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A UNITED STATES
DEPARTMENT OF
COMMERCE
PUBLICATION
U.S.
DEPARTMENT
OF COMMERCE
MARCH 1970
/ VOLUME 50 NUMBER
3
SURVEY OF
CURRENT BUSINESS
MARCH 1970 / VOLUME 50 NUMBER
SURVEY OP CURRENT BUSINESS
CONTENTS
THE BUSINESS SITUATION
U.S. Department of Commerce
Summary
National Income and Product Tables
8
Office of Business Economics
Manufacturers' Inventory and Sales Expectations,
First Half 1970
12
ARTICLES
Business Investment and Sales Program for 1970
Plant and Equipment Expenditures by Foreign Affiliates
of U.S. Corporations—Revised Estimates for 1969 and 1970
The U.S. Balance of Payments: Fourth Quarter
and Year 1969
Albuquerque, N. Mex. 87101
U.S. Courthouse Ph. 843-2386.
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306 Loussac-Sogn Bldg. 272-6531.
Atlanta, Ca. 30303
75 Forsyth St. NW. 526-6000.
Baltimore, Md. 21202
305 U.S. Customhouse 962-3560.
Birmingham, Ala. 35205
908 S. 20th St. Ph. 325-3327.
Boston, Mass. 02203
JFK Federal Bldg. 223-2312.
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334 Meeting St.
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W. Va. 25301
Digitized Charleston,
for500
FRASER
Quarrier St. Ph. 343-6181.
Maurice H. Stans / Secretary
Rocco C. Siciliano / Under Secretary
Harold C. Passer / Assistant Secretary
for Economic Affairs
14
21
25
George Jaszi / Director
Morris R. Goldman / Associate Director
Lora S. Collins / Editor
Leo V. Barry, Jr. / Statistics Editor
Billy Jo Hurley / Graphics
STAFF CONTRIBUTORS TO THIS ISSUE
Business Review and Features:
Donald A. King
Marie P. Hertzberg
Articles:
Genevieve B. Wimsatt
R. David Belli
Evelyn M. Parrish
CURRENT BUSINESS STATISTICS
General
S1-S24
Industry
S24-S40
Subject Index (Inside Back Cover)
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Ph. 353-4400.
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550 Main St. Ph. 684-2944.
Cleveland, Ohio 44114
666 Euclid Ave.
Ph. 522-4750.
Dallas, Tex. 75202
1114 Commerce St. 749-3287.
Denver, Colo. 80202
16419 Fed. Bldg., 20th & Stout Sts.
Ph. 297-3246.
Des Moines, Iowa 50309
609 Federal Bldg.
Ph. 284-4222.
Detroit, Mich. 48226
445 Federal Bldg. Ph. 226-6088.
Greensboro, N.C. 27402
258 Federal Bldg.
Ph. 275-9111.
Hartford, Conn. 06103
450 Main St. Ph. 244-3530.
Honolulu, Hawaii 96813
286 Alexander Young Bldg.
Ph. 546-5977.
Houston, Tex. 77002
515 Rusk Ave. Ph. 226-4231
Jacksonville, Fla. 32202
400 W. Bay St. Ph. 791-2796.
Kansas City, Mo. 64106
911 Walmit St. Ph. 374-3141.
Los Angeles, Calif. 90024
11000 Wilshire Blvd. 824-7591.
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238 W. Wisconsin Ave.
Ph. 272-8600.
Minneapolis, Minn. 55401
306 Federal Bldg. Ph. 725-2133.
New Orleans. La. 70130
610 South St. Ph. 527-6546.
New York, N.Y. 10007
26 Federal Plaza Ph. 264-0634.
Philadelphia, Pa. 19107
1015 Chestnut St. Ph. 597-2850.
Phoenix, Ariz. 85025
230 N. First Ave. Ph. 261-3285.
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1000 Liberty Ave. Ph. 644-2850.
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217 Old U.S. Courthouse Bldg.
Ph. 226-3361.
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235 U.S. Courthouse and P.O.
Bldg. Ph. 232-4321.
Seattle, Wash. 98104
8021 Federal Office Bldg.
Ph. 583-5615.
the BUSINESS SITUATION
preliminary, the January figures indicate that reductions were widespread,
save in durables manufacturing, and
point to the likelihood of a significant
first quarter decline in the rate of
accumulation as measured in GNP.
Other evidence of reduced accumulation
is provided by the latest OBE expectations survey (reported on pages 12-13
of this issue of the SURVEY), which
found manufacturers expecting the book
value of their inventories to rise about
$1 billion this quarter as compared with
$1% billion in the fourth quarter of
1969.
The evidence regarding changes in
JLo judge from the indicators now final sales is mixed but, on balance,
available—which at best reflect devel- shows slower economic expansion. It
opments only through February—GNP seems likely that consumption expendin the current quarter appears to be itures and business fixed investment will
headed for the smallest increase in 3 add roughly the same amount to GNP
years. The persistent rise of price levels growth in the first quarter as in the
seems to assure that all of the increase closing quarter of last year, but that
will reflect higher prices; the probability residential investment and government
is that national output measured in purchases will add less. The growth of
constant prices will register a small exports may outpace that of imports
decline.
this quarter, resulting in a small gain
It is always particularly difficult to in net exports—which were unchanged
assess the likely behavior of inventory in the fourth quarter.
investment, but the problem is even
Personal consumption expenditures
greater in a period when economic will likely show a relatively large rise
activity is decelerating. Historically, in the first quarter, despite the ongoing
such periods have often seen large shifts weakness in durable goods demand. The
in the accumulation rate, as business- available information on sales indicates
men first found inventories growing to moderate strength in consumer spendan undesired level, and then steeply ing for services and nondurables. The
cut the pace of investment in order to
bring holdings into line. The only data slack in durable goods buying is largely,
available on developments since year- but by no means exclusively, related to
end indicate that the book value of the sluggish demand for new cars. New
business inventories fell nearly $% bil- car sales declined sharply in January,
lion in January, following an average but picked up in February with the inmonthly rise of a bit more than $1 troduction of some new models and
billion in the fourth quarter. Though extensive sales promotion programs.
The data now at hand suggest that
GNP is headed this quarter for the
smallest increase in 3 years. Severe inflationary pressures seem to assure that
all of the increase will reflect higher
prices; the probability is that real output will register a small decline.
Decelerating economic activity was
clearly evident in the statistics for
February, even though production and
employment were boosted by the end
of the strike in the electrical equipment
industry.
CHART 1
Industrial Production
Has declined steadily since last summer...
1957-59 = 100 (ratio scale)
180 -
160 -
with reductions in output for the
three principal market sectors
200
180 -
160 -
140 -
On an industry basis, the decline
centers in durables manufacturing
220
200 -
180 -
160 -
140 -
120 -
1966
1967
1968
1969
1970
Seasonally Adjusted
Data: FRB
U.S. Department of Commerce, Office of Business Economics
70-3-1
SURVEY OF CURRENT BUSINESS
Preliminary information for early
March, however, indicates that car
sales continue sluggish but above the
depressed level of Janaury. Spending
for cars has been dampened not only by
the slowdown of unit sales but also by
an apparent shift of consumer preference in recent months toward less
expensive models.
Nonresidential fixed investment is
continuing to show surprising strength.
Results of the latest OBE-SEC survey
of businessmen's expectations indicate
a very sizable 10% percent rise in capital
spending this year from last year's total
of $75% billion (see pages 14-20). This
finding is in line with the earlier reports
of private surveys which showed a 1970
increase on the order of 10 to 12 percent.
These spending programs, which were
reported against a backdrop of extremely high interest rates and severe
credit stringencies, production cutbacks,
declining profits, and low capacity
utilization rates, appear to be heavily
influenced both by persistent inflationary expectations and by anticipation
of large capacity requirements in the
future. A desire to improve efficiency, in
the face of rising labor costs, is probably
also an important motivation.
Investment in housing, on the other
hand, is weak. After showing no change
in the closing quarter of last year, residential construction expenditures are
likely to record a moderate decline in
the current quarter. Because outlays
respond to developments in housing
starts with a lag of several months, the
sharp 101/2 percent rise of starts in February—to a seasonally adjusted annual
rate of 1.3 million units—will not weigh
heavily in this quarter's spending.
Rather, current outlays will mainly
reflect the accelerated decline in starts
in the late months of 1969 and in
January of this year.
Government purchases of goods and
services also appear to be contributing
less to demand growth this quarter than
last. State and local governments' purchases are likely to rise about in line
with the fourth quarter advance, but
the decline in Federal purchases, principally in defense spending, is apparently accelerating. Here it may be noted
that the decline in defense purchases
is largely associated with a reduction
in the number of active duty military
personnel: Armed forces strength
totaled 3,255,000 men at the end of
January, down from an average of
3,370,000 in the fourth quarter of last
year and 3,457,000 in the third.
March 1970
from 3.5 percent in December to 3.9
percent in January, jumped to 4.2
percent—the highest rate in more
than 4 years. The February increase,
which resulted from a decline in the
number of employed workers with no
change in the labor force, was almost
wholly concentrated among full-time,
February developments
adult workers. Roughly one-third of
The statistics for February evidence the February rise in the number of the
the deceleration of economic activity, unemployed was due to cutbacks in the
though production and employment auto industry, and close to two-thirds
were boosted by the end of the strike of the rise for January and February
in the electrical machinery industry. together consisted of workers who lost
Industrial production declined further, their jobs rather than new entrants to
unemployment rose again, nonfarm the labor force seeking work.
The weakening in demands for labor
payroll employment remained slack,
and sluggish growth in personal income is also reflected in the monthly figures
on the number of jobs in nonagriculpersisted.
Because of further retrenchments in tural establishments. The total would
manufacturing industries, production have declined significantly last month,
recorded its seventh consecutive decline rather than showing no change, had it
last month. The Federal Reserve index not been for the return of striking workwas down one-half of 1 percent from ers at the General Electric Co. As may
January and stood 3 percent below its be seen from the table below, the slowpeak of last July. February saw wide- down in nonfarm employment is
spread declines in the output of both broadly based but especially pronondurable and durable goods, which nounced in durable goods manufacturmore than offset the spurt in machinery ing.
production associated with the strike
settlement. If the strike had not ter- Changes in Nonagricultural Employment*
minated, February production would
[Thousands of workers, seasonally adjusted]
have declined about 1 percent.
1970
It 69
The slide in industrial production
since last summer has centered in
I**
I
III
II
IV
manufacturing industries, and partic275
117
810
569
345
ularly in the durables group. From July Total employment
72
23
135
91
126
to February, the index of durable goods Government
90 -176
-171
163
81
output dropped 5% percent while that Manufacturing
45
95 -183
-199
Durables
148
for nondurable goods fell 1% percent.
6
Nondurables
13
37
-5
29
Moreover, the near term prospects for Other private
232
512
397
326
216
durable goods output are not enhanced
' Changes between quarterly averages.
by the trend of new orders. Although
'* Average January and February.
up in February—because of an unusually
large increase in orders for aircraft—
Although the workweek edged up a
new orders have been on a downtrend since early last fall. During the bit in February when averaged for all
5 months ending in February, the flow employees on nonfarm payrolls, it
of new orders to durable goods pro- dropped 0.4 hour (seasonally adjusted)
ducers recorded monthly declines that in manufacturing. That decline matched
averaged nearly 2 percent. This con- the one in January and, at 39.9 hours,
trasts with an average monthly gain the February workweek was down alof about 1 percent during the 12 months most 1 hour from last September.
ending last September.
The softness in labor demand conThere was further evidence last tinues to be reflected in sluggish growth
month of a slackening in labor markets. in personal income. In February, perThe unemployment rate, which spurted sonal income rose $3% billion, about
SUKVEY OF CURRENT BUSINESS
March 1970
evenly divided between wage and salary
disbursements and the nonwage components of income. Most of the advance in wages and salaries was in the
service industries; government and the
distributive industries recorded very
small increases, while payrolls in the
commodity producing industries declined. That drop was due to a sharp
reduction in manufacturing payrolls
which, because of lower employment
and hours of work, were down $1% billion following a $1 billion decline in
January. The February decline reflected
widespread reductions that outweighed
the rise in the electrical equipment
industry.
Some easing in interest rates
After reaching historic highs late last
year, market rates of interest, particularly in the short-term sector, turned
about and were generally still declining
at mid-March. The downward movement in rates seemed to be largely
attributable to some reassessment of
market participants' expectations—an
outgrowth no doubt of the ongoing deceleration in economic activity. Nevertheless, there has not been any notable
letup in the demand for credit, and
visible demands, particularly in longterm markets, are very strong. Moreover, through February, the major
monetary aggregates—money stock,
bank reserves, monetary base—were
not providing evidence of a change in
the restrictive posture of monetary
policy.
Changes in Selected Interest Rates*
[Basis points]
Dec. Mar. June Sept. Dec.
1968- 1969- 1969- 1969- 1969Mar. June Sept. Dec. mid1969 1969 1969
1969 Mar.
1970
Federal funds
3-month Treasury bills,
market yield
0.25 -0.18 -1.25
0.77
2.11
.07
.42
.65
.73
-.99
Prime commercial paper,
4-6 months
Prime bankers' acceptances, 90 days
.65
1.41
.25
.36
-.34
.46
1.33
.15
.44
-.70
U.S. long-term bonds
Corporate Aaa
.40
.40
.01
.13
.26
.16
.49
.58
-.45
.08
State and local Aaa
.47
.61
.25
.67
-.70
* Changes computed from monthly averages.
Slowdown in installment credit
Since mid-1969, a slower rate of installment credit growth has accompained the weakness in consumer spending for durables and other types of
goods and services that are typically
purchased on credit. During the 7
months ending with January of this
year, the net growth of installment
credit—extensions minus repayments—
was $7 billion at a seasonally adjusted
annual rate. That represented a substantial reduction from the annual rate
of $9 billion set in the first half of last
year—which matched the record expansion recorded for the full year 1968.
The abatement of credit use has
intensified in recent months and in
January, the latest month for which
data are available, net credit expansion
was at a seasonally adjusted annual
rate of only $4% billion. That was less
than half the increase as recently as
last June, and the smallest monthly
rise since late 1967 when credit use was
recovering from the lows reached during
the mini-recession in the first half of
that year.
The recent tapering in the use of
installment credit is related in large
part to declining auto sales. Because
automobile credit is an important and
volatile component of consumer credit,
its fluctuations exert a major influence
on the pattern of installment credit
expansion (lower panel, chart 2). Auto
credit expansion, after rising from the
slump in 1967 to reach a seasonally
adjusted annual rate of $3% billion in
the last half of 1968, fell moderately
in the first half of 1969 and further, to
a $2.0 billion annual rate, in the second
half. Since last November, consumers
have sharply cut their use of automobile
credit in line with their reduced rate
of auto purchases. In January, outstanding auto paper was up less than
$% billion, at a seasonally adjusted
annual rate, the smallest expansion in
more than 2 years.
A similar though less pronounced
slowdown has also been evident in the
expansion of the nonauto component
of installment credit—mainly consumer
goods paper and personal loans. The
expansion rate reached an alltime high
in the second half of 1968 and then fell
slightly in the first half of 1969 and
more steeply thereafter.
In assessing changes in consumer use
of credit, it is sometimes useful to
relate installment credit flows to income. Here the developing weakness
in consumer demand for credit is
apparent in the sharp drop in the ratio
of credit extensions to disposable personal income. This ratio held at a near
record 16% percent in the year following
imposition of the income tax surcharge—that is, from mid-1968 to
mid-1969—but then dropped nearly a
full percentage point in the second half
of last year. Moreover, debt repayments, which took a record 15% percent
of disposable income in the second
quarter of 1969, declined to 14% percent of
income in the closing quarter of last year.
CHART 2
Consumer Installment Credit
Billion $
30 -
(Quarterly Totals)
25 Extensions
20 ' Repayments
15
i
i
i
I i
I I I i
I i
I i i
NET CHANGE*
3 -
All Other
lull
1965
66
67
68
69
70**
Seasonally Adjusted
*Extensions minus repayments.
**January at a quarterly rate.
Data: FRB
U.S. Department of Commerce, Office of Business Economics
70 3 - 2
SURVEY OF CURRENT BUSINESS
March 1970
In February: The jobless rate rose to 4.2 percent, the highest in over 4 years
Nonfarm payroll employment continued to show no growth
Wholesale prices up 0.3 percent, about half the January advance
TOTAL PRODUCTION
THE LABOR MARKET
Billion $
1,000
PRICES
Million Persons
83
Percent
CIVILIAN LABOR FORCE AND
EMPLOYMENT*
81
950 -
Labor Force
900 -
79
850 -
77
75
800
Monthly (Feb.)
Quarterly (IV)
Billion $
Quarterly (IV)
Percent
1957-59=100
40
135
CONSUMER PRICES
UNEMPLOYMENT RATE*
130
Total
Total
125
Married Men
11 i 11 i 11 ii
M
Billion $
750
Total
-^^
Final Sales
-
i
-
Inventory Change
I
i
i
1
i
Quarterly (IV)
68
1
64
60
-
Hours
45.0
~
~ 140
..^
Man-Hours*
(right scale)
- 1 30
I 11 I I1 I 1I 11
42.5
Industrial C ommodities
~
120
1 05
-
-
100 i 1 1 i 1 1 1 i i i i 1 1 i i 1 1 1 1 1 i i
Dollars
6.40
~
i 11 ii1t 11 ii
Monthly (Feb.)
BLS
1957-59=100
1 60
WHOLESALE PRICES
~ 3.20
120
3.00
110
— 2.80
100
^.w
j-
Processed Foods ^^^
and Feeds x /
s^S—
/
—
"'
^
^''
III
,
• • • •!
«p»
37.5
35.0
1970
QBE
* Seasonally Adjusted * * Seasonally Adjusted at Annual Rates
U.S. Department of Commerce, Office of Business Economics
HO
BLS
40.0
1969
Quarterly (IV)
.^T
.jr^**^
Average Hourly Earnings
(right scale) \
-4
1968
Total
s-^
PRODUCTION OR NONSUPERVISORY WORKERS
(PRIVATE)
~
lln
X*
i 1 1 1 1 1 1 1 1 1 1 i 11 i 1 1 1 1 1 1 1
CONSTANT DOLLAR (1958) GNP**
(Change From Previous Quarter)
0
1957-59=100
120
115
Monthly (Feb.)
12
BLS
WHOLESALE PRICES
-^^>
QBE
Percent
4
Billions
Employment*
(left scale)
^'~~~~"
I
Monthly (Jan.)
_^~~H
s^
-
I
72
^-~—m
-
600
1 15 I. i I I I I I I I M I I I I I M I I I I M I I I I I I I I I I I I
BLS
NONFARM ESTABLISHMENTS
(Employees)
CONSTANT DOLLAR (1958) GNP**
8
I IIMIIII II
Million Persons
76
800
650
I 1 I I I I I I I
Monthly (Feb.)
Quarterly (IV)
700
120
\
10
Average Weekly Hours*
(left scale)
1 1 1 1 t 1 1 1 1 1 1 I iII11 | | |||
1968
1969
Monthly (Feb.)
1 11 1 1 1 1 M
1970
1 1
BLS
2.60
f'*\V
90 i 1 1 1 1 1 1 1 1 i i
1968
Farm Products
1 1 1 M
1 1 1 1 1 1
1969
Monthly (Feb.)
i 11 i11i 11 it
1970 BLS
SUEVEY OF CUEKENT BUSINESS
March 1970
•
•
•
In February: Personal income continued sluggish, up $3V3 billion
Retail sales advanced about 0.5 percent—New car sales jumped sharply
Plant and equipment outlays are expected to rise $3 billion in first half of 1970 and $5 billion in the second
INCOME OF PERSONS
CONSUMPTION AND SAVING
Billion $
850
FIXED INVESTMENT
Billion $
Billion $
650
100
PERSONAL INCOME**
PERSONAL CONSUMPTION EXPENDITURES**
Producers' Durable Equipment**
600
800
750
y
/s
700
650
' M i l l 1 Ml
II
.s/^l
-
550
_
500
75
^^
f^
—
_
1 II II 1 1 II 1 1
1 1 1 M i1 1 1 t 1
\
450
33
1
25
-
1
i
1
1
i
0
ii»n«
X^x
- 200
*"
1 11 1 1 i 1 1 1 M
25
150
1 1 1 1 1 1 1 I.I
Monthly (Feb.)
y~"
— -
90
i
100
)
80
^s
70
-
\s
\/
1 1 1 1 1 i 1 M 1 1
Monthly (Feb.)
1
AO
0
Domestic
(left scale)
10
r
^- v"^ \/ \ .
8
s^^
—
l
I
I
I
1
1
Quarterly (IV)
6
1111 11 11 11
1 1 1 1 1 1 M
1 1
Monthly (Feb.)
OBE
^
1
1
New Orders
*:
OBE-SEC
0
Lrdj2&\ >
~_&r™\
— 2
5
0
4
1 1 1 1 1 1 1 1 1
—
—
i i i i i i i i i i-i
Trade Sources & OBE
Percent
i 11 11 11 11 i
1 1 1 i 1 11 1111
Monthly (Jan.)
Census
Million Units
PRIVATE HOUSING**
PERSONAL SAVING RATE*
REAL PER CAPITA DISPOSABLE
PERSONAL INCOME**
-(In 1958 Dollars)
10
-
-
_
2.0
^
2,500
-
r
-
1968
i
l
i
t
1969
Quarterly (IV)
* Seasonally Adjusted
1
1
U.S. Department of Commerce, Office of Business Economics
6
4
1
1970
i
i
OBE
i
Starts
xA r ^
"\
Ax1968
* * Seasonally Adjusted at Annual Rates
1.5
_»*-v
i . i
-
8
~<^~~T^ ~'
2,300
i
i.i
1
12
2,700
2,400
1
-
• Estimated
Shipments
Imports
(right scale)
—
4
1
Dollars
2,600
6
tf
—
l
7
/S/^V
-
1 ~
MACHINERY AND EQUIPMENT*
(Manufacturing Firms)
.
«•
NEW CAR SALES**
- ^^-^
;*
s
Quarterly (II )
Billion $
DISPOSABLE PERSONAL INCOME
1
Census
\2
I
OBE
5
i i1 1 1 11 1 i 11 i i 11 1 1 11 111
OBE
s*
i
-—s ^^
\"
Excluding Automotive Group
20
15
t
/
-
Million Units
500
i
1
-
Billion $
550
1
-
700
650
1
PLANT AND EQUIPMENT
EXPENDITURES**
-
*
M
i
Quarterly (IV)
Manufacturing
(right scale)
600
_
s~^~~~
^
S^^
/
i
QBE
Tota
30
^*~
X/^^
~z^~
1
RETAIL STORE SALES*
-
1 1 1 I.I 1 1 1 1 II
?"*
Billion $
^X"**-*'
400
N
jn it., fn***"r"
100
WAGES AND SALARIES**
(left scale)
i
Quarterly (IV)
Billion $
Total
i
OBE
Billion $
450
-
"Nonresidential S ructures**
Residential Structures**
600
500
50
^^
Monthly (Feb.)
550
.
-^— — •
-
I
I
I
^
1969
Quarterly (IV)
1
1
1
1.0
.5
1970
OBE
-
Vy
/ —T
Permits
1 1 M 1i t 1 i M
! 1I 1 1 ! 1 1 1 11
1 M 1 i 1 1 I.I
1968
1969
1970
Monthly (Feb.)
Census
SUEVEY OF CURRENT BUSINESS
6
March 1970
*
In January: Book value of business inventories down $0.5 billion
m
Increase in imports 1 shaved the U.S. trade surplus to a slim $55 million
* Federal budget (NIA basis) registered a $6 3/4 billion surplus in fourth quarter
INVENTORIES
FOREIGN TRANSACTIONS
Billion $
Billion $
40
\z
I4U
NET EXPORTS* *
CHANGE IN BUSINESS INVENTORIES**
(GNP Basis)
30
GOVERNMENT
Billion $
-
-
8
FEDERAL PURCHASES OF
GOODS AND SERVICES**
-
-
120
-
-
Total
Goods and Services
20
-
10
-
~""*-"
0
.hi llll
o
s\
4
1
-4
Quarterly (IV)
Billion $
4.U
~
—
Total
150
EX
A
/^
2.5
Monthly (Jan.)
1
1
I
<sn
i 111 1 1 111ii
2.0
Census & QBE
If / '
;•
2
1 J Imports
:]
tf
y
* 1 I I i 1 i Ii 1 1
t.i 1 1 1 1 i i 1 1 1
0
_
Manufacturing _^*—~~T
,—-^
_
0
As
N/
Trade
\
40
Outflow
i iiii1 i iiii i iii i1 iiiii
1 1 1 1 1 1 1 1 1 1 i
Monthly (Jan.)
225
-2
Receipts
/
200
V
-
-
i
-4
i
i
1
1
i
i
i
i
Quarterly (IV)
Census & QBE
175
_...-••' V/'
i
150
Billion $
Billion $
4
1/5
^vv/
A
A
Official Reserve Transactions Basis
2
\
/
/
1.4
1.2
- Total Manufacturing and Trade
ii i i 1 1 i i i i i
1 I I 1 I 1 1 1 1 I 1
1969
1968
Monthly (Jan.)
~
1 1 1 1 I 1 i i t 1 .
1970
Census & QBE
* Seasonally Adjusted * * Seasonally Adjusted at Annual Rates
U.S. Department of Commerce, Office of Business Economics
-2
-4
.
1
I
I
I
QBE
1 25
i\ \/7/
/
Liquidity Basis A
\/
V.x
l
150
\"\ i
f/r*^*'
/"
l
\
A
I /L
i
STATE AND LOCAL PURCHASES
OF GOODS AND SERVICES**
BALANCE OF PAYMENTS*
Manufacturing
^"^
l
-
Quarterly (IV)
Ratio
18
l
Expenditures
QBE
2.0
INVENTORY/SALES RATIOS*
Census
_
Inflow
\
*
FEDERAL BUDGET**
(NIA Basis)
NET FLOW OF PRIVATE U.S. AND FOREIGN CAPITAL
(Other than Liquid Funds)*
-
QBE
Monthly (Jan.)
25V
1
60 s. *" """"""
i
i i i i i I i i i i i i 1 1 1 i 1 1 1 1 1i i iii i 1 i i i ii
Census
Billion $
80
i
1
4
2
i
I
,N> *
fA/^nL^f^
\j Shipments
\
M* '•*
Billion $
_
I
XN
Billion $
_
I
New Orders
120
100
I
Quarterly (IV)
3
Monthly (Jan.)
MANUFACTURING AND TRADE INVENTORIES*
(Book Value, End of Month)
I
QBE
mrk
If VV \
?\l^
»f
•AJ; /
i i11i1ii11v ii11i111111
1 1 1 1 ! 1 1 1 1 1 1
\
DEFENSE PRODUCTS*
\
+~/
140
1
-
"***
Defense
4
3.5 L
/ ^S
1
•"*"
Billion $
3.0
.X
Merchandise
I
1 1
1
~.
MERCHANDISE TRADE*
MANUFACTURING AND TRADE INVENTORIES*
(Book Value, End of Month)
160
1
100
80 L
Quarterly (IV)
180
-
\
QBE
Billion $
170
-
^s—:
^ S'
~"\
1
1968
1
1 VI
1
1969
Quarterly (IV)
i
i
i
100
75
1970
^—•—
- ^~~^
i
l
l
1968
QBE
i
l
-
l
i
I
i
1969 1970
Quarterly (IV)
QBE
SUEVEY OF CURRENT BUSINESS
March 1970
1
CHART 6
* In February: Industrial production declined for the seventh consecutive month
*
Bank credit up slightly, money supply down, interest rates lower
* Corporate profits and IVA (before taxes) dropped $3 % billion in fourth quarter
INDUSTRIAL PRODUCTION
MONEY, CREDIT, AND SECURITIES MARKETS
1957-59=100
Billion $
190
46U
24U
Durable Manufactures ^x
170
-
«•» •"* <f
420
**--. Total
V
/*""\ ,x JX^T^****/
"V rS
J>
~
*"* /^m? *
1
S~**y
Nondurable
Xy**""*
Manufactures
1 i 1 1 1 1 1 1 1 1 1
Monthly (Feb.)
200
80
180
60
1 1 1 1 1 i i 1 1 i i i 1 1 1 1 i i i 1 1 160
FRB
40
•*-
1 11111111 11
300
Before Taxes
FRB
Billion$
Billion $
z
I^U
- /
^/<
175
100
A /
1
0
x-O^^X
/ Steel
\
/
>.
~
V/~'^x>V
-1 _
\/
V
i i ii i1 ii 11 i i i ii i 1iiiii i iii i11 iiii
Monthly (Feb.;
FRB
-2
8
" Corporate Yields, Moody's Aaa
N
^i
V
6
—V
I
I
I
\
-
16
.tf\
x-*^*"V**""^
**
Billion $
1941-43 = 10
40
I4U
i
i
1
1
1
1
1
1
QBE
OUTPUT AND COMPENSATION PER MAN-HOUR,
PRIVATE ECONOMY*
_ (Change From Previous Quarter)
8
e
lI I I i1 1 I111
Compensation
*
_
ri
JfinJ J[1J
• •
-ft
Quarterly (IV)
BLS
Percent
24
STOCK PRICES
DURABLE GOODS MANUFACTURERS*
120
_
V_
n..^,,*
.-./
i i ii 1i ii ii I 1 I i i 1 1 I1I 1
Monthly (Feb.)
2
_
1
Quarterly (IV)
3-month Treasury Bills
FRB
_
T
Profits After Taxes
40
...X "\ ••" \
4
I I I
Quarterly (IV)
~~
FRB
/>
80
36
QBE
Percent
Manufacturing
I
1 1 1 I 1 1 1 1 1 II
INTEREST RATES AND BOND YIELDS
-
I
I
24
RATIO, OUTPUT TO CAPACITY*
I
60
Monthly (Feb.)
10
75
i
~~
•—-—"""""
1 1i1 1 11 111 1
1 1 11 1 11 1 1 11
Percent
^-
100
80
\*~+/^~^***
95
85
i
1
Cash Flow
Percent
90
1
CORPORATE CASH FLOW AND PROFITS**
FREE RESERVES
K\ 1/ *\
\1
\
S\
1
\
1
Autos
\
150
i
Quarterly (IV)
1957-59=100
175
—
i
200
f^^\+.
x
\
^
Monthly (Feb.)
INDUSTRIAL PRODUCTION*
_
\
Money Supply
(right scale)
340
1 1 1 1 1 1 1 1 1 1 1
100
..-*1***
S
1 1 i 1 1 1 1 1 1 1 1
- 220
^
380
^/>-'
X*^x*
160
150
CORPORATE PROFITS AND IVA **
Bank Credit
(left scale)
s'x7"Ss>L
\
120
BANK CREDIT AND MONEY SUPPLY*
INDUSTRIAL PRODUCTION*
180
PROFITS AND COSTS
Billion $
_
_
16
_
8
_
UNIT LABOR COSTS, PRIVATE ECONOMY*
(Change From Previous Quarter)
_
Standard and Poor's 500
New Orders
32
—
**—^™
24
;.
—
i^f^
90
\
S*\
i
100
\^
80
Shipments
i i 1 1 11 i 11 i i i 1 1 i i 1 i 1 1 i i i1 1 i 11i 11 ii
1968
1969
1970
Ce SUS
Monthly (Jan.)
"
Seasonally Adjusted * * Seasonally Adjusted at Annual Rates
U.S. Department of Commerce, Office of Business Economics
60
'
V
l.il Illl
T
i i i i i l.i i.i i i 1 1 1 1 1 1 i 1 1 i i i 1 1 i 1 1 i M 1 1
1968
1969
Monthly (Feb.)
_
1970
-R
1968
1969
Quarterly (IV)
1970
BLS
SURVEY OF CUERENT BUSINESS
8
March 1970
NATIONAL INCOME AND PRODUCT TABLES
1968
1968
1969
III
1969
II
IV
1968
III
IV
1968
1969
III
Seasonally adjusted at annual rates
1969
IV
II
III
IV
Seasonally adjusted at annual rates
Billions of current dollars
Billions of 1958 dollars
Table 1.—Gross National Product in Current and Constant Dollars (1.1, 1.2)
Gross national product Personal consumption expenditures Durable goods
Nondurable goods
Services
--
865.7
932.1
876.4
892.5
908.7
924.8
942.8
952.2
707.6
727.5
712.8
718.5
723.1
726.7
730.6
729 8
-
536.6
576.0
544.9
550.7
562.0
572.8
579.8
589.5
452.6
466.1
458.2
457.6
462.9
466.2
466.5
468 6
83.3
230.6
222.8
89.8
243.6
242.6
85.8
233.3
225.8
86.3
234.3
230.1
88.4
238.6
235.0
90.6
242.1
240.1
89.8
245.1
244.9
90.4
248.7
250.3
80.7
196.9
175.0
84.9
199.4
181.8
83.0
198.7
176.5
82.7
197.2
177.7
84.3
199.3
179.3
85 9
199.3
181 0
84 7
199 3
182 5
84 8
199 6
184 2
_. _- -_
Gross private domestic investment
Fixed investment
Nonresidential _ _ __ _ - - _ _ _ _
Structures
Producers' durable equipment
Residential structures
Nonfann
Farm
-. _
..--
-
Change in business inventories. __
Nonfarm
Farm
_. _
Net exports of foods and services
-
Exports
Imports
-
-
Government purchases of goods and services
Federal
National defense
Other
State and local. „ . _ _
-
_ __
--
126.3
139.4
125.2
133.9
135.2
137.4
143.3
141.8
105.7
111.8
104.1
110.9
109.9
110 8
114 3
112 2
119 0
131.4
118.0
123.4
128.6
130.5
132.5
134.0
99.1
104.8
97.7
101.4
104 0
104 8
105 0
105 5
88.8
29.3
59.5
99.2
33.4
65.8
88.1
29.0
59.1
91.5
30.1
61.4
95.3
32.3
63.0
97.8
32.1
65.7
101.1
34.7
66.4
102.5
34.5
68.0
75.8
22.7
53.2
81.4
24.0
57.4
75.0
22.2
52.7
77.3
22.9
54.4
79.4
23.9
55.5
81.0
23 3
57.7
82.4
24 6
57.8
82 8
24 3
58 6
30.2
29.6
.5
32.2
31.7
.5
29.9
29.4
.5
31.9
31.4
.5
33.3
32.8
.5
32.7
32.2
.5
31.4
30.9
.5
31.6
31.0
.5
23.3
22.8
.4
23.4
23.0
.4
22.7
22.3
.4
24.1
23.7
.4
24.6
24.2
.4
23 8
23.4
4
22 6
22.2
4
22 7
22.3
4
7.3
7.4
-.1
8.0
7.8
.2
7.2
7.5
—.3
10.5
10.7
-.2
6.6
6.6
.0
6.9
6.7
.2
10.7
10.3
.4
7.7
7.4
.4
6.6
6.7
—.1
6.9
6.7
.2
6.4
6.7
-.3
9.6
9.8
-.2
5.9
5.9
.0
6.0
5.8
.2
9.3
89
.4
6.7
64
3
2.5
2.1
3.6
1.2
1.5
1.6
2.7
2.7
.9
.0
1.7
— .2
— .3
— .5
.4
.5
50 6
48.1
55.3
53.2
53.4
49.7
50.6
49.4
47.6
46.1
57.1
55.5
57.8
55.2
58.6
55.9
45.6
44.7
48.0
48.0
48.0
46.3
45.5
45.7
41.9
42.2
50 4
50.8
50 2
49.8
49 7
49.2
200.3
214.6
202.5
206.7
210.0
212.9
217.0
218.3
148.4
149.7
148.8
150.2
150.6
150.2
149.4
148.4
99 5
78 0
21 5
101.9
79 2
22.7
100.9
78 8
22 1
101.9
79 3
22 5
101.6
79 0
22.6
100.6
78 5
22 1
103.2
80 3
22 9
102.3
79.2
23.1
78.9
76.0
79.2
79.4
78.3
76.3
75.5
73 9
100.7
112.7
101.7
104.8
108.5
112.3
113.8
116.0
69.5
73.7
69.6
70.8
72.3
73.9
73.9
74.6
Table 2.—Gross National Product by Major Type of Product in Current and Constant Dollars (1.3, 1.5)
Gross national product .
Final sales
_
Change in business inventories
_
865.7
932.1
876.4
892.5
908.7
924.8
942.8
952.2
707.6
727.5
712.8
718.5
723.1
726.7
730.6
729.8
858.4
7.3
924.1
8.0
869.2
7.2
882.0
10.5
902.1
6.6
917.9
6.9
932.0
10.7
944.5
7.7
701.0
6.6
720.6
6.9
706.3
6.4
709.0
9.6
717.2
5.9
720.7
6.0
721.3
9.3
723.1
6.7
431.1
459.8
437.0
443.5
447.9
456.5
465.9
468.8
381.3
392.7
385.5
388.2
389.1
391.6
395.9
394.2
Final sales
Change in business inventories
423 7
7.3
451 8
8.0
429.9
7.2
433.0
10.5
441.3
6.6
449.6
6.9
455.2
10.7
461.1
7.7
374.7
6.6
385.8
6.9
379.1
6.4
378.7
9.6
383.2
5.9
385.7
6.0
386.6
9.3
387.5
6.7
Durable goods.. _ __ _
Final sales
Change in business inventories
176.7
171 4
5.3
191.7
186 2
5.5
178.8
173.7
5.1
184.0
176.6
7.4
186.4
181.6
4.8
190.3
185.5
4.9
195.4
187.8
7.6
194.6
189.9
4.7
162.8
158.0
4.7
171.9
167.2
4.7
164.5
159.9
4.5
167.8
161.2
6.5
169.0
164.8
4.2
171.4
167.3
4.1
174.7
168.1
6.6
172.6
168.6
4.0
Nondurable goods
Final sales
Change in business inventories
254 4
252 3
20
268.1
265 6
2 5
258 3
256 1
21
259 5 261.5
256 4 259 7
1.8
31
266 2
264 1
21
270 5
267 4
3.1
274.2
271.2
3,0
218.6
216 7
1.9
220.8
218.6
2.2
221.1
219.2
1.9
220.5
217.5
3.0
220.2
218.4
1.7
220.2
218.4
1.9
221.2
218.5
2.7
221.5
218.9
2.6
347.5
377.4
353.2
358.5
365.8
373.4
381.6
388.6
259.9
267.1
262.4
262.7
264.6
267.0
267.6
269.3
87.1
95.0
86.1
90.6
94.9
94.8
95.3
94.8
66.4
67.7
64.8
67.5
69.3
68.0
67.1
66.3
Goods output.
Services
Structures
Table 3.—Gross National Product by Sector in Current and Constant Dollars (1.7, 1.8)
Gross national product
Private
Business
Nonfarm
Farm
_
._
__
865.7
932.1
876.4
892.5
908.7
924.8
942.8
952.2
707.6
727.5
712.8
718.5
723.1
726.7
730.6
729.8
770-5
828.0
779.2
794.0
808.5
822.7
836.5
844.3
647.9
666.5
652.6
658.3
662.6
665.8
669.4
668.2
740 6
715.7
24 9
795 3
768.3
27 0
749 3
724.1
25 2
763.1
738.4
24 7
776.7
751.1
25 7
790 5
763 0
27 6
803.6
775.9
27 7
810.3
783.3
26.9
627.5
604.2
23.3
645.2
621.7
23.5
632.1
608.8
23.4
637.5
614.6
22.9
641.5
617.8
23.7
644.8
621.1
23.7
648.2
624.1
24.1
646.5
624.0
22.6
17.8
25.2
28.6
25.0
26.0
27.2
28 3
28.9
30.0
15.9
17.3
15.7
16.2
16.8
17.2
17.4
Rest of the world
4 7
4kl
4 9
4.9
4.5
39
4.1
4.0
4.5
3.9
4.7
4.6
4.3
3.7
3.9
3.8
General government..
95.2
104 1
97.1
98.5
100.2
102 1
106.2
108.0
59.7
61.0
60.2
60.2
60.5
60.9
61.1
61.6
Households and institutions
SURVEY OF CURRENT BUSINESS
March 1970
1968
1969*
III
1968
1969
1968
IV
I
II
1968 1969*
III 1 IV*
National income
865.7 932.1 876.4 892.5 908.7 924.8 942.8 952.2
73.7
74.6
75.9
77.2
78.6
79.9
792.4 854.2 802.6 817.9 832.8 847.6 864.2 872.3
Equals : Net national product
Less: Indirect business tax and nontax
77.9 86.6 79.4 81.4 83.3 85.7 88.0 89.4
liability .
3.4
3.5 3.5 3.6 3.6
3.4
3.6
3.6
Business transfer payments
Statistical discrepancy.
- . -2.5 -6.0 -3.3 -3.4 -4.2 -6.5 -6.9 -6.2
Plus: Subsidies less current surplus of
government enterprises
Less: Corporate profits and inventory
valuation adjustment
Contributions for social insurance
Wage accruals less disbursements
-- - Plus: Government transfer payments
to persons
Interest paid by government
(net) and by consumers
Dividends
Business transfer payments
Equals: Personal income
.8
1.1
1.1
.9
1.1
.9
1.1
1.2
714.4 771.1 724.1 737.3 751.3 765.7 780.6 786.7
Equals : National income
87.9
88.2
90.6
90.3
89.5
89.2
88.8
85.4
47.0
54.4
47.6
48.6
52.7
53.8
55.1
56.1
.0
.0
.0
.0
.0
.0
.0
.0
55.8
61.9
56.7
58.1
60.1
61.3
62.5
63.6
26.1
23.1
3.4
28.7
24.6
3.6
26.4
23.6
3.4
27.4
23.8
3.5
27.9
23.8
3.5
28.5
24.3
3.6
28.9
24.9
3.6
29.7
25.2
3.6
. ... 687.9 747.2 696.1 711.2 724.4 740.5 756.5 767.4
Compensation of employees
Wages and salaries
Private
Military _ .
Government civilian..
50.2
52.7
53.8
55.0
56.1
24.7
25.3
27.3
27.9
28.6
29.1
24.2
26.2
24.5
25.0
25.5
26.0
26.4
26.9
Other labor income
Employer contributions to private pension and welfare funds
Other ..
Proprietors' income
Business and professional
Income of unincorporated enterprises
Inventory valuation adjustment
Farm
37.5
34.5
38.0
Personal consumption expenditures. 30.2
Producers' durable equipment
5.3
Change in dealers' auto inventories.. 1.0
31.7
5.6
.1
31.7
5.6
-.6
31.4
5.5
1.5
30.9 31.4
5.4
5.5
1.1 -1.4
32.1
5.6
1.2
32. 4
5- 7
—• 5
-.8 -1.2 -1.0 -1.2
2.0
2.0
2.3
2.0
2.8 3.4
3.0
3.2
-.2 -1.4 -1.4 —1-7
2.3
2.3 2.4
2.5 3.7 3.8 3. 6
32.4
4.3
33.4
4.6
Addenda:
New cars, domestic 8 .
New cars, foreign
32.3
5.6
32.6
4.3
33.9
4.7
30.7
5.4
34.2
5.5
30.9
7.0
Billions of 1958 dollars
Gross auto product
l
35.1
35.0
35.2
36.2
Personal consumption expenditures . 29.4 30.3 30.9 30.2
Producers' durable eciuipment
5.2
5.4
5.5
5.4
Change in dealers' auto inventories.. 1.0
.1 -.6
1.5
Net exports.. .
-.8 -1.2 -1.0 -1.2
Exports .
2.0
2.2
2.0
1.9
Imports
.
2.8 3.4
3.0
3.2
Addenda:
New cars, domestic J
New cars, foreign . .
32.1
4.3
31.5
5.5
32.4
4.3
33.3
4.6
36.2
33.0
36.4
34.5
29.7 30.1
5.3
5.4
1.1 -1.3
30.7
5.5
1.2
30 8
~* 5
-.2 -1.4 -1.4
-}'
U
2.3
2.3
2.4
2.5 3.7 3.8 3<5
32.7
4.5
30.0
5.3
33.4
5.3
on
29. n9
6 8
'
1. The gross auto product total includes Government purchases.
2. Differs from the gross auto product total by the markup on both used cars and
foreign cars.
* Corporate profits (and related components and totals) are preliminary and subject to
revision next montn.
377-332 O - 70 - 2
63.8
66.3
64.1
64.1
64.6
66.5
67.3
66.7
49.2
50.2
49.3
49.7
49.7
50.1
50.5
50.4
49.9
—.7
51.1
-.9
14.6
16.1
14.8
14.4
14.9
16.4
16.8
16.3
21.2
21.6
21.2
21.4
21.5
21.6
21.7
21.8
Corporate profits and inventory valuation adjustment
87.9
88.2
90.6
90.3
89.5
89.2
88.8
85.4
91.1
93.8
91.5
94.5
95.5
95.4
92.5
91.6
41.3
49.8
23.1
26.7
43.3
50.5
24.6
25.9
41.4
50.0
23.6
26.5
42.9
51.6
23.8
27.8
43.9
51 7
23 8
27.9
44.1
51.3
24 3
27.0
42.8
49.7
24.9
24.9
42.5
49 1
25.2
23.9
-3.2 -5.6
28 0
30 6
-.9 -4.2 -6.1 -6.2 -3.7 -6.2
28 4
29 3
29 8
30 3 30 9
31 6
lauie <.—national income oy inausiry juivision \L»IIJ
All industries total
37.5
20.1
4.1
Rental income of persons
Table 5.—Cross Auto Product in Current and Constant Dollars
(1.15, 1.16)
=
Billions of current dollars
36.0
369.0 405.3 372.7 382.8 392.5 402.0 410.2 416.6
18.0 19.2 18.7 18.3 18.2 18.4 20.1 19.9
78.0 85.4 79.3 80.9 82.5 84.0 86.6 88.5
49.1
Inventory valuation adjustment
36.6
513.6 564.3 519.8 532.3 546.0 558.2 571.9 581.1
465.0 509.9 470.7 482.1 493.3 504.3 516.9 525.0
54.4
Net interest
35.9
714.4 771.1 724.1 737.3 751.3 765.7 780.6 786.7
28.2
Profits tax liability
Profits after tax
Dividends
Undistributed profits . ...
Net exports
Exports _
Imports
IV*
Supplements to wages and salaries . . 48.6
Employer contributions for social
24.4
insurance
Profits before tax
Gross auto product »
III
Table 6.—National Income by Type of Income (1.10)
Table 4.—Relation of Gross National Product, National Income,
and Personal Income (1.9)
77.9
II
Billions of dollars
Billions of dollars
Less: Capital consumption allowances. 73.3
I
Seasonally adjusted at annual rates
Seasonally adjusted at annual rates
Gross national product
IV
III
1969
Mining and construction
Manufacturing
Nondurable goods
Durable goods
714.4 771.1 724.1 737.3 751.3 765.7 780.6 786.7
21.9 23.9 22.2 21.9 22.6 24.2 24.5
42.9 48.0 43.1 44.4 45.9 47.8 48.6
215.4 229.1 218.2 222.7 225.3 228.9 231.6
82.9 88.1 84.2 85.4 86.1 88.3 88.5
132.5 140.9 134.1 137.3 139.1 140.5 143.2
Transportation
27.2 29.0 27.5 27.8 28.2 28.9 29.3
14.2 15.5 14.4 14.9 15.3 15.6 15.4
Electric, gas, and sanitary services _ _ 13.7 14.6 14.2 13.9 14.2 14.2 15.1
Wholesale and retail trade
105.2 112.5 106.6 107.8 109.5 111.7 113.9
Finance, insurance, and real estate. . 78.2 85.2 79.3 80.9 82.9 84.4 86.0
Services
86.1 94.4 86.5 89.3 92.1 93.6 95.0
Government and government enterprises
. .
105.0 114.8 107.1 108.7 110.6 112.5 117.1
Kest of the world
4.7
4.1 4.9
4.9
4.5
3.9
4.1
Table 8. —Corporate Profits (Before Tax) and Inventory Valuation
Adjustment by Broad Industry Groups (6.12)
AH industries, total
Financial institutions.
Mutual
Stock
Nonfinancialcorporations.
*^
Manufacturing
87.9
88.2
90.6
90.3
89.5
89.2
88.8
85.4
11.5
12.9
12.1
11.9
12.3
12.7
13.3
13.3
76.4
75.3
78.5
78.5
77.2
76.5
75.6
72.1
44.4
19.9
43.9
20.4
45.4
20.4
46.2
20.4
45.1
20.3
44.9
21.0
43.8
20.0
2.1
9.4
SUEVEY OF CUERENT BUSINESS
10
1969
1968
1968 1969*
III
March 1970
IV
I
II
1968
III
IV*
1968
1969
Seasonally adjusted at annual rates
45.9
49.1
46.2
46.7
47.7
48.6
49.6
50.5
44.8
49.0
45.8
46.6
47.3
48.5
49.8
50.5
Income originating in corporate business
- - - - 403.5 434.8 409.6 417.4 425.0 433.0 439.9 441.2
318.4 348.9 321.9 329.8 338.2 346.0 353.4 358.0
Compensation of employees.
284.3 311.0 287.4 294.7 301.3 308.5 315. 1 319.1
Wages and salaries.
34.1 37.9 34.5 35.1 36.9 37.6 38.3 38.9
Supplements
Corporate profits and inventory
valuation adjustment
Profits before tax
Profits tax liability
Profits after tax
Dividends
Undistributed profits
Inventory valuation adjustment..
Cash flow gross of dividends .
Cash flow, net of dividends
Gross product originating in
financial institutions
1.2
1.6
83.9 84.2
87.2 89.7
41.3 43.3
45.8 46.4
21.5 22.9
24.3 23.5
-3.2 -5.6
1.3
1.4
1.5
1.6
1.7
1.8
86.4 86.2 85.2 85.3 84.8 81.4
87.3 90.4 91.3 91.6 88.5 87.6
41.4 42.9 43.9 44.1 42.8 42.5
45.9 47.5 47.4 47.5 45.7 45.1
21.9 22.2 22.1 22.8 23.3 23.6
24.0 25.3 25.3 24.7 22.5 21.5
-.9 -4.2 -6.1 -6.2 -3.7 -6.2
Net interest
Corporate profits and inventory
valuation adjustment.
Profits before tax
_
Profits tax liability
Profits after tax
Dividends
Undistributed profits
Inventory valuation adjustment. __
Cash flow, gross of dividends..
Cash flow, net of dividends _
Wage and salary disbursements
Commodity-producing industries ..
Manufacturi n g_
Distributive industries
Service industries _ .
Government
Other labor income
__
Proprietors' income .
Business and professional
Farm
Rental income of persons.. . . .
Dividends
Personal interest income _
91.7
70.2
95.5
72.6
92.1
70.2
94.2
72.1
95.1
73.0
96.1
73.3
95.3
72.1
95.7
72.1
22.8
26.0
23.6
23.9
24.9
25.6
26.4
26.9
Less: Personal contributions for
social insurance
44.6
47.7
44.9
45.4
46.4
47.3
48.2
49.1
43.0
47.0
43.9
44.7
45.3
46.5
47.8
48.5
Income originating in nonfinancial
383.8 412.2 389.2 396.7 403.3 410.7 416.9 417.7
corporations _ _ . __ __
Compensation of employees.
Wages and salaries
Supplements
Personal income
Transfer payments..
Old-age, survivors, disability, and
health insurance benefits
State unemployment insurance
benefits
Veterans benefits
Other
Gross product originating in
471.4 506.9 478.0 486.8 495.0 504.5 512.8 515.3
no n financial corporations
Capital consumption allowances _
Indirect business taxes plus transfer
payments less subsidies
300.6 328.8 303.7 311.0 318.7 326.2 333.2 337.3
268.6 293.4 271.5 278.2 284.2 291.1 297.3 300.9
31.9 35.5 32.2 32.8 34.5 35.1 35.8 36.4
10.9
12.0
72.4 71.3
75.6 76.8
35.6 36.8
40.0 40.1
20.4 21.7
19.6 18.4
-3.2 -5.6
84.6
64.2
87.8
66.1
11.1
11.4
11.7
11.9
12.2
12.4
74.3 74.3 72.9 72.6 71.6 68.1
75.2 78.5 79.0 78.8 75.3 74.3
35.5 37.0 37.7 37.7 36.1 35.6
39.7 41.5 41.3 41.2 39.2 38.7
20.7 20.9 20.9 21.5 22.0 22.3
19.0 20.6 20.4 19.6 17.2 16.4
-.9 -4.2 -6.1 -6.2 -3.7 -6.2
84.7
63.9
86.9
66.0
87.6
66.8
88.4
66.9
87.4
65.4
87.8
65.5
Less: Personal tax and nontax payments __
Gross product originating in
nonfinancial corporations
415.9 431.7 420.8 425.1 427.7 431.9 434.3 432.6
IV
Current dollar cost per unit of
1958 dollar gross product
originating 2in nonfinancial
corporations
1.133 1.174 1.136 1.145 1.157 1.168 1.181 1.191
.107
.111
.107
.107
.108
.109
.111
.114
.103
.723
.026
.109
.762
.028
.104
.722
.026
.105
.732
.027
.106
.745
.027
.108
.755
.028
.110
.767
.028
.112
.780
.029
Corporate profits and inventory valuation adjustment
__
.174
Profits tax liability
.086
Profits after tax plus inventory valuation adjustment- _ .088
.165
.085
.177
.084
.175
.087
.170
.088
.168
.087
.165
.083
.157
.082
.080
.092
.088
.082
.081
.082
.075
1. Excludes gross product originating in the rest of the world.
2. This is equal to the deflator for gross product of nonfinancial corporations, with the decimal
point shifted two places to the left.
3. Personal saving as a percentage of disposable personal income.
* Corporate profits (and related components and totals) for 1969 total are preliminary and
subject to revision next month.
687.9 747.2
|
509.9
197.7
157.6
119.5
88.1
104.5
465.0
181.5
145.9
109.2
78.3
96.0
696 1 711 2 724 4 740 5 756 5 767 4
470.7
183.0
147.4
110.8
78.9
97.9
482.1
187.8
150.7
113.1
82.0
99.2
493.3
191.5
153.3
115.5
85 4
100.8
504.3
196.5
156 6
118 3
87 1
102 4
516.9
200.5
159 9
121 1
88 7
106 6
525.0
202.3
160 5
123 1
91 2
108 4
24.2
26.2
24.5
25.0
25 5
26 0
26 4
26 9
63.8
49.2
14.6
66.3
50.2
16 1
64.1
49.3
14 8
64.1
49.7
14 4
64 6
49.7
14 9
66 5
50 1
16 4
67 3
50 5
16 8
66 7
504
16 3
21.2
23.1
54.1
21.6
24.6
59.4
21.2
23.6
54.8
21.4
23.8
56.7
21.5
23 8
57.6
21 6
24 3
58 8
21.7
24 9
59 8
21 8
25 2
61 3
59.2
65.5
60.1
61.6
63.6
64 9
66 1
67 2
30.3
33.1
30.9
31.8
32.4
32 9
33 3
33 7
2.1
7.2
19.7
21
8.2
22.0
2.1
7.1
20.0
2.0
7.3
20.5
2.2
7.8
21.3
19
82
21.9
2 2
8 4
22 2
22
86
22 7
22.6
26.2
22.9
23.3
25.4
25.9
26.6
27.0
97.9 117.5 102.6 107.0 114.2 118.5 117.5 119 9
Less: Personal outlays _ _ _ .
_ 551.6 592.0 560.2 566.2 577.7 588.8 596.0 605.8
Personal consumption expenditures- 536.6 576.0 544.9 550.7 562.0 572.8 579.8 589.5
14.2 15.3 14.4 14.7 15.0 15.2 15.4 15.5
Interest paid by consumers _
Personal transfer payments to for.7
.7
.8
.8
eigners .
.8
.7
.8
.8
Equals: Personal saving.
38.4
Addenda:
Disposable personal income :
Total, billions of 1958 dollars.. _
Per capita, current dollars.. _
Per capita, 1958 dollars
Personal saving rate,8 percent
37.6
33.2
38.0
32.5
33.3
43.1
41.7
497.6 509.5 498.9 502.1 502.6 506.2 514.1 514 8
2,933 3,099 2,946 2,991 3 014 3 065 3 140 3,172
2,474 2,507 2,477 2,485 2,482 2 494 2,526 2,522
._
6.5
6.0
5.6
6.3
5.3
5.3
6.7
6.4
Table 11.—Personal Consumption Expenditures by Major Type (2.3)
Personal consumption expenditures _.
_ _ _ _ _
536.6 576.0 544.9 550.7 562.0 572.8 579.8 589.5
89 8
85 8
86 3
88 4
90 6
89 8
90 4
Automobiles and parts. _
_ 37.0 40.4
Furniture and household equipment- 34.2 36.0
Other
12 1 13 5
38.6
35.0
12 1
39.0
34.6
12.8
39.4
35.5
13 6
40.0
36.8
13 8
40.8
35.8
13 2
41.3
35.8
13 3
Nondurable goods
Dollars
III
Equals : Disposable personal income. . -590.0 629.7 593.4 604.3 610.2 622.0 639.0 647.5
Durable goods.
Billions of 1958 dollars
Capital consumption allowances
Indirect business taxes plus transfer
payments less subsidies
Compensation of employees
Net interest.. .
II
Table 10.—Personal Income and Its Disposition (2.1)
- 494.2 532.9 501.6 510.7 519.9 530.1 539.3 542.2
Net interest
I
Billions of dollars
Table 9.— Gross Corporate Product * (1.14)
Gross corporate product
IV
Seasonally adjusted at annual rates
Billions of dollars
Capital consumption allowances
Indirect business taxes plus transfer
payments less subsidies
III
1969
Food and beverages
Clothing and shoes. _ _
Gasoline and oil. _
Other
Services
Housing
Household operation
Transportation .
Other
83 3
230 6 243.6 233 3 234 3 238 6 242.1 245.1 248.7
115 0 119 8 116.1 116 4 118 4 119 1 119 9 121.7
46.3 49.9 47.4 47.3 48.1 50 0 50.8 50.8
19.1 21 3 19.5 19.5 20.4 21 0 21.8 22.0
50.1 52 7 50 3 51.1 51 8 52.0 52 7 54.2
222 8 242 6 225 8 230 1 235 0 240 1 244.9 250.3
77 4 83 7 77 9 79 8 81 3 82 8
31.2 33.5 31.6 31.9 32.7 33! 1
16 1 17 5 16 3 16.5 17.1 17.3
98 1 107 9 100 0 101 8 103 9 106 9
84 4 86 4
33.9 34.1
17.7 17.9
108 8 111 9
Table 12.—Foreign Transactions in the National Income and
Product Accounts (4.1)
Receipts from foreigners
50.6
55.3
53.4
50.6
47.6
57.1
57.8
58.6
Exports of goods and services
50 6
55 3
53 4
50 6
47.6
57.1
57.8
58.6
Payments to foreigners
Imports of goods and services
Transfers to foreigners
Personal
Government
Net foreign investment..
50.6
55.3
53.4
50.6
47.6
57.1
57.8
58.6
48.1
53 2
49.7
49.4
46.1
55 5
55.2
55.9
2.9
g
21
27
g
2 0
3.1
g
2 3
3.1
7
24
2.4
.7
1.7
2 8
.7
21
2.6
g
1.8
3.0
.8
2.2
—.3
— 6
.6 —1.9 —1.0 —1.2
.0
-.3
SURVEY OF CURRENT BUSINESS
March 1970
1968
1968
1969*
III
11
IV
I
II
III
1968
IV*
1969
III
IV
Table 13.—Federal Government Receipts and Expenditures (3.1, 3.2)
187.3
198.6
202.8 201.3 203.3
79.5
38.3
95.6
40.2
83.7
38.4
87.4
39.8
93.8
40.7
96.9
41.0
95.0
39.8
96.7
39.4
18.0
40.5
18.8
46.9
18.3
40.9
18.5
41.7
18.5
45.6
18.6
46.4
19.1
47.5
19.1
48.1
181.5 192.0 184.2 187.4
188.5 189.3 193.6
99.5 101.9 100.9 101.9
78.0 79.2 78.8 79.3
21.5 22.7 22.1 22.5
101.6 100.6 103.2 102.3
79.0 78.5 80.3 79.2
22.6 22.1 22.9 23.1
47.8 52.4 48.7 50.0
Transfer payments
45.7 50.4 46.5 47.6
To persons .
....
2.3
2.4
2.1 2.0
To foreigners (net)
Grants-iii-aid to State and local gov18.3 20.0 18.4 19.0
ernments
- -
196.7
50.8
49.1
1.7
52.1 52.7
50.0 50.9
2.1 1.8
53.9
51.7
2.2
19.0
19.8
22.0
19.3
11.6 13.1 11.7 12.2 12.5 12.9 13.1 13.7
Net interest paid .
...
Subsidies less current surplus of gov4.6
4.4
4.6
4.8
4.3 4.6
4.6
4.4
ernment enterprises
Surplus or deficit (— ), national
__ | 10.1 13.5
-5.2 9.5 -2.8
7.7
income and product accounts
6.7
Table 14.—State and Local Government Receipts and Expenditures
(3.3, 3.4)
106.2 120.3 108.0 111.4
Personal tax and nontax receipts
18.4
Corporate profits tax accruals
3.0
Indirect business tax and nontax
accruals.
59.9
Contributions for social insurance. . . 6.5
Federal grants-in-aid .
18.3
118.5 121.9
126.5
21.9
3.1
18.9
3.0
19.5
3.1
20.5
3.1
21.5
3.1
22.5
3.0
23.2
3.0
67.8
7.5
20.0
61.1
6.6
18.4
62.9
6.9
19.0
64.8
7.1
19.0
67. 1
7.4
19.3
68.9
7.7
19.8
70.3
8.0
22.0
State and local government expenditures
107.6 121.0
108.7 112.2
Purchases of poods and services
100.7 112.7 101.7 104.8
Transfer payments to persons
10.0 11.5 10.2 10.5
.4
.4
Net interest paid . - .
.3
.3
Less: Current surplus of government
enterprises
3.4 3.5 3.5
3.5
Surplus or deficit (—), national
income and product accounts
-1.5
114.5
-.6
-.7
-.8
Gross national product _ .
Personal consumption expenditures
Durable goods
Nondurable goods .Services
38.4
26.7
Gross investment..
33.2
26.5
-3.2 -5.6
38.0
27.8
-4.2
120 0 125.4 120 8 121 7 123 7 124 5 126 2 127 0
Nonresidential
117 1 121.8 117 6 118 4 120 1 120 8 122 7 123 7
Structures
129.3 139.1 130.6 131.4 135.3 137.8 141.0 142.1
Producers' durable equipment .- 111.9 114.6 112.1 113.0 113.5 113.9 114.9 116.1
Change in business inventories
Net exports of goods and services. .
Exports.
Imports -
Government purchases of goods and
services
135.0
3.5
-1.8
3.5
-2.1
3.6
3.5
-.3
1.6
130.2
32.5
27.9
131.3
33.3
142.8 139.4
43.1
24.9
41.7
23.9
Table 17.—Implicit Price Deflators for Gross National Product by
Major Type of Product (8.2)
Gross national product
Goods output
Durable goods _ _
Nondurable goods
47.7
48.6
49.6
50.5
27.5
.0
27.9
.0
28.2
.0
28.6
.0
29.0
.0
29.4
.0
8.3
11.4
7.4
8.3
10.1 13.5
-1.8 -2.1
7.7
-.3
6.7
1.6
-2.5
-6.0
-3.3
-3.4
134.2 136.2 143.3 141.5
-4.2
-6.5
-6.9
-6.2
"•Corporate profits (and related components and totals) are preliminary and subject to
revision next month.
122.3 128.1 122.9 124.2 125.7 127.3 129.0 130.5
113 0 117 1 113 4 114 2 115 1 116 6 117.7 118 9
108.5 111.5 108.7 109.7 110.3 111.1 111.9 112.7
116 4 121.4 116 8 117 7 118 8 120 9 122 3 123 8
Gross auto product- .
102.5 104.4 102.3 103.6 103.7 104.4 104.4 105 1
Table 18.—Implicit Price Deflators for Gross National Product by
Sector (8.4)
122.3 128.1 122.9 124.2 125.7 127.3 129.0 130.5
118.9 124.2 119.4 120.6 122.0 123 6 125.0 126 4
Business
Nonfarm
Farm
118 0 123 3 118 5 119 7 121 1 122 6 124 0 125 3
118 5 123.6 118 9 120 1 121 6 122 8 124 3 125 5
106 8 114 7 107 8 107 9 108 5 116 3 115 0 119 3
Households and institutions.
158.6 165.3
General government
159.4 170.6 161 3 163 6 165 6 167 5 173.7 175 4
-6.1 -6.2 -3.7 -6.2
Gross private domestic investment- 126.3 139.4 125.2 133.9 135.2 137.4 143.3 141.8
Net foreign investment.
-.3 -.6
.6 -1.9
-1.0 -1.2
.0 -.3
Statistical discrepancy.
145.3 147.1
Addendum:
28.8
.0
125.8 132.0
143.4 136.2 137.6 139.5 141.8
126 2 134.2 127 4 128 3 129 8 131 9 136 8 138 4
145.0 152.9 146 2 148 1 150 1 151 9 153 9 155 6
108.5 112.3 113.8 116.0
11.0 11.3 11.6 11.9
.4
.4
.4
.4
27.4
.0
125.9 138.8
110.9 115.1 111.3 111.3 113.5 113 4 115 2 118.0
107 6 110.8 107 5 108 2 109 2 109 2 110 8 113.7
116.3 120.5 122.2 124.9
46.7
9.5 -2.8
-.7
129 7 137.5 131 5 132 4 135 3 137 1 138 8 139.1
129.8 137.7 131.6 132.5 135.4 137 2 138.9 139.3
125 9 130.7 126 2 126 1 127 5 130 4 132 3 132 7
Residential structures
Nonfarm
Farm
133 7 141.3 134 6 136 4 138 2 139 8 142.6 144 3
46.2
8.8 -3.5
103.3 105.7 103.4 104.5 104.9 105.5 106.0 106 6
117.1 122.2 117.5 118.8 119.8 121.5 123.0 124.6
127 3 133.5 127 9 129 5 131 0 132 7 134.2 135 9
131 2 140 3 132 9 134 1 137 0 139 4 142.0 143 1
49.1
-5.2
-1.5
130.5
120.4 121.4 122.9 124.3 125.8
Services
45.9
Government surplus or deficit (—),
national income and product
accounts
-6.7
Federal
State and local..
25.9
123.6 118.9
Structures .
Table 15.—Sources and Uses of Gross Saving (5.1)
Personal saving
Undistributed corporate profits
Corporate inventory valuation adjustment
Corporate capital consumption
allowances
Noncorporate capital consumption
allowances
Wage accruals less disbursements. _~.
122.3 128.1 122.9 124.2 125.7 127.3 129.0
118.6
Fixed investment
Gross national product
135.1 135.9 132.6 136.3
IV
Gross private domestic investment
Private
Gross private saving.
III
Table 16.—Implicit Price Deflators for Gross National Product (8.1)
Federal
State and local. .
State and local government receipts
II
Index numbers, 1958=100
Billions of dollars
176.3 201.5 181.4
I
Seasonally adjusted
Seasonally adjusted at annual rates
Federal Government receipts.
Personal tax and nontax receipts
Corporate profits tax accruals
Indirect business tax and nontax
accruals.
Contributions for social insurance
Federal Government expenditures
Purchases of goods and services
National defense
Other
1969
1968
1969
HISTORICAL DATA
Historical national income and product data are available
from the following sources:
1965-68: July 1969 SURVEY OF CURRENT BUSINESS.
1964: July 1968 SURVEY OF CURRENT BUSINESS.
1929-63: The National Income and Product Accounts of the
United States, 1929-65, Statistical Tables (available from any
U.S. Department of Commerce Field Office or from the Superintendent of Documents, U.S. Government Printing Office,
Washington, D.C. 20402, price $1.00 per copy).
SURVEY OF CURRENT BUSINESS
12
March 1970
Manufacturers' Inventory and Sales Expectations, First Half 1970
Manufacturers expect continuing increases in inventories during the first
half of 1970, but at a more moderate
rate than in 1969. Manufacturers also
foresee a slower growth in sales. If
these expectations are realized, the
stock-sales ratio will rise through midyear, with the rise entirely attributable
to the durable goods group. The proportion of manufacturers' stocks considered "high" rose slightly in the fourth
quarter of last year.
percent on September 30, having moved
up from 18 percent on December 31,
1968. Manufacturers with "high" inventories estimated their holdings to
be $2% billion in excess of needs at
the close of last year, up very slightly
from September 30, 1969.
Sales changes to be moderate
Manufacturers' sales, which rose
three-fourths of 1 percent from the
third to the fourth quarter of last year,
are expected to show no further growth
this quarter but to rise 1% percent in
the second.
Durable goods producers' sales were
unchanged from the third to the fourth
quarter of last ye,;ar following a 4 percent rise from the second to the third.
These companies expect a one-half of 1
percent decline in the first quarter, to
be followed by a 1% percent rise. Primary metal producers foresee a drop in
shipments in both quarters while transportation equipment and electrical machinery companies, whose shipments
fell in the fourth quarter foresee a
further decline this quarter and some
recovery next. Nonelectrical machinery
MANUFACTURED expect smaller
inventory additions in the first half of
CHART 7
1970 than in either the first or second
half of 1969. They are also projecting
Manufacturers' Sales and Inventory Expectations
smaller sales gains than experienced
• Moderate expansion of both sales and inventories expected for first half of 1970
last year, with virtually no change
* Stock-sales ratio to rise for durable producers, unchanged for nondurables
expected in the first quarter and a modDURABLE GOODS MANUFACTURERS
NONDURABLE GOODS MANUFACTURERS
erate rise in the second. These expectaBillion $
(Ratio scale)
tions were reported in the survey
100
conducted by the Office of Business
90
Economics in February. Should they
80
be realized, the stock-sales ratio would
70
continue to rise through midyear.
60
In the fourth quarter of 1969, actual
sales were slightly larger than had
50
been expected by manufacturers at
the time of the previous survey con40
ducted last November, while inventory
additions were smaller. For the first
Inventories
30
quarter of 1970, manufacturers' ex- 30 pectations for the growth of both sales
and inventories have been lowered
from those reported in November. 20
i I , , . I , , , I i i i I i i , I , , i I , . , I , , , I , , , I 20
(All sales and inventory figures disRatio
cussed in this report have been ad- Ratio
2.0
2.5
justed for seasonal variation.)
STOCK-SALES RATIO
STOCK-SALES RATIO
Manufacturers reported a moderate
further deterioration in the condition 2.0
1.5
of their inventories in last year's final
quarter. Companies holding almost
one-fourth of producers' stocks judged 1.5 I ... I ... I . . . I . . . I . . . I ... I ... I ... I ... I
I . . . I . . . I . . i I . . . I . . . I . . . i . i . I . . . I i . . I 1.0
1962
63
64
65
66
67
68
69
70
1962 63
64
65
66
67
68
69
70
their December 31, 1969, inventories
Seasonally Adjusted
"high" relative to sales and unfilled
• Expectations
orders. The "high" proportion was 23 U.S. Department of Commerce, Office of Business Economics
70-3-7
SUEVEY OF CURRENT BUSINESS
March 19TO
producers expect a substantial first
quarter rise and maintenance of this
high volume in the second quarter.
Sales of nondurable goods producers
rose 2 percent per quarter in the second
half of last year. The rate of gain is
expected to fall to 1 percent per quarter
in the first half of 1970. Almost all
major nondurable goods industries ex-
pect shipments to increase in both the
first and second quarters.
13
Inventory Imbalance, December 31, 1968 to
December 31, 1969
Inven- InvenNet excess
tory
tory
excess
deficiency Amount Percent of
total
(Billions of dollars)
inventories
Inventory expectations
Manufacturers expect to add $2.9
billion to inventories in the first half of
1970—$1.1 billion in the first quarter
and $1% billion in the second. Accumulation by durable goods producers is
expected to continue to exceed that in
All manufacturers:
Table 1.—Manufacturers' Evaluation of the Condition of Their Inventories l
[Percentage distribution]
Durables
Total
High
About
right
Nondurables
Low
High
About
right
Low
High-
About
right
Low
1.73
1.87
1.96
2.43
2.48
0.25
.16
.24
.15
.16
1.48
1.71
1.72
2.28
2.32
1.7
1.9
1.9
2.4
2.4
Durable goods:
December 31, 1968. _
March 31, 1969
June 30, 1969
September 30, 1969December 31, 1969_ -
1.19
1.31
1.35
1.81
1.86
.20
.12
.18
.11
.13
.99
1.19
1.17
1.70
1.73
1.7
2.0
1.9
2.8
2.7
.54
.56
.61
.62
.62
.05
.04
.06
.04
.03
.49
.52
.55
.58
.59
1.6
1.6
1.7
1.8
1.8
Nondurable goods:
March 31, 1964
June 30, 1964
September 30, 1964
December 31, 1964
16
13
14
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
March 31, 1965
June 30, 1965
September 30, 1965
December 31, 1965
16
16
16
15
81
80
81
82
3
4
3
3
20
20
22
19
77
77
76
78
3
3
2
3
9
10
8
8
87
85
88
88
4
5
4
4
March 31, 1966
June 30, 1966
September 30, 1966
December 31, 1966_
15
18
22
28
81
78
75
70
4
4
3
2
18
21
27
33
79
75
70
65
3
4
3
2
10
13
14
18
85
83
83
79
5
4
3
3
March 31, 1967
.
June 30, 1967
September 30, 1967
December 31, 1967
31
31
27
25
68
67
69
72
1
2
4
3
37
36
34
31
62
63
63
67
1
1
3
2
20
20
15
15
78
76
81
81
2
4
4
4
March 31, 1968
June 30, 1968
September 30, 1968
December 31, 1968
25
25
24
18
72
72
73
80
3
3
3
2
31
31
28
19
66
67
70
79
3
2
2
2
15
16
16
16
82
80
79
82
3
4
5
2
March 31, 1969 _
June 30, 1969
September 30, 1969
December 31, 1969
20
21
23
24
78
77
76
75
2
2
1
1
21
22
26
27
77
76
73
71
2
2
1
2
17
18
17
18
82
80
82
81
1
2
1
1
. ._
December 31, 1968
March 31, 1969
June 30, 1969. .
September 30, 1969
December 31, 1969
i Condition of actual inventories relative to sales and unfilled orders position as viewed by reporting companies. Percent
distribution of inventory book values according to companies' classifications of their inventory condition.
NOTE.—Due to change in survey questionnaire, data starting December 31,1968 are not strictly comparable to prior data.
Source: U.S. Department of Commerce, Office of Business Economics.
December 31, 1968_ _
March 31, 1969
June 30, 1969September 30, 1969December 31, 1969. -
Source: U.S. Department of Commerce, Office of Business
Economics.
nondurables. The additions expected by
the durables group are smaller than last
year's, however. Their inventories are
expected to rise a bit less than $1#
billion in both the first and second
quarters, compared with increases of
$1% billion in each quarter last year.
Primary metal producers foresee a
considerable increase in their holdings
from the yearend 1969 to mid-1970.
Machinery and transportation equipment producers were the largest accumulators in the second half of last
year; they expect substantial but some-
Table 2.—Manufacturers' Inventories and Sales: Actual and Expected
(Billions of dollars)
19<57
I
II
1968
III
IV
I
II
1969
III
IV
I
II
1970
III
IV
Ii
Hi
Inventories, end of quarter:
Unadjusted :
All manufacturing
Durables
Nondurables
80.7
51 6
29.0
81.3
52 3
29.0
81.0
52 3
28.8
82.6
53 2
29.3
84.3
54 6
29.7
85.8
55 8
30.0
86.4
56 1
30.3
88.2
57 0
31.2
90.9
59 3
31 6
92 5
60 9
31 6
93 4
61 6
31 8
95 5
63 1
32 4
97 6
65 0
32 6
99.1
66-3
32. £
80.1
51.3
28 8
81.1
52.0
29.1
81.7
52.6
29 1
82.8
53.5
29 3
83.8
54.3
29 5
85.6
55.4
30 1
87.1
56.5
30 7
88.6
57.4
31 2
90.3
59.0
31 3
92.2
60 5
31 7
94.2
62 0
32 2
95.9
63 6
32 4
97.0
64 7
32 3
98. £
65- £
32. £
134.8
73.7
61.1
139.7
77.3
62.4
133.6
71.6
62.0
140.4
77.1
63.4
144.9
80.5
64.4
153.8
85.7
68.1
148.3
78.7
69.6
156 7
86.0
70.7
158 6
88.7
70.0
166 6
93.4
73.2
161 9
88 2
73.7
168 2
93 4
74.8
167 7
92 3
75 4
175. 7
98.$
77. £
135.0
73.6
61.4
135.6
73.8
61.8
137.4
75.3
62.0
140.7
77.0
63.7
145.2
80.5
64.8
149.5
82.0
67.5
152 7
83.0
69.7
156 6
85.5
71.1
159 2
88.8
70.4
161 8
89 4
72.5
167 1
93 2
73.9
168 3
93 0
75 2
168 4
92 5
75 9
170 6
94 C
76 €
Seasonally adjusted:
All manufacturing
Durables
.
Nondurables
Sales, total for quarter:
Unadjusted:
All manufacturing
Durables
Nondurables
..
Seasonally adjusted:
All manufacturing
Durables
Nondurables
...
1. Expectations reported by manufacturers in February 1970. Inventory expectations have
been corrected for systematic biases.
Sources: U.S. Department of Commerce. Expectations, Office of Business Economics;
actuals, Bureau of the Census.
Continued on Page 20
By GENEVIEVE B. WIMSATT
Business Investment and Sales Programs for 1970
Businessmen are scheduling a substantial increase in expenditures for
new plant and equipment in 1970—up
10H percent from 1969. Accompanying
these expanded programs are expectations of sizable sales increases from 1969
to 1970. All major industry groups
expect higher capital spending in 1970.
Overall spending is expected to rise
throughout the year, with some
acceleration in the second half.
BUSINESSMEN'S 1970 capital
budgets provide for continuing increases in expenditures for new plant
and equipment throughout the year.
Current expectations call for aggregate
outlays of $83.6 billion—$8 billion, or
Changes in Business Investment,
1969 and 1970
Percent Change
10
I
All Industries
20
I
1970 Expected
1 1969 Actual
Public Utilities
Communication
Transportation
Incl. Railroad
Durable Goods
Manufacturing
Nondurable Goods
Manufacturing
Mining
Commercial
and Other
U.S. Department of Commerce, Office of Business Economics
14
30
I
percent, more than in I960.1 The
expected increase is 1 percentage point
less than the actual increase in 1969.
Almost every industry has expectations
of higher expenditures in 1970, according to the results of the regular survey
of business spending intentions conducted in late January and February
by the Office of Business Economics
and the Securities and Exchange
Commission.
Expenditures in the final quarter of
1969 were at a seasonally adjusted
annual rate of $77.8 billion, matching
the record third quarter. Expenditures
are expected to rise to $80 billion in the
current quarter, to $81.8 billion in the
second quarter, and at an accelerated
rate to $86.1 billion in the second half
of 1970. Most industries expect increases in capital outlays throughout
the year; exceptions are steel, motor
vehicles, and rubber, where spending
schedules are somewhat lower in the
second half than in the first.
Business expectations of further sales
improvements this year accompany
these enlarged capital spending programs. In manufacturing, durable goods
companies are looking to a sales advance of 7 percent from 1969 to 1970,
nondurable goods companies to a 6
percent increase. Retailers and wholesalers are expecting sales to rise about
1. The reported figures for expectations have been adjusted
for systematic biases in survey responses. The adjustment
procedures are described in articles in the February issue of
the SURVEY. Before adjustment, expenditures were expected
to be $79.9 billion for all industries, $34.2 billion for manufacturing and $45.7 billion for nonmanufacturing. The adjustments were applied separately to each major industry; the
net effect was to raise the manufacturing total by $0.6 billion
and nonmanufacturing by $3.1 billion.
NOTE.—The estimates of expenditures for new plant and
equipment in this article reflect the recently completed
revision of the series covering the entire postwar period.
The complete historical series of expected and actual expenditures, together with descriptions of the methods used
in the revision, were published in articles in the January and
February issues of the SURVEY.
7 percent this year and public utilities,
8 percent. Except for retail trade, the
sales increases projected for 1970 are
smaller than the actual increases in
1969.
Downward revisions in investment
Actual expenditures in the fourth
quarter of 1969 were $1.2 billion lower,
at a seasonally adjusted annual rate,
than the expectation for that quarter
as reported in last November's survey.
The reduction centered in manufacturing, especially in the durables group;
outlays by nonmanufacturing firms
were in line with expectations. Expectations for the first two quarters of this
year have been reduced by similar
amounts, but the lowering of plans for
Table l.^Plant and Equipment Expenditures, Annual Percent Changes 1966—70
Actual
1966
All industries '
Manufacturing l
Durable goods 1
Primary metals
Electrical
machinery Machinery except
electricTransportation
equipment
Stone, clay, and
glass _
1967
Expected
1970
1968
1969
16.7
3.1
3.5
11.5
20.3
1.1
-.5
11.7
22.2
16.9
.1
9.0
10.6
9.9
.4 13.0
3.6 -3.8
10.3
9.4
13.1
44.0
5.0
4.5
14.4
24.4
2.4
-3.5
21.1
18.3
16.3
-8.0
-8.8
11.5
-7.5
26.5 -16.7 -10.7
24.0
13.7
2.2 -1.4
Nondurable goods * . . 18.5
Food including
5.9
beverage
- - 14.6 -.6
24.6 -17.6 -21.5
Textile.-. .
17.4
9.2 -15.4
Paper
Chemical
19.6 -6.1 -7.6
3.2
Petroleum
. 16.8
8.0
46.3
4.2
15.5
Rubber
10.3
9.4
17.5
18.0
19.9
9.4
7.3
11.2
11.5
6.3
4.5
20.1
6.1
-8.8
11.4
11.1
Nonmanufacturing
Mining
Railroad _.
Air transportation
Other transportation.
Public utilities
Communication
Commercial and
other
.
14.0
4.7
6.6
14.2
2.0 -1.4
11.0
19.1 -21.7 -22. 0 28.5
31.4
12.0 -2.1
42.7
7.4
6.2
-2.6 -10.0
16.6 13.9
17.7
21.2
7.6 21.6
5.3
13.6
4.1
26.7
15.8
-2.4
18.3
16.6
6.0
2.9
9.8
.8
3.7
1. Includes industries not shown separately.
Sources: U.S. Department of Commerce, Office of Business
Economics, and the Securities and Exchange Commission.
March 1970
the first half of 1970 occurred primarily
in nonmanuf acturing programs; in manufacturing, a moderate reduction in
expectations of nondurable goods companies was offset by increases for
durable goods companies.
The latest survey also indicates a
reduction in investment plans for the
full year 1970 from those reported in a
canvass taken in late November-early
December 1969 by the Office of Business
Economics and the Securities and Exchange Commission. As reported by
respondents to the surveys, programs
are about $1 billion lower than in the
late fall. It is not possible at the present
time to make an adequate correction
for systematic biases in responses to
the late fall survey. As indicated in the
January 1970 issue of the Survey, the
fall surveys have been conducted only
since 1966, providing only limited experience with which to access the nature
of these biases. In contrast, the corrections for systematic biases in the
regular survey conducted in late January and February are made on the
basis of many years of experience. Accordingly, the 9% percent increase for
1970 reported in the preliminary survey
should not be directly compared with
the 10% percent now obtained.
15
SUKVEY OF CURRENT BUSINESS
Realization of 1969 programs
In the successive quarterly surveys
during 1969 businessmen generally reported that they had spent less than
they had previously planned, and had
lowered their sights for the coming
quarters. The end result for the year
was an 11% percent rise in outlays over
1968, in contrast with the 14% percent
rise planned early last year. In 1968 as
well, actual outlays were smaller than
the programs scheduled early in the
year.
Most major industry groups spent
less in 1969 than initially planned. The
largest percentage cutbacks occurred in
aircraft, nonferrous metals, and textile
manufacturing. Contrary to the general
pattern, however, actual expenditures
last year by machinery manufacturers
and by communications and mining
firms exceeded their early expectations.
CHART 9
Manufacturers' Expenditures for New Plant and Equipment
Billion $
8
(ratio scale)
Billion $
8
PETROLEUM
PRIMARY METALS
6 -
i I i I i I i I i I i i I I I i i I i I I I i i I
TRANSPORTATION EQUIPMENT,
INCL MOTOR VEHICLES
l i i I ri i I i I I I i i i I i i i I i M I i i I
CHEMICALS
3 -
-2
2 -
Investment demand continues high
The latest OBE-SEC survey findings
add weight to the evidence of a continuing strong desire on the part of
businessmen to acquire new equipment
and other productive facilities. A major
motivation is to prepare for envisioned
strong markets of the 1970's by both
enlarging capacity and increasing its
efficiency. Nonetheless, many of the
important factors influencing near-term
investment decisions are becoming increasingly less favorable. The current
slowing in industrial activity, low rates
of capacity utilization, reductions in
sales and profits, and stringent conditions in the capital markets raise doubts
that present 1970 programs will be fully
carried out. However, the strength this
winter in contracts and orders for
plant and equipment, which ordinarily
lead plant and equipment expenditures
by about two to three quarters, lends
support to the projected spending rise
at least for the first half of 1970.
ELECTRICAL MACHINERY
PAPER
-2
2 -
l -
.6
4
FOOD, INCL. BEVERAGE
_ NONELECTRICAL MACHINERY
3 -
-3
2 -
-2
i i i l.i i l I i i i I i i < I i l i I l i l I i i i
1964
65
66
67
68
69
70
i i i I i i i I i i i I i i i I i t i I i i i 1 i i i
1964
65
66
67
68
69
70
Quarterly, Seasonally Adjusted at Annual Rates
Expected
U.S. Department of Commerce, Office of Business Economics
Data: OBE-SEC
70-3-9
SUEVEY OF CURRENT BUSINESS
March 1970
utable to nonferrous metals companies;
iron and steel producers, who reduced
spending last year, are planning no
Manufacturers are planning to spend change this year. Both aircraft and
$34.8 billion in 1970—a rise of almost motor vehicle producers are now pro10 percent from 1969. The expected graming cutbacks in expenditures for
increases are 10 percent for durable new plant and equipment this year.
goods companies and 9 percent for Aircraft companies also reduced spendnondurables.
ing last year, but the 6 percent reducAmong the durable goods industries, tion expected by motor vehicle proelectrical and nonelectrical machinery ducers follows a sharp 21 percent
producers continue with large programs increase in 1969.
in 1970. They project advances of 13
Among the nondurables, the chemical
percent and 18 percent,, respectively, industry is scheduling a 20 percent rise
compared with 14 percent and 21 per- in capital outlays this year. These firms
cent in 1969. Both industries had shown had reduced their expenditures in both
little expansion in captial spending in 1967 and 1968, and reported a 9%
the preceding 2 years, with nonelectrical percent increase last year. The food
machinery producers actually cutting industries are projecting an 11% percent
back outlays in 1968.
rise on top of a 17% percent increase in
Primary metal, stone-clay-glass, and 1969. Textile and paper companies are
"other" durable goods producers are expecting much smaller increases in
also programing susbtantial 1970 in- investment this year than last—6% percreases—ranging from 9 percent to 15 cent and 4% percent, respectively, compercent. In primary metals, the ex- pared with 18 percent and 20 percent
panded investment programs are attrib- in 1969. The petroleum industry expects
a 6 percent increase, a bit smaller than
last year's. Rubber is the only nondurable goods industry planning to
reduce outlays this year.
16
Manufacturing Investment
Programs
CHART 10
Manufacturers' Investment Projects: Starts, Expenditures, and Carryover
Billion $
50 —
40 —
Starts
\
Expenditures
30 —
20 —
10 —
1965
1966
1967
1968
1969
1969*
40
30 —
20 —
10
I
1965
1966
1967
1968
1969
1969*
* Quarterly
Seasonally Adjusted at Annual Rates
Note.—Carryover as of end of period.
U.S. Department of Commerce, Office of Business Economics
Data: OBE-SEC
70-3-10
Starts of projects decline
The value of investment projects
started by manufacturers declined in
the fourth quarter of 1969, after three
quarters of increase. Starts in the fourth
quarter amounted to $8M billion, seasonally adjusted, 9 percent below the
third quarter but well above a year
earlier. For 1969 as a whole, starts
amounted to $34.1 billion, or $4.4
billion more than in 1968.
The fourth quarter decline in starts
was entirely in the durable goods group
where the decline amounted to 18
percent. Very sharp decreases were
reported by primary metal, electrical
machinery, and transportation equipment producers but all durable groups
participated in the cutback. Total
projects started by durables producers
came to $16.8 billion in 1969 compared
with $14.6 billion in 1968. Starts by
nondurables
producers
expanded
throughout last year and totaled $17.2
billion, up from $15.1 billion in 1968.
Carryover of manufacturers' investment projects, i.e., expenditures still to
be incurred on projects already underway, totaled $23.7 billion at the end of
December, $250 million more than at
the end of September and $3.1 billion
more than a year earlier.2 Carryover has
been rising since the beginning of 1968.
The ratio of end-of-quarter carryover
at the end of the quarter to expenditures
in the quarter rose slightly throughout
1969 to reach 2.9 at yearend. Carryover
at yearend was equivalent to 68 percent
of projected expenditures for the year
1970, up from a figure of 62 percent at
the end of 1968.
Durable goods manufacturers reported a decline in carryover in the
fourth quarter following seven quarters
of rise. Their yearend carryover of $12.7
2. There were computational errors in the figures for
manufacturers' starts and carryover published in tables 4 and
5 (pages 34 and 35) of the article in the January SURVEY
reporting revisions in these data. The errors were in the
estimates for the stone-clay-glass industry from the fourth
quarter of 1968 forward. The errors also occurred in the totals
for durable goods and for all manufacturers. Corrected
figures are shown in table 4 of this article.
SURVEY OF CUEKENT BUSINESS
March 1970
Table 2.—Business Sales, Annual Percent
Changes 1969 and 1970
1970
1969
Expected
Manufacturing industries L - Durable goods *
Primary metals
Electrical machinery
Machinery except
electrical
Transportation equipment
Stone clay and glass
7.9
8.5
6.4
7.8
9.2
9.9
13.2
6.7
4.6
8.3
9.5
11.2
9.8
2.3
6.0
8.7
9.3
3.7
5.2
7.0
10.3
16.0
6.0
4.1
4.4
7.6
8.0
6.2
7.6
8.0
6.3
9.0
5.2
7.6
3.6
6.8
4.7
8.2
7.3
8.0
7.7
10.3
Nondurable goods l _. .
Food including beverage Textile
Paper
Chemical
Petroleum _
Rubber
Trade
Wholesale
Retail
Actual
8.2
7.8
6.4
14.4
6.9
7.5
8.5
.
Public utilities
Expected
7.1
7.3
-0.9
11.3
4.8
i Includes industries not whown separately.
Sources: U.S. Department of Commerce, Office of Business
Economics, and the Securities and Exchange Commission.
Table 3.—Petroleum Industry Expenditures
for New Plant and Equipment by Function, Actual and Expected 1960-70
[Billions of dollars]
Production
MarTrans- Refining
keting
portation
Other
Total
Actual
1960
1961
1.64
1.71
.15
.14
.55
.54
.46
.51
.09
.10
2.89
3.00
1962....
1963....
1.84
1.95
.12
.11
.48
.37
.55
.59
.13
.13
3.12
3.15
1964
1965
2.10
2.03
.18
.17
.49
.87
.68
.73
.15
.22
3.59
4.03
1966
1967
2.24
2.23
.19
.28
1.09
1.34
.79
.88
.40
.35
4.70
5.08
1968
1969
2.38
2.63
.28
.28
1.20
1.31
.81
.94
.58
.46
5.25
5.63
Expected 1
1960
1961....
1.79
1.63
.15
.13
.62
.63
.47
.50
.08
.10
3.12
2.98
1962
1963
1.73
1.87
.12
.11
.46
.38
.52
.53
.12
.13
2.95
3.02
1964
1965
2.02
2.05
.23
.15
.60
.84
.57
.75
.13
.24
3.56
4.02
1966
1967
2.19
2.27
.18
.24
1.05
.94
.86
92
.32
.40
4.60
4.77
1968....
1969
2.47
2.51
.33
.31
1.22
1.24
.92
.91
.43
.83
5.37
5.80
1970
2.64
.46
1.27
.95
.65
5.97
1. The reported figures for expectations are adjusted for
systematic biases; adjustments are applied separately to
expenditures for each function. Before adjustment, total
expenditures for 1970 were expected to be $6.21 billion; the net
effect of the adjustment for this year was to lower the total by
$.24 billion.
NOTE.—Details may not add to totals because of rounding.
Sources: U.S. Department of Commerce, Office of Business
Economics, and the Securities and Exchange Commission.
377-332 0 - 7 0 - 3
billion was 72 percent of the expenditures expected to be made in 1970. The
continuing rise in carryover of nondurable goods companies brought the
yearend level to $11.1 billion, or 64
percent of their 1970 programs.
17
Nonmanufaeturing
Investment
Public utilities are programing expenditures of $13.7 billion for 1970, an
increase of $2.1 billion or 18 percent
over 1969. This substantial advance
would follow an increase of 14 percent
Capacity evaluation, yearend 1969
in 1969—a gain which matched the
Manufacturers' yearend evaluation projection made in February last year.
All of the projected increase for 1970
of the adequacy of their plant and
is
attributable to electric power comequipment facilities, relative to current
panies,
whose expenditures are exand prospective sales, indicated a small
pected
to
reach $11.2 billion; gas and
increase from 3 months earlier in the
other
utilities
are planning a small
need for more facilities. Companies
cutback
in
capital
outlays to $2.6
owning 46 percent of fixed assets in
billion.
Both
groups
are projecting a
manufacturing reported that they
rising
trend
in
expenditures
through
needed more facilities, as against 44
the
year.
