
145
151
133
136
122
' 107
' 126
151
151
131
135
127
' 150
149
131
137
120
'137
' 111
111
74
132
88
116
115
74
133
119
123
118
81
131
139
125
120
81
134
142
130
117
69
135
138
130
122
85
135
140
133
122
84
136
139
131
118
84
131
122
132
' 113
' 111
' 131
' 133
' 75
P 111
p 74
v 135
p 72
134
135
136
137
136
137
136
133
132
129
'126
P 125
136
155
137
137
155
136
138
155
136
139
156
139
138
154
137
139
157
136
138
157
137
'134
152
130
134
151
128
131
146
122
168
136
168
137
169
138
169
139
168
139
171
142
171
140
159
' 130
' 127
' 142
' 113
'156
' 128
' 146
164
147
195
162
146
194
190
190
155
121
153
124
163
145
200
163
147
195
191
153
119
119
107
116
108
112
103
121
108
108
109
116
104
123
109
107
113
117
108
121
106
103
111
115
99
'481
'456
470
157
' 114
' 112
' 99
' 128
156
116
' 121
'123
136
122
144
'128
139
148
123
' 101
116
118
116
100
101
97
140
138
157
114
134
122
145
118
111
'114
135
99
99
100
111
96
102
100
'89
135
133
126
76
95
' 125
107
115
p 183
P 135
P 120
P
P
v
p
149
106
104
122
' 138
P 130
' 110
' 98
' 102
' 125
' 97
P in
p 95
84
80
'92
'87
'90
p 126
p 95
P 105
p °)1
99
'88
119
117
P 102
p 91
P 125
' 122
' 146
P 117
P 146
146
128
71
123
p 127
P 117
' 184
' 172
P 126
P 140
p 110
P155
P 124
P 143
P 131
p 168
189
178
' 154
113
155
110
' 179
155
108
' 108
' 129
' 138
p 184
pl49
P 105
p 115
p 126
f 132
' 113
' 103
' 112
P112
v 104
p 107
p 90
p 100
196
191
186
156
121
156
119
155
114
119
135
143
116
135
146
111
134
140
121
108
103
108
114
104
119
108
104
104
109
97
117
109
104
100
104
91
157
122
118
107
120
106
110
104
' 98
159
141
193
188
114
134
145
' 174
107
95
166
134
156
123
119
135
143
'173
161
141
200
192
120
134
141
' 172
189
151
106
166
135
164
145
200
121
135
138
135
192
165
145
203
161
144
194
124
133
135
161
138
205
158
' 130
' 154
125
140
112
115
114
133
153
137
111
' 132
' 140
138
117
' 115
'108
106
98
'107
93
108
108
95
101
'91
133
'90
102
'93
P91
' Revised.
» Preliminary.
^Revised beginning 1951 to incorporate more complete data; revisions for January 1951-October 1952 are available upon request.
{Revised series. The index has been improved in this revision by (1) incorporation of a number of new series; (2) revision of weights, seasonal adjustment factors, and working-day allowances; (3) adoption of a more recent comparison base period; (4) use of improved industrial classifications, and (5) development of an independent set of annual indexes from the more comprehensive data available at yearly intervals. For a detailed description of the revision and monthly and annual data beginning 1947, see the December 1953 issue of the FEDERAL RESERVE
BULLETIN.
SURVEY OF CURRENT BUSINESS
March 1954
Unless otherwise stated, statistics through
1952 and descriptive notes are shown in the
1953 Statistical Supplement to the Survey
S-3
1953
January]
Fe
^u-
March
April
May
June
1954
July
August
September
October
November
December
January
125
120
145
128
r
116
P125
P 120
v 144
v 126
v 115
r H3
p 114
P 70
*> 135
P 100
GENERAL BUSINESS INDICATORS— Continued
INDUSTRIAL PRODUCTION—Continued
Feder al Reserve Index oj Physical Volume 9 — Con.
A dj usted— Continued
Manufactures — Continued
Nondurable manufactures— Continued
Paper and allied products
194749=100
Printing and publishing
do
Chemicals and allied products
. do
Petroleum and coal products
do
Rubber products
_ _ -..
do _ _ _
M inerals
Coal
..
Crude oil and natural gas
Metal mining
Stone and earth minerals- __
do
do
do
_
do
do
125
119
142
128
131
130
119
143
128
134
133
120
145
128
138
134
120
148
131
137
134
121
151
131
139
134
121
150
131
130
134
121
152
132
130
133
121
148
132
127
135
121
147
131
121
132
123
146
129
120
132
121
'145
129
118
116
77
134
111
121
116
77
134
113
123
115
74
132
116
126
115
75
133
118
124
117
85
131
118
122
119
86
134
117
125
120
87
135
116
125
119
86
135
117
124
118
81
136
117
123
114
76
131
108
'124
' 112
70
'131
'103
'124
47, 819
24, 507
12, 508
48 533
24, 724
12 666
9,172
3,011
6,161
14, 140
50 186
26, 358
13, 398
12, 960
9, 295
3, 161
6, 134
14, 514
49 671
25, 763
13 116
12 647
9 471
3, 164
6 307
14, 437
5 211
9 225
49 395
25, 816
13 148
12, 668
9 155
3,103
6 052
14, 424
5 154
9 270
50 003
25' 882
13 166
12, 716
9 709
3, 160
6 549
14, 412
5 103
9 309
50 398
26' 366
13 410
12 956
9 563
3,153
6 410
14 469
5 102
9 367
48 138
25. 067
12 730
12, 337
8 998
48 652
25 379
12 698
12, 681
9 291
3 051
6 240
13, 982
4 865
9 117
48
25
12
12
9
2
6
14
5
9
284
010
376
634
234
982
252
040
029
Oil
'47 518
' 24, 256
11 867
r
12, 389
9 158
78 996
45, 164
25, 328
19, 836
11, 445
5 951
79 678
45 673
25, 681
19 992
116
485
392
093
888
223
665
743
730
013
81 586
46 888
26, 788
20 100
11, 923
6 259
5 664
22 775
10 624
12 151
82
47
26
20
11
6
5
22
10
12
000
087
958
129
989
245
744
924
921
003
81 805
47 044
26, 987
20 057
12, 041
6 278
22 387
10, 543
11 844
81
46
26
20
11
6
5
22
10
12
T gi 276
r 46 909
26. 975
r
19 934
5 999
5, 551
22 455
10, 526
11 929
80 167
46 160
26, 048
20 112
11 713
6 007
5 706
22 294
10 472
11 822
22 720
10, 727
11 993
22 437
10 574
11 863
r
r
r
r
69
133
101
128
BUSINESS SALES AND INVENTORIES§
M a n u f a c t u r i n g a n d t r a d e s a l e s (adjusted) totalf
mil of dol
Manufacturing, total t do_. .
Durable-goods industries
do
Nondurable-goods industries
do
Wholesale trade, total t
do
Durable-goods establishmentsdo
Nondurable-goods establishments
do
Retail trade, totaL . __
do
Durable-goods stores
do
Nondurable-goods stores
do
Manufacturing
and trade inventories, book value, end
of month (adjusted) totalt
mil of dol
Manufacturing, total f
do
Durable-goods industries, _
- do
Nondurable-goods industries
_
do
Wholesale trade, totalf .. ._
do
Durable-goods establishments
do
Nondurable-goods establishments
do
Retail trade, total t
do
Durable-goods stores
do
Nondurable-goods stores
do
MANUFACTURERS' SALES, INVENTORIES,
AND ORDERS
Sales :t
Value (unadjusted), total mil. of dol
Durable-goods industries
do
Nondurable-goods industries
do
11,999
5,000
12,058
5,304
9,548
3,204
6,344
14, 280
5,124
9 156
3,092
5 906
14,073
4 914
q 159
342
705
441
264
963
882
081
674
492
182
r 81 070
r
5 898
' 5 789
22 661
10 668
11 993
80
46
26
19
11
5
5
22
10
11
741
412
535
877
757
869
888
572
718
854
' 23 792
11 499
r
12, 293
23 929
11 615
2? 857
10 743
' 24 256
24 126
11, 576
1 645
23 705
2,994
6,164
14, 104
5 005
9 099
9 211
77, 130
44, 330
24, 565
19, 765
11, 282
77 693
44 581
24, 760
19, 821
11, 405
5 890
5, 515
21 707
10, 149
78 266
44 797
25, 019
19 778
24. 065
12 344
26 758
13 812
12, 946
26 296
13 703
12, 593
25 468
13 178
12, 290
26 058
13 586
12, 472
24 700
12 317
12, 383
25 276
12 484
12, 792
26 163
12 917
13, 246
26 845
13 223
26 358
13, 398
25, 816
13, 148
2,211
1 257
1,' 437
2 156
25 882
25, 067
12, 730
2, 154
1 190
1,438
2 099
2,210
1 031
380
776
582
326
544
25 379
12, 698
2 084
1 219
1 536
2 163
25 010
12, 376
1,985
1 139
1,391
2 039
998
369
772
586
404
608
2 222
1 311
1,486
2 164
2, 190
1 006
365
767
627
395
633
26 366
13. 410
2 335
1 309
1 462
2 125
2 381
1 032
334
815
611
416
590
1 008
370
726
607
355
607
1 140
364
715
575
353
580
12,337
12 681
3 836
662
315
1, 031
854
266
752
707
1,640
r
416
12 634
3 890
666
304
1,038
900
243
738
745
1,643
2, 062
394
46, 646
26, 612
20, 034
46, 529
26, 598
19, 931
' 46, 532 ' 46, 947
26, 549 ' 26, 697
' 19, 983 ' 20, 250
5,766
5, 516
21, 518
9,897
11,621
24, 006
12 020
11,986
11,558
11,721
11,488
5 976
5, 512
21 981
10, 303
11 678
5,494
11,550
24. 507
12, 508
2,169
1 190
1,337
2, 138
2,162
996
370
710
535
377
524
24, 724
12, 666
2,214
1,228
1,362
2, 158
2,178
964
344
744
558
337
579
25. 763
1 256
1,389
2 174
2 356
939
363
767
632
379
635
1 351
1,387
2 227
2,431
997
367
763
585
392
623
Nondurable-goods industries, total.- __ do . .
Food and kindred products
do
Beverages-.. - __
__
do_ _
Tobacco manufactures
do
Textile-mill products- do_ __
Apparel and related products
do
Leather and leather products . .
do
Paper and allied products _
do
Printing and publishing
do
Chemicals and allied products
do
Petroleum and coal products _ _
do. _
Rubber products
_
do
11,999
3,377
12, 058
555
324
1,128
846
266
690
770
1,634
12 647
3 660
595
330
1,160
871
278
711
800
1,704
12, 668
3 631
565
305
1,283
943
256
724
819
1,672
12, 716
3 594
551
310
1,181
843
286
741
809
1,697
12 956
3 796
570
301
1, 181
869
328
766
740
1,720
435
473
12 960
3 826
563
318
1,231
912
281
739
794
1,734
2,118
444
422
436
448
3 645
617
314
1,098
891
264
735
676
1,608
2,081
409
45, 158
25, 298
19, 860
45, 362
25, 608
19, 754
45, 884
26, 093
19, 791
46, 436
26, 463
19, 973
46, 489
26, 564
19, 925
do
do
do
46
23
11
12
8
2
6
13
4
9
9,140
Value (adjusted), total _
do
Durable-goods industries, total
do
Primary metal _ _ _ _ .
do. _
Fabricated metal products
do
Electrical machinery and equipment- do
Machinerv, except electrical
do
Motor vehicles and equipment
do
Transportation equipment, n. e. s
do
Furniture and fixtures _ - .
do
Lumber products, except furniture
do
Stone, clay, and glass products
do
Professional and scientific instruments -do
Other industries, including ordnance- do
Inventories, end of month :f
Book value (unadjusted), total
Durable-goods industries
Nondurable-goods industries
By stages of fabrication:
Purchased materials Goods in process __ .
Finished goods
r 47 235
' 24 126
r 11 576
r
12 550
r 9 177
3 035
'6 142
f 13 932
' 4 626
r 9 306
544
312
1,116
880
269
695
758
1,606
2,018
424
44, 691
24, 600
20, 091
3,368
2,042
44, 858
24, 847
20,011
13,116
2,226
2,065
2,275
2,350
2,048
13,166
2,268
46, 334
26, 339
19, 995
2,237
2,023
2,202
11.930
r 11 687
6 127
5,763
13,622
f 46' 722
r 26 752
r 19 970
5,803
11,867
1 874
1 150
1 324
2 068
1 918
925
334
723
583
402
566
2,095
12 389
3 771
635
339
1 006
835
251
709
778
1, 606
2 113
r 345
r
r
r
12,314
r 1 076
r
l'349
r i 902
' 2 046
r 947
••345
'731
'540
'423
r
572
r 12 550
r 3 863
r
572
r 304
r
1 040
T 873
r
267
r 7()1
r 774
1, 601
' 2 186
T
r 369
12,114
11,441
1 597
1 15'-?
1 317
1 966
2 029
885
364
770
512
330
518
12 264
3 824
651
291
1 009
896
261
686
722
1,532
2 023
369
46, 807
26, 610
20,197
_ do
do.
do ..
Book value (adjusted), total
do
44, 330
45, 164
44, 581
45, 673
46, 160
44, 797
46, 888
47, 087
46, 485
47, 044
' 46, 909 r 46, 722
46,412
Durable-goods industries, total
do
24, 565
24, 760
25, 328
25, 681
25, 019
26 392
26, 048
26. 958
26, 788
26 987
26 975 r 26 752
26 535
r 3 425
Primary metal
do
3, 134
3 242
3 208
3 157
3 308
3 318
3 382
3 456
3 513
3 507
3 488
3 38'i
r 3 131
Fabricated metal products-do
2, 512
2,473
2 717
2,484
2 914
2,580
2,607
2 962
2 815
3 038
3 145
3 006
r
3,121
Electrical machinery and equipment. _ _ do
3,081
3,157
3,219
3,266
3,305
3,425
3,424
3,366
3,484
3, 489
3, 440
3,339
Machinery, except electrical
do
5, 532
5,525
5,524
5,468
5, 508
5,555
5,667
5,690
5,628
5,665
5,735
'5,647
5, 549
3 445
Motor vehicles and equipment
do
3,009
r 3 396
3,056
3, 170
3,229
3 420
3,348
3,476
3 435
3, 498
3 377
3 523
2,642
Transportation equipment, n. e. s
do
2,567
2, 616
2.632
2, 651
2,728
2,707
2, 751
2,702
2,720
' 2, 769
2,700
2, 760
Furniture and
fixtures
do
656
662
641
638
660
681
697
681
679
674
' 642
670
638
1,041
989
Lumber products, except furniture
do
1,017
1,045
1,031
1,049
1,096
1,123
1,068
1,121
1,090
1, 028
' 1, 033
854
Stone, clay, and glass products-- _ do
874
858
867
881
906
883
879
884
875
901
890
878
837
846
851
857
850
Professional and scientific instruments -do
853
875
866
878
'882
881
882
939
1,429
1.487
1,417
Other industries, including ordnance.- do
1,538
1.539
1,501
1.583
1.564
1.521
1.464
1.581
' 1. 497
1.549
' Revised.
*> Preliminary.
9 See note marked "t" on p. S-2.
§The term "business" here includes only manufacturing and trade. Business inventories as shown on p. S-l cover data for all types of producers, both farm and nonfarm. Unadjusted
data for manufacturing are shown on this page; those for retail and wholesale trade, on pp. S-8, S-9, and S-10.
t Revised series. Data have been adjusted to more recent benchmarks; all revisions prior to 1953 are available upon request (most of the data published in the 1953 issue of BUSINESS
STATISTICS are now obsolete).
S-4
SUKVEY OF CURRENT BUSINESS
March 1954
1954
1953
Unless otherwise stated, statistics through
1952 and descriptive notes are shown in the
1953 Statistical Supplement to the Survey
January
February
March
April
May
June
July
August
September
October
20,129
3,445
1,139
1,834
2,612
1,907
574
1,038
772
3,169
2,731
908
20, 057
3,468
1,142
1,811
2,614
1,862
577
1,044
768
3,140
2,750
881
' 19, 934
3,511
1,129
1,789
2,543
1,845
570
1, 050
776
3,107
2,747
'867
November
December
January
GENERAL BUSINESS INDICATORS—Continued
MANUFACTURERS' SALES, INVENTORIES,
AND ORDERS—Continued
Inventories, end of monthf—Continued
Book value (adjusted), total—Continued
Nondurable-goods industries, total -. mil. of dol - Food and kindred products
do
Beverages
do
Tobacco manufactures
do
Textile-mill products
do
Apparel and related products
do
Leather and leather products
do
Paper and allied products
do
Printing and publishing
do
Chemicals and allied products
do
Petroleum and coal products,.
__do
Rubber products
_
do
19,765
3,662
1,259
1,816
2,584
1,772
532
1,060
730
2,900
2, 584
866
19, 821
3,627
1,252
1,806
2,612
1, 819
528
1,058
730
2,910
2,611
868
19, 778
3,570
1,247
1,798
2,616
1,806
533
1,052
748
2,931
2,597
880
19, 836
3,522
1,232
1,817
2,614
1,834
550
1,051
743
2,975
2,624
874
19,992
3,493
1,212
1,818
2,631
1,890
578
1,060
745
3,007
2,670
888
20,112
3,489
1 222
1^811
2,693
1,906
584
1,048
750
3,065
2,630
914
20, 093
3,433
1,242
1,804
2,666
1,866
568
1,030
755
3,108
2,696
925
20,100
3,411
1,186
1,839
2,646
1,876
562
1,024
773
3,142
2,744
897
Now orders, net:t
Unadjusted, total
Durable-goods industries
Nondurable-goods industries
24,851
12, 786
12,065
24,009
12, 266
11, 743
26,349
13, 404
12, 945
25, 479
12, 959
12, 520
24, 564
12,176
12,388
25,654
12,985
12, 669
23, 832
11, 588
12, 244
22, 672
10,133
12, 539
23, 235
10, 090
13,145
23,282
9,830
13,452
' 20, 955 ' r 21,448
9,347
8,930
r
12,025 ' 12, 101
Adjusted, total
do....
Durable-goods industries, total.
do
Primary metal
do—
Fabricated metal products
do
Electrical machinery and equipment._-do—
Machinery, except electrical
do
Transportation equipment, including motor
vehicles and parts
mil. of doL.
Other industries, including ordnance.-.do
Nondurable-goods industries, total
do—
Industries with unfilled orders 9
do_..
Industries without unfilled orders^
do
24, 519
12, 454
r 2, 132
1,142
1,521
1,829
24, 513
12, 416
2, 063
1,172
1,303
1,959
25, 096
12, 520
2,201
1,196
1,268
2,006
25, 682
12, 702
2, 093
1,131
1,697
2,184
25, 883
13,101
2,167
1,210
1, 480
2,042
25,152
12,392
2,390
1,012
1,303
2,084
24, 525
11, 600
1,957
1,073
1,582
1,752
22,339
10,139
1, 751
1,214
1,134
1,676
22, 661
10,110
1, 635
1,041
1,082
1,843
22,163
9,677
1,500
843
1,039
1,798
••21,594
9,631
1,666
1,089
886
1,800
3, 250
2, 5FO
12, 065
2,904
9,161
3,390
2,529
12, 097
2,894
9,203
2, 955
2,894
12, 576
2,879
9,697
2,776
2,821
12. 980
3, 064
9, 916
3, 545
2, 657
12, 782
3,196
9,586
2,875
2,728
12, 760
3, 061
9,699
2,347
2,889
12, 925
2, 983
9,942
1,882
2,482
12, 200
2, 636
9,564
2,114
2,395
12, 551
2,626
9,925
2,127
2,370
12, 486
2,617
9,869
2,084
2,106
' 11,963
2,318
' 9, 645
Unfilled orders, end of month (unadj.), totalf.do—
Durable-goods industries, total
do
Primary metal
do
Fabricated metal products
do—
Electrical machinery and equipment
do
Machinery, except electrical
do
Transportation equipment, including motor
vehicles and parts
mil. of dol_.
Other industries, including ordnance
do
Nondurable-goods industries, total 9
do—
76,178
72,928
7,536
6,386
12, 262
10, 833
76,122
72, 850
7,408
6, 276
12,108
10, 671
75, 713
72, 442
7,436
6, 235
12, 025
10, 509
74, 896
71, 698
7,230
6,218
12, 266
10,389
73, 992
70, 696
7,020
6,100
12, 251
10, 140
73, 588
70,095
6,977
5,790
12, 286
9,928
72, 720
69, 366
6,910
5,728
12, 520
9,793
70,116
67,015
6, 562
5,609
12, 204
9,512
67,188
64,188
6,103
5,517
11,718
9,118
63,626
60,796
5,640
5,052
11,279
8,785
60,789
58, 227
5, 355
4,798
10,687
8, 545
29, 766
6,145
3,250
30,110
6,277
3, 272
29, 775
6,462
3,271
29,037
6,558
3,198
28, 823
6,362
3, 296
28, 803
6,311
3,493
27, 767
6,648
3,354
26, 559
6,569
3,101
25, 658
6,074
3,000
24,338
5,702
2,830
23, 726
5,116
2,562
do
do
do
.
r
19, 970
3, 525
1,155
1,812
' 2,513
r 1,r 901
582
' r1,044
752
' 3,093
r
2. 725
'868
r
r
r
r
22, 026
9, 567
1,450
r
1.045
r 949
T
1,613
r
r
r
- 2, 289
r
2, 221
12, 459
r
2. 691
' 9, 768
r
58, 308
55,959
5, 108
r
4. 643
r
10.317
r
8. 156
r
r
r
23, 044
' 4, 691
' 2, 349
BUSINESS POPULATION
OPERATING BUSINESSES AND BUSINESS
TURNOVER
Operating businesses end of period totalf
Contract construction
Service industries
Retail trade
Wholesale trade
All other
do
do
do
-- - do
-
Contract construction
do
Service industries
Retail trade
Wholesale trade
All other
do
do
do
do
Discontinued businesses, semiannual totaif
Manufacturing
Service industries
Retail trade
Wholesale trade
All other
p 4, 212. 4
P 433. 8
P 328. 2
p 739. 8
p I , 864. 1
v 284. 8
p 561. 6
thous do
- -
" .
199 3
40.4
16 0
29.6
77.4
11.9
24 0
--
Business transfers semiannual total
.
P 165. 7
P24 3
Pl4. 7
p28. 7
p 66. 3
plO.O
*21.8
do
::::::::::
_ -_ —
do - -do
do
do-- .
do
_
do
BUSINESS INCORPORATION ScT
New incorporations (48 States)
9,468
7,943
9,659
9,507
8,968
8,926
8,703
7,487
7,433
8,267
7 269
8,915
9, 543
number
-- -do
do
- .,
do
do
do
647
39
78
130
334
66
691
49
86
132
348
76
739
63
85
154
361
76
693
48
86
140
344
75
697
66
70
143
344
74
817
74
99
145
419
80
724
43
64
164
380
73
700
49
92
148
340
71
686
31
89
145
336
85
840
75
89
188
404
84
815
66
97
175
389
88
813
64
89
193
382
85
867
60
86
192
450
79
thous. of dol
do
__do
do
do
do
23, 309
868
2,735
9,107
8,009
2, 590
27, 273
1,180
3,378
8,452
9, 139
5, 124
31, 082
1,387
3,506
12, 213
10, 423
3,553
27, 520
1,765
3,748
10, 585
8,497
2,925
32, 789
3, 536
2,511
13, 981
6,909
5,852
32, 379
1,759
3,200
11, 179
12, 464
3,777
39,830
1,210
2,789
17,139
11,282
7,410
28,529
1,077
3,868
10, 267
10, 275
3,042
33 817
1,286
4,451
13, 676
9,790
4,614
37 076
3 848
4,366
14 956
9,671
4 235
36 795
2 687
4 621
13 568
11,083
4 836
43 754
1 871
4, 154
23 731
9, 757
4 241
29 592
3 134
3, 166
11 43 1
8, 623
3 938
number _
INDUSTRIAL AND COMMERCIAL
FAILURES^
Failures total
Commercial service __ _ .
Construction
Manufacturing and mining
Retail trade
Wholesale trade
Liabilities total
Commercial service
Construction
Manufacturing and mining
Retail trade
_
Wholesale trade
.
r
Revised.
p Preliminary.
fRevised series. For manufacturers' inventories and orders, see corresponding note on p. S-3. Beginning 1953, data for operating businesses and business
turnover will be published on a semiannual basis; revised annual data for number of operating businesses (1929-52), new and discontinued businesses (1940-52), business transfers (1944-52),
semiannual data for operating businesses (second half 1944-52) by industry, and revisions for first three quarters of 1952 for all series as above (except transfers) are shown in the January 1954
SURVEY.
9 Includes textiles, leather, paper, and printing and publishing industries; unfilled orders for other nondurable-goods industries are zero.
^For these industries (food, beverages, tobacco, apparel, petroleum, chemicals, and rubber), sales are considered equal to new orders.
cf Data are from Dun & Bradstreet, Inc.
SUEVEY OF CURRENT BUSINESS
March 1954
S-5
1954
1953
Unless otherwise stated, statistics through
1952 and descriptive notes are shown in the
1953 Statistical Supplement to the Survey
January
February
March
April
May
June
July
August
September
October
November
December
January
COMMODITY PRICES
PRICES RECEIVED AND PAID BY FARMERS
268
254
245
222
419
253
220
263
291
264
249
241
214
424
256
203
275
287
264
252
247
215
424
268
209
267
291
259
246
244
213
424
267
207
233
289
263
247
242
212
426
269
206
259
286
257
246
222
204
425
267
219
298
280
260
237
218
204
426
270
193
252
268
255
232
215
205
430
278
185
207
263
257
235
219
207
452
280
204
191
251
249
229
223
194
439
275
189
198
255
249
234
229
195
433
269
205
218
263
254
238
230
205
427
260
237
224
269
259
240
233
207
420
254
222
271
268
281
303
294
218
277
305
284
206
274
301
276
217
270
299
263
219
277
317
256
218
267
300
255
213
280
319
261
223
276
305
265
229
276
299
275
230
266
273
282
234
263
267
288
224
269
285
282
218
277
309
274
213
267
268
265
264
266
261
265
269
261
264
269
257
264
270
257
260
271
248
261
271
250
262
273
249
259
270
247
258
270
246
259
270
248
260
270
250
263
271
254
284
281
282
280
280
277
279
279
277
276
277
278
282
94
94
94
92
94
93
93
91
&3
90
90
91
92
All commodities ( U . S . Department of Commerce
index)
1935-39=100--
209.0
207.8
208.2
207.9
208.2
209.7
210.1
210.1
210.3
210.0
208.9
209.1
209. 5
Consurner price index (U.S. Department of Labor) :
All items
1947-49 = 100
Apparel
--do
food
--do
Dairy products
-- --do
Fruits and vegetables
do
Mepts poultry and
fish
_ do
113.9
104.6
113.1
111.6
116.7
110.9
113.4
104.6
111. 5
110.7
115.9
107.7
113.6
104.7
111.7
110.3
115.5
107.4
113.7
104.6
111.5
109.0
115.0
106.8
114.0
104.7
112.1
107.8
115.2
109.2
114. 5
104. 6
113.7
107.5
121.7
111.3
114.7
104.4
113.8
108.3
118.2
112.0
115.0
104.3
114.1
109.1
112.7
114.1
115.2
105.3
113.8
109.6
106. 6
113.5
115.4
105.5
113.6
110.1
107.7
111.1
115.0
105.5
112.0
110.5
107.4
107.0
114.9
105. 3
112.3
110.3
109. 2
107.8
i 1 1 5. 2
104.9
113.1
109. 7
110.8
110.2
116.4
105.9
107.7
121.1
119 4
112.4
107.8
129.3
115.9
116.6
106.1
108.0
121.5
119.3
112.5
107.5
129.1
115.8
116.8
106.5
108.0
121.7
119.5
112.4
107.7
129.3
117.5
117.0
106.5
107.8
122.1
120.2
112.5
107.9
129.4
117.9
117.1
106.6
107.6
123.0
120.7
112.8
108.0
129.4
118.0
117.4
106. 4
108.0
123.3
121.1
112.6
107.8
129.4
118.2
117.8
106.4
108. 1
123.8
121.5
112.6
107.4
129.7
118.3
118.0
106.9
107.4
125.1
121.8
112.7
107.6
130.6
118.4
118.4
106.9
108.1
126.0
122.6
112. 9
107.8
130.7
118.5
118.7
107.0
108.1
126.8
122.8
113.2
108.6
130. 7
119.7
118.9
107.3
108.3
127.3
123.3
113.4
108.9
130.1
120.2
118.9
107. 2
108.1
127.6
123.6
113.6
108.9
128.9
120. 3
118.8
107.1
107.2
127.8
123.7
113.7
108.7
130.5
120.3
Prices received, all farm products§
1910-14=100..
C rops
do
Food grains
- -do
Feed grains and hay
do
Tobacco
do
Cotton
. _ _ - _ do
Fruit
do
Commercial vegetables, fresh market
do
Oil-bearing crops
do
Livestock and products
Meat animals
Dairy products
Poultry and eggs
--
_do_
do
do__ do
Prices paid:
A. 11 commodities and services
do
Family living items
do
Production items
-- - do_
All commodities and services, interest, taxes, and
wa°e ratest
1910-14=100. .
Parity ratio 9 1
-
do
RETAIL PRICES
Housing
G a '•> and electricity
Housefurnishings
Rent
.
Medical care
Personal care
Reading and recreation
Transportation
Other goods and services
do
do
do
.do
do
- do
do
- do
do
--
WHOLESALE PRICESd"
U . S . Department of Labor indexes:
All commodities
1947-49 = 100
109.9
109.6
110.0
109. 4
109.8
109.5
110.9
110.6
111.0
110.2
109.8
110.1
110.8
Firm products
do
Fruits and vegetables, fresh and dried- -do
Grains
do
Livestock and live poultry
do
99.6
107.3
94.6
92.7
97.9
102.2
93.1
91.2
99.8
105.8
94.7
91.7
97.3
106.9
93.8
87.5
97.8
105.4
93.4
91.7
95.4
109.9
84.2
86.8
97.9
94.7
85.4
95.9
96.4
98.0
86.5
88.1
98.1
96.0
88.3
90.6
95.3
94.2
87.9
82.0
93.7
94.2
89.3
78.4
'94.4
'89.8
90.6
83.9
97.9
91.2
91.3
91.8
Food^ processed
__do
Cere'al and bakery products
do
Dairy products and ice cream
do
Fruits and vegetables, canned and frozen
1947-49 = 100-Meats poultry and
fish
do
105.5
106.8
111.9
105.2
107.6
110.9
104.1
108.9
109.7
103.2
109.2
108.5
104.3
109.0
107.9
103.3
107.9
107.7
105.5
108.5
110.0
104.8
108.4
110.7
106.6
110.8
111.3
104.7
112.0
112.7
103.8
112. 6
113.9
104.3
112.2
111.3
106.2
112.4
109.4
105.4
99.3
105.5
98.2
105.1
91.2
104.4
89.2
104.0
93.8
103.7
91.6
105. 0
97.0
104.7
93.6
104.7
97.4
104.9
88.9
104.7
86.2
103.9
89.7
103. 8
96. 4
113.1
103.6
112.8
91.5
53.5
112.9
110.5
113.1
103.6
113.1
91.4
52.7
112 7
110.5
113.4
104.2
113.9
91.6
59.0
112.8
110.5
113.2
105. 5
117.0
93.0
55.9
113.2
110.5
113.6
105.5
118.0
93.1
49.9
112.9
110.8
113.9
105.6
119.2
93.1
46.6
110.6
110.8
114.8
106.2
120.2
93.6
46.7
113.8
101.7
114.9
106.3
120.2
93.5
46.9
113.8
110.7
114.7
106.7
120.0
93.5
51.1
113.0
111.0
114.6
106. 7
119.5
93. 5
53. 3
112.9
112.1
114.5
107.2
119.2
93.5
58.0
112.9
112.7
114.6
107.1
118.6
93.8
r
58.6
113.9
112.7
114.5
107.2
118.4
93. 9
60. 9
114.0
1 1 2. 8
Fuel, power, and lighting materials
do
Coal
do
Electricity
do
Gas
do
Petroleum and products
do
Furniture and other household durables
1947-49 = 100-.
Appliances, household. . _
do
Furniture, household
do
Radios
._
.. do
Television sets . . ._
do
107.8
116.3
99.6
108. 0
107.9
108.1
115. 9
100.7
109.5
107.9
108.4
114.4
100.7
109.5
109.0
107.4
111.2
98.0
109. 5
109.3
107.1
110.8
97.4
108. 2
109.4
108.3
111.2
98.5
108.2
111.1
111. 1
111.8
98.5
106.1
116.8
111.0
111.7
99.1
105.7
116.5
110.9
112.3
98.0
106. 0
116.5
111.2
112.5
98. 5
106. 6
116.6
111.2
112.5
99.6
106. 3
116.3
' 111.1
112.5
' 100. 7
' 109. 6
114.9
111.8
100. 7
109.6
114.2
112.7
107.4
113.2
95.0
74.5
112.9
107.4
113.4
95.5
75.6
113.1
107. 9
113. 6
95. 5
74.9
113.9
108.0
113.8
94.9
74.9
114.1
108.1
114. 0
94.9
74.9
114.3
108.1
114.1
95.4
75.0
114.7
108.8
113.8
95. 0
74.3
114.8
108.9
113.8
95.0
74.0
114.9
109.1
114.2
94.8
74.2
114.8
109.0
114.2
94.8
74.2
114.9
109.0
114.1
94.3
74.2
••115.0
' 109. 1
114.1
'94.3
T
74.0
1 1 5. 2
109.6
114.2
96. 1
73. 5
Hides, skins, and leather products
Footwear
Hides and skins
_ _ __
Leather
Lumber and wood products
Lumber
._
97.3
112.0
62.1
92.0
120.5
120.1
98.0
112.1
66.5
91.9
121.1
120.3
98.1
112.1
64.8
93.5
121.7
120.9
97.9
111.5
66.4
92.7
122.2
121.5
100.4
111.5
74.8
97.3
121.8
121.0
101.0
111.7
76.3
98.0
121.5
120.7
100.0
111.7
73.4
96.1
121.1
120.2
99.9
111.8
74.6
95. 0
120.4
119.3
99.7
111.8
74 2
94.5
119.2
118.3
97.1
111.7
64.4
90.4
118.1
117.2
97.1
111.8
64.3
90.4
117.3
116.3
95. 6
111.8
57. 7
'88.7
117.4
116.4
95. 2
lll.H
56. 8
88.1
117.0
116.0
Commodities other than farm products and
foods
1947-49=100
Chemicals and allied products
do
Chemicals, industrial
do
Drugs, Pharmaceuticals, cosmetics ... do
Fats and oils, inedible.
__do
Fertilizer materials
-do
Prepared paint ©
do
do
do
do
do
do
do
Machinery and motive products
do.
Agricultural machinery and equip, .do
Construction machinery and equip. .do
Electrical machinery and equipment-do
Motor vehicles
do
121. 5
121.8
126.2
119.6
119.8
no.r>
121.6
121.8
122.0
122.4
122.9
124.3
124.2
124.0
124.1
123.4
124.3
123.7
122. 2
121.8
122.3
122.4
122.5
122.5
122.4
122. 3
122.7
122.3
122.6
122.7
126.3
127 A
128.6
131.1
130.9
129.1
130. 8
131.1
129.4
131.0
130.5
131.2
119.9
121.3
126. 6
119.7
122.6
126.8
' 126. 8
126.2
126. 5
124.8
124.2
125.6
119.9
120.0
118.9
118.5
' 118.5
118.5
118.6
118.5
118.6
118.6
118.6
118.6
r
Revised.
* Index on base previously used (1935-39=100) is 192.6.
§ Revised beginning 1910 to incorporate revisions in the component price series and to reflect changes in the basic weights (data prior to December 1952'will be shown later). February 1954
indexes: All farm products, 258, crops, 237; food grains, 236; feed grains and hay, 208; tobacco, 443, cotton, 258; fruit, 210; commercial vegetables, 233; oil-bearing crops, 269; livestock and products, 277; meat animals, 315; dairy products, 267; poultry and eggs, 208.
{Revisions prior to December 1952 are available upon request.
9 Ratio of prices received to prices paid (including interest, taxes, and wage rates).
cf For actual wholesale prices of individual commodities, see respective commodities.
©Wholesale price index for paint and paint materials, published in issues of the SURVEY prior to March 1954, has been discontinued.
SUKVEY OF CURRENT BUSINESS
S-6
Unless otherwise stated, statistics through
1952 and descriptive notes are shown in the
1953 Statistical Supplement to the Survey
March 11)54
1954
1953
January
February
March
April
1
i
May
June
July
August
September
October
November
December
January
COMMODITY PRICES—Continued
WHOLESALE PRICEScf— Continued
U. S. Department of Labor indexes:— Con.
Commodities other than farm prod., etc. — Con.
Metals and metal products
1947-49 = 100..
Heating equipment
do
Iron and steel
_. _ _ d o
Nonferrous metals
do
Non metallic minerals, structural
do .
Clav products
do
Concrete products
_ ._
do
Gyn^um products
do
Pulp, paper, and allied products
..
Paper
Rubber and products
_
Tires and tubes
Textile products and apparel
Apoarel
Cotton products
_ ._
...
Silk products
Synthetic textiles
_ __ _
Wool products
do
do
do__
do
do
do
do .do
do
do
Tobacco mfrs. and bottled beverages .. .do
Boveraces alcoholic
do
Cienrettes
-do
124.0
113.8
127. 1
122. 5
114.6
124. 0
112.8
117.7
124. 6
113.9
127.5
124. 4
114.6
124.0
112.8
117. 7
125. 5
113. 9
115.8
124.9
127. 3
126. 3
98. 8
100.0
97.0
141. 4
88.1
113.0
125. 7
114.4
128.9
126. 6
117.2
124. 7
115. 5
122. 1
126. 9
114. 6
130. 9
127.6
118.1
125. 1
115.5
122.1
129.3
115. 1
135. 7
126.4
119.4
131. 1
115.6
122. 1
129. 4
115 6
136. 2
124 5
119.6
131 4
116. 1
122 1
128.5
115 8
134.6
122 8
120.7
132 0
117.4
122 1
127.9
115 8
133. 4
122 1
120.7
132 0
117.4
122 1
127.9
115.8
133. 6
122.3
120.8
132.1
117.4
122. i
r 127. 5
131.5
115. 1
124. 3
112.8
118. 3
125. 0
113.8
127. 7
128.2
116.9
124 6
114.2
122.1
115 5
132.8
122 1
120.8
132 1
117.2
122 1
127.1
115 3
132. 0
121.5
121.0
132.0
117.2
122.1
115. 3
124. 9
126. 2
126. 3
98.5
99.9
96.1
141.4
88.3
111.5
115. 1
124.9
125.7
126 3
97.5
99.6
93.1
141.4
87.9
111.9
115. 3
124.9
124. 8
126.3
97.4
99.9
92 9
131. 6
88.0
111.3
1 15. 4
1^.9
125. 1
126. 3
97. 6
99.9
93. 3
133.0
87.4
112.0
115.8
124. 7
125. 0
126. 3
97.4
99.4
03.4
134. 7
87.5
111.6
115.8
125 1
124.6
126.4
97.5
99 3
94.1
134 7
87.5
111. 7
1 1 6. 2
125 9
123.5
125 1
97. 5
99 3
94.1
134 7
86.7
111 8
116 9
126 5
124.0
126 4
96.9
98 5
93. 7
134 7
86.7
111 2
117. 5
126 6
124.2
130 1
96. 5
98 7
92.4
135 8
85.9
111 6
117.3
126 8
124.3
130 1
96. 2
98 7
91.6
136 5
85.2
111 5
117. 1
126 8
124.8
130 1
95.8
r
97 9
90.9
139 3
85. 5
II 9 1
117.1
126 8
124.8
130. 2
95. 5
97 9
90.3
142. 1
85.5
111.0
111.9
110. 1
112.0
111.9
110. 1
112.0
114.8
110.0
124.0
114.8
1 10. 0
124.0
114.8
110.0
124.0
114.9
110.0
124.0
115.6
110 0
124.0
115.6
110 0
124.0
116.2
111 2
124.0
118 1
114 9
124.0
118. 1
114 9
124.0
118 1
114 9
124.0
118.2
115 0
124.0
91.0
87.8
88.4
91.2
88.2
89.7
90.9
88.0
89.5
91.4
88.0
89.7
91.1
87.7
89.2
91.3
87.3
88.0
90.2
87.2
87.9
90.4
87.0
87.6
90.1
86 8
87.9
90.7
86 7
88.0
91.1
87 0
89.3
90 8
87 0
89.0
*1 90. 3
86 8
i 88.4
PURCHASING POWER OF THE DOLLAR
As measured byWholesale prices
Consumer prices
Retail food prices
.
-
--. 1947-49 = 100
do
-_
do
CONSTRUCTION AND REAL ESTATE
CONSTRUCTION ACTIVITY*
New construction, total
mil. of dol
Private, total
.
_
do
Residential (nonfarm)
do
New dwelling units
do~.
Additions and alterations _
. do._ .
Nonresidential building, except farm and public
utilitv total
mil. of dol
Industrial
_ _.
-do
Commercial
do
Farm construction
_
do
Public utilitv
do
Public, total
Residential
Nonresidential building _
Military and naval
Highway
.
Conservation and development
Other types
_
__ _
_.
do do
do _
do
do
do
do_. _
2,361
2,287
2,527
2,758
2,947
3,209
3,282
3,317
3,295
3 211
2 988
2 661
2 428
1,627
816
735
63
1, 574
758
675
64
1,729
863
770
74
1,872
964
850
94
1,991
1,012
885
105
2, 160
1,123
990
110
2,194
1, 126
990
112
2,202
1 113
980
110
2,177
1 088
960
103
2,129
1 066
940
101
2,052
1 024
905
94
1 908
952
850
78
1 717
830
740
67
431
201
108
97
275
433
204
111
100
275
430
198
114
108
320
427
192
114
120
352
449
190
128
138
380
477
184
152
148
399
490
176
166
155
410
4,93
174
169
158
427
507
177
176
144
428
511
177
179
119
423
523
177
192
100
396
505
176
182
88
354
486
179
164
87
307
734
47
331
106
115
61
74
713
48
323
106
110
56
70
798
47
359
111
140
65
76
886
49
370
113
200
72
82
956
50
371
115
260
75
85
1,049
50
380
120
330
80
89
1,088
46
373
119
375
79
96
1,115
44
371
119
405
75
101
1,118
46
376
116
400
72
108
1,082
46
372
105
390
68
101
936
42
355
101
280
63
95
753
39
336
92
145
56
85
711
35
341
76
125
51
83
CONTRACT AWARDS
Construction contracts awarded in 37 States (F. W.
Dodge Corp.):
50, 484
40, 069
35, 475
34, 561
55, 435
52, 544
53, 304
50, 049
42, 586
46, 564
35, 777
41, 379
Total projects
number
38, 361
Total valuation
thous of dol 1,075,868 1, 021, 310 1, 347, 518 1, 741, 542 1, 606, 091 1, 115, 509 1, 793, 342 1 414 408 1, 741, 673 1, 892 388 1,394 050 1 299 764 1 151 987
372, 004
672, 838
449, 779
350, 709
416, 577
610, 348
553, 760
724, 682
532, 064
689, 264
483, 160 r 478, 814
Public ownership
do
363 087
626, 089
930. 941 1, 068, 704 1, 052, 331
743, 505 1, 182, 994
670, 601
882, 344 1, 016, 991 1, 203, 124
Private ownership
do
820, 950 788 900
910, 890
Nonresidential buildings:
Projects
._ ._ _ _ _
Floor area
Valuation
Residential buildings:
Projects
.Floor area
Valuation
_
Public works:
Projects
Valuation
Utilities:
Projects
Valuation
__
.number
thous. of sq. ft
thous. of dol
3, 651
32, 343
406, 914
3,529
31,115
374, 321
4,760
35, 566
449, 175
5,416
44. 455
680, 330
5,728
45, 640
582, 061
5,020
35, 185
459, 230
6,209
57, 374
764, 393
5,267
40, 292
545, 851
4,675
38, 407
783, 266
5,316
52, 435
758, 130
4,199
40, 368
611,857
3,804
36, 450
540, 338
3 661
33 937
473 077
_ - .number
thous. of sq. f t _ .
thous. of dol
30, 674
51,315
460, 036
29, 960
46, 658
418, 568
44, 115
65, 393
605, 200
47, 761
70, 602
673, 887
44, 317
66, 655
637, 721
32, 745
49, 797
463, 084
44, 227
70, 206
653, 407
38, 554
53, 242
507, 560
35, 712
52, 470
507, 430
42, 610
65, 908
634, 582
35, 668
50, 247
484, 168
30, 492
46, 614
433, 500
33 442
48, 156
462 482
number
-thous. of dol
835
152, 793
778
135, 326
1,247
219, 157
1,849
293, 569
2,094
288, 783
1,874
138, 257
2,336
269, 600
2,335
304, 917
1,796
269, 625
1, 693
270, 064
1,177
239, 827
1, 153
226, 634
951
134, 304
number
thous. of do!
315
56, 125
294
93, 095
362
73, 986
409
93, 756
405
97, 526
430
54, 938
532
105, 942
408
56, 080
403
181,352
430
229, 612
335
58, 198
328
99, 292
307
82 124
156
144
190
173
151
163
173
182
180
186
177
176
205
210
179
179
195
194
161
164
197
192
169
174
189
178
172
175
216
183
205
184
221
181
218
180
220
178
230
183
201
170
2?4
r
176
T
151
r
208
T
'168
177
156
151.
190
181
794 315 1 510 991
766 320
Value of contract awards (F. R. indexes):
Total, unadjusted
. 1947-49=100
Residential, unadjusted
do .
Total, adjusted
do
Residential, adjusted
do
Engineering construction:
Contract awards (ENR)§
thous. of dol
1, 886, 520 1, 023, 021 1, 120, 978 1, 473, 244 1. 083, 795 1, 318, 070 1, 262, 992 1,111 213 1, 116 572 1 469 252
Highway concrete pavement contract awards:©
4,874
7, 006
9,537
8, 333
7,810
Total
thous. of sq. yd._
3,509
5, 698
8,658
1. 652
1,675
413
1,226
495
278
Airports
_ do
973
1,056
2
622
3,215
3, 315
4,590
5,237
Roads
do
1,481
4 232
3 798
2,682
3, 273
2,105
1,026
1,533
2,140
3, 453
2,956
Streets and alleys
do
r
1
Revised.
Indexes on base formerly used (1935-39=100) are as follows: Measured by—wholesale prices, 47.3; consumer prices, 51.9;
awarded in prior months but not reported.
d"For actual wholesale prices of individual commodities, see respective commodities.
t Re visions for 1950-July 1952 will be shown later.
§Data for January, April. July, October, and December 1953 are for 5 weeks; other months, 4 weeks.
OData for April, July, and September 1953 are for 5 weeks; other months, 4 weeks.
6,094
7,187
1, 102
822
4 066
3 691
2,019
1.582
retail food, 43.8.
r
3,258
100
1 774
L384
2
6,605
4.726
148
1 748
24 336
1 852
2
2.121
1 125
Data include some contracts
S-7
SURVEY OF CURRENT BUSINESS
March 1954
Unless otherwise stated, statistics through
1952 and descriptive notes are shown in the
1953 Statistical Supplement to the Survey
1954
1953
January
February
March
April
May
June
July
August
September
October
November
December
January
CONSTRUCTION AND REAL ESTATE—Continued
NEW 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, totalj
number
Privately financed, totalj
do
Units in 1 -family structures^
do
Units in 2-family structures}
do
Units in rnultifamily structures:}:
do
Publicly financed, total
do
Indexes of urban building authorized:
Number of new dwelling units
1947—49 — 100
Valuation of building, total
do
New residential building
do
New nonresidential building
do
.A ddit ions alterations and repairs
do
r
72, 100
79, 200
105, 800
111, 400
108, 300
104, 600
96, 700
93, 200
95, 100
90, 100
81, 500
68, 000
i 66, OOC
38, 776
35, 103
26, 858
2, 511
5,734
3,673
44, 857
40, 199
31, 401
2, 817
5,981
4,658
65, 421
56, 153
44, 648
3,360
8, 145
9, 268
60, 196
57, 222
46, 074
3,524
7,624
2,974
55, 199
52, 742
42, 478
3,296
6,968
2,457
54, 064
51,732
41, 362
2, 635
7, 735
2, 332
47, 267
46, 697
37, 015
2, 906
6, 776
570
45, 621
44, 539
35,689
2,254
6,596
1,082
46, 149
42, 900
33, 626
2,399
6, 875
3 249
43, 381
43, 143
34, 536
2,676
5,931
238
35, 707
34, 150
27, 807
2,098
4. 245
1, 557
32, 753
31, 987
24, 156
2,028
5,803
766
32, 751
30,921
23, 056
1, 461
6, 404
1,830
85.0
106.6
107.4
108.5
99.6
95.8
120.2
124.9
118 2
106.8
142.8
170.0
193.4
148 7
131.4
133.7
183.4
181.4
200 9
151.2
120.7
164.4
164.4
172 5
145.9
118 0
160.0
160 3
159 8
159.5
103 3
159.7
144.9
184 5
158.0
99 6
144. 9
141 0
154 4
137 9
100 9
144.7
143 3
144 7
149 6
94 8
141 8
133 8
156 6
138 0
78.5
121.5
109 7
145 8
109 7
71.5
108. 5
95.8
134 2
96.8
120.8
120.7
120.8
383
120. 8
121. 1
122.1
385
123.1
123.1
123.1
392
122.8
122.9
123.0
392
122. 4
568
611
574
522
560
398
567
611
574
523
559
398
569
614
579
525
561
399
572
614
587
525
564
401
572
616
592
524
568
402
573
616
592
526
568
411
580
639
601
526
574
411
583
639
601
526
574
416
583
639
601
521
574
417
584
640
604
524
572
418
585
641
609
525
576
418
585
641
609
525
576
418
584
641
623
522
576
422
246.6
245.6
254.1
246.5
245.3
253.9
247.3
245.9
254.3
247.7
246.2
254.6
249.2
247.4
255. 5
251.3
249.6
257 1
254.2
252.2
259 0
254. 9
253 0
258 7
255.8
253 5
258 3
255.6
253 2
257 3
256.0
253 7
257 4
256. 3
253 8
257 1
254.9
251.9
255 2
251.0
248.9
250.6
256.6
232.6
251.1
248.9
250.4
256.4
232.5
252.6
249.2
250.8
256. 6
233.1
253.2
249.5
251.3
256. 6
233.3
255.2
251.0
252.3
257.4
234.2
257.5
254 7
254. 0
259 2
239. 1
260.5
257 4
255.8
261 2
241.2
261 0
257 8
256 0
260 0
241 6
262
258
256
259
242
261
258
255
257
242
9
6
2
6
5
262 2
258 9
255 3
257 8
242 8
262
259
255
257
243
5
1
1
2
0
261.4
257 9
253 5
254 7
241 9
254.4
250.9
254.3
250.8
254. 8
251 2
255.1
251 4
256.0
252 0
257 4
253 5
259 4
255 4
259 0
254 6
258 8
254 1
257 8
252 9
257 9
253 0
257 7
252 6
255 7
250 5
125.8
129.8
125.7
129.8
126.1
130.3
126.1
130.2
126. 1
131.1
128 7
133.5
129 2
135 2
129 0
134 9
129 0
135 0
129 0
135 1
128 9
135 0
199 2
135 5
129 4
135 7
CONSTRUCTION COST INDEXES
Department of Commerce composite? 1947-49 =100. _
A bertha w (industrial building)
1914=100
American Appraisal Co., The:
Average, 30 cities
_
1913=100-A tlanta
do
New York_ .
do
San Francisco
do
St Louis
do
Associated General Contractors (all types). -do
E. H. Boeckh and Associates:!
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 :cf
Building
1947-49=100
Construction
_
do
Bu. of Public Roads — Highway construction:
Composite, standard mile.1946=100..
