Full text of Survey of Current Business : March 1983
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MARCH 1983
,
/ VOLUME 63 NUMBER
'"'
C0OTENTS
THE BUSINESS SITUATION
1
Summary of BEA Staff Paper
6
National Ineeme and Product Accounts Tables
7
Reconciliation and Other Special Tables
18
Plant and Equipment Expenditures, First and Second Quarters
and Second Half of 1983
19
*S*., Department of Commerce
Malcolm Baldrige / Secretary
Robert €L Dederiek / Under Secretary
for Economic
•Bureau of .B50n0mi€. Analysis '
• •
George Jaszi / Director
Capital Expenditures by Majority-Owned Foreign
Affiliates of U,S» Companies, 1983
ABaft H. Young / Deputy Director
25
Net Exports of Goods and Services, 1980-82
31
U.S. International Transactions, Fourth Quarter and Year 1982
Carol S. Carson / Editor-in-Chief,
Survey of Current Business
Manuscript Editor :Dannelel A. Grosvenor
Managing Editor ?Pfctti A. Trujillo
42
Staff Contributors to This Issue; Christopher L. Bach, Leo
M. Bernstein, Carol S. Carson, Anthony Eckman, Douglas
R. Fox, Bruce T. Grimm, Thomas M. Holloway, Eric R.
Johnson, Ralph Kozlow, J. Steven Landefeld, Daniel J.
Larkins, John Mon, John M» Hyan, Eugene P. Seskin,
Joseph C. Wakefield.
SURVEY OF CURRENT BCSIKES$V Published monthly by the Bureau
of Economic Aaalysis of the 113* Bep^rtpent of Commerce, Editorial correspondence should be addressed to the Editor-in-Chief,
Survey of Current Business, Bwean of Economic Analysis, U.S.
Department of Conimerce^ Washington, B.C. 20230.
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CURRENT BUSINESS STATISTICS
General
Industry
SI
S19
Footnotes
S33
Subject Index (Inside Back Cover)
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the BUSINESS SITUATION
REAL GNP increased at an annual
rate of about 4 percent in the first
quarter of 1983, after five consecutive
quarters of poor performance ending
with a 1-percent decline in the fourth
quarter of 1982. Inflation continued to
slow; the 3-percent increase in GNP
prices registered in the first quarter
was the lowest in over a decade.1 The
unemployment rate, at 10.2 percent
in February, remained near its
postwar high.
• Real personal consumption expenditures increased moderately—
about 2% percent at an annual rate.
Purchases of motor vehicles dipped,
after a large increase in the fourth
quarter in response to the introduction of subsidized interest rates (see
the following section on motor vehicles). Purchases of other durable
goods strengthened, in part reflecting
the revitalization of the housing
market. An increase in purchases of
gasoline, after two quarters of decline,
appears to have been related to declines in its price. Services continued
weak; within them, expenditures on
home heating declined, due to the unusually mild winter weather in some
parts of the country.
1. 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.
• Information on fixed investment
other than residential construction is
sketchy. It appears that real nonresidential construction increased, largely
due to construction of commercial
buildings other than offices. This category, which includes stores and warehouses, had declined steadily over the
past year. Weakness persisted in industrial construction and in oil well
drilling; public utility construction
was down again. In producers' durable equipment, motor vehicles
changed little and it appears that
other categories, in total, were down
about as much as in the fourth quarter of 1982, but less than earlier in
that year.
• As discussed in the section on
housing markets, real residential investment was up strongly, in large
part due to continued improvement in
the financial conditions affecting
housing.
• Little information is yet available
about the other components of final
sales—net exports and government
purchases. It appears that real exports and imports both were up, but
imports were up more. The increases
were in merchandise trade; investment income continued to decline, reflecting the fall in interest rates here
and abroad. The major factor in real
government purchases was a drop-off
in the price-support operations of the
Commodity Credit Corporation. In the
fourth quarter, farmers had responded to low market prices for crops by
placing substantial amounts—mainly
of soybeans, corn, cotton, and wheat—
under loan. In the first quarter, they
placed much less under loan.
• For the change in business inventories, reasonably complete information is available only for motor vehicles. Real motor vehicle inventories
changed little after having been run
down sharply in the fourth quarter;
the swing from liquidation made a
large positive contribution to the
change in GNP. The limited evidence
about other inventories suggests further liquidation in the first quarter.
• GNP prices as measured by the
fixed-weighted price index increased
at an annual rate of 3 percent. The
slowing from the fourth-quarter increase of 5 percent was attributable to
energy prices; among these, gasoline
prices resumed their downtrend. For
most other components, first-quarter
increases were in the range of 2 to 5
percent. Some of these increases differed noticeably from those registered
in the fourth quarter: food prices,
which had changed little in the fourth
quarter, increased about 2 percent in
the first; prices of residential structures had declined 5 percent in the
fourth quarter but increased moderately in the first; and prices of Federal purchases increased less than in
the fourth quarter, when a pay raise
for Federal employees had added
about 5 percentage points to the increase in prices.
Personal income
Personal income was up $21 billion
in the first quarter, the net result of
several increases and decreases in its
components.2 Wage and salary disbursements were up sharply—about
$21% billion. Disbursements in all
major industry groups shown in table
1 were up. A $6 billion increase in
manufacturing, centered in durable
goods, was the first sizable one in
over a year. Farm proprietors' income
2. Quarterly estimates in the national income and
product accounts are expressed at seasonally adjusted
annual rates, and quarterly changes in them are differences between these rates.
SURVEY OF CURRENT BUSINESS
declined $6 billion. Fourth-quarter
farm income had included a $6% billion step-up in subsidy payments by
the Commodity Credit Corporation; in
the first quarter, these payments decreased $3 billion. Also, farm receipts
were down; a decrease in farm production more than offset an upturn in
farm prices.
Personal interest income increased
$1% billion, after a $3% billion decline
in the fourth quarter. Transfer payments declined $2 billion, largely due
to declines in benefits paid under regular unemployment insurance programs and under social security. In
the fourth quarter, the increase in
social security payments had been unusually large, reflecting retroactive
payments and resumption of payments to college students; also, unemployment benefits had been stepped
up under the supplementary extended
benefits program authorized by the
Tax Equity and Fiscal Responsibility
Act of 1982. Personal contributions
for social insurance, which are subTable 1.—-Personal Income and Its Disposition:
Change From Preceding Quarter
[Billions of dollars; based on seasonally adjusted annual rates]
1983:
1982:
IV
4.5
Wage and salary disbursements..
Manufacturing
Other commodity-producing
Distributive
Services
,
,
Government and government enterprisesProprietors' income
,
-8.0
-.6
.4
7.1
5.6
10.6
,
7.5
3.1
Farm
Nonf arm
-3.6
Personal interest income
Transfer payments
Other income
r
....
3.3
,
Less: Personal contributions for social insurance
Persona] income
..,..,....
Less: Personal tax and nontax payments...
Impacts of legislation.......
..........
Other
-1.4
-6.2
4.8
1.4
-1.9
5.1
.1
3.7
31.5
20.9
5.3
-2.8
8.1
2.9
-9.2
12.1
Equals: Personal saving
in
26.2
18.1
24.1
-18.6
Less: Personal outlays
factors
6.0
1.8
2.0
7.7
4.0
44.8
Equals: Disposable personal income....
Addenda: Special
income—
16.8
21.5
-6.0
personal
Cost-of-living increases in Federal transfer payments
...
Social security base and rate changes (in
personal contributions for social insurance)
1.2
0
1.9
Subsidies to farmers
6.4
30
Federal pay raise
2.9
0
'Projected.
tracted in deriving the personal
income total, increased $3^ billion,
after no change in the fourth quarter.
An increase in the taxable wage base
from $32,400 to $35,700 accounted for
$2 billion, and the start of Federal
contributions to health insurance
under social security accounted for $1
billion, of the step-up.
Disposable personal income increased only $18 billion, or 3% percent
at an annual rate. However, the increase in prices paid by consumers
was even less, and real disposable
income increased 1J£ percent. In 1982,
quarterly changes in real disposable
income had ranged from a 2-percent
decline in the first quarter to a 3-percent increase in the second.
Personal outlays increased more
than disposable income, so that personal saving and the saving rate declined. The saving rate was down several tenths of a percentage point from
the 6.0 percent registered in the
fourth quarter.
March 1983
about 29 percent. In the latter part of
the quarter, sales of Japanese cars,
which make up the bulk of imports,
may have been held down by short
supplies. Shipments of cars to the
United States had slowed as Japanese
automakers complied with the agreed
limit of 1.68 million for the year
ending March 31, 1983. Japan has ex-
CHART 1
Retail Sales of New Passenger Cars
Million units
10
Motor vehicles
Motor vehicle output increased
about $6% billion (1972 dollars) in the
first quarter, following a $7% billion
decline in the fourth (table 2). The
first-quarter increase in motor vehicle
output accounted for about one-half of
the increase in GNP; the $14 billion
turnaround in motor vehicle output
accounted for about three-fourths of
the turnaround in GNP.
The turnaround in motor vehicle
output was in both autos and trucks;
output had been at very low levels in
the fourth quarter. Sales of motor vehicles declined slightly in the first
quarter, but remained above the
levels registered in the first three
quarters of 1982. Inventories changed
little after dropping sharply in the
fourth quarter.
Unit sales of new cars declined to
about 8.3 million (seasonally adjusted
annual rate), from 8.7 million in the
fourth quarter (chart 1). Earlier in
1982, sales had ranged from 7.5 to 8.0
million. Sales of both domestic and
imported cars were down in the first
quarter.
Imported car sales declined from
2.5 million to about 2.4 million, but
their share of total sales remained at
1979
1980
1981
1982
1983
Seasonally Adjusted at Annual Rates
Note.—The components may not add to the total because each
category was separately adjusted for seasonal variation. Data for
the most recent quarter are projected.
Data: Motor Vehicle Manufacturers Association of the United States,
Inc. and Ward's Automotive Reports.
U.S. Department of Commerce, Bureau of Economic Analysis
53-
March 1983
SURVEY OF CURRENT BUSINESS
in mortgage rates that began in mid1982, demand picked up. The commitment interest rate on 30-year levelpayment mortgages with an 80 percent loan-to-price ratio dropped from
almost 17 percent in early July to
below 14 percent by yearend. The
commitment rate continued down in
1983, dropping below 13 percent by
late February. Sales of new onefamily houses responded immediately,
increasing from an average of 366,000
(annual rate) in the second quarter of
1982 to 401,000 in the third, and to
525,000 in the fourth. Sales of existing
single-family homes turned up in the
fourth quarter, increasing to 2,133,000
from 1,893,000 in the third. Sales of
both new and existing single-family
homes continued up early in the first
Housing markets
quarter.
Improving sales and declining interThe residential investment compo- est rates encouraged builders to stepnent of real GNP, which had in- up their activity. Sales provided funds
creased $3.4 billion (39 percent at an for working capital and reduced the
annual rate) in the fourth quarter of inventory of unsold units from 8%
1982, increased even more sharply in months' supply in July to only 5%
the first. Single-family construction months' supply in January. Moreover,
accounted for about two-thirds of the interest rates on construction loans
increase, but multifamily construction fell, probably about in line with the
and the "other" component also prime rate. (The prime declined from
posted substantial gains. (The "other" 16% percent in July, to 11% percent
component includes additions and al- by yearend, and to 10% percent by
terations, brokers* commissions on the mid-March.)
sale of new and existing residences,
Reflecting these factors, housing
and mobile home sales.) The continstarts increased substantially in the
ued strengthening in residential investment was attributable, in large third and fourth quarters (chart 2).
part, to continued improvement in Unseasonably mild weather in Januthe financial conditions affecting ary helped boost starts to 1,707,000,
the highest level in more than 3
housing.
years, and 33 percent—a record
Housing demand had been de- month-to-month gain—above Decempressed by high mortgage rates and ber's level. Starts rose again in Februthe long recession. With the decline ary (to 1,756,000). The January-February average was 37 percent higher
Table 2.—Motor Vehicle Output
than the fourth-quarter level.
[Billions of 1972 dollars; seasonally adjusted annual rates]
The housing expansion is likely to
continue unless interest rates turn
Change from preceding quarter
sharply upward. Building permits
1981: IV
1982
1983: T
1983: T
rose for the sixth consecutive month
I
II
III
IV
in February. Moreover, mortgage
-2.1
10.1
-7.6
55.3
Output...
,.
,
,
. 47.3
1.0
6.5
funds appear to be ample. Net new
34.4
3.1
8.4
51
5.2
42.4
Autos . ..„
2.6
deposits received by savings and loan
12.9
1.7
16
2.5
1.4
12.9
Trucks
...
- . ..
1.0
associations increased by unprec47.0
6.4
-2.4
-1.2
6.6
-.9
55.5
Final sales
35.2
3.1
13
.4
5.5
-1.0
41.9
Autos
edented amounts in December and
.1
11.8
3.3
-1.1
1.1
13.6
Trucks
-1.6January with the authorization, effec12.5
-14.0
7.4
-.2
.2
84
2.0
Change in business inventories
tive December 14, of money market
9.7
-10.6
.5
2.1
6.2
Autos
,
-.8
-6.2
1
2.8
34
-.7
1.0
-2.2
1.2
Trucks
deposit accounts. Associations were
able to reduce borrowings by record
* Projected. Based on unit production in January and February and scheduled production for March, unit sales of autos
through the first 10 days of March and of trucks for January and February, and unit inventories for January and February.
amounts in both months and to build
NOTE.—For estimates through 1982: IV, see tables 1.14-1.15 and 1.16-1.17 of the National Income and Product Accounts
liquidity ratios to record levels.
Tables. Auto output includes dealers' margins on their used car transactions; truck output includes new trucks only.
tended the agreement to limit shipments to 1.68 million for a third year,
beginning April 1, 1983.
Domestic car sales declined to about
5.9 million in the first quarter from
6.1 million in the fourth. Fourth-quarter sales had been boosted by belowmarket installment loan rates—under
11 percent—offered by major automakers through their financial subsidiaries. In the first quarter, rates
about 1 percentage point higher were
offered. The net increase in new car
sales over the last two quarters has
been modest—not surprising in view
of the lackluster performance of real
disposable income and the continued
high unemployment rate.
Car production was stepped up to
5.9 million units (seasonally adjusted
annual rate) in the first quarter from
a very low level—4.7 million—in the
fourth. Production had been curtailed
in the fourth quarter, as automakers
worked down excessive inventories of
carryover 1982 models. Low production combined with increased sales reduced domestic car inventories from
1,481,000 (seasonally adjusted) at the
end of the third quarter to 1,193,000
at the end of the fourth. The ratio of
inventories to sales fell from 3.2 to
2.3, a ratio close to that usually considered desirable by the industry. To
prevent further inventory liquidation,
production was raised to the level of
sales in the first quarter, and inventories edged up to about 1,250,000 at
the end of February. Second-quarter
production is scheduled at about the
same level as in the first, indicating
that automakers are cautious about
prospects for an immediate strong recovery in sales.
Total new truck sales changed little
from the 2.6 million units (seasonally
adjusted annual rate) registered in
the fourth quarter. Sales of both light
domestic trucks (up to 10,000 pounds)
and "other" domestic trucks (over
10,000 pounds) increased slightly,
from 1.9 to 2.0 million and from 0.17
to 0.18 million, respectively. Sales of
imported trucks receded from the 3year high of 0.54 million reached in
the fourth quarter. The course of
truck production paralleled that of
cars: down in the fourth quarter as
excess inventories were liquidated,
and up in the first to maintain the inventory-sales balance.
March 1983
SURVEY OF CURRENT BUSINESS
•BBBBBBBBBBBBBHI CHART 2
Housing Starts
Millions of Units
2.5 fill
Preliminary estimates of corporate
profits for the fourth quarter of 1982
have been completed. Their compilation makes it possible to estimate corporate profits tax accruals for the
fourth quarter, rounding out the estimates of receipts and expenditures of
the government sector.
The 75-day revisions of the national
income and product accounts for the
fourth quarter are shown in table 3.
The revisions reduced the fourthquarter decline in real GNP from 2
percent to 1 percent. The largest revisions were upward in net exports
(largely in factor income) and downward in change in business inventories (larger liquidation in manufacturing).
1.0
1979
1980
1981
1982
1983
Seasonally Adjusted at Annual Rates
Data: Census.
The Fourth Quarter: Corporate
Profits and the Government
Sector
U.S. Department of Commerce, Bureau of Economic Analysis
Corporate profits
Table 3.—Revisions in Selected Component Series of the NIPA's, Fourth Quarter of 1982
Seasonally adjusted at annual
rates
45-day
estimate
75-day
estimate
Revision
Percent change
from preceding
quarter at annual
rates
45-day
estimate
75-day
estimate
Billions of current dollars
GNP
,, .
..
Net exports
Government purchasaes
.
3,101.4
3,108.2
6.8
1.7
2.6
2,031.5
336.9
99.8
442
.8
676.7
. .. .
Personal consumption expenditures
Nonresidential fixed investment ,
Residential investment
2,030.8
338.4
101.4
483
9.1
676.8
-.7
1.5
1.6
41
8.3
.1
9.4
8.3
25.0
9.3
6.6
33.6
16.3
16.3
.2
1.6
1.7
2.7
2,471.7
Personal income
..
. . . .
1,875.9
1,876.1
429.6
167.5
428.1
-1.5
8.4
3.1
6.8
2,626.9
Compensation of employees
... . ..
... . •
Corporate profits with inventory valuation and capital consumption
adjustments
. . . .
.... ....
...
Other
2,624.0
2.9
5.4
5.0
Billions of constant (1972)
dollars
GNP
..
1,473.9
..... ..
Personal consumption expenditures.
Nonresidential fixed investment
Residential investment
..
Net exports
Government purchases
...
..
.....
.
..
•• •
1,477.2
3.3
-1.9
—1.1
967.5
160.0
42.5
187
23.3
299.2
967.0
160.9
42.9
203
27.2
299.5
-.5
.9
.4
16
3.9
.3
4.8
-8.0
34.3
4.5
6.0
39.3
11.6
12.0
Index numbers, 1972= 1001
GNP implicit price deflator
, ..
GNP fixed-weighted price index
GNP chain price index.
..
..
210.42
218.5
210.42
218.6
0
.1
3.7
4.6
4.9
3.7
4.9
5.1
1. Not at annual rates.
NOTE.—For the fourth quarter of 1982, 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 December; for nonresidential fixed investment, revised manufacturers' shipments of equipment for December,
revised construction put in place for December, and business share of new car purchases for December; for residential investment,
revised construction put in place for December, and residential alterations and repairs for the quarter; for change in business
inventories, revised book values for manufacturing and trade for December; for net exports of goods and services, revised
merchandise trade 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 net interest, financial assets held by households for the quarter, and revised net interest received from
abroad for the quarter; for corporate profits, domestic book profits and profits from the rest of the world for the quarter; and for
GNP prices, revised residential housing prices for the quarter, and revised producer price indexes for December.
Corporate profits from current production—profits with inventory valuation and capital consumption adjustments—increased $1% billion to $167^
billion in the fourth quarter of 1982,
following an $11 billion dollar increase in the third. In the fourth
quarter, a decrease in the domestic
profits of nonfinancial corporations
was more than offset by increases in
the profits of domestic financial corporations and profits from the rest of
the world.
Domestic profits of nonfinancial
corporations decreased $7 & billion to
$117% billion in the fourth quarter,
following an increase of $10% billion.
The decrease in domestic profits of
nonfinancial corporations was, in
turn, accounted for by a decrease in
manufacturing profits. Within manufacturing, profits of all major durables industries and most nondurables
industries decreased. The weakness in
manufacturing profits reflected decreases in the constant-dollar sales of
all major manufacturing industries.
In particular, a swing from profits to
losses for motor vehicle manufacturers reflected both a decrease in their
sales and the costs of consumer incentive programs, which were designed
to reduce large dealer inventories of
unsold motor vehicles. A sizable decrease in petroleum manufacturers'
profits reflected lower sales and, be-
March 1983
cause petroleum manufacturers extract a major share of domestic crude
oil, lower prices for crude oil.
Profits of nonfinancial nonmanufacturing corporations increased moderately, as increased profits of trade,
utilities, and "other" nonmanufacturing corporations more than offset decreased profits of transporation and
communication corporations. Airlines
registered increased losses despite increased revenue passenger miles and
a continued run-up of prices of regular tickets; the effects of intense competition on many major routes hurt
profits. Decreased profits of communication corporations resulted from
lower telephone and telegraph profits.
Much of the increase in trade profits
was accounted for by a swing from
losses to profits for auto dealers. This
swing reflected increased unit auto
sales, which resulted in part from the
manufacturer-supported consumer incentive programs.
Domestic profits of financial corporations increased $4 % billion to $29
billion in the fourth quarter, following an increase of $2% billion. The
fourth-quarter increase occurred as
savings and loan associations and
mutual savings banks registered reduced losses and profits of commercial
banks increased; these changes more
than offset decreased profits of Federal Reserve banks. (Federal Reserve
banks are treated as part of corporate
business in the national income and
product accounts.) The reduced losses
reflected the impact of decreasing interest rates, which lowered the cost of
attracting deposits. Savings and loan
associations registered very large net
inflows of deposits in December, as
Money Market Deposit Accounts
became available, after a number of
months of when withdrawals exceeded deposits. The effect of the inflows
into Money Market Deposit Accounts
on savings and loan associations' profits is not clear; many associations attracted deposits by initially offering
very high rates of interest.
Profits from the rest of the world
increased $4% billion in the fourth
quarter to $21 billion, following a decrease of $2 billion. Two-thirds of the
increase was due to an increase in
earnings on U.S. corporations' foreign
assets. An increase in earnings on
SURVEY OF CURRENT BUSINESS
nonpetroleum operations, centered in
the European manufacturing operations of U.S. corporations, more than
offset a decrease in earnings on petroleum operations. The rest of the increase in profits from the rest of the
world was accounted for by a decrease
in the earnings on foreign corporations' U.S. assets. These earnings are
netted against U.S. corporations' foreign earnings in the calculation of
profits.
Other measures of profits.—Profits
before tax decreased $1% billion to
$179 billion in the fourth quarter, following an increase of $8% billion.
These profits exclude the inventory
valuation adjustment (IVA) and the
capital
consumption
adjustment
(CCAdj). Inventory profits—the IVA
with sign reversed—increased $2% billion to $12% billion in the fourth
quarter, following an increase of $1
billion. The profits component attributable to the misdepreciation of capital—the CCAdj with sign reversed—
registered a loss—that is, became negative—for the first time since the
second quarter of 1974.3 The fourthquarter loss was $1% billion, following
a profit of $4 billion in the third quarter. The swing reflected the effects of
provisions of the Economic Recovery
Tax Act of 1981 (ERTA), which permit
the use of relatively short service
lives for measuring the depreciation
on new capital (as reported to the Internal Revenue Service) used as a deduction from receipts in the calculation of corporate profits. As corporations depreciate increasing amounts
of capital using the relatively short
service lives, the component of the
CCAdj that adjusts depreciation to
consistent service lives becomes increasingly positive/The effects of
ERTA have progressively reduced
profits attributable to the misdepreciation of capital by somewhat more
than $2 billion per quarter beginning
with the first quarter of 1981. The
3. The capital consumption adjustment 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). It also values fixed capital used up in
production at replacement cost, the valuation concept
underlying national income accounting, rather than at
historical cost, the concept generally underlying business accounting.
swing to a loss was also consistent
with rates of inflation in prices for
fixed nonresidential investment that
were lower than those experienced
over the service lives of the assets.
Such lower rates of inflation lead to
less negative values for the portion of
the CCAdj that revalues fixed capital
used up in production at replacement
cost from historical cost.
Disposition of profits.—Corporate
profits taxes decreased $1% billion to
$59% billion in the fourth quarter, following an increase of $5% billion.
Dividends continued their 7-year uptrend in the fourth quarter, increasing $2 billion to $72 % billion, following an increase of $1 billion. Undistributed profits decreased $2 billion to
$47 billion, following an increase of $2
billion.
Government sector
The fiscal position of the government sector in the national income
and product accounts (NIPA's) continued to deteriorate in the fourth quarter, as the combined deficit of the
Federal government and the State
and local governments increased $43
billion. Compared with a year earlier,
the combined deficit increased substantially, from $72% billion to $166%
billion. All of this deterioration occurred at the Federal level, where the
deficit increased over $100 billion.
The Federal sector.—The Federal
Government deficit increased $47 billion in the fourth quarter, to $203 billion, reflecting a much larger increase
in expenditures than in receipts.
Receipts increased $2% billion, compared with a $3% billion decline in
the third quarter, when personal
income tax withholding rates were reduced for the second time under provisions of the Economic Recovery Tax
Act of 1981. In the fourth quarter, a
$3% billion increase in personal tax
and nontax receipts more than accounted for the increase in total receipts; all other categories declined on
balance. Corporate profits tax accruals declined $1% billion, reflecting the
decline in corporate profits. Indirect
business tax and nontax accruals
were down slightly, largely the net
result of a $1% billion decline in the
windfall profits tax and increases—$%
billion each—in tobacco and in air-
SURVEY OF CURRENT BUSINESS
port and airway taxes. The increase
in tobacco taxes reflects a special tax
on cigarette floor stocks held at the
nonretail level provided for by the
Tax Equity and Fiscal Responsibility
Act of 1982; the increase in the airport and airway taxes reflects the
first full-quarter effect of increased
taxes provided for by the same act.
Expenditures increased $49% billion, compared with $33 billion in the
third quarter. Purchases of goods and
services increased $20 billion. Nondefense purchases, up $13 billion, included a $10% billion increase for agricultural purchases by the Commodity Credit Corporation (CCC). A 4-percent pay raise in October and steppedup purchases for the strategic petroleum reserve contributed $% billion
each to the increase. National defense
purchases, up $7 billion, included $2
billion for the pay raise.
Transfer payments to persons increased $15% billion; $7% billion was
for social security benefits and $6 billion was for unemployment benefits.
The increase in social security benefits was unusually large, partly reflecting retroactive payments and resumption of payments to college students. Unemployment benefits were
boosted by the first full-quarter
impact of supplemental benefits; they
accounted for $4% billion of the increase in total unemployment benefits.
Subsidies less the current surplus of
government enterprises increased $9
billion. Agricultural subsidies accounted for $6% billion of the increase. Roughly one-quarter of the increase in agricultural subsidies was in
regularly scheduled deficiency payments for 1982 crops—mainly wheat
and cotton. Most of the remainder
was due to a speed-up in payments for
1982 crops—mainly corn and other
feed grains—that would otherwise
have been paid in the first quarter of
1983 and to diversion payments for
some 1983 crops. The CCC deficit increased $3 billion and the Postal Service deficit declined $% billion; the
latter largely reflected the absence of
an employee bonus paid in the third
quarter.
Grants-in-aid to State and local governments increased $2% billion. Increases in grants for education, public
assistance, and food and nutrition
were partly offset by declines in
grants for waste treatment and
health care.
On a high-employment budget
basis, the Federal fiscal position
moved from a deficit of $33 billion in
the third quarter to a deficit of $63
billion in the fourth quarter (table 3
on page 18). The high-employment
deficit as a percentage of potential
GNP increased from 1.0 percent in
the third quarter to 1.8 percent in the
fourth—a move toward a more expan-
March 1983
sionary fiscal position. As percentages
of potential GNP, high-employment
receipts did not change, but high-employment expenditures
increased
sharply from the third quarter to the
fourth.
The State and local sector.—The
State and local government surplus
increased $4% billion, as receipts increased more than expenditures. The
increase in the surplus was largely accounted for by a $3 billion decline in
the "all other" deficit; the surplus of
the social insurance funds continued
to increase.
Receipts increased $9% billion, compared with $6 billion in the third
quarter; a $5% billion swing in grantsin-aid more than accounted for the acceleration. Indirect business tax and
nontax accruals increased $5 billion,
including $3 billion for property
taxes. Personal tax and nontax receipts increased $1% billion and contributions about $1 billion.
Expenditures increased $5% billion,
compared with $6 billion in the third
quarter. Purchases of goods and services accounted for all of the increase;
all other expenditures, on balance,
were unchanged. Within purchases,
compensation increased $% billion
more than in the third quarter, partly
reflecting an increase in employment
other than in education. Construction
purchases declined $% billion, following an increase in the third quarter.
Summary of BE A Staff Paper
'Summary Input-Output Tables of the U.S. Economy:
1976, 1978, and 1979"
By Paula C. Young and Mark A. Planting
THIS paper presents summary (85-industry/commodity)
tables that are updates of the 1972 study. Of necessity,
they are based on information that is much less adequate
than that used in 1972, for which the economic censuses
are available. In addition to presenting the tables, the
paper describes the tables, explains their derivation, and
examines the changes in output requirements during the
1972-79 period that are revealed by the update estimates.
This paper, which is No. 39 in the BEA Staff Paper
series, may be ordered from the National Technical Information Service, 5285 Port Royal Road, Springfield, VA
22161. The accession number is PB-83 167-403, enclose
$13.00 for a paper copy and $4.50 for microfiche.
SURVEY OF CURRENT BUSINESS
March 1983
National Income and Product Accounts Tables
New estimates in this issue: Fourth quarter and annual 1982, revised.
The abbreviations used in the tables are: CCAdj Capital consumption adjustment
IVA
Inventory valuation adjustment
NIPA's National income and product accounts
p
Preliminary
r
Revised
The NIPA estimates for 1929-76 are in The National Income and Product Accounts of the United States, 1929-76: Statistical Tables (Stock
No. 003-010-00101-1, price $10.00). Estimates for 1977-81. and corrections for earlier years are in the July 1982 SURVEY. These publications are
available from the Superintendent of Documents and Commerce Department District Offices; see addresses inside front cover.
Table 1.1-1.2.—Gross National Product in Current and Constant Dollars
Billions of 1972 dollars
Billions of dollars
Seasonally adjusted at annual rates
Seasonally adjusted at annual rates
1981
1982 r
1982
1981
IV
III
I
II
1981
III
1,843.2
Durable goods
Nondurable goods
Services
..
,
234.6
734.5
874.1
,
.
....
., ,
...
Nonfarni
Farm
Net exports of goods and services.
Exports
Imports ..
.
... ... ..
,
,.„...,
241.2
741.3
886.3
229.6
746.5
908.3
237.9
749.1
932.4
240.7
755.0
952.1
240.3 251.8
768.4
775.7
977.6 1,003.3
III
IV r
IV
1,502.6 1,476.9
1,510.4
1,490.1
947.6
956.9
951.4
943.4
949.1
955.0
956.3
967.0
140.0
362.4
445.2
138.8
365.0
453.1
142.2
363.0
446.2
134.1
363.1
446.2
137.5
362.2
449.5
138.3
364.5
452.2
136.4
365.9
454.0
142.8
367.6
456.6
II
1,470.7 1,478.4
1,481.1 1,477.2
471.5
420.3
486.0
468.9
414.8
431.5
443.3
391.5
225.8
196.9
233.4
218.9
195.4
202.3
206.3
183.5
444.1
348.0
141.5
206.5
96.2
90.5
2.5
3.2
23 8
-24.3
.5
454.2
353.0
132.7
220.2
101.2
95.6
2.4
3.2
31.8
24.6
7.2
455.7
360.2
139.6
220.6
95.5
89.4
2.9
3.2
13.2
6.0
7.2
450.4
357.0
141.4
215.6
93.4
87.9
2.4
3.1
-35.6
360
.4
447.7
352.2
143.6
208.6
95.5
89.6
2.8
3.2
162
-15.0
-1.2
438.6
344.2
141.3
203.0
94.3
88.7
2.4
3.2
4.7
3.7
1.0
439.9
338.4
139.6
198.8
101.4
95.7
2.5
3.2
483
-50.0
1.7
216.9
172.0
51.6
120.4
44.9
42.1
.9
2.0
9.0
6.8
2.1
206.1
165.7
53.1
112.6
40.3
37.4
1.0
1.9
92
-9.4
.2
216.9
173.9
52.5
121.4
42.9
39.9
1.0
2.0
16.5
13.6
3.0
214.1
174.2
53.3
120.9
39.9
36.7
1.2
2.0
4.8
1.6
3.2
210.8
172.0
53.5
118.5
38.9
36.0
1.0
1.9
-15.4
-15.6
.2
206.7
166.7
53.7
113.0
40.1
37.0
1.1
1.9
44
-3.8
-.6
202.9
163.4
53.0
110.4
39.5
36.6
1.0
1.9
3.4
2.9
.5
203.8
160.9
52.3
108.6
42.9
40.0
1.0
1.9
203
-21.1
.8
26.1
20.5
25.9
23.5
31.3
34.9
6.9
9,1
42.0
31.8
39.2
36.5
36.9
35.7
27.5
27.2
367.3
341.3
350.8
330.3
367.2
341.3
367.9
344.4
359.9
328.6
365.8
330.9
349.5
342.5
328.1
319.1
158.5
116.4
148.1
116.3
157.8
118.7
156.9
120.4
151.7
114.7
154.4
118.7
147.5
120.0
138.8
111.6
596.9
. . .
647.4
600.2
626.3
630.1
630.9
651.7
676.8
287.1
291.3
286.4
291.3
289.2
285.3
291.1
299.5
228.9
153.7
75.2
368.0
Government purchases of goods and services
Federal ...
National defense
Nondefense
State a n d local.. . . .
242.7
762.1
966.3
I
III
451.1
346.1
129.7
216.4
104.9
99.7
2.1
3.2
20.5
15.0
5.5
Gross private domestic investment
Fixed investment
Nonresidential
Structures.
..
Producers' durable equipment
Residential
..
Nonfarni structures
Farm structures
Producers' durable equipment
1,971.1 1,868.8 1,884.5 1,919.4 1,947.8 1,986.3 2,030.8
1982
1981
IV r
2,937.7 3,059.3 2,980.9 3,003.2 2,995.5 3,045.2 3,088.2 3,108.2
Personal consumption expenditures
1982 T
257.9
178.6
79.3
389.4
230.0
154.4
75.7
370.1
250.5
166.9
83.6
375.7
249.7
166.2
83.5
380.4
244.3
176.2
68.2
386.6
259.0
182.7
76.3
392.7
278.7
189.3
89.4
398.0
110.4
73.5
36.8
176.7
116.4
78.6
37.8
174.9
110.7
74.3
36.5
175.7
116.0
76.1
39.9
175.3
114.4
74.5
39.8
174.9
110.3
78.2
32.1
175.0
116.2
80.6
35.5
174.9
124.7
81.0
43.7
174.8
Table 1.3-1.4,—Gross National Product by Major Type of Product in Current and Constant Dollars
Billions of 1972 dollars
Billions of dollars
Seasonally adjusted at annual rates
1981
1981
1982'
III
IV
I
II
III
..
. ..
1,502.6 1,476.9
II
1,510.4 1,490.1 1,470.7 1,478.4
III
IV
1,481.1 1,477.2
1,493.9 1,485.3 1,486.1 1,482.7 1,477.8 1,497.5
3.4 -20.3
16.5
4.8 -15.4
-4.4
661.3
697.2
678.0
661.8
663.2
665.1
655.3
680.5
9.0
670.5
92
680.7
16.5
673.2
4.8
677.2
154
667.5
-4.4
661.7
3.4
675.6
-20.3
.....
. . . . .
.....
467.9
516.2
-48.3
805.7
805.6
0
293.1
289.3
3.8
391.2
391.2
5.1
266.1
274.0
-7.9
395.3
396.5
13
298.8
290.2
8.6
398.4
390.5
7.9
275.1
277.6
25
402.9
395.6
7.3
265.0
278.7
-13.7
396.8
398.5
-1.7
272.3
274.9
26
390.9
392.6
-1.7
274.0
269.2
4.8
391.1
392.5
-1.5
253.0
273.1
201
402.3
402.5
-.2
1,364.3 1,494.4 1,382.1 1,421.5 1,444.4 1,476.7 1,509.5 1,547.0
281.7
285.3
283.2
281.9
283.3
287.7
284.2
284.5
695.6
117.6
702.4
113.1
697.5
115.7
698.6
113.4
697.0
111.9
702.2
113.0
703.6
112.5
707.0
114.9
528.1
519.4
8.7
761.1
749.4
11.7
493.3
512.2
-18.9
787.1
792.0
4.9
1,317.0 1,298,4
547.3
527.5
19.8
769.7
757.6
12.0
504.9
510.5
-5.6
793.6
774.7
18.9
482.4
513.2
-30.9
787.0
791.8
-4.8
505.9
512.6
-6.6
777.2
786.7
-9.6
516.9
506.8
10.1
778.6
783.9
-5.4
2,911.7 3,038.8 2,955.0 2,979.7 2,964.2 3,010.3 3,081.3 3,099.2 1,460.6 1,445.0 1,471.2 1,453.6 1,433.8 1,442.6 1,453.7 1,449.9
2,891.2 3,062.6 2,923.2 2,966.5 2,999.8 3,026.5 3,076.6 3,147.5 1,451.6 1,454.2 1,454.7 1,448.8 1,449.2 1,447.0 1,450.3 1,470.2
1. Gross domestic purchases equals GNP less exports plus imports; final sales to domestic purchasers equals final sales less exports plus imports.
I
689.5
1,280.4
1,269.4
IV
1,283.1 1,295.5 1,273.5
1,289.2
Final sales
Change in business inventories
Addenda:
Gross domestic purchases * .,
Final sales to domestic purchasers *
III
2,917.3 3,083.1 2,949.1 2,989.9 3,031.1 3,061.4 3,083.5 3,156.5 1,493.7 1,486.0
35.6
162
13.2
23.8
31.8
20.5
9.0
-9.2
4.7
483
1982
1981
1,268.7 1,304.2 1,285.1 1,285.2 1,305.0 1,299.3 1,290.7 1,321.8
4.7
13.2 -35.6 -16.2
31.8
483
238
20.5
Goods
Durable goods
....
Final sales
Change in business inventories
Nondurable goods
Final sales
Change in business inventories
1982 r
IV
2,937.7 3,059.3 2,980.9 3,003.2 2,995.5 3,045.2 3,088.2 3,108.2
Gross national product
Final sales
Change in business inventories..
Services.
Structures........
Seasonally adjusted at annual rates
1981
1982
8
SURVEY OF CURRENT BUSINESS
March 1983
Table 1.5-1.6.—Gross National Product by Sector in Current and Constant Dollars
Billions of dollars
Billions of 1972 dollars
Seasonally adjusted at annual rates
1982 r
1981
1981
III
Gross national product
Seasonally adjusted at annual rates
1982
I
IV
II
1981
IV r
III
2,937.7 3,059.3 2,980.9 3,003,2 2,995.5 3,045.2 3,088.2 3,108.2
Gross domestic product
Business
Nonfarm
Nonfarm less housing..
Housing
Farm ..
Statistical discrepancy
Households and institutions
Private households
Nonprofit institutions
Government .
.
.
Federal
State and local
Rest of the world
Addendum:
Gross domestic business product less housing
3,011.6
2,582.1
2,505.6
2,255.9
249.7
75.6
1.0
106.8
7.1
99.6
322.7
99.8
222.9
47.7
2,888.5
2,492.4
2,418.5
2,188.9
229.6
75.8
-1.9
96.4
7.0
89.4
299.7
92.3
207.4
49.2
2,931.2
2,533.9
2,454.7
2,223.0
231.7
80.1
-.8
97.1
7.1
90.1
300.1
91.0
209.2
49.7
2,949.8
2,538.6
2,467.4
2,229.9
237.4
78.4
-7.2
100.3
7.1
93.3
310.9
97.9
213.0
53.3
2,949.6
2,530.6
2,465.1
2,222.8
242.3
72.9
-7.5
103.3
7.1
96.2
315.8
98.6
217.1
45.8
2,995.7
2,570.1
2,494.4
2,247.9
246.5
74.8
.8
105.3
7.1
98.2
320.3
98.9
221.4
49.5
3,041.6
2,610.0
2,530.2
2,278.0
252.3
76.1
3.6
107.9
7.1
100.8
323.8
99.1
224.7
46.6
1981
1982'
III
Less:
Capital consumption allowances with CCAdj...
Capital consumption allowances
Less' CCAdj
Equals: Net national product
Less:
Indirect business tax and
nontax liability
Business transfer payments.
Statistical discrepancy
Plus: Subsidies less current
surplus of government
enterprises
Equals: National income
Less:
Corporate profits with
IVA and CCAdj
Net interest
Contributions for social
insurance
Wage accruals less disbursements
Plus:
Government transfer payments to persons
Personal interest income....
Personal dividend income ..
Business transfer payments
Equals: Personal income
1981
1982 r
1982
1,458.6
1,255.4
1,214.4
1,081.3
133.1
39.3
1.7
48.0
3.1
44.9
155.2
49.8
105.4
22.5
1,453.7
1,249.9
1,201.8
1,068.3
133.5
44;8
3.3
48.6
3.1
45.5
155.2
49.9
105.3
23.4
III
II
I
1982
1981
III
IV
I
II
III
IV
IV
2,937.7 3,059.3 2,980.9 3,003.2 2,995.5 3,045.2 3,088.2 3,108.2
330.1
356.4
335.2
344.8
348.7
353.9
359.4
363.5
267.5
626
309.8
-46.6
271.9
632
282.6
-62.2
293.4
-55.3
304.4
-49.6
314.6
448
326.7
-36.7
2,607.9 2,702.9 2,645.8 2,658.4 2,646.7 2,691.2 2,728.9 2,744.7
251.3
258.8
253.3
255.3
250.2
256.7
261.7
266.4
12.4
-1.9
13.7
1.0
12.5
-.8
12.8
-7.2
13.1
-7.5
13.5
.8
13.8
3.6
14.3
6.9
6.6
7.8
6.5
7.0
6.0
4.9
5.8
14.5
2,352.5 2,437.3 2,387.3 2,404.5 2,396.9 2,425.2 2,455.6 2,471.7
190.6
235.7
161.5
264.9
193.1
244.0
183.9
249.5
157.1
258.7
155.4
267.5
166.2
268.1
167.5
265.3
238.1
253.8
240.3
243.5
250.8
253.0
255.2
256.2
0
0
.2
-.1
.2
0
0
0
323.9
329.0
62.5
361.0
371.2
67.0
332.3
339.6
64.1
337.9
351.0
65.2
341.4
359.7
65.8
351.7
372.0
66.1
367.2
378.2
67.2
383.6
374.6
68.8
12.4
13.7
12.5
12.8
13.1
13.5
13.8
14.3
2,415.8 2,569.9 2,458.2 2,494.6 2,510.5 2,552.7 2,592.5 2,624.0
Table 1.8.—Relation of Gross National Product, Net National Product,
and National Income in Constant Dollars
[Billions of 1972 dollars]
1,502.6 1,476.9 1,510.4 1,490.1 1,470.7 1,478.4 1,481.1 1,477.2
Gross national product....
Less: Capital consumption
156.3 157.8 159.3 160.8 162.2 164.2
155.6 161.6
allowances with CCAdj.
Equals: Net national prod1,347.0 1,315.2 1,354.1 1,332.2 1,311.4 1,317.6 1,318.9 1,312.9
uct
Less: Indirect business tax
and nontax liability plus
business transfer payments less subsidies plus
current surplus of govern147.4
146.5 147.1 146.8
147.2 147.0 147.5 146.6
ment enterprises
.4
1.7
3.3
-3.7
-.4
-3.6
-.9
.4
Statistical discrepancy....
1,200.8 1,167.8 1,207.0 1,189.2 1,168.5 1,170.1 1,170.4 1,162.3
Equals: National income
1,454.1
1,250.5
1,212.2
1,079.5
132.6
38.0
.4
47.9
3.1
44.8
155.7
49.8
105.9
24.2
Billions of dollars
National income
Gross national product
1,448.0
1,244.4
1,210.0
1,077.9
132.0
38.1
-3.7
47.8
3.1
44.7
155.7
49.8
106.0
22.7
Table 1.11.—National Income by Type of Income
Seasonally adjusted at annual rates
IV
IV r
Seasonally adjusted at annual rates
1981
III
III
II
1 1414
Billions of dollars
1982 r
I
1,502.6 1,476.9 1,510.4 1,490.1 1,470.7 1,478.4 1,481.1 1,477.2
3,059.2 1,447.2 1,453.6 1,485.0 1,463.3
2,617.8 1,274.3 1,250.1 1,282.4 1,260.2
2,532.6 1,236.8 1,209.6 1,241.9 1,221.5
2,274.9 1,105.5 1,076.8 1,110.6 1,089.9
257.7
131.4
132.8
131.3
131.6
78.4
38.4
42.3
40.1
40.9
9
6.9
.4
-.4
-3.6
47.4
110.6
46.7
46.9
48.1
7.2
3.2
3.3
3.3
3.1
103.4
45.0
44.1
43.6
43.5
330.9
156.0
155.4
155.9
155.8
102.4
49.7
49.8
49.8
49.8
228.4
106.0
106.3
105.6
106.1
49.0
23.2
25.4
26.7
25.4
22535
Table 1.7.—Relation of Gross National Product, Net National Product,
National Income, and Personal Income
1981
1982
IV
2,352.5 2,437.3 2,387.3 2,404.5 2,396.9 2,425.2 2,455.6 2,471.7
Compensation of employees
1,767.6 1,856.5 1,789.1 1,813.4 1,830.8 1,850.7 1,868.3 1,876.1
1,494.0 1,560.6 1,512.6 1,531.1 1,541.5 1,556.6 1,570.0 1,574.5
Wages and salaries
Government and government enterprises .... 283.1 302.3 284.0 292.3 296.3 300.0 303.5 309.2
Other
1,210.9 1,258.4 1,228.6 1,238.8 1,245.2 1,256.6 1,266.4 1,265.4
Supplements to wages
and salaries
273.6 295.8 276.5 282.3 289.3 294.1 298.3 301.6
Employer contributions for social in142.8 143.7
142.1 134.3 136.5 140.2 141.7
surance
133.2
142.2
145.8
149.1 152.5 155.5 157.9
Other labor income
140.4
153.8
Proprietors' income with
IVA and CCAdj
Farm
Proprietors' income
with IVA
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
Profits before tax
Profits tax liability ..