Data
from
Electrical
World
percent in September and 47 percent
indicate
that,
while
the
electric
utilities
in December 1968. Nondurable goods
producers accounted for all of the in- expect to spend more this year for
crease both in the fourth quarter and generating and for local distribution
over the year.
The proportion of nondurable goods
CHART 11
producers reporting inadequate facilities rose from 48 percent at the end of
Manufacturers' Evaluation of
September to 53 percent at the end of
Existing Capacity*
December; the proportion at the end
of 1968 was 49 percent. All nondurables Percent of Capital Assets Held by Respondents Reporting —
industries except paper reported an 60
MORE CAPACITY NEEDED
increase in the fourth quarter, with the
largest increase in the petroleum industry. Over the same period, durable 50
goods companies reported a 1 percentage point decline in the proportion
of assets considered inadequate. Within 40
the durables group, metal fabricators
(producers of machinery, transportaI I I I ! I I I I I I I I I I
tion equipment, and fabricated metal 30
products) reported a decline in facility
CAPACITY ADEQUATE
needs while primary metal companies 60
showed a small rise.
Facilities viewed as "about adequate"
for 1970 production requirements rep- 50
resented 49 percent of manufacturers'
fixed assets as of December 31, down a
40* ' "
little from September, but slightly
20
above a year earlier.
CAPACITY EXCEEDS NEEDS
Companies reporting plant and equipment in excess of current and near-term 10
needs accounted for only 5 percent of
fixed assets at the end of December—a
proportion that has been maintained
0
i I t I i I i I I I I I I I I I I I t I I I I
1964
65
66
67
68
69
since early 1968. The proportion of
End of Quarter, Not Adjusted for Seasonal Variation
excess facilities was higher in durables * Relative to prospective operations during the ensuing 12-month period.
than in nondurables.
U.S. Department of Commerce, Office of Business Economics
70-3-11
SURVEY OF CURRENT BUSINESS
18
March 1970
Table 4.-— Starts and Carryover of Plant and Equipment Projects, Manufacturing and Public Utilities, 1967—69
[Billions of dollars]
Carryover 2
Starts i
Annual
Manufacturing 3
1967
1968
1969
26.50
I
II
1968
1969
1968
III
IV
I
II
III
Mar.
IV
June
1969
Sept.
Dec.
Mar.
June
Sept.
Dec.
29.64
34.07
6.92
7.12
7.40
*8.19
*8.49
*8.72
*8.06
8.80
19.25
19.41
19.75
*19.87
*21.77
*22.66
*22.57
22.26
Durable goods 3
Primary metals..
Electrical machinery
M achinery except electri cal4_
Transportation equipment
Stone, clay, and glass
12.42 * 14. 59
3.21
2.81
1.54
1.81
2.68
2.70
2.24
2.90
.66 * 1.06
16.85
2.96
2.80
3.60
2.66
1.08
3.38
.81
.42
.62
.60
.22
3.52
.63
.53
.59
.80
.26
3.62
.99
.33
.61
.79
.26
*4. 08
.78
.53
.88
.71
*.33
*4. 19
.76
.61
.89
.73
*.35
*4.30
.69
.68
.95
.87
*.23
*4. 03
.75
.75
.77
.65
*.31
4.32
.75
.77
.99
.41
.18
10.33
4.23
1.27
1.08
2.31
.45
10.49
4.08
1.36
1.03
2.50
.48
10.63
4.19
1.26
.96
2.66
.54
*10. 55
3.97
1.25
1.03
2.70
*.62
*11. 38
4.02
1.46
1.16
2.84
*.73
*11. 70
3.90
1.64
1.28
3.02
*.69
*11. 70
3.85
1.90
1.18
2.90
*.73
11.43
3.70
2.02
1.16
2.60
.62
Nondurable goods 3
Food including beverage ..
Textile
Paper
Chemical
Petroleum
14.08
2.00
.53
1.52
2.48
5.59
15.05
2.32
.59
1.42
2.98
5.57
17.22
2.97
.60
1.59
3.62
6.19
3.55
.51
.10
.51
.70
1.20
3.60
.61
.15
.43
.80
1.17
3.78
.54
.19
.18
.54
1.81
4.11
.66
.16
.30
.94
1.40
4.30
.59
.14
.46
.88
1.66
4.41
.92
.19
.35
1.06
1.35
4.03
.69
.14
.46
1.03
1.18
4.48
.77
.14
.32
.65
2.00
8.92
1.10
.22
1.22
2.27
2.94
8.92
1.14
.23
1.28
2.32
2.84
9.12
1.07
.29
1.14
2.19
3.32
9.32
1.15
.30
1.07
2.37
3.22
10.39
1.20
.30
1.23
2.58
3.76
10.96
1.48
.33
1.18
2.88
3.79
10.87
1.49
.30
*1.22
3.15
3.47
10.82
1.53
.27
1.08
2.89
3.79
12.58
12.86
15.16
4.11
3.00
1.97
3.78
5.30
2.54
3.56
3.77
15.11
15.49
14.86
15.74
18.68
18.23
18.76
19.30
Public utilities
Adjusted for seasonal variation
Manufacturing3
6.80
7.16
8.29
*7.93
*8.42
*8.89
*9.11
8.33
18.58
18.78
19.86
*20.61
*21.54
*22.64
*23.48
23.72
Durable goods 3_
Primary metals
Electrical machinery
Machinery except electrical4
Transportation equipment
Stone, clay, and glass
3.23
.81
.41
.41
.66
.24
3.68
.65
.53
.92
.66
.22
4.30
1.31
.39
.77
.82
.31
*3.81
.65
.47
.83
.81
*.29
*4.04
.73
.59
.60
.80
*.40
*4.63
.69
.68
1.47
.72
*.20
*4.79
1.00
.90
.96
.67
*.37
3.92
.60
.67
.92
.47
.16
10.05
4.22
1.22
.86
2.31
.47
10.35
4.07
1.30
1.13
2.37
.46
11.03
4.50
1.25
1.18
2.56
.56
*11. 25
4.30
1.27
1.27
2.76
*.63
*11. 42
4.19
1.39
*1.06
2.88
*.78
*12. 05
4.05
1.56
1.70
2.92
*.70
*12. 71
4.24
1.95
1.74
2.83
*.79
12.67
4.08
2.09
1.79
2.65
.70
Nondurable goods '
Food including beverage
Textile
Paper _.
Chemical
Petroleum
3.57
.51
.11
.47
.70
1.26
3.48
.60
.15
.38
.64
1.16
3.99
.55
.19
.19
.63
1.90
4.12
.73
.14
.36
1.03
1.28
4.39
.60
.15
.42
.89
1.76
4.26
.90
.19
.31
.84
1.34
4.32
.69
.14
.49
1.23
1.24
4.41
.83
.12
.39
.70
1.83
8.53
1.04
.21
1.18
2.24
2.89
8.43
1.11
.23
1.21
2.15
2.76
8.82
1.06
.29
1.09
2.09
3.33
9.36
1.23
.29
1.11
2.44
3.28
10.12
1.22
.30
1.17
2.58
3.78
10.59
1.52
.34
1.09
2.69
3.77
10.77
1.54
.30
1.18
3.12
3.51
11.05
1.65
.27
1.14
3.02
3.85
2.86
3.50
2.62
3.95
3.70
2.96
4.71
3.94
14.11
15.05
15.22
16.51
17.33
17.37
19.21
20.20
Public utilities
* Corrected for computational and typographical errors.
1. Starts are estimated by adding changes in carryover to expenditures during the given
period.
2. Carryover refers to expenditures yet to be incurred on plant and equipment projects
already underway at end of period.
3. Includes data not shown separately.
4. Includes guided missiles and space vehicles.
NOTE.—Details may not add to totals because of rounding.
Sources: U.S. Department of Commerce, Office of Business Economics, and the Securities
and Exchange Commission.
Table 5.—Manufacturers' Evaluation of Their Capacity
(Percent distribution of gross capital assets) l
1966
19 37
19158
19 69
Dec. Mar. June Sept. Dec. Mar. June Sept. Dec. Mar. June Sept. Dec.
30
30
30
30
31
31
30
30
31
31
31
31
31
More plant and equipment needed :
47
45
45
46
43
40
41
45
47
48
43
44
46
Durable goods 2
Primary metals
Metal fabricators 3
49
54
51
45
48
48
44
42
49
45
43
49
38
31
43
39
35
47
41
41
44
44
44
46
45
41
49
46
41
49
40
30
49
40
31
47
39
33
43
Nondurable goods 2
Food including beverage.
Chemical _ _
Petroleum
44
45
88
22
45
42
80
27
46
40
76
37
47
45
75
37
49
42
78
39
40
38
67
27
41
41
65
29
45
49
71
32
49
54
58
40
49
46
72
39
46
43
56
41
48
44
71
42
53
47
73
47
49
52
55
53
50
48
47
52
51
49
48
41
50
48
45
48
47
44
48
53
56
48
53
54
50
53
52
52
All manufacturing
About adequate :
All manufacturing
48
50
50
Durable goods 2
Primary metals 3. .
Metal fabricators
44
32
46
48
38
49
-49
*43
48
48
42
48
55
53
54
53
50
49
50
44
51
Nondurable goods 2 _
Food including beverage.
Chemical
Petroleum. _
52
47
11
76
51
50
19
71
51
54
22
62
51
50
23
62
49
53
20
60
58
57
31
72
56
53
33
70
52
45
27
67
48
41
40
59
48
49
25
60
51
53
43
58
49
53
27
57
44
49
26
53
5
5
5
5
5
5
6
5
5
5
5
5
5
7
14
3
7
14
3
7
15
3
7
15
3
7
16
3
8
15
4
9
15
5
8
15
4
7
14
3
7
15
3
7
14
3
7
15
3
8
15
5
4
8
1
2
4
8
1
2
3
6
2
1
2
5
2
1
2
5
2
1
2
5
2
1
3
6
2
1
3
6
2
1
3
5
2
1
3
5
3
1
3
4
1
1
3
3
2
1
3
4
1
0
facilities, the major expansion is in
transmission investment, including long
distance lines, interconnections between systems, and extra-high-voltage
line construction.
Utility companies as a group reported an increase in the amount of
funds yet to be expended on investment
projects already underway. On a seasonally adjusted basis, carryover at the
end of December amounted to $20.2
billion, up $1 billion from the end of
September and $3.7 billion from a
year earlier. Projects started during
the fourth quarter of 1969 totaled
$3.9 billion—off 16 percent from the
unusually high third quarter rate and
equal to the corresponding period a
year earlier.
Existing plant and equipment exceeds
needs:
All manufacturing
Durable goods 2
Primary metals 3
Metal fabricators
Nondurable goods 2
Food including beverage .
Chemical
Petroleum __ .
1
According to respondent companies' characterizations of their plant and equipment facilities, taking into account their
current
and prospective sales for the next 12 months.
2
Includes industries not shown separately.
3
Includes
machinery, transportation equipment, and fabricated metals industries.
Sources: U.S. Department of Commerce, Office of Business Economics and the Securities and Exchange Commission.
http://fraser.stlouisfed.org/
Federal Reserve Bank of St. Louis
Transportation outlays to rise
Last year was a strong one for investment by railroads, but expenditures
by other transportation firms barely
exceeded 1968 levels. This year, both
SUEVEY OF CURRENT BUSINESS
March 1970
railroads and airlines are planning In spite of the substantial expenditures
substantial increases in capital outlays, by railroads in recent years, the number
27 and 16 percent to $2.4 billion and of freight cars owned by class I rail$2.9 billion, respectively. Acquisition roads has declined gradually although
of the jumbo jets is initiating a new the aggregate carrying capacity has
round of capital spending by the been rising.
Expenditures for new plant and
airlines. For the railroads, the increase
is centered in expenditure for equip- equipment by other types of transporment. It is of interest that the number tation companies are now programed
of freight cars on order at the end of at $1.6 billion for 1970, or slightly less
1969 was almost 50 percent larger than than last year's spending. The cutback
a year earlier—although new orders centers in trucking companies.
Communications firms are scheduling
were being placed at a slightly slower
pace in late 1969 than a year earlier. strong investment for 1970. Outlays
19
are expected to reach $9.7 billion, up
16% percent from 1969. At this time
last year, a 15 percent rise for 1969 was
projected; actual expenditures turned
out to be 22 percent above 1968.
Within 1970, expenditures are expected
to rise sharply this quarter and more
moderately thereafter.
Commercial and other firms—i.e.,
trade, services, construction, finance,
and insurance—posted a moderate rise
in expenditures for new plant and
equipment in 1969. Companies in the
group expect 1970 expenditures to
Table 6.—Expenditures for New Plant and Equipment by U.S. Business,1 1968—70
[Billions of dollars]
Annual
Quarterly, unadjusted
1968
1968 1969 19702
I
II
1970
1969
III
IV
I
II
III
IV
3.36 3.23 3.53
2.00 1.83 1.82
1.09 1.10 1.42
.70 .79
.40 .46
.24 .26
.88
.52
.29
.99 .71 .81 .81 .90
.62 .41 .47 .45 .50
.31 .23 .27 .28 .32
Electrical machinery
Machinery, except electrical
1.78 2.03 2.30
2.84 3.44 4.07
.37 .44
.66 .65
.43
.67
.54
.85
.39
.72
.54 .61 .65
.32 .34 .35
.17 .21 .23
.68
.35
.25
.59
.34
.18
.18 .23
.60 .66
.25
.85
Transportation equipment 3 . . .
Motor vehicles
Aircraft <
. . . _2.48 2.76 2.56
1.36 1.65 1.55
.86 .83 .72
.
Other nondurables e
Mining
III
IV
12
112
2d2
half
.86 1.07 1.22
2.82 3.44 3.94
.20
.70
.69
.40
.22
.77 .71
.46 .44
.23 .19
.58
.37
.14
63 1.34 2.54 2.40 2.54 2.44 2.76 2.73 3.00 2.60 2.74 2.48 2.52
.39 .80 1.49 1.30 1.36 1.33 1.57 1.55 1.78 1.67 1.71 1.51 1.51
.18 .40 .82 .85 .90 .86 .88 .92 .92 .64 .67 .72 .73
.23 .28
.71 .86
.27 .30
.84 1.02
.25
.82
.32 .64 .81 .91 .85 .86 1.03 1.11 1.14 1.01 1.12 1.30 1.22
.93 2.19 2.73 2.64 2.92 2.96 3.24 3.45 3.50 3.52 3.73 3.73 4.13
.
2.21 2.59 2.89
.53 .63 .67
1.32 1.58 1.66
.45 .57
.13 .13
.27 .36
.61 .57
.13 .14
.32 .37
.64
.13
.31
.64
.16
.40
.68 .73
.17 .16
.41 .46
.58
.14
.34
.65 1.66 2.04 2.14 2.40 2.23 2.45 2.38 2.68 2.86 2.62 2.42 3.25
.16 .37 .56 .52 .53 .53 .59 .63 .69 .61 .62 .61 .72
.39 .92 1.24 1.40 1.26 1.37 1.42 1.58 1.62 1.70 1.57 1.55 1.75
2.83 3.10 3.72 .65 .76 .66 .77 .67 .76 .76 .91 .78 .93 2.00 2.91 2.93 2.78 2.72 3.00 2.95 3.19 3.22 3.51 3.61 3.86
5.25 5.63 5.97 1.15 1.26 1.33 1.50 1.12 1.32 1.49 1.68 1.23 1.46 3.29 5.17 5.16 5.32 5.32 5.04 5.41 5.98 5.98 5.50 5.96 6.18
.98 1.09 .99 .18 .22 .26 .31 .24 28 .28 .28 .24 .24 .52 .82 .88 1.06 1.11 1.07 1.12 1.13 1.04 1.07 .94 .98
1.13 1.10 1.30 .25 .32 .27 .28 .21 .27 .32 .30 .26 .31 .73 1.16 1.30 1.05 1.03 .94 1.11 1.24 1.09 1.16 1.26 1.37
39.40 43.88 48.77 8.95 9.86 9.66 10.93 9.45 10.99 11.10 12.34 10.51 12.32 25.94 40.07 38.45 38.91 40.35 42.53 42.78 44.80 45.46 47.02 48.04 49.93
1.63 1.86 1.94 .42 .43 .39 .40 .42 .48 .47 .49 .41 .47 1.06 1.80 1.66 1.57 1.52 1.83 1.88 1.89 1.85 1.77 1.82 2.07
.39 .37
.31 .38
.38
.44
.49 .55
.45
.64
.66
.68
.66
.53 .64
.69
1.59 1.68 1.64
.30 .42
.41 .47
.38
.46
.40 .44
.37
.54 1.37 1.68 1.49 1.29 1.34 1.68 1.76 2.06 1.94 1.94 2.19 2.63
.80 1.41 2.88 1.98 2.69 2.87 2.89 2.22 2.23 2.80 2.95 2,70 3.02
.40 .88 1.43 1.49 1.65 1.75 1.87 1.66 1.65 1.63 1.79 1.42 1.70
10.20 11.61 13.73 2.07 2.62 2.61 2.90 2.36 2.99 3.03 3.23 2.67 3.52 7.55 10.08 10.24
9.82 10.63 11.52 11.68 11.48 11.80 12.80 13.74 14.08
7.66 8.94 11.15 1.69 1.94 1.87 2.16 1.88 2.22 2.23 2.61 2.28 2.82 6.05 7.76 7.64 7.50 7.74 8.62 8.71 8.98 9.36 10.46 11.07 11.47
2.54 2.67 2.58 .38 .68 .74 .74 .48 77 .80 .62 .39 .70 1.50 2.32 2.60 2.32 2.89 2.90 2.97 2.50 2.44 2.34 2.68 2.61
6.83 8.30 9.68 1.59 1.62 1.61 2.00 1.81 2.00 2.11 2.39
6.83 6.42 6.67 7.34 7.74 7.92 8.71 8.76
25.77 26.16 26.43
5.93 6.60 13.66
15.14 16.05 16.50 3.50 3.81 3.69 4.13 3.41 3.97 4.07 4.60
15.37 15.17 15.22 14.91 15.00 15.67 16.78 16.67
|
1. Excludes agricultural business; real estate operators; medical, legal, education, and cultural service; and nonprofit organizations.
2. Estimates are based on expected capital expenditures reported by business in late January and February 1970. The estimates for the first quarter, second quarter and second half
of 1970 have been corrected for systematic biases, as described in the technical notes of the
February 1970 SURVEY.
3. Includes data not shown separately.
4. Includes guided missiles and space vehicles.
5. Includes fabricated metal, lumber, furniture, instrument, ordnance and miscellaneous
except guided missiles and space vehicles.
II
.56 1.30 1.76 1.78 1.79 1.78 1.86 2.04 2.02 2.16 2.07 a 28 2.40
.97 2.21 2.96 2.56 2.87 2.96 3.22 3.34 3.66 3.50 3.95 3.84 4.23
.68 .58
Commercial and other 7
I
.49 .65 .44
.86 1.01 .89
1.45 1.86 2.36
Communication
IV
.50
.84
2.56 2.51 2.91
Electric
Gas and other
III
.92 1.90 3.31 3.21 3.50 3.39 3.37 3.31 3.20 3.09 3.30 3.77 3.52
.50 .96 1.96 1.87 2.09 2.07 1.98 1.91 1.80 1.70 1.75 2.06 1.74
.35 .80 1.06 1.06 1.14 1.09 1.04 1.12 1.11 1.12 1.22 1.42 1.50
Air transportation...
Other transportation .
II
.70
.36
.27
Railroad
Public utilities
I
14.25 15.72 17.19 3.09 3.63 3.59 3.94 3.22 3.84 4.12 4.53 3.56 4.14 9.49 13.91 14.33 14.40 14.31 14.52 15.18 16.52 16.50 16.05 16.34 18.11
Nondurable goods-
No nmanufacturing industries
2d2
half
14.12 15.96 17.61 3.06 3.36 3.54 4.16 3.36 3.98 4 03 4.59 3.68 4.33 9.59 14.11 13.51 14.47 14.39 15.47 15.98 16.53 15.88 16.92 17.39 18.02
Primary metals 3
Blast furnace, steel works
Nonferrous .
Chemical .
Petroleum
Rubber
112
1970
1969
28.37 31.68 34.80 6.15 6.99 7.13 8.10 6.58 7.82 8.16 9.12 7.25 8.47 19.08 28.02 27.84 28.86 28.70 29.99 31.16 33.05 32.39 32.97 33.74 36.12
Durable goods
Food including beverage
Textile
Paper
12
1968
67.76 75.56 83.58 15.10 16.85 16.79 19.03 16.04 18.81 19.25 21.46 17.76 20.79 45.02 68.09 66.29 67.77 69.05 72.52 73.94 77.84 77.84 80.00 81.78 86.06
All industries
Manufacturing industries
Stone, clay and5glass
Other durables
Quarterly, seasonally adjusted annual rates
6. Includes apparel, tobacco, leather and printing-publishing.
7. Includes trade, service, construction, finance and insurance.
NOTE.—Details may not add to total because of rounding. Data for earlier years 1947 through
1969 have been revised and were published in the January and February 1970 issues of the
SURVEY OF CURRENT BUSINESS.
Sources: U.S. Department of Commerce, Office of Business Economics, and the Securities
and Exchange Commission.
SUEVEY OF CUEEENT BUSINESS
20
reach $16.5 billion, a 3 percent increase
over 1969. Within the group both
wholesalers and service firms plan cutbacks in spending from 1969.
Sales Expectations
Manufacturing, trade, and utilities
companies are expecting their sales to
continue to rise in 1970. In manufacturing, the expected increase of 6%
percent compares with an 8% percent
March 1970
advance recorded for 1969. At the time show a stronger expansion in 1970 than
of the comparable survey last year, in 1969.
Eetailers are more optimistic about
manufacturers expected an 8 percent
1970
sales—looking to an 8 percent rise
sales increase for 1969. Durable and
this
year
against a 4 percent increase in
nondurable goods manufacturing com1969. Wholesalers expect a 5 percent
panies are looking forward to sales
sales advance this year, which would be
advances of 7 and 6 percent respecsmaller than last year's. Utilities are
tively—in both cases smaller gains than thinking in terms of an almost 8 percent
experienced in 1969. The same general revenue gain for 1970; actual revenues
pattern holds for the component indus- in 1969 rose by 8 percent as compared
tries, with the exception of textiles and with a rise of 7 percent expected a
chemicals, where sales are expected to year ago.
Manufacturers9 Inventory and Sales Expectations
Continued from Page IS
what smaller additions in the first half group. Durable goods producers holding
27 percent of that group's stocks judged
of 1970.
Nondurable goods producers expect their yearend 1969 inventories to be
little change in inventories this quarter, "high." Although that figure was up 8
and an addition of $600 million in the percentage points from a year earlier,
following 3 months. The expected the ratio rose only one point during the
second quarter accumulation exceeds fourth quarter of 1969 following a 4
those of 1969, which ranged from $200 point rise in the third. Producers of
million to $400 million per quarter. primary metal reported 14 percent of
Expectations of second quarter addi- their December 31 inventories "high";
tions are widespread among the non- fabricated metals, 44 percent; madurables industries.
chinery, 31 percent; transportation
If expectations are realized, durable equipment, 11 percent. In 1969 the
goods producers' stocks at mid-year "high" ratio increased for all these
would be equal to 2.10 months of sales groups except transportation equipat the average second quarter rate, up ment—where an increase in the percent
from 2.03 a year earlier and 2.05 at the "high" in the automotive industry
close of 1969. The stock-sales ratio for offset a decline in aircraft.
Nondurable goods companies with 18
nondurable goods producers, which fell
percent
of that group's stocks considin 1968 and 1969, would be maintained
ered
their
December 31 holdings "high."
through mid-1970 at the yearend 1969
.This
proportion
was one percentage
figure of 1.29.
point higher than in September and 2
Inventory condition, December 31,
points higher than at yearend 1968.
1969
Companies holding about 70 percent
The percentage of producers' inven- of durable goods stocks and 80 percent
ories classified as "high" has been of nondurable goods stocks classified
rising since the end of 1968 with the their yearend 1969 inventories as
increase primarily in the durables "about right." The "low" rate con
tinued at 1 to 2 percent throughout
1969.
Inventory imbalance, December 31>
1969
Manufacturers who classified their
inventories "high" or "low" were asked
to specify the amount by which their
stocks were out of balance.
The net excess on December 31, 1969
(obtained by netting deficiencies against
excesses) was $2.3 billion, less than
2% percent of total inventories. This
net imbalance is moderate but has risen
from $1.5 billion, or 1% percent of total
holdings, a year earlier.
Most of the surplus inventories were
held by durable goods producers. They
reported net excess holdings of $1.7
billion at yearend, up from $1.0 billion
on December 31, 1968. The excess
holdings of nondurables goods producers increased $100 million during
1969 to $600 million at yearend.
The average excess for companies
that judged their stocks "high" was
about 11 percent on December 31; the
average deficiency for the smaller number of companies judging their stocks
"low," 12 percent.
By R. DAVID BELLI
Plant and Equipment Expenditures by Foreign Affiliates of U.S.
Corporations—Revised Estimates for 1969 and 1970
Foreign affiliates of U.S. corporations
expect to increase their plant and equipment expenditures 20 percent in 1970,
following a rise in 1969 provisionally
estimated at 12 percent. Expectations
for 1970 show particular strength in
spending by manufacturing affiliates in
Western Europe and Canada.
E:E X P E N D I T U R E S for property,
plant and equipment by foreign affiliates of U.S. corporations are provisionally estimated to have risen 12 percent
in 1969 to a level of $10.6 billion. A
further increase of 20 percent is expected
for 1970, which would represent the
most rapid growth in such expenditures
since 1965. If the expectations are
realized, spending this year will show
the largest dollar increase—$2.1 billion—since the initiation of the survey
in 1957, and reach a total of $12.7
billion.
These findings are based on the
semiannual survey taken by the Office
of Business Economics in December
1969; the survey covers a sample of
about 450 larger U.S. investors with
approximately 4,500 foreign affiliates.
The large increase projected for 1970
primarily reflects renewed emphasis on
fixed asset investment by manufacturing affiliates, especially in Western
Europe and Canada. This is a notable
change from 1968 when total expenditures grew by only $0.1 billion and
manufacturing affiliates in the more
developed countries substantially reduced outlays. Although there were
some shifts among the various industries and areas, the latest findings
essentially confirmed estimates for 1969
and 1970 made 6 months earlier and
reported in the September 1969 issue
of the SURVEY.
Industry pattern
industry divisions in spending growth
Plant and equipment expenditures by in 1970 with an increase of 32 percent
foreign manufacturing affiliates are to a total $6.1 billion.
Within manufacturing, affiliates in
estimated to have increased 10 percent
last year to $4.6 billion, following reduc- the chemical industry showed a decline
tions in both 1967 and 1968. With man- in capital spending in 1969, confirming
ufactures in many countries continuing earlier expectations. Plans for the curto reduce spending last year, the esti- rent year, however, indicate an increase
mated rise in total manufacturing out- of 29 percent. Anticipations of a rapidly
lays was heavily concentrated in West expanding market for chemical products
Germany, the United Kingdom, and in the Common Market countries is
Canada. Affiliates in these countries spurring much of this increase. Machinagain expect substantial increases in ery manufacturers reported the most
1970, but expansion is also expected in rapid increase in outlays last year—
most other countries. In fact, manu- 27 percent according to current estifacturing is expected to lead the major mates—and they are expected to lead
CHART 12
Expenditures for Plant and Equipment by Foreign Affiliates of U.S. Companies
Billion $
(Ratio scale)
Billion $
20
20
BY AREA
BY INDUSTRY
10
8
Total
Total
Europe
Manufacturing .
%
Petroleum
Other Areas
v:
i
1957
I
59
I
I
61
I
Mining and Smelting
I
I
63
I
I
65
I
I
67
I
I
69
I
1957
NOTE.—1969 obtained by multiplying 1968 by change in "D" estimate. 1970 obtained by
multiplying 1969 by change in "B" estimate. See note to table 2.
I
59
I
I
61
I
I
63
I
I
65
I
I
I
67
I
69
Expected
. U.S. Department of Commerce, Office of Business Economics
21
I
SURVEY OF CURRENT BUSINESS
22
again in 1970 with a 40 percent increase
to a level of $1.8 billion. To a large
degree, the expansion reflects the introduction of more advanced computers
and related equipment into Western
Europe. (It should be noted that the
cost of machinery acquired by manufacturing affiliates for leasing to others
is counted as part of the affiliates7
capital expenditures.) The latest estimates for affiliates manufacturing transportation equipment show some downward revision from the findings 6
months earlier, but substantial expansion is still indicated for both 1969 and
1970. The current estimates are for an
18 percent increase in both years. Taken
together, affiliates in other manufacturing industries currently expect an
increase in outlays this year of 38 percent, or about $0.6 billion, following an
expansion of about half that magnitude
in 1969. Particularly notable within this
group are plans for renewed large investments in 1970 by U.S. owned
Canadian affiliates in the pulp and
paper industry. Manufacturers of primary and fabricated metals also expect
sizable increases in capital spending.
For affiliates in the petroleum industry, expenditures are estimated to
have risen 11 percent in 1969 and are
expected to increase an additional 5
percent in 1970, both smaller increases
than the estimates made 6 months
earlier. If the expectations are realized,
the industry's outlays would total
$3.9 billion in 1970. Investments in
tanker fleets constituted an important
part of the 1969 increase, while expenditures for production and refining
facilities in the Far East are expected
to lead growth in 1970.
Affiliates engaged in mining and
smelting reported a 16 percent rise in
capital spending in 1969, despite a small
reduction of outlays in Canada. This
year, cutbacks in Latin America are
expected to reduce growth for the
entire industry to about one-half the
1969 rate. Affiliates in the "other
industries" category reported substantial gains for both 1969 and 1970
and in all geographic areas, with total
expenditures expected to reach $1.4
billion this year. Firms engaged in trade
and leasing operations account for
most of the growth.
Geographic patterns
The latest estimates of plant and
equipment expenditures in 1969 and
Table 1.—Estimates of Plant and Equipment Expenditures by Foreign Affiliates of U.S.
Corporations, Actual and Projected, by Percent Change and Amounts l
(Billions of dollars)
Percent change
196566
Total
196667
Actual
Projected
Actual
196768 '
Projected
196869
196970
1965
1966
1967
1968'
1969
1970
16
7
2
12
20
7.4
8.6
9.3
9.4
10.6
12.7
25
11
18
21
19
11
21
14
17
19
-1
16
4
-18
-7
10
13
12
-8
0
-8
-22
-6
3
16
11
10
-16
27
18
18
25
8
5
32
29
40
18
38
30
.6
2.3
3.9
.9
.9
.9
1.3
.7
.8
2.5
4.6
1.0
1.0
1.0
1.5
.7
.9
3.0
4.5
1.2
1.1
.8
1.4
.8
1.0
3.3
4.2
1.2
1.0
.6
1.3
.9
1.2
3.7
4.6
1.0
1.3
.7
1.6
1.1
1.3
3.9
6.1
1.3
1.8
.9
2.2
1.4
28
2
23
31
15
3
-5
17
12
15
8
9
-5
30
-13
-18
-6
16
10
18
15
16
12
8
26
7
32
37
26
8
1.8
1.1
2.6
1.4
1.2
1.9
2.4
1.1
3.3
1.9
1.4
1.9
2.2
1.3
3.6
2.1
1.5
2.1
2.1
1.7
3.2
1.7
1.4
2.5
2.3
2.0
3.6
2.0
1.6
2.7
2.9
2.1
4.8
2.8
2.0
2.9
12
3
4
30
12
11
12
13
4
24
8
-15
13
18
9
13
18
6
15
37
5.6
1.7
2.0
1.8
6.3
1.8
2.1
2.4
7.0
2.0
2.4
2.7
7.3
2.5
2.6
2.3
8.3
2.9
2.8
2.6
9.8
3.1
3.2
3.5
By industry
Mining and smelting
Petroleum
Manufacturing
. _ .
Chemicals
Machinery
Transportation equipment
Other manufacturing
Other industries
By area
Canada
Latin America
Europe, total _
Common Market
Other Europe
Other areas
.
By OFDI schedule
All schedule, total
Schedule A
Schedule B
Schedule C
2
r
Revised.
1. See notes to table 2 for derivation of 1969 and 1970 estimates. 2. Does not include Canada. NOTE: Details may not add to
totals due to rounding.
Source: U.S. Department of Commerce, Office 6f Business Economics.
March 1970
1970 confirm earlier indications of a
renewed vigorous expansion by firms
in Western Europe and Canada, especially in 1970. In 1968, expenditures were
reduced in both areas.
Affiliates in the Common Market
countries increased outlays 16 percent
last year. The 37 percent rise now forecast for 1970 is the largest for any
major area and, if realized, would bring
total outlays to $2.8 billion this year.
While gains in the Common Market
countries are expected by all major
industries, the planned expansion by
manufacturers is by far the most significant. The estimated growth of expenditures in other European countries, also led by manufacturers, is at a
pace not far below that in the Common
Market—12 percent in 1969 and 26
percent in 1970. While the latest survey
points to higher outlays in almost all
Western European countries this year,
affiliates in West Germany and the
United Kingdom report by far the
greatest dollar increase in both 1969
and 1970.
In Canada, expenditures are estimated to have grown 10 percent in
1969 to $2.3 billion. As in Western
Europe, a much larger increase, 26 percent, is projected for 1970, with manufacturers leading but
substantial
growth forecast for all major industries.
In the case of manufacturing affiliates
in particular, the current estimates
for 1970 reflect a broad expansion
planned by domestic Canadian firms,
despite the anti-inflationary measures
now in force.
Paced by a large expansion in the
extractive industries, spending in Latin
America rose an estimated 18 percent
last year, the highest growth rate among
the major areas. In 1970, however,
cutbacks in mining and smelting and a
failure to share in the spending boom
by manufacturers occurring in the more
developed countries are expected to
limit expenditure growth in Latin
America to 7 percent, with total outlays reaching $2.1 billion.
In the rest of the world—i.e., areas
other than Europe, Canada, and Latin
America—outlays rose an estimated
8 percent last year and an increase of
the same magnitude is projected for
1970. Petroleum affiliates, including
SUEVEY OF CURRENT BUSINESS
March 1970
those engaged in international shipping,
accounted for most of the increase last
year while manufacturing affiliates,
particularly those in Japan and Australia, are expected to lead growth in
1970.
The projected surge of investment
in 1970 is primarily the result of increased spending by manufacturing
affiliates in developed areas. This is reflected in table 3, which groups affiliates'
spending by the country schedules
23
established by the Office of Foreign
Direct Investment (OFDI). In the less
Continued on Page 85
Table 2.—Estimates of Plant and Equipment Expenditures by Foreign Affiliates of U.S. Corporations—Summary of Surveys 1
[Millions of dollars]
1970
1965
1966
1967
E
E
E
A
B
C
D
Er
A
B
C'
D
A'
7,440
629
2 277
3 884
'650
8,640
789
2 526
4,583
741
9,267
920
3 000
4 525
823
9,773
761
3 432
4,840
739
10,692
1,067
3 610
5,216
799
10,516
1,086
3 558
5,008
864
9,717
1,033
3 441
4,426
817
9,410
1,035
3,349
4,175
850
10,385
1,018
3,520
4.925
922
11,448
1,208
4,025
5,241
974
11,845
1,226
4,187
5,349
1,082
10,921
1,197
3,826
4,874
1,023
12,293
1,041
4,147
6,032
1,073
13,713
1,308
4,206
6,933
1,267
1,847
212
503
944
188
2,357
297
649
1, 174
237
2,233
332
636
1,001
264
2,053
240
616
963
234
2,229
375
670
933
251
2,262
401
681
911
269
2,129
371
645
854
259
2,115
340
669
842
265
2,269
286
707
1,015
261
2,295
350
664
998
284
2,467
358
722
1,074
313
2,335
347
686
988
314
2,613
321
783
1,204
306
2,883
409
754
1,365
355
Latin America , total . _
Mining & smelting
__
Petroleum
Manufacturing
Other industries
__.
1,073
160
307
459
147
1,092
229
268
451
143
1,282
288
306
505
183
1,603
335
475
642
150
1,923
454
491
775
203
1,742
409
410
706
217
1,673
419
421
623
211
1,669
456
418
575
220
1,835
485
441
679
230
2,158
561
564
761
271
2,201
556
622
722
302
1,975
535
545
623
273
1,911
411
573
636
291
2,310
527
647
797
338
Europe:
Common Market, total.
Mining & smelting
Petroleum
Manufacturing. _
O ther industries
.
1,418
3
306
1 042
68
1,853
3
434
1 331
85
2,124
3
582
1 438
100
2,193
3
565
1 533
92
2,233
2
528
1,595
107
2,097
3
491
1 489
114
1,842
3
448
1 288
103
1,732
3
416
1 195
118
2,149
3
588
1,430
128
2,238
3
636
1,481
118
2,315
3
572
1.587
153
2,142
3
533
1,466
139
2,707
4
635
1,905
163
3,067
6
677
2,201
183
1,222
2
297
818
106
1,400
4
344
913
141
1,508
5
463
894
146
1,621
6
473
1 Oil
131
1,696
6
507
1 048
135
1,721
7
558
1 010
146
1,498
7
499
857
135
1,424
7
466
817
134
1,695
4
475
1,064
151
1,782
2
466
1,154
160
1,826
9
513
1,136
168
1,683
9
437
1,076
162
2,103
9
537
1,369
189
2,253
7
557
1,475
215
1,880
252
864
621
143
1,938
257
832
714
135
2 121
293
1,012
687
130
2,304
177
1,303
691
134
2,612
229
1,414
865
104
2,695
266
1,418
891
119
2,574
234
1,428
804
108
2,470
230
1,380
747
113
2,438
240
1,309
737
152
2,976
292
1,696
848
141
3,037
301
1,759
831
147
2,786
303
1,625
722
136
2,958
297
1,619
918
124
3,201
360
1,572
1,095
175
All areas, total
Chemicals _ _ _
Machinery ..
Transportation equipment
Other manufacturing
3 884
861
882
873
1,267
4,583
1 040
1,046
966
1,531
4,525
1 210
1 088
795
1,432
4,840
1 352
1 214
819
1,455
5,216
1 488
1,261
906
1,561
5,008
1 433
1,209
815
1,550
4,426
1 314
1,069
683
1,359
4,175
1,208
1,003
617
1,347
,925
,122
,301
,015
,488
5,241
1,186
1,365
1,036
1,654
5,349
1,193
1,449
986
1,722
4,874
1,109
1,358
808
1,600
6,032
1,259
1,660
1,275
1,838
6,933
1,525
1,908
1,220
2,279
Canada, total
Chemicals
Machinery
_
Transportation equipment
Other manufacturing
944
225
114
224
381
1 174
221
186
255
513
1 001
166
190
234
411
963
254
153
176
380
933
205
164
223
341
911
180
158
201
372
854
166
132
201
356
842
158
131
195
358
1 015
207
195
262
352
998
181
186
248
383
1,074
178
214
251
431
988
184
188
207
409
1,204
197
221
368
418
1,365
244
233
321
567
459
151
66
73
168
451
143
65
171
505
150
78
88
188
642
213
83
105
241
775
237
93
143
302
706
208
94
143
261
623
198
82
114
229
575
179
86
90
220
679
230
109
109
231
761
224
123
151
264
722
220
115
145
242
623
203
107
105
208
636
148
121
149
218
797
203
146
169
280
Europe:
Common Markets, total... _
Chemicals
Machinery
__
Transportation equipment _
Other manufacturing
1 042
147
389
278
228
1,331
275
444
373
239
1,438
427
511
245
255
1,533
355
621
245
312
1,595
381
630
256
328
1,489
352
602
211
325
1,288
319
535
166
269
1,195
313
486
146
249
1,430
249
591
267
323
1,481
251
617
269
344
1,587
322
654
263
348
1,466
293
632
229
313
1,905
362
775
326
442
2,201
482
888
325
507
Other Europe, total
Chemicals
Machinery
Transportation equipment _
Other manufacturing
818
174
193
180
270
913
187
220
191
315
894
210
202
134
349
1,011
226
228
202
355
1,048
261
237
162
389
1,010
267
240
137
366
857
235
212
96
314
817
210
203
86
318
1,064
158
283
250
373
1,154
197
285
233
438
1,136
217
290
193
436
1,076
183
280
173
440
1,369
281
342
273
472
1,475
271
402
257
545
Other areas, total
Chemicals
Machinery. __
Transportation equipment
Other manufacturing
621
164
120
118
219
714
213
132
75
294
687
258
107
94
228
691
304
129
91
167
865
404
137
123
201
891
427
115
123
227
804
397
110
106
192
747
348
98
100
202
737
278
123
128
208
848
334
154
136
224
831
256
176
134
265
722
246
151
95
230
918
272
200
159
287
1,095
326
240
148
381
19169
1968
B
By Area and Major Industry Division
All areas, total
Total mining & smelting
Total petroleum
Total manufacturing
Total other industries
Canada, total
Mining & smelting
Petroleum
M anuf acturing
Other industries
.
_.
. . ..
Other Europe, total
Mining & smelting
Petroleum
M anufacturing
Other industries. .
...
._ . ..
.
Other areas, total
Mining & smelting
Petroleum
.
M anufacturing
Other industries
By Area and Major Manufacturing Industry
Latin America, total Chemicals
.
Machinery
Transportation equipment _.
Other manufacturing
_
72
r
Revised.
1. A. Estimatedin June of previous year.
B. Estimated in December of previous year.
C. Estimated in June of current year.
D. Estimated in December of current year.
E.
Actual—reported in June of following year. The most recent figures for 1969 and 1970 (columns
1969 D and 1970 B in tables 2-4) are not necessarily the best estimates of the actual amounts
of expenditures likely to be made in these years. Better indications of year-to-year changes
are likely to be obtained by comparing an estimate for a given year with that made in the corresponding survey for the previous year, for example 1969 D versus 1968 D, in order to adjust
for systematic reporting bias. The "projections" for 1969 and 1970 in table 1 were derived on
this basis. For 1969, the change in the D estimates (1969 D/1968 D) was applied to 1968 E
(Actual) to obtain the 1969 adjusted estimate. For 1970, the change in the B estimate (1970
B/1969 B) was applied to the adjusted estimate for 1969. (For further discussion, see the technical note on page 46 of the March 1969 issue of the SURVEY.)
NOTE.—Detail may not add to totals because of rounding.
Source: U.S. Department of Commerce, Office of Business Economics.
SUEVEY OF CURRENT BUSINESS
24
March 1970
Table 3.—-Estimates of Plant and Equipment Expenditures by Foreign Affiliates of U.S. Corporations, by OFDI Schedule Area* and
Industry—Summary of Surveys
[MiUions of dollars]
1965
1966
1967
E
E
E
A
B
C
D
E'
A
B
0
D
All schedules, total 1
5,595
6,282
7,034
7,721
8,464
8,254
7,589
7,295
8,116
9,154
9,378
8,586
9 680
10 831
Schedule A, total
Mining & smelting
Petroleum
_
Manufacturing
..
Other industries
1,743
209
638
658
238
1 787
271
574
718
225
1,990
333
688
714
255
2,465
375
1,075
783
231
2 724
489
1,003
970
262
2 592
452
975
880
285
2,493
449
1,008
755
281
2,463
487
990
705
282
2,846
516
1,097
906
327
3 302
604
1,329
1,003
366
3,299
617
1,385
913
384
2 943
601
1,228
772
343
3 072
483
1 365
866
358
3 490
620
1 387
1 055
428
2,026
147
714
1,069
96
2,124
185
692
1,153
94
2,374
222
935
1,113
104
2,492
119
1,002
1,287
83
2,906
171
1 243
1,423
69
2,950
200
1 249
1 406
95
2,695
194
1,173
1,250
78
2,574
187
1,130
1,170
87
2,579
187
952
1,348
92
3,043
227
1 213
1,513
90
3,143
215
1,317
1,511
101
2,932
223
1,198
1 406
104
3,221
200
1 156
1 770
95
3,491
241
1 161
1 964
126
1,826
62
422
1,213
129
2,371
36
612
1,538
185
2,670
33
741
1,697
200
2,764
28
738
1,807
191
2,834
32
695
1,890
217
2,712
33
653
1 810
216
2,401
20
615
1.566
200
2,258
23
560
1,459
216
2,691
28
765
1,656
242
2,809
28
820
1,727
234
2,936
37
763
1,852
284
2,712
27
714
1,709
262
3,387
37
843
2,192
315
3,849
39
905
2 549
357
..
Schedule B, total
Mining & smelting
Petroleum
Manufacturing
Other industries
,_.
. ...
Schedule C, total
.
Mining & smelting.
Petroleum
M anuf acturing
Other industries
... .. _ .
_.._..
_.
..
._
.
.
.
.. .
' Revised.
1. Does not include Canada. For a listing of the countries in each schedule area, see Foreign
Direct Investment Regulation (15 CFR 1000.319 F.R. 49) or reprints of the regulations dated
1968
1969
19 70
A'
B
July 20, 1968, Office of Foreign Direct Investments, U.S. Department of Commerce, Washington, D.C. 20230.
Table 4,—Estimates of Plant and Equipment Expenditures by Foreign Manufacturing and Petroleum Affiliates of U.S. Corporations
by Selected Country—Summary of Surveys
[Millions of dollars!
By Area and Major Industry Division
1970
1969
1965
1966
1967
E
E
E
A
B
C
D
E'
A
B
C'
D
A'
3,884
4,583
4,525
4,840
5,216
5,008
4,426
4,175
4,925
5,241
5,349
4,874
6,032
6,933
944
459
101
78
145
135
1,174
451
91
100
124
136
1,001
505
100
131
133
141
963
642
142
183
136
181
933
775
130
242
215
188
911
706
111
246
191
158
854
623
81
225
172
145
842
575
71
191
182
131
1,015
679
167
206
154
152
998
761
150
252
184
175
1,074
722
149
241
179
153
988
623
107
214
161
141
1,204
636
140
196
160
140
1,365
797
169
207
220
201
1,860
113
243
508
110
68
657
160
2,243
186
288
581
125
151
698
214
2,332
200
371
518
150
198
643
251
2,544
217
396
589
179
152
761
250
2 643
178
453
577
218
169
778
270
2,499
169
437
503
218
162
721
289
2,145
149
349
444
182
164
608
248
2,012
152
306
423
166
147
582
235
2,494
110
406
573
211
130
845
219
2,634
118
434
577
202
150
924
230
2,723
115
421
645
193
213
885
252
2,542
104
369
620
174
200
834
241
3,274
141
505
863
210
187
1,079
290
3,676
200
539
1,005
229
228
1,131
343
88
45
43
94
39
55
73
42
31
62
46
16
70
55
15
74
58
16
59
45
14
65
51
14
39
31
8
58
41
17
64
50
14
42
30
12
77
50
27
68
46
22
291
11
280
66
168
46
327
23
303
91
153
59
400
62
338
50
190
98
376
104
272
43
172
57
486
116
370
60
226
84
522
144
378
35
251
92
485
146
339
28
239
72
440
111
329
25
227
77
456
74
382
90
195
97
522
77
445
79
251
115
492
59
433
49
275
109
440
55
385
39
262
84
513
31
482
58
306
118
669
39
630
86
413
131
242
231
11
294
278
15
214
208
6
254
244
11
309
300
9
295
290
6
260
257
3
242
238
4
241
235
6
267
261
7
276
269
6
241
235
6
329
320
9
357
347
10
2,277
2 526
3,000
3,432
3,349
3,520
4,025
4,187
3,826
503
307
130
61
116
649
268
101
58
109
636
306
103
55
148
616
475
224
88
163
670
491
235
88
168
681
410
185
46
179
645
421
184
59
178
669
418
175
79
164
707
441
227
53
161
664
564
268
114
182
722
622
289
164
169
686
545
249
144
152
783
573
231
128
214
754
647
274
153
220
603
26
75
97
75
33
177
120
778
41
96
172
87
39
163
180
1,045
101
61
251
93
77
289
174
1,038
34
103
205
119
104
290
183
1,036
33
85
159
111
140
334
173
1,049
36
79
145
112
120
368
188
947
34
66
128
102
119
308
191
882
71
62
115
86
82
299
167
1,063
33
95
211
138
110
286
189
1,102
44
94
214
148
135
272
194
1,085
64
95
175
135
103
298
215
970
61
78
177
121
96
265
172
1,172
126
94
189
157
70
300
237
1,233
142
90
173
171
101
310
246
284
440
233
207
289
425
206
219
382
457
191
266
544
463
177
286
616
521
206
315
559
613
213
400
537
585
188
397
527
541
185
356
417
585
175
410
629
635
183
452
680
610
162
448
604
544
151
393
579
670
180
490
519
711
140
571
74
66
69
49
80
94
131
165
150
127
129
118
125
181
116
196
151
157
164
268
165
303
153
324
135
236
130
211
1968
B
Manufacturing
All areas, total
Canada, total
Latin America, total..
Argentina
Brazil.
Mexico
Other countries
.
Europe, total
Belgium & Luxembourg
France
Germany
ItalyNetherlands _
United Kingdom
Other countries
_
__
.
Africa, total
Republic of South Africa.. _
Other countries
Asia, totalMiddle EastFar East...
India
Japan
Other countries
_
.
. . . .
_. _
_
Oceania, total
Australia
Other countries
Petroleum
All areas, total
Canada, total
Latin America, total ...
Venezuela
Other Western Hemisphere
O ther countries
...
Europe, total
Belgium & Luxembourg
France. _
Germany
.
Italy .
Netherlands
United Kingdom
Other countries
.
Africa, total .
Asia, total
Middle East
Far East
Oceania, total
International shipping
..
..
..
' Revised.
See table 2 for notes.
Source: U.S. Department of Commerce, Office of Business Economics.
3,610
3,558
3,441
4,147
4,206
By EVELYN M. PARRISH
The U.S. Balance of Payments: Fourth Quarter and Year 1969
large deficits in the first three quarters,
the seasonally adjusted balance improved in the fourth quarter by $3.7
billion to a surplus of $1,115 million.
The balance measured on the official
reserve transactions basis improved $1.1
billion in 1969 and reached a surplus of
$2,710 million, the largest surplus recorded since this balance was first
calculated beginning in 1960. Most of
the year's surplus occurred in the first
half of the year. In the third quarter
there was a sharp deterioration to a
deficit of $925 million, seasonally adjusted, but the balance swung back in
the fourth quarter to a $1,280 million
surplus.
Both balances reflect changes in U.S.
official reserve assets. In addition, the
liquidity balance—which is intended to
be a broad indicator of potential
pressures on the dollar resulting from
changes in our liquidity position—
takes into consideration changes in
liquid liabilities to all foreigners. The
official reserve transactions balance—
which is intended to be a rough measure
of more immediate exchange market
pressures on the dollar in the reporting
period—takes account of changes in
liabilities only to foreign governments
and central banks, but includes changes
in both liquid and certain nonliquid
liabilities.
During 1969, both the liquidity
balance and, to a lesser extent, the
"official" balance were unusually distorted by special factors. However,
even after rough adjustment for the
distortions, the liquidity balance reJ_ HE U.S. balance of payments on the mained in substantial deficit because
liquidity basis was in deficit by a of a deterioration in recorded private
record $7,060 million in 1969, a deteri- capital flows and sharply increased payoration of $7.2 billion from the small ments to foreigners on their U.S. dollar
surplus of $170 million in 1968. After holdings. Despite this underlying deteThe liquidity balance was in deficit
by $7.0 billion in 1969, a $7.2 billion
deterioration from 1968. The sizable
deficit occurred despite a large swing
into surplus in the fourth quarter when
U.S. corporate capital flows, portfolio
transactions, and errors and omissions
moved favorably. The 1969 liquidity
balance was adversely affected by a
number of unusual developments that
had little real significance, and it thus
substantially overstated the deterioration in our external position. These
developments included a large reversal
of special financial transactions and the
combined effects of the tight U.S.
monetary policy and certain banking
regulations that resulted in roundabout
flows of U.S. funds to the Euro-dollar
market and then back to the United
States through foreign branches of U.S.
banks. After allowance for such factors,
however, the 1969 deficit was still about
as large as any earlier one, largely
reflecting a deterioration in private
capital flows.
Despite the weakness in our underlying liquidity position, the dollar was
strong and the official reserve transactions balance improved—to a surplus of
$2.7 billion in 1969 from a surplus of
$1.6 billion in 1968—largely because of
the extremely high interest rate paid
on dollars held by foreigners. Tight
monetary policy thus had opposite
effects on the two balances in 1969. It
was largely responsible for the $8.8
billion inflow of private liquid funds
from abroad (including roundabout
flows), which accounted for all but a
small part of the difference between
the recorded liquidity deficit and the
"official" surplus.
rioration, the "official" balance showed
a considerable surplus, which mostly
reflected the extreme tightness of U.S.
monetary policy.
The liquidity deficit was substantially
inflated by a reversal of special financial
transactions and by largely unrecorded
outflows of U.S. funds to the Eurodollar market (which were then returned
to the United States through the foreign
branches of U.S. banks), neither of
which indicate any basic weakening in
our external position. Without these
special factors, the liquidity deficit
would probably still have been very
large, probably between $4.0 and $4.5
billion—a figure on the same order of
magnitude as a number of earlier
deficits calculated on the same basis,
but one implying a much smaller
deterioration from 1968 than the $7.2
billion indicated by the recorded figures.
The "official" balance was also adversely affected by the reversal of
special financial transactions, but to a
much smaller extent. At the same time,
however, the "official" balance was
favorably affected by shifts of foreign
official funds from U.S. banks to foreign
banks (in order to get the higher interest
rates available on Euro-dollar deposits).
Even though there was no strengthening of the dollar in the exchange market
nor any loss of dollars by foreign central
banks associated with such shifts, they
reduced recorded liabilities of U.S.
banks to foreign official institutions.
Major Developments in the
Fourth Quarter
The $3.7 billion improvement in the
seasonally adjusted liquidity balance
from the third to the fourth quarter was
largely the result of a shift to inflows
25
March 1970
SURVEY OF CURRENT BUSINESS
26
from outflows on both recorded private
capital transactions arid on errors and
omissions. Repeating the pattern of
1968, most of the inflow appears to have
occurred in the closing weeks of the
year, and once again it was evidently
reversed, in part, early in the new year.
Major favorable shifts in the fourth
quarter are listed below. (Note that the
discussion is based on table Al, in
which data are adjusted to separate
U.S. corporate capital transactions from
other private capital transactions and
to exclude special financial transactions.) (1) A massive turnaround of
$980 million in net movements of U.S.
corporate capital, partly reflecting positioning under the foreign direct investment program; (2) a reduction of $495
million in net U.S. purchases of foreign
securities; (3) an increase of $440 million
in net foreign purchases of U.S. securities—mostly through substantial purchases of U.S. stocks in October when
prices were temporarily rising; (4) a
$370 million swing in U.S. Government
liabilities, mainly reflecting an increase
of $230 million in prepayments for
military goods and a $75 million loan,
both under the agreement with Germany to offset foreign exchange costs
of U.S. military expenditures in that
country; (5) a shift of $1,380 million
short-term funds, which together raised
payments $1,500 million and thus
more than offset the continued increase
in income on U.S. direct investment
abroad and other long-term assets;
(3) net U.S. corporate capital outflows
rose $735 million; (4) net U.S. purchases of foreign securities increased
$220 million; (5) net foreign purchases
of U.S. securities dropped $440 million;
(6) U.S. banking claims (net of longterm liabilities to private foreigners)
shifted $740 million from a net inflow
to a net outflow. The largest changes
occurred in: (7) errors and omissions
in which the net outflow increased
$2,320 million; and (8) special financial
transactions, which shifted $3,190 million from net inflows of $2,285 million
in 1968 to net outflows of $905 million
in 1969.
Favorable changes in 1969 were
Major Developments in 1969
limited to: (1) an increase of $430
The $7.2 billion deterioration in the million in foreign direct investment in
liquidity balance for the full year 1969 the United States; (2) a reduction of
was largely accounted for by the $275 million in U.S. Government grants
following major adverse changes (table and capital outflows; (3) an increase of
Al): (1) The adverse balance on $140 million in U.S. Government remilitary transactions deteriorated $275 ceipts from loan repayments; and (4)
million; (2) the favorable balance on an increase in U.S. Government liainvestment income declined $365 mil- bilities (other than marketable or
lion, mostly as a result of increased convertible securities) $185 million
liabilities and higher interest rates on larger than the 1968 increase.
in errors and omissions to a net inflow,
which may have reflected reversals of
outflows to Germany and the Eurodollar market earlier in the year; and
(6) a decline of $505 million in net
liquidations of special financial transactions.
The only major unfavorable change
in the fourth quarter was a $540 million
swing in claims reported by U.S. banks.
The $2.2 billion fourth quarter improvement in the official reserve transactions balance was smaller than that
in the liquidity balance because of a
reduction in the inflow of private
foreign liquid funds—from $1.2 billion
in the third quarter to a very small
amount in the fourth; this partly offset
favorable changes of $3.3 billion in
other international transactions affecting the "official" balance.
Balance of International Payments
Billion $
BALANCE
Surplus _
CHANGE IN U.S. OFFICIAL
RESERVE ASSETS
(Increase + ; decrease — )
CHANGE IN U.S. LIQUID
LIABILITIES
(Increase —; decrease + )
Official Reserve Transactions Basis
X
/ VA
Total
/
-2
r
Gold Holdings
Liquidity Basis
Deficit
J_
-6
1967
1968
1969
Seasonally Adjusted
1. Includes changes in gold, convertible currencies, and IMF gold tranche.
2. Includes certain nonliquid liabilities to foreign official agencies.
U.S. Department of Commerce, Office of Business Economics
1967
1968
1969
1967
1968
1969
March 1970
SURVEY OF CURRENT BUSINESS
The adverse movement in errors and
omissions—a good part of which reflected roundabout flows through the
Euro-dollar market—and in special
financial transactions accounted for
$5.5 billion or about three-fourths of
the $7.2 billion deterioration in the
liquidity balance in 1969. While the
recorded liquidity deficit was $7.1
billion last year, probably the deficit
would have been between $4.0 and $4.5
billion if adjustment were made for the
$0.9 billion net outflow on special
financial transactions and for a major
part of the $2.3 billion increase in errors
and omissions (assuming that to be,
roughly, a reflection of the roundabout
flows of U.S. funds). That "underlying"
liquidity deficit is roughly near the
upper limit of the $1.2 billion to $4.5
billion range that prevailed during
the 1960's.
The $1.1 billion increase last year in
the surplus on the official reserve
transactions basis reflected a $5.0 billion
increase in the inflow of foreign private
liquid funds (i.e., increases in liquid
liabilities to private foreign residents),
which more than offset the net adverse
movement of $3.9 billion in the other
international transactions that affect
the "official" balance. Reversal of
special financial transactions adversely
affected the official balance in 1969 by
$155 million, an unfavorable shift of
$340 million from 1968.
27
foreign branches, stimulated the demand for funds by U.S. banks in foreign financial markets, mostly the
Euro-dollar market. Furthermore, during most of the year, these deposits
were not subject to reserve requirements so that U.S. banks were able to
pay higher rates than they could have
paid if these deposits had been subject
to the same reserve requirements as
domestic deposits. As a result, a considerable difference developed between
the rate of interest that could be earned
on Euro-dollar deposits as compared
with the rate U.S. banks were permitted
to pay in the United States. This development apparently induced U.S.
residents to shift deposits to the Eurodollar market, where many of the funds
were taken by the branches of U.S.
banks. The branches, in turn, lent funds
to their U.S. parent banks. These
roundabout flows resulted in an increase in U.S. liquid liabilities, which
U.S. monetary conditions
Credit conditions and certain banking
regulations in the United States during
1969 evidently had opposite effects on
the liquidity and the official balances.
Exceptionally tight credit conditions
and the effects of interest rate ceilings
(Regulation Q), which limited the rates
that U.S. banks could pay on deposits
in the United States but not those on
dollar deposits obtained through their
Table Al.-—Balances of Major Transactions
(Millions of dollars)
1969
1968
Line
Lines in tables 1 and 2 in which transactions are included
are indicated in ( )
1968
1969
Change1968-69
I
II
IV
III
IT
II"
III"
IV f
Change —
1969:
III-IV
Seasonally adjusted
1 Balance on goods and services, excluding transfers under military 1
grants (24)
2, 581
2,073
Balance on nonmilitary merchandise trade (3, 15)
626
690
Balance on travel (7, 18)
-1,252 -1,320
Balance on military transactions (4, 16)
-3,
103
-3.
378
1
Balance on investment income (11, 12, 13, 21, 22)
4, 831
4,465
Other services (6, 8, 9, 10, 17, 19, 20)
1,479
1,615
2
3
4
5
6
-508
64
-68
-275
-366
136
471
124
-323
-797
1,100
367
841
264
-308
-763
1,231
417
909
313
-342
-737
1,270
405
1
1366
-75
-279
-805
1, 233
292
348
-101
-317
-790
1,224
332
-339
-877
1,061
445
706
338
-367
-803
1,107
431
729
453
-297
-908
1,074
407
23
115
70
-105
-33
-24
290
7
Private remittances, net, and U.S. Government pensions and
other transfers (27, 30)
-1, 159
— 1, 163
-4
-276
-274
-325
-285
-271
-286
-307
-299
8
8
Private U.S. and foreign capital other than liquid liabilities,
net (32, 51-55) »
941
Corporate capital (assets and liabilities) _
-401
U.S. corporate capital (assets and liabilities) (table Dl).
-720
Foreign direct investment in the United States (51)
319
Net U.S. purchases of foreign securities (34-36) '
-1,145
Net foreign purchases of U.S. securities (52) .
2,113
-860
-706
-1,454
749
-1,365
1,671
-1,801
-305
-735
430
-220
-442
555
228
-23
251
-275
297
126
-589
-594
5
-92
572
-555
-576
-599
23
-337
451
815
536
495
41
-442
793
150
-440
-677
237
-308
788
-1, 382
-696
-865
169
-427
230
-526
-307
-446
139
-562
107
896
736
533
203
-69
546
1,422
1,043
979
64
493
439
262
113
-480
20
-742
-93
236
69
238
-3
-83
-10
-129
57
76
34
-489
236
-303
-14
-539
-14
Government grants and capital, net (29, 42-45, 56, 57) i _ _
-3,839
Grants (excluding military) and additions to assets (29, 42,
43) _ _
-5,347
Loan repayments (44, 45) l
1,195
Liabilities other than marketable or convertible securities
(56, 57) i__
313
-3,238
601
-1,075
-918
-1,055
-791
-758
-981
-942
-557
385
-5, 070
1,336
277
141
-1,426
287
-1,365
307
-1,301
278
-1, 254
322
-1, 118
325
-1,515
326
-1,222
339
-1,216
347
6
8
140
-32
141
35
208
-59
312
-1,239
-1,039
-1,034
348
1,382
504
9
10
11
12
13
14
15
16
17
18
19
Claims and liabilities reported by U.S. banks (37, 38, 53) 1...
Claims and liabilities reported by brokerage concerns (40, 55) .
371
496
183
64
20
Errors and omissions (60) .
-642
-2,963
-2, 321
-410
-480
309
-60
21
Special financial transactions (table A2) 1
2,285
-906
-3, 191
172
717
579
817
96
-492
-507
-3
22
Total of above transactions equals balance measured on
LIQUIDITY BASIS
168
-7,058
-7,226
-564
9
-139
862
-1,675
-3,888
-2,608
1,113
23
Increase in liquidity liabilities to private foreign residents
3,811
8,772
4,961
540
2,314
765
192
2,844
4,739
1,163
26
-1, 137
24
Adjustment for changes in certain nonliquid liabilities to foreign
official agencies (an increase is shown with a negative sign) 2 _ . . -2,341
998
3,339
-355
-770
-529
-687
-37
375
518
142
-376
2,712
1,074
-379
1,553
97
367
1,226
-927
25
Total of above transactions equals balance measured on OFFICIAL RESERVE TRANSACTIONS BASIS
r
1,638
Revised.
» Preliminary.
1. Balances of major transactions exclude special financial transactions, which are listed
separately in table A2.
2. Most of the changes in "certain nonliquid liabilities" are included among the special
financial transactions (line 21) and an increase in them improves the liquidity balance. The
1,132
1,281
3,721
2,208
balance on official reserve transactions, however, is not affected by changes in "certain nonliquid liabilities" since they are considered part of the financing of this balance.
NOTE.—Details may not add to totals because of rounding.
SUEVEY OF CURRENT BUSINESS
28
March 1970
eign official dollar holdings and an in- ally tight conditions in U.S. financial
crease in foreign private dollar holdings. markets and probably unsustainably
At the same time, however, some high interest rates. The large official
foreign official agencies apparently surplus in 1969 is no indication of a
shifted deposits from U.S. banks to fundamental improvement in our basic
foreign branches of U.S. banks, in order position, particularly in view of the
to obtain the higher interest rates pre- deterioration in the "underlying" liquidvailing in the Euro-dollar market. As ity balance.
Conditions somewhat similar to those
recorded in U.S. statistics, such shifts
in
1969 also existed in the second half
have the effect of reducing U.S. liabiliof
1966. When financial conditions
ties to foreign official agencies and increasing those to foreign banks. Their tightened sharply, the official reserve
effect is thus to improve the official transactions balance showed a change
reserve transactions balance, as re- to a surplus while the liquidity balance
corded, but the improvement is not real continued in deficit. However, when
because such shifts of funds do not re- monetary policy was sharply eased in
flect an improvement of the dollar in 1967, the official reserve transactions
the exchange markets nor is there any balance changed back to a large deficit.
associated reduction in the dollar holdEconomic developments abroad
ings of foreign official agencies.
Growth of foreign industrial econoOn the other hand, the 1969 decline
mies
in 1969 remained close to the high
in dollar balances held by foreign
rate
of
the preceding year. Pressures on
official agencies associated with their
foreign
capacity intensified, which insales of dollars to private foreign resicreased foreign demand for U.S. goods.
dents is properly recorded as an imThese developments, together with the
provement in the official reserve trans- deceleration of growth in the U.S.
actions balance. This decline reflects economy in 1969—which effectively
the sensitivity of the "official" balance dampened the growth of U.S. demand
to monetary policy. The large surplus for foreign goods, especially after midin 1969, however, was due to exception- year—helped prevent a further deterioration in the trade balance in 1969.
Boom conditions abroad caused sevTable A2.—Changes in Near-Liquid Liabilities, Nonscheduled Repayments by Foreign
eral foreign governments to adopt
Governments of U.S. Credits, and Other Special Financial Transactions by U.S. and
monetary policies designed to restrain
Foreign Official and International Agencies.
inflationary
pressures. Under the com[Millions of doUarsl
bined influence of these moves and
Line Lines in tables 1, 2, and 8 in which transac19(59
1968
similar U.S. actions, foreign capital
tions are included are indicated in ( )
1968 1969 P
markets tightened during the year with
II
I
I
IV
III
II'
III' IV P
an adverse effect on the ability of U.S.
Total:
corporations to obtain foreign capital.
-3
1 Effect on balance measured on liquidity basis » 2,285 -906
-507
717
579
817
96 -492
172
International capital markets were
2 Effect on balance measured on official reserve
6
34
-162
-11
104
19
—
15
reserve transactions basis
185 — 154
56
also unsettled during much of the year
Investment in long-term time deposits or certibecause of uncertainties about the
ficates of deposit in U.S. banks (53):
-391
-206
3
By foreign official agencies . ,
150
131
138 -43 -196
535 -836
116
stability of several major foreign cur4
100
5
30 -19
111
8
By international and regional organizations
62
113 -60
(*)
rencies. Early in the spring large
Investment in certain nonmarketable, mediumterm U.S. Government securities (57):
amounts of U.S. funds were transferred
5
-250
75
200
By Canadian official agencies
100
500
250
1,050 —175
6
22
230 -30
-45 -115
By other official agencies
48
35
335 —190
abroad in expectation of an upward
7
125
By foreign commercial banks
125
8 Investment in U.S. agency bonds by internarevaluation of the German mark. Some
134
-43
119
184
tional and regional organizations (52)
78
61
336 -38 -41
118
9 Special deposits in accounts with U.S. Treasof these transfers appeared in the direct
49
-8
—8
ury by foreign official agencies (56)
49
10 Nonscheduled repayments by foreign governinvestment account. After the May 9
ments of U.S. Government credits (including sales of foreign obligations to foreigners)
announcement that the exchange rate
-11
3
34 -154
(45) . . . . .
42
169
55
269 -131
11 Other special financial transactions with
of the mark would not be altered, some
Canada (34, 35, 36)
-13 — 15
—121 — 15 -36 —72
12 Deferral of service on United Kingdom loan
of these funds may have been shifted to
(13,44)
-137
-137
the Euro-dollar market. Uncertainties
*Less than $500,000.
Revised.
P Preliminary.
in the exchange markets continued,
1. Includes all special financial transactions.
2. Includes only special financial transactions in lines 7, 9-12.
however, and the French franc was
NOTE.—Details may not add to totals because of rounding.
was, in an ultimate sense, to U.S.
residents rather than to foreigners, and
therefore not essentially a deterioration
in the U.S. liquidity position. Unfortunately, most outflows of funds through
transactions of this sort were not specifically reported, but can only be
inferred from the exceptional rise of
$2.3 billion in missing net debits in the
errors and omission accounts in 1969.
Thus, as was indicated earlier, the
appropriate adjustments to arrive at
the "underlying" liquidity balance can
only be roughly estimated.
The restrictive monetary conditions
that had adverse effects on the liquidity
balance simultaneously produced effects
that were favorable for the balance on
official reserve transactions. The heavy
demand for Euro-dollars on the part of
U.S. banks seeking to borrow through
their foreign branches, and the resulting high rates on Euro-dollar deposits,
induced an enormous inflow of foreign
private liquid funds—mostly through
those foreign branches. The inflow was
not only sufficient to finance the 1969
liquidity deficit but also caused foreign
private residents to shift funds from
foreign currency assets to U.S. dollars.
These shifts resulted in a decline in for-
2
r
March 1970
devalued in August. The German
mark—after floating during most of
October—was revalued upward at the
end of that month. The U.S. dollar
remained strong during the year largely
because of the very high interest rates
foreigners could earn on their liquid
dollar assets. Following the German
revaluation, U.S. funds, including gains
from changes in exchange rates, were
repatriated.
The Financing of the Balances
Transactions in U.S. official reserve
assets resulted in an increase of $1,187
million in 1969 (table 3). The rise
consisted of (1) a $967 million increase
in official gold holdings, (2) a $1,034
million improvement in our gold tranche
position at the IMF, partially offset
by (3) net sales of $814 million of
convertible foreign currencies, reflecting mainly reversals by foreigners of
earlier drawings on mutual swap facilities with the United States. (The gold
tranche position is essentially our
automatic right to obtain foreign currencies for dollars; our position improves with a decline in Fund dollar
holdings. This occurred in 1969 because
foreign countries reduced the Fund
dollar holdings by drawing dollars in
exchange for their own currencies.)
A major part of the gold purchases and
the improvement in our gold tranche
position, as well as the net sales of
convertible currencies, came in the
fourth quarter.
Liquid liabilities to all foreigners
increased $8,245 million in 1969. This
rise, minus the $1,187 million net purchases of official reserve assets, equals
the $7,058 million liquidity deficit.
Liquid liabilities to foreign commercial
banks (including foreign branches of
U.S. banks) rose $9,272 million. Liquid
liabilites to official agencies decreased
$527 million; those to international and
regional organizations dropped $63 million; and those to other foreigners
decreased $437 million.
Total liquid liabilities to all foreigners
(not seasonally adjusted) rose $1,316
million in the first quarter, $4,115
million in the second, and $3,658 million
in the third. Nearly all this growth was
in liabilities of U.S. banks to their
SURVEY OF CURRENT BUSINESS
foreign branches. In the fourth quarter
a small part of the earlier increase was
reversed as total liquid liabilities declined $844 million. Most of that decline—$520 million—was in liquid liabilities to official agencies. Liquid
liabilities of U.S. banks to their foreign
branches also declined, but that decline
was largely offset by a rise in liabilities
to other foreign commercial banks.
The 1969 surplus of $2,712 million
on the official reserve transactions balance consisted of the above-mentioned
$1,187 million increase in U.S. reserve
assets, plus the $527 million decrease in
liquid liabilities to official foreigners and
a $998 million decrease in certain
29
nonliquid liabilities to foreign official
agencies.
Details of Major Transactions
Special financial transactions
For 1969 as a whole, special financial
transactions adversely affected the liquidity balance by $905 million; in
1968 they had improved that balance
by $2,285 million (table A2). Foreign
official agencies reduced by about
$1,200 million their holdings of time
deposits with a maturity over one year
and nonmarketable medium-term U.S.
Table B-l.—U.S. Nonmilitary Exports:1 Total, Agricultural, and Nonagricultural
(Millions of dollars)
1968
1968
1969
I
II
1969
III
IV
I
II
III
IV P
Seasonally adjusted
ALL COMMODITIES
Global, all countries
Developed countries, total
Developing countries, total
33,598
_. .. 23,027
10, 571
36,487
25,686
10,801
7,941
5,402
2,539
8.395
5,700
2,695
8,879
6,112
2,767
8,383
5,817
2,566
7,478
5,507
1,971
9,599
6,495
3,104
9,581
6,747
2,834
9,829
6,945
2,884
10,543
1,959
8,584
11,633
2,024
9,609
2,381
449
1,932
2,626
503
2,123
2,972
514
2,458
2,583
494
2,089
2,257
392
1,865
3,051
535
2,516
3,088
514
2,574
3,235
583
2,652
Eastern Europe (Soviet-bloc)
Canada
Latin American Republics . _
222
8,141
4,632
253
9,187
4,819
46
1,956
1,063
50
1,973
1,175
70
2,024
1,226
62
2,176
1,159
33
2,310
937
65
2,205
1,318
85
2,353
1,264
80
2,333
1,286
Japan
Australia, New Zealand & So. Africa
All other countries
_
__
2,959
1,384
5,717
3,510
1,356
5,729
727
338
1,430
733
368
1,470
761
355
1,471
735
323
1,345
690
250
1,001
883
356
1,721
946
360
1,485
987
390
1,518
Western Europe, total
United Kingdom
Other Western Europe
AGRICULTURAL
Global, all countries
Developed countries, total
Developing countries, total
6,293
3,862
2,431
6,010
3,899
2,111
1,666
966
700
1,540
918
622
1,608
1,032
576
1,479
945
534
979
643
336
1,758
1,074
684
1,590
1,029
561
1,683
1,144
539
Western Europe, total . .
United Kingdom
Other Western Europe
2,338
387
1,951
2,339
393
1,946
577
99
478
556
93
463
638
101
537
567
95
472
348
46
302
703
109
594
595
105
490
678
124
554
_
121
509
506
87
541
454
24
128
116
25
115
132
44
139
134
36
128
123
9
136
77
25
117
122
26
153
117
34
140
136
Japan
Australia, New Zealand & So. Africa
All other countries
__ .
944
71
1,804
952
67
1,570
243
18
560
230
17
465
237
18
398
232
18
375
149
10
250
238
16
537
264
17
418
302
24
369
Eastern Europe (Soviet-bloc)
Canada
Latin American Republics
NONAGRICULTURAL
Global, all countries
Developed countries, total
Developing countries, total
27,305
19, 165
8,140
30,477
21, 787
8,690
6,275
4,436
1,839
6,855
4,782
2,073
7,271
5,080
2,191
6,904
4,872
2,032
6,499
4,864
1,635
7,841
5,421
2,420
7,991
5,718
2,273
8,146
5,801
2,345
Western Europe, total.
United Kingdom
Other Western Europe.. _ _ .
8,205
1,572
6,633
9,294
1,631
7,663
1,804
350
1,454
2,070
410
1,660
2,334
413
1,921
2,016
399
1,617
1,909
346
1,563
2,348
426
1,922
2,493
409
2,084
2,557
459
2,098
Eastern Europe (Soviet-bloc)
Canada __
Latin American Republics .
101
7,632
4,126
166
8,646
4,365
22
1,828
947
25
1,858
1,043
26
1,885
1,092
26
2,048
1,036
24
2,174
860
40
2,088
1,196
59
2,200
1,147
46
2,193
1,150
Japan
Australia, New Zealand & So. Africa
All other countries
2,015
1,313
3,913
2,558
1,289
4,159
484
320
870
503
351
1,005
524
337
1,073
503
305
970
541
240
751
645
340
1,184
682
343
1,067
685
366
1,149
l
p Preliminary.
Balance of payments basis.
NOTE.—Seasonally adjusted quarterly data may not add to unadjusted yearly totals.
SUEVEY OF CUKEENT BUSINESS
30
Government securities, compared with
net purchases of $1,920 million in 1968.
The full impact of that shift was eased
somewhat by portfolio adjustments by
international and regional organizations that resulted in a $450 million
increase in their holdings of long-term
time deposits and U.S. agency bonds
in 1969, compared with an increase of
only $180 million in 1968. The remainTable B2.—U.S. Nonmilitary Merchandise
Trade, on the Balance of Payments
Basis, Adjusted for Temporary Distortions*
financial transactions in 1969 was concentrated in the second and third
quarters. Their net impact in the fourth
quarter was negligible: Net purchases
of $75 million of nonmarketable mediumterm U.S. Government securities by
Canada and purchases of $135 million
of U.S. Government agency bonds by
international and regional organizations
were largely offset by a $205 million
reduction in long-term time deposits
of foreign official agencies.
Goods and Services
[Billions of dollars, seasonally adjusted]
Recorded data
Adjusted data
Balance
Exports
Im- Balports ance
Exports
Imports
1968:
Jan,-June
July-Dec
16.34
17.26
15.95
17.02
0.39
.24
16.35
17.20
15.40
16.73
0.95
.47
Year
33.60
32.97
.63
33.55
32.13
1.42
1969:
Jan.-June
July-Dec
17.08
19.41
17.18 -.10
18.62
.79
17.98
19.31
17.58
18.62
.40
.69
36.49
35.80
37.29
36.20
1.09
Year__
.69
* Mainly effects of strikes and threats of shipping in shipping, copper and steel industries.
ing special financial transactions, which
affected not only the liquidity balance
but also the official reserve transactions balance, were adverse by $155
million in 1969; they had been favorable
by $185 million in 1968.
Most of the adverse effect of special
The balance on goods and services
deteriorated in 1969 to a $2,075 million
surplus from an already relatively low
surplus of $2,580 million in 1968
(table Al). There was a marked improvement in the second half of the
year, however, as the balance rose to an
annual rate of $2,870 million from
$1,275 million in the first half. The
improvement was primarily in the
trade balance. After a deficit in the
first half, it recovered sufficiently to
make the recorded trade surplus for
the year as a whole slightly larger than
in 1968. The balances on military
transactions and investment income,
on the other hand, worsened during
the year, and accounted for most of the
year-to-year deterioration in the balance on goods and services.
March 1970
Merchandise trade
Nonmilitary merchandise exports increased $2,890 million to $36,485 million in 1969, while imports rose $2,825
million to $35,795 million (table 4).
With exports and imports advancing by
nearly the same amount, the 1969
trade surplus of $690 million was little
changed from the $625 million surplus
in 1968, but far below the surpluses
in the years 1960-1967, which averaged
about $5.0 billion. (The merchandise
trade data are on the balance of payments basis, which excludes Department of Defense exports and imports
and reflects various other adjustments
to the trade data compiled by the
Census Bureau.)
Merchandise trade was distorted in
both 1969 and 1968 by strikes (or
threats of strikes) in the shipping and
metal-producing industries and by other
special developments that reduced exports and—to a lesser extent—imports
in 1969, and sharply inflated imports in
1968. Excluding the estimated effects
of those special developments, the
trade surplus might have been higher
by roughly $400 million in 1969 and by
$800 million in 1968 (table B2). While
this suggests some underlying deterioration on a year-to-year basis, the
trade balance improved in the second
half of 1969, and especially in the fourth
quarter, as exports increased more than
the imports.
Exports
Table C.—Government Grants and Transactions Increasing Government Assets
[Millions of dollars]
1968
19 68
1969"
I
1969
II
III
IV
I
II
IIP
IV*
Total (table 1, lines 29, 42, and 43
with sign reversed)
5,347
5 070
1,433
1,505
1 172
1 236
1 127
1 658
1 088
1 198
Less: Estimated dollar payments to
foreign countries and international
and regional organizations (table 5,
line A.34)i
641
751
136
205
123
177
165
206
191
190
Equals: Estimated transactions involving no direct dollar outflow
from the United States (table 5,
lineA.26) .
4,705
4,319
1,296
1,300
1,050
1,059
962
1 452
897
1 008
1,231
1,125
400
408
175
248
195
490
178
262
1 739
1,517
219
1 759
1, 258
177
437
370
90
461
382
49
445
394
36
396
371
44
385
337
46
542
366
54
410
272
38
423
284
39
Under farm product disposal
programs
Under Foreign Assistance Acts
and related programs
Under Export-Import Bank Act.
Other
r
* Preliminary.
Revised.
1. The identification of transactions involving direct dollar outflow from the United States is made by the operating
agency. Data for third and fourth quarters 1968 and for all quarters 1969 are based on extrapolations by OBE.
NOTE.—-Details may not add to totals because of rounding.
Changes in U.S. exports are primarily
affected by changes in foreign economic
activity—especially in the major industrialized countries. Since 1958, as can
be seen in chart 14, the growth rate of
nonagricultural exports (adjusted to
exclude aircraft deliveries, which move
erratically, and exports of automotive
products to Canada, as well as temporary distortions from strikes) followed changes in foreign industrial
production quite closely in periods of
acceleration. When the growth of foreign production started to decelerate,
however, the slowdown in export
growth was sometimes delayed. This
may reflect the effects of continued
high capacity utilization abroad as well
as deliveries of orders placed earlier.
March 1970
SURVEY OF CURRENT BUSINESS
31
The 1969 export performance seems to cause a $320 million reduction in the rate of import growth may be exrepeat the experience in other years agricultural shipments partly offset pected to fall well below that of GNP.
when cyclical developments were sim- rises in other exports.
The impact on imports of the slowilar. In the first half of 1969 foreign
down in the expansion of the domestic
industrial production was 10.5 percent Imports
economy is noticeable in the behavior
higher than in the first half of 1968
Just as exports react mainly to of imports of machinery and nonfood
and U.S. nonagricultural exports were changes in foreign economic activity, consumer goods, which did not rise in
15.0 percent higher; in the second half, changes in imports have generally the fourth quarter even though gains
the increase in foreign industrial pro- closely followed changes in the U.S. for the year as a whole were larger than
duction over the corresponding period gross national product, as can be seen in 1968.
a year earlier slowed to 7.5 percent, in chart 15. Since 1958 imports have
Imports of automotive vehicles and
but the rise in exports accelerated risen at a faster rate than GNP during parts from Canada, which have been
slightly to 15.5 percent.
upswings in the business cycle and have rising steadily since the beginning of
The commodity detail of the 1969 fallen more sharply than GNP during the U.S.-Canadian Automotive Trade
rise in nonmilitary exports shows an downturns. In the second half of 1968, Agreement in 1965, rose $830 million
extraordinarily large increase of $385 when GNP was 9.4 percent higher than in 1969 to $3,150 million (transactions
million in iron and steel shipments, a year earlier, imports were 20 percent value basis). Imports of automobiles
after years of near stagnancy. The rise higher (even after exclusion of abnormal from Japan have also grown in recent
mainly reflected tight capacity and
imports of metals associated with years; last year they reached nearly
heavy demand for steel in Canada and
$445 million, an increase of $170 million
strikes, and of the fast-growing imports
Western Europe. Machinery exports
from 1968. Automotive imports from
also expanded at an exceptionally high of automotive products from Canada). Europe, on the other hand, were $1,400
rate last year, rising by $1, 350 million As the growth of GNP slowed during million, the same as in 1968. Imports of
to $9,990 million. The high point was 1969, that of imports dropped even foreign-model cars declined in late 1969,
reached in the third quarter; in the more rapidly. If the experience of but that decrease does not necessarily
fourth, machinery exports dropped earlier years continues, and the rate of reflect a corresponding change in doslightly.
GNP growth slackens further in 1970, mestic demand since dealers7 sales of
Exports of civilian aircraft and parts
were $2,210 million in 1969, about $120
million below the 1968 peak. Most of
the dip was in the middle quarters of
Percent Change in U.S. Nonagricultural Exports and Percent Change
1969; in the fourth quarter, aircraft
in Industrial Production in Major Foreign Industrial Countries
exports rose to an annual rate of $2.4
billion, and may rise further in 1970
Percent
20
as the new jumbo jets are delivered.
Automotive exports to Canada, which
U.S. Nonagricultural Exports1
had risen about $485 million in 1967
and $625 million in 1968, increased only
$360 million to $2,735 million in 1969.
10 —
Exports of agricultural goods were
$6,010 million in 1969, nearly $300
million less than in 1968 and $950
million below the peak reached in 1966.
The 1969 decline partly reflected losses
resulting from the dock strike early in
the year. In addition, exports of grain
and cotton dropped sharply last year
largely because of abundant supplies -10 —
in other producing areas.
Most of the 1969 gain was in exports
to developed areas (table Bl). Export
increases of $1,090 million to Western
I
I
I
-20
Europe and $550 million to Japan were
62
59
60
64
1958
63
65
69
66
70
68
Half Years
the highest in recent years. The rise
Percent Change From Corresponding Period 1 Year Earlier
in exports to Canada was $1,045 million.
1. U.S. nonagricultural exports are adjusted to exclude automotive exports to Canada, aircraft, and temporary effects of U.S. strikes.
Deliveries to less-developed areas rose 2. Industrial production in Canada, Japan, United Kingdom, Germany, France, and Italy, weighted by these countries' percentage shares in U.S. exports.
only about $230 million, mainly be- U.S. Department of Commerce, Office of Business Economics
SURVEY OF CUREENT BUSINESS
32
new foreign-model cars did not appear
to have slackened.
Imports of industrial materials, with
the exception of petroleum, were scarcely higher in the second half of 1969
than in the second half of 1968. Petroleum imports, however, advanced
rapidly in the fourth quarter, and for
the year as a whole rose $270 million.
Metal imports dropped $600 million in
1969. That decline was largely an
adjustment from the extraordinarily
high strike-induced level in 1968.
Half of the $2,825 million increase in
imports in 1969 came from Canada,
about $825 million from Japan, and
most of the remainder from less developed countries, mainly in Asia. Imports from Western Europe remained
about the same as in 1968.
under military sales contracts increased
about $75 million to $1,505 million, but
military expenditures rose $350 million
to $4,880 million. Most of the latter
increase was in Germany, Japan, Korea,
and other Asian countries.
Investment income
U.S. receipts from income on direct
investment rose $720 million to $5,705
million in 1969, an increase substantially
larger than in any other year. Receipts
peaked at a seasonally adjusted figure
of $1,525 million in the third quarter,
and then dropped to $1,440 million in
the fourth. In both quarters, receipts
included a larger than usual amount
of dividends mainly paid out of prior
years' earnings. In the fourth quarter,
one such dividend paid by a foreign
subsidiary amounted to $125 million.
Receipts from other private investMilitary transactions
ment
increased $310 million to $2,260
The balance on military goods and
million
in 1969. Most of the rise, which
services transactions (excluding transfers under military grants) deteriorated continued steadily throughout 1969,
was due to increased interest rates paid
$275 million in 1969.
Transfers of goods and services on U.S. short-term assets abroad.
CHART 15
March 1970
Income from Government assets increased about $100 million in 1969, in
addition to $65 million that reflected
the annual receipt of interest on the
British debt, which had been deferred
in 1968.
Private income payments on foreign
investment in the United States soared
by $1,425 million to $3,655 million in
1969.
About half of that rise was
attributable to higher interest rates—
especially Euro-dollar rates—paid by
U.S. banks and corporations on their
short-term liabilities to foreign residents. The rise of interest rates in the
United States also increased payments
on foreign holdings of U.S. Government securities.
Private Capital Transactions
Net private capital outflows in 1969
were $860 million, a reversal of $1,800
million from the very exceptional 1968
net inflow of $940 million (table Al,
line 8). The 1969 figure, however, was
substantially smaller than the 1967
net outflow of $3,550 million. A large
part of the adverse change in 1969 was
in increased U.S. corporate capital
outflows and U.S. bank-reported claims.
Percent Change in U.S. GNP and Percent Change in U.S. Imports
17. S. corporate capital
Percent
-10 —
I
1958
I
I
I II I
59
60
61
I
62
63
t
i
64
I
I
I
65
66
67
Half Years
Percent Change From Corresponding Period 1 Year Earlier
1. U.S. imports are adjusted to exclude automotive shipments from Canada to the United States and temporary effects of U.S. strikes.
U.S. Department of Commerce, Office of Business Economics
68
I
I
69
70
U.S. corporate net capital outflows
(including changes in both assets and
liabilities) were $1,455 million in 1969,
a $735 million increase from the
unusually low net outflow of $720
million in 1968 when the foreign direct
investment program was first made
mandatory (table Dl). The 1969 net
outflow, however, was still much below
the 1967 outflow of $2,850 million. In
the first three quarters of 1969, there
were net outflows of U.S. corporate
capital averaging about $665 million
per quarter, but there was an abrupt
shift in the fourth quarter to inflows
of $535 million. This shift closely
paralleled that in 1968, in both direction and magnitude, and probably
largely reflected positioning by the
corporations under the foreign direct
investment program. The fourth quarter
repatriations also included a reflux of
SUKVEY OF CURRENT BUSINESS
March 1970
funds that had moved to Germany in
anticipation of the revaluation of the
German mark. In addition, some of the
inflow may have been used to meet
parent companies' yearend requirements for funds that could not readily
be obtained through domestic channels
because of the tight credit situation. A
significant part of the inflow that came
near the end of 1969 probably was
reversed in early 1970.
Corporate borrowing in the Eurobond market dropped from $2,130
million in 1968 to about $1,025 million
in 1969 (table D2). In the fourth
quarter about $250 million was borrowed. For the year as a whole, about
$610 million of the Euro-bond borrowings was utilized for direct investment, nearly $300 million was repatriated, and the rest—nearly $120
million—was left on deposit abroad as
corporate short-term claims on foreigners. (To the extent that the proceeds
of Euro-bond borrowings are left on
deposit abroad, the borrowings do not
improve the balance of payments.)
In 1968, when Euro-bond borrowings
were much higher, $975 million of the
proceeds was left on foreign deposit.
Capital transfers by U.S. companies
for direct investments abroad were
$3,060 million in 1969, about the same
as in 1968. These transactions shifted
favorably by $1,190 million from the
third to the fourth quarter when there
was a net inflow of about $60 million,
seasonally adjusted. The fourth quarter
figure included an inflow of about $300
million from Germany, in part reversing
the large outflows earlier in the year.
Also included was a $175 million
liquidation of a major direct investment
in Latin America. That transaction
involved the issue of notes by the
country in which the investment was
located to the former parent company.
The receipt of these notes is reported as
an increase in long-term corporate
claims on nonaffiliated foreign residents
(table Dl, line 3, and tables 1, 2, and 8,
line 39).
The fact that net outflows of U.S.
corporate capital (including changes in
assets and liabilities) were sharply
lower in both 1969 and 1968 than in
previous years was caused by a shift
from net outflows to net inflows in
transactions with Western Europe
(chart 16). These net inflows amounted
to $720 million in 1969 and $1,510
million in 1968, as compared with an
average net outflow of $1,120 million in
1965-67. This shift was largely accomplished through sales of corporate
securities on the Euro-bond market and
through borrowing from foreign banks.
Net outflows of corporate capital to
the rest of the world were about $2,175
million in 1969, nearly the same as in
1968 but higher than the $1,760 million
average in 1965-67.
33
Foreign direct investment
Capital inflows for foreign direct
investment in the United States more
than doubled to $750 million in 1969
(table Al, line 11). Of that total, new
investments (including new acquisitions
and increases in equity interests in
existing U.S. affiliates) amounted to
over $500 million, nearly $100 million
more than in 1968. Over half of those
new investments were made in the
fourth quarter, mainly by European
companies. Inflows of capital to U.S.
affiliates from their foreign parents
through changes in claims and liabilities
on intercompany accounts rose from a
negligible amount in 1968 to over $200
million in 1969.
Foreign securities
The net outflow of U.S. private
capital for investment in foreign securities (excluding special financial transactions—mainly U.S. private purchases of new issues of the Canadian
Government amounting to $85 million
in 1968 and $15 million in 1969) was
$1,365 million in 1969, about $220 million more than in 1968 (table Al, line
12). U.S. purchases of new foreign
issues increased about $40 million even
though U.S. interest rates were a full
percentage point higher, and redemp-
Table Dl.—Net Change in Foreign Assets and Liabilities of U.S. Corporations (Excluding Banking and Brokerage Claims and Liabilities)
[Millions of dollars]
Line
Credits (+); debits (-)
[Lines in tables 1, 2, and 8 in which
transactions are included are indicated
in ( ) unless otherwise noted]
1968
1968
1969
Change:
1968-69
I
II
1969
III
IV
I
II
III'
IV P
Change —
1969:
III-IV
Seasonally adjusted
1
Total _
2
Direct investments (33)
3
4
5
6
Other corporate claims:
Long-term (39)
Short-term (40) 1
Funds obtained through security issues
(table D 2, line 3)
Other . .
7
8
Corporate liabilities other than new issues of
securities:
Long-term (64)
Short-term (55) * .
9
New issues of securities (52)
T
2
-594
-599
495
-677
-865
-446
533
979
-1,009
-1,262
-283
-928
-1,057
-1, 134
58
1,192
34
-322
-32
-469
-57
-98
-119
137
-82
-220
-81
9
-3
111
—180
167
-177
56
855
-36
-374
52
-510
41
-194
96
105
32
-61
-159
21
-12
30
81
-108
275
-138
194
593
266
-80
-163
154
3
165
166
10
222
344
38
148
4
59
55
151
204
235
3
84
-201
1,026
-1, 103
580
585
586
378
401
150
225
250
25
-720
-1,454
-735
-3, 025
-3,060
-36
-472
-174
-752
-346
67
-172
819
-973
221
-118
185
673
429
2,129
Revised.