133.2
139.4
0
7
0
0
3
133 9
131 8
CONSTRUCTION MATERIALS
Production of selected construction materials, index:
Unadjusted
„
1939=100-.
Adjusted
_
...
do
145.6
170.5
143.1
173.4
161.5
170.9
172.2
173.2
167.3
158.1
176.1
164 6
174.0
163 5
177.5
156 8
178 6
166 1
185 7
167 6
159 6
161 0
v 146 7
P 166 0
REAL ESTATE
Home mortgages insured or guaranteed by193, 370
Fed. Hous. Adm.: Face amount thous. of dol_. 211, 027 r 189, 690
187, 078
201, 159
185, 610
193, 071
203, 130
193, 538
185, 545
173, 057
172, 353
243, 300
Vet. Adm.: Face amount _
_.
do
274, 218
215, 950
227, 910 T 235, 113
241 928 r 229 347
247 905
291 656
309 429
284 905
252 433
Federal Home Loan Banks, outstanding advances
683
to member institutions
_ mil. ofdol
627
644
611
626
718
746
700
819
952
801
865
New mortgage loans of all savings and loan associa639, 133 677, 941
523, 210
tions, estimated total
thous. of doL. 497, 314
690, 277
733, 216
757, 569
706 631
688 142
684 245
585 915
583 538
By purpose of loan:
147, 444
Home construction
do
205, 584
164, 177
231, 676
225 896
241 284
236 513
217 925
218 785
208 137
190 304
187 422
339 956
222, 232
288 443 295 337 327 046
266, 289
222 353
Home purchase
do
265 424
355 316
318 359
328 453
258 641
Refinancing _ __
do
49,011
62, 308
52, 694
58, 627
60, 425
59 961
51 969
58 476
52 094
45 705
50 671
48* 324
18, 408
Repairs and reconditioning
do
25, 121
20, 253
27, 643
26, 062
27, 307
27, 438
27, 043
27, 059
27, 204
19,454
19, 672
77 gig
60 219
All other purposes
do
63 733
79 831
76 994
77 115
69 343
80 221
71 845
69 780
69 479
65 028
New nonfarm mortgages recorded ($20,000 and
under), estimated totaL - _ _ thous. ofdol 1, 400, 615 1,391,203 1, 626, 602 1, 708, 623 1, 698, 634 1 769 259 1 797 760 1 709 392 1 728 508 1 745 841 1 548 645 1 622 326
13.1
13.2
13.4
12.8
14.0
Nonfarm foreclosures, adjusted index -1935-39 = 100-.
13.0
14.8
14.2
13.6
76, 659
64 239
83, 471
72, 706
Fire losses
thous of dol
67 362
67 644
107 713
74 938
68 551
68 613
68 064
83 440
183, 443
247 561
751
494 859
151 935
217 119
47 548
15, 992
62 265
86 493
DOMESTIC TRADE
ADVERTISING
Printers' Ink advertising index, adjusted:
Combined index
_
1935-39=100
Business papersdo
Magazines
do
Newspapers.
_ do
Outdoor
. do
Radio
. . _
.
do
Television?
1950-52=100 .
465
556
390
338
382
238
160
466
564
411
332
369
235
154
500
571
421
361
398
249
178
498
564
426
350
391
249
181
507
570
429
357
399
241
191
512
565
438
356
387
246
198
541
560
420
362
412
278
238
504
578
382
354
394
265
197
524
575
417
377
395
258
196
531
569
441
366
405
238
217
539
642
432
363
418
244
222
546
590
427
372
443
l)
50
228
Tide advertising index, unadjusted___1947-49=100-.
134.4
119.6
164.9
171.6
174.6
158.6
124.8
161.8
126.6
188.8
183.3
146.4
130.3
T
J
Revised.
v Preliminary.
Data for February 1954, 73,000.
{Revisions for dwelling units authorized for January-July 1952 will be shown later. Minor revisions back to 1915 for the Department of Commerce construction cost index are shown in
the May 1953 Construction and Building Materials Statistical Supplement.
§ Copyrighted data; see last paragraph of headnote, p. S-l.
cfData reported at the beginning of each month are shown here for the previous month.
9 Notice that the base for television differs from that of other media.
SURVEY OF CURRENT BUSINESS
S-8
Unless otherwise stated, statistics through
1952 and descriptive notes are shown in the
1953 Statistical Supplement to the Survey
March .11)54
1953
January
February
March
April
May
1954
July
June
August
September
October
November
December
January
DOMESTIC TRADE—Continued
ADVERTISING —Continued
Radio advertising:
Cost of facilities, total
thous. of dol. Automotive incl accessories
do
Drugs and toiletries
do
Electrical household equipment
do
Financial and insurance
do
Foods soft drinks confectionerv
do
Gasoline and oil
do
Soap cleansers etc
do
Smoking materials
do
All others
do
4,212
388
215
3, 511
446
1.192
1,295
2, 022
12, 661
397
3,846
329
203
3,179
409
1,118
1,291
1,890
14, 662
521
4,403
349
234
3, 558
454
1, 324
1,463
2,357
14, 218
508
4,268
385
223
3,607
402
1, 331
1,415
2,079
14, 107
511
4,288
377
236
3, 550
372 !
1, 238
1,420
2,115
13, 247
557
4,129
433
238
3,047
386
1,372
1,370
1,715
12, 226
607
3,684
435
226
2 985
412
1 , 335
992
1,550
11,707
679
3,363
366
290
2,690
396
1,304
876
1,742
12,145 " 13 829
739
979
3,r 466
3,901
408
' 310
291
'287
' 2, 666 r 3, 101
345
338
1,368
1,429
929
1,271
'1,933
' 2 214
35, 018
1. 563
4, 033
1,343
4, 461
5. 173
1,480
50, 682
3,271
4,744
2,099
6, 068
8,758
2,314
65, 645
5,884
6,199
3,343
7,018
9,653
2,606
65, 525
4, 593
6,135
3,832
6,425
8, 230
2,625
67, 606
5, 536
6,400
4,340
6, 572
7,831
2, 630
57, 876
3, 771
5,894
3,498
7,150
8,016
2,452
37, 505
932
4,265
1,832
5,744
6, 1 79
1,809
42, 740
4 300
4,977
1,881
5,429
6,056
1,402
60, 152
7, 110
4,484
3, 428
6,419
7, 433
2,062
1,013
938
2, 639
830
1,112
10, 434
2,115
1,555
3, 025
1,272
1,388
14, 074
4, 675
2, 551
3,618
1,699
1,444
16, 954
5, 614
4, 178
4,079
1,711
1,260
16, 844
5, 561
3, 791
3, 996
1,940
1,700
17, 308
4, 570
2,087
3,891
1,615
1,677
13, 252
2,117
647
2,607
1,073
1,191
9,109
1,592
1,501
2,986
1,165
1,379
10, 071
thous. of lines--
3,667
4,251
4,991
4,699
4,445
3,360
3,205
do
- do. ..
do
- do _ .
do
- - do ._
do
182, 718
50, 052
132, 666
9,121
3,808
21, 433
98, 304
186, 115
49, 479
136, 636
8,720
2, 377
26, 537
99, 001
231, 721
58,' 456
173, 264
10, 877
3,017
33, 812
125, 559
233, 487
58, 194
175, 292
12, 535
2,910
35, 090
124, 758
244, 446
62, 385
182, 061
13, 493
2,549
36, 191
129, 828
215, 965
56, 330
159, 635
13, 550
2,691
31,171
112, 223
thousands. _
thous. of doL.
6, 672
121,828
6,423
120, 178
7,928
150,315
6,946
128, 270
6,385
117, 261
6,657
126,017
Magazine advertising:!
Cost, total
- _ -.
Apparel and accessories
Automotive, incl. accessories
Building materials
Drugs and toiletries
Foods soft drinks, confectionery
Beer, wine, liquors
...do
do
-do
do
do
do
do
Household equipment and supplies
Household furnishings
_
Industrial materials
Soaps cleansers, etc
Smoking materials
All other
Linage, total
Newspaper advertising:
Linage total (52 cities)
Classified
Display total
Automotive
Financial
General
Retail
13, 878
598
--
do
do
do
do
do
do. -
T
13, 607
1 034
3 658
'249
'222
2 988
461
1 399
1
331
T
2 324
14, 185
896
3, 935
284
255
3, 256
539
1,482
1 353
2, 185
72, 670
5 856
5,770
3,604
7,915
10,010
3,126
69, 846
5 071
5. 405
2 193
7, 555
9,599
3,888
47,531
3 725
2, 617
1, 094
5,109
7, 035
4,165
3,788
3, 077
3,678
1,300
1,581
15, 793
4,985
4, 596
4 640
1,661
1 754
18,753
3,874
3 826
4 999
1,446
1 603
20 386
2, 975
1,904
3 277
618
1 702
13, 310
4,136
4,965
5,230
4,406
3,161
3. 655
187,997
53, 368
134, 629
11,581
3, 074
24,531
95, 442
198, 647
56, 553
142, 095
11,417
2,021
23, 034
105, 623
219, 558
54,175
165, 383
11,910
2,515
31,684
119, 275
244 370
55, 833
188 537
14,312
2 776
39, 186
132 263
241
50
190
12
2
37
137
346
718
629
579
789
773
488
224 299
43 297
181 001
10 048
2 897
27, 608
140 449
182 932
46 054
136 878
10 192
4 071
22, 626
99 989
6,299
119, 269
5, 856
117, 247
6,281
122, 917
6,556
119,218
5, 995
113, 791
6, 669
125, 106
6,112
116,272
POSTAL BUSINESS
Money orders issued (50 cities) :
Domestic:
Number
Value
PERSONAL CONSUMPTION
EXPENDITURES
Seasonally adjusted quarterly totals at annual rates:
Goods and services total
bil of dol
227.7
230 4
231.0
230 0
30
14
12
4
7
3
1
4
30. 4
13.8
12.3
4.3
29
12
11
4
1
9
9
3
Durable goods total
Automobiles and parts
Furniture and household equipment
Other durable goods
do
do
do
do
30.2
13.4
12.4
4.4
Nondurable
goods total
Clothincr and shoes
Food and alcoholic beverages
Gasoline and oil
Semidurable housefurnishings
Tobacco
Other nondurable goods
do
do
do
do
do
do
do
121.2
20.9
74. 2
6.2
2.0
5.2
12.8
122
20
74
6
2
5
13
1
9
5
3
i
4
0
121.3
19.9
74.5
6.5
2.2
5.2
12.9
120
19
73
6
4
8
8
7
Services total
Household operation
Housing
Personal services
Recreation
Transportation
Other services
do
do
do
do
do
do
do
76.3
11.3
25.3
4.3
4.4
6.2
24.8
77
11
25
4
4
6
25
6
5
8
3
4
3
4
79.2
11.8
26.4
4.3
4.5
6.4
25.8
80
11
27
4
4
6
26
5
9
0
4
6
4
3
9 I
5 1
12 9
RETAIL TRADE
All retail stores:
Estimated sales (unadjusted), totaL.mil. of dol._
Durable-goods stores
do ...
Automotive group
do
Motor-vehicle, other automotive dealers
mil. of dol_ Tire, battery, accessory dealers
do.
Furniture and appliance group
do
Furniture, homefurnishings stores
do
Household-appliance rad io stores
do.. -
13, 054
4,450
2,546
12, 329
4,357
2,501
13, 956
4,969
2,848
14, 167
5,139
2,919
14, 665
5, 400
3,093
14, 578
5,480
3 033
14, 385
5 378
3 068
14, 176
5,189
2 838
14, 082
5 003
2 737
14, 951
5 319
2 926
13, 955
4 742
2 531
»• 16, 444
r
4 944
r 2 279
12.38t>
3 918
9 205
2,411
136
676
374
302
2,377
124
656
355
301
2,705
143
676
391
285
2,764
155
676
397
280
2,929
163
752
455
297
2,862
171
796
453
343
2,910
158
741
411
330
2, 690
148
785
435
350
2,594
143
724
389
334
2,770
156
830
475
355
2,388
143
813
465
348
r 2, 099
T
180
r I 000
2, 092
113
663
348
314
684
518
166
660
492
167
788
588
200
868
649
219
897
662
234
965
733
232
961
725
236
964
736
228
943
712
231
968
711
256
862
623
239
'861
'564
' 297
622
458
163
9,264
9,027
8,604
7,972
8,986
9,097
9 007
Nondurable-goods stores
do
866
888
616
893
740
873
708
Apparel group
_
do
184
188
145
184
187
198
149
Men's and boys' wear stores- _ ... do . _
362
368
375
254
286
342
Women's apparel, accessory stores
do
277
173
170
156
126
190
172
151
Family and other apparel stores-.
do _ .
149
155
111
91
150
161
Shoe stores
do
131
381
383
397
392
387
396
Drug and proprietary stores.
_
do
392
1,024
1,085
1,008
940
1, 055
1,093
1,181
Eating and drinking places
do
' Revised.
JUnpublished revisions for magazine advertising for January and April through December 1952 will be shown later.
8 987
699
133
276
161
129
390
1.188
9 080
840
156
324
192
167
377
1.147
9 632
902
177
361
205
158
394
1.134
9 213
866
196
340
194
137
384
1.05J
' 11 500
r i 354
'352
'r 524
291
' 196
8 468
665
171
265
Lumber, building, hardware group
do
Lumber, building-materials dealers, -do
Hardware stores
do.
'535
' 465
r 516
' 1.096
119
400
994
SURVEY OF CURRENT BUSINESS
March 1054
Unless otherwise stated, statistics through
1952 and descriptive notes are shown in the
1953 Statistical Supplement to the Survey
S-9
1954
1953
January
February
March
April
May
June
July
August
September
October
November
Decem- January
ber
DOMESTIC TRADE—Continued
RETAIL TRADE—Continued
All retail stores — Continued
Estimated sales (unadjusted)— Continued
Nondurable-goods stores — Continued
Food group
_ _
mil. ofdolGrocery stores
do
Gasoline service stations
do
3, 395
2, 756
779
3,095
2, 526
752
3,301
2,667
810
3, 395
2,742
826
3,485
2,858
888
3,377
2,781
916
3,478
2, 897
971
3,425
2, 858
960
3, 350
2,783
908
3, 567
2,997
914
3,291
2,740
898
'3,618
'3,018
General-merchandise group
do
Department stores, excl. mail-order. _ _ do
Mail-order (catalog sales)
do
Variety stores
do
Other genera] -merchandise stores
do
Liouor stores
do
1,239
673
88
186
293
229
1,171
624
94
193
260
230
1,466
810
115
232
309
242
1,479
829
98
245
306
249
1. 536
879
98
235
324
261
1, 542
855
104
241
343
247
1,346
708
87
233
318
268
1,460
774
100
242
344
269
1,551
844
110
240
357
275
1,714
934
112
264
403
298
1,753
963
140
257
394
294
r 2, 748
Estimated sales (adjusted), total
do ._
Durable-goods stores
do
Automotive group
- - do
Motor-vehicle, other automotive
dealers
mil. of doLTire, battery, accessory dealers
do ...
Furniture and appliance group
do _ Furniture, homefurnishings stores
do
Household-appliance, radio stores
do
14, 140
5 000
2, 738
14, 514
5,304
2,951
14, 437
5. 211
2,802
14, 280
5. 124
2, 856
14, 424
5, 154
2,871
14,412
5,103
2,816
14, 469
5, 102
2,836
14,073
4,914
2,629
13, 982
4,865
2,667
14,040
5, 029
2,859
14,104
5, 005
2,776
' 13 932
r 4, 626
' 2, 509
13, 674
4, 492
2, 372
2, 572
167
773
443
330
2, 775
176
811
451
360
2,628
174
768
442
32(5
2, 695
161
744
424
320
2,712
159
778
448
330
2, 663
153
786
441
344
2. 694
142
768
426
342
2,490
139
771
416
355
2,530
137
712
380
332
2.718
141
746
429
317
2, 630
147
754
432
322
' 2, 365
2, 232
141
774
425
350
846
629
218
876
648
229
915
681
234
861
652
209
852
634
218
848
633
215
872
637
235
900
671
229
880
657
223
856
618
238
893
657
236
••820
r
597
f-223
9,140
891
210
342
193
146
9,211
883
210
346
188
138
9,225
916
209
355
204
148
9,156
865
199
348
185
132
9,270
915
204
375
189
147
9,309
919
195
382
193
149
9, 367
900
196
357
196
152
9,159
812
168
320
193
131
9,117
796
168
310
175
144
9,011
768
155
299
169
146
9.099
787
167
314
163
143
r 9, 306
' 868
' 188
-•354
' 167
' 158
9, 182
829
200
331
414
1.087
3, 353
2,714
850
412
1,075
3, 393
2,743
869
397
1, 101
3, 376
2,741
845
405
1,082
3,407
2,773
855
404
1, 086
3,367
2,759
854
402
1,086
3,394
2,785
868
393
1,115
3, 434
2. 860
874
391
1,100
3, 413
2, 834
880
387
1,077
3,444
2, 843
877
383
1,070
3, 400
2,842
897
394
1,054
3,375
2,838
910
'408
422
1 , 072
3,367
2, 838
927
1,543
852
109
237
345
254
1, 560
855
116
250
339
264
1. 582
870
118
254
340
263
1,526
835
107
254
329
271
1, 628
902
118
265
343
268
1, 634
898
116
264
357
275
1, 636
874
119
286
356
283
1,595
868
109
264
353
279
1,548
832
103
262
352
285
1, 528
840
96
249
343
274
1,571
857
106
252
356
278
r 1, 629
'870
do
do
do ...
20, 476
9,540
10, 936
21,347
10, 059
11,288
22, 649
10, 698
11, 951
23, 161
11,228
11,933
22, 760
11,028
11, 732
22, 141
10, 737
11,404
22, 112
10, 706
11,406
22, 448
10, 547
11,901
23, 023
10, 615
12, 408
23, 584
'10, 589
12, 995
23, 628
10,459
13, 169
r 21,208
r 9, 876
' 11,332
21,391
10.235
11, l.W
Adjusted, total
do
Durable-goods stores
do ..
Automotive group
do
Furniture and appliance group
do
Lumber, building, hardware group. _, do
21, 518
9,897
3.215
1,973
2,471
21, 707
10, 149
3, 363
2,003
2,497
21, 981
10, 303
3, 431
2,020
2, 529
22, 387
10, 543
3, 569
2.048
2, 567
22, 455
10, 526
3, 528
2, 070
2,572
22, 294
10, 472
3,573
1,980
2, 574
22, 743
10, 730
3,810
1,981
2,555
22. 775
10, 624
3,737
1,987
2,531
22, 924
10, 921
3, 937
2,038
2,520
22, 720
10, 727
3, 875
2,028
2,424
22, 437
10, 574
3, 768
1,994
2,419
r 22, 661
r 10, 668
3 748
2, 039
' 2, 495
22. 572
10, 718
3 909
1 , 984
2, 437
do. ..
do
do
do
11,621
2,500
2, 301
3, 656
11, 558
2,418
2,244
3,756
11,678
2, 500
2, 224
3,770
11,844
2,528
2, 258
3,851
11,929
2,487
2,317
3, 851
11,822
2, 506
2,235
3,824
12,013
2, 628
2,214
3,923
12,151
2 593
2 352
3,897
12, 003
2, 573
2 324
3, 842
11,993
2, 573
2,314
3,857
11,863
2, 527
2,289
3,823
r 1 1 993
1 1 854
2 594
2 394
3, 701
do
do ..
do
do
do _..
do
do
do
2,285
132
15
51
38
60
50
20
2,145
119
13
47
36
57
47
22
2,485
188
19
74
56
60
54
28
2,546
180
17
70
60
60
56
24
2, 604
180
17
72
58
62
58
30
2,576
178
17
68
62
62
59
26
2,460
142
11
59
49
63
61
24
2,501
138
10
59
46
62
59
27
2,524
171
13
65
59
60
60
25
2,760
188
18
73
57
64
59
30
2,587
176
20
69
48
60
53
32
r 3 457
General-merchandise group
do
Department stores
do _ _
Dry-goods, other g e n e r a l - m e r c h a n d i s e
stores
mil. of dol_.
Variety stores
_ ... do _.
Grocery stores
do
Lumber, building-materials dealers
do
Tire, battery, accessory stores
do_. ,
556
248
543
233
684
302
718
338
747
376
750
362
652
306
705
325
726
335
798
372
801
352
r J 289
83
142
1,039
51
43
78
144
939
47
41
103
172
999
54
49
104
183
1,013
62
54
102
177
1, 050
63
56
108
184
1,015
68
60
92
172
1,038
67
57
107
182
1 035
68
55
107
183
1 014
71
47
121
202
1 132
70
53
121
199
1 001
58
49
2,506
167
16
68
49
63
51
27
2,570
168
18
66
52
62
52
27
2, 591
171
18
64
55
61
53
31
2,579
171
17
69
51
63
56
26
2, 586
177
18
70
57
64
57
30
2, 618
174
17
69
56
64
59
26
2, 635
184
18
73
61
64
60
26
2,572
169
16
69
55
63
57
26
2, 562
165
15
63
55
63
59
25
2, 532
168
15
65
54
63
57
27
2, 569
173
17
68
51
63
55
30
756
727
General-merchandise group
do
359
Department stores
do
345
Dry-goods, other general-merchandise
98
101
stores
mil. of dol_.
187
Variety stores
_
do
181
Grocery stores
do
1,000
995
69
63
Lumber, building-materials dealers..
do
60
61
Tire, battery, accessory stores
.do
'Revised.
jRevised series. See corresponding note on p. S-3.
769
357
745
343
795
377
778
356
782
359
735
328
716
317
698
317
723
321
114
189
1,004
69
57
112
190
1,018
64
58
108
200
992
60
54
112
201
1 030
61
54
104
208
1 045
61
47
109
198
1 044
62
50
105
199
1 066
56
47
103
190
1 059
53
51
109
196
1 060
57
Lumber, building, hardware group _ _ d o
Lumber, building-materials dealers ... do
Hardware stores
do
Nondurable-goods stores do ___
Apparel group
do
Men's and bovs' wrear stores
_ do
Women's apparel, accessory stores
do
Family and other apparel stores
do
Shoe stores
do
Drug and proprietary stores
Eating and drinking places
Food group
Grocery stores _ Gasoline service stations
do
_ do. do
._do
do
General-merchandise group - ...
do _..
Department stores, excl. mail-order,. do
Mail-order (catalog sales) ..
do_ Variety stores
do
Other general-merchandise stores
do
Liquor stores
do
Estimated inventories:!
Unadjusted, total
Durable-goods stores
Nondurable-goods stores
_
Nondurable-goods stores
Apparel group
Food group
General -merchandise group
Firms with 11 or more stores:
Estimated sales (unadjusted), total
Apparel group
Men's and boys' wear stores
Women's apparel, accessory stores
Shoe stores . _ _
_
Drug and proprietary stores
_ _
Eating and drinking places
Furniture, homefurnishings stores
Estimated sales (adjusted), total
Apparel group
._ .
. _,
Men's and boys' wear stores
Women's apparel, accessor v stores
Shoe stores
.
Drug and proprietary stores.
Eating and drinking places
Furniture, homefurnishings stores
do
do
do. - do
do
do
do
do
' 914
r 1,477
r 18!
526
r
564
••462
r 144
' 738
'418
r
320
r 1,064
r 3. 432
r 2, 890
-•933
' 118
260
'381
'308
r
2 52!
2 344
3,858
r 287
r 35
'113
' 81
88
r 57
'33
' 509
194
r 41Q
' 1 129
' 50
' 72
' 2, 620
r 188
20
r 75
' 56
63
' 54
r 23
r 7()()
r
3 18
130
203
r i Qf)4
59
'50
3, 346
2,818
847
1,192
635
75
175
307
820
594
226
162
1,535
837
96
235
367
9 236
119
12
44
38
59
51
23.
502
223
75
134
1 095
44
38
2, 506
158
14
63
4M
63
52
31
690
•> i^
104
181
1 075
58^
51
SURVEY OF CURRENT BUSINESS
S-10
Unless otherwise stated, statistics through
1952 arid descriptive notes are shown in the
1953 Statistical Supplement to the Survey
March 1954
1954
1953
January
February
March
April
May
July
June
August
September
October
November
December
January
DOMESTIC TRADE—Continued
RETAIL TRADE— Continued
Department stores:
Accounts receivable, end of month:
147
Charge accounts
1947-49 — 100
226
Instalment accounts
_
do _ .
Ratio of collections to accounts receivable:
47
Charge accounts
_.
percent
r
13
Instalment accounts 9
do
Sales by type of payment:
47
Cash sales-...
_
_ _ percent of total sales ._
42
Charge account sales
_
do._ _
11
Instalment sales
do
'86
Sales, unadjusted, total U. S.t
1947-49 = 100-.
'96
Atlanta
do
83
Boston
_
do
83
Chicago
_do
87
Cleveland
do
r
100
Dallas
do
86
Kansas City
do
74
Minneapolis
do
80
New York
_
_
do
82
Philadelphia
do
'85
Richmond
do
83
St. Louis
_ do
'92
San Francisco
do
111
Sales adjusted total U. 8.1
do
••125
Atlanta
_
- _
do
105
Boston
do
107
Chicago
- do
113
Cleveland
do
127
Dallas
do
114
Kansas City
do
103
Minneapolis
•
do
100
New York
do
108
Philadelphia
_
do
r
116
Richmond
do
St. Louis
_ .- _ _
do
108
r
117
San Francisco
do
Stocks, total U. S., end of month :}
r
112
Unadjusted
_
do
r
124
Adjusted
do
Mail-order and store sales:
268, 261
Total sales, 2 companies
thous. of dol__
62. 778
Montgomery Ward & Co
_
do
205, 483
Sears, Roebuck & Co
do
Rural sales of general merchandise:
253. 7
Total U. S., unadjusted
1935-39=100,_
238.6
East
_do
281.0
South
do
237.2
Middle West
do
286.3
Far West
do
335.1
Total U. S., adjusted
do
314.8
East
do
351. 2
South
_
do
316.3
Middle West
- do
389.0
Far West
do
WHOLESALE TRADE
8,474
Sales, estimated (unadj ), total t
mil. of dol..
2,687
Durable-goods establishments _
do
5,787
Nondurable-goods establishments
_
do
11,404
Inventories, estimated (unadj.). total f
_ do
5,763
Durable-goods establishments
do
5,641
Nondurable-goods establishments
do
114
214
113
218
125
222
132
229
146
238
194
259
159
252
46
13
45
' 14
46
' 14
48
'14
47
'14
46
'14
43
13
47
43
10
108
114
103
110
111
118
111
98
99
105
112
110
112
115
128
103
112
118
134
118
106
102
110
119
122
121
47
42
11
89
102
76
89
89
104
91
84
75
83
96
86
101
113
127
106
110
114
124
111
105
104
117
120
107
117
47
42
11
98
114
79
98
104
116
104
97
75
92
97
100
109
112
130
99
109
120
127
112
102
99
116
114
110
113
46
44
10
112
122
112
113
114
119
109
110
102
108
121
109
111
107
119
105
106
109
112
103
100
98
104
114
102
110
46
43
11
115
130
107
112
115
128
114
118
110
114
'122
119
111
110
128
107
109
110
122
108
103
104
106
'117
108
111
46
44
10
136
146
129
137
142
144
129
121
129
142
144
136
131
113
128
107
113
115
127
112
105
102
108
118
114
112
48
43
9
192
219
194
188
187
209
189
171
178
188
r
211
r
185
' 195
112
127
108
115
112
125
114
107
101
' 108
' 121
' 113
109
47
42
11
*>83
P94
p83
P82
P81
?94
P82
p75
p81
P80
p80
p83
p85
p 108
P122
P105
P106
P106
P 119
pllO
P 104
P 101
P104
P109
P108
P108
132
127
123
128
121
130
126
131
132
128
141
128
142
127
109
123
P108
p 120
345, 223
90, 564
254, 659
384, 048
95, 059
288, 989
380, 397
92, 804
287, 593
316, 298
78, 977
237, 320
339, 713
89, 164
250, 549
351, 988
91, 513
260, 475
377, 007
99, 860
277, 147
369, 320
93, 800
275, 521
511, 657
138, 930
372, 727
231,649
52, 587
179, 062
322.5
316.3
349. 5
312.1
352.3
347.9
326.0
379.9
327.8
404.9
293. 6
265.8
313.3
274.9
340.2
313.3
285.8
348.9
287.6
371.8
308.3
294.1
320.3
292.9
339. 7
343.7
327. 5
386.4
330. 6
379.1
316.8
281.7
334.8
309.9
369.1
355.2
313.0
385.3
338. 3
394.8
262.6
228.4
269.1
250.9
349.5
353.9
322.6
374.3
335.9
428.3
312.7
278.3
330.8
291.8
391. 4
339. 2
317.3
368.4
315.1
400.0
335.3
295.9
358.6
315.0
403.7
308.7
293.8
323.6
292.8
356.0
333.5
311.5
377.7
320.5
396.8
288.5
270.9
300.2
277.5
353.0
427.3
434.6
468.2
400.8
461.7
324.7
305.6
339.8
305. 0
368.2
541.0
487.5
560.9
520.4
648.6
353.4
314.5
386.0
341.9
407.2
235.7
212. 2
251.1
225.4
275 4
311.4
279 9
313.9
300.5
374.2
9,398
3,184
6,214
11,641
6,243
5,398
9,270
3. 288
5, 982
11,493
6,264
5,229
9,014
3,079
5, 935
11,433
6,259
5,174 i
9,917
3, 223
6,694
11,453
6,127
5, 326 J
10, 186
3,150
7, 036
11,607
6,107
5,500
9,386
3,096
6,290
11, 750
6,094
5,656
9,759
3,296
6, 463
12,013
6,077
5,936
9,933
3,344
6,589
12,214
6,044
6,170
9,231
2, 973
6,258
12, 153
5,902
6,251
' 9, 180
2,986
' 6, 194
' 11,695
' 5, 676
'6.019
8,042
2,444
5,598
11,904
5.866
6.038
123
222
122
220
124
220
123
219
49
15
46
'14
46
'14
r
47
42
11
88
102
80
85
89
101
91
80
81
85
89
89
94
112
124
106
110
115
125
115
105
100
112
117
113
116
46
43
11
103
124
95
101
107
117
103
92
93
106
110
104
102
115
128
105
114
116
126
114
108
103
112
124
118
119
47
43
10
104
117
101
104
103
117
106
97
95
103
111
105
105
110
118
106
110
105
124
112
99
102
113
117
111
116
47
43
10
115
131
106
114
115
127
115
107
101
118
'127
118
117
117
134
106
114
115
131
115
107
104
119
'128
118
124
119
123
127
122
132
125
258, 518
62, 171
196, 347
327, 550
87, 515
240, 036
277.7
254. 3
308. 1
254. 7
301.9
331.8
306. 4
354.1
318.4
404.1
8,242
2,862
5, 380
11, 504
6,002
5, 502
126
224
T
44
13
r
47
14
r
EMPLOYMENT AND POPULATION
19 53
January
February
March
April
May
June
July
15 54
August
Septem- October Novem- DecemJanuary
ber
ber
ber
February
POPULATION
Population, continental United States:
Total, incl. Armed Forces overseas © thousands
' 158, 423 ' 158, 623 ' 158, 804 '159,017 '159, 202 '159, 410 '159, 629 r159, 889 160, 154 '160, 408 '160, 654 160, 873 161, 100 *1 6 1,330
EMPLOYMENT
Noninstitutional population, estimated number 14
114, 191 114, 479 114, 755 114,828 114, 931 115, 032 115, 132 115, 232 i 115, 342 115,449 115, 544 115, 634 115, 738 115,819
years old and over, total cf§- - thousands
Total labor force, including Armed Forces :§
68, 238 * 67, 127
66, 954
68, 290
68, 258
66, 679
66, 338
66, 497
66, 874
66,106
66, 905
(Old sample)
do
65, 959
66, 255
65, 589
67 139
(New sample)
do
66 292
64,
648
64,
734
i
63,
552
62, 810
62, 964
64, 668
63, 404
62, 614
63,134
Civilian labor force, total (Old sample)
do. _ _
62, 712
63, 353
62, 137
63, 491
62, 416
(New sample)
do
62 8$ 63, 725
63, 120
61, 658
63, 408 1 62, 306 62, 242
63, 172
60, 764
61, 460
61, 228
Employed (Old sample)^ .
__
do
60, 924
61, 925
59, 778
60, 524
60, 106
(New sample)
do
59 753
60 051
Agricultural employment:
7,274
* 7, 262
6,390
7,159
7,628
5,720
6,070
7,926
5,438
5,366
6,651
(Old sample)
do
5,452
5.315
5,626
(New sample)
do
5 2S4
5 697
Non agricultural employment:
55, 492
55, 740
55, 268
56, 134 i 55, 044
55, 083
55, 246
55, 158
55, 274
55, 326
(Old sample)
do
55, 558
54, 433
54, 480
55, 072
(New sample)
do
54, 349
54, 469
1 1, 246
1,240
1,162
1,562
1,548
1, 674
1,582
1,306
1,850
1,428
2, 359
3.385
Unemployed (Old sample) _
do
1,892
1,788
3, 671
(New sample)
do
5 OS7
46, 742
46, 874
46, 994 i 48, 215
48, 076
48, 490
48, 434
48, 495
49, 528
48, 224
48, 671
Not in labor force (Old sample)
do
50, 149
48, 915
48, 232
(New sample)
do
49, 447
48, 679
!
' Revised.
p Preliminary.
See note marked "c?1" for this page.
9 Revised beginnning 1953; not strictly comparable with earlier data.
JData for 1946-53 have been revised to
reflect changes in seasonal factors and other minor changes. Unpublished revisions (prior to July 1952) will be shown later.
fRe vised series. See corresponding note on p. S-3.
©Minor changes have been made for May 1950-October 1951. Revisions for November 1951-December 1952 follow (thous.): 155,355; 155,574; 155,790; 156,012; 156,211; 156,420; 156,617; 156,815;
157,022; 157,259; 157,516; 157,767; 158,002; 158,216.
cfBeginning in January 1953, materials from the 1950 Census have been used in estimating the labor force statistics. Accordingly, the figures prior to January 1953 are not entirely comparable with those for subsequent months. The new materials were introduced gradually over the 3-month period January-March 1953. As a result, estimates of employment were raised by
approximately 400,000 and estimates of persons not in the labor force by about 200,000. The unemployment estimates were practically unaffected. In September 1953, a further revision in
the estimating procedure was introduced which raised the level of agricultural employment by roughly 200,000 (and conversely lowered the level of nonagricultural employment by approximately 200,000). See note at bottom of p. S-10, February 1954 SURVEY, for rough adjustment factors for use in comparing the 1953 estimates with earlier dita.
§Beginning with data for January 1954, the Bureau of the Census has released preliminary estimates of the labor force based on a new sample. The new sample, like the old, consists of
25,000 households, but is more widely distributed in 230 areas covering 450 counties (the old sample comprises 68 areas in 123 counties). Since it is believed that the new sample yields more
accurate results, present plans call for discontinuance of data based on the old sample.
SUKVEY OF CURRENT BUSINESS
March 1904
Unless otherwise stated, statistics through
1952 and descriptive notes are shown in the
1953 Statistical Supplement to the Survey
S-ll
1954
1953
January
Febru-
ary
March
May
April
June
July
August
Septem-
Novem-
ber
October
49, 695
17 221
9 955
7 266
' 49, 663 r 49, 332
17 017
r 16 709
r 9 879
9 700
r
r
7 138
7 009
r 817
'813
ber
Decem-
ber
January
EMPLOYMENT AND POPULATION—Continued
EMPLOYMENT— Continued
Employees in nonagricultural establishments:
Total, unadjusted (U. S. Dept. of Labor)
48, 382
thousands ._
16, 884
Manufacturing.
do
.1
9,880
Durable-goods industries
do
7,004
Xondurable-goods industries
.do
866
Mining, total
do
102
Motal.
do
61
Anthracite
do
331
Bituminous coal
_ do
Crude-petroleum and natural-gas production
275
thousands
98
Nonmetallic mining and quarrying
do
2,303
Contract construction
do
4,210
Transportation and public utilities
_ .do
1,368
Interstate railroads
do
126
Local railways and bus lines
._ do . . .
685
Tolephone
_
_
do
49
Telegraph. _.
__ _. .
do
541
Gas and electric utilities
do
Wholesale and retail trade
do
Wholesale trade
do
Retail trade
do
General-merchandise stores
do __
Food and liquor stores. ...
do __
Automotive arid accessories dealers.. .do
Finance, insurance, and real estate
do
Service and miscellaneous
do
Hotels and lodging places
do___.
Laundries
do
Cleaning and dyeing plants
do
Government
do
Total, adjusted (Federal Reserve)
Manufacturing _ _ .
_ _
Mining
Contract construction
_
Transportation and public utilities
Wholesale and retail trade
_.
Finance, insurance, and real estate
Service and miscellaneous
Government
do
do
do
.do
do
do __
do
_ do
do
Production workers in manufacturing industries:
Total (U. S. Dept. of Labor).:
thousands..
Durable-goods industries _
do
Ordnance and accessories
do
Lumber and wood products (except furniture)
thousands. _
Sawmills and planing mills
do
Furniture? and
fixtures._. do. .
Stone, clay, and glass products
do
Glass and glassware, pressed or blown
thousands..
Primary metal industries
do
Blast furnaces, steel works, and rolling
mills ._ ._
... thousands. .
Primary smelting and refining of non ferrous metals
thousands
Fabricated metal prod . (except ordnance, machinery, transportation equipment)
thousands. .
Heating apparatus (except electrical) and
plumbers' supplies
thousands
Machinery (except electrical) ._
__do
Electrical machinery
do _
Transportation equipment _
do
Automobiles ..
do
Aircraft and parts
do
Ship arid boat building and repairs— do
Railroad equipment
do
Instruments and related products
do
Miscellaneous mfg. industries
do
Nondurable-goods industries ...
do
Food and kindred products
do
Meat products.
do
Dairy products
__ ..
do
Canning and preserving
do
Bakery products
do..
Beverages ...
, . _ _ ..
do
Tobacco manufactures
do
Textile-mill products
do
Broad-woven fabric mills
do
Knitting mills
... do .
Apparel and other finished textile products
thousands
Men's and boys' suits and coats
do
Men's and boys' furnishings and work
clothing
thousands. .
Women's outerwear
_ _
do
Paper and allied products
do
Pulp, paper, and paperboard mills.. do
Printing, publishing, and allied industries
thousands..
Newspapers
do....
Commercial printing
do
Chemicals and allied products.
_
do
Industrial organic chemicals
do
r
Revised.
* Preliminary.
10, 283
2,747
7,536
1,407
1,371
808
1,969
5, 192
443
342
172
48, 369
17,013
9,989
7,024
856
101
60
325
272
98
2,280
4,210
1, 356
132
689
48
541
10, 214
2, 743
7,471
1,355
1,381
810
1,977
5,194
451
340
172
48, 685
17, 135
10, 103
7,032
846
100
57
318
271
99
2,301
4,235
1, 361
131
694
48
543
10, 284
2,730
7,554
1, 396
1,389
813
1,993
5,225
456
340
175
48, 860
17, 077
10, 117
6, 960
835
100
51
310
49, 058
17, 040
10, 096
6,944
49, 416
17, 162
10, 121
7,041
831
100
56
300
835
101
54
299
272
102
271
104
276
105
2,416
4,244
1,376
2,509
4,279
1,387
131
682
48
542
10, 314
2,713
7, 601
1,397
1,398
820
2,014
5, 307
464
344
181
2, 608
4,315
1,400
49, 215
17, 069
10 007
7, 062
823
100
49
290
49, 409
17.258
10 006
7,252
831
100
50
291
280
105
284
106
2 662
4,340
1 410
2 715
4,337
1,407
826
100
50
291
131
697
49
544
131
700
49
552
10 348
2 712
7,636
1,406
1,399
10,415
2,729
7,686
1,402
1,406
10 355
2 736
7 619
1, 350
1 401
10 334
2 733
7' 601
1 356
1 391
10 464
9 ^35
7 7°8
1 421
1 402
2,025
5 357
2,046
5,397
2 075
5 413
2 076
5 409
2F 054
i 393
829
470
349
184
839
496
354
187
131
710
48
559
846
538
355
180
129
704
48
561
851
538
351
176
128
698
48
555
99
49
286
49
T 280
••276
'279
280
r 2 772
r 4 310
1 383
' 130
r 2 669
4 272
r i 355
' 130
r
279
106
2 751
4 323
1 394
99
49
r
284
105
700
48
551
r JO 6H
104
699
552
r 10 7(j(j
o' 792
7' 974
1 601
1 431
2 768
7 843
1 496
1 422
'854
2 055
5 336
849
486
346
180
858
2 056
5 303
T 440
r 345
r 451
r 34Q
r 185
6,625
6,666
6,653
6,669
6,038
6 478
6 449
6 663
6 749
r 185
c 740
49, 014
16, 949
49, 113
17, 039
49, 148
17, 168
49, 154
17, 229
49 297
17, 276
49, 486
17, 319
49 511
17 303
49 302
17 126
49 ^16
16' %9
r 1 fi 7Qft
r 1 fi ^P.Q
2,531
4,246
10, 437
1,989
5,298
6,692
2,562
4,261
10, 445
1,987
5,300
6,652
2,529
4,272
10, 390
1,993
5, 305
6, 637
2., 517
4, 266
10, 402
2,004
5,307
6,591
2,484
4 282
10, 466
2 015
5,304
6 637
2, 508
4, 282
10, 521
2,026
5,317
6,682
2
4
10
2
5
6
511
293
524
044
333
687
2 514
4 287
10 489
2 055
5*329
6 681
9 571
4 301
10* 503
2 064
5' 313
6 f.OC
13, 619
8,020
13, 733
8,115
13, 831
8,211
13, 758
8,215
13, 666
8 056
13, 851
8 054
159
13, 832
8 016
iw
r 13, 627
150
13, 699
8,179
13, 787
8,190
147
688
408
701
413
718
426
722
429
713
423
705
419
139
676
406
329
451
87
1, 139
867
142
677
404
332
453
854
333
459
88
90
1, 142
1, 145
838
329
462
91
1, 144
833
831
156
158
713
422
731
432
322
461
91
317
465
92
816
162
315
456
87
821
315
463
r ^ 3*}fi
89
91
1 134
1 128
571
572
561
r
91
1, 099
r
'90
1, 078
44
44
44
40
49
931
942
952
952
952
956
938
946
944
'929
'907
122
1,313
899
1,509
124
1,323
916
1,543
124
1,335
925
1,574
125
1,321
926
1,576
123
1,307
919
1,556
123
1,300
911
1,548
120
1,264
892
1 533
122
1, 235
905
1 521
121
1,228
913
121
5,599
1 045
5,618
1 033
249
76
132
179
124
241
78
129
180
122
5,620
1 025
238
80
123
180
125
5, 543
] 027
233
83
134
179
127
244
413
245
415
5 520
1 051
5,597
1,097
233
87
146
181
132
237
94
165
184
132
241
403
239
420
5 610
1 184
5 797
1 264
240
94
244
184
139
700
240
93
316
182
143
r 551
241
r 432
498
C1 «
82
r 172
235
233
232
232
114
1,097
484
1 109
1 137
1 139
1 086
1 061
1,072
1 053
1 109
i fi87
279
351
436
223
498
144
161
516
190
124
289
356
289
318
437
223
439
223
440
222
497
144
499
146
498
146
284
360
159
519
189
159
526
190
158
526
191
125
127
288
298
288
309
440
222
446
225
499
148
502
148
158
517
192
159
513
195
118
277
314
442
225
496
146
157
508
195
r 183
135
107
1,102
486
126
5 550
'232
-IQO
85
1,094
490
124
r
r i 135
QQ
r 249
242
85
1,122
497
119
5 g86
i 202
342
85
1,117
494
929
111
' 1, 076
r 475
r
224
r
i 090
T 180
139
103
' 1, 055
467
218
r 1 074
125
129
129
128
291
335
290
316
'288
r 317
r 318
454
228
452
r
226
450
226
5C9
149
••513
150
'512
150
450
227
499
146
156
511
196
159
515
193
T
161
r 513
190
T
282
161
509
188
_
445
88
1, 065
p 1, 036
'874
P875
115
110
' 1, 207 ' 1, 207
T 885
r 853
' 1 414 r i 452
r 703
732
T 519
532
124
127
r 54
56
' 242
'240
r 410
' 425
r 257
79
85
1,119
494
231
r
r
87
1,134
499
226
127
r 57
241
94
1,134
502
232
r 905
r i 479
r 732
CO
101
1,132
502
230
r I, 219
130
5
qoe
' 456
43
775
545
130
59
v ^ *}99
P612
43
244
411
p 16 169
'645
42
244
410
p 6 747
407
42
241
404
182
r 685
42
241
393
Q44
v 12, 747
41
1 4Q*}
p 2 049
p 5 216
436
' 13, 322 ' 13, 122
562
796
537
134
55
9 co
' 2, 077
562
803
535
136
63
5
, c oqn
Af\K
1, 143
816
532
135
61
r
T
v 9 47*i
315
1 138
p 10 423
p 2 755
p 7 668
•D 1 ft P17Q
564
831
533
139
62
i 995
i 445
' 866
f 2 064
Q5
P 2 252
p 4 143
r 1ft f\^R
563
821
542
137
63
11 324
2 7QO
T K <V-{1
p 278
r 9 fil t\
562
798
538
137
59
r
820
567
769
531
139
58
109
T 2 520
r 4 241
1 330
129
698
47
551
r 47
6,675
872
' 49, 739 P 47, 736
r
p 16 113
16 495
r 9 572
•p 9 381
' 6 923 P 6, 732
r 809
p 793
r 99
p 98
p 1, 192
p 821
p 1 421
p~234
p 396
' 5 477 P 5 296
rl ' ft71
p l' 001
252
78
140
176
126
p93
' 107
p998
' 1, 039
459
212
T 1
ft7Q
125
274
339
'445
226
'513
150
163
503
186
P438
P503
r, cna
SURVEY OF CURRENT BUSINESS
S-12
Unless otherwise stated, statistics through
1952 and descriptive notes are shown in the
1953 Statistical Supplement to the Survey
March 11G4
1954
1953
January
Febru-
ary
March
April
May
June
July
August
Septem-
ber
October
Novem-
ber
Decem-
January
183
142
202
83
'336
222
v 197
ber
EMPLOYMENT AND POPULATION—Continued
EMP LO YM ENT—Con ti nued
Production workers in mfg. industries— Con.
Total (U. S. Dept. of Labor)— Continued
Nondurable-goods industries— Continued
Products of petroleum and coal
thousands. _
Petroleum refining
do
Rubber products
_ do . .
Tires and inner tubes
do
Leather and leather products
..do. __
Footwear (except rubber)
do
Manufacturing production-worker employment
index, unadjusted (U. S. Dept. of Labor)
1947-49 = 100.Manufacturing production-worker employment
index, adjusted (Federal Reserve) -- .1947-49=100-.
186
144
219
92
359
236
186
144
219
91
364
238
186
144
221
92
363
238
188
144
221
92
355
232
188
143
220
93
344
226
190
145
220
92
351
231
190
145
213
90
344
224
110.1
111.0
111.8
111.2
110.8
111.5
110. 5
112.0
111.8
110.2
107. 7
' 106. 1
p 103. 1
110.6
111.2
112.0
112.4
112.6
112.7
112.4
111.0
109.8
108.4
' 106. 7
' 105. 4
p 103. 5
233, 697
65, 912
112,723
240, 604
71,537
112,856
259, 370
91,151
112,583
280, 496
110.780
114,107
312 091
131, 103
120, 212
326 974
140, 319
124, 974
336, 979
149,936
123,676
329, 727
147, 734
119, 845
31 5. 207
138.824
117.069
283, 814
110, 322
114, 128
P 246, 058
P 73, 051
p 113, 372
2,348
244
2,331
241
2,313
238
2,291
234
2 291
234
2 269
230
2, 245
227
2.218
224
2, 192
222
2,189
221
2,180
220
1,219
1,223
1,239
1. 251
1,263
1,274
1,271
1, 258
1.248
1,222
1,190
1. 139
116.1
119.0
116.5
119.4
118.1
120.0
J19. 3
119.8
120.4
118.8
121.5
118.9
121.2
118.7
120.0
117.1
119.0
115.2
116.4
115. 4
P 113.2
p 115.0
P 108. 5
p 112.8
148.4
149.3
151.9
150. 0
149.9
150. 8
148. 9
151.6
150.9
r 149. 3
145.7
r
" 138. 1
41.0
41.8
41.0
40.9
41.7
41.6
41.1
41.9
41.2
40.8
41.6
40.7
40.7
41.5
41.4
40.7
41.4
41.3
40.3
40.8
41.2
40.5
41.1
40.9
39.9
40.6
41.0
40.3
41.0
MO. 9
40.0
40.6
39.8
40.7
40.3
41.4
40.6
39.6
41.7
41.0
40.6
41.5
41.0
39.9
41.4
40.9
40.4
41.6
41.3
40.6
41.7
41.0
40.7
41.3
41.1
39.7
41.2
40.8
40. 5
40.9
41.2
39. 8
41.3
41.4
41.2
41.0
41.1
40.0
41.4
40.7
40.4
39.8
40.8
39.0
40.9
40.9
41.1
40.9
41.1
39.8
41.0
40.2
40.4
40.5
40. 4 "
39.3
40.2
' 40.9
Ml.l
Ml.l
Ml. 2
39.7
40.3
' 40.1
MO. 1
40.6
40.6
39.4
39.9
41.4
40.9
40.9
40.3
41.1
40.9
40.8
41.0
40.0
40.2
39.8
39.1
41.9
41.7
41.7
41.6
41.6
41.5
41.2
41.2
41.3
Ml. 4
Ml. 8
41.7
42.4
42.2
42.4
42.2
42.1
42.0
41.3
41.4
40.7
Ml. 3
41.0
41.5
40.5
43.0
41.7
41.9
41.4
43.3
39.6
40.7
41.8
41.4
41.0
42.8
41.2
41.8
41.7
43.0
38.3
40.6
41.7
41.1
41.0
43.1
41.5
41.7
41.8
42.3
39.2
40.5
41.9
41.5
40.7
42.8
41.3
41.6
41.9
42.0
39.7
40.2
41.2
41.3
40.5
42.5
40.8
41.3
41.5
41.7
39.7
39.5
41.6
40.9
40.1
42.2
40.8
41.2
41.5
41.2
39.5
40.0
41.5
40.9
40.1
41.7
40.1
40.8
40.7
41.5
39.5
38.8
40.6
39.7
40.0
41.8
40.7
41.2
41.2
41.8
39.5
38.6
41.0
40.6
39.0
41.6
40.5
40.3
39.9
41.4
38.1
39.1
41.2
40.1
MO. 3
42.0
40.4
39.1
41.6
40.3
MO. 3
'40.0
41.6
37.9
'38.7
Ml. 4
40.7
39.7
Ml. 9
' 40. 2
MO. 7
40.2
41.7
39.6
39.6
Ml. 6
40.9
39.8
41.1
41.7
42.8
38.2
40.9
40.3
38.5
40.1
40.4
38.0
39.8
40.7
40.0
43.9
38.0
41.2
40.4
36.9
40.1
40.2
38.5
40.0
40.8
40.3
43.4
37.6
41.6
40.2
37.8
40.0
40.0
38.7
39.5
40.4
39.9
43.2
36.6
41.2
40.6
37.2
39.3
39.7
37.3
39.5
41. 1
40.6
44.0
37.6
41.3
41.6
37.0
39.4
40.1
37.2
39.7
41.7
41.5
44.7
38.1
41.9
42.6
37.0
39.5
39.9
37.5
39.6
41.8
40.7
44.7
40.4
41.6
43.1
37.4
39.1
39.5
37.2
39.6
41.4
40.6
44.2
40.1
41.4
41.9
38.9
39.0
39.2
37.7
39.0
42.0
41.4
44.2
41.3
41.8
41.7
39.1
37.7
37.9
36.0
39.2
41.5
M2. 1
43.2
' 40. 1
41.3
MO. 7
39.4
38.2
' 38. 3
39.1
41.4
M3.2
42.9
37.2
40.9
'39. 9
'38.3
38.2
38.4
'37.2
'39.3
Ml. 3
41.6
43.4
37.9
41.0
40.1
'39.2
'38.3
38.5
37.0
36.7
36.4
37.3
37.7
37.7
38.9
37.0
37.6
36. 5
37.7
36.4
36.9
36.0
36.8
36.6
37.4
34.8
35.4
r
36.1
36. 2
' 35. 6
35.8
'36.0
36.9
37.3
35.9
43.1
44.0
37.9
36.4
43.0
43.9
38.4
36.3
43.3
44.0
37.8
36.0
43.0
44.1
37.3
35.2
43.0
44.0
37.4
34.7
43.1
44.2
36.9
34.6
43.2
44.5
37.3
35.3
43.3
44.4
36. 0
32.4
42.7
43.7
' 36. 7
'34.1
43.0
43.8
35.7
34.2
42.9
44.0
35.5
35.4
M2. 8
44.0
38.7
35.4
40.4
41.2
40.7
40.6
40.5
41.1
40.2
39.3
39.3
38.6
35.7
39.9
41.3
40.3
40.3
40.1
41.3
40.8
39.4
39.4
39.1
36.0
40.5
41.5
40.8
40.5
40.4
41.6
41.7
39.3
39.1
38.9
36.4
40.2
41.5
40.9
40.5
40.3
41.1
40.7
37.8
37.2
39.0
36. 7
40.1
41.5
41. 1
41.1
40.6
40.3
40.4
37.4
36.7
38.8
36. 5
40.0
41.4
41.0
40.8
40.5
40.7
40.0
38.2
37.8
38. 6
36. 0
40.0
41.5
41.0
41.4
41.2
40.5
40.2
38.1
37.9
38.9
36.0
40.1
41.0
40.6
41.1
40. 6
39.8
39.1
37.8
37.3
38.8
36. 2
40.0
41.5
40.8
41.1
40.7
39.0
37.8
35.5
34.4
' 38. 9
' 36. 3
'38.7
36.2
MO. 1
41.4
40.4
40.8
40.7
39.6
38.9
35.9
34.5
Miscellaneous employment data:
239,117
Federal and State highways total§
number
66, 668
Construction (Federal and State)
do
116,321
Maintenance (State)
do
Federal civilian employees:
2,370
United States
thousands
245
Washington, D. C., metropolitan area. .do
Railway employees (class I steam railways) :
1,229
Total
thousands. .