Profits after tax
Dividends
Undistributed
profits
IVA
CCAdj
124.7
24.0
120.3
19.0
127.5
27.1
124.1
24.6
116.4
17.8
117.3
17.4
118.4
16.6
128.9
24.1
31.8
-7.9
100.7
100.3
-1.6
2.1
27.1
-8.1
101.3
94.5
5
7.3
35.1
80
100.4
99.3
12
2.3
32.8
82
99.5
97.7
-1.2
3.0
26.0
-8.2
98.6
93.8
0
4.7
25.5
-8.1
99.9
94.5
-1.0
6.4
24.7
81
101.7
94.4
-.5
7.9
32.2
-8.0
104.8
95.2
-.6
10.3
33.9
34.1
33.6
33.6
33.9
34.2
34.6
33.9
69.4
-35.5
70.5
-36.3
69.5
-35.9
70.5
-36.9
71.0
371
70.7
364
70.9
363
69.4
356
190.6
161.5
193.1
183.9
157.1
155.4
166.2
167.5
207.5
232.1
81.2
150.9
65.1
166.4
175.6
58.1
117.5
70.3
210.3
233.3
82.4
150.8
66.8
199.4
216.5
71.6
144.9
68.1
167.2
171.6
56.7
115.0
68.8
162.2
171.7
55.3
116.3
69.3
170.0
180.3
60.9
119.4
70.5
166.2
178.8
59.3
119.4
72.4
85.8
-24.6
-16.8
47.3
-9.2
-4.9
84.0
230
-17.1
76.9
171
-15.5
46.1
44
-10.1
47.0
94
-6.9
48.8
103
-3.8
47.0
-12.6
1.3
Net interest
235.7
264.9
244.0
249.5
258.7
267.5
268.1
265.3
Addenda:
Corporate profits after
tax with IVA and
CCAdj
Dividends
Undistributed
profits
with IVA and CCAdj
109.5
65.1
103.5
70.3
110.7
66.8
112.3
68.1
100.4
68.8
100.0
69.3
105.3
70.5
108.1
72.4
44.4
33.2
43.9
44.3
31.6
30.7
34.8
35.8
SURVEY OF CURRENT BUSINESS
March 1983
Table 1.13.—Gross Domestic Product of Corporate Business in Current Dollars and Gross Domestic Product of Nonfmancial Corporate Business
in Current and Constant Dollars
Billions of dollars
1982r
1981
Billions of dollars
Seasonally adjusted at annual rates
Seasonally adjusted at annual rates
Gross domestic product of corporate
business
Capital consumption allowances with CCAdj
Net domestic product . .
Indirect business tax and
nontax liability plus
business transfer payments less subsidies
1981
1982
1981
III
225.1
209.7
1,630.9 1,666.9 1,658.1 1,657.1 1,644.2 1,659.3 1,683.7 1,680.2
190.0
186.1
187.8
184.0
189.1
194.8
192.2
189.1
1,444.8 1,476.8 1,470.3 1,468.0 1,460.2 1,470.3 1,491.4 1,485.4
Compensation of em1,224.5 1,271.3 1,242.5 1,251.5 1,259.5 1,270.7 1,278.7 1,276.2
ployees
1,024.8 1,057,6 1,040.5 1,046.6 1,049.7 1,057.8 1,063.4 1,059.6
Wages and salaries
Supplements
to
wages and salaries ... 199.7 213.6 202.1 204.9 209.8 212.9 215.3 216.6
Corporate profits with
146.6
137.2 149.9
158.3 140.2
167.8
IVA and CCAdj
143,5 172.2
Profits before tax
Profits tax liability ..
Profits after tax
Dividends
Undistributed
IVA
CCAdj
Net interest.....
Gross
domestic
product of financial
corporate
business
Gross
domestic
product of nonfinancial corporate business
Capital consumption allowances with CCAdj
209.3
81.2
128.1
50.8
157.5
58.1
99.4
60.2
212.3
82.4
129.8
52.7
190.9
71.6
119.3
54.6
154.7
56.7
98.1
56.0
153.5
55.3
98.2
58.0
164.0
60.9
103.1
60.6
39.3
92
49
62.1
77.1
-23.0
-17.1
55.6
64.7
17.1
-15.5
58.3
42.0
-4.4
-10.1
60.5
40.2
-9.4
69
62.4
42.4
-10.3
38
62.8
32.4
12.6
1.3
62.7
114.8
104.8
104.2
116.8
111.7
106.6
106.0
213.7
199.1
207.8
205.1
rv r
133.8
39.7
94.2
62.1
191.5
65.5
126.0
54.4
170.5
54.8
115.7
56.7
134.8
38.9
95.8
58.0
131.3
37.1
94.2
59.7
139.8
42.1
97.6
62.6
129.5
40.4
89.1
68.2
70.3
-24.6
163
62.5
Gross domestic product of nonfinancial
corporate business...
32.1
-9.2
52
72.3
71.6
-23.0
167
65.7
58.9
-17.1
-15.1
68.1
37.8
-4.4
-10.0
70.5
34.5
-9.4
-7.1
72.6
35.0
-10.3
42
73.1
20.9
126
.6
72.9
857.9
859.3
846.9
881.3
Capital consumption allowances with CCAdj
.....
124.1
216.0
212.1
III
Billions of 1972 dollars
218.8
855.7
887.5
870.4
858.8
94.3
98.6
94.9
96.0
97.0
98.1
99.2
100.1
787.0
757.1
792.6
774.5
761.8
759.8
760.1
746.8
94.7
692.2
Net domestic product
Indirect business tax and
nontax liability plus
business transfer payments less subsidies...
Domestic income
1,732.3 1,777.2 1,763.6 1,767.2 1,756.6 1,771.0 1,794.4 1,786.7
195.8
II
186.6
63.3
123.3
52.9
Profits before tax
Profits tax liability ..
Profits after tax
Dividends
Undistributed
profits
IVA
CCAdj
Net interest
157.9
59.3
98.5
66.1
77.3
-24.6
168
52.5
I
1,536.5 1,563.5 1,564.5 1,562.0 1,548.8 1,559.0 1,578.4 1,567.9
Net domestic product
Indirect business tax and
nontax liability plus
business transfer pay184.2
186.6
176.3 181.2
181.3
ments less subsidies ,.., 178.3 182.1 179.9
,1,358.2 1,381.4 1,384.5 1,380.8 1,372.4 1,377.8 1,394.2 1,381.3
Domestic income
Compensation of em1,150.1 1,189.6 1,167.0 1,174.5 1,181.6 1,190.4 1,195.8 1,190.7
ployees
Wages and salaries
962.9 990.2 977.7 982.7 985.3 991.4 995.0 989.2
Supplements
to
196.4
198.9 200.8 201.5
wages and salaries ... 187.1 199.4 189.3 191.9
Corporate profits with
125.3 117.6
138.2 120.3 114.8
145.6 119.5 151.8
IVA and CCAdj
230.6
227.5
223.4
218.9
216.0
IV
III
1,837.1 1,892.0 1,867.8 1,873.1 1,863.1 1,882.7 1,911.2 1,910.8
206.2
1982
1981
1982'
IV
III
II
I
IV
95.6
661.5
95.2
697.4
94.7
679.8
94.6
667.2
95.0
664.8
94.6
665.5
98.2
648.6
Table 1.14-1.15.—Auto Output in Current and Constant Dollars
Billions of dollars
Billions of 1972 dollars
Seasonally adjusted at annual rates
1981
1982 r
1981
III
Seasonally adjusted at annual rates
1981
1982
I
IV
II
III
1982 '
1981
1982
III
IV '
IV
I
II
III
IV r
69.2
65.9
78.7
58.3
53.5
69.9
75.2
65.1
41.5
37.6
45.6
34.4
31.3
39.7
4? 3
37.2
Final sales
68.0
Personal consumption expenditures
67.2
New autos
49.2
Net purchases of used autos
,
18.0
13.6
Producers' durable equipment
,
24.1
New autos .
...
Net purchases of used autos
-10.5
Net exports
-13.8
Exports
...
...
; . .....
4.0
17.8
Imports
.
..
1.0
Government purchases
.. .. ..
Chance in business inventories
1.2
New
.9
Used
.. ....
.3
68.2
70.9
51.7
19.2
13.8
24.7
-10.9
-17.5
2.9
20.4
.9
-2.2
-2.4
.2
74.4
71.5
52.1
19.3
15.3
27.6
-12.3
-13.4
4.6
18.1
1.1
4.3
3.1
1.2
60.2
62.8
45.0
17.8
12.5
22.0
-9.4
-16.0
2.8
18.9
.9
-1.9
-1.6
-.3
65.9
68.0
48.8
18.3
13.1
23.3
-10.2
-16.1
2.6
18.7
.9
-12.4
-12.7
.3
64.5
67.8
50.0
17.8
13.4
22.9
-9.5
-17.6
3.4
21.0
.9
5.4
5.8
— .4
66.6
69.5
48.8
20.7
15.2
26.7
-11.6
-19.1
3.4
22.5
1.0
87
9.1
— .4
75.6
78.3
58.3
19.9
13.5
25.8
-12.3
-17.1
2.4
19.5
.9
10 6
-11.8
1.2
40.8
36.0
28.8
7.2
9.5
14.1
-4.6
-5.3
2.3
7.7
.7
-1.3
.6
.1
38.9
35.7
29.1
6.6
9.8
13.9
-4.1
-7.3
1.6
8.9
.6
-1.3
14
.1
43.7
37.4
30.0
7.5
10.7
15.8
-5.2
51
2.7
7.8
.7
1.8
1.3
.5
35.2
32.2
25.6
6.6
8.8
12.5
-3.7
6.5
1.6
8.0
.6
-.8
-.7
-.1
38.3
34.9
28.3
6.6
9.3
13.3
40
66
1.5
8.0
.6
-7.0
-7.1
.1
37.0
34.4
28.2
6.2
9.3
12.9
36
-7.3
1.9
9.2
.6
2.7
2.8
-.1
37.4
34.2
27.2
7.1
10.6
14.9
-4.3
81
1.8
9.9
.7
4.8
5.0
-.1
42.9
39.3
32.6
6.7
10.0
14.4
44
70
1.3
8.4
.6
-5.8
-6.2
.4
49.4
28.5
61.6
24.3
44.8
25.2
37.8
27.6
53.3
26.6
59.7
28.1
46.6
31.5
31.9
14.3
27.7
16.0
35.4
14.0
25.5
14.4
21.6
15.7
30.1
15.0
33.1
15.7
26.1
17.6
Auto output
Addenda:
Domestic output of new autos 1
Sales of imported new autos ".,..,
,
54.6
24.5
,.,.
Table 1.16-1.17.—Truck Output in Current and Constant Dollars
Billions of dollars
Billions of 1972 dollars
Seasonally adjusted at annual rates
1981
1982r
1981
III
Truck output \
,
,„ ..
Final sales
Personal consumption expenditures.
Producers' durable equipment
Net exports
Exports ...
Imports
Government purchases.
..
Change in business inventories..
..
.,
. ..
. . .
IV
1981
I
II
III
1982r
IV '
1981
III
1982
IV
I
II
III
IV r
27.8
29.4
26.5
27.7
29.4
32.9
30.3
25.0
13.3
13.8
12.6
12.9
13.9
15.6
14.0
11.5
27.6
7.7
17.3
16
3.3
4.9
4.3
29.4
11.3
16.4
-2.8
2.5
5.3
4.6
27.5
8.2
17.4
-2.5
3.2
5.7
4.4
25,8
7,4
16.6
-2.2
3.1
5.3
4.0
32.0
11.8
18.6
-2.6
2.9
5.5
4.3
29.7
11.6
17.0
33
2.7
6.0
4.5
26.9
10.7
15.2
37
2.0
5.7
4.7
29.1
11.0
15.0
-1.7
2.3
4.0
4.9
13.2
4.5
7.8
-1.0
1.5
2.5
1.9
13.8
6.3
7.0
15
1.0
2.5
1.9
13.0
4.7
7.7
14
1.4
2.8
2.0
11.8
4.2
7.2
-1.3
1.3
2.6
1.7
15.1
6.7
8.0
-1.5
1.2
2.7
1.8
14.0
6,5
7.3
-1.7
1.1
2.8
1.9
12.4
6.0
6.3
-1.8
.8
2.7
2.0
13.5
6.1
6.2
0
-1.0
1.9
-2.5
3.2
3.4
-4.1
.1
1.6
1.5
.2
Table 1.14-1.15:
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 government purchases.
Seasonally adjusted at annual rates
1982
Table 1.16-1.17:
1. Includes new trucks only.
0
1.0
-1.2
.9
1.9
2.0
-1.9
10
SURVEY OF CURRENT BUSINESS
March 1983
Table 2.2-2.3.—Personal Consumption Expenditures by Major Type of
Product in Current and Constant Dollars
Table 2.1.—Personal Income and Its Disposition
Billions of dollars
Seasonally adjusted at annual rates
1981
1982
Billions of dollars
1981
r
Seasonally adjusted at annual rates
III
1982
IV
I
III
II
1982 r
1981
IV'
Wage and salary disbursements.. 1,493.9 1,560.7 1,512.3 1,531.2 1,541.6 1,556.6 1,570.0 1,574.5
Commodity-producing
industries
„ 510.8 509.9 519.3 517.7 514.3 513.6 510.2 501.6
Manufacturing
..
386.4 382.6 392.9 388.7 385.1 385.6 383.8 375.8
Distributive industries. ............ 361.4 376.0 366.5 368.3 371.4 375.4 378.4 378.8
338.6 372.5 342.8 352.8 359.5 367.6 377.8 385.0
Service industries
Government and government
283.1 302.3 283.8 292.4 296,5 300.0 303.5 309.2
enterprises
140.4
Other labor income
153.8
142.2
Proprietors' income with IVA
and CCAdj
Farm, .. .. .. ,.
Nonfarm
124.7
24.0
100.7
120.3
19.0
101.3
127.5
27.1
100.4
Rental income of persons with
CCAdj
33.9
34.1
Personal dividend income
62.5
67.0
145.8
149.1
152.5
117.3
17.4
99.9
155.5
118.4
16.6
101.7
157,9
128.9
24.1
104.8
124.1
24.6
99.5
116.4
17.8
98.6
33.6
33.6
33.9
34.2
34.6
33.9
64.1
65.2
65.8
66.1
67.2
68.8
Personal interest income
329.0
371.2
339.6
351.0
359.7
372.0
378.2
374.6
Transfer payments
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
336.3
374.7
344.8
350.7
354.6
365.2
381.0
397.8
182.0
204.5
190.6
192.8
194.7
197.5
209.2
216.6
25.5
16.3
54.9
75.2
55.4
77.4
Personal consumption expenditures
II
III
IV '
1,843.2 1,971.1 1,868.8 1,884.5 1,919.4 1,947.8 1,986.3 2,030.8
... . .
234.6
242.7
241.2
229.6
237.9
240.7
240.3
251.8
Motor vehicles and parts ...
Furniture and household
equipment
Other ,
98.6
106.2
104.0
93.9
103.2
103.3
104.3
113.8
93.4
42.6
92.8
43.7
93.8
43.4
93.3
42.4
91.0
43.7
93.2
44.2
92.7
43.3
94.3
43.7
734.5
762.1
741.3
746.5
749.1
755.0
768.4
775.7
375.3
114.6
96.8
147.9
19.7
128.2
397.3
118.6
93.7
152.4
17.7
134.8
378.0
115.9
97.7
149.7
19.9
129.8
382.3
116.0
97.5
150.7
19.2
131.5
387.9
117.5
95.3
148.4
17.3
131.1
395.0
118.4
91.3
150.4
17.3
133.1
401.3
119.1
94.2
153.8
18.4
135.4
405.1
119.4
94.0
157.2
17.6
139.6
874.1
966.3
886.3
908.3
932.4
952.1
977.6 1,003.3
295.3
128.9
66.8
62.1
65.4
384.4
324.6
144.3
75.5
68.9
70.0
427.4
298.7
132.8
69.4
63.5
65.5
389.3
307.0
136.9
71.2
65.7
65.7
398.7
314.5
141.4
75.1
66.3
66.9
409.6
320.4
140.7
72.6
68.1
69.5
421.5
328.2
145.0
75.2
69.9
71.5
432.9
335.4
150.3
79.0
71.3
72.1
445.5
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
31.8
16.7
15.4
16.1
24.9
16.4
14.1
16.0
16.7
16.4
18.7
16.3
23.5
16.1
49.2
73.6
54.0
74.9
49.6
74.4
50.8
74.0
51.5
73.3
54.4
73.8
13.4
60.3
13.2
61.7
13.5
61.0
13.4
60.6
13.2
60.1
13.2
60.6
13.0
62.1
13.3
64.1
Less: Personal contributions
for social insurance
104.9
111.7
106.1
107.0
110.6
111.4
112.4
112.5
Less: Personal tax and nontax
payments
386.7
397.2
398.1
393.2
393.4
401.2
394.4
399.7
personal
2,029.1 2,172.7 2,060,0 2,101.4 2,117.1 2,151.5 2,198.1 2,224.3
Less* Personal outlays
. . . . 1,898.9 2,030.5 1,925.7 1,942.7 1,977.9 2,007.2 2,046.1 2,090.9
Personal consumption expend1,843.2 1,971.1 1,868.8 1,884.5 1,919.4 1,947.8 1,986.3 2,030.8
itures
Interest paid by consumers to
59.2
58.4
59.0
56.2
57.5
57.8
55.1
58.6
business
Personal transfer payments to
.8
.8
.6
.7
.7
.8
.9
foreigners (net)
.8
Equals: Personal saving.........
130.2
142.2
134.4
158.6
139.1
144.3
152.0
133.4
Addenda:
Disposable personal
income:
Total, billions of 1972 dol1,043.1 1,054.8 1,048.8 1,051.9 1,046.9 1,054.8 1,058.3 1,059.1
lars
Per capita:
8,827 9,363 8,951 9,107 9,155 9,285 9,461 9,549
Current dollars .
4,538 4,545 4,557 4,559 4,527 4,552 4,555 4,547
1972 dollars . . .
229.9 ! 232.1 230.1 230.8 231.2 231.7 232.3 232.9
Population (millions)
Personal saving as percentage of disposable personal
income
I
IV
2,415.8 2,569.9 2,458.2 2,494.6 2,510.5 2,552.7 2,592.5 2,624.0
Personal income
Equals: Disposable
income
..
1982
1981
III
*
6.4
6.5
6.5
7.5
6.6
6.7
6.9
6.0
....
Billions of 1972 dollars
Personal consumption expenditures
Durable goods
,.
947.6
956,9
951.4
943.4
949.1
955.0
956.3
967.0
140.0
138.8
142.2
134.1
137.5
138.3
136.4
142.8
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...
55.6
56.1
50.0
54.9
54.4
53.8
59.4
59.1
24.0
61.4
24.7
60.4
23.7
58.5
24.1
59.4
24.4
58.9
23.7
59.7
23.8
365.0
363.0
363.1
362.2
364.5
365.9
367.6
181.4
82.7
25.7
72.6
3.5
69.1
184.0
84.1
26.5
70.4
3.1
67.3
180.9
83.1
26.2
72.9
3.5
69.4
182.0
83.0
25.8
72.3
3.3
69.0
181.7
83.8
26.2
70.4
3.0
67.4
183.0
84.0
27.2
70.2
3.2
67.1
184.9
84.0
26.5
70.5
3.3
67.2
186.4
84.4
26.2
70.5
3.0
67.5
445.2
Nondurable goods
54.2
61.6
24.3
362.4
Motor vehicles and parts ...
Furniture and household
equipment
Other
.
.. ... . .
453.1
446.2
446.2
449.5
452.2
454.0
456.6
162.6
63.5
24.6
38:8
32.4
186.8
165.4
64.0
24.7
39.3
32.4
191.2
162.9
64.1
25.0
39.1
32.1
187.2
163.5
64.4
25.2
39.2
31.7
186.6
164.5
64.5
25.6
38.9
31.9
188.5
165.2
63.4
24.1
39.3
32.5
191.0
165.7
63.7
24.3
39.4
32.7
191.8
166.3
64.5
24.9
39.6
32.4
193.3
Table 3.14 .—State and Local Government Social Insurance Funds
Receipts and Expenditures
[Billions of dollars]
52.6
Receipts
Contributions for social insurance
Personal contribution
Employer contributions
Government and government enterprises ....
Other
Interest and dividends received
Expenditures....,...,
Administrative
expenses
(purchases of goods and
services)
,
Transfer payments to persons..., ....
Surplus
( )
or
deficit
59.3
53.4
55.1
56.8
58.5
60.1
61.8
338
372
342
351
360
369
37.7
384
8.5
25.3
9.2
28.1
8.6
25.6
8.7
26.3
8.9
27.1
9.1
27.8
9.2
28.4
9.4
29.1
22.7
2.5
25.4
2.7
23.1
26
23.7
2.6
24.4
2.6
25.1
2.7
25.7
2.7
26.3
2.8
188
221
192
20.0
208
216
22.5
23.3
20.8
23.0
21.1
21.7
22.3
22.8
23.3
23.7
6
.7
6
.6
7
7
7
7
20.2
22.3
204
21.1
216
221
22.6
23.0
318
36.3
32.3
33.3
34.5
35.7
36.9
38.0
Table 3.14:
NOTE.—In this table, interest and dividends received are included in receipts; in tables 3.2 and
3.3, interest received and dividends received are netted against expenditures.
11
SURVEY OF CURRENT BUSINESS
March 1983
Table 3.3.—State and Local Government Receipts and Expenditures
Table 3.2.—Federal Government Receipts and Expenditures
Billions of dollars
1982r
1981
Billions of dollars
Seasonally adjusted at annual rates
Seasonally adjusted at annual rates
III
Receipts
Personal tax and nontax
receipts
Income taxes..........
,
Estate and gift taxes.
Nontaxes
Corporate profits tax accruals
Indirect business tax and
nontax accruals.......
Excise taxes
Customs duties
Nontaxes
Contributions for social
insurance
....
640.2
614.2
628.2
298.1
290.8
7.0
.3
300.1
292.4
7.5
.3
IV
625.7
307.9
300.6
7.1
.3
300.9
293.2
7.5
.3
IV
613.7
616.1
305.8
297.5
8.0
.3
299.9
291.1
8.5
.3
1982
III
III
617.0
609.9
1981
r
II
I
1982r
1981
1982
1981
295,6
288.1
7.2
.3
67.3
47.5
68.4
59.1
46.5
45.2
49.8
48.4
58.5
44.1
8.6
5.8
50.0
34.7
8.5
6.8
57.8
43.1
9.0
5.8
57,2
41.9
9.3
6.1
48.7
33.6
8.7
6.3
49.8
34.6
8.6
6.6
50.8
35.5
8.5
6.8
50,7
35.1
8.3
7.3
204.3
216.6
206.1
208.4
214.9
216.2
217.5
217.8
688.2
763.4
698.2
727.4
728.3
736.6
769.7
257.9
178.6
79.3
322.2
315.8
6.3
230.0
154.4
75.7
295.1
289.0
6.1
250.5
166.9
83.6
300.7
294.0
6.6
249.7
166.2
83.5
303.2
297.2
6.0
244.3
176.2
68.2
312.8
307.0
5.8
259.0
182.7
76.3
327.4
321.8
5.6
278.7
189.3
89.4
345.3
337.4
8.0
87.7
71.9
91.4
83.7
85.0
107.8
86.3
74.0
94.3
83.6
79.0
99.5
83.0
79.6
101.8
85.0
82.8
105.1
82.0
88.7
111.9
84.6
89.1
112.5
74.6
16.7
19.5
89.9
18.0
22.8
77.2
17.1
20.3
82,4
17.1
20.6
83,9
17.9
22.1
87.6
17.4
22.3
94.2
17.8
23.2
93.7
18.8
23.4
Subsidies less current surplus of government
enterprises
Subsidies
Less: Current surplus of
government enterprises ,.
13.1
12.2
14.6
14.1
13.0
12.0
13.6
13.8
12.7
13.7
11.6
12.6
12.6
11.8
21.4
18.1
-.9
-.5
-1.0
.3
1.1
1.0
-.8
-3.3
Less: Wage accruals less
disbursements
0
0
.2
1
-.2
0
0
III
IV r
437.3
420.3
421.5
424.2
434.3
440.5
450.2
88.6
48.3
32.0
8.3
97.1
51.9
36.4
8.8
90.3
49.3
32.6
8.4
92.3
50.1
33.7
8.5
93.6
50.2
34.8
8.6
95.4
50.8
35.9
8.7
98.8
53.0
37.0
8.9
100.5
53.5
38.0
9.0
819,2
228.9
153.7
75.2
286.6
280.9
5.7
II
I
416.8
Receipts
Personal tax and nontax
receipts. ,,
Income taxes .
Nontaxes
,
Other
Corporate profits tax accruals .
... .» .
Indirect business tax and
nontax accruals
Sales taxes
Property taxes
Other
Contributions for social insurance
Federal grants-in-aid.. . ,. ......
299,2
292.8
6.1
.3
IV
Expenditures
,
13.9
Surplus or deficit
(— ), NIPA's
Social insurance funds
Other..
-60.0
149.3
-58.0
-11.0
-49.0
306
1186
166
-41.4
0
-101.7 -118.4 -119.6
19 3 -16.4
-82.4 -102.0
-24.1
955
10.1
10.2
11.2
11.0
198.0
91.8
77.8
28.4
201.5
92.6
79.8
29.2
206.9
95.0
81.8
30.0
210.9
96.1
84.7
30.2
215.7
97.7
88.0
30.1
37.2
83.7
34.2
86.3
35.1
83.6
36.0
83.0
36.9
85.0
37.7
82.0
38.4
84.6
405.1
386.9
392.4
396.5
402.2
408.2
413.5
368.0
389.4
370.1
375.7
380.4
386.6
392.7
398.0
207.4
160.6
222.9
166.5
209.2
161.0
213.0
162.7
217.1
163.2
221.4
165.2
224.7
168.0
228.4
169.6
43.0
-16.9
23.7
40.6
45.1
19 5
28.0
47.5
43.3
-17.4
24.2
41.5
43.9
178
25^3
43.1
44.3
185
26.4
44.9
44.7
19 2
27.4
46.7
45.4
198
28.5
48.3
46.2
202
29.7
49.9
Less: Dividends received ........
2.6
3.3
2.7
2.8
3.0
3.2
3.3
3.5
Subsidies less current surplus of government
enterprises
Subsidies
Less: Current surplus of
government enterprises..
-6.5
.4
-6.8
.5
-6.5
.4
-6.6
.4
-6.6
.4
-6.7
.4
-6.8
.5
69
.5
6.9
7.2
6.9
7.0
7.1
7.2
7.3
7.4
Less: Wage accruals less
disbursements
0
0
0
0
0
0
0
0
31.7
32.2
33.5
29.1
27.7
32.1
32.3
36.6
31.8
-.1
36.3
-4.1
32.3
1.2
33.3
42
34.5
-6.8
35.7
-3.6
36.9
-4.5
38.0
-1.4
Surplus or deficit
(-), NIPA's...
Social insurance funds
Other
156 0 -203.1
-36.5
1196
12.5
195.5
91.8
76.0
27.8
385.0
Purchases of goods and
services ....... . ... ......
Compensation of employees .. ..
Other
Transfer payments to persons
Net interest paid
Interest paid
Less: Interest received
14.0
208.7
95.3
83.6
29.9
33.8
87.7
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
10.6
192.8
90.4
75.1
27.2
...
-45.5
157 5
Table 3.7B-3.8B.—Government Purchases of Goods and Services by Type in Current and Constant Dollars
Billions of dollars
Billions of 1972 dollars
Seasonally adjusted at annual rates
1981
1981
1982'
III
Government purchases of goods and services
Federal
,
National defense..
Durable goods....
Nondurable goods..
Services .. ..... . -.
,.
Compensation of employees
Military
Civilian
Other services
,
Structures....
Nondefense
Durable goods .. ...
Nondurable goods
Services
Compensation of employees
Other services
Structures
State ..
.. . , ,
Durable goods
Nondurable goods
Services
..
.
Compensation of employees ...
Other services
,
Structures
.
IV
I
II
1981
III
1982'
IVr
1981
1982
III
IV
I
II
III
IV
596.9
,
. ..
..
. ... ...
..
..
,
*
*
......
Seasonally adjusted at annual rates
1982
647.4
600.2
626.3
630.1
630.9
651.7
676.8
287.1
291.3
286.4
291.3
289.2
285.3
291.1
299.5
228.9
153.7
40.1
12.6
98.0
60.8
35.6
25.2
37.2
3.0
257.9
178.6
49.0
13.9
112.1
67.2
40.2
27.0
44.9
3.6
230.0
154.4
41.6
11.9
98.0
59.8
34.6
25.2
38.1
2.9
250.5
166.9
42.7
13.2
107.6
65.6
39.4
26.2
42.0
3.4
249.7
166.2
43.1
13.6
106.0
66.3
39.7
26.5
39.8
3.5
244.3
176.2
48.9
13.4
110.7
66.5
39.8
26.7
44.1
3.3
259.0
182.7
51.7
13.2
113.8
66.8
39.9
26.9
47.0
4.0
278.7
189.3
52.2
15.5
118.0
69.2
41.4
27.9
48.7
3.7
110.4
73.5
19.7
2.6
49.9
32.8
19.3
13.5
17.1
1.4
116.4
78.6
21.7
2.9
52.5
33.3
19.6
13.8
19.2
1.6
110.7
74.3
20.2
2.4
50.3
33.0
19.3
13.6
17.3
1.3
116.0
76.1
20.1
2.6
51.8
33.1
19.4
13.6
18.8
1.5
114.4
74.5
19.9
2.8
50.3
33.2
19.5
13.7
17.1
1.5
110.3
78.2
21.7
2.8
52.3
33.3
19.5
13.7
19.1
1.4
116.2
80.6
22.8
2.7
53.4
33.3
19.6
13.8
20.1
1.7
124.7
81.0
22.3
3.0
54.1
33.5
19.6
13.9
20.6
1.6
75.2
2.5
11.0
55.0
31.5
23.5
6.8
79.3
2.7
15.0
55.7
32.6
23.1
6.0
75.7
2.1
12.3
54.4
31.1
23.2
6.8
83.6
2.5
18.9
55.7
32.2
23.5
6.4
83.5
2.8
18.4
56.1
32.4
23.7
6.3
68.2
2.6
4.8
54.7
32.4
22.3
6.0
76.3
2.5
12.8
55.1
32.3
22.7
6.0
89.4
2.8
23.9
56.8
33.2
23.7
5.9
36.8
1.3
4.1
28.4
16.9
11.5
3.1
37.8
1.3
6.8
27.1
16.5
10.6
2.6
36.5
1.1
4.2
28.1
16.8
11.3
3.0
39.9
1.2
7.9
27.9
16.7
11.2
2.8
39.8
1.3
8.1
27.7
16.6
11.1
2.7
32.1
1.3
1.4
26.8
16.5
10.3
2.6
35.5
1.2
5.0
26.8
16.5
10.3
2.6
43.7
1.3
12.7
27.1
16.4
10.6
2.5
368.0
12.0
30.3
282.8
207.4
75.4
42.9
389.4
12.5
32.2
304.4
222.9
81.4
40.4
370.1
12.1
30.7
285.9
209.2
76.7
41.4
375.7
12.2
31.3
290.6
213.0
77.6
41.6
380.4
12.3
31.7
296.1
217.1
79.0
40.3
386.6
12.4
31.8
302.3
221.4
80.8
40.1
392.7
12.5
32.4
306.9
224.7
82.3
40.8
398.0
12.8
32.8
312.1
228.4
83.7
40.3
176.7
6.0
11.4
140.7
106.3
34.4
18.6
174.9
6.0
11.9
139.7
105.6
34.1
17.4
175.7
6.0
11.5
140.4
106.1
34.3
17.9
175.3
5.9
11.6
139.9
106.0
33,9
17.9
174.9
5.9
11.7
140.0
106.0
34.0
17.2
175.0
5.9
11.8
140.0
105.9
34.1
17.2
174.9
5.9
11.9
139.5
105.4
34.1
17.6
174.8
6.0
12.0
139.3
105.3
34.0
17.4
12
SURVEY OF CURRENT BUSINESS
March 1983
Table 4.1-4.2.—Foreign Transactions in the National Income and Product Accounts in Current and Constant Dollars
Millions of dollars
Billions of 1972 dollars
Seasonally adjusted at annual rates
1982 r
1981
1981
III
Receipts from foreigners
Seasonally adjusted at annual rates
1982
IV
I
1981
II
III
1982 r
IV
1981
1982
III
II
I
IV
III
IV r
368.4
368.3
369.0
359.9
365.8
349.5
328.1
350.8
209.4
119.4
90.0
367.2
226.3
133.2
93.1
367.9
227.8
130.1
97.8
359.9
221.4
123.9
97.5
365.8
218.9
123.9
95.0
349.5
207.3
121.0
86.3
328.1
190.0
108.8
81.2
158.5
89.8
51.8
38.0
148.1
80.3
43.2
37.1
157.8
87.0
50.3
36.6
156.9
87.6
48.6
39.0
151.7
84.0
45.2
38.8
154.4
83.5
44.8
38.7
147.5
79.8
43.7
36.1
138.8
73.8
39.1
34.7
135.5
86.1
49.4
Services
Factor income l
Other
350.8
367.3
231.9
134.4
97.4
Exports of goods and services
Merchandise
Durable goods
Nondurable goods
141.4
88.3
53.1
140.8
89.6
51.3
140.1
89.5
50.6
138.5
85.9
52.6
146.8
93.8
53.0
142.2
88.4
53.8
138.1
85.1
53.0
68.7
44.5
24.2
67.8
43.0
24.8
70.9
45.9
25.0
69.3
44.8
24.5
67.7
42.5
25.1
70.9
45.9
25.0
67.7
42.7
24.9
64.9
40.7
24.2
1.1
1.1
0
0
0
0
120.4
83.8
55.2
28.6
114.7
76.7
51.6
25.1
118.7
78.6
52.0
26.6
120.0
82.2
53.2
29.1
111.6
76.6
49.0
27.5
36.6
18.1
18.5
38.1
19.8
18.2
40.1
21.7
18.4
37.8
20.2
17.6
35.0
17.3
17.7
Capital grants received by the United States (net)
1.1
0
Payments to foreigners
368.4
350.8
368.3
369.0
359.9
365.8
349.5
328.1
Imports of goods and services
Merchandise
Durable goods
Nondurable goods..
341.3
260.1
123.7
136.4
330.3
244.8
123.7
121.1
341.3
257.9
126.3
131.7
344.4
263.5
130.5
133.1
328.6
243.9
125.4
118.5
330.9
241.1
127.7
113.4
342.5
256.5
127.4
129.1
319.1
237.7
114.2
123.5
116.4
79.1
51.9
27.2
116.3
78.5
51.4
27.1
118.7
80.3
53.0
27.3
81.1
36.9
44.2
85.5
40.6
44.9
83.4
39.9
43.5
80.9
36.1
44.8
84.7
40.0
44.7
89.8
44.3
45.5
86.0
41.8
44.2
81.3
36.1
45.2
37.4
19.1
18.3
37.7
19.8
18.0
38.4
20.4
18.0
6.3
.6
5.7
7.2
.8
6.3
6.7
.7
6.1
7.3
.7
6.6
6.9
.8
6.0
6.7
.9
5.8
6.4
.8
5.6
8.8
.8
8.0
18.0
17.1
17.1
17.9
17.4
3.1
.1
6.5
10.8
Services
Factor income l
Other
Transfer payments (net)
From persons (net)
From government (net)
Interest paid by government to foreigners ....
.
16.7
Net foreign investment
-4.6
4.1
17.8
-17.3
-
18.8
-18.5
Table 4.1-4.2:
Equals rest-of-the-world production as shown in tables 1.5-1.6.
Table 4.3-4.4.—Merchandise Exports and Imports by Type of Product and by End-Use Category in Current and Constant Dollars
Billions of 1972 dollars
Billions of dollars
Seasonally adjusted at annual rates
Seasonally adjusted at annual rates
1981
1982
1981
1982'
III
IV
II
I
1981
III
1982 r
III
IV
1982
1981
IV
I
II
III
IV r
73.8
Merchandise exports
231.9
209.4
226.3
227.8
221.4
218.9
207.3
190.0
89.8
80.3
87.0
87.6
84.0
83.5
79.8
Foods, feeds, and beverages
38.3
32.1
34.9
35.7
36.0
36.6
29.0
26.9
15.5
14.7
14.6
15.7
15.7
16.4
13.7
13.1
Industrial supplies and materials .
Durable goods
Nondurable goods
.
65.4
20.4
45.0
61.6
17.0
44.6
63.4
19.0
44.4
67.1
19.4
47.7
66.5
17.9
48.6
63.1
17.6
45.4
59.4
16.5
42.9
57.4
16.1
41.3
22.3
7.0
15.4
21.7
6.0
15.7
21.5
6.5
15.1
22.9
6.6
16.7
22.9
6.1
16.7
21.9
6.1
15.8
21.2
5.9
15.3
20.7
5.8
14.9
Capital goods except autos
81.7
74.2
80.9
80.8
77.4
77.1
74.2
67.9
32.9
27 .4
31.8
31.2
29.0
28.6
27.3
24.6
Autos
19.1
16.7
20.2
16.8
17.3
17.9
17.7
13.9
6.7
5.3
6.9
5.5
5.6
5.7
5.6
4.5
Consumer goods
Durable goods
Nondurable goods
16.3
7.7
8.6
14.7
6.5
8.2
16.3
7.8
8.5
15.5
7.1
8.4
14.7
6.6
8.1
15.3
6.8
8.5
14.7
6.4
8.2
14.2
6.1
8.1
8.1
3.2
5.0
7.3
2.6
4.7
8.1
3.1
4.9
7.6
2.9
4.7
7.2
2.6
4.5
7.6
2.7
4.8
7.3
2.5
4.8
7.2
2.4
4.8
11.1
5.5
5.5
10.1
5.1
5.1
10.7
5.4
5.4
11.9
5.9
5.9
9.5
4.8
4.8
8.9
4.4
4.4
12.4
6.2
6.2
9.8
4.9
4.9
4.3
2.1
2.1
3.9
1.9
1.9
4.1
2.1
2.1
4.6
2.3
2.3
3.6
1.8
1.8
3.4
1.7
1-7
4.8
2.4
2.4
3.8
1.9
1.9
Merchandise imports
260.1
244.8
257.9
263.5
243.9
241.1
256.5
237.7
79.1
78.5
80.3
83.8
76.7
78.6
82.2
76.6
Foods feeds and beverages
18.1
17.2
17.8
17.2
14.9
17.2
19.1
17.7
7.0
7.2
7.0
7.2
6.1
7.2
8.1
7.4
Industrial supplies and materials, excluding petroleum
Durable goods
Nondurable goods
56.3
33.3
23.0
50.7
27.9
22.8
57.8
34.4
23.4
56.8
33.2
23.6
54.1
31.7
22.4
51.2
29.1
22.2
50.6
27.0
23.6
46.8
23.9
22.8
19.0
11.2
7.8
17.7
9.7
8.0
19.5
11.6
7.9
19.4
11.3
8.1
18.3
10.7
7.6
17.7
10.0
7.7
17.9
9.5
8.4
16.8
8.6
8.3
Petroleum and products
77.6
61.2
72.6
72.4
62.6
53.7
65.8
62.9
6.0
5.1
5.7
5.8
5.0
4.5
5.5
5.2
17.7
Other
Durable goods
Nondurable goods
.
.
.
34.6
Capital goods, except autos
Autos
Consumer goods
Durable goods
Nondurable goods
Other
Durable goods
Nondurable goods
Addenda:
Exports:
Agricultural products
Nonagricultural products . . .
Imports of nonpetroleum products
...
..
35.5
35.1
37.3
35.1
36.4
36.6
33.7
18.0
18.2
18.6
20.1
17.9
18.2
19.1
29.7
33.5
30.8
31.4
30.6
35.7
37.3
30.4
10.3
10.7
10.7
10.4
9.8
11.6
11.8
9.7
38.7
23.5
15.1
39.6
23.3
16.4
38.7
23.4
15.3
41.9
25.3
16.7
40.5
24.9
15.6
38.2
22.2
16.0
40.6
23.3
17.3
39.2
22.6
16.6
16.7
11.3
5.4
16.8
11.4
5.4
16.8
11.1
5.6
18.3
12.1
6.2
17.1
11.9
5.1
16.0
10.5
5.5
17.1
11.4
5.7
16.9
11.7
5.2
5.2
2.6
2.6
7.1
3.6
3.5
5.1
2.5
2.5
6.5
3.3
3.3
6.0
3.0
3.0
8.8
4.4
4.4
6.5
3.3
3.2
7.1
3.5
3.5
2.1
1.0
1.0
2.8
1.4
1.4
2.0
1.0
1.0
2.7
1.3
1.3
2.4
1.2
1.2
3.5
1.7
1.7
2.6
1.3
1.3
2.9
1.4
1.4
44.3
187.6
182.6
37.8
171.6
183.6
39.8
186.6
185.3
42.4
185.5
191.2
42.0
179.4
181.3
42.6
176.3
187.5
33.9
173.3
190.7
32.7
157.3
174.9
18.0
71.8
73.1
17.3
63.0
73.4
16.6
70.4
74.5
18.5
69.1
78.0
18.4
65.5
71.6
19.2
64.3
74.1
15.9
63.9
76.7
15.7
58.2
71.3
13
SURVEY OF CURRENT BUSINESS
March 1983
Table 5.10-5.11.—Inventories and Final Sales of Business in Current
and Constant Dollars
Table 5.1.—Gross Saving and Investment
Billions of dollars
Billions of dollars
Seasonally adjusted at annual rates
1982 '
1981
1982
1981
I
IV
III
Seasonally adjusted quarterly totals
477.5 414.7
Gross saving
490.0
476.3
428.8
441.5
422.4
531.8
142.2
513.4
134.4
547.7
158.6
519.4
139.1
529.0
144.3
546.1
152.0
532.6
133.4
33.2 43.9 44.3
47.3 84.0 76.9
171
92 -23.0
49 -17.1 -15.5
31.6
46.1
-4.4
101
30.7
47.0
-9.4
69
34.8
48.8
-10.3
-3.8
35.8
47.0
12.6
1.3
216.0
128.7
218.9
129.8
223.4
130.5
227.5
131.9
230.6
132.9
0
0
0
0
0
Undistributed corporate prof44.4
its with IVA and CCAdj
85.8
Undistributed profits
-24.6
IVA
168
CCAdj
Capital consumption allowances with CCAdj:
Corporate
Noncorporate..
Wage accruals less disbursements
206.2 225.1 209.7
123.9 131.3 125.5
0
0
0
Government surplus or
72.5
-28.2 -117.1 -24.5
deficit ( ) NIPA's
Federal
.. .. ..... 60.0 -149.3 -58.0 -10L7
32.2 33.5 29.1
31.7
State and local
Capital grants received by the
United States (net)
-87.5 -123.7 -166.4
-90.7
118.4 ~ 119.6 -156.0 -203.1
36.6
32.1
32.3
27.7
0
0
0
0
469.0
421.3
422.3
426.0
373.1
471.5 420.3 486.0 468.9
.1
3.1
4.1 -4.6
414.8
6.5
431.5
10.8
443.3
17.3
391.5
-18.5
.8
3.6
6.9
0
1.1
475.6
Gross investment. .,,..
Gross private domestic investment
Net foreign investment
415.7
-1.9
Statistical discrepancy
1.1
1.1
489.1
1.0
-7.5
-7.2
-.8
Table 5.8-5.9.—Change in Business Inventories by Industry in Current
and Constant Dollars
Seasonally adjusted at annual rates
1981
1982 r
1981
III
Change in business inventories
,.
Farm
.,
.
Nonfarm
.
Change in book value...
IVA1
..
.. ..
..
Manufacturing
Nondurable goods
Wholesale trade
Durable goods
Nondurable goods
Merchant wholesalers
Durable goods
....
.,...,.
Nonmerchant wholesalers
Nondurable goods
Retail trade...........
Durable goods .
Nondurable goods
Other .,..,.....
Durable goods
. ..
