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MARCH 1981
/ VOLUME 61 NUMBER
SURVEY OF CURRENT BUSINESS
CONTENTS
THE BUSINESS SITUATION
1
National Income and Product Accounts Tables
7
Reconciliation and Other Special Tables
18
Pollution Abatement and Control Expenditures, 1972-79
19
Plant and Equipment Expenditures,
First and Second Quarters and Second Half of 1981
28
Capital Expenditures by Majority-Owned Foreign
Affiliates of U.S. Companies, 1981
34
U.S. International Transactions
Fourth Quarter and Year 1980
40
U.S. Department of Commerce
Malcolm Baldrige / Secretary
William A. Cox / Acting Chief Economist
for the Department of Commerce
Bureau of Economic Analysis
George Jaszi / Director
Allan H. Young / Deputy Director
Carol S. Carson / Editor-in-Chief,
Survey of Current Business
Manuscript Editor: Dannelet A. Grosvenor
Managing Editor: Patti A. Trujilio
Staff Contributors to This Issue: Christopher L. Bach,
Leo M. Bernstein, James C. Byrnes, Robert T. Clucas,
Douglas R. Fox, Bruce T. Grimm, Eric R. Johnson,
Jeffrey H. Lowe, John C. Musgrave, Gary L. Rutledge,
Edward L Steinberg, Susan L. Trevathan, Joseph C.
Wakefield, John T. Woodward
CURRENT BUSINESS STATISTICS
General
SI
Industry
S22
Footnotes
S37
Subject Index (Inside Back Cover)
SURVEY OF CURRENT BUSINESS. Published monthly by
the Bureau of Economic Analysis of the U.S. Department
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UA PEt AKTiMENT OF COMMERCE DISTRICT OFFICES
ALA., Birmlngfam 3S205
?08 S. 20th St. 2.>4-l?31
ALASKA, An«botage 99501
€32 <itl» Ave. 265-5307
AKIZ.,
Phoeaix H5O73
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CALIF,, Lus Angeles 99049
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CALIF., San Francisco 94102
450 Golden Gale A~e. 556-5868
GA.. Savannah 314O2
2^2 U.S. Courthouse & P.O. Bid?.
232-1321
HAWAII, Honolulu 9685O
3JO AlaMoana Blvd. 546-8691
If L., Chicago 60603
Rm. 1406 Mid Continental Plaza Bldg.
353-4150
IND., Indianapolis 46204
46 East Ohio St. 269-6214
MICH., Detroit 48226
445 federal Bldg. 226-3650
N.C., Greensboro 274O2
203 Federal Bldg. 378-5345
TEX., Dallas 75242
1100 Commerce St. 749-1315
MINN., Minneapolis 55401
218 Federal Bldg. 725-2133
OHIO, Cincinnati 4S2O2
550 Main St. 684-2944
TEX., Houatoa 77O02
515 Rusk St. 22S-4231
MO., St. Louis 631O5
120 S, Central 425-3302
OHIO, Clevc-JaiHl
44114
665 Euclid Ave. 522-4750
1SEBR., Omaha 681O2
1815 Capitol Ave. 221-3665
OREG., Portland 972O4
1220 S.W. 3zd Ave. 221-3001
>EV., Ifcno 89503
777 W. 2d St. 785-5203
PA., Philadelphia
19106
600 Arch St. 597-2850
LOLO., Denver S02O2
19th & Stoat St. 837-3246
IOWA, Des Moines 50309
210 Walnut St. 284-4222
N.J., Newark O71O2
4th Floor Gateway Bldg. 645-6214
PA., Pittsburgh 1S222
1000 Liberty Ave. 644-2850
CONN., Hartford
4fO Main ^l.
LA., New Orleans 70130
432 International Trade Mart 589-6546
N. MEX., Albuquerque 871O2
505 Marquctte Ave., N.W. 766-2386
P.P.., San Juan O0918
659 Federal Bidg. 753-4555
MO., Baltimore 21202
< I S T T < ; Tnstomhouse 962-3560
>".Y.» Rtiffalo 142O2
111 W. Huron St. 846-1191
S.C, Columbia 29204
26II Forest Dr. 765-5345
O6103
FT.,-1., Miami 3313O
UTAH, Salt Lalte City 84138
125 South State St. 524-5116
VA., RicHmond 2324O
8010 Federal Bldg. 782-2246
WASH., Seattle 98109
Rm. 706 Lake Union Bldg. 442-5615
W. VA., Charleston 25S01
500 Quarrier St. 343-5181
WIS., Milwaukee 53502
517 E. Wisconsin Ave. 291-3173
the BUSINESS SITUATION
AS OF MID-MAKCH, the source
data required to estimate the firstquarter national income and product
accounts are incomplete and in some
cases preliminary. However, the data
required to estimate personal income,
taxes, and outlays are more adequate
than those required to estimate other
components of the accounts and provide
the basis for publishing monthly estimates of these items. The estimates for
2 months of the quarter, in turn, provide the basis for a quarterly projection,
which is particularly useful because
consumers receive most of the Nation's
income and give rise to the bulk of the
demand for GNP. As will be seen, the
projection indicates that the increase in
personal consumption expenditures
(PCE) was strong in the first quarter
despite a weakening in the increase in
personal income.
Personal income and its disposition
Personal income increased $59 billion
in the first quarter, $15 billion less than
in the fourth quarter of 1980 (table I).1
For wage and salary disbursements,
personal interest income, and personal
contributions for social insurance, there
was a substantial difference between the
sizes of the fourth- and first-quarter increases. Wages and salaries increased
$4:11/2 billion, compared with $56 billion
in the fourth quarter. Most of the deceleration was in government and government enterprises and in manufacturing. In government, a Federal pay raise
had added $6 billion to the fourth-quarter increase. In manufacturing, the de1. Quarterly estimates in the national income
and product accounts are expressed at seasonally
adjusted annual rates, and quarter changes in them
lire differences between these rates.
celeration was mainly due to employment and average hours, both of which
steadied after substantial increases. On
January 1, the minimum wage was
raised from $3.10 to $3.35 per hour,
raising first-quarter wages and salaries
$2 billion. Despite this step-up, the effect of which was concentrated in the
distributive and service industries,
wages and salaries in the former increased less than in the fourth quarter
and in the latter held steady.
In personal interest income, a major
factor in the unusually large difference
between the sizes of the fourth- and
first-quarter increases—$8 billion compared with $16% billion—was interest
paid by the Federal Government. The
larger first-quarter increase was due to
higher interest rates in conjunction
with an increase in Federal debt on
which interest is paid to persons, either
directly or through financial intermediaries.
Personal contributions for social insurance, which are deducted in deriving
personal income, increased $101/£ billion,
compared with $3 billion in the fourth
quarter. The first-quarter increase included $9 billion due to the statutory
changes in the tax rate and taxable wage
base for social security. The change in
the tax rate, from 6.13 percent to 6.65
percent, raised personal contributions
$6% billion, and the change in the wage
base, from $25,900 to $29,700, raised
them $21/2 billion.
Partly due to the deceleration in
wages and salaries, personal taxes increased only $12 billion, compared with
$171/2 billion in the fourth quarter. In
addition, taxes were held down by the
impact of legislation, including changes
in the indexing procedure used in California to adjust personal taxes for the
effects of inflation. Disposable personal
income increased $47 billion, compared
with $56% billion. Personal outlays increased $64% billion, compared with
$70 billion—in both quarters more than
Table 1.—Personal Income and Its Disposition: Change From Preceding Quarter
[Billion of dollars, based on seasonally adjusted annual
rates]
19 SO
Wage and salary disbursements
Manufacturing..
Other commodity-producing
Distributive
Services, _
Government and government enterprises
Proprietors' income
Farm
Nonfarm
- .
Personal interest income... .
Transfer payments
Other income
Less: Personal contributions for
social insurance
Personal income
Less: Personal tax and nontax
payments,
Impact of legislationOther
Equals disposable personal incomeLess: Personal outlays
Equals personal saving
1981
III
IV
21.4
56.0
41.4
3.5
.6
6.0
7.9
18.2
5.7
11.4
11.3
12.6
4.4
9.2
11.5
3.4
9.4
3.7
4.8
4.3
-.1
-1.2
6.0
.3
3.9
-.4
.4
I*
8.2
7.9
16.7
30.0
3.2
4.8
54
5.8
7.0
23
3.1
10.7
67 7
74.1
59.1
11.2
.3
10 9
17.7
—.6
18 3
12.2
—2.8
15 0
56.5
56.4
46.9
55 1
70 2
46
1 4 —13 8
—7 8
6.1
.1
2.0
Addenda: Special factors in personal
income
Federal pay raise
Minimum wage
Accidental damage: Mount St.
Helens and Florida civil disturbance
.7
Social security (in personal contributions for social insurance)
Base change
Kate change
Cost-oMiving increase in Federal
transfer payments
" Projected.
2.3
6.7
17.6
2.5
1.1
SUEVEY OF CURRENT BUSINESS
the increases in disposable income. Ac- through to real disposable income; real
cordingly, personal saving declined in income, after increasing 3 percent at an
both quarters, and because the decelera- annual rate in the fourth quarter, intion in outlays was smaller than that in creased 1 percent in the first. The imdisposable income, personal saving de- plicit price deflator for PCE, which is
clined more in the first quarter than in used to derive real income, decelerated,
the fourth. The personal saving rate fell but only slightly, from the 9% percent
registered in the fourth quarter. Slowfrom 5.1 percent to about 4 percent—an
ing in the rates of increase in new car
extraordinarily low level.
and food prices more than offset a
Most of the deceleration in current- quickening in the rate of increase of
dollar disposable income carried energy prices.
mmmmmmmmmmmmmmm CHART 1
Retail Sales of New Passenger Cars
7
i i i . . i . , . . , I . . i i . I i . . . . I . . . . . i . . . . > I . . . i . i
DOMESTIC LARGE CARS
intermediate
Futt-Size
0
...1.... i i i i i
t .1 . t
i i I »
New car prices were held down by
cash rebates introduced in February.
The slowing of food price increases from
the 16-17 percent (annual rate) registered in the second half of 1980 was
largely due to meat prices. There were
sharp jumps in the prices of fresh
vegetables, reflecting reduced supplies
following the mid-January freeze in
Florida, and of fats and oils, reflecting
damage to the peanut crop. PCE energy
prices accelerated sharply from the
single-digit rates of increase registered
in the second half of 1980. An acceleration in gasoline and fuel oil prices was
due to a combination of increased prices
for OPEC and other imported crude
oil, and the decontrol of domestic crude
oil and of refined petroleum products on
January 28. (Gasoline was the only
major refined product still subject to
Federal controls; see "PCE Energy
Prices, 1978-80" in the October 1980
SURVEY OF CURRENT BUSINESS.) Electricity price increases reflected passthroughs (in the form of fuel adjustments in consumers' bills) of higher
prices of petroleum products used in
electricity production, and, to a lesser
extent, the effects of drought on hydroelectric production, which caused
increased reliance on higher priced
energy inputs.
Real PCE increased about 6 percent
at an annual rate in the first quarter.2
Its unusual strength was due to motor
vehicles and parts; all other PCE combined increased about 4 percent. Among
the major components, only electricity
i i i. i I i i i i i
DOMESTIC SMALL CARS AND IMPORTS
Imports
1978
1979
1980
Seasonally Adjusted at Annual Rates
Note.—The components may not add to the total because each category was separately adjusted for seasonal variation.
Data: Motor Vehicle Manufacturers Association of the United States, Inc. and Ward's Automotive Reports; seasonal adjustment by BEA.
U.S. Department of Commerce, Bureau of Economic Analysis
March 1981
1981
2. The major source data that shed light on firstquarter GNP components are limited to 1 or 2
months of the quarter, and in some cases are preliminary. These data are: For personal consumption expenditures (PCE), January and February
retail sales, unit sales of new autos through the
first 10 days of March, and sales of new trucks for
January and February; for nonresidential fixed investment, the same data for autos and trucks as
for PCE, January construction put in place, January manufacturers' shipments of equipment, and
business investment plans for the quarter; for residential investment, January construction put in
place, and housing starts for January and February ; for change in business inventories, January
book values for manufacturing and trade, and unit
auto inventories for January and February; for
net exports of goods and services, January merchandise trade ; for government purchases of goods
and services, Federal unified budget outlays for
January, State and local construction put in place
for January, and State and local employment for
January and February; and for GNP prices, the
Consumer Price Index for January, and the Producer Price Index for January and February.
March 1981
and natural gas declined; a factor in
the decline was unseasonably mild
weather in February.
In motor vehicles, purchases of cars
increased again, and purchases of trucks
turned up. In terms of units, sales of
new passenger cars, which are sales to
business and other final users as well
as to consumers, averaged 10.0 million
(seasonally adjusted annual rate) in
January-February, up from 9.1 million
in the fourth quarter. Import sales were
up to 2.8 million from 2.5 million. Domestic sales, which were up to 7.3 million from 6.7 million, were boosted by
the cash rebate programs. For each domestic size category, sales in JanuaryFebruary were up from the fourth
quarter (chart 1).
Other components of GNP
Real residential investment, which reflects housing starts with a lag, was up
about 10 percent at an annual rate.
Housing starts had increased through
the second half of 1980 before turning
down in January-February (chart 2).
The increase in the residential investment total was held down by a decline
in commissions on the sale of new and
existing houses; new construction was
up substantially more than 10 percent.
Multif aniily construction was especially
strong. Although it was only one-third
of new construction, it contributed
almost one-half of its first-quarter
increase.
Despite continued excess capacity and
expensive financing, real nonresidential
fixed investment increased again in the
first quarter. The 9-percent annual rate
increase reflected unusually strong investment in motor vehicles and 5-percent increases both in structures and in
producers' durable equipment other
than motor vehicles. (Business investment as reported in the Plant and
Equipment Survey is discussed later in
this issue.)
A 2-percent annual rate increase in
real government purchases was largely
accounted for by the price support operations of the Commodity Credit Corporation. Over the past year, these
operations have accounted for most of
the quarterly changes in government
purchases.
SURVEY OF CURRENT BUSINESS
CHART 2
Housing Starts
Millions of Units
2.5
2.0
"V"—-V \
1.5
1.0
_|
1977
1978
J_
1979
1980
1981
Seasonally Adjusted at Annual Rates
Data: Census
U.S. Department of Commerce, Bureau of Economic Analysis
For the remaining components of exports. For inventories other than of
GNP—net exports and change in busi- motor vehicles, it is unlikely that the
ness inventories (CBI)—little informa- substantial decumulation that occurred
tion is available. The only item for in the fourth quarter was repeated; inwhich there is more than 1 month of in- ventories were already low in relation
formation is the motor vehicles com- to sales in the fourth quarter.
GNP prices probably increased someponent of CBI. This information indicates that there was a substantial liqui- what less than the 10-percent annual
dation of motor vehicle inventories in rate registered by the fixed-weighted
the first quarter after moderate accumu- price index in the fourth quarter. The
lation in the fourth. In terms of units, major factor in the lower rate of innew car inventories dropped from 1.35 crease was prices paid by government.
million (seasonally adjusted) in the The fourth-quarter increase had infourth quarter to about 1.12 million in cluded the Federal pay raise, which
February. The inventory-sales ratio added about iy2 percentage points to
dropped below the desired 2.0 level for the increase in GNP prices.
the first time in 4 years.
The developments in GNP compo- Employment and unemployment
nents that have been roughly quantified
From the fourth quarter of 1980 to
add up to a 3-percent annual increase February, the civilian labor force inin the first quarter. Likely developments creased 508,000, the largest increase in
in the remaining components suggest over a year (table 2). Adult women acthat the increase in real GNP was sub- counted for the entire fourth-quarterstantially more. For net exports, it is to-February increase. The household
unlikely that the unusually large de- measure of employment increased 651,
cline in the fourth quarter was repeated 000, about three times as much as in the
in the first. In the fourth quarter, up- fourth quarter. Virtually the entire inturns in petroleum and nonpetroleum crease was in the employment of adult
merchandise imports, together with women. A decrease in unemployment of
substantial declines in agricultural and 143,000 was more than accounted for by
nonagricultural merchandise exports, a decrease in the number of persons on
produced a $9 billion decline in real net layoff. In February, the unemployment
SUEVEY OF CUERENT BUSINESS
March 1981
Table 2.—Selected Labor Market Indicators
[Seasonally adjusted]
1980
II
I
1981
Change from preceding quarter
III
IV
Jan.
Feb.
1980:11
1980:IV
1980:111
1981:Feb.
Household survey
Civilian labor force (thousands) . - . . _ Employment.
Unemployment
Job losers
On layoff
Other job losers ..
.
Job leavers, reentrants, and new entrants
Unemployment rate (percent) :
Total
Adult men
Adult women
.
Teenagers ._
.
-
.
_.
.
104,217
97,718
6,499
3,040
1,098
1,942
3,438
104,693
97,040
7,652
4,071
1,716
2,355
3,645
104,982
97, 061
7,921
4,357
1,758
2,598
3,610
105, 173
97, 276
7,897
4,232
1,538
2,693
3,665
105, 543
97, 696
7,847
3,847
1,258
2,590
3,946
105,681
97,927
7,754
3,896
1,267
2,629
3,782
476
—678
1,153
1,031
618
413
207
289
21
269
286
42
243
—35
191
215
-24
-125
—220
95
55
508
651
-143
—336
-271
—64
117
6.2
4.8
5.8
16.4
7.3
6.2
6.4
17.9
7.5
6.6
6.4
18.4
7.5
6.3
6.7
18.3
7.4
6.0
6.7
19.0
7.3
6.0
6.5
19.3
1.1
1.4
.6
1.5
.2
.4
0
.5
0
-.3
.3
-.1
-.2
—.3
-.2
1.0
91, 120
26,605
4,644
90, 489
25,763
4,427
90, 131
25, 317
4,362
90,932
25,780
4,475
91,499
26,042
4,608
91, 550
25,960
4,500
-631
-842
-217
-358
-446
-65
801
463
113
618
180
25
12, 701
8,254
25,793
22, 630
16,093
12, 176
8,138
25, 652
22, 778
16,296
11, 878
8,059
25,694
22,983
16, 137
12, 116
8,134
25,785
23, 211
16, 156
12, 192
8,158
25,930
23,400
16, 127
12, 198
8,172
26,039
23, 439
16, 112
-525
-116
-141
148
203
-298
-79
42
205
-159
238
75
91
228
19
82
38
254
228
-44
35.5
40.1
35.1
39.4
35.1
39.3
35.4
39.9
35.5
40.4
35.2
39.8
-.4
-.7
0
-.1
.3
.6
-.2
-.1
Establishment survey
Employment, nonfarm payroll (thousands)
Goods producing
Construction
Manufacturing:
Durables
Nondurables
1
Distributive
Services 2
Government
Average weekly hours, private nonfarm:
Total _
Manufacturing. _
-
-
_
Source: Bureau of Labor Statistics.
1. Transportation and public utilities, and wholesale and retail trade.
2. Services, and finance, insurance, and real estate.
rate was 7.3 percent, down from 7.5 percent in the fourth quarter. The rates for
adult men and adult women declined,
but that for teenagers continued its
uptrend.
The payroll measure of employment
increased 618,000, about 200,000 less
than in the fourth quarter. The deceleration was in construction and manufacturing—largely durables. The bulk of
the first-quarter increase was in distributive industries (254,000) and services
(228,000).
Average weekly hours in the private
nonfarm economy declined 0.3 hours in
February to 35.2 hours, after increasing
since August. The decline was in construction and manufacturing. Adverse
weather conditions in the Midwest and
Southeast prevailed during the week of
the payroll survey and were a major
factor in the decline.
Fourth-quarter corporate profits
In the fourth quarter of 1980, corporate profits from current production—profits with inventory valuation
and capital consumption adjustments—
increased $5 billion, following an $8i£
billion increase in the third. With these
Table 3.—Corporate Profits
[Billions of dollars; seasonally adjusted at annual rates]
1979
IV
Corporate profits with inventory evaluation and capital consumption adjustments
Profits before tax
Profits tax liability—
Profits after tax
._
Dividends
.
Undistributed profits
_
.
Inventory valuation adjustment
Capital consumption adjustment
Corporate profits with inventory valuation adjustment and
without capital consumption adjustment
Rest of the world
Domestic
Financial
Federal Reserve banks
Other financial
Nonfinancial
-
-
Manufacturing
Durable goods
Primary metal industries
..
Fabricated metal products
Machinery, except electrical
Electric and electronic equipment
Motor vehicles and equipment _ .
Other
..
Nondurable goods
Food and kindred products
Chemicals and allied products
Petroleum and coal products
Other
Wholesale and retail trade
Transportation, communication and electric, gas, and
sanitary services .
.
.-..
Other
1980
1980: Change from preceding quarter
I
II
IV
III
IV
189.4
10.8
-30.9
8.6
5.1
255.4
87.2
168.2
51.6
116.6
21.7
7.0
14.7
2.3
12.3
-59.2
-22.7
-36.4
1.8
-38.2
19.7
7.0
12.6
1.0
11.7
11.6
6.6
5.0
1.0
4.0
249.2
85.1
164.1
57.7
106.4
-50.8
-15.1
-10.6
-.3
30.3
-2.2
-10.6
-.3
-6.7
.1
-48.4
-17.8
204.5
11.1
-28.7
9.0
4.9
200.8
31.7
4.9
-7.3
1.6
172.9
6.1
-21.5
7.5
32.6
10.5
22.1
.7
1.4
-.7
-3.2
.8
4.0
27.7
8.1
173.1
1.9
.7
1.2
30.6
12.0
18.6
140.3
5.4
8.7
6.3
142.5
80.2
29.3
2.8
4.8
8.0
5.7
-.8
8.8
11.9
-1.2
3.1
.4
-.7
.9
-2.1
-2.8
-30.8
-18.0
-3.9
-3.5
-1.6
-2.8
-5.9
-.4
7.2
9.3
-1.3
2.2
.5
1.7
4.0
2.4
6.7
5.9
2.6
1.1
-.2
-.1
3.8
-1.4
75.2
25.3
3.3
5.0
6.0
5.4
-1.0
6.6
50.9
6.7
6.6
23.7
13.8
13.1
1.5
2.2
7.3
2.2
-12.8
-1.5
-2.8
-5.7
-2.8
-2.1
-1.0
1.0
-3.1
1.0
.8
2.4
1.2
-2.4
-.3
49.9
8.1
8.2
19.8
13.9
2.3
22.7
22.6
-7.8
-18.2
-1.4
-1.4
0
-3.2
183.0
11.1
-5.5
14.9
1.2
.5
5.9
22.6
.1
1.0
1.1
-3.2
.6
19.3
25.4
March 1981
SUEVEY OF CUKEENT BUSINESS
CHART 3
increases, profits have regained nearly
one-half the ground lost in the second
Profits With IVA and CCAdj.
quarter. At $183 billion, they are $17
billion below the first quarter of 1980 Billion $
and $19% billion below their recent 220
peak in the fourth quarter of 1978
Total
(chart 3). Domestic profits of nonfinan- 200
cial corporations also increased in the
third and fourth quarters. These profits, 180
at $128 billion, have nearly regained
their first-quarter 1980 level, but remain
$21 billion below the fourth quarter of 160
1978. Domestic profits of financial corporations increased $2 billion following 140
a $1% billion decrease. With little net
gain in these two quarters, these profits,
at $27% billion, are close to their 120
second-quarter level, which is well below the $30-$31 billion at which they 100
had held from the fourth quarter of
1978 to the first quarter of 1980. Eest-of- 80
the-world profits—as measured by the
net inflow of dividends and reinvested
earnings of incorporated foreign affili- 60
Rest of the World
ates, and earnings of unincorporated
foreign affiliates—decreased $3 billion, 40
following a $1% billion increase. At
$27% billion, these profits, which show
substantial quarterly irregularity, are 20
•«*•**"
Financial
$3% billion above the fourth quarter of
i
i
.
I
i
i
I
.
.
«
I
.
i
I
i
.
t i i t . (
t
t
1978.
1975
76
77
78
79
80
81
Detail by industry for nonfinancial
Seasonally Adjusted at Annual Rates
corporations is available for profits with
Note.-An IVA is not calculated for financial and rest of the world
and a CCAdj. is not calculated for rest of the world.
inventory valuation adjustment but
U.S. Department of Commerce, Bureau of Economic Analysis
81-3-3
without capital consumption adjustment (table 3). Manufacturing profits manufacturers of motor vehicles and
increased $6% billion to $75 billion in equipment were sharply reduced, reflectthe fourth quarter, following an in- ing both cost-cutting measures taken by
crease of $7 billion in the third. Within these manufacturers and substantial inmanufacturing, the increases are largely creases in the production and sales of
due to durable goods manufacturers' autos and trucks. Increased demand for
profits; nondurable goods manufac- metal products, resulting from the inturers' profits increased very slightly in crease in auto and truck production,
the fourth quarter, following a small de- contributed to substantial increases in
crease in the third. The overall increase the profits of steel and fabricated metal
in nondurable profits was held down by products manufacturers. The profits of
a decrease in petroleum manufacturers' lumber and of stone, clay, and glass
manufacturers increased, reflecting
profits.
The fourth-quarter increase in profits stronger demand resulting from inof durable goods manufacturers was creased investment in residential and
widespread and mirrored production. nonresidential structures in the fourth
Production, as measured by summing quarter.
BEA measures of constant-dollar sales
The $2 billion fourth-quarter in the
and constant-dollar inventory change, profits of domestic financial corporaincreased sharply in most durable goods tions included an increase in Federal
in manufacturing industries. Losses of Reserve banks' profits and an increase in
the profits of other financial corporations. The increase in other financial
corporations' profits resulted primarily
from savings and loan associations'
swing from losses to profits. A major
factor in the $3 billion decrease of
profits from the rest of the world was
profits of the overseas petroleum operations of U.S. corporations.
Disposition of profits.—Before-tax
profits increased $11% billion in the
fourth quarter, following an increase of
$191/£ billion in the third quarter. These
profits exclude the two valuation adjustments, which are designed to value inventories and fixed capital used up in
production at replacement costs, the
valuation concept underlying national
income and product accounting, rather
than at historical cost, the concept generally underlying; business accounting.3
If, as in the fourth quarter, the historical cost of inventories used up is less
than their replacement cost, profits as
measured by business exceed profit as
measured in the NTPA's by an amount
that is called inventory profits. Inventory profits increased $6% billion in the
fourth quarter, following an increase of
$10% billion in the third. If, as in the
fourth quarter, fixed capital used up as
measured by business is less than that
as measured in the NIPA's, business
profits exceed NIPA profits by an
amount that is equal to the underdepreciation of the fixed capital stock. The
profits attributable to underdepreciation were unchanged in the fourth
quarter, following an increase of $%
billion in the third.
Corporate profits taxes, which are
levied on profits including inventory
profits and profits attributable to underpreciation, increased $6% billion in
the fourth quarter, a little less than in
the third. Dividends increased $1 billion in both the third and fourth quarters. Undistributed profits increased $4
billion in the fourth quarter, following
an increase of Sll1/^ billion in the third.
3. The capital consumption adjustment also
places the using up in production of fixed capital
on a consistent basis with respect to service lives
(85 percent of Internal Revenue Service Bulletin
F for equipment and nonresidential structures) and
depreciation formulas (straight-line).
SUEVEY OF CUEEENT BUSINESS
The Federal Sector in the Fourth
Quarter
The Federal government deficit as
measured in the NIPA's declined $6
billion in the fourth quarter of 1980, as
receipts increased more than expenditures. The fourth-quarter deficit was
$68 billion, compared with a deficit of
$24% billion in the fourth quarter of
1979^
Receipts increased $32 billion in the
fourth quarter, compared with $20 billion in the third. Personal tax and nontax receipts increased $13% billion, reflecting a large increase in wages and
salaries. Contributions for social insurance increased $7 billion and corporate
profits tax accruals increased $6 billion.
Of a $6 billion increase in indirect business tax and nontax accruals, $5 billion
was in the windfall profits tax.
Expenditures increased $26 billion,
slightly more than in the third quarter.
Purchases of goods and services increased $17 billion, including $6% billion for a 9.1-percent civilian and military pay raise. Agricultural price support operations of the Commodity
Credit Corporation contributed $4%
billion to the increase in purchases and
the resumption of purchases of petroleum for the Strategic Petroleum Eeserve contributed $2 billion. Grants-inaid to State and local governments increased $4 billion, largely for public assistance and water treatment plants.
Transfer payments to persons increased
$2 billion, the net result of a $3 billion
decline in unemployment and trade adjustment benefits and a $5 billion in-
March 1981
Table 4.—Revisions in Selected Component Series of the NIPA's, Fourth Quarter of 1980
Precent change from
preceding quarter at
annual rates
Seasonally adjusted at
annual rates
45-day
estimate
75-day
estimate
Revision
45-day
estimate
75-day
estimate
Revision
Billions of current dollars
GNP
Personal consumption expenditures
Nonresidential fixed investment
Residential investment
Change in business inventories
Net exports
Government purchases
..
Federal
State and local
- -
...
.._
2,732.3
2,730.6
-1.7
15.2
14.9
-0.3
1, 749. 2
300.0
113.3
—15.2
26.9
558.0
212.1
346.0
1, 751. 0
302.1
113.0
—17.4
23.3
558.6
212.0
346.6
1.8
2.1
—.3
—2.2
—3.6
.6
—.1
.6
16.9
8.4
70.5
17.4
11.5
68.5
.5
3.1
—2.0
19.7
40.2
9.0
20.2
40.2
9.7
.5
0
.7
.2
17.1
17.1
0
—.8
0
2, 204. 5
Compensation of employees
Corporate profits with inventory valuation and capital
consumption adjustments
Other
Pcrson&l income
- --
-
16.4
1,661.6
1,661.8
360.3
183.0
359.7
—.6
16.1
11.9
15.3
2,256.0
2,256.2
.2
14.3
14.3
Billions of constant (1972) dollars
GNP
Personal consumption expenditures
Nonresidential fixed investment ._
- .._
Residential investment
Change in business inventories
Net exports
- -- -- -Government purchases
_
Federal
. .
State and local
-
1,486.5
1,485.6
-.9
4.0
3.8
-.2
946.0
156.1
50.8
-5.8
49.7
289.7
107.6
182.1
946.8
157.0
50.6
-7.2
48.5
289.8
107.4
182.4
.8
.9
-.2
-1.4
-1.2
.1
-.2
.3
6.7
1.6
67.2
7.0
4.0
64.2
.3
2.4
-3.0
2.0
2.8
1.6
2.2
2.0
2.3
.2
-.8
.7
10.7
10.0
10.4
0
-.1
-.1
Index numbers, 1972=100 1
GNP implicit price deflator
GNP fixed-weighted price index
GNP chain price index
183.80
188.3
-
1. Not at annual rates.
NOTE.—For the fourth quarter of 1980, the following revised
or additional major source data became available: For
personal consumption expenditures, revised retail sales for
December, consumer share of new car purchases for December, and consumption of electricity for November; for
nonresidential fixed investment, revised manufacturers'
shipments of equipment for December, revised construction
put in place for December, business share of new car purchases for December, and business expenditures for plant
and equipment for the quarter; for residential investment,
183.81
188.3
.01
0
10.7
10.1
10.5
revised construction put in place for December; for change
in business inventories, revised book values for manufacturing
and trade for December; for net exports of goods and services,
revised merchandise trade for December, and revised service
receipts for the quarter; for government purchases of goods
and services, revised construction put in place for December;
for wages and salaries, revised employment, average hourly
earnings and average weekly hours for December; for corporate profits, preliminary tabulations of domestic book profits
for the quarter, revised dividends from abroad and branch
profits (net) for the quarter; and for GNP prices, residential
housing prices for the quarter.
crease in all other transfer payments. Fourth-quarter NIP A revisions
The latter increase included $2% billion
The 75-day revisions of the national
for cost-of-living adjustments for vet- income and product account estimates
erans and military and civilian retirees. for the fourth quarter of 1980 are
shown in table 4.
SUEVEY OF CUKKENT BUSINESS
March 1981
National Income and Product Accounts Tables
The tables that follow are presented in eight groups, and the table numbers reflect these groups. These table numbers will also be used in future publications presenting NIPA estimates. The groups are:
1. National product and income
2. Personal income and outlays
3. Government receipts and expenditures
4. Foreign transactions
5. Saving and investment
6. Product and income by industry
7. Implicit price deflators and price indexes
8. Supplementary table: Percent change from preceding period
Two abbreviations are used in the tables: IVA is inventory valuation adjustment and CCAdj is capital consumption adjustment.
1979
1979
1980'
III
IV
I
II
1980
1979
1980
III
IV r
1979
1980'
IV
III
Seasonally adjusted at annual rates
I
II
III
IV
Seasonally adjusted at annual rates
Billions of 1972 dollars
Billions of dollars
Table 1.1-1.2.—Gross National Product in Current and Constant Dollars
2,413.9 2 626 1 2 444 1 2 496 3 2 571 7 2 564 8 2 637 3 2 730 6 1 483 0 1 480 7 1 488.2 1,490.6 1 501.9 1,463.3 1,471.9
Gross national productPersonal consumption expenditures
1 510 9 1 672 8 1 529 1 1 582 3 1 631 0 1 626 8 1 682 2 1 751 0
Durable goods
Nondurable goods
Services
_.
Gross private domestic investment ._ __ __
Fixed investment .
Nonresident! al
_
Structures
Producers' durable equipment
Residential
_ —
Nonfarm structures
Farm structures _ _ _ _ _ _
Producers' durable equipment
Change in business inventories
Nonfarm- . _
Farm
__ _ _
Net exports of goods and services.
Exports
Imports
__
__ _
Government purchases of goods and services
Federal
National defense.
Nondefense
State and local
212.3
602.2
696.3
211.9
675 7
785 2
213.3
611 5
704 3
216 1
639 2
727 0
415.8
395.3
421 7
398.3
279.7
96 3
183.4
118.6
113.9
1.8
29
17.5
13.4
4. 1
401 2
296 0
108 8
187 1
105 3
100 3
20
30
—5 9
—4.7
—1 2
408 3
288 5
99 6
189 0
119 8
114 9
20
29
13 3
7 8
55
13.4
23 3
17.9
1, 485. <
930 9
935 1
933 4
941 6
943 4
919 3
930-8
946. J
146.6
354 6
429 6
135 8
358 4
440 9
146 7
355 4
431 3
146.0
361 3
434.3
145.4
361 5
436.5
126.2
356.6
436.5
132.6
354.9
443.3
139.
360.'
447.:
220.9
661 1
749 0
194.4
664 0
768 4
208.8
674 2
799 2
410 0
415 6
390 9
377.1
397 7
232 6
203 6
232 6
221.5
218.3
200.5
195.3
200.,
410 8
290 2
105 1
185 1
120 6
115 4
2 3
30
— 8
—4 4
36
413 1
297 8
108 2
189 7
115.2
110 1
22
30
25
15
10
383 5
289 8
108 4
181 4
93 6
88 9
18
29
74
61
13
393 2
294 0
107 3
186 8
99 2
94 5
17
30
— 16 0
—12 3
—3 7
415 1
302 1
111 5
190 7
113.0
107 6
2.2
31
—17 4
—14.0
—3 4
222 5
163 3
48 5
114 8
59.1
56 2
9
20
10 2
7.8
24
206 6
158 4
48 4
110 0
48.1
45 2
.9
20
—2.9
—2.4
— 5
225 0
166 4
49 4
117 0
58.6
55 5
9
21
76
4.5
31
222 2
164.1
50 7
113.5
58.1
54 9
1.1
21
—.7
-2.7
20
219 2
165.0
50 5
114.5
54.2
51 2
1.0
21
—.9
—1.4
5
199.2
156.1
48 7
107.4
43.1
40.3
.8
2.0
1.3
.6
.7
200.2
155. 5
46.8
108.8
44.7
41.9
.7
2.0
—5.0
-3.1
—1.8
207. (
157. (
47. *
7.6
8.2
17.1
44.5
23.3
37.7
52.0
41.1
42.2
50.1
51.7
57.6
48.1
146 9
109.2
161.1
109.1
151 3
110.2
154. 8
112.6
165.9
115.8
160.5
108.9
160.5
102.8
157.^
108. <
223 3
703 5
824 2
109.;
50. (
47. <
l.(
2.(
— 7.J
-5.(
— l.t
281.3
267.9
339 8
316.5
293 1
275 2
306 3
298 7
337 3
329 1
333 3
316 2
342 4
297.9
346.1
322.7
473.8
534.7
475.4
496.4
516.8
530.0
533.5
558.6
281.8
290.0
281.1
285.3
2S0.1
291.9
288.2
289. i
167.9
111.2
56.7
305.9
198 9
131 7
67.2
335 8
165 1
112 0
53.1
310 4
178 1
118.7
59.4
318 3
190 0
125 0
64.9
326 8
198 7
128 7
70.0
331 3
194 9
131.4
63.5
338 6
212.0
141.6
70.4
346.6
101 7
67.1
34.6
180 1
108.1
70.9
37.2
181.9
99 9
67.1
32.8
181.2
103.1
68.3
34.8
182.2
107.6
69.9
37.7
182.5
110.7
70.9
39.7
181.2
106.9
70.9
35.9
181.3
107.;
71. <
35.^
182.;
2,413.9 2,626.1 2 444 1 2 496.3 2 571 7 2 564 8 2 637 3 2 730 6 1 483 0 1 480 7 1 488.2 1,490.6 1 501.9 1,463.3 1,471.9
1, 485. 6
2, 396. 4 2 632 0 2 430 8 2 497 1 2 569 1 2 557 4 2 653 4 2 748 0 1 472 9 1 483.6 1, 480. 6 1, 491. 3 1, 502. 8 1, 462. 0 1, 476. 9
— g
— 7
1 3 —5.0
17.5
2 5
—2 9
76
—5 9
10 2
— 9
13 3
7 4 —16 0 —17 4
1, 492. 7
-7.2
Table 1.3-1.4.—Gross National Product by Major Type of Product in Current and Constant Dollars
Gross national product
Final sales
__ __ __
Change in business inventories
1,055.9 1 130 4 1 064 9 1 078 3 1 116 9 1 106 4 1 129 4 1 169 0
674.5
665 2
673.6
673.3
682.1
658.1
657.5
662.9
1, 038. 5 1 136 3 1 051 6 1 079 1 1 114 4 1 099 0 1 145 4 1 186 3
2.5
17.5
—5.9
13.3
7.4 — 16.0 —17.4
—.8
664 3
10.2
668.1
-2.9
666.0
7.6
674.0
—.7
683.0
—.9
656.8
1.3
662.4
-5.0
670.1
-7.2
476 7
476.0
.7
692.2
710.3
—18.1
296 9
290.2
6.7
377.5
374.1
3.5
279.4
281.3
-1.9
385. 7
386.8
-1.1
295.9
292.1
3.8
377.7
373.8
3.8
289.6
289.9
-.3
383.7
384.1
—.4
290 6
295.2
-4.6
391.4
387.7
3.7
270.8
270.1
.7
387.3
386.7
.6
274.6
278.4
-3.8
382.9
384.0
—1.1
281.8
281.5
.3
381.1
388.6
-7.5
Services .
Structures
1,097.2 1,229.6 1,112.0 1,142.8 1,178.6 1,205.6 1,249.0 1, 285. 3
276.4
260.8
266 0
267 3
275 1
276 2
252.8
258.9
678.0
130.6
695. 7
119.8
683.0
131.6
684.9
132.4
690.7
129.1
690.6
114.6
699.9
114.5
701.7
121.0
Addenda :
Gross domestic purchases 1
Final sales to domestic purchasers ]
2, 400. 5 2, 602. 8 2 426 2 2 488 7 2 563 5 2 547 7 2, 592 8 2, 707. 3 1, 445. 3 1, 428. 7 1, 447. 1 1, 448. 4 1,451.8 1,411.6 1,414.3
2, 383. 0 2, 608. 7 2,412.9 2, 489. 5 2, 560. 9 2,540 3 2, 608. 8 2, 724. 6 1, 435. 1 1,431.7 1, 439. 5 1, 449. 1 1, 452. 7 1, 410. 4 1,419.2
1, 437. 1
1, 444. 2
Goods .
Final sales
Change in business inventories
Durable goods
Final sales
_ _
Change in business inventories
Nondurable goods
Final sales _
Change in business inventories
_
_
_
451.2
439.7
11.5
604.7
598.8
6.0
458 6
462 6
-4.0
671 9
673.7
—1 8
455 9
449 2
6.7
609 0
602.4
66
448 1
448.4
-.4
630 3
630.7
— 5
456 4
468 2
— 11.8
660 5
646.2
14 3
Revised.
NOTE.—Percent changes from preceding period for selected items in these tables are shown
in table 8.1.
444 6
441.3
3.3
661.8
657.7
41
456 5
464.9
-8.4
672.9
680.5
—7 7
1. Gross domestic purchases equals gross national product less exports plus imports; final
sales to domestic purchasers equals final sales less exports plus imports.
SURVEY OF CURRENT BUSINESS
8
March 1981
Table 1.5-1.6.—Gross National Product by Sector in Current and Constant Dollars
1980
1979
1980'
1979
I
IV
III
II
III
IVr
1979
1980'
III
I
IV
II
Billions of 1972 dollars
Billions of dollars
2,413.9 2,626.1 2,444.1 2,496.3 2,571.7 2,564.8 2,637.3 2,730.6 1,483.0 1,480.7 1,488.2 1,490.6 1,501.9 1,463.3
Gross national product
2,370.1
Gross domestic product
Business
- - 2, 046. 3
1, 974. 1
Nonfarm
_ „
_
_ __
1, 786. 0
Nonfarm less housing
188.1
Housing
70.0
Farm .. __
2.2
Statistical discrepancy
75.7
Households and institutions
6.4
Private households
69.3
Nonprofit institutions
Government
248.1
75.8
Federal
_ _
172.3
State and local
43.8
Rest of the world
Addendum:
Gross domestic business product less housing. __ 1, 858. 2
2, 576. 5
2, 221. 2
2, 153. 7
1, 940. 9
212.8
68.1
-.6
85.9
6.7
79.2
269.3
81.9
187.4
49.7
2,396.0
2, 069. 8
1,996.5
1, 805. 4
191.0
70.4
2.8
76.9
6.6
70.3
249.4
74.9
174.5
48.1
1980'
2,520.2
2, 176. 9
2, 106. 4
1, 903. 6
202.8
67.7
2.8
82.1
6.6
75.5
261.2
79.6
181.6
51.5
2,516.7
2,166.4
2, 100. 8
1,891.7
209.1
67.5
-1.9
84.4
6.7
77.7
265.9
80.5
185.4
48.1
2,586.9
2, 230. 0
2, 159. 1
1, 943. 1
216.0
67.9
3.0
86.9
6.7
80.2
269.9
80.7
189.3
50.5
2,682.0
2,311.4
2, 248. 4
2,025.1
223.3
69.4
-6.4
90.4
6.9
83.5
280.3
87.1
193.3
48.6
1,455.9
I, 258. 3
1, 222. 1
1, 094. 8
127.3
34.9
1.4
43.7
3.5
40.2
153.9
49.0
104.9
27.2
1,452.4
1, 251. 8
1,216.8
1,084.5
132.3
35.3
-.3
45.4
3.5
41.9
155.2
49.2
106.0
28.3
1,462.4
1, 263. 6
1, 228. 2
1, 099. 1
129.1
35.8
-.4
44.4
3.6
40.8
154.5
48.9
105. 6
28.1
IV
1,471.5
1, 271. 9
1, 233. 3
1, 103. 0
130.3
37.0
1.6
44.8
3.5
41.3
154.8
49.0
105.8
30.4
1,435.5
1, 235. 2
1, 198. 5
1, 066. 8
131.7
37.8
-1.1
44.9
3.5
41.5
155.4
49.4
105.9
27.8
1979
1980
1979
III
1,458.6
1, 260. 0
1, 223. 2
1, 095. 0
128.2
35.1
1.7
44.2
3.6
40.6
154.4
49.0
105.3
29.6
2,008.4 1, 878. 7 1, 916. 6 1, 974. 1 1, 957. 3 2, 014. 0 2, 088. 0 1, 131. 0 1,119.5 1, 131. 9 1, 134. 4 1, 141. 6 1, 103. 5
1979
1979
2,449.7
2,113.9
2, 043. 6
1, 846. 3
197.3
71.0
-.7
79.4
6.6
72.8
256.4
79.0
177.3
46.6
I
II
III
IVr
III
Seasonally adjusted at annual rates
Seasonally adjusted at annual rates
1980'
IV'
III
1,471.9 1,485.6
1,443.4
1, 242. 3
1, 207. 6
1, 074. 6
133.0
33.1
1.7
45.6
3.4
42.1
155.5
49.4
106.1
28.5
1,458.9
1, 257. 5
1, 227. 8
1, 093. 6
134.2
33.2
-3.5
46.1
3.4
42.7
155.3
48.9
106.3
26.7
1, 109. 4 1, 123. 3
1980
IV
I
II
III
IV
Seasonally adjusted at annual rates
Seasonally adjusted at annual rates
Billions of dollars
Billions of dollars
Table 1.11.—National Income by Type of Income
Table 1.7.—Relation of Gross National Product, Net National
Product, National Income, and Personal Income
Gross national product
2,413.92,626.12,444.1 2,496.3 2,571.7 2,564.8 2,637.3
Less: Capital
consumption
allowances
with
CCAdj
253.6 287.3 259.6 265.1 274.6 283.7 291.8
Capital consumption
allowances without
CCAdj
199.2 224.1 203.4 208.1 215.6 220.3 226.9 233.7
Less: CCAdj—
-54.5 -63.1 -56.1 -57.0 -59.0 -63.4 -64.9 -65.2
Equals: Net national product.. 2,160.3 2,338.9 2,184.6 2,231.2 2,297.1 2,281.1 2,345.5 2,431.7
Less: Indirect business tax
and nontax liability... 188.4 212.3 190.0 193.5 198.9 206.3 215.8 228.0
Business transfer payments
9.4
10.5
9.6
9.8
10.1
10.6
10.3
10. 9
Statistical discrepancy...
2.2
-.6
2.8
2.8 -1.9
-.7
3.0 -6. 4
Plus: Subsidies less current
surplus of government
enterprises
3.1
4.6
4.0
2.7
3.1
3.7
6.3
5.4
Equals: National income
1,963.32,121.4 ,986.2 2,1,031.32, 088.52, 070. 02,,122.4 2,204.5
Less: Corporate profits with
IVA and CCAdj
196.8 182.6 199.5 189.4 200.2 169.3 177.9 183.0
Net interest
_
143.4 179.8 146.8 156.5 165.4 175.3 185.3 193.3
Contributions for social
insurance
187.1 203.7 188.5 192.2 198.8 199.5 204.1 212.3
Wage accruals less disbursements
._.
-.2
-.1
-.2
0
.2
-.5
.5
Plus: Government
transfer
payments to persons... 239.9 283.8 248.3 253.3 261.6 270.3 300.1 303.1
Personal interest income. 209.6 256.3 214.3 225.7 239.9 253.6 261.8 269.7
Personal dividend in54.4
come
48.6
48.6
50.1 52.4
54.2
55.1 56.1
Business transfer payments.._
9.4
10.5
9.6
9.8
10.1
10.3 10.6 10.9
Equals: Personal income
1,943.8 2,160.2 1,972.3 2,032.0 2, 088.22, 114.52,182.12,256.2
National income
1,963.3 2,121.4 1,986.2 2,031.3 2,088.5 2, 070. 0 2, 122. 4 2,204.5
Compensation of employees
1,460.9 1,596.5 1,476.7 1,518.1 1,558.0 1,569.0 1,597.4 1,661.8
Wages and salaries
._ .. 1, 235. 9 1, 343. 6 1,248.5 1,282.4 1, 314. 5 1, 320. 4 1, 342. 3 1,397.3
Government and govern235.9 253.6 237.0 243.3 246.7 250.5 253.9 263.3
ment enterprises . .
1,000.0 1,090.0 1, Oil. 6 1, 039. 1 1, 067. 9 1, 069. 9 1, 088. 4 1,134.0
Other
Supplements to wages and
225.0 252.9 228.2 235.7 243.5 248.6 255.0 264.5
salaries
Employer contributions
106.4 115.8 107.3 109.8 112.6 113.6 116.0 121.0
for social insurance
118.6 137.1 120.9 126.0 130.9 135.1 139.1 143.5
Other labor income
Proprietors' income with IVA
130.6 132.9 136.3 133.7 124.9 129.7 134.0
131.6
and CCAdj
30.8 23.4
Farm
30.2
29.5
25.7
23.3 22.1 22.5
Proprietors' income with
30.3
29.6
36.6
32.3
35.7
30.2
29.0
36.2
IVA
. ..
-7.2
-5.8 -6.9 -5.9 -6.2 -6.5 -6.9 -6.9
CCAdj
-. Nonfarm
...
Proprietors' income
IVA
-. . -.
CCAdj
Rental income of persons with
CCAdj
Rental income of persons
CCAdj
Corporate profits with IVA
and CCAdj
Corporate profits with IVA.
Table 1.8.—Relation of Gross National Product, Net National
Product, and National Income in Constant Dollars
CCAdj
Gross national product
1,483.0 1 ,480. 7 1,488.2 1,490.6 1,501.9 1,463.3 1,471.9 1.485.6
Less: Capital consumption allowances with CCAdj. 141.6 147.5 143.1 144.1 145.9 146.6 147.9 149.5
Equals: Net national product. .1,341.4 1,333.2 1,345.2 1,346.5 1,356.0 1,316.6 1,324.0 1, 336. 1
Less: Indirect business tax
and nontax liability
plus business transfer
payments less subsidies plus current surplus of government
enterprises
143.5 149.0 144.0 145.7 147.5 147.2 149.2 151.9
Statistical discrepancy. „
—.3
1.4
1.7
-.4
1.6 -1.1
1.7 —3,5
Equals: National income
1,196.5 1,184.6 1,199.5 1,201.2 1,206.9 1, 170. 6 1, 173. 1 1,187.7
100.7
105.2
-3.4
-1.0
107.2
112.7
-3.7
-1.9
.
102.7
107.3
-3.5
-1.2
106.8
112.2
-4.0
-1.5
107.9
114.8
-5.3
-1.6
101.6
105. 5
-2.0
-1.9
107.6
113.1
-3.5
-2.0
111.6
117.5
-4.0
-2.0
30.5
32.4
31.8
32.0
31.0
30.3
31.5
31.2
58.9
66.4
64.9 59.7
61.4
62.9
64.5
65.9
-28.3 -33.1 -29.4 -30.4 -31.6 -33.0 -33.9 -33.9
196.8
182.6
212.7
199.8
255.4 245.5
Profits before tax
87.6
Profits tax liability
82.3
167.8 163. 1
Profits after tax
50.2
Dividends
56.0
Undistributed profits. 117.6 107.1
-42.6 -45.7
IVA
Billions of 1972 dollars
1980
1979
-15.9 -17.2
199.5
189.4
200.2
169.3
177.9
183.0
215.6
204.5
215.6
186.9
195.9
200.8
262.0 255.4 277.1 217.9 237.6 249.2
87.2
94.2
78.5
85.1
88.4
71.5
173.6 168.2 182.9 146.5 159.1 164.1
57.7
51.6
50.2
55.7
56.7
53.9
123.5 116.6 128.9
90.7 102.4 106.4
-46.5 -50.8 -61.4 -31.1 -41.7 -48.4
-16.1 -15.1 -15.4 -17.6 -17.9 -17.8
Net interest
143.4
179.8
146.8
156.5
165.4
175.3
185.3
193.3
Addenda:
Corporate profits after tax
with IVA and CCAdj--.
Dividends
Undistributed profits with
IVA and CCAdj
109.2
50.2
100.3
56.0
111.1
50.2
102.2
51.6
106.0
53.9
97.8
55.7
99.5
56.7
97.9
57.7
59.1
44.3
60.9
50.6
52.1
42.1
42.8
40.2
r
Revised.
NOTE.—Percent changes from preceding period for selected items in table 1.5-1.6 are shown
in table 8.1.
SURVEY OF CUKEENT BUSINESS
March 1981
Table 1.13.—-Gross Domestic Product of Corporate Business in Current Dollars and Gross Domestic Product of Nonfinancial
Corporate Business in Current and Constant Dollars
1
1979
1979
1980 r
III
1979
1980
I
IV
II
III
1979
IV r
1980 r
III
Gross domestic product
of corporate business. _ 1,494.9 1,616.5 1,510.8 1,539.8 1,584.0 1,576.7 1,617.5 1, 687. 7
155.4
175.4
161.5
158.7
167.1
178.4
173.0
183.2
1, 339. 5 1,441.1 1,352.1 1, 378. 3 1,416.9 1, 403. 7 1, 439. 0 1, 504. 6
Indirect business tax and
nontax liability plus business transfer payments
less subsidies
139.6
159.3
143.5
140.9
148.1
162.4
154.4
172.5
Domestic income
1, 199. 8 1, 281. 7 1,211.2 1,234.8 1, 268. 9 1,249.3 1, 276. 6 1, 332. 1
Compensation of employ1,011.5 1, 103. 1 1,023.5 1,051.4 1,079.9 1,083.0 1, 101. 7 1, 147. 8
ees
Wages and salaries
845.9 917.9 855.4 877.8 901. 1 900.8 915.2 954.6
Supplements to wages
and salaries
165.6 185.2 168.1 173.6 178.8 182.2 186.4 193.2
Corporate profits with
IV A and CCAdj
166.5 151.5 164.4 157.7 163.6 140.0 147.0 155.3
Profits before tax
225.0 214.3 226.9 223.7 240.4 188.6 206.7 221.5
78.5
82 3
85.1
87.2
Profits tax liability
71.5
94.2
88.4
87.6
Profits after tax
__. 137.4 mo 138.6 136.5 146.2 117.1 128.2 136.5
37.4 32.3 35.3 34.3 37.9
Dividends
39.5
37.9
34.9
90.3
94.6 106.3 101.2 112.0
Undistributed profits 102.5
96.9
79.3
45.7 -46.5 -50.8 -61.4 -31.1 -41.7 -48.4
IVA. .
—42.6
CCAdj
- -15.9 -17.2 -16.1 -15.1 -15.4 -17.6 -17.9 -17.8
29.0
27.2
27.9
26.3
25.3
25.6
23.3
21.9
Net interest
- Gross domestic product
of financial corporate
business .-
77.9
81.4
78.6
82.0
82.0
79.7
80.4
83.4
Gross domestic product
of nonfinancial corpo1,417.0 1, 535. 1 1,432.1 1,457.7 1,502.1 1,496.3 1,537.7 1,604.3
rate business
Capital consumption allowances with CCAdj
147.5
165.9
152.9
150.7
158.2
168.6
163.6
173.0
1980
III
IV r
Net domestic product
1,269.5 1,369.2 1,281.5 1,304.8 1,343.9 1,332.7 1,369.1 1,431.3
Indirect business tax and
nontax liability plus business transfer payments
less subsidies
133.6 152.5 134.8 137.3 141.7 147.7 155.4 165.1
Domestic income
1,135.9 1,216.8 1, 146. 7 1,167.5 1,202.3 1,185.0 1,213.6 1, 266. 2
Compensation of employees
954.0 1, 037. 2 965.2 991.1 1,017.3 1,018.0 1,034.8 1,078.5
Wages and salaries
798.9 864.2 807.7 828.4 849.9 847.9 860.9 898.2
Supplements to wages
and salaries
155.2 172.9 157.5 162.7 167.4 170.1 173.9 180.4
Corporate profits with
IVA and CCAdj. .
136.7 123.5 134.8 127.3 132.6 112.5 121.2 127.8
Profits before tax
Profits tax liability
Profits after tax
Dividends
Undistributed profits.
IVA
CCAdj
Net interest
193.4
69.7
123.7
37.3
183.7
63.1
120.6
40.4
195.5
70.5
125.0
34.9
191.1
68.4
122.7
38.2
207.2
74.3
132.9
36.9
158.6
52.0
106.6
41.1
177.9
60.3
117.6
40.8
190.9
65.8
125.1
42.7
80.2 90.1 84.5 96.0 65.5 76.8 82.4
86.3
-42.6 -45.7 -46.5 -50.8 -61.4 -31.1 -41.7 -48.4
-14.1 -14.4 -14.2 -13.0 -13.1 -14.9 -15.0 -14.7
56.1 46.7 49.1 52.3 54.4 57.6
59.9
45.2
Billions of 1972 dollars
Gross domestic product
of nonfinancial corporate business
873.3
867.1
874.3
873.4
878.2
853.2
860.4
876.7
Capital consumption allowances with CCAdj
84.6
88.1
85.5
86.1
87.1
87.6
88.5
89.4
788.7
779.0
788.8
787.3
791.2
765.7
771.9
787.3
92.7
696.0
95.4
683.6
92.7
696.1
93.9
693.5
94.9
696.2
94.1
671.6
95.3
676.5
97.2
690.1
Net domestic product _
Indirect business tax and
nontax liability plus business transfer payments
less subsidies
Domestic income
1980
1980
1979
1979
II
Billions of dollars
Billions of dollars
Net domestic product
I
IV
Seasonally adjusted at annual rates
Seasonally adjusted at annual rates
Capital consumption allowances with CCAdj
1980
Ill
III
IV
1979
1980 r
III
II
IV
III
IV «•
Seasonally adjusted at annual rates
Seasonally adjusted at annual rates
Billions of 1972 dollars
Billions of dollars
Table 1.14-1.15.—Auto Output in Current and Constant Dollars
Auto output
Final sales
Personal consumption expenditures
New autos
Net purchases of used autos .
Producers' durable equipment
New autos
Net purchases of used autos
Net exports
Exports
Imports
Government purchases of goods and services
Change in business inventories of new and used
autos
New
.
Used
Addenda:
l
Domestic output of new autos
Sales of imported new autos 2
68.0
60.2
64 9
61.8
64.4
53.6
54 3
68 8
46 8
38 6
44.0
41.4
42.5
34.6
34.6
42.8
69.2
65 3
49 4
15.9
13 2
22.2
—9.1
—10.1
4.7
14.8
.8
62.2
61 8
46 2
15.6
12 4
21.2
—8.8
—12.9
40
16.8
.8
69 8
65 0
49 7
15 2
14 7
24 2
—9 5
—10 8
4 8
15 5
.9
65.7
64 2
48 5
15.7
11 2
19 5
—10 5
4 9
15 4
.8
73 8
71 6
54 8
16 9
12 9
22 2
—9 4
— 11 5
4 8
16 3
.8
51 5
50 7
36 8
13 9
11 0
18 3
—7 3
— 10 9
39
14 8
.8
57 8
58 7
44 3
14 4
13 3
21 9
—8 7
—15 1
34
18 4
.8
65 5
66 1
48 8
17 3
12 5
22 4
—9 9
—13.9
3.9
17.8
.8
47 3
41 3
33 1
82
9 9
14 9
—5 0
—4 4
31
76
.6
39 9
36 5
28 6
7.8
85
13. 2
—4.7
—5.5
2.4
8.0
.5
47.4
40 8
32 8
8.0
10 6
15.9
—5 3
—4.7
3. 1
7.8
.6
44.1
39 9
31 8
8.1
8.2
12.8
—4.6
—4.5
3.2
7.7
.5
48.3
43 7
35 0
8.7
9. 1
14.2
—5.1
—5.0
3.1
8.1
.5
33.5
30 4
22 9
7.5
7.3
11.4
—4.1
—4.6
2.4
7.1
.5
36.8
34 3
26 9
7.4
8.6
13.4
—4.8
—6.6
1.8
8.4
.5
40.9
37.5
29.7
7.8
8.9
13.6
-4.7
-6.0
2.4
8.3
.5
—1.2
—1.0
— 2
—1 9
—1.3
— 6
—4.9
—5.1
2
—3.9
—3.3
— 6
—9.5
—8 3
—1 2
2.0
34
—14
—3.5
—3 8
4
32
3.5
— 3
— .5
—.4
— 1
-1.3
—.9
_ 3
—3.3
—3.4
1
—2.7
—2.4
_ 3
—5.8
—5.2
— 6
1.0
1.8
_ g
-2.2
—2.4
2
1.9
2.1
— 1
57 8
19.4
48 8
21.7
55 6
19.2
50 1
19.8
51 6
24.3
43 0
18.2
45 3
21.2
55 4
23.2
38 7
12.9
30 2
13.5
36 5
12.7
32 8
13.0
33 0
15.6
26 8
11.4
27.3
12.9
33.7
14.1
Table 1.16-1.17.—Truck Output in Current and Constant Dollars
Truck output
J
Final sales
Personal consumption expenditures
__
Producers' durable equipment .. .
Net exports
Exports
Imports
Government purchases of goods and services
Change in business inventories.
r
37.8
25 7
34 5
32 6
28 0
23 8
23 2
27 7
22 3
13 8
19 8
19 0
15 7
12.8
12 2
14.3
37 7
11.4
23.7
—.4
37 6
10.8
23 9
_ 2
32
34
3.1
36 4
11.4
22 0
_ i
35
37
3.1
30 9
91
19 4
_ s
30
37
3.2
26 1
7 3
16 1
_ 7
2 9
35
3.3
27 5
79
18 0
—1 9
31
50
3.4
26 8
75
16 8
—1 0
33
4.3
3.5
22 3
76
13 3
— 4
19
2 3
1.7
14 9
49
91
— 8
16
2 3
1.7
21 8
1\\
13 3
— 3
3.3
38
3.0
27 8
7.9
17 6
—1 1
31
41
3.3
18
21
1.7
21 0
7.5
12 1
_ 3
2 0
22
1.7
17 3
5.8
10 4
— 6
16
22
1.7
14 1
4.5
84
— 6
15
21
1.7
14 5
4.8
9.1
—1.2
1.6
28
1.7
13 7
4.5
8.2
—.7
1.6
23
1.7
.1
—2 1
—3.1
—3.8
—2 9
—2 2
—4 3
9
1
—1 2
—2 0
—2 1
—1.6
—1.3
—2.2
.5
Revised.
Table 1.14-1.16:
1. Consists of final sales and change in business inventories of new autos produced in the
United
States.
2. Consists of personal consumption expenditures, producers' durable equipment, and
http://fraser.stlouisfed.org/
government purchases.
Federal Reserve Bank of St. Louis
Table 1.16-1.17:
1. Includes new trucks only.
10
SURVEY OF CURRENT BUSINESS
1979
1979
1980 '
III
March 1981
1980
IV
I
II
1979
IV r
III
1980 '
1979
Seasonally adjusted at annual rates
1980
IV
III
I
II
III
IV r
Seasonally adjusted at annual rates
Billions of dollars
Billions of dollars
Table 2.1.—Personal Income and Its Disposition
Table 2.2-2.3.— Personal Consumption Expenditures by Major Type
of Product in Current and Constant Dollars
Personal income
1,943.8 ,160.2 ,972.3 ,032.0 ,088.2 ,114.5 ,182.12,256.2
Wage and salary disbursements
1,236.1 ,343.7 ,248.6 ,282.2 ,314.7 ,320.4 ,341.8 1,397.8
Commodity-producing industries
Manufacturing
Distributive industries
Service industries
Government and government enterprises
Durable goods
437.9
333.4
303.0
259.2
465.4
350.7
328.9
295.7
441.6
335.5
306.5
263.4
450.4
340.4
315.0
273.7
461.7
347.9
322.6
283.6
456.0
343.2
323.2
290.8
460.1
346.7
329.2
298.7
484.0
364.0
340.6
310.0
236.1
253.6
237.1
243.1
246.8
250.5
253.9
263.3
Other labor income
118.6
137.1
120.9
126.0 130.9
135.1
139.1
143.5
Proprietors' income with IVA
and CCAdj..
131.6
130.6 132.9 136.3 133.7 124.9 129.7 134.0
30.8
100.7
23.4
107.2
30.2
102.7
29.5
106.8
25.7
107.9
23.3
101.6
22.1
107.6
22.5.
111.6
30.5
31.8
30.3
31.0
31.2
31.5
32.0
32.4
48.6
54.4
48.6
50.1
52.4
54.2
55.1
56.1
Personal interest income
209.6
256.3
214.3 225.7
239.9
253.6
261.8
269.7
Transfer payments
249.4
294.2
257.8
263.1 271.7
280.7
310.7
313.9
131.8
153.8
137.8
139.3
142.0
144.7
163.2
165.3
9.8
14.4
16.0
15.0
9.8
14.4
10. b
14.6
11.4
14.8
16.0
14.6
19.0
14. (J
17.5
15.5
37.0
56.4
42.8
66.7
37.3
58.4
39.2
59.3
40.2
63.3
42.3
63.0
43.1
70.5
45.7
69.9
11.0
45.4
12.4
54.3
11.1
47.3
11.5
47.8
11.7
51.6
12.0
51.0
12.8
57.7
13.1
56.8
0.6
87.9
81.2
82.4
86.2
85.9
88.1
91.2
Farm
Nonfarm
Rental income
with CCAdj
__.
of
Old-age, survivors, disability, and health insurance benefits
Government
unemployment insurance benefits...
Veterans benefits
Government
employees
retirement benefits
Other transfer payments...
Aid to families with dependent children
Other
Less: Personal contributions
for social insurance
Less: Personal tax and nontax
payments
302.0
338.5
8.4
321.8 323.1 330.3
341.5 359.2
1,555.5 1 ,720.4 ,574.5 1,629.4 1,678.' 1,674.1 1,729.: 1,799.4
Personal consumption expenditures
1,510.9 1,672.8 1,529.1 1,582.3 1,631. C 1,626.8 1,682.2 1,751.0
Interest paid by consumers
46.0
46.3
46.8
44.5
46.7
to business
43. 7
46.4
45.8
Personal transfer payments
1.0
1.0
1.6
1.0
to foreigners (net)
_—
1.0
1.2
.9
1.3
Equals: Personal saving
86.2 101.3
89.3
86.4
110.0
111.
r
5.3
5.6
5.4
4.
4.9
6.2
6.1
5.1
Revised.
Table 2.1:
NOTE.—Percent changes from preceding period for selected items in this table are shown in
table 8.1.
Table 8.14:
NOTE.—In this table interest and dividends received is included in receipts; in tables 3.1,
3.2 and 3.3, interest and dividends received is netted against expenditures.
Food .
Clothing and shoes
Gasoline and oil
Other nondurable goods
Fuel oil and coal
Other
Housing - - . - _ _ _
Househol d operation
Electricity and gas
Other...
..
Transportation
Other.
211.9
213.3
216.1
220.9
194.4
208.8
223.3
95.5
89.9
94.7
95.4
100.6
77.5
87.0
94.6
81.1
35.8
84.6
37.3
82.4
36.2
83.8
37.0
83.6
36.8
81.3
35.6
84.6
37.2
88.9
39.8
602.2
675.7
611.5
639.2
661.1
664.0
674.2
703.5
312.1
98.9
68.4
122.9
16.0
106.9
345.7
104.8
89.0
136.2
19.8
116.4
314.3
100.3
72.1
124.9
17.9
107.0
329.0
102.5
77.6
130.0
18.1
111.8
336.2
102.2
89.4
133.3
18.8
114.5
338.4
102.3
90.9
132.4
19.2
113.1
347.7
105.3
85.3
136.0
20.7
115.3
360.4
109.4
90.5
143.3
20.5
122.7
696.3
785.2
704.3
727.0
749.0
768.4
799.2
824.2
241.9
98.7
47.3
51.3
57.2
298.5
272.0
111.6
55.7
56.0
64.1
337.5
275.7
116.1
59.3
56.8
65.8
341.5
285.3
116.9
58.8
58.2
67.5
354.5
244.9
99.5
47.3
52.2
58.2
301.7
253.0
102.7
49.8
52.9
59.9
311.4
259.8
104.2
50.0
54.2
61.4
323.7
267.3
109.3
54.5
54.8
61.6
330.2
Personal consumption
expenditures
930.9
935.1
933.4
941.6
943.4
919.3
930.8
946.8
...
146.6
135.8
146.7
146.0
145.4
126.2
132.6
139.1
Motor vehicles and parts
Furniture and household
equipment
Other
61.7
53.8
60.8
60.3
62.1
47.0
51.5
54.6
59.8
25.1
58.9
23.1
60.7
25.2
60.7
25.0
59.6
23.8
57.0
22.2
58.4
22.6
60.7
23.8
354.6
Durable goods
Nondurable goods
Food
.
...
Clothing and shoes
Gasoline and oil
Other nondurable goods
Fuel oil and coal
Other.
.
..
Services
Housing
Household operation
-.
Electricity and gas
Other .
.
Transportation
Other
358.4
355.4
361.3
361.5
356.6
354.9
360.4
176.7
76.6
28.1
73.2
4.7
68.5
181. 5
78.0
26.2
72.6
4.2
68.4
177.4
77.4
27.4
73.2
4.8
68.3
181.3
78.4
27.2
74.4
4.5
69.9
183.6
76.9
27.0
73.9
4.2
69.7
182.2
76.7
26.4
71.2
4.1
67.2
180,1
78.3
25.2
71.4
4.3
67.0
179.9
80.1
26.3
74.1
4.2
69.8
429.6
440.9
431.3
434.3
436.5
436.5
443.3
447.3
159.3
59.6
23.1
36.5
35.5
175.2
164.2
61.5
23.3
38.3
34.8
180.4
159.8
59.6
22.6
37.0
35.8
176.1
160.9
60.1
23.0
37.1
35.5
177.7
162.1
60.0
22.3
37.7
35.2
179.2
163.5
61.3
23.1
38.2
34.1
177.7
164.8
62.6
24.1
38.4
34.7
181.2
166.5
62.1
23.4
38.7
35.1
183.6
97.6
Addenda:
Disposable personal income
Total, billions of 1972
1, Oil. 5 1,018.4 1,015.7 1,017. 7 1,021.0 1,008.2 1,018.5 1,025.8
dollars
Per capita:
Current dollars
7,441 8,176 7,533 7,722 7,953 8,020 8,249 8,479
1972 dollars
4,584 4,571 4,598 4,596 4,600 4,532 4,565 4,585
Population (millions)...
220.6 222.8 220.9 221.5 221.t 222.4 223.1 223.7
Personal saving as percentage of disposal personal
income
Nondurable goods
212.3
Billions of 1972 dollars
Equals: Disposable personal
income..
1,641.7 1,821.7 1,663. 8 1,710.1 1,765.1 1,784. 1 1,810.6 1,897.0
Less: Personal outlays
Motor vehicles and parts
Furniture and household
equipment .
Other
Services. -.
persons
Personal dividend income
Personal consumption
1,510.9 1,672.8 1,529.1 1,582.3 1, 631. 0 1,626.8 1,682.2 1,751.0
expenditures.
Billions of dollars
Table 3.14.— State and Local Government Social Insurance Funds
Receipts and Expenditures
Receipts
Contributions
surance
40.2
45.1
41.0
42.1
42.9
43.6
46.0
47.8
28.1
31.5
28.6
29.2
29.6
30.2
32.3
33.7
7.5
20.7
7.7
23.8
7.5
21.1
7.7
21.5
7.5
22.2
7.0
23.2
8.1
24.3
8.4
25.3
18.3
2.4
21.0
2.8
18.6
2.5
19.0
2.5
19.6
2.6
20.5
2.7
21.4
2.8
22.4
2.9
12.1
13.6
12.4
12.9
13.3
13.4
13.7
14.1
16.4
18.2
16.6
17.1
17.6
17.9
18.3
18.8
.5
15.8
.6
17.6
.5
16.1
.5
16.6
.5
17.0
.5
17.4
.6
17.8
.6
18.2
23. S
26.9
24.5
25.0
25.3
25.7
27.7
29.0
for social in-
Persona] contribution
Employer contributions
Government and government enterprises
Other
.-Interest and dividends received
Expenditures
Administrative expenses (purchases of goods and ser vices) .
Transfer payments to persons.
Surplus or deficit (— )
March 1981
11
SUEVEY OF CURRENT BUSINESS
Table 3.7B-3.8B.—Government Purchases of Goods and Services by Type in Current and Constant Dollars
1979
1980 '
1979
1980
1979
III
I
IV
II
III
IV'
1979
1980 '
III
_ _
475.4
496.4
516.8
530.0
533.5
558.6
281.8
290.0
281.1
285.3
290.1
291.9
288.2
289.8
26.8
7.0
74.9
48.8
27.7
21.0
26.2
2.4
198.9
131.7
32.9
10.9
84.7
52.8
30.4
22.4
31.9
3.1
165.1
112.0
26.6
7.4
75.3
48.2
27.3
20.8
27.1
2.7
178.1
118.7
29.5
8.2
78.5
51.0
29.1
21.9
27.5
2.4
190.0
125.0
31.5
9.8
80.8
51.3
29.3
22.0
29.5
2.9
198.7
128.7
32.3
10.4
83.1
51.4
29.4
21.9
31.8
2.9
194.9
131.4
32.9
10.5
84.1
51.8
29.7
22.1
32.3
3.8
212.0
141.6
34.9
13.1
90.7
56.8
33.2
23.6
33.9
2.9
101.7
67.1
16.6
2.4
46. 7
32.0
18.8
13.2
14.7
1.4
108.1
70.9
18.4
2.5
48.5
32.1
18.9
13.2
16.4
99.9
67.1
16.0
2.4
47.2
32.0
18.8
13.3
15.1
103.1
68.3
17.7
2.4
46.9
32.0
18.8
13.2
14.9
107.6
69.9
18.2
2.3
47.8
32.0
18.8
13.2
15.8
110.7
70.9
18.3
2.5
48.7
32.0
18.8
13.2
16.7
106.9
70.9
18.0
2.3
48.7
32.2
18.9
13.2
16.5
1.9
107.4
71.9
18.9
2.8
48.8
32.1
19.0
13.1
16.7
1.4
56.7
.6
2.0
48.1
27.0
21.0
6.0
67.2
1.5
4.1
55.1
29.1
25.9
6.6
53.1
1.2
-3.0
48.5
26.7
21.8
6.4
59.4
-1.1
3.8
50.8
28.0
22.8
5.9
64.9
1.5
4.4
52.3
28.3
24.1
6.7
70.0
1.3
7.8
54.6
29.1
25.4
6.3
63.5
1.5
-1.1
56.3
28.8
27.5
6.8
70.4
1.6
5.3
57.0
30. 3
26.7
6.5
34.6
.7
1.1
29.6
17.0
12.6
3.2
37.2
.9
2.0
31.1
17.1
14.0
3.2
32.8
.9
-1.4
29.9
17.0
12.9
3.4
34.8
0
1.6
30.1
16.9
13.1
3.1
37.7
1.0
2.9
30.5
17.0
13.5
3.4
39.7
.8
4.5
31.4
17.5
13.9
3.1
35.9
.9
-.1
31.9
17.2
14.6
3.2
35.4
.9
.8
30.7
16.8
13.9
3.0
305.9
335.8
318.3
10.1
24.3
10.3
25.0
331.3
10.5
25.7
338.6
346.6
10.6
26.3
310.4
9.9
23.7
235.1
174.5
60.6
41.7
326.8
9.8
23.4
177.3
62.5
44.1
181.6
63.8
46.1
185. 4
65.3
44.4
189.3
67.1
44.9
180.1
6.2
13.4
140.2
104.9
35.3
20.4
181.9
6.3
13.7
141.4
106. 0
35.4
20.5
181.2
6.3
13.4
140.7
105. 3
35.3
20.8
182.2
6.3
13.4
141.1
105.6
35.5
21.4
182.5
6.2
13.5
141.1
105.8
35.3
21.6
181.2
6.3
13.6
141.1
105.9
35.2
20.2
181.3
6.3
13.7
141.4
106.1
35.3
20.0
182.4
6.2
14.0
142.0
106.3
35.6
20.2
232.4
253.7
187.4
66.3
45.3
172.3
60.1
40.3
1979
Receipts
-. -
494.4
1980 r
III
245.4
239.8
250.7
10.7
26.7
256.3
10.9
27.8
262.2
193. 3
69.0
45.7
Table 3.3.—State and Local Government Receipts and Expenditures
1980
IV
I
II
1980
1979
III
IV r
1979 1980'
IV
III
I
II
III
IV r
Seasonally adjusted at annual rates
Seasonally adjusted at annual rates
Billions of dollars
Billions of dollars
540.8 500.6
Personal tax and nontax re231.4 257.8
ceipts
225.7 251. 0
Income taxes
6.6
5.5
Estate and gift taxes
.2
.2
Nontaxes
- -
Billions of 1972 dollars
534.7
Table 3.2.—Federal Government Receipts and Expenditures
1979
IVr
167.9
111.2
.
-
III
473.8
Nondefense
Durable goods
Nondurable goods
Services
Compensation of employees
Other services
Structures
State and local
Durable goods
Nondurable goods
Services
Compensation of employees
Other services
Structures
II
Seasonally adjusted at annual rates
Billions of dollars
Federal .
__ _
National defense
Durable goods
_ Nondurable goods
Services
Compensation of employees
Military
Civilian
Other services
Structures
I
IV
Seasonally adjusted at annual rates
Government purchases of goods and services
1980
514.0
528.4 520.9
236.2 247.1 246.9
230.6 241.0 240.7
252.0
245.2
5.4
.2
5.9
.2
6.0
.2
6.7
.2
540.8
573.1
Receipts
6.9
.2
6.8
.2
Personal tax and nontax receipts
Income taxes
Nontaxes
Other...
259.4 272.9
252.3 265.9
351.2
384.0
355.4
365.6
372.1
373.9
386.8
403.3
70.6
38.8
24.5
7.4
80.7
44.9
27.9
7.9
72.3
40.0
24.9
7.4
74.7
41.3
25.9
7.5
76.2
41.8
26.7
7.7
78.3
43.0
27.5
7.8
82.1
45.8
28.3
8.0
86.3
49.1
29.0
8.2
12.2
13.1
12.9
13.7
10.6
11.7
12.6
171.6
82.9
67.5
21.2
160.6
77.8
64.8
18.1
163.9
79.4
65.4
19.1
167.0
80.8
66.3
19.9
167.7
79.7
67.2
20.8
173.0
83.4
67.9
21.7
179.0
87.5
68.9
22.6
Corporate profits tax accruals..
74.6
70.1
75.3
74.3
80.5
60.9
66.7
72.5
Corporate profits tax accruals.
Indirect business tax and nontax accruals
Excise taxes
Customs duties
.
Nontaxes
29.4
18.6
7.5
3.4
40.6
29.1
7.2
4.4
29.3
18.5
7.3
3.5
29.6
18.6
7.4
3.6
31.9
20.9
7.2
3.8
38.7
27 9
6.8
4.0
42.9
31.4
7.3
4.2
49.1
36.1
7.3
5.6
Indirect business tax and nontax accruals
159.0
Sales taxes.
76.9
Property taxes
64.4
Other
. _ 17.7
Contributions for social insurance
159.0
172.2
159.9
163.0
169.2
169.3
171.8
178.6
Contributions for social insurance
28.1
31.5
28.6
29.2
29.6
30.2
32.3
33.7
509.2
602.0
515.8
538.6
564.7
587.3 615.0
641.1
Federal grants-in-aid
80.4
88.0
80.8
84.9
85.5
87.2
87.7
91.8
167.9
111.2
56.7
366.3
165.1
112.0
53.1
178.1
118.7
59.4
190,0
125.0
64.9
198.7
128.7
70.0
212.0
141.6
70.4
350.0 358.2
198.9
131.7
67.2
326.8 331.3 338.6
346.6
209.1
249.8 216.6 221.7 228.9 236.0 265.3 269.0
244.9 212.8 216.8 224.4 232.2 260.4 262.6
Expenditures
Purchases of goods and services...
National defense ..
Nondefense
Transfer payments
To persons
To foreigners
Grants-in-aid to State and
local governments
Net interest paid
Interest paid .
To persons and business...
To foreigners
Less: Interest received by
government...
Subsidies less current surplus
of government enterprisesSubsidies.. ..
Less: Current surplus of
government enterprises
Less: Wage accruals less disbursements
.
204.9
4.2
4.9
3.8
4.9
4.5
3.8
194.9
131.4
63.5
4.9
6.4
80.4
88.0
80.8
84.9
85.5
87.2
87.7
91.8
42.3
53.6
42.6
11.1
53.3
67.5
55.0
12.5
42.9
54.7
43.7
11.0
44.4
56.8
45.5
11.3
50.3
63.1
50.9
12.2
54.4
68.0
56.3
11.7
53.5
68.2
56.3
11.9
55.2
70.8
56.7
14.1
11.3
14.2
11.7
12.4
12.8
13.6
14.8
15.6
9.4
9.3
12.0
10.7
10.5
9.0
9.5
9.8
10.1
10.0
11.0
10.3
13.7
10.7
13.1
11.6
-.1
-1.3
-1.5
.3
-.1
-.6
-3.1
-1.4
0
0
0
0
0
0
0
0
Surplus or deficit (— ),
national income and
product accounts
-14.8 -61.2 -15.2 -24.5 -36.3 -66.5 -74.2 -68.0
Social insurance funds
3.2 -14.2 -2.1 -2.1
.4 -7.8 -27.1 -22.2
Other
-18.1 -47.1 -13.1 -22.4 -36.7 -58.6 -47.1 -45.9
http://fraser.stlouisfed.org/
r
Revised.Bank of St. Louis
Federal Reserve
13.0
324.4
355.0 328.9
336.7 345.4
Purchases of goods and
services
305.9
Compensation of employees- 172.3
Other
133.6
335.8 310.4
Expenditures
Transfer payments to persons.
35.0
187.4
148.4
174.5
135.9
318.3
177.3
141.0
38.9
35.4
36.4
Net interest paid
_ _ -8.8 -10.8
17.6
Interest paid
16.3
Less: Interest received by
28.4
government
25.1
Less: Dividends received by
government
1.5
Subsidies less current surplus
of government enterprises. -6.3
Subsidies.
.3
Less: Current surplus of
government enterprises
6.7
Less: Wage accruals less disbursements
Surplus or deficit (-),
national income and
product accounts. _
Social insurance funds
Other. .
-.1
-9.0
16.5
181.6
145.2
185.4
145.9
189.3
149.3
37.2
38.1
39.7
193.3
153.3
40.5
-9.7 -10.2 -10.6 -11.1 -11.4
18.0
17.2
17.4
16.9
17.7
25.5
26.6
27.4
28.0
28.8
29.5
1.6
1.5
1.5
1.6
1.6
1.6
1.6
-7.4
.4
-6.5
.3
-6.7
.3
-7.0
.3
-7.2
.3
»7.5
.4
-7.7
.4
7.7
6.8
7.0
7.3
7.6
7.8
8.1
I
.2
2
0
0
0
0
26.7
29.1
26.5
28.9
26.6
23.9
28.6
37.1
23.9
2.9
26.9
2.1
24.5
2.1
25.0
4.0
25.3
1.3
25.7
-1.7
27.7
.9
29.0
8.1
SURVEY OF CURRENT BUSINESS
12
1980
1979
1979
1980'
III
March 1981
IV
I
II
1980
1979
III
IV r
1979
1980'
III
IV
Seasonally adjusted at annual rates
I
II
III
IV'
Seasonally adjusted at annual rates
Billions of dollars
Billions of 1972 dollars
Table 4.1-4.2.—Foreign Transactions in the National Income and Product Accounts in Current and Constant Dollars
Receipts from foreigners
_ __ _
Exports of goods and services
Merchandise _
Durable goods
Nondurable goods
Services _ __ l
Factor income
Other
_ -
282.5
340.9
294.3
307.4
338.5
334.4
343.5
347.2
281.3
176.9
102.9
74.1
104.4
66.6
37.8
339.8
293.1
183.6
106.1
77.4
109.6
72.2
37.4
306.3
337.3
333.3
342.4
222.9
346.1
221.0
127.5
93.6
125.0
80.7
44.3
218.2
127.7
90.5
121.6
79.5
42.1
193.9
109.4
84.6
112.4
74.5
37.9
214.8
127.0
87.8
122.5
83.0
39.5
213.9
126.3
87.6
119.4
78.1
41.3
129.9
93.0
119.5
76.3
43.2
1.1
1.1
1.1
11
1.1
1.1
1.1
1.1
Payments to foreigners
282.5
340.9
294.3
307.4
338.5
334.4
343.5
347.2
Imports of goods and services .
Merchandise —
Durable goods
Nondurable goods
Services
_
_
Factor income '
Other
267.9
208.9
245.9
316.5
275. 2
214.5
99.9
114.6
60.8
24.1
36.6
298.7
329.1
257.5
316.2
233. 0
103.7
129.3
65.7
27 9
37.8
297.9
115.7
141.8
71.6
31.5
40.0
107.9
137.8
70.5
29.9
40.6
231.5
108.7
122.8
66.4
25.9
40.6
322.7
248.8
5.2
1.0
4.2
6.0
1.2
4.9
4.7
.9
6.2
1.3
5.5
1.0
4.5
4.8
1.0
3.8
5.9
1.0
4.9
8.0
1.6
6.4
11 1
12.5
11 0
11 3
12 2
11.7
11 9
14.1
—1.7
5.9
3.4
—8.7
—8.3
1.7
27.8
2.3
Capital grants received by the United States (net)
99.0
109.9
59.0
22.8
36.2
Transfer payments (net)
From persons (net)
From government (net)
Interest paid by government to foreigners
Net foreign investment
112.1
133.8
70.6
29.9
40.7
38
49
245.6
116.0
132.9
73.9
32.2
41.7
146.9
82.8
50.5
32.3
64.1
41.3
22.8
161.1
92.2
55.6
36.6
68.9
45.4
23.5
151.3
84.5
51.3
33.2
66.8
44.5
22.3
154.8
87.6
52.3
35.3
67.2
45.0
22.3
165.9
94.1
58.1
36.0
71.8
49.0
22.8
160.5
92.1
55.9
36.2
68.4
45.1
23.3
160.5
93.5
55.7
37.8
67.0
43.1
23.9
157 4
89.0
52.5
36.4
68.4
44.4
24.1
109.2
76.9
47.2
29.7
32.3
14.1
18.1
109.1
74.0
47.6
26.4
35.1
17.0
18.1
110.2
77.3
48.1
29.2
32.9
14.9
18.0
112.6
78.0
48.0
30.0
34.7
16.8
17.8
115.8
78.8
50.3
28.5
37.0
18.6
18.4
108.9
73.4
46.8
26.6
35.5
17.3
18.2
102.8
70.5
45.8
24.6
32.4
14.6
17.8
108.9
73.4
47.5
25.8
35.5
17.7
17.8
Table 4.3-4.4.—Merchandise Exports and Imports by Type of Product and by End-Use Category in Current and Constant Dollars
176.9
218.2
183.6
193.9
214.8
213.9
222.9
221.0
82.8
92.2
84.5
87.6
94.1
92.1
93.5
Foods, feeds, and beverages
29.8
35.9
32.5
34.8
34.2
32.1
38.4
38.8
13.4
15.3
14.1
15.2
14.9
14.5
16.4
15.2
Industrial supplies and materials
Durable goodsNondurable goods __
52.6
17.9
34.6
67.1
24.3
42.8
53.7
18.2
35.5
60.3
20.9
39.4
66.5
2.1). o
41.0
70.7
26.4
44.3
65.9
23.3
42.7
65.2
22.2
43.0
20.9
7.1
13.8
23.7
8.6
15.1
21.2
7.2
14.1
22.4
7.8
14.6
23.3
9.0
14.4
25.0
9.3
15.7
23.5
8.3
15.2
23.0
7.8
15.2
Merchandise exports
__ _
89.0
Capital goods, except autos
58.2
73.5
61.4
60.6
68.0
73.0
77.6
75.5
30.8
34.7
31.7
31.8
34.7
35.2
35.6
33.1
Autos
17 4
16 9
17.4
17 7
17 2
15.6
16.5
18.1
8.1
6.8
8.0
7.9
7.4
6.4
6.5
6.8
Consumer goods
Durable goods
Nondurable goods
12.6
62
6.5
16.5
88
77
12.8
63
6.5
13.7
68
6.9
18.8
11 1
7.6
15.1
7.7
7.4
16.0
8.3
7.7
16.1
80
8.1
6.7
3.0
3.7
8.3
3.8
4.5
6.8
3.1
3.7
7.1
3.2
3.9
9.3
4.9
4.5
7.8
3.4
4.5
7.9
3.6
4.4
7.9
3.4
4.fi
Other
Durable goods..
Nondurable goods
63
3.2
3.2
83
4.2
4.2
57
2.9
2.9
69
34
3.4
10 1
5.1
5.1
7.5
3.7
3.7
84
4.2
4.2
7.3
3.7
3.7
3.0
1.5
1.5
3.5
1.8
1.8
2.6
1.3
1.3
3.1
1.6
1.6
4.4
2.2
2.2
3.2
1.6
1.6
3.5
1.8
1.8
3.0
1.5
1.5
208.9
245.9
214.5
233.0
257.5
245.6
231.5
248.8
76.9
74.0
77.3
78.0
78.8
73.4
70.5
73.4
Foods, feeds, and beverages
17.4
18.2
17.5
19.0
17.8
17.5
18.2
19.5
7.6
6.7
7.6
7.7
6.8
6.5
6.6
7.0
Industrial supplies and materials, excluding
petroleum
_ __
Durable goods
Nondurable goods
47.4
28.7
18.6
52.1
31 2
20.9
47.9
29 0
18.9
50 6
30 1
20.5
57.1
35 3
21.7
52.1
30 6
21.5
47.5
27 6
19.9
51.6
31.2
20.4
19.4
11.7
7.6
17.3
10.2
7.1
19.4
11.7
7.7
18.9
11.2
7.7
19.2
11.6
7.6
17.4
10.1
7.3
15.6
8.9
6.7
16.9
10.0
6.9
Petroleum and products
60.0
79.1
64.4
75.4
86.4
84.0
69.1
76.8
8.5
6.9
8.2
8.4
8.2
7.2
5.8
6.2
14.2
14.4
14.8
Merchandise imports
_
__
__
Capital goods, except autos
24 6
30 1
25 2
26 4
29 7
29 5
30 0
31 2
13.8
14.7
14.4
14.5
15.2
Autos
25 6
27 1
25 6
25 7
26 3
25 0
28 1
28 9
11.0
10.9
11.3
11.0
11.0
10.7
11.2
10.8
34 2
21.4
12.8
34 1
21.0
13.1
34 3
20.8
13.5
34 8
21.7
13.1
15.0
9.9
5.1
15.5
10.9
4.7
15.3
10.1
5.2
15.7
10.4
5.3
15.8
11.2
4.6
15.9
11.1
4.8
15.2
10.5
4.7
15.2
10.7
4.5
Consumer goods
Durable goodsNondurable goods
Other
Durable goods
Nondurable goods
Addenda:
Exports of agricultural products _
Exports of nonagricultural products
Imports of nonpetroleum products
_.
30 6
18.4
12.2
34 4
21.2
13.1
31 2
18.8
12.5
32 0
19.6
12.4
3.5
1.8
1.8
4.9
2.5
25
2.6
1.3
13
40
2.0
20
6.1
3.0
30
3.5
1.7
1.7
4.2
2.1
2.1
6.0
3.0
3.0
1.6
.8
.8
2.0
1.0
1.0
1.2
.6
.b
1.7
.9
.9
2.5
1.3
1.3
1.4
.7
.7
1.7
.8
.8
2.4
1.2
1.2
35.4
141.5
148.9
42.3
175.9
166.8
37.5
146.1
150.1
41.7
152.2
157.6
41.5
173.3
171.1
38.9
174.9
161.7
43.8
179.1
162.4
44.8
176.2
172.0
15.9
66.9
68.4
18.0
74.1
67.1
16.3
68.2
69.2
18.2
69.3
69.5
18.1
76.0
70.6
17.6
74.5
66.1
18.7
74.8
64.7
17.7
71.3
67.1
«• Revised.
Table 4.1-4.8:
1. Equals rest-of-the-world production as shown in tables 1.5 and 1.6.
SURVEY OF CURRENT BUSINESS
March 1981
13
Table 5.1.—Gross Saving and Investment
1980
1979
1979
IV
III
1980'
I
II
1979
III
IV
1979
Seasonally adjusted at annual rates
402.0
406.5
436 2
97.6
Corporate capital consumption
allowances with
CCAdj
_
Noncorporate capital consumption allowances with
CCAdj
Wage accruals less disbursements
401.8
422.3
402.0
404.5
394.5
40.2
106.4
-48.4
-17.8
155.4
175.4
158.7
161.5
167.1
173.0
178.4
183.2
98.2
111.8
100.8
103.6
107.4
110.7
113.4
115.8
0
0
0
0
.5
-.5
Government surplus or deficit
(— ), national income and
product accounts .
11.9 -32.2
4.4 -9.6 -42.5 -45.6
11.3
Federal
-14.8 -61.2 -15.2 -24.5 -36.3 -66.5 -74.2
State and local
29.1
26.7
26.5
26.6
28.9
23.9
28.6
Capital grants received by the
United States (net)
0
IVr
-30.9
-68.0
37.1
1.1
1.1
1.1
1.1
1.1
1.1
1.1
1.1
414.1
401.2
425.1
401.3
407.3
392.5
405.0
400.1
Gross private domestic investment
415.8
Net foreign investment
_._ -1.7
395.3
5.9
421.7
3.4
410.0
-8.7
415.6
-8.3
390.9
1.7
377.1
27.8
397.7
2.3
-.6
2.8
-.7
2.8
-1.9
3.0
-6.4
Gross investment
Statistical discrepancy
0
III
Billions of dollars
Gross private saving
398.9 432.9 409.8 396.4 413.0 435.9 446.5
86.4 110.0 111.4
80.7
Personal saving
89.3
86.2 101.3
Undistributed
corporate
profits with IVA and
42.1
52.1
42.8
CCAdj
44.3
50.6
60.9
59.1
90.7 102.4
Undistributed profits
_ 117.6 107.1 123.5 116.6 128.9
IVA
_ ..
-42.6 -45.7 -46.5 -50.8 -61.4 -31.1 -41.7
CCAdj
-15.9 -17.2 -16.1 -15.1 -15.4 -17.6 -17.9
411.9
II
Seasonally adjusted at annual rates
Billions of dollars
Gross saving
I
IV
III
1980'
1980
2.2
Table 5.8-5.9.—Change in Business Inventories by Industry in Current and Constant Dollars
1980
1979
1979
1980'
III
IV
I
II
1979
III
IV
19T9
1980'
III
IV
Seasonally adjusted at annual rates
Change in business inventories
M anuf acturing
Durable goods
Nondurable goods
Wholesale trade
Durable goods
Nondurable goods
Merchant wholesalers
Durable goods
Nondurable goods
Nonmerchant wholesalers
Durable goods
Nondurable goods
Retail trade
Durable goods
Nondurable goods
Other
Durable goods .
Nondurable goods
_
l
_
__
__ _ __
„ _ _ _ __
___
_
___
I
II
III
IV'
Seasonally adjusted at annual rates
Billions of dollars
Farm
Nonfarm
Change in book value
Inventory valuation adjustment
1980
Billions of 1972 dollars
17.5
-5.9
13.3
-0.8
2.5
7.4
-16.0
-17.4
10.2
-2.9
7.6
-0.7
-0.9
1.3
-5.0
-7.2
4.1
-1.2
5.5
3.6
1.0
64.1
-56.2
57.0
-61.4
75.1
-73.5
-3.4
-14.0
42.4
-56.4
-2.4
-.5
3.1
4.5
2.0
-2.7
.5
-1.4
.7
.6
-1.8
-3.1
-1.5
-5.6
49.3
-54.0
-3.7
-12.3
36.5
-48.8
2. 4
7^8
64.6
-51.2
1.3
6.1
43.4
-37.3
-2.1
— 5
-1.6
1.0
.8
.2
1.5
1.1
.4
-.5
-.3
-.2
-4.4
-4.4
0
.8
.1
.8
9.4
6.7
2.7
2.5
3.0
-.5
2.6
2.6
.1
-.1
.4
-.6
-2.2
-3.7
1.5
-1.8
.8
-2.7
6.4
10.6
-4.2
-1.2
-2.7
1.5
-3.9
-3.1
— 8
2.7
.4
2.3
-9.8
-9.1
-.8
.2
.7
-.5
13.3
3.4
9.8
-.4
-3.9
3.5
-4.9
-3.7
-1.2
4.5
-.2
4.7
-15.3
-11.7
-3.6
4.0
.4
3.6
.4
.4
.1
5.6
5.9
-.3
6.4
6.0
.4
-.8
0
-.7
-.5
-3.2
2.7
.6
.2
.4
-12.6
-4.4
-8.2
-1.9
-.8
-1.0
3.7
-.4
4.1
-5.6
-.5
-5.1
2.9
-3.0
5.9
-.8
-.2
-.6
-9.7
-1.6
-8.1
.6
2.0
-1.4
.7
2.5
-1.8
-.1
-.5
.4
-4.5
.5
-4.9
-.4
-.2
-.2
6.8
6.3
.6
1.0
.5
.5
.4
0
.4
.6
.5
0
-.1
-.2
.1
.1
.2
-.1
-1.0
-.1
-.9
.5
.5
0
.6
.6
.1
-.2
-.1
0
-2.2
-2.2
.1
.3
0
.2
4.5
3.6
.9
1.7
1.9
-.2
1.5
1.6
0
.2
.4
-.2
-1.1
-2.2
1.1
-.5
.4
-.9
3.6
5.7
-2.1
-1.1
-1.1
0
-1.8
-1.5
-.3
.7
.4
.3
-5.3
-5.2
0
0
.4
-.4
5.4
2.1
3.3
-.5
-1.0
.5
-1.3
-.9
-.4
.8
-.1
.9
-7.5
-5.9
-1.6
1.1
.2
.9
-.6
-1.7
1.1
.2
.1
.1
-5.2
-1.8
-3.4
.9
-.2
1.1
1.9
0
2.0
-1.1
-.2
-.9
1.3
-1.7
3.0
-.1
-.1
0
-3.6
-.7
-2.8
0
.7
-.8
.3
1.0
-.7
-.3
-.3
-.1
-1.9
.4
-2.3
-.2
-.1
-.1
12.3
11 3
.9
1.4
.4
1.1
.4
-.3
.7
1.0
.6
.4
-.6
-.5
-.1
.3
.3
-.1
0*
-.5
1.5
2.3
— 8
i!e
2.3
-.7
-.1
0
-.1
Table 5.10-5.11.—Inventories and Final Sales of Business in Current and Constant Dollars
Inventories ]
Farm
Nonfarm
Durable goods
Nondurable goods
Manufacturing
__
Durable goods
Nondurable goods
Wholesale trade
Durable goods
Nondurable goods
Merchant wholesalers
Durable goods. _
Nondurable goods
Nonmerchant wholesalers
Durable goods. ._
Nondurable goods
Retail trade
Durable goods
Nondurable goods.
Other
_ _ _
_ _
_
_____
_ _
Final sales 2.
__
_ _
_
_
Business final sales 3 Business final sales of goods and structures
.
Ratio* Business inventories to business final sales
Nonfarm business inventories to business
final sales *
Nonfarm business inventories to business
final sales of goods and structures
' Revised.
Digitized for
SeeFRASER
footnotes on page 16.
681.9
710.1
724 5
740.4
765.8
785 4
343.7
343.5
343.3
343.6
342.3
340.6
83.4
598. 5
348.1
250.4
84.3
625.9
363. 6
262.3
77.8
646.6
369.5
277.1
81.8
658.5
374.6
283.9
92.6
673.2
379.9
293.4
92.6
692 8
393.7
299.1
43.0
300.7
181.9
118.8
43.5
300.0
181.8
118.2
43.6
299.6
180.6
119.0
43.8
299.8
180.8
118.9
43.4
299.0
179.9
119.1
43.0
297.6
179.9
117.6
295.0
192. 1
102.8
129.4
80.8
48.5
103 4
66.6
36 8
26.0
14.2
11.7
119.7
58.9
60.8
54.5
311.2
203 7
107.5
134.6
83.6
51.0
106 3
68.6
37 7
28.3
15.1
13 3
122.6
59.7
62.9
57.5
325.0
210 0
115.0
138.5
84.4
54.1
108 2
69.7
38 5
30.3
14.7
15.6
122 8
58.3
64.5
60.3
331.2
212.6
118.6
142.0
87.0
55.0
111 6
72.2
39 4
30.4
14.8
15.6
124.0
57.9
66.2
61.3
335.3
215.5
119.8
146. 3
89.0
57.3
116.7
74.0
42.7
29.6
15.0
14.6
127.3
58.1
69.3
64.3
344.2
222.5
121.8
151.7
92.6
59.1
120.7
77.2
43.5
31.0
15.4
15.6
130.3
60.8
69.5
66.5
145.0
97.5
47.5
64.5
42.5
22.0
53.2
35.3
17.9
11.3
145.9
99.0
47.0
64.2
42.2
22.0
52 8
34.9
17.8
11.4
147.3
99.5
47.8
64.1
42.0
22.1
52.5
34.7
17.7
11.6
145.9
99.0
46.8
64.7
42.5
22.2
53.3
35.3
18.1
11.3
145. 0
98.9
46.1
64.7
42.7
22.0
53.4
35.5
17.9
11.2
7.3
4.2
7.2
4.4
147.2
99.5
47.7
64.5
42.5
21.9
52.9
35.3
17.6
11.6
68.1
33.9
34.2
23.1
66.8
32.6
34.2
23.1
64.9
31.1
33.8
23.4
64.7
30.7
34.1
23.4
65.1
30.2
34.8
23.4
64.6
30.3
34.2
23.4
202.6
208.1
214.1
213.1
221.1
229.0
123.4
124.3
125.2
121.8
123.1
124.4
171.4
109.9
176.2
112.9
181.2
115.9
179.9
112.6
187.2
117.0
194.1
121.9
104.4
66.5
105.4
67.2
106.1
67.7
102.8
64.3
103.9
64.7
105.4
65.9
3 98
4 03
4 00
4 12
4 09
4 05
3.29
3.26
3.24
3.34
3.29
3.23
3.49
3.55
3.57
3.66
3.60
3.57
2.88
2.85
2.82
2.92
2.88
2.82
5.45
5.55
5.58
5.85
5.75
5.68
4.52
4.46
4.43
4.66
4.62
4.51
7.2
4.1
7.2
4.4
7.2
4.1
7.1
4.1
SUEVEY OF CUEEENT BUSINESS
14
Table 6.4.—National Income Without Capital Consumption
Adjustment by Industry
March 1981
Table 6.20.—Corporate Profits by Industry
1979
1979
1980 r
1979
1979
1980 '
III
1980
1980
I
IV
II
III
III
IV
II
I
III
IV r
IV'
Seasonally adjusted at annual rates
Seasonally adjusted at annual rates
Billions of dollars
Billions of dollars
National income without CCAdj..
2,014.3 2,180.4 2,038.8 2,084.6 2,143.6 2,129.4 2, 183. 1 2,265.4
Domestic industries
1,970.5 2, 130. 7 1,990.7 2,037.9 2,092.1 2,081.3 2,132.6 2,216.8
Private industries
1,692.7 1,829.0 1,711.4 1,750.9 1,799.6 1,783.7 1,830.1 1,902.8
Agriculture, forestry, and
fisheries
Mining.
Construction
64.7
30.1
102.6
62.8
37.0
108.4
64.8
31.6
104.8
65.4
32.6
107.9
63.5
34.4
110.2
62.4
36.4
105.3
62.1
36.0
106.6
63.4
41.1
111.6
Manufacturing
Durable goods . .
Nondurable goods
514.5
315.4
199.1
527.0
513.4
312.9
516.7
311.0
538.9
504.3
293.7
517.6
547.1
Transportation and public
utilities ~
Transportation
Communication
Electric, gas, and sanitary services
158.3
76.3
43.5
174.4
80.0
50.1
Wholesale tradeRetail trade
Finance, insurance, and
real estateServices
Government and government enterprises
Rest of the world
311.4
215.6
200.4
160.1
77.4
44.8
205.8
317.5
221.4
163.4
79.5
45.9
167.1
79.4
47.3
210.6
Rest of the world .
-
Corporate profits with
IVA
Domestic industries
196.8
182.6
199.5
189.4
200.2
169.3
177.9
183.0
166.5
29.8
136.7
151.5
27.9
123.5
164.4
29.6
134.8
157.7
30.4
127.3
163.6
31.0
132.6
140.0
27.4
112.5
147.0
25.8
121.2
155.3
27.6
127.8
30.3
31.1
35.1
31.7
36.6
29.3
30.9
27.7
212.7
199.8
215.6
204.5
215.6
186.9
195.9
200.8
182.4
168.6
180.5
172.9
179.0
157.5
165.0
173.1
211.9
218.4
Financial
Federal Reserve Banks —
Other
31.6
9.6
22.0
30.7
11.9
18.7
31.5
9.7
21.7
32.6
10.5
22.1
33.3
11.9
21.4
30.1
12.7
17.4
28.7
11.3
17.4
30.6
12.0
18.6
179.3
79.9
50.9
181.4
82.5
54.0
Nonfinancial
Manufacturing
Durable goods
Primary metal industries
F a b r i c a t e d metal
products
M a c h i n e r y , except
electrical
Electric and electronic
equipment
Motor vehicles and
equipment
Other
Nondurable goods
Food and kindred
products
Chemicals and allied
products
Petroleum and coal
products
Other
150.8
88.9
39.5
138.0
149.0
84.4
34.8
140.3
80.2
29.3
145.7
92.1
28.1
127.5
61.3
10.1
136.2
68.5
19.4
142.5
4.2
4.5
2.8
5.9
2.0
.7
5.0
4.6
4.8
5.2
1.7
3.9
8.8
9.2
8.0
7.3
5.7
6.2
6.3
5.8
5.7
6.6
3.8
5.5
4.3
10.8
49.4
-.3
11.1
49.6
-.8
8.8
50.9
-2.9
6.0
64.0
-8.8
5.6
51.2
-4.8
8.0
49.1
6.9
6.7
6.7
8.2
6.7
5.7
8.2
7.8
6.6
8.8
6.0
7.0
18.3
16.0
17.7
17.4
23.7
13.8
31.0
16.0
25.3
13.2
22.2
14.2
18.0
23.0
20.8
17.1
25.6
22.0
14.9
22.6
22.6
16.1
14.8
22.7
16.6
25.9
23.7
22.5
20.4
24.8
35.1
31.7
36.6
29.3
30.9
170.0
78.2
48.1
38.4
44.4
37.9
38.0
40.5
43. 6
48.5
44.9
133.7
180.1
124.5
171.7
128.0
172.7
129.8
171.8
134.5
177.8
131.4
183.6
139.0
187.2
256.3
275.3
290.8
260.7
279.9
271.1
280.7
303.2
284.1
294.3
304. 2
293.0
Domestic industries
Financial
Nonfinancial
328.7
305.7
121.9
168.9
314.8
Corporate profits with
IVA and CCAdj
308.9
319.1
327.9
277.8
301.7
279.3
287.1
292.5
297.6
302.5
314.0
43.8
49.7
48.1
46.6
51.5
48.1
50.5
48.6
' Revised.
Table 7 1-7.%:
1. Gross domestic purchases equals gross national product less exports plus imports; final
sales to domestic purchasers equals final sales less exports plus imports.
Transportation and public
utilities
Wholesale and retail trade
Other
NOTE.—Percent changes from preceding period for selected items in tables 7.1-7.2 are shown
in table 8.1. Fixed-weighted price indexes are subject to further revision.
Rest of the world
31.1
30.3
27.7
Table 7.1-7.2.—Implicit Price Deflators and Fixed-Weighted Price Indexes, 1972 Weights, for Gross National Product
1979
1980'
III
I
IV
II
1980
1979
1980
1979
III
IV r
1979
1980 r
III
I
IV
II
III
IV '
Seasonally adjusted
Seasonally adjusted
Fixed-weighted price indexes, 1972=100
Implicit price deflators, 1972=100
Gross national product.
162.77
177.36
164.23
167.47
171.23
175.28
179.18
183.81
166.3
182.0
167.9
171.9
175.9
179.8
183.8
188.3
Personal consumption expenditures
Durable goods
_ _
Nondurable goods
Services
-
162.3
144.8
169.8
162.1
178.9
156.0
188.6
178.1
163.8
145.4
172.1
163.3
168.0
148.0
176.9
167.4
172.9
151.9
182.9
1V1. 6
177.0
154.1
186.2
176.0
180.7
157.5
190.0
180.3
184.9
160.5
195.2
184.3
164.8
146.9
173.1
163.3
182.7
159.0
194.4
180.0
166.6
147.8
175.7
164.6
171.1
150.3
181.3
168.8
176.4
154.2
187.9
173.2
180.5
157. 4
191.8
177.9
184.7
161.0
196.2
182.2
189.3
164.0
201.9
186.3
179.1
171.3
198.6
159.7
194.2
186.8
181.5
173.4
201.4
161.5
184.9
176.8
188.5
180.5
214.3
165.6
212.6
215.2
213.6
145.5
185.6
176.7
194.9
166.2
203.8
187.9
178.8
197.6
168.0
205.1
191.7
183.0
203.3
196.7
188.0
210.3
175.2
213.2
202.4
207.1
198.6
221.0
185. 8
223.1
209.7
202.0
207.4
199.9
192.4
224.7
199.5
203.4
265.3
210.0
213.1
218 9
305.8
226.4
296.9
185.9
186.0
189.7
189.4
194.8
197.3
Gross private domestic investment
Fixed investment
_
Nonresidential
Structures
Producers' durable equipment
Residential
Nonfarm structures
Farm structures
Producers' durable equipment
Change in business inventories
_
-.
Net exports of goods and services
Exports
Imports
_Government purchases of goods and services
Federal
_
National defense
Nondefense
State and local
Addenda:
Gross domestic purchases i
Final sales
_ Final sales to domestic purchasers i
Personal consumption expenditures food
Personal consumption expenditures, energy _ _.