Indexes:
117.1
Unadjusted
1935-39-100
121.8
Adjusted
do .
r
191
146
214
90
351
228
186
143
209
' 87
'f 335
214
188
144
214
90
341
221
184
142
-204
'84
'334
' 216
v 180
r
p335
2. 171
219
PAYROLLS
Manufacturing production-worker payroll index,
unadjusted (U. S. Dept. of Labor). .1947-49 = 100..
144. 2
LABOR CONDITIONS
Average weekly hours per worker (U. S. Dept. of
Labor) :
All manufacturing industries
hours
Durable-goods industries
do
Ordnance and accessories ...
do
Lumber and wood products (except furniture)
_-.
.
hours .
Sawmills and planing mills
do
Furniture and
fixtures
do
Stone, clay, and glass products
do
Glass and glassware, pressed or blowm.do
Primary metal industries
do
Blast furnaces, steel works, and rolling
mills
hours
Primary smelting and refining of nonferrous
metals
_.
..
hours
Fabricated metal prod, (except ordnance, machinery, transportation equipment) .hours _ .
Heating apparatus (except electrical) and
plumbers' supplies
_
hours
Machinery (except electrical) _
do
Electrical machinery
do
Transportation equipment.
do
Automobiles
do
Aircraft and parts
do
Ship and boat building and repairs do
Railroad equipment
do
Instruments and related products. _
do_
Miscellaneous mfg. industries do.
Nondurable-goods industries
Food and kindred products
Meat products
Dairy products
..
Canning and preserving
Bakery products _ _ _
Beverages .
_
Tobacco manufacturesTextile-mill products
Broad-woven fabric mills
Knitting mills
.
._
.
do
do
do
do
do
do
do
do
do
do
do
Apparel and other finished textile products
hours ..
Men's and boys' suits and coats ._
do
Men's and boys' furnishings and work
clothing
_
hours
Women's outerwear. . ...
do
Paper and allied products
do
Pulp, paper, and paperboard mills do
Printing, publishing, and allied industries
ii ours -.
Newspapers..
_
do
Commercial printing- _ __
do
Chemicals and allied products
do
Industrial organic chemicals
do
Products of petroleum and coal
do
Petroleum refining
do._
Rubber products
.. _
do
Tires and inner tubes
do
Leather and leather products
do
Footwear (except rubber) _ _
_
do
' Revised.
p Preliminary.
§Total includes State engineering, supervisory, and administrative employees not shown separately.
r 40. 9
MO. 8
41.6
r
38. 6
' 39. 5
41.4
41.0
r 37. 6
' 40. 2
41.2
40.1
40.8
40.3
'39.1
'37.8
' 36. 0
'34.6
r
r
40.2
40.8
40.4
p 39. 4
MO. 1
p 39. 9
' 40. 5
p
40.8
P
MO. 7
40.7
P
39.0
'39.7 "~p
39. 6
39. 7
39. 2
39." 8 ~
p 40. 0
Ml.O
p 39. 0
p 40. 6
p 40. 0
P39.8
p 38. 5
P 40. 5
» 37. 3
p 37. 2
P34.6
P42.6
'39.4
p 38. 5
37. 5
40.6
Ml.l
Ml. 5
40.7
p 40. 9
' 40. 6
40.6
r
39 1
»39.8"
37.3
'37.7 " " ^ 3 7 . 9"
37.2
SURVEY OF CURRENT BUSINESS
March 1954
Unless otherwise stated, statistics through
1952 and descriptive notes are shown in the
1953 Statistical Supplement to the Survey
S-13
1954
1953
January
February
March
April
1
May
June
July
August
September
October
November
December
January
EMPLOYMENT AND POPULATION—Continued
LABOR CONDITIONS— Continued
Average weekly hours per worker, etc. — Continued
Nonmanufacturing industries:
Mining:
MetaL.
_ _
--hours
Anthracite
do
Bituminous coal-. . _. . ..
-do _.
Crude-petroleum and natural-gas production:
Petroleum and natural-gas production
hours -_
Nonmetallic mining and quarrying
do
Contract construction
do _ .
Nonbuilding construction
do
Building construction.
do _.
Transportation and public utilities:
Local railways and bus lines.
-..do. Telephone
__
do ..
Telegraph
do
Gas and electric utilities
do
Wholesale and retail trade:
Wholesale trade.
_ . ..
-do__
Retail trade (except eating and drinking
places) _ - _ - . _ _ . . _ ..hours _
General-merchandise stores
do
Food and liquor stores
do
Automotive and accessories dealers -..do
Service and miscellaneous:
Hotels, year-round - _ _
do_
Laundries
-do
Cleaning and dyeing plants- ... ._
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
Percent of available workin? time
U. S. Employment Service placement activities:
Non agricultural placements
thousands
Unemployment compensation, State lawrs (Bureau
of Employment Security):
Initial claimsf
thousands
Insured unemployment, weekly average*... .do
Benefit payments:
Beneficiaries, weekly average
do
Amount of payments . ._ _ . _
thous. of dol Veterans' unemployment allowances: d*
Initial claims
thousands Insured unemployment, weekly average
do
Beneficiaries, weekly average
do
Amount of payments
thous of dol
Labor turnover in manufacturing establishments-.
Accession rate.. --monthly rate per 100 employees..
Separation rate, total
do
Discharge
.
do . .
Lay-off
do
Quit...
-.
do
Military and miscellaneous
do
43.0
28.3
35.4
42.9
34.7
32.7
43.1
26.6
33.1
43.2
25.3
32.1
43.8
31.0
34.4
43.7
36.8
36.5
42.7
34.1
34.4
44.0
25.2
37.3
44.0
28.5
34.6
'43.2
' 29. 6
36.2
'43.3
25.5
32. 6
43.7
25.8
33.5
41.2
42.8
37.2
38.5
36.9
40.5
43.2
37.4
38.9
37.1
40.7
44.1
37.1
38.3
36.8
40.8
44.8
37.3
39.0
36.9
41.2
45.2
37.9
40.0
37.3
40.1
45.7
38.6
41.9
37. 7
41.4
45.4
38. 1
41.7
37.1
41.7
45.9
38.6
42.5
37.6
40.7
45.0
36.9
39.9
36.1
'40.3
' 45. 9
' 38. 6
r 42. 2
'37.7
41.3
44. 1
'37. 1
' 39. 5
'36.5
40.1
43.8
36.8
39.4
36. 2
44.5
38.6
41.6
41.7
44.8
38.3
41.5
41.2
44.9
38.2
41.6
41.2
45.3
38.3
41.6
41.1
45.7
38.7
42.4
41.2
45.6
39.0
42.0
41.5
45.1
39.0
42.0
41.7
45.0
38.7
42.0
41.5
45.0
39.4
42.1
41.8
'44.6
38. 6
'42.1
'41.5
'44.1
38.9
' 41. 6
' 41. 5
44.3
38.5
41.4
41.5
40.4
40.5
40.4
40.3
40.3
40.4
40.5
40.4
40.4
40.6
40.5
40.8
39.3
35.0
39.2
45.3
39.2
34.7
39.1
45.0
39.2
34.7
38.9
45.0
39.1
34.8
38.8
44.9
39.0
34.7
38.7
45.0
39.4
35.4
39.3
44.9
39.9
36.2
39.9
44.9
39.8
35.8
39.9
44.6
39.1
34.8
39.2
44.3
'38.9
' 34. 6
'38.3
'44.6
'38.8
34.8
38.4
44.4
39.3
36. 3
38.5
44.7
42.4
41.0
40.2
42.3
40.5
39.4
42.1
40.6
40.2
42.5
40.8
40.5
42.1
41.5
41.9
42.0
40.9
41.3
42.2
40.1
39.2
42.3
39.9
38.9
42.0
40.2
40.0
'42.3
' 40. 1
40.1
'42.3
40.0
39.4
42 5
40. 6
40.1
350
200
350
120
450
180
500
275
525
270
500
250
475
260
450
230
375
110
350
190
250
100
200
80
250
80
500
250
1, 250
. 15
550
200
1,000
.12
650
230
1,100
.12
700
350
2,500
.27
750
370
3,000
.34
725
400
3.750
.40
700
410
3,000
.30
675
400
2,800
.31
600
210
1,550
.17
550
250
1. 450
.15
450
185
1, 500
. 18
400
170
1, 400
. 15
400
150
1,000
.12
474
455
521
553
577
612
574
572
605
544
433
378
353
1,035
1, 156
733
1,084
783
1,014
831
961
777
889
800
833
977
861
792
816
814
779
914
840
1, 235
1, 115
1,616
1, 509
1,749
2, 044
953
94, 360
956
86, 827
930
92, 308
840
82, 990
772
72, 144
734
72, 033
675
69, 175
679
64, 579
651
65, 300
656
66, 104
809
78, 979
1,124
120, 780
1, 592
158. 418
20
29
29
3, 271
16
34
36
3,667
15
34
39
4, 405
13
29
34
3,888
13
25
29
3,142
16
25
3,087
17
27
28
3,322
15
27
30
3, 235
14
24
28
3,046
16
23
24
2, 600
24
31
32
3, 096
33
45
47
5, 043
39
64
68
6, 585
4.4
3.8
.3
.9
2.1
.4
4.2
3.6
.4
.8
2.2
.4
4.4
4.1
.4
.8
2.5
.3
4.3
4.3
.4
.9
2.7
.3
4.1
4.4
.4
1.0
2.7
.3
5.1
4.2
.4
.9
2.6
.3
4.1
4.3
.4
1.1
2.5
.3
4.3
4.8
.4
1.3
2.9
.3
4.0
5.2
.4
1.5
3.1
.3
3.3
4.5
.4
1.8
2.1
.3
2.7
4.2
.3
2.3
1.5
.3
'2.1
'4.0
.2
' 2. 5
1. 1
.2
"2.8
p 4. 1
P 2! 5
P 1.1
v. 3
WAGES
Average weekly earnings (U. S. Department of
Labor) :
All manufacturing industries
dollars
71.34
71.17
71.93
71.63
71. 40
71.63
71.33
71.73
71.42
71.69
71.60
' 71. 96 " 70. 92
Durable-goods industries
do
76.91
77.15
77.42
77.52
77. 38
77.19
76.70
77.14
' 77. 49
77.27
76.73
' 77. 52 » 76. 59
Ordnance and accessories
___do__.75. 85
77.38
78.88
76.52
77.46
78. 25
77.87
' 78. 94
78.12
76. 42
79.13
' 77 97 " 77. 41
Lumber and wood products (except furniture)
dollars ._
63.09
63.96
64.21
65. 19
67.48
66.10
66.34
66. 33
' 67. 08 ' 64. 96 ' 63. 99 f 61. 78
66.67
Sawmills and planing mills
do
62. 47
63.34
67. 16
63.43
65.61
64.71
65.85
67. 06
' 67. 40 ' 64. 96
67.40
64. 87
T
Furniture and
fixtures
do
62.51
62.67
62.73
63.65
62. 58
63. 19
60.89
' 64. 12
62.58
63. 34
62.78
63. 90
Stone, clay, and glass products __
do
68.21
69.29
70.28
70.21
70.69
70.86
70.58
' 72. 10 ' 71. 05 ' 71.63
71. 51
71.10
p 69! 38
Glass and glassware, pressed or blown
dollars _ _
64.15
66.23
67. 80
68.40
67. 89
68. 46
67. 08
68. 46
69. 17
69. 08
70. 13
69. 42
Primary metal industries
do
83.21
84.65
83.22
84.23
83.84
84.87
85. 07
85. 63
85.28
' 83. 82 ' 82. 59 ' 82. 18 P 82. 39
Blast furnaces, steel works, and rolling mills
dollars _.
89. 01
85.89
85.89
87. 53
84. 63
86.72
89.76
90.20
' 88. 04 ' 86. 37
90.80
84. 46
Primary smelting and refining of nonferrous
metals
dollars
79.61
79.65
79. 65
79.46
80. 10
79.46
80. 34
81.16
84. 67
' 82. 39 ' 83. 18
82. 57
Fabricated metal prod, (except ordnance, machinery, and trans, equip.)
dollars. 76.74
76.80
77.59
77.23
77.04
77.28
76.41
76. 59
75.70
^77.23
76.
67
78. 02
" 76. 33
Heating apparatus (except electrical) and
plumbers' supplies ._
dollars
72.90
74.21
74.21
74.48
73. 31
72. 98
72.98
72.80
71. 76
' 74. 56 ' 71. 55
73.
05
Machinery (except electrical)
do
83.03
82.99
84.05
83.46
82.88
82.29
81.73
81.93
82.37
' 83. 58
82.78
' 83. 80 P 82. 00
Electrical machinery
do
71.72
71.28
72.21
71. 86
70. 99
71.40
70. 58
71. 63
71.69
' 71.51
71.73
'71.96
p 70. 20
Transportation equipment
do
85.06
85.69
85.70
85.49
84.67
85. 70
84.86
85. 70
'
85.
89
84.23
'
84.
63
'
85. 88 p 86. 88
Automobiles
do
86.94
87.99
88.83
88.20
87. 15
89.23
87.91
88.58
86.58
' 88. 13
' 86. 40
87.23
Aircraft and parts
do
85.14
85.73
83.16
84.18
82.57
81.99
82.59
83. 60
83.21
84.03
84. 45
85. 07
Ship and boat building and repairs.-.do
76.03
76.60
78. 79
80.19
80.19
79.40
80.58
80.98
78.49
' 79. 90
78. 45
82.37
Railroad equipment...do
79.98
79.37
81.41
81. 61
79.79
81.20
77.99
78. 36
80.94
'80.11
'81.77
82.
76
Instruments and related products
do
73.39
73.57
73.74
72.10 !
73.22
73.87
71.86
72.98
74.16
74. 52
' 74. 93 ' 75. 71 P 72. 40
Miscellaneous mfg. industries
do
64.12
64.17
t\ K i n
rtQ QA
64. 21
63 80
t\9 3%
64.43
64.74
K3 74
1
Revised.
* Preliminary.
tRevised series Beginning with the February 1954 SURVEY data have been revised to exclude transitional claims and, therefore, more closely represent instances of new unemployment
^
• ComPlle(l by Jhe u: *>> Department of Labor, Bureau of Employment Security. Data for insured unemployment for continental U S (excluding Alaska) have been s i b s i
t f f r
tuted for the series mi number of continued claims filed. The insured unemployment series is derived by adjusting the number of weeks of Snempioym^t for^he lag be tween the we" k o f
SURVEY OF CURRENT BUSINESS
S-14
Unless otherwise stated, statistics through
1952 and descriptive notes are shown in the
1953 Statistical Supplement to the Survey
March 1051
1953
January
February
March
April
May
June
1954
July
August
September
October
November
December
January
EMPLOYMENT AND POPULATION—Continued
WAGES—Continued
Average weekly earrings, etc.— Continued
All manufacturing industries — Continued
Nondurable-goods industries
dollars
Food and kindred products
___do
Meat products
do_~
Dairy products
do
Canning and preserving
do
Bakery products
do
Beverages
do
Tobacco manufactures
do _ _
Textile-mill products
_ _ - -do._ _
Broad-woven fabric mills
do _ .
Knitting mills
do
Apparel and other finished textile products
dollars -IVTen's and boys' suits and coats
do
Men's and boys' furnishings and work
clothing
dollars
Women's outerwear
do
Paper and allied products
do
Pulp, paper, and paperboard mills _ ^ _ d o
Printing, publishing, and allied industries
dollars ..
Newspapers
do
Commercial printing
do
Chemicals and allied products
do
Industrial organic chemicals
do
Products of petroleum and coal
do
Petroleum refining
do
Rubber products
do
Tires and inner tubes
do
Leather and leather products .
do
Footwear (except rubber)
do
Non manufacturing industries:
Mining:
Metal
do
Anthracite
do
Bituminous coal
do
Crude-petroleum and natural-gas production:
Petroleum and natural-gas production
dollars- .
Non metallic mining and quarrying
do
Contract construction,. ._
do. Nonbuilding construction
do
Building construction
_
. do. ..
Transportation and public utilities:
Local railways and bus lines
do
Telephone
do
Telegraph
do
O.ns and electric utilities
do
Wholesale and retail trade:
Wholesale trade
do
Retail trade (except eating and drinking
places)
dollars
General-merchandise stores
do
Food and liquor stores
do
Automotive and accessories dealers. _ _ d o
Finance, insurance, and real estate:
Banks and fru^t companies
do
Service and miscellaneous:
Hotels, vear-round
-- - do _
Laundries
do
Cleaning and dveing plants
_
do
Average hourly earnings (IT. S. Department of
Labor) :
All manufacturing industries
dollars
Durable-goods industries^ _
_
do
Ordnance and accessories
do
Lumber and wood products (except furniture)
-_.
..dollars, .
Sawmills and planing mills
do
Furniture and
fixtures
do
Stone clav and glass products
do
Glass and glassware pressed or blown
dollars ...
Primarv metal industries
_
do
Blast furnaces, steel works, and rolling mills
dollars. .
Primary smelting and refining of nonferrous
metals
dollars
Fabricated metal prod, (except ordnance,
machinery, transportation equipment)
dollars _
Heating apparatus (except electrical) and
plumbers' supplies
dollars _ .
Machinery (except electrical)
do
Electrical machinery
do
Transportation equipment
. do
Automobiles
do
Aircraft and parts
do
Ship and boat building and repairs. . do
Railroad equipment
do
Instruments and related products.
do
Miscellaneous mfg. industries
do
Nondurable-goods industries _ _ _.
Food and kindred products
Meat products _
Dairy products .
Canning and preserving
Bakery products _ _
.. _
Beverages
r
Revised.
* Preliminary.
do
__do___
do
. do
do
_do
do
62.88
65. 35
74. 23
67.45
52.72
62.58
70.93
46.59
54.94
54.54
49.02
62. 88
64. 71
70.00
67.61
53.20
63.04
71.51
45. 39
54.94
54.27
50.05
63.60
65.28
71. 33
65.97
53.02
63. 65
71.96
47. 63
54.80
53. 60
50.31
62.81
64.64
70.62
66.10
51. 61
63. 45
73.49
47.62
53. 84
53.20
48.49
63.20
48.81
54.96
49.98
57.30
49.76
59.13
47.73
56.78
47.09
40.66
54.93
71.55
77.00
41.31
55.69
71.81
77.26
41. 86
54.45
72.31
77.44
41.58
51.84
71.81
77.62
41.03
50. 34
83. 21
86.38
82.42
72.51
77.33
88.10
91.94
78.09
89.24
53. 06
51.48
83.76
87.82
82.19
73.10
77. 38
87.45
91. 03
79.30
91.80
53. 19
51.61
85.24
89.28
83.84
73.87
79.15
87.89
91.71
80.29
93. 83
53.84
52.00
85.19
91.36
84.02
74.29
79.76
88.29
91.88
79.32
91.58
51. 79
49.10
85. 80
92. 85
83.81
75. 12
79. 73
84.71
70. 75
87.79
84. 08
86.75
81.42
84.48
65.70
81.76
84.67
61.99
79.61
86. 29
77.19
89.40
70.19
88.16
83.93
88.93
88.29
70.85
89.01
85.19
89.78
88.73
72.77
88.67
84.26
89.79
88.13
74.37
89.15
85.02
90.04
88.99
76.01
63. 69
73. 63
78.40
76.61
63.58
73.46
77.46
76.78
63. 03
73. 63
77.87
69.08
69.66
53. 45
38. 85
57.62
71.12
63.50
67. 23
' 77. 89
68. 26
r 54. 54
65. 67
r 77. 33
48.07
52. 33
'r 50. 94
49. 26
' 64. 00
' 68. 15
76. 96
67.78
68. 57
50. 22
53. 06
66. 01
' 65. 85
75. 79
' 75. 81
r 47. 49
' 48. 61
52.33
' 52. 47
50.82
51. 07
48.84
' 48. 73
* 63. 53
p 68. 04
r 49. 10
58. 64
* 48. 06
57. 64
' 48. 96
59. 04
P 47. 75
' 41. 84
51. 83
' 73. 96
' 79. 72
40.70
50. 96
73.79
80.08
40.47
53. 81
' 73. 62
80.52
63.52
67. 14
74.29
68.39
51.44
65. 36
79. 66
46.99
53.72
53.47
48.38
63.76
66. 88
72.85
69.73
54. 14
65. 73
80.60
47.87
53. 18
52. 93
47. 62
63. 76
65.83
72.67
68.51
54.14
65.41
79.19
47.46
53. 04
52.14
48.63
63. 57
48.05
58.67
48.24
57.41
49.78
60.59
46. 98
57. 35
41.51
50.66
72.41
78.68
40. 96
52. 59
73.44
80.10
41.78
54.72
73.61
79.92
40.68
85. 36
92.35
84.00
75.35
80.36
88.94
91.94
78.55
89.20
52. 33
49.90
84.92
90.36
83.60
76. 78
81. 59
92.32
96.00
78.98
90. 45
51.82
49. 65
85.97
90.36
83.81
75. 85
80.79
92.06
95. 00
76.81
87. 58
51.79
49.24
86. 91
45.41
'
r
r
'
86.96
91.63
91.25
88.82
83.89
84.97
92.40
61.49
92.88
94. 16
' 90. 29
70.40
r 73. 41
86. 15
' 89. 78
75. 94
90. 58
87. 20
91.01
87.02
76. 78
92. 25
91.34
91.99
92.74
77.63
91.82
92.16
91. 64
93.83
79.41
94.18
96. 05
93. 62
92.39
79.20
90.77
90.97
90.97
' 90. 27
80.33
r 96. 11
'r 97. 48
95. 76
77.92
63. 20
73. 63
78.50
79. 06
64. 63
75. 90
79. 52
78.89
65. 13
75. 60
80.22
78. 93
64. 35
74. 76
81.32
78. 75
64.24
74.76
81.34
79.65
r
82. 76
69.89
70.12
70. 93
71.10
72. 09
71.91
72.32
72. 67
53. 70
38.17
57.48
71.55
53. 70
37. 82
57. 57
72.90
53.96
37.93
57.81
74.09
54. 21
38. 52
57. 66
55. 16
39. 65
58. 95
74.98
56. 26
40. 54
60. 25
74.98
56. 12
39,74
60. 25
74.48
5*. 52
38. 98
60. 37
73. 10
r 55. 24
' 38. 75
* 58. 98
r
74. 48
r
54. 29
54.61
54. 40
54.47
54.65
54.28
54.90
55. 00
55. 03
' 55. 36
' 55. 46
55. 57
37. 31
39. 36
45.02
37. 65
38.88
43.73
37. 47
39. 38
45.02
37. 83
39.58
45. 36
37.89
40. 67
48. 19
38.22
40.08
47.08
38.40
39.30
44.69
38.49
39. 10
44.35
39. 06
39. 80
' 39. 76
' 39. 70
' 46. 92
r 39. 34
39. 60
45.70
39. 95
40.19
46. 92
1.74
1.84
1.85
1.74
1.85
1.86
1.75
1.85
1.88
1.75
1.86
1.88
1.76
1.86
1.89
1.76
1.87
1.91
1.77
1.88
1.89
1.77
1.88
1.91
1.79
1.90
1.93
1.78
-1.89
1.93
1.79
1.89
1.92
1.79
'1.90
1.93
r 1 . SO
p 1.91
f 1.94
1.55
1.55
1.51
1.68
1.56
1.56
1.51
1.69
1.57
1.57
1.53
1.70
1.59
1.59
1.53
1.71
1.62
1.62
1 . 53
1.72
1.63
1.63
1.53
1.72
1.63
1.63
1.53
1.73
1.63
1.64
1.53
1.74
1.65
1.66
1. 55
1.76
' 1.64
1.64
1.56
1.75
r 1.62
1.62
1.56
1.75
' 1. 58
1.59
1.57
' 1 . 7»i
" 1.56
1.62
2.03
1.66
2.01
1.67
2.02
1.71
2.02
1.72
2.03
1.71
2.05
1.72
2.08
1.72
2.08
1.76
2.13
1.74
'2.08
1.78
'2.07
1.78
' 2. 07
2.15
2.10
2.10
2.10
2.11
2.14
2.20
2.20
2.27
••2.19
'2.17
2. in
1.90
1.91
1.91
1.91
1.91
1.93
1.95
1.97
2.05
1.99
1.89
1.98
1.81
1.82
1.83
1.83
1.83
1.84
1.85
1.85
1.80
1.87
1.87
1.88
p 1.88
1.80
1.93
1.72
1.81
1.94
1.73
1.81
1.95
1.74
1.83
1.95
1.74
1.81
1.95
1.74
1.82
1.95
1.75
1.82
1.96
1.76
1.82
1.96
1.76
1.84
1.98
1.77
'1.85
1.99
' 1.77
r 1.83
1.84
'2.00
' 1.79
p 2. 00
p 1.80
2.03
2.10
1.98
1.92
1.95
1.76
1.55
2.05
2.11
1.98
2.00
1.97
1.76
1.56
2.05
2.11
1.99
2.01
2.01
1.76
1.56
2.06
2.12
1.98
2.02
2.03
1.75
1.56
2.05
2.10
1.98
2.02
2.02
1.76
1.57
2.08
2.15
1.99
2.01
2.03
1.78
1.56
2.08
2.16
1.99
2.04
2.01
1.77
1.57
2.08
2.15
2.00
2.05
2.03
1.78
1.57
2.09
2.17
2.01
2.06
2.07
1.80
1.58
2.10
'2.16
2.02
2.07
2.07
1.80
1.59
2.10
'2.16
2.03
2.07
2.07
1.81
1.60
' 2. 11
2.17
2. 04
2.08
2. 09
1.82
' 1. 61
p 2. 14
1.58
1.59
1.78
1.54
1.38
1.53
1.76
1.58
1.59
1.75
1.54
1.40
1.53
1.77
1.59
1.60
1.77
1.52
1.41
1.53
1.79
1.59
1.60
1.77
1. 53
1.41
1. 54
1.81
1.60
1.61
1.77
1.53
1.39
1.55
1.84 !
1.60
1.61
1.79
1.53
1.35
1.56
1. 87
1.61
1.60
1.79
1.56
1.34
1.58
1.87
1.61
1.59
1.79
1.55
1.35
1. 58
1.89
1.63
1.60
1.84
1.58
1.34 j
1.60
1.94 1
1.63
1.65
1.91
1. 58
1.35
' 1. 61
1.90
' 1. 63
'1.65
1.85
1.58
1.40
1.61
1.89
* 1.65
i' 1. 68
1
66. 17
71.86
67. 32
52.26
64.02
76. 54
46.99
53.98
53.73
48.36
56. 93
72.24
77.44
89.60
92. 57
78.18
91.30
51. 61
48.81
84.97
74.70
67.20
76.18
69. 84
55. 34
66. 88
SO. 90
46.92
51. 65
50. 79
46. 80
49. 25
74.30
80. 85
93.03
84.80
77. 61
84. 05
94.12
r
r
'
r
'
'
97.68
74. 88
83. 54
48.99
68.16
77.46
46.40
63. 73
68. 31
r 82. 51
86. 75
92. 93
85. 63
75. 81
80.60
91.80
94.71
75. 07
83. 16
49. 68
45. 67
79. 39
66.01
'r 77. 04
82. 17
1.62
1.62
1.85
1.58
1.36
1.59
1.90
' 86. 30
' 92. 31
r 85. 41
76.59
81. 20
92.62
96.46
76.03
r
85. 58
' 49. 54
r
45. 54
r
r
r
r
90. 93
63. 24
81. 17
92.21
63. 73
82. 75
90. 23
75.34
92. 00
89.83
92. 31
r 78. 06
68.08
'r 76. 13
82. 59
78.41
65. 84
75. 76
82. 17
72.50
72. 62
55. 10
38.98
59.52
74.15
54. 23
39. 57
59. 29
72. S<>
1.99
1.78
p 73. 27
' 88. 65 r> 87. 01
96. 75
86. 88
' 77. 19
p 76. 45
81.81
•• 91. 76 ~P92.~84
95.82
r
75. 46 ~~~v 77.7>r
82.43
' 51. 65 "Vsi'so"
49.10
76.29
rr 92. 38
90. 06
»• 92. 71
r 94. 16
p 47. 74
P 50. 96
p 1. 56
p 2. 07
p 1.81
p 1.62
SUKVEY OF CUREENT BUSINESS
March 1954
Unless otherwise stated, statistics through
1952 and descriptive notes are shown in the
1953 Statistical Supplement to the Survey
S-15
1954
1953
January
February
March
April
May
June
July
August
September
October
November
December
January
EMPLOYMENT AND POPULATION—Continued
WAGES—Continued
Average hourly earnings, etc. — Continued
All manufacturing industries— Continued
Nondurable-goods industries — Continued
Tobacco manufactures __
dollars _
Textile-mill products
do
Broad-woven fabric mills
do
Knitting mills
do ___
Apparel and other finished textile products
dollars _ _
Men's and boys' suits and coats
do_ _ _
Men's and boys' furnishings and work
clothing
dollars .
Paper and allied products
do
Pulp, paper, and paperboard mills- do
Printing, publishing, and allied industries
dollars _ _
Newspapers
do
Commercial printing
do
Chemicals and allied products _ - _ do
Industrial organic chemicals
do
Products of petroleum and coal _ . do
Petroleum refining
do
Rubber products
_ _ __ do
Tires and inner tubes
do
Leather and leather products
do
Footwear (except rubber).
do
Nonmanufacturing industries:
Mining:
Metal
do
Anthracite
do
Bituminous coal
do
Crude-petroleum and natural-gas production:
Petroleum and natural-gas production
dollars ._
Nonmetallic mining and quarrying
do
Contract construction
_
_ do
Nonbuilding construction
.do ...
Building construction
_ _ __ _
do
Transportation and public utilities:
Local railways and bus lines
_ _ _ -do
Telephone __do
Telegraph
- _ do
Gas and electric utilities
do
Whole sale and retail trade:
Wholesale trade
do
Retail trade (except eating and drinking
places)
dollars
General-merchandise stores _
do
Food and liquor stores
do
Automotive and accessories dealers __do
Service and miscellaneous:
Hotels, year-round do
Laundries-- ..
do
Cleaning and dyeing plants.
do
Miscellaneous wage data:
Construction wage rates (ENR):§
Common labor
dol. per hr
Skilled labor
. ..
do_
Farm wage rates, without board or room (quarterly)
dol. per hr .
Railway wages (average, class I)
do
Road-building wages, common labor _
do._
1.21
1.37
1.35
1.29
1.23
1.37
1.35
1.30
1.26
1 37
1.34
1.30
1.28
1 37
1.34
1.30
1.27
1 37
1 34
1 30
1.27
1 36
1 34
1 29
1.28
1 36
1 34
1.28
1.22
1 36
1 33
1 29
1.20
1 37
1 34
1 30
1.22
1 37
1 33
1.31
1.24
1 37
1 33
1 31
r 1.24
1.33
1.51
1.34
1.52
1.32
1.52
1.29
1.51
1.29
1 51
1.32
1 59
1.34
1.56
1.36
1 62
1.35
1 62
' I. 36
1 62
1. 35
1 61
' 1. 36
1 60
1.09
1 53
1.66
1.75
1.09
1 53
1.67
1.76
1.09
1 50
1.67
1.76
1.10
1 44
1.67
1.76
1 10
1 43
1 68
1.76
1. 11
1 46
1.68
1.78
1.11
1 52
1.70
1.80
1 12
1 55
1 70
1.80
1 13
1 52
1 74
1.85
1 14
1 52
1 72
1.82
1 14
1 49
1 72
1.82
1 14
1 52
1 72
1.83
2. ?.5
2.44
2.17
2.46
2.06
1.77
1.92
2.18
2.48
2.07
1.78
1.94
2.19
2.51
2.09
1.79
1.95
2.20
2.53
2 09
1.81
1 94
2.20
2. 53
2 10
1.82
1.96
2.20
2.51
2.09
1. 85
1.99
2.21
2 51
2 09
1 85
1 99
2.24
2 57
2 12
1 87
2 06
2.23
2 56
2 13
1 84
2 01
••2.23
2 55
r 2. 25
2 58
2 14
«• 1 86
2 01
p 2.26
2.04
1.76
1.90
2.17
2.27
1.90
2.22
1.35
1.31
2.17
2.27
1.92
2.25
1.35
1.31
2.17
2.27
1.93
2.25
1.37
1.33
2.18
2.28
1.93
2.25
1.37
1.32
2.18
2 28
1.94
2 26
1.38
1.33
2.18
2 27
1.93
2 23
1.37
1.32
2.23
2 33
1. 95
2 25
1.36
1.31
2
2
1
2
1
1
24
34
93
24
37
32
2 29
2 401 92
2 21
1 38
1 32
2 25
2 35
1 92
2 27
2 37
1 92
r
p 2 27
r 2 20
r 2 20
r 1 38
1.97
2.50
2.48
1.96
2 50
2.49
1.96
2 47
2.47
1.96
2 45
2.48
1 97
2 49
2.47
1 99
2 49
2.50
2 08
2 46
2 47
2 10
2 44
2 49
2 14
2 47
2 49
2.17
1.64
2.37
2.18
2.41
2.18
1.64
2.38
2.19
2.42
2.18
1.65
2.39
2.20
2.44
2.16
1.66
2.39
2.18
2.44
2.16
1.68
2.39
2.18
2.44
2.17
1.68
2 39
2.18
2 44
2.24
1.71
2 41
2.21
2 47
2
1
2
2
2
2 27
1 76
2 46
2 28
2 52
25
73
44
26
49
r
r 2 13
1 85
r 2 01
1 38
1 32
r
r 2 48
r 2 49
2 31
2 28
r 2 54
p 1.38
p 1 72
p 1 86
p 1 95
p 1 38
2 25
1 72
2 50
2 28
2 55
«• 2 28
1 73
r 2 49
r 2 54
p 1.28
P i 37
2 11
2 47
2 47
2 10
2 09
2 48
2 48
2 24
1 75
r
2 26
2 35
r 1 93
2 21
r 1 37
1 32
r i 32
r 2 49
r
1 37
1 32
1 32
1.71
1.65
1.77
1.88
1.71
1.66
1.77
1.88
1.71
1.65
1.77
1.89
1.72
1.65
1.77
1.91
1.73
1.67
1.79
1.93
1.73
1.67
1.80
1.93
1.75
1.65
1 78
1.95
1 75
1* 66
1 78
1.96
1 77
1 73
1 84
1.98
1.98
1.99
1 77
1 71
1 83
1.98
1.71
1.72
1.73
1.74
1.76
1 76
1 78
1 78
1 79
1 79
1 79
1 78
1.36
1.11
1.47
1.57
1.37
1.10
1.47
1.59
1.37
1.09
1.48
1.62
1.38
1.09
1.49
1.65
1.39
1.11
1.49
1.66
1 40
1.12
1 50
1.67
1 41
1.12
1 51
1.67
1 41
1 11
1 51
1.67
1 42
1 I9
1 54
1.65
1 42
1 42
1 12
1 55
1.67
1 38
1 09
1 54
1 63
.88
.96
1.12
.89
.96
1.11
.89
.97
1.12
.89
.97
1.12
.90
.98
1.15
.91
.98
1.14
.91
.98
1 14
91
98
1 14
93
99
1 16
r 94
99
1 17
r
99
1 16
94
99
1 17
1.817
2.942
1.817
2.946
1.821
2.949
1.824
2.950
1.824
2.955
1 852
2 979
1 877
3 021
1 921
3 062
1 9^1
3 073
1 927
3 085
1 933
3 Q86
1 933
3 086
.89
1.873
1.31
1.902
1.857
.85
1.862
1.40
1.877
1.867
.89
1.861
1.52
1.877
1.883
77
1.895
1 57
1 928
1.908
435
429
478
451
517
535
534
582
574
552
586
620
378
651
2, 189
1 197
1 180
17
373
620
360
619
168, 596
65, 367
35, 557
154, 294
62, 306
30, 806
52,315
26, 880
28
25, 916
21, 354
52,315
21,422
20, 160
763
26, 558
44.5
50.509
25, 437
156
24, 639
21,274
50, 509
20, 688
19, 384
368
25, 885
45.7
1 78
1 71
1 77
1 75
r 1 83
r 1 83
r I 12
1 54
1.67
93
I QAA
3 095
90
1 61
FINANCE
BANKING
Acceptances and commercial paper outstanding:
Bankers' acceptances
mil of dol
Commercial paper
_
_
__ doAgricultural loans outstanding of agencies supervised by the Farm Credit Administration:
Total
mil. of dol_.
Farm mortgage loans, total
.do
Federal land banks
do
Land Bank Commissioner
do._
Loans to cooperatives
do
Short-term credit _ . _
do
Bank debits, total (345 centers) t
New York City
_
6 other centers 9
-- - - - - -
-
do
do
do
487
504
408
696
••145,919
52, 048
31, 660
490
511
468
507
386
720
2,253
1, 128
1, 106
22
365
760
' 129, 163
45, 749
28, 126
r
153, 356
53, 898
35, 339
455
464
333
794
' 145, 567
52, 038
32, 742
417
441
428
408
313
825
2,330
1,156
1,136
20
320
855
' 141,981 r 153, 846
50, 255
66, 623
32, 283
33, 807
319
866
r
312
854
2, 310
1 177
1 157
19
331
802
372
714
147, 957 ' 134, 386 ' 147, 699 ' 149, 606
51, 799
45, 516
54, 888
54,152
32, 683
29, 958
31, 422
31, 778
Federal Reserve banks, condition, end of month:
51, 493
51, 948
50, 558
Assets, total
mil. of doL.
50, 202
50, 389
50, 243
50, 466
49, 994
Reserve bank credit outstanding, total, .do
26, 478
26, 194
24, 927
25, 546
25, 589
25, 414
26, 176
25, 958
1,735
1,014
Discounts and advances
do
1,309
485
732
64
644
343
23, 944
23, 875
United States Government securities. _do
23, 806
23, 880
24, 246
24, 746
24, 964
24, 989
Gold certificate reserves
do
21, 480
21, 790
21, 367
21, 383
21, 356
21, 286
21, 085
20, 993
Liabilities, total
do
51, 948
51, 493
50, 202
50, 558
50, 389
50, 243
50, 466
49, 994
22, 515
Deposits, total
do.
21,770
20, 421
21, 055
20, 976
20, 396
21, 068
20, 623
Member-bank reserve balances
do
20, 611
20, 511
19, 322
19, 740
20, 069
19, 561
19, 607
19, 278
614
Excess reserves (estimated) . _ _ do
715
351
—285
806
102
590
476
25, 638
Federal Reserve notes in circulation
do__
25, 681
25, 560
25, 598
25, 671
25, 831
25, 872
25,983
Reserve ratio
percent. _
45.3
45.3
46.5
45.8
45.8
44.9
46.0
45.0 '
r
Revised.
p Preliminary.
§ Kates as of February 1, 1954: Common labor, <&1.944; skill ed labor, $ 3.095.
f Revised series. Bank debits have been revised to include additional centers an d to represtmt debits t o demand deposits. Data prior to
9 Includes Boston, Philadelphia, Chicago, Detroit, San Fra ncisco, anc : Los Angeles.
515
475
51, 130
26, 252
329
25, 235
20, 933
51, 130
20, 815
19, 309
493
20,033
44.7 1
50, 969
26, 550
413
25, 348
20, 897
50, 969
21, 030
19,460
634
26, 134 !
44.3 '
r
140. 992
50, 470
30, 477
51, 150
26, 133
369
25, 095
21,348
51,150
20, 669
19, 434
347
26, 455
45.3
r
Decemt>er 1952 wil 1 be shown later.
SURVEY OF CURREXT BUSINESS
S-16
Unless otherwise stated, statistics through
1952 and descriptive notes are shown in the
1953 Statistical Supplement to the Survey
March 1954
1953
January
February
March
April
May
June
1954
July
August
September
October
November
December
January
FINANCE—Continued
BANKING— Continued
Federal Reserve weekly reporting member banks,
condition, Wednesday nearest end of month :f
Deposits:
Demand, adjusted
__
mil. ofdol _
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 and guaranteed obligations
do
Notes
_
_ -__
..do
Other securities
do
Loans (net), total
.
do- 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 of banks
.
do. _
Other loans
do
Money and interest rates: cf
Bank rates on business loans:
New York Citv
11
th
,
55, 546
53, 811
51, 802
54, 176
53, 708
52, 820
53, 395
53, 059
52,814
54, 692
54. 376
56, 217
55, 588
56, 112
3, 894
2,362
17, 499
55, 342
3,790
3, 309
17, 622
52, 785
3,828
3,934
17, 698
54, 608
4,241
1, 426
17, 792
54, 185
4,041
1,356
17, 917
54, 263
3,975
2, 469
18, 068
54, 082
3,736
5,292
18, 085
53, 699
3,834
4,639
18, 093
54, 639
3,711
4,434
18, 253
55, 965
3,612
2,346
18, 426
55, 727
3, 685
3,410
18,383
57,817
3,963
2,594
18,718
55. 831
4,093
2, 275
18, 779
16, 528
770
12, 051
39, 626
16, 641
783
11, 863
38, 936
16, 726
777
11, 983
37, 180
16, 799
803
11, 382
36, 864
16, 901
829
11, 734
36, 542
17, 052
826
12, 359
36, 896
17, 074
822
11, 568
40, 225
17, 083
823
12, 056
39, 318
17, 259
804
12, 452
39, 196
17, 374
865
12,773
39, 244
17,311
882
13,062
40, 254
17, 596
932
13, 860
40, 282
17,619
970
12, 948
40, 697
32, 143
3,710
2,458
20, 000
5, 975
7, 483
38, 687
23, Oil
1, 543
31, 478
3, 156
2, 271
20, 123
5, 928
7,458
38, 775
22, 869
1, 459
29, 547
1,701
2,115
19, 881
5, 850
7,633
39, 647
23, 269
1, 561
29, 249
1,583
2, 038
19, 857
5,771
7,615
39, 437
23, 133
1, 540
29, 144
2, 043
1, 850
19, 599
5, 652
7,398
39, 439
22, 690
1,547
29, 501
2,514
2,090
19, 356
5, 541
7,395
39, 649
22, 585
1,719
32, 705
2,855
4,985
19, 425
5, 440
7,520
39, 381
22, 643
1,830
31,797
2,289
4, 705
19, 436
5, 367
7, 521
40, 067
22, 965
1,850
31, 663
2,317
5,522
17, 250
6,574
7, 533
39, 705
23,103
1, 763
31,795
2,388
5,502
17,251
6,654
7,449
40, 294
23, 301
1,663
32, 792
2,394
5. 399
18, 541
6, 458
7,462
40, 268
23. 134
1,877
32, 800
2, 569
5, 303
18,517
6,411
7,482
41,020
23, 380
2,248
32, 989
2,517
4, 764
18,952
6, 756
7,708
39, 963
22, 638
2,180
799
6,120
480
7, 335
795
6,147
708
7, 405
808
6,176
777
7,665
789
6,214
611
7,760
779
6,257
930
7,847
755
6,302
948
7,960
763
6,326
446
7,992
732
6,365
762
8,016
726
6,397
402
7, 935
724
6,438
806
7,983
748
6,449
703
7,978
868
6,481
646
8,019
826
6, 486
541
7,924
2.00
2.71
4.17
2.00
2.71
4.17
3.54
3 31
3.50
3.90
2.00
2.72
4.17
2.00
2.72
4.17
2.00
2.72
4.17
3. 73
3.52
3.71
4.05
2.00
2.74
4.17
2.00
2.79
4.17
2.00
2.86
4.17
3.74
3.52
3.71
4.10
2.00
2.93
4.17
2.00
2.97
4.17
2. 00
2.97
4.17
3 76
3 51
3 79
4 10
2.00
2.97
4.17
2.00
2.97
4.17
1.82
2.31
2.63
2.63
1.88
2.31
2.63
2. 63
1.88
2.36
2. 63
2.63
1.88
2.44
2.90
2.80
1.88
2.68
3.22
3.10
1.88
2.75
3.25
3.13
1.88
2.75
3.25
3.13
1.88
2.75
3.25
3.13
1.88
2.74
3.25
3.13
1.88
2.55
3.25
3.13
1.88
2.32
3.25
3.13
1.88
2 25
3.25
3.13
1.88
2.13
3.25
3. 13
2.042
i 2. 39
2.018
2.42
2.082
2. 46
2.177
2.61
2.200
2.86
2.231
2.92
2.101
2,72
2.088
2.77
1.876
2.69
1. 402
2.36
1.427
2.36
1.630
2.20
1,214
1.97
13, 359
2,537
13,421
2,524
13, 550
2,510
13, 626
2,496
13, 702
2,477
13, 841
2,458
13, 881
2,438
13, 920
2,419
14,014
2,402
14, 056
2,388
14, 141
2.374
14, 442
14, 341
' 2, 360 P 2, 344
25, 674
18, 851
8, 273
5,288
1,403
3,887
25, 504
18, 982
8,480
5,208
1,404
3.890
25, 946
19, 391
8,799
5,217
1, 416
3,959
26, 455
19, 767
9, 111
5,217
1, 435
4,004
27, 056
20, 213
9, 432
5, 272
1,462
4,047
27, 411
20, 635
9, 692
5, 333
1, 493
4,117
27, 581
21, 004
9, 973
5, 351
1,516
4,164
27, 810
21,218
10, 136
5, 362
1,534
4,186
27, 979
21, 347
10, 232
5, 352
1,562
4,201
28, 166
21,486
10,337
5, 366
1.585
4.198
28, 252
21, 586
10, 358
5, 406
1, 604
4,218
'28, 896
21,807
10,289
5, 605
1,606
4,307
28, 125
21,444
10, 084
5, 495
I,. r 87
4,278
15, 678
7,665
4,930
842
2,241
15, 910
7,797
5,031
851
2,231
16. 380
8, 059
5,174
880
2,267
16, 800
8, 286
5,312
906
2,296
17, 222
8,491
5,480
928
2, 323
17, 621
8, 675
5, 633
962
2,351
18, 000
8,818
5,816
988
2,378
18, 205
8,879
5,924
1, 009
2, 393
18, 328
8,893
6, 005
1,029
2,401
18, 439
8,908
6,093
1,041
2,397
18, 495
8,881
6, 147
1,050
2,417
18, 534
8, 856
6,147
1,064
2,467
18,276
8,723
6, 1)62
1,043
2,448
3,173
1,084
832
315
942
3,072
1,023
822
324
903
3,011
974
812
336
889
2, 967
925
807
348
887
2,991
933
809
362
887
3, 014
937
812
373
892
3,004
923
812
386
883
3, 013
931
813
396
873
3,019
943
811
399
866
3,047
957
812
406
872
3, 091
983
826
408
874
3.273
1.068
866
407
932
3,168
1,031
836
400
901
6, 823
2, 143
2, 975
1, 705
6,522
2,118
2,678
1,726
6,555
2,211
2,613
1, 731
6,688
2, 246
2, 682
1,760
6,843
2,294
2, 763
1,786
6, 776
2,197
2,781
1,798
6, 577
2,079
2,705
1,793
6,592
2,131
2,668
1,793
6,632
2,130
2,716
1,786
6,680
2,131
2,811
1,738
6, 666
2,100
2,840
1,726
7,089
2,127
3,249
1,713
6, 681
2, 083
2,893
1, 705
2, 143
1,878
2,975
1,705
2,118
1,887
2,678
1, 726
2,211
1,960
2,613
1,731
2,246
1,984
2,682
1, 760
2, 294
1, 985
2,763
1,786
2,197
1,922
2,781
1,798
2,079
1,830
2, 705
1,793
2,131
1,870
2,668
1,793
2,130
1,857
2,716
1, 786
2,131
1,867
2,811
1,738
2,100
1,798
2,840
1,726
2,127
1,848
3, 249
1,713
2,083
1,824
2,893
1,705
5,232
5,047
51
4,130
842
209
6,300
5,479
43
5,294
856
107
11, 870
10, 502
56
10, 719
993
102
4,044
2,849
54
3,021
880
90
5,140
4,380
51
3,998
922
169
10, 323
9,744
51
9,179
939
155
3,619
' 3, 293
52
2,395
937
235
5,153
4, 475
47
4,011
955
140
6, 402
* 5, 988
50
5,218
981
152
2,894
* 2, 645
51
1,698
1,019
125
5,144
' 4, 605
47
3,947
968
182
5, 403
5, 132
48
4,133
919
304
4,619
4,458
39
3,538
749
293
6, 336
1 , 294
376
3, 465
1,201
5,058
245
343
3,001
1,468
do
,
-,
...