Nondurable goods....... ,
20.5 -23.8
31.8
1982
IV
13.2
I
35.6
II
162
III
4.7
IV
48.3
7.2
.4
1.0
1.7
7.2
12
5.5
.5
3.7 -50.0
6.0 360 150
15.0 243 24.6
14.8 -35.9
43.5 -14.0 48.9 26.6 -30.5
-4.6
-28.6 -10.3 -24.3 -20.5 -5.6 -10.4 -11.1 -14.1
15.1
6.0 -21.5
4.4
15 1 15.4
1.7 -6.4
-.3
-1.6
2.8 -2.7
2.7 -2.9
2.8
.3 -4,4
.1
5
3,0
.6
2.8 -1.6
1.7
.3
1.2
10
-.2 -2.2 -2.2
0
13
1.1
— 9
-.2
33
-!e 11.6
6.5
Y
4.3
2.6
.1
7.3
3.8
3
.4
.5
2 -2.7
10
.7
2.2
.6
-8.7
72
-1.4
10.4
5.3
5.1
10.9
6.3
4.6
-.5
10
.5
1.7
-1.0
2.7
2.7
27
5.4
-17.8
210 -12.6
346
-14.8
9 1 -8.5 -28.0
-3.0
119 -4.2
66
-12.5
2.4
2.1 -2.7
7
3.8
66
82
-5.8
3.1 -1.7
5.5
7.6
1.7 -2.9
81
0
51
4.6 -6.2
3i
7.5
30
3.3
.4
-4.3
-5.1
.2
7
-.8 -2.1
15
28 -4.4
1.3
2.2
-8.7
2.9
15.5 -12.1
-8.6
3.2 14.8 -12.2
0
.7
.1
-.3
2.9
.7 -1.3
6
8
0
-.1
.1
.7
1.2
.6
3.7
Billions of 1972 dollars
Change in business inventories
Farm
Nonfarm
Change in book value
IVA1
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
Durable goods
Nondurable goods
9.0
-9.2
16.5
4.8 -15.4
-4.4
3.4 -20.3
2.1
6.8
.2
-9.4
3.0
13.6
.2
3.2
1.6 -15.6
-.6
-3.8
.5
.8
2.9 -21.1
2.6
1.9
.7
1.5
1.2
.3
1.5
1.2
.3
0
0
0
3.1
1.2
1.8
-.2
-.5
.2
-8.7
-6.3
-2.4
7
-1.1
.4
0
6
.6
-.8
7.6
6.5
1.0
1.1
1.4
3
1.0
.9
0
.1
.5
3
5.5
1.9
3.5
-.6
12
.7
-8.1
65
-1.6
45
-2.7
19
-3.4
20
-1.4
-1.1
-.7
5
-4.0
42
.2
1.0
-.3
1.4
-7.3
-3.7
-3.7
1.8
-.4
2.2
2.8
-.1
2.9
-1.0
3
-.7
1.3
1,4
-.1
,4
0
.4
-5.0 -14.4
11 5
-3.6
-1.4
-2.9
14
1.1
1.7 -3.2
-.6
1.9
6
1.3
2.0 -2.4
7
1.8
-.3 -.8
9
-.4
,1
.1
7.1 -5.2
6.8 -5.4
.2
.3
3
-.1
0
0
2
-.2
2
— 2
'3
.1
.3
1
.3
-3.6
31
-.5
4.5
2.3
2.2
4.8
2.7
2.1
-.3
-.4
.1
,6
4
1.0
.2
-1.2
1.4
Farm
Nohfarm
IV r
812.5
86.4
726.1
413.0
313.1
816.0
83.5
732.5
419.2
313.4
803.6
80.9
722.8
409.5
313.3
358.1
231.4
126.7
352.7
229.9
122.7
351.3
229.5
121.8
343.4
223,5
119.9
163.0
103.0
60.0
130.8
86.9
43.9
32.2
16.1
16.1
158.4
101.5
56.9
128.5
85.9
42.6
29.9
15.6
14.3
160.8
102.0
58.8
131.7
86.5
45.2
29.1
15.5
13.6
161.9
104.0
57.9
132.5
88.6
43.9
29.4
15.4
14.0
161.9
102.6
59.4
132,4
87,6
44.8
29.5
15.0
14,5
139.1
63.6
75.5
69.1
140.7
64.1
76.6
70,5
137.6
61.8
75.8
71.1
140.2
63.3
77.0
72.4
145.6
67.8
77.7
73.7
143.2
65.5
77.7
74.2
208.5
130.6
210.4
130.7
213.8
132.2
215.5
132.1
217.1
131.2
222.2
134.1
3.91
3.51
3.91
3.52
3.79
3.39
3.77
3.37
3.76
3.37
3.62
3.25
5.61
...... ,,.,,.•
Durable goods
• .••«'
Wholesale trade
Durable goods ,
Nondurable goods
Merchant wholesalers
Durable goods ..
Nondurable goods
,
..
Durable goods
Nondurable goods
...
Retail trade .
Durable goods
Nondurable goods .
Other
.. ...
.....
..... ...
Final sales 2
. . .
Final sales of goods and structures
Ratio" Inventories to final sales. ..
Nonfarm inventories to final sales
Nonfarm inventories to final sales of goods
and structures
5.67
5.48
5.50
5.58
5.39
822.4
81.8
740.5
421,8
318.8
809.7
84.5
725.2
412.3
312.9
365.1
235.8
129.3
366.4
236.8
129.6
159.5
100.7
58.8
127.4
84.6
42.8
32.1
16.2
16.0
,
Nondurable goods .
IV
814.3
81,5
732.8
418.5
314.2
II
Billions of 1972 dollars
Inventories x .
Billions of dollars
III
I
III
366.2
504.7
130.2
Gross private saving
1982
1981
IV
III
II
,
346.4
347.6
343.7
342.6
343.5
338.4
...........
42.4
304.0
185.1
118.9
43.2
304.4
184.5
119.9
43.3
300.5
181.0
119.4
43.1
299.5
180.4
119.1
43.3
300.2
181.6
118.6
43.4
295.0
176.6
118.4
.
149.4
102.5
46.8
148.4
101.8
46.7
146.4
100.1
46.3
144.6
99.2
45.4
143.3
98.3
45.0
139.7
95.4
44.3
..,.....,....,.,..,.,.
65.4
43.9
21.4
54.1
36.7
17.4
11.2
7.2
4.1
66.5
44.5
22.0
55.3
37.4
17.9
11.1
7.1
4.1
65.3
43.8
21.5
54.5
36.9
17.6
10.9
6.9
4.0
65.8
43.7
22.1
55.2
36.9
18.3
10.6
6.8
3.8
66.1
44.1
21.9
55.5
37.4
18.1
10.5
6.7
3.8
65.7
43.3
22.4
55.4
36.8
18.6
10.3
6.5
3.8
65.9
30.4
35.5
23.3
66.1
30.3
35.7
23.4
65.1
29.3
35.8
23.6
65.4
29.7
35.7
23.7
67.2
31.3
35.8
23.7
65.9
30.0
35.9
23.6
105.5
66.4
104.6
65.6
105.0
65.8
104.6
65.0
104.3
64.5
105.8
65.9
3.28
2.88
3.32
2.91
3.27
2.86
3.28
2.86
3.29
2.88
3.20
2.79
4.58
4.64
4.57
4.60
4.65
4.48
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
Final sales of goods and structures
,
..
Ratio* Inventories to final sales
Nonfarm inventories to final sales
Nonfarm inventories to final sales of goods
and structures
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 quarter 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. Business final sales less gross product of households and
institutions, government, and rest-of-the-world and includes a small amount of final sales by
farms.
Table 5.8-5.9:
1. The 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 etc.) underlying book value inventories
derived primarily from Census Bureau Statistics. The mix differs from that underlying business
income derived primarily from Internal Revenue Service statistics.
2. Consists of personal consumption expenditures, producers' durable equipment, and government purchases.
14
SURVEY OF CURRENT BUSINESS
Table 6.4.—National Income Without Capital Consumption Adjustment
by Industry
March 1983
Table 7.1.—Implicit Price Deflators for Gross National Product
Index numbers, 1972=100
Billions of dollars
Seasonally adjusted
Seasonally adjusted at annual rates
1981
1982 r
1981
1981
1982 r
1982
IV
III
I
II
I
IV
III
m
II
1982
1981
III
IV
ryr
195.51 207.15 197.36 201.55 203.68 205.98 208.51 210.42
Gross national product
National
income
without CCAdj.. ........ 2,410.6 2,479.3 2,446.0 2,462.1 2,447.6 2,470.1 2,495.8 2,503.8
Domestic industries
2,361.4 2,431.6 2,396.3 2,408.8 2,401.7 2,420.6 2,449.3 2,454.8
Private industries
2,025.4 2,070.7 2,059.0 2,060.9 2,048.6 2,062.6 2,086.6 2,085.0
Agriculture,
forestry,
and fisheries. „.,....,
Mining .,
.. ..
Construction
68.7
44.9
113.4
68.5
44.8
113.2
72.7
47.0
112.8
71.6
49.0
113.4
66.1
49.3
112.9
66.6
45.5
112.8
66.5
42.9
112.9
74.8
41.2
114.2
Manufacturing
Durable goods.
Nondurable goods
580.8
344.8
236.0
552.3
319.2
233.1
595.4
349.3
246.1
573.1
336.7
236.4
555.2
323.1
232.1
556.0
326.8
229.1
560.4
324.1
236.3
537.7
302.9
234.8
190.9
87.0
55.3
199.9
86.1
59.5
193.9
87.6
56.8
197.7
86.5
58.3
198.5
85.3
59.3
200.2
87.1
59.2
201.0
86.9
60.1
199.8
84.9
59.5
48.6
54.3
49.6
52.8
53.8
53.9
54.0
55.4
155.8
197.5
155.8
207.2
156.0
201.6
162.9
199.1
157.3
203.6
154.6
205.7
155.4
209.1
155.8
210.5
324.2
349.4
348.3
380.8
326.2
353.4
331.5
362.7
336.4
369.3
345.0
376.1
352.7
385.6
358.9
392.2
336.0
360.9
337.3
347.9
353.2
358.0
362.7
47.7
49.7
53.3
45.8
49.5
46.6
194.5
167.5
202.7
196.3
206.0
174.9
208.8
213.3
196.4
169.7
204.2
198.6
199.8
171.3
205.6
203.6
202.2
173.0
206.8
207.4
204.0
174.0
207.1
210.6
207.7
176.1
210.0
215.3
210.0
176.3
211.0
219.7
Gross private domestic
investment
Fixed investment
Nonresidential
Structures
Producers' durable equipment ..
Residential
Nonfarm structures
Farm structures
Producers' durable equipment ..
208.0
201.3
251.5
179.8
233.6
237.1
236.9
159.4
215.5
210.0
266.4
183.4
238.5
241.9
242.7
168.4
209.4
203.0
252.7
181.4
235.8
239.4
237.9
161.3
212.9
206.8
261.9
182.5
239.2
243.3
242.7
162.8
213.6
207.6
264,5
181.9
240.5
244.3
243.8
165.7
216.6
211.3
267.6
184.6
238.6
242.1
242.0
168.1
216.2
210.7
266.7
183.8
238.8
242.3
241.9
169.4
215.8
210.4
266.8
183.1
236.3
239.2
243.3
170.3
Net exports of goods and
services
Exports
*.
Imports...,.
,
231.8
293.1
236.9
284.1
232.6
287.7
234.5
286.1
237.3
286.4
236.8
278.8
236.9
285.4
236.5
286.0
207.9
207.4
209.0
204.2
208.2
222.3
221.6
227.2
210.1
222.7
209.5
207.8
207.9
207.4
210.7
215.0
216.0
219.5
209.4
214.3
217.8
218.3
223.0
209.6
217.5
221.1
221.6
225.2
212.6
220.9
223.9
223.0
226.5
214.9
224.5
226.0
223.5
233.6
204.8
227.8
,
„ ... .
369.8
49.2
Personal consumption
expenditures
Durable goods
Nondurable goods
Services
49.0
..
Transportation and
public utilities
Transportation
Communication
Electric, gas, and
sanitary services
Wholesale trade
Retail trade
Finance, insurance, and
real estate
Government and government enterprises......
Rest of the world ...
„..
Government purchases of
goods and services
Federal... ..
National defense
Nondefense
„.
State and local
Table 7.2.—Fixed-Weighted Price Indexes, 1972 Weights, for Gross
National Product
Table 6.20.—Corporate Profits by Industry
Billions of dollars
Fixed-weighted price indexes, 1972=100
Seasonally adjusted at annual rates
1981
1982 r
III
Corporate
profits
with
IVA
and
CCAdj
IV
1981
II
I
III
profits
Domestic industries
Financial
..
. ...
Federal Reserve Banks...
Other
Nonfinancial
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
Transportation and
public utilities
Wholesale and retail
trade ..
.. .....
Other....
Rest of the world .
183.9
157.1
155.4
166.2
167.5
143.5
24.0
119.5
18.1
172.2
20.3
151.8
21.0
158.3
20.1
138.2
25.7
140.2
19.9
120.3
16.9
137.2
22.4
114.8
18.2
149.9
24.7
125.3
16.3
146.6
29.0
117.6
20.9
207.5
166.4
210.3
199.4
167.2
162.2
170.0
166.2
184.6
148.4
189.3
173.7
150.3
144.1
153.7
145.3
22.7
14.5
8.1
23.7
15.7
8.0
20.8
15.2
5.5
20.4
15.6
4.8
20.0
16.1
3.9
22.2
16.0
6.2
24.2
15.8
8.4
28.3
14.9
13.5
162.0
86.3
28.4
124.7
56.5
8.9
168.5
92.2
27.4
153.3
73.7
18.9
130.4
57.7
9.1
121.9
56.6
12.7
129.5
62.7
12.2
117.0
-3.1
-6.5
-5.4
4.1
.7
5.4
3.4
4.4
3.8
4.7
4.0
9.3
4.8
9.6
9.9
8.3
4.8
3.7
5.1
3.3
4.8
4.3
3.6
3.7
3.2
-1.1
6.2
.3
1.7
-2.8
6.3
-1.8
2.4
3.3
3.5
3.2
2.7
57.9
47.6
64.8
54.7
48.6
43.9
50.5
8.7
6.9
7.7
8.1
6.7
6.3
7.0
8.2
5.4
8.0
7.8
6.5
5.8
5.1
-4.1
0
26.6
14.4
23.6
11.7
35.1
14.1
24.7
14.1
25.4
10.0
20.4
11.4
18.6
19.6
21.2
18.8
18.5
19.2
33.4
23.1
28.8
20.8
33.0
23.7
35.7
22.7
31.9
21.9
26.8
20.0
27.4
20.3
22.8
18.1
21.0
25.7
16.9
18.2
16.3
II
III
IV r
202.0
214.6
204.2
208.4
210.8
213.0
216.0
218.6
202.1
.. 172.9
212.8
;. 202.1
213.8
181.4
218.7
220.4
203.9
175.1
214.0
204.5
207.5
177.4
215.9
209.9
209.9
179.0
217.2
213.8
211.6
181.0
216.4
217.6
215.4
182.6
219.7
222.6
218.4
183.0
221.6
227.4
220.9
213.5
237.3
199.8
235.0
230.8
225.7
248.9
212.3
240.4
223.2
215.6
239.4
201.9
237.5
226.8
219.3
243.0
205.6
241.2
229.2
222.0
245.7
208.4
242.7
230.4
225.0
248.6
211.5
240.7
232.6 231.8
227.4 228.7
250.0 251.4
214.5 215.7
240.7 237.7
Net exports of goods and
services
Exports ...
Imports
239.3
319.0
245.7
315.2
241.1
316.3
242.5
314.0
245.6
319.1
246.3
313.6
245.2
313.6
245.5
314.3
212.2
214.7
219.7
201.7
210.6
226.2
230.2
236.5
214.0
223.5
213.6
214.5
219.6
201.6
212.9
219.3
223.9
230.1
207.9
216.1
222.4
227.1
233.4
211.0
219.2
224.5
228.4
234.6
212.6
221.9
227.2
230.1
236.3
214.2
225.2
230.8
235.0
241.6
218.1
228.0
219.1
214.6
209.0
204.2
213.0
208.4
215.6
210.9
217.3
213.0
220.4
216.1
223.1
218.7
219.2
209.0
213.0
215.6
217.4
220.5
223.2
217.4
210.6
211.7
215.3
217.3
218.4
218.5
362.2
360.4
366.1
361.9
348.9
364.1
373.7
Personal consumption
expenditures
.
Durable goods
Nondurable goods
Services...
Gross private domestic
investment
.
Fixed investment
Nonresidential
Structures
Producers' durable equipment ..
Residential
Change in business inventories
Personal consumption expenditures, food
208.8
Personal consumption expenditures, energy
359.6
Other personal consumption expenditures
185.5
25.9
12.5
19.1
I
Addenda:
Gross domestic purchases1
207.2
Final sales
202.0
Final l sales to domestic purchasers
207.2
193.1
-5.2
IV
Government purchases of
goods and services
...
Federal
National defense
Nondefense
State and local
161.5
4.9
1982
1981
III
Gross national product
190.6
4.1
1982 r
IV
167.8
22.2
145.6
22.8
Domestic industries
Financial
Nonfinancial .
Rest of the world
Corporate
with IVA
Seasonally adjusted
1982
1981
Gross domestic product
202.1
Business ,
, ....... ...... 203.4
Nonfarm
203.3
20.9
199.1
187.6
191.6
194.3
197.3
200.8
204.0
214.7
215.4
204.2
205.7
208.5
209.4
210.9
211.8
213.0
213.8
216.1
216.8
218.7
219.2
Table 7.1 and 7.2:
1. Gross domestic purchases equals GNP less exports plus imports; final sales to domestic
purchasers equals final sales less exports plus imports.
15
SURVEY OF CURRENT BUSINESS
March 1983
Table 7.3.—Implicit Price Deflators for Gross National Product by
Major Type of Product
Table 7.7.—Current-Dollar Cost and Profit Per Unit of Constant-Dollar
Gross Domestic Product of Nonfinancial Corporate Business
Index numbers, 1972 =100
Dollars
Seasonally adjusted
1981
1982 '
III
Gross national product
Final sales
Change in business inventories
Seasonally adjusted
1982
1981
IV
I
II
1981 1982 r
III
IV r
195.51 207.15 197.36 201.55 203.68 205.98 208.51 210.42
195.3
207.5
197.4
201.3
204.0
206.5
208.7
210.8
187.0
193.6
188.9
191.5
191.8
193.5
194.8
194.4
Final sales
Change in business inventories
186.4
194.5
188.8
190.9
192.7
194.6
195.1
195.7
Durable goods
Final sales
Change in business inventories
Nondurable goods
Final sales
Change in business inventories
180.2
179.5
185.4
187.0
183.1
181.8
183.5
183.9
182.0
184.2
185.8
186.5
188.6
188.3
184.9
189.0
192.0
191.5
199.1
199.7
193.2
194.0
197.0
195.8
198.3
198.7
198.8
200.4
199.1
199.7
200.3
200.2
Goods
Services
196.1
212.7
198.2
203.5
207.2
210.3
214.5
241.8
251.6
243.7
249.7
251.8
252.5
251.9
250.4
Addenda:
Gross domestic purchases l
199.3
Final l sales to domestic purchasers
199.2
210.3
200.9
205.0
206.7
208.7
212.0
200.9
204.8
207.0
209.2
212.1
IV
I
II
III
IV r
Current-dollar cost and profit per
unit of constant-dollar gross domestic product *
1.966 2.077 1.987 2.030 2.045 2.064 2.088 2.110
Capital consumption allowances with CCAdj...
Net domestic product
Indirect business tax and nontax liability
plus business transfer payments less
subsidies
Domestic income
..
Compensation of employees
Corporate profits with
IVA and CCAdj
Profits tax liability
Profits after tax with IVA and CCAdj ...
Net interest .
.222 .250 .224 .236 .242 .247 .251 .258
1.743 1.827 1.763 1.795 1.803 1.817 1.837 1.851
.202 .213 .203 .208 .205 .211 .214 .220
1.541 1.614 1.560 1.586 1.598 1.606 1.623 1.631
1.305 1.390 1.315 1.349 1.376 1.388 1.392 1.406
.165
.072
.093
.071
.140
.046
.093
.084
213.7
210.6
III
.171
.074
.097
.074
.159
.063
.096
.078
214.1
.140
.045
.095
.082
.134
.043
.091
.085
.146
.049
.097
.085
.139
.048
.091
.086
218.8
Structures
1982
1981
Table 7.8.—Implicit Price Deflators for Auto Output
Index numbers, 1972 = 100
Seasonally adjusted
1981 1982 r
Table 7.4.—Implicit Price Deflators for Gross National Product by
Sector
III
Auto output
Gross national product
195.51 207.15 197.36 201.55 203.68 205.98 20851 210.42
Gross domestic product
Business
Nonfarm
:....
Nonfarm less housing
Housing
Farm
Statistical discrepancy
195.5
1956
1955
198.0
1748
1974
195.6
207.2 197.4
2066 1976
2071 1977
209.5 200.2
1880 176 5
1886 1958
206.6 197.6
201.6
2014
2020
204.6
180 4
1855
201.4
203.7
2033
2037
206.2
183 5
191 1
203.3
206.0
2055
2058
208.2
1859
197 1
205.5
208.5
2079
2084
2107
189 6
1935
2079
210.4
2094
2107
2129
1930
1749
209.4
Households and institutions
Private households
Nonprofit institutions
2055
2121
2050
2220
2312
2214
2078
2142
2073
2119
2184
211 4
2161
2327
2150
2198
2294
2191
2248
2318
2243
2273
2309
2270
Government
Federal
State and local
1921 2076
1857 2003
1950 2110
1926
1828
1972
1996
1967
2009
2028
1982
2049
2057
1986
2090
2087
1990
2132
2132
2053
2170
193.6
195.4
199.5
201.8
204.3
206.9
209.1
Rest of the world
205.5
Addendum:
Gross domestic business product
less housing
198.0
195.51 20715 19736 201.55 20368 20598 20851 21042
Less: Capital consumption allowances with CCAdj
2121
2205
2144
2185
2189
2201
2216
2213
Equals: Net national product
205.5
195.4
199.5
201.8
204.3
206.9
209.1
193.6
Less:
Indirect business tax and nontax
liability plus business transfer
payments less subsidies plus
current surplus of government
enterprises
1747
1801
1758
178 0
1756
180 4
183 7
1806
1956
2066
1976
2014
2033
2055
2079
2094
Equals: National income
195.9
208.7
197.8
202.2
205.1
207.3
209.8
212.7
Table 7.3:
1. Gross domestic purchases equals GNP less exports plus imports; final sales to domestic purchasers equals final sales less exports plus imports.
Table 7.7:
1. Equals the deflator from 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.
2. Consists of personal consumption expenditures, producers' durable equipment, and government purchases.
IV
I
II
III
IV
166.8 175.3 172.7 169.7 171.0 176.0 178.0 175.2
166.5 175.2 170.1 171.3 172.2 174.3 177.9 176.3
186.8 198.5 185.6 195.0 194.9 196.9 203.0 199.2
170.9 177.8 173.8 175.4 175.5 177.0 179.5 179.0
142.8 140.9 143.3 142.6 140.7 144.4 143.6 135.0
171.4 178.1 174.0 175.6 175.8 177.2 179.8 179.2
172.8 181.0 174.9 180.2 178.8 180.0 182.8 182.2
232.1 229.8 232.9 234.6 232.9 227.5 226.9 232.9
144.1 144.2 146.6 143.2 143.0 144.6 146.2 142.9
171.3 178.0 173.9 175.7 175.2 177.2 180.2 178.4
171.1 177.9 173.8 175.5 175.6 177.1 179.5 179.1
Table 7.9.—Implicit Price Deflators for Truck Output
Final sales
Personal consumption expenditures
Producers' durable equipment
Net exports
Exports
Imports.....
Government purchases
Change in business inventories
2086 213.8 211.3 215.3 211.5 210.9 217.0 216.7
209.4 214.0 211.2 217.8 211.7 212.1 216.2 216.3
171.2 177.7 173.8 175.4 175.6 177.0 179.6 179.1
221.7 236.0 224.8 231.4 231.1 234.0 240.0 240.7
2197 2357 2242 2289 231 1 2334 239.9 2407
195.5 210.3 201.6 201.6 201.9 210.4 215.8 214.3
221.8 236.6 224.7 231.4 231.0 234.0 240.0 240.7
Table 7.11.—Implicit Price Deflators for Personal Consumption
Expenditures by Major Type of Product
Personal consumption expenditures
Statistical discrepancy
Table 7.9:
1. Includes new trucks only.
Addenda:
Domestic output of new autos 1
Sales of imported new autos 2
Truck output 1
Table 7.5.—Implicit Price Deflators for the Relation of Gross National
Product, Net National Product, and National Income
Gross national product
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
Change in business inventories
1982
1981
194.5 206.0 196.4 199.8 202.2 204.0 207.7 210.0
167.5
1818
1517
175.6
174.9
1908
1570
182.1
169.7
185.2
1529
176.0
171.3
188.0
1544
179.0
173.0
188.0
155.7
181.2
174.0
189.8
156.8
1807
176.1
193.8
157.4
18? 6
176.3
191.6
158.0
184.0
Nondurable goods
Food
Clothing and shoes
Gasoline and oil
Other nondurable goods
Fuel oil and coal
Other
202.7
2069
138.5
3767
203.8
5716
.. . . 185.4
208.8
215.9
141.0
3534
216.5
5654
200.3
204.2
208.9
139.5
3731
205.5
5746
187.0
205.6
210.1
1397
378.5
208.5
5807
190.7
206.8
213.4
140?
363.9
210.7
568.5
194.6
207.1
215.8
1408
335.9
214.1
544.1
198.5
210.0
217.1
141.7
355.6
218.2
562.4
201.4
211.0
217.3
141.4
359.0
223.0
588.3
206.8
Services
Housing
Household operation
Electricity and gas
Other
Transportation
Other
• ... 196.3
1816
203.2
270.9
160.1
201.9
2058
213.3
1962
225.4
305.1
175.2
216.1
2235
198.6
183.4
207.3
2777
162.4
2040
208.0
203.6
187.8
212.6
28? 9
167.5
2073
213.7
207.4
191.1
219.1
?934
170.3
?,097
217.2
210.6
193.9
221.9
3009
173.4
3137
220.6
215.3
198.1
??76
309,0
1773
?184
225.6
219.7
201.7
?3?9
3173
179.9
???5
230.4
Durable goods
Motor vehicles and parts
Furniture and household equipment
Other
.
16
SURVEY OF CURRENT BUSINESS
Table 7.14B.—Implicit Price Deflators for Government Purchases of
Goods and Services by Type
March 1983
Table 7.17.—Implicit Price Deflators for Merchandise Exports and
Imports by Type of Product and by End-Use Category
Index numbers, 1972=100
Index numbers, 1972=100
Seasonally adjusted at annual rates
Seasonally adjusted at annual rates
1981
1982 r
1981
III
Government purchases of
goods and services
Federal
1981
1982
IV
209.5
215.0
III
I
221.1
223.9
207.4
222.3
221.6
207.8
216.0
218.3
221.6
223.0
223.5
227.2
225.9
488.1
213.4
207.9
205.6
488.8
194.9
219.5
212.6
503.0
207.5
223.0
216.4
479.5
210.8
225.2
225.4
472.2
211.5
226.5
227.0
484.4
213.0
233.6
233.6
514.5
218.1
185.3
184.8
186.0
217.9
221.5
201.7
205.6
196.3
233.7
232.6
181.5
179.3
184.7
220.3
224.2
198.5
203.1
192.0
223.4
227.5
199.6
203.5
194.0
232.7
231.4
200.0
203.6
194.8
231.7
235.4
200.4
203.8
195.5
233.9
233.8
207.0
211.3
200.9
236.1
230.0
Nondefense ..
Durable goods
Nondurable goods
Services
Compensation of
employees
Other services . ...
Structures
204.2
194.0
210.1
211.0
207.4
196.7
209.4
202.9
209.6
206.3
212.6
209.8
214.9
213.7
204.8
214.8
193.3
205.5
193.3
199.5
202.6
203.9
205.4
210.0
186.5
203.4
222.6
197.4
218.1
231.8
185.3
205.1
224.5
193.1
209.0
227.8
195.3
213.4
230.5
196.0
216.7
231.8
196.4
219.9
232.6
201.9
222.5
232.5
208.2
200.5
265.3
183.8
195.0
219.5
230.3
222.7
209.6
271.6
217.9
211.0
239.0
232.5
210.7
202.6
267.7
203.7
197.2
223.9
231.7
214.3
206.0
269.5
207.7
200.9
229.0
232.3
217.5
206.5
270.5
211.6
204.9
232.3
233.6
220.9
208.4
269.6
215.8
209.0
236.9
232.8
224.5
210.9
272.3
220.0
213.2
241.1
232.1
227.8
212.6
273.9
224.0
217.0
245.8
231.3
Table 7.16.—Implicit Price Deflators for Exports and Imports of Goods
and Services
Index numbers, 1972=100
Seasonally adjusted at annual rates
1981
1982 r
1981
IV
I
II
III
IV r
Exports of goods and services
231.8
236.9
232.6
234.5
237.3
236.8
236.9
236.5
Merchandise
Durable goods
Nondurable goods
258.3
259.5
256.6
260.8
276.2
242.7
260.2
264.7
254.0
260.2
267.8
250.7
263.6
274.0
251.4
262.0
276.4
245.5
259.7
276.8
238.9
III
IV
257.3
258.3
260.8
260.2
260.2
263.6
262.0
259.7
Foods feeds and beverages
Industrial supplies and
materials
Durable goods.. .
Nondurable goods
246.9
218.2
239.1
228.0
228.6
223.3
212.2
205.4
293.2
293.2
293.2
284.3
284.3
284.4
294.2
294.2
294.2
292.6
292.5
292.6
291.0
291.0
291.0
287.8
287.8
287.8
280.7
280.8
280.7
277.1
277.2
277.1
Capital goods, except autos
Autos
Consumer goods . ..
Durable goods
Nondurable goods
Other
... .
Durable goods
Nondurable goods
248.4
286.4
200.7
244.1
173.1
258.3
258.3
258.3
270.9
312.0
201.5
251.6
174.1
260.5
260.5
260.5
254.3
294.3
202.1
248.4
172.5
260.0
260.0
260.0
258.6
303.4
204.2
248.3
177.4
260.0
260.0
260.0
266.6
308.7
205.6
249.8
179.8
263.4
263.4
263.4
269.7
315.0
202.9
249.3
176.5
262.1
262.3
262.0
271.9
313.6
200.3
254.2
171.8
259.8
259.8
259.8
276.4
310.5
197.0
253.2
168.7
257.1
257.1
257.1
Merchandise imports
329.0
311.8
321.4
314.3
318.1
306.7
312.0
310.6
Foods, feeds, and beverages
Industrial supplies and
materials, excluding
petroleum
Durable goods
Nondurable goods
Petroleum and products
259.3
239.3
254.4
238.2
243.4
239.4
235.2
240.3
296.8 286.9 296.4 293.5 296.1 290.1 282.7 277.9
296.9 288.2 297.0 293.7 296.6 290.4 284.4 279.4
296.7 285.3 295.7 293.2 295.5 289.7 280.9 276.3
1,297.1 1,206.4 1,267.9 1,246.8 1,248.2 1,181.0 1,195.7 1,199.8
Capital goods except autos
Autos
Consumer goods
Durable goods
Nondurable goods
Other
Durable goods
Nondurable goods
191.9
288.0
231.3
208.3
279.3
249.2
249.2
249.2
194.5
312.1
236.3
204.6
303.2
249.7
249.6
249.8
189.3
288.2
231.0
210.5
271.4
248.4
248.2
248.6
185.4
303.3
228.8
209.1
266.9
244.8
244.9
244.6
195.5
311.0
237.4
209.0
303.2
252.5
252.5
252.5
200.0
307.7
239.0
211.5
291.6
252.9
252.8
253.1
191.5
315.5
236.9
204.1
302.2
248.1
247.9
248.3
191.0
314.1
232.1
194.2
316.6
244.9
245.0
244.8
Addenda:
Exports:
Agricultural products
Nonagricultural products
Imports
of nonpetroleum
products
246.3
261.3
218.4
272.4
239.3
265.2
229.1
268.5
227.8
273.7
222.0
274.0
212.8
271.4
208.5
270.5
249.8
250.0
248.6
245.0
253.0
253.1
248.6
245.2
Table 7.21.—Implicit Price Deflators for Inventories and Final Sales of
Business
257.3
278.0
234.0
197.3
193.7
203.8
208.6
205.4
214.1
198.8
195.4
205.0
202.1
199.5
206.6
204.7
201.8
209.5
207.2
204.3
212.5
210.1
206.9
215.7
293.1
284.1
287.7
286.1
286.4
278.8
285.4
286.0
312.0
239.7
444.1
310.6
233.1
448.4
227,5
206.9
251.2
232.3
209.0
255.0
Index numbers, 1972=100
Seasonally adjusted at annual rates
1981
212.7
209.1
218.9
Merchandise
Durable goods
Nondurable goods
329.0
238.4
501.9
311.8
240.4
447.5
321.4
238.4
482.3
314.3
236.4
464.6
318.1
242.9
473.0
306.7
245.5
426.4
Services
Factor income ....
Other ..
217.1
193.6
241.7
226.5
205.4
249.6
217.2
195.4
242.0
221.3
199.5
242.5
222.5
201.8
245.0
224.1
204.2
247.5
II
1982
III
Imports of goods and services
I
226.0
209.0
203.5
486.9
196.5
Services
Factor income
Other
IV
Merchandise exports
207.9
National defense
Durable goods
Nondurable goods
Services
Compensation of
employees
Military
Civilian
Other services. . . .
Structures
State and local
Durable goods
Nondurable goods
Services
Compensation of employees...
Other services
Structures
1982
1981
III
IV
II
217.8
1982 r
1982 r
1982
1981
III
rv
237.1
237.6
237.5
195.3
241.4
227.7
262.0
200.4
242.4
229.0
262.8
193.1
244.0
230.8
264.1
186.1
245.0
231.9
264.6
246.8
232.6
277.7
244.6
231.1
273.8
243.9
231.7
270.6
245.1
233.5
270.6
245.8
234.2
270.7
244.1
229.4
274.2
235.4
230.1
246.5
286,2
225.6
393.0
245.2
231.6
272.6
236.4
232.4
244.9
288.7
227.8
394.1
242.4
231.7
264.3
235.9
232.8
242.4
275.3
225.9
361.1
244.4
233.3
266.2
238.6
234.4
247.1
274.2
227.3
358.4
245.1
235.7
264.1
238.7
236.9
242.4
278.9
229.0
366.9
246.4
236.8
265.0
239.1
237.8
241.5
285.5
230.7
378.5
210.9
208.9
212.6
296.4
212.9
211.3
214.2
301.7
211.5
210.9
211.9
300.9
214.4
213.4
215.3
305.2
216.7
216.5
216.9
311.6
217.4
218.5
216.5
314.2
197.7
201.2
203.7
206.1
208.1
209.9
196.8
199.4
201.1
203.0
203.3
203.6
III
IV
235.1
236.6
235.6
Farm
Nonfarm
Durable goods
Nondurable goods
192.1
241.1
226.1
264.3
189.3
243.3
228.6
265.9
Manufacturing
Durable goods
Nondurable goods
244.4
229.9
276.2
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
Inventories 1..
Final sales 2
Final sales of goods and structures
I
II
17
SURVEY OF CURRENT BUSINESS
March 1983
Table 8.1.—Percent Change From Preceding Period in Gross National Product in Current and Constant Dollars, Implicit Price Deflator, and
Price Indexes
Percent at annual rates
Percent
Percent
Percent at annual rates
Seasonally adjusted
1981 1982 r
III
Gross national product:
Current dollars
1972 dollars
Implicit price deflator
Chain price index
Fixed-weighted price index....
4.1
11.6
1.9 -1.7
9.4
6.0
6.4
9.4
6.2
9.6
I
11.4
3.0 -1.0
2.2 -5.3 -5.1
8.8
4.3
9.0
8.4
5.0
9.2
4.8
8.5
8.9
Nondurable goods:
Current dollars
1972 dollars
Implicit price deflator
Chain price index
Fixed-weighted price index
10.6
1.8
8.6
9.1
11.2
6.9
1.0
5.9
6.0
5.8
3.4
11.3
2.9 -3.3
7.0
8.2
7.2
8.0
7.7
7.6
7.6
2.5
5.0
5.2
7.1
9.4
2.2
7.1
7.5
7.8
....
......
Durable goods:
Current dollars
1972 dollars
Implicit price deflators
Chain price index
Fixed-weighted price index
3.5
-.9
4.4
4.6
4.9
20.2 -17.9
10.7 -20.9
3.8
8.5
7.9
5.6
5.3
8.6
15.1
10.4
4.2
3.8
3.7
9.6
1.8
7.6
8.4
8.7
Services:
Current dollars
1972 dollars
Implicit price deflator
T?' A • vL A • • A
11.7
1.7
9.8
10.1
10.4
Gross private domestic
investment:
Current dollars
1972 dollars ...:
Implicit price deflator
Chain price index
Fixed-weighted price index
3.7
.7
3.0
3.1
2.8
10.6
1.8
8.6
8.8
9.0
II
6.8
2.1
4.6
4.6
4.1
III
5.8
.7
5.0
6.0
5.9
IV
2.6
1.1
3.7
5.1
4.9
6.5
1.5
5.0
4.3
3.7
13.2
1.7
11.2
11.3
11.2
2.9
0
2.8
3.5
3.6
10.3
0
10.3
10.7
11.0
1.4
10
2.4
2.9
2.4
8.1
.6
7.5
7.1
3.2
9.3
4.5
4.5
5.5
5.6
4.9 — 7
2.5 -5^4
2.3
5.0
3.7
3.1
4.5
3.6
20.6
20.2
.3
1.3
.8
6.1
2.5
3.5
3.6
4.8
3.2
2.6
.6
-.4
1.4
11.0
3.0
7.8
7.6
7.6
8.7
2.4
6.2
6.9
7.3
9.2 133 -38.8
6.9 -22.6
365
17.2
15.0
7.3
1.5
5.6
5.9
6.2
11.2
1.7
9.3
9.1
9.4
3.9
1.9
2.0
3.1
3.5
11.0
2.3
8.5
8.6
9.0
9.4 -1.5
3.0
1.7
50 -1.0
7.6
4.0
3.6
8.2
5.0
7.5
8.2
4.5
7.8
Fixed-weighted price index
Nonresidential:
Current dollars
1972 dollars
Implicit price deflator
Chain price index
Fixed-weighted price 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 price index
Residential:
Current dollars
1972 dollars
Implicit price deflator
Chain price index
Fixed-weighted price index
..
12.0
.5
3.5 -3.6
8.1
4.3
8.6
5.7
8.9
5.7
14.3
9.3
4.6
7.3
7.7
17.4
6.3
10.4
9.1
8.2
9.0
2.9
5.9
5.8
4.9
19.1
12.6
5.8
8.6
7.8
8.9 -4.6
2.4 -6.4
6.4
2.0
8.3
5.7
9.4
6.3
11.6
7.8
3.4
6.6
7.5
11.4 -39.1
7.9 -37.3
1.3 -4.6 -2.4 -7.9
50 -6.0 -7.6 -7.2
6.7
1.5
5.6 -.8
7.1
4.9
3.7
3.0
6.7
4.2
2.2
2.8
1.2
1.8
—7
'A
-.3
8.4
35
53 -8.7 -6.6
.6 -5.0 -11.8 -7.6 -6.0
7.8
1.5
7.4 -1.2 -.7
7.3
5.5
5.6
3.8
1.9
7.0
5.1
5.6
2.3
4.3
22.3
5.9
15.5
8.6
6.1
5.3
1.3
4.0
5.2
4.4
6.4
64
47
1.6 -5.2 -4.8
.1
4.7 -1.2
5.5
2.6
1.7
4.8
2.3
2.3
.7 -8.8 -12.4 -10.3 -7.9
17
7 6 17 4 -8.8 -6.5
2.4 -1.3
6.0 -1.7
15
6.6
5.7
5.7
4.6
2.0
7.5
5.5
6.1
5.7
2.3
1.7 -8.3 -27.0 -20.8 -8.4
9.4 -4.9
33.6
-4.8 -10.2 -31.9 -25.3 -10.2
12.9 -5.3
39.3
2.1
6.9
6.0
7.2
2.0 -3.1
.3 -4.1
7.1
2.3
6.3
2.7 -3.1
8.1
.2 -4.8
7.1
6.3
2.3
2.6 -3.4
8.1
.1 -5.0
8.3 -4.5
8.4
18
.8
.4 -6.5 -4.7 -2.4 -12.7
8.8
3.2
2.2
3.0
4.9
9.5
4.7
2.8
2.8
5.1
9.5
2.4
2.7
4.7
5.1
6.7
7.5
-.8
1.2
1.2
-16.7 -22.3
-16.8 -21.6
g
.2
-1.2
.9
-1.7
.4
1982
III
Government purchases of goods and
services:
Current dollars
1972 dollars
Implicit price deflator
IV
I
II
III
IV
10 9
.9
99
9.5
9.£
1972 dollars
inpiiciL price aetiator
,
Fixed-weighted price index
National defense:
1972 dollars
Implicit price deflator
Fixed-weighted price index
Nondefense:
Current dollars..
1972 dollars
Implicit price deflator
,
Fixed-weighted price index
State and local:
Current dollars
12.2
3.6
8.2
7.2
6.5
18.6
7.0
10.8
11.3
11.1
6
2A
2 9 -5.3
5.5
6.2
6.3
5.1
5.8
4.0
13.8
84
5.0
53
4.7
16.3
12.0
3.8
6.8
6.6
16.1
3.7
12.0
10.6
11.4
12.7
5.4
6.9
7.4
7.2
23.5
14.8
7.6
4.8
4.6
40.7 -1.4 -8.3
20.4 -5.5 -13.5
16.8
4.4
6.1
18.3
6.4
3.3
18.6
5.9
2.3
26.3
23.1
2.5
3.3
3.1
34.2
32.8
1.0
8.0
8.7
17.0
4.9
11.5
11.5
11.8
Federal:
8.4
1.4
6.9
7.1
6.6
16.2
6.9
8.7
8.3
7.6
10.8
7.6
3.0
5.4
4.2
36.7 -1.8
10.1
79
24.2
6.5
20.5
7.5
20.6
5.8
15.6
13.0
2.3
3.5
3.0
15.4
2.0
13.1
8.9
9.2
14.3
1.3
12.8
8.8
10.3
5.5
2.5
2.9
5.6
6,1
55.7
31.6
18.3
3.5
5.7
49.0
43.6
3.8
14.0
13.1
26.4
21.4
4.1
3.3
2.0
— 4 -55.7
-.9 -58.1
.5
5.8
4.3
3.3
6.2
3.1
57.3 88.2
50.7 128.1
4.3 -17.5
3.0
5.9
3.1
7.5
7.9
5.8
5.7
— .8 — 1.0 —2.7
8.7
8.7
6.9
8.8
8.7
6.9
8.2
6.1
7.8
6.2
5.0
— .8 — 1.1
7.0
6.2
7.0
6.2
6.2
5.7
6.7
.4
6.3
6.2
5.2
6.5
-.2
6.7
6.6
5.9
Gross domestic purchases:
Current dollars
1972 dollars
Implicit price deflator
Chain price index
Fixed-weighted price index
11.6
4.4
2.6 -1.1
8.8
5.5
9.0
6.0
9.1
5.7
11.1
3.7
7.2
7.7
7.4
3.4 -2.1
4.7 -5.3
8.5
3.5
7.9
5.4
7.8
4.9
6.4
2.5
3.8
4.0
3.2
2.3
9.8
3.1 -1.0
6.5
3.4
6.1
5.0
4.8
5.9
Final sales:
Current dollars
1972 dollars
Implicit price deflator
Chain price index
Fixed-weighted price index
10.4
1.0
9.3
9.4
9.6
5.7
-.5
6.2
6.4
6.2
10.4
5.7
1.0 -2.3
9.3
8.1
9.3
8.5
8.9
8.6
5.6
.2
5.4
5.0
4.8
4.1
2.9
g -1.3
5.0
4.3
4.5
6.0
4.1
6.0
9.8
5.4
4.2
5.1
4.9
10.4
1.6
8.7
9.0
9.2
5.9
.2
5.7
6.1
5.8
10.1
6.1
2.5 -1.6
7.5
7.8
7.8
8.0
7.4
7.9
4.6
.1
4.5
5.4
4.9
3.6
6
4.2
3.9
3.2
6.8
.9
5.8
6.1
6.0
9.5
5.6
3.7
5.0
4.9
11.7
4.3
2.0 -1.6
9.4
6.0
9.4
6.4
9.6
6.2
11.1
2.6
0
2.0 -5.7 -4.1
9.0
8.8
4.3
9.2
8.4
5.0
8.9
8.5
4.8
6.4
1.7
4.6
4.6
4.1
6.3
2.3
1.2 -1.3
5.0
3.7
6.0
5.1
5.9
4.9
11.8
3.6
2.2 -1.9
9.4
5.6
9.4
6.1
9.6
5.9
11.9
2.4
9.3
9.6
9.3
.7 -1.3
67
49
8.0
3.8
4.7
7.6
7.4
4.4
6.4
2.0
4.3
4.3
3.8
6.4
1.2
1.6 -1.8
4.7
3.0
5.9
4.7
5.9
4.3
12.0
2.2
9.6
9.6
9.7
3.6
22
5.9
10.4
2.1 -.4
.3 -6.4 -3.7
10.1
9.1
3.5
4.8
.7
4.1
.4
5.9
.7 -4.1
5.1
4.6
11.2
2.5
7.1
1.1
13.4
4.8
6.7
3.1
8.9
1.3
Implicit price deflator
Chain price index
Fixed-weighted price index
5.5
-.4
6.0
5.9
5.2
.
Final sales to domestic purchasers:
Current dollars
1972 dollars .
Implicit price deflator
Chain price index
Gross domestic product:
Current dollars
1972 dollars
Implicit price deflator
Chain price index
Fixed-weighted price index
Business:
Current dollars
1972 dollars
Implicit price deflator .
Chain price index
Fixed-weighted price index
Nonfarm:
Current dollars
1972 dollars
Implicit price deflator
Chain price index
Fixed-weighted price index
Disposable personal
income:
Current dollars
1972 dollars
.