Other personal consumption expenditures
Gross domestic product
Business
. ___
Nonfarm
200.5
202.7
202.0
140.3
191.5
245.4
168.1
165.1
165.7
163.8
169.8
170.2
218.6
221.7
219.9
149.4
211.0
290.1
184.4
183.9
185.6
180.6
184.7
163.2
204.6
207.0
205.5
207.7
140.5
142.4
193.7
249.8
169.2
165.2
166.8
161.9
171.3
210.1
207.7
197.9
265.2
174.0
172. 8
173.8
170.8
174.7
203.4
284.2
178.1
176.5
178.9
172.1
179.1
192.5
185.7
222.4
196.4
189.1
229.5
169.0
217.4
171.7
221.9
219.4
148.5
223.1
151.0
207.6
290.4
213.4
220.7
181.6
179.5
181.4
176.2
182.8
225.2
289.7
185.1
182.4
185.2
176.7
186.7
233.3
174. 5
223.3
226.3
224.2
200.9
195.5
217.9
182.6
219.6
196.8
217.0
171.4
208.1
193.9
216.7
180.8
218.4
224.1
189.4
224.3
152.4
219.9
243.3
192.8
197.4
196.8
198.7
190.0
170.4
168.0
188.1
188.8
171.7
169.0
177.5
178.1
182.1
182.8
172.0
187.6
173.5
177.0
181.7
185.8
189.9
193.1
169.3
166.2
169.2
177.0
171.2
167.8
171.0
177.5
175.9
171.7
175.7
181.8
185.2
179.7
185.1
185.8
318.5
166.2
193.8
188.1
193.7
200.8
158.6
181.0
175.7
180.8
183.3
304.1
162.5
189.4
183.6
189.3
193.2
154.3
187.3
181.8
187.2
190.7
317.0
168.0
169.7
325.1
173.4
166.4
166.9
182.0
183.0
171.9
172.6
176 0
176.8
179.9
180.9
183.9
185.2
188.3
189.2
240.2
300.2
249.5
255.3
155.2
168.0
168.8
273.2
287.9
312.6
296.4
320.2
SUEVEY OF CUEEENT BUSINESS
March 1981
1979
1979
1980'
III
15
IV
I
II
1980
1979
1980
III
1979
IV'
1980'
III
IV
Table 7.3.—Implicit Price Deflators for Gross National Product by
Major Type of Product
Goods
162.7
177.4
164.2
167.4
171.0
174.9
179.18 183.81
179.7
184.1
156.6
169.9
158.1
160.2
163.8
168.1
171 8
176 3
Final sales
156 3
Change in business inventories- _
__ _
170,1
157 9
160 1
163 2
167 3
172 9
177 0
Durable goods
152.0
Final sales
__
151. 5
Change in business inventories
Nondurable goods
__ _ 160.2
Final sales
160 1
Change in business inventories
164.1
164.5
154 1
153.8
154 7
154.7
157 0
158.6
164 2
163 4
166 3
167 0
169 2
169 1
174.2
174.2
161.2
161 1
170 9
170 1
175 7
177 2
164 3
164 2
168.7
166 7
181.8
182 8
Services-
161.8
176.7
162.8
166 9
170.6
174 6
178 5
183.2
Structures
199.7
222.1
203 1
207.8
213 9
220 6
226 0
228 5
Addenda:
Gross domestic purchases l.. 166.1
Final sales1 to domestic purchasers
166 0
182.2
167.7
171.8
176.6
180.5
183.3
188.4
182.2
167 6
171 8
176 3
180 1
183 8
188 7
Table 7.4.—Implicit Price Deflators for Gross National Product by
Sector
Gross national product. . 62.77 177.36 164.23 167.47 171.23 175.28
Gross domestic product
179.18 183.81
162.8
177.4
164.3
167.5
171.3
175.3
179 2
183.8
162.6
161.5
163.1
147.8
200 8
162.6
173.2
180.3
172.6
161.3
154.7
164 4
177.4
177.0
179. 0
160.9
193 1
177.4
189.5
193. 8
189.1
173.5
166. 6
176.7
164.3
163.2
164.9
149.1
200 6
164.3
173.9
181.3
173.3
161 5
152.7
165 6
167 3
166.4
168.0
152.8
198 5
167.3
179.0
185.6
178. 4
165 9
161.6
168 0
171 2
170.8
172.6
155.6
183 0
171.2
183.2
188 8
182.7
168 7
162.4
171 7
175 4
175.3
177.3
158.8
178 6
175.4
187.7
191 8
187. 4
171 2
162 8
175 1
179 5
178 8
180.8
162.5
205 3
179.5
190.7
195 0
190.3
173 5
163.2
178 3
183 8
183 1
185.2
166.4
208 8
183.8
196.0
199.8
195.7
180 5
178 0
181 7
Rest of the world
161 0
175.4
162 4
165 7
169 4
173 2
177 2
182 0
Addendum:
Gross domestic business
product less housing
164. 3
179.4
166 0
168 9
172 9
177 4
181 5
185 9
Business. _ ... >_ _
Nonfarm
...
Nonfarm less housing
Housing
Farm
Statistical discrepancy
Households and institutionsPrivate households
__
Nonprofit institutions
Government
...
Federal
_
State and local
Table 7.7.—Current-Dollar Cost and Profit Per Unit of ConstantDollar Gross Domestic Product of Nonfinancial Corporate Business
Current-dollar cost and
profit per unit of constant-dollar gross
domestic product 1
1.623
Capital consumption allowances with CCAdj
.169
1.454
Net domestic product
Indirect business tax and
nontax liability plus business transfer payments
.153
less subsidies
1.301
Domestic income
Compensation of employ1.092
ees
Corporate profits with
IVAand CCAdj
.157
Profits tax liability
.080
Profits after tax with
.077
IV A and CCAdj
Net interest- .
__. .052
Gross national product. . 162.77 177.36 164.23 167.47 171.23 175.28
179.18 183.81
179.1
194.8
181.4
184.0
188.2
193.5
197.2
200.0
Equals: Net national product- 161.0
175.4
162.4
165.7
169.4
173.2
177.2
182.0
Less: Indirect business tax
and nontax liability
plus business transfer
payments less subsidies
plus current surplus of
government enterprises. 135.7
146.4
135.8
137.6
139.6
144.7
147.5
153.7
Statistical discrepancy. . 162.6
177.4
164.3
167.3
171.2
175.4
179.5
183.8
179.1
165.6
169.1
173.1
176.8
180.9
185.6
r
164.1
Revised.
Table 7.3:
1. Gross domestic purchases equals gross national product less exports plus imports; final
sales to domestic purchasers equals final sales less exports plus imports.
NOTE.—Percent changes from preceding period for selected items in tables 7.3 and 7.4 are
shown in table 8.1.
Table 7.7:
1. Equals the deflator for gross domestic product of nonfinancial corporate business with
the decimal point shifted two places to the left.
Table 7.8: <
1. Consists of final sales and change in business inventories of new autos produced in the
United States.
Consists of personal consumption expenditures, producers' durable equipment, and
Digitized for2. FRASER
government purchases.
1 770
1.638
1.669
1.710
1.754
1.787
1.830
.191
1.579
.172
1.466
.175
1.494
.180
1.530
.192
1.562
.196
1.591
.197
1.633
.176
1.403
.154
1.312
.157
1.337
.161
1.369
.173
1.389
.181
1.411
.188
1.444
1.196
1.104
1.135
1.158
1.193
1.203
1.230
.142
.073
.154
.081
.146
.078
.151
.085
.132
.061
.141
.070
.146
.075
.070
.065
.074
.053
.067
.056
.066
.060
.071
.064
.071
.067
.071
.068
Index numbers, 1972=100
Table 7.8.—Implicit Price Deflators for Auto Output
Auto output.
_
_ 145.5
155.9
147.3
149.1
151.3
155.0
156.8
160.5
146.4
155.8
147.3
148.9
152.7
153.8
156.8
160.2
158.3
149.4
169 4
161.2
159.2
151.6
160.9
152.4
163.8
156.4
166.8
160.4
171.0
164.5
176.5
164.6
133.2
149.4
146.5
161.3
138.1
152.1
136.1
152.2
141.2
156.2
150.8
160.2
154.9
164.3
140.5
164.4
150.0
195.6
164.7
211.4
152.0
199.4
152.8
199.5
156. 7
201.7
160.8
209.8
182.4
219.5
165.1
214.1
147.6
167.5
151.2
155.6
160.4
172.1
173.0
165.6
149.2
161.7
152.1
152.6
156.7
160.2
165.7
164.4
149.5
161.4
151.7
152.4
156.4
160.5
164.5
164.6
Final sales
Personal consumption expenditures
New autos
Net purchases of used
autos
Producers' durable equipment
New autos
Net purchases of used
autos
Net exports
Exports
Imports
Government purchases of
goods and services
Change in business inventories of new and used autos
Addenda:
Domestic output of new
autos *
Sales of
imported new
autos 2
Truck output 1
Equals: National income
IV r
Table 7.9.—Implicit Price Deflators for Truck Output
Table 7.5.—Implicit Price Deflators for the Relation of Gross
National Product, Net National Product, and National Income
Less: Capital consumption allowances with CCAdj
III
Dollars
Index numbers, 1972=100
Gross national product.. 162.77 177.36 164.23 167.47 171.23 175.28
II
Seasonally adjusted
Seasonally adjusted
Final sales
Change in business inventories
I
194.0
169.1
186.5
173.6
172.0
178.0
185.8
189.5
169.1
Final sales
Personal consumption expenditures
- - 149.4
Producers' durable equip177.2
ment
186.5
172.3
172.9
178.4
184.8
189.7
195.0
161.2
151.7
152.5
156.4
160.6
164.4
164.7
194.5
180.3
181.4
186.1
191.3
197.4
205.2
177.5
163.7
195.0
176.4
180.3
165.4
181.4
164.4
186.1
168.7
191.2
168.7
197.4
180.0
205.2
186.4
177.5
194.9
180.3
181.3
186.1
191.3
197.3
205.2
Exports
Imports
Government purchases of
goods and services
Change in business inven-
Table 7.11.—Implicit Price Deflators for Personal Consumption
Expenditures by Major Type of Product
Personal consumption
expenditures
Durable goods
Motor vehicles and parts
Furniture and household
equipment
Other
Nondurable goods
Food
. ...
Clothing and shoes
Gasoline and oil
Other nondurable goods
Fuel oil and coal
Other
Services
Housing
Household operation
Electricity and gas
Other
- Transportation
Other
162.3
178.9
163.8
168.0
172.9
177.0
180.7
184.9
160.5
173.2
146.5
167.3
195.2
200.3
136.5
343.7
193.4
484.5
175.8
184.3
171.3
188.2
250.9
150.2
192.4
193.1
144.8
154.6
156.0
167.1
145.4
155.7
148.0
158. 0
151.9
161.9
154.1
164.9
157.5
168.8
135.6
142.7
169.8
176.6
129.2
243.4
167.8
340.6
155. 9
162.1
151.9
165.5
205.2
140.5
161.2
170.4
143.6 135.8
161.7 143.7
188.6 172.1
190.5 177.2
134.3 129.5
339.4 263.0
187.5 170.7
471.4 371.4
170.1 156.6
178.1 163.3
165. 6 153.2
181.5 166.9
239.4 209.5
146. 3 141.0
184.3 162.7
187.0 171.3
138.0
148.1
176.9
181.5
130.8
285.1
174.8
406.6
160.0
167.4
157.3
170.8
216.6
142.5
168.5
175.2
140.4
154.7
182.9
183.1
132.9
330.6
180. 3
450.9
164.1
171.6
160.3
173.7
224.4
143.7
174.3
180.6
142.5
160.6
186.2
185.7
133.3
345.1
185.9
473.3
168.5
176.0
163.5
178.2
235.6
143.5
180.7
185.9
144.8
164.4
190.0
193.0
134. 5
338.6
190.6
476.6
172.1
180.3
167.3
185.6
245.6
147.9
189.7
188.4
SUEVEY OF CURRENT BUSINESS
16
1980 r
III
1979
1980
1979
1979
March 1981
IV
I
II
III
IV r
1979
1980 '
III
Seasonally adjusted
169.2
174.0
178.1
181.6
185.1
192.8
Federal
National defense
Durable goods
Nondurable goods
Services
Compensation of employees
_
Military
Civilian
Other services
Structures
165.1
165.7
162.0
292.4
160.3
183 9
185.6
179.1
441 5
174.6
165.2
166.8
166.3
306.0
159.6
172.8
173.8
166.6
344.6
167.5
176.5
178.9
172.6
425.0
169.0
179.5
181.4
176.2
420.7
170.8
182.4
185. 2
182.6
451.6
172.9
197.4
196.8
184.8
465.1
185.8
152.3
147.6
159.0
177.8
174.4
164.7
160.9
170.2
194.0
198.3
150.4
145.7
157.1
179.0
175.2
159.5
155.3
165.5
184.6
185.8
160.3
155.9
166.4
186.6
192.3
160.7
156.4
166.8
190 0
198.1
161.1
156.8
167.3
195.9
199.6
176. 9
174.5
180.3
203.0
203.1
Nondefense
Durable goods
Nondurable goods _
Services
Compensation of employees
.
Other services
Structures
163.8
93.0
180.6
167.5
161.9
135.5
170.8
172.1
160.6
176.2
165.4
176.7
168.6
198.7
175.2
162.4
176.9
162.0
168.8
171.5
173.7
176.6
185.9
159.1
166.9
186.0
170.0
185.4
207.7
157.1
168.5
189.1
165.5
173.2
194.1
166.3
178.1
200.1
166.7
182.5
206.0
167.2
187.7
211.0
180.2
192.8
214.2
State and local
Durable goods
. _.
Nondurable goods
Services
Compensation of employees,.
Other services
Structures
169.8
157.7
175.1
165.8
184.7
169.7
191.7
179.4
171.3
157.6
176.2
167.1
174.7
161.2
180.6
170.0
179.1
165.1
184.9
174.0
182.8
168.1
188.6
177.7
186.7
170.6
194.7
181.3
190.0
175.0
198.2
184.7
164.4
170.2
197.6
176.7
187.5
220.8
165.6
171.7
200.6
168.0
175.9
206.1
171.7
180.7
213.2
175.1
185.5
219.6
178. 3
190.2
224.7
181.7
193.5
226.3
Table 7.16.—-Implicit Price Deflators for Exports and Imports of
Goods and Services
Exports of goods and services.. 191.5
I
II
III
IV'
Index numbers, 1972=100
Table 7.14B.—Implicit Price Deflators for Government Purchases
of Goods and Services by Type
184.4
IV
Seasonally adjusted
Index numbers, 1972=100
Government purchases
of goods and services. _ 168.1
1980
211.0
193.7
197.9
203.4
207.6
213.4
219.9
Table 7.17.—Implicit Price Deflators for Merchandise Exports and
Imports by Type of Product and by End-Use Category
Merchandise exports
Foods, feeds, and beverages...
Industrial supplies and materials
Durable goods
Nondurable goods ._ _ -.Capital goods, except autos
Autos _
Consumer goods
Durable goods
Nondurable goods
__
Other.
Durable goods
Nondurable goods
Merchandise imports
Foods, feeds, and beverages
Industrial supplies and materials, excluding petroleum .
Durable goods
Nondurable goods . .
Petroleum and products
Capital goods except autos
Autos _
Consumer goods
_
Durable goods
Nondurable goods
Other
Durable goods
Nondurable goods
213.7
236.7
217.2
221.5
228.3
232.2
238.5
222.8
235.1
230.7
229.1
228.7
221.6
234.1
255.4
251 7
251.8
251.7
189.1
215 8
187.5
203.4
174.5
213 0
213.0
213 0
282.9
282.9
282.9
212.2
249.7
199.5
231.1
172.6
235.9
235.9
235.9
252 9
252 9
252.9
193.6
216 3
189.2
206.7
174.9
217 3
217.3
217 3
269 5
269 5
269.5
190.2
222 7
192.5
212.5
176.3
221 5
221.5
221 5
285 1
285 1
285 1
196.0
234 5
200 7
227.9
170.8
228 2
228.2
228 2
282 8
282 8
282.8
207.4
243 1
192 4
226.8
166.3
232 1
232.1
232 1
280 5
280 5
280 5
217.9
255 0
201.7
232.2
176.9
238.5
238.4
238 7
283 1
283.1
283.1
228.1
267.3
202.9
238.9
176.4
248.4
248.5
248.2
271.6
332.3
277.3
298.9
327.0
334.8
328.4
339.1
228.4
270.1
230.8
247.1
260.4
266.6
276.0
277.3
244.5 301.1 247.2
244 9 306.6 247.5
244.1 293.2 246.8
702.0 1,153.8 788.4
178.6 205.4 174.9
231.9 248.5 226.1
203.7 221.2 204.8
186.4 195.0 186.3
236.9 282.4 240 8
217.5 246.2 216.9
217.5 246.2 216.9
217.5 246.2 216 9
Addenda:
Exports of agricultural products _ _
222.4
Exports of nonagricultural
products
. 211.6
Imports of nonpetroleum
products
217.8
267.7 296.6 299.2
267 7 303 3 303 8
267.7 286.2 292.9
893.3 1,059.7 1,163.2
182.2 195.3 208.1
233.5 239.3 235.0
203.8 216.3 214.2
188.1 190.7 188.8
234 6 278.6 273.2
226.7 239.2 242.2
226.8 239.3 242.2
226 6 239 0 242 2
248.4
303. 8
305.9
309 3
311.0
296.5 298.3
1.191.6 1, 231. 0
210.4
208.1
267.4
252 3
226.2 228.5
198.1 202.8
289.0
289.1
254.2
249.1
253.9
249.3
254. 4
248.8
234.5
229.7
229.0
229.8
220.7
234.0
253.5
237.2
214.2
219.5
227.9
234.9
239.6
247.1
248.4
217.0
226.7
242.3
244.4
251. 1
256.2
Merchandise
Durable goods
Nondurable goods
213.7
203.8
229.1
236.7
229.7
247.2
217.2
206.8
233.3
221.5
209.2
239.6
228.3
218.5
244.0
232.2
225.9
241.8
238. 5
233.1
246.4
248.4
242.6
256.8
Services
Factor income
Other
162.8
161.3
165.6
176.5
175.3
179.0
164.0
162.4
167.2
167.2
165.7
170.2
170.7
169.4
173.6
174.6
173.2
177.1
178.4
177.2
180.6
182.8
182.0
184.2
198.4
206.7
211.0
215.5
223.7
230.6
284.2
290.4
289.7
296.4
Farm
194.0
193.7
178.4
186.8
213.6
215.4
Nonfarm
Durable goods
Nondurable goods
199.1
191.4
210.8
208.6
200.0
222.0
215 8
204.6
232.9
219 7
207.2
238.7
225. 2
211.2
246.3
232.8
218.8
254.3
M anuf acturing
Durable goods
Nondurable goods
203.4
197.0
216.6
213.3
205.9
228.9
220 6
211.1
240.6
225 1
213.7
248.9
229.9
217.6
255.9
237.5
225.1
264.1
Wholesale trade
Durable goods
Nondurable goods
200.6
190.3
220.5
209.7
198.2
231.8
216.1
201.2
244.4
220.3
204.7
250.6
226.2
209.5
258.1
234.7
217.2
268.5
Merchant wholesalers _
Durable goods
Nondurable goods
._ .
Nonmerchant wholesalers
Durable goods,
Nondurable goods
194.4
188.7
205.6
230.3
198.6
285.6
201.4
196.2
211.6
247.8
207.6
317.9
206.3
200.8
217.1
260.3
203.1
354.4
211.1
204.6
224.2
262.0
204.9
356.6
218.7
200.6
236.6
261.2
208.9
351.9
226.0
217.4
243.0
275.8
216.1
379.0
Retail trade
Durable goods . .
Nondurable goods
175.8
173.8
177.8
183.6
183.3
184.0
189.3
187.6
190.8
191.6
188.7
194.2
195. 7
192.0
199.0
201.8
200.4
203.0
Other
235.9
248.8
258.1
261.5
274.6
284.7
164.2
167.5
171.0
174.9
179.7
184.1
164.2
167.3
170.8
175.0
180.1
184.1
165.4
167.9
171.2
175.2
180.7
184.9
Imports of goods and service
M erchandise
Durable goods
...
Nondurable goods
Services.
Factor income
Other
r
290.1
249.8
265.2
271.6
209.8
369.9
332.3
235.4
507.2
277.3
207.5
392.4
298.9
216.1
431.6
327.0
230.0
498.4
334.8
230.8
517.6
328.4
237.0
498.6
339.1
243.9
514.2
.. 182.9
161.5
199.5
201.1
175.3
225.5
184.9
162.4
203.5
189.5
165.7
212.0
193.2
169.4
217.3
198.6
173.3
222.7
205.2
177.2
228. 3
208.1
182.0
234.0
245.4
Revised.
Table 5.8-5.9:
1. The inventory valuation adjustment (IVA) shown in this table differs from that which
adjusts business income. The IVA in this table reflects the mix of methods (first-in-first-out,
last-in-first-out, etc.) underlying book value inventories derived primarily from Census
Bureau statistics. The mix differs from that underlying business income derived from statistics
tabulated by the Internal Revenue Service and other sources.
Table 5.10-5.11:
1. Inventories are as of the end of the quarter. The quarter-to-quarter change in inventories
calculated from current-dollar inventories in this table is not the current-dollar change in
business inventories (CBI) component of GNP. The former is the difference between two
inventory stocks, each valued at their respective end-of-quarter prices. The latter is the change
in the physical volume of inventories valued at average prices of the quarter. In addition,
changes calculated from this table are at quarterly rates, whereas CBI is stated at annual rates.
Quarter-to-quarter changes calculated from the constant-dollar inventories shown in this
table are at quarterly rates, whereas the constant-dollar change in business inventories component of GNP is stated at annual rates.
2. Quarterly totals at monthly rates.
3. Business final sales equals final sales less gross product of households and institutions,
government, and rest-of-the-world.
4. Business final sales include a small amount of final sales by farms.
Table 7.21.—Implicit Price Deflators for Inventories and Final Sales
of Business
Inventories 1
_.
Final sales
Business final sales 2
Business final sales of goods
and structures
1. Inventories are as of the end of the quarter.
2. Business final sales equals final sales less gross product of households and institutions,
government, and rest of the world.
Table 8.1.—Percent Change From Preceding Period in Gross National Product in Current and Constant Dollars, Implicit Price
Deflator, and Price Indexes
1979
1979
1980
r
III
1980
I
IV
II
1979
IV'
III
1979
1980'
III
Seasonally adjusted
Percent
Gross national product:
Current dollars
1972 dollars
Implicit price deflator
Chain price index
Fixed-weighted price index..
Percent at annual rates
Percent
8.8
-.2
9.0
8.5
9.4
12.2
4.1
7.8
7.4
8.9
8.8
.6
8.1
8.5
9.7
12.6
3.1
9.3
8.3
9.8
-1.1
-9.9
9.8
8.5
9.1
11.8
2.4
9.2
9.4
9.2
14.9
3.8
10.7
10.4
10.0
Personal consumption
expenditures:
Current dollars
12.0
1972 dollars
_..
2.9
Implicit price deflator
8.9
Chain price index
_
9.1
Fixed-weighted price index. . 9.4
10.7
.5
10.2
10.5
10.9
14.6
4.7
9.4
9.9
10.4
14.7
3.6
10.7
10.9
11.3
12.9
.8
12.0
12.1
12.8
-1.0
-9.8
9.8
9.5
9.8
14 3
5.1
8.8
9.6
9.6
17.4
7.0
9.7
10.2
10.3
6.5
.2
6.3
6.6
-.2
-7.4
7.7
8.2
11.9
7.3
4.3
4.9
5.4
-1.8
7.3
7.3
9.2 -40.0
-1.6 -43.3
5.8
11.0
8.5
10.6
32.9
21.7
9.2
9.0
30.9
21.2
8.0
7.9
6.7
8.2
5.1
6.9
8.6
9.5
7.6
10.6
Nondurable goods :
Current dollar
1972 dollars
Implicit price deflator. _.
Chain price index
Fixed-weighted
price
index
13.7
2.6
10.8
11.2
12.2
1.1
11.0
11.9
18.3
5.6
12.0
12.7
19.4
6.8
11.8
12.8
14.4
.2
14.2
14.3
1.8
-5.3
7.5
8.2
6.3
-1.8
8.3
9.5
18.5
6.3
11.5
12.0
11.5
12.3
13.5
13.5
15.3
8.6
9.4
12.1
Services:
Current dollars
1972 dollars
Implicit price deflator. _ .
Chain price index
_.
Fixed-weighted
price
index
12.4
4.1
8,0
8.1
12.8
2.6
9.9
10.0
12.2
3.1
89
9.1
13.5
2.8
10.5
10.4
12.7
2.1
10.4
10.7
10.8
0
10.7
10.9
17.0
6.4
10.0
9.8
13.1
3.7
9.1
9.2
8.2
10.2
9.2
10.6
11.0
11.3
9.9
9.3
5.6 -21.8
-5.6 -28.9
-13.3
-10.0
23.7
11.1
Gross private domestic investment:
Current dollars
1972 dollars
Implicit price deflator
Chain price index
Fixed-weighted price index..
Fixed investment:
Current dollars
1972 dollars
Implicit price deflator. ..
Chain price index
Fixed-weighted price
index
Nonresident ial:
Current dollars ._ _.
1972 dollars
Implicit price deflator
Chain price index
Fixed-weighted index
Structures:
Current dollars
1972 dollars.
Implicit price deflator
Chain price index.
Fixed-weighted
price index
Producers' durable
equipment :
Current dollars
1972 dollars
Implicit price deflator... __ .. _
Chain price index.
Fixed-weighted
index
Residential:
Current dollars
1972 dollars
Implicit price deflator
Chain price index. ..
Fixed-weighted
price index
Exports:
Current dollars
1972 dollars
Implicit price deflator
Chain price deflator
Fixed-weighted price index.
10.8 -4.9
1.3 -12.5
-1.5 -10.6
-9.9 -17.8
12.8
3.1
9.4
10.2
.7
-7.1
8.5
10.0
20.0
8.6
10.5
11.1
2.5
-4.8
7.7
8.4
10.7
10.1
11.7
8.4
15.6
6.5
5.8
-3.0
25.0
13.4
2.3
-5.4
8.6
9.0
9.1
10.3
10.2
10.0
8.2
9.4
9.7
10.6
10.5
9.8
22.4
8.7
13.0
-.1
30.3
12.0
24.0
10.3
12.6
12.9
13.1
11.9
16.3
14.7
12.4
12.2
12.9
11.8
14.3
12.0
2.2 -25.8
-5.3 -31.8
8.9
7.9
12.3
10.5
10.5
2.1
8.3
9.7
24.2
15.7
7.4
5.3
12.0
9.7
6.2
11.0 -10.4
2.2 -19.9
6.0
-1.5
11.5
4.0
8.6
10.7
11.8
13.1
7.6
10.0
7.2
6.3
11.3
13.1
10.2
7.0
.7
12.4
-1.4 -13.1
-4.0
-15.3
16.5
9.0
14.0
14.8
15.9
12.6
13.3
8.3
6.9
6.4
14.5
12.6
8.1
5.8
10.8
10.2 -16.3
3.8 -22.7
12.3
5.3
8.7
1.9
6.2
8.4
8.3
13.4
6.
11.0
6.6
6.3
9.1
13.4
11.
7.9
2.8 -16.7 -56.4
-3.1 -24.2 -60.2
25.
16.
68.5
64.2
12.3
5.5
2.0
-4.2
6.4
7.1
6.5
9.5
7.3
7.7
4.1
8.0
7.6
9.8
8.1
8.3
6.6 -11.3
-5.2 -18.6
9.1
-3.6
22.3 -7.9
14.0 -11.6
12.5
12.6
9.0
9.3
13.2
13.6
6.1
6.1
9.8
10.1
9.5
10.2
8.
8.
2.6
2.1
12.6
9.3
13.6
6.2
10.1
10.2
8.
2.1
28.0
15.2
11.1
12.0
12.6
20.8
9.6
10.2
10.0
10.2
45.7
34.6
8.2
8.3
8.3
19.2
9.4
8.9
7.3
8.2
47.1 -4.7
32.0 -12.3
11.5
8.6
12.6
6.1
13.5
5.9
IV
I
II
III
IV'
Seasonally adjusted
12.0
3.2
8.5
8.6
9.2
Durable goods:
Current dollars. . _
1972 dollars
Implicit price deflators..
Chain price index
Fixed-weighted
price
index
1980
11. <
11!
11.
11.
4.4
-7.4
12.8
14.7
14.4
* Revised.
NOTE.—The implicit price deflator for GNP is a weighted average of the detailed price
http://fraser.stlouisfed.org/
indexes used in the deflation of GNP. In each period, the weights are based on the composition
Federal of
Reserve
Bank of
St. Louis
Constant-dollar
nntrmt
in that neriod. Tn other words, the nrir.e index for each item (1972=
Imports:
Current dollars
1972 dollars
Implicit price deflator
Chain price index
Fixed- weighted price index..
Percent at annual rates
21.6
6.0
14.7
17.1
16.1
18.1
-.1
18.2
25.4
23.4
28.3
5.0
22.2
32.4
27.5
38.7
9.1
27.2
28.3
27.9
47.4 -14.8
11.9 -21.9
31.8
9.0
41.1
15.8
13.2
38.6
9.5
1.5
7.9
8.4
9.0
12.9
2.9
9.7
9.5
10.4
9.2
1.2
7.9
8.4
9.8
18.8
6.1
12.0
12.1
14.1
17.5
6.9
9.9
9.6
11.0
9.5
1.9
7.4
8.3
18.5
6.3
11.4
10.7
3.7
-3.6
7.5
9.9
35.4
13.1
19.7
20.3
8.9
12.4
12.5
11.2
2.6
8.4
18.4
5.7
12.0
-21.2
-20.4
-1.0
11.9
12.5
37.8
25.8
9.6
9.5
9.2
10.6
2.5
7.9
8.2
8.5
2.6
—5.0
8.0
8.7
8.4
20.2
2.2
17.6
11.7
11.2
29.5
18.9
8.9
7.7
19.8
11.9
7.0
6.7
-7.5
-13.1
6.4
8.3
40.2
2.0
37.4
19.7
23.4
11.0
7.1
7.5
17.6
15.0
2.0
12.7
26.2
7.1
17.9
23.2
9.8
12.2
12.4
6.2
5.8
8.4
-.1
8.6
35.0
5.9
27.5
6.1
.6
18.6 -16.0
7.5 -13.9
56.4
26.4
42.9
38.4
35.0
23.1
-32.2
-33.1
51.2
-5.3
5.5
10.3
-2.4
23.8
3.3
9.7
1.3
59.7
9.6
1.2
8.2
8.4
9.8
1.0
8.7
8.8
12.2
3.9
8.0
7.5
10.6
2.4
8.1
7.9
11.2
.6
10.5
10.6
5.6
-2.8
8.6
9.1
9.1
.3
8.8
9.0
9.7
2.3
7.2
7.3
9.0
9.1
8.1
8.3
11.0
9.5
9.0
7.0
11.3
2.3
8.8
9.2
Chain price index
._.
Fixed-weighted price index. . 9.6
8.4
-1.1
9.7
10.3
10.7
10.5
1.5
8.9
9.8
10.5
10.7
.4
10.3
10.7
11.4
12.6 -2.4
1.0 -10.6
9.2
11.5
9.7
11.3
12.1
9.8
7.3
.8
6.5
9.4
9.4
18.9
6.6
11.5
10.8
10.6
12.3
3.5
8.5
8.6
9.2
9.8
.7
9.0
8.5
9.4
16.1
7.2
8.3
7.3
8.8
11.4
2.9
8.2
8.4
9.6
12.0 -1.8
3.1 -10.4
9.6
8.7
8.4
8.3
9.2
9.7
15.9
4.1
11.3
9.4
9.2
15.0
4.4
10.2
10.4
10.0
11.6
2.6
8.8
9.1
9.5
9.5
-.2
9.7
10.2
10.6
14.4
4.6
9.3
9.8
10.5
13.3
2.7
10.3
10.7
11.4
12.0 -3.2
1.0 -11.2
9.0
10.9
11.4
9.7
12.1
9.9
11.2
2.5
8.5
9.4
9.4
19.0
7.2
10.9
9.7
9.6
11.5
2.8
8.5
8.7
Fixed- weighted price index. . 9.2
8.7
-.2
9.0
8.5
9.4
11.1
3.0
7.8
7.4
8.9
9.3
1.0
8.1
8.5
9.7
12.0
2.5
9.3
8.2
9.8
-.6
-9.4
9.8
8.5
9.1
11.6
2.2
9.2
9.4
9.2
15.6
4.4
10.7
10.4
10.0
11.9
2.9
8.7
8.9
8.5
-.5
9.1
8.6
11.5
3.0
8.3
7.7
8.8
1.1
7.6
8.0
12.5 -1.9
2.7 -11.1
10.3
9.5
8.7
8.3
12.3
2.3
9.7
9.9
15.4
5.0
9.9
9.5
9.6
9.6
9.5
9.3
10.2
9.5
9.8
8.9
11.8
3.1
9.1
-.4
11.5
2.7
9.8
1.7
12.9 -1.1
1.7 -10.8
11.6
3.1
17.6
6.9
8.5
8.6
9.6
9.2
8.5
8.0
11.0
10.9
8.3
10.0
9.2
10.3
12.2
3.1
11.0
.7
13.3
3.5
11.6
.8
13.5
1.3
4.4
-4.9
13.3
4.1
12.8
2.9
Government purchases
goods and services:
of
1972 dollars
Implicit price deflator
Chain price index
Fixed-weighted price index..
Federal:
1972 dollars
Implicit price deflator.- .
Fixed-weighted
index
price
National defense:
1972 dollars
Implicit price deflator.
Chain price index
Fixed-weighted
price index
Nondefense:
1972 dollars
Implicit price deflator
Chain price index
Fixed-weighted
price index
State and local:
Current dollars
1972 dollars
Implicit price deflator. _.
Chain price index
Fixed-weighted
price
index
Addenda:
Gross domestic purchases:
Current dollars
1972 dollars
Final sales:
Current dollars
1972 dollars
Implicit price deflator
Chain price index
Fixed-weighted price index..
Final sales to domestic
purchasers:
Current dollars
1972 dollars
Chain price index _ _ _
Fixed-weighted price index..
Gross domestic product:
Current dollars
1972 dollars
Implicit price deflator
Business:
Current dollars ...
1972 dollars
Implicit price deflatorChain price index . .
Fixed-weighted price
index
Nonfarm:
Current dollars
1972 dollars _
Implicit price deflator
Fixed-weighted
Disposable personal income:
Current dollars
__
1972 dollars
in 1972 prices. Changes in the implicit price deflator reflect both changes in prices and changes
in the composition of output. The chain price index uses as weights the composition of output
in the prior period, and therefore, reflects only the change in prices between the two periods.
However, comparisons of percent changes in the chain index also reflect changes in the comoosition of out out. The fixed-weighted price index uses as weights the composition of output
SURVEY OF CURRENT BUSINESS
18
March 1981
Reconciliation and Other Special Tables
Table 1.—Reconciliation of Changes in the Implicit Price Deflator for Personal Consumption Expenditures and the Consumer Price
Index for All Urban Consumers, Seasonally Adjusted
1979'
1978
II
1. Implicit price deflator for personal consumption expenditures (percent change at annual rate).
2 Less* Contribution of shifting weights in PCE
New autos
Gasoline and oil
.
Electricity gas fuel oil and coal ..
_ _ _
Furniture and household equipment
Food purchased for off-premise consumption
Purchased meals a n d beverages
___
Clothing and shoes
-- - - Housing
Other
.--
4. Less: Contribution of differences in weights of comparable C PI and PCE expenditure
components
-Gasoline and oil
Electricity gas fuel oil and coal
Furniture 'appliances floor coverings, other household furnishings .
..
Food at home
_-_-.
Food away from home
.
Apparel commodities
Rent
Other
5. Less: Contribution of PCE expenditure components not comparable with CPI components
New autos
Net purchases of used autos
Owner-occupied nonfarm and farm dwellings—space rent
Services furnished without payment by financial intermediaries except life insurance
carriers
Current expenditures by nonprofit institutions
_
Other
6. Plus: Contribution of CPI expenditure components not comparable with PCE components.
New autos
Used autos
- - Homeownership
_ _ _
Other
.
III
IV
I
II
7.3
8.4
10.0
8.0
9.4
10.7
12.0
_ 3
1
5
.1
.1
-.2
3
.3
.1
.7
_ 7
—1.9
—1.6
2
— 5
— 3
— 3
4
13
— 2
_ 7
.2
0
o
—
i
_ 7
o
—.5
5
.4
—.3
— 23
2
4
g
1
5
9
9,8
o
—4 4
o
g
4
16
2
g
22
III
IV
8.8
9.7
7
c
15
—1 2
9
g
g
g
2
4
—.5
.2
.9
.9
— 2
.4
—.5
—.6
_ i
—1.3
.1
—.5
.7
-.4
13
0
3
—.7
3
2
2
— 5
3
88
9 9
88
10 0
10 9
12 5
97
95
10 2
-.3
-.2
-.2
—1.1
—1.3
-1.0
—1.4
—1.2
—1.5
— 3
-.4
-.2
.1
-.3
.7
-.2
0
-.3
.6
2
—.4
— 4
1
3
—.1
_ 2
-.2
-.2
.1
-.3
.6
-.4
-.3
—.2
0
-.1
-.2
.1
-.2
.5
9
.1
.2
.1
.1
-.2
.1
0
—1.4
—1.0
0
-.4
0
-.2
—.4
.3
-.1
o
.3
.2
.1
0
.2
.1
-.1
.1
.5
-.2
-.1
-.6
.6
—.1
1.9
0
1.1
-.2
.2
0
-.3
.5
-.1
.4
—.4
0
.4
.4
.5
95
7 5
.5
0
—.1
0
.4
-.1
.2
-.3
.5
-.4
-.1
—.1
0
0
-.2
.1
-.1
.1
-.2
.2
.4
.1
o
o
-.3
.2
-.1
.9
-.2
. .
II
— 2
—1.1
1
8 Equals: Consumer Price Index, all items (percent change at annual rate) .
I
8.9
-2.2
..
IV
—.6
1.5
.1
-.9
.5
3 Equals * PCE chain price index (percent change at annual rate)
7. Less: Contribution of differences in seasonal adjustment
III
1980'
o
.2
1.6
0
o
-.7
—.2
o
—.4
0
—.7
— 3
.1
—.1
-.2
1
-.4
.2
— 2
— 6
1
—.4
—.1
2
-.3
1.1
o
15
4
2
_ 3
6
2
1 8
o
—.2
_ i
1
.3
—.2
1
-.3
.3
-.3
1.0
1
6
—.1
1
-.3
.3
—.1
0
—.3
-.2
-.5
0
.1
0
—.1
-.1
-.1
—.1
-.7
0
0
-.6
-.1
.1
0
-.3
.2
0
—.2
0
.5
-.2
.2
-.5
-.2
.3
-.3
1.5
-.4
.8
-.3
2.3
-.1
-.7
3.4
-.3
-1.4
.1
-.3
1.9
-.5
2.4
-.4
1.2
1.9
-.3
o
-.1
-.2
—.1
.6
-.1
-.1
.5
-.2
.6
-.3
.2
1.3
-.2
-.3
1.2
-.3
-.5
1.8
-.4
-.4
-.3
o
-.4
2.7
-.4
—1.0
o
.1
-1.7
.1
.4
0
.1
-.2
.6
-.5
-.3
-.7
.2
-.7
-1.0
.1
-.1
9.5
9.2
9.5
11.0
12.5
14.0
14.3
16.5
13.1
7.7
12.9
r
Revised.
1. These differences arise because component price indexes that are used in the BEA measures and in the CPI are seasonally adjusted at different levels of detail.
Table 2.—Relation of Net Exports of Goods and Services in the National Income an d
Product Accounts (NIPA's) to Balance on Goods and Services in the Balance of Payments Accounts (BPA's)
[Billions of dollars, seasonally adjusted at annual rates]
1980
Line
I
1 Exports of goods and services, BPA's
_
2 Less: Gold, BPA's
3
Capital gains net of losses
in
direct
investment
income
receipts
4
Statistical differences J
5
Other items . _ _
6 Equals' Exports of goods and services, NIPA's
342.1
7
g
9
10
11
12
13
14
Imports of goods and services, BPA's .__
_
Less: Payments of income on U.S. Government liabilities
Gold BPA's
Capital gains net of losses
in direct investment income payments
Statistical differences 1
_
Other items
Plus: Gold NIPA's
_
Equals: Imports of goods and services, NIPA's
15 Balance on goods and services, BPA's (1-7) .
16 Less: Gold (2— 9-f 13)
17
Capital gains net of losses in direct investment income (3-10)
18
Statistical differences (4-11)
19
Other items (5-12)
20 Plus: Payments of income on U.S. Government liabilities (8)
21 Equals: Net exports of goods and services, NIPA's (6-14)
__
__
II
III
IV
327.1
344.1
350.3
-2.1
-2.1
5.0
1.0
—11.1
.4
.4
337.3
333.3
342.4
346.1
345.3
12.2
331.5
11.7
320.0
11.9
338.4
14.1
4.9
-.5
.4
3.4
.1
-.2
0
1.8
1.6
6.6
5.4
-.2
0
1.6
329.1
316.2
297.9
322.7
—3.2
—4.5
11.9
o
24.1
-2.8
-4.3
—1.9
—1.9
11.7
17.1
11.9
44.5
14.1
23.3
7.4
-.2
-.5
0
2.7
—.6
1.1
o
4
12.2
8.2
4.8
.8
-.5
o
1.7
— 11.9
.4
1. Consists of statistical revisions in the BPA's that have not yet been incorporated in the NIPA's.
2.2
1.1
4.0
.8
-.5
.4
.4
3.3
.9
.4
Revised estimates of capital
stocks and related measures for
fixed nonresident! al private and
residential capital, governmentowned fixed capital, and durable
goods owned by consumers for
1925-79 in machine readable form
are now available for sale. Copies
of the data tape are available for
$100 from National Income and
Wealth Division (BE-54), Bureau
of Economic Analysis, Washington, D.C. 20230. Please make remittance payable to "Bureau of
Economic Analysis."
By GARY L. RUTLEDGE and SUSAN L. TREVATHAN
Pollution Abatement and Control
Expenditures, 1972-79
R
EAL spending for pollution abatement and control (PAC) increased l1/^
percent in 1979, compared with 5 percent in 1978 and an average annual rate
of 6 percent during 1972-78. Air PAC
spending increased 2i£ percent in 1979,
and water PAC spending decreased
V/2 percent. Spending for solid waste
collection and disposal increased 6
percent. Additional highlights are:
• Real spending for PAC amounted
to $26.1 billion (1972 dollars) in
1979.
• Prices for PAC goods and services
increased more in 1979 than in any
year since 1974.
• Business was the only sector with a
real spending increase in 1979.
Government spending declined 2
percent, and personal consumption
was unchanged (chart 4).
• Real spending by government
enterprises for sewer systems, the
largest single component of PAC,
decreased 3y2 percent in 1979, compared with a 14i^> percent increase
in 1978.
This article discusses real spending
for PAC and prices in 1979, evaluates
the limited data for 1980 available as
of mid-March, presents revised estimates of spending for 1972-78, and
analyses trends in real spending for
1972-79. PAC expenditures are for reducing the emission of pollutants and
for the collection and disposal of solid
wastes by means acceptable to Federal,
State, and local authorities. PAC expenditures consist of those for pollution
abatement (PA), which reduce emissions directly, and for regulation and
monitoring and for research and development, which lead indirectly to the
reduction of emissions. Other aspects of
environmental protection, such as expenditures for conservation of natural
resources and the protection of endangered species, are excluded. Pollutants
are substances (and forms of energy
such as noise) that degrade the quality
of air and water shared by all.
PAC expenditures are classified in
table 1 (p. 21) by type (e.g., water
PAC). For each type, detail is shown
for functions (e.g., research and development), sectors (e.g., business), and
accounting categories (e.g., on capital
account). Because data are not available, the estimates exclude spending for
PAC performed during agricultural
production of crops and livestock except
in feedlots. Table 2 (p. 20) shows additional detail for business and govern-
ment expenditures for air and water
PA using the same framework as table
1; additional detail for air and water
PAC other than PA are not available.
Table 3 shows price changes for total
PAC expenditures and selected components. Table 4 shows Federal grants
to State and local governments for PAC.
Table 5 shows sources of the revisions in
PAC expenditures. Tables 6 and 7 show
air and water PA expenditures according to sources of emissions; sources are
classified generally as mobile, stationary, point, and nonpoint. Table 8 shows
spending for aspects of solid waste management, which includes but is not confined to collection and disposal by means
acceptable to public authorities.
Real PAC spending in 1979.—ReaJ
spending
for PAC increased $0.3 billion
•••••••••••••• CHART 4
in
1979,
one-quarter the increase in
Pollution Abatement and Control
1978.
Spending
for air PAC and for
Expenditures by Sector, 1972-79
solid waste collection and disposal
Billions of 1972$
30I
increased, water PAC
spending
decreased, and "other and unallocated"
spending did not change significantly.
25
Air PAC spending increased $0.3
billion in 1979. Business spending for
air PA accounted for all of this
20
increase; small changes in other air
PAC spending were offsetting. Both
Government
capital-account spending (for goods
15
such as equipment) and currentaccount spending (for other goods and
services such as fuel and labor)
10
increased significantly. Water PAC
spending decreased $0.2 billion in 1979.
jsine:
Government capital spending for water
PA (public sewer systems and other
government enterprise fixed capital)
accounted for most of the decrease. Busi1972
73
74
76
77
78
79
75
ness spending for water PA was essenNote.—Data are from table 1. Business is the sum of lines 28 and 42;
tially unchanged; decreased capitalgovernment, lines 34, 38, 43, and 44; consumers, line 25.
account spending offset increased
U.S. Department of Commerce, Bureau of Economic Analysis
19
SUEVEY OF CURRENT BUSINESS
20
March 1981
Table 2.—Business and Government Expenditures for Air and Water Pollution Abatement in Current and Constant (1972) Dollars and
Selected Implicit Price Deflators
Air
1972'
1973'
1974'
1975'
Water
1976'
1977'
1979*
1978'
1972'
1973'
1974'
1975'
1976'
1977'
1978'
1979 *
Millions of current dollars
Business (line 6) 1
On capital account (line 7)—
Motor vehicle emission abatementPlant and equipment3 expenditures 2 .
Residential systems -4
Agricultural business
On current account (line 8)
Private (line 9)
Motor vehicle emission abatement
Manufacturing establishments
Privately owned electric utility establishments
-.
Other nonmanufacturing
establishments —
Residential systems 3
Agricultural business *
Government enterprise (line 10)
Pliblicly owned electric
utilities
Public sewer systems 5.
Other
Government (line 12) _
Federal (line 13)
Federal, excl. highway erosion abatement . .
Highway erosion abatement
State and local (line 14)
. . .
State and local excl. highway erosion
abatement
Highway erosion abatement
Government enterprise fixed capital (line 15)..
Publicly owned electric utilities
Public sewer systems 6
4,165
5,338
6,869
8,557
9,103
9,776
10,858
12,980
4,752
5,638
6,244
7,202
8,481
9,598
10,735
11,965
2,533
225
2,307
3,286
339
2,947
3,805
444
3,362
4,819
770
4,048
4,804
963
3,841
4,922
1,158
3,763
5,212
1,352
3,860
5,892
1,527
4,365
2,621
3,115
3,212
3,621
4,227
4,557
4,923
5,151
1,632
1,612
435
744
2,052
2,022
610
812
3,063
2,995
1,060
960
3,739
3,679
1,294
1,200
4,299
4,227
1,492
1,508
4,855
4,777
1,659
1,789
5,646
5,545
1,912
2,031
7,088
6,968
2,640
2,476
1,358
1,260
3
2,132
1,004
1,743
1,369
3
2,523
1,205
1,947
1,259
7
3,032
1,455
2,553
1,060
7
3,581
1,731
2,983
1,236
8
4,254
2,093
2,996
1,553
8
5,040
2,474
3,081
1,837
5
5,812
2,816
3,108
2,040
3
6,814
3,353
572
1,037
565
1,163
689
698
845
1,021
1,246
1,496
1,702
2,048
32
205
195
(*)
1,128
4
1,124
C)
35
261
211
1
1,318
6
1,311
1
54
325
229
1
1,577
5
1,571
1
63
398
247
2
1,850
7
1,842
(*)
91
485
268
2
2,161
8
2,153
1
102
580
292
3
2,567
12
2,554
(*)
115
672
323
4
2,997
20
2,977
1
130
821
351
5
3,460
32
3,428
229
204
373
227
706
269
853
332
811
416
836
492
20
20
30
30
68
68
60
60
72
72
78
78
102
102
120
120
142
129
161
190
259
299
284
340
3,485
3,964
4,883
5,768
6,352
6,403
7,976
8,635
56
56
47
47
56
56
88
88
105
105
106
106
87
87
102
102
75
70
5
171
133
129
5
171
196
192
4
189
271
266
5
210
257
252
5
204
280
274
6
189
300
294
7
212
345
338
7
226
171
3, 238
30
3,208
171
3,660
58
3,603
189
4,499
78
4,421
210
5,287
64
5,223
204
5,891
73
5,818
189
5,934
75
5,859
212
7,464
98
7,366
226
8,064
97
7,967
<•)
(*)
C)
1
1
1
1
C)
(*)
(')
C)
1
1
1
1
(*)
162
102
154
154
192
192
196
196
86
86
82
82
104
104
238
238
Millions of constant (1972) dollars
Business (line 28)
On capital account (\ITL& 29)
-.
Motor vehicle emission abatement- 2
Plant and equipment
expenditures
Residential systems 3
Agricultural business 4
On current account (line 30)
Private (line 31)
Motor vehicle emission abatement _ _
Manufacturing establishments
Privately owned electric utility establishments.Other nonmanufacturing
establishments —
Residential systems 3 Agricultural businesses *
Government enterprise (line 32) _ _ _ _ _
Publicly owned electric
utilities
Public sewer systems 5 __
Other
Government (line 34) . . .
Federal (line 35)
Federal, excl. highway erosion abatement. .
Highway erosion abatement.
State and local (line 36)
State and local excl. highway erosion
abatement
Highway erosion abatement
_ _ _
Government enterprise fixed capital (line 37).
Publicly owned electric utilities
Public sewer systems ^
4,165
4,990
5,057
5,768
5,840
5,818
6,054
6,315
4,752
5,319
5,100
5,247
5,753
5,977
6,215
6,195
2,533
225
2,307
3,143
339
2,804
3,156
419
2,737
3.610
670
2,940
3,443
787
2,656
3,331
900
2,432
3,330
975
2,355
3,445
1,021
2,425
2,621
2,942
2,689
2,756
3,012
3,023
3,009
2,846
1,632
1,612
435
744
1,847
1,822
566
741
1,901
1,879
780
676
2,158
2,135
860
736
2,397
2,368
935
863
2,487
2,454
975
899
2,724
2,685
1,068
963
2,870
2,830
1,116
1,039
1,358
1,260
3
2,132
1,004
1,638
1,301
3
2,377
1,134
1,610
1,074
5
2,411
1,143
1,946
805
5
2,491
1,181
2,15l
857
5
2,741
1,323
2,025
993
5
2,954
1,405
1,919
1,087
3
3,206
1,520
1,758
1,086
2
3,350
1,580
572
655
648
671
760
817
891
927
229
204
308
208
233
189
336
203
332
238
335
246
389
266
388
287
20
20
25
25
23
23
24
24
29
29
33
33
38
38
40
40
32
205
195
(*)
1,128
4
1,124
(*)
33
245
201
(*)
1,243
6
1,237
1
41
247
207
1
1,268
4
1,264
1
53
293
215
2
1,417
5
1,413
0
123
130
137
176
188
166
180
3,485
3,685
4,134
4,762
54
314
218
2
1,549
7
1,542
<*)
4,476
57
350
220
2
1,685
10
1,676
(*)
142
39
259
211
1
1,309
5
1,304
C)
4,615
5,063
59
369
223
2
1,770
14
1,755
<•)
4,905
56
56
45
45
46
46
63
63
70
70
65
65
48
48
50
50
75
70
5
171
124
120
4
155
166
163
3
137
216
212
3
147
190
186
4
142
193
189
4
117
188
185
3
100
195
191
3
101
171
3,238
30
3,208
155
3,406
54
3,352
137
3,832
61
3,771
147
4,252
45
4,208
142
4,430
49
4,381
117
4,166
48
4,118
100
4,776
59
4,717
101
4,610
53
4,557
<*)
(*)
86
86
(•)
<•)
78
78
<•)
(')
84
84
<•)
1
1
1
(•)
(*)
1
1
1
(*)
105
105
122
122
118
118
73
73
130
130
Selected implicit price deflators •
Plant and equipment expenditures (see above,
business, capital account) *
Manufacturing, privately owned electric utilities,
and other non-manufacturing establishments
(see above business, current account)
Public sewer
systems (see above, business, current
account) 5
Public sewer systems (see above, government,
fixed capital) •
100.0
105.1
122.8
137.7
144.7
154.8
163.9
180. 0
100.0
106.4
120.9
131.2
138.7
147.9
160.5
176.9
100.0
112.4
176.1
187.1
190,9
210.8
224.6
252.6
100.0
106.5
130.9
153.0
164.8
183.8
191.8
221.3
100.0
106.0
124.3
141.2
152.4
165.6
177.6
195.3
100.0
107.5
117.2
124.1
132.8
142.3
156.2
174.8
' Revised. * Preliminary. "Less than $500,000.
1. Line numbers correspond to those in Table I.
2. Consists of manufacturing, private and cooperatively-owned electric utilities, and other
nonmanufacturing companies.
3. Consists of private septic systems and sewer connections linking household plumbing to
street sewers.
4. Feedlot operations only, see footnote 1 on table 1.
5. Public sewer systems consist of treatment plants, collection sewers, interceptor sewers,
pumping stations, and dry waste disposal plants.
6. Current-dollar estimates divided by constant (1972) dollar estimates.
SURVEY OF CURRENT BUSINESS
March 1981
current-account spending. Spending for
solid waste collection and disposal increased $0.2 billion in 1979. Business
spending accounted for virtually all this
increase; both capital-account and
current-account spending increased but
the increase was largely on currentaccount.
The largest single increase was in
business cur rent-account spending for
solid waste collection and disposal. The
increase reflects increased intensity of
use of trucks and facilities, an increase
in the gross stock of trucks and facilities, and increased precaution during
collection and disposal (e.g., separation
21
of types of waste for special handling).
Eules and guidelines, which were mandated by the Resource Conservation
and Recovery Act of 1976, have been
under development for several years
and are being made final in phases. They
began to be proposed and published for
public comment in early 1978 and a few
Table 1.—-Expenditures for Pollution Abatement and Control in Current and Constant (1972) Dollars and Selected Implicit Price Deflators
1972'
Line
Total
Air
Water
1973'
Solid
waste
Other and
unallocated 2
Total
Air
Water
]
1974'
Solid
waste
Other and
unallo-2
cated
Solid
waste
Other and
unallo-2
cated
Total
Air
Water
10,477
9,696
2,667
690
1,977
6,869
3, 805
3,063
2,995
68
11,527
11, 128
4,447
4,385
-194
-534
6,244
3,212
3,032
1, 455
1,577
2,944
453
2,492
2,491
(*)
-538
(*)
-470
6
6
(*)
26,258
24, 675
2,667
690
1,977
15, 519
7,470
8,049
6,941
1,646
-538
6,489
294
1,592
(*)
161
56
(*)
4,883
196
189
1,441
39
1,403
(*)
117
115
2
122
35
69
18
4, 603
595
346
248
988
608
342
39
104
183
52
131
599
492
100
7
4,499
247
135
112
153
57
78
18
27
22
5
35
13
17
5
7,968
7,304
2,116
651
1,465
5,057
3,156
1,901
1,879
23
9,579
9,234
3,650
3,597
-84
-379
5,100
2,689
2,411
1,143
1,268
2,416
382
2,034
2,034
(*)
-383
130
46
(*)
4,134
166
137
1,180
32
1,148
23
20
4
30
11
15
4
Millions of current dollars
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
Pollution abatement and
control.. _
18,220
Pollution abatement 3
17, 031
P ersonal consumption
1,536
Durable goods ..
476
Nondurable goods and services _. 1,060
Business
10, 722
On capital account
5,451
On current account - 5,271
Private
4,538
1,148
Government enterprise
Costs recovered .
- _
-415
Government
__
_. 4,774
Federal
139
State and local
_ _ _
1,311
Government enterprise fixed
3,324
capital
Regulation and monitoring
367
Federal
200
State and local
167
823
Research and development
Private
.
519
Federal
205
State and local
99
6,516
5,843
1,536
476
1,060
4,165
2, 533
1,632
1,612
20
8,523
8,237
3,405
3,364
-224
-412
4,752
2,621
2,132
1,004
1,128
2,220
298
1,922
1,922
(*)
-415
142
56
(*)
3,485
75
171
1,144
5
1,140
86
143
48
95
531
411
104
17
3,238
144
79
66
142
64
34
44
14
9
5
27
12
6
10
8,280
7,532
2,065
670
1,395
5,338
3,286
2,052
2,022
30
9,957
9,602
3,852
3,801
-225
-463
5,638
3,115
2,523
1,205
1, 318
2,523
368
2,155
2,155
(*)
-470
(*)
-415
3
3
(*)
21,865
20, 472
2,065
670
1,395
13, 029
6,769
6,260
5,382
1,348
-470
5,378
203
1,433
129
47
(*)
3, 964
133
171
1,278
16
1,262
66
64
2
122
32
62
28
3,742
490
278
212
903
569
269
65
82
165
50
115
583
451
126
6
3,660
190
99
91
165
70
62
33
-415
-470
18
14
4
33
13
11
9
-538
-538
4
4
138
138
(*)
202
46
146
9
Millions of constant (1972) dollars
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
Pollution abatement and
control
18,220
Pollution abatement 3
17, 031
Personal consumption
1,536
Durable goods.. _ _ _
476
Nondurable goods and services.. 1,060
Business
10, 722
On capital account
5,451
On current account
5,271
Private
4,538
Government enterprise
- _. 1,148
Costs recovered
-415
Government
4,774
Federal
139
State and local
1,311
Government enterprise fixed
capital
3,324
Regulation and monitoring
367
Federal
200
State and local _
167
Research and development. . .
823
Private519
Federal
205
State and local
99
6,516
5,843
1,536
476
1,060
4,165
2, 533
1,632
1,612
20
8,523
8,237
3,405
3,364
-224
-412
4,752
2,621
2,132
1,004
1,128
2,220
298
1, 922
1,922
(*)
-415
142
56
(*)
3,485
75
171
1,144
5
1,140
86
143
48
95
531
411
104
17
3,238
144
79
66
142
64
34
44
14
9
5
27
12
6
10
7,780
7,078
1,965
670
1,295
4,990
3,143
1,847
1,822
25
9,337
9,004
3,590
3,542
-177
-401
5,319
2,942
2,377
1,134
1,243
2,351
353
1,999
1,999
(•)
-407
(*)
-415
3
3
(*)
20, 530
19, 224
1,965
670
1,295
12, 254
6,437
5,816
4,955
1,268
-407
5,005
190
1,331
123
45
(*)
3,685
124
155
1,191
16
1,175
(*)
-407
6
6
(*)
21, 113
19, 755
2,116
651
1,465
12, 191
6,227
5, 964
5,055
1,291
-383
5,448
247
1,285
66
64
2
122
32
62
28
3,484
458
261
197
849
534
253
61
78
154
47
107
548
424
118
6
3,406
178
93
85
155
66
59
31
17
14
3
31
12
11
8
109
108
2
115
33
65
17
3,916
518
306
212
840
513
294
34
84
157
46
112
507
415
86
6
3,832
215
119
96
131
48
67
16
124.4
124.9
126.0
127.3
120.0
135.6
119.1
114.8
117.6
131.5
132.8
126.0
135.8
120.6
161.1
123.5
115.9
118.2
120.3
120. 5
121.8
121.9
129.5
140.4
122.4
119.5
125.7
118.1
114.9
116.9
121.8
118.4
122.5
122.1
114.1
116.7
140.6
-415
-407
-383
(*)
-383
4
3
(*)
122
122
(*)
173
39
126
8
Selected implicit price deflators 4
45
46
47
48
49
50
51
52
53
Pollution abatement and control
Pollution abatement
Personal consumption
Business
On capital account
On current account
Government
Regulation and monitoring
Research and development
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100. 0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
106.5
106. 5
105. 1
106.3
105.1
108.6
107.5
107.0
106.4
106.4
106.4
105.1
107.0
104.6
111.1
105.0
107.3
106.5
106.6
106.6
107.3
107.3
112.2
115.3
106.0
105.9
106.1
107.6
106.9
106.2
107.3
104.3
107.8
107.4
106.5
106.4
115.5
115.5
106.7
106.7
106.3
140.6
117.1
113.4
116.7
Addendum: Business capital consumption allowance (Millions) »
54
55
Valued at replacement cost in current
dollars
Valued at replacement cost in constant
(1972) dollars
1 324
1,629
2,111
1,324
1,555
1,790
' Revised.
p Preliminary.
* Less than $500,000.
1. Includes expenditures for air and water pollution abatement and control Includes
expenditures for solid waste collection and disposal by means acceptable to Federal, State,
and local authorities. Excludes agricultural production of crops and livestock except feedlots.
2. "Other" includes expenditures for abatement and control of noise, radiation, and pesticide pollution; "unallocated" includes business expenditures not assigned to media.
3. Expenditures are attributed to the sector that performs the air or water pollution abatement or solid waste collection and disposal.
4. Current dollar estimates divided by constant (1972) dollar estimates.
5. To facilitate conversion of expenditures to a cost basis.
SUEVEY OF CUEEENT BUSINESS
22
nance construction. Federal grants for
construction of treatment plants (see
water PA, table 4) decreased in 1978
after increasing in 1977, as did State
and local long-term borrowing for public sewer systems. Because of the time
lag between financing and construction,
the 1978 decreases and the 1977 increases both affected construction significantly in 1979, but the 1978 decreases had the predominant effect. Re-
were made final in 1979. Increased precaution in 1979 was largely in preparation for forthcoming final rules and
guidelines.
The largest single decrease was for
the construction of public sewer systems
(including municipal sewage treatment
plants) and other government enterprise fixed capital, reflecting a reduced
flow of Federal funds for such construction and reduced borrowing to fi-
March 1981
duced borrowing in 1978 was largely
due to increased long-term interest
rates in 1978 and in early 1979.
Prices in 1979.—Prices of PAC goods
and services, as measured by the implicit price deflator, increased 12.6 percent in 1979, compared with 7.4 percent
in 1978. Prices of air PAC goods and
services increased 15.1 percent, several
percentage points more than for other
types of PAC.
Table 1.—Expenditures for Pollution Abatement and Control in Current and Constant (1972)
1975'
Line
Total
Air
Water
1976'
Solid
waste
Other and
unallocated 2
Total
Air
Water
1977 '
Solid
waste
Other and
unallocated 2
Air
Water
Solid
waste
Other and
unallocated 2
37,610
35, 284
4,311
2,166
2,145
-887
22, 393
10, 010
-887
12, 383
10, 696
1 2,646
-887
-958
59
8,580
59
491
1,963
(*)
15, 439
14, 386
4,311
2,166
2,145
9,776
4,922
4,855
4,777
78
16,577
16,001
5,869
5,793
-275
-895
9,598
4,557
5,040
2,474
2,567
3,977
531
3, 446
3,445
(*)
-957
299
106
1
6,403
280
189
1,817
43
1,774
1
-958
62
62
(*)
6,126
833
429
404
1,494
865
578
51
192
241
80
161
812
662
144
7
5,934
370
146
224
207
99
90
18
37
26
12
39
21
14
4
184
177
7
436
83
330
23
24,503
22,917
2,945
1,683
1,262
-555
13,996
6,703
7,293
-555
6,275
1
1,583
555
564
44
5,976
44
331
1,357
(*)
9,658
8,951
2,945
1,683
1, 262
5,818
3,331
2,487
2,454
33
10,850
10, 453
4,087
4,034
-92
-521
5,977
3,023
2,954
1,405
1,549
2,765
349
2,416
2,416
(*)
-564
188
65
1
4,476
193
117
1,269
30
1,239
4,288
585
311
274
1,002
571
394
37
122
168
58
109
540
437
98
5
4,166
258
106
152
139
65
61
13
27
19
8
26
14
10
3
153.5
154.0
146.4
160.0
149.3
169.8
143.6
142.4
149.2
159.9
160.7
146.4
168.0
147.7
195.2
159.1
144.1
150.5
152.8
153.1
143.6
143.6
158.3
168.2
160.6
150.8
170.6
143.0
143.7
148.5
143.8
152.1
142.6
143.1
140.8
148.1
169.9
Total
Millions of current dollars
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
Pollution abatement and
control.
Pollution abatement 3.
Personal consumption
Durable goods
_
Nondurable goods and services.
Business.
_
_
._
On capital account
On current account
Private
Government enterprise
Costs recovered.
Government
Federal
State and local
Government enterprise fixed
capital..
Regulation and monitoring
Federal
State and local
Research and developmen t
Private.
Federal
State and local
30,990
29, 233
3,463
1,361
2,102
18, 197
8,875
9,322
8,105
1,910
-693
7,573
432
1,752
12,999
12, 211
3,463
1,361
2,102
8,557
4,819
3,739
3,679
60
13,412
12,969
4,796
4,722
7,202
3,621
3, 581
1,731
1,850
3,131
436
2,694
2,694
(*)
190
88
1
5,768
271
210
1,591
50
1,541
5,389
653
381
272
1,104
609
448
47
102
206
66
139
583
466
108
8
5,287
279
153
126
164
68
77
19
32
26
6
42
21
15
6
-217
34,585
32, 594
3,994
1,821
2,173
-692
20, 249
9,505
-692
10, 744
9, 397
1 2,234
-693
-887
23
8,351
23
472
1,834
(*)
14,219
13,357
3,994
1,821
2,173
9,103
4,804
4,299
4,227
72
15,337
14, 833
5,299
5,232
8,481
4,227
4,254
2,093
2,161
3,552
474
3,078
3,077
(*)
259
105
1
6,352
257
204
1,681
52
1,629
6,045
725
402
323
1,266
693
528
45
154
203
69
135
659
522
131
6
5,891
328
151
177
177
75
84
18
28
21
7
40
21
14
4
-669
136
136
(*)
316
54
248
14
-270
-828
167
162
5
391
75
299
17
-957
Millions of constant (1972) dollars
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
Pollution abatement and
control
22,941
Pollution abatement 3
21, 570
Personal consumption.
2,589
Durable goods
1,184
Nondurable goods and services.. 1,405
Business
12, 978
On capital account
6,691
On current account
6,287
Private
5,409
Government enterprise
1,333
Costs recovered
455
Government .
6,003
Federal
336
State and local
1,342
Government enterprise fixed
capital... ...
4,325
Regulation and monitoring
524
Federal
311
State and local
213
Research and development
847
Private
461
Federal
348
State and local
38
9,100
8,493
2,589
1,184
1,405
5,768
3,610
2, 158
2,135
24
10,212
9,861
3,709
3,651
-80
-435
5,247
2, 756
2,491
1,181
1,309
2,418
325
2,093
2,092
(*)
-454
137
63
(*)
4,615
216
147
1,233
38
1,195
73
163
54
109
444
354
84
6
4,252
224
125
99
127
51
60
15
26
21
5
32
16
11
5
-454
(*)
455
19
19
(*)
111
111
(*)
244
41
192
11
24, 187
22, 733
2,857
1,489
1,368
13, 653
6 791
6,862
5,970
1.447
555
6,224
341
1,347
9,492
8,872
2,857
1,489
1,368
5,840
3,443
2,397
2,368
29
10,887
10, 515
3,906
3,857
5,753
3,012
2,741
1,323
1,417
2,615
336
2,279
2,279
(*)
176
70
1
4,762
190
142
1,242
38
1,204
4,535
543
309
234
911
491
385
35
105
150
53
98
470
370
95
5
4,430
244
116
128
128
53
61
14
21
16
5
29
15
10
3
-98
-511
128
125
3
284
53
218
13
-564
-564
43
42
(*)
1
133
129
;
296
55
225
17
Selected implicit price deflators *
45
46
47
48
49
50
51
52
53
Pollution abatement and control
Pollution abatement
Personal consumption
Business .
...
On capital account
On current account
Government
-.
Regulation and monitoring
Research and development
135.1
135.5
133.8
140.2
132.6
148.8
126. 2
124.6
130.3
142.8
143.8
133.8
148. 4
133.5
173.2
139.5
126.1
131.2
131.3
131.5
129.3
129.3
140.9
151.3
137.3
131.4
143.8
125.0
124.8
129.5
129.5
134.1
128.8
129.1
123.3
129.9
152.4
152.4
123.8
122.3
129.1
143.0
143.4
139.8
148.3
140.0
157.0
134.2
133.4
139.1
149.8
150.5
139.8
155.9
139.5
179.3
147.5
135.1
140.3
140.9
141.1
135.7
135.7
148.7
158.0
147.4
140.3
155.2
133.4
134.2
138.2
135.8
141.1
135.0
135.3
132.2
138.6
159.9
159.9
133.9
129.9
137.5
Addendum: Business capital consumption allowance (Millions) 5
54
55
Valued at replacement cost in current
dollars.
Valued at replacement cost in constant (1972) dollars.
See footnotes on page 21.
2,649
3,214
3,836
2,050
2,326
2,615
169.9
145.6
138.2
147.2
SUEVEY OF CUEKENT BUSINESS
March 1981
23
fixed-weighted index measure only weighted index in 1979. A fixed-weightchanges in prices; the composition of ed index of energy components of PAC
purchases is held constant. The chain increased more than three times the 1978
index is based on the composition of rate—29.1 percent compared with 6.2
purchases in the preceding year and the percent. Energy purchases account for
fixed-weighted index is based on their about one-tenth of total PAC purchases.
composition in 1972. Compositional A PAC fixed-weighted index that exshifts had little effect on measures of cludes all identifiable energy purchases
price change in 1979.
accelerated much less—it increased 10.3
Energy prices accounted for almost percent compared with 7.2 percent in
one-half of the acceleration of the fixed- 1978. Energy prices affected the prices
of PAC goods other than energy to some
Dollars and Selected Implicit Price Deflators 1—Continued
extent but this is not taken into account
in the result reported. Prices of PAC
1979*
1978'
goods other than energy accelerated
Other and 2
Other and
Solid
Solid
with few exceptions in 1979; prices of
Water
Air
Total
Air
Water
waste
unallocated
waste
Line
Total
unallocated
business capital for air PA accelerated
more than prices of other goods except
Millions of current dollars
energy.
20,017
42, 495
16,969
19,350
6,527
-351
48,496
21,278
7,637
-435
1
Real PAC spending in 1980.—Ac45,683
39, 894
15, 790
6,430
20,600
7,473
18, 711
18, 795
2
-1,038
-1, 186
4,049
4,649
5,475
5,475
3
cording to limited information avail2,412
2,412
2,741
2,741
4
2,734
2,237
2,237
2, 734
5
able
in mid-March, real spending for
24, U23
11,965
5,284
10, 858
10, 735
4,396
28,996
12,980
-1,233
-1,067
6
10, 710
5,212
4,923
752
5,892
7
576
11, 796
5,151
PAC
in 1980 was roughly the same as
14, 212
5,812
17,200
6,814
3,820
4,532
5,646
-1,067
-1, 233
7,088
8
12, 180
5,545
2,816
3,820
3,353
4,532
14, 853
6,968
9
in
1979.
Spending for air PAC increased
1
3,099
102
2,997
3,581
120
3,460
10
(*)
(*)
(*)
11
-1,067
-1,233
-1,233
-1, 067
and
water
PAC decreased. Spending for
10,323
11,212
284
2,034
29
340
8,635
2,189
12
7,976
48
300
45
50
13
461
87
538
102
345
42
28
solid waste collection and disposal prob2,202
1
2,372
212
1,989
2,140
14
226
6
(*)
(*)
7,060
7,464
8,302
8,064
15
196
238
ably increased, although little informa945
412
50
211
104
277
407
1,066
289
16
261
507
tion is currently available. Other and
94
27
199
604
37
187
101
238
17
228
438
22
462
32
183
220
13
175
67
188
18
1,657
902
933
60
19
47
1,748
266
490
231
476
unallocated PAC spending was small
987
814
20
735
118
31
125
107
1,088
28
116
129
611
159
592
112
25
327
21
105
331
16
and its change insignificant. Business
59
19
4
22
4
69
38
19
29
8
8
plans as of late 1979 were for an increase
Millions of constant (1972) dollars
in 1980 in new plant and equipment
spending for air and a small decrease
25,771
4,264
10,198
11,510
-107
23
9,945
11,687
-125
26, 112
4,511
24, 126
9,210
11,101
4,413
24
4,202
9,485
-566
-565
24,433
11,278
for water PA. Government spending for
2,990
2,990
25
2,990
2,990
1,740
1,740
1,833
1,833
26
construction of public sewer systems de1,250
1,250
27
1,158
1,158
14,555
6,054
6,315
6,195
3,101
-592
6,215
-582
15, 019
28
2,868
creased by a large amount in 1980 and
6,685
3,330
3,445
409
29
3,009
6,700
2,846
346
7,870
2,870
30
2,724
3,350
2,691
-592
2,522
-582
3,206
8,318
business spending for installation of
6,727
2,830
1,580
2,685
1,520
2,522
7,101
2,691
31
1,725
40
32
38
1,810
1, 770
1,686
(*)
(*)
(*)
(*)
-583
33
—592
-592
-583
septic systems and private connectors
6,581
6,424
34
166
1,334
180
4,905
1,312
27
5,063
18
282
23
35
48
297
50
195
188
29
18
29
to public sewer lines decreased. A con1
1,406
1,387
3
100
1,305
36
101
1,283
(*)
(*)
tinued—though modest—increase of the
4,893
4,740
130
4,610
37
118
4,776
174
616
264
32
250
62
161
38
179
141
648
gross stock of air and water PA capital
339
142
63
147
39
63
125
375
23
18
133
277
14
273
19
40
116
139
111
103
39
8
suggests a further increase in spending
1,029
1,032
41
556
145
159
30
539
298
299
36
605
622
71
42
465
451
66
17
68
71
18
on
current account to operate such capi385
202
100
367
69
80
66
10
16
43
208
40
12
24
44
5
43
5
2
13
3
19
tal.
The chain price index and the fixedweighted index increased at about the
same rate as the implicit price deflator
in 1979 (table 3). The implicit price deflator measures the average price of
PAG purchases in each year. As a result, changes in the deflator measure
not only changes in prices but also
shifts in the composition of these purchases from year to year. In contrast,
changes in the chain price index and the
Selected implicit price deflators *
164.9
165.4
155.5
171.2
160.2
180.9
156.9
153.5
160.9
170.6
171.4
155.5
179.4
156.5
207.3
170.8
154.9
162.2
165.6
165.9
153.1
153.0
171.5
182.5
172.7
163.6
181.3
157.5
154.1
159.9
153.3
166.5
151.5
152.5
154.3
160.1
183.2
183.2
161.6
150.3
159.2
185.7
187.0
183.1
193.1
176.0
207.0
174.5
164.5
169.4
196.3
198.2
183.1
205.5
171.0
247.0
188.7
166.1
173.0
184.9
185.6
169.3
169.4
188.5
207.0
193.1
181.0
203.4
176.0
164.6
167.0
170.4
183.7
168.4
166.9
166.2
167.7
208.3
208.3
179.6
162.1
164.4
45
46
47
48
49
50
51
52
53
Addendum: Business capital consumption allowance (Millions) 5
4,556
5,438
54
2,907
3,177
55
Revisions in real PAC spending during
1972-78
Each year the PAC spending series
is revised to incorporate improvements
in coverage and in statistical procedures
before being extended an additional
year. Eevisions this year are moderate
in size compared with previous revisions.
Coverage refers to the comprehensive-
24
SUEVEY OF CUEEENT BUSINESS
Table 3.—Percent Change From Preceding Year in Pollution Abatement and Control
Expenditures (Total and Selected Components) in Current and Constant (1972)
Dollars, Implicit Price Deflators, and Price Indexes
1972-78
average
annual
rate l
Pollution abatement and control—total:
Current dollars
1972 dollars
Implicit price deflator
Chain price index
„ .
Fixed-weighted price index
Business capital—air:
Current dollars
1972 dollars
Implicit price deflator
Chain price index
__
Fixed-weighted price index
15 2
59
87
_
8.9
_ .
12.8
4 7
7 8
8.3
1973 '
1974 r
1975 '
20
12
6
6
6
0
7
5
6
6
20
2
16
17
17
18
8
8
8
8
29
24
4
4
4
7
1
6
7
7
15 8
15 3
15 7
16 0
26 6
14 4
10 7
11 7
11 8
18
12
5
5
5
9
3
9
9
9
3
8
12
12
12
1
6
8
6
5
12
2
10
10
10
48
3
43
50
47
1
1
6
7
3
22
13
8
6
5
20 7
Business capital—water:
Current dollars
1972 dollars
Implicit price deflator. .
Chain price index
_
Fixed-weighted price index
11 1
2 3
85
Business current account, private—air:
Current dollars
1972 dollars
___
Implicit price deflator. .
_ __
Chain price index
Fixed-weighted price index
22 9
8 9
12.8
13 2
25 4
13 0
11 0
10.7
10 7
Business current account, private—water:
Current dollars
1972 dollars
Implicit price deflator
Chain price index
Fixed- weighted price index
18 8
7 2
10.8
20 0
13 0
6 3
10 6
6 2
87
6.2
1
8
8
4
0
4
3
19 8
19.9
19 6
0
7
6
9
9
1976'
1977'
1978 '
1979"
11 6
5 4
58
6 0
6 1
87
13
73
7 3
75
13 0
14. 1
74
7 4
75
12 6
12 5
59
13 1
3 C
3
2
3
5
6
6
t o
4
2
9
6
9
6
5
2
1
7
5
0
0
3
16
9
6
6
7
7
3
8
8
6
7 8
o n
3
5
75
7 2
76
85
84
83
9
6
1
1
9
14
10
3
4
4
9
9
6
2
5
13 0
36
91
9 2
10 0
16 1
9 4
6 1
58
5 9
25
5
19
19
17
7
4
3
5
3
19 0
34
15 2
15 1
14 9
20
12
7
7
7
9
0
9
5
5
18 2
6 2
11 3
11 0
11 0
13 8
82
53
50
51
19
4
14
14
14
1
0
6
5
2
Q
fi" fl
6 4
6 1
lion (1972 dollars) for 1976 and 1975
and $0.1 billion in 1978 and 1974; the revision was very small in 1977. Downward revisions amounted to about $0/
billion for 1973 and 1972 (table 5). Th»
effects on year-to-year changes in PAC
spending were insignificant except for
1974; PAC spending after revision increased 2.8 percent in 1974 compared
with 0.5 percent previously.
Two components of total PAC spending were revised significantly. The first,
new plant and equipment for air and
water PA, is directly from the P&E
Survey. The P&E Survey collects
quarterly data on nonf arm business investment and related series five times
each year; additional annual data are
obtained in the fifth survey. The fifth
survey also includes questions on spending for air and water PA and solid waste
collection and disposal.
The October revision of series based
on the P&E Survey, mentioned earlier,
did not include spending for P&E for
PA and waste collection and disposal.
Revised estimates of PAC spending,
discussed in this article, incorporate preliminary revised all-industry totals for
spending for P&E for air and water
PA; final all-industry totals and industry detail are scheduled to be published
in June 1981. In the revised estimates
of P&E for PA, the coverage of certain
industries was refined and other industries were included for the first time—
real estate; professional services; social
services and membership organizations;
19 c
4
4
5
5
March 1981
Q 3
9 3
9 7
4 f5 4
10 6
10 5
10 6
r
Revised. » Preliminary.
1. Compounded annually; not calculated for chain because it is denned for adjacent years only.
before being extended an additional techniques of direct estimation (as in
year. Kevisions this year are moderate the taking of surveys), indirect estimain size compared with previous revi- tion (as in the use of diverse sources of
sions.
information and assumptions to bridge
Coverage refers to the comprehensive- data gaps), and deflation. Most of the
ness of the estimates. This year coverage statistical improvements incorporated
was expanded to be consistent with that this year were in current-dollar estimaof the Plant and Equipment (P&E) tion procedures and were made in order
Expenditures Survey, revised by BEA to be consistent with improvements in
in October 1980.1 Statistical refers to the P&E Survey. For 1978, the revisions
incorporated data not available when
1. See "Revised Estimates of New Plant and
Equipment Expenditures in the United States,
the
preliminary estimates were made.
1947-77," in the October 1980 SURVEY OF CURRENT
Upward
revisions were about $0.3 bilBUSINESS for details.
Table 4.—Federal Grants to State and Local Governments for Pollution
1972 r
Line
Total
Air
Water
1974 '
1973 '
Solid
waste
Other
and
unallocated
Total
Air
Water
Solid
waste
Other
and
unallocated
Total
Air
Water
Solid
waste
Other
and
unallocated
Millions of current dollars
1 Pollution abatement and control .
923
2
3
4
758
66
99
Pollution abatement
Regulation and monitoring
Research and development
.
56
821
15
(*)
39
17
755
21
44
3
3
10
31
(*)
2
28
1,057
916
76
65
49
975
13
(*)
43
6
913
30
33
3
2
9
19
2,242
53
2,172
8
2
18
2,112
91
39
(*)
45
7
2,110
44
18
1
2
5
18
1,906
45
1,845
7
° 2
17
1,794
78
34
(*)
39
6
1,793
37
16
1
1
4
(
*>
10
(*)
(
*>
9
Millions of constant (1972) dollars
5
6
7
8
Pollution abatement and control
Pollution abatement __
Regulation and monitoring . _
R esearch and development . _
"Revised.
'Preliminary.
923
758
66
99
*Less than $500,000.
56
(*)
39
17
821
755
21
44
31
15
3
3
10
(*)
2
28
983
851
71
61
46
(*)
40
6
906
848
28
31
12
2
2
8
9
(*)
(*)
8
SUEVEY OF CUEKENT BUSINESS
March 1981
and forestry, fisheries, and agricultural
services. Thus the revised estimates, like
those for total P&E, now cover all nonfarm business. Also, there were several
statistical improvements: company reports received too late for use in previously published estimates were incorporated; company reports were reclassified by industry and size of company to
reflect diversification, specialization,
expansion, or contraction over time;
sample data were re-edited to make
each industry as representative of the
universe as possible; and sample data
and revised total new plant and equipment expenditures for the universe were
used to re-estimate universe spending
for air and water PA.
The second component of total PAC
spending revised significantly, solid
waste collection and disposal, depends
on other sources in addition to the P&E
Survey. An indirect estimation procedure is applied. The revised spending
estimates are the result of re-application of this procedure using revised estimates of spending for the P&E portion and, for 1978, revised inputs from
other sources.
25
Table 5.—Sources of Revisions of Constant (1972) Dollar Spending for Pollution Abatement
and Control, 1972-78
[Millions of constant (1972) dollars]
Total pollution abatement and control
Year
1972
1973
1974 ...
1975
1976
1977
1978
Previously
published
_
_._
.__
18,582
20, 932
21,027
22,670
23,880
24,461
25,652
Revisions
Revised
Total
Coverage
Statistical
-362
-402
86
271
307
42
119
96
115
130
29
61
78
107
-458
-517
-44
242
246
-36
12
18,220
20,530
21, 113
22,941
24, 187
24,503
25,771
New plant and equipment for air and water pollution
abatement 1
1972
1973
1974
1975
1976
1977
1978
_.
—
.
.
-266
-290
44
297
304
140
263
3,931
4,733
4,303
4,589
4,502
4,317
4,012
_
.
3,665
4,443
4,347
4,886
4,806
4,457
4,275
-314
-348
0
272
267
111
238
48
58
44
25
37
29
25
Solid waste collection and disposal
1972
1973
1974
1975
1976
1977
1978
3,454
3,657
3,510
3,620
3,795
4,088
4,270
_
.
.
_
-.
_
-95
-131
54
-8
24
-84
-97
48
57
86
4
24
49
82
-143
-188
-32
-12
0
-133
-179
3,359
3,526
3,564
3,612
3,819
4,004
4,173
-1
19
-12
-18
-21
-14
-47
11, 196
12,561
13,202
14,443
15, 562
16,042
17,323
All other
1972
1973
1974
1975
1976
1977
1978
_
—
0
0
0
0
0
0
0
-1
19
-12
-18
-21
-14
-47
11, 197
12,542
13, 214
14,461
15, 583
16,056
17, 370
Real PA spending during 1972-79
1. Spending for this component includes that by electric utility cooperatives; in previous articles spending by these cooperatives was shown separately from new plant and equipment.
Spending for PA—the direct reduction of emissions of pollutants—accounts for most of PAC spending and
will be discussed below using classifications in Federal laws on pollution
abatement.2 The Clean Air Act classifies sources of pollutants as mobile, such
as passenger cars, and stationary, such
as factories. The Federal Water Pollution Control Act classifies sources as
point, such as factories, and nonpoint,
2. The Federal laws mentioned stimulated increased spending. However, all PA spending,
whether stimulated by other Federal laws or by
State and local laws and ordinances, is discussed
in this and other sections of this article.
that is, sources to which specific emissions are difficult to trace. The Resource
Conservation and Recovery Act refers
to solid waste management, an activity
broader than PA and involving generators, collectors, and disposers of solid
wastes. Estimates of spending for solid
Abatement and Control in Current and Constant (1972) Dollars
1979 9
1978'
1977'
1976 '
1975'
Other Line
Other
Other
Other
Other
and
and Total Air Water Solid and Total Air Water Solid
and Total Air Water Solid
and Total Air Water Solid
Total Air Water Solid
unallowaste
waste
unallowaste unallowaste unallowaste unallocated
cated
cated
cated
cated
Millions of current dollars
2,870
2,721
102
47
56
2,788
1 2,718
52
47
19
8
15 3,386
11
3
3
6
814
3,189
151
45
55
3,298
1 3,184
96
48
18
6
22 4,058
11
4
3
4
(*)
5
17
3,812
194
51
62
3,953
1 3,806
55
129
18
7
13
6
4
4
(*)
30 4,141
72
4,008
19
42 5,188
3,872
210
59
23
1 3,864
125
63
19
8
7
9
4
4,901
(*)
13 218
69
29
2,556
12
27 2,958
1 2,465
79
40
5
13
4
6
3
4,995
44
76
(*) 4,888
87
66
19
8
7
33
4
6
32
38
2,850
21
43
(*) 2,787
51
39
12
5
4
15
2
3
16
24
74
Millions of constant (1972) dollars
2,304
44
2,240
9
2,187
79
38
(*)
37
6
2,184
40
15
2
2
5
(*)
(*)
12 2,545
41 2,480
8
2,401
110
11
35
1 2,398
69
35
14
5
3
2
3
16 2,846
(*)
3
13
2,677
132
37
2,773
9
1 2,673
37
87
5
13
4
3
3
42
21 2,641
(*)
5
17
2,469
132
40
46
(*)
8
19
2,794
121
43
44
26
waste management and spending for
solid waste management for PA are
presented in this article for the first
time and are contrasted with estimates
for collection and disposal by means acceptable to public authorities.
Air.—Spending to reduce emissions
of pollutants from mobile sources increased each year during 1972-79 (table
6). This spending, which is almost entirely for passenger cars and trucks, increased at an average annual rate of
12.9 percent, to $5.1 billion in 1979. Most
of the absolute increase, $2.9 billion,
was to purchase devices to abate emissions from passenger cars and to operate such devices on trucks. Spending to
operate devices on cars decreased during
1972-79, reflecting the favorable effects
of catalytic devices on fuel economy and
of unleaded gasoline (required because
of such devices) on engine maintenance
costs. Most car manufacturers relied on
devices containing chemical catalysts beginning with model year 1975; these
devices accounted for over one-third of
the absolute increase. Noncatalytic devices were widely used for nitrogen
oxides reduction before the introduction of catalytic devices and continued
to be used because simple catalytic devices reduce only carbon monoxide and
hydrocarbon emissions. Noncatalytic
devices accounted for over one-fifth of
the absolute increase in spending during
1972-79. The estimates currently available of spending to operate abatement
devices on trucks indicate large spending increases each year during 1972-79.
These estimates require continued evaluation and improvement; evidence suggesting less spending is accumulating.
Spending to reduce emissions of pollutants from stationary sources increased in 1973,1975,1978, and 1979 and
decreased in other years during 1972-79.
It increased at an average annual rate
of 2.6 percent, to $4.4 billion in 1979.
Of the absolute increase of $0.7 billion,
about three-fourths was in spending to
operate industrial PA facilities, especially manufacturing facilities, and occurred after 1974. The remainder was
largely by manufacturing establishments to purchase air PA facilities.
Purchases of facilities were largely for
SUKVEY OF CUERENT BUSINESS
March 1981
Table 6.—Constant (1972) Dollar Spending for Abatement of Air Pollutant Emissions
From Mobile and Stationary Sources
[Millions of constant (1972) dollars]
1972
Total
. -
Mobile sources L
Devices _ __
Cars
Catalytic
Noncatalytic
Trucks
O peration«of devices. .
Cars
.
Fuel consumption
penalty
Other 2
Trucks
.
Stationary sources
Facilities
.
Industrial
Manufacturing
Nonmanufacturing
Other 3
Operation of facilities
Industrial
Manufacturing
N onmanuf acturing
Other 4
1975
1976
1977
1978
1979 v
7 078
7 304
8 493
8 872
8 950
9 210
9 485
2 196
701
588
2 869
1 008
3 315
1 070
'865
588
113
843
165
200
665
205
4 119
1 853
1 578
4 579
2 276
1*942
1 086
4 820
2 583
2 236
1 187
1 049
*347
5 033
2 715
2 352
1 204
1 148
5 127
2 853
2 489
1 266
1 223
364
365
1,495
1,348
1,861
1,658
2 245
1,886
1,072
2 303
1 668
1,042
2 237
1 475
2 318
1 404
2 274
1 228
692
656
147
843
o
884
774
203
2,307
1,046
1,261
4,209
2,882
2 804
1,452
1,352
86
78
1,253
1,177
1,327
1,257
3,646
2 S93
.
1974
5,843
o
....
1973
744
433
76
741
516
70
815
359
917
660
276
2 266
1 784
1,112
672
481
856
335
626
635
933
542
762
825
580
913
724
504
1 046
3 988
2,821
2 737
1,592
1,145
4,375
3,013
2 940
1,636
1,305
4 293
2,761
2 656
1 252
1,404
4 130
2 553
2 432
1 083
1 349
4 177
2 473
2 355
1 143
1,212
118
130
1,167
1,099
1,361
1,275
1,533
1,432
1,577
1,478
1,704
1,618
1,804
1,714
1,039
84
676
422
69
73
736
538
87
105
863
570
100
122
898
581
99
963
655
87
4 358
2,554
2 425
1 168
1,256
675
90
v Preliminary.
1. Excludes spending to reduce emissions from mobile sources other than cars and trucks; such spending was insignificant
during 1972-79.
2. Consists of maintenance costs and fuel cost increases due to lead-free gasoline requirement.
3. Consists of spending for fixed capital of government enterprises such as the Tennessee Valley Authority.
4. Consists of spending to operate government enterprises and all spending by government; separate data on spending to
purchase and spending to operate government pollution abatement facilities are not available.
additions to the gross capital stock
rather than for replacement. Accordingly, the gross stock increased (even
though spending to purchase facilities
decreased more often than they increased) and, except for 1974, increases
in spending to operate air PA facilities
followed.
Water.—Spending to reduce emissions of pollutants from point sources
increased in most years during 1972-79;
it decreased in 1977 and 1979 (table 7).
During 1972-78, it increased at an average annual rate of 5.9 percent, to $10.7
billion in 1978; spending was $0.2 billion less in 1979, and the average annual
increase during 1972-79 was 4.8 percent.
Of the absolute increase of $3.0 billion,
about two-thirds was in spending to
construct public sewer systems and private sewer connectors and spending to
operate such systems. The remainder
Table 7.—Constant (1972) Dollar Spending for Abatement of Water Pollutant Emissions
From Point Sources
[Millions of constant (1972) dollars]
1972
1973
1974
1975
1976
1977
Total
7,563
8,344
8,614
9,359
9,994
9,893
10, 688
10,511
Facilities
5,380
5,889
6,107
6,717
7,137
6,847
7,414
7,09'
1,358
1,638
1,610
1,946
1,001
2,151
1,177
2,025
1 168
1,919
1,76(
857
1,115
1,04'
Industrial
Manuf acturin g
Nonmanu facturing
Public sewer systems, private connectors to them,
and other
Public1 sewer systems and private connectors
Other
Operation of facilities
Industrial
Manufacturing
Nonmanufacturing
Public sewer systems, private connectors to them,
and other
Public2 sewer systems and private connectors
Other
804
554
1978
805
1979 »
71'
840
799
854
757
4,022
3,989
33
4,251
4,194
57
4,497
4,432
66
4,770
4,721
49
4,986
4,933
54
4,821
4,769
53
5,495
5,434
61
5,33'
5,27<
5t
2,184
2,455
2,507
2,642
2,858
3,046
3,273
3,42,
809
572
237
933
655
278
936
648
288
969
671
298
1,106
1,185
1,297
1,35,
817
369
891
407
92'
42*
1,375
1,124
251
1,523
1,237
286
1,572
1,264
308
1,673
1,304
369
1,751
1,413
339
1,861
1,542
319
1,976
1,676
300
2,06*
17K
315
945
974
760
346
p Preliminary.
1. Consists of spending by owner's of animal feedlots and spending for fixed capital of government enterprises such as the
Tennessee Valley Authority.
2. Consists of spending by owner's of animal feedlots, spending to operate government enterprises, and all spending by
government; separate data on spending to purchase and spending to operate government pollution abatement facilities are
not available.
SUKVEY OF CURRENT BUSINESS
March 1981
Table 8.—Constant (1972) Dollar Spending by Business and Government for Solid Waste
Collection and Disposal and Related Series
1972
1973
1974
1975
1976
1977
1978
1979 P
Line
Millions of constant (1972) dollars
1 Solid waste collection and disposal by means
acceptable to Federal, State, and local
authorities
_ - 2
3
4
Solid waste management
Pollution
abatement
Other 1 .
3,359
3,526
3,564
3,612
3,819
4,004
4,173
4,384
4,602
873
3,729
4,823
1,021
3,802
4,889
1,169
3,720
4,977
1,280
3,696
5,230
1,444
3,786
5,437
1,626
3,811
5,667
1,864
3,803
5,941
2,158
3,783
Percent change from preceding year
5
Solid waste collection and disposal by means
acceptable to Federal, State, and local
authorities
6
7
8
Solid waste management
Pollution abatement
Other »
_ _ _ _ _
5.0
1.1
1.3
5.7
4.8
4.2
5.1
4.8
17.0
2.0
1.4
14.5
-2.2
i.s
5.1
12.8
2.4
4.0
12.6
.7
4.2
14.6
-.2
4.8
15.8
-.5
9.5
-.6
p Preliminary.
1. Includes spending for the avoidance of the slowing of production or consumption activity due to the accumulation of
solid waste and for other purposes except pollution abatement.
was largely by nonmanufacturing establishments to purchase and operate
water PA facilities.
The decreases in 1977 and 1979 in
point-source spending for water PA
reflect decreases for facilities. Spending
by industry to purchase water PA facilities decreased in both years and also in
1974 and 1978. Spending to construct
public sewer systems and other facilities
decreased in 1977 and 1979 only. Even
though there were decreases, spending
for water PA facilities was largely for
addition to the gross capital stock rather
than replacement, and this resulted in
increases in spending to operate such
facilities each year during 1972-79.
Spending to reduce emissions of pollutants from nonpoint sources decreased
at an average annual rate of 2.0 percent
during 1972-79, to $0.6 billion in 1979.
Estimates of such spending are of
limited reliability because spending
data specific to nonpoint sources are
fragmentary.
Solid waste and other.—Spending
for solid waste collection and disposal
by means acceptable to Federal, State
and local authorities increased each year
during 1972-79 (table 8, line 1). It incroased at an average annual rate of 3.9
percent, to $4.4 billion in 1979. Levels of
spending for solid waste management
(line 2) and the portion for PA (line 3)
differ markedly each year from corresponding levels of spending for solid
waste collection and disposal by acceptable means. Year-to-year changes are
similar for the first two series; the
changes are markedly different in the
third series. The differences in levels for
any given year and in year-to-year
changes largely reflect differences in
definition.
Solid waste collection and disposal l>y
acceptable means is defined with respect
to two aspects: collection and disposal is
the gathering of solid waste to facilitate
processing, materials separation, storage, transportation, treatment, and ultimate disposal; acceptability is determined with respect to laws, administrative requirements, and court decisions as
implemented by Federal, State, and
local authorities. Solid waste management is the administration and performance of activities to reduce the generation of solid waste, to recycle by-products otherwise resulting in solid waste,
and to collect and dispose of solid waste.
Most solid waste management activities
serve several purposes. The purposes
may be classified generally as avoidance
of the slowing of production and con-
27
sumption activity due to accumulation
of solid waste, protection of public
health (including pollution abatement,
accident control, and disease control),
conservation of resources, and all other.
The last category consists of avoidance
of adverse effects on land values, public
nuisances, scenic blights, and other interferences with community life and development. Solid waste management for
pollution abatement is defined with respect to two aspects: solid waste management is defined above; pollution
abatement is the reduction or elimination of emissions of pollutants that is
brought about by human activity directed to this purpose.3
The "acceptable means" series has
been used in the past by some analysts
to estimate a "management" series and
by some to estimate an "abatement"
series; others have simply used the
"acceptable means" series without modification. This series is difficult to define
and measure; the criteria for acceptability vary over time and between localities. The availability of the two new
series diminishes the need for the "acceptable means" series. The "management" series is the least difficult to measure and is useful in studies of spending
for total residuals (gaseous, liquid,
solid) management. The "abatement"
series is most difficult to measure directly although indirect methods have
been developed; it is most useful in
studies of spending for pollution abatement and is consistent with estimates
of air and water PA in table 1. The substitution of the "abatement" series for
the "acceptable means" series in the
total series on PAC is currently under
review; such substitution was not possible earlier.
3. See "Conceptual and Statistical Issues in Developing Environmental Measures—Recent U.S. Experience," by John E. Cremeans, Review of Income
and Wealth, June, 1977 for further discussion of
the concept of pollution abatement.
By JOHN T. WOODWARD
Plant and Epipment Expenditures,
First and Second Quarters
and Second Half of 1981
INITED STATES nonfarm business plans to spend $325.7 billion for
new plant and equipment in 1981, 10.2
percent more than in 1980, according to
the BEA quarterly survey conducted in
late January and February (table 1
and chart 5).1 Spending in 1980 was
Table 1.-—Expenditures for New Plant and
Equipment by U.S. Nonfarm Business:
Percent Change From Preceding Year
1979
Actual
Total nonfarm
business.
Manufacturing
Durable goods
Primary metals »...
Blast furnaces,
steel works
Nonferrous metals
Fabricated metals .
Electrical machinery . _.
Machinery, except
electrical
Transportation
equipment 1
Motor vehiclesAircraft -_
Stone, clay, and
glass
.
. .
Other durables
198 0
Planned
Actual
1981
Planned
17.0
12.0
9.3
10 2
23.8
17.9
17 4
12 1
26.3
20 2
15 3
12 8
17.7
18.0
14.1
6.5
22.7
18.5
6.4
-.6
13.3
5.7
20.7
4.7
30.4
-3.0
15 3
9.9
28.0
38.5
31.8
25 7
45 9
12.6
10 2
20 6
27.5
15.0
63.8
28.6
17.8
49.0
18.5
9.1
33.4
5.6
.4
85
27.0
11.0
2.3
8.1
—3.0
20.8
2 1
16.0
Nondurable goods. . . 21.2
15.4
19.5
11.4
5.9
11.1
28.7
10.0
18.7
11.7
7.6
22.6
16.8
27 6
—20.2
27.1
7.1
6.2
—1 1
4.1
21 7
32 7
5.9
Food
including
beverage
Textiles
Paper..
Chemicals
Petroleum
Rubber
Other nondurables.
Nonmanufacturing
10.9
8.7
39.0
27.4
16 2
3.4
39.2
3.9
20.6
$295.6 billion, 9.3 percent more than in
1979.
Business also reported sales expectations for 1981. Manufacturing firms
expect a larger increase this year than
that realized last year; trade and public
utility firms expect smaller increases
(table 2).
1. Plans have been adjusted for biases (table 9,
footnote 1). The adjustments were made for each
industry. Before adjustment, plans for 1981 were
$134.38 billion for manufacturing and $186.81 billion for nonmanufacturing. The net effect of the
adjustments was to lower manufacturing $4.53 billion and to raise nonmanufacturing $9.07 billion.
CHART 5
Changes in
Business Investment
Table 2.—Change in Business Sales: Percent Change From Preceding Year
Miscellaneous
Transportation
Communication
and Other
Durable Goods
Manufacturing
Nondurable Goods
Manufacturing
Gas, Water, and
Sanitary Services
8.7
4.7
8.9
11.5
15.7
15.7
29.7
18.7
16.3
12.1
21 5
15.4
18.7
-2.1
5.6
1
—11 3
17.4
6.5
3.4
25
14.1
Public utilities
Electric
Gas and other
13.4
12.3
18.5
2.5
12
8.3
4.4
17
16.1
8.0
76
9.6
Railroad
Trade and services.. . 15.4
Communication and
other
8.8
9.7
3.2
6.3
Air Transportation
6.4
6.2
13.4
28
Electric Utilities
Trade and Services
Manufacturing
1981
Expected
13.1
10.4
6.3
12.3
Durable goods 2
Primary metals
Fabricated metals.
Electrical
machinery
Machinery, except
electrical __
Transportation
equipment
Stone, clay, and
glass
11.2
16.4
13.8
9.2
7.7
9.8
1.7
-1.5
1.8
12.2
10.8
11.6
12.2
13.5
11.5
10.8
15.0
11.2
7.4
12.6
3.0
5.8
—7.9
15.9
9.8
7.9
2.7
9.7
Nondurable goods 2 _.
Food
including
beverage
Textiles
Paper
Chemicals
Petroleum
Rubber
15.1
11.7
11.4
12.4
10.8
6.9
14.5
18.0
29.4
12.1
11.1
7.9
9.9
12.6
17.2
10.1
7.3
3.8
7.5
8.9
31.0
-1.7
9.6
9.5
12.5
13.6
18.1
10.9
13.8
8.1
9.2
8.5
Wholesale
Retail
17.1
10.6
8.8
7.4
11.8
6.6
9.6
7.3
Public utilities
11.2
16.7
19.7
13.9
Trade
U.S. Department of Commerce, Bureau of Economic Analysis
1980
ExActual pected l Actual
Mining
Mining
Transportation .. ..
Railroad
Another .
1. Includes industries not shown separately.
1979
TOTAL NONFARM
BUSINESS
13.4
5.0
The plant and equipment spending
estimates are not adjusted for price
change. Capital goods prices, as measured by the implicit price deflator for
nonresidential fixed investment in the
national income and product accounts,
increased about 9 percent in 1980, indicating that 1980 real spending on
plant and equipment showed little
change from 1979. If survey respondents expect capital goods prices to increase this year at about the same rate
as last year and incorporated such expectations into their 1981 spending
plans, an increase in real spending of
about 1 percent is indicated.
Spending increased 1.1 percent in the
fourth quarter of 1980, following
1. Expectations for 1980 are based on the survey conducted in late January and February 1980.
2. Includes industries not shown separately.
SURVEY OF CURRENT BUSINESS
March 1981
smaller increases of 0.8 percent in the
second quarter and 0.6 percent in the
third. Fourth-quarter spending was
larger than plans reported in the survey
three months earlier; those plans indicated a 0.4-percent decline in the fourth
quarter.
Plans for 1981 spending indicate an
CHART 6
Starts and Carryover of Investment
Projects
Billion $ (Ratio scale)
100
80
MANUFACTURING
60
Carryover'
40
30
20
15
10
8
increase of 3.5 percent in the first quarter and 2-. 3 percent in the second. Spending plans are not reported on a quarterly basis for the second half. However,
the implied average quarterly increase
is about 4 percent.
The latest plans for 1981 spending are
$0.4 billion lower than those indicated
in the annual survey conducted in November and December and reported in
January. That survey showed planned
spending of $326.1 billion, 10.8 percent
above the estimate of 1980 spending
based on the quarterly survey conducted
in October and November and reported
in December. Spending in 1980 reported
in the January-February survey was
$1.3 billion higher than reported in that
earlier survey. Thus, the smaller yearto-year increase indicated by the current survey primarily reflects the upward revision in 1980 spending programs rather than the downward revision in 1981 plans.
Spending for new plant increased 2.3
percent in the fourth quarter, to an annual rate of $120.3 billion; spending for
29
Table 4.—Planned and Actual Expenditures
for New Plant and Equipment: Percent
Change From Preceding Year
1970
1971
1972
1973
1974
Planned l
Actual
10.0
6.1
12.7
14.0
11.4
6.1
2.8
10.8
14.5
14.0
1.9
8.1
12.2
12.4
12.6
.5
8.7
15.5
16.7
17.0
12.0
10.2
9.3
.
_ _
_
1975
1976
1977
1978
1979
_
-
1980
1981
1. Plans are based on BE A surveys conducted in January
and February.
new equipment increased 0.4 percent, to
$179.3 billion (table 3). Spending for
new plant was 40.1 percent of total capital expenditures in the fourth quarter
and spending for new equipment was
59.9 percent.
Experience since 1970 indicates that
spending plans reported in the JanuaryFebruary surveys differed from actual
spending by an average of about 2l/£
percentage points (table 4). Plans
understated actual spending in 6 of the
Table 3.—Expenditures for New Plant and for New Equipment by U.S. Nonfarm Business
[Billions of dollars; quarters seasonally adjusted at annual rates]
1979
76
78
80
III
IV
I
II
III
IV
255.55
102. 58
152. 97
265. 24
104. 19
161. 04
273. 15
106. 58
166. 56
284.30
108. 60
175. 70
291.89
115. 96
175. 93
294. 36
116. 50
177. 86
296. 23
117. 59
178. 64
299.58
120. 27
179. 32
98.68
30.82
67.86
115.81
36.06
79.76
90.75
29.65
61.10
94.71
29.94
64.77
100.11
31.39
68.71
106. 57
31.82
74.76
111.77
33.83
77.94
115.69
36.35
79.35
116.40
37.09
79.31
118.63
36.89
81.74
Durable goods
Plant .
Equipment.
51.07
14.00
37.07
58.91
16.28
42.63
46.38
12.88
33.50
49.25
13.66
35.59
52.13
14.12
38.01
55.03
14.89
40.14
58.28
16.48
41.79
59.38
16.99
42.38
58.19
16.72
41.47
59.77
15.27
44.50
Nondurable goods..
Plant
Equipment.
47.61
16.83
30.78
56.90
19.78
37.12
44.37
16.77
27.60
45.47
16.28
29.19
47.97
17.27
30.70
51.55
16.93
34.62
53.49
17.35
36.14
56.32
19.35
36.96
58.21
20.37
37.83
58.86
21.62
37.24
171. 77
74.90
96.87
179.81
81.49
98.32
164. 80
72.93
91.87
170. 52
74.25
96.27
173. 04
75.19
97.85
177. 73
76.78
100. 95
180. 13
82. 13
98.00
178. 66
80.15
98.51
179.83
80.50
99.33
180.95
83.37
97.58
Mining
Plant-Equipment .-
11.38
5.75
5.63
13.51
7.75
5.76
11.23
5.38
5.85
11.01
5.36
5.65
11.40
5.85
5.55
11.86
6.36
5.51
11.89
6.52
5.37
12.81
7.11
5.70
13.86
8.20
5.66
15.28
9.01
6.27
Transportation
Plant .
Equipment
12.35
2.75
9.60
12.09
2.99
9.10
11.43
2.56
8.87
12.02
2.71
9.32
12.67
2.81
9.87
13.20
2.87
10.32
12.47
3.22
9.25
12.09
2.93
9.16
12.23
2.95
9.28
11.70
2.96
8.73
Public utilities- .
Plant
Equipment
33.96
21.61
12.35
35.44
23.00
12.44
32. 40
20.56
11.84
34.02
21.70
12.33
35.05
22.62
12.43
34,08
21.41
12.67
36.26
23.64
12.62
35.03
22.55
12.48
35.58
22.66
12,92
34.96
23.10
11.86
Trade and Services ._
Plant
Equipment
79.26
32.39
46.87
81.79
35.23
46.56
76.03
32.06
43.97
79.03
31.98
47.05
78.86
31.72
47.14
82.69
33.68
49. 00
82.17
36.13
46.04
81.07
34.30
46.77
81.19
34.10
47.08
82.91
36.57
46.35
Communication and other 1
Plant
E quipinent
34.83
12.41
22.42
36.99
12. 52
24.46
33.71
12.37
21.34
34.44
12.52
21.92
35.05
12.19
22.86
35.90
12. 46
23. 44
37.34
12.62
24.72
37. 66
13.26
24.40
36.97
12.59
24.38
36.11
11.73
24.38
Nonmanufacturing
Plant..
Equipment -
74
II
295. 63
117. 55
178. 08
Manufacturing
Plant
Equipment
Seasonally Adjusted
I
270. 46
105. 73
164. 73
Total nonfarm business
Plant .
Equipment
...
72
19 30
19 79
1980
"Carryover as of end of period.
U.S. Department of Commerce, Bureau of Economic Analysis.
1. Includes construction; social services arid membership organizations; and forestry, fisheries, and agricultural services.
SUEVEY OF CUKKENT BUSINESS
30
Realization of 1980 plans.—Actual
spending in 1980 was 2^ percent less
than had been planned early last year;
downward revisions occurred primarily
in the nonmanufacturing industries.