Discount rate (N. Y. F. R. Bank)
do___
Federal intermediate credit bank loans
do
Federal land bank loans
do
Open market rates, New York City:
Acceptances, prime, bankers', 90 days
do
Commercial paper, prime, 4-6 months
do
Call loans, renewal (N. Y. S. E.)
do
Time loans, 90 days (N. Y. S. E )
do
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 savings banks
mil. of doL_
U S postal savings
do
CONSUMER CREDITt
Total short- and intermediate-term consumer credit,
end of month
mil. of dol
Instalment credit, total. _
_
_. _ _ d o
Automobile paper
do
Other consumer-goods paper
. do
Repair and modernization loans
do
Personal loans .
.
do
By type of holder:
Financial institutions, total.
do ..
Commercial banks
- do
Sales-finance companies
do
Credit unions
do
Other
do
Retail outlets, total
Department stores
Furniture stores
Automobile dealers
Other
. __
_
__ .
Noninstalment credit, total
Single-payment loans
Charge accounts __
Service credit- _
By type of holder:
Financial institutions
Commercial banks
Retail outlets
Service credit
_
FEDERAL GOVERNMENT
Budget receipts and expenditures:
Receipts, total
Receipts, net 9
Customs.
Income and employment taxes
Miscellaneous internal revenue
A.11 other receipts
do
do.
do
do
do_._
__
_
do_
do
. do
._
do
_
-
do
do
do
do
FINANCE
mil. of dol
do
do
do.
do
do
r
7,988
6,241
' 5, 948 r 6, 066
' 5, 462
6,187
6, 362
5, 595
5,723
'•6,052
Expenditures, total
_
_
do
206
354
1,882
237
560
179
563
372
311
235
Interest on public debt
do
349
327
350
364
351
369
349
354
340
351
Veterans Administration
do
3,519
4,056
3,
787
3, 789
3,891
3, 501
3,890
3,746
3,632
3,647
National defense and related activities
do
r
1,701
' 1, 121
I, 556
1,434
1,502
1,966
1,749
' 1, 873 r 1,392
1, 471
All other expenditures
do.
r
Revised.
* Preliminary.
1
Beginning January 1, 1953, includes fy$ percent bond of March 15, 1956-58, and 23/8 percent bond of June 15, 1958.
t Re vised beginning 1952 to expand the coverage of the series by making a net addition of 8 banks. Revisions for January-May 1952 will be shown later.
cfFor bond yields see p. S-19.
JData beginning 1952 have been revised in accordance with recent benchmark materials; revisions for January-September 1952 will be shown later.
9 Appropriations of receipts to the Railroad Retirement Account are deducted beginning July 1953.
r
r
5, 333
164
349
3,540
1, 280
r
r
r
SUKVEY OF CURRENT BUSINESS
March 1954
Unless otherwise stated, statistics through
1952 and descriptive notes are shown in the
1933 Statistical Supplement to the Survey
S-17
1954
1953
January
February
March
April
May
June
July
August
September
273, 206
271, 145
230, 157
40, 988
2,061
272, 937
270, 744
229, 785
40, 958
2,193
October
November
Decsmber
273 386
27l] 291
230, 403
40, 888
2,095
275, 209
273, 128
232, 115
41, 013
2,081
275,168
272,881
231 684
41, 197
2,287
January
FINANCE—Continued
FEDERAL GOVERNMENT FINANCE— Con.
Public debt and guaranteed obligations:
Gross debt (direct), end of month, total
mil. of dol_.
Interest bearing total
do
Public issues
do
Special issues
do_ ._
Nonintorest bearing
_ do
Obligations guaranteed by U. S. Government,
end of month
_ mil. of dol _
U. S. Ravings bonds:
Amount outstanding, end of month __ do
Sales series E through K
do
Redemptions
_
__ _ do
267, 402
265, 323
226, 226
39, 097
2,079
267, 584
265, 489
226, 187
39, 302
2,094
48
50
51
52
58, 368
414
368
58, 468
440
430
58, 509
382
426
63
63
64
66
74
76
75
57, 977
370
'542
57, 962
402
541
57, 940
371
480
57, 882
368
514
57, 860
384
489
57, 889
368
438
57, 934
423
514
57 918
561
704
do
do
3,224
3 162
3 381
do
do
48
1,107
2,069
51
1 131
1 979
63
1 243
2 075
do
401
26, 938
415
32 576
424
33 335
do
Foreign loans
\11 other
Commodities supplies and materials
do
do
do
Other securities
do
U S Government 'nterest
52
58,014
371
-968
272, 669
270, 603
230, 009
40, 594
2,066
37, 141
18 502
5 512
2,986
79
537
(i)
802
8 010
830
2, 259
2,586
3 429
7,911
2 454
do
Other
Other liabilities
266, 071
263, 946
223, 408
40, 538
2, 125
36, 153
17 637
4,997
2,914
79
536
(0
718
7,798
821
2, 201
2,588
3 430
7,867
2 430
To aid brinks
Liabilities except interagency total
Bonds, notes, and debentures:
266, 520
264, 445
224, 735
39, 710
2,075
30, 564
18, 089
5, 671
2,777
79
526
(i)
611
7,713
872
1, 259
2,645
3,427
3,240
1,904
do
To aid railroads
All other assets
264, 590
262, 550
223, 077
39, 474
2,040
58, 237
504
435
Government corporations and credit agencies:
Assets except interagencv total
mil of dol
To aid agriculture
264, 485
262, 380
223, 025
39, 354
2,105
274,
272
231
41
2
849'
632
6^3
009
216
LIFE INSURANCE
Assets, admitted:
All companies (Institute of Life Insurance), esti73, 621
mated total
mil. of dol
65, 948
Securities and mortgages
do
49 companies (Life Insurance Association of Amer2 r fi4, 800
ica) total
mil of dol
2 r 40, 475
Bonds and stocks, book value, total
do
2 MO, 983
Govt. (domestic and foreign), total
do
2 r 8, 925
IT. S Government
do
2 Ml, 553
Public utility
do
2 3, 397
Railroad
do
2 r 14, 542
Other..
do
Cash
Mortgage loans, total _ _
Farm
Other
-_
Policy loans and premium notes
Real-estate holdings
Other admitted assets
do
. . do
do
do
do
do.__
do
Life Insurance Agency Management Association:
Insurance written (new paid-for insurance) :
Value, estimated totalj
mil. of doL_
Group and wholesalej
do
Industrial^
„
do
Ordinary, total &-- -New England _
Middle Atlantic
..
East North Central
West North Central
South Atlantic
._ .
East South Central
West South Central
Mountain.
_ _ ..
Pacific
-do .
do
do
do
_ do..do
do
do
do
do
Institute of Life Insurance:
Payments to policyholders and beneficiaries, estimated total
thous. of dol__
Death benefits
do
Matured endowments _ .. .-_ _ do..
Disability pavments
do
Annuity payments
_ -do.
Surrender values
do
Policy dividends
do
73, 943
66, 269
74, 295
66, 598
74, 686
67, 035
75, 063
67, 330
75, 403
67, 698
75, 855
68, 105
76, 244
68, 337
76,612
68, 709
77, 121
69, 124
77, 552
69, 478
78, 201
69, 992
78, 866
70 544
65, 084
40, 630
10, 983
8,908
11, 610
3,402
14, 634
65, 362
40, 778
10, 791
8,711
11, 659
3.403
14, 925
65, 686
41,011
10. 816
8, 734
11,708
3, 412
15, 075
65, 997
41. 123
10, 692
8, 726
11, 760
3,412
15, 259
66, 262
41, 277
10, 602
8, 676
11,827
3,412
15,436
66, 621
41,451
10, 564
8, 634
11,897
3, 418
15,572
66, 944
41, 531
10, 565
8,634
11,952
3,423
15, 591
67, 294
41,739
10, 527
8, 585
12,043
3,429
15,740
67, 685
41, 976
10, 517
8,566
12, 132
3,451
15, 875
68, 046
42, 120
10, 476
8,480
12, 213
3,461
15,971
68, 587
42, 317
10, 435
8.427
12,295
3,484
16, 102
68, 989
42, 607
10, 509
8,407
12, 325
3, 505
16, 267
775
17, 894
1,524
16,370
2,318
1,663
1,804
750
18, 038
1,541
16, 496
2, 329
1,669
1,797
711
18, 182
1, 564
16, 618
2, 341
1, 687
1, 755
759
18, 306
1, 584
16, 722
2, 351
1, 694
1, 763
707
18, 444
1, 599
16,845
2,365
1, 702
1,767
726
18,619
1,615
17, 004
2,374
1,707
1,743
789
18, 716
1,628
17, 087
2,387
1, 726
1,795
776
18,818
1,638
17,180
2,402
1,732
1,827
776
18, 950
1, 648
17,302
2, 413
1, 745
1,824
777
19, 098
1, 654
17, 444
2, 425
1,752
1, 875
911
19,321
1 666
17,655
2 436
1,740
1, 862
889
19 410
1 674
17 736
2 447
1 7(')9
1,868
' 2, 359
267
450
' 2, 674
427
534
' 3, 411
657
583
' 3, 269
677
543
' 3, 136
518
608
' 3, 243
600
543
' 2, 93*4
477
499
' 2. 867
504
526
T
' 2, 880
407
562
' 3. 055
550
549
' 3, 782
1 105
477
2, 594
450
432
' 1, 642
124
424
358
137
177
63
151
50
182
'1,713
117
412
371
140
193
67
156
56
191
' 2, 171
141
519
460
174
245
91
200
78
250
r
' 2, 010
131
483
427
165
237
82
178
73
226
' 2. 100
138
484
449
172
247
85
195
72
242
'1,958
126
400
436
172
233
83
176
68
232
' 1, 837
116
395
398
155
222
78
170
68
221
' 1,776
110
371
383
153
219
84
164
69
209
'1,911
128
431
424
160
237
85
170
72
234
r
T
343, 743
158, 593
37, 059
8, 362
32, 946
49, 000
57, 783
410, 421
182, 781
40, 384
9,479
35, 193
63, 630
78, 954
361,977
162, 438
36, 873
9, 265
33, 908
57, 780
61,713
345, 385
157, 326
35,611
7,982
33, 904
55, 733
54, 829
383, 180
167, 530
37,155
8,683
33, 477
54, 548
81, 787
359, 570
155, 700
40, 792
8,678
33, 732
60, 153
60, 515
2827
2 M 7, 775
1, 512
2 r 16, 263
2 2, 310
2 1,658
2 r i, 755
399, 041
169, 068
42, 909
9,851
42, 973
53, 217
81, 023
2, 049
137
487
444
171
241
91
191
75
237
365, 145
164, 114
36, 314
8,867
35, 049
58, 826
61, 975
355, 232
158, 288
37, 168
8, 834
35, 339
57, 485
58, 118
383, 861
169, 925
39, 094
8 733
34, 018
60, 133
71, 958
2, 772
477
519
1.956
128
450
426
156
233
83
177
67
222
352. 150
152 387
39, 862
8,717
35, 971
58, 376
56, 837
2 200
144
490
467
189
263
88
197
86
260
1 712
122
418
375
143
180
481,224
191, 711
49, 345
9 495
37, 426
64, 579
128, 668
437, 531
1 r)H
191
1 "9 ~Q{\
r
>() 744
49 115
65 474
89, 160
Life Insurance Association of America:
T
Premium income (39 cos.), total
do
617,855 r r599, 835 r r682, 325 r T637, 446 r r574, 765 ' r 633, 799 r r619,800 r T581,965 r r640, 679 * 602, 574 ' T627, 683 r 942 298
r
r 96 825
66, 896
81,653
73, 494
78, 104
77, 672
91,380
79 731
76 143
Accident and health
do
84 481
83 104
'79 316
r
' 61,039 r 91 , 674 rr 70, 363 rr 72 779 '83 589 T 80, 719 r 204 91 1
100,351 r' 80, 461 rr 94, 784 rT 87, 337 Tr 65, 634
Annuities
_ _ _.
do _
r
T 52 442
r 56 284
T 7] 221
'
60,
744
48,
224
58
168
60,
022
48,
414
55
502
53
064
r
56
386
70
787
Group
do
r
r
r
<• 68, 740
69, 463
69, 080
r 83, 828
82, 698
' 75, 359 r 84, 593 r 68, 094
Industrial
...do
'81,955 ' 69, 001 '77,031 ' 118, 852
316,649 '315.581 ' 347. 339 r 3 18. 226 r 329. 168 r 450. 489
' 284. 288 r 328, 705 r 367, 108 r 330, 613 '314.063 r 356, 403
Ordinary
..do
J
'Revised.
Les? than $500,000.
2
Revisions for December 1952 (mil. of dol.): Total assets, 64,436; total bonds and stocks, 40,157; Government (domestic and foreign), 10,911; U. S. Government, 8,867; public utility, 11,512;
railroad. 3,370; other bonds and stocks, 14,363; cash, 876; total mortgage loans, 17,647; other, 16,144; policy loans, etc., 2,306; real-estate holdings, 1,656; other admitted assets, 1,791.
J Re visions for January-July 1952 are shown on p. S-17 of the October 1953 SURVEY.
cfData for 1953 for total ordinary insurance written include revisions not distributed by regions.
SUKVEY OF CURRENT BUSINESS
S-18
Unless otherwise stated, statistics through
1952 and descriptive notes are shown in the
1953 Statistical Supplement to the Survey
March 1954
1954
1953
January
February
March
April
May
June
July
August
September
October
November
December
22, 178
-78, 800
1,881
1, 754
66,000
40 400
11,500
6 200
22, 128
-55,000
10, 100
10 039
22, 077
—72, 500
3,752
4,306
22, 028
-35, 100
2,668
2 114
22, 030
-21, 200
3, 526
2 081
39 800
11, 700
6 200
40, 500
10, 000
6 800
9,500
6 200
6 100
January
FINANCE—Continued
MONETARY STATISTICS
Gold and silver:
Gold:
22, 563
22, 986
22, 662
Monetary stock, U. S
mil. of dol _
Net release from earmark§
thous. of dol__ -171, 700 -324, 100 -106, 500
3,867
4,262
3,813
Exports
_ -do
1,653
7,746
1,827
Imports
do
64,
000
65,200
60,900
Production, reported monthly total _ do
39, 300
37, 000
39,300
Africa
do
13, 000
12, 400
13, 300
Canada
do__ .
4,500
5,200
4,300
United States
do
Silver:
144
1,318
506
Exports
do _._
7,272 v 13,886
10, 878
Imports
do
.845
.853
.853
Price at New York_
dol. per fine oz._
Production:
2,460
2, 255
2,458
Canada
__
._ - thous. of fine oz _
3,870
4,394
4, 054
Mexico
do
3,362
3,112
3,175
United States _
_ . .
do
Money supply:
29, 754
29, 793
Currency in circulation
mil. of dol_. 29, 691
202, 100
200, 600
201, 000
Deposits and currency, total _ _
do
2,500
2,300
2,400
Foreign banks deposits, net
do
6,200
7,100
7,100
U S Government balances
.
do
193, 300
191, 600
191, 000
Deposits (adjusted) and currency, totaL.-do
100, 500
97, 400
98, 300
Demand deposits, adjusted
_
do _.
66, 100
66, 400
66, 800
Time deposits
do
26, 800
26, 900
26, 900
Currency outside banks
do
Turnover of demand deposits except interbank and
U. S. Government, annual rate:t
34.3
35.1
37.1
New York City
ratio of debits to deposits. .
23.9
24.4
28.7
6 other centers 9
do
22, 562
-16,800
2,704
9, 685
64, 200
38, 900
12, 900
5,200
22, 537
22, 463
22, 277
-48, 900 -68, 500 -171,700
1, 835
3,654
2,747
1,874
1,690
2,255
64,700
65, 500
67,000
39, 400
38, 800
40 600
12, 900
12, 700
12,900
6,100
6,000
6 800
883
6,285
.853
230
5,364
.853
3, 578
11, 296
.853
307
6 548
.853
324
6,243
.853
403
11 873
.853
253
6,497
.853
198
5 091
.853
282
3 870
.853
3,070
1,984
3,018
2,487
4,850
2,823
2,475
2,605
1,909
2,244
3 063
2,525
1,966
2 752
2 652
r
2,048
2 514
3,558
2,101
5,077
'2,511
2, 331
6 678
3, 751
29, 843
199, 100
2,400
4,600
192, 200
98, 000
67, 200
27, 000
29, 951
199, 100
2,400
4,600
192, 100
97,500
67, 600
27,000
35.4
26.7
35.6
26.2
2, 009
6 045
2,301
30, 125
30, 807
30, 398
30, 781
30, 248
30, 275
30, 120
200, 360 p 205, 100 p 204, 800 p 204 900 p 205, 400 t 206, 800 p209 000
•p 2 400
2,467
•p 2 400
p 2 400
p 2 500
p 2 500
p 2 400
p 7, 000
5,333
P 5, 700
p 9, 600
P 5 300
p 9, 000
p 8 100
192, 560 * 193, 000 p 193, 400 p 194, 300 p 197, 300 p 197, 400 P 201, 300
96, 898 p 97, 400 p 97, 500 •P 97 700 p 100, 300 p 100, 200 pl03 300
68 293 p 68 400 p 68 700 v 69 100 P 69 600 p 69 300 P 70 100
27, 369 p27 200 p 27 300 v 27 500 P 27, 400 p 27, 900 P 27 800
38.9
26.5
36.0
25.7
32.2
23.6
40.2
25.9
35.8
23.9
38.4
'26.4
43.1
'26.8
21 956
-43, 300
7 074
1 555
314
4 412
.853
3 372
29, 981
P 206 800
P 2 400
P 4 400
p 199, 900
p 102 400
p 7Q
KQQ
p 27' ooo
P42.7
P24.0
PROFITS AND DIVIDENDS (QUARTERLY)
Manufacturing corporations (Fed. Trade and SEC) :*
Net profit after taxes all industries mil. of dol
Food and kindred products
do
Textile-mill products
do
Lumber and wood products (except furniture)
mil. of dol
Paper and allied products
do
Chemicals and allied products
do
Petroleum refining
do
Stone clay and glass products
do _
Primary nonferrous metal
do
Primary iron and steel
do _
Fabricated metal products (except ordnance,
machinery, and transportation equipment)
mil. of doL.
Machinery (except electrical)
do
Electrical machinery
do
Transportation equipment (except motor vehicles etc )
mil of dol
Motor vehicles and parts
do
All other manufacturing industries
do
Dividends paid (cash) all industries
do
Electric utilities, net profit after taxes ("Fed. Res.)
mil of dol
Railways and telephone cos. (see p. S-23).
2,847
186
93
3 031
219
83
2 871
275
77
46
116
279
488
77
127
228
61
113
284
520
127
124
243
47
116
252
545
121
104
236
118
194
140
278
165
142
210
159
69
269
298
85
272
316
68
236
282
1,267
1 287
1 244
288
246
233
SECURITIES ISSUED
Commercial and Financial Chronicle:
Securities issued, by type of security, total (new
1,185 * 1,114
1,069
i i 442
1 041
1 538
1 626
1 111
1 210
644
capital and refunding)
mil of dol
1,016
1,005
939
942
1,323
1,491
1,033
1 142
i 1 344
497
New capital total
do
949
1,002
899
1 465
927
974
1, 287
1 141
Domestic total
do
1 266
495
624
560
480
597
588
421
1 057
Corporate
do
584
705
239
3
13
0
16
15
45
o
76
30
Federal agencies
do
99
386
365
420
393
645
323
477
527
255
462
Municipal State etc
do
4
67
8
40
1
15
25
36
3
59
Foreign
do
169
129
109
99
215
135
69
78
146
Refunding total
do
98
129
151
109
99
215
135
69
78
146
Domestic total
do
98
16
25
6
11
11
16
37
2
7
3
Corporate
do
81
105
130
65
198
79
67
56
140
Federal agencies
do
94
3
4
5
2
2
2
2
18
24
19
Municipal State etc
do
Securities and Exchange Commission:
1,783
1,592
1,604
1,667
4,630
3, 053
1,629
1,430
1,928
' 2, 278 '3,508
2, 751
Estimated gross proceeds, total
do
2,576
By type of security:
r
1,615
1,422
1,425
1,507
4,383
2,861
1.521
1,814
1, 359
2,484
2, 656
Bonds and notes, total
do
2. 045
' 3, 402
536
517
484
497
659
988
461
407
243
675
"•357
'354
1,405
Corporate
do
123
116
124
165
159
116
89
82
65
'68
••215
51
Common stock
do
47
51
62
47
35
82
33
19
7
31
44
'18
43
Preferred stock
do
'37
By type of issuer:
664
696
731
1,179
706
818
521
569
315
766
'459
1 500
Corporate total
-- do
'590
r
205
116
151
289
286
317
124
426
147
63
171
56
'95
Manufacturing
do
15
36
IVIining
do
216
249
261
406
342
269
228
215
98
247
203
'365
'249
Public utility
do
T
32
1.5
23
50
25
9
40
10
48
25
6
10
Railroad
do
61
15
44
4
7
13
7
25
16
30
90
'13
'6
Communication
do _
611
141
144
101
14
162
418
48
254
39
93
53
'45
••71
Real estate and
financial
do
849
3,899
1,873
1,119
886
908
1, 251
1.060
1,407
1,115
1,810
' 1. 689 ' 3, 049
Noncorporate, total
do
503
491
611
561
494
3,244
1,454
423
853
1.070
' 2. 610
884
1, 320
U. S. Government
do
405
349
522
260
650
454
390
410
392
'483
'411
771
380
State and municipal
do._' Revised.
*> Preliminary.
i Includes International Bank securities not shown separately.
§Or increase in earmarked gold (—).
t Revised series. Data reflect change in number of reporting banks and centers; figures prior to May 1952 will be shown later.
9 Includes Boston, Philadelphia, Chicago, Detroit, San Francisco, and Los Angeles.
*New series. Compiled jointly by the Federal Trade and Securities Exchange Commissions. Data are estimated totals based on reports from all manufacturing corporations registered
with SEC, all nonregistered manufacturing corporations with total assets of $5,000,000 and over at the end of 1949. and a sample of nonregistered manufacturing corporations with total assets
of less than $5,000,000 at the end of 1949. Comparable data beginning with the first quarter of 1951 are available upon request.
SUEVEY OF CURRENT BUSINESS
March 1954
Unless otherwise stated, statistics through
1952 and descriptive notes are shown in the
1953 Statistical Supplement to the Survey
S-19
1954
1953
January
February
March
April
May
July
June
August
September
October
November
December
January
FINANCE—Continued
SECURITIES ISSUED—Continued
Securities and Exchange Commission— Continued
New corporate security issues:
Estimated net proceeds, total
mil. of doL_
Proposed uses of proceeds:
New money total
do
Plant and equipment
do
Working capital
do
Retirement of securities
do
Other purposes
do
Proposed uses by major groups:
Manufacturing, total
do
New money
do
Retirement of securities
do
Mining total
do
New money
do
Retirement of securities
do
Public utility, total
do
New monev
__do
Retirement of securities
do
Railroad total
do
New money
do
Retirement of securities
do
Communication, total
do
New money
do
Retirement of securities
do
Real estate and financial, total
do
New money
_
do
Retirement of securities
do
State and municipal issues (Bond Buyer):
Long-term
thous. of dol__
Short-term
_ -do
655
694
684
806
715
1,161
510
309
756
••577
'451
1,486
560
603
495
108
635
381
255
630
438
192
757
532
225
612
481
131
1 046
614
432
479
384
95
278
169
110
695
421
274
'543
-429
••114
'409
'305
'104
19
24
1,431
1,130
301
25
31
528
467
60
15
17
283
263
148
132
203
178
312
305
114
78
285
222
145
127
55
39
122
87
••62
'56
'94
'77
1
245
239
257
254
212
205
223
201
397
355
334
303
210
208
97
87
243
225
-358
'337
39
26
49
31
32
32
24
24
15
15
23
23
9
9
9
9
24
24
6
6
4
4
7
7
15
15
13
12
7
7
43
43
15
15
29
29
89
88
'13
••13
47
44
140
138
142
129
162
152
99
94
415
396
39
37
91
91
251
248
'71
'68
'245
'225
16
10
10
0
5
5
0
'45
'44
0
420
403
6
36
33
1
201
193
0)
60
45
15
608
608
0
52
48
(0
169
143
15
14
13
0
265
265
0
48
48
0
25
25
0
14
13
0
391, 872
294, 085
362, 629
110,843
433, 142
333, 219
348, 859
144, 986
650, 210
228,600
443, 040
151,384
521, 899
172, 444
260, 063
366, 327
475, 595
251, 039
482, 876
294, 113
410, 562
190,858
' 777, 141
' 218, 734
380, 169
304, 473
198
252
185
259
183
281
307
586
254
610
237
689
243
476
262
318
268
371
210
310
158
250
1,641
672
1, 098
1,654
682
' 1, 127
J>301
v I, 696
* 713
*> 1, 162
^ 1,689
P741
* 1,108
COMMODITY MARKETS
Volume of trading in grain futures:
Corn
_Wheat
_ _
mil. o f b u
do
230
254
262'
304
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
_ ._
mil of dol
_
do
do___do
1,345
732
908
1,350
730
871
1,513
744
966
1,594
738
1,068
1,671
673
1,193
282
1,684
653
1,216
1,664
651
1,161
1,682
641
1,182
1,624
674
1,070
97.66
98.09
75.50
97.15
97.56
75.81
96.57
96.99
74.95
95.46
95.84
75.27
94.42
94.79
74.88
95.30
95.69
74.62
95.82
96 22
74.44
95 58
95 96
74 79
96.74
97.18
75.25
97.59
98.03
75.70
97.30
97 72
75 78
98.32
98.74
76.30
99.32
99.74
77.17
114.5
124.0
95.68
114.0
122.8
95.28
113.4
121.6
94.31
111.7
121.5
93. 25
109.8
119.4
91.59
108.8
115. 1
91.56
110.7
115.1
92.98
111.4
116 9
92 89
110.9
116.9
93.40
112.5
119.7
95.28
113.6
121.4
94.98
113.5
122.3
95.85
114.6
123. 6
97.42
75, 146
85, 722
70,039
76, 831
76, 726
90 067
71,709
88, 128
61, 993
72 496
69, 942
83 260
56, 270
64 949
46, 982
54 677
53, 136
61 895
62, 397
77 035
48, 741
56 894
87, 702
97 078
79, 128
91 677
73, 014
82, 187
68,483
74, 823
74, 547
85, 245
69, 691
83,115
60, 227
69, 753
68 208
80, 340
54 572
62, 723
45 364
52 327
51, 954
60, 238
60 529
74,607
47 433
55 102
86 220
94, 863
77, 099
88, 276
80, 397
0
80, 397
73,417
6,912
60,288
0
60, 288"
52, 940
7,324
74, 757
1
74, 756
65, 013
9, 650
76, 976
0
76, 976
64, 778
12, 002
62, 085
34
62, 051
54, 611
7,372
68,751
0
68, 751
60, 659
8 024
55, 874
0
55, 874
48, 477
7,293
47 574
0
47, 574
41 087
6 455
56, 308
0
56, 308
49, 468
6,795
64, 037
8
64, 029
57, 153
6 727
59, 622
0
59, 622
53 034
6 499
69, 272
1
69, 271
62, 126
6 861
86, 352
0
86, 352
72, 247
13 970
100, 116
98, 200
1,428
102, 510
100, 109
1,891
100, 117
98,211
1,432
103, 055
100, 666
1,890
99, 535
97, 638
1,425
103, 066
100, 665
1,901
98, 562
96, 662
1,429
103, 251
100, 853
1,899
98, 985
97, 094
1,421
104, 830
102, 432
1,898
99, 454
97, 576
1 411
104, 357
101,966
1 891
100, 279
98, 419
1 390
104, 651
102, 284
1,867
100, 010
98 142
1 395
104 634
102 269
1 865
93, 472
91, 599
1 400
96, 620
94, 259
1 861
94, 572
92, 613
1 406
96,904
94 471
1 858
96,506
94 549
1 406
99 184
96 754
1 856
99, 828
97 871
1 406
101, 539
99 122
1 842
101, 246
99 162
1 421
101,936
99 419
1 842
3.22
3.26
3.31
3.40
3 53
3 61
3 55
3 51
3 54
3 45
3 38
3 39
3 34
3.02
3.09
3.25
3 51
3.07
3.14
3.30
3. 53
3.12
3.18
3.36
3.57
3.23
3.29
3.44
3.65
3.34
3 41
3.58
3 78
3.40
3 50
3.67
3 86
3.28
3 42
3.62
3 86
3 24
3 39
3.56
3 85
3.29
3 43
3.56
3 88
3 16
3 33
3.47
3 82
3 11
3 27
3.40
3 75
3 13
3 28
3.40
3 74
3 069
3 2
3.35
3 71
3 07
3 23
3 36
3.11
3 29
3.39
3. 16
3 33
3.43
3.27
3 44
3.51
3 39
3 57
3 63
3 48
3 62
3 73
3 42
3 56
3 67
3 37
3 54
3 61
3 39
3 58
3 65
3 33
3 46
3 56
3 27
3 38
3 51
3 28
3 37
3 52
3 23
3 31
3 47
2.46
2.47
2.80
2.63
2.54
2.83
2.65
2.61
2.89
2.68
2.63
2.97
2 81
2.73
3.09
3 04
2 99
3.09
2 92
2.99
2.99
2 92
2 89
3.00
2 82
2.88
2.97
2 69
2*72
2.83
2 60
2 62
2.85
2 58
2 59
2^79
2 46
2 50
2.' 68
T
Bonds
Prices:
Average price of all listed bonds (N. Y. S. E.),
total§
dollars
Domestic
do
Foreign. - _
do
Standard and Poor's Corporation:
Industrial, utility, and railroad (A1+ issues) :
Composite (17 bonds)
dol. per $100 bond-Domestic municipal (15 bonds)
do
U. S. Treasury bonds, taxable
- -do
Sales:
Total, excluding U. S. Government bonds:
All registered exchanges:
Market value
thous. of dol._
Face value
do
New York Stock Exchange:
Market value
do
Face value _ .
do
New York Stock Exchange, exclusive of stopped
sales, face value, total§
thous. of dol
U. S. Government _
do
Other than U. S. Government, total§
do
Domestic .
do
Foreign
_
do
Value, issues listed on N. Y. S. E.:
Market value, total, all issues§
mil. of doL.
Domestic
--- -_do
Foreign
do
Face 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 bonds) -.
____
_
do
Standard and Poor's Corp. (15 bonds)
do
U. S. Treasury bonds, taxable
do
r
Revised.
*> Preliminary
1 Less than $500,000.
§Sales and value 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.
SURVEY OF CURRENT BUSINESS
S-20
Unless otherwise stated, statistics through
1952 and descriptive notes are shown in the
1953 Statistical Supplement to the Survey
March 1!)."»4
1953
January
*ebru-
March
April
May
June
1954
July
August
Septan-
October
November
December
January
FINANCE— Continued
SECURITY MARKETS—Continued
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):
Dividends per share, annual rate (200 stocks)
dollars _ _
Industrial (125 stocks), __ .
do _.
Public utility (24 stocks)
do
Railroad (25 stocks) _
do Bank (15 stocks)
do
Insurance (10 stocks)
do
548.1
125 6
170 5
50
181.3
44.9
65 0
2.9
1,251.1
81.4
821 9
86 9
561.2
103. 5
190 1
7 3
221.5
49.0
100 4
2.6
1, 249. 6
87.6
802 2
87.3
576.0
137.0
200 6
5.6
220.9
52.0
88 0
2. 5
1, 235. 3
86.4
796 1
86.2
553.3
100 1
205 9
6 9
232.4
52 5
102 0
2 5
1,715.2
170.6
1 081 7
141.3
689. 5
134 7
239 8
83
95 7
64 3
18 2
57 0
11.8
9
42 0
6.9
15 5
3.2
46 9
89 0
57.7
40 3
27.0
105 0
63 8
30.6
50 1
10.8
1 0
51.8
3.1
7.6
6.0
51 1
94.6
56.4
49.0
21.4
104 3
66 3
14.1
39 2
8.9
10
55 4
10.0
7.6
4.4
51 8
94.7
49.3
50.8
19.9
104 0
65 9
17.4
41 8
11.3
1.1
57.0
2.9
7.8
6.4
43 7
100. 3
87.4
48.8
41.4
104 4
68 0
32 3
92 3
9.6
3.95
4 16
1 93
2 88
9 77
2 99
3.95
4.16
1 94
2.91
2 80
3 01
3.96
4.16
1 95
3.01
2 82
3 07
3.97
4. 17
1 96
3.01
2 82
3.09
3.98
4.17
1.98
3.01
2 82
3.09
3.97
4.16
2 01
3.03
2 82
3.09
3.98
4.15
2 01
3.09
2 82
3. 10
3.99
4.16
2.07
3.11
2 82
3.10
3.98
4.15
2.07
3.11
2 82
3.10
4.06
4.25
2 07
3.13
2 83
3.12
4.08
4.26
2.09
3.21
2.87
3.16
4.08
4.27
2.09
3.21
2.97
3.26
4.11
4.30
2 09
3. 25
3 01
3. 26
Price per share, end of month (200 stocks) .-do
Industrial (125 stocks)
do
Public utility (24 stocks)
._ ..
do ._.
Railroad (25 stocks)
do
76.69
80 37
38 40
52 19
75. 60
79 15
38.21
51 17
74. 13
77 64
37.81
49 56
72. 35
75 56
36. 96
48 48
72.24
75. 45
37.08
48.97
71.14
74.28
36.02
48.40
72.87
76.24
36.81
49.03
69.34
71.85
37.16
44.39
69.51
72.09
37.20
43.61
72. 59
75.90
38.59
45.18
73.79
76.97
39.70
45.56
73.50
77. 06
39.61
43.18
77.11
81.37
40. 87
40. 58
Yield (200 stocks)
percent-Industrial (125 stocks) ..
__. .
do __
Public utility (24 stocks)
do
Railroad (25 stocks)
. do
Bank (15 stocks).
do
Insurance (10 stocks)
. do_._
Earnings per share (at annual rate), quarterly:
Industrial (125 stocks)
dollars
Public utility (24 stocks)
do
Railroad (25 stocks)
do
Dividend yields, preferred stocks, 11 high-grade
(Standard and Poor's Corp.)
percent _
Prices:
Dow-Jones & Co., Inc. (65 stocks). dol. per share-Industrial (30 stocks)
do
Public utility (15 stocks)
do
Railroad (20 stocks)
do
Standard and Poor's Corporation:
Industrial, public utility, and railroad: §
Combined index (480 stocks) -..1935-39= 100. _
Industrial, total (420 stocks)
do
Capital goods (129 stocks)
do__.
Consumers' goods (195 stocks)
do
Public utility (40 stocks)
do _.
Railroad (20 stocks)
do
Banks, N. Y. C. (16 stocks)
do
Fire and marine insurance (17 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 doLNumber of shares listed
._ millions _ -
5.15
5.18
5 03
5.52
4 18
3.07
5.22
5.26
5 08
5.69
4 23
3.17
5.34
5.36
5 16
6.07
4 33
3.29
5.49
5. 52
5.30
6.21
4.49
3.41
5.51
5. 53
5.34
6.15
4.60
S.41
5.58
5.60
5.58
6.26
4.64
3.50
5.46
5.44
5.46
6.30
4.59
3.40
5.75
5.79
5.57
7.01
4.55
3.46
5.73
5.76
5.56
7.13
4.53
3.40
5.59
5.60
5.36
6.93
4.45
3.35
5.53
5.53
5.26
7.05
4.28
3.32
5.55
5.54
5.28
7.43
4.61
3.26
5. 33
5.28
5.11
6.98
4.72
3. 20
P8.10
7.85
2.85
8.56
7.78
2.79
8 30
7 29
2.70
6 73
r 2. 80
P8.75
4.16
4.21
4.23
4.33
4.38
4.47
4.37
4.30
4.30
4.19
4.15
4.20
4.15
112.25
288 44
52 20
109 99
111.21
283 94
52.57
109 03
112.41
286 79
53. 19
110 24
107. 52
275 28
51.59
104 05
108. 07
276. 84
50. 97
105. 58
104. 42
266. 88
48.66
103.09
106. 08
270. 32
49.03
105. 68
106. 21
272. 21
50. 40
103. 12
100. 98
261.90
49.16
94. 46
103. 58
270. 73
50. 53
95. 44
105. 82
277 10
51.57
97 23
106. 74
281.15
52.54
96.37
103. 86
286. 64
53. 33
98. 17
197. 6
214 3
200 4
184 7
124 0
185 2
128. 3
231 0
195. 9
212.0
197.4
183 4
124.4
181.4
128.2
223.8
198.0
214.5
199.8
185.3
124.9
184. 5
128.1
223.9
190.0
205.5
191.8
177.8
121. 5
173. 3
122. 3
216.0
189.6
205.2
192.3
177.6
120.8
174.2
121.3
214.1
182.8
197. 5
183. 7
170.7
117.2
169. 3
115.3
205.1
185.5
200.1
185.9
171.7
119.2
173.7
117.6
208. 5
187.3
202.1
188.1
172.8
121.1
170.2
121.4
215.7
179.2
192. 6
180.2
165. 4
119.6
156.1
119.6
209.7
183.4
197.2
186.7
168.8
122.2
156.7
122.6
215.5
187. 5
202.3
192.2
171.0
123. 6
158. 5
124.8
225. 6
190.7
206. 2
197.0
172. &
125.2
156. 9
124.3
229.4
195.4
211.9
201.0
177. 0
126. 7
159. 5
122. 8
238. 0
1,661
74 299
1,376
53, 534
1,906
75, 473
1,783
83, 729
1,325
58, 380
1,290
63, 844
1, 073
42, 528
1,119
42, 437
1,248
53, 392
1,170
50, 606
1,188
52, 274
1,568
65,081
1,533
65, 775
1,417
55, 897
1,173
38, 540
1,616
51,812
1,541
64,111
1,129
43, 936
1,106
49, 757
903
28, 809
946
29, 841
1,068
38,011
995
36. 557
1.010
37, 872
1,344
45, 458
1.29(>
47.313
34, 087
30, 209
42, 472
34, 370
25, 767
26, 075
22, 234
23, 893
27,172
25, 728
26, 684
36,159
33, 375
120, 483
2,802
119, 749
2,814
118,223
2,819
114,862
2,840
115,371
2, 862
113,306
2,878
115,886
2, 882
110, 750
2,889
110,479
2,892
115,428
2,902
117,478
2,918
117,257
2,927
123,190
2. 931
INTERNATIONAL TRANSACTIONS OF THE UNITED STATES
BALANCE OF PAYMENTS (QUARTER LY)t
do
5, 425
4,256
440
729
5, 750
4, 508
450
792
do
do
do
do
4 037
2,984
111
942
4, 313
3, 125
112
1,076
Balance on goods and services
do
+1 388
+1 437
Unilateral transfers (net) total
Private
Government
do
do
do
— 1 908
—2,064
— 122
-1,943
U S. long- and short-term capital (net), total do
Private
do
Government
do
-209
— 219
+ 10
Foreign long- and short-term capital (net)
Exports of goods and services, total
Merchand ise, adjusted
mil. of dol..
do
Other services
Imports of goods and services total
Merchandise adjusted
Income on foreign investments in U S
Other services
-do
Increase (— ) cr decrease (+) in U. S. gold stock
mil of dol
5, 233
' 4, 280
' 2, 91 6
3, 992
2. 879
124
989
' 101
' 1 , 269
570
706
" +643
+1 , 241
— 1,354
'-128
'-1,226
— 1,358
-117
-1,241
+67
+100
-34
'-201
'-23
'-178
-245
— 227
-19
+ 155
+270
'+445
+263
+603
+ 128
+302
+130
'+165
-31
— 120
-1,788
+162
-29
Errors and omissions do
T
Revised.
p Preliminary.
§ Number of stocks represents number currently used; the change in the number does not affect the continuity of series,
September 1953 SURVEY.
' 4,929
3,r 7 1 <
439
r
773
r
r
t Revisions for the first 2 quarters of 1952 appear on p. 12 of the
March
SURVEY OF CURRENT BUSINESS
1054
Unless otherwise stated, statistics through
1952 and descriptive notes are shown in the
1953 Statistical Supplement to the Survey
S-21
1954
1953
January
Febru-
ary
March
April
May
June
July
August
Septem-
ber
October
Novem-
Decem-
ber
ber
January
INTERNATIONAL TRANSACTIONS OF THE UNITED STATES—Continued
FOREIGN TRADE
Indexes
Exports of U. S. merchandise :d"
Quantity
1936-38= 100. .
Value
do
Unit value
do
Imports for consumption:^
Quantity
do
Value
do
Unit value
do
Agricultural products, quantity:
Exports, U. S. merchandise, total:
Unadjusted
1924-29=100
Adjusted
--- --do
Total, excluding cotton:
Unadjusted
-do
Adjusted
- do.
Imports for consumption:
Unadjusted
do
Adjusted
do
256
525
205
239
486
204
275
566
205
279
567
203
290
589
203
279
561
201
272
550
202
238
482
203
246
504
204
248
507
204
248
506
204
270
550
203
162
445
276
149
413
278
174
484
277
175
486
278
158
434
276
164
451
275
158
435
276
147
407
278
162
453
279
145
401
277
149
409
275
159
437
276
96
96
78
95
90
105
82
102
77
99
70
96
73
99
73
89
81
67
78
59
87
70
90
73
146
153
117
145
141
167
130
156
113
134
105
131
126
157
115
120
130
107
122
98
135
116
123
108
121
116
101
99
121
108
126
119
104
106
105
113
100
111
91
99
116
119
87
86
99
101
107
106
5,109
8,814
4,267
7,703
4,663
8,644
6,292
8,942
6,704
9,282
7,096
9,366
7,018
8,994
6,889
' 8, 590
6,581
' 9, 187
6,408
8,689
1,291
1,197
1,388
l,39o
1,446
1,376
1,348
1,184
1,236
1,246
1,242
45, 039
177, 762
267, 865
228, 242
131, 383
114, 781
35, 534
164, 579
213, 679
230, 947
121, 651
116, 184
49, 047
185, 407
253, 195
266, 229
132, 902
118, 165
44, 398
169, 949
249, 390
286, 975
133, 837
122, 970
44, 794
178, 304
246, 325
294, 784
136, 492
130, 991
36, 772
156, 806
218, 145
290, 129
128, 061
128, 519
44, 428
171, 427
197, 415
244, 829
125, 391
113, 339
42, 155
163, 375
195, 157
233, 792
108, 452
122, 972
50, 311
186, 255
229, 393
237, 896
136, 676
132, 205
32. 386
171, 065
240, 196
247,112
142, 442
129, 351
37, 643
197, 622
246, 287
224, 539
130, 210
133, 095
39, 953
231 , 508
296,108
210,795
146, 649
152, 227
6.733
19, 463
3,316
17, 221
4,739
24, 427
4,454
18, 194
3,958
18, 365
4,000
16, 454
8,234
18, 326
10, 191
14, 507
4,428
17,021
3,280
13, 586
4,224
13, 412
2, 692
16, 053
11, 492
2,274
0
17, 910
50. 414
10, 477
30, 816
9,871
2,636
0
26, 761
40, 796
7,474
24, 799
9,730
2,505
0
28, 332
50, 549
7,549
28, 394
7,947
3,264
0
10, 752
50, 826
8,759
29, 245
9,686
2,560
0
12, 898
50, 255
6, 157
39, 177
7,495
2,205
0
14, 629
44, 912
9,266
33,715
9,248
2,982
0
22, 320
47, 209
10, 133
27, 724
7,121
2,530
0
17, 985
52, 443
11, 827
20, 110
13, 622
2,417
0
23, 459
60, 433
8,327
30, 551
9,277
2,065
0
21, 637
62, 809
7,533
28, 792
18, 970
2,542
0
24, 072
74, 870
8,156
23, 610
18,394
2,996
0
19,845
83, 229
8,131
33, 300
30, 601
34, 182
36, 406
0)
53, 139
26, 610
28, 495
17, 145
1
47, 864
34, 598
26, 426
24, 370
2
61, 703
26, 562
26, 514
28, 004
0)
53, 551
39, 882
29, 471
27, 602
3
43, 743
27, 339
25, 755
23, 474
4
39, 048
18, 136
24, 688
16, 232
5
31, 229
18, 718
23, 565
16, 151
0
40, 224
31, 298
26, 444
20, 222
0
54, 183
29, 082
40, 009
15, 972
1
50, 486
24, 051
33, 399
23, 996
2
49, 879
30, 837
37, 905
27, 685
1
61,665
228, 232
231, 142
6,349
23, 815
5,951
19, 460
39, 299
51, 858
39, 643
1,280
230, 946
221, 508
5,413
23, 481
5,635
20, 121
35, 896
46. 864
41,075
1,185
266, 227
235, 796
6, 265
22, 473
9,072
19, 825
38, 925
54, 157
41, 051
1,379
286, 973
238, 271
5,942
23, 850
6, 506
24, 231
30, 827
51, 980
43, 843
1,383
294, 777
251, 969
8,214
24, 366
7,118
26, 140
34,315
47, 794
46, 998
1,435
290, 101
242, 493
14, 177
24, 661
7,227
24, 441
32, 025
52, 218
41, 671
1,368
244, 820
224, 732
6,499
19, 453
6,637
22, 994
37, 068
52, 481
41, 079
1,340
233, 781
220, 033
10, 095
23, 454
7,244
24, 260
27, 598
48, 174
39, 870
1,175
237, 876
255, 752
12, 341
29, 051
8, 528
24, 535
38, 095
54, 575
37, 060
1,227
247, 104
257, 579
6,617
21, 686
11,517
25, 530
37,157
65, 339
46, 425
1,236
224, 505
249, 516
10,812
24, 792
9,583
24, 841
36, 168
54, 172
44, 763
1,232
210,788
283, 025
11,498
33, 387
12,933
27, 887
39, 008
63, 087
47, 883
1,340
134, 540
109, 383
63, 603
106, 815
865, 528
110, 600
86, 884
50, 879
108, 222
828, 590
139, 168
132, 539
127, 324
118, 308
75, 029
82, 490
106, 265
67, 762
55, 889
53, 747
56, 592
53, 977
113, 751
112, 146
113, 055
116, 934
980,513 1,001,069 1, 051, 475 1,006,585
96, 912
82, 004
60, 494
110,543
989, 715
127, 461
71, 562
50, 821
106, 992
817, 796
138, 519
77, 693
55, 017
122, 841
833, 312
152, 002
69, 048
60, 612
129, 704
824, 482
159, 741
69, 739
75, 751
127, 431
799, 525
186, 780
55, 534
68,016
154, 668
874, 642
268, 702
54, 468
19, 149
127, 900
13, 272
24, 919
216, 627
47, 325
17, 838
93, 764
13, 604
19, 003
250, 499
45,064
20, 191
114,443
14, 242
33, 113
196, 463
21, 156
20, 517
90,630
14, 795
19, 327
201, 207
35, 154
19, 617
71, 321
14, 735
31,668
234. 429
37, 165
19, 939
83, 688
15, 525
46, 992
241, 514
40, 168
22, 243
77, 579
17, 297
41, 183
279, 980
44, 570
20, 031
85, 390
20, 174
40, 671
301,461
68 347
18, 294
70, 227
22 167
52, 532
968, 547 1, 128, 114 1, 159, 365 1, 214, 281 1, 171, 602 1, 143, 205
124, 383
142, 195
134, 401
112, 845
162. 186
151, 579
68, 459
56, 273
71, 700
70, 433
65, 670
66,601
29, 329
18, 294
33, 831
35, 556
17, 651
33, 107
42, 914
41, 841
46, 769
45, 860
36, 335
43, 436
973, 426
97, 338
62, 260
37, 407
33, 139
992, 953
99, 481
77, 504
34, 665
36, 227
994, 333
88, 891
70, 508
35, 099
38, 451
952, 206 1,038,179
82, 773
94, 660
69, 931
82, 305
27, 837
18, 483
39, 424
44, 615
Shipping Weight
Water-borne trade:
Exports incl reexports©
General imports
thous. of long tons
-- do
Value c?
Exports, including reexports, totall
mil. of dol._
By geographic regions:A
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:A
Africa:
Egypt
do
Union of South Africa
-do
Asia and Oceania:
\ustrnlia including New Guinea
do
British Malaya
do
OhmaO
- -- do
India and Pakistan
do
Japan
- - do
Indonesia
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 9
do
Finished manufactures 9 -- -do__
By principal commodities:
Agricultural products, total
_ do
Cotton unmanufactured
do
Fruits 'vegetables, and preparations _ do-_.
Grains and preparations
do
Packing-house products
do
Tobacco and manufactures _
do
1,011,168
Nonagricultural products, total
._
do
124, 610
Automobiles, parts, and accessories.. _do
57, 393
Chemicals and related products!- _.. do_ .
24, 778
Coal and related fuels
do
45, 801
Iron and steel-mill products.
do_ _
Machinery, total§
_
Agricultural
- .-.
Tractors, parts, and accessories
Electrical^
Metalworking§
Other industrial
Petroleum and products
Textiles and manufactures
_.
--
__
do
do
do
do
do
do
do
do- _ .
223, 535
38, 396
17, 925
89, 567
15, 236
38, 129
221,031
48, 278
22, 566
76, 556
14, 890
30, 504
196, 193
41, 340
23, 686
69, 467
15, 168
24, 845
r
1,349
241, 385
9,191
26, 659
68, 899
28. 378
99, 986
224, 610
10, 345
27, 561
62, 280
22,318
93, 483
270, 216
12, 973
32, 396
72, 492
29, 560
112, 544
271, 903
15, 201
33, 468
75, 255
24, 691
113, 577
274, 910
16, 278
32, 954
74, 554
26, 361
114, 166
263, 204
14, 705
32, 890
72, 291
22, 818
110, 938
234, 802
14, 032
26, 756
61, 924
21, 923
101, 273
211, 158
12,411
24, 031
57, 003
15, 868
94, 564
264, 960
11, 367
27, 081
61, 312
19, 857
104, 460
220, 723
7, 416
24, 828
63. 644
19, 472
94, 767
216, 696
6,682
24, 479
58, 717
18, 020
94, 084
248, 795
7, 831
27 993
65, 096
23 064
112,997
54, 787
52, 956
54, 693
50, 386
62, 408
58, 572
67, 092
53, 852
56, 083
58, 193
56,958
52,234
55, 787
47, 792
54, 461
45, 475
54, 724
55, 839
54, 131
55, 935
58, 430
53, 218
61 315
55. 214
p 1,075
•
l
' Revised.
Less than $500.
<? Revisions for January-July 1952 will be shown later.
©Excludes "special category" shipments and all commodities exported under foreign-aid programs as Department of Defense controlled cargo.
ITotal exports and data by economic classes and commodities include shipments under the Mutual Security Program.
Total MSP shipments are as follows (mil. dol.): January 1953-January 1954, respectively—268.1; 272.3; 328.3; 339.8; 362.6; 371.1; 396.1; 274.1; 203.7; 233.5; 215.9; 215.3; 170.3.
AExcludes shipments under MSP and "special category" shipments not made under this program.
©Including Manchuria beginning January 1952.
9 Data for semimanufactures
reported as "special category type 1" are included with finished manufactures.
§Excludes "special category type 1" exports.
