Full text of Survey of Current Business : March 1965
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MARCH f 065 / VOLUME 45 NUMBER
OF
U.S* Department -of Commerce
-
-
CONTENTS
John T* Connor / Secretary
THE BUSINESS SITUATION
Summary
1
Manufacturers' Sales and Inventory Expectations—
First Half 1965
3
Office of Business Economies
George Jaszi / Director
Morris H« Goldman
jLouis J« Paradiso
Associate Directors
ARTICLES
Business Investment and Sales Programs for 1965
5
Thte U.S. Balance of Payments in 1964
10
The Relationship Between New Orders and Shipments?
An Analysis of the Machinery and
Equipment Industries
24
Mtarray F. Foss / Editor
Leo V* Barry, Jr. / Statistics Editor
Billy Jo Hurley /
STAFF CONTEIBUTORS TO THIS ISSUE
Business Review and Features:
David R« Hull, Jr/
Marie P« Hertsgfoerg
MONTHLY BUSINESS STATISTICS
General
S1-S24
Industry
S24-S40
Stibjeet Index (Inside Back Cover)
Articles: '
•
Gene^ieve B* WimsBtt and Staff
Evelyn M. Parrislx
Max Leclbter
Joel
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the BUSINESS SITUATION
Busi
3INESS activity moved strongly
upward during February as personal
income and payrolls, nonfarm employment, industrial production, and retail
sales reached record levels. The advance is continuing, and it is quite clear
that the first quarter will show an
unusually large increase in GNP and
final sales over the fourth quarter of
1964, with substantially higher auto
production and sales the dominant
factor in the advance.
Activity is being reinforced by a rising
rate of investment in new plant and
equipment. According to the OBESEC annual survey, reported in detail
on pages 5-9, businessmen expect to
increase their capital outlays throughout 1965. Business anticipates that
for the year as a whole, plant and equipment investment will approximate $50
billion, a 12 percent or $5# billion
increase over 1964.
After declining in successive quarters
of 1964, outlays for private nonfarm
residential construction have shown
some signs of improvement so far this
year. Expenditures in January and
February averaged about $1 billion or
4 percent above the fourth quarter 1964
rate, and were at the best level in almost
a year. The increase in the dollar volume of construction activity reflects a
pickup in housing starts in the fourth
quarter. In addition, permits in the
past few months have averaged very
close to the rate for the full year 1964.
The inventory buildup in steel is
continuing, though at a slower pace.
Additions to steel stocks during January (without seasonal adjustment) totaled 700,000 tons, as compared with an
average monthly gain of 1.1 million
tons in the final quarter of 1964.
Metal fabricating plants were responsible for the entire January increase;
stocks held by producing mills and steel
service centers, which had been rising
for several months, were unchanged.
According to the latest anticipations
CHART
Domestic Business Investment
Plant and equipment expected to rise through
1965
Billion $
EQUlPMENt EXPENDITURES ••'-':' "^"
- ' - ' • """
'-•-•-••
50 v
40 ?f
30 ;'.
/ »'
,
20
-o.;
':
! x.
10 ;'
1961
62
63
64 65*
1964
1965*
Quarterly, Seasonally Adjusted
at Annual Rates
First quarter residential construction shows
some improvement
40
20
10
Manufacturers expect further accumulation of
stocks in the first half, but at a slower rate
survey, manufacturers as a group expect
total inventories (seasonally adjusted)
to increase in the first and second
quarters of 1965 by $0.7 billion and
$0.9 billion, respectively. In the fourth
quarter of 1964 manufacturers added
almost $2 billion to their inventory
holdings. Following a fourth quarter
decline, trade inventories (seasonally
adjusted) are likely to increase in the
current quarter, with a rebuilding of
auto dealers' stocks a significant factor
in the rise.
Payrolls higher
Total personal income in February
rose to a seasonally adjusted annual
rate of $510.7 billion, a rather small
increase of $K billion from January.
The January total was unusually high
because of the accelerated payment of
the GI insurance dividend. If this is
excluded from the comparison, the
February increase was $2.4 billion,
about the same as the average monthly
increase from September to January.
Wage and salary payments accounted
for almost all of the February gain
exclusive of transfer payments; small
increases in non-wage income were offset by a further drop in farm proprietors' income. The payroll advance was
fairly general by industry: manufacturing was up $0.8 billion, nonmanufacturing by $1 billion and government
(State and local), by $0.3 billion.
Employment up sharply
1961
*Anticipated
1964
**Based on 2 months
U.S.
1965*
Quarterly, Seasonally Adjusted
at Annual Rates
Department of Commerce, Office of Business Economics
Data: QBE & SEC
65-3-1
These payroll increases in turn reflected in large part a step-up in
employment. Seasonally adjusted employment in nonfarm establishments
increased by more than 230,000 persons
over the month, and was 1.1 million
above the pre-strike level of last September. All major industry divisions
1
SURVEY OF CURRENT BUSINESS
except nondurable goods manufactur- last year. Production workers in priing reported an expansion in the number mary metals industries worked an
of employees during February. The average of 42% hours per week last
most pronounced gains were in retail month, even more than in the fourth
trade, transportation, and durable quarter and about 1 hour longer than a
goods manufacturing—particularly the year earlier.
machinery and equipment industries.
The sizable gains in employment Retail sales at peak
since early last fall have apparently
With consumer incomes rising, retail
not diminished the necessity for an ex- store sales continued buoyant in Febtended workweek. Last month the ruary. The advance figures for the
average workweek for manufacturing month showed further improvement
production workers remained at 41.4 , over the January peak. It now appears
hours (seasonally adjusted) and was jfehat first quarter expenditures for con0.7 hours higher than February 1964. sumer goods and services will show one
Heavy overtime work has been an im- of the largest quarterly increases of the
portant factor in the recent peak rates entire postwar period.
of automobile and steel production.
Demand for new cars remains exIn transportation equipment industries, ceedingly strong. Automobile dealers
the workweek has stretched to 43.8 delivered nearly 685,000 domestically
hours, more than 1 full hour above the produced new cars in February, a
workweek of last August and Septem- seasonally adjusted annual rate of
ber, when auto producers were rushing about 9% million units. This was little
the 1965 new models to dealers, and different from January and about 1
almost 2 hours greater than at this time million above December. February
sales showed a further emphasis on
top-of-the-line models and sports compacts, and a continued decline in
CHART 2
economy compacts.
Industrial Production
Retailers of household durables also
Index, 1957-59 = 100
reported a sustained high level of con180 , =,
;,
sumer spending in February, and at
nondurable goods outlets volume
170
reached another new peak.
Prices not much changed
150
140
130
>;>;•;, -r-
120 ,./",'
1961
1962
1963
1964
1965
Monthly, Seasonally Adjusted
U.S. Department of Commerce, Office of Business Economics
Data:FRB
65-3-2
Price behavior so far this year has
continued the pattern evident through
most of the current expansion: not
much change in wholesale markets and
a slight upward drift in consumer
markets.
Wholesale industrial
commodity
prices were about unchanged in
February. Steel scrap prices eased
somewhat despite the high level of steel
demand, and there were reductions in
quotations for selected chemicals.
Lumber and plywood prices fell back
from the high levels reached early in
the year, when prices were pushed up
sharply in the wake of floods in the
Pacific northwest. On the other hand
February witnessed increases by most
major aluminum producers on sheet
products, and increases in selected
grades of printing paper.
March 1965
In January, the Consumer Price Index inched ahead by another 0.1 percent
to 108.9 percent of the 1957-59 average,
as higher costs for services and nonfood
commodities offset a decline in food
prices.
Nonfood commodity prices usually
decline, on balance, from December to
January, but they failed to do so this
year. In the face of strong consumer
demand, new car prices have been
maintained close to levels prevailing at
introduction dates, and used car prices
are at a record high. Price tags on
furniture, appliances, and other household durables have shown little change
in recent months. Apparel markdowns
in January were not as pronounced as
usual.
Monetary developments
Monetary policy appears to have become somewhat more restrictive since
late January, following the marked
deterioration in the balance of payments picture in the fourth quarter.
Member bank free reserves in February
and early March were not far from
zero, well under the average level of
roughly $100 million of the 2 previous
months.
Money market rates have shown a
firming tendency. After the discount
rate increase in late November, yields
on short- and intermediate-term securities experienced a runup before
yearend, and then steadied for a short
time. In February the uptrend apparently was resumed. Rates on prime
commercial paper, which had shown no
change from the end of the year through
mid-February, increased somewhat in
the final week of the month and edged
up a little in early March. Market
yields on 3-month Treasury bills, which
advanced sharply in December and
leveled out in January, rose further in
February and remained relatively high
through mid-March. Rates on 3- to
5-year issues have been moving upward
since mid-January, but yields on longterm corporate and government bonds
have not changed much since last fall.
Fourth quarter corporate profits
Corporate earnings totaled $56% billion (seasonally adjusted annual rate)
(Continued on page 9)
SURVEY OF CURRENT BUSINESS
March 1965
Manufacturers' Sales and Inventory Expectations-First Half 1965
MANUFACTURERS expect sales to
rise by 4 percent from the fourth
quarter of 1964 to the first quarter of
this year, to a record seasonally adjusted rate of more than $118 billion.
Sales are then expected to fall 1 percent
in the second quarter. These projections were reported in February by
manufacturers cooperating in the quarterly inventory and sales expectations
survey. The larger-than-average first
quarter sales gain and the second
quarter decline reflect to a large
extent developments in the durable
goods industries, particularly in motor
vehicles and steel. Nondurable goods
sales are expected to rise moderately in each quarter, after seasonal
allowances.
Inventory additions of $700 million
CHART 3
Manufacturers' Inventory and Sales Expectations
• Inventories up in first and second quarters
• Durable goods sales rise sharply in first quarter, off in second
Index, 1st Qtr. 1961 —100
uo
Index, 1st Qtr. 1961 =100
' DURABLE GOODS MFRS;
NONDURABLE GOODS IFRS.,
, , - . - - ' -•;-.
140
130
130
,SALESC
120
120
no
110
INVENTORIES;;
in the first quarter and $900 million in
the second quarter, seasonally adjusted,
are expected to raise inventories to
$64% billion by midyear. These rates
of accumulation are well below the
$1.9 billion in the fourth quarter of
1964, but are greater than the increases in the earlier quarters of last
year. According to present reports,
the quarterly rate of accumulation by
metal fabricators in the first half of
1965 will be less than it was in the
fourth quarter of 1964, when steel
stockpiling began on a large scale.
If current expectations materialize,
the stock-sales ratio will decrease in
the first quarter, continuing the decline
which has characterized the current
business expansion, but will rise in the
second quarter. Mid-1964 inventories
would be equivalent to 1% months of
shipments, slightly higher than in
the two middle quarters of 1964 and
about equal to the year end ratio.
With shipments at an all time high
and the backlog of unfilled orders the
largest since 1957, manufacturers generally were satisfied with their inventory
position. Companies holding 84 percent of total stocks classified their
inventories on December 31, 1964 as
"about right." Firms holding 13 percent of producers' stocks categorized
their stocks as "high," about the
lowest ratio for this classification reported since late 1961; the "low"
proportion has remained relatively insignificant at about 3 percent.
; 100
Durable goods firms expect first
quarter sales peak
90
i
i I I ' i •. ( i I M ' i .1 -I A ,'\ V ' l - f [- -\. .
" ,\ 'i...'\- -1 - \ " . i-.s'.'-l
\ -i , V / i ;i,Vf Ji 1 ; 'i t ; )
90
Only small proportion of inventories considered "high" at end of 1964
Percent of total inventories (book value)
30
,
-,
,
- -
,
,
•
"
;
Percent of total inventories (book value)
,
" :-/.-'."••. : ; ' " . • ' • •
NONDURABLE GOODS
DURABLE GOODS MFRS. '-,'•' /
.
' •; '
• • • •:•' - , - •
.- 30
20
1961
62
• Expectations
64
65
Note.—Sales, quarterly total; inventories, end of quarter.
U.S. Department of Commerce, Office of Business Economics
1961
Quarterly, Seasonally Adjusted
63
64
65
Durable goods producers expect sales
to rise 7 percent from the fourth
quarter to the first quarter of this year,
after seasonal adjustment, and then to
decline 3 percent in the second quarter.
The projected rise in the first quarter
is the largest in the present expansion
which began in 1961, and is traceable
mainly to the aftermath of the October
and November automobile strikes.
After a 10 percent sales decline in the
fourth quarter, motor vehicle producers
are now projecting a first quarter sales
improvement of more than one-third.
They are attempting to make up for
SURVEY OF CURRENT BUSINESS
deferred retail deliveries and depleted
dealer inventories at a time when demand for autos and trucks—aside
from the present temporary stimulusis at record rates. In January and
February dealers' sales of domestically
produced new cars were at a seasonally
adjusted annual rate of close to 9%
million. The projected second quarter
sales decline for durable goods manufacturers is due largely to expected
cutbacks in steel and automotive
shipments.
For the full year 1965, durable goods
manufacturers who cooperate in the
OBE-SEC plant and equipment survey
are projecting a 6% percent rise in sales.
While the two surveys differ somewhat
with respect to reporting companies
and other technical considerations, a
comparison of all the expectations data
suggests that sales in the second half
of the year will be only slightly above
the second quarter rate.
Durable goods manufacturers expect
to add $400 million to their inventories
in the first quarter and $500 million in
the second quarter. This accumulation
rate matches that of the two middle
quarters' of 1964, but falls far short of
the $1.4 billion rise in the final quarter.
External data indicate that roughly
one-third of the fourth quarter accumulation reflected stocking of steel,
March 1965
chiefly in anticipation of a possible
steel strike later this year.
the second quarter are currently planned.
Inventories in the hands of soft goods
producers are expected to exceed $25
Nondurable goods producers9 sales billion for the first time by midyear.
and inventories expected to
Nondurable goods manufacturers'
expand
sales rose throughout 1964. By SepNondurable goods producers are pro- tember the stock-sales ratio had fallen
jecting a 1 percent sales gain in both the to the equivalent of \% months of
first and second quarters of 1965, which shipments, and historic low which
would bring their sales volume to about persisted through the end of 1964.
$56X billion in the second quarter, The anticipated inventory additions
after seasonal adjustment. These ex- in the first half of 1965 are in line with
pected advances mark a slowdown from the expected sales gains, so that the
the rate of increase in 1964, when sales stock-sales ratio shows little change
rose 2 percent per quarter, but they from September 1964 to June 1965.
equal the 1963 experience and exceed Inventory condition on December 31,
that of 1962. Most component in1964
dustries expect sales to rise in the first
Durable goods manufacturers holdhalf of 1965 over the final half of 1964.
ing 15 percent of stocks in hard goods
Furthermore, the 6 percent sales gain
industries classified their yearend inanticipated for 1965 by the panel of
ventories as "high." The ratio was
firms submitting annual sales expectaunchanged from September 30, but
tions in the plant and equipment survey
was 2 percentage points lower than
suggests continued sales increases for
March 1964, and also fell below the
nondurable goods producers during the
17-18 percent average of 1962 and
second half of this year, at about 1% per1963.
More than four-fifths of durable
cent per quarter.
goods manufactures continued in the
Inventory book values of nondurable
(Continued on page 23)
goods producers, which had shown
little change in the first 9 months of Table 2.—Manufacturers' Evaluation of the
1964, rose $% billion, seasonally adCondition of Their Inventories l
[Percent distribution]
justed, in the fourth quarter of 1964.
Further additions of $300 million in
Durables Nondurables
Total
the first quarter and $400 million in
§
W
1959
Mar. 31_ „ _
June 30
Table 1.—Manufacturers' Inventories and Sales: Actual and Anticipated
[Billions of dollars]
1962
I
II
III
1963
IV
I
II
III
1965
5
1964
IV
I
II
III
IV
Ii
III
II *
Inventories, end of quarter
56.3
33 7
22 6
56.6
34 1
22 5
57.1
34 0
23 1
57.4
33 9
23 5
58.4
34 9
23 5
59.0
35 5
23 5
58.8
35 4
23 5
59.7
35 6
24 2
60.7
36 4
24 3
60.7
36 8
23 9
60.7
36 9
23 8
62.6
38 0
24 6
64.0
39 1
24 9
All manufacturing
Durables
Nondurables
56.0
33 4
22 6
56.7
33 8
22 9
57.3
34 1
23 2
57.8
34 3
23 4
58.1
34 6
23 5
58 7
35 2
23 6
59.1
35 5
23 6
60.1
36 0
24 1
60 3
36 1
24 2
60 4
36 5
23 9
61.0
37 0
24 0
62.9
38 4
24 5
63.6
38 8
24 8
64 5
39 3
Sales, total for quarter
26 2
25 2
-
Unadjusted
All manufacturing
Durables __
__
Nondurables
98 8 102 5
51 1 54 3
47 7 48 2
97 8 100 6 101 0 107 0 102 5 106 8 108 0 114 2 109 6 113 7 117 5
49 1 51 7 51 9 57 0 52 2 55 8 56 3 60 6 55 4 58 6 62 0
48 7 49 0 49 1 50 0 50 4 51 0 51 7 53 6 54 3 55 2 55 5
120
120. 7
64 2
64.2
56 5
Seasonally adjusted
All manufacturing
Durables
Nondurables
_
99 6 100 2 100 0
51 7 51 8 51 5
47.9 48.3 48.5
99 9 101 9 104 4 105 0 106 2 109 1 111 1 112 4 113 6 118 3
51 1 52 6 54 2 54 8 55 3 57 1 57 5 58 3 58 5 62 5
48 7 49 3 50 1 50 2 50 9 52 1 53 6 54 1 55 2 55 8
117
117. 2
60 8
60.8
56.4
56 4
—
encies
1. Anticipations reported by manufacturers in February 1965. Inventories have been corrected for systematic tendencies
in anticipatory data.
Sources: U.S. Department of Commerce. Anticipations, Office of Business Economics; actuals, Bureau of the Census.
im
Mar 31
June 30
Sept. 30
Dec. 31
1964
Mar. 31
June 30.
Sept 30
Dec 31
«iit
1
5
8
12
5
18
26
19
24
77
65
66
70
5
9
15
6
11
11
12
15
84
83
80
82
5
6
8
3
26
29
24
24
72
69
75
75
2
2
1
1
33
34
30
27
65
65
69
72
2
1
1
1
15
22
15
17
83
76
83
81
2
2
2
2
18
14
10
10
81
85
88
88
1
1
2
2
20
15
11
10
79
84
87
88
1 16
1 13
2
9
2
9
83
85
88
89
1
2
3
2
14
14
15
14
84
84
83
84
2
2
2
2
19
17
18
17
80
82
81
82
1 8
1 9
1 11
1 11
89
89
86
86
3
2
3
3
15
15
17
. 13
82
83
81
85
3
2
2
2
17
18
19
14
81
80
80
84
2
2
1
2
12
10
14
10
85
88
83
87
3
2
3
3
_ _ 16
_. 13
82
84
82
84
2
3
4
3
17
16
15
15
81
81
81
82
2
3
4
3
14
9
11
9
84
88
84
87
2
3
5
4
..
Mar. 31 .. June30_ _ __
Sept. 30
Dec. 31
25 2
11jj •S
s
«!
80
72
72
75
...
64 8
8
39 6
6
Seasonally adjusted
5
15
20
16
20
1961
Mar. 31
June 30
Sept. 30 .
Dec. 31 _- .
Unadjusted
All manufacturing
Durables
Nondurables
Dec. 31
WfiO
Mar. 31
June 30
Sent. 30
Dec. 31
|l 1
14
13
1. Condition of actual inventories relative to sales and
unfilled orders pos ition as viewed by reporting companies.
Percent dlslribulk>n of inventory book values according to
companies' classifi<sation of inventory condition.
Source: U.S. Department of Commerce, Office of Business
Economics.
by GENEVIEVE B. WIMSATT
Business Investment and Sales Programs for 1965
Expansion Continues Into Fifth Year
B,
BUSINESSMEN'S 1965 capital budgets
provide for continuing increases in expenditures for new plant and equipment
throughout the year. Current plans
call for aggregate outlays of $50.2 billion—$5% billion, or 12 percent, more
than 1964.1 Increased budgets for 1965
are found in all major industry groups,
according to the results of the regular
survey of business spending intentions,
conducted in February by the U.S. Department of Commerce and the Securities and Exchange Commission.
Expenditures in the final quarter of
1964 were at a record seasonally adjusted annual rate of $47.8 billion, up
$2 billion from the third quarter.
Spending is expected to rise to $48.8
billion in the first 3 months of this year,
and to $49.7 billion in the second
quarter, and still further in the last 6
months of 1965 to an annual rate of $51
billion. All industry groups show continued increases in capital outlays
through the year except the nonrail
transportation industry, which expects
second-half spending to hold at the
first-half rate.
Actual expenditures in the fourth
quarter of 1964 were $1 billion higher,
at a seasonally adjusted annual rate,
than the anticipation for this quarter
made in November. Nonrail transportation and manufacturing accounted
for the bulk of the upward revision.
The anticipations for each of the first
two quarters of this year are also about
$1 billion higher than those reported in
the November survey.
1. This figure is adjusted for systematic biases in anticipated data (see footnote 2, table 4, for a description of methodology). The anticipation before application of such correction factors was $49.16 billion; the figure for manufacturing
was $21.48 billion, and for nonmanufacturing, $27.68 billion.
While the adjustments are applied to each industry, the net
effect in manufacturing is virtually zero; for nonmanufacturing the total has been raised about $1 billion.
Higher sales expected in 1965
The survey also reveals that businessmen generally are looking forward to
further sales improvement this year.
In manufacturing, both durable and
nondurable goods companies are anticipating advances in dollar sales of 6
percent over 1964. Trade firms and
public utilities are now expecting sales
to be 5 percent higher this year. In
all cases these expectations suggest a
small further expansion over current
sales rates.
Investment demand continues high
The expected advances in outlays
for new plant and equipment would extend the current investment rise into
its fifth year to exceed the duration of
any of the previous postwar investment expansions. The scheduled increases from 1964 to 1965, ranging
from 6 percent by public utilities to 16
percent by manufacturers, are impressive, even though they do not quite
match the unusually large increases
from 1963 to 1964. This year's rise in
investment is likely to outpace that of
gross national product for the second
consecutive year, after a lag in the
1958-63 period.
The current survey provides further
indications of the basic strength in
investment demand. First, expenditures for plant are expected to increase
relative to those earmarked for equipment from 1964 to 1965; the increases
are mild but general throughout the
manufacturing and commercial groups.
A shift toward plant usually connotes
a greater emphasis on capacity expansion rather than on modernization
and replacement. Secondly, in spite
of the very substantial rise in expenditures last year, manufacturers' carry-
over of uncompleted investment projects on December 31, 1964 was twofifths higher than at the start of last
year.
CHART 4
Businessmen Expect to Spend
12 Percent More on New Plant and
Equipment in 1965 than in 1964
Record outlays projected by all
major industry groups
Billion $
:. DURABLE GOODS MANUFACTURING' ,. ;'
I NONDURABLE GOODS MANUFACTURING,
10-
: COMMUNICATIONS & COMMERCIAL
15-
PUBLIC UTILITIES
: TRANSPORTATION
I960
61
62
63
*Anticipated
U.S. Department of Commerce, Office of Business Economics
64
*65
Data: OBE-SEC
65-3-4
6
SURVEY OF CUEKENT BUSINESS
Reflecting advance preparations for
1965 capital programs, new orders for
machinery and equipment in January
continued their rising trend and were
some 20 percent above the peak in the
1955-56 investment boom. These orders ordinarily lead plant and equipment expenditures by about two and
sometimes three quarters. Their rising
trend lends additional support to the
projected spending rise, at least for the
first half of 1965.2
The basic factors stimulating business
investment have continued to be favorable thus far in 1965, even aside from
the special influence from autos and
steel in the recent period. Profits and
cash flow are at record levels. Sales
are currently at a peak and prospects
generally appear good for this year.
As sales have climbed to new high
ground there has been some increase
in the utilization of capacity. The
lengthening of the workweek and the
resultant increase in overtime hours
2. The relationship of new orders and shipments of machinery and equipment is discussed later in this issue. The
indicated lead of new orders is found to be somewhat shorter
for shipments than for expenditures, and reflects primarily
the time lapse between shipments and payments.
Table 1.—Percent Changes in Plant and
Equipment Expenditures, 1961-65
Actual
Anticipated
1961-62 1962-63 1963-64 1964-65
9
5
14
_ _ _ __
7
7
18
16
Durable goods industries 1_.
Primary metals
Machinery
Transportation equipment
Stone, clay, and glass
12
1
9
12
17
_1
20
31
19
15
13
22
5
25
11
14
17
19
g
18
3
1
23
5
-3
4
2
—2
5
(*)
3
2
17
9
17
30
22
15
18
11
36
13
24
13
AH industries !
Manufacturing *
Nondurable goods industries l
Food and beverage
Textile
Paper
Chemical.
Petroleum
Mining
.
12
10
—3
14
11
27
30
27
15
12
1
—7
24
8
Public utilities
3
10
g
Communications
13
4
13
Commercial and other _
13
5
8
Railroad
Transportation other than
rail _
,0
*Less than 0.5 percent.
1. Includes industries not shown separately.
Source: U.S. Department of Commerce, Office of Business
Economics and Securities and Exchange Commission.
may be acting as a spur to costcutting
investment.
The recently announced modification
of the depreciation rules, postponing
the application of the reserve-ratio test,
may provide a further stimulus to
investment since for a large number of
firms after-tax profits in 1965 will be
higher than originally estimated. Effects of the changes are probably not
incorporated in anticipated spending
plans as reported here. A large number
of returns were received prior to the
announcement, and most returns
generally reflect budgets formulated
earlier in the year.
Realisation of investment programs
In each of the quarterly surveys of
1964 businessmen reported that they
had spent more than they had previously planned, and also that they
were raising their sights for the coming
quarters. The result of these successive expansions in programs was a 14
percent rise in actual outlays in 1964
over 1963, in contrast to the 10 percent
rise planned early last year. It was
the largest upward revision since the
6 percent adjustment in 1955. In the
intervening years the average difference (including both overstatements
and understatements, without regard to
sign) between anticipated and actual
outlays was 1% percent per annum.
All major industry groups spent more
than initially planned in 1964, with
nonrail transportation and mining firms
showing the largest relative increases.
Nonrail transportation firms, durable
goods manufacturers and nondurable
goods manufacturers each accounted
for about one-fourth of the $1% billion
upward revision. For both durable
and nondurable goods manufacturing,
actual sales increases last year were
also larger than anticipated at the time
the annual capital budgets were first
reported.
March 1905
Most manufacturing industries have
programed rising expenditures throughout 1965. Exceptions are electrical
machinery and paper, which expect
second-half outlays to be at about the
first-half rate, and food and motor
vehicles, which anticipate somewhat
lower outlays in the latter half of the
year.
Among durables, iron and steel and
motor vehicle producers—the pacesetters in 1963 and 1964—continue
with large expansion and modernization
programs. The 10 percent rises in
capital spending projected for this year
are understandably more moderate than
the very large increases of 36 percent
and 42 percent last year. The major
Table 2.—Petroleum Industry Plant and
Equipment Expenditures, by Function
1964 and Anticipated 1965.
1965
1964
Antici- Actual Anticipated
pated
(Billions of dollars)
Total
Production
Transportation
_
Kenning and petrochemicals
Marketing
Other
-
1964-65
Percent
change
3.24
1.74
.21
3.36
1.96
.17
3.79
1.80
.13
13
-8
-21
.66
.52
.11
.46
.63
.14
.94
.70
.22
103
11
58
Source: U.S. Department of Commerce, Office of Business
Economics, and Securities and Exchange Commission.
producers of capital equipment—electrical and nonelectrical machinery—
are scheduling investment increases of
24 percent and 17 percent, respectively,
for 1965. The increase in electrical
machinery follows 2 years of stable
outlays. Nonelectrical machinery firms
had shown little expansion in capital
spending in the early years of the
expansion, but increased expenditures
sharply last year. In this connection
it may be noted that orders for machine
tools, which had given only a lackluster
performance from 1957 to 1963, have
Manufacturing Investment
risen sharply in recent months.
Programs
Among the nondurables, the chemical
Manufacturers are planning to spend industry continues to show the sharpest
$21% billion in 1965—a rise of 16 per- rise in capital outlays. Textiles, pecent from 1964. The expected increase troleum, and paper are also extending
in durable goods is 14 percent and in their rapidly expanding investment
programs into 1965.
nondurable goods, 18 percent.
SURVEY OF CUEEENT BUSINESS
Marcb 1965
Carryover of uncompleted
rises sharply
projects
The carryover of investment projects
at the end of 1964, i.e., expenditures
still to be incurred by manufacturers
for projects already under construction
or on order, totaled $12.7 billion, or
$3.6 billion more than a year earlier.
The increase in 1964 was more than
twice that in 1963. Carryover rose
during each quarter last year, with
more than $% billion added during the
closing 3 months.
Carryover as of December 31, 1964
represented nearly 60 percent of anticipated outlays for this year. The yearend 1963 and 1962 carryovers were 49
percent and 46 percent, respectively, of
actual outlays in 1964 and 1963. In
general the higher the ratio of carryover
to anticipated expenditures, the more
likely it is that the expenditures will be
made, since carryover represents relatively firm commitments not so easily
canceled or postponed as projects not
yet actually started.
The total cost of new projects started
in a given year equals the sum of that
year's expenditures and change in carryover. New investment projects started
during 1964 amounted to $22.2 billion,
one-fifth larger than actual outlays
during that year. Starts in 1963 were
$17K billion—about one-tenth more
than expenditures.
As can be seen in the chart, both
durable goods and nondurable goods
industries started new projects in both
1963 and 1964 in excess of their spending, so that carryovers rose in both
years. The increases in carryover were
larger in 1964 than in 1963. The nondurables, however, contributed substantially more to the overall rise in
the 1964 carryover than did the durable
goods group—a reversal of their relative
positions in the preceding year. For
example, soft goods producers increased
carryover by $2 billion last year compared with $800 million in 1963. For
durables the corresponding figures were
$1% billion and $1 billion. Each group
accounted for about half of the starts
in both 1963 and 1964.
Last year both steel and motor vehicle companies reported substantial
increases in carryover. Each industry
started new investment projects in
1964 with a total cost in excess of $2
billion; actual spending in each case
was just under $1.7 billion. Nonelectrical machinery firms substantially
Carryover of Investment Projects
Rose During 1963 and 1964 as Starts Exceeded Expenditures
NONDURABLE GOODS INDUSTRIES
DURABLE GOODS INDUSTRIES
Billions of dollars
5
Billions of dollars
0
0
CARRYOVER; DEC. 1962
'"'
'*
i -,* -
N
\ -;
EXPENDITURES, 1963,
CARRYOVER,;,DEC, 1963. ,
- :^+--;:'^
STARTS, 1964
.
EXPENDITURES, J 9 6 4 ,
• CARRYOVER, DEC., 1964
U.S, Department of Commerce, Office of'Business Economics
. .
5
10
15
Nonmanufaeturing
Investment
Public utilities are programing expenditures of $6.6 billion for 1965, an
increase of $350 million over 1964. If
realized, 1965 expenditures would match
the record set in 1957. Unlike investment in other industries, outlays by the
utilities had declined moderately from
the 1957 peak until mid-1963. Actual
spending for 1964 was up 10 percent
over 1963, and represented the first
appreciable rise in 7 years.
All of the projected increase for 1965
is attributable to electric power companies; gas and other utilities are planning to spend about as much as in 1964.
The increase programed by the electric
utilities extends through this year.
Data from Electrical World indicate that
while the utilities expend to spend more
this year for generating and local distribution facilities, the major expansion
is in transmission investment, including
long-distance lines, interconnections between systems, and extra-high-voltage
line construction.
Transportation
sharply
STARTS,M963,;:
CHART 5
increased their carryover in 1964 and
started new projects to cost $1% billion.
Electrical machinery firms increased
their carryover in 1964 in contrast to
a slight reduction during the preceding
year.
Among the nondurables, the largest
increases in carryover during 1964 were
reported by rubber, petroleum, and
chemical companies. For the latter
two groups starts amounted to $4%
billion and $2% billion, respectively, as
compared with spending of $3K billion
and $2 billion.
investment
up
Last year was a very strong year for
investment by transportation companies. Both railroads and nonrail transportation firms increased expenditures
for new plant and equipment by about
one-fourth over 1963, to $1.4 billion and
$2.4 billion, respectively. Further increases, to $1.6 billion and $2.6 billion,
are planned for this year, with upward
trends during the year indicated.
For the railroads, the anticipated
level of spending for this year would
match the records (measured in current
dollars) reached in 1949 and 1951. The
SURVEY OF CURRENT BUSINESS
8
March 1965
Table 3.—'Carryover and Starts of New Plant and Equipment Projects, Manufacturing and Public Utilities
[Billions of dollars]
Carryover *
1962
Starts 2
1963
Dec. March June
1964
Sept.
Dec. March
June
1963
1964
Dec.
Sept.
I
II
III
IV
Year
(End of period)
I
II
III
IV
Year
7.21
3.99
1.66
.33
.25
.87
.31
Public utilities
9.00
5.15
2.08
.36
.48
1.40
.30
9.18
5.25
2.27
.33
.40
1.37
.32
9.08
5.05
2.23
.32
.31
1.36
.29
10.38
5.61
2.30
.33
.53
1.48
.33
11.26
5.95
2.56
.37
.48
1.63
.38
11.88
6.21
2.59
.41
.41
1.86
.39
12.63
6.62
2.74
.41
.43
2.02
.40
4.68
2.47
.63
.20
.59
.55
.14
4.30
2.27
.51
.17
.22
.70
•14
4.13
2.06
.64
.14
.21
.39
.17
4.42
2.12
.46
.18
.30
.45
.14
17.56
8.91
2.22
.68
1.31
2.09
.59
5.10
2.48
.50
.16
.55
.49
.19
5.41
2.65
.77
.20
.36
.63
.22
5.29
2.63
.58
.20
.34
.77
.18
6.37
3.24
.84
.20
.52
.78
.20
22.17
10.99
2.68
.76
1.76
2.66
.79
3.78
.42
.16
.52
1.01
1.32
3.85
.41
.15
.56
1.01
1.40
3.94
.36
.14
.61
1.11
1.41
4.03
.41
.20
.59
1.03
1.50
4.78
.42
.26
.61
1.26
1.90
5.31
.40
.28
.78
1.39
2.10
5.68
.40
.28
.77
1.61
2.23
6.01
.54
.29
.77
1.59
2.43
2.20
.30
.14
.30
.34
.89
2.03
.25
.17
.21
.39
.78
2.07
.20
.14
.24
.49
.77
2.30
.29
.23
.20
.38
.96
8.64
1.04
.68
.95
1.61
1.26
2.61
.26
.20
.19
.59
1.10
2.76
.24
.19
.40
.60
1.03
2.68
.27
.19
.23
.72
.97
3.13
.42
.26
.29
.61
1.18
11.17
1.19
.84
1.11
2.52
4.29
5.07
Nondurable goods 3
Food and beverage
Textile
Paper
Chemical. .
___
Petroleum
8.61
4.84
1.97
.37
.56
1.10
.32
3.23
.34
.17
._ .36
1.03
1.02
Manufacturing.
_
„
Durable goods 3
Primary metals
Electrical machinery
Machinery excluding electrical
Transportation equipment
Stone, clay and glass
6.13
6.40
5.58
5.46
6.20
6.17
5.60
5.65
2.10
1.67
.78
1.48
6.04
1.92
1.54
1.24
1.81
6.51
3. Includes industries not shown separately.
1. Carryover refers to expenditures yet to be incurred on plant and equipment projects
already underway.
2. Starts are estimated by adding changes in carryover to expenditures during the given
period.
Source: U.S. Department of Commerce, Office of Business Economics and Securities and
Exchange Commission.
Table 4.—Expenditures for new plant and Equipment by U.S. Business, l 1963-65
[Billions of dollars]
1963
1963 1964 1965 2
_ >
Durable goods industries
Primary iron and steel—
___
Primary nonferrous metal
Electrical machinery and equipment
Machinery, except electrical
Motor vehicles and parts.
Transportation equipment, excluding
motor vehicles.
_
Stone, clay and glass3
Other durable goods
II
III
IV
I
II
1965
III
IV
12
112
S
1963
2d
half 2
I
II
III
IV
I
1965
1964
II
HI
IV
12
112
2d
half 2
_
15.69 18.58 21.53 3.27 3.92 3.95 4.56 3.79 4.53 4.67 5.59 4.61 5.44 11.49 14.85 15.30 15.95 16.45 17.40 17.80 18.85 20.15 20. 95 21.30 21. 85
7.85 9.43 10.71 1.62 1.96 1.96 2.31 1.93 2.30 2.37 2.83 2.30 2.70 5.71 7.35 7.65 8.00 8.30 8.85 9.00 9.60 10.15 10.60 10.60 10.85
1.24 1.69 1.88 .23 .30 .33 .39 .34 .40 .42 .54 .38 .46 1.04 1,05 1.15 1.30 1.40 1.60 1.60 1.65 1.90 1.80 1.85 1.90
.60 .65 .70
.41 .48
.66 .09 .10 .12 .11 .09 .11 .13 .15 .13 .16 .37 .40 .40 .45 .40 .40 .45 .50 .55
.80 .85 .80
.69 .66
.82 .15 .18 .16 .20 .14 .16 .16 .20 .17 .21 .44 .75 .75 .65 .65 .70 .65 .65 .70
1.24 1.64 1.92 .27 .30 .28 .39 .33 .40 .40 .51 .42 .47 1.02 1.20 1.15 1.20 1.40 1.45 1.55 1.75 1.80 1.85 1.85 2.00
1.06 1.51 1.67 .19 .28 .29 .30 .25 .37 .43 .47 .38 .44 .86 .90 1.05 1.10 1.10 1.25 1.35 1.65 1.80 1.85 1.60 1.65
.50
.45
9.16 10.83 1.65 1.95 1.99 2.25 1.87 2.23 2.30 2.76 2.31 2.73 5.78 7.50 7.65 8.00 8.15 8.55
1.06 1.18 .22 .26 .25 .24 .24 .27 .27 .28 .28 .34 .56 .95 .95 1.00 .95 1.05
.76 1.02 .15 .18 .15 .17 .14 .18 .20 .25 .22 .26 .55 .65 .65 .60 .65 .60
.94 1.06 .14 .18 .19 .21 .18 .22 .24 .30 .22 .27 .57 .65 .70 .75 .80 .80
1.97 2.45 .36 .40 .39 .47 .37 .47 .50 .63 .53 .61 1.30 1.60 1.55 1.60 1.65 1.65
3.36 3.79 .59 .70 .76 .87 .70 .84 .84 .99 .78 .92 2.10 2.80 2.80 3.00 3.05 3.30
.27
.33 .05 .06 .07 .07 .06 .06 .07 .08 .07 .07 .18
.80 1.00 .15 .19 .18 .22 .18 .20 .19 .23 .22 .26 .53
8.80
1.00
.65
.90
1.80
3.35
.53 .48
.61 .68
2.05 2.28
7.84
.97
.64
.72
1.61
2.92
__ .24
.73
.49
.80
2.47
.12
.13
.44
.13
.16
.51
.13
.15
.51
.16
.17
.60
.11
.14
.51
.12
.17
.58
.11
.17
.56
.14
.19
.62
.10
.16
.55
.12 .26
.22 .42
.64 1.29
.50
.55
.50
.55
.45
.50
.45
.45
.50
9.20 10.00 10.40 10.70 11. 00
1.10 1.10 1.20 1.30 1.10
.95 1.00 1.10
.80 .95
.95 1.05 1.00 1.10 1.05
2.05 2.25 2.35 2.40 2.50
3.30 3.50 3.55 3.65 3.95
1.04 1.19
Mining.
Railroad-
I
1964
39.22 44.90 50.17 8.25 9.74 10.14 11.09 9.40 11.11 11.54 12.84 10.85 12.72 26.60 36.95 38.05 40.00 41.20 42.55 43.50 45.65 47.75 48.85 49.65 50.95
All industries. _.
Manufacturing industries. _
Nondurable goods industries
Food and beverage
Textile.
Paper
Chemical
_
Petroleum....
Rubber....
_
Other nondurable goods 4
Quarterly, Seasonally Adjusted at Annual Bates
Quarterly, Unadjusted
Annual
_
1.31
.24
.26
.27
.28
.26
.29
.30
.33
.28
.34
.70 1.05 1.00 1.05 1.05 1.15 1.15 1.20 1.30
1.20 1.30 1.35
1.10 1.41
1.62
.21
.28
.29
.33
.32
.36
.37
.35
.42
.42
.79
.90 1.00 1.20 1.35 1.40 1.25 1.50 1.55
1.75 1.45 1.65
.39
.54
.45
.54
.51
.63
.59
.64
.56
Transportation, other than rail
1.92 2.38
2.57
.78 1.24 1.70 2.05 1.85 2.10 2.30 2.25 2.40 2.60
2.50 2.75 2.50
Public utilities... .
5.65 6.22
6.56 1.04 1.40 1.60 1.61 1.18 1.58 1.71 1.76 1.25 1.64 3.68 5.20 5.45 5.90 5.80 5.95 6.30 6.30 6.35
6.40 6.45 6.65
Communication
3.79 4.30
Commercial and other «
10.03 10.83
Il6. 58
J.85
.95
.93 1.06
.97 1.10 1.06 1.17
12.26 2.41 2.64 2.72 2.37 2.61 2.84 3.01
1. Data exclude expenditures of agricultural business and outlays charged to current
accounts.
2. Estimates are based on anticipated capital expenditures reported by business in February
1965. The estimates for the first quarter, second quarter and second half of 1965 have been
adjusted when necessary for systematic tendencies in anticipatory data. The adjustment
for each industry and time period is based on the median ratio of actual to anticipated expenditures for the past 5 years. However, no adjustment is made unless the anticipations
have shown a bias in the same direction in at least 4 of the last 5 years and in at least two-thirds
of all years since 1954. The only departure from this procedure is in the estimate for retail
trade (in the second half 1965) where the sample may be inadequate and the suggested correction factor would yield an unusually large and unlikely figure.
U.74 4.13 8.72
J3.55 3.65 3.85 4.05 4.05 4.30 4.40 4.40
19.65 9.65 10.20 10.45 10.25 10.45 11.00 11.40
Il6. 00 16.40 16.90
3. Includes fabricated metal, lumber, furniture, instrument, ordnance, and miscellaneou s
industries.
4. Includes apparel, tobacco, leather, and printing-publishing.
5. Includes trade, service, finance, and construction.
NOTE.—Details may not add to totals due to rounding. Data for earlier years were published in the June 1956, March 1958, 1960, 1961, 1962, 1963, and 1964 issues of the Survey of
Current Business.
Sources: U.S. Department of Commerce, Office of Business Economics, and Securities
and Exchange Commission.
SURVEY OF CURRENT BUSINESS
March 1 6
95
resurgence in railroad investment has
been reflected in advances of more than
one-fourth in each of the past 3 years.
During this period increases have
centered in the purchase of new equipment, but for 1965, the relative increase planned for construction is
greater than that for equipment purchases. It is of interest to note that
shipments of freight cars have risen
from 36,000 in 1962 to 46,000 in 1963,
and 69,000 last year. Installations by
the railroads have been more than offset in number (but not in quality), by
scrappage: the number of freight cars
owned or leased by Class I railroads
was 4 percent lower at the end of 1964
than 2 years earlier.
Among other transportation industries, airlines and trucking firms are
planning further substantial increases
in investment for 1965, which more than
offset a decline in projected spending by
pipeline companies. In air transport,
the relative increases in spending are
larger for feeder lines than for trunk
lines, and reflect a catching-up on
purchases of jet planes by the former
group.
Communications and commercial
firms as a group are projecting a 10
percent increase in 1965 expenditures
9
over 1964. The planned increase is
When the annual expectations for
about the same size as the actual ad- manufacturing and trade on an overall
vance in 1964, and extends to all major basis are compared with the high sales
industries, with retail investment in the rates in early 1965 (rather than with
forefront.
those for 1964), they imply only slight
Reports by mining companies show further advances during this year.
that increases in investment have been While most manufacturing industries
scheduled by all component industries expect additional sales gains over curfrom 1964 to 1965, and within the year rent rates, these advances are largely
as well. The largest relative year-to- offset by steel and motor vehicles, where
year advances are expected by non- the expectations for the full year 1965
ferrous metal and coal mining firms.
are lower than the abnormally high
January 1965 seasonally adjusted anSales Rise Expected To
nual rates.
Continue
Manufacturing, trade, and utilities
companies are expecting their sales to
rise from 1964 to 1965 about as much
as they did in the previous 2 years
(see chart). As noted earlier, the
anticipated increase is 6 percent for
manufacturing. At this time last year
a similar advance was expected, with
the actual rise turning out to be 7
percent. The 5 percent rise expected
by trade firms for 1965 is a little lower
than both the projection and the actual
increase for 1964. Utilities are thinking
in terms of a 5 percent sales gain for
1965; actual sales rose 6 percent from
1963 to 1964, as compared with an
anticipated 5 percent improvement.
Table 5.—Business Sales, Actual and
Anticipated, 1963-65
[Percent change]
1964-65
1963-64
Antici- Actual Anticipated
pated
Manufacturing industries l
6
7
6
Durable goods industries i
Primary metals
Electrical machinery
Machinery, except electrical- _
Transportation equipment
Stone, clay and glass
6
4
6
8
4
7
6
10
5
11
2
1
7
3
9
12
4
7
Nondurable goods industries L.
Food and beverage
Textile
Paper .
__ __
Chemical
Petroleum
5
5
6
7
5
3
7
8
8
5
9
4
6
6
7
3
8
3
Trade _
6
7
5
Public utilities
5
6
5
1. Includes industries not shown separately.
Business Situation
CHART 6
Changes In Sales—Manufacturing, Trade, and Utilities
• Further improvement projected for 1965
Percent Change
10 . •
,
1962-63
63-64
64-65
U.S. Department of Commerce, Office of Business Economics
764-272 O—«5—21
(Continued from page 2)
in the final quarter of 1964, $1K billion
less than in the third quarter, according
to preliminary estimates. Book profits,
which include gains due to inventory
price increases, amounted to $57% billion, $% billion below the third quarter.
The decline, the first in seven quarters,
reflected a sharp drop in the profits of
the auto industry as a result of the
strikes. Changes in other manufacturing industries were mixed, while most
nonmanufacturing industries reported
small gains.
For the year 1964 corporate pre-tax
earnings adjusted for inventory gains
or losses reached an alltime high of
$57% billion, $6K billion above 1963.
All major industry groups contributed
to the year-to-year gain.
Estimates of corporate profits for the
fourth quarter and for 1964 based on
more complete data will appear in next
month's SURVEY.
by EVELYN M. PARRISH
The U.S. Balance of Payments in 1964
F
OK 1964 as a whole the adverse
balance (as measured by changes in
monetary reserves and liquid liabilities
to foreigners) amounted to $2.8 billion.
Of this total the fourth quarter alone
accounted for $1.3 billion.
The balance of payments had improved significantly in the last two
quarters of 1963 and the first quarter of
1964. It returned to a more adverse
position during the next two quarters,
although it remained considerably improved compared with the average rate
from 1958 to mid-1963. In the fourth
quarter, however, the balance of payments was set back markedly by a
sharply unfavorable movement.
The international reserves of the
U.S. monetary authorities rose by $151
million during the fourth quarter.
While the monetary gold stock declined
by $172 million, holdings of convertible
foreign currencies advanced by $205
million and the gold tranche position
in the International Monetary Fund
(IMF) increased by $118 million. Much
of the rise in the latter two international
accounts represented credits obtained
by the United Kingdom from the
United States and the IMF during the
sterling crisis in November. While
these credits improved the international
reserves of the United States, to the
extent that they also increased liquid
liabilities, they had no effect on the
overall balance.
Total U.S. liquid liabilities in the
fourth quarter rose by $1,491 million.
Foreign holdings of nonmarketable,
medium-term convertible U.S. Government securities were up by $50 million, and foreign deposits in U.S. banks,
holdings of marketable Government
10
The seasonally adjusted balance exsecurities and of private marketable
clusive of the special Government acshort-term obligations rose by $1,441
counts—the balance on "regular" types
million.
of transactions—was $1,505 million in
Special Government transactions in
This adverse
the fourth quarter totaled $183 million. the fourth quarter.
balance has been exceeded only in the
These included net advances of $147
million by foreign governments on third quarter of 1950, following the
military contracts, and nonscheduled outbreak of the Korean conflict.
For the entire year 1964 the unfavorrepayments of $7 million on U.S.
able balance on "regular" types of
Government loans. There was also a
net increase of $29 million in foreign transactions totaled $3,053 million, an
holdings of nonconvertible medium- improvement of $208 million from the
1963 balance.
term Government securities.
For the year, the improvement over
Net receipts from these special Government transactions totaled $292 mil- 1963 was due to an expansion in net
lion during all of 1964, down from $617 receipts from merchandise trade and
million in the preceding year. Both from income on investment which exGovernment loan prepayments and ceeded the increase in private capital
advances on military contracts were outflows. From the third to the fourth
quarter, however, the increase in private
lower in 1964.
CHART 7
Balance on International Transactions*
Billion $
.5
Billion $
2
-2
-1.0
Excluding,Receipts from Special
, Government Transactions2
-6
-1.5
1955
57
59
61
63
65
1963
1964
Quarterly, Seasonally Adjusted
*As measured by changes in U.S. monetary reserves and in liquid liabilities including U. S. Government nonmarketable, medium-term convertible securities, which
2
equals balance on all other international transactions.
'Table 1 line Cl
Table 1 line A13
U.S. Department of Commerce, Office of Business Economics
March 1965
capital outflows exceeded the rise in net
merchandise trade receipts, while receipts from income on investment
declined.
Special Factors Affecting the
Fourth Quarter Balance
Several special situations contributed
to the shift in the balance in the fourth
quarter.
The major impact from the British
sterling crisis on the U.S. balance of
payments arose from the British decision to postpone the interest and
principal payments of $138 million due
on their U.S. Government loans, ordinarily paid at the end of each year.
The British imposition of a 15 percent
surcharge on imports at the end of
October, a move which affected about
50 percent of U.S. sales there, did not
appear to have appreciable influence
on our fourth quarter exports.
Reports from non.financi.al corporations indicate withdrawals of about
$100 million in short-term funds from
the United Kingdom in the fourth
quarter. These withdrawals followed
a somewhat larger increase in such
assets in the previous quarter. The
fact that both movements were exceptionally large compared with previous experience may indicate that they
reflect special transactions. Furthermore, the withdrawals of funds from
the United Kingdom were nearly offset
by larger investment of such funds in
continental Europe, and thus did not
result in a major improvement in the
U.S. balance of payments.
Concern about the future of sterling
may also have affected confidence in
the dollar, and may have led to transactions which accentuated the adverse
development in our balance of payments. As a defensive measure to
protect the dollar in international
financial markets, the United States
raised its discount rate from 3.5 to 4
percent in November after the Bank
of England increased its discount rate
from 5 to 7 percent and other countries
raised theirs.
Fourth quarter purchases of new
foreign securities were very heavy
following the signing of the Interest
SURVEY OF CURRENT BUSINESS
11
Equalization Tax Act early in September. The new law ended uncertainties
which dampened U.S. transactions in
such securities during the year in which
the bill was pending before Congress.
Purchases in the fourth quarter included a large amount of Canadian
issues, and also $100 million of issues
of the Inter-American Development
Bank (IADB). Much of the fourth
quarter outflow of $590 million for
new issues, after seasonal adjustment,
no doubt was of a nonrecurring nature,
and the outflow may be expected to
return to an annual rate similar to the
$1,1 billion for the year 1964.
The second stage in U.S. corporate
tax reduction effective in January 1965
may have caused some deferral of
income returns on foreign investments
in the fourth quarter, but not as much
as had taken place a year earlier, when
the first stage of the tax reduction
occurred.
Domestic strikes and threats of
work stoppages also affected the U.S.
balance of payments accounts in the
fourth quarter. The longshoremen's
strike on the Atlantic and Gulf coasts
began on October 1 but was quickly
halted under a Taft-Hartley injunction
and did not resume until January 11
of this year. It is difficult to determine
the amount of merchandise trade that
may have moved in anticipation of the
strike. Rough estimates suggest that
in September exports may have included between $50-75 million of strikeanticipated shipments and that in
November and December exports may
have been inflated by about $150-175
million.
The work stoppages in the domestic
automotive industry during October
and November appear to have reduced
significantly U.S. exports of automobiles aud parts in the fourth quarter.
In Canada, assembly operations halted
because of a shortage of parts and,
late in the quarter, because of a Canadian strike. These developments led
to reduced earnings on U.S. investments in Canada and to higher capital
outflows to that country. The total
adverse effect on the balance of payments of these occurrences in the automotive industry may have been about
$125 million.
Imports were affected much less
than exports by accelerated movements in anticipation of the dock
workers7 strike. They were, however,
increased by the higher demand for
steel in expectation of a possible work
stoppage in the United States later
this spring, and by replenishment of
coffee inventories.
The effect of the unfavorable tempo-
CHART 8
Major Balance of Payments Accounts
Net exports of goods and services*
Billion $
2.5
. ,.
TOTAL
' Goods & Services
1.0
' • incomes on investment
• • ,.
..-:
• - '•;•; ./.utner
/,
.-
-.5
... *
-1.0
';. Military Expenditures Less Sales
'1 f M • ' *
;
,,
I J 1 » I I I !• I M I t I- ' . I I 'I
U.S. private capital outflow, net
.5
0
".
Direct Investment . • • • • ' •
• » • i. i- J'. i t ' *-'•( i \i \A-\ iVl i .'i; i i l.--i i, i ..
1.0
. . . . . .
- , .,
Banking Claims
Other Y
t ...,,
1960
61
62
63
64
65
Quarterly, Seasonally Adjusted
""Includes remittances and pensions
U.S. Department of Commerce, Office of Business Economics
65-3-8
SURVEY OF CURKENT BUSINESS
12
March 1965
Table 1.—Analysis of U.S. Balance of Payments, Seasonally Adjusted, Excluding Military Grant Aid
[Millions of dollars]
Calendar year
1963
1963
1964 *
I
1964
II
III
IV
If
IP
IIP
IVp
Transactions other than changes in official monetary assets and in liquid liabilities
(including nonmarketable, medium-term, convertible Government securities)
I US PAYMENTS (DEBITS) RECORDED
35,990
1 Imports of goods and services
2
Merchandise
3
Military expenditures * 4
Other services
-5 Remittances and pensions
6 Government grants and capital outflows
7.
8.
-
-
-- -
(Transactions involving no direct dollar outflows from the United States)..
(Dollar payments to foreign countries and international institutions') 2
9. U
10
11.
12
S private capital
Direct investments
Long term portfolio
Short term
-
--
-
-
_____
II U S RECEIPTS (CREDITS) RECORDED
1 Exports of goods and services
2
Merchandise
3
8,724
9,713
8,482
9,071
9,289
9,754
10,026
10,712
28, 314
18, 638
2,807
6,869
830
4,277
3,570
707
6,327
4,037
747
1,543
209
1,060
809
251
6,531
4,212
731
1, 588
209
1,336
1, 081
255
6,733
4,368
711
1,654
206
1,009
815
194
6,744
4,379
708
1,657
202
1,117
930
187
6,805
4, 416
717
1,672
197
928
781
147
7,039
4,605
728
1,706
206
1,103
911
192
7,138
4,716
694
1,728
212
1,098
921
177
7,332
4,901
668
1,763
215
1,148
957
191
4,307
1,888
1,685
734
-
39,781
25, 335
16,996
2,897
6,442
826
4,522
3,635
887
6,360
2,297
1,956
2,107
1,128
618
546
-36
1,637
477
598
562
534
235
303
-4
1,008
558
238
212
1,359
513
236
610
1,406
568
283
555
1,578
577
597
404
2,017
639
840
538
33,685
_ _
_
(Financed by Government grants and capital).-
- --
4.
Military sales 3
_.
5
Income on investments, private
6
Income on investments, Government
-7
Other services
__ -_
__
8 Repayments on U.S. Government loans, scheduled
9 Repayments and selloffs nonscheduled
10 Foreign private capital other than liquid funds
11. Government liabilities other than marketable or convertible securities
37,913
7,780
8,429
8,596
8,880
9,308
9,124
9,614
9,867
32,020
21, 989
2,720
659
3,969
498
4,905
643
326
310
386
36, 523
25, 219
2,839
758
4,706
456
5,384
572
122
271
425
7,535
4,990
595
181
1,036
123
1,205
141
25
-24
103
7,977
5,472
827
206
969
124
1,206
156
34
266
-4
8,037
5,610
627
117
963
125
1,222
183
241
113
22
8, 471
5, 917
671
155
1,001
126
1,272
163
26
-45
265
8,984
6,108
637
210
1,214
131
1,321
159
52
22
91
8, 838
6,053
710
151
1,193
131
1,310
159
33
131
-37
9,247
6,372
756
182
1,211
131
1,351
160
30
-1
178
9,454
6,686
736
215
1,088
63
1,402
94
7
119
193
4,993
-2,238
3,273
-343
5,685
-
6,581
-2,049
3,858
-181
8,209
953
-566
884
-63
1,208
1,260
-525
814
-103
1,446
1,242
-594
780
-124
1,304
1,538
-553
795
-53
1,727
1,692
-507
1,028
-34
2,179
1,448
-577
1,001
-73
1,799
1,656
-512
1,018
-53
2,109
1,785
-453
811
-21
2,122
2,847
-826
4, 807
-830
462
-209
441
-209
543
-206
901
-202
1,417
-197
941
-206
1,216
-212
1,233
-215
SELECTED BALANCES (NET CREDITS +, DEBITS -)
A. Regular types of transactions, seasonally adjusted:
1
2
3.
4
5
6.
Merchandise trade, excluding military
Military sales and expenditures
Incomes on investments
_
Other services _ _ _
__
Goods a n d services _
_ _ _ _ _ _ _ _ _
_
(Excluding exports of goods and services financed by government grants
and capital outflows)
7 Remittances and pensions
_ _ _ _ _
__
8. Government grants and capital outflows, less changes in associated
liabilities, less scheduled loan repayments
- _ _
Domestic and foreign private capital:
9. Direct and long-term portfolio
-10. Short-term
1 1 ^Miscellaneous Government noiiliouid liabilities
_ _ _ _ _ _ _ _ _
12 Errors and unrecorded transactions
__
_
13 Balance on regular types of transactions (seasonally adjusted)
14. Less* Net seasonal adjustments
_ __
15 Balance on regular types of transactions before adjustment
-3, 785
-3,657
-899
-1, 170
-791
-925
-778
-908
-934
-1,037
-3,244
-753
1
-339
-3,261
-4, 100
-1, 989
207
-893
-3,053
-1,159
-3,261
-3,053
-876
-495
1
-11
-1,314
-102
-1,212
-442
21
2
-267
-379
441
-820
-767
-286
-2
57
-398
18
-416
-736
-601
4
-138
-267
-336
69
-737
-538
-1
-31
-622
-35
-587
-1,238
-341
204
-247
-659
353
-1,012
-1,389
-509
(x)
-477
-1,505
18
-1,523
326
334
-43
31
-U
702
150
562
122
206
-36
-18
-20
375
34
-5
-10
19
-29
152
241
80
-95
-45
-50
175
25
150
26
239
-1
-1
52
151
-55
-5
-50
30
-28
-2
25
33
-64
-8
-8
(x)
122
(x)~
203
7
147
29
—1
30
50
375
25
20
63
58
5
350
125
225
25
122
203
50
-2,644
-2,761
-1,062
-1,295
-153
-134
-661
-659
-1,322
-2, 644
-2,761
-705
-1,193
-594
-152
-626
-1,012
-1,340
-1,942
-2,386
-712
-1,143
22
-109
-1,942
-2,386
-355
-1,041
-419
-127
1,564
2,215
323
917
192
132
594
970
1,517
698
397
-74
144
773
47
145
6
126
378
171
32
124
227
(x)
-118
-1,170
-357
-813
B. Special Government transactions (not seasonally adjusted)
1 Nonscheduled receipts on Government loans
_ _ _ _
2 Liabilities associated with military exports 3
_- 3 Net sales of nonniarketable medium-term, nonconvertible securities
4.
Dollar securities*
-5
Foreign currency securities
-- -6 Net sales of nonmarketable medium-term convertible securties*
-
8
-
Foreign currency securities
-
-
Cl. Balance A+B excluding net receipts from sales of nonmarketable, medium-term, convertible Government securities (including seasonal adjustment of items in A)
_ __
la Excluding seasonal adjustment (eciuals line 52 table 3)
2. Balance A+B including net receipts from sales of nonmarketable,
medium-term, convertible Government securities (including seasonal
adjustment of items in A)
-- -2a. Excluding seasonal adjustment (equals line 52a, table 3)
D. Increase in short-term official and banking liabilities and in foreign holdings
of marketable U S Government bonds and notes (decrease — )
1 Foreign holders other than official (lines II-3 4 5' table 6)
2. Foreign official holders (Lines II- 1 2* table 6)
-E Decrease in U S. monetary reserve assets (increase —-)
1. IMF gold tranche position
2 Convertible currencies
3. Gold
_
-- -- _ __
-
30
-113
461
•• Revised.
* Preliminary.
* Less than $500,000.
1. The data on military expenditures for the fourth quarter of 1964 are still subject to major
adjustments.
2. Under agreement between the Agency For International Development and recipient
countries some of these funds are to be used for procurement in the United States.
266
-220
125
-46
-33
111
152
2
6
116
59
-28
196
-119
217
-539
-456
-1,272
-504
-809
-1,290
-166
201
739
1,441
233
-399
109
92
553
186
622
819
-5
-51
303
70
15
-58
38
131
-228
46
118
258
-73
135
-45
-20
-119
217
3. See footnote 2 of table 4.
•
.
4. Includes Export-Import Bank Portfolio Fund Certificates of Participation.
-151
-118
-205
172
March 1965
SURVEY OF CURRENT BUSINESS
13
rary influences arising from the special reflected in part the increasing pressures and other financial centers The fourth
situations in the fourth quarter, in- of demand against available supplies quarter flow was largely in the category
cluding the bulge in purchases of new in the capital markets of many foreign of loans and acceptance credits, which
securities, extraordinary imports, effects countries. Directly or indirectly such were provided mainly to Japan and
of automotive work stoppages and capital outflows also substituted for less-developed countries; this suggests
deferrals of the British loan payments sales of securities that were shut off that they were not primarily quicklyand of income on investment, probably by the interest equalization tax.
reversible year-end cash flows of a
amounted to about $825 million. TemTable 5 points up the extent of the temporary nature.
porary favorable transactions, including rise in short-term bank lending that
Long-term bank lending also was at
strike-inflated exports, a large transfer began late in 1963 and continued a record rate during 1964 (table 5), and
of accumulated earnings from a Cana- through 1964, aside from a seasonal appeared to be accelerating toward the
dian subsidiary to an American parent third quarter return flow from Canada end of the year. Flows to Europe were
company, receipts of $100 million from
long-term time deposit certificates sold
to the IADB, and a $45 million purTable 2.—U.S. Balance of Payments by Major Components,1 Seasonally Adjusted
chase of special nonconvertible time
deposit certificates by a foreign country,
[Millions of dollars]
may have amounted to about $325
1964
Calendar year
million. Thus, net payments attributable to these temporary transacIllr
IV v
1963
1964 v
I
II
tions may have been about $500
million. If they are excluded, the Goods and Services, Government Assistance and LongTerm Capital Accounts 2
overall adverse balance on "regular" A. 1. Nonmilitary merchandise exports,
__ _
25, 219
6,108
6,372
6,686
21, 989
6,053
2.
Less: Those financed by Government grants and
transactions in the fourth quarter,
capital
736
2,839
2,720
756
710
637
after seasonal adjustment, would be
3. Merchandise exports, other than those financed by
Government grants and capital19, 269
5,950
22, 380
5, 343
5,616
5,471
about $1.0 billion, still higher than the
4 Nonmilitary merchandise imports
-4, 901
-16,996 -18,638
-4, 716
-4, 605
-4, 416
average balance of $640 million in the
5. Balance on trade excluding exports financed by
two preceding quarters.
Government grants and capi tal
:
1,049
2,273
900
3,742
1,055
738
6. Nonmilitary service exports
7.
Less: Those financed by Government grants and
capital __ -__
_
Private Capital Flows
Net outflows of U.S. private capital
in 1964 amounted to $6.4 billion, an
increase of $2.1 billion over 1963.
Direct investment abroad in 1964 was
up by $400 million over 1963 to a level
exceeded only in 1957. New foreign
security issues were somewhat reduced
last year, despite the fourth quarter
bulge. Net U.S. sales of outstanding
foreign securities amounted to $193
million last year in contrast with net
U.S. purchases of $49 million in 1963,
reflecting largely the restraining effects
of the interest equalization tax.
Most of the year-to-year upsurge in
private capital flows was in lending by
banks and, to a lesser extent, by nonfinancial firms. Foreign lending reported by banks, both short- and longterm, amounted to about $1.5 billion
in 1963 and rose to $2.5 billion in 1964,
while loans and acquisitions of shortterm assets reported by commercial
firms shifted from a liquidation of $0.2
billion in 1963 to an outflow of $0.9
billion in 1964. This sudden increase
8. Service exports other than those financed by Government grants and capital
9,372
10, 546
2,666
2,634
2,693
2,553
601
581
135
145
148
153
8,771
9,965
2,531
2,489
2,545
2,400
-6,442
-6,869
-1,672
-1,706
-1,728
-1,763
10. Balance on services other than those rendered under
Government grants and capital
2.329
3,096
859
783
817
637
11.
4,602
6,838
1,914
1,521
1,717
1,686
-2, 897
982
-2,807
984
-717
371
-728
85
-694
166
-668
362
-887
-707
-147
-192
-177
-191
9. Nonmilitary service imports
B.
_ __
Balance
Other major transactions
1. Military expenditures 3
_
2. Military cash receipts 4 _
3. Government grants and capital-dollar payments to
foreign countries and international institutions___4. Kepayments on U.S. Government loans excluding
fundings by new loans and repayments on military
credits
.
_
5. U.S. direct and long-term portfolio investments
abroad
6. Foreign direct and long-term portfolio investments in
the United States
^.
7. Remittances and pensions
8. Net sales of nonmarketable medium-term, non5
convertible securities
9. Miscellaneous Government nonliquid liabilities
793
572
183
174
165
50
-3, 573
-4, 253
-749
-851
-1, 174
-1,479
329
-826
153
-830
13
-197
114
-206
-64
-212
90
-215
-43
1
-36
207
-55
4
-8
-1
-2
204
29
(•)
_
-6,121
-6, 717
-1,294
-1,613
-1,788
-2,022
C. Balance on Goods and Services, Government Assistance
and Long- Term Capital Accounts
-1,519
121
620
-92
-71
-336
D. Recorded U.S. private short-term capital outflow less
foreign short-term credits to the United States (excluding foreign liquid dollar hold ings)
-786
-1,989
-601
-538
10.
Balance
E. Unrecorded transactions
-
F. Net sales of nonmarketable, medium-term, convertible
Government securities
G. Balance C+D-f-E
H. Balance C+D+E+F
r
_
-339
-893
-138
-31
-341
-509
-247
-477
702
375
122
203
50
-2,644
-2,761
-119
-661
-659
-1,322
-1,942
-2,386
-119
-539
-456
-1,272
x
Revised
*> Preliminary
Less than $500,000.
1 Excludes military transfers under grants.
2 Short-term capital movements between parent companies and their foreign affiliates are reported as part of
direct investment.
3 The data on military expenditures for the fourth quarter of 1964 are still subject to major adjustments.
4 See footnote 2 to table 4.
5 Includes portfolio fund certificates sold abroad by Export-Import Bank.
NOTE.—For reconciliation of data on Government transactions shown in this table with those shown in tables 1 and 3, see
table 4.
Table 3.—United States Balance of Payments by Area—
[Million
All Areas
Type of transaction
Line
1963
Year
III
1964
Year
IV
n.a.
1 Exports of goods and services
33,502 ,688 9,146
Goods and services transferred under
2
n.a.
1, 482 134
226
military grants, net.
Goods and services excluding transfers 32,020 ,554 8,920 36,523
3
under military grants.
Merchandise, adjusted, excluding mili- 21,989 ,205 6,121 25, 219
4
tary.
Transportation
537 2,255
5
2,078 528
Travel
_
934 288
197 1,090
6
Miscellaneous services:
Private
-394
478 1,785
1,660
7
Government, excluding military
.
254
62
233 58
8
Military transactions.
758
659 103
148
9
Income on investments:
Direct investments
3,059 643
937 3,607
10
Other private
910 226
247 1,099
11
Government
456
193
498 109
12
26,335 ,031 6,739 28,314
13 Imports of goods and services
Merchandise, adjusted, excluding military 16, 996 ,314 4,526 18, 638
14
Transportation
541 2,450
2,310 635
15
Travel
2,070 820
398 2,176
16
Miscellaneous services:
Private
424
422 110
110
17
Government excluding military
102
515
446 157
18
Military expenditures*
708 2,807
2,897 711
19
Income on investments:
Private
852
244
794 180
20
Government
452
110
400 104
21
22
23
24
25
26
27
28
29
Western Europe
Ir
1963
III'
II r
-151
-549
-226
n.a.
-496 -1, 906
-64 -281
1964
III
1963
n.a.
n.a.
8,789
9,123
8,722
6,115
6,290
5,924 6,890
503
223
577
305
588
337
587
225
981
111
252
33
248
25
1,062
157
275
49
273 15 3 5 17
3
34 (*) (*) (*) 00 (*)
424
59
193
430
65
189
430
60
168
501
70
208
658
69
543
149
18
82
196
17
118
716
72
612
169
19
141
205
18
178
925
253
94
880
275
112
823
269
123
979
302
127
507
208
178
102
52
32
118
57
102
596
256
110
102
62
30
139
72
31
6,476 7,081 7,441
4,353 4,596 4,658
665
524
664
574
335
855
7,316
5,031
597
412
n.a. 11,567 ,523 ,091
n.a.
753 76 87
n.a. n.a. n.a.
n.a. n.a. n.a.
9,889 10,814 ,447 ,004 12, 151 ,795 ,361
47
48
9,213 ,434 ,390
4,714 ,166 ,316
1,297 371 285
688 288 120
9,891 ,540 ,541
5,198 ,234 ,458
1,368 386 312
763 305 120
99
130
717
103
99
728
109
158
694
113
128
668
235
114
1,496
59
33
362
61
29
372
248
122
1,480
62
30
363
207
111
206
110
194
109
245
122
448
221
97
58
145
62
456
256
98
62
na. 2,354 89 701
n.a.
1,281 2,573 1,601 13 614
n.a. -1,189 -189 -198
n.a.
-647
-677
-436 -113 -111
-127
-135
-137
-150
-158
-305
-467
-67
-517
-549
-67
n.a.
-438
-72
n.a.
-452
-75
-753 -76 -87
-148 -36 -29
-130 -31 -33
49
50
Foreign capital (lines 44-48), net (increase in
U.S. liabilities (+)).
Direct investments in the United States _ _
696
132
251
696
110
69
174
343
476
26
127
118
19
-11
-87
116
-74
25
U.S. private short-term commercial and
brokerage liabilities.
U.S. Government liabilities associated
with specific transactions.
U.S. Government nonmarketable, medium-term, nonconvertible securities.
40
56
17
41
73
17
-26
-38
63
-14
104
29
-16
201
26
429
114
297
461
143
-54
177
195
314
-36
-55
U.S. Government nonmarketable, mediumterm-convertible securities.
Increase in short-term official and banking
liabilities and in foreign holdings of marketable U.S. Government bonds and
notes (decrease (-)).
-43 -95
29
-46 -49
105
124
44 -107
38 80
28 -54
90
175
2
192
13
1963
67
398
54
211 39
67
398
54
47 5,568 ,351 ,543
57
358
42
37 U06 981 ,110
206
3
1
1
9
"I
101
82
4
7
1
6
30 24 120 35
23 19 100 27
4
1 1
1
4 2
8
2
1
1
(*)
-163
34
67
?
189
3
18
47
1
4
54
1
4
441
314
79
79
187
86
1
00
33 4,966 ,409 ,262
27 ,710 944 997
1 124 33 31
2 522 286 86
62
17
3
64
14
5
58
202
57
K
2
—i -1
—]
—L
-13 -37
-14
-]
tx\
5
~-4 — *
] -39
-16
-9
-31
00
14
47
15
59
14
14 602 -58
14 602 -5S
-8 -29 — 7
281
281
-8
-8 -29
—7
-8
-5
-1
—7
00
-1 "-24 "-6
56
18
5 -846
4 -847
57
14
-339 -54 -111
-693 -61 -24
2
(
(*)
-15 -28 -21
23
-49 —14
40 -10
49
<,
W u
193 -27 143 •(*) '(')
U
122
203
577
175
2
375
203
t
48
1
00
00
~i
44
12
w
40
25
(x)
20
739
1,44
665
84
3
1,455
552
929
-5
303
70
-15
287
12
-6
-13
125
50
-166
50
1
14
29
2,21
375
4
25
c
-53
W
107
27
37 -3
17 -26
94 131
I
(*)
-45
143 -31 118 (*)
34
126
(z)
-27 -6
-1 -1
-56
-25
125
2
11
1 278
-10 -35 -8
-37
-I
5
00
-41 -46 -26 -6
n.a. n.a. n.a.
-91 O7 -25
-138 -37 -37
00- 372
(X)
00
1
(*}
(*}
47 5,568 ,351 ,543
12 3
1 00
43 278 19
n.a. n.a. n.a. 110
2,260 255 820 110 S 43 278 19
n.a. n.a. n.a. -37 -9 -10 -35 -8
-35
-49 -95
27
12 3
1 (*)
134 (*}
71
-392 -105 -108
IV
39
66
33
347
17
702
1,564
211
7,559 ,727 ,123 8,570 ,948 ,411 174
U.S. capital, net (increase in U.S. assets(-))- -5,964 -329 -1,710 -8,037 -1,557 -2,025 -1,573 -2,882 -1,540 112 -474 -2,297 -434 -729
Private, net
-4,307 -259 -1,301 -6,360 1 314 -1,561 -1,178 -2,307 -1,707 -139 -503 -2,092 -412 -655
Direct investments, net
_
-1,888 -145 -671 -2, 297 -453 -623 -477 -744 -887 -92 ,-242 -1, 235 -316 -277
-24
-35
New foreign securities sold in the United -1, 250 -166
-71 -581
-272 -19 -34
-85 -1,063 -127 -284
States.
18
Redemptions
35
10
8
38
38
63
23
193
54
50
195 52
34
152
Other transactions in foreign securities.24
56
13 21
40
35
3
193
94
15
87
-49
35
Other long term, net
-504 —83 -258 -626 -103 -283
-581 114 -320 -1, 279 -257 -127 -504 -391
36
Short term, net
__
_ _ - —734 99 -362 -2, 107 -625 -605 -199 -678
-70 47 -33 -383 -13 -110
37
167 251 29 -205 -22 -74
Government, net
-1,657 -70 -409 -1,677 -243 -464 -395 -575
38
Long-term capital
-2, 181 -441 -562 -2,360 -514 -693 -601 -552 -304 -54 -80 -469 -132 -122
39
121 43 28
Repayments on U.S. Government
572
130
150
148
209 66 89
144
228
643 163
40
loans, scheduled.
24
22
Repayments and sellofls, nonscheduled..
122
30
277 233
52
33
26
326 241
41
6
If
119 45
18
Foreign currency holdings and short
-11
66
-15
26 -178
75
-445 -33 -101
42
term claims, net (increase (— )).
44
45
46
1964
Year III'' IV * Fear III IV rear]CII ' IV -v Fear III
IV
30
31
32
33
43
Canada
9,094 9,640
517
305
Balance on goods and services
7,167 657 2,407 n.a. 2,618 2,559
Excluding transfers under military grants- 5,685 523 2,181 8,209 2,313 2,042
Unilateral transfers net (to foreign coun- -4,204 -787 -937
n.a. -966 -1,268
tries (-)).
Excluding military transfers.
-2,722 -653 -711 -2,736 -661 -751
Private remittances
-564 -135
Government:
Military grants of goods and services. _ r -1, 482 -134
Other grants
-1, 896 -455
Pensions and other transfers
-262 -63
Year
IV v
Eastern Europe
1
— '•
—'
—
• -64 -10 -133
-17
-80 -8
17
51 Increase (— ) in monetary reserve assets,
including' gold, convertible currencies,
and IMF gold tranche position.
378
Reduction in monetary reserve assets and
increase in liquid liabilities including U.S.
Government nonmarketable, mediumterm, convertible securities (lines 49-51).
52a Excluding increase in U.S. Government
nonmarketable, medium-term, convertible securities (lines 50 and 51).
2,644
594
15
2,76
-21
62
1,012
1,34
1,52
38
-1
1,69
67S
89
6
-27 -116
1,942
419
12
2,38
-21
50
809
1,29
95
21
-3
1,32
47
84
-6
-2 -116
Errors and omissions and transfers of funds
between foreign areas (receipts by foreign
areas (-)), net.
Memorandum items:
Increase in reported total foreign gold reI
serves and liquid dollar holdings.2
II
Through estimated net receipts from, or
payments to, the United States.3
Through other transactions.4
III
-339 -267
-16
-89
1
3
-24
-69 -1,63
16
7 -253
57
3,48
-10
1,14
1,08
1,36
17
— I1-.
57i
12
2,67
-23
99
1,31
157
44
81
12
9
4
52
53
3,48S
914
22
73f
54
j> Preliminary.
«• Revised.
n.a. Not available.
* Less than $500,000.
"The data on military expenditures for the fourth quarter of 1964 are still subject to major
adjustments.
1. Transactions with shipping companies operating under the flag of the Bahamas, Honduras, Liberia and Panama are included in "unallocated."
14
2,04
-50 -14 -1,41
42
34
-10 -11 -15
2,14
53
50
-36 -99
-2 -20
-2
2,40
65 1,14
28
31 -10
-1
2,11
33 1,24
2
-1
-
-2 -2W -1 -1
2
20
1
22
4 -369
-5
295
2. Changes in reported total gold reserves of foreign central banks and governments
(including international organizations but excluding the countries of the Soviet bloc) net
of convertible currencies held by U.S. monetary authorities, plus foreign liquid claims on
the United States plus net changes in foreign IMF positions through U.S. dollar transactions.
3. For "All areas" equals balance (with reverse sign) of line 23 (less net sales of gold by
Annual, Third and Fourth Quarters, 1963 and 1964
of Dollars]
Canada— Con.
Japan
Latin American Republics and
Other Western Hemisphere
1964
1963
Year III' IV » Yeai• III
1964
IV
6,504 1,563 1,756 6,050 1,44] 1,636
13
55
Year III'
n.a
n.a
Australia, New Zealand and
South Africa
1964
1963
IV v
Yeai• III
n.a 2,274
n.a n.a n.a
567
Other countries in Asia and Africa
IV Yeai III' IV v Year III IV Year III' IV* Year
650 2,514 582
675 1,167 260
332 1,498
1964
1963
1964
1963
380
419
III
International Institutions and
unallocated *
IV
6,347 1,427 1,745
674
55 126
1963
Line
1964
Year III' IV v Year III
IV Year III'
IV v
n.a
n.a
318
74
82
334
77
96
6,375 1,576 1,703
318
74
82
334
77
96
n.a n.a
n.a n.a
6,504 1,563 1,756 5,995 1,444 1,623
6,749 1,695 1,832 2,274
567
650 2,514 582
675 1,167 260
332 1,498
380
419
5,673 1,372 1,619
875
972
4, 217 1,039 1,179 1,811
449
522 1,980 445
532
242 1,143
298
329
3,871 947 1,095 4,190 1, 023 1,151
346
379
89
104
89
90
376
404
102
119
96
98
148
20
39
6
37
166
25
45
58
20
17
8
15
5
245
32
63
12
66
6
269
38
72
13
72
160
34
43
341
52
17
86
13
1
9^
337
57
18
82
13
4
91
\i
99
9
23
22
2
!
10
107 2(
8
16 J
32
89
00
26
21
23 28
CO 00
i
189
99
21
45
53
27
5
220
110
37
53
24
6
60 83
33
11 """II
20
23
956
156
126
214
38
24
282
40
40
1,026
191
123
250
48
38
259
54
37
8
31
6
29
150
33
10
40
6
98
27
3
9
5
1
1,261 329
72 18
178 38
295 19
21 45
52 00
3,458
2,530
130
93
884
659
35
12
4,761 1,129 1,251 3,622
36
75
5J
133
443
35
140
210
6
35
5
8
558
358
112
87
228
97
5,471 1,576 1,398 5,370 1,353 1,380
4,201 1,101 1,126 4,044 994 1,048
124 33 32 200 52 52
549 300 90 684 186 160
26
107
31
^
26
11
542 2,335 637
393 1,771 499
28 127 33
16 50 12
2
1
15 4
2
88
84 301 73
14
3
56
15
4
51
113
86
171
32
22
49
31
21
48
108
89
179
30
23
43
29
23
45
6
12
365
220
65
53
16
62
18
61
11
15
3
17
77
9
20
2
22
2
32
24
8
6
n.a. n.a. n.a. 173
1,217 367 386 173
n.a. n.a. n.a. -32
4
4
-9
94 256
1,033 -13 358 680
1,033 -13 358 625 91 243
-36 -9 -11 -455 -96 -114
-36
-9
-27
6
37
10
5,532 1,328 1,446 2,101 563
4,148 959 1,099 1,497 413
222
56 59 113 30
700 195 167 52 14
57
13
242
g
45
8
9
7
41
23
9
5
846 199
15
635 841 247 206
487 654 199 159
33 52 11 1J
18
12 3
4
73
12
6
1 00
8
105
1
1
6
3
-7 -33
-7
-6 -26 -6
-6
-55 -3 -13
-259 -68 -73
-7 -22 -5 -4
179
56 -4
18 -21
5
2
223
202
28
42
25 -13
24 -24 -11 -8
-5 62
10
19
4 -10
10 -22
-1
26
22 -14
199 3,110
148 2,226
115
13
105
3
798 201
601 148
55 13
4
13
] (*)
17
24 101
2
7
1
4
1,012 227 309
14
53 14
151 35 44
4
29
5
27
2
1
797
560
32
39
780
571
30
11
1
1
5
135 35 34
481 119 121
30
13
8
8
t
-10
-8
n.a. n.a. n.a.
-1 -1 (z)
-249 -49 -64 (*) (z) (*)
-26 -6 -7 -7 -2 -1 -6 -2
156
4
2
12
129 -10
12
7
3
5
136 -39
-5
2
4
-2 -20
3
-1
14 -27
9 -11 11
125
5 0)
5 -28 -14
3 -28 4 -26
4 -2 (*) 00
-5 10
-3
-4
-5
-2
7
8
9
i:
34
4'
12
18
10
10
11
12
633
69
405
198
15
105
155
23
101
709
89
420
204
21
106
180
27
112
13
14
15
16
1
14]
36 37
73
503 130 124 0)
56
8
111
56
20
17
18
19
920
669
36
34
10 11 15
11
i(
5 71 1*
78
19
19
^
n.a. n.a. n.a. -315 -124 -73 -375 -127 -84
2,917 656 819 -315 -124 -73 -375 -127 -84
n.a. n.a. n.a. -145 -19 -80 -140 -18 -40
40
17
-6 -1
-7
-2
-222 -54 -58
(x)
-3
00
-1 -4
-1
-1
-228 -58 -58
3 00
15
26 -34 -146 -42 -53 -1,701 -268 -622 -1,899 -410 -647 -145
18 -38 -159 -46 -56 -387
11 -258 -691 -139 -252 -70
11 -60 -132 -32 -43 -236 -27 -99 -345 -51 -139 -27
13 49
68 —11 22
116
4
00
34
1
5
7
1
29
15
2
-1
10
00
6
28 00
1
-292 -25 -128
(•)
31
4
-2
00
(*)
-2
8
(
?