» Preliminary.
1. Excludes brokerage claims and liabilities.
2. New issues of securities sold abroad by U.S. corporations exclude securities issued by
subsidiaries incorporated abroad and also exclude funds obtained abroad by U.S. corpora-
-23
tions through bank loans and other credits. However, securities issued by finance subsidiaries
incorporated abroad are treated as if they had been issued by U.S. corporations if the proceeds
of such issues are transferred to U.S. parent companies. Uses of proceeds are shown in table D2.
NOTE.—Details may not add to totals because of rounding.
SURVEY OF CURRENT BUSINESS
34
tions were only slightly lower. However,
U.S. net purchases of other foreign
securities more than tripled to $230
million. The rise mainly reflected the
investment of over $200 million in
Japanese equities, mostly in the second
half of the year. U.S. purchases of
Japanese equities had been minimal in
1968.
The outflow of U.S. funds for portfolio investment abroad, seasonally adjusted, rose in each of the first three
quarters of 1969, but then fell by nearly
$500 million to about $70 million in the
fourth quarter. New issues placed in
the United States in the fourth quarter,
particularly by Canada and to a lesser
extent by the World Bank, declined by
nearly half to $285 million. Some of the
decline may have been due to postponements in the expectation of some
easing in U.S. interest rates. Redemption of outstanding foreign bonds held
by U.S. residents increased by over
$100 million in the fourth quarter, with
maturing Australian, German, and Canadian bonds accounting for most of the
rise. Trading in other securities shifted
from net purchases of $90 million in
Changes in Net Foreign Assets and
Liabilities of U.S. Corporations*
Billion $
4
Total
3
-
Western Europe
-2
1965
1966
1967
1968
* Increase (+) represents rise in net foreign assets^and/or decline
in net foreign liabilities of U.S. corporations.
U.S. Department of Commerce, Office of Business Economics
1969
the third quarter to net sales of $35
million in the fourth. Investment in
Japanese stock, amounting to $85 million, was more than offset by net sales
of foreign securities to Canada and
Western Europe.
March 1970
such as items held in custody for customers, loans to finance U.S. exports
guaranteed or participated in by various U.S. Government agencies, claims
on foreigners reported by branches and
agencies of foreign banks in the United
States, and increases in claims of U.S.
U.S. securities
banks on Canadian residents. Foreign
Net foreign purchases of U.S. stocks assets of banks reported under the
dropped to $1,515 million in 1969 from Foreign Credit Restraint Program (part
$2,085 million in 1968 (table D3, line of which are included in the direct
6). After reaching a peak early in the investment account) increased only
year, these purchases fell off sharply; about $150 million in 1969; they had
in June and July, when Euro-dollar been reduced $610 million in 1968.
interest rates were at their highest level
Government Grants
and U.S. stock prices were weak, forand Capital
eign sales exceeded purchases. In October net foreign purchases spurted to
The outflow of U.S. Government
over $300 million, but then fell off grants and net capital transfers declined
again so that fourth quarter net foreign about $600 million in 1969 to $3,240
purchases amounted to $470 million
million (table Al, line 16). Grants and
Net foreign purchases of U.S. bonds additions to U.S. assets fell off to $5,070
(other than Treasury issues and those million last year, as compared with a
already discussed under special fi- $5,345 million outflow in 1968. Most of
nancial transactions and U.S. cor- the decline was in the second half of the
porate transactions) increased to $155 year.
million in 1969 from about $30 million
Receipts from loan repayments (other
in 1968 (table D3, line 5). In the than those included in special financial
fourth quarter these transactions transactions) increased about $140 milswitched back to net foreign purchases lion in 1969 to $1,335 million. In
of $80 million, from net foreign sales of addition, a $75 million principal repay$60 million in the third quarter.
ment on the British postwar debt was
received in 1969; the 1968 annual
Banking claims
payment was deferred.
Claims reported by U.S. banks
Changes in Government liabilities
shifted to an outflow of $530 million (other than marketable or convertible
last year from an inflow of $270 million securities and special financial transin 1968 (table 1, lines 37 and 38). actions) resulted in net inflows of $495
Most of the 1969 rise was in U.S. million last year as compared with net
dollar acceptance credits and collec- inflows of $315 million in 1968. Uneven
tions outstanding. Bank-reported claims quarterly movements reflected changes
fluctuated rather erratically during the in net receipts associated with military
year. Net reductions in claims in the sales contracts and with the military
first and third quarters alternated with offset agreements with Germany. Figlarger net increases in the second and ures for both the first and second quarfourth quarters. The $320 million rise ters included receipts from German purin claims in the fourth quarter was a chases of about $125 million in Treasury
shift of $530 million from net inflows securities under the 2-year agreement
of $210 million in the third quarter for offsetting foreign exchange costs of
(table 2, lines 37 and 38). Most of the American forces in Germany; that
fourth quarter outflow occurred in agreement expired in June 1969. In the
December, and was largely reversed fourth quarter, under a new agreement
in January. The rise in December, as for fiscal years 1970-71, the German
well as for the year as a whole, was Government made a 10-year loan of
mainly to Canada and Japan.
$75 million to the United States, and
Claims reported by U.S. banks in- a $315 million prepayment for military
clude transactions that are not under goods. This followed an $85 million
the Foreign Credit Restraint Program, prepayment in the third quarter.
SURVEY OF CUKKENT BUSINESS
March 1970
35
Table D2.—Uses of Funds Obtained Abroad by U.S. Corporations Through the Issue of
New Securities 1
[MiDions of dollars]
Line
Credits (+); debits (-)
[Lines in tables 1, 2, and 8 in which
transactions are included are indicated
in( )]
19 58
1QAR
1 New issues of securities (52) l
2,129
19 69
1QAQ r>
1,026
I
II
580
585
III
586
IV
378
I
II
401
150
III'
225
IV "
250
Uses of funds obtained abroad through
new issues of securities:
Additions to, and refinancing of,
direct investment (33)
Short-term claims reported by U.S.
residents other than banks (40)
Reductions in corporate liabilities
to foreign residents (54, 55)
Transfers
of funds to U.S. residents
(59) 2
2
3
4
5
-785
-611
-158
-973
-118
-374
-2
-369
-75
-510
-231
105
-161
—160
-15
-282
-321
-194
-190
-61
-190
-80
21
30
-108
—20
—50
-151
-2
-48
—15
-150
-62
» Preliminary.
' Revised.
1. New issues of securities sold abroad by U.S. corporations exclude securities issued by subsidiaries incorporated abroad
and also exclude funds obtained abroad by U.S. corporations through bank loans and other credits. However, securities issued
by finance subsidiaries incorporated abroad are treated as if they had been issued by U.S. corporations if the proceeds of such
issues are transferred to U.S. parent companies.
2. A (-) reflects a decline in foreign deposits and money market paper held in the United States.
NOTE.— Details may not add to totals because of rounding.
Table D3.—-Transactions in U.S. Securities Other Than Treasury Issues
[Millions of dollars]
Line
1
Increase in foreign assets (+)
(Transactions are included in
tables 1, 2, and 8, in line 52)
3 Investment by international and regional organizations in nonguaranteed U.S. Government agency bonds4
5
6
Other transactions
Bonds
Stocks
1968
1969 »
I
2
Total
New issues of securities
sold abroad
by U.S. corporations l
2
1968
4,360
3,033
2,129
1,026
118
336
2 2, 113
29
2
2, 084
1,671
156
1,515
1969
II
III
IV
I
839
1,116
1,115
1,290
1,373
337
393
930
580
585
586
378
401
150
225
250
-38
-41
78
119
184
-43
61
134
572
42
530
451
-8
459
793
7
786
788
37
751
230
103
127
107
-62
169
546
78
468
2
2
297
-12
2
309
II
III'
IV *
T
Revised.
*> Preliminary.
1. Proceeds from securities issued by finance subsidiaries incorporated abroad that are transferred to the U.S. parent
companies are treated as if they had been issued by U.S. corporations.
2. Excludes purchase of $210 million by a foreign company of stocks issued by the U.S. subsidiary. This purchase is
treated as a foreign direct investment in the United States.
NOTE.—Details may not add to totals because of rounding.
Continued from Page 28
developed countries, Schedule A, expenditures are estimated to have risen
18 percent last year, but an increase
of only 6 percent is planned for 1970.
In Schedule B countries, including the
United Kingdom, Japan, Australia,
and others, a 9 percent increase last
year is expected to be followed by a 15
percent gain in 1970. Affiliates located
in Schedule C countries, comprising
most of continental Western Europe
and South Africa, reported a 13-percent
increase last year but expectations are
for a much larger rise of 37 percent in
1970. This would bring total expenditures in Schedule C countries to $3.5
billion for the year, almost double the
amount spent in these countries as
recently as 1965.
One of the more interesting results of
this survey is the very large expansion
planned in Schedule C countries, where
controls on direct investment under the
OFDI program are most stringent. The
aim of the investment controls has, for
the most part, been to limit capital
outflows from the United States, not
to reduce expansion by foreign affiliates. To the extent that fixed asset
investment can be financed by borrowing abroad, growth in plant and
equipment spending is not limited by
direct investment controls under the
OFDI program. In fact, the ability of
U.S. companies and their affiliates to
raise money abroad has increased sub-
stantially in recent years with the
broadening of the European capital
market. The magnitude of the planned
increase in capital expenditures this
year, especially in Western Europe,
could be taken to reflect confidence on
the part of parent companies and
affiliates that sufficient funds will be
available to finance the investment
they see as necessary to respond to
growing markets. Alternatively, some
anticipation by the companies of an
easing of the OFDI program may be
inherent in the reported large expansion
plans. If credit conditions abroad are
very tight, and the OFDI program
remains unchanged, actual plant and
equipment expenditures in 1970 could
well be lower than now projected.
SUEVEY OF CURRENT BUSINESS
36
March 1970
Table 1.—U.S. International Transactions
[Millions of dollars]
1968
(Credits +; debits -)
Line
1 Exports of goods and services
2
Excluding transfers under military grants
- -
19€*t
1969
I
II
1969
IV
III
I'-
II '
IV*
III'
51, 432
50,594
n.a.
55,387
11, 988
11,751
. 13, 227
13 003
12, 836
12 610
13 382
13 230
ll 852
11 692
14 863
14 637
14 021
13 773
IK ooc
10 193
3
4
5
6
Merchandise, adjusted, excluding military *
Transfers under military sales contracts
Transfers under military grants net
Transportation
33, 598
1,427
838
2,924
36, 487
1,504
na
3,122
7,942
299
237
662
8.643
419
223
749
8 293
350
226
810
8 720
360
152
704
7 445
408
160
571
9 885
396
226
837
8 964
7
8
9
10
Travel
Fees and royalties from direct investments
Other private services
_
Other U S Government services
1,770
1,279
1,546
352
2,052
1,341
1,611
374
378
279
383
89
462
306
385
95
543
326
388
83
387
368
391
84
432
304
387
84
560
323
405
108
630
328
405
90
11
12
13
Income on U.S. investments
abroad:
Direct investments 2
_
Other private assets
U S Government assets
4,985
1,949
765
5,707
2,258
931
1,103
453
164
1,253
491
202
1,156
494
168
1,473
512
232
1,368
509
183
1,330
563
230
14
.
-
Imports of goods and services
15
16
17
Merchandise adjusted excluding military *
Military expenditures
Transportation
18
19
20
Travel
- - - Private payments for other services. .
U S Government payments for other services
21
22
Income on foreign investments
in the United States:
Private payments 2
U S Government payments
_
-
.._
------
- - - - -
23
24
Balance on goods and services (lines 1 and 14) __ _ _ .
Excluding transfers under military grants (lines 2 and 14)
25
26
Unilateral transfers, net ; transfers to foreigners ( — )
Excluding military grants
27
28
29
30
_
- _
Private remittances
Military grants of goods and services
Other U S Government grants *
U S Government pensions and other transfers _ _ _
.
31
Balance on goods, services, and unilateral transfers (lines 23 and 25, or 24
and 26) 3
00
Transactions in U S private assets net; increase in assets ( — )
33
34
35
36
Direct investments 2
Foreign securities newly issued in the United States
Redemptions
Other transactions in foreign securities
37
38
Claims reported by U.S. banks: *
Long-term
Short-term
39
40
Claims reported by U.S. residents other than banks: l
Long-term
Short-term
41
--
-
-
Transactions in U.S. Government assets, excluding official reserve assets,
net; increase i n assets ( — )
_ . _ _
360
248
888
1 348
567
194
339
826
430
385
414
93
1 661
619
305
-48,078
-53,314
-10,982
-11,942
-12,839
— 12,315
— 10,967
— 14,124
—14 300
13 922
—32, 972
-4,530
-3, 248
-35, 797
-4, 882
-3,464
-7,679
-1,102
-715
—8, 199
-1,116
-872
—8,459
-1, 143
-901
—8 635
— 1,169
-760
—7 335
—1,204
-677
—9 732
—1 208
—972
—9 150
—1 220
-963
9 580
—1 249
—852
-3, 022
-625
-749
-3, 372
-657
-712
-505
-156
-153
-751
-156
-141
-1,237
-157
-202
-529
-156
—252
-542
-164
—152
—872
-166
—147
-1 383
-164
—209
—575
—163
—204
-2, 231
-702
-3,654
-777
-498
-174
-523
-184
-584
-156
-625
-188
— 707
-185
-837
-192
—1,023
—188
—1 087
—212
3,354
2,516
n.a.
2,073
1,005
769
1,284
1,061
-4
-229
1,067
915
885
725
739
513
-279
—527
na
1 362
-3,703
-2,865
n.a.
-2,811
-894
—657
-980
-757
-934
—709
-895
-742
-786
-626
-1,086
—860
-875
—627
n.a.
—699
-753
—838
— 1,706
-406
-758
n.a.
-1,649
-405
-173
—237
-392
-92
-196
-223
-470
-91
-197
—226
-390
-122
-187
— 152
-453
-102
-161
—160
-366
-99
—198
—226
-561
-101
-197
—248
-328
-103
—202
na
—395
—102
-349
-739
112
304
-938
173
99
-347
-1,154
664
—5,157
-5,009
-874
-1,546
-1,348
-1,390
—1,300
-2,139
—779
—792
-3, 025
-1,659
495
-102
-3, 060
-1, 628
478
-230
-622
-392
100
-55
-964
-373
224
16
-1,012
-324
91
-43
-428
-570
80
-21
-958
-564
130
74
-1,087
—250
85
-230
-904
-497
80
-86
—112
-318
358
-89
329
-857
140
219
49
143
165
-79
4
-372
133
77
31
-588
131
255
-174
-960
-346
305
34
-298
-32
-609
-57
-88
-119
35
-82
-109
-81
-19
-3
244
183
12
34
-601
-180
189
-2,249
-2,217
-742
-716
-519
-272
-468
-727
-647
-375
42
43
Loans and other long-term assets 1 1
Foreign currencies and other assets
_.
-3, 713
72
-3, 476
55
-1, 171
131
-936
-99
-788
6
-818
34
-992
231
—986
-111
-702
-59
-796
44
45
Repayments on credits:
Scheduled
-Nonscheduled (including sales of foreign obligations to foreigners).
1,123
269
1,292
-87
256
42
317
3
207
55
342
169
250
44
336
34
268
4-154
46
Transactions in U.S. official reserve assets, net; increase in assets (—)-..
47
48
49
50
51
52
53
Gold
Convertible currencies
Gold tranche position in IMF.
-
-
---
_. ._
Transactions in foreign assets in the United States, net; increase in foreign
assets (U.S. liabilities) (+)
Direct investments 2
_
U S securities other than Treasury issues
Long-term liabilities reported by U.S. banks-
-6
439
* -11
-880
-1,187
904
-137
-571
-1,076
-48
-299
-686
-154
1,173
-1,183
-870
-967
814
-1,034
1,362
-401
-57
22
267
-426
-74
-474
-23
-137
-575
-364
56
-73
-31
-317
246
-228
-11
-442
-233
-695
1,083
-542
9,277
12,114
932
2,490
2,848
3,007
2,968
4,408
4,065
674
319
4,360
590
749
3,032
-675
251
839
56
5
1,116
175
23
1,115
119
41
1,290
240
237
1,373
-49
169
337
-176
139
393
-265
203
930
-185
673
750
593
48
154
43
165
269
10
236
344
202
148
-76
59
49
151
105
235
-30
56
57
Other liabilities reported by U.S. private residents other than banks:
Long-term.
._
_
Short-term
Nonmarketable liabilities of U.S. Government, including mediumterm securities and long-term obligations payable prior to maturity
only under special conditions: l
Associated with specific transactions
Other medium-term securities and long-term obligations
-138
2,010
164
-41
-47
273
-44
772
-43
409
-4
556
-76
95
26
--171
-2
-115
216
150
58
59
U.S. Treasury marketable or convertible bonds and notes 1 1
Deposits and money market paper held in the United States
-500
1,212
-167
8,412
-212
-425
-22
54
-152
1,131
-114
452
1
1,315
-39
4,154
152
3,506
-281
-563
-642
-2,963
-332
528
-442
-1,252
-896
-799
-17
54
55
60
Errors and omissions, net
'Revised.
» Preliminary.
n.a. Not available.
* Less than $500,000 (±).
fLines 50, 59, and 60 for 1968, total, II, III, and IV, include revisions made in September
1969 SURVEY.
1. Details for lines 3 and 15 are given in table 4; for lines 29, 42, 43, 56, and 57, in table 5;
for lines 37 through 40, in table 6; and for lines 58 and 59, in table 7.
2. Excludes undistributed profits of subsidiaries.
-395
3. Numerically equal to net foreign investment in U.S. national income and product
accounts.
4. Negative entry reflects repurchase of foreign obligations previously sold.
NOTE.—Details may not add to totals because of rounding.
Source: U.S. Department of Commerce, Office of Business Economics.
SURVEY OF CUEEENT BUSINESS
March 1970
37
Table 2.—U.S. International Transactions—Seasonally Adjusted
[Millions of dollars]
1968t
(Credits -f ; debits -)
Line
I
1 Exports of goods and services
Excluding transfers under military grants
-
2
g
4
g
7
g
10
jj
12
13
14
- -
Merchandise adjusted excluding military *
Transfers under military sales contracts
.
Transfers under military grants net
Transportation
_ -
_
Travel
- - Fees and royalties from direct investments
Other private services
Other U S Government services
Income on U.S. investments
abroad:
Direct investments 2
Other private assets
U S Government assets
_. .
.
-
--
Imports of goods and services
.
-
15
16
17
Merchandise adjusted, excluding military 1
Military expenditures
Transportation
18
19
20
Travel
Private payments for other services
U S Government payments for other services
21
22
Income on foreign investments
in the United States:
Private payments 2
.
U S Government payments
--
Balance on goods and services (lines 1 and 14)
_.
Excluding transfers under military grants (lines 2 and 14)
25
26
Unilateral transfers, net; transfers to foreigners ( — )
Excluding military grants
IV
II'
III'
IV *
13 570
13 344
12 805
12 653
12 079
11 919
14 480
14 254
14 801
14 553
7 941
305
237
717
8 395
353
223
731
8 879
406
226
757
8 383
364
152
720
7 478
414
160
621
9 599
'331
226
819
9 581
440
297
372
91
424
322
381
89
450
330
396
86
456
330
398
85
504
323
376
86
516
339
401
101
523
331
413
94
509
347
421
94
1 277
500
140
1 368
517
232
1 373
544
231
1 526
1 440
606
224
—11 571
—13 964
1 293
475
205
1 313
515
212
—11,827
—12 435
—12 352
—7 817
—1 102
— 785
—8 131
— 1 116
—786
—8 566
—1 143
—841
—8 458
1 169
—836
-763
— 157
— 168
—732
— 157
—163
—792
— 153
— 170
—499
—172
—556
—186
708
471
.
I'
12, 891
12, 668
. - - - — 11 463
-
Private remittances
_ ...
Military grants of goods and services
Other U S Government grants 1
.
_
U S Government pensions and other transfers
III
12, 171
11, 934
1 102
460
209
- --
.
23
24
27
28
29
30
.._
II
19 69
417
248
832
*591
245
—13 847
NA
14 661
9 829
*341
M A
850
13 932
—7 579
1 204
—744
—9 599
1 208
—878
—735
— 158
—247
—821
—164
— 166
—855
—168
—169
—605
—165
—570
—179
—709
—184
—893
—194
—1 058
197
—994
202
1,064
841
1,135
909
453
301
508
348
516
290
954
706
NA
729
—872
—635
—913
—690
—992
—766
—926
—774
—761
—601
— 1 019
—793
935
—687
NA
732
-184
—237
—359
—92
—183
—223
—416
—91
-203
—226
—441
— 122
-183
— 152
—489
— 102
—172
—160
—330
—99
— 185
—226
—507
—101
—204
—248
—380
—103
—197
NA
—433
102
—9 243
1 220
902
9 376
1 249
940
—890'
160
—177
—806
165
200
31
Balance on goods, services, and unilateral transfers (lines 23 and 25, or 24 and 26)3
—164
151
143
-473
—253
—503
19
—3
32
Transactions in U.S. private assets, net; increase in assets (— )
—806
—1,537
—1 868
947
—1 357
—2 051
—1 279
—324
-472
—393
100
— 19
—1,009
—350
224
—38
-1 262
—380
91
—48
-283
—537
80
2
-928
—564
130
111
— 1,057
—228
85
-284
—1 134
—551
80
—91
58
—286
183
34
140
96
49
194
165
—255
4
—124
133
—51
31
—532
131
79
34
—353
34
—293
—32
—575
—57
—122
— 119
30
—82
-106
—81
15
—3
210
— 180
186
-639
-527
-346
-463
-648
-657
-447
-949
-860
—765
—788
—1,008
—842
—783
287
42
307
3
278
55
250
169
281
44
326
34
339
-154
347
* —11
33
34
35
36
Direct investments 2 .
Foreign securities newly issued in the United States
Redemptions
Other transactions in foreign securities _ _
37
38
Claims reported by U.S. banks: 1
Long-term__
Short-term
39
40
Claims reported by U.S. residents other than banks: l
Long-term
Short-term
41
42
43
44
45
46
47
48
49
50
51
52
53
. __
.
. _. .
__
_
.
Transactions in U.S. Government assets, excluding official reserve assets, net; increase in assets
-738
(-).
Loans and other long-term assets l 1
[
-1,067
Foreign currencies and other assets
Repayments on credits:
Scheduled
Nonscheduled (including sales of foreign obligations to foreigners)
Transactions in U.S. official reserve assets, net ; increase in assets ( — )
Gold
Convertible currencies
Gold tranche position in IMF
_
_
......
Transactions in foreign assets in the United States, net; increase in foreign assets (U.S. liabilities)
(+).
Direct investments 2
U.S. securities other than Treasury issues .
Long-term libailities reported by U.S. banks
56
57
Other liabilities reported by U.S. private residents other than banks:
Long-term
Short-term
.
Nonmarketable liabilities of U.S. Government, including medium-term securities
and longl
term obligations payable prior to maturity only under special conditions:
Associated with specific transactions
Other medium-term securities and long-term obligations
.
58
59
U.S. Treasury marketable or convertible bonds and notes 1
Deposits and money market paper held in the United States L .
54
55
60
Errors and omissions, net
' Revised.
*> Preliminary.
*Less than $500,000(±).
n.a. Not available.
f Lines 50, 59, and 60 for 1968, II, III, and IV, include revisions made in September 1969
Survey.
Source: U.S. Department of Commerce, Office of Business Economics.
}
4
904
—137
-571
—1,076
—48
-299
-686
-154
1 362
—401
—57
22
267
—426
—74
—474
—23
—137
—575
—364
56
—73
—31
-317
246
-228
— 11
-442
—233
-695
1,083
-542
1,215
2,645
2,515
2,902
3,361
4,538
3,635
581
251
839
56
5
1 116
175
23
1 115
119
41
1 290
240
237
1,373
—49
169
337
— 176
139
393
—265
203
930
-185
154
43
165
269
10
236
344
202
148
-76
59
49
151
105
235
-30
—61
273
15
772
-107
409
15
556
-90
95
84
-171
-67
-115
237
150
—340
128
710
214
1,723
4, 187
3,294
-410
—480
309
-60
-1,239
-1,039
-1,034
348
1. Details for lines 3 and 15 are given in table 4; for lines 29, 42, 43, 56, and 57, in table 5; for
lines 37 through 40, in table 6; and for lines 58 and 59, in table 7.
2. Excludes undistributed profits of subsidiaries.
3. Numerically equal to net foreign investment in U.S. national income and product acounts.
4. Negative entry reflects repurchase of foreign obligations previously sold.
SURVEY OF CURRENT BUSINESS
38
March 1970
Table 3.—U.S. Balance of Payments and Reserve Position
[Millions of dollars]
1968
Line
1968
1969
I
II
1969
IV
III
lr
Amounts
out-
IV*
II'
III'
-3,888
-2,608
-72
364
115
-3,816
-2,972
998
standing
Decem-
ber 31,
19691
Balance on liquidity basis—measured by increase in U.S. official
reserve assets and decrease in liquid liabilities to all
foreigners:
1
Seasonally adjusted; decrease in net assets (—)_
—564
9
—139
862
—1,675
2
Less seasonal adjustment
—297
—96
269
124
-407
3
Before seasonal adjustment (lines 4 and 8, with sign reversed).
—267
105
-408
738
-1,268
4
U.S. official reserve assets (table 1 line 46); increase (— )
-571
-1,076
-48
-137
-575
—364
56
5
6
7
8
9
10
11
12
Gold.
Convertible currencies
IMF gold tranche position
Liquid liabilities to all foreigners (table 1, lines 58 and 59);
decrease ( — ) . _ _
To official agencies
To commercial banks 2 _
.
To other foreign residents and unallocated 3 _
To international and regional organizations
168
—7,058
-880
-1, 187
904
1 173
—1 183
—870
—967
814
—1 034
1 362
—401
712
8 245
—527
9 272
—437
-637
—1 358
—3 099
3 382
374
55
—63
—57
-137
22
267
—426
32
—74
-474
—23
1,113
-299
-686
-154
U6.964
—317
246
—228
-11
-442
-233
-695
1,083
-542
i 2, 781
4,115
-538
4,716
-145
82
3,658
2,239
1,554
-143
8
-844
-520
-132
-127
-65
23, 744
223
43
1,316
-1,708
3,134
-22
—88
338
487
-73
-31
103
—86
979
—38
954
44
19
—379
1,553
97
367
1,132
1,226
-927
1,281
—470
3
25
442
-579
21
116
442
1,711
1,205
638
4
79
—2 190
2,205
-415
11,859
2,324
41,876
13,001
4,472
659
Balance on official reserve transactions basis— measured by increase in U.S. official reserve assets and decrease in liquid and
certain nonliquid liabilities to foreign official agencies:
13
Seasonally adjusted; decrease in net assets (— )
14
Less seasonal adjustment. __
15
Before seasonal adjustment (lines 16 through 18, with sign
re versed) ... .
1,638
2,712
91
1,550
72
-75
-1,043
839
—880
—1 187
904
-137
—571
-1,076
-48
-299
-686
-154
116,964
Liquid liabilities to foreign official agencies (line 9);
decrease (— )
—3 099
—527
—1 358
—2, 190
-38
487
-1,708
-538
2,239
-520
13,001
18
Certain nonliquid liabilities to foreign official agencies;
decrease (— )
2 341
—998
363
777
537
664
45
-368
-510
-165
i 4, 150
19
Liabilities reported by U.S. private residents (table
1, portion of line 53)
535
—836
116
150
131
138
-43
-196
-391
-206
1,505
Liabilities reported by U.S. Government (table 1,
portions of lines 56 and 57)
1,806
-162
247
627
406
526
88
-172
-119
41
12,645
16
U.S. official reserve assets (line 4); increase (— )
17
20
p Preliminary.
1. Position figures reflect increases of $67 million in convertible currencies (line 6) and $84
million in nonliquid liabilities of U.S. Government (line 20), resulting from revaluation of
German mark in October 1969.
2. Includes deposits of foreign branches of U.S. banks and of foreign commercial banks,
associated with their U.S.-dollar denominated liabilities to foreign official agencies.
3. May include U.S. Government bonds and notes held by foreign commercial banks.
SURVEY OF CURRENT BUSINESS
March 1970
39
Table 4.—U.S. Merchandise Trade
[Millions of dollars]
Not seasonally adjusted
1968
Line
1969
1969
1968
I
II
Seasonally adjusted
III
IV
I'
1968
III' IV*
II'
I
II
1969
III
IV
I'
II '
HI' IV *
EXPORTS
1
2
Merchandise exports, Census basis, including reexports and
34,636 37,988 8,169 8,817 8,581 9,069 7,701 10,332 9,444 10,511 8,175 8,577 9,175 8,739 7,719 10,041 10,050 10,138
military grant shipments
34,063 37,314 8,022 8,705 8,425 8,911 7,561 10,151 9,261 10,341 8,028 8,465 9,019 8,581 7,578 9,861 9,867 9,968
Excluding military grant shipments
365
71
25
1
257
11
90
17
8
3
53
9
81
17
4
3
59
-2
86
16
11
1
55
3
82
25
8
1
61
-13
99
12
8
*
60
19
82
17
4
1
67
-7
89
16
5
*
62
6
828 1,208
797 1,177
31
31
170
162
8
164
157
7
214
206
8
280
272
8
262
254
8
377
370
7
326
318
8
21
-4
7
47
29
-60
339
75
31
8
228
-3
3 Additions "regular" to Census exports
Private gift parcel remittances
3a
Exports of the Virgin Islands
3b
Gold exports nonmonetary
3c
Inland freight valuation adjustment
3d
3e
Other "regular" additions l
4
4a
4b
Deductions "regular" from Census
exports _
DO D military export sales 23
Other "regular" deductions
-
5
5a
Special and miscellaneous adjustments (net) *
Of which: quarterly allocation of annual seasonal adjustment discrepancy 5
24
16
68
—7
90
17
8
3
53
9
81
17
4
3
59
-2
86
16
11
1
55
3
82
25
8
1
61
-13
105
12
8
*
66
19
76
17
4
1
61
-7
90
16
5
*
63
6
94
26
8
*
67
-7
243
235
8
170
162
8
164
157
7
214
206
8
280
272
8
262
254
8
377
370
7
326
318
8
243
235
8
-7
13
-12
57
39
-50
10
-7
-8
-8
10
10
10
10
95
26
8
—7
6
Equals: Merchandise exports, adjusted to balance of pay33,598 36,487 7,942 8,643 8,293 8,720 7,445 9,885 8,964 10,193 7,941 8,395 8,879 8,383 7,478 9,599 9,581 9,829
ments basis (table 1 line 3)
7
Merchandise imports, Census basis (general imports)
8
8a
8b
8c
Additions, " regular" to Census imports
Imports of the Virgin Islands
Gold imports, nonmonetary
Other "regular" additions 6
9
9a
9b
9c
IMPORTS
33,226 36,052 7,764 8,256 8,457 8,749 7,409 9,781 9,195 9,667 7,867 8,151 8,548 8,526 7,643 9,635 9,301 9,443
327
108
211
8
397
170
219
8
97
29
66
2
89
27
60
2
70
31
37
2
71
21
48
2
107
57
48
2
113
50
61
2
80
29
49
2
97
34
61
2
97
29
66
2
89
27
60
2
70
31
37
2
71
21
48
2
107
57
48
2
113
50
61
2
80
29
4
r
97
34
61
2
Deductions, "regular", from Census imports
DOD military import purchases. _ _
Automotive valuation adjustment
Other "regular" deductions 7
572
268
300
4
646
296
346
4
132
65
66
1
146
66
79
1
120
66
53
1
174
71
102
1
160
79
80
1
168
78
89
1
134
67
66
1
184
72
111
1
130
65
64
1
142
66
75
1
138
66
71
1
160
71
88
1
157
79
77
1
163
78
84
1
155
67
87
1
171
72
98
1
10
lOa
Special and miscellaneous adjustments (net) 4
Of which: quarterly allocation of annual seasonal adjustment discrepancy *
-9
-6
-50
52
-11
-21
6
9
-17
33
86
21
-14
14
17
7
33
33
34
33
7
8
8
7
11
Equals: Merchandise imports, adjusted to balance of pay32,972 35,797 7,679 8,199 8,459 8,635 7,335 9,732 9,150 9,580 7,817 8,131 8,566 8,458 7,579 9,599 9,243 9,376
ments basis (table 1, line 15)
12
Balance on merchandise trade, Census basis, excluding
military grant shipments (line 2 less line 7)
837 1,262
258
449
13
Balance on merchandise trade, adjusted to balance of payments basis (line 6 less line 11)
626
263
444 -166
_
_
690
-32
674
161
314
471
613
124
264
313
9,069 7,701 10,332 9,444 10,511
947 1,718 1,426 1,913
1,701
7,368 6,754 8,614 8,018 8,598
7,210 6,614 8,433 7,835 8,428
8,175
1,659
6,516
6,369
8,577
1,542
7,035
6,923
9,175
1,605
7,570
7,414
162
152
370
85
110
153 -186
66
55
-65
226
-75 -101
566
525
338
453
TRADE BY END-USE CATEGORIES
14
14a
14b
14c
Merchandise exports, Census basis, including military
34,636 37,988 8,169 8,817
grant shipments (table 4, line 1)
6,301 6,004 1,656 1,504
Agricultural products
28,335 31,984 6,513 7,313
Nonagricultural products
27, 762 31,310 6,366 7,201
Excluding military grant shipments
15
16
17
18
Foods, feeds, and beverages
Grains and preparations
Soybeans
Other foods, feeds, and beverages
19
20
Industrial supplies and materials
Fuels and lubricants
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
40a
41
4,813 4,687 1,270 1,141 1,071 1,332
2,822 2,516
632
672
687
831
134
822
810
183
171
323
1,182 1,350
305
256
298
322
8,739 7,719 10,041 10,050 10,138
1,495
958 1,762 1,581 1,688
7,244 6,761 8,279 8,469 8,450
7,086 6,620 8,099 8,286 8,280
769 1,298 1,114 1,506 1,288 1,150 1,191 1,185
735
741
377
679
663
819
667
660
134
194
376
178
118
198
217
217
396
258
293
308
363
333
271
307
782 1,309 1,232 1,335
704
702
751
365
193
253
202
143
274
356
337
378
11,006 11, 758 2,480 2,801 2,969 2,756 2,122 3,253 3,102 3,281 2,529 2,780 3,007 2,698 2,172 3,220 3,125 3,214
312
1,052 1,133
224
266
269
299
212
312
266
309
296
313
257
270
258
243
260
Paper and paper base stocks
828
906
Textile supplies and materials
1,022
922
Raw cotton, including linters
466
285
Tobacco, unmanufactured.
.
524
540
Chemicals, excluding medicinals
2,764 2,742
Other nonmetals (hides, tallow, minerals, wood, rubber,
2,267 2,386
tires, etc.)-Steelmaking materials
.
275
371
Iron and steel products
741 1,126
Other metals, primary and advanced, including advanced
steel .1,533 1,632
Capital goods, except automotive . .-. Machinery, except consumer-type
Electrical and electronic, and parts and attachments. ..
Nonelectrical, and parts and attachments
.Construction machinery and nonfarm tractors and
parts
Textile and other specialized-industry machinery
and parts
Other industrial machinery and parts, n.e.s
Agricultural machinery and farm tractors and parts _
Business and office machines, computers, etc., and
parts
.
Scientific, professional, and service-industry equipment
Civilian aircraft, engines, parts
Civilian aircraft, complete — all types
Other transportation equipment
8,581
1,440
7,141
6,985
11, 072
8,642
1,557
7,085
182
295
165
101
611
209
274
126
108
709
229
244
100
154
774
209
209
75
161
669
166
152
29
50
525
247
310
130
142
777
237
228
71
134
734
256
232
55
214
706
182
267
138
135
624
206
285
140
138
693
232
281
125
143
761
207
193
67
115
681
167
145
23
67
538
243
322
145
179
757
239
257
88
124
717
255
217
50
154
719
535
56
157
575
65
174
592
76
189
564
78
220
490
42
185
645
95
275
611
130
292
640
104
374
524
73
158
561
58
173
622
66
202
560
81
207
481
54
186
627
85
272
640
112
310
638
109
353
318
417
412
386
300
450
440
442
309
400
430
396
291
426
460
457
12, 322 2,649 2,909 2,733 2,781 2,776 3,263 3,001 3,282 2,595 2,766 2,956 2,776 2,732 3,096 3,228 3,275
9,992 2,037 2,263 2,156 2,186 2,111 2,709 2,511 2,661 2,020 2,157 2,319 2,162 2,104 2,574 2,687 2,636
507
390
399
477
478
405
386
401
1,857
366
401
497
474
485
363
416 ' 391
8,135 1,671 1,858 1,770 1,786 1,710 2,212 2,037 2,176 1,657 1,767 1,903 1,771 1,705 2,097 2,180 2,158
1,526 1,680
326
397
409
393
321
469
434
456
328
379
423
397
325
447
446
463
709
795
3,062 3,476
412
417
163
73
115
188
822
116
174
754
92
184
752
90
162
739
98
215
961
133
199
870
95
219
906
91
172
731
105
178
783
96
186
808
108
174
741
108
171
741
90
202
912
110
211
929
110
208
897
109
900 1,226
217
209
226
245
265
287
308
366
207
211
253
232
254
289
342
343
137
491
279
31
142
514
213
27
138
608
322
31
541
476
2,327 2,209
1,405 1,241
121
103
116
587
352
25
126
613
372
33
115
557
334
20
119
570
346
25
125
638
427
27
147
519
279
35
131
465
213
25
138
587
322
34
114
546
352
29
120
580
372
29
125
614
334
23
119
591
346
23
124
597
427
31
SURVEY OF CURRENT BUSINESS
40
March 1970
Table 4.—U.S. Merchandise Trade—Continued
[Millions of dollars]
Not seasonally adjusted
1968
Line
1968
1969
I
II
3,888
2,736
1,152
1,023
531
793
534
259
280
97
2,038 2,334
2,334 2,596
890 1,018
1,344 1,451
Seasonally adjusted
1969
IV
III
I'
1968
III' IV*
II '
935
646
289
247
115
706 1,019
461
737
244
282
154
301
99
122
922 1,056
734
677
245 322
276
253
160
111
416
573
452
597
535
528
207
302
615
235
353
611
221
366
580
228
324
563
220
308
I
II
1969
IV
III
I'
II'
III' IV P
42
43
44
45
46
47
Automotive vehicles, parts, and engines
To Canada
-- ----- _
... .
To all other areas
Passenger cars, new and used
Trucks buses and special vehicles
Parts, bodies, and accessories, including engines and
parts n e e
3,453
2,378
1,074
982
432
48
49
50
51
Consumer goods (nonfood) , except automotive
.
Consumer durables manufactured
Consumer nondurables, manufactured- _
..
Unmanufactured consumer goods (gem stones, precious
and nonprecious)
127
20
27
24
28
35
30
27
35
20
25
29
27
32
27
32
35
52
Special category, domestic (military-type goods)
1,110 1,650
257
201
285
368
337
485
470
358
257
201
285
368
337
485
470
358
53
54
55
Exports n e e . , and reexports
Domestic (low-value, miscellaneous)
Foreign (reexports)
849 1,087
543
414
544
435
192
93
100
216
107
109
208
100
108
233
114
119
212
95
117
266
125
141
250
111
139
359
212
147
198
96
102
202
100
102
216
104
112
233
112
121
219
99
120
249
118
131
258
116
142
361
209
152
57
58
59
60
61
Foods feeds and beverages
Coffee cocoa, and sugar Green coffee
Cane sugar
Other foods, feeds, and beverages
62
63
Industrial supplies and materials
Fuels and lubricants
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
81
82
83
84
85
85a
_ _
-
- -
780
517
263
261
99
885
608
277
248
104
879
612
267
246
106
904
637
267
228
126
911
661
250
258
113
997 1,046
690
759
307
287
254
300
144
136
942
642
300
230
135
643
527
629
420
533
527
550
540
599
610
577
711
284
397
663
263
373
659
251
373
528
206
302
593
223
345
641
238
374
575
226
322
566
222
312
685
270
388
691
281
378
653
247
371
33,226 36,052 7,764 8,256 8,457 8,749 7,409 9,781 9,195 9,667 7,867 8,151 8,548 8,526 7,643 9,635 9,301 9,443
Merchandise imports, Census basis (table 4, line 8) - . .
56
99
844 1,066
578
747
266
319
190
304
127
133
-
-
5,271 5,239 1,186 1,301 1,438 1,345
444
1,916 1,700
495
541
437
894
325
1,140
289
258
268
189
638
161
640
109
181
3,355 3,539
902
749
806
898
994 1,433 1,327 1,485 1,222 1,320 1,430 1,275 1,048 1,449 1,311 1,414
283
512
477
428
446
502
512
450
300
481
400
527
154
243
209
267
283
325
145
288
256
204
260
290
92
152
174
198
179
170
150
159
130
189
140
169
956
973
776
711
899
818
825
748
918
968
911 887
.-. _ . 14, 159 14,163 3,511 3,593 3,571 3,484 3,033 3,916 3,606 3,608 3,528 3,491 3,559 3,518 3,116 3,791 3,577 3,657
664
675
632
651
700
2,509 2,777
657
738
599
593
664
568
642
649
693
674
759
Paper and paper base stocks
Materials associated with nondurable goods and farm
output
Textile supplies and materials
Tobacco unmanufactured
Chemicals, excluding medicinals
Other (hides, copra, materials for making photos,
drugs dyes)
1,431 1,595
337
378
336
380
356
403
401
436
352
370
337
364
378
393
397
422
2,749 2,658
1,180 1,142
117
148
708
689
735
300
81
172
690
303
24
175
664
301
10
171
660
277
34
171
588
249
29
145
796
339
56
206
649
293
19
178
625
261
12
179
660
281
43
172
663
292
20
161
730
310
47
179
701
293
50
176
554
239
16
148
757
326
45
189
735
295
88
185
662
280
18
186
183
188
181
179
165
195
159
173
164
190
194
182
151
197
167
178
Building materials except metals
Materials associated with durable goods output, n.e.s. ..
Steelmaking materials
Iron and steel products
-Other metals, primary and advanced, including advanced steel
Nonmetals (gums, oils, resins, minerals, rubber, tires,
etc )
241
216
292
312
282
366
299
241
264
1,072 1,187
253
238
319
266
327
343
255
6,398 5,946 1,566 1,704 1,647 1,481 1,108 1,687 1,582 1,568 1,676 1,627 1,586 1,462 1,217 1,605 1,505 1,559
110
192
161
190
213
673
649
209
85
168
173
133
154
161
179
148
149
198
613
604
544
473
2,123 1,914
324
419
556
487
525
565
492
535
278
539
569
496
732
691
2,734 2,362
832
751
591
560
529
651
584
598
831
720
612
552
541
619
597
596
869 1,021
205
205
234
225
215
271
264
270
204
203
236
223
218
268
262
269
2,825 3,331
Capital goods except automotive
2,637 3,154
Machinery except consumer-type
870
700
Electrical and elcetronic, and parts and attachments. ..
1,938 2 284
Nonelectrical and parts and attachments
Construction, textile and other specialized-industry
460
502
machinery and nonfarrn tractors and parts
883
738
Other industrial machinery and parts, n.e.s
347
337
Agricultural machinery and farm tractors and parts Business and office machines, computers, etc., and
225
339
parts
Scientific, professional and service-industry equip
ment and parts; and miscellaneous transportation
212
178
equpiment
-- 177
188
Civilian aircraft, engines, parts. .
109
110
Civilian aircraft, complete —all types
677
632
153
479
691
645
164
481
703
664
180
484
753
696
202
494
674
628
187
441
925
883
230
652
860
817
223
594
872
826
230
596
691
646
159
487
671
625
168
457
722
683
181
502
749
692
191
501
681
635
191
444
898
856
235
621
881
838
224
614
870
824
217
607
111
171
106
108
192
83
119
187
78
122
188
71
89
170
77
148
247
114
133
241
74
132
225
82
113
180
100
105
189
67
119
184
93
126
187
82
89
177
73
145
242
94
132
237
87
136
225
93
50
55
54
65
63
8
90
99
50
52
62
60
62
85
104
93
41
45
24
44
47
25
46
39
18
46
57
41
41
46
29
55
43
24
57
43
29
59
46
28
44
45
24
44
46
25
44
39
18
46
57
41
43
46
29
55
43
24
54
43
29
60
46
28
4,295
2,619
2,819
1,676
2,796
479
5,346
3,494
3,148
1,852
3,368
722
992 1,077
595
657
629
578
420
397
632
729
109
99
888 1,337 1,145 1,453 1,175 1,573
712 1,097
800
885
490
876
986
774
720
796
646
463 476
461 345
568
730
962
980
853
698
581
160
153
173
251
158
98
250
209
898 1,034 1,116 1,245 1,055 1,394 1,478 1,470
614
559
645
782
757
936
987
825
495
589
680
889
694
849
741
574
542
483
339
420
471 463
298
569
754
563
690
92
910
800
631
948
214
103
121
145
16
200
10
148
86
87
88
89
90
91
92
Automotive vehicles, parts, and engines
..
From Canada
From Canada transactions value
From all other areas
Passenger cars, new and used__
_.
._
Trucks buses, and special vehicles
Parts, bodies, and accessories, including engines and
parts n e s
9
9
9
9€
5,330 6,503 1,095 1,25 1,517 1,461 1,25 1,678 1,843 1,730 1,209 1,303 1,379 1,392 1,406 1,736 1,67 1,655
Consumer goods (nonfood), except automotive884
954
732
632
610
716
634
87
965
655
899
89
786
787
728
548
Consumer durables, manufactured
..
. . 2,754 3,422
624
631
737
495
507
522
537
66
63
424
47
519
47
645
2,OOS 2,48C
476
59
Consumer nondurables, manufactured
140
153
140
140
144
141
153
153
142
14
163
128
168
601
123
14
156
567
Unmanufactured consumer goods (gems, nursery stock)
9
Imports, n.e.s. (low value, goods returned, military aircraft, Government purchased uranium, movies, exhibits)
1,020 1,255
1,34
146C
302
249
33
p Preliminary.
1. Mainly includes net additions or liquidations of U.S.-owned grains into or out of storage
in Canada; and exports of electrical energy.
2. Reflects exports of military equipment under Department of Defense (DOD) sales contracts with foreign governments to the extent such exports are identifiable from Census export documents; these exports are contained in table 1, line 4 (Transfers under military sales
contracts).
3. Mainly includes exports of exposed motion picture film for rental rather than sale; and
exports to Panama Canal Zone.
4. Reflects irregular and occasional special adjustments: valuation adjustments for goods
considered to be underpriced or overpriced in Census data; timing adjustments for goods
recorded in Census data in one period but found to have been shipped in another; and cover-
£
339
311
369
294
31
315
37
285
383
361
399
234
319
241
332
241
342
297
347
279
33
304
36
330
384
346
377
age adjustments for special situations in which shipments were omitted from Census data.
5. To correct total exports (and total imports) for discrepancy between seasonally adjusted
sum of four quarters and recorded, unadjusted annual figures.
6. Mainly imports of electrical energy.
7. Consists mainly of foreign charges for repair of U.S. vessels abroad, which are included
in tables 1,2, and 8, line 17 (Transportation); imports from Panama Canal Zone; and imports
of domestically owned grains returned from storage in Canada.
NOTE.—Details may not add to totals because of rounding.
Source: U.S. Department of Commerce, Office of Business Economics.
SURVEY OF CUREENT BUSINESS
March 1970
41
Table 5.—Major U.S. Government Transactions
[Millions of dollars]
1968
Line
1968
1969 P
I
A. 1
la
U.S. Government grants (excluding military) and transactions increasing Government assets,
total (table 1 lines 29 42 and 43 with sign reversed)
Seasonally adjusted
- -
5,347
5,070
II
1969
III
IV
1
II
III'
1,658
1,515
1,088
1,198
1,222
1,216
328
39
4
1,433
1,505
1,172
1,426
1,236
1,365
1,301
1,127
1,254
1,118
IVp
By category
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
1,706
558
-71
1,649
432
-101
392
388
-134
470
78
66
390
32
10
453
60
-14
366
295
-231
561
52
118
558
196
135
3
32
334
205
145
2
10
261
49
37
1
6
170
47
31
1
10
61
47
33
2
12
66
53
34
3
36
50
30
1
6
180
56
41
(*)
59
48
37
1
3
58
51
38
1
1
225
465
5
300
127
3,029
-1
147
313
12
326
184
2,860
46
54
368
2
63
38
745
3
52
53
1
86
45
814
33
50
16
1
79
17
739
-16
69
28
1
72
28
731
-21
36
254
1
62
22
676
(*)
36
32
2
89
55
879
-7
40
13
1
90
50
612
54
36
15
7
85
57
694
(*)
1,260
Under farm product disposal programs
2,145
Under Foreign Assistance Acts and related programs _
1,517
Under Export-Import Bank Act
- Capital subscriptions to international and regional organizations, excluding IMF..
127
232
Other assistance programs
--362
Other foreign currency assets acquired (lines A 6 A 7, and A. 9)
300
Less foreign currencies used by U.S. Government other than for grants or credits (line A.13) _
Advances under Exchange Stabilization Fund agreements, net _ _ _
-5
Other (including changes in administrative cash holdings), net
9
1,155
2,152
1,258
184
256
360
326
(*)
32
405
516
370
38
74
92
63
-1
2
419
572
382
45
64
88
86
-1
24
181
538
394
17
36
93
79
-1
-6
255
519
371
28
58
90
72
-1
-11
199
487
337
22
62
86
62
(*)
-3
505
655
366
55
82
98
89
182
483
272
50
52
87
90
269
527
284
57
60
90
85
-14
50
4,705
3,331
855
554
148
116
4,319
3,102
784
535
147
88
1,296
947
219
115
37
46
1,300
897
235
175
32
33
1,050
753
199
130
34
19
1,059
734
202
133
45
19
962
627
198
162
30
11
1,452
1,081
239
160
42
27
897
650
160
109
37
31
Grants net
Credits repayable in foreign currencies
Other foreign currency assets (excluding administrative cash holdings), netReceipts from—
Sales of agricultural commodities _
- - - - Interest
- - - Repayments of principal
Reverse grants
Other sources
Less disbursements for—
Grants in the recipient's currency
- - Credits in the recipient's currency
- - - - Other grants and credits
Other U S Government expenditures
Capital subscriptions to international and regional organizations, excluding IMF
Credits repayable in U S dollars
- O ther assets (including changes in administrative cash holdings) , net
- .-
(<>
395
46
7
By program
17
18
19
20
21
22
23
24
25
By disposition 1
26
27
28
29
30
31
32
33
34
B. 1
la
2
2a
3
U.S. Government liabilities associated with specific transactions (table 1, line 56); net increase (+)
-
2
-12
-5
15
-6
-2
—4
-8
300
326
63
86
79
72
62
89
90
85
641
751
136
205
123
177
165
206
191
190
-43
-4
164
-138
Seasonally adjusted
Associated with military sales contracts
5
_ _ - _ _
1,008
744
187
105
38
19
-137
178
(*)
(*)
15
-76
26
-2
-107
'84
-67
216
r-90
-60
31
-70
-2
11
240
-47
-44
-61
15
-22
237
-28
6
27
'-76
'-63
-47
238
4
5
6
U.S. Government receipts from foreign governments (including principal repayments
on credits financing military sales contracts) , net of refunds
Plus military sales contracts financed by U.S. Government credits 6 (line A. 29)
Less U.S. Government receipts from principal repayments _
Less transfers of goods and services (including transfers financed by credits) (table 1,
Iine4)
-85
-141
974
554
238
1,453
535
305
185
115
24
282
175
99
142
130
8
365
133
107
242
162
67
322
160
87
298
109
35
591
105
117
1,427
1,504
299
419
350
360
408
396
360
339
7
Associated with U.S. Government grants and transactions increasing Government assets
(lineA.32)
2
-12
7a
8
9
10
11
12
13
13a
14
15
16
C.
Estimated transactions involving no direct dollar outflow from the United States _ _
Expenditures on U S. merchandise
- - - - Expenditures on U S services ^
Military sales contracts financed by U.S. Government credits 3 * (line
B.4)
U S Government credits 3to repay prior U.S. Government credits 2_ ... .-.
...
U S Government credits to repay prior U.S private credits
Increase in claims on U.S. Government associated with Government grants and transactions increasing Government assets (including changes in retained accounts) (line
B.7)
Less foreign currencies used by U.S. Government other than for grants or credits (line
A 13)
Estimated dollar payments to foreign countries and international and regional organizations
through U.S. Government grants and transactions increasing Government assets.
1
2
3
4
Seasonally adjusted
Seasonally adjusted
Non-interest-bearing securities issued to IDA
Non-interest-bearing securities issued to IDB
Non-interest-bearing securities issued to U.N. for special programs
Foreign funds retained in U.S. Government accounts for purchases in the United States.
Other
-2
-4
-8
-5
15
-6
-2
-4
-8
8
8
(*)
(*)
-24
—1
-30
6
-5
15
-6
2
-11
(*)
-5
(*)
15
-6
(*)
-2
(*)
-4
C)
-7
(*)
-3
-3
-19
1
49
-2
-21
-30
31
-4
28
-30
46
-19
-10
35
Purchase of Columbia River downstream power rights
U.S. Government nonmilitary sales and miscellaneous operations
Nonmarketable U.S. Government obligations to be liquidated against U.S. claims
-33
-10
-30
-3
1
-2
35
-11
-2
Foreign holdings of nonmarketable medium-term U.S. Government securities and U.S.
Government long-term obligations, payable before maturity only under special conditions,
not associated with specific transactions (table 1, line 57) ; net increase (+)
.
Export-Import Bank Portfolio Certificates of Participation
German Government 10-year loan to U.S Government
7
U.S. Treasury securities not included elsewhere
2.010
47
-41
-71
75
-46
Associated with other specific transactions
Seasonally adjusted
.
..
_
r
p Preliminary.
Revised.
*Less than $500,000 (±).
1. The identification of transactions involving direct dollar outflow from the United States
is made by the operating agency. Data for third and fourth quarters 1968 and for all quarters
1969 are based on extrapolations by OBE.
2. Line A.28 includes foreign currency collected as interest and line A.30 includes foreign
currency collected as principal, as recorded in lines A.6 and A.7.
3. Includes some short-term U.S. Government claims, net of collections.
4. Consists of transfers of military goods and services financed by U.S. Government credits
and of advance payments to the Defense Department (on military sales contracts) financed by
credits extended to foreigners by U.S. Government agencies.
5. Transactions under military sales contracts are those in which the Defense Department
-
(*)
1.963
-27
-6
41
-13
-3
-17
1
51
-2
273
48
772
(*)
409
556
(*)
95
-10
-171
-45
-115
-15
225
773
409
556
105
-126
-100
150
(*)
75
75
sells and transfers military goods and services to a foreign purchaser, on a cash or credit basisThe entries for the several categories of transactions related to military sales contracts in this
and the other tables are partially estimated from incomplete data.
6. Consists of transfers of military goods and services financed by U.S. Government credits
(included in line B.6) and of increases in Defense Department liabilities (on military sales
contracts) which arise from advance payments to the Defense Department financed by credits
to foreigners by U.S. Government agencies.
7. Includes securities payable in U.S. dollars and in convertible foreign currencies.
NOTE.—Details may not add to totals because of rounding.
Source: U.S. Department of Commerce, Office of Business Economics.
SUKVEY OF CUEEENT BUSINESS
42
March 1970
Table 6.—Claims on Foreigners Reported by U.S. Banks and U.S. Private Residents Other Than Banks
[Millions of dollars]
19!68
I
Amounts
outstanding
December 31,
1969
II
III
IV
IT
iv*
Illr
II r
Claims reported by U.S. banks.
A.
1
Long-term (table 1, line 37, with sign reversed)
2
- - - -
8
Short-term (table 1, line 38, with sign reversed)
9
10
11
12
13
14
15
U S -dollar loans
Canada
United Kingdom
European Economic Community _
Other Western Europe
Japan
Other countries
16
17
18
19
20
21
22
U.S.-dollar acceptance credits
Canada
United Kingdom
European Economic Community
Other Western Europe
Japan
Other countries
23
24
25
26
27
28
29
U S -dollar collections outstanding
Canada
United Kingdom
European Economic Community
Other Western Europe
Japan
Other countries
_
30
31
32
33
34
35
36
37
38
39
40
41
42
43
Other claims in U.S. dollars _
. .
Canada
.
United Kingdom
European Economic Community
Other Western Europe
Japan
Other countries
Foreign currency deposits and other claims
Canada
-- --United Kingdom
European Economic CommunityOther Western Eiiybpe
Japan
Other countries
1
2
3
4
5
6
7
g
.
Canada
United Kingdom .
European Economic Community
Other Western Europe
Japan
- -Other countries
3
4
5
6
7
B.
19(59
1969
1968
Line
..
.._
Of which' Deposits and money market assets
U.S.-dollar claims reported by major U.S. corporations
Foreign currency claims.
Canada
United Kingdom
.
European Economic Community
Other Western Europe
Japan
Other countries
17
18
19
20
21
22
23
24
25
-58
—71
89
857
13
-33
59
—44
-79
-121
-121
-140
-12
-2
-38
-12
-8
—68
-49
—165
—4
-133
-31
—131
2
11
-21
-48
-20
27
1
6
—49
—46
-16
—61
10
-13
-15
— 14
31
—28
-1
4
-6
-8
—94
—2
—13
1
10
—13
— 14
5
1
—18
—48
—8
—63
—34
3,238
403
55
149
251
86
(*)
1
43
—46
—7
—25
2 294
-219
-143
79
372
-77
588
—255
601
9,629
109
53
31
75
29
76
— 155
—119
-20
29
—61
-37
(*)
—30
10
-17
(*)
28
-15
—42
56
156
17
15
26
—7
43
62
-34
-13
15
—37
-20
—12
33
41
3
—7
11
25
66
-57
119
38
-2
35
8
—47
87
-232
181
40
35
15
7
58
26
3 280
19
6
-15
— 15
—109
—45
314
26
18
21
— 10
46
213
-22
9
4
-14
—5
7
-23
-195
1
—3
1
-15
-88
-91
—51
3
3
-11
—8
— 111
73
109
6
2
9
13
83
-4
-78
4
—2
4
—25
-104
45
291
10
4
14
10
212
41
—94
3
9
2
2
3,202
31
195
9
7
1
3
79
96
181
6
13
11
5
71
75
219
6
9
30
14
118
42
78
6
3
—3
—7
48
31
—15
-1
1
4
-2
-34
17
6
-3
5
1
5
—5
3
112
4
4
9
9
62
24
-99
6
—3
—5
-6
-20
-71
117
—2
4
27
6
7
75
109
1
4
—8
3
89
20
92
1
4
16
11
42
18
1,954
42
-30
23
—5
-11
8
57
12
—36
—27
31
12
(*)
32
148
161
16
—8
4
-20
—5
67
39
26
2
-8
6
2
-57
-18
— 19
-24
-7
7
4
-99
-61
-20
-20
(*)
-3
5
57
2
26
9
-1
-2
23
(*)
-19
2
5
-1
(*)
13
—52
-24
— 16
—1
(*)
-12
1
20
8
—5
(*)
5
3
9
94
10
32
11
—3
15
29
91
36
—4
46
8
(*)
5
58
94
20
— 17
2
-3
—38
1
42
2
-37
-3
(*)
-3
-41
-44
2
1
3
-9
6
102
55
9
22
2
8
6
20
1
21
-6
5
-58
-82
—1
26
3
-6
2
111
110
—27
14
(*)
-8
22
22
24
16
-9
-10
4
-3
675
338
98
24
14
74
127
518
167
61
122
25
44
99
174
346
-34
32
57
119
82
81
3
U80
61
99
3
47
(*)
-36
73
8
-11
50
13
213
9
-2
-4
6
-1
-42
15
-9
(*)
24
2
(*)
31
10
5
20
-3
-6
6
100
2
-3
2
12
13
27
-12
49
-3
8
15
-7
16
9
17
31
17
-1
-1
-4
1
-9
28
-11
-14
-4
-2
183
1,003
960
—305
298
609
88
-35
109
19
-189
3,985
208
752
—7
431
135
10
23
160
-238
-67
154
-258
-28
24
21
20
-29
327
-45
319
49
16
-6
-6
106
503
58
430
32
-18
-3
4
24
64
-58
-76
74
43
20
61
107
-142
38
-242
-20
-31
12
101
-114
223
164
92
-44
26
-7
-8
-6
25
-30
-70
103
19
13
-10
409
32
-224
227
-59
-193
-321
1,389
-193
-31
37
-220
-17
-30
-2
8
165
62
183
85
-41
7
-5
-2
-125
66
-20
-78
73
-6
-1
-27
-147
-189
-132
1,010
11
-92
57
126
20
58
-159
---
-329
-25
-12
30
-90
-36
— 196
121
Short-term (table 1 line 40 with sign reversed)
Reported by brokerage concerns
Reported by others
_
Canada
United Kingdom
European Economic Community
Other Western Europe
Japan
Other countries
1
12
— 11
Claims reported by U.S. private residents other than banks:
Long-term (table 1 line 39 with sign reversed)
Canada
United Kingdom
European Economic Community
Other Western Europe
Japan
Other countries ._
9
10
11
12
13
14
15
16
-358
497
-346
280
821
176
-19
367
109
12
-10
38
-296
-50
169
-378
-81
-9
-7
-40
265
15
-29
246
45
8
(*)
10
46
359
(*)
-10
15
-153
185
-73
-18
81
35
2
5
-43
-258
132
328
-22
-74
27
26
-59
-118
402
—28
5
14
— 11
—1
-211
-141
—1
(*)
-244
-99
-145
-84
-41
-26
-11
9
8
-46
-90
-63
-32
-6
1
-13
-19
-170
104
-239
-61
-10
6
30
219
150
217
188
570
1 936
96
61
45
155
1,800
1,045
24
38
134
88
884
786
1
2,398
747
156
86
264
142
278
3,707
733
952
530
248
226
1,018
-81
-4
-2
2
379
479
627
113
13
62
95
99
137
294
747
96
-332
Memorandum items:
26
27
^Preliminary.
U.S.-dollar deposits in Canadian banks:
As reported by major U.S. corporations other than
banks (included in line B. 18)
As reported in Canadian banking statistics
*Less than $500,000(±).
1. Lines B-l—B-25 are based on partial data.
-44
7
SURVEY OF CURRENT BUSINESS
March 1970
43
Table 7.—U.S. Liquid Liabilities to Foreigners
[Millions of dollars]
1968
1 Liquid liabilities to all foreigners (table 1, lines 58 and 59; table 3,
lines 8 through 12).
._.
2
To foreign official agencies
3
4
5
6
Central banks and governments
Demand deposits..
Time deposits 1
Other private obligations, mainly money market
paper *
7
U.S. Treasury obligations:
Short-term securities and other obligations
Payable in U.S. dollars.
Payable in foreign-currencies _ .
g
9
10
11
12
13
14
Bonds and notes, mar/ketable
_
Bonds and notes, nonmarketable, convertible.. .
Payable in U.S. dollars..
Payable in foreign currencies
International Monetary Fund 2
15
To foreign commerical banks
15a
Seasonally adjusted
15b
16
17
18
19
20
To foreign branches of U.S. banks *
Demand deposits
Time deposits *
Other private obligations, mainly money market paper 1
U.S. Treasury short- term securities
To other foreign residents and unallocated
21
22
23
Demand deposits
Time deposits 1
Other private obligations, mainly money market
paper 1
24
25
U.S. Treasury obligations:
Short-term securities
Bonds and notes
26
To international and regional organizations not included
above
27
28
29
Demand deposits
Time deposits 1 . ...
Other private
obligations, mainly money market
paper 1
30
31
U.S. Treasury obligations:
Short-term securites
.
Bonds and notes
_
._
1969 P
II
IV
III
II'
I"
IVp
IIP
41,876
712
8 245
—637
32
979
338
1,316
4,115
3,658
-844
—3 099
—527
— 1 358
—2 190
—38
487
— 1 708
—538
2 239
—520
13,001
—3 096
95
—558
-1 366 —2 179
—516
—2
—231
51
•*-333
1 042
— 184
-38
-106
25
487
152
—66
-1, 709
-137
-23
-535
25
111
2,248
-44
136
-520
-75
818
11, 982
1,918
2,941
—263
161
1,097
2 139
-398
1,920
2,076
—156
-2,081
-2, 051
-SO
4,046
3,844
202
-67
-212
383
555
—56
818
69
35
—33
—117
—177
-2, 188
— 2 $9
311
-1,903
— 1 642
—261
-884
-949
65
-2,036
-2, 036
151
-36
187
581
522
59
-1,344
-1, 269
-75
-379
-10
-359
100
8
(*)
-26
-49
-2
-61
-3
-25
(*)
-10
-10
-79
-163
—25
-1S8
100
(*)
-49
-61
-25
-10
-9
84
-25
109
—3
—11
8
1
-3
—9
3,382
9,272
—11
(*)
-398
-212
555
1,019
-132
638
2,205
954
—415
3,134
4,716
1,554
457
2,297
702
-74
2,954
4, 80S
1,298
218
23,744
n.a
7,172
n.a
n.a
n.a
n.a
3,163
4,527
1,112
-1,630
18,211
2,604
133
745
-100
6,476
726
2,080
-10
536
24
156
-78
1,768
94
343
(*)
699
73
177
6
-399
-58
69
-27
2,020
195
907
12
3,837
183
703
-7
692
426
446
-10
-73
-78
24
-5
16,850
2,000
4,874
20
374
-437
4
103
44
223
-22
-145
-143
—53
68
155
83
—46
-37
38
-170
-12
-188
-68
11
1,709
1,815
-127
4,472
104
144
-88
-384
-108
-2
110
-5
69
-50
47
3
26
—7
13
25
-21
-67
312
6
51
21
64
21
46
-14
9
—10
13
9
—17
18
30
1
-39
2
76
(*)
-3
107
529
55
-63
79
-86
19
43
-88
82
8
-65
659
1
—1
-10
—34
15
22
-3
-24
-1
12
-10
—11
1
-21
7
-17
-14
7
-4
-3
58
79
1
120
9
-25
23
-6
116
79
4
-79
228
216
-162
-150
11
32
1
5
-39
75
-90
104
-34
-183
-1
3
10
10
1
20
1
244
50
' Revised.
* Preliminary.
* Less than $500,000 (±).
n.a. Not available.
1. With maturity of 1 year or less; negotiable certificates of deposit with a mautrity of 1 year
or less are included with money market paper.
2. Includes liabilities of U.S. monetary authroities for gold deposited by and held for IMF.
Excludes dollar holdings of IMF except holdings acquired through gold sales to the United
I
Amounts
outstanding
December
31, 1969
19 69
1968
Line
States with the option to reverse the transactions. These reversible transactions amounted
to $200 million in 1956, $300 million in 1959, and $300 million in 1960.
3. These data are quarter-end estimates of liabilities of U.S. banks to their foreign branches;
they are derived from weekly and daily figures compiled by the Federal Reserve System.
SURVEY OF CURRENT BUSINESS
44
March 1970
Table 8.—U.S. International
[Millions of
United Kingdom
(Credits +; debits -)
Line
1969
1968*
1
2
Exports of goods &nd services
Excluding transfers under military grants
3
4
5
6
Merchandise adjusted excluding military
Transfers under military sales contracts
Transfers under military grants net
Transportation
_. ..
.
Travel
- --- - --Fees and royalties from direct investments
Other private services
Other U S Government services
11
12
13
Income on U.S. investments
abroad:
Direct investments 2
Other private assets
U S Government assets
14
-- -
-
Imports of goods and services
--
- --
...
15
16
17
Merchandise adjusted excluding military
Military expenditures
-Transportation
18
19
20
Travel
-..Private payments for other services
U S Government payments for other services
21
22
Income on foreign investments
in the United States:
Private payments 2
___
U S Government payments
23
24
25
26
27
28
29
30
- . _ _
_
Balance on moods and services (lines 1 and 14)
Excluding transfers under military grants (lines 2 and
H).
Unilateral transfers net ; transfers to foreigners (— )
_
Excluding military grants
_ .
Private remittances
Miilitarv grants of goods and services
U S Government pensions and other transfers
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
Claims reported by U.S. residents other than banks:
Long-term
Short-term
- Transactions in U.S. Government assets, excluding official reserve assets, net; increase in assets (-).
Loans and other long-term assets
Foreign currencies and other assets
Repayments on credits:
Scheduled
- -Nonscheduled (including sales of foreign obligations to
foreigners)
Transactions in U.S. official reserve assets, net; increase in
assets (—*)
-
II
IIP
IV *
936
936
1,098
1,098
8,165
8,167
n.a.
9,096
1,827
1,827
2,415
2,416
2,302
2,303
n.a.
2,550
1,959
322
(*)
278
2,024
331
396
103
526
86
499
70
603
72
1,851
104
1,704
70
51
83
93
78
6,865
345
n.a.
542
1,316
112
305
6,068
363
-2
479
97
164
49
176
147
19
49
183
148
16
8
41
37
4
12
43
37
4
19
51
37
4
10
48
37
4
115
281
237
27
138
291
239
23
23
69
58
5
139
9
36
64
61
6
1,994
59
n.a.
143
46
72
58
7
33
85
62
5
281
159
130
324
192
250
105
43
31
78
49
51
80
48
35
61
52
133
439
113
45
457
128
67
107
28
12
106
32
17
129
32
20
115
37
18
-3,686
-4,414
-804
-1,183
-1,255
-1,171
-8,840
-9,154
-1,700
-2,563
-2,557
-2,333
-2,053
-172
-467
-2, 055
-207
-482
-372
-60
-86
-594
-46
-144
-542
-48
-142
-547
-53
-110
-5, 918
-1, 082
-675
-5,835
-1, 169
-714
-1,025
-290
-140
-1,710
-280
-206
-1, 561
-298
-218
-1, 539
-302
-149
-198
-198
-14
-224
-224
-14
-16
-57
-3
-71
-57
-4
-100
-54
-3
-37
-56
-4
-400
-79
-67
-443
-90
-71
-40
-21
-17
-126
-22
-17
-215
-22
-20
-62
-25
-17
-534
-49
-1, 174
-34
-202
-9
-259
-9
-357
-8
-356
-8
-355
-265
-570
-262
-113
-55
-138
-64
-156
-66
-163
-77
-167
-166
-591
-591
15
15
-214
-214
-319
-319
-73
-73
-675
-673
n.a.
-58
127
127
-148
-148
-255
-255
n.a.
217
-60
-61
-58
-58
-12
-12
-16
-16
-15
-15
-15
-15
-84
-86
n.a.
-5
3
3
-3
-3
-2
-3
n.a.
-2
-43
(*)
(*)
-17
-40
-8
-11
-11
-10
21
21
22
n.a.
-4
-5
-4
-5
91
n.a.
(*)
-95
26
-18
8
2
-1
-93
-23
-24
-24
-24
-649
2
-230
-334
-87
-759
-63
130
-151
-258
215
-227
-
I
969
969
Transactions in U.S. private assets, net; increase in assets (-).. -1,087
Claims reported by U.S. banks:
Long-term
.
Short-term
IV P
819
819
32
37
38
III'
II'
3,823
3,823
Balance on goods, services, and unilateral transfers (lines 23 and
25, or 24 and 26).
Direct investments 2
Foreign securities newly issued in the United States
Redemptions
.
O ther transactions in foreign securities
IQfiQ
1968
3,519
3,519
31
33
34
35
36
1969
IQfiQ
I'
7
8
9
10
European Economic Community
-276
-279
-53
-100
157
-399
-537
-84
-567
-183
297
-375
-278
-131
-61
-79
-7
-425
-280
-381
10
-173
5
-32
1
-66
1
-29
3
-46
23
41
5
70
3
30
-237
-14
2
47
187
16
-95
-710
-14
45
224
-12
-74
12
-100
1
-10
13
-17
-1
-38
-1
-35
121
22
-30
-120
-4
44
-1
-99
18
-28
-43
-37
-99
-448
-8
262
-27
-85
7
70
1
45
11
232
-3
-178
11
57
12
69
-16
-103
1
27
14
64
-174
12
-44
-1
-29
87
72
-207
-17
4
-189
-6
-255
11
-178
-29
-86
-1
-42
-3
-10
-20
-40
-5
-101
-7
-126
-10
-25
1
-40
3
-40
-9
-20
-4
70
173
46
41
3
(*)
132
40
139
59
«-131
7
(*)
18
24
16
3-155
18
43
662
84
138
-65
505
-755
-517
-75
-174
-379
111
-500
611
-126
--
835
-961
662
84
138
-65
505
-315
-440
-749
232
26
-101
-275
101
-379
Transactions in foreign assets in the United States, net; increase
in foreign assets (U S liabilities) (+)
2,512
Gold
Convertible currencies
Gold tranche position in IIVtF
-
Direct investments
U S securities other than Treasury issues
35
77
5,407
2,845
3,378
489
-1,304
1,272
1,532
-1,075
1,668
2,823
-1,884
114
528
-16
84
84
45
32
67
-40
17
13
104
-39
23
-12
40
9
212
1,287
-3
333
1,351
-1
24
381
(*)
160
189
27
367
123
414
-1
294
117
67
-82
3
8
-14
-37
52
15
26
-68
271
356
330
149
76
13
49
6
70
68
135
62
-42
-153
(*)
-20
-38
(*)
-57
-38
-119
758
217
224
-54
125
-66
124
44
-100
293
75
(*)
54
55
Other liabilities reported by U.S. private residents other
than banks:
Long-term
- -Short-term
- - --
56
57
Nonmarketable liabilities of U.S. Government, including
medium-term securities and long-term obligations payable
prior to maturity only under special conditions:
Associated with specific transactions
__ _ _
Other medium-term securities and long-term obligations
58
59
U.S. Treasury marketable or convertible bonds and notes. _
Deposits and money market paper held in the United States
52
1,465
56
5,305
19
2,736
-35
3,512
72
318
(*)
-1, 261
-115
-1, 375
-317
-754
-51
-1,589
-49
1,255
2,347
-217
-2, 767
60
Errors and omissions, and transfers of funds between foreign
areas, net; receipts by foreign areas ( — )
_ _
-898
-5,156
-2,607
-3,231
40
643
570
-207
1,122
-780
-1,815
1,266
SURVEY OF CUERENT BUSINESS
March 1970
45
Transactions, by Area
dollars]
Eastern Europe
Other Western Europe
Canada
1969
1969
1969 »
1968
I
Line
II
IIP
IV P
1969 P
1968
II
I
1969
1968
IV P
III'
1969 P
I'
III'
IP
IV P
4,237
3,865
n.a.
4,329
1,025
943
1,227
1,132
1,127
1,030
n.a.
1,224
254
254
294
294
48
48
72
72
77
77
97
97
10,910
10,910
12,169
12,169
2,903
2,903
3,189
3,189
2,916
2,916
3,162
3,162
1
2
2,516
124
371
495
2,744
174
n.a.
539
582
40
82
93
730
45
95
150
649
37
97
150
783
52
n.a.
146
222
253
40
64
64
85
8,141
39
9,187
46
2,235
8
2,412
10
2,128
9
2,412
19
3
3
1
1
1
161
162
34
41
45
43
3
4
5
6
69
78
119
47
83
93
117
68
15
26
28
14
18
22
30
20
24
20
29
17
26
24
30
17
15
2
19
2
811
265
168
6
184
65
41
1
230
63
41
1
272
62
42
2
125
75
44
2
7
8
9
10
196
112
110
274
123
114
86
28
33
60
31
25
47
31
25
81
34
30
3
9
4
13
175
160
200
191
182
174
(*)
237
205
(*)
11
12
13
-4,035
-4,321
-827
-1,234
-1,188
-1,073
-234
-2, 216
-279
-617
-2, 271
-248
-644
-425
-62
-120
-685
-60
-202
-566
-66
-179
-595
-61
-143
-206
-1
-3
-327
-43
-43
-402
-48
-53
-47
-13
-12
-110
-11
-12
-189
-12
-13
-56
-12
-16
-15
(*)
-8
-19
-413
-98
-657
-97
-121
-26
-130
-24
-142
-20
-163
-27
-1
(*)
-1
(*)
(*)
(*)
201
-170
n.a.
8
199
117
-7
-102
-60
-157
n.a.
151
20
20
63
63
(*)
(*)
-667
-295
n.a.
-280
-146
-64
-183
-88
-163
-66
n.a.
-63
-30
-30
-23
-23
-169
-371
-35
-91
-167
n.a.
-34
-79
-40
-82
—4
-19
-46
-95
-22
-20
-42
-97
-3
-21
-38
n.a.
-5
-20
-9
-465
-272
53
-190
-223
-74
-158
-37
-162
-195
-257
-13
20
-20
13
39
121
88
-47
-42
(*)
5
5
1
5
1
638
268
166
8
1
1
1
1
1
6
1
5
849
634
7
794
730
1
-230
-48
-66
-63
-53
-10,510
-12,023
-2,627
-3,069
-3,097
-3,229
14
-199
-1
-3
-44
(*)
-57
(*)
-49
(*)
-49
-1
-1
-8, 594
-285
-208
-9, 999
-293
-187
-2,288
-78
-39
-2, 574
—77
-48
-2,330
-62
-50
-2,807
-75
-50
15
16
17
-1
-6
-11
-1
-2
-2
-2
-820
-136
-66
-890
-121
-10
-70
-32
-2
-215
-30
-3
-490
-30
-3
-115
-30
-3
18
19
20
-313
-89
-423
-99
-91
-27
-99
-23
-109
-24
-124
-25
21
22
-7
5
(*)
(*)
-2
(*)
(*)
(*)
(*)
(*)
(*)
(*)
O
6
6
14
14
44
44
400
400
146
146
276
276
119
119
-181
-181
-67
-67
23
24
-4
-4
-6
-6
-5
-5
-8
-8
-11
-11
-67
-67
1
1
-18
-18
-23
-23
-28
-28
25
26
-11
-2
-3
-3
-3
27
-26
11
-8
-13
-17
-15
-6
-6
-7
-1
-2
-2
-1
'12
-3
-2
-37
-41
-10
-10
-10
-10
27
28
29
30
88
-10
40
-4
-1
9
36
389
79
276
102
-204
-95
31
28
14
o
-8
3
-5
-6
-1,365
-2,122
-778
-353
-358
-633
32
-81
-84
-80
5
5
4
-29
1
33
3
30
-594
-946
190
35
-624
-1,232
230
—94
-187
-386
35
26
-77
-184
60
-130
-161
-403
40
-29
-199
-259
95
40
33
34
35
36
90
-29
6
7
-10
-29
48
4
46
-11
-1
74
25
-285
28
-149
2
-57
-5
105
(*)
-184
37
38
-50
37
-49
1
-9
-9
4
22
4
23
"l
*L2
-61
-62
-73
-70
-13
-132
-15
48
-17
112
-28
-98
39
40
-117
-86
-23
-55
-4
-4
10
34
5
8
14
7
24
-4
-4
1
-1
(*)
41
-249
4
-232
-14
-49
-7
-91
-7
-48
3
-43
-3
-20
12
-10
18
-5
4
-2
7
-1
2
-3
5
-4
-3
-5
2
-3
-1
-3
4
-1
(*)
42
43
128
1
156
4
33
(*)
40
4
41
43
18
26
6
2
13
5
31
367
-305
-32
-12
-7
-254
-50
4
2
2
0
(*)
46
149
218
-221
-84
26
-58
-17
5
-9
2
-221
-33
-50
(*)
4
2
2
(*)
(*)
47
48
49
1,854
2,126
289
-435
263
2,008
1,221
1,247
504
-103
313
533
50
-29
1,617
(*)
74
805
-8
15
509
-10
7
19
-1
6
30
1
46
247
2
-26
473
1
211
174
141
141
(*)
71
40
33
-19
C)
-34
11
(*)
51
52
53
108
174
164
-54
62
-55
27
10
16
12
59
-21
-7
21
-1
-26
1
-49
-5
1
2
-4
1
26
54
55
29
20
-17
-20
-19
-20
20
11
-28
(*)
-35
1,050
-17
-175
1
19
— 250
—4
-33
75
56
57
50
-115
148
1,033
31
-225
39
-556
76
112
2
1,702
(*)
4
264
-1
22
2
303
-118
605
58
59
-1,565
-1,305
-250
854
-56
-1,853
351
250
195
60
4
3
6
-12
(
*>-3
(
3
8
(<)
-4
*L6
2
4
-1
-1
<*)
(*)
-1
(
2
-4
<*)
8
8
(*)
(*)
2
(*)
(*)
(*)
(*)
-12
(*)
1
(*)
-5
(
(>)
9
-12
-75
8
(*)
(*)
(*)
(*)
44
45
6
8
8
-343
87
-113
1,194
-7
-31
-45
-219
796
W
(*)
(*)
SUEVEY OF CUEEENT BUSINESS
46
March 1970
Table 8.—U.S. International
[Millions of
Latin American Republics and other Western
Hemisphere
(Credits -f ; debits -)
Line
1969
1969 9
1968
I
1 Exports of goods and services
Excluding transfers under military grants
2
Merchandise, adjusted, excluding military
3
Transfers under military sales contracts
4
Transfers under military grants, net
5
Transportation
6
7
8
9
10
Travel
Fees and royalties from direct investments
Other private services
Other U S Government services
11
12
13
Income on U.S. investments
abroad:
Direct investments 2
.
Other private assets
U S Government assets
14
..
Imports of goods and services
15
16
17
Merchandise adjusted, excluding military
IWEilitary expenditures
Transportation
18
19
20
Travel
Private payments for other services
U S Government payments for other services
21
22
Income on foreign investments
in the United States:
Private payments 2
U S Government payments
..
Japan
1968
IV »
III'
II
1969
1969 9
I
III-
II r
IV 9
8,952
8,887
n.a.
9,315
1,922
1,913
2,517
2,507
2,428
2,413
n.a.
2,481
3,789
3,789
n.a.
4,431
5,275
63
65
451
5,533
29
n.a.
468
1,067
8
9
90
1,518
6
10
121
1,420
9
15
134
1,528
7
n.a.
122
2,959
31
(*)
227
3,510
18
n.a.
229
48
62
755
228
267
74
799
241
281
72
173
45
65
17
224
60
71
20
212
62
73
16
190
74
72
18
51
41
148
11
67
49
178
26
13
12
44
3
17
14
44
12
1,232
406
137
1,284
456
151
314
102
32
327
117
43
345
113
30
298
125
46
60
227
36
60
263
32
23
58
9
8
63
9
-7,206
-7,552
-1,797
-1,950
-1,873
-1,933
-5,156
-6,223
-1,192
-1,649
-1,731
-1,652
-5, 155
-188
-276
-5, 217
-178
-321
-1,201
-50
-74
-1,376
-43
-82
-1,271
-41
-83
-1,369
-44
-81
-4,071
-581
-210
-4,897
-658
-245
-901
-151
-52
-1,314
-169
-65
-1,386
-162
-65
-1,296
-176
-63
-1,042
-132
-163
-1,140
-137
-167
-322
-32
-41
-283
-37
-38
-291
-36
-45
-244
-32
-44
-60
-18
-16
-73
-19
-19
-12
-5
-3
-20
-5
-5
-24
-5
-5
-17
-5
-5
-234
-17
-375
-18
-72
-6
-86
-5
-102
-4
-115
-3
-164
-37
-235
-78
-47
-20
-51
-20
-66
-17
-71
-21
905
905
1,093
1,093
692
4
862
4
(*)
1,143
1,143
iuu
1,290
909
5
61
1,047
5
n.a.
58
19
12
44
4
18
11
46
6
13
68
7
17
74
8
(*)
23
24
Balance on (foods and services (lines 1 and 14)
Excluding transfers under military grants (lines 2 and 14) „
1,746
1,681
n.a.
1,763
125
116
567
557
555
540
n.a.
549
-1,368
-1,367
n.a.
-1,793
-287
-287
-556
-556
-588
-588
n.a.
-362
25
26
Unilateral transfers net* transfers to foreigners ( — )
Excluding military grants
--
-494
-429
n.a.
-432
-108
-99
-134
-124
-112
-97
n.a.
-113
-36
-36
n.a.
-34
-8
-8
-8
-8
-8
-9
n.a.
-9
-149
-65
-245
-35
-173
n.a.
-220
-40
-41
-9
-47
-11
-44
-10
-70
-11
-45
-15
-43
-9
-43
n.a.
-60
-9
-28
(*)
(*)
-8
-25
n.a.
-6
(*)
-6
-6
(*)
-7
n.a.
-9
-2
-2
-2
-2
27
28
29
30
Private remittances
Military grants of goods and services
Other U S Government grants
U S Government pensions and other transfers
31
Balance on goods, services, and unilateral transfers (lines 23 and
25 or 24 and 26)
--
1,253
1,330
18
434
443
436
-1,403
-1,826
-295
-564
-596
-371
32
Transactions in U.S. private assets, net; increase in assets (-)— -
-820
-338
75
-199
-27
-187
7
-481
51
-209
-70
-252
16
-9
-43
2
3
-86
33
34
35
36
Direct investments 2
-Foreign securities newly issued in the United States
Redemptions
Other transactions in foreign securities
-572
-144
30
-85
-302
-30
24
-70
-58
-16
9
-30
-160
-3
5
-19
-160
77
-11
7
2
-77
-3
6
6
-52
-9
6
-204
-27
*1
-23
-2
-22
3
-93
37
38
Claims reported by U.S. banks:
Long-term
Short-term
181
-176
40
96
39
99
5
-19
-3
94
-1
-78
58
41
36
-226
8
61
13
-171
8
59
7
-175
39
40
Claims reported by U.S. residents other than banks:
Long-term
Short-term
75
-129
-136
39
7
25
4
-13
27
35
-174
-8
-(2
-13
-19
3
8
-17
-19
-1
-3
2
-5
-678
-561
-93
-135
-168
-165
101
6
29
-8
5
-20
-236
-2
-252
-3
-133
-12
-140
16
-29
9
-47
4
-30
3
-34
(*)
70
90
146
130
49
36
33
14
41
- --
Transactions in U.S. Government assets, excluding official reserve assets net* increase in assets (— )
42
43
Loans and other long-term assets
Foreisn currencies and other assets
44
45
Repayments on credits:
Scheduled
Nonscheduled (including sales of foreign obligations to
46
Transactions in U.S. official reserve assets, net; increase in
47
48
49
50
- -
Gold
Transactions in foreign assets in the United States, net; increase
in foreign assets (U S liabilities)(-H
- --
51
52
53
Direct investments 2
U S securities other than Treasury issues
Long-term liabilities reported by U S banks
54
55
Other liabilities reported by U.S. private residents other
than banks:
Long-term
Short-term
56
57
Nonmarketable liabilities of U.S. Government, including
medium-term securities and long-term obligations payable prior to maturity only under special conditions:
Associated with specific transactions
Other medium-term securities and long-term obligations.
58
59
U.S. Treasury marketable or convertible bonds and notes.
Deposits and money market paper held in the United States
60
Errors and omissions, and transfers of funds between foreign
areas net; receipts by foreign areas ( — )
-
T
-992
22
-877
-2
-164
1
-224
2
288
316
71
86
(
100
2
3
2
65
44
7
65
44
7
15
22
15
22
821
762
141
78
-23
566
1,005
587
260
-93
168
-10
186
95
-9
150
-330
-1
55
-17
-28
68
-119
(*)
-35
-153
20
62
-41
60
2
214
-8
5
-2
23
-1
1
1
-31
3
1
7
57
13
-7
1
9
17
7
-5
-16
-27
12
-9
22
-2
-18
531
4
929
1
118
-2
127
2
141
-641 -1,237
-147
-178
-240
Revised.
9 Preliminary.
n.a. Not available.
* Less than $500,000 (±).
t Lines 50, 59, and 60 for 1968, include revisions made in September 1969 Survey.
(*)
25
11
39
-5
22
3
543
1
707
52
468
-672
290
1,713
(*)
(*)
(*)
(*)
10
-1
(
'L
-44
(*)
14
3
(*)
-111
873
W
4
22
252
(*)
-4
11
11
-2
(*)
169
52
183
494
391
1. Includes transactions with shipping companies operating under the flags of Honduras,
Liberia, and Panama.
SURVEY OF CURRENT BUSINESS
March 1970
47
Transactions, by Area—Continued
dollars]
Other countries in Asia and Africa
Australia, New Zealand, and South Africa
1969
1969P
1968
III'
II
I
1968
1969
1969*
IV P
International organizations and unallocated *
1968 1
I'
II '
III'
IV P
I
II
III'
2,099
2,099
2,052
2,052
413
413
528
528
531
531
579
579
9,049
8,645
n.a.
9,128
1,848
1,779
2,690
2,568
2,423
2,286
n.a.
2,495
1,384
179
1,356
104
250
39
356
32
360
16
390
16
5,074
91
98
19
27
27
26
306
404
511
5,015
457
n.a.
538
867
95
69
96
1,566
109
122
152
1,231
144
136
149
1,351
109
n.a.
142
231
237
43
62
40
81
96
1
36
88
91
1
6
18
22
8
21
24
13
15
23
9
33
23
53
113
236
164
69
121
240
161
10
26
58
39
15
33
59
44
25
29
60
39
19
33
62
39
13
116
11
130
2
30
160
49
18
204
50
24
46
11
1
36
14
10
58
14
11
1,730
185
273
2,017
232
280
471
55
63
463
54
74
479
62
69
604
62
74
38
61
1
293
79
1
42
24
1
-1,103
-1,273
-252
-329
-375
-317
-6,565
-7,324
-1,580
-1,912
-1,933
-1,899
-744
-923
-33
-74
-1,055
-42
-87
-198
-11
-20
-274
-10
-25
-319
-10
-22
-264
-11
-20
-3, 784
-272
-881
-503
-49
-1, 148
-522
-74
-1, 126
-532
-80
-1,114
-528
-69
-52
-1,910
-4,269
-2,085
-464
-25
-2
-25
-28
-3
-26
-9
-1
-7
-5
-1
-6
-7
-1
-8
-7
-1
-6
-135
-17
-241
-153
-15
-246
-25
-4
-59
-36
-4
-60
-56
-4
-61
-36
-4
-66
-108
-13
-7
-24
-8
-4
-2
-6
-2
-7
-2
-6
-2
-164
-61
-212
-74
-44
-17
-49
-19
-55
-19
-65
-19
996
996
778
778
161
161
199
199
156
156
262
262
2,484
2,080
n.a.
1,804
268
198
778
656
490
354
n.a.
596
-285
-285
-20
-20
-19
-19
-5
—5
-5
-5
-5
-5
-5
-5
-2,178
-1,773
n.a.
-1,758
-472
-403
-655
-533
-530
-394
n.a.
-428
-124
-124
-17
-16
-4
-4
-4
-4
-389
n.a.
-1, 256
-113
-96
-69
-280
-27
-97
-122
-409
-28
-94
-136
-270
-29
-101
n.a.
-297
-30
-1
-1
-123
-133
-34
-58
-1
-371
-404
-1, 287
-116
307
47
-205
123
-40
169
-409
-183
-33
-64
-693
-184
-520
10
-80
-56
(*)
(*)
(*)
(*)
64
11
1
-3
-3
-1
-1
976
759
156
195
150
258
-15
-17
-38
-17
-27
-33
-53
-184
-168
-56
-129
14
-1
-254
-888
(*)
459
459
-41
-80
-1
-346
752
752
-800
142
142
-140
-97
-510
Line
1969
1969P
IV P
308
308
1
2
65
68
3
4
5
6
4
33
3
33
3
33
7
8
9
10
52
13
7
28
192
13
11
12
13
164
164
137
137
(*)
-169
-124
-228
-122
-1
-50
-43
18
19
20
-84
-108
-14
-25
-18
-26
-28
-28
-24
-29
21
22
-48
-48
2
2
~~5
-5
-90
-90
45
45
23
24
-35
-35
-59
-59
-11
-11
-31
-31
25
26
(*)
'(*)
-11
-30
27
28
29
30
-135
-135
-2
-341
15
31
-62
-144
32
-102
-413
-179
41
14
-205
-47
11
17
-247
-53
5
-6
-73
-31
12
2
112
-47
13
1
-158
-390
176
26
-295
-165
88
32
-40
-115
56
20
-70
-2
7
9
-33
-49
15
5
-152
10
-2
33
34
35
36
(*)
37
38
22
1
4
(*)
2
3
2
15
-3
34
-21
54
3
11
17
23
-18
13
9
7
-5
-144
-40
96
-184
40
5
-14
-173
51
54
19
-70
(*)
(*)
(*)
(*)
<*)
-23
-9
-2
-5
-3
2
2
2
-1
-9
(*)
-16
-70
-75
7
-12
8
-37
5
-17
13
-9
-19
(*)
-1
-1
(*)
(*)
-168
-46
-37
-28
20
-1,272
-1,325
-274
-520
-248
-283
-48
-40
-10
-22
3
-224
-2
-115
-6
-40
1
-26
-5
-29
-2
-21
(*)
-1,681
-1,746
-308
-32
-372
3
-48
3
-12
77
-487
-118
-53
46
-579
224
-24
3
58
74
2
31
2
40
337
352
81
83
98
5
5
3
26
3 -9
1
1
91
(*)
1
1
432
-32
-3
-24
-9
4
2
1
1
432
-32
-3
-24
-9
4
170
8
17
61
15
-2
39
40
-12
41
-12
42
43
3
44
3 -11
2
24
-167
-5
12
-9
(*)
14
15
16
17
-98
-462
-176
22
-2
(*)
-263
45
-815
-1,044
-32
-229
-241
-1
-542
46
55
-10
-1
—870
-1,034
-31
-228
-233
-542
47
48
49
-8
8
-79
102
363
-117
-196
-165
-47
291
204
392
75
66
150
102
50
39
u
"12
-9
(*)
-16
-14
61
8
-18
-2
129
271
1
70
-508
3
21
-60
-2
15
-89
1
27
-213
-1
7
-146
130
11
379
131
187
-1
-24
28
76
90
140
14
51
52
53
*>14
2
-2
-2
7
°9
2
12
9
16
4
6
3
40
-6
-6
8
-24
34
47
9
4
11
2f
18:
52
-70
16
-10
63
-45
-28
-15
1
(*)
-21
35
»
°-S
<•->«
27
1
-27
-3
316
-2
-174
1
-151
(*)
193
-2
448
-139
202
6
-123
-1
-110
8
54
(*)
-16
-1
-51
58
59
-273
-187
-27
-341
1,05
2,120
862
1,106
334
-181
1,414
1,216
78
305
253
581
60
-2
-13
-650
(
-827
139
(>)
w
(*)
23
(*)
2. Excludes
undistributed profits of subsidiaries.