SURVEY OF CURRENT BUSINESS
S-22
Unless otherwise stated, statistics through
1952 and descriptive notes are shown in the
1953 Statistical Supplement to the Survey
March 1954
1953
January
February
March
April
May
June
July
August
September
October
November
De j 1954
b°r|'™
INTERNATIONAL TRANSACTIONS OF THE UNITED STATES—Continued
FOREIGN TRADE—Continued
Value cf —Continued
General imports, total
thous. o f 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__
ChinaO
do
India and Pakistan
__ __ do._
Japan
do
Indonesia
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
_
doChile
do
Colombia
_ _
do-_
Cuba
do
Mexico _ _ _
do
Venezuela
do
Imports for consumption, total
do
By economic. classes:
Crude materials
_
_ _ _- _
do
Crude foodstuffs
do
Manufactured foodstuffs and beverages do
Semimanufactures
do
Finished manufactures _
_ _ doBy principal commodities:
Agricultural products, total..
do
Cocoa or cacao beans, incl. shells
do-_
Coflfee
do
Hides and skins
._
do
Rubber crude including guayule
do_
Sugar
_
_
__do
Wool and mohair unmanufactured
do
Non agricultural products, total
do .
Furs and manufactures
_
_ do_
Nonferrous ores, metals, and manufactures,
total
_
thous. of dol
Copper, incl . ore and manufactures _ . _ do
• Tin including ore
do
Paper base stocks
_ __ __ _
do
Newsprint
do
Petroleum and products
- _do
922, 265
855, 928
1,004,240
1,012,404
901, 626
933, 763
907, 885
841, 137
925, 740
812, 938
849, 009 ' 907, 692 p 825,000
53, 935
170, 575
180, 449
183, 865
1 37, 275
196,165
45,119
140, 520
.172,292
184, 930
121,436
191, 632
48, 568
1 54, 992
21 4, 543
214, 918
150, 420
220, 799
61,716
177,403
207, 845
212, 304
147,441
205, 696
50, 510
164, 010
194, 857
210, 185
103, 991
178,074
44, 831
175, 200
200, 047
222, 790
101. 994
188, 900
43, 008
145, 703
204, 207
203, 799
103, 028
208, 140
44, 570
145, 040
178, 985
204, 274
94, 626
173, 642
44, 537
154,113
202 130
204, 348
80, 661
239, 953
48, 269
138, 748
197, 997
201, 637
59, 716
166, 576
50, 059
134, 646
196 177
207, 908
72, 240
187, 978
59 790
126, 544
184 572
211,715
104, 949
220, 122
6,840
9,591
2,334
9,734
2,328
9,202
4, 554
7,289
2,497
5,499
1,262
7,786
1,589
6,361
786
7,273
1,632
7,099
606
6,918
975
7,637
1,149
8,248
15,915
24, 527
678
27, 177
23, 045
19, 006
19, 422
14, 347
17,148
818
22, 358
15,439
18,854
20, 750
6, 965
19, 848
571
23, 865
22, 032
18, 547
19,716
14,161
23, 325
1,196
26, 082
22, 330
19, 347
23, 937
11,292
20, 540
499
21,935
21,150
18, 023
25 929
12,527
19,247
265
22, 579
22, 563
22, 056
34, 882
8,561
15,403
601
19, 486
23, 727
20, 974
24, 992
13, 065
15, 220
1,538
15, 559
26, 493
14 910
22, 375
8,824
14,608
537
18, 891
23, 489
20, 228
27, 353
7,523
14, 884
1,291
21, 353
21,917
15, 048
19, 960
12, 436
13, 307
361
20, 085
21. 556
14 291
19, 493
12,105
13,898
917
19, 893
17,867
13 169
17,759
14, 161
20, 991
13,497
810
37, 535
12, 939
17, 675
10, 153
402
44, 874
17, 355
28, 071
15, 381
2, 005
51,361
18, 784
26, 227
12, 123
1,128
46, 934
14,409
22, 948
13, 209
876
45, 656
17 905
25, 487
11, 549
1,131
44 400
20, 483
24, 388
12, 725
1,134
53, 866
13, 963
22, 887
11, 470
546
44, 322
14, 265
25, 157
12, 161
594
48, 121
14, 292
25, 411
14, 701
929
44, 790
14,984
22 892
18, 204
624
42, 512
12, 626
20, 939
13. 336
577
40 769
183, 853
311,272
22, 642
57,817
24, 844
33, 519
36, 600
41, 928
34, 575
913, 380
184, 887
294, 594
15,042
58, 576
26, 314
31, 029
32, 773
37. 861
34. 751
847, 414
214, 909
351, 998
20, 886
67, 596
28, 143
37, 494
48,713
44, 221
39, 259
991, 841
212 272
337, 552
18,549
59, 677
27, 304
43, 764
50, 054
39, 573
33, 573
997, 69i
210,174
266, 724
14, 577
43, 197
27,170
35, 066
40, 255
26, 993
37, 208
891, 102
222, 624
274, 477
16, 093
48, 619
30, 403
34, 1 21
39, 495
28, 774
34 216
925, 613
203, 624
294, 732
27, 731
56, 753
20, 278
41,713
40, 680
26, 207
35, 643
892, 595
204, 101
253, 655
9,964
48, 030
17,238
42, 827
45, 095
23, 263
35, 791
835, 606
203, 860
305, 679
11,173
100, 661
11, 744
52, 658
37, 530
18, 832
41, 038
928, 126
201, 442
212,873
11,426
56, 969
13, 511
27, 286
19, 641
19, 619
36, 548
821, 785
207, 660
239, 125
7, 513
79, 480
6,892
35, 061
17, 528
21,101
36, 564
838, 301
211,639
301,367
6, 333
91,144
8,099
51, 134
22, 429
27. 187
42 225
895, 958
235, 401
190, 685
85, 457
226, 328
175, 509
207, 846
175,810
76, 307
221, 684
165, 766
233, 896
207, 899
106, 062
243,141
200, 844
223, 930
215, 706
104.214
260, 145
193, 696
219, 125
150, 643
99, 315
239, 091
182,928
228 192
148,196
105, 274
260, 284
183, 667
215, 902
157, 746
101,226
232, 061
185, 661
203, 021
146, 711
95,442
221, 050
169, 383
226, 121
208, 542
99, 442
211, 590
182, 431
210, 092
141, 224
81,572
199, 764
189, 132
197, 550
193, 546
79, 393
185, 154
182, 658
203, 527
247 291
75, 445
186 412
183, 282
382, 547
20, 084
123,611
5,315
35, 465
33, 282
38, 999
530, 833
7,578
335, 271
15, 120
121, 604
4,794
28,816
31, 237
29, 129
512, 143
5,538
405, 857
13, 101
150, 361
5,936
33, 458
44, 450
30,011
585, 985
9,789
422, 200
17, 662
148,425
8, 765
33, 938
44, 531
29, 572
575, 491
6,915
331,416
17, 390
87, 985
8,110
29, 106
42, 786
24, 240
559, 686
5,529
328, 978
17,282
88, 607
9,162
30,217
49, 431
22, 192
596, 635
6,468
327, 459
13, 754
102, 599
6,199
26, 445
43, 058
27, 815
565, 136
5,506
302. 602
9,343
92, 939
6, 502
21,683
43, 779
19, 485
533, 004
5,596
382, 158
7,551
155, 948
6,667
27, 375
40, 400
21, 774
545, 968
5,186
271,977
6, 250
90, 356
4,226
21, 881
20, 588
20, 546
549, 808
3,917
321, 877
5, 849
131, 057
4, 103
23, 177
15,937
16, 908
516, 424
3, 081
372, 263
23, 929
174 929
3,775
19 704
16,916
14 580
523, 695
7, 924
114,937
34, 452
30, 687
26, 031
46, 106
65, 360
119,542
43, 039
24, 555
24, 219
43, 841
67, 702
122, 919
36, 298
29,169
24, 039
49, 808
64, 539
127, 389
47, 099
24, 139
23, 677
51, 661
56, 802
118,906
44, 041
22, 652
25, 003
48, 600
62, 633
137, 901
52, 083
23, 259
27, 082
50, 828
61,049
113, 638
41, 501
19, 501
22, 828
48, 314
59, 554
100, 902
31, 074
17. 607
27, 800
51,934
58, 201
105, 726
35, 470
14, 815
25, 755
48, 122
67, 743
97, 177
31, 509
17, 840
26, 606
52, 514
64, 157
87, 639
19, 236
16,215
24, 712
49 444
67, 400
88, 697
19, 305
18 737
23 384
53 630
76, 506
TRANSPORTATION AND COMMUNICATIONS
TR AN SPORT ATION
Airlines
Operations on scheduled airlines:
Miles flown revenue
thousands
Express and freight ton-miles
flown
do
Mail ton-miles
flown
_ _ _
_do
Passengers carried revenue
__ _ _
do
Passenger-miles flown revenue
do
Express Operations
Transportation revenues
_ thous. of dol
Express privilege payments
do
Local Transit Lines
Fares average cash ratef
- cents
Passengers carried revenue
millions
Operating revenues
thous. of dol
Class I Motor Carriers (Intercity)
Carriers of property (quarterly totals) :§
Number of reporting carriers
Operating revenues total
thous of dol
Expenses total
do
Revenue freight carried
thous of tons
35, 931
14, 459
5,574
39, 550
42, 004
37, 681
39, 517
41, 782
40, 238
40, 935
33, 836
37, 707
37, 765
39, 361
14, 065
16, 380
13, 992
13, 650
13, 133
14, 967
14, 033
13, 426
14, 768
16 945
14, 485
5,829
5,874
5,541
5,352
5,346
5,400
5,971
6,313
5, 557
6, 134
8,834
2,238
2,354
2,059
2,265
2,385
2,409
2,334
1,828
1,845
2,321
2,015
2,083
1, 040, 706 1, 000, 839 1,154,796 1, 206, 462 1, 218, 245 1, 320, 710 1,305,097 1, 332, 565 1,261,366 1, 225, 997 1, 064, 211 1, 166, 586
30, 918
11, 253
29, 977
10, 698
35, 475
14, 210
33, 121
13, 527
31, 032
11,410
32, 613
12, 845
29, 890
10, 536
31, 162
12, 166
33, 728
14, 438
34, 161
15, 157
30, 626
11,918
38 974
16, 557
12. 5890
953
127, 300
12. 6716
892
120, 300
12.7330
1,004
130, 900
12. 7818
977
129, 200
12.8008
972
126, 600
12. 8432
927
121, 100
12. 8941
878
120, 500
12. 9386
831
121, 500
12. 9767
865
118,300
13. 0127
944
132, 900
13. 0657
885
127, 700
13 1843
946
142 200
1,066
583, 773
546, 096
32, 588
1,062
609, 769
574, 343
33, 563
13 2203
862
1 057
598, 401
574 547
32, 727
Carriers of passengers (quarterly totals):
168
166
166
Number of reporting carriers
102, 976
115, 868
86,813
Operating re venues, total
thous. of dol
89, 974
83, 840
95, 247
Expenses total
do
91, 406
84, 657
92, 853
Revenue passengers carried"
thousands _ .
T
Revised.
? Preliminary.
^Revisions for January-July 1952 will be shown later.
©Including Manchuria beginning January 1952.
§It should be noted that data for 1938-44 shown in BUSINESS STATISTICS (1953 edition) are not comparable with subsequent data in that volume and in the SURVEY beginning with the
October 1953 issue. The data through 1944 cover reporting intercity common carriers of all types of commodities, whereas later data are for carriers of general commodities only (i. e., they
exclude carriers of special commodities and intercity contract carriers). Data for 1945 for carriers of all types, comparable with earlier data, are as follows: Number of reporting carriers, 1,408;
operating revenues, $185,132,000; expenses, $184,708,000; revenue freight carried, 25,839,000 tons.
t'Data have been revised (beginning August 1945) to include fares charged by transit companies operating in cities having a 1950 population of 25,000 or over; revisions prior to August 1952
will be shown later.
March
SUKVEY OF CURRENT BUSINESS
1954
Unless otherwise stated, statistics through
1952 and descriptive notes are shown in the
1953 Statistical Supplement to the Survey
S-23
1954
1953
January
February
March
April
May
June
July
August
September
October
November
December
January
TRANSPORTATION AND COMMUNICATIONS—Continued
TRANSPORTATION—Continued
Class I Steam Railways
Freight carloadings (A. A. B.):cf
Total cars
_ _ __ _
thousands
Coal
do
Coke
do
Forest products
do
Grain and grain products _ _
__ do
Livestock
do ...
Ore
•
do
Merchandise, 1. c. 1
do
Miscellaneous
do
Freight carloadings (Federal Reserve indexes):
Total, unadjusted
1935-39=100
Coal
do
Coke _ ._
do
Forest products. _ _ _
_
do
Grain and grain products
do
Livestock
...
do
Ore
do
Merchandise, 1. c. 1 _
.. ..
do
Miscellaneous
do
3,352
631
75
203
219
40
96
318
1,770
2,731
470
61
173
159
26
78
274
1,490
2,802
451
59
175
170
27
83
288
1,549
2,957
455
55
179
166
32
245
281
1,544
3,883
626
71
217
215
41
438
346
1,929
3,204
540
56
186
219
29
369
268
1,537
2,964
397
50
172
236
25
378
257
1,450
4,022
678
64
238
254
38
473
347
1,930
3,153
532
49
176
198
40
361
271
1,526
4,024
668
63
222
279
76
377
359
1,980
2,797
485
47
168
188
47
179
259
1,423
2,413
451
43
150
155
32
68
236
1,279
2,967
584
49
175
208
37
SO
286
1,548
121
108
193
139
128
59
70
42
138
119
97
191
140
112
46
69
43
140
122
92
186
142
119
47
79
45
146
127
96
175
144
117
58
231
44
146
132
106
182
143
124
58
315
45
148
133
105
176
151
158
52
328
43
146
128
94
162
147
166
46
341
42
141
134
112
162
153
142
55
331
44
146
137
114
162
148
147
78
324
45
150
135
110
160
144
157
108
263
45
149
124
104
155
142
137
86
160
43
140
108
97
142
120
112
56
62
38
124
108
100
126
122
124
56
58
38
122
130
97
181
146
114
57
275
45
149
132
92
184
142
130
60
273
45
154
129
96
178
144
133
66
237
44
148
130
106
183
137
141
65
237
45
146
128
105
179
145
155
60
212
43
142
123
94
167
141)
138
66
213
42
139
130
112
169
145
131
58
221
44
145
126
114
164
137
131
59
216
43
139
126
110
163
136
157
70
172
44
137
122
104
155
145
140
69
172
42
134
117
97
135
135
119
58
201
40
132
120
100
120
136
124
58
231
39
133
69, 294
8,145
51, 776
1,376
768
194
73, 260
7,429
56, 584
1,745
976
203
58, 597
5,584
43, 375
1,501
602
341
40, 222
12, 461
16, 278
2,269
1,385
527
25, 302
7, 511
7,400
4,129
3,111
673
32, 717
2,315
23, 982
3.934
3,400
246
21,134
2, 761
9,715
2,486
1,769
525
11, 074
1,710
1,202
3, 546
2, 530
953
7, 173
730
1,609
4,346
3,326
915
25, 326
3,381
16, 656
1,388
1, 125
167
85, 002
17,637
56, 383
153
119
15
120,957
33, 501
79, 358
360
247
20
812, 968
684, 368
64, 738
621, 092
919, 617
779, 580
67, 052
1
696, 914
905, 605
765, 798
67, 093
1
673, 704
901, 634
763, 046
66, 880
680, 508
924, 362
776, 260
75, 342
688, 949
925, 949
773, 517
79, 704
701, 399
924, 754
773, 524
76, 799
689, 467
904, 263
763, 094
66, 111
673, 210
934, 304
794, 329
62, 747
693, 896
832, 363
702, 006
61, 766
657, 496
815,400
661, 347
74, 531
697, 038
749, 826
617,122
69, 994
626, 806
114,076
77, 800
55, 943
129, 134
93, 570
71, 997
130, 392
101, 509
77, 241
125, 733
95, 393
74, 420
135, 740
99, 673
79, 232
130, 122
94, 428
71, 988
133, 651
101, 636
81, 526
331,112
99, 942
80, 493
133, 076
107, 331
87, 679
96,310
78, 526
58, 960
40, 445
77, 917
72, 108
90, 446
32, 574
47, 714
1.502
2,389
53, 227
1. 536
2,491
52, 570
1. 523
2,499
56, 296
1.429
2,490
55, 194
1.474
2,830
53, 746
1.509
3,106
57, 490
1.416
2,965
54, 039
1.470
2,514
57, 276
1.453
2,367
49, 763
1. 466
2, 297
45, 166
1, 520
2,770
7,271
4,947
2,324
8,138
5, 524
2,613
9,238
6,036
3,202
9,895
6,613
3,282
9,574
6, 695
2,879
9,943
6, 755
3,188
9,552
6,702
2,850
9,793
6,699
3,093
9,388
6,488
2,900
8,654
5,776
2,878
3,009
947
3,233
1,168
3,182
1,256
3,153
1,064
3, 265
1,045
3,236
1,029
3,265
1,056
2,934
1,004
3, 115
1,058
3,104
952
3, 587
1,026
6.69
76
249
6.77
78
245
6.49
76
230
7.14
78
264
6.51
77
274
7.04
77
270
6.71
71
239
7.44
73
250
7.26
76
256
7.49
80
262
7.53
71
243
6.75
60
231
6.90
72
212
59, 980
63, 018
1,477
12, 699
26,700
253
63, 298
71, 506
1,476
10, 656
40, 199
328
74,917
76, 349
2, 236
13, 428
47, 501
419
69, 358
86, 172
2,314
13, 992
57, 560
599
69, 711
85, 632
1,945
14, 251
53, 901
1,030
83, 504
112, 186
2, 080
16, 089
44, 057
2,439
101, 430
119, 703
123, 344
91, 919
116, 023
69, 703
83, 717
56, 746
67, 611
50, 160
36, 929
4,004
26, 472
4,040
23, 999
2,005
21, 103
1,102
18, 351
434
21, 398
296
29, 009
286
919
11,610
741
9,388
748
9,817
696
9,132
656
8,622
693
9,120
656
8,652
627
8,268
614
8,076
644
8,447
593
7,760
612
8,010
374, 578
222, 116
124, 327
363, 949
219, 159
116, 260
378, 836
223, 607
126, 615
380, 115
225, 848
125, 153
385, 809
228, 180
128, 219
386, 901
228, 995
128, 304
388, 856
227, 324
131, 298
383, 186
225, 723
126, 940
385, 576
228, 827
125, 827
399, 936
234, 531
133, 915
395, 803
235, 545
128, 289
410, 793
240, 455
137, 870
260, 513
do
45, 507
do
thousands. . 42, 116
248, 719
46, 270
42, 298
264, 660
45, 385
42, 488
262, 177
47, 354
42, 670
278, 219
47, 103
42, 850
267, 821
47, 586
42, 956
279, 484
43, 386
43, 105
266, 141
46, 779
43, 234
272, 718
44, 997
43, 387
276, 315
50, 474
43, 582
271,313
50, 842
43; 750
289, 333
52, 273
43, 963
16, 937
15, 487
655
16, 033
14, 178
1,097
18, 245
15, 325
2,136
17, 710
15, 187
1,734
17, 977
15, 835
1,346
18, 401
15, 802
1,820
17,617
16, 332
528
17, 221
15, 709
816
17, 233
15,477
1,070
17, 340
15, 543
1, 157
15, 872
14. 570
689
17, 991
15,721
1, 668
2,456
1,875
360
2,293
1,778
296
2,617
1,869
512
2,276
1,846
229
2,257
1,855
194
2,315
1,777
333
2,344
1,946
180
2,370
1,803
355
2,574
1,820
522
2,609
1,951
428
2,487
1,836
442
2,892
1,946
704
2,453
2, 133
192
2,346
1,992
222
2,657
2,130
390
2,545
2,166
299
2,480
2,100
249
2,550
2,130
288
2,533
2,174
232
2,420
2,139
164
2,471
2,092
249
2,586
2,168
301
2,403
2,097
194
2,711
2, 3H1
226
134
Total, adjusted
.
do
108
Coal
do
184
Coke
do
154
Forest products .
.
__
do
128
Grain and grain products
do
62
Livestock
do.. _
278
Ore
do
44
Merchandise, 1. c. 1 _
._
__ do
151
Miscellaneous
do
Freight-car surplus and shortage, daily average:
79, 262
Car surplus, total
number__
21, 625
Boxcars
. __
. do
46, 558
Gondolas and open hoppers
do
827
Car shortage, total _
_
do _
564
Box cars
do
137
Gondolas and open hoppers
do
Financial operations:
'863,015
Operating revenues, total
thous. of dol
' 713, 740
Freight
do
' 79, 198
Passenger
__ ._
..do
Operating expenses
do. _ ' 661, 701
Tax accruals, joint facility and equipment rents
thous. of dol. . '121.244
' 80, 069
Net railwav operating income _
do
57, 595
Net income 1
do
Operating results:
51, 756
Freight carried 1 mile
mil. of ton-miles-.
1.458
Revenue per ton-mile
cents
Passengers carried 1 mile, revenue
millions. . 2,943
Waterway Traffic
Clearances, vessels in foreign trade:
8,065
Total U. S. ports
thous. of net tons__
5,715
Foreign
do
2,350
United States
do
Panama Canal:
3,037
Total
thous of long tons
940
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
_j g a i ane a i
e
ao
Passports issued
do
National parks, visitors
thousands
Pullman Co.:
Revenue passenger-miles
millions
Passenger revenues
thous. of dol._
COM M UNIC ATION S
Telephone carriers:
Operating revenues
thous of dol
Station revenues
do
Tolls message
do
Operating expenses before taxes
Net operating income
Phones in service, end of month
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
,
'Revised. l March data include operating expenses amounting to $17,700,000 which are applicable to the months of December 1952-February 1953; April data, $2,400,000 applicable to
December 1952-March 1953.
^Revised data for December 1952, $119,285,000.
cTData for January, May, August, and October 1953 and January 1954 are for 5 weeks; other months, 4 weeks.
SURVEY OF CURRENT BUSINESS
S-24
Unless otherwise stated, statistics through
1952 and descriptive notes are shown in the
1953 Statistical Supplement to the Survey
March 1954
1953
January
February
March
April
May
June
1954
July
August
Sep ,em3 er
Of>tnbpr
October
December
November
January
CHEMICALS AND ALLIED PRODUCTS
CHEMICALS
Inorganic chemicals, production^
Ammonia, synthetic anhydrous (commercial)
short tons
Calcium arsenate (commercial)
do
Calcium carbide (commercial)
_
do - _
Carbon dioxide, liquid, gas, and solid
do
Chlorine, gas
_ __do
188, 882
419
65, 788
44, 463
231,017
189, 644
534
68, 946
52, 950
233, 081
192, 424
216
69, 703
66, 194
241, 177
185, 194
(i)
65, 371
77, 859
235, 153
185. 51 5
0)
69, 603
83, 907
241, 110
193, 932
(i)
66, 498
82, 948
238, 619
195, 484
(i)
64, 860
73, 793
228, 826
198, 556
0
65, 562
58, 615
239, 360
194, 886
(i)
61 201
48, 238
227 830
199, 907
(i)
65, 499
48, 269
227, 040
65, 960
65, 890
65, 270
60, 570
66, 056
Hydrochloric acid (100% HC1)
do
964
1,144
1,194
709
1,444
Lead arsenate (acid and basic) _
. do
134, 352
156, 824
141, 444
146, 594
139, 178
Nitric acid (100% HNOs)
. _ _ do
2,278
2,197
2,182
2,336
2,161
Oxygen (high purity)
mil. of cu. ft
214, 811
199, 765
218, 427
210, 153
Phosphoric acid (50% HsPO^
short tons. . 207, 747
Soda ash, ammonia-soda process (98-100%
422, 365
432, 747
423, 755
438, 427
370, 735
Na2CO'0
.short tons
10, 534
9.234
8, 034
7,440
8,490
Sodium bichromate and chromate
do
269, 311
288, 216
274, 614
256, 482
278, 970
Sodium hydroxide (100% NaOH)
do
Sodium silicate, soluble silicate glass (anhydrous)
41, 181
54, 037
57, 708
49, 941
41, 950
short tons__
Sodium sulfate, Glauber's salt and crude salt cake
78, 422
79, 776
73, 221
81, 814
80, 383
short tons_.
Sulfuric acid:
1, 184, 405 1,116,994 1, 270, 151 1, 206, 913 1, 257, 882
Production (100% HjSOO.
do
Price, wholesale, 66°, tanks, at works
20.00
20.00
20.00
20.00
20.00
dol. per short ton__
Organic chemicals:
Acetic acid (synthetic and natural), production
42, 105
44, 211
33, 894
40, 688
39, 858
thous. of Ib-61, 361
71, 065
67, 380
67, 175
71, 448
Acetic anhydride, production
... do -1,342
1, 115
1,278
1, 195
1,120
Acetylsalicylic acid (aspirin), production do
Alcohol, ethyl:
43, 394
44, 681
46, 837
45, 013
46, 161
Production
.
___ thous. of proof gal
74, 492
78, 581
64, 238
84, 263
77, 701
Stocks, total
do
In industrial alcohol bonded warehouses
54, 872
55. 022
54, 592
56, 948
52. 686
thous. of proof gal__
23, 709
19, 470
9, 646
20, 753
31, 577
In denaturing plants
do __
35, 640
34,435
56, 224
40, 320
'•35,344
Used for denaturation
do
1,892
2,030
2,105
2, 171
1,815
Withdrawn tax-paid
do
Alcohol, denatured:
18,414
19, 201
30, 199
21, 659
19, 037
Production
thcus. of wine eal _
21, 845
23, 105
25, 169
17, 583
r 20, 223
Consumption (withdrawals)
do
8, 855
14, 909
9,689
10, 207
7,084
Stocks
do
14,015
12,386
11, 505
10, 813
12, 631
Creosote oil, production
thous. of gil
6.004
7,222
7,423
7,685
6,925
Ethyl acetate (85%), production
thous. of lb_.
Glycerin, refined (100% basis) :
High gravity and yelloAV distilled:
6, 993
6, 762
7,380
8,097
6,701
Production
do
6,787
7,092
6,866
6,276
6, 503
Consumption
do
14, 856
15, 912
15, 660
12, 697
12, 998
Stocks
.
do
Chemically pure:
14, 331
13, 276
14,722
13, 258
12, 181
Production
.
do_
7.698
7, 552
7,897
8,217
8, 233
Consumption
do
24, 049
21,323
20, 146
17, 644
16, 069
Stocks
.
do
Methanol, production:
204
192
184
148
153
Natural (100*7)1
thous of gal
12, 553
12, 469
13, 275
11, 890
14,027
Synthetic (100%)
do
18, 181
17, 519
21, 841
!8, 481
20 013
63, 342
822
134, 227
2,035
198, 325
62 463
63 425
0
144, 624
2, 125
214, 732
64 936
0
145, 824
2,034
202, 463
66 494
0)
159, 421
2 114
222, 797
64 029
140, 268
1,992
195, 728
157, 485
1 933
204, 545
62 806
278
164, 122
1,891
196, 595
390, 988
11,414
277, 495
408, 351
10,177
282, 175
414, 642
10, 273
274, 676
395, 896
8, 363
260, 747
408, 829
8, 580
276, 413
394, 015
7 954
262,119
378, 658
7, 752
260, 651
44, 433
41,270
44, 436
48, 050
64, 740
52, 489
43, 957
78, 818
75, 609
77, 869
78, 067
81,479
79, 857
72, 837
1,163,791
1,155,529
1,131,309
1,115,524
1,210,900
22. 35
22.35
22. 35
22. 35
22.35
22.35
22.35
40, 219
74, 568
1,117
48, S71
82, 359
959
44, 546
75, 406
1,111
40, 595
72, 051
1,071
36, 579
62, 567
1,298
36,515
49, 075
1,056
39, 760
51,786
987
40, 645
72, 519
39, 034
75, 501
31,934
71,878
28, 995
65, 274
29, 033
58, 565
30, 245
56. 514
26,312
54, 152
27 112
51 403
53, 812
18, 707
37, 469
2,206
53, 731
21,770
36, 557
2,106
50, 364
21, 514
35, 346
1,944
47, 978
17, 296
33, 538
2,218
41, 108
17, 457
34, 685
1,538
38, 322
18, 192
31, 583
1,194
35, 762
18, 390
27, 880
962
33, 204
18 199
28 122
982
20, 126
23, 309
6, 844
13, 570
8,200
19, 649
20, 890
5, 575
11,448
7,343
19, 058
17, 861
6,803
13, 683
4,995
18, 083
18,317
6,552
12, 272
7,356
18, 781
17, 109
8,230
12,114
6,478
17,057
16, 580
8 702
13, 533
5,165
15, 149
17. 451
6,412
11,485
5, 859
15 213
16 210
5 421
7, 653
6, 265
17, 999
5, 181
6, 037
16, 591
5, 235
6,400
15, 834
7,783
6,498
16, 529
6,103
6,883
15, 384
7, 135
6,136
16, 712
5, 798
5,630
17, 259
6,325
5, 820
17,464
12, 234
9,021
25, 774
10, 747
* 536
25, 580
12,797
8,899
25, 813
11,322
8,877
24, 605
15, 966
9,618
26, 142
11, 203
8,558
25. 144
15, 142
8,718
27, 689
1 2, 743
8,706
28,645
189
12. 683
18 059
146
14, 326
20 375
165
13, 861
19 659
139
13 603
18 459
126
13, 941
16 235
173
13, 974
18 848
165
14, 151
19 133
173, 857
926
61,913
43, 997
217, 261
188, 173
276
68, 391
51, 823
235, 596
0)
0)
1,207,586 1,166,896
r
p 22. 35
FERTILIZERS
Consumption (12 States) §
Exports total
Nitrogenous materials
Phosphate materials
Potash materials
thous of short tons
short tons
do
do
do
Imports total
do
Nitrogenous materials total
do
Nitrate of soda
do
Phosphate materials
do
Potash materials
do
Price, wholesale, nitrate of soda, crude, f. o. b. cars,
port warehouses
- dol per short ton
Potash deliveries. _ .
short tons..
Superphosphate (100% A.P.A.)d"
Production
short tons
Stocks end of month
_ _
do
924
140, 760
5,946
116, 482
6,637
1,324
161, 193
5,336
139, 696
9,161
2,030
199, 096
6,853
179,311
7,814
1,863
227, 068
14, 628
201, 527
6,734
910
230, 296
5, 650
214,016
6,101
426
311, 892
7,367
295, 012
5,463
203
272, 139
6, 425
254, 557
5, 507
2 228
306, 740
5,484
287, 477
6,913
2 304
227, 107
5,063
202, 022
7,958
2
429
307, 471
15, 029
274, 173
6,967
2 362
248, 717
7 023
223, 316
6,831
2
399
302, 167
38, 206
252, 284
7,325
232, 080
180, 359
41, 722
12,400
27, 654
296, 708
245, 377
37, 565
4,521
30, 831
364, 728
291, 591
75, 600
11,610
29, 031
417, 574
330, 194
88, 419
11, 527
40, 955
299, 677
239, 888
92, 119
5,080
13, 819
249, 670
205, 411
86, 555
10, 978
10, 423
168 940
132, 082
19, 489
8,434
14, 686
166 587
133, 866
22, 949
8,694
9,288
179 010
139, 272
7 561
7,813
10, 732
207 352
142, 088
0
19,907
21, 597
152 784
112, 153
39 832
8,783
18 320
183 504
143, 369
45 769
9,553
20 864
57.00
139, 339
57.00
167, 733
57.00
214, 470
57.00
183. 982
57.00
142, 816
57. 00
108, 479
57.00
130, 816
57.00
133. 370
53. 00
132, 228
53. 00
117,982
53. 00
123,839
174, 796
279, 846
174, 494
257, 996
200, 068
206, 673
215, 197
163, 678
196, 945
181, 727
164, 600
214, 636
151,444
231, 501
160, 579
243, 112
160, 518
247, 530
168, 338
245, 537
53.00
125,933
p 53. 00
155,234
157, 845
168, 768
262, 781 ••281.318
181,074
301,462
r
NAVAL STORES
Rosin (gum and wood) :
769, 520
927 010
Production semiannual total
drums (520 Ib )
3 859, 380
911 120
Stocks end of period
do
Price, gum, wholesale, "WG" grade (N. Y.), bulk
8.60
8.60
8.80
8.80
8.45
8.35
8.75
8.85
8.90
9. 00
8.70
8.60
p9. 00
dol. perlOOlb.'Turpentine (gum and wood) :
233, 670
297 270
Production semiannual total
bbl (50 gal )
3 228, 880
213 770
Stocks end of period
do
.60
.60
.60
.60
.59
.59
p. 61
.59
.59
.60
.61
.59
.59
Price, gum, wholesale (N. Y.)
dol. per gal..
r
1
Revised.
» Preliminary.
Not available for publication.
» Data for 10 States, excluding Indiana and Missouri.
3 Revisions for March 1952: Rosin, 722,580 drums; turpentine,
194,450 bbl.
^Revisions prior to September 1952 will be shown later.
{States represented are: North Carolina, South Carolina, Georgia, Florida, Alabama, Tennessee, Arkansas, Louisiana, Texas, Oklahoma; prior to August 1953, also Indiana and Missouri.
According to quarterly reports from Virginia and semiannual reports from Kentucky, consumption in those States is as follows (thous. short tons): Virginia—1952—July-September, 90; OctoberDecember, 100; 1953—January-March, 319; April-June, 322; July-September, 79; October-December, 80; Kentucky—1952, July-December, 225; 1953, January-June, 453.
d"Prior to the October 1953 SURVEY, data were shown in short tons of 18% A. P. A. (available phosphoric acid)
« Revision for November 1952: 34,230 thous. gal.
SUEVEY OF CURRENT BUSINESS
Jlnrcli 1!>:>4
S-25
1954
1953
Unless otherwise stated, statistics through
1952 and descriptive notes are shown in the
1953 Statistical Supplement to the Survey
January
February
March
April
May
June
July
August
September
October | No^m-
December
January
971
1,027
54 621
1,061
52, 752
CHEMICALS AND ALLIED PRODUCTS—Continued
MISCELLANEOUS
Explosives (industrial), shipments:
Black blasting powder
thous. of l b _ _
High explosives
do
Sulfur:
Production
._ _ _ thous. of long tons. .
Stock^
do
1,056
56. 212
812
710
634
553
56, 871
58, 876
63, 170
64, 562
64, 765
419
3, 130
382
472
480
3, 089
3, 043
3,001
455
2,867
113.586
460, 719
343, 522
127,834
453, 996
344, 181
128,956
449, 299
331,952
125,007
443, 138
57, 636
39, 197
117,840
51,541
35, 222
115, 820
51,090
40, 361
109,800
17, 820
76, 380
14,599
65, 644
572
551
579
61,167
754
918
68, 135
67, 850
424
2,960
451
3,037
370
438
437
2 920
3 059
3 057
3 023
3 022
3 090
311,131
126, 654
431, 798
300, 366
116,414
413,191
291, 364
101, 330
380, 414
276, 369
107, 346
318, 383
282 060
121, 630
280, 903
334 269
135. 312
249, 836
367, 294
129, 469
252, 586
362 958
128. 535
264, 848
354, 916
124.832
269, 246
52, 056
34, 996
105, 854
52, 336
33, 926
105, 053
50, 838
32, 625
99, 715
46, 140
23, 966
106, 866
45, 152
31,879
103, 388
43, 702
30, 324
102, 327
47, 945
36, 705
91, 557
51, 774
35, 930
86, 410
48, 359
29, 443
81, 970
49, 251
27, 084
83, 322
244
11,930
51,459
1,844
11,443
47, 180
8,000
12, 989
46, 731
18,087
10, 672
46, 797
27, 357
11,148
51, 287
28, 839
10, 246
74, 408
30, 052
12, 035
90, 397
15, 939
12, 762
92, 126
2,933
11,138
79, 383
5, 296
9 302
72, 711
9,070
68, 768
488
510
457
415
369
322
525
458
446
379
546
378
451
521
618
426
476
559
569
1,147
1,112
1,102
1,074
1,044
1,052
1,072
985
1,095
970
1,077
912
1,052
925
1,050
959
1, 083
943
1,148
18,102
33, 909
441
33, 468
1 7, 699
25. 247
17, 756
32, 716
2, 193
30, 523
34, 726
33, 438
2,028
31,410
57, 676
38, 229
8, 186
30, 043
80
44
7
36
29, 498
17, 895
37, 371
33, 743
16, 198
29, 423
27, 497
13, 272
25, 371
27 066
12 504
27 274
30, 074
15 715
37, 129
31, 763
43, 066
28, 843
35, 028
25, 938
35 294
26, 569
38 337
27, 982
47, 498
29, 108
46, 845
27, 356
42, 548
23, 010
42 673
22, 369
4'2. 951
22, 544
46, 250
9, 540
10, 975
53,116
1 1, 260
12, 258
54, 809
13, 650
17, 550
66 970
13, 843
15 868
67 277
16, 249
1, 323
510
1,064
1,860
778
2, 146
1,397
763
2,780
'801
718
2 865
237
712
2 390
503
419
1,000
70 924
416
431
62 886
FATS, OILS, OILSEEDS, AND
BYPRODUCTS
Animal fats, greases, and oils:
Animal fats:
Productiont
thous. of Ib
Consumption, factory
do
Stocks end of month _ _
do
Greases:
Production
do
Consumption, factory. _
_.do_ ...
Stocks end of month
do
Fish oils:
Production $
do
Consumption factory
do
Stocks end of month
_
do
Vegetable oils, oilseeds, and byproducts:
Vegetable oils, total:
Production crude t
mil of Ib
Consumption, crude, factory J
do
Stocks, end of month :J
Crude
do
Refined
-.
.. do
427, 887
486
777
872
967
18, 714
18,942
15,467
15,915
24, 499
Kxports
thous o f l b
34, 838
44, 941
60, 054
39, 291
30, 146
Imports, total
do
1,194
2,
336
2,481
2,644
877
2,826
Paint oils
do
33, 644
24, 369
42, 604
36, 647
57, 573
27, 320
All other vegetable oils
__
do
Copra:
23, 958
19,014
28,611
27, 095
31,031
25, 546
29, 421
28, 337
Consumption, factory
short tons
15, 997
18, 786
17,729
14,416
11,277
Stocks end of month
do
21, 759
26, 583
19, 969
18, 883
24, 683
72, 839
29, 029
38,517
Imports
do
Coconut or copra oil:
Production:
31,280
34, 491
24, 232
32,318
36, 332
39, 520
37, 590
35, 997
Crude
thous. of Ib
26, 372
27, 041
29, 174
26, 959
29, 922
26, 942
29, 970
31, 411
Refined
do
Consumption, factory:
39,125
42, 439
45, 998
43, 527
44, 820
41,591
45, 273
45, 597
Crude
-- do
22, 478
24, 030
23, 063
25, 409
27, 093
23, 201
27, 053
27,318
Refined
.. .
do
Stocks, end of month:
44, 552
30, 782
41,411
38, 685
41, 803
36, 744
41,113
37, 393
Crude
do
8,732
8,241
8,759
7,677
7,429
8,809
7,723
9, 019
Refined
_ . _ . do
8,
013
10,
846
5,298
9,896
9,
069
19,011
7,079
11, 774
Imports
do
Cottonseed :J
222
100
14
113
28
44
38
276
Receipts at mills
--thous. of short tons..
155
655
266
208
550
480
377
Consumption (crush)
_do
182
155
1,391
361
1,827
614
949
197
Stocks at mills, end of month
do
250
Cottonseed cake and meahj
310, 755
262, 173
75, 673
231, 782
181, 730
129, 515
99, 667
86, 379
Production
short tons
210, 115
208, 612
194,047
178,690 i 140, 897 i 122, 619 i 91, 549 i 69, 948
Stocks at mills, end of month§__
.
do
Cottonseed oil, crude:?
55, 418
211,130
180, 541
133, 124
95, 387
74, 529
165, 269
57, 397
Production
thous of Ib
42, 451
178, 757
115, 605
84, 671
170,739
149, 973
56, 418
Stocks end of month
do
37, 830
Cottonseed oil, refined:
185, 476
173, 738
159, 289
119,424
67, 740
96, 142
169, 882
59, 998
Productiont
-do
104, 450
92, 053
79, 258
68, 663
99, 752
90, 754
75, 610
83, 622
C onsump tion, factory t
do
r
18,144
15,
664
29,016
25,
899
17,
430
23,
109
19,
744
16.
724
In margarine t
- - do
916, 453
928, 561
627, 573
881, 275
723, 763
811,815
935, 273
Stocks, end of month §J _ _.
do
918, 585
.233
.220
.228
.233
.
179
.233
.233
Price, wholesale, drums (X. Y.)._-dol. per lb._
.206
Flaxseed:
Production (crop estimate)
thous. of bu
Oil mills:
1,221
1,680
1,609
Consumption
do
2,627
2,065
1,924
2, 200
1,311
2,064
2,063
4,355
2,136
Stocks, end of month
do
3,679
2,822
1,449
1,738
3.84
3.76
3.50
4.04
3.90
3. 95
3. 65
Price, wholesale, No. 1 (Minn.)
dol. per bu_.
3.56
Linseed oil, raw:
34, 663
24, 497
26, 764
51, 336
41, 300
39, 027
31,975
43, 904
Production
thous. of l b _ _
45, 511
41, 602
42, 864
42, 697
41, 599
43, 085
41,131
49, 644
Consuinption, factory
__ __ _
do
575, 613
643, 703
599, 768
641, 675
636, 113
626, 180
588,812
562, 033
Stocks at factory, end of month.
do
.138
.152
.150
.146
.151
.145
Price, wholesale (Minneapolis)
dol. per lb-.148
.142
Soybeans:
Production (crop estimate)
thous. of bu
20, 670
16, 338
Consumption, factory
do
20, 437
19, 201
17,291
21, 550
18, 679
18, 684
44, 764
34, 380
18, 865
65, 741
Stocks, end of month
. .
do
49, 613
26, 905
7,613
55, 817
Soybean oil:
Production:
208, 414
226, 293
231,000
221, 783
190, 086
179, 503
208, 660
200 412
Crude
thous of Ib
175, 291
202, 969
198, 287
185, 566
155, 987
186, 396
203, 529
200, 180
Refined
do
162, 942
195, 424
182, 488
166, 319
155, 641
190, 474
191, 992
Consumption, factory, refinedt-do
175,466
Stocks, end of month:
156,951
190, 873
166, 204
166, 767
176, 495
161, 242
156,308
158,194
Crude
- do
93, 779
87,118
103, 952
100, 864
106, 456
82, 103
88, 275
98, 342
Refined t
do
.208
.191
.191
.208
.208
. 208
.208
.166
Price, wholesale, refined (N. Y.)___dol. per lb,_
r
2
Revised.
*> Preliminary.
1 See note marked "§".
December 1 estimate.
{Revisions for January-September 1952 will be shown later.
§Includes stocks owned by the Commodity Credit Corporation (beginning May 1953 for cake and meal and beginning 1952 for refined
18,875
33, 521
554
32, 966
241, 458
i 112, 687
1
r
r
r
581
840
613
592
536
541
1, 025
1,323
'997
' 1, 256
r
988
439
453
986
371, 321
361, 549
163, 838 i 163, 022
1
340 919
109 700
249 924
143, 804
r
232 230
148 742
1
334 973
109 229
157, 634
89, 090
251, 701
134, 001
97, 992
89, 270
18, 144
927, 026
.190
179, 751
221,226 r 200 423
183 279
133, 253
151,011
131,421
135, 286
29, 477
30, 204
35 314
30 952
966, 498 1, 016, 037 '1,109,455 1,152,554
.204
.211
. 206
"200
r
234 465
183 105
2 3g 813
2 452
1,943
3.85
2 849
4,720
3.88
2 157
5,164
3.93
o 731
4 758
4.02
3 551
4 173
4.00
48, 842
45, 690
558, 139
.156
57, 003
42, 043
556, 874
.160
39, 685
35, 747
531, 901
.160
54, 274
35, 655
517 554
.153
69. 688
46 254
481 025
J-150
15, 652
16, 631
21, 284
61, 401
20, 284
61, 710
262 341
20, 758
58 531
20, 778
54 485.
173 756
212, 568
218, 495
229 966
214, 418
218, 608
219, 304
192, 662
188, 028
226 320
172, 446
163, 834
228 433
191 788
174 010
88, 437
74, 423
.196
122, 021
80 822
.197
142 947
99 4(5$,
v. 192
2
105, 352
69 052
.170
oil).
87, 907
62, 353
.188 '
SURVEY OF CURRENT BUSINESS
S-26
March 1954
1954
1953
Unless otherwise stated, statistics through
1952 and descriptive notes are shown in the
1953 Statistical Supplement to the Survey
January
February
March
April
May
June
July
August
September
October
November
December
January
114, 574
19, 350
136, 217
16,382
107, 419
22,021
107, 291
21, 779
131,959
23, 393
CHEMICALS AND ALLIED PRODUCTS—Continued
FATS, OILS, ETC.—Continued
Vegetable oils, oilseeds, and byproducts— Con.
Margarine:
Production^
thous. of lb__
Stocks (factory and warehouse) cf
do
Price, wholesale, vegetable, colored, delivered
(eastern U. S.)
dol. p e r l b _ _
Shortening:
Production
thous. oflb.
Stocks end of month
do
126, 580
23, 412
114, 037
25, 364
113, 501
23, 911
93, 279
23, 105
89, 896
20, 817
103, 203
20, 246
89, 753
23, 366
96, 053
18, 372
.284
.284
.284
.284
.284
.274
.274
.274
.264
.264
.283
.283
p. 283
141, 878
87, 976
134, 857
97, 290
137, 161
92, 646
141, 998
108, 894
118, 229
127,912
106, 815
126, 538
105, 858
113, 700
130, 906
100, 911
152, 322
89, 440
172, 988
84,703
191, 747
75, 793
139, 943
93, 926
132, 504
92,000
107, 729
42, 960
64, 769
106, 176
43, 788
62, 388
121, 132
49, 645
71, 487
129, 534
52, 035
77, 499
131,004
52, 352
78, 652
133, 275
50, 970
82, 305
124, 953
48, 641
76, 312
121, 687
47, 970
73, 717
119, 213
45, 793
73, 420
116, 432
46,734
69, 698
98,539
40,709
57,830
92, 603
40, 237
52, 366
2,360
5,992
610
532
2,575
6,207
593
521
3,348
7,102
706
713
3,184
7,044
659
602
3,243
6,073
662
683
3,590
6,770
691
594
2,718
5,349
522
476
2,848
6,259
597
449
3,387
7,393
644
427
3,664
7,478
r
650
'441
2,999
5,803
633
401
3,483
6.226
630
486
35, 305
32, 938
17, 883
44, 506
32, 978
8,705
21, 788
32, 975
34, 374
16, 196
41,028
31, 228
8,246
21, 304
40, 843
40, 233
20, 111
46, 721
36, 439
9,420
22, 946
41, 551
35, 764
18, 498
46, 295
34, 274
8,882
22,458
38, 299
39, 374
19, 856
46, 790
32, 980
8,700
23,204
37, 633
36, 013
19, 442
44, 884
32, 600
8,480
23, 870
32, 362
32, 399
13, 745
40, 392
31, 420
10, 555
19, 176
35, 299
38, 672
16, 347
43, 592
28, 809
9,399
19, 268
38,266
32 807
17, 010
40, 381
28,548
8,375
22, 055
35 895
28 717
17 635
41, 170
31 922
10 161
24 970
' 32 348
' 25 760
17 839
39, 129
«• 27 693
••9 627
26 351
30 265
25 910
16 955
37, 357
30 673
9,543
26 099
PAINTS, VARNISH, AND LACQUER §
Factory shipments, total
Industrial sales
__
Trade sales
-_
thous. of dol
-- - - do .
do
SYNTHETIC PLASTICS AND RESIN
MATERIALS
Production:
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 acid resins
Polystyrene
Urea and melamine resins
Vinyl resins
. _ __
Alkyd resins
Rosin modifications
_ _ ._ . .
Miscellaneous resins
do__
do
dodo
do_
do
do
r
ELECTRIC POWER AND GAS
ELECTRIC POWER
Production (utility and industrial) , total t
mil. of kw.-hr__
Electric utilities, total _ _.
. . . do
By fuels
do
By water power
, .
do
Privately and publicly owned utilities
mil. of kw.-hr..
Other producers
_
do-_
Industrial establishments, total
do
By fuels
do.
By water power
. _ _ __ do
Sales to ultimate customers, total (Edison Electric
Institute) J
mil ofkw.-hr
Commercial and industrial:
Small light and power -do
Large light and power
do _
Railways and railroads
-.
, -do
Residential or domestic
.
do
Rural (distinct rural rates) - .
do
Street and highway lighting
do
Other public authorities . .
do
Interdepartmental
do
Revenue from sales to ultimate customers (Edison
Electric Institute) t
thous. of dol
42, 656
36, 663
27, 402
9,261
39, 165
33, 597
24, 603
8,995
42, 993
36, 969
26, 771
10, 197
41, 510
35, 627
25, 923
9, 705
41, 995
35, 982
25, 695
10, 288
42, 733
36, 827
27, 732
9,095
43, 927
38, 030
29 276
8,755
44, 497
38, 497
30 043
8,454
42,923
37 038
29 449
7 589
43,751
37 614
30 477
7 137
42, 317
36 378
29 471
6 907
45, 052
39 062
30 395
8 668
45, 478
39 423
30 524
8*899
31, 432
5,231
5,994
5,571
423
28,431
5,166
5,567
5,149
418
31, 249
5,720
6,024
5,572
452
30, 239
5, 388
5,882
5,426
456
30, 294
5,688
6,013
5,578
435
31,317
5, 510
5,905
5,511
395
32, 209
5 821
5,897
5 563
334
32, 331
6,166
6,000
5,718
282
31, 285
5 752
5 886
5 611
275
32, 252
5 361
6 137
5 853
284
31, 199
5 179
5 939
5 658
280
33, 480
5 582
5 990
5 624
366
33, 227
6 196
6 055
5 664
391
31, 616
30, 875
31, 664
31, 346
30, 991
31, 358
31,951
33, 031
32, 794
32 450
32 051
33, 040
5,594
14, 810
475
9,081
540
363
720
33
5,411
14, 741
440
8,627
575
327
718
38
5,345
15, 684
462
8,383
683
325
734
49
5,287
15, 663
436
8,033
854
290
731
51
5,356
15, 749
412
7,614
809
272
727
53
5,620
16,037
394
7,438
801
255
758
55
6,081
15, 942
380
7,479
1,006
259
752
52
6,253
16, 583
371
7, 546
1,180
283
757
56
6,191
16 343
369
7,651
1,120
309
759
52
5 917
16 274
393
7 833
'870
345
772
46
5 785
15 794
401
8 248
645
367
767
43
5,927
15 765
445
9 104
583
394
778
43
569, 334
557, 643
560, 606
554, 637
549, 247
555, 798
566, 985
580, 126
575, 047
572, 316
571, 528
589, 705
GAS
Manufactured and mixed gas (quarterly):!
Customers, end of quarter, total
thousandsResidential (incl. house-heating),.
do
Industrial and commercial
do
Sales to consumers, total
. .. mil. of therms
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) :J
Customers, end of quarter, total -.. -thousandsResidential (incl. house-heating) _
do
Industrial and commercial- __
_do_ .
.Sales to consumers, total
... .mil. of therms. .
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 commercial
do
r
6,552
6,081
467
1,095
748
336
6,508
6,049
455
813
485
319
6 434
5 982
450
539
263
268
146, 648
108, 093
37, 524
111, 643
78, 965
31, 899
80 574
54, 049
15 939
19, 690
18, 078
1,591
16, 249
6,757
8,855
19, 721
18, 138
1,562
12, 606
3,510
8,541
19, 849
18 310
1 518
10, 502
1 435
8 405
756, 107
477, 947
265, 043
524, 442
280, 128
232, 779
371,928
148 604
210, 248
Revised.
* Preliminary.
cf Revisions for production (September 1951-September 1952) and for stocks (December 1951-September 1952) will be shown later.