8
56
-5 -11
35
-1
12
32
2
8
11
—7
1
5
-1
11
—1
(*)
12
-55
-57 -45
8 -8
-32
J
3
26
21
22
23
24
25
00
79
7
84
21
65
23
6 20
7
0 00 00 0)
56
78
45
27
28
29
31 -54
14
8
10
30
31
32
33
3
6
34
35
36
37
38
39
40
17
11 00
CO
CO C)
-37
-75
-78 ..... -65 -63
5
5
3
-2 -164
2
W
30
3
8 -10 -13
5
00
3
-38
20
21
26
-674 -55 -126
n.a. n.a. n.a.
-1,339 -330 -315 -1, 423 -342 -325 -142 -19 -77 -138 -18 -38
-73 -18 -18
-76 -19 -20
00. («)
-11
1
23
"W
12
2 10
14
3
9
1 15 5
18 3
I
6 15
3
6
10
2
-14 -7 -8 -29 -8
-1 1 -9 -10 2
3 13
3
4
7 20 -1C
14
15 00
-131 -38 -80 -120 -39 -55 -134 -22 -32 28 4 24 -41 -14 -22
-14
4 -34
-40 -36
-589 -182 -248 -463 -9 -308 -527 -40 -180 -19 -4 -11 -14 — 6 -1 -86 23 -96 -212 -41
-252 -145 -53 -53
4
5 51 21
3 32 8
4
4 _ _ _ _ 3 -1,314 -279 -364 -1,208 -271 -395
13
_
-470 -150 -94 -93 -9 -3 -18 -8 -3 00 .... ._._.
-1,144 -290 -262 -1,340 -311 -271
___ ..
188 27 70
61 12
6 65 26
7 17
122 36 26
167 39 40
94
5
-64 -26 -34 -21
5
6
-3 -1,634 -402 -391 -1,727 -419 -403 -145 -19 -80 -140 -18 -40
-9
-87 -21 -23 -25
-1,512 -229 -595 -706 -113 -202 -1,439 -439 -578 -888 -116 -364 -662 -53 -231 -82
-1,512 -226 -597 -322 -52 -184 -1,187 -294 -525 -835 -120 -369 -713 -74 -234 -114
31 -157 -259 -55 -74 -68 -15
-225 -17 -196 -220
-69 -16 -14 -111
-700 -44 -383 -36 -23
-208 -14 -125 -164
-17
302
30
8
00
21
8
45
-9 -1 -3 -11 -3
-362 -76 -94 -32
22
10
19
5
1
85
00
39
220 3,237 630 965
220 2,563 575 839
-3 -2,308 -457 -517
-4 -119 -20 -24
4
34
2 -71 -11
103
27
r
169
326 13 126 700 179
326 13 126 700 17S
-9 -1
-11
-3
-3
29
8
98
39
3
4
108 179 -55 40
108 179 -55 40
—7 -33 -9 -10
-9 -11 -400 -93 -101
2
87
8
17 22
19
o
3
17 25 -4 -2
-312 -293
15 28 24 22
-379 86 -51 -111 -89 -55
2 -384 -61 -18
-3
-562 -88 -152
215 34 102
26
00
63
23
1
2
. -62
41
42
14 00
-1
5
-1
e
54
43
4
44
45
46
50
47
48
(x)
49
-5
C)
139
102
121
102
-32
00
606
16
3
410 -29
-56
252
259
77
69
218 115
-7 -26
116
38 -12
36
4
11
10
50
195 -59
24
97
412
81
45 -139
25
5
3
1
99
-5 -77 -275 -125 -12
74
50
38
355
156 -91
51
-5
139
102
574
137
105
354 -36
226
259
77
69
218 115
166
38 -12
36
4
11
10
219 -34
102
415
82
45 -40
69 -39
80
31 -103
52
-5
139
102
574
137
105
354 -36
226
259
77
69
218 115
166
38 -12
36
4
11
10
219 -34
102
415
82
45 -40
69 -39
80
31 -103
52a
180 -76
527
49
196
318 -12
83
259
80
227
53
374 -35 222
259
77
69
233 115
97
453
88
59
144
786
126
265
185
674
162
205
218 -67
118 -135 -47 -32
204
198
138
598
132
151
213
72
220
439
90
73
126 -82
159
42
78
-9
74
428
-54 -179
150
62 -307 -33 -154 -562 -143 -182
180
187
72 -527 -49 -196 -303
12 -48
456
domestic sources to (+) or purchases from (-) the monetary gold stock of the United States)
plus lines 25, 30, 43, and 53. Domestic sales to (+) or purchases from (-) the monetary
gold stocks were in millions of dollars: 1963 III, -15; IV, -23; 19641, -19; II, -22; III, —21;
IV, -27.
35
29 -34
-2
-2
536 103 228 -269 -45 -118 -558 -132 -172
80
147
524
130
170
497
134
220 -33
716
100
-496 -133 -88
160
Kfifi.
ODD
60
165
415
8 114 -54 -142
457
-221 -74 -146 -449
114
84
76 -376
I
97
II
-157 -548 -18 -473
III
103 406
94
4. Line I minus line II for all areas represents gold obtained by foreign central banks and
governments outside the United States.
Source: U.S. Department of Commerce, Office of Business Economics.
15
16
SURVEY OF CURRENT BUSINESS
at a new high of $587 million for the
year, and a sizable amount went to
Japan. Information collected by the
Treasury on loan commitments by
banks indicated that the fourth quarter
outflow was not a development limited
to that period but could be expected to
continue, and even to rise.
Commercial enterprises added nearly
$600 million to their short-term foreign
assets in 1964, though the fourth quarter rate was smaller. Most of the outflow was for the acquisition of liquid
financial assets in Canada and Europe.
Direct investments
Capital outflows for direct investments abroad maintained a steady rate
during the first three quarters of the
year but accelerated in the last quarter.
For the entire year direct investment
reached a near-record of $2.3 billion.
Over half of the 1964 total, and most of
the increase in the flow from 1963 to
1964, went to Europe, largely to the
Common Market countries. Flows to
other areas did not change significantly
from the year before.
Most of the net outflows were concentrated in manufacturing and petroleum; investments in each of these
March 1965
major industries accounted for about through the year and topped the 1963
40 percent of the fourth quarter flow. amount by $200 million.
The capital movements in the fourth
quarter were mainly large flows of
Changes in Government
funds between U.S. parent companies
Transactions
and their existing foreign affiliates,
with only a small part due to new acU.S. Government grants and capital
quisitions of foreign companies.
outflows, which were exceptionally high
in 1963, were reduced in 1964 by $245
Income on investment
million. Part of this reduction repreU.S. income receipts from direct in- sented a $60 million sell-off in the fourth
vestment in 1964 rose by $0.5 billion to quarter to U.S. commercial banks of an
$3.6 billion. Part of the rise included Export-Import Bank loan to Venezuela.
income from African oil fields which Of this total, $45 million is scheduled to
began producing in 1964. Within the mature in more than one year, and is
year, seasonally adjusted income re- reflected in the rise in long-term bank
ceipts were high in each of the first loans; the remainder is included among
three quarters of the year but declined short-term bank loans. Venezuelan liqin the fourth. The first quarter data uid assets held in U.S. banks were
included receipts deferred from 1963 to shifted to long-term time deposits in an
take advantage of the corporate tax re- amount corresponding to the long-term
duction in 1964. The dip in the fourth part of the loan. This move reduced
quarter was in part, perhaps, due to U.S. liquid liabilities by $45 million.
U.S. military deliveries abroad rose
similar deferments into 1965. These
and other factors accounting for the by $100 million in 1964 and military
fourth quarter decline were only partly expenditures fell by nearly the same
offset by a substantial special dividend amount, so that the net effect on the
to a U.S. company from its Canadian balance of payments was favorable by
almost $200 million. The increase in
subsidiary. Income receipts from other
military sales reflected the moving out
private investments gained steadily of deliveries on earlier contracts in
CHART 9
U.S. Exports
larger volume than in 1963. Military
expenditures were reduced fairly steadily during 1964 as further attempts
were made to cut back dollar outflows
under Government programs.
Merchandise Exports 1
5
lAINLY FINISH
- 3
NONAGRICULTURAL INDUSTRIAL MATERIALS
- 2
4i
LTURAL PROI
1955
56
57
58
59
60
61
62
63
64
1963
1964
Exports expanded by 15 percent to
a record $25.2 billion in 1964, and the
U.S. net export surplus rose to $6.6
billion, the highest since the early postwar years. The $1.6 billion rise in the
net export surplus from 1963 to 1964
reflected large changes in the trade balances with Western Europe, Latin
America, and Australia and South
Africa.
In the first half of the year, U.S.
merchandise exports, adjusted to the
balance of payments basis and corrected for seasonal variation, rose only
slightly above the high rate reached in
the last quarter of 1963. In the second
half of the year, however, the rate
Quarterly, Seasonally Adjusted
U.S.
Department of Commerce, Office of Business Economics
i Merchandise trade section was written by Max Lechter.
(annual basis) was $1.8 billion higher
than in the first six months. About
one-fourth of that gain represented accelerated shipments in anticipation of
the dock strike.
From the third to the fourth quarter
of 1964, merchandise exports rose by
over $300 million, with one-third of
the advance reflecting strike-hedge
shipments.
U.S. Exports,! Agricultural and Nonagricultural, 1962-1964
(Millions of dollars)
Total
Calendar year:
1962
1963
1964
17
SURVEY OF CURRENT BUSINESS
March 1965
_
Agricul- Nonagritural
cultural
20, 576
21, 989
25 219
5,034
5,585
6 332
15, 542
16, 404
18 887
5 917
6,108
6,053
6,372
6 686
1 541
1 587
1,502
1,575
1 640
4 376
4 521
4,551
4, 797
5 046
Change from preceding
year:
1963 $ mil)
Percent)
1964 $ mil)
Percent)
+1,413
H-6. 9
+3 230
+14 7
+551
+10.9
+747
+13 4
+862
+5.5
+2 483
+15 1
Change from preceding
quarter:
1964—1
II
Ill
IV
+191
—55
+319
+314
+46
—85
+73
+65
+145
+30
+246
+249
Quarters (seasonally adjusted) :
1963— IV
1964—1
II
III
IV
1. Adjusted to a balance-of-payments basis; excludes goods
sold or transferred under military-agency programs.
NOTE.—Seasonally adjusted agricultural and nonagricul.
tural quarterly figures may not add to actual annual totals.
Two other unusual movements in the
export trade had offsetting effects on the
total. Silver exports in the fourth
quarter were exceptionally high, exceeding average quarterly outflows in the
preceding three quarters by about $60
million. An estimated loss in exports
of automotive parts of nearly the same
magnitude was apparently caused by
the automobile strikes in the fourth
quarter.
Western Europe, the largest market
area for U.S. exports, accounted for $1.0
billion of the $3.2 billion export advance
from 1963 to 1964; in the similar rise
from 1962 to 1963 the increase in exports to that area was less than $450
million. Exports to Canada rose by
over $650 million in 1964 as compared
with $215 million the previous year; the
advance raised Canada's share of the
total U.S. export gain from 15 to 20 percent. Other industrialized countries
which took a larger share of the export
rise in 1964 than in 1963 were Australia
and South Africa. Japan was the only
major industrialized market where the
1963-64 export increase fell below the
one recorded for the preceding year.
Special wheat purchases accounted for
the export rise to the Soviet Bloc in the
first half of 1964.
Exports to Latin America, which
declined during 1963 while exports to
other countries rose, advanced in 1964
by nearly $525 million, partly as a
result of increased U.S. Government
aid. Higher U.S. investments, and expanded export earnings of these countries from higher prices for certain food
and raw materials during 1964 provided
additional bases for an expansion of
their imports from this country.
Agricultural exports
Agricultural exports, at record levels
in every quarter of 1964 except the
second, reached a new annual high of
$6.3 billion. That total exceeded the
previous high mark scored in 1963 by
about $650 million, after allowance for
dock-strike distortions affecting both
years. Commercial sales, moreover,
accounted for 85 percent of the total
export increase, but that gain was
heavily concentrated in the advance
between the first half of 1963 and the
first half of 1964.
By the fourth quarter of 1964, agricultural exports were at a seasonally
adjusted annual rate of $6.6 billion.
If corrected for strike effects, this rate
is estimated to have at least matched
the previous peak rate of $6.3 billion
set in the first quarter of 1964, when
the bulk of the special grain shipments
to the USSR was made.
Total wheat exports moved moderately downward after the first quarter but this drop was more than offset
by a concurrent strong advance in
exports of animal and vegetable oils,
accompanied by gains in diary products,
meats and various animal feeds.
The pressure of rising living standards abroad has had considerable impact on the advance in U.S. exports of
oils, meats and dairy products to industrialized countries not presently
producing these commodities in adequate amounts to meet domestic requirements. Increases in sales of these
commodities to Western Europe nearly
offset the contraction in that area's
import requirement for wheat, after
the first quarter of 1964.
A step-up in PL 480 financing largely
explains the recent increased outflow
of wheat and other agricultural products to the less industrialized countries
of the world, particularly India.
Nonagricultural exports
The fourth quarter seasonally adjusted advance in exports of non-
CHART 10
U.S. Imports
INDUSTRIAL SUPPLIES AND MATERIALS
1955
56
57
58
59
60
61
62
63
64
1963
1964
Quarterly, Seasonally Adjusted
U.S.
Department of Commerce, Office of Business Economics
SURVEY OF CURRENT BUSINESS
18
Table 4.—Analysis of Major Government Transactions
[Millions of dollars]
I
Item
Calendar
year
1963 Total*
Calendar year 1964
II
I
IVp
III'
TABLE 4A.— GOVERNMENT GRANTS (EXCLUDING MILITARY AND CAPITAL OUTFLOWS
Not adjusted for seasonal variations
1
2
3
4
5
6
7
8
9
10
11
Outflows under assistance programs:
Under farm products disposal programs
______ _ _ _
Under Foreign Assistance Act and related programs
_ _ __
Under Export-Import Bank Act
Subscriptions to IDA and IDB
Other assistance programs
_
__
Foreign currency claims acquired in the collection of—
Principal
Interest
Less: Foreign currencies used for U.S. Government uses other than
grants or loans
_ _
__
Advances under Exchange Stabilization Fund agreements, net
Other, net (including changes in administrative cash holdings)
Total, Government grants and capital outflows (table 3, lines
. 28 + 39 + 42)
1,668
2,145
509
62
97
1,771
2,011
338
112
158
399
442
88
148
94
405
520
78
3]
488
529
106
50
41
28
479
520
66
62
58
87
170
23
38
18
46
22
38
24
48
231
25
5
322
-30
-18
88
-12
-15
96
-3
-3
60
-8
-10
78
-7
4,522
4,277
906
1,176
1,013
1,182
10
Adjusted for seasonal variations
Total, Government grants and capital outflows (table 1, line 1-6).
Less: Estimated transactions involving no direct dollar outflows
from the United States
-- - __ _Expenditures on merchandise in the United States
14
15
Expenditures on services in the United States
Military sales financed by credits (including short-term, net)1
16
(line C-2, below)
—_
Government creidts to repay prior Government loans1
17
Government loans to repay private credits _ _
__
18
Increase in Government liabilities associated with Government
19
grants and capital (including changes in retained accounts)
(line B-18, below)
- -20 Equals: Estimated dollar payments to foreign countries and international institutions through Government grants and capital
operations
12
13
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
4,522
4,277
928
1,103
1,098
1,148
3,635
2,720
601
3,570
2,839
581
781
637
135
911
710
145
921
756
148
957
736
153
17
170
33
-18
120
-10
28
3
17
-11
24
94
48
-9
36
4
17
707
147
192
177
191
TABLE 4B.— CHANGES IN GOVERNMENT LIABILITIES
Increase in Government liabilities associated with specific transactions (table 3, line 47)
Associated with Government grants and capital outflows
Non -interest-bearing securities issued to IDA
Non-interest-bearing securities issued to IDB
Non-interest-bearing securities issued to UN for special
programs _
«_ _
_
Foreign funds retained in Government accounts, to be used for
purchases in the United States
Other
Associated1 with military exports (advance collections less deliveries) (line C-4, below).
„>.
Associated with other Government sales and miscellaneous
Government operations _
_
__ __
Associated with purchase of Columbia River downstream power
benefits
.
Net sales [net redemptions (— )] of nonmarketable, medium-term,
nonconvertible securities (table 3, line 48) _._
Export-Import Bank Portfolio Fund Certificates of Participation
Treasury securities:
Payable in dollars
Payable in foreign currencies
Total, increase in Government liabilities other than marketable
or convertible securities
887
(x)
51
Not adjusted for seasonal variations
461
48
15
25
143
-12
43
30
36
2
-15
-7
334
195
48
37
-54
11
—22
25
177
1
-1
23
-5
13
-5
-6
-14
—1
6
-2
(x)
206
151
-64
1
3
4
—1
-43
-36
-55
-8
18
3
13
-74
-13
-20
—5
-50
-6
(x)
-2
(x)
30
386
425
88
-62
175
224
429
94
13
(x)
-28
(x)
147
(x)
204
204
29
-2
—1
-2
Adjusted for seasonal variations
16
17
18
19
20
21
22
23
Total, increase in Government liabilities other than marketable
or convertible securities (table 1, line 11-11)
Increase in Government liabilities associated with specific transactions. __
Associated with Government grants and capital outflows (line
A-19, above)
_
Associated with military exports l (line C-9, below, and table 1,
lineB-2)
Miscellaneous Government nonliquid liabilities (table 1, line
A-ll, and table 2, line B-9)
Associated with other Government sales and miscellaneous
Government operations
Associated with Columbia River transaction _
Net sales [net redemptions (— )] of nonmarketable, medium-term,
nonconvertible securities (table 1, line B-3, and table 2, line B-8).
TABLE 4C.— MILITARY CASH RECEIPTS 2
1 Exports of military goods and services (excluding military grants)
(table 3, line 9) _ .
2 Less: Military sales financed by credits (including short-term, net)
(line A-16, above)
3 Principal collections on Defense Department credits
4 Increase in liabilities associated with military exports (line B-8,
above)
5
Total, military cash receipts
0
7
8
9
Total, military cash receipts (table 2, line B-2)._. _ _ _
_
Military sales (table 1, line II-4)__ .._
Increase in indebtedness to Government for military credits (lines
C-3— C-2, above)
_
_. _
Increase in liabilities associated with military exports (line B-19,
above, and table 1, line B-2)
____
386
425
91
-37
178
193
429
461
146
-29
180
164
94
48
-9
36
4
17
334
206
151
-64
-28
147
1
207
4
-1
204
(x)
1
3
204
4
-1
(x)
204
(x)
-36
-55
-8
-2
-43
29
Not adjusted for seasonal variations
208
659
758
193
189
168
17
6
-18
2
-10
(x)
3
1
-11
1
334
982
206
984
151
354
-64
123
-28
152
147
355
Adjusted for seasonal variations
984
371
85
166
151
182
758
210
362
215
982
659
-11
20
10
-2
12
334
206
151
-64
-28
(x)
(x)
(x)
147
* Less than $500,000.
" Preliminary.
' Revised.
1. Includes estimated net accumulation of foreign currency from principal repayments recorded in line A-6.
2. The entries for the 6 quarters in fiscal years 1964 and 1965 for military transactions are estimates based upon incomplete
Source: U.S. Department of Commerce, Office of Business Economies.
March 1965
agricultural commodities (excluding
special category goods and aircraft)
was approximately equal to the corresponding rise a quarter earlier. Nonagricultural exports in the last half of
1964 were at an annual rate of about
$1.5 billion above the total for the
first six months of the year—a pronounced improvement even after allowance for the dock strike pre-shipments in the second half.
Capital equipment and industrial
materials together accounted for more
than the total nonagricultural export
gain in the fourth quarter, as autos
and parts and fertilizer declined. The
somewhat better export showing of
industrial materials than of capital
equipment in the fourth quarter may
reflect the fact that primary supplies
were more readily responsive to the
push for accelerated pre-dock strike
shipments than the machinery category.
Civilian aircraft deliveries in 1964
were higher than a year ago but at
$300 million had recovered only half
of the $80 million export loss of 196263. A further improvement in U.S.
aircraft exports is expected for the
current year which will bring foreign
deliveries above the 1962 level but
still well below the $550 million peak
of 1960.
In comparing the figures for the
last three calendar years, the sharp
upswing in capital equipment exports
(excluding special category and aircraft) in 1964 is particularly noteworthy. This category, predominantly
machinery, scored an increase of about
$900 million from 1963 to 1964 as
compared with a gain of little more than
$200 million between 1962 and 1963.
The 1963-64 advance of some $950
million in exports of nonagricultural
industrial materials, on the other hand,
was much closer to the $550 million
gain in 1962-63.
Total nonagricultural exports to Canada (excluding special category and
aircraft) advanced by $175 million
between 1962 and 1963, and by $620
million between 1963 and 1964. Shipments of capital equipment have been
most important in the gains. Some of
the strengthen these sales to Canada
may reflect pressures on Canadian
manufacturing capacity, caused by the
sustained economic upsurge there. The
March 1965
19
SURVEY OF CUEEENT BUSINESS
year-to-year changes also included
higher shipments of automobiles and
parts.
Nonagricultural exports to Western
Europe advanced by about $750 million
between 1963 and 1964, or by 40 percent
more than the advance of $530 million
the year before. A large part of the
increase in 1964 was in industrial
supplies and materials, particularly
chemicals and metals, to meet the
constantly expanding needs of growing
European industry. Part of the rise
in U.S. sales may also be attributed
to an improvement in the U.S. competitive position. For the past 5
years, U.S. nonfarm wholesale prices
have remained fairly stable, while
European wholesale prices have increased about 10 percent, and during
1964 alone, by approximately 3 percent.
Nonagricultural exports to Japan
were only moderately higher in 1964,
and may have been affected by Japanese policies to hold internal demand
within the limits of domestic production
and net foreign exchange earnings.
Higher foreign exchange earnings by
Latin America, Australia and South
Africa stimulated the greatly expanded
flow of exports to those countries.
Shipments to less-developed areas outside the Western Hemisphere, however,
rose less in the more recent period
than in 1962-63.
-.-•-.'CHART: j
U.S. Transactions With Major Areas
PAYMENTS
RECEIPTS
Billions of Dollars
12
CHANGES iN^QRtoGQU) AND.DOLLAR
H0kBjN£S;;$};NCE: THE END QF $59BtlfiOttS ,of Dbjktrs
"
Continental W. Europe
Govt. Grants &
Capital Outflow..
10
Merchandise Imports
Merchandise imports in the fourth
quarter of 1964 rose to a new peak of
$4.9 billion, after adjustment for seasonal variation, the seventh successive
quarterly advance. The $185 million
gain over the July-September period,
however, may include more than $100
million which can be attributed to
special factors.
Although past experience indicates
that labor disturbances at the ports
have had a much milder effect on imports than on exports, an estimated $60
to $70 million of the $185 million increase in the last three months of the
year is believed to represent precautionary shipments from abroad in
anticipation of a dock strike after the
expiration date of the Taft-Hartley
1960
61
62
63
64
1960
61
62
63
64
^Repayments on Government loans and investments in non-liquid U.S. Government Obligations;:
U.S. Department of Commerce, Office of Business Economics
' •", ''" '•
SURVEY OF CURRENT BUSINESS
20
March 1965
cooling-off period. The accelerated preceding five quarters, corrected for
arrivals included mainly tobacco, alco- the usual seasonal influences, had
holic beverages, and passenger cars.
hardly wavered from the high quarterly
Imports of steel mill products rose by average rate attained after mid-1963.
about $30 million as domestic demand
An additional special feature affecting
increased, partly to expand inventories fourth quarter imports was the steep
in anticipation of the May 1965 labor rise of $80 million in the value of coffee
contract deadline. Steel imports in the imports, which followed an unusually
large contraction in the preceding
quarter. Part of the increase may have
been in compensation for a lag in coffee
arrivals during the January-September
period. For 1964 as a whole the quantity of coffee imports was below the
totals for the preceding two years, but
with prices in 1964 sharply higher the
value of coffee imports rose $240
million over 1963.
Table 5.—Movements of U.S. Capital Reported by Banks and Nonfinancial Concerns
Annual import trends
[MiUions of dollars]
Amount
outstanding end
of Dec.
1964
Changes 1 (decreases (— ))
Calendar
year
1963
Total "other" long-term capital outflow (table 3, line 36, p. 14)
Seasonally adjusted
__
Total reported by U.S. banks
Seasonally adjusted
1964
1963
1964 »
I
II
I
IV
III
II
III'
IV 9
5,058
4
Total short-term capital outflow (table
3 line 37). _.
Seasonally adjusted (table Inline
1-1^]
19
59
128
98
134
114
320
290
257
277
127
157
504
509
391
336
2739
942
-27
18
178
148
116
186
2472
44*
245
£65
71
101
240
245
386
331
1,087 2-158
4337
46
46
-50
-50
2 2-152
-2 -152
12
12
56
56
4264
264
5
5
734
2,107
-61
532
-99
362
625
605
199
678
-86
Total reported by nonfinancial concerns 3
Seasonally adjusted-
1,279
3,971
_.
581
562
-4
212
610
555
•404
538
1,528
-77
-62
402
492
-74
41
491
271
409
449
531
461
-84
176
672
44*
10,263
Total reported by U.S. banks 6
Seasonally adjusted
7,416
1,573
319
525
729
By type:
Commerical and financial
claims payable in dollars __
Loans..
«
Acceptance credit
Collections outstanding
Other dollar claims
Foreign currency deposits and
claims..
__ _
Other countries, total
Japan...
Latin American Republics
Other. _ _ _ _ _ _ _ _
61
4
-28
85
282
82
109
91
-46
-24
-43
21
207
-9
108
108
-177
7
-84
-100
77
30
-9
56
59
-39
23
75
346
148
56
142
-285
-56
-49
-180
162
29
79
54
1,082
444
99
173
366
36
-65
na
27
na
242
95
18
35
94
-28
-59
na
2
na
97
-2
na
(*)
na
-82
-39
11
13
-67
49
35
-15
12
17
18
36
6
23
-47
219
50
3
-2
168
-153
-27
-7
2
-121
158
36
16
12
94
491
Major financial centers, total-United Kingdom
EEC and Switzerland
Canada
742
25
40
-18
110
-95
28
41
127
-132
195
120
38
37
103
19
89
-5
414
281
42
91
350
228
57
65
185
70
77
38
201
24
124
53
510
160
210
140
195
97
407
348
164
196
516
6
7
2
21
5
-6
4
5,843
2,653
2,059
1,131
681
431
97
153
1,246
482
468
296
-31
11
-72
30
By type:
Commercial and financial
claims payable in dollars
Foreign currency deposits and
claims
5,728
662
1,224
-37
115
19
22
6
Total reported by nonfinancial concerns
Seasonally adjusted
2, 847
-8
579
16
86
130
70
-25
-45
-129
-69
216
161
74
94
283
228
6
96
2,753
1,667
288
370
1,009
-31
-120
-15
5
-110
592
376
51
39
286
16
-9
-46
•(•)
37
118
97
5
4
88
-25
-13
18
(•)
-31
-140
-195
8
1
-204
216
188
6
3
179
68
17
27
-21
11
283
205
124
-13
94
25
-34
-106
70
2
-185
Claims of commercial enterprises 3.
Major financial centers, total
United Kingdom
EEC and Switzerland
Canada
(•)
Claims payable in dollars
Foreign currency deposits and
claims .._
n.a.
-82
n.a.
21
116
-34
119
63
149
n.a.
n.a.
-38
n.a.
-30
-19
21
-10
69
-46
56
n.a.
Other countries, total
Claims payable in dollars
Foreign currency deposits and
claims
1,086
n.a.
89
94
216
n.a.
25
24
21
3
-12
-13
55
80
28
-13
51
48
78
70
59
n.a.
n.a.
-5
n.a.
1
18
1
-25
41
3
8
94
23
-13
Claims of brokerage concerns
_
12
11
6
n.a.
-19
' Revised.
* Preliminary.
n.a. Not available.
* Less than $500,000.
1. Changes adjusted for variations in coverage and therefore do not necessarily correspond to changes computed from
reported amounts outstanding.
2. The figures for the fourth quarter and the year 1963 reflect a transfer of about $150 million in outstanding credits from a
non-financial concern to U.S. banks.
3. Fourth quarter 1964 estimated on the basis of partial preliminary reports; amount outstanding at the end of December
1964 estimated on the basis of figures for the end of September 1964 plus the preliminary data on movements during the fourth
quarter of 1964.
4. Includes $254 million loaned to Canada in connection with Columbia River power development.
5. Excludes Exchange Stabilization Fund holdings.
The $18.6 billion total for merchandise imports for the full calendar year
represented a new high. The rise of
about $1,650 million above 1963 was
nearly double the 1962-63 advance and
about equal to the pronounced gain in
1962 over the cyclically low value in
1961.
In dollar terms, industrial supplies
and materials accounted for $750 million, or 45 percent of the total 1964 gain,
and finished goods contributed most of
the remainder. The total value of food
and beverage imports registered only a
mild upturn in 1964, which reflected
primarily the steep 13 percent jump in
1964 coffee prices.
Changes in Area Balances
Although the overall U.S. balance on
regular types of transactions improved
somewhat in 1964, there was some deterioration in the balances with Western
Europe, Latin America, and less-developed African and Asian countries. In
transactions with Australia, New Zealand and South Africa as a group, and
with Japan and with Canada, however,
some improvement occurred.
As shown in the following tabulation,
the adverse change in the balance with
Western Europe exclusive of the United
Kingdom resulted from the large increase in the outflow of U.S. capital,
together with a decline in the inflow of
European capital. Those changes more
than offset the favorable balance on
goods and services, which rose by $285
million, mainly because of the strong
advance in U.S. exports.
The U.S. balance on transactions with
the United Kingdom fluctuated sharply
during the year, although on an annual
basis there was no change from 1963 to
SURVEY OF CURRENT BUSINESS
March 1965
1964. As with other European countries, the merchandise export rise in
1964 was offset by larger U.S. capital
outflows and reduced capital inflows.
The shifts in short-term capital out-
in the second and third quarters and
then reversed their movement in the
fourth quarter, the balance showed a
much more favorable position for the
United States in 1964. This was due
mainly to transactions during the first
three quarters of the year. During the
fourth quarter the difference from a year
earlier narrowed considerably, but without the postponement of the annual
service on the British loan, it would
have been $138 million larger.
The improvement in our balances
in 1964 with Australia, New Zealand,
and South Africa, as a group, and with
Canada, resulted largely from substantial gains in our net merchandise export surpluses with those areas. The
more favorable balance with Japan in
1964 stemmed mainly from reduced
capital outflows there. The decline in
new Japanese security issues purchased
in this country because of the dampen-
U.S. Transactions with Western Europe, Excluding United
Kingdom
[Millions of dollars]
Calendar year
1963
Exports of goods and
services
Imports of goods and
services
1964
OctoberDecember
1963
1964
8,732
9,601
2,331
2,606
7,160
7,744
1,866
1,985
1,572
1,857
465
621
Unilateral transfers, net__ -395
-346
U.S. capital, net
-1, 385 -1,976
Foreign capital, excluding liquid funds, net__213
83
-98
-458
-94
-802
Balance
Total balance
5
106
-382
107
15
-168
flows were especially marked. Exclusive of such volatile flows, which moved
in heavy volume to the United Kingdom
21
ing effect of the interest equalization
tax more than offset increased bank
and other lending to Japan last year.
Our net merchandise export surplus
with Japan shrank as our imports from
that country rose more rapidly than
our exports.
The deterioration in the U.S. balance
with the less-developed countries reflected increased U.S. capital flows and
U.S. Transactions with the United Kingdom
[Millions of dollars]
Calendar year
[Millions of dollars]
Amount
outstanding end
of Dec.
1964
Changes during period
Calendar
year
1964
1963
1963
1964 TO
I
II
III
I
IV
I. Total (decrease-) (line 50, p. 14) i_
27,808
1,564
2,215
323
917
192
132
-166
II. By foreign holders:
1. Foreign central banks and
governments, total
a. As reported by U.S. banks
b. Other
2. International
Monetary
Fund* _ _ _ _ _
14,348
13, 223
1,125
970
504
466
698
756
-58
-74
-178
104
773
592
181
145
15
130
126
75
51
-399
-452
53
438
1,415
386
75
-31
-246
-65
-46
-15
2
3. Foreign commercial banks .
4. Other international and regional institutions _
_
5. Other foreigners and undetermined... _
III. By type of liabilities:
1. Deposits in U.S. banks
2. U.S. Government obligations:
a. Bills and certificates payable in dollars
b. Bonds and notes (marketable)-..
c. Nonmarketable certificates payable in foreign
currencies __ _
3. Bankers acceptances, commerical paper, time deposit certificates, and
other liabilities
4. Other banking liabilities
payable in foreign currencies _ _
r
II
IIP-
IV"
201
739
1,441
92
87
5
186
249
-63
819
872
-53
570
481
800
7,099
1,717
-238
8
-112
284
80
-85
-25
-139
3
3,844
394
348
76
115
93
110
34
54
i22
138
13, 426
1,131
1,718
428
451
56
196
308
4
582
824
8,799
2,405
-641
109
671
-338
-422
-18
-30
3,066
412
748
112
9
8
212
-153
-278
-582
-167
-76
339
-195
519
-65
189
240
215
88
-23
128
-25
30
31
92
100
132
429
4
183
6
7
-4
-22
11
9
10
-2
-30
Kevised.
* Preliminary.
* Less than $500,000.
1. Excludes dollar holdings of the IMF except for those acquired by the IMF through gold sales to the U.S. with the option
to reverse the transactions. These transactions amounted to $200 million in 1956, $300 million in 1959 and $300 million in!960.
Other dollar assets of the IMF at the end of December 1964 were $3,356 million.
•2. Includes banking liabilities to foreign official institutions held through foreign branches of U.S. banks and foreign commercial banks.
1964
1963
Exports of goods and
services
Imports of goods and
services Balance
Unilateral transfers, net—
U S capital, net
Short-term, net
Foreign capital, net, excluding liquid funds...
Total balance
Table 6.—Changes in Short-Term Official and Banking Liabilities and in Foreign Holdings
of Marketable U.S. Government Bonds and Notes
OctoberDecember
Excluding U.S.
short-term capital
1964
2,082
2,550
673
755
2,053
2,147
524
556
29
403
149
199
-41
-46
-321
-155
(11) (-129)
-13
-16
(-35)
-14
73
(80)
263
60
18
11
96
96
138
269
85
225
173
189
1963
Government grants, which were not
fully offset by the rise in the U.S.
export surplus.
Through transactions with both the
United States and other countries,
official monetary reserves and liquid
dollar holdings of Western Europe exclusive of the United Kingdom rose by
$3.0 billion in 1964.
PROGRAM TO IMPROVE
BALANCE OF PAYMENTS
THE deterioration in the U.S. balance
of payments in the fourth quarter of
1964 and the less than desired improvement in the balance for the year as a
whole led to the formulation of new
measures to reduce the deficit and to
further strengthen the dollar in international markets.
On February 10, 1965 the President
sent to Congress a message setting forth
his balance of payments program. It
is designed to attain improvement in
the balance of payments primarily
through the cooperation of U.S. financial
and industrial enterprises.
22
SUEVEY OF CURRENT BUSINESS
CHART 12
Principal Elements in Balance of Payments Program
Billion $
US, PRIVATE CAPITAL OUTFLOW, NET
Total
Reduction of private capital outflows
through voluntary business and
bankmg cooperation and through
extension of interest equalization tax
J
*
2
o
Other,; Foreign Assets of Nonfinaneial Concerns . , :
-1
Net Purchases^of Foreign; Securities -.-.
; v.
;
1955
57
'Banking!
59
61
63
65
Military Expenditures
Further cutback in cost of
defense and aid programs abroad
Gov't. Grants & Capital Outflow
Narrowing of the payments gap
through increased travel in the U.S.
and legislation to reduce
duty-free exemption on
goods purchased abroad
Attraction of more investment from
abroad through new tax incentives
March 1965
The President's program, includes:
(1) Legislation to extend the Interest
Equalization Tax Act to December 31,
1967, two years beyond its present
expiration date, and to broaden coverage
of the tax, retroactive to February 10,
1965, to include nonbank credit with
maturities of one year and over.
(2) Immediate action under the authority provided by the Gore Amendment to the Act to apply the interest
equalization tax to bank loans with
maturities of one to three years.
(3) Voluntary restraints by the financial communit3r to limit outflow of
capital, under the guidance of the
Federal Reserve System and the
Treasury Department, with legislation
to provide immunity from anti-trust
laws for banks to the extent it is
necessary to make this program
effective.
(4) Extraordinary effort by U.S.
industrial enterprises to improve the
balance on their foreign transactions,
primarily under the guidance of the
Department of Commerce.
(5) Additional cutbacks in overseas
dollar costs of U.S. defense and aid
operations. s
(6) Legislation to reduce the dutyfree allowance of tourists from $100
measured at wholesale values to $50
measured at retail values; strengthening
the "See the U.S.A. program," directing
it to both American and foreign tourists.
(7) Legislation to remove tax deterrents to foreign investment in U.S. corporate securities in order to increase
foreign investment in the United States.
(8) A more vigorous export promotion drive, and a further strengthening
of the international competitive position of the United States by maintaining stable prices and wages.
To further reduce dollar outflows
under the aid program, the Administrator of AID will continue to substitute, in so far as possible, U.S. goods
and services for direct dollar aid. The
Secretary of Defense will make further
efforts to streamline overseas operations
and to increase sales of military equipment to foreign defense partners.
Implementation of program
1955
57
59
61
includes passenger fares
U.S. Department of Commerce, Office of Business Economics
63
65
Both the Federal Reserve Board and
the Department of Commerce have
March 1965
issued guidelines for the voluntary
program set forth by the President.
The Federal Reserve Board has requested that each U.S. bank voluntarily
limit foreign credits, unless they .were
guaranteed or arranged by the ExportImport Bank, so that at the end of
March 1966 the amount outstanding
will be no more than 5 percent greater
than their level at the end of 1964.
Dollar loans of foreign branches of U.S.
banks are to be included within the 5
percent limit. Within that total, priority is to be given first to export credits,
and then to loans to less-developed
countries. Special care is also to be
exercised to avoid cutbacks in credits
to Japan and Canada, which are heavily
dependent on U.S. finance, and to the
United Kingdom, which has recently
gone through a difficult period in its
balance of payments. In 1964 foreign
assets reported by banks had advanced
by nearly $2.5 billion. (Not all of this
amount represents the banks7 own
funds, however.) The 5 percent guideline for maximum expansion in 1965
would permit a net outflow of about
$0.5 billion. This would represent an
appreciable improvement from the preceding year.
The Federal Reserve Board has also
requested institutional lenders and investors other than banks to limit foreign investment. The amounts outstanding abroad are to be limited to a
growth of 5 percent in 1965, the same
goal set for banks. Deposits and other
liquid funds placed abroad are not to
exceed the level at the end of 1964, and
during 1965 attempts are to be made to
reduce them to the 1963 yearend level.
The Secretary of Commerce has asked
that U.S. industrial concerns limit deposits and other liquid funds placed
abroad, and wherever possible, without
causing undue strain on countries subject to balance of payments problems,
to repatriate such funds rapidly.
Each industrial concern has also been
requested by the Secretary of Commerce
to make special efforts to improve its
individual balance of payments on
certain of its foreign transactions in
1965 as compared with its actual
performance in 1964. The program
provides for great flexibility, leaving the
choice of methods to improve the
balance of selected foreign transactions
SURVEY OF CUREENT BUSINESS
to the executive of each of the cooperating enterprises. The selected transactions include (1) receipts from exports
to all countries; (2) receipts from fees,
royalties and income on direct and
other investment from developed countries other than Canada; and (3) outflows of capital through direct or other
long-term investments to developed
countries other than Canada. The
Secretary has suggested that care be
taken to minimize balance-of-payments
effects of large investments. Preference by the companies might be given
to those investments which can be
financed by borrowing in foreign countries or will result in quick return flows
of funds through higher exports or
investment earnings. Where appropriate to the company and the host
country, the balance could also be
improved by local sales of equity
interests in American subsidiaries. The
program is not to inhibit investments
of U.S. companies in less-developed
countries.
Methodological Note
Balance of Payments Adjustments to
Merchandise Trade Data as Recorded
by Bureau of the Census
JMillions of dollars]
1962
1963
1964
EXPORTS
Recorded exports, excluding military
grant-aid
20, 945 22, 287 25, 522
Exports, adjusted to balance of payments basis —
20, 576 21, 989 25, 219
Adjustments (net) to recorded exports
-369 -298 -303
Additions to recorded exports __
Silver
Personal remittances in kind
Other, incl. electrical energy _
114
14
51
49
Deductions from recorded exports *___ -530
149
42
44
63
-516
212
144
45
23
-455
Special adjustments for timing and
valuation (net)
47
69 -60
IMPORTS
Recorded general imports
„_
16,389 17, 151 18,698
Imports, adjusted to balance of payments basis
__. __ _
16, 134 16, 996 18, 638
Adjustments (net) to recorded imports
.
-255 -155
-60
Additions to recorded imports
Silver
Gold, nonmonetary imports and
net domestic consumption _
Other, incl. electrical energy _
150
73
157
71
173
66
70
7
79
7
100
7
Deductions from recorded imports.. __ -437 -346 -242
Nuclear material imports of Government agencies -259 -193 -111
Other imports (mostly military) of
Government agencies
__ -170 -144 -124
-9
Other
-8
-7
Special adjustments for timing and
2
34
32
valuation (net)
9
1. Includes principally Government sales and transfers
of military goods; also includes exposed motion-picture
film for rental, trade with the Canal Zone, and U.S. grains
exported for storage in Canada.
2. Includes adjustments for undervaluation of bananas
as follows: 1962 (+$54 million); 1963 (+$34 million); 1964
(Jan.-May), (+$9 million); after May, recorded data were
properly valued.
Source: Office of Business Economics, Balance of Payments Division.
23
Manufacturers9 Sales and Inventory Expectations
(Continued from page 4)
"about right" category at yearend.
This ratio has shown little change in
3 years.
Metal fabricators have reported a
steady decline in their "high" ratio,
from 19 percent in March 1964 to 16
percent in December. Primary metals
producers continue to view their stocks
as satisfactory, with only 7 to 8 percent
of stocks considered to be in the "high"
category during 1964.
Most nondurable goods producers'
stocks—87 percent—were considered
"about right" on December 31, 1964.
Nine percent of such stocks were
classified as "high" at the yearend,
matching the relatively low June ratio.
In the year and a half prior to June
1964 the "high" ratio had ranged from
10 percent to 14 percent. Most major
soft goods industries showed a decline
in the "high" percentage during 1964.
The stock-sales ratio of firms which
judged their inventories "high" as of
December 31 was 2.2 on that date, as
compared with a ratio of 1.6 for firms
with "about right" inventories. For
the durable goods manufacturers,
"high" inventory firms reported a
stock-sales ratio of 2.3; firms in the
"about right" group reported a ratio of
1.9. The nondurable goods manufacturers in the "high" group had a
ratio of 1.9, well above the 1.3 for the
"about right" group. The small number of firms in the "low" category did
not yield meaningful results.
As can be seen in table 2, there were
only minor shifts between September
30 and December 31 of last year in the
evaluations of inventory condition by
manufacturers as a whole. When these
shifts are examined on a company
basis, however, it is found that about
17 percent of the reporting panel of
companies changed their classification
between these periods. More than
half of these firms shifted their classification from an unbalanced position
(mostly "high") on September 30 to
"about right'' on December 31. Almost
45 percent shifted the opposite way,
from "about right" to an unbalanced
position; two-thirds of these moved to
the "high" category. Shifts between
"low" and "high" were negligible.
by JOEL POPKIN
The Relationship Between New Orders and Shipments:
An Analysis of the Machinery and Equipment Industries
_l_ HE purpose of this article is to
examine the relationship between new
orders and the shipments which they
subsequently generate.1 It presents an
economic model that incorporates a
lag between orders and shipments that
varies in length over the course of the
business cycle. This type of model
differs from those based on fixed lags,
which have been used more widely in
economic analysis. The nature of the
variable lag is explained later in the
article.
The present study of new orders and
shipments is confined to a market
classification—machinery and equipment—which cuts across industry lines.
The machinery and equipment classification, a category of the new Census
Bureau series, comprises certain parts
of the electrical and nonelectrical machinery and transportation equipment
industries.2
Although this article does not deal
with fundamental determinants of investment in equipment, an examination of the orders-shipments relationship
considered here can help serve another
important purpose. That purpose is
to provide an explanation of the behavior of producers' durable equipment
expenditures, a component of gross
1. Three other studies to which the reader can usefully
refer are: Victor Zarnowitz, "The Timing of Manufacturers'
Orders During Business Cycles," Business Cycle Indicators,
Goeffrey Moore, Editor (Princeton: Princeton University
Press, 1961), Vol. I, pages 420-513; Machinery and Allied
Products Institute, Capital Goods Review, Nos. 35,42, and 57,
August 1958, July 1960, and March 1964; and Walter W.
Jacobs and Genevieve B. Wimsatt, "An Approach to
Orders Analysis," SURVEY or CURRENT BUSINESS, December 1949, pages 18-24.
2. Specifically the classification is composed of machinery,
except electrical (excluding farm machinery and equipment
and machine shops); electrical machinery (excluding household appliances, communication equipment and electronic
components); shipbuilding and repairing, and railroads
and streetcar equipment. Data from October 1963 onward are published in Bureau of the Census, "Manufacturers' Shipments, Inventories, and Orders." Data for
previous months were supplied on request by the Census
Bureau.
24
national product and a key variable in
the prediction of the future course of
overall business activity. Once the
length of time by which new orders lead
shipments has been extablished, the
analyst should be better able to judge
the time period which must be examined
in order to find the factors that influence the placement of orders, such as
anticipated profits and sales, and the
utilization of capacity. If these factors
can be uncovered, it should then be
possible to complete the chain from the
investment determinants through the
new orders link to the actual investment
expenditures.
Though estimated separately and by
different methods, the producers durable equipment expenditures and the
machinery and equipment shipments
series overlap substantially. However,
the two series differ in coverage in some
important respects. Producers' durable equipment includes investment in
cars and trucks, a cyclically sensitive
expenditure which is not part of the
machinery and equipment series. Unlike producers' durables, shipments
CHART 13
New Orders and Shipments of Machinery and Equipment Industries
Billions of 1957-59 Dollars
4.00
3.60
3.20
2.80
2.40
2.00
1.60
1953
55
56
57
58
59
60
Monthly, Seasonally Adjusted
U.S.
Department of Commerce, Office of Business Economics
61
62
63
64
March 1965
include exports but exclude imports of
machinery and equipment. Despite
these differences, the two series have
generally moved similarly in the postwar period, so that a link between them
should not be difficult to establish.
An examination of the new orders9
lead
SUEVEY OF CUKEENT BUSINESS
crisis, is not considered a peak. On
this assumption, shipments reached
their peak 6 months later, in December
1956. It is difficult to select the new
orders peak in 1960 because of the
irregular behavior of the series in 1959,
when a major strike occurred in the
steel industry. Since many of the
effects of the strike were probably
worked out by the end of 1959, December of that year could be considered the
peak month. Shipments peaked out in
July 1960, 7 months later.
At troughs, the lead of new orders
over shipments has diminished. In the
1953-54 recession new orders bottomed
out in March 1954, 7 months before
shipments. This lead was 5 months
in the 1957-58 recession: new orders
reached a low in February 1958, shipments in July of the same year. In
the 1960-61 recession new orders were
at a trough in November 1960 while
shipments bottomed out 4 months later.
The leadtimes actually observed can
be decomposed into two parts. The
first is the actual worktime required to
fill an order. Changes in this component of the total lead appear to depend
on technological improvements, e.g.,
faster machines, and therefore should
Monthly seasonally adjusted data on
new orders and shipments of machinery
and equipment from 1953 through 1964
are found in chart 13. The data have
been deflated by the BLS wholesale
price index for machinery and equipment since constant dollar series are
required later in the analysis. This
index differs somewhat in coverage
from the orders and shipments series
but is the most applicable price index
published. From a study of the chart,
three observations appear relevant.
First, the amplitude of the fluctuations
in the new orders series is greater than
that in shipments. The mean absolute
monthly change in new orders is roughly
twice that of shipments. Second, major
directional changes in the new orders
series occur before those in the shipments series. Third, new orders seem to
fluctuate more erratically than shipments.
None of these observations are surprising. When the economy is contracting, decreases in new orders are
CHART 14
not fully transmitted to shipments
since unfilled orders act as a buffer in
Ratio of Unfilled Orders to Shipments
providing a basis for shipments. When
of Machinery and Equipment Industries
the economy is expanding, new orders
rise more than shipments. This slower
advance in shipments may be attributable either to the desire of manufacturers to smooth production or to
the limitations of capacity. In either
case, unfilled orders again act as a
buffer.
The lead of new orders over shipments, observable from the first chart,
has varied in length between 4 and 7
months for both peaks and troughs.
The new orders series peaked out in
January 1953, 4 months before shipi.oo
ments. The exact peak in orders in
1956 is less clearly discernible. It
•HCktoUHWV^
appears to have taken place in June, if
1953
55
57
59
61
63
the sharp increase in orders in the last
Quarterly, based on seasonally adjusted 1957-59 dollars
2 months of 1956, due to the Suez
U.S. Department of Commerce, Office of Business Economics
65-3-14
25
be long run in character. Another factor, difficult to assess without detailed
study, which could cause a change in
average worktime, would be a shift in
the product-mix comprising orders and
shipments. The second part of leadtime
is that spanning the period between receipt of an order and the start of production on it. This part of the leadtime
depends on demand conditions relative
to capacity. It tends to be subject to
wide cyclical variation but may also
change over the long run. When orders
are placed at a high rate in relation to
capacity or desired levels of operation,
backlogs build up. This buildup tends
to lengthen the time it takes before work
is begun on orders received subsequently. When backlogs fall, work on
incoming orders begins more quickly.
The apparent shortening of leadtime
at the trough of the cycle suggests the
possibility that the actual worktime required to fill an order, one part of the
orders' leadtime, may have become
shorter due to improved technology or
changed product-mix. Such a hypothesis is based on the assumption that at
troughs, because of the decline in business activity and new and unfilled
orders, leadtimes between receipt of
orders and the start of production are
short. On this assumption, changes in
the actual worktime required to fill an
order can be detected with greatest
certainty at that phase of the cycle.
Unfilled orders-shipments
lower
ratio
It was noted earlier that unfilled
orders act as a buffer between changes
in orders and shipments. The extent
to which backlogs act as a buffer depends on their size relative to shipments. In chart 14 the ratios of
deflated unfilled orders to deflated shipments are presented quarterly from
1953 through 1964.3 A downward
3. The proper deflation of any stock variable, such as
unfilled orders, requires that the various vintages comprising
the variable be separated and individually deflated. Since
the information needed to make the decomposition of unfilled
orders is one of the objects of the study itself, such information was not available beforehand. Therefore, the method
of deflation used was to divide unfilled orders by the average
value of the BLS wholesale price index for machinery and
equipment for the 6 months ending with the date on which
each observation on unfilled orders was taken. A 6-month
average was used, since the lead of new orders over shipments
has rarely exceeded 6 months. Of course, use of the average
implies that unfilled orders comprise equal amounts of new
orders of the preceding 6 months.
26
movement is visible in the ratio over
the period, particularly in the early
years. Three peaks, preceding three
business cycle peaks, appear in the
series. These are the first quarter of
1953, prior to the 1953-54 recession;
the first quarter of 1956, prior to the
1957-58 recession; and the fourth
quarter of 1959, prior to the 1960-61
recession.4 If these peaks in the ratio,
together with the last observation
(1964-IV), are used to divide the entire
period into three subperiods, the decline
in the ratio can be studied more closely.
Each subperiod roughly encompasses
a cycle, so that the ratios for each tend
to reflect secular change. Between the
first and second peak (1953-1 through
1956-1) the average ratio of unfilled
orders to shipments was 1.54, that is
unfilled orders averaged about one and
one-half quarters, of quarterly shipments. Between the second and third
peak (1956-11 through 1959-IV), the
average ratio was 1.33, a decline of 14
percent from the preceding subperiod.
During the final subperiod (1960-1
through 1964-IV) the average ratio fell
further to 1.12, a decline of 16 percent
from the, second subperiod, and 27
percent from the first.
Considered by itself, the decline in
the ratio could be interpreted as an
indication that the abnormal demand
conditions of the Korean War period
and the subsequent capital goods boom
had ended. Or that productive capacity had risen enough so that work on
orders could commence sooner and
backlogs could be reduced. (The 195557 capital goods boom did add substantially to capacity in most
industries.) Thus, the decline in the
ratio could reflect solely a reduction in
the first part of the orders lead—the
time between the placement of an order
and the commencement of the work.
Certainly part—perhaps the major
part—of the decline in the ratio can be
attributed to such a reduction. However, the earlier finding that the lag at
troughs is shortening does suggest that
the worktime required to fill orders, on
the average, may have fallen as well.
4. The unfilled orders-shipments ratio may have reached
a peak prior to the first quarter of 1953 but data are not
available for the period before 1953. However, even if the
peak occurred earlier, the conclusions to be drawn about the
ratio would not be altered.
SUEVEY OF CURRENT BUSINESS
March 1965
A Model Explaining the Orders-Shipments Relationship
THE foregoing analysis can be used to
develop a model reflecting the relationship between new orders and shipments.
Estimation of the parameters of this
model ideally will yield coefficients
which can be used to quantify the nature
of the relationship. Once this is accomplished, the model may be tested
to see how well it forecasts shipments.
In order to understand the structural
relationship "between orders and shipments and to predict shipments a model
is required in which the coefficients can
vary. The model should also incorporate coefficients which behave in such
a way as to insure that exactly all of
the new orders of a time period ultimately are manifested in shipments.
The remainder of this article will be
devoted to the development and estimation of such a model and to the
analysis of the results obtained.
In any time period shipments may
be viewed as the weighted sum of the
new orders received in past periods,
Symbolically this can be stated as
(1)
could be filled during 1 month. In
that case, both a^_4 and at_5 would
equal one.
If oj^_ 4 were 0.5 in the case just discussed, this would be interpreted as
meaning that 50 percent of the orders
received 4 months earlier were filled
in the current month. Assuming that
the 50 percent of orders of "£-4"
filled in "t". were the only orders of
"Z-4" which had been filled, then 50
percent would remain to be filled.
Thus, in "J+l" the value of a^_ 4 cannot exceed 0.5. Since eventually all
of a period's orders must be shipped,
the sum of the various coefficients of
the orders of each period must add to
one.5 An illustrative example of this
appears in table 1.
Table I.—An Example of a Pattern of Shipments Arising from New Orders of 100
Units Placed in Time Period "t"
Time period
Quantity of
new orders
placed in
"t" and Proportion
shipped in
(=«<;
each subsequent
period
—
Shipments t= ]T] «* New orders^.
t+1
t+2
£+3
i+4
t+5 _ _ _
0
0
0
20
35
0.00
.00
.00
.20
.35
.25
.10
.05
.05
.00
25
The a/s are the weights and represent t+6
t+7
10
5
t+8
the percentage of each period's ("t'&")
5
0
£+10
new orders which comprise current ships
1.00
100
ments. Obviously some at's have the
value of zero. If, for example, all
shipments in period "t" represented
If it could be assumed that each
orders received 4 months prior to "£,"
period's new orders were filled in the
at_4 would equal one and the other
a/s, zero. If shipments in "t" repre- same pattern as that in table 1, then
sented some proportion of orders re- the prediction of shipments could be
ceived both 4 and 5 months earlier, obtained by simply solving the followthen a^_ 4 and at-5 would be between zero ing equation :
and one and all other a/s would be
(2) St=Q.
zero. The sum of a,_4 and at_5 need
not equal one since each coefficient re'.05^-8+0.05^.9,
lates to the orders of a different time
period. If the orders of those two where S stands for shipments and N,
periods ("t— 4" and "t— 5") were very new orders. Obviously, this equation
low relative to the manufacturing 0apacity available to fill the orders, it] is
5. This would not be true if some orders were subsequently
possible that the orders of both months canceled. Cancellations are discussed later in the article.
March 1965
would fail in the real world. since the
coefficients are not fixed but are constantly changing.6 Also, some new
orders terms which are implicitly in the
equation above with zero coefficients,
e.g., O.ONt-9 and O.OJV,_T0, might enter
some calculations of shipments if their
coefficients became positive because of
the shortening or lengthening of the
leadtime required to fill orders.
Six-month or two-quarter lead suggested
The examination of the shipments
and orders data at peaks and troughs
suggests that orders lead shipments by
from 4 through 7 months.7 This leadtime suggests the equation
The variable
coefficients
The next step is to provide for variation in «i and a2.8 It will be recalled
that variations arise because of changes
in the length of time between the receipt
of an order and the start of work on it
and changes in the amount of production time required to produce an item.
Both types of changes appear to be
reflected in the ratio of unfilled orders
to shipments ( -^ )• Thus, the use of
\o/
this ratio as a variable explaining
changes in the coefficients seems to be
suggested.
The relationship between -~ and the
&
coefficients should be such as to make
oj2 rise relative to <*i, when -~ rises. This
&
is the equivalent of making Nt-2 more
important than Nt-i in explaining shipwhere the subscript "m" refers to ments in "t." In other words, when
months. This equation must be mod- backlogs rise relative to shipment levels,
ified to permit the coefficients to vary recently received orders pile up and
over time and to insure that all of each shipments will tend to consist of orders
period's new orders ultimately result received in the more distant past. The
in shipments. To achieve these re- reverse, of course, is true when unfilled
quirements without undue complica- orders fall relative to shipments.
tion of the model and its statistical
To incorporate this variation into the
estimation a simplification is helpful: equation first assume that
the monthly data should be aggregated to a quarterly basis to reduce the
(5)
number of terms in the equation.
Therefore, let St be defined as a variable measured quarterly and be equal Notice that the subscript "t", on ai9
to the sum of shipments of months is now needed since ai will take on
"m," "m— 1," and "m— 2." Similarly, different values in each time period.
let Nt-i, on a quarterly basis, equal It is possible to make a2 depend on
U. ,
the sum of orders of months "m— 3," — m the same way as «i. TT
However,
"m— 4," and "m— 5," and let Nt_2 o
equal the sum of orders of months this would not insure that 100 percent
"m-6," "ra-7,"and "m— 8." By aggre- of a period's new orders resulted in
gating in this manner some precision shipments. When Nt-i becomes Nt~2,
is lost, but the quarterly data include in period "£+1," it will have the comost -of the orders of past monthly efficient a2) f_j_i. If oiit t and a2i i+i can
periods which seem to influence ship- be constrained to add to one, then
ments. The equation can then be
rewritten as
8. An application of a variable coefficient model can be
(3)
Sm=a1Nm-^+oi2Nm,5
(4)
6. An equation, based on quarterly data, incorporating
fixed coefficients was estimated. The results obtained were
not as good as those based on the variable coefficient model.
These latter results are found in equation (8) below.
7. This is not to say that orders for some types of machinery—power-plant generators, or weld ing apparatus, perhaps—
may not take more than 7 or less than 4 months to fill.
Rather, the leadtime uncovered is the average time consumed
from the placement of orders to shipments of all types of
machinery and equipment.
27
SUEVEY OF CUREENT BUSINESS
found in Edward Greenberg, "A Stock Adjustment Investment Model," Econometrica, Vol. 32, No. 3 (July 1964),
pages 339-357. Mr. Greenberg's model incorporates one
variable coefficient which is made to depend on several relevant variables. In this article a model is developed which
incorporates two such coefficients with an assumed interrelationship.
9. Other relationships between «i and -^ could have been
specified. The linear relationship used here seems to be
reasonable and was convenient to use. The constant term
was inserted to permit the reflection of any departures from
U
strict proportionality between a\ and -~ •
100 percent of each period's orders will
result in shipments. Therefore, set
1 = l — altt. Since altt is equal to
\ c7 )
substitute this expression
VVi-i,
for a lf t. This yields
Then one period earlier,
(6)
a^l-fft+fcfS) T
L
v*/*-2j
There now exist expressions for both
alt t and a2j t which can be substituted
into the original equation. This yields
«.=[).+«. (§),_>.-.
This can be rewritten as
Collecting terms yields
The two terms in brackets are
changes between time periods which
can be represented by A;s. Then the
final equation to be estimated is
(7)
S^
The term «0 is a constant term included
to reflect any systematic departures
from the hypothesis. The term ANt-i
is the difference between new orders of
'"*-!" and "J-2". Similarly, A
\o
is the difference between the product
of the unfilled orders (end of period) shipments ratio and new orders for
period "*-l" and "t—2". The development of the model shows a coefficient
of one on Nt-z- However, a coefficient,
&, which can differ from one was
introduced instead in order to reflect
28
possible departures from the underlying
theory which cannot be assumed to
hold rigorously.10 The ut are random
disturbances introduced because in the
real world the equation cannot be expected to hold exactly in all time
periods.
The equation was fitted to the 45
quarterly observations from the third
quarter of 1953 through the third quarter of 1964. The shipments and new
orders variables, measured in billions of
1957-59 dollars, were derived by deflating each month's observation by its
respective deflator (the BLS wholesale
price index for machinery and equipment) and summing over each calendar
quarter. The unfilled orders variable
was obtained by deflating the end of
period stock of unfilled orders by the
average of the price index for the preceding 6 months. This was done to
account for the fact that, under current
assumptions, unfilled orders can comprise up to 6 months of new orders.
SURVEY OF CURRENT BUSINESS
indicates that about 95 percent of the
observations during the sample period
lie within $0.542 billion (two standard
errors) of the computed regression line.
(The mean value of shipments during
the period is $8.46 billion.) The serial
correlation coefficient (SCO), measuring autocorrelation in the residuals, is
1.292, significant unfortunately at the 1
percent level.
It will be recalled that the variable
coefficients on the two lagged new
orders terms were imbedded in the
initial equation. These coefficients can
be obtained as follows:
-0.390A (^ N)
\0
/t-1
+Q.7l7Nt-2]
March 1965
equation are estimates of «i and a2,
respectively. In chart 15 each of the
estimates is plotted against -™-
It
can be seen that a x varies inversely
with -or
This implies that the greater
the backlog of orders relative to shipments, the smaller the amount of new
orders of "t— 1" which will be filled
in "t". It can also be seen that a2
varies directly with -~- This indicates that a high ratio of ^7 results in
an increase in the proportion of shipments in "t" attributable to new
orders in "t— 2." This is understandable since the high -™ resulted in the
filling of a small part of the new orders
of "t—2" during the preceding period—
"t— 1." The combined effect of the
+0.390 m Nt-,+0.717Nt-*; two coefficients is to lengthen the lead
\oA-2
of new orders over shipments when the
backlog of unfilled orders is high, and
to reduce the lead when unfilled orders
Results
fall relative to shipments.
The estimation of the equation, using
+0.390 (§) AT,_2;
In addition the coefficients a M and
\b/t-2
the ordinary least squares method,
a2, t+i always add to a fixed constant.
(»)•
yielded the following results:
This constant is 0.717, not the 1.0
Se=2.409+ri.035-0.390 (^] 1 N,_i originally specified. This is due to the
L
\b/t-lj
(8) ^-2.409 + 1.035AAT,_1
fact that the constant term in the
(6.29) (5.16)
+[~-0.318+0.390 (^] 1 Nt-^ regression equation adds $2.409 billion.
L
\&/*-2j
The ratio of the constant term to
-0.390A (^ N] +0.717AT,_2. The terms in brackets in the last
average new orders of "Z—2" during the
te 7frt
n finch
(3.70) V> /*-i (16.09)
sample period is 0.289, which, when
The numbers shown in parentheses are
added to 0.717, totals approximately
How the Variable Coefficients Change
the ratios of the regression coefficient to
With Unfilled Orders-Shipments Ratio (I) 1.00. Thus, while the introduction of
their standard errors ("t" ratios). The
for Machinery and Equipment Industries a constant term somewhat modifies the
ratios indicate that all the estimated
underlying theory, both the constant
As j increases, a, decreases
coefficients are significant at the 1 perand the computed coefficient on Nt~2
and a2 increases
cent level. The coefficient of determitogether meet the original assumptions
nation, (R2), the ratio of the explained
for the period as a whole.11
Value of Coefficient
variance in the dependent variable to
1.5-.- -" .-• •
- - . - - , - , - ..-/-,>- - • > .
In chart 16 actual shipments and the
the total variance in the dependent
computed values obtained from use of
variable, adjusted for degrees of freethe equation (8) are presented. The
^1.035
dom, is 0.868, significant at the 1 per"fit" of the computed to the actual
cent level. The adjusted standard error
values is quite good, as could have
of estimate (SEE) is $0.271 billion which
been expected from the interpretation
of the various statistics of the esti10. An alternative equation which could have been presentmated equation. However, closer exed is 8t-Nw=a*+p^M+pibN\ +ut. Bybringing
amination of the chart reveals that the
Nt-2 to the left-hand side of the equation, its coefficient is constrained to equal one. Under this circumstance the estimate
of the constant term «0 should be zero . Actually this equation
was estimated and «0 turned out to be small and not significantly different from zero. However the equation did not
fit the actual data quite as well as the equation in which
Nt-2 appears on the right-hand side with an unconstrained
coefficient. An analysis of the constant term and coefficient
of Nt-z obtained from fitting this equation is contained in the
next section on results.
11. That the estimates of «o and 02 yield results, for the
period as a whole, which are equivalent to a coefficient of
one on Nt-2 may be seen below, where Nt-2 is the mean value
of the variable during the sample period:
-1.0
0
1
2=
2
t-2
Unfilled Orders—Shipments Ratio (5)
U.S. Department ot Commerce, Office of Business Economics
Nt-2
0.289+0.717=1.006
SUEVEY OF CURRENT BUSINESS
March 1965
equation misses turning points. Actual
shipments change direction one quarter
before computed shipments, except at
the trough of the 1953-54 recession
when computed shipments turn up 3
months before actual shipments. Of
course, because the equation fits the
data so well, the difference between the
computed and actual values of shipments is quite small even in quarters
during which the series have moved in
opposite directions. In the fourth
quarter of 1956, for example, the difference between the two values is only $37
million, despite the fact that actual
shipments were rising and computed
shipments were falling. Similar situations are apparent in the third quarter
of 1957 and the second quarter of 1961.
Modifications of the model
It is difficult to assess the estimated
equation. The fit of the equation is
good but, at the same time, the equation
does not reflect turning points. The
turning point difficulty does limit the
use of the equation although the good
29
fit still permits forecasts to be made if
predicted turning points are carefully
interpreted. Even if the equation is
not considered suitable for forecasting,
it does not follow that it is not useful
for studying the orders-shipments relationship since it does explain an extremely large percentage of the overall
variation in shipments. Nevertheless,
further tests are in order to determine
if a better equation can be developed.
There are several reasons why both
the model and the data on which the
estimated equation is based may fail
to depict fully the relationship between
orders and shipments. The specification of the model has four possible
shortcomings. First, the variable coefficients in the model were not constrained to prevent computed shipments
from exceeding the shipment capacity
of machinery and equipment producers.
However, the omission of a capacity
constraint apparently affected the results only around the 1956 shipments
peak. If it is assumed that the $9.1
billion of shipments in the fourth
quarter of 1956 called for output at
virtually full capacity, then the computed values for the third quarter of
1956 and the first quarter of 1957
exceeded capacity.12 If a constraint
were imposed, the two peaks in shipments, in effect, would have been
flattened out along the capacity ceiling.
This would have served to defer the
downturn even more than one quarter
since computed shipments would be
forced to edge up along the capacity
ceiling until the new orders accumulated because of the capacity constraint
were worked off. In no other time
period do computed shipments exceed
what could be inferred as the capacity
of the machinery and equipment producers.13 Thus, the omission of capacity constraints in this aggregative model
should not bias the results very much.
The second shortcoming of the structural model is that it fails to take into
account the level of finished goods inventories (for which data are not available) and their use in filling shipments.
Greater- or less-than-normal reliance on
inventories to meet new orders will result in a shortening or lengthening of
the lag between orders or shipments.
However, since changes in the lag due
to any factor are reflected in the ratio
of unfilled orders to shipments, it can
be argued that the effects of accumulations and liquidations of finished goods
inventories are implicitly accounted for.
Also, there is not much production for
stock in the machinery and equipment
industries. Thus, the failure to treat
inventories explicitly does not seem to
be an important shortcoming of the
model.
The third shortcoming of the model
relates to its inability to adjust for severe raw materials shortages—actual or
anticipated—such as those associated
with strikes. The model continually
translates orders into shipments. Some
materials shortages which are not severe
enough to change the basic lag structure
CHART 16
Shipments of Machinery and Equipment Industries—Actual and Computed
Billions of 1957-59 Dollars
11.0
10.5
10.0
9.5
9.0
8.5
8.0
7.5
7.0
f
6.5
1953
'
!
J
54
1
f i , | !.' I r'.l f
55
56
I
57
f -I
! i I
58
59
Quarters, Seasonally Adjusted
Computed based on equation (8)
U.S. Department of Commerce, Office of Business Economics
62
12. It is assumed that any increase in capacity from the
fourth quarter of 1956 to the first quarter of 1957 was insufficient to satisfy the level of shipments computed for the
latter quarter, but this assumption is not necessary for the
point to hold.
13. Even though computed shipments exceeded actual
shipments at the peak in 1959-60, computed shipments were
still below the peak actual shipments in the fourth quarter
of 1956.
SURVEY OF CURRENT BUSINESS
30
corporated in the model.14 Certainly,
a forecaster making use of the equation
o
prolonged strike in an industry such as would judgment ally correct predicted
steel, for example, can result in length- values for an event such as a strike.
ening the orders lead to three, rather
The fourth shortcoming is the possithan two quarters and in sharply re- bility that the lag structure was
ducing shipments during the actual improperly specified. It will be restrike. The model would not sense called that chart 13 seemed to indicate
such an occurrence and therefore its that new orders led shipments by from
effect would not be felt on computed 4 through 7 months. However, turning
shipments. Computed shipments rose points in the monthly orders and shipin the third quarter of 1956, while ac- ments series were difficult to pin down
tual shipments edged down, probably specifically because of the presence of
because of the 5-week strike in the steel random movements in both series. In
industry in July and August of that addition, the use of calendar quarter
year. Computed shipments rose in the aggregates introduces some lack of
fourth quarter of 1959, while actual precision, as recognized earlier, even
shipments declined. Again, the steel though most of the relevant monthly
strike which extended from roughly shipments figures are included in the
mid-July to mid-November, was prob- two, lagged, new orders variables.
ably behind this contraction in actual
Because actual shipments frequently
shipments. These instances suggest lead computed shipments at turning
that the impacts of strikes or other points, it may well be that the lag
"shocks" on the economy should be in- structure of the model was somewhat
improperly specified. In the develop14. Some readers may be familiar with the use of "dummy' ^
variables in regressions to account for irregular behaviort
ment of the model estimated above the
In the case of strikes, such variables could be used to reflec
unusually large increases in orders in anticipation of a strike,
months of new orders included were
and the shock imposed on the economy when either a strike
those of "m-3," "m-4," and "m-5"
occurs or an expected strike does not materialize.
are accounted for by U
—-
However, a
CHART 17
Shipments of Machinery and Equipment Industries—Actual and Computed*
Billions of 1957-59 Dollars
11.0
March 1965
(in the term Nt-i), and "m-6," "m-7,"
and "ra—8" (in the term JW 2 )« When
the variable coefficients are equal so
that Nt-i and Nt-2 are weighted equally
the average implicit lag is 4.5 months.
Suppose the "true" average lag was
actually one month longer or shorter
than that used. Then it would be
appropriate to sum new orders into two
quarterly variables covering "m—4"
through "m—9" to lengthen the lag, or
covering "m—2" through "m—7" to
shorten it.
Both possibilities were tested and the
shortening of the lag by one month
yielded better results than lengthening
it. When the lag is shortened some
overlapping occurs. New orders of
quarter "t—1" include those of month
"w—3" and shipments of quarter "t"
include those of month "m—3." There
is nothing inherently wrong in this lag
structure. The measure of its validity
is the degree to which the results it
produces conform with the real world.
The equation (10) below was estimated incorporating the new, shortened
lag structure. In this equation the
subscript "t" refers to calendar quarters and the subscript "s" to quarters
composed of the last 2 months of one
calendar quarter and the first month
of the next. The equation is
(10)
/:•-...
10.5
Sf« = 1.456 + 1.045A#.-i
(4.24) (8.73)
-0.642A (§ N) +0.825^.2.
/s 2
(7.46) V
~ (20.76)
10.0
9.5
9.0
8.5
;i
8.0
7.5
7.0
^i/^' ;•}; i-*;rv-' :'i' -M ';",i,l'l'""jV.'i ' *-"
6.5
1953
54
55
56
57
58
59
60
Quarters, Seasonally Adjusted
* Computed based on equation (10)
U.S. Department of Commerce, Office of Business Economics
61
62
63
64
Again, the numbers shown in parentheses are ratios of regression coefficients to their standard errors. These
ratios indicate that all regression coefficients are significant at the 1 percent
level. The R 2 is 0.921, significant at the
1 percent level; the adjusted standard
error of estimate is $0.209 billion,
and the serial correlation coefficient
is 1.573, indicating significant serial
correlation at the 5 percent level.
Shipments, computed from the equation (10), are plotted together with
actual shipments in chart 17. Aside
from fitting the actual data better than
those of the previous equation (8), the
computed values change direction simultaneously with the actual values in
a greater number of cases than hi the
previous equation. Unlike equation
March 1965
(8), directional changes in the actual
values and values computed from equation (10) coincide in 1955-1, 1955-III,
1955-IV, 1959-IV, 1963-1, and 1964-1.
In all, the new equation (10) yields
results which coincide with actual
movements in 7 of the 13 turning
points in the shipments series. However, while the second equation (10)
seems to provide a better forecasting
framework it is not possible to infer
unequivocally that its lag better reflects
the nature of the relationship between
orders and shipments.
Impact of canceled orders
Apart from the foregoing shortcomings which relate directly to the
specification of the model there are
other factors which might explain
some of the departures of computed
from actual values. One of these is
the lack of information on the cancellation of orders. The new orders
series is calculated net of cancellations,
since it is computed by adding the
change in unfilled orders to shipments.15
Thus, if a cancellation out of the preceding months' orders occurs during
the current month, new orders of the
current, not the preceding month, will
reflect the cancellation. If cancellations were the same amount from
month to month no error would be
introduced into the model through the
new orders data. Each period's new
orders would be lower by the amount
of the preceding period's cancellations
charged to it, but higher by the same
amount because cancellation of the
current period's orders would not be
reflected. Assume that this had been
the case during the expansion phase
of a cycle. Assume further that in
the first quarter of contraction there
was an increase in the cancellation of
orders which had been placed in the
last two quarters of the expansion.
Thus, these latter two quarters of
orders would be overstated while orders
in the first quarter of contraction would
be understated. The model would
translate the overstated orders of the
last two quarters of expansion into
15. Manufacturers' Shipments, Inventories, and Orders:
1947-63 (Revised), page 13, Bureau of the Census, U.S.
Department of Commerce, Washington, D.C. The new
orders series is derived from seasonally unadjusted data.
After each series is independently seasonally adjusted new
orders no longer need equal shipments plus the change in
unfilled orders. The difference is usually small.
SUKVEY OF CUKKENT BUSINESS
31
shipments during the first quarter of January. These data, used to recontraction. Thus, shipments would estimate the original model (7), yielded
be too high in the first quarter of con- the following results:
traction. This might explain why the (11) S =
S
model results do not turn down when
(3.98) (6.50)
actual shipments do. The same logic
can also be used to explain a lag at
+0.800A/rs_
the trough, particularly if the con' (16.23)
(4.68)
traction phase is short. While failure
to account for canceled orders seems where the subscript "s" denotes quarto be a plausible explanation of missed terly aggregates based on a different
turning points, there is no readily time period, i.e., February-April, etc.
available remedy for this deficiency Equation (11) is slightly better than
equation (8): the K2 is 0.887 as comin the data.
pared with 0.868 in the first equaCalendar versus noncalendar
tion. The adjusted standard error
aggregates
of estimate is $0.260 billion versus
Another possible shortcoming of the $0.271 billion for the first equation.
model is the way in which the quarters The most notable improvement is in
were combined from the monthly data. the serial correlation coefficient, which
The variables were based on calendar is 1.568, still significant but only at the
quarters, i.e., January-March, etc. As 5 percent level; the coefficient of serial
alternatives, three-month totals could correlation was significant at the 1 perhave been built up by starting with cent level in the first equation. As in
February or March. Data were com- equation (8) all regression coefficients
piled using one of these alternatives — and the constant term are highly signifbeginning with February. Thus, for icant. Directional changes in shipeach variable, the four quarterly ob- ments computed from equation (11)
servations are February-April, May- coincide with actual changes in two
July, August-October, and November- more instances than in equation (8),
but a large number of changes remain
unaccounted for.
.
.\ - ,;,;,.," . CHART lg
On balance, the difference between
the two equations seems minor. The
How the Equations Forecast
small difference between the two seems
Shipments of Machinery and
to suggest the obvious point that some
Equipment Industries
precision is lost in capturing a lag struc* Modifications improve forecasts
ture when the time over which each obBillions of 1957-59 Dollars
"• '
:
servation is measured is lengthened.
ai.OO
However, the loss in this case seems
— Actual
•— Eqn. (8F)
small enough to be overlooked, in view
.... Eqn. (10F)
-• Eqn. (12F)
of the simplicity with which the variable coefficient model could be developed by using two quarterly lag
terms rather than four or more monthly
lags.
>'.j-.„?';.: 3
, 4 ' } -. '2 — 3 :. ' 4,;-c v\-y-2-\:\^ -:
^v;V:1962' :, •;:'. i'' 'l96a!'-:';^ ' " ; • ' ' - : '---^964; ^ -, ;\:;
Quarters, seasonc»Ity ad}ysfed,
;> >
;fee.~Equations'on %Wch fprficasts,-afe'-bas&d:'appe'ar- in footnote,'
>U.S.^Department of Commerce, Office <rT8usmes$ Economies'- - ,r~-:-65-3'
Price deflation problems
Another factor which could possibly
have contributed to the difference between actual and computed values of
shipments is the method of deflating
the orders and shipments variables.
Both series were deflated by the value
of the index at the time period each
occurred. This assumes that orders
are placed at prevailing prices but that
these prices may be changed when the
orders are shipped. But it is also
32
SUEVEY OF CURRENT BUSINESS
possible that price changes are first
put into effect at the ordering stage
and that the price at which the order
is placed prevails at the time of shipment. If this is the case, then the
portion of orders of "$—1" and "£—2"
which will be shipped in "t" should
have been deflated by the index for
"t." 16 Failure to do so, in a period of
rising prices, results in an overestimation of the physical volume of orders,
causing an overestimation of the physical volume of shipments. If prices
have risen, but at a uniform rate, then
the upward bias in shipments will be
constant over time and will be reflected in the constant term of the
equation. If the rate of price change
varies (as, of course, it has) then the
constant term will not reflect greateror less-than-normal price changes and
the resulting estimates will suffer.
To correct for this possible defect an
additional variable was introduced:
the change in the wholesale price index
for machinery and equipment over the
preceding two quarters
(WPIt—
WPIt-tY11 This variable substantially
improved all three equations which
have been presented. The equation
which yielded the best fit after introduction of the price variable was the
one with the shorter lag structure (10).
This equation gave the best fit of all
three equations (8, 10, 11) before the
price variable was introduced. The
Hew equation is
The R2 is 0.940 and the adjusted standard error of estimate is $0.183 billion.
The introduction of the variable served
to eliminate virtually all serial correlation (serial correlation coefficient =
1.965), the presence of which may reflect
the omission of a variable. The minus
sign on the price variable conforms
with expectations. It serves to reduce
shipments (when prices are rising) to
compensate for the overstatement of
orders resulting from the use of a
deflator which is too low. The statistical significance of the regression coefficient on the price change variable is
an indication that in an important
number of cases price increases are
applied to incoming orders and shipments are made at the price reflected
in the orders.
While the fit of the equation is improved, the equation performs slightly
less well at turning points than it did
without the price change variable.
Furthermore, the introduction of the
price change variable prevents the use
of the equation for forecasting purposes
unless an independent estimate of WPIt
is made.
Thus far, four equations (8, 10, 11,
and 12) have been presented and
analyzed. A further test of each
equation, relating to its ability to forecast shipments, can be performed.
This test is to omit observations for
the more recent period, to reestimate
each equation for the now shorter
period, and to forecast the omitted
period with each of the equations.
(12) S*=1.475+
(4.92) (8.73)
-O.STgAf^
(7.53)
-i (24.00)
(3.72)
16. This would not have been possible since only after the
equation was estimated could the portions of orders of "t—I"
and "t—2" have been determined. Thus, while the latter
method seems preferable, it could not have been applied
initially.
17. Also tried, but with less success, was WPIt-WPIt-i.
Since Nt-t appears in the equation the inclusion of WPIt—
WPIt-z is more logical.
March 1965
These forecast shipments can then be
compared to the actual shipments for
each equation to see which performs
best. The results of this experiment,
omitting the last eight quarterly observations, for the three equations in
which the dependent variable is shipments on a calendar quarter appear in
chart 18.18 The constant term of each
equation was adjusted so that the
shipments' values computed by the
equations would coincide with actual
shipments in the third quarter of 1962,
the "jump-off" quarter for the forecasts. Equation (8F) is the estimate
of the original model; equation (1 OF),
the model with the lag shortened by
1 month; and equation (12F), with the
shortened lag and the price change variable.19 This last equation, which was
the best equation when all 45 observations were included, gives the best
forecast of the 1962-IV— 1964-III period. All three forecasts show a decline
in 1963-1. Since actual shipments fell
in 1962-IV, the decline in predicted
values in the subsequent quarter reflects
the tendency of all equations to lag
one quarter in responding to directional
changes. However, for equations (10F)
and (12F) the further decline computed
for 1963-1 is quite small, amounting to
$9 million and $28 million/respectively.
18. The three equations whose forecasts of 1962-IV— 1964-III
are plotted in chart 18 follow:
(8F) 8t =3.404+0.842A^-i -0.355A V S &) ,1 ,+0.586^-2,
(?
(9.64) (5.15)
(4.22)
-*" (13.85)
R2 = 0.846, SEE^O.211, SCO =1.804 >
., .
(10F)
8 !
(5.79) J^
" (14.07)
(5.83) (6.03)
0.875, SEE=0.190, SCC=1.583
(12F)
(5.18) (6.30)
-*.m(
(1.96)
(6.00)
,t
.
s 1
" (14.28)
), §2=0.885,
_
SEE =0.182, SCO =1.898.
19. These numbers coincide with those placed to the left
of the equations in the text above estimated from observations for the full period. The "F" indicates they are based
only on 37 observations and are used to generate forecasts
for the remaining eight quarters for which data were available.
CURRENT BUSINESS STATISTICS
. • JL HE STATISTICS here update series published in the 1963 edition of BUSINESS STATISTICS, biennial Statistical Supplement to the SURVEY
OF CURRENT BUSINESS. That volume (price $2.00) contains data by months, or quarters, for the years 1959 through 1962 (1951-62, for major
quarterly series) and averages of monthly or quarterly data for all years back to 1939; it also provides a description of each series and references
to sources of earlier figures. Series added or significantly revised after the 1963 BUSINESS STATISTICS went to press are indicated by an asterisk
(*) and a dagger (f), respectively; certain revisions for 1962 issued too late for inclusion in the aforementioned volume appear in the monthly
SURVEY beginning with the August 1963 issue. Also, unless otherwise noted, revised monthly data (for periods not shown herein) corresponding
to revised monthly averages are available upon request.