3. Negative entry reflects repurchase of foreign obligations previously sold.
(*)
(*)
(*)
(*)
54
55
(*)
56
57
NOTE.—Details may not add to totals because of rounding.
Source: U.S. Department of Commerce, Office of Business Economics.
SURVEY OF CUKEENT BUSINESS
48
March 1970
Table 9.—Changes in Reported Foreign Gold Reserves and Liquid Dollar Holdings Through Known Transactions With the United States
and Through Other Transactions, by Area 1
[Millions of dollars]
1968
1969^
1968
T 1T1A
I
II
1969
III
IV
Ir
Ilr
Illr
IVr
All areas:
I
2
3
Total increase
Through known transactions with the United States
Through other transactions
_
—863
—219
-644
7 163
7 058
105
—1 093
215
—1,308
165
—105
270
623
408
215
558
738
180
1 413
1 269
144
3 70-1
3 816
—1,420
-2, 446
1,026
5 415
—1 356
6,771
—720
—325
-395
500
—368
868
88
136
—224
1 112
1 887
775
739
493
246
na
868
na
632
279
353
1 804
'l81
1 623
—274
385
—659
1 423
352
—1 071
2
1
1
9
—65
74
—12
13
-25
6
9
—3
3
—13
16
—408
-525
117
1 094
1 881
—787
—545
—512
-33
121
—331
452
543
-63
606
981
—260
1,241
—59
—6
-53
726
999
-273
577
2 234
—1 657
665
—668
1,333
070
9 8Q9
9 07°.
ooo
85
81
19fi
887
838
1 725
4 154
2 527
Western Europe, including United Kingdom:
4
5
6
Total increase
Through known transaction with the United States
Through other transactions. _
960
9 1 cq
642
2 124
3 194
1 885
29
2 341
'231
2 gio
3 612
3 229
*383
311
365
54
114
5
—9
14
12
—4
—8
5
1
6
g
23
31
—37
222
—259
53
95
—42
270
271
—1
—351
—244
682
195
127
—186
313
122
225
—103
353
—95
448
122
—21
143
122
—53
175
182
—82
264
555
104
659
-58
94
—152
1
124
—123
321
392
—71
462
387
75
228
183
45
—105
177
662
277
626
350
-87
—792
705
134
—139
273
225
—159
384
119
—178
297
187
—194
381
203
—192
395
—104
—192
230
1,230
—1,000
303
2 401
—2,098
100
490
-390
210
384
—174
118
99
19
-198
257
—455
-150
683
—833
-1,201
610
-1,811
-1,129
54
-1,183
67
268
-201
-1,025
23
-1,048
65
54
11
-308
265
—573
-135
—63
—72
United Kingdom:
7
8
9
Total increase
Through known transactions with the United States. _
Through other transactions
Eastern Europe:
10
11
12
Total increase
Through known transactions with the United States
Through other transactions
37
45
Canada:
13
14
15
Total increase
Through known transactions with the United States
Through other transactions
_
_
26
374
311
555
487
Latin American Republics and other Western Hemisphere:
16
17
18
Total increase
Through known transactions with the United States
Through other transactions
Japan:
19
20
21
Total increase .
.
Through known transactions with the United States
Through other transactions
763
—868
—485
Australia, New Zealand, and South Africa:
22
23
24
Total increase
_
_
Through known transactions with the United States
Through other transactions
88
—241
—95
—146
55
314
369
Other countries in Asia and Africa:
25
26
27
Total increase
Through known transactions with the United States
Through other transactions
—163
932
176
518
—1 095
—342
440
269
177
-204
-248
—542
-342
-243
—529
International organizations and unallocated :
28
29
30
Total increase
Through known transactions with the United States 2
Through other transactions
r
p Preliminary.
Revised.
n.a. Not available.
1. Total increase represents changes in reported gold reserves of foreign central banks and
governments (including international organizations but excluding the countries of the Soviet
bloc) net of convertible currencies included in U.S. official reserve assets (table 1, line 48) plus
foreign liquid claims on the United States (table 1, lines 58 and 59) plus net changes in foreign
IMF positions through U.S. dollar transactions (table 1, line 49).
Changes through known transactions with the United States represents for each of the separate
areas shown the sum (with sign reversed) of table 8, lines 23, 25, 32, 41, and 51-57. For "All
areas" line 60 is added, and for "All areas" and "International organizations and unallocated"
line 23 is adjusted to exclude net sales or net purchases (—) of gold by U.S. private residents
to the U.S. monetary gold stock. These were (in millions of dollars): 1968,1, -52.
Changes through other transactions equals "Total increase" less "Changes through known
transactions with the United States." For "All areas" this difference represents known
138
—5
—13
acquisitions (+) or sales (—) of gold by foreign central banks and governments outside the
United States. The net acquisitions of gold e iual the excess of new gold production abroad
plus sales by the Soviet bloc less net gold purchases by others. For each of the separate areas
shown the difference reflects net gold and dollar receipts (-J-) or payments (—) resulting from
their transactions with countries other than the United States, net changes in their convertible
currencies included in U.S. official reserve assets resulting from U.S. transactions with other
areas, and from unrecorded transactions with the United States.
2. Includes transactions with shipping companies operating under the flag of Honduras,
Liberia, and Panama.
NOTE.—Details may not add to totals because of rounding.
Source: U.S. Department of Commerce, Office of Business Economics.
U. S. GOVERNMENT PRINTING OFFICE : 1970 O - 377-332
CURRENT BUSINESS STATISTICS
JLHE STATISTICS here update series published in the 1969 edition of BUSINESS STATISTICS, biennial statistical supplement to the SURVEY
OF CURRENT BUSINESS. That volume (price $3.00) provides a description of each series, references to sources of earlier figures, and historical data
as follows: For all series, monthly or quarterly, 1965 through 1968 (1958-68 for major quarterly series), annually, 1939-68; for selected series,
monthly or quarterly, 1947-68 (where available). Series added or significantly revised after the 1969 BUSINESS STATISTICS went to press are indicated
by an asterisk (*) and a dagger (f), respectively; certain revisions for 1968 issued too late for inclusion in the 1969 volume appear in the monthly
SURVEY beginning with the September 1969 issue. Also, unless otherwise noted, revised monthly data for periods not shown herein corresponding
to revised annual data are available upon request.
Statistics originating in Government agencies are not copyrighted and may be reprinted freely. Data from private sources are provided through
the courtesy of the compilers, and are subject to their copyrights.
1967
Unless otherwise stated in footnotes below, data
through 1968 and descriptive notes are as shown in
the 1969 edition of BUSINESS STATISTICS
| 1968
1966
1969
IV
1967
I
1968
III
II
IV
I
|
1969
III
II
IV
I
II
III
IV
Annual total
Seasonally adjusted quarterly totals at annual rates
GENERAL BUSINESS INDICATORS—Quarterly Series
NATIONAL INCOME AND PRODUCT
bil. $
793.5
865.7
932.1
770 7
774 2
783 5
800 4
816 1
835 3
858 7
876 4
892 5
908.7
924.8
942.8
952.2
do
492.3
536.6
576.0
474.5
480.9
489.8
495.7
502.6
520.6
530.3
544.9
550.7
562.0
572.8
579.8
589.5
Durable goods, total 9
do
Automobiles a n d parts _ _
_____do
Furniture and household equipment
do
73 0
30.5
31.3
83.3
37.0
34.2
89.8
40.4
36.0
71 9
30.5
30.7
70 0
28 4
30. 7
73 5
31 3
31.2
73 3
30 9
31 2
75 2
31 2
32 2
79 5
34 8
33 4
81 8
35 6
33.8
85 8
38 6
35.0
86 3
39 0
34 6
88.4
39.4
35.5
90.6
40.0
36.8
89.8
40.8
35.8
90.4
41.3
35.8
215.1
42 5
108 1
17.7
230.6
46 3
115.0
19.1
243.6
49.9
119.8
21.3
209.1
40 9
105 6
17.0
213 2
41 7
107 8
17 3
214
42
107
17
215 8
42 9
108 1
17 9
216 8
42 7
108 9
18 1
226 1
45 0
112 6
18 9
228 5
45 6
114 8
18 8
233 3
47 4
116 1
19 5
234 3
47 3
116 4
19 5
238.6
48.1
118.4
20.4
242.1
50.0
119.1
21.0
245.1
50.8
119.9
21.8
248.7
50.8
121.7
22.0
- d o
do _
do
do
204.2
29.1
71 8
14 7
222.8
31.2
77 4
16 1
242.6
33.5
83.7
17.5
193 5
27.9
69 0
14 1
197 7
28 2
70 1
14 4
201 8
29 0
71 1
14 5
206
29
72
14
210
30
73
15
6
1
7
0
215 1
30 5
75 2
15 5
220
30
76
15
225 8
31.6
77 9
16 3
230 1
31 9
79 8
16 5
235. 0
32.7
81.3
17.1
240.1
33.1
82.8
17.3
244.9
33.9
84.4
17.7
250.3
34.1
86.4
17.9
do
116 0
126 3
139.4
126 2
113 6
109 4
117 7
123 3
119 4
126 6
125 2
133 9
135.2
137.4
143 3
141.8
108 6
83 7
27.9
55.7
25 0
24 4
7.4
68
119 0
88 8
29.3
59.5
30 2
29.6
7.3
74
131.4
99.2
33.4
65.8
32.2
31.7
8.0
7.8
106 3
84 2
28 2
56.0
22 1
21 5
19 9
20 4
104 7
83 3
29 0
54.2
21 4
20 9
90
91
106 1
83 0
27 2
55 8
23 1
22 5
34
30
109
83
27
55
26
25
7
7
9
5
8
7
5
9
8
0
113 8
85 0
27 8
57 2
28 8
28 3
95
80
117 7
89 1
29 8
59.4
28 6
28 0
1.6
13
116 7
86 4
28 3
58.1
30 3
29 7
9.9
10 3
118 0
88 1
29 0
59.1
29 9
29 4
7.2
75
123 4
91 5
30 1
61.4
31 9
31 4
10 5
10 7
128.6
95.3
32.3
63.0
33.3
32.8
6.6
6.6
130.5
97.8
32.1
65.7
32.7
32.2
6.9
6.7
132 5
101 1
34.7
66.4
31 4
30 9
10 7
10 3
134.0
102.5
34.5
68.0
31.6
31.0
7.7
7.4
do
.do
do
5.2
46.2
41 0
2.5
50.6
48 1
2.1
55.3
53.2
4.9
44.8
39 9
54
45.8
40 4
58
45.9
40 1
5.6
46.3
40 7
38
46.7
42 8
19
47.7
45 9
3.4
50.7
47 3
3.6
53.4
49 7
12
50.6
49 4
1.5
47.6
46.1
1.6
57.1
55.5
27
57.8
55 2
2.7
58.6
55.9
Govt. purchases of goods and services, total do
Federal. . _
do
National defense
__ _ do
State and local
do
180.1
90 7
72.4
89 3
200.3
99 5
78.0
100 7
214.6
101.9
79.2
112.7
165.2
82 1
65.6
83 0
174 2
87 8
69.9
86 4
178 5
90 3
71.9
88 1
181.3
91 3
73.0
90 0
186 4
93 5
74.6
92 9
193
96
76
97
4
3
1
1
198.4
99 0
77.9
99 4
202.5
100 9
78.8
101 7
206 7
101 9
79 3
104 8
210.0
101 6
79.0
108 5
212.9
100.6
78.5
112.3
217 0
103 2
80 3
113 8
218.3
102.3
79.2
116.0
By major type of product:
Final sales, total
..
Goods, total
Durable goods
Nondurable goods
Services
Structures _ _ _ _
786.2
391.0
157 0
234.1
316 7
78.4
858.4
423.7
171 4
252.3
347 5
87 1
924.1
451.8
186 2
265.6
377 4
95 0
750 8
377.2
151 8
225 4
298 4
75 3
765 2
382.5
151 9
230 7
306 4
76 3
780 2
392.5
158 3
234.2
312 0
75 6
792 6
393.3
157 7
235 5
320 1
79 3
806 6
395.8
160 0
235 9
328 4
82 4
833 6
412 8
166 4
246 5
335 0
85 8
848 8
419.3
168 9
250 4
343 4
86 0
869 2
429.9
173 7
256.1
353 2
86 1
882
433
176
256
358
90
0
0
6
4
5
6
902.1
441.3
181 6
259.7
365 8
94 9
917.9
449.6
185 5
264.1
373 4
94 8
932 0
455 2
187 8
267 4
381 6
95 3
944.5
461.1
189.9
271.2
388 6
94.8
7.4
39
3.5
7.3
53
2.0
8.0
55
2.5
19 9
13 2
67
90
4 2
4.7
34
15
18
78
4 4
34
95
56
39
16
19
— 3
99
68
3.1
7.2
51
2.1
10 5
74
31
66
4 g
1.8
6.9
4 9
2.1
10 7
7 6
31
7.7
47
3.0
674.6
707.6
727.5
668.1
666.5
670.5
678.0
683.5
693.3
705.8
712.8
718 5
723 1
726.7
730 6
729.8
430.3
452.6
466.1
420.7
424.4
430.5
431.9
434.3
445 6
449 0
458.2
457 6
462.9
466.2
466 5
468.6
do
do
do
72 8
190.3
167.2
80 7
196.9
175.0
84 9
199 4
181.8
72 3
187 0
161.5
70 3
190 2
163.9
73 9
190 6
166 1
73 0
190 3
168.6
73 9
190 2
170.3
77 7
196 0
171 8
79 5
195 8
173 7
83 0
198 7
176.5
82 7
197 2
177 7
84 3
199 3
179 3
85 9
199 3
181 0
84 7
199 3
182 5
84 8
199 6
184 2
do
100.8
105.7
111.8
112.5
100.5
95.7
101.6
105.4
101.2
106.6
104.1
110.9
109.9
110.8
114.3
112.2
do
do
do
do
93 9
73.6
20.3
6.9
99 1
75.8
23.3
6.6
104 8
81 4
23 4
6.9
94 0
75 4
18.6
18.5
92 0
74 1
17.9
8.5
92 6
73 5
19.0
3.1
94 3
73 1
21.2
7.4
96 7
73 8
23.0
8.7
99 8
77 1
22.7
1.5
97 6
74 0
23 5
9.0
97 7
75 0
22.7
6.4
101 4
77 3
24 1
9.6
104 0
79 4
24 6
5.9
104 8
81 0
23 8
6.0
105 0
82 4
22 6
9.3
4
105 5
82 8
22 7
6.7
148.4
73 9
74.fi
Gross national product, total
Personal consumption expenditures, total
Nondurable goods, total?
Clothing and shoes
Food and beverages
Gasoline and oil
__do_ __
do
do
do. __
_
Services, total 9
_.
Household operation.
Housing
Transportation
Gross private domestic investment, total
Fixed investment
do
Nonresident ial
do
Structures
_ _ __
_ . _ do
Producers' durable equipment _ ___ _do _
Residential structures
do
Nonfarm .
do
Change in business inventories
_do
Nonfarm
do
Net exports of goods and services _.
Exports
Imports
..
_
do
do _
do
_ do
do
d o
_
Change in business inventories.. .
do
Durable goods
do
Nondurable goods
_.
_ _ . do
4
6
6
5
6
3
3
8
0
7
7
9
GNP in constant (1958) dollars
Gross national product, total
bil. $
Personal consumption expenditures, total., .do
Durable goods
Nondurable goods
Services
_ _
Gross private domestic investment, total
Fixed investment
Nonresidential
_.
Residential structures
Change in business inventories
. . do
3.6
.9
o
3.3
4.0
4.2
4.1
2.0
.9
13
1.7
— 2
_ 3
— 5
Govt. purchases of goods and services, total. _do
Federal
do
State and local
do
140.0
74 8
65.2
148.4
78 9
69.5
149.7
76 0
73.7
131.6
68 6
63.0
137.6
72 8
64.8
140.1
75 1
65.0
140.4
75 5
64.9
141.7
75 7
66.0
145.6
77 3
68.3
148.9
79 6
69.3
148.8
79 2
69.6
150.2
79 4
70.8
150.6
78 3
72.3
150.2
76 3
149.4
73 Q
73 Q
Net exports of goods and services
T
Revised.
* Preliminary.
377-332 O - 70 - 4
9 Includes data not shown separately.
7K K
5
SUKVEY OF CURRENT BUSINESS
S-2
Unless otherwise stated in footnotes below, data
through 1968 and descriptive notes are as shown in
the 1969 edition of BUSINESS STATISTICS
1967
| 1968
Annual total
IV
III
II
I
II
1970
1969
1968
1967
1969
March 1970
III
IV
I
II
III
765.7
780.6
IV
II
I
GENERAL BUSINESS INDICATORS—Quarterly Series—Continued
NATIONAL INCOME AND PRODUCT— Con.
Quarterly Data Seasonally Adjusted at Annual Rates
654.0
Compensation of employees total
Wages and salaries, total
Private
Alilitary
9
1 p n f s tn
PS in 1 <; 1 i ~
Proprietors' income total 9
Farm
Rental income of persons
i l l
c
f
N"r> U
dU
t
'
f t~~]
_
'
hi
nnds inrh <?f IP
efcl
U £ . , f '
--
P)ividends
Undistributed profits
Commercial and other
Nonmanufacturing
Mining
Railroad
Air transportation
Other transportation
Public utilities
Electric
Gas and other
Communication
Commercial and other
688.8
707.4
724.1
737.3
751.3
P786. 7
513.6
564.3
461.1
470.7
481.7
495.1
507.0
519.8
532.3
546.0
558.2
571.9
581.1
465.0
369.0
18.0
78.0
48.6
63.8
49.2
14.6
21.2
509.9
405.3
19.2
85.4
54.4
66.3
50.2
16.1
21.6
426.5
417.7
339.6
333.0
16.1
15.9
70.8
68.8
43.4 ! 44.2
62.6
61.7
47.8
47.1
14.8
14.7
20.9
20.8
436.5
346.3
17.0
73.2
45.1
62.3
47.5
14.9
21.0
448.2
355.9
17.3
75.0
47.0
63.2
48.4
14.8
21.1
459.0
364.5
17.6
76.8
48.0
63.6
49.2
14.3
21.2
470.7
372.7
18.7
79.3
49.1
64.1
49.3
14.8
21.2
482.1
382.8
18.3
80.9
50.2
64.1
49.7
14.4
21.4
493.3
392.5
18.2
82.5
52.7
64.6
49.7
14.9
21.5
504.3
402.0
18.4
84.0
53.8
66.5
50.1
16.4
21.6
516.9
410.2
20.1
86.6
55.0
67.3
50.5
16.8
21.7
525.0
416.6
19.9
88.5
56.1
66.7
50.4
16.3
21.8
79 2
87.9
P88.2
79.1
81.1
82.5
88.2
90.6
90.3
89.5
89.2
88.8
P85.4
12.7
76.5
44.9
21.0
23.9
13.3
75.6
43.8
20.0
23.8
~ ~ ~ c\
do
78.3
10.5
68.8
39.0
18.1
20.9
11.5
76.4
44.4
19.9
24.5
Pl2. 9
P75. 3
P43.9
p20. 4
P23.6
10.3
68.0
38.8
17.9
20.8
10.5
68.6
38.3
18.0
20.4
10.8
70.3
39.5
18.3
21.2
11.0
71.6
41.1
19.1
22.0
11.2
76.9
44.9
19.8
25.1
12.1
78.5
45.4
20.4
25.0
11.9
78.5
46.2
20.4
25.8
12.3
77.2
45.1
20.3
24.7
10.8
19.0
11.6
20.4
Pll. 7
Pl9. 7
10.7
18.5
10.8
19.5
10.9
19.9
11.3
19.1
11.5
20.6
12.0
21.0
11.6
20.7
11.8
20.3
11.7
19.9
11.9
19.9
80.3
33.0
47.3
21.5
25.9
-1.1
24.7
91.1
41.3
49.8
23.1
26.7
-3.2
28.0
p93. 8
p43. 3
P50. 5
24.6
P25. 9
-5.6
30.6
79.1
32.6
46.4
21.7
24.8
79.5
32.5
47.0
22.0
25.0
24'. 3
25! 1
84.4
34.5
49.9
21.1
28.8
-3.3
25.9
87.9
39.9
47.9
22.2
25.7
-5.3
26.7
90.7
41.1
49.7
22.9
26.7
-2.6
27.5
91.5
41.4
50.0
23.6
26.5
-.9
28.4
94.5
42.9
51.6
23.8
27.8
-4.2
29.3
95.5
43.9
51.7
23.8
27.9
-6.1
29.8
95.4
44.1
51.3
24.3
27.0
-6.2
30.3
92.5
42.8
49.7
24.9
24.9
-3.7
30.9
P91.6
P42.5
P49.1
25.2
P23.9
-6.2
31.6
629.4
82.9
546.5
506.2
40.4
687.9
97.9
590.0
551.6
38.4
747.2
117.5
629. 7
592.0
37.6
622.2
80.6
541.6
503.9
37.7
634.5
84.1
550.3
509.7
40.7
645.9
86.1
559.8
516.6
43.1
664.3
89.3
575.0
535.1
39.9
680.1
92.7
587.4
545.1
42.3
696.1
102.6
593.4
560.2
33.2
711.2
107.0
604.3
566.2
38.0
724.4
114.2
610.2
577.7
32.5
740.5
118.5
622.0
588.8
33.3
756.5
117.5
639.0
596.0
43.1
767.4
119.9
647.5
605.8
41.7
65.47
28.51
14.06
14.45
67.76
28.37
14.12
14.25
75.56
31.68
15. 96
15.72
16.69
7.33
3.56
3.77
16.20
6.88
3.40
3.48
18.12
7.77
3.96
3.81
15.10
6.15
3.06
3.09
16.85
6.99
3.36
3.63
16.79
7.13
3.54
3.59
19.03
8.10
4.16
3.94
16.04
6.58
3.36
3.22
18.81
7.82
3.98
3.84
19.25
8.16
4.03
4.12
' 21. 46
'9.12
'4.59
'4.53
36.96
1.65
1.86
2.29
1.48
8.74
6.75
2.00
6.34
14.59
39.40
1.63
1.45
2.56
1.59
10.20
7.66
2.54
6.83
15.14
43.88
1.86
1.86
2.51
1.68
11.61
8.94
2.67
8.30
16.05
9.36
.39
.45
.72
.38
2.18
1.65
.53
1.60
3.65
9.32
.44
.41
.56
.41
2.35
1.71
.64
1.57
3.59
10.35
.47
.50
.64
.38
2.59
2.08
.51
1.73
4.04
8.95
.42
.39
.68
.30
2.07
1.69
.38
1.59
3.50
9.86
.43
.37
.58
.42
2.62
1.94
.68
1.62
3.81
9.66
.39
.31
.64
.41
2.61
1.87
.74
1.61
3.69
10.93
.40
.38
.66
.47
2.90
2.16
.74
2.00
4.13
9.45
.42
.38
.68
.38
2.36
1.88
.48
1.81
3.41
10.99
.48
.44
.66
.46
2.99
2.22
.77
2.00
3.97
11.10 '12.34 ' 10. 51 12.32
.47
'.49
.47
.41
.54
'.55
.49
'.45
.80
.53
'.64
'.69
.40
.40
'.44
'.37
3.52
'3.23 '2.67
3.03
2.82
2.23
'2.61 '2.28
.70
'.62
.80
'.39
2.39
2.11
26.60
'4.60
4.07
'25. 93
do
do
do
do
65.60
29.16
14.26
14.90
65.48
27.85
13.92
13.93
65.66
27.51
13.71
13.80
66.29
68.09
28.02 . 27.84
13.51
14.11
14.33
13.91
67.77
28.86
14.47
14.40
69.05
28.70
14.39
14.31
72.52
29.99
15.47
14.52
73.94
31.16
15.98
15.18
77.84
33.05
16.53
16.52
do
do
do
do
do
do
do
do
do
do
36.45
1.52
1.78
2.43
1.38
8.51
6.48
2.04
6.30
14.53
37.62
1.76
1.72
2.35
1.66
8.86
6.86
1.99
6.49
14.80
38.15
1.78
1.82
2.79
1.41
9.46
7.47
1.99
6.37
14.54
38.45
40.07
1.66
1.80
1.49
1.68
2.88
1.98
1.49
1.43
10.24
10.08
!
7.64
7.76
2.32 | 2.60
6.42
6.83
15.17
15.37
38.91
1.57
1.29
2.69
1.65
9.82
7.50
2.32
6.67
15.22
40.35
1.52
1.34
2.87
1.75
10.63
7.74
2.89
7.34
14.91
42.53
1.83
1.68
2.89
1.87
11.52
8.62
2.90
7.74
15.00
42.78
1.88
1.76
2.22
1.66
11.68
8.71
2.97
7.92
15.67
44.80 ' 45. 46 ' 47. 02
' 1.85 '1.77
1.89
'1.94
'1.94
2.06
'2.95
2.23 '2.80
'1.63
' 1. 79
1.65
11.48 ' 11. 80 ' 12. 80
'9.36 ' 10. 46
8.98
'2.34
'2.44
2.50
8.76
8.71
16.78 ' 16. 67 '225.77
11,484
7,723
335
1,580
1,846
11,577
7,669
239
1,801
1,868
11,667
7,601
332
1,879
1,855
1
11,934 12, 668 13,344
7,941 I 8, 395 1 8, 879
406
305
353
2,040
1,771
1,973
2,019
1,917
1,947
~ H
~~rl
~ ~dr»
*j
1
"I
do
do
do
do
Less: Personal tax and nontax payments
do
Equals" Disposable personal income
do
Less* Personal outlays©
do
Equals' Personal savings
do
NEW PLANT AND EQUIPMENT
EXPENDITURES
Unadjusted quarterly or annual totals :t
All industries
bil. $
Manufacturing
do
Durable goods industries 1
do
Nondurable goods industries ^
do
Seas. adj. qtrly. totals at annual rates:}:
All industries
Manufacturing
Durable goods industries H
Nondurable goods industries ^
672.0
467.4
Net interest
do
DISPOSITION OF PERSONAL INCOME
Quarterly Data Seasonally Adjusted at Annual Rates
Nonmanufacturing
Mining
Railroad
Air transportation
Other transportation
Public utilities
Electric
Gas and other
658. 5
423.5
337.3
16.2
70.0
43.9
61.9
47.2
14.7
20.8
Transportation, communication, and public
utilities
bil $
Corporate profits before tax total
Corporate profits tax liability
646.2
do
do
do
t f 1
p771. 1
do
do
do
Corporate profits and inventory valuation adjustment total
bil $
By broad industry groups:
TVT
714.4
do
do
do
do
do
do
do
do
do
.
BALANCE OF INTERNATIONAL
PAYMENTScf
Quarterly Data Are Seasonally Adjusted
(Credits +; debits -)
Exports of goods and services (excl. transfers under
military grants).. _ _
.
_
mil. $ 1 46, 189
j 30, 681
Merchandise, adjusted, excl. military
do
1,239
Transfers under military sales contracts
do
6,872
Income on U.S. investments abroad..
do
7,397
n
'
'
'
'
i 20. 79
8.47
4.33
4.14
117. 76
'7.25
'3.68
'3.56
77. 84 'i 80. 00 i 81. 78
32. 39 ' 32. 97 33.74
15. 88 ' 16. 92 17.39
16. 50 ' 16. 05 16.34
48.04
1.82
2.19
2.70
1.42
13.74
11.07
2.68
2 26. 16
U.S.
50, 599 P55, 387
33, 598 |P36,487
1,428 pi, 503
7,701 p8, 897
7,872 P8, 500
-41,012 -48,077 p-53,31 -10,033
Imports of goods and services
do
j-26,821 -32,972 i p-35,79 -6,465 -6, 542
Merchandise, adjusted, excl. military _
do
1 -4,378 -4, 530 p-4,88 -1,075 -1,106
Military expenditures
do
-580
-591
! -2,362 -2,932 p-4,43
Income on foreign investments in the U.S_.do
| -7,451 -7,643 .-8,20 -1,902 -1,945
Other services
do
Unilateral transfers, net (excl. military grants);
-836
-823
transfers to foreigners (— )
mil. $ 1 -2.998 -2,865 |p-2,51
T
Revised.
v Preliminary.
1 Estimates (corrected for sy stematic 1 )iases) fo r Jan.-M ar.
1970 and Apr.-June 1970 based on expected capital expcnditi res of bu siness. E xpected expenditures for the year 1970 are as follows (in bil. $): All ind ustries, 83.58; mailufactun ng
total, 34.80; durable goods industries, 17.61; nondurable good s industri es, 17.19 nonmai1Ufacturing, total. 48.77; mining, 1.94; railroad, 2.36; air transportat ion, 2.91; ()ther trar isportati on,
1.64; public utilities, 13.73; electric,
11.15; gas and other, 2.58; coinmercial and othe - (includ ng
2
communication), 26.19.
Includes communication.
9 I ncludes i nventorj7 valuat on
adjustment.
12, 653 r 11,919 ' 14,254 ' 14,553 Pl4, 661
8,383 r 7, 478 ' 9, 599 ' 9, 581 p9, 829
p341
'417
'414
'331
364
1,917 ' 2, 117 ' 2, 148 ' 2, 362 p2, 270
1,989 r 1,910 ' 2, 176 ' 2, 193 P2, 221
-12,435 -12,352
-10,706 -11,463
-7,154 -7,817 -8,131 -8, 566 -8, 458
-1,112 -1,102 -1,116 -1,143 -1,169
-749
-742
-770
-607
-671
-1,833 -1,873 -1,838 -1,956 -1,976
1
-648
-635
-690
-766 I
-774
^-11,571
'-7,579
-1,204
' -893
'-1,895
'-13,964
'-9,599
-1,208
'-1,087
'-2,070
-13,84 7
-9,243
-1,220
-1,255
-2,129
p-13,93
p-9,37
p-1,24
p-1, 19
p-2,11
-601
-793
' -687
p-732
!
and an nual anc quarter ly data b ack to 1947 appear
}R evised S6,ries; expl anation ()f revisio is
EY; see iilso pp. 19 ff. of t he Febnjary 1970 SURVEY.
on pp. 25 ff. of the Jeinuary 11)70 SURV
e 'ersonal outlays c omprise r>ersonal c onsump ;ion expe nditures, interest ] Daid by consumers,
and personal transfer payment s to forei gners.
§P ersonal s aving is (excess of iisposab e income over pei•sonal ou tlays.
goods ii idustries componcjnts appear in tee
irr)ata for ndividmil durabl e and nondurable
Mar ., June, iSept., anc [ Dec. iss ues of th e SURVE r.
ly
reviewrs in the Itfar., Jun e, Sept., and Dec.
e
quarter
ven
in
th
ails
are
gi
plete
det
Vlore
com
d"!
issue s of the SURVEY.
SURVEY OF CUKEENT BUSINESS
March 1970
1967
Unless otherwise stated in footnotes below, data
through 1968 and descriptive notes are as shown in
the 1969 edition of BUSINESS STATISTICS
1968
1967
1969
Annual total
1968
IV
III
II
S-3
1969
II
I
III
IV
I
1970
II
IV
III
I
II
GENERAL BUSINESS INDICATORS—Quarterly Series—Continued
U.S. BALANCE OF INTERNATIONAL
PAYMENTS §— Con.
Quarterly Data Are Seasonally Adjusted
Transactions in U.S. private assets, net; increase
(-)
mil. $__
Transactions in U.S. Govt. assets, excl. official
reserve assets; increase ( — )
mil. $
Transactions in U.S. official reserve assets, net;
increase ( — )
mil $
Transactions in foreign assets in the U.S., net (U.S.
liabilities); increase (+)
mil. $
Liquid assets
do
Other assets
do
Errors and omissions net
do
Balance on liquidity basis— increase in U.S. official
reserve assets and decrease in liquid liabilities to
all foreigners' decrease ( — )
mil. $
Balance on official reserve transactions basis— increase in U.S official reserve assets and decrease in
liquid and certain nonliquid liabilities to foreign
official agencies; decrease ( — )
mil. $
-5,654 -5, 158 p-5,011 -1,014 -1,775 -1,797
-806
-2,419 -2,250 p-2,215
-738
52
-880
v- 1,187
6,853
3,492
3,361
-1,007
9,277 pl2, 115
712
»8, 245
8,565
p3, 870
-641 p-2,964
-3, 544
168 p-7,058
-3, 418
1,638
1968
1969
Unless otherwise stated in footnotes below, data
through 1968 and descriptive notes areas shown in
the 1969 edition of BUSINESS STATISTICS
p2, 712
-542
-419
1,970
749
1,221
-624
-330
-719
-546
375
2,198
1,406
792
-69
-677
-181
904
2,350
1,869
481
-6
-1,031 -1,688
-71
-917
1,215
-340
1,555
-410
-947
' -1,357 r
-2,051
-639
-527
-346
-463
-648
-137
-571
-1,076
2,645
2,515
710
1,805
309
-1,537 -1,868
128
2,517
-480
-564
9
-379
1,553
-139
97
2,902
' -1,279 p -324
r
-299
-48
-657 p -447
-686 p -154
r 3, 635
' 1, 723 ' 4, 187 r 3, 294 p
' 1, 638
'351 r '341 p
-60 ' -1,239 ' -1,039 -1,034
p 581
-959
1,540
p 348
' 3, 361 ' 4, 538
214
2,688
862 ' -1,675 ' -3,888 r -2,608 p 1,113
367 ' -1,132 ' 1, 226
••-927 p 1,281
1970
1969
Annual
Jan.
Feb.
Mar.
May
Apr.
June
July
Aug.
Sept.
Oct.
Feb.p
Jan.
Dec.
Nov.
GENERAL BUSINESS INDICATORS—Monthly Series
PERSONAL INCOME, BY SOURCE
Seasonally adjusted, at annual rates:
Total personal income
bil. $
465.0
509.9
718.7
723 9
730 7
735.3
740.0
746.1
751.4
757.5
760.7
763.9
767.6
770.6 r 774. 3
777.6
519.9
201.5
160.7
121.8
522.2
201.8
160.6
122.3
525.1
201.7
159.8
123.5
527.8 ' 530. 1
203.4 ' 201. 3
161.0 r 160.1
123.5 r 125. 9
531.8
201.0
158.9
126.3
492.6
497.9
500.8
508.5
190.6
152.5
115.6
193.8
154.9
116.4
195.2
155.8
117.2
503.8
190.1
152.4
114.6
196.2
156.3
118.3
198.3
157.8
119.5
512.8
198.9
158.5
120.1
88.1
104.5
26.2
84.5
100 1
25 3
85.6
100 8
25 5
86.3
101 4
25 6
86.4
101.9
25.8
87.0
102.3
25.9
87.8
102.9
26.1
88.0
105.9
26.3
88.8
106.8
26.4
89.4
107.2
26.6
90.3
107.8
26.8
91.5
108.4
26.9
91.9
109.0
27.1
49.2
14.6
50.2
16.1
49.5
14.5
49.8
14.9
49.7
15.3
49.8
15.8
50.1
16.4
50.4
16.9
50.5
16.8
50.5
16.8
50.5
16.8
50.6
16.7
50.4
16.3
21.2
23.1
54.1
59.2
21.6
24.6
59.4
65.5
21.4
23 6
57.4
63.0
21.5
23 8
57.6
63.5
21.5
24.1
57.9
64.3
21.5
24.2
58.3
64.7
21.6
24.3
58.8
64.9
21.6
24.5
59.2
65.2
21.7
24.6
59.5
65.7
21.7
24 8
59.8
66.1
21.7
25.1
60.2
66.4
21.8
25.3
60.8
66.7
21.8
25.4
61.3
67.2
22.6
26.2
25.3
25.3
25.6
25.7
25.8
26.1
26.4
26.6
26.7
26.9
26.9
667.9
725.2
698.5
703.1
709. 5
713.5
717.7
723.4
728.8
734.9
738.1
741.5
47, 848
51 231
3,902
3,168
3,338
3,284
3 342
3 418
4 153
5 034
5,787
44, 386
18, 847
25, 539
3,844
3,042
3,117
3,135
3,306
870
3,407
3,795
3,844
4,532
1 494
2 350
'502
1 446
2,580
499
3,827
47, 431
18, 939
28 492
6,143
17 584
4 384
381
393
137
136
146
137
142
129
168
169
181.5
145.9
109.2
197.7
157.6
119.5
do
do
do
78.3
96 0
24.2
do
do
Rental income of persons
do
Dividends
do
Personal interest income
do
Transfer payments. _
do
Less personal contributions for social insurance
bil. $__
Total nonagricultural Income
747.2
517. 9
201.0
160.5
121.4
Wage and salary disbursements, total
do
Commodity-producing industries, total. do
Manufacturing ._ _
do
Distributive industries. _ . _
do
Service industries
Government
Other labor income
Proprietors' income:
Business and professional
Farm
687.9
do
489.3
••93.3
27.3
94.4
110.1
27.5
50.3
15.9
50.3
16.0
50.3
16.2
21.9
25.0
61.8
67.8
21.9
25.2
62.1
-•68.9
22.0
25.2
62.4
70.0
27.1
27.5
27.6
745.3
748.6 r 752. 2
755.3
5,977
5 167
4,661
5,630
2,764
2,866
516
5,146
4,633 r 4, 186 p
2,176 »• 1, 635 p
2,457 ' 2, 551p
511
'543
1,474 »• 1 550 p
441
r 415
r 109.
6
FARM INCOME AND MARKETINGS
Cash receipts from farming, including Government
payments, total
mil $
Farm marketings and CCC loans, total
do
Crops.... _ _ do
Livestock and products, total 9
do
Dairy products
_
do
Meat animals
do
Poultry and eggs. _
do
Indexes of cash receipts from marketings and CCC
loans, unadjusted:
All commodities
1957-59 = 100..
Crops
do
Livestock and products. _
_
do
Indexes of volume of farm marketings, unadjusted
All commodities
1957-59=100..
Crops
_
___
do
Livestock and products
do
5,962
15, 406
138
154
126
130
127
131
124
2,182
513
2,022
462
518
893
2,242
524
1 309
1, 219
1,295
1,356
1,634
2, 210
344
142
142
143
132
146
1,020
297
113
88
131
98
81
935
331
116
81
141
96
66
124
122
110
118
165.5
p 172. 8
166.5
170.5
173.1
166.9
169.8
163.3
126.6
202.5
p
p
p
P
p
173
176
170
130
221
9
5
6
2
3
167 0
171 4
161 4
124 1
172 1
175 3
168 0
124 2
175 1
178 6
170 8
125 4
165.1
156.9
175.0
151 2
182.6
P
p
P
P
p
170
162
179
157
188.
f)
6
5
2
6
166 6
158 9
183 9
150 9
183.1
169 3
161 8
186 0
154 1
185.4
165 8
157.8
174.1
p 174 5
p 165. 5
P 183. 9
166 4
157.0
176.2
171 5
162.8
180.6
319
116
77
145
94
59
121
1,058
2 436
2,349
533
1 523
1 471
552
318
315
123
75
126
92
158
152
97
57
104
83
1,410
2,385
517
1 453
391
141
122
155
124
127
152
123
125
1,952
1,667
167
144
160
133
496
1,900
1,471
427
427
3,349
1,028
2,321
p 507
1,431
p 338
209
239
191
237
172
189
159
154
142
164
p 124
p 89
p 150
187
237
171
235
152
194
121
133
»• 146
' 123
P 99
p 83
p 111
186
156
149
127
121
122
171.9
172.4
176.7
167.7
174.6
179.2
177.8
173
177
168
130
7
7
6
2
174 4
178 3
169 5
132 9
178 5
182 2
173 9
134 6
167 3
169 7
164.3
127 9
174 3
173 6
1759 0
13 3
180 0
181 5
178. 1
132 9
179 5
181 5
176.9
132 7
171 9
163 9
189 1
156 0
189.0
168 6
159 0
183 0
151 4
189.1
168 4
158 2
182 1
150 5
190.4
174 0
165 5
191 1
157 3
192.4
166 4
156 5
155 7
156 8
187.7
173 4
166 3
160 4
168 2
188.5
179 2
179 6
186 9
168 0
193.4
176 5
169 4
192 1
16° 2
191. 8
174 3
165.9
182.8
174 8
166.4
183.4
176 1
167.4
185.0
179 2
171.6
187.0
168 8
160.5
177.3
175 6
166. 2
185. 3
1 79 ''
1 70. 2
1 88, 5
J7g 9
169. 7
188.4
121
2,733
2, 413
4,242
124
INDUSTRIAL PRODUCTION d*
Federal Reserve Index of Quantity Output
Unadj., total index (incl. utilities)rf1..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
Materials
_ _
Durable goods materials
Nondurable materials
r
Revised.
p Preliminary.
do
do
do
do
do
do
do
do
§ Seenote "c?1" on p.
S-2.
cf Revisions for Jan.-Oct. 1968 will be shown late.
separately.
r 173. 6
r 169.
7
' 167. 8
169.8
r 175.
r 169.
8
r 166.
169.4
170.4
168.3
133.8
r
r
0
175.4 *• 172. 7
166.2
174. 5
r 132. 6
132 9
' 170 0 ' 166. 2
r 162 6
r
175. 9
T 158 4
186.0
r 17(J ()
r 166. 3
r 156.
r 167.
5
3
153. 1
' 168. 2
165. 1
r
r 131.3
r 166. 2
' 158. 3
' 165. 7
168.7
160. 1
169
r 183. 2
187. 1
111 9 ' 169. 8
171.5
158
186
r 187.
r
8
0
' 162. 0 r 156. 9
•• 187. 8 r 184. 1 r 183. 1
9 Includes data for items not shown
SURVEY OF CURRENT BUSINESS
S-4
Unless otherwise stated in footnotes below, data
through 1968 and descriptive notes are as shown in
the 1969 edition of BUSINESS STATISTICS
1968
1969^
Annual
March 1970
1969
Jan.
Feb.
Mar.
Apr.
May
June
1970
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.p
GENERAL BUSINESS INDICATORS—Continued
1
INDUSTRIAL PRODUCTION^ — Continued
Federal Reserve Index of Quantity Output— Con.
165.5
172.8
169.1
170.1
171.4
171.7
172.5
173.7
174.6
174.3
173.9
173.1
171.4
166.9
173.9
170.2
171.8
173.1
173.0
173.8
174.8
175.6
175.4
175.2
173.9
' 171. 8
do
do_.
do
do
169.8
137.0
130.7
160.0
176.5
149.1
140.2
181.4
173.0
139.5
126.8
179.6
174.5
143.6
133.7
183.4
175.9
146.2
139.0
186.9
175.7
147.9
141.2
186.2
176.7
149.3
141.6
184.3
178.3
153.1
145.6
190.8
178.7
152.4
145.3
181.8
178.8
151.3
141.1
177.9
178.7
149.3
141.4
178.6
177.3 ' 172. 1 r 171. 1
150.3 r 148. 9
150.4
141.5 ' 142. 7 r 138. 8
178.7 r 183. 1 ' 194. 3
Fabricated metal products
Structural metal parts
do. _ _
do
167.9
162.2
179.9
173.4
176.4
170.1
177.6
174.5
178.5
175.8
178.3
174.4
179.2
173.1
180.6
173.8
179.1
170.8
180.6
171.5
179.1
171.5
179.4
172.5
«• 179. 5
' 175. 2
177
174
Machinery
__ _
Nonelectrical machinery
Electrical machinery.
do
__ _ __do _ _
do
184.3
181.0
188.5
195.6
194.6
197.0
191.8
188.3
196.4
192.7
189.6
196.9
194.7
190.2
200.7
194.6
190.8
199.5
196.9
193.1
201.8
197.2
195.3
199.6
198.1
196.0
200.8
199.4
195.5
204.5
201.2
199.8
202.9
199.0 r 187. 4 r 188. 4 r 190. 3
200.3 r 194. 9 ' 196. 3 r 197. 7
197.3 ' 177. 5 ' 178. 0 ' 180. 5
195
199
190
Beas. adj., total index (incl. utilities) d*. 1957-59 = 100.
By industry groupings:
Manufacturing, total
do
Durable manufactures 9
Primary metals _ _ _ .
__
Iron and steel
Nonferrous metals and products
179.2
174.5
171.1
r 171.
r 178.
r 177.
2
5
1
168.3 r 163. 9
152.0
159.9
171.9 ' 170. 7
r 170.
2
169.4
r 170.
0
169.0
r 169. 6
r 143. 6
169.1
138
129
134.5
179.7
158.3
145.6
165.3
156
141
166
Transportation equipment 9 _ - Motor vehicles and parts
Aircraft and other equipment
do _
do
do
179.5
171.4
185.0
174.6
166.9
177.8
171.2
167.3
170. 9
173.1
167.7
174.1
174.1
167.6
176.0
172.4
160.8
178.7
171.8
156.8
180.8
176.6
169.1
179.5
181.1
174.2
183.4
179.1
174.1
180.3
178.8
170.5
182.6
175.7
167.9
179.6
Instruments and related products
Clay, glass, and stone products _
Lumber and products
Furniture and
fixtures
_
Miscellaneous manufactures
do
do
do
do_
do
184.2
146.2
122.3
178.3
161.4
194.5
156.0
118.7
186.9
166.8
191.6
156.2
122.5
186.8
166.2
190.4
156.5
126.7
186.5
164.7
192.8
153.4
130.8
187.0
165.7
195.4
155.1
122.6
188.9
167.6
195.3
156.9
120.7
190.2
167.5
195.7
155.2
115.5
189.9
168.1
194.7
152.7
113.4
185.0
167.4
194.9
155.3
114.1
186.5
165.8
195.4
157.7
111.1
185.3
165.3
193.9
156.3
113.8
184.0
165.3
do
do
163.3
151.5
149.9
111.0
163.8
170.6
154.1
149.6
101.7
175.7
166.7
152.9
148.1
105.0
171.1
168.3
152.0
147.9
101.3
173.9
169.5
152.9
150.2
105.6
175.0
169.6
154.2
147.8
103.4
175.8
170.3
156.5
150.0
107.6
174.9
170.5
157.8
149.2
104.7
175.3
171.8
157.0
150.7
98.4
176.4
171.3
153.0
148.8
100.0
177.5
170.9
151.6
146.1
97.7
177.5
169.5 r 171. 5
152.1 r 151. 9
146.5 r 148. 0
102.7
101.1
177.1 •• 175. 9
do _.
do
149.6
136.1
156.4
142.7
152.4
141.2
152.1
141.7
153.0
141.4
152.7
137.5
155.9
142.8
156.5
141.3
158.3
145.6
158.2
144.4
157.3
143.3
156.9
143.0
Chemicals and products
do
221.7
262.0
239.0
283.0
231.3
273.4
234.4
276.7
235.2
277.7
239.1
283.3
239.5
285.2
239.7
286.1
243.1
288.6
238.1
281.5
240.2
286.2
238.3 r 240. 8 r 242. 4
285.2
281.2 r 283. 9
242.0
Petroleum products
do
139.6
143.8
131.0
140.2
142.7
142.2
143.5
145.4
143.5
144.5
146.2
146.7
146.3
142.2
222.0
136.4
132.7
156.5
238.3
140.7
136.8
161.8
230.8
139.4
136.1
157.4
232.8
140.9
137.2
160.9
236.2
141.5
136.7
167.2
234.2
140.5
136.7
160.6
237.0
138.6
136.6
149.4
237.3
138.3
136.1
149.8
238.3
139.9
135.8
161.7
239.9
143.1
137.8
171.3
240.0
142.2
137.0
169.9
238.6
138.0
132.6
166.7
234.9
240.2
141.0 r 142. 5
137.5 »• 137. 5
169.2
159.7
143.9
139.2
do
120.9
117.2
119.5
121.2
118.7
110.5
115.4
121.9
120.3
114.8
118.6
113.8
do
do
_ do
do
do
do
126.6
118.2
126.8
130.5
126.4
137.8
130.2
117.7
129.4
132.0
142.1
144.6
125.8
115.3
123.9
124.0
140.2
143.5
124.8
112.4
121.8
124.0
142.7
149.2
126.7
114.3
123.5
127.0
149.1
150.5
128.8
120.2
126.9
130.2
146.6
141.4
130.3
123.9
129.6
133.1
134.5
141.2
134.4
124.8
134.8
139.2
137.4
142.6
133.2
130.0
132.1
135.5
138.1
142.2
131.2
122.1
130.2
132.4
142.3
142.8
131.6
114.7
133.1
135.6
133.1
144.3
130.2
115.7
130.7
132.8
141.1
139.6
do
do
do
202.5
211.5
174.1
221.3
232.9
215.1
226.1
214.9
225.5
215.1
225.7
216.3
226.9
213.6
223.1
215.6
225.9
222.2
234.2
222.6
234.4
222.5
234.1
226.0 r 226. 0 r 227. 9 ' 230. 6 231.0
238.5 ' 238. 3 240.5
By market groupings:
Final products, totaled
. _ _ do
Consumer goods
do
Automotive and home goods. _ _ do
165.1
156.9
175.0
170.9
162.6
179.5
168.2
161.0
181.0
169.3
161.7
179.6
170.8
162.8
181.8
170.2
161.8
177.9
170.0
160.7
177.6
170.7
161.5
183.0
172.8
164.4
184.5
172.7
164.2
182.4
172.2
162.8
179.3
170.9
161.2
176.8
r 168.
r 160.
r 167.
Automotive products .
do
Autos
do
Auto parts and allied products___do
Home goods 9_
_._ _ do
Appliances, TV, and radios
..do
Furniture and rugs
do
174.3
174.8
173.8
175.4
168.4
173.7
173.1
162.8
186.7
183.9
179.8
180.2
176.2
170.6
183.5
184.3
177.7
184.3
174.7
165.0
187.6
183.0
179.1
181.2
175.4
165.0
189.0
186.3
182.9
182.0
166.1
149.6
187.9
186.1
182.0
183.3
165.8
148.9
188.0
185.9
182.0
183.4
178.7
168.3
192.3
186.1
180.2
184.0
184.6
178.7
192.4
184.4
181.8
180.0
179.5
178.4
181.0
184.5
181.9
179.7
176.6
169.9
185.4
181.2
176.5
177.9
172.8
164.0
184.4
179.5
175.2
175.7
168.0
153.8
' 186. 7
6
186.8
167.4
142.6
174.5
Apparel and staples
do
Apparel, incl. knit goods and shoes.. do
Consumer staples
do
Processed foods
do
151.2
139.5
154.5
132.6
157.2
138.8
162.5
136.6
154.7
140.8
158.6
134.8
156.0
141.4
160.2
136.7
156.8
142.9
160.8
136.4
156.6
140.6
161.2
137.1
155.3
141.5
159.2
136.4
154.7
137.4
159.6
136.1
158.1
140.9
162.9
135.3
158.4
138.0
164.1
138.8
157.6
135.9
163.7
137.9
156.2 ' 158. 3 159.5
136.4 r 137. 5 r 137.2
161.8 ' 164. 2 165. 8
136.5 ' 137. 1
132.3
166.9
139.1
144.5
193.4
143.3
183.4
146.8
209.1
147.2
199.6
144.6
203.7
146.3
190.0
147.5
203.7
145.7
192.0
150.9
205.0
143.3
193.6
143.7
209.9
145.9
194.1
137.9
208.0
147.3
189.8
140.4
206.1
146.3
192.7
147.8
211.9
147.5
201.6
152.3
207.2
147.6
201.1
152.6
208.6
149.8
198.6
148.9
210.4
147.1
203.9
182.6
184.7
168.2
205.2
234.3
145.0
188.6
195.6
179.1
220.0
246.7
137.0
183.5
191.4
175.9
209.9
245.5
136.1
185.5
191.9
175.7
214.3
244.4
133.0
187.8
192.9
176.7
217.3
242.3
135.6
188.4
194.1
178.6
220.1
239.7
133.9
190.0
195. 7
180.9
221.7
238.4
134.9
190.4
197.0
182.7
221.0
240.8
135.2
190.8
196.9
181.2
220.5
250.5
124.4
190.3
197.0
180.3
221. 3
249.7
136.0
192.4
200.4
183.9
222.9
251.9
146.8
191.9
200.9
182.9
224.9
254.5
153.1
do
do.__
do_._
do
do...
165.8
157.8
164.2
185.1
145. 9
174.5
165.5
163.9
191.9
152.3
169.6
161.2
162.2
187.4
153.5
170.8
162.6
167.7
189.3
154.2
172.1
164.0
163.2
190.7
154.5
172.9
165.8
157. 9
190.3
153.2
174.5
165.5
156.6
191.7
153.0
176.3
167.0
162.7
193.2
151.7
176.5
167.0
163.0
193.2
150.0
175.9
167.3
169.5
195.1
149.9
176.0
166.6
171.7
197.2
149.8
175.4
165.8
166.4
194.8
149.6
do._
.__ do
do
do. _ .
174.1
157.6
156.6
158.1
183.9
166.6
168.6
165.5
178.3
164.2
167.4
162.6
179.2
164.4
168.1
162.5
180.3
165.3
170.4
162.7
180.3
162.3
165.0
160.9
183.7
165.9
168.2
164.7
185.9
166.3
167.5
165.7
186.4
167.1
165. 5
167.9
184.7
167.4
166.7
167.8
185.5
167.0
167.8
166.6
185.3 r 186. 0
167.4 ' 166. 9
169.9 r 165. 6
166.1 ' 167. 6
r 186.
r 167.
r 166.
r
3
8
7
152.0
158.2
Business fuel and power 9
do__.
Mineral fuels
do
133.0
134.9
Nonresidential utilities
do...
200.2
T
Revised.
» Preliminary.
cfSee correspond]ng note o a p. S-3.
151.8
127.8
211. 5
152.3
127.7
212.5
153.7
130.2
211.7
159.4
159.8
159.3
161.6
156.9
162.8
137.7
136.5
137.4
139.7
134.2
141.8
221.1
217.3
214.9
216.7
216.1
213.7
9lricludes d ata for it ems not shown se parately
160.4 r 160. 4
136.5
135. 7
222.8 r 220. 9
r 161.
2
Nondurable manufactures
Textile mill products
do___
do
Leather and products
Paper and products
Printing and publishing
Newspapers
_
. _
Rubber and plastics products
Foods and beverages
Food manufactures
Beverages
do
.do _
do
do
Tobacco products
Mining _
Coal.
._
Crude oil and natural gas. _
Crude oil
Metal mining
Stone and earth minerals
_
__
Utilities
Electric
Gas
Beverages and tobacco
Drugs, soap, and toiletries
do
do
Consumer fuel and lighting
do
Equipment, including defense 9
do
Business equipment
do__
Industrial equipment
do
Commercial equipment
do
Freight and passenger equipment.. do
Farm equipment
do
Materlalscf
Durable goods materials 9
Consumer durable
Equipment
_
Construction.
Nondurable materials 9
Business supplies
Containers
General business supplies
_
.
194.8
r 197. 4
r 156. 7
' 154. 7
114.1
109.7
183.7 ' 183. 3 ' 183.3
166.4
167.2
166.5
r 196. 0
r 155. 9
159.1
145.1
r 150.
9
116.2
171.4
r 150.
7
147.2
98.0
176.3
r 158.
6
142.0
' 170. 6
151.1
158.5
141.7
r 166.
r 142.
7
2
176.0
r
' 168. 4 ' 168. 2
' 160. 7 r 161. 0
162.8
'•164.2
r 160.
4
141.6
r 185. 0
r 167. 0
•• 140. 1
r 175.
r 156.
r 132.
2
9
145.0
213.2
148.9
206.0
151.0
' 217. 0 216.3
' 149. 7 147.9
205.7
185.6
r 185.
r 193.
r 194. 4
r 174. 4
169.0
157
115.1
6
4
5
2
179
167
169.5
" 133. 8 ' 133. 2
119.3 r 113. 1
118.9
'
' 131. 2 132. 0 132.2
134.7 r 134. 6
133.5
153.4
153.3 r 150. 6
153.7
146.8 ' 154. 8
r 132.
191
155
1
6
r 183. 1
r 192.
2
' 176. 3 175.0
222.8
223.3 r 223. 6
236.3
252.8 240.9
132.7
136. 5
172.5
r 173. 9
6
163.5 ' 161. 9 ' 159. 6
145.7
158.5 r 150. 9
188.6
190.7 r 189. 8
150.2 ' 149. 9 149.9
r 174.
168. 3
137.1
222.5
r 185.
8
134.3
122
132
133
168.2
160.2
163
152
128
166
185.6
195
170.4
158
184
167.0
168.5
166.2
161.0
136.0
162
137
SURVEY OF CURRENT BUSINESS
March 1970
Unless otherwise stated in footnotes below, data
through 1968 and descriptive notes are as shown in
the 1969 edition of BUSINESS STATISTICS
1968
1969
1969
Annual
S-5
Jan.
Feb.
Mar.
Apr.
May
June
1970
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
GENERAL BUSINESS INDICATORS—Continued
BUSINESS SALES §
Mfg and trade sales (unadj ) total
mil $
1,162,985 1,243,676 93, 231
95, 642 102,332 103,386
105,368 107,145
99, 535 102,861 107 ,212
111,053 105,392 ••110,580 97, 148
Mfg and trade sales (seas, adj.), total
do
1,162,985 1,243,676 100,103 101,358
101,475
102,319
103,232 104,127 104,201 104,644 105,903
106,907 105,666 ••104,758 104,666
Manufacturing , total
Durable goods industries
Nondurable goods industries..,
do
do
do
603, 718 i 655, 335 52,801
330, 951 363, 601 29, 325
272, 767 291, 734 23, 476
53, 302
29, 914
23, 388
53, 078
29,530
23, 548
53, 298
29, 643
23, 655
53,741
29,573
24,168
54, 786
30, 136
24, 650
55, 392
30, 605
24, 787
55, 239
30, 868
24, 371
56, 434
31, 742
24, 692
56, 999
31, 889
25, 110
55, 988 r 55,277 55, 185
30, 944 'r 30,201 '27,900
25, 044 25,076 25, 173
Retail trade, total
Durable goods stores
Nondurable goods stores
do
do
do
-339,324 i 351, 633 28, 955
110,245 112, 779
9,446
"229,079 238, 854 19, 509
29, 257
9,597
19, 660
28, 881
9,377
19, 504
29, 409
9,575
19, 834
29,386
9,481
19,905
29, 371
9,545
19, 826
29, 090
9,141
19, 949
29,346
9,161
20, 185
29, 259
9,384
19, 875
29, 620
9,354
20, 266
29,471 ' 29,419
9,229 ' 9,275
20, 242 ' 20,144
29, 304
8,852
20,452
Merchant wholesalers, total
Durable goods establishments
Nondurable goods establishments
do
do
do
219, 943
100, 012
119, 930
236, 708
109, 578
127, 130
18, 347
8,555
9,792
18, 799
8,938
9,861
19, 516
9,071
10, 445
19, 612
9,132
10, 480
20,105
9,307
10,798
19, 970
9,263
10, 707
19, 719
9,114
10, 605
20, 059
9,178
10, 881
20, 210
9,304
10, 906
20,288
9,359
10, 929
20, 207 r 20,062
9,352 ' 9, 102
10, 855 ' 10,960
20, 177
9,139
11, 038
Mfg. and trade inventories, book value, end of year
or month (unadj ) total
mil $
152, 072
164, 087
153,246 155,475 157,745 159,365 160,104 159,762 159,719 159,772 161,368 164, 196
166,012 '164,087
164, 380
Mfg. and trade inventories, book value, end of year
or month (seas adj ) , total
mil $
153, 764
166, 106
154,086 155,339 156,401 157,477 158,602 159,264 160,631 161,659 162,733 164,250
164,974 ••166,106
165, 630
88, 579
57,422
31, 157
42, 657
19, 461
23, 196
22, 528
13, 454
9,074
95, 905
63, 550
32, 355
45, 838
20, 597
25, 241
24, 363
14, 579
9,784
88, 905
57, 879
31, 026
42, 740
19, 622
23, 118
22, 441
13, 373
9,068
89, 556
58, 282
31, 274
43, 014
19, 487
23, 527
22, 769
13, 532
9,235
90, 317
58, 978
31, 339
43,004
19, 542
23, 462
23, 080
13, 681
9,399
91, 018
59, 426
31, 592
43, 118
19, 567
23, 551
23,341
13, 860
9,481
95, 416
63,076
32, 340
45, 537
20, 602
24, 935
24, 021
14, 389
9,632
96, 165
63, 984
32, 181
45, 157
20, 075
25, 082
24, 308
14, 566
9,742
2
30, 500
BUSINESS INVENTORIES §
Manufacturing, total
Durable goods industries
Nondurable goods industries
Retail trade, total
Durable goods stores
Nondurable goods stores
Merchant wholesalers, total
Durable goods establishments
Nondurable goods establishments
do
do
do
do
do
do
do
do
do
92,139 92, 215
60,222 60, 479
31,917 31, 736
43,025 43, 438
19,044 19,365
23,981 24, 073
23, 438 23, 611
13, 897 14,004
9,541
9,607
93, 166
61, 441
31, 725
43, 874
19, 358
24, 516
23, 591
14, 089
9,502
93, 728
61, 724
32,004
44, 322
19, 756
24, 566
23, 609
14, 220
9,389
94, 211
62, 036
32, 175
44, 806
20, 079
24, 727
23, 716
14, 182
9,534
94, 916
62, 631
32, 285
45, 378
20, 564
24, 814
23, 956
14, 365
9,591
' 95,905
r 63,550
' 32,355
45, 838
20, 597
25, 241
' 24,363
' 14,579
' 9, 784
BUSINESS INVENTORY-SALES RATIOS
Manufacturing and trade, total. -.
ratio
1.53
1.54
1.54
1.53
1.54
1.54
1.54
1.53
1.54
1.54
1.54
1.54
1.56
1.59
1.58
do
do
do
do
do
1.70
2.01
.59
.92
.50
1.69
2.00
.56
.93
.51
1.68
1.97
.57
.91
.50
1.68
1.95
.56
.90
.49
1.70
2.00
.58
.92
.50
1.71
2.00
.57
.93
.51
1.71
2.04
.58
.94
.52
1.68
2.01
.57
.93
.51
1.68
2.01
.56
.94
.51
1.70
2.00
.55
.94
.51
1.67
1.95
.54
.92
.50
1.67
1.96
.54
.92
.50
1.70
2.04
.56
.96
.52
'1.73
••2.10
'.58
'.99
.54
1.74
2.13
.59
1.00
.54
Nondurable goods industries
Materials and supplies
Work in process
Finished goods
do
do
do
do
1.33
.50
.20
.62
1.31
.48
.21
.62
1.32
.49
.21
.62
1.34
.49
.21
.63
1.33
.49
.21
.63
1.34
.49
.21
.63
1.32
.49
.21
.63
1.29
.47
.20
.61
1.28
.47
.20
.61
1.31
.48
.20
.62
1.30
.48
.20
.62
1.29
.48
.20
.60
1.29
.48
.20
.61
'1.29
.47
'.20
'.62
1.29
.47
.20
.61
Retail trade total
Durable goods stores
Nondurable goods stores
do
do
do
1.44
2.00
1.18
1.50
2.10
1.21
1.48
2.08
1.18
1.47
2.03
1.20
1.49
2.08
1.20
1.47
2.04
1.19
1.46
2.01
1.20
1.48
2.03
1.21
1.51
2.12
1.23
1.51
2.16
1.22
1.53
2.14
1.24
1.53
2.20
1.22
1.55
2.23
1.23
1.56
2.22
1.25
1.54
2.27
1.23
1.20
1.54
.91
1.19
1.53
.89
1.22
1.56
.93
1.21
1.51
.94
1.18
1.51
.90
1.19
1.52
.90
1.17
1.49
.88
1.18
1.51
.90
1.20
1.55
.90
1.18
1.55
.86
1.17
1.52
.87
1.18
1.53
.88
1.19
1.54
.89
1.21
'1.60
.89
1.20
1.59
.88
14, 944
17, 189
1,134
1,204
1,256
1,299
1,452
1,353
1,449
1,430
1,446
1,396
1,435
1,392
1,378
1,530
1,295
1,424
1,465
1,486
1,653
1,637
1,485 ' 1, 741
1,470 ' 1, 574
1,433
1,525
54, 693
54,406
57,484
50, 501
53, 401
57,991
58, 473
55, 833 ' 53,914
51, 642
30, 891 ' 30,067 '27,900 2 30, 500
1,270
1,450 ' 1, 335
4,849 r 4, 651 ' 4, 900 25,000
2,198 ' 2, 121 2,354
Manufacturing, total
Durable goods industries
Materials and supplies
Work in process
Finished goods
.
-
.
Merchant wholesalers total
do
Durable goods establishments
do
Nondurable goods establishments
do
MANUFACTURERS' SALES, INVENTORIES,
AND ORDERS
Manufacturers' export sales:
Durable goods industries:
Unadjusted total
mil $
Seasonally adj total
do
603, 718
655, 335
49, 452
53,933 55, 254
do
do
do
do
330, 951
15, 754
50, 457
24, 901
363, 601
17, 219
57, 135
26, 493
27, 331
1,198
4,329
1,997
30,287 31, 054
1,387
1,295
4,884
4,741
2,305
2,153
30, 654
1,438
4,893
2,305
30,391
1,450
4,883
2,275
32,317
1,532
4,991
2,312
27, 225
1,407
4,360
2,101
28, 745
1,531
4,584
2,148
32, 188
1,592
4,946
2,262
32, 451
1,604
5,024
2,316
do
do
do
do
do
do
34, 180
58,047
42,353
84, 163
47, 638
11, 370
37, 024
64,551
45, 376
91, 450
50, 144
13,563
2,657
4,745
3,362
7,192
4,236
967
3,009
5, 513
3,728
7,741
4,393
1,056
2,994
5,720
3,867
7,814
4,446
1,101
3,109
5,559
3,686
7,654
4,281
1,068
3,031
5,420
3,674
7,652
4,223
1,085
3,318
5,918
4,076
7,954
4,615
1,217
2,876
4,856
3,536
6,224
3,093
1,023
3,135
5,095
3,739
6,302
2,955
1,166
3,249
5,700
4,098
8,101
4,625
1,287
3,371
5,469
4,064
8,530
4,973
1,176
do
do
do
do
272, 767
90, 157
4,922
21, 458
291, 734
96, 717
5,121
21, 262
22, 121
7,327
376
1,626
23, 646
7,644
399
1,752
24,200
7,825
404
1,830
24, 039
7,662
414
1,756
24,015
7,831
439
1,717
25, 167
8,278
462
1,854
23, 276
7,809
437
1,507
24, 656
8,159
453
1,852
25, 803
8,708
454
1,884
26, 022
8,677
414
1,990
Paper and allied products
Chemicals and allied products
Petroleum and coal products
Rubber and plastics products
do
do
do
do
24, 208
46, 465
22, 267
14,265
26, 951
48, 698
24, 555
16, 552
2,070
3,749
1,855
1,227
2,219
3, 995
1,949
1,344
2,259
4,106
1,930
1,387
2,256
4,254
1,971
1,413
2,230
4,251
2,054
1,380
2,343
4,274
2,155
1,485
2,157
3,825
2,046
1,266
2,264
4,040
2,088
1,311
2,338
4,268
2,155
1,423
2,350
4,230
2,082
1,594
Shipments (seas, adj.), total
...
By industry group:
Durable goods industries, total 9
Stone, clay, and glass products
Primary metals
Blast furnaces, steel mills
do
53,302 53, 078
53, 298
53,741
54,786
55, 392
55, 239
56, 434
56, 999
55,988 ' 55,277
31, 889
1,491
5,144
2,422
30, 944
1,459
5,013
2,338
Shipments (not seas adj ) total
Durable goods industries, total 9
Stone, clay, and glass products
Primary metals _ _
Blast furnaces, steel mills
Fabricated metal products
Machinery, except electrical
Electrical machinery
Transportation equipment
_ __
Motor vehicles and parts
Instruments and related products
Nondurable goods industries total 9
Food and kindred products
Tobacco products
Textile mill products.-
do
do
do
do
do.
52, 801
29, 325
1,414
4,508
2,089
29,914 29, 530
1,441
1,454
4,585
4,578
2,096
2,115
Fabricated metal products
do
2,961 3,031
2,940
Machinery, except electrical
do
5,222
5,352
5,319
Electrical machinery
do
3,620 3,685 3,725
Transportation equipmentdo
7,284
7,463 7,273
Motor vehicles and parts
do
4,117
4,212
4,042
Instruments and related products
do
1,089
1,083
1,078
' Revised.
« See corresponding note on p. S-ll; revisions for Jan.-Nfov. 1968 for mfg. and
trade sales, total (unadj . and seas, adj.) will be shown later.
* Based c>n data n ot season ally
adjusted.
2 Advance estimate; total mfrs. shipments for Jan. 1970 do not refl ect revisions
for selected components. § The term "business" here includes only manufe icturing and
29, 643
1,422
4,571
2,096
29,573
1,402
4,643
2,119
30,136
1,381
4,728
2,212
30, 605
1,388
4,777
2,238
30, 868
1,414
4,739
2,176
31, 742
1,478
5,016
2,329
3,133
5,237
3,847
8,236
4,439
1,204
' 3, 142
' 5, 319
' 3, 699
' 8, 050
' 3, 865
' 1, 213
24, 942 ' 23,847
8,383 ' 8, 414
438
431
1,847 '1,647
2,278
4,036
2,142
1,405
' 2, 187
' 3, 670
' 2, 128
'1,317
r 30,201
2,927
5,080
3,284
' 6, 700
3,701
1,035
2
7, 700
23, 781
8,099
415
1,633
2,202
3,880
2,190
1,287
55, 185
r 30, 000
1,500
' 1, 485
' 4, 945 '5,100
2,462
' 2, 354
2
30, 200
2
4,800
3,061
2,968 3,094
3,036 3,135 3,286 3,180 ' 3, 259 3,262
3,088
5,605
5,471 ' 5, 228
5,572
5,769
5, 504
5, 276
5,248 5,422 5,261
3,737
3,764
3,943 3,930
3,863 3,873 3,900 3,739 '3,609 3,536 2
7, 400
8,248 8,280 7,920 ' 7, 593 ' 6, 800
7,916
7, 34ti
7,275 7,244
8,120
4,044 ' 3, 735 3,641
3,910
4,073 4,484
4,665 4,781 4,559
3,997
1,170
1,186 ' 1, 142
1,133
1,212
1,182
1,084
1,103
1,158
1,101
trade; business inventories as sh own on p. S-l cc>ver data for all 1types of produce rs, both
farm and non 'arm. Urladjusted data for manuf acturing are shovm below and on p. S-6;
those for whol esale and retail tr ade on p p. S-ll '<ind S-12
9 Includes clata for i terns not shown s jparately
SURVEY OF CURRENT BUSINESS
S-6
1969
1968
Unless otherwise stated in footnotes below, data
through 1968 and descriptive notes are as shown
in the 1969 edition of BUSINESS STATISTICS
Annual
March 1970
1969
Jan.
Feb.
Mar.
Apr.
May
June
1970
July
Aug.
Sept.
Oct.
Nov.
Dec
Jan.
Feb,
GENERAL BUSINESS INDICATORS—Continued
MANUFACTURERS' SALES, INVENTORIES,
AND ORDERS— Continued
Shipments (seas, adj.)— Continued
By industry group:
Nondurable Roods industries, total 9
mil.$
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 market category:
Home goods and apparel
do
Consumer staples
do
Equipment and defense prod., excl. auto. do
Automotive equipment
do
Construction materials and supplies
do
Other materials and supplies
do
Supplementary series:
Household durables
do
Defense products (old series) do
Defense products (new series)
do
Machinery and equipment
do
Inventories, end of year or month:
Book value (unadjusted), total
Durable goods industries total
Nondurable goods industries, total
23, 476
7,669
414
1,790
2,172
3,935
1,894
1,301
23,388
7,624
415
1,740
2,201
3,980
1,949
1,328
23, 548
7,778
411
1,784
2,186
3,892
1,971
1,327
23, 655
7,755
421
1,758
2,226
3,913
1,988
1,333
24,168
7,869
439
1,751
2,241
4,063
2,067
1,335
24,650
8,085
422
1,771
2,259
4,095
2,103
1,403
24, 787
8,114
425
1,789
2,333
4,118
2,030
1,395
24, 371
8,156
432
1,785
2,234
4,100
2,071
1,352
24, 692
8,259
442
1,761
2,263
4,120
2,138
1,424
25, 110
8,416
423
1,841
2,285
4,178
2,065
1,542
25, 044 " 25,076 25, 173
8,390 '8, 6%1
8,463
436
438
458
1,774 r 1, 745
1,785
2,292 ' 2, 283 2,311
r
4,255
4, 110
4,073
2,155 ' 2, 140
2,233
1,449 ' 1, 365 1,365
4,849
9,945
8,764
4,642
4,444
20, 157
4,715
9,841
8,828
4,764
4,637
20, 517
4,703
9,927
8,738
4,572
4,517
20, 621
4,738
9,981
8,886
4,531
4,531
20, 631
4,820
10,116
8,889
4,476
4,494
20,946
5,066
10, 322
8,864
4,650
4,452
21, 432
5,017
10,508
8,960
5,102
4,404
21,401
4,646
10, 477
9,177
5,298
4,399
21, 242
4,646
10, 562
9,303
5,422
4,520
21, 981
4,667
10, 876
9,447
5,243
4,614
22, 152
4,354 ' 4, 505 4,489
10,827 ' 11,035 10, 875
9,459 ' 9, 146
9,130
4,647 r 4, 332
4,212
4,595 ' 4, 537 4,554
22, 106 ' 21,722 21, 925
25, 601
50, 114
24, 511
75, 694
2,153
3,971
1,875
6,102
2,165
4,009
1,851
6,263
2,126
4,001
1,875
6,212
2,159
4,128
2,035
6,160
2,128
4,117
1,971
6,219
2,250
4,029
1,989
6,316
2,280
4,182
2,077
6,198
2,141
4,143
2,141
6,457
2,145
4,068
2,062
6,806
2,150
4,409
2,110
6,432
93, 415
61,643
31, 772
94, 118
62, 173
31, 945
94, 755 r 95,475
62, 570 r 63,106
32, 185 r 32,369
96, 379
63, 852
32, 527
96, 165
i 55, 126 i 56, 585
U15,551 1 124, 395
i 96, 115 1 108, 355
i 54, 048 i 57, 175
i 48, 587 i 54, 130
1234,291 i 254, 695
i
i
i
i
24, 031
46, 201
23, 917
68, 757
i
i
i
i
1,951
4,549
2,244
6,432
' 1, 984 ' 1, 900
' 4, 518 r 4, 000
r 2, 284 ' 1, 800
' 6, 179 '6,400
do
do
do
88, 239
57, 034
31, 205
95, 475
63, 106
32, 369
89, 179
57, 789
31, 390
90, 158
58, 568
31, 590
90,885
59, 293
31, 592
91, 779
59, 973
31, 806
92,808
60,805
32,003
92, 509
60, 863
31, 646
92,682
61,113
31,569
93, 262
61, 541
31, 721
do
88, 579
95, 905
88, 905
89, 556
90, 317
91, 018
,92,139
92, 215
93,166
93, 728
94, 211
94, 916
95, 416 r 95,905
do
do
do
do
57, 422
2,219
7,552
4,039
63, 550
2,483
8,052
4,312
57, 879
2,289
7,528
4,019
58, 282
2,372
7,554
4,042
58, 978
2,361
7,627
4,074
59, 426
2,391
7,682
4,121
60,222
2,390
7,764
4,200
60, 479
2,431
7,798
4,194
61,441
2,463
7,800
4,185
61, 724
2,453
7,907
4,234
62, 036
2,458
7,937
4,255
62,631
2,449
7,925
4,234
63,076 r 63,550 63, 984
2,471 r 2, 483
2,488
8,009 ' 8, 052 8,170
4,272 r 4, 312
4,330
6,287
11,310
8,560
13, 939
4,257
2,183
6,613
13, 180
9,346
15, 561
4,156
2,476
6,289
11, 528
8,551
14, 076
4,308
2,240
6,129
11, 738
8,592
14, 186
4,226
2,275
6,220
11, 837
8,735
14, 350
4,289
2,319
6,267
11, 946
8,762
14, 482
4,263
2,345
6,305
12,149
8,957
14,689
4,216
2,339
6,358
12, 294
8,913
14, 714
4,175
2.387
6,407
12,542
9,044
15,154
4,306
2,407
6,371
12, 606
9,086
15, 177
4,237
2,412
6,434
12, 697
9,203
15, 129
3,944
2,416
6,478
12, 909
9,307
15, 358
4,024
2,427
6,550 r 6, 613
13, 080 r 13,180
9,327 r 9, 346
15, 388 ' 15,561
4,063 r 4, 156
2,434 r 2, 476
6,765
13,210
9, 460
15,613
4,186
2,449
16,637
2,787
4,821
3,402
17, 572
2,824
5,556
3,293
16, 706
2,800
4,862
3,348
16, 613
2,765
4,935
3,301
16,980
2,824
5,003
3,388
16, 935
2,814
5,024
3,348
17,055
2,843
5,117
3,332
17, 045
2,806
5,143
3,291
17,159
2,760
5,140
3,444
17, Oil
2,800
5,169
3,206
17, 023
2,831
5,237
3,090
17, 104
2,802
5,389
3,038
17, 194 r 17,572
2,771 r 2, 824
5,456 r 5, 556
3,078 ' 3, 293
17, 663
2,927
5,563
3,210
Work in process 9 ._._do_.
Primary metals
do
Machinery (elec and nonelec ) do
Transportation equipment
do
26, 357
2,547
9,472
9,162
29, 796
2,780
10, 702
10, 683
26, 631
2,506
9,611
9,289
26, 961
2,535
9,769
9,436
27, 264
2,573
9,879
9,561
27, 463
2,609
9,948
9,657
27,872
2,612
10,102
9,854
28, 072
2,674
10, 134
9,927
28,714
2,687
10,355
10,232
28, 977
2,720
10, 405
10, 441
29, 224
2,722
10, 495
10, 543
29, 494
2,712
10, 542
10, 749
29, 660 r 29,796
2,779 ' 2, 780
10, 650 ' 10,702
10, 742 r 10,683
30, 038
2,853
10, 742
10, 787
Finished goods 9
do
Primary metals _ _ _ _ _ _
do
Machinery (elec. and nonelec. ).__do
Transportation equipment
do
14, 428
2,218
5,577
1,375
16, 182
2,448
6,268
1,585
14, 542
2,222
5,606
1,439
14, 708
2,254
5,626
1,449
14, 734
2,230
5,690
1,401
15, 028
2,259
5,736
1,477
15,295
2,309
5,887
1,503
15, 362
2,318
5,930
1,496
15,568
2,353
6,091
1,478
15, 736
2,387
6,118
1,530
15, 789
2,384
6,168
1,496
16, 033
2,411
6,285
1,571
16, 222 r 16,182 16, 283
2,459 ' 2, 448
2,390
6,301 ' 6, 268
6,365
1,568 ' 1, 585 1,616
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
31, 157
7,370
2,261
3,539
2,384
5,937
2,118
1,801
32, 355
7,230
2,200
3,501
2,632
6,634
2,274
1,888
31, 026
7,264
2,219
3,507
2,403
5,977
2,068
1,811
31, 274
7,248
2,203
3,534
2,419
6,088
2,076
1,831
31, 339
7,215
2,226
3,548
2,420
6,177
2,069
1,799
31, 592
7,293
2,203
3,581
2,439
6,255
2,061
1,811
31,917
7,416
2,209
3,565
2,458
6,336
2,077
1,837
31, 736
7,418
2,211
3,539
2,448
6,332
2,079
1,808
31,725
7,296
2,230
3,509
2,486
6,395
2,078
1,851
32,004
7,367
2,251
3,586
2,469
6,418
2,075
1,885
32, 175
7,399
2,225
3,564
2, 513
6,467
2,108
1,890
32, 285
7,292
2,240
3,524
2,581
6,526
2,156
1,879
32, 340 ' 32,355 32, 181
7,302 r 7, 230
7,231
2,233
2,165
2,200
3,447 ' 3, 501 3,448
2,614 r 2, 632
2,655
6,566 ' 6, 634
6,591
2,197 ' 2, 274
2,283
1,871 r 1, 888
1,927
11, 598
4,855
14, 704
11,792
5,100
15, 463
11,497
4,991
14, 538
11, 554
5,014
14,706
11, 519
4,943
14,877
11, 672
4,970
14, 950
11,783
5,016
15,118
11,704
4,946
15, 086
11,684
4,945
15,096
11, 790
4,988
15, 226
11, 837
5,028
15, 310
12, 048
5,062
15, 175
11, 963 ' 11,792
« 5, 058 ' 5, 100
15, 319 ' 15,463
11,762
5,039
15, 380
9,469
11, 786
22, 191
5,199
7, 410
32, 524
9,922
12, 084
25, 865
5,277
8,001
34, 756
9,360
11, 696
22, 475
5,281
7,538
32, 555
0,490
11, 807
22, 753
5,235
7,540
32, 731
9,667
11, 830
22, 970
5,332
7,640
32, 878
9,738
11, 903
23, 066
5,330
7,723
33, 258
9,850
12,039
23,582
5,323
7,714
33,631
9,696
12, 077
23, 792
5,287
7,761
33, 602
9,732
12,001
24, 349
5,449
7,832
33,803
9,832
12, 145
24, 600
5,368
7,783
34,000
9,924
12, 206
24, 979
5,086
7,831
34, 185
9,980
12, 108
25, 387
5,128
7,864
34,449
9,988 ' 9, 922
12, 152 r 12,084
25, 587 ' 25,865
5,157 ' 5, 277
7,939 ' 8, 001
34, 593 ' 34,756
9,826
12, 113
25, 879
5,305
8,018
35, 024
4,645
11, 513
7,126
14, 038
5,092
13, 204
7,472
16, 305
4,579
11,571
7,227
14, 308
4,717
11, 675
7,324
14, 494
4,821
11,741
7,327
14, 702
4,867
11, 824
7,374
14, 852
4,925
12,194
7,508
15,070
4,872
12, 164
7,485
15,300
4,961
12,454
7,713
15,621
5,055
12, 621
7,690
15, 662
5,121
12, 880
7,793
15, 799
5,137
13, 020
7,759
16, 109
5,167
5,166 »• 5, 092
13, 056 r 13,204 13, 146
7,615 ' 7, 472 7,512
16, 240 r 16,305 16, 422
607, 161
334, 422
272, 739
657, 780
366, 054
291, 726
50, 638
28, 531
22, 107
54,850
31, 125
23, 725
55, 696
31, 449
24, 247
56, 010
31, 896
24, 114
54,204
30,175
24,029
56, 743
31,544
25, 199
51,551
28,355
23,196
53, 001 58,450
28, 420 32, 671
24,581- 25, 779
57, 939 r 55,274 r 53,424
31, 942 r 30,334 r 29,612
25, 997 24, 940 r 23,812
1607,161 1 657, 780
53, 119
53, 901
53, 283
54, 635
54,133
53, 861
55, 793
54, 799
56, 917 ' 56,242 r 55,362
Book value (seasonally adjusted), total
By industry group:
Durable goods industries, total 9--Stone clay, and glass products
Primary metals
Blast furnaces steel mills
Fabricated metal products
do
Machinery except electrical
do
Electrical machinery.
do_
Transportation equipment
do
IVlotor vehicles and parts
do
Instruments and related products- . do
By stage of fabrication:
Materials and supplies 9
Primary metals
^Machinery (elec and nonelec )
Transportation equipment
do
do
do
do
By market category:
Home goods and apparel
do
Consumer staples
_
_
._ do
Equip, and defense prod., excl. auto
do
Automotive equipment
do
Construction materials and supplies
do
Other materials and supplies
do
Supplementary series:
Household durables
..do
Defense products (old series)
do
Defense products (new series)
do
Machinery and equipment
do
New orders net (not seas adj ) total
Durable goods industries, total
Nondurable goods industries total
do
__ do
do
New orders net (seas adj ) total
By industry group:
Durable goods industries, total 9
Primary metals
Blast furnaces steel mills
do
do
do
do
334, 422
49, 790
24, 380
366, 054
58, 491
27,280
29, 684
4,675
2,124
30, 482
4,666
2,071
29, 697
4,614
2,110
30, 944
4,806
2,307
29,998
4,772
2,246
29, 171
4,825
2,308
31,069
5,161
2,510
30,482
5,001
2,370
Fabricated metal products
Machinery, except electrical
Electrical machinery.
Transportation equipment
Aircraft, missiles, and parts
do
do
do
...do
do
35, 276
58, 286
42, 330
86, 790
31, 514
37, 692
66, 963
45, 682
89, 391
30, 923
2,755
5,350
3,581
7,487
2,690
2,841
5,626
3,767
7,842
3,031
2,980
5,538
3,746
7,107
2,492
3,158
5,650
3,928
7,695
2,562
3,119
5,579
3,710
7,228
2,564
3,157
5,627
3,664
6,341
1,796
3,197
5,433
4,079
7,554
2,502
3,091
5,513
3,707
7,657
2,468
do
do
do
272, 739
74, 348
198, 391
291, 726
80, 293
211, 433
23, 436
6,494
16, 941
23, 419
6.504
16, 915
23, 586
6,568
17, 018
23, 691
6,637
17, 054
24,135
6,634
17,501
24, 690
6,748
17, 942
24,724
6,856
17,868
24, 317
6,616
17, 701
Nondurable goods industries total
Industries with unfilled orders©
Industries without unfilled ordersif
T
1
Revised.
1 Based on data not seasonally adjiisted.
Advance estimate?; total rrifrs.
new orders for Jan. 1970 do not reflect revisions for selected c omponent s.
91ncludes ( lata
for items not shown separately.
©Includes text ile mill p roducts, 1 eather aiid produ cts,
paper and allied products, and printing and publis hing indiistries; unfilled ordlers for o ther
56, 829
32, 135
5,313
2,592
31, 795
5,300
2,571
r
51, 235
27, 700
23, 721
2 30, 000
53, 826
31,188 r 30,295 r 28, 900
4, 751 r 4, 760 r 4, 800
2,086
2,190 r 2, 007
3,276
3,340
3,437
5,453
6,152
5,635
3.610
3,688
4,097
7,885 . 7,673 --8,429
3,279
2,216
2,586
24, 694
6,709
17, 985
r
21,800
24,500
21,900
2 6, 500
3,038
5,458
3,622
r
6, 995 r 6, 400
' 2, 728 2,060
2 29, 300
2 4, 500
' 3, 384
r 5, 548
r 4, 110
25, 122 25, 054 r 25,067
6, 853 r 6, 804
6,912
18, 210 1 18,201 r 18,263
~2~7,~266
25, 099
6,926
18, 173
nondiirable go ods indu stries are zero.
HF<>r these i ndustrie s (food a nd kindr ed prodLLCtS, tOb£icco proc nets, ap parel anc1 related
prodticts, petr oleum an d coal pr 3ducts, c lemicals and allie I produc ts, and ru bber and plastics
< C orrected
prodilets) sale s are con sidered e }Ual to n ew order s.
March 1970
SURVEY OF CURRENT BUSINESS
Unless otherwise stated in footnotes below, data
through 1968 and descriptive notes are as shown
in the 1969 edition of BUSINESS STATISTICS
1969
1969
1968
S-7
Jan.
Annual
Feb.
Mar.
Apr.
May
1970
July
June
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
GENERAL BUSINESS INDICATORS—Continued
MANUFACTURERS' SALES, INVENTORIES,
AND ORDERS— Continued
Vew orders, net (seas, adj.)— Continued
By market category:
2
Home goods and apparel
_ _ _ _ _ _ _ mil. $_ 2 55, 173
115,594
Consumer staples
do
2
98, 601
Equip and defense prod., excl. auto
_ do
2
Automotive equipment _
do_ _ _ 54, 554
2 49, 522
Construction materials and supplies
do
Other materials and supplies
_ do __ 2233, 717
Supplementary series:
2
24, 120
Household durables
do
2
47, 409
Defense products (old series)
do
Defense products (new series)
do
2
Machinery and equipment
do. _ _ 69, 650
Unfilled orders, end of year or month (unadjusted),
total
-mil. $_
Durable goods industries, total
do
Nondur goods ind. with unfilled orders0 _do
Unfilled orders, end of year or month (seasonally
adjusted) total
mil. $
By industry group:
Durable goods industries, total 9
do
Primary metals
do
Blast furnaces, steel mills__
do_ _
Fabricated metal products _
Machinery except electrical
Electrical machinery
Transportation equipment _
Aircraft, missiles, and parts,.
56, 432
4,816
124, 361
9,945
109, 397
9,043
2
4,710
57,315
2
54, 663
4,333
2
255, 612 20, 272
2
4,764
9 845
9 520
4,743
4,507
20 522
4,801
9,920
8,719
4,581
4,493
20, 769
4,750
9,969
9,305
4,665
4,642
21, 304
4,709
10,110
8,761
4,655
4,561
21,337
5,030
10, 327
8,063
4,547
4,499
21, 395
5,072
10,499
9,195
5,039
4,479
21,509
4,547
10, 470
8,720
5,310
4,459
21, 293
4,635
10, 563
9,614
5,412
4,784
21, 821
4,625
10, 884
9,021
5,086
4,751
22, 550
2,115
4,153
1,889
6,450
4,283 ' 4, 528
4,442
10, 826 ' 11,028 10, 867
10,021 ' 9, 570 8,855
4,773 ' 4, 297 4, 095
4,708 ' 4, 490 4, 154
21, 631 ' 21,449 21,413
2,128
4,025
1,844
6,204
2,235
4 392
2 313
6,511
2,204
3,806
2,152
6,414
2,156
4,015
2,076
7,099
2,026
3,811
1,787
6,428
2,226
2,869
1,268
6,528
2,346
4,047
2,380
6,346
2,036
3,773
1,464
6,245
2,123
3,368
1,415
7,352
85, 938
82, 946
2,992
88, 412
85, 445
2,967
87,126
84,150
2,976
88, 041
84, 988
3,053
88, 480
85, 380
3,100
89, 796
86, 621
3,175
89, 595
86, 407
3,188
88,847
85,631
3,216
89,892
86,759
3,133
89,493
86,435
3,058
89, 952
86, 918
3,034
89, 415 '88,859 '88,412 88, 008
86, 410 '85,854 '85,445 ' 85, 300 i 84, 80(
2,910
3,005 ' 2, 967
3,005
87, 152
89, 714
87,469
88, 064
88, 267
89,603
89, 986
89,058
89,456
89,014
89, 411
89, 333 '89,583 '89,714
86, 461
6,848
3,316
86, 878
6,975
3,442
85,910
7,073
3,538
86,369
7,456
3,810
85,984
7,718
4,004
86, 377
8,015
4,267
86, 288 ' 86, 530 ' 86, 668 ' 85, 500 1 84, 70C
8,172
7,909 ' 7, 726 ' 7, 400 i 7, 10(
3,544
4,415
4,267 ' 3, 921
10, 002
16, 113
13, 408
34, 388
26, 828
10,066
16,314
13,127
33,484
26,035
10,175
16,487
13,276
33,121
25,771
10,231
16,494
13,120
32,658
25,475
10, 436
16 875
12, 935
32, 297
24, 957
10, 588 10, 684
16, 938 16 926
13, 133 13, 013
31, 689 ' 32, 200
24, 535 24, 615
86, 668
7,726
3,921
84,431
6,494
3,134
84 994
6,575
3,109
85, 159
6,611
3,104
10, 114
14, 790
13,210
33, 670
26, 858
10, 854
17, 243
13, 512
31, 605
24, 212
9,908
14,919
13,170
33,873
26,953
9,716
15 193
13 251
34 251
27, 345
9,756
9,854
15, 410 15, 783
13, 272 13, 461
34,086 1 34, 436
27, 173 26, 987
3,081
3,046
3,038
3,070
3,108
3,142
3,108
3,148
3,087
3,030
3,034
3,045
do
do
do
do
2,220
47,300
10, 279
27, 353
2 017
48, 515
10, 886
28, 296
2 186
47,649
10,169
27,465
2 238
48 317
10 038
27, 471
2,328
48, 310
10,013
27, 616
2,328
48, 863
10, 124
28, 288
2 208
48 913
10, 190
28, 675
2,176
48,006
10,237
28, 639
2 223
48,173
10,312
28,748
2,117
47,727
10,373
28,797
2,110
48, 027
10, 636
28, 638
do
do
do
do.__
1,790
33, 108
21,818
22, 141
1,642
30, 273
20, 419
25, 126
1,765
33,163
21,786
22,242
1 834
33, 546
22 249
22, 489
1,911
33, 350
22, 526
22, 691
1,909
33, 237
22, 567
23, 627
1,805
32, 931
22, 383
23, 836
1,781
31,771
21,662
24,044
1,846
31,634
21,964
24,193
1,742
31,264
21,288
23,982
1,722
30, 565
20, 641
24, 527
233, 635
274, 267
24, 327
20 578
20 811
22 199
23,089 24, 698 23, 694 24,128
21, 353 '23 220 '23 185 '23 528
9,636
1,106
1,670
1,513
4,366
981
9 154
1,159
1,590
1,493
4 070
842
689
65
101
121
325
77
731
79
127
112
353
60
940, 996 1,142 113
87, 289 126, 537
212, 459 171 717
291, 700 406 450
220, 223 265 122
129, 325 172 287
75, 027
5,674
10, 068
27, 256
23, 406
8,623
89, 993
12, 323
15, 411
30, 951
20, 494
10, 814
32.0
35.6
Nondur. goods ind. with unfilled orders©, do
r
25, 461
2 47, 291
2 23, 114
2 78, 641
84, 071
6,327
3,100
do
do
do
do
do _
By market category:
Home goods apparel consumer staples
Equip and defense prod., incl. auto
Construction materials and supplies
Other materials and supplies..