The major reductions in spending programs occurred in the transportation
and in the trade and service industries.
In manufacturing, spending was
smaller than planned in durable goods,
but nondurable goods industries raised
their plans during the year.
Table 5.—Petroleum Industry Expenditures
for New Plant and Equipment by Function
Billions of dollars
Actual
Total .
1979
1980
16.21
20.69
Planned
1981 i
Percent change
from preceding
year
1980
1981
25.17
27.6
21.7
Production
Transportation. .
8.31
.73
11.29
1.01
13.37
1.11
35.8
39.0
18.4
9.5
Refining and
petrochemicals.
Marketing
4.26
.76
4.61
.91
5.75
.80
8.2
19.5
24.6
-12.0
Other
2.14
2.85
4.13
33.4
44.9
March 1981
CHART 7
Manufacturers' Capacity Utilization Rates
by Major Industry Groups
Percent
92
ALL MANUFACTURERS
88
84
80
76
72
92
, Nondurable Goods
88
Manufacturing Programs
1. The reported plans are adjusted for biases when
necessary; adjustments are applied separately to expenditures for each function. Before adjustments, plans
for 1981 were $27.10 billion.
84
Manufacturers' spending increased 2
percent in the fourth quarter of 1980 to
11 years and overstated spending in 5 an annual rate of $118.6 billion, followyears. The 1981 spending plans reported ing a one-half of 1 percent increase in
in the latest survey may be more tenta- the third. Durables increased 2*/& pertive than usual. Most of the survey re- cent and nondurables, 1 percent. Manusponses were prepared before the Presi- facturers plan increases of 2 percent in
dent outlined his economic programs in the first quarter of 1981 and 4i/£ permid-February. Also, there is still un- cent in the second. The planned increase
certainty about specific aspects of the in the first quarter is larger in durables;
proposed programs and the extent to in the second quarter, it is larger in nonwhich Congressional actions will durables. Both groups also plan inmodify them.
creases from the first to the second half:
80
76
72
92
^Primary-Processed
88
84
80
76
72
1970
72
74
76
78
80
Seasonally Adjusted
U.S. Department of Commrce, Bureau of Economic Analysis
Table 6.—Starts and Carryover of Plant and Equipment Projects, Manufacturing and Public Utilities
[Billions of dollars]
Carryover 2
Starts i
1978
1979
1979
I
II
I
III
IV
88.16 112.98 123.32 26.83 26.54 26.36 33.26 31.35 29.92
Durable goods 3
46.20 59.18 57.67 14.31 15.32 13.71 15.84 15.31 13.21
Primary metals
5.83 7.72 7.91 1.94 2.12 1.65 2.01 2.42 1.36
Electrical machinery
6.27 8.16 10.25 1.86
2.25
1.90
2.78
2.15
2.53
Machinery, except electrical. __ 7.71 12.66 10.72 3.34 3.05
3.26
3.00
2.98
2.18
15.62 19.01 16.50 4.12 5.53 3.84 5.53 4.08 4.08
Transportation equipment
Stone, clay, and glass
3.87 3.70 3.46 1.32
.75
.75
.84
.87
1.08
27.26
34.79
13.39
1.94
2.33
2.52
3.53
.51
15.76
2.20
2.62
3.03
4.80
1.02
Nondurable goods 3
Food including beverage
Paper
Chemicals
Petroleum
13.87
1.77
1.45
3.07
5.81
19.02
2.26
2.26
3.44
8.46
III
IV
II
Manufacturing
Public utilities
41.96
6.32
4.41
8.47
14.93
38.74
53.80
7.49
6.67
12.34
18.26
21.67
1980
1979
1980
1980
65.65
7.41
7.74
14.01
26.63
43.69
12.52
1.84
1.79
2.74
4.55
9.27
11.22
1.64
1.80
2.72
2.47
1.04
12.65
1.37
1.45
3.36
3.81
5.50
17.42
2.65
1.63
3.53
7 A3
5.86
16.03
1.40
1.97
4.10
5.69
19.96
16.72
1.98
2.06
3.41
6.68
7.67
1.92
14.14
June
Sept.
Dec.
Mar.
June
Sept.
68.23
71.08
72.51
75.35
36.61
7.29
4.46
6.64
11.56
2.63
36.72
83.66
37.90
82.85
35.89
82.60
39.49
81.94
32.88
36.80
35.48
7.10
4.08
6.41
12.63
2.27
7.91
4.78
6.83
12.82
2.45
7.36
5.35
6.15
12.18
2.28
7.23
5.33
5.92
11.24
1.89
7.30
4.74
5.54
10.97
1.92
35.35
35.19
4.47
5.35
8.83
12.03
35.90
38.63
43.11
4.84
5.91
11.01
15.86
45.76
45.14
4.80
6.04
11.08
18.15
47.38
4.85
6.30
11. 23
17.80
126.35
Mar.
6.85
3.69
5.70
9.94
2.96
4.54
4.87
8.72
13.23
132.47
7.40
4.01
6.14
11.79
2.69
4.27
5.42
9.49
11.76
4.96
5.30
9.57
14.11
124. 92
121. 62
118. 10
130.05
128.88
121.83
Dec.
4.98
6.23
10.99
20.06
Seasonally adjusted
27.57
25.85 26.82
32.53 32.43 29.41
27.74
33.53
67.82
70.00
71.79
77.67
82.16
82.65
81.29
85.16
Durable goods
_
Primary metals
__.
Electrical machinery
Machinery, except electrical _Transportation equipment
Stone, clay, and glass
14.60
2.02
1.83
3.37
4.28
1.28
14.43
2.10
1.92
2.92
4.84
.65
14.22
1.68
2.23
3.26
4.09
.91
15.92
1.87
2.06
3.14
5.86
.82
15.70
2.56
2.50
2.97
4.30
1.05
12.39
1.37
2.79
2.06
3.33
.74
13.94
1.94
2.57
2.52
3.83
.59
15.48
2.08
2.39
3.12
4.92
1.07
32.84
34.96
38.31
7.29
4.39
6.71
13.20
2.41
36.99
36.38
36.92
7.29
3.89
6.01
11.32
2.62
36.14
7.26
4.40
6.48
11.42
2.58
39.44
6.81
3.61
5.71
10.06
2.95
7.85
4.68
6.84
12.99
2.44
7.27
5.17
6.02
11.69
2.21
7.21
5.25
5.78
11.14
1.86
7.50
5.11
5.81
11.42
2.03
Nondurable goods 3
Food including beverage
Paper
Chemicals
Petroleum
12.97
2.02
1.78
2.99
4.49
11.42
1.63
1.81
2.59
3.01
12.60
1.42
1.56
3.23
3.73
16.60
2.41
1.51
3.48
6.90
16.73
1.61
1.97
4.43
5.66
17.02
1.97
2.08
3.28
7.44
13.80
1.83
1.59
2.91
5.65
18.04
1.99
2.10
3.48
7.73
34.99
35.04
35.65
39.36
42.72
45.66
4.50
4.80
8.80
12.85
4.48
5.26
8.77
12.15
4.29
5.43
9.24
11.87
Manufacturing
3
Public utilities
_ .
.95
6.35
7.73
6.33
12.01
1. Starts are estimated by adding changes in carryover to expenditures during the given
period.
12.96
4.20
14.88
126. 96
124.80
123. 76
4.80
5.82
11.10
15.38
4.87
6.19
11.16
18.03
44.91
4.83
6.06
10.77
18.32
48.24
4.98
5.45
9.82
14.24
121. 58
124.53
128.72
124.03
130. 16
5.00
6.41
11.28
20.22
2. Carryover refers to expenditures yet to be incurred on plant and equipment projects
already underway at the end of the period.
3. Includes industries not shown separately.
SURVEY OF CURRENT BUSINESS
March 1981
31
Table 7.—Manufacturers' Capacity Utilization Rates: Operating Rates and Ratios of Operating to Preferred Rates '
[Seasonally adjusted]
Operating rates (percent)
Industry and asset size
1979
Mar.
AH manufacturing
.
Asset size:
$100.0 million and over
$10.0 to $99.9 million
Under $10.0 million
_ __.
Durable goods 2
Asset size :
$100.0 million and over
$10.0 to $99.9 million
Under $10.0 million
_
.
- --
Primary metals
Electrical machinery
Machinery except electrical3
Transportation equipment
._
Motor vehicles
Aircraft
Stone clay and glass
_ -_
--
Nondurable goods ^
Asset size:
$100.0 million and over.
$10 0 to $99 9 million
Under $10.0 million
Food including beverage
Textiles
Paper
Chemicals
Petroleum
Rubber
Primary-processed goods 6
Advanced-processed goods
6
_ _
-
-
-
-
-
-
- _ __ .
June
1980
Sept.
Dec.
Mar.
June
1979
Sept.
Mar.
Dec.
1980
June
Sept.
Dec.
Mar.
June
Sept.
Dec.
84
83
82
81
80
76
76
78
0.90
0.89
0.87
0.86
0.86
0.81
0.81
0.84
87
82
76
86
81
76
84
81
75
82
81
75
82
79
74
77
77
70
77
78
71
80
78
72
.92
.88
.83
.91
.87
.83
.88
.87
.82
.87
.88
.82
.87
.85
.80
.82
.83
.77
.82
.84
.78
.85
.84
.79
85
84
82
80
80
74
75
78
.90
.88
.86
.85
.84
.79
.79
.83
88
81
75
87
79
76
84
79
75
81
79
75
82
77
73
75
73
70
76
74
71
80
75
72
.92
.86
.81
.91
.85
.82
.87
.85
.82
.85
.86
.82
.86
.83
.79
.79
.79
.77
.80
.80
.78
.84
.81
.78
87
84
92
87
96
74
78
87
82
92
83
89
75
82
83
82
91
78
78
77
79
80
81
89
74
72
77
83
82
82
91
74
70
79
75
69
78
89
67
60
78
71
66
79
89
71
67
78
73
77
79
90
74
70
80
74
.92
.93
.97
.88
.92
.80
.84
.93
.90
.97
.84
.86
.82
.88
.88
.90
.96
.79
.76
.83
.85
.85
.89
.94
.76
.71
.84
.90
.87
.90
.96
.76
.69
.85
.81
.74
.85
.95
.69
.60
.84
.78
.70
.86
.94
.73
.66
.85
.80
.83
.86
.96
.75
.70
.86
.81
83
82
82
82
81
78
78
78
.89
.89
.88
.88
.87
.84
.84
.85
86
82
78
85
83
76
85
83
75
84
84
75
83
82
75
80
80
71
80
81
71
80
81
72
.92
.89
.84
.91
.89
.84
.91
.89
.82
.90
.90
.82
.89
.88
.82
.86
.86
.77
.86
.87
.78
.87
.86
.79
79
85
91
83
89
87
81
82
91
82
88
76
78
83
92
83
88
76
79
82
91
83
86
70
77
82
88
82
85
72
77
79
86
76
82
65
76
79
87
78
76
72
75
80
89
78
80
70
.86
.89
.94
.91
.92
.92
.90
.86
.94
.90
.92
.80
.87
.85
.96
.91
.90
.81
.87
.85
.95
.91
.88
.75
.85
.86
.91
.89
.88
.77
.84
.81
.89
.82
.86
.70
.85
.82
.91
.85
.81
.77
.84
.84
.92
.86
.83
.75
85
84
84
83
83
81
83
80
81
80
75
76
74
77
78
78
.90
.89
.89
.88
.83
.86
.87
.85
.86
.85
.80
.81
.79
.83
.84
.83
1. The survey asks manufacturers to report actual and preferred rates of capacity utilization
for the last month of each quarter. Utilization rates for industry and asset-size groups are
weighted averages of individual company rates. See "The Utilization of Manufacturing Capacity, 1965-73," SURVEY OF CURRENT BUSINESS, July 1974, p. 47.
2. Also includes lumber, furniture, fabricated metals, instruments, and miscellaneous.
3. Also includes other transportation equipment.
11 percent in durables and 6^ percent
in nondurables.
Manufacturers plan to spend $129.8
billion in 1981, 12 percent more than
they spent in 1980; they increased
spending 17^ percent last year. Durables and nondurables plan increases of
18 percent and 11% percent, respectively. The largest increases in durables
are planned by electrical machinery,
25% percent; nonelectrical machinery,
201/2 percent; "other durables," 16 percent; and nonferrous metals, 15% percent. Most other durables industries except iron and steel plan smaller increases; iron and steel plans a slight
decline. In nondurables, the largest increases are in rubber, 32% percent, and
petroleum, 21% percent. Petroleum
companies are planning large increases
for nonpetroleum activities as well as
production and refining of petroleum
products (table 5). Food-beverage, tex
Ratios of operating to preferred rates
4. Also includes tobacco, apparel, printing-publishing, and leather.
5. Consists of lumber; stone, clay, and glass; primary metals; fabricated metals; textiles;
paper; chemicals (at Vv weight); petroleum; and rubber.
6. Consists of furniture, electrical machinery, machinery except electrical, motor vehicles,
aircraft, other transportation equipment, instruments, food including beverage, tobacco,
apparel, printing-publishing, chemicals (at K weight), leather, and miscellaneous.
Table 8.—Manufacturers' Evaluation of Their Plant and Equipment Facilities l
[Percent distribution of gross depreciable assets]
1980
1979
Mar. 31
June 30
Sept. 30
Dec. 31
Mar. 31
June 30
Sept. 30
Dec. 31
35.5
36 5
37 2
35 9
22 5
44.1
38 5
47.4
43.0
35.5
32.9
17 8
43.5
37.9
44.7
44.9
32.0
29.1
41.4
34.9
40.8
41.9
32.0
29.0
10.5
40.6
34.9
41.5
41.9
30.6
26.8
10.5
36.3
34.3
43.0
39.6
58.7
57.1
70.8
48.5
60.1
49.6
56.9
59.0
57.3
73.2
48.5
60.7
50.9
56.5
60.8
59.8
72.6
53.8
62.0
49.4
59.5
More plant and equipment needed :
All manufacturing.
Durable goods 2
Primary metals3
Metal products
Nondurable goods 2
Food including beverage
Chemicals and petroleum
33.1
17 2
39.9
37.9
39.7
43.0
43.4
38 4
43.1
43.0
37 1
35 5
19 5
44.7
38 6
45.7
43 1
59.7
62. 6
77.1
56.5
56.8
54.7
51.4
59.3
60 1
77.3
51.7
58.3
50.0
55.7
58.1
57 6
75.0
49.1
58.7
47.0
56.3
57.8
57.0
71.6
49.2
58.7
44.4
56.5
58.1
57 9
76.1
48 6
58.4
47 4
54.1
4.8
4.3
5.7
3.6
5.3
5.6
5.6
4.2
5.3
5.4
4.9
3.3
6.9
1.3
4.8
6.9
5.5
6.2
2.7
7.3
.6
5.0
7.1
5.9
6.7
2.8
8.2
.5
6.4
9.2
6.1
7.9
3.7
7.9
1.0
34.6
17 3
9.9
About adequate:
AH manufacturing
Durable goods 2
Primary metals 3 __ ...
Metal products
Nondurable goods 2
Food including beverage
Chemicals and petroleum
Existing plant and equipment exceeds
needs:
All manufacturing
Durable goods 2
Primary metals.3
_
Metal products
Nondurable goods 2
Food including beverage
Chemicals and petroleum
9.3
13.8
19.3
10.1
5.0
9.6
1.2
9.0
13.7
16.3
10.9
4.4
7.6
1.6
8.6
13.4
16.9
9.9
3.7
7.6
.9
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.
SUEVEY OF CUEKENT BUSINESS
32
Capacity utilization
The utilization of manufacturing capacity was 78 percent in December, a
2-point increase from September and
June (table 7 and chart 7). The increase
was in durable goods industries, with
the largest increase in primary metals.
The increase from September to December followed a decline from 84 percent
in March 1979 to 76 percent in June and
September 1980.
In durable goods, the utilization rate
for primary metals increased 11 points
from September to December, to 77 percent. Motor vehicles increased 3 points,
to 70 percent, and aircraft increased 2
points, to 80 percent. Nonelectrical machinery and stone-clay-glass each in-
tiles, "other nondurables," and chemicals plan increases between 4 and 7 percent. Paper plans a 1-percent decline.
Manufacturing projects started in the
fourth quarter of 1980 totaled $33.5 billion, a 21-percent increase from the
third quarter (table 6 and chart 6). The
increase was larger in nondurables, 31
percent, than in durables, 11 percent;
sizable increases were reported by petroleum, chemicals, and paper. In the
fourth quarter, the value of projects
started was larger than spending so that
carryover increased. At the end of December, carryover was $85.2 billion,
$3.9 billion more than at the end of
December.
March 1981
creased 1 point, to 90 percent and 74
percent, respectively. In nondurable
goods, petroleum increased 4 points, to
80 percent, following a 6-point drop
from June to September. Paper increased 2 points, to 89 percent. Eubber
declined 2 points, to 70 percent, and
food-beverage 1 point, to 75 percent.
The utilization rate for primaryprocessed goods industries increased 4
points, to 78 percent; the rate for advanced-processed goods increased 1
point, to 78 percent. The rate for largesized firms increased 3 points, to 80 percent. Medium-sized firms were unchanged at 78 percent, and small firms
increased 1 point, to 72 percent.
Manufacturing companies owning
Table 9.—Expenditures for New Plant and Equipment by U.S. Nonfarm Business *
[Billions of dollars]
Seasonally adjusted at annual rates
Seasonally unadjusted
1979
1980
1981 i
III
Total Nonfarm business
Manufacturing
1980
1979
IV
I
II
III
IV
Ii
Hi
1980
1979
1981
2nd
Halfi
in
IV
I
II
1981
III
IV
Ii
Hi
2nd
Halfi
270.46 295.63 325.72 68.39 77.99 65.18 74.02 74.12 82.31 69.26 79.73 176. 72 273.15 284.30 291.89 294. 36 296.23 299.58 310. 10 317.29 336.21
98.68 115.81 129.85 24.93 30.42 24.10 28.86 28.98 33.87 26.18 31.57
72.10 100. 11 106.57 111.77 115. 69 116.40 118.63 121. 17 126.68 134.68
Durable goods 2
51.07
Primary metals
6.76
Blast furnaces, steel works 3.09
Nonferrous metals
_
2.39
Fabricated metals
3.05
Electrical machinery _
7.28
Machinery, except electrical2 - 10.52
Transportation equipment . 15. 32
Motor vehicles
8.30
Aircraft
5.27
Stone, clay, and
glass.
.
3.94
Other durables 3
4.22
58.91
7.71
3.29
3.11
2.96
9.59
11.59
18.16
9.06
7.03
3.82
5.09
66.47 12.99 15.73 12.54 14.79 14.49 17.09 13.31 15.89
8.20 1.77 2.20 1.60 1.91 2.07 2.13 1.56 1.98
3.27
.82 1.13
.72
.86
.84
.88
.60
.73
3.59
.72
.92
.85
.93
.69
.57
.72
.61
3.25
.75
.76
.67
.76
.78
.60
.75
.88
12.05 1.70 2.63 1.83 2.21 2.35 3.20 2.03 2.62
13.98 2.77 3.23 2.55 2.87 2.75 3.42 2.92 3.42
19.18 4 06 4.47 3.89 4.72 4.47 5.07 4.02 4.68
9.10 2.18 2.31 2.00 2.40 2.21 2.46 2.02 2.37
7.62 1.41 1.80 1.50 1.79 1.73 2.00 1.53 1.72
3.90
.90 1.01
.90 1.00
.84
.94 1.10
.95
5.91 1.00 1.22 1.09 1.33 1.19 1.48 1.34 1.49
37.28
4.66
1.94
1.98
1.90
7.41
7.64
10.48
4.71
4.38
2.10
3.07
52.13
6.83
3.21
2.28
3.06
7.22
11.16
15.96
8.77
5.45
3.89
4.03
55.03
7.37
3.60
2.47
3.06
8.31
11.66
16.34
8.80
6.06
3.98
4.32
58.28
7.98
3.74
2.92
3.14
8.83
11.36
18.06
8.98
7.35
4.06
4.84
59.38
7.84
3.58
2.91
2.97
9.20
11.51
18.50
9.00
7.44
3.91
5.45
58.19
8.02
3.29
3.39
3.05
9.97
11.05
17.54
8.88
6.70
3.74
4.81
59.77 61.67
7.17
7.73
2.80
3.10
3.32
3.18
2.72
2.79
10.10
9.75
12.36 13.01
18.58 18.64
9.35
9.07
6.73
7.48
3.61
3.80
5.22 5.94
63.84
8.12
3.07
3.70
2.99
10.92
13.69
18.31
8.91
7.12
3.67
6.14
69.53
8.40
3.42
3.63
3.55
13.41
14.54
19.78
9.20
7.87
4.06
5.79
Nondurable goods.
_
47.61
Food including beverage
6.62
Textiles..
_
1.50
Paper
_ .- 5.55
Chemicals
10.78
Petroleum
_ _ _. 16.21
Rubber
2.17
Other nondurables 4 . _ _ - 4.78
56.90
7.39
1.62
6.80
12.60
20.69
1.73
6.08
63.38 11.94 14.69 11.56 14.06 14.50 16.78 12.87 15.68
7.92 1.57 1.96 1.52 1.97 1.82 2.09 1.64 1.89
1.72
.42
.41
.39
.39
.41
.40
.40
.40
6.73 1.38 1.76 1.37 1.66 1.71 2.07 1.29 1.51
13.11 2.69 3.45 2.66 3.19 3.22 3.52 2.71 3.29
25.17 4.08 5.08 3.94 4.75 5.45 6.55 5.10 6.39
2.30
.54
.41
.45
.45
.57
.44
.43
.57
6.43 1.28 1.47 1.27 1.64 1.45 1.70 1.29 1.63
34.83
4.39
.94
3.92
7.11
13.68
1.28
3.51
47.97
6.43
1.60
5.58
11.03
16.05
2.16
5.14
51.55
6.86
1.62
5 95
11.64
18.13
2.07
5.27
53.49
7.14
1.63
6.40
12.60
18.06
1.84
5.82
56.32
7.61
1.60
6.82
12.87
19.16
1.73
6.52
58.21
7.46
1.53
6.92
13.19
21.45
1.83
5.82
58.86
7.29
1.72
6.99
11.87
23.30
1.57
6.12
62.84
7.34
1.54
6.21
13.27
25.77
2.23
6.47
65.15
8.27
1.87
7.22
13.12
25.58
2.45
6.64
Nonmanufacturing
59.51
7.70
1.60
6.06
12.85
23.37
2.03
5.89
171.77 179.81 195.87 43 47 47.57 41.08 45.16 45.13 48.44 43.08 48.16 104.62 173.04 177.73 180. 13 178.66 179. 83 180.95 188.93 190.61 201.53
Mining
11.38
13.51
15.87
2.87
3.11
2.74
3.27
3.50
4.01
3.54
3.97
8.36
11.40
11.86
11.89
12.81
13.86
15.28
15.36
15.57
16.24
Transportation
Railroad
Air
Other
12.35
4.03
4.01
4.31
12.09
4.25
4.01
3.82
12.87
4.40
4.11
4.36
3.13
1.04
.91
1.18
3.45
1.12
1.10
1.23
2.73
.99
.90
.84
3.31
1.06
1.27
.98
3.00
1.00
.93
1.07
3.05
1.20
.91
.94
2.63
.86
.94
.83
3.21
1.17
.99
1.05
7.04
2.37
2.19
2.48
12.67
4.13
3.95
4.60
13.20
4.24
4.55
4.41
12.47
4.46
3.90
4.11
12.09
4.06
4.27
3.76
12.23
3.98
4.06
4.18
11.70
4.54
3.77
3.39
12.00
3.87
4.07
4.06
11.83
4.46
3.32
4.05
13.85
4.59
4.64
4.63
Public utilities
Electric..
Gas and other
33.96 35.44
27.65 28.12
6.31 7.32
38.27
30.24
8.03
8.80
7.03
1.77
9.38
7.42
1.96
8.01
6.64
1.37
8 84
7.07
1.77
8.97
6.89
2.08
9.62
7.53
2.10
8.13
6.62
1.51
9.49
7.41
2.08
20.65
16.21
4.44
35.05
28.71
6.35
34.08
27. 16
6.92
36. 26
28.98
7.28
35.03
27.91
7.12
35.58
28.14
7.44
34.96
27.54
7.41
36.89
28.90
7.99
37.65
29.26
8.39
39.18
31.30
7.88
Trade and services
Wholesale and retail trade
Finance, insurance, and real
estate
Personal, business, and proservices
79.26
22.61
86.93 19.87 22.01 19.08 20.23 20.38 22.09 19.59 21.03
5.76 6.38 5.29 5.54 5.48 5.47
46.32
78.86
22.52
82.69
23.66
82,17
22. 34
81.07
23.28
81.19
21.43
82.91
20.25
84.33
84.17
89.38
8.98
29.53
31.54
31.56
30.82
31.82
33.55
26.82
27. 49
28.28
26.97
27.94
29.11
Communication and other
C ommunication
Other s
35.05
24.17
10.88
35.90
25. 51
10.39
37.34
26. 81
10.54
37.66
26.78
10.88
36.97
26. 32
10.66
36.11
24.89
11.22
40.34
41.39
42.87
81.79
21.78
29.63
31.93
7.36
8.41
7.31
7.77
27.02
28.08
6.75
7.22
6.49
6.92
7.03
7.64
34.83
23.78
11.05
36.99
26.16
10.82
8.79
6.05
2.74
9.62
6.93
2.69
8.52
6.04
2.48
9.52
6.77
2.75
9.28
6. 60
2.68
9.67
6.76
2.91
41.93
7.88
1. Estimates are based on planned capital expenditures reported by business in late January
and February 1981. The planned expenditures for the first quarter, second quarter, and second
half of 1981 have been corrected for biases. The adjustment procedures are described in the
October 1980 SURVEY. Before adjustment, plans for 1981 were $321.19 billion for total business,
$134.38 billion for manufacturing, and $186.81 billion for nonmamifacturmg.
9.20 10.47
22.26
2. Includes industries not shown separately.
3. Consists of lumber, furniture, instruments, and miscellaneous.
4. Consists of apparel, tobacco, leather, and printing-publishing.
5. Consists of construction; social services and membership organizations; and forestry,
fisheries, and agricultural services.
March 1981
30% percent of fixed assets reported a
need as of the end of December for more
facilities, 1% points below the percentage as of the end of September (table
8). Facilities viewed as about adequate
increased 2 points, to 61 percent, and
facilities viewed as in excess of needs
declined about one-half of 1 percentage
point, to 8y% percent.
Nonmanufacturing Programs
Spending for plant and equipment by
nonmanufacturing industries increased
one-half of 1 percent in the fourth
quarter of 1980, to an annual rate of
$181.0 billion, following a similar in-
SUKVEY OF CUEEENT BUSINESS
crease in the third quarter. The mining,
railroad, finance, and service industries
reported sizable increases in fourthquarter spending, but these increases
were offset by declines in most other industries. A 4%-percent increase is
planned by nonmanufacturing in the
first quarter and 1 percent in the second.
Plans for the second half imply an average quarterly increase of about 3%
percent.
For 1981, planned spending by nonmanufacturing totals $195.9 billion, 9
percent more than spending in 1980;
spending last year increased 4% percent. The largest increases are planned
33
by mining, 17% percent; "other transportation," 14 percent; and "communication and other," 13% percent. Gas
utilities plan a 9%-percent increase,
electric utilities, 7% percent, and trade
and services, 6% percent. Smaller increases are planned by railroads and airlines, 3% percent and 2% percent, respectively.
Starts of new projects by public utilities in the fourth quarter totaled $14.9
billion, compared with $4.2 billion in the
third quarter. Carryover of utility projects increased $6.1 billion during the
fourth quarter, to $130.2 billion at the
end of December.
By JEFFREY H. LOWE
Capital Expenditures by Majority-Owned
Foreign Affiliates of U.S. Companies, 1981
jVlAJORITY-OWNED foreign affiliates of U.S. companies plan to increase capital expenditures 13 percent,
to $53.9 billion, in 1981, following a
near-record 24-percent increase last year
(chart 8 and table I).1 The moderate
increase in 1981 primarily reflects
sharply lower growth in spending by
manufacturing affiliates as a result of
the slowdown in economic activity
abroad. These affiliates plan their smallest spending increase (7 percent) since
1976. The impact of this small increase
will be tempered by continued strong
spending by petroleum affiliates; their
expenditures reflect ongoing efforts to
explore for and develop new sources of
crude oil in response to rising petroleum
prices.
The latest plans for 1981, reported in
December, were revised upward from
plans reported last June, which showed
an 8-percent increase. The largest upward revisions were in petroleum and
"other" industries. Bevisions in petroleum were widespread geographically,
mainly because several large U.S. petroleum companies that have worldwide
activities, were unable last June, as in
the past, to provide reliable estimates so
far in advance of actual expenditures.
Eevisions in "other" industries were
sharpest in the Middle East and "other
Asia and Pacific."
Latest plans for 1980 were virtually
unchanged from earlier plans. Declines
in most manufacturing subindustries
were offset by modest increases in industries outside manufacturing.
By area, affiliates in developed countries plan a 12-percent increase in spending in 1981, to $40.2 billion. A 16-percent increase, to $11.7 billion, is plan•^•••••^•••••H CHART 8
Capital Expenditures by Majority-Owned Foreign Affiliates
of U.S. Companies
Billion $
60
BY INDUSTRY
(Ratio scale)
40
20
NOTE.—Earl F. Holmes assisted in the
preparation of the estimates.
1. Capital expenditures are expenditures that are
made to acquire, add to, or improve property, plant,
and equipment, and that are charged to capital accounts. They are on a gross basis ; sales and other
dispositions of fixed assets are not netted against
them. Capital expenditures are reported to BEA in
current dollars; they are not adjusted for price
changes in host countries or for changes in the
value of foreign currencies, because the data needed
for such adjustments are unavailable.
A majority-owned foreign affiliate is a foreign
business enterprise in which a U.S. company owns,
directly or indirectly, at least 50 percent of the
voting rights. These data are universe estimates
based on BEA's semiannual sample survey. The
latest survey, taken in December 1980, covered
about 5,000 majority-owned foreign affiliates.
34
"b^KVv*^^
.2 t^'-'lv-.fl"^-^
1968
70
72
. •
74
76
• Planned
U.S. Department of Commerce, Bureau of Economic Analysis
.:-
' |
78
I
t
I
j
I
80
1968
76
78
80
SURVEY OF CUERENT BUSINESS
March 1981
ned by affiliates in developing countries.
In both areas, percentage increases this
year are about one-half of those last
year. Affiliates in "international and unallocated"—which are primarily engaged in international shipping—plan
to increase spending 20 percent, to $2.1
billion, following a 4-percent increase.
By industry, petroleum affiliates plan
a 24-percent increase, to $18.7 billion,
following a 30-percent increase; mining
and smelting affiliates plan a 22-percent
increase, following an unusually large
increase of 93 percent. A 7-percent increase, to $24.4 billion, is planned by
manufacturing affiliates, following a 22percent increase. Trade affiliates plan to
increase spending 5 percent, following a
29-percent increase. Only affiliates in
"other" industries plan an increase
larger than last year—9 percent compared with 8 percent.
Petroleum
35
icy, announced last October, calls for
increased Canadian ownership of the
domestic oil and gas industry, the provision of new incentives to encourage
exploration by Canadian-controlled
companies, and increased federal energy taxes. Although spending remains
strong, a further slowdown in the rate
of growth may be evident in BEA's
next survey, when more affiliates take
into account the implications of the policy for their spending plans.
In the North Sea area, Norwegian affiliates plan to spend $1.1 billion, a 41percent increase, up from 10-percent
last year. Much of the increase is for
developing new offshore gasfields.
United Kingdom affiliates plan a 9-percent increase, to $4.3 billion, down from
30 percent; both increases are mainly
for further exploration and development. The slowdown in 1981 may partly
reflect the United Kingdom Govern-
Petroleum affiliates plan to increase
spending 24 percent, to $18.7 billion,
following a 30-percent increase last year.
The increase is widespread among
areas, and is particularly large in Canada, the North Sea, and "other Africa,"
where affiliates are engaged mainly in
petroleum extraction.
In developed countries, affiliates plan
to increase spending 23 percent, to
$12.5 billion, following a 32-percent increase (tables 2A-C). Canadian affiliates plan to increase spending 21 percent, to $4.2 billion, after a 43-percent
increase; the increase is mainly for continued development of western Canada's tar sands, and for upgrading and
expanding refineries to process synthetic crude. The slower increase in
spending may partly reflect the host
government's policy of "Canadianizing" its oil and gas industry. The pol-
Table 1.—Capital Expenditures by Majority-Owned Foreign Affiliates of U.S. Companies, 1975-81
Percent change from preceding year
1976
Total
1977
1978
Earlier plans 2
Latest plans l
Actual expenditures
1979
1980
Billions of dollars
1980
1981
Latest plans 1
Actual expenditures
1975
1981
1977
1976
1978
1979
1980
1981
Earlier plans 2
1980
1981
-8
11
12
25
24
13
24
8
26.8
24.7
27.5
30.7
38,4
47.8
53.9
47.4
51.1
-21
-11
-33
18
7
8
41
15
93
30
22
24
66
28
33
13
1.2
8.9
.9
7.9
.6
9.3
.6
10.0
.8
11.6
1.6
15.0
1.9
18.7
1.4
14.8
1.8
16.7
By industry
Mining and smelting
Petroleum
Manufacturing.
-4
17
15
29
22
7
24
6
10.9
12.7
14.6
18.8
22.9
24.4
23.4
24.8
Food productsPaper and allied products
Chemicals and allied products
(*)
-15
10
25
18
-11
21
19
1
20
14
36
38
49
6
7
13
9
38
54
8
-4
15
8
.7
.7
2.5
.7
.6
2.7
.9
.7
2.4
1.0
.8
2.5
1.2
.9
3.4
1.7
1.4
3.6
1.8
1.6
3.9
1.7
1.5
3.6
1.7
1.7
3.9
Rubber productsPrimary and fabricated metals
Machinery, except electrical
-22
-1
-4
-15
5
36
14
1
20
-11
10
29
-9
16
9
4
-6
4
3
8
7
-5
-16
14
.4
.7
2.8
.3
.7
2.7
.3
.7
3.6
.3
.7
4.4
.3
.8
5.7
.2
.9
6.2
.3
.8
6.5
.3
.8
6.1
.3
.7
6.9
Electrical machinery
Transportation equipmentOther
-9
-4
-14
22
35
19
8
22
21
23
48
24
13
54
17
-3
15
-1
19
61
26
3
11
-15
.9
1.4
1.3
.8
1.4
1.1
1.0
1.8
1.3
1.1
2.2
1.6
1.3
3.3
2.0
1.5
5.1
2.3
1.4
5.9
2.3
1.5
5.3
2.5
1.6
5.9
2.1
-32
9
10
-8
13
13
23
36
29
8
5
9
23
5
-2
-1
2.4
3.1
1.6
3.3
1.8
3.1
2.0
3.5
2.4
4.7
3.1
5.1
3.3
5.6
3.0
5.0
2.9
4.9
-5
15
14
24
24
12
24
9
18.8
17.8
20.4
23.3
29.0
36.0
40.2
36.0
39.4
11.3
24.2
20.5
2.5
4.7
8.9
4.4
3.7
Trade
Other....
11.3
By area
D e veloped countries
Canada
Europe
European Communities (9)
France
Germany
United Kingdom
Other
Other.. Japan
Australia, New Zealand, and South
Africa
Developing countries
Latin America
Other Africa.
Middle East..
Other Asia and Pacific
International and unallocated
11
-11
10
18
1
17
23
28
36
18
15
11
37
19
8
10
5.0
11.7
5.6
10.5
6.2
12.4
6.2
14.5
7.7
18.6
10.4
21.9
12.0
24.2
10.5
22.1
-11
-37
-9
-1
-6
-8
21
22
5
32
14
6
18
8
36
20
4
14
27
25
30
23
34
32
19
21
18
17
22
13
7
3
9
7
6
36
20
22
24
17
21
13
7
1
7
10
5
26
9.9
1.9
2.1
3.6
2.3
1.8
8.8
1.2
1.9
3.6
2.2
1.6
10.7
1.5
2.0
4.7
2.5
1.7
12.6
1.6
2.7
5.7
2.6
2.0
16.0
2.0
3.6
6.9
2.4
2.6
18.9
2.4
4.2
8.1
4.2
2.9
20.2
2.5
4.5
8.7
4.4
4.0
19.1
2.4
4.4
8.1
4.1
3.0
-18
20
47
15
34
-9
26
-15
.8
.6
.8
1.1
1.3
1.7
1.6
1.6
1.4
-15
9
25
4
37
20
25
34
1.2
1.0
1.1
1.4
1.4
2.0
2.4
1.8
2.4
-19
9
13
23
29
16
22
6
6.4
5.1
5.6
6.3
7.8
10.0
11.7
9.4
10.0
-14
-18
-17
-35
-2
28
31
2
22
18
-22
41
22
6
-20
79
33
34
-4
35
19
48
-11
5
24
45
-38
32
9
31
-15
-7
3.1
.7
1.3
1.3
2.6
.6
1.1
.8
2.6
.7
1.4
.8
3.1
.9
1.1
1.2
3.8
.9
.9
2.1
5.1
1.3
.8
2.9
6.0
1.9
.8
3.0
4.7
1.3
.6
2.8
5.2
1.8
.5
2.6
5
-17
-26
50
4
20
21
-17
1.7
1.8
1.5
1.1
1.7
1.7
2.1
2.0
1.7
*Less than 0.5 percent (±).
1. Based on the BEA survey taken in December 1980.
2. Based on the BEA survey taken in June 1980.
SUEVEY OF CURRENT BUSINESS
36
ment's plans to conserve more of its oil
reserves.
In other areas of Europe, where affiliates are primarily engaged in refining
and distribution, some large increases
in spending are planned. Netherlands
affiliates plan a 122-percent increase,
March 1981
partly for a plant to convert coal into
methane for use as a substitute for natural gas. German affiliates plan a 70percent increase, primarily for modernizing existing refineries.
After a 50-percent increase in spending, Australian affiliates plan an even
larger increase in 1981 spending; both
increases are for refinery upgrading,
shale-oil extraction, and gasfield development.
In developing countries, affiliates
plan a 26-percent increase in spending,
to $5.2 billion, slightly below the 1980
Table 2A.—Capital Expenditures by Majority-Owned Foreign Affiliates of U.S. Companies in 1979 *
[Millions of dollars]
M anuf actur ing
MinAll
indus- ing and Petrotries smelt- leum
ing
Total
Food
products
Paper
Primary
Chemiand
cals and Rubber
and
products fabriallied
allied
products products
cated
metals
A l l countries
__
Other
Electri- TransTrade indusportation
cal
Other
tries
machin- equipmanuery
ment
facturing
Machinery
(except
electrical)
_ . 38,385
823
11,568
18,830
1,247
949
3,351
269
772
5,659
1,296
3,329
1,958
2,440
4,724
28,966
589
7,721
16,039
890
858
2,625
190
629
5,314
1,080
2,792
1,661
2,025
2,591
Canada
7,678
335
2,427
3,574
200
478
921
83
100
616
256
703
217
277
1,066
Europe
18,558
5
11,066
571
346
1,475
86
517
4,256
740
1,821
1,253
1,466
1,261
15, 940
747
2,003
3,559
1,050
1,042
218
376
6,945
3
0
0
0
3,911
31
217
298
77
141
68
39
3,039
10, 442
635
1,377
3,070
872
762
26
319
3,382
500
24
47
78
37
177
7
4
126
323
(D)
41
5
50
129
1
0
(D)
1,374
261
84
254
65
106
3
87
514
72
13
19
4
13
2
482
8
48
79
18
61
(*)
4,093
(»)
839
1,138
476
644
36
77
189
157
1,746
89
84
884
18
70
2
(D)
(")
1,207
21
137
439
38
80
(*)
201
291
1,110
51
300
169
79
117
D
(D)
( )
352
474
30
110
22
22
22
<»)
(")
170
849
693
59
24
7
66
624
34
269
185
39
97
71
23
101
1
49
24
5
22
76
71
2
2
1
45
3
20
1
12
9
356
12
80
28
174
63
787
73
264
1
271
177
242
873
48
15
163
86
137
120
50
Developed countries
European Communities (9)
Belgium and Luxembourg
France
Germany
_ _
Italy
Netherlands
Denmark
_
Ireland
United Kingdom
Other
Norway
Spain
Sweden
Switzerland
Other
_-
-
(*)
0
0
1
3
4,760
4
CO
<»)
66
20
8
(")
(D)
47
3
17
13
1
7
6
1
1
91
726
79
143
78
435
67
120
421
23
186
2
33
90
1
2
75
6
4
67
7
27
2
6
13
0
1
9
2
0
120
5
38
2
4
37
0
(•)
30
2
1
0
0
°0
0
0
1,445
249
292
527
71
19
1,091
59
294
232
2
16
245
(D)
(")
401
17
110
40
1
29
15
4
1
7,753
233
3,176
2,790
357
3,806
145
793
2,131
236
3,466
438
1,076
66
159
628
33
319
540
125
83
108
(D)
625
147
54
4
54
1
4
268
22
40
30
2,109
132
881
12
97
509
10
5
400
47
16
235
12
68
1
12
78
78
169
46
2
?20
22
(*)
1
15
6
(*)
(*)
41
(D)
Australia
New Zealand
South Africa
Developing countries
Latin America
Latin American Republics
Argentina
Brazil
Chile
Colombia
Mexico
..
Panama
Peru
Venezuela
Other Central America - .
Other Latin America
Other Western Hemisphere
Bahamas
Bermuda
_
Jamaica
Other and unallocated
Other Africa
Liberia
Libya
Nigeria
Other and unallocated
--
Other Asia and Pacific
India
Indonesia
Korea
Philippines
Other and unallocated
37
3
0
9
25
931
7
830
34
140
165
593
3
0
1
3
1
139
148
542
10
876
Iran
Other and unallocated
-
(
606
(*)
8
33
20
8
1
0
1
580
1
333
101
74
437
D
( )
17
(D)
165
158
(
*>o
13
(*)
11
0
0
0
0
0
0
3
8
°0
0
3
1
23
1
0
1
1
22
1
0
107
12
256
8
0
D 0
11
2
2
0
3
1
0
0
D
(*)
(°)
946
(*)
0
4
34
0
53
0
0
28
10
33
0
0
1
10
4
(*)
*u
()
81
23
(*)
38
28
431
339
256
1,077
6
11
14
0
2
0
0
\
11
30
((*)D)
4
602
(*)
4
(*)
(
2,130
1 665
•Less than $500,000.
1. See footnote 1, table 1.
4
3
20
0
14
11
340
145
4
26
165
885
Middle East
(D)
(*)
(*)
96
10
137
1
(*)
1
(D)
°>n
(B>
8
Australia, New Zealand, and South
Africa
..
61
2
3
5
(
164
1,285
_
0
0
22
1,350
Japan
_-.
(")
(0)
34
17
12
3
2
1
(*)
-
(*)
0
22
267
2,618
814
673
238
491
403
2
1
(*)
()
(•)
(D)
2
815
3
(D)
(<)
o
(*)
18
128
8
9
10
9
55
162
215
144
4
33
40
2
13
92
18
51
345
216
537
297
415
122
(')
(")
1,139
309
128
491
267
289
447
309
4
197
0
17
87
0
123
17
80
(*)
3
11
0
(*)
491
27
166
265
36
96
1
12
24
5
(*)
85
3
3
279
51
80
2
6
73
2
(*)
52
5
7
345
(D)
53
(D)
41
14
25
66
20
18
2
10
(*)
2
6
102
95
87
8
(<)
(*)
(*)
<»)
s
1
0
0
1
0
(*)
(*)
C)
0
0
0
2
1
13
33
2
8
4
(*)
4
1
(*)
135
0
(*)
158
0
0
5
0
0
1
3
0
0
0
0
0
2
1
29
"o
2
(*)
7
18
35
0
0
0
0
0
7
1
1
4
13
30
0
1
5
D
( )
1
0
34
207
(*)
(°)
0
1
0
0
(*)
34
1
206
45
22
74
1
/#\ 0
0
5
3
3
11
3
(D)
0
(*)
o
40
181
2
(>)
31
10
(*)
33
1
0
0
1
(D)
64
(*)
3
96
(o)
(*)
0
0
(D)
l
(*)
83
(°)
(D)
D
( )
6
57
(D)
(D)
(*)
(*)
4
62
0
671
D Suppressed to. avoid disclosure of data of individual reporters.
449
(D)
(D)
28
12
392
994
SURVEY OF CUERENT BUSINESS
March 1981
37
rate of increase. The increase is mainly coal deposits, as petroleum affiliates partly reflects the host governments'
for development of recently discovered seek to exploit alternative energy approval of further development of
oilfields by affiliates in "other Africa"— sources. In Argentina, the increases are proven oil and gas fields.
particularly in Nigeria, the Ivory for new drilling equipment and refinery
In contrast to these increases, affiliCoast, and Cameroon. In Latin Amer- modernization. Affiliates in Indonesia, ates in some developing countries plan
ica, large increases are planned by af- Malaysia, and Thailand account for large spending declines. The largest defiliates in Colombia and Argentina. In nearly all of the rise in spending plans cline is expected in "other" Middle
Colombia, the increases are for mining in "other Asia and Pacific." The rise East; it reflects a change in the nature
Table 2B.—Capital Expenditures by Majority-Owned Foreign Affiliates of U.S. Companies in 1980 *
[Millions of dollars]
Manufacturing
MinAll
indus- ing and Petrotries smelt- leum
ing
All countries
Developed countries
Canada
_
.
Europe
European Communities (9)
Belgium and Luxembourg
France Germany.
Italy
Netherlands
Denmark
Ireland
United Kingdom
Australia
New Zealand .
South Africa
....
Developing countries
.
.....
Latin America
Latin American Republics
Argentina
Brazil
Chile
Columbia
.
Mexico
Panama
Peru .
Venezuela
Other Central America
Other Latin America
Other Western Hemisphere .
Bahamas
Bermuda
Jamaica
.Other and unallocated
Other Africa
22,895
1,722
1,413
3,564
246
892
6,187
1,463
5,120
2,287
3,140
5,101
36,000
1,073
10, 187
19,491
1,206
1,261
2,882
170
723
5,763
1,202
4,267
2,016
2,568
2,680
10,439
587
3,464
4,873
224
938
759
68
120
767
238
1,513
247
309
1,207
21,855
13
6,011
12,784
842
257
1,831
79
590
4,407
855
2,402
1,521
1,872
1,175
18,910
6
0
0
0
5,071
62
210
360
131
215
117
18
3,957
11, 848
791
1,668
3,549
1,159
876
24
224
3,557
767
40
47
110
83
258
7
17
204
226
71
4,259
236
953
1,185
638
141
2
2
1,102
720
41
100
179
174
44
(D)
(D)
169
2,147
219
150
1,037
(D)
75
(D)
(D)
606
1,464
32
167
577
46
151
(*)
76
415
546
22
157
37
31
58
26
547
6
68
105
18
57
1
1
291
1,438
87
398
236
87
157
0
73
1,648
199
109
346
97
137
4
84
671
940
760
72
36
(l>)
935
70
430
180
47
207
74
184
1
99
36
4
43
8
0
1
' 44
30
(D)
255
(D)
193
2
*>6
136
(D)
39
10
(D)
61
(D)
2
148
(*)
19
108
9
12
57
59
8
2
5
31
3
3
14
7
4
(D)
(D)
(D)
(D)
434
8
106
24
217
79
299
1,165
45
31
210
2
3
516
74
94
4,183
1,409
1,306
242
264
8,110
".0
2,946
7
6
1,719
Australia, New Zealand, and South
Africa
—
Liberia
Libya
Nigeria
Other and unallocated
Middle East
Other and unallocated
Other Asia and Pacific
India
Korea
Philippines
Other and unallocated
International and unallocated
2
4
°0
0
1
(D)
(*)
(*)
(D)
60
< D) 72
10
1
(D)
15
(D)
(D)
2
".
(
(D)
1,986
473
414
669
96
35
82
21
10
74
35
1,536
66
384
443
1
29
366
495
21
153
48
2
45
32
3
1
53
3
26
12
1
8
7
1
2
65
9
30
1
5
(D)
(D)
(*)
(D)
(D)
149
629
64
212
8
(D)
190
189
66
59
197
232
258
98
18
81
(D)
(D)
(D)
(D)
(D)
(D)
(D)
443
134
(D)
(D)
4,086
3,403
516
152
682
76
168
424
261
853
271
572
1,457
386
1,033
2,698
302
119
507
56
131
382
132
836
232
398
546
4,544
322
694
204
72
8
85
2
6
208
19
52
39
2,673
203
979
20
167
948
6
10
283
35
23
301
16
66
119
(*)
36
3
23
50
0
0
2
5
<*)
493
38
161
2
43
100
(*)
3
136
6
3
56
3
20
1
4
21
0
130
10
29
381
2
221
0
29
125
0
126
18
70
(*)
836
71
300
1
(D)
405
0
(*)
230
44
75
385
78
126
3
10
115
3
1
40
3
7
470
(D
)
(DD)
( )
339
131
3
25
(D)
13
(*)
76
68
2
3
8
8.
647
1, 352
138
265
1,122
43
305
427
127
119
516
8,
8
6
56
0
15
19
517
204
6
39
269
65
(D)
1,252
8
52
112
218
870
3
0
849
6
843
o
%
(
\
(
105
1,110
1
111
193
806
478
(*)
0
(*)
3
476
2,873
121
1,464
43
656
233
323
1,618
0
93
0
0
28
1
503
171
54
735
1,734
(
\
D
(D)
22
133
5
(D)
32
14
11
2
0
1
* o
(*)
(*)
0
0
(>
5
0
"o
0
0
5
0
0
0
0
1
1
(D)35
(*)
D
( )
(D)
3
569
34
33
44
248
211
0
(*)
1
208
0
(*)
(D)
192
(D)
14
( }
D
()
(D)
1
0
0
9
D
( )
(D)
l
33
81
0
18
1
19
11
33
2
1
0
(t)
(
o
1
13
0
0
2
12
*>o
0
1
1
1
0
3
8
92
W
(D)
4
5
(>)
o
0
2
1. See footnote 1, table 1.
50
22
30
86
22
31
7
1
7
24
0
0
0
0
0
1
6
0
0
0
0
0
6
1
1
1
3
19
2
1
2
0
50
(D)
i
0
2
0
0
<*)
50
8
121
14
31
100
1
0
0
8
5
4
14
8
1
0
(*)
24
40
(*)
1
(*)
0
0
0
0
0
i
(*)
o
<%40
6
0
0
1
4
0
0
1
1
°0
9
13
W
1
0
2
17
0
2
(*)
17
1
7
0
6
3
16
3
1
C)
1
0
0
0
1
"o
(D)
(D)
(D)
0
8
(D)
(*)
<0
8
( )
D
33
n
D
(D
)
(D)
( )
21
81
1
(*)
3
9
(*)
789
* Less than $500,000.
Suppressed to avoid disclosure of data of individual reporters.
(D)
(D)
5,061
10,035
.*.
D
Other
industries
15,043
908
821
241
461
515
Japan
Electri- TransTrade
cal
portation Other
machin- equipmanufacturing
ery
ment
1,589
961
Other
Norway
Spain . . .
Sweden
Switzerland
Other
Paper
Primary MachinChemicals and Rubber
ery
and
and
allied
allied
products fabri(except
products products
electricated
metals
cal)
47,768
2,434
. _.
Total
Food
products
„»»„*,. ~™, ^
(D)
W
48
0
4
619
w
%
«
8566
0
964
(D)
SURVEY OF CURRENT BUSINESS
38
March 1981
penditures reflects completion last year for purchases of new and used tankers,
is possibly in response to a rise in tanker
of a major refinery expansion.
In "international and unallocated," rates during 1980.
affiliates plan to step up expenditures Manufacturing
32 percent, to $1.0 billion, about twice
Manufacturing affiliates plan to inthe 1980 rate of increase. The step-up, crease spending 7 percent, to $24.4 bil-
and status of the operations of a Middle East branch of a U.S.-incorporated
petroleum company, which resulted in
a change in accounting for the branch
as reported to BEA by the U.S. company. In Korea, a sharp decline in ex-
Table 2C.—Capital Expenditures by Majority-Owned Foreign Affiliates of U.S. Companies in 1981
[Millions of dollars]
Manufacturing
MinAll
indus- ing and Petrotries smelt- leum
ing
All countries
Total
Food
products
Paper
ChemiPrimary
and
cals and Rubber
and
fabriallied
aUied
products
products products
cated
metals
TransElectriTrade
Other
portation
cal
machin- equipmanuery
facturing
ment
Machinery
(except
electrical)
Other
industries
53,909
1,940
18,651
24,446
1,842
1,594
3,887
256
834
6,454
1,414
5,903
2,264
3,294
5,577
40,157
1,295
12,488
20,940
1,237
1,446
3,185
173
670
6,015
1,147
5,108
1,960
2,599
2,835
Canada
11,991
676
4,190
5,520
220
1,145
987
82
111
848
204
1,669
255
339
1,266
Europe
24,209
12
7,383
13,625
863
258
1,934
78
533
4,558
805
3,154
1,442
1,897
20, 191
811
2,506
4,543
1,527
1,606
270
217
8,711
3
0
0
0
6,077
89
(D)
612
147
477
125
(D)
4,327
12,052
605
1,640
3,732
1,237
909
28
143
3,759
776
21
75
106
97
224
11
17
225
227
(D)
68
(D)
58
7
1
0
76
1,746
248
195
250
101
214
4
58
677
70
479
9
92
125
34
36
1
1
182
4,391
166
846
1,186
700
150
3
2
1,338
714
(D)
80
(D)
139
63
7
(D)
188
2,264
(D)
127
(D)
24
75
2
(D)
572
1,385
33
144
490
72
136
(*)
32
478
1,448
91
422
168
107
176
23
15
446
(D)
177
1,306
1,074
62
39
11
119
1,573
73
948
216
44
291
88
31
90
810
890
4
704
1
4
177
57
«14
188
(D)
111
42
(D)
27
33
449
9
60
41
250
89
682
69
198
(*)
237
177
163
150
(D)
100
214
(D)
63
3
34
91
19
104
187
(°)
(D)
1,674
Developed countries
.
...
European Communities (9)
Belgium and Luxembourg
France
Germany
Italy
Netherlands
Denmark
Ireland
United Kingdom
Other
Norway
Spain
Sweden
Switzerland
Other
4,018
1,232
1,269
297
542
678
--
Japan
1,568
Australia, New Zeland, and South
Africa
2,389
Australia
New Zeland
South Africa
(*)
0
0
1
D
(*)
606
( )
1,137
(D)
658
73
5,150
3,507
578
1,427
2,868
5,460
839
1,556
117
470
1,269
51
401
464
154
139
. _.
487
7
74
0
26
24
1,063
328
(D)
9
291
2
6
267
19
65
(D)
2,842
221
953
13
166
1,093
5
11
301
41
38
451
28
73
1
25
247
4
2
49
13
9
581
306
3
38
233
90
2
0
19
70
364
222
(*)
(*)
141
(
26
2
1
0
1,850
11
1,701
(D)
. ...
48
191
318
1,294
756
4
752
.
Other Asia and Pacific
.
.. -
^28
( D)
3
0
(*)
0
\9
W
o
%
()
1
(°)
O
12
5
0
24
(*)
(*)
6
D
2
( )
562
(D)
123
12
(D)
47
605
148
702
82
452
138
482
62
137
<*)
49
1
28
50
0
0
2
7
(*)
467
36
135
3
39
104
(D)
(<)
(t)
6
127
10
6
o
0
0
(*)
0
(D)
(*)
6
0
0
0
0
0
0
n
8
137
9
13
141
7
1
4
(')
167
(<)
(D)
84
8
30
(*)
(*)
(•)
54
37
11
2
2
2
8
0
1
3
1
41
2
30
6
D
3
329
332
(*)
(*)
1
190
297
1,213
487
31
141
(D)
12
1
(*)
i
(*)
0
15
2
(*)
10
3
(•)
0
0
(D)
267
7%
303
694
406
161
764
270
484
685
62
3
10
1
5
38
0
1
5
1
0
131
13
30
5
3
63
0
1
8
3
4
406
2
229
0
35
136
0
155
(D)
88
(*)
(D)
33
0
1
10
3
3
764
83
270
473
(D)
<D)
241
70
2
2
14
(D)
98
76
5
(*)
4
43
8
4 D 3
14
( )
594
219
(DD)
( )
(°)
67
28
45
101
20
40
0
0
0
1
0
0
0
1
1
16
(•)
0
0
1
9
(D)
(*)
(*)
(D)
( J
(
'>3
8
0
0
1
0
(•)
0
0
(*)
16
(*)
(*)
' o
0
(*)
8347
0
a.
0
0
0
0
0
0
268
2
(*)
0
2
(*)
2
4
5
5
6
28
(D)
0
0
0
0
0
0
5
0
0
5
1
1
1
3
22
D
1
7
3
0
67
(°)
T
0
3
0
0
"«
(*)
(D)
23
27
116
0
4
4
5
15
8
1
3
5
98
(>)
146
10
118
18
16
32
0
0
7
1
14
14
82
2
6
0
7
3
2
2
0
9
3
6
3
22
90
(D)
2
(°)
(°)
68
(D)
o
1
(D) 13
0
1. See footnote 1, table 1.
89
8
26
15
32
188
219
1,014
90
80
10
(>>
0
0
1
7
(*)
(<)
( )
6
0
0
2
5
1
480
* Less than $500,000.
Suppressed to avoid disclosure of data of individual reporters.
210
(D)
(DD)
439
1
770
41
62
816
4
46
74
132
1,691
(D)
92
164
0
48
0
0
9
8
»
(DD)
( )
0
(D)
30
36
43
94
39
1
5
56
4
133
8
m
31
10
611
27
(D)
10
(*)
36
849
116
267
1,754
(>)
(°)
37
9
8
3,023
2,082
80
645
597
7
4
4
4
6,041
Middle East
D
w
11,670
Other Africa
India
Indonesia Korea
Philippines
Other and unallocated
9
8
8
Other Western Hemisphere _Bahamas
Bermuda
...
Jamaica.
.. ..
Other and unallocated
-.
Iran
....
Other and unallocated
(*) 3
580
1
26
Latin America
Liberia .
Libya
Nigeria
Other and unallocated
0
0
1,941
86
362
-
Latin American Republics
Argentina
Brazil
Chile
Colombia
Mexico __
_
Panama
Peru
_
Venezuela
Other Central America
Other Latin America
(*)
(D)
1,293
42
0
( )
6
680
(*)
15
40
13
613
1,068
March 1981
lion, following a 22-percent increase in
1980. Declines or smaller increases are
expected in all manufacturing subindustries except chemicals and rubber products.
Over one-half of the total dollar increase is accounted for by affiliates in
transportation equipment; these affiliates' spending is expected to increase 15
percent, to $5.9 billion, following a 54percent increase in 1980. Last year's increase, historically one of the industry's
largest, was mainly to finance a program to construct assembly and parts
production facilities for the "world
car." The 1981 increase will continue
this program.
Chemical affiliates plan a 9-percent increase, to $3.9 billion, following a 6percent increase. In paper and allied
products, affiliates plan a 13-percent increase; a 49-percent increase in 1980
financed the expansion of production
facilities. Nonelectrical machinery affiliates plan to increase spending 4 percent, following a 9-percent increase.
Slight cuts in spending are expected in
primary and fabricated metals, electrical machinery, and "other" manufacturing.
In developed countries, affiliates plan
a 7-percent increase, to $20.9 billion,
compared with 22 percent in 1980. The
increase is centered in Canada and in
Europe, particularly "other Europe,"
the United Kingdom, and Germany.
Canadian affiliates p]an to increase
spending 13 percent, to $5.5 billion, fol-
SURVEY OF CURRENT BUSINESS
lowing a 36-percent increase. Much of
the increase is in chemicals, partly reflecting the startup and expansion of
petrochemical facilities. In paper and
allied products, large increases are
planned, mainly for modernizing facilities to boost capacity.
In Europe, United Kingdom affiliates
plan to increase spending 6 percent, to
$3.8 billion, about the same rate of increase as last year. Nonelectrical machinery affiliates account for nearly all
of the increase, which is partly offset by
a sizable decline in primary and fabricated metals due to completion of a new
plant in 1980. In Germany, affiliates
plan to increase spending 5 percent, to
$3.7 billion, after a 16-percent increase
last year. Transportation equipment affiliates account for most of the increase,
which is mainly for modifying assembly
lines and for constructing a plastics
plant to fabricate parts for fuel-efficient
vehicles. Affiliates in "other Europe"
plan to step up spending 68 percent, following a 50-percent increase. Virtually
all of the increase is accounted for by
transportation equipment affiliates in
Spain and Austria, and is for constructing assembly plants and parts production facilities for subcompact cars.
In developing countries, affiliates
plan to increase spending 3 percent, to
$3.5 billion, compared with 22 percent
in 1980. By far the largest increase is
in Mexico, where food affiliates with
beverage operations plan to expand bottling facilities. The increase in Mexico
is partly offset by a 24-percent decline
39
in the Philippines, where food affiliates
made large expenditures for new bottling facilities in 1980.
Mining and smelting, trade, and other
industries
Mining and smelting affiliates plan to
increase spending to $1.9 billion, up 22
percent, following a near doubling of
expenditures last year. The increase is
mainly in Brazil and Australia. In
Brazil, affiliates, attracted by relatively
inexpensive hydroelectric power and by
large bauxite reserves, are constructing
a refinery and smelter; in Australia,
affiliates are stepping up expenditures
on antipollution equipment, in addition
to bauxite refinery expansion.
Trade affiliates plan a 5-percent increase in spending, to $3.3 billion, after
a 29-percent increase. Although small
increases are planned in many countries,
most of the increase is centered in Brazil, where affiliates are expanding warehouse capacity to accommodate steppedup production of parts for photographic
equipment.
Affiliates in "other" industries—agriculture, public utilities, transportation,
construction, and finance and other
services—plan to increase spending 9
percent, to $5.6 billion, about the same
rate of increase as last year. Large increases are planned by affiliates in "international and unallocated," for the
purchase of new and used bulk ore carriers, and by Australian affiliates, for
the acquisition of new headquarters.
By CHRISTOPHER L. BACH
U.S. International Transactions,
Fourth Quarter and Year 1980
Fourth Quarter
1980
JL HE current-account surplus narrowed to $O.Y billion in the fourth quarter,
down from1 a $4.5 billion surplus, largely
reflecting a $3.3 billion increase in the
merchandise trade deficit (chart 9). In
the capital accounts, outflows through
U.S. bank-reported claims on foreigners
remained large and inflows through
U.S. bank-reported liabilities to private
foreigners were stepped up.
Among current-account items, the
merchandise trade deficit increased to
$6.1 billion, as exports were unchanged
and the volume of petroleum imports
rose. Net service receipts registered a
small increase—to $9.1 from $8.9 billion.
Although receipts of income on U.S. direct investment abroad declined, payments declined even more from the high
third-quarter level, which had been
boosted by a special transaction. There
were large increases in both other income receipts, due to higher U.S. interest rates and an increase in U.S.
assets abroad, and in other income payments, mostly due to an increase in
foreign assets in the United States. Unilateral transfer outflows were unusually
large due to an increase in grants to
Israel.
Foreign assets in the United States increased $20.7 billion, up from an $11.8
billion increase. Foreign official assets
increased $7.6 billion, compared with an
$8.0 billion increase. Increases in assets
of industrial countries were large, but
for the most part did not reflect dollar
exchange market intervention. Increases
in assets by OPEC members were
smaller than those earlier in the year
(table B).
Among other foreign assets, U.S.
liabilities to private foreigners and international financial institutions reported by U.S. banks increased $9.2 billion,
after a slight decrease. The sharp runup in U.S. interest rates, while rates
abroad changed little, and the appreciation of the dollar in exchange markets
contributed to the increase.
Net foreign purchases of U.S. securities other than Treasury securities were
$2.8 billion, compared with $1.0 billion.
Western European and Canadian purchases of U.S. stocks accounted for much
of the increase and contributed to record
stock purchases for the year. New issues
of Eurobonds were off slightly in the
fourth quarter, but remained strong;
these new issues also established a record
for the year. Inflows for foreign direct
investment were $1.0 billion, down from
$2.4 billion; the third-quarter inflows
had been boosted by the previously mentioned special transaction.
U.S. assets abroad increased $27.0
billion, compared with a $19.1 billion
increase. U.S. official reserve assets increased $1.3 billion, primarily reflecting
net purchases of German marks in foreign exchange markets. There was also
an exchange of special drawing rights
(SDKs) for an increase in the U.S.
reserve position with the International
Monetary Fund (IMF) as part of the
increase in IMF quotas.
Among other U.S. assets abroad,
claims on foreigners reported by U.S.
banks increased $13.0 billion, slightly
more than in the third quarter, despite
the sharp rise in U.S. interest rates and
an increase in domestic demand for bank
credit. Net U.S. purchases of foreign
securities were $0.4 billion, down from
$0,8 billion. Large bond redemptions
CHART 9
Selected Balances on
U.S. International Transactions
Billion $
6
-12
1975
1976
1977
1978
1979
Seasonally Adjusted
U.S. Department of Commerce, Bureau of Economic Analysis
1980
March 1981
SURVEY OF CURRENT BUSINESS
41
Table A.—Summary of U.S. International Transactions
[Millions of dollars, seasonally adjusted]
Line Lines in tables 1, 2, and 10 in which transactions are
1979
included are indicated in ( )
1 Exports of goods and services (1) .
Merchandise, excluding military (2)
_
Other goods and services (3-15) __
_____
4
5
6
Imports of goods and services (17)
_
Merchandise, excluding military (18). .
Other goods and services (19-31)
7
U.S. Government grants (excluding military grants
of goods and services) (34)
__
Remittances, pensions, and other transfers (35, 36) —
8
286, 521
I
II
54 366
39, 713
14, 653
—281, 560 —33, 810
r
-211, 454 -249, 135
—70 105 —84 675
—52, 250
—37, 681
—14 569
-3, 524
-2, 142
-4,506
-2, 452
—982
-310
-860
-464
-899
-484
182, 068
104, 453
65, 668
' 41, 806
23, 862
r
—62, 936
— 46, 922
—16 016
r
r
1980
III
340 887
221, 781
119, 106
r
2
3
1979
Change:
1979-80
1980'
67 764
42 816
24, 948
—67 864
— 50, 876
—16 988
IV
II'
III'
IV *
86 015
Change:
1980
III-IV
78 307
50 239
28, 068
85 521
54 604
30, 917
81 767
54, 605
27, 162
87 586
56, 391
31, 195
1 571
56, 181
29, 834
—78 490
— 59, 397
—19 093
—86 330
—65, 452
—20 878
—82 882
—62, 108
—20 774
—79, 995
—59, 039
—20 956
—84, 603
—62, 536
—22 067
—4, 608
-3,497
— 1 111
-878
-529
-887
-665
-1,247
-565
-762
-564
-949
-578
-1,549
-747
-600
-169
74 782
*• 47 207
27, 575
r
I'
—72 268
— 54, 259
—18 00°>
r
r
210
1,361
U.S. assets abroad, net (increase/capital outflow (— ))
(37)
U.S. official reserve assets, net (38)
U.S. Government assets, other than official reserve
assets, net (43)
U.S. private assets, net (47)
_____ _
-61, 774
—1, 133
-84, 502
—8, 155
-22, 728
—7,022
-7, 768
—3, 585
-15, 300
322
-25, 215
2,779
-13,492
—649
-12,706
—3, 268
-25, 708
502
-19, 135
— 1,109
-26, 951
—4, 279
-7, 816
-3, 170
—3 783
-56, 858
—5 111
—71, 236
—1 328
-14,378
—1 102
-3, 081
—991
-14,631
—766
-27, 228
—925
-11,918
—1 467
-7, 971
—1 191
-25, 019
—1 374
-16,652
—1 079
-21, 593
-4, 941
14
15
Foreign assets in the United States, net (increase/
capital inflow (+)) (56) __ _
_ _.
Foreign official assets, net (57) _ _ _
Other foreign assets, net (64)
37, 575
-14,271
51, 845
47, 626
16, 179
31, 446
10, 051
30, 450
—20, 339
2,201
-8, 744
10, 945
6,407
-10,095
16, 502
24, 941
5, 7S9
19, 152
4,025
-1,221
5,246
7,194
-7,215
14, 409
7,949
7,775
174
11, 763
7,991
3,771
20, 720
7,628
13, 092
8,957
-363
9,321
16
17
Allocations of special drawing rights (74)
Statistical discrepancy (75)
1,139
23, 765
1,152
35, 605
13
11,840
1,139
3,022
10, 375
—833
11, 202
1,152
6,981
20, 200
2,879
5,544
2,665
9
10
11
12
13
295
p Revised.
Preliminary.
r
and a decrease in purchases of foreign
stocks more than offset an increase in
foreign new issues in the United States.
Outflows for U.S. direct investment
abroad were $8.2 billion, up from $4.1
billion, due to a large increase in equity
and intercompany account outflows.
From the end of September to the
end of December, the dollar appreciated
5 percent and 4 percent on a tradeweighted basis against the currencies of
10 industrial and 22 OECD countries,
respectively. A 7- to 8-percent appreciation of the dollar against most European currencies was associated with a
sharp rise in U.S. interest rates, and
weakening economic activity in and
persistent current-account deficits of
European countries. These appreciations were partly offset by a 4-percent
depreciation against the Japanese yen
(table C, chart 10).
The Year 1980
Highlights
In the current account.—The merchandise trade deficit declined to $27.4
billion, from $29.4 billion in 1979. Despite the slowdown in economic activity
abroad, export growth, particularly of
capital goods, remained relatively
strong, partly spurred by the earlier depreciation of the dollar against most
major currencies. Weakness in nonagricultural export growth toward the end
of the year was partly offset by continued strength in agricultural exports.
Sluggishness in the U.S. economy in the
first half of the year limited increases
in both petroleum and nonpetroleum
imports (chart 11).
The service balance was in surplus by
$34.4 billion, virtually unchanged. The
income accounts, which for several years
Table B.—-Selected Transactions With Official Agencies
[Millions of dollars]
19 80
1979
Change:
Change:
Line
1
2
3
4
5
1979
Changes in foreign official assets in the U.S., net
(decrease — ) (line 57, table !)___
Industrial countries2 *
Members of OPEC
Other countries
Changes in U.S. official reserve assets (increase — )
(line 38, table 1)
— 14,271
1980 P
1979-80
I
II
—8, 744
6 959
— 1,361
— 10,095
11 535
—21 323
5, 558
1 494
16, 179
1 064
12,985
2 130
30, 450
22 387
7,427
— 1 133
—8 155
—7 022
—3 321
5 121
—8 442
—3, 184
1 773
—4 957
137
—3, 356
—3 348
3 485
408
827
—3 764
—3 022
70
—70
242
172
—242
— 172
636
IV
III
238
I
II
III'
IV p
1980
III-IV
-363
5, 789
4 076
1,676
-1,221
6 905
5^005
-7,215
10 715
2^955
7,775
2 980
4,749
46
7,991
2 356
4,391
1 244
7, 628
6 443
890
295
4,087
-3,501
502
-1,109
-4, 279
-3, 170
-604
338
-942
-371
424
1 202
37
—3 585
322
2 779
—649
—3 268
—2, 195
2,727
3 425
-698
-497
—3, 173
964
—958
3,512
1 096
-132
39
—39
95
192
97
— 145
679
545
—949
Activity under U.S. official reciprocal currency arrangements with foreign monetary authorities: s_
6
6a
6b
7
7a
7b
U.S. drawings, or repayments (— ), net
Drawings
Repayments
Foreign drawings, or repayments ( — ) net
Drawings
Repayments
r
p Preliminary.
Revised.
1. Western Europe, Canada, Japan, Australia, New Zealand, and South Africa.
2. Based on data for Ecuador, Venezuela, Indonesia, and other Asian and African oilexporting countries.
31
—31
461
339
-371
233
-338
571
—95
50
3. Consists of transactions of the Federal Reserve System and the U.S. Treasury Department's Exchange Stabilization Fund.
SURVEY OF CURRENT BUSINESS
42
have been a major factor in the rise in
the service surplus, showed no net
change. A decline in net receipts on direct investment reflected a nonrecurring
capital loss and a reduction in operating
income associated with a special secondquarter transaction, weaker business activity in most industrialized countries,
and a decline in crude petroleum production. There was a slightly more than
offsetting rise in net receipts on other
investment income; the rise in receipts,
due to sharply higher U.S. interest rates
and increased U.S. bank lending to foreigners, outpaced the rise in payments
on increased foreign asset holdings in
the United States.
Unilateral transfers, at $7.0 billion,
compared with $5.7 billion, reflected
larger outflows to Israel.
Reflecting all the above transactions,
the current-account balance showed little change, shifting from a deficit of
$0.7 billion to a surplus of $0.1 billion.
In the capital account.—U.S. bank
claims on foreigners nearly doubled to
$46.6 billion. The step-up was attributable to increased loans to Caribbean
branches. In contrast to 1979, when
U.S. banks borrowed heavily from
these branches to finance strong domestic loan expansion, U.S. banks were
net lenders to these branches, and indirectly to the Eurocurrency markets, in
1980. The change probably reflected the
effects of U.S. monetary restraint and
credit controls, and a lessening in credit
demand in the United States during
much of 1980.
CHART 10
Change in United States
and Foreign Weighted Industrial
Production
Percent
20
1978
1979
1980
Seasonally Adjusted at Annual Rates
1. Consists of Canada, Japan, France, Germany, Italy, the Netherlands, and
United Kingdom, weighted by shares of GNP originating in manufacturing in
1975.
Data: Federal Reserve Board, and International Trade Administration.
U.S. Department of Commerce, Bureau of Economic Analysis
81-3-10
The increase in U.S. bank liabilities
to private foreigners and international
financial institutions was $13.4 billion,
down from $37.5 billion, largely due to
the factors just mentioned. Large bankreported inflows occurred when interest
March 1981
rate differentials favoring the United
States widened and when the dollar
strengthened in foreign exchange markets. Inflows were smaller when interest
rate differentials in favor of the United
States narrowed or disappeared and
when U.S. domestic credit demand
lessened.
Foreign purchases of U.S. stocks and
of Eurobonds newly issued abroad by
U.S. corporations set records, resulting
in net foreign purchases of U.S. securities other than Treasury issues of $7.4
billion. These purchases were sensitive
to fluctuations in both security and exchange markets.
Foreign official assets in the United
States increased $16.2 billion, in contrast to a $14.3 billion decrease. Most of
the increase was due to increased holdings of dollar assets by OPEC
members.
In the exchange markets.—The dollar fluctuated widely in exchange markets, largely in response to interest rate
differentials. The dollar appreciated 9
percent on a trade-weighted basis in the
first quarter when the rise in U.S. interest rates far outpaced the rise in foreign
rates and fell by the same amount when
U.S. interest rates dropped sharply,
along with U.S. economic activity, in
the second quarter. In the last 5 months
of the year, when U.S. interest rates
again rose sharply while rates abroad remained stable or declined, wide interest
differentials in favor of the dollar reappeared and the dollar appreciated 5
percent.
Table C.—Indexes of Foreign Currency Price of the U.S. Dollar
[May 1970=100]
End of period
I
Trade-weighted average against 22 OECD currencies
*
Trade-weighted average against 10 currencies 2
Selected currencies: s
Canada.. __
France
Germany
Italy
Japan
Netherlands
Switzerland _
_
United Kingdom
_..
__
II
III
IV
I
II
III
IV
I
II
III
IV
84.1
77.4
82.1
77.1
79.2
73.2
78.5
71.3
80.3
73.0
80.9
72.4
79.8
70.5
81.6
70.7
89.3
77.2
81.0
70.2
82.0
70.9
85.0
74.5
105.4
83.0
55.7
135.5
62.0
59.6
43.2
129.4
104.7
81.6
57.1
135.9
57.0
61.5
43.0
129.1
110.2
78. 5
53.4
130.9
52.7
58.0
35.7
121.8
110.4
75.7
50.3
131.9
54.2
54.2
37.5
118.1
108.1
77.8
51.4
133.5
58.3
55.4
39.1
116.1
108.7
77.6
50.7
132.4
60.5
55.9
38.4
110.8
108.1
74.3
48.0
127.5
62.2
53.2
35.5
109.3
108.8
72.8
47.7
127.8
66. 8
52.5
36.6
108.0
110.9
81.1
53.4
142.8
69.6
58.6
42.4
110.9
107.2
74.0
48.4
133.4
60.6
53.1
37.5
101.7
109.0
76.1
49.9
137. 1
59.1
54.1
38.1
100.6
111.2
81.8
53.9
147.9
56.6
58.6
40.7
100.7
1. Australia, Austria, Belgium-Luxembourg, Canada, Denmark, Finland, France, Germany, Greece, Iceland, Ireland, Italy, Japan, the Netherlands, New Zealand, Norway,
Portugal, Spain, Sweden, Switzerland, Turkey, United Kingdom. Data: U.S. Department
of the Treasury.
1980
1979
1978
2. Belgium, Canada, France, Germany. Italy, Japan, the Netherlands, Sweden, Switzerland, United Kingdom. Da'a: Federal Reserve Board. The index has been revised as a
result of a change in method of computation: for details, see the August 1978 Federal Reserve
Bulletin. The new FRB index was rebased by BEA.
3. Data: International Monetary Fund.
March 1981
Statistical discrepancy.—The statistical discrepancy (errors and omissions
in reported transactions) was a positive
$35.6 billion in 1980, after a positive
$23.8 billion in 1979. Unrecorded inflows
were particularly large in the first half
of 1980. Several factors may have contributed to some shift in capital flows
from reported channels to channels less
adequately covered by the statistical reporting system. First, the Federal
Eeserve's imposition of marginal reserve requirements on Eurodollar borrowings of U.S. banks in October 1979
and March 1980 altered the pattern of
U.S. bank lending and borrowing
transactions with overseas offices. As the
location of the booking of claims and
liabilities was shifted to overseas offices,
some transactions may have been inadequately reported. Also, during the second quarter when there were significant
changes in the differential between the
U.S. prime rate and the London Interbank Offer Rate (LIBOR) favoring the
latter, U.S. firms' reported loans from
these overseas offices increased only
moderately. Under such circumstances,
the increase in liabilities to foreigners
may have been underreported. Second,
there were unsettling political and military events abroad. An interagency
group, under the auspices of the Office
of Federal Statistical Policy and Standards, is considering changes in the
reporting system.
SURVEY OF CURRENT BUSINESS
43
CHART 11
Indexes of Foreign Currency Price of the U.S. Dollar (May 1970=100)
100!
TRADE-WEIGHTED AVERAGES
90
80
70
60L-L
150
SELECTED CURRENCIES3
140
130
120
110
100
90
80
U.S. dollar in exchange markets
70
Interest rate developments had a pronounced influence on the dollar's performance in 1980 (chart 12). After
leveling off early in the year, U.S. interest rates rose in response to increased
credit demands and to the Federal Reserve's policy of restraining the growth
of bank reserves. Interest rates abroad
also rose, but less sharply, and foreign
funds Tbegan to be switched into dollars
as the differentials widened in favor of
the dollar. The large dollar inflows, including those coming directly and indirectly from OPEC members, created
strong pressures on the German mark
and Japanese yen; both countries were
experiencing increases in their currentaccount deficits. In the 6 weeks through
the first week of April, the dollar ad
60
50
Swiss franc
40
i i i i i
30
1977
1980
1979
1. Australia, Austria, Belgium-Luxembourg, Canada, Denmark, Finland, France, Germany, Greece, Iceland, Ireland, Italy, Japan, the Netherlands, New Zealand,
Norway, Portugal, Spain, Sweden, Switzerland, Turkey, United Kingdom. Data: U.S. Department of the Treasury.
1978
2. Belgium, Canada, France, Germany, Italy, Japan, the Netherlands, Sweden, Switzerland, United Kingdom. Data: Federal Reserve Board. The Index has been
revised as a result of a change in the method of computation; for details see the August 1978 Federal Reserve Bulletin. The new FRB index was rebased by BEA.
3. Data: International Monetary Fund.
NOTE.-Data are for end of month.
U.S. Department of Commerce, Bureau of Economic Analysis.
44
vanced 12 percent against the German
mark, 7 percent against the pound sterling, and 4 percent against the Japanese
yen, reaching the highest level against
the yen in 2i/£> years.
The dollar subsequently came under
selling pressure, as U.S. interest rates
declined sharply and interest rate differentials favorable to the dollar quickly disappeared. Federal Reserve intervention purchases of dollars were necessary to cushion the decline. By the end
of April, the dollar had declined as
much as 9-11 percent from its peaks
against major European currencies, but
was about 2-4 percent higher than in
early February. Against the Japanese
yen and pound sterling, the dollar ended
the period about one-half percent higher
than in early February.
Interest rates declined through midJune, but the effect on the dollar was
countered by early August by a trade
balance that was improving despite a
higher petroleum import bill. U.S. interest rates began to exceed most foreign
rates by early August. As interest-sensitive capital shifted from the mark into
the dollar (and the pound) in early
October, substantial mark purchases by
German and U.S. authorities were
necessary. The acceleration in the
mark's decline also caused strains in the
European Monetary System (EMS) in
late October, requiring Germany to step
up its sales of dollars. In November and
December, capital outflows from Germany continued as investors obtained
higher dollar interest yields at the expense of mark-denominated assets and
as foreign governments, corporations,
and individuals borrowed marks to take
advantage of relatively low interest
rates. Increased foreign borrowings by
German authorities, especially from
OPEC members, did not halt the mark's
decline. By yearend, the mark and the
currencies linked to it in the EMS were
8-10 percent lower against the dollar
than at the end of June. The yen continued its rise against the dollar, ending
the year 19 percent above its early April
low and 15 percent above December
1979, as Japan's capital and current accounts continued to improve. There was
strong worldwide demand, including
demand by OPEC members, for yen
SUKVEY OF CUEEENT BUSINESS
CHART 12
Selected Interest and Exchange Rates
Percent
20
THREE-MONTH INTEREST RATES
16
12
May 1970 =100
80
.EXCHANGE RATE INDEX
75
70
March 1981
to a 6-year high against the dollar. For
the year, the dollar declined 1 percent
against the pound.
Interest rate developments also affected the exchange rate of the Canadian dollar against the U.S. dollar over
the year. In the summer months, when
U.S. rates dropped more sharply than
those in Canada, capital flowed into
higher yielding Canadian dollar assets
and Canadian borrowers were encouraged to borrow in U.S. and other foreign markets. However, in August and
September, as Canadian rates continued
to decline after U.S. rates resumed their
uptrend, the Canadian dollar weakened.
When Canadian interest rates increasingly lagged the rise in U.S. rates in
November and December, and a proposed new Canadian National Energy
Program was perceived as discouraging
foreign direct investment, the Canadian
dollar declined despite official support.
For the year, the U.S. dollar declined 2
percent against the Canadian dollar.
Merchandise trade
I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I
1978
1979
1980
Note.—Data are for end of month.
I Foreign average interest rate and exchange rate index are for Group of 10
countries plus Switzerland, weighted by average total trade shares in
1972-76.
Data: Federal Reserve Board.
U.S. Department of Commerce, Bureau of Economic Analysis
81-3-12
denominated assets, especially stocks
and government and corporate bonds.
A liberalization of Japanese foreign exchange controls and moderating inflation encouraged inflows through yearend, and the Bank of Japan intervened
in exchange markets to limit the yen's
rise.
In contrast to other European currencies, the pound sterling continued to
rise against the dollar in the last half
of the year. Eecord high interest rates,
rising petroleum production from the
North Sea, and a marked increase in the
U.K. trade surplus supported the pound
despite higher inflation than in most
countries. Although some funds flowed
out of the United Kingdom with the renewed rise in U.S. rates, by late October
sizable inflows of OPEC and other investment funds helped push the pound
The U.S. merchandise trade balance
was in deficit by $27.4 billion in 1980,
compared with a deficit of $29.4 billion
in 1979. Exports increased 22 percent,
to $221.8 billion, following a 28-percent
increase in 1979. Imports increased 18
percent, to $249.1 billion, following a 20percent increase. Export volume increased 8 percent, compared with 11
percent. Import volume decreased 3 percent, compared with a 2-percent increase.
Nonagricultural exports increased 23
percent, compared with a 31-percent increase (chart 13). As measured by Census Bureau volume and unit value indexes, about one-third of the increase
was in volume, compared with one-half
in 1979. Agricultural exports increased
18 percent in both years. In 1980, volume
accounted for about two-thirds of the
increase, compared with one-quarter in
1979. Petroleum imports increased 32
percent in value, following a 42-percent
increase. Volume declined 20 percent
after no change in 1979. Nonpetroleum
import growth slowed slightly to 12
percent. Nearly all the increase was in
prices in both years.
Among nonagricultural exports,
which increased to $179.8 billion, capi-
SUEVEY OF CUEEENT BUSINESS
March 1981
CHART 13
U.S. Merchandise Trade
Billion $ (Ratio scale)
50
CURRENT $
Nonpetroleum Imports
40
30
20
20
CONSTANT (1972) $
Nonpetroleum Imports
15
Nonagricultura! Exports
10
20
NONAGRICULTURAL EXPORTS
(Current $)
15 -
_
Nonagrlcultural Industrial Supplies
Automotive Vehicles, Parts, <(/**
and Engines
''*\
ftt./
I
'*!
20
.
I
.
\-'** Consumer Goods (nonfoods)
.
I
I
I
.
.
I
I
!
I
I
I
I
NONPETROLEUM IMPORTS
(Current $)
15
Nonpetroleum Industrial Supplies
10
•
x
\.***
....../
8
/''*
Consumer Goods (nonfood) .**'
6
5
..
x
Food, Feeds, and Beverages
Automotive Vehicles,
Parts, and Engines
I
1976
I
1
!
1977
I
I
I
1978
t
1
1979
1980
Seasonally Adjusted
U.S. Department of Commerce, Bureau of Economic Analysis
31-3-13
tal goods were strong worldwide, again
increasing about 26 percent. This category includes construction and industrial machinery and equipment, scientific machinery, and electronic computers and parts. Deliveries of widebodied
passenger aircraft and new equipment
for older generation aircraft to rebuild
foreign fleets also continued strong.
Among other major categories, consumer goods increased 30 percent, compared with 21 percent; consumer durable goods shipments to Western Europe
were up sharply. Nonagricultural industrial supplies increased 25 percent,
compared with 52 percent; these supplies were perhaps more sensitive to the
immediate impact of the slowdown
abroad.
Agricultural exports increased to
$42.0 billion. The increase was due to
higher exports to developing countries
in Asia, Africa, and Latin America, and
to Western Europe, where harvests were
below normal until late in the year.
Partly offsetting was a sharp decline
in exports to the Soviet Union as a result of the partial embargo imposed in
January. Exports to the Soviet Union
of corn, wheat, and soybeans declined
to 6.2 million metric tons, compared
with 19.1 million metric tons in 1979.
Exports to other areas of the world
rose from 91.6 to 107.8 million metric
tons.
One-half of the total import increase
in 1980 was accounted for by petroleum,
which in turn was more than accounted
for by higher prices. The average price
in 1980 was up 63 percent to $30.46 perbarrel from $18.66 in 1979 (table E).
The average number of barrels imported
daily declined to 7.08 million from 8.81
million, the lowest since the 1975 average daily rate of 6.36 million. The number of barrels imported from OPEC
members was down 26 percent. In addition to the cutoff in imports from Iran,
imports from the two major U.S. suppliers, Saudi Arabia and Nigeria, declined 7 percent and 23 percent, respectively. Imports from Mexico continued
to climb, exceeding those from Canada
and many OPEC members. U.S. consumption declined 8 percent to an average daily rate of 16.96 million barrels.
45
CHART 14
U.S. Petroleum Consumption,
Production,and Imports
Million barrels per day
20
Consumption
Production
I
I
Percent
IMPORTS AS A PERCENTAGE
OF CONSUMPTION
1972
80
Data: Consumption defined as deliveries from refineries. Consumption and
production, U.S. Department of Energy. Imports, BEA.
U.S. Department of Commerce, Bureau of Economic Analysis
si
Imports as a percentage of consumption declined to 42 percent from 48 percent (chart 14).
Among nonpetroleum imports, which
increased to $170.2 billion, nonpetroleum industrial supplies and capital
goods were most immediately affected
by the sluggishness in the U.S. economy. They slowed to an 11-percent
from a 17-percent increase and to a 23percent from a 28-percent increase, respectively. Partly offsetting was a stepup to a 12-percent from a 6-percent increase in imports of consumer goods.
Continued strength in automotive
products imports from areas other than
Canada more than offset a decline from
Canada. Imports of passenger cars
from the rest of the world increased 11
percent in volume; imports from Canada declined 12 percent. The contrasting trends reflect developments in do-
46
mestic sales. Sales of foreign-made cars
increased 3 percent to 2.4 million units;
sales of domestic cars, including those
assembled in Canada, declined 20 percent to 6.6 million units.
By area, there was a $20.5 billion surplus with Western Europe in 1980, compared with $12.3 billion in 1979. Exports to the area increased substantially
for the second consecutive year, while
imports increased moderately. There
was a shift to a $2.1 billion surplus
from a $3.0 billion deficit with nonOPEC developing countries; 1980 was
the fourth consecutive year of either declining deficits or rising surpluses.
Partly offsetting was an increase—from
$30.5 billion to $38.2 billion—in the deficit with members of OPEC; a 19-percent export increase was more than offset by higher priced petroleum imports.
The deficit with Japan rose to $10.4 billion from $8.6 billion, as export growth
slowed and imports of industrial machinery and automotive products remained strong. The deficit with Canada
rose to $3.2 billion from $2.4 billion; imports rose faster than exports.
Service transactions
Net service receipts, at $34.4 billion,
were virtually unchanged in 1980, following several years of substantial increases (table D).
Eeceipts of income on U.S. direct investment abroad were $37.1 billion, compared with $37.8 billion. Interest, dividends, and earnings of unincorporated
affiliates increased slightly and reinvested earnings declined. The decline in
income partly reflected the general
weakness in foreign economies and, to a
lesser extent, a less ebullient petroleum
market (table F). There was a marked
decline for automobile manufacturing
affiliates in Western Europe and the
United Kingdom1. Several special factors affect the comparison of 1980 and
1979 income receipts. First, 1980 data reflected a change in the nature and status
of the operations of a Middle East
branch of a U.S.-incorporated petroleum company that resulted in a change
in accounting for the branch as reported
to BE A by the company. Income receipts were reduced by the change; the
SUEVEY OF CUEEENT BUSINESS
March 1981
Table D.—U.S. International Service Transactions
[Millions of dollars]
1975
Service transactions, net.
__
Receipts
Payments _ Military transactions, net l Travel and passenger fares net
Other transportation net
Investment income, net
Direct, net - - -Other net
Fees and royalties, net
Other services net
_
__
-
_ _ __
1977
1978
13, 846
18, 688
21,409
24,555
34 347
34, 431
84
48, 641
-34, 795
56, 885
-38, 197
63,889
-42, 480
78, 982
-54, 427
104 453
-70, 106
119, 106
-84, 675
14 653
—14,569
—2 453
—105
15, 975
15, 889
559
1,628
—2 683
-610
17, 989
17, 247
—2 582
—606
20, 899
20, 954
886
-1,275
—2 022
—673
32, 510
31, 782
—3, 309
— 1 350
—2,034
-3, 567
3,592
3,871
4,279
5,233
5,486
32, 535
28, 215
4,320
6,236
320
260
-746
—2 944
- .
152
-- --
Change:
1979-80
1976
12, 787
14, 361
-1,574
3,827
771
86
840
742
807
-55
726
1979
728
1980*
60
672
733
25
750
—60
v Preliminary.
1. Consists of goods and services transferred under military sales contracts less imports of goods and services by U.S.
branch experienced a substantial loss for
the second quarter, comprising a nonrecurring capital loss and a reduction in
operating income. (There were unusual
capital inflows from the Middle East
associated with this change.) Second,
receipts from the United Kingdom were
increased by refunds made in compliance with the provisions of a new tax
treaty between the United States and
United Kingdom. The refunds permitted U.S. stockholders of U.K. corporations to benefit from a tax credit that
had previously been available only to
U.K. stockholders. Most of the refunds
were concentrated in the second quarter.
Third, there had been a nonrecurring
addition to receipts from1 the United
Kingdom of more than $1 billion in 1979
as the result of special inventory tax
legislation.
Payments of income on foreign direct
investment in the United States rose
$2.8 billion to $8.9 billion. Much of this
increase was accounted for by profits
from the sale of petroleum holdings by
a Canadian-owned manufacturing affiliate. Also, earnings of petroleum affiliates were up, reflecting OPEC price
hikes and the gradual decontrol of U.S.
petroleum prices beginning in the third
quarter of 1979.
Net income on other investment rose
$3.6 billion to $4.3 billion. Eeceipts rose
$10.8 billion to $39.0 billion, as both U.S.
bank claims on foreigners and U.S. interest rates increased strongly. Payments rose $7.2 billion, to $34.6 billion,
reflecting higher foreign interest rates,
a shift to an increase in foreign official
assets in the United States, and a further rise in U.S. bank liabilities to pri-
vate foreigners and international financial institutions.
U.S. military transactions with foreigners resulted i/n higher net payments—$3.3 billion, compared with $1.3
billion. Transfers under U.S. military
agency sales contracts were up $0.3 billion to $7.5 billion, due to an increase in
deliveries of equipment and construction services to NATO countries, Israel,
and other countries in the Middle East.
However, the $2.3 billion rise, to $10.8
billion, in direct defense expenditures
abroad outstripped the rise in military
transfers. There was a doubling of expenditures on refined and crude petroleum purchases. Expenditures for construction activity in Saudi Arabia and
for the U.S. share of NATO programs
also increased.
International travel and passenger
fare transactions resulted in net passenger payments of $1.4 billion, down from
$2.0 billion. Eeceipts from foreign
visitors in the United States, and passenger fares paid by foreigners to U.S.
transoceanic carriers, increased at a
faster rate than U.S. travelers' expenditures abroad and payments to foreign
transoceanic carriers. Travel receipts
were $10.0 billion, 19 percent more than
in 1979. Spending of Canadian visitors
was up 15 percent. Eeceipts from Mexican visitors increased 37 percent and
those from overseas visitors 14 percent.
U.S. travelers spent $10.4 billion in foreign countries, up 10 percent from 1979.
Expenditures in Canada were up 11
percent, in Mexico, 4 percent, and in
overseas countries, 12 percent. Foreigners paid 20 percent more, or $2.6 billion,
to U.S. trarisocean carriers in 1980. Both
SURVEY OF CURRENT BUSINESS
March 1981
the number of passengers and their average fares increased, but the former increased at a slower rate than in recent
years. The continued rise in fares reflected fuel and other operating cost increases. U.S. travelers paid 14 percent
more, or $3.5 billion, to foreign sea and
air carriers for transocean transportation, mainly due to higher air fares. Although the number of travelers to overseas areas increased slightly, there was
a drop in travel to Europe.
Transportation receipts increased 13
percent to $11.0 billion; payments increased only 5 percent to $11.0 billion.
The slower increase in payments was
due to the 20-percent decline in the volume of imported petroleum and a sharp
decline in tanker rates during the year.
Ocean freight receipts increased due to
rises in freight rates, export tonnage,
and port expenditures.
Unilateral transfers increased to $7.0
billion, from $5.7 billion, due to larger
outflows to Israel.
Table E.—Imports of Petroleum and
Products *
Average number of barrels
imported daily
(thousands of
barrels)
Average price
per barrel ($)
1978:
I
II
III.
IV
8,648
8,632
8,683
8,917
13.35
13.23
13.24
13.35
9,087
9,047
8,395
8,707
13.95
16.29
20.96
23.68
8,400
7,427
5,998
6,495
28.06
30.84
31.39
32.27
1979:
I
II.
III
IV
_
1980:
I
II
III
IV
_
1. Includes imports into the Virgin Islands from foreign
countries.
U.S. bank claims on their Caribbean
branches increased $16.7 billion, compared with a $2.4 billion decrease. Most
of these funds were, in turn, supplied
to the Eurocurrency markets. The increase began in the last quarter of 1979,
after the October 6 imposition of an
U.S. assets abroad
8-percent marginal reserve requirement
on increases in managed liabilities. U.S.
U.S. assets abroad increased $84.5 bilbanks subsequently shifted some loans
lion, compared with $61.8 billion in
to foreigners to offshore financial cen1979.
ters to reduce the net deposit position
U.S. claims on foreigners reported by to which the requirement was applicabanks increased $46.6 billion, compared ble. The marginal reserve requirement
with a $25.9 billion increase. Higher was increased to 10 percent in March
petroleum import bills and generally de- 1980, and the base used for calculation
teriorating current-account positions of simultaneously reduced, before both
many countries, and a shift from bond were eliminated in July. Much of the
market to bank financing, contributed net increase in claims came in the second
to the increase in lending to foreigners, and third quarters, when there was no
despite rising interest rates and gen- net growth in domestic bank lending. In
erally weaker economic activity.
the fourth quarter, when U.S. interest
47
rates rose sharply and domestic lending
increased, the rise in claims on Caribbean branches slowed.
The increase in claims on industrial
countries was virtually unchanged, at
$13.9 billion. High U.S. interest rates
in the first and fourth quarters and the
weakness in economic activity abroad
were restraining factors. To the extent
that additional borrowing was necessary to finance larger current-account
deficits and growing petroleum import
bills in the face of foreign monetary
restraint, it was carried out either in
the Eurocurrency markets or in national
money markets where interest rates were
substantially lower. About $2.4 billion
of the increase in U.S. claims on industrial countries was in the form of
U.S. bank purchases of high-yield foreign financial instruments, primarily
certificates of deposit issued by foreign
banks, held for accounts of money market mutual funds. Net purchases were
especially strong in the first and second
quarters, although below peak quarterly
purchases in the third quarter of 1979.
The increase in claims on non-OPEC
developing countries was $14.3 billion,
compared with $14.6 billion. As in 1979,
Brazil, Argentina, Mexico, and Korea
were large borrowers. These countries
also borrowed heavily in the Eurocurrency markets. An increased sensitivity
by U.S. banks to country risk exposure,
larger external debt burdens, political
uncertainties in some areas abroad, and
diminishing bank capital of many U.S.
banks limited expansion of claims to
most non-OPEC developing countries.
U.S. official reserve assets increased
Table F.—Income Receipts and Payments
[Millions of dollars!
1978
I
Total receipts on U.S. assets abroad.
II
1980
1979
III
IV
I
II
III
IV
I
II
III
TV'
9,483
10, 005
9,915
13, 569
14, 174
15, 496
16, 974
19, 327
20,753
16, 867
17,648
20, 764
Direct
Petroleum
Nonpetroleum
5,701
1 451
4 250
5,911
1 289
4 622
5,418
1,039
4 379
8,134
1,927
6 208
7,963
2,532
5 431
9,150
2 667
6 483
9,889
3,817
6 072
10, 814
4,207
6 607
11, 562
5,427
6 136
7,205
754
6 452
8,665
3,309
5 357
9,636
n.a.
na
Private
Government
3 400
3 575
4 103
5 833
566
727
533
8,342
641
10, 277
513
8,689
502
9 129
548
5,723
488
7 786
394
4 887
6 519
519
-4,451
-5,415
-5,687
-6,518
—7,098
-7, 884
-8, 664
-9,815
-10,580
-10,448
-10,647
-11,819
.
382
Total payments on foreign assets in the United States
851
Direct
Petroleum
Nonpetroleum
. .
—630
-268
—362
—1 262
-292
—971
—1,261
-355
—905
— 1, 058
—324
—734
-1, 155
-397
—757
—1,540
-479
—1 061
—1,703
-625
—1 079
-1,635
-503
—1 133
—1, 761
-792
—970
-2, 157
-893
-1,264
-3, 151
-766
-2,385
-1,783
-876
-907
Private
Government..
. .
—1, 878
—1,943
—2, 079
-2, 074
-2, 279
-2, 147
-2, 951
-2,509
—3, 193
-2, 750
-3, 633
-2, 711
—4, 231
-2, 730
-5,305
-2, 875
-5, 766
-3, 053
-5, 354
-2, 937
-4, 514
-2,982
-6,506
-3, 530
Preliminary.
n.a. Not available.
48
$8.2 billion, compared with $1.1 billion,
primarily due to an increase in foreign
currency holdings, especially German
marks. The mark acquisitions from exchange market intervention were concentrated in March and in the fourth
quarter, when the mark fell sharply.
Other transactions increasing reserve
assets in the first quarter were the sale
of a U.S. Treasury mark-denominated
note issue, which further increased
mark balances, and an allocation of
SDKs by the IMF. In the fourth quarter, there was an exchange of SDKs for
an increase in the U.S. reserve position
with the IMF. This exchange, amounting to about $1.3 billion, was associated
with an increase in IMF quotas, 25 percent of which was to be subscribed in
SDR holdings of member countries. To
meet this requirement, many members
needed to purchase, with dollars, about
$0.3 billion in SDRs from the Fund.
The resulting increase in the Fund's
holdings of dollars reduced the U.S. reserve position by a comparable amount.
Net U.S. purchases of foreign securities were $3.2 billion, compared with
$4.6 billion. Larger purchases of foreign stocks were more than offset by an
increase in scheduled redemptions of
outstanding bonds and a reduction in
new foreign bond issues in the United
States. U.S. residents purchased a record net $2.2 billion in foreign stocks in
1980, up from $0.9 billion. Purchases of
Japanese stocks were $0.8 billion, of
which one-half occurred in the third
quarter. (The yen appreciated strongly
in the last three quarters of the year
and Japanese authorities relaxed foreign exchange restrictions.) U.S. residents purchased $0.4 billion of Western
European stocks after virtually no net
activity in 1979. The purchases were
primarily of French and Dutch equities
in the first and fourth quarters. The
sharp rise in purchases of Canadian
stocks—largely energy related and mining—that began in the third quarter of
1979 continued through the first quarter
of 1980, when there were net purchases
of $0.5 billion. Transactions shifted to
net sales of $0.2 billion by the fourth
quarter, for net purchases of $0.4 billion
for the year. The falloff in November
and December of 1980 reflected adverse
SUKVEY OF CURRENT BUSINESS
investor response to the Canadian Government's National Energy Program,
which appeared to be less favorable to
foreign investment. Foreign new issues
in the United States dropped $1.1 billion to $3.3 billion, due to a $1.0 billion
decline by Western European entities.
Canadian new issues, at $1.9 billion, and
placements by international financial
institutions, at $0.1 billion, remained
unchanged. Total new issues were the
lowest since 1974, when the Interest
Equalization Tax was removed from
purchases of foreign securities by U.S.
residents.
Net capital outflows for U.S. direct
investment abroad declined $3.7 billion
to $20.6 billion. Equity and intercompany account outflows fell $2.1 billion
to $3.8 billion, and reinvested earnings
fell $1.6 billion to $16.8 billion. Much of
the decline in equity and intercompany
outflows was related to the previously
mentioned special inflows associated
with the operations of a Middle East
branch of a U.S.-incorporated petroleum company. There was an increase
in outflows to nonpetroleum affiliates.
Foreign assets in the United States
Foreign assets in the United States
increased $47.6 billion, compared with
$37.6 billion in 1979.
Foreign official assets in the United
States increased $16.2 billion, compared
with a $14.2 billion decrease. Assets of
industrial countries increased $1.1 billion, compared with a $21.3 billion decrease. A substantial first-quarter reduction in dollar assets was due to large
net intervention sales of dollars by West
Germany, Switzerland, and Japan to
limit depreciation of their currencies. In
the second and third quarters, net intervention purchases of dollars were moderate as Western European currencies
temporarily rebounded. Japanese holdings of dollar assets, however, rose substantially through yearend, in an attempt to limit the yen's appreciation.
Most of the remainder of the fourthquarter accumulation of dollar assets
was accounted for by Italy, which borrowed heavily in the Eurocurrency
markets to finance its external deficit,
and Switzerland, which borrowed dollars from its domestic banks.
March 1981
Dollar assets of OPEC members increased $13.0 billion in 1980, more than
double the 1979 increase, reflecting increased proceeds from the sale of higher
priced petroleum. Increases were especially strong in the first 3 quarters, when
there were several reported direct placements by some OPEC monetary authorities with U.S. corporations.
Dollar assets of non-OPEC developing countries increased $2.2 billion,
almost 50 percent more than the 1979
increase. A large placement by a single
country in the third quarter was a contributing factor.
U.S. liabilities to private foreigners
and international financial institutions
reported by banks (lines 68, 72, and 73,
table 2) increased $13.4 billion, compared with a $37.5 billion increase. Most
of the slowdown was in interbank transactions, which dropped to only $4.9 billion from $26.7 billion. Inflows from
industrial countries declined to $6.0 billion from $18.1 billion, and inflows from
Caribbean banking centers dropped to
$3.0 billion from $14.0 billion; inflows
from developing countries, including
OPEC members, were little changed.
Several factors contributed to the
slowdown. First, there was no net
growth in domestic demand for bank
credit in the second and third quarters,
so that there was little need for foreignsource financing. Second, the increases
in liabilities were concentrated in the
first and fourth quarters, when U.S. interest and exchange rates peaked, interest rate differentials in favor of the
dollar were largest, and foreign demand
for dollar-denominated financial assets
was strong. Third, the slowdown was
partly related to the October 1979 and
March 1980 Federal Reserve actions imposing marginal reserve requirements
on managed liabilities of U.S. banks,
including Eurodollar borrowings, and
restraining the growth in bank reserves.
Net foreign purchases of securities
other than U.S. Treasury securities were
$7.4 billion, compared with $2.9 billion,
largely reflecting net purchases of $4.1
billion of U.S. stocks, up from $1.0 billion. There was a particularly large increase in purchases by U.K. and Western European residents. The 24-percent
SUEVEY OF CUEEENT BUSINESS
March 1981
rise in U.S. stock market prices and
periods of dollar strength in the exchange markets were contributing factors. Also, foreign purchases of Eurobonds newly issued abroad by U.S. corporations were $2.6 billion. Although
Eurobond rates fluctuated some 200-300
basis points, as did domestic bond rates,
such issues could be marketed much
more rapidly, and at times, at a more
favorable cost than domestic issues.
Net inflows for foreign direct investments in the United States were $8.2
billion, down $1.5 billion from 1979.
Sharply lower equity and intercompany
account inflows were partly offset by an
increase in reinvested earnings. The latter exceeded equity and intercompany
49
account inflows for the first time since
1972, reflecting greater reliance by affiliates on internal sources than on funds
from foreign parents. Equity and intercompany account inflows decreased $3.6
billion to $2.4 billion, mostly accounted
for by a shift to net outflows on shortterm intercompany accounts, especially
in the fourth quarter.
Table G.—Selected U.S. Transactions With OPEC Members 1
[Millions of dollars]
(Credits +; debits -)
1972
1973'
1975 '
1974'
1976 r
1977 '
1979 r
1978 '
1980 »
Exports of goods and services:
Merchandise , adjusted , excluding military
Transfers under U.S. military agency sales contracts
Fees and royalties from affiliated foreigners
Fees a n d royalties from unaffiliated foreigners _ _ _ _
Other private services
U.S. Government miscellaneous services
.
2,551
448
125
9
139
5
_ _ _ _ _ _ _ _
Receipts of income on U.S. assets abroad:
Direct investment
Interest, dividends, and earnings of unincorporated affiliates
Reinvested earnings of incorporated affiliates
Other private receipts
U.S. Government receipts .
2,751
_
2,660
91
85
76
__ _
6,219
1,258
9,956
3,928
3,789
139
166
87
6,106
5,671
2,650
3,717
3,498
4,060
1,067
-562
-5,097
-75
(*)
(*)
-20
-34
-17,234
3,414
657
141
11
146
7
181
14
253
7
435
330
105
1,765
184
20
372
8
332
118
11,561
2,865
209
29
590
22
405
117
12, 877
14, 846
3,138
2,872
4,324
185
25
799
18
2,838
300
489
134
14, 534
17, 362
4,352
149
4,501
2,506
2,264
242
1,343
1,850
3,000
237
38
619
35
4,797
264
30
937
32
2,551
321
840
135
2,554
258
41
604
33
154
147
Imports of goods and services:
Merchandise, adjusted, excluding military .__
Direct defense expenditures
Fees and royalties to affiliated foreigners
Fees and royalties to unaffiliated foreigners
Private payments for other services
U.S. Government payments for miscellaneous services
_
_ _ _ _ _ _ _ _
-2, 974
-105
(*)
(*)
-16
-34
_
Payments of income on foreign assets in the United States:
Direct investment
_ _ _ _ _ _ _ _ _
Interest, dividends, and earnings of unincorporated affiliates
Reinvested earnings of incorporated affiliates
Other private payments
_
U.S. Government payments
U.S.
U.S.
Government grants
Government pensions and other transfers
_
U.S.
assets abroad, net (increase/capital outflow (—))
__
U.S. Government assets, other than official reserve assets, net .
U.S. loans and other long-term assets
Repayments on U.S. loans
U.S. foreign currency holdings and U.S. short-term assets, net
U.S. private assets, net
Direct investment abroad.
_ _ _ _
Equity and intercompany accounts
Reinvested earnings of incorporated affiliates
Foreign securities
_
___
(*)
(*)
-52
-19
_ _ _ _ _
-44
-2
_
-996
_
_
_
_
U.S. claims on unaffiliated foreigners reported by U.S. nonbanking concerns:
Long-term
Short-term.
U.S. Treasury securities
Other U.S. securities
Other U.S. Government liabilities
_
U.S. liabilities reported by U.S. banks, not included elsewhere:
Long-term
Short-term
Direct investment in the United States.