Statistics originating in Government agencies are not copyrighted and may be reprinted freely,
through the courtesy of the compilers, and are subject to their copyrights.
1962
Unless otherwise stated, statistics through 1962
and descriptive notes are shown in the 1963
edition of BUSINESS STATISTICS
1964
1963
Annual total
1962
1961
IV
Data from private sources are provided
I
1963
I
| III | IV
II
II
1964
III | IV
I
|
| III | IV
II
Seasonally adjusted quarterly totals at annual rates
GENERAL BUSINESS INDICATORS—Quarterly Series
NATIONAL INCOME AND PRODUCT
National income totalf
;'
Compensation of employees, total
bil. $._
____.do
Wages and salaries total
_ _ _ __ do .
Private
--do
Military
___do
Government civilian
-do
Supplements to wages and salaries
do
Proprietors' income, totaled
do_
Business and professionalcf
.
. do_ _.
Farm
_
-- do
Rental income of persons
..
do
Corporate profits and inventory valuation adjustment total
bil. $
Corporate profits before tax, total
Corporate profits tax liability __
Corporate profits after tax
__
Dividends
Undistributed profits
Inventory valuation adjustment
do _.
__ do__ _
__do_ _
do
do
do
455.6
478.5 v 510.1
442.4
447.2
454.3
457.8
463.2
467.9
474.6
481.9
490.0
498.4
507.1
514 5 v 520.3
323.1
340. 3
361.7
310.7
316.6
322.4
325.3
328.0
332.7
338.1
342.7
347. 7
352.5
358.6
364.8
370.6
297.1
241.6
10.8
44.7
25.9
49.8
36.6
13.2
12.2
312. 1
252.9
10.9
48.3
28.2
50.6
37.6
13.0
12.3
331. 6
267.4
11.8
52.4
30.1
52.0
39.3
12.7
12.4
286.8
233.2
10.8
42.8
23.9
49.6
36.3
13.3
12.2
291.2
236.5
11.1
43.6
25.4
50.0
36.3
13.7
12.2
296.6
241. 5
11.0
44.1
25.8
49.9
36.6
13.3
12.2
299.2
243.5
10.7
45.0
26.1
49.7
36.7
13.0
12.2
301.6
244.8
10.5
46.3
26.4
49.7
36.9
12.8
12.2
305.3
247.5
10.6
47.2
27.4
50 3
37.1
13.2
12 3
310.1
251.6
10.7
47.8
27.9
50.1
37.3
12.8
12 3
314.3
255. 0
10.7
48.7
28 4
50.7
37.8
12.9
12 4
318.8
257.6
11.7
49.6
28.8
51 5
38.3
13.2
12 4
323 2
260.8
11.7
50 7
29 4
51 2
38 6
12.6
12 4
328 7
265 3
11.7
51 7
29 9
51 7
39 1
12 6
12 4
334 4
269 4
11 8
53 2
30 4
52 1
39 6
12 6
12 4
339 9
274 0
11 9
54 0
30 7
52 8
39 9
12 9
12 5
48.4
50.8
p 57.3
49.0
47.1
48.0
48 3
50.3
49 1
50 2
51 4
53 1
56 4
57 9
58 1
*> 56 7
48.2
23.2
25.0
16.5
8.5
.3
51.3
24.6
26.7
18.0
8.7
-.4
* 57. 5
p 25.8
v 31.7
19.8
49.3
24.8
24.5
15.7
8.8
—.3
47. 2
22.7
24.5
16 1
8.4
_. i
47.9
23.0
24.9
16 4
8.5
48 1
23 1
25.0
16 5
85
49 4
23 8
25.7
17 1
86
9
48 9
23 4
25 5
17 2
83
2
51 1
24 5
26 6
17 7
89
9
51 3
24 5
26 7
17 9
89
54 3
26 0
28 3
19 1
92
12
56 6
25 4
31 2
19 4
11 8
57
26
31
19
12
58
26
32
20
12
v 57 4
v 25 7
f> 31 7
20 2
TO
11.9
—.2
o
1
2
2
9
0
9
8
1
•«
0
0
0
0
0
j
j> H Q
7
do
22.1
24.4
26.8
20.9
21.3
21.8
22 3
22 9
23 5
24 0
24 7
25 4
25 9
26 5
27 1
27 6
do
556. 2
583.9
622 6
536. 9
545 5
553 4
559 0
566 6
571 8
577 4
587 2
599 0
608 8
618 6
628 4
634 6
Personal consumption expenditures, total __do
356.8
375.0
399.3
345. 2
350. 5
354.0
358.5
364.0
369.2
372.0
377. 4
381. 3
390.0
396.1
404.6
48 4
20.6
20.2
162. 0
29 9
84.6
12.3
146 4
21.6
46 5
11.3
52 1
22.7
21.4
167.5
30 7
87.1
12.8
155 3
22 7
48 9
11 7
57 0
24.2
24.0
177 3
33 4
91.7
13 5
165 1
24 4
51 5
12 2
46 0
18.6
19.9
157 8
29 4
82. 2
12 0
141 4
20 9
45 0
10 8
47 4
19.7
20. 1
159 5
29 6
83.2
12 2
143 6
21 3
45' 6
11 1
47 7
20.3
19.9
161 0
29 7
84.1
12 2
145 3
21 3
46 2
11 2
48 4
20.5
20.3
162 9
30 0
85.2
12 3
147 2
21 7
46 8
11 4
50 2
21.8
20.6
164 4
30 2
85.9
12 5
149 5
22 0
47 5
11 5
51 1
22.4
20.8
166 0
30 4
86.4
12 7
152 1
22* 4
51 5
22.6
21.0
166 6
30 1
86.9
12 8
RO 9
cq a
KK Q
e7 f\
KO 7
22.6
21.6
168 6
31 3
87.3
12 9
23.2
22.3
168 9
24.3
23.1
24.1
24.2
175 3
qq 9
406.5
KG q
22.8
24.5
181 3
icon
i ce a
22 4
22 Q
11 6
11 7
4Q 9
11 7
79.1
82.0
87.7
74.9
77.4
78.9
80.2
79.9
77. 9
80.2
Net interest
Gross national product, totalf
Durable goods total©
do
Automobiles and parts
do
Furniture and household eqtiipment__-do
Nondurable goods, total© ._
__do __
Clothing and shoes
do
Food and alcoholic beverages___
do
Gasoline and oil
__•_ do
Services, total ©
do
Household operation..
do
Housing
do
Transportation
_
do
Gross private domestic investment, total. _ _do
48 0
48 fi
qn Q
179 Q
q9 i
90.6
13 5
25.6
24.2
m
qq
e
o
9q n
4Q 8
9q c
o
19 fl
199
199
12 3
82.8
87.1
85.9
87.2
87.3
90.4
iq q
-ICO
n
C-j
92.8
13 5
O
94 0
"I
do
____do.--____do
•__
do
do
44 2
23.6
29.0
5.9
53
46 6
25.2
31.0
4.4
39
48 9
26.0
35.1
3.7
36
41 9
22.1
27.4
5.6
52
42 5
22'. 5
28.1
6. 9
64
44 1
23.5
28.8
6.1
55
45 5
24. 4
29.6
5.1
44
44 Q
44 7
AR Q
47 9
48 Q
4O 9
24.3 . 25. 1
29.6
30.7
3.6
3.6
q n
q 9
25.4
31.4
4.2
26.2
32.4
6. 4
26.9
34.2
2.5
26. 2
34.6
3.7
3 4
Net exports of goods and services
Exports
___
Imports
__do____
do
do
4.0
29 2
25 2
4.4
30 7
26 3
7.0
35 2
28 2
4.3
28 4
24 1
3.4
28 0
24 6
4.3
29 6
25 3
4.4
29 7
25 3
3.9
29 4
98 8
4.3
30 5
4.2
31 0
9fi a
q9 a
9fi Q
Govt. purchases of goods and services, totaL.do
Federal (less Government sales)
____do I
National defense 9
IHIIdoI.II
State and local____.___
____
do
116.3
62.9
53.6
53 5
122.6
64.7
55.2
57 9
128.6
65. 5
55.4
63 0
112.6
59.8
50.9
52 8
114.3
61.4
52.5
52 8
116.1
63.6
55.3
52 5
115.9
62.4
53. 0
53 5
118. 7
63.8
53.5
54 8
121. 4
65.1
54.8
120.9
64.3
55.2
122.8
64.4
55.5
124. 8
64.9
55.3
KQ Q
By major type of product:f
Final sales, total
Goods, total.
Durable goods______
Nondurable goods
Services
___
Construction
___
550 3
273 6
102.3
171.3
214 7
62 0
579 5
285 8
108.2
177.6
228 4
65 2
618 9
305 6
118.0
187.6
244 3
69 0
eqi 4.
264 8
98.4
166.5
206 8
59 7
538 7
268 9
100. 2
168.7
210 0
59 8
547 3
273 5
103.5
170.0
212 2
61 6
273 9
101.4
172. 6
5.9
4.4
3.7
5.6
6.9
9 9
3ct
q n
9 n
30
__
2! 9
17
9 n
9 Q
2.2
••Revised, v Preliminary, t Revised series. Estimates of national income and product
and personal income have been revised back to 1961 (see p. 8 ff. of the July 1964 SURVEY);
revisions prior to May 1963 for personal income appear on p. 15 of the July 1964 SURVEY
94 a
e-l
C
48 Q
24.0
29.7
5.4
Inventory change, total.
Durable goods
Nondurable goods
764-272 O65-3
do
do
do
do.—
do
do
___
_
__ do
do
do
KKA
fl
nc c
3.4
OK
A
Kc q
K(* 7
q 7
CO A
fi n
5.8
7.7
r>A. K
5.7
oq 7
48 7
25.7
35.6
2.8
25.1
36.0
5.7
7.0
7.7
37 1
qc 7
97 Q
125. 2
64.3
54. 0
fin Q
129.6
67.1
57.0
fi9
*.
9Bfi %
f)OK
105.0
175.8
111.0
175. 5
106. 6
179. 1
f>q "7
129.5
65.5
55. 2
fi4 1
fifi 9
3.6
o
4.2
104.1
174.1
990 n
cq n
994 7
fi9 7
6.1
q i
5.1
q i
5.4
3.6
a n
9 n
^ fi
9 n
a -I
9Q 4
K(\o cy
9QA Q
91 fi 8
cq 9
K9 A
130.0
65.3
55.3
fi.4 fi
fi9s a
n
978 9
KO-l
93.6
13 7
IRQ n
25 1
89.7
New construction
Residential nonfarm
Producers' durable equipment
Change in business inventories
Nonfarm
__
4 S
OA q
87.8
13 0
9 7
^Includes inventory valuation adjustment.
9 Government sales are not deducted.
qnn (•
7
110.4
179.9
114. 3
183.9
119.0
185.4
120.7
189.8
6.4
3.0
2.5
.7
3.7
10
2.8
5.7
C.
9 1
117.9
191.7
fid n
•J A
1 C
1
©Includes data not shown separately.
s-1
SURVEY OF CUEEENT BUSINESS
S-2
Unless otherwise stated, statistics through 1962
and descriptive notes are shown in the 1963
edition of BUSINESS STATISTICS
1962
| 1963 | 1964
1962
II
Annual total
III
March 1965
1963
IV
I
II
1964
III
IV
1965
II
I
III
IV
I
II
GENERAL BUSINESS INDICATORS—Quarterly Series—Continued
NATIONAL INCOME AND PRODUCT— Con.
Quarterly Data Seasonally Adjusted at Annual Rates
GNP in constant (1954) dollars
Gross national product total t
bil $
476.4
492.6
516. 0
475.1
478.3
483.0
485.4
487.9
494. 8
502. 0
508.0
513.5
519.6
522.7
Personal consumption expenditures, total.. do
318.5
330.6
347.5
316.6
319.8
323.6
327.0
328.6
332.4
334.4
340.9
345.0
351.8
352.4
do
do
do
45.7
148.3
124.5
49.3
151.6
129.7
54.2
158.8
134.6
44.9
147.8
123.8
45.6
149.1
125.0
47.6
149.5
126. 5
48.5
150.7
127.8
48.6
151.1
128.9
49.4
152.5
130.6
50.8
152.1
131.6
53.1
155.2
132.6
54.0
157.4
133.7
55. 6
160.9
135.3
53.9
161.9
136.6
Gross private domestic investment, total_._do
65.9
67.7
71.0
65.8
66.3
66.5
64.7
66.2
68.1
71.7
70.1
70.8
70.4
72.7
36.7
24.0
5.2
37.9
25.6
4.1
38.9
28.8
3.3
36.6
23.8
5.4
37.5
24.4
4.4
37.0
24.7
4.9
36.8
24.6
3.4
37.5
25.4
3.3
38.2
25.9
4.0
39.0
26.8
5.9
39.6
28.1
2.4
39.2
28.3
3.3
38.6
29.2
2.5
38.2
29.5
5.0
5.4
3.4
4.5
5.2
92.4
47.3
45.1
Durable goods
Nondurable goods
Services
__
New construction
Producers' durable equipment
Change in business inventories
do
do
do
Net exports of goods and services
do
Govt. purchases of goods and services, total— do
Federal
_ do ._
State and local
do___DISPOSITION OF PERSONAL INCOMEf
Quarterly Data Seasonally Adjusted at Annual Rates
Personal income total
bil $
Less* Personal tax and nontax payments
do
Equals* Disposable personal Income
do
Personal savin01 §
do
NEW PLANT AND EQUIPMENT
EXPENDITURES
Unadiusted quarterly or annual totals:
All industries
bil. $__
2.2
2.2
4.6
2.8
2.8
2.1
1.3
2.1
2.0
3.5
89.8
49.4
40.3
92.1
49.7
42.4
92.8
48.2
44.6
89.9
50.2
39.8
89.4
49.2
40.2
90.7
49.9
40.9
92.4
50.7
41.8
91.0
49.4
41.7
92.3
49.6
42.7
92.4:
48.9
43.4
91.6
47.8
43.8
94.3
49.8
44.5
92.8
47.8
45.0
442.4
57.9
384.6
464.1
61.6
402.5
491. 4
59.5
431.8
441.0
57.6
383.4
444.5
58.5
386.0
449.7
59.3
390.4
455. 2
60.1
395.1
460.2
61.1
399.1
466.3
61.9
404. 4
474. 5
63.3
411. 2
480.9
61.4
419.5
487.9
57.7
430.2
494.5
58.8
435.6
502.2
60.2
442. 1
27.8
27.5
32.5
29.4
27.5
26.4
25.9
27.1
27.0
29.9
29.5
34.0
31.0
35.5
Mining
Railroads
_ _ _
Transportation, other than rail
Public utilities
Communications
Commercial and other
37. 31
39. 22 '44.90
9.50
9.62
10.18
8.25
9.74
10.14
11.09
9. 40
11.11
11. 54
do _
__do____
do
Manufacturing
_ _
Durable goods industries
Nondurable goods industries
14.68
7.03
7.65
15.69
7.85
7.84
"•18. 58
'9.43
9.16
3.69
1.77
1.92
3.72
1.79
1.93
4.13
2.03
2.10
3.27
1.62
1.65
3.92
1.96
1.95
3.95
1.96
1.99
4.56
2.31
2.25
3.79
1.93
1.87
4.53
2.30
2.23
4.67
2.37
2.30
'5.59
'2.83
2.76
' 4. 61
'2.30
'2.31
5.44
2.70
2.73
do
do
_do
do
do
do __
1.08
.85
2.07
5.48
3.63
9.52
1.04
1.10
1.92
5.65
3.79
10. 03
'1.19
••2.38
'6.22
4.30
.27
.26
.60
1.37
.93
2.37
.28
.24
.50
1.54
.87
2.48
.27
.20
.50
1.52
.95
2.60
.24
.21
.39
1.04
.85
2.26
.26
.28
.54
1.40
.95
2.41
.27
.29
.45
1.60
.93
2.64
.28
.33
.54
1.61
1.06
2.72
.26
.32
.51
1.18
.97
2.37
.29
.36
.63
1.58
1.10
2.61
.30
.37
.59
1.71
1.06
2.84
'.33
'.35
'.64
'1.76
1.17
'3.01 '
'.28
'.42
'.56
'1.25
.34
.42
.78
1.64
3 3. 74
34.13
36.95
38.35
37.95
36.95
38.05
40.00
41.20
42.55
43.50
14.45
6.95
7.50
15.05
7.25
7.80
15.00
7.30
7.70
14.85
7.35
7.50
15.30
7.65
7.65
15. 95
8.00
8.00
16. 45
8.30
8.15
17.40
8.85
8.55
17.80
9.00
8.80
1.05
.95
2.25
5.40
3.65
9.25
1.10
1.00
2.00
5.75
3.60
9.85
1.00
.80
1.90
5.45
3.60
10.20
1.05
.90
1.70
5.20
3.55
9.65
1.00
1.00
2.05
5.45
3.65
9. 65
1.05
1.20
1.85
5.90
3.85
10.20
1.05
1.35
2.10
5.80
4.05
10.45
1. 15
1.40
2.30
5.95
4.05
10.25
1.15
1.25
2.25
6.30
4.30
10.45
45.65 r 47. 75
18. 85 ' 20. 15
9.60 ' 10. 15
9.20 '10.00
1.20
' 1. 30
1.50 '1.55
2.40 '2.60
6.30
'6.35
4.40
4.40
11.00 r 11. 40
4,790
4,800
4,815
4,825
4, 835
4,850
4,860
4, 875
4,895
4,910
4,930
10, 712
'1.41
r 10. 83
Seas. adj. qtrly. totals at annual rates:
Durable goods Indus tries
Nondurable goods industries. _ _ _
Mining
<:
do
__do
do
Transportation, other than rail—
_._do
Public utilities
do
Communications
do
Commercial and other
do
BUSINESS POPULATION
Firms in operation, end of quarter (seasonally adU.S. BALANCE OF INTERNATIONAL
PAYMENTScft
Quarterly Data are Seasonally Adjusted
U S payments recorded
mil $
44,755 * 4, 797
33, 486
35, 990
39, 781
8,151
8,312
8, 576
8, 724
9,713
8,482
9,071
' 9, 289 r 9, 754 '10,026
do
do
16, 134
3,044
5,843
16, 996
2,897
6,442
18, 638
2,807
6,869
4,058
749
1,462
4,088
745
1,465
4,040
792
1,504
4,037
747
1,543
4,212
731
1,588
4,368
711
1,654
4,379
708
1,657
r 4, 416
do
-___._do
738
4,293
826
4,522
830
4,277
189
1,065
177
1,066
185
1, 088
209
1,060
209
1,336
206
1,009
202
1,117
do
do
do
do
3,434
1 654
1,227
553
4, 307
1,888
1,685
734
6,360
2,297
1,956
2,107
628
446
303
-121
771
417
208
146
967
531
326
110
1, 128
618
546
-36
1, 637
477
598
562
534
235
303
-4
1,008
558
238
212
do
32, 394
33,685
37,913
7,925
8,408
8,355
7,780
8,429
8,596
8,880
20,576
do
..__.. ..do.. ... 9,508
21, 989
10, 031
25, 219
11,304
5,237
2,397
5,288
2,339
5,019
2,574
4,990
2,545
5,472
2,505
5,610
2,427
5,917
2, 554
969
696
694
696
237
54
606
175
287
475
166
79
190
262
424
135
189
220
'211
113
-1,092 -2,305 -1,868
-1,111 -339
-893
-226
-214
96
-430
-221
-460
-944
-118
-1,284
-11
114
-267
-191
57
r
-334
Total, net receipts or payments (— )
do
-440
-2,203 -2, 644 -2, 761
Net receipts or payments (— ), incl. transactions in
nonmarketable, medium-term convertible Govt.
— 1 Q49 — 91 38fi
securities
mjl $
r
Revised.
* Preliminary.
1
Estimates for Jan.-Mar. 1965 based on anticipated capital expenditures of business.
2
Estimates for Apr .-June 1965 based on anticipated capital expenditures of business.
Anticipated expenditures for the year 1965 are as follows (in bil. $): All industries, 50.17;
manufacturing, total, 21.53; durable goods industries, 10.71; nondurable goods industries,
10.83; mining, 1.31; railroads, 1.62; transportation, 2.57; public utilities, 6.56; commercial and
other (incl. communications), 16.58; 3 Includes communications.
-681
-1,062 -1,295
-153
-134
r
'148.85 2 49. 65
' 20. 95
21.30
' 10. 60 10.60
'10.40
10.70
'1.20
'1.75
'2.50
6.40
1.30
1.45
2.75
6.45
'316.00 3 16. 40
r 6, 108
1,280
1,030
'12.84 'U0.85 2 12. 72
Imports :
Merchandise
Military expenditures
Remittances and pensions
Govt. grants and capital outflows
U.S. private capital (net)
Direct investments
Long-term portfolio
Short-term
U S receipts recorded
Exports:
Merchandise
Services and military sales.
Repayments on U.S. Govt. loans
_do_...
Foreign capital other than liquid funds (net)_do____
Excess of recorded receipts or payments (— )_._do
Unrecorded transactions (net) - _ _
do
717
r 1, 672
r 4, 605 ' 4, 716 ' 4, 901
668
'694
728
r 1, 706 ' 1, 728
1,763
'206
'212
197
928 r 1, 103 ' 1, 098
r 1,359
r 1,406
'•SIS
'236
'610
' 9, 308 '
'568
'283
'555
215
1,148
' 1, 578 2,017
639
'577
840
'597
'404
538
9, 124 ' 9, 614 9,867
'6,053 ' 6, 372 '6,686
' 2, 876 ' 2, 785 ' 2, 875 2,768
'190
'177
101
312
'19
-138
' -630 '-412
'-31 '-247
-845
-477
-119
' -661 '-659 '-1,322
'192
94
-712 -1,143
22
-109 '-119 ' -539 ' -456 -1, 272
< Uitiadjustec 1. Data represen t firms i n operati on as of Jan. 1; estimate for Jan. 1, 1963
fSee correspond ng note on p. S- 1 (revisioQsforqtrs.ofl961
is based on in complete data.
appeair on p. 8 ft. of the July 196 4 SURVE Y).
§Personal sa ving is e xcess of clisposable income over pe rsonal c<msumption expenditures
showia as a cornponent of gross n ational iwoduct o n p. S-l.
cf IVlore coniplete d(i tails are given iii the qu arterly r eviews in the IVEar., June, Sept .,
and I Dec. issue s of the kSURVEY.
JR(jvised da ta for 196 0-61 app ear on p. 10 of the June 19(54 SURVE Y.
SUEVEY OF CURRENT BUSINESS
March 1 6
95
1963
Unless otherwise stated, statistics through 1962
and descriptive notes are shown in the 1963
edition of BUSINESS STATISTICS
1964
1964 P
Monthly
average
S-3
Jan.
Feb.
Mar.
Apr.
May
June
1965
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.*
GENERAL BUSINESS INDICATORS—Monthly Series . v
PERSONAL INCOME, BY SOURCEf
Seasonally adjusted, at annual rates:f
Total personal income
•— —
oil. *—
1
464.1 i 491. 4
Z477.3
479.4 , 480.5
482.9
486.6
487.8
489.3
491.4
494.9
497.9
498. 7
502.3
505.9
2
508.2
' 510. 2
510.7
do
312.1
331.6
320.8
323.6
325.1
327.7
328. 7
330.1
331.8
334. 6
337.2
337.3
340. 4
342. 6
•• 344. 7
346.9
Commodity-producing industries, total.do
Manufacturing only
do
Distributive industries
do
123.3
98.0
80.3
129.8
103. 0
84.9
125.6
100.0
82.4
127.1
100.7
82.8
127.4
101.1
83. 1
128.8
102.3
83.7
128.7
102.3
84,2
129.4
102.7
84.6
129.9
103.0
85.2
130.8
103. 8
85.7
132. 1
105.1
86.3
130.7
103.4
86.8
133.2
105.6
87.3
134.6
106.8
87.7
'135.6
' 108. 0
' 88. 2
136.6
108.8
88.8
49.3
59.2
13.1
52.6
64.2
14.1
50.8
62.1
13.6
51.4
62.4
13.7
51.9
62.7
13.8
52.1
63.0
13.9
52.3
63.4
14.0
52.4
63.8
14.1
52.6
64.1
14.2
52.9
65.1
14.2
53.4
65.4
14.3
53.7
66.0
14.4
53.9
65.9
14.5
54.1
66.2
14.5
'54.4
66.5
14.6
54.8
66.8
14.7
37.6
13.0
39.3
12.7
38.3
12.8
38.7
12.6
38.8
12.4
39.0
12.5
39.1
12.6
39.3
12.6
39.5
12.4
39.6
12.6
39.7
12.7
39.8
12.7
39.9
12.9
40.1
13.1
40.3
'12.7
40.4
12.3
12.3
18.0
32.9
36 7
12.4
19.8
36.0
38.2
12.4
19.3
34.7
2
39. 7
12.4
19.4
35.0
37. 5
12.4
19.6
35.3
37.8
12.4
19.8
35. 5
38.2
12.4
19.8
35.7
38.0
12.4
19.9
35.9
37.6
12.4
20.0
36. 0
37.8
12.4
20.0
36.2
38.0
12.4
19.9
36.5
38.0
12.5
19.9
36.7
38.3
12.5
19.9
36.9
38. 4
12. 5
20.6
37.2
38. 5
12.5
20.4
37.4
2
40. 8
12.5
20.6
37.6
38.9
12.7
13.1
Wage and salary disbursements, total
Proprietors' income:
Rental income of persons —
Dividends
Personal interest income
—
.__-_— do
do
do—
Less personal contributions for social insurance
Total nonagricultural income
-do
11.8
446. 6
12.2
12.3
12.4
12.5
12.5
12.6
12.7
12.8
12.9
12.9
13.0
13.2
13.2
474. 2 2462.1
463.5
466. 1
469.7
470.7
472.1
474.4
477.8
480.6
481.4
485.0
488.6 '2493.2
494.1
3, 243
2,511
2,610
2, 533
2, 314
2,512
2,726
3,431
3,743
5,240
4, 208
3,635
3,369
2,434 2,294
723
781
1 653 1,571
452
427
931
819
260
256
2,495
970
1,525
418
827
254
2,683
1,121
1,562
400
873
272
2, 925
1,315
1, 610
396
902
296
3,486
1 717
1, 769
388
1,054
308
4,603 4,103
2 620
2 324
1*983
1 779
420
'409
1 216 1 052
330
306
3, 585
1 914
1 671
427
933
288
3,283
1 630
1 653
430
932
255
FARM INCOME AND MARKETINGS!
Cash receipts from farming, including Government
payments (48 States), total!.. mil. $.. 3,218
Farm marketings and CCC loans, total
do
Crops
do
Livestock and products, total 9 - do
Dairy products
-do
Poultry and eggs
....
do
Indexes of cash receipts from marketings and CCC
loans, unadjusted:!
All commodities
_ _ _ _ 1957-59=100..
Crops
- do
3, 077
1 420
1 657
403
952
275
3,062
1,402
1,661
415
939
279
3,454
2,354
3,373
870
1 692
1 681 1 484
398
417
950
809
277
241
2,414
773
1,641
432
899
262
115
124
108
114
122
108
126
148
109
88
76
96
90
68
107
91
68
107
85
63
102
93
85
99
100
98
101
109
115
105
130
150
115
115
118
113
118
117
118
128
145
115
89
70
103
90
56
115
91
52
120
88
48
117
101
84
114
110
107
112
117
120
114
133
149
122
221
141
124.3
132.0
125. 7
128.3
129.0
131. 7
132.3
133.9
127.6
132.9
136.5
135.0
' 135. 9 ' 135. 2 ' 136. 2
139.1
124 9
124 5
125 3
107 9
140.0
132 9
133 2
132 4
110 9
150 5
125.8
126 7
124 7
107 9
129.1
129 5
128 5
108.3
130.0
131 3
128.4
107.6
133 0
134 1
131 7
109 8
133 7
134 8
132 3
111 7
135. 2
136.4
133.6
112.6
127.9
128 8
126 7
107 0
133 1
129 6
137 4
113 0
137 4
136 8
138 2
113 3
1O.fi ft
r 137 4
r 10,8 fi
r 1 Q,P\ 8
14ft 4
140. ft
-107 o
124 9
125 2
134 4
122.3
124.2
131 5
131 3
142 1
127.8
132. 0
126 7
126 1
138 7
122.1
128.0
128 5
128 9
144 4
124.0
127.5
128.5
127 7
144. 1
122.5
130.1
130 7
130 3
148 3
124.6
131.5
130 5
130 0
145 9
124.9
131. 8
133.3
133 2
149 6
127.9
133.5
127 5
126 3
128 6
125.6
130.1
131 4
131 5
117 1
136.1
131. 1
136 1
137 1
144 0
135! o 136.2 129.1 ' 125. 2
134.0 , 132.4 '135.7 '139.0 ' 1.38. 0
do_.-.
do
do
123.7
121.2
126 3
132 5
131.0
134 0
124 9
121.1
128 8
12S. 1
125. 3
131 0
129.6
127. 4
131.8
132.6
131. 2
134 0
133 9
133.9
133 9
134. 5
134.9
134 1
127 8
127.7
127 8
134 2
132.6
135 9
136 8
136.3
137 3
IOC ft
do
124.3
131.2
Indexes of volume of farm marketings, unadjusted:!
All commodities
1957-59= 100..
Crops
do
171
228
153
203
116
133
167
108
122
142
175
157
196
128
137
161
119
127
143
115
ion
1 ft7
INDUSTRIAL PRODUCTIONd*
Federal Reserve Index of Quantity Output
Unadj., total index (incl. utilities) o71.. 1957-59=100..
By industry groupings:
Manufacturing, total
do
Durable manufactures
do
Nondurable manufactures
_ _do
Mining
•.— ' do
Utilities
_
—
do.—
By market groupings:
Final products total
Consumer goods
Automotive and home goods
Apparel and staples
Equipment, including defense
do
do ..
do
do
—do
Materials
Durable goods materials
Nondurable materials
Seas, adj., total index (incl. utilities)cf
By industry groupings:
Durable manufactures ?
Machinery
Nonelectrical machinery _ _ _ _ _
Electrical machinery.— —
Transportation equipment...
Motor vehicles and parts.
Aircraft and other equipment
do
do
do
do—
do
_do
.do
do
do
do— -
Instruments and related products. ...do
Clay, glass, and stone products
do.—.
Lumber and products..
________do
Furniture and
fixtures
do— .
Miscellaneous manufactures
do
Nondurable manufactures..
Textile mill products....
Apparel products. _.
Leather and products.
Paper and products
___.
' 131 0r -ton Q
' 111 9r i l l P,
m
__do
do—
do
do
do—.
o
r 1 Q4 fi
100 n
1 0.8 fi
r 19.4 8
r 1 ^9 f\
T 1 t(t\
1 fift
r 1 °.fi fi
r 1 O.K Q
fi
131.3 ' 135. 4 ' 135. 0
r 10,8 ft
r 1 Qfi 8
r 1Q.fi Q
134.9
139.4
10.Q fi
138
132. 0
127.7
128.2
129.0
130.5
131.3
131.6
132. 9
133. 8
134.0
132 9
128 5
129 1
129.9
131 4
132 2
132.4
133 9
134 5
134 9
124.5
113 3
109 6
126,7
123.4
120.2
133.2
128 2
128.9
117 6
114 5
139.9
129.0
126.0
130. 0
120.9
118 1
142.6
129. 3
127.8
131.6
123 8
123 7
138. 5
129.5
129.2
132.6
127 l
127 g
135.0
130.3
128.1
133.2
126.1
125 2
132.8
1.30. 6
129.6
135.0
131 2
130 4
135.9
133.3
131.2
135.7
132 8
132 2
133.0
134.8
131.0
135. 2
129. 4
137. 6
132.6
130.3
128.1
113 6
108 3
132.2
128.2
124.4
129 1
138. 5
134.3
131.7
144.6
133 9 ' 140. 3 ' 150. 9
140.2
130.7 ' 136. 9 ' 139. 9
135.8 ' 137. 2 ' 137. 4
128.6
143
141
129 2
126.9
132.3
141 0
141.8
140. 0
134 7
135. 2
134.0
133 6
132. 9
134.5
135.9
136.7
134. 9
137 5
138.1
136.8
138 5
139.6
137.0
140.1
141. 9
137.7
141 9
143.6
139.7
142 8
144. 1
141.1
145.0
142.9
148.2 ' 149. 8 ' 150. 8
145.4
143.8 ' 146. 3 ' 148. 5 ' 149. 1
151
151
127.0
146.1
109.5
130.7
150.1
112.4
130.8
151.9
111.1
131. 1
153.0
110.8
130.1
151.1
110.6
133. 0
156.2
112.0
134.1
157.4
112.8
134.9
158.3
113.4
134.3
158.6
111.7
135. 3
160.9
111.5
130.9
150.1
112.7
105.3
96 2
110.8
129.2 ' 140. 3 ' 141. 2
143. 9 ' 167. 4 ' 168. 7
114. 5 '115.0 ' 115. 6
130.2
117.5
108.9
133.1
125.0
136.4
126. 0
112.7
143.4
133. 3
132. 2
121.2
112.2
137. 3
128. 6
133.6
124.1
117.3
138. 1
129.7
134.2
125.3
116.1
139.0
130.4
134. 7
125.2
115. 4
139.8
131.4
134.6
124.3
114.9
140.5
131.9
134.8
126. 6
109.0
142.8
133.2
136.4
126.4
116.1
143.2
133. 8
137.4
125.6
114.1
144.4
133.4
138.6
127.0
109. 7
144.1
132.6
137.6
126. 9
110 8
147. 4
135. 9
140. 2
127.7
109.2
149.3
137.4
125.3
116.9
125.6
99.8
125.1
132.4
122.8
134.0
100.7
133.4
128.9
118.8
129.4
97.8
128.7
129.4
119.8
131.7
99.3
129.1
129.8
118. 9
131.8
96.3
130.4
131. 1
119.4
130. 5
98.4
132.9
131.7
119.3
132.8
104.7
134.3
131.5
119.2
133.8
97.3
130. 1
132.5
121.5
134.4
103.5
132.8
133.1
123.5
135.1
103.1
132.8
134. 4
125.8
135.8
100.3
135. 5
134. 5 ' 135. 2 ' 136. 9 '137.1
132.3
127. 5 ' 129. 6 ' 130. 9
137.2 ' 139. 1 140. 6
103.8
102.4
103. 2
139.3
137. 0 ' 133. 8
1 oe c
2
' Revised.
v Preliminary.
1 The total and components are annual totals.
Italicized totals for Jan. 1964 and Jan. 1965 exclude stepped-up rate of Government life'insurance
dividend payments to veterans; total disbursements of $172 million for 1964 and $165 million
for 1965 put on annual rate basis (multiplied by 12) amounted to $2.1 billion (Jan 1964) and
$2.0 billion (Jan. 1965). Figures for transfer payments and total nonagricultural income
reflecting similar exclusions are as follows (bil. $): Jan. 1964—37.6 and 460.1; Jan 1965—38 8
and 491.2.
fSee corresponding note on p. S-l.
^Revised series. Dollar figures and
r 14ft 4
124 9
__do
Iron and steel
Nonferrous metals and products
Fabricated metal products
Structural metal parts....
o
m8
14ft
me
r 1Qfi Q
' 135. 0 ' 137. 5 ' 138. 1
138.8
--JO.fi ft
r 1 Q.Q ft
14ft 0,
'136.7
'140.6 ' 141. 3
142.0
'
'
'
'
'
142. 0
130. 2
105. 5
151. 5
139. 1
141
168
116
146
' 131. 7
130
105.9
' 150. 7
152
' 140. 0 143
r 143. 0
138. 1
indexes of cash receipts revised beginning 1961 (indexes shifted to 1957-59 base). Physical
volume indexes revised beginning 1955 to reflect change to the 1957-59 reference base and
incorporation of latest Census revisions. Data prior to May 1963 appear in the Dept. of
Agriculture publication, Farm Income Situation, July 1964.
9 Includes data for items
not shown separately.
cfIndustrial production indexes revised beginning Jan. 1961
(seas, adjusted data incorporate new seasonal factors); data prior to July 1963 will be shown
later.
SURVEY OF CURRENT BUSINESS
8-4
1963
Unless otherwise stated, statistics through 1962
and descriptive notes are shown in the 1963
edition of BUSINESS STATISTICS
1964 f
Monthly
average
March 1965
1964
Jan.
Feb.
Mar.
Apr.
May
June
1965
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.?
GENERAL BUSINESS INDICATORS—Continued
INDUSTRIAL PRODUCTION—Continued
Federal Reserve Index of Quantity Output— Con .
Seasonally adjusted indexes©— Continued
By industry groupings— Continued
Nondurable manufactures— Continued
Printing and publishing
1957-59 = 100. . 116. 4
108.0
148,6
Chemicals and products. .
do
Industrial chemicals
do - _ 162.7
117.1
Petroleum products
do
123.2
117.0
159. 4
178.0
121.0
119. 5
113.9
154.7
173.1
116. 0
121.2
114.5
154.5
173.3
119.1
121.8
115.2
155. 2
174.9
119.7
123.6
117.2
157.0
176.7
120.8
123.9
117. 1
156. 7
173.7
122.0
124. 1
117.2
159.6
176. 3
122.1
124. 5
120.0
158.7
177. 1
124.6
124.3
118.3
160.8
178. 7
121.2
123.0
115.9
165. 0
184.9
120.4
123.6
116. 3
162.5
179.9
122.9
125.6
123.9
119.6
117.5
' 163. 0 r 164. 9
r
182. 6
185. 0
120.6
121.6
140.0
116. 9
116.8
117.8
115.2
155.7
120.6
120.2
123.2
120.8
145.0
120.8
121.3
118.4
112. 7
145.3
120.6
119.8
125.0
105. 6
145.1
120.3
119.7
123.8
118.2
149.4
120.6
120.0
124.1
127.5
152.2
120.0
120.2
119. 2
129.2
153.4
119.6
119.5
120. 1
118.1
155.2
120.0
118.9
125.8
127.5
158. 2
120.4
119.1
127.6
121. 4
162.4
120. 0
119.1
124. 6
120. 6
161.0
120. 7
120.2
123.3
123. 3
r
160. 5
122.8
122.6
124.1
121.0
165. 7
r 123. 2
"•122.9'
107.9
102.5
107.9
108.1
112.3
112.1
110.9
104. 3
110.4
109. 8
117.3
118.7
108.8
104.0
108.3
108.5
116.4
113.5
108.9
99.2
109.1
107.8
118.8
114.7
108.8
94.5
109. 7
109.0
119.8
115.0
109.9
98.7
110.0
109.6
124.2
114.3
111.3
106. 1
110. 7
110.1
119. 4
116. 8
111.4
105.1
110.8
110. 2
119.2
119.2
110. 9
105.0
111.1
110.3
107.7
120.2
111.9
107.9
111.3
109.8
112.2
121.7
111.9
105.1
112.3
111. 1
111.3
119.6
112.0 ' 112. 7
109.2
108.7
111.1
110. 4
110.8
110.2
127.1
115.7
123.9
119.7
'112.3
107.2
r 110. 7
' 110. 9
r 121. 8
123.4
-_do_. __
-do
do
140.0
142.6
131.9
150.5
153.6
140.7
147. 5
151.3
138. 9
148.3
152.3
' 139. 7
149. 7
153.6
' 140. 5
151.4
155.5
141.6
154.5
159.3
142.4
153. 2
157.2
143.0
153.8
157.4
r 152. 3
155.0
'154.7 ' 155. 5
158.1
156.5
do
do
do__
124.9
125.2
134. 4
131. 5
131.3
142.1
128.5
128.9
139. 7
128.1
128.8
140.7
128.7
128.8
139. 7
130.6
130.8
142.4
131.1
131.0
142.9
131.7
131.5
143.5
132.3
132.1
145.0
133.3
133.1
146.6
132. 5
132.0
141.8
130.3
129. 2
127. 3
134. 6
133. 6
' 145. 2
r 137. 4
r 137. 0
' 137. 3
' 137. 0
' 156. 6
138. 5
138.1
Automotive products
Autos
Auto parts and allied products
do
do;
do
141.2
149.5
130.2
145.1
150.6
138.0
146.6
155.3
135.2
145. 5
156.5
131.1
144.3
152.5
133.4
149.3
160.0
135.2
151.4
160.3
139.6
151. 7
161.7
138. 4
152.6
162. 6
139.3
155. 8
165. 0
143 8
144.7
146. 0
143.0
105.9
83.0
136.1
143. 0
145.1
140.2
r 166. 2
183.0
' 166. 0
'182.8
143.9
164
179
Homegoods9
Appliances TV and radios
Furniture and rugs
do
do
do
129.6
125.1
131.3
139.9
134. 2
142.4
134.8
127.5
136.1
137.3
131 3
138.1
136. 4
128 7
139 0
137.7
130 7
139 7
136.9
129. 7
141.0
137.8
131.0
141.9
139.7
131. 1
144.7
140.1
133 3
144 2
139.8
136 8
141 0
142. 4
139 0
145.5
150.0
' 146. 7 148. 1
' 143 2 ' 143 1
148 3 ' 149. 7 150.3
do_
do
do
do
122. 3
117.6
123.7
116.6
127.8
123. 8
128. 9
119.9
125.5
120.4
127.0
121.4
125.0
120.7
126.2
120.2
124.6
118 7
126.3
118 4
127. 2
121 5
128.8
120 8
127.2
123.2
128.3
120.2
127. 7
123.4
128.9
119.4
128.0
124.0
129.1
118.4
128. 9
124 9
130 0
118 7
128. 9
125 3
129.9
118 7
129. 8
126.6
130.7
120 0
' 129. 9
'127 5
130. 5
122 0
do
do
do __
do
116.9
140.1
117. 8
133. 5
122.4
146. 9
123.7
141 2
116.5
142.2
121.5
136.5
118. 5
140.1
123.7
134.7
121 9
140 1
125.1
136 2
125 2
142.8
126.7
138 5
122.6
144.5
124.7
138.7
119.4
150. 5
125. 5
140.6
126.4
146. 7
123.5
142 8
125 5
149 1
123 2
145 7
123 3
152 6
121-3
144 4
123 3
151.9
121. 8
145 8
123 1
149 7
122.8
142 4
124.2
128.3
123.0
142.4
132.2
121.6
132.0
139.0
136.9
145 3
141. 0
132.4
127.9
132.9
128.9
141.6
137. 0
131. 2
127.1
131.9
127. 9
140 4
137.8
126.0
128.8
134.2
131 9
141 0
135 8
127.6
130. 7
136.5
133.9
143 1
140 8
126.6
131.3
138.0
135.7
141.9
143.9
130. 7
132.0
139.0
137.6
143 7
141.3
129.1
132.7
140.0
138 5
145 7
141 9
127 9
133.6
141.6
139 6
145 5
144 9
139 9
133.7
141. 8
140 4
147 6
141 0
136 0
132.6
140.7
140.4
149 3
128 6
145.1
r 136. 8
146.2
144 5
151 0
149 1
138 0
do
- do. _
do
do
do
123.7
121.2
137.2
125.4
116.3
132 5
131. 0
145 4
134 2
124. 4
126 7
123.0
141.9
129. 2
119. 6
128 1
125.8
144 3
129 6
123.2
129 3
127. 3
141 9
130 4
123.4
130 6
129. 0
144 1
131 6
123 8
131.3
129. 8
143.8
132.9
123.5
131 8
130.8
148 1
133 3
122 8
133 6
132. 7
150 2
133 8
125 7
134 7
134.1
167 0
135 7
125 7
135 6
135.6
153 1
137 1
125 8
132 2
128. 1
113 2
137. 2
123. 8
r
do
do
__do_
do
126.3
120 3
120.2
120.4
134 0
127 1
127 7
126 9
130.4
124 4
125.1
124. 0
130 6
125 2
125 5
125 1
130 8
124 9
123 6
125 6
132 3
126 1
127 0
125 7
132.8
126.5
128.2
125.7
139 9
124 9
123 8
125 4
134 6
126 9
125 0
127 9
135 2
127 1
125 6
127 8
135 7
125 9
1^5 4
126 2
136 3
128 7
131 6
127 3
r
Business fuel and power 9- _ d o _ _ _ _ 117.2
122. 3
Mineral fuels
do_ __ 109 3
111 7
Nonresidential utilities
do
138.7
149 4
BUSINESS SALES AND INVENTORIES §
Mfg. and trade sales (seas, adj.), totaltf
mil. $__ i 68 002 172 647
119. 1
110 2
142.7
118.7
109 3
143 5
118.7
108 9
144 5
120. 7
110 3
147 9
122. 2
112.1
148.9
122.7
112 2
149 7
123.0
112 4
149 8
123.4
112 7
150 9
123. 7
113 0
150 6
123.9
113 3
150 6
70, 992
71 013
70 649
71 787
72, 660
7° 187
73 693
73 204
73 371 ••76 277
76 056
36 791
19 023
17 768
07 I R Q
73 358
07 019
72 131
07
18 102
1 Q 1 fid
1 8 004.
1Q 984.
18 098
36 811
18 633
18 178
37 514 r39 318
19 291 '20 559
18 223 '18 759
39 052
20 556
18' 496
21
7
14
13
5
7
21 935
7* 060
14 875
13 795
5 800
7' 995
99 9fifi
7 394.
99 9f>4,
7 cxi
14 942
13 770
5 848
7 922
14 713
21
Q
14
13
5
8
21 661 '22 781 92 881
7 840
6*695 r 7 645
14* 966 '15 136 15 041
14 196 ' 14* 178 14 123
6 007
5 977 r 5' 982
8 219 ' 8 197 8 117
Rubber and plastics products
Foods and beverages
Food manufactures - - Beverages
Tobacco products
do__
do
do
do
do____
Coal
______
Crude oil and natural gas
-do
__do
IVtetal mining
Stone and earth minerals
Utilities
Electric
Gas
do
do
—
By market groupings: ©
Final products total
Consumer goods
Automotive and home goods
Apparel and staples
_-_ _Apparel incl knit goods and shoes
Consumer staples
Processed foods
Beverages and tobacco
Drugs soap and toiletries
Newpapers, magazines, books
Consumer fuel and lighting
Equipment, including defense 9 _ _ _ _ _ _ -do
Business equipment..
do__-_
Industrial equipment
_ _ d o __
Commercial equipment
do
Freight and passenger equipment do
Farm equipment
__
do_ __
Materials
Durable goods materials 9
Consumer durable
Equipment
_
Construction
_
_
:
-
Nondurable materials 9
:_
Business supplies
Containers _
General business supplies
__
Manufacturing, total t
Durable goods industries.
Nondurable goods industries
Retail trade, total i
_ __
Durable goods stores. _ _ _ _ _
_
Nondurable goods stores
Merchant wholesalers, totalf cf
Durable goods establishments...
Nondurable goods establishmentsd"
do
do
do
34 774
18 071
16 704
do
do
do _
_.do
do
- do
20 536
6 675
13 861
12 692
5 244
7 448
Retail trade, totalf
__
Durable goods stores
,__ _
Nondurable good s stores.
Merchant wholesalers, totalf cf
Durable goods establishments-—.
Nondurable goods establishmentsc?
37 129
19 231
17 898
36 235
19 027
17 208
36 222
18 887
17 335
37 167
19 359
17 808
37 186
19 138
18 048
21
7
14
13
5
7
21 000
6 855
14 145
13,315
5 436
7, 879
21 533
7 262
14 271
13 245
5 548
7 696
21
6
14
13
5
7
21
7
14
13
5
7
21 777
7 218
14 559
13, 697
5 766
7 930
802
093
709
715
749
967
223
939
284
204
560
644
392
010
382
228
506
722
105,432 105 428
105 721
106371 106507
773
002
771
623
749
874
QCO
1 Q 8fi1
13' 792
5 77R
8 01fi
383
496
887
937
801
136
135 7
r 134. 5
r 146 7
138 9
126 6
137 o
r 128 9
r 132 1
'127 3
123.9
r H2 g
r 151 4
60,147
36 028
24, 119
62 944
38 412
24 532
60,006
35 970
24, 036
60 123
35 960
24 163
60 326
36 079
24, 247
60 531
36 277
24, 254
60, 528
36 300
24, 228
60 398
36 492
23 906
60 488
36 597
23 891
60 763
36 790
23 973
61 019
07 007
23 982
do
do
do
_ do
do
do
29 383
12 509
16 874
15, 597
8, 447
7. 150
29
12
17
16
9
7
29 608
12 666
16 942
15, 818
8,569
7.24fl
9Q ^8fi
29 661
12 913
16 748
15 734
8 478
7 25fi
29 961
13 045
16 916
15 879
8 519
7.360
29 926
13 024
16 902
16 053
8,618
7 435
30 180
13 079
17 101
16 043
8 740
7 304.
on i on
on QC7
1 9 7fi9
on noo r 90 31 4. r 9Q 339
1 9 Bfi7
12 076 12 066
r
17 215 '17 238 !7 °66
621
220
401
461
077
384
12 708
16 878
15 719
8 559
7 im
128
120.9
123. 4
123.2
125.4
155. 5
r 144. 0
' 112. 4
' 107. 7
' 110. 9
110. 6
124.4
121.2
r 131. 0
128.9
' 131. 7 ' 132. 2
' 122. 5 123. 1
r
151. 8
r 124. 3
143 2
'138.3
r 148. 4
' 145. 9
r 152 4
'155 2
112.5
103
11
1
110
157
133
153.3
126. 1
'138.0
147. 4
144. 6
152.6
154.2
139. 4
149
' 140. 5
r 137 8 ' 138 6 139 5
139
r 136. 2 '137.2
159.1
'155 5
142. 3
' 141. 3
127.1
' 127. 3
^139 4
r 133 o
r 135 3
' 131. 9
' 140. 6
134 3
138.9
132.0
141
r 125. 1
r H3 0
125.4
113 1
125
112
154 9
106621 106 634 106 716 107 323 r!07 367 r!08 093 '109 026 109 705
do
do
do
'Revised.
* Preliminary.
1 Total and components are based on unadjusted data.
©See note marked "cf" on p. S-3.
9 Includes data for items not shown separately.
§ 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 p. S-5; those for retail tr^de on p S-ll
/i I -ie J1^*6 ma£ked "t" on P. S-4 of the Nov. 1963 SUKVEY. fRevised series. For a
detailed description of the changes affecting these series and data for earlier periods, see
r
36 677
19 144
17 533
Mfg. and trade inventories, book value, end of year
or month (seas, adj.), totalf.
mil. $_. 105,127 109 026
Manufacturing, totalf
_
Durable goods industries
_
Nondurable goods industries
144.5
143.4
144.8
148.3
146.5
148.3
' 135. 5 ' 136. 9 ' 138. 3
' 126. 7
' 120. 7
167.1
12 924
17 205
16 017
8 710
7 307
17 205
15 986
8 703
7*984.
16 222
8 871
7 3*9
61 777
37 517
24 260
16 276
8 949
7 398
62 377 '62 944
38 040 '38 412
24 337 '24 532
'29 621
'12 ^20
'17 401
16 384 '16 461
9 002 '9 077
7 .381 r 7 384
63 171
38 472
24 699
30 013
12 585
17 428
16 521
9 093
7.428
pp. 16-19 of the Dec. 1963 SURVEY; see p. 28 of the Sept. 1964 SURVEY for current revisions
(Jan.-June 1963) affecting the retail inventory and total manufacturing and trade inventory
series.
cf Total manufacturing and trade sales and inventories and merchant wholesalers
sales and inventories have been expanded to cover all merchant wholesalers, including wholesalers of farm product raw materials; also, seasonally adjusted data beginning Jan. 1960 for
merchant wholesalers' sales and inventories revised to reflect new seasonal and trading day
factors. Revisions for earlier periods appear on p. 24 of the May 1964 SURVEY.
SUEVEY OF CUEEENT BUSINESS
March 1 6
95
Unless otherwise stated, statistics through 1962
and descriptive notes are showm in the 1963
edition of BUSINESS STATISTICS
1963
1964
1964
Monthly
average
S-5
Jan.
Feb.
Mar.
Apr.
May
June
1965
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
GENERAL BUSINESS INDICATORS—Continued
BUSINESS SALES AND INVENTORIES— Con.
Inventory-sales ratios:
Manufacturing and trade, totaU§.__—
ratio--
1.50
1.47
1.49
1.48
1.50
1.48
1.47
1. 48
1.45
1.46
1.46
1.49
1.47
1. 43
1.44
Manufacturing, total§ _
..
Durable goods industries—-.
Purchased materials
Goods in process
Finished goods.. .
do _ _
do. ____do
do
__ -do _ -
1.69
1.94
.59
.80
.55
1.64
1.92
.57
.79
.54
1.64
1.88
.57
.77
.54
1.66
1.89
.57
.78
.54
1.67
1. 91
.57
.79
.54
1.63
1.87
.56
.78
.53
1.63
1.90
.57
.79
.54
1.64
1.92
.57
.80
.55
1.59
1.84
.55
.77
. 52
1.63
1.92
.57
.81
.54
1.64
1.92
.57
.80
.54
1.68
2.01
.61
.84
.57
1.66
1.60
1.97 - r 1. 87
'.57
.60
.82
'.77
.56
.52
1.62
1.87
.57
.77
.52
Nondurable goods industries
Purchased materials
Goods in process
Finished goods
_do._--_ do.
;do
do
1.41
.59
.20
.63
1.35
.53
.19
.62
1.37
.55
.20
.62
1.40
.56
.20
.64
1.40
.56
.20
.64
1.36
.54
.19
.63
1.34
.53
.19
.62
1.35
.53
.19
.62
1.32
.51
.19
.62
1.33
.52
.19
.62
1.33
.52
.19
.62
1.33
.53
.19
.62
1. 34
.53
.19
.61
1.31
.51
.19
.61
1.34
.52
.19
.63
Retail trade, total! §.___
do
Durable goods stores
-- do__ Nondurable goods stores
do
Merchant wholesalers^ total §cf
do
Durable goods establishments
do
Nondurable goods establishments d"-~ -do— MANUFACTURERS' SALES, INVENTORIES,
AND ORDERS
Manufacturers' export sales:*
Durable goods industries (unadj.), total___mil. $__
1.39
1.79
1.20
1.18
1.58
.90
1.37
1.79
1.16
1.17
1. 51
.92
1.41
1.85
1.20
1.19
1.58
.92
1.37
1.75
1.18
1.19
1.54
.93
1.40
1.86
1.17
1.19
1.52
.95
1.40
1.86
1.18
1.20
1.55
.95
1.37
1.80
1.16
1.17
1.49
.94
1.39
1.87
1.16
1.18
1.52
.93
1.37
1.83
1.16
1.16
1.50
.91
1.35
1.74
1.15
1.16
1. 49
.92
1.35
1.71
1.17
1.18
1.54
. 92
1.37
1.86
1.16
1.17
1.54
.90
' 1. 35
1.80
1.15
1.15
1.51
.90
'1.36
'1.60
1.15
' 1. 16
'1.52
' . 90
1.31
1.61
1. 16
1.17
1.51
.92
778
693
Shipments (not seas, adj.), totalf
Durable goods industries, total 9
Stone, clay, and glass products
Primary metals
Blast furnaces, steel mills
Fabricated metal products
678
756
'(578
716
781
804
799
681
760
762
'839
622
34, 774
37,129
34,110
36,818
37,069 38, 091
37, 465
38, 622
34, 774
36,001 38,874
38,397
37,700 '37,631
36, 539
do
18, 071
947
do
2,944
do
1,586
__do
do__ _ 1,877
19, 231
960
3,236
1,770
1, 962
17,595
788
2,967
1,591
1,777
19, 208
842
3,158
1,715
1,911
19,471 20,242
873
987
3,223 3,370
1, 737
1,843
1,906
1,989
19, 781
1,017
3,318
1,815
1,975
20, 542
1,070
3,333
1,775
2,075
17, 895
984
2,983
1,668
1,911
17,707
1, 040
3,111
1, 745
2,029
19,243
1,066
3,337
1,828
2,047
19,363 '19.969
964
'837
3,354 '3,347
'1,854
1,853
1, 904 '1,931
19, 057 120,900
809
3,346 13,600
1,945
1,758
3, 114
2,957
2,939
2,605
2,440
2, 498
5,431
5, 304
5, 619
3,748 3,495 3, 563
604
656
609 .
17,849 17,684 18,080
6,247 6,429
6,101
425
399
379
1,506
1,428
1,463
1, 427 1, 390
1,468
2,953 2, 854
2, 992
1,501
1,540
1,484
863
910
901
37, 167 37, 186 36, 791
2,683
2,305
4,387
2, 762
590
16, 879
6,104
403
1,298
1,332
2, 597
1,516
759
37, 963
2,610
2,834
2,781
2,452
2,660
2,670
3,572
4,801
4,331
1,961
3,040
2,618
656
636
680
18,294 19, 115 19, 154
6,422
6,769
6,795
413
416
392
1,523
1,611
1,640
1,518
1, 458
1,517
2, 778
2,987
2,931
1, 535
1,551
1,542
895
836
898
37,168 37, 312 36, 811
2,726 '2,883
2,721
2,610 '2,635
2, 429
5,006 '5,646
5,388 i 5, 900
3,266 ' 3, 744 3,682
654
'691
600
18,337 '17,662 17, 482
6,433 '6,346
6,192
407
364
'419
1,596 '1,494
1,467
1,470
'1,433 1,444
2,741
2,761 '2,606
1,547 '1,560
1,544
852
'862
834
37,514 '39,318 39, 052
19, 359
952
3,174
1, 719
1,943
2,738
2, 530
5,231
3,468
616
17, 808
6, 202
394
1,472
1, 404
2,827
1,520
873
19,138
929
3,154
1,732
1,906
2,782
2,530
5,056
3,272
611
18, 048
6,325
389
1,481
1,395
2,818
1, 546
853
19,023
940
3, 102
1, 653
1,908
2, 838
2,470
5,036
3,271
619
17, 768
6, 279
397
1,432
1,399
2,736
1,532
848
19,861
932
3,447
1,961
2,040
2,936
2,622
5, 008
3,230
663
18, 102
6,310
389
1,513
1,468
2,820
1,539
841
19,164
921
3,216
1,770
1, 914
2, 780
2,501
5, 102
3,408
661
18,004
6,478
395
1, 459
1,420
2,793
1,517
854
19, 284
962
3,301
1,786
1,970
2,848
2,481
4,968
3,213
613
18,028
6,400
404
1,478
1,451
2,808
1,541
866
18,633
960
3,329
1,843
1,924
2,851
2, 536
4,212
2,446
659
18, 178
6,500
392
1,505
1,461
2,845
1,533
834
19,291
984
3,434
1,933
1,937
2,878
2,508
4,747
2,975
638
18,223
6,414
390
1, 550
1,484
2,858
1, 552
875
3,415
7,766
4,572
3,879
2, 916
14, 619
3, 524
7,865
4, 618
3,676
2,934
14, 569
3,459
7,802
4, 582
3,677
2,906
14,365
3, 563
7,919
4,778
3,622
3,045
15, 036
3, 430
8,007
4,548
3,827
2,899
14,457
3,457
7,971
4,613
3, 629
2,979
14, 663
3,472
8,067
4,634
2,837
2,992
14, 809
3,521 ' 3, 713
7; 972 '8,298
4,657 ' 4, 791
3,387 ' 3, 936
3,017 ' 3, 154
14,960 '15,426
1,483
2,233
3,407
1, 482
2,198
3, 483
1,467
2, 160
3,506
1,550
2, 187
3,706
1,455
2,060
3,514
1,466
2, 150
3, 587
1,477
2,171
3,621
1,497
2,129
3,630
'1,621
' 2, 185
' 3, 732
1,582
2,246
3,813
60,807
36,608
24, 199
60, 531
60, 950
36, 785
24, 165
60,528
60, 704
36, 81 5
23, 889
60, 398
60, 214
36, 451
23, 763
60, 488
60,458
36,684
23,774
60,763
60, 658
36, 856
23, 802
61, 019
61, 433
37, 251
24,182
61, 777
62,058
37,647
24,411
62,377
62, 642
38, 001
24, 641
62, 944
63, 251
38, 378
24, 873
63,171
__ __do _
__ __
Machinery, except electrical
do
2,517
2,808
2, 489
2,784 2,896
Electrical machinery __
_ _do
2,517
2,254 2,523 2,555
2,398
Transportation equipment __ .. _ _ _ _ _ _ _ do _ 4,848
4,969
4,940 5,306
5,285
3, 204
Motor vehicles and parts
do— __ 3,154
3,311 3, 455
3, 487
Instruments and related productsdo
583
627
537
611
599
Nondurable goods industries, total 9
do___- 16, 704 17, 898 16,515 17,610 17, 598
6,324
Food and kindred products
do
5,832
5,946 6,171 6, 120
Tobacco products _- - do
391
339
383
333
368
Textile mill products _
do
1, 484
1,457
1,315
1,378
1,477
Paper and allied products
__—
do.-— 1,355
1,426
1, 302
1,398
1,403
Chemicals and allied products
do
2,798
2,573 2,743 2,803
2,568
Petroleum and coal products
do._
1,492
1,451
1,516
1,498
1,421
Rubber and plastics products ...__-_do
772
851
767
836
833
Shipments (seas, adj.), totalf— --do
36, 677 36,235 36, 222
By industry group:
Durable goods industries, total 9
do .._
19,144 19,027 18,887
Stone, clay, and glass products.
do —
1,018
999
940
Primary metals
.--- do
3,067 3, 034
3,032
Blast furnaces, steel mills
do__ _
1, 605 1, 649
1,615
Fabricated metal products.
-___do _..
1, 994
2,011
1,967
Machinery, except electrical
do
2, 737 2, 674
2,696
Electrical machinery
do
2, 479
2,463 2,505
Transportation equipment.
do
5,117
5, 075
5,018
Motor vehicles and parts
do _
3,297 3,331 3,310
Instruments and related products __ do _ _ _
606
593
606
Nondurable goods industries, total 9
do_— _
17,533 17, 208 17, 335
Food and kindred products
do. _
6, 247
6,049 6, 131
Tobacco products
.do
365
353
387
Textile mill products
__. __ do .
1,465 1, 405
1,460
Paper and allied products
do _.
1,368
1, 362
1,363
Chemicals and allied products.
do.~_
2,703 2,735 2,746
Petroleum and coal products
do___
1,455
1,474
1,445
Bubber and plastics products. _ _ _ _ _ _ _ _do-_815
836
811
By market category:
2
Home goods and apparel
do
3,519 3,395 3,387
3, 313 2 3, 479
Consumer staples
d o _ _ _ 2 7, 258 2 7, 866
7,686 7, 496
7, 607
2
Equipment and defense prod., excl. auto_do
4,566 4,483 4, 445
4, 242 2 4, 599
2
Automotive equipment
_
do
3,728 3,716
3,710
3, 571 23,612
2
Construction materials and supplies
_do
3,002 3,119 2, 967
2, 796 2 2, 990
Other materials and supplies
_ _ _ _ _ _ _ _ d o _ _ _ _ 13, 594 14, 583 14,194 14, 014 14, 100
Supplementary market categories:
Consumer durables
_ _ d o _ _ _ _ 2 1, 380 2 1, 492
1, 468
1,469
1,476
2
Defense products
____
do
2,181 2, 095
2,231
2, 096 2 2, 163
Machinery and equipment
_.
__do____ 2 3, 215 2 3, 528
3, 428 3,344
3, 409
Inventories, end of year or month :f
Book value (unadjusted), total
.-_do
59,738 62, 642 60, 109 60, 501 60, 661
Durable goods industries, total
do
35, 565 38, 001 35,890 36, 188 36,394
Nondurable goods industries, total
do
24, 173 24,641 24, 219 24, 313 24, 267
Book value (seasonally adjusted), total. _.__do_-- 60, 147 62, 944 60, 006 60, 123 60, 326
By industry group:
* Durable goods industries, total 9— _-_do__- 36, 028 38,412 35, 970 35, 960 36, 079
Stone, clay, and glass products
do
1,544
1,535
1, 587
1,539
1,536
Primary metals....-______do
5,918
5,923
5,929
6,111
5,972
Blast furnaces, steel mills
do
3, 533
3,526 3,561
3,707
3,534
Fabricated metal products
do
3,999
4, 251
3,971 3, 965
3,978
Machinery, except electrical
:__do_.._ 6,910
7,558
6,926 6, 869 6,891
Electrical machinery
do.—
5,055
5,388
5,073 5,088
5,039
Transportation equipment
.do. _ > _ 7,331
7,272
7,908
7, 359
7,425
Motor vehicles and parts..
do
2,610
3, 013
2,614
2,663 2,702
Instruments and related products._do
1,468
1,619
1, 480
1,477
1,503
r
2
Revised.
i Advance estimate.
Based on ( Jatanot j5easonall y adjuste d.
3'
and components are end-of-year data. t See note mgirked "f ' on p. S-4 of Nov. 1963 SUBTotal
VEY.
§ See note marked "f" on p. S-4. tf See corres]3onding note on i). S-4.
*New series. Represents estimated total value o f durab e goods products direct!17 exported by durable goods manufacturers; data prior to Oct. 19(>2 are no t available. fRe cised
series. Effective with the Dec. 1963 SURVEY, data rei
lect the i ollowing major cl anges: I ntroduction of the Annual Survey of Manufactures as thej new beiichmark revision of samp] ede-
19, 759
1,057
3,331
1,812
2,094
782
'20,559 20, 556 120,500
'1,022
1,034
'3,656
3,456 i 3, 400
' 2, 074 1,976
' 2, 077 1,959
2,997
'2,977
2,681
' 2, 597
' 5, 341
5,453 V5,600
'3,502
3,578
'641
674
'18,759 18, 496
6,455
' 6, 629
402
'429
'1,614
1,630
'1,532
1,520
2,871
'2,917
' 1, 525 1,523
'922
893
3,669
8,106
4,926
3,983
3,169
15,199
36, 277 36,300 36, 492 36, 597 36,790 37, 037 37, 517 38,040 38,412 38, 472
1, 551
1,579
1, 595
1, 574
1,572
1,586
1,593 ' 1, 587 1,593
1,595
5, 954
6,014
6,019
6, 001
6,063
6, 132
6,096
6,056
6,153 '6,111
3,547
3,594 3,628
3,609
3,688 3,714
3,729
3,670
3,776 '3,707
3,971 3,951
3,962
3, 992
4, 301
4,042 4,062
4,006
4,149 '4,251
6,963 7,035
6, 955
7,070
7,277
7, 161
7,381 7,514 ' 7, 558 7, 587
5,062
5,094
5,061
5,069
5, 086
5,147
5, 221
5,307 ' 5, 388 5,405
7,389
7,446
7,428
7, 497
7, 711
7,539
7,850
7,531
7,810 ' 7, 908
2,713
2,716
2, 716
2,825
2,782
2,796
2,975
3, 059 ' 3, 013 2,980
1,540
1, 527
1,540
1,534
1,584
1, 556
1,572
'1,619
1,625
1,533
sign, njfinemen ; of industryrepor ting, exp ansion of industryf groups imblished , and rev isionof
season al factors . In addition, dai a by mar ket grou pings are presente d for the first timei. Data
for shi pments a nd new (>rders no ; seasonally adjus ted are a djusted f or tradin g day variation.
Revisions back to 1947 a nd a deta iled description o : the curr ent-revision appe ar in the Census
Bureaii publications, ' Manufac jturers' Shipmen ts, Inveiitories, £ind Ord 3rs: 1947--63 Revised, Series M 3-1" and "Series M3-1, Su pplemen t 2."
9In eludes da ta for items not silown sep arately.
SURVEY OF CURRENT BUSINESS
S-6
Unless otherwise stated, statistics through 1962
and descriptive notes are shown in the 1963
edition of BUSINESS STATISTICS
1964
1963
End of
year
March 1965
1964
Jan.
Feb.
Mar.
Apr.
May
June
1965
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
GENERAL BUSINESS INDICATORS—Continued
\
MANUFACTURERS' SALES,INVENTORIES,
AND ORDERS— Continued
Inventories, end of year or month f— Continued
Book value (seasonally adjusted)— Continued
By industry group — Continued
Durable goods industries— Continued
By stage of fabrication:
Materials and supplies 9 _
mil. $__
Primary metals
..
___ do
Machinery (elec . and nonelec.) —do
Transportation equipment _ _ _ do
\V~ork |ji process 9
do
Primary metals
do
Machinery (elec. and nonelec.) _._do
Transportation equipment
do
Finished goods 9
- do
Primary metals
do
Machinery (elec. and" nonelec.) —do
Transportation equipment
do____
Nondurable goods industries, total 9 ---do
Food and kindred products
do
Tobacco products
do
Textile mill products
_ do
Paper and allied products
_ ____do
Chemicals and allied products
do
Petroleum and coal products
do
Rubber and plastics products
do
By stage of fabrication:
Materials and supplies _
do
Work in process
do
Finished goods
do
By market category:
Home goods and apparel
do
Consumer staples
do__ _
Equip, and defense prod., excl. auto
do
Automotive equipment
do
Construction materials and supplies
do
Other materials and supplies
do
Supplementary market categories:
Consumer durables
-- do
Defense products
-do
Machinery and equipment
do
New orders net (not seas adj ) totalf
do
Durable goods industries, total. _!
do
Nondurable goods industries, total
do
New orders net (seas adj.) totalf
do
By industry group:
Durable goods industries, total 9
do
Primary metals
do
Blast furnaces steel mills
do
Fabricated metal products
do
Machinery, except electrical
do_
Electrical machinerv
do
Transportation equipment___
_do___
Aircraft and parts
*.
do
Nondurable goods industries total
do
Industries with unfilled orders©
do
Industries without unfilled orderslf
do
By market category:
Home goods and apparel—.
__do
Equip, and defense prod., excl. auto
Automotive equipment _.
Construction materials and supplies
Supplementary market categories:
Consumer durables
do
do
do
__do___
Machinery and equipment _
do.__
Unfilled orders, end of year or month (unadjusted),
total t
mil $
0,879
2,259
3,009
1,956
4,857
1,901
5, 249
4,467
0,292
1, 758
3,707
908
24,119
6,028
2,314
2,886
1,800
3,818
1,736
1, 157
11, 688 0,827
0,792 10, 817
2,248 2,239 2,238 2, 256
3,263 2,989
2,992 2,973
2,216 1,958
1,952
1, 967
15, 933
4, 833 14 8SO 15, 001
2,024
1,900
1,903
1, 926
5,763 5,305
5,251
5,253
4,695 4,402
4,499 4,539
10, 791 10, 310 10, 288 10, 261
1,839
1,784
1,788
1,790
3,920 3,705 3,714
3,704
997
912
908
919
24, 532 4,036 24,163 24, 247
6, 030 6,052
6,195
6,136
2,359 2,357
2,374
2,344
2,837 2,846
2,821
2,839
1,885 1,792
1,792
1,797
4,003 3,872
3,894 3,902
1,745
1,786
1,775
1,801
1,176
1,127
1,125
1,129
9,769
3,479
10,871
9,619
9,666
3,522 3,452
11, 391 10,918
9,661
3,403
11, 099
6,389
9,525
12,363
3,245
5,290
23, 335
6,499
9,660
13, 241
3, 683
5,629
24, 232
6,242
9,597
12, 303
3,241
5,311
23, 312
3, 056
2,955
5,625
5,583
9,431
8, 539
35,036 i 37,697
18, 300 19, 803
16, 736 17, 895
35,036 3 37,697
10,917
2,219
3,055
1,918
15,442
2,034
5, 493
4,640
10, 431
1,803
3,699
973
23, 973
5, 910
2,263
2,803
1,859
3,936
1,733
1,154
11, 072 11,277 11, 500
2,219
2, 182
2,182
3,162
3,102
3,238
2,000
2,155
2,208
15,497 15, 622 15,799
2,050
2,011
2,088
5,636
5,570
5,717
4,623 4,602
4,623
10, 468 10, 618 10,741
1,864
1,833
1,883
3,804
3,752
3,866
954
916
979
23,982 24, 260 24,337
5,956
5,837
6,031
2,319
2,241
2,303
2,819
2,857
2,790
1,851
1,865
1,869
3,973 3,985
4,000
1,717
1,731
1,752
1,159
1, 176
1,191
9,632
3,446
11, 169
10, 828
0,866 10,870
2,249 2,243 2,-227
2,989 3,028
3,052
1,928
1,911 1,891
15, 127 5,211 15,325
1,970
1, 994
1, 969
5,348
5, 385
5,421
4,523
4,533 4,596
10, 345 10 415 10 402
1, 795
1,807
1,780
3,688 3,683
3,666
938
984
1,010
24, 228 23, 906 23,891
6,137
5,991
6,009
2,353
2,322
2,297
2, 768
2,754
2, 763
1, 801
1,812
1,836
3,935
3,910
3,934
1,767
1, 732
1,708
1, 133
1,127
1,137
9,528
9,534
9,432
9,293
3,452 3,422 3,406
3,459
11,261 11, 248 11, 052 11,192
9,351
3,426
11,196
9, 412
3, 457
11,113
9,565
3, 508
11, 187
9,637 r 9, 619
3,497 r 3, 522
11, 203 '11,391
6,231
9,730
12, 288
3,299
5,296
23, 279
6,226
9,780
12, 305
3,347
5,290
23,378
6,313
9,782
12, 370
3,359
5, 352
23,355
6,296
6,210
9,745
9,563
12, 361 12, 494
3,342 3,356
5,353
5,386
23, 431 23, 389
6,177
9,559
12,463
3,453
5,380
23,456
6, 276
9,407
12, 538
3,446
5,389
23, 707
6,316
9,339
12, 693
3,425
5,426
23, 820
6,358
9,525
12, 788
3,629
5, 500
23, 977
6,405
9,590
12, 978
3,720
5,533
24, 151
2,938
5,466
8,558
35, 010
18, 558
16,452
37,148
2,931
5,465
8,524
37, 539
19, 927
17, 612
36, 657
2,917
5,457
8,550
37, 508
19, 951
17, 557
36, 547
2,964
5,429
8,673
38, 517
20, 662
17, 855
38, 184
2,938 2,952
5,394
5,412
8,677 8,781
37, 859 39, 317
20, 095 21,249
17, 764 18, 068
37, 893 37, 782
2, 953
5,391
8,808
36, 367
19, 530
16,837
39,315
2,944
5,401
8,923
36, 190
17, 923
18, 267
37, 509
2,941
5,412
9,063
39, 361
20,239
19, 122
38, 018
3,001
5,411
9,161
39, 043
19, 863
19, 180
37, 846
3,037
5,455
9,321
37, 671
19, 277
18 394
37, 720
3,056
3,090
5,601
' 5, 625
'9,431 9,442
'37,986 37, 815
' 20,357 20, 320 221,800
' 17,629 17,495
' 39,590 39, 732
19, 803 19,740
3,442 3,147
1,942
1,641
2,018 2, 043
2,911 2,808
2,601 2,687
5,098 5,433
1,460
1,730
17, 895 17, 408
4,776 4,531
13, 118 12,877
19, 499
3,074
1,685
2,018
2,763
2,574
5,179
1,537
17, 158
4,486
12, 672
19, 262 20,461
3,103 3,641
1,675
2,077
2,007 2,071
2,771
2,938
2,547 2,520
5,164
5,607
1 421 1,605
17, 285 17, 723
4,552
4,678
12, 733 13, 045
19, 945 20,016
3,175
3,472
1,727
1,943
1, 968
2,013
2, 956
3,030
2,571 2,448
5,538
5,364
1,646
1,510
17, 948 17, 766
4, 739
4,694
13, 209 13, 072
21,254
3,539
2,077
2,069
2,909
2, 807
6,218
2,429
18, 061
4,887
13, 174
19,342 19, 907
3,847
3,280
2,296
1,825
2,045
1, 946
2,923
2,952
2 694
2 581
4,760
4,771
1,148
1,081
18, 167 18, 111
4,883 4,866
13, 284 13, 245
19, 623
3,767
2,203
1,991
2,994
2,542
4,544
1,654
18,223
4 894
13,329
19, 454
3 663
2' 072
2,011
2 971
2,763
4,283
961
18, 266
4,960
13,306
r 20,720 21,266 221,100
'3,821 3,732 23,700
' 2, 243 2,232
' 2, 089
2,067
' 3, 098 3,129
'2,637
2,898 2
'5,172
5,507 5,700
'1,227
1,426
' 18,870 18,466
'5,190
5,062
' 13,680 13, 404
3, 339
7,257
4,368
3,578
2,803
3,478
7,866
4,814
3,637
3,027
14, 876
3,444
7 7 fin
4,991
3,728
2,967
14,318
3,455
7,495
4,607
3 714
3,113
14, 273
3,444
7,593
4,495
3,797
2,983
14,235
3,396
7, 756
4,858
4,040
3,038
15,096
3,480
7,859
5, 323
3,641
3,017
14,573
3,402
7, 809
5,237
3,717
3,004
14 fil 3
3,585
7, 915
5,534
3, 717
3,086
15,478
3,535
8 022
4,671
3,745
2,911
14, 625
3,490
7,967
4,478
3,678
3,052
15,353
3,418
8,068
4,824
2,916
3,071
15, 549
3,489
7 972
4,586
3,289
3,043
15,341
3,634
' 3, 750
' 8, 303 8,122
4,914
'4,738
'3,984
4,084
' 3, 098 3,212
'15,717 15, 766
1,404
2,156
3,326
1, 493
2,260
3,706
1,420
2,673
3,617
1,520
1,485
2,367
3,610
1,492
3,413
1, 505
2,177
3,455
3,929
1,421
2 336
3,916
1,566
3,287
3,774
1,500
1,862
3,772
1,471
1,982
3,686
1,426
2,412
3,786
49, 149
55, 962
50, 049
50, 760
51, 199
51, 626
52, 018
52, 717
54, 313
54, 501
54, 990
55,637
18, 300
2,959
1,592
1,886
2,574
2,410
4,970
1,398
16, 736
4,411
12, 325
2
A(\-I
10, 830
2,280
2, 962
1,930
15, 112
1,902
5, 361
4,583
10, 335
1,772
3,726
933
24, 254
6,165
2,363
2,789
1,789
3,926
1,768
1,131
2
4.89
11,688
1,807
2,248 2,289
3,263 3,312
2,216
2,226
15,933 15, 904
2, 024
1,992
5,763 5,766
4,695
4,674
10,791 10, 761
1, 839
1,851
3,914
3,920
'997
950
24,532 24, 699
r 6, 030
6,193
2,359
2,316
2, 837
2,818
1,885
1,872
r 4, 003
4,041
'1,745
1,793
'•1,176
1,187
' 6, 499
'9,660
r 13,241
r 3, 683
r 5, 629
r 24,232
9,606
3,515
11,578
6,539
9,770 _ _ _ _ _ _ _ _
13, 236
3,668
5,627
24, 331
1,498 1,664
1,788 '1,873
3,882 ' 3, 917
1,588
2,333
4, 010
55, 605 ' 55,962
57, 235
54,304 255,300
Durable goods industries, total—
do__. 46, 193 53, 042 . 47, 154 47, 863 48, 341 48. 764 49,076 49, 785 51,422 51, 637 52,119 52, 742
2,931
2,864
2,942 2,932 2,891
2,895
2,87
Nondur. goods indust. with unfilled orders© _do___
2, 920 2,895
2,956
2,897
2,858 2,862
Unfilled orders, end of year or month (seasonally
' 57,044 57,191
adjusted), totalf.
.,
mil $ 49, 796 57, 044 50, 083 50, 586 50,69 51, 679 52, 004 52, 833 54, 075 54, 216 55, 042 56, 067 56,363
By industry group:
53,137 53, 40 ' 53,958 54, 145 254,800
52,13
Durable goods industries, total 9
do___ 46, 676 53, 958 47, 072 47, 644 47,80 48, 840 49, 225 50, 037 51,302 51,36
6,649 2 7, 000
6,37 '6,559
5,051
5,049
6,104
4,513 4,795
5,699
Primary metals
do.__
4,082 4, 485
4,169
6,559 4,022
3,930
4,387
4,12 '4,311
3,013
3,608 3,956
2,748 3,024
Blast furnaces, steel mills
do___
2,281
2,203 2, 525 2,540
4,311 2,168
2,120
4,76 ' 4, 811 4,849
4,52
4,451
4,475
4,565 4,663
Fabricated metal products
___do___
Q
4,099 4,190 4, 311 4,366
4,811 4,081
4,062
8,19 '8,302
8,062
7,79
7,421
7, 576
7,93
7,618
7,325
Machinery, except electrical.
do...
7,072
7,169
8,302 7,069
7, 027
8, 231 2
8,142 '8,103
7,924
7,402
7,79
7,913
7,646
7,413
Electrical machinery
do
7,383 7, 347
7,337
8, 103 7,153
7,114
21, 100
21, 346 20,86 ' 21,090 20, 93
20,97
20, 294 20, 443 20, 679 21,569 21, 21
Transportation equipment. _
_do___ 19, 368 21, 090 19, 724 19, 805 19,82
15, 437 15, 760 15, 363 ' 15,526 15,324
Aircraft and parts
do
14, 446 15, 526 14, 723 14, 919 14, 990 15, 305 15, 301 15, 383 16, 026 15,74
3,046
Nondur. goods indust. with unfilled orders©_do. . _ 3,120 3, 086 3,011
2,942 2,892 2,839 2,779 2,796 2, 773
2,95 ' 3, 086
2,930
2,85
2,907
By market category:
1,970
1,954 '1,975
1,953
Home goods apparel consumer staples do
1,976
2,002
1,901
1,997
1,910
2,061
1, 994
2,016
1,908
1,987
1,975
Equip, and defense prod., incl. auto
do___ 26, 197 29, 223 26, 534 26, 598 26, 555 27, 059 27, 404 28, 028 28,820 28,81 28, 869 29, 217 28,97 ' 29,223 29, 079
5,433 ' 5, 490 5,547
Construction materials and supplies
do
5,21
5,263
5, 368
5,167
5,201
5,044
5,213
5,123
4,967
5,490 4,952
4,986
Other materials and supplies
do... 16, 626 20, 356 16, 689 17, 027 17,037 17,481 17, 436 17,682 18,153 18,21 18,908 19,529 20,00 ' 20,356 20, 595
Supplementary market categories:
1,423
'1,420
1,40
Consumer durables
do
1,384
1, 391
1,401
1,418
1,351
1,356
1,440
1, 408
1,410
1,338
1,407
1,420
Defense products
do
18, 724 20, 058 19, 062 19, 365 19, 363 19, 613 19, 670 19, 828 20, 588 20, 291 20, 080 20,387 20, 058 ' 20,058 19, 887
Machinery and equipment
do
13, 367 11,326 11, 348 11, 442 11, 622 11,931 12, 349 12, 444 12, 695 12, 812 12, 946 13, 175 ' 13,367 13, 530
11, 186
2
Revised.
i Monthly average.
Advance estimate
and i>rmting iind publishing in iustries; unfilled orders foi other ncmdurabl B goods iiidustries
« D ata for total ancI components (incl, market categories) are monthly averaj*es basec on new cxrders no t seasona llyad1 For thes e indust ies (fooc1 and kiudred pr oducts, tobacco ]aroducts apparel
are z ero.
justed.
fSee corresponding note on p. S-5.
91[ncludes data for items nc)t showrL sepaandr elated pr oducts, i)etroleuni and coa1 product s, chemi 3als and £illied pro ducts, an d rubber
rately.
©Includes textile mill products, leather s.ind prod ucts, pai3er and iillied prc)ducts,
and ielastics p roducts) sales are consider ed equal to new o rders.