§ Re visions for 1952 appear in the September 1953 SURVEY; those for 1951 will be shown later.
{Revisions for 1952 for electric-power production and for gas are shown in the October 1953 SURVEY; those for electric-power sales and revenues, in the October and November 1953 issues.
SURVEY OF CURRENT BUSINESS
March 1954
Unless otherwise stated, statistics through
1952 and descriptive notes are shown in the
1953 Statistical Supplement to the Survey
S-27
1954
1953
January
February
March
April
May
June
July
September
9 458
8 905
11, 005
August
October
November
December
January
8 339
8 757
10, 013
7 606
6 941
10 091
5 649
5 644
9 830
5 954
6 176
9,223
5 797
5 162
9,498
FOODSTUFFS AND TOBACCO
ALCOHOLIC BEVERAGES
Fermented malt liquors:
Production
thous of bbl
Tax-paid withdrawals
do.
Stocks, end of month
.
do
Distilled spirits:
Production
-thous. of tax gal_.
Consumption, apparent, for beverage purposes
thous. of wine gal. .
Tax-paid withdrawals
thous. of tax gal
r
Stocks, end of month _
do
Imports
thous. of proof gal
Whisky:
Production
thous. of tax gal. .
Tax-paid withdrawals
do
r
Stocks, end of month
_.
do
Imports
thous. of proof gal
Rectified spirits and wines, production, total
thous. of proof gal. .
Whisky
. _
do
Wines and distilling materials:
Sparkling wines:
Production
thous. of wine gal.
Tax-paid withdrawals
do
Stocks, end of month
_
do
Imports
do
Still wines:
Production
do
Tax-paid withdrawals
. . . . . do
Stocks, end of month ._
do
Imports
do
Distillin^ materials produced at wineries _.do
6,621
5, 707
9,606
6, 191
5,630
9,789
7,683
6,658
10, 324
8 167
7,198
10, 720
7 791
7,118
10,905
8 753
8 083
11, 062
10, 321
9,548
12, 539
12, 116
11, 812
11, 469
9,632
7,282
15, 375
28, 896
19, 754
15, 930
13,120
13, 398
8, 868
892, 356
1,183
13, 597
9,124
890, 328
1,302
14, 785
11,311
887, 827
1,735
15, 277
10, 785
886, 619
1,469
16, 139
10, 799
884, 315
1,636
14, 686
10 839
881, 824
1 594
14, 306
9,735
878, 764
1,521
14, 024
9,371
873, 616
1 490
16, 341
12 633
867, 166
2 159
18, 731
17 257
861,353
2 967
19 465
16 690
857, 234
2 743
22, 805
10 479
859, 297
2 207
8 650
861, 381
6,836
5,320
734, 247
1 063
6,939
5,307
733, 138
1, 185
8,295
6,149
732, 448
1,639
8,053
5 917
731, 757
1 337
7,232
5 608
730, 843
1 504
7,674
5 499
730, 916
1 465
5,680
4 793
729, 729
1,415
3,974
5 241
725, 979
1 350
7,263
7 301
722 169
1 970
10
9
718
2
094
406
330
773
9 435
9 102
715 087
2 524
9,270
5 982
716, 439
1 990
8,301
4 878
717, 441
' 6, 097
5, 090
6, 634
5,721
8,313
7,217
7,683
6,500
7,934
6,659
8,047
6 739
6, 902
5,636
6,248
5,171
8,930
7 740
11, 470
9 964
10, 668
9 455
6,885
5,850
5,533
4 634
151
97
1,183
33
73
68
1, 178
23
101
88
1, 185
40
249
86
1,343
39
151
101
1,386
44
148
97
1 427
46
82
67
1, 435
31
112
95
1,448
30
106
131
1,416
45
1,320
1 186
1, 052
88
121
2 442
10, 303
215, 550
396
2,786
1,265
9,963
205, 265
295
722
1,212
12, 161
191, 805
478
1,075
1 097
11, 739
179, 567
486
1,561
1 221
10, 938
169, 669
409
534
1 126
9 804
158, 739
453
674
876
7,098
152, 280
409
1,839
1,679
8,576
143, 810
325
4,020
17 237
10, 979
149, 723
425
44, 669
64 847
12, 819
206, 868
20 755
12 440
214, 956
4 148
12 966
202, 631
128, 626
35, 234
4,971
122 585
132, 790
.668
133 995
149, 876
.659
156 550
193, 609
.658
157 010
257, 447
.656
138, 085
309, 894
.656
119 645
334, 853
.661
96 730
323, 077
.670
92 375
311, 574
.682
90 765
290, 598
.676
108 240
281, 702
.666
118 465
293, 842
.659
105 285
78, 875
232, 255
201, 425
4,912
118 535
92 625
262, 606
231 524
4,503
149 075
118 645
313, 276
279 886
4,944
151 415
121 645
373, 855
339 812
4,183
128 460
102, 000
420, 281
385, 445
2,121
114 330
88 730
445, 575
410 733
2,824
97 500
72 450
460, 488
426 383
5,540
87 775
61, 505
448, 787
416, 095
3,602
82 390
91 175
56 230
63 225
432, 325 ' 432, 008
400 983 r 401 168
7,186
5 860
98 735
72 135
425, 354
395 494
.411
.407
.408
.406
.405
.405
.407
.424
.427
.415
403
4,275
202, 200
4,425
243, 500
5,285
323, 000
3,775
327, 900
2,710
262, 400
2,390
228, 500
2, 300
170, 000
3,000
162, 200
3,175
152, 500
1,800
155 700
2,350
163 600
9,489
' 7, 041
7 849
9 579
8 688
' 237, 039 ' 262, 601 ' 365, 232 475, 333 '511,683
6 066
524, 007
5 123
5 248
481, 196 ' 410, 255
6 047
339, 808
4 897
262, 913
4 753
192, 760
128
14, 427
747
6 119
r
T
9 905
9,210
11, 104
96
174
81
198
76
197
186
699
500
707
DAIRY PRODUCTS
Butter, creamery:
102 960
Production (factory) !
thous of Ib
106 000
99, 557
85, 737
Stocks, cold storage, end of month
do
.670
.668
Price, wholesale, 92-score (New York)__dol. per lb._
Cheese:
87 025
84 975
Production (factory) total!
thous oflb
59, 935
58, 375
American whole milk!
do
227, 499
218, 371
Stocks, cold storage, end of month, total. ..do
194 286
186, 776
American whole milk
do
6,982
3,559
Imports
-_ - . do
Price, wholesale, American, single daisies (Chi.422
.427
cago)
-dol. perlb
Condensed and evaporated milk:
Production , case goods:!
5,025
4,250
Condensed (sweetened)
thous. of lb._
169, 800
158, 400
E vaporated (unsweetened)
do
Stocks, manufacturers', case goods, end of month:
10 154
8 662
Condensed (sweetened)
thous of Ib
' 313, 794 262, 904
Evaporated (unsweetened) __
do
Exports:
2,334
1,527
Condensed (sweetened)
_ .
do.. .
8,956
7,785
Evaporated (unsweetened) do
Price, wholesale, U. 8. average:
6.21
6.27
Evaporated (unsweetened)
dol. per case..
Fluid milk:
r
8, 555
'8,800
Production!
-mil. oflb
r
3, 452
3,346
Utilization in mfd. dairy products
...do
5.50
5.40
Price, dealers', standard grade
dol. per 100 Ib..
Dry milk:
Production:!
7.535
7,325
Dry whole milk
thous. o f l b
Nonfat dry milk solids (human food)
do
77, 850
81, 200
Stocks, manufacturers', end of month:
r
15 412 r 12 794
Dry whole milk
do
Nonfat dry milk solids (human food")
do.... r 132, 491 •• 129, 057
Exports:
3,495
Dry whole milk
do
2,850
Nonfat dry milk solids (human food)
do
2,706
1,690
Price, wholesale, nonfat dry milk solids (human
.163
.160
food), U. S. average
dol. per lb..
2,423
11, 106
1,969
8,827
2,718
13, 439
539
14, 848
5.96
5.92
5.79
2,916
11, 957
937
10, 449
1,085
13, 997
658
11, 337
r
5.76
5.81
5.79
5.80
5.85
5.82
5.76
11 603
4,742
4.98
' 10 624
4,146
5.06
'9 306
3,374
'5.15
'8 878
3 174
5.20
'8 359
3 062
5.23
r g 907
3 505
5.18
9 172
3 789
5.11
10 050
114, 750
10 052
91 900
' 8 620
67 050
9 000
65 150
8 420
68 290
7 970
94 250
6 360
103 350
r
13 211 r 13 402 r 14 907 r 14 423 r 13 560 ' 14 110 r U 512 r U 716
' 133, 159 ' 129, 097 ' 154, 021 ' 156, 892 ' 131, 826 ' 114, 632 ' 84, 421 r 67, 925
11 316
' 67, 893
10 220
' 74, 094
9 60^
81, 056
6.12
' 10. 191
4', 059
5.27
8,800
111,250
r
' 10 910 ' 12 637 ' 12 449
4,522
5, 435
5, 492
4.92
5.05
4.87
r
8 750
129, 600
r
9,450
154, 750
r
9 375
144 300
r
5,371
2,260
3,824
8,073
3,394
7,832
2,920
5,131
4,378
14, 323
6 105
7,801
3 648
3,676
3,014
4,854
3 004
15, 357
4 844
7,004
.158
.153
.149
.147
.146
.146
.147
.149
.152
.153
2,671
10, 775
2,762
6,386
2,290
3,278
' 1, 535
1,377
655
306
'279
128
180
509
706
7,887
10, 891
'11,293
Ml, 320
.152
FRUITS AND VEGETABLES
Apples:
Production (crop estimate)
thous. of bu_.
Shipments, carlot
no. of carloads..
Stocks, cold storage, end of month. -thous. of bu_.
r
2, 590
15, 265
Citrus fruits, carlot shipments
no. of carloads.. r 10, 948
Frozen fruits, stocks, cold storage, end of month
thous. oflb.. 481, 129
Frozen vegetables, stocks, cold storage, end of
month
_ thous. o f l b
494, 893
Potatoes, white:
Production (crop estimate)
thous. of bu
Shipments, carlot
no. of carloads.. ' 23, 384
Price, wholesale, U. S. No. 1 (New York)
dol. per 100 lb_.
5.369
496, 233
450, 265
20, 694
5.317
' 12, 370 ' 12, 383
9,360
' 6, 582
' 6, 947
' 3, 720 ' 2. 568
' 25, 331
29, 444
' 6, 805
' 5, 981
i 92 584
' 2. 795
r
19, 894
r
12, 583
449, 348
441, 235
456, 980
487, 259
568, 132
602, 001
580, 867
581, 706
r
419, 899
384, 285
361 217
384 292
468 377
573 601
688 353
737 427
r 722 109 r 704 586
' 25, 201 ' 15, 744 ' 11, 860 ' 15, 797 ' 17, 865
i 373 711
' 14, 728 r 15, 412
r
24, 911
3,969
' 19, 499 ' 19, 171
4.013
4.085
2.917
2.230
3.165
3. 060
3.325
571, 762 ' 568, 905
3.313
' 3. 050
2, 356
14, 895
10, 076
592, 163
609 171
20, 368
p 2. 980
f
*> Preliminary.
Revised.
i December 1 estimate.
! Re visions
i prior to December 1952 are available upon request as follows: Beginning 1951 for cheese, condensed milk, and nonfat dry milk solids; beginning 1952 for butter, evaporated
milk, and dry whole milk. Revisions for January-December 1952 for fluid milk production (mil. Ib.): 8,151; 8,155; 9,430; 10,148; 12,073; 11,896; 11,027; 10,265; 9,131; 8,660; 7,884; 8,377.
SURVEY OF CURRENT BUSINESS
S-28
Unless otherwise stated, statistics through
1952 and descriptive notes are shown in the
1953 Statistical Supplement to the Survey
March 1954
1953
January
February
March
April
May
June
1954
July
August
Septem- October
ber
November
Decem- January
ber
FOODSTUFFS AND TOBACCO—Continued
GRAIN AND GRAIN PRODUCTS
Exports, principal grains, including flour and meal
thous. of bu__
Barley:
Production (crop estimate)
do
Receipts, principal markets
do
Stocks, domestic, end of month:
Commercial
do
On farms
do
Exports including malt
do
Prices, wholesale (Minneapolis):
No. 2, maltmo;
dol. per bu_.
No 8 straight
. . . do
Corn:
Production (crop estimate)
mil of bu
Grindings wet process
thous. of bu _
Receipts, principal markets
do
Stocks, domestic, end of month:
Commercial
do
On firms
mil ofbu
Exports, including meal
_ _- -thous. of bu__
Prices, wholesaler
No. 3, white (Chicago)
dol. per bu..
No 3 v°llow (Chicago)
do
Weighted average, 5 markets, all grades do
52, 516
39, 353
48, 094
38, 306
33, 654
30, 849
37, 260
32, 034
34, 992
30, 649
31,072
6,877
7,005
9,402
8,161
7,479
6,527
8,037
25, 503
18, 423
11,510
11, 902
10, 717
7,555
5,960
9,070
12, 188
12, 609
12, 222
thous. ofbu _
do
Exports including oatmeal
do
Price, wholesale, No. 3, white (Chicago)
dol. per bu__
1,374
2,161
1,096
1,064
6,949
2 25, 567
1,018
960
2,209
14, 631
148, 842
2,478
3, 865
2,175
12,659
107 770
151
1.581
1.456
1.495
1.395
1. 521
1. 459
1. 538
1. 446
1.531
1.387
1.440
1.265
1. 420
1.236
1. 511
1.374
1.479
1.344
1.516
1.417
1.515
1.438
1.513
1.436
1 . 520
1.474
10, 700
22, 037
10, 336
18, 195
11, 373
21, 403
11, 406
19, 601
11, 134
20, 621
11, 033
24, 690
9. 772
24, 231
10, 629
25, Oil
10, 769
25, 234
12, 438
52, 068
10, 515
48, 836
i 3,177
10, 240
18, 424
10,021
21, 389
51, 032
46, 100
21, 740
9, 459
45, 703
t», 381
8,741
13, 512
13, 146
43. 106
2 138. 5
10. 808
38, 221
12, 492
9,365
329 6
10, 469
23, 072
8, 773
15, 774
995. 3
11, 939
10, 218
7, 633
37, 288
1,466.4
9,013
29, 840
16, 087
2.081
1.G05
1.573
f3)
1.551
1.525
2.095
1.5G2
1.540
(3)
1.573
1.557
(3)
1.600
1.578
(3)
1.546
1.522
(3)
1.579
1.511
(3)
1.603
1. 550
1.618
1. 658
1. 568
1.561
1.461
1.443
1.491
1.448
1.439
(3)
1.5(>3
1.530
(3)
1.553
1.521
6,708
6, 884
6,796
4,714
4,854
7,780
17, 033
24, 375
8,784
5,908
6,187
i 1,216
8,131
21, 592
19, 819
11, 740
10, 828
11, 958
2 220, 067
328
358
18, 348
22, 945
22, 908
18, 453
2
238
261
12, 734
456, 956
935
452
327
27, 122
984, 324
305
296
310
18, 295
778,541
462
.881
.800
.797
.782
.772
.752
.760
.770
.743
.752
.742
.794
89, 398
78, 442
90, 896
49, 060
72, 663
76, 436
96, 375
63, 242
78, 020
55, 941
79, 454
49, 364
13,815
54, 191
13, 388
4, 953
194, 685
54, 068
154, 646
122, 947
9, 373
Rice:
Production (crop estimate)
thous. of bags 9 -California:
88, 012
Receipts domestic, rough
thous. of Ib _
69, 705
Shipments from mills milled rice
do
Stocks, rough and cleaned (cleaned basis) , end
80, 077
of month
- thous. of Ib .
Southern States0 (Ark., La., Tenn., Tex.):
Receipts roil "!! at mills
thous of Ib r 127. 747
213, 400
Shipments from mills milled rice
do
Stocks, domestic, rough and cleaned (cleaned
basis), end of month
thous. of lb_. 699, 757
199, 698
Exports
do
.108
Price, wholesale, head, clean (X. 6.) -dol. per lb__
286
Wheat:
Production (crop estimate), total
Winter wheat
Receipts, principal markets
321
2, 685
1.831
23, 399
2.490
2.402
2.380
2. 530
129, 132
79, 990
149, 459
125,900
74, 247
48, 063
48, 982
44, 537
49, 517
6, 282
83, 259
72, 152
86, 161
65, 802
17, 044
73, 162
8,169
106, 741
9,937
147, 581
15, 567
131, 382
6,261
84, 077
450, 783
127, 449
950, 658 1,227,523
212, 755 315, 693
520, 281
250, 994
180, 844
204, 667
171,225
243, 252
550, 824
80, 638
.108
482, 864
114,383
.121
370, 233
113, 180
.124
235, 052
62, 057
.124
111,633
63, 625
.124
29, 640
124, 125
.124
188, 443
56, 803
.093
572, 192 1,040,286 1,112,950 1, 000, 652
241,435 207, 046
153, 150
113, 178
.094
.094
.093
.085
859, 670
239
2, 254
1.751
240
2,186
1. 753
1,488
3,373
1.614
1,201
3,627
1.516
502
3,630
1. 388
1,136
3,755
1.268
1,916
4,288
1. 249
2, 663
6,240
1.156
924
5, 923
1.226
15, 809
2. 492
2.358
2.355
2.505
19, 833
265, 543
25, 917
27, 035
79, 993
281,636
103, 118
38, 907
40, 988
189, 883
32, 871
4,877
6,008
1. 249
i 17 998
1,713
11.028
1.287
i 1, 168.5
i 291.0
!877. 5
18, 403
31, 822
210,662
239, 783
251,841
272, 551
268, 135
339, 156
377, 855
267, 564
324, 932
305, 420
287, 303
2 562, 535
841,919
1, 332, 359
1,541,569
217, 258 "211,909 ""205," 929" 2 239, 330 "342," 428 ~~351,~632~ 359, 213 "352,~932~ "344,218
333, 815
246, 186
2 183, 328
423, 396
458, 641
2 58, 408
101, 691
123, 467
134, 477
424, 057
2 73, 105
269, 523
563. 569
13, 262
19, 769
28,151
17, 535
15,441
35, 586
26, 467 "~20~756
12, 976
21. 740
12, 112
15, 985
13, 352
32, 491
24, 725
9,679
23, 036
9,394
19, 066
18, 945
2. 521
2.395
(3)
2. 551
2.529
2.387
2. 270
2.529
2.558
2.355
2. 145
2. 530
2.492
2.036
1.793
2.265
2.443
2.086
1.808
2.202
2.474
2.175
1.822
2.439
2. 514
2.217
1.899
2.533
2.621
2.288
1.882
2.562
Wheat flour:
Production:
17,695
17, 351
18, 035
18, 565
18, 720
19, 783
19, 442
17, 041
18,177
20, 772
Flour
thous. of sacks (100 Ib.)
73.5
76.6
78.0
78.8
75.6
81.1
87.3
88.2
79.0
86.7
Operations percent of capacity
347, 478
363, 955
356, 570
341, 898
371, 059
397, 704
336, 676
364, 650
433, 837
393, 577
Offal
- -- short tons
40, 904
41, 767
42, 903
40, 103
43, 344
42, 198
45, 968
45, 328
39, 435
48, 436
Grindings of wheat
- _ thous. of bu.
Stocks held by mills, end of quarter
4,093
4,544
4 589
thous. of sacks (100 Ib.).
1,624
1,795
1,471
1, 472
777
], 148
1, 690
1,537
1, 328
1, 593
Exports
do
Prices, wholesale:
Spring, short patents (Minneapolis)
5. 935
5. 550
5. 925
6. 470
6. 075
5. 980
6. 100
5. 855
<i. 250
5.765
dol. per sack (100 lb.)_
5. 150
5. 275
5. 675
5. 855
5. 675
5.675
5. 950
5.425
5. 525
5. 525
Winter, hard, short patents (Kansas City)_do.._
r
p
l
Revised.
Preliminary.
December 1 estimate.
- Old crop only; new gram not reported until beginning of new crop year (July for barley, oats, and wheat; October for corn).
3 NO quotation.
9Bags of 100 Ib.; prior to the October 1953 SURVEY, data were shown in thous. of bu. of 45 Ib.
cfThe 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
.814
62, 143
Stocks, end of month:
261, 241
265, 465
Canada (Canadian wheat)
_ _ do.
United States, domestic, total c?
do
"240," 968" "231," 647"
Commercial
-.do
Interior mills, elevators, and warehouses
thous. of bu..
ni f ^
" ~
~
~ i
34, 816
29, 298
T
V t t 1 ° 1 irHnp
flonr
do
30, 879
25, 586
Wheit 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...
4, 542
15,066
61, 571
175, 366
mil. of bu._
do
thous. of bu..
11,085
i 52, 529
Rye:
Receipts principal markets
do
Stocks, commercial, domestic, end of month-.do
Price, wholesale, No. 2 (Minn.)
dol. per bu..
8,613
7,992
57, 396
2, 556
Oats:
Receipts, principal markets. Stocks, domestic, end of month:
Commercial
-
25,483
i 94] fno
8,235
8, 860
*. 094
292
11,002
1.313
20,715
368, 888
328, 623
2.623
2.337
2.015
2.578
2.601
2.375
2.051
2.596
•2. 577
2. 379
2. 194
2. 537
17,944
83.8
362, 192
41,770
18,327
77.6
365, 748
42, 504
18,962
88.6
380, 153
43, 971
1,429
4.476
1.538
6. 500
6.120
r
6. 355
p 6. 336
' 5. 935 f 6. 055
in the breakdown of stocks.
SURVEY OF CURRENT BUSINESS
March 1954
Unless otherwise stated, statistics through
1952 and descriptive notes are shown in the
1953 Statistical Supplement to the Survey
S-29
1954
1953
January
February
March
April
May
June
July
August
September
October
November
December
January
FOODSTUFFS AND TOBACCO— Continued
LIVESTOCK
Cattle arid calves:
Slaughter (federally inspected):
Calves
thous. of animals. _
Cattle
do__
Receipts principal markets
do
Shipments, feeder, to 9 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 1001 b_.
Hog-corn price ratio
bu. of corn equal in value to 100 Ib. of live hogSheep and lambs:
Slaughter (federally inspected)
thous. of animals .Receipts principal markets
do
Shipments, feeder, to 9 corn-belt States
do
Prices, wholesale:
Lambs average (Chicago)
dol. per 1001b._
Lambs feeder good arid choice (Omaha) do
453
1, 313
' 1, 898
192
422
1,170
1,609
86
535
1,299
1,952
124
541
1,371
2,019
161
504
1,345
2, 055
160
586
1,450
2,440
184
616
1,498
2,258
211
602
1, 494
2, 559
265
687
1, 644
2,770
446
776
1,782
3,095
773
658
1,609
2,997
643
634
1,653
2, 342
286
546
1 , 541
2, 245
206
26.04
21.73
30.50
23.41
20.91
33.50
21.98
21.19
29.00
21.50
19.91
25.50
21.83
19.80
27. 50
21.73
15.22
19.50
24.26
16. 75
23.00
24.79
15.78
23.50
25. 41
15.07
21.00
25. 35
15. 74
22.50
24. 83
17. 56
22. 00
23. 65
17. 63
22.50
23.93
19. 83
27. 00
6,267
3, 574
4, 550
2,562
4, 962
2,785
4,325
2, 358
3, 643
2, 031
3,607
2,119
3,276
1,837
3, 396
1,867
4,059
2,169
4,994
2,665
5, 540
2,950
5, 194
2, 721
4,712
2, 503
17.98
19.39
20.50
21.88
23. 54
23.24
23.29
22.97
24.18
21.54
20. 80
23. 69
24. 82
12.0
13.5
13.8
14.2
15.5
15. 5
16.5
15. 9
15.9
15.9
15.0
16.2
17.3
1,289
1,295
158
1,088
1,038
90
1,190
1,173
122
1, 100
1.115
99
1, 015
1,147
131
1,055
1,108
102
1, 108
1,159
136
1,158
1,483
291
1.366
1,822
547
1,529
2, 025
754
1,159
1,412
292
1,227
1,182
185
1,241
1,190
197
21.50
20.52
22. 38
20.01
23.12
20. 83
24.00
(')
25.12
0)
25.50
(0
25.38
17.94
23.38
17. 78
19.25
15.57
19.00
16.41
19. 25
18.22
19.25
18.00
20.62
19. 14
1,572
1, 712
1,649
1, 537
1,617
1, 579
1,525
1,675
1,913
1,941
1,952
1 , S36
1,043
63
990
55
929
55
818
50
749
46
638
50
532
50
460
40
460
36
593
59
'716
60
759
701, 489
274, 457
1,272
779, 450
256, 439
1,368
826, 083
234, 891
1,794
812, 729
210,274
1,965
859, 894
190, 408
2,848
877, 290
163, 626
3,073
860, 476
153, 672
2,973
925, 007
159, 376
2,273
994, 342
183, 864
2,942
897, 620
215, 352
13, 685
r
MEATS
Total meats (including lard):
Production (inspected slaughter)
mil. of l b _ _
1,999
Stocks (excluding lard), cold storage, end of month
mil. of l b _ _
1,038
Exports
do -65
Beef and veal:
Production (inspected slaughter)
thous. of lb-_ 775, 091
287, 258
Stocks cold storage end of month
do
Exports
-- do
877
Price, wholesale, beef, fresh, steer carcasses, choice
(600-700 Ibs.) (New York)
dol. per lb_.477
Lamb and mutton:
Production (inspected slaughter)
thous. of lb-_
61, 371
20, 816
Stocks cold storage, end of month
do
Pork, including lard, production (inspected
slaughter)
thous. of lb._ 1,162,504
Pork, excluding lard:
841,949
Production (inspected slaughter)
do
595, 546
Stocks cold storage end of month
_
do
8,605
Exports
do
Prices, wholesale:
.581
Hams, smoked, composite
dol. per lb._
.424
Fresh loins, 8-12 Ib. average (New York).do
Lard:
Production (inspected slaughter)
thous. o f l b _ _ 234, 448
241,760
Stocks, dry and cold storage, end of month f-do
50, 867
Exports
do_ _ _
.120
Price, wholesale, refined (Chicago)_-dol. per l b _ _
r
939, 793
269, 668
3,848
895, 446
246, 743
.432
.392
.382
.385
.387
.426
.432
.451
.427
.431
.424
.431
53, 166
23, 670
58, 129
19, 945
52, 458
17,493
46, 755
14, 720
44, 558
13, 461
47, 324
10, 410
49, 401
9,460
57, 474
10, 113
64, 856
10, 762
51, 566
11,151
57, 079
12,232
59, 522
11,650
816, 995
874, 686
770, 875
677, 203
712, 978
654, 193
614, 699
692, 034
853, 449
991, 497
954, 712
881,313
601,403
604, 813
9,983
650, 145
569. 204
7, 745
570, 190
538, 025
5,210
502, 422
459, 755
6, 392
533. 230
414, 227
6,768
489, 360
350, 825
6, 694
469,818
265. 981
5,865
531,761
200, 597
5,176
648, 115
181,279
4, 843
743, 793
266,170
4,419
710,666
326. 098
7,708
6r)K, 662
389, 231
.595
.464
.602
.479
.592
.523
.619
.567
.650
.576
.683
.597
.675
.570
. 623
.543
r
r
.544
.516
. 558
.452
. 657
. 509
P . 673
. 550
178, 155
74, 322
38.
187
r
. 205
162,245
75, 525
"V.~208~
65, 800
275, 887
37, 325
265, 61 8
157,799
241,890
45, 881
.125
164, 072
239. 009
39, 862
. 135
146,255
225, 936
40, 675
. 135
128,166
200, 621
33, 841
.150
130, 863
169,311
28, 908
.140
120, 175
109, 342
33, 193
. 163
105, 809
55, 637
34, 505
.183
116, 615
42, 439
24, 412
.233
149, 478
45. 205
19, 402
.205
180, 413
51,462
32, 857
. 193
34, 125
220, 606
39, 046
174,243
40, 934
140,371
44, 435
123,485
46, 431
117,876
46, 075
112,460
46, 364
127,340
56. 985
176, 385
69. 572
259, 085
79, 448
287, 153
POULTRY AND EGGS
Poultry:
Receipts 5 markets
thous. of Ib
Stocks cold storage, end of month
do
Price, wholesale, live fowls, heavy type, No. 1
(Chicago)
dol. per Ib
Eggs:
Production, farm
millions Dried egg production
- _ -thous. of Ib
Stocks, cold storage, end of month:
Shell
thous, of cases
Frozen
_ ._ _ _ _ thous. of Ib
Price, wholesale, extras, large (Chicago)
dol. per doz_-
38, 884
261,072
.310
.318
. 333
.345
.325
.245
.275
. 255
.255
.235
5,441
442
5, 328
1,168
6,298
2,120
6,094
2, 181
5, 872
' 2, 499
5, 051
1, 903
4, 642
2, 092
4, 346
r
1,979
4,206
1,441
4, 614
1, 144
r
r
r
T
. 230
4, 803
1,310
. 250
" . 250
5. 267
* 1,242
5, 448
1 , 698
r
120
34, 980
248
42,419
375
65, 201
816
98, 978
1,431
132, 294
1,513
159, 755
1, 199
152,835
827
133, 427
494
109, 869
288
86, 867
137
61, 014
.454
.443
.495
.497
. 486
.517
.531
.587
.624
.613
. 543
87, 060
83, 063
81,213
77, 096
63, 522
56, 041
48, 895
63, 932
104, 262
110, 496
109, 988
32, 530
.318
24, 705
.300
21, 775
.328
27, 425
.339
28, 493
.334
26,164
.346
20, 859
.385
13, 574
. 386
10, 587
. 403
8,504
.400
8, 026
.449
30. 242
. 468
"" V ~ 5 4 2 ~
1, 269
788
712
1,841
1,160
757
776
1,815
1, 374
776
700
2,249
999
526
634
2,149
860
411
511
1,256
1,149
685
666
1,278
860
361
531
1,470
1,286
744
582
1,320
1.870
1, 122
813
2,130
1, 544
873
628
1,261
1,814
1. 164
'778
1,848
1, 725
1, 055
723
2, 489
1,219
662
1 , 009
» 2, 274
.540
.553
.618
.573
.553
.560
.593
.615
.615
.600
. 5S5
20, 494
170, 263
23, 689
142, 040
31, 514
119,099
34, 91 1
109, 189
47, 314
113, 581
75, 903
142, 655
75, 392
169, 686
60, 155
176. 680
45, 643
174, 640
38, 692
176, 047
34, 244
179, 370
r
89
42, 030
76
37, 524
.479
.472
92.911
S5, 262
MISCELLANEOUS FOOD PRODUCTS
Confectionery, manufacturers' sales t-_ thous. of doL_
Cocoa:
Imports
- - long tons
Price, wholesale, Accra (New York) --dol. per lb_.
Coffee:
Clearances from Brazil, total
thous. of bags. _
To United States
_
do
Visible supply United States
do
Imports
_-do
Price, wholesale, Santos, No. 4 (New York)
dol. per l b _ _
Fish:
Landings fresh fish, 5 ports
thous. of Ib
Stocks, cold storaec. end of month
do
r
r
r
r
. 613
23, 9,50
176, 249
» . 725
1 54, 570
l
Revised.
* Preliminary.
No quotation.
t Revised series.
Compiled by the U. S. Department of Commerce, Bureau of the Census, representing factory and warehouse stocks of rendered and refined lard; data prior to June 1952
will be shown later.
I Re visions for 1952 are shown in the August 1953 SURVEY,
SUEVEY OF CUKRENT BUSINESS
S-30
Unless otherwise stated, statistics through
1952 and descriptive notes are shown in the
1953 Statistical Supplement to the Survey
March 1954
1954
1953
January
February
March
April
May
June
July
August
September
October
November
Decem
ber
January
FOODSTUFFS AND TOBACCO—Continued
MISCELLANEOUS FOOD PRODUCTS— Con.
Sugar:
Cuban stocks, raw, end of month
thous. of Spanish tons__
United States:
Deliveries and supply (raw basis) :
Production and receipts:
Production
short tons _
Entries from off-shore
do
Hawaii and Puerto Rico
do
Deliveries, total
- -- do
For domestic consumption
do_._
For export
do
Stocks, raw and refined, end of month
thous. of short tons..
Exports
short tons
Imports:
Raw sugar, total.
do
From Cuba
_.do
From Philippine Islands
_do
Refined sugar, total
From Cuba
Prices (New York) :
Raw wholesale
Refined:
Retail
Wholesale
Tea imports
-
- do
do
r
r
r
1, 746
2,679
3,801
4,906
4,676
4,364
3,908
3,218
2,658
3,078
2, 083
1,737
69, 484
469 755
149, 498
34 014
398 576
143 730
37 407
627 988
192 443
59 948
854 355
248 129
12 283
530 430
235 756
51 262
628 878
180 490
26 860
607 °26
234 674
37, 059
614 988
182 958
117, 506
563 878
237 561
643 637
461 177
238' 494
812 373
254 321
97 620
473, 347
117,126
61, 688
578, 009
576, 168
1,841
546, 884
545, 674
1 210
878 155
876, 548
1 607
588 583
587, 001
1 582
599 440
597, 627
1 813
790 640
779, 785
10 855
886 890
885, 168
1 722
778, 556
777, 391
1 165
844 285
842, 829
1,456
641 490
639 991
1 499
580 278
574, 693
5 585
' 801, 571
800,
569
r
1,002
1,590
377
1, 513
10 356
1,306
441
1,392
685
1,423
9 095
1,312
14 326
1,103
11 473
966
21 879
851
526
1,186
303
1,691
3 897
270. 596
205, 264
59 642
260, 306
178, 519
81 667
361,182
303, 479
55 438
341, 775
274, 851
62 664
325, 791
222, 582
93 039
393, 731
221, 650
165 748
339, 220
238, 565
91 880
330, 805
266, 009
64 421
321, 374
201, 899
92 486
180, 291
118, 650
56 920
140, 910
86, 401
45 512
157, 648
118,711
38,640
37 924
32 493
28 173
25 614
46 834
39 549
55 961
48 433
54 782
46 720
40 271
40 226
38 937
37 178
47 760
44 598
27, 116
26 437
2 057
250
4 220
132
301
060
062
064
064
064
064
064
064
064
064
061
.060
495
.085
10 466
493
.083
7 949
490
.086
10 590
495
.086
11 141
495
.086
7 943
495
.086
9 215
498
.086
7 506
500
.087
7 766
502
.087
10 364
503
.087
9 491
500
.085
6 851
r
dol. per Ib
dol. per 5 Ib
dol. per lb__
thous. of Ib
TOBACCO
Leaf:
Production (crop estimate)mil. of lb_.
Stocks, dealers' and manufacturers', end of quarter total
mil. of Ib
Domestic:
Cigar leaf
do
Air-cured, fire-cured, flue-cured, and miscellaneous domestic
mil. of Ib
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-. -do
Chewing plug and twist
do
Smoking
- _ - __ do __
Snuff
do
Consumption (withdrawals) :
Cigarettes (small):
Tax-free
millions. _
Tax-paid
do
Cigars (large), tax-paid§
_ _ _ thousands..
Manufactured tobacco and snuff, tax-paid §
thous. of lb__
Exports, cigarettes
_
_
millions
Price, wholesale, cigarettes, manufacturer to
wholesaler and jobber, f. o. b. destination
dol. per thous._
1
' 1,693
596
.497
.085
8,760
2 2,046
4,513
4 485
4 037
4 225
391
369
340
319
3 908
3 472
3 703
3,995
30, 746
8,918
22,900
8,291
19
167
41,020
9,085
50,103
7,961
35, 682
8,787
18
178
33, 263
9,578
24, 649
7,662
40, 511
9,268
18
163
60, 304
10, 475
55, 738
9,269
52, 327
8,549
18
181
68, 538
7,582
16,683
6 394
6 893
3 396
16,385
6 638
6 639
3 108
17, 947
7 138
7 458
3 352
18, 326
6 935
8 064
3 328
17, 806
7 246
7 494
3 066
18, 170
7 347
7 430
3 393
15,999
7 194
6 301
2 504
17,814
6 879
7,569
3 367
18, 833
7 239
8,302
3 281
19, 273
7 473
8,424
3 376
16, 170
6 808
6 307
3 055
17, 735
5,978
5,373
3,384
2,649
32 498
431, 158
2,394
32 212
542, 594
3,856
34 105
469, 164
2,703
31 607
477, 520
2,658
30 587
507 629
3,130
33 304
501,499
3,339
29 914
463 787
2,770
34 658
497, 670
3,585
33 598
518, 748
2,813
34 860
540, 124
3, 535
30 338
547 704
3,534
29,141
443, 532
16, 804
1,306
15, 480
1,348
17,056
1,813
17,887
1,331
17,488'
1 482
17,812
1 119
15,862
1,321
17, 539
1, 158
18, 103
1,535
18, 580
1,178
15, 825
1 191
15,213
1,416
3.555
3.555
3.938
3.938
3.938
3.938
3.938
3.938
3.938
3.938
3.938
15 319
10 934
9 454
150
41
208
40
47
23
81
36
LEATHER AND PRODUCTS
HIDES AND SKINS
Imports, total hides and skins
thous. of Ib
Calf and kip skins
_. thous. of pieces _ _
Cattle hides
_ . do
Goat and kid skins
do
Sheep and lamb skins
.
-do
Prices, wholesale (Chicago):
Calfskins, packer, heavy, 9^/15 lbs__ dol. per lb__
Hides, steer, heavy, native, over 531bs
do
12 429
137
20
3,673
1,392
11 264
72
38
2 464
1,431
13 093
217
41
2 870
1,759
.488
.120
.550
.137
.563
.128
18 407
123
31
3, 055
4,466
. 513
.138
18 166
253
21
3 032
3,826
20 258
268
47
2 731
4,629
15 602
187
13 646
121
188
26
3 168
1 688
2 121
2, 760
2 666
2,680
1 726
1 157
2 364
1 230
2 034
1,033
.613
.153
.625
.150
.513
.158
.513
.170
.500
.170
.400
.148
.468
.153
.438
.123
724
1 901
2 115
2 192
846
1,975
2 341
1 818
LEATHER
Production:
827
Calf and kip _. .
thous. of skins
857
936
871
849
685
790
930
839
804
Cattle hide
thous. of hides..
2,020
2,133
2,117
1,998
2,123
2,006
1,815
1,978
1,893
2, 065
2 979
Goat and kid
thous. of skins
3,172
3 121
2 354
2 802
2,709
2 922
2 241
2 580
2 828
Sheep and lamb . .
do
2,368
2,319
2, 435
2,618
2 433
2,215
2 520
2,558
2 409
2 103
Exports:
Sole leather:
91
42
Bends backs and sides
thous. of Ib
82
23
65
24
57
23
52
67
Offal, including belting offal
do
21
73
33
76
55
53
96
63
75
56
Upper leather
thous. of sq. ft _
2 743
2 996
4 002
2 825
2 840
3 492
3,000
3 959
3 383
2 996
Prices, wholesale:
Sole, bends, light, f. o. b. tannery
dol. perlb..
.705
.690
.680
.725
.680
.720
.690
.690
.670
.690
Upper, chrome calf, B and C grades, f. o. b. tan1.013
1.007
1.125
1.042
nery
dol. per sq. ft..
.968
1.000
1.127
1.082
1.042
1.002
r
Revised.
*» Preliminary.
1
Revised beginning 1953 to represent price for New York and Newark for January-June; thereafter, for New York and northeastern New Jersey.
2
December 1 estimate.
§ Revised to represent data based on number of stamps used by manufacturers; revisions prior to May 1952 will be shown later.
8 770
51
68
26
39
2 929
3 159
* . 413
f .171
.675
.655
i . 665
.998
'.998
* . 984
SURVEY OF CURRENT BUSINESS
March 1954
Unless otherwise stated, statistics through
1952 and descriptive notes are shown in the
1953 Statistical Supplement to the Survey
S-31
1954
1953
February
January
March
April
May
June
July
August
September
October
November
December
January
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 types of uppers: <?
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, f. o. b. factory:
Men's and boys' oxfords, dress, cattle hide
upper, Goodyear welt
1947-49=100 .
Women's oxfords (nurses'), side upper, Goodyear welt
1947-49=100..
Women's and misses' pumps, suede split, .do
»• 45, 568
44, 872
48, 723
44, 968
41, 858
40 824
40,297
42, 804
39,902
40, 121
33 522
' 38, 200
42, 078
40, 967
44, 079
40, 193
36, 979
35, 790
34, 972
36, 539
33, 376
33, 183
28, Oil
r
36, 278
5,500
35, 336
5,631
37, 520
6,559
33, 898
6,295
31, 986
4,993
31, 745
4,045
31, 630
3,342
33, 255
3,284
30, 404
2,972
29, 842
3,341
24, 987
3,024
8,953
1,558
»• 22, 708
6,257
3,292
2,946
8,745
1, 515
21, 005
6,298
3,404
3,369
9,125
1,622
22, 945
6,527
3,860
4,059
8,979
1,474
20, 765
5,436
3,539
4 271
8, 532
1 574
18, 490
5,139
3,247
4 375
8,136
1 595
18, 161
5,077
2,821
4 533
7, 560
1 637
18, 687
4,603
2 485
4 790
7,963
1 696
19, 077
5,107
2,696
5 697
7,670
1 457
16,602
4,883
2,764
5 981
8,006
1,390
15, 690
5,130
2,967
6 407
6 801
1 124
12 921
4, 363
2 802
5 039
226
318
293
238
298
388
265
320
468
279
225
353
280
224
348
258
243
253
269
266
313
296
272
421
283
262
446
273
258
419
40, 093
34, 389
37, 460
30, 296
3,914
i 33, 333
i 6,760
8,087
1 362
16, 490
5, 386
3,064
3 305
262
210
330
290
216
251
7,851
1 470
19, 222
5, 715
3, 202
2 123
r
239
271
110.3
110.3
110.3
110.3
110.3
110.3
110.3
110.3
110.3
110.3
110 3
110.3
110.3
117.1
113.4
117.1
113.4
117.1
113.4
117.1
110.7
117.5
110.7
118.1
110.7
118.1
110.7
118.1
110.7
118.1
110.7
118.1
110.7
117. 5
112.3
117.5
112.3
117.5
112.3
48 064
r 220' 063
54 109
197 952
LUMBER AND MANUFACTURES
LUMBER—ALL TYPES
54, 326
Exports, total sawmill products
M bd. ft
Imports, total sawmill products _.
do . _ 189, 269
National Lumber Manufacturers Association:©
2 977
Production total
mil bd ft
660
Hardwoods
do
2,317
Softwoods.
do
3,
043
Shipments, total
_ __
do .
708
Hardwoods
do
2,335
Softwoods
_
do
Stocks, gross (mill and concentration yards), end
8,221
of month, total
..mil. bd. ft._
3,153
Hardwoods
do
5,068
Softwoods
_
-.
.do
SOFTWOODS
Douglas fir:
Orders, new
do
Orders, unfilled, end of month
do
Production
do
Shipments
.
..
do
Stocks, gross, mill, end of month.
.do
Exports, total sawmill products
M bd. f t _ .
Sawed timber
do
Boards, planks, scantlings, etc
-.do....
Prices, wholesale:
Dimension, No. 1 common, 2" x 4", R. L.
dol. perMbd. 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), end
of month
.mil. bd. ft._
Exports, total sawmill products
M bd. ft .
Sawed timber
do
Boards, planks, scantlings, etc
do
Prices, wholesale, composite:
Boards, No. 2 and better. 1" x 6" x R. L.
dol. per M bd. ft
Flooring, B and better, F. G., 1" x 4" x S/L
dol. per Mbd.ft..
Western pine:
Orders, new
_
..mil. bd. ft
Orders, unfilled, end of month
.do
Production
do
Shipments
do
Stocks, gross, mill, end of month
do
Price, wholesale, Ponderosa, boards, No. 3 common, 1" x 8"
dol per M bd ft
62 158
195, 457
47 247
238, 076
58 631
219, 381
53 192
242 183
53 765
270 350
53 037
253 021
54 245
246 389
52 517
253,650
50 919
243 520
2 945
3 204
3 288
3 521
3 437
2,861
3,589
2,659
3 311
2,663
3 207
2,672
3 218
3 470
'790
2 680
3 207
3 536
2,647
3,374
3 428
'622
2.806
3 408
3 337
2, 265
2,955
2,214
2,588
2,783
2 607
2 720
2 560
2 557
2 580
8,211
3,092
5,119
8,125
2,947
5,178
8,090
2 801
5,289
7,951
2 642
5,309
7,739
2 576
5 163
7,851
2 604
5 247
8,068
2 708
5 360
910
862
888
860
921
848
971
1 032
925
942
814
847
811
693
829
978
22, 029
6,693
15, 336
680
741
820
1,007
17, 815
6,663
11, 152
641
786
925
966
952
1,021
22, 393
6,800
15, 593
660
806
978
1,018
30, 276
14, 691
15, 585
545
704
894
885
863
1,008
29, 067
16 245
12, 822
688
838
883
888
1,002
18, 058
7 138
10, 920
765
674
661
647
878
751
786
789
759
776
982
21,390
12 528
8,862
995
17,968
7 499
10, 469
2 873
2 749
2 235
2 701
2 106
2 604
2 596
3 075
' 718
2 357
2 869
'624
2 245
2 151
2 079
8,314
2 871
5 443
8,587
3 012
5 575
8,793
3 107
5' 686
8,967
3 194
5 773
9,132
3 311
5 821
779
826
715
830
753
798
813
746
817
757
779
627
806
1,006
24, 986
12 993
11,993
792
2 744
3 246
650
848
974
24, 422
11 842
12, 580
638
550
643
526
111
763
717
758
750
753
991
21 451
9 836
11 615
987
28 161
10 619
17 542
1,002
73. 409
p 73. 409
742
84. 665
84. 105
83. 405
82. 845
79.009
78. 064
77. 252
76. 972
75. 187
74. 347
73. 122
124. 460
125. 105
126. 232
127. 049
126. 396
126. 396
126. 085
126. 085
125. 930
125. 113
123. 978
758
320
767
692
350
700
752
356
767
803
383
830
739
376
754
709
344
767
714
306
764
673
287
707
693
269
707
660
237
767
711
692
623
230
673
531
202
651
AQfl
559
596
1,596
9,345
1,327
8,018
1,634
7,379
3,016
4,363
1,655
5,821
1,621
4,200
1,709
5,123
1,139
3,984
1,717
5,262
1 335
3,927
1,743
5,590
1 126
4,464
1,755
7,981
2 619
5,362
1,770
8,549
1,766
3,952
1 105
2,847
1,841
4,662
1 005
3,657
1.884
4 901
1 098
3 803
1,976
5 700
'640
5,060
2,064
733
662
746
776
746
741
752
692
810
7,739
125. 612 v 124. 946
595
201
684
81. 402
81. 180
80. 675
80.487
79. 439
78. 748
78. 227
77. 614
77. 703
76. 545
76. 549
75. 665
p 74. 364
159.583
159. 706
159. 360
158. 748
156. 604
156. 604
157. 829
157. 523
157. 523
157. 217
156. 298
155.685
155. 389
610
670
426
531
657
429
586
643
554
653
665
676
646
650
629
718
679
746
714
400
761
664
355
782
678
342
767
722
380
759
491
317
583
547
342
512
472
366
395
1,675
1,660
1,664
1,709
1,727
1,557
1,633
1,704
1,781
1,856
1,885
1,874
1,822
83.61
83 64
84.07
85 00
85 04
84 92
83 26
81 10
76 11
70 84
70 04.
70 65
P 70 65
289,083
290,689
97, 619
302, 975
301, 638
99, 103
339, 259
338, 115
100, 073
351,913
344, 257
107, 562
334, 309
335, 972
106, 057
345, 269
341,083
110, 662
281, 542
278 267
113 512
518
444
550
631
611
688
685
711
690
684
554
523
447
SOFTWOOD PLYWOOD*
Production
thous. of sq. ft., %" equivalent..
Shipments...
do .
Stocks, end of month
_
do
2
2
2
254, 756
253 635
113, 871
HARDWOOD FLOORING
Maple, beech, and birch:
4,300
Orders, new...
__
..M bd. ft._
5,075
4,525
4,850
4,150
5,250
4,275
4,400
3.300
3,975
3,575
5,150
3,850
9,325
Orders, unfilled, end of month
do 9,900
10, 350
9,650
10 050
10 450
9 800
9 500
8 450
8 100
9 300
7 850
9 250
Production
. .
do
4,000
3 875
3 900
4 200
3 500
4 150
3 100
3 950
4 100
4 750
3 775
4 300
3 950
Shipments
. do
4,050
4,125
3,550
4,250
4 050
5 150
4 350
4 300
3 850
3 925
3 825
3 750
3 750
Stocks, mill, end of month
_do
10, 275
10, 525
10,550
10, 600
10, 100
8,950
8,025
7,650
7,650
8,500
8,675
9,300
9,750
r
Revised.
* Preliminary.
1 Data are based on total production of shoes
and slippers. Comparable figures for 1953 are as follows (thous. pairs): All leather—January, 37,647; Decem2
ber, 31,987; part leather and nonleather—January, 7,921; December, 6,213.
Series discontinued with August data.
cfThe figures include a comparatively small number of "other footwear" which is not shown separately from shoes, sandals, etc., in the distribution by types 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 small revisions not available by
types of uppers.
©Revised monthly data for January 1950-July 1952 are available upon request.
JRevisions for 1952 appear in the August 1953 SURVEY.
SURVEY OF CURRENT BUSINESS
S-32
Unless otherwise stated, statistics through
1952 and descriptive notes are shown in the
1953 Statistical Supplement to the Survey
March 19.14
1953
January
February
March
April
May
Juno
1954
July
August
September
October
November
76 085
50 ' 082
86 2139
84' 579
52 61
68 178
46 584
76 703
73' 924
55 391
"El!"' |jam,ary
LUMBER AND MANUFACTURES—Continued
HARDWOOD FLOORING— Continued
Oak:
Orders new
Orders, unfilled, end of month
Production
Shipments
Stocks mill end of month
M bd. ft
do
do
do_
do
89, 979
66, 898
78 157
78, 556
76 339
87, 638
76, 823
72 283
77, 265
69 323
98 269
86, 161
79 615
85 226
62 064
84 222
86 584
84 371
88* 359
55 268
65 466
77 419
77 825
80* 635
52 458
62
62
79
79
52
004
965
466
821
083
73
60
81
83
50
043
034
390
100
373
74
54
78
79
49
238
735
243
537
079
73? 874
52 885
81 474
79 581
50 971
233
35
272
18
702
513
106
669
243 571
25 477
9
41 726
14' 438
70
47
81
71
64
910
688
218
9
21
149
METALS AND MANUFACTURES
IRON AND STEEL
Foreign trade:
Iron and steel products (excl. advanced mfrs.):
Exports total
short tons
Scrap
do . _
Imports total
doScrap
do. _.