Equity and intercompany accounts
Reinvested earnings of incorporated affiliates
.
.
U.S. liabilities to unaffiliated foreigners reported by U.S. nonbanking concerns:
Long-term
.
Short-term
. _.
All other transactions with OPEC and transfers of funds between foreign areas, net. _
Memorandum:
Balance on merchandise trade
D
Suppressed
T
Revised.
v
.
to avoid disclosure of data of individual companies.
Preliminary.
* Less than $500,000 (±).
1. OPEC members are Algeria, Ecuador, Indonesia, Iran, Iraq, Kuwait, Libya, Nigeria,
Qatar, Saudi Arabia, United Arab Emirates, Venezuela, and associate member Gabon.
-27,409
-441
-35, 778
-790
(*)
(*)
-20
-34
(*)
(*)
-22
-40
(*)
(*)
-31
-60
(*)
(*)
-57
-60
-5
-5
(*)
-11
-8
-3
-5
-6
1
6
-6
12
-451
-276
-574
-650
-655
-816
-45, 039
-1, 837
-33, 286
-1,455
(*)
(*)
-65
-70
-1,093
-52
-41
-11
-1,678
-1,382
-46
-3
-41
-3
-26
-4
-31
-4
—25
-4
-31
-15
702
5,912
-4, 225
-1,821
-1, 779
-4,230
-1,420
-317
-107
-412
-179
-472
316
-11
284
9
-1, 740
-445
-145
-300
-4, 123
-628
-307
-321
-164
-1, 604
-1, 455
-149
-782
-294
-203
1,093
1,667
1,806
-139
-211
-436
-44
-256
6,123
7,121
-4, 181
-3, 022
-1,560
7,556
-435
-1,955
-1,067
32
562
35
-123
-126
-341
-318
-230
-207
-218
-581
565
362
1,026
184
-26
205
-2
9
5
212
-6
-305
-867
-39
269
9
18
(D)
(D)
(D)
-58
-51
-7
-2, 449
-2,408
-43
-17
134
-253
-363
109
1
-1,241
387
1,974
2, 216
-242
260
321
102
-61
-415
-638
-76
-1,255
-229
-713
11, 499
10, 455
7,924
6,937
10,837
9,084
7,320
6,365
-1, 137
50
-2
281
5,473
2,426
133
944
3,206
3,005
2,480
3,477
2,938
386
-23
597
36
514
41
4,057
-18
-18
2
2
111
111
(*)
-32
-35
3
-6
-5
-1
-10
2
-12
69
60
9
(*)
-8
-5
150
80
413
7
749
-78
592
19
101
-3
139
-2, 512
-4,881
-13,575
208
1,135
11, 065
16, 532
20,076
22, 199
-423
-1,683
-11,015
-8,941
-15,848
-22,901
-18,440
-30,505
-38,240
-35
720
45
1,191
-5
3,199
801
-170
360
1,278
44
-1,758
(D)
(*)
-67
-71
-28
-19
-9
-1,084
-1,271
-788
-55, 602
1
-35
-2
212
(*)
-141
..
-141
229
-4
-175
-210
Foreign assets in the United States, net (increase/capital inflow (+))
Of which: foreign official
-18,897
-261
-467
-31
-80
U.S. claims reported by U.S. banks, not included elsewhere:
Long-term
Short-term
-38
-391
-594
-91
8
__
-103
-214
-408
194
(*)
_
(*)
(*)
-240
63
78
(2
1
9
o Ann
2 99/1
233
7,054
5,558
14, 582
12, 985
-2, 602
1,620
2,262
1,057
-956
9,570
4,605
948
35
24
11
173
166
7
76
47
362 |
1O1
3
2
i 71Q
934
}
2
Q1O
Individual country information is not available for all accounts: therefore, some accounts are
estimated from regional data.
2. The distinction between long- and short-term is not available.
3. The distinction between long- and short-term liabilities is discontinued.
Source: Bureau of Economic Analysis, U.S. Department of Commerce.
SUKVEY OF CUERENT BUSINESS
50
March 1981
Table 1.—U.S. International Transactions
[Millions of dollars]
1979
Line
I
1
2
Exports of goods and services 2
Merchandise, adjusted, excluding military 3
Transfers under U.S. military agency sales contracts
_
_ __
Travel
Passenger fares
_
Other transportation
__ __
_ _ _ _ . _____-.
Fees and royalties from affiliated foreigners
Fees and royalties from unaffiliated foreigners
Other private services _ __ _
_.
_ _.
U S. Government miscellaneous services
Receipts of income on U.S. assets abroad:
Direct investment
_ _
_
__
Interest, dividends and earnings of unincorporated affiliates
Reinvested earnings of incorporated affiliates
Other private receipts _ _ _
_ _ _ _.
_ __
U.S Government receipts
286 521
»• 182, 068
7,194
8 335
2 156
9, 793
5 042
1,150
4,291
522
340, 887
221, 781
7,470
9 985
2 582
11,041
5 728
1,265
4,645
362
37, 815
19 401
18, 414
25, 861
2,294
16
Transfers of goods and services under U.S. military grant programs, net.
305
17
18
19
20
21
22
23
24
25
26
Imports of goods and services
_ _ _ _.
Merchandise, adjusted, excluding military 3
_
Direct defense expenditures
Travel
_ _
Passenger fares
_ _
_ _ _
_ _ _ _
._
Other transportation
Fees and royalties to affiliated foreigners
_ _ __ _ .
Fees and royalties to unaffiliated foreigners
Private payments for other services
U S Government payments for miscellaneous services
Payments of income on foreign assets in the United States:
Direct investment
Interest, dividends, and earnings of unincorporated affiliates
Reinvested earnings of incorporated affiliates
_
_
Other private payments
U.S. Government payments
_
_ _
_ -
3
4
5
6
7
g
9
10
11
12
13
14
15
27
28
29
30
31
35
36
U.S. military grants of goods and services, net
Unilateral transfers (excluding military grants of goods and services),
net
U.S. Government grants (excluding military grants of goods and services).
_ _ _ _ _
__
_
_ _
U.S. Government pensions and other transfers
Private remittances and other transfers
37
U.S. assets abroad, net (increase/capital outflow ( — ))
32
33
34
r
4
-281, 560
-211,454
—8 469
—9 413
-3, 100
—10 466
-471
—235
—2 779
—1 714
7,963
3 890
4 073
5,723
488
9,150
4 384
4.766
5, 833
513
9,889
4 943
4,946
6,519
566
635
29
49
88
—8 853
-3, 005
-5, 848
—22, 140
-12,501
— 1 155
—517
-638
—3, 193
-2,750
84, 157
' 56, 506
1,758
2,592
633
2,854
1,394
315
1,162
77
82, 686
53, 252
2,093
2,914
884
2,848
1, 434
320
1,167
125
89, 859
58, 157
2,122
2,299
562
2,765
1,613
323
1,181
75
10, 814
6,184
4,630
7,786
727
11, 562
5,680
5,882
8,689
502
7,205
3,449
3,756
9,129
533
8,665
4 958
3,708
8,342
641
9,636
6,166
3,470
10, 277
851
139
144
155
125
211
-78,212 -84, 804
r
-59, 498 -64, S75
-2, 275 -2, 419
-2, 026
-1,943
-634
-727
—2,747
-2 704
-129
-154
—62
—61
—733
—717
—406
—411
-83, 506
-62,353
-2, 752
-2,680
-1, 076
—2,804
-160
—63
-743
—426
-81,072
-59, 048
-2, 729
-3, 526
-1, 020
-2, 703
-101
—63
-744
—492
-84,428
-62, 759
-2,880
-2, 152
-710
-2, 727
-114
-64
-760
—443
-1,761
-595
-1, 166
-5, 766
-3, 053
—2, 157
-1,083
-1,074
—5, 354
-2, 937
—3, 151
-752
-2,399
-4, 514
-2, 982
-1, 783
-574
-1, 209
-6, 506
-3, 530
—1 703
—618
-1,085
—4, 231
-2,730
— 1 540
—535
-1,004
—3, 633
-2,711
84, 186
53, 866
1,497
2,180
503
2,574
1,287
307
1,135
84
—1, 635
—633
-1,002
-5, 305
-2,875
-635
-29
-49
-88
-139
-144
-155
-125
-211
—6,959
— 1 320
-1,390
-1,393
-1,564
-1,807
-1,332
-1,512
-2,308
-3, 524
-1,187
—955
-4, 506
-1,287
—1 165
-860
—265
— 194
-899
-288
—203
-878
—304
—211
-887
—330
—347
-1, 247
-309
251
-762
—312
—259
-949
-331
—232
-1, 549
-336
-424
-61,774
-84, 502
—7,983
-15,564
—24, 848
-13,380
-12,995
-26, 002
-18,776
-26,728
2,779
-649
-65
-3, 268
502
-1,109
-4, 279
1,285
-1,240
-4, 324
43
44
45
46
U.S. Government assets, other than official reserve assets, net
U.S. loans and other long-term
assets
__
Repayments on U.S. loans 5
U.S. foreign currency holdings and U.S. short-term assets, net
47
48
49
50
51
-3, 585
322
-16
-1, 667
—6 472
—1, 142
—86
—2 357
6
-78
394
-52
2 831
27
—611
-1,152
-34
—2, 082
112
-99
489
-261
-294
-554
-3, 783
-7, 651
3,852
16
-5, 111
-9, 697
4,308
278
—1,163
—1,875
758
—47
-933
-1,900
950
16
-802
-1,806
963
42
-885
-2,071
1,181
5
-1, 529
-2, 615
915
171
-1,135
-2, 366
1,168
63
-1,407
-2, 467
1,076
-16
-1,040
-2,250
1,150
60
—56, 858
U.S. private assets, net
—24, 319
Direct investment
Equity and intercompany accounts
-5,904
Reinvested earnings of incorporated affiliates
—18 414
Foreign securities
—4, 643
U.S. claims on unaffiliated foreigners reported by U.S. nonbanking
concerns:
Long-term
j 12— 2,029
Short-term.U.S. claims reported by U.S. banks, not included elsewhere:
Long-term..
_
_
I 13—25,868
Short-term
—71 236
—20 592
—3, 777
—16 815
—3 188
—14,953
—7, 536
-2, 769
—4, 766
—513
—26 825
—6, 754
-1,808
—4 946
—2 143
-11, 846
-4, 057
573
—4, 630
—986
—8, 198
-5, 685
197
—5,882
-765
-25, 369
-3, 218
538
—3, 756
— 1,246
-16, 260
-3, 666
41
-3, 708
-805
-21,409
-8,023
-4, 553
-3,470
-371
— 1,474
12 147
56
Foreign assets in the United States, net (increase/capital inflow (+))
57
58
59
60
61
62
63
Foreign official assets in the United States, net
U.S. Government securities
U.S. Treasury
securities 8 _
..
Other 7
Other U.S. Government liabilities 8 _
_.
U.S. liabilities reported by U.S. banks, not included elsewhere
Other foreign official assets 9
72
73
74
75
Other foreign assets in the United States, net
. ..
Direct investment
___
Equity and intercompany accounts
Reinvested earnings of incorporated affiliates
U.S. Treasury securities .
._.
. .
U.S. securities other than U.S. Treasury securities
U.S. liabilities to unaffiliated foreigners reported by U.S. nonbanking concerns:
Long-term..
[
Short-term
U.S. liabilities
reported by U.S. banks, not included elsewhere:
10
Long-term
Short-term '0
.
___ 1
Allocations of special drawing rights
Statistical discrepancy (sum of above items with sign reversed)
76
77
78
79
Memoranda:
Balance on merchandise trade (lines 2 and 18)
Balance on goods and services (lines 1 and 17)u
Balance on goods, services, and remittances n(lines 77, 35, and 36)
Balance on current account (lines 77 and 33)
70
71
37.068
20 253
16, 815
36, 436
2 525
IV P
-305
U.S. official reserve assets, net _
Gold
Special drawing rights
Reserve position in the International Monetary Fund .
Foreign currencies
64
65
66
67
68
69
69, 835
' 44, 429
1,927
2 239
524
2,491
1 230
284
1,064
152
III"
II
-5, 666
38
39
40
41
42
54
55
71, 694
80, 328
' 44, 610 ' 51, 699
1,692
1, 575
2 361
1 885
515
704
2,470
2,556
1,396
1 265
288
296
1,094
1,066
70
177
64 665
41 330
2,000
1 850
413
2,276
1 150
282
1,067
123
r
I
IV
III
II
-333,810 —61,650 -68,495 -73,203
—249, 135 r — 46, 536 '-51, 299 ••-54, 121
—2 029
—2 135
— 10 779
—2 029
—10,384
—2, 575
—3, 187
— 1 708
—3, 533
-652
-948
-866
—2 545
—2 437
—2 780
— 10 981
-505
— 102
-105
-110
—252
—59
—57
—58
—2 980
—682
—690
—690
—1 767
357
—596
351
—6 033
-2,303
-3, 730
— 16 361
-11,066
-1,133
—65
-1,136
-189
257
52
53
19 30
1980 v
1979
(Credits +; debits -) »
Transactions in U.S. official reserve assets and in foreign official assets
in the United States:
80
Increase (— ) in U.S. official reserve assets, net (line 38)
81
Increase (+) in foreign official assets in the United States (line 57 less
line 61) .
http://fraser.stlouisfed.org/
Federal Reserve Bank of St. Louis
-8, 155
n.a.
13
— 46,608
—3
—5
—1
—4
—1
235
973
900
073
001
12
12
-2, 442
13
6, 181
13
12
935
— 7, 839
13
12
— 932
— 16,997
13
410
— 7, 213
12
12
479
13—274
37,575
47,626
2,201
6,407
24,941
4,025
7,194
7,949
11,763
20,720
-14,271
—21 891
—22, 356
465
—714
7,219
1,116
16, 179
11 827
9,640
2 187
1,375
-84
3 061
—8 744
—8 757
—8 752
_5
—128
-72
213
-10,095
—12 765
-12, 859
94
122
2,354
195
5,789
5 359
5,024
335
216
56
158
-1,221
—5, 728
—5, 769
41
—924
4,881
550
-7, 215
—4, 556
—5, 357
801
181
-3, 185
345
7,775
4,564
4,314
250
737
1,652
822
7,991
4,318
3,769
549
242
2,006
1,425
7,628
7,501
6,914
587
215
-557
469
51, 845
9,713
5 984
3 730
14
4, 830
2,942
31, 446
8,204
2 357
5 848
14
2, 693
7,443
10 945
1 120
482
638
14
2 564
803
16, 502
2, 812
1 808
1,004
-120
1,149
19, 152
3,217
2 133
1 085
1,466
677
5,246
2,564
1,561
1,002
14
920
313
14, 409
1,666
500
1,166
" 3, 278
2,427
174
3,082
2,008
1,074
-1,225
1,194
3,771
2,437
38
2,399
-254
990
13,092
1,020
-189
1,209
894
2,832
12
12
12
1, 692
n.a.
12
— 543
12
579
12
606
12
1, 050
12
683
1, 331
405
n.a.
—4, 208
194
8,346
8,802
6,355
1,152
7,074
18,735
6,911
2,886
—9, 511
—1,509
-2, 024
-2,902
—7 799
2,117
1,440
553
—11,109
—619
—1, 179
-2, 426
-5, 847
651
81
-681
—5 796
1,614
1,051
102
-4, 602
5,431
4,671
3,123
322
2 779
-649
—3, 268
502
-1,109
-4, 279
—10 216
5 573
—297
—7 396
7 038
7 749
7 413
32, 668
1,139
23, 765
10, 687
1 152
35 605
7,001
1 139
2 948
12, 082
13, 185
400
9,207
2,809
-29, 386
4,961
2,819
-705
—27 354
7 077
4 625
118
—5 206
3 014
2, 555
1,695
—6, 870
1, 340
849
-50
-1, 133
—8, 155
—3 585
—13,556
14 804
—8 616
SURVEY OF CUERENT BUSINESS
March 1981
51
Table 2.-—U.S. International Transactions—Seasonally Adjusted
[Millions of dollars]
Line
19'r9
(Credits -f; debits -) 1
I
1 Exports of goods and services 2
2
3
4
5
g
7
8
Q
10
11
12
13
14
15
Merchandise, adjusted, excluding military 3
Transfers under U.S. military agency sales contracts
Travel
Passenger fares
_ _ _ _ _
Other transportation.
_ _ __
Fees and royalties from affiliated foreigners
__
Fees and royalties from unaffiliated foreigners
Other private services
U.S. Government miscellaneous services
Receipts of income on U.S. assets abroad:
Direct investment
Interest, dividends, and earnings of unincorporated affiliates
Reinvested earnings of incorporated affiliates _
Other private receipts
U.S. Government receipts
__
___
16
Transfers of goods and services under U.S. military grant programs, net
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
Imports of goods and services
Merchandise, adjusted, excluding military 3 _
_ _
Direct defense expenditures
Travel
Passenger fares _
_
Other transportation
Fees and royalties to affiliated foreigners
Fees and royalties to unaffiliated foreigners
_ _ _ _ _ _ _ __
Private payments for other services
U.S. Government payments for miscellaneous services
Payments of income on foreign assets in the United States:
Direct investment
_ _ _ _ _ _ _ _
Interest, dividends, and earnings of unincorporated affiliates. _ _ _
Reinvested earnings of incorporated affiliates
Other private payments
_ _ _ _ _
_ _ _
U S Government payments
32
33
34
35
36
U.S. military grants of goods and services, net
_
Unilateral transfers (excluding military grants of goods and services) , net
U.S. Government grants (excluding military grants of goods and services)
U.S. Government pensions and other transfers
_ _ _ _
Private remittances and other transfers
37
U.S. assets abroad, net (increase/capital outflow (— ))
_ _.
II
74 782
78 307
85 521
81 767
86 015
87 586
r 50 239
1 575
2 190
591
2 562
1 276
296
1 094
77
54 604
1 497
2 335
610
2 737
1 381
307
1 135
91
54 605
1 75S
2 453
56 181
2 093
2 529
683
2,692
1,480
320
1 167
114
56 391
2 122
2 668
7 991
4 072
3 919
5 723
549
8 892
4 447
4 445
5 833
'525
10 924
5 576
5 348
6 519
607
008
306
702
786
613
11 578
5*923
5 655
8 689
557
6 918
3 511
3,407
9 129
8 841
5 187
3 654
10 277
573
9 731
5,632
4,099
8,342
683
29
49
88
139
144
155
125
211
62 938
r_ 46 922
—2,029
—2 240
—744
2 513
—102
—57
—682
—424
67 864
r_50 876
—2 029
2 389
—763
2 530
—110
—58
—690
—440
72 268
r— 54 259
—2 135
— 2 371
—796
2 677
—105
—59
—690
—445
78 490
r— 59 397
—2 275
—2 413
—797
2 746
—154
—61
—717
—406
86 330
—65 452
—2 419
—2 689
—832
—2 832
— 129
—82 882
—62 108
—2,752
— 2 462
—868
— 2 784
—160
—79, 995
—59, 039
-2, 729
—2 593
-940
—2 599
-101
—84 603
—62 536
-2, 880
—2 640
—893
—2 766
— 114
-63
-63
-64
—733
—420
—743
-424
—744
-487
-760
-436
—1 155
—517
—638
—3 307
2 763
— 1 540
—535
1 004
—3 694
2 746
— 1 703
—618
—1 085
—4 285
2 743
— 1 635
—633
—1 002
—5 075
2 814
—1 761
—595
—1 166
—5 948
—3 053
—2 157
-1,083
— 1 074
—5, 424
—2 937
—3, 151
-752
—2 399
-4, 567
—2 982
—1, 783
-574
—1, 209
-6, 201
—3 530
-29
1 324
-860
—265
— 199
—49
1 383
-899
—288
196
—88
— 1 407
-878
—304
—225
-139
—1 552
-887
—330
—335
— 144
—1 812
-1, 247
-309
—256
-155
—1 326
-762
—312
—252
-125
—1,527
-949
-331
—247
-211
—2 296
-1, 549
-336
—411
—7, 768
— 15 300
-25,215
— 13,492
-12,706
-25, 708
-19,135
-26, 951
—3 585
322
2 779
—3 268
502
-1,109
-4, 279
—1, 142
—86
—2, 357
6
—78
394
—649
-65
-1, 152
—52
2 831
27
—611
112
-99
489
-261
-294
-554
1,285
-1, 240
-4,324
—991
—1 900
893
16
—766
— 1 806
998
42
—925
—2 071
1 141
5
—1 467
—2 615
—1, 191
-2, 366
1 112
—1, 374
-2, 467
1 109
-1,079
-2, 250
1,111
63
—16
60
228
156
808
348
143
—11 918
—4 129
573
—4 702
—986
—7,971
—5 458
- 25, 019
—2 869
-16,652
—4 058
197
538
41
—5, 655
-765
—3, 407
-1, 246
-4, 099
-805
-21, 593
-8, 207
-4, 553
-3, 654
-371
-932
12410
—1, 474
12147
12479
-16,997
13 —7, 213
is —274
i3 —21,051
13 —12,268
13 —13,015
47
48
49
50
51
U.S. private assets, net
.
_
- ___
Direct investment
Equity and intercompany accounts
Reinvested earnings of incorporated affiliates.
_ _
Foreign securities _
__
_
U.S. claims on unaffiliated foreigners reported by U.S. nonbanking concerns:
Long-term
._ .
}
Short-term
U.S. claims reported by U.S. banks, not included elsewhere:
Long-term
}
Short-term
—3
—5
—1
—3
—1
Foreign official assets in the United States, net
U.S. Government securities6
U.S. Treasury securities
Other 7
Other U.S. Government liabilities 8
U.S. liabilities reported by 9U.S. banks, not included elsewhere
Other foreign official assets ._
_.
___
. _
_ . _
Other foreign assets in the United States, net
Direct investment
Equity and intercompany accounts. .
Reinvested earnings of incorporated affiliates
U.S. Treasury securities .
.
U.S. securities other than U.S. Treasury securities
U.S. liabilities to unaffiliated foreigners reported by U.S. nonbanking concerns:
70
Long-term
_
_
>
71
Short-term.
U.S. liabilities10 reported by U.S. banks, not included elsewhere:
72
Long-term
|
73
Short-term '°
_
74 Allocations of special drawing rights
75 Statistical discrepancy (sum of above items with sign reversed)
75a
Of which seasonal adjustment discrepancy
Memoranda:
76 Balance on merchandise trade (lines 2 and 18) 11
77 Balance on goods and services (lines 1 and 17)
78 Balance on goods, services, and remittances (lines
77, 35, and 36)
79 Balance on current account (lines 77 and 33)n
Transactions in U.S. official reserve assets and in foreign official assets in the
United States:
80
Increase (— ) in U.S. official reserve assets, net (line 38)
. _
81
Increase (+) in foreign official assets in the United States (line 57 less line 61)
64
65
66
67
68
69
SeeFRASER
footnotes on page 61.
Digitized for
TV*
r 47 207
1 692
2 051
540
2 419
1 305
288
1 066
164
—1 102
— 1 875
820
—47
Foreign assets in the United States, net (increase/capital inflow (+))
III'
II r
67 764
U.S. Government assets, other than official reserve assets, net
U.S. loans and other long-term
assets
Repayments on U S loans 5
U.S foreign currency holdings and U.S. short-term assets net
57
58
59
60
61
62
63
Ir
r 42 816
1 927
2 126
527
2 392
1 229
284
1 064
149
43
44
45
46
56
IV
65 668
U.S. official reserve assets, net 4
- _
Gold
_
Special drawing rights
__
Reserve position in the International Monetary Fund
Foreign currencies
54
55
III
r 41 806
2 000
1 968
498
2 420
1,232
282
1 067
132
38
39
40
41
42
52
53
19*JO
12
081
819
900
919
001
—14 631
7 214
—2 769
—4 445
—513
—2, 442
12935
13
6, 181
13 -7,839
—27
—7
—1
—5
—2
12
13
10
5
4
7
-62
—34
—2, 082
977
171
12
642
2 742
1,393
315
1 162
77
647
2 870
1,474
323
1 181
80
712
n.a.
2 201
6 407
24, 941
4,025
7,194
7,949
11,763
20,720
-8, 744
—8 757
-8, 752
—5
-128
-72
213
—10,095
—12 765
—12,859
94
122
2,354
195
5,789
5 359
5,024
335
216
56
158
-1,221
—5, 728
-5,769
41
-924
4,881
550
-7, 215
-4,556
-5,357
7,775
4,564
4,314
7,991
4,318
3,769
801
181
250
737
549
242
-3, 185
1,652
2,006
1,425
7,628
7,501
6,914
587
215
-557
469
10, 945
1 120
482
638
14
2, 564
803
16, 502
2,812
1,808
1 004
-120
1,149
19, 152
3,217
2,133
1,085
1,466
677
5,246
2,564
1,561
1,002
1*920
313
14,409
1,666
174
3,771
2,437
12 —543
12
579
12
606
12 1, 050
7, 001
1,139
3,022
74
12, 082
13, 185
400
10,375
1,168
-833
-3, 642
11,202
2,400
-5, 116
2,730
2,266
1,406
-8,060
-100
-584
-1,483
-7, 052
2,514
1,985
1,107
-3, 585
-8,616
322
-10, 216
2,779
5,573
345
500
1,166
i* 3, 278
2,427
i2
822
3,082
2,008
1,074
-1,225
1,194
38
2,399
-254
990
13,092
1,020
-189
1,209
894
2,832
12 405
683
0
VAC
6,355
1,152
6,981
—4, 208
-93
20,200
1,465
2,879
-4,032
5,544
2,658
-9, 158
-183
-848
-1, 735
-10,848
-809
-1, 374
-2,621
-7, 503
-1,115
-1, 679
-2, 441
-2,858
6,020
5,442
4,493
-6, 145
2,983
2,236
687
-649
-297
-3, 268
-7, 396
502
7,038
-1,109
7,749
-4,279
7,413
SURVEY OF CUEEENT BUSINESS
52
March 1981
Table 3.—U.S. Merchandise Trade
[Millions of dollars]
Not seasonally adjusted
1979 ' 1980 *
Line
II
III
IV
Ir
II '
1980
1979 '
1980
1979 '
I
Seasonally adjusted
III'
IV *
I
II
III
IV
Ir
III'
II'
IV v
1
A
Balance of payments adjustments to Census
trade data:
EXPORTS
1
Merchandise exports, Census basis * including reexports and excluding military
grant shipments
81,860 20,626 41,119 44,461 44,705 51,575 52,999 56,590 52,927 58,110 41,226 42,925 47,310 50,394 52,669 54,654 56,181 57,180
Adjustments:
2
3
4
5
6
7
8
9
153
Private gift parcel remittances
202
Gold exports, nonmonetary.
159
317
Inland U.S. freight to Canada..
899 1,043
U.S.-Canadian reconciliation
adjustments, n.e.c., net 2
2,217 2,613
Merchandise exports transferred under
U.S. military agency sales contracts
identified in Census documents 3
-3, 229 -3, 318
Other adjustments, net 4
9
298
Of which quarterly
seasonal adjustment
5
discrepancy
Equals: Merchandise exports, adjusted to
balance of payments basis, excluding
"military" (table 1, line 2)
35
9
202
34
50
225
33
77
227
51
23
245
37
77
250
43
19
275
50
35
255
72
186
263
35
9
208
34
50
208
33
77
241
51
23
242
37
77
262
43
19
257
50
35
265
72
186
259
526
581
524
586
585
623
624
781
526
581
524
586
585
623
624
781
-885
324
-823
-99
-728
-53
-702
620
-728
-329
-702
1,676
-899
-92
-276
1,056
53
-793
-163
-899
-145
-739
100
-978
-277
-885
687
363
-823
-159
-60
-793
-185
-22
-978
-739
-235 -1, 109
-335
-832
82,068 221,781 41,330 44,429 44,610 51,699 53,866 56,506 53,252 58,157 41,806 42,816 47,207 50,239 54,604 54,605 56, 181 56,391
IMPORTS
10
Merchandise imports, Census basis l
(general imports)
_. _ . .
09,458 244,871 46,011 50,825 53,904 58,718 62,993 61,729 58,193 61,956 47,114 49,821 54,273 58,270 63,868 60,706 58,792 61,644
Adjustments:
11
12
Gold imports, nonmonetary
U.S.-Canadian reconciliation
13
Merchandise imports of U.S. military
agencies
identified in Census documents 3
Other adjustments, net 6
Of which quarterly seasonal adjustment
discrepancy ^
14
15
16
Equals: Merchandise imports, adjusted to
balance of payments basis, excluding
"military" (table 1, line 18)
B
Merchandise trade, by area, adjusted to
balance of payments basis, excluding
military:?
EXPORTS
2,749
237
353
290
527
1,154
637
736
222
237
353
290
527
1,154
637
-193
782
-400
1,915
-36
324
-44
165
-51
-22
-62
315
-78
906
-136
123
-124
243
-62
643
-36
-393
-44
746
-51
-253
-62
662
-78
508
-136
901
-124
-365
-62
732
-717
581
778
-608
89
-231
347
-398
736
11,454 249, 135 46,536 51,299 54, 121 59,498 64,975 62, 353 59,048 62,759 46,922 50,876 54,259 59,397 65,452 62,108 59,039 62,536
82,068 221,781 41,330 44,429 44,610 51,699 53,866 56,506 53,252 58,157 41,806 42,816 47,207 50,239 54,604 54,605 56,181 56,391
1 Total, all countries (A-9)
2
3
4
5
6
7
222
1,407
adjust-
Western Europe
_ _
European Communities (9)
United Kingdom
European Communities (6)._
Germany
Western Europe, excluding EC (9)
54, 101
42,398
10, 795
30, 165
8,672
11,703
67, 692 12,537 13, 130 12,582 15, 852 18, 286 17,888 15, 121 16,397 12,374 12,786 13,584 15, 357 18, 034 17,333 16,338 15, 987
53, 638 10, 010 10,015 9,983 12,390 14,300 14,338 12, 115 12,885 9,905 9,754 10, 689 12, 050 14, 171 13,919 13,005 12,543
12,614 2,563 2,564 2,634 3,034 3,228 3,662 2,699 3,025 2,579 2,452 2,811 2,953 3,278 3,487 2,905 2,944
39,372 7,074 7,110 7,035 8,946 10,635 10,266 9,031 9,440 6,968 6,957 7,527 8,713 10,475 10,024 9,669 9,204
10, 786 2,156 2,009 1,982 2,525 2,950 2,818 2,481 2,537 2,057 2,006 2,184 2,425 2,801 2,805 2,74: 2,439
14, 054 2,527 3,115 2,599 3,462 3,986 3,550 3,006 3,512 2,469 3,032 2,895 3,307 3,863 3,414 3,333 3,444
1,486
9,866
996
8,649
1,452
9,463
1,558
8,615
1,989
9,558
750
1,229
9,637 10, 158
685 1,395
9,231 10, 178
825
8,745
1,255
8,755
1,844
9,489
2,071
9,296
1,085
9,761
686
802
9,430 10, 147
11
Eastern Europe _
_ _ . 5,995 4,059
Canada 2
36,285 39,204
Latin American Republics and other
28,555 38, 811
Western Hemisphere
9,931 15, 197
Mexico
6,008
2,060
6,851
2,447
7,255
2,492
8,441
2,932
8,152
3,059
9,810
3,727
9,885 10, 964
3,882 4,529
6,368
2,110
6,787
2,377
7,376
2,581
8,024
2,863
8,697
3,125
9,699 10,057 10,358
3,625 4,020 4,427
12
13
14
Japan
17, 628 20,806
Australia, New Zealand, and South Africa. 5,434 7,117
Other countries in Asia and Africa
34, 070 44, 092
4,220
1,177
7,743
4,108
1,336
8,089
4,559
1,265
8,776
4,741 5,033 5,203 5,193 5,377
1,656 1,461 1,712 1,820 2,124
9,462 10,068 10,985 11,317 11,722
4,112
1,177
8,205
4,177
1,337
7,719
4,754
1,265
8,895
4,585 4,902 5,260 5,482 5,162
1,655 1,461 1,712 1,820 2,124
9,251 10,664 10,485 11,535 11,408
8
9
10
15
16
17
Memoranda:
Industrial countries 77
Members of OPEC
Other countries 7
18
Total, all countries (A-16).
113,448 134,819 26, 583 28, 037 27, 021 31,807 34,417 34, 961 31,365 34, 076 26,408 27,055 29,092 30, 893 34, 158 33, 735 33, 787 33, 139
14,534 17, 362 3,303 3,532 3,763 3,936 3,856 4,268 4,474 4,764 3,534 3,416 3,784 3,800 4,137 4,139 4,490 4,596
48,091 65,541 10,448 11,408 12,268 13, 967 14,364 16,527 16,728 17,922 11,039 11,090 12,487 13, 475 15,224 16,045 17, 102 17, 170
IMPORTS
._ .
211,454 249, 135 46,536 51,299 54, 121 59,498 64,975 62,353 59,048 62,759 46,922 50,876 54,259 59,397 65,452 62,108 59,039 62,536
9,242 10, 615 10, 398 11 571 12, 331 11,898 11,654 11,352
7,239 8,540 8,356 9,087 9,346 9,207 8,801 8,723
1,657 1,984 2,064 2,304 2,425 2,300 2,562 2,561
5,332 6,297 6,054 6,504 6,639 6,633 5,976 5,844
2,409 2,922 2,732 2,890 3,098 3,115 2,829 2 631
2,003 2,075 2,042 2,484 2,985 2,691 2,853 2,629
9,384 10,492 10,577 11,373 12, 513 11,765 11,811 11, 146
7,413 8,448 8,447 8,914 9,573 9,084 8,872 8,548
1,735 1,917 2,086 2,271 2,533 2,215 2,589 2,511
5,431 6,277 6,108 6,371 6,759 6,600 6,007 5,726
2,462 2 841 2,799 2,851 3,163 3,018 2,885 2,607
1,971 2,044 2,130 2,459 2,940 2,681 2,939 2,598
19
20
21
22
23
24
Western Europe
European Communities (9)
United Kingdom
European Communities (6)
Germany
Western Europe, excluding EC (9)__
41,826
33, 222
8,009
24, 187
10, 953
8,604
25
26
27
1,896 1,444
38, 655 42,423
315
9,119
433
9,883
334
631
517
9,111 10,542 11,164
346
9,902
368
396
9,462 11,895
315
9,201
434
9,386
334
630
517
9,826 10,242 11,254
28
E astern 2Europe .
Canada
Latin American Republics and other
Western Hemisphere.- _
Mexico
30, 535 37,389
8,801 12, 580
6,657
1,904
7,189
2,096
7,828
2,148
9,933
3,133
9,092
3,313
8,705
2,883
9,659
3,25!
6,556
1,854
7,182
2,027
7,914
2,296
29
30
31
Japan
26,261 31,217 6,271 6,571 6,616 6,803 7,287 7,984 7,949 7,997 6,306 6,494 6,554 6,907 7,348 7,886 7,870 8,113
Australia, New Zealand, and South Africa. 5,493 6,533 1,229 1,466 1,422 1,376 1,656 1,610 1,482 1,785 1,228 1,466 1,422 1,377 1,656 1,610 1,482 1,785
66,788 82, 894 13, 703 15, 142 1 18,229 19, 714 22,270 21,521 19, 40C 19, 703 13, 932 15, 422 17, 449 19, 985 22,528 21, 949 18,504 19,913
Other countries in Asia and Africa
32
33
34
Memoranda:
Industrial countries77
Members of OPEC
Other countries 7
See footnotes on page 61.
47, 235
36, 077
9,848
25,092
11,673
11, 158
8,861
2,653
8,883
2,624
9,819
3,112
368
395
347
9,422 10, 191 11, 556
9,129
3,324
8,786
2,839
9, 655
3,305
112,235 127,408 25,861 28,535 27, 547 30, 292 32, 438 31,394 30, 547 33, 029 26, 119 27, 838 28, 379 29, 899 32, 771 30,683 31,354 32, 600
45, 039 55,602 8,765 9,865 12, 487 13, 922 15.298 14, 312 12, 56C 13, 432 8,736 10, 254 12,085 13,964 15, 268 14,841 12, 111 13, 382
51,098 63,394 11,373 12, 113 13,317 14,295 16,056 15,863 15, 545 15,930 11,530 11,997 13,025 14, 546 16,230 15, 799 15, 179 16, 186
SURVEY OF CURRENT BUSINESS
March 1981
53
Table 3.—U.S. Merchandise Trade—Continued
[Millions of dollars]
Not seasonally adjusted
Line
1979' 1980 v
Merchandise trade, by area, adjusted to
balance of payments basis, excluding
military— Continued
35
Total, all countries . . .
1980
1979'
I
B
Seasonally adjusted
II
III
IV
Ir
II '
1980
1979 '
III'
IV v
I
II
IV
III
Ir
II '
III'
IV P
BALANCE (EXCESS OF EXPORTS+)
-29,386 -27,354 -5,206 -6,870 -9,511 -7,799 -11,109 -5,847 -5,796 -4,602 -5,116 -8,060 -7,052 -9, 158 -10,848 -7,503 -2,858 -6,145
36
37
38
39
40
41
Western Europe
European Communities (9) _
United Kingdom
European Communities (6)
Germany.-.
Western Europe, excluding EC (9)
12,275 20, 457
9,176 17, 561
2,786 2,766
5,978 14,280
-2, 281 -887
3,099 2,896
3,295
2,771
906
1,742
-253
524
2,515
1,475
580
813
-913
1,040
2, 184
1,627
570
981
-750
557
4,281
3,303
730
2,442
-365
978
5,955
4,954
803
3,996
-148
1,001
5,990
5,131
1,362
3,633
-297
859
42
43
44
Eastern 2Europe
4,099 2,615
Canada
_
-2, 370 -3, 219
Latin American Republics and Other
Western Hemisphere .
-1,980 1,422
Mexico
1,130 2,617
681
-470
1,019
-420
1,041
-496
1,358
895
-984 -1,527
-649
156
-338
351
-573
344
-420 -1, 781
-74
279
45
46
47
48
49
50
51
C
5,045
4,162
464
3,596
-94
883
2,990
2,492
844
1,537
-405
498
2,294
1,306
535
680
-835
988
3,007
2,242
725
1,419
-615
765
3,984
3,136
682
2,342
-426
848
5,521
4,598
745
3,716
-362
923
5,568
4,835
1,272
3,424
-213
733
404
256
289 1,027
-231 -1,717
510
-456
821
-631
1,327
-337
1,441
751
-946 -1,493
339
8
718
414
1,180
999
-188
256
-395
350
-538
285
-859 -1, 122
239
13
570
301
3,467
3,314
137
3,055
-348
153
1,305
1,278
4,527
4,133
316
3,662
-144
394
4,841
3,995
433
3,478
-168
846
407 1,118
-44 -1, 690
1,271
1,181
703
1,122
Japan
.
-8,633 -10,411 -2,051 -2, 463 -2,057 -2, 062 -2,254 -2, 781 -2, 756 -2, 620 -2, 194 -2, 317 -1, 800 -2, 322 -2, 446 -2, 626 -2,388 -2,951
Australia, New Zealand, and South
339
Africa
102
-52 -130
102
-157
338
-59
584
280 -195
339
278 -195
-157
338
-51 -129
Other countries in Asia and Africa
-32,718 -38,802 -5,960 -7, 053 9 453 10 252 12 202 -10,536 -8, 083 -7,981 -5, 727 -7, 703 -8, 554 -10,734 -11,864 -11,464 -6,969 -8,505
Memoranda:
Industrial countries77
Members of OPEC
Other countries 7
539
994 1,387 3,052 2,433
713
1,213 7,411
722 -498
-526
1,515 1,979 3,567
289 -783
818 1,047
-30,505 -38,240 -5, 462 -6,333 -8, 724 -9, 986 -11,442 -10,044 -8, 086 -8,668 -5,202 -6,838 -8,301 -10,164 -11,131 -10,702 -7,621 -8,786
984
246 1,923
-3, 007 2,147 -925
-538 -1,071 -1,006
664 1,183 1,992 -491
-907
-705 -1,049 -328 -1,692
Merchandise trade, by principal end use
category, adjusted to balance
of payments
basis, excluding military.2
EXPORTS
1 Total (A-9)
2
3
4
5
6
7
182, 068 221,781 41,330 44,429 44,610 51,699 53,866 56, 506 53,252
58, 157 41,806 42,816 47,207 50,239 54,604 54,605 56, 181 56,391
35, 416 41, 979 7, 822 8,057 8,378 11, 159 10, 504 9,863 9,668 11, 944 7,662 7,947 9,376 10, 431 10, 307 9,658 10, 880 11, 134
146, 652 179, 802 33, 508 36, 372 36, 232 40, 540 43,362 46, 643 43, 584 46, 213 34, 144 34, 869 37, 831 39, 808 44, 297 44, 947 45, 301 45, 257
Agricultural products
Nonagricultural products _
Foods, feeds, and beverages
29, 809 35, 519
Foods, feeds, and beverages— agricultural
28, 628 34, 434
Grains
. . 16, 695 20, 795
5,734 5,884
Soybeans
6,232
6,651
7,417
9,509
8,279
8,131
8,624 10, 485
6,397
6,578
8,130
8,704
8,460
7,932
9,516
9,611
6,063
3,082
1,607
6,402
3,730
1,177
6,983
4,684
902
9,180
5,199
2,048
8,135
4,862
1,599
7,864
4,567
1,431
8,254 10, 181
5,312 6,054
1,098 1,756
6,156
3,226
1,467
6,265
3,788
976
7,809
4,590
1,676
8,398
5,OJ1
1,615
8,260
5,078
1,408
7,600
4,601
1,133
9,244
5,190
2,019
9,330
5, 926
1,324
57, 755 71, 253 12, 566 14, 015 14, 576 16, 598 17, 553 19,517 16, 843 17, 340 12,623 13, 531 14, 754 16, 847 17, 664 18, 946 17,073 17, 570
6,298 7,014 1,670 1,515 1,253 1,860 2,241 1,843 1,282 1,648 1,417 1,541 1,424 1,916 1,919 1,902 1,504 1,689
51, 457 64, 239 10, 896 12, 500 13, 323 14, 738 15, 312 17, 674 15, 561 15, 692 11, 206 11,990 13, 330 14, 931 15, 745 17 044 15, 569 15, 881
6,678 8,775 1,368 1,635 1,764 1,911 1,716 2,424 2,231 2,404 1,5,9 1,526 1,741 1,812 2,004 2,287 2,204 2,280
793
564
688
444
520
686
. . 1,971 2,848
681
704
695
788
443
423
526
561
461
661
561 1,239
5,109 4,046
903 1,139 1,308 1,759 1,009 1,237
903 1,139 1,308 1,759 1,009 1,237
561 1,239
8
9
10
11
12
13
Industrial supplies and materials
Agricultural
Nonagricultural
Fuels and lubricants
Petroleum and products
Nonmonetary gold
14
15
16
17
Capital goods, except automotive
Machinery, except consumer-type
Civilian aircraft, complete — all types
Other transportation equipment
18
19
20
Automotive vehicles, parts, and engines.. 17, 441 16, 822
To Canada s
.
11, 056 9,831
To all other areas
6,385 6,991
4,391
2,909
1,482
4,713
3,134
1,579
3,729
2,248
1,481
4,608
2,765
1,843
4,296
2,604
1,692
4,219
2,445
1,774
3,631
1,986
1,645
4,676
2,796
1,880
4,344
2,831
1,513
4,339
2,791
1,547
4,341
2,729
1,613
4,417
2,705
1,712
4,303
2,575
1,728
3,881
2,155
1,726
4,122
2,384
1,739
4,516
2,717
1,798
21
Consumer goods (nonfood), except automotive
All other, including balance of payments
adjustments, not included in lines C 4-21
2,929
3,176
3,076
3,443
4,625
3,958
3,840
4,026
2,972
3,022
3,208
3,422
4,682
3,761
3,994
4,012
1,691
1,502
1,320
1,774
2,477
1,954
1,975
1,910
1,727
1,427
1,424
1,709
2,520
1,862
2,106
1,828
22
58, 152 73, 422 13, 521 14, 372 14, 492 15, 767 16, 636 18, 727 18, 339 19, 720 13, 743 13, 919 15, 350 15, 140 16, 975 18, 223 19, 370 18, 854
46, 570 57, 782 10, 773 11, 692 11, 464 12, 641 13, 176 14, 778 14, 615 15, 213 10, 835 11, 364 11, 928 12, 443 13, 258 14, 394 15, 178 14, 952
6,244 8,346 1,477 1,337 1,755 1,675 1,845 2,086 1,941 2,474 1,606 1,267 2,089 1,282 2,063 2,034 2,328 1,921
364
408
250
383
319
421
211
985 1,474
285
239
260
261
245
219
333
389
331
12, 624 16, 449
6,287
8,316
IMPORTS
23
24
25
Total (A-16)
Petroleum and products
Nonpetroleum products
211,454 249, 135 46,536 51,299 54, 121 59,498 64,975 62,353 59,048 62,759 46, 922 50,876 54,259 59,397 65,452 62, 108 59,039 62,536
59, 999 78, 919 11, 637 12, 904 16, 618 18, 840 21, 624 20, 138 17, 865 19, 292 11, 592 13, 471 16,093 18, 843 21, 570 20, 957 17, 227 19, 165
151, 455 170, 216 34, 899 38, 395 37, 503 40, 658 43, 351 42, 215 41 183 43, 467 35, 330 37, 405 38, 166 40, 554 43, 882 41, 151 41, 812 43, 371
4,377
4,750
4,415
4,340
4,529
4,843
26
Foods, feeds, and beverages
27
28
29
Industrial supplies and materials
Fuels and lubricants
Nonmonetary gold
30
31
32
Capital goods, except automotive
Machinery, except consumer-type
Civilian aircraft, engines, parts
24, 584 30, 204
22, 591 26, 176
1,519 2,985
5,599
5,151
346
6,230
5,775
345
6,213
5,757
328
6,542
5,908
500
7,313
6,399
656
7,625
6,665
732
7,442
6,479
683
7,824
6,633
914
5,676
5,227
347
6,016
5,578
328
6,299
5,818
352
6,593
5,968
492
7,425
6,507
659
7,374
6,453
694
7,548
6,535
733
7,857
6,681
899
33
34
35
Automotive vehicles, parts, and engines . 25, 558 27, 062
From Canada
9,525 8,588
From all other areas
16, 033 18, 474
6,494
2,890
3,604
6,902
2,485
4,417
5,725
1,885
3,840
6,437
2,265
4,172
6,842
2,181
4,660
6,634
1,903
4 731
6,327
1,649
4,679
7,259
2,855
4,404
6,224
2,762
3,461
6,510
2,315
4,196
6,397
2,285
4,112
6,427
2,163
4,264
6,569
2,088
4,481
6,251
1, 758
4,493
7,028
2,031
4,997
7,214
2,711
4,503
36
Consumer goods (nonfood) except automotive
All other, including balance of payments
adjustments, not included in lines
C 26-36
6,831
7,323
8,281
8,131
8,010
8,461
9,122
8,852
7,339
7,417
7,810
8,000
8,569
8,545
8,607
8,724
975
851
667
1,013
1,423
868
1,022
1,485
1,03
831
654
990
1,488
844
1,010
1,456
37
See footnotes on page 61.
17, 366 18, 127
4,063
4,471
4,057
4,775
4,488
4,504
4,314
4,821
3,924
4,315
109, 874 134, 499 22 574 25, 522 29, 178 32, 600 36, 899 34, 261 30 821 32, 518 22, 728 25, 787 28, 722 32,637 36, 986 34, 754 30, 317 32, 442
64, 040 83,913 12, 513 13, 895 17 563 20, 069 23, 119 21, 462 18, 951 20, 381 12, 414 14, 454 17, 109 20,063 22, 965 22, 279 18, 418 20, 251
845
676 1,209 1,849 1,205 1,644
2,912 5,543
636
391
845
391
676 1,209 1,849 1,205 1,644
636
30, 566 34, 445
3,506
4,798
SURVEY OF CURRENT BUSINESS
54
March 1981
Table 3.—U.S. Merchandise Trade—Continued
[Millions of dollars]
Seasonally adjusted
Not seasonally adjusted
Line
1979' 1980 v
I
D
1
2
3
4
5
Merchandise exports, Census basis, including military grant shipments..
Foods, feeds, and beverages
10
Nonagricultural (fish, distilled beverages, etc.)
Agricultural
-Raw cotton, including linters
Tobacco, unmanufactured
Other agricultural industrial supplies
(hides, tallow, etc.) -- -
16
Nonagricultural
9,439
8,221
8,108
8,584 10,400
6,330
6,577
8,077
8,633
8,402
7,908
9,475
9,528
6,930
4,684
888
9,110
5,178
2,039
8,077
4,843
1,599
7,840
4,590
1,429
8,213 10, 096
5,323 6,038
1,097 1,755
6,089
3,207
1,454
6,265
3,824
979
7,756
4,590
1,662
8,327
5,070
1,606
8,201
5,059
1,408
7,575
4,624
1,131
9,203
5,201
2,019
9,247
5,910
1,323
6,045
7,552
1,339
1,456
1,358
1,893
1,635
1,821
1,794
2,302
1,428
1,462
1,504
1,652
1,734
1,821
1,983
2,014
1,181
1,087
169
249
434
329
144
268
371
305
241
312
321
306
202
333
272
281
6,286
2,213
1,183
7,000
2,880
1,334
1,663
560
296
1,513
574
239
1,253
421
201
1,857
657
448
2,234
1,002
359
1,841
874
312
1,281
500
230
1,645
504
433
1,410
452
258
1,540
474
352
1,424
463
249
1,913
823
324
1,912
861
303
1,900
765
454
1,503
589
275
1,685
665
302
2,891
2,786
807
700
631
752
873
656
550
707
699
714
711
766
748
681
639
718
51, 016 63, 594 10, 823 12, 370 13, 179 14,644 15, 165 17, 571 15,443 15, 416 11, 135 11,858 13, 185 14,837 15, 599 16, 940 15, 451 15, 604
-
24
25
26
Steel making materials
Iron and steel products
_
Other metals, primary and advanced,
including advanced steel
Precious metals (gold, silver,
platinum)
Capital goods, except automotive
.-
Machinery except consumer-type
43
44
Other transportation equipment
To Canada 8
To all other areas
45
46
47
Passenger cars, new and used
Trucks, buses, and special vehicles
Bodies, engines, parts and accessories,
n.e.c
48
Consumer goods (nonfood), except automotive
49
50
51
Consumer durables, manufactured
Consumer nondurables, manufactured. _
Unmanufactured consumer goods (gem
stones)
See footnotes on page 61.
2,231
1,328
695
873
953
1,004
1,263
1,417
1,289
717
821
3,922
943
3,924
887
4,268
995
4,715
935
4,502
1,002
4,272
735
3,150
4,973
695
842
3,316 3,819
14,498 17, 757
735
3,159
818
3,493
2,404
1,381
788
1,600
829
444
1,740
916
518
1,810
927
564
2,004
1,010
688
2,288
1,208
681
2,205
1,310
686
2,279
1,252
792
807
873
966
1,040
1,208
1,421
1,305
799
3,384
856
3,872
926
4,092
888
4,273
971
4,592
974
4,430
986
4,461
1, 526
835
444
8,502
9,647
1,919
2,147
2,235
2,201
2,443
2,672
2,287
2,246
1, 919
2,004
2,284
2,295
2,454
2,511
2,349
2,334
1,347
2,487
1,496
3,493
285
565
340
627
373
598
349
698
403
745
449
920
333
918
311
911
349
562
296
602
345
607
358
716
491
742
384
889
304
931
316
932
10,825 13, 634
2,098
2,468
2,594
3,666
3,699
4,134
2,819
2,982
2,103
2,440
2,608
3,674
3,708
4,098
2,838
2,991
987
1,182
1,319
2,133
1,920
2,028
763
1,278
987
1,182
1,319
2,133
1,920
2,028
763
1,278
5,621
5,989
57,510 72,600 13,363 14,207 14, 340 15, 600 16,453 18,521 18,144 19,483 13,585 13, 755 15, 197 14, 973 16,790 18, 018 19, 176 18,617
45, 999 57,050 10, 638 11,544 11,327 12,491 13,012 14, 601 14, 438 14, 999 10, 701 11, 216 11, 790 12, 293 13, 094 14, 217 15,001 14,738
Nonelectrical, including parts and
36,259 45, 234 8,418
attachments
Construction machinery and non7,815 9,958 1,801
farm tractors
Textile and other specialized in3,081 3,837
680
dustry machinery
Other industrial machinery, n.e.c. ._ 12, 577 15, 306 2,952
Agricultural machinery and farm
1,643 1,926
393
tractors
Business and office machines, com6,773 9,076 1,570
puters, etc
5,461 7,540 1,255
Electronic computers and parts
Scientific, professional, and service
4,370 5,131 1,022
industry equipment
Automotive vehicles, parts and engines
2,424
1,322
704
1,764
933
526
31
42
1,716
749
661
1,635
927
461
Electrical and electronic, including
parts and attachments
Civilian aircraft, engines, parts
Civilian aircraft, complete, all types. __
1,910
1,030
562
1,367
617
423
30
41
IV P
7,363
3,364
39
40
III'
II'
Ir
6,402
3,765
1,181
Paper and paper base stocks
37
38
IV
6,651
Textile supplies and materials
Chemicals excluding medicinals
Other nonmetals (minerals, wood,
rubber, tires, etc.)
36
III
6,165
21
22
23
34
35
II
5,996
3,063
1,594
20
33
I
28, 437 34,226
16, 691 20, 795
5,701 5,880
8,775
4,780
2,847
32
IV v
29, 618 35, 313
6,676
3,507
1,971
29
in>
II r
82,025 20,782 41, 129 44,499 44,765 51,632 53,042 56,608 52,999 58,134 41,599 42,903 47,348 50, 175 53, 767 54,725 55,919 56,372
Fuels and lubricants g
Coal and related fuels
Petroleum and products
28
I'
57, 302 70, 594 12, 486 13, 883 14, 432 16,501 17, 399 19, 412 16, 723 17, 061 12, 544 13, 398 14, 609 16, 751 17,511 18,840 16,954 17, 289
Industrial supplies and materials
12
13
14
15
27
IV
III
35, 213 41, 759 7,748 8,055 8,325 11, 086 10, 439 9,837 9,626 11,857 7,587 7,945 9,322 10, 359 10, 241 9,632 10, 838 11, 048
Agricultural products _ _ .
Nonagrictiltural pro ducts
46, 812 79, 023 33, 381 36,443 36, 441 40, 547 42, 603 46, 771 43, 373 46,277 34, 012 34, 958 38, 026 39, 816 43, 526 45,093 45, 080 45, 324
Excluding military grant shipments .. 46, 647 78, 867 33, 372 36,406 36, 380 40, 489 42,560 46, 753 43, 301 46, 253 34, 002 34, 920 37, 966 39, 759 43, 483 45, 075 45,009 45,300
6
7
8
9
17
18
19
II
1980
1979'
Merchandise trade,
by end-use category,
Census basis,1 including military grant
shipments:
Agricultural
-.
Grains and preparations
Soybeans
Other agricultural foods, feeds and
beverages
11
1980
1979'
9,740 11, 817
10, 531 14, 076
6,177 8,256
980
1,474
16,496 15, 858
2,220
2,470
1,459
2,475
2,403
2,641
3,094
2,254
2,404
2,483
2,600
9,069
8,923
9,850 10, 257 11,548 11,524 11, 904
2,756
2,037
2,031
1,946
2,106
782
3,093
748
2,983
870
3,550
853
3,559
3,053
2,914
2,801
2,966
3,010
3,040
8,447
8,812
9,307
9,693 10, 293 11, 251 11,991 11, 698
2,616
2,652
2,584
1,840
1,943
2,114
1,918
2,154
2,499
2,75
2,546
946
3,973
993
3,833
1,045
3,941
705
2,966
754
3,033
785
3,111
837
3,468
883
3,575
913
3,901
1,037
3,986
1,004
3,845
465
406
380
470
531
453
472
367
406
442
429
437
464
490
535
1,592
1,280
1,681
1,362
1,929
1,564
2,056
1,669
2,182
1,811
2,332
1,954
2, 506
2,105
1,562
1,255
1,622
1,311
1,733
1,399
1,856
1,496
2,047
1,668
2,227
1,858
2,401
2,007
2,402
2,007
1,100
1,074
1,175
1,212
1,301
1,261
1,357
1,008
1, 054
1,124
1,184 » 1,197
1,24
1,319
1,367
2,418
1,320
2,794
1,740
2,848
1,658
3,107
1,825
3,531
2,057
3,375
1,923
4,063
2,451
2,604
1,588
2,300
1,250
3,196
2,074
2,430
1,265
3,417
2,005
3,855
2,310
3,472
1,899
3,333
2,043
245
219
261
389
331
421
280
239
21
250
364
383
320
407
4,16
4,453
3,517
4,365
4,07
3,995
3,412
4,381
4,114
4,079
4,12
4,174
4,077
3,656
3,904
4,221
2,03
1,48
2,522
1,844
2,379
1,692
2,221
1,774
1,767
1,645
2,500
1,88
2,601
1,513
2,53
1,547
2,51
1,61
2,462
1,712
2,349
1,728
1,93
1,72
2,165
1,739
2,422
1,800
255
333
10, 111
6,385
8,866
6,992
2,679
1,48
2,874
1,579
4,72
3,330
4,010
3,052
1,09
79
1,34
91
88
76
1,39
85
1,16
71
1,12C
79
64
757
1,084
78
1,122
823
1,177
819
1,19
80^
1,231
887
1,204
750
97C
713
856
783
980
806
8,44
8,796
2,27
2,19
1,86
2,11
2,19
2,084
2,014
2,507
2,169
2,082
2,138
2,057
2,123
1,973
2,264
2,436
12,43
16,17
2,88
3,13
3,02
3,38
4,56
3,89
3,766
3,946
2,926
2,980
3,159
3,366
4,622
3,702
3,921
3,932
5,40
6,32
7,89
7,55
1,23
1,46
1,37
1,58
1,28
1,58
1,50
1,69
2,51
1,83
1,85
1,86
1,732
1,87
1,794
1,97
1,255
1,493
1,274
1,540
1,373
1,598
1,499
1,697
2,543
1,870
1,715
1,814
1,847
1,900
1,784
1,971
70
73
18
17
16
18
22
18
15
17
175
165
179
183
208
174
177
17
SUEVEY OF CUERENT BUSINESS
March 1981
55
Table 3.—U.S. Merchandise Trade—Continued
[Millions of dollars]
Not seasonally adjusted
1979 ' 1980 v
Line
1980
1979 '
I
II
IV
III
I'
52
Special category (military-type goods)
3,017
3,264
819
759
736
704
53
Exports, n.e.c., and reexports
5,651
6,977
1,253
1,412
1,351
1,636
2,426
3,225
2,863
4,115
533
719
618
794
601
750
674
962
54
55
Domestic (low-value, miscellaneous)
Foreign (reexports)
--
56
Merchandise imports, Census basis 1 ...
57
Foods feeds, and beverages
58
Coffee cocoa and sugar
59
60
61
62
Green coffee
Cane sugar
Other foods feeds, and beverages
II '
708
1,625
643
983
1980
1979 '
III'
IV P
I
II
IV
III
834
736
986
819
759
1,840
1,634
1,878
1,281
1,354
758
1,082
707
928
755
1,123
554
727
599
756
736
1,440
616
824
II'
I'
704
708
1,575
1,657
657
918
668
990
III'
834
736
IV P
986
1,767
1,754
1,799
735
1,032
726
1,028
735
1,065
09,458 44,871 46,011 50,825 53,904 58,718 62,993 61,729 58,193 61,956 46,397 50,402 54,042 58,617 63,470 61,484 58, 184 61,733
17,366 18, 127
_
Seasonally adjusted
4,063
4,471
4,057
4,775
4,488
4,504
4,314
4,821
3,924
4,315
4,376
4,750
4,415
4,340
4,529
4,843
5,349
6,255
1,247
1,311
1,274
1,517
1,527
1,628
1,506
1,594
1,034
1,232
1,483
1,600
1,381
1,557
1,614
1,703
3,820
974
3,872
1,988
834
167
894
301
964
205
1,128
302
1,101
338
1,070
419
867
555
835
676
644
216
833
286
1,190
150
1,152
323
883
443
1,030
402
1,097
412
863
730
12, 017 11, 872
2,816
3,160
2,783
3,258
2,961
2,876
2,808
3,227
2,890
3,083
2,893
3,151
3,034
2,783
2,915
3,139
07,733 30, 966 22, 169 24, 984 28, 703 31, 877 35, 496 33, 479 29, 937 32, 054 22, 323 25, 249 28, 247 31, 914 35, 583 33,972 29,433 31, 978
Industrial supplies and materials
63
64
Fuels and lubricants 9
Petroleum and products
65
Paper and paper base stocks
4,801
5,269
1,134
1,195
1,178
1,294
1,382
1,371
1,226
1,290
1,132
1,175
1,196
1,297
1,380
1,352
1,247
1,290
66
Materials associated with nondurable
goods and farm output, n.e.s
Textile supplies and materials
Tobacco unmanufactured
Chemicals excluding medicinal
Other (hides, copra, materials for
making photos drugs, dyes)
9,253 10, 175
1,851 2,040
439
455
4,531 5,187
2,169
462
156
941
2,449
486
122
1,224
2,275
454
98
1,152
2,360
449
63
1,215
2,617
549
126
1,325
2,717
545
172
1,388
2,298
461
91
1,155
2,543
485
66
1,319
2,085
458
118
919
2,330 2,405
472
463
100
144
1,171 1,200
2,432
458
77
1,242
2,532
543
97
1,299
2,586
531
143
1,330
2,435
467
134
1,212
2,622
499
82
1,346
2, 432
2,492
611
617
571
632
617
612
590
673
591
588
598
655
594
583
621
695
71
Building materials, except metals
4,840
3,734
1,090
1,338
1,282
1,129
1,029
868
892
945
1,185
1,262
1,217
1,176
1,112
810
838
973
72
Materials associated with durable goods
output, n e.s Steelmaking materials
Iron and steel products.
Other metals, primary and advanced,
including advanced steel
Precious metals (gold, silver,
platinum)
Nonmetals (oils^ gums, resins, minerals, rubber, tires, etc ) _
24, 911 28,000
2,202 2,161
7,759 7,559
5,289
362
1,683
6,138
619
1,880
6,437
638
2,111
7,047
584
2,085
7,406
425
1,888
7,054
663
1,970
6,570
550
1,750
6,970
523
1,951
5,532
506
1,751
6,058
594
1,946
6,352
556
2,080
6,968
547
1,981
7,651
566
1,958
6,937
637
2,017
6,497
478
1,717
6,915
479
1,867
10,650 13, 795
3,375 5,716
2,197
511
2,508
640
2,645
822
3,300
1,403
3,870
1,670
3,264
1,126
3,284
1,561
3,377
1,358
2,228
511
2,426
640
2,666
822
3,330
1,403
3,903
1,670
3,165
1,126
3,310
1,561
3,417
1,358
1,047
1,131
1,043
1,079
1,223
1,157
986
1,119
1,048
1,092
1,050
1,110
1,224
1,117
992
1,152
7,664
67
68
69
70
73
74
75
76
77
78
79
Capital goods, except automotive
63, 929 83, 789 12, 487 13, 864 17,530 20, 048 23, 062 21, 470 18, 950 20, 307 12, 388 14, 423 17, 076 20, 042 22, 908 22, 287 18, 417 20, 177
59, 888 78, 795 11,611 12, 873 16, 585 18, 819 21, 567 20, 146 17, 864 19, 218 11, 566 13, 440 16,060 18,822 21, 513 20, 965 17, 226 19, 091
..
Machinery, except consumer-type
4,300
4,485
24,584 29, 624
5,599
6,231
6,213
6 541
7,169
7,528
7,297
7,631
5,677
6,016
6,299
6,592
7,280
7,277
7,403
22, 591 26, 176
5,152
5,775
5,757
5,908
6,399
6,665
6,479
6,633
5,228
5,578
5,818
5,96
6,507
6,453
6,535
6,681
1,699
1,916
2,062
2,088
2,259
2,401
2,393
2,503
1,801
1,902
2,011
2,05C
2,392
2,37
2,332
2,456
3,453
3,859
3,695
3,820
4,140
4,264
4,086
4,130
3,427
3,677
3,807
3,91
4,115
4,07
4,203
4,225
611
1,268
706
1,422
663
1,389
622
1,520
698
1,527
754
1,696
680
1,669
725
1,654
621
1,258
665
1,385
653
1,416
663
1.54C
708
1,515
70
1,65
66
1,703
774
1,676
80
Electrical and electronic, and parts
and attachments
81
Nonelectrical, and parts and attach14, 827 16, 620
ments
.Construction, textile and other specialized industry machinery and
2,602 2,857
nonfarm tractors
Other industrial machinery, n.e.s . . 5,599 6,545
Agricultural machinery and farm
1,983 1,823
tractors
Business and office machines, com2,401 2,840
puters etc
Scientific, professional and service
2,243 2,555
industry equipment
82
83
84
85
86
87
88
89
90
91
92
93
94
95
Transporation equipment, except automotive
-
7,764
9,556
355
462
546
492
482
608
527
377
312
435
459
554
53
585
44
43
588
625
584
605
705
657
711
768
588
618
606
59C
705
64
73
750
523
561
568
591
602
630
649
673
525
550
578
59C
603
61
66
671
1,992
3,448
448
455
455
634
770
862
818
998
449
437
481
625
773
82
86
983
1,519
517
2,985
964
346
120
346
80
328
85
500
232
656
274
732
202
683
164
914
325
347
120
328
80
353
85
49
23
659
274
69
20
73
16
899
325
Automotive vehicles, parts, and engines .. 25, 558 27, 062
6,494
6,902
5,725
6,437
6,842
6,634
6,327
7,259
6,224
6,511
6,397
6,42
6,569
6,25
7,028
7,214
2,762
3,46:
2,315
4,196
2,285
4,112
2,163
4,26
2,088
4,48
1,75
4,493
2,03
4,99
2,712
4,502
Civilian aircraft, engines, parts
Civilian aircraft, complete, all types-
9,526 8,588
16, 032 18 474
2,890
3,604
2,485
4,417
1,886
3,840
2,265
4,172
2 181
4 66
1,903
4,731
1,649
4,679
2,855
4,404
14, 842 16, 819
Passenger cars new and used
Trucks, buses, and special vehicles
3,759 4,067
Bodies, engines, parts and accessories,
n es
- -- - 6,957 6,176
3,615
1,002
4,053
1,024
3,345
767
3,829
965
4,329
947
4,213
964
3,907
1,013
4,370
1,144
3,431
937
3,696
1,034
3,835
863
3,880
924
4,117
901
3,85
970
4,43
1,12
4,412
1,076
1,877
1,825
1,613
1,643
1,566
1,458
1,407
1,745
1,855
1,780
1,699
1,623
1,551
1,42
1,47
1,726
From Canada
From all other areas
96
Consumer goods (nonfood), except automotive
_
.--
97
98
99
Consumer durables, manufactured
Consumer nondurables, manufactured
Unmanufactured
consumer goods
(gems nursery stock)
100
Imports, n.e.s., (low value, goods returned, military aircraft, movies, exhibits)
See footnotes on page 61,
30, 566 34, 445
6,831
7,323
8,281
8,132
8,010
8,461
9,123
8,852
7,339
7,417
7,810
8,001
8,569
8,545
8,60
8,724
16, 233 18, 461
11,996 13, 066
3,495
2,771
3,903
2,866
4,294
3,424
4,542
2,934
4,089
3,019
4,669
3,139
4,709
3,759
4,994
3,149
3,897
2,895
3,919
2,954
4,145
3,080
4,272
3,067
4,529
3,164
4,676
3,224
4,538
3,384
4,719
3,294
2,337
2,918
565
554
563
656
902
653
654
709
546
545
584
662
876
646
685
711
3,651
4,647
855
915
925
956
989
1,123
1,196
1,339
911
895
912
933
1,054
1,099
1,184
1,310
SUEVEY OF CUREENT BUSINESS
56
March 1981
Table 4.—Selected U.S. Government Transactions
[Millions of dollars]
Line
Al
1979
U.S. Government grants (excluding military) and transactions increasing Government assets,
total
19 79
1980 P
19 30
I
II
III
IV
I
II
IV v
III'
11 159
13 925
2 781
2 782
2 643
2 953
3 691
3 065
3 431
3 738
3,524
500
3 024
4 506
750
3 756
860
51
809
899
206
692
878
243
636
887
887
1 247
442
806
762
46
717
949
13
936
1,549
250
1 299
Loans and other long-term assets (table 1, line 44, with sign reversed)
Capital subscriptions and contributions to international financial institutions, excluding
IMF
Credits repayable in U.S. dollars
__
Credits repayable i n foreign currencies _ _ _ _ _ _ _
__
_
_
Other long-term assets
7 651
9 697
1 875
1 900
1 806
2 071
2 615
2 366
2 467
2 250
551
6 982
46
72
796
8 483
36
382
163
1 711
146
1 749
5
133
1 669
4
110
1 852
37
72
216
2 301
1
97
171
2 100
2
93
287
2,058
25
97
121
2 025
8
95
Foreign currency holdings and short-term assets, net (table 1, line 46, with sign reversed)..
Foreign currency holdings (excluding administrative cash holdings), net
Receipts from —
Sales of agricultural commodities
__
_ __
_ __ _
Interest
- _
Repayments of principal
Reverse grants
Other sources
_
_ _ __
Less disbursements for —
Grants and credits in the recipient's currency
Other grants and credits
_ __ _
_ _ _ _ _
_
_ _ __
Other U S Government expenditures _
_ ! _ _ _ _
Assets held under Commodity Credit Corporation
Charter
Act,
net
Assets financing military sales contracts, net 2
Other short-term assets (including changes in administrative cash holdings) net
-16
—110
-278
—143
47
—27
-16
—23
-42
—32
-5
—27
-171
—12
-63
—68
16
—33
-60
—30
1
68
143
4
(*)
58
114
(*)
17
50
(*)
15
30
1
21
24
(*)
15
39
(*)
18
37
('*)
11
27
(*)
16
24
14
2
1
1
1
g
4
22
14
3
5
5
9
4
3
4
3
304
75
315
—129
94
60
63
38
73
—17
74
—6
64
—96
111
-18
73
31
67
-46
20
—6
14
—31
7
29
—63
23
17
17
551
1 391
5 740
1,851
1,544
215
304
171
796
1 486
7 361
3,294
875
186
315
242
163
253
1 558
309
450
69
94
74
146
358
1,565
399
322
45
63
11
133
448
1,183
419
497
46
73
—9
110
333
1,435
725
275
55
74
95
216
323
2,258
691
274
56
64
-63
171
434
1,232
918
275
46
111
100
287
466
1,629
762
174
44
73
142
121
263
2,242
923
152
40
67
64
8,430 10, 131
4 607 6 164
1,214
1,780
1 388 1 974
888 1 224
1,954
1 046
287
197
146
2,263
1 186
304
470
264
2,251
1,201
286
425
183
1,963
1,174
338
295
295
2,426
1,563
266
585
143
2,450
1,672
292
344
299
2,471
1, 355
540
490
478
2,785
1,575
682
555
305
51
113
516
206
58
377
243
35
451
98
172
442
57
213
46
104
230
13
47
165
250
88
3
2
-1
3
-1
42
74
192
64
66
73
497
67
By category
2
3
4
5
6
7
g
9
10
11
12
13
14
15
16
17
18
19
20
21
22
Grants, net (table 1, line 34, with sign reversed)
Financing military purchases *
Other grants
__
__
_
_
_
(*)
(*)
13
26
2
By program
23
24
25
26
27
28
29
30
Capital subscriptions and contributions to international financial institutions, excluding
IMF
Under farm product disposal programs
Under Foreign Assistance Act and related programs
Under Export-Import Bank Act
-Other assistance programs
_
Other foreign currency assets acquired (lines A13 A14 and A16)
Less foreign currencies used by U.S. Government other than for grants or credits (line A19).
Other (including changes in administrative cash holdings), net
_- _ _ __
By disposition 3
31
32
33
34
35
36
37
38
39
40
41
42
43
Bl
2
3
4
5
g
7
Cl
2
3
4
5
g
7
g
9
10
11
12
13
14
15
Estimated transactions involving no direct dollar outflow from the United States
_
Expenditures on U S merchandise
Expenditures on U S services ^
Financing of military sales contracts by U S Government & (line C6)
By long-term credits
- By short-term credits ^
By grants '
14
U S Government grants and credits to repay prior U.S. Government credits
_ _ __
U S Government long- and short-term credits to repay prior U S. private credits
Increase in liabilities associated with U.S. Government grants and
transactions
increasing
Government assets (including changes in retained accounts) 6 (line Cll)
Less receipts on short-term
U.S. Government assets (a)financingmilitary sales contracts !
g,nd (\y\ financin0" repayments of private credits
Less foreign currencies used by U.S. Government other than for grants or credits (line A 19).
500
305
1 516
1
750
296
610
297
304
379
315
113
94
68
63
74
73
Estimated dollar payments to foreign countries and international financial institutions _ . _ 2 729
3,794
828
519
392
991
1,265
3 852
4,308
758
950
963
1,181
915
1,168
1,076
1,150
3 699
268
1 095
3 884
270
1,147
1, 2V4
1, 194
754
59
234
319
142
925
43
271
339
272
962
46
225
291
400
1,058
120
365
322
250
820
41
240
308
232
1,067
65
356
322
325
967
46
244
326
352
1,029
119
307
318
285
Repayments on U S Government long-term assets total (table 1, line 45)
Receipts of principal on U S Government credits
Under farm product disposal programs
Under Foreign Assistance Act and related programs
Under Export-Import Bank Act
Other assistance programs
- - -- -
-
Receipts on other long-term assets
- -
153
-
-714
U S Government liabilities other than securities, total, net increase (+) (table 1, line 61)
Associated with military sales contracts 2
U.S. Government cash receipts from foreign governments (including
principal repayments
on credits financing military sales contracts) net of refunds 1
T ess U S Government receipts from principal repayments
I ess U.S. Treasury securities issued in connection with prepayments of military purchases
in the United States
Plus financing of military sales contracts by U.S. Government 6 (line A34) _
_ __
By long-term credits
- By short-term credits *
By grants *
less transfers1of
good's and services '(including transfers financed by grants to Israel, and
by credits) 2 (table 1, line 3)
_
Associated with U.S. Government grants and transactions increasing Government assets
(including changes in retained accounts) ^ (line A40)
Associated with other liabilities
Sales of nuclear materials by Department of Energy
Other sales and miscellaneous operations
See footnotes on page 61.
y
_
-
1,272
1,064
_
1
—1
(*)
4
424
1,375
-128
25
122
(*)
(*)
216
(*)
82
111
615
960
954
124
95
100
108
120
-924
181
737
242
215
—600
1, 527
-162
166
247
146
790
469
123
7, 562
565
8,341
565
1,763
'122
1,757
134
1,652
139
2,391
170
1,819
121
1,922
160
2,290
134
2,311
151
1,790
1,388
888
752
1,974
1,224
19V
146
470
264
425
183
1,790
295
295
640
585
143
-442
344
299
84
490
478
470
555
305
442
46
13
250
1,575
1,497
1,758
2,093
2,122
2
-1
3
-1
-76
17
-17
—75
37
-42
78
-230
-68
-87
-75
92
3
90
500
750
51
7,194
7,470
2,000
1
1
-116
-8
—33
75
-154
-89
10
75
(*)
34
-26
61
206
1,927
-1
—44
33
-77
-850
243
1,692
(*)
-31
-31
(*)
(*)
-53
18
-71
March 1981
SUKVEY OF CUKKENT BUSINESS
57
Table 5.—Direct Investment: Income and Capital
[Millions of dollars]
(Credits (+); debits (-))
Line
1979
19''9
1980 *
I
198 0
II
III
IV
I
II
III'
IV *
U.S. direct investment abroad:
1
2
3
4
5
6
7
Income (table 1, line 11)
37, 815
37 068
7 963
9 150
9 889
10 814
11 562
7 205
8 665
9 636
Interest, dividends, and earnings of unincorporated affiliates (table 1, line 12) . 19, 401
Interest
.
966
Dividends
. . ..
9 030
Earnings of unincorporated affiliates
.
9 374
Reinvested earnings of incorporated affiliates (table 1, line 13)
18, 414
20, 253
n a.
na
na
16 815
3,890
262
1 844
1 784
4 073
4,384
235
1 908
2 241
4 766
4,943
260
2 270
2 413
4 946
6,184
240
3 008
2 936
4 630
5,680
293
2 045
3 343
5 882
3,449
209
2 565
676
3 756
4,958
198
2 355
2 405
3 708
6,166
na
24 319
20 592
5 973
7 536
6 754
4 057
5 685
3 218
3 666
Q AOO
—5 904
—2 542
1 357
—4 004
2 647
1 185
—419
—3 363
— 18 414
—3 777
n a.
na
na
na
na
na
na
na
—16 815
1 900
— 1 194
374
735
361
820
891
71
—706
—4 073
2 769
—744
325
833
508
418
308
—110
—2 026
—4 766
1 808
—611
440
967
527
171
483
—654
— 1 197
—4 946
573
7
218
1 468
1 250
*225
49
274
566
—4 630
197
119
132
572
440
251
62
189
78
—5, 882
538
— 1 129
492
1 063
571
636
—468
—169
1,666
-3, 756
41
968
1 261
1 684
'423
2 229
2 210
' 19
—927
—3 708
na
na
na
—3 470
13 222
13 646
10 946
na
na
na
2 532
3 053
2 378
2 667
3 503
2 980
3 817
3 320
2 752
4 207
3 770
2*837
5 427
3 319
2 817
754
2 739
3 713
3 309
o 443
2 914
n a.
na
na
Capital (outflow (— )) (table 1, line 48)
g
9
10
11
12
13
14
15
16
17
Equity and intercompany accounts (table 1, line 49)
Incorporated affiliates
Equity 1
Increase 2
Decrease
_
Intercompany accounts
Short-term..
Long-term.
_
Unincorporated affiliates
Reinvested earnings of incorporated affiliates (table 1, line 50) .
—765
na
3 470
4 553
na
na
na
By industry of affiliate: 3
18
19
20
Income (line 1) :
Petroleum
Manufacturing
Other
21
22
23
Interest, dividends, and earnings of unincorporated affiliates (line 2):
Petroleum
.
Manufacturing
Other
8 243
5 507
na
na
na
1 368
1 191
1 330
1 624
1 091
1 669
2 346
1 422
1 174
2 904
1 803
1,477
3 121
1,274
1,285
136
1,151
2,162
2 174
1 191
1,593
na
na
n.a.
24
25
26
Reinvested earnings of incorporated affiliates (line 6, or line 17 with sign reversed) :
Petroleum
_ _. .
Manufacturing
Other
4 979
8 139
5,296
na
na
n.a.
1 164
1 861
1 047
1 042
2 412
1,311
1 471
1 898
1,577
1 303
1 967
1,360
2,306
2,044
1,532
618
1,587
1,551
1 135
1 252
1,321
n a.
n a.
n.a.
27
28
29
Equity and intercompany accounts (outflow (— )) (line 8):
Petroleum
Manufacturing
Other
—2 730
—1 236
— 1 938
2 533
na
na
337
1 016
—548
1 397
— 161
—1 212
—651
—986
—171
—345
927
—8
1,245
-330
-719
2,215
—675
-1,002
545
—173
—331
—1 472
n a.
n.a.
—6 033
—8 853
1 155 —1 540
—1 703
—1 635
—1 761
—2, 157
—3 151
—1 783
Interest, dividends, and earnings of unincorporated affiliates (table 1, line 28). -2, 303
—499
Interest
—993
Dividends
—812
Earnings of unincorporated affiliates
—3, 730
Reinvested earnings of incorporated affiliates (table 1, line 29)
-3,005
—726
— 1 264
— 1 014
—5 848
-517
83
—240
— 194
—638
-535
—98
—207
—231
— 1 004
-618
— 128
—277
—213
—1,085
-633
— 191
—269
—174
-1,002
-595
— 149
-224
-222
-1, 166
-1,083
-223
—444
-416
-1,074
-752
—189
-268
-295
-2, 399
-574
—165
-328
-81
-1,209
9,713
8 204
1 120
2 812
3 217
2 564
1,666
3,082
2,437
1,02C
5,984
2,357
2 014
2 630
2 848
-218
—617
—1 136
519
343
5 848
482
495
320
372
-51
175
—387
562
-13
638
1 808
1 672
986
1 152
— 166
687
369
318
135
1 004
2,133
1 962
986
997
-10
976
754
222
170
1,085
1,561
1 431
948
1,031
-82
482
235
248
131
1,002
500
496
432
454
-21
64
72
-8
4
1,166
2,008
1,789
652
674
-22
1,136
733
403
219
1,074
38
-71
657
767
-111
-728
-568
-160
109
2,399
-18S
-20C
88S
952
-64
-1,08£
-1,373
284
11
1,209
-3, 327
—2 240
—3, 286
-397
—338
-419
-479
-402
-659
-625
-370
-709
-503
-402
-731
-792
-336
-634
-893
-287
-977
-766
-1,480
-905
-876
-137
-77C
-388
-595
-725
-1,686
-86
-137
-293
-105
-122
-308
-86
-153
-380
-111
-190
-331
-116
-149
-330
-172
-283
-629
-155
-146
-451
-155
-147
-276
-1, 615
-910
-2, 732
-1,514
-1,60]
-311
-201
-126
-374
-280
-351
-539
-217
-329
-391
-212
-399
-676
-186
-304
-721
-4
-349
-611
-1, 334
-454
-724
10
-494
526
-248
1,594
1,011
91
335
1,382
97
555
1,481
2
433
65
-27
604
1,431
-215
-23
276
-8
580
-761
5,650
Foreign direct investment in the United States:
Income (table 1, line 27)
30
31
32
33
34
35
Capital (inflow (+)) (table 1, line 65)
36
37
38
39
40
41
42
43
44
45
46
Equity and intercompany accounts (table 1, line 66)
Incorporated affiliates
Equity
Increase l 2
Decrease
Intercompany accounts
Short-term
Long-term
Unincorporated affiliates .
Reinvested earnings of incorporated affiliates (table 1, line 67)
-
5 560
3,240
3,550
- -
—310
2 320
-.
971
1,349
424
3 730
By industry of affiliate: '
47
48
49
Income (line 30) :
Petroleum
Manufacturing
Other
50
51
52
Interest, dividends, and earnings of unincorporated affiliates (line 31) :
Petroleum
-_
Manufacturing
Other
53
54
55
Reinvested earnings of incorporated affiliates (line 35, or line 46 with sign reversed):
Petroleum
Manufacturing
__
_
__._
Other
.-
56
57
58
Equity and intercompany accounts (inflow (-f )) (line 37):
Petroleum
Manufacturing
_
_ .
Other
See footnotes on page 61.
.
.
-2,003
—1,512
.
-2, 517
_.
—603
--- -1,312
-1,205
1,914
3,044
107
381
-6
231
644
687
SURVEY OF CUERENT BUSINESS
58
March 1981
Table 6.—Securities Transactions
[Millions of dollars]
1979
(Credits (+); debits(-))
Line
19'r9
1980*
I
Foreign securities, net U.S. purchases (— ), balance of payments basis (table 1, line
-4, 643
51 or lines 6+17 below)
Al
II
19? 0
III
I
IV
II
iv*
III'
-3, 188
-1,001
—513
—2 143
—986
—765
—1 246
—805
—371
-2, 010
—54
61
—459
— 412
—660
—222
—885
—293
—366
—835
—329
—78
—282
—155
288
30
553
87
—70
— 174
— 177
—421
-226
Stocks:
Treasury basis, net l
2
-
-864
-
Adjustments:
Less recorded in table 1, line 48 as U.S. direct investment abroad.
Plus exchange of stock associated with direct investment in the United States. _
Plus other adjustments
Balance of payments basis, net .
3
4
5
Q
7
3
Newly issued in the United States
Of which Canada
g
10
11
12
13
Other foreign stocks
Western Europe
Canada
Japan
Other
- -
_
64
_
_ _ _ _ __
80
64
80
-100
_
-928
-2, 190
-54
-131
—113
-515
—276
— 13
—797
—1 675
—421
—432
-782
61
31
—22
63
-11
—405
-40
—41
39
—93
36
-23
-797
—947
—674
71
___
-875
25
-18
—86
—6A
61
—523
—412
—660
—118
—100
—13
—53
412
54
—344
—416
—15
7
—59
9
—1 641
—706
22
182
660
—127
—465
— 19
—138
—116
211
—65
241
—4
25
-12
—105
—880
80
158
—49
Bonds:
14
Treasury basis, net *
15
16
Adjustments:
Plus additional Canadian redemptions 2 _.
Plus other adjustments _
17
Balance of payments basis net
-8, 868
--
154
-200
Newly issued in the United States
By type' Privately placed
Publicly offered
18
19
20
- --
By area: Western Europe ._
Canada
Japan
-- -Latin America
_ _-Other countries
International financial institutions 3
21
22
23
24
25
26
27
28
29
30
Redemptions of U.S. -held foreign bonds 2 __
Canada
Other countries
- International financial institutions 3
31
32
33
34
35
Other transactions in outstanding bonds 2
Western Europe
- Canada
Japan
Other
__
__
-
- _.
—947
—574
—1 619
—574
—105
880
30
—42
—4 458
-796
—3 662
—3 330
—675
—2 655
—1 490
—321
— 1 169
—824
— 159
—665
—1 410
—133
— 1 277
734
730
462
—183
—1 006
—302
551
704
— 130
—113
—1 132
—130
—1 002
-2, 029
—1,887
-967
— 1 808
—596
—696
-525
—220
—533
—733
—375
—238
—79
—5
—60
—264
—643
— 10
— 111
-79
-43
—321
1,678
872
426
380
__
-60
-7
600
349
—325
325
—374
—624
—7
—92
—4
216
—60
80
—83
—99
—134
-28
—74
—96
—76
—3
1,149
367
164
63
140
274
153
62
59
400
205
85
110
637
350
216
71
643
143
131
369
257
126
35
96
622
130
117
375
611
107
195
309
200
-61
17
—24
—609
-502
—202
—477
-297
— 162
—156
258
222
58
—407
—424
— 119
—130
-141
—118
—389
-99
2,133
506
478
176
45
138
100
3
133
— 156
131
479
282
42
42
113
677
313
2,427
1 194
990
2,832
858
204
879
2,154
408
764
1,950
-262
-78
-7
—61
—189
—156
-276
122
—717
-149
275
145
111
37
-18
190
118
128
-62
6
1 998
1,519
301
16
162
255
351
—44
—76
24
37
74
71
—66
—42
1,801
1,157
389
423
150
58
118
97
1,282
5,296
—52
476
488
421
1,841
1 22S
1 460
1,272
635
-1, 945
482
898
103
—298
—913
—284
—507
—241
1,917
1,886
3,351
2,597
380
443
873
732
541
603
123
108
428
80
939
998
953
850
1 031
-80
111
150
-89
843
437
-234
7
134
164
88
59
—44
155
193
84
—205
12
91
152
—51
413
196
—934
-936
—519
-291
-182
477
-52
301
—37
4
191
2,942
7,443
803
1,149
1,621
5,266
685
-7
-275
-900
812
U.S. securities, excluding Treasury issues and transactions by foreign official agencies, net foreign purchases (+), balance of payments basis (table 1, line 69, or
lines 5+12 below)
Bl
—997
-99
__
-200
—3 714
-233
—87
182
— 122
36
Stocks:
2
Treasury basis, net *
_ _ _
3
4
Adjustments:
Plus exchange of stock associated with U.S. direct investment abroad. __
Plus other adjustments *
5
6
7
8
9
Balance of payments basis net
Western Europe
Canada
Japan
Other
-590
1,024
- - _ _ _ _ _
___ ___.
220
549
124
131
4 091
3.101
755
-154
136
— 193
252
31
46
427
-28
245
Bonds:
10
Treasury basis, net *
11
Adjustments *s
12
13
14
B alance of payments basis net
New issues sold abroad by U S. corporations 5
Investments by international financial institutions 3 in nonguaranteed
bonds of U S federally sponsored agencies
Other transactions in U.S bonds
Of which United Kingdom
.__
_
-
15
16
See footnotes on page 61.
171
14
— 150
-28
146
5
669
SURVEY OF CURRENT BUSINESS
March 1981
59
Table 7.—Claims and Liabilities on Unaffiliated Foreigners Reported by U.S. Nonbanking Concerns
[Millions of dollars]
Line
Al
2
3
(Credits (+); increase in U.S. liabilities or decrease in U.S. assets. Debits (— );
decrease in U.S. liabilities or increase in U.S. assets.)
Claims total
Long-term (table 1, line 52)
Short-term (table 1, line 53)
.
4
5
6
7
8
9
10
11
12
13
Financial claims _ _ _
_ _ .
Denominated i n U.S. dollars.Denominated in foreign
currencies
By area: Industrial countries l
Of which United Kingdom
Canada..
. . .
Caribbean banking centers 2
Other
By type: Deposits
Other claims
14
15
16
17
18
19
20
21
Commercial claims.
Denominated in U.S. dollars
Denominated in foreign currencies- .
By area' Industrial countries 1 3
Oil-exporting countries
Other
By type* Trade receivables
Other claims
Bl
2
3
_ _
_.
_ _ _ _ _ _ _
..__
. _
Liabilities, total 4
Long-term (table 1, line 70)
Short-term (table 1, line 71)
_
4
5
6
7
8
9
10
Financial liabilities
Denominated in U.S. dollars
Denominated in foreign currencies .
By area: Industrial countries *
Of which United Kingdom
Caribbean banking centers 2
Other
_
11
12
13
14
15
16
17
18
Commercial liabilities
Denominated in U.S. dollars
Denominated in foreign currencies
By area: Industrial countries J 3
Oil-exporting countries
Other
By type: Trade payables
Other liabilities
. . .
_
_
. . . .
1979
1979
I
1980
II
III
IV
I
II
III*
IV
Amounts
outstanding
September 30,
1980
-2,029
141
-2, 170
-2,442
15
-2,457
935
-488
1,423
-932
363
-1,295
410
251
159
-1,474
313
-1.787
147
-608
755
479
-299
778
n.a.
n.a.
n.a.
31,565
6,516
25,049
-711
-1, 098
387
-684
-1,093
151
6
-33
-993
282
-3, 052
-3,843
191
-700
-405
-675
-2,404
52
-3,080
28
1,206
1,246
-40
-195
-224
130
1,103
298
1,088
118
-174
-377
203
-611
-888
330
904
-467
-79
-95
1,309
1,276
33
822
424
366
403
84
1,078
231
-1,472
-., 794
322
265
230
42
-1, 771
34
-1,447
-25
770
784
-57
105
684
3
937
-167
335
468
-133
226
309
-20
315
-206
559
-224
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
18, 164
16,413
2.751
10,662
4,546
4,798
5,040
2,462
12,099
6,065
-1,318
-1,284
-84
-816
-100
-402
-1, 275
-43
610
608
2
212
60
338
716
-106
-271
-237
-34
-102
-75
-94
-315
44
-758
-793
35
-494
-52
-212
-705
-53
-899
-862
-37
-432
-33
-434
-971
72
-2
36
-38
42
16
-60
-4
2
-623
-604
-19
-60
-241
-322
-567
-56
144
102
8
2
136
8
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
13, 401
13, 018
383
7,026
1,728
4,647
12, 521
880
1,692
900
792
-543
21
-564
579
-227
806
606
157
449
1,050
949
101
683
85
598
1,331
756
575
405
403
2
n.a.
n.a.
n.a.
27,500
6,816
20.684
616
1,033
-417
438
63
273
-95
-382
-lit
-210
-383
-187
-6
7
-434
-290
-144
-209
-183
22
-247
451
335
116
182
16
-30
299
981
1,160
-179
848
417
287
-154
801
848
-47
492
520
268
41
705
341
364
844
431
-21
-118
103
241
-138
16
76
-37
124
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
10, 483
8,065
2,418
8,654
4,626
1,097
732
1,076
1,162
-86
922
-344
497
363
713
-161
9
-170
-72
-308
219
-500
339
1,013
1,016
-3
420
175
418
760
253
155
108
47
241
-118
32
-160
315
69
29
40
333
-93
-171
263
-194
-118
-66
-62
23
-139
-2
-264
146
626
669
67
149
276
201
160
466
302
327
-25
84
310
-92
290
12
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
17, 017
16, 232
785
5,440
8,907
2,670
11, 106
5,911
-a
See footnotes on page 61.
Table 8.—Claims on Foreigners Reported by U.S. Banks
[Millions of dollars]
1379
Line
(Credits (+); decrease in U.S. assets. Debits (— ); increase in U.S. assets.)
1 Total
2
Long-term (table 1, line 54)
3
Short-term (table 1, line 55)
By area:
4
Industrial countries J
5
Of which United Kingdom2
6
Caribbean banking centers
7
Oil-exporting countries 3
8
Other
9
Of which Latin American countriesAsian countries
_
10
11
African countries
_.
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
_
—
_ _
By type:
Payable in dollars
Banks' claims for own account
On own foreign offices
Of U.S. -owned banks
_ __ _ _ _ _
Of foreign-owned banks in the United States.. _ _ _ _ _
On foreign public borrowers 4
_
_ _
On other foreign banks
Of which deposits
__ _ _
On other foreigners
Banks' claims for domestic customers' accounts .
Deposits .
_
__
Negotiable and readily transferable instruments--- _ _
Collections outstanding and other claims
Payable in foreign currencies
Banks' claims for own account
Of which deposits
Banks' claims for domestic customers' accounts
Of which deposits
__
Memoranda;
Claims on foreign public borrowers (incl. in line 17 above):
Long-term
Short-term_ _ _ _
_ _ _
Claims on all other foreigners (incl. in lines 18+20 above):
Long-term
Short-term__
_ _ _ _
_
U.S. banks' dollar acceptances payable by foreigners
See footnotes on page 61.
1979
1980 P
I
II
1980
III
IV
II
I
—25, 868 —46 608
na
na
na
na
6 181
na
na
—7 839 —16 997
na
na
na
na
—7 213
na
na
—13 876 —13 872
—9 963 —2 895
2 376 —16 705
224
1 719
— 14 592 —14 312
—11 429 —8 953
—2 487 —4 481
—89
—303
2? 273
989
3 789
1 040
—921
—279
—758
70
3 755 —10 122
—3 430 —5 050
239
1 226
54
746
—2 912 —5 890
1 904 —4 805
—793
—820
92
78
—2 272
—2 472
7 ggs —16 858
—7 033 —12 048
799 —2 237
489 —1 244
—1,288
—993
—544 —2 568
—4 188 —4 512
—906
—108
—1 502 —2 731
—832 —4 810
36
—293
-611 —4, 338
—257
— 179
26
— 139
123
—97
—168
51
—42
—97
3
-46
7
—6
—7
—2
—5
—1
5
52
124
—4 869
—4 441
— 116
—145
358
223
502
149
353
110
109
—26 704
—17 975
—5 359
3 630
—8, 989
—4 885
—435
—761
— 7 296
—8 729
—475
—7,589
—665
836
1 059
616
—223
—141
—44 537
—38 617
—17 184
—11 402
-5, 782
—5 169
—9 484
—2 050
—6 780
—5 920
71
—2, 369
—3 622
—2 071
—1,704
—1 474
—367
-467
5 377
7 329
5 179
6 534
—1,355
—663
3 156
—687
—343
— 1 952
-238
-1,426
—288
804
912
530
-108
-84
—2 747
-2, 408
-1,945
-2, 417
-602
-44
-471
23
—1,227
-1,453
—447
-934
—3 101 -1,117
—4,309 -14,925
-6,251 -4, 781
-300
3,075
-179
-1,000
-4, 649
-1,766
-289
-6, 846
-2,887
-1,512
4,111
-1,419
940
—2 720
—1 135
20
-1,214
59
145
121
203
24
-14
III'
IV P
—274 -21,051 -12,268 -13,015
na
n.a.
n a.
n.a.
—2 470 —10 204
1 294 —5 905
1 758 —6 737
1 626
3,082
—8 716
—1 043
na
na
n.a.
n.a.
Amount
outstanding
De cember 31,
1980
203, 730
n.a.
n.a.
-2, 824
-1,366
—3, 010
—1 328
—5, 853
—4,519
-938
81,899
26, 914
46, 156
10 482
65, 193
43, 977
17, 433
1,474
563 —21 131 —12 314 —11 655
2 987 —18 559 —12,005 -11,040
2 057 —10 600 —5 552 —3 089
-210
2,564 —7, 560 —6, 196
-3,040
644 -2, 879
-507
6
-351 -3, 125 -1,699
1 324 —4, 372 -2, 240 -4, 196
-1,042
-705
774 -1,077
-400
—3, 236 -1,088 -2, 056
-615
-2, 424 -2, 572
-309
197
298
-253
-171
-313
2,210
-1,585 -2, 681
-499
-586
-189 -2, 348
46 -1,360
80
-837
-993
-182
-156
-373
164
-78 -1, 380
-180
262
202
-367
-464
338
91
-533
-363
198, 663
172, 557
64, 968
36, 372
28, 596
20,668
50,204
8,258
36, 717
26, 106
362
76
461
48
—103
290
—4 400
—1 989
-2, 478
20
-316
-82
189
-123
-34
61
1,104
-2, 051
-7, 683
-2, 193
—4, 135
—2 906
-1,113
—139
-81
885
15,574
9,647
5,067
4,104
2,506
963
680
-1,077
-1,549
-470
-934
10,089
9,573
-338
-3, 179
-1,249
-806
-5, 167
14, 010
72,624
22,821
712
SUEVEY OF CUEEENT BUSINESS
60
March 1981
Table 9.—Foreign Official Assets in the United States and Other Foreign Assets in the United States Reported by U.S. Banks
[Millions of dollars]
Line
Al
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
Bl
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
(Credits (+); increase in foreign assets. Debits (— ); decrease in foreign
assets.)
Foreign official assets in the United States, net (table 1, line 57)
Other foreign assets in the United States: U.S. Treasury securities and
U.S. liabilities reported by U.S. banks, not included elsewhere (table 1,
lines 68, 72, and 73)
- -
-- - - - -- -- - - -
--
By type:
Foreign commercial banks
U S Treasury bills and certificates
U S liabilities reported by U S banks
Banks' liabilities for own account *
Payable in dollars
To own foreign offices
_ _ _ _
O f U S -owned banks
O f foreign -owned banks in the United States - _
To other foreign banks
Demand deposits
Time deposits ]
-Other
_ _
Payable in foreign currencies
Banks' custody liabilities, payable in dollars 1 2
21
22
23
24
25
26
27
28
29
30
Internationalf i n a n c i a linstitutions 6
_ _ _ _ _ _ _ _ _
U S Treasury securities
Bills and certificates
Bonds and notes marketable
U S liabilities reported by U.S. banks
Banks' liabilities for own account, payable in dollars L _ _
Demand deposits
Time deposits 1
_- - - Other
_
Banks' custody liabilities payable in dollars * ^
-
31
32
33
34
35
36
37
38
39
40
41
Other private foreign residents and unallocated
U S Treasury securities
Bills and certificates
Bonds and notes marketable
- Bonds and notes nonmarketable ^
U S liabilities reported by U.S. banks
Banks' liabilities for own account payable in dollars *
Demand deposits
- Time deposits *
Other
Banks' custody liabilities payable in dollars 1 2
42
Memorandum :
Negotiable certificates of deposit held for foreigners 1 __ -
See footnotes on page 61.
_ _
- --
_ _
_ ___ _ _
-- ____
__
_ _
- -
1979
1980 P
I
- _ _ _ . -14,271
By area: (See text table B)
By type:
U S Treasury securities (table 1 line 59)
Bills and certificates
- - Denominated i n U.S. dollars
- _ _ _ _
_
Denominated in foreign currencies
Bonds and notes marketable
- -Bonds and notes nonmarketable
Denominated in U.S. dollars
_ _
Denominated i n foreien currencies
_ _ _ _ _
Other U S Government Securities (table 1 line 60)
Other U S Government liabilities (table 1, line 61).._
_
U.S. liabilities reported by U.S. banks, not included elsewhere (table 1,
line 62)
._
Banks' liabilities for own account, payable in dollars 1
Demand deposits
- Time deposits *
-- Other
_
Banks' custody liabilities payable in dollars 1 2
Other foreign official assets (table 1 line 63)
By area:
Industrial countries 3
Caribbean banking centers
^
Oil-exporting countries 6
Other countries
- International financial institutions 6
1979
II
\mounts
outstanding
December 31,
1980
1980
III
IV
I
iii'
II
IV P
16, 179
-8,744 -10,095
5,789
-1,221
-7,215
7,775
7,991
7,628
176,435
9,640
8,577
8,577
5,024
4,537
4,537
-5,769
-3, 175
-3,1/5
-5, 357
-4, 869
-4, 869
4,314
3,110
3,110
3,769
3, 454
3, 454
6,914
6,882
6,882
112, 329
56, 244
56, 244
1,643
-1, 156
-1, 156
-434
2 160
-2, 160
116
-604
-604
2,034
-830
-830
1,015
-700
-700
632
-600
-600
41, 431
14, 654
14,654
335
216
41
-924
801
181
250
737
549
242
587
215
7,758
12, 826
-22, 356
-20, 005
-19,749
-256
1,775
-4, 126
-3,246
-880
465
-714
3,797
-2, 734
-2, 734
2,187
1,375
-8, 752 -12,859
— 7 897 -13,470
-7,641 -13,470
-256
175
391
-1,030
220
226
-156
-874
-6
94
-5
122
-128
7,219
6,133
1, 335
521
4,277
1,086
1,116
-84
-391
-899
551
-43
307
3,061
-72
-1,201
-525
-25
-651
1,129
213
2,354
2,599
332
-13
2,280
-245
195
56
-29
-53
-273
297
85
158
4,881
4,764
1,581
832
2,351
117
550
-3, 185
-3, 637
-777
-644
-2,216
452
345
1,652
1,752
1,115
273
364
-100
822
2,006
2,236
-661
806
2,091
-230
1,425
-557
-742
-576
116
-282
185
469
30, 361
17, 806
3,772
3,592
10, 442
12, 555
13, 161
37,498
13,380
9,565
11,962
14,651
1,320
9,633
-5, 433
-60
9,240
137, 924
18, 145
13, 912
1,764
3,631
46
5,951
2,978
890
4,396
-835
3,566
7,436
-134
-529
-774
4,348
5,192
637
1,728
57
7,455
4,875
597
630
3,094
2,776
-3, 591
664
1,802
-331
7,210
1,730
55
190
448
-2, 623
382
2,082
-4, 730
1,337 -1,860
900
-20
-317
-644
982
3,896
1,358
3,326
-322
68, 024
29, 763
7, 732
25, 440
6,965
30, 512
121
30, 391
30, 303
30, 706
26, 665
10, 756
15, 909
4,041
2,013
210
1,818
-403
88
9,861
201
9,660
8,914
7,180
4,889
-2,332
7,221
2, 291
895
104
1,292
1,734
746
7,523
125
7,398
7,399
7,859
10, 180
3,825
6,355
-2,321
-1,892
-216
-213
-460
-1
10, 716
-19
10, 735
10, 527
10, 364
7,553
5,436
2,117
2,811
1,798
119
894
163
208
13, 082
-1
13, 083
13, 034
12, 660
10, 540
6,630
3,910
2,120
1,312
285
523
374
49
-809
16
-825
-657
-177
-1,608
-5, 135
3,527
1,431
795
22
614
-480
-168
7, 136
253
6,883
6,355
5,998
5,061
4,871
190
937
114
-150
973
357
528
-5, 234
-82
5 152
-4, 839
-5, 175
-7, 625
-8,469
844
2,450
1,604
-78
924
336
-313
459
-232
691
616
656
3,145
253
2,892
-2, 489
-1,932
-67
-490
-40
75
7,500
262
7,238
6,782
5,701
4,308
1,013
3,295
1,393
1,109
399
-115
1,081
456
100, 111
623
99, 488
94, 152
90, 439
68, 627
22, 231
46, 396
21,812
14,104
1,811
5,897
3,713
5,336
46
211
-98
309
-165
-206
-70
67
-203
41
-835
-689
151
-840
-146
-251
-113
-71
-67
105
-774
-514
10
-524
-260
-145
-53
4
-96
-115
57
-449
107
—556
506
739
-13
6
746
-233
1,094
1,750
595
1,155
-656
-1,010
103
-12
-895
354
-331
576
-810
234
245
210
99
69
42
35
448
1,087
55
1,032
-639
-317
-100
-71
-146
-322
-317
-1,111
948
-2, 059
794
462
-61
6
517
332
-644
-492
-791
299
-152
-359
42
9
-410
207
-322
-173
-61
-112
-149
-37
6
-15
-28
-112
6,965
4,842
254
4,588
2,123
477
146
85
246
1,646
6,940
4,498
97
727
3,674
2,442
1,933
879
401
653
509
4,354
3,182
93
1,921
1,168
1,172
1,140
272
923
-55
32
2,816
2,953
14
384
2,555
-137
108
-35
182
-39
-245
1,189
348
217
131
475
-283
-247
-36
125
470
107
363
2,062
806
-219
1,025
758
179
-290
186
283
579
2,049
1,938
396
374
1,168
111
-63
132
72
-267
174
118
-32
-191
159
841
747
522
172
53
94
2,460
1,480
113
248
1,119
980
899
682
-139
356
81
150
518
620
-285
183
-368
-345
-478
-845
296
71
133
1,256
1,163
365
840
-42
93
30, 848
11,408
474
4,960
8
5, 974
19, 440
16, 065
5,356
9,676
1,033
3,375
263
537
-1,069
41
10, 745
-33
-228
248
-621
631
-291
March 1981
SURVEY OF CURRENT BUSINESS
61
Footnotes to U.S. International Transactions Tables 1-10
General notes for all tables:
r Revised.
v Preliminary.
* Less than $500,000 (±).
n.a. Not available.
Table 1:
1. Credits, -f: exports of goods and services; unilateral transfers to United States; capital
inflows (increase in foreign assets (U.S. liabilities) or decrease in U.S. assets); decrease in
U.S. official reserve assets.
Debits, —: imports of goods and services; unilateral transfers to foreigners; capital outflows
(decrease in foreign assets (U.S. liabilities) or increase in U.S. assets); increase in U.S. official
reserve assets.
2. Excludes transfers of goods and services under U.S. military grant programs (see line 16).
3. Excludes exports of goods under U.S. Military agency sales contracts identified in Census
export documents, excludes imports of goods under direct defense expenditures identified in
Census import documents, and reflects various other adjustments (for valuation, coverage,
and timing) of Census statistics to balance of payments basis; see table 3.
4. For all areas, amounts outstanding December 31, 1980, were as follows in millions of
dollars: line 38, 26,756; line 39, 11,160; line 40, 2,610; line 41, 2,852; line 42,10,134.
5. Includes sales of foreign obligations to foreigners.
6. Consists of bills, certificates, marketable bonds and notes, and nonmarketable convertible and nonconvertible bonds and notes.
7. Consists of U.S. Treasury and Export-Import Bank obligations, not included elsewhere,
and of debts securities of U.S. Government corporations and agencies.
8. Includes, primarily, U.S. Government liabilities associated with military sales contracts
and other transactions arranged with or through foreign official agencies; see table 4.
9. Consists of investment in U.S. corporate stocks and in debt securities of private corporations and State and local governments.
10. Beginning with estimates for the second quarter of 1978, the distinction between shortand long-term liabilities is discontinued.
11. Conceptually, the sum of lines 79 and 74 is equal to "net foreign investment" in the
National Income and Product Accounts (NIPA's). However, the foreign transactions account in the NIPA's (a) includes adjustments to the international transactions accounts for
the treatment of gold, (b) excludes capital gains and losses of foreign affiliates of U.S. parent
companies from the NIPA's measure of income receipts from direct investment abroad, and
from the corresponding income payments, and (c) beginning with 1973-IV, excludes shipments and financing of military orders placed by Israel under Public Law 93-199 and subsequent similar legislation. Line 77 differs from "net exports of goods and services" in the
NIPA's for the same reasons with the exception of the military financing, which is excluded,
and the additional exclusion of U.S. Government interest payments to foreigners. The latter
payments, for NIPA's purposes, are excluded from "net exports of goods and services" but
included with transfers in "net foreign investment." A reconciliation table of the international
accounts and the NIPA's foreign transactions account appears in the Business Situation
article in this issue of the SURVEY OF CURRENT BUSINESS.
12. Due to the introduction of new reporting forms for nonbank claims and liabilities, the
maturity breakdown is available only on the limited basis shown in table 7.
13. Due to the introduction of new reporting forms for bank-related transactions, the maturity breakdown is available only on the limited basis shown in table 8.
14. Includes foreign currency denominated notes sold to private residents abroad. See
table 9, line 35, footnote 7.
Table 2:
For footnotes 1-14, see table 1.
Table 3:
1. Exports, Census basis, represent transaction values, f.a.s. U.S. port of exportation;
imports, Census basis, represent transaction values, f.a.s. foreign port of exportation. The
unadjusted figures for exports and imports shown in lines Al, A10, Dl, and D56, are as published by the Census Bureau, as are the seasonally adjusted figures in lines Al and A10;
Census data are adjusted to include trade between the U.S. Virgin Islands and foreign countries. The seasonally adjusted figures in lines Dl and D56 are prepared by BEA and represent
the summation of seasonally adjusted 4-digit end-use categories (see Technical Notes in the
June 1980 SURVEY).
2. Beginning in 1970, adjustments in lines A5, A12, B9, B26, and B43 reflect the Census
Bureau's reconciliation of discrepancies in the merchandise trade statistics published by the
United States and the counterpart statistics published in Canada. These adjustments also
have been distributed to the affected end-use categories in section C.