8.3
3.0
1.2 -1.9
4.9
.3
8.7 -3.2
3.7 17 1
43
2.8 14.8 -24.7
7.2 -.2 11.3
6.0 -17.5
14.5
4.6 254
1.3 -3.1 -14.0 -2.2
.5 -10.2
9.8
.9
4
6.1
8.4
43 -1.1
7 1 -1.8
.4
5.0 -1.2 -8.4 -3.0
6.7 -6.7- 0
.9
NOTE.—The implicit price deflator for GNP is a weighted average of the detailed price indexes
used in the deflation of GNP. In each period, the weights are based on the composition of
constant-dollar output in that period. In other words, the price index for each item (1972=100)
is weighted by the ratio of the quantity of the item valued in 1972 prices to the total output in
1972 prices. Changes in the implicit price deflator reflect both changes in prices and changes in
401-010 0 - 8 3 - 3
1981
Addenda:
17.2 -10.9
8.4 128
Fixed investment:
Current dollars
1972 dollars. .
Implicit price deflator
Imports:
Current dollars
1972 dollars
Implicit price deflator
Chain price index
Fixed-weighted price index
IV
1981 1982
Fixed-weighted price index
Personal consumption expenditures:
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
Seasonally adjusted
1982
1981
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
composition of output. The fixed-weighted price index uses as weights the composition of output
in 1972. Accordingly, comparisons over any time span reflect only changes in prices.
18
SURVEY OF CURRENT BUSINESS
March 1983
Reconciliation and Other Special Tables
Table 1.—Relation of Net Exports of Goods and Services in the National
Income and Products Accounts (NIPA's) to Balance on Goods and
Services in the Balance of Payments Accounts (BPA's)
Table 2.—Real Gross National Product and National Income, Command
Over Goods and Services, and Related Series
[Billions of 1972 dollars]
[Billions of dollars]
Seasonally adjusted at annual rates
Seasonally adjusted at
annual rates
Line
1982
1981
1981
1982
IV
1982
1982
I
II
III
IV
I
1 Exports of goods and services, BPA's. •.
.......... 350.1
2 Less: Gold, BPA's
2.0
3
Capital gains net of losses in direct investment income receipts
...
....
15
4
Statistical differences 1
-1.8
5
Other items
.6
6 Equals: Exports of goods and services, NIPA's
350.8
II
HI
IV
360.1
1.7
364.4
1.4
348.5
2.3
327.4
2.5
GNP
1,502.6 1,476.9 1,490.1 1,470.7 1,478.4 1,481.1 1,477.2
Gross doni6stic purchases
1,460.6 1,445.0 1,453.6 1,433.8 1,442.6 1,453.7 1,449.9
27.2
36.9
35.7
27.5
Net exports of goods and services .
42.0
36.5
31.8
National income .. ..
1,200.8 1,167.8 1,189.2 1,168.5 1,170.1 1,170.4 1,162.3
-2.1
-.6
1.1
359.9
-2.8
6
.5
365.8
-.6
-3.0
.4
349.5
-.6
30
.4
328.1
Command, GNP basis
1,469.5 1,452.2 1,461.8 1,444.7 1,455.1 1,456.1 1,453.1
Gross domestic purchases
1,460.6 1,445.0 1,453.6 1,433.8 1,442.6 1,453.7 1,449.9
Net exports of goods and services 1
8.2
10.9
12.5
2.4
3.2
7.2
8.9
Command, National income basis.... 1,711.2 1,146.0 1,164.0 1,145.4 1,149.5 1,148.2 1,141.0
7 Imports of goods and services BPA's
8 Less: Payments of income on U.S. Government
liabilities.. ,.
......
9
Gold BPA's
10
Capital gains net of losess in direct investment income payments
11
Statistical diffrences l
12
Other items
13 Plus: Gold, NIPA's
14 Equals: Imports of goods and services, NIPA's
350.3
347.7
348.6
362.8
342.1
18.0
3.4
17.9
3.0
17.4
2.6
17.8
3.9
18.8
4.1
0
-1.0
5
-1.1
6
-1.5
2
-.6
1.3
-.6
.3
330.3
.2
328.6
.1
330.9
.6
342.5
.4
319.1
15 Balance on goods and services, BPA's (1—7)...
16 Less1 Gold (2 9+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)
-.2
-1.1
12.3
11
-1.5
-.8
.6
16
.5
1.1
15.7 -14.3 -14.7
11
1 0 -1.0
21
.9
.5
4
-2.4
.4
-1.8
-2.4
.4
18.0
17.9
17.4
17.8
31.3
34.9
6.9
1.9
2.6
2.0
2.7
Addendum:
Terms of trade 2
-1.7
12
-2.7
-2.2
-5.3
49
-5.8
-5.3
-5.1
46
-6.S
-6.2
2.1
2.9
.6
1.5
.7
.3
.1
-.5
-1.1
-.8
28
-2.5
79.1
GNP..
Command GNP basis
National income ...
Command, national income basis
83.4
82.0
82.9
85.0
83.0
82.7
1. Equals current-dollar net exports of goods and services deflated by the implicit price
deflator for imports of goods and services.
2. Equals the ratio of the implicit price deflator for exports of goods and services to the
implicit price deflator for imports of goods and services.
18.8
20.5
Percent change from preceding period
9.1
1. Consists of statistical revisions in the BPA's that have not yet been incorporated in the
NIPA's.
Table 3.—High-Employment Federal Receipts and Expenditures
[Billions of dollars; quarters at seasonally adjusted annual rates]
Year and quarter
Level
Percentage of
potential
GNP
Total
Surplus or deficit(-)
Expenditures
Receipts
Due to
discreDue to
automatic tionary
policy
inflation
effects and other
factors
Change from preceding period
Change from preceding period
Change from preceding period
Level
Percentage of
potential
GNP
Total
Due to
Due to
discreautomatic tionary
inflation
policy
effects and other
factors
Level
Percentage of
potential
GNP
Total
Due to
discreDue to
automatic tionary
policy
inflation
effects and other
factors
1980
1981
1982
576.8
678.5
705.6
20.8
21.8
20.8
71.9
101.7
27.1
58.7
65.2
37.1
13.2
36.5
-10.0
594.0
674.0
735.1
21.5
21.6
21.6
87.1
80.0
61.1
29.7
35.9
24.9
57.4
44.1
36.2
-17.1
4.5
-29.5
-0.6
.1
-.9
-15.2
21.6
34.0
29.0
29.3
12.1
-44.2
-7.6
-46.1
1980: I
II.
HI
IV .. ..
543.0
559.8
586.1
618.4
20.6
20.6
20.9
21.3
18.4
16.8
26.3
32.3
17.2
17.2
16.3
18.1
1.2
.3
10.0
14.2
561.4
580.1
605.3
629.0
21.3
21.3
21.6
21.7
25.0
18.7
25.2
23.7
4.0
3.3
19.1
11.6
21.0
15.3
6.1
12.1
-18.4
-20.3
-19.3
10.6
-.7
-.7
-.7
.4
-6.5
-1.9
1.0
8.7
13.2
13.8
-2.8
6.5
-19.8
-15.6
3.8
2.2
657.9
674.6
690.3
691.1
22.0
22.0
21.9
21.3
39.5
16.7
15.7
.8
20.0
9.9
15.4
16.3
19.5
6.8
.3
-15.5
647.5
652.6
684.4
711.4
21.6
21.3
21.7
21.9
18.5
5.1
31.8
27.0
4.4
.8
19.2
8.7
14.1
4.2
12.6
18.3
10.4
22.0
5.9
20.3
.3
.7
.2
.6
21.0
11.6
-16.1
-26.2
15.6
9.0
-3.8
7.6
5.4
2.6
-12.3
-33.8
692.8
704.0
706.2
719.4
21.0
20.9
20.6
20.6
1.7
11.2
2.2
13.2
5.0
5.6
8.3
5.4
-3.3
5.6
-6.1
7.9
708.4
710.1
739.3
782.5
21.4
21.1
21.5
22.4
-3.0
1.7
29.2
43.2
-1.0
3.0
13.1
3.4
-2.0
1.2
16.1
39.8
-15.6
6.2
-33.1
-63.1
-.5
-.2
-1.0
-1.8
4.7
9.4
-26.9
-30.0
6.0
2.6
-4.7
1.9
1.3
6.9
—22.2
-31.9
1981: I
II....,
HI ..
IV
1982- I
II
Ill
rv
„
By EUGENE P. SESKIN and J. STEVEN LANDEFELD
Plant and Equipment Expenditures, First and
Second Quarters and Second Half of 1983
1982 spending. The year-to-year decline indicated by the latest survey is
only slightly different from that reported in the previous survey because
estimates of 1982 actual spending and
1983 planned spending were both revised down in the latest survey.1
The plans, after adjustment by BEA
for price changes, indicate a decline
in real spending of 3,8 percent in 1983
(table 2). Real spending declined 5.5
percent in 1982. BEA's latest estimates indicate that the price deflator
for capital goods purchases by busi-
1. The results of this quarterly survey may differ
from the results of the annual survey released in January not only because of changes in the company reports, but also because of differences in the bias adjustment procedures. In the annual survey, 1983
spending plans for each major industry were adjusted
for systematic biases when planned spending deviated
from actual spending in the same direction in at least
5 of the last 7 years. When this criterion was met, an
adjustment was derived by taking the median deviation between planned and actual spending for the
-NoNFARM business in the United
States plans to spend $310.9 billion
for new plant and equipment in 1983,
1.7 percent less than in 1982, according to the BEA quarterly survey conducted in late January and February
(tables 1 and 9, and chart 3).
Spending totaled $316.4 billion in
1982, 1.6 percent less than in 1981.
The latest estimate of planned spending for 1983 is $4.8 billion lower than
that reported in the annual survey
conducted in late November and December 1982 and released in January.
That survey showed planned spending
of $315.7 billion for 1983, L3 percent
less than the preliminary estimate of
last 5 years. In the quarterly survey, spending plans
for each major industry were adjusted for systematic
biases for each time period within the year by taking
the median deviation between planned and actual
spending for that period in the preceding 8 years.
Before adjustment, planned spending for 1983 reported in the latest survey was $306.8 billion for total
nonfarm business, $120.5 billion for manufacturing,
and $186.3 billion for nonmanufacturing. The net
effect of the adjustments was to lower manufacturing
$4.60 billion and to raise nonmanufacturing $8.75 billion.
Table 1.—Expenditures for New Plant and Equipment by U.S. Nonfarm Business: Percent Change
From Preceding Year
1981
1982
CHARTS
Changes in Business Investment
1983
Actual Planned l Actual Planned 2 Planned3
.......
8.7
7.3
-1.6
-1.3
-1.7
,
9.5
7.9
-5.6
-2.6
-3.2
5.0
5.3
8.7
7.7
-8.7
-8.1
-3.8
11.3
Total nonfarm business
Manufacturing.........
28.7
-14.9
12.3
22.2
12.7
-1.0
-18.5
-19.1
-17.0
-4.3
10.2
-3.9
-20.2
-26.2
-12.2
-9.7
„...,...,„.....
Durable goods
Primary metals 4.
Blast furnaces, steel works
Nonferrous metals
Fabricated metals....,
Electrical machinery
Machinery, except electrical
Transportation equipment *.
Motor vehicles
Aircraft....
Stone, clay, and glass
Other durables .,
....... ....
,.
....
..„.
„
...
.... ...
....
14.1
....
8.0
28.4
•
•
-
„..,
Mining....
„...,
,
other!!.!!
,
„....,,.,
,
I..!...,!...!!.!
Public utilities
Electric
Gas and other. ..
Trade and services
-
.......
,
11.3
-8.5
-17.7
11.8
14.1
11.2
-3.9
-1.3
......
Nonmanufacturing.......
Transportation
Railroad
Air...
1.3
....
....
Nondurable goods
Food including beverage ......
Textiles..............
..„,..„
Paper..
Chemicals
Petroleum
Rubber
Other nondurables
.2
7.5
.. .. ..
,
,
..,...,
,....
...
24.8
-5.1
, ,...!
. ...
8.3
-.3
-.3
,
,
,.!!..!!!........
1.9
7.4
4.6
..... ...
o q
5.8
, ..
....
...
. .,
,...,„...
1. Plans reported by business in January and February 1982.
2. Plans reported by business in November and December 1982.
3. Plans reported by business in January and February 1983.
4. Includes industries not shown separately.
-21.7
-12.4
2.9
-2.6
1.1 -17.6
-5.9 -21.5
12.9 -6.0
1,3 -17.0
3.4 -10.0
2.2
-.9
2.2
BUSINESS
Trade and Services
Mining
3.3
1.8
-3.9
Electric Utilities
1.6
-4.0
-8.2
-1.7
-8.1
-6.7
-5.6
Communication and
Other
-2.6
-5.8
-14.6
.6 -11.1
13.1
24
-3.9
-2.4
-3.6
-1.3
Nondurable Goods
Manufacturing
-10.8
13.4
-7.9
5.2
.5,
34
0
4.6
80
2!9
7.0
1.1
-.6
-.9
2.5
0
7.1
-1.8
-2.5
9.0
14.6
8.7
12.3
7.2
9.1
20.8
4.7
6.8
2.6
-8.4
-.8
3.3
3.2
-9.1
4.3
-.5
3.5
46
1.0
-.3
1.8
1.6
9.3
3.9
12.3
-1.2
—3.5
5.6
,.
Communication and other.,
18.1
9.7
TOTAL NONFARM
4.8
.7
11.0
11.4
-1.5
56
.5
-1.1
2.0
3.2
-7.9
-4.0
-15.3
-4.8
—2.3
— 9
—7.5
1.0
Durable Goods
Manufacturing
Railroad
Miscellaneous
Transportation
Gas, Water, and
Sanitary Services
Air Transportation
U.S. Department of Commerce, Bureau of Economic Analysis -
-1.7
19
20
ness increased 4.5 percent in 1982,
and will increase 1.7 percent in 1983.
The latest projected increase in 1983
capital goods prices is lower than the
earlier estimate because the latest estimate incorporates the very small increase in capital goods prices in the
fourth quarter of 1982 and because
there are differences in the procedures used for the annual and quarterly surveys.2 (If the previous estimate were used to adjust the latest
survey results, a 5.9-percent decline
in real spending plans would be indicated for 1983.)
Current-dollar spending in the
fourth quarter of 1982 declined 4.1
percent from the third quarter, to an
annual rate of $302.8 billion, following a 2.3-percent decline in the third
quarter; fourth-quarter spending was
3.9 percent lower than planned spending reported 3 months ago. Plans indicate a 0.2-percent decline in the first
quarter of 1983, little change from the
first to the second quarter, and a 5.5percent increase from the first to the
second half of 1983.
In real terms, spending fell 4.2 percent in the fourth quarter of 1982, following a 2.2-percent decline in the
third quarter. Estimates indicate declines of 0.7 percent in each of the
first two quarters of 1983, and a 4.6percent increase from the first to the
second half of 1983.
Other highlights of the survey are:
• Manufacturers expect their sales
to increase 9,7 percent in 1983, compared with a decline of 5.4 percent in
1982. In nonmanufacturing, trade
firms expect an 8.3-percent increase,
compared with a decline of 1.4 percent last year. Public utility firms
expect a 14.6-percent increase, compared with 12.3 percent (table 3).
• The rate of capacity utilization
in manufacturing declined 1 point
2. To estimate real spending, the figures reported by
survey respondents are adjusted using implicit price
deflators for each industry prepared by BEA based on
unpublished data in the national income and product
accounts. The estimates of real planned spending for
1983 derived from the latest survey incorporate deflators extrapolated by BEA using the average rate of
change during the latest four quarters for which they
are available. The estimates of 1983 real spending released in January incorporated deflators extrapolated
by BEA using an estimate of the year-to-year change
in 1982 prices from 1981. For both surveys, the percentage changes in the deflators for 1983 were adjusted by the ratio of the expected 1983 price changes to
the estimated 1982 price changes reported by survey
respondents.
SURVEY OF CURRENT BUSINESS
from September to December 1982, to
68 percent (table 4 and chart 4). The
September-to-December decline continued the downward movement in
the utilization rate that began during
the third quarter of 1981; the December rate is 10 points below the rate in
June 1981.
• The value of new investment
projects started by manufacturers declined by $2.2 billion—or 8.7 percent—to $23.4 billion in the fourth
quarter; starts by public utilities declined in the fourth quarter to $4.6
Table 2.—Expenditures for New Plant and
Equipment by U.S. Nonfarm Business in
Constant (1972) Dollars: Percent Change
From Preceding Year
1983
1982
1981
March 1983
billion, compared with $10.1 billion in
the third quarter (table 5).
• Current-dollar spending for new
plant declined 5.9 percent in the
fourth quarter; spending for new
equipment declined 2.8 percent (table
6). In real terms, plant spending declined 6.2 percent and equipment, 3.1
percent.
The planned 1.7-percent decline in
1983 current-dollar spending is the
first decline in annual plans reported
in the January-February survey since
1963. Experience since 1970 indicates
that spending plans reported in the
January-February surveys differed
from actual spending by an average of
about 3 percentage points. Plans understated actual spending in 6 of the
13 years and overstated spending in 7
years. The weakness in investment in-
Actual Actual Planned * Planned 2
Total nonfarm
business
0.2
-5.5
1.2
-8.7
Durable goods
Nondurable goods..
-.7
3.5
-10.1
-7.2
-3.5
-7.6
-4.8
-3.7
Nonmanufacturing...
-.4
-3.5
-5.1
-3.6
Mining
Transportation
Public utilities
Trade and
services
Communication
5.6
-14.8
-4.1
-4.9
-2.6
-9.3
-10.6
-4.7
Manufacturing
-7.5
-1.4
-5.2
5.5
3.0
^
2
CHART 4
—3.8
Manufacturers' Capacity Utilization
Rates by Major Industry Groups
-4.3
2.3
20
23
19
86
84
59
1. Based on constant-dollar estimates of current-dollar spending plans reported in November and December 1982.
2. Based on constant-dollar estimates of current-dollar spending plans reported in January and February 1983.
Table 3.—Change in Business Sales: Percent
Change From Preceding Year
1981
1982
Expected ' Actual
60 11
90
1983
Actual
70 ~
Expected
80
Manufacturing
Durable goods 2
Primary metals..
Fabricated
metals
Electrical
machinery
Machinery,
except
electrical
Transportation
equipment
Stone, clay, and
glass....
Nondurable
goods *
Food including
beverage
Textiles
Paper
Chemicals
Petroleum
Rubber
8.2
9.9
-5.4
9.7
9.0
2.9
11.0
10.0
-8.3
-25.1
11.0
5.3
7.6
-7.3
8.4
8.5
9.9
11.9
11.9
-9.5
9.2
14.8
15.4
-5.0
16.1
7.8
9.0
-7.8
9.2
7.5
8.7
-2.6
4.5
9.8
8.5
9.1
8.1
7.9
10.3
-3.0
12.2
.1
.9
-5.1
-1.7
8.6
70
11.7
M itft-'VTiFtilwi 1-f:i:k Mfil'it1 H;t 11 rrl;i'i-'i:l!iN
60
90 F:
8.5
8.2
9.7
—34
10.1
13.4
11.3
-8.3
-8.2
10.3
-4.2
80
117
5.4
Trade. .. .
Wholesale
Retail
10.0
10.8
9.2
8.2
8.9
7.4
Public utilities
16.7
16.4
14
3^8
1.9
8.3
8.2
8.5
12.3
14.6
70
60
1. Expectations for 1982 are based on the survey conducted
in late January and February 1982.
2. Includes industries not shown separately.
A..£j^Ufe*%Kl.feJj>f:I: I' ¥\ f H y I / - I
!!
1972
74
76
78
80
Seasonally Adjusted
U.S. Department of Commerce, Bureau of Economic Analysis
82
21
SURVEY OF CURRENT BUSINESS
March 1983
the second; plans for the second half
indicate an average quarterly inIn manufacturing, current-dollar crease of 4.8 percent.
For the year 1983, manufacturers
spending declined 7.8 percent in the
fourth quarter, to an annual rate of plan to spend $115.9 billion, 3.2 per$110.1 billion, following a 3.5-percent cent less than they spent in 1982;
decline in the third. Durable goods in- their spending declined 5.6 percent in
dustries declined 11.6 percent in the 1982. Durables plan a 3.9-percent defourth quarter and nondurables, 4.4 cline; nondurables plan a 2.4-percent
percent. Manufacturers plan a 2.5- decline. The largest declines are in
percent increase in the first quarter iron and steel, 26.2 percent; nonfer(Text continued on p. 24)
of 1983 and a 1.3-percent decrease in
Manufacturing Programs
dicated by the latest spending plans is
consistent with other indicators of
future investment activity reported in
the BEA survey—capacity utilization,
manufacturing starts, and manufacturers' facility needs. Furthermore,
despite fourth-quarter increases in
capital appropriations in manufacturing and in new orders for nondefense capital goods, these measures
are still well below their peaks
reached in the second quarter of 1981.
Table 4.—Manufacturers' Capacity Utilization Rates: Operating Rates and Ratios of Operating to Preferred Rates 1
[Seasonally adjusted]
Ratios of operating to preferred rates
Operating rates (percent)
June
Sept.
Mar.
Dec.
June
1982
1981
1982
1981
Industry and asset size
Sept.
Dec.
June
Dec.
Sept.
Mar.
Sept.
June
Dec.
78
.
Asset size:
$100 0 million and over
$10 0 to $99 9 million
Under $10 0 million
Durable goods 2
76
72
72
71
69
68
0.84
0.81
0.77
0.78
0.76
0.74
0.72
79
78
75
AH manufacturing
76
77
74
72
74
71
73
74
70
72
72
69
70
70
67
67
70
67
.84
.84
.81
.81
.83
.80
.77
.80
.77
.78
.80
.77
.76
.78
.75
.74
.76
.73
.71
.76
.73
77
74
70
70
68
65
63
.82
.79
.74
.74
.72
.69
.67
Asset size:
$1000 million and over
$10.0 to $99.9 million
Under $10 0 million
79
75
71
75
74
72
70
69
71
71
68
68
69
66
64
66
64
64
64
63
63
.83
.81
.78
.79
.80
.78
.74
.74
.76
.75
.74
.74
.73
.71
.69
.69
.69
.68
.67
.68
.68
Primary metals
Electrical machinery
Machinery, except electrical
Transportation equipment 3
Motor vehicles
Aircraft
Stone, clay, and glass
77
76
90
73
73
75
71
74
76
89
65
60
75
71
63
74
88
60
51
73
66
61
73
85
64
61
71
68
52
72
82
68
67
70
62
48
71
79
62
58
69
64
45
71
76
59
56
67
62
.83
.84
.95
.75
.72
.81
.78
.80
.84
.94
.67
.59
.81
.76
.68
.82
.93
.61
.50
.79
.71
.66
.81
.90
.66
.60
.77
.74
.56
.80
.86
.69
.66
.76
.68
.52
.78
.83
.63
.57
.75
.70
.49
.78
.80
.60
.55
.72
.69
Nondurable goods 4
80
78
75
75
76
74
73
.86
.85
.81
.82
.82
.81
.79
Asset size:
$100 0 million and over
$10.0 to $99.9 million
Under $10 0 million
80
81
78
79
80
75
75
79
70
76
78
71
76
78
75
76
76
70
72
77
71
.87
.87
.84
.85
.86
.82
.82
.85
.78
.83
.84
.80
.82
.84
.81
.82
.82
.78
.78
.82
.78
Food including beverage
Textiles
Paper
Chemicals
Petroleum
Rubber
79
82
89
77
76
77
78
81
85
75
72
72
74
75
83
70
73
66
75
74
83
72
70
72
78
74
81
70
75
76
75
75
81
69
75
70
75
74
79
66
69
73
.86
.85
.92
.85
.80
.82
.85
.84
.88
.83
.77
.76
.83
.78
.86
.78
.78
.70
.85
.77
.91
.80
.73
.77
.85
.77
.84
.77
.79
.81
.83
.78
.84
.77
.78
.75
.82
.78
.82
.73
.72
.78
Primary-processed goods 5
Advanced-processed goods 6
78
78
76
76
71
73
70
73
66
74
66
71
64
69
.83
.84
.81
.82
.76
.78
.75
.79
.71
.79
.70
.76
.69
.74
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, 196573," SURVEY, July 1974, p. 47.
2. Also includes lumber, furniture, fabricated metals, instruments, and miscellaneous.
3. Also includes other transportation equipment.
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 & 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 & weight), leather, and miscellaneous.
Table 5.—Starts and Carryover of Plant and Equipment Projects, Manufacturing and Public Utilities
[Billions of dollars; quarters seasonally adjusted]
Sta rts 1
1Q81
Carry over 2
1981
1Q89
1982
Nondurable goods 3 .
Food including beverage
Paper
Chemicals
Petroleum
Public utilities
IV
I
II
III
IV
Dec.
Mar.
June
Sept.
Dec.
.
... ....
104.78
33.33
33.68
27.73
29.03
25.61
23.37
91.78
93.73
89.37
87.47
83.21
7905
68.89
9.78
1150
15.95
1935
3.22
46.06
18.15
2.46
18.23
2.29
10.95
1.32
12.55
1.56
11.66
10.75
41.34
44.37
40.12
223
228
11.11
1389
1.98
3.04
6.02
3.31
2.32
3.04
318
.34
901
565
632
918
649
875
828
602
774
766
550
739
33.41
322
398
.61
103
183
286
326
55
35.29
359
112
260
274
353
44
37.91
705
534
685
660
473
679
1320
1226
1134
1161
11 18
1097
197
213
179
171
151
146
66.29
58.72
15.19
16.77
16.49
1 62
1.50
13.94
12.62
5044
49.36
49.26
4956
4792
4564
1.65
1.09
407
262
290
7.43
5.82
4.30
6.02
10.09
486
909
546
.94
.90
833
646
228
6.56
1334
27.64
6.12
1263
25.04
1.67
3.70
5.23
15.45
1.40
2.30
3.01
6.25
34.98
15.77
9.29
1.00
152
1.84
3.28
7.82
167
1. Starts are estimated by adding changes in carryover to expenditures during the given period.
2. Carryover refers to expenditures yet to be incurred on plant and equipment projects already underway at the end of the period.
3. Includes industries not shown separately.
Sept.
135.19
Manufacturing
Durable goods 3
Primary metals
Electrical machinery
Machinery, except electrical
Transportation equipment
Stone, clay, and glass .. .
1982
1981
III
559
562
507
628
453
660
425
659
403
670
383
636
4.70
1168
2177
1108
2108
1078
2174
1139
2221
1075
2150
10 60
2001
4.58
134.97
126.04
11170
10737
106.62
10048
171
22
SURVEY OF CURRENT BUSINESS
March 1983
Table 6.—Expenditures for New Plant and for New Equipment by U.S. Nonfarnt Business in Current and Constant Dollars
Billions of dollars 1
Billions of 1972 dollars
Seasonally adjusted at annual rates
1981
1982
1981
III
Total nonfarm business...
Plant ... .
Equipment
.
Manufacturing . . .
Plant
Equipment
.. .
.
.
Seasonally adjusted at annual rates
1982
I
IV
II
1981
III
1982
IV
1982
1981
III
IV
I
II
IIIr
IV
321.49 316.43 328.25 327.83 327.72 323.22 315.79 302.77 159.44 150.70 161.33 158.22 157.49 152.75 149.39 143.18
133.46 134.47 136.40 136.67 139.49 137.95 135.14 127.15 53.81 51.15 54.80 52.80 53.42 52.04 51.17 47.98
188.04 181.96 191.85 191.17 188.23 185.28 180.65 175.61 105.64 99.55 106.52 105.42 104.07 100.71 98.22 95.20
.
126.79 119.68 130.11 126.91 128.32 123.77 119.46 110.09
40.70 39.76 41.75 41.31 42.91 42.05 39.23 36.10
86.09 79.92 88,37 85.60 85.41 81.71 80.22 73.99
.
60.75
15.20
45.55
55.46
13.73
41.72
61.75
15.56
46.19
59.00
14.59
44.41
59.77
15.04
44.73
56.49
14.36
42.13
54.98
13.38
41.60
50.59
12.15
38.44
,.
61.84
16.03
45.82
56.44
14.29
42.16
62.58
15.70
46.88
60.78
15.46
45.32
60.84
16.03
44.81
59.03
15.34
43.69
57.14
14.36
42.77
50.50
12.15
38.34
31.67
6.90
24.77
28.47
5.89
22.58
31.75
6.75
25.00
30.50
6.43
24.06
30.69
6.62
24.07
29.34
6.23
23.11
28.53
5.80
22.73
25.31
4.89
20.42
Nondurable goods
Plant
Equipment
64.95
24.68
40.27
63.23
25.48
37.76
67.53
26.05
41.48
66.14
25.86
40.28
67.48
26.88
40.60
64.74
26.72
38.03
62.32
24.87
37.45
59.59
23.94
35.65
29.08
8.29
20.79
26.99
7.85
19.14
30.00
8.81
21.19
28.51
8.16
20.35
29.08
8.42
20.66
27.15
8.13
19.02
26.45
7.58
18.87
25.27
7.26
18.01
194.70 196.75 198.13 200.92 199.40 199.46 196.33 192.68
92.75 94.71 94.66 95.35 96.58 95.89 95.91 91.06
101.95 102.04 103.48 105.57 102.82 103.56 100.42 101.62
98.69
38.61
60.08
95.24
37.42
57.82
99.58
39.25
60.33
99.22
38.21
61.01
97.72
38.38
59.34
96.26
37.68
58.58
94.40
37.79
56.62
92.59
35.83
56.76
Durable goods
Plant
Equipment
Nonnianufacturing
Plant
Equipment
16.86
10.75
6.11
15.45
9.71
5.75
17.55
10.83
6.72
16.81
10.99
5.82
17.60
11.53
6.08
16.56
10.76
5.80
14.63
8.92
5.71
13.31
7.89
5.43
5.39
2.78
2.61
4.59
2.27
2.32
5.63
2.80
2.83
5.00
2.63
2.36
5.19
2.72
2.47
4.80
2.48
2.32
4.34
2.04
2.31
4.02
1.84
2.18
Transportation
Plant
Equipment
12.05
3.33
8.72
11.95
3.77
8.18
11.61
3.40
8.21
13.12
3.55
9.56
11.99
3.96
8.03
12.32
4.21
8.12
11.28
3.36
7.92
12.41
3.66
8.75
5.59
1.44
4.15
5.36
1.58
3.78
5.36
1.47
3.89
5.91
1.50
4.41
5.38
1.67
3.71
5.49
1.75
3.73
5.09
1.40
3.69
5.48
1.52
3.97
Public utilities
Plant
.
Equipment
38.40
25.23
13.17
41.95
27.08
14.87
39.55
25.84
13.71
39.74
26.45
13.29
40.12
25.80
14.32
41.40
26.64
14.76
43.38
28.50
14.88
42.88
27.37
15.52
17.30
10.67
6.63
17.82
10.71
7.11
17.75
10.89
6.87
17.24
10.75
6.50
17.39
10.36
7.04
17.56
10.54
7.01
18.27
11.20
7.07
18.05
10.75
731
Trade and services .
Plant
Equipment .
86.33
39.43
46.90
86.95
39.57
47.38
87.55
39.92
47.63
88.33
39.52
48.81
87.80
39.98
47.82
88.85
39.85
49.00
87.31
40.43
46.88
84.00
38.05
45.95
47.27
17.69
29.58
46.33
16.98
29.35
47.57
17.87
29.70
47.89
17.27
30.62
47.60
17.44
30.16
47.29
17.11
30.19
46.11
17.27
28.84
44.32
16.11
28.21
41.06
14.02
27.05
40.46
14.59
25.87
41.89
14.67
27.21
42.92
14.84
28.08
41.89
15.32
26.58
40.33
14.44
25.89
39.73
14.70
25.03
40.06
14.09
25.98
23.14
6.03
1711
21.14
5.87
15.27
23.26
6.22
17.04
23.17
6.06
17.12
22.15
6.20
15.95
21.13
5.80
15.33
20.58
5.88
14.70
20.71
5.61
15.10
Mining
Plant
Equipment
...
Communication and other 2
Plant
.
Equipment
.
.
.
.
.
.
'Revised.
1. Seasonal factors are applied to each quarter separately; the average of the seasonally adjusted current-dollar quarterly estimates is not forced to equal the unadjusted annual value.
Table 7.—Petroleum Industry Expenditures for
New Plant and Equipment by Function
Billions of dollars
Actual
Planned
1983 1
1982
1983
1982
26.56
26.69
24.57
0.5
-7.9
14.56
1.04
14.44
.67
14.11
.63
-.8
-35.6
-2.3
-5.7
Refining and
petrochemicals ...
Marketing
5.98
1.01
5.87
.88
4.64
.68
-1.8
-12.7
-21.0
-22.7
Other .
3.98
4.83
4.51
Production
Transportation
21.2
66
1. The reported plans are adjusted for biases; adjustments
are applied separately to expenditures for each function.
Before adjustments, plans for 1983 were $25.69 billion.
Table 8.—Manufacturers' Evaluation of Their Plant and Equipment Facilities 1
[Percent distribution of gross depreciable assets]
19 82
19 81
Percent change
from preceding
year
1981
Total.
2. Includes construction; social services and membership organizations; and forestry, fisheries,
and agricultural services.
Sept. 30
Dec. 31
Mar. 31
June 30
Sept. 30
Dec. 31
More plant and equipment needed:
All manufacturing
Durable goods 2
Primary metals
31.1
27.5
25.3
309
34.7
41.6
40.3
Nondurable goods 2
Food including beverage
Chemicals and petroleum
27.2
22.5
11.2
29.0
32.0
38.3
35.6
25.3
19.8
8.4
25.9
30.6
27.0
38.1
23.3
18.1
3.8
25.6
28.4
19.8
39.6
20.2
17.1
2.4
24.3
23.3
19.8
30.7
20.1
16.7
2.4
23.1
23.4
20.6
31.0
54.1
55.1
48.3
56.8
53.0
510
44.2
.
57.8
55.9
52.3
56.4
59.5
51.5
57.5
54.1
54.2
53.5
54.3
54.1
64.1
47.4
53.5
51.9
56.4
49.4
55.1
72.5
47.3
52.0
45.4
28.2
47.9
58.5
68.0
55.0
51.6
44.9
25.9
48.8
58.3
67.4
51.7
14.8
17.4
26.4
12.3
12.3
7.4
15.5
15.0
21.6
36.5
14.6
8.5
10.2
6.9
20.6
26.0
38.1
19.8
15.3
8.9
14.5
23.2
30.0
39.8
25.0
16.5
7.7
13.1
27.8
37.5
69.4
27.8
18.2
12.2
14.3
28.3
38.4
71.7
28.1
18.3
12.0
17.3
About adequate:
All manufacturing
Durable goods 2
Primary metals3
Metal products
Nondurable goods 2
Food including beverage
Chemicals and petroleum
.. .
Existing plant and equipment exceeds needs:
All manufacturing
Durable goods 2
Primary metals3
Metal products .
Nondurable goods 2
Food including beverage
Chemicals and petroleum
..
1. According to respondent companies' characterization 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.
March 1983
23
SURVEY OF CURRENT BUSINESS
Table 9.—Expenditures for New Plant and Equipment by U.S. Nonfarm Business in Current and Constant Dollars
Billions of dollars; quarters seasonally adjusted at annual rates 1
321.49
316.43
126.79
61.84
8.12
3.17
3.46
2.96
10.31
13.22
18.39
10.08
6.43
3.14
5.69
1983 2
323.22
315.79
302.77
302.25
302.20
318.71
128.32
123.77
119.46
110.09
112.81
111.30
119.34
60.84
8.92
4.13
3.16
3.00
10.79
13.34
16.39
8.64
6.48
2.73
5.67
59.03
8.70
4.13
3.05
2.69
11.22
13.55
14.87
7.49
6.21
2.77
5.22
57.14
6.95
3.39
2.52
2.42
11.03
13.15
15.81
8.04
6.53
2.53
5.25
50.50
5.90
2.63
2.24
2.35
9.73
11.68
13.89
7.64
5.13
2.42
4.54
52.76
6.30
2.69
2.46
2.40
10.45
11.98
14.43
8.69
4.79
2.47
4.73
50.85
5.84
2.57
2.28
2.39
10.24
11.41
13.81
7.46
5.46
2.46
4.70
56.39
5.88
2.52
2.40
2.30
11.46
14.42
14.97
8.08
5.89
2.40
4.97
66.14
7.66
1.53
6.56
14.42
27.81
1.76
6.41
67.48
8.23
1.39
6.05
14.35
28.61
1.80
7.06
64.74
7.59
1.31
6.04
13.83
27.82
1.80
6.35
62.32
7.56
1.18
6.16
13.05
26.13
1.65
6.58
59.59
7.66
1.44
5.71
12.21
24.74
1.59
6.24
60.05
7.62
1.32
5.47
14.08
23.44
1.67
6.44
60.45
7.18
1.16
5.74
13.42
24.57
1.90
6.48
62.94
7.53
1.39
6.51
13.68
25.01
1.89
6.94
198.13
200.92
199,40
199.46
196.33
192.68
189.44
190.90
199.37
17.55
16.81
17.60
16.56
14.63
13.31
14.56
14.62
16.25
11.00
4.21
3.33
3.46
11.61
4.18
3.34
4.09
13.12
4.18
4.82
4.12
11.99
4.56
3.20
4.23
12.32
4.73
3.54
4.06
11.28
3.94
4.11
3.24
12.41
4.31
4.85
3.25
10.95
3.69
3.71
3.56
11.59
4.49
3.64
3.46
10.68
4.30
2.94
3.44
41.95
33.40
8.55
41.00
33.09
7.91
39.55
30.54
9.01
39.74
31.14
8.60
40.12
30.95
9.17
41.40
32.26
9.14
43.38
34.98
8.40
42.88
35.12
7.77
41.00
33.38
7.61
41.37
32.94
8.43
40.85
33.05
7.80
86.33
22.43
34.36
29.54
...
Nondurable goods
Food including beverage.
Textiles........
Paper.
.
Chemicals
Petroleum
Rubber
Other nondurables5 ..
.. .
,
,,.......,,,
,
,
,. .,
. . .
,
..
.
.....
Nonmanufacturing
,
Mining
,
Public utilities
Electric
Gas and other.....
... ........
.
.....
,
,
Trade and services
Wholesale and retail trade.
Finance, insurance, and real estate
Personal, business, and professional services ..
Communication and other
Communication .,
,
Other6.,.
,
.,.,,.........,.
2nd
Half 2
I
86.95
22.19
34.54
30.22
87.78
87.55
22.71
36.11
28.73
88.33
23.70
35.89
28.73
87.80
21.38
35.78
30.63
88.85
22.11
34.73
32.01
87.31
22.40
34.49
30.42
84.00
22.75
33.34
27.91
85.38
85.23
90.02
,.
.. ,
41.06
28.89
12.17
40.46
28.34
12.11
39.78
41.89
29.43
12.45
42.92
29.94
12.97
41.89
29.04
12.85
40.33
28.23
12.10
39.73
27.94
11.79
40.06
28.24
11.82
37.55
38.09
41.58
142.21
141.18
148.16
310.92
328.25
327.83
327.72
119.68
115.90
130.11
126.91
56.44
7.46
3.47
2.71
2.59
10.62
12,89
15.16
7.92
6.04
2.61
5.13
54.22
5.95
2.56
2.38
2.34
10.97
13.12
14.56
8.05
5.55
2.43
4.84
62.58
7.89
3.04
3.49
3.05
11.60
12.82
18.25
10.31
5.99
3.28
5.70
60.78
8.48
3.64
3.13
3.05
9.49
14.34
17.01
9.72
5.58
2.96
5.45
64.95
8.22
1.56
6.72
13.60
26.56
1.77
6.53
63.23
7.74
1.33
5.97
13.27
26.69
1.71
6.52
61.69
7.46
1.31
6.09
13.69
24.57
1.84
6.71
67.53
8.67
1.54
7.01
14.95
26.61
1.80
6.94
196.75
195.02
15.45
15.46
12.05
4.24
3.81
4.00
11.95
4.38
3.93
3.64
38.40
29.74
8.65
..... ...
'Durable goods 3
, ,
Primary metals
... ...
Blast furnaces steel works
Nonferrous metals
Fabricated metals
Electrical machinery
.,
Machinery except electrical
Transportation equipment3
Motor vehicles
,. ...
Aircraft
Stone, clay, and4 glass....
Other durables
II 2
IV
IV
194.70
.....
Manufacturing
2
III
I
III
16.86
Total nonfarnt business
Transportation
Railroad
Air
Other
1982
1983
1982
1981
1981
II
Billions of 1972 dollars; quarters seasonally adjusted at annual rates7
Total nonfarm business ,.
159.44
Nondurable goods
Food including beverage
Textiles
Paper
Chemicals
.....
Petroleum....
Rubber
Other nondurables5
,
,
,
,.
,
,.
,....,..„,
,
Nonmanufacturing. ......
Mining
Transportation
Railroad
Air.
Other
,
..
...„.
Public utilities
Electric
Gas and other...............
....
,
,
.
.,
.
Trade and services..................
Wholesale and retail trade
Finance, insurance, and real estate.,,..
Personal, business, and professional services
Communication and other
Communication
Other6
,...,...,
.
.
.
,
„...,.,....
,.
,.
61.75
59.00
59.77
56.49
54.98
50.59
51.95
50.94
54.75
27.10
31.75
3.68
1.39
1.62
1.50
6.35
6.77
9.01
4.97
3.09
1.54
2.89
30.50
3.90
1.64
1.43
1.50
5.07
7.57
8.30
4.65
2.82
1.38
2.78
30.69
4.11
1.88
1.44
1.47
5.87
7.05
8.07
4.16
3.30
1.26
2.86
29.34
3.92
1.84
1.35
1.30
6.04
7.07
7.18
3.54
3.09
1.25
2.58
28.53
3.12
1.50
1.11
1.17
5.90
6.89
7.66
3.81
3.26
1.15
2.64
25.31
2.65
1.16
1.00
1.14
5.22
6.17
6.78
3.63
2.61
1.11
2.26
, 26.40
25.44
28.28
26.99
3.70
.62
2.90
6.30
9.32
.83
3.32
26.00
30.00
4.24
.73
3.48
7.24
9.85
.89
3.58
28.51
3.69
.72
3.22
6.87
9.89
.86
3.26
29.08
3.97
.65
2.96
6.83
10.18
.88
3.61
27.15
3.60
.60
2.91
6.44
9.54
.86
3.19
26.45
3.59
.55
2.98
6.19
9.03
.80
3.32
25.27
3.65
.67
2.75
5.73
8.52
.77
3.18
25.55
25.49
26.47
95.24
91.83
99.58
99.22
97.72
96.26
94.40
92.59
90.26
90.24
93.42
4.59
4.70
5.63
5.00
5.19
4.80
4.34
4.02
4.41
4.45
4.97
5.59
,.
......
53.09
28.47
3.45
1.60
1.23
1.27
5.76
6.79
7.42
3.79
3.06
1.19
2.59
29.08
4.06
.75
3.37
6.65
9.98
.88
3.39
,
161.33
5.39
Durable goods 3
Primary metals . .. ., .
Blast furnaces, steel works
Nonferrous metals..,.
Fabricated metals
Electrical machinery ...
Machinery, except electrical
Transportation equipment3
Motor vehicles
Aircraft
Stone, clay, and glass......
Other durables4 . ...
144.93
55.46
31.67
3.81
1.44
1.63
1.48
5.71
7.04
9.22
4.93
3.35
1.50
2.91
,
150.70
60.75
98.69
Manufacturing
5.36
4.79
5.36
5.91
5.38
5.49
5,09
5.48
4.82
5.07
4.64
17.30
17.82
16.98
17.75
17.24
17.39
17.56
18.27
18.05
17.14
17.19
16.80
47.27
11.64
19.48
16.15
46.33
11.18
19.09
16.06
45.46
47.57
11.70
20.32
15.56
47.89
12.19
20.17
15.53
47.60
10.91
20.05
16.63
47.29
11.14
19.21
16.94
46.11
11.27
18.90
15.94
44.32
11.41
18.19
14.72
44.73
44.33
46.38
23.14
17.70
5.44
21.14
15.89
5.25
19.90
23.26
17.73
5.53
23.17
17.53
5.65
22.15
16.57
5.58
21.13
15.90
5.22
20.58
15.47
5.11
20.71
15.61
5.10
19.16
19.20
20.62
1. Seasonal factors are applied to each quarter separately; the average of the seasonally adjusted current-dollar quarterly estimates is not forced to equal the unadjusted annual value.
2. Estimates are based on planned capital expenditures reported by business in late January
and February 1983. The planned expenditures are adjusted for systematic biases in reporting.
The adjustment procedures are described in the October 1980 SURVEY. Before adjustment, plans
for 1983 were $306.78 billion for total nonfarm business, $120.51 billion for manufacturing, and
$186.27 billion for nonmanufacturing.
3. Includes industries not shown separately.
158.22
157.49
152.75
149.39
143.18
4. Consists of lumber, furniture, instruments, and miscellaneous.
5. Consists of apparel, tobacco, leather, and printing-publishing.
6. Consists of construction; social services and membership organizations; and forestry, fisheries, and agricultural services.
7. Procedures for preparing constant-dollar estimates are described in the September 1981
SURVEY. Constant-dollar estimates for the third quarter have been revised to reflect new price
deflators based on revisions in the national income and product account data. To estimate real
spending plans, BEA adjusts the survey results for assumed price changes.
24
rous metals, 12.2 percent; fabricated
metals, 9.7 percent; aircraft, 8.1 percent; and petroleum, 7.9 percent. The
decline in petroleum spending is principally in refining and marketing activities (table 7). A sizable increase,
8.0 percent, is planned by rubber.
Real spending for the year 1983 is
estimated to decline 4.3 percent from
1982, with declines of 4.8 percent in
durables and 3.7 percent in nondurables. In 1982, durables declined 10.1
percent and nondurables, 7.2 percent.
Manufacturers started new investment projects during the fourth quarter of 1982 totaling $23.4 billion—8.7
percent less than in the third quarter.