52, 652 ' 53,042
2,953 '2,920
AC)-I
SURVEY OF CURRENT BUSINESS
March 1965
Unless otherwise stated, statistics through 1962
and descriptive notes are shown in the 1963
edition of BUSINESS STATISTICS
1963
| 1964
Monthly
average
S-7
1964
Feb.
Jan.
Mar.
May
Apr.
June
1965
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
14, 098
17 103
17, 459
17 154
18, 180
17 275
967
968
1,137
100
180
175
412
100
89
175
165
442
97
105
206
187
525
114
93 766 119 324
4 666
4 870
23,967 22 953
35 619 59 174
19 135 20 629
10, 379 11 698
98 282
9,171
25, 835
27 233
28 023
8,020
89 272
4 905
24' 381
26 189
19 744
14 053
50.3
48. 2
52.8
Feb.
GENERAL BUSINESS INDICATORS—Continued
BUSINESS INCORPORATIONS <f
New incorporations (50 States and Dist. Col.):t
Unadjusted
number
Seasonally adjusted
do
INDUSTRIAL AND COMMERCIAL
FAILURES cf
Failures, total
.^number..
Commercial service
Construction
Manufacturing and mining
Retail trade
- Wholesale trade
.
.
do
do_
do
do
do _
..
Liabilities (current), total ' .
thous. $.
Commercial service
_ _ _
do
Construction
do
Manufacturing and mining
do
Retail trade
- do
Wholesale trade
do— _
Failure annual rate (seasonally adjusted)
No. per 10,000 concerns..
15, 534
16, 477
18,825
16, 250
15, 495
16, 018
17, 676
15 992
17,365
16 180
16, 394
15 917
16, 856
15 919
17, 145
15 979
14 552
16 074
15, 465
16 605
16, 394
16 493
1,198
1,125
1,217
1,241
1,320
1,197
1, 075
1,157
1,096
1,169
1,034
1,060
114
200
201
557
126
102
199
188
520
116
109
201
205
570
132
109
204
211
572
145
131
210
212
625
142
101
201
216
554
125
92
179
188
501
115
123
219
146
563
106
82
214
192
501
107
113
203
185
550
118
81
208
163
484
98
112, 716 110, 769 96, 731 123,935 110,999 112, 884
7,425 15, 211 5,721 7,238 11, 686 10, 355
19,280 21, 866 22, 166 14,933 20, 776 27, 872
46, 475 30, 155 29, 649 26, 260 26, 762 30, 650
24, 947 23, 496 27, 376 22,680 19; 515 28, 151
14, 589 20, 041 11, 819 52,824 32, 260 15, 856
156.3
153.2
55.3
53.9
56.6
51.3
93, 419 144, 496 125 642
10, 245 80, 909
9 037
14, 687 15,349 23, 772
37, 782 17 951 23 309
23, 291 21, 694 20 781
7,414
8,593 48, 743
49.4
95
22
17
16
25
12
180 114 565
555 6 074
897 32,185
079 31 396
715 24 958
934 19, 952
96
194
196
467
107
53.2
54.9
59.1
56.3
50.7
COMMODITY PRICES
PRICES RECEIVED AND PAID BY FARMERS
Prices received, all farm products©
1910-14=100..
242
236
243
240
239
236
235
232
234
232
236
236
234
234
236
238
. .
do
do
__ do
do
do
237
231
271
164
224
237
245
260
166
190
243
270
254
166
230
242
286
249
164
229
241
275
259
166
215
243
230
267
168
225
248
235
271
168
218
241
240
274
168
170
234
237
274
163
162
226
217
258
163
161
228
218
258
170
164
232
222
261
165
166
232
265
254
161
168
234
249
247
171
168
233
226
233
174
168
235
239
233
176
167
Fruit_
_
Oil-bearing crops
_ _
Potatoes (incl. dry edible beans)
Tobacco
do
do
do
do
279
258
157
494
295
256
226
490
300
268
150
488
292
263
156
490
293
260
167
490
316
252
191
490
327
246
251
490
301
246
322
489
272
247
307
489
283
243
247
487
293
254
202
482
317
260
208
493
277
263
231
491
267
273
283
496
271
275
322
485
260
281
331
495
do
do
do
do
do
245
253
290
146
269
235
256
269
142
288
242
265
274
154
274
237
260
269
147
281
237
253
273
144
295
230
243
268
136
301
224
237
263
131
301
224
234
264
133
299
234
243
275
139
293
237
252
274
145
288
244
262
282
146
284
239
272
268
144
284
236
277
260
143
284
234
272
261
139
275
238
269
272
136
270
240
262
280
137
269
283
298
273
282
300
270
283
298
273
283
300
271
283
298
272
283
300
272
282
300
270
282
300
269
282
300
269
282
300
269
282
299
270
282
300
269
282
301
269
283
301
270
285
303
272
286
304
273
Crops
_
Commercial vegetables
Cotton__
Feed grains and hay
_
Food grains
Livestock and products
Dairy products
Meat animals
Poultry and eggs .
Wool
.
-._.
„__.__
Prices paid:
All commodities and services
...
do
Family living items...
_do _
Production items _ __•
do
All commodities and services, interest, taxes, and
wage rates (parity index)!
..1910-14=100..
312
313
313
313
313
314
313
313
312
313
313
312
313
313
317
318
Parity ratio§J.
278
375
78
77
76
75
75
74
75
74
75
76
75
75
74
75
107. 6 3 107. 8
107.6
107.7
3.08.0
_.
do
CONSUMER PRICES
( 17. 8. Department of Labor Indexes)
3
106.7
8 107.6
108.1 * 107.7
do
do _
106. 7
107. 4
108.0
108.9
107.6
108.4
107.5
108.4
107.5
108. 6
107.7
108.6
do
do
do
do
do
104. 1
104.9
102.1
101.5
116. 6
105.2
106.0
103.0
101.2
121. 6
104. 9
105.7
102.9
102.3
119.6
104.8
105.6
102.9
102.2
119.0
104.8
105.6
102. 9
101.8
119.6
___do
do
103. 5
113.0
104.4
115.2
104.3
114.2
104.1
114.3
do
do
do
do
105. 1
100.2
103.8
111.0
106.4
98.6
104.7
115.3
105. 8
98.3
105.0
112.4
Housing
__
do
Shelter?*
do
Rent
___do_Homeownership*
do
Fuel and utilities*
do
Household furnishings and operation*
do
106.0
106.9
106.8
107.0
107.0
102. 4
107.2
108.7
107.8
109,1
107.3
102. 8
Apparel and upkeep*
Transportation
Private
Public
104.8
107. 8
106.4
116.9
105.7
109. 3
107. 9
119.0
All items.
Special group indexes:
All items less shelter____
All items less food
Commodities?
Nondurables
Durables^?
New cars..
Used cars
1957-59=100-.
__
Commodities less food^
Servicesf.
Food?
Meats, poultry, and
Dairy products
Fruits and vegetables
fish___
do
do
do__.
do
3 107. 9 3 108. 2
108.0
107.8
108.3
108. 2
108.4
108. 5
108.7
108.8
108. 9
107.7
108.7
107.9
108. 8
108.2
108.8
108.1
108.9
108.2
109.0
108.3
109. 2
108.5
109.5
108.6
109.6
108.6
109.8
104.9
105.6
102.9
101.6
120.9
104.8
105. 5
102.8
101.2
121.6
105.0
105.8
102.9
100.8
122.7
105.3
106.3
102.9
100,6
122. 7
105.2
106. 1
102.8
99.9
122.2
105.4
106.4
102.8
98.7
121.9
105.5
106.4
103. 1
101.3
121.9
105. 6
106. 4
103.5
102. 5
122.9
105.7
106.5
103.4
101.6
123.7
105.6
106.3
103. 6
101.5
123.7
104.3
114.5
104.3
114. 8
104.3
114.9
104.3
115.1
104.3
115.3
104. 2
115. 4
104. 3
115.5
104.6
115.7
104.8
116.0
104.9
116. 2
104.9
116. 6
106.0
98.3
104.8
113.9
105.7
97.2
104.5
115.1
105. 7
97.0
104.1
115.7
105.5
96.6
103.9
115. 7
106.2
96.8
104. 0
120.2
107.2
98.9
104.3
122.3
106.9
99.2
104. 4
117.3
107.2
101.4
104.6
112.2
106.9
100.6
105.3
111. 7
106.8
99.5
105. 3
113. 0
106.9
99.0
105.6
114.5
106.6
99.2
105. 6
112.4
106.9
108.1
107.3
108. 5
107.7
102.7
106.9
108.3
107.5
108.8
106.8
102.7
107.1
108.4
107. 5
108.9
107.3
102.8
107.0
108.2
107.7
108.6
107.4
102.9
106.9
108.2
107. 7
108.4
107.2
102.9
107.1
108.4
107.8
108. 7
107.1
102.9
107. 1
108. 6
107. 8
108.9
107.0
102.8
107.2
108.8
107.9
109.2
107.1
102.6
107. 4
109.0
107.9
109. 5
107.2
102.8
107. 6
109.2
108.2
109.6
107.4
102.8
107. 7
109.3
108.3
109.8
107.5
102.9
107. 8
109.5
108.4
110.0
107.9
102.9
108.1
109.9
108. 4
110.6
107.9
102.8
105.0
109. 4
108. 0
118.3
105.1
108.6
107.2
118.4
105. 3
108.9
107. 4
118.3
105. 6
109.0
107.6
118.4
105.7
109. 1
107.7
118.6
105. 7
109.2
107.8
118.9
105.5
109.4
107.9
119.0
105.3
109. 3
107. 9
119.1
105.9
108.9
107.4
119.3
106.2
109. 4
108.0
119.3
106.4
110.0
108.6
119.5
106. 6
110.5
109.0
120.3
105.6
111.1
109. 7
120.6
Health and recreation?*
do
111.4
113. 1
112.7
112.9
113. 6
Medical care.
do
118.2
117.0
118.5
119.4
118. 7
Personal care
do__.
108.4
107.9
108.5
109.2
108.7
Reading and recreation
do
111.5
113.1 113.3
114.1
113.6
'Revised.
1 Based on unadjusted data.
a'Aimual da ta for 1961-64 for parity ratio
adjusted for government payments made directly to farmers are as fo lows (urtit as ab(>ve) :
83; 83; 81; 80. Descriptive material and annual data Ic ack to l( )33 appea r in the IDept. of j.igriculture publications, "Agricultural Prices," January 1964 an d 1965 is sues,
"All ite ms"
4
index on old basis (discontinued with June index),
New series. B eginning Jan. 196 Ithe
index reflects the following changes: (1) updated wei ghting iixctors an d price c ata base ; (2)
improvements in statistical procedures; (3) a more cojmprehen sive inde x, incl. si ngle woi kers
living alone, as well as families of wage earaers anc clerical workers (4) exp msion o the
"market basket" from 325 to 400 items; and (5) mere>ase in tlle sampl e of price d cities ,o 50
metropolitan areas and cities in the U.S. incl. Alaska and Ha1(vaii. Tlle new sc ries has been
107.8
113.5
113.4
113. 5
113.7
113.8 113. 9
114.0
114.2
114. 3
114.5
119.1 119.3
119.0
119.5
119. 8 119.7
119.9
120.3
120.6
120.2
108.7 108.9
109.1
109.3
109.4
109.5
109.7
110.0
109. 7
110,0
114.0
114.1 114.0
114.1 114.2
114. 3
114.5
115.0
114.9
114.9
linked to the o d series as of De<J. 1963 to provide continu ous serie =5 (see exc options in notes
"U" an d"*"). More co rnplete ir formatio n and d*ita are a^Bailable f rom the Bureau of Labor
Statist ics, U.S. Dept. oi Labor ( Washing! on, D.C ., 20210).
d*Compiled I)y Dun ife Bradst
reet, Inc (failure s data are for 48 £states an<I Dist. C 61.).
tDat a prior t o 1963 exelude Dist. of Co 1. Revis ions for Jan.-De 3. 1962 (s 3as. adj.) appear
on p. S-7 of tlie Aug. 1964 SUR VEY.
ORevisi ons for Jan. 1961--Mar. 19 63 are aiBailable
uponr equest.
JSeen 3te mark ed "fori p. S-7 oftheFeb . 1964 Sl7EVEY.
§Rat io of pri ces recei\red to pr ices paid (incl. iiiterest, t axes, an i wage r ates).
IData
beginning 1963 as shown here are not com parable irtdth "olc1 series" data forEaerly pulWished.
9ln<d. data ilot showii separately.
*Newindexes.
SUEVEY OF CURRENT BUSINESS
S-8
1963
Unless otherwise stated, statistics through 1962
and descriptive notes are shown in the 1963
edition of BUSINESS STATISTICS
1964 v
Monthly
average
March 1965
1964
Jan.
Feb.
Mar.
Apr.
May
June
1965
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
COMMODITY PRICES—Continued
WHOLESALE PRICES^
(U.S. Department of Labor Indexes)
Spot market prices, basic commodities:
22 Commodities
... 1957-59 =1009 Foodstuffs
do
13 Raw industrials
do
All commodities
-- do
By stage of processing:
Crude materials for further processing
do
Intermediate materials supplies, etc
do
193.5
92.9
93.9
100.3
i 95. 2
87.0
101.4
100. 5
95.5
91 5
98 5
101 0
94.4
88 9
98 5
100 5
94.3
87 9
98 9
100 4
96.3
88 2
102 4
100 3
95.3
87 9
100 9
100 1
95.2
87 0
101 4
100 0
95.8
86 8
102 5
100 4
97.9
87 7
105 7
100 3
100.0
89 3
108 2
100 7
102. 3
89.7
112 0
100 8
102.7
89 2
113 2
100 7
103.2
91.1
112.5
100.7
102.3
91 5
110 6
101 0
102.4
91 5
110 7
101 2
95.0
100.5
101.4
94.1
100.9
101.8
95 1
101 3
102 1
94 0
101 2
101 6
94 3
100 9
101 5
94 2
100 9
101 3
93 5
100 6
101 3
92 4
100 3
101 7
93 8
100 5
102 1
94 1
100 4
101 9
95 7
100 6
102 1
94 3
101 1
102 1
94 0
101 1
102 1
94 0
101 4
101 9
94 2
101 6
102 3
95 5
101 6
102 3
. do
101 .0
99.6
102. 4
99.1
101 7
100 3
101 8
99 5
102 0
99 2
102 2
98 9
102 4
98 4
102 3
98 4
102 4
98 9
102 5
98 7
102 4
99 4
102.8
99.2
102 9
99.1
103. 0
99.0
103 1
99 5
103 2
99 7
do
do
- do
100.6
101. 3
99.8
101.1
102. 5
99.7
101 3
101 9
100 5
101 1
102 1
100 0
100 9
102 2
99 6
100 9
102 4
99 4
100 8
102 6
99 0
100 8
102 4
99 1
101 1
102 5
99 7
101 0
102 5
99 5
101 2
102 5
99 g
101. 4
102 8
100 0
101 4
102 9
99 8
101.5
102 9
100 0
101 8
103 2
100 5
101 8
103 2
100 3
95.7
Farm products 9
do
Fruits and vegetables, fresh and dried.— do. ... 96.1
101 .9
Grains
-..do
88.8
Livestock and live poultry
do_
94.3
103.2
94.1
84.7
96.3
95.9
103 9
84 7
94 5
97.9
102 0
82 8
95 2
104.9
99 1
83 8
94 4
105.9
103 3
82 4
93.7
107.4
103.2
81 2
93 2
113.1
89 8
82 3
94 1
108.9
85 7
87 7
93.6
97.9
85 7
88 4
95 7
101.5
90 2
90 9
93.8
98.2
88.9
85 8
94.0
108. 0
88 0
83 6
92.7
98.9
90 1
83 1
93.0
98.5
90 4
85 5
94 5
102.3
90 5
88 4
Foods processed 9
___do___.
Cere'al and bakery products.,
do
Dairy products and ice cream
__ ..do
Fruits and vegetables, canned, frozen
do
IVfeats poultry and
fish
do
101.1
107.3
107.5
103.9
93.3
101.0
107.8
107.8
104.8
90.8
102 5
107. 0
108.0
107. 2
91 8
100 9
107.4
107.5
107.4
88 9
100 5
106.8
107.3
107. 5
QQ 7
100 4
107.8
107.1
107.3
88 3
99 4
107.5
106.6
106. 3
86 9
100 2
107.9
107.1
106.1
90 2
101 2
101 0
108. 3
108. 6
107.3
107.0
' 105. 1 '102.1
93 3
93 3
102 2
108.1
108.7
102.2
96 1
101 7
108. 2
108.9
102.7
93 2
100 9
108.3
109.5
102.3
89 8
100 8
108. 2
108.9
101.9
88 8
102 2
108.2
108.3
101.9
91 9
102 0
107.9
107.8
100.1
99 o
Commod. other than farm prod, and foods.do
100 .7
101. 2
101.3
101.2
101.1
101. 1
101.1
100.9
101. 1
101.1
101. 1
101.5
101. 6
101. 8
101.9
101.9
96.3
94.8
95.1
80.3
99.9
103.8
96.7
94.2
95.0
96.8
100.1
104.7
96.3
94 3
95 4
83 1
90 4
105 1
96.4
94 2
96.5
96.6
94 4
95 4
87 3
100 2
104 8
96.7
94 5
95 5
88 6
100 2
104.8
96.5
94 3
94 6
93 2
100 2
103 9
96.6
94 3
94 8
95 9
101 1
104 1
96.5
93 9
94 7
101 3
100 2
104 8
96.6
93 9
94 6
106 2
97.1
94 1
94 7
112 6
100 7
104 9
97.2
94 2
94 7
116 8
100 7
104 8
97.3
94 6
^94 4
104 8
96.9
94 3
S 94 6
107 7
r
99. 3
104. 8
97.5
94 6
94 5
118 3
103 8
105 2
Fuel and related prod. , and power 9
do_ . _ _ 99.8
96.9
Coal
—do
Electric power
Jan. 1958=100.. 102.0
122.8
Gas fuels
do. ..
97.2
Petroleum products, refined.— 1957-59= 100—
97.1
96. 9
101.1
121.3
92.7
96.1
95 0
101 3
120 4
91. 1
96.4
95 1
101 3
116 6
92.2
96.3
95.3
100. 9
116.0
92.3
96. 7
96.1
100.6
120.2
92. 5
96.4
96.6
101. 4
121.2
91. 4
95 2
97! 3
101.5
118. 4
89.5
96.7
97.7
101.5
120.4
91.9
97. 6
98.0
101.4
123.1
93.3
98.1
98.2
101.3
124 0
94.0
98.1
91.8
104.6
82.8
92.3
on Q
98.6
91.6
105 2
81 5
91 2
98.6
91.6
105 3
81 5
91 2
98.5
91.2
105 1
81 5
91 2
98.6
91.2
105 2
81 8
90 8
98. 6
91.3
105 3
81 8
90.8
98.6
'91.1
105 3
81 8
90 8
98.5
91.2
105.5
81.5
91.1
98.5
90.9
105 6
81.3
91.1
Hides skins and leather products 9
do
Footwear
- -; do
Hides and skins
- __do
Leather
do
Lumber and wood products
do~_-~
By durability of product:
Nondurable goods
Total manufactures
Durable manufactures
Nondurable manufactures
_-
Chemicals and allied products 9 ------ --do
Chemicals industrial
do
Drugs and Pharmaceuticals
do
Fats and oils inedible
do
Fertilizer materials
do '_
Prepared paint - —
do — _
Q4. A.
nc q
oq 9
oc o
100 2
inn 9
104 6
104 8
99.5
98 3
101 3
124 8
96.6
99.0
98 1
101 3
126 8
95.3
98.5
91.3
105.3
81.5
90.9
98.4
91.5
105 0
81 5
90 9
98.5
91.8
105 0
81 5
90 9
97.0
97 1
99 4
123 2
92.9
98.5
91.7
104.2
108.3
84.0
101.9
98.6
98.9
104.6
108.5
87.5
102.9
100.6
100.7
102 7
108 3
7tt 1
99 5
99 0
99 2
102
108
74
99
99
100
5
2
0
7
9
3
102 5
108 2
75 7
99 6
101 0
101 4
104 5
108 3
88 1
102 0
101 8
102 0
104 7
108.3
85 7
104. 5
101 8
102.2
104. 8
1C8. 3
90.3
103.3
101.4
101. 8
105.4
108. 3
92.6
104.7
101.2
101.5
105. 6
108.3
96.0
104.5
100.9
101.1
105.4
108.4
95.5
104.0
100.6
100.7
106.0
109.1
95.4
104.8
100.3
100.4
105.5
109.0
90.7
103.9
99.6
99.2
Machinery and motive prod. 9 --—do
Agricultural machinery and equip
do
Construction machinery and equip.. ...do
Electrical machinery and equip.
do
Motor vehicles
--do
102.2
111.1
109.6
97.4
100 .0
102.9
112.9
112.4
96.8
100.5
102.5
112.1
111.8
96.9
99.8
103.3
112.7
112.3
97.7
101.2
1C3.0
112.7
112.3
96.5
100.9
103.1
112.9
112.3
96.5
100.9
102.9
113.1
112.3
96.6
100. 7
102.9
113.0
112.4
96.6
100.5
103.0
112.9
112.4
96.5
100.7
- - do
do
.
do
do-.--
100 .1
92.9
99.1
99.1
102.8
92.0
100. 5
105.9
101.7
92.0
100.2
101.4
102.7
112.6
112.0
97.0
99 9
102. 0
92.1
100.2
102.8
102.9
112. 7
112.2
97.7
99.9
Metals and metal products 9
Heating equipment
Iron and steel
- Nonferrous metals
102.5
112.5
111.8
96.9
99 8
101.8
91.8
100.2
101.7
102.2
92.1
100.2
104.0
102.1
92.0
100. 3
103.9
102.3
92.4
100. 4
104.0
102.5
91.9
100.7
104.4
103.0
91.7
101.2
105.8
103.0
91.7
100.5
107.0
Nonmetallic mineral products 9
— ---do
Clay products, structural. _ —
do
Concrete products
do
Gypsum products
- - -.do
Pulp, paper, and allied products
do— —
Paper
_ _
—do
Rubber and products
do
Tires and tubes
_.do_
Textile products and apparel 9
- - do
101.3
103.6
101 .7
105.4
99.2
102.4
93.8
90.1
101. 5
104.4
100.9
108.2
99.0
103.6
92.5
89.0
101.1
103.5
101.2
106. 1
99.8
103.1
93.7
91.3
101.2
103.8
101.0
108.6
99.9
103.1
93.6
91.3
101. 1
103.9
100.7
108.6
99.3
103.5
93.9
91.3
101.3
104.5
100.6
108.6
99.1
103.6
93.1
89.2
101.3
104.5
100.6
108.6
98.7
103. 7
92.6
88. 0
101.4
104.5
100.8
108.6
98.7
1C3. 7
91.6
88.0
101.5
104.4
100.9
108.6
98.7
103.7
91.8
88.0
101.7
104. 5
100.8
108.6
98.7
103.7
91.8
88.0
do— —
—do
do— —
do----
100.5
101.9
100.3
93.9
139 .9
100.9
101.2
102.8
99.6
95.8
117. 3
103.0
101.2
102.3
101.3
94.7
121.6
103.2
101.2
102.3
101.2
95.1
116.8
103.3
101.2
102.3
101.1
95.5
116.6
103.3
101.1
102.3
100.5
95.5
116.4
103.2
101.2
102.7
99.6
96.0
116.4
102.8
101. 0
102.8
98.7
96.2
117.0
102.8
101.1
103.3
98.3
96.2
117.0
102.6
Tobacco prod, and bottled beverages 9 — do
Beverages, alcoholic
do
Cigarettes
- do
Miscellaneous
- - do--—
Toys, sporting goods.—
do——
106.1
101 .0
104.1
110.4
101 .0
107.4
100.7
105. 6
109.2
101.0
107.6
101.0
105.6
112.6
100.9
107.1
101.0
105.6
110.9
100.9
107.1
100.7
105.6
109.8
101.1
107.1
100.7
105.6
109.5
100.8
107.3
100.5
105. 6
107.2
100.8
107.4
100.3
105. 6
106.7
100.9
99. 5
99.0
92 9
99.5
92 9
99.6
92 9
99.7
92 g
99.9
92 8
100.0
92 6
Furniture, other household durables 9 - - - do
Appliances, household.-.
do
Furniture household
do
Radio receivers and phonographs
do
Television receivers
- ..do
.
Cotton products —
__. _.
Manmade fiber textile products.
Silk products
•—
"Wool products
'..
PURCHASING POWER OF THE DOLLAR
As measured byWholesale prices—
——1957-59=100Consumer prices
do
99.7
QO ^
o-i
1
2
»• Revised.
*> Preliminary.
Figures are for the month of June.
Indexes based
on 1947-49 = 100 are as follows: Measured by—wholesale prices, 83.2 (Feb. 1965); consumer
prices, 74.9 (Jan.).
& For actual wholesale prices of individual commodities, see respective
P
r 98 8
98.4
'90.6
105 7
81 3
90 0
r 113 4
102 3
104.8
'98.5
98.0
'98.3
98.4
101.1 100. 8
'121.4
125.4
95.2
93.9
'98.3
98.3
'90.2
90.2
' 108. 1 106 2
81.1
81 1
' 89. 7 89 7
103.2
113.8
113.4
96.5
100.7
105.4 r 104. 9
109. 0 ' 109. 1
86.5
90 2
104. 2
103.9
100. 8
99 4
100. 8
99.1
103.3
103.1
114. 2 ' 114. 5
113.8
113.7
'96.5
96.3
100.8
100.8
105.1
109.1
90.2
103. 3
100.4
100. 8
103.5
114.7
114.1
96.5
100.9
103. 8
91.8
100.7
110.4
104. 3
91.9
100.9
112.0
104.7
92. 2
101. 1
113. 4
r 91.3
101.4
111. 9
104.6
91.6
101.2
112.2
101.8
104. 6
101.1
108.6
98.7
103.7
91.9
88.0
101.8
104. 8
101.1
108.6
99.1
104.0
92. 1
88.0
101. 8
104.9
101.1
108.6
98.9
104.0
92. 2
88.0
101.6
105.0
101.1
106. 6
101. 7
105.0
101. 3
106.6
101.8
105.1
101.2
107. 7
103.7
103.7
103. 7
88. 8
88.8
88. 5
101.2
103.3
98.6
95.8
117.0
103.0
101.2
103.3
98.9
95.7
117.0
102.9
101.4
103.3
99.0
96.1
116.6
103.1
101.4
103.2
99.1
96.5
117.8
103.3
101.5
103.1
99.4
96. 8
117.4
102.8
' 101. 5
103.1
99.5
' 96. 9
121.6
103.4
101.5
103.1
99.6
96.4
135. 5
103.3
107.3
100.3
105.6
107.5
101.0
107.5
100. 8
105.6
107.3
101.0
107.5
100.8
105.6
109.2
101.2
107.6
100.8
105.6
110.1
101.1
107.5
100.5
105.6
108.5
100.9
107. 5
100.5
105.6
110. 7
101. 0
107.5
100.5
105.6
' 110. 0
r
101. 6
107.6
100.9
105.6
99. 6
92 3
99.7
92.4
99.3
92.3
99.2
92.2
99.3
92.0
99.3
91.9
99.0
291.8
298.8
commodities.
O Goods to users, including raw foods and fuels.
shown separately.
104.5
9 Includes data not
SURVEY OF CURRENT BUSINESS
March 1965
1963
Unless otherwise stated, statistics through 1962
and descriptive notes are shown in the 1963
edition of BUSINESS STATISTICS
1964
1964
|
Monthly
average
S-9
Jan.
Feb.
Mar.
Apr.
May
June
1965
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
r 5, 429
'4,726
Feb.
CONSTRUCTION AND REAL ESTATE
CONSTRUCTION PUT IN PLACE f
New construction (unadjusted), total t—
Prlvate total 9
Residential (nonfarm) 9
—
5,204
Stores, restaurants, and garages . _ . . ..do—do
——
4,177
4,643
5,098
5,483
6,185
6,162
6,208
6,189
6,092
5,763
3,021
1,626
1,316
C1)
3,325
1,908
1,477
3,638
2, 188
1,610
3, 895
2,345
1, 703
(*)
4,222
2,573
1,879
4,257
2,552
1,976
4,179
2, 417
1,911
4, 022
2, 235
1,784
0)
0)
0)
4, 109
2, 323
1,843
0)
993
264
425
163
95
286
981
257
424
167
96
317
963
251
411
155
95
366
1,017
254
442
175
99
404
1.086
258
480
207
106
421
1,130
269
497
220
115
421
4,228
2,500
1,974
0)
1,154
284
497
220
118
421
1,172
293
506
232
111
448
1,184
299
517
242
107
469
' 3, 800
r
2, 080
'•1,664
0)
C1)
1, 188
1,144
312
324
520
482
239
207
102
98
r
471
453
2,010
568
0)
794
533
1,983
569
(i)
787
504
1,741
497
(i)
678
449
988
247
433
189
106
374
1,086
278
470
200
103
399
3,258
1,813
1,451
0)
1,015
268
434
168
98
312
1,671
515
0)
581
467
1,321
435
0)
397
392
1,156
429
0)
266
376
1,318
464
0)
351
413
1,460
525
0)
384
454
1,588
517
C1)
481
477
1,963
597
0)
710
534
1, 905
525
740
526
1,980
555
0)
770
534
64,684
65, 528
66,509
66, 615
64, 983
66, 576
66,641
65,991
66, 454
45, 440
46,274
46,923
46,449
45, 780
46, 006
46, 261
45, 906
45, 861
X1)
Additions and alterations
_. do... .
Nonresidential buildings, except farm and
public utilities, total 9
—
mll.-$..
Public total
— Nonresidential buildings
Military facilities
4,579
3,830
2,213
1, 716
1, 557
460
(')
556
430
.—do
'•
>do
Public utilities
5,501
3,648
2,154
1,672
mll.$_.
--do
do
do .
•0)
New construction (seasonally adjusted at annual
rates) totalf
— •— •
..mil. $__ 262,451 266,008
Private total 9
--- do_.__ 43,772 45, 954
0)
(1)
0)
4,325
' 3, 339 3 105
' 1 784 1 595
'1 1425 1 283
C)
0)
'1,089
'332
'439
175
95
'345
1,073
337
427
177
92
319
1,629 '1,387
' 494
'470
(i)
f1)
613
422
415
398
1 220
439
•m
h\
65, 335
65,588 '67 311 '66 597
67 696
45, 521
45,497 '46 184 '46 432
47 244
27 083
r
G)
Residential (nonfarm)
__
... do __ 25,843
Nonresidential buildings, except farm and
public utilities, total 9
.mil. $_ 11,859
Industrial
-.
__do__-_ 2,962
5, 200
Commercial9
•
^o
Stores, restaurants, and garages__ _ _ _ _ d o _ _ _ . 2,268
1,266
Farm construction
do
Public utilities
do.—- 4,494
18,679
Public, total?
.—do
25, 560
26,907
27, 600
28,123
27, 538
26, 678
26,612
26, 708
26,342
25,972
25 679
25,642 r26 016 '26 494
13, 027
3,333
5,635
2,395
1,240
4,789
12,470
3,060
5,499
2,330
1,258
4, 547
12,581
3,058
5,546
2,300
1,254
4,547
12, 728
3,074
5,668
2,351
1,253
4, 518
12, 661
3,076
5,561
2,293
1,252
4,660
12, 756
3,149
5,542
2, 252
1,250
4,746
12, 900
3,204
5,562
2,268
1,247
4,832
13, 063
3,334
5,574
2,302
1,242
4,828
13 271
3, 505
5,609
2,381
1,237
4, 670
13,386
3,514
5,746
2,530
1,232
4, 923
13 406
3, 540
5,776
2,621
1, 226
4, 915
13 453 13 442 '13 339 13 517
3 655
3 791 ' 3 788 3 905
5, 767
5 639 r 5 579
5 587
2,556
2,443 ' 2, 436 2,491
1,223
1 219 1 219 1 218
4,875 '5 191 ' 5 056 5 056
20, 054
19,244
19,254
19, 586
20, 166
19, 203
20, 570
20, 380
20, 085
20, 593
19, 814
20,091 '21 127 '20 165
5,524
0)
6,670
6, 175
0)
6,971
5, 761
0)
6,685
6, 171
C1)
6,169
5, 993
C1)
6,796
6,259
1
7,068
C)
6,040
C1)
6,410
6, 528
0)
6,888
5, 828
(i)
7,549
6,115
(i)
7,021
6,313
(i)
7, 273
6,330
(i)
6,667
6,193
(i)
7,151
3,942
3 137
1,281
2, 661
3, 346
147
1, 198
2,149
3,201
143
1,041
2,160
4,215
140
1,339
2, 876
4,359
138
1,318
3,042
4, 639
138
1,535
3,104
4,504
138
1,491
3, 013
4 601
140
1,619
2 983
3 760
121
1,101
2 658
3 762
131
1, 124
2 638
4 029
136
1,310
2, 719
3 757
143
1,174
2 583
3 598
' 154
1,230
2 368
3 127
137
1,104
2 023
1, 291
1,713
937
1,158
1,372
816
1,082
1,427
692
1,252
1,991
972
1,420
2,006
933
1, 362
2, 050
1, 227
1,400
1,996
1,108
1 548
2,000
1,054
1 275
1 679
807
1 228
1 717
817
1,425
1,702
902
1 263
1 482
1 012
1 298
1 306
994
1 155
1 273
700
Nonresidential buildings
Military facilities
Highways
_—
...
—
....do
. do .
do—
20 452
'6,563 ' 6, 193
n\
m
7 098
7 500
6,289
/i\
(i\
CONSTRUCTION CONTRACTS
Construction contracts in 48 States (F. W. Dodge
Co.):A
Valuation, total
_
._ . _. mil. $__ ' 3, 796
Index (mo. data seas. adj.)_
1957-59=100.. r 3132
Public ownership.
____mil. $_. r 1, 221
2, 574
Private ownership..
___
do
By type of building:
r
1,198
Nonresidential .
do
' 1,709
"Residential
_.
do
'889
Non-building construction
do.
;
New construction:
•2, 770
Advance planning (ENR)§
_____..
do___.
Concrete pavement awards:^
Total
•-.
thous.sq.yds-. 10,053
482
Airports
___do
Roads
do _. 6, 411
Streets and alleys.
_
do. _. 3,160
Miscellaneous
do
3, 700
6, 577
3, 986
2,664
3,165
3,190
3,143
4,823
3,506
2, 860
3,676
2,900
3,915
2,614
4,013
10, 314
446
4
7, 489
4 2, 132
4247
10,891
256
8, 464
2,095
76
6,820
225
5,159
1,197
240
9,057
836
6,956
1,046
219
12, 997
611
9,861
2, 402
124
10, 831
240
7,714
2,716
161
9,463
270
6,474
2,481
238
13 354
1,395
8 981
2 747
231
7 246
*388
4 840
1 660
357
11 962
252
9 187
2 241
282
8 828
472
5 792
2 276
288
11 720
100
8 509
2 455
655
10 600
307
7 935
2 262
96
6 870
359
5 629
' 676
'
m
8
136. 7
85.1
134.1
132.1
81.3
129.4
100.8
55.3
99.6
101. 1
63.7
100.3
133.3
82.2
130.1
152.3
90.7
148.5
160.5
101.4
157 5
164. 0
102.1
158 5
145.1
91 7
142 7
144.8
90 2
141 6
126.0
79 6
122 6
143. 1 '113.8 r 100. 1
90 6 r 69 7 r 58 6
QQ K
141 0 T \\]_ 4.
r 81 8
134. 4
95.8
131.8
129.8
593.0
127. 1
99. 5
75.0
98.3
98.5
73.8
97.7
131.5
96.6
128.3
149.5
102.5
145 7
158. 2
115.1
155 2
161.3
118.0
155 8
142. 8
102 9
140 4
142. 2
97 1
139 0
123. 9
89 9
120 5
140. 6 '111.6
99 0 r 77 I
138 5 f 109 2
r 69 0
r Qfi fi
r 8O %
1,718
1,688
1,657
1, 613
1,663
1,638
1 531
l'501
1 529
1 507
1 611
1 585
1 505
1 483
1 430
1 408
1 457
1 433
1 591
-j 646
r 1 Afifi
1 333
742
1 404
810
1 377
767
1 280
700
1 271
714
1 306
720
1 242
663
1 281
701
1 222
694
1 220
689
Q4.fi
79
7 988
1 515
fid
HOUSING STARTS AND PERMITS
New housing units started:
Unadjusted:
Total, incl. farm (public and private) __-thous_.
One-family structures.___do
Privately owned
do _.
Total nonfarm (public and private)
In metropolitan areas
..
.
Privately owned
._
Seasonally adjusted at annual rates:
Total, Including farm (private only)
Total nonfarm (private only)
do
do
do
do ._
do
New private housing units authorized by bldg. permits (12,000 permit-issuing places) :*
Seasonally adjusted at annual rates:
Total..
_ _ _ _ _ _ __
_ _ thous
One-family structures
_ _ _ _ _ _ do_
2
1, 335
2750
2
1 276
2717
T
1 ^Q
T 1
4.P»*v
T 1 49Q
1
'98.2
r
'85.9
54 0
'84.6
59 7
87.5
~
'"
DP~0
86.8
0 A ~G
r 1 ' ROQ
OKQ
r 1 1 7^
r 1 ^11 9
741
'718
'764
744
CONSTRUCTION COST INDEXES
Dept. of Commerce composite^
_1957-59=100__
American Appraisal Co., The:
Average, 30 cities...
...—..... ..1913=100..
Atlanta _ _ _ _ _ _
do
New York
_
do
San Francisco
do
St. Louis
_
do
Associated General Contractors (building only)
1957-59=100-.
109
780
857
858
761
760
114
112
111
111
111
111
112
112
112
113
113
113
113
113
113
113
802
878
888
792
785'
792
863
884
778
779
793
870
884
780
779
793
870
884
780
779
794
870
884
780
777
798
872
884
780
786
800
872
884
794
786
806
87°
893
799
786
808
887
895
800
786
809
811
811
812
QQO
814
815
897
889
QQA
8QO
Q17
Q1 7
78fi
ofiq
788
119
117
117
117
117
118
119
119
120
120
120
121
121
2
f Revised.
i Not yet available; estimate included in total.
Annual total (also for
breakdown of new construction value).
3 Computed from cumulative valuation total.
* Prior to 1964, "miscellaneous" yardage was included with data for roads and streets,
fi Effective Jan. 1964, based on 1963 definitions of metropolitan areas; not strictly comparable
with earlier data.
t Revised series.
Revised monthly data for 1946-63 appear in Construction Report
C30-61 Supplement (Bu. of the Census).
9 Includes data not shown separately.
AMonthly averages are based on annual totals
including revisions not distributed by months.
764-272 O-65-4
887
809
8Q9
7Q7
120
120
§Data for Jan., Apr., July, Oct., and Dec. 1964 are for 5 weeks; other months, 4 weeks.
Comparable data prior to 1961 not available.
cf Data for Mar., June, Sept., and Dec. 1964 are for 5 weeks; other months, 4 weeks.
* New series (from Bu. of Census reports, Series C-20). The 12,000 permit-issuing places
covered by these data account for a major portion (about 83 percent) of private residential
building in the United States (1959-63 data for 10,000 places are also provided in Series C-20
reports).
JRevised to 1957-59 reference base; also reflects revision of basic data.
SURVEY OF CURRENT BUSINESS
S-10
1963
Unless otherwise stated, statistics through 1962
and descriptive notes are shown in the 1963
edition of BUSINESS STATISTICS
1964
1964
Monthly
average
March 1965
Jan.
Feb.
Mar.
Apr.
May
June
1965
July
Sept.
Aug.
Oct.
Nov.
Dec.
Jan.
Feb.
CONSTRUCTION AND REAL ESTATE—Continued
CONSTRUCTION COST INDEXES— Con.
E. H. Boeckh and Associates, Inc.:
Average, 20 cities:
All types combined.
_.„ 1957-59 =100Anartments hotels office buildings
do
Commercial and factory buildings
do
Engineering News-Record:
Building
.1957-59=100-
Bu. of Public Roads— Highway construction:
110.2
111. 3
110.2
108. 5
113.4
111.2
113.4
111.6
111.9
113.0
111. 9
110. 2
111.9
113.1
111.9
110.3
111.9
113.1
111.9
110.3
112.3
113.4
112.3
110. 7
112.9
114.1
112.9
111.1
113.6
114.9
113.6
111.8
114.1
115.3
114.1
112. 2
114.2
115.4
114. 2
112. 3
114.1
115.3
114.1
112.3
114.5
115.8
114.5
112.6
114. 6
115. 8
114.6
112.7
114.7
115. 9
114. 6
112.7
114.9
116.1
114.8
113.0
112.7
118.6
116.1
123.2
114.6
120.8
114.6
121.1
115.0
121.4
115.3
121.9
115.6
122.3
116. 2
123.1
116.6
124.3
116.9
124.7
117.1
124.7
117.0
124.7
117.0
124.8
117.0
124.8
116.9 i 117. 9
124.7 i 126. 0
a 101. 0 2102.0
99.3
102.2
102.4
103 8
CONSTRUCTION MATERIALS
Output index:
ComDosite unad1ustpd9
1947-49=100—
Tvon and ^teet products unadjusted
do
129.4
138.0
142.9
132.0
149.7
152.3
157. 9
160.6
158.1
160.3
149.7
166.9
156. 2
162.3
169.0
162.9
148.3
165.3
158.9
162.1
143.6
167.0
173.0
154.0
148.5
222.6 ' 255. 6
166.8
162.3
214. 4
163.9 143.7
161. 0 ' 141. 3
217.3 186.0
15.4
174
10.4
121
140.7
'140.7
176.1
154.2
151.4
185.7
118.4
142.6
113.2
122.7
141.9
118.0
151.1
158.0
147.7
168.7
158.0
176.4
164.4
154. 5
205.9
174.8
155. 6
216. 5
15.8
15.2
11.6
9.5
11.5
178
9.1
138
14.4
193
9.4
135
19.0
190
11.3
124
18.7
190
11.1
111
15.8
173
9.5
99
17.9
177
10.8
103
15.2
162
10.7
109
15.8
176
8.3
88
439.85 483.39
201 .31 208. 70
483. 67
206. 20
456. 89 570. 30
192. 02 232.60
616. 55
251.51
604. 77
245. 93
139.8
146.5
135.9
132.5
155.3
REAL ESTATE
Mortgage applications for new home construction:
Applications for FHA commitments O
*
thous. units..
Requests for VA appraisals
—-do
Home mortgages insured or guaranteed byFed. Hous. Adm.: Face amount
mil.$— 464.09 547. 77 543. 00
253. 76 237. 68 267. 77
Federal Home Loan Banks, outstanding advances
3 4, 784 3 5, 325 4,414
to member institutions
mil. $—
New mortgage loans of all savings and loan associations, estimated total--.
mil. $—
By purpose of loan :
New nonfarm mortgages recorded ($20,000 and
underestimated total
—.mil. $—
Fire losses (on bldgs., contents, etc.)
15.1
183
8.7
112
11.6
194
7-3
118
11.7
193
7.1
118
11.8
'202
6.8
113
15.1
203
8.7
124
605. 39 650.14
270. 33 275. 73
556.64
258. 30
562.63
241. 82
542. 46
225.40
443. 58
5,325
4,944
4,851
4, 216
4,168
4,444
4,395
4,769
4,763
4,781
4,837
4,797
4,784
1,791 ' 1, 969 ' 1, 527 1,540
2, 061
2,042
1,716
1,712
2, 071
2,081
2,145
2,394
2,363
2, 164
2, 048
2,051
'587
827
648
543
866
633
434
696
586
474
674
564
621
784
666
579
831
671
597
881
667
624
1,054
716
635
1,037
691
537
1,025
602
498
970
580
531
893
627
3,077
8,183 ~~9,~652~
2,758
8,530
2,575
8,097
2,935
8,711
3,089
9,475
3,090
9,421
3,388
9,469
3,519
9,972
3, 277
8,744
9,277
9,283
8,654
8, 987
118. 85 126. 45
124.93
105.98
108. 56
108. 08
99.47
100. 55
106. 11
104. 21
124. 59
mil. $— 117. 13
113.93
139. 33
462
770
559
'522
'784
'663
DOMESTIC TRADE
ADVERTISING
Printers' Ink advertising index, seas, adj.:?
Combined index
1957-59=100-jrsusiness pape _ _ _
Aiitrlnnr
Television advertising:
Network (major national networks):
Gross time costs total
Automotive incl accessories
Foods soft drinks confectionery
dO
118
112
127
120
112
126
123
108
128
123
113
133
125
108
128
123
108
137
128
121
138
127
111
142
127
119
140
129
114
138
126
117
139
96
88
95
144
102
72
78
151
103
87
84
160
99
91
83
158
107
104
76
160
100
86
87
157
103
86
82
159
105
79
103
157
94
83
112
165
106
65
112
171
90
114
99
163
-- mil. $__ 2 2208. 2
14.6
do
2
69 6
*39.9
do
221.9
Soaps cleansers, etc
do
2
23.9
Smoking materials
do
2
38. 4
All other
do
Spot (natl. and regional, cooperating stations):
2
Gross time costs, total— —
—
-mil. $— 217. 8
2
Automotive incl accessories
do — 2 8.1
42 8
Drugs and toiletries
do
2
73. 0
Foods s oft drinks confectionery
do
Soaps cleansers etc
Smoking materials
All other
do
do
do
Magazine advertising (general and natl. farm magazines):
Cost total
mil.$
Apparel and accessories
do
Automotive incl accessories
do
Building materials
_ __
do
Drugs and toiletries
do
Foods, soft drinks, confectionery
do
2
229. 1
14. 7
73.1
244.7
224.1
15.2
74.5
45.3
222.1
14.6
69.1
43.7
223.7
13.4
69.0
42:7
246.6
15.4
79 8
47.0
223.1
2
26.9
2
46.7
24.4
28.0
36.8
24.5
24.5
45.7
21.0
' 27. 4
50.1
22.3
27.8
54.3
255. 9
9.7
52.3
92.3
263.7
11.4
47.0
93.1
24.5
10.4
66.7
26.5
12.4
73.3
2
2
-
-
222.9
29.7
2
61 2
77.6
4.8
8.5
2.2
8.0
10.4
83.1
5.1
9.2
2.3
9.1
11.2
54.0
2.0
7.0
.9
6.2
9.0
73.0
3.3
9.1
1.8
8.0
10.9
86.7
6.7
98
2.3
91
12.8
1.7
3.3
Beer, wine, liquors
do _
4.7
4.9
5.5
6.0
2.7
3.6
Household equip., supplies, furnishings. .do
Industrial materials
- - _ _ do
3.7
3.1
4.0
1.8
1.0
.7
.9
1.3
Soaps, cleansers, etc
do _
3.0
2.4
3.1
3.2
Smoking materials..
do
19.7
All other
_
_
do
25.8
26.7
26.0
r
Revised. .1 Index as of Mar. 1,1965: Building, 118.0; construction, 126.0.
2
Annual average based on quarterly data. 8 End of year.
^Copyrighted data; see last paragraph of headnote, p. S-l.
9 Includes data for items not shown separately.
42
5.6
34
10
2.8
28.9
93.3
7.5
10.6
3.5
86
11.8
102.7
6.3
11.5
3.6
9.8
12.9
83.5
2.2
8.9
3.0
95
11.6
__
„
227.0 .__-__. _
9.0
44.1
74.9
_
24. 4
14.3
60.2
60.5
.6
63
2.0
77
10.2
58. 5
6.0
4.3
1.5
7.4
8.5
85.7
9.5
8.0
2.9
84
9.5
114.9
7.6
18.Q
2.6
11.9
12.9
103. 8
6.3
11.2
1.9
11 8
13.6
80.2
3.9
6.1
1.0
10 4
11.1
5.2
4.5
2.7
4.2
7,6
6.7
4.8
37
97
3.3
7.1
9.6
6.0
8.4
4.3
8.2
7.7
5.3
3.2
5.4
49
46
32
46
6.3
47
32
9
2.1
.7
23
1.9
1.6
2.0
8
1.2
3.2
3.0
2.7
3.2
3.2
3.8
3.7
3.6
3.6
30.0
33.2
18.5
18.0
26.3
27.9
25.0
34.8
32.7
©Monthly data prior to 1963 are on p. 20 of the Feb. 1965 SURVEY.
§ Data include guaranteed direct loans sold; these became sizable after 1962.
{Revisions for Jan. and Feb. 1963 are available upon request.
' 370
'638
'519
136. 18
385
633
522
SURVEY OF CURRENT BUSINESS
March 1 6
95
Unless otherwise stated, statistics through 1962
and descriptive notes are shown in the 1963
edition of BUSINESS STATISTICS
1963
1964
S-ll
1964
Monthly
average
Jan.
Feb.
Mar.
Apr.
May
June
1965
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
DOMESTIC TRADE—Continued
ADVERTISING— Continued
Newspaper advertising linage (52 cities):
Total
mil. linesClassified
do
238.0
62.5
247.8
65.6
210.6
59.8
210.4
60.9
248.0
66.3
265.1
68.6
275.9
74.8
247.0
68.4
226.5
66.9
238.0
70.5
248.2
64.9
265.0
67.6
276.4
63.7
262.3
54.8
223.8
65.2
175.6
12.5
4.9
23.8
134.3
182.2
13.3
5.1
24.4
139.4
150. 8
10.6
6.8
18.2
115.2
149.5
12.1
4.2
20.8
112.3
181.7
12.7
5.4
25.4
138.2
196.5
15.7
5.6
28.8
146.4
201. 1
17.1
4.8
29.2
150. 0
178.6
16.2
5.2
25.9
131.3
159.6
12.8
5.8
19.6
121.4
167.5
11.8
3.9
17.5
134.4
183.4
15.6
4.4
24.9
138.5
197.4
12.6
5.2
30.1
149.5
212. 8
13.1
4. 7
30.1
164.8
207.5
9.3
5.0
22.2
171.1
158.6
10.6
7.3
19.3
121. 4
20, 536
21, 802
19, 154
18,758
20, 502
21, 186
22,508
22,242
22,145
21, 778
21, 313
22, 605
6,675
3,830
3,600
230
7,093
4,041
3,800
240
6,031
3,677
3,488
189
6, 122
3,684
3,505
179
6,741
4,058
3,847
211
7, 360
4, 453
4, 215
238
7,693
4,551
4,289
262
7,719
4, 387
4, 110
277
7,399
4,159
3,896
263
7,011
3,853
3,611
242
6,893
3,728
3,503
225
7,133
3,858
3,614
244
6,813
3,713
3,471
242
' 8, 201 '6,649
'4,370 '4,193
'4,057
4, 006
'313
187
do
do...
do—
968
622
346
1,091
705
386
905
584
321
920
600
320
973
638
335
1,004
663
341
1,043
685
358
1,112
735
377
1,098
708
390
1,111
735
376
1,088
696
392
1,182
776
406
1,169
752
417
' 1, 488
'890
'598
'947
628
319
Lumber, building, hardware group
_do___
Lumber, bldg. materials dealers c?.---do__..
Hardware stores
do__
964
743
221
970
738
232
712
536
176
709
542
167
798
616
182
938
721
217
1,047
801
246
1,129
879
250
1,109
872
237
1,052
823
229
1,045
814
231
1,118
871
247
995
743
252
'992
'643
'349
747
553
194
Nondurable goods stores 9
do_
Apparel group
do
Men's and boys' wear stores
do___
Women's apparel, accessory stores
dol__
Family and other apparel stores
do___
Shoe stores.
.do .
13, 861
1,205
232
466
300
207
14,709
1,297
252
510
316
219
13, 123
1,026
208
407
234
177
12,636
927
176
375
220
156
13, 761
1,283
206
502
309
266
13,826
1,140
204
463
262
211
14,815
1,282
240
506
303
233
14,523
1,238
254
465
302
217
14, 746
1,118
221
427
275
195
14, 767
1,209
220
463
314
212
14, 420
1,289
234
497
323
235
15, 472
1,376
269
547
345
215
do....
.do
do
do
___.do
681
1,506
4,929
4,463
1,614
715
1,617
5,183
4,689
1,691
671
1,436
5,018
4,558
I, 566
656
1,386
4, 849
4,395
1,480
680
1, 485
4,891
4,406
1,585
665
1,547
4, 898
4,414
1,617
713
1,650
5,248
4,739
1, 708
705
1,711
5,114
4,613
1,754
707
1,796
5,484
4,971
1,820
708
1, 805
5,283
4,780
1, 801
701
1,671
5, 099
4,612
1,701
724
1,688
5,528
5,031
1,761
689
1,568
5,017
4,546
1,712
'966
'1,658
' 5, 762
' 5, 208
'1,790
'723
' If 554
' 5, 249
' 4, 784
r 1,686
i 703
1,450
4,831
4,382
1,543
General merchandise group 9
—
do
Department stores
do
Mail order houses (dept. store mdse.) -do
Variety stores.
do____
Liquor stores... _
_
do
2,388
1,390
177
3S5
472
2,643
1,553
195
431
497
1,872
1,094
140
289
433
1,875
1,069
146
313
427
2,303
1,336
178
389
434
2,310
1,366
179
361
446
2,479
1,463
173
399
485
2,491
1,481
170
395
472
2,380
1,384
158
398
500
2,591
1, 513
195
421
489
2,550
1,519
189
400
475
2,801
1,668
209
430
510
3,021
1,761
262
473
518
'5,048
'2,977
341
'901
'770
' 2, 069
' 1, 233
135
311
462
1,942
1,131
Display, total
Automotive
Financial
General
Retail
___
.
do
do
--. •-. do .
do
do
RETAIL TRADE
All retail stores:
Estimated sales (unadj ) total
mil. $
Durable goods stores 9 _
do _.
Automotive group
do
Passenger car, other auto, dealers
do__.
Tire, battery, accessory dealers d o _ _
Furniture and appliance group _
Furniture, homefurnishings stores
Household appliance, TV, radio
Drug and proprietary stores
Eating and drinking places
Food group
Grocery stores
Gasoline service stations
_
21,720 '27,719 '20,567 119, 364
i 6, 466
i 4, 105
1925
14,907 ' 19,518 ' 13,918 112, 898
1,355 ' 2, 324 '1,097
1906
273
'523
225
539
'924
433
333
'571
251
210
'306
188
do
21, 000
21,533
21,223
21, 392
21,777
21,773
21, 935
22,266
22,254
21, 383
Durable goods stores 9
Automotive group.
...
Passenger car, other auto, dealers
Tire, battery, accessory dealers
do
__do
do
do
6,855
3,951
3,711
240
7,262
4,162
3,925
237
6,939
3,894
3,646
248
7, 010
4,026
3,788
238
7,218
4, 126
3,880
246
7, 002
3,885
3,645
240
7,060
3, 989
3,755
234
7,324
4, 259
4,025
234
7,541
4, 531
4,301
230
6,496
3,495
3,265
230
6,695
3,685
3,428
257
'7,645 ' 7, 840
' 4, 588 4,680
'4,344
4,441
'244
239
Furniture and appliance group
Furniture, homefurnishings stores
Household appliance, TV, radio
do
do
do
1,019
671
348
1,073
707
366
1,088
711
377
1,095
701
394
1,080
699
381
1,108
735
373
1,107
709
398
1,094
719
375
1,067
679
388
1,088
703
385
1,098
701
397
'1,113
'702
'411
1,095
744
351
949
730
219
1,007
779
228
936
727
209
912
707
205
974
754
220
992
765
227
954
732
222
938
711
227
966
729
237
983
741
242
982
721
261
' 1, 004
'742
'262
1,056
805
251
14, 145
1,250
231
497
302
220
14,271
1,291
246
505
326
214
14, 284
1,228
233
477
292
226
14,382
1,272
241
504
308
219
14,559
1, 295
250
502
320
223
14,771
1,322
244
522
338
218
14,875
1,316
257
509
333
217
14, 942
1,363
269
519
351
224
14,713
1, 285
261
504
314
206
14,887
1,301
259
512
320
210
694
1,580
5,031
4,548
1, 638
666
1,593
4,991
4,513
1,641
702
1,584
5,112
4,605
1,629
689
1,599
5,064
4,574
1,674
713
1,589
5,034
4,540
1,670
721
1,623
5,202
4,704
1,683
726
1,642
5,261
4,769
1, 701
722
1,633
5,234
4,743
1,690
734
1,600
5,250
4,755
1,695
739
1,637
5,229
4, 736
1,722
724
1,609
5, 258
4,774
1, 738
731
742
'1,653
1,698
' 5, 409 5, 200
'4,913
4,712
'1,755
1,756
2, 481
1,464
181
410
471
2,592
1,538
197
408
482
2,489
1,467
188
404
491
2,514
1,467
192
421
486
2, 589
1,543
190
420
495
2,620
1,533
200
427
503
2, 686
1,580
192
443
495
2,734
1,630
205
439
494
2,591
1, 516
192
427
499
2,664
1,568
198
429
503
2,738
1,580
191
466
509
' 2, 762
' 1, 600
196
'442
'508
2,799
1,687
193
439
507
28, 780
11, 993
' 5, 010
' 2, 000
' 2, 316
29, 022
12, 480
5,436
1,995
2,341
Estimated sales (seas adj ), totalj
Lumber, building, hardware group
Hardware stores
...do .
do __
Nondurable goods stores 9
do
Apparel group. ._
___.do.___
Men's and boys' wear stores ._._
do
Women's apparel, accessory stores
do
Family and other apparel stores
do
Drug and proprietary stores
Eating and drinking places..
Food group
__
_'
do
do...
do
Gasoline service stations
..do
General merchandise group 9
__
do
Deoartment stores
do
Mail order houses (dept. store mdse.) .do
Variety stores...
do. _
Liquor stores
_
do
Estimated inventories, end of year or • month :f
Book value (unadjusted), total
.mil. $__
Durable goods stores 9—-.-.
do
Automotive group
do
Furniture and appliance group.
do
Lumber, building, hardware group _ do...
21,661 r 99 7Q1 '22,881
14,966 ' 15,136 15,041
1,310 '1,300
1,325
261
252
'257
517
524
'518
303
' 299
320
229
'226
229
28,500
12,255
5,353
1,975
2,316
28,780
11,993
5,010
2,000
2,316
28,595
12,570
5,659
1,939
2,296
29,327
12,953
5,961
1,955
2,317
30,200
13,384
6,159
2,023
2,416
30,566
13,508
6,157
2,055
2,447
30,352
13,481
6,085
2,064
2,452
30,118
13,380
6,027
2,040
2,452
29, 851
13, 112
5,849
2, 041
2,398
29, 227
12, 127
4,874
2,024
2,388
29, 672
12, 026
4,763
2,074
2,374
29, 897 30,628
11, 603 11, 998
' 4, 345 ' 4, 605
2,107
2,137
2,346
2,351
16,245
3,380
3,554
4, 767
2, 512
16, 787
3,509
3, 783
4,824
2,626
16,025
3,354
3,553
4, 623
2,400
16,374
3,514
3,642
4,699
2, 446
16,816
3,611
3,698
4,896
2, 556
17,058
3, 655
3, 691
5,035
2,613
16,871
3,570
3,673
4,978
2,608
16,738
3,499
3,664
4,931
2,555
16, 739
3,482
3,619
5,033
2,616
17, 100
3,728
3,631
5,116
2,707
17, 646
3,906
3,719
5,381
2,875
18,294
4,017
3,818
5,745
3,131
18,630
4,059
3,835
5,888
3,232
16,787
' 3, 509
' 3, 783
'4,824
2,626
29,961
13,045
5,701
2, 041
2,357
29,926
13,024
5,624
2,066
2,371
30,180
13,079
5,724
2,054
2,399
30,129
12, 924
5,619
2,070
2,377
29, 967
12, 762
5,570
2,024
2,383
30,082
12, 867
5,677
2,045
2,388
29,314
12, 076
4,983
2,030
2, 379
29,332
12,066
4,973
2, 026,
2,382
29, 621
12,220
r 5, 045
' 2, 033
' 2, 398
15, 271
16, 542
3,395
3,727
4, 787
2,552
Book value (seas, adj.), total
.....do... 29,383 29, 621 29,608 29,586 29,661
Durable goods stores 9
do.... 12,509 12, 220 12,666 12,708 12,913
Automotive group
._.....
do
5, 435
5,494
5,499
5,045
5,650
Furniture and appliance group.. ..._.do...I 2,013
2, 022
2,033
2, Oil
2,037
Lumber, building, hardware group, -do
' 2,402
2, 379
2,398
2,357
2,357
'Revised.
i Advance estimate.
9 Includes d ata not shown s eparatelj
cfC omprises lumber yards, building materials dealers, and paint, pi umbing, and elecl,rical stoires.
{Revised (back to Jan. 1953) to reflect use of.ne^r seasona I factors and new adjustm ents
for trading day differences.
Revisions for period* not she>wn here appear in the .Fuly
1963 Census report, "Monthly Retail Trade Report , Adjust<3d Sales, Supplen lent."
i 7, 744
30, 013
12, 585
5,273
2,067
2, 436
Nondurable goods stores 9
Apparel group
_
Food group
,
General merchandise group
Department stores*
fc
do._._
do
do
do
—do..—
fRev ised series. Revij?ed to t£ike accoiint of b Michmar]£ data f rom the 1962 amI 1963
Annua Survey 3 of Retetil Trade ; revisio]is throu ?h 1962 ippear 01i pp. 16--19 of th B Deo..
2
1963 Su RVEY an d those 1Dack to J an. 1963 on p. 28 of the S(ipt. 1964 SURVEY.
*Ne\*' series; f yr earlier periods 1sack to I)ec. 1956 see p. 32 of the A pr. 1964 iSURVEY.
SURVEY OF CURRENT BUSINESS
S-12
Unless otherwise stated, statistics through 1962
and descriptive notes are shown in the 1963
edition of BUSINESS STATISTICS
1963
1964
March 1965
1964
Monthly
average
Jan.
Feb.
Mar.
Apr.
May
June
1965
July
Aug.
Sept.
17, 215 '17,238 '17,266
3,672
3,687
3,681
3,729
3, 727
3,730
5,112 ' 5, 137 * 5, 159
2, 754
2, 779
2,730
Oct.
Nov.
Dec.
Jan.
'17,401
' 3, 682
' 3, 833
' 5, 192
2,821
17, 428
3, 670
3,823
5,260
2, 839
Feb.
DOMESTIC TRADE—Continued
RETAIL TRADE— Continued
All retail stores— Continued
Estimated inventories, end of year or month§—
Continued
Book value (seas, adj.)— Continued
Nondurable goods stores 9
mil. $
Apparel group
do
Food group
__do __
General merchandise group
do
Department stores*
do
16,874
3,539
3,568
5,186
2,730
17,401
3,682
3,833
5,192
2,821
16,942
3, 646
3,659
5,101
2,679
16, 878
3,657
3,683
4,959
2, 622
16, 748
3,593
3,680
4,923
2,564
16,916
3,630
3,665
4,999
2,557
16,902
3,610
3,651
4,996
2,600
17, 101
3,672
3,664
5,102
2, 670
17, 205
3,692
3,670
5,215
2,751
17, 205
3,698
3,709
5,117
2,734
do
5,813
6,301
5,328
5,143
5,773
5,819
6,253
6,109
6,157
6, 230
6,186
6,766
6,566 '9,280
5, 707
do
4, 857
5,266
4,478
4,330
4,859
4, 858
5, 233
5,107
5,169
5,202
5,133
5,637
5,451
7,734
4,696
Apparel group 9
do
lien's and boys' wear stores
do
Women's apparel, accessory stores. _ _ ~ do
Shoe stores
do
316
30
134
88
345
32
146
95
247
26
97
73
228
22
95
66
365
29
147
119
304
26
132
86
350
33
148
100
335
32
144
94
292
26
125
82
329
25
143
91
341
28
140
103
361
36
153
90
367
37
161
91
626
67
272
147
263
28
106
74
Drug and proprietary stores
do
Furniture, homefurnishings stores
do
144
104
42
158
120
46
140
102
32
138
100
39
148
111
45
141
111
44
152
120
47
152
131
46
153
134
44
151
138
47
154
129
45
160
127
53
155
120
54
252
123
56
149
115
36
1,585
985
295
1,974
63
91
1,781
1,113
327
2,075
66
100
1,262
790
216
2,086
46
75
1,246
763
238
1,982
47
72
1,564
968
304
1,970
52
82
1,592
1,002
281
1,975
61
96
1, 696
1,074
306
2,125
69
106
1,698
1,075
304
1,981
79
115
1,605
1,003
299
2,158
81
108
1,756
1,089
320
2,021
75
101
1,717
1, 079
305
1,999
77
93
1,877
1,182
330
2,293
75
104
2,004
1,247
350
1,981
68
102
3,358
2,089
675
2,332
56
142
1, 375
887
229
2, 125
48
80
Firms with 4 or more stores:
Estimated sales (unadjusted) total
Firms with 11 or more stores :
Estimated sales (unadj ) total 9
General merchandise group 9 .
do
Deot stores excl mail order sales
do
Variety stores
__do__
Grocery stores
do
Lumberyards, bldg. materials dealers cf-do
5,089
5,111
5,126
5,105
5,165
5,240
5,311
5, 366
5,296
5,309
5,382
5,440
5,363
Apparel group 9
Teen's and boys' wear stores
Women's apparel accessory stores
Shoe stores
do __
do
do
do
336
31
139
94
337
33
140
90
326
29
136
98
343
31
151
91
348
34
146
95
349
32
153
91
351
33
149
96
369
33
156
103
337
33
142
92
341
33
144
90
349
32
149
100
353
32
148
100
355
33
151
94
Drug and proprietary stores
Eating and drinking places
Furniture homefurnishings stores
do
do
do- _
152
111
41
148
110
47
157
112
46
147
112
46
157
115
45
156
127
46
161
126
46
158
130
48
165
125
47
167
123
46
160
122
47
163
122
45
159
124
49
1,698
1,057
318
2,041
63
99
1,743
1, 090
318
2,018
67
98
1,721
1,075
319
2,055
62
96
1,718
1, 049
329
2,030
61
96
1,768
1,110
320
1,999
64
99
1,759
1,087
324
2,066
67
100
1,791
1, 124
329
2,084
67
96
1,830
1,154
328
2,083
64
100
1,755
1,093
327
2,105
68
97
1,783
1,113
325
2,113
63
100
1,830
1,147
344
2, 110
66
106
1,819
1,145
330
2, 174
66
103
1,897
1,223
336
2,045
70
105
U5,484 116,817
6,626
6,885
8,858
9, 932
7,826
8,025
7,658
8, 792
14, 628
6,259
8,369
7,409
7,219
14,123
6,083
8,040
7,126
6,997
14,335
6,131
8,204
7,221
7,114
14,638
6,218
8,420
7,431
7,207
15,197 15,140
6,647
6,491
8,706 8,493
7,718- 7,594
7,479 7,546
15, 334
6,691
8, 643
7,535
7, 799
15,412
6,724
8,688
7,502
7,910
15, 569
6,833
8,736
7,555
8,014
15,662
6,799
8,863
7,584
8,078
15, 729
6,646
9,083
7,611
8,118
'16,817
' 6, 885
'9,932
' 8, 025
' 8, 792
16, 266
6,602
9,664
7, 710
8, 556
49
17
49
17
49
17
48
16
50
18
48
18
48
17
51
18
50
17
48
17
49
17
50
18
50
18
50
18
49
17
43
39
18
43
39
18
43
37
20
42
39
19
43
39
18
42
40
18
43
40
17
44
38
18
45
37
18
44
38
18
43
39
18
42
40
18
43
39
18
46
38
16
43
36
21
192. 12
192. 36
192. 60
192. 85
193. 08
193. 29
193. 50
193. 68
Estimated sales (seas adj ) tota!9t
do
General merchandise group 9
do
Dept stores excl mail order sales
__do
Variety s tores
do
Grocery stores
do
Lumber yards bldg materials dealerscT do
Tire battery accessory dealers
_do
All retail stores, accounts receivable, end of mo.:
Total
mil. $
Durable goods stores
__do
Nondurable goods stores
do
Charge accounts
__do__
Installment accounts
.-do
Department stores:
Ratio of collections to accounts receivable:
Charge accounts
percent
Installment accounts
'
do
Sales by type of payment:
Cash sales
percent of total sales._
Charge account sales
do
Installment sales
do
EMPLOYMENT AND POPULATION
POPULATION
Population, U.S. (incl. Alaska and Hawaii):
Total, incl. armed forces overseas©
mil_. 2189.42 2192.12
190. 86
191. 06
191. 26
191. 46
191. 67
191. 89
EMPLOYMENT
Noninstitutional population, est. number 14 years
of age and over, total, unadj —
mil__ 132. 12
Total labor force, incl. armed forces
Civilian labor force, total...,
Employed, total
Agricultural employment
Nonagricultural emplovment
Unemployed (all civilian workers)
Long-term (15 weeks and over)
Percent of civilian labor force
Not in labor force
thous_.
do____
do
_ do
do_
do____
do
75, 712
72, 975
68, 809
4, 946
63, 863
4,166
1,088
5.7
thous_. 56, 412
133. 20
133. 36
133. 52
133. 68
133.87
134.04
134.22
134. 40
134. 59
134. 77
134.95
135. 14
135. 30
135.47
76,971 74, 514
74, 233 71, 793
70, 357 67, 228
4,761
3,993
65, 596 63, 234
75, 259
72, 527
68, 002
3,931
64,071
75, 553
72,810
68, 517
4,017
64,500
76, 544
73, 799
69,877
4, 429
65, 448
77,490
74, 742
71, 101
5,007
66, 094
79,389
76, 645
71, 953
5,853
66, 100
78, 958
76, 218
72, 405
5,819
66, 586
78, 509
75,758
72, 104
5,400
66, 704
76,865
74, 122
70, 805
5, 230
65, 575
77, 112
74, 375
71, 123
5,' 126
65, 997
76,897
74, 166
70, 793
4,545
66, 248
76,567
73,841
70, 375
3*. 785
66, 590
75, 699
72, 992
68,996
3, 739
65, 257
76, 418
73,714
69, 496
3,803
65, 694
4,565
1,106
6.4
58, 685
4,524
1,163
6.2
58, 099
4,293
1,322
5.9
57, 965
3, 921
1,237
5.3
57,135
3,640
1,084
4.9
56, 376
4,692
1,007
6.1
54, 652
3,813
857
5.0
55, 258
3,664
790
4.8
55,891
3,317
764
4. 5
57, 721
3,252
780
44
57, 661
3,373
759
4 5
58,055
3,466
802
4.7
58, 568
3,996
845
55
59, 603
4,218
1,050
5.7
59, 051
73, 798
69, 812
4,637
65, 175
3,986
1,038
74, 507
70, 486
4,791
65*, 695
4,021
952
74,477
70, 639
4,849
65*, 790
3,838
938
74, 305 74, 188
70, 345 70, 496
4, 826
4,864
65* 519 65*. 632
3*692
3^960
962
l' 066
74, 255 74,280
70, 458 70, 465
4' 817
4 815
65*. 641 65' 650
3' 797
3,' 815
' 910
924
74,259
70, 379
4 721
65* 658
3*880
933
74, 409
70, 755
4 671
66* 084
3*654
932
74, 706
71, 004
4 ^41
^t, O^tl
66 463
3' 702
889
74, 914 75,051
71 284 71,304
4 595
4 513
66 771 66*, 709
3*630 3,' 747
905
' 823
134. 14
3,^876
973
5.2
57, 172
Civilian labor force, seasonally adjtdo____
73, 654 73, 819
Employed, total, __ __.
_ do
69, 568 69, 842
Agricultural employment. _
do
4,791
4,883
Nonagricultural employment
do
64, 685 65, 051
Unemployed (all civilian workers) _
do
3,977
4,086
Long-term (15 weeks and over)
do
1, 077
1,003
Rates (percent of those in group) :
All civilian workers.
___
55
5.4
Experienced wrfge and salary workers
5.5
5.6
5.3
5.2
2
'Revised.
1 End of year.
As of July 1.
§See note marked "f" on p.
9 Includes data not shown separately.
* New series; see corresponding note on p.
crComprises lumber yards, building materials dealers, and paint, plumbing, and
tncal stores.
fSee note marked"!" on p. S-ll.
54
5.2
S-ll.
S-ll.
elec-
5.4
5.2
50
5.0
53
5. 1
50
48
5. 1
5 2
4.9
5.1
4.9
5! 3
4.6
18
4! 9.
4'. 9
4i 5
4! 7
415
5.0©Revisions for May 1960-Dec. 1963 are available upon request.
t Revised monthly data (back to Jan. 1957) appear in the "Monthly Report on the
Labor Force," Jan. 1965, U.S. Dept. of Labor, Wash., D.C., 20210.
SURVEY OF CUKKENT BUSINESS
March 1965
Unless otherwise stated, statistics through 1962
and descriptive notes are shown in the 1963
edition of BUSINESS STATISTICS
1964
1963 | 1964
Monthly
average
S-13
Jan.
Feb.
Mar.
Apr.
May
June
1965
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.*
EMPLOYMENT AND POPULATION—Continued
EMPLOYMENT— Continued
Employees on payrolls (nonagricnltural estab.):f
Total unadjusted!
. _ ._
thous— 56,643
58, 188
56,328
56,445
56,783
57,329
57,874
58,596
58,418
58,680
59,258
59,164
59,441 '59,938 '58,265
58,289
17, 005
9,625
7,380
17,303
9, 848
7,455
16,893
9,626
7,267
16, 937
9,634
7, 303
17,005
9,692
7,313
17,058
9,756
7,302
17, 135
9,798
7,337
17,350
9,903
7,447
17,299
9,855
7,444
17, 498
9,836
7,662
17,792
10, 105
7,687
17, 428
9,806
7,622
17, 638 '17,601 '17,457
10, 071 '10,093 '10,041
7,567 '7,508 '7,416
17, 524
10,092
7,432
do
do
do
do
635
80
148
289
635
82
144
289
618
80
148
285
614
81
147
282
615
81
144
282
627
83
144
283
634
84
142
285
651
85
143
295
646
78
143
297
647
78
143
297
645
80
144
292
644
84
145
288
Contract construction
_ . _ . __ .do
Transportation and public utilities? ..... do
Railroad transportation
do
Local and Interurban passenger transit—do
2,983
3,914
772
272
3, 106
3,976
758
275
2,579
3,877
751
283
2,631
3,880
749
282
2,707
3,885
751
272
2,921
3,924
758
277
3,130
3,952
761
278
3,308
4,005
767
269
3,424
4,031
771
262
3,482
4,043
770
260,
3,391
4,045
761
277
3,376
4,028
755
280
Motor freight trans, and storage.
..do
Air transportation
_ _
do
Telephone communication
...do
Electric, gas, and sanitary services
do
912
201
685
610
949
212
702
612
900
205
682
606
902
205
685
605
903
206
687
606
914
207
695
608
928
209
697
610
963
212
705
616
971
215
715
625
977
216
716
625
991
217
712
617
984
217
708
610
11,803
3,119
8,685
2,873
8,230
9,199
12, 188
3,220
8,969
2,944
8,533
9,502
11,855
3,172
8,683
2,882
8,233
9, 391
11, 772
3,156
8,616
2,891
8,277
9,443
11,862
3,156
8, 706
2,901
8,328
9,480
11,919
3,161
8,758
2,919
8,453
9,508
12,031
3,170
8,861
2,931
8,548
9,513
12, 180 42,173
3,211
3^245
8,969
8,928
2,964
2,998
8,654
8,698
9,484
9,149
12, 201
3,266
8,935
2,998
8,676
9,135
12,243
3,258
8,985
2,972
8,661
9, 509
12,341
3,269
9, 072
2,961
8,676
9,710
12,518 '13,166 '12,286
3,298 '3,256
3,272
9,246 '9,868 '9,030
2,958 '2,957 ' 2, 947
8,608 ' 8, 585 ' 8, 513
9,790 '9,917 ' 9, 732
12, 195
3,241
8,954
2,957
8,551
9,793
156,643 1 58, 188
Total, seasonally adjustedf
do
Manufacturing establishments
do
17,005 17, 303
9,848
Durable goods industries
.do
9,625
258
Ordnance and accessories..
.do
274
596
Lumber and wood products
do
587
402
Furniture and
fixtures
_
, do
389
616
Stone, clay, and glass products
—do—
602
1,226
Primary metal industries _ _
—do
1,172
57,334
17,131
9,725
274
597
392
609
1,183
57, 684
17,171
9, 740
271
602
394
613
1,189
57, 754
17,208
9,784
269
603
397
616
1,190
57,827
17,224
9,798
267
600
398
613
1, 196
57, 931
17, 225
9,780
265
596
398
613
1,199
58, 104
17,285
9,826
260
593
402
616
1,222
58, 256
17,344
9,890
255
599
405
618
1,246
58,301
17,339
9, 886
250
595
403
617
1,242
58,458
17, 449
9,986
248
593
405
620
1,258
58,382
17, 171
9,702
247
591
407
616
1, 253
58, 878 '59,206 '59,328
17,505 '17,622 '17, 707
9,992 '10,088 '10,147
242
'243
245
'598
'595
595
413
'415
409
'620
'623
618
'1,271 '1,277
1,269
59, 560
17, 757
10,200
244
599
417
619
1,277
Manufacturing establishments . . . . _do
....
Durable goods industries
do
Nondurable goods industries.
do
Mining total? _
Metal mining
Coal mining
Crude petroleum and natural gas
Wholesale and retail trade
——..do
Wholesale trade
do
Retail trade
do Finance, Insurance, and real estate
...do
Services and miscellaneous
;_do
(Government
do -
643
85
145
289
'635
84
146
287
'619
84
143
.282
615
3,273 '3,053 '2,833
4,013 '4,024 ' 3, 878
'748
747
729
'282
282
280
2,730
3,924
980
218
710
608
' 975
'220
'710
609
939
220
710
607
Fabricated metal products
.— .do
Machinery
j do
Electrical equipment and supplies. ..do
1,153
1,531
1,557
1, 197
1,612
1,549
1,174
1,572
1,540
1,183
1,565
1, 535
1,187
1,584
1,535
1,190
1,589
1,536
1,185
1,597
1,533
1,192
1,608
1,537
1,196
1,620
1,550
1,208
1,625
1,546
1,223
1,643
1,558
1,179
1,644
1,560
1,213 ' 1, 232 '1,241
1,643 '1,665 ' 1, 672
1, 572 '1,588 ' 1, 598
1,257
1,677
1,608
Transportation equipment.
..do
Instruments and related products
do
Miscellaneous manufacturing ind_ _ . .do
1,609
365
387
1,623
369
400
1,626
367
391
1,626
368
394
1,641
368
394
1,646
368
395
1,633
367
394
1,628
369
399
1,632
371
398
1,632
369
399
1,667
369
402
1,429
368
408
1,646 ' 1, 671 '1,693
374
'374
371
'414
'416
411
1,704
377
421
Nondurable goods industries
•_: do
Food and kindred products
— _do
Tobacco manufactures.
.....do
Textile mill products.
— ... — .do
Apparel and related products
do
Paper and allied products
do
Printing, publishing, and allied lnd..do
Chemicals and allied products
do
Petroleum refining and related ind...do
Rubber and misc. plastic products _ _ .do
Leather and leather products
...do
7,380
1,744
88
889
1,284
620
931
865
190
418
351
7,455
1,730
88
897
1, 310
630
952
877
187
430
354
7,406
1,743
87
891
1,291
625
943
871
189
419
347
7,431
1,746
88
896
1, 296
627
944
872
189
424
349
7,424
1,738
88
897
1,290
627
946
874
188
426
350
7,426
1,730
88
895
1,298
629
948
871
187
427
353
7,445
1,731
89
895
1,305
630
952
874
187
429
353
7,459
1,720
89
895
1,323
631
953
880
187
427
354
7,454
1,719
89
894
1, 309
632
955
879
187
433
357
7,453
1,726
83
895
1,311
631
954
879
185
435
354
7,463
1,716
82
899
1, 317
632
956
881
185
439
356
7,469
1,717
90
899
1, 319
634
955
878
187
433
357
7,534 '7,560
7,513
1,737 ' 1, 743 '1,742
'88
'86
92
' 909 '913
904
1,333 '1,348
1,329
'634
635
635
'964
962
956
'887
'885
882
'184
185
185
443
438
436
'358
'357
357
7,557
1, 732
88
915
1,339
637
967
888
184
450
357
633
3,081
3,964
12, 096
2,931
8,461
9,437
631
3,093
3,968
12, 135
2, 934
8,489
9,456
639
3,106
3,965
12, 187
2,943
8,509
9, 470
639
3,107
3,983
12,223
2, 948
8,561
9,451
634
3,103
3,999
12,231
2,951
8, 573
9,471
634
3, 080
4,005
12, 229
2,960
8,592
9,509
638
3,106
3,996
12,278
2,964
8, 633
9,596
;
Mining
do
635
632
633
635
633
Contract construction
' do
2, 941 3,132
3,122
2,983 3, 106
Transportation and public utilities
..do
3, 976
3,936
3,914
3,943 3,940
Wholesale and retail trade __•
do
11,803 12, 188 12, 021 12, 083 12, 077
Finance, insurance, and real estate
..do
2, 911 2,917 2,924
2,873 2,944
Services and miscellaneous
.do
8,533
8,401 8, 437
8,230
8,455
Government
•>
do
9,502
9,361 9,368
9,395
9,199
Production workers on mfg. payrolls, unadj isted:f
Total, unadjustedf
- .
'ihous.. 12, 558 12,808 12,435 12, 482 12, 543
Seasonally adjusted
.do ._
12, 659 12, 692 12, 731
Durable goods industries, unadjusted, .do
7,030
7,238
7,029
7,041 7,095
Seasonally adjusted
do
7,124
7,139
7, 181
Ordnance and accessories
do
107
116
116
112
111
Lumber and wood products
do
533
525
504
507
506
Furniture and
fixtures.
do
334
323
322
323
326
Stone, clay, and glass products
.do
496
484
461
474
465
Primary metal industries
do
998
947
950
972
964
Blastfurnaces, steel and rolling mills _do
456
424
418
434
428
Fabricated metal products _
do
920
884
891
892
898
Machinery
do
1,121
1,059
1,089
1,110
1,087
Electrical equipment and supplies. _ .do
1,040
1,037
1,028
1,017
1,013
Transportation equipment 9
do
1, 133
1,113
1,149
1, 150
1,145
Motor vehicles and equipment
do
593
577
611
610
603
Aircraft and parts
do
338
348
353
350
346
Instruments and related products
do _ .
234
232
231
232
231
Miscellaneous mfg. industries
do
320
311
289
302
299
Nondurable goods industries, unadj
do
5, 570
5,528
5, 406
5,441 5, 448
Seasonally adjusted
do
5, 535
5,553
5, 550
Food and kindred products
do
1,144
1,161
1,088
1,062
1, 069
Tobacco manufactures
____
.do..
76
76
75
73
69
Textile mill products.
.do
802
796
787
794
797
Apparel and related products
Ldo
1,164
1,139
1, 121
1, 158
1, 160
Paper and allied products...
.do
493
488
484
483
485
Printing, publishing, and allied ind._do
591
603
593
595
598
Chemicals and allied products
do
525
529
520
521
529
Petroleum refining and related ind /do
120
116
115
116
116
Petroleum refining
do
96
92
94
94
93
Rubber and misc. plastic products.. .do
322
332
321
323
325
Leather and leather products
.do.."
309
311
304
307
308
| Revised, v; Preliminary.