3. Exports of military equipment under U.S. military agency sales contracts with foreign
governments (line A6), and direct imports by the Department of Defense and the Coast Guard
(line A13), to the extent such trade is identifiable from Customs declarations. These exports
are included in tables 1,2, and 10, line 3 (transfers under U.S. military agency sales contracts);
and the imports are included in tables 1, 2, and 10, line 19 (direct defense expenditures).
4. Addition of electrical energy; deduction of exposed motion picture film for rental rather
than sale; deduction of exports to the Panama Canal Zone before October 1,1979; net change
in stock of U.S.-owned grains in storage in Canada; net timing adjustments for goods recorded
in Census data in one period but found to have been shipped in another; and coverage adjustments for special situations in which shipments were omitted from Census data.
5. Correction for discrepancy between sum of four quarters, seasonally adjusted, and the
unadjusted annual totals, plus the difference between Census published seasonally adjusted
totals and the summation of seasonally adjusted 4-digit end-use categories.
6. Addition of electrical energy; deduction of foreign charges for repair of U.S. vessels
abroad, which are included in tables 1, 2, and 10, line 22 (other transportation); deduction of
imports from Panama Canal Zone before October 1, 1979; net timing adjustments for goods
recorded in Census data in one period but found to have been shipped in another; and coverage adjustments for special situations in which shipments were omitted from Census data.
7. Annual and unadjusted quarterly data shown in this table correspond to country and
area data in table 10, lines 2 and 18, except that imports from international organizations,
namely, purchases of nonmonetary gold from the IMF, are included in data for other countries
in Asia and Africa. The memorandum items are defined as follows: Industrial countries:
Western Europe, Canada, Japan, and Australia, New Zealand, and South Africa: members of
OPEC: Venezuela, Ecuador, Iraq, Iran, Kuwait, Saudi Arabia, Qatar, United Arab Emirates
Indonesia, Algeria, Libya, Nigeria, Gabon: Other countries: Latin American Republics,
Other Western Hemisphere, and Other countries in Asia and Africa, less OPEC and the
IIMF.
8. The statistical identification of automotive products exports to Canada (line D43) is
not as complete and comprehensive as the identification of imports under the U.S.-Canada
Automotive Products Trade Act. However, the underestimation of automotive shipments to
Canada due to unidentified auto parts and unreported exports, amounting to about $2,034
million in 1979, has been largely corrected in line C19.
9. Includes nuclear fuel materials and fuels.
Table 4:
1. Expenditures to release Israel from its contractual liability to pay for defense articles
and services purchased through military sales contracts—authorized under Public Law
93-199 and subsequent similar legislation—are included in line A3. Deliveries against these
military sales contracts are included in line CIO; see footnote 2. Of the line A3 items, part of
the military expenditures is applied in lines A38 and A41 to reduce short-term assets previously recorded in lines A36 and C8; this application of funds is excluded from lines C3 and
C4. A second part of line A3 expenditures finances future deliveries under military sales contracts and is applied directly to lines A37 and C9. A third portion of line A3, disbursed directly
to finance purchases by Israel and other countries from commercial suppliers, is included in
line A32.
2. Transactions under military sales contracts are those in which the Department of Defense
sells and transfers military goods and services to a foreign purchaser, on a cash or credit basis.
Purchases by foreigners directly from commercial suppliers are not included as transactions
under military sales contracts. The entries for the several categories of transactions related to
military sales contracts in this and other tables are partially estimated from incomplete data.
3. The identification of transactions involving direct dollar outflows from the United States
is made in reports by each operating agency. Data for the fourth quarter 1980 are extrapolated
estimates by BEA, because of incomplete reports from one operating agency.
4. Line A33 includes foreign currency collected as interest and lines A38 and B2 include
foreign currency collected as principal, as recorded in lines A13 and A14 respectively.
5. Includes (a) advance payments of the Department of Defense (on military sales contracts)
financed by loans extended to foreigners by U.S. Government agencies and (b) the counter
value of the part of line CIO which was delivered without prepayment by the foreign purchaser. Also, includes expenditures of appropriations available to release foreign purchasers
from liability to make repayment.
6. Excludes liabilities associated with military sales contracts financed by U.S. Government grants and credits and included in line C2.
Table 5:
1. Acquisition of capital stock of existing and newly established companies, capitalization
of intercompany accounts, and other equity contributions.
2. Sales and liquidations of capital stock and other equity holdings, total and partial.
3. Petroleum includes the exploration, development and production of crude oil and gas
and the transportation, refining and marketing of petroleum products exclusive of petrochemicals. Manufacturing excludes petroleum refining and the smelting operations of mining
companies. "Other" industries includes industries other than petroleum and manufacturing,
the major ones being agriculture, mining and smelting, public utilities, transportation, trade,
insurance, finance and services.
Table 6:
1. As published in Treasury Bulletin. Treasury data are based on transactions by foreigners
reported by banks and brokers in the United States; net purchases by foreigners (+) correspond to net U.S. sales (+).
2. Redemptions consist of scheduled retirements and identifiable premature retirements
of U.S.-held foreign debt securities, and estimates for redemptions of Canadian issues held by
U.S. residents based on Canadian statistics. Unidentifiable nonscheduled retirements appear
in line 31.
3. Consists of International Bank for Reconstruction and Development (IBRD), International Development Association (IDA), International Finance Corporation (IFC), Asian
Development Bank (ADB), and Inter-American Development Bank (IDB).
4. Mainly reflects exclusion of investments by foreign official agencies in U.S. corporate
stocks and in debt securities of U.S. Government corporations and agencies, private corporations and State and local governments. These investments are included in table 1, lines 60
and 63.
5. Securities newly issued by finance subsidiaries incorporated in the Netherlands Antilles
are included to the extent that the proceeds are transferred to U.S. parent companies.
Table 7:
1. Consists of Western Europe, Canada, Japan, Australia, New Zealand, and South Africa.
2. Mainly in the Bahamas and Cayman Islands.
3. Based on data for Ecuador, Venezuela, Indonesia, and other Asian and African oilexporting countries.
4. Includes funds obtained by finance subsidiaries incorporated in the Netherlands Antilles
from sources other than sales of newly issued securities to the extent that they are transferred
to U.S. parent companies.
TableS:
1. Consists of Western Europe, Canada, Japan, Australia, New Zealand, and South Africa.
2. Mainly in the Bahamas and Cayman Islands.
3. Based on data for Ecuador, Venezuela, Indonesia, and other Asian and African oilexporting countries.
4. Includes central governments (central banks, departments, and agencies), state, provincial and local governments, and international and regional organizations.
Table9:
1. Negotiable certificates of deposit issued to foreigners by U.S. banks are included with
U.S. banks' custody liabilities, and are shown in the memorandum.
2. Mainly negotiable and readily transferable instruments; excludes U.S. Treasury securities.
3. Consists of Western Europe, Canada, Japan, Australia, New Zealand, and South Africa.
4. Mainly in the Bahamas and Cayman Islands.
5. Based on data for Ecuador, Venezuela, Indonesia, and other Asian and African oilexporting countries.
6. Mainly the International Bank for Reconstruction and Development (IBRD), International Development Association (IDA), International Finance Corporation (IFC), Asian
Developing Bank (ADB), Inter-American Development Bank (IDB), and the Trust Fund
of the International Monetary Fund.
7. Consists of U.S. Treasury notes denominated in foreign currencies, sold through foreign
central banks to domestic residents in country of issue; notes are subject to restricted transferability.
8. Valuation of foreign currency indebtedness based on market exchange rates at end of
month.
Table 10:
For footnotes 1-9 see table 1.
10. See footnote 11 to table 1.
11. The "European Community (9)" include the "European Communities (6)," the United
Kingdom, Denmark and Ireland.
12. The "European Communities (6)" include Belgium, France, Germany, Italy, Luxembourg, the Netherlands, the European Atomic Energy Community, the European Coal and
Steel Community, and the European Investment Bank.
13. Includes transactions with U.S. affiliated shipping companies operating under the
flags of Honduras, Liberia, and Panama, and U.S. affiliated multinational trading companies,
finance, and insurance companies, not designated by country.
14. See footnote 12 to table 1.
15. See footnote 13 to table 1.
16. Details not shown separately; see totals in lines 57 and 64.
17. Details not shown separately are included in combined lines 72 and 73.
SUEVEY OF CUEEENT BUSINESS
62
March 1981
Table 10.—U.S. International
[Millions
Western Europe
Line
(Credits (+); debits (-)) 1
1979
1980
1980 f
I
1 Exports of goods and services ^
__
__
2
3
4
5
6
7
8
9
10
Merchandise adjusted excluding military 3
Transfers under U S military agency sales contracts
Travel
-Passenger fares
Other transportation
Fees and royalties from affiliated foreigners
Fees and royalties from unaffiliated foreigners
Other private services
TJ S Government miscellaneous services
11
12
13
14
15
Keceipts of income on U.S. assets abroad:
Direct investment
Interest dividends and earnings of unincorporated affiliates
Reinvested earnings of incorporated affiliates
_
Other private receipts
TJ S Government receipts
_
--
-
27
28
29
30
31
Imports of goods and services
Merchandise adjusted excluding military ^
Direct defense expenditures
Travel
-Passenger fares
-Other transportation
_
Fees and royalties to affiliated foreigners
Fees and royalties to unaffiliated foreigners
_..Private payments for other services
U S Government payments for miscellaneous services .
_
Payments of income on foreign assets in the United States:
Direct investment
Interest dividends and earnings of unincorporated affiliates.
Reinvested earnings of incorporated affiliates
Other private payments
U S Government payments
-
32
U S military grants of goods and services, net
33
Unilateral transfers (excluding military grants of goods and services), net
17
18
19
20
21
22
23
24
25
26
-- -- -_
_
-
-
-
-_
U S Government grants (excluding military grants of goods and services)
U S Government pensions and other transfers
_ _ __ __ _
_
Private remittances and other transfers
34
35
36
U S assets abroad net (increase/capital outflow ( — ) ) _
__
U S official reserve assets net ^
Gold
- - - Special drawing rights
-Reserve position in the International Monetary Fund
Foreign currencies
--
37
38
39
40
41
42
_
_ _
_
_ _ _ _ _
_ _ _ _ _ _ _ _
-
.
__
106,941
67, 692
2,440
1,837
1,034
3,832
2,886
515
938
88
28,929
••18,286
392
302
171
903
705
125
231
23
27,206
17, 888
491
538
272
1,025
683
128
234
17
24,422
15, 121
956
598
393
976
676
131
236
28
26,384
16, 397
602
399
198
929
823
132
238
20
16, 756
6,234
10, 522
6,149
575
16, 105
7,685
8,421
8,954
619
5, 499
1,886
3,612
2,154
140
3,494
2,165
1,329
2,307
129
3,102
1,599
1,503
2,074
133
4,011
2,035
1,976
2,419
218
43
103
14
37
14
38
-75, 244
••-41,826
-4, 597
-2, 842
-2, 348
-3, 199
395
-196
-911
-444
-87,455
-47, 235
-6, 383
-3, 027
-2, 626
-3, 446
-573
-210
-981
-472
-21, 659
-12,331
-1, 451
-358,
-500
-855
-97
-52
-240
-106
-22,432
-11, 898
-1, 601
-928
860
-872
-173
-53
-245
-118
-21,639
-11, 654
-1,573
-1, 196
-760
-854
-148
-53
-247
-123
-21,725
-11, 352
-1, 759
-545
-506
-864
-155
-53
-249
-125
-4, 246
-1, 646
-2, 600
-7, 639
-6, 601
-5, 380
-2, 144
-3, 236
-10, 324
-6, 799
-1,213
-388
-825
-2, 653
-1,803
-1, 286
-504
-781
—2 149
-1, 597
1,378
-456
-923
-2, 961
-1, 778
-
U S Government assets other than official reserve assets, net
U S loans and other long-term assets
Repayments on U S loans ^
U S foreign currency holdings and U S short-term assets net
47
48
49
50
51
U S private assets net
Direct investment
_
_
Eouity and intercompany accounts
Reinvested earnings of incorporated affiliates
Foreign securities
U.S. claims on unaffiliated foreigners reported by U.S. nonbanking concerns;
Long-term
- _ _ _ __
Short-term
_
_ _
_ _ _ _
_
_
U.S. claims reported by U.S. banks, not included elsewhere:
Long-term
_
___ __ __ ___
_
_ _ _ _ _ _ _ __
Short-term
---
52
53
54
55
--
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
Foreign official assets in the United States net
U S Government securities
U S Treasury securities "
Other 7
_ _ _
Other U S Government liabilities 8
U S liabilities reported by U.S. banks not included elsewhere
Other foreign official assets ®
Other foreign assets in the United States net
Direct investment
Equity and intercompany accounts
Reinvested earnings of incorporated affiliates
U S Treasury securities
U S securities other than U.S. Treasury securities
U.S. liabilities to unaffiliated foreigners reported by U.S. nonbanking concerns:
Long-term
Short-term
U.S. liabilities reported by U.S. banks, not included elsewhere:
Long-term
Short-term
Allocations of special drawing rights
Statistical discrepancy (sum of above items with sign reversed)
Memoranda:
Balance on merchandise trade (lines 2 and 18)
Balance on goods and services (lirec 1 and 17) i"
Balance on goods services and remittances (lines
77 35, and 36)
Balance o n current account (lines 7 7 a n d 3 3 )10
See footnotes on page 61.
_
_ _ _ _ _ _
____
__
-103
-14
-37
-14
-38
-145
-35
3
29
-141
-169
-539
544
-245
-562
662
-68
-136
168
-15
-136
154
-4
-141
175
-158
-148
165
-25, 464
496
-27,744
-6, 139
-4,652
-1,880
-9,539
550
-691
-517
-12,862
-4, 291
496
-6, 139
-1,880
550
-517
-4,291
-130
-1,108
955
24
-658
-1,711
1,068
-15
-109
-363
214
40
-177
-438
284
-22
-150
-332
215
-33
-223
-579
356
(*)
-25, 831
-11,768
-1,246
-10,522
-2,613
-20, 947
-13,542
-5, 122
-8, 421
-1,205
-2, 663
-3, 586
26
-3, 612
-108
-9,911
-2, 016
-686
-1,329
-772
-25
-1, 998
-495
-1,503
-248
-8, 348
-5, 943
-3, 967
-1,976
-77
i* -1,828
n.a.
H404
14 -49
14352
n.a.
_ ___
_ _ _ _ _ _ _ _
is-9,621
is -6, 907
15627
15 -7,075
15-1,869
is -2, 328
19,282
10, 141
-989
1,244
1,129
8,756
_ -- - -
-7,846
-4, 302
-8, 386
-1,907
1,239
_
- -
_
(16)
.
(16)
[
O6)
(16)
27, 128
6,800
4,201
2,600
14, 443
4,373
1,137
3,236
82
- _-_
_ __ , __ _
(16)
- --___
-
-43
-164
_
Foreign assets in the United States net (increase/capital inflow (-f-))
56
-1, 503
-796
-707
-2, 561
-1, 622
_
-- -
43
44
45
46
IV P
III"
89,049
••54,101
1,557
1,667
834
3,376
2,533
468
874
160
Transfers of goods and services under U S. military grant programs, net
16
II
-- ___
- -_ __
_ _ _ _ _ _ _
}
}
(16)
(16)
-282
101
(16)
(16)
7,397
1,078
252
825
(16)
-429
-56
(16)
3,151
2,326
1,620
707
(16)
(16)
-110
812
31
781
6,085
1,663
1,388
898
14 914
n.a.
"648
i* 1, 155
14 116
(16)
(16)
-7,459
-1,738
-1,595
12, 275
13, 805
13, 810
13, 641
20, 457
19, 486
19,586
19, 341
5,955
7,271
7,303
7,235
(16)
3,517
5,990
4,775
4,792
4,777
101
(16)
(16)
1,844
(16)
4,751
(16)
(16)
(16)
4,005
157
-766
923
(16)
2,136
n.a.
(16)
-3,250
-411
3,467
2,782
2,816
2,812
5,045
4,658
4,675
4,517
March 1981
SURVEY OF CURRENT BUSINESS
63
Transactions, by Area
of dollars]
European Communities (9)n
United Kingdom
1980
I
II
III'
IV *
1980
1980 r
1979
1980 t
1979
European Communities (6) 12
I
II
1979
III'
I
IV*
Line
1980
1980 P
II
III'
IV P
70, 001
'42,398
934
1,273
661
2,323
2,285
393
639
106
84,568
53, 638
1,702
1,418
823
2,690
2,547
432
688
66
22, 912
* 14, 300
273
232
140
635
636
104
169
17
21,603
14, 338
378
428
218
728
604
108
171
13
19, 364
12, 115
598
466
314
682
564
110
173
20
20, 690
12, 885
452
292
152
644
744
111
174
17
21,991
10, 795
179
375
248
778
747
103
229
56
26, 142
12, 614
356
469
315
889
814
114
234
43
6,685
'3,228
73
76
56
206
179
28
59
11
6,905
3,662
64
135
85
252
200
28
58
10
5,982
2,699
126
148
109
223
180
29
59
15
6,570
3,025
93
110
65
209
254
29
59
8
45,484
'30,165
724
849
377
1,295
1,442
282
384
41
55, 469
39, 372
1,085
895
465
1,523
1,610
310
425
21
15,484
10, 635
150
145
77
365
430
75
103
6
13,979
10, 266
277
275
118
404
373
77
106
3
12,615
9,031
367
305
193
389
342
79
107
5
13,391
9,440
291
170
77
366
464
80
108
8
1
2
3
4
5
6
7
8
9
10
13, 766
5,030
8,736
4,995
227
1
12, 968
6,242
6,726
7,390
206
4,598
1,536
3,062
1,779
29
2,665
1,787
878
1,913
40
2,566
1,374
1,192
1,725
30
3,139
1,545
1,595
1,973
107
5,328
1,845
3,483
3, 068
85
5,351
2,464
2,887
4,854
90
1,602
476
1,126
1,164
5
1,124
679
445
1,280
6
1,229
504
725
1,159
7
1,397
806
591
1,250
72
7,899
3,055
4,845
1,889
136
7,161
3,647
3,514
2,493
110
1
2,872
1,020
1,852
604
23
1,428
1,071
357
620
32
•»
1,219
838
381
556
22
1,642
718
923
713
32
11
12
13
14
15
-58,975
r- 33. 222
-3, 869
-2,054
-1,728
-2, 239
-269
-174
-768
-258
-3, 798
-1,327
-2, 470
-5, 368
-5, 229
—1
-1
-1
(*)
(*)
-66,947 -16,485 -17,344 -16,542 -16,577
-36, 077 -9, 346 -9, 207 -8,801 -8, 723
-4,508 -1,086 -1,066 -1,193 -1,163
-875
-240
-733
-366
-2, 214
-639
-567
-385
-356
-1,947
-621
-615
-603
-620
-2, 460
-125
-116
-111
-61
-413
-47
-46
-46
-47
-186
-207
-824
-203
-206
-209
-72
-282
-63
-68
-79
-16,057
'-8, 009
-505
-826
-683
-762
-106
-89
-360
-50
-20,356
-9, 848
-674
-897
-806
-831
-118
-97
-381
-46
-4,764
-2, 425
-164
-69
-150
-203
-26
-24
-93
-14
-5,147
-2, 300
--162
-332
-263
-211
-22
-24
-95
-10
-5, 156
-2, 562
-186
-322
-233
-210
-34
-25
-96
-13
-1,442
-685
-757
-1,839
-1,352
-783
-469
-314
-3, 102
-782
-1,073
-583
-490
-4, 505
-1,081
-140
-86
-54
-1,195
-261
-310
-228
-82
-1,165
-253
-323
-120
-203
-888
-265
(*)
(*)
-5, 019
-1,793
-3, 226
-7,303
-5, 715
(*)
-1,093
-326
-768
-1,908
-1,480
-1,177
-400
-776
-1,496
-1,377
-1,307
-382
-925
-2, 060
-1,506
122
1
1
345
491
120
113
135
—16
-382
743
-6
-386
883
-5
-95
220
-1
-95
210
(*)
-96
231
-20,618
1,889
-22,651
—5, 160
-3,569
-1, 651
-8, 199
269
1,889
-5, 160
-1,651
269
-117
-3, 661
1
(*)
1
51
-851
-279
-571
-602
-1,104
-1,003
-231
-772
-793
-1,196
27
28
29
30
31
85
-955
-3,944
-239
-1,206
-716
-2, 738
-699
-2, 760
-4, 598 -1,209
1
(*)
88
347
-1, 136
-458
-678
-666
-1,090
78
97
1
32
51
255
—6
-293
647
-5
-73
165
_1
-73
153
(*)
-72
169
-76
160
-1,252
269
-1,958
—117
-7,251
—3, 661
33
qj
«J3
35
36
37
-15
59
-15
61
-17
68
-16
67
-241 -10,642
-117 -3, 661
-15,550
-8,043
209
-6,874
1,798
-3, 176
-4,492
1,889
-14,112
—5, 160
-3, 651
-1,651
1,889
-5, 160
-1,651
269
—117
-3, 661
-59
-229
170
156
-22
146
32
-178
-337
159
(*)
66
-80
-115
58
—22
-33
-65
29
3
-82
-118
36
44
45
46
47
-6, 922
-5, 043
-3, 448
-1, 595
-105
-15,706
-3, 756
-273
-3, 483
-807
-1, 442 -1, 808
-765
-519
-408
-138
-357
-381
-271
-67
-3, 508
-2, 799
-1,875
-923
-270
48
49
50
51
52
n.a.
" -1, 181
{
n.a.
is -439 j
{
53
54
55
-157
-225
81
-14
-22, 808
-9, 474
-738
-8, 736
-2, 001
-17, 176
-11, 498
-4, 772
-6, 726
-993
-1, 892
-3,111
-50
-3,062
-ICO
-8,311
-1,441
-564
-878
-561
-50
-1, 903
-711
-1, 192
-227
" -1,639
n.a.
"429
i4ii5
H224
J5890 5-6, 423 is 1, 855 15-1,774
-222
1
(*)
46
17
18
19
20
21
22
23
24
25
26
-63
256
-26
-108
41
41
1,430
-3, 013
-857
-2, 157
-2, 208
-4, 352
16
-55
190
-316
-676
334
27
6,720
44
-301
-149
-151
-1,257
-301
(*)
-44,714 -11,277 -11,728 -10,894 -10,815
-25, 092 -6, 639 -6, 633 -5, 976 -5, 844
-905
-891
-991
-3, 781
-994
-160
-1,164
-358
-468
-178
-183
-200
-337
-1,018
-298
-324
-337
-344
-1,344
-339
-29
-67
-271
-97
-78
-22
-22
-22
-22
-87
-106
-107
-107
-107
-426
-47
-56
-69
-229
-57
-100
222
301
-41
323
19
20, 597
(*)
193
—1
(*)
-5,290 -41,072
-2, 561 ••-24, 187
-162
-3, 308
-1,059
-174
-932
-160
-1,187
-207
-150
-37
-83
-25
-392
-97
-200
-9
—16
-299
570
-73
-115
42
| is-9,694is -5, 452
135
(*)
1,330
4,182
-7, 865
300
-5, 332 -1,425
-2, 445
-299
-2, 887 -1, 126
-52
219
n.a.
is-9,963 is -2, 895
15,515
-91
-96
6
2
5,361
1*212
-88
-109
18
3
-40
-50
11
-1
41
-83
124
145
-2
152
-4
-129
-299
148
22
1,838
-6, 786
-553 -1,330
-107
-605
-445
-725
-154
-291
-3, 217
-2, 025
-1,434
-591
174
-6,526
-5, 101
-256
-4, 845
-1, 182
-8, 824
-5, 689
-2, 175
-3, 514
-928
n.a.
14 -442
n.a.
14-37
H239
is 1, 294 is -5, 905 is 3, 082 is-1,366
4,946
-694
651
457
(*)
25
41
-2, 066
-1, 606
247
-1,852
-320
14200
"198
8 -2, 536
is -340
5,643
1,996
-2,983
14141
H
-12
is -547 is-1,210
491
741
38
39
40
41
42
43
3,747
56
57
[
(n)
17
-76
!• ( >
6,031
3,561
2,470
(17)
1,916
|
" 939
] "11,787
(17)
-407
(17)
(17)
-8
17
( )
(17)
-32
(17)
(17)
(17)
-243
(17)
3,882
657
3,226
17
893
125
768
(17)
2,045
1,288
757
(17)
(17)
5,000
1,086
1,202
1,050
( )
886
110
776
(l7)
-124
(17)
59
-867
925
(17)
1,663
(17)
81
(17)
1,738
1,424
314
(17)
1,626
-79
17
Q
-257
-217
(17)
(17)
(17)
750
260
490
( ir )
3,718
101
47
54
1T
( )
936
661
579
82
1T
( )
702
355
152
203
17
( )
969
-367
-518
151
4,276
2,119
2,157
(")
274
3,109
371
2,738
(17)
1,277
H
n.a.
n.a.
17 2, 585
i 7 11, 728
17_4
14438
15557
14
-19
(17)
1,112
n.a.
173,454 17-2, 585
17 -595
17 -278
-3,326
1,388
-11,351
-2,181
-4,408
4,048
-4,046
2,225
-6,034
-3,296
-7,121
9,176
11, 026
11,387
11, 372
17,561
17, 621
18, 118
18, 112
4,954
6,427
6,552
6,547
5,131
4,260
4,374
4,373
3,314
2,822
2,957
2,957
4,162
4,113
4,235
4,235
2,786
5, 934
6,069
6,069
2,766
5,786
5,978
5,978
803
1,922
1,966
1,966
-59
(l7)
(17)
17 -427
14343
-29
(17)
(17)
(17)
17-3,384 i7-!, 067 1-4,475
n.a.
17
(17)
(17)
i*64
"527
(I7)
( )
"1,038
n.a.
(17)
5,764
1,362
1,758
1,804
1,804 |
1
137
826
877
877
464
1,280
1,331
1,331
(17)
(17)
-2
-23
(17)
(")
(17)
-117
150
1481
14475
1484
17754 "-2, 813 17-3, 983 17-1,876
596
(17)
-75
(17)
(17)
1,392
714
678
17
( )
503
792
76
716
517
-55
571
7
409
-363
772
76
548
O)
1f
58
i 59
1 60
61
f 62
\ 63
1 64
65
66
j
67
68
69
(17)
(17)
j
1
70
71
17181
172,865 1f
72
73
n.a.
-5,819
1,015
2,340
-1,568
-600
844
74
75
5,978
4,412
4,683
4,668
14, 280
10, 754
11, 108
11, 101
3,996
4,207
4,299
4,294
3,633
2,251
2,330
2,329
3,055
1,721
1,818
1,818
3,596
2,576
2,660
2,660
76
77
78
79
I
I
SURVEY OF CURRENT BUSINESS
64
March 1981
Table 10.—U.S. International
[Millions
Eastern Europe
(Credits (+); debits (-)) '
Line
1979
1980
1980 P
I
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
Exports of goods and services ^
Merchandise adjusted excluding military ^
Transfers under U S. military agency sales contracts—
__
Travel
- Passenger fares
- Other transportation
- - __
- _
Fees and royalties from affiliated foreigners
- -Fees and royalties from unaffiliated foreigners
Other private services
- - - -_
TJ S Government miscellaneous services
_
Receipts of income on U.S. assets abroad:
Direct investment
Interest dividends and earnings of unincorporated affiliates
Reinvested earnings of incorporated affiliates
Other private receipts
-- -- U S Government receipts
__ _
Transfers of goods and services under U.S. military grant programs, net.
27
28
29
30
31
Imports of goods and services
Merchandise adjusted excluding military '
Direct defense expenditures
- -_
Travel
Passenger fares
- Other transportation
- Fees and royalties to affiliated foreigners
Fees and royalties to unaffiliated foreigners
Private payments for other services
U S Government payments for miscellaneous services
Payments of income on foreign assets in the United States:
Direct investment
Interest dividends, and earnings of unincorporated affiliates _ _
Reinvested earnings of incorporated affiliates
Other private payments
_
_ _
U S Government payments
32
U.S. military grants of goods and services, net
33
Unilateral transfers (excluding military grants of goods and services), net
17
18
19
20
21
22
23
24
25
26
--
-- - __ _
-
U S assets abroad net (increase/capital outflow ( — ))
U S official reserve assets net *
Gold
—
Special drawing
rights
Reserve position i n t h e International Monetary Fund
Foreign currencies
37
38
39
40
41
42
-.
U S Government assets other than official reserve assets net
U S loans and other long-term assets
Repayments on U S loans 8
U S foreign currency holdings and U S. short-term assets net
43
44
45
46
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
Foreign official assets in the United States net
U S Government securitiesfl
U.S. Treasury securities
Other 7
Other U S Government liabilities 8
U.S. liabilities reported by 9U.S. banks, not included elsewhere
Other foreign official assets
Other foreign assets in the United States, net
_
Direct investment
Eouity and intercompany accounts
74
75
Allocations of special drawing rights
Statistical discrepancy (sum of above items with sign reversed)
76
77
78
79
Memoranda:
Balance on merchandise trade (lines 2 and 18) l
Balance on goods and services (lines 1 and 17) °_.Balance on goods, services, and remittances (lines
77, 35, and 36)
Balance an current account (lines 77 and 33) 10
122
74
21
21
16
16
30
84
9
33
79
3
8
20
1
8
20
1
8
20
1
211
113
337
145
84
26
91
43
73
41
89
35
-
-2, 132
••-1,896
-2
-71
-20
-77
i
-21
-21
-1,657
-1,444
-2
-56
-22
-77
-375
-334
(*)
-422
-346
-454
-396
-1
-18
-9
-18
-406
-368
-1
-5
-1
-19
-
-
_—
_.
--
- -- -
-23
(*)
8
20
(*)
-1
<-i
-1
-20
(*)
-2
26
-21
(*)
-29
-11
-20
°-2
-8
-6
-2
-6
-5
(*)
(*)
(*)
(>)
-2
-5
-6
-4
(*)
(*)
- -
._
_
--
-90
-88
-22
-23
-20
-23
-17
-72
-23
-65
-5
-17
-6
-18
-6
-14
-7
-16
-803
200
-243
94
254
96
-197
-569
345
27
287
-188
458
17
58
-42
94
6
44
-88
121
12
124
-42
166
(*)
-606
-86
-301
50
130
61
-16
77
(*)
35
_ __.
___ _ _ _ _
-
-
-
(*)
_ _
1*6
1*112
n.a.
}
is -574
» -180
15 -277
1544
1818
i«35
-24
77
-71
89
4
55
-- i
(17)
1
(I7)
_
n.a.
H -24
i* -32
(17)
-1
-
(*)
(*)
1
_
U.S. Treasury securities
_
U.S. securities other than U.S. Treasury securities
U.S. liabilities to unaffiliated foreigners reported by U.S. nonbanking concerns:
Long-term
Short-term
_
__
U.S. liabilities reported by U.S. banks, not included elsewhere:
Long-term
Short-term
See footnotes on page 61.
1,563
1,395
_
U S private assets net
Direct investment
_
Eouity and intercompany accounts
Reinvested earnings of incorporated affiiliates
Foreign securities
U.S. claims on unaffiliated foreigners reported by U.S. nonbanking concerns:
Long-term
_ _
__ _ _ _
—
Short-term
- -- U.S. claims reported by U.S. banks, not included elsewhere:
Long-term
- -- Short-term
- - Foreign assets in the United States net (increase/capital inflow (-)-"))
47
48
49
50
51
844
685
__
U S Government grants (excluding military grants of goods and services)
U S Government pensions and other transfers
Private remittances and other transfers
34
35
36
934
750
-
--
--
1,390
1,229
--
-
—
_
IV *
4,731
4,059
-_
- - -
III'
6,565
'5,995
_
_
II
(17)
_- _
O7)
(17)
O7)
(17)
(*)
(*)
(*)
(*)
(")
(">
(17)
(17)
(17)
(17)
(17)
C7)
n.a.
14-21
(*)
(17)
C7)
(*)
_
_
|
}
K-5
" -18
17107
17-50
14 -10
J7
1*1
n.a.
99
173
!755
-3,516
-3,264
-679
-671
-628
-1,286
4,099
4,432
4,343
4,343
2,615
3,074
2,986
2,986
895
1,015
994
994
404
511
488
488
289
390
370
370
1,027
1,158
1,135
1,135
SURVEY OF CURRENT BUSINESS
March 1981
65
Transactions, by Area—Continued
of dollars]
Canada
1
Latin American Republics and Other Western Hemisphere
1980
1979
II
I
III'
IV P
50,091
36,285
101
2,092
53,841
39, 204
84
2,428
13,522
9,637
19
733
13,744
10, 158
13
619
12,812
9,231
30
604
13,763
10, 178
21
472
633
824
38
552
13
689
941
42
618
19
153
203
10
150
1
177
225
10
156
3
182
231
11
156
13
5,339
2,456
2,884
4,199
16
5,071
2,252
2,820
4,726
19
1,407
482
925
1,207
2
1,212
591
621
1,164
7
1,176
373
803
1,176
2
-43,287
'-38, 655
-95
-1,599
-574
-146
-14
-396
-35
1980
1979
1980 P
1980 "
I
177
282
11
156
2
6,972
5,033
11
208
115
309
96
98
41
1
7,234
5,203
14
190
118
352
110
100
42
1
7,275
5,193
70
216
104
360
111
102
43
1
7,450
5,377
36
160
103
347
89
103
43
1
1
2
3
4
5
6
7
8
9
10
1,277
807
471
1,178
8
6,295
3,706
2,589
9,546
339
7,265
4,036
3,229
14, 463
365
1,443
827
616
3,337
84
2,202
1,171
1,031
3,556
84
1,874
922
952
3,218
109
1,746
1,116
630
4,352
89
872
447
424
2,110
112
822
573
249
3,444
164
208
124
83
814
39
170
144
26
903
31
249
275
-26
773
54
195
29
166
955
41
11
12
13
14
15
6
7
2
1
1
3
(*)
16
-9,596
-7, 949
-262
-53
—39
-476
21
-4
-33
-10
-9,808
-7, 997
-290
-38
—23
-487
15
-4
-33
-9
17
18
19
20
21
22
23
24
25
26
-241
-73
-168
-192
-399
-205
-20
-186
-144
-442
-123
-8
-116
-221
-598
27
28
29
30
31
(*)
32
-24
-19
-15
33
34
35
36
-206
-32
-42
-59
-73
-525
-221
-304
-4, 780
-96
—6
-1,019
-873
-341
-532
-6, 616
-209
-174
-69
-105
-1,841
-39
-2
—1
-3
1
1
-259
-272
-299
-308
-67
-64
-6
—339
-195
-603
—72
-48
-140
—73
-48
-151
—98
-53
-148
—97
-47
-165
(*)
-10
-57
-9
-55
6
-11
-5
-19
-5
-15
-4
-11
-9,562 -13,645
-9,508
-5,500
—239
-7,087
—333
-3,333
—202
-2,600
—61
-806
—37
-349
—33
-42
(*)
-51
-8
-53
-20
—341
-170
-508
-2, 146
-795
(*)
-966
-14,969
-32, 756
-42
-63
-81
18
-310
-1,175
863
2
-490
-1,642
1,150
2
-83
-315
240
—8
-6,520
-3,798
-915
-2,884
-2,523
-6,455
-3, 447
-628
-2, 820
-1, 994
-2, 617
-1, 142
-217
-925
-907
-2, 151
-1,295
-674
-621
-457
-784
-509
294
-803
-331
-903
-501
-30
-471
-299
-14, 659
-4,043
-1, 454
-2, 589
310
-32, 266
-4, 278
-1,048
-3,229
36
41
-678
-61
-616
143
1174
14-49
n.a.
i* -377
n.a.
is -473
15105
is-1,073 is -602
5,664
1,557
997
2,344
766
-597
-302
-233
524
-254
-338 1
(16)
(16)
-9
2,540
759
356
403
(16)
33
(16)
5,965
2,231
791
1,441
(16)
639
[
i* 314
|
O6)
(16)
(16)
981
n.a.
(16)
20
(16)
11
(16)
(16)
3
(*)
(16)
19,912
(17)
6,667
(17)
-20
'
[
-26
2,598
1,303
7
1,296
1,104
552
553
-2
362
-28
107
450
i« -243
i* -16
14 _27
n.a.
(16)
(16)
(16)
(16)
i 7 18, 102
i7 5, 217
(16)
(16)
(16)
(16)
1,271
967
304
(17)
88
1*471
2,478
O7)
-7
07)
(17)
(17)
473
157
93
65
1,790
220
138
82
-782
-159
-622
-746
-1,838
-212
-58
-154
-189
-400
(*)
829
296
532
176
71
105
(17)
(17)
n.a.
1*222
328
126
—239
—333
—202
—61
—37
—33
66
-25
94
_3
50
-79
128
1
49
-2
50
(*)
-30
-77
46
1
14
14
18
i
19
43
44
45
46
-9,518 -13,435
-1, 402 -1, 144
-192
-371
-952
-1, 031
55
-56
-9,354
-1, 054
-424
-630
-105
-5, 327
-803
-379
-424
-264
-6, 805
-84
165
-249
-1,055
-3, 180
-421
-338
-83
-141
-2,509
-94
-69
-26
-167
-783
127
101
26
-563
-333
305
471
-166
-184
47
48
49
50
51
n.a.
i* -29
n.a.
i* -130
1*54
1*48
1*423
1*66
(*)
-4,083
<")
-1
O7)
146
24
122
2,252
(17)
-16
(17)
49
220
93
127
(17)
-56
14 _77
i*175
(17)
i ? l,960 17-4,200 i 7 1,929
6,020
(17)
-3
(17)
287
108
179
(17)
208
n.a.
-12,074
O7)
221
(17)
692
287
405
(17)
304
1*52
175,528 17 -13,343
6,310
(17)
213
(17)
609
-14
622
(17)
-539
(17)
-23
(17)
171
17
154
(17)
-82
2,973
(»)
224
(17)
299
132
168
(17)
-65
3,036
(17)
10
52
53
( 54
15 -454 \
55
841
(17)
3
56
1f
i
I1
57
58
59
fifl
ou
61
62
-50
n.a.
213
28
186
(17)
i*96
i* -223
i*16
175,681
17 -790
172,737
172,848
n.a.
{
(
n.a.
(
| 63
I 64
-74
65
-190
66
67
116
(17)
68
69
26
O7)
-2,085
-3,823
-173
-1,338
-1,832
-481
-12,226
11,024
-2,796
9,045
6,622
-1,847
26,246
9,887
5,779
2,117
111
-2,370
6,804
6,655
6,655
-3,219
4,911
4,705
4,705
-1,527
1,286
1,254
1,254
256
2,529
2,487
2,487
-231
342
283
283
-1,717
753
681
681
-1, 980
8,302
7,624
7,283
1,422
16,204
15,405
15,066
-1,781
620
432
360
718
4,871
4,672
4,600
1,180
5,070
4,869
4,771
1,305
5,643
5,432
5,335
-8,633
-8,606
-8, 672
-8,672
-10,411
-9,046
-9, 110
-9, 110
-2,254
-1,901
-1,907
-1,907
-2, 781
-2,466
-2,489
-2,489
-2,756
-2,321
-2,341
-2, 341
37
38
39
40
41
42
-153
-445
291
1
-44
-345
281
19
is -103 15-10,549 is-26,615 "2,475 15-8,593 i«-12,302 is -8, 195 is-4,230 is-5,638 15 -2,487 15-2,302 15 -395
1,943
(16)
i* -1, 899
-510
-105
-405
-693
-1,998
-210
-537
338
—10
(*)
-11
-20
8
1
(16)
-243
-64
-179
-1, 957
-69
-8,873 -9,700
-7, 287 -7, 984
-195
-249
-64
-30
—44
—32
-505
-507
24
23
-4
-4
-32
-33
-9
-9
—7
5
-9
12
2
(10)
-210
-88
-122
-1,529
-49
-37,976
-31, 217
-996
-185
— 138
-1,974
84
-17
-131
-37
*
(*)
-1,138
-22
-32
9
1
15 -623
-1
-246
-120
-127
-1, 290
-53
*
-91
-143
47
4
"34
—1
-52,353 -13,904 -12,631 -12,198 -13,621 -32,626
-37, 389 -9, 933 -9,092 -8, 705 -9, 659 r-26, 261
-100
-386
-125
-73
-913
-89
-4, 090 -1, 139
-933 -1,075
-142
-943
-72
-304
-86
-54
-92
— 103
-246
-270
-282
-1,068
-271
-1,926
-4
-4
-4
-17
-5
94
-2
-2
-6
-1
-1
-15
-1,121
-285
-121
-279
-275
-281
-64
-65
-61
-85
-40
-274
7
-19
28
—3
n.a.
IV P
28,930
20, 806
130
774
440
1,369
406
403
169
4
-149
"424
III"
24,020
•• 17, 628
55
699
404
1,180
416
366
151
27
-2
4
2
-432
-46
(*)
II
19,264
10, 964
14
1,090
123
351
263
30
231
10
-1,370
-74
-1,296
-297
-49
(*)
1
17,267
9,885
33
1,184
181
368
135
30
225
26
-145
-80
-65
-307
-52
-6,546 -2,639
(*)
IV P
17,502
9,810
13
960
99
369
136
29
232
13
-126
-44
-82
-361
-51
-6,513
(*)
III'
14,524
8,152
23
714
99
308
92
29
232
12
-1,643
-202
-1,441
-1,396
-199
-43
10
II
Line
1980
1980 P
68, 557
38, 811
82
3,948
501
1,396
627
118
920
61
-48,929 -12,236 -11,214 -12,470 -13,010 -42,572
-42, 423 -11,164 -9, 902 -9, 462 -11,895 '-30, 535
-27
-36
-138
-51
-23
-295
-1,800
-200
-445
-885
-270
-3, 767
-264
-172
-131
-174
-639
-163
-887
-53
-50
-173
-29
-41
-9
-4
-4
-15
-4
-4
-110
-106
-440
-108
-115
-1,058
*-r
-352
-64
-8
-41
-8
-189
-17
1979
50, 875
••28,555
85
3,037
407
1,158
405
107
867
74
-591
-188
-403
-988
-194
-166
17
Japan
(17)
(
i
70
71
17886 (i
72
73
1,881
74
75
-2,620
-2, 358
-2, 373
-2,373
76
77
78
79
SUEVEY OF CUEEENT BUSINESS
66
March 1981
Table 10.—U.S. International
[Millions
Australia, New Zealand, and South Africa
(Credits (+); debits (-)) i
Line
1979
1980
1980 v
I
1 Exports of goods and services 2
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
_ _ _
Merchandise adjusted excluding military '
Transfers under U S military agency sales contracts
Travel
Passenger fares
- Other transportation
Fees and royalties from affiliated foreigners
__
Fees and royalties from unaffiliated foreigners
Other private services
U S Government miscellaneous services
_
Receipts of income on U.S. assets abroad:
Direct investment
Interest dividends and earnings of unincorporated affiliates
Reinvested earnings of incorporated affiliates
Other private receipts
U S Government receipts
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
2,778
1,820
79
82
57
72
83
14
36
(*)
3,155
2,124
43
58
51
65
82
14
36
(*)
1,461
783
679
383
19
1,869
937
932
406
18
468
262
206
78
3
402
190
212
121
5
457
240
217
74
4
543
245
297
133
6
—
-6, 271
•• -5, 493
-27
-183
-140
-208
-7
-1
-38
-41
-7,527
-6, 533
-41
-245
-167
-262
-2
-1
-43
-40
-1,903
-1, 656
-7
-75
-43
-59
-1
(*)
-10
-8
-1,826
-1,610
-9
-32
-35
-66
-1
(*)
-11
-11
-1,707
-1, 482
-12
-36
-46
-71
(*)
(*)
-11
-12
-2, 092
-1, 785
-14
-102
-43
-67
-1
(*)
-11
-10
_ _ __
-35
-35
-58
-40
-44
-35
-9
-77
-72
-11
-9
-1
-18
-16
-13
-10
-4
-19
-19
-6
-5
-1
-18
-12
-14
-12
-2
-22
-24
-41
-53
-10
-14
-12
-17
-10
-31
-10
-42
-3
-7
-3
-12
-3
-10
-3
-14
-99
-1,382
-251
-591
-266
-274
38
-11
43
6
10
-26
30
5
-5
-11
6
(*)
4
-5
10
-2
-1
-7
7
11
-3
7
7
-137
-682
-3
-1,392
-990
-58
-932
19
-247
-205
1
-206
-26
-595
-243
-31
-212
56
-265
-331
-115
-217
9
-286
-211
86
-297
-20
n.a.
14_1
H-55
14 g
-
mports of goods and services
Merchandise adjusted excluding military 3
_ _ _
Direct defense expenditures
_ _
Travel
_
-- Passenger fares
_
Other transportation
Fees and royalties to affiliated foreigners
_ __
Fees and royalties to unaffiliated foreigners
__
Private payments for other services
U S Government payments for miscellaneous services
_ _ __
Payments of income on foreign assets in the United States:
Direct investment
Interest dividends and earnings of unincorporated affiliates
_ _
Reinvested earnings of incorporated affiliates
_ _
Other private payments
U S Government payments
- - -U.S. military grants of goods and services, net__
47
48
49
50
51
2,627
1,712
31
100
54
74
78
13
35
1
Transfers of goods and services under U.S. military grant programs, net
Unilateral transfers (excluding military grants of goods and services), net
43
44
45
46
2,318
1,461
34
60
39
62
66
13
33
(*)
__ _ _
32
37
38
39
40
41
42
IV 9
10,878
7,117
187
300
202
273
309
54
141
2
_ _
33
34
35
36
III'
8,535
«• 5, 434
136
258
168
246
254
49
123
4
—
- -
II
U S Government grants (excluding military grants of goods and services)
U S Government pensions and other transfers
Private remittances and other transfers
U S assets abroad net (increase/capital outflow ( — ))
U S official reserve assets n e t *
Gold
Special drawing rights
Reserve position in the International Monetary Fund
.
Foreign currencies
-- -
-
. _ _
-
_ _ _ _ _
_ __
U S Government assets other than official reserve assets, net
_ _
U S loans and other long-term
assets
Repayments on U S loans5
_
U S foreign currency holdings a n d U S . short-term assets, n e t _ _ _ - _
_ __
__
-
_.
_ _
___.
U S private assets net
-Direct investment
__ _
Equity and intercompany accounts
Reinvested earnings of incorporated affiliates
Foreign securities
U.S. claims on unaffiliate foreigners reported by U.S. nonbanking concerns:
Long-term
Short-term
U.S. claims reported by U.S. banks, not included elsewhere:
Long-term
-- -
-
-679
21
Foreign assets in the United States net (increase/capital inflow (-j-))
- -
U S Treasury
securities6
Other 7
Other U S Government liabilities8
_
U S lisbilities reported bv U S banks not included elsewhere
Other foreign official assets®
Other foreign assets in the United States, net
Direct investment
-
Short-term
Statistical discrepancy (sum of above items with sign reversed)
7
7
7
7
Memoranda :
Balance on merchandise trade (lines 2 and 18)
Balance on goods and services (lines 1 and 17)i"
Balance on goods services and remittances (lines 77, 35, and 36)
Balance on current account (lines 77 and 33) i"
See footnotes on page 61.
;
15 588
15 -373
15-15
is-353
1550
15-55
149
674
476
186
-338
350
-_
|
O7)
r
(I7)
167
151
(17)
O7)
-- -
11
O7)
(17)
(>)
4
-23
-27
4
(17)
10
48
i*13
1477
14-5
(17)
-6
-7
1
(17)
28
(17)
(17)
(17)
18
9
9
2
109
28
(17)
(17)
(17)
(17)
(17)
61
61
_ 21
(17)
47
45
2
4
30
n.a.
1
i<81
|
I 7 _155
i 7 357
17436
1713
17-364
17272
-
-2, 272
-2,590
-630
-382
-456
-1,122
- - --
-59
2,263
2,222
2,222
584
3,351
3,298
3,298
-195
415
405
405
102
801
787
787
338
1,072
1,059
1,059
339
1,063
1,046
1,046
-- --
-
-
-
Reinvested earnings of incorporated affiliates
U S Treasury securities
U S securities other than U S Treasury securities
U.S. liabilities to unaffiliated foreigners reported by U.S. nonbanking concerns:
Long-term
Short-term
U.S. liabilities reported by U.S. banks, not included elsewhere:
74
75
u -64
-
-
n.a.
.
- _ .
Foreign official assets in the United States net
(*)
n.a.
SURVEY OF CURRENT BUSINESS
March 1981
67
Transactions, by Area—Continued
of dollars]
International organizations and unallocated 13
Other countries in Asia and Africa
1980
1979
1980 P
1979
I
II
14,235
«• 10, 985
1,196
185
90
484
133
25
297
40
16, 459
17,466
11, 722
1,407
120
86
517
56
25
308
41
3,068
11, 317
926
230
150
523
187
25
304
55
III'
I
IV P
54,319
' 34, 070
5,261
582
343
1,769
508
91
1,101
r/s
63,794
44, 092
4,547
698
405
1,996
495
101
1,194
183
15, 634
' 10, 068
1,017
163
78
472
119
25
285
47
6,440
5,456
984
2,854
1,122
5,056
4,027
1,028
3,724
1,305
2,265
2,003
263
887
208
-465
-884
419
918
347
1,609
1,389
220
835
298
1,646
1,520
126
1,084
454
256
527
129
117
110
171
-74,822
' -65, 602
-2, 539
-809
-169
-1,216
-9
-2
-232
-397
-93,292
-81, 607
-2, 833
-981
-217
-1,355
177
-2
-258
-446
-24,107
-21, 421
-630
-220
-48
-330
i
-1
-64
-103
-23,994
-21, 083
-741
-249
-44
-346
48
-1
-64
-109
-22,237
-19,400
-741
-263
-59
-342
60
-1
-65
-112
-22,954
-19,703
-720
-249
-66
-337
71
-1
-65
-122
-26
-27
1
-672
-591
-45
-35
-10
-714
-646
-37
-30
-8
-582
-695
-22
-31
9
-870
-870
-127
-108
-19
-2, 055
-1,664
-131
-124
-7
-2, 838
-2, 802
Line
1980
1980 P
IV P
III'
II
1
2
3
675
829
814
346
6
352
28
351
11
362
18
586
2
143
146
1
148
1
149
1
651
319
332
409
-2
881
744
136
383
-111
273
97
176
128
1
191
73
118
69
-112
198
160
39
119
218
414
-196
66
-4,605
' -1, 186
-4,621
-1,287
-1,748
-849
-1,288
-438
-772
-813
-56
-2, 380
-59
-2, 159
-17
-599
-10
-562
-15
-489
-17
-509
-1
-384
-1
-409
(*)
-104
-i»
(*)
-104
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
898
3,216
1
1
1
1,309
101
1,411
64
541
58
4
5
6
7
8
9
10
11
12
13
14
15
(*)
16
(*)
-99
w
-124
-473
-123
-583
-27
-153
-28
-151
-30
-135
-38
-145
-256
-527
-129
-117
-110
-171
-3,794
-4,510
-1,297
-743
-923
-1,547
-343
-756
-146
-217
-208
-184
33
-2,679
-274
-841
-3, 183
-299
-1, 028
-962
-81
-255
-474
-72
-197
-638
-73
-212
-1, 109
-74
-364
-335
-739
-146
-201
-208
-184
-8
-17
34
35
36
-7,081
-7,946
-1,027
-1,062
-2,699
-3, 158
-1,345
-1,390
-65
-1,136
-189
-1,241
-1,683
-809
-1, 186
-597
13
-127
-555
292
45
-16
-1,667
-1, 152
-34
112
-99
-261
-294
1,285
-1,240
37
38
39
40
41
42
32
-17
-2, 979
-4, 461
1,519
-38
-3, 710
-5, 394
1,422
263
-1,248
-1,677
298
131
-800
-1,266
414
53
-1,024
-1,378
327
27
-638
-1,073
383
52
-278
-283
5
-509
-514
5
-170
-173
3
-137
-137
-149
-150
2
-54
-54
43
44
45
46
-4, 102
-3,279
-2, 295
-984
177
-4,237
1,812
2,840
-1,028
11
221
138
401
-263
-58
-262
2,329
2,749
-419
11
-1,675
-31
189
-220
38
-2,520
-625
-499
-126
20
323
55
387
-332
251
952
-63
73
-136
1,000
547
209
385
-176
333
-473
-498
-380
-118
28
577
220
259
-39
346
301
6
-191
196
294
47
48
49
50
51
i*143
1* -306
i* -58
" -123
n.a.
is -877
"-5,838
15_2
i» -2, 296
is-1,624
is -1,916
1518
1516
«7
15 -3
8,432
19,077
3,686
7,053
4,055
4,283
-45
-984
597
-509
(17)
(17)
-1,140
1,270
(17)
(17)
132
113
19
(17)
(17)
149
(17)
145
138
7
j
u -135
}
1*9,426
« 16, 911
22,945
-31,532
-20,503
-21,618
-24,297
n.a.
28
29
(17)
98
672
O7)
(17)
176
166
10
(17)
14
__
(17)
451
61
(17)
229
(l7)
(17)
n.a.
n.a.
-111
-119
8
(17)
73
-_---53
61
-9
(17)
44
(17)
-93
"129
i 3, 531
i 5, 987
i 4, 101
i 48
22,877
7,111
4,511
5,345
5,909
-37,515
-29,498
-30, 825
-34,008
-11,353
-8,473
-8,808
-9, 770
-10,098
-9, 759
-10,028
-10,501
-8,083
-5,778
-6,063
-6, 702
-7,981
-5,488
-5,925
-7,034
1511
151
-721
-351
86
(17)
i7 3, 292
?
{ 52
\ 53
n.a.
_1
.
"425
" -32
7
14
-55
(17)
(17)
-175
166
-721
(17)
-351
(17)
-12
n.a.
n.a.
7
(17)
-509
597
-984
-34
(
{
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
( 70
n.a.
1 71
i 7 -317 { 72
\ 73
i -929
i7 431
i -334
i 7 -709
1,139
2,131
1,152
3,233
1,152
56
1,936
999
242
74
75
-1,186
-1,537
-1,544
-1,879
-1,287
-1,405
-1,422
-2, 161
-849
-851
-851
-997
-438
-612
-629
-830
57
57
-151
1
1
-183
76
77
78
79
7
7
7
U.S. GOVERNMENT PRINTING OFFICE : 1981 0 - 342-823
CURRENT BUSINESS STATISTICS
THE STATISTICS here update series published in the 1977 edition of BUSINESS STATISTICS, biennial statistical supplement to the SURVEY OF CURRENT
BUSINESS. That volume (available from the Superintendent of Documents for $6.25) provides a description of each series, references to sources of earlier figures,
and historical data as follows: For all series, monthly or quarterly, 1973 through 1976 (1966-76 for major quarterly series), annually, 1947-76; for selected
series, monthly or quarterly, 1947-76 (where available).
The sources of the data are given in the 1977 edition of BUSINESS STATISTICS; they appear in the main descriptive note for each series, and are also listed
alphabetically on pages 181-182. 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.
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS
1978
1979
1980
II
Annual total
III
1980
1979
1978
IV
I
II
III
IV
1981
I
II
III
7402
2886
14.79
1406
74 12
2898
1449
1450
4516
3.27
106
127
098
884
707
1.77
2023
9.52
45 13
350
100
093
107
897
689
2.08
2038
928
IV
I
II
GENERAL BUSINESS INDICATORS—Quarterly Series
NEW PLANT AND EQUIPMENT
EXPENDITURES t
Unadjusted quarterly or annual totals:
Total nonfarm business
bil. $..
Manufacturing
.
. . do
Durable goods industries U
do....
Nondurable goods industries
fl
do
Nonmanufacturing . .
do
Mining
do....
Railroad
. .
do
Air transportation
do....
Other transportation
do
Public utilities
do
Electric
do. .
Gas and other
do....
Trade and services
. .
do
Communication and other
do....
Seas. adj. quarterly totals at annual rates:
Total nonfarm business
do. .
Manufacturing
do
Durable goods industries j|
do. .
Nondurable goods industries U
do
Nonmanufacturing
do
Mining
do. .
Railroad
do
Air transportation
do
Other transportation
do....
Public utilities .
do
Electric
do
Gas and other
do....
Trade and services
do
Communication and other
do....
231.24
7972
40.43
3929
15152
10.21
348
3.09
4 10
2995
2463
5.32
6866
32.02
27046
9868
51.07
4761
295.63
11581
58.91
5690
17177
1138
403
401
431
3396
2765
6.31
7926
34.83
17981
13.51
425
4 11
382
3544
2812
7.32
8179
36.99
57.41
1958
9.89
968
3783
2.58
088
082
100
730
602
1.28
1729
7.96
22753
78 19
3947
38 72
14934
10 10
334
279
3.86
2893
2379
5.14
6886
31.46
5847
1993
1024
969
6757
2445
12.46
1200
5726
1965
10.04
961
66.81
2368
12.31
1137
68.39
2493
12.99
1194
77.99
3042
15.73
1469
3855
264
089
072
1 05
43 12
290
098
083
1 22
8 83
728
155
1947
890
3761
259
086
080
0 82
7 19
6 15
105
1763
772
43 13
281
100
1 19
108
858
705
153
1976
870
4347
287
104
091
1 18
4757
3 11
1 12
1 10
123
880
703
1.77
1987
879
938
742
1.96
2201
962
65 18
24 10
12.54
1156
4108
274
099
090
084
801
664
1.37
1908
8.52
24736
86 15
4388
42 27
161 21
1103
3 eg
341
436
32 13
2665
548
7332
3328
25555
90 75
4638
44 37
26524
9471
4925
45 47
164 80
1123
390
349
404
32 40
2685
555
7603
3371
17052
1101
383
403
4 16
273 15
100 11
52 13
4797
17304
1140
4 13
395
460
35 05
2871
635
7886
3505
28430
10657
5503
5155
17773
1186
424
455
441
3408
27 16
6.92
8269
3590
29189
11177
5828
5349
18013
1189
446
390
4.11
3626
2898
7.28
8217
3734
29436
11569
5938
5632
17866
1281
406
427
3.76
85521
54604
81767
54605
7 57
604
1.54
1734
835
23324
79 96
4109
3887
153 28
1048
354
308
405
30 16
2466
549
6873
3324
34 02
2788
6 14
7903
3444
U.S. INTERNATIONAL TRANSACTIONS
Quarterly Data Are Seasonally Adjusted
(Credits +; debits—)
Exports of goods and services (excl. transfers under
military grants)
mil $ 221 036 286 521 340 887 54 156 56432 61 131 65 668 67764 74782 78307
Merchandise, adjusted, excl. military
do.... 142,054 182,068 221,781 35,404 36828 38900 41806 42816 47207 50239
Transfers under U.S. military agency sales
7 470
2 055
contracts
mil $
8240
7 194
2 000
2051
1 927 1 692 1 575
2013
Receipts of income on U.S. assets abroad
do.... 42,972
9,957 10,557 12,851 14,263 15,250 18,050 18,407
76,029
65,970
Other services
do
27 772
31 289
6 740
35 608
8086
7 771
7 833
7 034
7 599
7 329
Imports of goods and services
do.... -230,240 -281,560 -333 810 -56 951 -58 365 -60638 -62938 -67 864 -72 268 78490
Merchandise, adjusted, excl. military
do.... -175,813 -211,454 -249,135 -43,699 -44,336 ^i5,715 -46,922 -50,876 -54,259 -59,397
Direct defense expenditures
do.... -7,354
-8,469 -10,779 -1,752 -1,874 -2,048 -2,029 -2,029 -2,135 -2,275
Payments of income on foreign assets in the
U.S
mil $
22073 -33460 -43 494
5 474
5 717 -6 343
9524
7 980 -8731
7 225
Other services
do.... -25,001 -28 178 -30402 -6026 -6438 -6532 -6762 -6980
7 294
7*143
Unilateral transfers (excl. military grants), net
mil. $.. -5,055
-5,666
-6,959 -1,307 -1,233 -1,313 -1,324 -1,383 -1,407 -1,552
U.S. Government grants (excl. military)
do.... -3,171
-3,524
-4,506
-831
-772
-795
-899
-860
-887
-878
Other
i
do
-1884
-2 142
-476
2452
-461
-484
518
-464
-665
-529
U.S. assets abroad, net
do.... -61,191 -61,774 -84,502 -5749 -9977 30418
7 768 15300 25215 13 492
U.S. official reserve assets, net
do....
732
-1,133
-8,155
248
115
182 -3,585
2,779
'322
-649
U.S. Gov't assets, other than official reserve
assets, net
mil $ . -4644
-3783
-5 111 -1257 -1386
-925
991
991
766
1 102
U.S. private assets, net
do.... -57,279 -56,858 -71,236 -4,740 -8706 -29 609
3081 14631 27228 11 918
Direct Investments abroad
do.... -16,345 -24,319 -20,592 -4,051 -3,010 -4,578 -5819 -7214 -7 156 -4 129
Foreign assets in the U.S., net
do
37575
64096
775 17069 28048
47626
4025
2201
6407 24 941
Foreign official assets, net
do.... 33,293 -14,271
16,179 -5,273
4,777 18,368 -8,744 -10^095
5,789 -1,221
Other foreign assets, net
do .
6049 12292
30804
51845
31446
5246
9680 10 945 16502 19152
Direct investments in the U.S
do....
7,897
9,713
8,204
2,313
1,608
3,217
2,564
2,620
2^812
1,120
Allocation of special drawing rights
do....
1,139
1,152
1 139
Statistical discrepancy
do..
23765
11354
9076
35605
-833 11 202
3 190
3926
3022 10375
Memoranda:
Balance
Balance
Balance
Balance
on
on
on
on
merchandise trade
do.... -33,759
goods and services
do.... -9,204
goods, services, and remittances .... do.... -11,088
current account
do.... -14,259
See footnotes at end of tables.
-29 386
4,961
2,819
-705
-27 354
7,077
4,625
118
-8295
-2,795
-3,271
-4,102
-7508
-1,933
-2,394
-3,166
-6815
493
-25
-320
-5 116
2,730
2,266
1,406
-8060
-100
-584
-1,483
7052
2,514
1,985
1,107
9 158
-183
-848
-1,735
3503
2791
7.12
8107
3766
T
8231
r
3387
1709
1678
T
4844
r
401
120
r
091
r
094
r
962
r
753
r
2.10
r
2209
r
967
rl
69 26
r
26 18
13.31
1287
'4308
r
354
r
086
r
094
r
083
r
8 13
r
662
1.51
1959
r
9.20
*7973
3157
15.89
1568
48 16
397
1 17
099
105
949
741
2.08
2103
10.47
29623 r299 58 rl310 10 *317 29
63 121 17 126 68
11640 118
6384
5819 rr5977 '6167
62 84
5886 '5951
58 21
179 83 180 95 188 93 19061
1536
1386 1528
1557
r
4 46
398
'3 87
454
r
377
406
332
'407
r
'4.06
4 18
405
339
3558 r34 96 '3689
37 65
2926
'2890
2814 '2754
r
744
'7.99
839
741
84 17
81 19 F8291 '8433
4139
3697 '3611 '4034
86015
56 181
87 586
56391
1 497 1 758 2093
2 122
20,824 16,620 18,756 19,830
9243
8784
8985
8596
-86 330 -82882 79995 -84 603
-65,452 -62,108 -59,039 -62,536
-2419 -2752 -2729 -2880
10 762
7 697
10 518
7504
10 700
7 527
11 514
7 673
-1,812
-1247
-565
12706
-3,268
-1,326
-762
-564
25708
502
-1,527
-949
-578
19 135
-1,109
-2296
-1549
747
26951
-4,279
1 467 1 191 -1 374
-7971 -25 019 -16 652
-5458 -2869 -4058
7 194
7949 11 763
-7,215
7,775
7,991
14409
3 771
174
3,082
1,666
2437
1 152
6981 20200
2 879
-1 079
21593
-8207
20 720
7,628
13092
1020
10 848
-309
-1,374
-2,621
-6 145
2,983
2,236
687
7 503
-1,115
-1,679
-2,441
2858
6,020
5,442
4,493
5 544
S-l
S-2
SURVEY OF CURRENT BUSINESS
1979
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS
1981
1980
1980
Annual
March 1981
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
GENERAL BUSINESS INDICATORS—Monthly Series
PERSONAL INCOME BY SOURCE t
Seasonally adjusted, at annual rates: t
Total personal income
bil. $..
Wage and salary disbursements, total
do....
Commodity-producing industries, total.... do....
Manufacturing
do
Distributive industries
do....
Service industries
do....
Govt and govt enterprises
do
Other labor income
do....
Proprietors' income: $
Farm
do....
Nonfarm
do
Rental income of persons with capital
consumption adjustment
bil. $..
Dividends
. . . do.. .
Personal interest income
do....
Transfer payments
do
Less: Personal contrib. for social insur
do....
Total nonfarm income
do
1 943.8
1,236.1
437.9
3334
303.0
259.2
236 1
118.6
2 160.2 20772 2 086.4 2 1010 2 102 1 2 114 1 2127 1 21612 2 1794 2 205.7 r2 234.3 r2,257.6 r2 276.6 r2 298 8 23137
1,343.7 1,306.1 1,315.0 1,322.9 1,317.8 1,320.1 1,323.2 1,326.3 1,342.4 1,356.8 1,381.7 1,400.4 1,411.2 1,431.9 1,438.9
467.7
500.4
460.0
475.8
485.2 '491.1
500.2
465.4
459.3
462.6
463.2
458.8
455.4
453.7
452.5
358.8
377.9
352.5
366.2 rr369.9 rr375.5
3507
3454
3483
3499
3462
3426
3409
3410
3467
341.7
329.4
332.6
338.6
341.4
347.8
328.9
321.2
322.5
324.1
322.6
323.5
323.3
325.5
349.8
r
r
301.7
310.5 313.7 r317.8
295.7
298.9
305.6
321.9
279.6
283.2
287.9
287.7
290.2
294.4
295.3
254.7
261.7
263.3
265.9
264.8
267.0
2536
2460
2476
2487
2510
2518
2530
254 1
2468
145.0
140.4
141.9
143.5
146.6
148.0
137.1
129.1
133.8
135.0
136.3
137.7
139.1
130.8
132.6
r
22.2
1115
r
22.6
1115
T
22.6
1116
r
22.1
1116
30.8
1007
23.4
1072
30.5
48.6
209.6
2494
80.6
18929
31.8
54.4
256.3
2942
87.9
21126
32.5
32.5
32.7
32.0
32.2
32.3
32.4
31.4
31.6
31.3
31.6
31.8
31.4
30.8
54.7
56.7
57.4
524
53.7
54.1
54.7
55.2
55.4
55.5
55.9
58.2
51.6
532
261.7
253.7
258.9
260.4
263.2
265.6 r269.4 Tr 274.1 rr280.3
286.4
235.2
240.0
244.5
248.3
314.7
2846
3090
313.4
3138
313.2
318.2
3180
2727
2704
2759
2814
3097
2719
101.9
87.0
88.3
89.1
91.9
101.8
86.1
85.6
85.8
86.2
90.4 r 91.4
86.4
86.2
20274 20383 2053 1 20547 20670 20803 2 114.5 2 1327 2 158.7 21868 2 209.7 r2 228.5 r2 250.9 2 266.4
1,943.8
302.0
1,641.7
15555
1,510.9
2123
6022
696.3
2,160.2
338.5
1,821.7
17204
1,672.8
2119
6757
785.2
2,077.2 2,086.4
320.3
323.1
1,756.9 1,763.3
16767 16717
1,629.3 1,623.9
2320
2189
6570
6588
740.4
746.2
43.7
46.4
10
86.2
1.2
101.3
5.2
27.6
1095
25.2
1082
24.4
1061
23.8
1027
23.3
1010
22.8
1010
22.4
1051
22.0
1063
21.9
1114
21.4
1120
DISPOSITION OF PERSONAL INCOME *
Seasonally adjusted, at annual rates:
Total personal income
bil. $.,
Less: Personal tax and nontax payments
do....
Equals: Disposable personal income
do....
Less* Personal outlays
do
Personal consumption expenditures
do....
Durable goods
do
Nondurable goods
do .
Services
do....
Interest paid by consumers to
business
do....
Personal transfer payments to
foreigners (net)
do....
Equals: personal saving
do....
Personal saving as percentage of disposable
personal income §
percentDisposable personal income in constant (1972)
dollars
.
bil $
Personal consumption expenditures in
constant (1972) dollars
do
Durable goods
do....
Nondurable goods
do
Services
do....
Implicit price deflator for personal consumption
expenditures
index, 1972—100..
2,101.0 2,102.1 2,114.1
325.9
330.3
326.6
1,775 1 1,775.6 1,783.8
16878 16707 16677
1,639.9 1,623.0 1,620.3
2119
1961
1917
6613
6675
6650
760.5
761.8
767.3
2,127.1 2,161.2 2,179.4 2,205.7 r2,234.3 r2,257.6
341.7
346.5
359.9
334.2
336.3
354.1
1,897.7
1,793.0 1,824.9 1,837.7 1,859.2 1,880.2
16839 17149 17303 1 742.4 rl 778 1 18003
1,637.1 1,667.9 1,683.4 1,695.2 1,729.9 1,752.0
2052
2223
1955
2106
2105
2234
6744
680.9 r 690.5 r 706.8
6657
6674
798.4
809.1
817.1
776.0
789.9
821.9
r
r
2,276.6
2,298.8 2,313.7
r
363.5 r369.2
370.9
1,913.1 1,929.6 1,942.8
1 819 71 843 5 18670
1,771.0
1,795.0 1,818.2
r
2242 rr 2342
2406
r
713.1
723.8
736.5
T
833.7 r837.0
841.2
46.7
46.9
46.7
46.3
45.8
45.9
45.9
46.2
46.5
46.7
47.1
47.4
10
874
10
1049
10
1162
10
109 1
10
1100
10
1074
1.0
116.8
1.6
102.1
1.6
r
974
1.6
r
933
1.1
1.1
80.2
10
916
86.1
75.8
5.6
4.8
4.9
5.3
5.8
6.2
6.2
6.0
6.1
10115
10184
10289
10507
10133 1009 1 10085 10070
10186
10182
9309
146.6
3546
429.6
935 1
135.8
3584
440.9
9542
1537
3644
436.1
9400
1444
3608
4347
936 1
1383
3592
4387
9224
1279
358 1
4364
9160
1246
3553
436 1
9195
126 1
3563
437 1
931 1
1348
3554
4408
9327
1336
3562
4428
9288
129.3
3532
446.3
9418
139.1
3560
r
446.7
'9476
139.0
3624
r
446.2
r
951 1
1392
r
3628
r
449 1
9582
1445
3659
4478
162.3
178.9
170.8
1728
1752
1760
176.9
178.0
179 1
1805
182.5
183.7
184.9
1862
1873
152.5
147.1
148.0
152.7
153.2
148.1
143.5
145.0
137.2
142.9
148.6
150.2
149.5
146.3
46.4
11
r
5.8
5.6
r
5.1
47.7
r
r
4.4
4.8
10186 1 023 61 026 41 027 4 1030 1
r
INDUSTRIAL PRODUCTION H
Federal Reserve Board Index of Quantity Output
Not Seasonally Adjusted
Total index
1967-100..
By market groupings:
Products, total
do....
Final products
do
Consumer goods
do....
Durable consumer goods
do....
Nondurable consumer goods
do....
Equipment . .
. d o
Intermediate products
do....
Materials
do....
By industry groupings:
Mining and utilities
do
Manufacturing
do.. .
Nondurable manufactures
do....
Durable manufactures
do
Seasonally Adjusted
Total index
do
By market groupings:
Products total
do
Final products
do
Consumer goods.. .
.
do
Durable consumer goods
Automotive products
Autos and utility vehicles
Autos
Auto parts and allied goods
Home goods ...
Appliances, air cond., and TV
Carpeting and furniture
Nondurable consumer goods
Clothing
Consumer staples
Consumer foods and tobacco
Nonfood staples
Equipment
.
Business equipment
Industrial equipment $
Building and mining equip
Manufacturing equipment
do....
do....
do....
do
do
do
do....
do....
do....
do....
do....
do....
do
do
do....
do
do....
do
Commercial, transit, farm eq. #
Commercial equipment
Transit equipment
do....
do....
do....
Defense and space equipment
See footnotes at end of tables.
do....
P
150.8
P
1444
P
e
146.9
150.0
1472
150.8
155.8
148.8
1422
160.5
156.4
146.7
1454
145.5
136.5
149.1
145 1
151.9
147.6
144.1
1422
142.0
137.0
144.1
1425
151.2
153.9
149.3
1477
148.0
147.9
148.0
1473
155.5
157.9
149.9
1480
149.0
149.1
148.9
1467
156.8
158.3
145.0
1437
143.6
140.0
145.0
1439
149.7
152.9
142.2
1412
139.9
130.4
143.6
1430
145.9
145.6
1462
1456
1459
132.9
151 1
1452
148.4
143.0
1408
1397
1383
115.4
1475
141 6
144.8
131.7
1463
1447
146.5
121.4
1566
142 1
152.2
137.8
152.5
1512
154.2
139.0
160.3
147 1
157.0
142.7
151.8
1504
152.7
148.4
1543
1472
157.3
147.6
148.7
1473
147.0
144.5
1480
1477
153.8
150.7
144 1
1426
139.4
132.0
1424
147 1
149.7
149.5
1447
153.6
164.0
146 4
1504
146.6
161.1
1366
1525
147.4
158.2
1398
153 1
152.7
163.8
1450
1512
153.5
164.9
1456
1450
148.5
161.3
1397
143 1
143.6
157.1
1342
149 1
144.4
160.1
1335
1519
135.1
151.0
124 1
157 1
141.3
161.2
1276
1523
148.0
167.5
1346
146 1
150.6
167.8
1387
1494
149.5
163.9
1395
1535
"1598
"145.0
"157.4
"1365
e
145.1
156.8
137 1
1525
147 1
1527
1526
152 1
1483
1440
141 5
140 4
141 8
144 1
1469
1494
1509
"1515
e
1499
148 2
1477
"1501
"1483
"1474
e
!49 1
'1476
"1465
141.1
139.1
115.9
105 3
1980
"138.3
"127.2
"99.7
"900
"1969
137.1
129.5
103.4
'960
'I960
1422
126.8
156.3
"144 5
"131.7
"157.0
"141 4
124.5
"151.0
150.2
1500
1472
1508
155.8
167.7
154.3
1367
2015
1492
127.4
173.0
148.8
131.9
153.5
145.0
1634
1422
171.3
1522
206.3
1303
193.4
228.1
151.6
93.4
1467
1453
1455
136.4
132.4
109.5
1030
1904
1387
117.3
155.0
149.1
126.7
155.3
1469
1650
1450
173.2
1569
241.1
1284
191.9
237.3
139.2
97.8
1499
1470
1479
142.3
131.3
108.7
980
1885
1485
128.9
170.9
150.1
1302
155.6
1469
1658
1458
174.9
1572
222.1
1326
195.2
238.2
142.8
97.0
1501
1477
1484
144.5
142.1
124.6
1168
1867
1458
122.3
168.2
150.0
130.7
155.4
1465
1656
1466
176.0
1592
231.6
1331
195.5
238.7
145.4
97.2
1500
1477
1486
144.1
141.0
122.0
114 9
1891
1458
122.1
169.1
150.3
1318
155.5
1473
1650
1466
176.1
1593
235.6
133 1
195.5
240.4
142.5
97.1
1466
145 4
1453
136.3
126.3
102.3
97 1
1872
1420
114.8
165.8
148.8
1287
154.4
1462
1640
1456
174.2
1593
239.5
1319
191.5
235.6
143.0
97.6
1437
143 1
1424
128.8
118.5
92.6
88 4
1840
1346
102.8
154.2
147.7
1279
153.2
1461
1615
1440
171.9
1578
242.2
1295
188.2
232.0
136.3
97.2
1425
142 3
1421
128.2
121.6
97.1
957
1837
1320
105.6
146.7
147.6
1267
153.4
1462
1617
1426
169.8
1552
241.0
126 1
186.7
228.8
138.0
96.8
1428
1424
1420
128.3
129.2
106.4
1052
1869
1277
102.3
136.1
147.4
1225
154.3
1464
1636
1429
170.1
1548
244.4
1260
187.8
229.0
140.9
97.2
1438
1428
1427
128.6
121.5
94.1
91 3
191 1
1326
114.2
141.1
148.3
1236
155.1
1460
1657
1429
170.3
1545
243.6
1244
188.4
233.6
138.4
96.9
1453
1439
1443
132.7
130.6
105.5
980
1942
1340
116.3
146.1
148.9
122.1
156.3
1470
167 1
1432
170.5
1542
243.4
1239
189.4
237.2
133.8
97.4
1472
1458
1466
139.6
141.8
120.2
110 7
1968
1383
123.5
150.2
149.4
125 1
156.1
1477
1659
144 8
172.3
154 4
244.3
1239
192.8
242.0
135.0
98.5
1487
1475
1480
142.9
145.3
124.3
114 3
1986
141 5
128.4
154.9
150.1
1273
156.4
1480
1662
1467
174.5
157 1
250.1
1264
194.7
244.0
136.6
'99.8
150.4
124 1
157.6
149 1
1676
1489
177.5
1601
r
255.7
1296
197.6
r
248.3
137.9
100.7
1435
"1417
"133.2
"145 1
"1460
"147.6
"150.9
"158.3
"1488
"1694
"1494
"178.3
"1634
"267.5
"1301
"195.5
"247.9
"132.2
"101.0
!48.2
1475
1458
140.2
148
1
e
!49.7
151.0
154.7
!595
!49.8
162.9
«1407
e
!508
157.8
"1685
"1491
"177.7
"1643
"273.6
"1298
"193.2
"246.1
"128.0
"101.2
S-3
SURVEY OF CURRENT BUSINESS
March 1981
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS
1979
1980
1981
1980
Annual
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
GENERAL BUSINESS INDICATORS—Continued
INDUSTRIAL PRODUCTION H~Continued
Seasonally Adjusted— Continued
By market groupings—Continued
Intermediate products
1967 — 100
Construction supplies
do
Business supplies
do
Materials
do
Durable goods materials #
do....
Durable consumer parts .
.
do
Equipment parts
do....
Nondurable goods materials #
do
Textile, paper, and chemical
do....
Energy materials
do
By industry groupings:
Mining and utilities
do....
Mining
do....
Metal mining
do
Coal. . .
do..
Oil and gas extraction #
do....
Crude oil
do
Natural gas
do....
Stone and earth minerals
do. .
Utilities
do....
Electric
do
Manufacturing
do
Nondurable manufactures
do....
Foods
.
do
Tobacco products
do
Textile mill products
do....
Apparel products
do.
Paper and products
do
Printing and publishing
do....
Chemicals and products
do. .
Petroleum products
do....
Rubber and plastics products
do. ..
Leather and products
do....
Durable manufactures
do
Ordnance pvt. and govt
do....
Lumber and products
do
Furniture and fixtures
do
Clay glass, and stone products
do ..
Primary metals
do
Iron and steel
do
Nonferrous metals
do
Fabricated metal products
do....
Nonelectrical machinery
do
Electrical machinery
do
Transportation equipment
do....
Motor vehicles and parts
do....
Instruments
do ..
BUSINESS SALES
Mfg. and trade sales (unadj.), total t
mil. $..
Mfg. and trade sales (seas, adj.), total $
do....
Manufacturing total "f
do
Durable goods industries
do
Nondurable goods industries
do
Retail trade total §
.
do
Durable goods stores
do.. .
Nondurable goods stores . . . .
do
Merchant wholesalers total
do
Durable goods establishments
do
Nondurable goods establishments
do
Mfg. and trade sales in constant (1972) dollars
(seas, adj ), total *
bil $
Manufacturing *
do
Retail trade *
do....
Merchant wholesalers *
do
BUSINESS INVENTORIES
Mfg. and trade inventories, boot value, end of year
or month (unadj ) total $
mil $
Mfg. and trade inventories, book value, end of year
or month (seas, adj.), total iji
mil. $..
Manufacturing total 1"
do
Durable goods industries
do....
Nondurable goods industries
do
Retail trade total §
do
Durable goods stores
do
Merchant wholesalers total
Durable goods establishments
do
do....
Mfg. and trade inventories in constant(1972)doDars,
end of year or month(seas.adj.),total*
bil. $..
Manufacturing *
. . . . . . do
Retail trade *
do....
Merchant wholesalers *
do....
See footnotes at end of tables.
P
1605
1580
163 1
1564
157.8
137 1
189.9
1759
1837
1289
1520
1409
1630
1476
143 1
1089
187 1
1707
1769
1299
1608
156 4
165 1
1570
1560
1208
1998
1810
1893
1300
1592
153 8
164 5
1565
1548
1199
1989
1799
188 1
1315
1583
152 3
164 3
1553
1542
120 3
1992
1770
1852
1309
1508
139 4
1620
151 0
1482
1106
1958
1732
1807
130 1
146 2
1330
1594
144 3
1398
100 1
1908
1652
1715
1296
1435
128 5
158 4
1400
1338
960
182.5
1596
1634
1304
1445
1286
1604
1365
1290
939
1776
1562
1585
1304
1476
133 1
1619
1386
131.3
98 1
176.3
1598
163.2
1300
1506
137 4
1636
1424
1342
1042
176.0
1697
1751
1284
1524
1405
1643
1464
140.4
1108
178.5
1737
180.5
1272
1535
1428
1642
1505
146.6
1155
184.0
174 1
181.0
1309
156.1
1447
1675
1524
148.4
1163
185.8
1787
186.4
1296
156.9
"1469
P
166.8
"1538
P
150.2
P
1169
P
189.2
P
1793
"186.4
P
131 1
144.7
1255
1270
1356
121.7
946
109.2
1376
1660
1858
1536
1640
1475
1178
145.0
1344
1510
136.9
2118
143.9
2722
71.7
146 4
752
1369
1615
1639
1213
1132
1358
148.5
1637
1750
135.4
159.9
1749
150.5
1330
1099
1466
133.7
946
1482
1335
1376
141 0
1299
964
1139
144 6
149.0
1329
1366
1360
1304
958
1124
1423
167 1
1857
1530
1659
1490
1200
1440
1338
1536
139.9
2174
144.6
2668
733
144 1
772
1302
1592
1624
111 9
1034
1274
145.7
167 0
1792
125.7
133.9
1748
151.4
1330
1327
1372
1318
96 1
1170
1360
1720
1924
152 1
1647
1493
1222
1420
136 1
152 7
139.2
2136
1407
2644
728
1434
769
125 3
1595
1564
113 7
1059
1280
145.5
1665
1792
123.8
130.1
1735
150.1
133 1
1235
1434
132.5
973
1122
1331
1691
1879
1479
1616
1478
1219
1399
1313
1482
136.5
209 1
137.4
2618
69.9
1384
775
1052
157 1
1488
106 4
974
1220
141.4
1632
1770
115.1
114.7
1738
1496
1334
1208
1450
1339
96 1
1116
1281
1677
1860
1434
1580
1495
1162
137 1
1286
145 7
135.5
1992
1330
2481
70 1
133 3
779
1045
1495
1408
96 1
844
116 4
133.2
1621
1714
109.8
105.9
1710
150.1
1329
1200
1500
133.2
955
107.1
1239
1693
188 7
1403
1553
1490
1139
133.6
1272
1462
135.4
191 1
131.3
2429
685
1299
775
1097
143 1
1345
90 4
754
118 1
126.1
1583
1666
110.0
106.7
1692
150.1
1306
83 1
1498
134.3
953
1060
1237
1718
192 4
1391
1547
1489
1196
1325
1215
1436
138.6
1903
130.5
2425
67.8
1283
771
112 8
1386
1342
817
681
1073
123.8
1585
165.0
110.7
107.9
167.5
150.5
1296
712
1549
133.6
933
105.1
1235
1738
1954
1406
1569
1483
1174
132.6
1238
147 1
140.3
1978
126.7
2459
677
1294
772
1217
141 1
1357
860
753
1045
125.8
1588
1667
108.3
104.4
1676
150.5
1305
73 1
1489
134.7
929
109.5
1282
1727
1939
1434
1603
1486
119 1
133.0
1267
1523
140.3
2068
130.5
2531
67.2
1317
77 1
1226
144 8
1414
90 1
798
107 1
129.0
159 1
1675
112.9
113.4
167.4
150.2
1321
908
1457
135.4
925
110.4
1290
1704
1903
1464
161.8
1494
1231
133.8
1275
1530
141.5
2091
130.1
2592
70.2
1358
791
1222
1472
1452
1006
933
1131
132.8
161 1
1700
118.8
124.2
169.6
152.8
1360
1072
1516
137.4
r
922
111.9
1330
1715
1915
149 1
1633
1505
1251
135.0
1280
154 4
142.7
r
2120
131.2
2596
71.2
1393
r
796
1249
1472
147.8
113 4
1074
1232
134.1
1634
173.0
121.7
129.0
169.9
153.4
1382
1221
1553
137.4
r
924
P
155.4
P
1405
P
1226
P
1503
P
140.7
P
3,461,382
1
3,461,382
l
l 692001
887 777
804 224
'886 047
308 156
577 891
*883 334
404 288
479 046
1319
170 1
189 8
1466
161 1
1492
1197
1367
1284
1509
139.5
2069
135.0
2557
70.1
1366
778
119 4
149 8
1470
101 6
918
1190
135.0
162 7
1727
116.6
118.6
1710
3,731,456
'3,731,456
'1 798539
902 723
895 816
*944 619
300 448
659 419
'988 372
428 025
560 347
1648
183 4
1534
1660
1485
1187
1434
1315
157 4
138.9
2180
1475
2655
742
1447
77 1
131 6
160 8
1650
116 4
1072
133 4
145.0
167 1
1817
122.1
126.2
1759
1378
170.5
1903
1506
165.1
151 4
1188
133.2
1250
1565
144.9
r
2188
136.8
r
2592
r
67.8
1405
r
795
1220
1490
1515
112 1
1036
1272
137.4
167 1
1749
120.6
126.3
172.1
930
1613
767
469
377
1572
745
45.5
372
151 8
71 1
442
364
1497
697
439
36 1
150 1
69 5
44.4
362
1526
709
452
366
152 1
70 2
45.4
365
1560
733
45.4
373
1579
742
r
45.4
38.3
1580
739
r
45.9
382
1584
'74 1
'45.7
'38.6
142 7
1720
1562
142.5
e
P
"1502
"1651
151 0
"1652
P
151 1
!704
P
133.8
"1554
P
145.6
"219.0
P
137.4
P
2599
P
67.8
P
141
1
P
796
P
1223
P
1485
P
154.0
P
1129
P
106.4
"124 9
"138.2
"1688
"177.7
P
117.4
P
119.0
"173.6
1593
738
47.0
38.5
453 239 r429 663 436 289 443 435 448 552 448 959 446 629 446 492 447 153 450 356 458 727 463 170 '453 239 459 626
426,796
228 258
151,689
76 569
108 862
53087
55 775
89676
57,219
32457
456 770
244 493
161,907
82586
112 114
5l'967
60 147
100 163
63^924
36 239
431 420
232 294
154,043
78 251
108 436
52130
56306
r
90 690
r
57,751
32939
435 321
235 096
155,314
79782
108 717
52232
56 185
91 508
58,293
33 215
439 325
238 522
157,127
81 395
109 095
52276
56 819
91 708
58,937
32771
445 528
242 540
159,877
82663
110252
52490
57 762
92 736
60,080
32656
445 801
243 402
160,607
82 795
109 837
51792
58045
93 147
60,828
32 319
447 031
243 630
160,404
83 226
109 768
51645
58 123
93633
60,483
33 150
449 510
244 105
160,875
83230
110 786
51531
59 255
94 619
60,349
34 270
451 951
243 517
161,081
82436
111 323
52383
58940
97 111
61,880
35 231
454 566
243 615
160,691
82924
112 840
52238
60602
98 111
61,738
36373
456 532
242 876
160,137
82739
114 381
52687
61694
99275
62,005
37270
457,986
244 090
160,977
83 113
113 940
52804
61 136
99956
63,015
36941
'456 770
'244 493
161,907
'82 586
112 114
'51,967
'60 147
100 163
'63,924
'36 239
461,805
249 021
164,983
84038
112 727
52498
60229
100 057
63,790
36267
264.8
1463
65.7
52.8
264.1
1464
65.2
52.6
264.6
1473
64.9
52.5
266.0
148 1
65.2
52.8
265.2
1477
64.9
52.7
264.7
1472
64.7
52.9
264.8
1472
64.8
52.8
264.4
1464
64.7
53.3
264.2
1459
65.1
53.3
r
264.3
r
r
264.1
145.1
65.4
r
53.6
'263.0
145.0
'64.6
'53.4
263.1
145.6
64.3
53.2
!45.2
65.7
53.5
155.2
!415
e
P
423 878
r
e
!533
148.8
"114.9
188.4
e
!79 1
e
!86.5
e
!322
P
r
285,918 298,985 312,588 300,289 300,850 303,481 294,795 306,603 321,031 338,522 324,830 '343,565 311,766
'312,458 310,571 305,657 295,277 292,478 294,203 304,154 308,019 318,321 325,838 328,983 '332,484 338,739
152 088 152 899 150 081 143 596 141 515 141 573 145 678 146 643 152 764 156 697 157 722 '159 323 161 110
77948 79*159 75925 72207 69443 69056 72544 72057 76571 79497 79741 r'80 027 80369
74 140 73 730 74 156 71389 72072 72517 73 134 74586 76193 77200 77981 79 296 80741
79464 77993 76534 75011 74587 76001 78287 78770 80087 80609 82 125 '82 646 85078
27268 26369 24296 22,821 22537 23212 25076 24,821 25,868 25,591 26,524 '26,262 27,866
52196 51624 52238 52 190 52050 52789 53211 53949 54219 55018 55601 '56 384 57,212
r
80 906 79689 79042 76670 76376 76629 80189 82606 85470 88532 89,136 '90,515 92,551
'36 576 36 838 35 903 33305 32561 33441 34083 34597 35880 37387 38271 '38 197 39470
44 330 42851 43 139 43 365 43 gis 43 188 46 106 48009 49590 51 145 50 865 '52 318 53081
1637
77 1
480
386
«154.7
e
!43 1
154 1
146.2
136.5
1399
e
798
111 7
137.9
e
!68 1
e
!754
116.4
117.9
'171.6
S-4
SURVEY OF CURRENT BUSINESS
1980
1979
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS
1980
Jan.
Annual
March 1981
Feb.
Mar.
Apr.
May
June
1981
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
GENERAL BUSINESS INDICATORS—Continued
BUSINESS INVENTORY-SALES RATIOS
Manufacturing and trade total $
Manufacturing total "j*
....
Durable goods industries
Materials and supplies
.
Work in process
Finished goods
.
Nondurable goods industries
Materials and supplies
Work in process
Finished goods
Retail trade, total §
Durable goods stores
Nondurable goods stores
.
..
ratio
... do . .
do....
. . do
do ...
do
do....
do ...
do
do . .
Nondurable goods industries, total
Food and kindred products
Tobacco products . .
. . .
Textile mill products
Book value (seasonally adjusted), total t
By industry group:
Durable goods industries, total #
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
See footnotes at end of table!
1.91
2.12
066
0.95
051
1.08
1.10
0.43
0 17
042
017
049
145
do . .
do....
.. do .
050
1.41
2.09
1.10
2.08
1 11
1.17
1.16
1.71
0.74
164
0.77
138
153
198
064
087
047
1.06
98 114
82988
140
154
196
064
086
046
1.08
042
043
0 16
0 17
048
136
1.91
049
139
1.98
144
159
207
066
091
049
1.10
043
017
050
143
2 15
151
169
152
172
2.21
2.31
0.98
1.03
071
053
1.15
073
055
1.15
045
018
052
147
045
018
052
147
2.30
1 11
1.21
2.30
1 12
1.15
109
116
164
0.74
0.76
180
122
186
0.78
0.75
0.74
1.62
164
191
139
139
168
198
143
141
175
208
147
145
2 12
108
1.12
158
190
137
137
do.... 1,692,001 1,798,539
do.... 887,777 902,723
do....
48,185
49,509
do.... 140,122 137,984
64447
. do
68663
do.... 109,463 111,466
do.... 157,695 169,318
do.... 110 713 123 390
do
194 461 179 187
do.... 129,364 106,030
do....
42,026
36,253
do.... 804,224 895,816
do.... 234,828 252,071
do
12173
13781
48780
do
46992
70,991
do....
66,033
do.... 149,181 162,390
do.... 134,041 175,533
43,995
do....
44,742
Paper and allied products
Chemical and allied products
Petroleum and coal products
Rubber and plastics products
Shipments (seas, adj ) total t
do
By industry group:
Durable goods industries total $ . .
do
Stone, clay, and glass products
do....
Primary metals..
.
... do .
Blast furnaces, steel mills
do....
Fabricated metal products
do
Machinery except electrical
do....
Electrical machinery
do
Transportation equipment
. do ..
Motor vehicles and parts
do....
Instruments and related products
do ..
Nondurable goods industries total #
do
Food and kindred products
do....
Tobacco products ....
do .
Textile mill products
do
Paper and allied products
do....
Chemicals and allied products
do. ..
Petroleum and coal products
do
Rubber and plastics products
do
By market category: t
Home goods and apparel
do
Consumer staples
do
Equipment and defense prod., exc. auto .... do....
Automotive equipment
do
Construction materials and supplies
do....
Other materials and supplies
do....
Supplementary series:
Household durables
do....
Capital goods industries
do....
Nondefense
do....
Defense
. .
do
Inventories, end of year or month: t
Book value (unadjusted), total
Durable goods industries, total
Nondurable goods industries, total
144
161
061
082
047
Merchant wholesalers, total
do....
Durable goods establishments
do
Nondurable goods establishments
do....
Manufacturing and trade in constant (1972) dollars,
total *
do....
Manufacturing *
do
Retail trade *
...
.
do....
Merchant wholesalers *
do
MANUFACTURERS' SALES, INVENTORIES,
AND ORDERS
Manufacturers' export sales:
Durable goods industries:
Unadjusted total
mil $
Seasonally adj total .
do ..
Shipments (not seas, adj.), total t
Durable goods industries, total
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
141
152
109
158
177
148
146
75925
3898
12199
5757
9402
14046
10352
14962
8831
3643
74 156
20364
1041
4 172
5863
13079
14849
3645
72207
3,944
11333
5,385
9 134
13,374
9878
14,276
8,232
3,262
71389
19,104
1203
4 178
5,834
13031
14213
3519
69443
3,808
10268
4675
8 441
13538
10048
13,299
7,259
3,334
72072
20,116
1 129
3992
5,649
12701
14751
125723 133 379
1298
916 '324 748
1
236,754 1263,897
1151 020 1 127 266
1
148,806 1 147,692
1
730,782 '801,557
11538
25886
21,089
11 342
13,453
68,780
11642
25966
21,907
11853
13,098
67,742
11 156
26092
2l',904
10541
12,007
68381
10671
25070
21,107
9784
11,643
65,321
'55,938 '58,835
267,807 1296,266
'232,315 '254 381
Ml 845
'35 492
5,145
23,951
20875
3076
5,174
24,652
21399
3253
4891
24,741
21352
3389
4,724
23,911
20,625
3286
do....
do....
do....
227,658
150,321
77,337
do....
228,258
do....
do....
do
do....
151,689
5,643
19803
10,834
do....
do....
do....
do....
do....
do....
19,402
36,624
20,598
29,916
8,012
7,765
1 47
166
224
068
1.01
054
1.11
0.42
0 17
0.51
1.41
2.11
1.09
1.18
179
0.74
176
2 12
146
1 46
174
208
144
145
1.74
208
143
1 46
1 43
1 40
1 39
1 37
1 36
1 59
2 10
1 55
1 55
1
53
r
202
1 55
064
096
050
1.09
042
0 17
050
141
2.02
1 12
202
061
092
0 49
1.07
041
0 16
049
142
2.06
1 12
202
061
092
048
1.07
1.15
1.12
1 12
0.73
0.73
169
199
167
145
1 96
167
196
143
1 40
1 41
1 43
143
166
1.04
1.04
0 41
0 17
1 36
1 10
165
1 32
1 88
1 05
1 11
1 67
0.69
068
1
1
1
1
1 65
1 97
1 37
1 38
66
96
41
38
'9910
r
9493
1 08
1 62
7 739
8820
152,455 148,210
r
76,053
72,335
r
3,968
3803
11,305 11664
'5819
5 894
r
9,573
8*951
14,922 14027
10 375
9734
15
Oil 14 051
r
8,487
8,785
r
3,714
3308
r
76,402 75,875
r
22 204 21086
1281
1 135
r
3 824
3*787
'5720
5837
14,301 13881
15,748
17,234
r
3,239
3315
159 323 161 110
r
80
027
r
4,567
12
586
r
6,635
80369
4590
12534
6 172
10 233
14 729
10 384
15,837
r
9,607
'3735
9938
15 418
10*627
15,492
9291
3674
*79 296
22,378
1264
r
3995
r
6,201
15 589
15
361
r
3574
80 741
22412
1 185
4 169
6205
14999
17329
3646
11406 11 251
27911 rr29 038
22*894 22,771
11 511
28683
23213
11 195
13761
72747
76571
4288
11322
5227
79497
4285
11797
5776
8 406
13822
9893
12,958
7,231
3,348
72517
20,589
1012
3954
5,756
12,502
14760
3406
72057
3,930
10604
4,642
8801
13560
10283
14*304
8,641
3,536
74586
22,110
1,192
3938
5,794
13,099
14314
3753
9432
14*594
10392
15*339
8,746
3552
76 193
22178
1 145
3959
6,152
13731
14365
3724
9 901
14749
10 747
16,433
9,936
3620
77200
21,825
1231
4027
6,055
14 161
15038
3796
10566
26 151
21,681
8758
10*793
63566
10724
26708
21,510
8767
11*110
62754
10949
27 123
21,867
10332
11,819
63,339
10655
28159
21,267
10472
11,710
64,380
11 186
28573
23,166
10635
12,463
66741
11649
27 962
22,765
11 839
13,266
69216
11 599 11 478
13,370 13,613
70542 r71 172
4616
24,202
20762
3440
4588
24,063
20628
3435
4824
24,496
21043
3453
4,699
23,693
20369
3324
4978
25,680
21882
3798
5212
25,618
21842
3776
4998
25,716
21858
3 858
3311
047
198
107
72544
4,063
10258
4,352
8659
13945
10067
14,932
8,856
3,375
73 134
20,898
1,205
4027
5,845
12,869
13960
3611
69056
3,798
9791
4,293
0 63
094
047
0 16
r
047
049
139
199
205
T
041
0 16
0.73
172
062
093
048
041
8047
7 480
7550
8152
7 555
9216
9476
8 278
7 276
9025
7677
7315
8521
9311
7395
7842
7543
7983
9270
8941
139,629 153,732 157,049 146,692 143,186 149,249 134,602 144,426 158,671 162,189 156,659
70,187 79,116 80,897 74,464 71,296 74,880 65,260 69,249 79,921 82,721 78,679
3,756
3,999
3,946
4,208
3,954
4,249
4,590
4,640
4,331
3,858
4,010
9415 10253 11420 11777 11515
12,208 12,944 13355 12,133 10985 10674
5605
5002
4740
4 117
5733
5922
5681
4531
5217
6477
5603
8,568
9,693
8,082
9,742
9,570
9,334
8,719
9,095
8,984
9,796 10,310
12,736 14,659 15,286 13,768 13,714 14,999 12,680 12,829 14,903 14,825 13,997
8971 10062 10955 11229 10952
9204 10617 10778
9838 10500
9909
13853 16274 16 368 14959 13922 14309 12453 11759 16079 17662 16538
8,832 10,224
9,938
7,772
6,842
6,446
9,371 11,191 10,144
8,724
8,059
3,091
3,030
3,719
3,217
3,318
3807
3,771
3,759
3,485
3,574
3,541
69,442 74,616 76,152 72,228 71,890 74,369 69,342 75,177 78,750 79,468 77,980
18903 20,391 20942 19035 20013 20864 19843 21897 22790 22672 22427
1 187
1002
1216
1290
1206
1 175
1 145
1065
1 137
1061
1019
3397
3814
4 193
4067
3944
4 138
4258
4 441
4 190
4 211
4 303
5705
6032
5742
5521
5973
5926
5,969
5,921
6081
6241
6 160
12,918 13,837 14,766 13,991 13,150 13,263 11,823 12,758 14,247 13,977 13,359
13,827 14,568 14,578 14,116 14,485 14,829 14,104 14,396 14,440 14,877 15,565
3,677
3,879
3,404
3,281
3,930
3,695
3,603
3,775
3826
3,694
3,992
152 088 152 888 150 081 143596 141 515 141 573 145 678 146 643 152 764 156 697 157 722
79159
4215
12849
5864
9772
14313
10471
15860
9,876
3613
73729
20,175
1 144
4323
5,857
13508
14349
3854
1
148
168
2.22
069
0.94
053
1.14
0.44
0 17
0.52
1.42
2.05
1 11
1.18
177
0.74
6 149
6996
77948
4537
13148
5869
9526
13923
10035
15241
9,332
3367
74 140
20,117
1046
4195
6,067
13927
13965
4042
1
152
172
2.32
073
1.04
056
1.15
0.45
018
053
144
2.22
1 10
1.22
181
0.77
79741
4383
12284
6286
9944
14650
10813
16,117
9,679
3629
77981
22,115
1 171
4060
6,005
14121
15590
3810
r
r
5009
r
25,498
r
21
772
r
3 726
5204
25842
22325
3517
r
243,730 233,547 236,758 239,837 243,705 244,901 243,494 242,990 242,763 241,441 241,622 242,730 243,730 250,202
160,308 154,097 156,470 158,721 161,306 162,275 161,087 160,646 160,807 159,177 158,497 159,260 160,308 164,884
83,422 79,450 80,288 81,116 82,399 82,626 82,407 82,344 81,956 82,264 83,125 83,470 r83,422 85318
244,493 232,294 235,096 238,522 242,540 243,402 243,630 244,105 243,517 243,615 242,876 244,090 r244,493 249,021
161,907 154,043 155,314 157,127 159,877 160,607 160,404 160,875 161,081 160,691 160,137 160,977 161,907
164,983
6,067
5,987
5,666
6,073
6,089
5,920
5,758
6,141
6,079
5,993
5,994 r6,067
5,976
6137
20285 20093 20382 20387 20789 21979 20884 20841 20588 20 187 20055 20 148 r20 285 20851
10,884 11,039 11,336 11,151 11,472 11,726 11,751 11,539 11,423 11,045 10,850 10,854 10,884 11*246
19,235 19,443 19,490 19,659 19,747 19,816 19,451 19,134 18,980 18,863 18,592 18,917 19,235 19,478
38,352 37,272 37,502 37,609 38,624 39,079 38,940 39,339 39,255 39107 38582 38,691 rr38 352 38548
22,135 21,036 21,413 21,620 21,999 21,924 21,861 22,079 22,012 22,095 22,140 22,107 r22,135 22594
35,229 30,371 30,630 31,447 32,121 32,202 32,688 32,951 33,505 33950 34290 34541 35
229 36678
7,287
7,827
7,869
8,019
7,775
7,238
7,801
7,485
7,264
7,401
7,167 rr7,287
7,070
7518
8,043
8,237
8,438
8,128
8,296
8,351
8,425
8,404
8,290
8,448
8,393
8,353
8,438
8,463
Feb.
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS
S-5
SURVEY OF CURRENT BUSINESS
March 1981
1979
1980
Annual
1981
1980
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
49
507
r
8046
10,846
'6,051
'8415
'74 060
'6949
'17 409
'11 363
'22 748
'38 340
'5 290
'10 097
'4721
'4066
'82,586
'21 362
'3 524
'6,187
'7,478
'18,516
'8396
'4474
50998
8510
10,827
6,307
8643
75943
7302
17759
11 439
24057
38042
5039
9962
4848
3978
84,038
20953
3632
6,252
7,772
19,210
8654
4594
GENERAL BUSINESS INDICATORS—Continued
MANUFACTURERS' SALES, INVENTORIES,
AND ORDERS t—Continued
Inventories, end of year or month t —Continued
Book value (seasonally adjusted) t—Continued
By industry group—Continued
Durable goods industries—Continued
By stage of fabrication: t
Materials and supplies
mil. $.
Primary metals
do
Machinery, except electrical
do...
Electrical machinery
do...
Transportation equipment
do...
Work in process $
do
Primary metals
do
Machinery, except electrical
do...
Electrical machinery
do
Transportation equipment
do...
Finished goods #
. ...
do
Primary metals
do. .
Machinery, except electrical
do...
Electrical machinery
do...
Transportation equipment
do...
Nondurable goods industries, total #
do...
Food and kindred products
do...
Tobacco products
do
Textile mill products
do...
Paper and allied products
do...
Chemicals and allied products
do...
Petroleum and coal products
do...
Rubber and plastics products
do...
By stage of fabrication:
Materials and supplies
do...
Work in process
do
Finished goods
do
By market category: t
Home goods and apparel
mil. $..
Consumer staples
do
Equip, and defense prod., exc. auto
do....
Automotive equipment
do....
Construction materials and supplies
do....
Other materials and supplies
do....
Supplementary series:
Household durables
do
Capital goods industries
do....
Nondefense
do
Defense
do
New orders, net (not seas, adj.), total t
do....
Durable goods industries, total
do....
Nondurable goods industries, total
do....
New orders, net (seas, adj.), total t
do....
By industry group:
Durable goods industries, total
do....
Primary metals
do
Blast furnaces, steel mills
do....
Nonferrous and other primary met
do....
Fabricated metal products
do
Machinery, except electrical
do....
Electrical machinery
do
Transportation equipment
do....
Aircraft, missiles, and parts
do....
Nondurable goods industries, total
do....
Industries with unfilled orders £
do
Industries without unfilled orders ]j
do....
By market category: t
Home goods and apparel
do
Consumer staples
do. ..
Equip, and defense prod., excl. auto
do....
Automotive equipment
do
Construction materials and supplies
do....
Other materials and supplies
do
Supplementary series:
Household durables
do. ..
Capital goods industries
do
Nondefense
.
do
Defense
do
Unfilled orders, end of year or month (unadjusted),
total t • •• •
mil $
Durable goods industries, total
do....
Nondur. goods ind. with unfilled orders $
do....
Unfilled orders, end of year or month (seasonally
adjusted) total t
mil. $..
By industry group:
Durable goods industries, total #
do....
Primary metals
do
Blast furnaces steel mills
do....
Nonferrous and other primary met
do
Fabricated metal products
do
Machinery except electrical
do
Electrical machinery
do....
Transportation equipment
. do .
Aircraft, missiles, and parts
do....
Nondur. goods ind. with unfilled orders $ .. do....
By market category: t
Home goods, apparel consumer staples
do
Equip, and defense prod., incl. auto
do....
Construction materials and supplies
do
Other materials and supplies
do....
Supplementary series:
Household durables
do....