Sizable declines in paper, electrical
machinery,
petroleum,
primary
metals, and transportation more than
offset increases in chemicals, nonelectrical machinery, and food-beverage.
The value of new projects started
by manufacturers in the fourth quarter was less than their capital expenditures, resulting in a decline in carryover—the amount still to be spent
on plant and equipment projects underway. Carryover totaled $79.1 billion at the end of December, $4.2 billion less than at the end of September. Durable goods carryover declined
$1.9 billion, and nondurables, $2.3 billion.
Capacity utilization
The 1-point decline in the manufacturing utilization rate, from 69 percent in September to 68 percent in
December, was widespread. Durables
declined 2 points, to 63 percent, and
nondurables declined 1 point, to 73
percent. Among major industry
groups, petroleum reported the larg-
SURVEY OF CURRENT BUSINESS
est decline, 6 points, to 69 percent.
Primary metals, nonelectrical machinery, and chemicals each declined
3 points, to 45, 76, and 66 percent, respectively. Motor vehicles, aircraft,
stone-clay-glass, and paper reported 2point declines, to 56, 67, 62, and 79
percent, respectively. Rubber increased 3 points, to 73 percent. Other
major industries reported little or no
change from their September rates.
The utilization rates for primaryand advanced-processed goods industries each declined 2 points, to 64 and
69 percent, respectively.
The rate reported by large-sized
firms for December declined 3 points,
to 67 percent. The rates for mediumand small-sized firms were unchanged
at 70 and 67 percent, respectively.
Manufacturers also evaluated the
adequacy of their facilities in light of
their current and prospective sales for
the next 12 months and reported
little change (table 8). Companies
owning 20 percent of fixed assets reported a need for more facilities as of
the end of December, the same proportion as at the end of September.
Companies owning 51% percent of
fixed assets reported that facilities
were about adequate, a decline of onehalf of 1 percentage point from September; the proportion of companies
owning facilities that exceeded needs
increased slightly, to 28 percent.
March 1983
percent decline in the third. Mining,
gas utilities, and services reported the
largest fourth-quarter declines, while
air transportation and railroads reported sizable increases. Nonmanufacturing firms expect a 1.7-percent decline in spending in the first quarter
of 1983 and a 0.8-percent increase in
the second. Plans for the second half
imply an average quarterly increase
of about 3.5 percent.
For 1983, nonmanufacturing industries plan to spend $195.0 billion, 0.9
percent less than they spent in 1982;
their spending increased 1.1 percent
in 1982. The largest declines for 1983
are planned in air transportation,
15.3 percent; gas utilities, 7.5 percent;
"other transportation," 4.8 percent;
and railroads, 4.0 percent. Smaller declines are planned in "communication
and other" and electric utilities.
Mining plans spending at about the
same level as last year and trade and
services plans a 1.0-percent increase.
Real spending for year 1983 is estimated to decline 3.6 percent from
1982. The largest decline is in transportation, 10.6 percent. Smaller declines are estimated in "communication and other," public utilities, and
trade and services. Because of a projected decline in the implicit price deflator for mining, a small increase in
real spending is estimated.
Starts of new investment projects
by public utilities totaled $4.6 billion
in the fourth quarter, compared with
$10.1 billion in the third quarter. CarNonmanufacturing Programs
ryover of utility projects totaled
$100.5 billion at the end of December,
In nonmanufacturing, current- $6.1 billion less than at the end of
dollar spending declined 1.9 percent September; the decline partly reflects
in the fourth quarter, to an annual the cancellation of several large projrate of $192.7 billion, following a 1.6- ects.
By RALPH KOZLOW
Capital Expenditures by Majority-Owned Foreign
Affiliates of U.S. Companies, 1983
MAJORITY-OWNED foreign affiliates of U.S. companies plan capital
expenditures of $41.8 billion in 1983,
almost unchanged from 1982. Last
year, spending declined 5 percent, following a 3-percent increase in 1981
(table 1 and chart 5).1
Largely as a result of depressed economic conditions worldwide, corporate
illiquidity, and high interest rates,
spending appears to have leveled off
in 1981-83, after record increases in
1979 and 1980. The increases in 1979
and 1980 were largely attributable to
manufacturing affiliates, particularly
transportation equipment manufacturers that were constructing new
facilities (see later discussion). In
1980, spending was also boosted by petroleum affiliates, partly because of
expectations of continued high returns on investment following the
near-doubling of crude oil prices in
1979.
The latest estimate for 1982, based
on the BE A survey taken in December 1982, is much lower than the estimate based on the survey taken 6
months earlier, which indicated expenditures would increase 6 percent.
The latest estimate for 1983 is also
NOTE.—Patricia E. DiVenuti and Edward L.
Simons assisted in preparing the estimates.
Smith W. Allnutt III designed the computer
programs for data retrieval and analysis.
1. Capital expenditure estimates are for majorityowned nonbank foreign affiliates of nonbank U.S. parents. (An affiliate is majority owned when the combined ownership of all U.S. parents exceeds 50 percent.) 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 these adjustments
are unavailable.
lower than the earlier one; the yearto-year percentage change is the
same, however, because it is calculated from the lower 1982 base.
By area, affiliates in developed
countries plan a 1-percent increase in
spending, to $29.1 billion, compared
with an 8-percent decline in 1982. In
developing countries, a planned 4-percent increase, to $11.8 billion, follows
a 2-percent increase. Affiliates in "international"—those that have operations spanning more than one country and that are engaged in petroleum shipping, other water transportation, petroleum trading, or operating oil and gas drilling equipment
that is moved from country to country during the year—plan to cut
spending nearly two-fifths, to $0.9 billion, after an 8-percent increase.
Petroleum
This year's 3-percent reduction, to
$17.2 billion, in planned spending by
petroleum affiliates reflects the
worldwide weakening of petroleum
markets, which has partly resulted
from depressed economic conditions
and continued energy conservation
and substitution. Also, some U.S. petroleum companies may be shifting
some spending from abroad to the
United States, partly in response to
decontrol of domestic oil prices and
the granting of exploration and production rights in previously restricted
areas.
In each successive survey of 1982 or
1983 spending plans, estimates have
been revised downward (table 2). For
a given year, four estimates of
planned expenditures and one estimate of actual expenditures are
made, based on data reported in five
successive semiannual surveys. The
ggiaaa^^
CHARTS
Capital Expenditures by
Majority-Owned Foreign Affiliates
of U.S. Companies
Billion $ (Ratio scale)
60
50
BY INDUSTRY
40
30
20
10
{petroleum
^Canada /"""*.<•.' '*•**.' -V / ; ' '. '**-*L
8
„
6
•OtHer
Developing f
'Countries
5
4^
Trade
ta|in
International,
Finance-(Except Banking);
Insurance, and Beal Estate
I
1977
79
81
r. t j r t
I I
83
1977
7.9
81
83
• Planned
Note.— Estimates are for nonbank foreign affiliates of nonbank
U. S. parents.
U.S. Department of Commerce, Bureau of Economic Analysis
83-3-5
25
26
SURVEY OF CURRENT BUSINESS
March 1983
Table 1.—Capital Expenditures by Majority-Owned Foreign Affiliates of U.S. Companies, 1977-83
Percent change from preceding year
Latest plans l
Actual expenditures
1978
Total
By industry
Alining
Petroleum
Manufacturing
Food and kindred products
Chemicals and allied products
Primary and fabricated metals. .. ..
Machinery, except electrical
Electric and electronic equipment
Transportation equipment
Other manufacturing
Trade
Finance (except banking), insurance, and real
estate
Other industries
.
By area
Developed countries
Canada
Europe
European Communities (9)3
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
Addenda* European5 Communities (10)4
OPEC
1979
1980
1981
2
1982
Billions of dollars
Earlier plans 2
1983
1982
1977
1983
1978
1979
1980
1981
2
1982
1983
Earlier plans 2
1982
1983
9
25
30
3
-5
(*)
6
(*)
24.1
26.1
32.6
42.4
43.7
41.6
41.8
46.4
46.6
-14
7
14
17
-8
7
22
23
18
16
9
51
16
29
25
38
11
31
26
54
3
37
89
34
27
28
14
37
18
24
49
29
25
2
7
2
-7
(*)
9
-9
10
18
-12
13
-41
13
13
-6
-3
7
-19
(*)
-27
-4
16
38
-3
3
15
4
16
7
7
-10
6
11
-26
21
(*)
7
9
37
-1
8
22
13
—2
-9
3
2
1
3
9
10
6
14
6
7
.5
8.9
10.5
.8
2.0
.5
3.0
.7
1.6
1.8
2.1
.4
9.5
12.0
.9
1.9
.6
3.6
.9
1.9
2.1
2.2
.7
11.0
15.4
1.2
2.6
.6
4.7
1.1
2.9
2.2
3.1
1.3
14.8
19.5
1.5
3.0
.9
5.6
1.4
4.4
2.8
3.8
1.3
15.8
19.2
1.4
3.0
.8
5.1
1.2
5.2
2.5
4.3
.8
17.7
16.6
1.3
2.9
.9
4.2
1.2
3.8
2.4
3.6
.5
17.2
17.2
1.5
3.0
1.0
4.4
1.3
3.4
2.5
4.0
1.0
19.1
19.1
1.5
3.2
1.1
5.1
1.3
4.1
2.8
4.2
.9
18.6
19.5
1.5
3.3
1.2
5.6
1.4
3.5
3.0
4.5
-10
-6
49
22
7
28
12
.5
-12
10
-12
3
-17
7
2
3
.2
1.9
.2
1.8
.3
2.1
.3
2.7
.4
2.9
.3
2.6
.3
2.7
.3
2.7
.3
2.8
10
1
13
13
1
34
20
-7
9
32
20
16
17
14
-10
56
38
25
20
30
28
26
28
27
31
42
15
7
20
27
12
27
52
51
29
29
27
27
23
17
33
28
26
42
40
38
42
44
10
47
22
2
-2
-4
9
-13
-15
6
-8
30
-11
22
23
24
25
-24
33
8
31.9
8.3
20.8
17.8
2.2
3.9
8.0
3.7
3.0
.9
1.8
9.0
4.6
1.3
.7
2.5
1.5
6
2
7
-1
'(*)'
9
8
5
(*)
-8
11
3
1
-6
(*)
-27
12
16
(*)
6
24.8
6.5
16.4
14.0
1.8
3.4
6.0
2.9
2.4
.6
1.3
6.6
3.2
.9
.8
1.7
1.2
13
4
2
4
4
(*)
1
4
13
1
22
10
12
7
19
25
16
3
4
30
19.8
5.4
12.6
10.9
1.4
2.6
4.7
2.2
1.7
.6
1.2
5.5
2.5
.8
1.1
1.1
.8
-2
1
1
3
6
29
7
2
12
-11
-10
-9
4
-1
-9
-6
21
39
6
8
18.0
5.4
11.2
9.6
1.4
2.0
3.9
2.4
1.5
.4
1,0
4.8
2.2
.7
1.2
.7
1.3
10
8
-10
-8
9
-20
-9
7
-6
6
7
(*)
2
-8
17
26
7
8
-9
30
1.7
1.9
1.9
2.1
31.3
8.1
20.1
16.2
1.9
3.4
7.5
3.4
3.9
.8
2.2
11.1
5.7
1.6
.5
3.3
1.4
16,2
2.2
28.8
7.3
18.4
14.7
1.5
3.0
6.9
3.2
3.7
.9
2.2
11.3
5.2
1.9
.7
3.5
1.5
14.8
2.9
29.1
7.4
18.9
15.6
2.0
3.3
6.8
3.6
3.3
.8
2.0
11.8
5.2
1.7
.6
4.2
.9
15.6
3.2
32.6
8.3
20.8
16.9
1.9
3.4
7.7
3.8
4.0
1.0
2.5
12.5
6.1
1.9
.7
3.8
1.3
16.9
2.9
33.1
8.9
20.6
v
16.9
2.1
3.7
7.3
3.8
3.6
1.1
2.5
12.4
5.7
1.9
.5
4.3
1.1
17.0
3.1
*Less than 0.5 percent (±).
1. Based on the BEA survey taken in December 1982.
2. Based on the BEA survey taken in June 1982.
3. European Communities (9) consists of Belgium, Denmark, France Germany, Ireland, Italy,
Luxembourg, Netherlands, and the United Kingdom.
4. European Communities (10) consists of European Communities (9) and Gr<
5. OPEC consists of Algeria, Ecuador, Gabon, Indonesia, Iran, Iraq, Kuwait/Libya, Nigeria,
Qatar, Saudi Arabia, Venezuela, and the United Arab Emirates.
NOTE.—Estimates are for nonbank foreign affiliates of nonbank U.S. parents.
first estimate of 1982 spending, based that is, for the systematic overpredicton the June 1981 survey, was $53.3 ing or underpredicting of actual exbillion; the current—fourth—esti- penditures by reporters. Although hismate, based on the December 1982 torical data suggest that respondents
survey, is $41.6 billion. The first esti- tend to overestimate a given year's
mate of 1983 spending was $46.6 bil- spending in the early surveys relative
lion; the current—second—estimate is to actual spending for the year, such
$41.8 billion.
bias cannot be separated from
The downward revisions in 1982 changes due to other causes, particuand 1983 planned expenditures have larly changing economic and political
paralleled the worsening of economic conditions.2 The reductions in 1982
conditions. Although, for both years, spending in the successive surveys far
estimates for every major industry exceeds what could be attributed to
were revised downward, about one- bias alone.
Manufacturing affiliates plan to inhalf of the total revision from the
first to the most recent estimate for crease spending 3 percent this year,
each year was in petroleum and non- to $17.2 billion, after a 13-percent deelectrical machinery manufacturing cline last year. These changes are
combined. In petroleum, a sizable largely offset by spending of petroshare of the revision was in projects leum affiliates; petroleum affiliates
to develop alternative energy sources, plan to reduce spending 3 percent this
especially coal; the cutback in spend- year, to $17.2 billion, following a 13ing on these projects has coincided percent increase last year. Affiliates
with a s^arp decline in petroleum af- in all other industries combined plan
filiate earnings, which, in turn, partly to increase spending 2 percent, after
reflects the current world oil glut. In an 18-percent decline.
nonelectrical machinery manufacturing, most of the revision was centered
2. The discontinuation of the bias adjustment is discussed in Jeffrey H. Lowe, "Capital Expenditures by
in computers.
Foreign Affiliates of U.S. Companies,
The estimates of planned spending Majority-Owned SURVEY OF CURRENT BUSINESS 61 (Oc1981 and 1982,"
are not adjusted for reporting bias- tober 1981): 67-68.
Latest plans 1
Actual expenditures
Table 2.—Revisions to Capital Expenditure
Estimates, 1982-83
[Millions of dollars]
Expenditure
estimates for:
Percent
Percent
198283
1982
1983
198182
53295
50,662
46,378
41,636
n.a.
n.a.
46,570
41,812
+6.4
+ 11.4
+6.0
-4.8
-21.9
-10.2
Date of BEA survey: l
June 1981
December 1981.
June 1982
December 1982
n.a.
n.a.
(*)
(*)
Addendum:
Total percent change
from first to most
recent estimate
*Less than 0.5 percent (±).
n.a. Not applicable.
1. Results of the June 1981, December 1981, and June 1982
surveys were published in the October 1981, March 1982, and
September 1982 issues of the SURVEY OF CURRENT BUSINESS,
respectively. Results of the December 1982 survey are presented in this article.
In developed countries, affiliates
plan to reduce spending 2 percent, to
$10.5 billion, following a 9-percent increase in 1982 (tables 3-5). A 2-percent decline, to $3.2 billion, is planned
in Canada, largely as a result of an
affiliate's withdrawal, in mid-1982,
from participation in an oil sands
project. A 20-percent increase last
(Text continued on p. 30)
March 1983
27
SURVEY OF CURRENT BUSINESS
Table 3.—Capital Expenditures by Majority-Owned Foreign Affiliates of U.S. Companies in 1981 l
[Millions of dollars]
Manufacturing
All
industries
Electric
MaTransand
chinery,
portation
elecexcept
equiptronic
electriment
equipcal
ment
Other
manufacturing
Trade
Other
industries
»
15,761
19,164
1,407
2,968
804
5,106
1,210
5,177
2,492
4,291
375
2,867
970
9,844
15,425
890
2,304
588
4,638
800
4,229
1,977
3,293
286
1,462
420
2,700
3,800
200
655
201
649
159
1,211
725
450
95
680
5
6,596
10,273
598
1,475
351
3,423
567
2,715
1,144
2,319
166
724
84
O
O
1
2
1
9
O
655
17
6
(D)
80
O
16,208
596
246
1,922
3,356
48
312
1,114
21
1,115
7,477
. ..
,
1,290
,
„ ............
. .,
4
O
0
0
1
1
1
0
0
0
1
1
0
1
D
D
5,264
74
103
(D)
370
6
(D)
147
1
258
4,100
8,686
357
19
1,316
2,653
23
229
797
19
683
2,591
556
8
12
50
95
4
15
48
0
102
223
1,327
110
1
165
243
14
49
105
5
215
419
337
7
1
27
122
(')
2
19
0
27
132
3,296
38
O
821
959
O
(D)
(D)
3
245
735
496
36
(D)
55
139
1
54
39
(D)
13
150
()
115
1
53
835
1
(D)
55
0
3
D
()
()
43
(D)
145
261
2
(D)
D
(D)
()
78
(°)
1,514
148
118
310
250
18
27
139
O
115
390
1,587
360
35
40
948
143
57
2
2
42
3
0
2
32
2
3
O
0
148
2
2
5
105
25
8
1
O
14
3
O
1
6
2
1
0
128
3
(')
2
D
(D)
(D)
()
0
0
70
(D)
(D)
O
O
(D)
(D)
4
23
(D)
2
O
0
0
()
6
D
(D)
(D)
()
O
2
805
80
69
40
252
80
195
14
76
(D)
48
(D)
12
96
9
2
(D)
(D)
1
19
26
18
2
6
(D)
(D)
(D)
26
96
55
10
31
428
250
35
143
15
15
O
o
1
70
(D)
31
(")
60
325
3,876
468
1,326
93
1,248
255
370
18
99
0
34
666
(D)
70
545
520
(*)
25
515
440
21
54
685
512
27
147
(D)
50
(D)
30
104
77
4
23
(*)
56
45
6
5
320
5,017
3,739
517
664
216
469
410
948
515
998
89
954
5,680
273
1,158
3,114
411
542
191
422
186
929
433
716
67
352
3,946
635
1,640
287
345
62
455
377
145
233
5
2
(D)
3
0
(D)
0
(D)
991
130
86
34
235
25
345
66
70
2,124
434
1,325
12
61
21
9
197
65
250
57
108
1
10
3
2
42
27
430
80
247
5
32
5
2
58
(*)
140
(D)
88
2
3
1
3
7
398
142
250
0
(D)
0
O
(D)
(D)
77
4
60
O
1
2
1
9
O
549
(D)
385
O
5
0
O
(D)
1
280
(D)
188
4
(D)
9
2
28
(D)
470
57
175
43
40
17
(D)
93
(D)
29
O
(D)
(D)
1
0
(D)
1
O
99
9
D
(D)
()
6
O
(D)
20
1
1,433
1,198
74
160
18
3
0
15
40
12
3
25
964
913
5
45
150
123
2
25
109
100
2
8
51
50
0
1
24
24
0
0
105
103
O
2
380
379
0
O
145
135
1
9
235
212
7
16
25
3
22
1
150
55
37
58
300
48
(D)
20
115
(D)
.
O
(D)
(D)
(")
0
12
11,118
.
0
2,245
1,782
88
374
..,
0
0
0
0
806
,....„...,
.....
1,331
22
1,207
(D)
28
28
(D)
1
20
21
1
0
(*)
0
20
127
8
(*)
D
(D)
()
7
26
2
(*)
(*)
6
17
11
1
0
(*)
(*)
10
3
1
0
(*)
1
1
1
0
0
0
0
0
0
0
0
3
0
0
0
(*)
3
0
0
0
0
0
0
7
0
(*)
0
5
2
10
O
(*)
2
5
3
13
2
1
(*)•
(D)
P)
103
35
(D)
(D)
2
<")
()
(*)
0
(*)
'(*)
0
(*)
(°)
0
(*))
(D
0
0
0
0
0
(D)
(*)
0
0
(')
(D)
0
(*)
(*)
(*)
0
0
24
6
3
1
3
18
5
8
5
4
0
0
0
0
4
2
(*)
1
21
9
8
0
1
12
(D)
2
(D)
Japan
Australia, New Zealand, and South Africa
Australia. ...
New Zealand
South Africa
..,„...„...,
Developing countries....
Latin America......
,
South America.,.. .,
Argentina....
Brazil
Chile
Colombia
.-.. ...
Ecuador .
.,
Peru
..
Venezuela
..
Other
. . .
.
. .
Central America....
,.
Mexico
..,.„„.,
Panama
....,...,.
Other
,.
,
...,...., ,
,
...
,
Other Western Hemisphere....
Bahamas
Bermuda
Netherlands Antilles
Trinidad and Tobago
Other..
.
26
4
4
0
0
23
(D)
(*)
(D)
1,483
538
318
150
70
945
(*)
245
700
55
4
1
(*)
3
51
1
7
43
21
(*)
0
0
(*)
21
1
1
19
530
83
409
38
. .. .
1
0
1
0
350
6
313
32
29
18
11
(*)
5
4
1
(*)
3,295
539
17
1,060
457
298
421
116
150
202
36
19
0
0
19
(*)
0
0
0
0
1
0
2,026
(D)
0
1,010
D
542
26
17
17
76
140
123
25
87
17
13
80
(*)
0
...
Other Asia and Pacific
Honff Kons
JlUIlg XYUIlg ..
India
Indonesia
Malaysia..........
Philippines
Singapore
South Korea......
Taiwan..
,
Thailand ,
Other......
„...„..„.,..,
1
1,613
560
332
151
77
1,053
19
263
770
,
Middle East
Israel
OPEC
Other
,
,.....,...
..
,
1,351
2,385
* Less than $500,000.
D
Suppressed to avoid disclosure of data of individual companies.
1. Based on the BEA survey taken in June 1982.
Primary
and
fabricated
metals
20,084
Other Europe
Austria
Norway
Portugal
Spain
..,
Sweden
Switzerland
Turkey
Other
,.
Memorandum — OPEC 2
Chemicals
and
allied
products
8,145
... .
European Communities (10)...
Belgium
.....
Denmark
...
France
..
Germany
Greece
Ireland
.;..,
Italy
,
Luxembourg
,.
Netherlands
United Kingdom
International
Total
Food
and
kindred
products
31,280
Europe
Other Africa ,.
Saharan..,,
Egypt
Libya
Other
Sub-Saharan
Liberia
Nigeria
Other
Petroleum
43,748
All countries
Developed countries
Canada
Mining
Finance
(except
banking),
insurance
and
real
estate
(71)
255
D
(D)
()
(°)
16
': 1
'(*)
71
(*)
5
1
2
1
6
1
1
0
(*)
6
0
4
2
.
(D)
(*)
0
1
D
0
(*)
5
4
(*)
(*)
(D)
(D)
(*)
0
13
3
10
(*)
111
8
5
2
5
21
(D)
2
13
3
(D)
12
3
0
3
(*)
(*)
5
0
0
(*)
(*)
34
3
4
(')
2
(*)
17
6
2
0
0
(D)
2
D
(D)
()
10
(D)
D
82
(D)
(D)
0
O
O
(°)
0
O
1,868
o
(*)
(D)
(*)
8
2
0
0
2
6
0
2
4
0
0
0
0
0
(*)
(*)
0
0
87
(u)
50
(D)
3
3
(*)
(*)
60
(D)
34
(D)
19
0
0
0
D
74
7
5
9
(D)
23
1
2
9
(D)
(*)
171
44
(*)
8
<")
<")
22
(D)
25
(D)
2
15
C0)
0
521
(D)
(*)
6
(D)
(D)
(D)
(D0)
212
5
3
2
50
24
49
10
61
D
(D)
()
(*)
0
0
( 2)
D
()
0
3
(*)
0
(*)
(*)
(*)
(D)
0
0
(*)
(*)
900
20
70
D
(D)
(D)
( )
20
4
35
O
(D)
(*)
(°)
(*)
6
451
253
48
69
11
(D)
13
(D)
49
179
2. See footnote 5, table 1.
NOTE.—Estimates are for nonbank foreign affiliates of nonbank U.S. parents.
1
64
28
SURVEY OF CURRENT BUSINESS
March 1983
Table 4.—Capital Expenditures by Majority-Owned Foreign Affiliates of U.S. Companies in 1982
[Millions of dollars]
Manufacturing
All
industries
Mining
Petroleum
Total
Food
and
kindred
products
Chemicals
and
allied
products
Primary
and
fabricated
metals
Electric
Maand
Transchinery,
Other
portation manuelecexcept
equiptronic
facturing
electriequipment
cal
ment
Trade
Finance
(except
banking),
insurance
and
real
estate
Other
industries
41,636
756
17,743
16,633
1,323
2,886
861
4,160
1,207
3,805
2,391
3,586
329
2,589
28,850
580
10,688
13,112
971
2,230
515
3,754
805
2,968
1,870
2,747
254
1,471
Canada
7,331
205
3,240
2,775
268
450
157
580
178
568
574
350
50
711
Europe
18,408
4
6,619
9,012
596
1,608
314
2,629
530
2,179
1,157
1,901
157
714
90
(*)
(*)
(*)
CO
CO
5
646
22
5
CO
CO
(*)
4
48
(*)
120
290
All countries
Developed countries
Latin America
South America
Argentina
Brazil .
Chile
Colombia
Ecuador
Peru
Venezuela
Other
.
,
Central America
Mexico
Panama
Other
Other Western Hemisphere
Bahamas
Bermuda
Netherlands Antilles
Trinidad and Tobago
Other
Other Africa
Saharan
Egypt
Libya
Other
Sub-Saharan
Liberia
Nigeria
Other
Middle East
Israel
OPEC . .
Other
Other Asia and Pacific .;
Hong Kong
India
Indonesia
Malaysia
...
Philippines
Singapore
South Korea
Taiwan
Thailand
Other
....
.
2,512
30
(*)
520
810
(*)
36
330
1
235
550
466
35
(D)
42
137
1
8
43
(D)
14
170
1,391
27
1
(D)
672
(*)
6
25
0
1
D
()
1,085
44
(D)
CO
285
6
42
88
CO
62
CO
2
0
2
0
0
0
0
(*)
0
1,539
33
1,385
3
53
29
13
2
20
1,379
157
27
46
945
142
53
1
9
41
2
0
1
(D)
5
(D)
(*)
0
284
3
2
6
242
25
6
(*)
(*)
15
4
(*)
1
8
1
1
0
(*)
116
(D)
(*)
3
9
D
()
5
0
0
64
4
(D)
4
24
8
CO
(*)
1
788
D
(D)
()
26
(D)
(D)
(*)
0
0
71
CO
6
5
CO
2
26
C)
8
600
70
44
32
135
75
187
11
47
(*)
.(*)
(*)
(*)
(*)
0
96
642
9
57
3
(D)
66
(D)
14
115
7
2
370
345
(*)
25
733
667
CO
CO
682
439
25
218
98
42
3
53
115
82
5
28
40
10
0
30
00
37
CO
20
31
24
2
5
00
(D)
CO
46
125
CO
CO
37
381
230
17
134
•CO
CO
CO
CO
CO
CO
176
5,940
3,521
352
655
346
406
403
837
521
840
75
768
135
1,417
2,846
280
507
325
340
142
807
445
567
58
224
3,788
412
1,747
142
529
46
419
420
73
105
4
1
65
2
0
32
0
1
1,130
124
100
27
430
22
340
60
27
2,050
246
1,434
13
64
14
15
225
40
206
35
100
2
13
3
2
41
11
406
60
244
3
31
5
7
55
2
290
4
251
3
(D)
1
2
4
(D)
320
54
258
0
(*)
0
(*)
7
(*)
61
3
48
1
2
2
1
4
(*)
478
(D)
335
(*)
(D)
0
(*)
(D)
(*)
289
CO
199
5
9
3
4
CO
(D)
399
30
157
21
28
10
30
118
5
27
(*)
25
CO
1
0
CO
(*)
(*)
76
7
30
CO
5
(*)
CO
17
(*)
9
2
0
7
31
10
2
18
772
745
4
22
66
56
2
8
96
91
2
3
34
33
0
1
20
20
0
0
78
73
(*)
6
328
328
0
0
149
144
(*)
5
156
140
4
13
20
2
18
(*)
74
34
15
26
399
45
14
37
202
102
22
1
0
(*)
0
20
256
13
24
2
8
1
0
CO
(D)
CO
5
1
0
(*)
1
2
1
0
0
(*)
0
1
0
0
0
0
0
0
3
0
0
0
(*)
3
0
0
0
0
0
0
8
0
(*)
CO
CO
D
•12
1
1
CO
CO
5
11
2
2
2
••(*)
5
74
26
10
(D)
CO
36
26
4
4
0
0
22
CO
(*)
(D)
1,768
563
375
126
62
1,205
(*)
280
925
54
4
1
(*)
3
50
1
12
38
17
(*)
0
0
12
1
1
0
(*)
11
0
CO
D
(*)
(*)
0
(*)
0
0
0
0
0
6
(*)
(*)
0
(*)
6
0
(*)
6
(*)
.(')
(*)
0
0
()
(D)
(*)
0
0
(*)
(D)
0
(*)
(D)
3
20
5
3
(*)
2
15
1
8
6
3
0
0
0
0
3
2
(*)
1
17
6
5
(*)
1
11
D
()
5
CO
669
82
540
47
Developing countries
300
8
1
20
118
(*)
2
24
0
29
98
1,889
583
388
127
68
1,306
11
306
990
Australia New Zealand, and South Africa
Australia
New Zealand
South Africa
1,324
104
1
163
200
14
36
91
8
254
454
1,061
933
43
85
Japan
554
22
10
63
80
4
9
35
0
110
222
5,248
Other Europe
Austria
Norway
Portugal
Spain
Sweden
Switzerland
Turkey
Other
1
7,633
271
17
1,006
2,302
26
139
635
27
705
2,505
11,320
. . .
5,080
44
145
(D)
460
CO
30
119
1
385
3,750
2,250
1,752
71
427
. . . . ..
2
(*)
0
0
1
(*)
(*)
0
0
0
862
.
14,753
454
261
1,534
3,042
53
197
929
29
1,321
6,932
3,655
267
1,469
83
1,166
250
330
15
76
European Communities (10)
Belgium
Denmark
France
Germany
.
Greece
Ireland
Italy
Luxembourg
Netherlands
.
United Kingdom
1,301
118
93
290
215
13
20
126
(*)
110
315
1
0
1
0
436
1
399
36
31
23
8
(')
4
4
1
(*)
5
4
(*)
(')
(D)
0
(D)
0
10
2
7
(*)
12
12
0
0
0
0
0
0
(D)
(*)
CO
0
73
34
35
4
2
1
(*)
(*)
126
23
97
7
3,514
437
26
1,438
631
196
312
81
102
247
45
14
0
0
13
(*)
0
0
0
0
1
0
2,318
CO
0
1,380
513
75
80
CO
3
217
(D)
589
24
26
29
98
93
179
40
70
18
13
51
(")
0
1
1
36
2
3
4
4
2
132
4
7
5
4
17
77
3
2
6
8
10
3
0
4
(*)
(*)
2
0
0
(*)
(*)
56
4
5
(')
1
(*)
35
7
4
0
0
242
8
(D)
8
69
25
47
23
44
7
(D)
30
0
0
0
CO
3
13
0
CO
(*)
0
68
5
CO
12
CO
12
3
4
CO
1
CO
180
35
(*)
8
18
CO
29
CO
29
10
1
12
2
0
C)
(*)
(*)
10
0
0
(*)
(*)
401
15
2,303
288
46
CO
D
14
14
CO
41
International
1,465
Memorandum—OPEC2
2,916
* Less than $500,000.
D
Suppressed to avoid disclosure of data of individual companies.
1. Based on the BEA survey taken in December 1982.
CO
CO
21
8
CO
15
(*)
17
1
1
15
(*)
0
0
(*)
()
(D)
2
0
0
2
CO
0
D
()
(*)'
.(*)
1
71
66
CO
CO
0
CO
0
40
1,115
68
CO
CO
2
33
4
CO
44
CO
(*)
8
2
CO
15
(*)
(*)
1
CO
350
()
2. See footnote 5, table 1.
NOTE.—Estimates are for nonbank foreign affiliates of nonbank U.S. parents.
180
1
129
SURVEY OF CURRENT BUSINESS
March 1983
29
Table 5.—Capital Expenditures by Majority-Owned Foreign Affiliates of U.S. Companies in 19831
[Millions of dollars]
Manufacturing
All
industries
Mining
Petroleum
Total
Food
and
kindred
products
Chemicals
and
allied
products
41,812
AH countries
469
17,225
17,206
1,520
2,997
Primary
and
fabricated
metals
Machinery,
except
electrical
997
4,442
Finance
(except
banking),
insurance
and
real
estate
ElectriTranscal and
portation
elecequiptronic
ment
equipment
Other
manufacturing
1,287
3,435
2,529
3,964
291
2,657
Trade
Other
industries
29,133
320
10,477
13,573
1,069
2,335
544
4,064
814
2,701
2,046
3,077
236
1,450
Canada
7,427
120
3,190
2,953
310
462
207
500
222
665
587
379
55
729
Europe
18,886
6
6,495
9,372
631
1,651
312
3,151
488
1,841
1,299
2,182
143
687
15,626
566
313
1,980
3,255
49
207
1,077
33
1,388
6,759
2
(*)
0
0
(*)
(*)
(*)
0
0
0
4,940
54
179
(°)
386
(D)
31
108
2
530
3,483
8,562
367
19
1,361
2,538
23
145
785
31
695
2,598
580
14
11
69
90
6
7
42
0
95
247
1,517
135
3
198
240
10
44
78
5
286
518
287
11
1
29
85
(*)
4
20
0
19
117
3,035
33
(*)
710
925
(*)
0
(D)
()
2
200
680
418
36
2
39
158
1
(D)
38
(°)
17
112
1,505
CO
1
136
730
(')
4
31
0
2
O3)
1,220
(D)
1
180
310
6
52
<")
D
(D)
1,428
125
109
335
268
12
24
128
(*)•
107
319
69
1
(*)
(')
4
<*)
3
(*)
(*)
3
58
626
19
5
(D)
57
(D)
4
55
(*)
54
300
3,261
172
1,540
95
725
246
378
22
82
5
0
4
0
0
0
0
(*)
0
1,556
23
1,439
3
46
16
10
3
15
811
71
26
45
451
145
63
6
3
51
5
0
4
29
(°)
(D)
(*)
0
134
5
3
3
85
29
6
2
(*)
26
4
(*)
(*)
15
2
3
0
(*)
116
2
(*)
3
7
D
(D)
()
0
0
70
4
P)
4
30
6
8
1
(°)
335
(D)
1
24
D
()
2
(*)
0
0
79
(D)
<")
8
P)
3
32
3
(°)
754
68
60
43
210
78
220
12
64
75
(D)
(°)
0
(*)
(')
(°)
0
61
(D)
(°)
4
18
7
(")
O
772
0
120
563
9
70
4
(D)
73 ?
(D)
37
81
6
1
2,048
1,507
75
466
193
172
(*)
21
672
599
(D)
(D)
684
460
27
197
119
55
3
61
152
107
9
35
21
11
0
11
(D)
32
(D)
18
31
25
2
4
(D)
139
(D)
41
124
92
5
27
435
222
25
188
32
32
(*)
(*)
32
22
(°)
(D)
11,787
149
6,198
3,633
450
662
453
378
473
735
483
887
55
865
5,191
103
1,330
2,928
371
528
437
320
170
678
424
575
41
214
3,956
425
1,962
107
602
48
361
380
72
74
4
(D)
49
1
0
11
0
(°)
1,109
124
(D)
16
492
29
(D)
37
18
2,263
263
1,656
13
73
11
11
188
47
278
61
119
3
21
2
4
57
10
425
42
292
4
28
3
3
50
3
413
7
(D)
1
3
1
1
5
(D)
306
(D)
262
0
(*)
0
(*)
(D)
(*)
95
8
78
1
1
2
1
5
(*)
435
66
308
(*)
(D)
0
(*)
(D)
1
311
(°)
(D)
4
(D)
3
2
18
(D)
430
25
165
15
25
8
(D)
145
(D)
12
(*)
9
(*)
(°)
0
2
(*)
D
()
69
9
27
14
(D)
(*)
2
10
D
()
887
775
32
80
7
1
0
6
12
4
2
6
650
619
5
26
90
78
2
10
98
92
2
4
23
21
0
2
14
14
0
0
7.2
67
(*)
5
244
243
0
(*)
110
104
1
5
135
112
6
17
16
1
15
(*)
67
39
4
24
348
53
17
(D)
141
(D)
22
1
0
(*)
0
21
209
12
(D)
(D)
134
8
16
3
(*)
(*)'
2
10
3
1
0
(*)
(*)
2
5
3
0
(*)
1
2
1
0
0
(*)
0
1
0
0
0
0
0
0
4
0
0
0
(*)
4
0
0
0
0
0
0
3
0
(*)
0
1
1
11
1
(*)
2
3
4
13
2
5
1
(*)
5
78
34
(D)
1
1
(°)
1,716
605
407
119
79
1,110
11
267
832
20
5
5
0
0
15
1
(°)
(D)
1,558
552
361
119
72
1,006
(*)
235
771
97
32
(D)
(*)
(D)
64
1
21
43
27
1
0
0
1
26
1
1
24
20
2
1
0
1
18
0
(D)
P)
9
(°)
0
0
<°)
D
( 0)
(*))
(D
(*)
(*)
0
(*)
0
0
0
0
0
8
1
1
0
(*)
8
0
3
4
(D)
D
(D)
()
0
0
(*)
0
(D)
(D)
0
0
(D)
(D)
0
D
(*)
2
27
13
10
(*)
2
14
1
8
5
3
0
0
0
0
3
1
(*)
1
10
3
(D)
(*)
(D)
7
5
D
(D)
()
632
88
511
33
(*)
0
(*)
0
427
1
405
21
29
18
10
1
5
4
1
(*)
6
5
(*)
(*)
(*)
0
(*)
0
11
3
9
(*)
7
7
0
0
(*)
(*)
(*)
0
83
41
36
6
1
1
(*)
(*)
92
26
60
5
4,248
618
38
1,754
744
181
201
83
121
381
127
25
0
0
25
(*)
0
0
0
0
.(*)
0
2,882
(D)
0
1,675
617
47
52
(D)
3
334
108
580
38
38
19
108
103
110
39
83
30
13
47
n
0
3
7
4
108
7
12
4
6
27
37
(*)
2
4
8
7
4
0
1
(*)
(*)
2
0
0
(*)
(*)
47
10
3
(*)
D
()
(*)
(D)
6
5
0
0
288
11
(D)
(D)
80
35
43
25
53
15
1
0
0
0
0
D
3
6
0
(D)
(*)
0
(D)
6
(D)
(D)
8
8
D
()
6
(D)
3
(*)
201
41
(*)
14
17
(D)
26
(D)
35
16
1
10
2
0
(*)
(*)
(*)
8
0
0
(*)
(*)
549
(D)
(*)
21
2
(D)
4
(')
1
1
5
(D)
2,578
62
(D)
6
(D)
(D)
(D)
27
212
1
Developed countries..
,„.....
,
European Communities (10)
Belgium ..
Denmark
France
Germany ..............
Greece................. .,....,.„
Ireland
.,
Italy
..
Luxembourg
Netherlands....
United Kingdom.....
Other Europe ...
Austria
Norway., ,
Portugal
Spain
Sweden ...
Switzerland
Turkey
Other
....
.,
.. ..
,
....
Japan..
Australia, New Zealand, and South Africa..
Australia
New Zealand
South Africa...
... ,.
Developing countries
Latin America
South America
Argentina.....
Brazil
Chile
Colombia
Ecuador
,
Peru
Venezuela
Other
,.
, ..
,
..
..
Central America
Mexico
Panama ... . . .
Other
Other Africa ..
Saharan ..
Egypt,..,.
Libya
.".„...
Other.
,
Sub-Saharan
Liberia
,,
Nigeria
Other...
,
..
.
Other Western Hemisphere
Bahamas.
.. ..
Bermuda
Netherlands Antilles .
Trinidad and Tobago
Other
Middle East
Israel.
OPEC
Other
...„,..„
...
..
......
,
'Tl/ .".'.„.'.'.""'...'."
.'
"'
.. .
,
,
...
Other Asia and Pacific
Hong Kong.,.,,,,.
, „
India.
.
Indonesia..................
,
,.
Malaysia.................
„....,
,
....,
Philippines...
,
„
,..,..„. ..,.....'. .
Singapore
,....,
...,,....,..,
South Korea ,
„
,
. ..
Taiwan
,
,,
Thailand...,
.,,,,.,
Other
,
,
,.,.
International
Memorandum —OPEC 2
,
,.,. „„„
.. ..
,....„.
892
3,159
•Less than $500,000.
Suppressed to avoid disclosure of data of individual companies.
1. Based on the BEA survey taken in December 1982.
D
1
i
<*)
30
(*)
1
0
()
0
0
0
D
()
(76)
()
(*)
550
o
342
248
2. See footnote 5, table 1.
NOTE.—Estimates are for nonbank foreign affiliates of nonbank U.S. parents.
(D)
30
SURVEY OF CURRENT BUSINESS
year reflected spending on several upstream and downstream projects.
In the North Sea area, British affiliates plan to cut spending 7 percent, to $3.5 billion, after a 9-percent
decline/This year's spending partly
reflects the oil companies' response to
falling oil prices and a smaller-thanexpected decline in taxation on North
Sea operations. Norwegian affiliates
plan an increase of 4 percent, to $1.4
billion, following a 15-percent increase. This year's increase—the
smallest in a decade—reflects a slowdown in the pace of development of
some offshore oilfields and gasfields.
In developing countries, affiliates
plan a 4-percent increase, to $6.2 billion, following an 18-percent increase
last year. The largest increase this
year is in "other Asia and Pacific,"
mostly in Indonesia and Malaysia; it
is for continued development of offshore oilfields and gasfields. Partly
offsetting is a decline in "other
Africa," largely in Cameroon, which
reflects a slowdown in oilfield development.
Affiliates in "international" plan to
cut their spending about in half, to
$0.6 billion, after a 24-percent increase last year. Reduced spending for
both tankers and offshore drilling
platforms is planned.
billion, follows a 27-percent decline.
Beginning in the late 1970's, affiliates
in this industry undertook massive
new programs involving construction
of assembly and parts production
facilities for "world cars." Consequently, these affiliates' expenditures
increased from an average of 6.7 percent of total expenditures in 1970-78,
to 9.7 percent in 1979-83. Their expenditures rose from an average of
$1.2 billion in 1970-78 to $3.9 billion
in 1979-83. The declines in spending
planned in 1982 and 1983 largely
result from the completion of some
new facilities and the deferral of
nonessential spending due to the current weak worldwide demand for
autos.
In developed countries, manufacturing affiliates plan a 4-percent increase
in spending, to $13.6 billion, following
a 15-percent decline in 1982. Canadian affiliates plan a 6-percent increase,
to $3.0 billion, after a 27-percent decline. The largest increase is in transportation equipment; it reflects increased spending on a new van and
bus manufacturing facility.
In Europe, spending increases of 35
percent by French affiliates, to $1.4
billion, and 4 percent by British affiliates, to $2.6 billion, are centered in
nonelectrical machinery; they largely
reflect increased capitalization of
computers for rental. French manufacturers recently sharply cut back
their 1982, but not 1983, spending
plans. German affiliates plan a 10percent increase, to $2.5 billion; a
small decline in primary and fabricated metals is more than offset by increases in every other manufacturing
industry. In "other Europe," affiliates
plan to cut spending over two-fifths,
to $0.8 billion. The cut is almost en-
Manufacturing
Manufacturing affiliates plan a 3percent increase in spending, to $17.2
billion, after a decline of 13 percent.
Although all industries except transportation equipment plan increases,
affiliates in nonelectrical machinery,
especially computer manufacturers,
plan a particularly large increase.
In transportation equipment, a 10percent decline in spending, to $3.4
March 1983
tirely due to the completion of transportation equipment manufacturing
facilities in Spain and Austria in
1982.
In developing countries, affiliates
plan a 3-percent spending rise, to $3.6
billion, after a 6-percent decline last
year. The largest rise is in Brazil; it
reflects expansion by a bauxite
mining and aluminum manufacturing
affiliate. Partly offsetting is a decline
in Mexico, where spending for a new
engine manufacturing plant was
higher in 1982 than in 1983.
Other industries
Mining affiliates plan to cut spending 38 percent, to $0.5 billion, after a
slightly larger cut last year. The cuts
in both years are centered in Australia, mostly in bauxite mining, and in
Canada, mostly in coal mining last
year and potash mining this year. In
part, they reflect the completion of
some smelter renovation and expansion projects and the deferral of
others because of depressed mineral
demand.
Trade affiliates plan an 11-percent
increase this year, to $4.0 billion. The
increase, which is widespread among
areas, is mostly by affiliates that
market computers.
Spending by affiliates in finance
(except banking), insurance, and real
estate is to remain at $0.3 billion in
1983; small changes among several
countries are offsetting.
Affiliates in "other industries"—agriculture, construction, transportation, communication, public utilities,
and other services—plan a 3-percent
increase, to $2.7 billion. The increase
is centered in Hong Kong and is
largely for electric powerplant construction.