1 Total and comp a re based on una<ijusted data,
onents
mployment, hou rs, earnirigs, and abor
rks. Th e revisioQ affects data ba to
Apr. 1962 for most seriesjback to Apr. 1957 tototol and Gov eminent employecent, an<sk for
I,
639
3, 162
3,W7
12, 311
2,970
8,634
9,660
'633
'3,230
'3,937
r 12, 362 12,458
'2,975 '2,977
' 8, 654 ' 8, 687
'9,692 ' 9, 699
'637
'3,244
'4,020
634
3,250
3,988
12, 517
2,984
8, 717 ,
9,713
12, 592 12,666 12, 847 12,768 12,966 13,280 12, 915 13,125 13, 082 12, 946 13, 003
12, 732 12, 736 12, 794 12, 839 12, 847 12, 956 12, 661 12,993 13,099 13, 170 13, 217
7,465
7,160
7,201 7, 292
7,211 7, 490
7,227
7,190
7,454 '7,471 '7,420
7,567
7,174
7,188
7,219
7,271
7,279
7,377
7,089
7,376 '7,467
102
'101
110
108
102
106
104
103
104
103
103
502
'499
519
534
556
'521
560
561
555
534
543
342
'342
328
325
334
'344
341
333
344
347
346
471
'473
487
499
513
514
'489
519
519
511
506
1,044
984
994
1,005
1,032 ' 1, 036
1,009
1,003
1,027
1, 013 1, 026
479
444
452
462
470
477
466
476
470
473
957
'949
907
911
927
'954
931
909
961
918
946
1,176
1,118
1,121 1, 130
1,120
1,118
1,142
1,132
1, 130 '1,159 ' 1, 166
1,089
1,012
1, 089
1,010
1,022
1, 022
1,092
1,037
1,068
1,075
1,086
1,224
1, 157
1,155
1, 143
1,117
1, 027
1,186
964
1,192 '1,215 '1,219
669
614
613
606
495
'666
589
642
643
427
334
'336
343
338
334
'336
328
328
336
334
335
238
237
231
230
233
232
235
238
237
234
238
319
'308
308
313
323
314
331
'325
345
351
347
5,538
5,432
5,465
5,555
5, 541 5,755
5, 790
5,671 '5,611 ' 5, 526
5, 725
5,544
5, 562
5,575
5,568
5, 568
5,579
5,572
5,617 '5,632 ' 5, 655 5,650
1, 070
1,085
1,126
1, 171
1,262
1,272
1,224
1,168 ' 1, 131 ' 1, 083 1,055
74
'73
66
65
65
82
80
65
91
85
95
809
'804
798
800
807
809
793
808
811
811
813
1,199
1,137
1, 141 1, 161 1,133
1, 194
1,196
1, 189
1,195 '1,181 ' 1, 173
489
491
490
488
498
492
499
496
501
499
499
610
608
599
601
603
599
602
'615
610
612
610
531
'529
533
534
533
530
'528
532
532
525
527
110
110
115
117
119
111
118
118
118
113
116
88
92
88
92
93
92
92
'89
91
89
91
346
'342
324
328
329
342
326
337
345
342
343
315
302
'313
304
313
313
'317
320
315
313
317
season ally adju sted data , all series beginn ng Jan. 1953 with only mixior revisions prior to that
time, Revisioiis not sh<3wn are £ivailable inBLSlBulletin L312-2, ." Employ]tnent an d Earnings St atistics l or the U nited Stsites, 1909-64," $3. 50, GPO Wash., D.C., 20402.
?In eludes da ta for in<iustries ilot shown separat ely.
SURVEY OF CURRENT BUSINESS
S-14
Unless otherwise stated, statistics through 1962
and descriptive notes are shown in the 1963
edition of BUSINESS STATISTICS
1963
1964
Monthly
average
March 1965
1964
Jan.
Feb.
Mar.
Apr.
May
June
1965
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.*
EMPLOYMENT AND POPULATION—Continued
EMPLOYMENT— Continued
Miscellaneous employment data:
Federal civilian employees (executive branch) :
United States
—
thous—
Wash., D.C., metropolitan area..
do —
2,328
239
2,317
243
2,293
239
2,291
240
2,293
241
2,304
241
2,302
241
2,314
246
2,325
249
2,326
247
2,290
243
2,299
244
2, 322
245
12,452
Railroad employees (class I railroads) :
Total
do
Index seasonally adjusted
1957-59=100
714
277.1
683
275.5
680
73.8
676
74.3
677
74.9
685
75.7
688
75.3
693
75.2
696
75.6
695
76.0
••684
'76.1
' 678 *>671
' 76.1 "76.7
* 670
124.6
117.9
90.9
134.7
124.7
93.5
100.0
117.5
88.6
106.7
119.2
87.6
111.6
120.2
86.6
124.1
121.7
90.1
136.6
123.3
93.1
146. 5
125.8
96.8
153.3
124.1
94.8
158.8
126.4
96.7
147.8
130.9
95.6
155.6
125. 4
98.6
142.6
129.4
97.9
r 133. 3
40.5
40.7
2.8
41.1
3.1
41.4
40.3
40.7
2.7
41.0
41.3
2.8
40.4
40.6
2.8
41.0
41.2
2.9
40.5
40.7
2.9
41.3
41.4
3.1
40.7
40.6
3.0
41.5
41.3
3.2
40.9
40.6
3.2
41.7
41.4
3.4
40.7
40.6
3.0
41.3
41.3
3.1
40.9
40.8
3.3
41.5
41.5
3.5
40.7
40.5
3.5
41.5
41.4
3.7
40.7
40.5
3.3
41.3
41.2
3.4
40.9
40.9
3.3
41.6
41.6
3.5
41.4
41.2
'3.6
42.3
42.0
'4.0
40.9
41.4
'3.2
41.8
42.3
'3.5
41.0
41.4
3.3
41.8
42.1
3.6
r 1 247
2,293
245
INDEXES OF WEEKLY PAYROLLS!
Construction (construction workers) !_1957-59= 100..
Manufacturing (production workers)t
do —
Mining (production workers)!
do— -
120.2
' 132. 1 '129.3
'96.0
93.2
130.2
HOURS AND EARNINGS t
Average weekly gross hours per production worker
on payrolls of nonagric. estab., unadjusted:!
All manufacturing estab , unadj.f hours..
2.9
3.3
39.8
40. 2
2.7
40.6
41.1
2.9
Ordnance and accessories...
_— do—
Lumber and wood products
- do
Furniture and fixtures
- do
Stone clav and glass products
do
Primary metal industries. __
_
do
Blast furnaces, steel and rolling mills .do
41.0
40.1
40.9
41.3
41.0
40.0
40.4
40.0
41.1
41.5
41.8
41.1
40.9
38.6
39.4
39.8
41.1
40.0
40.3
39.6
40.7
40.7
41.1
40.0
40.2
39.6
40.6
40.9
41.4
40.5
40.3
39.9
40.7
41.6
41.6
40.9
40.1
40.5
40.5
42.1
41.8
41.0
40. 5
40.8
41.1
42.1
42.0
41.1
39.9
40.5
40.8
42.1
41.6
41. 1
40.1
40.9
41.9
42.1
41.8
41.2
40.0
40.0
41.3
41.6
42.7
43.0
40.6
40.3
42.0
42.1
41.5
41.1
40.6
39.5
41.8
41.6
41.8
41.1
'41.2
'39.6
42.5
'41.3
42.4
41.5
'41.2
' 39. 8
' 40. 8
'40.7
'42.2
41.6
41.0
39.5
41.3
40.7
42.4
Fabricated metal products—
— do
Machinery
do
Electrical equipment and supplies _ do
41.4
41.8
40.3
41.7
42.4
40.6
40.9
41.7
40. 0
41.2
42.3
40.2
41.2
42.4
40.2
41.5
42.5
40.3
41.8
42.6
40.3
41.9
42.8
40. 5
41.6
42.3
40. 3
42.0
42.2
40.6
41.8
41.9
40.6
41.6
41.8
40.9
42.0
42.5
41.0
42.5
'43.3
41.6
' 41. 8
'43.0
'40.9
42.0
43.0
40.9
Transportation equipment? -- -- —--do
Average overtime
Durable goods industries.
do
do__ —
Average overtime
do
do
do
. do
42.1
42. 8
41.5
40. 8
39.6
42.0
43.0
41.1
40.8
39.6
41.5
42.2
41.1
39.9
38.4
41.5
42.2
41.0
40.5
39.5
41.4
41.8
40.9
40.4
39.7
42.0
42.9
41.0
40.5
39.6
42.1
43.0
40.9
40.7
39.4
42.6
43.9
41.2
41.1
39.7
41.6
42.4
41.0
40.8
39.3
41.6
42.5
40.9
41. 1
40.0
42.3
43.9
40.9
41.1
39.3
40.9
41.1
41.1
41.1
40.1
42.3
43.1
41.3
41. 4
40.0
' 44. 0
'46.3
'41.5
41.6
40.3
'43.2
45.1
'41.3
' 41. 1
'39.5
43.2
Aircraftand parts
<—
instruments and related products
Miscellaneous mfg Industries
Nondurable goods industries, unadj
do
41.6
41.3
39.9
39.6
39.7
Average overtime
do
Food and kindred products
._do
Tobacco manufactures
- do
Textile mill products
.
— — do— —
Apparel ancl related products. _.
_do— -Paper and allied products. _~
—do
2.7
40. 9
38.6
40.6
36.1
42.7
2.9
40.9
38.8
41.0
35.9
42.8
38.7
39.1
2.5
40.3
36.9
40.0
33,9
42.1
39.4
39.8
2.6
40.2
35.3
40.9
36.3
42.5
39.5
39.7
2.6
40.2
37.8
40.7
36.4
42.4
39.4
39.8
2.7
40.4
39.6
40.7
36.0
42.5
39.7
39.7
2.8
41.0
39.3
41.1
35.9
42.7
39.9
39.6
2.9
41.1
39.7
41.3
36.2
43.0
39.8
39.5
2.9
41.2
38.9
40.8
36.3
43.0
40.1
39.7
3.1
41.2
38.9
41.3
36.7
43.3
39.6
39.4
3.2
41.4
39.3
39.9
35.0
43.1
40.0
39.9
3.1
41.3
40.8
41.6
36.1
43.2
39.9
40.0
3.0
41.1
38.3
41.9
36.3
42.4
40.2
40.0
3.1
41.4
'40.6
42.1
36.2
'43.2
'39.7
' 40. 1
2.8
40.9
'37.5
41.4
' 35. 9
'42.6
39.8
40.2
2.9
40.3
37.4
41.8
36.4
42.8
Printing, publishing, and allied Ind
do
Chemicals and allied products
_ do
Petroleum refining and related ind
_do
Petroleum refining
_ •_ —
do
Rubber and misc. plastic products. _ _ _ _do
Leather and leather products
do
38.3
41.5
41.7
41.4
40.8
37.5
38. 5
41.6
41.8
41.4
41.-3
37.9
37.8
41.1
41.3
41.4
40.5
37.4
38.1
41.3
41.4
41.3
40.6
38.2
38.5
41.6
41.4
41.2
40.8
37.7
38.5
41.6
41.3
40.9
40.9
36.5
38.5
41.8
42.0
41.3
41.4
37.6
38.4
41.7
42.1
41.2
41.6
38.5
38.3
41.5
42.3
41.4
40.8
38.6
38.7
41.3
42. 1
41.3
41.9
38.5
38.7
42.1
43.1
42.5
41.8
37.2
38.7
41.5
41.7
40.9
41.6
37.5
38.4
41.7
41.7
41.5
41.3
37.7
39.0
41.8
' 41.7
41.6
'42.1
39.0
' 38. 2
41.4
'41.4
'41.3
' 41. 8
'38.3
38.4
41.6
40.3
40.2
41.7
39.0
41.5
-do
41.2
do-—-38.8
do
42.1
_do—
37.3
do
36.0
_
do
41.3
do
36.5
— __ do— -
41.7
41.6
« 39. 0
42.0
41.1
41.9
39.4
41.9
41.2
41.7
38.2
42.3
40.9
41.8
36.7
42.4
41.3
41.3
37.6
42.1
41.9
41.7
38.8
42.0
42.2
41.6
40.2
41.9
41.7
40.9
42.4
42.1
41.2
39.7
41.6
41.3
41.8
37.5
41.6
42.4
41.6
40.4
42.2
42.0
4L5
40.1
41.9
' 41. 9
'42.6
'40.6
41. 8
41.4
41.6
39.6
42.1
37.2
35. 9
41.0
36.5
34.1
32.7
36.6
34.1
35.8
35.0
38.9
35.3
36.5
35.9
39.1
36.0
37. 0
36.0
40.4
36.4
37.9
36.5
42.1
37.1
38.2
36.6
42.4
37.3
38.1
36.4
42.7
37.1
38.6
36.9
43.2
37.6
36.6
35.3
39.9
35.9
38.4
36.9
42.8
37.5
36.9
35.6
40.6
36.2
36.8
'35.8
'38.8
36.8
36.3
35.4
39.2
36.0
Nonmanufacturing establishments:!
Mining? _. :
— _.
Metal mining
Coal mining
Crude petroleum and natural gas.
Contract construction
General building contractors
' Heavy construction
Special trade contractors
Transportation and public utilities:
Local and suburban transportation
do
Motor freight transporation and storage-do
Telephone communication
do
Electric, gas, and sanitary services
do
Wholesale and retail trade§
doWholesale trade
do
Retail trade§
do
42.1
41.6
40.0
41.2
38.6
40.6
37.8
42.0
41.7
40.1
41.2
38.4
40.7
37.4
41.9
40.4
39.3
41.5
38.1
40.2
37.1
41.4
41.0
39.6
41.0
38.1
40.3
37.2
40.9
41.1
39.5
41.0
38.1
40.5
37.1
41.9
41.5
39.3
41.0
38.2
40.6
37.2
42.6
41.8
39.8
41.1
38.3
40.7
37.3
43.0
42.1
40.0
41.0
38.7
40.8
37.7
42.7
42.3
40. 2
41.5
39.1
40.9
38.3
42.2
42.3
40. 2
41.0
39.0
40.8
38.2
41.8
42.2
41.8
41.2
38. 3
40.6
37.3
42.0
42.3
40.8
41.6
38.2
40.7
37.2
41. 9
41.6
41.3
41. 2
38.0
40.9
36.9
'41.6
'42.2
39.8
41.4
'38.6
41.1
'37.6
41.2
41.2
39.3
41.4
38.0
40.7
36.9
Services and miscellaneous:
Hotels, tourist courts , and motels
do
Laundries, cleaning and dyeing plantscf -do.
39.0
39.0
38.6
38.7
38.8
38.0
39.1
38.3
39.0
38.6
38.8
38.8
38.6
39.3
38.4
39.0
39.3
38.7
39.4
38.7
38.0
38.5
38.1
39. 1
37.6
38.6
'37.7
38.9
37.7
38.5
Average weekly gross earnings per production
worker on payrolls of nonagric. estab. :f
All manufacturing establishments!dollars- 99.63
Durable goods industries
do— - 108. 50
119.31
Ordnance and accessories
do
81.80
Lumber and wood products—
_do
102. 97
112. 19
121. 60
85.60
100.30
109. 21
121.47
80.29
101. 15
110. 29
119. 29
82.37
101. 46
110. 29
119.39
81.97
102. 47
111. 51
120.09
84.19
102. 97
112.47
119. 90
86.67
103. 48
113.01
121.91
87.72
102. 97
111. 92
119. 70
87.89
103.07
112. 47
121. 10
89. 98
104.60
114. 13
121. 60
88.00
102.97
111. 51
123.83
87.85
104.70 106.81 '105. 93
113. 57 '117.17 '115.79
124. 24 '126.48 '126.48
84.53 ' 83. 95 ' 82. 7£
106. 19
115. 79
125. 46
83.35
81.80
do
do__ ._ 102. 42
124. 64
_do
84.26
105. 83
130. 00
79.59
99.50
125. 77
82. 62
101. 75
126. 18
82.42
102. 25
127. 10
83.03
104. 83
128. 54
81.81
106. 93
129.58
83. 43
107. 36
130.20
83.23
107.36
128. 96
85. 48
107. 78
130.00
85.49
107.33
136. 21
86.94 86.53 88.40 ' 84. 46
108. 62 107. 33 '106.14 '104.19
129. 48^ 130.83 '133. 14 '132.93
85.90
105. 01
133. 98
Fabricated metal products
._
do— 108.05
Machinery
do
116. 20
99. 14
Electrical equipment and supplies.. ...do
111. 76
121. 69
102. 31
108.39
118.43
100.00
109. 18
120.56
100. 90
109. 18
121. 26
100. 90
111. 22
121. 98
101. 15
112.02
122. 69
101. 56
112. 29
123. 26
102. 06
111.07
121. 82
101. 96
112. 98
121. 11
102. 31
112.86
120. 67
102. 72
110. 24
120. 38
103. 48
112. 98 '116.03 '113.70
122. 83 '126.44 '125.56
103. 73 106. 50 '104.70
114. 66
125. 99
104.70
126. 72 130. 20 127.82 126. 99 126. 68
Transportation equipment
—
do
101. 59 103. 63 100. 15 101. 66 101. 81
Instruments and related products
do
Miscellaneous mfg, industries
__do— — 80.39
82.37 80.26 82.56 82.97
' Revised.
* Preliminary.
° Average for 11 months.
1
Includes Post Office employees hired for the Christmas season; theje were about 1558,000
such employees in the United States in Dec. 1964.
2
Based on unadjusted data.
129. 36
102. 06
82.76
Furniture and
fixtures
_
Stone, clay, and glass products—.
Primary metal industries.
—.
129. 67 132. 06 128. 54 129.38 133.67 125. 15 132.82 '140.80 '137.81 137. 81
102. 56 103. 98 103. 63 103. 98 104. 81 105. 22 106. 40 107. 74 '106.45 106.97
85.44 ' 84. 14 84.99
81.35
82.80
83.41 83.20
81.95
82. 58
81. 74
9Incl ades dat a for ind ustries n ot shown
f See correspondin g note, bottom 3. S-13.
set>arately.
§Exc ept eatin g and drinking p aces,
cfBeginn ing Jan. 1964, dal a relate to nonsu pervisor y worker s and are not coinparable
wi th the productio]ii-worker levels f :>r earlier periods
SUEVEY OF CURRENT BUSINESS
March 1965
Unless otherwise stated, statistics through 1962
and descriptive notes are shown in the 1963
edition of BUSINESS STATISTICS
!
1963
1964
Monthly
average
S-15
1964
Jan.
Feb.
Mar.
Apr.
May
June
1965
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.?
EMPLOYMENT AND POPULATION—Continued
HOURS AND EARNINGS— Continued
Average weekly gross earnings per production
worker on payrolls of nonagric. estab.f— Ccp,
All manufacturing establishments f— Continue id
Nondurable goods industries
dolls irs__
Food and kindred products
dc
Tobacco manufactures
dc
Textil e mill products
dc
Apparel and related products
dc
87.91
94.48
74.11
69.43
62.45
90.91
97.75
76.44
72. 98
64.26
88.24
95.91
72.69
70.40
60.34
89.44
95. 68
69.19
71.98
64.61
89.67
96.08
75.60
71.63
64.79
89.83
96.56
80.78
71.63
64.08
90. 91
98.40
80.17
72.75
63.54
91.37
98.23
81.78
73.10
64.07
91.14
98.06
80. 13
72.22
64.25
91.83
97.23
75.47
73. 10
66. 06
91.87
98.53
73. 10
71.82
63.00
92.00
97. 88
73.85
75.71
64.98
- dc
dc
dc
dc
dc
dci
105. 90
110. 69
112. 88
131. 77
100. 78
66.00
109. 57
114. 35
116. 48
133. 76
104. 90
68.98
106. 09
110. 75
113. 85
132. 16
101. 25
66.95
107. 10
112.01
113. 99
131. 65
101. 09
68.76
106. 85
113. 58
114. 40
131. 24
101. 59
68.24
107. 53
113. 96
114.40
130. 92
102. 25
66.43
108. 46
114. 35
116. 20
133. 14
104. 74
68 43
109. 65
113. 66
116. 34
133. 46
105. 25
70 46
110. 51
113.37
116. 20
134. 09
103.22
70 25
111.71
114. 55
116. 47
133 88
107 26
70 46
112. 06
116. 10
120.41
140. 51
108. 26
68 45
111. 89
116. 10
117. 45
133.86
106. 50
69 00
109. 82 *. 112.32 r 111 19 111 71
114. 82 117. 39 ' 114.60 115. 58
118.01 r 118. 71 * 117.58 118. 14
134. 69 135.53 r 134 14 129 36
105. 73 f 109.04 rr 108 26 107 17
69.37
71 76 71 24
72 54
do
do
do
do
114. 54
118. 66
119. 98
112.41
118. 01
122. 72
126. 88
113. 40
115. 49
121. 93
125. 29
112. 71
115. 36
121. 35
121.09
113. 36
113. 70
121. 64
115. 97
112.78
115. 64
121.01
121. 82
111. 57
117 74
122. 60
126. 49
112. 14
118 58
122 72
131. 86
110. 62
117 18
121 06
121 32
113. 63
119
121
131
112
56
95
01
32
118 53
125. 40
124. 50
113. 57
122. 11
124. 38
133. 72
116. 05
121 38 r 121 09
124. 50 ' 127 80
134. 34 r 135.20
115. 64 ' 114.53
120 89
124 38
136 22
116.20
do
do
!_do
do
127. 19
117. 36
128. 03
133. 59
132. 06
122. 06
132. 02
138. 34
121. 74
110. 85
118. 22
129. 24
126. 37
117. 60
122. 54
133. 08
128. 12
120. 27
121. 60
135. 00
130. 24
122. 04
127. 66
137. 23
132. 65
122. 64
133 46
138. 75
133. 32
122. 61
134 83
139 50
134
122
137
140
49
67
92
61
136
125
140
142
64
46
83
13
131. 03 138. 62
121. 79 127. 67
130 87 142 52
137 14 144. 38
131. 36
122. 11
129. 92
138. 28
131
121
125
139
Transportation and public utilities:
Local and suburban transportation. do
Motor freight transportation and storage-do
Telephone communication
do
Electric, gas, and sanitary services
do
101. 88
117.31
102. 40
121. 54
104. 58
122. 18
105. 06
125. 66
103. 49
115. 95
102. 18
124. 50
101. 43
118. 49
102 56
123. 41
98.98
119.19
102. 70
123. 41
103. 49
120. 77
101. 79
123. 41
105.65
122. 47
104 28
124 12
106. 64
122.93
104 40
123 82
106. 75
123.09
104 52
125 75
105.
124.
104
125
50
79
52
05
104. 92
124.07
109 10
126 90
105. 42
124. 36
108 12
128 96
105. 59 ••104.83
122. 72 '125.76
109 86 107 06
128 54 129 58
104. 24
121. 54
104 93
129 58
77.59
99. 47
68. 04
79.87
102. 56
69.94
78.11
99 70
68 26
78 49
100 75
68 82
78.49
101 25
68 64
79.07
101 91
69 19
79 66
102 97
69 75
80 50
102 82
70 50
81 33
103 07
71 62
81 12
102 82
71 43
80 43
103 12
70 50
80 22
103 38
70 31
79 80 r 79 90
104 70 r 104 81
69 74 r 70 31
80 56
104 19
70 85
74.97
96 21
76.67
92 12
76 70
91 29
77 46
92 06
76 47
91 49
76 30
91 55
76 26
91 97
75 89
91 92
76 88
91 94
Q9 1 ^
76 50
76 43
92 15
77 21
92 60
77 58 r 77 58
93 23 r 93 04
04. 94.
47.58
51.87
48.64
55.73
48 11
53. 58
48 09
54.00
48 36
54.81
48 89
55. 48
49 02
56.59
48 00
56.16
48 34
55.73
47 67
55.73
48 26
56.21
49 53
57^48
49 26 r 50 14
56.36
57. 18
49 39
56.60
Average hourly gross earnings per production
worker on payrolls of nonagric. estab.:f
All manufacturing establishments!
dollars-Excluding overtimed
d>
Durable goods industries
__ d > _ _
Excluding overtimed*
d)
2.46
2 37
2 64
2.54
2.53
2 44
2 71
2.61
2.52
2 43
2 69
2.60
2.51
2 43
2 69
2.60
2,51
2 43
2 69
2. 60
2.53
2 44
2 70
2.61
2.53
2.53
2
2
2.53
2 44
2 71
2.61
2.52
2
9 4°.
9 71
2. 57
2 46
2 75
2.63
2.53
2 43
2 70
2.59
2 4.Q
r 9 77
2.62
2.58
f 2 48
f 2 77
2.64
Ordnance and accessories
do
Lumber and wood products —
_d:> —
Furniture a n d f i x t u r e s _ _ _ _ _ _
do
Stone, clay, and glass products
ds
Primary metal industries
do
Blast furnaces, steel and rolling mills.d^ —
2.91
2.04
2 00
2 48
3.04
3.36
3.01
2.14
2 05
2 55
3.11
3.41
2.97
2.08
2 02
2 50
3.06
3.35
2.96
2.08
2 03
2 50
3.07
3.37
2.97
2.07
2 03
2 so
3.07
3.37
2.98
2.11
2 04
2 52
3.09
3.39
3.00
2.17
204.
3.02
2.20
3.04
2.20
2 07
2 58
3.19
3.52
3.05
2.18
2 07
2 58
3.12
3.43
3.06
2.14
' 3. 07
2.12
CO
no
9 ^7
3.13
3.42
••3.14
••3.43
Fabricated metal products
___.d3
Machinery
_..
do
Electrical equipment and supplies .
do
Transportation equipment?
do
Motor vehicles and equipment
d:)
Aircraft and parts
d3
Instruments and related products.do _.
Miscellaneous mfg industries
do
2.61
2 78
2 46
3.01
3.10
2 95
2 49
2 03
2.68
2 87
2 52
3.10
3 21
3 05
2 54
2 08
2.65
2 84
2 50
3.08
3-18
3 00
2 51
2 09
2.65
2 85
2 51
3.06
3 15
3 01
2 51
2 09
2. 65
2 86
2 51
3.06
3.14
3 01
2 52
2 09
2.68
2 87
2 51
3.08
3 17
3 02
2 52
2 09
2.70
2 88
2.53
3.16
3 28
3 07
2 55
2 07
2.65
2 88
2 53
3.06
3 12
3 09
2 56
2 08
2.69
2 89
2 53
3.14
3 23
3 09
2 57
2 08
••2.73
2 92
2 56
3.20
3 32
r 3 11
2 59
2 12
2 22
2 15
2.31
1 92
1 71
1 73
2 48
2 29
2 21
2. 39
1 97
1 78
1 79
2 56
2 28
2 21
2.38
1 97
• 1 76
1 78
2 52
2 27
2 20
2.38
1 96
1 76
1 78
2 52
2 27
2 20
2.39
2 00
1 76
1 78
2 52
2 28
2 21
2. 39
2 04
1 76
1 78
2 53
2 32
2 23
2. 38
1 86
1 80
1 80
2 60
2 30
2 29
2.37
1 81
1 82
2 31
2 32
2 24
'2.42
2 03
1
2
KQ
9 *iQ
' 2 60
r 2 05
1 8°,
1 81
r 9 61
2.89
2.72
3.16
3 32
2.47
1.76
2 97
2. 80
3.20
3 37
2.54
1.82
2 93
2.77
3.20
3 35
2.50
1.79
2 94
2.76
3.18
3 34
2.49
1. 80
2.95
2.75
3.17
3 33
2.49
1.81
2 96
2 75
3.17
3 33
2.50
1.82
3 00
2 83
3.21
3 38
2.56
1.84
2 99
2 83
3.23
3 41
2.56
1.84
3 01
2 84
3.25
3 41
'2.59
1.84
3 00
'2 84
'3.24
'3 40
' 2.' 59
' 1. 86
2.76
2.88
2.67
3.41
3.26
3.10
3.66
2.83
2.95
« 3.26
2.70
3.55
3.40
3.22
3.79
2.81
2.91
3.18
2.69
3.57
3.39
3.23
3.79
2.80
2.91
3.17
2.68
3.53
3.36
3. 15
3.77
2.78
2.91
3.16
2.66
3.51
3.35
3.11
3.75
2 89
300
3 33
'2 74
3 62
'3 46
r
3.25
3 87
2 92
2 99
3 44
2 76
3 62
3 43
3. 19
3 88
2.42
2.82
2. 56
2.95
2.49
2.93
2.62
3.05
2. 47
2.87
2.60
3.00
2.45
2.89
2 59
3.01
Paper and allied products
Printing, publishing, and allied ind
Chemicals and allied products..Petroleum refining and related ind
Rubber and misc. plastic products
Leather and leather products
Nonmanufacturlng establishments::!
Mining 9
Metal mining
Coal mining
Crude petroleum and natural gas
Contract construction,
General bull ding contractors..
Heavy construction __
Special trade contractors
.
Wholesale and retail trade§
Wholesale trade _ _
Retail trade§ .__
-
___do____
do____
do___.
Finance, insurance, and real estate:
Banking
do
Insurance carriers©
do
Services and miscellaneous:
Hotels, tourist courts, and motels
do
Laundries, cleaning and dyeing plan tsAdo
Nondurable goods industries
Excluding overtime cf
Food and kindred products..
Tobacco manufactures..
Textile mill products _ _ __.
Apparel and related products
Paper and allied products
d o__ _ .
do
do
___do___.
c^o
do
cjo_ _.
9 4.4.
71
2.61
4.4
71
2.61
2.99
2.14
3.01
2.15
3.10
3.40
3.10
3 39
3.10
3.38
2.68
2.68
2.67
2 88
2 53
3.09
3 19
3 05
2 54
2 08
9 fi9
9 5A
9 88
2 52
3.08
3 19
3 m
9 co
2
9 88
9 ^2
3.10
q 01
3
9
f>q
VI
n no
2
2.39
1.77
2
Q7
9 78
9 Qfi
9 7Q
3.17
3.17
2.53
1.82
2 80
2 93
3.24
2.65
3 52
3.39
3.16
3 77
2.42
2.90
2. 60
3.01
2.05
2.06
2.06
Wholesale and retail trade§
(Ho
2.01
2.08
2.48
2.50
2.45
2.50
2.52
Wholesale trade
- d'o
1 84
Retail tradef -<Ho
1 80
1 85
1 85
1 87
Services and miscellaneous:
1.24
Hotels, tourist courts, and motels
_clo
1.22
1.24
1.26
1.23
1.41
Laundries, cleaning and dyeing plants Ad lo_—
1.42
1. 44
1.41
1.33
Revised. * Preliminary. « Average for li months. § Except eating and drinking places.
tSee corresponding note, bottom p. S-13. 9 Includes data for industries not shown separately.
©Effective Jan. 1964, data exclude earnings of nonoffice salesmen and are not comparable
nHfVi earlier figures.
.
'
with OQfMor -fimifaa
do _
do
<3 o
co
co
co
Nonmanufacturing establishments:!
Mining $
cj o
Metal mining
c|o
Coalmining
__do __
Crude petroleum and natural gas
__( o
Contract construction __
co
General building contractors
co
Heavy construction
__.__clo
Special trade contractors
do
Transportation and public utilities:
Local and suburban transportation
Motor freight transportation and storage
Telephone communication _
Electric, gas and sanitary services
co
c !o.
<Sio
co
« 3. 12
3.11
3.40
2.69
9 87
2 52
3.11
3 24
Q
()(*
f)
CO
91
2. 38
2 06
1
1.77
2.54
Printing, publishing, and allied ind
Chemicals and allied products
Petroleum refining and related ind
Petroleum refining
Rubber and misc. plastic products
Leather and leather products..
CC
2 29
9 9Q
2.40
2.60
77
2
K7
2.36
1.80
0ft
92.17
93.26 ' 92. 50
98.64 ' 100.19 99.80
74. 30 ' 82. 42 ' 76. 88
76.68 77.04 r 75.76
65. 70
65.16
64. 98
2.56
2
2
4.fi
70
9 07
2
9 9Q
2. 40
1 94
I oq
1 Q1
r
f
T
133. 22
123 87
126 10
142 42
2
I
00
I
on
92
98
76
76
66
73
33
67
91
25
41
42
05
68
78 54
'2.59
2.59
2.65
2 77
2.66
'3.07
'2.08
3.06
2. 11
r 9 ft7
r 9
f\fi
9 fifi
9 KB
'3.15
3.44
3.16
2.72
2.73
2 93
2 56
3.19
r 2 92
2 56
3.19
3 31
3 11
r 2 59
2 13
3 11
2 59
2 13
2 33
s
2 33
2. 44
2.44
2 05
1 84.
1 89
9 9.
2 96
2 80
3.17
oe
3.18
2.53
1.83
2.53
1.82
2.56
1.83
3 00
2 86
3.26
3 45
2.59
1.84
2 81
2 94
3 26
2 67
3 50
3 36
3. 17
3 74
2 81
2 95
3 28
2 64
3 49
3 35
3. 18
3 74
2 81
2 96
2 68
3 53
3 37
3. 23
3 79
2 g4
2 96
3 30
2 70
3 54
3 40
3.26
3 78
2 87
3 00
3.32
2.73
3 58
3.45
3.28
3.82
2 88
2 99
3 31
2 75
3 61
3 46
3 85
2 89
3 00
3 35
2 76
3 56
3 43
3.20
3 82
2.47
2.91
2.59
3.01
2. 48
2.93
2.62
3.02
2.48
2.92
2.61
3.02
2.50
2.91
2.60
3.03
2.50
2.95
2.60
3.05
2.51
2.94
2.61
3.08
2 51
2.94
2 65
3 10
2.52
2.95
2 66
3.12
••2.52
r
2. 98
2 69
3.13
2 08
2 53
1 87
2 08
2.52
1 87
2.08
2.52
1 87
2.08
2.52
1 87
2 10
2 54
1 89
2 10
2 54
1 89
2 10
2 56
1 89
2 07
2 55
1 87
9 fi1
2.53
2.95
2.67
3. 13
2 07
2 51
1 86
9 9^
2 12
2 56
1 92
3
9 OR
9 89
0 00
3 01
2 84
3.21
3 36
2.57
1.86
1.21
1.26
1.23
1. 25
1. 27
1.27
1.31
1. 33
1 30
1.31
1.43
1.44
1. 44
1.44
1.44
1.46
1.47
1.47
1.46
1.47
cfDerived by assuming that overtime hours are paid at the rate of time and one-half. AEffective Jan. 1964, data relate to nonsupervisory workers and are not comparable with the
production-worker levels for earlier periods.
SURVEY OF CURRENT BUSINESS
S-16
Unless otherwise stated, statistics through 1962
and descriptive notes are shown in the 1963
edition of BUSINESS STATISTICS
1963
| 1964
Monthly
average
March 1905
1964
Jan.
Feb.
Mar.
Apr.
May
June
1965
July
Aug.
Sept.
Oct.
Nov.
Dec.
3.305
4.815
3.307
4.823
134
Jan.
Feb.
3,307
'4.829
.1.19
3.339
'4.851
137
137
145
EMPLOYMENT AND POPULATION—Continued
HOURS AND EARNINGS-Contimied
Miscellaneous wages:
Construction wages, 20 cities (ENR): §
3. 242
3.154
3.082
3.169
3 169
3.187
Common labor
$ per hr
4.733 4.636
4.658
'4.526 1
4.640 4.644
Skilled labor
do
1
1.14
1. 05
1.14
1.08
Farm without board or rm., 1st of mo
do
2.765
2.764
2. 765
2 823
2 803
Railroad wages (average class I)
do
2.27
2.37
*2 38
Road-building com labor (qtrly ) do
LABOR CONDITIONS
116
117
"123
109
120
118
Help-wanted advertising, seas, adj t_ .1957-59 =100. _
Labor turnover in manufacturing estab.: t
P4 o
34
38
39
36
37
3.9
3.8
4.0
4.0
Seasonally adjusted
do
*2. 6
2.4
2.4
2.0
2.0
2.2
New hires
do
P3.9
4.0
3.5
3.5
3.9
3.3
Separation rate total
do
3.9
3.9
3.8
3.9
Seasonally adjusted
do
1.2
1.4
»1.5
1.1
1.2
1.3
Quit
do
1.4
2.0
1.6
1.8
»1. 7
1.6
Layoff
do
1.7
1.7
1.8
1.8
Seasonally adjusted
do
Industrial disputes (strikes and lockouts) :
Beginning in month:
P300
300
220
280
225
210
Work stoppages
number
on
P 133
fin
122
65
78
In effect during month:
450
360
375
370
"Work stoppages
number
100
163
125
100
"Workers involved
thous
800
1,100
1 340 v 1,900
1 010 1,130
IVIan davs idle during month
do
EMPLOYMENT SERVICE AND UNEMPLOYMENT INSURANCE
414
478
541
523
443
548
Nonfarm placements
thous
Unemployment insurance programs:
2 i 939 2 i 725 2 2 559 2 2 4Q8 2 2 200 a i 886
State programs:
1,162
1,136
1,086
1,285
1, 181
1,848
Initial claims
do
•I Q(\fi
*J 050
1 605 9 3Q5 2 243
1 755
Percent of covered employment:^
4.2
5.3
4.9
3.8
4.3
57
Unadlusted
4.2
3.8
3.9
3.8
Seasonally adjusted®
1 887 1 678
1 541 1,373
Beneficiaries weekly average
thous
1 997 2 015
210.2
292.6 258.0
231.2
Benefits paid
mil. $
319 3 283 8
Federal employees, insured unemployment
40
32
thous
30
38
31
39
Veterans' program (UCX):
28
29
29
27
Initial claims
do
28
39
67
51
Insured unemployment weekly avg do
72
57
55
73
59
52
Beneficiaries, weekly average
do
48
64
67
71
7.5
8.9
Benefits paid..
_ __ _ .mil. $
9.7
7.6
10.2
9.6
Railroad program:
7
5
2>13
Applications
thous
13
13
13
P 38
45
Insured unemployment weekly avg do
42
47
51
53
*>6 5
83
88
7 4
Benefits paid
mil $
85
99
3.202
4.680
3. 233
4. 728
2 785
118
3.295
4.787
3.295
4. 807
2 774
3.282
4.769
1.13
2 775
2 811
2.818
3. 300
4.812
1.01
2. 808
121
124
123
126
127
r
39
3.8
2.6
3.6
3.9
1.5
1.4
1.7
51
4.1
3.6
3.5
3.9
1.4
1.3
1.6
44
4.0
2.9
4.4
4.2
1.5
2.1
2.0
51
4.0
3.4
4.3
3.8
2.1
1.4
1.4
4 8
3.8
3.5
5.1
4.1
2.7
1.5
1.5
40
4.0
2.8
4.2
3.9
1.7
1.8
1.7
3.2
4.1
2.2
3.6
3.6
1.2
1.7
1.5
2. 6
'4.1
1.6
7-3.7
r
3. 8
1.0
'2.1
'1.6
*3 7
"3.9
*2.3
*3.6
*3.5
pl.3
*1.6
410
176
360
134
420
133
340
83
275
342
340
199
275
137
130
30
260
107
570
218
2, 180
585
227
1,930
660
194
1 710
595
147
1,350
515
409
2,320
580
524
6,540
510
228
1,750
340
88
1,060
639
579
572
2
572
554
549
1 552 2 i 390 2 1 445 2 1 358
508
2 1 792
390
188
1,790
418
433
2 i 218 2 1 232 2 1 397
pl.4.
2
2, 132
908
1 447
976
1 297
1, 238
1 343
937
1 261
858
1 125
966
1 138
1,185
1 293
1,618
1 675
1,453
1,996
3.4
3.7
1 347
201.5
3.1
3.7
1,142
183.1
3.1
3.6
1 108
180. 5
2.9
3.5
1,085
164.5
2.5
3.4
943
148. 4
2.6
3.4
908
143.2
3.0
3.4
969
147. 0
3.9
3.6
1,283
211.4
4.6
3.4
1,667
252. 1
27
25
26
25
24
25
27
30
34
20
46
48
7.0
25
42
42
6.6
32
44
38
6.2
26
43
41
6.3
25
36
36
5.9
25
35
31
5.0
27
40
34
5.4
32
48
41
6.9
30
55
52
8.0
5
32
52
16
27
4 9
38
31
49
12
29
52
12
32
53
11
33
5.6
11
37
56
12
39
7.3
47
3,049
8 326
1,973
6 353
3,149
8 036
1 948
6 088
3,137
8 879
2,006
6 873
3, 127
8 879
2 070
6 809
3,175
8 444
2 220
6 224
3,222
9 343
2,431
6 912
3, 217
9,146
2,438
6,708
3,385
8,361
2,223
6,138
3,276
8, 928
2,143
6, 785
FINANCE
BANKING
Open market paper outstanding, end of mo.:
Bankers' acceptances_ _ _ _ _ _ mil. $
Commercial and finance co paper total
do
Placed through dealers
do
Placed directly (finance paper)
do
3 2, 890 3 3, 385
3 6 747 3 g 351
3
1 928 3 2 223
3 4 819 3 g 138
Agricultural loans and discounts outstanding of
agencies supervised by the Farm Credit Adm.:
Total, end of mo
__ mil. $_ 8 6, 403
Farm mortgage loans:
Federal land banks
do
33 310
Loans to cooperatives -.
--do
8840
32,253
Other loans and discounts——
do
3
3 056
8 119
2 079
6 040
3 102
7 737
2 038
5 699
3,102
7 920
2 039
5 881
7, 104
6, 460
6,542
6, 627
6,727
6,813
6,940
7,048
7,081
7,084
7,092
7,057
7, 104
7, 223
7,356
3, 718
3
958
3
2, 428
3 333
866
2,261
3 364
849
2,330
3 406
815
2,405
3, 445
786
2,496
3,481
747
2,585
3 516
757
2,667
3,551
782
2,715
3 586
787
2,707
3, 620
809
2,656
3,652
924
2,516
3,680
975
2, 402
3,718
958
2,428
3,765
1,020
2,438
3,818
1,037
2,501
541 g
853 6
688 0
030 0
658 0
4 535 1 4
1 928 0 2
2 607 1 2
992 5 1
1 614 6 1
833 5
087 0
746 5
058 9
687 6
3
Bank debits to demand deposit accounts, except
interbank and U.S. Government accounts,
annual rates, seasonally adjusted: A
Total (225 centers)
bil $
New York City
_
do
Total 224 centers (except N.Y.C.)
do
6 other leading centers!
do
218 other centers
do
Federal Reserve banks, condition, end of mo. :
Assets, total 9 - _ - _ . _ _ _
mil. $
2,938
7 765
2' 042
5 723
4 486 3 4 358 9 4 419 4 4 '602 7 4
1 915 0 1 768 9 1 822 2 1 909 2 1
2 571 3 2 590 0 2 597.0 2,693 5 2
999 5 1 038 4 1
989 6
986 3
1 581 7 1 603 7 1 597 5 1 655 11
3
4 579 7 4 762 9 4 698 2 4 647 9 4 816 3 4 654 0
1 898 2 2 007 6 1 926 7 1 917 7 2,013 0 1 942.2
2 681 5 2 755 12 771 5 2, 730 0 2,803 3 2,711.8
1 021 3 1 049 5 1 060 6 1 023 7 1 065 4 1 023 5
1 660 2 1 705 6 1 710 9 1 706 3 1 737 9 1 688 3
62, 867
56,389
56, 928
56,629
57, 101
57 158
57 742
57, 882
57 964
59,421
59,643
61,561
62,867
60, 729
60, 769
Reserve bank credit outstanding, total 9 _do..._ 8 36,418 339, 930
3
Discounts and advances
do
363
186
8 33,593 3
337,044
U.S. Government securities
do
Gold certificate reserves
do
3 15,237 15,075
34,643
364
32,752
15, 231
35, 274
570
33,169
15, 185
35,314
130
33,770
15, 190
35,115
116
33,169
15, 195
36, 066
226
34, 229
15,176
36,589
79
34, 794
15, 185
36, 797
239
35,051
15, 188
36, 941
185
35,164
15, 192
37, 111
95
35,350
15,190
37, 900
415
35, 709
15, 185
39,302
210
36, 774
15,091
39,930
186
37, 044
15, 075
38, 737
304
36, 741
14,906
39, 422
300
36,907
14, 661
3
56, 389
56 928
56 629
57, 101
57 158
57 742
57 882
57 964
59 421
59 643
61 561
62 867
60 729
60, 769
3
19
3
18 120
16, 983
31, 988
18 532
17, 146
31,899
18 258
17, 060
32, 088
17 913
16, 629
32, 177
18 232
16, 890
32,411
18 250
16, 973
32, 835
18 445
17, 327
33,109
18 365
17, 055
33, 330
18 396
17, 121
33, 590
18 884
17, 883
33, 852
19 523
18,084
34, 640
19 456
18, 086
35,343
19 091
17,801
34, 646
19,255
17,903
34,562
Liabilities, total 9
Deposits, total 9
_.
Member-bank reserve balances.Federal Reserve notes in circulation
do
8 58,028
8 58,028
62, 867
do
3 18,391
456
do
3 17,049 18, 086
_do.__. 332,877 335, 343
Ratio of gold certificate reserves to deposit and
3
FR note liabilities combined
percent.. 829.7
27.5
30.2
30.4
30.1
• ' Revised.
* Preliminary.
i Quarterly average.
2 Excludes persons under extended
duration provisions (thous.); 1964—Jan. 3; Feb. 2; Mar., 1; Apr., 32; May, 54; June, 58; July,
3
46; Aug., 38; Sept., 38; Oct., 32; Nov., 20; Dec., 9; 1965-Jan., 4.
End of year.
§ Wages as of Mar. 1,1965: Common labor, $3.339; skilled labor, $4.852.
? Revised back to 1951 to incorporate adjustments as follows: Enlargement of sample;
updated seasonal factors; new weights for component indexes based on labor force in cities
covered; and shift of index base to 1957-59=100. Monthly data (1948-62) appear on p 24 of
27. 2
30.3
30.0
29. 4
29.2
28.8
27. 5
29.5
27.9
27.7
29.7
the Mar. 1964 SURVEY, f See corresponding note, bottom p. S-13.
cflnsured unemployment as % of average covered employment in a 12-month period.
©Revisions back to 1959 are available.
A Re vised series; data prior to 1964 not available.
^Includes Boston, Philadelphia, Chicago, Detroit, San Francisco, and Los Angeles.
9 Includes data not shown separately.
SURVEY OF CURRENT BUSINESS
March 1965
Unless otherwise stated, statistics through 1)62
and descriptive notes are shown in the l')63
edition of BUSINESS STATISTICS
1963
| 1964
End of year
S-17
1965
1964
Jan.
Feb.
Mar.
May
Apr.
June
July
Sept.
Oct.
Nov.
Dec.
20,564 20,927 21, 032
20,151 20, 506 20, 620
421
412
413
334
331
309
79
90
103
21, 160
20, 764
396
430
-34
21,614 '21,619
21,203 21,217
411
'402
243
299
168
'108
Aug.
Jan.
Feb.
FINANCE—Continued
BANKING— Continued
All member banks of Federal Reserve Systom,
averages of dailyfigures:
120,746
120,210
i 536
Excess
;_d(i
Borrowings from Federal Reserve banks. . -do.-.. 1327
1209
Weekly reporting member banks of Fed. Res. System,
condition, Wed. nearest end of yr. or mo.:
Deposits:
,, *
Demand, adjusted d*
_.nm$._ 67,844
104,335
74, 513
Individuals, partnerships, and corp
d<f
5,338
States and political subdivisions
do
4,556
Domestic commercial banks
_____d<>-_- 13,320
59, 227
Time total?
- —
doIndividuals, partnerships, and corp.:
38, 083
Savings
•
do
13,310
92,901
F/oans (adjusted) to talc?
do
38,793
Commercial and Industrial
-_
do
6,621
For purchasing or carrying securities
do
To nonbank financial Institutions
___do__-_ 8,595
17, 880
Real estate loans
do- 23,809
48,404
29, 018
U.S. Government obligations, total
do
23, 127
19,386
Other securities
.
do
Commercial bank credit (last Wed. of mo., except
for June 30 and Dec. 31 call dates) , seas.adjusifed:t
Total loans and in vestments O.._.
__bll. $__ 246.5
LoansO
- do__-_ 149.4
62.1
U S Government securities
do
35.0
Other securities.
.
d:o
Money and interestrates: §
Bank rates on short-term business loans:
In 19 cities
percent- 25.01
New York City.....
~
c.o.... 24.79
2
7 other northern and eastern cities
co
5 01
11 southern and western cities
...c;o.--_ 2 5. 30
i 21,614
121,203
1411
1243
1168
20, 675
20,248
427
256
171
20,148
19, 753
395
304
91
20,213
19,856
357
259
98
20, 273 20,219
19, 898 19,886
375
333
213
255
162
78
20, 558 20, 663
20,170 20, 266
388
397
270
265
118
132
68,045
102, 574
73,654
5,239
4,563
12, 539
66, 881
64,940
90,224
67,605
4,926
1,545
10, 739
60,276
62, 565
90, 575
65, 460
5,188
3, 755
10, 810
60,930
62,532
95,811
66,659
5,349
5,130
12,192
61,446
63,959 61,472
91,232 91,474
66,813 64,312
5,529
5,300
2,948
4,997
10,464 11,218
62,223 63,100
62,664
98, 717
67,206
5,405
7,286
11, 784
63,112
63,674
90, 754
66, 397
4,897
3,604
10,441
63,921
62,689
93,372
66,168
5,071
4, 511
12,028
64,440
63,722
99, 479
68,867
5,224
6,951
12,318
64, 719
64,999
94, 544
68, 627
5,035
3,389
11, 699
65, 478
64, 607
97, 707
69, 515
5,333
4, 364
12,548
65,670
40, 698
16 407
102, 227
42, 119
6,677
9,032
20, 008
29, 156
48,783
27, 679
21, 979
21, 104
38,131 38, 291 38, 704 38,437 38, 726
14,057 14,390 14,418 14,950 15,468
89, 122 89, 875 92,002 92,208 93,658
37, 195 37, 590 38,308 38,057 38,243
5,929
5,695 6,033 5,952
6,598
7,339 7,511 8,179 7,881 8,013
17,991 18, 161 18,366 18,520 18,706
24,606 24, 664 25,939 26,029 26, 010
46, 746 46,972 46,371 46,472 46,133
27, 759 27, 591 26,870 26,713 26,567
22,362 23,260 22,680 22, 752 22,588
18,987 19,381 19,501 19, 759 19, 566
39,053
15,360
96, 022
38, 785
6,903
8,887
18,936
26, 975
46,698
26,621
22,420
20, 077
39, 168
15,943
94, 568
38,498
6,384
8,064
19, 120
27,125
45, 764
25,701
22, 104
20,063
39,477
16, 000
96,015
39, 091
6,505
8,340
19,320
27, 124
46,931
26,392
22, 184
20,539
39, 873
15,854
97, 784
39,953
6, 796
8, 558
19, 533
26,982
48,094
27, 207
21, 955
20,887
40, 061
16,464
96, 545
39,882
5, 863
8,030
19,719
27, 267
47,818
26, 928
21,655
20, 890
40,312 40,698 ' 41,341 41, 744
16,237 16,407 ' 17,962 18,359
98,992 102, 227 rim flfiS 102,301
40, 999 42, 119 '42,239 43,343
5, 865
6, 677
6,368
6,137
8, 431 9,032 ' 8, 331 8,404
19, 909 20,008 r oft 078 20, 188
28, 355 29,156 ' 28,521 28, 874
48,005 48, 783 '48,150 47,931
27, 256 27,679 ' 26,520 25, 963
22, 103 21,979 '21,510 21,354
20,749 21,104 ' 21,630 21,968
256. 3
160.0
60.0
36.3
254.5
159. 7
58.4
36.4
258.7
161.5
60.2
37.0
261.7
163.0
61.2
37.5
260. 8
163.1
59.9
37.8
266.0
166.7
60.9
38.4
246.7
151.0
60.8
34.9
248.4
151.8
61.2
35.4
2 4. 99
24.75
25.02
2 5. 30
Discount rate, end of year or month (N.Y.F.R.
4.00
3.50
Bank)
percent-.
34.26 34.70
Federal Intermediate credit bank loans.
do
Federal land bank loans
- - -do .35.50 35.50
Home mortgage rates (conventional 1st riortgages):*
New home purchase (U.S. avg.) ._._„ .percent- _ 8 5. 84 35.78
Existing home purchase (U S avg.)
do
35.98 35.93
Open market rates, New York City:
Bankers' acceptances (prime 90 days)
do
3 3. 36 33.77
Commercial paper (prime, 4-6 months) _ _ < i o _ _ - _ 33.55 33.97
Finance Co. paper placed directly, 3-6mo..<lo_.,_ 33.40 34.37
Stock Exchange call loans, going rate.
do
34.50 34.50
Yield on U.S. Government securities (taxable):
3-month bills (rate on new issue). — per sent.. 33. 157 33,549
33.72 34.06
Savings deposits, balance to credit of depositors:
N.Y. State savings banks, end of yr. or mo-.n ill. $.. 25, 693 28, 260
390
452
U S. postal savings f
.
3o
251.4
153.9
62.1
35.4
251.8
155. 4
60.8
35.6
253.5
157.3
60.3
35.9
4.99
4.77
5 02
5. 29
264.9
165.2
61.3
38. 4
4.98
4.72
5.01
5. 31
S
4.99
4.74
5 fVJ
5.29
' 68,045
'102,574
' 73,654
5,239
4,563
' 12,539
66,881
266.0
166.7
60.9
38.4
21.226
20, 786
440
405
35
' 64,998 63, 507
' 96,066 96, 238
' 68,520 68, 127
'5,397
5,423
'3,644
4,036
' 11,948 12, 327
' 69,242 70,341
268. 7
169.9
59.5
39.3
271.1
171.6
59.6
39.9
5.00
4.77
5.03
5.31
3.50
4.54
5.50
3.50
4.62
6.50
3.50
4.63
5.50
3.50
4.70
5. 50
3.50
4.73
5.50
3.50
4.74
5.50
3.50
4.74
5.50
3.50
4.74
5.50
3.50
4.75
5. 50
3.50
4.74
5.50
4.00
4. 76
5.50
4.00
4.74
5.50
4.00
4.78
5.45
4.00
4.84
5.43
5.83
5. 98
5.81
5.95
5.79
5.94
5.79
5.92
5.77
5.92
5.76
5.89
6.76
5.93
5.77
5.90
5.77
5.93
5. 75
5.91
5.75
5.94
5.76
5. 92
5.79
5.95
5.79
5.93
3.70
3.97
3.82
4.50
3.75
3.88
3.76
4.50
3.75
4.00
3.83
4.50
3.80
3.91
3.80
4.50
3.75
3.89
3.76
4.50
3.75
4.00
3.88
4.50
3.75
3.96
3.81
4.50
3.75
3.88
3.76
4.50
3.75
3.89
3.75
4.50
3. 75
4.00
3.91
4.50
3.79
4.02
3.89
4.50
4.00
4.17
3.98
4.50
4.00
4.25
4.05
4. 50
4.10
4.27
4.12
4.50
3.529
4.06
3.532
4.02
3.553
4.15
3. 484
4.18
3.482
4.07
3.478
4.03
3. 479
3.99
3.506
3.99
3.527
4.03
3. 575
4.04
3.624
4.04
3.856
4.07
3.828
4.06
3.929
4.08
25,940
447
26,089
436
26,411
430
26,421
425
26,585
421
26, 900
415
27, 051
411
27, 272
407
27, 606
403
27, 713
397
27, 893
393
28,260
390
28, 482
385
28, 618
371
Total outstanding, end of year or month
_i ill. $.. 69, 890 76, 810 69,203 68,786 68,913
Installment credit, total
do
53, 745 59,397 53,597 53,552 53,795
Automobile paper
do
22, 199 24, 521 22, 189 22,271 22, 471
Other consumer goods paper..
do
13, 766 15, 303 13,638 13,467 13,451
3,354
3,502
3,335 3,321
Repair and modernization loans..
.do
3,389
Personal loans
._
do
14,391 16, 071 14,416 14,479 14,552
By type of holder:
Financial institutions, total
.do
46, 992 51, 990 47,300 47,454 47,653
Commercial banks
do
21, 610 23,943 21,630 21, 799 21,919
Sales finance companies....,
j do
13,523 14, 762 13,840 13, 788 13,802
5,584
Credit unions
.
^ do
5,668
6,458
5,607
5,622
4,592 4,595 4,597
Consumer finance companies
do
5,078
4,590
1,654
Other
__
do
1,667
1, 749
1,665
1,647
Retail outlets, total
. .
do
6,297
6,098 6,142
7, 407
6,753
Department stores
_ _
do
3,063
3,044
3,922
2,949
3,427
Furniture stores. _
_
.do
1,065
1,022
1,047
1,152
1, 086
Automobile dealers
..
do
328
334
370
330
328
Other.
..._.
do
1,841 1,772 1, 742
1,963
1,912
Noninstallment credit, total
.do..>. 16,145 17, 413 15,606 15,234 15,118
Single-payment loans, total.. __
do
5,900 5,958 6,002
5, 959: 6,473
Commercial banks _
_ _ _ do
5,036
5,076
4,991
5,469
5,047
Otherfinancialinstitutions..
.......do
922
909
926
1,004
912
'Revised,
i Average for Dec.
2 Quarterly average.
3 MCmthly a\> erage.
cfFor demand deposits, the term "adjusted" den otes denland del)oslts otlier than domestlc commercial Interbank and U.S. Government less casli items lii process of collec tlon;
for loans, exclusive of loans to domestic commercial I
>anks anc1 after d(jductlon of valu ation
reserves (individual loan items are shown gross; i.e., before d(iductton ofvalual tlonreseryes).
? Includes data not shown separately.
fData have been revis ed as f<)llows: (
mercial bank credit (seas. adj. only), back to 1948; consumer credit— unadj., back to 1962;
69,816
54,382
22,830
13,476
3,328
14, 748
70,945
55, 120
23,255
13, 599
3,364
14,902
71,907
55,914
23,702
13, 730
3,395
15, 087
72,456
56, 496
24, 024
13, 813
3,426
15, 233
73, 069
57, 055
24, 251
13,923
3,466
15,415
73, 495
57, 446
24, 295
14,046
3,493
15, 612
73,928
57, 826
24. 423
14, 222
3,509
15, 672
74,371
58,085
24, 367
14,431
3,516
15, 771
76,810
59,397
24,521
15,303
3,502
16,071
76,145
59,342
24, 574
15,204
3,473
16,091
N
CONSUMER CREDIT!
(Short- and Intermediate-term)
764-272 O-65-5
48, 191 48,824 49, 543 50,082 50,583 50, 937 51,220 51,341 51,990 52,159
22,224 22, 559 22,907 23, 176 23,389 23, 527 23, 663 23,680 23,943 24,091
13,893 14,027 14,228 14,359 14,475 14, 553 14, 625 14, 622 14,762 14, 797
6,429
6,014
6,204
6, 109
5,776 5,889
6,283
6,334
6,378
6,458
5,078
4,701 4,748
4,797
4,919
4,628 4,657
4, 845
4,870
5,078
1, 764
1,693
1,690
1,718
1,742
1,670
1, 729
1,692
1,728
1, 749
7,183
6,414
6,472
6,191
6,744
6,296 6,371
6, 509
6,606
7,407
3,791
3,106 3,182 3,231
3,267
3,332 3,371
3,541
3,444
3,922
1,128
1,013
1,028
1,037
1,044
1,020
1,062
1,088
1,048
1, 152
373
355
360
340
363
367
348
365
367
370
1,891
1,750
1, 733
1,732
1,757
1, 746
1,963
1,725
1, 733 1, 748
15,434 15,825 15, 993 15,960 16, 014 16, 049 16, 102 16, 286 17,413 16,803
6,412
6,048 6,206 6,233 6,218
6,299
6,333 6,412
6,473
6, 354
5,409
5,152 5,230
5,313
5,335
5,329
5,377
5, 469
5, 361
5,361
1,003
896
920
976
964
889
1,004
972
1,035
993
seas, a dj., bad i to 196(). Revis ions are availab le as fo Hows: Cc)mmercia 1 bank jredit1948-65 , in the J une 1964 Fed. Res. Bulleti n; consu mer creclit—1962 unadj., i n the N(>v. 1963
O'Adju sted to
Fed. B,es. BulkJtin; 1960i-62 seas. adj., on p. 28 of 1the June 1964 Su RVEY.
exclud e interbank loans .
§ Fc bond y ields, se<3 p. S-20
r
^Data are as of end of
*Ne>iv series ( FHLBB );datap rior to E>ec. 1962 not available.
consec utive 4-w eek peric)ds endiE g in monith indie ated, exaBpt June figure wllich is as of June
30 (enc1 of fisca1 year).
SURVEY OF CUERENT BUSINESS
S-18
Unless otherwise stated, statistics through 1962
mud descriptive notes are shown In the" 1963
edition of BUSINESS STATISTICS
1963
1964
Monthly
average
March 1965
1964
Jan.
Feb.
Mar.
Apr.
1965
June
May
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb
FINANCE—Continued
]
CONSUMER CREDITt— Conflnned
Total outstanding, end of year or mont|i—-Con.
Noninstallment credit— Continued
Charge accounts total
mil $ 16,871 16,300
1909
1895
Department stores
do
14,756
Other retail outlets
do
1635
1520
Credit cards
do
Service credit
_do__._ 1 4, 315 14,640
Installment credit extended and repaid:
Unadjusted:
Extended total
do
Automobile paper
do
Other consumer goods paper
-_____do_--All other
do
Repaid total
do
Automobile paper
do
Other consumer goods paper
do
All other
do _ _
Seasonally adjusted:
Extended total
do
Automobile paper
do
Other consumer goods paper
do
All other
do
Repaid total
do
Automobile paper
do
All other
4,805
655
3,590
560
4,471
4,634
614
3,485
535
4,482
4,833
610
3, 667
556.
4,553
5,099
626
3,910
563
4,520
5,238
610
4,028
600
4,522
5,240
576
4,008
656
4,502
5,231
588
3,960
683
4,484
5,223
624
3,928
671
4,472
5,352
660
4,055
637
4, 417
5,394
703
4,065
626
4,480
6,300
909
4,756
635
4,640
5,724
793
4,280
651
4,667
4,784
1,689
1,380
1,715
4, 932
1,699
1,508
1,725
4,552
1,686
1,212
1,654
4,597
1,604
1,383
1,610
5,322
1,983
1, 488
1,851
5,079
1,783
1,504
1,792
5,578
2,127
1,495
1, 956
4,991
1,768
1,470
1,753
5,584
2, 137
1,547
1, 900
4,846
1,712
1,424
1,710
5,949
2, 245
1,632
2,072
5,155
1, 798
1,501
1,856
5,747
2,166
1,543
2,038
5,165
1,844
1,460
1,861
5, 519
1, 984
1,540
1,995
4, 960
1,757
1,430
1,773
5,393
1,830
1,592
1,971
5,002
1,786
1,469
1,747
5,552
1,999
1,657
1,896
5,172
1,871
1,481
1,820
5,323
1,727
1, 672
1,924
5,064
1,783
1,463
1,818
6.767
1,992
2,404
2,371
5, 455
1,838
1,532
2,085
5,023
1,836
1,440
1,747
5,078
1,783
•1, 539
1,756
5,276
1,888
1,493
1,895
4,848
1,684
1,441
1,723
5.068
1,834
1,417
1,817
4, 593
1, 613
1,320
1,659
5, 339
. 782
4,014
543
4,367
5,421
1,953
1,578
1,890
4,842
1,716
1, 395
1,731
5,480
1,942
1,665
1,873
4,956
1,735
1,468
1,753
5,371
1,961
1,544
1,866
4,959
1,759
1,453
1,747
5,552
2,023
1,589
1,940
5,059
1,776
1,483
1, 800
5,399
1,962
1,537
1,900
5,029
1,768
1,486
1,775
5,541
1,996
1,546
1,999
5,058
1,781
1,448
1,829
5,529
2,017
1,570
1,942
5,094
1,789
1,496
1, 809
5,617
2,024
1,588
2,005
5,104
1,802
1,491
1,811
5,507
1,924
1,582
2,001
5,097
1,788
1,456
1,853
5,456
1,858
1,631
1,967
5,155
1,818
1,509
1,828
5,816
2,043
1,719
2,054
5, 256
1,864
1,505
1,887
5,883
2,120
1,729
2, 034
5,213
1, 830
1,526
1,857
6,628
9,586
9, 848
10, 072
-3, 219
-486
11, 525
9,393
2,132
8,334
12,168
9,390 10, 163
2,778 -1,829
10,652
9,533
1,119
14,376
4,745
10, 502 10,217
3,874 -5,472
10, 552
11, 218
-666
11,739
4,344
9,700 10, 512
2,039 -6, 168
9,716
9,281
436
5, 506
1,964
1,597
1,945
5,035
1,770
1,469
1,796
do
FEDERAL GOVERNMENT FINANCE
Net cash transactions with the public:^
Receipts from
....mil. $_.
Excess of receipts, or payments (— )
Seasonally adjusted quarterly totals: §
Receipts
_.._
do
10, 525
6,136
100
5,398
491
2,864
1, 672
7, 511
899
449
4,666
1,523
14, 531
12, 401
117
4,873
6,196
1,460
1,884
9,527
941
496
5,713
2, 424
5, 131
3,487
120
1,549
646
624
2,192
7,410
957
442
3,542
2,946
9, 662
6,653
112
4, 967
419
2,338
1,826
8,083
913
479
3,784
2,991
11, 766
10, 072
122
4, 924
3,950
1,148
1, 621
8,450
927
489
4, 198
2,842
4,275
3,398
126
1,423
572
479
1,676
8,329
923
467
4,233
2,716
309. 59
307. 60
311. 53
311. 71
311. 18
314.09
315.61
315.64
318. 49
317. 94
317.98
319. 88
305. 40
262. 18
14.23
43.22
4.18
303.38
261. 38
13.93
42.00
4.22
307. 21
262.18
14.16
45.03
4.32
307. 36
260. 73
14. 34
46.63
4.36
306.86
261. 12
14.02
45.74
4.33
309. 62
262. 18
14.20
47.44
4. 46
311. 12
263. 76
14.30
47.37
4.49
311. 22
264. 96
14.10
46.26
4.42
314. 02.
267.36
14.33
46. 66
4.46
313. 55
267. 48
14.36
46.08
4.39
313. 68
269.44
14. 68
44. 24
4.31
315. 54
269.98
6,580
5,853
101
3,873
583
404
1, 619
8,492
925
481
4,348
2,819
12, 235
8,047
87
6,975
451
2,835
1,887
7,521
880
450
4,365
1,946
13, 961
10, 148
108
3,991
6, 654
1, 579
1,629
7,871
907
455
4,378
2,143
bil. $. . 1309.35 i 317.94
308.58
310. 36
1305.21
1261.56
1 14. 14
i 43. 66
V4.13
304. 50
262. 58
14.44
41.92
4.08
306. 13
263. 25
14.39
42.88
4.22
__do
do
do
Interest bearing, total
do
Public issues
__ _
_
do
Held by U.S. Govt. in vestment accts_ do
Special issues __
__
___do
Noninterest bearing _ _ _ _ _ _ _ _ _ _ _ d o
Guaranteed obligations not owned by U.S. Treasury, end of month
bil.$__
U.S. savings bonds:
Amount outstanding, end of month
do
Sales, series E and H_ _ _
do
Redemptions
do
i 313.55
i 267.48
114.36
146.08
i 4. 39
8,972 10, 025
8,856
7,037
125
124
3,398
5, 068
3,953
449
779
1, 491
1,769
1,840
8,770
7,051
955
917
495
366
3,997 »• 4, 473
1,780 «• 2, 866
9,559
6,609
109
5,895
684
1,106
1,765
7,930
895
415
4,564
2,071
9,769
7,391
113
4,361
2,087
1, 426
1,782
8, 079
920
457
4,355
2,422
9, 523
7, 293
105
4,525
1, 897
1, 346
1,650
7,849
852
439
4,414
2,189
10, 256
6, 387
11, 112
9,358
-S57 -2, 971
28, 708
30, 210
1,502
28,162
30, 645
-2,483
28, 515
29, 548
-1,033
29, 668
30, 491
-823
do
Excess of receipts, or payments (— )
do
Budget receipts and expenditures:
Receipts, total
__._do
Receipt** netf
do
Customs. -'__.__.
do
Individual income taxes
^
do____
Corporation income taxes
do
Employment taxes
_do
Other internal revenue and receipts
do
Expenditures, totaPf.
.__
do
Veterans' services and benefits
National defense.
_
All other expenditures .
Public debt and guaranteed obligations:
Gross debt (direct), end of mo., total..
9,381
9, 763
-382
6,329
5,642
76
3,688
607
399
1,560
7,676
966
450
3,987
2,349
45.57
4.34
1.74
1.81
.76
.79
.82
.80
.80
.81
.82
.85
.89
.82
.83
.81
.66
.69
i 49. 03
.40
.42
149.89
.38
.44
49.11
.47
.53
49.21
.41
.43
49.26
.40
.48
49.30
.38
.45
49.37
.37
.41
49.44
.38
.45
49.50
.39
.47
49.57
.36
.41
49. 63
.36
.43
49.70
.37
.41
49.81
.35
.36
49.89
.37
.43
49. 94
.43
.53
50.01
.39
.45
i 141.12
141. 87
142. 53
143.07
143. 68
144.31
144. 96
145. 82
146. 48
147. 17
147. 98
148. 75
149. 32
i 66. 23
15.81
13.87
i 16. 44
13.44
i 30. 99
66.63
5.78
3.86
16.44
3.42
31.41
66.79
5.80
3.86
16.42
3.42
31.46
66.76
5.73
3.85
16.44
3.41
31.51
66.91
5.69
3.85
16.43
3.41
31.64
67.11
5.73
3.83
16.47
3.40
31.76
67.12
5.63
3.82
16.47
3.39
31.90
67.69
5.76
3.81
16. 51
3.41
32.18
67.74
5.76
3.82
16.49
3.41
32.22
67.82
5.79
3.85
16.44
3.40
32.31
68.04
5. 77
3.87
16. 35
3.38
32. 62
68.17
5.70
3.84
16.33
3.38
32. 77
67.97
5.51
3.81
16.29
3.36
32.93
15.66
5.74
5.77
5.85
5.90
2.37
3.43
51.81
47.82
4.40
6.87
1.17
6.61
5.94
2.39
3.44
52.12
48.08
4.42
6.91
1.18
6.64
6.02
2.42
3.49
52.47
48.38
4.44
6.96
1.26
6.71
6.06
2.48
3.47
52.83
48. 71
4.45
6.95
1.25
6.60
6.13
2.53
3.49
53. 17
49.01
4.46
6.99
1.35
6.64
6.20
2.54
3.55
53. 56
49.37
4.49
7.02
1.28
6.80
6.24
2.55
3.58
53.98
49. 76
4.50
7.06
1. 28
6.88
6.31
2.56
3.64
54.40
50.15
4.51
7.09
1.39
6.87
6.39
2.57
3.71
55.18
50.88
4,52
7.13
1.44
6. 68
885.5
386.5
75.5
13.7
79.6
158.5
171. 7
830.2
356.9
72.0
13.7
75.0
147.8
164.8
917.4
377.7
78.1
14.4.
79.5
165.7
202.0
857.8
370.4
69. 1
11.9
82.8
150.5
173.1
840.7
355.9
66.5
12.1
77.1
143.4
185.7
882. 3
372.9
73.513.7
77.1
149.6
195.5
898.8
375.3
77.5
12.4
78.2
143.8
211. 6
803.8 1, 179. 3
342.6
432.8
75.2
79.2
12.6
17.6
77.1
81.5
136.0
173.0
160.3
395.2
LIFE INSURANCE
institute of Life Insurance:
Assets, total, all U.S. life insurance companies §
bil. $_.
Bonds (book value), domestic and foreign,
total
___
bil $
U.S. Government
do
State, county, municipal ( U S )
do
Public utility (U S )
do
Railroad (U.S.)
do
Industrial and miscellaneous (U.S.)
do
Stocks (book value), domestic and foreign, total
Preferred (U.S.)
do ~~ 12.37
2.35
2.35
2.36
13.20
Common (U.S.)
do
3.29
3.32
3.39
i 50. 60
Mortgage loans, total
do
50.83
51.44
51.13
i 46. 80
Nonfarm_.
_
do
47.01
47.27
47.52
Real estate
____
„
do
14.32
4.37
4.38
4.39
16.66
Policy loans and premium notes
do
6.73
6.77
6.82
Cash...
do
11.46
1.28
1.27
1.28
Other assets
do
16.18
6.29
6.43
6.53
Payments to policyholders and beneficiaries in
U.S., total....
.
mil$
835.7
896.5
885. 8
838.2
938.0
Death payments
do
350.7
377.8
400.3
364.6
397.6
Matured endowments
do
67.4
74.9
72.1
78.7
81.3
Disability payments
do
13.4
12.9
12.1
12.6
13.8
Annuity payments.. ..___„„___
do
75.1
80.1
93.2
77.4
82.5
Surrender values... _
"do
149.1
152.8
151.5
146.6
167.3
Policy dividends... ......
do
180.4
197.5 149.5
165.4
195.5
j Revised.
» Preliminary. i End of year; assets of life insurance companies are annual
statement values.
tSee similar note on p. S-17.
another than borrowing
SKevisIons available upon request are as follows: Net cash transactions with the public
(seas, adj.), 1962-lst qtr. 1963; assets all life insurance cos., Jan.-Nov 1963
1 Data for net receipts and total expenditures reflect exclusion of certain interfund transactions.
SURVEY OF CURRENT BUSINESS
March 1965
Untos® ©tSaerwfse stated, statistics tSwromgli It 62
aiad descriptive notes are shown In the 15J63
edition of BUSINESS STATISTICS
j.
1968
| 1964
S-19
1964
Monthly
average
Jan.
Feb.Man
Apr.
June
May
July
1965
Aug.
Sept.
Oct.
Nov.
Jan.
Dec.
Feb.
LIFE INSUBANCE— Cbntiniiecl
.Life Insurance Agency Management Association;:
Insurance written (new paid-£or insurance) : t
Value estimated total
mii.il
Ordinary.
do ;__
Group and wholesale
do :;
Industrial
do
' 7, 464
' 5, 293
1, 574
596
Premiums collected:t
Total life Insurance premiums.. -...--...-do....
Ordinary _
„ „_ do.-Qroup and wholesale _ „_„ _...—_ ...do...
Industrial
.___..._.____._...._____-__do.__
1,134
847
169
117
8,548 '6,929 ' 7, 569 ' 8, 560 ' 9, 110 ' 8, 001 ' 8, 959 ' 7, 718 ' 7, 785 ' 7, 986 ' 8, 207 '9,653 '12,104
5, 903 ' 5, 071 '5,349 r 6, 149 '6,328 ' 5, 916 '6,190 '5,847 ' 5, 535 ' 5, 544 ' 6, 084 ' 6, 134 ' 6, 685
2,044 r 1, 346 r 1, 602 r 1, 780
2,174 '1,438 r 2, 147 '1,298 '1,645 '1,854 ' 1, 492 * 2, 870 ' 4, 886
601
512
618
608
622
573
631
647
605
588
631
649
533
1,175
892
176
107
1,153
875
166
112
1,195
908
180
107
Gold and silver:
Gold:' •
Monetary stock, U.S. (end of yr .ormo.).mil,' $.„ U'5, SIS 1 15, 388 15, 512
-21
55
21 ,
Net release from earmark|____.._....._...do._.Exports.. .__.._ _____._________,,.__. .thous $._ 16,982 35,229 56,294
Iinports_---_-__.-_-___-._-__-___;_________do____ 3,701 3,407 2,404
15, 462
15
84,438
2,011
15,461
109
28,334
2,357
1,191
890
185
116
1,164
884
176
103
1,144
861
175
108
1,183
890
191
102
1,188
893
188
107
1,163
868
188
108
1,126
840
184
101
15,462 • 15, 463
49
•-21
66, 307 28, 155
1,813
1,855
15, 461
-«
2,37<
15,462
43
28,146
2,082
15,460
11
0
1,799
28,230
2,362
87.2
11.3
88.2
10.9
11.5
11.5
3262.5
10.8
23,621
4,956
1.293
7,675
5,338
1,783
554
1,182
895
180
107
1,182
890
180
111
1,441
989
235
218
1,200
911
181
108
MONETARY STATISTICS
Production, world total . . . . _.._.....jnil, $.. 2 112. 5
...
80.0
South Africa__._-.-..__.._.__.._......_.do..._
11.6
Canada..
............. o .
............d
United States........ . ..........^ ......do.... 4.3
Silver:
Exports.— . . . . . . . . . . . .......thous, $._ 3S480
.... .....
Imports
._..__._._._
dci— — 5,910
1.279
Price at New York- _.__. dol. per fine b%
Production:
Canada.... .. .. . . ... — •- •-.. ...thous. Hue &z_. 2,487
.
Mexico
.-_d(L... 3, 286
United States.....
................do.... B,84B
Currency in circulation end of jr. or mo._..bll.. $..
85.0
10.9
78.7
10.7
12, 010
5,526
1.293
5,230
6,638
1.293
15,463
15,461 15,386
31
35
56,453 28, 187
2,221 9,704
15,388 '15,185
—26
-173
28, 197
9,902
14,937
83.4
10.7
85.4
10.8
86.9
-11.3
•7,010
6,189
1.293
4, 623
6,007
1.293
11, 310
3,097
1.293
3,883
7,168
1.293
4,672
5,010
1.293
6,341
6,707
1.293
6,466 13,388
5,184
3,400
1.293 •'1.293
33,949
5,703
1.293
23,628
6, 252
1.293
1,986
3,924
.4, 150
2,224
3,049
3,776
2, 372
3,444
3,996
2,673
2S839
3,974
2,708
3, 579
4,879
2,434
3,672
3,603
2, 797
3,268
3,787
2,635
3,784
4,200
2,382
3,440
3,141
2,594
3,823
2,550
3,321
3,000
2,844
4, 522
139.6
36.2
36.3
36.8
36.9
37. 2
.37.7
37.8
38.0
38.2
38.4
39.2
39.6
38.5
157.8
32.4
125.4
113.2
4.2
153.8'
32. B
121. 5
114.6
4.8
152.9
32.6
120.3
115.7
6.1
155.0
32.7
122.3
116.7
4.2
152.4
33.0
119.4
118.1
6.9
153.6
120.3
119.2
7.8
155.2
33.7
121.5
120.1
7.0
155.1
33.8
121.3
121.1
6.4
156.9
33.8
123. 1
122.0
6.6
158.8
34.0
124.8
123.3
5.6
160. 4 ,
34.5
125.9
124.1
5.8
163.6
34.9
128.7
125.0
5.5
163. 9
34.3
'129.6
128.1
4.2
159.0
34.2
124.9
130.6
5.8
153. 8
32.6
121. 2
113.9
153.8
32.7
121.1
115. 1
154.2
32.9
121.3
115.7
154.5
33.0
' 121. 5
116. 4
154.5
33. 3'
.121.3
117.4
155.6
33.4
122.1
118.5
156. 7
33.5
123.3
119.4
157.2
33.7
123.5
'120.6
158.0
33.8
124.2
121.7
158.6
33.9
124.7
123.1
159.1
34.2
124.9
125. 1
159.4
159. 8
34.2
34.5
125.2 • 125.3
126.5. 128.9
159.1
34.6
124.5
131.1
44.6
90.6
32.4
41.4
28.5
a 37. 7
79.9 . 84.9
82.3
9.8
10.3 • 11.6
43.5
84.6
32.6
41.1
29.0
43.6
86.4
32.6
40.9
28.6
45.2
89.6
33.3
42.3
29.6
45.4
89.6
33.8
42.7
30.0
44.9
92.9
32.7
40.9
28.9
47.1
98.2
33.8
42.9
29.8
44.2
88.1
32.8
41.1
29.0
45.4
91.6
33.3
41.8
29.5
Money supply and related data (avg. of daily %.) it
Unadjusted for seas, variation:
Total money supply.. __._..__
_ b!v $ 4150.6 * 156. 3
4
31.5 4 33. 4
Currency outside banks.. ...__.._„„„_.,__ do
4119.0 * 122. 9
Demand deposits
...... ......do
Time deposits adjusted5_.............._.di)._.- 4 105. 5 * 119. 4
4
5.9 . • • • 4 5 . 9
U.S. Government deposits.. .__.._.... __.di>._..
Adjusted for seas, variation:
Total money supply
do
Currency outside banks
d3
Demand deposits
-do
Time deposits sdjustedf •
do
Turnover of demand deposits except interbank and
U.S. Govt., annual rates, seas, adjusted: t
Total (225 centers)
ratio of debits to deposits
New York City
-_.:
do __
Total 224 centers (except N.Y.C.)
do __
6 other leading centers c?._
do
218 other centers
.
do
33. a
44. 8 '
88.8
33.3
41.9
29.6
44.2
88.3
32.8
40.3
29.4
45.8
92.0
33.6
42.2
30.0
1. 293
1.293
43. 3
90.4
32.1
41.1
27.6
PROFITS AND 'DIVIDENDS (QTKLY.)
Manufacturing corps. (Fed. Trade and SEC):
Net profit after taxes, all Industries..
mil. $__ 54,871
5362
Food and kindred products....
co _
588
-Textile mill products....
:__c':o ___
Lumber and wood products (except furnf tire)
562
mil. $-_
Paper and allied products
do
5158
6607
Chemical's and allied products. ....
"~<lo_II_
Petroleum refining1
_ _ ..
.do"" §958
Stone, ©lay, and glass products
. do
§148
SHI
Primary nonferrous metal.
do
Primary Iron and steel
,<!o
5234
Fabricated metal products (except ordnance,
machinery, and transport, equip.).
mil. $_
5167
Machinery (except electrical)
. . do
5358
Elec. machinery., equip,, and supplies.__.jlo__._
5325
Transportation equipment (except rioter"
sill
vehicles, etc.)..-.
.•
mil $
Motor vehicles and equipment
iio"
5640
All other manufacturing Industries,.Jo.... §510
Dividends paid (cash), all industries.... . 3o
Electric utilities, profits after taxes (Federal Re=~
serve)! ............................,..._.,..iiiii. $..
Transportation and communications (see pp S-23
and 8-24).
5,121
341
85
-
61
162
630
1,022
70
174
262
...
- ....
'
_______
6,121
400
108
.... . . . .
... . . .
93
'194- I.I..II ....__.
765
960
217 _ _ _ _ _ _ _
„___
200 .
325
__..___ . . . .
...
152
416
323
5,670
487
155
'
94
180
707
948
227
163
283
227
553
361
238
526
372
....
...
111
822
489
150
945
622
2,410
2,600
660
542
....
...
2,395
5546
...
- . . . . --•
142
390
757
2,467
..—-__
583
SECURITIES .ISSUED
Securities and Exchange Commission • 1
Estimated gross proceeds, total
nil $
By type of security:
Bonds and notes, total..__...._....-...do
Corporate
——_..-._.._.. do"
Common stock .
°" ~"~ """do
Preferred stock
_ „
d0
2,635
3,052
2,482
2,022
2,121
2,521
1,933 2,031
2,795 2,360
863
. 621
864
906
714
85
95
80
87
223
34
27
8
29
3
' Bevised. * End of year. 2 Estimated; excludes 'U.S.S B., othe T Easte rn Euroi3ean
4
countries, China Mainland, and North Kor%s For Oct.-Dec. qilarter.
Avera ?eof
daily figures. « Quarterly average.
{Revisions will be shown later as follows: ]nsuranc e written for 1963 (Jan.-A pr., all series;
May-Dec., total and ordinary) and 1962 (total and ordinaryr); prem mms co: lected, J an.r
July 1963; profits of electric utilities, 1962; securities i ssued, K 61-62. IRevisions back to 1947
for money supply and related data are available in t he June 1964 Fed . Res. Bulletin; t iiese
4,930
2,267 3,056
2,467
4,128
2,527 2,909
2,332
4,607
3,111
3,559 2,119 2,686
2,242
4,016
2,371
2,696
4,555 2,969
2,199
863
1,008
1,091
644
616
1,048
'819
'650
725
1,434
1,349
98
289
166
58
133
84
'188
'43
94
23
50
82
59
54
23
49
'25 '
9
50
revisioiis result from ad; ustment 3 to new benchm arks and fromre^ isions of seasonal factors
beginn ing 1955.