Capital goods industries
do
Nondefense
do....
do....
r
48857
7411
10,732
5,936
8,351
66837
7013
16,952
10064
17,832
35994
5379
8,940
4,598
3,733
76,569
20,397
3503
5,844
6,795
16,982
6,581
4,777
49507
8046
10,846
6,051
8415
74060
6949
17409
11363
22,748
38340
5290
10,097
4,721
4,066
82,586
21,362
3524
6,187
7,478
18,516
8396
4,474
49627
7802
10,785
6,034
8082
67 951
6825
17245
10173
18,688
36465
5466
9,242
4,829
3,601
78,251
20,250
3541
5,919
6,906
17,875
6933
4,880
50248
7971
10,994
6,134
8161
68397
6869
17264
10385
18772
36669
5542
9244
4,894
3697
79,782
20,505
3506
5,962
7,156
18,429
7297
4,840
50347
7919
10,963
6,222
8501
69585
6936
17451
10518
19155
37 195
5532
9195
4,880
3791
81,395
20431
3506
6,096
7,296
18,677
8062
4954
51 086
8049
11,214
6,289
8 709
70594
7 141
17736
10631
19*477
38 197
5*599
9674
5,079
3935
82,663
20,292
3475
6,143
7,416
19,274
8388
5,098
50665
8213
10,035
6,215
8 642
71 411
7315
17*931
10*662
19*644
38531
5*451
10113
5,047
3916
82,795
20,102
3 505
6,149
7,479
19,451
8384
4986
50177
8 194
11,114
6,171
8321
71 891
7398
17716
10729
20*469
38 336
5*292
10110
4,961
3898
83,226
20272
3 529
6,085
7,598
19,330
8763
4817
50032
8300
11,123
6,193
8404
71 126
7232
17867
10915
20524
38 717
5309
10349
4971
4023
83,230
20830
3618
5,940
7,442
18,964
8885
4769
49 136
8 124
11,108
6,163
7817
73 113
7 184
17916
10995
21489
38832
5280
10231
4,854
4199
82,436
21,867
3 575
5,850
7,550
18,517
8811
4520
49007
8090
10,998
6,166
7770
73209
6919
17706
11 090
22149
38475
5 178
10403
4839
4031
82,924
21337
3 722
5,876
7,475
18,489
8894
4470
48722
8018
10,943
6,142
7725
73037
6796
17407
11 208
22448
38 378
5241
10232
4790
4 117
82,739
21527
3 723
5,975
7,443
18,358
8495
4488
48841
7906
10,990
6,081
7929
73 733
6989
17481
11 244
22663
38403
5253
10220
4,782
3949
83,113
21,756
3 771
6,068
7,473
18,610
8333
4393
30,257
11774
34538
32,369
12973
37244
30,873
12 065
35313
31,418
12269
36 095
31,967
12687
36 741
32,322
12774
37 567
32,406
12708
37 681
32,338
12611
38277
32314
12634
38282
31,461
12620
38*355
31,918
12725
38*281
32139
12 551
38049
32,142 '32 369
12560 r i g 970
38 411 '37 244
32766
13478
37 794
17,584
29749
61,621
10,347
19,646
89,311
18,118
31 199
69,967
9,223
20,035
95,951
17801
29738
63,049
10,248
19,514
91,944
17838
30090
63,716
10,114
19,572
93,766
18168
30420
64,718
10,183
20,166
94,867
18 419
30418
66,205
10,428
20,165
96,905
18413
30351
67,180
10,019
20,095
97,344
18286
30418
67,819
9,647
19,954
97,506
18008
31 018
68,824
9,347
19,827
97,081
17985
30 978
69*295
9,262
19,707
96,290
17845
31 071
69*213
9,347
19,649
96,490
17882
31 317
69,615
9,981
19.491
95,590
17880
31 773
69,813
9,073
19,704
95,847
18351
31*273
71*,101
9,455
20,083
98,758
9 495
9 155
9234
9180
9248
9 160
9 397
9 311
9058
9267
9 132
9014
9002
68,640
78,209 70,252 71,106 72,177 73,741 74*668 75*370 76*569 76,956 77401 77805 78117
59 178
66 171 60660 61488 62 102 63 464 64 217 64 782 65661 65 779 66091 66 158 66284
9462
12*038
9592
9619 10075 10*277 10*451 10588 10*908 11 177 11 310 11 647 11 833
1,732,015 1,809,772 145,943 156,942 159,145 146,490 138,924 145,566 136,338 144,119 159,886 165,762 155,859
926,580 914,731 76,232 82,230 82,642 74,452 67,663 71,700 67,191 68,832 81,060 86,228 78,070
805,435 895,041 69,711 74,712 76,503 72,038 71,261 73,866 69,147 75,287 78,826 79,534 77,789
1
1,732,015 '1,809,772 155,588 154,602 152,065 143,313 138,920 138,582 147,104 147,180 155,262 158,054 158,775
r
'18 118
'31 199
'69,967
'9,223
'20,035
'95,951
'9 155
9222
'78 209 80063
'66 171 67625
'12 038 12438
'154 798 151,724
'78,431 75,825
'76,367 75,899
'162,157 161,626
'926,580
'142882
1
69,121
'59,802
'111
622
1
163,304
'115785
'216,523
'65,796
'805,435
'171502
'633,933
'914,731
'138680
'65,461
'61,144
'110 702
'167,648
'127506
'189,192
'62,897
'895 041
'183602
'711,439
81,467
13533
5,776
6,432
9092
15,249
10626
16,448
5,643
74 121
15640
58,481
81,021
13086
5,893
5,956
10224
14,247
11 440
16,005
4,387
73581
15071
58,510
77,546
11 141
5,*162
4,830
9738
14,000
11 109
16',345
5,558
74519
15594
58,925
72,416
9680
4,124
4,649
8862
11,651
10 737
17,510
8,576
70897
14 702
56,195
67,328
8373
3,356
4368
8333
12,701
10022
14,320
6,188
71592
14456
57,136
66,454
8947
3,881
4,250
8076
13,085
9941
12,672
4,810
72128
14582
57,546
74,228
10811
4,721
5290
8621
14,177
9677
16,362
5,682
72876
15099
57,777
72,229
11 412
5,644
4,854
8522
12,931
10790
14,175
3,794
74951
15370
59,581
78,960
12554
6,255
5292
8903
14^817
9977
17^487
5,272
76302
15879
60,423
80,693
13745
7483
5478
10 121
14,806
11 098
15,007
3,286
77361
15807
61,554
81,047
13 029
7,071
4872
9884
14,822
11459
15,957
4,624
77728
15469
62,259
'82,654
'12 899
'6,784
'5,008
'10 514
'15,100
'10 565
'17,169
'4,997
'79 503
'15 953
'63,550
81,106
11 131
5,166
4836
9781
16,224
11 394
16,082
5,029
80520
15 553
64,967
'126005
'298 939
'258,447
'149571
'149,383
'749 670
'132744
'324 792
'275,139
'125609
'146,812
'804 676
11540
25886
23,837
11 002
12,932
70391
11687
25978
22,076
11 963
13,250
69649
11 145
26 132
23,597
10237
12,237
68 717
10570
25 105
23,186
8 948
11,452
64 052
10283
26 135
22,307
8348
10,838
61 009
10613
26712
20,802
8359
10,906
61 190
10880
27 107
21728
10 444
11,665
65 031
10744
28 168
21*722
10 205
11,504
64837
11051
28 569
25049
10854
12,281
67 458
11535
27947
22514
12073
13,552
70433
11359
27897
23 121
11 760
13,158
71480
'11 249
'29 046
'25 073
'11 546
'13,666
'71 577
11 586
28634
25492
11 260
13,549
71 105
'55 939 '58 385
'299 216 '310 613
'259 721 '255 638
'39 495 '55 025
5247
27211
23 859
3352
5244
25 161
21 480
3680
4923
27 184
22590
4 594
4 713
27 HO
22 162
4948
4417
24868
19589
5 279
4503
23500
19954
3546
4728
25974
21608
4366
4789
23886
19*371
4 515
4830
27 318
20 860
6 458
5081
24 526
20618
3908
4873 '5005
5325
26 302 '27 498 28069
21 849 '21 673 23915
4 453 '5825
4 154
277 153
265,777
11,376
288 372 283 465 286 671 288 770 288 564 284 306 280 616 282 354 282 047 283 255 286 830 286 027 '288 372 291 883
277 772 271 821 274 931 276 676 276 660 273 032 269 847 271 780 271 364 272 495 276003 275 393 '277 772 281 261
10,600 11,644 11,740 12,094 11,904 11,274 10,769 10,574 10,683 10,760 10,827 10,634 '10,600 10,622
278,846
290735 283 211 284 924 286,907 286 629 284 033 281,044 282 463 282 997 285,497 286 849 287,907 '290,735 291,260
267,071
29607
17690
9295
28257
58729
35,552
102,747
77,893
11,775
279 746 271 399 273 263 274 884 275 098 272 981 270 383 272 062 272 231 274 622 275 813 277,124 '279,746 280,492
30738 30349 30586 29528 27876 25982 25 139 25692 26499 27731 29680 30425 '30 738 29335
19097 17915 17944 17349 16088 14770 14358 14727 15728 16756 18 163 18948 '19 097 18,091
9394 '9539
9 188
8706
9427
9397
9539
8892
8874
9 178
8 911 8591
9844
9708
27617 27948 28400 28737 28 464 28 356 28027 27987 27706 27178 27396 27338 '27 617 27462
57 116 60105 60041 59994 58270 57432
56926 56294 56519 56573 56,747 '57 116 57,925
39,710 36,219 37,190 37,944 38,808 38,782 38,830 38,437 38,947 38,534 38,884 39,531 '39,710 40,477
112 805 104 116 104 257 105 642 108 876 109 896 109611 111 042 110 913 113 058 111 633 111,473 '112 805 113,398
89578 79,784 80298 81,804 86,099 87,994 88,827 90,247 90,178 90,632 89,150 89,089 '89,578 90,270
10,989 11,812 11,661 12,023 11,531 11,052 10,661 10,401 10,766 10,875 11,036 10,783 '10,989 10,768
4538
154,691
20772
98,845
3928 '3934
3,960
4260
4120
3988
4247
4652
4355
4717
4689
3934
4632
4159
164,410 157,406 157,684 159,073 160,314 160,530 159,412 159,384 159,570 161,670 161,652 162,043 '164,410 166,757
20009 20388 20541 20771 20581 20626 20423 20269 20063 19883 20168 19957 '20 009 19,799
102,382 100,785 102,010 102,346 101,082 98,522 96,962 98,651 99,104 99,824 101,041 101,979 '102,382 100,744
3,408
179 055
131,563
47.492
3,387
3,100
2,975 '2,971
3,093
2971
3577
3,381
3,233
3471
3,288
3670
3680
3648
193 616 182 569 183 077 185 519 188 718 189 384 188 821 190 296 190 487 192 126 191 031 191 621 '193 616 195 847
133 017 134,800 134 881 136,118 137 657 136 482 135,810 136 374 135 375 134 355 133,127 133,120 '133 017 134,609
60.599 47.769 48.196 49.401 51.061 52.902 53.011 53.922 55.112 57.771 57.904 58.501 '60.599 61.238
Feb.
SURVEY OF CURRENT BUSINESS
S-6
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS
1979
1980
Annual
March 1981
1981
1980
Sept.
Oct.
Nov.
44,923
46488
49,023
47225
39,691
43834
729
677
1068
975
926
925
1094
1 141 1009
126
120
143
121
98
68
130
143
154
221
190
122
149
192
214
202
210
215
160
135
143
134
96
99
128
139
164
400
363
332
291
381
437
405
483
492
97
131
110
116
102
118
81
70
119
243 149 190 788 274 238 428 150 381 146 436 680 445 693 345 408 1 002 944
35 191
9407 21973 29986 35 129 32913 43610 46 133 26842
30,420 37,170 47810 134,025 84,405 130,691 49,079 60,678 41,318
43763 72 131 119010 126 688 120 038 80461 178 373 108 231 804,390
84,136 54,369 60,332 96,317 78,183 123,589 84,811 81,870 56,491
49639 17711 25 113 41 134 63391 69026 89820 48496 73,903
1323
211
282
147
532
151
359 242
50288
59,971
106 539
86,849
55595
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Dec.
Jan.
Feb.
GENERAL BUSINESS INDICATORS—Continued
BUSINESS INCORPORATIONS *
New incorporations (50 States and Dist. Col.):
Unadjusted
number..
Seasonally adjusted
do
INDUSTRIAL AND COMMERCIAL
FAILURES $
47,016
44447
524,565
7564
Failures total
number
Commercial service
do....
930
1378
Construction
do
Manufacturing and mining
do . .
1 165
3 183
Retail trade
do
908
Wholesale trade
do .
Liabilities (current) total
thous $ 2 667 362
347 749
Commercial service
do
Construction
do.... 291 323
970 178
Manufacturing and mining
do
Retail trade
do.... 636,859
421 253
Wholesale trade
do
Failure annual rate (seasonally adjusted)
J
No. oer 10.000 concerns..
27.8
30.9
41,569
44583
27.5
45,007
42615
44,479
42461
36.2
42.2
43,436
41974
39.3
41,420
39746
46,151
44058
41,865
43,266
48.7
52.0
45.4
45.0
56.8
COMMODITY PRICES
PRICES RECEIVED AND PAID BY
FARMERS
Prices received, all farm products
Crops #
Commercial vegetables
Cotton
Feed grains and hay
Food grains
Fruit
Tobacco
1910-14=100..
do....
do
do....
do
do....
do
do....
Livestock and products #
do....
Dairy products
do
Meat animals
do....
Poultry and eggs
do
Prices paid:
All commodities and services
do
Production items
do....
All commodities and services, interest, taxes, and
wage rates (parity index)
1910-14=100..
Parity ratio §
do
602
501
548
490
360
403
534
1,148
708
736
938
252
615
542
561
602
417
452
470
1,228
691
798
878
253
592
496
500
520
374
431
440
1,199
692
783
887
251
598
497
487
562
368
441
458
1,188
702
783
921
230
585
496
542
547
367
431
467
1,204
679
777
876
233
563
491
584
534
366
425
459
1,206
637
777
803
219
570
505
581
564
381
434
472
1,210
637
771
810
211
582
513
555
530
391
428
520
1,210
653
764
839
218
617
544
524
632
423
443
463
1,204
694
771
894
255
643
568
555
676
445
455
444
1,204
721
783
932
271
653
584
576
687
458
458
482
1,291
724
807
921
284
652
583
569
636
464
482
510
1,235
722
838
907
279
660
609
623
655
478
499
493
1,248
714
856
877
288
662
613
640
683
489
498
438
1,331
713
863
867
297
'659
'622
'695
'649
'491
'497
'432
1,296
'697
863
'848
279
658
618
787
629
492
483
428
1,296
698
863
852
275
725
722
810
803
770
770
780
778
791
789
790
784
793
784
801
791
809
799
819
813
828
824
835
830
847
838
851
840
862
'851
(2)
854
850
71
956
64
917
65
926
65
937
62
937
60
940
61
948
61
956
65
967
66
976
67
982
66
990
67
994
67
1,016
65
1,020
2177
2470
2333
2365
2399
2426
245 1
2478
2480
2496
2519
254 1
2564
2587
2607
2174
246 8
2332
2364
2398
242 5
2449
2476
2478
2494
2517
2539
2562
2584
2605
2108
2130
216 1
2084
215.9
1987
191 1
195.1
2342
2449
234.5
2329
227 6
2397
1760
2624
2393
3
403 1
257.8
1903
1666
2120
2123
1660
2010
2003
2397
235 5
2440
2455
233.9
2450
2352
210 4
2220
2703
285 1
2546
2515
2633
2817
1916
3140
2786
5560
3018
2054
1784
2497
2492
1793
2081
2516
2659
2234
2299
2319
222.4
2320
2205
2013
210.4
253 1
266 1
243.8
2406
2473
2640
184 1
2925
258.6
5140
273.0
1969
2266
2335
2350
225.2
2363
2273
2021
213.8
2568
2702
2449
2413
2505
2672
1856
2963
2638
5391
278.8
1990
2296
237 1
2384
228.0
240.3
2326
2030
216.7
2613
2754
247.3
2436
254 5
271.6
1866
3020
268.0
5534
2840
2013
1760
2437
2440
1750
1952
232 1
2602
236 4
245 1
2465
234.1
245.9
2366
2098
222.2
2724
2876
254.8
2515
265 1
2829
192 1
3154
2855
5604
3143
206 2
1762
2510
2505
1792
2034
2505
2666
2385
2463
248 1
236.7
248.3
237.8
2124
224.2
2725
2874
258.7
2563
2658
283.3
1932
3154
2868
5615
3161
2072
1786
2527
2516
181 1
2064
2615
2684
2410
2486
2504
239.0
250.2
2393
2153
226.6
2748
2898
261.1
2589
2677
285.3
195 1
3176
2882
5615
3184
2092
182 2
2547
2532
1817
214 6
2710
2706
2421
2509
2526
240.7
251.0
2396
218 1
228.3
2779
2932
262.4
2600
271 1
290.4
197 1
3238
2876
5587
317 1
210 1
1839
256 1
254 5
1819
2227
2736
2728
2436
2532
2549
1719
2396
2398
1753
1953
2295
257 9
233 4
2426
2436
231.4
2432
2355
207 1
220.2
2692
2844
250.4
2465
2617
2802
1889
3129
2759
5560
2982
2042
1775
2490
2492
1789
1993
2395
2634
2349
2455
246 4
232.8
244.5
2363
2086
221.4
2742
2900
252.0
2480
266 7
286.3
191 1
3204
2822
5587
3088
2055
1710
233.5
2335
1739
1972
2268
2539
2317
2399
241 1
229.9
242.2
2346
2049
218.6
2653
2800
249.1
2453
2579
2760
1870
3077
2705
5564
2880
2030
1773
2468
2470
1770
196 7
2359
2620
242.5
252.4
2405
2206
230.0
280.9
2964
264.5
262 1
2738
294.7
1983
3294
2857
567 0
3105
211 0
1848
2590
2574
1843
2308
2770
2745
245 2
2555
257 1
243.8
254.1
2420
221 1
231.0
2847
3007
2664
2639
276 9
2985
1996
3342
2899
585 3
3139
211 6
1839
261 1
2594
184.5
2344
280 1
2758
247 6
2576
2592
245.4
2569
2453
2210
2324
2877
3042
2686
2656
279 1
300.1
2009
3358
2967
6259
3185
2126
181 1
264.7
2629
185.3
2340
2864
2795
13
226 1
13
'2286
r
2175
'247.0
'243.0
1766
'2457
'246.2
1747
261.6
09
'229.7
'2185
'248.3
'244.0
1769
09
'230.7
'2195
'249.3
'244.9
1768
'2479
'248.1
1783
'2694
10
01
231.6
233.0
'2203 '2213
250.5
252.9
'245.8 '248.7
177 1 178 1
'2473 '2482
'247.3 '247.7
'1784 1799
08
'235.9
'2234
'257.6
'254.6
1794
'2504
'249.4
1826
'2727
10
241 1
2280
2644
2622
182 1
2566
255 1
1833
2779
11
243.5
2300
267.6
265.6
1828
2599
2584
1835
2815
10
245.2
2313
270.2
2680
1828
2624
2609
1833
2855
07
246.6
2336
2698
2669
CONSUMER PRICES H
(U.S. Department of Labor Indexes)
Not Seasonally Adjusted
ALL ITEMS, WAGE EARNERS AND
CLERICAL WORKERS, REVISED
(CPI- W) H
1967 - 100
ALL ITEMS, ALL URBAN CONSUMERS
(CPI-U) H
1967-100
Special group indexes:
All items less shelter
'
do
All items less food
do
All items less medical care
do
Commodities
do
Nondurables
do. ..
Nondurables less food
do
Durables
do
Commodities less food
do. ..
Services
do
Services less rent
do
Food #
do....
Food a t home * . . .
. . . . do
Housing
do
Shelter #
do.. .
Rent
do
Homeownership
do
Fuel and utilities #
do....
Fuel oil and coal . . .
do
Gas (piped) and electricity
do....
Houshold furnishings and operation
do
Apparel and upkeep
Transportation
Private
New cars
Used cars
Public
Medical care
Seasonally Adjusted t
do
do....
do
do ...
do
do .
do
All items, percent change from previous month
Commodities
1967-100..
Commodities less food
do
Food
do....
Food at home
do. .
Apparel and upkeep
do
Transportation
do
Private
do....
New cars
do
Services
do....
See footnotes at end of tables.
14
'223.6
r
2113
r
245.3
r
241.9
1723
r
2354
r
235.6
r
!72 1
r
253.6
r
2149
r
244.9
r
240.8
1737
'2416
r
242.1
1739
r
257.2
r
247 1
'247.4
'1767
'265.5
1772
2497
249 7
1785
200 7
2422
264 7
'274 1
'2724
10
'2389
'2259
'2620
'2598
'1809
'2540
'2526
1849
'2746
1825
2670
2653
183 5
2880
S-7
SURVEY OF CURRENT BUSINESS
March 1981
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS
1979
1980
Annual
1981
1980
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
COMMODITY PRICES—Continued
PRODUCER PRICES §
(U.S. Department of Labor Indexes)
Not Seasonally Adjusted
Spot market prices, basic commodities:
22 Commodities
1967=100..
9 Foodstuffs
do...
13 Raw industrials
do
All commodities
By stage of processing: t
Crude materials for further processing
Intermediate materials, supplies, etc
Finished goods $
Finished consumer goods
Capital equipment
By durability of product:
Durable goods
Nondurable goods
Total manufactures
Durable manufactures ..
Nondurable manufactures
'277.1
'2556
'2930
'283.5
1
264.3
'2979
'2687
287.1
2495
3162
2549
294.1
2572
3225
260 2
285.3
2450
3169
261 9
272.5
2350
301 9
2628
264.1
2444
278 5
264 2
260.3
2500
267 5
274.6
2700
277 6
2656
286.2
275.7
242 1
243.7
236 2
289.3
277.0
243 4
245.2
236 7
288.4
278.8
2449
246.8
237 8
247 7
2744
2570
2467
267.9
247 i
2776
258 3
2467
270.7
233.8
2335
244.0
219 0
1713
233 3
248 7
2788
2598
2485
271.7
234.3
2334
233.5
2153
1666
2400
2339
234.3
2332
2295
2272
2266
2735
do
2356
do....
do....
do
do....
do
274.3
243.2
2177
217.9
2165
1
304.2
'280.3
'2469
'248.9
'2396
287.8
266.2
2344
235.8
229 1
298.5
271.9
237 7
239.7
230 5
293.6
274.3
2400
242.2
232 2
do
. do
do
do
do....
2269
2417
2288
226 1
231.1
2438
2632
2484
242 9
253.9
Farm prod., processed foods and feeds
do....
Farm products # .
do
Fruits and vegetables, fresh and dried.... do....
Grains
do
Live poultry
do . .
Livestock .
do
229.8
241 4
229.0
2148
1943
2603
2225
210.7
2103
211 2
2219
242 0
2365
222.3
214.4
2640
1594
3767
2044
408.1
4509
2702
544 1
444.8
171.3
1609
1863
91.3
252.4
2180
5354
3567
300.4
3543
2139
232.1
256.2
178.9
241.3
259.3
187 1
2835
2617
248.6
217.9
244 1
2523
219.0
2296
1943
2059
168.7
119.0
109.2
127 1
1074
160.4
1904
188.1
190.5
'251 3
'2823
'261
5
1
2507
'272.9
'244.6
'2494
'238.6
'2390
'2021
'2527
1
241 1
1
232.6
'2360
^2307
"2287
12430
'2746
'260.3
'257.0
'3240
1
174.4
J
2979
'2353
'573.4
'4674
'3215
'7605
1
674.6
1
187.6
'1739
'204.5
J
91.4
1
248.8
'233.2
'3709
*310.6
'288.9
'3259
'2397
'258.5
'289.3
1
201.6
'274.3
'286.4
'2063
'305 1
'3050
'282.9
'231.5
'2739
'2562
'249.3
'2569
'2173
'236 8
1
183.5
'134.8
'122.4
'1379
'1157
'172.2
'2076
'206.8
'208.7
247 1
2702
2532
2457
260.8
237.0
2423
220.6
2233
1846
2572
2331
224.8
2299
220 8
2233
2396
265 9
248.7
248.0
307 9
1676
302 2
2233
532.7
4596
2993
7166
620.4
185.6
168 7
1985
91.2
250.9
2280
4048
3403
294.7
341 4
2302
249.9
278.3
194.3
261.8
288.9
2026
3003
3377
274.0
231 0
2667
2622
2392
2472
210 7
231 6
176.5
127.2
118.0
1323
111 1
1668
1997
198.2
2001
2466
2731
2552
2456
265.2
234.9
2393
218.5
2179
1801
251 8
231 6
225.9
231 8
223 0
223 7
239 2
Foods and feeds, processed #
Beverages and beverage materials
Cereal and bakery products
Dairy products
Fruits and vegetables processed . .
Meats poultry and fish
Industrial commodities ... .
do
do....
do
do
do
do
do
Chemicals and allied products #
Agric. chemicals and chem. prod
Chemicals industrial
Drugs and Pharmaceuticals
Fats and oils inedible . .
Prepared paint
do....
do....
do
do ...
do
do ...
Fuels and related prod., and power #
Coal
Electric power
Gas fuels
.
Petroleum products, refined
Furniture and household durables #
Appliances household
Furniture, household
Home electronic equipment
Hides, skins, and leather products #
Footwear
Hides and skins
Leather
Lumber and wood products
Lumber
do....
do
do ..
do
do....
do....
do
do ...
do....
do....
do ..
do
do .
do....
do
Machinery and equipment #
Agricultural machinery and equip
Construction machinery and equip
Electrical machinery and equip
Metalworking machinery and equip
do .
do....
do....
do....
do....
Metals and metal products #
do....
Heating equipment
do .
Iron and steel
do
Nonferrous metals
do . .
Nonmetallic mineral products #
do....
Clay prod., structural, excl. refrac
do....
Concrete products
do .
Gypsum products
do
Pulp paper, and allied products
do....
Paper
do .
Rubber and plastics products . .
do
Tires and tubes
do
Textile products and apparel
do....
Synthetic
fibers
Dec. 1975=100..
Processed yarns and threads
do....
Gray fabrics
do
Finished fabrics
. ...
do
Apparel
1967-100..
Textile house furnishings
do .
Transportation equipment # ....Dec. 1968=100..
Motor vehicles and equip
1967—100..
Seasonally Adjusted *
Finished goods, percent change from previous
month *
. .
By stage of processing: t
Crude materials for further processing 1967 — 100
Intermediate materials supplies, etc
do. ..
Finished goods #
do
Finished consumer goods
do .
Food
do
Finished goods exc foods .. ...
do
Durable
do....
Nondurable
.
. . . .
do
Capital eauioment
do....
See footnotes at end of tables.
231.9
2364
219.0
214 6
1952
2478
2285
224.0
2254
2210
2229
2396
2606
246.0
241.9
3029
1665
3256
2233
508.0
4593
2905
6775
583.3
183.4
1665
1974
91.0
255.7
229 1
4688
3476
290.0
3363
2276
248.4
276.0
190.6
258.9
284.6
1995
2974
3263
268.4
229.6
2654
2554
2374
2455
207 8
225 1
175.2
127.0
114.6
1327
1105
165.5
1990
198.7
200.7
16
13
2888
267.3
2342
2358
2320
2325
198.9
2614
228.2
2951
2720
2373
2393
2307
2382
202.2
269 1
230.0
2686
252.8
256.1
3133
1689
299 9
2287
553.5
461 7
3055
7166
659.0
185.7
169 9
1989
91.3
246.8
2318
3487
3110
294.9
3406
2325
252.0
279.5
196.5
264.1
286.8
2026
301 8
3214
276.5
231 4
269 1
267 6
2426
2503
212 7
231 6
179.3
129.1
119.3
1368
1132
1680
2012
198.8
200.7
11
2884
2740
2399
242 1
2329
2412
200.8
2759
232.1
229.3
2289
223.2
2108
1719
2305
2286
227.9
2324
227 5
224 6
2260
271 3
259.8
258.5
322 1
1726
298 2
2315
566.6
465 2
310 1
730 1
678.0
184.4
171 1
2003
91.4
243.5
2319
3286
2976
275.6
310 1
2364
254.4
284.2
198.9
270.2
284.4
2042
3072
2983
283.7
235 0
2729
264 0
2478
2535
214 1
231 8
181.2
130.4
122.1
1370
1145
1700
2016
203.2
205.4
2331
231.2
2347
228 5
2254
224 5
271 9
262.5
258.5
328 5
1728
294 7
2388
572.1
4665
3165
745 1
680.9
185.4
173 2
2030
92.0
240.7
2319
2897
2904
272.1
3014
2376
256.4
285.9
199.9
272.9
281.8
2040
304 8
2897
284.0
2300
2752
256 5
2492
2561
215 0
2332
182.0
133.2
124.2
1365
1153
170.2
2026
202.5
204.5
262.8
257.6
329 5
174 4
2558
2388
576.5
4666
3260
749 2
681.7
186.5
1755
2040
91.8
240.9
2319
315 7
2844
279.8
3130
2392
257.1
287.6
201.6
275.4
281.9
2050
303 4
2888
283.4
230 1
275 8
257 l
251 1
2579
217 3
235 6
183.0
134.5
122.8
134 8
115 8
1727
2027
203.1
205.2
2704
288.7
2837
292 1
2738
292.8
2848
2983
2746
304.3
281.6
2493
251.7
2406
317.0
284.3
251 4
254.1
241 9
319.3
285.3
2514
254.1
241 8
251 2
2856
2630
2510
275.9
246.6
2543
252.0
244 8
2272
2605
241 5
234.6
234 7
230 1
2298
248 5
2762
263.3
258.7
3287
1757
2600
2388
585.5
467 5
331 1
762 1
693.9
188.0
1758
2065
91.7
245.1
2327
356 6
2922
289.2
3272
2415
258.6
291.5
203.7
278.0
282.5
2062
3006
2926
284.8
230 1
275 9
253 1
2517
2582
218 8
2380
184.7
136.0
122.4
135 7
1166
1744
2107
206.2
208.6
253 1
2903
265 7
2527
279.5
255.1
263 8
254.0
256 5
2245
2757
2494
237.1
235 8
2326
230 7
2599
2537
291 2
265 8
253 1
279.5
2782
264.4
260.0
3300
1761
307 6
2388
590.6
4687
3336
7726
697.6
188.9
176 3
2080
91.3
251.3
2337
398 4
3142
296.1
3337
2426
259.9
293.4
205.0
278.8
285.1
2080
3026
2984
286.0
2297
2760
251 8
2524
2586
2205
238 0
185.6
137.5
123.2
137 5
1168
175 1
2110
208.8
211.7
256.5
267 0
266.2
2606
2410
266 8
r
2498
236.1
2383
r
2337
r
231 3
257 8
2788
263.4
260.6
r
327 5
1768
304 5
r
2393
593.5
r
471 3
r
3383
7862
696.4
189.5
177 2
r
2085
r
91.6
247.8
r
2355
356 1
r
2981
292.2
3280
2447
263.9
'295.7
206.0
280.2
287.3
2088
304 5
3022
r
286.8
r
2301
r
277 3
251 8
2528
r
2587
2220
r
242 1
186.6
r
!39.5
124.3
141 0
1170
1750
r
2129
204.4
205.6
287.7
2726
2984
281.7
2677
291 6
273.4
2585
2842
2778
298.4
2894
304 7
278 4
2803
283 5
286 9
322.6
'287.7
'255
5
r
257.0
r
249 2
323.2
288.6
2556
257.4
2489
320.8
291.7
2569
258.6
2508
321.3
295.5
2598
261.4
2539
335.5
297.8
262 4
264.0
2563
r
258 4
r
2930
r
269 6
r
257 g
294 8
270 1
257 1
283.9
260.1
264 9
246.4
2709
221 0
254 8
2565
238.1
245 4
240 6
2352
2508
282 7
266.9
260.4
333 4
181 1
308 2
241 7
597.6
475 7
332 0
826 5
696.8
190.4
177 2
209 1
91.1
255.5
2377
409 1
3173
293.4
3250
2477
266.1
299.7
207.4
283.7
290.7
2112
3125
3010
288.4
2336
277 6
2533
2555
2644
223 0
244 7
2608
295 8
271 9
2602
284.2
256.5
2653
244.7
265 2
218 9
251 4
2508
238.1
248 5
242 7
237 1
248 0
286 1
267.9
262.8
3346
181 8
316 0
241 7
611.7
475 7
337 9
841 8
716.3
192.3
178 2
2104
91.0
256.6
237 1
3928
3324
299.4
3330
2495
269.5
301.1
208.9
285.6
290.7
2126
316 0
2944
290.7
234 1
2778
252 7
2574
2698
2235
244 7
190.2
141.5
127.6
1433
1200
1770
2185
224.1
225.9
261 9
300 7
276 4
261 5
292.5
257.3
2644
263 1
306 0
278 7
2627
295.5
254.9
2623
270.4
2675
2208
244 6
250 0
242.2
251 7
245 5
244 1
243 9
294 8
296.6
2903
3008
r
257 8
281.8
'259.4
r
263 6
r
240'.9
269 2
2229
2630
r
256 1
'239.5
r
241 5
'2380
r
r233 8
256 o
r
2820
'264.8
r
260.6
r
3300
1784
3020
r
239 3
r
592.9
r
4707
r
337 4
rgQ22
r
690.4
190.9
177 5
r
209
8
r
91.5
251.2
r
2366
381 5
3019
'289.0
r
3206
r
2468
'265.4
'299.1
207.0
'282.5
'291.9
'2106
'3105
'3094
'288.6
'2333
r
277 5
2495
'2543
'262 1
'2228
'245 2
188.1
140.2
125.1
'143 5
'118 3
'1762
'2138
'217.4
'218.2
189.3
141.4
124.9
144 3
1190
1760
2180
216.0
218.0
251.7
277 7
213 1
244 3
252 4
240.4
2508
245 2
237 4
248 8
2899
273.6
265.8
342 g
184 7
3106
243 3
625.9
477 5
341 7
857 9
736.0
193.2
181 0
211 3
91.0
258.5
2386
377 8
3326
296.6
3316
2527
273.5
304.9
211.9
289.3
293.6
2154
322 8
2906
296.3
2400
2856
259 6
2620
271 0
224 9
2405
192.4
147.3
129.2
1428
121 5
1786
2239
226.4
228.5
277.2
271.3
3494
187 4
2897
246 9
663.8
4808
345 4
858 8
767.8
194.6
182 3
212 1
91.7
257.4
2408
367 3
3100
294.5
3278
2548
277.2
308.4
213.6
291.2
293.7
216 1
3230
2862
297.7
240 4
2866
257 3
2662
273 1
226 5
243 1
193.1
147.8
129.6
143 1
1222
1793
2254
228.5
230.2
08
05
08
17
12
0.3
'09
'05
05
0.9
08
2831
274.7
2417
243.3
2298
2445
201.5
2815
235.8
286 1
276.4
2428
2445
2308
2458
201.7
2836
236.6
2883
2784
2448
2466
232 1
2482
204.7
2856
238.2
3036
2810
2490
2512
2406
2508
207.7
2878
241.1
3175
283.7
2520
254.3
2470
252.3
209.4
289.1
243.6
321.8
285.2
2527
255.1
2483
252.8
209.1
2903
243.9
'3272
'287.6
'2551
'257 1
'2500
'2548
'212.3
'2914
'248.1
3292
289.8
2563
258.4
2503
2567
212.5
2947
248.4
3253
293.3
2575
259.4
2505
258.0
212.4
297.2
250.6
322.1
296.8
2597
261.5
2506
261.1
212.5
302.3
253.0
3314
297.9
2619
263.6
2492
264.5
213.5
307.7
255.8
S-8
SURVEY OF CURRENT BUSINESS
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
hi the 1977 edition of BUSINESS STATISTICS
1979
1980
1980
Annual
March 1981
Jan.
Feb.
Mar.
Apr.
May
June
1981
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
COMMODITY PRICES—Continued
PRODUCER PRICES-Continued
(U.S. Department of Labor Indexes) —Continued
Seasonally Adjusted
By durability of product:
Total manufactures
Durable manufactures
.
Nondurable manufactures
1967—100
do....
do
2489
242.9
2549
2535
245.7
2616
2555
245.4
2657
2562
246.2
2668
2573
246.2
2694
2593
248.5
270 1
262.5
251.3
2745
266.0
253.0
2795
2657
252.8
2794
0.427
0.429
0.421
0.423
0.417
0.417
0.413
0.412
0.411
0.408
0.408
0.404
0.401
0.404
0.398
0.401
0.398
0.397
2685
255.7
2824
2705
257.4
2853
2733
261.2
2859
(2)
0.392
0.394
0.391
0.390
0.389
0.387
0.385
0.384
r
20,047 18,945
15,735 15,391 14,735
r
7,126
8,006 '8,030
6,061 r6,182 '5,365
16,439
12,824
6,464
4,907
(2)
(2)
PURCHASING POWER OF THE DOLLAR
As measured by:
Producer prices
Consumer prices i
fl
1967— $1.00..
do....
0459
0.461
r
0.381
CONSTRUCTION AND REAL ESTATE
CONSTRUCTION PUT IN PLACE @
New construction (unadjusted), total
Private total #
Residential
Nonresidential buildings, except farm and
public utilities total #
. . mil. $.
Industrial
do
Commercial
do .
Public utilities:
Telephone and telegraph
do....
Public total #
Buildings (excluding military) $
Housing and redevelopment
Industrial
Military facilities
Highways and streets
do....
do
do....
do
do
do.. .
16,709
13,215
6,798
5,234
15,842
12,538
6,240
4,687
17,003
13,365
6,686
4,905
17,909
13,869
6,836
4,731
18,873
14,212
6,963
4,695
19,706
19,975
14,522
7,134
4,993
20,483
15,054
7,556
5,405
21,156
14,568
6,959
4,753
47,298
14,950
24,924
51,891
14,023
29,340
3,952
1,142
2,167
3,817
1,094
2,110
3,969
1,113
2,209
4,202
1,106
2,419
4,373
1,174
2,500
4,543
1,274
2,564
4,375
1,153
2,504
4,503
1,187
2,580
4,473
1,178
2,529
4,676
1,178
2,702
6,343
49,003
15,857
1,211
1,411
1,640
11,915
6,745
55,153
483
3,494
1,301
115
140
133
567
496
3,304
1,269
119
103
131
526
557
591
4,040
1,483
132
151
146
843
565
4,661
1,547
132
156
155
1,186
607
5,139
1,701
141
165
149
1,497
584
3,638
1,378
133
189
146
574
5,453
1,704
148
150
174
1,590
568
5,429
1,777
129
145
197
1,488
596
5,738
620
5,392
1,813
139
201
176
1,637
259.6
198.1
237.1
180.6
94.0
68.4
225.8
171.5
83.5
60.7
218.9
164.8
77.0
55.2
215.0
161.3
73.4
51.9
214.3
158.6
74.3
52.2
215.1
162.1
78.6
56.1
223.7
167.9
105.8
80.7
248.8
191.7
101.5
75.1
56.6
15.8
31.6
54.9
15.7
30.7
52.3
13.9
29.9
52.7
13.6
30.9
52.9
14.2
30.1
52.9
15.0
29.6
49.4
13.3
28.1
7.5
61.5
17.6
1.7
1.8
1.8
16.9
7.6
57.0
18.2
1.7
1.4
1.5
15.7
7.0
56.5
18.5
1.9
2.1
1.9
13.6
7.3
54.3
18.3
1.8
1.8
2.0
14.4
6.6
54.1
18.5
1.5
1.8
1.7
13.2
6.8
53.7
19.4
1.6
1.8
1.7
14.0
147,164 10,940
162
190
41,351 '3,465
r
105,813
7,475
10,394
171
3,134
7,260
11,286
155
3,287
7,999
11,071
130
3,724
7,348
11,135
125
3,534
7,601
52,345
63,206
31,613
r
4,278
'4,055
'2,607
3,635
4,337
2,422
4,272
4,584
2,429
4,063
4,373
2,635
149,143
17,164
12,564
12,750
1,298.5
1,292.2
852.2
73.4
73.1
49.3
80.6
79.9
49.9
1,389
965
1,182
704
221.5
18,931
1,658
1,791
1,875
13,472
New construction (seasonally adjusted at annual
rates) total
bil $
Private total #
do
Residential
..
. . . . do . .
New housing units
do
Nonresidential buildings, except farm and
public utilities total #
bil $
Industrial
do.. .
Commercial
do
Public utilities:
Telephone and telegraph
do
Public total #
do . .
Buildings (excluding military) $
do...
Housing and redevelopment
do
Industrial
do....
Military facilities
do
Highways and streets
do....
CONSTRUCTION CONTRACTS
Construction contracts in 50 States (F.W. Dodge
Division, McGraw-Hill):
Valuation total
mil $
Index (mo. data seas, adj.)
ft
1972=100..
168,446
186
46,646
121,800
Private ownership
do
By type of building:
Nonresidential
do. .
50,206
74,557
Residential
do
43,683
Non-building construction
do....
New construction planning
(Engineering News-Record) §
do.... 135,005
HOUSING STARTS AND PERMITS
New housing units started:
Unadjusted:
Total (private and public)
thous.. 1,749.1
Privately owned
do . . 1,745.1
One-family structures .
do
1,194.1
Seasonally adjusted at annual rates:
Total privately owned @ @
do....
One-family structures @ @
do
New private housing units authorized by building
permits (16,000 permit-issuing places):
Monthly data are seas. adj. at annual rates:
Total
thous
1,552
One-family structures
do....
982
Manufacturers' shipments of mobile homes
(Manufacfactured Housing Institute):
Unadjusted
thous..
277.4
Seasonally adjusted at annual rates
do....
See footnotes at end of tables.
21,127
227,776
172,623
86,210
62,794
mil. $.. 228,950
do.... 179,948
99,030
do
78,587
15,418
7,876
5,783
4,529
1,157
2,586
r
532
4,656
548
'4,210
1,672
157
107
158
1,644
1,638
149
112
160
1,135
1,646
163
174
155
'786
231.6
177.9
93.7
69.2
'242.4
184.0
84.4
60.8
226.1
171.1
87.4
63.5
'96.0
'71.1
192.0
100.7
75.7
49.1
13.0
28.0
49.0
13.1
27.4
50.2
13.0
28.4
51.1
13.4
28.9
'54.6
15.1
'30.4
57.8
14.4
33.5
6.7
55.7
18.0
1.6
1.8
2.0
13.8
6.3
53.1
19.5
1.5
1.6
2.3
11.3
6.7
55.8
19.4
1.4
2.4
1.7
13.8
6.3
55.1
18.8
1.6
1.4
2.1
13.6
6.3
53.7
19.4
1.7
1.4
1.9
12.4
6.2
'58.4
'20.9
'2.1
2.2
1.8
13.7
63.7
20.0
2.5
2.3
2.1
19.1
12,425
145
3,867
8,558
13,466
148
3,783
9,684
15,146
192
3,488
11,657
13,077
163
3,559
9,518
13,886
167
3,459
10,428
13,296
210
3,367
9,929
12,513
193
3,238
9,275
10,467
185
3,242
7,225
4,135
4,495
2,505
4,861
5,092
2,471
4,819
6,105
2,542
4,313
5,897
4,936
4,419
6,069
2,589
5,025
6,785
2,076
5,008
5,847
2,441
4,709
5,570
2,235
4,122
4,207
2,139
12,397
13,057
8,900
9,642
8,997
9,821
13,580
17,200
13,071
14,991
12,449
86.1
85.1
51.7
96.6
96.2
61.5
92.1
91.7
64.9
116.8
116.4
76.9
120.7
120.1
85.6
130.3
129.9
92.0
139.3
138.3
95.0
153.0
152.7
97.5
113.5
112.9
71.2
'96.4
'95.9
'56.6
'82.6
'82.0
'48.2
72.1
47.5
1,273
111
1,040
628
1,044
650
938
651
1,184
760
1,277
867
1,411
971
1,482
1,032
1,519
1,009
1,550
1,019
1,535
'974
1,615
'992
1,218
779
1,271
780
1,168
708
968
556
789
473
825
495
1,078
628
1,236
781
1,361
857
1,564
914
1,333
819
1,355
812
1,235
743
1,228
'715
1,143
672
18.3
261
18.9
274
19.3
231
18.2
206
15.5
165
15.4
166
17.0
207
20.0
208
21.5
239
23.6
236
17.8
239
16.0
261
15.8
233
r
4,481
1,265
2,474
r
4,052
1,040
2,323
3,614
1,478
163
182
160
640
255.6
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS
S-9
SURVEY OF CURRENT BUSINESS
March 1981
1979
Annual
1981
1980
1980
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
CONSTRUCTION AND REAL ESTATE—Continued
CONSTRUCTION COST INDEXES
211 4
1996
Dept of Conunerce composite
1972 — 100
2217
2154
2160
2163
American Appraisal Co., The:
2357
Average 30 cities
1913—100
2495
2423
2435
2432
2418
Atlanta
do..
2506
2660
2594
2606
2600
2561
New York
do....
2,431
2,553
2,531
2,535
2533
2,510
San Francisco . . .
do .
2498
2671
2605
2617
2610
2609
2,424
St. Louis
do....
2,343
2,284
2,289
2286
2261
Boeckh indexes:
Average, 20 cities: @
1705
Apartments hotels office buildings 1972 — 100
1860
1785
1799
Commercial and factory buildings
do....
179.0
195.2
188.2
189.3
Residences
do
1766
1860
1825
1827
Engineering News-Record:
Building
1967—100
2693
280 7
2877
2809
2839
2826
Construction . . . .
do....
2795
3014
2915
2933
2918
294 1
Federal Highway Adm. — Highway construction:
Composite (avg. for year or qtr.)
1967=100..
308.3
347.9
336.9
CONSTRUCTION MATERIALS
Output indexes:
Iron and steel products
1947-49—100..
165.6
Lumber and wood products
do .
1912
Portland cement
do....
225.2
REAL ESTATE U
Mortgage applications for new home construction:
133.8
141.4
FHA net applications
thous. units..
8.9
8.2
10.0
9.9
r
r
121
Seasonally adjusted annual rates
do
!29
110
l!9
216 1
Requests for VA appraisals
. .
do
166
152
149
2022
157
Seasonally adjusted annual rates
do....
207
208
152
180
Home mortgages insured or guaranteed by:
Fed Hous Adm * Face amount
mil $ 18 166 74 16 458 53 2 085 53 1 401 68 1 287 33 1 367 96
Vet. Adm.: Face amount §
do.... 16,505.50 13,855.54 1,956.35 1,301 10 1 252 31 1 148 69
Federal Home Loan Banks, outstanding advances
to member institutions, end of period
mil. $.. 41,838
48,963 41,733 41,802 44,122 44,660
New mortgage loans of all savings and loan
4 344
4 us
100 546
72537
associations estimated total
mil $
5723
4581
By purpose of loan:
20583
Home construction
do
928
14946
981
969
1 119
Home purchase
do....
62740
42957
2544
2316
2793
3547
17223
14634
All other purposes
do
872
819
819
1057
2188
2226
223.7
223.9
2243
226.5
2285
2302
2313
2 430
2563
2,509
2607
2,259
2502
2672
2,528
2626
2,367
2531
2726
2,580
2722
2,383
2551
2,735
2,589
2,732
2,398
2545
2,717
2,577
2,717
2,384
2547
2711
2,575
2730
2,395
2556
2715
2,579
2738
2,399
2566
2,723
2,587
2,744
2,406
2578
2,773
2,621
2820
2,396
1878
197.3
1857
183 1
191.7
1850
2890
3035
1940
203.2
1914
1926
201.8
1888
2921
307.6
1948
204.7
1926
2960
3125
2982
3139
'2984
^140
11.3
176
113
169
7.4
129
125
177
8.3
119
149
191
92669
848.02
91870 1 324 06 1 506 58 1 461 37 1 584 55 1 242 93 1 351 14
740.56 817.14 944.00 1,623.90 1,133.39 1 135.18 954.90
95533
917.26
84936
745.20
43,366
42,364
48,963
48,581
48,206
2799
2922
284 1
2977
10.9
123
174
197
2925
3097
2986
3143
349.7
345.4
360.2
12.3
116
148
165
2924
3090
15.4
163
223
247
41,473
15.6
186
210
246
42,605
16.5
185
203
243
44,161
12.9
137
198
213
46,115
9.6
133
129
189
47,322
3241
4130
5711
8339
9500
9336
6574
r
6942
4049
706
1848
687
915
2374
841
1238
3498
975
1556
5,208
1575
1803
5708
1989
1886
5552
1898
1391
3821
1362
1454
r
3748
1740
958
2 192
899
DOMESTIC TRADE
ADVERTISING
McCann-Erickson national advertising index,
seasonally adjusted:
Combined index
1967—100
Network TV
do
Spot TV
do....
Magazines
.
do
Newspapers
do....
Magazine advertising (Publishers Information
Bureau):
Cost total
mil $
Apparel and accessories
do . .
Automotive incl accessories
do
Building materials
do.. .
Drugs and toiletries
do
Foods soft drinks confectionery
do
Beer wine liquors
do.. .
Houshold equip, supplies furnishings
do.. .
Industrial materials
do . .
Soaps cleansers etc
do
Smoking materials
do
All other
do.. .
Newspaper advertising expenditures (64 cities): $
Total
mil $
Automotive
do
Classified
do....
Financial
do. ..
General
do
Retail
do
WHOLESALE TRADE
Merchant wholesalers sales (unadj.), total
mil. $..
Durable goods establishments
do
Merchant wholesalers inventories, book value,
end of year or month (unadj.) total . mil $
Durable goods establishments
do
Nondurable goods establishments . . .
do
See footnotes at end of tables.
274
312
293
235
246
289
311
300
260
278
300
338
301
263
288
295
332
293
266
274
297
332
342
236
270
302
343
339
252
261
311
360
329
263
276
305
341
335
243
294
326
370
349
280
291
314
363
360
253
265
294
330
354
227
259
2671 1
923
2237
466
2690
200 7
236.1
1308
699
357
281 2
10852
1726
53
143
1.7
154
106
12.0
51
48
27
236
77 1
2174
47
20 0
30
204
197
152
74
58
23
23 1
959
2557
100
243
40
216
195
195
112
67
26
27 1
1092
2613
132
202
62
254
188
203
149
71
31
24 4
1077
2669
8.9
239
6.5
283
153
20.2
165
66
32
248
1129
2344
5.9
201
5.0
249
173
22.9
118
58
22
243
942
1708
53
127
3.0
210
152
13.7
79
34
09
21 3
663
1753
7.8
84
2.9
236
134
11.9
79
40
23
23 l
699
2510
15.9
120
5.2
278
14 4
16.7
123
74
33
256
1105
2752
13.0
243
4.6
259
196
22.0
146
72
31
249
1160
3115
11.9
273
3.9
274
294
27.6
18.4
76
27
242
1312
2543
9.7
221
2.4
226
184
36.9
10.8
45
14
234
1022
75290
1930
2,201.7
236.8
9378
39598
6004
167
184.6
286
864
2842
6365
182
190.0
209
916
316 0
7437
173
213.9
256
104 4
3824
6694
15 5
1777
300
1013
3449
7067
159
182.3
25.9
1030
3796
695.2
147
188.3
24.9
96.5
3708
5863
129
172.0
24.3
721
3050
6750
136
196.8
160
781
3705
650.2
152
180.8
21.9
932
3392
738.4
156
183.8
277
1059
4054
810.0
167
185.3
24.4
1137
4699
680.5
113
136.2
279
766
4285
75,746
33949
41 797
80,597
36170
44427
79,388
35302
44086
79,449
34214
45235
77,790
34,610
43180
81,256
34882
46374
81,397
35,091
46306
85,715
37,173
48542
93,336
40,200
53 136
85,336
35,722
49614
r
91,522
r
37,397
r
92854
58463
34390
93745
59460
34285
93,479
60458
33021
93522
61715
31807
93,112
61493
31619
93612
61053
32559
95215
62119
33096
96,302
61553
34749
98,969 100,464 '100,055 100 462
61346 62049 '62 804 62704
37623 38,415 '37,251 37758
883,334
404 288
479 046
988,372
428 025
560 347
r
76,840
r
89757
56 230
33527
100 055
62804
37251
r
91 088
r
33 315
43 525
56 879
34209
54 125
87,220
35,037
52183
S-10
SURVEY OF CURRENT BUSINESS
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS
1979
1980
March 1981
1981
1980
Annual
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
78937
80780
76650
82997
82835
r
99 588
r
r
r
Dec.
Jan.
Feb.
DOMESTIC TRADE!—Continued
RETAIL TRADE
All retail stores: t
Estimated sales (unadj ) total 1"
mil $
886 047
944 619
69449
69575
74942
74209
78215
76,442
308,156
300 448
22707
23044
24366
23,846
24445
24,963
26,284
25,492
24,733
26928
25,369
52,239
35 102
8,993
50,071
33387
8933
3,400
2315
'593
3,335
2 195
577
3,683
2385
653
4,049
2623
747
4,441
2839
830
4,423
2917
768
4,408
3002
775
4,454
3043
739
4,587
3 189
740
4,833
3372
798
4,309
2911
761
do....
do
do....
177,714
161 277
16,437
166,651
148 054
18,617
13,366
12055
1,311
13,754
12508
1,246
14,444
13060
1,384
13,542
11952
1,590
13,422
11826
1,596
14,039
12451
1,588
15,159
13475
1,684
14,184
12540
1,664
13,490
11934
1,556
15,013
13281
1,732
do....
do....
do
41,868
26,726
12 119
43,690
27,260
12822
3,317
2,105
938
3,251
2,086
906
3,392
2,176
945
3,313
2,129
928
3,478
2,184
1009
3,384
2,137
1015
3,695
2,333
1085
3,603
2,258
1049
3,801
2,402
1092
do....
do....
do....
do
577,891
110,233
2
89,127
7,914
659,419
116,721
94,845
8281
46742
6,817
5,488
513
46,531
6,911
5,571
517
50,576
8,350
6,770
610
50,363
8,642
6,975
666
53,770
9,510
7,736
689
51,479
8,745
7,116
635
52,653
8,661
7,023
635
55,288
9,675
7,889
693
51,917
8,959
7,350
594
. . . . do
do....
do
191,326
177,703
71,894
212 189
196,517
92568
16349
15,204
6675
16 146
15,002
6702
17 118
15,877
7284
16,803
15,514
7,466
18299
16,998
7847
17,212
15,907
8,088
18 189
16,868
8,333
18,645
17,323
8,300
17,281
16,022
7,821
18,388
17,079
8,078
do....
do
43,028
8772
45,618
9015
3,061
604
2,796
538
3,351
614
3,549
645
3,608
691
3,383
711
3,343
633
4,010
767
3,664
683
4,026
789
Women's clothing spec stores furriers do
Shoe stores
do .
15802
7,127
16 714
7,696
1 112
540
1046
462
1254
599
1314
667
1335
628
1203
578
1250
552
1443
693
1384
664
1519
693
Durable goods stores $
do...
Building materials, hardware, garden supply,
and mobile home dealers #
mil. $..
Building materials and supply stores do
Hardware stores
do. .
Automotive dealers #
Motor vehicle dealers
Auto and home supply stores
•
Furniture, home furn., and equip #
Furniture, home furnishings stores
Household appliance radio TV
Nondurable goods stores
General merch. group stores
Department stores
Variety stores
Food stores
..
Grocery stores
Gasoline service stations
.
Apparel and accessory stores #
Men's and boys' clothing
Eating and drinking places
Drug and proprietary stores
do....
do....
Estimated sales (seas adj ) total "f
75,139
27,174
15595
81,216
30,482
16924
do
^"Durable goods stores # .
. . do .
Building materials, hardware, garden supply,
and mobile home dealers $ ....
mil $
Building materials and supply stores do
Hardware stores
do
5,871
6023
2,326
2,329
1 294 1258
79464 77993
6485
2,364
1301
76534
6,613
2,399
1297
75011
7,022
2,509
1425
74587
7,011
2,414
1378
76,001
3,625
2,258
1 109
7,158
2,433
1429
78287
28 271
76 336 '73 153
23,511 '23,513
r
r
4,149
r
2596
r
3,467
2298
665
952
'3,335
13,255 12,983 13,364 13,720
11675 11 297 11916
1,580
1,448
1,686
r
3,603 '3,435
4,022 r4,809
2,520 '2,672
2,244
1 169 1577
1047
r
57,466 r71,317 r52,825
'49,640
11,874 18,433 rr7,315 '7,087
9,709 14,963
5,958 '5,766
736 1,306
522
18,027 19,732 18,696 17,131
16,724 17,999
17,330 15,805
7,791 r8,183
•7,967 '7,672
r
r
3,349 '2,937
4,288
6,539
900 1,440
636
71,317
10,144
8,255
687
1,554
718
r
r
7,040
r
1,234
593
2,300
r
902
r
6,604
'2,623
1315
7,428
2,475
1452
6,824
2,422
1305
7,047
2,601
1377
6,694
2,564
1439
78,770
80,087
80,609
82125
r
r
r
r
27268
26369
24296
22821
22537
23,212
25,076
24,821
25,868
25,591
26,524
4679
3 180
788
4370
2862
756
4076
2698
716
3902
2620
703
3917
2641
716
3,914
2604
706
3,930
2588
733
3,993
2651
'734
4,236
2822
741
4,243
2853
744
4,455
2961
'758
15691
14 182
1509
15045
13537
1508
13488
12070
1418
12251
10719
1,532
12025
10512
1513
12,612
11 107
1,505
14,203
12582
1,621
13,938
12343
1,595
14,696
13 172
1,524
14329
12721
1,608
3,646
1969
82 646
26,262
'6,404
'2,507
85,078 '85 826
27,866 '28,051
r
r
4,479
r
2960
r
4,765
3170
865
819
'4,600
14,802 14,308 15,391 '15,631
13222 12 679 13760
1,580
1,631
1,629
Automotive dealers ....
Motor vehicle dealers
Auto and home supply stores
do
do
do
Furniture, home furn., and equip. #
Furniture home furnishings stores
Household appliance, radio TV
do....
do
do....
3733
2363
1068
3,620
2300
1,016
3515
2218
1010
3,439
2 142
1,005
3,478
2 184
1,009
3,453
2,135
1,058
3,615
2229
1,105
3,620
2261
1,074
3,719
2355
1,070
3,654
2303
1,049
^Nondurable goods stores
General merch. group stores
Department stores
Variety stores
do....
do
do
do. .
52196
9709
7851
726
51,624
9426
7674
682
52,238
9288
7564
667
52,190
9,215
7468
693
52,050
9473
7721
694
52,789
9,331
7,586
684
53,211
9,467
7735
684
53,949
9,809
8034
691
54,219
9,562
7778
669
55,018
10,015
8 125
693
55,601 r56,384
10 175 10 172
8327 r8221
r
687
694
Food stores
Grocery stores
Gasoline service stations
do....
do
do....
16997
15739
7056
16,749
15514
7,285
17,228
16005
7,502
17,376
16,077
7,572
17,097
15,856
7,531
17,400
16,133
7,852
17,660
16361
7,906
17,906
16561
7,793
18,179
16830
7,821
18,095
16794
7,896
18,338 18,723 18,657 18,764
16979 17 274 17
175 17292
r
7,926 T8,110
8,386 '8,640
Apparel and accessory stores #
do
Men's and boys' clothing
do. ..
Women's clothing spec stores furriers do
Shoe stores
do
3793
696
1420
649
3671
707
1326
608
3611
674
1 401
625
3681
678
1405
629
3723
740
1358
634
3780
763
1364
644
3784
'758
1397
625
3917
835
1424
651
3809
796
1384
643
3876
803
1397
645
3885
775
1408
669
r
3885
r
734
1426
r
649
r
4 Oil
719
1516
694
'4023
Eating and drinking places
Drug and proprietary stores
Liquor stores
6860
2464
1460
6,634
2439
1,425
6,692
2422
1,399
6,700
2450
1,435
6,520
2499
1,412
6,577
2491
1,392
6,603
2519
1369
6638
2526
1407
6,831
2568
1377
6,929
2646
1399
6,937
2674
1416
r
7,147
r
r
7,387
r
'7516
'2743
do ...
do
do ...
,
Estimated inventories, end of year or month: t
Durable goods stores #
Building materials and supply stores
Automotive dealers
Furniture home furn., and equip
do ...
do
do
do ...
Nondurable goods stores #
do
General merch. group stores
do....
Department stores
. do
Food stores
do
Apparel and accessory stores
do....
Book value (seas adj ) total
....
do
Durable goods stores $
do
Building materials and supply stores .. do .
Automotive dealers
. ..
do
Furniture, home furn and equip
do. ..
Nondurable goods stores #
General merch. group stores
Department stores
Food stores
Apparel and accessory stores
Firms with 11 or more stores:
Estimated sales (unadjusted), total
Durable goods stores
Auto and home supply stores
Nondurable goods stores #.<
General merchandise group stores
Department stores
Variety stores
..
Miscellaneous general stores
See footnotes at end of tables.
(2)
.
106 463
52,765
8678
26679
7,835
53698
19249
14265
11250
8,944
108 862
53087
9*058
26311
7930
3,777
2353
1,109
109 594 105 028 106 677 109 853 111 368 110 536 110 023 109 890 109 175 112613 118 136 rrl!9 976
51,455 51928 52,614 53,688 54,093 53,333 52,669 51,594 49,936 50,034 51,850 53,248
8,976
9,465
9,133
8951
9,001
8759
8852
9374
9183
9 150
9,050 r8,984
24360 25658 25990 26398 26245 25683 24943 24049 22135 21803 22900 24024
7,949
8,147
8,048
8,170
7736
7,842
8,139
8,223
8,223
7,852
8,482 r8,353
58 139 53 100 54063 56 165 57275 57203 57354 58296 59239 62579 66286 rr66 728
20,783 19253 19,803 21,132 21,839 21,726 21,699 21,991 22,532 24,105 26,035 26,165
15640 14 186 14437 15476 16,003 15950 15937 16,068 16,503 17,634 19,108 19,477
12 196 10975 10995 11301 11342 11332 11475 11516 11567 11781 12455 r 12731
9,827 10,560 10,985 ll,051
9,119
9,019
9,144
9,436
9,537
8,511
8,719
9,136
112 288 108 436 108 717 109 095 110 252 109 837 109 768 110786 111 323 112 840 114381 rr113 940
804
51856 52130 52232 52276 52490 51792 51645 51531 52383 52238 52687 52
9 143
9088
9066
9,136
8,942
9,114
8*881
8,989
9,076
9,083
9197 r9 158
24024 25 130 25209 24998 24783 24252 23961 23858 24513 24280 24 414 24564
7947
8203
7910
8021
8,115
8231
8 121
8010
8 131
8094
8243 r8'o86
60,432 56306 56,485 56,819 57,762 58,045 58,123 59,255 58,940 60602 61694 rr61 136
22,782 21,476 21,362 21,712 22,015 21,900 21,934 22,281 22,120 22,752 23,280 23,041
17,074 15833 15,641 15857 16,035 15982 16,131 16,463 16,356 16810 17045 16 922
12087 11097 11208 11290 11388 11378 11464 11644 11755 11888 12153 12253
9599
9271
9,924
9266
9248
9,147
9342
9,398
9925
9*977 10 056
9644
do....
do....
do....
do
do....
55,775
21,071
15,539
11 128
9,307
mil. $..
296,593
324,304
22,164
22,209
24,933
24,983
26,939
25,215
25,841
27,678
25,927
28,491
do
do. .
22568
3338
23397
3501
1517
244
1492
230
1682
261
1792
302
1938
303
1887
305
1910
313
1935
306
1904
293
2057
321
do. .
do....
do
do
do....
274 025
95,933
83 857
6258
5.818
300 907
101,966
89 234
6627
6,105
20647
5,879
5 161
387
331
20717
5,997
5245
405
347
23251
7,286
6378
486
422
23 191
7,514
6 559
'523
432
25001
8,302
7280
'542
480
23,328
7,642
6 700
'501
441
23931
7,546
6 616
500
430
25743
8,477
7438
555
484
24023
7,842
6 914
'482
446
r
30,205
r
r
r
3,812
r
4,007
2504
1,174
2346
1,122
2667
1426
109 594
51,455
8759
24360
7,852
58 139
20,783
15,640
12 196
9,537
112 288
51856
9 143
24024
7947
60432
22,782
17074
12087
9924
39,719
2 175
'303
3 108
320
26434 r28 030
8,837 10,448
7 757 r9 127
610
551
r
711
529
36611
16,196
14059
1085
1.052
'3,994
r
57,212 '57,775
10
079 10222
r
8252 '8369
714
2724
1392
S-ll
SURVEY OF CURRENT BUSINESS
March 1981
1979
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS
1981
1980
1980
Annual
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
DOMESTIC TRADE—Continued
RETAIL TRADE— Continued
Firms with 11 or more stores—Continued
Estimated sales (unadjusted)—Continued
Nondurable goods stores—Continued
Food stores
Grocery stores
mil $
do....
Apparel and accessory stores #
Women's clothing, specialty stores,
furriers
Family clothing stores
Shoe stores
102 496
101,270
9 126
9016
8 890
8775
9 761
9653
9003
8897
9608
9497
9 898
9788
9209
9 105
9940
9832
r
9 764
r
r
14,285
15,210
890
861
1 117
1 196
1068
1404
1227
1354
5876
3,455
3420
6 209
3,659
3707
350
204
243
354
198
219
464
244
300
491
264
332
503
282
297
450
270
269
467
259
242
554
347
345
496
282
325
555
325
332
do
do....
15 165
13,720
17006
15,708
1 214
1,150
1 204
1,140
1 388
1,174
1 398
1,211
1 457
1,286
1 409
1,237
1 493
1,260
1 567
1,292
1 427
1,233
Apparel and accessory stores .. .
Women's clothing, spec, stores, furriers.,
Shoe stores
Drug stores and proprietary stores
1200
1 107
do....
do
do
do. ..
do
26268
296
7352
565
8808
25799
292
7 205
540
8724
26056
270
7 158
531
9007
do
do....
do
do....
1245
510
318
1246
1228
504
298
1234
1 188
497
300
1215
40387
11,391
28996
38960
10990
27970
37935
10730
27205
36953
10454
26499
36 566
10914
25652
36220
10832
25388
36157
10973
25 184
36 046
11 138
24 908
do....
do....
12,268
28,119
11744
27,216
11683
26,252
11458
25,495
11 493
25073
11250
24,970
11371
24786
11426
24,620
do
do....
do. ..
37437
11,194
26243
38070
11 463
26607
38063
11,321
26742
37452
10,888
26564
37 108
11066
26042
36 434
10763
25671
36526
10*790
25736
36972
10,938
26034
(2)
do....
do....
11,743
25,694
11956
26,114
11913
26,150
11413
26,039
11375
25,733
10929
25.505
11256
25,270
11716
25,256
(2)
All retail stores, accts, receivable, end of yr. or mo.:
Total (unadjusted)
mil $
Durable goods stores
do....
Nondurable goods stores
do. .
Charge accounts
Installment accounts
8607
8497
do....
Estimated sales (sea. adj.), total #
Auto and home supply stores ....
Department stores
Variety stores
Grocery stores
Total (seasonally adjusted)
Durable goods stores
Nondurable goods stores
8 756
8658
mil $
do....
do
Eating places
Drug stores and proprietary stores
Charge accounts
Installment accounts
113 202
111851
25983
285
6978
548
9 150
1 221
530
305
1245
26 198
289
7 280
552
9047
1 234
507
311
1294
26443
273
7 166
547
9229
1222
500
298
1290
26823
298
7 246
546
9 440
1 263
531
303
1317
27 444
298
7 528
*558
9484
1 312
513
319
1324
27235
301
7 355
545
9 584
1 237
505
304
1342
9653
!468
2318
'595
r
359
r
343
930
625
460
1 502 r1 447
1,297
l,330
27806
295
7 657
566
9 630
10640
10480
r
28r177
294
r
7861
562
r
9 615
1 295 1r 300
519
528
r
315
315
1361 r!374
1 500
2,098
28486
301
7 695
552
9962
1 341
542
316
1382
(2)
(2)
(2)
(2)
(*)
(2)
(2)
H
LABOR FORCE, EMPLOYMENT, AND EARNINGS
POPULATION OF THE UNITED STATES
Total, incl. armed forces overseas $
1
mil..
22700
227.64
227 18
22744
22764
22784
22807
22828
22848
22865
22881
LABOR FORCE
Not Seasonally Adjusted
Labor force, total, persons 16 years of age
and over
Armed forces
.
Civilian labor force, total
Employed
Unemployed
thous..
do
do....
do
do...
r
!04,996
2084
102,908
96945
5963
105 269 105 343 105 441 105 505 106 115 108 159 109 095 108 240 106 841 107 536 107 406 106 902 106 796 106 929
106,821
r
2121
2090
2086
2081
2102
2124
2125
2 121
2 119
2 121
2 114
2099
2092
2092
2088
104,719 103 188 103 257 103 351 103 412 104 028 106 067 106 997 106 126 104 720 105 415 105 287 104 778 104 671 104 808
r
97933
98587
96546
96264
97
270
97
545
96128
96
383
97801
97256
98
115
97776
96566
96
709
96
145
r
8543
8425
7043
7448
7233
7486
7482
7464
8011
8410
8291
6846
7318
6805
6993
Seasonally Adjusted H
Civilian labor force total
Participation rate *
Employed total
Employment-population ratio *
Agriculture
Nonagriculture
do
percent..
thous
percentthous..
do....
Unemployed total
do
Long term, 15 weeks and over
do....
Rates (unemployed in each group as percent
of civilian labor force in the group):
All civilian workers
Men, 20 years and over
Women 20 years and over
Both sexes 16-19 years
White
Black and other
Married men spouse present
Married women, spouse present
Women who head families
Occupation:
White-collar workers
Blue-collar workers
...
Industry of last job (nonagricultural):
Private wage and salary workers
Construction
Manufacturing
Durable goods
63.7
59.3
3,297
93,648
1,202
104 208 104 271 104 171 104 427 105 060 104 591 105 020 104 945 104 980 105 167 105 285 105 067 105 543 105 681
63.7
63.6
63.8
63.8
63.8
63.8
63.9
64.1
63.9
63.9
63.8
63.8
63.8
63.8
97708 97 817 97628 97 225 97 116 96780 96999 97 003 97 180 97206 97339 97282 C97 696 97927
r
58.1
58.4
58.2
58.3
58.7
59.0
58.3
58.2
58.3
58.2
58.3
58.5
59.2
59.2
58.5
3,337
3,394
3,281
3,319
3,399
3,210
3,267
3,403
3,340
3,232
3,262
3,352
3,329
3,287
'3,310
r
93,960 94421 94488 94291 93963 93764 93548 93,732 93793 93781 93887 93999 93888 94294 94646
7 202
7 754
7961
7847
7 800
7946
7942
7 944
8021
6 543
6500
6 454
7785
7 811
2,250
2,150
1,777
2,378
2,358
2,295
2,292
2,329
1,686
1,935
1,391
1,599
1,829
1,319
1,299
r
63.8
62
47
58
16 6
54
117
32
5.4
85
63
5.0
58
16 2
55
119
34
5.4
86
69
5.8
62
16 4
6.1
126
4o
5.7
90
76
6.4
65
189
6.8
136
46
6.1
83
75
6.4
64
183
67
135
46
6.0
85
76
6.6
66
187
6.8
139
49
6.1
88
76
6.5
65
188
67
137
48
6.0
90
74
6.6
62
178
6.5
14 1
47
5.7
90
76
6.4
67
185
6.6
142
46
6.0
102
75
64
67
186
66
140
44
5.9
99
74
62
68
178
74
6.0
67
190
73
6.0
65
193
63
132
42
5.8
91
62
4.8
58
16 5
55
119
34
5.3
90
65
140
43
5.8
104
6.7
129
42
C
6.2
105
66
13 1
41
5.8
96
3.3
69
37
100
34
81
34
79
3.4
82
37
96
38
109
37
11 1
3.7
113
37
11 1
3.8
108
39
108
39
107
40
105
3.9
102
3.7
10 1
57
10.2
r
55
5.0
74
14.2
85
r
8.9
62
114
67
6.7
62
109
67
6.5
63
13.1
66
6.5
70
145
79
8.3
80
166
97
10.4
80
156
97
10.9
80
15.8
98
10.7
80
173
93
10.1
78
159
92
10.0
78
146
92
9.5
78
148
89
9.0
77
138
88
9.0
75
13.3
84
C
8.3
75
132
84
8.5
90,652
'74,481
89,630
73,601
89,781
73,489
90,316
73,871
90,761
74,110
90,849
74,293
91,049
74,655
89,820
74,270
90,072
74,706
90,729
74,965
91,332
75,080
91,693
75,302
r
91,846
r
'90,098 "90,147
'73,972 "73,827
r
90,652
'74,481
91,031
74,999
54028
26715
999
4.745
91,186
75,099
54,142
26623
1007
4.659
91,144
74,983
54,045
26476
1,009
4.529
90,951
74,567
53,925
26 121
1012
4.467
90,468
74,195
53,909
25745
1,023
4.436
90,047
73,817
53,803
25422
1,029
4.379
89,867
73,710
53,882
25 163
1,013
4.322
90,142
73,998
54,058
25312
1,013
4,359
90,384
74,275
54,231
25476
1,028
4,404
90,710
74,551
54,394
25,636
1,037
4,442
90,961
74,797
54,515
25811
1,054
4.475
r
91,125
r
74,980
r
54,668
r
'91,499
'75,372
'55,022
'26,042
1,084
'4,608
58
4.1
57
16 1
71
5.9
63
17 7
5.1
*11.3
27
5.1
83
r
EMPLOYMENT f
Employees on payrolls of nonagricultural estab.:
Total, not adjusted for seasonal variation ....thous..
Private sector (excl. government)
do....
89,886
73,966
r
75,494
Seasonally Adjusted t
Total employees, nonagricultural payrolls
Private sector (excl. government)
Nonmanufacturing industries
Goods-producing
Mining
Construction
See footnotes at end of tables.
do....
do....
do....
do
do....
do....
89,886
73,966
r
52,904
r
26 504
960
4,483
r
54,116
r
25 857
1,025
r
4,468
25,892
1,072
'4,508
"91,550
"75,438
"55,066
"25,960
"1,090
"4,500
S-12
SURVEY OF CURRENT BUSINESS
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
hi the 1977 edition of BUSINESS STATISTICS
1979
1981
1980
1980
Annual
March 1981
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
'20,312
'12,160
'688
472
'660
'1,133
'1,608
'2,480
'2,135
'1,868
'701
'415
'8,152
'1,684
'70
'857
'1,291
'693
'1,284
'1,112
210
'711
'240
'65,233
'5,137
20,638
'5,302
'15,336
'5,245
'18,068
'16,145
'2,789
'13,356
'20,350 "20,370
'12,192 P12,198
'693
"692
P
'474
474
'662
"660
'1,135 "1,135
'1,608 "1,611
'2,484 P2,490
'2,150 "2,154
'1,865 "1,866
P
'703
701
P
'418
415
P
'8,158
8,172
'1,679 "1,683
'70
"71
'858
"860
'1,290 "1,290
'694
"695
'1,285 "1,292
1,115 "1,117
'213
"209
713
"714
241
"241
'65,457 "65,590
'5,148 "5,147
'20,782 "20,892
5,310 "5,333
'15,472 "15,559
5,265 "5,275
'18,135 "18,164
'16,127 "16,112
'2,786 "2,753
'13,341 "13,359
Feb.
LABOR FORCE, EMPLOYMENT, AND EARNINGS—Continued
EMPLOYMENT f— Continued
Seasonally Adjusted t
Employees on nonag. payrolls—Continued
Goods-producing—Continued
Manufacturing
thous .
Durable goods
do....
Lumber and wood products
do .
Furniture and fixtures
do....
Stone, clay and glass products
do....
Primary metal industries
do....
Fabricated metal products §
do....
Machinery, except electrical
do....
Electric and electronic equipment @.... do....
Transportation equipment §
do....
Instruments and related products
do .
Miscellaneous manufacturing
do....
Nondurable goods
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
do
do....
do....
do....
do....
do....
do....
do....
do....
do....
do....
Service-producing
. ...
. . do . .
Transportation and public utilities
do....
Wholesale and retail trade
do....
Wholesale trade
do
Retail trade . .
.
do....
Finance, insurance, and real estate
do....
Services ...
..
do....
Government
do
Federal ...
do. ..
State and local
do
Production or nonsupervisory workers on private
nonagric. payrolls, not seas, adjusted
thous..
Manufacturing
do ..
21062
12,772
766
499
710
1,250
1,724
2,482
2,124
2,083
689
446
8290
1,728
70
r
888
1,312
707
1,240
1,111
210
776
248
r
20 365
r
'63 382
5,141
20,269
5204
15,066
4,974
17,078
15920
2,773
13147
8,009
1,683
69
833
1,276
680
1,266
1,103
207
663
229
64,704
5,114
20,506
5,247
15,259
5,167
17,760
16,157
2,893
13,264
19940
11,860
662
456
648
1,059
1,569
2,437
2,083
1,840
697
409
8,080
1,690
67
851
1,296
682
1,266
1,100
208
680
240
64,830
5,129
20,589
5,263
15,326
5,180
17,788
16,144
2,828
13,316
20044
11,955
674
464
655
1,074
1,587
2,452
2,091
1,851
697
410
8,089
1,672
68
851
1,299
686
1,269
1,104
208
692
240
64,908
5,124
20,620
5,280
15,340
5,194
17,861
16,109
2,765
13,344
20157
12,043
677
466
656
1,096
1,595
2,469
2,107
1,873
697
407
8,114
1,682
69
856
1,292
690
1,272
1,105
209
699
240
65,074
5,147
20,641
5,292
15,349
5,214
17,913
16,159
2,788
13,371
20,282
12,146
683
469
661
1,119
1,606
2,475
2,120
1,901
701
411
8,136
1,686
71
856
1,291
692
1,278
1,108
209
705
240
65,150
5,132
20,660
5,297
15,363
5,225
17,969
16,164
2,790
13,374
60,730
14,093
60,349
13,657
60,749
13,947
60,991
14,182
61,086
14,204
61,267 '61,427 '59,916 "59,748
14,260 '14,199 '14,053 "14,065
59,964
18,144
770
3,443
13,931
8,205
538
369
498
832
1,166
1,586
1,320
1,172
415
309
59,888
17,901
757
3,385
13,759
8084
542
359
492
793
1,136
1,561
1,305
1,172
414
310
60,136
18,035
753
3,410
13,872
8,123
553
366
498
822
1,152
1,551
1,309
1,171
415
306
60,363
18,181
766
3,443
13,972
8,212
563
374
505
817
1,170
1,568
1,315
1,181
414
305
5,726
1,143
55
731
1,097
515
711
625
131
518
200
41,820
4,280
17936
4,284
13652
3,898
15704
5,675
1,149
54
721
1,093
509
708
616
132
502
191
41,987
4,260
17984
4,288
13696
3,917
15826
5,749
1,157
52
739
1,107
512
710
615
133
521
203
42,101
4,272
18046
4,297
13749
3,926
15857
5,760
1,140
54
740
1,108
515
714
619
133
533
204
42,182
4,276
18074
4,307
13767
3,930
15902
60,567
18,313
772
3,476
14,065
8,288
566
376
506
838
1,178
1,578
1,323
1,207
414
302
5,777
1,149
54
743
1,104
519
712
619
133
540
204
42,254
4,296
18099
4,317
13782
3,940
15919
60,785 '60,901 '61,228 "61,250
18,461 '18,521 '18,659 "18,595
'804
'796
783
"809
3,499 '3,530 '3,629 "3,526
14,179 '14,195 '14,226 "14,260
8,381 '8,386 '8409 "8424
571
579
'577
"576
'382
378
"383
381
'510
"511
'510
511
'875
860
"877
'873
1,189
1,191 '1,190 "1,194
1,578 '1,575 '1,581 "1,585
1,335 '1,347 '1,358 "1,360
1,238 '1,206 '1,204 "1,212
'418
'417
416
"417
312
305
"309
309
5,798 '5,809 '5,817 "5,836
1,154 '1,152 '1,149 "1,150
55
'54
"54
'54
'745
744
"748
'745
1,104 '1,103 '1,104 "1,103
'524
521
"525
'523
716
'720
"726
'721
'628
623
'624
"634
'137
133
"137
'134
544
'552
'550
"555
204
204
"204
203
42,324 '42,380 '42,569 "42,655
4,281 '4,286 '4,279 "4,274
18106 '18 077 '18 207 "18 287
4,318 '4,325 '4323 "4338
13788 '13 752 '13 884 "13 949
3,947
3,961 '3970 "3975
15990 '16 056 '16 113 "16 119
64563
5,198
20,637
5302
15,335
5,101
17,540
16087
2,826
13261
8231
1,704
68
888
1,316
708
1,274
1,123
157
749
244
64,668
5,202
20,610
5301
15,309
5,115
17,580
16 161
2,886
13275
20642
12,442
689
491
680
1,193
1,678
2,518
2,167
1,885
703
438
8,200
1,690
69
884
1,302
702
1,272
1,123
175
740
243
64,830
5,178
20,531
5286
15,245
5,119
17,618
16,384
3,115
13269
20,286
12,140
654
472
663
1,144
1,620
2,517
2,127
1,819
700
424
8,146
1,691
70
869
1,291
692
1,268
1,120
203
703
239
64,723
5,167
20,487
5,268
15,219
5,137
17,659
16,273
2,960
13,313
20,014
11,947
648
461
647
1,096
1,584
2,476
2,094
1,831
696
414
8,067
1,677
71
843
1,287
685
1,269
1,112
205
681
237
64,625
5,134
20,459
5,245
15,214
5,150
17,652
16,230
2,951
13,279
59,871
14738
54,784
14678
60,106
14,727
60,311
14,466
60,458
14,172
61206
19,471
746
3,814
14,911
8953
629
404
554
948
1,282
1,659
1,414
1,304
421
338
5,958
1 182
53
776
1,117
539
718
639
139
588
207
41,735
4,347
18028
4,332
13696
3,844
15516
61308
19,371
750
3,750
14,871
8967
629
403
553
945
1,286
1,649
1,408
1,336
423
335
5,904
1 177
53
775
1,123
538
719
637
91
584
207
41,937
4,346
18 138
4,348
13790
3,860
15593
61 124 60725
19,181 18,814
750
755
3,509
3,581
14,850 14,550
8686
8961
577
621
401
398
549
530
924
941
1,286
1,252
1,630
1,649
1,400
1,413
1,339
1,220
427
423
335
332
5,889
5,864
1 157
1 169
53
54
775
771
1,126
1,111
537
532
715
717
637
636
88
109
573
582
205
206
41943 41,911
4,345
4,329
18098 18029
4347
4,334
13751 13695
3,869
3,873
15631 15680
60,325
18,438
764
3,488
14,186
8,386
544
380
513
877
1,195
1,622
1,358
1,159
419
319
5,800
1 157
55
756
1,100
522
709
632
131
537
201
41,887
4,314
17975
4,308
13667
3,893
15705
20957
12,715
745
495
705
1,214
1,711
2,529
2,168
2,006
702
440
20,938
12,707
737
494
700
1,209
1,711
2,530
2,176
2,006
705
439
8242
1,713
68
888
1,313
709
1,273
1,121
161
751
245
'64 795
5,155
'20,571
'5281
'15,290
'5,162
'17,736
16 171
'2,867
'13 304
20971
12,681
743
497
705
1,215
1,707
2,532
2,169
1,970
699
444
8290
1,716
67
888
1,305
710
1,269
1,121
214
755
245
64316
5,202
20,529
5278
15,251
5,091
17,462
16032
2,791
13241
60,442
15085
'60,589
'14 281
60442
19,386
721
3,581
15,085
9120
653
407
560
984
1,304
1,632
1,394
1,427
420
340
5,965
1 187
55
774
1,124
536
701
633
137
607
211
41,057
4,304
17818
4,274
13,544
3,774
15,161
'60 589
'18,560
763
'3,516
'14 281
8470
'575
'383
518
'870
1,207
1,601
1,354
'1,228
418
317
'5,811
r
l 156
54
752
'1,109
524
715
627
124
548
203
'42,028
4,302
'18 044
'4,316
'13 728
3,905
'15 777
!2,218
687
474
668
1,133
1,627
r
2,488
'2,127
'1,892
700
422
8147
1,689
69
864
'1,298
694
1,272
1,113
197
711
240
19828
11,819
650
449
641
1,049
1,551
2,448
2,079
1,839
698
415
Seasonally Adjusted t
Production or nonsupervisory workers on private
nonagricultural payrolls "j"
.
thous .
Goods-producing
do....
Mining
.
.
do .
Construction
do....
Manufacturing
. . . do ..
Durable goods
do
Lumber and wood products
do....
Furniture and fixtures
do
Stone, clay, and glass products
do....
Primary metal industries
do....
Fabricated metal products §
do....
Machinery, except electrical
do....
Electric and electronic equipment @.... do....
Transportation equipment §
do....
Instruments and related products
do....
Miscellaneous manufacturing
do....
Nondurable goods
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
Service-producing
Transportation and public utilities
Wholesale and retail trade
Wholesale trade
Retail trade . . .
Finance, insurance, and real estate
Services
.
AVERAGE HOURS PER WEEK t
Seasonally Adjusted
do....
do .
do....
do....
do....
do....
do....
do....
do....
do....
do....
do....
do....
do
do....
do .
do....
do .
Avg. weekly hours per worker on private nonagric.
payrolls: 11 Not seasonally adjusted
hours..
Seasonally adjusted
do....
Mining $
.
.
do
Construction
do....
Manufacturing:
Not seasonally adjusted
do....
Seasonally adjusted
do
Overtime hours
do .
Durable goods
Overtime hours
Lumber and wood products
Furniture and
fixtures
Stone, clay, and glass products
Primary metal industries
See footnotes at end of tables.
do ...
do
do .
do....
do....
do....
35.6
35.3
430
37.0
432
37.0
40.2
39.7
33
408
35
394
38.7
41.5
41.4
28
402
'28
386
38.0
40.8
40.1
35.1
35.6
434
373
35.1
355
432
371
35.2
35.4
434
366
35.3
353
428
367
35.0
35.1
427
36.8
35.3
35.0
432
371
35.3
34.9
419
368
35.3
351
431
365
35.3
35.2
435
374
35.3
353
435
370
35.4
35.4
435
372
35.6
354
'44 1
'37 1
35.0
355
'437
384
"34.9
"352
"428
"359
39.8
403
30
408
35
394
39.2
41.4
40.8
39.8
401
30
406
31
391
39.0
41.2
40.8
39.8
398
31
403
32
387
38.5
40.9
40.7
39.4
398
30
403
30
373
38.5
40.6
40.6
39.3
393
25
397
25
375
37.6
40.3
39.2
39.4
391
24
395
24
376
37.0
40.4
38.8
38.8
390
25
394
24
38 1
36.6
40.2
38.6
39.3
394
27
399
26
389
37.4
40.3
39.2
39.8
396
27
401
27
388
38.0
40.9
40.0
39.8
397
28
401
28
387
38.0
40.9
40.1
40.2
399
29
405
30
393
38.0
41.1
40.9
'40.8
40 1
31
'406
32
394
'38.6
'41.3
'41.4
39.9
404
31
'409
31
'400
'38.8
41.5
41.3
"39.5
"398
"29
"402
"29
"38 3
"38.7
"40.8
"40.7
S-13
SURVEY OF CURRENT BUSINESS
March 1981
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS
1979
1980
Jan.
Annual
1981
1980
Feb.
Mar.
Apr.
May
June
July
Aug.
Oct.
Sept.
Nov.
Dec.
Jan.
Feb.
LABOR FORCE, EMPLOYMENT, AND EARNINGS—Continued
AVERAGE HOURS PER WEEK t—Cont.
Seasonally Adjusted —Continued
Average weekly hours per worker—Cont.
Manufacturing— Continued
Durable goods—Continued
Fabricated metal products §
hoursMachinery except electrical
do
Electric and electronic equipment @
do....
Transportation equipment §
do....
Instruments and related products
do....
Miscellaneous manufacturing
do....
Nondurable goods
...
.
Overtime hours
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
Transportation and public utilities $
Wholesale and retail trade
Wholesale trade
Retail trade
Finance, insurance, and real estate $
Services .
do
do....
do....
do....
do
do....
do....
do....
do....
do....
do....
do....
do....
do
do....
do
do....
do
407
418
40.3
41.1
40.8
38.&
393
31
39.9
380
404
r
35.3
42.6
375
41.9
43.8
40.5
36.5
39.9
326
388
306
36.2
327
40 4
41 1
39.8
40.6
40.5
38.7
390
28
39.7
r
382
r
401
35.4
42.3
37 1
41.5
r
41.7
40.0
36.7
39.6
32 l
385
r
302
36.2
326
409
416
40.5
40.9
41.4
39.2
395
31
39.8
385
415
36.0
43.0
378
42.0
36.9
40.7
37.2
39.5
326
389
306
36.2
327
408
41 5
40.3
40.8
40.9
39.1
394
29
39.7
379
41 1
35.9
42.9
374
41.9
40.7
40.0
37.2
39.4
324
388
304
36.3
327
407
41 3
40.0
40.4
40.4
38.6
39 0
30
39.3
377
40 8
35.3
42.6
372
41.8
39.7
39.9
36.9
39.5
323
385
30 3
36.3
327
408
41 5
39.9
40.5
40.7
38.5
39 1
30
39.6
382
40 3
35.8
42.5
372
41.5
41.1
40.1
37.3
39.5
320
385
300
36.2
326
399
41 0
39.5
39.7
40.3
38.3
389
26
39.9
382
39 7
35.3
41.7
37 1
41.3
42.5
39.3
36.7
39.3
32 1
386
30 1
36.1
325
397
40 7
39.2
39.5
40.4
38.2
386
25
39.6
373
391
35.2
41.4
368
41.1
42.3
39.2
36.7
39.6
31 9
380
300
36.4
326
396
406
39.0
39.6
40.1
38.3
385
26
39.7
385
388
35.1
41.4
369
40.8
42.2
39.0
36.1
39.9
31 8
380
298
36.2
326
401
408
39.4
40.9
40.1
38.6
38 7
28
39.8
373
392
35.1
41.8
371
41.0
42.2
40.2
36.5
39.7
320
382
30 1
36.3
326
404
409
39!5
40.6
40.1
38.9
388
27
39.7
375
39 7
35.1
42.2
369
41.3
42.7
40.1
36.2
39.7
32 1
385
30 1
36.1
325
404
40 7
39.9
40.8
40.2
38.7
390
28
39.6
395
399
35.3
42.2
37 1
41.4
43.1
40.4
36.5
39.8
322
385
302
36.3
326
406
41 0
40.0
41.4
40.5
38.6
390
29
39.8
389
400
35.0
42.6
368
41.7
43.2
40.8
36.2
39.7
322
386
302
36.3
327
'406
41 0
'40.2
'41.3
'40.5
'39.0
393
30
39.8
'372
'40 3
'35.6
'43.0
374
41.7
'43.2
'40.9
'36.6
'40.0
32 1
387
300
36.3
326
'407
'41 3
40.4
'42.2
'40.9
'39.0
396
31
40.3
'396
'404
'35.9
'43.3
'377
'41.6
43.4
'41.5
'37.0
'39.2
'32 2
388
'30 2
'36.2
'326
169.04
13843
2 15
892
4394
10.69
34.29
9.38
2907
3061
169.87
13824
232
867
4217
10.63
34.50
9.74
3020
31 63
171.61
14031
229
917
4393
10.85
34.70
960
2976
31 30
171.41
140 16
228
9 13
4381
1074
34.66
9.63
2991
31 25
170.93
13976
230
890
4360
1077
34.51
971
2998
31 17
170.49
13836
228
852
4284
1071
34.39
965
2998
32 13
169.27
137 24
228
852
4180
1063
34.37
966
2997
32 03
168.42
13636
232
856
4105
1051
34.15
977
3001
32 05
167.63
135 57
223
834
4059
10.54
33.98
9.71
30 17
3206
168.44
13660
229
832
4098
1050
34.44
976
3032
31 84
169.07
13764
234
862
41 31
1056
34.56
979
3046
31 43
169.78
13826
231
857
4165
1065
34.74
985
3048
31 52
170.22
139 13
240
866
4208
1060
34.83
989
3067
31 09
171.21
13946
250
8 73
4236
1056
34.66
991
3074
31 75
172.87
141 00
256
924
4275
1068
35.16
989
3073
31 87
124.5
1037
!650
1263
976
988
95.9
1390
r
l!3.2
130.9
133.5
1299
150.8
1589
127.1
1101
1620
1377
1034
1060
997
1389
1140
132.6
1354
1315
148.2
1564
126.9
1091
1621
1347
1028
1058
98.4
1392
113.7
132.7
135.6
1315
149.3
1572
126.0
1073
1629
1269
101 8
1050
973
1390
1139
131.8
1345
1307
149.6
1576
124.8
1052
161 7
1247
998
1016
972
1383
1135
130.4
134 1
1289
149.4
1576
123.4
1022
163 2
1243
96 1
966
954
1381
1126
130.3
1337
1290
149.7
1574
122.5
1003
1664
1237
938
940
935
1379
1126
129.1
1308
1285
151.2
1578
121.9
985
1587
1206
925
924
92.5
1382
1128
128.9
1310
1280
151.1
1591
123.0
1000
1624
1205
942
94 1
943
1390
1126
130.4
1319
1298
151.8
1594
123.8
1016
1667
1247
952
956
94.7
1392
1127
130.9
1333
1300
151.1
1593
124.5
1023
1680
1245
96 1
966
954
1399
1135
131.4
1336
1306
152.4
1600
125.2
1037
1704
1260
97 4
985
95.8
1402
112.8
131.6
134.0
1306
152.6
1612
125.5
'1044
'1756
'1268
'980
'989
'967
'1402
'1138
'130.9
'1345
1294
153.2
'161 4
126.6
'1064
'1758
'1349
'990
'999
'976
'1407
'1114
132.5
'1348
'1315
'153.1
1619
6.66
6.42
888
949
696
671
739
7.12
6.21
527
7.06
9.30
709
7.66
6.67
8.81
6.57
6.28
6 28
6.06
6.61
7.08
4.90
4.44
7.49
724
7.97
946
6.25
445
8.55
5.34
668
478
5.53
5.65
6.46
890
961
700
675
7 46
7.19
6.33
5 32
7.14
9.44
7 14
769
6.71
8.86
6.59
5.30
627
6.06
6.64
7.36
490
4.45
7.52
7.29
8.01
9.37
6.25
4.47
8.58
5.36
672
4.78
5.60
5.70
651
895
968
706
6 81
754
726
6.35
537
7.27
9.45
7 24
776
6.78
9.04
6.63
5.34
630
6.08
6.68
7.57
492
4.49
7.55
7.34
8.05
9.29
6.27
4.51
8.62
5.40
683
4.81
5.68
5.75
653
9 10
969
709
6 85
7 56
731
6.28
539
7.34
9.53
7 27
781
6.79
9.04
6.63
5.37
636
6.15
675
7.79
491
4.46
7.63
7.34
8.12
9.83
6.30
4.52
8.71
5.40
687
4.80
5.68
5.75
657
908
9 77
7 13
6 91
760
738
6.40
542
7.45
9.61
7 32
791
6.78
9.06
6.72
5.40
642
6.22
6.82
7.64
4.90
4.45
7.65
7.44
8.17
10.07
6.34
4.53
8.72
5.42
689
4.82
5.70
5.79
6.61
916
981
720
6 98
769
746
6.56
549
7.53
9.65
7 42
797
6.87
9.24
6.80
5.42
6 48
6.28
684
7.97
493
4.51
7.79
7.46
8.24
10.22
6.39
4.54
8.75
5.43
695
4.83
5.77
5.81
6.64
908
991
729
707
777
755
6.72
5 52
7.60
9.82
742
805
6.96
9.34
6.86
5.46
660
6^38
689
8.06
506
4.50
7.97
7.56
8.35
10.25
6.48
4.54
8.90
5.48
699
4.88
5.77
5.79
668
9 18
1005
730
705
7 78
753
6.76
554
7.64
9.84
748
807
7.02
9.35
6.86
5.46
662
6.39
690
7.74
5 19
4.60
7.99
7.63
8.39
10.22
6.57
4.59
8.95
5.48
701
4.89
5.82
5.81
680
932
10 19
743
716
793
766
6.80
558
7.69
9.97
762
828
7.14
9.56
6.92
5.51
669
6.44
6.93
7.42
5.24
4.70
8.06
7.73
8.46
10.33
6.63
461
9.04
5.56
708
4.95
5.87
5.93
686
937
10 25
749
723
802
774
6.76
559
7.74
10.09
768
836
7.20
9.77
6.95
5.55
6 72
6.48
6.95
7.56
5.26
4.73
8.09
7.75
8.52
10.39
6.70
464
9.20
5.59
7 10
4.98
5.91
6.00
6.93
951
1025
7.59
732
8 13
7.83
6.79
562
7.82
10.28
7 75
8.44
7.29
9.89
7.02
5.60
6 80
6.55
7.09
7.74
5.30
4.75
8.18
7.79
8.59
10.52
6.79
4.68
9.28
5.64
720
5.02
6.01
6.10
'694
'958
1035
769
'740
8 24
'792
r
6.77
'569
7.83
'10.35
'786
'857
7.39
'10.11
'7.14
5.72
686
'6.61
'7.13
'8.00
'533
'4.81
8.28
'7.88
'8.68
'10.37
'6.89
r
4.73
9.31
'5.61
724
'4.99
6.00
'6.12
703
'978
'1042
'772
'745
'824
r
796
'6.82
'572
'7.86
10.35
'7 86
'859
'7.42
'9.96
'7.20
5.81
'694
6.69
7.21
'8.44
'5.34
'4.89
'8.27
7.91
'8.71
'11.02
'6.95
'4.85
9.34
5.79
'731
'5.17
6.12
'6.21
r
P
404
P
409
"39.6
"40.6
40.1
"39.1
P
393
P
30
P
40.0
P
393
P
40 0
P
35.5
P
P
43.1
P
37 4
P
41.6
P
43.4
P
40.3
P
37.3
P
39.4
P
322
P
38
6
P
30 2
P
36.4
P
32 6
AGGREGATE EMPLOYEE-HOURS t
Seasonally Adjusted
Employee-hours, wage & salary workers in nonagric. establish, for 1 week in the month,
seas adj. at annual rate
bil. hours..
Total private sector
do
Mining
do.. .
Construction
do
Manufacturing
do....
Transportation and public utilities
do....
Wholesale and retail trade
do....
Finance, insurance, and real estate
do....
Services
do .
Government
do
Indexes of employee-hours (aggregate weekly): 1J
Private nonagric. payrolls, total
1967 = 100..
Goods-producing
do....
Mining
do
Construction
do....
Manufacturing
do
Durable goods
do.. .
Nondurable goods
do....
Service-producing
do .
Transportation and public utilities
do....
Wholesale and retail trade
do....
Wholesale trade
do....
Retail trade .
do
Finance, insurance, and real estate
do....
Services
do.
HOURLY AND WEEKLY EARNINGS t
Average hourly earnings per worker: fl
Not seasonally adjusted:
Private nonagric. payrolls
dollars..
Mining
do. .
Construction
do
Manufacturing
do
Excluding overtime
do
Durable goods
do
Excluding overtime
do....
Lumber and wood products
do....
Furniture and fixtures
do
Stone, clay, and glass products
do....
Primary metal industries
do....
Fabricated metal products §
do
Machinery, except electrical
do....
Electric and electronic equipment @ do....
Transportation equipment §
do....
Instruments and related products .... do....
Miscellaneous manufacturing
do....
Nondurable goods
do
Excluding overtime
do....
Food and kindred products
do....
Tobacco manufactures
do....
Textile mill products
do....
Apparel and other textile products .. do....
Paper and allied products
do....
Printing and publishing
do....
Chemicals and allied products
do....
Petroleum and coal products
do....
Rubber and plastics products, nee .... do....
Leather and leather products
do....
Transportation and public utilities
do....
Wholesale and retail trade
do....
Wholesale trade . . . .
.
do
Retail trade
do....
Finance, insurance, and real estate
do....
Services
do....
See footnotes at end of tables.
125.6
1094
1550
128 1
1045
108 1
99.2
1368
114.0
131.1
133.4
1301
145.7
1528
6.16
850
927
669
643
7 13
683
6.08
506
6.85
8.97
684
7.32
6.32
8.54
6.17
5.03
600
5.78
6.27
6.65
466
4.23
7.13
6.95
7.60
9.36
5.96
422
8.17
5.06
639
4.53
5.27
5.36
r
r
918
r
993
727
7 02
776
750
6.56
548
7.51
'9.77
r
743
8.04
'6.96
'9.35
'6.80
'5.45
6 53
6.31
'6.86
'7.69
507
4.57
7.85
7.54
8.29
'10.09
6.49
457
8.88
'5.48
'697
4.88
5.78
5.85
P
125.7
P
1036
"1732
P
1226
P
978
P
982
P
97
1
P
141 0
"111
9
P
132.8
P
1346
P
132
1
P
154.1
"1620
P
704
P
984
1034
P
772
P
7 46
P
825
P
7 96
P
6.85
P
5 77
P
7.86
P
10.44
P
7 90
P
861
P
7.39
P
9.89
P
7.22
P
5.81
P
694
P
6.70
P
7.22
P
8.35
P
5.33
P
4.89
P
8.28
P
7.94
P
8.75
P
11.18
P
6.94
P
4.86
P
9.38
P
5.81
P
735
P
5.18
P
6.21
P
6.28
P
SURVEY OF CURRENT BUSINESS
S-14
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS
1979
March 1981
1981
1980
1980
Annual
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Nov.
Oct.
Dec.
Jan.
Feb.
LABOR FORCE, EMPLOYMENT, AND EARNINGS—Continued
HOURLY AND WEEKLY EARNINGS t— Cont.
Average hourly earnings per worker—Cont.
Seasonally adjusted:
Private nonagricultural payrolls
dollarsMining
do...
Construction
do
Manufacturing
do .
Transportation and public utilities
do....
Wholesale and retail trade
do
Finance, insurance, and real estate
do....
Services
. .
. do
6.16
8.50
927
6.69
8.17
5.06
5.27
5.36
Indexes of avg. hourly earnings, seas, adj.: U
Private nonfarm economy:
Current dollars
1967-100..
1967 dollars $
do
Mining
do....
Construction
do
Manufacturing
do.. .
Transportation and public utilities
do
Wholesale and retail trade
do....
Finance, insurance, and real estate
do....
Services .
do.. .
Hourly wages, not seasonally adjusted:
Construction wages, 20 cities (ENR): §
Common labor
$ per hr
Skilled labor
do.
Farm (U.S.) wage rates, hired workers, by
method of pay:
All workers including piece-rate
$ per hr
Workers receiving cash wages only
do
Railroad wages (average class I)
do
Avg. weekly earnings per worker,
private nonfarm: fl
Current dollars seasonally adjusted
1967 dollars seasonally adjusted $
Spendable earnings (worker with 3 dependents):
Current dollars seasonally adjusted
1967 dollars seasonally adjusted $
Current dollars, not seasonally adjusted:
Private nonfarm total
.
. . . . dollars.
Mining
do
Construction
do. .
Manufacturing
do
Durable goods
do. ..
Nondurable goods
do
Transportation and public utilities
do....
Wholesale and retail trade
do....
Wholesale trade
do....
Retail trade
do
Finance, insurance and real estate
do....
Services
do
Federal employees, insured unemployment,
average weekly
thous
Veterans' program (UCX):
Initial claims . . . .
do
Insured unemployment avg weekly
do
Beneficiaries, average weekly
do
Benefits paid
mil $
Railroad program:
Applications
thous.
Insured unemployment avg weekly
do
Benefits paid
mil. $.
See footnotes at end of tables.
993
727
r
8.88
548
5.78
585
251.3
6.41
8.88
946
6.93
8.55
528
5.53
560
6.45
8.90
964
699
8.58
531
5.60
564
6.51
895
975
706
8.62
537
5.68
572
6.54
9.10
979
7.11
8.71
5.38
5.68
5.72
6.57
9.08
983
7.15
8.72
5.42
5.70
5.78
6.62
9.16
989
7.22
8.75
5.45
5.77
5.86
6.67
9.08
994
7.30
8.90
5.50
5.77
5.87
6.71
9.18
1004
7.36
8.95
5.53
5.82
5.91
6.77
9.32
10.05
7.42
9.04
5.56
5.87
5.93
6.83
9.37
10.14
7.49
9.20
5.59
5.91
5.99
6.91
9.51
10.21
7.58
9.26
5.66
6.01
6.08
242.4
1022
278.5
2298
247.8
2624
235.2
221.1
239.7
245.2
1020
280.9
2322
250.2
2659
237.8
225.7
242.7
246.2
1014
283.7
2330
252.4
2672
238.0
224.9
243.0
248.3
101.4
284.2
2342
255.0
268.7
239.8
226.3
245.7
250.9
101.5
286.3
235.3
258.3
270.6
241.8
230.2
248.4
252.1
102.0
285.3
236.7
260.6
272.8
243.5
229.0
247.6
254.0
102.0
288.9
239.0
262.4
273.2
245.3
232.7
249.8
255.4
101.5
290.4
239.3
264.5
274.0
246.5
233.1
251.7
257.9
101.4
294.4
241.6
266.6
280.2
247.7
234.8
254.2
260.9
101.5
298.7
243.0
268.9
283.4
250.9
239.3
258.5
1125
14.82
1127
14.82
1127
14.82
1134
14.91
1159
15.20
11.83
15.49
12.02
15.70
12.17
15.79
12.25
15.91
12.28
15.95
951
952
354
349
3.74
362
10.11
10.28
10.31
3.85
373
3.92
383
10.25
10.49
10.49
229.8
1059
263.9
2220
234.7
2493
223.8
209.6
227,8
287.6
2363
258.5
r
2719
242.6
229.5
r
248.2
240.3
1027
277.0
2258
245.2
2608
234.2
218.4
237.7
1078
1422
1173
1842
1122
1478
339
3 34
358
3 41
893
366
3 59
382
3 67
993
369
365
391
365
945
965
957
361
3 56
377
360
955
234
90
r
95 10
r
!019
r
'6.95
r
9.58
10.32
7.63
9.31
r
5.67
6.00
'6.10
7.02
'9.78
10.39
'7.68
9.34
5.72
6.12
'6.15
"7.03
P
9.84
"10.37
P
7.71
"9.38
P
5.76
"6.21
P
6.21
261.9
100.7
302.3
245.3
r
270.4
r
284.1
r
250.9
r
238.0
r
259.4
'264.2
100.9
'306.6
'247.7
'272.3
'285.9
254.1
240.9
'261.2
P
12.29
16.04
12.28
16.07
r
r
r
r
22820
9744
22898
9653
230.45
9590
230.86
9520
230.61
9428
231.70
9388
232.78
94.24
235.52
9462
238.30
94.68
241.10
94.81
244.61
95.10
245.68
94.57
249.21
95.19
19440
8934
r
206
25
r
83 51
201 17
8590
20176
8506
20287
84 42
203 18
83 79
20299
8299
20382
8259
204.64
8285
20672
8305
208.83
8297
210.95
8295
213.62
8306
214.43
8254
215.81
82.43
21930
36550
34299
26894
290.90
23580
325.98
164.96
r
247.93
13862
190.77
17527
r
235 10
r
396 58
r
367.41
r
288 62
r
311.95
25467
351.65
175.91
r
268.35
147 38
r
209.24
190 71
225.34
38539
335.00
27701
297.82
24492
337.73
170.35
259.85
20019
200.19
18363
226.75
38448
343.08
27860
300.64
24390
338.05
170.98
260.74
20328
203.28
185.25
229.15
38843
350.42
28099
303.86
24507
340.49
172.80
263.16
206 18
206.18
186.88
228.55
38948
355.62
27935
301.64
246 13
344.05
171.72
263.81
142.56
205.62
186.30
229.95
38772
360.51
28021
301.72
24845
342.70
172.90
265.27
144.12
205.77
187.02
233.33
394.71
371.80
283.68
306.06
25142
346.50
175.39
265.49
146.83
210.03
190.57
234.39
380.45
373.61
282.85
303.81
254.10
355.11
178.10
267.02
149.82
208.87
191.65
237.14
395.66
374.87
286.89
308.87
257.52
355.32
179.20
269.18
151.10
211.27
192.31
240.04
405.42
386.20
295.71
318.79
261.58
358.89
178.48
272.58
149.00
211.91
192.73
242.16
407.60
388.48
298.10
323.21
262.75
366.16
179.44
274.77
149.40
214.53
195.60
244.63
413.69
377.20
305.12
330.89
267.24
368.42
180.48
277.92
150.60
218.16
198.86
'247.06
r
422.48
r
383.99
r
313.75
'341.96
273.03
'372.40
181.76
281.64
152.20
217.80
199.51
158
129
154
151
145
122
112
115
118
117
122
127
134
130
128
4.0
'29
40
2.0
1.1
3.5
21
40
1.5
17
3.8
24
41
1.6
1.6
3.3
22
3.5
1.5
1.2
3.5
23
3.7
1.6
1.3
3.1
21
4.6
1.5
2.3
3.4
21
4.8
1.5
2.5
3.9
24
4.4
1.4
2.2
3.8
21
4.2
1.4
2.0
4.5
25
4.8
2.2
1.7
4.3
26
4.1
1.9
1.4
3.6
2.2
3.7
1.4
1.5
2.7
1.6
3.0
1.1
1.3
2.2
1.2
3.1
0.9
1.6
3.4
1.8
3.5
1.2
1.5
3.9
28
41
1.9
1.3
3.9
28
40
1.9
1.3
3.6
2.5
43
1.9
1.5
3.0
2.1
5.3
1.5
2.9
3.0
1.8
5.7
1.4
3.5
3.3
1.8
5.1
1.4
2.9
3.4
1.9
3.8
1.3
1.7
3.6
1.9
3.9
1.3
1.9
3.8
2.1
3.5
1.3
1.5
3.8
2.1
3.4
1.3
1.4
3.6
2.1
3.3
1.4
1.2
3.6
2.2
3.3
1.5
1.1
3.5
2.2
3.5
1.5
1.2
r
2,592
3,808
3,740
3,730
3,652
3,627
3,680
3,790
4,140
3,911
3,961
3,660
3,726
4,085
4,623
25412
3*350
2837
3537
1818
3,518
1705
3,356
2 192
3,278
2248
3343
2319
3,455
2737
3,692
1828
3,408
1702
3,087
1808
2,903
1673
2,983
2544
3,321
3,845
3.0
2.9
2033
86129
2844
14 584 9
3.9
4.1
41
32
34
31
3136
3 048
2993
12839 12299 12182
3.8
37
2884
12322
r
4.0
4.3
3.9
3.6
3.9
3.3
3.4
3.8
45
44
44
38
47
43
41
35
2 796
2962
3 130
3026 r2656
2488
2381
2738
1 1968 12136 13975 12444 1 144 9 1 1254 1055 1 12430
287.1
"255.4
P
244.0
P
264.2
P
12.28
P
16.07
246.05 P245.70
'427.39 PP421.15
'378.25 P357.76
'308.03 304.94
'332.90 PP329.18
'271.35 P269.27
'366.13 P369.57
182.96 184.18
'281.44 PP280.77
152.52 153.33
'221.54 "226.04
'201.20 P203.47
20
160
r
2433
r
265.6
P
307.5
P
246.2
P
273.3
P
4.12
404
4.36
4.09
21953
10081
HELP- WANTED ADVERTISING
Seasonally adjusted index
1967 — 100
LABOR TURNOVER
Manufacturing establishments:
Unadjusted for seasonal variation:
Accession rate, total
mo. rate per 100 employeesNew hires
do
Separation rate, total
do
Quit
do....
Layoff
do .
Seasonally adjusted:
Accession rate, total
do....
New hires . . . .
.
do
Separation rate total
do
Quit
do....
Layoff
. .
do ...
UNEMPLOYMENT INSURANCE
Unemployment insurance programs:
Insured unemployment, all programs, average
weekly # @
thous..
State programs (excl. extended duration prov.):
Initial claims
thous
Insured unemployment avg. weekly
. do
Percent of covered employment: @ @
Unadjusted
Seasonally adjusted
Beneficiaries average weekly
thous
Benefits paid @
mil $
6.66
r
9.18
r
4.4
34
28
29
34
32
30
25
22
20
26
25
29
32
35
37
41
282
52
52
2875
267
55
56
2948
25
60
65
296
21
58
61
254
21
63
59
249
21
52
56
245
20
50
50
220
23
45
29
118
27
58
72
333
23
55
58
246
25
56
56
248
23
56
55
259
17
54
54
210
21
55
58
270
57
107
18
82.5
162
34
176 1
22
38
150
7
36
146
5
29
139
4
28
130
6
25
10.0
24
25
10.1
44
35
13.3
13
37
17.3
10
40
18.8
9
35
17.8
7
36
14.3
11
41
18.0
51
S-15
SURVEY OF CURRENT BUSINESS
March 1981
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS
1979
Annual
1981
1980
1980
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Oct.