Supplementary series :
Household durables
Defense products (old series)
Defense products (new series)
Machinery and equipment
2
2
2
1,890 ' 2, 001
4,630 ' 4, 400
'r 2,419 ' 2, 108
6, 696 ' 6, 490
'
'
'
'
1, 900
3, 500
1, 800
6, 400
88, 349
' 10, 854 10, 631
' 17, 243 17, 096
' 13, 512 13, 597
'31,605 ' 31,200
'24,212 23, 706
' 3, 046
2,972
2,075
47, 446
10, 774
29, 038
2,000 ' 2, 017
'48,128 '48,515
10,888 ' 10, 886
28,567 -28,296
1,963
48, 121
10, 485
27, 780
1,686
30, 308
20, 420
24, 549
1,625 ' 1, 642 ' 1,600
30,390 '30,273 ' 29,900
'20,595 ' 20, 419 ' 20,400
'24,818 '25,126 r 25,200
3,053
i 1, 80(
14 44C
i 1, 80C
i 6, 500
i 30, 90
i 1,60
i 29,80
i 20,30
i 25,20(
BUSINESS INCORPORATIONS d*
New incorporations (50 States and Dist. Col.):
Unadjusted
number
Seasonally adjusted
do
INDUSTRIAL AND COMMERCIAL
FAILURESd*
Failures total
number
Commercial service
do
Construction
do
Manufacturing and mining
do
Retail trade
do
Wholesale trade
do
Liabilities (current), total
Commercial service
Construction
Manufacturing and mining
Retail trade
Wholesale trade
thous $
do
do
do
do
do
Failure annual rate (seasonally adjusted)
No. per 10,000 concerns
2
38. 6
237.3
868
111
144
126
407
80
r
24, 015 20, 990 21, 498 ' 25, 059 19, 109
23 554 ' 22, 967 23 138 r 24 046 '23 308
22, 849
22, 137
734
84
114
140
342
54
823
109
148
142
363
61
812
105
157
122
360
68
792
109
148
126
324
85
689
113
131
113
283
49
702
86
126
108
303
79
84, 121 118, 761
9,176
9,068
15, 206 18, 679
21,698 57, 845
23, 827 17,471
14, 214 15, 698
92, 605
7,917
20, 543
33, 043
20 455
10, 647
91, 921
20, 430
10, 735
24, 026
22 774
13,956
112,727
8,047
19 457
63, 474
17 189
4 560
62, 830
4,347
10, 293
19, 252
17, 851
11, 087
36.4
36.9
39.8
34.9
36.0
39.9
39.5
40.9
38.2
33.7
38.0
726
90
124
110
338
64
815
90
145
136
350
94
759
115
134
131
313
66
73, 698 116, 443 127, 138
7,938
9,416 13, 696
10 173 21, 151 13, 033
18,412 28, 532 42, 799
24 016 34, 647 21, 192
11,681 18, 417 42, 176
748
87
105
146
351
59
96, 849 137, 282
18, 505 37, 608
6,968 20, 835
39, 162 42, 260
21, 800 24, 979
10, 414 11, 600
COMMODITY PRICES
PRICES RECEIVED AND PAID BY
FARMERS
1910-14 =100__
do
do.
do
do.
do
do
do
do
do
do
do
261
229
313
192
159
160
303
567
288
318
346
142
277
224
337
173
166
154
256
594
322
330
399
160
263
220
323
163
162
155
259
579
299
333
349
166
267
226
336
166
165
156
272
583
302
329
362
156
271
228
324
173
164
156
285
583
308
323
375
160
271
227
326
174
167
156
259
585
309
318
385
150
282
237
406
170
173
157
269
585
321
314
419
134
284
231
310
180
173
151
298
585
329
310
437
139
282
224
308
184
170
142
259
592
332
317
426
160
279
220
297
173
167
145
257
607
330
325
422
153
275
214
285
164
166
152
245
615
328
337
407
164
277
217
313
183
165
157
228
611
327
349
401
161
285
228
436
180
162
158
222
605
333
355
398
184
286
221
377
169
164
159
216
602
342
352
410
199
287
218
342
161
168
158
210
598
346
351
420
197
290
221
339
171
169
159
214
602
349
346
436
181
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..
310
335
292
324
351
304
315
342
296
318
344
299
321
347
302
322
349
303
325
351
306
326
351
308
325
352
305
324
352
304
325
354
304
326
355
305
327
356
306
328
357
307
330
360
309
333
362
312
355
373
364
366
369
373
375
376
374
374
375
376
378
378
383
386
Parity ratio §
'73
74
72
73
73
73
75
76
75
75
73
74
75
76
75
75
Prices received, all farm products
Crops?
- Commercial vegetables
Cotton
Feed grains and hay
Food grains
Fruit
Tobacco
Livestock and products?
Dairy products
_
Meat animals
Poultry and eggs
.
do
' Revised.
1 Advance estimate; total mfrs. unfilled orders for Jan. 1970 do not reflect
revisions for selected components.
2 Based on unadjusted data.
0 See corresponding
note on p. S-6.
9 Includes data for items not shown separately.
d" Compiled by Dun & Bradstreet, Inc. (failures data are for 48 States and Dist. Col.).
§ Ratio of prices received to prices paid (parity index).
SURVEY OF CUKRENT BUSINESS
S-8
Unless otherwise stated in footnotes below, data
through 1968 and descriptive notes are as shown in
the 1969 edition of BUSINESS STATISTICS
1968
1969 P
Annual
March 1970
1969
Jan.
Feb.
Mar.
Apr.
May
June
1970
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
COMMODITY PRICES— Continued
CONSUMER PRICES
(17. S. Department of Labor Indexes)
Unadjusted indexes:
All items
1957-59=100__
Special group indexes:
All items less shelter
_
do
All items less food
do
All items less medical care _
do
Commodities
Nondurables
Nondurables less food
Durables 9
Commodities less food
Services
Services less rent
121.2
127.7
124.1
124.6
125.6
126.4
126.8
127.6
128.2
128.7
129.3
129.8
130.5
131.3
131.8
132.5
120.6
121.9
119.7
126.3
128.6
126.1
123.1
124.9
122.5
123.5
125.6
123.0
124.4
126.8
124.0
125.0
127.5
124.7
125.4
127.9
125.2
126.3
128.4
126.0
126.7
128.8
126.5
127.1
129.3
127.0
127.6
130.0
127.6
128.1
130.8
128.2
128.6
131.4
128.9
129.5
131.9
129.7
129.8
132.3
130.1
130.3
133.0
130.8
115.3
118.4
117.7
107.5
113.2
134.3
138.6
120.5
124.1
123.0
111.6
118.0
143.7
149.2
117.4
121.0
120.1
108.6
115.0
139.0
143.9
117.8
121.1
120.5
109.7
115.7
139.7
144. 6
118.7
121.8
121.4
111.1
116.8
140.9
146.1
119.3
122.5
121.9
111.4
117.2
142.0
147.4
119.6
123.0
122.4
111.3
117.5
142.7
148.1
120.5
124.1
123.0
111.7
118.0
143.3
148.8
121.0
124.7
123.1
111.9
118.1
144.0
149.6
121.4
125.2
123.3
111.9
118.2
145.0
150.7
121.7
125.8
124.4
111.6
118.7
146.0
151.7
122.4
126.1
125.1
113.2
119.8
146.5
152.3
122.9
126.7
125.5
113.5
120.2
147.2
153.1
123.6
127.7
125.7
113.6
120.3
148.3
154.3
123.7
127.8
125.2
113.7
120.1
149.6
155.8
124.2
128.4
125.8
113.7
120.4
150.7
157.1
119.3
113.7
120.6
126.8
119.1
123.6
115.1
127.0
110.4
115.1
109.5
113.0
120.1
119.6
117.3
100.8
138.2
130.0
145.0
120.3
125.7
125. 5
123.2
124.5
128.4
126.7
133.6
118.8
139.4
112.9
117.8
111.5
117.9
127.1
124.2
121.3
102.4
125.3
148.9
136.6
155.0
126.2
130.5
122.0
115.6
122.7
127.0
122.7
128.2
116.9
132.7
111.7
116.7
110.2
115.2
123.4
120.7
117.9
102.3
115.5
144.8
133.3
150.2
123.7
128.4
121.9
116.2
122.8
124.7
123.3
128.9
117.2
133.6
111.8
116.9
110.2
115.8
123.9
122.0
119.3
102.3
122.6
145.5
133.7
151.3
124.1
128.4
122.4
116.5
123.0
127.6
124.4
130.5
117.5
135.7
112.2
117.2
110.6
116.4
124.9
124.3
121.6
102.4
130.5
147.5
134.3
152.5
124.8
128.7
123.2
118.4
122.9
127.9
125.3
131.6
117.8
137.1
112.6
117.4
111.2
116.9
125.6
124.6
121.9
101.9
131.2
148.0
135.1
153.6
125.5
129.6
123.7
119.9
123.6
130.0
125.8
132.4
118.1
138.0
112.6
117.5
111.2
117.4
126.6
124.0
121.2
101.8
126.8
148.0
135.7
154.5
125.8
130.2
125.5
125.3
124.0
130.8
126.3
133.0
118.5
138.7
112.7
117.5
111.3
117.9
127.0
124.6
121.8
101.8
128.2
149.1
136.3
155.2
126.2
130.4
126.7
127.6
124.4
132.3
127.0
134.0
118.8
140.0
112.6
117.4
110.9
118.2
126.8
124.3
121.4
101.6
127.0
149.5
137.0
155.9
126.6
130.7
127.4
127.9
125.0
130.2
127.8
135.1
119.3
141.3
113.0
117.7
111.5
118.5
126.6
124.2
121.3
101.0
125.4
149.7
137.7
156.8
126.8
131.2
127.5
129.0
125.5
126.8
128.6
136.1
119.7
142.6
113.3
118.1
112.0
119.0
128.7
123.6
120.5
99.5
121.4
150.3
138.4
157. 6
127.3
131.6
127.2
127.6
125.8
124.0
129.2
137.0
120.1
143.6
113.5
118.4
112.2
119.3
129.8
125.7
122.8
104.2
125.8
150.3
138.6
156.9
127.3
132.0
128.1
127.2
126.3
127.0
129.8
137.7
120.5
144.5
114.2
118.9
113.2
119.6
130.7
125.6
122.7
105.1
124.9
151.1
139.1
157.4
127.8
132.3
129.9
127.2
127.6
132.1
130.5
138.5
121.0
145.4
114.6
119.2
113.7
120.0
130.8
126.4
123.4
104.9
123.9
153.0
139.6
158.1
128.1
132.7
130.7
128.8
128.4
130.9
131.1
139.6
121.3
146.8
114.6
119.7
114.1
120.1
129.3
127.3
123.3
104.7
120.7
165.1
140.1
159.0
128.5
133.1
131.5
129.7
128.8
132.4
132.2
140.9
121.8
148.5
114.9
120.6
114.6
120.8
130.0
127.3
123.3
104.6
117.8
165.4
140.7
160.1
129.0
133.2
195.7
192.8
197.8
i 108. 1
i 103. 1
i 111.8
100.8
97.1
103.4
103.0
98.5
106.3
104.1
100.2
106.9
105.6
100.5
109.3
107.6
103.7
110.4
109.1
105.6
111.6
109.1
104.5
112.4
110.9
105.2
115.0
111.6
103.6
117.4
111.3
105.4
115.6
111.9
106.8
115.6
112.3
105.6
117.2
113.8
106.2
119.4
114.3
106.6
120.0
do
108.7
113.0
110.7
111.1
111.7
111.9
112.8
113.2
113.3
113.4
113.6
114.0
114.7
115.1
do
do
do
do
do
101.1
108.0
111.3
109.9
115.3
107.9
111.8
115.3
113.9
119.3
102.8
110.1
113.2
111.8
117.6
103.8
110.7
113.3
111.7
117.8
105.2
111.4
113.7
112.2
118.0
105.7
111.4
113.8
112.3
118.1
109.7
111.4
114.7
113.5
118.5
111.2
111.4
115.4
114.2
118.7
110.2
111.4
115.9
114.8
119.3
109.5
111.9
115.7
114.4
119.3
108.7
112.4
116.0
114.7
119.9
108.7
112.8
116.5
115.1
120.8
109.0
113.1
117.6
116.2
121.5
do
do
_ _ do
do
do
111.8
106.5
109.4
112.0
106.9
116.6
110.3
113.3
116.6
110.1
114.6
107.8
111.3
114.8
107.7
115.4
108.0
111.7
115.6
108.0
116.1
108.6
112.2
116.3
108.3
116.0
108.8
112.4
116.2
108.9
116.1
110.3
112.8
116.2
109.6
115.9
111.2
113.2
116.0
110.6
116.1
111.3
113.5
116.1
111.0
116.5
111.1
113.6
116.4
111.0
117.1
111.1
113.9
117. 0
111.0
117.9
111.2
114.6
117.9
111.4
do
107.6
113.5
109.8
110.0
110.7
110.9
114.1
115.5
115.5
114.6
114.3
114.3
do
do__ _
do
do
do.- do
do
-
Food 9
. ._
. -do
Meats, poultry, and
fish
do__ _
Dairy products
do
Fruits and vegetables
__ __ _ _ _ do
Housing ..
_
do
Shelter 9
do
Rent
- _ _
- __do
Homeownership
. __
_ __do__ _
Fuel and utilities 9
do
Fuel oil and coal
do_
G a s a n d electricity
_ _ _ _ _ _ __do_
Household furnishings and operation do
Apparel and upkeep
do
Transportation
_
__ do__ _
Private
do
New cars
do
Used cars
do
Public
do
Health and recreation 9
do
Medical care
do
Personal care
do
Reading and recreation
do
WHOLESALE PRICEScf
(U.S. Department of Labor Indexes)
Spot market prices, basic commodities:
22 Commodities _
1957-59=100
9 Foodstuffs
- _
_ _
do
13 Raw industrials
do
All commodities
By stage of processing:
Crude materials for further processing
Intermediate materials, supplies, etc
Finished goodsO—.
__
Consumer finished goods
Producer finished goods -..
By durability of product:
Durable goods
Nondurable goods
_ __
Total manufactures
Durable manufactures
Nondurable manufactures
Farm prod., processed foods and feeds
0
116.4
109.9
113.5
118.0
116.5
122.3
110.7
114.4
118.8
117.3
122.9
113.0
114.7
118.8
117.3
123.1
118.4
111.9
114.9
118.3
111.6
119.0
112.4
115.3
118.8
111.9
119.6
113.4
116.1
119.4
113.0
120.0
113.9
116.4
119.7
113.2
115.7
116.4
' 118.2
118.7
107.9
101.3
84.8
85.3
118.7
111.1
125.3
81.7
86.3
116.6
111.7
112.4
82.9
86.9
120.2
r 112. 5
113.7
117.2
85.9
87.1
124.9
r 116.
Farm products 9
do
Fruits and vegetables, fresh and dried _do
Grains
do
Live poultry
_
do
Livestock _
do
102.2
108.2
81.9
84.9
104.8
108.5
111.0
83.3
89.8
118.3
104.9
112.0
82.5
90.5
106.1
105.0
108.7
82.0
94.3
109.2
106.5
112.1
81.6
95.5
112.5
105.6
106.8
83.1
87.0
113.8
110.5
126.7
86.7
90.7
123.0
111.2
112.9
85.6
89.8
130.4
110.5
103.1
83.7
90.2
126.8
108.9
106.7
81.9
92.3
123.6
108.4
103.4
83.4
89.0
119.2
Foods and feeds, processed 9
do
Beverages and beverage materials
do
Cereal and bakery products. _ _
_ do__
Dairy products
__
do
Fruits and vegetables, processed __ _do.
Meats, poultry, and fish _
__ do__
114.1
109.6
118.2
127.7
114.1
108.3
119.8
112.9
120.2
131.9
115.7
119.5
116.0
110.8
119.3
130.1
113.6
111.1
116.3
111.1
119.3
130.2
114.5
111.4
116.4
111.3
119.3
130.4
115.1
112.2
117.3
111.4
119.3
131.4
115.4
114.0
119.4
111.8
119.4
132.5
115.7
121.0
121.4
112.4
119.7
133.0
115.6
126.5
122.0
112.6
119.9
133.0
116.6
127.5
121.5
112.6
120.1
133.0
116.8
124.5
121.3
113.1
120.4
133.4
116.6
122.9
121.6
115.0
121.2
130.7
116.0
120.2
121.8
116.0
121.9
131.2
116.3
120.5
122.6
116.1
122.0
133.9
116.4
121.9
r 125. 1
117.4
122.3
133.9
116.9
125.8
125.2
118.3
123.3
134.1
117.3
124.9
116.6
85.9
94.8
117.3
109.0
112.7
110.9
111.4
112.0
112.1
112.2
112.2
112.4
112.8
113.2
113.8
114.2
114.6
•• 115. 1
115.5
do___
do___
do
do
do
do
98. 2
99!7
98.4
93.3
73.9
114.6
98.3
89.8
97.7
93.8
88.7
119.2
97.6
92.9
98.1
93.4
72.2
118.2
97.8
92.2
98.1
93.4
73.6
118.2
98.0
92.3
97.9
93.6
80.4
118.7
97.9
92.1
96.7
93.7
83.7
118.7
98.1
92.1
96.9
93.8
83.3
118.7
98.3
92.1
97.0
93.8
86.8
119.2
98.2
88.6
97.7
93.8
90.5
119.2
98.7
88.4
98.2
93.8
99.3
119.2
98.9
87.4
98.2
94.0
102.1
119.2
98.6
86.3
97.6
94.0
98.9
120.3
98.9
86.7
97.8
94.2
100.5
120.3
98.8
86.7
97.8
94.6
92.8
120.3
99.1
87.6
97.9
94.5
95.0
121.7
99.5
91.4
97.7
94.6
94.3
122.0
Fuels and related prod., and power 9
do__
Coal
do
Electric power
Jan 1958—100
Gas fuels... _
do
Petroleum products, refined
1957-59=100
102.4
106.7
101.5
123.8
100.3
104.6
116.2
102.7
124.5
101.8
102.4
112.7
102.0
124.4
98.9
102.7
112.7
102.2
124.0
99.5
104.2
112.7
102.3
124.6
101.7
104.5
112.8
102.3
121.8
102.5
104.5
113.5
102.5
121.6
102.4
105.0
114.2
102.6
121.8
103.3
105.0
115.4
102.5
121.6
103.2
104.7
115.5
102.4
121.8
102.5
104.7
115.9
103.5
123.0
101.8
105.4
120.6
103.7
128.7
101.6
105.5
123.5
103.4
128.8
101.6
106.1
124.6
103.4
131.8
102.2
105.6
125.4
103.4
132.4
101.0
106.4
131.7
103.6
135.2
101.2
106.9
106.5
106.4
105.9
106.2
106.1
93.6
93.1
93.0
92.9
93.0
93.0
123.6
123.3
123.0
122.3
123.0
122.8
77.7
77.9
77.9
78.1
77.9
77.9
OGoo ds to users, incl. r aw foods and fuel s.
107.2
93.6
123.6
77.8
107.5
94.4
124.3
77.2
107.9
94.4
125.1
77.2
Industrial commodities .
..
Chemicals and allied products 9
Agric chemicals and chem. prod
Chemicals, industrial
Drugs and Pharmaceuticals..
Fats and oils, inedible
Prepared paint
_ do
104.0
105.7
Furniture and household durables 9
do__
106.1
105.4
105.3
92.2
Appliances, household
do
93.0
92.8
92.6
92.5
117.2
Furniture, household
do
122.3
121.3
120.7
121.0
Home electronic equipment
do___
81.0
78.2
78.7
78.7
78.6
r
Revised.
v Preliminary.
1 Computed by QBE.
9 Include s data fc>r items not
Bhown separately.
cf For actual wholesale prices of individilal comm<)dities, s<36 respec tive
105.8
105.9
93.0
93.0
121.5
121.9
78.5
78.1
comm odities.
SURVEY OF CURRENT BUSINESS
March 1970
Unless otherwise stated in footnotes below, data
through 1968 and descriptive notes are as shown
in the 1969 edition of BUSINESS STATISTICS
1968
1969
1969 *
Annual
S-9
Jan.
Feb.
Mar.
Apr.
May
June
1970
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
COMMODITY PRICES—Continued
WHOLESALE PRICESc?—Continued
(17.S. Department of Labor Indexes— Continued)
All commodities—Continued
Industrial commodities—Continued
Hides, skins, and leather products 9
1957-59=100.
Footwear
dO-__
Hides and skins
do.__
Leather
do___
Lumber and wood products
do___
I/umber
do___
119.5
128.0
99.6
112.6
119.3
127.2
125.8
133.2
116.9
119.9
132.0
142.6
123.5
132.1
109.2
116.8
137.8
147.9
123.4
132.2
106.3
116.5
144.5
155.8
123.4
131.5
109.1
116.4
149.5
164.7
126.0
131.9
125.8
122.3
143.3
164.9
126.1
132.1
122.6
121.7
138.0
155.9
125.7
132.3
117.4
121.5
129.8
142.3
126.4
132.7
123.0
121.2
125.3
133.4
126.4
132.7
123.1
121.0
124.0
131.1
128.2
134.9
128.7
121.7
123.2
129.5
127.4
135.2
118.0
120.3
122.6
128.0
126.8
135.5
110.4
119.6
123.9
129.3
126.5
135.0
108.9
119.7
122.5
128.2
126.6
135.9
102.8
119.6
121.6
126.9
126.7
136.9
101.1
117.3
120.2
124.1
Machinery and equipment 9
Agricultural machinery and equip
Construction machinery and equip
Electrical machinery and equip
Metalworking machinery and equip
do_.
do_.
do.
do_
do.
115.2
127.1
129.6
103.0
128.6
119.0
132.8
135.5
104.8
133.4
117.0
131.2
133.5
103.5
131.0
117.3
131.6
133.6
103.5
131.1
117.8
131.7
134.0
104.2
131.4
118.0
131.8
134.1
104.3
131.8
118.3
131.9
134.3
104.5
132.1
118.6
132.0
134.5
104.7
132.3
119.0
132.3
134.8
104.8
133.3
119.1
132.3
134.9
104.7
133.5
119.9
133.0
136.1
105.4
134.4
120.5
133.2
137.7
105.6
135.4
121.0
135.8
138.6
106.0
136.5
121.9
136.4
139.8
106.2
138.0
122.5
136.7
140.2
106.8
138.6
122.8
137.2
140.3
106.9
139.3
Metals and metal products 9
Heating equipment
Iron and steel
Nonferrous metals
do_.
do_.
do_
do _
112.4
94.9
105.5
125.3
118.9
97.6
111.0
137.4
114.4
96.1
107.5
127.2
115.2
96.3
108.0
128.9
115.8
96.6
108.8
129.9
116.5
96.8
108.9
132.4
117.5
97.0
109.9
134.2
117.9
97.2
110.3
135.5
118.7
97.7
111.1
136.1
120.4
97.7
112.7
139.5
121.7
98.0
113.2
143.5
122.4
98.7
113.7
144.8
122.9
99.3
113.7
146.4
123.8
99.7
113.9
150.1
124.9
99.7
114.6
152.8
126.1
99.9
117.0
152.8
Nonmetallic mineral products 9
do...
Clay prod., structural, excl. refractories
do.._
Concrete products
do___
Gypsum products
do-_.
Pulp, paper, and allied products,
__do___
Paper
do-_.
Rubber and plastics products §
do...
Tires and tubes
dO-__
108.1
112.8
110.6
111.2
111.9
112.3
112.6
113.0
113.0
113.5
113.8
113.9
114.5
116.5
116.9
113.1
108.1
105.5
105.2
112.7
100.3
99.2
117.0
112.2
106.4
108.2
116.6
102.1
115.8
110.7
106.2
106.2
115.0
100.0
96.3
115.9
110.8
106.2
106.8
115.7
100.5
96.3
116.0
111.2
106.2
107.4
116.1
100.9
96.3
116.7
111.3
106.2
108.0
116.4
101.2
96.3
116.8
111.6
108.7
108.1
116.7
101. 1
96.3
116.9
111.6
108.7
108.3
117.0
101.2
96.3
116.9
112.3
104.9
108.4
117.1
102.5
98.4
117.0
112.4
103.2
108.7
117.2
103.0
99.2
117.5
113.2
106.1
108.8
116.5
102.7
99.2
117.8
113.5
105.9
109.0
116.5
103.5
100.6
118.5
113.6
109.8
109.3
117.0
104.4
101.7
118.5
114.2
104.3
109.5
117.4
104.5
101.7
119.4
115.9
107.3
111.1
120.3
104.7
101.7
119.4
116.4
108.3
111.8
121.5
104.6
101.7
Textile products and apparel 9
Apparel
Cotton products
Manmade fiber textile products
Silk yarns
Wool products
do
do___
do___
do.__
do_._
do-__
105.7
110.3
105.1
90.8
183 0
103.7
108.0
114.5
105.2
92.2
169.7
104.6
107.4
112.7
104.8
92.8
160.8
104.7
107.2
112.7
104.8
92.3
156.4
104.4
107.1
112.8
104.6
92.1
155.0
104.2
107.1
113.0
104.5
92.4
155.4
104.3
106.9
112.9
104.6
92.6
157.9
104.3
107.2
113.3
104.5
92.7
164.6
105.0
107.7
113.9
105.3
92.6
168.2
105.0
108.7
115.8
105.7
92.7
177.1
104.8
109.0
116.2
105.9
92.1
181.2
105.0
109.1
116.5
105.8
91.6
183.9
104.5
109.2
116.7
106.0
91.5
184.6
104.6
109.2
116.9
106.1
91.1
191.1
104.3
109.5
117.2
106.1
91.5
193.5
104.3
109.4
117.5
106.1
91.0
196.3
104.3
Transportation equipment 9.--Dec. 1968=100Motor vehicles and equip
.1957-59 = 100.
Miscellaneous products 9
do
Toys, sporting goods, etc
do
Tobacco products
do
104.9
111.8
108.3
115.2
100.7
107.0
114.7
111.3
120.8
100.1
106.5
112.5
110.2
116.6
100.1
106.4
112.5
110.1
116.7
100.0
106.3
112.5
110.5
116.7
100.1
106.4
112.7
110.8
116.9
100.2
106.5
112.8
110.7
117.0
100.3
106.6
115.1
110.9
123.2
100.4
106.6
115.5
111.2
123.4
99.9
106.0
115.9
111.8
123.5
100.0
106.1
116.4
112.1
123.8
102.3
108.7
116.7
112.3
123.8
102.7
109.0
117.0
112.8
124.0
102.7
109.0
117.0
112.7
124.0
102.9
109.1
117.4
114.1
124.0
102.9
109.1
117.5
114.2
124.0
$0.920
.825
$0. 885
.783
$0.903
$0.900
.803
$0.895
.796
$0.894
.791
SO. 887
.789
$0.883
.780
$0.882
.777
$0.880
.774
!0. 877
.770
$0.872
.767
a 869
.762
.759
$0. 859
.755
PURCHASING POWER OF THE DOLLAR
As measured byWholesale prices
Consumer prices...
1957-59=$!. 00
do__.
CONSTRUCTION AND REAL ESTATE
CONSTRUCTION PUT IN PLACE
New construction (unadjusted) total
Private, total 9 _..
Residential (nonfarm) .
New housing units
_
mil $
84 690
91 042
6 201
5 884
6 509
7 310
7 955
8 384
8 476
8 509
8 610
8 259 T 7 947
do
do
do
56 996
28 823
22 423
62 982
30 779
23 683
4 325
2 133
1 723
4 028
1 940
1 562
4 423
2 195
1 729
4 947
2 540
1 916
5 394
2 810
2 076
5 693
2 962
2*243
5 840
2 989
2 267
5 837
2 875
2 186
5 929
2 773
2 124
5 857
2 697
2 082
5 563 r 5 146
2 562 >• 2, 323
1 984 r 1 791
4,231
1,941
1,480
18 800
5 594
8 333
22 033
6 373
10 136
1 519
463
678
1 453
437
647
1 519
466
685
1 625
471
720
1 742
503
783
1 829
' 535
850
1 946
562
908
2 013
558
936
2 200
621
1 033
2 169
613
1 025
2 076
'569
982
r 1 942
1,563
447
692
Nonresidential buildings, except farm and public utilities, total 9
mil $
Industrial
do
Commercial.. _
do
Public utilities:
Telephone and telegraph
do
r 200
226
r 1 852
1 719
868
82
42
921
95
36
780
80
r
41
762
66
41
95
1 023
88
892
76
822
'73
600
61
477
91 2
91 3
89 8
r
89.3
88.5
r
62.3
61.5
r
29. 4
28.4
'22.6
6 4
22.5
6.6
10.2
2 172
128
132
162
166
173
183
186
190
204
222
27 694
28 060
1 876
1 856
2 086
2 363
2 561
2 691
2 636
2 672
2 681
2 402
Buildings (excluding military) 9
Housing and redevelopment
Industrial
do
do
do
10 445
746
517
11 226
1 047
512
799
81
44
861
98
37
954
118
40
1 008
111
46
1 062
85
54
1 067
60
61
996
75
30
940
73
44
970
89
37
Military facilities
Highways and streets.
do
do
824
9 295
945
9 276
68
510
62
442
72
539
89
696
84
821
88
917
67
950
83
1 064
92 0
92 1
91 7
92 8
92 4
91 5
90 8
89 8
_
New construction (seasonally adjusted at annual
rates), total
bil $
Private, total 9
do
Residential (nonfarm)
do
Nonresidential buildings, except farm and public utilities, total 9
bil $
Industrial
do
Commercial
__.
do
Public utilities:
Telephone and telegraph.
do
62 9
62 6
62 8
63 0
63 7
63 0
63 1
62 4
575
889
2 384
1 704
do
Public, total 9
' 6 998 5,950
r
63 8
64.3
29 8
22 8
6 6
10 2
31 1
31 4
32 4
33 0
33 0
31 6
30 3
29 2
29 3
30.0
21 9
6 8
10 0
21 5
6 3
9 9
20 6
6 0
9 8
20 2
59
91
20.6
59
9 3
21 2
6 0
10 0
22.4
6 4
10 4
22 7
6 4
10 3
23.8
6 7
11 1
23.7
6 9
10 9
62 8
T
10.3
2 0
18
19
2 o
2 1
2 0
2 2
2 2
2 4
2 5
2 2
2 5
Public, total 9 _ _ _ _
do
29 1
29 5
29 0
29 7
28 7
28 4
27 6
27 5
27 3
27 1
27 1
r 27 0
27.0
Buildings (excluding military) 9
Housing and redevelopment
Industrial..
Military facilities.. _
Highways and streets...
' Revised.
* Preliminary.
cTSee corresponding note on p. S-8.
do
do
do
do
do
11 2
12
5
10
9.7
11 4
15
5
10
10.1
12 2
14
5
10
12 7
14
5
12
9.1
12 2
12
6
10
8.9
11 4
g
6
10
8.9
10 9
7
4
8
8.8
11 0
8
6
9
8.9
10 6
9
4
9
9.3
10 5
1.0
.5
9
9.3
10 5
9
4
8
9.6
.5
9
.5
.9
377-332 O - 70 - 5
9 Includes data for items not shown separately.
8.9
§ Beginning Jan. 1970, retitled to read "rubber and plastics products" to cover the direct
pricing of plastic construction products; continuity of the group index is not affected.
SURVEY OF CURRENT BUSINESS
S-10
Unless otherwise stated in footnotes below, data
through 1968 and descriptive notes are as shown
in the 1969 edition of BUSINESS STATISTICS
1968
1969
1969
Jan.
Annual
March 1970
Feb.
Mar.
Apr.
May
June
1970
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
CONSTRUCTION AND REAL ESTATE— Continued
CONSTRUCTION CONTRACTS
Construction contracts in 48 States (F. W. Dodge
Division, McGraw-Hill):
Valuation total
mil $
Index (mo data seas adj )
i 61, 732
67, 827
4,766
4,802
5,003
5,895
7,081
6,443
6,298
6,523
5,140
6,240
4,406
5,228
1957-59 ~ 100
2173
193
191
205
177
183
210
186
180
216
173
195
178
218
205
mil. $
do
i 19, 597
i 42, 135
22, 858
44, 969
1,546
3,220
1,572
3,230
1,632
3,371
1,791
4,104
2,536
4,545
2,326
4,118
2, 352
3,947
2,605
3,918
1,719
3,420
1,626
4,615
1,427
2,980
1,727
3,501
1,433
3,495
do
do
do
i 22, 513
i 24, 838
i 14, 382
26, 085
25, 590
16, 152
2,145
1,746
875
1,885
1,820
1,097
1,772
1,957
1,274
2,136
2,546
1,213
2,680
2,620
1,780
2,357
2,548
1,538
2,402
2,296
1,600
2,460
2,394
1,669
2,013
1,952
1,175
2,502
2,290
1,449
1,566
1,675
1,165
2,168
1,744
1, 317
2, 252
1,475
1,201
do
52, 419
57, 164
4,405
3,617
4,690
3,738
4,572
4,267
4,368
4,167
3,858
7,124
6,878
5,486
5,655
4,092
1, 547. 7
1,118.4
1, 507. 7
899.5
1, 500. 1
1, 094. 3
1, 466. 7
810.5
105.8
80.9
101.5
51.3
94.8
73.3
90.1
47.9
135.6
102.0
131.9
71.9
159.9
117.8
159.0
85.0
157.7
114.5
155.5
91.3
150.8
109. 1
147.3
82.7
126.5
91.0
125.2
73.5
127. 6
91.4
124.9
69.5
132.9
93.9
129.3
71.5
125.8
91.2
123. 4
68.0
97.4
68.1
94.6
55.1
-85.3
61.0
-84.1
42.8
-69.0
51.3
- 66. 2
33.3
73.8
40.9
1,878
1,066
1,686
975
1,584
828
1,563
797
1,509
883
1,469
808
1,371
765
1,384
723
1,542
846
1,392
777
1,295
772
- 1, 299
729
- 1, 197
692
1,321
801
1,147
549
Public ownership
Private ownership
By type of building:
Nonresidential
Residential
Non-building construction
New construction planning
(Engineering News-Record) O
4,928
HOUSING STARTS AND PERMITS
New housing units started:
Unadjusted:
Total (private and public)
Inside SMSA's
Privately owned. .
One-family structures
-
thous
do
. . do
do
.
Seasonally adjusted at annual rates:
Total privatelv owned
One-family structures
do
do
New private housing units authorized by building
permits (13,000 permit-issuing places) :
Seasonally adjusted at annual rates:
Total
thous
One-family structures
-do ...
1,341
689
1,300
624
1,403
671
1,477
685
1,421
670
1,502
659
1,323
632
1,340
631
1,228
570
1,245
570
1,201
565
1,183
574
1,191
596
1,239
639
- 1,013
469
76.5
CONSTRUCTION COST INDEXES
Dept of Commerce composite
1957 59 — 100
131
142
137
137
138
139
139
142
143
143
143
143
144
145
145
American Appraisal Co., The:
Average, 30 cities
Atlanta
New York
S an Francisco
St Louis
1913=100
do
do
do
do
970
1,072
1,070
966
953
1,050
1, 158
1, 116
1,054
1,021
1,015
1,125
1,105
1,035
978
1,026
1,138
1,113
1,047
990
1,032
1, 151
1,117
1,057
996
1,034
1,154
1,116
1,047
1,001
1,040
1,148
1,109
1,048
997
1,046
1,137
1,104
1,032
1,019
,059
,161
,106
,062
,019
,061
,176
,105
,062
,035
1,065
1,179
1,106
1,063
1,054
1,069
1,177
1,133
1,063
1,053
1,073
1,178
1,136
1,066
1,054
1,076
1,178
1,136
1,061
1,054
1,082
1,210
1,169
1,061
1,060
139
150
145
146
146
147
148
151
153
153
153
153
153
154
155
155
147.5
149.2
146. 9
146.4
146.9
148.4
146.2
146.3
147.3
149.0
146.5
146.7
149.7
151.5
148.9
149.0
150.8
153.0
150.3
148.9
151.9
154.5
151.0
150.4
151.8
154.4
151.0
149.8
152.4
155.1
152.1
149.3
153.1
156.0
152.5
150.1
153.7
156.4
153.2
151.0
154.5
156.7
154.2
151.6
154.8
157.1
154.5
152.1
147 9
162.9
149.9
164.3
150.1
165.6
151.5
169.1
150.3
168.8
151.6
170.0
151.0
169.1
151.3
171.0
151.9
171.7
152.2
171.8
152.2
172.2
3 152. 0
3 172. 5
Associated General Contractors of America, Inc.,
The (building only)
1957-59=100..
E. H. Boeckh and Associates, Inc.: 1
Average, 20 cities:
All types combined
1957-59 = 100-.
Apartments, hotels, office buildings.
do
~~~139.~9~
Commercial and factory buildings
do
139.1
Residences
_
. . . do .
136.7
Engineering News-Record:
Building
__
Construction
...
_do _
do
Bu. of Public Roads— Highway construction:
Composite (avg. for year or q t r . ) _ . _ 1957-59=100.-
149.1
148.0
144.5
143.2
146.2
148.0
145.7
144.9
136.8
151.9
149.9
167.2
145.0
160.0
146.2
161.8
121.6
132.3
""Isi.'s" ~~146.y
130.3
123.5
138.7
136.3
CONSTRUCTION MATERIALS
Output index: J
Composite, unadjusted 9
Seasonally adjusted
1947-49 = 100. .
do
Iron and steel products unadjusted
do
Portland cement unadjusted
do
166.0
146.8
156.5
149.6
169.3
170.5
176.4
178.8
175.9
181.0
168.9
177.0
165.6
170.6
177.3
170.1
154.7
172.1
165.0
- 178. 0
- 157. 4
148.8
160.3
120.2
178.5
178. 3
156.2
181.0
179.8
207.3
186.4
175.3
236.0
180.9
161.6
245.4
171.0
157.2
253.4
169.0
156.6
257.2
166.3
166.8
259.9
176.1
- 178. 6
260.7
- 153. 0
147 2
- 184. 2
160.5
150.0
155.4
'15.9
-16.6
-15.3
-15.9
- 15.1
-14.4
-16.5
- 19.8
-14.6
-14.9
16.5
-162
-169
-169
-178
- 176
-169
193
- 224
-230
-210
251
250
11.5
122
11.4
126
13.6
145
13.0
151
11.1
127
11.4
130
11.5
184
10.1
147
9.4
141
10.7
142
519. 70
595. 38
657. 56
630. 40
714. 28
712. 12
560. 12
595. 83
610. 47
501. 86
384. 56
363. 55
397.44
328. 54
317. 14
310. 21
235. 24
9,937
171.1
168.2
198.1
167.9
164.5
204.2
143.0
162.7
114.2
- 166. 8
184.9
-12.3
13.7
- 180
'•171
REAL ESTATE
Mortgage applications for new home construction:
FHA net applications!
thous. units ..
Seasonally adjusted annual rates!
Requests for VA appraisals
Seasonally adjusted annual rates
do
do
do
131.7
138.2
Home mortgages insured or guaranteed byFed. Hous. Adm.: Face amount
mil. $.. 6, 495. 94 7, 120. 63
Vet. Adm.: Face amount§_.
..
_do
Federal Home Loan Banks, outstanding advances
to member institutions, end of period
mil. $..
New mortgage loans of all savings and loan associations, estimated total
mil $
By purpose of loan:
Home construction
do
Home purchase
do
All other purposes
do
Foreclosures
Fire losses (on bldgs., contents, etc.)
3, 773. 88 4, 073. 86
10.1
148
9.9
132
12.2
136
12.2
124
608. 39
494. 04
491. 60
541. 22
369.83
295. 68
329. 04
301.30
323. 09
308. 13
355.55
5,259
9,289
5,357
5,298
5,331
5,764
5,971
6,413
7,053
7,544
7,940
8,439
8,802
9,289
9,852
21, 983
21, 832
1,592
1,580
1,870
2,073
2,146
2,415
1,974
1,918
1,728
1,698
1,330
- 1, 508
1,041
286
652
392
300
'687
-521
221
525
295
4,756
11, 244
5,832
number.. 110,404
96, 124
8,292
7,503
8,443
8,305
mil. $.. 1, 829. 92 1, 952, 02
179. 47
149. 12
173. 91
169. 91
348
783
461
364
767
449
440
896
534
2
- Revised.
i Annual total reflects revisions not distributed to months.
Computed
from cumulative valuation total.
3 index as of Mar. 1, 1970: Building, 152.2; construction,
OData for Jan., May, July, and Oct. 1969 and Jan. 1970 are: or 5 weeks; other months,
4 weeks.
485
1,023
565
4,916
11 215
5,852
495
1,345
575
421
1,091
462
393
1,089
436
377
936
415
8,474
8,108
- 7, 503
-7,362
- 7, 812
8,594
7,306
8,422
157. 52
164. 57
148. 21
172. 14
154. 89
156. 54
146. 32
179. 43
482
1,113
551
365
862
471
20.0
184. 03
^Copyrighted data; see last paragraph of headnote, p. S-l.
{Revisions for 1961-68 for FHA applications will be shown later. Revisions for 1964-68
for construction materials output indexes appear in the Dec. 1969 issue of Construction Review (BDSA).
9 Includes data for items not shown separately. § Data include guaranteed direct loans sold.
SURVEY OF CURRENT BUSINESS
March 1970
Unless otherwise stated in footnotes below, data
through 1968 and descriptive notes are as shown
in the 1969 edition of BUSINESS STATISTICS
1968
1969
1969
Jan.
Annual
S-ll
Feb.
Mar. Apr. May
June
1970
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
DOMESTIC TRADE
ADVERTISING
Television advertising:
Network (major national networks) :
Net time costs total
m*l. $
Automotive , incl. accessories
do
Drugs and toiletries
do
Foods, soft drinks, confectionery
do
Soaps, cleansers, etc.
_. ._ _ do
Smoking materials
do
Allother
. . do
1,550.0
125.9
437.0
293.3
144.9
156.8
392.1
1, 698. 8
135.1
496.8
314.4
157.5
175 0
420 0
Magazine advertising (general and natl. farm magazines) :
Cost, total
mil. $ _ 1, 196. 1
63.5
Apparel and accessories
__do
112.6
Automotive, incl accessories
do
32.3
Building materials
do .
Drugs and toiletries
_do
144.4
Foods, soft drinks, confectionery..
do
106.3
1, 245. 3
60.6
114.4
26.5
158.7
101.5
67.2
2.0
6.8
1.4
8.7
5.8
88.6
3.7
87
22
11.8
8.9
108.6
7.0
11 3
101.8
76.5
60 0
15.7
48.2
481 4
3.2
2.8
3.7
1.1
3.2
28 5
4 6
3.1
33
14
35
37 2
3 575 1 256 0
1 017 1 77.1
2 558 0
178 9
11.6
173 3
8.6
81 7
20 9
300 1
137.9
2 003 0
236 708
109 578
127 130
24 365
Beer, wine, liquors
._ do
Household equip., supplies, furnish ings., do
Industrial materials
do
Soaps, cleansers, etc
do
Smoking materials.
.
do
All other
do
95.6
75.7
56.7
22.2
43.2
443.6
Newspaper advertising linage (52 cities):
Total
mil. lines- 3, 381. 1
Classified
.
do
923.7
2 457.3
Display total
do
Automotive
. do__ _
171.0
Financial
..do
72.8
General
do _
296.1
Retail
.
__do
1, 917. 4
436.4
35.6
131.9
87.2
41.8
47 2
92.7
381.0
27.5
104.3
70.9
38.0
38 5
101 7
537.6
50.6
157.6
89.9
38.4
54 2
147.0
343 8
21.3
103.1
66.4
39.4
35 0
78.6
9.3
122.2
7.9
11 3
37
13.8
9.7
125.7
5.3
11 2
41
15.4
8.8
98.8
2.4
93
2 7
14.4
8.6
71.4
1.0
53
1
10 9
7 7
73 4
61
4 4
14
U q
58
113.4
9.4
9.0
2.7
14.6
8.2
133.3
6.2
17 1
2 8
14.6
9.4
133.9
5.6
13 2
16
15 8
11.3
106.7
3.9
66
10
15.4
8.1
69.9
1.8
5.4
.8
9.1
5.0
73
6.9
4 8
17
36
41 6
85
8.4
4 6
2 2
4 3
47 6
95
10 5
73
17
4 1
47 8
9 2
64
56
12
38
35 2
6 7
4 4
4 5
g
36
26 4
47
32
4 Q
7.4
7.0
6.0
1.1
4.3
43.6
11.3
10.2
5.6
1.4
4.3
50 5
12 8
89
60
15
4 9
52 3
16.6
4.7
37
.9
5.0
40 9
3.6
3.1
3. 1
.9
3.9
33 5
250 5
75 6
174 8
13 5
53
23 6
132 5
304 7
89 7
215 0
15 0
70
27 3
165 7
299 7
87 7
212 0
16 1
78
26 6
161 4
326 6
95 7
oqn Q
no
303 1
89 8
213 2
15 7
78
25 5
164 3
273 3
83 7
339 6
83 4
256 2
13 7
59
307 2
66.9
240 3
98
70
21 7
201 7
17, 576
8,017
9 560
16 897
7 962
8 935
19 158
8 878
10 280
19 912
9 489
10 423
20 150
9 420
in 79.fi
20 036
9 549
20 008
22, 523
13, 180
9,343
22 720
13 404
9 315
23 116
13 723
9 393
23 349
14 031
9 318
23 348
H * fififi
23 500
14 227
9* 273
26 203
8,335
5,137
4,806
331
24 812
8 245
5 058
4 743
315
27 920
9 222
5 707
5 339
368
28 781
9 742
5 924
5 500
424
1,267
786
401
938
727
211
17,868
1,403
370
530
215
1 216
768
074
968
766
202
16,567
1 214
289
479
ion
1 291
842
372
1 098
866
232
18,698
1 528
330
600
265
1 281 1 386
838
902
41 9
372
1 271 1 344
980
1 033
291
311
19,039 20, 553
1 fifi9
1 642
OQ1
368
fi49
626
2 Q
12 1
fi 1
m
l
18Q A
U 7
9
8
147 1
3
C
97 Q
293 9
86.1
207 8
16 7
6.1
25 1
159 9
326
89
237
14
7
30
184
10,742
20,638
9 575
11 063
21, 935
10 137
11 799
19 720 'r20,703
8 892 r 9, 040
10 828 11 664
14,262
9, 233
23,669
14 138
9 531
24 229
14 321
9 909
24 288 ' 24,365 24, 366
14 273 'T 14 376 14 365
9 989 10 001
10 015
28 583
9 364
5 481
5 103
378
30
10
6
5
202.0
14. 0
4.6
18. 2
165.3
3
0
3
7
3
6
8
qi 7
204 9
247
72
174
10
9
17
137
6
9
7
3
6
8
0
WHOLESALE TRADE
Merchant wholesalers sales (unadj.), total, mil. $_. 219, 943
Durable goods establishments
__ - _ do .. 100, 012
Nondurable goods establishments
do
119 930
Merchant wholesalers inventories, book value,
end of year or month (unadj.), total.-, mil. $ _
Durable goods establishments
do
Nondurable goods establishments . .. .do -
22, 487
13 245
9 242
14 °.7fi
9
Q8Q
9
oq q^n
H
9
I 79
177
10 207
&
4QR
5 750
5 695
4Kfi
5
417
171
44 1
9
988
9ft ft7A
or e
Ifi 48 *»
18, 705
8,268
10 436
RETAIL TRADE
All retail stores: 1
Estimated sale* (unadj ) total
mil $ a339 324 qci eqq
Durable goods stores 9
do_ __ 110, 245 112 779
Automotive group
do
65 261
fifi Q1 1
Passenger car, other auto, dealers., .do
60, 660
62 048
Tire, battery, accessory dealers _ _ do _
4,601
4 Q«q
Furniture and appliance group 9
do. _
16, 540
Furniture, homefurnishings stores
do. .
10, 227
Household appliance, TV, radio
do
5,235
Lumber, building, hardware group
do
Lumber, bldg. materials dealers d"
do _. 10, 984
Hardware stores
do. __
Nondurable goods stores 9
do
"229, 079
Apparel group _
do
19, 265
Men's and boys' wear stores.
do.
4,516
Women's apparel, accessory stores.. .do
7,429
Shoe stores. ._
.... do
3,196
Drug and proprietary stores
Eating and drinking places
Food group
Grocery stores
Gasoline service stations
do
_ do
do
do
_ do
General merchandise group with nonstores 9
mil $
General merchandise group without nonstores 9 §
mil $
Department stores
do
Mail order houses (dept. store mdse).do . . .
Variety stores . .
do
Liquor stores
do
Estimated sales (seas, adj.), total
_ do
Durable goods stores 9
do
Automotive group
do
Passenger car, other auto dealers
do
Tire, battery, accessory dealers
do
Furniture and appliance group 9
Furniture, homefurnishings stores
Household appliance, TV, radio
Lumber, building, hardware group
Lumber, bldg. materials dealers d"
Hardware stores
do
do
do ..
do
do
do
16 719
10 439
5 990
14 562
11 278
3
984.
238, 854
4
7
7R1
ana
942
1,918
6,212
5 834
1,992
11 458
25, 285
°72 881
°67 925
24, 526
54 493
49, 295
33, 323
3,256
6,152
6,969
58, 615
36,411
3 519
3,587
3,198
2,203
202
375
580
28,955
9,446
5 574
5 157
417
1 402
876
446
1 219
958
261
1
0-|7
9 ooo
C
qCQ
5
1
8°.fi
3
41fi
R Ififl
7fifi
2 053
4
6' 9AA
fi9^
c 1 c9
1 417
899
44fi
1 370
1 073
297
19,418
1
lift
375
574
98R
98Q
29,424
9 fl7°.
K
QCQ
t rA
992
2,430
6,666
6, 234
fQf\
2
947
4,771
41IY7
411
qoq
9 Qft7
n fl70
5,098
1 401
855
441
1 279
1 °.41
1 048 i ft°.9. 1 018
9Q7
261
19,530 20,476 19,219
1 471
1 642
1,471
qqrv
354
ec-l
626
328
337
I
QO-I
q oqo
1S4
969
2 199
6 125
5 712
2 060
5 107
2,775
245
3,064
270
1 358
825
436
1,173
906
267
28 881
9,377
5,518
5 099
419
29 386
9,481
5,516
5 102
414
29 371
9,545
5 634
5 220
414
29 090
9,141
5 419
5 Oil
408
29 346
9 161
5 412
5 013
399
29 259
9,384
5,665
5 272
393
4q4
1 409
922
400
1 261
992
269
1 4°.°.
1 436
902
455
1 224
943
281
1 459
895
478
1 234
951
283
1 380
852
445
1 190
899
291
1 352
841
424
1 185
905
280
1 364
847
417
1 190
925
265
1
920
431
1 330
1 049
281
fi97
903
436
1 261
974
287
986
255
593
168
119
4 583
3,126
338
538
611
29 620
9,354
5,638
5,238
400
29 257
9,597
5 607
5 172
435
114
2
6
6
2
4 669
29 409
9,575
5 572
5 145
427
ccn
2,862
244
1 434
889
446
1 309
1 037
272
20, 590
1 747
'403
672
307
4 186
2,877
274
492
2,778
268
2,966
258
eqq
645
055
088
673
415
4,938
2,632
282
464
2,041
223
°.ofi
' •R.^ed; ° Monthly revisions for Jan.-Nov. 1968 appear in the Census Bureau Monthly
Retail Trade Report, Dec. 1969 issue.
i Advance estimate.
9 Includes data for items not shown separately.
989
932
QQA
9Q
10 259
177
r 35 963 T 26 801 i 24 973
1
9 107 ' 9, 799 ' 7 783 7, 577
5 q7B r 5 072 T 4 657 i 4 591
4 968 ' 4,r 613 4^324
333
459
410
9Q 8°.Q
1 436
891
456
1 142
879
263
20,732
1 782
' 446
666
300
Qfifi
9 191
R qqi
5 Q99
9 ft1°.
' 1, 847 ' 1 3071 1,219
780
' 1, 046
416
' 632
872
' 1, 186
671
'818
201
368
i 17,396
19,018
'26,164
T 2 838 ' 1 420 i 1 196
r 745
375
r 1 025
521
r 444
242
r \ 347 T i 009
r 2 120
' 1 949 i
6 800 ' 6 747 i
r 6 351 ' 6 336 i
r 2 131
T 2 029 i
i 962
i 859
g 005
5 620
i 864
r 8 636 r 3 970
i 3 715
8 063 T 3 546
572 ' 2, 423
3,515 ' 5,
r
232
507
408
408
590 r 1 088
fiqo
601
"87^
r
29,304
29,419
29471
9,229 ' 9, 275 ' 8, 852
5,565 ' 5, 453 5,106
4,700
5 170 r 5, 086
406
'367
395
i 3 295
i 2, 186
5
fi4Q
K 190
T
1 332 T 1 399
838
'855
423
'439
1,168 ' 1, 180
'916
909
264
259
i 29,418
i 8, 790
1 435
872
452
1,144
896
248
^Comprises lumber yards, building materials dealers, and paint, plumbing, and electrical
stores.
§ Except department stores mail order.
SURVEY OF CURRENT BUSINESS
S-12
1968
Unless otherwise stated in footnotes below, data
through 1968 and descriptive notes are as shown
in the 1969 edition of BUSINESS STATISTICS
1969
March 1970
1969
Annual
Jan.
Feb.
Mar.
Apr.
May
June
1970
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
DOMESTIC TRADE—Continued
RETAIL TRADE— Continued
All retail stores— Continued
Estimated sales (seas, adj.)— Continued
Nondurable goods stores 9
Apparel group
IVten's and boys' wear stores
Women's apparel accessory stores
Shoe stores
Drug and proprietary stores
Fating and drinking places
Food group
Grocery stores
Gasoline service stations
20,242 »-20 144 r 20 452 120 628
1,677 T 1 681
1 624
406
'397
398
627
••603
604
305
••335
276
mil. $
do _
do
do
do
« 19,509
1,640
406
622
249
19,660
1,702
416
645
261
19,504
1,613
393
615
245
19,834
1,746
414
649
266
19,905
1,665
399
633
266
19, 826
1,660
375
640
296
19,949
1,700
375
658
306
20,185
1,738
400
653
332
19875
1,676
388
645
316
20, 266
1,719
do
do
do
do
do
979
2,094
«0 6, 281
5, 875
2,097
959
2,123
6,314
5,923
2,091
960
2,107
6,249
5 848
2,132
963
2,133
6,211
5 806
2, 106
996
2,186
6,312
5,906
2,119
975
2,191
6,278
5 868
2 086
994
2,110
6,275
5 863
2,080
1 013
2 150
6,429
6 006
2 075
1 019
2 173
6 326
5 907
2 089
1 007
2,219
6,450
6 035
2 090
1,004
2,233
6,429
6 012
2 078
' 1 000
4,601
4,694
4 637
4,920
4,844
4 857
5 019
5 000
4 864
5 000
4,987
r
4,176
2,861
273
535
634
4 273
2 924
298
534
603
4 211
2 895
296
517
601
4 468
3 080
294
558
619
4,397
3,011
285
546
615
4 398
2 991
294
552
627
4 556
3 143
287
560
642
4 524
3 117
285
554
640
4 362
2 988
281
526
617
4 486
3 065
4 475
3 083
4 602
"•4 554
'3 113 3 126
r 310
327
r
553
566
r
594
637
General merchandise group with nonstores 9
mil $
General merchandise group without nonstores 9 §
mil $
Department stores
do
Ivlail order houses (dept store mdsp )do
Variety stores
do
Liouor stores
do
Estimated inventories, end of year or month :
Book value (unadjusted), total
mil. $
Durable goods stores 9
-do _
Automotive group
do
Furniture and appliance group
-do _
Lumber, building, hardware group do_ __
401
652
314
302
553
618
294
550
614
••2 137
6 436
r 6 026
' 2 097
4 998
1 029
2 125
6 606
6 169
2 131
5 061
41, 346
18, 846
8,758
3,029
2,797
44, 247
19, 956
9,710
3,130
2,773
41, 544
19, 581
9,387
3,014
2,841
42, 597
19, 884
9,575
3,010
2,926
43, 744
20, 326
9, 774
3, 105
3,005
44, 237
20, 548
9,938
3,127
3,046
43, 948
20, 132
9,643
3,075
3,012
43, 753
20, 149
9,735
3,036
2,980
43, 688
19, 802
9,425
3,075
2,902
43, 015
18, 516
8,051
3,105
2,878
44, 284
18, 995
8,569
3,124
2,856
45, 849
19, 508
8,966
3,210
2,837
46, 969
20, 036
9 385
3,311
2,832
44, 247
19, 956
9,710
3,130
2,773
43,635
19, 871
9,688
3,024
2,756
Nondurable goods stores 9
do _
Apparel group
do
Food group
do
General merchandise group with nonstoros
mil. $
Department stores
do
22, 500
4,536
4,511
24, 291
4,891
4,822
21, 963
4,402
4,536
22, 713
4,695
4,503
23, 418
4,899
4 578
23, 689
4,925
4 575
23, 816
4,902
4,627
23, 604
4,826
4,627
23, 886
4,873
4,624
24, 499
5,204
4,620
25, 289
5,344
4 676
26, 341
5,387
4,794
26, 933
5,511
4 896
24, 291
4,891
4 822
23, 764
4,701
4 676
9,237
5,286
10, 105
5,771
8,925
5,105
9,403
5,384
9 783
5 615
10 013
5,752
10, 141
5,782
9 982
5,686
10 194
5,824
10. 431
5,979
10 946
6 284
11 735
6,787
11 952
6 962
10 105
5 771
9 994
5,643
Book value (seas, adj.), total
__do_
Durable goods stores 9
do
Automotive group
do
Furniture and appliance group _
do __
Lumber building hardware group do
42, 657
19, 461
8,919
3,139
2 898
45, 838
20, 597
9,888
3,244
2,874
42, 740
19, 622
9,105
3,136
2,908
43, 014
19, 487
8,974
3,113
2,974
43,004
19 542
9 008
3, 146
2 955
43, 118
19 567
9,084
3,102
2,966
43, 025
19, 044
8,711
3,042
2,924
43, 438
19 365
9,047
3,015
2 927
43, 874
19, 358
9,011
3,078
2 908
44, 322
19, 756
9,394
3,108
2,898
44, 806
20 079
9,738
3,072
2 867
45, 378
20, 564
10, 154
3,113
2,851
45, 537
20 602
10 146
3 165
2 841
45, 838
20 597
9 888
3,244
2 874
45, 157
20, 075
9, 568
3,147
2,821
Nondurable goods stores 9
do .
Apparel group
_
-do
Food group
.
__do
General 5 merchandise group with nonstore '
mil. $
Department stores. __
do
23, 196
4,760
4,493
25, 241
5,132
4,803
23, 118
4,811
4,554
23, 527
4,880
4,548
23, 462
4, 909
4,569
23, 551
4,910
4,552
23, 981
4,972
4,641
24, 073
5,038
4,646
24, 516
5,092
4,694
24, 566
5,097
4,695
24, 727
5,037
4,704
24, 814
4,970
4,686
24 935
5,028
4,795
25, 241
5,132
4,803
25, 082
5,138
4, 695
9 806
5,576
10, 829
6,139
9 653
5,598
9 924
5,746
9 859
5,683
9 975
5,735
10, 275
5, 876
10 274
5,904
10 488
6,029
10, 483
6,027
10 525
6,025
10, 633
6,060
10 632
6,075
10 829
6,139
10, 807
6,188
94, 194
103, 070
7,248
6,744
7,883
8,093
8,755
8,198
8,249
8,786
8,274
9,041
9,258 r 12, 541
8,108
5 186
767
1,837
1 335
3 373
2,122
1 303
5,921
905
2,090
1,598
3,777
2,487
1,354
462
68
159
136
293
218
129
412
53
150
113
311
210
123
503
65
176
149
328
224
115
505
70
178
155
315
229
113
531
85
192
139
318
231
115
556
110
191
144
320
208
112
38 395
35 708
26 184
4 821
"34 295
1 736
Firms with 11 or more stores:
Estimated sales (unadj.), total9
_ do
Apparel group 9
do
Men's and boys' wear stores
do
Women's apparel, accessory stores
do
Shoe stores
do
Drug and proprietary stores
do
Eating and drinking places.
__ _ do _.
Furniture and appliance group
do
General merchandise
group with nonstores 9
mil. $
General merchandise croup without nonstores §
rnil $
Dept. stores, excl. mail order sales.- .do __
Variety stores
do
Grocery stores
Tire, battery, accessory dealers
do
do
Estimated sales (seas, adj.), total 9
do
a
307
46
113
76
253
167
87
441
57
158
117
279
194
89
479
63
167
120
283
212
114
41, 997
2,522
2 397
3 028
3 243
3,401
3 282
3 251
3,532
3,320
3,636
4,045
' 6, 340
2,822
39, 222
28, 934
5,232
2,338
1,732
294
2 213
1,607
307
2 823
2,074
373
3 017
2,211
416
3,163
2,346
428
3 052
2,275
410
3 028
2,238
401
3,315
2,471
432
3,084
2,292
390
3,379
2,478
429
3,783 '6 027
2,786 r 4, 424
477
••875
2,627
1,934
325
37, 163
1,816
3,076
124
2,829
113
3 045
135
2,876
163
3,303
171
2 903
180
3,072
173
3,244
147
2,955
134
3,303
159
3,148
>• 3,r 409
171
3,494
111
°8 261
8,381
8 305
8 555
8,482
8 551
8 693
8,718
8,578
8,822
8,739
T
8, 902
9,042
454
68
168
104
301
188
457
67
167
108
291
187
443
65
159
106
291
194
502
70
177
114
298
214
462
67
163
122
320
205
487
68
171
138
299
206
505
67
181
140
327
202
519
78
181
150
337
215
514
80
182
150
341
226
514
79
183
142
332
228
515
93
177
147
326
216
523
'85
111
••314
r
207
498
90
177
125
340
217
3,302
3,393
3 330
3,556
3,452
3 407
3,603
3,553
3,432
3,559
3,519
r
3, 695
3,665
r
3, 447
r 2, 556
'442
3,447
2,515
459
General merchandise
group with nonstores 9
mil. $
General merchandise group without nonstores §
mil $
Dept. stores, excl. mail order sales
do
Variety stores
do
All retail stores, accounts receivable, end of yr. or mo.:
Total (unadjusted).
mil $
Durable goods stores
do
Nondurable goods stores
do
Charge accounts
do
Installment accounts
do
Total (seasonally adjusted).
Durable goods stores. _
Nondurable goods stores. .
Charge accounts
.
Installment accounts
• Revised.
do
do
do
do
do
« See corresponding note on p. S-ll.
20
7
13
8
11
630
140
490
677
953
19 378
6 941
12 437
8,317
11, 061
3,316
2,432
146
906
' 163
'314
' 237
"•489
'205
••143
r
r
158
3,092
2,264
430
3,177
2,339
430
3 109
2 297
412
3 325
2 440
449
3,220
2,367
439
3 168
2 326
439
3 379
2 501
450
3,338
2,493
439
3,199
2,360
418
440
3,264
2,406
437
3, 027
156
3,095
154
3 060
152
2 988
160
3,039
154
3 088
164
3 094
162
3,146
146
3,120
3,197
3,199
142
' 3, 213
'131
3,328
135
746
790
956
173
573
19, 353
6 730
12 623
7, 950
11 403
19 230
6 732
12 498
8 058
11 172
19 427
6 865
12 562
8 257
11 170
19, 734
6 964
12, 770
8,459
11 275
19
7
12
8
11
806
189
617
423
383
19,566
7 151
12,415
8,223
11 343
19, 634
7,122
12, 512
8,228
11,406
19, 734
7,134
12, 600
8,260
11,474
19, 853 '20, 143
7,159 r 7 082
12, 694 r!3, 061
8,326 r 8, 312
11 527 r ll 831
21,490
7,174
14, 316
8,648
12 842
20, 670
6,826
13, 844
8,185
12, 485
19 381
6,907
12, 474
8,274
11, 107
19 741
7, 068
12, 673
8, 389
11, 352
19 665
7,040
12, 625
8,388
11,277
19 746
7,096
12, 650
8,368
11,378
19, 771
7,001
12, 770
8,280
11,491
19 695
7,003
12, 692
8, 186
11, 509
19,824
7,069
12,755
8,187
11,637
19, 849
6,988
12, 861
8,240
11, 609
19, 996
7,026
12, 970
8,299
11,697
19, 996 r 20, 087
7,002 r 7, 055
12, 994 *• 13, 032
8,198 r 8, 190
11, 798 r 11, 897
20, 140
6,976
13, 164
8,280
11, 860
20, 274
6,955
13, 319
8,306
11,968
0
do
do
396
80
134
101
314
205
85
351
59
123
85
273
177
86
Apparel group 9
do
Men's and boys' wear stores
. do
Women's apparel, accessory stores
do
Shoe stores
_ _
. __do
Drug and proprietary stores
do
Eating and drinking places..
_
do __
Grocery stores
Tire, battery, accessory dealers
r
,468
66
169
127
315
212
128
19
6
12
8
11
1 Advance estimate.
9 Includes data not shown separately.
143
158
§ Except department stores mail order.
SURVEY OF CURRENT BUSINESS
March 1970
Unless otherwise stated in footnotes below, data
through 1968 and descriptive notes are as shown
in the 1969 edition of BUSINESS STATISTICS
1968
1969
1969
Jan.
Annual
S-13
Feb.
Mar.
Apr.
May
Jure
1970
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.*
LABOR FORCE, EMPLOYMENT, AND EARNINGS
POPULATION OF THE UNITED STATES
Total incl armed forces overseas
mil
i 201. 15 i 203. 22
202. 25
202. 40
202. 55
202. 71
202.88
203. 05
203. 22
203. 40
203. 61
203.82
204. 01
204. 18
204. 35
204.51
84, 239
80, 733
77, 902
74, 296
3,606
2,831
81, 711
78, 234
75, 358
72, 192
3,165
2,876
82, 579
79, 104
76, 181
72, 896
3,285
2,923
82, 770
79, 266
76, 520
73, 193
3,327
2,746
83, 137
79, 621
77, 079
73,471
3,607
2,542
83, 085
79, 563
77, 264
73,370
3,894
2,299
85, 880
82, 356
78, 956
74, 589
4,367
3,400
86, 318
82, 797
79, 616
75,460
4,155
3,182
86, 046
82, 516
79, 646
75, 669
3,977
2,869
84, 527
80, 984
78, 026
74, 397
3,629
2,958
85, 038
81,510
78, 671
75, 110
3,561
2,839
84, 920
81, 427
78, 716
75, 395
3,322
2,710
84,856
81, 416
78, 788
75, 805
2,984
2,628
84, 105
80, 719
77, 313
74, 398
2,915
3,406
84, 625
81,283
77,489
74,495
2,994
3,794
80, 379
77, 650
73, 940
' 3, 71,0
' 2, 729
'359
80, 434
77, 589
73, 928
' 3, 661
2,845
'381
80, 789
77, 931
74, 370
' 3, 561
' 2, 858
'400
80, 987
78, 142
74, 528
' 3, 614
' 2, 845
'385
81, 325
78, 194
74, 696
3,498
3,131
392
81, 523
78, 445
74, 999
3,446
3,078
363
81, 379
78, 528
75, 094
3,434
2,851
389
81, 583
78, 737
75, 302
3,435
2,846
392
82, 213
79,041
75, 615
3,426
3,172
409
82, 249
78, 822
75, 323
3,499
3,427
465
LABOR FORCE
Labor force, persons 16 years of age and over__thous_.
Civilian labor force
do
Employed total
do
Nonagricultural employment
do
Agricultural employment
do
Unemployed (all civilian workers)
do
Seasonally Adjusted J
Civilian labor force!
do
Employed total
do
Nonagricultural employment
do
Agricultural employment
do
Unemployed (all civilian workers)
do
Long-term, 15 weeks and over
do
Rates (unemployed in each group as percent
of total in the group) :%
All civilian workers
Men, 20 years and over
__
Women, 20 years and over
Both sexes 16-19 years
Married men
Negro and other races
82, 271
78, 737
75, 921
72, 104
3,817
2,816
3.6
2.2
3.8
12.7
1.6
6.7
3.2
3.5
2.1
3.7
12.2
1.5
6.4
3.1
2.0
'3.6
'12.0
1.4
'6.2
3.0
3.3
1.9
'3.6
'12.0
1.4
'5.9
'3.0
3.4
1.9
'3.6
'12.6
1.4
'6.1
3.1
3.5
2.0
3.8
'12.7
1.5
'7.0
3.1
3.5
2.0
3.7
'12.4
1.5
'6.4
3.1
3.4
2.0
3.7
'11.7
1.5
'6.8
3.0
'3.5
2.2
3.7
12.2
1.6
'6.5
3.2
3.5
2.1
3.8
'12.3
1.5
'6.4
3.2
3.8
2.4
3.9
12.9
1.7
6.7
3.5
3.8
2.3
3.8
12.9
1.6
6.6
3.5
3.5
2.1
3.6
11.8
1.5
6.2
3.2
3.5
2.2
3.5
11.8
1.7
5.7
3.2
3.9
2.5
3.6
13.8
1.8
6.3
3.6
4.2
2.8
4.1
13.4
2.0
7.0
3.8
Occupation' White-collar workers
Blue-collar workers.. .
Industry of last job (rionagricultural):
Private wage and salary workers
Construction
.
Manufacturing
Durable goods
EMPLOYMENT
Employees on payrolls of nonagricultural estab.:
Total, not adjusted for seasonal variation, .thous..
2 0
4.1
2.1
3.9
1.9
3.8
1.9
3.6
2.0
3.7
1.8
'4.0
'2.0
3.8
2.1
3.7
2.2
3.8
2.2
3.8
2.2
4.4
2.4
4.2
2.1
4.2
2.1
4.3
2.1
4.6
2.3
5.0
3.6
6.9
3.3
3.0
3.5
6.0
3.3
3.0
3.4
'5.6
3.2
'2.8
3.3
'5.6
2.9
'2.5
3.4
'6.1
3.1
'2.8
'3.5
'6.0
3.2
3.0
3.5
'5.7
3.1
2.9
3.5
'5.1
3.3
'3.2
'3.5
'5.9
3.2
'3.1
'3.5
'7.0
2.9
2.3
3.9
7.4
3.7
3.2
3.8
7.3
3.6
3.2
3.6
5.4
3.7
3.6
3.6
6.0
3.8
3.7
3.9
7.1
3.8
3.8
4.3
7.9
4.6
4.7
67, 860
70, 141
68, 196
68, 403
68, 894
69, 462
69,929
70, 980
70,347
70, 607
70, 814
71, 198
71, 227 '71,629 '69,755
69, 655
thous
do ..
do
do
do .
67, 860
610
3,267
19, 768
11, 624
70, 141
628
3,411
20, 121
11, 880
69, 199
626
3,338
19, 999
11,819
69, 487
628
3,366
20, 061
11, 839
69, 710
626
3,374
20, 122
11, 881
69, 789
624
3,363
20, 111
11, 868
70,013
622
3,407
20,118
11,874
70,300
622
3,466
20, 198
11, 931
70,247
629
3,434
20,164
11,912
70,500
631
3,410
20, 334
12, 081
70, 390
631
3,420
20, 197
11, 965
70, 651
631
3,418
20, 156
11, 932
70, 635 '70,679 '70,778
632
635
'632
3,461 ' 3, 459 ' 3, 328
20,004 '20,007 ' 19, 964
11, 740 '11,738 ' 11, 664
70, 766
632
3,409
19, 806
11, 544
Ordnance and accessories
do
Lumber and wood products ...
do ..
Furniture and fixtures
do
Stone, clay, and glass products . do
Primary metal industries
do _.
Fabricated metal products
do
Machinery, except electrical
.. do
Electrical equip, and supplies
do
Transportation equipment
do
Instruments and related products., do ..
Miscellaneous manufacturing ind
do
Nondurable goods.
do
Food and kindred products
do
Tobacco manufactures
do
Textile mill products.
_. do
Apparel and other textile products. _ _ do
Paper and allied products
do ..
Printing and publishing. .
do
Chemicals and allied products
do
Petroleum and coal products
do
Rubber and plastics products, nee do
Leather and leather products
. . do
Transportation, communication, electric, gas,
and sanitary services,
.
thous
Wholesale and retail trade
do
Wholesale trade.
do
Retail trade
..
do
342
598
474
637
1,314
1,394
1,961
1,982
2,028
460
435
8,144
1,781
84
991
1,408
693
1,063
1,026
187
557
356
328
600
492
661
1,350
1,454
2,006
2,038
2,035
470
444
8,241
1,794
81
987
1,418
716
1,086
1,049
184
581
345
349
606
490
664
1,321
1,437
1,981
2,013
2,045
466
447
8,180
1,792
84
1,000
1,424
709
1,076
1,040
128
573
354
346
607
494
666
1,330
1,444
1,997
2,026
2,020
468
441
8,222
1,801
82
999
1,409
713
1,077
1,044
170
577
350
346
608
494
664
1,332
1,451
1,993
2,036
2,042
470
445
8,241
1,793
83
995
1,417
714
1,078
1,045
187
579
350
343
604
496
658
1,326
1,450
1,999
2,046
2,029
472
445
8,243
1,795
81
991
1,425
710
1,078
1,044
190
579
350
342
610
496
656
1,333
1,453
1,999
2,058
2,009
474
444
8,244
1,793
82
987
1,426
714
1,075
1,046
190
581
350
337
607
496
662
1,347
1,456
2,010
2,063
2,035
473
445
8,267
1,789
81
990
1,429
717
1,083
1,055
191
584
348
332
600
491
658
1,348
1,456
2,007
2,070
2,032
471
447
8,252
1,787
81
988
1,423
716
1,084
1,054
191
585
343
325
598
493
659
1,361
1,465
2,005
2,076
2,183
473
443
8,253
1,797
83
979
1,414
718
1,089
1,052
190
586
345
314
595
492
660
1,378
1,468
2,020
2,075
2,054
469
440
8,232
1,791
80
979
1,412
718
1,093
1,051
189
583
336
306
589
491
662
1,381
1,456
2,030
2,076
2,030
469
442
8,224
1,777
78
977
1,410
720
1,099
1,050
191
583
339
304
591
488
664
1,378
1,456
2,012
1,958
1,983
468
438
8,264
1,808
78
979
1,409
722
1,103
1,053
193
581
338
299
'591
'486
664
1,371
' 1, 459
' 2, 025
' 1, 952
' 1, 972
468
'451
' 8, 269
' 1, 803
'76
'982
1,414
'724
' 1, 102
1,055
193
'581
339
'290
'591
'485
'661
' 1, 352
' 1, 454
' 2, 017
' 1, 953
' 1, 950
'465
'446
'8,300
' 1, 812
'80
986
' 1, 421
'726
' 1, 107
' 1, 055
194
581
'338
286
579
481
659
1,336
1,444
2,027
2,029
1,804
456
443
8,262
1,815
81
975
1,402
724
1,104
1,057
194
576
334
4,313
14, 081
3,618
10, 464
4,448
14, 644
3,767
10, 876
4,353
14, 412
3,701
10, 711
4,373
14, 468
3,714
10, 754
4,399
14, 508
3,726
10, 782
4,439
14, 533
3,737
10, 796
4,444
14,609
3,758
10, 851
4,467
14, 665
3,774
10, 891
4,483
14,671
3,773
10,898
4,484
14, 702
3,776
10, 926
4,480
14, 716
3,787
10, 929
4,480
14,809
3,807
11,002
4,484
14, 836
3,815
11,021
' 4, 489
'14,773
' 3, 837
' 10, 936
' 4, 518
' 14, 913
' 3, 864
'11,049
4,502
14, 978
3,887
11, 091
3,383
10, 592
11, 846
2,737
9,109
3,559
3,490
3,502
11, 103 10, 900 10, 967
12, 227 12, 081 12, 122
2,757 « 2, 760
2,767
9,469 0 9, 321 9,355
3,515
11,034
12, 132
2,759
9,373
3,531
11, 044
12, 144
2,758
9,386
3,541
11,065
12,207
2,754
9,453
3,557
11, 066
12, 259
2,790
9,469
3,568
11,067
12,231
2,777
9,454
3,581
11, 120
12, 238
2,752
9,486
3,586
11, 150
12, 210
2,749
9,461
3,595
11, 244
12, 318
2,729
9,589
3,613
11, 264
12, 341
2,721
9, 620
' 3, 623 ' 3, 647
'11,297 '11,352
' 12, 396 ' 12, 424
2,720 ' 2, 714
' 9, 676 ' 9, 710
3,654
11,360
12, 425
2,723
9,702
14, 505
14, 735
14, 584
14, 644
14, 604
14, 624
14, 923
14,665
14, 971
14, 997
14, 918
14, 732 '14,647 '14,370
Seasonally Adjusted
.
.
Total
Mining
Contract construction
Manufacturing ..
Durable goods..
Finance, insurance, and real estate
do
Services
do
Government..
do
Federal
do
State and local
do
Production workers on manufacturing payrolls:
Total, not seasonally adjusted
thous. .
79, 756
77, 081
73, 364
412
80, 199
77, 524
73, 688
r 3, 717
' 3, 836
' 2, 675 ' 2, 675
'351
375
'324
r3.4
14, 509
Seasonally Adjusted
Total. _ _
.
thous
14, 505
14,735 14, 684 14, 731 14, 771
Durable goods
do
8,456
8,606
8,628 8,654
8,639
Ordnance and accessories
do
192
196
197
183
195
Lumber and wood products
.. do
519
521
527
528
528
Furniture and fixtures
do
392
410
410
407
409
Stone, clay, and glass products
do
510
535
530
534
537
Primary metal industries
do.
1,046
1,063
,051
1,058
1,079
Fabricated metal products
do".
1,075
1,121
1,120
1,115
,109
Machinery, except electrical
do
1,341
1,372
1,370
1,363
,359
Electrical equipment and supplies
do
1,324
1,364
1,357
,344
1,355
Transportation equipment
do""
1,433
1,432
1,426
1,431
,439
Instruments and related products
do
284
292
290
289
288
Miscellaneous manufacturing ind
~do~!.
341
349
347
351
346
T
Revised.
* Preliminary.
1 As of July 1
I Effective with the Feb. 1970 SURVEY, labor fo rce data i eflect nevf season a 1 factors and
are not strictly comparable with figures previous^f publishe d; compa rable fig ures for prior
periods appear in EMPLOYMENT AND EARNINGS ' Feb. 1970 (USDL, Bureau ()f Labor Statistics) .
'
80, 130 '80,504
'77,321 '77,741
' 73, 544 ' 74, 058
' 3, 777 ' 3, 683
' 2, 809 ' 2, 763
'400
'385
14, 238
14, 740 14, 811 14,772 14, 922 14, 772 14, 732 14, 588 ' 14, 582 ' 14, 548 14, 388
8,674
8,492 ' 8, 487 ' 8, 423 8,308
8,701
8,823
8,687
8,630
8,668
' 156
155
163
168
167
173
181
192
188
187
497
511
'511
509
510
516
518
528
520
530
399
'402
'403
408
404
408
410
411
412
408
524
'525
'531
531
530
529
527
532
526
526
1,064
1,097
1,081
1,109
1,104
1.106
1,087
1,077
1,076
1,062
1,103
1,116
1,117
1,116 ' 1, 119
1,127
1,128
1,122
1,122
1,121
1,384
1,376
1,387
1,372 ' 1, 381
1,380
1,366
1,369
1,377
1,366
1,338
1,389
1,278 ' 1, 269 1,268
1,383
1,387
1,379
1,388
1,381
1,220
1,354
1,423
1,447
1,385 '1,375
1,582
1,434
1,430
1,399
278
'284
'286
288
286
289
292
292
291
294
346
'349
'353
345
343
340
345
350
348
347
a £Jeginning Jan. 19 59, feder il emplo yment in eludes a bout 39,()00 civili in techn icians of
r
the INational Guard \\ ho were transferi ed from State to 'ederal st atus.
14, 739
8,634
193
525
413
529
1,057
1,118
1,370
1,369
1,420
292
348
SURVEY OF CURRENT BUSINESS
S-14
Unless otherwise stated in footnotes below, data
through 1968 and descriptive notes are as shown in
the 1969 edition of BUSINESS STATISTICS
1968
March 1970
1969
1969
Jan.
Annual
Apr.
Mar.
Feb.
May
June
1970
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.'
LABOR FORCE, EMPLOYMENT, AND EARNINGS—Continued
EMPLOYMENT— Continued
Seasonally Adjusted
Production workers on manufacturing payrollsContinued
Nondurable goods
thous
Food and kindred products
. do
Tobacco manufactures
do
Textile mill products
do
Apparel and other textile products
do ...
Paper and allied products
... -do ..
Printing and publishing
do
Chemicals and allied products
do
Petroleum and coal products
_ do
Rubber and plastics products, nee
do
Leather and leather products
do
6 049
1, 191
71
878
1,242
537
665
608
118
6,096
1,204
68
871
1, 245
555
676
617
113
431
306
450
296
42.7
37.4
40 7
43.1
38.0
40.6
3.6
3.6
6 078
1 205
71
885
1 254
550
673
617
73
444
306
6 103
1 215
69 !
883 i
1 238
6 117 j
1 208
69 i
6 105
1 205
1 246
1 252
555
672
620
101
555
673
620
116
448
302
449
301
449
300
451
300
42 8
37.9 i
40 7
40 9
3 7 :
43.8
38.0
40 5
40.8
43.4
38.1
40.7
40.7
3.7
3.6
41.4
41.4
880
68
875
549
672
617
118
6 110
1,206
69
871
1,255
554
669
617
118
6 124
1 201
6 104
1 197
6 099
l' 204
6 071
1 199
6 058
1,185
6,096
1,217
1 255
1 248
1 242
1 239
1,238
1,238
455
294
454
296
451
287
450
289
449
289
43.2
37.9
40 6
40.6
43.2
38.1
41.0
40.8
43.8
38.2
40.6
40.5
3.7
3.7
42.9
37.5
40.7
40.5
41.3
41.5
41.2
40.4
40.1
40.1
42. 1
42.2
41.5
42.7
40.1
40.0
39.9
41.7
42.2
41.4
42.4
69
873
556
674
623
119
455
299
68
873
555
675
620
119
70
863
557
676
619
118
67
862
557
678
614
117
65
860
557
683
613
118
65
862
558
685
614
119
r
6 095
1,214
'63
863
' 6 125 6 080
' 1 223 1 226
66
'868
' 1, 241 ' 1, 248
'561
'561
r
688
685
614
'613
' 120
118
'448
'446
290
290
67
855
1 228
560
685
611
120
442
286
HOURS AND MAN-HOURS
Seasonally Adjusted
Average weekly gross hours per production worker
on payrolls of private nonagricultural estab.:
Mining
hoursContract construction.. .. ... . . ..
do.. .
Manufacturing* Not seasonally adjusted
do
Seasonally adjusted
do
Overtime hours
...
do
Durable goods
Overtime hours..
..
Ordnance and accessories
Lumber and wood products
Furniture and fixtures
.
Stone clay, and glass products
Primarv metal industries
Fabricated metal products
Machinery, except electrical -
. do
do ..
do
do
do .
do
do
do
..do . .
Electrical equipment and supplies
Transportation equipment
Instruments and related products
Miscellaneous manufacturing ind... ._
do
do
do
do. .
Nondurable goods
do
Overtime hours
..
. _ ..do
Food and kindred products
do
Tobacco manufactures . .
do. .
Textile mill products
do
Apparel and other textile products
do
Paper and allied products _
Printing and publishing
Chemicals and allied products
Petroleum and coal products . .
Rubber and plastics products, nee
Leather and leather products
do _
do
do
do ...
do
do
Wholesale and retail trade
do
Wholesale trade
...
... do ...
Retail trade
do
Finance, insurance, and real estate. _. ._ _do ...
41.4
41.3
43
38
40
40
3
41.1
40.5
40.4
40.3
39.9
42.0
41.6
41.4
42.2
'40.5
'40.4
40.0
'42.1
' 41.6
41.6
42.6
'40.8
'3.4
'40.7
'39.5
'39.5
'41.4
'41.2
'41.4
'42.3
3.2
7
6
7
0
40 9
41.5
40.8
39.5
40.6
41.1
40.8
39.1
40 6
41 6
40.9
39.2
40 3
42 3
40 9
39.1
40 4
41.2
40.9
39.0
40.5
41.8
41.0
39.0
40.2
41.3
40.7
38.8
40.1
40.6
40.9
38.9
'40.3
41.5
40.9
'39.2
'40.4
'40.0
'40.7
'39.2
39.8
40.3
40.6
38.8
39 1
3 2
40 7
36 6
39.9
35 2
39 9
3 4
40 9
36 5
40.9
36 0
39.8
39.8
39.8
39.7
39.6
39.7
39.5
39.6
39.8
40.8
38.1
41.0
36.1
40 7
39.5
41.2
36 2
40 6
38.2
41.2
36 0
40. 9
37.2
40.9
35.9
41.0
37.4
40.8
35.8
40.5
37.2
40.6
35.7
40.8
37.4
40.8
35.8
40.8
'36.3
40.9
'36.0
••39.7
'3.4
'40.8
'38.3
'40.3
'35.7
39.2
40 9
36.4
41.1
36 0
43 5
38.4
41 9
41 8
41.5
37 6
42 5
37.9
41 7
42 6
40.7
35 3
43 2
38.3
41 7
43 2
41.4
43.4
38.3
41 6
42 9
41.4
37 7
43.0
38.4
41.8
43.0
41.4
37.6
42.9
38.4
41.8
42.2
41.3
37.4
43.0
38.5
41 9
42.9
41.2
37 0
42.8
38.4
41.9
42.8
40.9
36.8
42. 8
38.3
41.6
42. 0
41.0
37.1
42.7
38.3
41.7
42.6
40.9
37.3
42.7
38.4
41.9
42.7
40.8
37.4
'42.8
38.6
••41.8
42.2
'41.1
37.7
'43.1
38.3
'42.0
r42.3
' 40. 9
37.7
42.6
37.8
41.8
41.6
41.2
36.7
35
40
34
37
35
40
34
37
35
40
34
37
35
40
34
37
35.7 i
40.1
34.3
37.0
35.7
40.0
34 2
37.2
35.7
40.0
34 2
37 0
35.8
40.3
34.3
37.0
35.7
40.3
34.2
37.1
35.5
40.3
33.9
37.1
35.5
40.2
34.0
37.2
35.4
'40.4
33.8
36.9
35.4
40.3
' 33. 9
'37.0
35.5
40.4
33.8
37.1
139. 43
139. 44
140. 18
139. 87
139. 80
118.6
78.9
119.0
82.8
118.1 !
121.0
128.5
118.4
83.0
119. 5
120.0
127.2
117.3
82.1
117.6
119.1
126.0
116.9
83.8
121.4
117.7
122. 9
' 117. 4
'83.4
' 121.7
^ 118. 3
' 123. 7
' 115. 1 1
'81.9 i
' 113. 3
4
4
7
2
39
41
39
37
7
6
7
6
39 8
3 3
40 8
37 8
41.2
36 1
39 7
3 4
40 8
37 4
40.8
35 9
39 8
3 6
40 6
37 2
40.6
36 2
42 9
38.3
41 8
49 5
41.5
38 3
43 0
38.3
41 8
4° 6
41.1
37 9
36
40
34
37
35 6
40 *?
8
1
4
2
134. 62
139. 06
137. 07
115.4
78 6
112 0
117 9
123 4
117.9
8'? 1
11() 1
119 5
195 9
117.4
82 0
117. 7
119 1
125.3
223.8
93.9
128 0
109.2
208.6
93 5
139 7
114 0
do
do..
do
do...
3.5
'41.3
40
41
40
39
40
41
40
39
1
3.5
49 9
40
41
40
39
37
43.5
38.1
39.8
39.9
41 9
41 9
42 7
40 3
42 2
40 5
39.3
9
3.5
'42.7
'37.1
'40.1
'40.3
'3.3
40 4
39 8
40.3
42 1
42 0
41 6
42.6
41
3
40
40
40
42
0 A
3.6
'43.4
'38.2
'41.0
'40.7
41.2
9
8
3
8
1
2
6
2
3
0
1
7
0
42 6
37.5
40 5
40 7
41 3
39
40 9
40*2
40 7
41 9
41 7
41 8
42 5
40
3
40
40
40
42
41
41
49
4
5
7
0
0
6
9
7
6
40.6
40.3
40.9
42.1
41.7
41.6
42.6
3
8
0
0
6
8
7
8
5
3.8
42
37
40
40
3
40 9
40 2
40.9
49 0
41 8
41 8
42.6
41
3
40
40
40
41
41
41
42
5
6
6
8
6
7
1
Man-hour indexes (aggregate weekly), industrial
and construction industries, total
1957-59=100..
Mining
do
Contract construction
do
Manufacturing
do
Durable goods. .
.
do
. .
3
0
0
1
5
40 5
40. 2
40 4
4° 0
41 8
41 6
42 5
3.8
41
40
40
41
41
41
42
Seasonally Adjusted
Man-hours in nonagric. estab., all employees, seasonally adjusted at annual rate
bil. man-hours ..
Ordnance and accessories
Lumber and wood products
Furniture and fixtures ...
Stone, clay, and glass products
43
38
40
40
3
3
2
4
6
8
7
1
2
1
5
9
8
9
7
3
7
1
3
1
3.8
3.4
6
2
1
1
3.8
3.4
139. 15
3.4
3.8
40
39
40
41
41
41
2
7
1
7
5
6
3.4
0
0
3.4
3.9
3.3
3.7
3.3
3.6
3.5
3.3
3.3
3.2
41.2
40.5
39.0
42 2
41.2
40.8
41.6
3.1
40.8
36.8
40.0
35.4
139. 90 ' 139. 96 ' 139. 24 138. 83
137. 08
138. 44
138.42
116.8
82 5
118.0
118 4
124. 9
118.3
81. 1
117. 7
120.3
126.8
118.1
82.8
117.4
120.0
126.3
118.1
81.7
119.3 i
119^7
125.8 i
119. 5
120.4
126. 9
118.0
81.4
117. 9
119.8
126.2
220.6
94.2
132 9
114.2
221.1
95. 9
132.3 i
115.9
226.2
96.3
134. 2
115.7
222.1
94.2
135.9
113.6
219.3
95.3 [
135.6
113.3
216.3
94.7
134.6
114.0
211.5
92.1
131.6
112.2
205.7
92.0
132. 9
113.5
196.7
92.3
131.6
113.9
189.6
90.8
131.0
113.3
189.8
91.7
129. 7
113.9
' 185. 8
' 92. 1
' 129. 4
'114.3
' 178. 61
^90.1
' 128. 1
' 111.2
179. 7
89.8
125.2
113.1
1
114. 5
83.6
119. 6
115.2
r 117. 1
' 121. 3 i 119.2
Primary metal industries
Fabricated metal products
Machinery, except electrical
do
do
do
110.2
126.9
133.0
1H. 3
131. 9
137.5
111.0
131.3
136.3
111.5
130.1
136.7
112.9
133.0
137.3
111.9
132.4 !
137.7
112.2
132. 1
137.3
113.7
132. 8
138.1
113.2
132.2
136.3
115.7
132.9
137.3
118.3
132.5
139.0
118.6
131.0
116.4
130.9
136.6
' 115.6 ' 112.8
' 131. 9 ' 130. 9 i
' 138. 8 ' 137. 3
111.1
127. 5
Electrical equipment and supplies
Transportation equipment
..
Instruments and related products
Miscellaneous manufacturing ind
do
do
do
do
143.5
121.7
126. 0
109.7
147.4
119.
5
I0'.-. 4
11M. 4
146.0
119.9
128.5
112.4
144.7
119.4
125.7
106.3
149.3
119. 9
130.2
111.2
150.8
150.6
118.6 | 115.7
131.5
130.6
110.8
112.3
150.6
120. 0
130. 9
111.4
150.4
121.7
130.4
111.8
150.7
131. 2
130. 9
109. 9
150.7
121. 7
129.9
109. 3
150. 2
143.2
128. 5
109.3
137.8 ' 137. 5 ' 137. 8
113. 1 ' 114. 8
128.2 ' 128. 2 ' 126. 7
113. 0
108.0
Nondurable goods
Food and kindred products
Tobacco manufactures
Textile mill products
.
Apparel and other textile products
do
do
do
do
do
110.7
96.2
82.2
106.7
117.5
111 2
97. 3
77.1
105. 0
117.3
111.0
96.9
80.5
106.1
119.0
109.8
97.9
77.0
104.1
114.3 !
111.8
97.8 j
76.8
106.3
117.6
111.7
97.6
75.5
106.2
118.2
111.8
97.4
80.2
105.5
118.8
112.1
96.8
83.1
106.2
119. 1
111.5
96. 2
79.2
106.2
117.8
111.2
110.6
97.5 |
97.3
76.4
79.4
104.3 \ 103. 9
116.9 i 116. 3
110.0
95.0
73.7
103.1
115.9
109. 9
111.1 ' 111.3 '111.5
98.1 ' 98. 8
98.3
75.2
'77.1
'69.7
74.1
101.0
104.3 ' 103. 3
103.9
'
116.
8
'
117.
2
116.2
Paper and allied products
.
Printing and publishing
Chemicals and allied products
Petroleum and coal products . .