By CAROL S. CARSON
Net Exports of Goods and Services, 1980-82
THE exchange of goods and
services
between the United States and foreign countries has been strongly affected in recent years by recessions in
the United States and abroad; by
changes in the value of the dollar relative to foreign currencies; and record
high interest rates and financial innovations. Developments are discussed
each quarter in the SURVEY OF CURRENT BUSINESS from the perspective of
the U.S. international transactions accounts (hereafter called balance of
payments accounts, BPA's). This
SURVEY, for example, contains a discussion of the fourth quarter and year
1982, The purpose of this article about
net exports is to review developments
from the perspective of the national
income
and
product accounts
(NIPA's). In particular, the review
will be in terms of constant-dollar estimates. (Quarterly constant-dollar estimates, expanded two years ago,
appear in tables 4.2 and 44 in the National Income and Product Accounts
Tables.)
The first section of the article provides definitions and a summary
methodology. Its primary purpose is
to present material that is basic to
the use of a set of estimates on which
attention has focused recently. A secondary purpose is to facilitate use of
both the NIPA's and BPA's by noting
the similarities and differences between the parts of the two sets of accounts that cover the same area of
economic activity. Because the adjustment for price change is a distinguishing feature of the estimates discussed in this article and because the
adjustment is not conceptually clear
cut in all cases, let alone statistically
perfect, the methodology will emphasize deflation procedures.
The next two sections discuss movements in net exports in 1980-82: the
halving of net exports from the first
quarter of 1980 to the fourth quarter
of 1982, almost all due to a decline in
exports; the atypicality of this pattern
during an economic downturn; the
shift in the composition of net exports
away from merchandise and toward
factor income, and, within the latter,
away from corporate profits and
toward interest; and the factors underlying these developments. These
factors include the general ones mentioned above and the pervasive influence of petroleum. The discussion
begins with an overview of these developments and then proceeds to
detail by component.
The last section discusses two supplementary measures of constantdollar net exports. One, based on an
alternative deflation procedure, shows
that the quantity of goods and services that the United States can purchase with the proceeds of its exports
held up better than did the conventional measure of net exports. The
other shows that imports declined
much more if expressed in 1981 dollars, rather than in 1972 dollars.
Definitions and methodology
The net exports component of GNP
is exports of goods and services from
the United States less imports of
goods and services into the United
States. Goods and services exported
are part of U.S. production and thus
must be included in accounting for
production. Goods and services imported, because they are included in
the type-of-purchaser categories (for
example, personal consumption expenditures), must be subtracted be-
cause they are not part of U.S. production. Conventionally, the subtraction is from exports, and the resulting
net measure is of interest, particularly in evaluating aspects of the U.S.
economic position relative to that of
foreigners.
The net exports measure shown in
the NIPA's is related to one of the
balances included in the BPA presentations. As shown in table 1 of the
Reconciliation and Other Special
Tables, on page 18, the BPA balance
on goods and services differs from
NIPA net exports because: (1) the
treatments of nonmonetary gold
differ; (2) the NIPA's exclude capital
gains net of losses from the income of
foreign affiliates of U.S. parent companies and of U.S. affiliates of foreign
parent companies; (3) the NIPA's exclude statistical revisions already incorporated in the BPA's; (4) the
NIPA's exclude interest paid by the
U.S. Government on its liabilities to
foreign governments, businesses, and
persons (and account for it instead
like a transfer payment); and (5) the
treatments of unusual transactions
may differ. In recent years such unusual transactions, which are shown
in the table as "other items," were
arms shipments to Israel financed
under the Emergency Security Act of
1973 and subsequent legislation. In
the BPA's, the shipments are included in exports; in the NIPA's, they are
excluded from exports and accounted
for instead as government purchases
when acquired by the U.S. Government. *
1. For a fuller discussion of the reconciliation items,
see the note that introduced the reconciliation table:
SURVEY OF CURRENT BUSINESS 59 (December 1979): 6.
31
32
SURVEY OF CURRENT BUSINESS
March 1983
CHART 6
Net Exports of Goods and Services, 1956-82
Billion 1972 $
175
Billion 1972 $
175
150
- 150
125
- 125
100
- 100
75
- 75
50
-
50
25
"
25
1 1 1 n t t i 11iiill ril i n 1 1 i i li i'il
-25
1956
58
62
64
66
68
-25
70
72
74
76
78
80
82
Seasonally Adjusted at Annual Rates
Note.—Business cycle peaks (P), and troughs (T), are as designated by the National Bureau of Economic Research, Inc. Shaded areas represent recessions.
U.S. Department of Commerce, Bureau of Economic Analysis
By far the largest of these reconciliation items is the NIPA exclusion of
interest paid by the U.S. Government.
In recent years, it has increased
sharply—from $12.5 billion in 1980 to
$18.0 billion in 1982. In that year, it
accounted for most of the difference
between the BPA balance on goods
and services and NIPA net exports;
the other items, each $1.5 billion or
less, were partially offsetting.
Definitions.—A basic classification
within the NIPA estimates of exports
and imports is: (1) merchandise, or
goods; (2) factor income, or payments
for the services of factors of production; and (3) other services. Within
the three categories, the content of
items is the same, with the exceptions
just noted, as that of corresponding
BPA items.2 (See, for example, table 1
of the BPA presentation.)
2. The three NIPA categories consist of the following items from BPA table 1: merchandise, lines 2 and
18; factor income, lines 11-15, 27-30, and the small
amount of labor compensation hi lines 9 and 25; other
services, lines 3-10 and 19-26, less the small amounts
of labor compensation in lines 9 and 25. (Line 31 is interest paid by the U.S. Government to foreigners,
which is excluded from NIPA imports.)
Because of the similarity of content, the line-by-line
definitions for BPA table 1 in the "Explanatory
Merchandise consists of movable
goods (other than those associated
with transactions of U.S. defense
agencies) that are sold, given away, or
otherwise transferred from U.S. to
foreign or from foreign to U.S. ownership.
Factor income consists of labor and
property income, measured as compensation of employees, net interest,
and corporate profits. Compensation
of employees, which is small and
stable enough to be ignored for most
purposes, consists of the compensation
paid to those crossing the U.S.-Canadian or U.S.-Mexican border to work
and to U.S. residents temporarily
working abroad and to foreigners
temporarily working in the United
States. Interest consists of interest
flowing between parent businesses
and their affiliates, and interest on
debt securities, loans, deposits, and
other claims. Profits consist of divi-
dends, earnings of unincorporated affiliates, and reinvested earnings of incorporated affiliates.3
Other services include a number of
items: U.S. Government transactions,
largely those of defense agencies;
travel expenditures (lodging, food, internal transportation, personal purchases, and related items); passenger
fares for ocean and air transportation;
other
transportation
(including
freight, port expenditures, and
charters and rentals); fees and royalties for use or sale of intangibles such
as patents and trademarks, for rental
of tangible property, and for certain
services rendered; and other private
services, such as reinsurance, technical services, and communications.
Usually the content and classifications of exports and imports are symmetrical: A given item appears both
as an export and as an import, and is
classified in the same way in both
Notes" of the June 1978 SURVEY (Part II) can be used
for the NIPA items. Also, the BPA service items,
which include both NIPA factor income and other
services, are described in detail in Anthony J. DiLullo,
"Service Transactions in the U.S. International Accounts, 1970-80," SURVEY 61 (November 1981): 29-46.
3. For a discussion of reinvested earnings of incorporated affiliates, which were introduced as a component of rest-of-the-world corporate profits in the comprehensive revision of the NIPA's completed in 1980,
see the Special Note "Reinvested Earnings of Incorporated Affiliates in the National Income and Product
Accounts," SURVEY 62 (September 1982): 6-7.
March 1983
cases. For example, travel expenditures appear both as an export and as
an import, and are classified as a
service in both. As a result, a number
of net measures (or balances), calculated as the export less the corresponding import, may be assembled
for components of exports and imports. An example of such a balance
is that on factor income. This balance
is identical to the rest-of-the-world
sector in presentations of GNP by
sector. In this context, it is the difference between GNP—that is, gross national product—and gross domestic
product, and is of interest in showing
the part of national production originating in the rest of the world.4
Methodology. —Current-dollar estimates of exports and imports are prepared as part of the BPA's and are incorporated, with the necessary reconciliations, into the NIPA's. For example, the estimates for the fourth quarter of 1982 shown in the National
Income and Product Accounts Tables
in this issue of the SURVEY are the
same as the corresponding estimates
that appear in "International Transactions Accounts, Fourth Quarter and
Year 1982."5 (The NIPA currentdollar estimates of net exports in this
issue are second-revision estimates for
the fourth quarter of 1982. The NIPA
estimates that appeared before the
BPA estimates became available—the
estimates for the fourth quarter that
appeared in the January and February issues—were based on incomplete
information supplemented by assumptions.)
Constant-dollar
estimates—often
called "real" or "deflated" estimates—are estimates from which
price change has been removed. For
these estimates, a component is
valued at its price in a valuation
(base) year—at present, the year 1972,
and hence the expression "1972 dollars." Statistically, most constantdollar estimates are obtained by dividing detailed current-dollar components by appropriate price indexes,
with 1972=100.
4. For definitions of "national" and "domestic," and
of others such as "gross" and "net," see "The National
Income and Product Accounts of the United States:
An Overview," SURVEY 61 (February 1981): 28-34.
5. For the sources and methods from which the current-dollar estimates are derived, reference can be
made to BPA documentation. See the "Explanatory
Notes," SURVEY 58 (June 1978, Part II): 8-15 and 48,
for a summary methodology.
401-010 0 - 8 3 - 5
33
SURVEY OF CURRENT BUSINESS
Table 1.—Net exports in Constant Dollars
[Billions of 1972 dollars; seasonally adjusted at annual rates]
Ibalances
Net Exports
(2) less (3), or
(4) plus (5)
plus (6)
(1)
IV...
1978: I
II
Ill
(3)
Factor
income
(4)
(5)
Other
services
(6)
,
„ .
.
..,
rv
1980- I
II
III
rv
,
..
rv.....
...
,
Addendum- Change, 1980- 1 to 1982- IV
1110
1139
1152
1114
887
91.3
903
93.2
19
1.4
2.6
-2.6
17 1
17.1
175
16.0
19.1
224
253
293
,
rv... ...
1982: I
II
HI.,
IV
Merchandise
223
22 6
249
181
, ,. .,
1979: I
II
Ill
1981- I
II
Ill
(2)
Imports
118.1
1243
1288
1356
99.0
101.9
1035
106.2
-5.9
.3
2-1
27
20.1
17.6
196
22.2
5.0
45
37
44
33.4
315
39.8
442
138.8
1404
149.2
1564
105.4
1090
109.4
112.2
6.0
28
7.4
11 5
23.3
251
28.5
283
42
36
38
44
50.5
53.2
531
45.6
1977- I
II
ni
Exports
164.4
161.2
1559
155.1
113.9
108.0
1028
109.6
16.6
19.9
20 9
17.0
28.6
26.8
257
23.4
5.3
64
65
51
48.2
442
39.2
365
159.3
1597
1578
1569
111.1
1155
1187
1204
18.2
141
6.7
38
250
244
25.5
267
50
57
70
60
369
357
275
272
1517
1544
1475
1388
114 7
1187
1200
1116
73
4.9
24
28
227
242
225
234
69
66
73
65
233
256
23
194
52
12
34
4;1
49
4.8
NOTE.—Estimates are from table 4.2 of the National Income and Product Accounts Tables.
The constant-dollar estimates of net tution of price indexes developed by
exports, although improved in a the Bureau of Labor Statistics for the
number of ways in recent years, are unit-value indexes.)
not fully satisfactory because of inadFor factor income, the currentequacies in the underlying price infor- dollar estimates are based, for direct
mation. Constant-dollar estimates of investment income, largely on reports
exports and of imports are prepared by those in the United States involved
separately for merchandise, factor in such investment (major U.S. direct
income, and, for annual estimates, investors reporting on their affiliates
five types of services. The estimates of and major U.S. affiliates of foreign
exports and imports are summed and direct investors reporting on themconstant-dollar net exports are de- selves) and, for portfolio investment,
rived as exports less imports.
on representative asset yields in comFor merchandise, current-dollar es- bination with outstanding positions.6
timates are based on administrative The totals of both factor income rerecords filed as goods leave or enter ceived and factor income paid are dithe country. Constant-dollar estimates vided by the implicit price deflator for
for exports and for imports are pre- net domestic product to obtain conpared, by end-use category, by divid- stant-dollar estimates. Lack of deing the current-dollar estimates by tailed price data necessitates the use
corresponding unit-value indexes; the of such a broad domestic price measresulting quotients are summed to ure, but its use is consistent with the
obtain total exports and imports of basic concepts of measuring factor
merchandise. The unit-value indexes income.7
are not strictly appropriate for this
use, because they are not true price
indexes—they are obtained by divid6. Direct investment and portfolio investment are
classifications based on
a foring the total value of a commodity ex- eign resident in the caseextent of ownership byUnited
of investment in the
ported or imported by the number of States and by a U.S. resident in the case of investphysical units, rather than by specifi- ment abroad—10 percent or more for direct, less than
percent for portfolio.
cation pricing—and because detailed 107. For a detailed discussion of the deflation of factor
indexes are not combined in a wholly income as well as a description and evaluation of deappropriate way. (BEA has underway flation of the other components of net exports, see
Edward
in
a project to improve the deflation of MeasuresF.ofDenison, "International Transactions 61
the Nation's Production," SURVEY
merchandise that involves the substi- (May 1981): 22-28.
34
Within other services, current-dollar
estimates of U.S. government transactions, largely transfers under U.S.
military sales contracts and direct defense expenditures abroad, are based
mainly on reports from the Department of Defense. The transfers, which
are exports, are deflated by type of
product using implicit price deflators
prepared for the national defense purchases component of government purchases, and the direct defense expenditures, which are imports, are deflated by the national defense deflators and foreign consumer price Indexes. Travel expenditures, based on
data on number of travelers and average expenditures, are deflated by consumer price indexes for the countries
in which the goods were purchased.
Passenger fares, based on the number
of travelers and average round-trip
fares, are deflated by price indexes
derived from information on average
fares as reported by travelers and
published fares. For other transportation, freight charges and port expenditures in a base year are moved by
volume indexes. For the remaining
services, no directly relevant price information is available; they are deflated by the implicit price deflator
for gross domestic product because
they closely resemble factor services.
As noted earlier, the preparation of
the constant-dollar estimates for the
other services category in this detail
is for annual estimates. For current
quarters, constant-dollar estimates
are prepared only for the total, using
an extrapolation of the implicit price
deflator for the total.
1980-82: An Overview
From early 1980 to the end of 1982,
constant-dollar net exports plummeted (chart 6 and table I).8 Technically,
a peak was reached in the second
quarter of 1980, at $53.2 billion. (The
third quarter, $0.1 billion lower, was,
given measurement error, the same.)
However, the first quarter, when net
exports were $50.5 billion, will be
used as the initial period for comparisons, for two reasons. First, both ex-
SURVEY OF CURRENT BUSINESS
March 1983
ports and imports, after trending up,
reversed direction in that quarter.
Second, the U.S. economy, as measured by real GNP, was at a peak in
that quarter. After mid-1980, net exports turned down (with only two onequarter interruptions), reaching $27.2
billion in the fourth quarter of 1982—
a drop of almost one-half over 3 years.
Exports, at $164.4 billion in the
first quarter of 1980, declined to
$155.1 billion by the end of that year,
increased to a quarterly average of
$159.5 billion in the first half of 1981,
and then declined steadily (except in
the second quarter of 1982) to $138.8
in the fourth quarter of 1982. Over
the 3 years, the decline was $25.6 billion and more than accounted for the
decline in net exports. Imports, at
$113.9 billion in the first quarter of
1980, declined to $102.8 billion in the
third quarter, and then resumed an
uptrend, reaching $120.4 billion in the
fourth quarter of 1981. In 1982, imports dropped about $6 billion in the
first quarter, recovered that amount
over the second and third quarters,
and then declined $8.4 billion in the
fourth quarter to $111.6 billion/Over
the 3 years, imports were down $2.3
billion.
If 1980-82 is treated as a single economic downturn, as may be argued is
reasonable because real GNP in the
fourth quarter of 1982 remained well
below its 1980 peak, the direction of
these changes is atypical. Usually, net
exports have increased during downturns, as exports increased and imports decreased. As shown in table 2,
this was the pattern of the downturns
of the 1960's and 1970's. The 1980-82
decline in net exports was $2.1 billion
per quarter, in contrast to an increase
of $1.8 billion in the three preceding
downturns. Exports and, to a smaller
extent, imports contributed to the
atypical pattern: exports registered a
decline of $2.3 billion per quarter, in
contrast to a $0.6 billion increase; imports registered a small decline ($0.2
billion per quarter), in contrast to a
$1.2 billion decline.
The table also shows two subperiods
that are usually designated recessions. In the two-quarter recession of
1980, exports—rather than increasing—declined sharply. Imports declined, and even more sharply, so that
the net increased. For the recession
that began in the third quarter of
1981, exports again declined sharply,
but this time far more than imports,
Table 2.—Net Exports in Cyclical Downturns, 1960-82
[Billions of 1972 dollars; seasonally adjusted at annual rates]
GNP
Quarters of peaks and troughs in real GNP
Imports
Merchandise
Factor
income
Other
services
740.7
732.1
-8.6
-2.9
6.0
9.8
3.8
1.3
37.3
39.2
1.9
.6
31.3
29.4
-1.9
6
4.9
8.1
3.2
1.1
5.1
5.4
.3
.1
-4.0
37
.3
.1
.. ...
1,092.0
1,081.4
-10.6
-5.3
.2
3.2
3.0
1.5
67.2
69.4
2.2
1.1
67.0
66.2
-.8
-.4
-3.4
-.4
3.0
1.5
7.7
7.9
.2
.1
-4.1
-4.3
-.2
-.1
1,267.0
1,206.3
-60.7
-12.1
21.2
32.1
10.9
2.1
102.4
104.0
1.6
.3
81.2
71.9
-9.3
-1.8
5.2
16.1
10.9
2.2
16.3
13.4
-2.9
-.6
-.3
2.6
2.9
.6
1,494.9
1,463.8
-31.1
-15.6
50.5
53.1
2.6
1.3
164.4
155.9
-8.5
-4.3
113.9
102.8
-11.1
-5.6
16.6
20.9
4.3
2.2
28.6
25.7
-2.9
-1.5
5.3
6.5
1.2
.6
1,510.4
1,477.2
-33.2
-6.6
39.2
27.2
-12.0
24
157.8
138.8
-19.0
-3.8
118.7
111.6
-7.1
-1.4
6.7
-2.8
9.5
-1.9
25.5
23.4
-2.1
- .4
7.0
6.5
-.5
-.1
1,494.9
1,477.2
-17.7
16
50.5
27.2
-23.3
-2.1
164.4
138.8
-25.2
23
113.9
111.6
2.3
-.2
16.6
28
-19.4
18
28.6
23.4
-5.2
5
5.3
6.5
1.2
.1
-8.0
1.8
.6
1.7
—. 2
.3
,
1969: III
.
........ ......
1970- I l
Change
Change per quarter
....
...
1973- IV
1975- I
Change ...
Change per quarter....
. . . .
,,
,
1981- III 2
1982: IV
Change
Change per quarter
....
Addenda:
1980: I 2
1982- IV
Change..
Change per quarter
,
.....
Change per quarter for 1960, 1969-70, and 19738. Hereafter, reference will be to estimates in constant (1972) dollars unless otherwise noted. Quarterly
estimates are at seasonally adjusted annual rates, and
changes in them are differences between those rates.
Balances
Exports
,
1960: I ... ..
... ,
1960: IV
Change....
Change per Quarter
1980: I
1980- III
Change
Change per quarter
Net
exports
-1.2
1. Use of the fourth quarter of 1970 as the trough, when real GNP, after increasing in the second and third quarters, declined
to $1,084.7 billion, does not significantly affect the results.
2. Latest quarter available.
March 1983
so that the net, too, declined—$12.0
billion over the next five quarters.
An approximate measure of the
effect on the rate of change in GNP of
disproportionate changes in net exports is obtained by comparing rates
of change of GNP—referred to as
gross national product in this section
to emphasize its nature—and gross
domestic purchases. The latter is a
measure of purchases within the
boundaries of the United States and
is equal to gross national product less
exports plus imports—in other words,
it differs from gross national product
by the amount of net exports. (Gross
domestic purchases—dollar amounts
and percent change from the preceding period—are shown in tables 1.31.4 and 8.1 in the National Income
and Product Accounts Tables.) As
shown in column 4 of table 3, in all
except two quarters in 1980-82, the
disproportionate changes in net exports reduced the rate of increase or
added to the rate of decline in gross
national product. In two quarters,
those when the difference between
the annual rates of increase exceeded
2 percentage points, the effect was
substantial. Over the period as a
whole, gross national product declined
at an average annual rate of 0.4 percent and gross domestic purchases increased at an average annual rate of
0.1 percent. The difference between
the two rates indicates that net exports reduced the average annual rate
of increase in gross national product
by approximately 0.5 percentage
points over the period.
Another way of accounting for the
decline in net exports is in terms of
three balances (table 1). The merchandise balance accounted for about fourfifths of the decline from the first
quarter of 1980—$19.4 billion of the
$23.3 billion. The factor-income balance, down $5.2 billion, accounted for
about one-fifth. The balance on other
services was up, about $1 billion.
The composition of net exports in
terms of these balances can be
thought of as weights helping to
assess the importance of the several
factors influencing net exports at a
point of time. As will be brought out
in the discussion that follows, the balances are affected by different factors
or, if by the same factors, to different
extents and in differing ways. The
SURVEY OF CURRENT BUSINESS
35
Table 3.—Rates of Change in Selected Aggregates
[Percent change from preceding quarter; based on constant (1972) dollars at seasonally adjusted annual rates]
Differences
Gross
national
product
1981: I
II
Ill
IV...
,
(1) less (3)
(2)
(3)
(4)
(5)
.
.
1982: I....
II
III
IV
Addendum* Average annual rate of change 1980- 1 to 1982- IV
-9.6
1.6
4.3
-10.6
1.7
6.7
9.3
2.0
5.1
1.0
~1
-2 A
-0.3
4
-.8
7.4
-.4
3.7
-4.7
7.6
13
2.0
-5.7
-.5
-.4
-1.5
-.6
.3
-.2
.2
.4
-5.1
2.1
.7
-1.1
,..,
,
.
(1) less (2)
7.9
-1.5
2.2
-5.3
-5.3
2.5
3.1
-1.0
-4.1
1.7
1.2
-1.3
.2
~4
24
-.1
-1.0
.4
-.5
.2
4
,.,.... ..
.
Gross
domestic
product 2
(1)
1980: II,....,.,.,
Ill
IV...
Gross
domestic
purchases 1
.1
-.3
-.5
I
1. Gross national product less exports of goods and services plus imports of goods and services.
2. Gross national product less product originating in the rest of the world.
NOTE.—Estimates are from table 8.1 of the National Income and Product Accounts Tables.
composition of net exports in terms of
these balances shifted sharply over
the period, as shown in the accompanying tabulation. The balance on merPercent of net exports accounted
for by the balance on:
Merchandise
1980- 1
1982: IV..
33
-10
Factor
income
57
86
Other
services
10
24
chandise accounted for 33 percent of
net exports in the first quarter of
1980. By the fourth quarter of 1982,
the balance was negative, —$2.8 billion, within net exports of $27.2 billion. In recessions the percentage of
net exports accounted by this balance
has usually increased, rather than declined. The decline is consistent, however, with a trend: After each cyclical
increase over the last 20 years (except
around 1970, when the balance was
negative), the percentage was lower
than after the preceding one, falling
from 80 percent in 1961 to 50 percent
in 1975. The Offsetting increase was
shared by the balances on factor
income and other services. The percent accounted for by the balance on
factor income increased from 57 percent to 86 percent in the fourth quarter of 1982, when the balance was
$23.4 billion. This percentage has declined in recessions, but has not
shown a trend. The balance of other
services, which had generally been
negative until 1974, accounted for
about 10 percent of net exports in the
first quarter of 1980. By the fourth
quarter of 1982, when it was $6.5 billion, it accounted for about 25 percent.
1980-82: Detail
In this section, the changes in the
balances on merchandise, factor
income, and other services will be related to general factors, such as levels
of economic activity, foreign exchange
rates, and financial developments,
and to specific developments or
events.
Merchandise.—The $19.4 billion
drop in the merchandise balance from
the first quarter of 1980 to the fourth
quarter of 1982 was more than accounted for by exports. Exports declined $20.7 billion, about 22 percent;
most of the decline was after mid1981 (chart 7). Merchandise imports,
which declined early in the period but
then moved irregularly higher until
near its end, were down only $1.3 billion, about 2 percent.
The percent decline in merchandise
exports was much larger than that in
the total of goods produced in the
United States (4 percent), and production for export became a smaller part
of total goods production. Exports accounted for about 14 percent of the
goods component of GNP in early
1980, but by the end of 1982 the percentage had declined 2.5 points. A decline in this percentage is unusual in
a recession and, as well, goes contrary
to trend. At the cyclical peak in 1960,
36
March 1983
SURVEY OF CURRENT BUSINESS
CHART?
Net Exports of Goods and Services
Billion (1972)$
180
160-
Imports
, ' . , ! ' , , , r ,'. / i , i . i
40-
20
:••••'• ' QtHer$ervices ;
\ -;/;- •-,;,.,
t i - i f - i i . I i. 1 r i , i i it , i I
100
IMPORTS
80 -
60
40
Factor Income
Other Services i
20
J_
1977
1978
1979
1980
1981
1982
Seasonally Adjusted at Annual Rates
\ U.S. Department of Commerce, Bureau of Economic Analysis
83-3-7
exports accounted for only about 7
percent of GNP goods, and there has
been a fairly steady uptrend since. In
contrast, the percent decline in imports was only slightly larger than
that in the total of goods purchased in
the United States (1 percent). Import
penetration was about the same in
the fourth quarter of 1982 as in the
first quarter of 1980, when it was 11.6
percent. This percentage also is about
double the percentage at the peak in
1960.
As will be seen, recessions here and
abroad and changes in the value of
the dollar relative to other currencies
were major factors affecting merchandise. As shown in the lower panel of
chart 8, the dollar had depreciated
during the late 1970's, with the result
that U.S. merchandise became progressively less expensive to foreigners
and foreign merchandise became
more expensive to Americans. Beginning in late 1980, the dollar appreciated strongly (except in late 1981)
through the end of 1982. Against the
currencies of 22 countries of the Organization for Economic Cooperation
and Development (OECD), on a tradeweighted basis, the dollar appreciated
almost 36 percent from the third
quarter of 1980 to the fourth quarter
of 1982. As a result, U.S. merchandise
became more expensive and foreign
goods less expensive.
The resulting tendency for exports
to decline, with some lag, was compounded by the effect of depressed or
declining levels of economic activity
of U.S. trading partners. As shown in
the upper panel of chart 8, industrial
production in Japan and Canada
turned down in mid-1980, recovered
modestly, and turned down again in
1982, and in European OECD countries, after a peak early in 1980, declined and remained depressed. The
effect on imports of the U.S. recessions countered the tendency of imports to increase—again with a lag—
due to the dollar's appreciation. The
uptrend in imports was interrupted
during the brief but sharp recession
in 1980 and the sharper and more
prolonged one in 1981-82.
Chart 9 shows exports by end-use
category. Each of the six categories
declined from the first quarter of 1980
to the fourth quarter of 1982, by
amounts ranging from about 10 to 40
percent. The decline in capital goods,
8
Selected Factors Affecting Net Exports
Index (1967= 100)
300
.INDUSTRIAL PRODUCTION
Japan
250
200
150
100
Index (1977= 100)
1501
~
EXCHANGE BATE2
22 OECD,
Currencies
100
50
JL
1977
1978
1979
1980
1981
1982
Seasonally Adjusted at Annual Rates
1. OECD is Organization for Economic Cooperation and Development.
,
2. Trade-weighted average index of foreign currency price of the
U.S. dollar.
Data: Federal Reserve Board, OECD, Statistics Canada, and
Ministry of International Trade and Industry (Japan).
U.S. Department of Commerce, Bureau of Economic Analysis
33-3-8
except automotive, was the largest decline in dollars—$10.2 billion, one-half
of the total decline—and among the
sharpest in percentage terms (29 percent). Reduced investment activity,
first in Europe and more recently in
developing countries, and the effect of
the dollar's appreciation on price competitiveness were factors. Further,
aircraft shipments, which had been
well-maintained through mid-1981 as
foreign fleets were being rebuilt,
dropped sharply thereafter and accounted for a sizable part of the total
decline.
Automotive exports were down $3.1
billion (41 percent). Exports of cars
March 1983
Merchandise Exports
Billion 1972 $
40
35
30
25
20
15
10
;•- .'P.^'^^eK''"11
i'."iV 1-iVAN'i:.v-irji:'i'-i.'iw i
1977
37
SURVEY OF CURRENT BUSINESS
1978
1979
1980
1981
1982
Seasonally Adjusted at Annual Rates
U.S. Department of Commerce, Bureau of Economic Analysis
33-3-9
and trucks to Canada, which account
for the bulk of exports of finished vehicles, were affected by the Canadian
recessions. Exports of parts to
Canada, a substantial part of which
are for assembly in Canada and
return to the United States as finished vehicles, reflected the weakness
of the auto markets in both countries
in 1982.
Industrial supplies and materials,
down $2.8 billion (12 percent), also
showed sensitivity to economic conditions abroad and the dollars' value—
the potential effect of the latter underscored by the homogeneity of
many commodities in this category.
Among them, exports of iron and
steel products and steel-making materials and of nonferrous metals fell in
1982. The fall in steel products also
reflected a worldwide slowing in oil
well drilling. In contrast, energy exports — petroleum and petroleum products as well as coal—were up. Exports
of petroleum products stepped up following removal of export restrictions
in March 1981.
Consumer goods were down $2.4 billion (25 percent). The decline was in
durable goods; after a spike in the
first quarter of 1980 due to numismatic coins, they declined steadily; nondurable goods, although registering
the impact of recession abroad,
changed little. The smallest percentage decline among end-use categories
was in foods, feeds, and beverages,
down $1.6 billion (11 percent). Part of
the decline can be traced to the embarbo on shipments to the Soviet
Union imposed in January 1980—
shipments of corn, wheat, and soybeans in 1980 were less than onethird their 1979 volume—and the
strained trade relations thereafter
that led the Soviet Union to limit its
purchases of U.S. grain. In addition,
in the face of record world supplies —
for example, in corn and wheat— and
weakening demand in 1982, price
competition intensified; other exporters appear to have stepped up marketing efforts, offering favorable
credit terms and export subsidies,
while the appreciation of the dollar
made U.S. products relatively more
expensive. Other exports— a small
but, in recent years, volatile category
that includes reexports of foreign
merchandise
from
the
United
States—declined $0.5 billion (12 perChanges from the first quarter of
1980 to the fourth quarter of 1982 in
the end-use categories of imports were
more diverse than in exports; declines
in some categories were almost offset
by increases in others (chart 10). Petroleum and petroleum products were
down $2.7 billion (34 percent), reflecting both the U.S. recessions and eon-
CHART 10
Merchandise Imports
Billion 1972 $
10
0
1977
1978
1979
1980
1981
Seasonally Adjusted at Annual Rates
U.S. Department of Commerce, Bureau of Economic Analysis
1982
83-3-10
tinuing efforts to conserve energy.
(Because international trade in petroleum is largely denominated in dollars, the dollar's appreciation was not
a factor.) The decline was in part a reponse to continued price increases. In
1979, OPEC initiated the second "oil
price shock/' and the average price
per barrel was run up to $28.06 in the
first quarter of 1980 and to $35.62 in
the second quarter of 1981. Thereafter, with a worldwide glut of oil
adding to competition among producers, prices fell, reaching $30.98 in the
fourth quarter of 1982.
Over 1980-82, petroleum imports
more than accounted for the decline
in total imports. Excluding petroleum,
imports were up $1.4 billion, or 2.0
percent.
Two categories—capital
goods, except autos, and consumer
goods—continued uptrends, but with
interruptions traceable to the U.S. recessions. Capital goods were up $2.2
billion (14 percent) and consumer
38
SURVEY OF CURRENT BUSINESS
goods were up $1.1 billion (7 percent).
In capital goods, electronic equipment
and components and business equipment accounted for most of the increase. In consumer goods, both durable and nondurable goods registered
the interruptions; a strengthening in
nondurables after mid-1981 maintained the uptrend in the total.
The impact of the recessions was
also evident in nonpetroleum industrial supplies and materials. With
sharp drops in early 1980 and in 1982,
this category declined $2.0 billion (11
percent). Iron and steel imports, after
a decline in 1980, increased substantially through the first quarter of
1982, in part reflecting the enhanced
competitiveness in the U.S. market of
European iron and steel following the
dollar's appreciation. Thereafter, imports were slowed by a dispute between the European Communities
and the United States over subsidies.
Three end-use categories showed
considerable quarterly irregularity,
and the impact of general factors is
hard to discern: Autos were down $1.1
billion (10 percent); foods, feeds, and
beverages were up $0.6 billion (9 percent); and other imports—a category
consisting largely of low-value shipments and U.S. goods returned—were
up $0.7 billion (32 percent). The Japanese auto agreements, negotiated to
hold Japanese imports at 1.68 million
units for the year beginning April 1,
1981 and subsequently extended for
another year, influenced both the
level and quarter-to-quarter movements. During 1982, fluctuations in
auto imports from Canada reflected
an increase in shipments of large
cars, in response to a shift in U.S.
demand; the second-quarter opening
of a facility to build engines; and anticipation of a strike in September at
the expiration of a labor agreement.
Factor income.—The $5.2 billion decline in the balance on factor income
from the first quarter of 1980 to the
fourth quarter of 1982 was more than
accounted for by a $5.9 billion decline
in exports, that is, receipts of income
for factor services provided by U.S.
residents (table 4). Within the period,
the pattern of functuations of receipts
and payments was similar, but with
payments better maintained (chart 7).
Within factor income, the decline
was in the balance on corporate profits, down $10.6 billion; the balance on
interest was up $5.4 billion. As a
result of these changes, a shift in the
composition of the factor-income balance, which had been gradual in the
last half of the 1970's, became pronounced. In the first quarter of 1980,
the balance on interest accounted for
28 percent of the total, and by the
fourth quarter of 1982, it accounted
for 57 percent.
The relative strengthening of interest income points to the growing role
of interest rates as one of the general
determinants of the course of factor
income. Levels of economic activity in
the United States and abroad as well
as changes in the value of the dollar
were other general determinants.
Further, developments in the petroleum industry significantly affected
corporate profits and strong increases
in outstanding claims and liabilities
significantly affected interest income*
As noted earlier, the balance on
factor income is the difference between GNP and gross domestic product. This relationship can be used to
obtain an approximate measure of the
effect on the rate of change in GNP of
disproportionate changes in the part
of national production originating in
the rest of the world. As shown in
column 5 of table 3, disproportionate
March 1983
changes in rest-of-the-world production in the fourth quarter of 1980 and
in the first quarter of 1982 reduced
the annual rates of growth of GNP
0.8 and 1.0 percentage points, respectively. In other quarters of 1980-82,
the effect was smaller, sometimes reducing and sometimes increasing the
rate of change in GNP. From the first
quarter of 1980 to the fourth quarter
of 1982, rest-of-the-world product increased the average annual rate of decline in GNP by approximately 0.1
percentage point.
In corporate profits, the decline in
the balance from the first quarter of
1980 to the fourth quarter of 1982 was
more than accounted for by a $12.7
billion decline in receipts (chart 11),
Receipts were halved: From a high in
late 1979 and in the first quarter of
1980 of almost $26 billion, they declined, with few interruptions, to
$13.2 billion in the fourth quarter of
1982. The decline was in large part
due to the slowing of economic activity, especially in 1980 and 1982, in
countries where foreign affiliates are
located. Petroleum affiliates, which
account for about one-third of total
receipts, were particularly hard hit.
The decline in receipts from these af-
Table 4.—Factor Income in Constant Dollars
[Billions of 1972 dollars; seasonally adjusted at annual rates]
Factor income, total
Exports
Imports
Balance
17.1
17.0
17.5
16.0
23.0
23.5
24.1
23.2
5.9
6.4
6.6
7.2
11.3
11.1
11.5
9.8
14.0
14.1
14.6
13.0
20.1
17.6
19.6
22.2
27.3
26.4
28.9
32.8
7.2
8.8
9.3
10.6
13.6
11.2
12.9
15.2
23.3
25.1
28.5
28.3
34.8
37.9
42.7
44.5
11.5
12.9
14.2
16.3
28.6
26.8
25.7
23.4
46.6
43.3
39.6
40.9
25.0
24.4
25.4
26.7
Balance
1977- I
II
Ill
,
. . .
rv
„
1978- I
II... ,
HI
IV ..
,
... .
1979- I
II
HI
IV
1980- I
II
HI
IV
1981- I
II
HI
...
.........
„
,
rv
1982: I
II
Ill
,
rv...
Addendum: Change, 1980: I to
1982- IV
Interest 1
Corporate profits
Exports
Balance
Exports
2.7
3.1
3.1
3.2
5.8
5.9
6.0
6.2
9.0
9.4
9.5
10.2
3.2
3.3
3.5
4.0
16.5
15.3
17.1
19.2
2.9
4.1
4.1
4.0
6.5
6.4
6.7
7.0
10.8
11.1
11.8
13.6
4.3
4.7
5.2
6.6
15.5
18.1
21.3
20.7
19.6
22.8
26.1
25.3
4.2
.4.7
4.8
4.6
7.8
7.0
7.2
7.6
15.2
15.1
16.6
19.2
7.3
8.2
9.4
11.7
18.0
16.5
13.9
17.5
20.6
18.2
16.6
13.6
25.9
22.9
21.3
18.3
5.3
4.8
4.8
4.7
8.0
8.6
9.1
9.8
20.7
20.4
18.3
22.6
12.7
11.7
9.1
12.8
43.1
44.0
45.9
44.8
18.1
19.6
20.4
18.1
12.6
10.9
10.7
12.9
16.8
15.8
15.9
17.1
4.1
4.9
5.1
4.3
12.4
13.5
14.7
13.8
26.3
28.2
30.0
27.7
14.0
14.7
15.3
13.8
22.7
24.2
22.5
23.4
42.5
45.9
42.7
40.7
19.8
21.7
20.2
17.3
8.4
8.9
7.9
10.0
12.2
12.8
11.9
13.2
3.9
3.9
4.1
3.2
14.3
15.3
14.6
13.4
30.3
33.1
30.8
27.5
15.9
17.8
16.1
14.1
52
5.9
7
106
127
5.4
6.8
1.4
Imports
-2.1
Imports
1. Contains a small amount of compensation of employees.
NOTE.—Estimates of total factor income are from table 4.2 of the National Income and Product Accounts Tables. Estimates of
corporate profits are derived by dividing rest-of-the-world corporate profits, from table 6.20B of the National Income and Product
Accounts Tables, and exports and imports separately, from unpublished data, by the implicit price deflator for net domestic
product. (That deflator can be found as the implicit price deflator for factor income in table 7.16 of the National Income and
Product Accounts Tables; that shown for exports was used in the calculations.) Estimates of interest are derived as total factor
income less corporate profits.
SURVEY OF CURRENT BUSINESS
March 1983
CHART 11
Factor Income, Receipts
and Payments
Billion 1972 $
30
CORPORATE PROFITS'
20
10
0 I I i I :l J 1 t i l f t I I j. t 1 { i I'.I....I.... I
40
" INTEREST
30
20
10
1977
1978
1979
1980
1981
1982
Seasonally Adjusted at Anual Rates
Note.—Interest is derived as total factor income less corporate profits.
U.S. Department of Commerce, Bureau of Economic Analysis
33-3-11
filiates started from a high level in
early 1980, when they were benefitting from the run-up in petroleum
prices initiated by OPEC in 1979, and
was large during 1980. After stabilization in 1981, a further weakening in
1982 reflected the softness in petroleum prices that was related to the oil
glut.
Appreciation of the dollar also contributed to the decline in total receipts. Dollar appreciation has an
effect on affiliate profits because
earnings abroad, which, in general,
firms calculate initially in foreign
currencies, are reported to BEA in
dollars. Thus, dollar appreciation
against the currency of a country
where the earnings originate generally lowers the dollar measure. This
effect is a kind of capital gain (loss).
Capital gains (losses) are definitionally excluded from NIPA measures and,
as noted earlier, the reconciliation between the BPA's and the NIPA's includes an item to remove capital
gains (losses) from income of foreign
affiliates. Most gains (losses) of this
kind are excluded from affiliate
income by the reconciliation item, but
a small part—those that cannot be
separated statistically—remain. They
may have significantly affected receipts from foreign affiliates over the
1980-82 period because of the sizable
dollar appreciation. Finally, in 1980,
receipts reflected a decline following a
one-year jump caused by a change in
the United Kingdom in the tax treatment of inventory profits.
Payments of corporate profits declined $2.1 billion, from $5.3 billion in
the first quarter of 1980 to $3.2 billion
in the fourth quarter of 1982. Within
this period, payments fell initially in
response to the 1980 recession, recovered by mid-1981, and then fell in response to the 1981-82 recession. The
gradual decontrol of U.S. petroleum
prices beginning in the third quarter
of 1979 and the OPEC price hikes bolstered earnings of petroleum affiliates
in 1980 and, to a smaller extent, in
1981; payments by these affiliates are
roughly one-third of total payments.
In interest, as noted earlier, the
balance was up $5.4 billion from the
first quarter of 1980 to the fourth
quarter of 1982. Within the period,
the balance grew steadily from $8.0
billion to $15.3 billion in the second
quarter of 1982, then fell to $13.4 billion. The growth occurred as, during
the quarterly fluctuations in which
receipts and payments paralleled each
other, receipts usually increased more
and fell less (chart 11). The fluctuations follow closely the pattern of interest rates. This point is brought out
by reference to chart 12, which shows
the rate on U.S. 90-day certificates of
deposit. This rate can serve as a representative rate for tracing fluctuations in yields because short-term,
rather than long-term, instruments
make up the preponderant share of
both claims and liabilities, and because dollar-denominated instruments
make up the preponderant share of
both.
In addition to affecting fluctuations
in interest receipts and payments, interest rates also affected their levels.
The climb in interest rates to record
highs in mid-1981—to 17% percent
(quarterly average) on the U.S. 90-day
certificates of deposit—gave them an
upward tilt. The level of outstanding
39
CHART 12
U.S. 90-Day Certificates
of Deposit
Percent
20 [7—
15
10
1977
1978
1979
1980
1981
Data: Federal Reserve Board.
U.S. Department of Commerce, Bureau of Economic Analysis
1982
33-3-12
claims and liabilities also affected
both the fluctuations and level, and
contributed to the faster growth of receipts than payments. Both U.S. bank
claims on and liabilities to foreigners—but especially the former—increased strongly almost throughout
the period. Beginning in the fourth
quarter of 1981, both were affected by
the establishment of International
Banking Facilities (IBF's). IBF's,
which (as authorized by the Board of
Governors, of the Federal Reserve
System) are exempt from reserve requirements and interest rate ceilings,
conduct only international banking
such as receiving foreign deposits and
making foreign loans. As they were
being established, shifts of claims and
liabilities to the United States from
foreign branches took place, and
banking operations, which previously
had taken place offshore, were handled by IBF's, adding significantly to
the outstanding positions in claims
and liabilities.
Other services.—The balance on
other services was up $1.2 billion
from the first quarter of 1980 to the
fourth quarter of 1982, to $6.5 billion
(table 1). The increase was almost all
in exports, which fluctuated moderately around an uptrend, reaching
$24.8 billion; imports fluctuated somewhat less around an $18 billion dollar
level (chart 7).
Because deflation of the several heterogenous components that make up
other services is carried out in detail
40
SURVEY OF CURRENT BUSINESS
Table 5.—Other Services in Constant Dollars
[Billions of 1972 dollars]
Total
U.S.
Government
transactions *
Travel
expenditures
Passenger fares
Other
transportation
Other
Exports
1977
1978
1979
21.5
22.6
22.3
5.4
5.2
3.9
4.4
4.7
5.0
1.0
1.2
1.6
4.8
5.1
5.7
5.9
6.4
6.2
1980
1981
1982
23.5
24.2
24.8
4.1
4.4
n.a.
5.3
5.8
n.a.
1.7
1.8
n.a.
5.6
5.7
n.a.
6.7
6.5
n.a.
1977
1978
1979
17.2
18.3
18.3
3.9
4.3
4.3
4.8
4.9
4.8
2.0
2.2
2.3
4.9
5.1
5.1
1.6
1.8
1.9
17.6
18.3
18.0
4.3
4.7
n.a.
4.8
4.8
n.a.
2.2
2.6
n.a.
4.4
4.4
n.a.
1.9
1.8
n.a.
Imports
1980
1981
1982
.
.
.....
... .
n.a. Not available.
1. For exports, transfers under U.S. military agency sales contracts plus U.S. Government receipts for miscellaneous services.
For imports, direct defense expenditures abroad plus U.S. Government payments for miscellaneous services.
only for annual estimates, with 1982 shown a sizable decline in 1982 (curestimates not yet available, and be- rent-dollar estimates are down 6 percause changes in most of the compo- cent). A sharp drop in receipts from
nents are usually small over short Mexico, an effect of the devaluation of
time spans such as that being ana- the peso, was a major factor in conlyzed in this article, it is not possible tributing to the 1982 decline. (3) Pasto discuss other services in a manner senger fare receipts also moved up
comparable to other components of through 1981. They tend to parallel
travel expenditures, reflecting the
net exports.
A few points may be made, however same general factors. (4) Other trans(table 5). For exports: (1) U.S. Govern- portation changed little. These rement transactions appear somewhat ceipts tend to move with merchandise
erratic, and changes are often trace- trade—freight receipts with the
able to special occurrences. The 1981 volume of exports and port charges
increase was concentrated in aircraft with the volume of imports. After
deliveries to Israel, Saudi Arabia, little change in 1980-81, they probJapan, and NATO countries. In 1982, ably declined in 1982.