Sept.
Nov.
Dec.
Jan.
Feb.
LABOR FORCE, EMPLOYMENT, AND EARNINGS—Continued
WORK STOPPAGES
Industrial disputes:
Number of stoppages:
Beginning in month or year
Workers involved in stoppages:
Beginning in month or year
Days idle during month or year
4800
4500
352
354
396
425
505
435
491
409
438
360
1 700
33 000
1500
32000
207
3 142
114
3 025
123
2 705
116
2 786
139
2464
164
2 553
270
4030
64
3363
163
3 169
94
2 638
number
thous
do
284
66
253
54
1 244
18
617
50
614
FINANCE
BANKING
Open market paper outstanding, end of period:
Bankers' acceptances
mil $
Commercial and financial co. paper, total
do..
Financial companies
do
Dealer placed
do
Directly placed
do..
Nonfinancial companies . . . .
do
45321
111*094
82279
17663
64616
28815
Agricultural loans and discounts outstanding of
agencies supervised by the Farm Credit Adm.:
Total, end of period
mil $
Farm mortgage loans:
Federal land banks
do
Loans to cooperatives
do....
Other loans and discounts
do .
Federal Reserve banks, condition, end of period:
Assets, total #
mil $
Reserve bank credit outstanding, total # .. do....
Time loans
do
U.S. Government securities
do....
Gold certificate account
do
Liabilities, total #
58496
68648
59928
61 105
62658
63969
64 362
64632
65654
66239
66 975
67 966
68 324
68648
31284
8,091
19 122
38 138
9506
21005
31880
8783
19264
32502
9091
19513
33315
9 196
20 147
34 202
9046
20722
34996
8*264
21 102
35579
7584
21469
36 107
8033
21514
36470
8388
21381
36 843
8902
21 230
37 260
9988
20718
37612
10*261
20 451
38 138
9506
21 005
162 947
135,092
1454
117,458
11 112
do
162 947
do
do
do....
35708
29520
113,355
All member banks of Federal Reserve System,
averages of daily figures:
Reserves held, total
mil $ .
Required
do
Excess
do. ..
Borrowings from Federal Reserve banks
do....
Free reserves
do
M3 972
*43 578
Deposits, total
Member-bank reserve balances
Federal Reserve notes in circulation
Large commercial banks reporting to Federal Reserve System, Wed. nearest end of yr. or mo.:
Deposits: $
Demand, adjusted §
mil $
54 744 47780 50 269 49317 50 177 52 636 54 356 54 334 54 486 55 774 56 610 55 226 54 744
123*063 117 809 118 867 119036 122 473 121 707 124 170 121 365 120 299 120 932 123 095 126 048 123 063
87708 85 103 83 848 82581 85 177 83 478 81 787 81533 82 191 82408 85 707 87 832 87 708
19945 18 490 18052 18 390 18973 18*451 18 257 17 667 18 445 18*654 19443 20 169 19945
67763 66613 65796 64 191 66204 65*027 63530 63866 63746 63754 66*264 67*663 67 763
35355 32706 35019 36 455 37 296 38229 42383 39 832 38 108 38 524 37388 38 216 35 355
1,473
i 997
171 495 157 208 156 569 158 198 165 649 164 467 165 627 160 556 162 860 167 788
137,644 129,965 130,141 131,303 135,544 136,950 138,182 132,648 134,462 134,437
215
1 809
602
2 502
3364
828
982
1 515
562
4 770
121,328 116,311 115,171 116,657 118,825 124,277 124,515 119,563 119,848 120,711
11 161 11 172 11 172 11 172 11 172 11 172 11 172 11 172 11 172 11 168
171 495 157 208 156 569 158 198 165 649 164 467 165 627 160 556 162 860 167 788
164 067 169 041 171 495 161 467 161 824
135,029 139,576 137,644 129,492 129,152
1 809 1 304 1 249
1 567 2284
121,482 120,812 121,328 117,169 117,621
11 163 11 162 11 161 11 159 11 156
164 067 169 041 171 495 161 467 161 824
31546 35202 35325 35385 39044 38 445 38834 32810 33 141 33071 33 088 34 809 31 546 30 747 29 777
27 456 31 232 31 725 31 870 32927 31*804 33 187 27 548 29338 28 146 30*518 31*528 27 456 26621 26 734
124,241 108,927 109,170 110,597 111,524 113*118 114,502 115,654 116,925 117,144 118*248 121,191 124,241 118,147 118,854
1
45 170
44 928
242
1,617
1,241
i i 471
924
40 097
140 067
43 156 43352
42966 42 907
*445
190
2,828
1,655
1 369 2231
44877
44 683
194
2,455
2 106
43968
43 785
*183
1,028
782
43479
43268
211
380
157
42859
42575
284
395
104
40373
40 071
302
659
-347
41 164 41815
40908 41 498
*317
256
1,335
1,311
951
1 029
41 678 40 097 41 514
40 723 40 067 41*022
955
492
30
1,617
2,156
1,405
793
1 102 1 471
39 650
39 448
202
1,278
928
95 658
122 610
119 584 108 454 103 241 110 613 104 700 100 692 110 723 107 393 108 966 112 467 108 156 111 706 119 584 100 185
Demand, total #
Individuals partnerships and corp
State and local governments
U.S. Government
. .
Domestic commercial banks
do. .
do
do....
do
do ...
219 155
155 734
5,942
863
35,975
Time total # . . .
Individuals, partnerships, and corp.:
Savings . . .
Other time
do
267 415
228 967 189 871 185 763 201 657 201 144 194911 208 631 187 725 204 290 208 621 191 810 207 817 228 967
158 722 132 164 128
528 139 544 134 331 132 409 141 960 131 371 142 783 145 288 135 213 143 831 158 722
5,297 r4,678
5,933
4,887
5,975
4,760
5,933
4,804
4,658
5,135
4,962
5,008
4,581
776 r 1823
1088
1 015 1 031
817
1 811 1 061
2424
972
1 088
2964
787
41710 31664 32*018 34760 37598 35489 39637 30413 36559 37552 34457 36804 41710
r
313 750 270 607 272 771 276 175 278011 278 736 276 789 273 708 281 420 285 113 289 376 300 970 313 750
do
do
72313
205 805
433 583
174,751
9,979
25,988
111 665
135 983
73 162 r72 586 71 208 68 456 69 686
164 339 166 705 171 839 176 018 175 623
398 074 MOO 779 405 960 399 389 392 482
161,830 160,909 157,567
157,908 159,977
7,653
8,738
9,470
8,394 r8,768
24,818 r25,700 27,531 25,033 23,498
101 612 102 530 103 209 104 285 104 914
128 363 125 438 127 517 125 596 124 174
185 566 183 252
127 940 123 777
4,714
4,846
1 676 1 579
34 044 35230
320 947 320 996
73 377 74 574 75 905 76 664 76042 74 946 72313 74 382 75 072
172 887 168 630 174*167 177 063 181 124 193*269 205 805 210*718 209 948
Loans (adjusted) total §$
Commercial and industrial
For purchasing or carrying securities
To nonbank financial institutions
Real estate loans
Other loans
do
do....
do....
do....
do
do
74604
159 958
402 310
159,321
10,275
26,559
99959
137 906
Investments total $
U.S. Government securities, total
Investment account *
Other securities
do
do....
do...
do
108 114
36089
31214
72025
745 106 659 109 824 110923 112 548 113 702 115 851 114 866 114 236 116 520 118 036 117 337 118 190
118 036 108 770 108
39539 35838 rr35 602 34673 35281 35568 36958 38*141 40283 38706 37674 39409 39539 39777 40816
35242 30594 r30 480 29 377 29 360 30 755 32861 33 232 34 833 34 382 33 897 34 422 35242 33 438 33 726
78497 72932 73 143 71 986 74 543 75 355 75590 75561 75 568 76 160 76 562 77 111 78 497 77 560 77 374
Commercial bank credit, seas, adj.: t
Total loans and securities
fl
U.S. Treasury securities
Other securities .
Total loans and leases H
bil. $..
do....
do
do....
1,132.5
93.8
191 5
847.2
1,234.1
109.6
214 3
910.1
1,144.8
93.2
193 1
858.5
1,162.7
94.8
195 2
872.7
1,165.2
945
1960
874.7
1,161.0
93.2
196 2
871.6
1,154.9
94.6
199 7
860.6
1,152.0
97.0
201 5
853.5
1,160.0
1009
204 2
855.0
1,177.2
104.4
207 0
865.8
1,191.0
1066
2080
876.4
1,204.5
107.9
886.2
1,221.2
109.3
2125
899.4
396 202
159,557
7,865
22,961
105 217
127 158
392 491
158,038
6,465
23,133
105 925
120 007
403 128
161,390
6,924
23,462
106 894
128 526
410 632
166,261
7,644
24,281
108 246
128 393
412 556
166,168
7,084
24,024
109 464
126 159
424 173
172,266
8,960
24,842
110 728
133 629
433 583
174,751
9,979
25,988
111 665
135 983
425 949
171*414
7,746
25,253
112866
131 059
1,234.1
109.6
214 3
r
910.1
1,250.8
1127
216 5
921.5
423 216
169,482
8,182
24,875
113 681
131 875
Money and interest rates:
Discount rate (N.Y.F.R. Bank), end of year or
month
percent..
Federal intermediate credit bank loans
do....
Home mortgage rates (conventional 1st
mortgages):
New home purchase (U S avg )
Existing home purchase (U.S. avg.)
percent
do....
See footnotes at end of tables.
12.00
13.00
12.94
11.40
10.87
10.00
10.17
11.00
11.47
12.87
13.00
13.00
11.47
12.52
11.83
13.00
12.22
12.20
13.12
13.54
13.12
12.59
12.03
11.82
11.50
11.53
11.90
12.29
12.93
2
1048
2
2
1225
2
11 48
11.78
11 60
12.30
12 25
12.56
1264
13.21
13 26
13.74
1224
12.88
1208
12.23
11 84
11.89
11 95
12.00
1220
12.31
1262
12.85
1286
13.15
1280
13.24
13 02
13.70
3
11.04
3
10.91
3
3
12.78
3
12.29
3
1401
13.60
12.39
17.10
16.50
14.70
15.63
14.93
13.68
960
9.29
9.01
8.31
8.03
7.42
8.58
8.29
8.03
9.85
9.61
9.08
11 13
11.04
10.29
1269
12.32
11.15
15.34
14.73
13.07
17.96
16.49
14.78
4
11.28
13 15
12.66
11.79
16.62
15.10
14.09
15.54
14.87
14.05
11. 506
12.036
12.814
15.526
14.003
9.150
6.995
8.126
9.259
10.321
11.580
13.888
15.661
14.724
14.905
12.00
10.09
10.66
Open market rates, New York City:
Bankers' acceptances, 90 days
do....
Commercial paper, 6-month $$
do....
Finance co. paper placed directly, 6-mo @ do....
Yield on U.S. Government securities (taxable):
3-month bills (rate on new issue)
percent..
12.87
2
2
12.58
10.25
3
10.041
3
S-16
SURVEY OF CURRENT BUSINESS
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS
1979
1980
1980
Annual
March 1981
Jan.
Feb.
Mar.
Apr.
May
1981
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
FINANCE—Continued
CONSUMER INSTALLMENT CREDIT f
Total extended and liquidated:
Unadjusted:
Extended
mil $
Liquidated
do..,.
Seasonally adjusted:
Extended total #
do
By major holder:
Commercial banks
do
Finance companies
do.. .
Credit unions
do
Retailers
do
By major credit type:
Automobile
do.. .
Revolving
do
Mobile home . .
do.. .
Liquidated total #
By major holder:
324 777
286,396
305 887
304,477
do
Finance companies
Credit unions
Retailers
By major credit type:
Automobile
Revolving
Mobile home
.. . do.. .
do
do.. .
Revolving
23576
24,439
24902
25925
23583
24878
22775
24818
22988
24,378
24984
25,530
27391
25,481
26907
25,744
28 136
27,840
24918
24,088
31052
25669
23145
26027
27923
27581
25881
23220
22093
22349
23997
26,176
27,064
27365
25,991
27149
27059
12322
5,471
3483
4368
12780
5,755
2444
4096
11395
5,574
2428
4 108
10227
4,801
1862
3845
9785
4,320
1575
4072
9892
4,439
1318
4 186
10098
4,809
2,305
4 148
11,107
5,155
3,085
4263
11671
5,355
2,752
4596
11977
5,323
2.872
4291
11,432
4,852
2,795
4250
11484
5,185
3035
4497
10397
5,904
2994
4673
8,441
10500
522
25 196
7,973
10756
452
25 178
7,372
10634
435
25227
5,922
10347
397
24891
5,533
10302
299
24770
5,550
10341
424
24394
6,068
10,679
377
25,196
7,400
10700
415
25,687
7,518
11 143
442
26009
7,544
11 124
513
26663
7,117
10,953
424
25,152
7,234
11614
479
25530
7,237
11483
383
26190
11779
4,458
2745
4,061
11748
4,360
2798
4,084
11658
4,436
2703
4,201
11948
3,973
2597
4,124
11721
4,074
2561
4,118
11675
3,695
2616
4,118
11,847
4,370
2,575
4,059
11,789
4,768
2,620
4,103
11936
4,742
2,716
4,140
12313
4,869
2,809
4,157
11,552
4,258
2,577
4,198
11760
4,325
2,657
4,181
11754
4,791
2706
4,264
do....
312,024
7,045
7,434
6,574
6,576
6,785
7,343
6,872
6,932
6991
7,300
6903
6859
6565
9,971 10,034 10,373 10,677 10,589 10,436 10,641 10,419 10,665 10,851 10,688 10,998 10,926
349
366
382
399
400
413
407
363
372
383
418
397
380
313,435 311,012 310,149 309,127 307,831 305,788 304,399 303,853 305,763 306,926 307,222 308,051 313,435 310,554
do.. .
do
do....
do
154 177
68318
46517
28119
145,765 153,636 153,308 152,347 150,937 149,238 147,883 146,555 146,548 146,362 145,895 145,147 145,765 143,749
76756 68724 69545 70421 71545 72 101 73,118 73,909 74,433 74,823 74,985 75,690 76,756 77 131
44,041 46,466 45,964 45,730 44,954 44,139 42,995 42,644 43,347 43,562 43,518 43,606 44,041 43,601
29410 27216 26252 25495 25,073 24,970 24,786 24,620 24,918 25,301 25,703 26,469 29,410 28,300
do
116 362
56937
16838
116 327 116 719 117 202 117 642 117 502 117 058 116 456 116,125 116 868 116 781 116 657 116517 116327 115 262
59,862 56,256 55269 54,269 53,690 53,225 53,042 53,036 53,771 54,406 54,598 55,304 59,862 58,985
17327 16832 16875 16944 16974 16912 16988 17,004 17,068 17,113 17276 17,293 17327 17244
do
do....
do
Total outstanding, end of year or month #
By major holder:
Commercial banks
Finance companies
Credit unions
Retailers
By major credit type:
24675
25687
FEDERAL GOVERNMENT FINANCE
Budget receipts and outlays:
Receipts (net)
Outlays (net)
.
Budget surplus or deficit (—)
Budget financing total
Borrowing from the public
Reduction in cash balances
mil $ '465 940 1'520 050
. . . . do.. . *493 221 579,011
i_27 281 '-58961
do
1
27 281 '58 961
do
do.... '33,641 '70,515
'-6360 '-11 554
do
1333 751 1914 317
'644 589 '715 105
do
Held by the public
Budget receipts by source and outlays by agency:
Receipts (net) total
mil $
'465
940
1
217 841
'65 677
Corporation income taxes (net)
do
Social insurance taxes and contributions
(net)
mil $ '141 591
MO 832
Other
do
1493 221
Outlays total #
do
Agriculture Department .
....
do. . 1 '20,634
H5013
Defense Department military
do
Health and Human Services
Department §
mil $ '181 186
*64 596
'4187
National Aeronautics and Space Adm
do
1
19 887
LIFE INSURANCE
Institute of Life Insurance:
43228
29.72
Government securities
do
208.75
Corporate securities
do....
11842
10624
Nonfarm
.
do.
1301
Real estate
do
3482
Cash
do
267
Other assets
do. ..
24.89
Life Insurance Agency Management Association:
Insurance written (new paid-for insurance):
Value estimated total
mil. $.. 488,803
323 640
Ordinary (incl mass-marketed ord )
do
Group
do ... 159 998
5.165
Industrial
do....
See footnotes at end of tables.
43429 37862 33351 61097 36071 59055 37,348 44,259 53544 38923 39,175 48903
47,988 47208 46,566 51,237 50,198 46,702 52,409 50,755 47,289 56,304 48,049 56,202
6255 -17 382 -8874 -7299
-4559 -9346 -13 215
9860 -14 127 12353 -15,062 -6,496
8,874
6,496 -6,255 17,382
7,299
4559
9346 13215 -9860 14127 -12,353 15,062
5,350 -4,615
9,737 11,111
9,231 13,668
6,260
4,758
5,201
2,066 11,802
4,632
8777 -7,738
5,325 -4,615 -12,515 12,624
-357 -6,369
-642
7280
1413 -14,492
854 741 861603 870 444 876 914 884 788 884 381 888 367 900 075 914 317 914 782 920 316 936 686
668 762 670 827 682 630 687,260 692611 687,997 697,734 708,844 715,105 719,862 729,094 742,761
43429
26856
2237
37862
15522
1420
33351
9056
9*508
61097
31488
9171
36071
9275
1*230
59055
27791
15804
37,348
19773
2,136
44,259
19527
1,367
53,544
26936
8,884
38923
21 150
1,284
39175
20851
1003
48,903
23725
9,387
'160 747 10775
'50 634
3560
'579 Oil 47988
'24,555
3,785
1
132 840 10955
16857
4064
47208
2,054
10940
11499
3287
46566
1,732
11460
15886
4552
51237
1,901
11357
20787
4780
50 198
2,089
11273
10,793
4667
46,702
2,632
11,582
10,253
5 188
52,409
1,195
11,439
18,546
4816
50,755
1,374
11,402
12,860
4864
47,289
1,340
11,345
11,283
5205
56305
1,785
12,705
13,242
4078
48,049
1,829
11,601
11,078
4714
56,202
3,415
12,281
1
'520
050
1
244 069
'64 600
194 691
»76 642
'4850
'21 135
16888
5164
417
800
17041
5353
408
2772
16 572
5677
416
743
17667
7,584
398
2004
16447
5928
397
2792
15368
9,900
452
630
17 455
6,815
423
17 153
5,016
19017
7,286
16918
5,625
1,713
17992
5,164
456
2,655
425
717
19,132
10,944
499
3,028
476 19
32.53
226.97
131 14
118.30
1525
41 46
279
26.04
436 23
2993
212.78
11988
107.68
1308
35 30
158
23.66
43864
30.16
213.70
12093
108.65
1320
3584
140
23.41
43973
30.36
211.40
12231
10991
1351
36 90
123
24.02
44293
30.30
212.35
12359
111.10
1370
38 17
084
24.00
44702
30.32
213.77
12456
111.96
1398
3889
105
24.45
45086
30.13
215.14
12546
112.77
14.08
3935
1.61
25.08
45576
30.66
218.72
126.46
113.78
14.16
3965
1.79
24.31
45936
30.86
220.45
12736
114.65
14 18
3992
165
24.94
46448
31.10
223.40
12809
115.36
14.46
4026
166
25.51
468.06
31.34
225.73
128.98
116.21
14.70
4055
1.46
25.30
473.53
31.72
228.63
129.88
117.08
15.18
4088
1.50
25.73
476.19
32.53
226.97
131.14
118.30
15.25
4146
2.79
26.04
535,778
364 388
168,054
3.336
38,601
24623
13,666
312
37,062
26384
10,354
324
45,747
29885
15,501
361
41,526
31057
10,122
347
41,164
30198
10,661
305
46,183
30,607
15,301
276
42,409
29813
12,336
260
44,293
28801
15,212
280
43,925
30,059
13,589
277
46,169
33604
12,337
228
41,633
30211
11,237
184
67,066
39 146
27,738
182
356
744
479
2,857
Feb.
S-17
SURVEY OF CURRENT BUSINESS
March 1981
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS
1979
1980
Jan.
Annual
1981
1980
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
FINANCE—CONTINUED
MONETARY STATISTICS
Gold and silver:
Gold:
Monetary stock U.S (end of period) .. . mil. $
11 172
11 160 11 172 11 172 11 172 11 172 11 172 11 172 11 172
3
o
22
Net release from earmark §
do
294
204
29
20
31
30
Exports
thous. $.. 4 907 865 3 647 932 282 237 161 531 473 255 671 189 280 138 252 317 102 151
Imports
do
1 480 203 2 750 120 254 927 261 649 153 063 248 835 211 651 95483 202 081
Production:
South Africa
mil. $.
955
1
916 1
111
764
756
747
78 1
768
806
X
Canada
do
459
53
51
56
57
57
55
58
Silver:
Exports
thous. $.. 471,162 1 909,733 298 433 345 301 253 438 489 037 81991 140 458 57527
Imports ..
.
.
do
961 761 1 602 717 258 547 174 301 195 889 91538 63927 108 250 99031
Price at New York
dol. per fine oz..
11.094
20.632 38257 35085 24 133 14*500 12*533 15748 16059
Production:
United States
thous. fine oz..
27397
33602
3508
2046
2986
4424
2379
2846
1311
Currency in circulation (end of period)
bil $
1256
1372
121 4
1283
1212
1229
125 7
127 1
124 0
Money stock measures and components (averages
of daily figures): t
Measures (not seasonally adjusted): $
Ml-A
bil. $
3600
3764
3653
3754
366 1
3700
3615
3697
3755
Ml-B
do
3745
3983
3930
383 2
3975
3846
3896
380 5
3902
M2
do.
14690
16021 1 5381 15396 15514 15586 15608 15894 16180
M3.
do
17043
1 864 4 1 791 9 1 7975 1 810 7 1 818 1 1 821 7 1 845 6 1 8708
L (M3 plus other liquid assets)
do.... 2,057.6
2,260.1 2,172.6 2,185.9 2,204.5 2,221.3 2,224.1 2,241.0 2,259.6
Components (not seasonally adjusted):
Currency
do
1023
111 8
1066
1068
112 7
1099
111 2
1079
108 7
Demand deposits
do.
2576
2647
2688
2585
2627
2613
2586
2582
2515
Other checkable deposits $$
do....
14.6
21.8
17.7
17.9
18.4
19.5
19.0
20.4
22.0
Overnight RP's and Eurodollars *
do....
27.1
28.5
27.0
28.3
26.3
23.3
24.6
29.1
22.1
Money market mutual funds
do....
26.9
69.8
49.1
56.7
60.9
60.4
66.8
74.2
80.6
Savings deposits
do..
4462
3985
4098
4009
3936
3769
3869
4010
3818
Small time deposits @
do
7101
5970
6620
6734
6890
7079
7164
7166
7129
Large time deposits @
do.. .
2046
2303
223,5
2276
2304
2304
2319
2262
2217
Measures (seasonally adjusted): $
3729
Ml-A
.
.
. d o
3706
3735
3671
3709
3735
366 7
Ml-B
do.. .
3883
3914
3861
3955
3914
3863
3913
M2
do
15347 15476 1 5546 1 5504 1 563 7 1 587 6 1 6125
M3
do..
17866 18054 18130 18119 18257 18462 18677
L (M3 plus other liquid assets)
do
2 1660 2 1885 2 2038 2213 3 2 2298 22427 22582
Components (seasonally adjusted):
Currency
do
108 1
1073
1089
1090
1102
111 0
112 1
Demand deposits
do.
2654
2633
2569
2614
2640
2577
2599
Savings deposits
do
4124
4040
375 2
3846
3980
3933
379 4
Small time deposits @
do.. .
6609
6702
7053
7158
7124
6857
7153
232 4
Large time deposits @
do
2216
2274
2286
2295
2331
2240
PROFITS AND DIVIDENDS (QTRLY.)
Manufacturing corps. (Fed. Trade Comm.):
Net profit after taxes, all industries
Food and kindred products
Textile mill products
Paper and allied products
Chemicals and allied products
11 172 11 168 11 163 11 162 11 160 11 159
9
1
3
38
18
72
225 620 177 515 421 774 312 274 287 932 343 344
162 535 540 145 330 988 157 531 131 231 200 324
768
760
60
74.7
55
773
56
71.4
65526 29012 33453 40921 74637 56582
85967 135 031 129 450 138 053 122 734 132 996
15897 20144 20181 18648 16393 14752
1607
3277
2577
3034
3607
2820
1297
1299
131 1
134 1
1372
131 1
r
3773
3826
3880
391 1 3947
3773
3582
4005
407 2
4137
417 7 r 421 8 r 4207
4094
16295 16423 r 16569 16657 rl 674 8 rl 684 8 16852
1 8866 1 9023 r l 923 1 1 942 1 l 962 8 l 984 0 1 9862
2,278.6 '2*296^2 2,318.0 2,344.7 2,375.0
113 7
2636
23.2
31.6
80.7
4088
711 1
2233
113 7
2689
24.6
33.0
78.2
4124
7149
2265
1166
2745
26.6
32.6
77.0
4058
7359
2400
1149
273 1
25.7
32.5
77.4
4129
7237
r
2307
1185
2762
27.1
32.1
75.8
'3909
'757 4
2515
1135
2660
408 1
7126
223 3
1139
2695
412 1
7164
2268
98,698
7340
1,340
3723
10,896
24707
1697
314
795
3 160
22379
1821
232
803
2777
20961
2085
198
679
2779
Petroleum and coal products
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 $
21,936
2,373
2,691
2185
7200
237
959
814
6621
480
766
529
5759
602
396
218
4431
1 167
936
877
Machinery (except electrical)
Elec, machinery, equip., and supplies
do. ..
do....
11530
7,386
2563
1,830
2886
1,728
2650
1,712
Transportation equipment (except motor
vehicles etc.)
mil. $..
Motor vehicles and equipment
do
All other manufacturing industries
do....
3,189
4382
15,314
785
217
3403
8779
815
1 341
3326
8934
751
1632
3887
8925
115 1
2712
414 2
7236
229 8
1158
2726
4079
7416
2388
Dividends paid (cash), all industries
do....
32,491
SECURITIES ISSUED
Securities and Exchange Commission:
Estimated gross proceeds, total
By type of security:
Bonds and notes, corporate
mil. $.
57,626
7 165
4484
6827
5784
9262
10672
8155
5493
5237
6053
4015
do....
40,781
2,882
3,294
4882
7 133
8813
6780
4 139
3 114
3065
2153
1508
88
2757
525
679
223
1802
202
981
382
1 014
360
1 123
131
1717
406
2084
484
1516
256
1164
2684
'3936
'7632
2480
1166
2562
'377 1
'7780
'2588
2479
1793
do
do
8709
3525
5281
1089
297
mil $
do....
do
do....
53015
11,552
3192
13,687
6667
1,817
530
1873
4478
1,340
321
1,212
6576
3,391
265
1631
5784
1,777
469
891
9 137
2888
455
1478
10 176
2445
422
1807
8 154
3*216
207
1,050
5 393
1810
235
1444
5237
1025
583
1474
5633
1498
244
1 154
3925
506
264
891
Transportation
Communication
Financial and real estate
do...
do
do
3,294
4694
12868
472
483
1074
315
572
350
103
223
759
161
651
1473
285
1 196
2218
394
295
3405
329
787
1382
370
626
703
455
598
759
353
858
1 137
139
276
1,172
State and municipal issues (Bond Buyer):
Long-term
Short-term
do
do.
42261
20897
47 133
26,485
2916
1405
2555
2097
2365
1*796
4 579
4*405
4773
1*975
6004
2098
4725
2621
3918
2375
4226
2379
'4391
1775
r
2943
2,197
'3738
'1363
mil. $
11619
14721
11,987
12,638
11914
11309
11441
11370
11,522
12007
12731
13293
14,363
14721
1 105
4.060
2 105
6.070
1,180
4.680
1,320
4.755
1365
5.000
1290
4.790
1270
4.750
1345
4.790
1,665
4.905
1695
4.925
1850
5.680
1950
5.500
2120
5.590
2105
6.070
By type of issuer:
Corporate total #
Manufacturing
Extractive (mining)
Public utility
r
SECURITY MARKETS
Stock Market Customer Financing
Margin credit at brokers, end of year
or month
Free credit balances at brokers:
Margin accounts
Cash accounts
See footnotes at end of tables.
do..
do....
115 8
'2615
43.3
'32.6
80.7
'3747
'7793
'2607
1159
2423
51.2
31.8
92.4
3640
7908
263 1
3834
3863
3884
3848
3660
3795
3728
4120
4150
4027
4080
4119
4161
4172
1 6325 1 644 4 16565 16708 '1
673
4
'1
681
3
1
6922
18895 1*904 6 19218 1946 1 rl 957 9 rl 978 7 19932
2 2827 2 306 5 '2 319 1 23465 2373 5
mil. $..
do.
do....
. . do.
do....
Common stock
Preferred stock
730
1173
2488
3668
787 1
263 2
S-18
SURVEY OF CURRENT BUSINESS
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS
1979
1980
1980
Annual
March 1981
Jan.
Feb.
Mar.
Apr.
May
June
1981
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
FINANCE—Continued
SECURITY MARKETS—Continued
Bonds
Prices:
Standard & Poor's Corporation:
High grade corporate:
Si.!
Composite §
dol. per $100 bond
73.4
Domestic municipal (15 bonds)
do....
Sales:
New York Stock Exchange, exclusive of some
stopped sales face value total
mil $ 4 087 89
Yields:
Domestic corporate (Moody's)
By rating:
Aaa
Aa
A
Baa
By group:
Industrials
Public utilities
Railroads
Domestic municipal:
Bond Buyer (20 bonds)
Standard & Poor's Corp. (15 bonds)
44.0
66.2
37.8
60.2
37.3
53.5
410
58.0
45.7
65.1
47.4
63.3
45.5
59.9
42.1
56.3
41.1
54.3
39.7
53.4
37.8
50.9
37.2
48.1
38.0
50.4
361
48.4
5 190 30
41158
43178
42252
40620
41295
41184
40089
367.58
37304
414.73
427.57
70963
353.06
324 18
percent..
10.12
12.75
11.74
12.92
13.73
13.21
12.11
11.64
11.77
12.33
12.80
13.07
13.63
14.04
13.80
14.22
do ...
do
do....
do
9.63
994
10.20
1069
11.94
1250
12.89
1367
11.09
1156
11.88
1242
12.38
1273
12.99
1357
12.96
1351
13.97
1445
12.04
1306
13.55
14.19
10.99
1191
12.35
13.17
10.58
1139
11.89
1271
11.07
1143
11.95
12.65
11.64
12.09
12.44
13.15
12.02
12.52
12.97
13.70
12.31
12.68
13.05
14.23
12.97
13.34
13.59
14.64
13.21
13.78
14.03
15.14
12.81
13.52
13.83
15.03
13.35
13.89
14.27
15.37
do....
do
do
9.85
10.39
960
12.35
13.15
1148
11.35
12.12
1068
12.35
13.48
1106
13.11
1433
11 43
12.93
13.50
1163
12.04
12.17
1154
11.41
11.87
1126
11.43
12.12
1128
11.84
12.82
1136
12.31
13.29
1156
12.60
13.53
1172
13.20
14.07
1202
13.60
14.48
1222
13.37
14.22
12.42
13.60
14.84
12.61
do
do....
653
6.39
8.74
8.73
8.51
10.81
7.52
7.21
10.03
872
8.04
11.55
944
9.09
11.87
7.96
8.40
10.83
7.73
7.37
9.82
7.88
7.60
9.40
8.59
8.08
9.83
8.85
8.62
10.53
9.22
8.95
10.94
9.45
9.11
11.20
9.61
9.55
11.83
9.76
10.09
11.89
9.91
9.65
11.65
10.27
10.03
12.23
29346
844.40
10456
23783
32823
891.41
11043
307.23
307 16
860.74
108 13
263.83
32070
878.22
11064
290.40
29182
803.56
10203
259.76
285 15
786.33
10580
244.40
299 10
828.19
109.00
257.35
31478
869.86
112.81
274.76
331 17
909.79
113.91
299.78
34277
947.33
110.38
317.91
348.16
946.67
111.44
333.91
35644
949.17
11234
357.32
37314
971.08
11443
393.29
36840
945.96
11423
394.05
371.59
962.13
113.51
394.64
365.26
945.50
108.86
392.60
10301
114.83
115.27
83.82
5040
1453
51.74
12.33
44.48
104.86
119.06
11878
134.52
131.37
86.88
5054
18.52
75.57
12.50
44.00
102.90
127.06
110.87
124.72
126.68
85.09
10469
118.73
116.20
75.50
4540
15.62
63.39
10.73
38.46
87.69
110.23
10297
115.57
110.20
76.93
4837
14.68
59.46
11.56
41.09
97.54
120.70
107.69
120.80
113.46
82.81
It9.83
135.23
129.26
88.98
5282
17.97
70.79
13.05
46.06
107.86
130.35
123.50
140.18
136.55
93.62
51 18
18.83
73.90
130.22
148.36
145.07
92.76
51.49
21.77
90.82
13.04
43.27
103.65
134.80
133.48
152.19
149.78
90.30
5166
24.55
106.74
132.97
151.06
147.23
94.61
52.01
24.25
102.31
13.04
45.81
105.24
133.87
51 10
19.85
80.64
13.38
45.86
107.15
140.97
135.65
155.08
153.68
92.28
5208
24.65
106.28
128.40
145.70
143.14
94.45
5063
15.27
61.12
12.20
44.54
103.52
121.37
114.55
128.80
122.14
85.76
5248
16.27
65.44
12.87
46.30
106.05
127.07
126.51
143.73
142.10
95.41
5026
15.51
58.64
12.64
44.57
105.74
129.12
11534
130.91
131.27
83.14
4904
17.22
69.61
11.95
42.26
97.02
121.98
12.68
43.19
103.58
128.25
12.89
46.63
109.74
126.00
13.57
48.70
117.50
129.13
49.81
23.64
97.69
13.41
48.18
116.43
126.73
58.32
6475
4734
3820
6142
68.10
7870
6061
3735
6425
63.74
7267
52.61
3708
6422
66.06
7642
57.92
3622
61.84
59.52
6871
51.77
3338
54.71
58.47
6631
48.62
3529
57.32
61.38
6939
51.07
3731
61.47
65.43
7447
54.04
3853
65.16
68.56
7867
59.14
3877
66.76
70.87
82 15
62.48
3818
67.22
73.12
8492
65.89
3877
69.33
75.17
8800
70.76
3844
68.29
78.15
9232
77.23
3835
67.21
76.69
9037
75.74
3784
67.46
76.24
8923
74.43
3853
70.04
73.52
8574
72.76
3759
68.48
545
518
9 19
4.68
547
9 11
526
4.94
977
4.04
575
1060
541
5.11
953
4.69
557
1017
524
4.92
984
4.28
581
1055
587
5.52
1065
4.74
6.57
11.37
605
5.76
10 10
5.01
6.14
11.16
577
5.49
967
4.63
584
10.20
539
5.10
943
4.43
557
978
520
4.90
946
4.02
551
981
506
4.75
971
3.84
554
1004
490
4.59
967
3.60
5.38
10 14
480
4.47
977
3.32
558
1064
463
4.31
965
2.87
574
1135
474
4.42
979
2.99
571
1194
480
4.49
978
3.08
552
1155
1183
299 973
10863
475 934
15500
39,881
1402
45,731
1550
35,704
1,147
26,248
963
28,029
960
33,574 38,611
1 155 1,258
43,795
1,433
41,216
1336
50,641
1,501
43,157
1280
49,347
1515
251 098
8675
397,670
12390
33,942
1091
37,721
1,239
29,164
904
22,320
788
23,402
780
27,996
934
31,949
1,004
35,606
1,122
35,308
1,090
42,873
1,216
36,015
1,016
41,373
1,205
8 156
11352
1 158
957
876
674
765
830
1,022
966
1,058
1032
989
1025
956
816
1,242.80 1,019.05 1,009.13
33.709 30.278 30,383
898.82
30,558
941.84
30.752
U.S. Treasury bonds, taxable $
do....
Stocks
Prices:
Dow-Jones averages (65 stocks)
Industrial (30 stocks)
Public utility (15 stocks)
Transportation (20 stocks)
Standard & Poor's Corporation: §
Combined index (500 Stocks)
1941-43—10
Industrial, total (400 Stocks) #
do....
Capital goods (111 Stocks)
do....
Consumer goods (189 Stocks)
do....
Utilities (40 Stocks)
do
Transportation (20 Stocks)
1970—10.
Railroads (10 Stocks)
1941-43=10..
Financial (40 Stocks)
1970=10..
NewYorkCity banks(6 Stocks) 1941-43=10..
Banks outside N.Y.C. (10 Stocks)
do....
Property-Casualty Insurance (6 Stocks) do....
New York Stock Exchange common stock indexes:
Composite
12/31/65-50.
Industrial
do
Transportation
do
Utility
do
Finance
do
Yields (Standard & Poor's Corp.):
Composite (500 stocks)
percent
Industrials (400 stocks)
do..
Utilities (40 stocks)
do
Transportation (20 stocks)
do ..
Financial (40 stocks) ... .
do
Preferred stocks 10 high-grade
41.4
57.4
do
Sales:
Total on all registered exchanges (SEC):
Market value
mil. $
Shares sold
millions
On New York Stock Exchange:
Market value
mil $
Shares sold (cleared or settled)
millions
New York Stock Exchange:
Exclusive of odd-lot and stopped stock sales
(sales effected)
. .
millions
Shares listed, N.Y. Stock Exchange, end of period:
Market value, all listed shares
bil. $..
Number of shares listed
millions-
960.61
30.033
993.90 1,027.13 1,101.19 1,115.48 1,147.60 1,168.11 1,289.71 1,242.80 1,189.19 1,203.16
31.233 31.893 32,327 32,602 32,804 33,041 33.427 33.709 33.993 34.211
FOREIGN TRADE OF THE UNITED STATES
VALUE OF EXPORTS
Exports (mdse.), incl. reexports, total @
Excl. Dept. of Defense shipments
Seasonally adjusted @ @
By geographic regions:
Africa .
Asia
Australia and Oceania
Europe
Northern North America
Southern North America
South America
See footnotes at end of tables.
mil. $.. 181,815.6 220,704.9 16,360.9 16,970.8 19,685.0 19,146.6 18,770.0 18,674.8 17,213.7 17,946.1 17,829.0 19,948.9 18,614.0 19,545.1 1 17,964.0
do.... 181,650.8 220,548.7 16,343.9 16,958.6 19,671.4 19,134.3 18,764.4 18,674.8 17,177.7 17,938.4 17,800.9 19,936.9 18,609.9 19,537.5 1 17,962.2
17 347 7 17 233.0 18 534 4 18 468 4 17 677 7 18 641 8 18 075 0 19 103 4 18 701 0 19 088.5 18 634 3 19 117 7 48 824 8
do
do
62992
do
48 771 1
do.... 4,318.8
do
60 014 0
do
33 096.7
do.... 14,886.5
do.... 13.569.4
5550
7679
8098
7379
6163
4 046.8 4 721.4 5 1475 49174 48707
362.1
377.1
331.3
371.9
397.4
6214 1 60423 70599 67539 62839
25986 27337 33930 3 1497 30740
1,480.2 1,360.2 1,604.4 1,713.5 1,806.6
1.104.2 1.165.7 1.332.4 1.319.5 1.490.1
7557
7656
7987
7314
5 224.8 4,925.6 5 273.6 4 956.2
424.3
416.8
391.4
431.6
58629 52404 53032 5 1076
30700 24990 26482 30407
1,766.4 1,864.4 1,790.7 1,796.1
1.485.0 1,453.2 1,557.8 1.578.4
8959
8800
5 467.7 50786
589.4
393.6
59656 55891
30782 3 1132
2,123.6 1,910.5
1.646.5 1.529.2
S-19
SURVEY OF CURRENT BUSINESS
March 1981
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
hi the 1977 edition of BUSINESS STATISTICS
1979
1980
Annual
1980
Jan.
Feb.
Mar.
Apr.
May
June
1981
July
Aug.
Sept.
Oct.
Nov.
Jan.
Dec.
FOREIGN TRADE OF THE UNITED STATES—Continued
VALUE OF EXPORTS—Continued
Exports (mdse.), incl. reexports—Continued
By leading countries:
Africa:
Egypt
mil $
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
German Democratic Republic (formerly
E. Germany)
mil. $..
Federal Republic of Germany (formerly
W. Germany)
mil. $..
Italy
do....
Union of Soviet Socialist Republics
do....
United Kingdom
do .
North and South America:
Canada
do....
Latin American republics, total #
do....
Argentina
do....
Brazil ...
do
Chile
do....
Colombia
do....
Mexico
do....
Venezuela
do
Exports of U.S. merchandise, total §
do....
Excluding military grant-aid
do....
Agricultural products, total
do....
Nonagricultural products, total
do....
By commodity groups and principal
commodities:
Food and live animals #
mil. $..
Meats and preparations (incl. poultry) .... do....
Grains and cereal preparations
do....
Beverages and tobacco
do....
Crude materials, inedible, exc. fuels #
do....
Cotton, raw, excl. linters and waste
do....
Soybeans, exc. canned or prepared
do....
Metal ores, concentrates, and scrap
do....
Mineral fuels, lubricants, etc. #
mil. $..
Coal and related products
do....
Petroleum and products
do....
Oils and fats, animal and vegetable
do....
Chemicals . .
do
Manufactured goods #
do
Textiles
do....
Iron and steel
do .
Nonferrous base metals
do....
Machinery and transport equipment,
total
mil. $..
Machinery, total #
do....
Agricultural
do
Metalworking
do
Construction, excav. and mining
do....
Electrical
do. ..
Transport equipment, total
do....
Motor vehicles and parts
do....
Miscellaneous manufactured articles
do....
Commodities not classified
do
VALUE OF IMPORTS
General imports total
do
Seasonally adjusted @
do....
By geographic regions:
Africa
do....
Asia
. do. .
Australia and Oceania
do....
Europe
do....
Northern North America
do
Southern North America
do....
South America
.
do
By leading countries:
Africa:
Egypt . . . .
.
. . . .
do
Republic of South Africa
do....
See footnotes at end of tables.
14333
1,413 0
36494
1,167.0
529 1
932 1
9815
1,570 1
17 579 3
1505
1365
151 0
1337
187 8
1622
1992
1788
1705
1996
127 8
1990
1578
2170
1322
2397
1639
1846
145 1
2414
1529
352.5
3202
3546
3365
314 5
3566
3572
5264
281 3 3128
3082
3296
1542
1240
1221
1182
1938
1184
1322
1890
1452
1756
860
457
380
626
638
410
257
954
71 4
848
549
254
137 3
1047
864
117 5
91 6
850
989
113 1 128 9
110 7
1468
972
759
966
1685
115 7
106 8
1026
1222
1280
3029
1399
2295
1449
1521
1870
1643
1323
1487
1672
1237
1572
1485
1 5258 16506 18098 1 843 1 1599 1 1 787 7 17182 1 751 5 1 6822 1 800 1 1 7930
55867
7170
5866
784 2
639 1
6233
586 1
631 2
537 0
5462
678 1
356.0
17.2
90.8
68.1
64.0
36.8
29.2
21.0
54
250
186
336
8,482.3
4,358.5
3,607.1
10 634 8
962.3
441.2
174.0
947 1
962.6 1 055.2 1 022.6 904.7
964.1
540.4
442.9
466.8
518.0
537.7
1843
130.0
457
1105
510
9848 13034 13485 12860 1 0492
869.2
407.5
434
8707
8070
444.3
354
9070
8152
8718
353.3
3788
499
1512
9273 1 1396
8968
4239
2647
9354
33,095.8
26,256.6
18899
3 441 6
8855
1,409.3
9,847 2
39313
178,578.0
178,413.2
34,745.4
143,832.6
5840
33929
2 739.6
1915
361 2
877
141.1
1 1049
3424
19,315 6
19,302.0
3,687 0
15,628.7
31497
2814.1
1835
321 6
962
119.0
12114
3698
18 814 9
18,802.6
34685
15,346.4
30740
3 079.0
2802
382 7
1045
153.1
12730
3586
18,395 3
18,389.6
32032
15,192.0
30699
3 032.9
2099
3683
1044
1537
12433
406 9
183000
18,300.0
30175
15,282.5
24990
3 087.1
1909
368 3
1366
1464
13394
3857
169034
16,867.3
30197
13,883.7
2648 1
3 1087
2115
4145
1223
1547
12710
4102
17 630 7
17,623.0
32436
14,387.0
30406
3 1414
2590
3828
1170
1385
12622
417 9
17 527 9
17,499.8
32362
14,291.7
22123
1135
1,428.2
3353
2,375.4
389.4
480.3
517.0
5669
299.6
2349
228.1
1 880 4
1 8826
317.1
2378
2481
21348
1030
1,423.3
2247
2,255.2
313.4
544.2
396.2
6305
404.2
2048
210.1
1 7506
2 1608
307.1
2639
2465
19541
104.8
1,199.2
2005
2,186.1
311.4
489.4
430.0
7365
452.1
2497
201.1
1 851 7
1 884 7
295.9
2789
2549
20719
1158
1,289.8
1963
2,032.7
244.5
395.8
448.2
7301
462.1
250 1
134.9
1 861 5
19770
320.0
298 1
2809
22035
1090
1,442.6
1751
1,723.1
190.4
350.8
350.9
7070
415.6
2683
140.5
1 7923
1 724 3
272.6
273 1
2412
23400
962
1,613.1
1798
1,865.0
155.9
434.1
389.6
7029
4809
2046
161.7
1 760 1
1 9469
302.0
294 4
3417
25010 26894
1034
1306
1,657.7 1,710.0
2074
2494
1,535.1 1,776.2
150.4
95.0
313.4
493.6
298.1
325 1
7097
7553
430.0
5028
2277
2381
160.5
145.3
1 6657 1 7659
1 836 1 1 9355
307.5
328.2
2755
2884
2899
2532
26529
1186
1,765.1
2627
1,761.3
181.3
626.6
226.3
7853
4588
2694
131.0
1 4880
1 717 7
314.1
250 1
2199
70,407 3 84 552 9 56129 65407 74445
44,741.0
3,872.8 4,075.1 4,823.9
26355
2945
2346
2081
1 391 4
121 9
97 5
1072
1,233.8
83.2
137.0
118.4
86350
783 3
776 2
9084
1,744.1 2 472.1 26259
25,750.4
15,076.5
1,130.2 1,213.1 1,414.4
12,637.4 16,343.1 1,575.9 1,408.5 1,542.7
833 7
4552
659 7
90303 84195
70154
4,611.6
2833
1386
138.4
8836
24072
1,267.3
1 304.6
1 1158
7 349 6
4,783.7
274 1
1492
150.5
9134
25674
1,214.7
1 340.1
685 1
73029
4,965.8
2902
1629
166.5
896 7
23370
1,235.0
12899
7029
66987
4,646.6
2825
1605
155.5
865 0
20808
992.5
1 246.1
4568
67309
4,761.9
237 1
155 1
137.1
891 6
1972 1
975.8
12957
640 1
70187
4,602.7
2426
1580
146.3
8290
24269
1,186.7
13035
562 1
73728 7531 1 i6 472 0
4,723.7
2363
1639
130.3
8707
2650 1
1,312.0
13240 13115 "12539
747 9
7038 1723 o
22,250 9 27 743 7
1,126.9
14,450.5
2,336 5 26630
20,756.0 23,790.7
2,198.4
5,707.7
3,324.6
5,620 5
79823
3,496.0
28335
1,913 6
1,946.3
1,845.0
17 307 9 20 740 2
16 234 2 22 254 6
3,189.4
23420
1,609.4
2,598.5
2,359.0
1761
2735
770
123.9
9828
2872
16,031 5
16,014.5
3,276.9
12,754.6
2 733.6
2 353.6
1524
2845
857
143.8
9256
3235
16,687 5
16,675.3
3 354.6
13,332.9
20179 20465
88.3
84.2
1,301.9 1,319.2
204 1
1524
2,109.7 2,169.6
351.2
256.1
513.1
606.4
465.0
404.8
4358
4814
214.2
233.5
1869
2193
142.5
139.6
1 617 1 1 537 8
1 647 9 1 7347
277.5
268.6
2193
1780
2023
1712
3078 1
35106
2598
3598
141 4
1582
15424
463 1
19 520 6
19,508.6
36729
15,847 7
79347
5,130.6
251 4
1736
141.9
9973
28125
1 445.9
14006
856 4
31132
32239
2717
361 4
1363
1289
14075
397 6
18 247 6
18,243.5
37964
14,451.2
29194
1
2 752 0
2753 ^221 7
2,001.3 '2,044.0
7409
i(3195
2797 1278 1
151.0 1 123.5
1 7690 *1 681 4
1 8064 il 705 2
206 255 8 240 834 3 20 132 2 20 638 6 21 040 5 19 625 8 20 502 9 20 520 0 19 324 3 18 858 8 19 078 7 20 267 8 19 532 7 21 312 0 122 577 1
20 937 6 21 640 4 20*5885 19 257 2 20 439 4 19 893 1 189954 19 235 6 19 465 0 200605 19 422 4 21 173 9 123 194 3
24,376.5
66 740 4
3,072.0
43,548.2
38 122 3
17,287 8
13 172 5
24210
66421
2957
4,092.6
34634
19165
13069
3 249.3
63979
2572
3,886.0
36316
19142
13020
28704
64586
2697
4,339.8
37516
21263
1 2436
27534
6410 3
2349
4,248.5
32458
17887
9985
3 1706
65468
3038
4,155.2
33492
20673
9999
27994
7 131 1
2907
38859
32559
20026
1 1540
23737
6636 2
2816
4,011.3
3 124 4
18202
10766
27445
6314 1
'2680
37734
2828 1
18194
1 1109
21489
6 721 5
2150
3 808.6
33417
16864
1 1562
25564
6531 5
'2993
39643
39299
19139
1 072 1
22731
62205
3523
3 730.5
37477
18009
1 407 5
3810
2,616.5
210
342.5
817
215.9
961
226.1
575
405.7
338
291.2
445
208.5
38
270.2
41 6
291.9
264
203.8
295
297^5
126
291.8
Feb.
S-20
SURVEY OF CURRENT BUSINESS
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS
1979
1980
Annual
March 1981
1980
Jan.
Feb.
Mar.
Apr.
May
June
1981
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
1,536.0
^eis.o
FOREIGN TRADE OF THE UNITED STATES—Continued
VALUE OF IMPORTS—Continued
General imports—Continued
By leading countries—Continued
Asia; Australia and Oceania:
Australia including New Guinea
India
'
Pakistan
Malaysia
Philippines
mil $
do....
do
do....
do
2809
221.5
204.9
200.1
220.0
172.1
212.1
1564
195.4
2108
2331
77.9
96.8
78.8
103.3
74.9
93.6
115.1
82.3
98.6
111.2
92.2
8.9
9.5
9.8
10.4
10.3
12.8
10.3
10.2
12.1
85
118
234.8
187.6
152.8
192.6
195.5
214.6
230.9
215.8
242.9
201.3
276.8
415.6
255.7
346.8
429.7
440.8
440.3
435.2
417.0
4220
5118
4927
1309
150.5
154 1
1389
1354
1461
1497
1432
1226
1021
149 1
24965 22498 23852 25647 26566 2 677.4 2 613.4 2,541.3 2,642.0 2,568.9 2,591.8
22362
1,037.7
1200
2,145.6
36206
14888
26 242 9
Europe:
47708
France
do
German Democratic Republic (formerly
362
E Germany)
mil $
Federal Republic of Germany (formerly
W Germany
mil $ 10 955 3
Italy
do . . 4 918.1
8724
80287
United Kingdom
do
North and South America:
'
tal #
Argentina
Brazil
Colombia
Mexico
By commodity groups and principal
commodities:
Agricultural products, total
Food and live animals #
Coffee
Meats and preparations
Sugar
Beverages and tobacco
Crude materials, inedible, exc. fuels #
Metal ores
•
Textile
fibers
Rubber
Mineral fuels lubricants etc
Oils and fats animal and vegetable
Chemicals
Manufactured goods $
•
^T
.
Machinery total $
Electrical
A <•
h'l
H
rts
3803
4694
4422
4890
4418
4296
4282
345.8
457.8
47
31
58
26
35
36
30
39
2.8
3.9
2.6
992.4 1,053.5
382.8
360.8
329
35 1
788.0
741.0
933.1
386.5
229
734.3
844.8
297.0
95 3
996.8
861.8
284.9
533
907.0
876.3
332.6
288
743.1
9893
397.3
41 8
782.3
9926 1 1430 1 101 1 1 117.5
401.1
348.2
328.3
379.1
106
222
35 4
19 1
763.1
827.6
830.2
7562
3 463 1 3 631 3 3 7494 3 2452 3348 6 3 2559 3 1208 2825 1 33397 39297 37477
2515 5 26058 2601 6 22103 24683 26173 22826 2 141 0 22618 2419 1 26692
63.5
54.1
105.3
71.0
61.1
54.7
58.2
32.9
54.8
62.4
36.6
433.3
304.1
293.3
323.2
300.0
317.3
303.2
266.3
2776
2684
2943
469
402
507
424
343
314
482
442
527
557
376
92.2
86.1
93.7
69.1
134.8
888
1157
92.1
1400
1093
989
915.0 1,106.6 1,031.4
904.8 1,045.8
968.5 1,159.9 1,184.7
948.9 1 088.4 1,095.8
372.3
449.0
420.5
407.0
422.7
339.3
306 1
3117
4850
5492
5377
38 099 3
24 782 2
587.1
do ..
3 1188
do
4398
12094
do
do. .. 8 813.4
51659
1,649.7
18 489 2
1,466.1
352
477.0
2287
63.6
178.6
882.4
3046
1483
24.2
999
6 558.6
60463
582
696.1
2,916.3
5809
2165
808.0
2038
4 9760
2,519.4
1459
604.4
24634
2*009 5
1 8798
5200
1,367.2
19 271 3
1,203.4
267
311.7
1902
118.7
198.5
892.6
2905
1395
20.9
695
7 741.9
7 1991
327
726.8
2,815.6
6896
2249
663.8
2042
4 741 9
2,400 7
1228
600.7
2341 2
2008 7
1 6683
6168
1,536.2
19 524 2
1,351.0
26.3
311.9
200.8
156.1
212.9
988.7
293.8
1844
22.9
101.1
7,391.7
68376
423
786.2
2,909.9
537 2
2450
804.7
2433
5084 3
2,656.9
1367
679.8
24473
2097 1
18067
466 8
1,458.2
18 222 4
1,278.9
62.0
354.4
154.4
117.4
224.7
867.1
351.2
1414
20.8
561
6,345.9
58332
488
765.3
2,618.1
622 1
2176
585.3
2136
5027 2
2,613.6
1742
630.3
2468 4
20319
18972
5525
1,478.5
19 114 5
1,293.8
45.5
342.3
189.7
123.8
244.0
886.0
307.3
1657
26.9
81.1
6,894.5
6 515 0
30.7
768.4
2,795.8
7416
2445
583.2
2194
5074 1
2,683.2
141.2
683.7
24810
2,024.6
19207
594 9
1,488.5
19 031 5
1,372.8
32.0
373.0
164.0
177.6
223.3
913.7
369.1
147.9
21.5
63.8
6,937.6
6 531.4
41.2
762.4
2,662.1
600 1
236.5
595.9
220.8
5052 3
2,685.5
148.5
686.1
23668
l',993.6
20306
5240
1,439.8
17 884 5
1,335.5
40.8
347.9
213.5
195.0
253.1
857.8
326.1
130.3
19.5
57.6
5,792.3
5,421.2
30.8
705.0
2,447.3
5435
208.5
559.5
192.2
5 1667
2,782.0
161.9
712.0
2 384.6
2,008.1
2 182.5
5534
1,310.9
17 548 0
1,207.2
23.3
302.3
180.1
187.5
227.6
812.4
275.0
150.4
20.9
44.8
6,235.9
5,867.7
30.8
616.9
2,486.1
6292
201.7
508.2
191.5
45657
2*578.0
183.7
647.1
1,987.6
1,663.9
2,143.2
5332
1,219.3
17 859 3
1,121.9
20.0
217.1
152.9
172.2
261.3
837.2
279.8
136.2
11.0
75.6
5,830.5
5,460.4
33.0
641.3
2,412.9
5200
216.0
567.4
194.7
49522
2,621.5
136.8
674.6
2,330.8
2,000.3
2,077.3
911 1
1,410.6
18 857 2
1,304.8
19.2
250.7
246.8
172.4
286.3
830.6
302.4
134.3
16.5
42.7
6,231.0
5,846.1
64.6
745.9
2,629.7
544.8
224.9
688.3
196.1
53333
2,754.5
150.3
729.6
2,578.8
2,210.6
2,104.2
7374
1,529.9
18 002 8
1,441.3
21.0
273.3
199.1
334.1
243.6
856.4
303.0
144.2
17.5
64.7
5,879.6
5,446.1
51.3
650.3
2,641.9
6174
216.5
601.7
204.4
52362
2,733.8
156.7
668.1
2,502.5
2,191.4
1,983.4
5487
255 5
2279
5822
281 0
223 1
627 1
2801
233 1
6529
2803
269.6
7558
2818
261.2
736.2
2797
257.4
720.1
2854
251.1
716.6
290.4
227.5
660.5
293.6
235.1
690.0
294.7
232.5
685.2
300.0
254.7
763.9
308.6
231.5
714.3
310.4
242.3
752.2
3474
2217
7701
4025
2237
9003
4194
2201
923.1
431.0
2187
942.5
430.0
204.9
881.1
432.6
2131
921.9
440.6
208.6
918.9
442.2
195.6
864.7
444.7
189.0
840.3
445.8
190.7
850.1
449.3
201.1
903.5
451.4
193.0
871.4
458.2
207.5
950.5
mil $
357 793
97579
28803
8554
27426
8954
31468
10285
34391
10 162
34042
10071
35716
10282
33978
9,619
36373
10,225
33668
9662
mil. $.
597 495
140,091
44832
13,692
47966
14,404
43967
14,231
39430
13,564
42630
14,532
43584
14,594
36982
13,483
38122
13,328
35812
12,753
16,881.0
189 445 5
do.... 15,169.5
5549
do.... 3,819.7
25393
do
974.3
do....
do.... 2,565.0
do.... 10,652.7
3247 1
do
15467
231.2
do.. .
897 1
do
59 997 9
do
56 046 0
7398
do
do . 74786
do ... 30 064 1
7 4663
2322 1
6*320 1
do
22164
do
53 677 3
28 044 8
do
1 4424
6*588 1
do
25 633 6
do
22 074 6
21 006 3
do
4 9Q4 g
do
mil. $..
17,424.8
15,762.7
2,771.5
10,495.9
79 057.7
5334
8,582.7
32,190.4
J
Nonferrous metals
Textiles
Miscellaneous manufactured articles
Commodities not classified
Indexes
Exports (U.S. mdse., excl. military grant-aid):
Unit value
1967—100
Quantity
do
Value
do
General imports:
Unit value
do
Quantity
do
Value
.
. do .
60 545 7
23 711 0
7 183 3
Shipping Weight and Value
Waterborne trade:
Exports (incl. reexports):
Value
General imports:
Value .5.
?.
See footnotes at end of tables.
378.1
4899
1,385.9 ll,471.0
217.4
871.2
7,218.4
*253.3
'885.9
1
8,OU.2
'50.1
69.0
718.1 1735.8
2,854.7 '2,910.5
53357 '5 615 7
2,017.2
6244
1
2,012.5
1
628.1
Feb.
S-21
SURVEY OF CURRENT BUSINESS
March 1981
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS
1979
Jan.
Annual
1981
1980
1980
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
1345
1385
TRANSPORTATION AND COMMUNICATION
TRANSPORTATION
Air Carriers (Scheduled Service)
Certificated route carriers:
Passenger-miles (revenue) ..
. . .
bil
Passenger-load factor
percent..
Ton-miles (revenue) total . . . .
mil
Operating revenues (quarterly) # § . .. mil $.
Passenger revenues
do
Cargo revenues
do .
Mail revenues
do
Operating expenses (quarterly) §
do
Net income after taxes (quarterly) §
do....
Domestic operations:
Passenger-miles (revenue)
bil
Cargo ton-miles
mil
Mail ton-miles
do...
Operating revenues (quarterly) §
mil. $.
Operating expenses (quarterly) §
do....
Net income after taxes (quarterly) § .. .. do .
International operations:
Passenger-miles (revenue)
Cargo ton-miles
Mail ton-miles
Operating revenues (quarterly) §
Operating expenses (quarterly) §
Net income after taxes (quarterly) §
r
1857
55.1
2415
262
06
r
62.9
33 388
27221
26786
2211
363
27018
403
1999
54.5
2536
r
1587
253
76
15 14
262
73
1801
286
79
6 176
6389
176
1648
268
78
1606
284
78
1819
273
71
6559
6,612
22
1864
281
75
2025
282
75
4.12
179
29
3.43
194
30
405
229
33
1449
1561
-99
404
205
32
4.52
212
33
5.08
210
32
1,592
1676
-94
5.85
214
30
6.76
210
31
744
637
695
641
656
133 1
1403
r
2052
585
2635
2327
63.0
2914
2058
57.4
2665
21646
21,514
283
r
53.57
r
2497
373
5,575
5505
-48
2449
62.9
3050
2639
66.3
3236
8 152
6 844
591
153
8289
116
7624
6373
568
150
7950
-276
209
13
r
3466
852
bil..
mil.
do
mil. $..
do ..
do....
2206
612
2833
1961
55.9
2540
2069
57.7
2629
1786
55.2
2379
1484
1580
1424
4.77
4.25
216
33
362
215
37
681
748
663
681
1472
1473
1535
1526
2990
2996
231.5
3005
610
655
787
718
150
2875
2 167
8926
7555
*590
143
8657
203
273
73
6853
6700
105
203
29
2,073
293
r
81
265
76
1958
94
Urban Transit Systems
Passengers carried total
Motor Carriers
mil.
r8
8 130
Carriers of property, large, class I, qtrly.:
Number of reporting carriers
Operating revenues, total
mil. $..
Net income, after extraordinary and prior period
charges and credits
mil. $..
Tonnage hauled (revenue), common and contract
carrier service
mil. tons..
Freight carried— volume indexes, class I and II
intercity truck tonnage (ATA):
Common and contract carriers of property
(qtrly )
average same period 1967 — 100
Common carriers of general freight,
seas adj
1967—100
Class I Railroads J
See footnotes at end of tables.
mil $
do....
do
do
do....
do
718
8
100
7489
363
8
224
8
96
92
157
1783
1635
1555
25,352
23912
387
24099
'852
3
889
bil
do....
1969—100
Telegraph carriers:
Domestic:
Operating revenues
Operating expenses
Net operating revenues (before taxes)
Overseas, total:
Operating revenues
Operating expenses
Net operating revenues (before taxes)
679
8
180 1
do
do .
do....
Travel
Hotels and motor-hotels:
Restaurant sales index same month 1967 — 100
Hotels: Average room sale
fl
dollars..
Rooms occupied
% of total
Motor-hotels: Average room sale
fl
dollars..
Rooms occupied
% of total
Foreign travel:
U.S. citizens: Arrivals
thous..
Departures
do....
Aliens* Arrivals
do
Departures
do
Passports issued
do.. .
National parks visits @
do
COMMUNICATION
Telephone carriers:
Operating revenues #
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
686
100
18,799
Financial operations, qtrly. (AAR), excl. Amtrak:
Operating revenues, total #
mil. $..
Freight
do
Passenger, excl. Amtrak
do....
Operating expenses
Net railway operating income
Net income (after taxes)
Traffic:
Ton-miles of freight (net) total qtrly
Revenue ton-miles, qtrly. (AAR)
Price index for railroad freight
8228
1597
1507
1393
6,802
6329
98
6404
'270
274
140 1
6,959
6492
107
6,995
6521
117
6662
175
184
6623
222
156
2647
2677
2361
233.1
2698
2797
2797
2308
227.7
2823
2917
2924
144
4527
59
3377
62
169
4652
66
3463
70
188
4677
72
3546
74
177
4904
71
35 13
72
203
48.51
71
35.99
69
277
49.56
75
35.48
74
198
48.19
58
36.70
64
309
4940
48
36.92
55
691
693
798
674
r
250
1 831
626
692
648
530
258
1 846
741
807
851
596
313
2339
728
754
806
692
340
3 289
747
839
906
697
318
4694
820
1056
995
768
329
7 451
946
1035
1272
883
303
10482
172
954
2183
l'l75
'222
10 661
1000
858
200
726
710
883
773
179
6 195
5 250
50 604
21968
22389
33110
9084
155 1
4479
1960
1817
2976
'806
1563
4470
1952
1 769
3000
781
1568
4638
4599
4584
2008
1990
1976
1 882 1 853 1861
3099
3093
3072
828
810
832
1573 1577 1577
4659
1995
1888
3 119
834
1578
4,820
2022
1996
3,167
889
158.0
4831
2030
1987
3228
860
'1583
4825
2059
1959
3305
827
1588
5014
2113
2059
3270
6360
519.2
802
551
45.2
70
556
443
83
577
44.0
93
571
46.2
79
596
46.4
101
576
46.8
77
59.1
48.3
7.8
57.1
47.8
64
599
617
561
48.8
48.2
46.5
7
44 1
7
29.5
7
432
29.0
124
441
29.9
122
442
30.2
122
457
30.5
134
448
30.9
121
454
31.2
123
421
30.1
101
447
473
323
128
424
5
9287
913.7
2434
914.6
2855
170
45.69
72
32.36
71
r
9,259
'9681
r
9886
7814
3' 170
r
56 922
r
491 1
3262
1427
r
3020
59 081
r
128
2268
222.4
2985
247
52.17
69
34.37
66
r
704
796
77
30.1
128
r4
72.7
267
53.05
77
35.46
70
950
1594
97
62
31.1
92
158
233
2027
Feb.
SURVEY OF CURRENT BUSINESS
S-22
1979
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS
1980
1980
Annual
March 1981
Jan.
Feb.
Mar.
Apr.
May
June
1981
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
CHEMICALS AND ALLIED PRODUCTS
CHEMICALS
Inorganic Chemicals
Production:
Aluminum sulfate, commercial (17% A12O3) $
thous sh tons
Chlorine gas (100% C12) $
do
Hydrochloric acid (100% HC1) $
do
Phosphorus elemental $
do
Sodium
Sodium
Sodium
Sodium
103
1,007
251
40
1,033
55
114
60
56
53
60
12772
770
1 115
90
1015
296
37
1037
75
102
102
992
237
38
1012
65
112
102
962
243
42
974
73
104
96
970
236
37
967
64
101
101
949
218
39
901
56
102
91
872
221
32
874
65
114
108
813
197
32
843
46
104
105
824
219
33
840
66
106
97
903
240
28
907
66
101
102
938
233
43
972
56
109
758
741
719
714
60
63
63
68
70
71
62
69
57
55
61
61
56
53
58
57
58
53
61
48
10,263
4 172
10,201
3039
945
4027
824
3973
879
3896
834
3774
826
3664
821
3594
863
3570
834
3503
802
3405
842
3306
843
3269
18523
7 543
2363
8465
2245
10317
43 119
18 982
8586
4
1 466
8934
3031
10*809
43883
1665
775
181
824
262
996
3860
1633
775
155
796
260
951
3967
1626
782
149
783
280
838
3494
1498
653
1634
624
161
647
254
914
3,540
1475
632
168
672
232
909
3,574
1474
698
191
726
208
901
3,610
1550
750
1,684
817
(2)
(2)
653
270
858
3471
1528
568
172
592
250
801
3,470
780
242
916
3,793
864
269
984
3,989
7662
366
7 640
8075
395
6950
28,043
3
3176
17 919
1576
713
587
612
2,049
219
1429
106
630
637
355
2,034
171
1301
95
624
509
535
3,123
398
1654
282
648
460
563
3,013
402
1471
221
693
483
657
3,125
534
1657
156
669
515
456
2,580
319
1560
178
666
431
674
2,487
343
1595
83
676
481
663
1,853
224
1 130
133
717
395
810
2,486
337
1408
101
381
2,957
309
1362
109
277
245
9275
116
20
42
681
0
hydroxide (100% NaOH) $
do
silicate anhydrous $
do....
sulfate anhydrous i
do
tripolyphosphate (100% Na5P3O10) $
do
Sulfur, native (Frasch) and recovered:
Production
thous. Ig. tons..
Stocks (producers') end of period
do
85
949
222
r
39
r
966
53
100
1 182
11 194
2813
440
11326
740
1269
1 314
12228
3090
460
1
r
r
888
3039
r
889
2412
Inorganic Fertilizer Materials
Production:
Ammonia, synthetic anhydrous $
1616
762
1602
750
(2)
(2)
807
252
846
3577
790
252
895
3538
42389
5752
27661
2496
662
411
574
2,232
217
1 443
179
703
674
471
495
477
574
1,956 15,451
201
2387
1 256 11758
807
156
247
289
8907
158
28
39
857
13
20
29
719
20
21
31
644
25
52
53
756
17
20
12
527
22
10
26
563
21
10
11
762
0
27
14
638
11
12
12
751
0
19
16
836
13
13
26
901
6
17
18
952
10
5741
5643
526
524
511
481
443
439
382
429
483
506
405
514
3 124
99,271
427 151
456 636
3545
95848
472 847
415 010
265
8 136
38266
37835
258
8474
38895
37582
267
8,433
39599
37,952
268
8,365
38348
36,456
289
8,080
40088
34,916
324
7,524
35665
29,298
325
6,845
37418
28,163
334
6,678
35649
31,637
326
7,857
40552
32,186
298
7,740
43459
35,529
298
8,632
43483
35,966
293
9,084
41425
37,490
1
319
1616
'2624
15 971 1
*337
11533
2372
15 7680
3147
*1 0546
13554
25
121
222
4823
272
990
74 8
32
129
233
5147
281
898
836
3.7
14 1
227
5343
282
907
916
3.7
122
19.7
5116
285
959
842
3.8
135
15.8
4764
278
800
734
3.4
120
16.8
4229
247
874
498
2.7
117
15.7
3558
313
927
432
2.5
113
17.0
4160
206
805
510
2.8
148
19.8
4832
264
813
675
3.2
123
20.1
5242
253
695
735
2.7
117
22.2
4986
243
84.1
737
2.8
140
22.0
5190
r
223
106.1
792
5704
536
574
550
52.7
565
54.7
554
54.6
678
54.0
735
45.7
650
52.8
727
46.4
704
57.2
67.1
2607
2609
4i
228
221
32
253
255
18
28.6
280
53
275
284
34
26.4
256
34
28.2
238
66
22.7
226
166
21.3
231
199
22.6
232
102
l 778 6 *14266
1379
12,408.4 1114188 10705
344 i 3263
9 13
1
6,326.9
5,402.8
504.5
*6 211 4 15 503 9
5129
1320
10124
2984
510.8
5196
1178
1387
1 116.1 1,059.4
3288
3258
480.7
422.5
4965
5751
913
971.4
2874
398.6
4014
983
724.2
2316
355.4
3515
955
761.1
2139
433.7
3494
1098
805.0
2416
397.9
3933
1209
906.8
2533
454.3
4589
1319
967.3
2593
495.8
5156
126.4
972.4
2822
464.2
5130
1125
1,021.1
286 1
498.2
4988
682.9
3673
169.5
1460
689.3
3410
199.7
1486
706.1
3148
233.5
1579
r
546.4
r
thous sh tons
A
'
ilfatp'l
Nitric acid (100% HNO3) $
d
do
Nitrogen solutions (100% N) $
Phosphoric acid (100% P2O5) $
Sulfuric acid (100% H2SO4) $
do
do
do
Superphosphate and other phosphatic fertilizers
(100% P2O5):
Production
thous sh tons
Stocks end of period
. ...
do
Potash deliveries (K2O)
fl
do
Exports total #
Nitrogenous materials
Phosphate materials
Potash materials
S
3
do....
do
do
do
.
.
Imports:
Ammonium nitrate
Ammonium sulfate
Potassium chloride
Sodium nitrate
do....
do
do
do
(2)
Industrial Gases
Production:
Acetylene
. .
mil cu ft
Carbon dioxide, liquid, gas, and solid
thous sh tons
Hydrogen (high and low purity)
mil. cu. ft.
Nitrogen (high and low purity)
do
Oxygen (high and low purity)
do....
Organic Chemicals §
Production:
Acetylsalicylic acid (aspirin) .. ..
Creosote oil
Ethyl acetate (85%)
Formaldehyde (37% HCHO)
Glycerin refined all grades
mil Ib
mil gal
mil Ib
do
do
Phthalic anhydride
ALCOHOL
1
2978
1
1 109 5
*1 0129
mil Ib
Ethyl alcohol and spirits:
Production
mil tax gal
Stocks end of period
do
Denatured alcohol:
Production
mil wine gal
Consumption (withdrawals)
do
Stocks end of period
do
PLASTICS AND RESIN MATERIALS
Production:
Phenolic resins
mil Ib
Polyethylene and copolymers
do ...
Polypropylene
do
Polystyrene and copolymers
do ...
Polyvinyl chloride and copolymers
do
l
1
1
3 823
1
MISCELLANEOUS PRODUCTS
Explosives (industrial), shipments, quarterly
Paints, varnish, and lacquer, shipments:
Total shipments @
Architectural coatings
Product finishes (OEM)
Special purpose coatings
See footnotes at end of tables.
mil. Ib.
mil $
do
do
do
29871
6
7 033 0
«3 417 7
•22897
•1 325 6
76012
36051
24184
1 577 8
751.4
7569
'30004
5408
2358
1968
108 1
5679
258 1
2042
1057
6119
2893
2045
118 1
6480
3172
2025
1283
7024
3661
1975
1388
7216
3817
1931
1468
788.6
704.0
698.2
3295
221.7
1470
2229
'202.3
1213
5156
2113
1931
1113
260
Feb.
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
hi the 1977 edition of BUSINESS STATISTICS
S-23
SURVEY OF CURRENT BUSINESS
March 1981
1979
1980
Annual
1981
1980
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
ELECTRIC POWER AND GAS
ELECTRIC POWER
Production:
Electric utilities, total
mil. kw.-hr..
By fuels
do.
By waterpower
do
Sales to ultimate customers, total (Edison Electric
Institute)
mil. kw.-hr..
Commercial and industrial:
Small light and power §
do....
Large light and power §
do
Railways and railroads
do
Residential or domestic
do....
Street and highway lighting
do
Other public authorities
do ...
Interdepartmental
do
Revenue from sales to ultimate customers (Edison
Electric Institute)
mil. $..
GAS
Total utility gas, quarterly
(American Gas Association):
Customers end of period total
thous
Residential
do
Commercial
do .
Industrial
do
Other
do .
Sales to customers total
tril. Btu..
Residential
do....
Commercial
do
Industrial
do....
Other
do
Revenue from sales to customers, total
mil. $.
Residential .
do...
Commercial
do
Industrial
do ..
Other
do
2,247,197 2,285,484 200,027 188,708 187,542 168 562 175,733 189,430 216,051 215 435 191,483 178,541 178,552 195,420
1 966 868 2 009 574 174 729 167 331 163 210 142 817 146 867 161 774 191 750 194 959 172 991 160 675 159 335 173 136
280 329 275 910 25297 21378 24332 25745 28866 27656 24302 20476 18491 17866 19217 22284
2 079,221
178,424 178,454 175,605 164 699 157,676 165 924 182,194 192 936 188,204 171 198 165,276
493,494
815 586
4245
694,266
14755
49481
7394
41216
65531
370
65,146
1362
4261
538
77,691.5
70080 7 067.1 7 1616 6,821.4
41 186
66328
370
64,587
1281
4 169
533
46817
43 137
3441
193
45
15,644
5,077
2506
7,753
309
39380
14,769
6609
17,495
506
40777
67179
366
61,451
1267
4016
550
38745
66125
353
53,831
1 199
3900
545
42,476
66978
356
55,528
1266
4031
564
40,363
65657
351
53,194
1307
3835
568
6 743.8 7,400.4 83920 9,029.8 8,745.4 7,831.2
7 448.8
38,321 41822 46,461 48872 47,405
65053 64946 63715 65597 67583
347
349
342
348
356
48,483 53,300 65,866 72,190 66,866
1 154
1 124
1 121 1 163 1203
4 185
4249
3767
3857
4138
573
550
551
533
545
47577
43711
3627
183
56
5506
2171
995
2236
104
16382
7192
3 149
5840
201
46886
42238
3414
189
44
2,610
401
271
1,894
44
8289
1,748
970
5482
90
47206
43504
3464
195
43
3 169
899
447
1,768
55
9960
3388
1534
4934
104
FOOD AND KINDRED PRODUCTS; TOBACCO
ALCOHOLIC BEVERAGES
Beer:
Production
mil bbl
Taxable withdrawals
do...
Stocks end of period
do
Distilled spirits (total):
Production
mil. tax gal..
Consumption, apparent, for beverage purposes
mil. wine gal..
Stocks end of period
. .
mil tax gal
Imports
mil. proof gal..
Whisky:
Production
mil tax gal
Stocks end of period
do
Imports
mil proof gal
Wines and distilling materials:
Effervescent wines:
Production
mil wine gal
Taxable withdrawals
do
Stocks, end of period
do.
Imports
do
Still wines:
Production
...
do
Taxable withdrawals
do
Stocks, end of period
do....
Imports
do
Distilling materials produced at wineries
do
DAIRY PRODUCTS
Butter, creamery:
Production (factory) @
mil. lb..
Stocks cold storage end of period . . . . do
Price, wholesale, 92 score (N.Y.)
$ per lb..
Cheese:
Production (factory) total @
mil lb
American whole milk @
do
Stocks cold storage end of period
do
American whole milk.
do.
Imports
do
Price, wholesale, American, single daisies
(Chicago)
$ oer lb..
See footnotes at end of tables.
1302
12.51
1394
1332
12.38
1396
14.66
11.84
9.55
8.84
5 10
56561
904
1135
909
7.06
6.51
2.65
207
9.83
035
1.92
175
12.25
044
3.61
407
11.68
050
2.42
352
10.55
066
066
085
20 23
6 17
27 26
2692
364.05 341.12
806
899
1 82 1022
164 44
23 16
485.38
9 14
37 10
20168
38 27
643.49
876
9062
5756
29 14
627.03
923
3148
9.03
891
101.7
3046
1.539
121.3
328.4
1.534
345.2
2007
1702
15.35
14 45
1629
14.51
1501
191 48
170.81
1396
14 64
12.54
1333
186.68
13.41
12.73
13.36
1392
13.49
10.96
4.72
7.14
8.97
*449.72
64567
123.65
113.98
32.88
644 15
6.30
31.79
64895
9.06
34.58
64808
7.79
3543
64921
826
34.60
649 19
9.64
37.28
64927
7.88
36.35
63972
982
34.47
63344
7.83
34.68
625.89
11.35
10126
581 16
9540
8600
677
57843
449
763
58020
685
954
58001
562
1030
581 99
620
948
584 21
708
785
58550
600
272
57677
743
445
57226
580
483
162
121
954
026
147
1 41
856
031
180
188
336
035
172
149
1053
032
221
145
1104
038
1.62
185
10.03
029
198
151
1057
032
7 06
30 15
53831
687
7 18
4 72
2652
515.72
639
686
4 65
5 66
5 28
31 19
26 71
29 76
47758 48183 434 17
926
677
780
227
1 60
1 49
293
27 18
384.80
738
344
184 19
168.12
1329
r
23.48
2240
1003
453
r
434
r
00
328 45
558.31
8763
25436
9768
1472
12.49
1383
1656
14.08
1484
1636
1433
1531
1797
1619
1744
1793
1581
1543
1872
17.08
1472
1495
13.53
14 18
38.24
984.6
1778
1.272
1,142.0
3046
1.448
103.8
1910
1.347
99.1
2033
1.357
101.7
2142
1.367
111.1
234 1
1.396
116.4
2757
1.413
93.8
2894
1.424
85.0
300 1
1.433
77.7
3064
1.515
77.2
3049
1.517
89.6
3007
1.526
84.9
299.8
1.536
3715.3
2 1877
5121
4065
2483
39455
2354 1
5788
4796
2312
3105
1820
5160
r
3998
11 1
2979
1765
5105
3996
67
341 1
1945
498 1
388.9
92
3328
2036
5130
406 1
106
3596
2305
5455
438.2
137
3542
2231
5817
469.8
151
3294
2059
6196
505.6
176
316.7
1927
615 1
501.0
175
315.0
1815
6125
498.3
249
328 1
1860
5936
484.5
293
315.0
1772
567.0
462.3
30.9
r
578.8
r
479.6
444
343.9
2122
601.1
504.1
103
1.414
1.562
1.467
1.472
1.508
1.535
1.542
1.548
1.555
1.570
1.615
1.653
1.641
1.641
1.640
r
1.537
1.640
SURVEY OF CURRENT BUSINESS
S-24
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS
1979
1980
Annual
March 1981
1981
1980
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
FOOD AND KINDRED PRODUCTS; TOBACCO—Continued
DAIRY PRODUCTS—Continued
Condensed and evaporated milk:
Production, case goods @
mil. lb..
Stocks, manufacturers', case goods, end of month
or year
mil. lb..
796.1
725.0
59.8
58.3
62.0
68.8
63.9
69.1
66.9
57.8
56.2
50.4
51.5
60.3
55.7
76.7
42.3
51.8
43.4
75.3
2.9
73.9
3.6
76.2
3.7
88.6
4.0
105.8
4.4
115.8
2.8
127.8
2.1
131.7
3.1
119.6
4.2
93.4
4.0
75.6
3.6
51.8
5.0
41.7
2.8
123,411
65,839
12.00
128,425
71,269
13.00
10,307
5,606
12.80
9,970
5,488
12.80
10,946
6,081
12.70
11,013
6,345
12.70
11,664
6,895
12.60
11,321
6,580
12.50
11,036
6,339
12.60
10,782
5,897
12.80
10,364
5,398
13.20
10,455
5,601
13.70
10,076
5,127
14.00
10,491
'5,912
14.10
mil. lb..
do....
85.3
908.7
84.3
1,151.0
8.0
75.0
6.1
75.8
8.1
90.1
6.6
112.0
5.7
133.4
7.1
132.6
7.4
122.1
6.2
102.1
6.2
75.8
8.2
74.2
7.9
68.5
6.8
89.4
6.8
92.0
Stocks, manufacturers', end of period:
Dry whole milk
do
Nonfat dry milk (human food) @
do....
Exports, whole and nonfat (human food)
do....
Price, manufacturers' average selling, nonfat dry
milk (human food) @
$ per lb..
4.3
92.6
73.3
5.3
85.0
176.2
4.7
85.5
14.1
4.6
80.5
10.1
6.1
'83.7
15.7
4.4
114.4
6.6
4.8
140.4
11.7
6.3
137.4
15.3
6.5
118.7
5.3
4.5
109.5
10.6
'3.0
76.2
5.0
'69.5
14.7
5.3
85.0
28.1
3.4
75.3
26.5
17.5
6.3
80.9
16.9
0.800
0,887
0.839
0.839
'0.840
'0.872
0.887
0.888
0.889
0.892
0.897
0.922
0.936
0.939
0.938
GRAIN AND GRAIN PRODUCTS
Exports (barley, corn, oats, rye, wheat)
mil. bu..
3,640.3
3,914.3
278.5
281.2
310.0
321.0
266.3
298.7
327.6
363.2
350.5
368.1
366.4
382.9
348.0
3.2
3.9
262.3
1660
963
4.1
9.3
395.3
2480
1473
6.7
6.8
302.6
1845
1181
9.1
6.4
2.69
2.62
2.62
2.62
2.54
2.58
240.9
5,853.3
4,140.1
17132
238.6
245.0
208.3
1.7
0.5
390.9
329.2
61.8
0.9
0.7
Exports
do
Fluid milk:
Production on farms
do
Utilization in mfd. dairy products @
do....
Price wholesale, U.S. average
$ per 100 lb..
Dry milk:
Production:
Dry whole milk @
Nonfat dry milk (human food)@
Barley:
Production (crop estimate)
fl
Stocks (domestic), end of period
On farms
O f f farms . . .
Exports including malt §.
. . . .
Prices, wholesale (Minneapolis):
No 2 malting ...
. .
No 3 straight
Oats:
Production (crop estimate)
fl
mil. bu..
Stocks (domestic), end of period, total
do....
On farms
.
do
Off farms
do
Exports, including oatmeal
do....
Price, wholesale, No. 2, white (Minneapolis)
$ per bu..
Rice:
Production (crop estimate) |J
mil. bags $..
California mills:
Receipts domestic, rough
mil. lb .
Shipments from mills milled
rice
do
Stocks, rough and cleaned (cleaned basis), end
of period
mil lb
Southern States mills (Ark., La., Term., Tex.):
Receipts, rough, from producers . . .mil. lb..
Shipments from mills, milled
rice
do....
Stocks, domestic, rough and cleaned (cleaned
basis) end of period
mil lb
Exports
do
Price, wholesale, No. 2, medium grain (Southwest Louisiana)
$ per lb..
Rye:
Production (crop estimate)
fl
mil. bu..
Stocks (domestic), end of period
do....
Price, wholesale. No. 2 (Minneapolis)
$ per bu..
WheatProduction (crop estimate), total
fl
mil. bu..
Spring wheat j|
do
Winter wheat
fl
do....
Distribution, quarterly @ @
do....
Stocks (domestic), end of period,
total
do....
On farms
do ...
Off farms
do
Exports, total, including flour
do....
Wheat only
do ...
Prices, wholesale:
No. 1, dark northern spring (Minneapolis)
$ per bu..
No. 2 hd. and dk. hd. winter (Kans. City) .. do....
Weighted avg., selected markets, all grades
$ per bu..
358.5
302.6
184.5
118.1
68.9
34.5
2.67
261
2
7,938.8
6,886.2
5,041.7
1,844.5
2,333.5
526.6
476.8
400.8
76.0
6,647.5
5,853.3
4,140.1
1,713.2
2,485.3
6.7
797
4.7
5.1
2.67
2.63
2.76
2.69
2.90
2.95
3.7
5.6
(66)
()
4,857.3
3 441.0
1,416.3
184.6
204.8
2.56
2.58
5
3
3,670.4
8
2 577.8
3
1 092 6
213.3
170.3
2.64
2.88
192.0
2.75
197.1
1,617.5
5
920.9
5
6966
206.2
202.6
(6)
2
457.6
390.9
329.2
61.8
9.0
4.8
131.9
189.9
2.67
1.57
2
4
192.1
4
112.4
4
2
2.42
2
r
2
382.8
365.6
246.4
119.2
$ per bu..
do
Corn:
Production (crop estimate, grain only) fl .. mil. bu..
Stocks (domestic), end of period, total
do....
On farms
do....
Off farms
do....
Exports, including meal and flour
do....
Price, wholesale:
Weighted avg., selected markets, all grades
$ per bu..
See footnotes at end of tables.
2
do....
do....
do
do
do
r
10,739
6,219
14.10 '"'14.10
4
236.4
4
198.3
4
339.6
284.3
55.3
0.3
0.1
0.1
0.5
38 1
0.4
1.52
1.51
1.47
1.52
1.64
1.65
1.2
1.0
1.3
484.1
394.8
893
1.0
6
()
2
145.1
2,721
1,800
3,582
2,711
364
348
248
146
247
228
243
192
254
176
320
256
288
285
237
113
195
258
476
132
368
238
342
339
354
216
249
231
175
214
173
169
156
166
100
162
49
255
301
231
283
9,247
6,019
10,831
6,805
479
510
1,032
621
620
619
289
490
166
445
155
611
218
412
829
498
2,439
568
2,170
687
1,077
583
1,358
761
436
590
2,503
4,978
2,969
6,620
2,317
584
2,346
557
2,138
584
1,859
518
1,552
585
1,082
540
866
644
912
419
1,938
577
2,664
409
2,813
474
2,969
730
2,686
533
0.173
0.225
0.200
0.220
0.235
0.240
0.240
0.220
0.210
0.205
0.205
0.210
0.245
0.265
0.270
2
2
2.47
2.36
150
2.38
2.18
16.3
9.2
22.4
17.7
2.51
2
2
2
2
2,134
2
533
1,601
2,051
1,716.2
773.9
942.2
1,265.1
1,222.5
2,370
2
478
1,891
2,186
492
1,902.0
754.1
1,147.9
1,225.1
5696
655.5
4
122
2.44
2.73
1
32A
4
902.0
4
376.5
4
85.0
82.7
92.5
89.5
101.1
94.7
100.3
98.3
525.5
90.7
88.6
99.9
96.2
125.7
123.6
4.08
4.03
4.25
4.37
4.22
4.42
4.20
4.19
4.13
3.94
4.48
4.13
4.54
4.12
(6a)
()
3.73
4.43
4.51
4.33
4.40
4.63
4.68
(e)
1,344.5
1,309.5
18.4
(6)
144.6
139.6
9.2
'800
570
2,471.9
975.3
1,496.6
1,902.0
754.1
1 1479
139.3
136.0
118.6
116.2
113.4
112.2
133.4
131.9
132.2
129.9
0.270
S-25
SURVEY OF CURRENT BUSINESS
March 1981
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS
1980
1979
1981
1980
Jan.
Annual
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
25232
415
56820
26077
419
57 989
3842
609
980
Feb.
FOOD AND KINDRED PRODUCTS; TOBACCO—Continued
GRAIN AND GRAIN PRODUCTS—Continued
Wheat flour:
Production:
Flour $
thous sacks (100 Ib )
Offal $
thous sh tons
Grindings of wheat $
thous bu
Stocks held by mills, end of period
thous. sacks (100 Ib.)..
Exports
do
Prices, wholesale:
Spring, standard patent (Minneapolis)
$ per 100 Ib..
Winter hard 95% patent (Kans City)
do
284 051
4945
636 375
282 655
4867
628 499
24553
429
54955
22624
394
50 352
22 165
384
49 104
21 231
*368
47 170
22814
390
49 836
21 356
377
47 786
23 137
410
51 760
24025
424
52980
24 813
430
54762
3975
18291
3,842
15014
1018
1300
3323
2713
867
918
4268
1606
894
2 137
3716
1396
1034
522
10.566
10088
10000
10413
10263
10113
9813
9688
9 488
10375
10013
10338
9838
11025
10000
10963
10 113
10975
10475
11 113
10600
11 138
10675
13,820
14,048
1,170
1,047
1081
1 183
1226
1,206
1,211
1,170
1,215
1,319
1070
1,150
1,166
387
240
339
198
'385
247
363
224
360
209
375
211
403
237
463
289
495
326
548
384
557
399
577
418
402
257
'339
'198
358
208
0.260
0.270
0.280
0.255
0.240
0.215
0.225
0.235
0.300
0.305
0.325
0.315
0.290
0.295
0.285
1923
1936
168
155
165
159
16 1
155
159
160
159
165
16 1
168
166
38
23
31
24
47
22
24
24
23
23
29
26
47
27
50
29
38
29
29
31
39
30
15
29
18
25
'31
'24
22
24
0.662
0.628
0.599
0.563
0.606
0568
0508
0.546
0.632
0.659
0.688
0.643
0.757
0.773
0.714
2499
31,504
2295
31,642
212
2,739
187
2486
202
2403
185
2539
161
2616
154
2,533
186
2,667
182
2684
198
2,739
228
3003
185
2507
214
2,725
215
2,803
6775
77.60
91.41
6696
71.30
75.53
6632
76.52
70.00
6744
78.35
70.88
6688
72.67
73.88
6307
66.89
73.60
6458
65.52
71.88
6629
68.83
72.00
7047
69.48
73.00
7231
71.92
79.12
6968
71.53
85.00
6718
71.64
83.40
6505
70.23
76.47
6429
70.04
77.17
6308
68.56
77.38
85425
91,873
8,036
7276
7854
8454
8 165
7,279
6,910
6,745
7,600
8,404
7,361
7,788
7,768
42.13
39.48
37.58
37.61
33.97
29.08
29.35
34.97
41.78
48.49
47.42
48.36
46.44
45.07
41.67
183
145
148
154
139
119
118
133
15 1
158
153
158
147
138
'128
4,833
5,363
448
419
470
466
454
400
420
427
466
510
415
468
488
66.58
62.46
66.00
63.00
61.38
59.50
62.75
64.00
67.50
68.25
65.75
62.00
55.67
53.75
46.50
mil. Ib.
do....
do...
do....
37225
706
1378
2,178
38,584
750
1661
2,050
3,393
735
101
196
3048
716
108
152
3100
697
144
166
3310
714
132
134
3314
707
139
173
3090
642
164
154
3065
579
145
208
3020
514
129
170
3221
505
136
133
3577
582
165
207
3 100
681
144
167
3,346
'750
154
191
3,415
805
143
171
do....
do
do....
do
21671
361
366
1712
21,843
338
425
1530
1,917
'378
29
156
1735
369
37
111
1683
346
42
121
1769
305
37
93
1814
285
31
133
1756
264
36
111
1,812
250
38
158
1806
235
40
125
1,860
226
35
95
2063
250
39
162
1,736
287
27
122
1,891
'338
33
143
1,970
379
34
128
Price, wholesale, beef, fresh, steer carcasses,
choice (600-700 Ibs.) (Central U.S.)
$ per Ib..
1.011
1.044
1.023
1.037
1.032
0.994
1.020
1.052
1.101
1.120
1.080
1.055
1.014
1.006
0.998
9508
9268
1
26 285 '24 420
'392
453
58392 '54 582
11.050
10663
11 113
10400
POULTRY AND EGGS
Poultry:
Slaughter (commercial production)
mil. Ib..
Stocks, cold storage (frozen), end of period, total
mil. Ib..
Turkeys
do .
Price, in Georgia producing area, live broilers
$ per Ib..
Eggs:
Production on farms @
mil cases §
Stocks, cold storage, end of period:
Shell
thous cases §
Frozen
mil Ib
Price, wholesale, large (delivered; Chicago)
$ per doz..
0.290
LIVESTOCK
Cattle and calves:
Slaughter (federally inspected):
Calves
Cattle
thous animals
do....
Prices, wholesale:
Beef steers (Omaha)
$ per 100 Ib
Steers, stocker and feeder (Kansas City) .... do....
Calves, vealers (So. St. Paul)
do....
Hogs:
Slaughter (federally inspected)
thous. animals..
Prices:
Wholesale, average, all weights (Sioux City)
$ per 100 Ib..
Hog-corn price ratio (bu. of corn equal in value
to 100 Ib live hog)
Sheep and lambs:
Slaughter (federally inspected)
thous. animals..
Price, wholesale, lambs, average (Omaha)
$ per 100 Ib..
6150
68.41
78.00
42.78
131
54.50
MEATS
Total meats (excluding lard):
Production total
Stocks, cold storage, end of period
Exports (meat and meat preparations)
Imports (meat and meat preparations)
Beef and veal:
Production, total
Stocks cold storage end of period
Exports
Imports
Lamb and mutton:
Production, total
mil. Ib..
Stocks cold storage end of period
do
Pork (excluding lard):
Production, total
mil. Ib..
Stocks cold storage, end of period
do...
Exports
.
. do
Imports
do
Prices, wholesale:
Hams, smoked composite
$ per Ib..
Fresh loins, 8-14 Ib. average (New York).... do....
0.961
284
11
310
9
27
10
25
9
28
3
28
g
27
9
22
10
23
10
23
9
26
8
29
8
25
10
28
9
30
9
15,270
281
330
361
16,432
349
314
433
1,449
'286
22
32
1,287
271
21
34
1388
291
26
37
1514
344
32
35
1473
358
30
31
1,313
314
32
35
1,231
264
28
44
1,191
217
19
39
1,335
217
18
31
1,485
268
28
40
1,339
322
29
37
1,426
'349
28
39
1,416
353
27
37
2
3
0.813
1.011
0.683
0.973
0.673
0.951
0.712
0.916
0.870
0.866
0.970
0.747
1.032
0.851
1.116
0.877
1.114
0.913
1.136
0.938
1.100
0.921
1.094
1.156
1.146
1652
1.604
1485
1.354
11 1
1.638
92
1.735
80
1.570
195
1.470
154
1.350
120
1.253
169
1.345
96
1.200
82
1.220
96
1.190
94
1.200
199
1.080
135
1.090
1.070
Coffee (green):
Inventories (roasters', importers', dealers'),
end of period
thous bags H
Roastings (green weight)
do..
2521
17005
2814
17,044
Imports total
From Brazil
Price, wholesale, Santos, No. 4 (N.Y.)
Confectionery manufacturers' sales
19 396
1*890
1.763
4347
18153
3*505
2.066
5 125
2020
309
1.890
414
1858
473
2.180
2.180
471
471
445
MISCELLANEOUS FOOD PRODUCTS
Cocoa (cacao) beans:
Imports (incl. shells) . .
.
thous Ig tons
Price, wholesale, Accra (New York)
$ per Ib..
Fish:
Stocks, cold storage, end of period
See footnotes at end of tables.
do
do
$ per Ib..
mil $
mil. Ib..
0.806
1.076
4
2907
4,023
2918
4297
1 366
274
2.130
469
1 421
44
2.050
415
399
370
1642
314
2.080
340
355
1 566
277
2.180
325
345
2814
4,865
2956
3859
1663
287
2.110
318
1533
419
1.950
293
347
359
1 386
336
2.060
396
380
1062
208
2.060
578
1292
346
2.100
581
379
391
1 486
352
2.100
508
1715
341
2.080
488
400
'471
P
387
SURVEY OF CURRENT BUSINESS
S-26
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS
1979
1980
Annual
March 1981
1980
Jan.
Feb.
Mar.
Apr.
May
June
1981
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
FOOD AND KINDRED PRODUCTS; TOBACCO—Cont.
MISCELLANEOUS FOOD PRODUCTS-Cont.
Sugar (United States):
Deliveries and supply (raw basis): §
Production and receipts:
Production
thous sh tons
r
4733
4656
636
467
229
116
176
158
70
60
96
592
928
do
do....
do
10788
10,714
3503
10807
10,115
2934
817
782
3606
874
829
3563
869
843
3384
810
765
3071
965
936
2841
933
875
2510
968
907
2204
975
900
1866
955
905
1548
899
808
1679
744
701
2345
Exports, raw and refined
sh. tons-
14,924
608,029
16,668
32,009
38,616
21,008
35,730
64,641
45,114
87,919
40,495
81,229
Imports, raw and refined
thous. sh. tons-
4,810
4,127
213
367
392
302
304
398
397
349
314
310
510
272
387
$ per Ib
do....
'0164
0228
0306
0.405
0189
0250
0272
0364
0200
0.295
0232
0.315
0331
0.422
0324
0.452
0277
0.393
0351
0.442
0372
0.413
0427
0.560
0409
0.550
0291
0.403
0303
0.432
thous. Ib..
174,690
184,786
18,749
17562
17,456
18,501
15,871
16460
14,099
11,883
11,870
14,271
12,126
15,936
12,891
mil. Ib..
do
4 206.4
1319
4,177 8
1307
3759
1360
3502
1483
3628
158 1
328.3
1460
325.1
1356
3145
1256
3298
1117
348.1
1145
347.0
1255
379.6
1028
348.9
1119
r
3676
1307
335.2
1252
Salad or cooking oils:
Production
Stocks end of period @ .
do....
do
5,075.6
1412
5,1665
1225
4317
1188
417.6
1456
450.1
144 9
421.8
146 1
448.7
1607
433.0
1483
409.6
1356
481.1
1579
452.8
1375
414.5
1318
394.4
1427
r
411.2
1225
404.6
138 1
Margarine:
Production
Stocks end of period @
do
do
25532
805
25928
742
2358
716
2287
800
2316
732
1845
695
2005
625
2146
747
192 1
783
1869
60.7
2132
66.1
2219
80.0
2184
71.4
r
2646
742
2348
623
0549
0603
0565
0565
0565
0599
0599
0599
0599
0637
0637
0624
0624
0624
0637
mil. Ib..
do....
do
904.8
765.7
566
1,042.6
715.1
559
73.8
61.0
628
70.2
65.2
592
82.9
65.3
529
84.6
57.7
500
89.9
53.8
572
89.8
54.7
61 7
88.3
59.0
538
87.8
51.1
522
91.9
61.7
460
99.6
65.4
470
87.8
57.3
508
r
96.0
r
96.4
62.4
68 1
do....
do
do....
5,836.3
31176
390.4
5,782.1
29794
4130
531.5
2568
4202
480.6
244 4
440.4
501.0
2675
399.3
504.7
2474
343.0
489.2
2644
417.1
459.7
2406
4275
470.5
2330
455.7
431.9
2353
402.8
455.6
2457
430.5
512.2
2686
439.5
449.3
236 1
412.1
r
495.9
r
2396
r
483.4
2564
4318
mil. Ib..
do....
595.6
748.4
6526
693.5
527
55.9
395
49.9
53.9
59.5
47.5
55.8
58.3
58.1
476
56.3
46.4
56.2
52.4
51.0
57.2
62.5
71.6
66.9
63.0
63.1
r
625
r
655
67.9
r
Deliveries total
For domestic consumption
Stocks raw and ref end of period
Prices, wholesale (New York):
Raw
Refined (excl. excise tax)
Tea, imports
1 127
998
864
2934
"3325
20,650 123,950
26,370
r
0267
0.383
FATS, OILS, AND RELATED PRODUCTS
Baking or frying fats (incl. shortening):
Production
Stocks end of period @
Price, wholesale (colored; mfr. to wholesaler or
large retailer* delivered)
$ per Ib
Animal and fish fats:
Tallow, edible:
Production (quantities rendered)
Consumption in end products
Stocks end of period
ff
Tallow and grease (except wool), inedible:
Production (quantities rendered)
Consumption in end products
Stocks, end of period
fl
Vegetable oils and related products:
Coconut oil:
Production, refined
Consumption in end products
Stocks, refined, end of period
Imports
fl
Corn oil:
Production: Crude
Production1 Refined
Consumption in end products
Stocks, crude and ref., end of period H
Cottonseed oil:
Production: Crude
Production' Refined
Consumption in end products
Stocks, crude and ref., end of period
Exports (crude and refined)
Price, wholesale (N.Y.)
Soybean oil:
Production' Crude
Production: Refined
Consumption in end products
Stocks, crude and ref., end of period
Exports (crude and refined)
Price, wholesale (refined; N.Y.)
TOBACCO
Leaf:
Production (crop estimate)
Stocks, dealers' and manufacturers',
end of period
Exports, incl. scrap and stems
Imports, incl. scrap and stems
Manufactured:
Consumption (withdrawals):
Cigarettes (small):
Tax-exempt ..
Taxable
Cigars (large) taxable
Exports, cigarettes
See footnotes at end of tables.
62.9
559
4130
58.3
do
do
401
9798
496
8893
513
75 i
406
50 1
464
427
38.4
1028
37.7
393
419
628
327
587
476
677
350
565
365
1267
366
909
496
1160
do....
do
743.5
5894
62.3
554
60.0
498
70.7
465
64.3
464
68.3
466
65.1
529
66.2
452
69.9
512
76.2
563
80.6
639
68.0
643
r
590
597
658
61 9
514
66.9
463
66.1
498
72.1
43.1
64.0
46.5
65.4
496
60.0
44.5
71.6
44.7
62.2
528
65.8
528
72.1
523
79.3
r
615
r
76.3
568
72.4
1428
119 1
1257
1027
145 1
1187
119.8
1075
125.5
1128
116.8
1034
104.2
1035
104.9
962
93.1
948
116.4
94 1
130.5
1198
1223
125 1
1315
1313
do .
do....
555.0
65.2
810.6
6382
5953
76.3
do....
do
1 260.5
1 1408
1,447 1
12977
r
475
110 1
do
do....
6182
144.3
6983
170.1
556
173.2
564
198.9
566
212.8
586
188.7
682
165.8
651
167.1
579
144.6
655
138.6
556
121.9
575
122.6
518
152.9
495
170 1
38 1
1848
do....
$ per Ib..
633.0
0.369
785.4
0.261
34.8
0.255
28.1
0.275
110.5
0.243
71.0
0.215
105.0
0.210
31.4
0.223
70.3
0.263
77.6
0.273
89.3
0.263
53.7
0.248
66.6
0.330
47 1
0.338
770
0.334
mil Ib
do....
do
fl do....
11 504 1
9,110.1
1 115 3 10649
801.9
760.5
1098 1
767.7
9937
687.1
10098
712.8
9016
699.0
9278
720.3
9138
760.7
10802
784.1
7507
1,155.2
7194
1,204.5
7629
1,175.9
671.6
1,183.7
693.6
1,144.8
6837
1,225.9
6712
1,305.0
754.5
1,263.0
890.1
764.5
737 1
1,210.2
do .
$ per Ib..
2 370.6
0.327
12 097 2
8,982.2
8,585 2
1,737.8
2,314 6
0.289
1734
0.282
2500
0.289
3254
0.274
2696
0.254
327.3
0.256
194.6
0.262
109.7
0.319
175.7
0.318
fl
mil. Ib..
86564
1,030.1
2
1,527
0637
7000
1,913.1
171.2
0.320
719 1
1,373.9
1125
0.302
10776 10243
760.5 •763.1
6826 '7388
1,677.3 1,737.8
84.7
1205
0.309
0.286
0.320
1 016 2
744.0
1160
0.282
2
1,772
mil Ib
thous. Ib
do....
4883
561,756
377,203
588 970
365,622
27970
29,332
52521
34,263
4616
80058
38,677
54619
36,353
53231
26,995
4284
42998
40,909
40877
25,681
25780
25,073
4548
32323
27,144
47610
32,793
64420
26,059
66563
22,342
44 809
33,973
millions
do....
do
do....
93 150
613,830
3356
79,717
94256
620,506
3290
78,256
9239
54 126
256
6.262
9610
48092
244
6.236
9650
49534
285
10.928
6729
52,830
237
6.485
6 161
50,496
281
5,409
6644
53,689
325
6,690
6193
49612
228
4.860
6809
52145
275
2.548
8554
54,839
335
7,770
9630
62,133
335
8.171
6833
49,248
251
6.116
8204
43762
238
6.781
6.958
0.265
SURVEY OF CURRENT BUSINESS
March 1981
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS
1979
1981
1980
1980
Jan.
Annual
S-27
Feb.
Mar.
Apr.
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
61 787 49921
122
147
1 914 1650
45904
260
1509
52 134
281
1703
48820
325
1510
53048
138
1608
50461
137
1542
58493
202
1711
57458
242
1536
546
67
May
June
Feb.
LEATHER AND PRODUCTS
HIDES AND SKINS
Exports:
Value total #
Calf and kid skins
Cattle hides . ..
thous $..
thous. skins..
thous hides..
991,707
2,321
23,731
693 678
2,494
19568
60782
159
1308
75 134
205
1705
78195
337
1737
58999
181
1671
thous $
thous. pieces..
do
138 800
15,529
2444
9027
518
9300
779
144
7 100
641
217
8 900
1074
52
9800
1378
6
9 100
1466
15
7500
1027
1
6200
640
30
6400
666
o
5 100
286
29
6500
492
8
5400
330
6
248
10
$ per lb..
do
1.687
0731
1098
0459
1.500
0591
1344
0487
1 150
0394
0860
0381
0860
0338
0860
0382
1.100
0439
1 100
0533
1.100
0430
1.100
0491
1.100
0543
1.100
0501
thous. sq. ft..
187,665
192,597
15,769
16,873
18,710
13,024
12,652
15,483
15,481
15,215
15,818
19,051
20,880
13,641
19,633
index, 1967—100..
329.6
2814
3272
3149
2847
2704
2632
2639
2826
3128
2553
2495
2689
2832
317 1
398 480
394 588
35509
33705
34440
33517
34832
33137
27932
31 474
33335
36976
30285
29446
305 172
72,779
20529
3,651
301 065
68653
24870
4 146
27297
6245
1967
259
26 197
5847
1661
293
26 181
6488
1771
349
25777
5828
1912
414
25949
6533
2350
373
24661
6*183
2293
337
21378
4733
1821
309
23858
5363
2253
309
25 188
5,862
2285
375
28239
6421
2316
381
23030
5105
2 150
375
23310
4,045
2091
372
7,581
9781
689
862
770
780
742
730
704
893
875
952
908
877
'2438
187.0
2395
179.9
2407
179.9
243 1
189.3
2479
189.3
2479
189.3
189.3
189.3
189.3
Imports:
Value total #
Sheep and lamb skins
Goat and kid skins
Price, wholesale, f.o.b. shipping point:
Calfskins, packer, heavy, 9 1/2-15 Ib
Hides steer heavy native, over 53 lb
LEATHER
Exports:
Upper and lining leather
Price, wholesale, f.o.b. tannery:
Sole, bends, light
LEATHER MANUFACTURES
Footwear:
Production, total
..
thous pairs .
Shoes, sandals, and play shoes, except athletic
thous pairs
Slippers
do ...
Athletic . .
.
do
Other footwear
do ..
Exports
do..,.
710
Prices, wholesale f.o.b. factory:
Men's and boys' oxfords, dress, elk or side
upper Goodyear welt
index 1967 — 100
Women's oxfords, elk side upper, Goodyear
welt
index, 1967-100..
Women's Dumps, low-medium duality
do....
216.9
181.5
3
4
LUMBER AND PRODUCTS
LUMBER—ALL TYPES #
National Forest Products Association:
Production total
Hardwoods
Softwoods
..
mil bd ft
do ...
do
2
2
2798
628
2 170
2855
592
2263
2879
588
2291
2257
600
1657
2307
568
1739
2486
543
1943
2479
494
1985
2783
570
2213
2818
527
2291
2903
549
2354
2480
550
1930
2329
500
1829
Shipments total..