Rubber and plastics products, nee
Leather and leather products
do
do
do
do
do
do
117.7
117.0
122.4
83.0
157.2
96.0 1
121. 7
11<> 2
124.
2
7(.<. 5
162. 8
90. 1
122.1
118. 8
124.5
50.4
162.0
94.1
120. 4 1 122. 4
117.0 ! 118.5
124. 5 ! 124. 5 !
82.8
71.0
160.4
163.5
87.2
92.6
121.6
118.3
123. 6
83.6
163.5
92.5
121.6
118.1
124.2
83.8 !
164.2 i
92.3 1
121.7
118.9
125.4
82.9
165. 3
91.5
121.8
119.4
125. 1
84.3
164.9
89.0
121.7
119.3
124.9
83.4
163.3
89.1
121.4
120. 2
123. 1
83.0
161.9
88.2
121.6
120.9
123. 9
83.9
161.1
88.4
• Revised.
Preliminary.
121.7
119. 3
123.0
81.2
162.6
87.1
' 122. 5 ' 123. 4
121. 5 r 121. 1
' 123. 6 124. 0
'83.8
82.2
161. 2 ' 161. 1
89.5
89.5
T
121.8
82.4
85.9
SUKVEY OF CURRENT BUSINESS
March 1970
Unless otherwise stated in footnotes below, data
through 1968 and descriptive notes are as shown
in the 1969 edition of BUSINESS STATISTICS
1968
1969
1969
Jan.
Annual
S-15
Feb.
Mar.
Apr.
May
June
1970
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.?
LABOR FORCE, EMPLOYMENT, AND EARNINGS—Continued
WEEKLY AND HOURLY EARNINGS
Not Seasonally Adjusted
A vg. weekly gross earnings per prod, worker on payrolls of private nonagricultural estab.:
Mining
- . .dollars. .
Contract construction
do
Manufacturing establishments
-do
143. 05
164. 56
122. 51
154. 73
181. 64
129. 51
150. 15
168. 09
126. 05
149. 60
166. 90
124. 80
148. 54
171.86
127. 39
154. 78
174. 46
127. 58
155.30
179.92
128. 61
150. 88
181. 34
129. 65
154.30
183. 91
129. 20
156.88
187. 77
129.51
157. 91
192. 96
132. 84
159. 71
190. 08
131.87
160. 58 '160. 58 '157. 78
184. 02 ••189. 25 '179. 78
132. 36 '134. 89 '131. 93
162. 26
184. 23
130. 54
do _
do
do ..
do
.. do
132. 07
135. 71
104. 34
100. 28
124. 98
130. 59
139. 32
109. 75
105. 85
133. 56
136. 04
135. 74
102. 56
101. 60
125. 36
135. 05
135. 54
104. 40
100. 84
126. 38
137. 45
137. 23
107. 86
103. 42
129. 27
137. 20
138. 11
106. 13
103. 46
131.57
138. 69
138. 85
109. 08
105. 04
134.41
139. 44
140. 76
110.30
106. 90
134. 41
137. 83
136.91
108.78
104. 01
133.24
139. 33
139. 09
111.76
107. 71
136. 75
143. 45
141.69
114.33
109. 08
138.45
142.42
141.05
113.93
108. 81
137. 57
142. 14
144. 49
113.32
108. 81
137. 76
141. 69
146. 32
109. 87
105. 03
133.09
140. 19
145. 96
110.76
104. 22
135. 46
Primary metal industries
Fabricated metal products
.
Machinery, except electrical
Electrical equip and supplies
Transportation equipment
Instruments and related products
Miscellaneous manufacturing ind
do
do_ .
do
do
..do .
do
do
147. 68
131.77
141.46
118. 08
155. 72
120. 69
98.25
158. 42
138. 53
152. 15
124. 84
161. 85
128. 61
103. 35
154. 66
134. 96
147. 55
122. 51
160. 19
124. 74
100. 62
153. 14
133. 01
148. 82
120. 69
157. 03
123. 07
98. 40
155. 82
136. 45
151. 36
123. 42
157. 38
126. 17
102. 05
157. 45
136. 21
150. 80
122. 92
157.44
125. 96
102. 44
157. 13
138. 03
151. 66
124. 34
158. 18
127. 39
102. 96
157. 92
139. 86
151. 66
125. 36
160. 58
129. 15
103. 88
157. 66
136.78
148.39
122. 98
162.66
127.17
101.38
160. 51
138. 86
149. 94
124. 53
159. 17
128. 61
103. 22
162. 93
142.72
155. 00
127.39
167.09
131.84
104. 66
160. 55 159. 39 r 160. 99
141.36 141.44 143. 72
155. 61 154. 87 ' 159. 90
126. 45 ' 126. 36 ' 129. 24
165. 92 165. 17 ' 170. 49
131.70 133. 16 134. 64
105. 32 106. 50 r 108. 74
159. 01
141. 04
' 156. 56
127. 75
160. 80
r
132. 44
' 107. 97
157. 82
138. 98
154. 71
126. 96
157.61
132. 36
108. 14
Nondurable goods
..
- Food and kindred products
Tobacco manufactures
- Textile mill products
Apparel and other textile products
do
do
do
do
. do._
109. 05
114.24
94.12
91.05
79.78
115. 53
120. 36
98. 74
95. 47
82. 93
111.50
117.27
93.03
92. 11
81.40
110. 48
116.40
95.21
90. 57
79. 90
113.15
118.08
94. 70
93. 66
83.13
113.08
117.89
95.94
92.92
81.85
114. 34
119.77
103. 02
94.07
82.67
115.31
120. 25
111.32
95. 63
83. 49
116.22
122.36
104.43
95. 65
82.21
116. 51
121. 30
94.50
97. 99
83.85
118. 00
123.73
98.81
98. 81
84.13
117. 51
120. 88
96.77
98. 57
83.77
118. 21 119. 60 ' 118. 29 117.39
123. 00 r 124. 64 ' 124. 34 123. 51
98. 74 ' 99. 26 ' 106. 76 104. 10
99. 46
99. 95 ' 97. 04 96. 80
84.13 ' 84. 37 ' 83. 07 83. 90
do
do
do
do
do
do
130. 85
133. 28
136. 27
159.38
121.18
85.41
139. 32
141. 33
145. 05
170. 83
126. 18
87.79
135. 14
136. 06
140. 19
152.40
124. 73
87.46
132. 19
136. 10
139. 86
161.38
121.30
83.18
135. 45
139. 03
140. 95
168. 67
123. 30
87.28
135. 99
138. 68
142. 46
174. 10
123. 82
85.78
137. 17
140. 18
143. 72
174. 50
125 25
87.66
138. 46
141.31
144. 63
170. 00
125. 97
88.83
140. 18
141.31
145.53
176.14
126.07
87.52
141. 04
142. 82
145. 53
171. 60
126. 69
87.19
142. 99
144. 75
146.78
172.10
129.90
87.58
142. 33
144. 77
147. 62
173. 36
129. 27
88.80
142. 43 r 143. 86 '141.95
145. 15 148. 59 ' 143. 64
149. 52 r 149. 94 ' 150. 12
175. 50 170. 97 ' 175. 98
128. 64 ' 130. 31 '128.21
90. 51
93. 45
92. 61
do __
do
do
do ...
86.40
122. 31
74.95
101. 75
91.14
129. 85
78. 66
108. 33
88.40
124. 80
76. 16
106. 76
88.60
126. 08
76. 39
107. 59
88.85
126. 40
76. 61
107. 22
88.96
127. 20
76.73
106. 85
89. 92
128.00
77. 63
107. 30
91.55
129. 92
79. 35
108. 70
93. 08
130. 17
80. 96
107.96
93.70
131. 22
81. 19
108. 04
92. 46
132.59
79. 69
108.41
92. 13
132. 59
79. 20
109. 07
92. 58
92.92
133. 87 ' 135. 60
79. 30
79. 79
110. 86 '110.26
3.35
4.40
3.01
2.88
3.19
3.05
3.27
2.57
2.47
2.99
3.59
4.78
3.19
3.05
3.38
3.23
3.44
2.73
2.62
3.18
3.50
4.58
3.12
2.98
3.31
3.16
3.36
2.59
2.54
3.05
3.52
4.56
3.12
3.00
3.31
3.17
3.38
2.61
2.54
3.06
3.52
4.62
3.13
3.00
3.32
3.17
3.38
2.65
2.56
3.10
3.55
4.64
3.15
3.02
3.33
3.19
3.41
2.64
2.58
3.14
3.57
4.71
3.16
3.03
3.35
3.20
3.42
2.68
2.60
3.17
3.55
4.71
3.17
3.03
3.36
3.21
3.45
2.71
2.62
3.17
3.58
4.74
3.19
3.06
3.37
3.23
3.44
2.74
2.62
3.18
3.59
4.79
3.19
3.06
3.39
3.24
3.46
2.78
2.64
3.21
3.63
4.91
3.24
3.09
3.44
3. 27
3.49
2.83
2.68
3.25
3.68
4.95
3.24
3.10
3.44
3. 29
3.50
2.82
2.68
3.26
3.70
4.96
3.26
3.12
3.45
3.31
3.55
2.84
2.70
3.28
3.55
3.16
3.36
2.93
3.69
2.98
2.50
3.79
3.33
3.58
3.09
3.90
3.16
2.65
3.70
3.26
3.48
3.04
3.86
3.08
2.60
3.69
3.26
3.51
3.04
3.83
3.10
2.61
3.71
3.28
3.52
3.04
3.82
3.10
2.61
3.74
3.29
3.54
3.05
3.84
3.11
2.62
3.75
3.31
3.56
3.07
3.83
3.13
2.64
3.76
3.33
3.56
3.08
3.86
3.15
2.65
3.79
3.32
3.55
3.09
3.91
3.14
2.64
3.84
3.33
3.57
3.09
3.93
3.16
2.64
3.87
3.39
3.63
3.13
3.95
3.20
2.67
3.85
3.39
3.67
3.13
3.96
3.22
2.68
2.74
2.63
2.80
2.49
2.21
2.21
3.05
3.48
3.26
3.75
2.92
2 23
2.40
3.05
2.16
2.75
2.91
2.79
2.95
2.64
2.34
2.31
3.24
3. 69
3.47
4.01
3.07
2.36
2.56
3.23
2.30
2.92
2.83
2 72
2. 91
2.57
2.28
2.28
3.15
3.59
3.37
3.69
3.02
2.32
2.49
3.12
2.24
2.87
2.84
2.73
2.91
2.63
2.27
2.27
3.14
3.61
3.37
3.87
3.01
2.33
2.51
3.16
2.26
2.90
2.85
2.74
2.93
2.66
2.29
2.29
3.15
3.63
3.38
3.95
3.00
2.34
2.51
3.16
2.26 !
2.89
2.87
2.76
2.94
2.68
2.30
2.28
3.17
3.64
3.40
4.03
3.02
2.35
2.52
3.18
2.27
2.88
2.88
2! 95
2.74
2.30
2.29
3.19
3.66
3.43
4.03
3.04
2.35
2.54
3.20
2.29
2.90
2.89
2.77
2.94
2.79
2.31
2.30
3.22
3.68
3.46
4.00
3.05
2.35
2.55
3.24
2.30
2.93
2 92
2. 80
2.97
2.77
2.35
2.29
3.26
3.68
3.49
4.04
3.09
2.34
2.55
3.23
2.30
2.91
2.92
2.79
2.93
2.52
2.39
2.31
3.28
3.70
3.49
4.00
3.09
2.35
2.56
3.24
2.30
2.92
2.95
2.82
2.96
2.54
2.41
2.35
3.31
3.75
3.52
4.04
3.13
2.38
2.59
3.29
2.33
2.93
4.201
5.956
1.44
1
3. 466
4.629
6.514
1.58
4.379
6.202
1.57
3.581
4.422
6.224
4.422
6.228
4. 495
6.314
4.657
6.502
4.751
6.738
3.599
3.628
3.651
4.718
6.627
1.58
3.725
4.748
6.672
3.641
4.435
6.261
1 59
3. 692
Durable goods
Ordnance and accessories
Lumber and wood products
Furniture and fixtures
Stone clay and glass products
Paper and allied products
Printing and publishing
Chemicals and allied products
Petroleum and coal products
Rubber and plastics products, nee
Leather and leather products
Wholesale and retail trade
Wholesale trade
Retail trade
Finance, insurance, and real estate.-
Average hourly gross earnings per production
worker on payrolls of nonagricultural estab.:
Mining
dollars
Contract construction
.
- do
Manufacturing
do
Excluding overtime
do
Durable goods
- -do
Excluding overtime
do
Ordnance and accessories
do
Lumber and wood products
..
do
Furniture and fixtures
do
Stone, clay, and glass products. _
do
Primary metal industries
do
Fabricated metal products _ _
do
Machinery, except electrical. .. . do
Electrical equip, and supplies
do
Transportation equipment.
do
Instruments and related products . . .do
Miscellaneous manufacturing ind
do
Nondurable goods
...
Excluding overtime
Food and kindred products
Tobacco manufactures
Textile mill products...
Apparel and other textile products
Paper and allied products.
Printing and publishing
Chemicals and allied products
Petroleum and coal products.
Rubber and plastics products, nee
Leather and leather products .
Wholesale and retail trade
Wholesale trade...
..
Retail trade
__
Finance, insurance, and real estate..
do
do
do
do
do
do
do
do
do ...
do
do
do
do
do
do
do_. .
Miscellaneous hourly wages:
Construction wages, 20 cities (ENR) : &
Common labor
$ perhr
Skilled labor
do
Farm, without board or rm., 1st of mo
do..
Railroad wages (average, class I)
do
' 145. 53
' 145. 14
'113.36
110. 16
'137. 76
141.37
143. 26
150. 18
171. 75
128. 52
91. 64
' 93. 37 94.07
' 135. 47 136. 28
' 79. 73 80. 16
'111.37 112.41
3.29
3.15
3.49
3.34
'3.54
' 2.82
2.70
3.28
'3.73
'5.05
3.29
'3.16
' 3. 49
3.35
'3.56
' 2.81
2.70
3.27
3.80
5.02
3.28
3.16
3.47
3.34
3.56
2.79
2.70
3.28
3.85
3.40
3.67
3.12
3.98
3.24
2.71
3.87
3.43
'3.71
'3.16
'4.04
3.26
2.76
'3.85
3.44
'3.71
'3.17
'4.01
'3.27
' 2. 79
3.84
3.44
3.71
3.19
3.97
3.26
2.78
2.96
2.83
2.97
2.52
2.41
2.34
3.31
3.77
3.54
4.06
3.13
2.40
2.61
3.29
2.35
2.94
2.97
2.85
3.00
2.64
2 42
2.' 35
3.32
3.78
3.56
4.11
3.13
2.42
2.63
3.33
2.36
2.98
2. 99
2.87
'3.04
2.69
2.42
2.35
3.33
3.81
3.57
4.10
'3.14
2.44
2.61
3.34
2.34
'2.98
3.01
' 2. 89
'3.07
'2.87
2.42
2.36
3.34
'3.80
'3.60
'4.21
'3.15
2.45
'2.66
'3.37
'2.38
3.01
3.01
2.90
3.08
2.86
2. 42
2! 37
3.35
3.81
3.61
4.22
3.15
2.47
2.68
3.39
2.40
3.03
4.823
6.767
1.51
4.848
6.802
4.853
6. 831
4.891
6.903
1.67
4. 913
« 6. 912
57, 102
47, 065
37.2
37.5
3.15
117. 18
3.70
r 5. 02
I
3.760
PRIVATE NONFARM SECTOR
Not Seasonally Adjusted
Employees on payrolls exc. gov't. & farm. _ .thous. - 56, 015
57, 914 56, 056 56, 159
Production or nonsupervisory workers . . do
46, 434
47. 986 46, 359 46, 426
Hrs. (gross), av. weekly: Unadjusted
hours. .
37.5 1 37.2
37.8
37.7
Seasonally adj. .do
37.5
37.8
Hourly earnings (gross), average
1 dollars. .
2.85
2.96
2.94
3.04
Weekly earnings (gross), average- _ ... do _ _ 107. 73
114. 61 110.25 | 110. 11
Spendable earnings per worker (with 3 dependents), total private. .current dollars. . 95.28
96.57
99. 99
96.68
78.61
77.50
1957-59 dollars ..
77. 90
78.30
Manufacturing
current dollars
107.
82
106. 75
108.
78
111.44
88.08
87.66
86.53
1957-59 dollars ..
87.27
'c Revised.
v Preliminary.
i Includes adjustnlents not distribute dby mo nths.
Corrected.
56, 615 57, 188
46, 824 47, 344
37.6
37.5
37.8
37.8
2.97 i
2.98
111.67 111.75
97. 76
77.83
109. 81
87.43
97.82
77. 39
109. 95
86. 99
;
57, 623 58, 632
47, 732 48, 648
37.7 i
38.0
37.8
37.8
3.01
3.03
113.48 115. 14
58, 525 58, 877
48, 504 48, 828
38.1 ! 38.2
37.8
37.8
3.05
3.04
115.82 116. 51
58, 734
48, 718
38.0
37.8
3.10
117.80
58, 789 58,729 '59,038 ' 57, 268
48, 764 ' 48,695 '48,993 '47,242
'37.1
37.7
37.5
37.7
'37.4
37.6
37.6
37.5
3.12
'3.11 '3.13
3.11
117. 25 117.00 '117.25 '116.12
99.13
78.18
110. 74
87.33
100. 92
78.72
111.20
86.74
101.45
78.83
111.44
86. 59
102. 44
79. 23
114. 01
88.17
102. 01
78. 59
113.25
87.25
100. 40
78.68
111.54
87.41
101. 82 ' 102. 01 ' 101. 97 102. 82
78.02 ' 77. 69 ' 77. 37 77.60
113. 63 '115.61 '114.48 113. 38
87.07 ' 88. 05 ' 86. 86 85.57
cfW ages as o f Mar. 1, 1970: Co mm on, $ 4.927; ski lied, $6.9 21.
SURVEY OF CTJRKENT BUSINESS
S-16
Unless otherwise stated in footnotes below, data
in the 1969 edition of BUSINESS STATISTIC S
1968
1969
1969
Annual
March 1970
Jan.
Mar.
Feb.
Apr.
May
June
1970
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
i
Feb.
LABOR FORCE, EMPLOYMENT, AND EARNINGS—Continued
HELP-WANTED ADVERTISING
Seasonally adjusted index I
1957-59 = 100_.
LABOR TURNOVER
Manufacturing establishments:
Unadjusted for seasonal variation:
Accession rate, total
mod. rate per 100 employees. _
New hires
do
Separation rate, total
-do_ __
Quit
do
Seasonally adjusted:
Accession rate total
New hires
Separation rate total
Quit
Layoff
206
227
224
230
231
233
232
228
227
224
235
227
222
217
203
4.6
3.5
4.6
2.5
1.2
4.7
3.7
4.9
2 7
1.2
4.6
3.3
4.5
2.3
1.2
3.9
3.0
4.0
2 1
10
4.4
3.4
4.4
2 4
1.0
4.5
3.5
4.5
2.6
.9
4.8
3.8
4.6
2.7
.9
6.6
5.4
4.5
2 6
.9
5.1
3.9
5.3
2.6
1.6
5.6
4.3
6.2
4 0
1.1
5.9
4.8
6.6
4.4
1.1
4.9
4.0
5.3
2 9
13
3.6
2.8
4.3
21
13
2.9
2.1
4.1
16
18
P4.0
p 2. 9
p4. 7
P21
p16
4.9
3.8
4.6
2.7
1.1
4.6
3.7
4.8
2.7
1.1
4.6
4.0
4.9
2.7
1.2
4.9
3.9
4.9
2.7
1.0
4.8
3.7
5.0
2.8
1.1
5.0
38
4.9
2.7
1.1
4.8
3.7
4.9
2.7
1.2
4.5
3.5
5.1
2.9
1.1
4.8
3.8
4.8
2.5
1.2
4.7
3. 6
5.0
2.7
1.3
44
3.4
4.8
2.6
1.2
4 6
3.5
4.6
2.5
»• 1.4
p4 3
p3.3
p 4. 8
p 2. 5
p 1.4
5,600
2,530
320
182
330
137
420
112
570
253
660
219
560
181
500
220
500
160
490
157
510
317
310
132
175
33
P260
P 55
44, 500
480
255
3.380
500
266
2,590
600
261
2,080
770
303
2,740
870
329
3,530
800
302
3,370
760
307
3,420
770
280
2,890
740
215
1,830
750
372
2,850
550
323
4 050
do
do
do
do
__do__ _
INDUSTRIAL DISPUTES
Strikes and lockouts:
Beginning in period:
5,045
Work stoppages
number
2,649
Workers involved
thous
In effect during month:
Work stoppages
number
Workers involved
thous
49, 018
Man-days idle during period
do
EMPLOYMENT SERVICE AND UNEMPLOYMENT INSURANCE
5,733
Nonfarm placements
thous
Unemployment insurance programs:
1,187
Insured unemployment all programs
do
State programs:
10,
463
Initial claims
- do.. _
1,111
Insured unemployment, weekly avg
do
Percent of covered employment:^
2.2
Unadjusted
Seasonally adjusted
936
Beneficiaries, weekly average
thous__
2,031.9
Benefits paid
mil. $
Federal employees, insured unemployment,
23
weekly average.
thous _
Veterans' program (UCX):
289
Initial claims
do
32
Insured unemployment, weekly avg _ _ d o
29
Beneficiaries weekly average
do
69.2
Benefits paid
mil. $
Railroad program:
139
Applications
thous
20
Insured unemployment, weekly avg do
40.4
Benefits paid
mil. $
r
p203
p420
385
p233
208
3 990 p 3, 730
5,153
392
373
397
454
437
512
469
471
503
463
372
311
326
1,177
1,584
1,550
1,384
1,162
970
911
1,088
1,015
902
929
1,105
1,464
1,957
10, 385
1,101
1,240
1,491
890
1,459
709
1,300
756
1,090
613
906
710
852
1,105
1,021
731
948
655
840
745
864
866
1,030
1,363
1,375
1,548
1,847
2.1
923
2, 127. 9
3.0
2.1
1,206
246.1
2.9
2.1
1,290
234.2
2.6
2.1
1,190
226.5
2.2
2.0
1,022
200.1
1.8
2.0
800
153.0
1.7
21
744
135.0
2.0
2.2
788
159.2
1.8
2.2
832
156.7
1.6
2.2
706
136.2
1.6
2.2
686
139.5
2.0
2 3
763
136.6
2.7
2 3
1,020
214.3
3.6
2 5
1,459
299.4
20
24
24
23
20
17
18
19
18
17
18
22
24
28
20
29
28
5.8
26
30
27
5.5
32
36
31
6.9
27
37
35
7.2
26
32
30
6.5
29
32
28
6.3
30
38
32
6.2
39
48
42
9.5
44
61
55
12.0
11
17
2.8
11
11
2.0
17
13
2.1
7
13
2.4
6
13
2.5
10
15
2.9
5
14
2.5
5
17
3.2
9
20
4.1
4,668
25, 305
9,931
15,374
4,880
26, 004
10, 159
15, 845
4,991
28, 346
10, 352
17, 994
5,145
29, 476
11, 350
18 126
5,232
29, 564
11,871
17 693
5,256
31, 791
12, 067
19, 724
5,212
33, 497
12, 524
20, 973
5,451
31, 624
11,817
19 807
5
34
12
22
12, 514
12, 941 112 854 U2, 841
12, 996 1 12, 819 i 12, 803
13 204
13 388
13, 597
6,700
1,680
i 4, 439
6 714
1,732
4 758
6 738
1,804
4 846
6, 777
1,844
4,975
333
37
34
87.0
32
44
41
9.0
27
43
42
8.0
24
40
39
7.8
22
35
35
7.4
100
17
37.0
12
24
4.8
6
23
4.3
5
4.1
5
18
3.4
FINANCE
BANKING
Open market paper outstanding, end of period:
Bankers' acceptances
mil. $
Commercial and finance co. paper, total
do
Placed through dealers
do
Placed directly (finance paper)
do
Agricultural loans and discounts outstanding of
agencies supervised by the Farm Credit Adm.:
Total, end of period
mil. $
Farm mortgage loans:
Federal land banks
do
Loans to cooperatives
. _ _ _ do._.
Other loans and discounts
do
4,428
20, 497
7,201
13, 296
5 451
31 624
11,817
19 807
4 370
21,813
7,873
13 940
11, 748
13 204
11,907 111,946
6,126
1,577
4,044
6,714
1,732
4,758
Bank debits to demand deposit accounts, except
interbank and U.S. Government accounts,
annual rates, seasonally adjusted:
Total (233 S MSA's) O. -.
bil. $_.
New York SMS A
do
Total 232 SMSA's (except N.Y.)
6 other leading S MSA's 1
226 other SMSA's
Reserve bank credit outstanding, total 9 ..do
Discounts and advances
do
U.S. Government securities. . .
.do
Gold certificate account
Liabilities, total 9
Deposits, total
Member-bank reserve balances
Federal Reserve notes in circulation
r
6,226
1,680
1
4, 040
4,464
23, 681
9,003
14 678
12, 324 112 344
6,317
1,663
4 344
6 412
1,648
14 284
1
6,484
1,614
1
4,416
6,557
1,594
4,790
6,605
1,594
i 4 655
6, 645
1,573
i 4, 624
6,676
1,585
4,736
6,704
1,705
14,394
288
264
038
226
4, 837. 5 4, 903. 2 4 840.9 4, 981. 8 5, 050. 0 5, 229. 6 5, 334. 2 5, 281. 7 5, 425. 8 5, 399. 3 5, 277. 0 ^5,362.2 5, 482. 7
2 007.9 2 047. 2 1 974 3 2 028 9 2 083.2 2 164 4 2 244 4 2 242.8 2, 249. 6 2, 254. 7 2, 224. 8 r2 212.9 2 277.4
2 829.6 2, 856. 1 2 866 6 2 952. 9 2 966.8 3 065. 2 3 089 8 3 038.9 3,176.3 3, 144. 7 3, 052. 2 3,149.3 3, 205. 3
78, 972
84, 050
77, 635
77, 849
78 772
82 213
80 753
80 516
79, 473
80, 281
80, 285
81,919
84, 315
84, 050
83,116
83, 271
56, 614
188
52, 937
60, 841
183
57, 154
55, 892
862
52, 127
55, 857
744
52, 275
55,419
1 148
52 405
58, 108
2 532
53 113
56, 891
1 832
53 759
56, 601
1 049
54 095
57, 454
750
54, 138
58, 626
1 514
54,911
56, 948
-928
54, 134
59, 592
1,690
55, 515
61, 603
1 531
57, 318
60, 841
183
57, 154
61, 843
1,566
55, 709
59, 591
1,147
55, 823
do
10, 026
10, 036
10, 025
10, 025
10 025
10 023
10 022
10 027
10 027
10 027
10, 036
10, 036
10 036
10, 036
11,036
11,045
do. .
78, 972
84, 050
77, 635
77, 849
78 772
82, 213
80 753
80 516
79, 473
80, 281
80, 285
81,919
84,315
84, 050
83, 116
83, 271
do
. do
23, 473
21, 807
24, 338
22, 085
24, 295
23, 124
23, 909
22, 801
23, 289
21, 588
25, 882
24 344
25, 405
23 705
22, 714
20 750
23,331
21,772
24, 271
22, 789
23,317
21, 656
25, 150
23, 613
24, 948
23, 385
24, 338
22, 085
25, 591
23, 620
25, 336
23, 332
do
45, 510
48, 244
44, 170
43, 992
44, 232
44, 196
44,811
45, 299
45, 566
45,885
45, 818
46, 128
47, 191
48, 244
46,831
46, 689
Revised.
p Preliminary.
i Data for indicated month exclude loans by Federal
Intermediate Credit Banks outside the Farm Credit Adm. system.
t Revised (back to
1960) to incorporate new seasonal factors; see note "t", P- S-is, Oct. 1969 SURVEY for data
through May 1968 (revisions for June and July 1968, 197 and 204).
4 510
24 390
10, 076
14 314
8, 734. 2 8, 833. 1 8, 723. 7 8, 883. 8 9, 147. 6 9, 385. 2 9, 242. 8 9, 430. 1 9, 737. 3 9,527.0 9, 484. 5 '9,560.4 9, 536. 7
3 896. 7 3 929.8 3 882 8 3 902 0 4 097.6 4 155 7 3 908 6 4 148.4 4,311.5 4, 127. 6 4, 207. 5 4 198 2 4 054 0
do. .
do
do
Federal Reserve banks, condition, end of period:
Assets, total 9
mil. $
6,169
1,630
4,108
4,420
22, 865
8,342
14 523
d*Insured unemployment as % of average covered employment in a 12-month period.
OTotal S M S A ' s include some cities and counties not designated as SMSA's.
^Includes Boston, Philadelphia, Chicago, Detroit, San Francisco-Oakland and Los
Angeles-Long Beach.
9 Includes data not shown separately.
SURVEY OF CURRENT BUSINESS
March 1970
Unless otherwise stated in footnotes below, data
through 1968 and descriptive notes are as shown
in the 1969 edition of BUSINESS STATISTICS
1968
1969
End of year
S-17
1969
Jan.
Feb.
Mar.
Apr.
May
June
1970
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
FINANCE—Continued
BANKING— Continued
All member banks of Federal Reserve System,
averages of daily figures:
Reserves held, total
mil. $__ i 27, 221 128,031
i 26, 766 i 27, 774
Required
do
1257
1455
Excess . _
do
1765
11,086
Borrowings from Federal Reserve banks. ..do
i -829
1-310
Free reserves
do
Large commercial banks reporting to Federal Reserve System, Wed. nearest end of yr. or mo.:
Deposits:
Demand, adjustedcf
mil. $.. ' 88, 883 290,282
Demand total 9
Individuals, partnerships, and corp
State and local governments
IT S Government
Domestic commercial banks
do _
do
do
do
do
Time, total 9
Individuals, partnerships, and corp.:
Savings
Other time
do
144,252 150,945
102,795 105,613
' 7, 671 27,942
3,437 22,989
'19,058 2 20, 850
112,167 2 96, 589
28,063
27,846
217
697
-480
27,291
27,063
228
824
-596
26, 754
26, 537
217
918
-701
27,079 27, 903 27,317
26,927 27,603 26,974
152
300
343
1,402
1,407
996
-844 -1,102 -1,064
26,980
26,864
116
1,190
-1,074
27, 079
26, 776
303
1,249
-946
26,971
26, 735
236
1,067
-831
27,340
27,197
143
1,135
-992
27,764 '28,031
27,511 27, 774
'257
253
1,241 '1,086
-988 '-829
28,838
28,692
146
964
-818
27,944
27,712
232
1,091
-859
81, 120
79,826
81, 891
79,374
77,040 278,248
78, 135
79,444
80,553
79,650
79.349 '90,282
81,669
78, 321
127,001 124, 747 128, 683 134, 765 127,254 2135,809 127, 152 129, 567 135,020 131,707 135,748 '150,945 131, 899 131,913
90, 113 89, 131 93,164 92,700 89,414 293,690 90,094 91, 903 92,614 90,848 93, 115 '105,613 92, 212 90,336
6,270 2 6, 628
6,272
6,257
6,953
6,318
6,233
5,787
6,363
6,371
6,323
7,005
6,452 '7,942
4,112 2 3, 618
3,879
3,382
3,882
2,003
4,474
5,434
4,753
5,473
1,228
6, 946
3,908 ' 2, 989
14,595 14, 915 16, 259 16, 315 16,239 2 18, 999 16, 125 18, 182 17,613 17, 070 18,969 '20,850 16,288 16,995
110,031 109, 211 108, 387 106, 949 106, 188 2103,111 100, 602
98,581
97,977
97, 169
96,168 ' 96,589
95, 017
95, 622
47,737
42,908
46,653
38, 590
46, 712
38,026
46,376
37, 325
46,317 ' 46,486
36,548 ' 36,534
45, 822
35,632
45,633
35,650
47, 691 ? 47, 512
42, 511 240,916
46,953
39, 740
do
do ._
' 49, 151
'45,078
2 46, 486
2 36, 534
Loans (adjusted) , totalcf
Commercial and industrial
For purchasing or carrying securities
To nonbank financial institutions
Real estate loans
Other loans
- - --
do
do
do
do
do
do
161,827
' 74, 153
'9,563
'11,872
' 32, 106
' 40, 622
175,729 156, 682 157, 587 159, 640 162, 397 161, 977
2 81, 548 72,896 73, 727 75, 269 76,659 76,636
7,233
7,025
2 7, 829
7,234
6,927
7,390
2 13, 128 10, 401 10, 535 10,709 11,349 10,806
233,484 32,220 32, 472 32, 627 32, 877 33, 022
2 44, 182 42, 745 42, 727 42, 949 42,065 42,910
Investments, total
U.S. Government securities, total
Notes and bonds
Other securities
do _
do
do
do
'68,323
' 29, 349
' 24, 029
' 38, 974
2 59, 587
223,856
2 19, 792
2 35, 731
65, 861
27, 656
23,649
38,205
63,193
25, 146
22,851
38,047
64,066
26, 073
22, 552
37, 993
63,169
24,791
22,500
38, 378
Commercial bank credit (last Wed. of mo. , except
for June 30 and Dec. 31 call dates) , seas, adj . :
Total loans and investments©
_ _ _ bil. $
Loans O
do
U S Government securities
do
Other securities.. ._ _ _
.
do ._
384.6
251.6
61.5
71.5
2 398. 6
2 276. 2
251.8
270.5
385.9
253.7
60.8
71.4
387.9
258.4
58.1
71.5
386.6
257.3
57.4
71.9
390.7
261.0
57.7
72.1
Money and interest rates: §
Bank rates on short-term business loans:
In 35 centers
percent per annum
New York City
do
7 other northeast centers
do
36.68
36.45
37.01
38.21
38.02
38.53
7.32
7.13
7.59
7 86
7.66
8 18
8.82
8.65
9 14
8.83
8.66
9 21
36.72
36.50
36.66
36.64
38.24
37.93
38.19
38.18
7.41
7.01
7.25
7.35
7.89
7.66
7.87
7.83
8.85
8.46
8.85
8.75
8.83
8 58
8.79
8.81
Discount rate (N.Y.F.R. Bank), end of year or
month
percent-Federal intermediate credit bank loans
do
5.50
36.41
6.00
37.23
5.50
6.54
5.50
6.64
5.50
6.70
6.00
6.72
6.00
6.84
6.00
7.02
6.00
7.26
6.00
7.51
6.00
7.69
6.00
7.81
Home mortgage rates (conventional 1st mortgages):
New home purchase (U.S. avg.)
percent..
Existing home purchase (U.S. avg.)
.do
36.83
36.90
37.66
37.68
7.16
7.18
7.26
7.28
7.32
7.35
7.47
7.46
7.50
7.54
7.62
7.64
7.76
7.79
7.86
7.90
7.89
7.92
4
4
5. 75
5. 90
45.69
46.33
47.61
47.83
47.16
47.96
6.46
6.53
6.14
6.97
6.47
6.62
6.33
7.00
6.66
6.82
6.38
7.26
6.86
7.04
6.38
7.50
7.38
7.35
6.54
7.50
7.99
8.23
7.25
8.31
8.39
8.65
7.89
8. 50
8.04
8.33
7.71
8.50
4 5. 339
45.59
4 6. 677
46.85
6.177
6.04
6.156
6.16
6.080
6.33
6.150
6.15
6.077
6.33
6.493
6.64
7.004
7.02
7.007
7.08
8 north central centers
7 southeast centers
8 southwest centers..
4 west coast centers
do
do
_._ .. do .
do
Open market rates, New York City:
Bankers' acceptances (prime, 90 days)
do
Commercial paper (prime, 4-6 months)__do___~
Finance Co. paper placed directly, 3-6 nio.do
Stock Exchange call loans, going rate
do
Yield on U.S. Government securities (taxable):
3-month bills (rate on new issue)
percent _
3-5 year Issues
do
48, 340
44,416
48, 335
44,201
48, 650
43, 419
2170,468 168,004 166,481 168,844 167,511 168,730 '175 729 167, 642 167, 567
278,590 77,607 76,669 78,417 77,649 78,347 ' 81,548 78, 123 78, 215
5,993
6,586
6,264
27,563
7,269
6,727
6.517 '7,829
6,247
2 11. 927 10,967 11, 138 11, 376 10,819 11,000 ' 13,128 11, 205 11,066
233,252 33,303 33,534 33, 678 33,950 34, 056 ' 33,484 33,537 33,489
244,917 44,658 44, 418 45, 119 44,599 44,431 ' 44 182 45, 756 44,908
260,168
222,820
221,382
237,348
60,081
23,468
21, 138
36, 613
59, 426
23, 336
21, 118
36, 090
58,067
22,191
20,558
35, 876
58,618
23,350
20,104
35,268
59, 289
23,670
20, 047
35, 619
' 59,587
' 23,856
' 19,792
' 35,731
57,632
22,437
19,544
35, 195
57,046
21, 530
19,380
35, 516
392.2 2 397. 3
264.1 2 269. 2
56.1
256.3
72.0
271.8
397.7
269.9
56.8
71.0
397.5
270.3
56.9
70.3
396.5
271.3
54.7
70.5
396.8
273.3
53.4
70.1
399.7
275.5
53.2
71.0
398.6
276.2
51.8
70.5
396.1
275.3
49.9
70.9
397.2
277.1
49.4
70.8
6.00
7.93
6.00
8.15
6.00
8.46
6.00
8.69
7.98
7.98
7.97
8.00
8.07
'8.08
8.17
8.13
8.23
8.23
8.14
8.48
7.61
8.50
8.17
8.56
7.86
8.50
8.18
8.46
7.92
8.50
8.58
8.84
7.93
8.50
8.64
8.78
8.14
8.50
8.30
8.55
8.01
8.50
7.129
7.58
7.040
7.47
7.193
7.57
7.720
7.98
7.914
8.14
7.164
7.80
60, 758
23, 077
21,803
37,681
CONSUMER CREDIT
(Short- and Intermediate-term)
Total outstanding, end of year or month
Installment credit , total
mil. $.. 113, 191
122, 469 112, 117 111, 569 111,950 113,231 114, 750 115, 995 116, 597 117, 380 118,008 118, 515 119, 378 122,469 121,074
do
89, 890
98, 169
89,492
89,380
89,672
90, 663
91,813
93,087
93,833
94,732
95,356
95,850
96, 478
98, 169
97,402
Automobile paper
Other consumer goods paper
Repair and modernization loans
Personal loans
._
do
do
do
do
34, 130
24, 899
3,925
26, 936
36,602
27,609
4,040
29,918
34, 013
24,682
3,886
26, 911
34, 053
24,404
3,875
27,048
34, 262
24,306
3,874
27,230
34, 733
24, 399
3,903
27.628
35, 230
24,636
3,964
27, 983
35,804
24,956
4,022
28, 305
36, 081
25,172
4,039
28,541
36,245
25, 467
4,063
28,957
36, 321
25, 732
4,096
29,207
36, 599
25, 855
4,084
29,312
36,650
26, 223
4,076
29,529
36,602
27,609
4,040
29, 918
36,291
27,346
3,991
29,774
By type of holder:
Financial institutions, total.
Commercial banks
Sales finance companies
do
do
do
77,457
36, 952
18,219
84,982
40,305
19, 798
77, 360
37,005
18,175
77,577
37, 056
18,219
78,006
37,257
18,253
79,062
37, 854
18,418
80, 155
38,347
18,636
81,388
38,916
18, 961
82, 130
39,248
19,127
82,910
39,532
19, 265
83,440
39, 793
19, 360
83,949
40,006
19,569
84, 301
40,047
19,668
84,982
40,305
19,798
84,531
40,144
19, 703
do
do
do
10, 178
8,913
3,195
11,594
9,740
3,545
10, 101
8,879
3,200
10,153
8,896
3,253
10,294
8,927
3,275
10,508
9,008
3,274
10,699
9,080
3,393
10,939
9,146
3,426
11,054
9,293
3,408
11, 220
9,436
3,457
11,347
9,450
3,490
11,438
9,436
3,500
11, 491
9,532
3,563
11, 594
9,740
3,545
11,468
9,683
3,533
Retail out lets, total
..
do
13, 187 12, 132 11,803 11,666
12, 433
Automobile dealers
do
320
336
319
319
320
'Revised.
i Average for Dec.
2 Beginning June 1969, data are revised to include all bank premises
subsidiaries, and other significant majority-owned domestic subsidiaries; also, loans and
investments are now reported gross. For complete details see the Aug. 1969 Federal Reserve
Bulletin.
3 Average for year.
4 Daily average.
cfFor demand deposits, the term "adjusted" denotes demand deposits other than domestic
11, 601
325
11,658
329
11,699
333
11, 703
335
11, 822
336
11, 916
33fi
11,901
338
12, 177
337
13, 187
336
12, 871
333
Credit unions
Consumer finance companies
Other
377-332 0 - 7 0 - 6
commercial interbank and U.S. Government, less cash items in process of collection; for
loans, exclusive of loans to domestic commercial banks and after deduction of valuation
reserves (individual loan items are shown gross; i.e., before deduction of valuation reserves).
9Includes data not shown separately.
©Adjusted to exclude interbank loans and beginning June 1969, data are reported gross.
§For bond yields, see p. S-20.
SURVEY OF CURRENT BUSINESS
S-18
Unless otherwise stated in footnotes below, data
through 1968 and descriptive notes are as shown
in the 1969 edition of BUSINESS STATISTICS
1968
1969
Annual
March 1970
1969
Jan.
-Feb.
Mar.
Apr.
May
1970
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
FINANCE—Continued
CONSUMER CREDIT— Continued
Outstanding credit—continued
Noninstallment credit, total
_
Single-payment loans, total
Commercial banks
Otherfinancialinstitutions .
mil $_.
do
do
do
23, 301
9,138
7,975
1,163
24, 300
9,096
7,900
1,196
22, 625
9,038
7,878
1,160
22, 189
9,050
7,877
1,173
22, 278
9,139
7,961
1,178
22, 568
9,216
8,040
1,176
22. 937
9,218
8,017
1,201
22, 908
9,227
8,031
1,196
22,764
9,120
7,946
1,174
22,648
9,073
7,879
1,194
22, 652
9,075
7,882
1,193
22, 665
9,025
7,837
1,188
22,900
9,000
7,795
1,205
24,300
9,096
7,900
1,196
23,672
9,092
7,887
1,205
do
do
do _
do _
7,755
6,450
1,305
6,408
8,234
6,650
1,584
6,970
7,097
5,763
1,334
6,490
6,403
5,087
1,316
6,736
6,340
5,037
1,303
6,799
6,557
5,237
1,320
6,795
6,971
5,609
1,362
6,748
7,002
5,574
1,428
6,679
7,039
5,541
1,498
6,605
6,988
5,438
1,550
6,587
7,005
5,448
1,557
6,572
7,085
5,568
1,517
6,555
7,238
5,685
1,553
6,662
8,234
6,650
1,584
6,970
7,539
5,932
1,607
7,041
do
do
.do _
do
97, 053
31, 424
30, 593
35, 036
102, 888
32, 354
33, 079
37, 455
7,557
2,369
2,449
c
2, 739
6,971
2,344
1,985
2,642
8,132
2,750
2,423
2,959
9,024
3,023
2,668
3,333
8,960
2,985
2,760
3,215
9,169
3,045
2,832
3,292
8,920
2,828
2,778
3,314
8,604
2,593
2,764
3,247
8,485
2,566
2,794
3,125
8,797
2,939
2,805
3,053
8,173
2,433
2,817
2,923
10, 096
2,479
4,004
3,613
7,490
2,130
2,663
2,697
-do
do
do
do
88,089
28, 018
28, 089
31, 982
94, 609
29, 882
30, 369
34, 358
7,955
2,486
2,666
2,803
7,083
2,304
2,263
2,516
7,840
2,541
2,521
2,778
8,033
2, 552
2,575
2,906
7,810
2,488
2,523
2,799
7,895
2,471
2,512
2,912
8,174
2,551
2,562
3,061
7,705
2,429
2,469
2,807
7,861
2,490
2,529
2,842
8,303
2,661
2,682
2,960
7,545
2,382
2,449
2,714
8,405
2,527
2,618
3,260
8,257
2,441
2,926
2,890
-do _.
do
do
do .
8,371
2,661
2,654
3,056
8,414
2,716
2,598
3,100
8,381
2,730
2,625
3,026
8,720
2,772
2,763
3,185
8,680
2,757
2,767
3,156
8,705
2,725
2,869
3,111
8,521
2,582
2,777
3,162
8,680
2,634
2,819
3,227
8,669
2,794
2,740
3,135
8,661
2,808
2,707
3,146
8,632
2,683
2,841
3,108
8,344
2,472
2,838
3,034
8,521
2,479
2,925
3,117
do
_ _do_ __
_do__ .
do
7,730
2,467
2,442
2,821
7,616
2,468
2,352
2,796
7,735
2,501
2,461
2,773
7,960
2,519
2,569
2,872
7,834
2,488
2,507
2,839
7,910
2,460
2,602
2,848
7,899
2,471
2,511
2,917
8,080
2,562
2,574
2,944
7,971
2,498
2,600
2,873
7,992
2,463
2,615
2,914
8,012
2,503
2,623
2,886
7,929
2,499
2,552
2,878
8,141
2,469
2,722
2,950
20,406 11, 832 14, 332
17, 167 17,602 15, 225
3,239 -5, 769 -894
16,704
15, 232
1,472
16, 303
16, 564
-261
C harpe accounts, total
Retail outlets
Credit cards
Service credit
Installment credit extended and repaid:
Unadjusted :
Extended total
Automobile paper
Other consumer goods paper
.
All other
..
Repaid, total
__
Automobile paper
Other consumer goods paper
All other
Seasonally adjusted:
Extended total
Automobile paper
_ .
Other consumer goods paper
All other
Repaid total
Automobile paper
Other consumer goods paper
All other
_
_
FEDERAL GOVERNMENT FINANCE
Budget receipts, expenditures, and net lending: J
Expenditure account:
Receipts (net)
mil. $ 12153,671 1 2 187,792 15, 845
Expenditure (excl. net lending)
do
i 2 172,802 1 2 183,080 15, 798
Expend, acct. surplus or deficit (— )
do
12-19,131 i 2 4, 712
47
Loan account:
1 2-6, 030 12-1,476
Net lending
do
37
Budget surplus or deficit ( — )
Budget financing, totalj
Borrowing from the public
Reduction in cash balances _ _
14, 590 13, 727
14, 361 15,637
230 -1,910
-2
23, 596 13,346
15, 922 15, 279
7,674 -1, 932
-50
23, 805 12,542 14, 999
13, 895 15,542 16, 790
9,910 -3,001 -1, 791
-152
-342
140
164
1,612
do
12r_25,161 1 2 3, 236
—144 -1,912
84
7,625 -2,418 10, 283 -3, 153 -2, 107 2,790 -6,112 -1, 130
6,112
do _ 1 2 '25,161 12-3,236
1,912 -7, 625
144
-84
2,418 -10,283 3,153
1,130 -1,612
2,107 -2, 790
do
1 2 23, 100 12-11,146 1,626 -1,887
4,388
418 -2,456 -1,485 -8,587 4,438
-375
2,695 -2,012
679
1
2 r 2, 061 1 2 7, 910 -1,710
do
1,494 -5, 169
1,724 -1,565
400
2,031
3,903 -1,696 -1,285
1,428 -2, 415
-97
97
-194
291
Gross amount of debt outstanding? .
do
i 369, 769
Held by the public .
.
do . 1. 290, 629
Budget receipts by source and outlays by agency:!
Receipts (net), total
mil. $ 12153,671
Individual income taxes (net)
do ... i 68, 726
Corporation income taxes (net)
do
i 28, 665
Social insurance taxes and contributions
i 34,622
(net)
mil. $
1221,659
Other
do
Expenditures and net lending total 9
do
Agriculture Department
do
Defense Department, military
do
Health. Education, and Welfare Department
mil.$_.
Treasury Department
do
National Aeronautics and Space Adm
do
Veterans Administration
do
Receipts and expenditures (national income and
product accounts basis), qtrly. totals seas. adj.
at annual rates:
Federal Government receipts, total
bil. $._
Personal tax and nontax receipts
do
Corporate profit tax accruals
do
Indirect business tax and nontax accruals do
Contributions for social insurance
do
Federal Government expenditures, total... do
Purchases of goods and services
do
National defense.
do
Transfer payments
do
Grants-in-aid to State and local govts
do
Net interest paid...
do
Subsidies less current surplus of government
enterprises
bil $
Surplus or deficit ( — )
do
-373
-485
373
-316
-448
-236
i 367, 144 373, 618 373, 165 373, 854 372, 216 373, 677 367,144 »• 371,753 ' 374,098' 373,953 377,615 381, 192 381, 220 380, 502
i 279,483 293, 481 291, 595 292, 012 289, 557 288, 072 279,483 ' 283,921 r 284,599 - 284,224 288,612 291, 306 289,294 289, 100
1 2 187,792 15, 845
1 2 87,249 10, 222
i 36, 678
1,603
14,590
7,287
682
13,727
3,999
4,965
23, 596
12, 106
5,323
13,346
4,760
806
23,805
10,123
8,588
12,542
6,404
1,070
14, 999
7,230
571
20,406
9,776
5,551
11,832
6,636
843
14, 332
7,236
634
16,704
6,774
5,527
16, 303
10, 660
1,127
2,176
1,844
4,880
1,742
2,865
1,898
3,881
2,286
5,748
2,031
2,823
2,271
2,879
2,190
5,209
1,989
3,022
2,057
2,364
1,988
4,078
2,383
2,190
2,214
2,674
1,843
i 2«178,833 12184,556 15, 761
808
i'7,307 1 2 8, 330
i 77, 373 1 2 77,877 6,568
14, 734
395
6,227
15,639
447
6,543
15, 972
610
6,682
15, 764
344
6,480
13,522
-593
7,262
15, 695
825
6,346
17,106
1,338
6,612
17, 616
1,857
6,479
17,944
1,276
6,982
15, 461
640
6,051
15,092
598
6,584
16, 399
731
6,419
3,849
1,422
335
649
4,007
1,511
385
712
4,169
1,506
353
692
4,054
1,470
367
684
4,231
1,476
326
652
3,951
1,445
319
657
4,000
1,567
337
667
4,071
1,587
294
691
4,311
1,317
327
691
3,857
1,680
267
708
4,137
1,548
296
718
4,262
1,655
291
726
1 2 39,918
1 2 23,948
1240,576 1 2 46,599
i 14, 655 i 16,924
i 4, 721 i 4, 247
i 6, 858 i 7, 669
3,830
1,373
347
632
176.3
79.5
38.3
18.0
40.5
201.5
95.6
40.2
18.8
46.9
198.6
93.8
40 7
18.5
45.6
202.8
96.9
41 0
18.6
46.4
201 3
95 0
39.8
19.1
47 5
203.3
96.7
39 4
19.1
48.1
181.5
99.5
78.0
47.8
18.3
11.8
192.0
101. 9
79.2
52.4
20.0
13.1
188.5
101.6
79.0
50.8
19 0
12.5
189 3
100.6
78.5
52.1
19 3
12.9
193.6
103.2
80.3
52.7
19.8
13.1
196.7
102.3
79.2
53.9
22.0
13.7
C
4.3
-5.2
4.6
9.5
4 6
10 1
4 4
13 5
4.6
77
4.8
6.7
LIFE INSURANCE
Institute of Life Insurance:
Assets, total, all U.S. life insurance companies
bil. $.. 3188.64
Bonds (book value), total
_
do
3 79. 41
Stocks (book value), total
do
3 13.23
Mortgage loans, total
do
3 69 97
Nonfarm
.
do
3 64.17
Real estate. . . _ _ _ _ .
do
3 5.57
3 11 31
Policy loans and premium notes
do
Cash
do
3 1 68
Other assets
_do
» 7.47
r
Revised.
1
188.97
79.95
11.07
70.20
64.44
5.62
11.40
1.42
9.31
189. 92
80.51
11. 2S
70.36
64.58
5.64
11.52
1.42
9.20
190.83
80.74
11.48
70.48
64.69
5.67
11.70
1.38
9.38
» Preliminary.
« Corrected.
Data shown in 1968 and 1969 annual columns are for fiscal years ending June 30 of the
respective years.
2 includes revisions not distributed to months.
3 Annual statement
191. 36
80.72
11.62
70.66
64.86
5.65
11.90
1.35
9.45
192. 13
80.90
11.79
70.82
64.99
5.68
12.09
1.32
9.52
192. 31
80.85
11.93
70.96
65.11
5.71
12.32
1.24
9.30
193.04
81.24
11.85
71.08
65.23
5.79
12.65
1.19
9.24
194.03
81.37
11.97
71.25
65.39
5.80
12.92
1.20
9.52
194.80
81.58
12.08
71.43
65.56
5.81
13.17
1.22
9.53
195.93
81.87
12.22
71.57
65.77
5.85
13.41
1.27
9.74
196. 66
82.23
12.26
71.71
65.92
5.90
13.58
1.29
9.69
197.23
81.85
12.50
72.13
66.35
5.90
13.80
1.62
9.43
values.
J Revisions for July 1967-Dec. 1968 (July-May for debt outstanding) will be shown later.
9 Includes data for items not shown sepaiately.
iSURVEY
March 1970
1968
Unless otherwise stated in footnotes below, data
through 1968 and descriptive notes are as shown
in the 1969 edition of BUSINESS STATISTICS
C)F ClUKKISNT BUS!.NES 3
1969
1969
Annual
S-19
Jan.
Feb.
Mar.
Apr.
May
June
1970
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
11, 367
20
159
12, 487
11,367
FINANCE—Continued
LIFE INSURANCE-Continued
Institute of Life Insurance— Continued
Payments to policyh older s and beneficiaries in
U S total
-- mil. $ 14, 385. 0
6, 209. 3
Death benefits
_
do
967.2
Matured endowments
do
195.6
Disability payments
do
1, 401. 0
Annuity payments
do
2, 456. 4
Surrender values
do
3, 155. 5
Policy dividends
do
Life Insurance Agency Management Association:
Insurance written (new paid-for insurance):
Value estimated total
mil. $.. ' 150,743
104, 524
Ordinary (incl. mass-marketed ord.)
do
» 39, 591
Oroup
do
6,628
Industrial
. _ _ -.
do..
Premiums collected:
18, 052
Total life insurance premiums
do
13, 510
Ordinary (incl mass-marketed ord )
do
3,201
Group
do
1,341
Industrial
do
MONETARY STATISTICS
Gold and silver:
Gold:
Monetary stock, U.S. (end of period) ...mil. $._
Net release from earmark§
_ do
Exports
thous. $
Imports
_
do
Production world total
mil $
South Africa..
do.
Canada
do
United States _ _ . _
_
do
Silver:
Exports
_
thous. $
Imports
-_
do.
Price at New York
dol. per fine oz
Production:
Canada
thous. fine oz.
Mexico _
_ _ _
do
United States
do
Currency in circulation (end of period)
157, 898
113,044
38, 491
6,363
10, 586
8,094
1,992
500
11, 149
8,439
2,191
519
13, 360
9,798
2,971
591
13,947
9,632
3,770
545
12,436
9,602
2,240
594
13, 261
9,691
3,039
531
12,104
9,053
2,560
491
13,230
8,791
3,931
508
12, 464
8,905
3,026
533
14, 152
10, 590
3,009
553
13,052
9,417
3,115
520
18, 157
11, 032
6,647
478
18, 933
13, 142
3,492
1,299
1,519
1,165
252
102
1,493
1,137
263
93
1,560
1,181
283
96
1,555
1,170
289
95
1,531
1,161
275
96
1,536
1,159
282
96
1,580
1,192
294
94
1,520
1,125
300
95
1,564
1,155
311
98
1,626
1,242
286
98
1,440
1,085
264
91
2,009
1,370
393
246
10, 367
755
12, 287
236, 905
10, 367
-66
0
14, 292
10, 367
-28
202
15, 005
10, 367
-16
192
22, 837
10, 367
48
613
24,956
10, 367
91
358
17, 156
10, 367
-2
193
23, 742
10,367 10,367
-11
17
239
9,531
8,066 19, 519
10,367
29
364
27, 052
10, 367
25
150
19, 817
10, 367
-19
244
22, 600
10, 367
687
200
21, 863
1, 090. 7
85.2
83.4
7.8
86.7
7.1
89.1
7.6
89.3
7.3
90.0
7.4
91.3
7.3
252, 147 4 88, 908
3 145, 153 4 44, 909
2.145
1.791
8,653
6,719
1.979
17,648
8,244
1.840
10, 417
9,086
1.826
12,424
9,450
1.778
27, 930
9,406
1.761
3,176 ' 3, 274 3,569
2,955 3,406 4,494
5,529
4,723 5,233
3,387
4,059
4,977
4,140
2,974
4,287
3,587
3,212
4,805
3,382
3,402
2,645
10, 367
187
839, 160
226, 262
2pl,420 0
1, 088. 0
94.1
53.9
3
bil. $..
Money supply and related data (avg. of daily fig.) :©
Unadjusted for seasonal variation:
Total money supply
bil $
Currency outside banks... . .
do__
Demand deposits _
do
Time deposits adjusted^
do
U.S. Government demand deposits^
do
Adjusted for seasonal variation:
Total money supply
do
Currency outside banks..
_ . do
Demand deposits
__.do
Time deposits adjusted^. ._
do
Turnover of demand deposits except interbank and
U.S. Govt., annual rates, seas, adjusted:
Total (233 SMSA's) 0.. ratio of debits to deposits..
New York SMSA
.do
Total 232 SMSA's (except N.Y.)
do
6 other leading SMSA'stf
do
226 other SMSA's
do
PROFITS AND DIVIDENDS (QTRLY.)
Manufacturing corps. (Fed. Trade and SEC):
Net profit after taxes, all industries
mil. $..
Food and kindred products
do ..
Textile mill products
do
Lumber and wood products (except furniture)
mil. $
Paper and allied products ..
do
Chemicals and allied products
do
Petroleum refining
do
Stone, clay, and glass products
...do
Primary nonferrous metal
do
Primary iron and steel.
do
Fabricated metal products (except ordnance,
machinery, and transport, equip.)
mil. $__
Machinery (except electrical)
do
Elec. machinery, equip., and supplies
do...
Transportation equipment (except motor
vehicles, etc.)
__
mil. $
Motor vehicles and equipment
do
All other manufacturing industries
do
Dividends paid (cash) , all industries
do
Electric utilities, profits after taxes (Federal Reserve)
mil $
1, 293. 9 1, 206. 8 1, 363. 7 1, 270. 5 1, 240. 5 1, 287. 1 1, 246. 9 1,251.2 1,279.1 1, 280. 5 1, 117. 8
562.2
547.0
616.3
560.4
560.7
542.4
553.5
589.0
548.5
564.9
483.8
80.1
89.5
83.9
81.3
67.2
76.8
82.5
71.5
82.7
71.7
87.5
15.0
16.0
17.2
18.7
16.6
20.0
18.7
16.3
14.2
18.5
16.9
123.8
127.1
132.1
127.6
131.2
151.4
127.8
123.4
138.4
129.8
133.8
206.4
240.0
226.3 230.2
231.1
221.8
238.7 232.2
195.2
234.8 226.6
219.3
229.1
265.7
272.7 249.5
287.7
225.7
236.8 254.6
252.6
223.1
93.7
6.7
93.9
6.6
95.1
7.0
95.2
6.5
93.6
6.8
89.5
7.1
8,643 4 8, 365
8,299 4 5, 427
1.645
1.618
10, 889
4,446
1.653
7,838
6,117
1.785
10, 103
4,993
1.872
2,363
3,026
1.923
2,358
3,474
1.807
3,697 ' 3, 592 3,704
4,760
2,912
6,017
3,993
2,877
4,761
3,301
1.876
1.896
45, 390
5
40,031
37, 168
52, 552
3,495
3,936
51.0
54.0
49.0
49.0
49.5
49.6
50.4
50.9
51.1
51.5
51.3
51.7
53.0
54.0
188.6
42.0
146.6
192.4
5.7
198.3
44.8
153.5
198.4
5.6
201.7
43.5
158.2
202.8
4.9
194.8
43.4
151.4
202.4
6.9
195.0
43.7
151.3
202.9
4.8
199.2
43.8
155.3
202.7
5.4
194.4
44.2
150.3
202.2
9.2
197.0
44.7
152.3
201.0
6.0
197.8
45.2
152.7
197.7
5.6
195.9
45.4
150.5
195.5
4.3
197.6
45.2
152.4
194.3
5.3
199.3
45.6
153.7
193.7
4.2
201.0
46.4
154.7
192.6
5.1
207.2
206.0
46.0
46.9
159.1 ' 161. 1
191.7
192.4
4.8
5.5
198.0
45.9
152.0
192.0
7.1
195.8
43.5
152.3
203.2
196.3
43.8
152.5
202.4
196.8
44.1
152.6
202.3
198.1
44.2
154.0
202.3
198.3
44.5
153.8
201.7
199.0
44.8
154.2
200.8
199.3
45.0
154.4
197.7
199.0
45.3
153.8
194.5
199.0
45.2
153.7
194.1
199.1
45.6
153.6
193.5
199.3
45.9
153.4
193.4
199.6
45.9
153.7
194.1
201.2
46.1
155.1
192.1
199.5
46.4
153.1
192.0
65.7
138.3
46.2
65.5
38.2
67.3
144.9
47.0
67.2
38.7
66.0
142.6
46.1
64.5
38.5
66.6
140.9
47.2
66.3
39.4
68.2
147.3
47.5
67.1
39.5
68.7
145.5
48.4
68.6
40.1
67.6
136.1
49.4
71.8
40.3
70.1
146.5
49.7
72.9
40.3
72.3
153.5
50.9
73.0
41.9
70.8
148.8
50.6
72.9
41.5
70.5
151.6
49.4
71.7
40.3
69.4
145.7
49.2
69.6
40.8
69.3
139.9
50.5
71.6
41.7
3,958 r 5, 420 ' 4, 069
4,440
32, 069
2,209
654
7,929
506
138
8,944
580
173
7 994
660
153
635
889
3,525
5,794
769
1,149
1,186
201
225
886
1,468
107
321
293
229
265
961
1,480
263
371
348
109
243
884
1,442
273
335
244
1,320
2,947
2,518
310
697
625
369
930
653
324
760
663
1,025
3,222
4,229
14, 189
274
855
1,019
3,606
272
821
1,230
3,797
228
404
1,271
3,452
3,002
873
707
51.9
SECURITIES ISSUED
Securities and Exchange Commission:
Estimated gross proceeds, total. _.
By type of security:
Bonds and notes, total
Corporate
Common stock
Preferred stock
mil. $
do
do "
do
do
65, 562
52, 546
4,284
4,087
3,514
3,825 3,278 2,759
60, 979
44, 150
17, 383
1,616
1,237
1,344
18, 348
3,946
7,714
393
736
657
637
682
72
67
98
Rev ed
XT'
^ ^Preliminary,
i includes coverage on Federal employees of $3.4 bil. in
Nov. 1968.
2 Estimated; excludes U.S.S.R., other Eastern European countries, China
Mainland, and North Korea.
s includes silver coin data for Jan.-June 1968 not included
in figures shown in the 1969 BUSINESS STATISTICS.
4 Monthly data beginning July
and annual total figures exclude silver coin.
s Includes revisions not distributed to months.
5,780
4,608
4,056
5,015
3,315
3,311
4,426 2,832
4,950 3,914
3,232 '4,770 ' 3, 085 3,769
1,786
1,889
1,917
1,382
944
1,701 ' 1, 282 ' 1, 390 1,860
553
694
-•630
762
'902
410
652
684
640
50
36
72
74
20
68
32
10
83
§ Or increase in earmarked gold (—).
©Series revised to reflect the change in accounting
procedures associated with Euro-dollar transactions and to reflect new benchmarks and
changes in seasonal factors.
JAt all commercial banks.
OTotal SMSA's include some
cities and counties not designated as SMSA's. ^Includes Boston, Philadelphia, Chicago,
Detroit, San Francisco-Oakland, and Los Angeles-Long Beach.
SURVEY OF CURRENT BUSINESS
S-20
1968
Unless otherwise stated in footnotes below, data
through 1968 and descriptive notes are as shown
in the 1969 edition of BUSINESS STATISTICS
1969
1969
Jan.
Annual
March 1970
I Feb.
Mar.
Apr.
May
June
1970
July
Aug.
Oct.
Sept.
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. $.
Manufacturing
do
Extractive (mining)
do
Public utility..
_
do
21, 966
6,979
r
594
5,281
26, 744
6,356
1,721
6,736
2,075
403
150
627
2,045
513
260
315
2,098
491
168
404
2,748
513
115
784
2,076
569
229
392
2,530
691
163
702
2,478
875
86
493
1,427
362
108
507
2,427
625
106
545
do
do
do
246
1,766
2,820
294
2,188
4,409
13
186
232
26
56
272
44
232
274
21
44
548
8
197
273
41
191
298
25
286
389
17
126
181
31
272
442
r444
- do
do
-do
43, 596
18, 025
16, 374
25, 802
4,765
11,460
2 209
427
1,244
2,041
443
974
1,416
382
520
3,032
412
1,627
2,533
410
1,088
1,525
419
710
2,537
421
1,052
1,888
377
794
1,531
353
531
do
do.
16, 374
8,659
11, 460
11, 928
1,244
640
974
837
520
783
1,627
1,292
1,088
905
710
1,072
1,052
627
794
1,140
1
1
1,002
9, 790
i 3, 717
1923
i 7, 445
i 2, 803
1 054
9 042
3 597
1,056
9,148
3,647
1,063
8,318
3,294
965
8,044
3,077
988
8,474
3,084
978
8,214
3,084
975
7,515
2,783
76.4
93.4
68.6
79.0
72 5
88.0
72.1
86.4
71.0
83.7
70.1
84.2
70.2
82.3
68.8
78.6
72.33
64.49
67.61
66.55
64.90
67.73
66.68
Sales:
Total, excl. U.S. Government bonds (SEC):
All registered exchanges:
Market value
_ mil. $_. 5, 669. 52 4, 501. 18
Face value. . _
..
.
do 5, 458. 55 5, 123. 47
498 22
517. 50
399. 88
409. 00
388. 20
426. 23
406.63
446. 13
4, 401. 94 3, 550. 33
4, 447. 68 4, 123. 33
389. 95
409 21
303. 99
319. 45
306. 40
345. 57
New York Stock Exchange, exclusive of some
stopped sales, face value, total
mil. $ 3, 814. 24 3, 646. 16
344 56
289. 19
Railroad
Communication
Financial and real estate
Noncorporate, total 9
U.S. Government
State and municipal
State and municipal issues (Bond Buyer) :
Long-term
_
Short-term
1, 933
'260
••49
745
r
2, 375
r
453
'188
'622
2,532
601
99
600
23
201
'533
15
277
524
3,487
440
1,254
1,695
300
853
1,908
380
812
531
1,168
1,254
795
853
1,439
'812
1,230
' 1, 314
'878
930
7,019
2,577
950
7 039
2,579
979
7,243
2,753
921
7,111
2,613
923
'7,445
'2,803
933
6 683
2 626
68.2
78.5
68.4
76.1
67.2
73.6
66.5
74.9
65.6
73.4
62.9
68.7
c 62 2
69.7
62 4
71.7
64.84
64.75
65.18
62.64
63.05
61.08
58.71
58 33
61 63
422. 50
438. 10
370. 32
410.29
330. 44
393. 16
315. 76
375. 63
271. 52
338. 22
397. 35
466. 10
318. 32
376. 13
382.04
526. 97
363 31
485 34
320. 97
360. 37
299. 98
333 90
288. 21
331. 35
269. 23
324. 81
255. 55
304. 60
210. 08
269. 61
319. 84
372.88
261.94
308 69
324.20
442.89
314 79
411 57
280. 23
325. 13
289. 74
300. 46
293. 42
245. 99
239. 42
341. 33
263.80
432 91
304 63
'31
120
1 178
1 420
SECURITY MARKETS
Brokers' Balances
(N.Y.S.E. Members Carrying Margin Accounts)
Cash on hand and in banks
Customers' debit balances (net)
Customers' free credit balances (net)
mil. $
do
do
Bonds
Prices:
Standard & Poor's Corporation:
High grade corporate:
Composited"
dol. per $100 bond-Domestic municipal (15 bonds)
...do
U.S. Treasury bonds, taxablel
do
New York Stock Exchange:
Market value
Face value
Yields:
Domestic corporate (Moody's)
By rating:
Aaa
Aa
A
Baa
_ __do
do
281 84
percent. .
6.51
7.36
6.89
6.93
7.11
7.17
7.10
7.27
7.39
7.37
7.53
7.72
7.76
8.13
8.32
do
..do
do
do _
6.18
6.38
6.54
6.94
7.03
7.20
7.40
7.81
6 59
6.73
6 93
7.32
6.66
6.77
6 97
7.30
6.85
6.95
7.13
7.51
6.89
7.02
7.21
7.54
6.79
6.96
7.12
7.52
6.98
7.12
7.28
7.70
7.08
7.24
7.40
7.84
6.97
7.23
7.41
7.86
7.14
7.36
7.56
8.05
7.33
7.53
7.79
8.22
7.35
7.58
7 84
8.25
7.72
7.93
8 21
8.65
'7 91
'8 15
r g 35
'8 86
7
8
8
8
do
do
do
6.41
6.49
6.77
7 25
7.49
7.46
6 78
7 02
6 98
6 82
7.05
6.98
7.02
7.23
7.16
7 07
7.26
7.25
6.99
7.15
7.27
7 16
7.38
7.37
7.29
7.49
7.50
7.29
7.40
7.57
7 42
7.62
7.68
7 59
7.91
7.76
7 61
7 94
7 83
7 95
8 39
8 15
r g 15
'8 54
' 8 38
8 11
8 47
8 39
Domestic municipal:
Bond Buyer (20 bonds)
Standard & Poor's Corp. (15 bonds)
do
do
4.47
4.51
5.79
5.81
4 91
4.95
5.04
5.10
5.25
5.34
5. 10
5.29
5.60
5.47
5.68
5.83
5.93
5.84
6.26
6.07
6.19
6.35
6.13
6.21
6.58
6.37
6.79
6.91
6.78
6.80
6.16
6.57
U.S. Treasury bonds, taxable©
do
5.25
6.10
5.74
5.86
6.05
5.84
5.85
6.06
6.07
6.02
6.32
6.27
6.51
"6.81
6.86
6.44
8.53
9.24
4.50
4.55
5.82
8.62
8.98
9.83
4.61
4.60
6.40
9.44
8.86
9.67
4.58
4.62
6.14
9.86
8.90
9.72
4.58
4.62
6.14
9.86
8.91
9.73
4.59
4.62
6.23
9.86
8.93
9.77
4.59
4.62
6.23
9.86
8.95
9.78
4.61
4.63
6.37
9.86
9.03
9.90
4.61
4.66
6.37
9.86
9.03
9.90
4.61
4.66
6.37
9.86
9.03
9.90
4.62
4.67
6.41
9.86
9.04
9.90
4.62
4.67
6.61
9.86
9.05
9.90
4.62
4.67
6.61
10.12
9.06
9.92
4.63
4.67
6.61
10.20
8.99
9.92
4 63
4.10
6.70
10.20
9.13
9.98
4 64
4.02
6.70
10.23
9.13
9.97
4.64
4.02
6.70
10.23
264. 62
315. 86
98.37
101. 00
262. 77
313 15
94.55
93 90
273. 42
321 13
106. 49
114 80
262. 20
309.17
101.51
106 17
271. 57
324. 26
99.88
104.88
277. 63
330. 61
99.64
102 33
277. 23
330. 32
99.81
100. 84
264. 58
315. 83
94.53
92 40
249. 38
296. 79
92.47
85 98
259. 67
310. 95
91.13
87 16
252. 76
302. 90
86.29
87.15
263.28
314. 69
92.25
87 36
252. 78
301.65
85.98
80 73
248.68
299 54
84. 62
76 96
231. 68
278. 68
80.31
73 87
244. 45
290.09
85.35
78 55
3.22
2.93
4.57
4.50
3.40
3.10
3.42
3.14
4 88
4.90
3.72
3.37
3.24
3.01
4 30
4 02
3.21
2.85
3.39
3.14
4.51
4.35
3.54
3.02
3.28
3.00
4.60
4.41
3.42
3.25
3.22
2.96
4.61
4.51
3.49
3.27
3.23
2.96
4.62
4.59
3.70
3.18
3.41
3.13
4.88
5.04
3.91
3.62
3.62
3.34
4.99
5.42
4.28
3.99
3.48
3.18
5 07
5.36
3.80
3.87
3.58
3.27
5.35
5.36
4.03
3.61
3.44
3.15
5 01
5.35
3.61
3.19
3.58
3.29
5.38
5.78
3.95
3.28
3.62
3.31
5 47
5.33
3.92
3.65
3.94
3.61
5 78
5.44
4.20
'3.84
3.73
3.44
5.44
5.12
3.61
3.58
_
By group:
Industrials
Public utilities
Railroads
8.29
93
13
31
78
Stocks
Dividend rates, prices, yields, and earnings, common stocks (Moody's):
Dividends per share, annual rate, composite
dollars..
Industrials
_
- do
Public utilities
do
Railroads
do
N.Y. banks
do
Fire insurance companies
do
Price per share, end of mo., composite
Industrials
Public utilities
Railroads
Yields, composite
Industrials.
_
Public utilities
Railroads
N.Y. banks
Fire insurance companies
do
do
do
do
percent..
do
do
do
do
do
Earnings per share (indust., qtrly. at ann. rate;
pub. util. and RR., for 12 mo. ending each qtr.) :
Industrials
dollars
17.62
17.68
17 709
Public utilities
do
6.74
6.67
69
Railroads
do
7.33
7.25
r
c
Revised.
1 End of year.
Corrected.
9 Includes data not shown separately.
cfNumber of bonds represented fluctuates; the change in the number does not affect the
18.34
6 81
7.72
16.25
6 89
' 7.82
18.60
6 92
continuity of the series.
1 Prices are derived from average yields on basis of an assumed 3 percent 20-year bond.
OFor bonds due or callable in 10 years or more.
March 1970
SURVEY OF
1968
Unless otherwise stated in footnotes below, data
through It 63 and descriptive notes are as shown
in the 1969 edition of BUSINESS STATISTICS
CURRENT BUSINESS
1969
Annual
s-21
1969
Jan.
Feb.
Mar.
Apr.
May
June
1970
July
Aug.
Sept.
Oct.
i
1
Nov.
Dec.
Jan.
Feb.
FINANCE—Continued
SECURITY MARKETS— Continued
Stocks— Continued
Dividend yields, preferred stocks, 10 high-grade
(Standard & Poor's Corp.)
percent. .
5.78
6.41
5.93
5.94
6.09
6.14
6.20
6.33
6.42
6.44
6.61
6.79
6.84
7.19
7.02
7.04
322. 19
906. 00
130.02
301. 35
876. 72
123. 07
221. 02
337.64
934. 99
135. 62
268. 78
337.85
931. 29
136.89
269. 75
322. 11
916. 52
130. 90
245. 26
320. 24
927. 38
129. 14
238. 01
325. 88
954.86
130.83
238.15
305. 86
896.61
124. 48
221. 99
286. 41
844. 02
120. 40
202. 88
279. 78
825. 46
115. 76
199.24
279. 05
826. 71
113. 35
199. 06
280.44
832. 51
115. 12
198. 39
281. 02
841. 09
116.04
195. 47
259. 88
789. 22
108. 36
175. 32
258. 36
782. 96
109. 42
173. 64
251. 63
756. 21
108. -87
169. 83
98.70
97.84
102.04
101.46
99.30
101. 26
104.62
99.14
94.71
94.18
94.51
95.52
96.21
91.11
90.31
87.16
107. 49
Industrial, total (425 stocks) 9
--do
105. 77
Capital goods (130 stocks)
do ..
86.33
Consumers' goods (181 stocks) _
do
Public utility (55 stocks)
do..- 66.42
48.84
Railroad (20 stocks)
do. .
107. 13
103. 75
87.06
62.64
45.95
110.97
106. 56
87.69
68.65
54.11
110. 15
105. 47
87.93
69.24
54.78
108.20
103. 76
86.69
66.07
50. 46
110. 68
105 54
88.21
65.63
49.53
114. 53
108. 66
91.57
66.91
49.97
108. 59
102. 68
88.12
63.29
46.43
103. 68
100. 55
83.04
61.32
43.00
103. 39
100.90
83.44
59.20
42.04
103. 97
102. 27
85.26
57.84
42.03
105. 07
103. 67
87.29
58.80
41.75
105. 86
104.68
89.84
59.46
40.63
100.48
100.31
85.62
55.28
36.69
99.40
99.70
85.42
55.72
37.62
95.73
96.55
83.74
55.24
36.58
Prices:
Dow-Jones averages (65 stocks)
Industrial (30 stocks)
Public utility (15 stocks)
Transportation (20 stocks)
.
250. 09
Standard & Poor's Corporation :d"
Industrial, public utility , and railroad:
Combined index (500 stocks). .'.. 1941-43=10..
Banks:
New York City (9 stocks)
_ do
Outside New York City (16 stocks). .„ do.. ..
44.69
81.71
45.39
87.72
49.49
92.57
49.52
94.50
46.10
90.89
47.04
93.39
46.69
92.78
43.55
85.81
41.98
82.49
41.87
80.41
44.40
83.47
44.47
85.73
46.00
88.09
43.55
82.57
44.11
79.34
45.64
77.11
Property-liability insurance (16 stocks)_,do
73.64
85.43
95.51
96.80
88.29
86.47
86.04
79.17
74.54
72.83
76.91
88.52
94.19
85.85
83.88
81.25
55.37
58.00
50.58
44.19
65.85
54.67
57.44
46.96
42.80
70.49
57.82
60.32
56.35
45.64
75.58
57.33
59.61
56.18
45.98
75.26
55.69
58.30
51.52
44.06
70.60
56.61
59.41
50.88
44.34
72.38
58.50
61.50
50.46
45.75
75.10
55.20
58.07
47.70
43.39
68.62
52.40
55.00
42.80
42.31
64.56
52.09
54.85
41.45
41.34
65.29
52.37 • 53.27
55.29
56.22
42.72
43.12
40.20 40.55
68.16
71.71
53.85
56.84
42.59
41.36
71.62
50.86
53.93
37.77
38.69
66.95
50.60
53.58
37.51
38.76
66.19
48.76
51.29
36.06
38.55
65.01
175, 298
4,963
17,957
515
15, 187
407
33, 234
366
13, 911
379
18, 189
502
14,860
420
12,685
359
12, 392
367
12,429
355
17, 152
488
13, 352
376
13, 951
430
12, 940
396
129,603
3,174
13,056
305
11,007
247
9.755
237
10, 094
239
13, 081
305
10,847
264
9,561
240
9,405
246
9, 357
233
12,831
320
10,000
249
10, 609
288
9,412
255
2,851
267
210
199
237
257
235
228
202
219
310
214
272
221
218
629.45
15, 082
689.24
13, 326
654. 51
13,448
672. 59
13, 657
691. 07
13,806
693. 14
14, 050
650.50
14,400
611.15
14, 505
641.58 627. 50
14, 761 14,833
661. 44
14,918
640. 16
14, 986
629. 45
15,082
582. 67
15, 136
616. 34
15, 227
New York Stock Exchange common stock indexes:
Composite
__._
12/31/65=50..
Industrial
. do_ _
Transportation
do
Utility
do
Finance
_ - do
Sales:
Total on all registered exchanges (SEC):
196, 358
Market value
mil $
5,312
Shares sold
millions
On New York Stock Exchange:
144, 978
Market value
mil $
3,299
Shares sold (cleared or settled)
millions
New York Stock Exchange:
Exclusive of odd-lot and stopped stock sales
(sales effected)
.
millions. . 2,932
Shares listed, N.Y. Stock Exchange, end of period:
Market value all listed shares
bil $
Number of shares listed
_ . _ _ millions..
692. 34
13, 196
FOREIGN TRADE OF THE UNITED STATES
FOREIGN TRADE
Value of Exports
2,104.1 2,177.7 3,419.3 3,564.1 3,599.6 3,168.3
3,042.9 3,215.6 3,186.0 3,618.3 3, 471. 2 3,421.2 3, 298. 4
Exports (nidse.), incl. reexports, total
mil. $.. 34,635.9 37, 988. 3
Excl. Dept. of Defense shipments
Seasonally adjusted
34,062.8 37, 314. 4
2,049.4 2,143.3 3,368.0 3,505.1 3,548.1 3,098.2 2,995.2 3,153.8 3, 112. 7 3,562.7 3,415.2 3, 362. 6 3, 238. 0
2,085.9 2,295.2 3,197.3 3,352.9 3,296.3 3,211.2 3,168.5 3,372.7 3, 325. 9 3,362.0 3,367.1 3, 238. 6 3, 305. 2
1, 269. 4 1,319.6
7, 581. 9 8,265.2
998.0
1, 026. 0
11,347.3 12, 619. 2
42.2
410.9
52.3
657.7
126.4
144.7
145.8
48.7
767.9
718.5 804.4
400.4
93.2
122.7
90.0
36.8
702.8 1, 182. 3 1, 179. 7 1, 237. 3
8, 073. 8
2, 598. 8
2, 738. 6
9, 138. 0
2, 761. 9
2,814.4
687.6
158.9
101.8
687.3
179.2
123.8
788.9
243.0
265.7
794.3
243.9
275.1
By geographic regions:
Africa .
A sia
Australia and Oceania
Europe »
. .
Northern North America
Southern North America
South America
.
do
do
. _ do
do
do
_
do
.
.
do. .
do
do
125.5
710.0
67.5
991.4
131.2
130.3
109.4
130.4
123.1 122.9
141.6
795.5
738.0 717.3 769.5 768.8 776.7
691.7
81.7
78.4
96.0
96.6
77.1
110.7
77.2
999.2 1, 110. 7 1, 015. 3 1,210.3 1, 184. 5 1, 159. 3 1, 167. 5
836.3
247.2
271.4
788.3
226.7
260.6
655.2
228.7
261.2
661.3
227.3
263.0
801.6
223.6
241.8
879.2
273.9
258.8
806.3
244.1
248.5
756.6
264.6
245.2
649.4
243.8
230.1
By leading countries:
Africa:
United Arab Republic (Egypt)...
Republic of South Africa
do....
do
48.4
455.7
67.2
505.5
1.4
19.9
1.0
24.0
3.5
49.1
8.3
52.7
5.3
43.8
13.9
40.4
7.0
44.0
5.2
51.4
4.2
38.2
7.5
50.8
5.2
40.7
4.6
50.2
13.8
39.9
Asia; Australia and Oceania:
Australia including New Guinea
India
Pakistan
_
Malaysia
do
do
do .
do
874.9
717.6
301.9
53.6
860.0
517.1
195.2
51.9
47.2
18.7
8.6
1.8
29.9
11.7
3.8
1.9
86.5
48.9
19.4
4.1
107.6
57.5
17.9
6.1
76.8
60.3
13.2
3.9
58.0
69.5
16.2
4.7
67.4
77.8
12.9
3.9
77.4
46.2
13.4
4.1
64.7
31.6
16.5
5.8
93.6
19.6
18.2
4.1
85.5
27.9
31.8
4.3
65.8
47.4
24.9
7.0
69.2
51.2
23.0
4.8
do
do
do
167.1
436.3
2, 954. 3
201.1
374. 3
3,489.7
8.7
20.6
193.2
4.6
22.9
211.7
10.0
45.6
285.7
16.8
41.7
300.0
19.6
39.3
293.1
20.6
31.3
264.4
16.7
30.1
274.0
16.3
32.1
329.8
15.1
23.7
304.4
28.4
28.5
352. 7
28.3
29.6
335.3
20.6
29.0
346.5
26.8
25.9
356.7
do
do
do
1,095.0
29.0
1, 708. 9
1, 195. 3
32.4
2, 117. 9
58.5
.2
91.2
76.7
1.2
101.5
123.9
2.5
178.5
124.6
2.1
182.2
124.6
2.1
243.5
90.1
1.4
159.8
94.9
3.7
169.1
96.7
.4
169." 7
88.0
1.8
224.3
101.9
5.1
207.8
96.3
4.0
193.2
118.5
7.5
191.3
112.4
1.3
209.1
do .
do
do
1, 120. 6
57.7
2,288.7
1, 261. 7
105.5
2,335.3
58.0
4.1
162.3
78.3
5.5
125.3
114.1
10.0
229.3
103.7
8.4
208.8
130.2
10.8
231.5
97.5
7.5
197.7
101.5
5.8
163.6
119.4
14.5
203.4
106.2
9.0
184.1
124.7'
13.4
221.6
121.0
5.1
211.7
108.5
11.5
197.2
107.9
9.1
181.6
661.3
794.3 836.3 788.2 655.2
9 Incl udes dat a not she>wn separately.
801.5
879.1
806.2
756.6
649.4
Indonesia
Philippines
Japan
Europe:
France
East Germany
West Germany
Italy
.
_
Union of Soviet Socialist Republics
United Kingdom
North and South America:
8,072.3 9,138.0 687.6 687.3 788.8
Canada
_ ._
. .do
Revised.
d*Number of stocks represents number currently used; the change in number does not
affect continuity of the series.
r
SURVEY OF CURRENT BUSINESS
S-22
Unless otherwise stated in footnotes below, data
through 1968 and descriptive notes are as shown
in the 1969 edition of BUSINESS STATISTICS
1968
| 1969
Annual
March 1970
1969
Jan.
Feb.
Mar.
Apr.
May
June
1970
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
464.6
37.1
56.7
25.9
30.6
145.9
64.9
433.8
35.7
60.6
25.2
28.5
135.8
59.8
446.2
34.3
53.9
34.5
28.7
137.6
••54.7
406.1
33.3
47.1
22.6
28.4
120.8
61.2
FOREIGN TRADE OF THE UNITED STATES—Continued
FOREIGN TRADE— Continued
Value of Exports— Continued
Exports (mdse.), incl. reexports— Continued
By leading countries— Continued
North and South America— Continued
Latin American Republics, total 9 ---mil. $.. 4, 699. 1
281.4
Argentina
- do
704.6
Brazil
do
306.7
Chile
- do._
319.2
Colombia
-._do _ _
1, 378. 0
Mexico
-do
655.0
Venezuela
-- do
4, 869. 2
378.3
672.0
314.6
302.8
1, 449. 5
708.2
222.9
11.8
22.6
9.3
10.0
101.8
36.2
256.7
17.8
26.5
8.8
10.8
102.5
39.1
440.5
40.1
66.3
32.9
23.0
120.7
62.0
450.7
34.1
67.8
28.1
33.3
117.8
68.7
450.6
33.0
62.0
26.9
32.3
120.6
73.2
431.3
30.3
66.9
25.2
30.7
117.2
66.5
433.4
32.2
76.0
29.6
22.4
119.0
61.7
431.2
34.4
58.1
37.4
27.1
116.0
65.6
409.1
36.2
55.6
30.8
25.6
114.6
57.7
34, 199. 0 37, 444. 3 2,064. 2 2,145. 4 3,374.1 3,514.8 3,555.0 3,120.9 3,000.5 3,162.7 3, 142. 7 3,574.3 3, 419. 5 3, 370. 2 3, 255. 9
- do
33, 626. 0 36, 770. 4 2,009. 5 2,111.1 3,322.8 3,455.8 3,503.4 3,050.7 2,952.8 3,100.9 3, 069. 4 3,518.8 3, 363. 5 3, 311. 6 3, 195. 5
do
583.7
516.9
601.9
512.3 499.8
438.4
239.6
646.0
177.7
657.8
515.9
471.5
do__ _ 6, 227. 2 5, 936. 3
590.8
27,971.9 31, 508. 0 1,893.8 1, 907. 2 2, 855. 9 2, 914. 7 2, 966. 5 2, 610. 2 2, 503. 4 2, 735. 9 2, 671. 3 2,935.5 2, 761. 7 2, 779. 3 2, 740. 0
.. do.
Exports of U S merchandise, total
Excluding military grant-aid
Agricultural products total
Nonagricultural products, total -
By commodity groups and principal commodities:
Food and live animals 9
mil. $
Meats and preparations (incl poultry) do._
Qrains and cereal preparations
do
3, 889. 6
161.6
2, 463. 1
3, 732. 7
199.4
2, 127. 2
129.5
10.8
53.0
168.2
12.2
81.1
323.2
18.3
174.8
350.4
17.3
204.7
362.8
21.7
214.5
354.8
15.8
209.5
333.0
15.9
211.1
312.9
13.8
181.9
318.0
16.4
182.8
372.0 •• 373. 5
23.9
18.5
195.0
222.8
334.5
14.9
195.6
324.1
11.5
191.3
do__ _
702.5
713.4
13.5
12.6
52.2
45.5
74.1
69.7
53.2
57.5
73.6
80.1
88.7
92.8
31.9
Crude materials inedible exc fuels 9
do._ _
Cotton raw excl linters and waste __ do_ _
Soybeans exc canned or prepared
do
Metal ores concentrates and scrap
do_
3,540. 7
459.4
810.3
1586.2
3, 569. 5
280.2
822.3
711.5
138.8
7.2
2.9
25.6
176.9
6.5
31.3
30.3
298.7
14.8
100.0
40.8
384.4
64.1
94.0
61.0
343.1
41.3
63.1
66.9
262.9
23.2
37.0
64.2
301.0
36.1
49.2
71.7
292.4
17.3
33.2
86.3
274.4
16.2
35.3
75.3
392.6
19.1
137.1
71.5
366.8
14.4
137.2
62.7
337.7
20.2
101.9
55.3
346.4
46.0
73.9
68.0
Mlneral fuels lubricants etc. 9
Coal and related products
Petroleum and products
1,049.9
523.9
454.4
1, 130. 7
636.3
433.9
73.8
42.4
25.5
61.2
34.0
23.4
76.1
33.5
33.7
94.4
49.1
40.3
110.6
64.3
42.3
107.1
62.3
41.3
91.3
56 1
34.0
105.4
55.7
44.0
98.4
54.0
39.7
103.6
61.7
37.4
106.7
65.5
36.6
102.0
60.2
37.1
88.3
50.3
32.9
274.4
307.6
14.0
15.3
22.3
31.6
25.3
29.0
27.0
20.5
24.6
27.0
34.7
36.3
31.0
286.1
298.5
310.3
282.6
297.5
289.9
302.3
318.5
375.2
47.2
72.5
62.2
374.6
43.9
81.8
62.2
410.9
51.6
85.2
66.3
395.9
47.1
84.5
68.6
451.9
54.7
110.8
67.6
411.3
54.2
107.4
62.2
431.2
52.2
121.1
72.0
425.6
49.1
106.8
81.3
Beverages and tobacco
do _ _
do
do.
-
Animal and vegetable oils, fats, waxes
Chemicals
Manufactured goods 9
Textiles
Iron and steel
Nonferrous base metals
do
do__ .
-
do do
- --do
do
3,287. 0
3, 382. 5
166.6
181.4
300.5
331.8
334. 9
3,939. 4
522.3
610.5
600.0
4, 554. 7
575.5
972.5
712.0
214.9
24.0
34.7
34.8
243.8
30.5
38.1
36.6
409.4
60.0
78.3
58.8
405.4
54.3
78.4
63.6
430.1
56.2
81.0
57.8
Machinery and transport equipment, total
mil. $-- 14,447.4 16, 380. 4 1, 088. 3 1, 070. 5 1, 540. 6 1, 572. 3 1, 563. 2 1, 325. 0 1, 244. 5 1, 320. 6 1, 334. 1 1, 505. 3 1,391.4 1, 424. 6 1, 359. 7
941.8
857.9
821.5
815.1 805.6
847.5
808.8 928.0
8, 597. 2 9, 865. 4
554.4
943.1
590.3
931.2
Machinery total 9
do
845.7
70.0
50.0
45.9
644.4
59.1
46.7
47.3
55.5
626.8
35.7
63.6
55.3
45.0
70.7
Agricultural
do
45.5
23.4
32.3
31.7
343.4
29.1
33.6
28.5
333.6
16.3
38.3
26.3
28.1
16.2
Metalworking
-__do
28.7
34.4
111.3
117.5
117.0
102.4
114.3
57.2
105.8
116.4
106.7
110.9
1, 098. 5 1, 247. 8
67.6
Construction excav and mining
do _
120.6
111.7
221.0
261.1
227.9
215.4
229.6
257.5
165.3
249.1
213.5
238.3
168.7
213.0
Electrical
do__ _ 2, 284. 0 2, 677. 7
238.3
538.1
621.6
510.1 438.9
525.3
596.5
579.1 533.4
535.6
473.1
481.0
Transport equipment, total
do_. _ 5, 850. 1 6, 515. 0
578.9
641.6
342.7 318.5 279.1
357.3 317.4
352.2 373.6
245.4
3, 370. 2 3, 788. 0
351.4
235.0
284.7
264.1
Motor vehicles and parts
do
345.9
206.6
223.2
201.0
224.6
195.7
222.6
2,144. 2 2, 445. 9
241.2
209.3
149.4
197.3
159.6
Miscellaneous manufactured articles
do
198.6
223.4
87.5
123.9
155.4
115.4
109.5
119.7
924.0 1, 226. 8
80.2
131.7
75.4
110.0
55.9
110.2
Commodities not classified
do
75.7
Value of Imports
General imports total
Seasonally adjusted
By geographic regions:
Africa
Asia
- Australia and Oceania
_
Europe
do-_
do
1, 122. 3 1, 045. 1
do
- do. _. 6, 911. 4 8, 275. 9
696.5
828.3
do__
10, 337. 7 10, 335. 6
do.