For imports: (1) U.S. Government
a sizable increase probably occurred,
reflecting stepped-up deliveries of transactions were up in 1981 and
equipment to the Middle East, NATO, probably in 1982, mainly due to
and Latin America. (2) Travel receipts higher off-base expenditures by miliare affected by exchange rates (those tary personnel and purchases of
assumed to prevail for purposes of equipment. (2) Travel expenditures
planning and those actually prevail- were unchanged. The effects of deing at the time of travel), which pressed economic activity and higher
tended to make travel in the United airfares appear to have offset the efStates by foreigners increasingly ex- fects of the dollar's appreciation and,
pensive, and by levels of economic ac- for most of the period, the stimulus to
tivity, which were depressed in most visit Canada and Mexico provided by
areas from which visitors are drawn.9 the lower gasoline prices there than
Nevertheless, receipts were up in in the United States. (3) Passenger
1980 and 1981, but are likely to have fares, after an increase in 1981, probably changed little in 1982. (4) Other
transportation payments reflected the
converse of the factors affecting re9. Travel expenditures and passenger fares are reviewed intensively in the BPA context in articles that
ceipts. In 1982, with both imports and
appear annually in the SURVEY. See, for example, "Inexports down, a decline probably octernational Travel and Passenger Fares, 1981,"
curred.
SURVEY 62 (June 1982): 32-35 and 72.
March 1983
Supplementary measures
Two supplementary measures of net
exports are presented in what follows.
The first is the measure of net exports associated with command GNP,
which takes into account the effect of
changes in the relationship between
export and import prices. The second
is net exports calculated using 1981,
rather than 1972, as the valuation
period.
Command net exports.—Constantdollar net exports are derived by subtracting constant-dollar total imports
from constant-dollar total exports. If,
instead, current-dollar net exports are
divided by an appropriate price index,
the resulting measure is the excess
(+ or —), in 1972 dollars, of the quantity of foreign goods and services a
country can purchase from the proceeds of its exports over the quantity
of those exports.
Such a net export series, calculated
using the implicit price deflator for
imports as the price index with which
to divide current-dollar GNP, is
shown in the lower panel of chart 13
labeled "command" net exports. (See
also table 2 in the Reconciliation and
Other Special Tables, on page 18 of
this issue.) It is labeled "command"
because it is one of a family of
series—counterparts of the conventional production series—that measures the command over goods and
services resulting from current production.10 As shown in the chart, this
series did not plummet over the 198082 period, as did the conventional net
export series, labeled "GNP" net exports. Instead, from an irregular plateau in the $4 to $8 billion range in
1979 and the first quarter of 1980, the
command series moved to a higher, irregular plateau in the $8 to $13 billion range that lasted through the
second quarter of 1982, dropping substantially only in the third quarter, to
$2.4 billion, and changing little in the
fourth.
The source of the difference between the command and GNP series
10. The command series were introduced by Edward
F. Denison in, "International Transactions in Measures of the Nation's Production," SURVEY 61 (May
1981): 17-22.
March 1983
SURVEY OF CURRENT BUSINESS
miimismiimmwmmmm. CHART 13
Terms of Trade and Net Exports
of Goods and Services
Index (1972= 100)
90
TERMS OF TRADE
80
70 I t I I I } I I I ] .1 .1 I I I l 1 i' i i I' t i i
Billion 1972 $
-10
1977
1978
1979
1980
1981
1982
Seasonally Adjusted at Annual Rates
U.S. Department oi Commerce, Bureau of Economic Analysis
83-3-13
for net exports can be traced in the
upper panel of chart 13. It shows the
terms of trade, measured as the ratio
of the implicit price deflator for exports to that for imports and indexed
to 1972. After declining in 1979 and
the first quarter of 1980, the index increased over the next two years from
72.2 to 85.0 in the second quarter of
1982, and then slipped to about 83.0.
The improvement occurred as the
import deflator, which had been
rising more rapidly than the export
deflator, rose less rapidly through the
first quarter of 1981, and then declined through the second quarter of
1982. Through that quarter, the improvement was about 17 percent; if
401-010 0 - 8 3 - 4
petroleum prices, rather than following their actual course, had followed
the course of other import prices, the
improvement would have been roughly three-fifths as much. The weakening in the terms of trade from the
second quarter was more than accounted for by petroleum.
Recent valuation period.—For the
constant-dollar estimates referred to
so far, 1972 is the valuation period.
BEA plans to supplement its regular
constant-dollar estimates by approximating
constant-dollar
estimates
valued in dollars of a recent year. The
project has not yet been completed,
but some preliminary calculations
suggest the impact on the estimates
of net exports of moving forward the
valuation period to 1981. The impact
on net exports could be expected to be
of particular interest because of the
large changes since 1972 in the prices
and quantities of some components of
exports and imports.
The average annual rates of change
from the first quarter of 1980 to the
fourth quarter of 1982 in table 6 show
that imports on the 1981 valuation
base declined much more than on the
1972 valuation base—3.6 percent compared with 0.1 percent—and exports
on the 1981 base declined only slightly more—7.0 percent compared with
6.8 percent. Within imports, petroleum, which has a larger relative importance in imports on the 1981 base,
fell by over 14 percent.
As noted earlier, gross national
product differs from gross domestic
purchases in that the product measure includes exports and excludes imports but the purchases measure includes imports and excludes exports.
Accordingly, a comparison of their
average annual rates of change on the
two valuation bases can be used to
quantify for net exports the effect of
moving forward the valuation period.
In 1972 dollars, for the period from
the first quarter of 1980 to the fourth
quarter of 1982, product declined at a
rate of 0.5 percent and purchases increased at a rate of 0.2 percent. Thus,
the decline in net exports reduced the
average annual rate of change of
product 0.7 percentage point relative
to that of purchases. In 1981 dollars,
41
Table 6.—Average Annual Rates of Change in
Selected Measures, 1980:1 to 1982: IV
[Percent; based on constant dollars at seasonally adjusted
annual rates]
Valuation period
1972
Exports
Imports
...
Gross national product
Gross domestic purchases
Implicit price deflator, exports
Implicit price deflator, imports
Addendum: Terms of trade—percent change not at annual rate..
1981*
Differ-
1981
less
1972
-6.8
—1
-7.0
-3.6
-0.2
35
5
2
6
-.2
1
-4
5.6
.4
5.8
3.6
.2
3.2
17.0
5.9
-11.1
'Approximations.
product and purchases declined at
rates of 0.6 percent and 0.2 percent,
respectively. Thus, in these dollars,
the decline in net exports reduced the
average annual rate of change of
product 0.4 percentage points relative
to that of purchases. The 0.3 percentage point difference in the amount by
which net exports reduced the rate of
change of product relative to purchases on the 1972 and 1981 valuation
bases is the effect of moving forward
the valuation period for net exports.
Because moving the valuation period
had little effect on the average
annual rate of decline in exports and
because the relative importance of exports in GNP increased only slightly
from 1972 to 1981, it follows that most
of the effect is due to imports—specifically, the larger decline in imports
in 1981 dollars. The relative importance of imports in GNP increased
substantially from 1972 to 1981.
The implicit price deflator for imports shows a much larger average
annual rate of increase on the 1981
base than on the 1972 base and that
for exports shows a similar rate of increase on both bases. With reasoning
similar to that just used, the smaller
increase in the terms of trade (from
the first quarter of 1980 to the fourth
quarter of 1982) on the 1981 base than
on the 1972 base—5.9 percent (not an
average annual rate) compared to
17.0—is the effect on the terms of
trade of moving forward the valuation
period.
By CHRISTOPHER L. BACH
U.S. International Transactions,
Fourth Quarter and Year 1982
Fourth Quarter 1982
THE current-account deficit increased
to $6.1 billion in the fourth quarter
from $5.3 billion in the third. A larger
decline in receipts than in payments
of income on portfolio investment and
a step-up in unilateral transfers more
than accounted for the increase.
Partly offsetting was an increase in
receipts of income on U.S. direct investment abroad.
Declining interest rates, combined
with a slower increase in U.S. bankreported claims and liabilities, sharply lowered income receipts and, to a
lesser extent, payments on portfolio
investment. The increase in unilateral transfers was in U.S. Government
grants.
The merchandise trade deficit decreased to $12.1 billion from $12.5 billion. Imports decreased $4.6 billion, or
7 percent, to $60.2 billion. Exports decreased $4.3 billion, or 8 percent, to
$48.1 billion. Most of the decrease in
imports—$4.0 billion—was in nonpetroleum imports, nearly all in volume.
This decrease was the first since the
first quarter of the year. Most of the
decrease in exports—$3.7 billion—was
in nonagricultural exports; volume
declines more than accounted for the
decrease.
U.S. assets abroad increased $23.6
billion, compared with a $25.6 billion
increase. U.S. official reserve assets
increased $1.9 billion, over one-half of
which resulted from net acquisitions
CHART 14
Selected Balances on U.S.
International Transactions
Billion $
The Statistical Discrepancy in the International Transactions Accounts
The statistical discrepancy—errors and
omissions is reported transactions—was
a record inflow of almost $42 billion in
1982, uncomfortably large by any standard. Indeed, over the 1980-82 period, the
discrepancy registered a cumulative
inflow of more than $96 billion.
Such unusually large unrecorded flows
probably reflect a number of factors: the
international demand for dollars to acquire dollar-dominated assets, which
both resulted from and added to the attractiveness of the United States as a
"haven" for foreign funds and to the
strength of the dollar in exchange markets; very high real interest rates in the
United States; and a myriad of financial,
economic, and political problems—actual
and potential—in both the developing
and industrial countries. Also, statistical
reporting procedures have not kept pace
with the numerous recent innovations in
U.S. financial markets. As a result, some
instruments and participants have not
been adequately covered or not covered
at all by the statistics. An interagency
group, in cooperation with financial
market participants, is working to improve reporting procedures.
The very large unrecorded inflows in
recent years should be included in any
meaningful analysis of U.S. international
transactions. For instance, the inflow in
1982 can be compared with some net recorded flows. Combining the balance on
current account—a deficit of $8.1 billion—with that for net recorded private
capital flows—an outflow of $26.1 billion—results in an outflow of $34.2 billion, $7.7 billion less than the $41.9 billion unrecorded inflow. For the 1980-82
period, the cumulative balance on current account was a deficit of $2.1 billion,
that for net recorded private capital
flows was an outflow of $85.6 billion, for
a combined $87.7 billion outflow. Cumulative unrecorded inflows for the same
period were $96.5 billion.
Although efforts to identify sources of
errors and omissions will continue, it is
unrealistic to expect the discrepancy to
be reduced dramatically or to disappear
in short order. Even if the dollar should
depreciate somewhat in exchange markets in the period ahead, net unrecorded
inflows—probably largely in the capital
accounts—are likely to persist in a global
environment of continued financial, economic, and political uncertainties.
Jack Bame
1980
1981
1982
Seasonally Adjusted
U.S. Department of Commerce, Bureau of Economic Analysis
42
March 1983
43
SURVEY OF CURRENT BUSINESS
Table A.—Summary of U.S. International Transactions
[Millions of dollars, seasonally adjusted]
Lines in tables 1, 2, and 10 in which transactions are
included are indicated in ( )
Change:
1981-82
1 Exports of goods and services (1)
Change:
1982
1981
I
1QQO TTT
III
II
IV
lr
11 r
III'
IV P
IV
372 892
236 254
136,638
350 088
211 013
139,075
22 804
25241
2,437
93280
60683
32,597
94389
60284
34,105
92965
57 694
35,271
92259
57593
34,666
90014
55 607
34,407
91088
55 001
36,087
87132
52334
34,798
81855
48071
33,784
-5,277
4263
-1,014
361 813
264 143
97 670
350 313
—247,344
102 969
11 500
16,799
5299
88613
-64,995
23 618
—91480
- 66,831
-24 649
90,406
-65,539
24867
91316
-66778
24 538
86932
61545
25387
87160
-60,763
26 397
90 697
-64,829
25868
85527
-60,207
25320
5170
4,622
548
4504
2 104
5413
2455
909
351
960
462
986
524
1250
558
1308
562
1473
575
1069
671
1823
?
608
—775
7
9 U.S. assets abroad, net (increase/capital outflow (— )) (37).,. -109,294
10
U.S. official reserve assets net (38).
5175
11
U.S. Government assets, other than official reserve
assets, net (43)
....
.
5137
12
U S private assets net (47)
-98982
-118,265
4,965
-8,971
210
-22,796
4529
-21,566
905
-17,257
4
-47,677
262
-31,257
1089
-37,845
1 132
-25,597
794
5,766
107 535
629
8553
1375
16892
-1518
19143
1257
15996
987
46952
904
29264
1547
35 166
2496
22 307
818
20800
1678
1 507
2
3
Merchandise excluding military (2)
Other goods and services (3-15)
.,
4 Imports of goods and services (17)
5
Merchandise, excluding military (18)...
6
Other goods and services (19 31)
.
7 U.S. Government grants (excluding military grants of
goods and services) (34)
g Remittances pensions and other transfers (35 36)
1 048
601
-23,567
1 950
-2,030
1 156
14
15
13 Foreign assets in the United States, net (increase/capital
inflow (+)) (56)
Foreign official assets, net (57)
Other foreign assets net (64)
77 921
4785
73136
84494
3,043
81451
6573
1742
8315
8470
5361
3109
13 464
2 861
16324
16880
5835
22 715
39 107
8 119
30988
25080
3*122
28202
29 619
1 998
27 621
16 672
2494
14 178
13 123
1 673
11 451
3 549
821
2727
16 Allocations of special drawing rights (74)
17 Statistical discrepancy (75)
1093
25809
41 864
1093
16055
1093
9988
6703
374
9 497
5 142
6038
14 139
16 546
2 407
'Revised.
p
Preliminary.
of foreign currencies. Although
German mark balances declined as a
result of the redemption of U.S.
Treasury mark-denominated notes,
net holdings of Mexican pesos and of
Brazilian cruzerios increased substantially as these countries drew on
credit lines provided through both existing and special reciprocal currency
arrangements. U.S. bank-reported
claims on foreigners—which increased
$16.7 billion, compared with $20.4 billion—reflected some decline in credit
demands in both industrial and developing countries, and uncertainty
about the ability of several private
and government borrowers in developing countries to repay maturing
short-term debts in the immediate
future. Some outflows in December
were related to substantial inflows to
new deposit-type bank accounts out of
money market mutual funds and the
desire of banks to place funds from
these accounts in higher yielding Eurodollar deposits at foreign branches.
Net U.S. purchases of foreign securities were $3.5 billion, up slightly from
$3.3 billion. A decline in foreign new
security issues in the United States,
which occurred despite the decline in
interest rates, was more than offset
by increased U.S. purchases of foreign
stocks, which occurred as stock prices
in all major foreign markets rose substantially, and increased purchases of
outstanding bonds. Net capital outflows for U.S. direct investment
abroad were $0.6 billion, following
$0.5 billion in inflows in the third
quarter. Dollar inflows from U.S.
direct investors' borrowing through
Netherlands Antilles finance affiliates
dropped to $1.8 billion from $2.2 billion. Reinvested earnings were $3.4
billion, compared with $1.5 billion.
Foreign assets in the United States
increased $13.1 billion, following a
$16.7 billion increase. Increases in foreign official assets slowed to $1.7 billion, reflecting the easing of pressures
on foreign currencies in the exchange
markets as the dollar depreciated in
November and December. Unusual of-
Table B.—Selected Transactions With Official Agencies
[Millions of dollars]
T •
1QQ1
1QQO p
Change:
1981-82
1981
I
II
Change:
1982
III
IV
I
II r
1 Qft9 TTT
III'
IV »
IV
Changes in foreign official assets in the U.S., net (decrease
) (line 57 table 1) .
Industrial countries 1
•..
Members of OPEC 2
.
Other countries
4,785
12216
13,314
3687
3,043
6,472
7,176
2339
— 1,742
5744
6138
— 1348
5,361
285
5364
288
-2,861
—6,682
2786
1035
5,835
8,296
2935
474
8119
2477
2230
3412
3122
6762
4988
1 348
1998
1 939
3079
858
2494
1948
350
196
1673
281
1241
2633
-821
1,667
1591
2,437
5 Changes in U.S. official reserve assets (increase — ) (line 38,
table 1 )
......
. . . .
5,175
-4,965
210
—4529
-905
4
262
1089
1 132
794
1950
1 156
2,094
6189
4095
2,094
5989
3895
200
200
-200
200
200
200
800
600
632
2482
1850
1261
2907
1 646
629
425
204
1
2
3
4
Activity under U.S. official reciprocal currency arrangements with foreign monetary authorities: 3
g
6a
6b
U S drawings or repayments ( ) net
Drawings
Repayments
. . . . . .
7
7a
7b
Foreign drawings or repayments (— ) net.. ..... .. . ,
Drawings
...
200
'Revised.
" Preliminary.
1. Western Europe, Canada, Japan, Australia, New Zealand, and South Africa.
2. Based on data for Ecuador, Venezuela, Indonesia, and other Asian and African oil-exporting countries.
3. Consists of transactions of the Federal Reserve System and the U.S. Treasury Department's Exchange Stabilization Fund.
SURVEY OF CURRENT BUSINESS
44
ficial inflows from Australia and Singapore bosted increases from industrial and non-OPEC developing countries, respectively; holdings of OPEC
members decreased. U.S. bank-reported liabilities to private foreigners and
international financial institutions increased $6.5 billion, down from a
$12.0 billion increase, as U.S. interest
rates decreased. Foreign purchases of
U.S. securities other than U.S. Treasury securities increased to $1.9 billion
from $0.2 billion. Foreign purchases
of U.S. stocks in December accounted
for most of the rise. Capital inflows
for foreign direct investment in the
United States were $3.0 billion, up
from $2.4 billion; equity and intercompany inflows and reinvested earnings both increased.
After appreciating further in October, the dollar gave up some of its
earlier gains in November and December, when it depreciated 3 to 12
percent against most major foreign
currencies. With the rapid drop in
U.S. interest rates, U.S. rates were
only slightly above key rates in Germany and Japan and funds moved to
those countries. Dollar depreciation
was largest, nearly 12 percent,
against the Japanese yen; the yen
benefited partly from capital flows
into the Japanese stock market.
The Year 1982
U.S. dollar in exchange markets
U.S. interest rates remained on a
high plateau during the first half of
1982. With foreign rates declining
sharply, interest differentials were
March 1983
CHART 15
Indexes of Foreign Currency Price of the U.S. Dollar (1977 = 100)
130
120 -
110 -
100 —
80
1979
1980
1981
1982
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. End-of-month rates, index rebased by BEA.
2. Belgium, Canada, France, Germany, Italy, Japan, the Netherlands, Sweden, Switzerland, United Kingdom.
Data: Federal Reserve Board. Monthly average rates, index rebased by BEA.
U.S. Department of Commerce, Bureau of Economic Analysis
strongly in favor of the dollar and inflows into all types of dollar-denominated assets remained large. Conflict
in the Falkland Islands in April and
growing international financial problems further encouraged capital flows
to the United States. Consequently,
the dollar appreciated between 8 and
15 percent against most major currencies through June.
Several other factors contributed to
the dollar's strength. Inflationary
pressures in the United States continued to abate and the U.S. current account remained in surplus, in contrast to some deterioration early in
the year of both Germany's and
Japan's current-account positions. Political instability in Eastern Europe,
open hostilities in Lebanon, and the
conflict between Iran and Iraq also
contributed.
Although short-term U.S. interest
rates fell more than 5 percentage
points and interest differentials in
favor of the dollar narrowed rapidly
in July-October, the dollar continued
to rise to record highs against many
currencies. At the end of October, the
dollar was 12 to 25 percent above December levels against most major currencies, with the exception of the Canadian dollar. Concern over the international financial situation, particu-
Table C.—Indexes of Foreign Currency Price of the U.S. Dollar
[1977=100]
1981
rv
Trade-weighted average against 22 OECD currencies1
Trade-weighted average against 10 currencies2
Selected currencies:3
Canada
.
. ..
United Kingdom
European Monetary System currencies:
Belgium
France..
,
Germany
.. ..
Italy
Netherlands
Switzerland
Japan.. .
1982
1982
I
II
in
IV
Jan.
Feb.
Mar.
April
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
1077
101.9
1148
106.4
1189
110.3
1242
115.9
1249
118.3
1106
103.5
115.7
106.8
1180
108.8
115.4
110.4
1174
107.4
1237
113.2
123.0
115.1
123.9
115.8
125.8
117.0
127.5
119,2
1254
120.2
121.8
115.4
112.2
926
113.9
944
117.2
980
117.7
1010
116.0
1058
112.3
924
114.3
94.4
114.9
96.6
115.3
98.4
116.2
963
120.1
992
119.6
100.4
117.3
101,0
116.3
101.8
115.9
102.8
115.5
106.8
116.6
107.9
1054
115.0
96.7
1352
100.5
761
83.5
1158
121.9
101.0
1431
104.9
78.0
86.9
125.7
127.7
102.4
1488
107.4
83.1
90.8
132.7
141.3
106.9
1582
111.2
88.1
96.5
135.8
143.9
107.6
1624
111.5
89.2
96.5
108.9
118.5
98.7
1395
102.4
76.8
83.6
114.8
122.3
101.8
143.0
105.6
78.7
87.5
123.8
124.9
102.4
146.8
106.6
78.6
89.6
126.4
127.0
103.1
148.7
108.3
81.7
90.7
121.8
122.5
99.5
1449
104.7
81.2
88.1
128.9
133.8
104.5
1527
109.3
86.5
93.4
131.1
139.4
106.1
1567
110.9
87.2
95.0
132.3
140.9
106.7
1589
111.1
87.9
96.4
134.7
143.7
107.8
1589
111.7
89.2
98.2
136.9
145.5
108.9
1635
112.4
90.5
101.2
138.3
146.7
109.9
165.9
113.4
91.3
98.2
132.4
139.4
104.1
157.8
108.7
85.7
90.1
1. Australia, Austria, Belguim-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. End-of-month rates. Index rebased by BEA.
2. Belgium, Canada, France, Germany, Italy, Japan, the Netherlands, Sweden, Switzerland, United Kingdom. Data: Federal Reserve Board. Monthly average rates. Index rebased by BEA.
3. Data: Federal Reserve Board. Monthly average rates. Indexes rebased by BEA.
45
SURVEY OF CURRENT BUSINESS
March 1983
CHART 17
CHART 16
Indexes of Industrial Production
(1975 = 100)
150
Merchandise Trade: Export and Import Volume and Prices
Billion 1972 $
95
140
120
IMPLICIT PRICE DEFLATORS
(197&3>?= 100}
110
100
1979
1980
1981
Seasonally Adjusted
Data: Federal Reserve Board; OECD.
U.S. Department of Commerce, Bureau of Economic Analysis
larly the external debt of Poland, Argentina, Mexico, and Brazil, encouraged continued dollar inflows, many
of them apparently unrecorded.
In November and December the
dollar gave up some of its gains from
the past 2% years, depreciating 3 to 12
percent against most major currencies. Some key interest differentials
were only slightly in favor of the
dollar. Also, international financial
concerns lessened somewhat, as
Mexico and other countries negotiated balance-of-payments adjustment
programs with the International Monetary Fund (IMF) and restructured financing requirements with commercial banks.
Merchandise trade
The U.S. merchandise trade deficit
was $36.3 billion in 1982, compared
with a deficit of $27.9 billion in 1981.
A sharper decrease in exports than in
imports accounted for the increase.
Exports decreased $25.2 billion, or 11
percent, to $211.1 billion; volume decreased 12 percent. Both agricultural
and nonagricultural exports de-
110 -
100
1979
1980
1981
1982
Note.—Shaded areas indicate recessions.
U.S. Department of Commerce, Bureau of Economic Analysis
creased. Imports decreased $16.8 billion, or 6 percent, to $246.1 billion;
volume decreased 1 percent. The decrease in imports was nearly all in petroleum products.
Real U.S. merchandise exports decreased over 15 percent during the
current U.S. recession. Much of the
decrease can be attributed to recession in other major countries during
the past 3 years (chart 16). Other factors were the 36-percent dollar appreciation against 22 OECD currencies
since the third quarter of 1980 and
the 19-percent rise in prices of goods
produced for export over the past 3
years, as measured by the implicit
price deflator for nonagricultural exports (chart 17). (Prices in other key
trading-partner countries increased at
about the same or a slower rate.) The
decrease in U.S. export volume contributed to the U.S. recession, as indicated by the marked reduction in the
percentage of U.S. goods production
that is exported. In contrast, in the
previous four recessions, sustained
foreign demand for U.S. goods increased the percentage of U.S. goods
production exported, mitigating the
severity of U.S. recessions.
Real U.S. merchandise imports
have remained about constant during
the current U.S. recession. Although
domestic demand has weakened,
import volume has been relatively
strong, partly because, given the dollar's appreciation, the implicit price
deflator for nonpetroleum imports
was virtually flat over the past 3
years in contrast to an 18-percent rise
in domestic prices (chart 17). Slack
economic conditions also caused softness in commodity prices in major
world markets and may have led to
more aggressive selling of some exports to the United States. In the previous four recessions, imports fell at
46
SURVEY OF CURRENT BUSINESS
least proportionately with the decline
in domestic demand.
U.S. nonagricultural exports decreased $18.4 billion to $173.6 billion
in 1982; volume decreased 13 percent.
All major commodity categories decreased. The largest decreases were in
industrial supplies and materials and
in capital goods (table D). The decrease in industrial supplies had
begun in the third quarter of 1980, as
U.S. inflation and recession abroad
began to slow these exports; dollar appreciation was a contributing factor
in 1981-82. In 1982, exports of metallurgical coal, iron and steel products,
and metals and metal products all declined sharply from levels in the first
half of the year or from 1981.
Lumber, wood, and paper products
and chemicals declined only moderately. In capital goods, the decrease
had begun in the second quarter of
1981. About one-half the decrease in
1982 was in civilian aircraft, which
was adversely affected by high financing costs. The other one-half was due
to declines in many components of
nonelectrical machinery, as shown in
the accompanying tabulation. Some
components—for example drilling and
oil field equipment—showed modest
growth for the year, but fell sharply
after midyear. Other components
were severely affected by economic
conditions and the strong dollar
throughout the year.
Billions of dollars
1981
Drilling and oilfield equipment
Computers and parts
Broadcasting and communica —
tions equipment
Excavating and paving equip —
ment
Nonfarm tractors ...
.. .....
Machine tools
Materials handling equipment...
Agricu Itural machinery
1982
Percent
change
20
6
4.5
8.8
5.4
9.3
5.7
6.0
4
3.3
3.0
2.1
1.7
2.2
2.2
2.0
1.6
1.3
1.8
-34
-33
-24
-23
-20
Agricultural exports decreased $6.8
billion to $37.4 billion; volume decreased 5 percent. The decrease in
volume was concentrated in corn and
wheat, which fell 11 and 6 percent, respectively; soybean volume increased
17 percent, cotton 12 percent. Average
prices of these crops declined between
11 and 22 percent. Record world supplies of major commodities and weakening demand intensified price competition among world producers. The
decline in total volume was due
almost entirely to reduced shipments
to Eastern Europe, excluding the
March 1983
Table D.—Merchandise Trade, Current and Constant (1972) Dollars
[Balance of payments basis, millions of dollars]
Current dollars
Constant (1972) dollars
Annual
1980
Exports
.. ..
Agricultural
Nonagricultural
II
III
IV
224,237
42,156
182,081
,
I
54,752
10,159
44,593
55,843
10,159
45,684
55,786
10,706
45,080
57,856
11,132
46,724
I
II
III
rv
89,465
18,063
71,402
22,578
4,440
18,138
22 922
4,620
18,302
22,082
4,593
17,489
21,883
4,410
17,473
Annual
1981
Exports . . .
.....
Agricultural
Nonagricultural ,
..... ....
236,254
44,264
191,990
60,683
12,575
48,108
60,284
11,151
49,133
57,694
9,947
47,747
57,593
10,591
47,002
86,390
18,047
68,343
22,489
4,824
17,665
22,082
4,404
17,678
21,006
4,176
16,830
20,813
4,643
16,170
1982
Exports .
Agricultural
Nonagricultural
.....
211,013
37,439
173,574
55,607
10,403
45,204
55,001
10,566
44,435
52,334
8,389
43,945
48,071
8,081
39,990
76,370
17,244
59,126
19,853
4,587
15,266
19,890
4,781
15,109
19,036
3,961
15,075
17,591
3,915
13,676
249,575
79,414
170,161
64,431
21,049
43,382
62,363
20,834
41,529
59,735
17,735
42,000
63,046
19,796
43,250
73,833
6,835
66,998
19,610
1,976
17,634
18,307
1,781
16,526
17,772
1,480
16,292
18,144
1,598
16,546
264,143
77,580
186,563
64,995
20,533
44,462
66,831
20,798
46,033
65,539
18,158
47,381
66,788
18,091
48,687
77,499
5,944
71,555
18,212
1,547
16,665
19,062
1,532
17,530
19,802
1,423
18,379
20,423
1,442
18,981
247,344
61,201
186,143
61,545
15,642
45,903
60,763
13,406
47,357
64,829
16,444
48,385
60,207
15,709
44,498
76,566
5,039
71,527
18,554
1,245
17,309
19,169
1,128
18,041
20,127
1,366
18,761
18,716
1,300
17,416
72,258
135,046
17,770
36,380
19,162
34,458
17,467
30,902
17,859
33,306
24,172
25,918
5,865
7,361
6,465
6,460
5,905
5,946
5,937
6,151
69,820
, 137,860
18,238
35,007
17,213
36,003
16,951
33,656
17,418
33,194
22,853
26,372
5,945
6,415
5,621
6,639
5,572
6,695
5,715
6,623
1980
Imports
Petroleum .. ..
Nonpetroleum
„.,,....,
1981
Imports
Petroleum
Nonpetroleum.,...
,
1982
Imports
Petroleum
Nonpetroleum
,
Industrial supplies and materials
1980
Exports.
Imports
,
1981
Exports
Imports
,
, ..
,. ..
1982
Exports
Imports
..,
63,600
114,821
17,044
29,844
16,131
26,799
15,445
29,900
14,980
28,278
21,613
23,914
5,658
6,079
5,424
5,777
5,324
6,184
5,207
5,874
...
74,178
30,322
17,070
7,383
18,458
7,500
18,965
7,559
19,685
7,880
33,314
15,118
8,342
3,872
8,519
3,693
8,276
3,718
8,177
3,835
81,666
34,576
20,122
8,176
21,107
8,295
20,236
8,786
20,201
9,319
31,720
17,844
8,372
3,994
8,333
4,254
7,609
4,607
7,406
4,989
74,191
35,493
19,339
8,780
19,295
9,108
18,561
9,161
16,996
8,444
26,105
18,122
6,769
4,459
6,820
4,522
6,648
4,752
5,868
4,389
Capital goods, except automotive
1980
Exports ..
Imports
.. ,.
,,
1981
Exports
Imports
1982
Exports...
Imports
..
. . . ..
.,
,
.,
Soviet Union, down 50 percent, and to
Mexico, down 46 percent.
Nonpetroleum imports were nearly
unchanged at $186.1 billion; volume
was also unchanged. Among major
commodity categories, industrial supplies and materials had begun to decline in the second quarter of 1981;
about two-thirds of the decrease was
due to declining petroleum consumption. The impact of the U.S. recession
on nonpetroleum supplies was partly
offset by rapidly declining prices in
world commodity markets and the effects of the appreciation of the dollar.
Iron and steel imports were dampened by the decline in demand for oilfield pipe and by the dispute between
the European Communities (EC) and
the United States over subsidies. That
dispute was resolved in October,
when—effective November 1—the EC
agreed to limit shipments of carbon
and alloy steel, and steel pipe and
tube products, in exchange for the
withdrawal by U.S. steel producers of
dumping and unfair trade practices
complaints. Capital goods, excluding
automotive products, declined in the
first quarter of 1982 but showed suprising strength through the third
quarter, before dropping sharply in
the fourth (see table D). Changes in
various components are shown in the
accompanying tabulation. Only some
components were severely affected by
the U.S. recession.
Billions of dollars
1981
Business machines...,.
Scientific, professional, medical
and laboratory equipment......;
Electrical machinery
Agricultural machinery
Construction, textile, and other
specialized industrial machinery. . . .
Civilian aircraft and parts
Machine tools
Other industrial machinery
1982
Percent
change
5.2
6.2
19
.9
9.5
1.1
10.5
15
12
1.7
1.3
-24
3.4
3.7
2.0
5.8
3.0
3.4
2.0
5.5
11
-9
-5
-4
March 1983
SURVEY OF CURRENT BUSINESS
47
CHART 18 $0.8 billion; payments increased $1.2
Automotive imports were up strongbillion.
ly to record levels. Imports from
U.S. Petroleum Consumption,
Receipts of income of portfolio inCanada, where a new engine plant
Production, and Imports
vestment were $58.1 billion, compared
was opened in midyear, were especial- Million barrels per day
with $50.4 billion. Larger bank-reportly strong. Imports from other areas 20
were slightly higher. A voluntary 18
ed claims on foreigners, partly related
to the rebooking and channeling of
agreement to limit the number of
autos imported from Japan remained 16
new business to International Bankin effect. Although the number iming Facilities (IBF's)—discussed later
ported from Japan was 6 percent 14
in the article—and to high interest
lower, their unit value (as measured 12
rates in the first half of the year,
by the Census Bureau's unit value
boosted income. The sharp drop in inProduction
index) rose 7 percent. The share of 10
terest rates beginning in July and, to
Japanese autos as a percentage of
a lesser extent, a slower increase in
total U.S. sales increased to 22.6 per- 8
bank claims, resulted in smaller quarcent from 21.8 percent.
terly increases in the last half. U.S.
6
Petroleum imports decreased $16.4
Government income receipts were
I
I
I
I
I
I
I
!
I
I
billion to $61.2 billion. Most of the de- 4
slightly higher at $4.1 billion.
Percent
crease was in volume. The average 60
Payments of income on portfolio inIMPORTS, AS A PERCENTAGE Of CONSUMPTION
price per barrel declined to $31.26
vestment were $33.6 billion, up from
from $34.02 The average number of 50
$28.4 billion in 1981. The rebooking of
barrels imported daily declined to 40
liabilities to IBF's and high interest
5.36 million from 6.25 million. Recesrates boosted payments in the first
sion, conservation, reductions in in- 30
half. The decline in interest rates was
ventories, and a slight increase in dothe primary factor slowing payments
mestic production contributed to the 20
in the second half, although the
decrease in both value and volume. 10
smaller increase in bank liabilities
Consumption, as measured by petroalso contributed. U.S. Government
leum products supplied by refiners, 0
payments of income on foreign official
1972
1974
1976 1978
1980
1982
decreased 5 percent; stocks, excluding
assets in the United States were $18.0
Data: Consumption defined as deliveries from refineries. Consumption
those in the strategic petroleum rebillion, compared with $16.7 billion.
and production, U.S. Department of Energy. Imports, BEA. serve, decreased 8 percent; and pro- U.S. Department of Commerce, Bureau of Economic Analysis
Receipts of income on U.S. direct
83
duction increased 1 percent. The
investment abroad were $23.7 billion,
volume of imports comprised 35 per- an $11.4 billion deficit with non-OPEC down from $31.9 billion—a larger decent of total domestic products sup- developing countries, largely due to cline than in 1981. Income from manplied in 1982, compared with 39 per- much lower exports to Mexico; ex- ufacturing and other affiliates contincent in 1981, and 42 percent in 1980 ports to other developing countries ued to be depressed by the global re(chart 18). The value of imports from declined only slightly, while imports cession. Income from petroleum affiliOPEC members decreased 38 percent. were about unchanged. The deficit ates, which was stable in 1981,
The value from Mexico increased 25 with OPEC countries declined to $10.9 dropped as petroleum comsumption
percent; from Canada, 4 percent; and billion from $29.9 billion, due to lower and prices declined. Income of many
from Western Europe, 2 percent. Im- U.S. petroleum purchases (table E).
affiliates—especially
those
in
ports from OPEC members accounted
Mexico—was also adversely affected
for 48 percent of all petroleum im- Service transactions
by dollar appreciation that resulted in
ports in 1982, compared with 61 per- Net service receipts were $36.1 bil- both reductions in operating income
cent in 1981.
lion, compared with $39.0 billion (measured in U.S. dollars) and in capiBy area, the deficit with industrial (table F). Continued high U.S. interest tal losses. Capital losses were $1.7 bilcountries increased sharply to $16.7 rates in the first half of the year and lion, compared with gains of $0.4 bilbillion, due to lower exports and un- increased bank lending abroad helped lion in 1981. Also, there was a shift to
changed imports. There was a shift to to raise income receipts on portfolio net payments of $1.6 billion on the ininvestment $7.7 billion and payments terest component of income, due to in$5.3 billion. The global recession con- creased borrowing by parents from afTable E.—Merchandise Trade Balances by
tributed to an $8.2 billion decrease in filiates, particularly from finance afArea
income receipts on U.S. direct invest- filiates in the Netherlands Antilles.
[Millions of dollars]
ment abroad and a $2.2 billion de- Payments of income of foreign
1981
1982
1980
crease in payments of foreign direct direct investment in the United
investment in the United States. States were also lower, $5.6 billion
12217
6858
Western Europe
20,348
16991
Japan
10411
15802
Transfers under U.S. military sales compared with $7.8 billion. Interest,
-1,071 -2,066 -9,181
Canada
contracts increased from $9.7 billion dividends, and earnings of unincor7,160 -1,896
5,102
Latin America (excluding OPEC)...
to $12.6 billion and U.S. defense ex-porated affiliates increased; reinvestAsia and Africa
(excluding
OPEC)
-1,027 -3,722 -5,907
penditures abroad increased from ed earnings of incorporated affiliates
OPEC
-38,238 —28841 -10,870
$11.2 billion to $12.0 billion. Travel fell to $1.1 billion from $4.1 billion.
1,656
-41
3,165
Other (including Eastern Europe) .
and passenger fare receipts decreased There was a large increase in nega-
48
SURVEY OF CURRENT BUSINESS
March 1983
tive reinvested earnings of manufac- mainly due to a 3-percent increase in foreign economic assistance, especialturing affiliates, and decrease in the the number of U.S. travelers depart- ly to Israel, Turkey, and Egypt. Payreinvested earnings of petroleum and ing on foreign flag carriers.
ments to Israel in the fourth quarter
other affiliates.
Other transportation receipts de- accounted for one-half of the economU.S. military transactions with for- creased 1 percent to $12.0 billion. ic assistance to that country approprieigners resulted in net receipts of $0.6 Ocean freight and port expenditure ated by Congress for the fiscal year
billion, compared with net payments receipts decreased 11 percent and 2 beginning in October.
of $1.5 billion. Transfers under U.S. percent, respectively. Air port expendmilitary agency contracts increased iture receipts increased 7 percent. U.S. assets abroad
$2.9 billion to $12.6 billion. Transfers Other transportation payments deU.S. assets abroad increased $118.3
of equipment to the Middle East, creased 9 percent to $10.6 billion. billion in 1982, compared with a
Western Europe, and Latin America Ocean freight payments and port ex- $109.3 billion increase.
increased; deliveries to the Far East penditures decreased 15 percent and 6
U.S. official reserve assets increased
and Israel declined. Construction ac- percent, respectively, due to large $5.0 billion, compared with a $5.2 biltivity in Saudi Arabia also increased. drops in tonnage, and air port ex- lion increase. Foreign currency holdU.S. direct defense expenditures penditure payments decreased 6 per- ings increased $1.0 billion, compared
abroad increased $0.7 billion to $12.0 cent.
with a $0.9 billion increase. There
billion. Personnel expenditures and
Net unilateral transfers were $7.9 were several partly offsetting transacpay to foreign nationals, especially in billion, compared with $6.6 billion. tions. First, payments of $1.8 billion
Germany and Japan, accounted for There was a substantial increase in in German marks were made to
much of the increase.
Net international travel and pasTable F.—U.S. International Service Transactions
senger fare payments increased to
[Millions of dollars]
$2.8 billion, compared with $0.8 bilChange:
1980
1978
1981
1982 '
1976
1977
1979
lion. Foreign visitors spent $11.4 bil1981-82
lion for travel in the United States,
21,422
38,968
— 2,862
32,441
33,640
36,106
18,688
24,016
down 6 percent. Travel receipts from Service transactions net
63521
139,075
2,437
Receipts..
56,885
78,083 102,299 117,865 136,638
overseas increased 2 percent, as
84225
97670
5299
42099
54 067
69858
102 969
Payments
38197
higher expenditures in the United
1528
621
2,471
1,541
640
2181
559
2035
Military transactions net
States more than compensated for a
-788
-2,747
-1,959
Travel and passenger fares, net
-2,453 -2,683 -2,585 -2,000 -1,364
557
-610
424
1,414
857
105
-540
-429
Other transportation net
5-percent drop in the number of visi6560
247
4367
5157
5316
6204
6807
3871
Fees and royalties net
33,037
17,962
-4,317
15,975
20,565
31,215
29,910
28,720
Investment income net
tors from overseas. The increase was
16839
21,247
24,065
31 826
27,680
18,055
-6010
Direct net
15889
more than offset by a 22-percent drop,
3274
5040
6149
8173
12193
22055
24490
2435
Other private net
-742
U.S. Government, net
-3,188 -3,917 -6,831 -8,784 -9,963 -13,083 -13,825
to $3.0 billion, in receipts from
1,142
857
374
940
130
Other private and U.S. Government, net...
798
1,272
840
1234
1241
1494
1 671
119
1007
1790
Contractor operations net
1348
Mexico; three peso devaluations and
-673
-415
-625
-612
33
Reinsurance, net
306
-532
-640
3
125
-196
29
65
143
193
Communications net
50
currency controls were major factors.
-801
-925
-343
U.S. Government, net
-738
-1,198 -1,407 -1,504
-1,846
1,844
861
1590
318
Other net
700
972
1333
The U.S. dollar, which could be pur2,161
chased a year ago for 26 pesos, cost
Preliminary.
1. Consists of goods and services transferred under military sales contracts less imports of goods and services by U.S. defense
about 160 pesos at the end of 1982.
agencies.
Travel receipts from Canada declined
2 percent to $2.6 billion. U.S. travelTable G.—U.S. Bank-Reported Claims and Liabilities by Type
ers spent $12.3 billion for travel in
foreign countries, up 8 percent. The
[Millions of dollars]
number of overseas travelers was up
1981
19 82
1QQ1 i
6 percent, and their payments rose 9
I
II
HI r
IV '
IV
percent to $6.5 billion. Payments to
Mexico increased 15 percent to $3.3 Claims on foreigners reported by U.S. banks (increase/capital out-84.5
327
204 -16.7
1067
426
flow (—))
..
369
billion. Although the peso devalu280
95
625
250
164
Of which- IBF claims
625
790
ations lowered prices to U.S. travelBanks' own, in dollars:
g
51
107
313
Own foreign offices
120
285
82
ers, the high rate of inflation in
7.8
-19.9
145
135
141
97
Unaffiliated banks
450
oo
Mexico was partly offsetting. Travel
-4.9
-22.3
-26.8
-16.6
-7.9
-10.8
Other public borrowers and foreigners
Banks' claims for domestic customers and all foreign currency
payments to Canada were $1.9 billion,
1
32
32
110
63
33
63
claims
down 5 percent. The number of trav- Liabilities to foreigners reported by U.S. banks (including U.S.
267
120
6.5
44.2
217
246
698
Treasury securities) (increase/capital inflow (+))
elers to Canada was down 18 percent.
Most of the drop in travelers and ex303
Of which- IBF liabilities
47 1
47 1
95
198
147
743
penditures was in the first half of the
Banks' own, in dollars:
7
27.9
116
-6
200
88
Own foreign offices
83
year; during the same period in 1981,
113
32
51
Unaffiliated banks
53
37
235
59
large numbers of U.S. travelers went
2.0
3.3
7.4
4.8
5.6
2.7
Other public lenders and foreigners
17.6
Banks' liabilities to domestic customers and all foreign currency
to Canada to buy gasoline at cheaper
.4
5.7
liabilities
3.3
1.3
4.3
3.6
8.7
prices. Passenger fare receipts, at $3.0
Preliminary.
billion, did not change; payments inRevised.
IBF International banking facilities.
creased 6 percent to $4.8 billion,
1. U.S. bank-reported claims and liabilities were increased, beginning December 1981, by the shift from foreign branches to
1
p
2
p
r
international banking facilities in the United States of claims on, and liabilities to, foreigners.
2. Excludes liabilities to foreign official agencies.
March 1983
redeem maturing U.S. Treasury foreign currency-denominated notes.
Second, U.S. monetary authorities
provided nearly $6.2 billion in shortterm credits to Mexico and Brazil,
$4.1 billion of which was repaid
within the year/These credits, provided through existing and new reciprocal currency arrangements, were
sometimes provided in cooperation
with the Bank for International Settlements and monetary authorities in
other industrial countries. Mexico
repaid some of its drawings with the
proceeds of a $1 billion advance payment in August by the United States
for petroleum purchases for the strategic petroleum reserve. In other official reserve asset accounts, the U.S.
reserve position with the IMF increased $2.6 billion, almost unchanged from last year's increase.
U.S. holdings of special drawing
rights increased $1.4 billion, compared with a $1.8 billion increase.
Claims on foreigners reported by
U.S. banks increased $106.7 billion,
compared with $84.5 billion (table G).
The increase in claims slowed as 1982
progressed, largely due to cyclical
weakening of credit demands in the
major industrial and a number of developing countries, and to the increased recourse by borrowers to national and international bond markets. In addition, many banks reassessed their country risk exposure as
the financial positions of a number of
private and public borrowers deteriorated.