Hardwoods
Softwoods
do
do....
do .
2
2
31
422
2
6,584
24838
2707
567
2 140
2791
553
2238
2538
543
1995
2343
562
1781
2512
500
2012
2454
419
2035
2716
504
2212
2708
494
2214
2851
511
2340
2494
542
1952
2350
492
1858
Stocks (gross), mill, end of period, total
Hardwoods
Softwoods
do ..
do
do ..
5342
1 171
4 171
5805
1807
3998
5,301
1228
4,073
5374
1276
4098
5721
1327
4394
5769
1371
4398
5568
1 443
4125
2530
469
2061
5534
1527
4007
5,570
1613
3957
5659
1701
3958
5,776
1 741
4,035
5,832
1783
4049
5826
1 799
4027
5,805
1807
3,998
do ..
do
1447
11513
1655
9859
120
727
116
923
180
896
178
655
170
730
153
830
119
876
134
804
118
863
123
867
117
892
127
799
756
mil bd ft
do .
8388
529
7 176
499
753
664
589
558
575
542
539
565
563
508
614
515
559
563
581
522
682
557
670
566
572
568
479
499
631
551
do....
do
do....
8427
8412
918
7 165
7206
877
651
618
951
710
695
966
683
591
1,058
449
516
991
525
620
896
592
607
881
540
511
910
614
622
902
685
647
940
638
661
917
558
570
905
520
548
877
614
579
912
Exports, total sawmill products
do....
Sawed timber
.
do .
Boards, planks, scantlings, etc
do....
Price, wholesale:
Dimension, construction, dried, 2" x 4", R.L.
$ per M bd ft
520
156
363
540
117
422
44
8
35
34
8
26
53
14
39
58
14
44
66
13
53
49
10
39
42
6
36
42
13
29
35
7
28
40
11
30
40
5
35
37
8
29
51
9
42
27724
22342
23736
23696
222 70
18483
18556
23701
23897
24837
23298
22431
21486
21712
7950
523
6559
419
509
501
640
544
441
486
571
512
552
503
580
512
558
470
509
473
425
456
493
545
553
561
566
571
614
600
510
434
575
546
678
492
6758
6663
668
597
633
594
544
536
2
7938
2
626
620
519
528
439
419
515
493
1221
Exports, total sawmill products
Imports total sawmill products
37 061
7,317
29744
36 514
6,942
29572
31
885
2
7220
24665
SOFTWOODS
Douglas fir:
Orders new
Orders, unfilled, end of period
Production
Shipments
Stocks (gross), mill, end of period
Southern pine:
Orders new
Orders unfilled end of period
Production
Shipments
mil bd ft .
do
do .
do
Stocks (gross), mill and concentration yards, end
of period
mil. bd ft .
2
7932
599
605
1304
41,269
17,882
1208
22,228
1222
24,274
1248
23,793
1213
29,384
1257
280,243
1273
23,153
1251
209,793
1214
21,203
1208
thous. bd. ft..
19,376
20,072
16,731
Prices, wholesale (indexes):
Boards, No. 2 and better, 1" x 6", R.L.
1967-100.
Flooring, C and better, F. G., 1" x 4", S.L.
1967=100..
3662
3372
370 1
371 7
3683
3344
3310
3296
3330
3316
3243
316 1
3161
320.0
301.4
324.6
320.4
323.6
326.9
319.3
319.3
319.3
323.6
325.8
325.8
330.2
330.2
330.2
Exports, total sawmill products
See footnotes at end of tables.
1 175
1270
1270
20,878
14,763
3027
S-28
SURVEY OF CURRENT BUSINESS
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS
1979
1980
March 1981
1981
1980
Jan.
Annual
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Nov.
Oct.
Dec.
Jan.
Feb.
LUMBER AND PRODUCTS—Continued
SOFTWOODS—Continued
Western pine:
Orders new
Orders unfilled end of period
9,630
403
7,768
327
754
513
586
442
546
364
572
367
595
365
627
369
726
415
692
387
801
436
783
442
597
414
489
327
623
427
... do.
do
9780
9696
7633
7844
608
644
670
657
696
624
563
569
496
597
552
623
620
680
707
720
753
752
785
111
615
625
568
576
571
523
do
1379
1 168
1343
1356
1428
1422
1321
1250
1 190
1 177
1 178
1 186
1 176
1 168
1216
317.26
287.55
252.62
291.36
314.97
242.34
215.48
252.06
310.05
327.35
304.06
293.25
306.22
34083
4.9
4.1
3.7
3.5
3.5
3.7
3.7
4.0
2.9
2.0
1.5
1.9
1.5
1.9
(3)
8.2
6.6
6.6
7.6
5.8
8.9
5.3
10.5
5.5
10.0
6.6
11.1
7.3
9.6
7.0
9.4
6.4
9.8
7.2
9.4
6.1
10.0
58
12.4
64
10.9
67
9.3
mil. bd. ft..
do
Production
Shipments
Stocks (gross) mill end of period
Price, wholesale, Ponderosa, boards, No. 3,
1" x 12" R.L (6' and over)
$ per M bd. ft..
HARDWOOD FLOORING
Oak:
Orders new
Orders, unfilled, end of period
mil bd ft
do....
934
7.0
(3)
do
do....
do....
998
96.7
5.4
(»)
Production
Shipments . ..
.
Stocks (eross). mill, end of oeriod
1.9
78.0
12.4
(3)
METALS AND MANUFACTURES
IRON AND STEEL
Exports:
Steel mill products
Scrap
Pig iron
thous. sh. tons..
. do
do....
Imports:
Steel mill products
Scrap
Pig iron
.
..
.... .. do....
do
do....
2,818
11 094
105
4,101
11 168
73
198
1 139
2
296
992
1
276
1 163
1
321
829
2
338
1,207
19
418
1,070
36
398
870
1
449
821
4
401
822
1
366
967
2
316
525
3
324
763
(2)
256
586
2
17,518
r
760
r
476
15492
557
399
1265
51
6
1667
70
30
1 120
70
35
1250
49
56
1,615
40
22
1,203
38
23
1,079
26
42
1,374
26
26
1,064
54
12
1,142
40
32
1 179
35
43
1534
58
72
1281
38
18
3998
3633
7968
8398
3870
3,622
7763
8,112
4202
3972
8393
7819
4050
3902
7893
7866
4006
3,543
7491
8,967
2868
2,820
5803
7,839
2583
2,324
5009
7,684
2856
2,574
5520
7,653
3,247
3,066
6328
7,691
'3691
'3,770
'7402
'7,771
3583
3,613
7408
7,684
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
$ per Ig ton
Pittsburgh district
do....
'52
219
r
50,048
'98
901
r
8,724
r
9807
101.50
92 17
96.17
9742
101.00
10424
108.50
10458
107.50
9896
103.50
83 11
87.00
7121
69.50
7377
73.50
8361
88.50
92.38
99.00
9665
104.50
98.21
105.50
10186
106.00
Iron ore (operations in all U.S. districts):
Mine production
thous. Ig. tonsShipments from mines
do
Imports...
do....
'85,716
'86 218
'33,776
69296
68639
'25,058
6867
2279
1,856
6,382
1784
1,167
6,677
2100
1,087
6054
6631
2,138
6,848
9328
2,714
6,415
7999
2,638
5,326
7021
2,712
4,736
6052
2,029
4,368
6211
2,062
5,024
6638
2,499
4,686
6587
2,348
5,913
6009
1,809
U.S. and foreign ores and ore agglomerates:
Receipts at iron and steel plants
. do....
Consumption at iron and steel plants
do....
Exports
do
115,892
115,014
4455
87 187
89,398
'5073
3526
8,631
149
2628
8,325
2
2976
9,331
237
7569
8,891
644
10,894
7,975
653
5,768
551
9,467
5,456
284
7671
5,644
650
8,054
5,953
484
8,498
7,203
552
8323
7,895
309
7625
8,326
563
'55 753
'11 368
'38,969
'5416
'56 066
'14 265
'35 706
'6095
53719
15945
33875
3899
51,750
20555
28109
3086
49013
25 132
21645
2236
49601
26833
20237
2531
50,676
24355
23,100
3221
53,522
22771
27,242
3509
56,784
21073
31,176
4535
57545
19757
32953
4835
57,999
17914
35,009
5076
57,653
16289
36,131
5233
56,621
14374
36,499
5748
56066
14265
35706
6095
850
795
109
56
54
66
97
68
54
67
60
38
57
69
'86 975
'87 458
'881
68722
6583
6638
841
6,357
6407
815
7 115
7038
880
5,906
5,926
889
4,664
4,697
900
4222
4270
870
4360
4383
867
4,596
5621
6 132
6489
'203 00
20300
20300
20300
20300
6677
6717
882
20300
20300
20300
20300
20300
203.00
20300
20300
Castings, gray and ductile iron:
Orders, unfilled, for sale, end of period
thous. sh. tonsShipments, total
do....
For sale
... . do ...
'839
'14,551
'6890
'816
10926
5915
844
1033
541
856
973
500
858
1,064
549
821
1015
537
745
860
457
705
788
446
719
686
412
737
787
467
771
896
498
803
1,064
571
'808
'895
'485
816
865
452
Castings, malleable iron:
Orders, unfilled, for sale, end of period
thous sh tons..
Shipments total
do
For sale
. .
... . do ..
'56
'725
398
'46
514
269
47
51
26
47
52
28
47
52
26
40
49
25
36
42
24
37
38
21
33
30
15
34
35
20
38
38
19
43
46
23
'49
40
21
46
41
21
thous sh tons '136 341
percent..
'87.8
111 118
'72.3
10701
82.7
10332
85.3
11439
88.4
10658
83.0
9226
69.6
7501
58.4
6796
53.1
7019
54.8
7767
62.7
9442
72.2
10057
79.5
10 180
778
'569
1842
1.598
1080
182
155
1,005
180
151
955
187
157
865
169
147
790
173
148
691
152
133
673
115
109
645
120
105
602
142
122
574
141
122
582
131
115
569
150
134
Ore
Stocks total end of period
At mines
At furnace yards ..
At U S docks
.. . do....
do
. . . do....
do
Manganese (mn content) general imports
do
Pig Iron and Iron Products
Pig iron:
Production (including production of ferroalloys)
thous sh 'tons
Consumption
do
Stocks, end of period
do....
Price basic furnace
$ per sh ton
7,600
Steel, Raw and Semifinished
Steel (raw):
Production
Rate of capability utilization
Steel castings:
Orders, unfilled, for sale, end of period
thous sh. tonsShipments total
do
For sale, total
do....
See footnotes at end of tables.
'1,024
'2026
'1,768
6603
S-29
SURVEY OF CURRENT BUSINESS
March 1981
1979
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS
Annual
1981
1980
1980
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
METALS AND MANUFACTURES—Continued
Steel Mill Products
Steel products, net shipments:
Total (all grades)
thous. sh. tons..
By product:
Semifinished products
do. ..
Structural shapes (heavy), steel piling
do....
Plates
do ..
Rails and accessories
do....
Bars and tool steel total
do
Bars: Hot rolled (incl. light shapes)
do....
Bars: Reinforcing
do
Bars: Cold
finished
do....
Pipe and tubing
do....
Wire and wire products
do....
Tin mill products
do....
Sheets and strip (incl. electrical), total
do....
Sheets: Hot rolled
do....
Sheets: Cold rolled
do
By market (quarterly):
Service centers and distributors
do....
Construction, incl. maintenance
do ..
Contractors' products
do....
Automotive
..
do
Rail transportation
do....
Machinery, industrial equip., tools
do....
Containers, packaging, ship, materials
do....
Other
do
r
83,805
7,952
7,690
8,711
7,296
6,440
5,848
5,354
5,745
6,682
7,458
7,038
7,591
5,496
'5,596
'9,035
r
2,026
5,329
5,803
8,096
1,796
!7,601
'9,958
'5,303
'2,245
'8,242
'2,449
'6,310
'43,507
'15,995
'17,284
13,220
6,908
4,652
1,581
9,068
1,773
5,717
33,600
12,121
13,315
404
504
729
182
1,415
764
461
183
722
180
573
3,242
1,154
1,290
503
485
743
177
1,308
681
460
159
747
170
520
3,036
1,085
1,216
563
488
848
185
1,334
709
457
159
871
191
685
3,547
1,338
1,394
442
437
721
191
1,191
645
387
152
756
167
466
2,925
1,078
1,165
431
443
639
173
1,053
555
357
134
779
135
464
2,323
793
945
343
355
592
151
982
500
359
117
755
129
411
2,139
775
827
351
355
595
98
832
386
347
94
672
118
416
1,915
681
740
386
942
587
112
889
433
350
101
689
124
435
2,168
754
848
379
447
652
138
1,011
517
371
117
739
136
426
2,756
988
1,104
496
489
702
124
1,132
583
415
126
789
146
432
3,149
1,083
1,282
488
432
627
125
1,036
571
340
120
767
129
425
3,010
1,111
1,179
543
'426
'661
'140
1,037
564
348
119
782
148
464
3,390
1,281
1,325
18,263
10,058
4,021
18,624
4,127
6,027
6,770
'32,372
16,174
8,787
3,362
12,156
3,178
4,566
5,549
30,082
!00,262
r
r
Steel mill shapes and forms, inventories, end of
period—total for the specified sectors:
mil. sh. tonsProducing mills, inventory, end of period:
Steel in process
mil sh tons .
Finished steel
do
Service centers (warehouses), inventory, end of
period
mil. sh. tons..
Consumers (manufacturers only):
Inventory, end of period
do....
Receipts during period
do
Consumption during period
do....
NONFERROUS METALS AND PRODUCTS
Aluminum:
Production, primary (dom. and foreign ores)
thous. sh. tonsRecovery from scrap (aluminum content)
do....
Imports (general):
Metal and alloys crude
do
Plates sheets, bars etc
do
Exports:
Metal and alloys crude
do
Plates sheets bars etc
do
Price, primary ingot, 99.5% minimum .... $ per lb..
Aluminum products:
Shipments:
Ingot and mill prod, (net ship.)
mil lb..
Mill products, total
do....
Sheet and plate
do
Castings
do....
Inventories, total (ingot, mill products, and
scrap), end of period
mil. lb..
Copper:
Production:
Mine, recoverable copper
thous. met. 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 .
Consumption, refined
(by mills, etc.)
thous. sh. tons..
Stocks, refined, end of period
do....
Price, electrolytic (wirebars), dom., delivered
$ per lb..
945
3,473
702
1003
1,325
7709
36.2
35.1
35.3
35.2
35.8
34.8
33.5
33.0
31.2
29.7
30.0
11.4
7.5
11.1
7.4
11.3
7.3
11.5
7.6
12.1
7.4
12.1
7.2
11.9
6.9
11.4
6.8
10.3
6.6
9.6
6.7
9.6
6.9
7.3
7.1
7.2
6.8
7.4
7.3
7.0
7.5
7.4
6.9
7.1
'6.6
63.0
66.6
10.0
5.8
6.0
9.5
5.5
6.0
9.5
6.3
6.3
9.3
5.7
5.9
8.9
5.1
5.5
8.2
4.5
5.2
7.7
4.1
4.6
7.3
4.4
4.8
6.9
5.1
5.5
6.5
5.9
6.3
6.4
5.2
5.3
431
114
406
111
434
115
421
113
438
111
425
106
427
102
426
113
419
124
437
128
427
122
'7.4
'10.2
80.1
80.3
4,693
3,432
2,006
727
2,440
582
882
1,192
6,518
3,592
2,075
752
2,580
855
1,170
1,279
7,281
'9.6
'7.0
'36.7
'11.5
'7.6
4,429
2,426
974
3662
1,037
1,518
1,761
8,544
5,023
'1,399
9.6
7.0
6.6
5.4
5.2
'570.6
'201.0
567.7
71.3
61.8
8.6
45.3
7.7
47.8
6.9
45.4
5.6
42.1
6.0
51.7
6.8
40.3
4.4
40.7
4.4
43.0
3.7
41.4
7.2
29.9
4.8
78.3
5.2
'200.6
'265.7
715.0
315.3
'0.6957
39.6
12.4
0.6600
37.7
31.9
0.6600
52.8
20.9
0.6600
52.3
23.2
0.6800
52.3
24.9
0.6800
61.3
27.5
0.6800
51.3
24.6
0.6800
97.6
42.5
0.6800
98.9
24.5
0.6933
70.1
34.1
0.7546
55.0
24.2
0.7600
46.1
24.6
0.7600
1,582
1,255
941
506
163
1,218
892
500
162
1,274
958
494
166
1,180
926
489
143
1,135
884
498
125
1,093
788
497
107
1,104
800
462
91
1,177
820
468
111
1,196
851
479
123
1,232
911
494
138
1,013
796
435
'127
126
5,069
5,011
4,949
4,910
4,950
5,021
5,072
5,026
4,968
4,942
5,066
124.5
132.9
121.1
11.8
117.0
128.1
116.8
11.3
130.0
133.3
124.2
9.1
127.8
145.3
131.3
14.0
129.2
162.3
151.2
11.2
120.1
155.1
147.6
7.5
(38)
48.3
25.8
76.0
64.2
58.7
5.5
102.0
90.2
82.7
7.5
116.8
121.1
109.6
11.5
64.1
56.2
55.8
53.0
55.1
52.7
26.6
33.6
33.4
60.8
'0.5940
'14,537
'11,241
'6,318
'1,999
'5,125
'1,443.6
1,515.4
1,411.5
103.9
1,175.3
1,225.8
1,121.6
104.1
575.6
49.5
44.8
()
34.1
22.7
(3s)
()
(33)
()
341.3
'217.9
520.3
431.8
11.2
2.9
46.5
37.8
69.1
53.2
38.6
32.3
50.7
37.5
31.7
27.5
26.8
24.7
38.6
34.8
42.8
39.1
64.2
59.2
55.8
46.0
44.3
36.8
'308.8
80.5
330.1
17.4
19.8
1.0
24.2
1.4
23.6
1.9
25.5
1.5
34.0
1.5
30.4
2.0
39.2
1.9
39.2
0.9
20.8
0.4
25.3
0.5
25.2
1.0
22.9
3.4
0.9947
0.9698
0.8913
48.5
50.2
4.6
103.0
39.6
58.1
3.7
92.5
41.0
'0.9333
530
480
678
345
2,470
288
'1.0242
1.1939
1.3381
1.0604
0.9485
0.9348
0.9271
375
392
1.0356
1.0071 '0.9886
Copper-base mill and foundry products, shipments
(quarterly total):
Brass mill products
mil lb
Copper wire mill products (copper cont.)
do....
Brass and bronze foundry products
do....
Lead:
Production:
Mine recoverable lead
thous met tons
Recovered from scrap Gead cont.)
do....
Imports (general), ore Gead cont.), metal
do....
Consumption, total
do....
See footnotes at end of tables.
rl
587
680
120
716
787
140
2,952
3,048
617
525.6
'719.1
551.0
59.6
1.303.6
52.1
51.6
59.2
4.4
97.3
50.4
55.4
6.5
84.9
50.0
59.6
2.2
90.0
49.1
59.1
3.2
83.8
50.0
51.2
4.4
84.1
46.3
57.1
7.8
77.2
0.7600
532
660
108
43.5
46.0
2.0
68.2
41.7
52.2
4.2
79.5
39.3
56.0
6.5
95.6
2.6
0.8857
Feb.
S-30
SURVEY OF CURRENT BUSINESS
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS
1979
1980
1980
Jan.
Annual
March 1981
Feb.
Mar.
Apr.
May
1981
July .
June
Aug.
Oct.
Sept.
Nov.
Dec.
Jan.
Feb.
METALS AND MANUFACTURES—Continued
NONFERROUS METALS AND
PRODUCTS—Continued
Lead—Continued
Stocks, end of period:
Producers', ore, base bullion, and in process
(lead content), ABMS
thous. met. tonsRefiners' (primary), refined and antimonial
(lead content)
thous. met. tons..
Consumers' (lead content)
fl
.
do
Scrap (lead-base, purchased), all smelters
(gross weight)
thous met tons
Price, common grade, delivered
$ per lb..
Tin:
Imports (for consumption):
Ore (tin content)
metric tons
Metal un wrought, unalloyed
do
Recovery from scrap, total (tin cont.)
do....
As metal
.
do
Consumption total
do
Primary
do
Exports, incl. reexports (metal)
Stocks, pig (industrial), end of period
Price Straits quality (delivered)
Zinc:
Mine prod., recoverable zinc
Imports (general):
Ores (zinc content)
Metal (slab, blocks)
do
do....
$ per lb
rl
r
123.6
137.3
142.9
140.9
138.3
138.9
142.4
136.9
77.0
962
61.0
873
49.1
845
31.5
868
26.1
907
41.6
944
392
0.3419
385
0.3560
355
0.4096
382
0.4226
389
0.4500
398
0.4381
0.3897
3805
135.3
64.4
1107
75.6
1078
55 1
0.4988
44 4
0.4956
367
0.4922
34 1
0.4402
357
0.3600
34
4617
1,325
170
5500
4500
412
4 145
1395
145
5300
4300
164
4585
1445
185
5750
4750
59
3877
1305
150
5300
4350
o
o
o
4202
1,055
160
4 100
3250
0
3 131
1,015
125
3700
3000
o
4364
1,175
155
4600
3700
2,736
1,230
175
3900
3,050
3095
1,220
155
4 150
3350
147
3688
1,370
155
4300
3400
26
3738
4293
5,086
8 4600
392
7,720
8 3736
152
6,882
86873
353
7,527
89860
322
5,443
87666
479
7,263
86850
566
6,592
8.5346
426
6,544
8.4316
498
6,051
8.3922
227
5,180
8.6898
180
5,208
8.4000
151
5,086
79779
75956
4 529
48354
17,235
1880
r
62 500
r
49 000
842
45983
r
r
119.6
66.6
114 4
0.4246
3418
r
4,238
7 5389
114.6
609
1183
r
524
0.5264
r
108.1
81.7
1004
461
1188
547
263.7
313.0
28.3
26.5
28.2
26.9
25.5
27.1
24.6
25.2
24.1
28.2
24.0
24.4
2250
r
527 1
1138
3290
81
102
308
18
102
295
94
29 1
94
21.2
163
20.8
156
30.1
86
323
21
38.3
85
45.1
136
52.0
do
do
r
827
2300
54
223
70
22 1
68
223
62
193
55
19 1
58
18.5
45
18.0
53
18.3
46
184
38
19.4
63
19.3
443.0
r
44 5
1 008 2
03
256
21
804
257
20
803
61.0
55.5
01
46.8
58.2
01
Slab zinc: @
Production (primary smelter), from domestic
and foreign ores
thous. met. tons
Secondary (redistilled) production
do
Consumption, fabricators
do
Exports ..
do
Stocks, end of period:
Producers', at smelter (ABMS)
do....
Consumers'
do
Price Prime Western
$ per lb
r
55.8
789
r
O 3730
03
18.7
r
O 3743
(2)
43.1
736
03744
828
(2)
30.8
708
0 3750
(2)
29.0
72 1
03796
74.1
(2)
28.5
665
03801
(2)
33.5
668
03750
38.9
609
03644
(2)
38.2
57.5
03550
32.1
563
03573
667
(2)
27.3
579
03663
74.6
(2)
0.3379
4050
3250
do
do
thous. met. tons..
Consumption (recoverable zinc content):
Ores
.
Scrap, all types
135.3
105.2
74876
72.0
(2)
21.3
586
03726
18.7
575
03858
(2)
18.7
16.7
04059
0 4119
MACHINERY AND EQUIPMENT
Heating, combustion, atmosphere equipment, new
orders (domestic), net, qtrly #
mil $..
Electric processing heating equipment
do
Fuel-fired processing heating equip
do....
Material handling equipment (industrial):
Orders (new), index, seas, adj
1967—100
r
Industrial trucks (electric), shipments:
Hand (motorized)
number
Rider-type
do
Industrial trucks and tractors (internal combustion
engines) shipments
number
Industrial supplies, machinery and equipment:
New orders index, seas, adjusted
1967-69—100
Industrial suppliers distribution: f
Sales index seas, adjusted
1977—100
Price index, not seas. adj. (tools, material
handling equip., valves, fittings, abrasives,
fasteners, metal products, etc.)
1977—100
Fluid power products shipments indexes: *
Hydraulic products, seas, adj
1972=100..
Pneumatic products seas adj
do
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
.
do ...
do
do.
do
do....
Tractors used in construction, shipments, qtrly:
Tracklaying total
units
mil $
Wheel (contractors' off-highway)
units..
mil $
Tractor shovel loaders (integral units only),
wheel and tracklaying types
units
mil $
Tractors, wheel, farm, nonfarm (ex. garden and
construction types), ship., qtrly .
units
mil $..
ELECTRICAL EQUIPMENT
4194
4376
408.8
363.4
383.5
336.3
355.4
331.5
4534
371 1
3406
24 183
28654
20495
24 HO
1840
2 149
1809
2254
2097
2568
1860
2330
1910
2 178
1502
2251
1511
1577
1396
1647
1913
1947
1624
1839
1512
1658
1521
1712
55 782
39448
3940
4 423
5016
4 130
3353
3875
2073
1972
2590
2878
2 636
2 562
r
2613
2140
2436
2283
225 1
2214
206.4
195.6
197.5
198.6
2010
2073
219 1
2245
129 6
1345
1320
1393
1363
1407
138.7
132.2
132.2
134.2
1314
1357
1327
128 1
1174
131.2
124.3
125.4
126.9
129.5
130.6
132.0
132.9
133.2
1339
134.6
135.3
136.3
r
272
r
r
272
r
234
306
233
313
232
285
231
298
237
274
232
259
218
284
236
244
218
246
225
253
251
240
233
255
259
3 884 75
3 495 50
3 680 80
r
3r 206 00
4 749 7
385 10
32155
24785
230.60
46829
r6
235
r
4
r
495 10
3 965 80
2 930 05
2r 605 50
4 545 7
1 047 60 rr776 95
664 95
91990
94650 1r 010 95
'859 80
878
55
r
r
384.8
618.8
8180
7035
8285
7520
617.8
40190 42080 354.30 373.60 414.20 267.60 165.05
36200 37435 325 10 35005 379.15 250.65 148.95
26675 36680 25885 28365 38285 24805 24465
24285 32120 224.05 240.70 337.75 211.50 223.50
4818 1 4872 1 r4 967 6 5 057.6 5,089.0 5,108.6 5,029.0
9910
9165
8870
7945
628.2
10785
9340
9320
81 15
642.9
57.60
5035
8420
7325
616.3
60.45
4620
91.00
8295
585.7
43.00
3320
92.75
7905
535.9
36.95
3045
7890
6770
493.9
295.65 28655 27500 rr245 00
25945 26305 25395 r207 25
33775 352 15 31865 r372 80
292.80 295.10 276.45 314.50
49869 49213 4 877.6 r4 749 7
59.40
5130
66.25
5360
487.0
79.15
7245
7345
66 10
492.7
4345
3740
8765
7240
448.5
5405
44 15
8150
6945
421.1
1334
1128
882
778
19812
13222
5,146
417 i
4830
356.5
1,128
983
4518
3404
1,441
1145
3824
2930
1,265
101 1
5
55 314
5
1 758 1
16050
5354
11 102
465 1
9346
3583
201 453
3 424.2
48854
868.0
38475
785.5
27750
5805
14 449
3719
8041
2156
5,741
6,249
5,361
3,792
2,540
2,931
1 668
1 684
r
Batteries (auto.-type replacement), ship
thous..
53,746
50,063
3,859
3,220
thous..
40,029
28,104
1,696
1,785
3
thous
16616
17508
1050
1 188
3
39.5
194
200
3537
Radio sets, production, total market
Television sets (incl. combination models),
production total market
See footnotes at end of tables.
84.9
189
37.3
109.7
233
56.7
3726
1055
160.4
3,197
3,049
3,525
4,564
2,463
2,607
2,365
3
1 174
1301
3
3,014
2,765
1,923
1,536
2,317
3
1 492
1 156
1265
3
1785
1980
r
245
248
20940
189 10
323 30
28570
46358
5435
45 10
9140
78 85
384.1
5,520
4,820
2,149
3,354
1 765
1 560
3
247
243
SURVEY OF CURRENT BUSINESS
March 1981
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
hi the 1977 edition of BUSINESS STATISTICS
1979
1981
1980
1980
Annual
S-31
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
METALS AND MANUFACTURES—Continued
ELECTRICAL EQUIPMENT— Continued
Household major appliances (electrical), factory
shipments (domestic and export) #
thous..
Air conditioners (room)
do
Dishwashers ....
do....
Disposers (food waste)
do
Ranges
do....
Refrigerators
.
do
Freezers
do....
Washers
do
Dryers (incl. gas)
do....
Vacuum cleaners (qtrly.)
do....
GAS EQUIPMENT (RESIDENTIAL)
Furnaces gravity and forced-air, shipments.... thous.
Ranges total sales
do
Water heaters (storage), automatic, sales @
do....
r
33,162
3749
r
3488
r
3317
r
3000
r
5701
r
l,858
r
4965
'3,551
13,019
r
!863
1799
r
2.887
r
30,259
r
3204
r
2,738
r
2960
r
2,530
r
5 124
1,681
r
4550
r
3,177
7,439
2,737
203
265
290
261
464
130
479
357
2,580
342
250
283
262
375
135
373
278
2,845
434
277
295
215
436
152
421
283
2,183
2,608
416
232
264
211
409
128
374
241
2,238
344
168
164
199
396
151
317
197
2,422
316
189
194
192
453
192
340
196
1,939
2,711
566
184
199
189
477
182
345
227
2,391
94
212
229
191
464
180
397
257
2,478
66
261
234
206
476
146
401
285
1,948
2,877
90
297
343
257
519
123
468
333
2,234
125
204
256
208
371
74
331
284
2,131
203
198
223
185
295
89
302
238
1,370
1445
1538
2,818
138
123
262
131
133
233
122
151
262
87
122
257
71
123
210
83
132
215
94
93
199
123
119
208
147
138
237
174
143
271
144
121
218
132
141
246
460
248
4796
425
80
4912
380
57
4979
75750 65 505
57,146
47829 45011 45642
9029
5099
5 142
4785
288
189,844
170 777 177 564 179 472
19067
8445
8 175
8563
8905
8,266 r 9204
'470.2
469.6
474.3
72 120
2,566
226
242
280
218
408
91
408
297
PETROLEUM, COAL, AND PRODUCTS
COAL
Anthracite:
Production
....
Exports
Price wholesale *
thous sh tons
do....
Index 1967—100
Bituminous:
Production
thous sh tons
Consumption, total
do....
Electric power utilities
do
Industrial total
do
Coke plants (oven and beehive)
do....
Residential and commercial
do....
Stocks, end of period, total
do....
Electric power utilities
do
Industrial total
do
Oven-coke plants
do....
Exports
Price, wholesale
4835
1233
4110
5400
1,795
4638
470
167
4357
350
50
4357
460
67
4357
510
145
4597
500
143
4597
495
184
4597
462 1
525
273
425
286
4698
776 299
677,286
526 005
144 150
77,009
830 000
67 806
63,276
50295
12 155
6319
64 328
59429
47440
11 284
5991
69 866
58557
46601
11 497
6405
69 871
52,372
40622
11 270
6230
70 399
52,598
41378
10930
6 111
71 355
55,881
45731
9 921
5317
60 700
62,908
53489
9 190
4*893
70 240
7,131
178,440
156 440
21660
10028
do....
Index, 1967=100..
64783
451.1
thous. sh. tons..
do
^2,943
27455
do
do....
do
do
5 163
4613
62,631
53 134
9280
4,867
217
229
229
290
480
459
705
826
175,824 173 129 172 966 180,286 189,929 195,147 181,715 181,333
155 336 153 669 154 138 160 991 170 319 175 121 162 896 162 792
20488 19 460 18 828 19 295 19 610 20026 18819 18541
7829
8386
9540
9872
9653
9534
9263
9 196
8944
7972
8449
3990
4292
89882
8711
7414
5565
467.8
466.7
459.1
465.9
465.9
464.4
461.6
459.4
466.6
(2)
r
400
96
4782
r
72060
8,169
474.1
65
5087
5368
5,727
475.7
478.2
COKE
Production:
Beehive and oven (byproduct)
Petroleum coke §
Stocks, end of period:
Oven-coke plants total
At furnace plants
At merchant plants
Petroleum coke
Exports
do. ..
PETROLEUM AND PRODUCTS
Crude petroleum:
Oil wells completed
number
Price wholesale
Index 1967 — 100
Gross input to crude oil distillation
units
mil bbl
Refinery operating ratio
% of capacity
All oils, supply, demand, and stocks:
New supply total |f
mil bbl
Production:
Crude petroleum
do
Natural gas plant liquids
do....
Imports:
Crude and unfinished oils
do....
Refined products
do....
Change in stocks all oils (decrease —)
do
Demand, total
do....
Exports:
Crude petroleum
do
Refined products
do
Domestic product demand, total #
do .
Gasoline
do
Kerosene
do....
Distillate fuel oil
do
Residual fuel oil
do....
Jet fuel
do....
Lubricants
do....
Asphalt
do
Liquefied gases
do....
Stocks, end of period, total
Crude petroleum
. ..
Strategic petroleum reserve
Unfinished oils natural gasoline etc
Refined products
See footnotes at end of tables.
do....
do
do....
do
do....
46,132
4394
2298
4204
2 172
4444
2274
4,396
2 163
4238
2262
3686
2246
3370
2402
3,387
2318
3,295
2244
3,470
3,565
3,683
5531
4859
5781
5097
684
6698
5850
847
1 111
229
7426
6488
938
1 137
226
8 133
7095
1038
1 167
9018
7,907
1 112
1042
9011
7889
1 123
9040
7833
1207
8627
7,521
1 106
199
8676
7612
1063
1 151
246
207
260
156
67
101
2636
5713
2409
5796
2239
5807
3,675
5960
1,789
6152
1038
1212
5832
5 150
682
1342
2 162
46
84
189
6063
5315
748
1327
253
26947
5517
1436
5136
1632
515 1
2383
5228
1836
5339
2061
540 1
2232
5490
2068
5514
2340
5668
54587
85
4535
82
4218
434 0
4129
4217
81
78
76
4234
75
77
4219
74
4123
73
4079
74
68032
5797
5292
5532
5204
5205
511 4
5009
4984
4908
3 1213
594.2
268 1
53.1
2522
49.4
270 1
50.2
2606
50.3
2678
49.7
2564
48.2
2652
48.2
261 1
48.2
2586
46.8
2,400 9
686.8
4
557
6,930.2
2006
58.0
58
595.0
1742
53.4
1810
51.8
145 1
42.4
24
556.5
233
506.0
148
1470
42.1
237
140.7
43.2
-84
1599
43.1
21 1
518.2
1665
40.3
561.2
1685
41.0
24 1
515.4
511.3
497.4
513.1
857
96
90
100
549
1042
1545
19346
3765
86 1
67583
25815
68.6
12097
1,031.6
3927
65.5
1720
581.0
4
1,340.9
4303
3
91.2
4
1320
4
778.6
8627
7,521
1 106
672
71
5783
1972
66
5456
1923
75
5389
1997
65
72
95
82
11 0
74
91
5017
2049
5.4
4.2
1157
88.8
34 1
1075
89.9
31 1
983
789
346
332
5004
2097
3.5
744
69.2
31.5
4864
2010
3.6
699
69.7
31.7
5.4
57
5.0
57
5.0
68
51
84
4.6
130
4.6
162
4948
2100
3.6
690
70.9
34.4
4.3
182
35.7
7.4
6.8
82.1
73.0
86
24
75
4875
2073
4.3
662
70.9
32.3
4.3
178
35.5
36.5
37.7
62.2
35.8
48 1
52.6
1 347.9 1 339.4 1,341 9 1,365 9 1,387.1 1 410.4 1,425.2 1,448.9
4788
4705
4732
475 1
4448
4529
4705
4528
91.2
91.2
91.2
91.2
91.2
912
912
912
1482
1495
1494
1472
1312
1399
1256
1258
821.9
805.2
787.8
764.8
777.4
760.8
757.8
755.5
r
-24
96
71
496.4
1965
3.9
111
70.8
31.7
4.9
173
39.6
1,446.5
4688
92.8
1497
828.0
8429
S-32
SURVEY OF CURRENT BUSINESS
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS
1979
1980
1980
Jan.
Annual
March 1981
Feb.
Mar.
Apr.
May
June
1981
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
PETROLEUM, COAL, AND PRODUCTS—Continued
PETROLEUM AND PRODUCTS—Continued
Refined petroleum products:
Gasoline (incl. aviation):
Production
mil bbl
Stocks end of period
. do
Prices (excl. aviation):
Wholesale regular
Index, 2/73-100..
Retail, regular grade (Lundberg/Platt's) H
$ per gal..
Aviation gasoline:
Production
mil bbl
Kerosene:
Production
do
Stocks end of period
do
Price, wholesale (light distillate)
Index, 1967=100..
Distillate fuel oil:
Production
mil bbl
Imports
do
Exports
do
Stocks end of period
do
Price, wholesale (middle distillate)
Index, 1967=100..
Residual fuel oil:
Production
mil bbl
367.6
4
0.878
2002
(i)
2773
203.5
(i)
285.8
C)
275.0
1966
(i)
2660
1981
(»)
2675
201.7
01
263.8
201.4
(*)
262.2
192.4
02
261.0
576.7
481.1
517.5
560.4
585.4
595.5
598.6
601.1
602.9
599.6
'591.5
590.5
595.9
607.2
632.1
1.217
1.127
1.190
1.226
1.229
1.234
1.237
1.235
1.233
1.221
1.217
1.220
1.233
1.278
1.372
13
30
10
31
10
29
10
28
13
29
1.4
30
0.9
27
3.6
129
896.3
895.7
910.3
931.1
971.0
868.4
873.4
891.2
935.2
998.5
943.8
1,012.0
1,160.7
1,201.5
1,237.4
08
27
668
158
5.1
140
54
133
47
13 1
4.3
134
3.6
138
3.5
139
3.8
143
3.3
133
733.9
776.9
834.6
862.5
870.5
878.4
892.7
903.1
937
55
02
212 1
806
64
02
1915
795
55
06
1777
739
4.4
01
177.0
766
3.9
(i)
183.1
794
3.2
(i)
195.8
834
3.6
01
213.8
763
2.4
(»)
226.3
850.6
739.3
793.5
837.7
858.9
864.8
860.9
870.2
875.6
r
960.2
548
35 1
01
972
945.5
513
325
05
910
969.8
490
30 1
01
883
979.3
477
23 1
1.2
852
933.2
46.7
252
0.6
876
870.0
47.2
225
0.4
877
853.7
45.9
244
1.9
856
944.5
44.8
27 1
0.1
869
953.7
44.9
272
0.6
879
r
956.2
3692
385
31 1
384
297
383
320
387
307
393
31.0
413
30 1
423
30.2
409
29.7
403
31.2
422
710
86
125
57
06
12.4
53
06
123
5.6
1i
119
5.6
08
11.8
5.8
09
12.5
5.3
09
12.3
5.8
08
13.3
5.0
0.6
13.6
5.4
0.5
13.7
1688
18 9
100
23 3
95
27 2
11 1
31 5
107
338
12.0
329
134
302
14.1
262
13.9
225
13.8
19 1
5680
4439
124 1
2
110 7
497
392
105
96 7
47 1
36 8
102
90 4
486
380
106
903
470
370
100
1000
46.3
362
10 1
1076
45.8
358
100
1168
46.1
359
10.2
1255
46.7
367
10.0
1347
44.7
352
9.4
137 1
863.2
1 1508
718
1i
2287
573.9
6156
4201
32
956
684.5
do
11
27
189.5
137
2
27
539.6
Exports
do
Stocks end of period
do
Price, wholesale
Index, 1967=100..
Jet fuel:
Production
mil bbl
Stocks end of period
do
Lubricants:
Production
do
Exports
* do
Stocks end of period
do
Asphalt:
Production
do
Stocks end of period
do
Liquefied gases (incl. ethane and ethylene):
Production total
do
At refineries (L R G )
\ P
2175
(i)
2649
25146
02
2
2399
r
903.2
r
806
3.0
(!)
232.3
873.7
r
PULP, PAPER, AND PAPER PRODUCTS
PULPWOOD AND WASTE PAPER
Pulpwood:
Receipts
thous cords (128 cu ft )
Consumption
do
Stocks end of period
... do.
Waste paper:
Consumption
thous sh tons
Stocks end of period
do
WOODPULP
Production:
Total all grades 4£
thous sh tons
Dissolving and special alpha
do
Sulfate
do
Sulfite
..
... do
Groundwood
do
Semichemical
do
Stocks, end of period:
Total all mills
do
Pulp mills...
do....
Paper and board mills
. do
Nonpaper mills
do
Exports all grades total .
do...
Dissolving and special alpha
do
All other
do....
Imports all grades total
Dissolving and special alpha
All other
3
76
3
81802
80522
6,285
6906
6923
5,320
6 996
6614
5,677
6895
7044
5,555
6677
6762
5,464
6800
6811
5,425
7365
6969
5,715
6782
6,356
6,114
6893
6,719
6,310
6722
6,601
6,349
6878
6,779
6,396
6408
6,710
6,123
6480
6,234
6,285
3
12694
818
1060
652
1055
605
1083
573
1,035
607
1054
668
1,050
672
957
743
1,051
727
1,051
747
1153
790
1,068
'763
1,077
818
4 390
146
3380
'147
364
353
4 152
125
3 183
154
358
332
4 496
134
3446
158
394
364
4 243
134
3238
152
375
345
4447
138
3403
161
395
351
4307
126
3297
156
386
342
3965
111
3049
130
369
306
4334
129
3324
150
397
335
4 186
94
3216
160
388
328
4319
124
3292
164
411
328
4230
124
3,236
164
383
325
887
77 362
5,430
12 915
636
3
50 612
1447
35553
1,829
4667
3854
do
do....
do
930
364
507
59
3
2,935
764
3
2,170
3
4318
155
3
4 163
446
56
3,806
769
3,037
4051
194
3858
850
377
417
55
212
43
169
365
15
350
843
365
418
60
269
54
215
328
14
314
867
355
450
62
321
91
230
445
13
432
922
385
471
66
360
84
276
320
24
296
976
420
485
72
317
58
259
373
13
360
971
435
462
74
362
79
283
336
29
307
982
461
453
68
356
73
283
285
10
276
1,034
493
479
62
385
70
315
344
21
323
960
454
452
54
313
60
252
300
10
290
960
467
440
54
341
52
289
298
12
286
1,009
547
406
r
54
247
52
195
323
24
299
tons
do
do
do
do....
66608
30012
30936
144
5.516
64792
29,705
30820
137
4.131
5749
2656
2685
13
395
5468
2501
2551
12
403
5748
2,661
2706
13
368
5329
2,523
2497
10
298
5422
2,531
2600
8
284
5289
2,394
2592
9
296
4945
2,228
2395
8
314
5,299
2,382
2561
10
346
5314
2,382
2560
13
359
5,720
2,614
2702
13
391
r
5342
r
2,413
r
446
56
322
52
270
334
10
324
PAPER AND PAPER PRODUCTS
Paper and board:
Production (Bu. of the Census):
All grades total unadjusted
thous sh
Paper
.
.
Paperboard
Wet-machine board
.
Construction oaoer and board
See footnotes at end of tables.
2570
13
r
346
5 166
2,421
2403
13
330
291
67
224
380
23
356
SURVEY OF CURRENT BUSINESS
March 1981
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS
1979
1980
1981
1980
Jan.
Annual
S-33
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
PULP, PAPER, AND PAPER PRODUCTS—Continued
PAPER AND PAPER PRODUCTS—Cont.
Paper and board—Cont.
Producer price indexes:
Paperboard
1967-100..
Building paper and board
do
Selected types of paper (API):
Groundwood paper, uncoated:
Orders, new
thous. sh. tons..
Orders, unfilled, end of period
do
Shipments
do
Coated paper:
Orders, new
do
Orders, unfilled, end of period
do....
Shipments
do
Uncoated free sheet papers:
Orders new
Shipments
235.2
206 1
202 1
1824
1
221.8
1862
2237
1917
2274
198 7
232 1
2013
2392
2068
2389
2089
237 1
2118
2384
2103
r
2395
r
2102
'2399
r
2127
2432
2156
241 1
2191
251.0
219 1
r
l!2
108
123
126
1,519
149
1509
1,501
108
1500
169
180
135
119
173
117
136
179
132
116
170
127
105
136
132
115
119
127
118
119
116
135
129
125
120
125
121
139
135
130
r
!26
132
121
4547
385
4527
'4732
356
4669
460
381
416
407
420
390
373
378
415
403
405
377
410
360
380
357
344
364
400
405
340
384
404
378
384
385
389
426
398
421
r
733
722
r
620
r
do
do..
7826
8,189
'7666
'8,292
730
747
Unbleached kraft packaging and industrial
converting papers:
Shipments
thous sh tons
3934
4506
*3788
'4352
8756
8,780
162
3,685
3689
16
6,673
6,586
628
732
7,223
7279
Tissue paper, production
. ..do
Newsprint:
Canada:
Production
thous metric tons
Shipments from mills
do....
Stocks at mills end of period
do
United States:
Production
Shipments from mills
Stocks at mills, end of period
do .
do
do ...
Consumption by publishers
fl
do....
Stocks at and in transit to publishers, end of
period
thous. metric tons .
Imports
thous. sh. tons..
Price, rolls, contract, f.o.b. mill, freight allowed
or delivered
. ..Index 1967-100
Paperboard (American Paper Institute):
Orders new (weekly avg )§
thous sh tons
Orders, unfilled
do
Production total $
do
Paper products:
Shipping containers, corrugated and solid fiber
shipments
mil. sq. ft. surf. areaFolding paper boxes, shipments.... thous. sh. tons..
mil. $..
652
714
628
710
346
319
325
299
282
306
311
398
372
378
340
323
351
356
738
744
205
782
210
766
763
214
767
774
207
717
732
192
601
640
154
692
662
183
651
642
192
334
334
24
358
351
30
339
346
23
368
365
26
356
346
36
341
350
27
374
371
30
516
521
582
545
569
538
498
617
670
683
724
749
806
793
619
624
685
631
648
641
550
546
2793
2694
2694
2694
2694
2776
2837
2837
613
1393
31429
(2)
(2)
130 995
2738
2576
2 777
2570
2661
2608
2393
250,643
2,716.0
2.416.7
243,228
(2)
(2)
21,935
(2)
(2)
20452
21466
20636
19 150
19 115
18456
2494
3
647
710
682
753
346
335
384
371
8625
8,622
165
111
727
212
4239
4234
21
343
336
23
111
579
678
580
614
591
669
596
658
374
352
394
658
142
r
391
356
405
406
r
434
r
616
r
674
704
665
302
r
293
310
372
'343
380
735
735
192
708
691
208
691
735
165
751
695
221
353
350
32
377
381
28
358
346
40
379
374
26
533
534
583
592
338
357
'21
576
793
782
763
696
r
732
763
584
588
568
596
584
2838
2838
2838
2983
2592
2526
2681
2622
2310
2722
19,345
21054
23229
18,849
19,313
21,161
4938
132.90
5592
0728
4948
129.52
5031
4506
0730
0713
17459
16786
328
r
369
r
r
253.2
2252
301.9
(2)
(2)
RUBBER AND RUBBER PRODUCTS
RUBBER
Natural rubber:
Consumption
Stocks, end of period
thous metric tons
do....
Imports incl latex and guayule
thous Ig tons
Price wholesale smoked sheets (N Y ) $ per Ib
Synthetic rubber:
Production
thous metric tons
Consumption
do
Stocks end of period
Exports (Bu. of Census)
TIRES AND TUBES
Pneumatic casings, automotive:
Production
Shipments, total
Original equipment
Replacement equipment
Exports
Stocks, end of period
Exports (Bu. of Census)
.
Inner tubes, automotive:
Exoorts (Bu. of Census)
See footnotes at end of tables.
73900
132.12
74768
0651
0730
2 528 16
2 339 75
40286
do
385 10
thous. Ig. tons..
thous..
do
do
do
do
do....
do
206,687
213 929
58072
150 781
5077
44,873
6572
do....
3.576
5569
14136
7396
0733
4685
152.42
3890
0723
4233
145.70
5526
0690
4125
147.39
3884
149.89
43.16
138.50
7682
0730
5727
13533
5600
0865
44 46
0685
38 49
0673
3137
0680
19558
17078
19465
17609
19240
14889
15957
13573
12964
120 14
43616
3448
452 15
41 68
44508
4688
42922
3733
11029
13103
391 19
3654
12367
13373
43990
3146
206 77
19106
42756
41 98
37233
14976
16597
33973
30.46
2551
15 188
13700
3830
9463
407
46760
605
15059
12 445
3 974
8004
'467
49993
698
15082
15 180
4 208
10443
11370
14056
3 131
10505
419
46972
787
10716
15301
3073
11786
528
50471
1098
13678
15558
3271
11791
496
49,220
863
442
42817
618
10,206
13457
2217
10817
423
40,079
572
12,057
15537
2521
12566
450
37057
657
13911
17564
3615
13497
452
33730
885
15790
18034
4 304
13133
597
32 112
638
405
481
420
438
328
441
458
265
464
226
6292
131.40
159,263
177 063
40227
131 271
5565
33,298
3177
0790
32535
3345
3072
32.31
12861
13305
C
3376
9499
431
32363
691
13,346
12926
2707
9,767
452
33298
946
314
317
0.690
SURVEY OF CURRENT BUSINESS
S-34
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS
1979
1981
1980
1980
Annual
March 1981
Jan.
Mar.
Feb.
Apr.
June
May
July
Aug.
Sept.
Oct.
Nov.
Dec.
31,824
28,181
Jan.
Feb.
STONE, CLAY, AND GLASS PRODUCTS
PORTLAND CEMENT
Shipments, finished cement
thous. bbl..
CLAY CONSTRUCTION PRODUCTS
Shipments:
Brick, unglazed (common and face)
mil. standard brick..
Structural tile, except facing
thous. sh. tons..
Sewer pipe and fittings vitrified
do....
Facing tile (hollow), glazed and unglazed
mil. brick equivalentFloor and wall tile and accessories, glazed and
unglazed
mi sq ft
Price index, brick (common), f.o.b. plant or N.Y.
dock
1967-100..
GLASS AND GLASS PRODUCTS
Flat glass mfrs ' shipments
thous $
Glass containers:
Production
Shipments domestic, total
Narrow-neck containers:
Food
Beverage
Beer
Liquor and wine
Imports, crude gypsum
Board products total
Lath
Veneer base
Gypsum sheathing
..
....
Regular gypsum board
Type X gypsum board
Predeccrated wallboard
5/16 mobile home board
22,101
26,005
33,011
36,324
39,314
39,840
39,644
40,489
43,303
8,019.8
43.3
847.3
6,334.2
101.6
722.8
450.1
5.8
46.3
401.8
9.4
36.5
439.4
6.9
40.6
505.0
7.1
50.8
520.8
7.6
52.0
558.4
7.6
53.3
588.0
9.1
71.5
574.0
8.9
76.7
625.5
9.4
78.7
681.0
9.7
96.5
r
527.9
10.3
r
73.5
56.1
45.4
3.2
3.5
4.1
3.4
4.6
4.6
4.2
3.0
3.8
4.2
3.2
3.6
296.9
26.9
26.3
26.7
24.1
24.3
24.6
24.1
24.4
26.1
25.9
'21.1
22.4
263.1
280.9
272.5
274.6
276.2
280.9
281.7
281.7
281.7
280.7
281.6
285.9
286.3
287.3
858,130
868,914
r
210,895
191,757
220,279
27,262
28,136
28,572
27,154
26,615
27,068
27,329
28,625
r
24,825
25,234
28,578
24,925
25,630
27,654
28,495
28,829
26,476
30,064
29,145
317,123
26,558
r
do
do
do
do
26,686
54,995
113,875
26,111
27,960
57,754
116,268
24,599
2,130
3,731
8,701
1,991
2,544
3,633
9,155
1,816
2,749
4,887
9,614
2,213
2,338
4,516
9,229
1,750
2,295
5,109
9,867
1,858
2,392
5,502
11,068
2,149
2,300
6,076
11,254
1,873
2,728
5,683
10,793
2,032
2,781
5,662
10,343
2,278
66,517
61,269
5,517
5,244
6,267
4,489
4,251
4,283
4,812
5,241
6,306
25,856
3,789
26,046
3,227
2,449
306
2,462
380
23,178
2,157
4,776
9,433
2,478
r
l,768
r
3,932
8,651
2,034
1,778
4,247
8,160
2,127
5,149
'4,673
5,037
2,305
260
r
l,898
197
1,638
191
50,302
49,323
52,828
51,372
946
874
'920
826
980
869
1,019
964
1,050
984
1,106
1,032
1,248
1,064
1,028
968
1,081
924
636
477
607
597
617
625
595
493
719
590
344
410
459
575
413
428
607
529
493
531
36
34
49,323
47,556
50,288
50,323
'14,630
14,543
12,479
11,485
1,095
1,111
1,043
943
963
926
do....
7,773
7,365
847
563
do
5,596
'5,544
390
324
1
2,369
325
21,047
52,913
45,935
2,379
224
52,488
r
2,028
222
25,054
23,153
2,099
253
50,285
2,526
322
2,017
243
1,876
304
46,574
48,825
r
do....
379
409
34
35
39
34
32
30
33
40
31
31
do
do....
121
283
217
161
20
15
17
14
20
13
19
14
18
14
19
13
18
13
19
13
18
13
20
15
14
11
15
13
mil sq ft
do
do....
do
16,865
125
444
218
14,131
78
339
190
1,401
10
36
16
1,130
8
29
14
1,110
7
25
14
1,131
6
25
13
1,021
6
25
13
1,090
7
25
15
1,166
6
27
17
1,203
5
29
17
1,258
6
31
18
1,365
5
31
20
1,108
5
27
17
1,149
5
29
16
12,556
3,272
249
(5)
9,923
3,266
105
229
1,006
308
7
18
801
254
8
18
783
254
8
19
789
273
9
16
711
243
8
14
753
266
8
15
807
281
9
18
840
278
10
25
879
289
10
24
961
310
11
27
784
246
8
20
809
265
8
16
650
277
374
780
340
440
691
354
337
3
588
3
252
3
602
248
354
795
353
442
694
363
331
641
268
373
111
332
445
660
343
317
r3
825
r3
340
3
639
251
388
867
356
451
696
365
331
733
283
450
769
339
430
654
342
312
..
do
do
do
do
291.1
245,983
322,483
do
do....
462.4
9.7
46.4
314.3
321,999
Stocks, end of period
do....
GYPSUM AND PRODUCTS
Production:
Crude gypsum (exc. byproduct) .... thous. sh. tons..
Calcined
do....
Sales of gypsum products:
Uncalcined
.
.
Calcined:
Industrial plasters
Building plasters:
Regular basecoat
All other (incl. Keene's cement)
22,032
317,829
Wide-mouth containers:
Food (incl. packer's tumblers, jelly glasses,
and fruit jars)
thous. gross..
Narrow-neck and wide-mouth containers:
Medicinal and toilet
Chemical, household and industrial
'402,825
do.
thous. gross.
...
'451,383
TEXTILE PRODUCTS
FABRIC
Woven fabric, finishing plants: *
Production (finished fabric)
Cotton
Manmade and silk fiber
Inventories held at end of period
Cotton
Manmade and silk fiber
Backlog of finished orders
Cotton
.
Manmade and silk fiber
.
COTTON
mil linear yd
do
do...
do....
do
do
do....
.. do
do
Cotton (excluding linters):
Production:
Ginnings
fl
thous. running bales
Crop estimate
thous. net weight bales §..
Consumption
thous running bales
Stocks in the United States, total, end of period #
thous running bales
Domestic cotton, total
do....
On farms and in transit
•
do
Public storage and compresses
do....
Consuming establishments
do....
See footnotes at end of tables.
8065
3 107
4,957
r
828
r
351
'477
9,408
4838
4569
2
14
12
8420
3531
4,990
769
339
430
8,495
4577
4219
3
801
3
325
3
476
799
347
452
784
413
371
703
279
424
796
344
452
523
432
391
710
388
422
800
340
459
833
440
393
3
866
3
346
3
520
818
3
350
3
468
826
433
393
662
274
388
806
342
463
774
399
376
336
788
346
442
679
346
333
4
262
14,629
6 140
11,124
12933
12,929
3937
8,160
832
9261
9,260
2502
5,927
'831
6 135
200
3
604
507
11323
11,315
2593
7,734
988
9792
9,786
2245
6,554
987
513
8129
8,123
1 803
5,252
1.068
3
622
496
478
6592
6,586
1376
4,081
1.129
5 187
5482
962
3,124
1.096
4014
4,012
671
2,341
1.000
3
4
581
4
1311
487
443
456
3027
3,026
250
1,822
954
13290
13,288
10890
1,509
889
12443
12,441
10080
1,578
783
485
'800
'346
'454
'681
'347
'334
4
4,603
3
597
4
4
7,843
10,938
458
10948 '10 271
10,946 '10,270
7024 '4 451
3,180
'5,070
742
'749
4
9,925
3
10683
' 475
435
9261
9,260
2502
5,927
831
8038
8,037
1576
5,530
931
290.5
S-35
SURVEY OF CURRENT BUSINESS
March 1981
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS
1979
Annual
1981
1980
1980
Jan.
Feb.
Mar.
May
Apr.
June
July
Sept.
Aug.
Oct.
Nov.
Dec.
Jan.
Feb.
TEXTILE PRODUCTS—Continued
COTTON AND MANUFACTURES— Cont.
Cotton (excluding linters) —Continued
Exports
thous running bales
Imports
thous. net-weight bales §.
Price (farm), American upland fl cents per lb..
Price, Strict Low Middling, Grade 41, staple 34
(1-1/16"), average 10 markets
cents per lb..
Spindle activity (cotton system spindles):
Active spindles, last working day, total
mil..
Consuming 100 percent cotton
do....
Spindle hours operated, all fibers, total
bil..
Average per working day
do....
Consuming 100 percent cotton
do
Fiber stocks, producers', end of period:
Filament yarn (acetate)
Staple, incl. tow (rayon)
Noncellulosic fiber, except textile glass:
Yarn and monofilaments
Staple incl tow
Textile glass
fiber
737
0
61.6
1025
(7)
66.5
1 150
1
64.8
63.3
o
911
(7)
66.8
686
(7)
62.8
540
2
74.9
80.1
o
393
2
81.4
237
1
75.3
436
5
77.6
80.9
76.9
"74.5
61.6
71.5
72.4
80.7
79.2
79.0
78.3
72.4
79.0
85.6
87.5
85.8
87.0
87.2
85.1
83.3
16.2
6.4
102.0
0.393
41 7
15.9
6.0
102.5
0.388
420
16.4
6.4
100
0.402
4
41
16.3
6.4
87
0.436
34
163
6.3
83
0.414
33
163
6.4
100
0.402
4
41
162
6.4
81
0.403
33
16.1
6.3
79
0.393
32
160
6.2
4
82
0.329
4
34
16 1
6.2
76
0.378
32
157
6.2
73
0.367
32
16 1
6.1
100
0.398
4
41
160
6.0
r
80
r
0.399
34
159
6.0
84
0337
r
33
18.0
17.9
16.6
17.2
16.8
14.7
15.4
18.0
13.2
12.8
11.3
140
3.7
5.0
3.7
3.6
3.6
4.0
4.1
4.0
5.4
4.2
020
029
021
022
0 21
024
0 28
029
0 30
0 32
627.8
5064
540.2
5668
50.6
430
54.2
416
524
575
452
530
42.4
44 7
472
605
34.6
492
443
413
316.6
549.4
308.5
443.3
3
Cotton cloth:
Cotton broadwoven goods over 12" in width:
Production (qtrly.)
mil. lin. yd
Orders, unfilled, end of period, compared with
avg. weekly production
no. weeks' prodInventories, end of period, compared with
avg. weekly production
no. weeks' prodRatio of stocks to unfilled orders (at cotton
mills), end of period
Exports, raw cotton equiv. thous.
net-weight §
bales..
Imports, raw cotton equivalent
do..
MANMADE FIBERS AND MANUFACTURES
Fiber production, qtrly:
Filament yarn (acetate)
mil. lb..
Staple, incl. tow (rayon)
do....
Noncellulosic, except textile glass:
Yarn and monofilaments
do.
Staple incl tow
do
Textile glass fiber
do
r
7973
15816
73.3
6649
6 127
57.5
3858
5
18.9
5
5
11.8
35.6
Manmade fiber and silk broadwoven fabrics:
Production (qtrly.), total #
mil. lin. yd..
Filament yard (100%) fabrics #
do....
Chiefly rayon and/or acetate fabrics
do...
Chiefly nylon fabrics
do....
Spun yard (100%) fab., exc. blanketing #.. do....
Rayon and/or acetate fabrics, blends
do....
Polyester blends with cotton
do....
Filament and spun yarn fabrics
do.. .
Manmade fiber gray goods, owned by weaving
mills:
Ratio, stocks to unfilled orders, end of period
Prices, manufacturer to mfr., f.o.b. mill:
50/50 poly ester /carded cotton printcloth, gray,
48", 3.90 yds./lb., 78x54-56
$ per yd..
Manmade fiber manufactures:
Exports, manmade fiber equivalent
mil. Ibs..
Yarn, tops, thread, cloth
do....
Cloth, woven
do....
Manufactured prods., apparel, furnishings do....
Imports, manmade fiber equivalent
do....
Yarn, tops, thread, cloth
do....
Cloth woven
.
do..
Manufactured prods., apparel, furnishings do....
Apparel, total
do....
Knit apparel
do.
WOOL AND MANUFACTURES
Wool consumption, mill (clean basis):
Apparel class
mil. lb..
Carpet class
do.
Wool imports, clean yield
do....
Duty-free (carpet class)
do....
Wool prices, raw, shorn, clean basis, delivered to
U.S. mills:
Domestic—Graded territory, 64's, staple 2-3/4"
and up
cents per lb
Australian, 64's, Type 62, duty-paid
do....
Wool broadwoven goods, exc. felts:
Production (qtrly.)
mil. lin. yd..
FLOOR COVERINGS
Carpet, rugs, carpeting (woven, tufted, other),
shipments, quarterly
mil. sq. yds..
379.8
311 1
!52.5
r
968
4
541c
12.2
r
r
4.3
3.9
57
0 30
035
034
040
480
494
420
447
384
432
409
38 7
3.8
800
126.9
821
1134
775
1010
689
1020
1 0174
1 105 4
'2423
8898
9395
2240
816 6
959 4
183 3
1 001 5
1 143 9
2177
11.1
343
12.6
373
17.7
348
184
272
289.3
2870
104.1
345 4
129^9
383.3
324 3
158.9
312.7
285 4
1497
2893
287 0
104 1
17394
6386
1079
1130
9470
807
6731
1218
16463
609 1
1008
1050
912.4
776
658.2
99 1
15607
5740
929
872
8688
725
6170
969
028
027
0.472
0.510
0.476
0.488
0.491
0.486
0.482
0.476
0.490
0.494
0.513
0.551
0.593
0.575
596.58
371.44
228.63
225.13
524.97
10220
6458
422.79
360.41
18450
771.54
418.64
249.77
352.91
47.25
2942
18.58
17.83
69.55
3531
21.13
34.24
70.85
3784
23.74
33.01
36.39
7.83
496
28.57
23.95
920
39.62
983
6 43
29.79
24 13
12 11
69.01
36 17
19.02
32.84
37.37
859
602
28.78
2360
1166
64.85
3480
20.89
30.05
540.64
9748
6728
444.16
378.52
18774
59.36
2908
16.04
30.28
39.90
771
4 88
32.18
27.28
1451
46.72
864
560
38.09
32.39
1685
55.92
940
641
46.52
4070
2181
58.44
3080
17.39
27.63
57.69
790
584
49.79
4403
2330
6379
3577
22.00
28.02
50.18
755
569
42.64
3762
1938
63.29
3315
20.95
30.14
52.11
796
5 72
44.15
3826
1920
75.94
4366
27.14
32.28
49.19
745
5 57
41.73
36 10
18 89
64.97
3564
20.92
29.33
40.10
727
5 12
32.83
2773
1208
6427
3700
21.97
2726
35.46
736
506
2910
2274
8 77
106.5
105
42.3
22.0
1135
91
56.5
260
113
4
10
6.1
31
102
08
4.9
16
98
09
51
23
11
4
4
09
46
22
92
07
57
33
83
06
45
30
4
75
4
07
53
30
84
09
48
20
77
07
41
12
108
08
39
12
90
06
36
15
10 1
06
40
16
2 18
2.77
245
3.09
238
2.92
253
3.10
2 56
3.06
231
2.99
225
3.10
233
3.21
245
3.11
251
3.06
253
3.11
2 53
3.06
253
3.20
2 53
321
4
r
l!7.4
1,206.0
1 082.2
Women's, misses', juniors' apparel cuttings: @
Coats
thous. units
17 394
Dresses
do
169 697
Suits (incl. pant suits, jumpsuits)
do.... rr25,275
Blouses
thous. dozen..
24,932
r
Skirts
do....
5,304
See footnotes at end of tables.
19 169
168 405
21,101
25,711
6,148
4
33.6
33.9
2934
2585
4
222
r
2530
2773
APPAREL
1 142 1323
15 913 17 430
2,057
1,786
2,410
2,166
630
456
1305
18 235
2,192
2,224
530
1433
17 327
1,825
2,199
480
1712
14847
1,390
2,152
438
1803
15553
1,469
1,987
462
5.9
30
818
r
379.3
r
022
8
402
18.4
272
65898
2,414.3
3964
425.2
3,531.9
338.4
2,426.6
398.9
5
4
1032
4 1363 37253
42823
4 148 2
1 014 4 8673
mil. lb..
do....
do....
do
do....
4
914
1628
12903
1,533
1,803
408
2313 1 962 1 926
13 177 11 953 11 993
1957
2,357 1954
2,246 r2,349
2,216
548
570
573
1 589
9 785
1,391
2,117
1 133
9 289
1 190
1,842
0.510
253
309
SURVEY OF CURRENT BUSINESS
S-36
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS
1979
1980
1980
Jan.
Annual
March 1981
Feb.
Mar.
Apr.
May
June
1981
July
Aug.
Sept.
Oct.
Nov.
Dec.
1,203
1,428
11,419
18,249
2,972
21,851
1,262
1,739
11,403
22,061
3,060
20,593
1,467
1,810
12,567
18,745
3,190
24,182
1,236
1,506
10,696
15,982
2,831
21,575
1 145
1,295
8224
13,221
2288
19,898
Jan.
Feb.
TEXTILE PRODUCTS—Continued
APPAREL—Continued
Men's apparel cuttings: @
Suits
thous units..
Coats (separate), dress and sport
do....
Trousers (separate) dress
do
Slacks (jean cut), casual
do....
Shirts dress and sport
thous doz
Hosiery. shiDments
thous. doz. pairs..
r
!5 935
14,329
r
!24 688
r
208,368
r
38 895
290,453
14,511 1,280 1,210
1,261
1 187 1,327
17,981
1,160
1,260
1,429
1,740
1,643
122 706 '9710 r9,943 '11 133 '10 861 10 322
211,328 15,935 17,194 '21,565 18,046 16,866
37070 '3386 '3369 '3703 '3307 '3135
260,479 22,392 20,685 21,675 23,254 20,496
1,116
1,752
10,072
19,370
3,370
23,995
817
1,219
6356
14,094
2459
24,580
TRANSPORTATION EQUIPMENT
AEROSPACE VEHICLES
U S Government
do
Sales (net) receipts or billings atrly total
U S Government
do
do
Backlog of* orders end of period $
U S Government
Aircraft (complete) and parts
do
do
do
'65 208
'28 107
'59611
'46 173
'23 229
'78,259
'36 136
'41 286
'9 198
Missiles, space vehicle systems, engines, propul'7387
sion units and parts
mil $
Other related operations (conversions, modifica'10 725
tions) products services
mil $
Aircraft (complete);
Shipments . . . . .
do.... 11,186.1
77327
Airframe weight
thous Ib
6149
Exports commercial
mil $
13,120.4
97327
'8250
636.0
5055
270
17308
7,518
16771
14,405
5,742
'18 421
'7*391
'17 056
10 819
'5598
'66 826
'33 053
'33 609
'7975
19 342
'6498
18616
'14 799
'5,693
'89,339
'34 625
46953
10878
'6949
'6,756
6,740
'9558
'9,687
9,877
1,100.2 1,187.6
9 118
8081
786
768
92,242
36401
48,039
12 190
1,210.9
8975
706
1,275.3
9,084
709
1,041.3
7,397
640
1,041.3
7,851
607
717.1 1,305.0 1,191.1 1,232.1 1,182.5
5,571 10,343 '8,613
8,487
8,752
726
705
522
1,020
792
MOTOR VEHICLES (NEW)
Passenger cars:
Factory sales (from U.S. plants), total
Domestic
Retail sales, total, not seasonally adj
Domestics § ...
Imports §
Total seas adjusted at annual rate
Domestics §
Imports §
Retail inventories, end of mo., domestics:
Not seasonally adjusted
Seasonally adjusted §
To Canada
Imports (BuCensus) complete units
From Canada total
T norts 'n 1
rfo
t'
11 «innn«inrpd
Trucks and buses:
Factory sales (from U S plants) total
Domestic
thous
do
Retail sales, seasonally adjusted:
Light-duty up to 14 000 Ibs GVW
do
Medium-duty 14 001-26 000 Ibs GVW
do
Heavy-duty, 26,001 Ibs. and over GVW
do....
Retail inventories, end of period, seasonally
adjusted
thous..
Imports (BuCensus), including separate chassis
Registrations, fl new vehicles, excluding buses not
Truck trailers and chassis, complete (excludes
detachables) shipments
number
Vans
do .
Trailer bodies (detachable) sold separately
do
'648
470
178
'9.7
7.0
2.6
764
544
220
10.5
7.5
3.0
1,421
1,241
2.1
1,335
1,124
1.8
8,980
6,582
2399
572
516
743
541
202
8.0
5.9
2.1
518
462
697
499
198
7.2
5.3
2.0
544
496
702
511
191
7.4
5.3
2.2
432
400
772
542
230
9.0
6.5
2.5
299
280
686
487
199
8.9
6.7
2.1
529
487
672
486
186
8.5
6.3
2.2
'675
623
847
664
183
9.2
6.8
2.4
'560
517
698
530
169
9.3
6.8
2.5
'490
452
650
472
178
8.9
6.4
2.5
1,691
1,667
'26
779 16
590.95
30018
671.2
10357
2351
1,448
1,350
2.5
'607 80
'509.13
3314 1
594.6
8761
2469
1,598
1,462
2.0
4943
37.33
279.5
48.6
4
753
4
203
1,610
1,437
22
6332
51.26
286.6
51.5
8
701
8
196
1,567
1,404
24
7244
62.62
2881
61.6
5
801
«220
1,585
1,409
2.9
6938
58.95
295.1
47.2
*787
4
222
1,598
1,423
3.2
6021
51.35
294.3
51.3
4
733
4
215
1,628
1,450
3.3
5192
42.94
307.7
52.6
4
676
4
199
1,507
1,417
2.6
3104
27.09
277.6
38.8
5
716
5
216
1,337
1,330
2.4
2261
18.78
230.3
21.8
5
704
5
215
1,373
1,332
2.6
4164
35.48
252.8
41.9
4
702
4
212
1,390
1,328
2.3
5839
51.09
276.9
66.1
5747
5
196
1,440
1,351
2.4
4695
39.78
271.8
63.3
4
730
4
187
1,448
1,350
2.5
4046
32.45
253.4
49.9
4
711
4
188
3037
2741
1667
1464
165
148
176
157
169
148
130
113
109
93
104
83
107
88
'84
73
134
120
186
168
155
140
149
132
'2 861 0 1 963 5 2143
100
'151 6
'92 3
175.7
17.8
'223.2
1857
93
15.5
1749
81
14.7
1498
74
13.1
148.7
57
12.6
166.7
74
14.1
177.1
74
15.2
156.5
81
16.9
147.9
90
15.3
143.1
71
14.3
151.7
63
12.9
145.7
66
13.6
153.0
86
13.5
575.2
thous..
do....
do
2
649
578
895
670
225
9.6
7.1
2.5
6,400
5,840
do....
do
do....
2
619
563
812
592
220
10.8
7.9
2.9
8,419
7678
10,559
'8,232
2329
Inventory-retail sales ratio domestics §
3
513
468
806
588
218
11.9
8.8
3.2
thous..
• do. .
do....
do....
do
. . mil..
do....
do
3
'803.4
259 44
574.0
189 11
788.9
1881
768.2
1694
734.1
1894
730.7
1745
699.3
1551
612.0
1640
578.0
1542
522.7
1333
524.1
13.21
554.2
14.94
570.5
1408
590.5
1408
974 13
1 133 31
9740
9906
10061
10505
9813
92.82
108.95
90.89
89.86
110.44
77.93
62.17
3472
2477
209 522
138,484
9 154
14 700
124 862
77,785
7 226
13951
4
233
8
210
12220 12197
7,081
7,662
486
644
1 423 1 145
5
220
4
221
4
207
4
211
13156 11876 10337 10,138
6,318
6,364
7,493
8,025
770
509
631
509
883
1 262 1 493 1 348
S
222
5
196
7,294
4,080
258
820
8,435
5,404
231
840
4
190
5
185
4
190
4
191
9,065
5,857
754
1 179
10,429
7,021
767
1082
7,368
6956
2,047
1,847
59,378
53,389
4945
4574
3,930
3,230
57655
51,337
5,530
5 151
4,722
4,722
53,805
47,866
1 177
8.8
93.61
79.09
1 172
8.7
9306
79.38
9,439 10,276
6,088 '6,392
840
'827
1053 '1 443
455
RAILROAD EQUIPMENT
Freight cars (new), for domestic use; all railroads
and private car lines (excludes rebuilt cars and
cars for export):
Shipments
number
New orders
. .
Equipment manufacturers
Unfilled orders end of period
Equipment manufacturers
do....
do
do
do
Freight cars (revenue), class 1 railroads (AAR): $
Held for repairs % of total owned
Average per car
See footnotes at end of tables.
tons
90021
83931
119,291
113 060
119 201
112749
1217
80
9447
7762
7903
85920
7835
8795
7440
8 224
80 357
7365
3,776
3,471
45,390
7,010
3,776
6,310
3471
40 140
53805 116 458 109 406 100 955
47866 109 776 104 045 96 165
1 168
88
92 56
7924
1205
81
9366
7770
1202
84
9350
7780
1 199
81
9353
7801
7893
7 546
5,501
2851
91940
84847
8073
7484
5,744
3,882
87277
78,911
7902
7521
3,144
3,144
79486
71,701
5890
5455
3,393
3,393
75284
67,934
6,994
6158
2,797
2,531
69432
62,652
1201
81
9384
7815
1 195
8.1
9374
7846
1 192
8.3
9351
79.48
1 186
8.7
9331
78.67
1 184
8.8
9327
78.75
6,947
6596
4,406
4,406
66,007
59,806
1 180
8.9
9306
78.83
1 168
8.8
'9256
'79.24
1 166
8.1
479
SURVEY OF CURRENT BUSINESS
March 1981
S-37
FOOTNOTES FOR PAGES S-l THROUGH S-36
General Notes for all Pages:
r
p
e
c
Revised,
Preliminary,
Estimated,
Corrected.
Page S-l
Page S-7
1. Estimates (corrected for systematic biases) for Jan.-Mar. and Apr.-June 1981 based on
1. Annual average computed by BEA.
planned capital expenditures of business. Planned capital expenditures for the year 1981 ap§ For actual producer prices of individual commodities see respective commodities in the
pear in the article on plant and equipment expenditures in this issue of the SURVEY.
Industry section beginning p. S-22. All data subject to revision four months after original
t The estimates for plant and equipment expenditures have been revised. An article publication.
describing that revision and containing revised estimates for 1947-77 begins on p. 24 of the
t Revised series. Stage-of-processing producer price indexes have been revised back to
Oct. 1980 SURVEY.
1976 to reflect updated industry input-output relationships and improved classification of
11 Data for the individual durable and nondurable goods industries appear in the Mar., some products.
June, Sept., and Dec. issues of the SURVEY.
# Includes data for items not shown separately.
$ Effective Mar. 1980 SURVEY, data have been revised back to 1967 to reflect new
seasonal factors. Effective Feb. 1981, data have been revised back to 1976 to reflect new
Page S-2
seasonal factors.
t Revised series. Estimates of personal income have been revised as part of the 1980
* New series. Data back to 1975 will be shown in the 1979 BUSINESS STATISTICS.
benchmark revision of the national income and product accounts. An article describing that
revision appears in the Dec. 1980 SURVEY. Data for 1976-79 will be published in a separate
supplement to the SURVEY. Pre-1976 data will be published in The National Income and
Page S-8
Product Accounts of the United States, 1929-76: Statistical Tables.
$ Includes inventory valuation and capital consumption adjustments.
1. Computed from cumulative valuation total.
# New series. Detailed descriptions begin on p. 18 of the Nov. 1979 SURVEY. See note "t"
2. Data shown here are based on 1980 seasonal factors. Effective Feb. 1981, data are no
for this page for information on historical data.
longer seasonally adjusted.
§ Monthly estimates equal the centered three-month average of personal saving as a
If Beginning Jan. 1979 SURVEY, monthly and annual data have been restated to reflect the
percentage of the centered three-month moving average of disposable personal income.
purchasing power of the dollar as measured by finished goods; comparable data for periods
# Includes data for items not shown separately.
prior to November 1977 will be shown in the 1979 BUSINESS STATISTICS.
U Revised data for 1976-78 will be shown in the 1979 BUSINESS STATISTICS.
$ Beginning Jan. 1978, based on CPI-U; see note "II" for p. S-6.
# Includes data for items not shown separately.
§ Data for Jan., May, July, and Oct. 1980, and Jan. 1981 are for five weeks; other months
Page S-3
four weeks.
1. Based on data not seasonally adjusted.
@ Data for new construction have been revised back to Jan. 1975 and are available from
H See note "t" for p. S-2.
the Bureau of the Census, Washington, D.C. 20233.
# Includes data not shown separately.
@@ Monthly revisions back to Jan. 1975 will be shown in the 1979 BUSINESS
$ Revised series. Data for both the manufacturing and retail sectors have been revised. STATISTICS.
For manufacturing see note "t" for p. S-4. For retail see note "t" for p. S-10.
$$ Monthly data back to Jan. 1970 on the 1972=100 base will be shown in the 1979
t See note "f" for p. S-4.
BUSINESS STATISTICS.
§ See note "t" for p. S-10.
# New series. Data back to 1967 are available from the National Income and Wealth
Division, Bureau of Economic Analysis.
Page S-9
Page S-4
1. Based on data not seasonally adjusted.
$ Revised series. Data for both the manufacturing and retail sectors have been revised.
For manufacturing see note "t" for this page. For retail see note "t" for p. S-10.
t Revised series. Data revised back to 1958 to reflect (1) benchmarking of shipments and
inventories to the 1974, 1975, and 1976 Annual Surveys of Manufacturers, (2) recalculation
of new orders estimates, and (3) updating of the seasonal factors. A detailed description of
this revision and historical data appear in reports "Manufacturers' Shipments, Inventories,
and Orders" M3-1.7 (1958-1977), M3-1.8 (1967-1978), and M3-1.9 (1977-1979), available
from the Bureau of the Census, Washington, D.C. 20233.
§ See note "t" for p. S-10.
# New series. Data back to 1967 are available from the National Income and Wealth
Division, Bureau of Economic Analysis.
# Includes data for items not shown separately.
Page S-5
1. Based on data not seasonally adjusted.
t See note "t" for p. S-4.
# Includes data for items not shown separately.
$ Includes textile mill products, leather and products, paper and allied products, and
printing and publishing industries; unfilled orders for other nondurable goods industries are
zero.
U For these industries (food and kindred products, tobacco, apparel and other textile products, petroleum and coal, chemicals and allied products, and rubber and plastics products)
sales are considered equal to new orders.
1. Index as of Mar. 1, 1981: building, 298.0; construction, 315.0.
If Home mortgage rates (conventional first mortgages) are under money and interest rates
on p. S-15.
§ Data include guaranteed direct loans sold.
$ Source: Media Records, Inc. 64-City Newspaper Advertising Trend Chart.
@ Monthly data back to 1972 on the 1972=100 base are available upon request.
Page S-10
1. Advance estimate.
2. Effective Jan. 1979 data, sales of mail-order houses are included with department store
sales.
t Effective April 1980 SURVEY, retail trade data have been revised back to 1973. Effective
April 1979 S URVEY, data have been revised from 1967-1972. Revised data and a summary of
the changes are available from the Census Bureau, Washington, D.C. 20233.
# Includes data for items not shown separately.
Page S-ll
1. As of July 1.
2. The publication of the accounts receivable data has been suspended.
# Includes data for items not shown separately.
$ Revisions for Jan. 1977-Oct. 1979 appear in "Current Population Reports," Series P-25,
No. 870. Revisions for July-Dec. 1976 appear in "Populations: Estimates of the Population
of the United States and Components of Change—1940-79," P-25 No. 802 (June 1979),
Bureau of the Census.
t Effective July 1980 SURVEY, data have been revised based on March 1979 benchmark
Page S-6
levels and updated seasonal adjustment factors; they are not comparable with previously
published data. Effective Oct. 1979 SURVEY, data have been revised based on March 1978
1. Based on unadjusted data.
benchmark levels and updated seasonal adjustment factors; effective Oct. 1978 SJRVEY, data
2. This series has been discontinued.
have been revised to conform to the 1972 SIC and adjusted to March 1977 benchmark levels,
3. Includes bottled gas.
therefore, data are not strictly comparable with earlier periods. See "BLS Establishment
$ Compiled by Dun & Bradstreet, Inc.
Estimates Revised to March 1979 Benchmarks," in the July 1980 issue of Employment and
# Includes data for items not shown separately.
Earnings. See also Oct. 1979 and Oct. 1978 issues of Employment and Earnings for similar
§ Ratio of prices received to prices paid (parity index).
U Data through 1977 are for urban wage earners and clerical workers; beginning Jan. articles.
H Effective with the Jan. 1980 SURVEY, the labor force series reflect new seasonal factors.
1978, there are two indexes, all wage earners an.d clerical workers, revised (CPI-W), and all
urban consumers (CPI-U). These indexes reflect improved pricing methods, updated Data have been revised back to 1975; comparable monthly data for 1975-79 appear in the
expenditure patterns, etc.; complete details are available from the Bureau of Labor Statistics, Feb. 1980 issue of Employment and Earnings, U.S. Department of Labor, Bureau of Labor
Statistics.
Washington, D.C. 20212.
* New series. The participation rate is the percent of the civilian noninstitutional po# New series. Earlier data are available from The Bureau of Labor Statistics, Washington,
pulation in the civilian labor force. The employment-population ratio is employment as a
D.C.
20212.
percent of the total noninstitutional population, 16 years and over.
t Beginning Jan. 1978, CPI-U.
SURVEY OF CURRENT BUSINESS
S-38
Page S-12
t See corresponding note on p. S-ll.
§ Effective October 1978 SURVEY, includes data formerly shown separately under
ordnance and accessories.
@ Formerly shown as Electrical equipment and supplies.
II Production and nonsupervisory workers.
$ This series is not seasonally adjusted because the seasonal component is small relative to
the trend-cycle and/or irregular components and consequently cannot be separated with
sufficient precision.
Page S-13
t See note "t" on p. S-ll.
§ See note "§" on p. S-12.
@ See note "@" on p. S-12.
$ See note "$" on p. S-12.
f Production and nonsupervisory workers.
Page S-14
t See corresponding note on p. S-ll.
11 Production and nonsupervisory workers.
$ Earnings in 1967 dollars reflect changes in purchasing power since 1967 by dividing by
Consumer Price Index; effective Mar. 1979 SURVEY, data reflect new seasonal factors for the
CPI.
§ Wages as of Mar. 1, 1981: Common, $12.36; Skilled, $16.11.
# Includes data for items not shown separately.
@ Insured unemployment (all programs) data include claims filed under extended
duration provisions of regular State laws; amounts paid under these programs are excluded
from state benefits paid data.
@@ Insured unemployment as a percent of average covered employment in a 12-month
period.
March 1981
t Composition of the money stock measures is as follows:
Ml-A.—This measure is currency plus demand deposits at commercial banks. It is essentially the same as the old Ml except that it excludes demand deposits held by foreign commercial banks and official institutions.
Ml-B.—This equals Ml-A plus interest-earning checkable deposits at all depositary
institutions—namely NOW accounts, automatic transfer from savings (ATS) accounts, and
credit union share draft balances—as well as a small amount of demand deposits at thrift
institutions that cannot, using present data sources, be separated from interest-earning
checkable deposits.
A/2.—This measure adds to Ml-B overnight repurchase agreements (RP's) issued by commercial banks and certain overnight Eurodollars (those issued by Caribbean branches of
member banks) held by U.S. nonbank residents, money market mutual fund shares, and
savings and small-denomination time deposits (those issued in denominations of less than
$100,000) at all depositary institutions. Depositary institutions are commercial banks (including U.S. agencies and branches of foreign banks, Edge Act corporations, and foreign
investment companies), mutual savings banks, savings and loan associations, and credit
unions.
M3.—This measure equals M2 plus large-denomination time deposits (those issued in
denominations of $100,000 or more) at all depositary institutions (including negotiable
CD's) plus term RP's issued by commercial banks and savings and loan associations.
L.—This broad measure of liquid assets equals M3 plus other liquid assets consisting of
other Eurodollar holdings of U.S. nonbank residents, bankers acceptances, commercial
paper, savings bonds, and marketable liquid Treasury obligations.
$$ Includes ATS and NOW balances at all institutions, credit union share draft balances,
and demand deposits at mutual savings banks.
* Overnight (and continuing contract) RP's are those issued by commercial banks to the
nonbank public, and overnight Eurodollars are those issued by Caribbean branches of
member banks to U.S. nonbank customers.
@ Small time deposits are those issued in amounts of less than $100,000. Large time
deposits are those issued in amounts of $100,000 or more and are net of the holdings of
domestic banks, thrift institutions, the U.S. Government, money market mutual funds, and
foreign banks and official institutions.
# Includes data for items not shown separately.
Page S-15
1. Average for Dec.
2. Average for the year.
3. Daily average.
4. Beginning Jan. 1981, data are for top-rated only. Prior data cover a range of top-rated
and regional dealer closing rates.
# Includes data for items not shown separately.
§ For demand deposits, the term "adjusted" denotes demand deposits other than
domestic commercial bank and U.S. Government, less cash items in process of collection;
for loans, exclusive of loans to and Federal funds transactions with domestic commercial
banks and include valuation reserves (individual loan items are shown gross; i.e. before
deduction of valuation reserves).
II Adjusted to exclude domestic commercial interbank loans and Federal funds sold to
domestic commercial banks.
$ Data beginning Dec. 1978 reflect a reduction in the number of banks reporting (from
317 to 171) and changes in consolidation basis as well as content of several asset and liability
items. Unless otherwise stated, comparable data for earlier periods will be available later.
# New series. Beginning Dec. 1978, data are for all investment account securities;
comparable data for earlier periods are not available.
f Revised series. Data are now monthly averages and the coverage has been expanded.
Comparable data back to Dec. 1972 are available from the Federal Reserve Board,
Washington, D.C. 20551.
$$ Rates on the commercial paper placed for firms whose bond rating is Aa or the
equivalent. Data through Oct. 1979 show a maturity for 120-179 days. Beginning Nov. 1979,
maturity is for 180 days.
@ Data through Oct. 1979 show a maturity for 150-179 days. Beginning Nov. 1979,
maturity is for 180 days.
Page S-16
1. Data are for fiscal years ending Sept. 30 and include revisions not distributed to the
months.
t Beginning Jan. 1979 SURVEY, the consumer credit group has been completely
restructured; comparable data for periods prior to Nov. 1977 are available from the Federal
Reserve Board, Washington, D.C. 20551.
# Includes data for items not shown separately.
§ The Department of Health, Education, and Welfare was redesignated as the
Department of Health and Human Services by the Department of Education Organization
Act. Data for the months Jan.-Apr. 1980 include 4,798 million dollars in outlays by the
Department of Education.
Page S-17
1. Total for Jan.-May and Oct.-Dec.
§ Or increase in earmarked gold (-).
t The Federal Reserve has redefined the monetary aggregates. The redefinition was
prompted by the emergence in recent years of new monetary assets—for example, negotiable
order of withdrawal (NOW) accounts and money market mutual fund shares—and
alterations in the basic character of established monetary assets—for example, the growing
similarity of and substitution between the deposits of thrift institutions and those of commercial banks. Monthly data from 1959 to date are available from the Banking Section of
the Division of Research and Statistics at the Federal Reserve Board, Washington, D.C.
"20551.
Page S-18
1. Beginning Jan. 1981 data, U.S. Virgin Islands trade with foreign countries is included.
§ Number of issues represents number currently used; the change in number does not
affect the continuity of the series.
$ For bonds due or callable in 10 years or more.
# Includes data for items not shown separately.
@ Data may not equal the sum of the geographic regions, or commodity groups and
principal commodities, because of revisions to the totals not reflected in the component
items.
@@ Effective Feb. 1979 SURVEY, seasonally adjusted data have been revised to reflect
sums of commodity components; comparable data for periods prior to 1977 will be shown in
the 1979 BUSINESS STATISTICS.
Page S-19
1. See note 1 for p. S-18.
# Includes data not shown separately.
§ Data may not equal the sum of geographic regions, or commodity groups and principal
commodities, because of revisions to the totals not reflected in the components.
@ See note "@@" for p. S-18.
Page S-20
1. See note 1 for p. S-18.
# Includes data not shown separately.
Page S-21
1. Domestic trunk operations only (averaging about 90 percent of domestic total).
2. Annual total; quarterly or monthly revisions are not available.
3. Before extraordinary and prior period items.
4. For month shown.
5. Beginning Jan. 1979, data are based on a new sample of freight shipments for 1976. The
new indexes have been linked to the old indexes to maintain comparability.
6. Beginning Jan. 1977, data are for unlinked passenger trips.
7. Beginning Jan. 1980 data, another company is included.
8. Data are for six months, Jan.-June 1980.
# Includes data for items not shown separately.
§ Total revenues, expenses, and income for all groups of carriers also reflect nonscheduled
service.
$ Beginning Jan. 1977, defined as those having operating revenues of $50 million or more.
H Average daily rent per room occupied, not scheduled rates.
@ Beginning Jan. 1979, data include visits to Badlands and Theo. Roosevelt National
Parks (formerly classified as recreational areas). Beginning Jan. 1980, data include visits to
Channel Islands (formerly classified as a monument). Beginning June 1980, data include
visits to Biscayne (formerly classified as a monument). Beginning Dec. 1980, data include
visits to Katmai (formerly classified as a monument).
Page S-22
1. Reported annual total; monthly revisions are not available.
2. Data withheld to avoid disclosing operations of individual companies.
3. Beginning Jan. 1979, data include chemically-treated fertilizer and sodium nitrate
containing over 16.3% nitrogen by weight; not strictly comparable with data shown for
earlier periods.
4. Annual total for monthly data where available; not comparable with earlier periods.
5. See note "H" for this page.
6. Data beginning Jan. 1979 are for value of shipments and comprise three new product
categories. Comparable data for these new categories are not available prior to Jan. 1979.
However, the difference between total value of shipments and total factory sales (formerly
shown) is considered statistically insignificant.
# Includes data for items not shown separately.
§ Data are reported on the basis of 100 percent content of the specified material unless
otherwise indicated.
$ Monthly revisions, back to 1975 for some commodities, will be shown in the 1979
BUSINESS STATISTICS.
@ Monthly revisions for Oct. 1976-Feb. 1978 will be shown in the 1979 BUSINESS
STATISTICS.
H Data for Jan. 1977-June 1979 exclude potassium magnesium sulfate; not strictly
comparable with those shown for other periods.
Page S-23
1. Reported annual total, including Hawaii; monthly data are preliminary and subject to
change.
§ Data are not wholly comparable from year to year because of changes from one
classification to another.
@ Monthly revisions, for some series back to 1976, will be shown in the 1979 BUSINESS
STATISTICS.
Page S-24
1. See note "@@" for this page.
2. Crop estimate for the year.
3. Stocks as of June 1.
4. Stocks as of June 1 and represents previous year's crop; new crop not reported until
June (beginning of new crop year).
5. Previous year's crop; new crop not reported until Oct. (beginning of new crop year).
6. Data are no longer available.
§ Excludes pearl barley.
# Bags of 100 Ibs.
II Revised crop estimates for 1970-75 will be shown in the 1979 BUSINESS
STATISTICS.
@ Monthly revisions, for some series back to 1976, will be shown in the 1979 BUSINESS
STATISTICS.
@@ Data are quarterly except for June (covering Apr. and May) and Sept. (covering
June-Sept.).
Page S-25
1. Average for 11 months; price not available for Dec.
2. Effective Mar. 1979, prices are for Central U.S. and Los Angeles; comparability not
affected.
3. Average for nine months; price not available for Apr.-June.
4. Prices for Jan.-Mar. 1979 are estimated; actual price not available. Annual average for
1979 is based on actual price (Apr.-Dec.).
§ Cases of 30 dozen.
H Bags of 132.276 Ibs.
$ Monthly revisions back to Jan. 1975 will be shown in the 1979 BUSINESS
STATISTICS.
@ Monthly revisions back to 1976 will be shown in the 1979 BUSINESS STATISTICS.
Page S-26
1. Beginning Sept. 1979, estimated prices are derived from a different source and are not
comparable with those shown for earlier periods. Annual average for 1979 represents Sept.Dec.
2. Crop estimate for the year.
§ Monthly data reflect cumulative revisions for prior periods.
@ Producers' and warehouse stocks.
H Factory and warehouse stocks.
Page S-27
1. Average for Jan.-May.
2. Annual total; monthly revisions are not available.
3. Average for July-Dec.
4. Average for Jan.-Aug.
# Totals include data for types of lumber not shown separately.
S-39
SURVEY OF CURRENT BUSINESS
March 1981
Page S-28
1. Annual data; monthly revisions not available.
2. Less than 500 short tons.
3. Effective Jan. 1980, data are no longer available.
Page S-29
1. Annual data; monthly revisions are not available.
2. For month shown.
3. Copper refinery production from domestic and foreign ores are not shown to avoid
disclosing information for individual firms. The source reports 79,039 metric tons of
domestic ores and 14,623 metric tons of foreign ores for the period July-Sept. 1980.
Page S-30
1. Data beginning Jan. 1978 exclude stocks of lead base bullion in transit and at refineries.
2. Less than 50 tons.
3. Data are for five weeks; other months 4 weeks.
4. For month shown.
5. Data withheld to avoid disclosing information for individual companies in the 4th
quarter of 1979. Annual total for 1979 is the sum of available data.
6. Effective July 1980 SURVEY, data are revised and shown on a new base. Revised data
are not comparable to previously published data.
H Includes secondary smelters' lead stocks in refinery shapes and in copper-base scrap.
@ All data (except annual production figures) reflect GSA remelted zinc and zinc
purchased for direct shipment.
# Includes data not shown separately.
t Revised series. The sample size has been restored to 100 firms and the base has been
changed to 1977=100.
* New series. These indexes are based on shipments of hydraulic and pneumatic products
reported by participating members of the National Fluid Power Association. Data back to
1959 are available upon request.
Page S-31
1. Reflects revisions not available by months.
2. Effective Jan. 1980, total stocks for bituminous coal and lignite exclude residential and
commercial stocks and are not comparable with data shown for earlier periods.
3. Data are available back to Oct. 1977.
4. Beginning Jan. 1979, data reflect coverage of additional processing facilities; not
strictly comparable with data shown for earlier periods.
# Includes data for items not shown separately.
@ Beginning July 1977, data include shipments to mobile home and travel trailer
manufacturers (formerly excluded); they are not directly comparable with data for earlier
periods.
# New series. Annual data prior to 1978 and monthly data prior to April 1979 are
available upon request.
§ Includes nonmarketable catalyst coke.
11 Includes small amounts of "other hydrocarbons and hydrogen refinery input,' 1 not
shown separately.
Page S-32
1. Less than 50 thousand barrels.
2. See note 4 for p. S-31.
3. Reported annual totals; revisions not allocated to the months.
4. See note "H" for this page.
H Prices are mid-month and include taxes; comparable prices prior to Jan. 1979 are not
available.
# Includes data for items not shown separately.
Page S-33
1. Reported annual total; not distributed to the months.
2. Effective Jan. 1980, data are no longer available.
3. Average for 11 months; no price for Aug.
H Consumption by 525 daily newspapers reporting to the American Newspaper
Publishers Association.
§ Monthly data are averages of the 4-week periods ending on the Saturday nearest the end
of the month; annual data are as of Dec. 31.
$ Data are monthly or annual totals. Formerly weekly averages were shown.
Page S-34
1. Reported annual total; revisions not allocated to the months.
2. Crop for the year.
3. Data cover five weeks; other months, four weeks.
4. First-of-the-month estimate of the 1980 crop.
5. Data are not available prior to Jan. 1980.
* New series. Data for finishing mills have replaced data for weaving mills, which are no
longer available.
# Includes data for items not shown separately.
11 Cumulative ginnings to the end of month indicated.
§ Bales of 480 Ibs.
SURVEY OF CURRENT BUSINESS
S-40
Page S-35
1. Effective Jan. 1, 1978, includes reexports, formerly excluded.
2. Effective 1st quarter 1977, data are not directly comparable with earlier periods.
3. Average for crop year; Aug. 1-Jul. 31.
4. For five weeks; other months four weeks.
5. Monthly average.
6. Average for 11 months; no price for Oct.
7. Less than 500 bales.
§ Bales of 480 Ibs.
II Based on 480-lb. bales, preliminary price reflects sales as of the 15th; revised price
reflects total quantity purchased and dollars paid for the entire month (revised price includes
discounts and premiums).
# Includes data not shown separately.
@ Effective Apr. 1979 SURVEY, data include 600 additional firms; comparable data back
to Jan. 1977 (except for slacks, jean cut, casual, shown on p. S-36) will appear in the 1979
BUSINESS STATISTICS.
March 1981
Page S-36
1. Annual total includes revisions not distributed to the months.
2. Estimates of production, not factory sales.
3. Effective Jan. 1980, passenger vans previously reported as passenger cars are now included with trucks.
4. Excludes one state.
5. Excludes two states.
6. Excludes three states.
7. Excludes four states.
8. Effective Jan. 1979, data are not directly comparable with earlier periods because of the
inclusion of Volkswagens produced in the U.S.
@ See note "@" p. S-35.
# Total includes backlog for nonrelated products and services and basic research.
§ Domestics comprise all cars assembled in the U.S. and cars assembled in Canada and
imported to the U.S. under the provisions of the Automotive Products Trade Act of 1965.
Imports comprise all other cars.
if Courtesy of R.L. Polk & Co.; republication prohibited.
$ Excludes railroad-owned private refrigerator cars and private line cars.
INDISPENSABLE
Economic Information
from the Bureau of Economic Analysis
SURVEY OF
CURRENT BUSINESS
BUSINESS
CONDITIONS DIGEST
The journal of record and
research of the Bureau of
Economic Analysis.
Published monthly.
The Wall Street Journal said
it was "the single most useful
government publication, in the
opinion of many analysts."
(March 21, 1977)
Published monthly.
ENTER MY SUBSCRIPTION TO
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Survey of Current Business.
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Business Conditions Digest.
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Total
MAIL ORDER FORM TO:
Superintendent of Documents
Government Printing Office
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or Telephone order desk:
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Charge to:
DEPOSIT ACCOUNTD, MASTER CHARGED, VISA D
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Company Name
I I I I I 1 I I I I I I I I I I I I
Individual's Name—First. Last
Street address
City
i i i
State
ZIP Code
I I I I I I I I I
(or Country)
U.S. DEPARTMENT OF COMMERCE
Bureau of Economic Analysis
INDEX TO CURRENT BUSINESS STATISTICS, Pages S1^
SECTIONS
General:
Business indicators
Commodity prices
Construction and real estate
Domestic trade
1-6
6-8
8,9
9-11
Labor force, employment, and earnings
Finance
Foreign trade of the United States
Transportation and communication
11-15
15-18
18-20
21
Industry:
Chemicals and allied products
Electric power and gas
Food and kindred products; tobacco
Leather and products
22
23
23-26
27
Lumber and products
Metals and manufactures
Petroleum, coal, and products
Pulp, paper, and paper products
27,28
28-31
31,32
32, 33
Rubber and rubber products
Stone, clay, and glass products
Textile products..
Transportation equipment
33
34
34-36
36
INDIVIDUAL SERIES
Advertising
Aerospace vehicles
Agricultural loans
Air carrier operations
Air conditioners (room)
Aircraft and parts
Alcohol, denatured and ethyl
Alcoholic beverages
Aluminum.
Apparel
Asphalt
Automobiles, etc
9,14
36
15
21
31
5,36
22
9,23
29
2-7,9-13,35,36
31,32
2-7,9,10,17,19,20,36
Banking
Barley
Battery shipments
Beef and veal
Beverages. .
Blast furnaces, steel mills
Bonds, issued, prices, sales, yields
Brass and bronze
Brick
...,
Building and construction materials
Building costs
Building permits
Business incorporations (new), failures
Business sales and inventories
Butter
15
24
30
25
7,9,19, 20,23
4,5
17,18
29
34
2-5,9
9
8
6
3,4
23
Cattle and calves
25
Cement and concrete products
7,9,34
Cereal and bakery products
7
Chain-store sales, firms with 11 or more stores. . . 10,11
Cheese
:
23
Chemicals
3-5,7,12,13,17,19,20,22
Cigarettes and cigars
26
Clay products
3,4,7,34
Coal
3,7,19,31
Cocoa
20,25
Coffee
20,25
Coke
31
Combustion, atmosphere, heating equipment
30
Communication
1,17,21
Confectionery, sales
25
Construction:
Contracts
8
Costs
,
9
Employment, unemployment, hours, earnings. . 11-14
Highways and streets
8
Housing starts
8
Materials output indexes
9
New construction put in place
8
Consumer credit
16
Consumer goods output, index
2
Consumer Price Index
6
Copper
29
Corn
24
Cost of living (see Consumer Price Index)
6
Cotton, raw and manufactures
6,19,34,35
Cottonseed oil
26
Credit, short- and intermediate-term
16
Crops
6,24,26,34
Crude oil.
3,31
Currency in circulation
17
Dairy products
Debt, U.S. Government
DeBator, PCE
Department stores, sales, inventories
Deposits, bank
Dishwashers.
Disposition of personal income.
Disputes, industrial
Distilled spirits
Dividend payments
Drugstores, sales
6,7,23,24
16
2
10,11
15,17
31
2
15
23
2,17
10,11
Earnings, weekly and hourly
13,14
Eating and drinking places
10,11
Eggs and poultry
6,7,25
Electric power
3,7,23
Electrical machinery and equipment
3—5,
7,12,13,17,19,20,30,31
Employee-hours, aggregate, and indexes
13
Employment
11,12
Explosives
22
Exports (see also individual commodities)
1,18,19
Failures, industrial and commercial
6
Farm prices
6,7
Farm wages
14
Fats and oils
7,19,20,26
Federal Government
finance
16
Federal Reserve banks, condition of
15
Federal Reserve member banks
15
Fertilizers
7,22
Fire losses
9
Fish
25
Flooring, hardwood
28
Flour, wheat
25
Food products
2-7,9,12,13,17,19,20,23-26
Foreign trade (see also individual commod.)
18-20
Freight cars (equipment)
36
Fruits and vegetables
6,7
Fuel oil
6,31,32
Fuels
3,6,7,19, 20,31,32
Furnaces
31
Furniture
3,7,10,12,13
Gas, output, prices, sales, revenues
Gasoline
Glass and products
Glycerin
Gold
Grains and products
Grocery stores
Gypsum and products.
3,6,7,23
32
34
22
17
6,7,19,24,25
10,11
7, 34
Hardware stores
10
Heating equipment
7, 30
Help-wanted advertising index
14
Hides and skins
7,27
Highways and streets
8
Hogs
25
Home electronic equipment
7
Home Loan banks, outstanding advances
9
Home mortgages
9
Hosiery
36
Hotels and motor-hotels
21
Hours, average weekly
12,13
Housefurnishings
2,4-6,9,10
Household appliances, radios, and television sets.
2,
7,10,30
Housing starts and permits
8
Imports (see also individual commodities)
1,19,20
Income, personal
2
Income and employment tax receipts
16
Industrial production indexes:
By industry
3
By market grouping
2, 3
Installment credit
11,16
Instruments and related products
3,4,12,13
Insurance, life
16
Interest and money rates
15
International transactions of the United States. . .
1
Inventories, manufacturers* and trade
3-5,9,10
Inventory-sales ratios
4
Iron and steel
3,7,9,17,19,20,28,29
Labor advertising index, stoppages, turnover
14,15
Labor force
11
Lamb and mutton
25
Lead
29, 30
Leather and products
3,7,12,13,27
Life insurance
16
Livestock
6,7,25
Loans, real estate, agricultural, bank (see also
Consumer credit)
9,15
Lubricants
31,32
Lumber and products
3,7,9,12,13,27,28
Machine tools
30
Machinery
3-5,7,12,13,17,19,20,30
Mail order houses, sales
10
Manufacturers* sales (or shipments), inventories,
orders
4,5
Manufacturing employment, unemployment, production workers, hours, earnings
11-14
Manufacturing production indexes
2,3
Margarine
26
Meat animals and meats
7,19,20,25
Medical care
6
Metals
3-5, 7,12,13,17,19,20,28-31
Milk
24
Mining and minerals
1-3,7,11-14,17
Monetary statistics
17
Money and interest rates
15
Money supply
17
Mortgage applications, loans, rates
9,15,16
Motor carriers
21
Motor vehicles
2-4,6,10,17,19,20,36
National parks, visits
21
Newsprint
20,33
New York Stock Exchange, selected data
18
Nonferrous metals
3,5, 7,17,19,20,29,30
Oats
Oils and fats
Orders, new and unfilled, manufacturers'
Outlays, U.S. Government
24
7,19,20,26
5
16
Paint and paint materials
Paper and products and pulp
7,22
3-5,
7,12,13,17,20,32,33
Parity ratio
6
Passenger cars
2-4,6,7,9,10,17,19,20,36
Passports issued
21
Personal consumption expenditures
2
Personal income
2
Personal outlays
2
Petroleum and products. . . . 3-7,12,13,17,19,20,31,32
Pig iron
28
Plant and equipment expenditures
1
Plastics and resin materials
22
Population
11
Pork
25
Poultry and eggs
6,7,25
Price deflator, implicit (PCE)
2
Prices (see also individual commodities)
6-8
Printing and publishing
3,12,13
Private sector employment, hours, earnings
11-14
Producer Price Indexes
7,8
Profits, corporate
17
Public utilities
1-3,8,17,18,23
Pulp and pulpwood
32
Purchasing power of the dollar
8
Radio and television
2,10, 30
Railroads
1,14,18,21,36
Ranges
31
Rayon and acetate
35
Real estate
9,15,16
Receipts, U.S. Government
16
Refrigerators
31
Registrations (new vehicles)
36
Rent (housing)
6
Retail trade
3,4,6,10-14,16
Rice
24
Rubber and products (incl. plastics). 3-5,7,12,13,20,33
Saving, personal
2
Savings and loan assoc., new mortgage loans
9
Savings deposits
15
17
Securities issued
Security markets
17,18
Services
6, 12-14
25
Sheep and lambs
Shoes and other footwear
7,10, 11,27
17
Silver
26
Soybean oil
35
Spindle activity, cotton
Steel (raw) and steel manufactures
20, 28,29
28
Steel scrap
17
Stock market customer financing
18
Stock prices, yields, sales, etc
Stone, clay, glass products
3,4,7,12,13, 17,34
20,26
Sugar
22
Sulfur
22
Sulfuric acid
,
22
Superphosphate
Tea imports
26
Telephone and telegraph carriers
21
Television and radio
2,10,30
Textiles and products.... 3-5,7,12,13,17,19,20,34-36
Tin
30
Tires and inner tubes
7,33
Tobacco and manufactures
3—6,12,13,26
Tractors
30
Trade (retail and wholesale)
3,4,6,9-14
Transit lines, urban
21
Transportation
1,6,12-14,17,18,21
Transportation equipment. . . 2-5, 7,12,13,17,19,20,36
Travel
21
Truck trailers
36
Trucks (industrial and other)
30,36
Unemployment and insurance
11,14
U.S. Government bonds
15-18
U.S. Government
finance
16
U.S. International transactions
1
Utilities
1,3,6,8,17,18,23
Vacuum cleaners
Variety stores
Vegetable oils
Vegetables and fruits
Veterans' unemployment insurance
Wages and salaries
Washers and dryers
Water heaters
Wheat and wheat
flour
Wholesale trade
Wood pulp
Wool and wool manufactures
Zinc.
31
10,11
19,20,26
6,7
14
2,13,14
31
31
24,25
3,4,6,9,12-14
Jf
w>
30
UNITED STATES
GOVERNMENT PRINTING OFI
PUBLIC D O C U M E N T S
DEPARTMENT
W A S H I N G T O N . D.C. 2O4O2
OFFICIAL B i
In the fourth quarter
•
»
»
•
Real GNP increased 4 percent
GNP fixed-weighted price index increased 10 percent
Real disposable personal income increased 3 percent
Corporate profits before tax increased
Real GNP
1977
1978
1979
GNP Prices
1980
1981
1977
Disposable Personal Income
1978
1979
Corporate Profits With IVA and CCAdj
Percent
1001
1977
1978
1979
1980
1980
1981
1 9 7 7 1 9 7 8
1979
1981
@FedFRASER