39.7
405.8
28.9
443.4
74.0
532.4
29.9
603.2
9,009.3 10, 393. 2
2, 259. 4 2, 518. 4
2, 879. 3 2, 643. 1
776.7
192.1
138.1
776.0
191.0
193.5
Northern North America
_
_ _ do
Southern North America
do
South America
_ _
do
By leading countries:
Africa:
United Arab Republic (Egvpt)
do
Republic of South Africa _
do
Asia; Australia and Oceania:
Australia including New Guinea
do
India
do. _
Pakistan
do
Malaysia
do
Indonesia
_ do
Philippines
do
Japan
do
Europe:
France
do
East Germany
__do__
West Germany
do
Italy
do
Union of Soviet Socialist Republics. _ _ do
United Kingdom
do
North and South America:
Canada
do
Latin American Republics, total 9
Argentina
Brazil
Chile
Colombia__
Mexico
Venezuela...
T
Revised.
9 Includes data not shown separately.
33,226.3 36, 051. 8 2, 022. 0 2, 399. 1 2,988.4 3,330.0
2, 014. 1 2, 652. 7 2,976.2 3,173.2
3,236.7 3,214.2
3,276.3 3,185.5
3,153.6 2,909.3 3, 131. 7 3, 430. 4 2, 989. 1 3, 247. 4 3, 125. 5
3,066.2 3,179.9 3, 055. 0 3, 221. 9 3, 213. 7 ,3,007.1 3, 249. 7
96.1
100.4
107.3
720.5
675.7
770.0
62.1
83.2
80.6
833.2 1,020.6 1, 036. 4
878.7
844.4
882.0
226.7
235.2 231.9
208.9
227.9
236.6
80.7
726.1
66.6
977.3
90.1
770.1
81.7
991.9
69.4
774.7
106.8
846.4
82.0
763.4
79.6
873.7
93.9
778.3
81.5
979.9
96.9
657.2
54.8
861.0
114.9
710.4
72.6
875.1
105.9
735.1
66.0
888.7
913.7
218.8
232.6
778.0
206.0
235.4
714.9
184.2
212.6
904.8 1, 025. 4
217.3
183.6
253.7
243.9
914.6
198.4
205.8
986.2
232.5
254.6
845.3
238.5
245.5
32.4
255.9
37.8
243.0
2.5
10.8
2.8
14.3
4.4
25.9
4.5
19.8
2.5
24.4
2.5
21.3
3.2
19.4
1.4
17.9
3.6
24.3
3.9
23.1
1.9
18.0
4.7
23.9
2.6
24,0
495.0
312.1
63.8
240.0
174.3
435.9
4, 054. 4
595.1
344.1
73.0
307.2
193.6
422.6
4, 888. 3
22.5
11.0
2.0
17.3
10.6
15.8
244.0
24.4
22.7
4.6
28.3
16.0
29.5
294.8
59.5
46.2
11.4
27.0
16.3
37.5
367.0
46.4
36.8
6.8
31.6
20.4
54.2
450.9
43.2
28.9
5.3
26.0
16.1
28.4
437.6
46.9
27.6
6.1
22.2
14.8
40.0
422.1
60.0
30.7
6.5
22.9
18.0
37.0
467.3
83.9
32.1
7.5
24.0
16.1
46.3
453.8
54.6
30.2
5.1
27.8
15.3
30.0
461.8
66.1
26.0
5.0
32.3
16.4
30.6
478.6
37.4
24.3
6.0
24.6
16.8
23.1
410.8
50.3
27.6
6.6
23.4
16.8
49.9
402.8
57.6
34.5
8.4
30.7
16.8
37.3
431.7
842.3
842.5
8.0
5.9
2, 721. 3 2, 603. 4
1, 101. 7 i 1,203.8
58.4
51.5
2, 058. 3 2, 120. 6
36.5
.5
105.8
53.7
4.6
108.6
47.9
.4
142.2
71.5
2.5
140.1
64.2
1.0
207.2
85.4
4.6
149.0
86.6
.7
263.0
125.8
5.6
192.1
82.6
.6
247.0
124.2
3.1
220.4
82.3
.8
240.4
113.7
4.9
197.9
85.5
26L9
117.3
2.6
201.7
76.8
.6
217.7
112.7
4.6
169.0
66.1
.6
209.5
103.3
4.1
182.7
72.1
.8
246.6
105.0
6.7
205.7
67.7
.7
223.9
100.4
5.0
181.1
74.6
.7
242.2
90.8
3.2
173.3
69.8
.8
230.8
91.8
15.2
186.8
9, 005. 2 10, 389. 9
776.6
775.9
844.1
881.9
878.6
913.7
777.6
714.2
904.5 1, 024. 6
914.5
985.9
845.2
402.8
11.9
53.6
8.9
27.7
98.9
96.3
393.0
14.7
48.2
14.8
25.0
104.0
104.4
4, 288. 2
do
190.2
_do
669.9
do
205.9
do-._.
264.0
_.do
do
909.8
949.8
do
4, 213. 6
155.6
616.3
151.4
240.4
1, 029. 3
940.1
247.1
6.1
14.8
2.4
8.6
80.7
84.3
309.3
10.9
38.6
20.3
14.5
81.4
75.1
371.8
14.3
56.9
11.2
20.1
94.2
70.7
387.5
16.8
55.0
13.2
24.4
93.5
74.8
356.3
12.6
41.4
15.9
17.7
94.9
73.3
377.0
14.6
63.1
11.8
22.6
94.2
79.8
363.2
15.1
63.9
11.1
21.0
77.6
76.8
324.6
12.6
51.9
12.2
16.1
72.0
83.1
348.7
14.9
53.5
20.8
24.1
66.8
82.1
388.4
12.8
60.5
12.3
23.3
87.3
86.6
337.1
13.0
63.3
11.2
20.5
87.6
57.3
Feb.
SUKVEY OF CUEKENT BUSINESS
March 1970
Unless otherwise stated in footnotes below, data
through 1968 and descriptive notes are as shown
in the 1969 edition of BUSINESS STATISTICS
1968
1969
1969
Annual
S-23
Jan.
Feb.
Mar.
Apr.
May
June
1970
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
FOREIGN TRADE OF THE UNITED STATES—Continued
FOREIGN TRADE— Continued
Value of Imports— Continued
General imports— Continued
By commodity groups and principal commodities:
172.1 312.1 492.6
499.0 453.0 441.1 437.8
399.0
Agricultural products, total
_
mil. $._ 5, 053. 6 4, 954. 4
471.7
394.5 460.9 404.0 488.7
28,172.7 31, 097. 5 1, 853. 8 2, 089. 3 2, 500. 4 2, 835. 3 2, 783. 5 2, 775. 1 2, 716. 1 2, 510. 6 2, 737. 2 2, 969. 5 2,585.1 2, 758. 7 2, 653. 8
Nonagricultural products, total
do
do
do
do
do
__do
do
do
__do
do
do
do
4, 577. 3
136.0
1, 139. 7
746.5
640.1
786.3
3, 345. 7
1, 007. 8
454.8
335.1
191.8
4, 530. 8
168.2
893.9
863.8
638.2
777.8
3,460.3
1, 012. 6
520.8
260.1
279.5
169.8
1.4
16.1
29.2
6.3
24.6
202.0
57.8
36.7
9.0
10.7
287.1
15.3
49.0
45.4
34.7
28.6
232.3
51.1
40.7
12.2
20.7
438.9
20.5
89.1
96.4
50.9
63.8
307.5
63.0
39.8
28.8
25.4
438.4
10.4
95.8
74.7
66.2
68.1
337.4
81.7
44.7
36.0
23.2
396.6
14.1
71.6
67.1
58.6
89.1
304.4
90.0
39.8
29.6
22.6
398.9
11.9
75.4
70.4
73.0
86. 8
293.5
83.0
45.3
25.3
23.1
414.4
18.6
72.0
84.4
78.0
62.8
294.0
93.6
43.8
22.3
19.4
363.7
15.4
62.0
94.4
56.5
54.1
290.8
91.6
40.3
23.8
26.9
368.6
5.5
75.3
91.0
44.7
67.1
288.8
92.2
42.7
16.8
25.2
430.1
11.2
103.5
88.1
57.3
93.0
320.7
112.8
52.0
16.7
30.4
369.4
16.5
99.9
54.5
34.1
72.7
275.2
90.5
47.4
18.4
26.2
454.7
27.2
84.2
68.4
78.1
67.2
313.8
104.7
47.8
21.3
25.8
431.6
32.7
92.6
82.9
38.4
68.0
271.4
75.2
41.8
20.5
27.4
do
do
do
do
2,526.7
2, 343. 2
157.9
1, 129. 1
2, 794. 0
2, 559. 9
136.7
1, 232. 0
249.1
235.2
6.1
69.9
230.0
209.0
12.5
80.9
225.0
208.6
11.7
111.4
238.8
224.1
11.2
124.9
219.4
198.7
13.6
108.6
212.6
196.3
8.6
114.5
221.3
202.5
11.0
101.0
227.6
205.0
10.2
99.2
229.2
212.9
10.2
99.7
247.4
223.1
13.9
120.4
201.4
185.5
11.7
101.8
292.1
261.9
16.2
99.7
274.7
250.6
9.6
112.2
- do
do
do
__do
do
8, 162. 4
2, 046. 5
862.9
2, 022. 5
962.4
7, 893. 3
1, 809. 1
938.6
1, 534. 6
1, 019. 0
398.2
64.6
67.7
79.5
45.3
533.2
72.8
71.0
137.6
69.2
653.1
119.2
74.4
135.9
112.9
784.1
187.3
78.5
159.0
107.0
761.5
208.6
74.0
138.7
91.5
726.0
180.8
83.3
136.5
88.2
728.7
179.1
81.3
129.7
86.6
645.9
160.3
74.5
116.8
93.4
707.5
176.6
82.6
134.0
87.2
698.4
169.7
84 6
129.6
84.5
620.2
137.7
79.6
122.4
73.2
636.5
152.5
87.5
114.7
80.1
656.2
121.4
76.7
144.6
99.7
7,986.9
3, 688. 4
203.9
1, 492. 1
9, 768. 2
4, 489. 0
182.7
1, 946. 9
609.7
255.5
8.4
118.6
655.9
291.8
10.2
127.4
762.9
351.2
17.4
137.2
869.8
407.1
18.7
159.1
895.5
398.9
19.8
157.8
889.9
401.8
17.0
161.7
790.7
391.0
15.8
171.0
716.8
388.2
16.4
174.0
845.6
394.9
16.9
179.3
964.8
436.7
13.0
204.3
873.9
383.4
13.2
179.1
892.7
389.0
15.8
171.8
862.5
387.4
12.9
151.4
4, 298. 5
3,711.6
3, 346. 1
1, 207. 8
5, 279. 2
4, 623. 8
4, 127. 6
1,331.1
356.8
307.0
204.4
88.2
364.1
315.0
252.0
86.4
414.9
358.7
316.0
98.2
464.9
408.4
348.1
109.2
497.0
429.2
335.6
112.4
488.1
431.8
365.9
117.6
398.7
334.8
409.7
120.0
328.6
274.5
392.7
108.3
450.7
400.2
393.4
121.5
528.1
473.2
413.9
127.8
490.6
440.9
349.2
113.6
503.6
456.8
346.7
127.8
475.1
420.5
350.3
89.2
U12
U73
i 195
Pll7
pl82
P213
115
150
173
115
202
232
'181
'211
»120
v 196
v 236
1104
1226
1235
*108
p236
P254
106
198
209
106
260
276
107
242
••260
v 111
*>245
»273
194, 482
19, 359
196, 638
19, 922
9,964
580
9,440
739
14, 081
1,787
17,422
2,000
19, 349
2,032
18,093
1,733
18, 014
1,738
18,475
1,800
17, 310
1,694
19,529
1,995
20, 116
1,953
17,845
1,871
thous. sh. tons.. 282, 751
.
_ _ mil. $__ 21, 139
287, 152
21,542
20,680
869
19,909
1,242
20, 826
1,793
24, 724
2,075
24, 844
2,029
22, 636
1,976
24,619
2,044
23.890
1,913
26, 020 "28,395
1,915
2,052
21, 943
1,727
28, 666
1,907
143
143
52
9
6.6
152
150
68
10
8.0
Food and live animals 9
Cocoa or cacao beans
Coffee
Meats and preparations
Sugar
Beverages and tobacco
Crude materials inedible exc. fuels 9
Metal ores
Paper base stocks
Textile
fibers
Rubber
Mineral fuels lubricants, etc
Petroleum and products
Animal and vegetable oils and fats
Chemicals
Manufactured goods 9
Iron and steel
Newsprint
Nonferrous metals
Textiles
Machinery and transport equipment _ __do
Machinery total 9
do
Metalworking
do
Electrical
-do
Transport equipment
do
Automobiles and parts
do
Miscellaneous manufactured articles
do
Commodities not classified
do
Indexes
Exports (U.S. mdse., excl. military grant-aid):
Unit value
do
Quantity
1957-59 — 1 00
Value
do
General imports:
Unit value
do
Quantity
do
Shipping Weight and
Waterborne trade:
Exports (incl. reexports):
Shipping weight
Value
General imports:
Shipping weight
Value
117
Value
thous sh. tons
mil. $.
TRANSPORTATION AND COMMUNICATION
TRANSPORTATION
Air Carriers
Scheduled domestic trunk carriers:
Financial operations (qtrly. total) :
O Derating revenues, total 9
mil. $__
Transport, total 9
do
Passenger
do
Property
do
U.S mail (excl subsidy)
do
Operating expenses (incl depreciation) do
Net income (after taxes)
do
Traffic:
Miles flown (revenue)
mil
Express and freight ton-miles flown do
Mail ton-miles
flown
do
Passengers originated (revenue)
do
Passenger-miles flown (revenue)
bil
Express Operations (qtrly.)
Transportation revenues
Express privilege payments
mil. $..
do
— 15
1,502
1,540
544
111
82.0
1,679
1,713
588
118
90
381.5
86.2
345.3
79.5
132
131
47
9
7.0
119
119
43
8
6.0
125
132
49
10
7.1
137
142
49
10
7.4
141
155
49
10
7.2
84.1
20.9
Local Transit Lines
Fares, average cash rate
cents.
24.0
24.3
24.0
24.0
23.6
Passengers carried (revenue)
mil..
'540
••499
6,310
553
6,491
Motor Carriers (Intercity)
Carriers of property, class I (qtrly. total) :
Number of reporting carriers
21,249
1,326
Operating revenues, total
mil. $..
9,523
2,455
Expenses, total
do
9,047
2,366
Freight carried (revenue)
mil. tons..
523
138
r
Revised.
* Preliminary.
1 Revised to inchide trade in silver 2ore and bullion formerly reported separately; quarterly data do not refl ect this ch ange .
Number of cam ers
filing complete reports for the year.
1,476
1,464
1,310
92
34
1,360
46
1,295
1,284
1,143
84
32
1,282
5,091
5,046
4,488
330
129
4,770
126
141
143
45
11
8.4
147
140
45
11
8.5
147
147
46
12
9.4
87.6
19.4
24.1
'561
24.1
'560
24.1
'513
144
151
45
9
7.1
151
160
51
10
7.0
86.2
20.6
24.2
489
24.3
'479
1,315
2,619
2,492
145
9 Includes d ata not s hown separately.
24.3
'520
87 4
18.6
24.4
'567
24.7
'500
25.2
'528
25.4
505
Feb.
SURVEY OF CURRENT BUSINESS
S-24
Unless otherwise stated in footnotes below, data
through 1968 and descriptive notes are as shown
in the 1969 edition of BUSINESS STATISTICS
1968
1969
1969
Jan.
Annual
March
Feb.
Mar.
Apr.
May
June
1970
1970
July
Aug.
Sept.
Oct.
I
| Nov.
Dec.
Jan.
Feb.
TRANSPORTATION AND COMMUNICATION—Continued
TRANSPORTATION— Continued
Motor Carriers (Intercity) — Continued
Freight carried, volume indexes, class I and II
(ATA):
Common and contract carriers of property
(qtrly )
average same period, 1957-59=100
Common carriers of general freight, seas. adj.
1957-59=100
Carriers of passengers, class I (qtrly.):
Number of reporting carriers
Operating revenues, total
mil. $
Expenses, total.
do._
Passengers carried (revenue)
mil
175
165.7
183
178
173.3
169 0
1
159
685.7
604.8
217.4
172.4
171.0
171.9
173.8
173.3
183
177.8
171.5
178.2
6
*72
72
4
131. 1 66 136. 0
4
129.
6
133.
9
4
41. 8 6 39 1
6 170. 2
6 145. 8
645.0
2 741
2 481
103
2 175
423
142
98
2,916
2,636
111
2,249
455
212
173
2,836
2,546
118
2 274
423
140
98
187.4
184 6
1 344
2 851
200.2
196.5
1.341
3 090
192.0
188.8
1.349
3 390
178.5
172.1
170.5
671
Class I Railroads
Financial operations (qtrly.):
Operating revenues total 9
mil. $ ••210,860 211,451
9,750
Freight
do
444
Passenger
do _
'2 8, 582 29,062
Operating expenses
do
'2 1, 595 2 1, 730
Tax accruals and rents
do
'2683
2659
Net railway operating income
do
5568
Net income (after taxes)
do
Traffic:
Ton-miles of freight (net), revenue and nonrev5
enue (qtrly.)
bil
759. 1
* 744. 5 2 767. 2
Revenue ton-miles
do
1.310
Revenue per ton-mile (qtrly. avg.)
cents
Passengers (revenue) carried 1 mile (qtrly ) mil
13 120
22,958
22,363
2429
2166
2
197. 3 2367 2
2 59 o
Travel
Hotels:
Average sale per occupied room
.dollars
Rooms occupied
%of total..
Restaurant sales index same mo. 1951 = 100
Foreign travel:
U.S. citizens* Arrivals
thous
Departures.
do
Aliens: Arrivals
do
Departures
do
Passports issued
do
National parks, visits
__
do
12.37
59
120
11.80
56
106
11.80
62
119
11.32
63
128
12.80
64
122
12.03
63
138
12.90
61
126
11.59
57
119
13.09
60
118
13.04
60
122
13.66
68
120
12.75
55
112
11.66
44
118
13.22
52
107
5,021
4,820
3,084
2,613
1,748
42, 392
1,820
42, 403
391
354
251
179
104
788
353
363
203
157
122
858
426
424
252
198
167
1,277
460
427
264
212
229
1,906
455
478
306
251
229
2,976
523
695
304
287
267
6,176
671
772
403
315
194
9,291
868
636
415
354
137
9,518
589
450
394
314
107
4,144
440
371
309
274
94
2,826
395
355
256
222
77
1,602
93
1,040
125
15, 068
7,578
5,693
9,020
2,553
95.1
16, 781
8,213
6,506
10, 270
2,798
100.3
4,022
1,993
1,538
2,404
674
96.4
4,153
2 038
1,607
2,512
700
97.4
4,231
2,062
1,645
2,632
691
98.9
4,375
2,120
1,717
2,722
734
100.3
358.2
309.5
391.3
330.8
93.5
78.2
97.8
82.7
95.7
84.8
104.3
85.1
29.6
33.0
9.7
9.7
5.9
7.7
153.4
116 1
180.0
132 6
41.3
30.4
44.7
32 5
45.7
33 2
48.3
36 5
30.6
39 1
9.0
10 4
10.4
9.3
11.35
61
118
153
COMMUNICATION (QTRLY.)
Telephone carriers:
Operating revenues 9 .
mil. $
Station revenues
do
Tolls, message
do
Operating expenses (excluding taxes)
do
Net operating income (after taxes)
do
Phones in service, end of period
mil
Telegraph carriers:
Domestic:
Operating revenues
mil. $
Operating expenses
do
Net operating revenues (before income taxes)
mil. $
International:
Operating revenues
do
Operating expenses
do
Net operating revenues (before income taxes)
mil. $
CHEMICALS AND ALLIED PRODUCTS
CHEMICALS
Inorganic chemicals, production:
Acetylene
_ _
mil cu. ft
Ammonia, synthetic anhydrous, thous. sh. tons
Carbon dioxide, liquid, gas and solid
do
Chlorine, gas (100% Clj)
do
Hydrochloric acid (100% HC1)
do
Nitric acid (100% HNO 3 )
do
Oxygen (high purity)
_ mil. cu. ft
Phosphoric acid (100% PjOs)
thous sh tons
Sodium carbonate (soda ash), synthetic (58%
Na20)
_ _
thous sh tons
Sodium bichromate and chromate
do
Sodium hydroxide (100% NaOH)
do
Sodium silicate, anhydrous. . thous. sh. tons
Sodium sulfate, anhydrous
thous sh tons
Sulfuric acid (100% H2SO«)
do
14,877
14 204
1,272
12, 093. 0 12, 713. 5 887.0
1,047.8 1 096 3 80 0
58,428.4 9, 422. 0
731 8
1, 735. 3
6, 134. 9
248, 250
4 926.2
1 848 6 149 4
6,254 3
500 9
272, 884 21,667
4 917 0 394 0
1 113 1,203
1 151 1 249
1 131 1 153 1 140 1 203 1,242
1 160 1 187
991.2 1,050.2 1 083 3 1 136.8 1 140 9 1,092.8 1,007.1 1 0373 1,097.2 1,060.0 ' 1, 129. 8
'82
6
93.5
79.8
91 6
76 6
86 5
111 1
99 4
98 6
110 4
85 2
811.0 •788.2
845.8
807 4
711 3
768.7
776.5
803 4
786 4
808 6
783 0
147 7
503 5
20 827
380 5
163.8
572.8
23, 030
420 1
159 8
549 5
23,582
447 8
154 0
495 9
21 263
393 0
392 5
4 552 6 4 502 9 333 1 335 5
385 1
383 3
370 2
145.1
12 1
149 4
13 1
13 3
11 3
11 1
12 9
8, 799. 4 9 618 7 760 2
770.8
721 9
815 5
811 5
797 8
632.2
653 8
62.7
56.6
62 8
46 3
52 5
46 5
124 2
*1 471.7 1 471 7 130 2
134 1
133 0
117 8
116 2
'28,382.5 28 744 2 2 317 0 2 238 9 2,405 8 2 509 7 2 559 1 2 337 5 2
r
Revised.
* Preliminary.
1 Number of carriers filing complete reports for the year.
J
Preliminary estimate by
Association of American Railroads.
3 Data cover 5 weeks;
4
other months, 4 weeks.
Figures for 1st quarter 1968 comparable, with data for 1st quarter
1969.
s Annual total reflects revisions not distributed to the monthly or quarterly data.
156 7
541 8
22 808
450 1
155 1
464 5
21 952
345 1
151 0
479 6
23 123
379 7
150 2
519 3
22, 751
410 7
154.3 r!45 7
528.4
540.8
24,022 ••23,984
408 6
438 8
••160.8
' 557. 3
23,885
r
447. 1
1 228
978.8
74.1
784.6
152.4
516.0
22, 572
385.4
323 5
419 8
349 6
368 8 410 4
379 6
374 9
11.3
14 3
11 3
12 2
13 5
12 0
12 4
809.9
793 8 840 1 '821. 2 '858.0
803 4
824 4
37.2
'60.3
63.4
60 9
49 4
41 9
50 5
115.6
120.1
119 7
112 6
130 8 '119 9
113 0
178 3 2 252 5 22804 2 515 2 2, 424. 7 '2,708.5 2, 297. 0
6 Beginning with 1st quarter 1969 reporting period, motor carriers are designated class 1
if they have annual gross operating revenues of $1 million or over; prior to 1969, class 1
carriers were those having annual operating revenues of $200,000 or over.
9 Includes data not shown separately.
S-25
SURVEY OF CURRENT BUSINESS
March 1970
1970
1969
1969
1968
Unless otherwise stated in footnotes below, data
through 1968 and descriptive notes are as shown
in the 1969 edition of BUSINESS STATISTICS
Jan.
Annual
Feb.
Mar.
Apr.
May
June
July
Aug.
Jan.
Sept.
Oct.
Nov.
Dec.
129.5
2.7
10.0
152.1
3.5
10.4
355. 0
13.1
Feb.
CHEMICALS AND ALLIED PRODUCTS—Continued
CHEMICALS— Continued
Organic chemicals, production :d"
Acetic anhydride
Acet vlsalicvlic acid (aspirin)
Creosote oil
mil. l b - _ U,651.6 i 1,748. 0
37.5
31.2
do
111.4 i 107. 9
mil. gal._
141.7
3.5
10.7
140.4
3.1
8.8
145.2
3.4
8.9
147.9
3.5
10.3
147.9
3.6
9.6
143.5
3.6
9.9
140.9
3.2
10.2
144.4
3.0
9.0
129.5
1.7
9.3
134.5
2.9
11.0
mil. lb_. i 162. 0 i 153. 2
do.__. 14,099.6 14,192.8
12.3
321.1
8.9
323.2
18.9
356.1
11.0
349.9
13.3
371.3
15.8
355.7
12.7
320.4
11.4
348.7
7.1
357.8
16.7
381. 7
347.0
29. 5
580.2
i 748. 3
344.1
30. 5
i 624. 8
774.0
28.4
30. 4
51.4
59.8
31.0
31.8
46.5
56.9
27.8
34. 4
50.3
64.2
29.4
31. 9
51.3
70.6
22.2
29. 0
51.2
69.8
28.2
28.9
26.5
31.0
30.3
on r
31.4
51.3
72.7
51.2
65.8
51.7
58.6
54.1
58.2
56.6
61.1
52.5
64.3
mil. tax gaL.
._ _ _ _
__do
__
do
do___
708 1
189.2
564.4
'81.4
738.1
179.7
592.7
85.6
67.5
195.5
57.1
6.7
64.4
196.8
52.7
6.0
65.3
192.4
57.8
7.6
56.4
188.5
46.9
7.1
59.3
183.8
51.2
7.2
58.1
181.6
50.2
7.8
61.9
177.0
51.4
7.7
62.8
178.2
52.4
7.1
62.2
181.4
42. 9
7.4
76.3
176.3
53.2
179. 7
8.4
50.8
177.2
33. 7
6.6
mil. wine gal__
do
303.5
305.6
27
318.5
318.7
24
30.7
30.3
3.1
28. 3
27.7
37
31.0
30. 2
4.5
25.3
26.0
3.9
27.5
27.8
3.5
26.8
28.2
2.1
27.6
27.3
2.4
28.1
27. 9
2.7
23.2
23. 3
2.6
28.3
28. 2
2.7
18.0
18. 1
2.6
23.7
thous. sh. tons__
_do
do
_ __ _ _ _do
18, 956
2,607
13, 584
1,303
16, 599
1,799
12, 229
1,233
961
27
783
107
979
56
771
92
1,304
142
955
69
1,718
162
1, 334
109
1,674
261
1, 179
95
1,750
141
1, 389
125
1,586
210
1, 091
81
1,580
368
1,302
125
1,421
108
1,004
107
1,319
93
1,278
57
141
93
106
93
1?2
78
do
do_ __
_ _ -do. _
do
227
131
3,557
205
233
138
3,829
184
19
9
236
0
20
10
268
11
24
24
354
13
45
30
433
19
29
8
396
9
2
13
7
9
2
16
5
13
14
15
16
19
9
25
16
11
12
5
156
38
15
14
18
6
19
16
4 170
4,803
336
353
560
579
540
195
108
214
325
507
453
634
4,149
535
4,290
448
360
572
351
590
381
502
395
369
398
358
339
411
277
406
316
460
354
440
379
427
347
429
r 393
4
1 581 7
3
1 924 8
Ethyl acetate (85%)
Formaldehyde (37% HCHO)
Glycerin, refined, all grades:
Production _
Stocks, end of period
Methanol synthetic
Phthalic anhydride
do
do
mil. gal
mil. lb.
T
on e
'29.0
30 5
56.4
72.1
r
24.4
27 4
ALCOHOL
Ethyl alcohol and spirits:
Production
Stocks, end of period
Used for denaturation
Taxable withdrawals
Denatured alcohol:
Production
Consumption (withdrawals)
.
50
2.4
FERTILIZERS
Exports, total 9
Nitrogenous materials
Phosphate materials.
Potash materials
Imports:
Ammonium nitrate
Ammonium sulfate.Potassium chloride
Sodium nitrate
_
_
_
Potash deliveries (IvjO)
do
Superphosphate and other phosphatic fertilizers
(100% P a O B ):
Production
thoii"? sh tons
Stocks end of period
do
'448
329
459
MISCELLANEOUS PRODUCTS
Explosives (industrial), shipments, quarterly:
Black blasting powder
mil Ib
Paints, varnish, and lacquer, factory shipments:
Total shipments
mil $
Trade products
do
Industrial
finishes
do
Sulfur, native (Frasch) and recovered:
Stocks (producers') end of period
do
.1
423 6
(2)
496 6
.1
492 2
.1
512.4
229.9
118.8
111.1
245.2
131.9
113 3
256 8
143.6
113 3
278.0
163.0
115.1
254.3
145.2
109.1
261.7
149.3
112.4
253.4
133.7
119.7
234.4
119.1
115. 3
186.2
91.6
94.6
179.9
85.0
95.0
3 006
744
3,129
710
3 150
723
3 134
715
3,213
681
3 221
655
3,278
694
3 294
715
3,306
755
3,401
746
3,461
50
52
88
69
52.7
58.8
96 5
70 6
55
59
96
66
57
62
97
65
55.3
50.8
95 9
66 4
53 9
51.1
81 3
55 5
51.9
51.5
91 2
61.9
51.8
54.7
97 4
64.0
61.6
58.7
106 7
69. 9
43.1
54.4
91 0
65. 1
43.8
55.6
87 9
55.7
2,586.8 2 776. 7
1, 427. 5 1,473.5
1 159 3 1 303. 5
189.8
86.2
103.6
207.1
106.1
101 0
i g gi7
2 790
8 564
3 461
r 743
2 940
628 8
667 4
193 g
770 5
51
50
87
60
r ggl
178.1
85.3
92.8
PLASTICS AND RESIN MATERIALS
Production:
Therm osetting resins:
Alkyd resins
Polyester resins
mil Ib
do
Urea and melamine resins
do
Thermoplastic resins:
Cellulose plastic materials
do
Coumarone-indene and petroleum polymer
resins
mil Ib
Styrene-type materials (polystyrene)
do
Vinyl resins (resin content basis)
do
Polyethylene
do
i 624 7 i
i 576 4 i
i 1 038 4 i ]
i 741 4 i
* 186 2
i 192 6
i 332 6 i 332 6
12 719 3 13 251 6
i 9 944 g 3 585 3
1 4 539 1 15 440 7
4
1
8
3
18 4
25
239
254
392
5
3
0
8
3
0
9
5
17 2
21
247
246
412
1
g
6
2
17 2
28 8
273 0
281 5
433.4
8
4
2
9
16 5
27
272
270
437
9
2
4
1
9
5
8
7
16 3
29
285
287
441
6
9
4
9
14 8
13.0
15.0
15.6
14.8
15.5
14.0
31.2
281 9
284 1
435. 8
25.9
260 8
262 3
450.1
28.5
263 9
269 5
474. 1
26.6
272 4
285 4
480.3
32.0
279 0
393 6
492. 3
29.4
276 9
T 311 5
486.6
20.5
280.2
311 5
497. 7
ELECTRIC POWER AND GAS
ELECTRIC POWER
Production (utility and industrial), totalf
mil. kw.-hr__ 1,436,029 1, 552, 299 131,591 117, 665 126, 035 117,115 123, 232 129, 765 143, 951 142, 630 128, 515 129, 414 125, 601 136, 786
Electric utilities, total .
By fuels
By waterpower
_
Privately arid municipally owned util
Other producers (publicly owned)
Industrial establishments, total.
B y fuels.. _ _ _ _ _
_
By waterpower
r
1
2
do
do
do
1,329,443 1, 441, 939 122, 463 109, 110 116, 679 107, 974 113, 880 120, 455 134, 789 133,319 119, 469 119, 980 116, 465 127,357
1,106,952 1,191,861 101, 050 88, 023 95, 159 85, 863 90, 845 99, 497 113, 766 112,485 101, 164 101, 040 96, 941 106, 027
222, 491 250, 078 21,413 21, 087 21,519 22, 111 23, 035 20, 957 21, 023 20, 834 18, 304 18, 940 19, 524 21,330
do
do
1,083,117 1,171,693 99, 163
246, 326
270, 247 23, 300
do
do
do
106, 586
103, 203
3,383
110, 360
107, 076
3,283
9,128
8,860
267
Revised.
Revised annual total; revisions are not distributed to the monthly data.
Less than 50 thousand pounds.
87, 944
21, 166
94, 008
22, 670
87, 372
20, 602
91,836
22, 044
8,554
8,290
265
9,356
9,063
293
9,141
8,842
300
9, 352
9, 044
308
97, 935 109, 560 108, 870
22, 519 25, 229 24, 449
97, 968
21, 501
98, 711
21, 269
9,311
9,050
261
9,046
8,813
233
9,434
9, 184
250
9,310
9,020
289
9,162
8,896
266
94, 736 103, 589
21, 729 23, 768
9,137
8, 869
267
9, 429
9, 144
285
o*Data are reported on the basis of 100 percent content of the specified material unless
otherwise indicated.
9 Includes data not shown separately.
| Re vised data for the months of 1968 will be shown later.
S-26
SURVEY OF CURRENT BUSINESS
1968
Unless otherwise stated in footnotes below, data
through 1968 and descriptive notes are as shown
in the 1969 edition of BUSINESS STATISTICS
1969
Annual
March mo
1969
Jan.
Feb.
Mar.
Apr.
May
June
1970
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
ELECTRIC POWER AND GAS—Continued
ELECTRIC POWER— Continued
Sales to ultimate customers, total (EEI) mil.kw.-hr. 1,202,321 1,307,178 109, 412 105, 894 105, 614 102, 255 100, 883 105, 615 113, 510 118, 124 117, 375 110, 128 106, 862 111, 506
Cornmercial and industrial:
1265,151 286, 686 22, 533 22, 009 21, 852 21, 502 22, 016 24, 145 26, 473 27, 370 27, 282 24, 619 23, 232 23, 651
Small light and power§
do
i 518,834 557, 221 44, 410 43, 557 44, 988 45, 344 46, 251 47, 157 46, 547 48, 022 48, 257 48, 418 47, 080 47, 190
Large light and power §
do
Railways and railroads
Residential or domestic
Street and highway lighting
Other public authorities
Interdepartmental
do
do
do
do
do
1 4, 540
1367,692
1 10, 302
1 32, 162
1 3, 640
4,531
407, 922
10, 772
35, 861
4,186
431
37, 778
995
2,953
312
401
35, 650
925
3,048
303
421
34, 244
905
2,891
314
366
31, 057
850
2,823
313
360
28, 231
816
2,859
350
328
29, 859
794
2,976
356
348
35, 934
809
3,016
384
348
38, 103
821
3,073
385
341
37, 149
878
3,078
391
365
32, 335
948
3,075
369
379
31, 823
988
3,007
352
443
35, 759
1,044
3,063
357
Revenue from sales to ultimate customers (Edison
Electric Institute)
mil $ 18, 579. 9 20, 139. 3 1,664.1 1, 624. 1 1, 605. 0 1, 566. 7 1, 554. 1 1,632.3 1, 762. 3 1, 830. 9 1, 825. 1 1, 705. 8 1, 653. 8 1,715.1
GAS
Manufactured and mixed gas:
580
543
36
581
544
36
mil. therms..
do
do
1 1, 482
1832
i 626
607
374
222
Revenue from sales to consumers, total 9 -mil. $__
Residential
do
Industrial and commercial
do
1 129. 0
181 8
*46 2
51.3
34.1
16.3
::::"" ::::::::i 17.4
io:?
39, 894
36, 619
3 227
39, 974
36, 692
3,234
39, 846
36, 622
3,178
mil. therms.. 1143,222
144 682
do
1 92, 369
do
50, 357
21,623
27, 170
35, 251
9,534
24, 465
Revenue from sales to consumers, total 9-.mil. $_. 18,646.7
Residential
do
1 4, 482.4
13,943.1
Industrial and commercial
do
3, 399. 1
j 2. 002. 6
! 1,331. 5
1
2, 072. 9
1,014.0
1. 013. 8
Residential
Industrial and commercial
Sales to consumers, total 9
Residential
Industrial and commercial
do
do
Natural gas:
Customers, end of period, total 9
Residential
Industrial and commercial
Sales to consumers, total 9
Residential
Industrial and commercial
thous..
do
do
576
539
35
::::::::
325
171
147
28 6
........
"
i
FOOD AND KINDRED PRODUCTS; TOBACCO
ALCOHOLIC BEVERAGES
Beer:
Production
mil. bbl__ 122. 41
127. 32
Taxable withdrawals
do
116.27
112.41
Stocks, end of period _ _
do
11.90
11.56
Distilled spirits (total):
Production.
_
mil. tax gal
238. 33
229. 36
Consumption, apparent, for beverage purposes
mil. wine gal__ '1344.07 i 361. 67
Taxable withdrawals
mil. tax gal__ 147. 62
164. 54
Stocks, end of period
do
956. 44
991. 42
Imports
mil. proof gal 75.45
87.08
Whisky:
Production
mil tax gal
178. 05
169. 87
Taxable withdrawals
_
do
95.27
108. 00
Stocks, end of period _
do
904. 35
938. 46
Imports
mil. proof gal-74. 29
66.50
Rectified spirits and wines, production, total
mil. proof gaL- ' 110. 58 115. 58
Whisky
do
66.71
68.02
Wines and distilling materials:
Effervescent wines:
Production. _ _
mil wine gal
12 17
15.80
Taxable withdrawals.. _ . _ _
do
10.29
13.70
Stocks, end of period _
do
5.25
6.19
Imports. _ _
do
2 23
2.41
Still wines:
Production
_
do
222. 89
277. 82
Taxable withdrawals
...
do
197.21
181. 12
Stocks, end of period.
do
' 268. 28 306. 36
Imports
do
22. 28
19.98
8.99
7.88
11.91
8.82
7.66
12.33
10.98
9.40
13.00
11.43
10.06
13.37
11.28
10.25
13.36
10.17
9.15
13.57
13.09
11.96
13.55
11.98
11.44
13.12
11.61
10.80
13.05
10.81
10.14
12.81
8.54
8.28
12.38
9.62
9.24
11.90
21.06
19.69
21.97
21.66
18.84
17.79
15.17
12.01
17.70
22.75
19.84
20.87
24.31
11.31
962. 90
5.59
24.25
10.87
968. 43
4.67
28.79
13.99
973. 27
6.02
28.79
13.35
978. 71
6.48
30.80
12.93
981. 91
6.67
30.46
14.51
984. 51
6.94
29.59
14.31
983. 82
6.83
28.41
13.90
979. 91
5.81
27.79
15.19
979. 24
6.73
33.03
17.82
981. 02
11.47
33.66
14.17
983. 86
9.03
42.64
12.19
991.42
10.84
5.66
17.01
7.39
911.26
4.87
16.10
7.44
917.26
4.16
17.10
9.22
921.92
5.37
17.25
8.84
927. 80
5.51
14.37
7.86
932. 30
5.75
12.07
9.05
933. 75
ti.03
10.65
9.02
934. 02
6.02
7.71
8.38
931. 47
5.10
12.22
10.14
930. 50
5.89
16.03
12.80
930. 93
10.29
14.00
9.80
932. 35
7.97
15.36
8.06
938. 46
7.30
4.67
8.67
4.84
8.26
5.17
10.39
6.17
9.74
5.60
9.95
5.49
11.00
6.57
10.38
6.52
9.09
5.27
10.04
5.87
11.90
7.10
8.99
5.15
8.17
4.27
1.23
1.12
1.05
.56
6.23
6.10
.13
.10
2 93
3.75
is! 28 20.06
242. 63 224. 83
1.19
.84
1.17
.77
6.51
.18
1.04
.87
6.51
.22
1.25
1.12
6.56
.24
.96
.73
6.70
.17
1.40
1.19
6.77
.14
1.16
1.30
6.65
.15
1.70
1.83
6.40
.31
1.67
1.55
6.45
.29
1.97
2.04
6.19
.27
.11
2.92
15.89
211.75
1.91
2.48
15.59
197. 08
2.34
2.49
16.03
180. 78
2.31
1.99
12.86
169. 98
2.01
8.03
16.88
158. 76
1.71
57.81
16.46
193. 87
1.75
126. 45
19.31
293. 13
2.33
55. 85
16.01
326. 97
2.50
9.49
17.90
306. 36
2.65
1.76
1.13
.70
5.60
.18
3.63
14.95
255. 91
.75
372. 49
403. 31
7.15
4.11
4.69
2.16
3.00
2.13
2.74
19.67
118. 03
161. 97
52.16
25.52
mil Ib
1, 164. 8
do
117.4
$ per lb__
.678
1, 120. 2
88.6
.686
106.6
104. 5
.674
95.7
115.1
.673
104.7
121.4
.673
109.6
134.5
.683
116.1
162.6
.684
111.1
195.3
.684
93.5
198.0
.686
77.2
185.6
.688
67.6
155.3
.704
75.9
125.2
.693
72.2
104.3
.687
90.1
88.6
.696
101.5
'77.4
.686
1, 943. 9 2, 002. 8
1, 276. 3 1,287.3
147.4
90.7
139.7
87.3
163.2
101.3
174.2
113.2
197.6
135.6
201.8
140.6
181.0
124.1
170.0
111.8
156.4
98.4
155.8
94.8
149.3
88.2
166.2
101.3
167.4
107.2
317.5
265.4
130.0
357.7
296.4
4.5
328.5
271.1
5.9
317.8
263.0
10.7
315.7
259.5
12.9
337.5
280.7
13.2
367.4
308.3
12.0
387.8
327.1
10.0
387.4
327.1
9.6
369.5
309.0
12.5
350.9
294.6
14.3
328.7
274.8
3.9
317.5
265.4
20.8
Distilling materials produced at wineries. _ _ d o
DAIRY PRODUCTS
Butter, creamery:
Production (factory)
Stocks, cold storage, end of period
Price, wholesale, 92-score (N.Y.)
Cheese:
Production (factory), total .
American, whole milk
_
mil. Ib
do
Stocks, cold storage, end of period
do
American, whole milk _ _
_
do
Imports.
do
Price, wholesale, American, single daisies (Chicago).. _
$ per lb._
r
Revised.
1 Annual total reflects
quarterly data.
revisions ilot
381.0
318.7
168.2
.603
.548
distr buted t o
.572
.572
.587
the ]nonthly or
81.4
.687
' 298. 0 285.6
249. 6 238.3
10.9
r
.603
.594
.606
.621
.606
.595
.659
.608
.630
.636
.647
§ Dat a are not wholly c omparal )le on a > ear to ye ar basis because <}f change s from orle classificatio n to anot her.
? Includ es data n ot showri separat ely.
SURVEY OF CURRENT BUSINESS
March 1970
1968
Unless otherwise stated in footnotes below, data
through 1968 and descriptive notes are as shown
in the 1969 edition of BUSINESS STATISTICS
1969
1969
Annual
S-27
Jan.
Feb.
Mar.
Apr.
May
June
1970
Aug.
July
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
FOOD AND KINDRED PRODUCTS; TOBACCO—Continued
DAIRY PRODUCTS— Continued
Condensed and evaporated milk:
Production, case goods:
Condensed (sweetened)
mil. Ib
Evaporated (unsweetened)
_
_ _ do
Stocks, manufacturers', case goods, end of period:
Condensed (sweetened)
mil. Ib
Evaporated (unsweetened)
_ _ _ do
Exports:
87.4
1,360.0
80.1
1,405.5
3.5
96.0
4.8
97.0
6.1
109.1
7.8
135.7
9.2
157.5
6.1
147.5
6.2
6.8
139.7
136.0
2.1
99.1
1.9
104.7
2.6
56.9
3.9
39.3
3.5
53.7
2.9
83.5
4.7
124.4
3.9
151.6
188. 9
211.2
42.4
33.7
Evaporated (unsweetened)
do__.
Price, manufacturers' average selling:
7.26
Evaporated (unsweetened)
_ $ per case
Fluid milk:
Production on farms
mil. Ib -117,234
58, 164
Utilization in mfd. dairy products
do_ _
5.24
Price, wholesale, U.S. average
$ per 100 lb_.
Dry milk:
Production:
94.2
Dry whole milk
mil. Ib
1,604.4
Nonfat dry milk (human food)
_ _ do
Stocks, manufacturers', end of period:
7.6
Dry whole milk
_ _
do
'79.0
Nonfat dry milk (human food)
do. .
Exports:
18.6
Dry whole milk
do
151.0
Nonfat dry milk (human food)
_do__ .
Price, manufacturers' average selling, nonfat dry
.224
milk (human food)
$ per lb._
52.1
37.1
.9
3.7
.9
2.9
3.5
4.0
4.5
2.2
7.4
2.9
6. 1
2.4
4.5
4.2
7.50
7.40
7.42
7.45
7.50
7.50
7.51
7.51
116,200
58, 335
5.46
-9,411
4,604
5.53
- 8, 782
4,388
5.45
r 9, 960
5,023
5.35
-10, 265 -11,034
5, 997
5, 392
5.23
5.15
-10, 759
6,025
5.08
plO,142
5,480
5.21
74.8
1,450.8
6.1
118.3
5.4
112.8
6.6
131.0
4.6
146.2
10.9
176.2
8.4
178.5
6.4
141.2
5.7
85.4
8.2
72.6
7.5
68.5
6.2
63.9
4.9
75.2
6.8
108.0
8.0
137.1
149.1
150. 9
15.6
111.6
.8
3.5
1.3
8.9
1.6
13.9
2.3
19.4
1.6
5.2
1.6
13.2
1.3
9.7
.235
.235
.234
.235
.235
.234
.235
1, 267. 4
1,058.9
18.4
33.4
91.9
95.6
107.6
92.0
i 423
371
247
123
17
0
6
7
9
8
i 417 2
419 3
258. 0
161 4
8 3
1
1
$ per bu
do
1.18
1.18
1.12
1.12
1.18
1.19
1.17
1.18
mil bu
i 4 393
2.9
8.4
103.0
8.9
94.8
7.0
82 2
53
107.0
2 8
97.0
3.0
194.6
3.0
147.7
2.2
113.6
19
104.7
5.7
90. 9
4.0
2.0
8.2
2.8
69
4.2
4 4
3.4
6
2.4
2.3
7.51
7.51
7.53
7.59
7 62
7.75
9, 138 - 8, 691
3,748
4,155
5.88
5.80
9 170
4 395
5.86
9 412
4,685
-5.81
3.9
- 9, 673 - 9, 165
4, 902
4,226
5.34
5.62
5.0
111.1
r
4.8
83.0
5.5
79.0
5 3
74.3
58
99 2
61
102 5
7.1
130.4
6.7
108.3
5 6
92 0
5 7
85 4
58
81 1
1.4
5.0
1.3
6.4
1.2
8.8
5
10.4
7
7 4
15
25 7
.234
.234
.236
.236
.237
-.237
.238
99.5
90.3
102.2
103 7
193 6
100 8
97 5
9.0
8.2
8 840
5.72
GRAIN AND GRAIN PRODUCTS
Exports (barley, corn, oats rye, wheat)
Barley:
Production (crop estimate)
Shocks (domestic) end of period
On farms
Off farms
Prices, wholesale (Minneapolis):
No. 2, malting
No. 3, straight
Corn:
Production (crop estimate grain only)
.mil. bu
do
do
do
do
4 233
3 276
957
594 0
Stocks (domestic) end of period total mil bu
On farms
do
Off farms
do
Exports, including meal and
flour
do
Prices, wholesale:
No. 3, yellow (Chicago)
$ per b u _ _
Weighted avg., 5 markets, all grades _ _ _ d o . _ _
Oats:
Production (crop estimate)
Stocks (domestic), end of period, total
On farms
Off farms
1
Exports, including oatmeal _ _ _
do
Price, wholesale, No. 2, white (Chicago)
$ per bu
939
784
661
193
1.21
1.19
1
11.6
3
79
1.16
1.17
197
2114
2
84
1
17
1.19
1.19
1.13
1 14
47 9
2, 068
1,487
- 581
43.5
51.3
1.30
1.28
1.30
1.28
• 1.27
1.22
do
do
do
4
3 041
9 904
31
1.18
1.16
16. 5
1.16
1.15
950
884
723
161
817
49.8
1.15
1.15
38.6
1.20
1.21
7
3
1.08
1.08
1.08
1.07
1.08
1.07
1.06
1.06
40.2
1.22
1.19
21 113
54.8
385
64 5
55.3
79.6
4,313
3,322
992
48.6
1.28
1.22
1.19
1.15
1.16
1.17
1.15
1.12
1.15
1.12
r2728
2
2375
275
552
443
109
.1
1.06
1.06
830
194
.5
.4
.8
.9
1.2
.3
.5
.7
.7
.67
.74
.75
.68
69
.69
.64
.63
.61
.62
1.23
1.22
884
723
161
1 023
2
2100
7.5
4
.4
.3
.71
2,012
1,515
221
179
272
289
286
214
225
235
118
151
67
79
96
88
67
43
209
87
336
59
36
44
79
47
63
60
87
67
312
270
298
229
245
197
125
93
71
73
127
284
266
270
250
241
6 136
139
212
146
188
153
313
283
4.9^
r ro
200
544
205
464
347
333
i fi^fi
914
400
1 687
538
602
450
424
461
326
406
1 903
135
085
1 81?
263
085
1 713
245
085
1 ^OQ
492
1 178
'408
nor
858
629
085
476
372
084
681
291
084
1 410
'254
1 894
375
086
1 862
349
086
1,508
235
no r
1 695
362
noc
1.20
1.21
20.0
1.23
1.23
1.24
216.0
1.22
1.17
1.06
38.3
1.07
1.12
1.13
29.6
1.14
1.15
7 ftftfi
4 774.
4
2 013
4 163
1 695
4 174
01 Q
087
1
23 4
24.3
1.14
1 1 576
i 342
l 235
r i 443
l
i 31 4
29.6
1.17
1 1 459
1311
1
1 148
1 280
294
-234
1 527
1,111
1,346
581
608
463
764
919
649
«- Revised.
i Crop estimate for the year.
2 old crop only; new crop not reported
until
3
beginning of new crop year (July for4barley, oats, rye, and wheat; Oct. for corn).
Average
or 11 months; no price for Nov.
Average for Jan.-Sept.
A
1.06
1.06
2,020
1,376
Rye:
Production (crop estimate)
mil. bu
Stocks (domestic), end of period
_ do
Price, wholesale, No. 2 ( Minneapolis).. $ per bu_.
Stocks (domestic), end of period, total
On farms
.
Off farms
1.00
1.00
H17. 2
419. 3
258.0
161.4
i 9i 3
do
$ per Ib
mil bu
do
do
do
1 09
1 09
497 4
306 6
190 8
1 104 i
Shinrnpn'ts fro ' '11
'11 rl
H
Stocks, domestic, rough and cleaned (cleaned
Wheat:
Production (crop estimate), total
Spring wheat. _
Winter wheat
Distribution
1
2 4
1.16
1. 17
Southern States mills (Ark., La., Tenn., Tex.):
Exports.. __ _
Price wholesale Nato No 2 (N O )
5
9
6
'\
4 578
4 313
3 322
992
553.4
1.11
1.11
mil bu
do
do
do
Rice:
Production (crop estimate)
mil bags 9
California mills:
Receipts, domestic, rough
mil. Ib
Shipments from mills, milled rice
do
Stocks, rough and cleaned (cleaned basis), end
of period
_
._.
mil. Ib
1
2
282 8
183.8
99 0
2
819
2 328
2491
§ Excludes pearl barley.
r
407
345
1 871
751
1,119
9 Bags of 100 Ibs.
1,527
608
919
1.16
SURVEY OF CURRENT BUSINESS
S-28
Unless otherwise stated in footnotes below, data
through 1968 and descriptive notes are as shown
in the 1969 edition of BUSINESS STATISTICS
1968
1969
Annual
March 1970
1969
Jan.
Feb.
Mar.
Apr.
May
June
1970
Aug.
July
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
FOOD AND KINDRED PRODUCTS; TOBACCO— Continued
GRAIN AND GRAIN PRODUCTS— Con.
Wheat— Continued
Exports, total, including
Wheat only
flour
_ mil. bu
do
Prices, wholesale:
No. 1, dark northern spring (Minneapolis)
$ per bu_.
No. 2, hd. and dk. hd. winter (Kans. City) .do
Weighted avg., 6 markets, all grades
do
642.1
587.8
488.8
440.0
14.7
13.9
16.5
15.1
40.7
37.4
53.3
48.8
56.8
51.2
46.6
39.5
47.4
41.8
34.5
32.4
36.5
32.9
47.0
40.6
43.2
38.4
51.6
48.1
56.9
51.7
1.79
1.52
1.77
1.80
1.48
1.75
1.78
1.52
1.82
1.81
1.48
1.83
1.79
1.52
1.81
1.77
1.53
1.78
1.78
1.48
1.76
1.77
1.45
1.70
1.81
1.34
1.65
1.73
1.44
1.66
1.79
1.48
1.72
1.82
1.53
1.75
1.83
1.52
1.76
1.88
1.52
1.78
1.86
1.53
1.75
20, 342
362
45, 888
18, 974
335
42, 038
20,625
364
46,121
20, 307
356
45, 631
21,217
373
47, 623
20, 758
365
46, 457
19, 620
345
44,119
21, 455
377
47, 974
22, 201
387
49, 519
23, 351
407
51, 894
22,170 ' 23, 068
385
r402
49, 344 '51,348
22, 189
381
49, 043
371
609
4,489
1,433
2,096
2,387
4,324
3,033
2,429
919
4,391
1,534
2,752
2,052
4,595
1,499
2,230
5.888
5.400
5.838
5.375
5.863
5.350
5.838
5.338
5.875
5.388
5.888
5.463
6.013
5.588
6.025
5.488
5.913
5.413
5.950
5.488
5.988
5.475
Wheat flour:
Production:
254, 185 254. 009
Flour
thous. sacks (100 Ib )
4,510
Offal
thous sh tons
4,456
569, 649 567, 676
Grindings of wheat
thous. bu
Stocks held by mills, end of period
thous. sacks (100 lb.)..
4,638
4,595
Exports
do
23, 264
21, 144
Prices, wholesale:
Spring, standard patent (Minneapolis)
5.927
SperlOOlb..
Winter, hard, 95% patent (Kans. City)._do
5.449
1.93
1.53
1.72
LIVESTOCK
Cattle and calves:
Slaughter (federally inspected):
Calves
thous animals
Cattle
do
Receipts at 38 public markets
do
Prices, wholesale:
Beef steers (Chicago) __
$ per 100 Ib
Steers, stocker and feeder (Kansas City) ..do
Calves, vealers (Natl Stockyards 111 ) do
3,876
29, 592
i 11,699
3,637
30, 536
112,716
364
2,676
' 1, 058
317
2,356
905
352
2,423
1,019
312
2,414
1,022
271
2,466
961
248
2,434
1,007
282
2,611
946
271
2,608
957
308
2,724
1,203
329
2,887
1,380
281
2,368
1,130
'302
2,568
1,052
290
2,653
965
850
27.65
25 90
33.83
30.52
29.46
29.10
26.60
37.50
28.97
27.22
40.50
30.20
28.69
40.50
30.98
30.28
40.00
33.76
32.40
40.50
34.20
33.17
39.00
31.57
29.87
35.00
30.97
29.20
34.00
29.85
28.37
34.00
29.10
28.81
34.00
28.71
29.30
35.00
28.86
29.55
29.25
29.44
30.25
31.31
6,814
1,460
6,245
1,278
6,816
1,363
6,852
1,429
6,045
1,307
5,591
1,228
5,739
1,204
5,708
1,095
6,611
1,266
7,100
1,374
5,825
1,146
6,344
1,276
6,170
1,166
1,003
18.94
19.68
20.41
20.23
22.71
24.35
24.90
27.11
25.42
25.33
25.05
25.94
26.50
27.59
17.2
18.0
18.3
17.5
18.7
20.3
21.1
22.0
21.6
22.1
23.4
23.6
23.5
24.0
Hogs:
Slaughter (federally inspected). .-thous. animals.. 74, 789 75, 690
Receipts at 38 public markets
_
do
i 15,932 U5,415
Prices:
Wholesale, average, all grades (Chicago)
$ per 100 lb.. 18.65
23.09
Hog- corn price ratio (bu. of corn equal in value
to 100 lb. live hog)
._>
18.0
20.3
Sheep and lambs:
Slaughter (federally inspected).., thous. animals..
Receipts at 38 public markets
do
Price, wholesale, lambs, average (Chicago)
$perl001b..
10, 888
i 2, 934
10, 067
i 2, 704
1,007
214
768
179
814
176
839
183
835
192
810
250
822
252
797
230
915
291
931
303
730
218
798
213
855
193
139
26.02
28.35
26.50
27.50
29.25
30.75
32.25
29.75
29.25
26.75
26.00
27.25
27.75
27.25
28.00
28.00
32, 714
33, 373
2,965
2,628
2,765
2,788
2,692
2,602
2,705
2,650
2,917
3,170
2,617
2,872
2,892
625
508
1,594
637
571
1,685
597
29
65
601
35
88
617
57
198
678
54
149
633
62
134
556
45
139
513
46
163
513
40
188
550
47
174
612
62
165
635
51
100
637
43
122
'659
31
173
18, 270
304
29
1,129
18,874
363
28
1,194
1,658
288
2
51
1,461
278
2
59
1,490
282
3
140
1,492
275
2
99
1,520
253
3
85
1,499
238
2
99
1,591
246
2
118
1,570
273
2
148
1,678
311
2
131
1,805
342
2
120
1,478
343
2
62
1,632
363
2
81
1,696
'378
3
135
MEATS AND LARD
Total meats:
Production (carcass weight, leaf lard in) , inspected
slaughter
mil lb
Stocks (excluding lard), cold storage, end of
period _ _ _
mil. lb
Exports (meat and meat preparations)
do
Imports (meat and meat preparations) . do
Beef and veal:
Production, inspected slaughter
do
Stocks, cold storage, end of period
. do
Exports __
do
Imports
do
Price, wholesale, beef, fresh, steer carcasses, choice
(600-700 Ibs.) (New York)
$perlb..
Lamb and mutton:
Production, inspected slaughter
mil. lb_.
Stocks, cold storage, end of period.
do
Pork (including lard), production, inspected
slaughter
mil lb
Pork (excluding lard):
Production, inspected slaughter
do
Stocks, cold storage, end of period
. d o __
Exports
do
Imports..
do
Prices, wholesale:
Hams, smoked composite
$ per lb
Fresh loins, 8-14 lb. average (New York) ..do
Lard:
Production, inspected slaughter
mil. lb_.
Stocks, dry and cold storage, end of period.. do
Exports
do
Price, wholesale, refined (Chicago)
$ perlb_.
721
399
.492
.474
.465
.484
.501
.546
.556
.521
.498
.478
.459
.457
.468
.488
.487
545
14
510
16
52
10
40
9
43
12
43
17
43
16
40
13
40
12
38
15
45
16
47
17
37
17
42
16
45
'17
16
.473
2
13, 899
13, 989
1,255
1,127
1,233
1,253
1,130
1,064
1,074
1,041
1,195
1,318
1,102
1,199
1,151
11,330
256
92
324
11, 565
211
152
316
1,033
251
14
10
938
264
16
21
1,026
270
12
39
1,042
324
10
33
935
299
23
33
877
246
13
28
880
196
8
29
860
168
7
21
982
174
11
24
1,089
202
20
27
906
221
13
23
998
211
5
27
951
'210
4
19
241
.537
.509
.575
.547
.531
.517
.507
.559
.476
.522
.495
.536
.572
.572
.614
.572
.631
.614
.609
.592
.616
.625
.608
.628
.622
.614
.657
.626
160
92
12
.130
138
97
14
.133
149
92
29
.144
152
93
11
.133
142
80
39
.130
135
76
15
.131
141
62
11
.139
131
55
23
.150
154
56
22
.148
167
58
30
.165
142
48
42
.170
145
'70
13
144
64
25
POULTRY AND EGGS
Poultry:
Slaughter (commercial production)
mil lb
631
i 9, 492
726
567
8,915
Stocks, cold storage (frozen), end of period, total
307
394
287
351
417
mil. lb.
Turkeys
. . .
do
192
294
201
255
317
Price, in Georgia producing area, live broilers
.140
.130
.135
.145
$perlb._
.131
r
Revised.
1
Annual total reflects revisions not distributed to the months; datei for 1968 represe nt
661
724
783
842
897
949
1,048
812
840
706
239
155
207
123
200
119
248
163
324
237
423
329
539
436
390
284
307
192
'272
'162
.135
.145
.145
.170
1,862
94
172
.112
1,755
70
261
receipt s at 28 piiblic ma rkets.
I.C.I. t>£isis as pr eviously
2
244
131
.135
.140
.145
.155
.130
.130
.120
Beginn ing Jan. 1969, qu otations are on c arlot ratller than
March 1970
SURVEY OF CURRENT BUSINESS
Unless otherwise stated in footnotes below, data
through 1968 and descriptive notes are as shown
in the 1969 edition of BUSINESS STATISTICS
1968
1970
1969
1969
Jan.
Annual
S-29
Feb.
Mar.
Apr.
i
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
FOOD AND KINDRED PRODUCTS; TOBACCO— Continued
POULTRY AND EGGS— Continued
Eggs:
Production on farms
mil. casesO-.
Stocks ,cold storage, end of period:
Shell
_ _.thous. casesO
Frozen.
mil Ib
Price, wholesale, large (delivered; Chicago)
$ per doz.-
' 192. 5
191.5
15.9
14.7
'16.7
16.3
16.9
16.0
' 16.1
r
15. 9
r 15.3
15.9
-•15.6
16.3
16.3
14.8
45
55
64
50
51
43
'46
'41
80
39
59
72
51
43
56
61
71
56
52
52
173
50
237
53
300
61
213
66
120
64
85
56
.372
.460
.485
.413
.445
.404
.334
.351
.471
.433
.488
.471
.595
.627
.610
.515
Cocoa (cacao) beans:
Imports (incl. shells)
thous. Ig. tons.
Price, wholesale, Accra (New York)
$ per lb._
228.2
.344
218.4
.456
2.0
.433
23.4
.436
27.2
.460
14.3
.455
20.7
.443
15.4
.456
r 25.5
21.6
.469
6.3
.444
12.5
.461
18.8
'.500
30.7
.463
36.8
.393
.345
Coffee (green):
Inventories (roasters', importers', dealers'), end
of period
thous. bagsd"-Roastings (green weight)
do
5,076
21, 165
3,811
20, 851
MISCELLANEOUS FOOD PRODUCTS
20, 232
Imports total
do
25, 377
From Brazil
do
5,780
8,318
Price, wholesale, Santos, No. 4 (N.Y.)_.$ per lb__
.376
Confectionery, manufacturers' sales
mil. $_. 1,705 ~~~i,~758~
Fish:
Stocks, cold storage, end of period
.478
3,811
3.361
3,389
5.080
3,249
5,370
363
135
.375
146
1,111
345
.375
156
2,015
654
.383
152
2,195
643
.380
135
1,664
478
.378
118
1,747
563
.375
115
1,714
529
.375
106
1,476
329
.390
131
1,778
459
.410
193
2,327
539
.478
187
2,167
706
.490
173
1,675
400
1,783
482
146
...mil. lb_.
285
275
248
219
194
188
191
201
230
253
268
282
269
275
'256
Sugar (United States):
Deliveries and supply (raw basis) :§
Production and receipts:
Production
thous. sh. tons_Entries from off-shore total 9
do
Hawaii and Puerto Rico
.._ do
4,396
6,680
1,707
4,298
6,352
1,502
690
2,034
35
381
46
46
70
98
99
116
174
145
137
370
192
95
524
148
77
548
102
95
601
171
153
576
235
653
538
144
1,036
404
141
795
438
43
935
41
10, 804
11, 089
' 10, 927 10, 655
2,796
2,961
704
692
3,151
620
611
3,146
919
903
2,737
834
818
2,698
933
918
2,580
976
965
2,396
1,019
1,008
2,164
1,058
1,077
1,698
1,077
1,062
1,396
928
814
1,625
806
798
2,307
929
919
r 2, 796
p 2, 838
68
133
Deliveries total 9
For domestic consumption
Stocks raw and ref end of period
do
do
do
94
102
76
163
85
46
38
69
57
120
50
4,776
1,024
124
45
0
1
264
96
0)
371
91
22
486
140
1
438
58
2
538
-•153
2
577
124
7
416
95
13
328
71
6
423
42
0)
385
23
2
'506
130
67
289
165
361
.075
.078
.077
.077
.078
.078
.078
.078
.075
.078
.078
.079
.078
.078
.081
.624
.101
.638
.628
.103
.630
.103
.631
.103
.629
.105
.632
.107
.642
.107
.641
.108
.646
.108
.647
.108
.643
.109
.645
.109
.646
.653
thous. lb_. 155, 335
139, 962
1,859
4,046
14, 825
16, 785
17, 989
13, 655
11, 644
8,892
13, 760
11, 141
13, 593
11, 773
10, 826
3, 480. 5
138.7
286.4
127.3
272.3
133.4
291.3
132.7
268.7
142.1
287.6
138.9
281.1
144.5
244.4
130.7
281.7
128.2
294.5
116.3
341.9
113.1
321.6
116.0
r 309. 6
' 138. 7
298.1
122.9
3, 143. 7
70.5
241.5
84.8
215.9
76.4
248.9
80.0
258.4
73.9
283.7
91.4
322.0
74.7
253.5
62.5
242.8
60.2
254.3
60.2
268.4
53.0
274.9
63.3
r 279. 4
263.8
76.7
2, 181. 9
52.1
214.9
51.2
175.3
60.2
181.0
56.1
169.3
58.7
165.1
58.2
169.5
54.1
161. 1
55.5
162.6
51.0
187.2
50.1
209.8
54.4
179.2
53.8
r 207. 0
.256
.256
.256
.257
.257
.257
.257
.257
.257
.265
?7?
534.6
510.9
45.9
46.2
39.7
50.1
45.8
43.3
54.0
44.0
49.0
44.2
41.4
41.4
47.4
42.0
43.9
44.3
40.5
45.6
32.8
39.7
37.2
28. 3
43.1
43.3
27.8
44.4
43.0
25.6
49.5
48.0
26.0
4, 665. 0
2, 595. 3
348.0
409.1
217.6
421.6
378.2
205.0
425.1
380.1
215.7
419.1
386.2
228.0
335.9
372.3
211.6
306.4
363.8
219.9
281.2
382.8
211.5
283.3
374.3
208.1
290.4
383.2
220.5
303.6
171.6
75.6
84.0
.9
4.9
155.4
.9
6.4
122.5
.6
6.9
111.2
5.4
6.8
94.2
20.8
5.2
123.5
27.2
7.1
130.9
29.3
5.0
142.1
31.4
5.8
126.0
392.1
548.7
730.7
197.1
442.8
386.3
547.5
732.6
205.9
424.6
31.3
45.2
59.6
187.6
152.3
28.8
45.6
59.9
179.1
40.1
31.4
46.1
63.8
184.9
10.3
30.5
52.2
63.8
155.6
19.2
29.3
44.0
60.5
153.1
34.2
33.2
43.6
61.0
154.2
33.0
19.1
41.3
52.3
138.5
31.6
452.8
429.6
439.6
40.5
465.5
438.1
442.2
54.1
38.0
33.8
34.1
43.3
36.1
31.8
31.3
49.8
39.5
38.8
36.6
54.7
39.5
36.8
37.4
68.5
40.1
39.5
39.9
65.9
37.5
33.8
33.3
68.3
Exports, raw and refined
Imports:
Raw sugar, total 9
From the Philippines
Refined sugar, total
sh. tons.-
1,320
968
thous. sh. tons_.
do
do
4,879
1,075
117
$ per lb_.
$ per 5 lb__
_.$per lb_.
Prices (New York):
Raw, wholesale
Reflned-.
Retail (incl. N.E. New Jersey)
Wholesale (excl. excise tax)..
Tea, imports
221
.080
FATS, OILS, AND RELATED PRODUCTS
Baking or frying fats (Incl. shortening):
Production
mil. lb._ 3,311.9
Stocks, end of period©
do
142.7
Salad or cooking oils:
Production
do
2, 995. 9
Stocks, end of period®
do
79.4
Margarine:
Production
do
2, 140. 9
Stocks, end of period©
do
49.1
Price, wholesale (colored; mfr. to wholesaler or
large retailer; delivered)
$ per lb_.
.256
Animal and fish fats:A
Tallow, edible:
Production (quantities rendered)
mil. lb-539.1
Consumption in end products _
do
517.3
49.6
Tallow and grease (except wool), inedible:
Production (quantities rendered)
do
4, 745. 2
Consumption in end products
.
do
2, 478. 0
Stocks, end of period if
do
358.5
Fish and marine mammal oils:
Production
do
170.8
Consumption in end products
do
69.9
Stocks, end of period J
do
155.8
Vegetable oils and related products:
Coconut oil:
Production: Crude
Refined
Consumption in end products ...
Stocks, crude and ref., end of period If
Imports
Corn oil:
Production: Crude
Refined
Consumption in end products
Stocks, crude and ref., end of periodf
mil. lb__
do
.do
do
do
do
do
do
do
' Revised.
* Preliminary.
1 Less than 500 sh
ort tons,
O Cases of 30 dozen. tf1 Bags of 132.276 Ib.
§ M onthly da ta reflect (jumulati ve revisk>ns
40.0
33.0
33.6
65.9
on lar d,
stocks
see p S-28.
'70.5
52.1
202.1
49.7
48.7
41.3
34.5
49.3
'35.2
'45.9
40 7
41.5
46.1
432.9
238.1
330.8
393.8
211.0
353.7
398.3
r 208. 2
' 348. 0
419.6
209.4
415.5
28.2
7.2
131.4
14.0
6.6
148.2
8.2
6.8
104.6
••4.7
'6.9
' 84.0
.7
7.1
90.8
35.4
48.5
59.4
139.8
28.3
35.8
47.8
65.1
131.4
18.4
38.2
46.2
67.7
152.2
28.7
35.3
42.7
58.3
172.7
21.2
38.0
44.3
61.2
205.9
7.2
25.6
44.3
55.3
200. 9
146.5
38.5
34. 1
35.5
70.4
39.2
37.1
37.7
70.7
41.2
36.2
42.0
64.9
37.9
44.2
44.1
59.7
©Producers' aiid wareh ouse stocks.
36.7
34.6
37.3
49 9
1 Factory and warehouse
'38.0
39.0
'39.7
54.1
SURVEY OF CURRENT BUSINESS
S-30
Unless otherwise stated in footnotes below, data
through 1968 and descriptive notes are as shown
in the 1969 edition of BUSINESS STATISTICS
1968
1969
1969
Annual
March 1970
Jan.
Feb.
Mar.
Apr.
May
June
1970
July
Aus;.
Sept.
Oct.
Nov. | Dec,
Jan.
FOOD AND KINDRED PRODUCTS; TOBACCO—Continued
FATS, OILS, AND RELATED
PRODUCTS— Continued
Vegetable oils and related products — Continued
Cottonseed cake and meal:
Production
thous sh tons
Stocks (at oil mills), end of period
do
Cottonseed oil:
Production' Crude
mil Ib
Refined
do
Consumption in end products
do
Stocks, crude and refined (factory and warehouse), end of period
mil Ib
Exports (crude and refined)
do
Price, wholesale (drums* N Y )
$ per Ib
Linseed oil:
Production, crude (raw)
mil Ib
Consumption in end products
do
Stocks, crude and refined (factory and warehouse) , end of period __
. _ _ mil. IbPrice, wholesale (Minneapolis)
$ per Ib
Soybean cake and meal:
Production
thous sh tons
Stocks (at oil mills), end of period
do
Soybean oil:
Production' Crude
mil Ib
Refined
do
Consumption in end products
do
Stocks, crude and refined (factory and warehouse) , end of period
mil. Ib
Exports (crude and refined)
_
do _
Price, wholesale (refined; N.Y.)__
$ per Ib _
1, 574. 9 2, 001. 9
135.1
74. 9
255.3
141.2
215.9
167.5
201.0
163.5
175.0
192.5
155.0
215.5
106.8
179.4
69.6
155.0
57.0
99.2
74.9
64.9
221 5
61.4
229. 9
79.0
* 240. 0
••74.9
231.5
83.3
1,115 1
1, 001. 5
909.6
1 425 8
1,252 1
889. 7
186. 2
144.3
70.3
155. 8
130.4
66. 1
145.6
119.8
66.0
127 3
119.9
74.7
112.4
109.4
69.7
80 4
94.0
88.6
50 3
72. 2
62.4
37 2
54. 9
64.9
51.0
61 1
64 9
156 3
106.2
82.9
161.4
110. 9
83.5
r
T
161.9
129. 0
••95.7
158.4
120.9
81.4
272.7
61.7
.163
398 7
246. 7
345.5
2.6
. 140
377.2
20.7
. 140
430.0
9.5
.140
460.8
19.5
140
466.2
12.8
.140
467.6
4.9
. 140
439.7
23 2
.140
418.0
6.8
.140
376 8
4 7
140
372 8
43.4
140
383.9
56. 1
140
r 398. 7
42.6
383.7
53.0
306.6
195.6
291 8
193. 9
30.4
13.3
26.4
15.1
24.8
16.9
20 8
17.1
22.0
18.3
21 6
18.2
12.8
17.0
16.1
17.0
39.5
16.2
31.2
17.1
26.7
13.8
157.2
.127
128 8
152.8
.119
158.1
.119
164.2
.119
156.7
. 119
151.9
.119
131.4
.119
121.3
.119
113.1
.119
118.8
.119
130.7
.119
132.0
.125
1,163 4
151.6
1,246.7
162.4
1 164 7
133 2
1 200 8 1,123.8
140 6
130.8
1,096.0
108.6
1,416.2
120.2
13,462 7 14 717 2 1, 139. 9 1 033. 1 1,260 4
174.4
150.7
149.2
103 2
170.5
r
r
19. 5
13. 9
r 128. 8
23.0
13.6
128.5
1,418.6 rl 453 6 1, 425. 0
r
139.4
112. 1
!03 2
6, 149 6
5, 227. 9
5,401.6
6 804 7
5 860 0
5 926 9
524.2
460.1
489.0
474.6
448.3
429.2
578. 5
506.4
478.8
537 6
479 1
464.5
582.4
466.3
485.4
541 2
498.7
517.2
545 9
452. 4
457.7
526.9
459. 4
480.8
511.8
489.3
513.5
660.3
513.0
531.2
657.6
526.2
527.7
r
r
r
663 7
560 8
551. 9
661 1
534. 9
531. 2
588.6
823.4
.103
517 2
755 0
525.8
58.9
.106
517.7
19.1
.106
611.0
18.6
.106
595.5
71.3
.107
623.5
43.2
.107
557.2
120.3
.107
563.3
69.3
.107
552.5
20.1
.099
415.4
90.9
. 107
470.7
45.5
.124
492. 1
100.8
.126
r
517 92
97
548. 1
62.7
TOBACCO
Leaf:
Production (crop estimate)
mil Ib
Stocks, dealers' and manufacturers' end of period
mil Ib
Exports, incl scrap and stems
thous Ib
Imports, incl scrap and stems
do
1,710
i 1, 803
5 179
598 916
217 708
4 959
579 239
213 402
8,144
20, 490
4,224
12, 776
5 005
42, 410
16, 870
39 586
17, 092
66 505
17 771
4 590
55 541
20, 465
43 536
16, 864
43, 134
18, 970
4,771
61,733
16, 794
62, 426
19, 992
74, 688
20, 902
4,959
77, 312
14, 416
20, 483
16, 738
Manufactured:
Consumption (withdrawals):
Cigarettes (small):
Tax-exempt
Taxable
Cigars (large) taxable
Exports, cigarettes
53
523
6
26
47,118
510, 532
6,738
24, 993
3,122
45 580
484
705
3,009
41 538
498
1,525
3,820
40 138
536
2,136
3,590
40 222
552
1,707
4,041
44 487
597
9 249
'
5,321
45 249
576
2,958
5,009
41 845
544
2,597
3, 986
43, 208
621
2,693
3,718
45, 586
604
1,962
4, 146
45, 768
715
2,112
3,702
38, 875
599
2,027
3,654
38, 036
412
2, 329
3,874
42, 627
502
1, 935
millions
do
do
do
1
846
007
759
510
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_. ___ _ _ _
Sheep and lamb skins
Goat and kid skins _
thous. $
thous pieces
_ _
_ do
Prices, wholesale, f.o.b. shipping point:
Calfskins packer heavy 9H/15 Ib
Hides, steer, heavy, native, over 53 Ib
$ per Ib
do
128 679
2 212
1° 636
2
152 446
1 652
2 14 778
8 983
79
975
8 852
100
897
11 220
226
1 044
13 616
228
1 300
18 837
177
1 856
11 770
171
1 062
11 862
130
1 103
14, 204
115
1,341
12 652
111
1 229
14 736
131
1 420
14, 103
108
1,376
11, 747
76
1,196
11,321
76
1,154
78, 400
30 912
5, 203
62 400
2 20 716
2 5 065
2,000
693
73
4, 200
617
178
6, 300
1, 195
763
11 200
5 951
683
8,000
4 107
473
5,600
1,646
694
6,200
2 121
358
4,800
1,575
417
4,400
1,507
349
3,100
548
320
2,700
349
508
3,900
621
253
4,400
655
800
. 550
.192
650
.135
650
178
650
. 170
575
148
575
.146
450
. 138
.450
.136
356
1 882
527
2,183
293
1 955
'450
2 183
312
1 987
500
2,330
347
1 966
521
2,520
9
88
1 845
'491
2,327
203
1 558
' 455
1,791
215
1 853
330
1,984
248
1 758
485
1 788
271
1 925
539
1, 925
265
1 688
543
2,030
261
1 634
431
1,822
5 657
555
.112
650
. 128
600
. 148
500
. 163
LEATHER
Production:
Calf and whole kip
thous skins
Cattle hide and side kip
thous hides and kips
Goat and kid
thous skins
Sheep and lamb
do
4
24
6
31
247
033
764
413
5 856
25' 224
322
2 004
584
2,335
Exports:
Upper and lining leather
thous so ft
77 266
2 05 802
3 6°3
3 090
8 239
7 330
6 248
5 666
7 671
6 296
4 119
4 561
5 299
Prices, wholesale, f.o.b. tannery:
Sole, bends light
index 1957-59 — 100
Upper, chrome calf, B and C grades
index 1957 59—100
95 1
104 0
104 0
104 0
104 0
104 0
105 5
105 5
105 5
111 5
111 5
112 3
91 7
98 2
94 9
94 2
97 8
96 6
95 9
94 7
94 5
90 9
81 2
81 2
LEATHER MANUFACTURES
Shoes and slippers:
Production, total t
thous pairs
Shoes, sandals, and play shoes, except athletic!
thous pairs
Slippers}:
__do
Athletic t
do
Other footwear t
do
Exports
do
Prices, wholesale, f.o.b. factory:
Men's and boys' oxfords, dress, elk or side
upper, Goodyear welt
index 1957-59—100
Women's oxfords, elk side upper, Goodyear
welt
index 1957 59—100
Women's pumps, low-medium quality
do
r
1
2
642 427
526 580
105,437
8 331
2 079
3 381
99 041
580 857 "•53 125 '48 562 r 52, 868
r
461 707 '44 934 ^39 997 M3 363
109, 065
8,578
7,428
7,846
8 423
771
636
576
1,742
156
127
143
r
r
39 671
8,472
758
158
r
r
43 066
r
r33 711
8,776
9,480
475
726
104
145
r
48 271 ^47 571
37 996
9,532
597
146
r37 99Q
r
47 631 ^52 979 r 43, 237
44,928
47, 904
38 251
10, 480
755
154
r
36 302 MO 115 r32 970 37 177
11,874 ' 9, 407 r 6,r 828
10, 364
r 714
775
815
895
146
148
175
140
39 826
7,234
699
145
132
232
217
230
190
162
207
129 7
135 4
135 4
131 2
131 2
131 9
131 2
131 2
118 7
134 4
121 5
137. 9
124 4
138.0
124 4
138.1
127 °
137 8
127 9
139 0
127 2
139 0
127 2
140.7
2 324
r
49 718
143
2 884
Revised.
Crop estimate for the year.
Annual total reflects revisions not distributed to the monthly data.
48 901
6 063
228
173
189
131 2
135 7
137 1
137 1
127 2
140 7
197 9
143 0
128 7
142 3
128 7
142.0
9 Includes data for items not shown separately.
{Revisions for the months of 1968 will be shown later.
221
SUEVEY OF CURRENT BUSINESS
March 1970
1968
Unless otherwise stated in footnotes below, data
through 1968 and descriptive notes are as shown
in the 1969 edition of BUSINESS STATISTICS
1969
1970
1969
Jan.
Annual
S-31
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
2,736
550
2,856
608
2,248
Fe
LUMBER AND PRODUCTS
LUMBER— ALL TYPES 9
National Forest Products Association:
Production total
mil bd ft
Hardwoods
do
Softwoods
do
37 094
6 960
30 134
37 559
7 996
29 563
2,943
587
2,356
2,999
592
2 407
3,321
629
2,692
3 427
625
2 802
3,270
685
2,585
3,089
688
-do .
do
do
38, 052
7,762
30, 290
37, 397
8 640
28 757
2,986
704
2,282
3,062
730
2 332
3,355
778
2 577
3,345
688
2 657
3,325
745
2,580
Stocks (gross) , mill, end of period, total
do
Hardwoods _
do
Softwoods
..do __
5,086
914
4,172
5 491
751
4 740
5 113
879
4 234
5 118
824
4,294
5 162
748
4,414
5 246
703
4 543
654
4,540
1,143
6,087
2 1 isg
2 6* 263
72
353
73
490
73
724
103
664
9 047
822
7 811
486
755
898
530
809
668
818
8 802
8,804
955
8 250
8 146
1 010
663
679
956
664
619
1,001
403
102
301
359
88
271
24
g
16
107 85
166. 36
Shipments, total
Hardwoods
Softwoods
_
Exports, total sawmill products
Imports, total sawmill products
do _
-do- ._
3,205
698
2,507
3,391
3,111
3,335
723
2,925
728
2,197
2,699
569
2, 633
2,612
2,130
1,941
667
4,777
5,426
693
4,733
5,434
718
5 491
4,716
751
4,740
753
4,995
91
495
120
528
'525
85
443
116
435
515
600
487
659
476
776
495
556
433
685
486
591
468
3,062
680
2,382
3,121
3,081
721
2,990
694
3,048
734
2 360
2 296
2 314
691
2,420
5 218
4 582
5 354
'(541
4 713
5 430
' 636
4 794
106
549
101
554
88
537
696
704
612
542
577
439
697
526
775
659
1 118
846
810
1 147
703
774
661
679
622
610
743
757
619
618
1,067
1 073
1,084
1,014
687
609
1 055
1,013
628
632
1 074
1 010
1 088
32
8
24
22
4
18
31
10
21
32
7
26
33
10
22
28
4
24
31
7
23
35
9
25
37
9
28
19
4
15
37
8
29
130 11
137 49
147 11
140 41
125 96
109 95
95 71
95 08
94 61
94 28
96 15
179 83
195 55
208 29
213 84
215 44
213 07
213 84
215 44
215 44
222. 46
225. 60
5 194
2 401
636
718
2 403
5 444
728
2,663
103
2,876
699
2,177
2,186
692
5 748
SOFTWOODS
Douglas fir:
Orders new
Orders, unfilled, end of period
mil. bd ft
do
Production
Shipments _ ._ _
_
Stocks (gross), mill, end of period
do
-do _
do
Exports, total sawmill products..
Sawed timber.,
Boards, planks, scantlings, etc
do
do
do
Prices, wholesale:
Dimension, construction, dried, 2" x 4", R. L.
$ per M bd ft
Flooring, C and better, F. G., 1" x 4", R. L.
$ per M bd. ft
Southern pine:
Orders, new _
__ ___
Orders, unfilled, end of period
645
639
681
670
mil. bd. ft
do __
7,145
422
7 336
324
648
408
724
487
722
505
579
415
559
355
528
320
573
303
625
330
617
334
671
331
585
339
505
324
502
322
Production
___ _ __
_ do
Shipments.. _ _.
do __
Stocks (gross), mill and concentration yards, end
of period
- mil. bd. ft
6,870
7,030
7 645
7 434
681
662
634
645
670
704
701
669
666
619
651
563
642
590
607
598
594
613
671
674
576
577
552
520
574
504
1,137
1 348
1,156
1,145
1 111
1 143
1 190
1 278
1 330
1 339
1 320
1,317
1,316
1 348
1 418
90,477
2 75 687
621
1,524
9,367
7,699
9,216
6 882
5,764
5,947
7,615
6,918
5,821
8 597
7 359
Exports, total sawmill products
M bd. ft._
Prices, wholesale, (indexes):
Boards, No. 2 and better, 1" x 6", R. L.
1957-59-100
Flooring, B and better, F. G., 1" x 4", S. L.
1957-59—100
Western pine:
Orders, new
Orders, unfilled, end of period
Production
Shipments
..mil. bd. ft.
do_ _.
do
do
_
Stocks (gross) , mill, end of period
__do
Price, wholesale, Ponderosa, boards, No. 3, I" x
12", R. L. (6' and over)
$ per M bd. ft.
119 0
134 0
139 9
148 4
149 8
149 2
143 9
134 9
126 2
116 8
115 4
113 6
113 0
121 0
1°5 6
128 9
130 2
130 2
128 7
125 4
124 9
124 9
126 8
128 3
10, 881
539
9,592
364
748
616
731
564
864
530
769
452
839
416
794
389
881
391
818
443
867
438
884
430
674
385
723
364
637
399
10 851
10,900
10 000
9 768
702
671
807
783
922
899
908
847
904
875
800
849
834
849
811
913
872
900
892
702
719
744
744
668
602
1,396
1 627
1,627
1, 693
87.72
891
1,426
1,450
1,473
1 534
1 563
1 542
1 557
1 595
1,636
1 644
1 627
115. 76
129.86
145 12
163 54
145 05
110 28
82 19
79 64
74 90
76 02
77 83
27 4
17 5
35 4
29 2
14 1
30 1
12 7
38 7
16 8
33 6
14 9
32 8
15 1
36 7
16 6
24 2
13 2
24.1
12.0
21.6
10.5
33 0
32 4
27 7
31 2
31 6
26 3
99 7
34 1
22 0
31 8
35 0
20.1
32 1
32 3
19. 9
36 8
34 8
21 9
28 2
26 9
23.2
29 8
23 9
29.6
29.3
23.0
35.2
HARDWOOD FLOORING
Oak:
Orders, new
Orders, unfilled, end of period
. .mil. bd. ft..
do _
496.5
23.9
380.6
12.0
38.6
25.8
34.1
24.6
31.2
21.8
do
do
do _.
459 3
485 1
23.5
393 1
387 8
29.6
38 6
36 7
25.4
32 6
33 3
25.4
33 9
34 0
25.3
Production
Shipments
Stocks (gross), mill, end of period
39 q
27.8
METALS AND MANUFACTURES
IRON AND STEEL
Exports:
Steel mill products
thous. sh. tons
Scrap
do
P i g iron.. _ _ _ _ _ _ _
do
2 170
6 572
11
2 5 229
q 176
44
132
289
1
173
233
(i)
441
529
1
349
JCA
2
411
826
1
353
898
1
471
797
2
1 200
470
m
1 054
1 095
639
1
636
842
7
693
736
27
654
792
27
17 960
327
799
14 034
510
24
8
568
25
6
876
31
22
1 505
1 727
1 432
1 412
1 249
1 311
1 297
1 008
1 139
29
43
26
39
781
20
4
334
051
439
467
4 857
3 416
8 311
7 454
4 798
3 318
8 054
7 520
4
3
8
7
4
2
7
7
808
940
874
917
5 035
3 366
8 464
6 876
25.06
25 83
27 35
26 38
27.00
29.00
29.00 28.00
••Revised.
» Preliminary.
i Less than 500 tons.
2 Annual total reflects revisions
not distributed to the monthly data.
9 Totals include data for types of lumber not shown separately.
25 33
34 18
33 12
Imports:
Steel mill products
Scrap
_ _
Pig iron
_
do
do
do
412
417
40
29
37
41
63
76
790
205
177
369
4 661
3' 037
7 835
7 216
4
2
7
7
28 32
29 10
29 20
24
40
42
34
450
(i)
41
40
29
46
Iron and Steel Scrap
Production
Receipts, net %
Consumption. _ ._ _
Stocks, end of period..
__ thous. sh. tons
. __ do
do
do
Prices, steel scrap, No. 1 heavy melting:
Composite (5 markets)
$ per Ig. ton
Pittsburgh district
do
2
2
2
53, 545
33, 587
87, 060
7,882
4,471
2 865
7,706
7,535
4
3
7
7
499
795
320
204
510
799
506
015
31 82
4
9
7
6
32 13
34.00
27.00
34.00
37.00
34.00
30.00 31.00
30.00
t Receipts previously shown for the period Apr. 1967-Sept. 1969 have been corrected to
represent net receipts (i.e., less scrap shipped, transferred, or otherwise disposed of during the
period); data comparable with the net receipts shown through Mar. 1967 appear in the Feb.
1970 SURVEY, p. S-31.
SURVEY OF CURRENT BUSINESS
S-32
1968
Unless otherwise stated in footnotes below, data
through 1968 and descriptive notes are as shown
in the 1969 edition of BUSINESS STATISTICS
1970
1969
| 1969
Annual
March 1970
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
METALS AND MANUFACTURES—Continued
IRON AND STEEL— Continued
Ore
Iron ore (operations in all U.S. districts):
Mine production
thous. Ig. tons__ 85, 865
Shipments from mines
do
182,531
Imports
do
43, 941 "40~758~
U.S. and foreign ores and ore agglomerates:
Receipts at iron and steel plants
do
Consumption at iron and steel plants
do
Exports
do
5,230
2 220
1,394
4,967
2,043
1,673
5,884
2,456
1,521
6,104
5,297
2,856
9,514
10, 491
3,426
9,693
11, 563
2,906
9,611
12, 052
4,018
9,710
12, 075
3,706
8,893
11,116
5,188
8,596
10, 221
6,002
5,712
7,490
3,997
4,072
2,189
118,581
120, 449
5,937
126, 165
128, 550
5,430
3,380
10, 145
306
3,291
9,881
328
4,602
11,144
162
7,281
11,013
436
13, 330
11,396
656
12, 519
10, 751
523
15, 335
10, 385
675
14, 510
10, 404
807
15, 157
10, 342
466
15, 001
11, 244
345
11, 928
10, 762
341
9,832
11,083
417
4,012
10, 482
334
do
do
do
do
72, 019
15, 990
53, 232
2,797
51, 003
2,648
67, 926
18,801
46, 622
2,503
63, 694
21, 725
39, 950
2,019
60, 000
25, 153
33,416
1,431
56, 765
26, 105
29, 683
977
57, 742
25, 127
31,617
998
57, 602
23, 267
33,410
925
60, 484
20, 820
38, 397
1,267
62, 505
18, 454
42, 515
1,536
65, 523
16, 245
47, 331
1,947
68, 512
14, 918
51, 088
2,506
68, 047
13, 141
52, 254
2,652
51, 003
2,648
44, 488
2,489
do
953
1,124
92
40
60
126
81
69
95
105
122
94
117
123
106
Pig iron:
Production (excluding production of ferroalloys)
thous. sh. tons__ 88, 780
Consumption
do
i 89,953
Stocks, end of period
thous. sh. tons__
2,342
95, 015
7,296
7,402
2,160
7,225
7,290
2,063
8,196
8,238
1,971
8,150
8,083
1,933
8,414
8,282
1,864
8,055
7,896
1,932
7,836
7,680
1,991
7,699
7,742
1,894
7,739
7,732
1,828
8,292
8,253
1,760
7,955
8,132
7,668
62.70
63 00
63 50
63.78
62.70
63.00
63.50
62.70
63.00
63.50
62.70
63.00
63.50
62.70
63.00
63.50
62.70
63.00
63.50
62.70
63.00
63.50
63.15
63.00
63.50
65.20
65.50
63.50
65.20
65.50
66.00
65.20
65.50
66.00
65.20
65.50
66.00
65.20
923
15,034
8,710
1,107
15, 916
9,203
1,021
1,255
676
1,019
1,288
718
1,023
1,376
774
993
1,391
802
1,032
1,353
778
1,019
1,361
815
1,097
1,192
720
1,144
1,286
756
1,143
1,402
811
1,150
1,498
886
r 1, 096
' 1, 260
'735
1,107
1,254
732
137
'1,102
r
588
120
1,157
667
138
104
54
142
102
55
129
110
59
130
105
60
127
97
54
119
96
54
143
80
50
141
93
56
130
97
58
121
103
64
'115
'79
'49
120
91
54
141, 069
145.2
11, 083
134.3
10,915
146.5
12, 400
150.3
12, 143
152. 1
12, 356
149.8
11,810
147.9
11,365
137.8
11, 421
138.4
11, 523
144.3
12,324
149.4
11,916
149.3
468
1,906
1,589
392
153
132
432
163
138
430
169
145
442
168
140
453
172
135
457
161
134
455
156
129
462
135
112
433
153
127
420
167
138
1 93, 877
7,280
7,092
8,199
8,269
8,304
7,971
7,629
7,710
7,896
8,439
7,560
7,654
6,373
6,244
8,238
1,514
458
458
628
131
453
462
623
142
514
532
709
165
494
533
734
156
520
551
756
140
450
532
749
130
466
552
729
102
527
495
630
104
582
526
655
104
604
554
719
108
649
528
653
105
704
519
662
131
14, 354
8,659
3,659
1,923
9,232
3,256
6,555
38, 111
12, 471
16, 427
1,096
699
222
166
749
249
504
3,006
897
1,379
1,052
678
213
152
732
239
497
2,892
914
1,294
1,216
776
263
167
1,017
286
576
3,185
968
1,419
1,304
795
320
178
930
303
553
3,263
1,034
1,448
1,285
758
352
165
842
284
575
3,352
1,056
1,482
1,229
716
337
167
848
293
563
3,177
1,080
1,312
1,145
669
325
143
759
252
582
3,042
1,013
1,283
1,174
681
334
150
691
271
567
3,251
1,107
1,358
1,194
701
320
162
702
279
571
3,284
1,093
1,398
1,307
790
342
164
694
312
518
3,624
1,245
1,526
1,157
701
297
149
598
237
449
3,185
1,112
1,337
1,146
703
291
142
699
230
598
2,964
1,015
1,260
Stocks, total, end of period
At mines
At furnace yards
At U S docks
Manganese (mn. content), general imports
Pig Iron and Iron Products
Prices:
Composite
$ per Ig. ton-Basic (furnace,)
do
Foundry. No. 2, Northern
do
Castings, gray iron:
Orders, unfilled, for sale, end of period
thous. sh. tons__
Shipments total
do
For sale
do
Castings, malleable iron:
Orders, unfilled, for sale, end of period
thous. sh.tons__
Shipments, total
do
For sale
do
3
Steel, Raw and Semifinished
Steel (raw) :
Production
thous. sh. tons__ i 131,462
Index
daily average 1957-59=100__
135.0
Steel castings:
Orders, unfilled, for sale, end of period
thous. sh. tons__
371
Shipments total
do
1,731
For sale, total
do
1,437
'430
'151
' 128
11,812 '11,243
143.2 ' 136. 3
468
158
131
Steel Mill Products
Steel products, net shipments:
Total (all grades)
thous. sh. tons__ i 91, 856
By product:
Semifinished products
do
4,821
Structural shapes (heavy) steel piling do
6,149
Plates
do
8,401
Rails and accessories
do
1,462
Bars and tool steel total
Bars* Hot rolled (incl light shapes)
Reinforcing
Cold
finished
Pipe and tubing
Wire and wire products
Tin mill products
Sheets and strip (incl. electrical), total
Sheets: Hot rolled
Cold rolled
By market (quarterly shipments) :
Service centers and distributors
Construction incl maintenance
Contractors' products
Automotive
Rail transportation
Machinery, industrial equip tools
Containers, packaging, ship, materials..