§0nincrease in eamai•ked gold
ITimec
t
er
marcial
those d ue to domestic ecHnmerciEil(-). and the lepositsat.all comevised sI )anks otha than
banks
CT.S.- GOT;
fB
3ries; dat prior
to 1964 not avai lable.
cflncluc les Bost(m, Philadelphia, Chicago, Detroit, San FKinoisco,
and Lc s Angeles.
SURVEY OF CURRENT BUSINESS
S-20
Unless otherwise stated, statistics through 1962
and descriptive notes are shown in the 1963
edition of BUSINESS STATISTICS
1963
1964
1964
Monthly
average
March 1965
Jan.
Feb.
Mar.
Apr.
May
June
1965
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
FINANCE—Continued
SECURITIES ISSUED— Continued
Securities and Exchange Commission!— Continued
Estimated gross proceeds— Continued
By type of Issuer:
Corporate total 9
mil. $
IVtanufacturlnc
do
Extractive (mining)
- do
Public utility
- do
Railroad
- --do
Communication
do
Financial and real estate
do
Noncorporate, total?
-- _do
TJ S Government
do
State and municipal
- do
New corporate security issues:
Fstlmated net proceeds total
--do
Proposed uses of proceeds:
New money total
------do
Plant and equipment
_ _ > _ _ _ — -do
Working capital
do
Retirement of securities
do
Other purposes
• -do _
State and municipal issues (Bond Buyer) :
1,020
295
18
222
36
91
260
1,122
250
35
230
28
181
290
985
166
54
137
30
159
335
710
128
10
161
35
84
113
805
165
30
195
24
36
329
2,234
195
45
174
48
1,385
270
1,155
217
14
501
25
27
232
1, 461
374
20
271
22
269
459
869
192
8
227
54
28
285
1,615
601
842
1,930
888
879
1,497
474
1,006
1,312
413
810
1,316
399
844
2,696
1,444
1,204
1,112
367
660
1, 595
383
900
1,598
387
922
1,007
728 ' 1, 204 '1,032
178
272
-•269
16
87
'58
167
338
'339
7
28
16
31
21
'88
284
••355
'197
3,400
2,449
767
1,323
358
952
' 702
'213
'23
'47
15
'17
'209
1,577
637
52
205
29
31
407
858
416
11
121
26
12
180
' 1, 878 '3,904
3,242
367
566
816
1,534
373
1,097
1,474
433
811
1,108
972
702
796
2,215
1, 141
1, 441
854
718
'1,191'
1,015
' 695
1,560
849
749
450
299
127
130
911
573
338
62
135
845
473
372
43
85
523
330
193
17
162
677
341
336
42
77
2,094
1,788
306
37
83
953
662
292
72
116
1,292
720
572
63
86
653
430
223
74
127
570
296
273
57
91
788
464
325
82
••321
'750
'539
'211
'66
'199
'533
'232
'301
'49
'112
1,256
603
653
141
163
699
346
353
48
103
842
457
879
452
1,006
267
810
470
844
593
1,204
869
660
515
900
393
922
222
767
458
952
540
816
446
566
354
1,097
296
'811
'424
U61
1488
mil $
i 5, 541 i 5, 101
i 1, 210 U,169
Customers' free credit balances (net)
do
IV^oney borrowed
- _-__-_do_-— 14,481 14,132
464
5,546
1,262
4,251
465
5,405
1,199
4,191
474
5,387
1,231
4, 156
458
5,531
1,165
4,428
448
5,458
1, 138
4, 475
466
5,388
1,146
4,431
451
5,314
1,114
4, 395
465
5,207
1,077
4,281
456
5,241
1, 145
4, 231
475
5,205
1,155
4, 155
488
498
5,101
5,181
1, 169
1,131
4,135 ' 4, 132
519
5,020
1,207
3,940
Bonds
Prices:
Standard & Poor's Corporation:
Industrial, utility, and railroad (Al-h Issues):
Composite (19 bonds) cf—dol. per $100 bond- 96.8
111.3
Domestic municipal (15 bonds).--—do
95.1
111.5
95.3
111.2
95.7
112.3
95.2
109.9
94.6
110.3
94.7
111.6
94.9
111.8
95.2
112.1
95.3
111. 8
95.1
111.0
95.1
110.9
95.2
112.0
95.3
112. 6
95.5
114. 0
95.5
113.3
86.31
84.46
84. 42
84.60
84.10
83.84
84.38
84.70
84.70
84.59
84.31
84. 37
84. 81
84.65
84.56
84.40
145.04
137.82
240. 21
220.07
286. 79
253. 71
230.97
213.65
253.06 288. 43
240.93 228.37
257. 85
236.45
242.25
229.17
247. 56
227.28
197. 81
186.44
221. 98
211.69
239. 88
218. 21
204.06
193.97
211. 88
200.92
204.50
194. 12
138.94
132.17
231. 90
211. 86
280. 62
248. 73
226.21
209.23
244.06
232. 30
282.05
222. 06
252. 29
231.22
235. 66
221.26
238.63
218. 63
190. 38
178. 75
212.29
201. 31
227. 75
206. 52
189.71
180. 23
203. 14
192. 02
195. 35
185.17
123. 61
210. 38
284.85
226. 12
212. 95
226. 94
200. 45
215. 15
190.12
166.90
205.15
222.93
179.45
193.49
196. 84
215.30
4.50
4.57
4.56
4.55
4.56
4.58
4.59
4.59
4.58
4.57
4.57
4.57
4. 58
4.58
4.57
4.55
4.26
4.39
4.48
4.86
4.40
4.49
4.57
4.83
4.37
4.49
4.56
4.83
4.36
4.46
4.56
4.83
4.38
4.47
4.56
4.83
4.40
4.49
4.59
4.85
4.41
4.50
4.60
4.85
4.41
4. 51
4.60
4.85
4.40
4.50
4. 58
4.83
4.41
4.49
4.57
4.82
4.42
4.48
4.55
4.82
4.42
4.49
4.55
4.81
4.43
4.49
4.57
4.81
4.44
4.50
4.58
4.81
4.43
4.48
4.57
4.80
4.41
4.46
4.54
4.78
4.42
4.41
4.65
4.52
4.53
4.67
4.50
4.51
4.68
4.48
4.51
4.67
4.49
4.51
4.67
4.53
4.53
4.69
4.54
4.53
4.69
4.54
4.55
4.70
4.52
4.54
4.68
4.52
4.54
4.65
4.52
4.53
4.65
4.53
4.52
4. 66
4.53
4.53
4.67
4.54
4.54
4.68
4.53
4.52
4.66
4.52
4.51
4.62
3.18
3. 23
3.20
3.22
3. 13
3.23
3.17
3.17
3.32
3.32
3.26
3.29
3.16
3.21
3.20
3.20
3.19
3.18
3.19
3.20
3.26
3.25
3.23
3.26
3.18
3.18
3.12
3.15
3.04
3.06
3.17
3.10
4. 00
4.15
4.15
4.14
4.18
4.20
4.16
4.13
4.13
4.14
4.16
4. 16
4.12
4.14
4.14
4.16
Short-term
—
do
882
529
SECURITY MARKETS
Brokers' Balances (N.Y.S.E. Members Carrying
Margin Accounts)
Cash on hand and in banks
U.S. Treasury bonds, taxable!
—do
Sales:
Total, excl. U.S. Government bonds (SEC) :
All registered exchanges:
Market value
mil $
Face value
do
New York Stock Exchange:
M^arket value
do
Face value
- do
New York Stock Exchange, exclusive of some
stopped sales, face value, total.—
mil. $~
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 & Poor's Corp. (15 bonds)
—do
U.S. Treasury bonds, taxable©
-
_do
Stocks
Cash dividend payments publicly reported:
Total dividend payments
__
mil. $ 216,188 217,682 1, 187. 5
22,487 22,805 305.1
Finance
„ __
_
-do
28,510 29,298 346. 2
Manufacturing
do
2582
Mining
.___ __
do
18.1
2601
Public utilities:
21,456 2 1, 573 247.0
Communications _
do
21,900 2 2, 036
135.0
Electric and gas _
_ _ _ _ - _ — _ _ _ _ _ _ do
2377
26.4
Railroads
do
2422
2642
90.2
Trade
_
_
- do
2680
2232
Miscellaneous _ _ _ _ _
_ _
do
19.5
-268
594.7 2,377.0 1, 131. 1
209.3 240.2 221.2
170.8 1, 542. 9
353.3
2.2
110. 6
18.2
454.2 2,566.0 1,157.8
475.3 2,517.5 1, 211. 7
488.5 3,520.3 1,385.2
613.3
104.0
229.3
164.5 1,722.5
3.9
112.3
241.1
362.1
16.6
115.5
273.9
166.2 1, 625. 2
4.1
111.0
246.4
385.3
17.5
493.1
125.8
175. 8 2,282.9
183. 0
3.2
374.8
408.1
20.0
214.1
175.5
3.6
292.1
144.7
31.8
71.7
22.2
2.7
140.7
6.5
23.0
10.8
112. 6
236.9
96.8
71.2
43.8
290.8
146.1
19.1
102. 1
24.2
2.0
151.4
9.1
45.5
12.1
7.12
7.77
3.49
3.96
4.55
6. 12
7.32
8.06
3.49
4.00
4.61
6.12
7.37
8.10
3.68
4.03
4.68
6.22
7.44
8.20
3.73
4.03
4.80
<6.22
7.47
8.24
3.73
4.03
4.80
6.22
3.0
140.1
8.8
47.7
12.8
109.6
223.8
62.4
57.4
30.1
289.4
140.1
23.8
66.7
18.4
3.5
137.5
5.7
23.7
11.4
111.6
225.8
63.9
65.6
35.0
288. 7
141.1
21.1
70.3
16.8
3.2
139.7
8.9
26.2
11. 5
109.9
230.1
65.7
66.2
35.5
6.91
7.55
3.34
3.70
4.55
5.90
6.93
7.56
3.38
3.72
4.55
5.90
6.95
7.58
3.38
3.72
4.55
5.90
6.97
7.61
3.38
3.72
4.55
5.90
6.98
7.61
3.38
3.76
4.55
5.90
7.03
7.68
3.39
3.76
4.55
5.90
7.05
7.69
3.46
3.76
4. 55
6.12
7.05
7.70
3.48
3. 91
4.55
6.12
Price per share, end of mo. (200 stocks) 9 ___do_ _ 202.32 235. 08 222. 47 225. 21 227. 79
Industrial (125 stocks)
do
218. 24 258. 55 241. 38 246.19 250. 46
Public utility (24 stocks)— _ __
__ _ do
102.79 108. 76 103. 69 104. 23 103. 13
Railroad (25 stocks)
_.
do _
88.26
84.81 87.99
78.49
94.01
'Revised.
1 End of year.
2 Annual total.
{Revisions for 1961-62 will be shown later.
9 Includes data not shown separately,
cr Number of bonds represent number currently used: the change in the number does not
affect the continuity of series.
229.62
251. 53
104.00
88.66
232. 35
255. 45
104.11
94.99
236. 24
257.62
105.40
99. 52
Dividend rates and prices, common stocks
(Moody's):
Dividends pei- share, annual rate (200 stocks)
dollars—
Industrial (125 stocks)
__
do_
Public utility (24 stocks)—
_ _ _ _ _ _ do—
Railroad (25 stocks)
do
Bank (15 stocks)
__„
do
Fire insurance (10 stocks)..—
do
6.42
6.98
3.21
3.50
4.46
5.84
7.05
7.70
3.43
3.81
4.57
6.00
6.89
7.52
3.33
3.67
4.54
5.86
1
240. 48 236. 88 242. 73 243. 14
263. 49 260. 03 268.38 269. 08
110. 76 110. 86 112. 67 115. 11
94.14
100. 64
98.13 102. 41
IPrices are derived from average yields on basis of an
OFor bonds due or callable in 10 years or more.
241.05
268. 83
115. 62
95.95
assumed
242.99 250. 34 248. 21
270. 21 280. 74 278. 19
115. 54 119. 00 118. 81
95.52 94.62
92.59
3 percent 20-year bond.
SURVEY OF CURRENT BUSINESS
March 1 6
95
Unless otherwise stated, statistics through 1902
and descriptive notes are shown in the 1963
edition of BUSINESS STATISTICS
1965
1964
1963 f 1964
Monthly
average
S-21
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
FINANCE—Continued
SECURITY MARKETS-Continued
Stocks— Continued
Dividend yields and earnings, common stocks
(Moody's) :
Yield (200 stocks)
percentIndustrial (125 stocks)
— dj Public utilltv (24 stocks)
da...
Railroad (25 stocks)
_.
___d!)
Bank (1 5 stocks)
do _
Fire insurance (10 stocks)
da...
3.17
3.20
3.12
4.46
3.15
2.51
3.00
2.98
3.15
4.05
2.97
2.50
3.10
3.12
3.21
4.33
3.13
2.52
3.07
3.07
3.20
4.21
3.14
2.48
Earnings per share (indust., qtrly. at ann. rate;
pub. util. and RR., for 12 mo. ending each qtr.):
Industrial (125 stocks)
dollars U2.43 1 14. 45
i 4.99 15.38
Public utility (24 stocks)
d[>
16.29 17.00
Railroad (25 stocks)
da
Dividend yields, preferred stocks, 14 high-g-ade
(Standard & Poor's Corp.).,
__perc<mt__
Prices:
Dow-Jones averages (65 stocks)
Industrial (30 stocks)
4.
._
Public utility (15 stocks)
Railroad (20 stocks)
...
Standard & Poor's Corporation :cf
Industrial, public utility, and railroad:
Combined index (500 stocks) _ _ _ . 1941-43= =10—
4.30
4.32
253. 67 294.23
714. 81 834. 05
138. 36 146. 02
165. 30 204. 36
3.04
3.02
3.28
4.21
3.02
2.49
3.03
3.01
3.25
4.20
2. 99
2.46
3.00
2.98
3.25
3.92
2.94
2.45
13.85
5.02
6.81
4.31
4.31
4.34
272. 31 276. 74 282.93
776. 62 793. 03 812. 18
140. 19 140 09 139. 25
180. 93 184. 55 191. 97
2.95
2.95
3.21
3.78
2.98
2.45
2.98
2.96
3.12
3.99
2.90
2.49
2.92
2.91
3.06
3.74
2.95
2.39
286.09
820.94
139.02
196. 15
2.93
2.89
3.03
3.87
2.89
2.56
3.03
3.00
3.19
4.35
2.99
2.62
2.97
2.92
3.13
4.22
3.08
2.66
3.01
2.96
3.14
4.26
3.25
2.55
4.23
4.18
4.22
04 304.50
04 866. 73
33 154 49
16 206 46
311 84
889. 89
158 09
210 34
2.95
3.00
3.02
4.17
2.93
2.60
16 00
'5.38
7.00
12 60
5 26
7.15
15 15
5.13
6.97
4.37
2.90
2.87
3.09
3/98
2.76
2.52
r
4.41
4.41
4.37
4.29
4.25
4.25
289. 33
823. 12
140. 86
202. 08
290 08
817.63
141 56
206 59
302.02
844.24
147 37
218. 78
298 13
835.30
149 24
211 25
305 85
863. 55
151 85
214. 44
311. 73
875.26
153 93
222.00
4.25
311
880
154
217
313
894
161
210
79
41
31
01
69.87
81.37
76.45
77. 39
78.80
79.94
80.72
80.24
83.22
82. 00
83. 41
84.85
85.44
83.96
86.12
86.75
73. 39
63.30
62.28
64.99
37.58
86.19
76.34
73.84
69.91
45.46
80.85
71.89
67.36
67.26
41.00
81.96
72.92
68.11
67.20
41 54
83.64
75.48
70.15
66.78
42.88
84. 92
76.52
70.93
67.30
43.27
85.79
76.50
72.67
67.29
44 86
85 13
75.85
72.42
67.46
46 29
88.19
77.76
75.47
70.35
48 93
86 70
75.91
75.40
71.17
47 17
88 27
77.97
77.74
72.07
47 14
89 75
79.13
79.08
73. 37
48 69
90 36
78.97
79.18
74.39
48 01
88 71
77.24
77.58
74.24
45 75
91 04
80. 19
79.69
75.87
46 79
91 64
82.52
80.74
77.04
46 76
36.75
74.81
63.38
39.64
77.54
67.20
37.60
77.39
65.46
37.06
75.90
66.19
38.49
76.90
67. 06
39.20
77.17
67.07
39.88
77.66
67.62
38.91
76.69
66.96
39,78
76.98
68.31
39.71
76.58
68.27
41.60
77.48
68.46
41. 75
80.50
67.99
41.61
81.20
66.82
40.08
76.08
66.14
40.40
75.13
66.80
39.43
73.30
68.47
5,359
153
6,012
170
7,649
200
5,317
140
6,401
185
6,982
210
6,072
168
5,683
155
6,181
170
4,828
139
5,823
168
6,245
185
5,195
155
5,773
170
5,959
179
4,574
113
5,035
124
6,149
145
4,280
102
5,325
137
5,933
156
5,196
125
4 745
114
5 266
125
4 106
'100
4 914
120
5 268
'l31
4 371
108
4 872
121
4 918
127
96
103
117
88
114
124
99
96
103
82
110
107
94
104
109
112
Shares listed, N.Y. Stock Exchange, end of mo.:
Market value, all listed shares
bll. $ 386. 63 454 14
Number of shares listed
„
millions.. 7,906 8,732
422. 51
8,183
428.42
8,214
436.79
8,301
441.72
8,378
447 62
8,480
455 01
8,841
464 54
8,941
458 12
8,981
472 02
9,010
476 39
9,095
4.79 1 %
474. 09
9,229
491 85
9,292
400 40
Industrial, total (425 stocks) 9 __
do. .
Capital goods (122 stocks)
do
Consumers* goods (188 stocks)
do
Public utility (50 stocks)
do....
Railroad (25 stocks)
do
Banks:
New York City (10 stocks)....
do
Outside New York City (16 stocks) _.._ do... _
Fire and casualty insurance (22 stocks)!- -do
Sales (Securities and Exchange Commission):
Total on all registered exchanges:
Market value...
_
_ _ _ — mil. $..
Shares sold
_._..___^__
millions—
On New York Stock Exchange:
Market value
mjl. $__
Shares sold (cleared or settled)
..millions—
Exclusi ve of odd-lot and stopped stock sales
(N.Y. S.E.; sales effected)
millions
9,136
9.336
FOREIGN TRADE OF THE UNITED STATES
FOREIGN TRADE
Value*
Exports (mdse.), incl. reexports, totallQ — m:l. $__ 1,945.4 2, 203. 2 2,127.4 2,102.9 2,192.3 2,224.3 2,273.2 2,115.4 2,120.7 1,972.7 2,139.1 2,290.3 2, 267. 0 2, 613. 0 1, 247. 4
Excl. Dept. of Defense shipmentsOdo.- __ 1,868.7 2, 135. 0 2,034.9 2,005.9 2,140.2 2,138.0 2,220.9 2,047.4 2,045.9 1,899.6 2,084.7 2,258.9 2, 182. 9 2, 560. 9 1, 188. 1
2,042 9 2,046 2 2 074 0 2,061 1 2,0618 2 034 2 2 122 9 2 108 8 r 2 235 3 2 1548 2 196 8 2, 43Q 4 1 217 3
Seasonally adjusted O-—
— co.
By geographic regions: A
Africa..— _ __
c0
QO e
Oq A
82.4
100 9
86 2
95 6
99 1 115 2 103 9
93 2
98 7
m o Q7 0 loo 1
Asia
_
„
co
398. 1 434. 9 449.4
420 1 406 8
410 4
450 6 372 3 439 1
422 9
376 4
448 3 447 4
575 5
Australia and Oceania
co
43.6
60.6
48.6
59 0
47 4
48 7
54 0
58 8
60 9
67 3
68 6
76 8
71 9
64 8
Europe
co
589. 0
686.6 695. 1 702 0 738 2 692 3 695 5 622 3 626 5
639 1
729 4
554 3
719 6 825 4
Northern North America
__
co
343.2 395.5 339.6
341. 6 407. 2
426.2 425. 5 417.3 365. 8 380. 3 389.2 429.4 390.9 432.6
Southern North America
_ co
142.2
169.6
149.4
149. 7
164.6
167.0
161 2
179 4
168 3
174 5
155 3
184 1 177 1 204 3
South America
cio
152.6
175. 9
156.2
161. 7 186.6 179.5
147.3
161.3
166. 9
175.' 6
191. 1 225.2
187.8
171.6
By leading countries:
Africa:
United Arab Republic (Egypt Reg.).. .do
17. 5
13.4
22.0
29.6
23.5
22.8
21.1
24.2
14.8
20.8
18.1
21.6
19.3
34.7
90 7
no 9
on r
07 q
Republic of South Africa
do
23 0
32 5
26 1
32.6
29.9
30.8
40. 7
37.3
Asia; Australia and Oceania:
Australia, including New Guinea
do
36.5
51.4
37.6
40.8
40.6
49.7
47.6
49.7
50.8
66.8
57.8
58.4
61.7
55.6
India__
___—
do____
67.0
80.2
79.4
70.2
76.1
67.5
97.8
55.1
87.6
53.1
88.6
91.1
80.7
104.2
on o
91 q
Pakistan
__
do
1K 7
qo A
32 3
9fi n
31 3
25 5
34.3
32.2
38.1
34.9
44.3
Malaysia©
__._ _.
do
6. 4
6.2
5.8
6.0
6.4
6.1
6.1
7.5
7.9
6.6
5.7
6.3
6.7
Indonesia
__
do
4 a
8.8
12.8
56
67
A n
7 4,
22
32
40
33
57
4 q
7 K
Philippines
do
26.9
30.2
30.0
29.9
31.3
32.6
30.4
29.3
28.6
28.2
32.6
27.1
29.5
30.1
1 eo 4
Japan
do "" 141 5
•tAK A
159 0
184 6
166 0 me>
164.0
134.8
139.9
157.4
212.6
Europe:
France.—...
_
..__
([0
56.5
84.2
66.7
66.0
71.4
65.9
71.3
61.5
59.0
51.3
55.2
67.0
64.6
82.8
East Germany
<lo
q
5
3
0
.5
32
17
35
18
46
j^
West Germany
do
92.0
97.6
108.3
97.8
116. 6
112.3
111. 7
96.3
97.2
93.6
114.2
104.0
119. 1
139.5
Italy
__<io_
f»7 7
fjr\ e
KA K
AQ 7
73.4
ft7 7
70 8
75 2
67 9
74 5
73 9
61 0
82.0
Union of Soviet Socialist Republics
<lo
1.7
8.3
12.2 199 n
29.3
22.2
55.3
13.8
1.8
7.3
2.8
1.2
1.8
.8
2.1
Qfi 8
United Kingdom
<io
111.2 107.9
108.0
105. 8
138. 6
125.8
151.2
143.6
••Revised.
p Preliminary.
1 Calendar year total.
totals for 1963 and 1964 have been revised to reflect all revisions published with data through
. ^Number of stocks represents number currently used; the change in number does not
Dec. 1964; the various components have not been so revised.
Iflncludes grant-aid shipments
affect continuity of the series.
9 Includes duta not shown separately
under the Dept. of Defense Military Assistance Program, as well as economic aid shipments
tRevised series; former series covered fire insurance only
under other programs.
AExcludes "special category" shipments.
{Revisions for various periods prior to Feb. 1963 will be shown later.
QThe indicated
©Country designation established Jan. 1964.
SURVEY OF CUEBENT BUSINESS
S-22
Unless ©ilierwfse stated, statistics through 1962
and descriptive notes are shown In the 1963
edition of BUSINESS STATISTICS
1963
1964
Monthly
average
March 1965
1964
Jan.
Feb.
Mar.
Apr.
May
June
1965
.
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
FOREIGN TRADE OF THE UNITED STATES—Continued
FOREIGN TRADE— Continued
Valuef— Continued
Exports (mdse.), Incl. reexports— Con tinned
By leading countries— Continued
North and South America:
Canada
- mil. $..
Brazil
Chile
'
Colombia
Cuba
M!exico
Venezuela
Exports of US merchandise totalO
343.2
395.5
339.6
341.6
407.1
426.2
425.5
417.3
365.8
380.3
389,2
429.4
390. 9
432.6
do___.
262.8
307.8
269.8
261.7
285.3
292.8
314.4
325.1
300.3
297. 1
324.4
.317. 7
328.8
376.6
do
do -.
do
-- do
do
do
Latin American Republics, total?
15. 7
31.4
13. 5
20.0
3.0
68.9
42.3
21.7
32.0
14.9
20.3
0)
89.0
49.6
15.1
32.4
13.1
20.4
(')
72.5
43.6
19.5
23.1
12.2
19.8
C1)
76.6
40.5
17.3
26.5
13.0
20.6
0)
78.2
48.7
16.7
31.3
12.6
17.1
0)
91.0
47.1
18.8
32.5
14.2
21.1
0
103.3
55.8
23.2
26.6
13.1
19.2
0
88.4
50.5
24.3
35.5
13.4
19.2
0
81.6
46.6
26.4
41.0
18.2
18.1
0
95.4
47.6
17.5
32.5
15.6
21.7
0
99.1
47.6
28.1
37.4
15. 4
18.6
(i)
95.8
49.7
34.5
33.3
21.6
23.3
0)
103.8
60.4
do . 1,921.7 2, 173. 8 2,100.4 2,074.3 2,164.3 2,187.9 2,241.9 2,084.4 2,094.8 1,944.5 2,112.1 2,261.4 2, 242. 4 2, 577. 6
1,838.9 2, 102. 1 2, 004. 1 , 972. 8 2, 107. 6 2,093.2 2, 183. 5 2,008.1. 2, 020. 0 1,868. -5 2, 057. 5 2,226.1 2,158.3 2, 525. 5
By economic classes:
Crude materials
-- do___Crude foodstuffs
do
Manufactured foodstuffs and beverages.— do— —
Fi 1 Ti
WY 1
ft
*l°t
* •'}
or
« ™
f id*
By principal commodities:
Agricultural products, total 9
19.2
31.6
16.7
24.5
0)
81.8
57.4
rjo
do
237.9 215.5 207.6
219.1 217.9 252.8 190.3
218. 2 288.9 280.8 327.9
209.7 228.3 232.5 233.1 182.1 177.6
203.1 210.7 235.7 226.6
172. 0
135.8 134.9
137.3
145.2 155. 9 153.8 172. 1
144.8 125.9 116.3
136.5
350.4 349. 5 8 334.5 410.3
289.5 326.4 323.4 333.3 330.9 333.1 324.6
, 188. 5 , 245. 3 1, 271. 8 1, 295. 2 1,210.6 ,208.3 1,118.2 1, 195. 1 1, 252. 6 1,237.6 1, 440. 7
, 091. 5 1, 193. 3 1, 185. 5 1, 243. 2 1,142.9- 1, 133. 8 1, 045. 1 1, 140. 7 1,221.2 1, 153. 5 1,388.6
214.7 242, 0
189.4 211.6
124.8 140.5
273. 6 333. 9
1,107.6 ,237.6
1,030.9 1, 169. 5
247.4
227.4
127. 7
300.7
, 187. 4
, 094. 9
529.0
542.2
525.3
530.8
521. 1
528.9
459.1
35.8
57.5
36.2
215.0
15.1
45.4
26.6
79.0
32.2
.234. 1
16.8
38.0
27.8
74.9
33.7
226.3
16.0
37.0
33.1
64.4
33.3
238.2
14.5
30.0
33.3
51.7
28.8
244.0
12.6
30.5
36. 1
49.5
34.5
238.4
16.7
33.5
32.9
50.7
37.8
180.3
14.9
41.2
_ _ - _ - _ _ _ d o — . 465.4
26. 6
A nimal and vegetable oils and fats*
do
48.9
37.2
Fruits/vegetables, and preparations. ___do___<
191.7
drains and preparations f
do
12.3
P_it3di/ aim med, " • r ,
j
A
43.6
,230.7
, 171. 4
479.3-
419. 5
493.8
571.0
607.9
669.2
40.0
91.5
32.3
171.1
13.0
37.0
41.3
16. 6
35:8
174. 4
12.5
.34.6
36.7
31.8
38.6
50.2
205. 0
16.6
58.1
36.3
50.9
35.5
231.3
15.2
58.2
53.5
97.9
38.1
232.6
19.3
73.4
: 24.5
42.5
204.2
13.3
73,0
1,444.7 1, 636. 6 1,548.3 1,537.6 1,620.5 1, 649. 1 1, 696. 6 1, 608. 3 1,608.8 1, 522. 1 1,618.0 1, 686. 5 1,634.5 1, 908. 4
125. 5 143.4
174.1
148.2 151.6 149.0 148. 4
156. 5 144.6 111.6
120.8 140.7 133.8 141.4
2 161. 9 193.8 171.1 172.3 191.9 182.6
187.4 183. 5 199.4
197. 9 212.3 200.5 192.6 234.8
<unemicais <^& r ei ate p
°
,
31.6
42.1
40.2
30.5
37.9
33.9
44.9
45.6
41.6
34.3
36.0
47.8
50.6
39.8
57.4
61.8
74.6' •63.1
67.2
85.0
68.7
83.4
73.5
69.5
81.7
77.6
81. 7
82.5
Iron and steel prod. (excl. adv. mfs.)___do____
453.4 528. 7
486.8 510.4 542.7 521.5
575.2 513.7 517.2 458.3 507.8 554.4 520.1 636.7
"'
15.2
19.1
20.1
15.8
23.9
18.1
14.1
23.8
22.6
19.7
16.5
14.5
19.1
20.8
36.5
35.2
45.6
39.2
45.5
47.5
49.8
53.7
50.2
46.2
41.0
41.2
48.0
48.4
Tractors, parts, and accessories
do
128.4 125. 6 132.7 123.0
113.4
156.4
122.6
133.2 119.9 116.9
137.7
109.8 122. 5 139.9
Electrical
do
43.4
42.1
39.1
44.4
37.0
46.4
42.4
39.8
58.6
39.7
38.3
37.1
46.8
45.9
M!etalworking§
do
216.5 249.3 226.2 238. 4 264.2 246.1
274.8 240. 3 241.1 218.3 242. 8 258. 2 242.1 299.2
Other industrial
do
39.3
35.1
.37.7
38.4
44.2
41.0
41.8
37.2
35.8
39.4
36.1
40.8
41.7
43.3
Petroleum and products
do
61.5
67.1
57.8
59.6
68.2
71.0
70.7
78.7
68.2
68.0
60.0
66.8
72.5
59.7
Textiles and manufactures
do
1,428.5 1, 557. 1 1,44 4.5 1,336.8 1,590.2 1,560.6 1,455.7 1,593.7 1,610.7 1,491.0 1,561.8 1, 613. 0 1, 671. 7 1, 755. 0 1,112.9
General imports tot&IQO
^®
1,434.4 1,460.3 1,519.5 1,540.6 1,539.4 1.518.4 1,578.1 1,574.9 1,546.4 1,547.7 1, 697. 7 1,642.2 1, 206. 4
By geographic regions: O
71.4
76.3
67.6
64.8
89.8
86.9
83.7
79.6
70.5
84.0
67.5
82.7
66.1
Africa
do
65.8
266.1 301.7
283.0 203.7 282. 9 276.5
278. 3 317.2 334.7 339.1 336.9 315.8
322.6 329. 3
Asia
_ _ _ _ _ _ _ do
30.5
36.6
41.8
38.3
33.4
35.7
36.1
37.6
41.2
32.6
45.6
32.5
Australia and Oceania
do
32.5 . 43.7
400.8 442.8 400.9 394.6 456.1 449.3 411.5 446.7 461.5 377.6
426.3. 466.7 503.3 519.4
Europe
do
319.4 354.0 307. 4 301.9 337.4 341.4 337.4 381.6 373.0 363.9 372.3 388.8 361.9 381. 5
"Northern North Amerlcs
do'
142.2
127. 4 136. 6
150.4
152.0
162.2
143. 4 137.0 140.0
147.6
102.3 123. 3 123.4
115.8
Southern North America
'
do
207.7 209. 1 199. 8 192.7 234.9 211.3
166.6
212.4 202.3 242. 6 259.3
198. 8 202.7
185.4
South America
do
By leading countries: O
Africa: .
.4
.5
.8
.9
.5
1.0
1.9
1.0
3.8
1.7
1.3
2.0
1.0
2.5
United Arab Republic (Egypt Reg.)..— do.___
27.6
18.6
24.5
20.1
19.3
16.2 . 16.9
20.3
24.1
20.8
21.1
21.6
21.3
19.9
Republic of South Africa __ __ _ _ do
Asia; Australia and Oceania:
24.4
23.8
26.3
26.8
23.4
32.2
17.8
16.1
19.2
26.6
23.4
27.7
18.5
24.8
Australia, including New Guinea.— ___do
25.0
29.9
26.7
30.7
26.0
28.4
19.8
25.7
18.0
24.5
24.0
25.4
22.3
28.1
India..— _ _ _ _ _
___„
___do____
3.5
2.7
3.7
3.0
2.5
3.7
3.0
3.5
2.6
3.2
3.8
4.3
3.3
3.9
Pakistan.....
_;
do
15.3
. 13.0
12.2
21.0
10.9
13.3
11.9
12.2
9.9
13.3
14.3
14.8
10.6
Malaysia©
do
15.2
16.0
14.7
14.6
15.2
15.8
12.9
15.2
10.0
15.0
9.4
13.4
14.1
11.7
Indonesia ___»•
±
do
33.4
39.3
32.8
36.6
44.1
33.1
31.3
15.1
34.6
32.2
34.9
29.7
32.3
19.8
Philippines
_______do____
175.7 159.5 165.8
161. 7
155.8
121.7 155.1 167.2
Japan
„
_
do____ 124.8 147. 5 130.6 100.6 133.3 143.5
Europe:
45.2
33.5
50.6
38.4
45.5
43.0
42.8
41.5
35.0
39.5
35.9
35.8
41.2
43.9France
_______
_.
._._do._-_
.5
.3
.9
.6
.7
.4
.6
.4
.8
.7
.3
.5
.6
.3
East Germany-.-...
—do....
97.8 101.8
119.7
74. 8
113:5
99.7 102.7
78.7 106.1
87.8
83.6
92.0
97.7
97.9
West Germany..
do
'45.1
48.8
56.1
48.6
48.2
47.7
45.1
35.2
33.7
40.3
41.2
Italy
-_-_-_.___. .do.... 41.1 . 43.9 36.3
2.1
1.9
1.9
2.1
1.9
1.6
2.4
2.0
1.3
1.2
1.0
.9
1.7
1.7
Union of Soviet Socialist Republics
do__._
101.3
92.3 103.3 112.8
85.7
91.1 100.7 101.5
85.3
83.5
89.9
95.2
90.8
94.0
Untted Kingdom..
____.— ...do.—
North and -South America:
363.1 . 372.1 388.6 361.7 381.4
319. 1 353. 8 307.2 301.8 337.3 341.3 337.2 381.3 372.6
Canada
'
do
265.3 275.1 321. 1 352.4
287.6 293. .6 294.7 284.5 338.7 314.9 260.4 280.7 288.6 247.4
7.1
6.5
6.7
11.7
7.5
9.4
9.7
10.8
12.3 . 7.7
9.3
11.6
10.4
Argentina
„__
_ _ _ _ _ _ _ _ .do... . 13. 7
59.2
46.5
31.9
71.4
36.7
36.6
32.5
60.7
46.8
43.6
23.6
44.6
38.0
53.8
Brazil
do
28.8
18.1
18. 6
14.2
20.0
19.7
17.6
7.4
20.9
16.6
19.3
18.2
15.7
17.3
Chile..
_..........._._do_...
25.1
35.5
18.9
34.0
28.5
15.8
21.1
22.2
23.2
Colombia
do
14.2
20.7
24.5
23.4
17.3
(i)
(i)
(i)
0
CO"
0
0)
Cuba
do
0
0)
0)
(*)
«
0)
0)
54.4
30.6
54.6
39.7
48.5 . 46.6
50.6
49.5
67.2
63.6
59.1
55.9
Mexico
do
53.5
71.4
80.0
77.0
82.5
69.2
76.5
85.7
87.2
81.8
89.3
85.3
66.2
Venezuela....
do
78.1
75.7
79.7
f
2
fRevised to include SITC items classified as "cereals and preparations"; not comparable
Revised
p Preliminary.
i Less than $50,000.
Beginning Jan. 1963, excludes
with data published in the 1963 BUSINESS STATISTICS and in SURVEY issues prior to Nov.
exports of certain fertilizer materials, coal-tar and synthetic resinous products, chemical spe1963
cialties, etc.; in 1962, such exports totaled $52.6 mil.
AManufaetures of tobacco are included in the rionagricultural products total.
JSee similar note on p. S-21; for sports, see also note "f" on p. S-21.
§ Excludes "special category, type 1" exports.
. ••
9 Includes data not shown separately.
QSee similar note on p. S-21.
O For certain recent months, the data by regions and countries exclude imports unidencf Data for semimanufactures reported as "special category, type 1" are included with
tified by area of origin.
©Country designation established Jan. 1964.
finished manufactures.
*New series. Data for periods not shown may be obtained from
Bu. of Census reports.
SURVEY. OF CURRENT BUSINESS
March 1965
.1963
Unless otherwise stated, statistics, through 11962
sad descriptive notes are shown IB the 11963
edition ©f BUSINESS STATISTICS
1964
Monthly
average
S-23
1964
Feb.
Jan.
Mar.
Apr.
May
June
1965
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
FOREIGN TRADE OF THE UNITED STATES—Continued
FOREIGN TRADE— Continued
Yataei— Continued
Imports for consumption, totalQ— — — — mil. $— 1,417.0 1, 550. 0 1,462.8 1,321.4 1,565.3 1,553.8 1,431.6 1,575.0 1,613.4 1,489.8 1,567.7 1,643.5 1, 655. 1 1,720.4 1, 138. 1
By economic classes:
274.3 246.8
274.1 267.8
291.5
325.0
1 261. 7 287. 0
270. 4
302.1
300.1
296. 1 282. 7
313.5
253.0
169.5
143.8
202.4 199.2
145.0
160.8
140.4
136.9
161.5
182. 1 202.6
147.4
155.8
200.1
78.5
Crude foodstuffs
- do
151.0
166.5
133.5
163.0
143.5
105.5
150.7 142.6
148.8
149.2
164.2
165. 4
77.3
168.6 .176.7
Manufactured foodstuffs and beverages. -dp
1312.7 332.3 343.0
339.0 343.1 311.1 340.1 333. 9
322.7
314.1
314.3 331.5 337.1
357.8 300. 1
Semimanufactures
do
611.3
533. 2
601.1 602.7
553.4
641.8
662.4
585.5
494.5
555.7
Finished manufactures
- -do
429.2
633.5 665.1 655.9 683.6
By principal commodities :
334.8 342.0
332.7
383.1 362.7
329.9 316. 1 318;6
316.7
295.4
341. 0
350.9 384.4 372.9
175.2
Agricultural products total?
- _do .
Cocoa (cacao) beans, incl. shells..
do
Coffee
do
Rubber, crude (incl. latex and guayule)— db
Sugar (cane or beet)
do
Wool and mohair, unmanufactured
do
NTonagricultural products, total9
.
do
11.3
79.7
16.4
50.9
18.8
do
__ _c!o
do
Indexes
Exports (U.S. mdse., excl. military grant-aid) : \
Quantity..™.....
,
.1967-69=100Value
co
Unit value
.
co .
Imports for consumption:
Quantity
—_
._ ..co
Value
.
_—_co
Unit value
co —
Shipping Weight ®nd Value
Waterborne trade:
Exports (incl. reexports):!
Shipping weight _ . ._
thous. sh. Ions
Value
...
mil. $
General imports:
Shipping weight
- . . thous. sh. tons
Value....
...
mil. $
Airborne trade:
Exports (incl. reexports):!
Shipping weight......——
thous. sh. lions. _
Value
mil $
General imports:
Shipping weight . ... ..thous. sh. lions.
Value
_
mil. $_
14.4
87.4
19.4
26.3
19.7
12.5
94.0
13.2
16.5
20.6
15.2
125.7
19.4
37.2
17.4
8.2
131.8
13.3
32.1
18.3
8.1
84.5
20.2
47.8
17.6
10.3
" 73. 2
13.9
38.9
14.1
8.5
84.7
17.1
49.7
16.0
12.8
77.7
18.1
33.9
14.1
9.2
90.8
16.4
50.0
17.1
11.2
106.7
13.7
44.6
12.4
11.8
116. 8
18.9
37.9
22.0
3.8
24.9
7.6
15.1
15.7
1,083.1 1, 209. 1 1,132.2 1, 026. 8 1, 184. 2 1,192.7 1, 103. 9 1, 260. 7 1, 296. 5 1,174.1 1, 226. 9 1, 292. 5 1,270.6 1, 347. 5
962. 9
Furs and manufactures
do __ ' i 10. 9
59.4
Iron and steel prod. (excl. adv. mfs.) — -do____
Nonferrous ores, metals, etc.:
9.5
Bauxite, crude*
do
Aluminum semimfs . (incl. calcined bauxl te) *
16.9
m:il. $__
*21.6
Copper, crude and semimfs.* — _ __ do
9.1
Tin, including ore
. do
Paper base stocks
Newsprint
Petroleum and products - ..
10.9
100.0
16.7
38.2
17.1
19.7
68.3
16.1
60.7
13.6
54.1
15.8
59.7
12.0
62.5
9.1
68.6
8.1
77.5
6.2
74.8
4.7
69.1
6.1
63.5
4.7
71.0
8.8
126.9
17.0
43.4
.15.9
4.7
89.0
15.4
69.4
12.6
10.2
12.1
10.5
9.6
11.2
9.5
12.2
8.8
10.0
12.9
12.3
9.1
10.2
9.6
16.6
28.4
9.3
17.1
26.1
9.8
.14.8
29.5
7.3
17.6
29.8
10.7
17.6'
26.1
7.8
17.8
23.7
7.6
18.9
26.6
7.9
20.5
25.4
10.2
13.7
, 20.7
• 14.1
21. 8
27.5
8.3
13.5
30.1
9.8
11.4 .
26.1
7.6
30.1
33.8
62.7
57.3
1 149. 1 1156.0
31.7
56.8
193.3
31.1
52.4
154.3
35.4
58.7
159. 5
31.9
61.2
156.7
30.4
59.6
137.1
34.9
65.2
144.8
32.3
64.8
165.4
35.2
61.8
152.3
35.3
64.2
147.0
35. 1
66.3
142.7
35.6
68.6
144.9
36.7
73.0
174.3
14. 5' ' 6.5
48.7
14.2
4.9
10.7
*>125
*>128
*102
*>142
*>146
pl03
P136
P139
*>102
»134
*>137
»102
P142
p'146
*>103
"143
P145
*>102
*>148
P151
*>102
p-137
P139
*>102
^138
P141
P102
127
130
103
P139
P143
P103
P150
P155
^104
p 144
P150
P104
P169
^175
P104
pl27
Pl22
i>96
j>135
*>133
*99
p 128
v 126
*>98
Pll6
pll"4
*>98
pl36
Pl35
p99
P134
P134
j>100
pl25
Pl23
p. 98
P137
P136
P99
pl41pl39
p99
131
128
P 137
P135
*99
P 143
pl41
p 144
p 142
29.1
53.1
184.8
p 150
p 148
13, 084
1,257.2
13, 167 12, 034 12, 673 13,415 15, 134 14, 191 r 14, 346 15, 300 14, 774
1,348.6 1,334.8 1,384.3 1,362.0 1, 489. 1 1, 299. 7 '1,365.5 1,268.4 1, 405. 0
17, 707
1,031.9
17, 697
1, 036. 8
16, 415
929. 9
16, 787
1,119.9
10.4
136. 5
11.9
150.3
11.9
157.2
12.9
150.9
12.9
153.5
12.9
149. 6
12.9
144.8
13.4
148.8
12.0
128.2
14.8
151.4
15. 8
169.7
13.9
140.2
4.7
67.9
4.3
70.4
4.0
70.7
4.7
79.4
4.6
76.0
3.9
66. 8
5.0
76.9
5.1
77.2
4.5
69.9
5.3
76.6
7.3
94.3
7.0
90.3
18, 025 18, 121 21,308 ' 22, 763 f-22,031 19, 962
1,120.5 1, 059. 7 1,146.9 ••1,183.9 '1,096.7 1, 134. 7
TRANSPORTATION
Air Carriers
Scheduled domestic trunk carriers:
Financial operations (qtrly. avg. or total):
Operating revenues, total 9. _
-—-nil. $__ 621.9
617.1
Transport, total 9 _„___.
— <lo
Passenger....—
<3o____ 557.0
40.3
Property
__
_<3o
U.S. mall..
.do—15.0
Operating expenses (incl. depredation)— do
585.5 _ _ _ _ _ _ _ _
Net income (after taxes)
_ _ _ . ...do
8.4
Operating results:
Miles flown (revenue)—.
...tlious. 63, 828 68, 506
Express and freight ton-miles flown _do_— 49, 195 60, 576
Mail ton-miles
flown
__
<!o___ 14,167 15, 390
Passengers originated (revenue) —
do
5, 158
4,548
Passenger-miles flown (revenue).—
mil.
3,048 3,490
Express Op©ra_i©n.!3
Transportation revenues.-.
.
... ...nil. $
Express privilege payments..
Jo
20.5
.576
347.5
-.—_..
66, 274
50, 710
14, 547
4,801
3,245
4
62 863
50, 212
14 051
4
4, 458
*2, 949
295.9
^28.6
. Local Transit Lines
Fares, average cash rate...—
cents
Passengers carried (revenue)...— .— .mil
Operating revenues (qtrly. avg. or total)
mil. $_.
* 640. 8
4640.8
4
579. 4
4
42.0
415.5
4 4613. 7
1LO
*67, 481
^54, 522
15, 488
4
5, 008
* 3, 316
710.9
704.6
637.7
45.2
15.7
622.2
39.1
4
4
65, 407 4 68
4
56, 472 4 59,
4
15, 091 414
4
5, 003 4 5,
4
3, 287
022
014
823
030
3, 322
96.8
27.1
21.2
572
20 8
*"584
20.8
552
20 8
585
• 341. 1
68 852
58,871
14 345
5 542
3,910
748 2
742 2
670 2
49 1
15 4
641.4
48 2
71 235
60^391
14 337
5 324
3,796
72 362
63,' 842
14 178
5*647
4,023
99.9
29 5
21 0
600
21 2
596
21 2
564
302.5
69 376
69' 009
14 734
5 214
3,530
________
71 735
72, 323
16 145
5' 509
3 610
67 518
60,756
14 626
5 030
3' 224
70 922
70, 782
22 319
5 338
3 668
91 d.
21 7
561
91 7
103 2
30 0
21 3
531
21 3
516
21 4
560
335 8
611
601
21 9
553
Motor
(Intercity)
Carriers of property, class I (qtrly. avg. or total):
3
Number of reporting carriers
1,004
Operating revenues, total. . ...
mil $ 1,446
Expenses, total
_.
j0
1,385
Freight carried (revenue)
mil tons
84
4
7
ii 1—-"••"!' *w.-njA/i ijr O.HV/W.LL uniaci CIUULC iJ.ia.iA5iJUMS, aieiu.uiu.ueu witii
™ ( m o n UFS h l y averages reflect this change beginning Jan. 1963). Beginning
t and rs
ImSSt H
^ - *?d Petroleui^ and products reflect further changes in USTS
2 Quarterly average.
s Number of carriers filing complete reports for 1963.
Reflects substitution of data for one or two intra-Alaskan carriers.
tSee similar note on p. S-21.
QSee similar note on p. S-21.
9 Includes data not shown
separately.
*New series. Data for periods not shown may be obtained from Bu. of Census
reports.
fRevised to exclude military grant-aid shipments; comparable earlier data will
be shown later.
.Excludes "special category" shipments and all commodities exported
under foreign-aid programs as Department of Defense controlled cargo.
fSee similar note
on p. S-21.
SURVEY OF CURRENT BUSINESS
S-24
Unless otherwise stated, statistics through 1962
and descriptive notes are shown in the 1963
edition of BUSINESS STATISTICS
1964
1963 | 1964
Monthly
average
March 1985
Jan.
Feb.
Mar.
Apr.
May
June
1965
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
3 3, 195
3589
2,376
2,118
3 2, 571
3518
Feb.
TRANSPORTATION AND COMMUNICATIONS—Continued
TRANSPORTATION— Continued
Motor Carriers (Intercity)— Continued
Freight carried, qtrly. index of volume, class I and
II ("ATA)
average same period, 1957-59=100 * 126. 3
Carriers of passengers, class I (qtrly. avg. or total):
2138
Number of reporting carriers
136. 4
Operating revenues total
mil $
116.4
56.6
Passengers carried (revenue)
mil
Class I Railroads
Freight carloadings (AAR):
Total cars
thous- Coal
do
Coke
— — do— —
Forest products
do
Grain and grain products
——
do
2,406
461
1
159
133.5
129.4
115.5
2,453
462
41
163
32
156
32,561
3523
334
219
147
72
3175
3282
13
234
.......do
135.4
160
14
Ore
128.6
137. 5
312
168
53
2,076
2,105
164.7
143.6
131 1
2,202
32,913
3542
393
34
154
407
35
151
212
186
177
*190
3208
8
10
10
312
403
28
157
364
365
60
56
66
54
114
53
345
3271
365
2,403
476
38
154
205
7
224
50
1,290
Freight carloadings, seas. adj. indexes (Fed. R.):f
Total
1957-59=100—
Coal
— do
Coke
do
Forest products
_dO--,.
Ore
— --
do
1,334
31,404
1,152
1,207
1,254
31,581
1,248
*93
95
88
96
102
52
84
36
95
496
95
113
100
96
49
97
27
98
97
91
89
99
111
50
89
31
101
97
89
90
106
104
51
93
31
100
94
90
92
103
93
50
88
28
98
95
93
100
99
92
42
123
28
97
96
100
111
102
89
42
104
29
99
94
100
118
98
91
46
85
27
96
Financial operations (qtrly. avg. or total):
Operating revenues, total 9
mil. $— 2,389.9
Freight
—
do..,. 2,036.5
Operating expenses
Tax accruals and rents
Net railway operating income
....—
do
-do
-do
2,362.4
2,033.8
134. 7
1,852.3
327.6
182.5
144 2
147.0
,862.9
325.6
201.4
162 9
Operating results:
Freight carried 1 mile (qtrly.)
2,114
293
35
147
3 2, 926
3578
348
2,396
461
41
151
357
197
3 198
3243
201
3196
3310
8
313
16
330
3264
223
48
1,163
95
100
128
102
75
50
87
28
98
3268
363
211
48
455
46
148
427
44
139
221
180
18
10
358
154
41
92
37
347
3178
3231
311
381
346
2,074
410
36
147
178
7
72
39
3 1, 514
1,267
3 1, 691
1,292
1,189
31,460
1,185
93
98
128
97
88
56
84
26
96
96
96
125
99
104
48
90
26
99
95
95
129
99
109
48
96
23
95
99
97
127
99
99
54
136
23
100
99
90
125
100
97
46
143
22
103
100
92
109
106
94
46
113
23
106
96
91
99
99
87
46
110
22
102
2, 486. 5
2,119.2
162.3
1, 937. 6
332.3
216.6
175.4
2, 481. 4
2,133.8
146. 3
,910.5
338.0
233.0
196. 4
162. 1
1 284
4,110
— bil. ton-miles,. « 158. 9
5 1 310
Passengers carried 1 mile, revenue (qtrly.)— mil, - «4,624
137 0
____
167.1
1.293
5,380
168.5
1 287
4,594
Waterway Traffic
Clearances, vessels In foreign trade:
Total U.S. ports
thous. net tons- 15, 628
United States vessels
_
Panama Canal:
Total
-In United States vessels
15,204
12 540
2,664
12 786
do.— 2,842
thous. Ig. tons.
...do
Travel
Hotels:
Average sale per occupied room
dollars—
Rooms occupied
% of total—
Restaurant sales index
same mo. 1961=100—
Foreign travel:
U.S. citizens: Arrivals
Departures
Aliens: Arrivals
.
Departures
Passports issued and renewed
National parks visits 1f
Pullman Co. (qtrly. avg. or total)":
Passenger-miles (revenue).
Passenger revenues
5,454
6,184
780
896
9.37
9.53
61
110
60
14,503
12 054
2,449
14,960
12 319
2,641
15,996
12,963
3,034
17,734
14,684
3,050
18,948
15 809
3,139
17,969
14, 836
3, 133
18, 232
14,982
3,250
17,092
14,092
3,000
18, 154
14, 902
3,252
5 832
6 187
6,269
5,912
6, 227
6,248
866
5,902
1,100
6,604
965
6,166
1,022
6,062
906
9.09
9.26
8.87
9.86
9.18
9.83
9.10
613
57
67
62
64
56
927
94
2 831
629
—.mil- -thous. $,. 10, 477
105
109
108
116
119
113
112
179
193
226
253
161
151
135
2,263
271
356
172
154
147
5,047
314
359
208
173
112
8,067
430
302
210
201
86
7,561
9,441
87
71
686
218
206
211
214
1fl9
19°.
148
88
81
790
101
121
1 000
104
147
1 276
555
65
930
10.24
70
6,156
847
6,645
830
&
57
110
112
103
288
238
218
174
74
3,287
238
195
5,706
5, 160
779
ftQ
112
102
53
654
74
564
191
578
556
608
867
9.85
107
173
172
109
218
216
130
110
88
2, 779
thous,.
do
do
do
do
do
59
60
877
1 10,457
ICfi
174
56
2 283
197
'50
1 061
95
476
7, 989
COMMUNICATIONS
Telephone carriers:
Operating revenues 9
Station revenues.
_
_.
mil.$__.
do
Operating expenses (before taxes).
___.do__ —
Net operating Income
do
Phones in service, end of year or mo
milTelegraph, cable, and radiotelegraph carriers:
Wire-telegraph:
Operating revenues
._thous.$__
Operating expenses, incl. depreciation
do
Net operating revenues..
_
do
Oeean-cable.-c?1
BR9 9
SQ9 1
OQQ a
nnq i
481.7
305 3
520.2
480.6
99.fi n
485.5
311 2
530.9
489.4
313 0
532.3
490.0
1 K4 Q
IRQ A.
74 9
001
465.4
OQQ 7
495.7
152.3
91 flQ4
-I
rjA
__
n
94 44Q
99 91 1
oo A
q ftfiK
Operating expenses, incl. depreciation— do__—
Net operating re venues..
____do
Radiotelegraph :cf
3
2
501.7
1 f\R ft
74. 1
OCO
982
oe -jof
94 87fi
21 020
21 715
2 (V7K
91 81 9
1 RQ7
3 106
2 98fi
3 012
9 4f\°.
94. *»
879
100
2 gi4
Af\*I
Oflf
9 984
no
47*5
C CAR
K
4 448
1 222
4 974
998
4 336
1 192
••Revised.
1 Annual index.
* Number of carriers filing complete reports for 1963.
3
4
Data cover 5 weeks; other periods, 4 weeks.
Based on unadjusted data.
8
Quarterly average. « see note "c?."
t Revisions for 1962 are in the Aug. 1963 SURVEY.
9 Includes data not shown.
74 Q
oq 900
K Qni
0
1 (• c n
fjf-t)
5 00-1
4 251
1 345
01 K 7
525.0
Hf
-I
912 3
494.6
318 9
531.3
IfiQ 9
7K q
917 0
492. 5
324 3
569. 1
150 2
75 6
915 3
492.1
324.3
529.8
167 3
75 9
921.3
497.0
322.6
539. 6
165 3
76 4
25 113
22* 170
1*840
25, 256
22, 089
2 106
94 7A8
99 181
I ftBK
26 020
22 799
1 OQR
25 092
23 304
o fton
01 7
qoo
3 172
3 227
2 5Q3
'341
2 885 6 3, 122
2*423 6 2 360
6 406
' 105
6 087
4 768
1 103
5 773 6 6 042
4 609 6 4 631
946 61,156
2
9* 9.P.1
427
c 774,
K QA1
4 379
1 167
4 598
1 152
498
? Beginning Jan. 1965, visits to Canyonlands Natl. Park are included; Jan. 1965,66,000 visits
d* Effective Sept. 1964, ocean-cable and radiotelegraph carriers have been classified by FCC
as "international" telegraph carriers; data have been adjusted insofar as possible to make
them comparable with those for earlier periods.
SURVEY OF CUERENT BUSINESS
March 1965
1963
Unless otherwise stated, statistics through (1962
and descriptive notes are shown in the 1963
edition of BUSINESS STATISTICS
1964
1964
Monthly
average
S-25
Jan.
Feb.
Mar.
Apr.
May
June
1965
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
CHEMICALS AND ALLIED PRODUCTS
CHEMICALS
Inorganic chemicals, production:
1,155
1,233
1,323
1,357
1,276
1,271 1,204
1,258
1,154
1,120
1,252
1, 374
1,390
1,378
1,408
Acetylene
mil. cu.ft
Ammonia, synthetic anhydrous (commercial)
556.8
thous. sh. tons.
636.8 659.7 636.7
630.0 614.8
620.2
614.1 589.3
650. 7
613.9
699.6
583.8
640.2
679.3
90. 2
85.0
100.6
91.9
116. 0
112.6
84.4
94.9 108.9
90.9
81.2
Carbon dioxide, liquid, gas, and solid _ _ _ _ _ c l o _ _ _
76.0
82.8
80.5
79.0
455. 3
491. 1 466 8
501.1
482.0 483.4
500 4
494.6
513 5
456 0
502 5
523,6
529 4
Chlorine, gas (100% Cb)
do
488 6 480.6
90.0
104.4
103.1
102.3
106.0 . 100.8
96.6
104.7
91.2
107.3
106.4
108.7
94.8
104.1
110.2
Hydrochloric acid (100% HC1)
do _
353. 6
384.1 402. 0
355.7 371.6
420.1
419. 5
445.2
402.6 420.5 375. 1 349.5 306.5 341.0
460.1
Nitric acid (100% HNOj)
_______.do___
10, 705 13,254 12, Oil 12 201 13 367 13, 107 13, 402 12,538 12, 741 13, 476 13, 264 14, 059 14 225 14, 652 15 080
Oxygen (high purity)
mil cu. ft
242.1
271.9
266.6 268.6 278.6 275. 3 272.6
284.1
267.9 273.5
Phosphoric acid (100% PsOs)
thous. sh. lions.
284.8 286.5 280.3 259. 5 248. 5
Sodium carbonate (soda ash), synthetic [58%
390.1
415.3 435.1 419.5
394. 4
408.9 428.6 428.3 394.0
412.6
381.2 394.5
431. 6
Na20)
_ _ •-. _ thous. sh. 1;ons_
419.1
402.6
11. 2
11.2
9.3
11.7
11.4
10.9
12.2
11.3
11.4
12.3
11. 4
10. 5
11.6
11.3
11.6
Sodium bichromate and chromate
do
484. 5
507. 3 534.4
518.3
490.2 484.2
503.7 508.9
537.0
517.3
557.0
514.3
Sodium hydroxide (100% NaOH)
.__. do_ _
539.7 525.2
568. 4
Sodium silicate (soluble silicate glass), anhydrous
45.9
53.7
44.5
41.4
36.4
44. 1
47.1
52.3
53.1
40.5
54.8
57. 1
thous. sh. 'Kms_
40.9
42.2
46.7
Sodium sulfates (anhydrous, refined; Glauber's
102.7
109.2
107.8
106.3
102.9
114.3
108.5
116.1
102.8
103.2
108.3
108.0
112. 1 ill. 2
salt- crude salt cake)
thous.sh.1ons.
115.5
1, 744. 7 1, 908. 0 1,868.4 1,853 7 1, 983. 5 2, 016. 2 1, 980. 9 1,859.1 1, 750. 2 1, 816. 2 1, 846. 7 1,957.0 1,927.3 '2,037.0 1, 984. 6
Sulfuric acid (100% H2SO4)
do
Organic chemicals, production :cf
87.4
Acetic acid (synthetic and natural)
mil. Ib
Acetic anhydride
<lo _ « 106. 0
2.4
A cetylsalicy lie acid (aspirin)
do_ _
8.2
Creosote oil
_ _ mil, gal__
92.8
116.2
2.4
39.6
92.3
111.8
2.8
8.2
94.0
101. 6
2.6
7.1
93.4
125.4
2.7
8.4
82.9
109.2
2.7
9.1
88.5
115.2
2.1
10.6
87.5
106. 5
2.5
9.8
96. 2
111.6
2.1
10.7
81.9
116.9
1.9
8.4
89.4
123. 4
2.2
10.0
94.9 ' 112. 6
118. 3
118. 9
2.2
2.5
10.6
9.7
100. 0
135. 8
2.5
12.0
14.9 310.3
DDT
mil. Ib
89.8
8.7
Ethyl acetate (85%)
io
8138.3 3 149. 5
Ethylene glycol
Io_ _ 3
211. 4 3229.4
Formaldehyde (37% HCHO) _ _ _ _ _ _ _ ._ _ _ d o _ _ _
Glycerin, refined, all grades:
25.3
26.4
Production
.-do
24.3
Stocks, end of month
do
28.6
Methanol:
.1
.1
Natural
mil. gal-29. 3
32.7
Synthetic
.-- do __
»38.2
46.3
Phthalic anhydride
m il. Ib
ALCOHOL
Ethyl alcohol and spirits:
57.0
57.7
Production
mil. tac gal
186.7
171.5
Stocks, end of month
do
45.9
44. 4
Used for denaturation
do
56
5.3
Taxable withdrawals._do____
Denatured alcohol:
24.7
23.9
Production
_ . . mil. wine gal
24.7
24.0
Consumption (withdrawals)
do
3.5
3.0
Stocks, end of month
do
FERTILIZERS
798
625
Exports, total 9
thous. sh tons
66
55
Nitrogenous materials
.
do
595
'488
Phosphate materials
do
86
59
Potash materials _
do
11.4
8.8
121.8
207. 0
12 8
10.8
109.1
203. 0
13 3
9.4
138.8
219. 5
11.3
7.4
129. 3
237.7
13.0
8.0
116.9
225.2
12.1
11.9
155.3
229.5
11.0
5.5
154.1
207.8
8.7
10.5
147.4
236. 5
7.3
156.3
235. 1
6.4
169.3
252.9
11.1
150.7
238. 6
7.5
161.4
247.3
234.4
29.1
22.3
26.3
25. 4
28.5
27.6
28.5
26.5
23.7
27.7
28.0
31.5
22.9
32.0
26.5
32.3
26.2
31.2
25.3
29. 6
26.3
30.1
26.2
27.6
31. 8
32.6
.1
29.6
37.4
.1
29.9
36.7
.1
30.3
44.9
.1
33.9
49.2
.1
34.4
49.9
.1
31.1
48.5
.1
32.8
44.8
.1
32.2
41.1
.1
31.9
49.9
.1
34.1
56.5
.1
34.0
47.3
.1
37.7
49.2
.1
36.1
46.9
60.5
179. 5
49.5
56 1
183. 0
44.0
53.8
188.9
43.9
54.0
189.3
46.7
53.3
184.9
45.3
5.5
50.3
183.4
44.8
5.6
51.8
187.0
45.7
5.0
55.1
190.0
47.0
4.7
60.2
188. 6
45.9
6.2
69.2
184. 3
44.8
7.8
60.7
188.7
47.1
6. 7
59.7
192.9
46.3
5.5
26.6
26.4
o o
23.7
23 1
3.7
23.9
24.7
2.9
25.1
24.8
3.1
23.8
23.5
3.4
24.2
24.4
3.6
24.7
25.3
2.9
25. 4
24.8
3.4
24.7
23.1
4.?
24.5
25 6
34
25.4
24.7
4.0
24.9
25.5
3.4
622
28
458
100
668
39
534
59
704
68
495
94
584
55
468
33
684
63
529
50
827
47
660
60
779
39
592
75
948
63
691
105
936
101
659
108
1 044
117
817
91
744
44
522
122
1 038
135
721
129
Imports, total semimanufactures* 9
Ammonium nitrate
Ammonium sulfate
Potassium chloride
Sodium nitrate
205
21
20
73
34
255
20
14
117
32
253
16
29
93
30
292
17
36
126
22
376
19
43
150
63
173
17
11
65
22
180
11
7
34
50
124
14
4
42
18
224
21
7
117
23
227
20
12
104
25
219
19
14
116
25
239
16
16
119
24
237
12
14
112
30
257
374
233
369
424
254
66
151
355
189
296
181
298
381
304
452
327
443
336
383
337
249
307
249
272
349
247
408
269
422
268
400
307
374
r 3QQ
r 295
411
M32
10 7
3.4
196
269
419
Potash deliveries (KiO)
•___
do
Superphosphate and other phosphatic fertilizers
(100%P205):
Production
thous sh tons
Stocks, end of month
do
233
17
15
100
30
227
_ _ _ _ do____
do
do
do
do
120.0
2.4
11
23
99
26
293
399
MISCELLANEOUS PRODUCTS
Explosives (industrial), shipments, quarterly:
Black blasting powder
. thous. lb_.
High explosives
do._
Paints, varnish, and lacquer, factory shipments:
Total shipments .._
mil $
Trade products
do
Industrial
finishes
^ do
Sulfur, native (Frasch) and recovered:©
Production
_,_
thous. Ig. tons__
Stocks (producers'), end of month. . _ __. do
PLASTICS AND RESIN MATERIALS
Production:
C ellulose plastic materials _ _
_ _ _ i oil . Ib
Thermosetting resins:
Alkyd resins
_
.._do_
Coumarone-indene and petroleum polymer
resins
__.___.._
mil. lb__
Polyester resins...
do
Phenolic and other tar acid resins
_,._do_ _
Urea and melamlne resins
do...
Thermoplastic resins:
Styrene-type plastic materials (polystyrene)
mil.lb__
Vinyl resins (resin content basis)
do
Polyethylene __.__..
do
1
1236
i 284
301,665 320,403
2
141
262, 470
321
337 431
289
347 691
2
2
157.5
93.8
63.7
166.8
97.8
69.1
138.8
75 5
63.3
142. 5
80.6
61.9
165.2
97.1
68.1
186.0
112.2
73.8
188 5
115 0
73.5
197 8
119 5
78 3
183 1
115 6
67 5
181 3
111 5
69 8
176 4
104 2
72 2
163 1
95 3
67 8
145 8
80 7
65 1
133 7
66 2
67 5
141 3
74 7
66 6
3486
4,875
519
4,585
500
4,780
499
4,786
499
4, 720
513
4,686
531
4,676
505
4,614
515
4 501
533
4 483
510
4 445
476
4 360
553
4 562
596
4 403
610
4 476
13.4
11.6
13.0
15.2
13.9
12.4
13.7
11.3
12.1
14.6
13 6
14.8
14.2
3 50. 5
345.4
44.4
44.0
48.5
49.0
48.0
49.8
45 5
49 2
45 5
45 7
38 2
39 0
329.5
321.2
61. 7
43. 2
328.3
3
25. 7
367.8
343.9
26.0
22.7
66.3
42.8
25.0
23.9
64.0
39.6
27.6
25. 4
72.6
43.1
29.8
27.2
71.5
45.9
26.2
27.0
67.3
43.4
27.7
26.7
65.5
43.1
27.5
23 3
53.8
37.4
25.3
25 8
70.4
44.1
34. 4
26 8
70.4
47.1
32.0
28 4
75 1
49.1
27.2
25 1
68 0
' 44. 2
25.3
25 9
69.0
45.3
3124.5 3144.8
3
3146.7 3 169. 5
3 189. 2
217. 1
132.3
150.5
210.8
136.6
158. 3
208.7
146. 3
173.3
210.1
144.7
174.4
217.8
149.7
176. 7
226 6
147. 5
170.9
215 9
129. 2
156 8
216 8
144.8
177 9
221 0
143. 4
171 4
227 3
150.1
190 4
215 0
155.1
174 5
216 8
158.0
178 4
223 8
12.7
3
3
r
Revised. 1 Quarterly average.
2 Beginning Jan. 1963, the estimated totals are based
on a new and larger sample and reflect impioved estimating methods, which affect comparability with data for earlier periods; Oct.-Ddc. 1962 estimated totals on the new basis appear
on p. S-25 of the Feb. 1964 SURVEY.
3 Based on annual total containing revisions not
distributed by months.
195
334, 018
c^Data are reported on the basis of 100% content of the specified material unless otherwise
indicated.
9 Includes data not shown separately.
*New series. Data exclude some materials (chiefly crudes) shown in the former series.
Monthly data prior to Jan. 1963 may be obtained from Bu. of Census reports.
©Monthly data for 1952-62 (1962 revised) appear on p. 28 of the Dec. 1964 SURVEY; production for Aug. 1957 should read 517,000 long tons.
SURVEY OF CURRENT BUSINESS
S-26
Unless otherwise stated, statistics through 1962
and descriptive notes are shown in the 1963
edition of BUSINESS STATISTICS
1963
| 1964
Monthly
average
March 1965
1964
Jan.
Feb.
Mar.
Apr.
May
June
1965
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
196,621
187,979
170,729
117,250
Feb.
ELECTRIC POWER AND GAS
ELECTRIC POWER
Production (utility and Industrial) , total O
mil.kw.-hr.. '84,007
r
76, 177
••62,393
'13,784
89,900
81, 646
66, 986
14, 660
90, 642
82, 328
67, 834
14, 495
84, 613
76, 701
62, 906
13, 795
87, 987
79, 595
63,652
15, 942
84,534
76, 392
60,092
16,301
87, 226
78, 894
63, 031
15, 863
90,585 95,724
82, 294 87,606
68, 341 73, 343
13, 953 14,263
94, 949
86, 647
72, 763
13, 884
89, 465
81,376
68, 319
13,057
89,382
80,941
66,907
14, 034
87, 976
79, 753
65, 600
14, 153
95, 713
87, 222
71, 046
16, 176
'62,096
'14,081
66, 942
14, 703
67,024
15, 304
62, 143
14,558
64, 596
14, 999
62, 204
14, 188
64, 155
14, 739
67, 960
14,334
72, 645
14, 961
71,588
15, 059
67,340
14, 036
66, 667
14, 274
65, 530
14, 223
71,455 171,187
15, 767 1 16, 792
do.... ' 7, 830 8,254
' 7, 567 7,989
265
'263
8,313
8,019
294
7,912
7,621
291
8,392
8,075
317
8,142
7,807
335
8,332
8,027
305
8,292
8,045
246
8, 118
7,892
226
8,302
8,084
218
8,089
7,872
217
8,441
8, 197
245
8,224
8,003
221
8,491 18,642
8,227 i 8, 364
264
1278
69, 234
74, 196
75, 196
72,724
72, 692
71, 549
71, 065
72, 775
75,827
78,514
77, 433
73,925
72, 557
76, 100
13,876
32,367
15, 267
34, 113
14, 165
32,993
14,061 14,121
32,330 33, 330
14,034
33, 643
14,327
34, 459
15, 551
34, 675
17, 194
33,749
17,781
34, 829
17, 133
35, 080
15, 496
34,749
14, 339
34, 718
15, 001
34, 802
389
20, 141
646
1,683
133
393
21, 834
691
1, 749
149
439
24,932
780
1,769
118
436
23, 295
711
1,774
118
409
22,301
693
1,707
130
384
20,982
641
1, 721
143
366
368
19,431 19,639
589
613
1,780
1,712
174
156
359
21, 972
599
1,779
174
357
22, 966
638
1,774
169
367
22,323
680
1,690
160
377
20,648
734
1,767
155
425
20,413
789
1,724
148
432
23, 110
822
1,790
144
Privately and municipally owned utiL — do
Other producers (publicly owned)
-do
Industrial establishments, total
Sales to ultimate customers, total (EEI)
Commercial and industrial:
Qrrsal1 Htrhfr QTi<1 fWOTPrS
.do
dO -
T?oetr1f»ntia1 <YT flrtTTIP^tlP
dO_---
AfVi/ir rmM1/» QiitVir»r1t"lM
dO . .
..
Revenue from sales to ultimate customers (Edison
Electric Institute)
mil. $.. 1, 141. 4 1, 200. 7 1, 217. 2 1, 184. 5 1, 169. 0 1, 153. 0 1, 145. 9 1,178.5 1,236.5 1,272.4 1, 256. 9 1, 201. 6 1, 171. 3 1, 221. 4
GAS
Manufactured and mixed gas (quarterly) :c?t
Customers, end of quarter, total?
thous—
1,540
1, 439
99
1,197
1,112
84
1,162
1,081
80
792
739
52
do -
Industrial and commercial
495
336
155
667
480
184
369
217
150
156
68
88
mil.$—
do
do__.-
59.0
44.3
14.4
75.3
57.0
17.9
42.4
29.4
12.8
16.6
9.9
6.7
thous-- 33, 940
do - 31, 207
2,695
do
35, 104
32, 201
2, 866^
34, 999
32, 163
2,797
35,338
32,516
2,783
26, 412
mil therms
8,828
do
do__— 16,279
37, 972
17, 093
19, 082
26, 699
7,851
17, 378
21, 263
3,160
16, 673
2,533.0
1, 563. 0
907.2
1, 579. 9
819.6
712.3
1, 081. 9
425. 1
613.3
-
Resldential
Revenue from sales to consumers, total?
Residential
Industrial and commercial
Natural gas (quarterly) reft
Customers, end of quarter, total 9
Residential
Industrial and commercial
Sales to consumers total 9
Residential
Industrial and commercial
-
do__~
Revenue from sales to consumers, total 9 mil. $
Residential
do '
Industrial and commercial
do
1,620.6
886.2
689.0
_...___.
FOOD AND KINDRED PRODUCTS; TOBACCO
ALCOHOLIC BEVERAGES
Beer:
8 39
Production
mil bbl
7.82
Taxable withdrawals
• .
do
Stocks, end of month
do
10 76
Distilled spirits (total):
12 50
Production
mil tax gal
Consumption, apparent, for beverage purposes
21 58
mil wine gal
10 35
Taxable withdrawals
mil tax gal
Stocks, end of month
do
876. 90
3 82
Imports
mil proof gal
Whisky:
8.74
Production. _ _ ^ _ _
_
mil tax gal
Taxable withdrawals..
do .
7.08
Stocks, end of month.
_ _ _ _ do ~ 852.54
Imports
-_. __
mil proof gal
3.35
Rectified spirits and wines, production, total
7.24
mil. proof gal-Whisky
_.
do
5.19
Wines and distilling materials:
Effervescent wines:
.40
Production
—
mil. wine gal
Taxable withdrawals
do
.35
Stocks, end of month
do —
3.00
Imports
.
do
09
Still wines:
Production
.
—_
do
16 86
Taxable withdrawals.
„__.
do . 13.11
Stocks, end of month
_ .do .. 185. 03
Imports.
.
do
1 11
Distilling materials produced at wineries_..do
39.41
8 82
8.22
11.07
7 63
6.74
10.08
7 50
10.68
13 58
13 89
6.42
8 95
7.80
11.30
9 28
8.73
11.77
10 31
9.48
11.93
11.54
10.92
11. 77
9 88
9.40
11.56
8 40
8.27
11.13
7 73
7. 65
10.68
6.95
7.03
10.13
17 07
8 10
7.71
9.99
13 51
14 06
14 51
13.38
12 79
8.65
9.13
16.07
00 ' 18 46 18 43
9 34
10
9 53
76 871 77 873 19
3 07
22
3 03
21 84
10 51
874. 44
3 62
21 08
11 46
874. 54
3.84
22 27
10.91
874. 27
3.71
22 03
10 98
873. 92
4.16
20 94
9.51
871.04
3 27
20 72
10.62
866. 18
3.58
22
12
863.
4
02
04
74
69
26
14
860.
5
18
79
08
86
27 84
13.30
859. 49
6 07
34 24
10. 16
862. 42
' 5.70
9
7
841.
3
41
45
75
40
10.36
10 38
10 27
7.05
6.46
6 73
844. 01 854. 14 846. 10
1 57
3.23
1 77
10.95
7.50
846. 91
3.42
9.44
8 46
7.05
6.56
846. 76 846. 81
3.71
1 48
5.03
5.72
844.27
2 85
5.41
6.68
839. 97
3. 07
9.69
8.41
837. 21
4 00
11
10
832.
5
06
85
56
19
10. 40
9.60
830.05
5 46
11.42
6.83
832. 18
' 5.07
7.75
6.54
10.73
15.53
23
11
868
4
14.36
7 68
5 46
6.35
4 33
6 27
4 51
7.24
5 18
7.85
5 68
7.38
5 16
7 27
4 92
6.35
4 33
6.69
4 58
8.42
6 10
10 95
8 26
9.74
7 24
48
45
3. 17
10
43
.34
2.71
06
48
27
2.88
06
.63
.34
3.14
.08
.53
.33
3.31
08
38
.36
3.30
09
68
43
3.49
09
27
28
3.46
07
.42
.35
3.49
07
43
50
3.38
09
59
67
3.25
16
50
72
3.00
20
50
75
2.66
13
16 10
13 73
188. 82
1 21
2 73
13 57
213.89
79
2 97
13 76
201. 61
1 57
3 40
15 96
185. 83
1 10
2 19
13.80
175. 68
.90
1 84
1 92
85
12 86
10 42
13 25
164. 18 150. 88 139. 42
1 21
1 16
1 02
3 12
12 27
130. 04
1 09
59 12
13 84
177! 81
91
95 09 r 13 27
15 01
15 38
251 82 243. 53
1 39
1 86
6 68
14 66
231.23
8.38
6.15
19.21
3.12
2.76
7.65
5 19
30.59
5.10
' Revised.
1 Beginning Jan. 1965, data include Alaska and Hawaii.
©Revisions for Jan.-Dec. 1962 appear on p. 24 of the Mar 1964 SURVEY- those for the
months of 1963 will be shown later.
IBata are not wholly comparable on year to year basis because of changes from one size
classification to another.
9 63
8.49
11.82
1.79
1.51
.86
1.40
9.84
132. 38 '146 22
' 35. 19
r 1 54
06
51
18.26
d*The averages shown for gas are quarterly averages.
^Revised data for 1st and 2d qtrs. of 1962 appear in the Sept. 1963 SURVEY; those for 1st and
2d qtrs. of 1963 will be shown later.
9 Includes data not shown separately.
SURVEY OF CURRENT BUSINESS
March 1 6
95
Unless otherwise stated, statistics through 1962
and descriptive notes are shown in the 1963
edition of BUSINESS STATISTICS
!
1964
1963 | 1964
Monthly
average
S-27
Jan.
Feb.
Mar.
Apr.
May
June
1965
July
Sept.
Aug.
Oct.
Nov.
Dec.
Jan.
Feb.
FOOD AND KINDRED PRODUCTS; TOBACCO—Continued
DAIRY PRODUCTS
Butter, creamery:
Production (factory) J
Stocks cold storage end of month
Price, wholesale, 92-score (N.Y.)._
Production (factory), total? _
American whole milkt
__ _
Stocks cold storage end of month, total
American whole milk
mil.lb__
do
-$ per lb-
118.3
328.4
.590
119.5
180.0
.599
128.8
187.1
.587
123.5
191.2
.587
139.4
191.0
.586
142.7
195.7
.586
153.5
203.5
.587
142.9
234.9
.587
110.7
243.7
.591
95.8
221.2
.604
86.4
180.9
.623
95.0
149.0
.616
96.1
95.3
.629
119.4
66. 5
.604
129.&7
'63.1
.587
mil. Ib—
^io
136.0
92. 4
141.9
96.7
125.9
82.4
124.0
81.4
145.8
96.5
152.0
106.5
176.4
128.3
175. 3
128.1
151.0
108.7
140.8
97.7
128.9
86.7
128.5
83.6
122.3
76.9
132.1
83.6
130.9
86 9
co __
co
385.0
344.9
6.9
344.6
302. 6
6.5
318.1
279.2
6.6
301. 6
263.7
4.6
301.7
264.0
8.5
323.1
284.0
6.4
352.2
309.7
7.0
381.8
339.2
5.4
398.6
353.1
3.6
388.6
341.1
4.6
363.5
318. 6
6.9
345.1
302.5
6.6
335.2
292.8
9.3
326 0
283 6
'8.6
'311 8
'271 4
1.5
296 7
257 9
434.
.430
.430
.422
.420
.420
.421
.428
.431
.446
.451
.451
.455
.450
.444
7.9
157. 3
6.0
140.3
5.6
141.5
6.7
150.0
10.7
160.8
10.0
208.5
7.2
202.0
8.3
184.0
8.8
174. 0
68
151.0
7.8
132.5
66
115 5
10 5
127 8
93
121 0
8.5
173.9
5.9
96.8
6.1
82.6
7.3
69.7
9.1
82.6
10.0
147.6
9.6
208.2
9.4
249.7
9.9
286.3
9.6
231.1
10.3
227. 3
83
219 5
69
185 3
73
154 5
5.2
3.1
3.3
2.5
3.0
3.1
3. 4
2.4
5.2
3.0
8.6
2.7
5.4
3.0
5.4
3.3
6.8
3.1
3.9
5.3
4.6
59
68
19
6.5
13
Price, wholesale, American, single daisies (Chicago)
~$ perlb.. .426
Condensed and evaporated milk:
Production, case goods:?
6.6
Condensed (sweetened)
mf . Ib
158.1
Evaporated (unsweetened)
do __
Stocks, manufacturers' , case goods, end of me . :
6.6
Condensed (sweetened)
mi1 . Ib
162. 9
Evaporated (unsweetened)
do
Exports:
'4.7
Condensed (sweetened)
do
'5.4
Evaporated (unsweetened)
_ _
do
Price, manufacturers' average selling:
6.01
Evaporated (unsweetened)
$per 3ase__
Fluid milk:
10, 417
Production on farms
- mil. lb__
5,099
Utilization in mfd dairy productsc?
do _
4.10
Price wholesale TJ S average
$ per 100 Ib
Dry milk:
Production:?
7.6
Dry whole milk
mil. Ib
174.7
Nonfat dry milk (human food)
._ __<lo
Stocks, manufacturers', end of month:
5.7
Dry whole milk
- _(|f lo_
95.0
Nonfat dry milk (human food)
lo
ExDorts:
2.5
Dry whole milk
__'io
44,6
Nonfat dry milk (human food)..—.
3o
Price, manufacturers' average selling, nonfat dry
.144
milk (human food)
_ _ _ _ _ _ $ purlb__
GRAIN AND GRAIN PRODUCTS
Exports (barley, corn, oats, rye, wheat)., .mil. bu_. 103.4
Barley:
Production (crop estimate)
- .
do
Stocks (domestic), end of quarter, total. _ do
On farms
-»_„
-do
Off farms
. . . .
do..
Exports, including malt$
—do.