328, 091
12, 147
149, 371
5,254
283, 903
24, 012
136, 349
10, 846
313, 602
16, 033
181 185
10, 185
293, 087
17,417
266 254
11, 255
306, 774
17, 699
261 581
3,138
285, 251
19, 416
269 806
15,032
251, 365
15, 988
312, 969
22, 083
6. 741
3,749
2 991
7 008
6,632
6. 582
3.516
3 066
6 499
6, 722
7,167
3 859
3 309
7 321
6, 569
7,091
3 895
3 266
6 974
6,694
6,959
3 801
3 157
7 050
6, 603
6,451
3 688
2 763
6 665
6,395
6, 368
3 594
2 775
6 204
6,560
6. 644
3 675
2 969
6 314
6 893
3,387
2, 002
6 824
3, 214
1,909
8 149
4,113
2,181
10 031
9 971
10, 486
9 516
14, 287
15,002
8 851
15, 368
15,663
8 556
15,719
16, 534
7,739
0
8, 293
37 077
31, 967
5 110
681
0
7,396
29 949
25, 741
4 207
576
313
8,257
22 065
19, 026
3 039
576
8 404
7,764
21 572
18,816
2 757
780
13, 597
8, 358
26 247
23, 198
3 049
966
13, 745
8,056
32, 070
28, 526
3, 544
1,125
141
95
96
95
103
1,333
1,162
622
1,332
1,136
607
1,376
1,264
675
1,306
1,277
683
174, 809
87, 249
53, 272
175, 088
86, 515
51, 963
177, 776
94, 481
57, 025
6, 564
6 478
5,882
5 832
1,852
270
30
210
7
433
041
830
104
277 137
36 065
190 054
9*897
326 635
51 953
144 488
9' 094
6,174
3 607
9 507
6 043
7 033
6. 057
3 693
9 364
6 304
6 780
5,700
3 472
2 228
5 672
6 816
5, .587
3 471
2 116
5 952
7 159
15 473
16, 284
6 943
15 143
15 457
6 614
12 290
13 512
5 396
6 392
6 998
4 800
3 183
2 099
5 877
14, 497
8, 239
38, 829
34, 443
4, 386
1,148
15,237
8,150
45 579
39, 988
5 591
1 109
13 214
7 699
51 767
44, 612
7 155
1, 137
11 538
8 131
55 699
47, 419
8 980
1 085
r- 300
7,522
54 981
46, 896
8 085
965
7 022
48 815
41,145
134
127
89
90
134
71
112
1,272
1,186
642
1,246
1,196
648
1,233
1,056
573
1,223
1, 069
589
1 170
1, 106
612
1 076
1, 142
650
977
1,004
564
1 032
553
174, 514
95, 923
57, 757
160, 387
82, 050
48,011
151,016
86, 514
50, 819
137, 251
77,111
45, 413
120, 801
73, 855
45,415
1 14. 523
74, 333
45, 466
104 046
73, 473
45, 515
93 156
63, 435
37, 500
95 (>12
72,126
39, 657
6,677
6,577
6,231
6 236
6,587
6,546
6,373
6,251
6, 516
6, 249
6,472
6 353
6,202
6 024
6,498
6 421
6, 063
5 963
5, 779
5 702
1,884
1,895
1, 876
1,887
1,977
2,298
2,368
2,511
2, 527
2, 660
2. 799
54. 73
54.50
55.00
54.73
54.50
55.00
54.73
54. 50
55.00
54.73
54. 50
55.00
54.73
54.50
55.00
54.80
54.50
55.00
56.22
56. 00
56.50
56. 23
56.00
56. 50
56. 10
V>. 00
56. 50
56. 03
56. 00
56.50
56. 03
nO. 00
.")(). 50
56 03
56 00
06. 50
167, 211
126, 819
26, 752
175, 675
137, 592
33, 156
182, 181
141,873
34, 364
179,615
140, 051
34, 035
165, 649
126, 380
29, 552
164, 665
125, 984
30, 381
139, 577
105, 687
22, 925
141,340
107, 941
25, 026
135,303
102, 880
24, 108
140, 702
106, 788
25, 354
114,088
84, 945
17, 784
123 281
91.017
18 685
1 206 550 1, 199, 151 1, 197, 291 1,081,838 1, 239, 057 1, 135.343
191, 189
185, 323
196, 441
200, 152
183, 545
183, 709
132, 580
134 686
147 701
140 510
135 682
137 291
52, 743
56, 503
52, 451
55, 931
46 324
48' 027
1,080,582
155,288
112,848
42, 440
3
974,153
3
150,512
3
110 926
3
882,
153,
110
42,
797,
155,
112
42,
740 127
143,239
103 113
r
4 0 126
650, 533
142, 603
98 915
43, 688
9, 276
93
9,406
94
8, 690
90
7. 946
80
Iron and Steel Scrap
Production and receipts. total*.thous. of short tons_.
Ilome scrap produced*
do
Purchased scrap received (net)*
do
Consumption total
do
Stocks consumers', end of month, total
do - _
Ore
Iron ore:
All districts:
Mine production
thous. of long tons
Shipments
do
Stocks at mines end of month
_
do.
Lake Superior district:
Shipments from upper lake ports
do
Consumption by furnaces do
Stocks end of month total
do.
At furnaces.
do
On Lake Erie docks
do
Imports
do
Manganese ore, imports (manganese content)
thous. of long tons..
o
r ~ f,71
o
6
41
34,
7
996
974
797
178
948
Pig Iron and Iron Manufactures
Castings, gray iron:
Orders unfilled for sale
thous. of short tons
Shipments total
do
For sale
do
Castings, malleable iron:
Orders unfilled for sale
- short tons
Shipments, total
do
For sale
do
Pig iron:
Production
thous. of short tons _
Consumption
doStocks (consumers' and suppliers'), end of month
thous. of short tons..
Prices, wholesale:
Composite cf
dol. per long ton
Basic (furnace)
- do
Foundry, No. 2, f. o. b. Neville Island__do
1
5, 580
56 03
p 56. 00
p 50. 50
Steel, Crude and Semimanufactures
Steel castings:
Shipments total
short tons
For sale, total
do
Railway specialties
do
Steel forgings:
Orders unfilled total
do
Shipments for sale, total
do
Drop 'ind upset
do
Press and open hammer
do
Steel ingots and steel for castings:
Production
thous. of short tons
Percent of capacity^
Prices, wholesale:
Composite, finished steel
dol. per lb_.
Steel billets, rerolling (producing point)
dol. per short ton__
Structural steel (producing point)
dol. per lb_.
Steel scrap, heavy melting (Pittsburgh)
dol. per long ton__
9,997
100
9,404
97
9,898
99
8,933
99
10, 168
102
9,546
99
.0498
.0498
.0498
.0498
59.00
. 0420
59.00
.0420
59.00
.0420
59.00
.0420
44.00
44.00
44.00
44.00
39.50
40.50
5,174
1 798
62
5,052
1 670
63
4,878
1,981
68
4,804
2, 068
90
4,393
2,054
81
4, 459
2,086
90
62. 00
. 0413
.0524
.0513
.0501
2
2
2
2
69. 00
.0413
39, 586
2
2
72. 00
. 0438
034
173
305
868
8, 883
92
.0524
9, 463
95
r
T
r
637
138,
101
37
89f)
926
523
403
7, 951
75
.0524
. 0524
. 0524
. 0524
72. 00
. 0438
* 72. 00
2. 0438
• 72. 00
2
. 043*
p 2 72. 00
P -. 0438
40. 50
36.50
36. 50
33, 50
p 30. 47
4, 052
1, 950
123
3,748
2, 101
84
3, 404
1,848
88
3, 231
2, 003
78
. 0524
2
2 72. 00
. 0438
72. 00
2 . 0438
44.50
45.50
3, 901
1, 975
117
4,013
2,026
94
2
523
772
803
969
2
2
Steel, Manufactured Products
Barrels and drums, steel, heavy types:
Orders unfilled, end of month
thousands
Shipments
do
Stocks, end of month
do
r
1
2
3
Revised. *> Preliminary,
See note marked "c?" for this page.
Data beginning May 1953 represent quotations for a substituted s°ries.
Data beginning August 1953 represent
estimated industry totals based on forge shops whose shipments in 1947 accounted for over 9C percent of total shipments; earlier data are estimated totals based on a different sample.
*New series; compiled by the U. S. Department of Interior, Bureau of Mines. Data prior to 1953 are not available for publication.
cfBeginning January 1953, new weighting factors have been introduced and delivered prices eliminated. Quotations comparable with earlier prices may be derived by adding $1.58 (plus
a very small adjustment for any freight-rate increases) to the stated prices.
+For 1954, percent of capacity is calculated on annual capacity as of January 1, 1954, of 124,330,410 tons of steel; 1953 data are based on capacity as of January 1, 1953, of 117,547,470 tons.
SURVEY OF CURRENT BUSINESS
March 1054
Unless otherwise stated, statistics through
1952 and descriptive notes are shown in the
1953 Statistical Supplement to the Survey
S-33
1954
1953
January
February
March
April
May
June
July
August
September
October
368, 917
November
December
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 — All grades
do
Reinforcing
do
Semimanufactures
do
Pipe and tubes
do
Plates
do
Rails
do
Sheet^
do
ptrip — Cold rolled
do
Hot rolled
do
Structural shapes heavy
do
Tin plate and terneplate
do
Wire and wire productsdo
269, 597
167, 764
101, 833
227, 068
1,186
26, 616
252, 084
151, 200
100, 884
215, 587
1,138
24, 696
279, 372
161, 854
117, 518
238, 914
1,296
27, 627
304, 201
174, 879
129, 322
255, 358
1, 338
27, 772
304, 743
177, 976
126, 767
259, 360
1,307
29, 317
357, 201
220, 481
136, 720
7,068
853
146
6, 533
779
156
335
804
659
148
1, 695
167
183
395
373
435
7,437
894
173
415
902
707
168
1,982
205
210
416
448
471
7,162
838
155
357
880
650
150
2,007
194
206
414
442
447
92, 649
283, 599
104, 460
350, 094
. 0825
240. 7
54.9
185. 7
109.2
. 402
358
832
714
166
1, 851
190
203
418
433
458
1,348
31, 605
446, 772
299, 306
147, 466
407 362
1,281
30, 752
506, 215
360, 564
145, 651
457 387
1,260
29, 155
484, 561
346, 645
137 916
432 830
1,226
27, 244
7,209
6,950
6,583
843
157
329
847
614
162
1,924
190
210
397
441
426
794
166
295
801
587
156
1,957
151
161
414
405
328
6, 499
750
1^8
252
778
586
150
1,921
188
195
391
390
378
6, 401
723
163
232
833
586
162
1,864
191
192
393
340
349
6,727
873
159
352
828
698
161
2,003
187
214
417
459
449
102, 071
355, 895
105, 464
345, 619
104, 152
427, 849
109, 285
390, 184
110, 545
442, 171
109, 333
402, 340
108,219
.0995
.0924
.0838
.0936
.1000
.0900
.0900
273.7
281. 0
61.6
219.4
129.2
.429
266. 7
57.6
209.1
123.6
.429
261.8
56.8
205.0
121.3
.429
254.1
51.7
202.5
123. 5
.429
241.4
50.9
190.5
117.9
.429
237.5
311,009
r
314 408
192. 403
190,280
124 128
r 280 289
1 , 097
22, 378
123,416
68 987
155 000
' 1,137
21, 972
5, 904
633
140
190
728
609
182
1 , 768
169
151
443
303
270
5. 685
586
125
190
714
633
185
1, 674
140
116
481
266
264
105, 636
400, 077
434, 958
.0825
. 0996
. 1033
. 0892
53.7
183.8
111.9
.417
241.1
55. 4
185.7
113.6
.417
200. 2
51. 4
148 8
89. 4
.417
201 . 1
52. 0
149.1
91.2
.417
p. 417
239,111
129 806
329 545
1, 282
,24,746
758
161
232
864
644
164
2,003
194
180
442
361
329
r
1,089
24, 581
NONFERROUS METALS AND PRODUCTS
Aluminum:
89, 895
Production, primary
short tons__
294, 415
Imports bauxite
long tons
Price, wholesale, scrap castings (N. Y.)
. 0750
dol. per lb._
Aluminum fabricated products, shipments,
243. 6
total
mil. of Ib
55. 6
Castings
do
187.9
Wrought products total
do
110.7
Plate and sheet
do
.402
Brass sheet?, wholesale price, mill
dol. per lb_.
Copper:
Production:
Mine production, recoverable copper
77, 512
short tons..
Crude (mine or smelter, including custom in81, 625
take)
short tons
108, 010
Refined
.
do
125, 133
Deliveries, refined, domestic
do
59, 836
Stocks, refined, end of month
do _
8,079
Fxports refined and manufactured
do
50, 055
Imports total
do
23,
506
Unrefined including scrap
do
26, 549
Refined
do
.2420
Price, wholesale, electrolytic (N. Y.)-dol. p e r l b _ _
Lead:
Ore dead content):
r 30, 633
Mine production
short tons
30, 697
Receipts bv smelters, domestic ore
do
Refined (primary refineries) :
Production
.
do __ 47, 295
35, 529
Shipments (domestic)
-- do
52, 760
Stocks, end of month
. __
do._
Price, wholesale, pig. desilverized (N. Y.)
.1419
dol. per lb_.
Imports, total, except mfrs. (lead content)
48,
002
short tons
Tin:
4,
250
Production, pig§
long tons
7,410
Consumption, pig, total §
do
4,809
Primarv§
do
22, 504
Stocks, nig, end of month, total §
do
10,
589
Government^
do
11,915
Industrial § '
do
Imnorts:
3,862
Orp (tin nfmtent)
.._. .. do
7, 703
Bars, blocks, pier?, etc
.
do
1. 2150
Price, wholesale, Straits (N. Y.)
dol. per Ib
Zinc:
r
53, 002
Mine production of recoverable zinc short tons__
Slab zinc:
81, 994
Production
do
80, 679
Shipments, total
do
77, 573
Domestic
do
88, 475
Stocks, end of month
.._
do
Price, wholesale, prime Western (St. Louis)
. 1259
dol. per l b _ _
27, 658
Imports, total (zinc content)
short tons__
911
For smeltiner, refining, and export
do
For domestic consumption:
6,804
Ore (Vine content)
- do
19, 943
Blocks, pigs, etc
do._
59.4
214.3
127.1
.429
363, 945
72, 317
80, 886
79, 706
80, 850
73, 635
76, 492
75, 581
75, 442
80, 005
75, 165
83, 653
101, 538
117, 204
60, 944
6,030
62, 360
33, 204
29, 156
.2497
101, 825
112, 016
133, 462
55, 807
8,645
52, 397
20, 496
31, 901
.2929
95. 890
113, 782
142, 382
48, 382
6, 551
71, 110
39, 573
31, 537
.2990
93, 197
117, 929
146, 215
52, 762
8, 669
67, 098
32, 132
34, 966
. 2968
84, 948
127, 294
139, 300
58, 126
7,278
81,341
40, 391
40, 950
.2969
88, 063
122, 036
104, 481
77, 100
13, 317
66, 200
48, 201
17, 999
.2969
84, 953
108, 974
106, 985
78, 825
18, 848
48, 466
32, 205
16, 261
.2961
86, 748
114, 760
104, 886
72, 907
17,465
58, 353
48, 938
9,415
.2962
92, 435
126,138
110,519
84, 303
18, 870
51, 095
35, 351
15, 744
.2960
85, 724
119, 230
100, 908
93, 274
15,827
32, 414
26, 01 1
6,403
. 2965
' 29, 427 »• 31, 347
32, 660
30, 388
' 31, 052
31, 557
«• 29, 045
28, 793
r 28, 349
30, 753
' 26, 364 ' 26, 083 ' 26, 474 ' 26, 652
27, 339
27, 709
27, 637
27, 934
r
110,291
'77,019
' 88, 732
123. 296
112, 244
89, 193
26, 416
32, 261
19, 116
13. 145
. 2967
24, 671
26, 904
'27, 107
28,812
116,247
75,414
84, 342
111,553
77, 091
108 121
. 2967
24, 978
26, 202
45, 423
36, 811
58, 949
47, 993
42, 242
62, 371
46, 729
39, 487
69, 608
43, 187
48, 914
63, 879
36, 880
44, 140
56, 569
40, 210
35, 652
61, 017
38, 022
40. 836
58, 103
42, 154
41, 598
58, 490
44, 741
44, 987
58, 236
52, 562
43, 234
67, 494
48, 687
35, 007
81, 152
48,518
37,108
. 1350
.1340
.1268
.1275
.1341
. 1368
.1400
.1374
.1350
.1350
. 1350
. 1326
42, 144
36, 410
42, 810
43, 612
45, 918
30, 796
41, 234
22, 031
34, 107
39, 873
30, 570
3, 592
7,012
4,441
19, 433
8, 003
11, 430
4,071
7, 788
5,162
17,629
5, 206
12, 423
3, 968
7,680
5, 192
16, 029
4,402
11,627
3,286
7,562
3,245
7,508
4,989
3, 151
6,580
4,329
16, 932
4,935
11, 997
2,798
6,619
2, 962
6,855
4, 276
23, 466
10, 436
13,030
3,011
6,519
4,001
26, 164
13,086
13, 078
2,964
4,257
5, 826
3, 698
28, 460
15,717
12, 743
2, 986
6, 182
3, 822
32, 928
18.407
14,461
4,101
5, 251
1. 2150
4, 573
6,686
1. 2140
1, 915
2,017
1,214
5,821
. 8163
2,376
0,992
. 8068
1.910
5, 372
. 8231
3,329
6,739
.9746
4, 230
5, 495
.9295
2,798
7,229
1.0111
6, 388
. 8085
5, 067
. 8319
r 3. 648
5 802
. 8461
. 84 S3
49, 356
r 51 , 680
47, 790
r 46, 365
r 42, 305
' 40, 965
' 39, 188
' 38, 771
36, 460
37. 745
;]8, 717
76, 899
71,710
67, 729
93, 664
83, 485
77, 285
72, 388
99, 864
80, 459
86, 043
78, 211
94, 280
82 422
84, 250
75, 648
92, 452
81, 617
76, 784
72, 612
97, 285
80, 825
74, 204
69, 498
103, 906
83, 241
69, 250
65, 450
117.897
81,211
57, 547
55, 167
141, 561
84 031
67, 175
65, 470
158,417
75, 891
68, 685
165, C23
79 116
63, 896
55, 487
180, 843
78 561
60, 692
54, 865
198,712
.1148
27, 475
984
.1103
54, 767
3,859
.1100
51, 609
473
.1100
75, 808
338
.1100
102, 632
143
. 1100
66, 834
182
.1098
54, 950
49
.1018
53, 446
124
.1000
61, 532
325
. 1000
48, 538
2,831
.1000
73. 246
4 454
. 0976
7,837
18, 654
29, 020
21, 888
26, 601
24, 535
47, 708
27, 762
64, 206
38, 283
41, 600
25, 052
38, 882
16,019
42, 062
11,260
51, 095
10, 112
36, 198
9,509
10.440
1,821
3 840
6,327
2 782
5 986
2, 095
5. 957
62, 010
65. 238
45.113
r
51,103
4, 985
13, 592
2, 135
11, 457
r
13, 391
1, 935
11, 456
20, 340
7,536
12, 804
63,617
92, 496
58 352
H EATING APPARATUS, EXCEPT
ELECTRIC
Radiators and convectors, cast iron:^
Shipments
_ .
thous. of sq. ft
Stocks, end of month
do.
Oil burners: I
Shipments
number. _
Stocks, end of month
do
r
Revised.
2,634
4, 044
2,621
2, 435
4,028
4,625
1,740
5,310
6,745
2,477
9,085
2,591
8,404
3, 345
7,909
3 336
7, 152
49, 026
49, 915
45, 345
58, 324
56, 336
67, 262
53, 904
78, 784
64, 173
86, 387
74, 416
86, 635
79, 735
81, 190
95, 622
77, 821
100, 955
67, 613
103, 493
71.687
73. 994
* Preliminary.
§Substituted series. Compiled by the U. S. Department of Interior, Bureau of Mines: monthly data for 1951 and 1952 appear on p. 24 of this SURVEY. Government stocks represent
those available for industrial use.
cf Data beginning June 1953 are compiled by The Institute of Boiler and Radiator Manufacturers and represent substantially complete coverage of shipments of cast iron radiators and
convectors.
^Revisions for January-July 1952 are shown in a footnote on p. S-33 of the January 1951 SURVEY.
SURVEY OF CURRENT BUSINESS
S-34
Unless otherwise stated, statistics through
1952 and descriptive notes are shown in the
1953 Statistical Supplement to the Survey
March 1954
1954
1953
January
Febru-
ary
March
April
May
June
July
August
Septem-
ber
October
Novem-
ber
Decem-
ber
January
METALS AND MANUFACTURES—Continued
HEATING APPARATUScf— Continued
Stoves and ranges, domestic cooking, excl. electric:
Shipments, total-.
.
number-- 187, 745
8,723
Coal and wood
do - . _
170, 675
Gas (incl bungalow and combination)
do
8,347
Kerosene, gasoline, and fuel oil
do . .
145, 700
Stoves, domestic heating, shipments, total
do
12, 061
Coal and wood-- _
.
do
57, 487
Gas
do
76, 152
Kerosene, gasoline, and fuel oil
do ...
Warm-air furnaces (forced-air and gravity air-flow) ,
57, 778
shipments, total
. number
31, 426
Gas
do
22, 101
Oil
do ...
4,251
Solid fuel
do
191, 754
Water heaters, gas, shipments*
do
MACHINERY AND APPARATUS
Blowers, fans, and unit heaters, quarterly:
Blowers and fans new orders
thous of dol
Unit heater group, new orders
do
Foundry equipment (new), new orders,
netj
1947-19=100..
Furnaces, industrial, new orders, net:
Electric processing
thous. of doL.
Fuel-fired (except for hot rolling steel)
do
Machine tools:
New orders
mo. avg. shipments, 1945-47 = 100..
Shipments
do
Pumps, steam, power, centrifugal and rotary, new
orders
_
thous. of dol
Tractors (except garden), quarterly:*
Shipments totalO
do
Wheel type (excl. contractors' off-highway)
thous of dol
Tracklaving
do
205, 872
8,089
187, 702
10, 081
124, 334
11, 735
60, 568
52, 031
228, 602
8, 125
210, 048
10, 429
147, 598
17, 218
78, 544
51, 836
238, 851
7,420
220, 939
10, 492
137, 623
20, 782
72, 366
44, 475
197, 483
5,075
181, 682
10, 726
154,965
25, 503
78, 136
51, 326
179, 651
5,435
167. 070
7,146
216, 485
27, 617
116,059
72, 809
171,491
5,796
159,515
6,180
297, 809
47, 056
153, 104
97, 649
203, 752
7,006
187, 515
9,231
396, 268
51, 841
221, 532
122, 895
227, 248
9,636
209, 249
8,363
479, 103
67, 332
239, 419
172, 352
222, 942 ' 176, 297
r 6. 876
7,543
159, 270
205, 038
10, 361
10, 151
401, 695 ' r244, 688
27, 610
55, 51 7
223, 002 '157.005
60, 073
123, 176
55, 368
29, 815
21, 662
3,891
196. 601
64, 115
32, 748
27, 353
4,014
211, 404
67, 543
37, 260
26, 812
3,471
211, 405
70, 814
37, 755
28, 297
4,762
185,873
92, 294
49, 314
36, 296
6, 684
172, 243
90, 953
46, 939
38, 318
5,696
170, 356
109, 172
54, 014
47, 210
7,948
159, 730
126, 181
59, 736
56, 280
10, 165
171, 779
121, 467
58, 374
53, 203
9,890
185, 388
r
r
' 86. 578 64,285
' 43, 137
33, 495
r 37, 895
27. 984
' 5, 546
2.806
148, 855
135, 054
40, 368
16, 959
51, 158
14, 823
41, 857
12, 223
150, 392
5,516
134, 904
9.972
97. 479
11.028
58 326
28, 125
41 832
16, 683
'99.6
'97.5
' 132. 2
182. 1
r 156. 4
' 158. 9
r 235. 5
' 127. 7
'87.1
' 149. 4
'160.8
173.8
1,655
3,540
1,672
3,996
1,301
3,607
1,796
3,017
1,799
2,609
2,095
2,550
2,241
1,983
1,711
5,454
834
3,003
1,531
1,868
1,166
1, 690
909
1,624
1, 356
1,832
255.8
361.6
282.1
354.5
327.0
375.9
276.8
372.7
246.4
356.0
273.4
342.2
247.3
267.6
286.9
299.6
223.7
328.3
198.7
348.4
146.6
320.2
'149.8
'301.4
P173.7
P319.6
5,752
6,521
8,255
7,758
4,629
5,690
5,533
4,886
4, 845
5,097
4,634
111.8
4, 645
278, 227
285, 078
206,541
149 094
182, 346
84, 795
175, 667
93, 086
112,025
84, 615
76, 524
66, 201
ELECTRICAL EQUIPMENT
Batteries (automotive replacement only), ship2,004
1,202
1,245
1,162
1,571
1,455
ments
.
thousands
Domestic electrical appliances, sales billed:
88.3
107.6
95.7
106.0
93.3
80.5
Refrigerators, index f
1947-49=100
197, 506
329, 294
268, 548
252, 404
246, 007
Vacuum cleaners, standard type
number-- 255, 886
313, 005
294, 960
295, 393
353, 972
333, 601
282, 453
Washers
.
do
Radio sets, production^... do _ _ . 1,093,142 1, 192, 439 U, 549,203 1, 158, 936 1, 108, 991 11,163,831
Television sets (incl. combination), production§
481, 936 i 524, 479
730, 597 1 810, 112
567, 878
number.. 719, 234
Insulating materials and related products:
Insulating materials, sales billed, indexf
174.4
174.2
173.9
190.2
189.1
176.5
1947-49=100..
Fiber products:
Laminated fiber products, shipments©
10, 299
11,072
11, 322
10, 609
10,427
10, 268
thous. of dol. .
Vulcanized fiber:
4,673
4,701
4,452
4,843
4,360
4,466
Consumption of fiber paper
thous. of lb_.
Shipments of vulcanized products
1,870
1,882
1,725
1,999
1,895
1,791
thous. of doL.
Steel conduit (rigid) and fittings, shipments
24, 605
22,182
23, 188
21 946
22 206
26, 058
short tons
Motors and generators, quarterly:
186.3
' 156. 2
New orders, indexf
1947-49— 100
Polyphase induction motors, 1-200 hp:l
46, 319
41, 127
New orders
thous of dol
45, 863
39 639
Billings
do
Direct current motors and generators, 1-200 hp- 1
8,821
7,512
New orders
thous of dol
10, 064
8,858
Billings
do
2,528
2,707
2,852
2,825
' 2, 173
' 1, 890
1,791
87.4
159, 446
233, 191
674, 459
62.2
35.2
46.4
62.6
227, 253
188, 536
216, 227
249, 383
349, 342
244, 144
296, 589
319, 066
991, 637 !1,216,525 1, 052, 493 1,065,785
a, 101, 115
221, 233
256, 596
871, 981
316, 289
603, 760 i 770,085
680, 433
560, 197
i 449, 787
420, 571
154.4
129.6
133.1
149.8
152.8
152.6
53.1
190, 773
200, 034
8,872
8,505
9,222
9,591
8,879
8.894
8.345
4, 033
4,197
4,287
4,287
3,591
3, 571
3, 346
1,645
1,720
1,653
1,716
1,367
1,405
1,421
31, 497
14, 874
15, 575
17, 254
171.3
144 6
42,088
41, 186
36 341
37 804
7,917
9, 521
7 883
11 490
PETROLEUM, COAL, AND PRODUCTS
COAL
Anthracite:
Production
.
thouf. of short tons
Stocks in producers' storage yards, end of month
thous. of short tons..
Exports ._
do
Prices:
Retail, composite 9
dol. per short ton..
Wholesale, chestnut, f. o. b. car at mine, .do
Bituminous: cf
Production
thous. of short tons. _
Industrial consumption and retail deliveries,total
thous. of short tons..
Industrial consumption, total
.
do
Beehive coke ovens
do
Oven-coke plants
do
Cement mills
do
Electric-power utilities
do
Railways (class I)
do .
Steel and rolling 'mills
do
Other industrial
do
Retail deliveries
_
do
r
2,626
2,365
2,284
1,987
2,783
2,886
2,475
2,378
2,650
2,904
2 315
' 2 370
2 632
1,674
180
1,623
149
1,635
140
1,611
91
1,608
271
1,654
323
1,726
220
1,759
254
1,786
324
1,870
365
1,929
247
1,916
159
1,726
26.97
16. 013
26.97
16.013
26.97
16. 013
26.95
14. 619
25. 53
14. 619
25. 53
14. 944
26.16
15. 319
26.16
15. 550
26.19
15. 756
26.23
15.508
26.34
15. 533
26.34
15. 533
26. 36
» 15. 533
' 40, 583
35, 465
' 37, 082
33, 640
' 37. 604 ' 34, 375 '31,960
' 31, 561 ' 32, 476 ' 33, 492 ' 34, 298 ' 36, 650 35, 769
'31,848
' 30, 058 ' 29, 236 ' 28, 720 ' 29, 274 r 29,r 473 ' 28, 973 ' 30 942 *• 30 398
' 585
'848
' 799
'853
' 783
'641
644
585
491
8,956
8,583
8,993
8,725
9,035
' 8, 553
8,767
8,946
8 352
T 701
709
668
686
682
668
664
692
686
9,123
9,409
8,618
8,293
8,758
9,287
9,390
9,917
9,865
2,191
2,560
2,413
2,134
2,334
2,168
2,239
2,227
2 096
625
454
449
421
559
474
424
469
481
9,027
8,422
7,164
6,985
7,597
7,160
7,203
8,262
8 427
3,202
2,841
4,019
5,756
2.724
5.325
4,317
5,708
5.371
39, 057
31 914
476
8 298
737
10, 571
2 092
555
9 185
7.143
39, 772
31 416
258
8 050
735
10, 620
1 939
566
9 268
8. 336
' 39, 576 ' 34, 398 ' 36, 566 ' 37, 135
'41,417
'37.017
' 33, 421 ' 30, 124
'752
' 722
8,923
8,068
764
687
10, 170
8,877
2,833
2,448
679
617
9,300
8,705
7,996
6,893
' 37, 350 ' 38, 632 ' 34, 954
' 40, 265 '40,994
Revised.
» Preliminary.
i Represents 5 weeks' production.
cf Revisions for January-July 1952 for heating apparatus and January-September 1952 for bituminous coal will be shown later.
*New series. Water-heater shipments are compiled by the Gas Appliance Manufacturers' Association beginning June 1953 and by the U. S. Department of Commerce, Bureau of the Census,
for earlier months; data represent total shipments of gas water heaters based on reports from manufacturers representing 98 percent of the total industry; monthly data prior to August 1952 will
be s-hown later. Tractor shipments are compiled by the U. S. Department of Commerce, Bureau of the Census, from quarterly reports received from active manufacturers of complete tractors;
data represent total shipments reported by all producers of the specified types of tractors. Annual totals beginning 1922 are available upon request; data for the first three quarters of 1952 are
shown in the January 1954 SURVEY.
{Revised to reflect use of new base period.
©Includes contractors' off-highway wheel-type tractors.
tRevised series, reflecting use of new base period; data prior to August 1952 will be shown later.
§Radio production comprises home, portable battery, automobile, and clock models; television sets include combination models. Data for March, June, September and December
1953 cover 5 weeks; other months, 4 weeks.
0Data for January-October 1953 cover 17 companies, November-December, 18, and beginning January 1954, 19 companies.
IData beginning 3d quarter 1953 for polyphase induction motors cover 33 companies, for direct current, 27 companies; earlier data shown cover 34 and 28 companies, respectively.
9 Revised to represent weighted average price of anthracite stove based on quotations in 6 cities as follows: Baltimore, Boston, Laconia (N. H.), Madison (Wis.), Middletown (Conn.),
and New York.
SURVEY OF CUEKENT BUSINESS
March 1954
S-35
1954
1953
Unless otherwise stated, statistics through
1952 and descriptive notes are shown in the
1953 Statistical Supplement to the Survey
January
February
March
April
May
June
July
August
September
October
November
December
January
PETROLEUM, COAL, AND PRODUCTS—Continued
CO A L— Continued
Bituminous — Continued
Consumption on vessels (bunker fuel)
thous. of short tons.Stocks, industrial and retail dealers', end of
month , total _ _
thous. of short tons. _
Industrial, total
Oven-coke plants ..
Cement mills
Electric-power utilities
Railways (class I)
Steel and rolling mills _
Other industrial
_
.
_
.-
Retail dealers
do
do
do
do
do
do
do
do
Exports . . .
_.
. . _ do_
Prices:
Retail, composite t
- dol. per short tonWholesale:
Mine run, f. o. b. carat mine.-.
do
Prepared sizes, f. o. b. car at mine
do
11
9
9
73
79
73
72
73
66
66
54
19
73, 346
71, 385
70, 235
70, 531
72, 912
76, 026
74, 752
77, 997
81, 005
82, 719
82, 381
80, 614
75, 741
71, 857
13, 400
1,362
34, 771
2,973
983
18, 368
70, 110
13, 381
1,245
33, 906
2,892
943
17, 743
69, 187
13, 276
1,106
33, 926
2 764
69, 473
13, 408
1,057
34, 649
2,571
71, 660
13, 897
1 106
35, 880
2 571
74 475
14, 545
1 226
36, 955
2 774
73, 153
13, 221
1 197
37, 767
2 576
76, 387
14, 698
1,341
38, 758
2,533
79 372
15 910
1 454
39 713
2 639
81 099
16 609
1 505
40 468
2 605
1 028
18 794
80 642
16,720
1 541
40, 487
2 562
1,008
18 324
79 075
16, 486
1 461
39, 770
2 570
74 531
14,885
1 290
38, 090
2 432
977
931
17 811
16 903
1,489
1,275
1,048
1,058
1 210
2,207
1,584
1,575
3,150
940
922
935
961
918
919
17, 175
956
16, 866
17, 271
18 014
17, 474
18, 138
18 700
1,252
1,551
1,599
1,610
1 633
1 710
1,739
1 539
3,437
3,516
3,441
3,830
3 317
3 267
2 712
1 720
15.03
15.03
15.04
14.95
14.75
14 71
14.81
14.84
14 99
15 07
15 10
15 12
15 14
5.931
7.076
5.923
7.058
5.857
6.853
5.831
6.446
5.810
6 428
5.796
6 491
5.796
6.572
5.698
6.665
5 698
6 721
5.724
6 811
5.716
6 811
5.716
6 807
P 5 663
v 6 813
479
6 284
337
459
5 681
324
544
512
543
409
373
298
6 282
6 127
6 340
6 311
371
314
6,032
498
408
6 299
6 033
370
350
374
384
377
364
5r 894
380
5 795
341
6 181
334
2,075
1,672
402
111
51
1,995
1,641
354
130
43
1,973
1 581
2,009
1,541
2,135
1 606
2,129
1 572
2,221
1 529
2,376
1,598
2 475
1 624
2 513
1 630
2, 658
1 698
392
140
39
467
154
52
529
190
53
557
155
53
692
141
39
778
154
48
850
156
39
883
121
40
959
2 727
1 682
1 045
34
172
29
2 787
1 715
1 072
14.75
14.75
14. 75
14. 75
14.75
14.75
14.75
14.75
14.75
14.75
14.75
14.75
14.75
1,957
203 214
96
218, 288
1,828
183 736
94
195, 133
1,807
202 458
2,059
193, 389
2,378
198 086
1,973
197 837
2 468
204 701
2,128
204 059
94
91
T
2 134
188 315
2 253
193 378
94
217, 073
203, 425
94
95
2 290
196 717
2 489
194 108
93
217, 074
92
220, 197
222, 048
91
93
212, 433
93
210 686
213 017
209, 599
215, 892
272, 250
65, 902
188, 480
17, 868
273, 589
66, 451
189, 163
17, 975
275, 665
69, 077
188 897
17, 691
280, 487
71, 181
191, 494
17, 812
280, 308
71,011
191 556
17, 741
283, 715
73, 527
191 879
18, 309
284
74
192
18
976
269
450
257
285 352
73, 982
192 366
19,004
289
73
197
18
287
72
195
18
283
71
192
18
276
72
185
18
2,211
18, 507
2.570
2,011
16, 292
2.570
2 171
20, 221
2.570
2,833
18, 516
2.570
1 611
20,729
2.570
1 824
21, 559
2.820
1 232
19 175
2.820
1 321
19, 125
2.820
1 109
21 876
2.820
1 178
19' 190
2.820
1 052
17 919
2.820
1 378
19 841
2.820
47, 379
40, 515
42, 153
35, 704
46, 157
38, 931
42, 730
36, 572
43, 393
37, 120
43, 860
37 151
44, 682
37 942
44, 539
37 894
43, 433
36 098
45, 331
36 716
r
43, 901
r 38 684
44 663
38 652
63, 778
57, 557
52, 552
48, 531
50, 773
52, 769
38, 533
47, 192
28, 574
44 729
30, 389
43 045
25 140
41 330
26, 435
41 362
34 597
42' 697
34 379
44 349
r 44 061
47 280
64 013
54 092
7,702
2,055
' 7, 229
6,809
1,831
5,924
8,083
1,884
6,774
7,152
1, 757
7,075
6,087
1,735
7,090
6,116
1,938
6,747
6 347
2,008
6 720
6 552
1,811
r g 578
6 155
l'671
6 746
6 778
1 745
r 6 259
6 908
1 428
6 095
7 618
1 237
6 612
80, 655
45, 910
67, 167
44, 178
59, 802
41 600
61, 349
39, 572
73, 706
41 795
84, 504
43 801
102 394
47 966
119 542
50 007
126 709
50 516
135 409
50 820
r 133 381
r 51 267
111 944
49 370
2, 135
1,367
3,673
1,339
3 091
1,724
2,942
1,972
2 592
1,591
2 715
1,646
2 143
1 400
1 460
1 728
1 985
1 659
2 386
2 176
2 156
1 912
2 362
1 514
.098
.900
.098
.850
.098
.850
.098
.850
.093
.850
.093
.950
.093
3.050
.093
1.100
.093
1.100
.098
1.200
.100
1.350
.095
1.450
13, 434
17, 066
23, 487
325
11,313
13, 884
20, 468
11, 135
12, 092
18, 697
10, 825
8,256
20, 335
10 132
5,603
24, 307
9 795
5,467
27 659
9 945
5 982
31 143
9 940
4,945
35 711
9 §97
7 802
37 280
r 10 624
r 11 947
r 36 271
11 704
18 229
29 07Q
429
728
857
500
904
11 007
9 725
38 161
404
384
439
325
489
623
.108
.108
.108
.108
.103
.103
.103
.103
.103
.108
. 110
.105
4,210
3,032
11, 250
890
3,596
2,931
11, 224
4,321
3,229
11, 134
1,127
4,271
3,625
10, 801
4 572
3,444
10, 873
1 012
4 293
3,470
10, 611
1 020
4 321
3 905
9 879
1 105
4 627
3 646
9 684
1 084
4 562
3 563
9 700
4 647
3 384
9 726
1 190
r 4 553
4 572
3 041
10 070
1 193
COKE
Production:
Beehive
thous. of short tons
Oven (byproduct)
do
Petroleum coke _
do.
Stocks, end of month:
Byproduct plants, total
do
At furnace plants
do
At merchant plants. __
do
Petroleum coke
do
Exports
. --. _
do
Price, beehive, Connellsville (furnace)
dol. per short ton..
r
166
5 647
386
137
PETKOLEUM AND PRODUCTS
Crude petroleum:
Wells completed J
number..
ProductionJ
thous. of bbl
Refinery operations
percent of capacity
Consumption (runs to stills)
thous. of bbl. _
Stocks, end of month:
Gasoline-bearing in U. S., total
do,
At refineries
.do
At tank farms and in pipelines
- do
On leases
-do
Exports
Imports
-. -.
Price (Oklahoma-Kansas) at wells
do
do
dol. per bbl._
Refined petroleum products:
Fuel oil:
Production:
Distillate fuel oilt-_
...thous. of bbl._
Residual fuel oil J
. do
Domestic demand:
Distillate fuel oilj
__do.___
Residual fuel oilj
do.
Consumption by type of consumer:
Electric-power plants
do
Railways (class I)
.do
Vessels (bunker oil)
do
Stocks, end of month:
Distillate fuel oil
do
Residual fuel oil
_
do
Exports:
Distillate fuel oil
do.
Residualfuel oil
do
Prices, wholesale:
Distillate (New York Harbor, No. 2 fuel)
dol. per gal__
Residual (Okla., No. 6 fuel)
dol. per bbl._
Kerosene:
Production
-.
thous. of bbl
Domestic demandt
do
Stocks, end of month..
_
_do_
Exports .
do.
Price, wholesale, bulk lots (New York Harbor)
dol. per gal..
Lubricants:
Production.
_ _ _
thous. of bbl
Domestic demand J-. ._. __
do
Stocks, refinery, end of month
...do
Exports . -.
-__. do_
Price, wholesale, bright stock (midcontinent,
f. o. b. Tulsa)
-.dol. per gaL.
1
1
628
919
614
991
175
448
924
541
959
972
610
021
634
585
802
r 3 211
r 9 846
1 184
676
738
16.5
773
P2.820
8 285
p . 095
p 1.500
p. 105
.205
.220
.210
.210
.205
.195
.205
.225
.205
.205
.205
.195
v .190
'Revised.
» Preliminary.
1 New basis. Comparable data for December 1952 (thousand barrels): Distillate fuel, 98,895; kerosene, 27,529.
t Revised series. D$ta represent weighted averages based on quotations in 26 cities for all sizes of bituminous coaJ.
t Revisions for 1952 are shown on p. S-35 of the February 1954 SURVEY, except for domestic demand which has been further revised for the following items (units as above): Distillate fuel
oil—April, 33,825; November, 47,116; December, 60,993; residual fuel oil—January, 55,850; August, 41,867; December, 60,234; kerosene, December, 17,945; lubricants—June, 3.409- December
3,001.
'
SURVEY OF CURRENT BUSINESS
S-36
March 1954
1954
1953
Unless otherwise stated, statistics througH
1952 and descriptive notes are shown in the
1953 Statistical Supplement to the Survey
January
Febru-
ary
March
April
May
June
July
August
Septem-
ber
October
Novem-
ber
Decem-
ber
January
PETROLEUM, COAL, AND PRODUCTS—Continued
PETROLEUM AND PRODUCTS— Continued
Refined petroleum products— Continued
Motor fuel:
Gasoline (including aviation):
Production totalj
thous of bbl
Gasoline and naphtha from crude oilt
thous. of bbL_
Natural gasoline used at refineries
do
Natural gasoline sold to jobbers^
do
Domestic demand^
_
do
Stocks, end of month:
Finished gasoline
do
At refineries
_
_ do_Unfinished gasoline
do
Natural gasoline and allied products do- - .
Exports
do
Prices, gasoline:
Wholesale, refinery (Oklahoma, group 3)
dol. per gal-Wholesale, regular grade (N. Y.)
do -_
Retail, service stations, 50 cities
do
Aviation gasoline:
Production total
thous of bbl
100-octane and above
do
Stocks, total
--- -do _.
100-octane and above-.
do-- .
Asphalt:O
Production
do
Stocks refinerv, end of month
__
do
Wax:
Production
thous. o f l b _ Stocks refinery, end of month
do
Asphalt products, shipments:
Asphalt roofing, total
thous. ofsquares._
Roll roofing and cap sheet:
Smooth-surfaced
do
Mineral-surfaced
do
Shingles, all types
do
Asphalt sidings
do
Saturated felts
short tons
107, 413
96, 796
105, 897
101, 389
107, 243
106, 943
114, 123
114, 321
107, 729
109 061
108 623
112 473
95, 609
9,292
2,512
89, 634
86, 221
8,378
2,197
86, 458
93. 963
8,930
3, 004
98, 158
90, 359
8,088
2,942
102, 044
96, 091
8, 255
2,897
105,918
95, 051
8,948
2,944
114,703
101, 563
9,511
3,049
112, 960
101, 833
9,502
2,986
109, 124
95, 644
9,991
2,094
106, 158
96, 061
10, 380
2 515
106, 037
95, 544
10, 145
2 756
99, 210
98, 980
9 873
3 075
100 225
141, 746
79, 746
8,772
7, 575
2,652
149, 069
87, 232
8,804
7,748
2,349
153,315
89,513
9,416
8,268
2,513
148, 924
84, 695
9,108
8,849
3,239
147, 371
82, 322
9,044
10,359
2,185
137.863
78, 429
8,333
11,054
2,018
135,724
75, 545
8,192
11,253
2,742
137,972
77, 262
8,078
11, 959
2,509
136, 192
76, 698
7,992
12,636
2,647
136 398
74, 930
8 097
13, 193
2 018
142 472
78, 021
r
8 275
12, 223
2 614
151 129
86 761
.104
.129
.203
.104
.129
.206
.104
.129
.208
.104
.129
.206
.104
.129
.206
.104
.129
.221
.114
.142
.220
.114
.142
.220
.114
.142
.218
.113
. 142
.221
6,967
5, 992
9,673
5,241
6, 597
5, 81 5
9,425
4,887
7,341
5, 942
9,882
5,168
7, 263
6, 065
9,601
4,910
7,907
6 748
9,828
5,348
7,811
6 830
9,163
4,900
7,793
6 568
9, 516
5, 253
8, 153
7 013
9,941
5,700
7,894
6 655
10, 099
5, 640
7 337
5 994
10, 678
5,965
7 074
6 120
10, 162
5, 856
6 930
10,172
5 498
3,890
7, 525
3,921
8,687
4, 689
9,732
5, 330
10,473
6, 451
10,834
7,680
9,586
8,243
8,429
8, 366
7,094
7 689
5, 709
7 081
5 541
5 181
6 244
3 888
7 314
105, 840
160, 440
99, 680
150, 360
121,800
148, 400
1 1 8, 720
140, 840
1 22, 920
142,800
123,480
141, 680
111,440
140, 840
111, 160
146, 720
117,600
142 800
122, 080
148 400
121, 520
156 940
117, 600
150 640
3,111
2,966
3, 800
5,161
5,390
5,192
5, 505
6,327
5, 855
5,726
4,042
2, 613
2, 537
721
669
817
2,097
105
50, 646
1,018
1,108
3, 066
98
57 264
1,210
1, 147
3,148
119
59, 738
1,413
1,346
3, 568
144
71 876
1,265
1 338
3, 252
154
63 185
1,246
1 359
3,121
182
67 390
583
1 . 602
114
43, 423
1 , 029
1,197
3. 1 64
109
62, 520
898
1, 623
131
46, 292
1,062
1,078
3,022
120
64, 339
2. 149
135
53 352
568
661
1,308
89
49 271
767
695
886
.114
.142
. 222
r
995
10 428
2 411
r
' 141
.220
626
1,401
103
40 260
r- .111
* 1 36
.218
PULP, PAPER, AND PRINTING
PULPWOOD AND WASTE PAPER
Pulpwood:
Receipts
-- thotis. of cords (128 cu. ft.) _
Consumption
do
Stocks, end of month
do-- ..
Waste paper:
Receipts
short tons..
Consumption
_ _ do
Stocks end of month
_
do
r
0
2,432
2, 367
6, 006
2, 283
2,148
6, 132
2,260
2,405
5, 989
1,987
2, 375
5,598
1, 875
2, 406
5,063
2,259
2,370
4,947
2,436
2, 176
5,205
2,697
2,470
5, 433
2,494
2,306
5, 628
2 522
2 548
5 601
2 367
2 380
5 582
687, 220
708, 058
509, 058
647, 080
682, 469
476, 575
742, 150
741,071
474, 106
762, 156
750, 702
484, 184
723, 385
732, 924
473, 084
718, 942
734, 350
456, 525
656, 745
633, 320
480, 559
705, 640
743, 467
441,216
732, 704
748, 809
424 945
772, 202
754 254
442 481
682, 394
667 762
452 079
rr 646, 134
620 455
T 478 861
620, 329
648 411
454 933
1 477
58, 871
784, 840
205 504
36 875
208 619
93, 629
1 356
49, 214
715, 468
186, 191
34, 782
192 325
88, 308
1 512
56, 401
810, 905
203, 364
37. 084
206,012
89, 186
1 467
51, 686
783, 586
200, 232
33. 71 7
201, 951
99, 431
1 518
57, 914
812,940
201,416
35, 828
209 324
99, 650
1 483
63, 469
800, 485
188, 431
35, 639
199 893
98. 260
1 352
45 587
724 651
168 730
31 395
190 159
97, 351
1 546
68 163
844, 347
192 556
37 544
205 005
92, 031
1 434
64' 270
775 930
183 200
35 531
186 093
89, 092
1 573
51 716
868 864
204 710
38 485
9
02 922
96, 853
1 504
63 116
830 754
191 913
35 442
189' 449
91,576
r i y\45
720
184
34
r iqi
82,
1 497
"9 370
807 395
164, 777
46, 920
35, 175
1, 861
28 094
158,
39,
32,
1,
31
036
166
592
936
683
1 65, 367
42, 1 86
36, 738
2, 190
33 052
1 64, 671
41,427
40, 609
1. 711
34 740
1 73. 01 3
41,965
42, 354
1 . 348
37 271
1 75. 1 79
36, 343
42, 988
1.497
35 187
154,215
36, 725
38, 319
1,582
32 525
163 100
42, 459
37, 636
1 874
31 204
153 880
40,615
28, 206
2 677
27 555
145 601
43, 100
28, 028
3 208
25 849
156 634
43, 766
29, 492
3 298
25 980
148 629
41,252
32, 808
2 957
27 ^98
13,489
191,287
19, 387
81,119
66, 125
2, 560
21, 302
6, 228
170, 648
16,415
72, 752
58, 599
2,427
19, 664
10.449
167, 154
20, 359
69, 852
55, 693
3,205
17,278
12, 646
1 75, 608
21, 523
71, 088
62, 430
3,030
16, 694
8, 672
191, 660
20, 354
83, 397
61, 564
2,429
23, 462
11,885
198, 103
23,614
84,371
61, 293
2,604
25,572
13, 285
164,819
23, 848
64, 004
52 050
2,499
21 853
9,236
186, 928
22, 303
79, 701
62 304
2,594
19 380
11,712
179 473
22,911
68, 156
60 714
3, 259
23 417
17, 958
183 914
24. 125
70 605
57 870
3' 726
°6 765
17,162
174 942
23, 603
62 278
60 768
3 328
23 086
28
177
17
76
57
3
9Q
2,205
1, 053
1,032
119
2,066
987
967
112
2,281
1,077
1,076
128
2,265
1,084
1, 056
125
2,263
1.085
1,052
126
2, 263
1, 067
1,071
125
2,042
981
941
120
2,298
1,082
1,100
117
2,225
1,065
1, 053
107
2,409
1,158
1 134
116
2, 186
1,046
1 031
109
r
r
2 220
2 157
5 639
386
'~> 360
5 639
WOOD PULP
Production :
Total all grades
thous of short tons
Dissolving and special alpha
short tons
Sulphate (paper grades)
._ _
__ _
do
Sulphite (paper grades)
do
Soda
do
Groundwood
do
Defibrated, exploded, etc
do
Stocks, own pulp at pulp mills, end of month:
Total all grades
_
short tons
Sulphate (paper grades)
do
Sulphite (paper grades)
do
Soda
do
Groundwood
-• -~
do
Exports, all grades, total
Imports, all grades, total
Dissolving and special alpha..
Sulphate
__ __ Sulphite (paper grades)
Soda
_
Groundwood
do
dodo_- - -do_do_
-- -do
do-
.. -
r
r
016
957
^93
343
255
766
9()1
^9'^
38 r ) ( K)
203 614
90, 246
155 Q8i
42, 188
33, 457
3 754
2s 4^(j
9f)5
164
939
627
990
?97
869
PAPER AND PAPER PRODUCTS
All paper and paperboard mills:
Paper and paperboard production, total
thous. of short tons_.
Paper (incl. building paper)
do
Paperboard - ____
. . do
Building; board
do. _.
r
' 2, 023
' 1,012
r 91(5
95
2, 163
1 , 064
996
101
Revised.
*> Preliminary.
^Revisions for 1952 are shown on p. S-36 of the February 1954 SURVEY, except for gasoline which has been further revised as follows (units as above): Total production. December, 107, 877;
domestic demand, December, 96,785.