Other _ .
do
do
do
do
do
do
do
do
do
do
13, 660
8,497
3,241
1,815
10, 078
3,393
7,267
36, 624
10, 782
16, 336
do
do
do
do
16, 099 i 17, 656
12, 195 i 11, 285
14,764
i 4, 922
1
19, 269 i 18, 291
4 021
2,720
1,142
4,828
4,656
3 262
1,258
4,587
4,468
2,789
1,216
4,481
2 1, 581
2911
2432
2
1, 727
2 1, 421
2800
2376
2 1,430
2 1, 484
2878
2362
2 1, 270
do
do
do__
do
i 3, 048
1
5, 469
i 7, 902
i 22, 952
i 3, 358
i 5, 702
i 7, 144
i 25, 677
916
1,401
1,741
5,783
943
1,542
1,862
6,435
721
1,333
1,838
6,388
2258
2496
2561
2 2, 472
2242
2456
2500
2 2, 336
2273
2473
2647
2 2, 266
10.5
70.1
68.7
'9.8
'69.3
'70.0
9.8
5.9
6.1
10.0
6.4
6.2
'9.8
5.6
5.7
'9.8
'5.6
'5.7
Steel mill products, inventories, end of period:
Consumers' (manufacturers only)__mil. sh. tons__
Receipts during period
_ _ do
Consumption during period
do
1
1
10.0
5.6
6.1
10.1
5.8
5.7
10.1
6.1
6.1
10.1
6.2
6.2
10.1
6.0
6.0
9.8
5.6
5.9
10.0
5.2
5.0
10.0
5.3
5.3
6.3
6.0
5.9
5.6
5.5
5.8
5.6
5.7
5.8
6.1
5.9
5.8
'5.9
6.0
9.9
9.0
'11.7
10.2
10.1
9.2
10.1
9.5
10.3
9.5
10.3
9.6
10.4
9.5
10.5
9.5
10.8
9.6
11.0
9.5
11.0
9.5
11.0
9.6
11.3
9.9
'11.7
10.2
Steel (carbon), finished, norrmnsitp nnW <fc r»or TV,
n«73
noi7
OSQ1
nRQ!
1
^Preliminary.
Annual total; monthly revisions are not available.
? Revised.
For eleven months.
.0903
.0903
.0908
.0908
. 0931
.0933
. 0933
.0933
.0933
.0933
Service centers (warehouses)
do
Producing mills:
In process (ingots, semifinished, etc.)
do
Finished (sheets, plates, bars, pipe, etc.) _ do
r month shown.
10.2
6.4
6.0
11.7
9.3
Feb.
SURVEY OF CURRENT BUSINESS
March 1970
Unless otherwise stated in footnotes below, data
through 1968 and descriptive notes are as shown
in the 1969 edition of BUSINESS STATISTICS
1968
1969
1969
Jan.
Annual
S-33
Feb.
Mar.
Apr.
May
June
1970
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
METALS AND MANUFACTURES—Continued
NONFERROUS METALS AND PRODUCTS
Aluminum:
Production, primary (dom. and foreign ores)
thous. sh. tons.. 3, 255. 0
Recovery from scrap (aluminum content). .do
i 925. 0
332.2
72.0
334.7
28.6
26.9
35.3
31.6
41.1
49.5
43.0
.2800
52.3
.2800
3, 793. 1
958.1
313.6
77.0
286.1
77.0
317.2
77.0
309.4
91.0
323.8
90.0
313.0
88.0
321.2
71.0
318.0
76.0
313.0
77.0
326.9
83.0
685.2
61.8
180.3
468.6
57.2
344.4
30.5
1.4
11.6
45.1
4.8
7.9
49.2
5.7
12.1
57.9
7.0
31.8
42.1
5.6
23.7
41.1
5.4
24.5
41.4
5.7
38.1
37.4
35.6
32.9
34.9
43.1
43.9
70.9
.2557
43.0
.2718
64.6
.2655
52.9
.2700
54.6
.2700
51.0
.2700
45.0
.2700
43.4
.2700
45.6
.2700
53.0
.2700
42.8
.2700
44.9
.2765
51.0
.2800
9,864.8 10, 788. 6
7,170.0 7, 663. 5
3, 404. 6 3, 702. 0
1, 568. 3
885.0
642.8
307.9
156.5
880.8
637.7
322.0
144.4
907.6
659.3
317.9
151.6
909.4
651.4
312.1
152.7
931.5
687.5
337.4
151.7
928.8
656.6
321.5
145.1
873.6
626.9
302.4
124.1
849.5
606.5
297.5
933.3
640.7
300.7
932.5
647.5
300.7
1, 204. 6
1, 437. 4
1, 160. 9
276.5
400.9
1, 558. 0
1, 742. 8
1, 468. 9
273.9
465.6
120.9
154.0
131.4
22.6
37.5
118.6
131.2
115.4
15.8
32.0
132.9
155.3
126.5
28.8
37.9
135.6
149.3
124.3
25.0
36.4
128.6
151.0
127.3
23.7
36.8
129.3
141.8
118.2
23.6
40.5
123.2
134. 5
113.5
21.0
37.5
125.2
130.4
108.9
21.4
39.1
127.7
133.6
111.4
22.2
40.6
140.6
157.1
127.5
29.5
44.9
140.0
145.6
123.9
21.7
41.0
716.7
405.4
415.1
131.1
11.7
8.3
37.4
6.4
39.5
10.9
40.8
11.0
44.2
13.7
32.5
15.9
33.7
8.5
36.3
9.4
38 3
7.2
32.9
12.3
360.8
240.7
286.2
200.3
15.8
13.0
18.2
14.6
31.6
24.0
27.7
19.0
24.0
15.7
23.7
17.0
23.2
16.3
28.9
18.5
28.1
17.9
Consumption, refined (by mills, etc.)
do
1,876.4
Stocks refined end of period
do
171.5
114. 9
Fabricators'
do
Price, electrolytic (wirebars), dom., delivered}:
$ per lb-_ 2 .4225
2, 145. 0
170.3
124.4
179.6
187.6
118.4
174.8
179.1
105.2
180.3
165.9
103.5
187.0
153.8
106.6
183.6
152.3
108.5
194.1
138.8
104.1
141.7
164.5
122.7
167.5
159.4
115.8
.4793
.4390
.4423
.4479
.4495
.4589
.4642
.4645
.4832
Imports (general):
Metal and alloys, crude
do__ -
Exports, metal and alloys, crude
do
Stocks, primary (at reduction plants), end of
period
thous. sh. tons
Price, primary ingot, 99.5% minimum_-.$ per lb..
Aluminum products, shipments:
Ingot and mill products (net) §
Mill products, total §
Plate and sheet (excluding foil)
Castings
mil. Ib
do
. do . .
do
Copper:
Production:
M^ine recoverable copper
thous sh tons
Refinery primary
do
From domestic ores
do
From foreign ores
do
Secondary recovered as refined
do
Imports (general) :
Refined, unrefined, scrap (copper cont.)..do
Refined
do
Exports:
Refined and scrap
do
Refined
do
318.7
79.0
r
r
849. 2 907.4
586. 2
620.4
' 277. 4 304.5
140.4
18.6
41.4
136.3
148.6
131.4
17.2
37.5
36.3
15.8
31.5
11.8
24.5
11.7
23.8
15.6
21.2
13.7
20.0
14.9
25.1
18.6
180.1
138.9
92.5
194.7
150.2
95.1
181.1
162.9
106.7
180.5
170.3
124.4
170.1
175.6
123.6
.5176
.5248
.5252
.5289
.5625
140.6
r 159. 0
Copper-base mill and foundry products, shipments
(quarterly total) :
Brass mill preducts
.mil. lb..
Copper wire mill products (copper cont.) _do
Brass and bronze foundry products
do
2,757
2,364
968
3,111
2,588
1,029
Lead:
Production:
Mine, recoverable lead
thous. sh. tons__
Recovered from scrap (lead cont )
do
359.2
i 550. 9
501.9
604.2
37.1
49.9
35.2
49.3
'39.1
53.8
42.6
50.9
44.2
49.7
45.5
50.1
r44.7
r45.5
44.1
48.8
43.5
53.0
41.7
55.4
41.3
49.8
41.4
49.2
424.6
1,328.8
389.6
1, 375. 2
19.1
115.0
26. 3
104.8
36.5
116.5
47.1
114.4
32.1
115.9
34.6
114.6
38.1
100.5
36.6
111.7
25.1
122.5
37.5
130.5
28.2
112.1
28.5
116.7
146.8
165.7
139.4
143.5
1.34. 0
136.7
135.5
135.0
150.1
160.7
171.0
176.1
172.3
165.7
15.3
88.9
25.5
152.7
14.1
82.4
10.1
87.9
11.2
105.7
12.9
121.3
18.7
127.6
18.1
135.6
15.0
142.4
15.3
145.1
17.7
146.6
20.5
141.3
22.7
148.4
25.5
152.7
57.8
.1321
64.3
.1490
55.4
.1341
54.5
.1400
56.4
.1400
55.2
.1440
54.3
.1450
51.6
.1486
55.9
.1545
59.0
.1550
61.3
.1550
59.2
.1550
57.9
.1559
64.3
.1603
0
5,312
2,140
285
7,105
4,925
0
3,975
1,895
255
6,110
4,360
0
4,141
1,770
270
6,210
4,430
6,345
4,565
143
320
16,245 14, 808
1. 6671 1. 7596
852
13, 830
1.8132
448
13, 655
1.7917
Imports (general), ore (lead cont.), metal.. .do
Consumption total
do
Stocks, end of period:
Producers', ore, base bullion, and in process
(lead content), ABMS
thous. sh. tons_.
Refiners' (primary), refined and antimonial
(lead content)
thous. sh. tons__
1
Consumers' (lead content) cf
do
Scrap (lead-base, purchased), all smelters
(gross weight)
thous sh tons
Price, common grade (N.Y.)
$perlb-_
832
671
260
831
617
269
Ig tons
do
do
do
do
do
3,266
57, 358
122,495
1 2, 978
81,961
58, 859
0
54, 950
23, 030
3,000
80,571
57,816
0
2,396
1,965
225
6,920
4,810
0
6,524
1,875
225
6,330
4,585
0
5,218
1,970
255
6, 755
4,890
0
6,590
2,120
235
7,250
5,145
0
7,177
1,935
275
7,130
5,075
0
4,544
1,980
270
6,905
4,965
0
3,607
1,710
250
6,435
4,870
0
4,738
1,775
260
6,455
4,665
0
4,805
1,895
195
6,625
4,695
Exports, incl. reexports (metal)
Stocks, pig (industrial), end of period
Price pig Straits (N Y ) prompt
do
do
$ per Ib
5,027
18, 534
1.4811
3,217
13, 830
1. 6444
110
14,985
1. 6250
198
13,810
1. 6518
244
15,515
1. 5552
137
15,635
1. 5681
154
14, 940
1. 5667
581
15,325
1. 5900
124
14, 680
1. 6200
83
13, 645
1. 6590
270
16, 045
1. 6564
Zinc:
Mine production, recoverable zinc
thous. sh. tons._
Imports (general) :
Ores (zinc content)
do
Metal (slab, blocks)
do
Consumption (recoverable zinc content):
Ores
Scrap, all types
do
do
529.4
544.1
41.9
r42.7
44.5
47.4
47.3
46.4
••45.1
r46.5
46.5
46.5
44.6
44.7
546.4
305.5
602.1
324.7
48.8
16.7
43.6
22.7
43.1
28.4
37.6
29.8
59.6
32.1
71.6
25.9
49.4
32.8
47.1
27.6
50.9
31.4
57.0
25.7
53.0
23.8
40.3
27.8
* 124. 1
i 270. 6
133.7
232.8
10.8
19.0
9.3
18.8
10.1
19.7
10.8
19.3
11.9
19.7
10.7
19.0
10.0
18.6
10.3
19.0
12.3
19.2
13.0
20.4
12 2
20.0
12.3
20.1
92.5
5.3
117.8
.1
93.7
5.7
117.8
2
92.7
5.0
115.8
.4
91.4
4.6
102.7
.2
88.6
4.8
110.8
2.2
90.0
4.6
116.0
.7
88.0
6.5
122.0
.4
86.6
6.2
103.0
.1
85.0
5.5
97.3
3
()
Slab zinc:
Production (primary smelter), from domestic
and foreign ores
thous. sh. tons._ U,020.9 1, 083. 6
86.6
94.0
94.5
Secondary (redistilled) production
do
179.9
5.3
65.7
6.1
6.1
1
Consumption, fabricators'
do
1,333.7 1, 362. 9 119.1 113.8
126.8
Exports
do
33.0
9.3
4.9
(3)
(3)
Stocks, end of period:
Producers', at smelter (AZI)O
do
63.1
78.3
42.7
50.9
48.8
Consumers'
do
102.4
97.5
94.5
99.3
94.6
Price, Prime Western (East St. Louis).$ per lb. . .1350
.1460
.1384
.1400
.1400
r
Revised.
p Preliminary.
1 Annual total; monthly revision s are nc)t avails ble.
2 Average for Apr.-Dec.
3 Less than 50 tons .
Publica tionofdoi nestic pr ices of co]3per
has been suspended by METALS WEEK.
§For revised 1968 monthly data, see Feb. 1970 Su RVEY, p. S-32.
tPrices shown are averages of delivered prices; a~vrerage difi erential t etween ' he deliv ered
731
624
250
717
676
250
Tin:
Imports (for consumption) :
Ore (tin content)
Bars, pigs, etc
Recovery from scrap total (tin cont )
As metal
Consumption, pig, total
Primary
(4)
28. 2
.1650
.1650
0
5,358
44.7
25.6
(3)
109.2
94.6
78.3
37.9
38.1
61.4
42.9
51.1
45.9
43.7
48.6
94.5
97.9
101.8
109.0
105.7
99.1 '93.5
97.3
104.0
.
1550
. 1550
.1550
.1450
.1450
.1550
.1550
.1450
.1486
.1400
.1450
andt le refiner y price is taken tc be 0.400 cents pei^Ib.thro ugh 1969 and 0.50C cents, beginning
1970.
c?C onsumei s' and se condary smelters ' lead st 3cks in r efinery s hapes an d in copper-base
scrap
OP roducers ' stocks eIsewhere , end of I"eb. 1970 12,600 tcms.
SURVEY OF CURRENT BUSINESS
S-34
1968
Unless otherwise stated in footnotes below, data
through 1968 and descriptive notes are as shown
in the 1969 edition of BUSINESS STATISTICS
1969
| 1969
Jan.
Annual
March 1970
Mar.
Feb.
May
Apr.
June
1970
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
METALS AND MANUFACTURES—Continued
HEATING EQUIPMENT, EXC. ELECTRIC
Radiators and con vectors, shipments:
Cast-iron
mil so ft radiation
N on ferrous
do
Oil burners:
Shipments
thous
Stocks end of period
do
Ranges, gas, domestic cooking (inch free-standing,
set-in, high-oven ranges, and built-in oven
broilers), shipments
thous
Top burner sections (4-burner equiv ) ship do
Stoves domestic heating shipments total
do
Gas
do
Warm-air furnaces (forced-air and gravity air-flow),
shipments total
thous
Gas
do
\Vater heaters gas shipments
do
5
6
6.4
6
3
3
7 7
6 3
51
5 7
4
6.6
.3
5.8
.4
7.0
.6
7.9
.6
9.0
.4
5.9
665.3
59.8
24.5
50.1
28 2
52.5
29 3
51.7
28 2
46.0
21.2
52.2
27.9
40.3
30.5
63.1
28.3
66.1
23.7
73.6
19.7
'52.9
18.2
2 274 2 2 2,271. 5
206 1 2 182. 5
179.7
14 7
191.7
16 6
226 3
18 7
197.3
15 5
203 0
17 0
213.3
17 8
169.0
15 6
221 9
15 8
230.3
18.3
237.9
17 7
201.8
14 8
1, 363. 7
967.6
73 3
42.6
61 4
32.1
83 4
51.5
80 4
51.8
85.9
60.7
98.2
68.6
128.5
95.7
176.4
133.5
172.0
132.1
189.4
143.8
133.4
102.0
81.5
53.3
1 727 1 1, 899. 1
1, 372. 0 1, 531. 6
2 705 9
147.9
122.6
246 3
136 6
112 5
231 9
142 1
116 6
244 7
133 0
110.7
270 1
143.9
120.2
227 7
147.8
120.3
210 8
154.1
124.7
208.2
172.3
136.3
205.5
202.3
153.9
233.0
218 9
170 7
249 8
»•r 153. 2
121. 7
147.1
121.4
270 3
366.1
503 2
325 1
328 0
628 5
310 2
268 6
419 7
469.1
318.3
273 0
307.2
242.4
i 121 2
i 12.1
i 64 6
i 113. 1
U6.4
158.3
6.9
.8
12.0
12.4
17.0
10.4
1.9
38
98
6 6
.8
6.9
8.4
1.2
4.7
6.4
.3
4.0
5.9
1.6
2.2
6.7
.6
39
1.1
6.7
9.7
.6
31
9.5
5.8
1.8
6.6
.8
3.4
6 4
2 79 2
24.9
273.4
677.7
29 5
1 362 9
968.5
56.9
MACHINERY AND EQUIPMENT
Foundry
equipment (new), new orders, net
mo avg shipments 1957 59 — 100
Furnaces (industrial) and ovens, etc., new orders
(domestic), net
mil $
Electric processing
do
Fuel-fired (exc for hot rolling steel)
do
Material handling equipment (industrial):
Orders (new) index seas ad]
1957 59 — 100
Industrial trucks (electric), shipments:
Hand (motorized)
number
Rider-type
do
Industrial trucks and tractors (internal combustion
engines) shipments
number
Machine tools:
Metal cutting type tools:
Orders, new (net), total
Domestic
Shipments, total
Domestic
Order backlog, end of period
Metal forming type tools:
Orders, new (net) total
Domestic
Shipments total
Domestic
Order backlog end of period
mil $
do
do
do
do
.5
12.2
.7
3.2
220 4
246 8
254 9
275 4
216 0
288 1
287 8
233 8
241 3
225 0
215 2
251 2
218 3
254.3
10 753
12 243
14, 579
14, 903
1 116
1,026
1 081
1 046
1 248
1 267
1 221
1,284
1,394
1,257
1,336
1,205
1,037
1,494
1,041
900
1,282
1,352
1 348
1 391
1,069
1,282
1,406
1,399
1,000
1,407
42 601
50 446
4 183
3 850
4 257
3 958
5 137
4 223
3 777
4 074
4 429
4 220
4 010
4 328
4 135
1, 079. 35
959 90
1 358.30
1 238 30
809 6
1, 195. 30
1 032.65
1, 192. 45
1 077.45
812.4
91.20
76 00
86.45
82 80
814.3
93.15
83 15
97.70
90 60
809.8
115 90
100 85
105 30
94 70
820 4
182. 35
173 60
101. 10
91 95
901 6
113. 20
99.05
98.45
88 90
916.4
112.70
99.90
12220
112 40
906.9
87.35
70.00
83.85
75.05
910.4
66.70
56.45
74.05
63 15
903.0
82.00
58.50
108. 40
96.65
876.6
89.00
77.40
104. 60
94 00
861.0
78.95 r 82. 80
67.55 r 70. 20
92.20 ' 118.15
83 90 ' 103.35
847.8 r 812. 4
90.65
76.85
92.60
82.95
810.5
394 75
360.55
368 60
324 45
254 5
533. 45
484. 35
405. 10
369. 30
382 8
36 30
32.75
28 30
25 85
262 5
45 70
43.10
32 80
28 70
275 4
45 75
40 70
33 55
30 85
287 6
90 20
86.95
29 05
25 70
348 7
55.70
52.75
31.95
29.50
372 5
49.70
45.60
40 00
35.85
382 2
40.65
37.10
27 90
26.25
394 9
38.60
33.30
30 70
28.05
402 8
27.70
23.95
34.85
32.80
395 7
45.00
36.25
43 20
40.40
397 5
31.90
27.70
39 20
34 15
390 2
' 26. 25
r 24. 20
' 33. 60
20.60
17.50
41.30
39.60
362.1
1453 4
490 2
147 2
45.1
107.4
49.0
341 5
r 3 27. 6
331.7
167 0
173 0
137 8
874 1
222 5
247 5
175 6
i 1,211.3 1, 148. 7
363.5
320.2
' 228. 3
do
do
do
do
do
Other machinery and equip., qtrly. shipments:
Tractors used in construction:
Tracklaying, total
mil $
Wheel (contractors' off-highway)
do
Tractor shovel loaders (integral units only),
wheel and tracklaying types
mil $
Tractors, wheel (excl. garden and contractors'
off-highway types)
mil $
Farm machines and equipment (selected types),
excl. tractors
mil. $._ '
1
502. 6
1938 4
134 8
53 5
3
99 1
3
r 31. 20
' 382. 8
3 72.7
56 7
236.7
ELECTRICAL EQUIPMENT
Batteries (auto replacement) shipments
thous
Household electrical appliances:
Ranges, incl. built-ins, shipments (manufacturers' ) , domestic and export
thous
Refrigerators and home freezers output
1957 59—100
Vacuum cleaners sales billed
thous
Washers, sales (dom. and export)
do
Dryers (gas and electric), sales (domestic and
export)
thous_Radio sets, production©
... ___ .
do
Television sets (incl. combination), prod.O-.do
Electron tubes and semiconductors (excl. receiving,
power, and spec purpose tubes) sales
mil $
Motors and generators:
New orders, index, qtrly
1947-49—100
New orders (gross) :
Polyphase induction motors 1 200 hp
mil $
D C motors and generators 1 200 hp
do
34 960
36 451
3 768
2 680
2 329
2 094
1 950
9 324
2 485
3 074
4 Oil
4 475
r 3 853
3 408
2, 306. 8 i 2,342. 3
' 193. 4
196.7
208.0
212.9
194.2
200.6
209.2
195.2
194.6
242.2
144.6
153.5
120.2
142.8
181 0
165 6
6 653 1 7 133 7
4, 519. 8 4, 421. 5
188 0
560 7
355.5
205 1
551 6
362.3
210 2
666 4
377.5
219 7
602 5
332.8
212 2
515 9
332.9
207 3
514 6
381.5
196 6
499 6
395.4
125 0
562 8
417.9
194 1
765 0
433.5
201 8
728 7
462.8
98 6
645 0
290.8
113.3
520.9
277.1
131.5
565.1
242.4
303.2
237.2
173.3
146.1
190.0
220.9
276.1
350.4
394.6
268.2
243.6
203.7
219.4
2, 085
* 1, 235
1,532
865
1,534
845
* 1, 860
< 1, 070
1,239
614
1,827 * 42,211
877
1, 167
1,838
984
1,504
888
1, 437
*764
1,369
704
1,240
69 3
61 1
69 7
63.1
2, 861. 8
3, 022. 5
274.4
247.7
22, 566
11, 794
20, 549
11, 270
1,769
960
1,714
1,002
1593 1
770 7
206
217
96 6
49 5
5 J09 3
51 9
5
56 9
60 6
4
68 1
64 4
64 5
5g o
36
5
87
4 2
5
89
4 8
69 5
51 8
63 5
236
210
5
99
4 2
5
98
5 6
59 5
5 3
71 2
58 0
38
5 IQ 3
4 0
782
210
213
58 8
4 8
4
5 10 3
4 4
5 8 1
36
58 8
35
PETROLEUM, COAL, AND PRODUCTS
COAL
Anthracite:
812
••889
Production
thous. sh. tons.. 11, 461
866
736
891
952
873
880
807
1,014
10, 800
1,038
926
900
917
16
Exports .
do
70
70
63
41
194
111
774
14
76
59
18
39
518
17
Price, wholesale, chestnut, f.o.b. car at mine
$ per sh ton
13 813
14.955 15. 002 15.002 14. 708 14. 220 14. 220 14. 778 14. 778 15. 268 15. 268 15. 758
Bituminous:
Production
thous. sh. tons.. '545.245 556. 051 r 47.643 ' 41.994 ' 44.397 r 46.860 r 49.313 ' 43.877 r 35.700 r 47.944 ' 48,788 ' 53,532 r 45,337 »• 50,666 44, 000 43,885
r
2
O Radio production comprises table, portable battery, auto, and clock models; television
Revised.
1 Revised total; monthly revisions are not available.
Total for 11 months.
3
For month shown.
* Data cover 5 weeks; other periods, 4 weeks.
s Excludes
sets cover monochrome and color units.
orders for motors 1-20 hp.; domestic sales of this class in 1969 totaled $117.2 mil.; Dec. 1969,
$8.6 mil.
SURVEY OF CURRENT BUSINESS
March 1970
1968
Unless otherwise stated in footnotes below, data
through 1968 and descriptive notes are as shown
in the 1969 edition of BUSINESS STATISTICS
1969
Annual
S-35
1970
1969
Jan.
Mar.
Feb.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
PETROLEUM, COAL, AND PRODUCTS—Continued
COAL— Continued
B ituminous— C ontinued
Industrial consumption and retail deliveries,
total 9
thous sh. tons
Electric power utilities
do
Mfg. and mining industries, total
do
Coke plants (oven and beehive)
do
Retail deliveries to other consumers
_ do
Stocks, industrial and retail dealers', end of period,
total
thous. sh. tons
Electric power utilities
do
Mfg. and mining industries, total
do Oven-coke plants
do
Retail dealers
do
Exports
do
Prices, wholesale:
Screenings, indust. use, f.o.b. mine
$ per sh. ton..
Domestic, large sizes, f.o.b. mine
do
COKE
Production:
Beehive
Oven (byproduct) __ _
Petroleum coke§
Stocks, end of period:
Oven-coke plants, total. .
At furnace plants,
At merchant plants
Petroleum coke_
Exports
41, 794 '42,626
25, 226 25, 881
15, 449 '15,587
8,091 ' 7, 768
47, 430
29, 120
16, 906
8,134
498, 830
294, 739
188, 450
90, 765
507, 733
308, 770
185, 983
93, 017
48, 558
29, 041
16, 919
7,452
42, 268
24, 771
15, 490
6,971
44, 410
26, 304
16, 594
7,665
38, 584
22, 383
15, 643
7,652
39, 004
23, 142
15,452
7,954
39, 466
24, 391
14, 709
7,743
42, 074
27, 173
14,418
7,833
41, 828
26, 794
14, 456
7,840
39, 691
24, 544
14, 360
7,714
15, 224
12, 667
2,597
2,007
1,509
530
374
335
442
538
748
1,075
1,122
1,390
85, 525
64,168
21, 169
9,537
81, 779
61,894
19, 701
8,962
78, 152
58, 713
19, 291
8,650
76, 056
57, 018
18, 913
8,222
72, 416
54, 762
17, 569
7,422
77, 054
58, 267
18, 699
8,001
82, 084
62, 097
19,875
8,743
82, 763
62, 297
20, 316
8,822
74, 397
56,758
17, 480
6,470
75, 128 ' 78,769
56, 975 59, 046
17, 980 19, 502
7,338
6,618
83, 545
62, 328
20, 996
8,376
84, 662
63, 433
21,018
8,807
81, 779
61, 894
19, 701
8,962
188
184
148
125
85
88
112
150
159
173
221
221
211
184
50,636
56, 246
3,654
2,939
2,680
4,503
6,010
5,712
4,836
4,927
4,882
5,508
5,751
4,843
5.804
7.456
5.804
7.456
5.804
7.456
5.847
6.988
5.897
6.988
5.932
7.081
6.068
7.343
6.068
7.414
6.068
7.529
6.342
7.836
6,470
8,086
5.397
6.944
thous. sh. tons..
do
_ do _
••775
62, 878
19, 038
710
63, 999
43
5,177
1,481
42
4,873
1.482
52
5,297
1,675
60
5,312
1,674
53
5,523
1,689
53
5,347
1,771
47
5,387
1,811
70
5,412
1,752
76
5,274
1,734
69
5,552
1, 795
63
5,333
1,827
81
5,555
do
do___
do _ _ _
_ _ _
do
do...
5,985
5,637
348
1,239
792
3,120
3,020
99
5,865
5,542
323
1,298
105
5,565
5,278
286
1,299
77
5,019
4,796
223
1,261
157
4,507
4,310
197
1,309
148
4,162
3,969
193
1,318
130
3,896
3,729
167
1,382
178
3,787
3,594
193
1,314
181
3,816
3,629
186
1,235
121
3,699
3,553
146
1,131
100
3,430
3,309
121
1,225
123
3,320
3,202
119
1,237
146
3,120
3,020
99
1,156
3.06
303.8
86
799
3.06
299.3
94
1,344
3.18
325.7
92
1,094
3.21
312.1
92
1,036
3.21
326.2
90
1,277
3.21
324.7
92
1,091
3.21
339.2
94
1,261
3.21
334.9
92
1,107
3.21
324.4
92
1,217
3.21
325.8
90
1,080
3.21
321.6
92
1,630
164
3,984
89
PETROLEUM AND PRODUCTS
Crude petroleum:
Oil wells completed
number14, 426
3.06
mil. bbl._ 3, 774. 4
^7 of capacity
93
Runs to stills
Refinery operating ratio
All oils, supply, demand, and stocks:
New supply, totaled
Production:
Crude petroleum
Natural-gas plant liquids
Imports:
Crude and unfinished oils
Refined products
Distillate fuel oil
Residual fuel oil
Jet fuel
_
_.
4, 922. 1
5, 101. 3
427.7
388.9
435.9
418.8
429.1
417.1
424.5
423.8 '419.8 ' 429. 0 421.2
3, 329. 0
553.7
3, 363. 6
584.5
275.0
48.7
249.4
45.5
280.1
49.6
277.0
47.6
289.3
49.3
288.3
47.2
287.2
48.7
280.7
49.0
278.1
47.4
284.5
50.1
279.3
49.5
294.8
52.0
do
do
501.7
537.7
549.1
604.1
37.6
66.4
40.1
53.9
48.4
57.9
46.1
48.1
46.6
43.8
43.8
37.8
43.2
45.4
48.4
45.8
46.4
47.8
47.8
46.6
47.5
44.9
53.1
65.6
55.5
-18.4
-61.2
-32.6
-2.0
17.4
28.9
25.8
18.2
10.2
9.3
5.5
-4.7
-33.2
' 4, 873. 8 5, 124. 9
490.3
420.7
437.8
402.8
401.9
390.7
408.8
414.1
410.1
422.4
425.9
499.4
do
do
do
do
do
1.4
1.8
83.9
'82.7
4, 789. 2 5, 039. 5
' 1, 956. 0 2, 042. 5
100.5
r 102 9
0
5.8
484.5
158.4
15.5
.2
6.1
414.3
145.2
11.9
.2
6.9
430.7
159.8
10.2
.1
6.7
396.0
168.6
5.8
.2
7.6
394.1
177.6
5.5
7.5
383.2
173.1
4.5
0
6.5
402.3
188.4
5.6
.1
8.5
405.4
185.0
5.2
.1
7.6
402.4
171.0
7.3
.2
7.0
415.3
177.2
7.1
.2
6.8
418.9
163.6
9.3
.1
7.0
492.3
174.5
12.6
' 874. 5
' 668. 2
r 349. 4
900.1
722.0
360.1
119.2
82.5
28.9
96.3
68.1
26.2
91.1
68.1
30.6
66.9
58.6
28.7
58.7
51.8
29.8
51.6
47.5
31.4
49.9
48.4
31.7
50.8
51.3
31.2
58.2
54.5
30.9
62.4
58.6
28.0
82.9
55.5
29.4
112.0
77.1
33.1
'48.5
385.7
48.7
144.4
445.6
3.7
4.0
52.1
3.6
5.1
39.1
4.0
5.7
38.2
4.2
9.3
31.6
4.4
13.5
29.1
4.1
17.0
29.4
4.3
18.4
30.4
4.1
19.1
32.4
4.1
19.2
33.3
4.6
16.7
39.1
3.7
9.8
43.0
3.9
6.7
48.1
999.6
272.2
98.9
628.5
982.1
265.2
103.5
613.4
938.3
279.5
96.0
562.8
905.7
265.3
99.4
541.1
904.7
264.2
100.6
539.9
922.1
273.2
106.6
542.3
951.0
281.3
111.5
558.3
976.9
284.5
110.3
582.0
995.1 1, 005. 2 1, 014. 5 1, 020. 0 1, 015. 3
267.7
262.5 264.3
277.5
264.8
108.7
104.6
104.3
101.4
104.3
608.9
632.9 647.7 651.5
649.1
982.1
265.2
103.5
613.4
159.2
.1
214.5
151.6
.1
222.6
163.9
(l)
229.2
154.3
.2
216.6
167.1
.4
207.7
166.0
.2
201.8
177.8
.3
193.1
179.6
.3
189.4
174.3
.4
194.3
177.1
.3
195.0
175.3
.1
208.4
do .
do
do
do
Liquefied gases
do
Refined petroleum products:
Gasoline (incl. aviation):
Production
Exports
Stocks, end of period ._
do
do
do
do
r 141. 2
do
1, 940. 0
do. . r 2 1
do
211.5
Prices (excl. aviation):
Wholesale, ref. (Okla., group 3)
$ per gal
Retail (regular grade, excl. taxes), 55 cities
(1st of following mo.). ... _ $ per gal
Aviation gasoline:
Production
mil. bbl
Exports
do
Stocks, end of period
do
Kerosene:
Production
do
Stocks, en d of period.
do
Price, wholesale, bulk lots (N.Y. Harbor)
$ per gal..
r
Revised.
<= Corrected.
1
Less than 50 thousand barrels,
cf Includes small amounts of "other hydrocarboiis
465.4
do
Lubricants
Stocks, end of period, total _.
Crude petroleum
_
Unfinished oils, natural gasoline, etc
Refined products
342.5
do.
do
mil. bbl_
Change in stocks, all oils (decrease,— ) - _ _ _ _ _ d o
Demand, total
Exports:
Crude petroleum __
Refined products
Domestic demand, total 9
Gasoline ___
Kerosene...
3, 880. 1
.113
(')
.115
.113
.123
.118
.115
.115
.113
.120
.110
.110
.118
.233
.242
.244
.242
.245
.242
.235
.240
.232
.233
.239
31.6
'1.8
7.0
1.5
(l)
6.5
1.7
.1
6.5
6.6
2.0
.1
6.0
2.2
.3
5.5
2.4
.1
5.3
2.6
.2
5.3
2.5
.1
5.5
2.2
.3
5.4
2.3
.2
5.6
2.2
.1
5.8
101.6
23.5
11.3
19.4
11.0
18.6
10.4
18.9
7.2
20.3
7.1
22.0
7.9
25.3
7.5
27.3
7.6
29.7
7.4
29.9
7.6
30.6
8.0
29.4
.113
.111
.111
.111
.111
.111
.111
.111
.111
shown separate ly.
9In<eludes da ta not sh own sep irately.
.111
.111
.111
.230
.239
and h:fdrogen r efinery input," rLOt
2.7
0)
.240
.229
§ Inclu des nonrnarketab le catalyst coke.
.237
S-36
SURVEY OF CURRENT BUSINESS
Unless otherwise stated in footnotes below, data
through 1968 and descriptive notes are as shown
in the 1969 edition of BUSINESS STATISTICS
1968
1969
Annual
March 1970
1970
1969
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan
PETROLEUM, COAL, AND PRODUCTS—Continued
PETROLEUM AND PRODUCTS— Continued
Refined petroleum products— Continued
Distillate fuel oil:
Production
mil. bbl
Imports
do _
Exports
do
Stocks, end of period
do
Price, wholesale (N.Y. Harbor, No. 2 fuel)
$ per gal
Residual fuel oil:
Production
mil bbl
Imports
do
Exports
do
Stocks end of period
do
Price wholesale (Okla No 6)
$ per bbl
69.4
7.3
.1
130.6
840.7
'48.1
'1.5
173.2
66 4
6.0
1
106 6
74 0
7.0
1
96 6
66.7
3.5
.1
99.8
67.3
2.6
1
110.9
71.3
2.2
2
132.6
73.6
2.8
.1
159.1
71 0
4.3
1
183 5
68.9
3.5
.1
197.7
70.5
2.3
.1
208.0
72.5
3.4
.1
201.0
.103
101
101
101
101
101
101
.101
101
.101
.101
.101
275 8
-•409.9
20.0
67.4
1.40
27.9
54.5
1.7
63.0
1 60
25 1
42 6
17
59 9
1 60
25 3
41 4
1.7
57 2
1 45
23 6
38 8
1.1
60 2
1 45
21 2
34 2
1.7
62 6
1 45
19 4
29 1
1.4
62 5
1 45
19.5
32.3
1.1
65.1
1.45
19 2
34 1
1.5
66 1
1 45
19.5
35.1
1.0
65 6
1 45
19.5
39.0
1.6
64.2
1.45
21.4
33.8
1.6
62.7
1.45
' 314. 9
24 3
24.5
22 9
25 4
24 9
26.8
25 6
27.5
26 8
27 8
28 3
28 2
28 4
29.2
29.9
27 6
30 2
25.1
28 9
26.3
29 3
25.6
29.6
65.7
'18.0
14 0
4.7
1.9
13 9
4.4
.8
13 8
5.6
1.4
14 0
5.5
1.4
13 9
5.7
1.7
13 5
5.3
1.9
12 8
5.5
1.1
12 8
5.8
1.7
12 8
5.4
1.5
12 7
5.7
1.2
12 5
5.8
1.1
13.6
270
270
270
270
270
270
270
.270
270
270
270
.270
mil bbl
do
135 5
20.1
5.5
21.9
6 2
24.4
8.5
27.3
10 2
28.4
12 9
28 3
14 3
26.1
15.2
23.4
14 9
19 5
15.1
16.1
13.5
13.2
10.4
14.0
Liquefied gases (incl. ethane and ethylene):
Production total
mil bbl
At gas processing plants (L P & )
do
At refineries (L R G )
do
Stocks (at plants and refineries)
do
469 3
351.3
118 1
76 2
40.9
31.8
91
58.4
38 9
29.8
9 1
52 5
43.0
32.5
10.5
51.7
41.4
31.1
10 2
57 2
42 7
31.9
10 8
65 6
40.8
30.1
10 7
72 5
41.7
30.4
11.3
78.5
42 1
30.9
11 1
82 4
40.7
30.4
10 3
83.6
42.8
32.6
10 2
79 9
42.3
32.4
9.9
71.5
Jet fuel (military grade only) :
Production
Stocks end of period
mil, bbl
do
Lubricants:
Production
do
Exports
do
Stocks end of period
do
Price, wholesale, bright stock (midcontinent,
f o b Tulsa)
$ per gal
Asphalt:
Production
Stocks end of period
Asphalt and tar products, shipments:
Roll roofing and cap sheet
Shingles all types
Asphalt siding
Insulated siding
Saturated felts
do
do
do
do
thous. sh. tons
7 060 ' 5, 463 3 444
3,154 ' 2, 589 1,767
3,905 ' 2, 874 1,678
78 045
31 099
46 946
82 683
34 037
48, 646
4 612
2 001
2 611
5 022
2,160
2,862
5 159
2,189
2,970
6 136
2 473
3,663
7 322
2 804
4,518
8 082
3,138
4,944
7 922
3,086
4,836
8 185
3,249
4,936
8 871
3 565
5,306
8 850
3 630
5,221
418
411
875
368
346
901
32
10
64
24
13
70
22
23
68
26
34
73
33
34
78
32
40
83
31
35
76
34
40
80
42
27
85
39
50
84
30
23
73
'22
17
'68
5 466
5 405
3 949
5 580
5 179
4,241
5,824
5,547
4,537
5,255
5,427
4,521
5,274
5,025
4,788
21
7
51
PULP, PAPER, AND PAPER PRODUCTS
PULPWOOD AND WASTE PAPER
Pulpwood:
Receipts
Consumption
Stocks end of period
Waste paper:
57 155
58 358
5 031
62 277
56 813
4,788
4 860
5 153
4 671
4 666
4 829
4 458
5 057
5 387
4 254
4 845
5 050
4 092
4 967
5 320
3 771
5 258
5 413
3,597
5 224
5 078
3 770
10 285
10 446
586
608
882
584
827
580
931
570
903
585
915
574
883
577
792
608
909
581
883
586
'908
'608
818
598
795
608
37 903
1 725
24 308
2,508
41 057
1 701
27, 628
2,337
3 249
3 049
3 433
3 603
3 536
3 329
3 558
3 379
3 594
1 979
2 344
2 397
188
206
189
2 273
2 420
189
2 456
181
198
133
2,280
191
3 647
2 110
141
2,456
192
3,263
131
2,180
197
do
do
4 237
1 540
3 584
4 241
1 585
3 564
333
128
288
364
134
308
347
129
298
363
135
305
362
135
295
338
132
277
358
133
292
345
132
297
368
131
306
359
135
310
341
123
286
Stocks, end of period:
Total all mills
Pulp mills
Paper and board mills
Nonpaper mills
361
131
303
do
do
do
do
741
278
376
86
796
230
467
99
771
322
374
75
807
331
396
79
815
313
422
80
862
336
442
84
840
327
430
83
857
344
433
80
802
284
443
75
790
286
432
72
780
293
418
70
'787
284
431
'72
839
321
440
77
796
230
467
99
Exports, all grades, total
do
1 902
1 231
i 2, 103
i 744
i 1 359
113
31
82
125
37
88
169
67
102
178
74
104
212
70
142
171
61
111
207
do
196
79
118
148
68
80
193
60
133
182
63
119
220
72
148
200
63
137
do
3 540
3 238
14 040
i 298
1 3, 743
289
22
267
324
18
305
313
26
288
355
27
328
331
23
308
349
27
322
338
do
307
18
289
320
22
299
400
30
370
356
24
332
358
35
323
304
24
280
ri 50 753
53 498
rl
22 110
23 476
'i 24 298
25*548
'
1
155
136
' l 4 190 4 337
4 433
1*995
2 093
4 212
1 874
2 025
4 676
2 051
2* 236
4 508
1 955
2 156
4 597
1 974
4 535
1 968
2 180
4 227
1 822
2 029
4 513 '4 367 ' 4 711 p 4 455
1,927 ' 2, 074 p 1, 958
1 976
2,047 ' 2, 228 p 2, 150
2 151
p 4, 263
p 1, 901
p 2, 033
thous cords (128 cu ft )
do
do
Stocks end of period
WOODPULP
Production:
Total all grades
Dissolving and special alpha
Sulfate
Sulfite
do
thous sh tons
do
do
do
Groundwood
Defibrated or exploded
All other
Imports all grades total
All other
671
302
157
131
3 418
' 156
2 251
124
144
199
151
196
127
co
145
9fi
312
156
150
2,482
210
PAPER AND PAPER PRODUCTS
Paper and board:
Production (Bu. of the Census):
All grades total unadiusted thous sh
Paper
Paperboard
Wet-machine board
Construction paper and board
New orders (American Paper Institute) :
Wholesale price indexes:
Printing paper
Book paper A grade
Paperboard
Building paper and board
v
' Revised.
Preliminary.
tons
do
do
do
do
50 207
1957 59 100
do
do
do ___
101 4
119 6
92 2
92.8
53 697
12
ooo
12
301
12
377
12
385
2*221
12
390
11
376
12
382
r 4 453
102 7
123 2
95 9
95.1
4 185
T 4 553
102 7
123 2
93 7
95.9
102 7
123 2
95 8
95.2
4 236
4 721
4 618
4 596
4
102 7
121 0
92 2
97.3
102 7
121 0
92 6
98.2
102 7
121 0
93 6
102 7
121 0
93 5
100.4
102 7
122 1
93 5
100.7
102 7
123 2
93 5
99.4
1
11
374
ceo
4 480
99 .*6
9
368
'12
397
p336
^317
' 4 720
4 386
p 4 197
102 7
123 2
95.9
94.6
102 7
126.4
96.0
94.4
Reported annual total; revisions not allocated to the months.
Feb.
SURVEY OF CURRENT BUSINESS
March 1970
Unless otherwise stated in footnotes below, data
through 1968 and descriptive notes are as shown
in the 1969 edition of BUSINESS STATISTICS
1968
1969
1969
Jan.
Annual
S-37
Feb.
Mar.
Apr.
May
June
1970
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
PULP, PAPER, AND PAPER PRODUCTS—Continued
PAPER AND PAPER PRODUCTS— Con.
Selected types of paper (API):
Fine paper:
Orders new
thous sh tons
Orders unfilled end of period
do
Production
Shipments
Printing paper:
Orders new
Orders unfilled end of period
3 133
r222
255
274
243
260
244
269
237
271
259
279
260
264
279
240
261
257
264
244
264
'289
'272
251
257
p238
"255
do
do
2,864
2,831
3 070
3,072
264
265
248
247
256
256
258
258
262
263
265
264
237
238
256
257
252
251
'283
'283
250
252
P239
P239
do
do
6 865
6 918
594
498
557
557
620
520
585
555
599
531
573
551
543
512
r
578
'523
'555
••516
'628
'533
549
526
i>536
P477
T
2 880
502
477
do
do
6 737
6 737
7 032
7 037
592
592
551
551
617
617
596
596
586
586
585
585
547
547
590
' 590
'582
587
'631
'631
570
570
J>585
P585
do
do
5 012
5 142
264
258
463
272
422
282
467
292
416
261
418
253
434
283
403
247
440
269
'414
' 264
'432
'254
402
256
p431
p 258
do
do
4 992
4 931
5 152
5 107
443
444
428
423
467
460
418
414
433
422
434
433
383
390
434
428
'429
' 428
'434
'431
430
423
p419
P412
Newsprint:
Canada:
Production
Shipments from mills
_ _
Stocks at mills, end of period- .
do
do
do
8 031
8 096
8 758
8 741
203
220
710
644
268
681
615
334
743
726
351
690
684
358
748
793
311
720
721
309
726
720
315
751
705
362
706
725
343
794
804
333
760
808
285
730
795
220
751
661
310
United States:
Production ._
Shipments from mills
Stocks at mills, end of period. __
do
do
do
2 935
2 946
3 232
3 233
27
27
280
269
38
252
251
38
282
277
44
267
264
47
280
271
55
275
111
53
249
251
51
271
259
63
255
257
62
288
291
58
279
290
46
255
275
27
279
261
45
Consumption by publishersd*
__do
Stocks at and in transit to pubtlishers, end of
period
hhous sh tons
7,025
7,344
564
541
638
616
661
607
550
582
606
666
682
631
563
633
699
644
655
673
662
678
647
681
683
676
686
665
699
737
Imports
.
_ _
do
Price, rolls, contract, f.o.b. mill, freight allowed
or delivered
$ per sh ton
6 462
6 790
489
510
532
567
532
601
604
539
606
614
571
625
545
146 10
146 10
146. 10
146. 10
146. 10
146 10
146 10
146. 10
146 10
146 10
146. 10
Production
Shipments
Coarse paper:
Orders, new
Orders unfilled end of period
Production
Shipments
Paperboard (American Paper Institute):
Orders, new (weekly avg.)
thous. sh. tons__
Orders, unfilled §
do
Production, total (weekly avg.)
do
141 40
454
869
480
479
939
510
467
894
509
530
943
512
556
1 009
528
523
1 042
509
534
1,032
534
528
1 035
529
464
1 048
463
504
963
514
506
963
489
542
1 004
524
526
965
523
479
939
554
509
975
'522
521
855
521
Paper products:
Shipping containers, corrugated and solid fiber,
shipments
mil. sq. ft. surf. area.. 173, 834
184, 442
14, 884
14,141
15,474
15, 796
16, 056
14, 765
14, 754
15, 519
16, 737
17, 856
14, 300
14, 515
14, 469
14, 152
137 4
134.1
139 1
141.4
143.4
139 6
138.4
144.3
147 3
v 163. 0
54 80 '47 64
104 49 '103 06
49 26
59 45
47 99
103 42
50 51
59.03
.250
.238
.255
84
200 93 '187
r
187 88 !62 37
417 14 '424 39
198 86
166 97
439 52
20 32
23 11
Folding paper boxes, shipments, index of physical
volume
1947-49-100
138.0
RUBBER AND RUBBER PRODUCTS
RUBBER
Natural rubber:
Consumption
.
thous Ig tons
Stocks, end of period
do
Imports, incl. latex and guayule
do
581 86
107. 76
540. 17
588 53
103 42
585 28
50 41
98 00
21 81
46 40
92 15
49 00
50 01
104 71
59 78
49 29
107 43
54 39
50 54
108 52
48 90
49 54
107 35
46 66
43 89
104 91
40 84
46 29
104 45
55 19
51 73
107 41
49 49
.198
.262
.221
.231
.259
.270
.260
.268
.285
.314
.279
1 1 896 15
369 98
2 131 10
2 250 5
2 003 7
439 5
181 63
169 56
379 54
174 97
163 47
388 14
193 14
174 07
392 56
186 20
163 34
401 22
191 42
165 94
407 01
183 78
168 46
413 46
179 34
147 88
420 86
182 09
157 45
428 41
190 25
176 32
423 78
do
291. 03
2 226 49
4 50
7 03
13 55
25 03
23 22
21 60
18 32
23 65
21 68
24 44
do
do
do
257. 22
250. 43
29 58
237. 91
241 21
30 25
21.71
21 32
29 76
20.22
21 02
30 42
22.12
21 90
30 43
21.69
20 74
31 78
19.74
20 80
30 59
20.16
22 38
30 78
18.06
17 00
31 43
18.93
17 88
31 73
19.27
19 87
31 15
21 31
23 02
29 90
'2203, 060
207, 826
Price, wholesale, smoked sheets (N.Y.)__$ per lb-_
Synthetic rubber:
Production
Consumption
Stocks, end of period
thous Ig tons
do
do
Exports (Bu. of Census)
Reclaimed rubber:
Production
Consumption
Stocks, end of period.-.
.265
.251
23 36
17.53
17.16
' 17 76 17 52
' 31 08 30 25
TIRES AND TUBES
Pneumatic casings, automotive:
Production
thous
18,081
17, 170
18, 269
17, 283
16, 882
17 435
15, 447
15, 829
17, 752
19 151
16, 738
17, 789
Shipments, total
Original equipment.
Replacement equipment
Exports
do
do
do
do
'2199
155 2 204
' 2 58 392 2 55
'2137,562 2 146,
'23 202
22
777
704
650
423
15 223
5 062
10074
14 160
4 551
9 497
20 046
4 966
14, 860
87
112
17 095
5 212
11 645
18 006
4* 744
13 077
20 115
5* 009
14 847
16 681
2 514
13 973
194
15 678
3 428
12' 025
224
19 494
5 519
13 718
2o 390
5* 836
14 249
14 407
4 750
9 519
138
13 746
4 041
9 505
200
Stocks , end of period
Exports (Bu. of Census)
do
do
' 42 128 49 152
2 2 364
2 518
45 124
48 469
174
45 135
9fU
44 317
147
44 686
275
43 386 '42 331
229
322
44 898
187
49 152
166
156
Inner tubes, automotive:
Production..
Shipments.
Stocks, end of period
Exports (Bu. of Census)
do
do
do
do
43 791
41 657
43 957 2 44 860
11 828
11 191
1 390
1 098
3 899
4 720
11 203
3 402
3 458
11 871
3 375
4' 041
11 499
3 092
3 495
11 103
3 576
3 826
11 171
3 Qiq
4 361
11 020
3 263
3 324
11 125
1 30
01
3 160
3 929
11 088
fifi
3 073
3 172
11 191
83
84
_
53
73
86
3 584
3 466
11 190
51
238
219
50 365
48 131
203
191
3 756
3 602
11 546
3 562
3 600
11 586
'Revised.
* Preliminary.
1 Revisions for Jan.-Aug. 1968 for synthetic rubber
consumption are as follows (thous. Ig. tons): 162.96; 154.29; 162.07; 155.85; 162.67; 153.44; 135.82;
154. 63.
2 Annual total includes revisions not distributed to the months
115
185
47 433
o en
QQ
258
111
one
oo
7Q
c? As reported by publishers accounting for about 75 percent of total newsprint consumption.
§ Monthly data are averages for the 4-week period ending on Saturday nearest the end of the
month; annual data are as of Dec. 31.
SURVEY OF CURRENT BUSINESS
S-38
1968
Unless otherwise stated in footnotes below, data
through 196^ and descriptive notes are as f-hown
in the 1969 edition of BUSINESS STATISTICS
1970
1969
1969
Jan.
Annual
March 1970
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
31 249
25 984
Jan.
Feb.
STONE, CLAY, AND GLASS PRODUCTS
PORTLAND CEMENT
J
397 448 J409 564
19 088
20 096
26 106
34 646
39 °71
41 012
42 386
42 988
43 086
43 585
7 556 8 7 288 5
944 3
192 5
1 705 5 1 792 4
430 7
16 6
96 0
467 2
18 9
108 5
601 0
22 0
133 6
693 9
23 8
153 5
705 6
93 3
163 5
698 5
21 3
183 1
699
1
9
21
174 7
669 4
IQ o
170 7
654 96
18
177.8
686
3
9
04
167.6
220 6
900 n
17 2
14 9
17 9
17 8
17 7
18 4
18 9
16 9
17 8
19 4
274 5
9
CLAY CONSTRUCTION PRODUCTS
Shipments:
Brick , unglazed (common and face)
fifr i r t n r a l til
pxr^pnt fapin^
t b n m sh tn
Sewer pipe and fittings vitrified
Facing tile (hollow) , glazed and unglazed
do
Floor and wall tile and accessories, glazed and unglazed
mil so ft
Price index, brick (common), f.o.b. plant or
N Y dock
1957-59—100
84 5
117 1
' 529 6 452. 7
r Ig g
20 0
127.4
136.0
r 15 4
16 6
21.0
23 0
21 8
24 8
25 1
25 5
26.2
23 8
24.0
23.8
25.0
'20. 5
120 4
120 5
120 5
122 2
1" 4
122.6
122 7
122 7
123.2
123 2
123.5
GLASS AND GLASS PRODUCTS
Flat glass, mfrs ' shipments
thous $
Sheet (window) glass, shipments
Plate and other flat glass shipments
Glass containers:
Production
do
do
thous gross
General-use food:
Narrow-neck food
do
Wide-mouth food (Incl. packers' tumblers,
387 469
416 905
'109 140
101,002
98, 425
108, 338
139 391
248 078
150 123
9
66 789
39, 560
'69 580
36, 998
64 004
36, 385
62, 040
37, 180
71,158
(6)
259 373
22 370
19 362
23 205
/8\
9
50 922
18 627
17 851
20 801
(6)
24 179
1 858
1 737
2 174
1 882
m
57 838
4 703
4 311
4 546
4
21 056
CQO
22, 743
21, 527
22, 362
21,377
22, 879
20, 579 ^ 19, 460
99 94Q
21 795
22 693
29 732
20 627
18 554
1 876
1 970
2 055
2 590
2,817
1 919
1,557
' 1, 737
1,705
4 580
4 745
4 709
5 °69
5 333
5 361
4 595
r 5 095
4 370
r 6, 030
' 4, 073
'1,710
3,990
3,192
1,524
Beverage
Beer bottles
Liquor and wine__
do
do
do
(6)
(6)
(8)
55 848
51 086
20 324
3 454
3 617
1,557
3 386
3 406
1,513
4 226
4 328
1,818
4 665
4* 586
1 743
5 098
4,573
1,598
5,952
4,359
1,823
5,400
5,114
1,594
4,841
4,927
1,668
4,561
4,747
1,840
4,093
3,922
1,853
4,142
3,434
1,607
Medicinal and toilet
Chemical, household and industrial
Dairy products
do
do
do
(6)
(6)
35,916
4,455
583
2 996
'380
3 064
3 290
3 075
3 103
2 983
2 556
2 902
62
386
48
2,884
289
46
do
23 518
30, 167
27 146
28 512
Stocks, end of period
(6)
434
55
30 798
20, 980
22,453
21 949
379
45
366
48
366
48
30 700
31 680
31,962
r
22 151
r
17 915
^50
2,844
253
34
31, 263
33, 051 '30 167
33, 024
21 231
2 672
2 544
r 979 - 1 177
2650
543
2510
'493
381
45
3,020
366
48
3 038
330
44
31,470
30, 960
29, 275
397
44
3 075
' 381
GYPSUM AND PRODUCTS (QTRLY)
Crude gypsum, total:
Imports
Production
5 454
10 018
1 022
2*189
1 450
2,615
1 864
2,729
do
8 844
2 208
2,317
2,304
do
do
4 935
'301
692
78
1,497
1,316
81
76
do
do
536
778
119
165
127
178
124
194
999
8 283
269
251
2 025
236
2,245
70
thous sh tons
do
Calcined, production, total
Gypsum products sold or used, total:
Uncalcined uses
Industrial uses
Building uses:
Plasters:
Base-coat
All other (incl. Keene's cement)
Lath
Wallboard
All other.
mil sq ft
do
do
292
2 254
78
67
TEXTILE PRODUCTS
WOVEN FABRICS
Woven fabrics (gray goods), weaving mills:J
Production total 9
mil linear vd
Cotton
do
Manmade
fiber
do
Stocks, total, end of period 9 o"
Cotton
Manmade
fiber
do
do
do
Orders, unfilled, total, end of period 9 \ do
Cotton...
do
Manmade
fiber
do
12 693
7 408
5 052
12 908
7 159
5 547
2 1 O7fl
1 028
1 008
578
438
1 229
2 693
2 513
1 018
577
433
1 034
2 686
2 569
2 9§3
2 526
2 440
986
552
490
1 366
739
611
1 406
1 296
1 252
1 245
1 249
1 275
651
610
1 333
630
603
669
652
1 360
671
674
1 372
' 691
668
1 376
674
689
1 343 ' 1 335 1,406
659
639
663
732
'682
668
3 098
1 627
1 384
9 777
1 535
1 163
3 016
1 588
1 338
3 041
1 564
1 374
3 067
1 619
1 343
3 141
1*695
1 413
3 138
1 601
1 443
3 170
1 617
1 470
3 139
1 634
1 490
3 024
1*593
1 358
2 902
1,496
1 333
2 847 '2 838
1 500
1 498
1 265
1 975
80
528
1,610
5,789
659
739
677
604
640
596
634
596
2
588
413
561
432
965
533
419
2,777
1,535
1 163
COTTON
Cotton (excluding linters):
Production:
GinningsA
-__
thous. running bales
Crop estimate, equivalent 500-lb. bales
thous. bales
Consumption
do
Stocks in the United States, total, end of period
Domestic cotton total
On farms and in transit
Public storage and compresses
Consuming establishments
Foreign cotton, total
do
do
do
do
dn
10, 917
10 948
8 568
5
10,917
*10 834
5
8 994
2 806
9
19 Q78
19 3^1
I 155
1 548
9,807
1 404
9, 653
1 075
9,312
K9
17
4C
1 9 Q9fi
647
10 948
664
656
644
11 458
9 318
964
8,626
8 303
8 O£Q
824
7,934
678
6,762
538
5,925
506
5,203
4*;
41
4fl
34
33
n ' 41 ^
' Revised.
1 Reported annual total; revisions
not allocated to the months.
2 Data
3
cover 5 weeks; other months, 4 weeks.
Ginnings to Dec. 13.
* Ginnings to Jan. 16.
r op fo the year 1968
6 Data not
!iP
^
!
'
available
owing
to
lack
of
complete
reports
from
tn
Crop for the year 196
?
^ industry.
°Includes data not shown separately.
^Effective Aug. 1969 SURVEY, data (1964-Apr. 1969) reflect adjustments to new benchmarks; see Bureau of Census reports: Woven Fabrics (1964-68), Series M22A-Supplement
and (Jan.-Apr. 1969), M22A (69) 1-4 Supplement.
« Corrected.
2 792
1 n (371
7 469
7 436
1 798
2
649
9
6 50
6? 489
400
4,466
1 693
31
629
634
16 769
16 736
11 031
4,258
1 447
33
9
15 46
15 439
9,619
4,526
1 294
23
2
810
14 056
14 035
5 466
7,526
1 043
21
8,390
3 9, 107
4 9, 826
7 9, 942
'10,014
'646
r 2 717
638
13 102
13? 083
2 906
9,079
1 098
10
129 351
I 334
1*404
9, 96539
1 7
17
11,449
11 433
1,275
8,824
1 334
16
c^Stocks (owned by weaving mills and billed and held for others) exclude bedsheeting'
toweling, and blanketing, and billed and held stocks of denims.
T Unfilled orders cover wool apparel (including polyester-wool) finished fabrics; production
and stocks exclude figures for such finished fabrics. Orders also exclude bedsheeting, toweling,
and blanketing.
ATotal ginnings to end of month indicated, except as noted.
SURVEY OF CURRENT1 BUSINESS
March 1970
Unless otherwise
stated in footnotes below, data
through T968 and descriptive notes are a° shown
in the 1969 edition of BUSINESS STATISTICS
1968
1969
1969
Annual
S-39
Jan.
Feb.
Mar.
Apr.
May
June
1970
July
Aug.
Sept.
Nov.
Oct.
Dec.
Jan.
Feb.
TEXTILE PRODUCTS—Continued
COTTON— Continued
Cotton (excluding linters)— Continued
Fxports
thous bales
Imports
do
Price (farm), American upland
cents per lb._.
Price, middling 1", avg. 12 markets _ ___ do
COTTON MANUFACTURES
Spindle activity (cotton system spindles) :
Active spindles last working day, total
Consuming 100 percent cotton
Spindle hours operated, all fibers, total
Average per working day
Consuming 100 percent cotton
mil
do
biL_
do
do
Cotton yarn price 36/2 combed knit
$ per Ib
Cotton cloth:
Cotton broadwoven goods over 12" in width:
Production (qtrly )
mil. lin. yd
Orders, unfilled, end of period, as compared with
avg. weekly production
No. weeks' prod .
Inventories, end of period, as compared with
avg weekly production No. weeks' prod
Ratio of stocks to unfilled orders (at cotton
mills) end of period, seasonally adjusted- ..
Exports raw cotton equiv
Imports raw cotton equiv
thous bales
do
Mill margins:
Carded yarn cloth average
cents perlb-_
Combed yarn cloth average
do
Blends (65% polyester-35% cotton)
do
Prices, wholesale:
Print cloth 39 inch 68 x 72 cents per yard
Sheeting class B 40-inch 48 x 44-48
do
3 870
95
9 SQ7
46
122.0
1
22 9
9
00
13 1
128.0
493
85 9
19 6
194
125.6
476
80 9
1 049
i
130
3
568
5
363
6
194
3
278
1
147
1
141
4
168
13
123
Q
176
1
382
3
19.4
22 5
19.7
22 2
20.6
22 1
20.7
22 0
20.1
21 9
21.3
21 9
21.6
21.9
20.5
21.6
19.4
21.4
21.7
21.7
21.4
21.9
20.0
22.0
19.1
22.0
19 9
19 9
13 1
10.1
505
6 6
19 9
13 0
19 9
13 0
9.8
490
6 4
19 9
19 9
210.2
406
2
6 4
19 8
12 8
9.6
480
6 2
19 7
12 7
9.6
480
6.1
19 7
12 6
12.1
483
277
19 7
12 6
9.5
475
6 0
r 2 10. 6
486
80
20 0
13 1
10.0
501
6 5
19.6
12.4
312.1
488
7 9
20 0
13 1
9.8
490
6 4
' .424
'26.7
19.4
12 3
9.3
.466
5.9
1 032
1 032
1 032
1 027
1 027
1 024
1 024
1 024
1.027
1 027
1 024
12.8
13.1
15.0
13.0
5.1
6.0
5.6
39
.42
.43
ee
(l\
1q o
2 12. 2
2
PC
7 476
13 8
15 0
13.2
5 3
6 0
56
40
49
43
$ per lb_.
do
do
WOOL MANUFACTURES
Knitting yarn, worsted, 2/20s-50s/56s, American
system, wholesale price
1957-59—100
Wool broadwoven goods, exc. felts:
Price (wholesale), suiting, flannel, men's and
K/\TTO> / /-, v> i-v.il!
ir>KT en
1 nn
5.0
5 2
.41
43
39
13.0
5.0
5.2
40
.39
17.5
6.8
.38
12.9
12.7
5.3
5.4
.40
.41
30 1
43 2
39 1
48 9
34.9
44.0
43.92
109. 01
61.02
5.4
42
15 4
29 6
35 3
60 9
29 6
71 8
33 5
47 4
28.2
63.5
23 7
45.5
27 1
57.2
37.73
693.25
64.40
42.53
43.27
3 108. 02 3109. 27
59. 16
58.60
43.08
109.24
55.01
42.92
107. 86
55.15
42.71
108. 08
58.70
42.73
108.30
60.94
42.81
107.28
59.60
43.02
106. 90
60.22
43.51
107. 42
60.03
44.03
107. 60
59.52
44.06
107. 46
60.36
43.96
107. 87
60.71
17 3
18 6
17 8
18 4
18 8
18 4
18 5
18 4
18 5
18 4
19 0
18 4
19 0
18.4
19 0
18 5
19 0
18 8
19.0
19 0
19 3
18 5
331 2
573 3
100, 539
127, 484
41 063
159, 404
5,231
5,497
2 416
4,804
' 441. 4
r 422 5
r 109 7
'r 445. 1
430. 8
9,048
12, 366
3 548
13, 929
78 4
75 6
67 0
59 3
259.8
247 6
70 2
' 234. 1
215 6
48 7
.61
90
61
90
1.42
1.42
61
90
61
89
1.42
1 42
9,285
11,878
2,335
15, 857
.61
.89
1.43
222.9
29.6
10.9
3.1
17.1
1.207
.840
1.180
1.221
.862
1.174
1.245
.880
1.195
93.1
91.0
8,774
11, 122
2, 979
12, 989
' 248. 1
223 6
r
51 5
263.2
249.2
'56.9
259.8
247.6
70.2
.61
.89
61
.89
1.42
1.43
.61
. 89
1.42
.61
.89
1.42
761 2
143.8
422.4
130 1
128.0
124.7
16.9
1.218
.850
1.175
1.210
.890
1.089
92.3
92.3
92. 6
103 0
103.0
1.220
.850
1.195
1.220
.850
1.195
1.220
.850
1.195
1.220
.850
1.195
92.6
92.6
92.6
92.3
1.239
.880
1.195
1.220
.858
1.195
1.220
.850
1.195
92.9
92.9
92.9
9.7
7.0
109 1
1f»9 1
ins n
ins n
9 Includes data not shown separately.
ins o
r
'27.3
16.4
7. 2
15.9
5.8
12.9
5.8
1.198
.890
1.075
1.185
'.884
1.106
2
16. 1
45.1
'48.1
66 1
68 3
mo i
1.220
.850
1.195
6.5
9.9
7.6
2
7.5
4.2
23.7
14.0
18.2
1 41
9,861
13, 762
5, 031
16, 317
61
89
1.41
14.7
6.7
17.5
9.3
14.7
19.2
7.3
61
89
19.5
2 9.8
14.2
7. 7
12.3
7.1
19 9
in9 i
2
18.8
27.6
15.9
10.8
18.9
23.5
2
8.9
22 0
11.3
8,710
13,019
5,872
8,726
78.4
75.6
1,387.5
438.2
109 1
2
8,887
11,636
4,533
12, 227
80.5
56 2
173.6
474.0
6.9
9, 292
11,859
1,003
13, 997
68.8
54 5
181.9
501 5
18.2
1
9,886
10, 433
4,564
16, 946
784 4
7.5
9.2
2.7
109 1
9,952
8,478
2,178
17, 090
43. 86
108. 00
60.43
435. 1
422.1
139.6
r 445. 3
' 443. 3
' 129. 9
1, 268. 6
408.0
179 9
86.3
679.4
227 6
109 1
7,554
10, 983
2,951
18, 333
43.92
108. 81
61.11
1, 368. 2
183.9
187.5
1,403.4
195.8
189. 1
r 121 8
9,801
13 132
3 017
18 863
1,410.9
436.5
199 5
219.0
93.8
189.2
95.7
inn o
'1,380. 8
191.3
191.8
4,237
6,807
2 900
5 767
238.3
91.4
249 4
119.6
243 3
'1,367. 4
203.4
190 4
l
2
3
' Revised.
Season average.
For 5 weeks; other months,
4 weeks.
Beginning
4
1969, the average omits two
cloths
previously
included.
Revised
total;
revisions
not
5
6
distributed by months.
Less than 500 bales.
Average for 6 months, July-Dec.
51
12.3
8 0
16 1
256 0
559 6
Prices, manmade fibers, f.o.b. producing plant:
Staple* Polyester, 1 5 denier
$ per Ib
61
Yarn* Rayon (viscose), 150 denier
do
85
1.42
Acrylic (spun) knitting °/20, 3-6D do
Manmade fiber and silk broadwoven fabrics:
Production (qtrly.). total 9
mil. lin. yd-- r 5, 203. 6
Filament yarn (100%) fabrics 9
do
T 779 g
Chiefly rayon and/or acetate fabrics
do
Chiefly nvlon fabrics
do
Spun yarn (100%) fab exc blanketing 9 do
'2 749 4
Rayon and/or acetate fabrics and blends
r
678. 0
do
'•I 751 9
Polyester blends with cotton
do
Filament and spun yarn fabrics (combinations
r 482. 9
and mixtures)
mil lin yd
Wool prices, raw, clean basis, Boston:
Good French combing and staple:
Graded territory,
fine
Graded fleece, 3A blood _
Australian, 64s, 70s, good topmaking
13 2
26.3
45.2
Exports: Yarns and monofilaments
thous. lb__ 96, 390
Staple, tow, and tops. _ _ _ _ _do _
108 253
4
Imports: Yarns and monofilaments
do
59 303
Staple, tow, and tops _ _ - .
do
217 707
Stocks, producers', end of period:
Filament yarn (rayon and acetate)
mil. Ib
59 4
59 o
Staple incl tow (rayon)
do
Noncellulosic fiber, except textile glass:
Yarn and monofilaments
do
194.3
Staple incl tow
do
210 9
Textile glass
fiber
do
47 3
mil. Ib
do
do
do
12.6
12 4
1,606
'1 810
1 824
MANMADE FIBERS AND MANUFACTURES
Fiber production, qtrlv total
.
mil. Ib '5 159 5 5 519 8
Filament varn (rayon and acetate)
--- do
774 4
805 2
739 i
Staple incl tow (rayon)
do
758 8
Noncellulosic, except textile glass:
Yarn and monofilaments
_ _
_ do
'1 662 1 1 766 9
r i 550 4 1 718 7
Staple incl tow
do
402 7
501 0
Textile glass
fiber
do
WOOL
Wool consumption, mill (clean basis):
Apparel class
_
_
Carpet class
Wool imports clean yield
Duty-free (carpet class)
3
2
20.2
22.1
1. 185
.865
1.095
SURVEY OF CURRENT BUSINESS
S-40
1968
Unless otherwise stated in footnotes below, data
through 1968 and descriptive notes are as shown
in the 1969 edition of BUSINESS STATISTICS
1969
1969
Annual
March 1970
Jan.
Feb.
Mar.
Apr.
May
June
1970
July
I
Aug. | Sept.
1
Oct.
Nov.
Dec.
Jan.
20, 306
17, 631
17, 881
Feb.
TEXTILE PRODUCTS—Continued
APPAREL
Hosiery shipments
Men's apparel, cuttings:
Tailored garments:
Suits
Overcoats and topcoats
225, 588
thous. doz. pairs
241, 690
'18 331
18, 514
20 316
18, 360
18, 951
22, 303
20, 771
21, 144
20, 897
24, 166
20, 564
3, 784
20 829
1,900
1 781
2 038
1,912
1,765
1 174
1,752
1,625
1,850
290
1 978
3,230
218
286
313
317
323
213
305
298
338
1 240
1 302
1,234
855
1,026
14, 040
1,354
14,097
thous. units
do
r
Coats (separate), dress and sport
do
Trousers (separate) , dress and sport
do
Shirts (woven fabrics) , dress and sport
thous. doz
Work clothing:
Dungarees waistband overalls, jeans
do
Shirts
do
r
14 237
165, 104
14 136
167, 360
1,354
13, 367
13,635
1 299
14 433
14,341
15,841
1 136
14, 472
13 023
1,182
14, 798
r
21 771
23 302
1,974
1 989
1 957
1,886
1,953
1 893
1 649
1,871
1,990
2,272
r
7 173
r
8 472
3 590
628
293
588
315
675
290
612
205
674
297
709
285
789
247
698
285
800
315
746
345
r 21, 592
1,765
20, 976
1 708
23 017
1 435
26 035
1,247
25 458
1,405
22 413
1,804
20 391
592
536
360
1,707
19 089
1,727
319
1,679
?0 614
8 152
19, 859
255 051
5 675
15 2Q3
r
8 168
14 460
7 694
1,180
1 240
1 ^74
1 178
1 188
662
576
Women's, misses', juniors' apparel, cuttings:
Coats
.thous. units
Dresses
do
Suits
do
Blouses and shirts
Skirts
thous doz
do
r
T
4 470
r
277 958
r
648
602
601
739
541
20,068
496
1 129
1 160
1,074
598
830
425
738
1, 676
'213
1,378
1, 102
13, 923
1,052
11, 390
r
r
116
2, 072
r
1,796
825
'330
728
293
1, 772
18, 169
1,503
16, 673
72
1 308
T
500
1 100
2,107
497
22,148
501
1 119
1 543
9
683
r
r
T
371
r
389
443
TRANSPORTATION EQUIPMENT
AEROSPACE VEHICLES
Orders, new (net), qtrly. total...
.mil. $..
U.S. Government._
do
Prime contract..
do
Sales (net), receipts, or billings, qtrly. total do
U.S. Government...
do
27,168
16,577
24,575
25 592
16, 635
6,450
4 370
5 566
6 047
3 941
4,401
2 466
3,758
6 339
4 289
5,631
4 082
5,122
5 912
4 012
Backlog of orders, end of period 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. $
30,749
16,343
16,608
3,951
31, 346
16, 788
17 303
4 146
29,432
14,978
16 346
4 192
29 151
15, 048
16 160
3 816
5,083
4 772
4 045
4 306
2,834
3 029
2 942
2 792
Aircraft (complete):
Shipments 0
Airframe weight 0 .
Exports, commercial.-.
do
thous. Ib
mil. $
4 355 1 3 594 3"
76 202
60 152
1 403 1 1 239 2
338 4
5 858
133.4
359 9
5 598
153 8
367 4
6 524
139 8
346 4
6 Oil
116 5
373 5
6 201
83 2
242 2
4 180
73 3
290 2
4 832
83 8
268 6
4,131
93.0
198 7
3 764
36 1
249 6
4 151
107.4
224 7
3 438
71 6
976.5
933.2
815.4
782 0
161.1
151 2
864.7
823.7
707.4
676 7
157.3
147.1
932.3
877.1
763 3
721 0
169. 0
156 1
876.8
825.2
714 3
676 9
162.5
148 2
861.1
805.2
720 2
678 0
140.8
617.1
473.7
446.5
346.4
907.3 1,048.5
995.7
849.9
856.8
751 6
855.2
807.4
197 9
940.9
889.6
777 1
740 4
163.8
149 9
25.73
24 75
5. 72
23 56
20 77
6.59
34 64
99* 46
10 97
28 50
24 10
11.82
33 24
30 20
9 83
27 09
24 84
10 24
16 95
14 95
7.92
106. 32
50.21
12.84
121.48
48 23
137 47
46 65
13 1°
182. 77
51 72
12 96
185 26
63 89
14 61
185 53
68 52
19 65
12 760 12, 561
7 910
8 581
12 474
7 935
12 606
Q Q49
7 941
r
r
349 Q
5 464
143 0
208 7
3 262
156 6
MOTOR VEHICLES
Factory sales (from plants in U.S.), total
Domestic
Passenger cars, total
Domestic
Trucks and buses, total
Domestic
thous ..
do ..
do ..
do
do
do
Exports:
Passenger cars (new), assembled
..
To Canada
.
Trucks and buses (new) , assembled
do
do
do
10, 718. 2 10, 142. 8
10, 172. 2 9, 583. 6
8 822 2
8 407 1
1, 896. 1
1 765 1
330 46
286 78
92.03
8 223 7
7 806 5
1, 919. 1
1 777 1
3
333 45
299 11
103 24
Imports:
Passenger cars (new), complete units... - _ _ d o ... 11,620.45 1 846 72
1
From Canada, totaldo
500 88
691 15
1
Trucks and buses, complete units .
do
114 65 146 01
Shipments, truck trailers:
Complete trailers and chassis
. .number
Vans
do
Trailer bodies and chassis (detachable), sold
separately . number
Registrations (new vehicles): O
Passenger cars
Foreign cars .
_
Trucks
_ .
thous
do
do
3
588.5
465 2
446 9
152.0
141 6
164.7
159 7
716.6 2 692. 8
681.0
571 4 2 550 7
545 o
145.2 2 142. 1
136 1
32 84
27 9f;>
7 48
30 39
25 96
8.33
18 76
14 64
6.40
177. 66
76.61
13 94
154 02
70 84
3 86
165. 11
73 25
13 90
177. 06
59 19
12 04
11 903
8 730
12,359
10 768
7 754
r
8 761
9, 899
r 6 556
9,981
6 755
3 651
3 532
3 7°7
r 4 039
3 462
733 4
5 95 i
5 149 i
5 955. 6
5 112 6
5
174 4
329 5
127.3
117.0
706 5
155.7
143 3
815 6
191.7
180.1
10.92
9.48
7.97
35 13
31 39
7 45
28 30
8.89
160. 15
40 99
8 63
120. 38
148 65
68 37
11 90
11,370
10, 782
7,554
26.58
9 70
34.47
788.7
741 5
624 0
682 1
r 644 0
173.2
163 3
COO Q
113, 928
75 148
138 427
94 808
9,890
6 739
11,055
7 405
33 761
33 332
1 605
3 0^5
3 079
2 195
1 530
1 754
2 368
2 827
1 9,1 403. 9 9 446. 5
985 8 1 061 6
il 775 6 1 888 8
657.6
63 4
133 2
5 607. 5
5 53 4
5 124. 5
681 2
58 1
144 o
5 876. 0
5 98 3
s 174 6
5 889 1
5 107 9
5 172 8
s 841 9
5
91 7
5 160 9
5815.3
s 718. 8
5 95 6
5 153. 8
56 262
38 991
17, 271
68 459
54 072
14 380
4,452
3,823
629
5 205
4 439
766
5 312
4* 516
796
6 571
5 353
1 218
5 8°6
4 667
1 159
5 445
3' 888
1 557
4,861
5, 482
6 881
6,972
3,770
4,032
4*879
1,091
1,450
2 002
5,181
1,791
6 273
4 941
1 332
5 765
4 640
1,125
4,282
3,484
798
5 747
3 782
3,148
8 264
9 0°2
4,753
4, 269
2,032
2,032
0
5
s 90 2
169 6
5
s 757. 5 * 5912. 5
5 93 6 4 5101 7
5 146 8 4 5185 0
RAILROAD EQUIPMENT
Freight cars (ARCI & AAR):
Shipments^
. ..
Equipment manufacturers. .
Railroad shops, domestic
New orders cf...
Equipment manufacturers
Railroad shops, domestic
. number
do
do
_ _ _
do
do
do
i 63 561
i 49, 391
14, 170
84 345
65, 401
18, 944
7,753
4,325
3,428
3 641
3,136
505
5 957
5,157
800
19 721
19, 329
392
6 263
6,203
60
7 968
6 683
1, 285
3,047
2,700
2,679
2,284
395
4 504
4,021
483
634
3,456
4,808
Unfilled orders, end of period c?-_ .
Equipment manufacturers
_
Railroad shops, domestic
do
do
do
31, 740
24, 540
7,200
46 751
35 508
11, 243
34 994
24, 995
9,999
33 439
23 701
9,738
34 073
24 331
9,742
47 208
38 292
8,916
47 445
39 628
7,817
50 395
42* 850
51, 233
42, 079
9,154
47,915
39,816
8,099
45 133
38 853
6,280
42, 043
36, 920
5,123
43 460
35 361
7,545
8,099
46 751
35, 508
11,243
44, 201
33, 756
10, 445
1,458
5 2
1,438
56
1,456
5 2
1,455
1,452
53
1,449
51
1,448
5 2
1,446
5 3
1,443
5 4
1,442
5 5
1,441
5 5
1,440
5 5
1,440
5 5
1,438
5 6
1,438
5.7
93. 91
94.37
93.91
93.88
64.68
64.50
64.54
65.62
r
Revised.
i Annual total includes revisions not distributed by months.
2 Preliminary
4
estimate of production.
3 Beginning 1969, data exclude vehicles on runners and skis.
Includes delayed registrations for several States.
& Omits data for one State.
cf Beginning May 1969, data (compiled jointly by the American Railway Car Institute and
the Association of American Railroads) refer to new cars for all domestic users. Not covered
are rebuilt cars and cars for export; also, cancellations are not reflected.
93.94
64.82
93.96
64.87
94.01
93.96
93.98
94.15
65.02
65.11
65.19
94.22
65.45
94.38
65.23
94.37
65.62
94.45
65.69
Freight cars (revenue), class 1 railroads (AAR):§
Number owned, end of period
thous
Held for repairs, % of total owned
Capacity (carrying), aggregate, end of period
mil. tons__
A verage per car
_..
ton*
93.82
64.34
65.35
9 Total includes backlog for nonrelated products and services and basic research.
0Data include military-type planes shipped to foreign governments.
O Courtesy of R. L. Polk & Co.; republication prohibited.
§ Excludes railroad-owned private refrigerator cars and private line cars.
INDEX TO CURRENT BUSINESS STATISTICS, Pages S1-S40
SECTIONS
General:
Business indicators
Commodity prices
Construction and real estate
Domestic trade
1-7
7-9
9,10
11,12
Labor force, employment, and earnings
Finance
Foreign trade of the United States
Transportation and communications
13-16
16-21
21-23
23,24
Industry:
Chemicals and allied products
Electric power and gas
Food and kindred products; tobacco
Leather and products
24,25
25,26
26-30
30
Lumber and products
Metals and manufactures
Petroleum, coal, and products
Pulp, paper, and paper products
31
31-34
34-36
36,37
Rubber and rubber products
Stone, clay, and glass products
Textile products..
Transportation equipment
37
38
38-40
40
INDIVIDUAL SERIES
Advertising
11,16
Aerospace vehicles
40
Agricultural loans
16
Air carrier operations
23
Aircraft and parts
4,6, 7,40
Alcohol, denatured and ethyl
25
Alcoholic beverages
11,26
Aluminum
33
Apparel
1,3,4,8,9,11-15,40
Asphalt and tar products
35,36
Automobiles, etc
1,3-6, 8,9,11,12,19,22,23,40
2,3
Balance of international payments
16,17
Banking
27
Barley
34
Battery shipments
28
Beef and veal
Beverages
4,8,11,22, 23.26
5-7
Blast furnaces, steel works, etc
18-20
Bonds, outstanding, issued, prices, sales, yields
33
Brass and bronze
38
Brick
20
Broker's balances
6,7,
Building and construction materials...
9,10,31, 36,38
10
Building costs
10
Building permits.
7
Business incorporations (new), failures
5
Business sales and inventories
26
Butter
28
Cattle and calves
Cement and concrete products
9, 10,38
8
Cereal and bakery products
12
Chain-store sales, firms with 11 or more stores. . .
26
Cheese
Chemicals
4-6,8,13-15,19, 22-25
Cigarettes and cigars
30
9,38
Clay products
Coal
4,8,22, 34,35
Cocoa
23,29
Coffee
23,29
35
Coke
Communication
2, 20,24
Confectionery, sales
29
Construction:
10
Contracts
10
Costs. .
Employment, unemployment, hours, earnings. . 13-15
1
Fixed investment, structures
Highways and roads
9,10
10
Housing starts
10
Materials output indexes
New construction put in place
9
17,18
Consumer credit
1
Consumer expenditures
Consumer goods output, index
3,4
Consumer price index
8
Copper
33
Corn
27
8
Cost of living (see Consumer price index)
Cotton, raw and manufactures
7,9,22, 38,39
Cottonseed cake and meal and oil
30
Credit, short- and intermediate-term
17,18
Crops
3,7,27, 30,38
Crude oil and natural gas
. 4,35
Currency in circulation
19
Dairy products
Debits, bank
Debt, U.S. Government
Department stores
Deposits, bank
Disputes, industrial
Distilled spirits
Dividend payments, rates, and yields
Drug stores, sales
3,7, 8, 26,27
16
18
11,12
16,17,19
16
26
2, 3,19-21
11,12
Earnings, weekly and hourly
15
Eating and drinking places
11,12
Eggs and poultry
3,7,8, 28,29
Electric power
4,8, 25,26
Electrical machinery and equipment
4-7,
9,13-15,19,22,23,34
Employment estimates
13-15
Employment Service activities
16
Expenditures, U.S. Government
18
Explosives
25
Exports (see also individual commodities).... 1,2,21-23
Express operations
23
Failures, industrial and commercial
7
Farm income, marketings, and prices
2,3,7,8
Farm wages
15
Fats and oils
8,22,23,29,30
Federal Government
finance
18
Federal Reserve banks, condition of
16
Federal Reserve member banks
17
Fertilizers
8,25
Fire losses
10
Fish oils and
fish
29
Flooring, hardwood
31
Flour, wheat
28
Food products
1,4-8,11-15,19,22,23,26-30
Foreclosures, real estate
10
Foreign trade (see also individual commod.)
21-23
Foundry equipment
34
Freight cars (equipment)
4,40
Fruits and vegetables
7,8
Fuel oil
35,36
Fuels
4,8,22,23,34-36
Furnaces
34
Furniture
4,8,11-15
Gas, output, prices, sales, revenues
Gasoline
Glass and products
Glycerin
Gold
Grains and products
Grocery stores
Gross national product
Gross private domestic investment
Gypsum and products..
4,8,26
1,35
38
25
19
7,8,22,27,28
11,12
1
1
9, 38
11
Hardware stores
9,34
Heating equipment
9,30
Hides and skins
9,10
Highways and roads. .
28
Hogs
8
Home electronic equipment
10
Home Loan banks, outstanding advances
10
Home mortgages
40
Hosiery
24
Hotels
14
Hours of work per week
Housefurnishings
1,4,8, 11,12
4,
Household appliances, radios, and television sets.
8, 11,34
Housing starts and permits
10
Imports (see also individual commodities)... 1,2, 22,23
Income, personal
2,3
Income and employment tax receipts
18
Industrial production indexes:
By industry
3,4
By market grouping
3,4
Installment credit
12, 17,18
Instruments and related products
4-6, 13-15
Insurance, life
18,19
Interest and money rates
17
Inventories, manufacturers' and trade
5,6, 11,12
5
Inventory-sales ratios
Iron and steel
4-7,9,10,19,22, 23, 31,32
Labor advertising index, strikes, turnover.
16
13
Labor force
Lamb and mutton
28
28
Lard
33
Lead.
Leather and products
4,9,13-15,30
Life insurance
18,19
Linseed oil
30
Livestock
3,7,8,28
Loans, real estate, agricultural, bank, brokers'
(see also Consumer credit)
10,16,17,18,20
Lubricants
35,36
Lumber and products
4,9,10-15,19,31
Machine tools
34
Machinery
4-7,9,13-15,19,22,23,34
Mail order houses, sales
11
Man-hours, aggregate, and indexes
14
Manmade fibers and manufactures
9, 39
Manufacturers' sales (or shipments), inventories,
orders
5-7
Manufacturing employment, unemployment, production workers, hours, man-hours, earnings. . . 13-15
Manufacturing production indexes
3,4
Margarine
29
Meat animals and meats
3, 7,8,22, 23,28
Medical and personal care
8
Metals
4-7,9,19,22,23,31-33
Milk
27
Mining and minerals
2-4,9,13-15,19
Monetary statistics
19
Money supply
19
Mortgage applications, loans, rates
10,16,17,18
Motor carriers
23,24
Motor vehicles
1,4-6,8,9,11,19,22,23,40
Motors and generators
34
National defense expenditures
1,18
National income and product
1,2
National parks, visits
24
Newsprint
23,37
New York Stock Exchange, selected data
20,21
Nonferrous metals
4,9,19,22,23,33
Noninstalhnent credit
18
Oats
27
Oil burners
34
Oils and fats
8,22,23,29,30
Orders, new and unfilled, manufactures'
6,7
Ordnance
13-15
Paint and paint materials
Paper and products and pulp
8,25
4-6,
9,13-15,19,23,36,37
Parity ratio
7
Passports issued
24
Personal consumption expenditures
1
Personal income
2,3
Personal outlays
2
Petroleum and products
4-6,
8,11-15,19,22,23,35,36
Pig iron
31, 32
Plant and equipment expenditures
2
Plastics and resin materials
25
Population
13
Pork
28
Poultry and eggs
3,7,8,28,29
Prices (see also individual commodities)
7-9
Printing and publishing
4,13-15
Private sector employment and earnings
15
Profits, corporate
2,19
Public utilities
2-4,9,19-21,25,26
Pulp and pulpwood
36
Purchasing power of the dollar
9
Radiators and convectors
34
Radio and television
4, 11,34
Railroads
2,15,16,20,21,24,40
Railways (local) and bus lines.
23
Rayon and acetate
39
Real estate
10,17,18
Receipts, U.S. Government
18
Recreation
8
Refrigerators and home freezers
34
Rent (housing)
8
Retail trade..
5,7,11-15,17
Rice
27
Roofing and siding, asphalt
36
Rubber and products (incl. plastics)
4-6,
9,13-15,23,37
Saving, personal
Savings deposits
Securities issued
Security markets
Services
Sheep and lambs
Shoes and other footwear
Silver
Soybean cake and meal and oil
Spindle activity, cotton
Steel (raw) and steel manufactures
Steel scrap
Stock prices, earnings, sales, etc
Stone, clay, glass products
Stoves and ranges
Sugar
Sulfur
Sulfuric acid
Superphosphate
2
17
19,20
20,21
1,8, 13
28
9,11,12,30
19
30
39
22,23,31,32
31
20,21
4-6,9,13-15,19,38
34
23,29
25
24
25
Tea imports
29
Telephone and telegraph carriers
24
Television and radio
4,11, 34
Textiles and products.... 4-6,9,13-15,19,22,23,38-40
Tin
33
Tires and inner tubes
9,11,12,37
Tobacco and manufactures
4-7,9,11,13-15,30
Tractors
34
Trade (retail and wholesale)
5,11,12
Transit lines, local.
23
Transportation
1,2,8,13,23,24
Transportation equipment
4-7,13-15,19,40
TraveT
.
23,24
Truck trailers
40
Trucks (industrial and other)
34,40
Unemployment and insurance
U.S. Government bonds
U.S. Government
Utilities
13,16
16,17,20
finance
18
2-4,9,19-21,25,26
Vacuum cleaners. . .
Variety stores
Vegetable oils
Vegetables and fruits
Veterans' benefits
Wages and salaries
Washers and dryers
Water heaters
Wheat and wheat flour
Wholesale price indexes
Wholesale trade
Wood pulp
Wool and wool manufactures.
Zinc.
34
H, 12
29,30
7,8
16
.......
2,3,15
34
34
27,28
8,9
5,7,11,13-15
36
9,39
33
UNITED STATES
GOVERNMENT PRINTING OFFICE
DIVISION OF
PUBLIC
DOCUMENTS
WASHINGTON, D.C. 20402
OFFICIAL BUSINESS
BUSINESS
STATISTICS
1969 Biennial Edition
THE SEVENTEENTH VOLUME in a series of statistical supplements to the monthly
SURVEY OF CURRENT BUSINGS, the new edition provides, for the past thirty years,
historical data for approximately 2,500 series.
For most series, annual data are presented back to 1939. Quarterly statistics back
to 1958 are shown for those series ordinarily published on a quarterly basis, and monthly
data back to 1965 are given for monthly series. Also included in the volume is an appendix providing monthly or quarterly data back to 1947 for 350 of the more important
economic series. Color keyed explanatory notes to the time series define terms, give
sources of data, and describe the methods of compilation used.
Price, $3.00. Orders may be placed with the
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20402, or with any Field Office of the
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