Prices, wholesale (Minneapolis) :
No 2 malting
$perbu__
No 3, straight
—
do
Corn:
Production (crop estimate, grain only) mil. bu
Qrindlngs wet process
do
1405.6
2285.9
2 166.9
2119.0
4.8
5.99
6,00
5.98
5.98
5.96
5.94
5.93
5.93
5,93
6.00
6,08
6 09
6.09
6 09
10, 550
5,221
4.17
10, 148
4,922
4.34
9, 937
4,917
4.25
11, 099
5,655
4.12
11,383
5,904
3.94
12,356
6,613
3.82
11,820
6, 528
3.78
10, 874
5,620
3.94
10, 235
5 012
4.10
9,636
4 370
4.28
9,700
4 291
4 50
9 419
4 112
4 54
9,991
4 704
4 48
10 342
5 015
'4 37
7.6
179. 1
7.6
176.9
6.6
181. 0
7.3
206.7
7.8
217.7
7.4
250.2
6.6
235.6
6.8
181.5
7.5
148.1
8.0
121. 7
93
125.5
81
133 3
84
171 3
86
186 2
6.4
104.3
'6.2
'81.8
5.8
86.1
6.6
97.6
7.5
104.6
7.1
130.6
6.4
128.6
6.2
127.3
5.9
114.4
6.0
94.7
63
87.4
6"0
92 5
7 0
106.7
7 6
117 4
1.6
69.5
2.1
27.4
.8
37.9
.8
88.6
1.1
61.0
1.3
119.4
.6
107.1
2.4
93.5
.9
65.5
6.1
65.1
§
51.5
7
66.9
11
49.7
. 146
.146
.146
.146
.146
.146
. 146
.143
.146
.148
.148
.146
.146
123.8
112. 5
123.4
126.6
129.8
96.8
91.8
99.7
115.4
'116.6
'134.2
71.9
.587
' 154. 6
118.8
i 403. 1
2271.7
2161.0
2 110. 7
6.1
3
133.9
3
60. 9
3
9 796
4 28
.145
5.5
6.7
233.4
131.6
101.8
2.9
5.0
12.6
73.0
7.7
2.0
3.4
409. 6
260.9
148 7
60
10 2
76
309 7
190 4
119 3
4 3
1.21
1.13
1.18
1.10
1.16
1.09
1.18
1.10
1.22
1.14
1.23
1.16
1.19
1.11
1.18
1.08
1 16
1.06
1.23
1.17
1 26
1 19
1 25
1 20
1 25
1 19
1 27
1 21
1 31
1 25
14,092 13,549
15.4
16.1
15.9
U. 9
17.4
16.5
17 2
17 0
15 2
15 7
15 9
16 6
15 6
14 7
Ifi 7
15 9
46.8
33.5
3,267
2,257
1,010
33.5
42.4
35.4
2,344
1,481
863
28.0
32.8
42.9
1, 510
3
655
3855
39.5
44.3
57 4
3,922
2,784
1,138
45.0
1.22
1.20
1.19
1.18
1.21
1.21
1.24
1.24
1 28
1.27
1 26
1.24
1 22
1.21
1 25
1.23
1 26
1.25
1 91
1 17
1.20
1 00
1. 28
1 9Q
1.24
1.19
1.11
Stocks (domestic), end of quarter, total
mil. bu_. 2 2,720 2 2, 761
2 1,786 2 1, 794
On farms—
_.._—.
...do
3
2
934
966
Off farms.
_
do
40.1
36.6
Exports, including meal and flour ....do
Prices, wholesale:
1.24
1.23
No 3, yellow (Chicago)
$ pur bu
1.20
1.23
Weighted avg., 5 markets, all grades
do
3
1.22
1 94.
1.25.
Oats:
Production (crop estimate)
nail. bu__
Stocks (domestic), end of quarter, total _ _ . do
On farms
'.
do
Off farms. _.
.,do—
i 979
1882
2545
276
2 519
286
Exports, Including oatmeal
„ ,.do
Price, wholesale, No. 2, white (Chicago) f
Iperbu—
.9
.9
.2
.2
.1
.3
.7
.9
.6
1.0
1.1
'2.1
'1.8
.73
.70
.75
.71
.68
.68
.66
.66
.65
.68
.71
.71
.72
.77
.78
.72
206
89
138
187
141
82
163
184
103
109
66
42
62
55
68
42
44
53
361
76
83
56
87
49
121
58
186
182
161
Rice:
Production (crop estimate)
....mil. bf«s9.__
California mills:
Receipts, domestic, rough...
.mil. lb__
Shipments from mills, milled rice
do
Stocks, rough and cleaned (cleaned basis), end
of month
_
——.mil. lb._
Southern States mills (Ark., La., Tenn., Tsx.):
Receipts, rough, from producers
— .mil. Ib—
Shipments from mills, milled rice..do
Stocks, domestic, rough and cleaned (cleaned
basis), end of month
.mil. Ib—
Exports
^_
do
Price, wholesale, Nato, No. 2 (N.O.)
$ per Ib—
170.3
122
85
517
445
72
873
753
120
712
624
88
'1.6
i 73. 1
127
85
132
123
232
143
170
105
69
74
56
54
28
183
180
185
210
438
270
462
447
329
379
192
386
123
555
148
494
71
428
58
355
135
306
717
395
1,348
553
1,758
653
407
531
258
329
306
512
997
220
.093
1,044
248
.086
1,447
314
.088
1,197
419
.088
931
356
.088
746
400
.088
531
265
. 088
372
237
.088
296
122
.088
559
79
.088
1, 122
1,844
1,818
1, 970
670
1,615
.083
.083
Rye:
Production (crop estimate)
mil. bu.. 129.2 i 33. 5 __
_
Stocks (domestic), end of quarter, total.... .do— 215.0 216.7
1.48
Price, wholesale, No. 2 (Minneapolis). __$ per bu._
1.30
1.28
1.38
1.34
' Revised.
*> Preliminary. 2
i Crop estimate for the year.
Quarterly average.
s Old crop only; new crop not reported until beginning of new crop year (July for barley,
oats, rye, and wheat; Oct. for corn).
IRevisions are available upon request as iollows: Jan. 1961-June 1962 and Jan.-May 1963
for cheese and nonfat dry milk; Jan-June 1952 and Jan.-May 1963 for butter and condensed,
evaporated, and dry whole milk.
3 315
3
252
3
63
.—
1C A
.083
9fifi
.083
1 K.A.
. 083
.
29 7
1.28
1.19
1.20
1.27
1.21
1.25
cf Revised series; data reflect inclusion of creamed cottage <d
(formerly excluded). Revisions for 1946 and 1952-58 (former
series) appear on p. 24 of the Mar. 1964 SURVEY.
§ Excludes a small amount of pearl barley.
t Revised series (for No. 2; formerly, for No. 3).
9 Bags of 100 Ib.
1.32
1.29
21 0
1.21
1.18
1.17
and frozen products
and 1958-62 (revised
SURVEY OF CURRENT BUSINESS
S-28
Unless otherwise stated, statistics through 1962
and descriptive notes are shown in the 1963
edition of BUSINESS STATISTICS
1963
1964
Monthly
average
March 1965
1964
Jan.
Feb.
Mar.
Apr.
May
June
1965
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
FOOD AND KINDRED PRODUCTS; TOBACCO—Continued
GRAIN AND GRAIN PRODUCTS— Con.
Wheat:
Production (crop estimate), total
Soring wheat
^Vinter wheat
Distribution (Quarterly total)
mil. bu__ i 1, 142 11,290
1234
1266
do
1908 1 1, 025
do
2366
2337
do
410
305
380
369
1,206
153
1,052
2
3901
3 75
3826
1,812
506
1,306
1, 443
390
1,052
do
21,311
1, 340
2281
2
1, 059
do
^^
59.7
53.3
68.4
62.2
470.5
66.0
71.5
65.6
86.6
81.5
78.0
70.7
79.5
72.1
60.0
54.8
56.3
52.8
52.3
44.6
66.5
60.4
59.9
51.5
67.4
61.9
71.7
64.8
2.06
1.86
1. 92
2.37
2.24
2.31
2.32
2.23
2.27
2.25
2.17
2.19
2.34
2.26
2.26
2.35
2.13
2.26
2.38
1.53
1.58
1.70
1.55
1.59
1.74
1.58
1.69
1.80
1.63
1. 72
1.84
1.66
1.75
1.84
1. 68
1.75
1.82
1.65
1.71
23,519 21, 218
96.8
97.5
390
433
53, 494 47,872
21, 956
90.0
406
49, 646
22, 241
91.2
411
50,226
21,961
94.3
409
49, 897
27, 057
111.0
507
61,557
14, 953
58.7
283
34,215
20, 818
89.6
390
47, 324
23,305
99.3
435
52, 968
25,017
101. 9
462
56, 460
22, 407
100.4
416
50,765
21,104
85.7
396
47, 910
2, 347
5,068
2,956
Stocks (domestic), end of quarter, total... .do
Off farms
Exoorts total including
WTieatonlv
flour
21,564
2253
Prices wholesale:
No 1 ,dark northern spring (Minneapolis)
2.42
$ perbu..
2.20
No 2,hd. and dk.hd. winter (Kans. City)-do
2. 33
Weighted a vg., 6 markets, all grades
do____
Wheat flour:
Production:
,
Flour
thous. sacks (100 lb.)__ 21, 991
92.6
Opera tions, percent of capacity... —
407
Offal
thous. sn. tons. _
49, 976
Grindlngs of wheat
-..thous. bu__
Stocks held by mills, end of quarter
thous. sacks (100 lb.)_. 2 4, 710
2, 808
Prices , wholesale:
Spring, standard patent (Minneapolis)
$perl001b__ 5.639
5.365
Winter hard 95% patent (Kans City) do
22, 130
93.0
412
50, 194
1.80
1.63
1.70
1.80
1.61
1.69
5,276
2,629
1, 912
2,527
5 843
2,183
3,127
3,191
5,354
2,249
1,540
3,289
4, 840
2,620
3, 606
5.652
5. 390
•5. 538
5.250
5.563
5.300
5.313
5. 150
5.600
5.400
5.478
5.250
5.783
5. 333
5.983
5. 643
5.765
5.510
5.673
5.487
5.735
5.493
385
2,162
1,201
359
384
2,125
1, 228
588
453
2,199
1, 301
861
514
2,359
1,619
1,286
442
2, 111
1, 528
1,309
449
2,254
1,245
527
404
2, 166
1,207
428
965
23.15
18.81
23.00
24.94
19.30
22. 50
25. 82
19. 79
25. 00
24.88
19.33
20.00
24. 42
19.18
24.50
23.83
23.76
19.88
18.80
* 28.48
25.00
23.50
19.85
4,928
1,405
4, 841
1,294
5,630
1,506
6,804
1,860
6,546
1,750
6,648
1,766
6,047
1,527
1,294
' 5. 773 5.623 v 5,612
' 5. 477 5. 387 P 5.387
LIVESTOCK
Cattle and calves:
Slaughter (federally inspected) :
Calves
.thous. animals..
Cattle
do
Receipts (salable) at 27 public markets
do....
Shipments, feeder, to 8 corn-belt States
do
Prices, wholesale:
Beef steers (Chicago)
__ SperlOOlb
Steers, stockerand feeder (Kansas City)__do
Calves vsalers (Natl Stockyards 111 ) do
378
1,805
1,173
551
402
2,094
1,231
591
412
2,013
1,189
525
342
1,710
969
319
400
1, 878
1,141
384
379
2,045
1,139
355
321
2,070
1,082
322
338
2,207
1, 257
260
23.79
22. 95
30.00
22.86
19.79
26.21
22. 38
21. 17
31.50
21.18
21.57
34.00
21.38
21.42
31.50
21. 03
20.91
26.50
20.29
19. 24
27.50
21.37
18.92
23.50
Slaughter (federally inspected)
thous animals
Receipt55 (salable) at 27 public markets
do
5,965
1, 646
5,972
1,593
6, 956
1,828
5,898
1,511
6, 420
1,635
6,481
1,681
5,476
1,460
5,038
1, 443
14. 22
14.37
14.22
13.89
14.46
15.22
15.88
16.21
16.40
15.13
14.07
14. 94
15.58
16.56
13.2
13.2
12.7
12.3
12.3
12.8
14.2
13.9
13.8
13. 7
13.4
12.9
13.4
14.0
1,296
394
••149
980
294
••138
1,035
304
133
1,052
319
171
986
289
215
1,056
337
154
1,118
"343
179
1,020
385
314
1,141
511
433
1,213
551
394
997
394
134
1,053
336
134
1,062
278
122
209
19.50
-.(•)
21.12
(6)
22. 25
(8)
22.25
24. 00
(6)
23.75
(•>
23. 38
(6)
(6)
23.50
(6)
22.50
(6)
20.50
&20.31
19.75
(«)
20.62
&19.62
22.25
(6)
23.88
(6)
Wholesale, average, all grades (Chicago)
14. 92
$per!00lb._ 15.03
Hog-corn price ratio (bu. of corn equal in value
13.6
13.2
to 100 Ib. live hog)
Sheep and lambs:
1,079
Slaughter (federally inspected). ..thous. animals- - 1,163
444
370
Receipts (salable) at 27 public markets
do
200
212
Shipments feeder to 8 corn-belt States
do
Prices, wholesale:
18.69
21.93
Lambs average (Chicago)
$ per 100 Ib
Lambs, feeder, good and choice (Omaha) _do_ _ „ s 17. 83 519.82
0
0
MEATS AND LARD
Total meats:
Production (carcass weight, leaf lard in), Inspected
slaughter
- --mil Ib
Stocks (excluding lard), cold storage, end of
month
.......mil. lb__
Exports (meat and meat prepara tions) t
do
Imports (meat and meat preparations)^
do
2,292
2,473
2,662
2,252
2,447
2,575
2,406
2,404
2,332
2,221
2,405
2,754
2,553
2,665
2,518
592
45
122
'721
55
91
'725
60
119
'767
56
73
810
53
101
872
47
89
873
63
76
833
56
126
731
49
75
628
48
106
532
50
79
582
62
76
667
56
82
702
65
86
'703
700
41
Beef and veal:
1,137.4 1, 304. 4 1,292.8 1, 119. 3 1,220.2 1,314.8 1, 319. 6 1, 384. 8 1, 336. 5 1, 278. 0 1, 323. 3 1,421.3 1. 271. 7 1, 370. 4 1, 341. 5
Production, inspected slaughter
do
282.1 284.5
276.3
297.5
285. 7
300. 4
296.3
Stocks, cold storage, end of month
-...do.___ 217.2
300.9
328.5 '305.2
291.5
267.0
272.8
305.6
2.3
2.1
3.5
3.9
5.7
2.5
5.0
3.8
3.1
2.4
15.6
Exports
do
4.8
3.7
6.0
92.0
89.3
51.9
66.4
.71. 4
53.1
66.3
99.6
Imports.. __- -_ - _ _ _
_
do
99.9
58.1
' 59. 2 34.7
70. 1
53.5
72.4
Price, wholesale, beef, fresh, steer carcasses, choice
.417
.381
.379
.398
.372
.378
.408
.384
.403
.400
(600-700 Ibs.) (New York) _ _ _ _ _ _ _ _ _ _ . $ per Ib
.424
.430
.398
.419
.408
Lamb and mutton:
55.6
49.6
53.6
63.9
52.5
48.2
48.3
51.0
46.2
Production, inspected slaughter
mil. lb_.
53.7
52.4
52.6
52.0
57.3
48.9
19.5
18.4
16.3
18.3
18.3
16.4
18.2
17.3
Stocks, cold storage, end of month
do____
16. 1
13.1 '12.3
16.2
15.3
13.7
13. 0
271.0
.403
11.5
Pork (including lard), production, Inspected slaugh944.4
ter
__
mil Ib 1,099.0 1, 116. 6 1,305.6 1, 082. 8 1,174.7 1, 206. 5 1, 038. 1 970. 9
896.9 1, 029. 2 1,275.3 1, 232. 7 1,241.7 1,122.9
Pork (excluding lard) :
856.6
940.9
914.5
798. 4
Production, inspected slaughter..
do
733.6
743.6
870.4 1, 017. 1 854.4
694. 7
809. 7 1, 000. 5 972.8
882.8
972.8
473.6
468.8
321.4
Stocks, cold storage, end of month.
_ _ d o 279.2
412.9
283.6 ' 307. 9
229.1
184.0
330. 4
333. 2 332.8 382.3 411. 2
223. 4
275.0
11.5
22.9
18.5
10.9
13.0
13.5
8.6
Exports... --_ .
do
12.9
5.9
5.5
11. 1
6.6
5. 8
8.9
17.6
16.7
16.3
14.8
19.7
18.0
17.0
Imports
. _ •
do
17.8
7.4
15.9
17.9
17.5
18.1
17.3 '20.6
Prices, wholesale:
.464
.452
.458
.457
.435
.423
Hams, smoked, composite
$ per Ib
.448
.453
.475
.465
.458
.498 p . 484
.462
.475
.401
.438
.409
.395
.413
.503
Fresh loins, 8-12 Ib. average (New York) _do . . .443
.461
.452
.513
.443
.503
.460
.478
. 403
.401
Lard:
176. 4
189.1 193.0
209.4
173.0
175.7
Production, inspected slaughter
-. mil Ib
155. 5
165.7
147.8
174. 8
189.4
195.8
159, 3
190.2
200.7
125. 4
105.7
Stocks, dry and cold storage, end of mo... do
124.9
125.2
113.6
116.3
96.3
98.1
104.2
89.1
68. 2
82.4
103.8 ' 127. 1 150.9
44.8
62.7
Exports
do
72.8
52.3
51.6
51.9
91.1
45.8
46.3
42.6
46.4
56.8
63.5
54.9
.122
.128
.131
.126
.130
Price .wholesale , refined (Chicago)
$ per Ib
.130
.131
.130
.131
.136
.135
.149 p .148
.160
.148
'Revised.
» Preliminary.
fRe vised eff ective Ja n. 1961 iii accordanee withr the Staridard Inl,ernation al Trade Classi1
2
Crop estimate for the year.
Quarterly average.
ficatio n (SITC ) group!ng of iteims; this grouping exclude s lard (iiicluded i n former export
s Old crop only; new grain not reported until beginning of new crop year (July for wheat)
series) and sausage casings (formerly included) but includes meat extracts, etc. (formerly
4
Beginning Jan. 1964. flour included in total is converted to grain equivalent on basis oi
excluded). Data for Jan. 1961-Aug. 1962 are available upon request. ° Beginning July
b
2.33 bu. of wheat to 100 Ib. of flour (2.3 bu. formerly used).
1964, data are for 26 public markets.
Choice only.
s Average based on months for which quotations are available.
e No quotation.
SUKVEY OF CUEEENT BUSINESS
March 1965
Unless otherwise stated, statistics through 1962
and descriptive notes are shown in the 1963
edition of BUSINESS STATISTICS
1963 | 1964
Monthly
average
S-29
1965
1964
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
FOOD AND KINDRED PRODUCTS-, TOBACCO—Continued
POULTRY AND EGGS
Poultry:
Slaughter (commercial production)
mil. Ib
Stocks, cold storage (frozen), end of month, total
miUb.
Turkeys
do
Price, In Georgia producing area, live broilers
$ per Ib.
Eggs:
Production on farms
mil casosO
Stocks, cold storage, end of month:
Shell .
thous. casosO.
Frozen
ml) Ib
Price, wholesale, extras, large (delivered; Chi 3ago)
$ per doz._
604
629
••557
459
494
541
569
611
635
699
778
838
725
640
560
295
184
313
181
359
215
320
188
273
151
241
123
219
100
211
89
227
102
275
149
366
233
488
342
419
274
357
207
'340
'195
297
165
.138
.139
.139
.141
.140
. 135
. 130
.135
.145
.140
.145
.140
.140
. 135
.135
.145
U4.6
15.0
14.8
14.4
16.0
15.7
16.0
15.0
14.9
14.5
14.0
14.6
14.4
15. 1
15.4
14.1
132
73
124
76
137
44
78
40
36
46
81
62
171
86
201
106
184
114
119
108
155
98
160
84
102
69
62
58
57
'54
39
53
.343
.331
.387
.320
. 326
.290
.276
.293
.326
.381
.362
.363
.329
.308
.261
.277
23.5
.253
22.4
.234
26.7
.263
23.9
.233
29.4
.236
16.8
.220
17.6
.228
22.2
.224
18.4
.235
26.8
. 228
19.7
.234
23.9
.235
18.6
.226
24.4
.240
8.0
.226
.201
2
3,922
2
5,704
M,298
25,594
1,986
772
1,902
601
.345
110
.479
117
206
MISCELLANEOUS FOOD PRODUCTS
Cocoa (cacao) beans:
Imports (Incl. shells)
.thous. Ig. tons..
Price, wholesale, Accra (New York)
$ per lb_.
Coffee (green) :
Inventories (roasters', importers', dealers'), T end
of quarter
thous ba scf
Roastings (green weight), quarterly total__jio
Imports, total
_
do
From Brazil
__.
do
Price, wholesale, Santos, No. 4 (New York)
$p<,rlb..
Confectlonery, manufacturers' sales.
___ir.ll. $_-
4,366
6,645
4 071
5,041
4,216
5 016
4, 539
5,672
1,970
591
2,476
1,006
2,460
843
1,597
302
1,344
399
1, 552
441
1,428
368
1,660
525
1,960
367
2,330
924
2,069
728
461
156
. 480
129
.465
120
.505
109
.500
104
.490
89
.485
86
.475
7.7
.473
101
.455
161
.483
163
.475
139
.458
125
.450
.462
195
220
178
163
156
162
177
200
216
219
213
218
215
192
167
929
806
155
••640
1,345
1,835
1,695
1,370
1,380
780
255
125
80
25
410
1,245
314
540
159
367
459
159
595
1,213
78
305
224
108
197
371
228
120
348
223
66
399
216
45
723
244
79
628
224
120
783
190
156
529
158
753
146
116
967
83
54
1,006
64
63
1,872
167
Deliveries, total?—— —
do
For domestic consumption
3o__..
Stocks, raw and refined, end of month 3o
836
832
1,675
809
801
1,997
642
641
2,579
583
582
2,581
701
700
2,533
732
731
2,341
765
764
2, 185
919
918
1,866
976
974
1,493
978
977
1, 234
975
971
965
830
823
1,409
738
'866
730
••860
2,085 '2,693
756
756
p 2,806
Exports, raw and refined.
____sh. tons..
Imports:
Raw sugar, tota!9
--thous. sh. tons
From Republic of the Philippines. ... do Refined sugar, totals
do
342
352
585
785
571
367
407
396
231
231
171
187
148
143
359
91
314
292
98
7
163
68
2
92
11
2
226
89
1
205
42
3
340
127
1
293
77
5
367
170
11
271
101
6
429
183
7
391
104
22
381
109
8
347
91
16
132
51
5
Prices (New York):
Raw, wholesale
___$pBrlb .
Refined:
Retail (incl. N.E. New Jersey) __$ pei 51b_.
Wholesale (excl. excise tax)..
$ perlb..
.081
.069
.063
.062
.062
.063
'.061
'.065
.068
.688
.111
Fish:
Stocks, cold storage, end of month.
mil. lb__
Sugar:
Cuban stocks, raw, end of month
thous. Spanish tons..
United States:
Deliveries and supply (raw basis) :§
Production and receipts:
Production
..thous. sh. tons_.
Entries from off-shore, total 9
. 3o
Hawaii and Puerto Rico..... ___ ...Jo
Tea, Imports ...
.
thous. Ib.. 10, 503
Baking or frying fats (incl. shortening):
Production
_„__
...mil. lb__
Stocks (producers' and warehouse), end of month
Salad or cooking oils:
Production
do
Stocks (producers' and warehouse), end of month
tt.fl.lb..
Margarine:
Production.
do
Stocks (producers' and warehouse), end of month
Price, wholesale (colored; mfr. to wholesaler or"
large retailer; delivered?
•_. _ _ _ $ per Ib—
""."166"
11, 133
1,977
718
.095
. 082
.073
.074
,068
.066
.769
.125
.774
.118
.737
.112
.722
.105
.696
.102
.668
.092
.092
.092
.089
.089
.089
.091
P. 095
10, 823
10, 627
12,377
13,982
11, 552
10,409
10, 392
8, 533
10, 897
10,674
10,242
13, 084
4,066
193.8
213.4
221.6
207.1
209.8
213.0
216.3
221.4
233.8
182.2
228. 9
246.0
263.9
238.5
197.9
132.4
113. 1
114. 2
113.4
113.9
116.5
122.1
131. 1
117. 2
99.9
94.4
101. 7
112. 2
121.1
122.8
191.3
233. 9
175. 6
199.9
211.4
201.0
207.4
235.1
238.8
296.1
280.3
277. 8
249.9
234.0
.068
212.4
248.7
120.9
137.5
124. 7
119.5
126. 2
129.0
120.7
104. 7
116. 9
105.4
110.1
137.5
118.8
158.2
149. 5
154.8
181. 4
159. 4
159.8
150. 2
138.4
134.3
136.5
142. 5
162. 1
182.2
143. 9
166.7
163.2
46.3
46.4
42.7
46.7
52. 0
48. 6
50.6
47.2
44.4
44.8
40.2
44.5
47.2
48.0
50.3
.238
.241
.238
.238
.238
. 238
.238
.238
.238
.238
.238
. 241
.250
.260
P. 256
41.4
33.6
43.4
36.4
41.3
30.2
46.3
37.2
41.9
37.3
44.6
39.2
49.6
42.0
45.9
40.4
41.9
34.9
43.3
43.6
37. 2
36.8
45.0
38.4
44.6
32.1
39.0
24.4
42.5
26.9
FATS, OILS, AND RELATED PRODUCTS
Animal and fish fats: A
Tallow, edible:
Production (quantities rendered)
mil. Ib
Consumption in end products
__.do.
Stocks (factory and warehouse), end of month"
41.3
35.7
34.1
36.4
37.4
Tallow and grease (except wool), inedibleProduction (quantities rendered)
__.do.
317.2
363.3
348.4
336.4
335.3
Consumption in end products... _ _ _ _ . . _ _ _ d o
5 177. 8
183. 6
173.2
178.6
161.8
Stocks (factory and warehouse), end of month
383. 2
344.8 387.3 421.5 395.9
Fish and marine mammal oils:
Production!.
do
15.5
14. 9
.7
.2
.3
Consumption in end products
do
7- 4
6.5
6.9
6.8
6.9
Stocks ("factory and warehouse), end of m Dnth""
nil.lb- 6162.7
110.5
129.8
126.7
99.4
r
Revised. » Preliminary. * Beginning Jan. 1963 include 3 data foi• Alaska and Ha waiL
2
Quarterly average.
3 Effective Sept. :i963, incl udes sm all amou nts of r efined siigar,
tinctured, colored, or adulterated.
< N^ availabl B.
S B eginning 1962 on annual 1Dasis
and Jan. 1964 monthly, data are not comparable with those fo r earlier periods; consunif )tion
for feed now based on Tenderers' shipments in stead off eed mill reports,
eBegilining M arch
1963, includes General Services Administration stoc ks no loiiger reqilired for the stra begic
stockpile.
7 includes a significant amount describe d as "coiitaminat ed."
38.5
38.7
37.8
35.5
29.9
24.6
24.0
29.2
41.7
46.4
366.0
173. 8
361.0
178.3
351.3
193.0
347.4
159.9
332. 2
184.0
322.3
187.1
372.6
196.0
343.7
167.6
' 349. 2
185. 3
357. 8
185.3
395.9
331.1
331.9
314. 7
305.3
281. 9
294.2
312. 4
365.7
426. 5
3.5
7.6
29.4
6.8
40.2
7.0
31.8
6.2
26.1
7.4
18.5
7.2
15.3
6.3
7.0
6.1
5.8
'6.0
.5
5.6
95.5
113. 2
124.6
139,6
147.4
145.6
130.0
144.6 '139.9
135.5
0Casesof 30 dozen,
cfBags of 132.27 5 Ib.
9Imjludes da ta not sh own sepsirately; s Be also no te "§".
§Mon thly datei reflect c umulative reivisions fo r prior periods.
AFo r data on lard, sees P. S-28.
JRev isions foir Jan.-June 1962 appear in the Sepl . 1963 SiTBVEY.
SURVEY OF CURRENT BUSINESS
S-30
Unless otherwise stated, statistics through 1962
and descriptive notes are shown in the 1963
edition of BUSINESS STATISTICS
1963 | 1964
Monthly
average
March 1965
1964
Jan.
Feb.
Mar.
Apr.
May
June
1965
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
FOOD AND KINDRED PRODUCTS; TOBACCO—Continued
FATS, OILS, AND RELATED
PRODUCTS— Continued
Vege table oils and related produc ts :
Coconut oil:
Production:
Crude
._ —...mil. lb~
Refined
do
Consumption in end products
_do
Stocks, crude and refined (factory and warehouse), end of month..
_.
mil. lb_.
Imports
do
Co moil:
Production:
Crude
do. _
Refined
do
Consumption in end products t
do
Stocks, crude and refined (factory and warehouse) end of month J
mil Ib
Cottonseed cake and meal :
Production
thous sh. tons
Stocks (at oil mills) , end of month
do
Cottonseed oil:
Production:
Crude
__•
mil.lb_.
Refined
do
Consumption in end products
do
Stocks, crude and refined (factory and warehouse), end of month..-mil. lb__
.Exports (crude and refined)*
do
Price, wholesale (drums; N.Y.)
$ perlb._
Linseed oil:
Production, crude (raw)
mil Ib
Consumption in end products
do
Stocks, crude and refined (factory and warehouse) end of month
mil Ib
Price, wholesale (Minneapolis) „_
$ per lb_.
29.0
46.2
60.5
128.3
42.2
63.5
30.0
41.2
58.0
30.0
41.6
58.7
(2)
41.1
61.9
18.6
48.4
66.7
20.0
41.9
65.9
25.2
38.0
58.7
32.6
46.2
61.1
29.3
43.2
69.7
27.5
39.8
66.2
32.1
46.9
74.0
37.8
38.9
61.7
(2)
38.8
59.4
36.7
46.8
63.1
228.5
31.0
166.1
33.1
193.4
61.1
196.5
41.6
185.5
46.1
166.0
34.8
158.2
27.8
154.7
36.4
166.3
35.4
178. 5
68.8
161.7
9.3
131.8
15.3
146. 7
14.5
' 154.0
6.1
147.5
71.8
32.5
30.3
29.4
34.5
32.8
34.2
32.7
30.1
33.3
34.6
28.6
34.5
37.2
34.7
33.0
36.6
30.0
31.7
35.9
27.7
30.9
37.0
34.3
33.0
33.0
32.9
34.3
33.9
38.5
35.2
31.5
29.9
31.2
36.0
41.3
42.6
33.5
32.8
34.8
32.0
32.3
36.1
35.1
32.4
33.3
58.2
57.8
62.4
60.5
60.3
63.9
62.6
63.8
62.2
59.7
61.9
52.4
43.4
40.1
38.9
225.5
87.2
325.0
315.4
150. 6
284. 0
177.0
227.3
205.9
292.8
241.4
259.9
212.9
295. 7
325.6
305.0
250.2
82.5
171.5
181.9
138.8
316.9
137.4
339.0
218.3
326.5
207.5
259. 1
172.9
159. 9
126.8
159.8
131.4
96.0
161.1
133. 3
114.4
231.4
158.2
95.2
207.4
185.8
146.7
107.5
154.7
151.9
103.8
119.2
137. 2
99.2
86.6
117.2
111.9
60.3
78.9
105.4
55.9
72.2
111.8
127.2
86.7
127.9
143. 9
140.3
227.3
243.3
233.7
599.2
638.3
739.8
432.8
50.0
.141
803.7
30.4
.153
33.3
32.0
116.7
.127
225.3
116.7
177.2
129.8
192.8
136.5
534.7
34.2
172.3
121.3
810.2
38.4
.149
611.0
21.2
.133
450.1
35.0
.135
518.0
75.3
. 131
43.7
.130
••506.3
54.0
.152
701.6
43.1
3.132
498.4
48.7
.141
801.6
76.3
.145
769.2
53.3
.143
'22.1
.150
88.7
.150
*>. 149
37.0
31.4
35.3
28.0
33.6
31.0
33.5
32.5
31.5
35.1
39.3
34.8
40.8
36.4
33.7
35.2
38. 2
32.2
42.1
30.3
45.7
30.3
35.2
25.8
34.7
25.8
34.7
27.5
137.0
.134
124.4
.133
132.0
.133
132.9
.133
131.6
.133
137.6
.133
139.4
.133
125.9
.133
124. 6
.133
125. 1
.133
145.8
.134
158.2
.139
166.3
.139
180. 1
P. 139
886. 3
132.1
842.0
807.3
790.7
855. 2
167.6
893.8
121.4
885.1
119.8
852.3 1, 027. 4 1,022.2 1,009.4 1, 001. 9
157.2
819.0
139.9
830.8
162.4
100.7
116.7
120.3
388. 6
351.2
376.2
328.3
330.9
368.9
362.7
353.3
385.6
400.5
340.5
412.0
413.6
435. 6
398.8
458.4
344.8
398.7
355.6
342.3
386. 2
336.6
366.1
341.7
425.8
434. 8
482.5
444.3
432.5
368.7
370.5
338.6
770.8 1,022.4
Soybean cake and meal:
Production
thous.sh. tons__ 900.1
Stocks (at oil mills), end of month §
do.
127.3
Soybean oil:
Production:
Crude
_mil.lb— 421.1
Refined
do
336.1
Consumption in end products
do
322.0
Stocks, crude and refined (factory and warehouse) end of month t
mil Ib
1876.0
Exports (crude and refined)*
do
'91.9
.133
Price, wholesale (refined ; N.Y.)
$ per lb_.
TOBACCO
Leaf:
Production (crop estimate)
mil Ib
Stocks, dealers' and manufacturers' end of quarter, total..
..mil. lb__
Exports, incl. scrap and stems. _
thous. lb__
Imports, incl. scrap and stems
_do
Manufactured:
Production (smoking, chewing, snuff)
do._ __
Consumption (withdrawals):
Cigarettes (small):
Tax-exempt.
.
millions
Taxable
do
Cigars (large), taxable
do
Manufactured tobacco, taxable
thous. lb._
Exports, cigarettes
millions
137.1
102.9
165.1
32.4
,006.4
922.3
873.3
814.9
99.5
3.102
759.4
666.5
577.8
538.4
532.7
544.2
586.6
62.7
.123
117.8
.149
157.6
.140
p . 139
384.3
382.6
368.0
106. 0
.123
152.4
70.2
.123
74.7
.122
991.4
69.2
.122
352.1
126.0
.121
124. 1
127.1
.109
42,343
5
5, 220
42, 533
14, 971
36, 901
12, 438
36, 307
22, 822
5,314
23, 529
12, 876
29,667
14,687
31, 306
14, 147
* 4, 922
44, 084
15, 735
32, 793
'13,960
15,004
15,068
16, 150
16, 937
16, 701
14, 647
15,350
3,216
3,144
43, 686
670
16, 028
1,862
3,126
41, 714
731
3,644
124.8
.120
110.2
.129
877.5
102. 6
186.8
199.0
464. 8
463.3
377.4
408. 5
321. 6
4 2, 230
6 4, 931
42, 124
13, 985
132.1
.110
467.9
392.1
31.9
3,424
42,466
547
13,711
1,968
3,554
41, 454
675
14,644
2,095
3,344
3,234
40, 980
594
14, 863
1, 843
29, 168
622
15, 550
1,702
37,854
682
16,214
2,107
14,231
1,890
45, 154
699
14, 757
2,046
15, 012
69.311
16/521
56, 037
16, 706
56,081
14,846
5,613
65, 854
9,001
13, 146
14,513
15, 035
16, 189
13, 470
12,849
3,877
42,584
3,708
44,420
3,986
43,303
3,571
47, 136
777
15, 139
1,844
3,237
41,548
14,860
28,522
' 5, 033
689
784
13, 727
20, 802
4,557
39, 898
444
693
13, 187
2,148
13,909
14,820
2,827
8,032
7,810
162
945
8,385
9,005
7,922
173
1,004
204
1,101
228
1,021
4,382
719
1,990
2,042
13,306
2,843
LEATHER AND PRODUCTS
HIDES AND SKINS
Exports:
Value, total 9„
thous. $_.
Calf and kip skins.
thous. skins
Cattle hides....
thous. hides..
Imports:
Value, total 9 thous. $..
Sheep and lamb skins..
„
—thous. pieces..
Goat and kid skins.
do
Prices, wholesale (f.o.b. shipping point):
Calfskins, packer, heavy, 9^/15 lb_ _ _ _ _ _ $ per lb__
Hides, steer, heavy, native, over 53 Ib
do
6,215
155
664
7,724
199
959
6,525
255
787
6,779
233
904
245
778
5,253
6,823 5,223
e 2,192 7 2,538 71,031
1,231
1,074
1,360
7,122
3,254
1,113
.325
.078
p. 365
p. Ill
P . 414
p . 106
.325
7,088
213
8,620
239
1,072
8,252
151
987
7,890
8,456
4,370
1,099
8,111
3,380
1,323
8,519
3,615
1,650
8,242
2,732
8,369
3,354
5,631
1,891
850
8,077
3,527
4,083
1,157
871
863
1,052
570
1,378
925
.325
.083
.0
40
.113
.438
.430
.104
.430
.115
.450
.124
.450
.119
.450
.124
.450
'.119
.500
.114
525
1,993
1,171
2,813
601
1,993
1,132
3,018
611
1,957
1,134
2,736
495
1,693
1,015
1,917
542
1,993
790
572
1,937
1,047
2,057
639
629
1,840
942
637
1,896
1,120
4,293
4,562
3,627
3,443
3,762
2,555
2,602
3,050
3,015
3,241
3,955
3,496
.657
.657
.657
.657
.657
.657
LEATHER
Production:
Calf and whole kip.
thous. skins..
466
545
386
414
484
Cattle hide and side kip... thous. hides and kips.. 1,804 1,903 1,844 1,790 1,
Goat and kid
thous. skins.. 1,182
1,073 1,325
1,047 1,059
Sheepandlamb.
do.... 2,864 §2,629 2,552
2,727 2,731
Exports:
Glove and garment leather.
thous. sq. ft.. 4,640
3,875 5,273
4,522
4,950
Upperand lining leather....
do..._ 3,423
3,548 4,393
4,051 4,
Prices, wholesale:
Sole, bends, light, f.o.b. tannery
$perlb_. p. 678 p . 662
.650
.650
.647
Upper, chrome calf, B and C grades, f.o.b. tannery.
_
$ per sq.ft.. I * 1.151 P 1.174
1.143
1.137
1.137
'Revised.
P Preliminary.
1 Average based on months for which data are available.
2 Not available.
3 Beginning June 1964, data are not comparable with those for earlier
periods because of changes in specifications or reporters (for leather). May 1964 prices on
new basis: Cottonseed oil, $0.132; soybean oil, $0.103; leather, $1.180.
* Crop estimate for
the year.
s Quarterly average.
« Effective Sept. 1963, data reflect minor changes in
coverage to conform with "Tariff Schedules of the United States."
? Effective Jan. 1964,
1,134
184
972
104
1,051
2,865
2,528
2,834
1,092
2,750
3,307
2,630
2,756
'.695
2,627
5,664
616
377
P. 500
P.104
2,333
P . 695
1.133
1.170
1.138 31.180
1.187
1.197
1.223
1.223 P 1.237
1.223
8
data exclude items presently reported in Ibs. instead of pieces.
Includes revisions not
distributed by months.
fRevisions for 1962 appear in the Sept. 1963 SURVEY.
*New series. Data prior to Sept. 1962 may be obtained from Bureau of Census reports.
§Monthly averages for 1951-56 (corrected) appear in the Aug. 1964 SUBVEY.>
9 Includes data for items not shown separately.
SUKVEY OF CURRENT BUSINESS
March 1965
1
Unless otherwise stated, statistics through 1962
and descriptive notes are shown in the 1 1963
edition of BUSINESS STATISTICS
|
1964
1963 | 1964
Monthly
average
S-31
Jan.
Feb.
Mar.
Apr.
May
June
1965
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
LEATHER AND PRODUCTS—Continued
LEATHER MANUFACTURES
Shoes and slippers:
Production total];
thous fairs.- 46, 978
Shoes, sandals, and play shoes, except athletic
thous fairs - 39, 876
5,938
Slippers for house wear
_ do
596
Athletic
do
568
Other footwear
do
Exports
- do
Prices, wholesale , f .o.b. factory:
Men's and boys' oxfords, dress, elk or side
upper, Goodyear welt
_
1957-59 == 100- _
Women's oxfords, elk side upper, Goodyear
welt
1957-59= =100..
Women's pumps, low-medium quality— <Io
51, 556
50,033
52,314
49, 205
47,685
47, 526
47, 436
53,075
50, 620
50,902
45, 754
46, 689
3, 882
397
588
44, 634
4, 614
390
395
46, 250
5,107
439
518
42, 217
5,969
443
576
40,325
6,280
354
726
40, 544
5,903
290
789
40,630
5,834
256
716
44, 074
7,887
281
833
41,128
8,109
259
1,124
40,457
9,238
275
932
37, 166
7,558
275
755
156
210
174
145
162
141
150
163
219
133
145
170
159
115
105.1
105.9
105.1
105. 1
105.1
105.1
105.1
105.1
105.1
105.1
105.1
108.8
108.0
108 0
108.0
106. 5
110.7
106.5
111. 0
106.5
111.2
106. 5
110.6
106.5
110. 6
106.5
110.8
106.5
110.9
<?
106.5
110. 9
106.5
110.9
106.5
110.8
106.5
111.0
106.5
111.7
106.5
111.5
106 5
111.5
106 5
111.5
LUMBER AND PRODUCTS
LUMBER— ALL TYPES
National Lumber Manufacturers Association :d"O
Production total
mil bd ft
Hardwoods
do
Softwoods
- ... _ _ _ d o
Shipments, total
Hardwoods
Softwoods
_do
_._do
do
.
Stocks (gross), mill, end of month, total— do
Hardwoods
do
Softwoods
do
Exports, total sawmill products
Imports, total sawmill products
'2,879
'560
' 2, 318
2,951 '2,704
491
'481
2,460 ' 2, 223
2,817 ' 3, 053 ' 3, 005 ' 2, 959 '3,044 ' 3, 054 ' 3, 103 '3,204
'518
'463
'504
'474
'448
'491
'520
'533
'2,313 ' 2, 579 ' 2, 542 ' 2, 511 '2,526 '2,534 ' 2, 570 '2,713
3,085
509
2,576
2,738
509
2,229
2,642
441
2,201
2,488
465
2,023
'2,868
'543
'2,325
2,966 ' 2, 684 ' 2, 941 ' 3, 078 '3,124 ' 3, 032 ' 3, 112 ' 3, 155 '3,048 ' 3, 050
524
'518
'505
'528
'528
'515
'494
'518
'518
'561
2,441 ' 2, 190 ' 2, 413 '2,550 ' 2, 606 ' 2, 527 ' 2, 597 ' 2, 637 '2,487 ' 2, 532
3,098
557
2,541
2,709
559
2,150
2,556
489
2,067
2,657
520
2,137
' 6, 518
6,393 '6,619 '6,500 '6,493 '6,397 ' 6, 357 ' 6, 287 '6,203 ' 6, 264 '6,412
1,842
1,750
1,810
1,752
1,930
1,747
1,957
1,871
1,754
1, 722
1,693
' 4, 676 4, 643 ' 4, 662 ' 4, 570 ' 4, 622 ' 4, 587 ' 4, 610 ' 4, 535 '4,449 '4,542 ' 4, 719
6.358
1,638
4,720
6,389
1,590
4,799
6,434
1,536
4,898
6,274
1,474
4,800
...do
— <io
73
1445
80
437
70
281
68
391
97
455
72
475
90
445
77
576
95
556
82
478
80
470
78
390
76
405
72
319
180
mil. bd. ft—
do..
'691
'539
743
566
'858
671
'752
721
'709
637
'739
594
'713
558
'743
520
'792
491
'695
470
'717
442
817
530
690
555
691
607
858
750
do__ _
do.
do
'690
'689
'987
747
737
1,062
'819
'791
'726
'776
'730
'781
'790
'763
'770
'782
'702
' 716 '745
'722
'749
'781
'793
'821
' 1, 009 '1,032 '1,029 '1,066 ' 1, 093 ' 1, 103 '1,044 ' 1, 059 ' 1, 084
731
729
1,065
665
666
1,089
625
639
1,075
663
716
1,038
31
Exports, total sawmill products..
do
Sawed timber
do—
12
19
Boards, planks, scantlings, etc..-.
do
Prices, wholesale:
Dimension, construction, dried, 2" x 4", 11. L.
$ p e r M b d . ft.. 79.92
Flooring, C and better, F. G., 1" x 4", R. L.
$ per M t d. ft._ 134. 22
Southern pine:
Orders, new
.mil. t>d. ft.. '508
Orders, unfilled, end of month
do
280
31
11
19
35
13
21
25
10
15
27
7
19
,
SOFTWOODSd"O
Douglas fir:
Orders, new
Orders, unfilled, end of month
Production
Shipments
'.
Stocks (gross), mill, end of month
,
28
11
17
27
12
15
38
14
24
27
10
17
41
18
23
29
9
20
39
13
26
29
12
17
24
7
17
81.14
78.20
81. 43
82.01
83.10
82.99
82.03
81.51
81.52
81.40
81.05
' 79. 75
78.69 P82.61
153. 07
142. 46
150.02
152. 42
151.90
153. 45
153.45
155. 52
155. 52
155. 52
155. 52
155.52
155.52 Pl55. 52
529
274
'467
259
'487
270
'550
289
'580
306
'558
294
'573
284
'563
267
'529
260
'536
253
554
265
490
260
459
281
583
357
'501
'505
529
527
'495
'464
'497
'476
'542
'531
'557
'563
'539
'570
'548
'583
'557
'580
'521
'536
'537
'543
520
542
505
495
528
438
500
507
1,380
6,414
832
5,583
1,335
8,557
976
7,581
1,368
6,603
747
5,856
1,389
6,391
902
5,489
1, 400
10, 643
1,011
9, 632
1,394
8,694
788
7,906
1,363
10,050
847
9,203
1,328
9, 692
1,521
8,171
1,305
8,400
823
7,577
1, 290
9,496
1,691
7,805
1, 284
8,033
800
7,233
1,262
8,500
860
7,640
1, 272
6,711
532
6, 179
1,362
9,471
1,187
8,284
1,355
92.5
92.7
92.7
92.8
92.6
92.7
93.2
92.7
92.9
92.3
92.4
92.9
92.7
92.0
92.3
95.2
95.3
95.6
95.4
95.4
95.4
95.4
95.1
95.1
95.1
95.0
95.3
95.3
95.6
95.6
840
383
880
463
'882
503
'927
501
'864
496
'886
484
'828
437
'904
459
'938
485
'883
453
'913
430
966
434
726
413
848
463
813
537
Production —
__ do
. ' 832
882
'673
'796
'918
'842
'865
'884
'918 '1,003 ' 1, 087
'840
871
'726
'929
'869
'911
'898
'883
'875
'936
'915
Stocks (cross), mill, end of month
do
' 1, 654 1,606 '1,626 '1,493 ' 1, 542 '1,486 ' 1, 495 '1,477 ' 1, 484 '1,572 '1,723
Price, wholesale, Ponderosa, boards, No 3, 1" x
12", R. L. (6' and over).
.$ per M bd. ft- 67.42
65.49
63.07 63. 67
66.45 68. 05
69.92 69.01 67.16
65.52 63.73
HARDWOOD FLOORING
1,003
962
1,764
781
747
1,798
809
798
1,809
646
738
1,716
Production
do
Shipments.
do
Stocks (gross), mill and concentration yard,}, end
of month
.mil. bd. ft—
Exports, total sawmill products.
M l id. ft..
Sawed timber
do
Boards, planks, scantlings, etc
.do
Prices, wholesale, (indexes):
Boards, No. 2 and better, 1" x 6", R. L.
1957-59=100Floorlng, B and better, F. G.,, I" x 4", S. L
1957-59=100Western pine:
Orders, new
_
— mil. bd. ft—
Orders, unfilled, end of month
....do
Flooring:
Maple, beech, and birch:
Orders, new...
mil. xl. ft—
Orders, unfilled, end of month.
do
Production...
do
Shipments...
do
Stocks (gross), mill, end of month
do
Oak:
Orders, new....
•_
do
Orders, unfilled, end of month. __
_ do
Production
do
Shipments
do
Stocks (gross), mill, end of month.
do
forSvrn^
reSorts MlAtt2?and ?St is
yuiuoivioiAvo^ diiuuw; M.
Y months for
63.52 '62.63
63.15 * 63. 66
2.9
10.8
2.8
2.7
6.5
2.7
11.4
2.4
2.6
6.2
2.6
10.8
2.6
2.2
7.6
2.8
11.6
2.2
1.9
7.9
3.0
12.4
2.3
2.4
7.8
3.1
12.5
3.0
2.7
7.9
2.8
12.5
2.7
2.6
7.9
3.1
12.2
2.9
3.4
7.3
2.6
11.3
2.4
3.6
6.0
2.5
11.1
1.4
2.4
4.8
2.5
10.9
2.1
2.3
4.4
2.6
10.6
2.8
2.9
4.3
2.2
10.4
2.0
2.4
4.2
2.1
10.1
2.3
2.4
4.0
2.5
10.7
2.2
1.8
4.3
68.3
45.2
69.3
69.1
43.6
68.3
50.4
70.2
. 68. 7
52.2
75.7
44.7
72.7
64.4
55.0
84. 2
63.6
65.2
65.2
55.0
74.7
68.6
71.2
73.2
52.5
69.4
62.3
73.2
72.3
53.4
58.1
54.1
70.3
68.1
54.4
62.5
48.5
72.1
70.4
53.1
74.5
50.4
72.1
72.6
52.6
75.2
53.3
69. 0
70.0
50.1
67.0
48.8
70.2
72.4
47.9
65.7
39.5
74.3
74.7
47.5
57.7
35.3
64.8
62.0
50.4
54.8
35.6
67.0
58.8
54.5
65.8
39.4
65.0
62.0
57.5
^o?iV9f'tnlata e*clude sma11 amounts
K»l-Sept. 1963 are shown in Bu. of Census
d* Revised data will be shown later as follows: Jan. 1961-Dec. 1963 for production, shipments, and orders; Jan-Dec 1963 for stocks; revisions for 1951-62 for stocks appear on p. 28
of the Jan. 1964 SURVEY. 0 Beginning Jan. 1961, data for Alaska included in pertinent items.
SUEVEY OF CUERENT BUSINESS
S-32
Unless otherwise stated, statistics through 1962
and descriptive notes are shown in the 1963
edition of BUSINESS STATISTICS
1963
1964
March 1965
1964
Monthly
average
Jan.
Feb.
Mar.
Apr.
May
June
1965
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
METALS AND MANUFACTURES
IRON AND STEEL
Exports:
Steel mill products
thous sh tons
Scrap
do
Pig iron*
do
182
530
6
273
657
15
226
580
4
212
557
3
Imports:
Steel mill products 1f
Scrap ^f
Pig iron*
454
19
55
537
25
63
481
27
29
-^
--
do
do_- do
Iron and Steel Scrap
Production and receipts, total_____ _thous. sh. tons..
Home scrap produced
do
.rurcnasea sc ^ .
^ '
,
oi
w
'
sft
~n/i~r\t me\
Hn
235
744
218
708
14
256
770
34
300
679
39
333
718
27
330
709
2
259
677
22
298
619
8
265
495
14
348
624
10
110
428
26
36
474
23
21
495
16
29
544
17
78
604
31
99
582
17
90
525
24
95
493
24
48
555
36
101
734
36
75
523
23
49
347
19
29
6,363
3,876
2,487
6,530
7,778
6,366
3,841
2,524
6,5,60
7,599
6,813
4,263
2,550
7,162
7,302
7,069
4,445
2,624
7,340
7,030
7,243
4,496
2,748
7,351
6,921
7,035
4,331
2, 704
6,831
7,129
6,634
4,254
2,379
6,460
7,317
*>32. 77
*34. 70
28.94
29. 00
28.63
29.00
28.85
31.00
30.36
32.00
30.62
33.50
31.91
34.50
33.22
36.00
37.05
38.00
34.90
36.00
35.41
38.00
6, 778
6,876
3,535
4,067
1, 406
1,693
4,088
1,446
1,667
4,167
1,598
2,017
5,731
5,000
2, 403
8,918
9,758
3,451
9,448
10, 227
4,752
9,199
11, 059
5,070
9,238
10, 969
5, 062
9,002
10, 222
4,717
7,730
10, 201
4,385
2,710 3, 225
9,860
10,183 9, 113 8,867
211
580
255
71, 031 '73,404 70,188
14, 563 13, 477 16,118
52, 218 ' 54,654 49,002
4,249
5, 273 5,068
3,491
9,764
195
66,068
18, 632
42,729
4,707
7,323
9,801
347
63, 889
19, 350
40, 250
4,289
13, 432
10, 558
621
65.666
18; 501
43, 124
4,041
14, 029
10, 019
719
68, 868
17, 722
47, 134
4, 012
15, 077
10, 002
934
72, 074
15,861
52, 209
4,004
14, 497
10, 363
852
74,365
14,129
56, 343
3,893
13, 676
10,270
945
76, 525
12, 910
59, 758
3,857
13, 141
11,069
928
76, 367
10, 439
61, 831
4,097
.6, 168
3,715
2, 453
6, 218
7 977
Prices, steel scrap, No. 1 heavy melting:
Composite (5 markets)
$ per Ig. ton._ 26.78
27.00
Pittsburgh district
do
Ore
Iron ore (operations in all U.S. districts) :
Mine production
thous. Ig. tons__ 6,060
6,156
Shipments from mines
do
2, 791
Imports
do
U.S. and foreign ores and ore agglomerates:
8,458
Receipts at iron and steel plants
do
8,669
Consumption at iron and steel plants
do
568
Fxports
do
73, 797
Stocks totsl end of mo
do
15, 049
At mines
do
53, 376
At furnace yards
do
5, 372
At U S docks
do
84
Manganese (mn. content), general imports^_.do
(')
'36.39
36.98 P36.60
' 39. 50 40. 00 p 39. 00
5,290
7,678
3,700
4,459
2, 945
3,501
2, 192
11, 476 6, 249
10,900 11,472
309
648
74,465 70, 490
8, 051 9,565
62, 407 57,184
4, 007 3,741
49, 643
3,226
3,981
11, 522
86
71
54
62
105
53
110
80
64
41
92
194
108
97
7, 133
6,291
6,415
6,199
6,306
6, 910
7,030
6,973
7,058
7,435
7,506
7,076
7,063
7,006
7,059
7, 158
7,142
7, 780
7,674
7, 958
8,013
2,730
2,654
2,569
2,493
2,400
2,501
2,529
62. 87
63.00
63.50
62.75
63.00
63.50
62.75
63.00
63.50
62.75
63.00
63.50
62.75
63.00
63.50
62. 75
63.00
63.50
62.75
63. 00
63.50
62.75
63.00
63.50
62. 75
63.00
63.50
62. 75
63.00
63.50
62.75
63.00
63.50
62.75
63.00
63.50
62.75
63. 00
63. 50
62.75
63.00
63. 50
62.75
J-63. 00
*63. 50
783
1, 064
591
845
1,193
678
806
1,068
542
759
1,096
565
817
1,229
687
837
1,264
699
859
1,227
678
834
1,245
697
891
1,116
635
902
1,191
731
859
1,255
762
878
1,221
733
841
1, 202
'726
855
1,202
682
81
78
44
103
83
49
91
84
49
91
82
44
94
88
47
92
93
52
92
95
54
95
89
49
101
71
44
112
80
48
112
85
52
115
76
54
121
76
47
122
83
49
10, 578
130.3
9,515
115.3
9,474
122.8
10,485 10, 549
127. 1 132.1
11, 048
133.9
10, 173
127.4
10,095
122. 4
10, 503
127.3
10, 656
133.5
11, 555
140. 1
11,279
141.3
328
153
122
312
145
117
333
141
114
345
157
129
331
162
132
323
154
126
322
162
130
321
'141
112
317
137
108
316
157
124
344
162
127
340
'154
121
337
163
127
420
130
101
320
139
111
322
121
93
328
138
107
334
137
107
331
131
101
340
136
104
356
112
83
362
115
90
376
133
103
389
135
104
406
128
99
420
139
105
7,079
352
507
708
116
6,475
281
422
614
109
6,239
311
405
613
120
7,124
394
468
679
141
7,359
333
509
737
143
7, 065
7,271
344
385
503
543
679
699
129 „
129
6,869
334
526
688
105
6,993
352
524
669
89
7, 344
361
554
726
96
7,367
386
562
793
99
7,314
418
546
762
108
7,673
401
540
834
129
8,050
385
566
844
132
972
977
916
1,095
1,100
Bars and tool steel, total
do
621
631
680
702
700
Bars' Hot rolled (incl light shapes)
do
172
169
262
224
269
Reinforcing . . __ __
.
do
120
114
110
123
122
Cold
finished.
_
do
504
545
665
587
678
Pipe and tubing
do
221
226
276
262
259
Wire and wire products....
_
do....
563
494
545
488
507
Tin mill products
do
2,587
2,852 2,786 2,608 2,860
Sheets and strip (incl electrical) total do
833
777
735
878
829
Sheets: Hot rolled..
___.
do
1,211
1,316
1, 320
1,209
1,308
Cold rolled
do
Steel mill products, inventories, end of mo.:f
9.4
9.4
9.4
9.7
Consumers (manufacturers only).. .mil. sh. tons.. 10.0
4.8
5.2
4.8
5.3
Receipts during month
do
5.2
4.8
5.1
5.3
4.7
Consumption during month.......
do
5.0
3.5
3.4
3.4
3.4
Warehouses (service centers)
do.
3.7
Producing mills:
8.0
8.0
7.4
7.8
In process (ineots, semifinished, etc.)
do....
8. 4
7,6
7.2
7.3
Finished (sheets, plates, bars, pipe, etc.) .do
7.1
7.8
.0715
Steel (carbon X, finished, composite price.. .$ per lb_. .0705
. 0715 .0715 .0715
r
Revised.
J> Preliminary.
1 Less than 500 tons.
2 Reflects £idjustme nt to industry
levels as derived from complete canvass for 1962. A nnual sh ipments for 1962 Avere rais<3d by
10%, backlog (as of Dec. 31, 1962) by 9%; revisions foi• 1964 are pending
*New series. Monthly data back to 1953 are av ailable.
1, 140
722
283
126
759
299
556
2,884
843
1,327
1, 145
734
281
122
721
299
553
2,838
834
1,311
1,113
686
295
124
752
297
544
2,663
750
1,208
1,066
641
312
106
778
246
576
2,550
743
1,142
1,109
686
301
114
741
260
538
2,712
788
1,208
1,142
709
304
121
733
273
476
2,984
879
1,341
1, 182
740
302
131
692
273
430
2,949
867
1, 279
1,145
745
265
126
610
234
399
3,092
862
1,458
1,170
755
266
139
671
227
415
3,286
901
1,572
1,199
848
186
155
601
273
635
3,415
955
1, 610
9.3
5.3
5.4
3.6
9.2
5.1
5.2
16
9.2
5.2
5.2
3.6
9.5
4.7
4.4
3.7
9.5
4.8
4.8
3.8
9.6
5.4
5.3
3.7
10.0
5.1
4.7
3.8
10.5
5.5
5.0
3.9
'11.2
'6.0
5.3
4.1
pll.9
v 6. 0
v 5.3
*4.1
Pig Iron and Iron Products
Pig iron:
Production (excluding production of ferroalloys)
thous. sh. tons..
Stocks (consumers' and supplfers'), end of mo.
thous. sh. tons..
Prices:
Composite$ per Ig. ton..
Basic (furnace)
do
Foundry No 2 Northern
do
Castings, gray iron:
Orders, unfilled, for sale, end of mo.
thous. sh. tons..
' Shipments total
do
For sale
do
Castings, malleable iron:
Orders, unfilled, for sale, end of mo.
thous. sh. tons. _
Shipments total
do
For sale
do
5,993
6,057
2,814
Steel, Crude, Semifinished, and Finished
Bteel ingots and steel for castings :
Production
thous. sh. tons.. 9, 105
Index..
._
1957-59=100 . 112. 5
Steel castings:
Orders, unfilled, for sale, end of mo.
219
thous. sh. tons..
125
Shipments total
do
100
For sale, total ___ .
do
Steel forgings (for sale) :
'2342
Orders, unfilled, end of year or mo.
_ - _ do
'2129
Shipments total
do
••298
Closed die (drop upset press)
"do
Steel products, net shipments:
Total (all grades)
do
Semifinished products
...
do
Structural shapes (heavy) steel piling do
Plates
do
Rails and accessories
do
6,296
263
443
603
92
7.9
7.6
.0715
62. 75
11, 599 '11,830 * 10, 836
140.6 ' 143. 4 P145.4
8.4
8.3
9.1
8.6
9.0
*9.2
8.6
8.8
8.8
7.6
7.7
8.3
*8.6
7.5
8.7
7.6
7.8
8.5
.0715
.0715
.0715
.0715
.0715
.0715
.0715
.0715 .0715
. 0715
UBc ginning Sept. 1963, impor ts reflect adoption of the Lr.S. Tariif Schedules; data may not
be str ictly cornparable with fii;ures for prior pe riods.
fEfl fective 0 ct. 1963 vSURVEY, data for steel con sumers r eflect rec alculatecI estimat es based
on qu antity cc verage f actors. Revision 3 back tc Oct. 19C>1 appear in the 0 ct. 1963 SURVEY.
STJKVEY OF CUEKENT BUSINESS
March 1965
Unless otherwise stated, statistics through 11962
and descriptive notes are shown in the 963
edition of BUSINESS STATISTICS
1964
1963 | 1964
Monthly
average
S-33
Jan.
Feb.
Mar.
Apr.
May
June
1965
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
METALS AND MANUFACTURES—Continued
IRON AND STEEL— Continued
Steel, Manufactured Products
Fabricated structural steel:
Orders, new (net)
Shipments
_ _
Backlog, end of year or mo
386
316
2, 740
thous. sh. tyns
d<»
.— d<L. _
336
341
2,322
375
353
2,712
356
310
2,306
247
304
2,270
384
355
2,313
387
360
2,276
368
377
2,261
478
412
2,300
347
379
2, 490
379
374
2,497
408
362
2,599
355
379
2,575
433
320
2,727
358
309
2,712
Barrels and drums, steel, heavy types (for sale);:
Orders, unfilled, end of mo. _ _ _
th<ms
Shipments __
db
Cans (tlnplate), shipments (metal consumed),
total for sale and own useO
- thous sh. tons
1,273
1,922
1,257
2,024
1,184
1,858
1,202
1,812
1,389
1,955
1,379
2,108
1,334
1,960
1,273
2,110
1,360
2,146
1, 248
2, 179
1,246
2,257
1,165
2,032
1,146
1,875
1,154
1,950
'381
396
342
293
340
383
381
432
467
519
500
426
329
334
192. 7
59.0
212.7
212.0
63.0
200.2
62.0
214. 2
67.0
208.3
69.0
214.6
63.0
203.7
56.0
216.1
51.0
217.2
51.0
211.3
51.0
218.4
58.0
214.0
50.0
222.8
34.7
3.4
13.8
32.7
4.1
17.4
34.3
4.6
16.8
28.8
4.3
13.0
36.5
4.1
15.9
35.2
4.9
20.0
35.6
4.1
20.4
36.8
4.6
17.2
40.4
5.4
14.6
26. 7
3.4
18.9
44.3
3.5
19.1
25.6
3.3
17.2
20.3
3.8
15.1
27.8
3.7
20.3
12. 9
1.1
105.6
.2262
103. 5
.2372
108.0
.2300
107.8
.2300
106.0
.2343
93.3
.2350
99.5
. 2350
87.0
.2383
92.0
.2400
104.3
. 2400
109. 9
.2400
121.4
.2400
116. 1
.2410
96.9
.2434
. 2450
mil. lb__ 527.8
' 355. 3
djo
165.5
__d|o
7SU
_ dio
587. 7
397.7
185.6
82.8
542.5
358.5
167.1
90.7
530.4
354.8
167.8
84.2
644.1
430.1
221.7
88.5
610.6
414.3
190.8
90.1
597.9
399.1
191.7
85.7
643.4
418.2
202.2
87.2
567.3
401.0
180.4
70.0
559.9
385.4
.178.8
76.9
602.7
398.6
181.0
82.4
576.2 ' 530. 4
411. 2 ' 379. 4
183.8 '169.4
72.2
80. 0
646.9
421.9
191. 9
85.6
101.1
133.0
101. 6
31.4
24.0
104.2
138.0
105. 0
33.0
27.7
107.3 ' 107. 5
140.4
147.1
103.4
109.8
37.3
37.0
24.1
22.4
r 112. 1
145.0
109.6
35.4
29.4
111.9
144.9
113. 3
31.6
27.0
115.4
147.9
111.7
36.2
27.0
113. 8
153.4
116.1
37.3
28.5
'73.9
125. 2
94.2
31. 1
27.4
77.7
110.8
78.1
32.7
27.2
93.1
110..4
83.0
27.4
27.1
115. 3
140.4
107.9
32.4
32.0
111.1
134.8
110.7
24.1
26.6
111.7
156.1
121.9
34.2
33.7
115.6
146. 6
115.0
31.6
31.4
45.1
9.9
48.7
11.5
45.9
8.9
35.4
11.3
60.0
10.3
42.1
10.9
50. 6
10.7
48.0
11.4
47.9
12.5
45.5
12.6
51.1
14.1
52.4
9.5
36.3
11.4
69.8
14.0
26.2
6.7
30.0
26.0
146.2
35.6
26.4
154.9
34.3
29.5
150.7
31.4
26.6
152. 0
33.2
25.4
162.2
33.6
28.2
163. 8
33.4
25.9
163.9
33.4
25.7
178 5
33.9
25.1
114.4
24.9
16.4
150.4
33.8
22.7
152.1
40.5
26.8
162.4
40.2
27.0
148.6
i.Jo
ifo
$ purlb..
175.4
96.0
.3060
142. 5
94.2
.3196
135.0
80.9
.3060
140.4
90.9
.3060
140.7
88.8
.3112
135.9
88.2
.3160
132. 9
86.4
.3160
125.6
90.2
.3160
163.2
116. 0
.3160
157. 1
108. 1
.3160
147.0
92.6
. 3223
138.5
87.2
.3361
144.2 ' 149. 6 * 158. 2
90.7 ' 110. 0 v 91. 9
. 3366 .3370
. 3360
Copper-base mill and foundry products, shipments
(quarterly avg. or total) :
Copper mill (brass mill) products.
mil. lb—
Copper wire mill products©
_.
...do
Brass and bronze foundry products..
do
616
428
239
697
498
266
Lead://
Production:
Mine, recoverable leadj........ thous. sh. tonsSecondary, recovered from scrap®
do
21.1
41.1
23.6
24.8
39.9
22.7
39.6
24.4
42.6
24.0
42.3
23.5
45.9
24.0
42.3
23.4
41.0
23.5
42.0
22.8
46.1
23.5
46.0
23.4
44.0
23.3
23.6
31.3
96.9
27.8
32.4
105. 4
37.7
93.7
31.2
92.1
26.0
97.4
26.4
96.7
32.1
100.6
27.6
91.5
23.2
98.2
23.3
100.9
28.8
104.4
19.2
100.9
26.3
31.2
110. 2
98.4
109. 5
117. 4
111.5
109.2
97.7
94.1
94.0
96.5
92.9
94. 4
90.8
98.4
47.3
111.2
45.2
111. 4
45.6
118.6
40.6
120.3
30.1
117.7
29.0
127.5
30.9
132. 7
32.9
119. 9
36.5
120.5
40.9
125.7
38.2
115.3
67.2
.1298
71.9
.1300
72.8
.1300
70.8
. 1300
67.4
. 1300
65.1
.1300
66.5
.1300
63.6
. 1301
57.4
.1400
60.6
.1450
61.8
. 1500
.1566
.1600
738
3,146
2,025
255
7,165
5,085
2,046
2, 227
1,985
260
7,285
5,190
313
2,272
2,050
235
7,265
5,235
301
2, 530
2,130
260
7, 315
5, 130
498
2,968
1,695
260
6,430
4,805
451
4,194
1,860
220
6,885
5,040
505
2,045
1,890
245
6,750
4,730
357
2,407
2,090
300
6, 655
4,620
312
1,768
1,875
275
6, 190
4,245
268
2,422
1,980
285
6,795
4, 680
473
1, 845
1, 079
964
21, 810 20, 120
1. 3482 1.3351
343
19, 600
1. 3485
290
18, 560
1. 5060
160
18, 480
1.5965
311
22, 635
1. 6167
162
182
23,225 20,420
1. 8538 2.0461
90
21,285
1. 9027
403
24, 435
1.6311
NONFERROUS METALS AND PRODUCTS
Aluminum:
Production, primary (dom. and foreign ores)
thous. sh. tons _
Estimated recovery from serapt—
do
Imports (general) :
Metal and alloys, crude
do
Plates, sheets, etc
do
Exports, metal and alloys, crude
-do
Stocks, primary (at reduction plants), end of mo.
thous. sh. tons..
Price, primary Ingot, 99.5% mln
$ per Ib
Aluminum shipments:
Ingot and mill products (net) A
Mill products, total _
Plate and sheet (excl. foil).
Castings
,
...
Copper:
Production:
Mine, recoverable coppert-.... thous. sh. tons..
Refinery, primary
ck)
From domestic ores
_
cio
From foreign ores. ...
clo
Secondary, recovered as refined
<lo.___
Imports (general):
Refined, unrefined, scrap©f
__.<!o— _Refined
<Io
Exports:
Refined, scrap, brass and bronze Ingots do ...
Refined
_
<lo
Consumption, refined (by mills, etc.) . _ _ _ . . do
Stocks, refined, end of mo., total. _
Fabricators'
Price, bars, electrolytic (N.Y.)
Imports (general), ore®, metal!
Consumption, totalf
_
..do....
do
Stocks, end of year or mo.:
Producers', ore, base bullion, and In process©
(ABMS)
-thous. sh. tonsRefiners' (primary), refined and antimonial
(lead content)
.thous. sh. tons—
Consumers' cf....
_
do.
Scrap (lead-base, purchased), all smelters
thous. sh. tons. .
Price, common grade (N.Y.)
$perlb__
Tin:
Imports (for consumption) :
Ore©
__i g . tonsBars, pigs, etc.
do
Estimated recovery from scrap, total©
do...
As metal.—
...„.
__ do
Consumption, pig, total
....do
Primary
do
56.7
119.9
692
467
259
66.4
.1114
. 1360
C1)
3,596
1,861
255
6,525
4,601
2,632
1,948
254
6, 830
4,800
1,249
3,227
1, 770
190
6,580
4, 710
1,705
2,378
2,020
260
6,750
4,790
328
21,917
1.5772
207
27, 185
1. 3402
297
25, 245
1. 4012
Exports, Incl. reexports (metal).. _.
_. do.
135
Stocks, pig (industrial), end of mo§. ... do
25, 610
Price, pig, Straits (N.Y.), prompt—I per fb_~ 1. 1664
Zinc://
Mine production, recoverable zincj
44.1
_ •• •,
thous. sh, tonsf.
Imports (general) :
Ores©f
„__
_. do
31.1
12.1
Metal (slab, blocks)^
_ _ _ _ _ _ do
Consumption (recoverable zinc content):
Ores©
do....
8.7
Scrap, all types.. _.
__.__
.......... do— . 17.0
0)
"54.2
21.6
37.0
15.4
160.2 "166.4
.3360
r
699
484
256
665
519
'267
47. 7
49.2
45.1
48.4
47. 0
46.9
46.9
47.7
49.3
46.8
50.3
47.4
32.2
10.6
28.5
10.5
27.6
9.7
35.9
9.1
33.5
8.9
29.1
7.9
28.9
9.6
24.6
9.3
29.8
9.6
30.5
12.3
32.9
9.4
8.2
16.7
7.4
16.4
8.0
16. 5
8.9
16.9
7.2
16.9
8.9
17.1
8.5
17.1
8.7
16.2
8.0
16.7
7.6
16.9
8.5
16.6
8.0
16.8
1. 5726
.1600
1. 5498
47.5
29.8
9.9
23.6
11.4
8.7
16.6
'Revised.
* Preliminary.
1 See note "©" for this page.
0Reflects new factors to derive tonnage equivalent (1963, 23.5 base boxes per ton of steel;
1962, 23.2 boxes); revisions back to 1961 are available.
t Effective Dec. 1964 SURVEY, data for all periods represent estimated industry recovery
of aluminum (excluding alloying constituent 0.
ABeginning Jan. 1962, net shipments of iu got derived by new method to include imports
not previously included; revisions back to Jan. 1961 are available. {Revisions for 1962 are in
the Sept. 1963 SURVEY: those for 1st half 196* are available upon request.
732
521
281
. 2450
29.1
12.1
©Basic metal content (for tin ore, Sept. 1963 through Apr. 1964 data are in terms of gross
weight).
KSee similar note, bottom p. S-32.
'/Beginning Aug. 1964, data reflect sales to the industry of metal released from the Government stockpile.
d" Consumers' and secondary smelters' stocks of lead in refinery shapes and in copperbase scrap.
§Stocks reflect surplus tin made available to industry by GSA.
SUEVEY OF CURRENT BUSINESS
S-34
Unless otherwise stated, statistics through 1962
and descriptive notes are shown in the 1963
edition of BUSINESS STATISTICS
1963
| 1964
Monthly
average
March 1965
1964
Jan.
Feb.
Mar.
Apr.
May
June
1965
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
METALS AND MANUFACTURES—Continued
NONFERROUS METALS AND PROD.— Con.
Zinc— Continued
Slab zinc: H
Production (primary smelter), from domestic
anu loreigji ort5a_-.___
- ,.
. .
Consumption, fabricators'
—do
Stocks, end of year or mo.:
Producers* at smelter (AZI)A
do
Price, prime Western (St. Louis) ___.$ per lb._
HEATING EQUIPMENT, EXC. ELECTRIC
Radiators and con vectors, shipments:
Cast iron
mil. sq. ft. radiation..
Nonferrous*
•
-do
Oil burners:
Shipments
-thous__
Stocks end of year or mo
do
Stoves and ranges, domestic cooking:
Shipments, total (excl. liquid-fuel types). ._do___.
Qasc?
QQ
Stoves domestic heating shipments, total
do -Gas
do
Warm-air furnaces "(forced-air and gravity air-flow),
shipments, total
___________.thous~
Oas
^
do
W"ater boaters gas shipments
- -- do__-~
MACHINERY AND APPARATUS
Fans, blowers, and unit heaters, qtrly. totals:
TJnit heater croup new orders
do
Foundry equipment (new), new orders, net
mo. avg. shipments, 1957-59=100Fumaces (industrial) and ovens, etc., new orders
(domestic) netf
mil. $—
Electric processing
do.
Fuel-fired (exc. for hot rolling steel)
do.—
Material handling equipment (Industrial):
Orders (new) index seas adj
1957-59—100
Industrial trucks (electric), shipments:
74.4
5.0
92.1
2.8
80.6
5.3
99.0
2.2
76.0
4.8
91.7
.4
76.8
4.9
86.9
2.4
86.0
5.2
95.2
1.7
83.7
4.7
100.0
2.6
84.8
5.3
98.3
3.6
80.9
5.2
99.5
2.7
78.9
4.9
94.7
4.4
80.7
5.4
100. 9
2.6
77.6
4.8
108.6
4.1
81.8
6.3
109.6
1.6
80.0
5.8
100.4
.1
80.2
5.9
102.8
.3
47.9
92.1
.1200
32.0
102.9
.1357
48.2
92.1
.1300
43.6
92.5
. 1300
46.0
93.9
.1300
43.5
89.4
.1332
38.0
85.6
.1350
30.4
87.2
.1350
25.7
89.5
.1350
29.5
83.5
. 1350
33.9
30.6
99.1 ••103.0
.1399
.1350
36.4
'98.0
.1450
32.0
102.9
.1450
.9
8.1
.9
8.2
1.1
7.4
.8
7.0
.5
8.1
.7
9.9
.7
9.0
.9
10.5
1.2
13.6
1.3
12. 9
.8
9.6
1.0
9.2
34.4
28.4
. 1450
.1450
48.8
42.2
47.4
42.6
42.3
44.1
41.7
44.2
40.2
47.9
36.6
49.8
38.5
54.5
48.1
59.5
42.8
54.4
62.0
50.5
66.7
46.2
62.9
41.9
50.6
39.5
35.6
42.6
176.0
173.1
182.9
180.4
158.1
156.0
167.7
165.7
200.0
197.4
195.4
193.5
173.1
171.1
189.7
187.2
162.1
159.6
196.3
193.5
203.9
200.7
205.0
201. 4
174.6
172.5
168.4
166.4
161.9
101. 5
151. 1
102.4
91.0
54.3
70.8
38.7
112. 9
77.5
89.6
53.4
100.6
60.8
171.0
122.6
205.4
142.8
222.4
158. 7
231. 9
160.4
283.7
132.9
92.5
101.0
72.2
117.8
95.3
200.3
119.1
97.0
223.6
95.8
79.2
248.3
95.9
79.4
237.1
99.3
82.9
244.9
99.7
84.3
237.7
96.1
80.4
.98.9
111.6
93.1
215.0
120.5
100.7
213.2
139.7
111.3
213.0
169.1
131.3
230.7
121. 9
97.0
190.5
109.7
89.4
197.2
141.0
115.7
145.6
U8.7
131. 9
218. 6
235.8
272.9
242.6
244.1
221 A
138.2
157.8
122.1
201.6
358.5
380.8
8.2
1.1
3.4
9.6
1.1
4.8
5.8
.8
2.4
9.7
1.0
5.7
10.5
1.3
6.8
7.4
1.2
3.8
7.4
1.0
3.7
7.5
1.2
3.2
9.2
.9
3.6
10.8
1.0
6.8
11.1
1.2
5.3
13.7
1.8
6.4
8.3
1.1
4.1
13.6
1.4
5.6
13.8
1.3
5.1
172.5
41.6
13.2
251.8
194.9
170.2
134.6
256.5
r 46 1
49.7
18.0
45.1
18.3
25.4
176.0
146. 5
153.3
170.8
158.1
127.4
127.8
156.9
150.6
149.7
148.0
164.8
Rider-type
do
Industrial trucks and tractors (internal combustion
engines), shipments
number-
547
581
574
594
491
484
515
609
548
578
581
510
581
523
653
636
581
519
473
585
555
632
604
688
585
671
2,434
3, 014
2, 543
2,518
2,862
3;032
2,961
3,109
3,003
2, 730
3,127
3,316
3,208
3,762
2, 944
Machine tools:
Metal cutting tools:
Orders new (net) total
mil. $_
"Domestic
_ _ _ _ _ _do__
Shipments total
do
Domestic
do _
Estimated backlog
•*months
59.50
47.50
49.90
41.10
5.2
81.35
67.40
65.95
53.05
6.6
80.15
60.60
50.35
39.85
6.2
74.50
60.45
51.25
39.10
6.3
77.70
61.40
63.80
48.45
6.4
91.55
79.55
64.85
52.35
6.7
85. 00
70.10
70.75
57.50
6.6
100.10
83.35
73.80
62.25
6.6
78. 10
66.50
60.00
51. 70
6.7
73.80
62.65
60.90
51.20
6.8
83.60
68.00
72.30
56.85
81.00
69.95
57.85
«• 81. 05
' 70. 75
71.65
6.9
6.8
65. 65
52. 75
6.8
r 70. 35
'6.3
81.10
71.35
69.60
59.75
6.4
18.10
15. 90
15.30
12.80
4.7
32.35
29.40
19.00
16.70
9.9
48.80
47. 40
15. 00
12. 40
7.6
20.30
18. 85
19.15
16.15
7.7
24.10
19.35
16.90
•15. 40
8.0
45.80
43.30
19.80
18.25
8.9
32.55
30.35
18.20
36.50
9.3
63.10
56.95
21.40
19. 85
10.8
27.90
25.45
18.80
16.30
11.1
15.80
14.90
17.35
14.10
10.8
25.40
20.55
11.9
1.9
5.5
Metal forming tools:
Orders now (net), total
Domestic
Shipments total
Domestic
Estimated backlog
._
mil. $__
do
do
do
months
128.7
152.0
Other machinery and equip., qtrly. shipments:
Construction machinery (selected types),
total 9
mil $ i 312. 3 i 375. 4
178.5 199.4
Tractors tracklaylng total
do
J
23.0 128.0
Tractors wheel (con off -high way)
do
Tractor shovel loaders (integral units only),
wheel and tracklaying types
mU. $— 173.6 187.8
Tractors, wheel (excl. garden and contractors'
1 150. 9
off-highway types)
<
mil $
Farm machines and equipment (selected types),
1213.7
excl tractors ©
mil $
ELECTRICAL EQUIPMENT
Batteries (auto, replacement), shipments.._.thous__ 2,653 2,442
Household electrical appliances: •
163.8
155.8
Refrigerators and home freezers, output 1
1957-59=100.. 127.8 P 141.9
375.6
Vacuum cleaners sales billed
thous
353.9
329.1 349.1
Washers, sales (dom. and export)--.
do
Driers (gas and electric), sales (domestic and
152. 2
export)
__f
thous— 133. 0
472.2
119.6
37.2
344.7
79.6
27.3
r 367. 6
105 0
27 2
~
86.2
109.0
200.1
266.6
19.45
18.70
11.1
23.95 r 38. 25
20.40 ' 36. 35
20.35 r 24. 20
18. 10
11.2
*• 22. 00
'10.9
20.60
19.40
20.25
18.75
11.2
317.0
93 2
20.4
~~ ~
219 2
1,653
1,394
1,602
144. 4
165. 8
194.1
131.3
324.7
302.5
150.3
365.0
330. 0
150.8
420.5
372.0
142.8
135.8
121.1
3,146
22.75
.21.15
'86.50
120 4
277.6
54.40
83 6
189.1
2
r Revised.
*> Preliminary.
i Quarterly average.
For month shown.
cover 5 weeks; other months, 4 weeks.
9 Includes data not shown separately.
|| See note "||", p. S-33.
A Producers' stocks, elsewhere, end of Feb. 1965, 9,100 tons.
*New series. Shipments (from The Institute of Boiler and Radiator Manufacturers)
represent the following approximate percentages of total industry shipments: Convectors,
90 to 95%; radiators and baseboards, 80 to 85%.
d* Includes data for built-in gas fired oven-broiler units. Shipments of cooking tops, not
included in figures above, totaled 23,800 units in Nov. 1964; data are n.a. for Dec. 1964.
2,269
72.6
3,057 r 3, 594
2,999
3,550
152. 3
172.7
165. 0
165.9
102. 3
389.9
384.7
158.3
435.1
r 152. 2
462.0
118.9
437. 9
391.0
248.4
233.8
199.4
2,631
1,591
1, 816
157.4
153.4
163.7
142.7
151.5
383. 8
299.2
150.9
337.8
300.8
163.0
335.2
345. 8
128.5
294. 9
351.6
90.2
71.6
90.5
126.1
172.0
Radio sets, production§
_*_
do
1, 523. 5 1, 598. 0 1, 413. 3 1,367.9 31,639.1 1,337.4 1,410.7 31,770.9
797.5 731.1 751.5 3 877. 9
594.2
584.2 3 835. 5
Television sets (incl. combination), prod.§_._do
712.7
Electron tubes and semiconductors, factory sales ©
54.4
52.1
56.9
52.4
51.4
73.6
52.6
53.9
mil. $—
161
167
Insulating materials, sales, index
1947-49=100—
163
154
154
148
146
165
Motors and generators:
New orders index qtrly
do
159
U51
i 178
186
New orders (gross) :
Polyphase induction motors, 1-200 hp.-.mll. $__
14.9
14.4
12.4
15.3
12.4
15.2
17.9
13.5
D.C. motors and generators, 1-200 hp
do____
2.6
3.0
3.4
2.8
3.5
2.6
2.8
3.6
15.90
13.10
11.1
67.70
724 ____564
694 —566
409.6
333.8
2,345
187.6
'141.3 P141.6
377.9
372.4
305.8
316.1
193. 1
144. 2
1,055.5 1, 633. 4 32,193.8 1, 692. 8 1, 700. 0 81,961.6 1, 702. 1 1,826.2
745. 1 853.5
913.8 3 931. 6
956.3
517.4
705.8 31,052.7
44.1
136
54.1
160
60.2
167
14.8
2.6
14.9
2.8
15.8
2.5
59.4
170
57. 1
"163
58.7
181
15. 5
2.7
15.8
2.5
18.1
4.5
191
176
14.7
q O
fAs reported by the Industrial Heating Equip. Assoc. for member companies, including
orders (not shown separately) for indust. ovens, atmosphere generating and combustion
equip., and miscel. items. Monthly data back to 1958 are available.