O Prior to the October 1953 S U R V E Y , data were shown in short tons (5.5 bbl. per ton).
S-37
SURVEY OF CURRENT BUSINESS
March 1954
Unless otherwise stated, statistics through
1952 and descriptive notes are shown in the
1953 Statistical Supplement to the Survey
1954
1953
January
February
March
April
May
June
July
August
September
October
November
December
>• 802, 024
r 845, 304
' 857, 709
r 845, 965
r 495, 493
828. 000
826, 287
851,000
847, 000
497, 470
January
PULP, PAPER, AND PRINTING—Continued
PAPER AND PAPER PRODUCTS—Con.
Paper, excl. building paper, newsprint, and paperboard (American Paper and Pulp Association) :
Orders new
short tons
Orders unfilled end of month
do
Production
do
Shipments
do
Stocks, end of month
do
Fine paper:
Orders new
do
Orders, unfilled, end of month
do
Production
do
Shipments
do _ Stocks end of month
do
Printing paper:
Orders new
do
Orders unfilled end of month
do
Production
do
Shipments
do
Stocks end of month
do
Price, wholesale, book paper, "A" grade, English finish, white, f. o. b. milL.dol. per 100 lb_.
Coarse paper:
Orders new
short tons
Orders, unfilled, end of month
do
Production
do
Shipments
do
Stocks end of month
do
Newsprint:
Canada (incl. Newfoundland):
Production
_
-_.do._ Shipments from mills
_
do
Stocks at mills end of month
do
United States:
Consumption by publishers
. . do
Production
„
do
Shipments from mills
do
Stocks, end of month:
4t mills
do
At publishers
_.
do
In transit to publishers
do
Imports
- do
Price, rolls, contract, delivered to principal
ports
dol. per short ton
Paperboard (National Paperboard Association):
Orders new
- -short tons
Orders, unfilled, end of month
do
Production, total
do
Percent of activity
Paper products:
Shipping containers, corrugated and solid fiber,
shipments
mil sq ft. surface area
Folding paper boxes, value:
New orders
.- 1947-49 = 100
Shipments
-do
886, 474
817, 728
874, 859
862, 142
437, 021
811, 295
820, 807
809, 914
803 669
439, 583
922, 907
866, 131
882, 601
877, 582
444, 322
856, 801
853, 842
881, 403
869,011
456, 707
856, 552
837, 262
872, 696
873, 123
456, 255
857, 394
841, 175
852, 103
853, 480
490, 105
852, 229
898, 245
785, 661
795,157
480, 613
861, 210
886, 394
868, 688
867, 756
481, 655
871, 848
910, 040
854, 827
848, 200
487, 000
r 917, 863
' 889, 245
936,711
r
937. 805
>• 483, 750
104, 433
41, 996
104, 212
99, 460
110, 858
100,915
42, 247
99, 778
96, 998
109, 930
114, 747
48, 125
108, 326
108, 867
109, 109
111,120
49, 915
111,896
109, 255
111,740
103,939
44, 030
112,343
109, 820
114, 265
106,914
44, 180
108, 556
106,764
116,057
110,098
60, 575
91, 846
93, 699
114,204
104, 843
57, 398
108, 168
108,020
114, 352
100, 159
52, 020
108, 598
105, 535
117,057
r 109, 887
44, 211
115.846
'116,817
r 116, 437
305, 091
491, 465
305, 873
299, 644
147, 500
285, 911
495, 190
282, 239
281, 305
148, 463
339, 405
528, 013
307, 094
306, 583
148, 974
294, 237
518, 375
305, 703
303, 514
151, 165
297, 385
515,610
302, 870
300, 510
153,525
30S, 394
524,410
298, 215
299, 593
151,800
310, 681
552, 480
280, 905
282,611
150, 094
280, 988
527, 024
308, 446
301, 142
157, 512
314, 921
549, 458
294, 782
292, 487
159, 705
"•311.553
r
545. 979
321. 420
'•315.040
'•166,074
13.55
13. 55
13.55
13. 55
13. 55
13. 72
13. 80
13.80
13.80
291, 690
180, 285
289, 853
286, 510
123, 600
264, 708
178,315
266, 787
266, 678
123, 705
296, 149
182, 329
293, 058
292, 135
124, 628
278 359
173, 820
287, 262
286, 865
125, 025
290, 418
168. 430
292. 593
295 808
121,810
272 040
164,575
279, 036
275 893
124 950
270, 964
178,095
256, 249
257 445
123, 757
308, 039
198, 355
2SO, 756
2S7 770
122 735
2H8, 1559
205, OS
283, 163
2SO « %> S
125 070
473, 640
467, 627
128, 525
439, 167
408, 610
159, 082
484, 276 • 480, 316
441, 512
498, 889
201, 846
183, 273
480, 239
467. 656
195, 856
463, 193
486. 389
172, 660
491,254
494,212
169, 702
484, 507
498, 506
155, 703
467, 431
482, 598
140, 536
351, 775
93, 789
93, 908
346, 035
82 892
83, 208
420, 956
91,911
94, 505
408, 874
88, 194
89. 004
429, 562
92, 405
91, 168
381, 186
90, 727
89, 640
340, 044
88, 121
90, 755
359,133
90, 821
92, 295
11, 607
556 022
89, 767
391, 816
11, 291
555, 508
93, 225
377, 700
8, 097
518, 985
85, 618
422, 878
7,887
515 OH3
91, 272
436, 024
9,124
483, 059
69, 684
405, 424
10,211
484, 762
76, 270
428, 210
514! 320
81,719
404, 365
6, 106
539. 622
91,010
436, 879
125. 25
125. 25
125. 25
125. 25
125. 25
125. 25
971, 800
455, 100
985, 500
91
968, 700 1, 156, 300 1, 101, 800 1, 040, 100 1, 152, 100
437, 300
567, 500
459, 800
539, 000
567, 000
973, 800 1, 072, 900 1,071,200 1, 073, 400 1, 092, 000
95
95
95
96
93
r 94. 969
94. 000
r 39, 792
34, 792
106. 106
101.000
' 99, 388 99. 000
>• 123, 155
125. 150
r
304, 000
r 275. 776
r 522. 018
530. 000
' 296, 073 296. 000
296, 000
»• 290. 737
>• 162, 410
102. 400
13.80
13.80
1 3. 80
r
268. 476
r 31 3, 043
r 201, 230 T 185,485
313.984 rT 290, 81 7
r \\\ 7 495
284 22!
r 99
I 559 r 129 155
271,000
164,500
290. 000
292 000
127 150
510, 772
506, 544
144, 764
473. 170
491 i 450
126, 490
473, 325
488, 571
111, 244
•176,151
452, 470
134,925
385, 380
85, 966
85, 824
429, 509
97,112
96, 288
427, 904
92, 385
90, 847
3S8. 237
89| 656
90, 240
"90, 284"
95, 132
6, 248
548, 537
77, 414
402, 053
7, 072
514,419
80, 803
437, 867
8,610
404, 899
87, 408
412, 584
8, 026
477, 800
73, 909
448, 251
125. 75
125.75
125. 75
125. 75
125. 75
973, 300 1,105,200 1,139,300 1,078,600 1,021,400 1,011,211
522, 500
374, 400
392, 400
590, 800
467, 400
423, 700
992, 200
939, 700 1,122,400 1,069,600 1, 170, 700 1, 051, 000
94
79
98
81
94
97
885, 379
330, 839
937, 720
89
125. 75
13.80
9, 178
6, 363
6, 398
7,292
7, 059
6,806
7,012
6,459
7,041
7,198
7,457
6, 661
6,256
5,815
160. 7
148.0
154.9
138.4
183. 1
158.6
169.4
153.4
162. 5
152.7
174. 6
155.6
162.6
143.9
176.9
158.4
160. 5
169.2
172.7
177.7
149.5
152. 8
156. 4
154. 1
174. 0
161.9
814
629
185
1, 031
811
220
1, 031
805
226
852
701
151
1, 359
1,069
290
993
815
178
736
568
168
1,014
800
214
844
738
106
1, 323
1,132
191
1 . 079
867
212
974
789
185
826
650
176
43 732
119 332
44, 156
45 295
121 618
58, 625
46 744
114 191
46, 729
43 251
112 677
49' 743
r 42 400
r 112 310
47 170
119 igi
PRINTING
Book publication, total
New books
New editions
number of editions. _
do
- -do
RUBBER AND RUBBER PRODUCTS
RUBBER
Natural rubber:
Consumption
long tons
Stocks, end of month
_
do__
Irnports, including latex and guaytile
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
47, 766
97, 730
63, 921
45, 231
94, 151
48, 455
50, 707
98, 627
56, 785
49, 375
108, 892
60, 578
46, 889
113, 532
56, 126
48 224
112 959
61, 423
43 929
118 825
54, 001
45, 947
.295
272
.260
.244
.250
.245
.239
.234
69, 482
72, 810
117, 875
1,487
66, 970
68, 888
114, 099
1,264
81, 408
77, 903
116, 089
1,713
82, 952
77, 221
122, 041
1, 500
85, 302
72, 234
132 109
2,299
80, 227
71, 751
143 789
1,781
79, 360
61 299
159 486
1 923
68, 299
59 241
169 152
1 996
26, 784
25, 356
31, 244
24, 373
24, 098
30, 631
27, 699
27, 334
30, 280
28, 714
26, 483
31, 263
26, 839
25, 213
31 763
26, 315
24 637
32 791
23 001
23 414
31 506
22 532
22 666
30 318
8 238
7,882
3 004
4,794
84
14, 118
86
8 236
7 243
3, 263
3, 895
85
15, 295
121
9 407
8 256
3 570
4,598
87
16, 456
96
9 262
8 913
3 798
5,001
115
16,872
112
987
942
200
604
139
16, 973
135
8 572
9'? 279
3 537
5' 601
142
16 259
137
8 173
9 555
3? 61 6
5 793
146
14 883
137
416
798
130
523
145
13 550
14°
148
424
837
438
149
13 287
158
664
573
155
246
172
13 446
137
566
085
221
729
135
14 8549
13
481
667
620
903
143
15 720
137
999
OO9
891
993
118
14 977
<• 6, 195
7 583
10 284
46
6, 428
6 364
10, 308
49
7,470
6 555
11 242
69
7 544
6 760
12 155
80
6 940
6 586
12' 592
80
7 035
6 907
12 811
59
6 395
7 302
12 097
65
5 679
6 529
10 226
57
5 656
5 720
11 288
99
5 752
5 960
10 904
75
4 738
4 006
11 611
70
4 533
4 095
1 1 504
68
5 395
fi 834
10 107
.235
60
58
167
2
. 200
.20(5
677
652
625
244
57 170
58 515
166 724
1 712
57 221
59' 670
106 523
2 359
23 360
22 409
30 147
23 534
9] 944
30 692
21 191
19 6^8
31 22o
.209
.204
373
909
345
088
57 299
50 120
181 228
r 21 208
19 741
19 106
39 933
59
r 50
T 175
2
r Ig g58
T 32 319
TIRES AND TUBES
Pneumatic casings:
Production
Shipments total
Original equipment
Replacement equipment
Export
Stocks, end of month .
..
Exports
Inner tubes:
Production - . .
Shipments
Stocks, end of month
Exports
_
r
Revised.
thousands
do
do
do-do
do
do
._
do
do
do
do
r
r
8
8
3
5
7
8
3
5
7
7
2
4
7
7
3
4
6
5
2
2
6
5
2
2
(j
7
2
3
SURVEY OF CURRENT BUSINESS
S-38
Unless otherwise stated, statistics through
1952 and descriptive notes are shown in the
1953 Statistical Supplement to the Survey
March
1953
January
February
March
April
May
June
1954
July
August
September
October
November
December
January
STONE, CLAY, AND GLASS PRODUCTS
ABRASIVE PRODUCTS
Coated abrasive paper and cloth, shipments reams. . 168, 910
184, 754
193, 830
206, 348
178, 323
183, 075
172, 177
160, 350
186, 236
202, 356
167, 782
187, 434
21, 802
93
20, 891
24,
773
r
9 715
23, 399
97
22, 924
25,
247
r
9 401
22,698
97
26, 400
21,
542
r
8 832
24, 134
100
26, 480
19,
204
r
7 829
24, 289
101
27,092
16,445
'6 652
23, 795
102
27, 433
12,
859
T
5 001
24, 738
103
27, 556
r
10, 049
M 109
22, 529
97
19, 495
13,
083
r
4 022
20,243
84
14, 130
19, 196
5 308
485 905
495, 613
499 936
496, 994
533 073
544 733
521 922
540 237
526 678
517 921
531 172
533, 562
538, 051
548, 073
490 055
469, 095
450, 729
376, 469
PORTLAND CEMENT
Production
Percent of capacity
__.
Shipments
Stocks, finished, end of month
Stocks, clinker end of month
thous. of bbL.
thous. of bbL.- do _ - .
do
«• 18, 856
79
13, 520
21,
294
r
7, 445
17, 325
80
14, 155
24, 464
8,899
391, 241
353, 088
377 166
375, 051
20, 215
84
20,813
23, 865
'9 895
17.769
74
11.143
25, 857
8 209
CLAY PRODUCTS
Brick, unglazed:
Production^
thous of standard brick
Shipments}:
do
Price, wholesale, common, composite, f. o. b.
plant
.
dol. per thous
Clay sewer pipe, vitrified :$
Production .
._
_ short tons
Shipments
do
Structural tile, unglazed:}:
Production
_
do
Shipments
do
447, 707
439, 031
27. 409
27. 410
27. 677
27. 789
27. 791
27. 839
27. 957
27. 957
28. 100
28. 100
28. 147
28. 147
113, 227
94, 920
124, 673
106 651
143, 156
136, 741
142, 147
135,874
139,598
131 359
145, 562
140 039
136, 631
145, 519
139 095
148 165
144, 989
147 954
144, 393
154, 601
135, 081
124 716
131,519
95 572
81, 541
63, 050
73, 976
68 020
79, 890
74, 735
80, 799
80, 474
78, 329
83 583
80 701
85 114
84, 175
83 281
83 177
76 567
82, 428
75 654
85, 245
81, 884
81,631
73 528
75, 027
61 939
9,293
8,602
9,000
8,510
10,680
12, 170
10, 291
9,242
11,002
10, 504
10, 861
10, 225
10, 586
9,853
11, 489
10, 646
10, 214
10, 572
11,088
10, 229
9,622
8,850
8,889
9,292
f 28. 100
GLASS PRODUCTS
Glass containers:
Production
_
thous. of gross
Shipments, domestic, total
do
General-use food:
Narrow-neck food do_
Wide-mouth food (incl. packers' tumblers,
jelly glasses, and fruit jars) _ _thous. of gross . .
Beverage (returnable and nonreturnable)
thous. of gr oss-Beer bottles
- .do. Liquor and wine
do
Medicinal and toilet
._
do
Chemical, household and industrial
do
Dairy products
- -- _ . 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
r
10,009
8,820
861
825
1,293
1,006
1,284
923
824
1,090
1,649
1,032
736
727
805
2, 485
2,403
3,266
2,308
2,909
2,839
2,765
3,392
2,984
3,010
2,575
2,643
2,842
385
535
•"910
2,418
'848
260
10, 427
497
572
929
2,270
804
212
10, 677
828
883
1,418
3,071
1,102
308
8,970
1,033
967
906
1,869
925
229
9,741
1,149
1,111
1 040
1,984
816
210
9,909
1,317
1,181
994
1,879
871
221
1 0, 234
1,127
1,393
901
1,815
794
234
10 646
716
1,274
903
2,048
923
299
11, 193
440
1,104
1 098
2,077
895
325
10, 527
511
908
1,436
2,133
898
301
10, 996
703
553
1 308
2 012
697
266
11 388
1,138
703
968
2,001
694
417
10,683
346
514
937
2,262
878
234
11, 520
5,975
5,399
8,724
6,387
5,541
9,566
6,778
5,908
10, 230
6,029
5,886
10, 582
6,049
5,951
10, 705
5,296
4,800
11,089
3 861
4,931
9 953
5 705
5,389
10 107
4,810
4,785
10, 075
5,450
5,716
10, 267
4 685
3 986
10 716
4, 124
3,914
10, 184
3,652
3,656
3,667
3,549
3,533
2,741
2,739
3 252
3,793
3,725
3 015
2,444
15 049
13 569
11 821
r
GYPSUM AND PRODUCTS
Crude gypsum, quarterly total:
Imports
- thous. of short tons
Production
- do
Calcined, production, quarterly total.
do
Gypsum products sold or used, quarterly total:
Uncalcined
- -short tons..
Calcined:
For building uses:
Base-coat plasters
do
Keene's cement
do-- _
All other building plasters
-do
Lath
thous. of sq. ft
Tile
- - -do - _ Wallboardcf
do
Industrial plasters
short tons
444
1,863
1,718
822
1,887
1,798
1,190
2,108
1,867
608, 516
566, 785
601, 383
411,877
12, 963
168, 692
579, 491
4,730
926 229
66, 339
432, 369
13, 401
196, 988
593, 756
7,181
942 793
66, 893
473 536
12, 081
231,835
660, 025
7,301
T 908 056
59 866
TEXTILE PRODUCTS
CLOTHING
Hosiery, shipments
thous. of dozen pairs
Men's apparel, cuttings:* 1
Tailored garments:
Suits
thous. oi units Overcoats and topcoats
do
Trousers (separate), dress and sport
do
Shirts (woven fabrics) , dress and sport
thous. of doz._
Work clothing:
Shirts
_- - do _,
Pants
do
Women's, misses', juniors' outerwear, cuttings
(quarterly):*
C oats
thous . of units
Dresses
- - --do
Suits
do
Waists, blouses, and shirts
thous. of doz _
r
l
r
13, 724
14,356
12,862
11, 192
2,1 118
398
4, 926
1,984
338
4,713
2,037
5,087
i 2,1 220
521
1
5, 662
4,897
4,398
1
1,986
1, 869
1,942
i 2, 274
1,783
1,655
1
M49
!
454
394
419
440
450
U96
1
506
398
428
390
425
13,571
1
1
1
350
7,314
65, 028
5,439
3, 537
1,844
559
12 328
1,773
614
3,731
73, 107
2,546
2,874
11 964
1
14 085
14 929
1,285
1
456
3 370
1 713
652
1 511
562
3 725
1
3,829
1, 493
1, 462
1,590
1
419
411
394
393
J
357
M12
1
11 891
576
4 482
1, 805
i 414
i 435
r
r
r
1 566
r 347
3 682
1,491
336
329
1
1
1
12 675
1 834
i 285
3 855
1 791
248
4 548
1,526
1. 518
1
339
i 312
383
6 497
53 753
2,864
3. 100
Revised.
*> Preliminary.
Data cover a 5-week period.
t Revisions for 1952 are shown in the August 1953 SURVEY.
cf Includes laminated board, reported as component board.
IDataf or January, April, July, October, and December 1953
cover 5-week periods and for other months, 4 weeks.
*New series. Compiled by the 17. S. Department of Commerce, Bureau of the Census. Data are estimated industry totals derived as follows: Men's apparel—estimates are based on reports
from approximately 1,000 large manufacturers and include estimates for a number of small manufacturers whose cuttings in 1951 accounted for from 2 to 12 percent of the total output; women'*
outerwear—quarterly estimates are based on reports from 2,500 establishments (classified in the five principal women's outerwear industries, including the skirt industry) which accounted for
over 90 percent of the total shipments of these industries in 1951. Cuttings beginning 1950 will be shown later; data for 1952 are shown at bottom of p. S-38 of the December 1953 SURVEY.
SURVEY OF CURRENT BUSINESS
March 1954
Unless otherwise stated, statistics through
1952 and descriptive notes are shown in the
1953 Statistical Supplement to the Survey
S-39
1954
1953
January
February
March
April
May
June
July
August
September
1,166
5,547
October
November
December
10 788
14 323
15 151
January
TEXTILE PRODUCTS—Continued
COTTON
Cotton (exclusive of linters):
Production:
Ginnings§
thous of running bales
Crop estimate, equivalent 500-lb. bales
thous. of bales __
Consumption^ _ .
bales..
Stocks in the United States, end of month,
total^
thous. of bales ._
Domestic cotton, total
__
do..
On farms and in transit
do
Public storage and compresses _
do
Consuming establishments
do
Foreign cotton total
do
Exports
bales
Imports
do
Prices (farm), American upland
cents per lb_.
15
rf
Prices, wholesale, middling, /i6 , average, 10
markets
cents per Ib
Cotton linters:!
Consumption
thous of bales
Production
do
Stocks end of month
do
1
14, 708
349
14 952
1
766, 090
15, 137
769, 496
'r 11, 207 10, 203
10, 125
11, 133
' 2, 182
1,401
6,906
' 7, 255
r
1,819
1,r697
78
73
259, 47£
291, 829
27, 055
25, 322
30.2
29.8
4
902, 674
32.5
4
4
4
725, 849
702, 425
6,181
6,084
470
4,005
1,609
97
220, 226
11, 430
31.5
5,502
5,409
259
3,706
1,444
93
114,632
8,375
31.9
19, 289
19,204
14, 329
3,682
1,193
84
193, 304
9,130
32.8
33.4
33.2
33.4
748, 049
740, 864
9,201
9,117
858
6,366
1,892
84
246, 467
12, 495
31.5
8,119
8,025
719
5,491
1,817
94
208, 208
33, 122
31.5
7,129
7,031
621
4,691
1,719
97
260, 905
15, 938
31.7
32.9
33.2
33.0
110
174
137
152
4
4
4
742, 064
909, 240
4
18,837
18, 757
11,687
5,815
1,254
80
199, 809
20,209
33.1
18, 251
18 168
7,338
9 368
1.462
83
217 307
7,776
32.5
17, 745
17, 670
4,939
11, 186
1,545
75
242 848
8 510
31.8
16, 597
16 532
2,963
11 925
1,644
65
375 023
11 070
30.7
15,676
15,615
1,856
12,058
1,701
61
33.0
32.8
32.7
32 7
32 fi
33 2
122
172
111
240
4 in
113
222
1 428
123
66
1 097
1,063
1 050
987
121
60
986
51, 908
2,779
2,612
48, 672
6 295
55, 304
6,887
62, 247
6,311
2,610
57, 382
4,924
47, 359
4,399
34.40
40.7
18.3
17.1
33.92
40.7
19.3
17.0
32.52
38 8
18.6
17.0
32.01
38 8
18.4
16.9
31.98
38.8
18.4
17.3
32.82
38 2
18.5
18.0
32.56
38 2
18.3
18.0
.709
1.018
.702
1.018
.692
1.014
.690
1.002
.679
.995
21,680
20, 314
12, 282
501
4
11,
521
4
135. 7
21, 622
20, 277
10, 179
518
9,561
140.2
21, 575
20, 221
10, 251
513
9,635
139.5
21, 259
19, 926
12, 353
501
4
11. 608
4
136. 7
21, 377
20, 013
10, 133
507
9,489
138.6
21, 201
19, 824
9,938
497
9,330
136.1
77.0
24.1
71.0
18.4
80.8
21.9
78.3
24.1
81.5
26.6
64.0
18.8
5,513
62.9
16.5
6,260
61.1
17.2
10 892
60.3
22.9
11,351
57.9
26.1
6 069
.780
.366
.780
.366
.780
.366
.780
.366
1,079
54,833
3,647
757, 152
684, 990
131
83
103
49
4
4
4
1,081
124
247
1 177
1 297
221
1 376
45, 368
4,594
2, 418
54,903
6,267
47, 444
4 651
46, 093
7 193
2 540
49, 493
6 306
32.97
38 2
18.3
18.0
32.74
37.2
17.9
18.0
31 44
36 9
17 5
17.8
29 59
36 9
16 5
17 5
29 13
34 9
15 9
17 5
.655
.964
.643
* 955
.636
* 939
.630
T 6 927
4
16 140
3 16, 437
678, 827
872, 128
128
119
1,126
111
207
1,047
4
2
30.1
4
COTTON MANUFACTURES
Cotton cloth:
Cotton broad-woven goods over 12 inches in width,
production, quarterly o"
mil. of linear yards
Exports
thous. of sq. yd..
Imports
_
do
Prices, wholesale:
Mill margins
cents per Ib
Denim, 28-inch
cents per yd
Print cloth, 39-inch, 68 x 72 ...
.. .do
Sheeting, in gray, 40-inch, 48 x 44-48
do
Cotton yarn, natural stock, on cones or tubes:
Prices, wholesale, f. o. b. mill:
20/2, carded, weaving
dol. perlb..
36/2 combed, knitting
_
do
Spindle activity (cotton system spindles) :<J
Active spindles, last working day, total thous._
Consuming 100 percent cotton
__ do
Spindle hours operated, all fibers, total.mil. of hr_.
Average per working day
__do . _
Consuming 100 percent cotton
do.. ..
Operations as percent of capacity. _
4
4
r
.675
. 984
6
6
.670
.978
6
.660
.972
5
21,344
20, 007
10, 126
405
4
9, 484
4
110. 9
21, 391
20,063
9,857
493
9,279
134.8
21, 322
20, 039
9,582
491
9,044
133.9
21,244
19 953
11, 853
479
4
11, 192
4
130 6
21, 252
19 990
9,232
474
8,719
129 1
80.3
27.0
78.8
27.0
72 0
23.8
63 6
22 8
64 6
26 0
62 9
25 5
53 9
21 9
56.8
30. 1
7 241
59.6
32.9
7,557
65. 1
37 0
5 592
72.1
35 8
3 355
74 3
34 0
2 006
71 3
29 9
277
77 2
32 7
1 775
780
780
.336
.336
.780
.336
780
336
780
336
780
336
4
4
4
20, 933
19 695
10, 246
436
4
9, 683
4 iig g
28 56
34 9
16 0
17 3
.625
922
f
20,897
19 652
9,145
457
8,631
194 7
RAYON AND ACETATE AND MFRS.
Filament yarn and staple:
Shipments, domestic, producers':
Filament yarn
_ _
mil. of Ib
Staple (incl. tow)
:
do
Stocks, producers', end of month:
Filament yarn
do
Staple (incl. tow)
. _ _ do. .
Imports
thous. of Ib
Prices, wholesale:
Yarn, viscose, 150 denier, filament, f. o. b. shipping point
.
dol. per Ib
Staple, viscose, Hi denier^ ....
do_
Rayon and acetate broad-woven goods, production,
quarterly a*
_ thous. of linear yards
T
513, 367
510, 845
9
780
336
780
336
j,
7gQ
P 330
7 431 427
473 469
SILK
Silk, raw:
Imports
thous. of Ib
Price, wholesale, white, Japanese, 20/22 denier,
87% (A A), f. o. b. warehouse
dol. per lb._
901
585
640
573
666
593
698
812
643
695
414
52i
5.55
5.56
5.53
5.05
5.12
5.21
5.21
5.20
5.18
5.23
5.27
5.43
* -5. 58
34, 360
13, 690
40 933
21, 381
29, 564
12, 656
28, 487
18, 443
30, 000
12 812
31 569
17, 254
36, 490
14 320
29 791
19, 489
31, 396
9 736
25 093
14, 956
31, 272
10 308
21 994
15, 141
32, 225
4 7 770
30 622
13i 463
29, 876
10 556
19 169
10,780
27, 736
9 940
22 744
13, 267
4
29, 645
4 11 730
20 774
11,237
18, 968
8 992
16 322
8,094
4
20, 91 5
r 10 720
12 889
8,182
18, 544
9 012
1.752
1.194
1.748
1.199
1.725
1.189
1.725
1.174
1.725
1.200
1.725
1.200
1.725
1.204
1. 725
1.205
1.725
1.205
WOOL
Consumption, mill (clean basis) :1J
Apparel class
thous. of lb__
Carpet class
...
__
do
Imports, clean content
do
Apparel class (dutiable), clean content*
do
Prices, wholesale, raw, Boston:
Territory, 64s, 70s, 80s, clean basis
dol. per lb__
Bright fleece, 56s-58s, clean basis,.
do.. ..
Australian, 64s, 70s, good topmaking, clean basis,
in bond
_.dol. perlb..
4
4
1.725
1.225
1.725
1.225
6
6
4
4
1.737
1.201
1.722
1.185
6
6
6
4
6
6
6
6
6
6
6
1.725
1. 725
1. 775
1. 750
1. 775
1.778
1. 775
1. 780
1. 780
1.780
1. 780
1.779
1.775
2
3
4
1
Revised.
* Preliminary.
1 Total ginnings of 1952 crop.
Ginnings to Jan. 16.
December 1 estimate of 1953 crop.
Data cover a 5-week period,
Specifications changed;
6
7
quotations beginning June 1953 not comparable with earlier data.
Nominal price.
Data cover a 14-week period: other data are for 13 weeks.
§Total ginnings to end of month indicated.
f Data for January, April, July, October, and December 1953 cover 5-week periods and for other months, 4 weeks; stocks and number of active spindles are for end of period covered.
*New series. Imports of wool are compiled by the U. S. Department oj Commerce, Bureau of the Census; dutiable wool covers essentially the apparel class; data prior to April 1952 will be
shown later.
JRevisionsfor 1952 are shown in the August 1953 SURVEY.
cf Revisions for broad-woven goods for first and second quarters of 1952 are shown in the October 1953 SURVEY.
r
SUKVEY OF CURRENT BUSINESS
S-40
March 10">4
195 3
1952 and descriptive notes are shown in the
1953 Statistical Supplement to the Survey
January
February
March
April
May
1954
July
June
August
September
2.122
October
November
December
January
2.110
2.098
2. 098
P 2. 073
TEXTILE PRODUCTS—Continued
WOOL MANUFACTURES
Knitting yarn, worsted, 2/20s-50s/56s, Bradford system, wholesale price
dol. per lb._
Woolen and worsted woven goods, except woven
felts :}
Production, quarterly, total
thous. of lin. yd.•\_pparcl fabrics total
do
Government orders
do
Other than Government orders total do
Men'^ and boys'
do
Women's and children's
do
Nonapparel fabrics total
do
Blanketing
do
Other nonapparel fabrics
do
Prices, wholesale, suiting, f. o. b. mill:
Flannel, 12-13 oz./yd., 57"/6u"
1947-49 = 100-Gabardine, 10^-12 Vi oz./yd., 56"/58"--.do
2.122
2.110
2.122
2.134
2.146
85, 334
113.9
104.7
113.9
105.3
2.170
2.158
93, 123
79, 841
4,216
75, 625
39 694
35, 931
13, 282
7,739
5,543
72, 691
8,153
64, 538
33 118
31, 420
1 2, 643
6,818
5, 825
112.5
104. 7
2.170
113.9
105. 8
113.9
105.3
113.9
105. 3
r 84, 375
r
71 746
3. 655
r
68 091
r
29 404
38. 687
r
12. 629
72. 485
63 606
4 320
1 59 286
98 389
30 897
8 879
6 236
9
643
r 8. 133
4 496
113.9
105. 3
112.9
103. 6
112.9
103. 6
112.9
103. 6
112.9
103. 6
112.9
103. 6
112.9
103. 6
TRANSPORTATION EQUIPMENT
AIRCRAFT
365
107
382
82
358
81
402
112
417
119
339
104
402
154
350
138
359
92
235
146
275
137
250
105
278
565,172
254
218
453, 31 9
435, 129
111,599
97, 879
583, 001
190
189
486. 071
467, 440
96, 740
86,212
700, 685
236
189
566, 320
545, 961
134,329
122, 043
723, 532
145
141
596, 633
577, 971
126, 754
114,787
643, 487
367
339
549, 677
531, 544
93, 443
82, 433
661, 992
380
359
587, 549
570, 826
74, 063
66. 063
705, 132
376
368
599, 134
581,870
105,622
92, 788
615,382
447
407
513, 457
501 , 055
101,478
89, 911
573, 688
348
344
475, 289
465, 737
98, 051
86, 919
620, 562
519
496
528, 088
516, 257
91, 955
79, 541
452, 487
371
288
378, 406
369, 994
73, 710
64, 781
482, 920
424
393
387, 844
371 844
94 652
80, 224
549, 946
401
361
453, 378
433 876
96,167
83, 563
27,121
14,136
12,985
27, 938
15, 941
11,997
27, 257
15, 372
11,885
28, 675
16, 704
11.971
28.511
16,455
12,056
22, 661
14, 397
8,264
23, 564
13, 544
10, 020
24, 514
11,862
12, 652
22, 881
10, 455
12, 426
19, 823
8,951
10, 872
23, 557
10 040
13 517
21 578
10 884
10 694
do
do
do
do _
do
5 858
5, 635
2 588
3, 047
223
6 009
5. 723
2 586
3, 137
286
740
429
823
606
311
8 850
8, 5 If)
2, 990
5, 526
334
9 781
9. 454
3. 166
6 288
327
9 708
9. 351
2 778
6, 5/3
357
9, 285
S, 965
2, 526
6, 439
320
9 703
9, 498
2 629
6, 869
205
9 906
9. 708
2 281
7,427
198
8 366
8 194
2 608
5,586
172
7 867
7 673
2 538
5,135
194
do -.
do
386, 221
72, 606
396, 558
68, 616
486, 368
79, 672
528, 278
91,127
540, 575
86, 366
542, 193
77. 199
533, 783
76, 161
502, 430
76, 673
453,806
78, 319
504, 697
82, 661
number-do
do
do
do do
do ..
do
8, 103
6,094
5, 972
2,009
15
15
15
0
7,786
6,072
6,063
1,714
17
17
17
0
6,726
4, 958
4, 952
1, 768
39
39
39
0
6,
4,
4,
2,
968
768
737
200
37
37
37
0
7, 080
4,313
3. 959
27
27
27
0
7, 066
4,029
3. 574
3.037
26
26
26
0
7, 096
4, 823
4, 376
2, 273
37
37
37
0
6, 001
3,718
3, 574
2, 283
42
42
42
0
6, 666
4,305
3, 675
2,361
34
34
34
0
Association of American Railroads:
Freight cars (class I), end of month:§
Number owned
thousands _ .
Undergoing or awaiting classified repairs
thousands .-
1,759
1,762
1, 764
1,765
1,767
1, 767
1,769
1,771
88
5 0
66, 368
36, 550
29,818
89
5 1
63,711
34, 891
28, 820
89
5 0
59, 354
32, 732
26, 622
88
5 0
54, 333
30, 141
24, 192
89
5 0
50,717
29, 351
21, 366
91
5 2
45. 804
26, 880
18, 924
92
5.2
40,119
22, 908
17,211
92
5 2
40, 224
21,497
18, 727
1,851
12.0
1, 835
12. 1
1,784
12.1
1, 656
11.5
1,547
11.1
1,437
10 6
1,315
10.0
948
14
1,057
12
843
10
861
8
675
564
6
38
40
47
40
45
704
669
35
779
743
36
832
794
38
732
690
42
677
640
37
Civil aircraft, shipments
Exports 9
_ _ _ . .numberdo
MOTOR VEHICLES
Factory sales, total
Coaches, total _
_
Domestic
Passenger cars, total
Domestic
Trucks total
Domestic
_ _.
__
Exports, total 9
Passenger cars 9
Trucks and busse^ 9
_. number.
...do
- do
do
do
do
-- do
.-
•
--
Truck trailers production total
Complete trailers cf
Vans
All other d"
Trailer chassis
Registrations:
New passenger cars
New commercial cars
do
do
do
-
_
6
6,
2,
3,
616
219
316
903
397
4 724
4 585
1 899
2 686
139
450 311
72 596
413 937
68 659
340 788
60 706
8,963
5, 636
5,631
3,327
46
46
42
0
6,574
4 173
3 912
2,401
44
44
44
0
4, 752
3 169
9 873
1, 583
27
°6
0
5, 101
3 815
3 658
1. 286
29
29
17
0
1,772
1,775
1,777
1, 776
1,777
94
5 3
37, 554
20, 651
16, 903
90
5 1
33, 159
15, 405
17, 754
92
5 2
30, 703
13,911
16 792
88
4 9
27, 678
12. 256
15 4"
91
5 1
23, 537
9,153
14 384
1,336
10 4
1, 216
9 7
1,223
10 0
1,222
10 2
1.232
10 5
1,215
10 6
511
5
405
4
545
3
628
2
659
1
571
0
486
0
39
61
46
48
37
63
46
945
902
43
673
591
82
626
576
50
797
735
62
877
845
39
677
632
45
673
630
43
5
5
2
2,
RAILWAY EQUIPMENT
American Railway Car Institute:
Shipments:
Freight cars, total
Equipment manufacturers, total
Domestic
_
Railroad shops, domestic
Passenger cars, total
Equipment manufacturers, total
Domestic
- -._
Railroad shops, domestic
Orders, unfilled
number. .
Equipment manufacturers
do
Railroad shops _ _ _ _ _
do ..
Locomotives (class I), end of month:
Steam, undergoing or awaiting classified repairs
number. Percent of total on line
Orders, unfilled:
Diesel-electric and electric locomotives, total
number of power units..
Steam locomotives, total
number-Exports of locomotives, total .
_ . __ do .-
INDUSTRIAL ELECTRIC TRUCKS AND
TRACTORS
Shipments, total
Domestic
Export
number _ _
do
do
523
jor;
oq
r
Revised.
» Preliminary.
tRevisions for 1952 are shown in the August 1953 SURVEY.
9 Data exclude all military-type exports.
^Revised beginning 1952 to include production of converter dollies; data as revised are comparable with figures through 1951 shown in the 1953 issue of BUSINESS STATISTICS. Revisions
for January-September 1952 are shown in the December 1953 SURVEY.
§ Not including railroad-owned private refrigerator cars.
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 : 1 9 5 4
'INDEX TO MONTHLY BUSINESS STATISTICS, Pages S1-S40Pages marked S
Abrasive paper and cloth (coated)
38
Acids
24
Advertising
,__
7, 8
Agricultural employment
.
.
10
Agricultural loans and foreign trade
_ _ 15, 21, 22
Aircraft
.
— - 2,11,12,13,14,40
Airline operations
.
22
Alcohol, denatured and ethyl_ -—. _ .
24
Alcoholic beverages
.
2, 6, 8, 27
Aluminum
33
Animal fats, greases, and oils
25
Anthracite
—
11, 13, 14, 15, 34
Apparel, wearing-.. 2, 3,4, 5, 6, 8, 9,11,12,14, 15, 38
Asphalt and asphalt products
36
Automobiles
2, 3, 8, 9, 11, 12, 13, 14,16, 18, 21, 40
Bakery products
—- 2,11,12,13
Balance of payments
.
20
Banking
_
15, 16
Barley
_
28
Barrels and drums
32
Battery shipments
34
Beef and veal
---29
Beverages
— 2, 3, 4, 6, 8, 11, 12, 14, 27
Bituminous coal
11, 13, 14, 15, 34, 35
Blast furnaces, steel works, etc
11, 12, 13, 14
Blowers and fans.—
34
Bonds, issues, prices, sales, yields..
_.._
19
Book publication.
37
Brass
33
Brick__-_-38
Brokers' loans and balances
. - - 16,19
Building costs
7
Building and construction materials
7,8,9
Business sales and inventories _,
.
3
Businesses operating and business turnover
4
Butter
—
27
Cans (metal), closures, crowns
.
_____
33
Carloadings
.
23
Cattle and calves
.29
Cement and concrete products
6, 38
Cereals and bakery products.
5,11,12,14
Chain-store sales (11 stores and over only)
9
Cheese
—
27
Chemicals
2, 3, 4, 5, 11,12, 14, 15,18, 21, 24
Cigars and cigarettes6,30
Civilian employees, Federal
. _.
12
Clay products (see also Stone, clay, etc)
2, 6, 38
Clothing (see also Apparel)
5, 38
Coal
2,3,11,13,14,15,21,23,34,35
Cocoa
22, 29
Coffee
22, 29
Coke
23,35
Commercial and industrial failures
4
Communications
11,13,14,15,18, 19, 20, 23
Confectionery, sales--....-.
~
29
Construction:
Contracts awarded
...
6
Costs
._
--_
7
Dwelling units
. .--_7
Employment, earnings, hours, wage rates.11,
12,13,14,15
Highway
—— 6, 7,12
New construction, dollar value— _.
6
Consumer credit-16
Consumer expenditures
.
.
1,8
Consumer price index
5
Copper__
22,33
Copra and coconut oil
..
_-_
25
Corn
--- 19, 28
Cost-of-living index (see Consumer price
index)
5
Cotton, raw and manufactures _,
2, 5, 6, 21, 39
Cottonseed, cake and meal, oil
25
Credit, short- and intermediate-term . _ _.
16
Crops
2, 5, 25, 27, 28, 30, 39
Crude oil and natural gas.
_
2,3
Currency in circulation,
18
Dairy products
.
5,11, 12, 14, 27
Debits, bank-___
_
15
Debt, United States Government
17
Department stores
9,10,16
Deposits, bank
..
15,16, 18
Disputes, industrial
13
Distilled spirits
___
_27
Dividend payments and rates
.
1, 18, 20
Drug-store sales
.
8, 9
Dwelling units
7
Earnings, weekly and hourly
.
13,14,15
Eggs and poultry
2, 5, 29
Electric power
5, 26
Electrical machinery and equipment
2,
3, 4, 5, 8, 11,12,13,14,18, 21, 34
Employment estimates and indexes
10,11, 12
Employment Service activities
,_
13
Emigration and immigration
.
23
Engineering construction
,
„__
6
Expenditures, United States Government
16
Explosives
25
Exports (see also individual commodities)
20, 21
Express operations
22
Failures, industrial and commercial . .
4
Farm income, marketings, and prices
2, 5
Farm wages
—
15
Fats and oils, greases
...
_ 5, 25, 26
Federal Government
finance
16, 17
Federal Reserve banks, condition of
„__
15
Federal Reserve reporting member banks.
16
Fertilizers
___,
5, 24
Fiber products
.__
34
Fire losses
.
7
Fish oils and
fish
.
25, 29
Flaxseed- — _
25
Flooring
31,32
Flour, wheat
28
Pages marked S
2,
3, 4, 5, 8, 9, 11, 12, 14, 18, 27, 28, 29, 30
Foreclosures, real estate
.
7
Foreign trade indexes, shipping weight, value
by regions, countries, economic classes, and
commodity groups
______
21, 22
Foundry equipment
34
Freight carloadings
23
Freight cars (equipment)
40
Freight-car surplus and shortage
„_,
,
23
Fruits and vegetables
. _ _ _ . 5, 21, 27
Fuel oil
35
Fuels
„
.__ 5,34,35
Furs
—
...
22
Furnaces
._ .
34
Furniture
2, 3, 5, 8, 9, 11, 12, 13, 14, 16
Gas, prices, customers, sales, revenues.
5, 26
Gasoline
_
8, 9,36
Glass products (see also Stone, clay, etc.)..
2, 38
Generators and motors.,
.__
34
Glycerin
24
Gold
18
Grains and products—
5, 19, 21, 23, 28
Grocery stores
......
9
Gross national product
.
1
Gypsum and products...
6,38
Heating apparatus
... 6, 11, 12, 13, 14,33,34
Hides and skins
5, 22, 30
Highways and roads
.
6, 7,12,15
Hogs____
.
... 29
Home Loan banks, loans outstanding
,
7
Home mortgages.-.
,.
7
Hosiery.
38
Hotels
.....
.... 11,13,14,15, 23
Hours of work per week
—.
__ 12, 13
Housefurnishings .
.
5, 8, 9
Household appliances and radios
5, 8, 9, 34
Immigration and emigration
.
.—
23
Imports (see also individual commodities). 20, 21, 22
Income, personal
„
1
Income-tax receipts
,
...
16
Incorporations, business, new
,
.
4
Industrial production indexes
2,3
Instalment credit
._
16
Instalment sales, department stores
10
Instruments and related products
2, 11,12, 13, 14
Insulating materials...
.. _.
34
Insurance, life.
.
17
Interest and money rates
16
International transactions of the U. S
20, 21, 22
Inventories, manufacturers' and trade
3,4, 9, 10
Iron and steel, crude and manufactures
2,
6, 18, 21,32,33
Kerosene.
35
Labor disputes, turnover
13
Labor force
10
Lamb and mutton ...
29
Lard
...
29
Lead
33
Leather and products—__ 2, 3,4, 5,12,14,15, 30,31
Linseed oil
—
25
Livestock
._
_.
2, 5, 23,29
Loans, real estate, agricultural, bank, brokers'
(see also Consumer Credit)
7,15,16, 17,19
Locomotives ,
40
Lubricants
.
.
35
Lumber and products
_
2,
3, 5, 8, 9,11,12,13,14,18, 31,32
Machine activity, cotton___
39
Machine tools
34
Machinery-. — — 2, 3,4, 5,11,12,13,14,18, 21,34
Magazine advertising
,
8
Mail-order houses, sales
...
_ 9,10
Manufacturers' sales, inventories, orders. _ _ _ _
3,4
Manufacturing production indexes
2,3
Manufacturing production workers, employment, payrolls, hours, wages
11, 12, 13, 14,15
Meats and meat packing
2, 5, 11, 12, 14, 29
Medical and personal care
.
5
Metals— ..
2, 3, 4, 6, 11,12,13, 14, 15, 18,32,33
Methanol
24
Milk
27
Minerals and mining
2,3,11,13,14, 15,20
Monetary statistics
18
Money orders
.
,__
8
Money supply
18
Mortgage loans
.—._ 7, 15, 16,17
22
Motor carriers
Motor fuel
36
Motor vehicles
3, 5, 8, 9, 18,40
Motors, electrical
,
34
National income and product
„__.
1
National parks, visitors
23
Newspaper advertising8
Newsprint
__
22,37
New York Stock Exchange, selected data
19,20
Nonferrous metals
2, 6, 11,12, 13, 14, 18, 22,33
Noninstalment credit
.
16
Oats
28
Oil burners
—....
_ —
33
Oils and fats, greases
,__ 5, 25,26
Oleomargarine
26
Operating businesses and business turnover _ _
4
Orders, new and unfilled, manufacturers'
4
Paint and paint materials
_ 5,26
Panama Canal traffic
.
23
Paper and pulp
2, 4, 6,11,12,14,15, 22, 36,37
Paper and products
.
3,4,6,11,12,14,15,18, 36,37
Passports issued
.
23
Payrolls, indexes
.
12
Personal consumption expenditures
—_
1,8
Personal income
1
Food products
Pages marked S
Personal saving and disposable income
Petroleum and products..
2,
3, 4, 5,11, 12, 13, 14,15, 18, 21, 22, 35, 36
Pig iron
32
Plant and equipment expenditures
1
Plastics and resin materials
,
26
Plywood
31
Population
10
Pork
29
Postal savings
16
Poultry and eggs
2, 5, 29
Prices (see also individual commodities):
Consumer price index
5
Received and paid by farmers
5
Retail price indexes
5
Wholesale price indexes
5, 6
Printing and publishing
2, 3, 4,11,12,14,15, 37
Profits, corporation
1, 18
Public utilities... 1, 6,11,13,14,15,17,18,19, 20, 26
Pullman Company
.
23
Pulpwood
36
Pumps
.
„
34
Purchasing power of the dollar6
Radio and television
.
5, 7, 8, 34
Railroads, employment, wages, financial statistics, operations, equipment
11,
12, 13, 14, 15, 17, 18, 19, 20, 22, 23, 40
Railways (local) and bus lines
11, 13,14,15
Rayon and rayon manufactures
39
Real estate__-__
_.
7,16,17,19
Receipts, United States Government
16
Recreation
.
,
5
Refrigerators, electrical
.
34
Rents (housing), index
5
Retail trade, all retail stores, chain stores (11
stores and over only), general merchandise,
department stores
. 3, 4, 8, 9, 10,11,13,14, 15
Rice
,___
28
Roofing and siding, asphalt
36
Rosin and turpentine
.
24
Rubber, natural, synthetic, and reclaimed
tires and tubes
„
6,22,37
Rubber products industry, production index,
sales, inventories, employment, payrolls,
hours, earnings
2, 3, 4, 12, 14, 15
Rural sales
....
10
Rye
28
Saving, personal
1
Savings deposits
16
Securities issued
18, 19
Services
4, 5, 8,11,13,14,15
Sewer pipe, clay
.
38
Sheep and lambs
29
Ship and boat building—
11, 12, 13, 14
Shoes and other footwear
8, 9, 12, 14, 15, 31
Shortening
26
Silk, imports, prices...
6,39
Silver...
18
Soybeans and soybean oil
25
Spindle activity, cotton
,
39
Steel ingots and steel manufactures (see also
Iron and steel)
... 2,32,33
Steel scrap
32
Stocks, department stores (see also Inventories)
.
10
Stocks, dividends, listings, prices, sales, yields.
20
Stone and earth minerals
2,3
Stone, clay, and glass products
2,
3,11,12,13,14,18,38
Stoves...
34
Sugar
_
...
22,30
Sulfur.
25
Sulfuric acid
,
24
Superphosphate
. 24
Tea
30
Telephone, telegraph, cable, and radio-telegraph carriers-—
11, 13, 14, 15, 18, 19, 20, 23
Television
7, 34
Textiles
2, 3, 4, 6, 11, 12, 14, 15, 18, 21, 38, 39, 40
Tile___ —
38
Tin
.
22,33
Tires and inner tubes
6, 12,14, 15,37
Tobacco
2,3,4,5,6,8, 11, 12, 14, 15, 21,30
Tools, machine
34
Tractors
34
Trade, retail and wholesale. 3, 4, 8, 9, 10, 11, 13, 14, 15
Transit lines, local
22
Transportation, commodity and passenger. 5, 22, 23
Transportation equipment
2,
3,4,11,12,13,14,18,40
Travel
23
Truck trailers
40
Trucks
40
Turpentine and rosin
24
Unemployment and compensation
10, 13
United States Government bonds
16, 17, 18, 19
United States Government
finance
16,17
Utilities
1, 5, 6,11,13,14, 15,17,18, 19, 20, 26
Vacuum cleaners
34
Variety stores
9
Vegetable oils
25, 26
Vegetables and fruits..
2, 5, 21, 27
Vessels cleared in foreign trade
23
Veterans' unemployment allowances
13
Wages, factory and miscellaneous
13,14, 15
Washers
34
Water heaters.
34
Wax
36
Wheat and wheat
flour
19, 28
Wholesale price indexes
5, 6
Wholesale trade
3, 4, 10,11,13,14,15
Wood pulp
.
36
Wool and wool manufactures
6, 22, 39, 40
Zinc.
.
. 33
UNITED STATES
GOVERNMENT PRINTING OFFICE
DIVISION OF PUBLIC DOCUMENTS
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A Baste Handbook for Businessmen
B U S I N E S S STATISTICS
'The 1953 Statistical Supplementto the Survey of Current Business
Business
Statistics
1953 Edition
THE NEW VOLUME contains com
prehensive descriptions and explanations of all statistical data covered in its
tables and in the monthly Survey of Curren Business, furnishing the reader with
the information essential to the proper
us of the data. Definitions of the statistical units employed, methods of collec-
BUSINESS STATISTICS, 1953 edi-
ion of data, adequacy of samples, and
names and addresses of the original com-
tion, will hereafter be the basebook to
which the 2,600 series regularly carried
in the 40-page Monthly Business Statis-
pilers are among the information in-
tics section of the Survey of Current Bus-
cluded. In addition, the notes direct the
mess will be keyed. For each of these
Deader to previous publications provid-
series it provides monthly data from
ing monthly data prior to 1949, and call
January 1949 through December 1952,
attention to any changes in the series
and annual averages of monthly data
which might affect comparability.
from 1935 through 1952.
UNITED STATES DEPARTMENT OF COMMERCE
OFFICE OF BUSINESS ECONOMICS
$1.50 per copy, BUSINESS STATISTICS is now available from the nearest Department of
Commerce field office or from the Superintendent of Documents, U. S. Government Printing Office,
Washington 25, D. C.
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