©Revisions for
1962 appear in the June 1964 SURVEY.
f Revisions for 1961 are available.
tRevisions for 1962-63 appear on p. S-34 of the Apr. 1964 SURVEY.
.
§Radio production comprises table, portable battery, auto, and clock models; beginning
Jan. 1964, data for television sets include color sets.
©See similar note, p. S-35.
SURVEY OF CURRENT BUSINESS
March 1965
Unless otherwise stated, statistics through 1962
and descriptive notes are shown in the 1963
edition of BUSINESS STATISTICS
1963 j 1964
S-35
1964
Monthly
average
Jan.
Feb.
Mar.
May
Apr.
June
1965
Aug.
July
Oct.
Nov.
Dec.
Jan.
Feb.
1, 275
1,278
1,348
61
1,262
1 045
14. 196
Sept.
14. 196
PETROLEUM, COAL, AND PRODUCTS
COAL
Anthracite:
Production
thous. sh. tons
Exports
_
do
Prices:
Retail, stove, composite _
$ per sh. ton.
Wholesale, chestnut, f.o.b. mine__
__do
Bituminous:
Production
1,52
r
1,38
279
29.39
13.361
1,155
86
31.35
14. 490
13. 89
••1,441
149
1,427
248
13
31. 40
14. 490
31.40
14. 490
31.40
13.195
1, 591
1, 665
84
1,789
thous sh tens
38,244
40, 167 r'41, 743 r35,830 r37 850 r38 592
34, 102
17,420
14, 664
6,469
35,918
18, 586
15, 638
7,388
39, 768
20, 389
16, 411
6,789
1,962
1,635
2,968
2,496
1,872
1,030
518
562
65, 692
46,139
19, 103
7,373
63,843
48, 762
20, 15:
8,667
66, 536
46, 422
19,659
7,780
64, 430
44, 961
19, 121
7,900
63, 041
43, 717
19, 070
8,299
65, 043
45, 045
19, 743
8,411
68, 619
47, 886
20 420
8,841
70, 700
49, 331
21 012
9,375
348
254
255
313
357
4, 551
Retail deliveries to other consumers
do _
Stocks, industrial and retail dealers', enc of
month, total 9
thous. sh. tons.
Electric power utilities
_di>___
Mfg. and mining industries, total
d')__
Oven-coke plants.
d'>___
36, 755 »-36,440 '33,055
18, 732 r 18, 465 16, 666
15, 525 16, 098 ' 15, 303
6,540 r 7, 016 r 7, 045
38 900
32, 702
16, 757
15 324
7,537
13.699
r
Industrial consumption and retail deliveries
total 9
.
thous. sh. tens
Electric power utilities
____
__do___
Mfg and mining industries, total __
do
Coke plants (oven and beehive)
do__
r
158
1,240
13. 699
13. 699
17
30.69
13.19
1,245
142
1,127
30.30
13. 195
15
41 613 r31 987 41 949
r
128
r
43 275
33, 218 >-33, 764 ' 34,613 34, 470
17, 997 18, 794 18, 685 18,013
14 568 *-14,237 »• 14,774 r 14, 864
7,482
7 350 r 7, 447 ' 7, 457
do.__
450
366
455
Exports
„
do___
Prices:
Retail, composite- _
$ per sh. t;on
Wholesale:
Screenings, indust. use, f.o.b. mine
da .
Domestic, large sizes, f.o.b. mine
da___
3,923
3,997
3,152
3,065
3,028
3,523
17.89
17.89
17.89
17. 76
17.31
4.731
7.221
4.731
7.026
4.807
6.524
4.832
6.482
82
78
4,485
1,343
4 821
1,457
*-88
4 855
1 366
5 192
1 409
2 567
2 141
2,421
2 008
2 337
1 909
'429
1 379
1,501
65, 616 , 67,682 71,892
46, 921 48, 443 51,279
18, 306 18,823 20, 185
7,461
7,976
8,643
r
45 439
78
r
14. 196 *>14. 437
41 463 r42 959 f 39 390
36 270
37, 415 '36,964 '41,847
18, 682 18, 678 21, 174
16 449 r!6 355 '17,747
7, 964 r 7 870 ' 8, 156
1 851
2, 906
75 153 77, 283
53, 697 54 785
21 061 ^22 087
9 343
9,873
75, 360
52, 661
22, 323
10,099
2 190
17.23
4.726
7.276
1,066
655
120
Retail dealers.. .
.„
COKE
Production:
Beehive
Oven (byproduct).
Petroleum coke§
Stocks, end of month:
Oven-coke plants, total
At furnace plants
At merchant plants
Petroleum coke.
Exports
thous. sh. tons
do
do__
17.46
i 4. 748
17.014
81
4.798
6.895
98
4,442
1,344
5,075
1, 405
r
2,972
2 275
697
1,200
38
2,392
1,982
410
1,354
45
'•2 821
r 2 370
2,672
2 253
451
418
Crude petroleum:
2 1, 691
Oil wells completed
number
2.93
Price at wells (Okla.-Kansas)...
$ per bbl
264.2
Runs to stills
.mil. bbl
87
Refinery operating ratio
_% of capacity. -
•1,718
2.92
270.1
87
1, 567
2.92
273,3
88
327.4
337,7
229.4
33.4
233. 8
35.0
34.4
30.2
36,6
32.4
___do___
do
do__
____do___
do
_
4 660
1,440
1,284
19
1, 313
23
r gg
426
1,329
27
413
1,359
25
90
83
389
416
428
395
411
376
4,038
5,250
4,263
4 973
3 718
3,791
4.840
6.513
4.832
6.657
4.829
6.800
4.814
6.987
4,810
7.016
4 810
«• 7. 094
5 037
1 436
79
r(J7
5 164
1,501
5,138
1, 415
5 141
1 349
2 281
1 862
2 353
1 876
1 393
1 417
2 357
1 878
r 479
1,379
2 359 r 2 346
1 915
1 973
T 373
444
1 339
1 324
4,617
419
40
477
61
r 90
r
59
105
115
5 476
l' 382
36
63
1 892 1 945
2 92
2 92
281 0
269 1
1 705
2 92
273 3
4.810 v 4. 810
7.144 * 7. 180
154
5 564
1,412
155
5 604
2 211 r i 975
1 888 1 713
'262
323
1 375 1 359
36
62
1 S56
r
138
5 370
1 354'
1 fi34
221
PETROLEUM AND PRODUCTS
All oils, supply, demand, and stocks :J
New supply, total.....
_
....mil. bbl
Production:
Crude petroleum
co
Natural-gas liquids, benzol, etc
_co
Imports:
Crude petroleum
co
Refined products.
co
Change in stocks, all oils (decrease,— )_.._co
Demand, total.
,
Exports:
Crude petroleum.
__._
.
89
87
84
363.1
326 0
345 7
335.4
334.3
321 9
238.1
36.4
224 5
34.1
240 6
36.0
233.1
34.0
235 8
34.4
228 3
32.9
.3
39 6
49.0
-22.8
32 2
35 2
-9.9
36 9
32 2
33 1
35 2
8.8
36 0
28 2
24.7
34 4
26 3
6.4
84
88
1 836 1 662
2 92 p 2 92
2 92
279 8
88
85
9fi9 R
88
87
340 2
335 5
325 0
343 9
330 3
350 5
233 7
34.5
232 6
34.9
227 9
34.7
237 3
35.6
230 7
35.5
242 3
37.0
40 7
27 2
16.6
36 9
25 6
39 2
31 8
OA t
1.1
43 8
28 1
12.9
320 8
327 3
319 0
321 8
.2
6.0
312.8
150 1
12.8
5.6
316.2
145 6
13.7
41.4
36 7
10.7
87
86
1.8
4.2
040 i
qoc i
31 7
39 5
-43.2
oqo Q
6.5
335. 6
147 8
15.8
5.4
320.7
131 5
15.1
.1
6.2
387.4
145 5
20.7
48. 1
38 3
10.6
56.8
45 1
9.8
65.9
45 7
9.7
94.5
61 2
7.3
3.7
29.0
3.2
on n
Refined petroleum products :J
Gasoline (incl. aviation) :
Production
Exports
Stocks, end of month
_
337.4
385 8
335 9
339 4
326 6
309 7
.1
.1
.1
6.7
379.0
130.5
21.2
.2
.1
4.8
331. 0
121.8
17.7
6.0
333.1
135.5
15.2
6.4
320.1
140.6
12. 6
.2
320.9
3136. 0
3
14. 4
6.0
331.2
142.0
14.9
.1
5.7.
303.8
144 9
11.1
6.4
314. 2
153 5
10.3
.1
6.7
320.5
156 7
12.3
362.3
344.9
9.6
62.4
46.3
9.9
96.1
66.4
9.7
81.5
53.4
8.4
73.4
49.7
9. 5
59.6
48.2
10.3
46.8
37.5
10.4
43.8
35 7
11.9
10.3
3.6
9.8
319.7
3.8
10 0
20.4
4.0
33
27.8
3.4
33
22.2
3.8
4 3
19.9
4.4
71
16.9
3.6
no
15.8
•1 C
4.3
e
IK 7
1A 7
3.7
3.9
15.7
17.6
18.6
18.8
20.9
3.6
7.9
21.9
do
do
do
do
,
327.3
d0
do
do
__
.
Co
do
do
do
Stocks, end of month, total...
Crude petroleum... _
Natural-gas liquids
Refined products
831.1
246.9
33 8
550.4
844.7
242.5
38 7
563. 5
812.8
241.0
28 4
543.3
802.9
240.1
27 4
535. 4
809.2
246.9
29 9
532.5
818.0
253.9
34 1
530.0
842.7
257.3
843. 9
251.2
856.7
246.3
873.3
237.9
546.5
550.1
565.3
588.7
876.5
232.8
46.8
596.9
878. 2
235. 2
46. 1
596.9
882.5
236.8
43.2
602.4
839.2
230.1
35,7
573.5
do
do
do
135.4
.6
192.8
142.2
7
201.5
142.4
6
203.2
133.0
4
215.1
140.1
g
220.4
133.9
4
214.7
140.5
149.7
149.4
142.5
145. 9
141. 4
210.9
198.5
191.4
190.9
188.6
187. 2
197.2
147. 3
.8
199.5
.109
.102
.105
.100
.100
.095
.105
.103
.105
.093
.090
. 105
.113
.113
*113
201
oflo
1 Qfi
1QQ
.207
.201
.198
.201
.200
.202
.202
.198
Prices (excl. aviation)
Wholesale, ref. (Okla., group 3)
$ per gal
Retail (regular grade, excl. taxes), 55 cities"
(1st of following mo.)
$peigal
v Preliminary.
2 pan
i Q A ? ' i9!3 not.entireiy comparable with those for earlier periods.
exclude
3 See St,e 1 f O T ' S3*
condense wells formerly included.
9 Includes data not shown separately.
1 730 1 819
2 92
2 92
281 7
268 0
co
clo
do
Distillate fuel oil
Residual fuel oil
Jet fuel.—
n g
1 542
2 92
267 6
do
Domestic demand, total?
Gasoline
Kerosene
Lubricants
Asphalt
Liquefied gases
.1
1 628 1 564 1 566
2.92
2.92
2 92
269 9
256 8
258 4
140.1
K
41.2
4.0
.1
.1
.1
3.4
.192
§ Includes nonmarketable catalyst coke.
^Revised data for months of 1962 appear on p. 28 of the June 1964 SURVEY.
NOTE FOR ELECTRON TUBES, p. S-34—0 Beginning Jan. 1964, excludes sales
of receiving tubes; 1963 sales of such tubes averaged $22,800,000 per month.
SURVEY OF CUEEENT BUSINESS
S-36
1963
Unless otherwise stated, statistics through 1962
and descriptive notes are shown in the 1963
edition of BUSINESS STATISTICS
1964
March 1965
1964
Monthly
average
Jan.
Feb.
Mar.
Apr.
May
June
1965
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
PETROLEUM, COAL, AND PRODUCTS—Continued
PETROLEUM AND PRODUCTS— Continued
Refined petroleum products?— Continued
Aviation gasoline:
Exports
do
Stocks end of month
do
Kerosene:
Production
do
Stocks end of month
do
Price, wholesale, bulk lots (N.Y. Harbor)
10 4
.4
10.7
10 7
.5
9.4
10 0
.4
9.7
10 0
.2
10 8
10 6
.6
10 3
10 2
.2
10.3
10.5
.4
9.9
10 8
.5
9.2
11 7
.6
9.0
11 6
.6
8.9
11 2
.3
8.5
10. 1
.5
8.1
10 1
.5
8.7
10 9
.6
9.1
i 13.8
31. 7
14.1
33.4
17.3
30.9
14 7
28 5
14 3
28.5
12.5
29.1
11.7
30.5
11.6
32.8
12.7
34.4
13.4
36.0
13.9
37.3
15. 3
37.9
15.0
38.6
17.3
36.2
1
$ per gal
102
096
104
104
099
096
.094
.093
.093
.093
.093
.093
.095
.099
mil. bbl
Distillate fuel oil:
Production
163.8
.8
1.3
1 135. 8
61.8
1.0
.5
143.5
67.5
1.6
1.2
128. 5
62. 8
1.1
.4
110.5
61.7
.9
.6
99.2
57.6
.8
.3
97,8
60.8
.7
.3
112.2
61.1
1.0
.3
130.3
64.2
.6
.4
153.6
62.0
.9
.2
175.0
59.4
.9
.6
186. 7
59.0
.8
.5
189.4
58.7
.6
.3
182.6
Exports '
do
Stocks end of month
do
Price, wholesale (N.Y, "Harbor, No. 2 fuel)
092
086
094
094
089
086
.084
.083
.083
.083
.083
.083
.085
.089
P. 091
i 23 0
22.7
1.3
148 6
1 57
22 3
24.7
1.6
42.7
1 50
25 8
39.7
1.6
45.4
1 80
22 7
29.2
1.0
43.3
1 65
22 3
24.7
1.7
39.1
1 50
21 2
28.0
2.0
38 5
1 35
20.8
19.8
1.4
40. 5
1.35
19 5
17.7
1.9
40.4
1 35
21 6
20.5
1.5
43.0
1.35
21 1
18.4
1.5
44.6
1.35
21.3
18.9
•1.5
45.4
1. 35
22.5
24.7
1.9
45.9
1.50
23.5
23.3
1.3
46.1
1.65
25.7
24.7
1.6
40.4
1.80
pl.80
8.3
9.4
9.0
9.3
7.8
8.5
7.9
9.0
9.1
9.9
89
9.2
9.5
9.3
9.9
8.6
10.0
9.5
10.4
10.7
8.9
9.6
8.7
9.1
8.7
8.9
8.2
9.3
5.3
1.5
13.7
5.3
1.5
13.5
5.2
1.2
14.3
4.8
1.4
14.3
5.2
1.4
14 4
53
2.0
13 3
5.4
1.3
13.8
5.2
1.6
13.1
5.4
1.6
12.9
5.4
1.7
12.9
5.3
1.2
13.0
5.4
1.7
13.0
5.3
1.5
13.3
5.7
1.5
14.1
.270
.270
.270
.270
.270
.270
.270
.270
.270
.270
.270
.270
.270
.270
9.3
16.7
9.6
16.9
4.4
15.8
5.6
18.1
7.3
21.3
8.0
22 3
11.2
22.0
12.7
20.2
13.6
17.8
13. 7
15.4
12.5
12.8
11.7
11.1
8.2
11.7
6.1
14.2
14.7
15.2
4.9
15.6
5.0
22.1
4.7
17.1
5.2
15.0
4.8
12 3
5.2
11.5
5.1
11.4
5.1
12.8
4.9
14.0
4.6
14.1
4.9
16.3
4.6
17.1
5.1
22.9
130.2
35.2
24.3
22.9
25.4
29 4
34.9
39.5
42.3
43.9
44.3
43.6
40.6
31.8
3, 028
'1,172
r
1, 856
4,521
1,610
2,911
4,705
1,777
2,928
5 719
2,042
3 677
6,921
2. 389
4,532
7,586
2,545
5,041
7,870
2,819
5,052
7,212
2, 725
4,487
7, 396
2,811
4,585
7,378
2, 891
4, 487
5,258
2,114
3,144
3,587
1,407
2 180
3,374
1,386
1,989
43
31
^•64
60
36
88
48
44
78
50
57
74
49
65
82
55
75
95
65
74
99
64
68
97
77
75
91
85
82
91
71
47
74
48
27
59
45
25
64
$ r\ar oral
Residual fuel oil:
Exports
do
Stocks end of month
do
Price wholesale (Okla No 6)
$ per bbl
Jet fuel' (military grade only) :
Production
mil bbl
Stocks end of month
do
Lubricants:
Production
do
Exports
do
Stocks end of month
do
Price, 'wholesale, bright stock (midcontinent,
f o b Tulsa)
$ per gal
Asphait:'
Production
mil. bbl
Stocks end of month
do
Liquefied petroleum gases:
Production
__do
Transfers from gasoline plants
do
Stocks (at plants, terminals, underground, and
at refineries) end of mo
mil bbl
A sphalt and tar products, shipments:}
\sphalt roofing total
thous. squares
Roll roofing and cap sheet
_- do__
Shingles all types
do
Asphalt siding
Insulated siding
Saturated felts
__
*. 101
66.2
1.9
.4
155.8
5,372
2,009
3, 363
5,932
2,192
3,745
66
70
82
60
57
83
do
_____
do
thous. sh tons~_
r
P. 270
PULP, PAPER, AND PAPER PRODUCTS
PULPWOOD AND WASTE PAPER
Pulpwood:
Receipts.
thous. cords (128 cu. ft.) .
Consumption _
_
_
do
Stocks, end of month
_ __
do
Waste paper:
Consumption.
. thous. sh. tons
Stocks end of month
do
WOODPULP
Production:
Total, all grades
thous. sh. tons
Dissolving and special alpha.
do
Sulfate
--.._
do
Sulfite
——
do
Groundwood
___
Defibrated or exploded
Soda, semichem., screenings, etc
Stocks, end of month :
Total, all mills
Pulp mills
Paper and board m i l l s _ _ _ _ _ _ _ _ _ _ _ _ _ _ _
Nonpaper mills______
do
__do
do___ _
do
do
do___
do
3,835
3,870
5, 124
4,064
4, 027
4,763
4 030
4 055
4 936
4 175
3 906
4 981
4,157
4 126
4,987
3,843
4 119
4,690
3,992
4 213
4 428
4 120
3 952
4 478
4,186
3 898
4 660
4,254
4 151
4, 620
4,145
3 823
4,924
4,220
4 273
4,807
3,801
3 977
4 769
3,841
3 829
4, 875
796
501
783
480
741
490
748
477
799
470
821
476
803
468
795
467
686
485
827
476
797
474
861
468
787
482
737
522
2, 510
2,645
121
1 595
226
2,605
138
1 528
231
2, 530
2,706
106
1 634
246
2, 608
2, 624
1 543
'223
1 688
234
2,545
106
1 529
'222
2,818
1 729
'241
2,509
107
1 545
'211
2, 769
224
2,667
127
1 608
242
2,821
1 509
1 708
1 602
244
192
2,544
121
1 516
208
304
127
241
320
129
241
330
129
260
335
131
256
324
127
260
300
123
222
337
128
258
319
127
242
346
130
264
321
131
268
314
131
253
114
1,495
224
125
129
132
124
126
111
2136
2252
128
252
327
124
257
3 713
372
739
266
396
78
745
266
399
80
759
271
403
84
747
265
387
94
771
286
394
90
762
278
389
95
759
273
392
93
777
293
394
90
725
263
377
85
736
275
381
80
728
268
381
80
737
233
414
91
289
OOQ
78
749
270
392
87
Exports, all grades, total
Dissolving and special alpha
All other
__
do____
do
do
118
44
75
13*
48
85
132
43
89
120
42
78
139
55
84
138
46
92
143
55
88
127
40
87
141
62
79
143
36
107
134
55
7Q
121
46
75
112
42
70
152
59
Imports, all grades, total
Dissolving and special alpha
Allother
do— _
_do
do
231
22
210
244
23
221
235
22
213
224
21
203
265
23
242
228
26
202
225
18
207
256
23
°33
227
23
204
256
22
235
261
22
239
230
21
209
257
24
232
257
26
231
3 553
1 547
1 662
3 515
1 524
1 648
3 445
] 484
1 615
3 291
1*414
1 552
3 578
1 521
1 711
3 732
3 373
1 458 1 632
1 576 1 739
3 402
1 493
1 599
_
3
263
no
210
16
194
PAPER AND PAPER PRODUCTS
Paper and board:
Production (Bu. of the Census):
All grades, total, seas, adj
thous. sh. tons
All grades, total, unadjusted
_
do
Paper
do.
Paperboard
do
Wet-machine board
__do
Construction paper and board___
__do_. _
3,268
3, 441
3,276
3,477
3 395
1,438
1 505
1 448
1 515
1 535
1,522
1, 612
1,533
l'563
1,632
12
11
11
11
12
296
312
284
286
318
' Revised. ^ * Preliminary.
1 Beginning Jan. 1963, data for the indicated items exclude
o ™W
which have been reclassified as petrochemical feedstocks.
2 Effective Jan. 1963, "screenings, etc." included with "defibrated or exploded."
3
Effective Jan. 1963, excludes stocks of "own pulp" at paper and board mills.
11
333
12
331
3 235
1 480
1 507
' 12
12
9
12
10
11
13
333
317
336
327
349
299
236
tRevised monthly data for 1962 for petroleum products appear on p. 28 of the June 1964
SURVEY; revisions for 1962 and 1963 for asphalt and tar products appear on p. 32 of the Apr. 1964
SURVEY.
SUKVEY OF CURKENT BUSINESS
March 1965
1963
Unless otherwise stated, statistics through 1962
and descriptive notes are shown in the 1963
edition of BUSINESS STATISTICS
1965
1964
| 1964
Monthly
average
S-37
Jan.
Feb.
Mar.
Apr.
May
June
Sept.
Aug,
July
Oct.
Nov.
Dec.
Jan.
101. 4
109.9
96.4
93.3
Feb.
PULP, PAPER, AND PAPER PRODUCTS—Continued
PAPER AND PAPER PRODUCTS— Coil.
Paper and board— Continued
New orders (American Paper and Pulp Assou.):
Wholesale price indexes:
Printing paper
3 458
3 298
3 499
3 565
3 525
3 481
3 395
3 567
3 428 »• 3, 754
3, 415
101. 4
107 4
94.7
96.2
101. 4
109 4
96.5
94.2
101 4
107 4
96.5
95 2
101 4
107 4
96.5
95 0
101 4
109 0
96.5
93 7
101 4
109 9
96.5
93 5
101 4
109 9
96.5
94 4
101 4
109 9
96.5
94 4
101.4
109 9
96.5
94.4
101.4
109 9
96.4
94.1
101. 4
109 9
96.4
94.5
101.4
109 9
96. 4
94. 3
101. 4
109. 9
96.4
93.9
101.4
109.9
96.4
93.3
175
100
186
92
185
85
184
93
184
83
197
92
190
88
187
89
188
101
185
91
176
92
192
••89
••191
'107
170
95
3 284
1967-59=100
Paperboard ?
do
Building paper and board
do
"Selected types of paper ( APPA) : t
Fine paper:
Orders new
thous. sh. tons
Orders unfilfed, end of month
do
Production
Shipments
Printing paper:
Orders new
Orders unfilled end of month
do
do
178
175
187
186
187
183
183
187
191
188
195
191
191
190
189
196
171
179
190
185
185
179
••197
193
••183
'186
178
175
co
co
448
389
482
402
499
383
449
368
497
397
483
391
487
401
482
398
467
413
461
390
463
392
r
538
'439
'478
r
419
485
427
Production
Shipments
.
Coarse paper:
Orders new
Orders unfilled end of month
clo
do__.
439
439
468
468
481
481
446
446
467
467
475
475
478
478
473
473
445
445
461
461
444
444
'503
••503
r 477
••477
462
462
<lodo
355
164
366
168
370
160
360
167
372
161
365
145
349
139
342
143
357
161
384
170
370
187
••397
'193
'364
'203
365
192
do _
do
353
351
363
361
370
369
362
354
369
373
373
372
361
354
341
336
337
341
372
366
353
••397
394
'360
r
359
363
363
< lo
do
<lo_ _
553
552
268
608
609
238
564
533
217
549
491
275
566
540
301
625
664
261
610
616
277
610
625
240
617
620
237
637
634
239
605
628
215
664
661
218
643
665
196
614
632
178
606
556
228
582
500
311
<lo_ _
<%o
3o
185
184
37
188
189
30
198
189
43
174
186
32
190
193
29
192
197
24
201
192
32
194
192
34
174
182
27
200
194
33
181
188
26
198
196
28
183
184
27
176
181
22
195
182
34
176
182
28
Consumption by publishers cf
3o
Stocks at and in transit to publishers, end of
monthcf...thous. sh. tons-
465
503
455
452
518
528
550
496
453
472
491
532
550
535
490
461
588
566
569
572
550
541
511
529
562
591
608
599
574
585
571
585
Imports
iO
Price, roils, contract, f.o.b. mill, freight allowed
or delivered.
$persh, ton
451
496
444
409
473
475
470
513
515
492
506
527
546
584
422
134. 40
134. 23
134. 40
134 40
134. 40
134.40
134 40
134 40
134 40
134 40
134 40
134 40
134 40
386
574
383
89
363
537
349
88
387
538
386
91
381
532
384
92
387
519
386
90
399
565
391
90
395
587
390
90
361
624
351
81
400
610
403
93
385
606
388
89
410
627
404
94
384
576
391
89
11,446
10, 833
10,460
11 039
11 520
11 399
11 284
11 198
11 697
12 232
13 219
10 977
11 492
115. 8 '124 3
r 128 4
r 121 9 r 133 3
r 121 2
r
125 3
r 19g 5
r 134 o '121 3
r 128 7
41 10
82 85
39.04
.245
44 22
81 16
37.20
.250
39 46
78 95
38.83
.275
41 09
88 94
44.41
.255
Production
Shipments
Newsprint:
Canada:
Production
Shipments from mills
_ _ _ _
Stocks at mills, end of month
United States:
Production _ .
Shipments from mills
Stocks at mills, end of month ...
Paperboard (National Paperboard Assoc.) : §
Orders, new (weekly avg.)
. thous. sh. tons.. 1357
Orders, unfilled, end of month
do
518
i 358
Production, total (weekly avg.)_
do_ _
87
Percent of activity (based on (3.5-day week)----Paper products:
Shipping containers, corrugated and solid fiber,
shipments© __
mil. sq. ft. surf. area- 10, 711
Folding paper boxes, shipments, index of ph ysical
126.1
volume
1947-49 = 100
125.7 '125.3
r
132.40 ?132 40
358
563
358
84
374
573
390
89
408
572
408
92
v 114 3 P 112 4
RUBBER AND RUBBER PRODUCTS
RUBBER
Natural rubber:
Consumption.
.thous. Ig, tons._
Stocks, end of month
do. _
Imports, incl. latex and guayule
do....
Price, wholesale, smoked sheets (N. ¥.).__$ perlb__
Reclaimed rubber:
Production
Consumption
Stocks, end of month
_.
40. 25
73.24
36.77
P . 252
thous. Ig, tons.
do
_ _ _ _ _ _ _ .do...
__ do
Synthetic rubber:
Production.
Consumption
Stocks, end of month,
Exports
_.
38.10
72. 70
31. 63
p. 263
134. 04
108. 90
281.05
23. 60
147. 07
120. 13
290. 03
26.77
do
do
do. _
23.45
21.97
30.30
23.00
21.93
30.88
25 11
22 99
31 47
21 75
20 75
30 51
24 03
22 59
30 37
24 50
24 20
30 42
23 96
23 10
29 76
....
39 59
62 44
38.78
.235
143
120
279
24
59
74
51
00
36.66
64 34
26. 30
.236
140
111
283
28
18
12
20
80
39 80
64 97
41. 75
.256
146
116
285
27
27
69
88
05
40 68
64 74
28.79
.259
146
121
285
27
22
85
19
85
39 36
69 08
44.07
.254
150
118
293
24
31
49
17
66
41 37
67 14
31.24
.251
146
123
293
24
94
71
02
98
35 09
75 39
40.51
.246
137
104
300
25
99
16
31
60
25 22
22 30
30 92
20 21
19 02
32 35
144
119
298
26
63
44
15
52
144
128
287
30
81
98
58
45
23 00
20 56
20 95 r 22 50
31 07
30 25
44 61
78 93
30.26
.261
155
136
289
22
49
01
03
37
24 52
23 13
01 ifi
150
116
286
29
88
16
96
84
157
124
298
29
19.02
.261
.261
52
26
36
14
21 40
19 48
31 32
21 68
22 17
31 01
TIRES AND TUBES
Pneumatic casings:
Production
____
_.___ ;hous._ '11,589
13, 174
12,681
11, 835
12, 563
13,331
13, 214
14, 041
11, 509
13,234
14, 355
14, 892
12, 797
13, 632
Shipments, total..
Original equipment
Replacement equipment
Export . .
do
'11,546
_.do— ... '3,928
do
'7,489
129
do
12, 658
4,004
8, 481
173
12 640
4,337
8,194
110
10 406
4, 067
6,209
1 3ft
11 996
4,402
7,478
14 117 13 576
4,854 4,' 542
9,130
8, 907
1 33
126
14 517
4,652
9,718
146
12 398
2,810
9, 423
n
19 gQg
n
i9fl
19 Qfi9
2,340
8,867
171
14 090
4,121
9, 729
241
4,035
6,870
214
5,366
7,364
231
Stocks, end of month
Exports (Bu. of Census)...
do
29, 985
do....
82
32, 364
132
29, 544
77
31 090
85
31 658
78
31 091
92
31 Oil
106
30 644
105
29 968
160
31 979
148
32 495
201
34 731
205
36 608
'167
07 KXQ
3,305 3,536
'3 396 3 491
9, 467 10, 018
76
75
3,914
5 415
8,201
55
3,673
3 613
8, 424
72
3,837
3 381
9,020
51
3, 956
3 392
9,587
78
3, 591
3 117
10, 172
64
3, 699
3 4.7^
10, 471
73
3,010
q 07/1
10, 135
87
3,364
3 A(\A
10, 195
86
3,439
3, 607
3,070
3,257
10, 439
96
10,908
81
11,198
75
11, 471
78
Inner tubes:
Production
....
Shipments
Stocks, end of month
Exports (Bu. of Census)
_
_.
do
do
do
do
r
' Revised.
p Preliminary.
i Weekly average for year
9 Revisions for 1961 are available upon request.
JMonthly averages for 1962 for new orders, production, and shipments reflect revisions
t o adjusted annual totals; revisions by mentis not available.
cfAs reported by publishers accounting for about 74 percent of total newsprint consumption
o 70
2,594
9, 922
289
165
in 1963 and 75 percent in 1964 and 1965.
§ Revised to reflect weekly averages for new orders, production, and percent activity (on
basis of 6.5 days per week); comparable data prior to 1962 will be shown later.
O Revisions
by months fos 1962-Feb. 1963 will be shown later.
SURVEY OF CURRENT BUSINESS
S-38
1963
Unless otherwise stated, statistics through 1962
and descriptive notes are shown in the 1963
edition of BUSINESS STATISTICS
1964
Monthly
average
March 1965
1964
Jan.
Feb.
Mar.
Apr.
.May
June
1965
July
Aug.
Sept.
Oct.
Nov.
Dec.
37, 710
35, 834
36, 333
39, 496
38, 008
40, 693
31,100
79
27,950
25,968
64
19, 969
34, 712 •"30,341 '33,587
18, 322 15, 302 15, 624
39, 585
18,687
Jan.
Feb.
STONE, CLAY, AND GLASS PRODUCTS
PORTLAND CEMENT
Production, finished cement
Percent of capacity
Shipments finished cement
Stocks, end of month:
Finished
Clinker
_ _ _ thous. bbl_
thous bbl
do
do
29, 441 30, 635
18, 931
24, 697
46
19, 729
29, 354
76
30, 665
17, 425
17, 597
38,029
23, 070
39 555
23, 060
41, 047
21, 741
617. 1
32.0
145.6
629 4
29 2
148 8
424.1
27.1
93 4
74
29, 493
34, 417
36, 185
22, 722
29, 178
35, 511
38, 750
37,220
91
40, 678
43, 181
25, 610
45, 152
29, 242
45, 462
30, 667
44, 425
29, 580
41, 894
27, 065
38, 467 '36,805
24, 249 20, 628
446 5
25.1
101 3
590.8
29.6
137.5
679 3
31.7
151 8
739.6
32.6
166 1
771.6
32.8
184.5
765.9
31.3
189. 8
51
61
75
84
92
92
90
89
CLAY CONSTRUCTION PRODUCTS
Shipments:
Brick, unglazed (common and face)
mil standard brick
Structural tile except facing
thous sh tons
Facing tile (hollow), glazed and unglazed
mil brick equivalent
Floor and wall tile and accessories, glazed and unclazed
mil so ft
Price indexrbrick (common), f.o.b. plant or N.Y.
dock
1957-59=100
723.4
29.6
175 8
726.4
28.5
175.8
736.4
31.5
179 0
r
647. 7
25.4
129.7
501.4
25.5
101 2
26.6
29.7
28 1
22.8
21.9
26.4
27.8
25 2
30.2
32.6
32.1
29.8
31.0
30.8
22.2
23 8
21 3
21 0
25.0
25 7
24 2
25.9
25.7
24.8
23.8
24,3
22.1
21.3
106.1
107.1
106.1
107. 1
107.1
107.3
107.3
107. 1
106. 7
106.9
107.2
107. 2
107.2
107. 6
Flat gl ass, mfrs.' shipments (qtrly. average or total)
thous $ ••79,325
35, 370
Sheet (window) glass shipments
do
••43,955
Plate and other flat glass shipments
do
81 326
36 188
45, 138
Glass containers:
Production
15, 876
107.6
GLASS AND GLASS PRODUCTS
thous gross
Shipments domestic, total
do General-use food:
Narrow-neck food
do Wide-mouth food (incl. packers' tumblers,
j elly glasses and fruit jars)
thous gross
Beverage
Beer bottles
L/iquor and wine
14, 730
1,602
15, 487
1,736
14, 424
13, 714
1,331
14, 704
15, 877
16,391
13, 397
15,377
16. 514
1,294
1,508
1,642
16. 776
15, 283
17, 652
16, 967
1,455
1,367
'82.874
39,898
'42,976
84, 599
38, 156
46,443
17, 004
17, 958
15,295
15,997
14,850
13,588
15,783
16, 301
17,447
16,896
15, 053
14,243
14, 655
14, 522
2,105
2,652
3, 027
1,792
1,356
1,300
1,301
4,024
4,068
4,326
1, 179
2,137
1, 550
1,659
2,451
1,363
2,422
1,375
3, 418
4,181
4,034
3, 911
4,040
4,355
4,096
4, 656
4,751
1,350
2,453
1,295
1 472
2,771
1,396
845
2,054
987
2;137
1,293
1,700
3,542
1,392
2, 105
2,822
1,379
2,359
3,543
1,425
2,027
3,669
1,094
1,324
3,318
1,357
1,101
2,622
1,525
956
2,274
1,286
1,422
2,683
1,413
3,061
3, 155
3,263
639
115
2,956
602
94
3,364
751
102
3,490
699
138
2, 890
3,089
637
104
3,139
605
148
618
124
3,350
532
115
3,182
553
110
3,369
639
132
3,117
590
90
2, 647
612
118
_ do _
_
4,227
4,471
do
do
do
- -
4,100
4,134
do
do
do -
Medicinal and toilet . _ _
Chemical household and industrial
Dairy products
Stocks, end of month
15, 166
79, 622
34, 089
45, 533
78, 211
32, 610
45, 601
25, 533
26, 358
26, 067
25,893
26, 136
25, 633
26, 948
27, 294
27, 570
27, 672
25, 648
26, 360
25, 695
25,375
1,372
2, 597
1 562
2 607
1,397
2,377
1,280
2,733
2, 002
2,750
1,567
2,526
2,295
2 319
2, 209
2,437
2, 441
2,153
1, 052
1 100
822
73
1,200
1,212
1,166
75
71
76
237
217
269
254
262
274
204
241
365.7
1, 721. 1
51.6
391. 8
1, 905. 7
73.8
410.1
1, 986. 0
66.6
1, 744. 8
58.1
742
127
1,679
975
483
149
602
103
26, 515
GYPSUM AND PRODUCTS
Crude gypsum, qtrly. avg. or total:
Imports
thous sh tons
Production
do
Calcined production qtrly avg. or total
do
Gypsum products sold or used, qtrly. avg. or total:
Un calcined uses
thous sh tons
Industrial uses
do
Building uses:
Plasters:
Ba^e-coat
do
All other (incl KTeene's cement)
do
Lath
Wallboard
All other!
r
mil sq ft
do
-do.
r
70
74
243
259
'248
248
387 3 373 7
1, 777. 4 1 848 1
62. 0
63.2
327
TEXTILE PRODUCTS
WOVEN FABRICS
Woven fabrics, weaving mills :f
Cloth woven (gray) , total
mil linear yd
Cotton (gray)
do
Stocks total end of period cf
do
Cotton cf
do
Orders, unfilled (gray and finished), total, end of
period ^
mil linear yd
Cotton (gray and finished) f
do
967
728
1 180
1 068
il 188
1874
1 205
661
2, 741
1, 865
3 661
2 500
829
1 056
761
996
725
989
715
1
984
712
992
713
998
707
1,141
1 118
1 1, 237
1893
1, 071
738
741
1 146
1997
1709
1 147
985
710
1 137
2,392
1,421
2,537
1,492
2,628
1,564
2,855
1, 755
3,034
1,891
3,093
1, 956
3, 320
2,174
152
1,011
3, 682
9,073
1742
712
702
1882
723
1799
15,356
729
12378
12306
270
10,916
1,120
72
26 344
26 209
14, 264
11, 058
25, 974
25,840
12,646
12, 341
24 948
24 823
8,123
15, 754
23 709
23, 589
5,001
17, 354
1,234
22 404
22, 292
2,130
18, 706
1,456
20 976
20 869
1,114
18, 115
1,640
1 178
1,200
1877
1 141
806
782
1 164
2 536
1,686
2,535
1,617
2,464
1,522
766
728
718
707
692
1,000
1 073
i 1, 107
1787
1 068
3, 541
2,357
3,661
2,500
714
673
670
r
661
COTTON
C otton (exclusive of linters) :
Production:
<15, 124
Ginnings A
thous. running bales 215, 283
Crop estimate , equivalent 500-lb. bales "
thous bales 215 327
1832
683
1819
Consumption 0
do
685
673
687
699
745
Stocks in the United States, end of mo., total O
thous bales '17 789 19 580 '19 467 '18 228 '17 080 '15,864 '14 811 '13 756
17 gel 19 467 '19 328 '18 100 '16 963 '15,758 '14,716 '13 676
Domestic cotton total 0
do
r
'473
'812
'531
'515
On farms and in transit
__
do
'448
3, 859 '1,096
3, 481
Public storage and compresses O
do
12, 818 14 290 16,635 15,609 14,716 13,643 12,820 11,932
1,361
1,597
1,679
1,716
1,600
1,448
1,271
1,317
Consuming establishments
do
80
114
139
95
Foreign cotton total 0
do
128
118
106
128
r
Revised,
* Data cover 5 weeks; other months, 4 weeks.
2 Total crop for year.
5
3 Ginnings to Dec. 13.
* Ginnings to Jan. 15.
Dec. 1 estimate of 1964 crop.
§ Comprises sheathing, formboard, and laminated board,
f Effective Feb. 19,65 SURVEY, monthly data (back to 1960) reflect adjustment to benchmarks
and other basic changes; see Census report: "Woven Fabrics, M22A (64)-Supplement 1."
B eginning Jan. 1964, data for total cloth are not comparable with those for earlier periods;
manmade fabrics classifications were revised and drapery fabrics included.
12, 396 313,560 * 14, 936
5
887
135
853
134
946
125
120
112
107
cf Stocks (owned by weaving,mills and billed and held for others) exclude bedsheeting,
toweling, and blanketing, and billed and held denims stocks; small quantities of finished
fabrics are included. 1 Unfilled orders cover cotton fabrics (gray and finished, except bedsheeting, blankets, and toweling) and manmade fiber fabrics (gray, except blanketing).
ATotal ginnings to end of month indicated, except as noted. ©Revisions for Aug. 1962Nov. 1963 are available: for stocks, monthly averages also reflect cotton released by GSA
from the cotton stockpile (beginning July 1962).
SURVEY OF CUERENT BUSINESS
March 1965
Unless otherwise stated, statistics through 1962
and descriptive notes are shown In the 1963
edition of BUSINESS STATISTICS
1963
[ 1964
Monthly
average
S-39
1964
Jan.
Feb.
Mar.
Apr.
May
June
1965
July
Aug.
Sept.
Oct.
Nov.
Jan.
Dec.
Feb.
TEXTILE PRODUCTS—Continued
COTTON— Continued
Cotton (exclusive of linters)— Continued
363
Exports
thous. bules~
11
Imports
cho
Prices (farm), American upland
cents per Ib._ 2 32. 0
Prices middling \" avg 15 markets
<3o - 233.2
Cotton linters:
Consumption© ..
-thous. bales..
Production!
do _
Stocks end of mo fO
- - --<3o
COTTON MANUFACTURES
Spindle activity (cotton system spindles) :O
Active spindles, last working day, total, thous ,
Consuming 100 percent cotton
GO
Spindle hours operated, all fibers, total
mil
Average per working day
_ GO
Consuming 100 percent cotton
(3 o
Cotton yarn, natural stock, on cones or tubes:
Prices, f.o.b. mill:
20/2, carded, weaving
..
$perlb__
36/2 combed knitting
do
Cotton cloth:
Cotton broadwoven goods over 12" in width :
Production, ntrly avg. or totalO mil lin, yd
Orders, unfilled, end of mo., as compared with
avg. weekly production
No. weeks' prod__
Inventories, end of mo., as compared with avg.
weekly production _
No. weeks' rrod
Ratio of stocks to unfilled orders (at Cdttorj
mills) end of mo seasonally adjusted —
Mill marsrinsIL _ _
__.. _ cents per Ib
Prices, wholesale:
Denim mill
finished
cents pei yd
Print cloth, 39 Inch, 68 x 72
do
Sheeting, class B, 40-inch, 48 x 44-48 do
437
10
587
1
30.2
33 2
570
3
30.2
33 3
490
5
31.3
33 4
400
6
31.6
33 4
381
4
32.2
33.4
387
2
32.8
33 3
697
2
32.6
32.6
120
49
30.6
31 2
184
2
30.6
30 7
290
44
31.0
30 6
388
1
30.1
30 6
747
(i)
29.3
30.6
(i)
27.6
30 6
116
131
671
3 129
184
759
110
165
782
109
147
796
3 131
109
89
724
118
62
648
3 107
44
600
107
46
541
114
115
505
3131
198
572
109
209
644
3123
195
709
110
186
762
18, 541 18, 591 18, 543
15, 346 15, 596 15 521
10, 292 3 11, 579 9 494
467
463
475
8,546 3 9, 742 7 978
18, 492
15 440
9 294
465
7 798
18, 376 18, 446
15 208 15, 238
9,422 3 10, 272
471 3 411
7 836 8, 455
18, 543
15 273
9 678
484
7 981
18, 489 18, 672
15 174 3 15, 350
9,608 12, 175
480
487
7 931 3 10, 003
18,744
15 398
9 909
495
8 166
18, 667
15 286
311 093
444
39 155
18, 744
15 322
9 905
495
8 109
.612
.881
.612
869
.617
869
.617
869
.617
875
P .617
P .876
111
129
666
18, 628
15, 813
9,849
456
8,349
.644
.912
P .630
p .892
.655
.923
.655
923
10.6
12.0
11. 0
10,1
5.5
5.0
5.1
.52
25.20
.42
29. 57
38.1
15.9
17.0
36 6
pl6. 5
p 17.4
.631
.895
9.7
9.1
9.4
9.8
13.8
11.8
12.4
13.7
14 8
18 2
15.6
4.9
49
5.0
51
48
60
4.8
4.8
4.7
47
52
4.3
47
26 87
.51
26.85
.52
26 87
.57
26.37
56
25. 95
49
25 11
45
25 35
.39
33. 36
.36
34. 20
.32
34 45
30
34 50
29
34 97
37 7
17 0
17*8
37 7
17 0
17.5
38 0
17 0
17 7
37 7
16 5
17.8
37 7
15 8
17 8
36 9
15 6
16 6
36 9
15 8
17 0
36.9
15.8
17.0
34.9
34 9
16 5
17 5
34 9
17 0
17 5
34 9
17 5
17 5
p 34 9
p 17 7
p 17 5
820.3
199. 8
154 2
402.6
63 7
765.8
753.1
.655
.918
2 230
MANMADE FIBERS AND MANUFACTURES
Fiber production, qtrly. avg. or totalO
mil.. lb__ 659.2 754.8
177.4
Filament yarn (rayon and acetate)
do
194.4
Staple, Incl. tow (rayon)
do... 144.8 148.6
Noncellulosic (nylon, acrylic, protein, etc.)_do____ 289.0 351.6
Textile glass fiber. ___
_
do
48.0
60.2
Exports:
Yarns and monofllaments
_„
thouii. Ib
8,196 9,706 7 442
Staple, tow, and tops
do . 4,187 4,701 2 499
Imports:
Yarns and monofilaments___
do .
680
767
529
Staple, tow, a n d tops_ _ _ _ _ _
do
10, 463 11 141 15 367
Stocks, producers', end of mo.:
Filament yarn (rayon and acetate)
mil. lb._
56.8
36.9
44.7
Staple, incl . tow (rayon) . :
do
35.5
50 7
40 3
Noncellulosic
fiber©
<lo
8113.3 8 132. 2
Textile glass
fiber
do__. 828.5 833.1
Prices, rayon (viscose):
Yarn, filament, 150 denier A _ _
$pdrlb
.82 pio ,78
78
90
Staple, 1.5 denier
._
<lo
.27 v 28
Manmade fiber and silk broadwoven fabrics: \
Production, qtrly. avg. or total 9--.mil. lin. yd__ 765.2
Filament yarn (100%) fabrics 9
do
Chiefly rayon and/or acetate fabrics do
Chiefly nylon fabrics.
do-__
.631
.896
.617
871
2,155
2 258
728 6
189.6
162 2
322 3
54 5
(6)
17.5
743. 8
198.0
136.4
347.2
62.2
726 3
190. 1
141 5
334 4
60 3
10,907 10, 831 10, 496 10 245
4,851 4 994 5 367 5 564
982
883
935
706
6 902 7 782 8 433 10 346
8,498
3,664
9 005
3 199
10 177
5 013
10 204
3 947
437
12 357
518
17 415
563
12 287
592
11 578
882
10 453
967
9 636
43.6
41 9
41.0
48 3
138 3
29 0
37.9
52 5
36.1
56 6
35.0
60 9
132 6
31 5
35.9
KQ Q
34.9
53 2
35.2
49 8
123.4
35.2
33.1
47 8
32.4
46 5
32.6
51 3
134 4
36 6
33.3
49 3
78
28
78
28
78
28
78
78
90
.78
28
78
28
78
90
78
98
78
28
16 057
14 538
319.4
310.7
6.2
763.4
752.4
17 742
16. 2
9.7
36.02
v 78
•P 28
12. 6
OQ
78
no
847.6
372 6
199 3
69 8
15 439
14 061
13 788
»19.1
910.0
322.7
313.6
9.5
11.8
1.397
1.425
l!450
1
304 0
1 208 1 814
ll' 140 4 948
31.8
49 0
309.2
166 3
105 9
13, 078
7 831
862.3
384.2
201. 7
72.3
162.4
112 8
119 1
17 318 16 628
19.0
10.6
21.6
11.5
1
865 9
388 2
204 3
71 2
156 2
105 7
ACK
.27
35 94
8 899
3 938
297 2
0OQ
4
6,691
5 544
17.8
9.4
8.9
1.450
1
AKK
WOOL MANUFACTURES
Knitting yarn, worsted, 2/20s-50s/56s, Bradford
107.9 107 9 107.9
105 4 p 107.9
system, wholesale price©
1957-59:=] 00
Woolen and worsted woven goods, exc. felts:
Production, qtrly avg or total© thous lin yd 71 101 64 923
68 640
66,654
Apparel fabrics, total
" So
68 485 62, 980
Women's and children's
do
42, 570
43, 246 41, 534
Suiting, price (wholesale), flannel, men's and
bovs'. f.o.b. mill „
1957-59;= inn
95. 8 v 95. 9
95.8
95.8
95.8
'Revised. p Preliminary.
* Less than 500 bales. 2 Season average. 3 Data cover
5 weeks; other months, 4 weeks. 4 See note ^. 5 Based on 11 months. a Not available.
7
For month shown.
8 Qtrly. average.
« Based on 52 weeks. 10 See note "A."
O Revisions for Jan. 1962-Noy. 1963 are avail able.
9 Includes data not shown separately.
fProduction and stocks of linters at oil mills revised to approximate running bales; data
back to Aug. 1958 are available.
IBeginniig Aug. 1964, margins reflect the fy5 cents per
pound equalization payments to domestic cotton users. Effective Jan. 1965, data reflect
18, 484 18, 442
15, 381 15,292
11, 503 9, 481
460
474
3
9, 609 7,892
3
.636
.913
2,190
Spun yarn (100%) fabrics (except blanketing) 9
mil. lin , ydRayon and/or acetate fabrics and blends:
do— _
Polyester blends with cotton _
< k> _
Combinations of filament and spun yarn fa brics
mil. lin. yd_ _
Exports, piece goods
. -thous. sq. yd._ 12, 972
WOOL
Wool consumption, mill (clean basis) :Q
Apparel class
mil. lb_
20.9
Carpet class
_ _ . _ _ _ _ ...
~io
13.4
Wool imports, clean yield
3o
23.8
Duty-free (carpet class)*
do
14.0
Wool prices, raw, clean basis, Boston:
Good French combing and staple:
Graded territory,
fine
$ por lb._ 1.326
Graded fleece, % blood
3o
1. 175
Australian, 64s, 70s, good topmaklng...
3o
119
777
27.6
30.6
321.3
311.1
18.5
9.8
1.415
16 612
117 0
15 880
12 546
13 251
114 5
16 842
19.2
7.5
18.5
11.5
19.8
8.6
13.8
6.6
320.1
37.9
17.3
9.8
18.4
10.1
18.0
9.8
7.1
11.5
321.7
312.7
13. 6
6.8
1.405
OrjA
1. 405
1.392
108. 0
108. 7
1.375
4.QQ
1 9QQ
1 V7*\
107 9
107 9
1
1.375
1. 335
1 ^fifl
1.398
I onn
1 Q7£
107.5
71 463
69 822
46, 538
1 Q7K
107. 5
107. 5
I
1
Q7K
107.5
63,035
61, 251
42,079
1.337
19.4
9.3
1.325
99.fi
9OK
1 91R
1 9OO
109. 0
1.275
1 155
1 125
108.7
1
1
56, 553
54, 191
34, 947
95.8
95. 8
95.8
95. 8
95.8
95.8
96.1
96. 1
96.1
96.1
substitution of two cloths used in the average; comparable Dec. 1964 margins, $.3528.
AEffective Jan. 1964, prices reflect change in BLS source and are not comparable with
those for earlier periods. Dec. 1963 price, comparable with Jan. 1964, estimated by QBE, $.78.
t See corresponding note, bottom of p. S-40.
*New series. See corresponding note in the Aug. 1964 SURVEY.
©Beginning July 1964 index, yarn specification changed to "American system, manufacturer to knitter."
SURVEY OF CURRENT BUSINESS
S-40
Unless otherwise stated, statistics through 1962
and descriptive notes are shown in the 1963
edition of BUSINESS STATISTICS
1963 | 1964
Monthly
average
March 1965
1964
Jan.
Feb.
Mar.
Apr.
May
June
1965
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
14, 170
Feb.
TEXTILE PRODUCTS—Continued
APPAREL
Hosiery shipments
_ __thous. doz. pairs.. 15.007
Men's apparel, cuttings: t
Tailored garments:
Suits
-- thous. units. _ 1,713
357
Overcoats and topcoats
_
',
do
Coats (separate) dress and sport
do
Trousers (separate) dress and sport
do
Shirts (woven fabrics) dress and sport thous doz
Work clothing:
Dungarees and waistband overalls
do
Shirts
- do Women's, misses', juniors' outerwear, cuttings: t
Coats
thous. units
Dresses
do
Quits
do _
Blouses waists and shirts
Skirts '
'
thous doz
do
15, 784
16, 350
15, 411
15, 423
14,763
13, 892
16, 544
15, 174
16, 661
16,. 896
17, 417
15, 284
15, 595
1,717
332
1,850
211
1,673
232
1, 599
271
1,859
348
1, 650
422
1,676
423
1,104
328
1,806
428
1, 656
391
2,177
398
1,840
280
1,711
256
931
9,551
2,109
887
16, 636
2,382
998
9,892
2,442
880
874
871
998
928
9,938 10, 110 11, 024 11, 141 11, 646
2, 396
2,351 2,450
2,425 2,304
570
10, 238
2, 006
840
11, 562
2,335
728
11, 322
2, 325
942
11, 108
2,679
1,087
9,601
2,444
930
10, 054
2, 425
336
316
406
324
411
341
442
337
442
329
462
344
439
310
421
313
378
274
428
331
379
302
398
369
343
330
326
305
2,046
21,914
828
2,133
22,476
901
2,247
21, 920
1,259
2,445
24, 866
1,362
1,588
28, 149
868
1,032
29, 943
584
1, 541
25, 545
628
2,135
22, 953
909
2,408
19, 918
1,008
2,521
20,446
930
2,454
19, 608
708
3,096 '2,438
21, 178 '18,512
820
••899
1,696
16, 675
835
1,363
825
1, 372
774
1, 408
741
1,500
776
1,442
758
1,471
825
1,250
844
1,354
923
1,274
900
1, 344
837
1,323
719
1,575 * 1, 349
834
'613
1,170
521
TRANSPORTATION EQUIPMENT
AEROSPACE VEHICLES
Orders new (net), qtrly avg or total
_ mil. $__
U S Government
_
do
Prime contract
do
Sales (net), receipts or billings, qtrly. avg. or total
mil $
U S Government
do
Backlog of orders, end of year or qtr. 9
do
U S Government
do
Aircraft (complete) and parts
do
Engines (aircraft) and parts
do
Missiles, space vehicle systems, engines, propulsion units, and parts
mil $
Other related operations (conversions, modifications) products services
mil $
4,414
3,519
4,018
4,496
3,382
4,073
4,899
3,863
4,443
4,580
3, 396
4,192
4,504
3,293
4,119
4,000
2,975
3,539
4, 102
3,301
4,172
3,205
4, 098
3,144
4,345
3,365
3, 978
3,060
4,265
3, 250
14, 705
11 665
5,879
1 383
U, 928
11, 694
6, 181
1 334
15, 454
11, 927
6,294
1,461
15, 189
11, 652
6,279
1,520
4,556
13, 919 15,189
10, 953 11, 652
6,279
5,301
1 510 1,520
4, 661
4,556
4,809
4, 825
4,882
1,295
1,405
1,403
1,324
1, 381
57.2
1,340
20.3
88.8
1, 909
23.9
84.6
1,815
41.8
66.5
1,567
17.9
96.7
2,011
25.0
114.6
2,297
33.4
92.3
1,997
24.0
96.0
2, 091
19.8
71.4
1,631
24. 9
89.2
1,748
19.5
67.8
1,454
14.0
94.4
2, 176
32.3
83.0
1,856
•21.7
109.7
2,263
12.8
91.3
2,076
758.4
730 0
636.5
620.3
121 9
109.7
774.4
744 3
646. 0
629.5
128 4
114.8
859. 6
831. 5
726. 2
709. 0
133.5
122.5
814.1
784.8
681.1
665.4
133. 1
119.4
860.5
829.3
718.0
700.9
142.5
128.4
939.9
909.3
786. 4
770.2
153. 5
139.1
875.7
845. 1
735. 0
719.5
140. 7
125.6
893.2
862 6
740.6
726.7
152 5
136.0
691.4
670.3
570.3
562.2
121. 1
108.1
339. 6
319.9
237.3
230.8
102.2
89.1
700. 9
671 1
581. 9
563.8
119 1
107.3
491. 8
463.7
411.5
394.7
80.3
69.0
794.1 1, 031. 4
748.8
995. 1
679.2
884.3
648.4 862.4
114.9
147.0
100.3
132.6
936.7
910.7
798.1
782. 8
138.6
127. 9
number^- 22, 928 27 455
do__._ 12, 851 14, 726
_ do
10 076 12 729
33, 829
20, 274
13, 555
27, 606
13, 995
13, 611
23, 857
11, 932
11, 925
22, 407
12, 031
10, 376
27, 769
13, 166
14, 603
34, 681 22, 032
18, 986 10, 677
15, 695 11, 355
26, 308
14,927
11, 381
22, 853
11, 895
10, 958
26, 938
13, 521
13,417
25, 130
14, 577
10, 553
36,053
20, 732
15, 321
Imports (cars, trucks, buses), total d".do
36, 534 44, 413 45, 588
Passenger cars (new and used) cf. _ _ _ _ _ _ _ _ __do__.- 35, 308 43f 896 44, 330
Shipments, truck trailers: A
Complete trailers and chassis...
_do
6,135
6,465
7, 238
Vans_.__
_ _ _ _ do____ 3,885 4 297
3,802
Trailers and chassis (detachable), sold separately
number..
342
445
650
Registrations:©
New passenger cars
_
_
thous.. 629. 7 672. 1 612.0
32.1
Foreigncars
.
do
35.4
40 3
New commercial cars (trucks) _ _ _
__do
102.7
103.7
113.5
RAILROAD EQUIPMENT
38, 426
38, 243
47, 238
46,868
46, 404
45,950
41, 211
40, 808
47, 015
46, 481
47, 172
46,812
20,430
20, 181
40,283
39,632
46, 831
46, 382
48, 374
47, 644
63,985
63, 427
5,910
3,609
7,184
4,246
8,141
4,745
7,991
4,562
8,185
4,614
7,888
4,538
7,309
4,366
8, 039 --6,971
4, 177
4, 839
5,964
3,551
7,145
4,510
Aircraft (civilian): Shipments ®
do_ _
Airframe weight ®_ thous. lb__
Exports
mil $
1,405
MOTOR VEHICLES
Factory sales, total— __ ___.
_ _ _ __thous_
Domestic
*
do
Passenger cars, total __
_
do
Domestic
_
do
Trucks and buses, total
do
Domestic,
_
..
do
Exports, total
Passenger cars (new and used)
Trucks and buses
289
515
607
623
627
651
806
551.8
29.8
90.9
636.9
35.8
108.3
812.3
45.0
132.5
780.6
41.3
124.3
754.3
42.5
122.4
724.2
44.2
123.0
648. 7
42.4
111. 1
565.4
42.4
121. 1
804
678
987
563. 5
39.9
97.8
756.8
39.4
113.4
Freight cars (ARCI):
Shipments
_
Equipment manufacturers, total
Railroad shops, domestic
number..
_do____
. . _ do
.
3, 747
2,608
1,140
5,757
3,781
1,976
5,253
3,299
1 954
5, 467
3,674
1,793
6,780
4,336
2 444
6,529
3,531
2 998
6,931
3,947
2 984
6,759
4,190
2 569
5,258
4, 055
1,203
4,349
2,875
1 474
5,124
4,314
3,629
2,899
1 415 1 495
New orders
Equipment manufacturers, total
Railroad shops, domestic
do
do
____do____
5,089
3,665
1,423
5, 923
3,705
2,217
10 552
3^441
7,111
3 701
3,' 172
529
7 040
5,454
1,586
2 596
2,296
300
5 824
3' 775
2,049
4 289
3,550
739
4 644
3,627
1, 017
5 344
4,124
1,220
3 992
2,610
1,382
-___._do____ 22, 183
12, 645
do
9, 538
do
32, 876
20, 043
12, 833
37, 836
20,291
17 545
36, 080
19, 789
16,291
36, 922
20, 960
15 962
34, 690
19,930
14 760
33, 410
21, 084
12 326
30,631
20, 383
10 248
28, 618
19,757
8 861
31, 598
21,006
10 592
31, 278
20, 688
10 590
30, 452
20, 249
10 203
Unfilled orders, end of year or mo
Equipment manufacturers, total
Railroad shops, domestic
_
Passenger cars: Shipments
Unfilled orders, end of mo
Freight cars, class 1 ( A AR) : §
Number owned, end of year or mo
Held for repairs, % of total owned
1 iqq q
24, 172
23,622
667.0
36.0
102.7
5,820
6,501
6, 130
4,260
4,272
4,676
1 560 1 825 1 858
6 763 r g 4.35
3, 387
2,316
3,376 ' 4, 120
6' 708
3,195
9 446
4,592
4, 854
29, 824
17, 187
12 637
33, 167
19, 190
13 977
36, 465
19, 500
16 965
r
r
Q QQ3
do....
do
16
198
21
328
5
352
5
387
5
382
5
377
6
371
15
356
21
363
30
333
28
305
31
284
46
238
57
191
24
177
thous__
1,515
6.8
1,495
5.9
1,513
6.5
1,507
6.3
1,505
6 3
1,503
6 2
1,502
61
1,501
6 0
1,500
61
1, 499
60
1,497
60
1, 495
60
1,493
60
1,495
59
1,495
60
r
Revised.
* Preliminary estimate of production.
fMonthly revisions for Jan. 1961-Sept. 1963 are available upon request.
9 Total includes backlog for nonrelated products and services and basic research.
©Data include military-type planes shipped to foreign governments.
& Data cover complete units, chassis, and bodies.
AEffective with the Apr. 1964 SURVEY, shipments have been substituted for production.
Shipments of trailer chassis only and dump trailer chassis, sold separately, are now included
with the complete trailers and chassis (except detachable). Data back to 1958 are available
O Courtesy of R. L. Polk & Co.; republication prohibited.
§ Excludes railroad-owned private refrigerator cars and private line cars.
i 770 g
867
658. 5
46.2
114.5
i 904 o
NOTE FOR MANMADE FIBER FABRICS, P. S-39. ^Effective 1st qtr. 1964,
data reflect revised fabric classifications. The difference between total production and the
sum of data for filament, spun, and mixed yarn fabrics shown separately (p. S-39) covers
upholstery, blanketing, silk, paper, and other specialty fabrics. The difference between the
total for 100% filament yarn and the components shown, covers all other filament yarn goods,
including glass fiber and polyester fiber fabrics. Earlier data comparable with the detail
shown are not available. Figures for 1st qtr. 1964 reported under the new classification
system and receded to the old are summarized for comparison with data shown in the Aug.
1964 and earlier issues of the SURVEY as follows (mil. yd.): Total, 840.5; rayon, 485.2; nylon,
79.1; polyester, 204.0; silk, 4.3.
' SECTIONS
Generals
Business indicators
Commodity prices
;
Construction and real estate
Domestic trade
,
,
.
,
...
1-7
7, 8
9,10
10-12
Employment and population
... 12-16
Finance
,
„
„
,
, : , 16-21
Foreign trade of the United States. IIIIIIII 21-23
Transportation and communications
„ 23, 24
1,18
Earnings, weekly and hourly.______._______1 - 6 National defense expenditures.....
41
National income and product
l, 2
Eating and drinking places. ._____________._ 11, 12
National parks, visits
„
..
..
24
Eggs and poultry_____,___________________3, 7, 29
Electric power.;____,_____„__ _______ ,______,. 4, 8, 26
Newsprint
_.,
;
..
..
^.. 23,37
New York Stock Exchange, selected data . . 20, 21
..
Electrical machinery and equipment _________ 3,
Nonferrous metals
. . . . 3,8,19, 23,33,34
....
5, 6, 13-15, 19, 22, 34
1
17» 18
Employment estimates—___.^.______________1 - 4
2 1Noninstallment credit
Employment Service activities__________„__..
16
Oats. ._.;
',
..
.. .. .-,
.„. .!
27
Expenditures, U.S. Government...^ _________ 18
Oil burners
.
,._„
.
- '
34
- Explosives___,..^«.____,_,';_________ ______ ._
25
Oils and fats
.
..—^
8, 22, 29, 30
Exports (see also individual commodities)-..-,.
1,
Orders, new and unfilled, manufacturers*
6
2,21-23
....
...
,
1 - 5
31
Express operations...__________.____. _______ 23 . Ordnance
(
Failures, industrial and commercial- _„ _______ 7
- Fans and blowers.. _________ :__. _____ , ____ , __ ,-. 34
Farm income, marketings, and prices. _______ 1, 3, 7
Farm wages____. :____, __ .____* __ i6
Fats and oils..._________.___________8, 22, 29, 30
Federal Government finance _________ .___. ____ 18
Federal Reserve banks, condition of__. ______ 16
Federal Reserve member banks ___ _________ 17
Fertilizers.. __________________ ____,_., ____ 8, 25 •
• Fire losses___:_____,.,__h., ____ __ . __ . „
10
Fish oils andfish.____._____(;______,____«_^..
29
Flooring, hardwood'______,*.________..,______.,
31
Flour, wheat..- _____ .^ .,._ __ . __ '___'.' __ • 28Food products..,; 4-8, 10, 11, 13-15, 19, 22, 23, 27-30
Foreclosures, real estate. », .._„„.._____. . __ - io
.
Foreign trade (see also individual commod.)____21—23
-F««ndry equipment___:____-___„__._____.__.„'
34
.Freight car-loadings___________.._.._____'. ____ 24
Freight cars (equipment)...______!____'. ___ __ 4,40
Fruits and vegetables..^____>--.-,.______•-.- 7,8,22
Fuel oil.. ....... _____ .,.,_________________, 35, 36
Feeii_____.____.....„„,._________,.„„_• 4,8,35,36 •
Furnaces_____. ._________,______-.,___:^__;__.w
.
34
Furniture_______________.,____-^. 3,4, 8,~11~15, 17 •
'
Industry:
Chemicals and allied products
_
Electric power and gas
. -.__
Food and kindred products; tobacco
Leather and products-
25
26
26-30
30, 31
Lumber and products
,
,
31
Metals and manufactures »
... .
32-34
Petroleum, coal, and products:.
. . 35,36
..
Pulp, paper, and paper products _,^._._._ 36,37
Rubber and rubber products
„.
Stone, clay, and glass products.—„.
Textile products
.„„.
_„
Transportation ec|uipmei*t.......
;
.
...
37
38
38-40
40
INDIVIDUAL SERIES ' •• ' •
,
Advertising.....,,__________±___________:__' 10( u, 16
Aerospace vehicles,. _„,—,,._______-,J..,.— . . ' '40
.
Agrkulturalloans....,....^_______„..„ __ , ____ . . 16
. Air carrier operations. __„.__.__, _____ ;,.„, ______ 23
Aircraft and parts_________«__. ____<,_._ 3,13-15,40
.
Alcohol, denatured and ethyl__-___1(..I._.,,_
25
Alcoholic beverages________,;.;»...,.„;.;____1, 8» 10,26
Aluminum._____.____»„.-.. ._ .j - .. - 23,33
AppareL;-...-,....,,..,.......^. 1, 3; 4, 7, 8, 10-15, 40
Asphalt and tar products,.....;_____i_______ 35, 36
Automobiles, etc. _. 1, 3-6, 8, 10, l.lj 13-15, 19, 22, 40
Gas, output, prices, sales, re venues.._____^ 4,8,26
Gasoline-...____„._____. . . . ...... . . 1, 35, 36'
...
.
Glass and products.^. .*-.___,,.*__.>:..___.. ___ • 38 •
Glycerin __ '_____,*-..»*____. . .__„»,___..
' ' ' . ' 25'
. Gold____,____„_____. . ____.,_____.II.,.""
..
10
Grains and product.. _______. . . 7, 8, 22, 24, 27, 28
..
Grocery stores....___ ___ ,_•„.,______, ______ ,_^ __ 1 , 12 1
Gross .national product.____:._._^.,_ ___ ,_____„ 1^ 2'
Gross private domestic investment. ____ _____ 1,3
, Gypsum and product*-... _.______'._____, __ __ 8, 38
Balance of international payments * j , . ^ . . .
...
2
Banking.,__i,,;...,....___I...,......],.,______. 16/17
Barley *._.»,___..,«..._________._____,x_<__s,.I __ 27
Barrels and drums . . _______„___-..JL....I..II , • 33
..
Battery shipments,___•____. . . . .;_j,».II.III. ' ' 34' .
...
Beef and veal..___. ___k________!...';....____, __ • 28
.
, Beverages---__.:__'________„.___.^J..- ___ 4, §» 10, 26 •
Blast furnaces, steel works, etc. .;.....;-._._..... 13-15
Bonds, outstanding, issued, pridss, sates,
yields___. . ____-,......„._._._;,,;..,.;,,...,. 18-20
..
Brass and bronze--.__„____. ___.J_____ .__- , 33,
.
Brick-----,„_. ..... ; . _____...J.III , '38
,.
..I .IIII
Brokers balances ___ . ____ ' ____ , _____ j __ , _______ 20
Building and construction materials-, "1^10^31, 36, 38
Building costs ___ •______.»__,_____r .j_____'..._ 9, 10 Building permits______'„„_____..',__!.„,______17
9
Business incorporations (new) , f ailui es „___. . .
7
Business population---___............L.. II. Ill ' " 2
• Business sales and inventories ___ ;:„;.. _._._I
4,5'
Butter.___. . ___;__...;__________'-L'.«.'..
• 27
Hardware stores..,____'.____. . ._____...„_. • 11
..
'Heating equipment__:___________,__.___„• ____ 8, 34
Hides and akins...____*..-____,„___........II, 8,30
Highways and roads_____________________; I 9,10
Hogs ------ . . . . . ...^. .„...-..„______„
.....
- 28
Home Loan banks, outstanding advances,....
10
Home mortgages.__. . . . . . ....._______' 10
._...
Hosiery....-_____.,_____^_____T..^..^._____- 40
Hotels......._____...^i....,____. . . . . 14, 15, 24-'
.....
Hours of work per week__•____.:, __ •___________ '• 14
Housefurnishings______,_^___„..__. 1, 4, 7, 8, 10-12
Household appliances and radios______. 4, 8. 11, 34
.
Housing starts and permits-. «____...______,.,„„
9
Paint and paint materials.
•„:
.. 8, 25
Panama Canal traffic... ;„
,.
24
Paper and products and pulp
'.
.
3,
5,6,8,13-15,19, 23,36,37
Parity ratio
..,
.
.
„
7
Passports-issued , ,
.
,
.24
. Payrolls,'indexes..
..
.;
.
14
Personal consumption expenditures
.
1, 2
Personal income..... •
,
.
•.
2,3
Petroleum and products . ; '.
.
.
4-6,
8,11,13-15,19,22,23,35,36
Pig iron....._........_.
....
....
32,
Plant and equipment expenditures
2, 20
Plastics and resin materials. .
.
25
Population
—....
... . .. .
..
..
12
Pork
........_ .-.
........ ^. .
...!._
28
Postal savings
..
.
, ..
,
17
M
Poultry and eggs..-;
' I 3, 7, 20
Prices (see also individual commodities) . . . 7,8
..
Printing and publishing._;
^
_.,„ 4,13-15
Profits,corporate....
' . .. . . '
.
1,19
Public utilities
2-4, 7-9,13-15,18-21
Pullman Company
.: .
,-, ,
24
Pulp and pulp wood..
,,_._^
.^..1 „
36
Purchasing power of the doUar.-.^
.
8
Radiators andconvectora..... >„
....
...
34
Radio and television-:..^
.
4,8, 10,, 11, 34
Railroads
„.__. 2,13,14,16* 18, 20, 21, 24, 40
,
Railways (local) and bus lines.. .
; . 13--15, 23
..
Rayon and acetate..
.. .
..
„
39
Real estate
•
,.._•
;
10, 17,18
'Receipts, U»S, Government....,.,..
^......
18
Recreation....i»
.^
... .^.- ._; '
Refrigerators and home freeaters _- i
34
Rent (housing)".'. ..^'._... :L....... . . .
..
7
Retail trade,...
. _ . . . . • 4,5, 7,11-15,
. ....
,17,18
Rice.......
,..• . . . . . . .
.......
27
Roofing and siding, asphalt.........
36
Rubber and products (ind. plastics).
4-6,
8,13-15, 23,37
;
27
, Rye... :.,v..-.,-__..
Saving, personal____.___. . __;____.„_„ ____ 2
..
Savings deposits.. . . . .___.,___.________._' 17
...
Securities issued. . •, . ..^___.;.________'...» __
19,20
Security markets,:_____.______;__•'___. .___• 21
20,
Services................ . . . . . . . . 1, 2, 13-15
.......
Sheep and Iambs.... ^._____<„..,_______:...,„._
28
Shoes and other footwear-.. ...... . ____ 8,11,12,31
.
.Silver.._____^^.......^'^_________^.
........
19
Soybean cake and meal and oil. . . . . _____
....
30
Imports (see also individual commodities). 1, 2, 22 , 23
Incon3e,'persbnal-^-____.__: .__L.^___.__.,____._. 2^3' •' 3pmdle activity, cotton...__w-i___;__.____^.__ 39
.
Income and employment tax receipts____. . I.
18 Steel ingots and steel Manufactures... _,;.__., 32,33
• Steel scrap . . . .•____. . . . ^__ ^, . ___.;.-»-. ___
...
.
32
Industrial production indexes:
Stock prices, earnings, sales, etc.. ^___"t____•„;.« .20,21
Cans (tinplate)..
33- ' By industry..^.._____^^..^..___«,_____*.. '' 3, 4
• Car|oadings_..» __
Stone, clay, glasu products . . 3-5, 8, 13-15,
..
24
By market grouping^.___•...._________,___. "3,4.
Cattle and calves™_____....____. .
Installment credit _________ ,;___..._____;.;_„ __ • 12,17, 18- - Stove i' aim ranges...;___.__^.___._.-__..^ ____
.
._......_.____29
23, ____
Cement and concrete products... „ j __»I_«.I~8-10, 38
Installment sales, department stores___.__. .
.
12
.Sulfur...______.____. . . . .____^.-u.....
....
25
Cereal. and bakery products,_____„ i „-...,__.„„, ' 8
Instruments and related products... _...„». 3, 13-15
Sulfuric acid— . . ____,._._...._._.___. . __ 25
..
.
Chain-store sales, firms with 4 or njorer and" 11
Insulating materials.,____,. . . . -_______;___- . 34
'....
Superphosphate — . __^___-______^ w ._____„; 25
.
or more stores-..____. . ' -.. ..J. • •
.
•
13
Insurance,, life.__. . __.:_____,„-»-,.,______,C. 18, 19
..
Cheese,____~^.. . . . . . . . ..],-.. .~ ~I~~
.......
27 • ' Interest -and money 'rates....... .,__'„_____-.».,.'
17 '
Chemicals^....,.,,. Ji-^^^i. 4^6, |{, 13-15, 10; 22, 25 •
Tea impdrtii....:.. ---- .-..i,__,____.___*,„...__- 29
Inventories, manufacturers* and trade ___ 4-6, 11, 12
Cigarettes; and cigars . '_______: _ .___j , . _-.„;_„ _ g, 30 In ventory*sales ratios___,. ___ :_______, __ ;____^_ • • .5
Telephori e, telegraph, cable, and radioteleCivilian employees, Federal . . . „__j _ _ ^ _ i » __ 14
graph carriers.. «.»^,.-__:..._...__-___,_____: 13-15, 24
Iron and steel __ 3, 5, 6, 8» 10, 13-15, 19, 22, 23, 32, 33
Television and radio*...*,.___:__.__•„•__4, 8, 10,
Clay products- ..____.^.i,... ]•'•
' •'""" 8 '38
11,34
. Coal. — . ...... .„.;_...„..,.,. 4, & i3~15,~22» 24, 35
Textiles and products.. 3, 5, 6, 8, 13-15, 19, 22, 38-40
Labor advertising j'ndex, disputes, turnover,^.
16
Cocoa,____.___,....___.. . « , - - '
'j •- 23 29
. Tin.......____._..•........_.•..„....;____... ,23,33
..
Labor force... . — . ._____._________,____^wi.
.
.
'.12
.Tires and inner tubes__.„__±_____.__,__'„ 8, 11, 37
Coffee. .._..,._„ — ........IIIJIIIIIIIII^ 23, 29 '
12,
Lamb and mutton.....______.^..^..___'___-. ' 28
Coke............ --- .........,;,4^,. ....... -24, 35 ,Tobacco and manufactures. ___ 4-8, 10, 13-15, 22,30
Lard.- ----- -—v-.___-— ----- -•—__'___'«-__. __ 28
Tractors.*__:..^'..._.,___:.„„..._______!. . . '
..
Communications.____.______;.,,a._ J;. -2, 13-15,^0, 24
22,34
Lead..___'„:______....___. .____;_________^.
.
3-3Trade (retail and wholesale). . ~ „«._„..,. 4, 5,
Confectionery, sales. ._____,„__'____I „ . ..______' 29
11,12
Leather and products— . . . . . 3, 8, 13-15, 30, 31
....
Construction:
i
Transit lines, local. ..^.___:,_____,_._______. . , ,• 23 •
..
Life insurance ---- . . . .__..„__._.„._;__'__„ 'ig^ 19 _ 'Transportation.... . . . . . . 1, 2, 7, 13-15-, 23,24
...
Contracts. . . . _______,__;______ji.___^ ____ §
...
.^...1
- Liniieed' oil. . . .___.^.'..._____,.:___.__. . . - 30'' Transportation equipment... I,. ..w 3-6, 13-15, 19, 40
..
..
Costs',..___..._____;____'„_____-l,i,..j..^..II..II 9,10
'. Livestock..,..^.........— ._,____._I~Sr7,~i, 24, 28 '
Employment, hours, earnings, wages'.. TI..I' 13-16
Travel..__.___.___. . . .___.-_... ^...^__.• 24
...
23,
Loans, real estate, agricultural, bank, brokers*
••, High'ways -and roads,____r.-.;___...|_....._, __ gt 10 •
Truck trailer8.....^.rt.'.i-..'___ . . ....^..' ' ...... 40
(see also Consumer credit). . .i..... 10, 16, 17, 20
.
Trucks (Industrial and other) .________..
- ' Houdng8tartai.^;.-».^.V'.--.J.-;»...-.CIII < -9
34,40
'Lubricants. ----- . . . . .___.^..L. ...„,.-. -3'5,36 '
....
New constriiction jput in place___...^ _____ 1, % 9
Lumber and products......_____» - 3, 8, 10-15, 19, 3 1
Consumer credit. .._______-.»,__...Ju....___f . '17, 18
0ne«aployntent a'ad^ insurance... -._..^^..„'_• 3 2,-16 '
•Consumer expenditures •_ „._.„.__^ J. __ '___~II-_ ' •' -it %
U.S. Government bonds..,..
,..„_._; 16-18, %Q
Consumer goods output;, index**,__|i.____''.w— . 3,4
0,S, Government Bnance^...i ,; ; -.
. • ' 18
.
, Machine tools.. ^..__<_____._________.__.._ '' - 34 ,'.
Consumer.'price index., li..^j«..^|L..'.I.II^I
'7 ,
' •'0ta!it!«i.v.r.A:.:«l.«.^rl.i.^.-'a- 4, 9, 13-45,18-21, 26,
Machinery... ^ ---- 1._ ---- 3, 5, 6, 8, 13-15, 19, 22, 34
'Copper. »'*.'— ^r*.^..^».-.^..u.^'^.:.^^*»I,- 23,-33 ' •'• Mail order house s, sales__________. . ___._....
n.
.....^..___.___.._.______. I- __
•
__
'
'
Vacuum cleaners . .
. . . . . . . . . . / ' 34'
.......
Ma nmade fibers and manufactures_______:.^- 8,39
Cost of living {see C0nsumef price | b )
7
Variety «tores........
......
......
11,12
Manufacturers' sales (or shipments), inventoCotton, raw and manufactures^- ^,_L_. 7^8, 22, 38, 39
- Vegetable .oils..............^....^........... - 30
• .ries, orders -.--•-..._'-, _____________ ...... _ _ ,4-.^,-Cottonseed cake and meal and oil _!,.,._____„.
30
, -Vegetables'a«d fruits.-.....^..^.-......1,... 7,8,22:
Manufacturing employment, production workCredit, short- and intermediate* terjri . _
17, 18
Vessels cleared
teforeign-trade.;—............
; -24
era, payrolls, hours, earnings_____„___..„___^ 13-15
_ _ _ _ _ _ _ ----- _..._,..; 3, 7, 27, 28, 30,38'
.L.J;
'
-•'Veterans-benefits
„.
..^^.......... 16,18
Manufacturing production indexes . .__. . . 3,4
.
..
Crude oil and natural gas— — ...— iU.,., 4f 13-15, 35
• Margarine.. .....^_______'.___^._ __ ._.^.__„ __ ,-. 29'• Currency in circulation . ^ - »__.. ^. .4*- - -___,— 10
1,3,14-16
Meat animals and meats - . *.__________3, 7, 8, 2 2, % 8 ' Wages and salaries...........-;...
Washers and driers , «.„ ^, : . . . •, ' 34
.
.
Medical and persona! care... ._____...»;,.
7
Dairy products^. '...^..*.. _.».»^.,',-,_,___, 3 7-27
. Water heaters.^....
•....._..
...... ...
34Metala...._________^ 3-6, 8, 13-15, 19, 22, 23, 32-34
Debits, bank ____ ,„.____„ ___________ ;v_..III~I. - * 16
-Milk.... _.._._.„._„___. . . ________.. ..' 27
...
Waterway traffic........_„
. . . . . . . , ''24
.......
Bebt, U.S. Government.. ,i.I__.CI~.IIIIIICI ; 18"
Wheat and wheat
flour
.
^.._.
28
Mining and minerals. _____ ____ 2-4, 8, 13-15, 19, 20
Department stores___.'____w ._.___._~III-I~lf»i2, 17
Monetary .statistics*.._______,___. . ____.„.:_ ' 19
..
- Wholesale price indexes.-,.;
..* ~~
._ - • 8
Deposits, bank.1_______-,__________;,.!«. 16, 17, 19
Money -supply........__'.___... __ .____•*...„__, - '19' - 'Wholesale-trade.........^.......,,.,.. 4, 5,7,,13-15 «
Disputes,, industrial..-.-, ___ _ ____ •___:'v,"-w»-* - - 1 6
'Wood, pulp
..........;._
^...-.-...^.....- 36
Mortgage applications, loans, rates.. I__II 10, 16, 17
Distilled spirits--__________. . . ^ ...jill'.II.
...
' 26
Wool and wool manufactures.^
. . . 7,8,23,3§
..
Motor carriers;... . . . . .____:_.,;_____-„.... -23, 24
....
Dividend payments, rates, and yields.^,.-, 1^3, 18-21
Motor vehicles— x. 1, 3-6, 8, 10,11, 13-15, 19, 22, 40
, Drug stores, sales ;.___,....„...._____-4,~-~-.. 11,12 '
fiftotors and generators.. j,..^.._.i»._....i,...'. •• 34
' 2Srie.
^..^........^
,»....,_^...^,.. '33,34
•
-
" "
"
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ICIAL BUSINESS
INPUT-OUTPUT
THE INTERINDUSTRY STRUCTURE
of the
United States
A report presenting preliminary results of the
1958 Interindustry Relations Study, inaugurating
the periodic preparation of a set of input-output
tables as part of OBE's integrated system of
national economic accounts.
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