The higher level of lending in 1982,
compared with the 1981, was largely
associated with the rebooking of existing business from foreign branches
and the channeling of new business
through the newly created IBF's in
the United States. Most of the initial
rebooking and channeling of new
business
was
from
Caribbean
branches. Some portion of IBF funding from London branches may have
been provided by the establishing
entity in the United States.
The change in booking of some international business altered the pattern of U.S. bank-reported claims and
liabilities vis-a-vis branches in London
and in the Caribbean. The increased
importance of IBF lending, especially
in the foreign interbank market, led
to an increase in U.S. claims on U.K.
branches (other than custody claims)
of $21 billion, compared with $7 bil-
SURVEY OF CURRENT BUSINESS
49
lion in 1981; the increase in liabilities
was $19 billion, compared with $6 billion. Most lending by IBFs was to unaffiliated foreign banks. The increase
in U.S. claims on Caribbean branches
was about unchanged at $19 billion;
the increase in liabilities dropped
from $22 billion to $17 billion.
In other areas, U.S. bank-reported
claims on Western Europe, excluding
the United Kingdom, increased $15
billion compared with $7 billion; the
rate of increase slowed during the
year as credit demands weakened.
The increase in claims on Canada was
about unchanged at $4.1 billion;
claims on Japan increased $0.5 billion, down from a $4.0 billion increase.
The increase in claims on Latin
America, excluding Caribbean banking centers and OPEC member Venezuela, was $25 billion, but slowed
during the year from a 32-percent increase in the first half to a 6-percent
increase in the second. Claims on
other non-OPEC developing countries
in Asia and Africa increased $9 billion and slowed from a 21-percent increase to a 16-percent increase. Much
lending to Latin America was concentrated in Mexico, Brazil, and Argentina, where U.S, bank claims increased
64 percent in 1981 but only 35 percent
in 1982. Nearly all of the increase in
1982 occurred in the first half of the
year. Much of this increase in claims,
and those to other developing countries, was in the form of short-term
credits.
Bank's custody claims increased
$4.2 billion in 1982, compared with an
$10.2 billion increase in 1981. Purchases of Eurodollar certificates of deposit (CD's), mostly for the accounts of
U.S. money market mutual funds,
were strong in the first quarter, but
showed no growth in the second and
net sales in the third, in response to
perceptions of greater risk in Eurodollar than in U.S. CD's associated with
unsettled international financial conditions. Purchases rose again in the
fourth quarter.
Net U.S. purchases of foreign securities were $7.8 billion, compared with
$5.4 billion. A shift to net purchases
of foreign stocks and decline in net
sales of outstanding bonds more than
offset a decline in foreign new issues
in the United States. Net purchases of
foreign stocks were concentrated in
the September-December period, to-
CHART 19
Selected Interest Rates
Percent
16
LOH04ERM
14
12
10 I i i i * i I t .i ...i... t. i I I t I i .t i t I I I t
20
18
16
14
12
10
1981
1982
1. Interest rates for other Group of 10 countries and Switzerland weighted
by average total trade shares in 1972-76.
Data: Federal Reserve Board.
U.S. Department of Commerce, Bureau of Economic Analysis
83-3-19
taling $1.4 billion. There were substantial increases in share prices on
all major exchanges in the fourth
quarter when net U.S. purchases were
$0.5 billion in Japan, $0.3 billion in
Western Europe, and $0.1 billion in
Canada.
Foreign new issues in the United
States were $7.5 billion, down from
$8.0 billion. Canada continued to
borrow heavily in the Eurobond mar-
50
SURVEY OF CURRENT BUSINESS
kets as it had in 1981, partly because
Eurobond interest rates were as much
as 140-200 basis points lower than
U.S. interest rates in the first half of
the year. However, when U.S. interest
rates declined sharply and differentials narrowed—as they did in the
first quarter and in August-October—Canada shifted some borrowing to the
U.S. markets (chart 19), The absence
of Canadian borrowing from the U.S.
market in November-December reflected unusually large placements in
the Canadian market by issuers who
usually borrow only in the U.S. or
Eurobond market; the differential of
Canadian over U.S. rates had dropped
from over 260 basis points in July to
60 basis points in December. Borrowing by international financial institutions, including the World Bank, was
up strongly.
Net redemptions and sales of outstanding bonds were $0.8 billion, compared with $2.6 billion. Net sales
through the third quarter were partly
related to the realization of capital
gains from the strengthening in bond
prices over the previous year. In the
fourth quarter, there were large net
purchases.
Net inflows on U.S. direct investment abroad were $2.2 billion, compared with outflows of $8.7 billion.
Several factors affect year-to-year
comparisons. First, there were large
inflows in 1982 related to the sale of a
U.S. mining company's Canadian affiliates when the U.S. company was
acquired by a French company (the
offset to transactions recorded in the
foreign direct investment accounts).
Second, encouraged by a 140-200 basis
point advantage in Euromarket borrowing and by tax advantages, capital
inflows from finance affiliates in the
Netherlands Antilles rose to $9.7 billion from $3.6 billion (table H). The
borrowing slackened somewhat in the
second half of the year as U.S. interest rates dropped rapidly. (Excluding
Netherlands Antilles financing transactions, there would have been equity
and intercompany inflows of $0.7 billion in 1981 and outflows of $0.5 billion in 1982.) Third, and partly offsetting, the large equity inflows from the
sale of Canadian energy affiliates in
1981 were not present in 1982. Reinvested earnings decreased from $13.0
billion to $7.0 billion.
Foreign assets in the United States
Foreign assets in the United States
increased $84.5 billion, compared with
a $77.9 billion increase in 1981.
Foreign official assets in the United
States increased $3.0 billion, compared with a $4.8 billion increase.
Dollar assets of industrial countries
decreased $6.5 billion, compared with
a $12.2 billion decrease. Through
April, much of the reduction was associated with dollar sales by foreign
monetary authorities to support
weaker currencies (French franc, Belgian franc, and Italian lira) within
the European Monetary System
(EMS) system. Germany's dollar
assets decreased in the second quarter
prior to the EMS realinement in
June. Dollar assets of France fell
sharply in the third quarter prior to
the arrangement of a large standby
Eurocurrency credit line. A large reduction in United Kingdom dollar
assets occurred in the fourth quarter
when the pound sterling came under
further pressure. Substantial intervention sales of dollars by Japanese
authorities occurred through the
third quarter to limit yen depreciation. There was an unusually large
increase in dollar assets of Australia,
whose foreign exchange reserves had
March 1983
been substantially increased by direct
investment capital inflows and by
Japanese purchases of Australian
Government debt instruments.
Dollar assets of OPEC members increased $7.2 billion, compared with a
$13.3 billion increase. The increase in
assets, mainly of Middle East members, dropped sharply in the second
half of the year, shifting to a decrease
in the fourth quarter, reflecting falling petroleum prices and declining
revenues.
Dollar assets of non-OPEC developing countries increased $2.3 billion,
compared to a $3.7 billion increase.
Excluding an especially large increase
from Singapore, assets of most countries decreased as these countries continued to experience large current-account deficits and debt service burdens.
The increase in U.S. liabilities to
private foreigners and international
financial institutions reported by U.S.
banks was $69.8 billion, compared
with a $44.2 billion increase. The increase in bank liabilities slowed as
the year progressed, due in large
measure to cyclical weakening of
credit demands in the United States
and the sharp drop in U.S. interest
rates (table F). Inflows were large in
the first and second quarters (as they
had been in the last half of 1981)
when there was a large demand for
short-term credit (as evidenced by the
growth of CD's, commercial paper,
and bank credit) and when U.S. rates
were well above declining foreign
rates.
About one-half of the 1982 step up
in liabilities was with the international banking centers. Partly in response
to the change in booking of some international business to IBF's in the
(Text continued on p. 68)
Table H.—Selected Direct Investment Transactions With Netherlands Antilles Finance Affiliates
[Millions of dollars]
19 81
(Credits +; debits — )
... ,
...
...... . ,.
IV
,
409
107
516
1409
1450
249
451
1,658
1,901
...
....
.
.
199
294
2,710
-818
3,528
3647
-1,238
4,885
9653
-3,980
13,633
380
431
811
127
na
n.a.
235
-329
—800
-1,188
99
-178
-175
-302
1348
-423
1,771
n.a. Not available.
p
Preliminary.
'Revised.
NOTE.—Table shows only transactions with affiliates established primarily to borrow funds abroad and relend them to their U.S. parents.
1982
III
II
96
Equity and intercompany accounts
Equity . . .
..
Intercompany accounts
Income
Of which' interest
I
II
I
III r
IV p
2132
—901
3,033
3551
-1370
4,921
2155
822
2,977
1815
-887
2,702
267
341
—417
-461
483
693
550
835
na
n a.
51
SURVEY OF CURRENT BUSINESS
March 1983
Table 1-2.—U.S. International Transactions
[Millions of dollars]
Seasonally adjusted
Not seasonally adjusted
(Credits +; debits -)
Line
1
1981
1982 p
I
2
....
.
,
1 Exports of goods mid services
Merchandise adjusted excluding military3
2
Transfers under U S military agency sales contracts
,
., ..
3
4
Travel . .
Passenger fares
5
6
Other transportation
.
7
Fees and royalties from affilitated foreigners
8
Fees and royalties from unaffiliated foreigners
9
Other private services
10
US Government miscellaneous services
...
, ...
Receipts of income on U.S. assets abroad:
11
Direct investment
...
12
Interest, dividends, and earnings of unincorporated affiliates
13
Reinvested earnings of incorporated affiliates
14
Other private receipts
15
U.S. Government receipts. ,
,
,
.
..
16 Transfers of goods and services under U.S. military grant programs, net
17 Imports of goods and services
18
Merchandise, adjusted, excluding military3
19
Direct defense expenditures
20
Travel
....
21
Passenger fares
22
Other transportation
.
,.
23
Fees and royalties to affiliated foreigners
24
Fees and royalties to unaffiliated foreigners
25
Private payments for other services
26
U.S. Government payments for miscellaneous services .
.
. . . . .
Payments of income on foreign assets in the United States:
27
Direct investment..
28
Interest, dividends, and earnings of unincorporated affiliates
,
29
Reinvested earnings of incorporated affiliates
30
Other private payments
31
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
34
U.S. Government grants (excluding military grants of goods and services)
35
U.S. Government pensions and other transfers..
36
Private remittances and other transfers
37 U.S. assets abroad, net (increase/capital outflow ( ))
38
U.S. official reserve assets, net4
39
Gold
40
Special drawing rights
41
Reserve position in the International Monetary Fund
42
Foreign currencies
43
U.S. Government assets, other than official reserve assets net
44
U.S. loans and other long-term assets
45
Repayments on U.S. loans5....
46
U.S. foreign currency holdings and U.S. short-term assets, net
47
U.S. private assets, net
....
48
Direct investment
49
Equity and intercompany accounts
50
Reinvested earnings of incorporated affiliates
51
Foreign securities
U.S. claims on unaffiliated foreigners reported by U.S. nonbanking concerns:
52
Long-term
....
53
Short-term
U.S. claims reported by U.S. banks, not inlcuded elsewhere:
54
Long-term ,
,
55
Short-term
56 Foreign assets in the United States, net (increase/capital inflow (f )),.... .. ..
57
Foreign official assets in the United States, net
,
58
U.S. Government securities.
59
U.S. Treasury securities6...
7
60
Other
,.
61
Other U.S. Government liabilities8.
62
U.S. liabilities reported by U.S. banks, not included elsewhere
63
Other foreign official assets9
64
Other foreign assets in the United States, net.
. . .
...
65
Direct investment
66
Equity and intercompany accounts
67
Reinvested earnings of incorporated affiliates
68
U.S. Treasury securities
69
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. liabilities reported by U.S. Banks, not included elsewhere:
72
Long-term10.
,
73
Short-term10....
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)
77
Balance on goods and services (lines 1 and 17) n . . ..
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)
See footnotes on page 61.
372,892
236,254
9,747
12,168
2,991
12,168
5,867
1,386
5,940
426
31,873
18,894
12,978
50,407
3,665
602
-361,813
264 143
-11,288
11460
-4,487
11611
-429
264
-3,294
1930
350,088
211,013
12,615
11,392
2,980
11,994
5,596
1,510
6,651
436
n
-1,824
2491
-861
-5,137
9710
4,370
204
98,982
-8,691
4,287
-12,978
-5,429
i
12
-331
13
89,407
55,216
3,000
3,076
630
2,983
1,372
370
1,623
82
92,902
56,585
3,335
2,999
772
3,026
1,346
375
1,659
123
-1,392 -1,271
-858
-1,056
-534
-215
-8,170 -9,249
4467
4354
93
-125
-2,025 -1,726
1 473
1 069
-316
385
-236
-272
31 753 -37,826
-1,089 -1,132
-1,371
-400
-2,552
-547
1 041
142
-997
-5,766
10 123 -1,860
4,326
915
32
-52
107 535 29 667
-540
2,198
9,244
748
7046
1288
-7,772
-531
n,a.
(i3)
12
4,112
(13)
\
( )
^ -84,531 -106,711 32 708
77,921
84,494
25,080
4,785
3,043 -3,122
6,272
5,046 -1,640
5,716 -1,344
4,983
1,289
-670
-296
-69
12
-182
4083 -1,713 -1,516
2,665
278
216
73,136
28,202
81,451
21,301
9,424
1,165
17,201
8,325
632
4,099
1,100
534
14
2,932 146,945
1,277
7,109
5,973
1,319
12
II
23,657
5,950
5,866
16,611
4,661
4,638
7,046
1,288
1,228
58,112
14,062
15,867
4,132
1,044
948
514
93
125
-350,313 -86,653 -88,335
247 344 62157 -61,445
-11,975
2833
3088
-12,347 -2,507 -3,391
4772
1 126
1 473
-10,580 -2,520 -2,652
25
84
6
-274
-70
-68
-3,533
865
-873
2282
462
478
-7,808 -5,602
-3,708 -4,502
-4,099 -1,100
28 352 -33,622
-16,748
17 957
-602
-514
6,608 -7,868
-4,504
5413
-1,459 -1,484
-645
971
109,294 118 265
5175 -4,965
1982
1982
12
mi r
IV P
87,132
52,334
3,165
2,710
710
3,001
1,414
380
1,677
115
81,855
48,071
3,115
2,616
741
2,990
1,329
385
1,693
104
5,717
5,737
4,976
5,721
6,865
4,836
3,795
4,494
4,230
3,516
1,181
885
1,223
1,507
3,349
14,835
15,867
13,347
14,062
14,835
1,040
1,101
984
1,113
1,054
137
158
93
125
137
-90,755
84 570 -86,932 -87,160 -90,697
-63,682 -60,060
60763
61 545
64 829
2 964 -3,091 -2,833 -3,088 -2,964
-3,895 -2,554
3 157
3 137
2 899
-1,231
-942 -1,273 -1,187 -1,119
-2,828 -2,580
2570 -2,611 -2,737
_4
56
-84
6
—4
-68
69
70
68
68
-882
-913
-865
-873
-882
659
683
-506
565
-652
6,482
3,051
3,431
13,347
982
158
85 527
60207
-3,091
3 154
-1,193
2662
' 56
-69
-913
-559
mr
84,938
50,237
3,165
3,125
936
3,052
1,373
380
1,677
143
82,841
48,975
3,115
2,192
642
2,933
1,505
385
1,693
88
-1,490
-1,478
H
-8,610
-4,444
-137
-1,619
-1,048
OQO
-189
25279
-794
241
434
-814
-459
-77
99
-1,523 -2,506
2535 -3,491
1,014
973
-2
13
35 170 -21,980
774
2,498
1,954
3,725
-1,228
1 181
-3,266
-441
12
304
3
12
942
(13)
n.a.
(13)
i2_474
•
n.a.
41,262
1,093
25,809
62,869
25,423
22,552
10,687
4,207
41,864
5,944
5,366
16,043
14,511
-27,889 -36,331
225
11,079
8,975 -2,680
4,471
8093
-6,941
2,754
2,202
729
-4,860 -13,445 -11,085
4,567 -5,817 -1,729
3,909 -6,388
2404
2,841 -7,436 -4,227
-1,089
-2,940
-1,132
1,611
-5,175
4,854
4965
3,055
- 2,304
794
2,780
91,088
55,001
3,335
2,856
770
3,014
1,386
375
1,659
124
90,014
55,607
3,000
3,210
759
2,989
1,467
370
1,623
93
297
-400
241
-434
-732
-814
-547
-459
-77
920
-142
99
904 -1,547
2496
-740
-2,237 -1,860 -2,535 -3,491
990
1,424
1,008
982
-52
-2
13
73
20718 -29,264 -35,166 -22,307
2,502
447
-533
137
748
3,725
2,816
1,954
885
3 349
1223
1 507
-3,535
-531
-441
-3,266
O)
36 923 -20,430 -16,650
29,619
16,672
13,123
1,998
2,494
1,673
-1,818
4,749
3,755
-2,076
4,825
4,311
258
76
556
387
-286
69
3,393
1 981
1 609
36
12
-542
14,178
27,621
11,451
2,781
2,429
3,049
2,566
2,418
2,709
215 14 11 14 340
14
2,095
1,316
2,257
2,497
220
1,938
2
II r
1 449 -1,392 -1,271 -1,490 -1,449
858 ,-1,056 -1,478
-1,109
1 109
-534
-340
-215
-340
-11
-7,593
8 170 -9,249 -8,610
7 593
-4,693 -4,467 -4,354 -4,444 -4,693
158
93
-125
-158
-137
-2,498
2 048 -1,740
2431
1 649
-1,823 -1,473 -1,069 -1,048 -1,823
401
316
385
401
-382
-274
-286
-207
-259
-219
23 408 -31,257 -37,845 -25,597 -23,567
-1,950
1 950
1 089 -1,132
-794
532
-982
lr
IV P
n.a.
-1,950
1,604
12
4,112
12
-304
(13)
(13)
12
942
(13)
-297
-732
-920
818
-2,237
1,346
73
-20,800
615
2,816
-3,431
-3,535
n.a.
(13)
-32,708 -36,923 -20,430 -16,650
29,619
25,080
16,672
13,123
1,998
1,673
-3,122
2,494
-1,640 -1,818
3,755
4,749
-1,344 -2,076
4,825
4,311
-296
258
-556
76
387
-182
286
69
-1,516
3,393 -1,981 -1,609
216
36
12
542
28,202
27,621
11,451
14,178
1,165
2,781
2,429
3,049
632
2,566
2,418
2,709
215 14 11
534
340
14
1,277 "2,095
1,316
2,257
1,319
2,497
220
1,938
12
-982
2
- 2,304
12-474
25,423
22,552
10,687
4,207
5,142
-802
6,038
672
14,139
-1,904
16,546
2,035
-5,938
3,082
2,507
1,034
-5,762 -12,495
3,928 -3,565
3,257 -4,166
2,188 -5,214
12 136
-3,672
-4,280
-6,103
-1,089
-2,940
-1,132
1,611
-1,950
1,604
-794
2,780
n.a.
52
SURVEY OF CURRENT BUSINESS
March 1983
Table 3.—U.S. Merchandise Trade
[Millions of dollars]
Not seasonally adjusted
Line
1981
1982 *
1981
I
A Balance of payments adjustments to
Census trade data:
EXPORTS
1 Merchandise exports, Census basis ' including reexports and excluding military grant shipments ,.
Adjustments:
2
Private gift parcel remittances
3 Gold exports, nonmonetary
4
Inland U S freight to Canada
5 U.S.-Canadian reconciliation adjustments n e e net 2
6
Merchandise exports
transferred
under U.S. military agency sales
contracts identified in Census docu7
8
9
10
11
12
13
14
15
16
B
1
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
32
33
34
Other adjustments net 4
Of which quarterly 5seasonal adjustment discrepancy
Equals: Merchandise exports, adjusted
to balance of payments basis, excluding "military" (table 1, line 2)
IMPORTS
Merchandise imports, Census basis1
(general imports)
,
Adjustments:
Gold imports, nonmonetary
U.S.-Canadian reconciliation adjustments, n.e.c., net 2
Merchandise imports of U.S. military
agencies identified in Census docuOther adjustments net 6
Of which quarterly 5seasonal adjustment discrepancy
Equals: Merchandise imports, adjusted
to balance of payments basis, excluding "military" (table 1, line 18)...
Merchandise trade, by area, adjusted to
balance of payments basis excluding
military: 7
EXPORTS
Total, all countries ( A-9)
Western Europe
European Communities (10)
United Kingdom
European Communities (6)
Germany
Western Europe, excluding EC (10) ....
Eastern 2Europe
Canada
Latin American Republics and other
Western Hemisphere
Mexico
Japan
Australia, New Zealand, and South
Africa .
Other countries in Asia and Africa
Memoranda:
Industrial countries 7
Members of OPEC 7
Other countries 7
IMPORTS
Total all countries (A-16)
Western Europe
,
European Communities (10)
,
United Kingdom
European Communities (6)
Germany
Western Europe, excluding EC (10) ....
Eastern 2Europe
,
Canada
Latin American Republics and other
Western Hemisphere
Mexico
.....
Japan
Australia, New Zealand, and South
Africa
Other countries in Asia and Africa
Memoranda:
Industrial countries 7
Members of OPEC 7
Other countries 7
See footnotes on page 61.
II
Seasonally adjusted
1982
III
IV
I
II
233,677 212,193 59,718 60,750 55,145 58,064 55,295 57,011
1982
1981
mr
lyp
50,214
49,673 59,968 58,435 57,871 57,201 55,659 54,952
I
II
HI
IV
lr
II r
III r
IV P
52,843 48,870
229
1,285
1,151
215
883
967
49
321
282
46
307
313
49
363
281
85
294
275
53
250
242
51
141
252
36
198
236
75
294
237
49
321
295
46
307
294
49
363
293
85
294
269
53
250
250
51
141
238
36
198
247
75
294
232
4,271
4,277
1,041
1,204
1,023
1,003
1,084
1,202
1,072
919
1,041
1,204
1,023
1,003
1,084
1,202
1,072
919
4921
562
7 370 -1,010 -1,204 -1,202
157
420
-152 -107
1505 -1,615 -1,827 -1,688 -2,240 -1,010 -1,204 -1,202
406
-93
169
19 1,202 -703
245
17
1505
246
1615
-74
1827
244
1688
-374
2240
-79
-546
-160
19
484
-543
-96
126
782
236,254 211,013 60,294 61,836 55,502 58,622 55,216 56,585
50,237
48,975 60,683 60,284 57,694 57,593 55,607 55,001
52,334 48,071
261,305 243,952 65,064 66,752 63,716 65,773 61,694 60,498
62,819
58,941 65,615 65,537 64,718 65,468 62,161 59,378
63,361 59,053
1,816
1,462
476
441
672
227
211
311
546
394
476
441
672
227
211
311
546
394
-307
1,329
-427
2,357
-75
119
-81
377
-76
256
75
577
-129
381
-108
744
-88
405
-102
827
75
1,021
81
934
76
225
75
1,158
129
-698
-108
1,182
-88
1,010
-102
862
1,108
565
-51
561 -1,044
443
581
19
264,143 247,344 65,584 67,489 64,568 66,502 62,157 61,445
63,682
60,060 64,995 66,831 65,539 66,778 61,545 60,763
64,829 60,207
236,254 211,013 60,294 61,836 55,502
65,090 59,745 17,101 16,578 15,103
51,351 47,026 13,527 13,140 11,912
12,419 10,455 3,304 3,404 2,967
36,330 34,204 9,578 9,047 8,326
10,531
8,633 2,748 2,736 2,446
13,739 12,719 3,574 3,438 3,191
877
782
4,461
3,711 1,594
45,250 39,071 11,153 12,991 10,592
50,237
13,693
10,749
2,558
7,600
1,902
2,944
373
9,519
48,975
14,498
11,518
2,521
8,438
2,039
2,980
708
9,036
57,593 55,607 55,001
16,155 15,230 15,420
12,635 11,920 12,018
2,820 2,596 2,450
9,157 8,716 8,997
2,579 2,257 2,268
3,520 3,310 3,402
1,094 1,487 1,149
10,465 9,929 9,989
52,334 48,071
14,885 14,210
11,659 11,429
2,815
2594
8,216 8,274
2,063 2,045
3,226 2,781
664
411
10,120 9,033
58,622 55,216 56,585
16,308 15,756 15,798
12,772 12,321 12,438
2,744 2,692 2,684
9,379 9,018 9,148
2,601 2,402 2,290
3,536 3,435 3,360
1,208 1,608 1,022
10,514 9,822 10,694
60,683
16,442
13,050
3,196
9,237
2,595
3,392
1,466
11,277
60,284
16,193
12,767
3,144
8,958
2,714
3,426
978
12,204
57,694
16,300
12,899
3,259
8,978
2,643
3,401
923
11,304
6,865 11,455 11,105 10,217 10,027
1,742 4,381 4,839 4,577 4,410
5,311 5,500 5,359 5,293 5,644
9,246
3,738
5,137
9,125
3,423
5,197
8,221
2,886
5,252
6,573
1,702
5,1Q8
42,804
18,207
21,796
33,165 10,765 11,313 10,218 10,508
11,749 4,249 5,031 4,448 4,479
20,694 5,599 5,204 5,169 5,824
9,383
3,580
5,068
8,187
2,807
5,116
8,998
47,855
7,656 1,983 2,495 2,233 2,287 2,022 2,245
46,971 12,099 12,378 11,405 11,973 12,079 12,375
1,868
11,481
1,521 1,983 2,495 2,233 2,287 2,022 2,245
11,036 12,560 11,950 11,424 11,921 12,556 11,876
1,868 1,521
11,577 10,962
141,134 127,166 35,836 37,268 33,097 34,933 32,799 33,805
21,093 20,647 4,971 5,472 5,233 5,417 5,309 5,476
69,543 59,489 17,893 18,219 16,390 17,041 15,500 16,282
30,196
4,981
14,687
30,366 35,202 36,251 35,130 34,551 32,318 32,851
4,881 5,232 5,244 5,264 5,353 5,602 5,232
13,020 18,783 17,811 16,377 16,572 16,200 15,769
32,125 29,872
4,993 4,820
14,805 12,715
60,060 64,995 66,831 65,539 66,778 61,545 60,763
13,307 12,479 13,068 13,963 13,363 12,582 13,446
10,838 9,542 10,385 11,010 10,487 9,976 10,727
3,695 2,792 3,252 3,797 2,905 2,770 3,099
6,718 6,348 6,715 6,759 7,163 6,784 7,182
2,882 2,745 2,768 2,815 3,061 2,932 3,106
2,469 2,937 2,683 2,953 2,876 2,606 2,719
367
337
264
290
218
446
402
12,143 11,446 11,857 12,036 11,977 11,521 12,234
64,829
13,596
10,858
3,478
6,954
2,960
2,738
295
12,875
10,165
3,938
8,459
9,346
3,767
9,357
10,208 10,206
4,330 3,955
9,522 8,657
66,502
13,406
10,544
2,920
7,182
3,041
2,862
335
12,390
62,157
12,740
10,068
2,817
6,820
2,940
2,672
265
11,540
61,445
13,681
10,862
3,107
7,308
3,237
2,819
288
12,674
63,682
13,159
10,581
3,427
6,762
2,843
2,578
296
11,895
9,520 9,786
3,230 3,821
9,587 10,045
9,207
3,683
9,993
264,143 247,344 65,584 67,489 64,568
52,873 52,887 12,586 13,301 13,580
41,424 42,349 9,592 10,518 10,770
12,746 13,046 2,821 3,260 3,745
26,985 27,608 6,360 6,840 6,603
11,389 11,902 2,751 2,886 2,711
11,449 10,538 2,994 2,783 2,810
400
367
1,067
450
1,552
47,316 48,252 11,410 12,324 11,192
9,654
3,526
9,416
8,730
3,620
5,199
60,207
13,263
10,788
3,699
6,688
2,904
2,475
218
11,712
39,099
13,767
37,598
38,561 10,139
15,557 3,190
37,685 8,550
9,262
3,831
9,647
9,927
4,105
9,586
5,608
80,097
5,032 1,396 1,434 1,336 1,442 1,135
1,192
63,860 21,053 20,960 18,986 19,098 17,277 14,701
1,367
17,452
1,338 1,476 1,416 1,392 1,324 1,195 1,180
14,430 20,695 21,256 18,480 19,666 17,033 14,910
1,432 1,225
16,991 14,926
143,395 143,856 33,942 36,475 35,695 37,283 35,408 37,194
49,934 31,517 14,529 13,347 10,897 11,161 9,852 6,478
69,262 70,881 16,663 17,267 17,609 17,723 16,632 17,462
36,007
8,250
19,129
35,247 34,095 35,461 36,877 36,962 35,447 36,217
6,937 14,017 13,681 10,831 11,405 9,480 6,687
17,658 16,437 17,287 17,464 18,074 16,354 17,546
37,335 34,857
8,215 7,135
18,984 17,997
9,759
3,037
8,694
9,712
3,451
9,120
9,815 9,813 8,801
3,462 3,817 3,505
9,486 10,298 10,149
53
SURVEY OF CURRENT BUSINESS
March 1983
Table 3.—U.S. Merchandise Trade—Continued
[Millions of dollars]
Seasonally adjusted
Not seasonally adjusted
1981
Line
I
B Merchandise trade, by area, adjusted to
balance of payments basis, excluding
military—Continued
BALANCE (EXCESS OF EXPORTS +)
35 Total all countries
Western Europe
36
European Communities (10)
37
38
39
European Communities (6)
40
Germany
41
Western Europe, excluding EC (10) ....
42
Eastern Europe ...
...
Canada 2
43
44
Latin American Republics and Other
Western Hemisphere
45
Mexico
46
47
Australia, New Zealand, and South
Africa
Other countries in Asia and Africa
48
Memoranda:
49
50
Members of OPEC 7
51
Other countries '
C Merchandise trade, by principal end
use category, adjusted to balance of
payments basis, excluding military:2
EXPORTS
1 Total (A-9)
Agricultural products
2
Nonagricultural products
.....
3
Foods feeds and beverages
4
Foods, feeds, and beverages— agri5
cultural
6
Grains
..
..
..
7
Soybeans
..'
Other agricultural foods, feeds,
8
and beverages . .. .,
9
Nonagricultural foods, feeds, and
beverages
10
Industrial supplies and materials..
11
Agricultural
12
Nonagricultural
13
Energy products.......
.....
14
Fuels and lubricants..
15
Petroleum and products
Other nonagricultural
16
17
Nonmonetary gold .......
18
Capital goods, except automotive............
Machinery, except consumer-type
19
20
Civilian
aircraft,
complete—all
types
21
Parts and engines for civilian aircraft
22
Other transportation equipment
23
Automotive vehicles, parts and engines.... 8
24
To Canada
25
To all other areas
Consumer goods (nonfood), except
26
automotive
27
All other, including balance of payments adjustments not included in
lines C 4-26
.....
IMPORTS
28 Total (A-16)
.
29
Petroleum and products
30
Nonpetroleum products
Foods feeds and beverages
31
32
Industrial supplies and materials .
33
Energy products
..
Fuels and lubricants ........
34
Nonenergy products
35
36
Nonmonetary gold
37
Capital goods, except automotive
38
Machinery, except consumer-type
Civilian aircraft, engines, and parts...
39
40
Other transportation equipment
Automotive vehicles, parts and en41
42
43
44
45
From Canada
From all other areas
Consumer goods (nonfood) except
automotive
All other, including balance of payments adjustments not included in
lines C 31-44
See footnotes on page 61.
1982
1981
1982 "
II
III
IV
-27,889 -36,331 -5,290 -5,653 -9,066 7880
12,217
6,858 4,515 3,277 1,523 2,902
4,677 3,935 2,622 1,142 2,228
9,927
176
144 -778
483
-2,591
-327
6,596 3,218 2,207 1,723 2,197
9,345
-440
-3 -150 -265
-858 -3,269
674
381
580
655
2,181
2,290
873
477
415
2,644 1,144
2,909
667 -600 -1,876
-2,066 -9,181 -257
3,705
4,440
15802
-5,396
-3,808
16991
626
1,059
2951
I
II
mr
IV *>
6,941 -4,860 13445 -11,085
3,016 2,117
534
1,191
2,253 1,576
680
168
125 -423
869
1 174
2,198 1,840
838
1,720
-941
538
947
843
541
763
366
511
734
490
1,343
77
1718 1980 -2,376
3,107
722 -477
121 -1,740
698
1,659
658
-63 -251
1,298
1,218
1,505
4212 -4,418 -4,221 -4,794 -4,579 -4,470
897
845
887 1,053
587 1,061
2,624
3,390
-32,242 -16,889 -8,954 -8,582 -7,581 -7,125 -5,198 -2,326
1982
1981
I
II
III
4312 -6,547 -7,845
3,963 3,125 2,337
3,508 2,382 1,889
538
404 -108
2,889 2,243 2,219
-150
-54 -172
455
448
743
1,020
576
556
-169
347 -732
IV
I
r
II r
III r
IV P
9185 -5,938 -5,762 -12,495 -12,136
1,289
947
2,792 2,648 1,974
801
641
2,148 1,944 1,291
-663 -1,105
85
174 -649
1,262 1,587
1,994 1,932 1,815
897 -859
-482
675
838
488
306
644
704
683
116
757 1,223
446
859
1512 -1,592 2245 -2,665 -2,679
402
214
-3,300 1,696 1,393
593
2,196 1,344 1,388 1,115
-3,148 -3,194 -3,761 -4,193 -4,654
445 -221
233
344
5012 -4,160
-1,987 -3,633
1 444 -2,253
4270 3 549
507 1,079
841
963
501
183
827 1,065
-5,971 -3,394 -8,135 -9,306 -7,056 -7,745 -4,477 -3,034
436
296
-5,414 -3,964
5811
5210 4985
4 881 1,107
790 1 747 2411 3 129 3366
793 2 598 2 350 -2,609 -3,389
-2,261 -16,690 1,894
28841 -10,870 -9,558 -7,875 -5,664 -5,744 -4,543 -1,002 -3,269 -2,056 -8,785 -8,437 -5,567 -6,052 -3,878 -1,455 -3^222 -2,315
4638 2,346
4442
952 1219 -682 -1,132 1 180
524 -1,087 1 502 -154 -1,777 -4,179 -5,282
281 -11,392 1,230
236,254 211,013 60,294 61,836 55,502 58,622 55,216 56,585
44,264 37,439 12,815 10,776 9,161 11,512 10,687 10,217
191,990 173,574 47,479 51,060 46,341 47,110 44,529 46,368
38,314 31,745 10,760 9,320 8,423 9,811 8,765 8,754
37,082
22,128
6,223
30,614 10,562
17,153 6,480
6,247 1,938
50,237
7,556
42,681
6,802
48,975
8,979
39,996
7,424
60,683 60,284 57,694 57,593 55,607 55,001
12,575 11,151 9,947 10,591 10,403 10,566
48,108 49,133 47,747 47,002 45,204 44,435
10.996 9,670 8,718 8,931 8,893 9,064
52,334 48,071
8,389 8,081
43,945 39,990
7,147 6,641
9,074
5,456
1,391
7,906
5,046
935
9,540
5,147
1,960
8,597
5,018
1,763
8,553
4,943
1,646
6,289
3,551
1,150
7,175 10,700
3,640 6,770
1,686 1,173
9,368
5,691
1,472
8,342
4,731
1,479
8,671
4,937
1,559
8,638
5,264
1,507
8,811
5,162
1,713
6,769
3,276
1,734
6,396
3,450
1,292
8,730
7,215
2,145
2,227
1,925
2,432
1,816
1,963
1,587
1,849
2,217
2,206
2,132
2,175
1,868
1,936
1,759
1,653
1,232
69,820
6,671
63,149
10,746
10,725
3,769
52,403
4,398
81,666
65,752
1,131
63,600
6,,406
57,194
13,026
13,009
6,218
44,167
1,999
74,191
61,964
198
18,325
2,104
16,221
2,414
2,409
899
13,807
1,370
19,895
16,094
246
17,702
1,555
16,147
2,108
2,102
806
14,038
1,283
21,697
17,086
517
16,492
1,154
15,338
2,851
2,846
817
12,486
1,108
19,771
16,188
271
17,301
1,857
15,444
3,373
3,368
1,247
12,071
637
20,304
16,384
167
16,900
1,981
14,918
3,510
3,505
1,742
11,408
430
19,174
15,687
201
16,727
1,563
15,163
3,433
3,427
1,521
11,730
359
19,846
16,435
513
15,048
1,157
13,891
3,066
3,063
1,468
10,825
581
18,142
15,400
249
14,925
1,705
13,220
3,017
3,014
1,486
10,203
629
17,029
14,442
296
18,240
1,727
16,512
2,617
2,612
926
13,895
1,370
20,122
16,212
301
17,212
1,637
15,575
2,055
2,049
779
13,520
1,283
21,107
16,496
375
16,951
1,504
15,447
2,864
2,859
828
12,584
1,108
20,236
16,614
260
17,417
1,803
15,614
3,210
3,205
1,236
12,404
637
20,201
16,431
254
17,044
1,657
15,387
3,929
3,924
1,797
11,456
430
19,339
15,776
253
16,131
1,653
14,478
3,210
3,204
1,464
11,268
359
19,295
15,923
378
15,445
1,510
13,935
3,005
3,002
1,490
10,931
581
18,562
15,798
246
14,980
1,586
13,392
2,883
2,879
1,467
10,512
629
16,994
14,466
8,878
5,154
2,074
2,817
1,902
2,086
1,766
1,391
976
1,022
2,178
2,851
1,912
1,936
1,828
1,407
966
952
4,854
2,182
4,858
2,214
1,263
464
1,199
595
1,183
497
1,209
625
1,159
563
1,316
705
1,199
567
1,185
380
1,269
464
1,168
591
1,213
498
1,204
629
1,173
562
1,264
701
1,228
568
1,193
383
19,096
11,185
7,912
16,671
10,203
6,468
4,731
2,842
1,889
5,663
3,586
2,077
4,402
2,474
1,928
4,301
2,283
2,018
4,312
2,491
1,822
4,954
3,171
1,783
3,836
2,436
1,400
3,569
2,106
1,464
4,741
2,821
1,919
5,119
3,129
1,990
5,041
3,011
2,030
4,195
2,223
1,973
4,302
2,447
1,855
4,469
2,766
1,703
4.427
2,949
1,478
3,474
2,041
1,433
16,295
14,743
4,191
4,344
3,918
3,842
3,706
3,993
3,541
3,503
4,166
4,175
4,070
3,883
3,679
3,845
3,673
3,546
11,063
10,063
2,391
3,111
2,496
3,065
2,359
2,311
2,868
2,525
2,418
3,002
2,677
2,967
2,350
2,197
3,080
2,436
63,682 60,060
16,571 15,294
47,111 44,766
4,408
4,571
29,700 27,730
18,066 " 17,132
17,865 16,864
11,634 10,598
983
1,013
9,036
8,438
8,260
7,525
736
872
41
41
64,995
20,533
44,462
4,882
35,007
21,930
21,724
13,077
943
8,176
7,119
942
115
66,831
20,798
46,034
4,491
36,003
22,181
21,922
13,822
1,035
8,295
7,378
847
69
65,539
18,158
47,382
4,450
33,656
19,739
19,542
13,917
1,113
8,785
7,861
864
60
66,778
18,091
48,687
4,290
33,193
19,620
19,342
13,573
924
9,319
8,143
1,095
81
61,545
15,642
45,903
3,701
29,844
17,174
16,950
12,670
757
8,780
7,795
925
60
60,763
13,406
47,357
4,273
26,799
14,745
14,565
12,054
649
9,109
8,062
856
190
64,829
16,444
48,385
4,750
29,900
18,144
17,919
11,756
983
9,161
8,340
780
41
60,207
15,709
44,498
4,394
28,278
17,580
17,297
10,698
1,013
8,443
7,530
871
41
7,862
2,787
5,074
264,143 247,344 65,584 67,489 64,568 66,502 62,157 61,445
77,579 61,201 21,324 20,277 18,287 17,691 16,334 13,003
186,564 186,143 44,260 47,212 46,281 48,811 45,823 48,442
18,113 17,118 4,854 4,666 4,136 4,456 3,759 4,380
137,860 114,821 35,846 35,948 33,464 32,602 30,601 26,791
83,470 67,643 22,931 21,678 19,680 19,183 18,088 14,358
82,531 66,731 22,692 21,410 19,503 18,925 17,828 14,173
54,389 47,178 12,915 14,271 13,784 13,419 12,513 12,433
924
943 1,035
757
649
4,014
3,403
1,113
34,575 35,493 8,087 8,564 8,656 9,269 8,661 9,358
30,502 31,728 7,032 7,601 7,776 8.092 7,675 8,268
940
900
3,749
894
820 1,096
3,432
925
81
115
60
333
60
190
325
69
29,737
10,383
19,354
33,250
12,961
20,289
7,115
2,217
4,898
7,865
2,808
5,057
7,980
3,065
4,915
8,112
2,908
5,204
9,366
4,010
5,356
8,085
3,123
4,962
7,687
2,920
4,768
6,712
2,062
4,650
7,465
2,654
4,811
7,698
2,880
4,818
7,594
2,660
4,934
8,865
3,785
5,080
9,257
3,893
5,364
7,534
2,623
4,911
38,664
39,659
8,725
9,134 10,293 10,512
9,578
9,352
10,882
9,847
9,216
9,288
9,682 10,478 10,133
9,549
10,164
9,813
5,195
7,003
957
1,683
1,446
2,198
1,571
1,788
1,001
1,291
1,268
2,168
1,597
1,745
1,311
6,776
2,292
4,483
1,244
1,635
1,493
54
SURVEY OF CURRENT BUSINESS
March 1983
Table 3.—U.S. Merchandise Trade—Continued
[Millions of dollars]
Not seasonally adjusted
Line
1981
1982 P
1981
I
D Merchandise trade, by end-use category,
Census basis,1 including military grant
shipments:
1 Merchandise exports, Census basis, including military grant shipment
2
3
4
5
Agricultural products
Nonagricultural products
Excluding military grant
ments
ship-
Agricultural.
• ....
... ...
Grains and preparations
Soybeans
.
Other agricultural foods, feeds and
beverages
10
Nonagricultural (fish, distilled beverages etc ) - .
... ....
34
35
36
37
38
39
40
41
I
II
1982
III
IV
I'
II r
III r
IVP
8,915 12,460 11,022 9,852 10,480 10,274 10,456 8,264 8,017
40,778 47,654 48,208 47,480 46,583 45,430 45,010 44,059 40,765
189,862 175,182 47,019 50,104 46,079 46,660 44,738 46,904
42,783
40,757 47,634 48,196 47,471 46,562 45,412 44,993 44,033 40,744
31,338 10,655
9,196
8,327
9,710
8,647
8,649
6,678
7,364 10,890
9,546
8,622
8,830
8,775
8,959
7,023
6,581
36,673
22,060
6,186
30,235 10,457
17,087 6,463
1,926
6,218
8,950
5,423
1,379
7,820
5,054
926
9,446
5,121
1,955
8,485
4,976
1,762
8,453
4,928
1,645
6,173
3,538
1,117
7,124 10,594
3,646 6,753
1,694 1,702
9,244
5,658
1,460
8,256
4,739
1,470
8,578
4,911
1,553
8,526
5,221
1,506
8,711
5,146
1,712
6,653
3,263
1,700
6,344
3,456
1,300
6,930
2,068
2,148
1,840
2,370
1,747
1,880
1,518
1,785
2,140
2,127
2,047
2,113
1,799
1,853
1,690
1,589
1,104
198
246
507
264
162
196
505
240
296
301
365
253
249
248
370
237
61,726 17,802 17,184 15,947 16,742 16,398 16,321
14,611
8,427
1,215
67,675
Industrial supplies and materials
61,044
10,725
6,019
3,769
4,968
3,764
17,962
32
IV*
49,693 60,114 59,230 57,333 57,062 55,704 55,466 52,323 48,782
Nonagricultural ........ 9
Fuels and lubricants
Coal and related fuels.
Petroleum and products
Paper and paper base stocks
Textile supplies and materials
Chemicals, excluding medicinals
Other nonmetals (minerals, wood,
rubber, tires, etc.)
33
III
7,432
42,809
16
17
18
19
20
21
22
23
31
II
50,240
6,630
2,277
1,458
28
29
30
I
43,815 37,011 12,699 10,646 9,067 11,403 10,557 10,107
189,924 175,264 47,039 50,116 46,088 46,681 44,756 46,920
Agricultural
Raw cotton including linters
Tobacco unmanufactured
Other agricultural industrial supplies (hides, tallow, etc.)
27
IV
233,739 212,275 59,738 60,762 55,155 58,084 55,314 57,027
12
13
14
15
24
25
26
in
1981
37,888
Foods, feeds, and beverages
6
7
8
9
11
II
Seasonally adjusted
1982
2,895
6,357
1,980
1,547
2,095
915
300
1,549
540
325
1,145
288
281
1,841
534
552
1,964
757
355
1,553
521
352
2,830
880
684
576
755
852
680
570
55,369 15,707 15,635 14,802 14,900 14,434 14,768
13,008 2,409 2,102 2,846 3,368 3,505 3,427
1,974 1,503
6,080 1,145 1,066 1,834
1,809
899
806
817 1,247
1,742 1,521
6,217
1,207
1,158
4,341 1,263
1,340
1,115
1,180
964 1,014
910
877
769
2,800
765
16,960 4,538 4,575 4,412 4,437 4,373 4,504
13,463
3,063
1,443
1,468
1,067
619
4,243
1,148
350
228
14,396 17,716
16,695 16,406
16,858 16,542 15,725 15,008 14,451
1,692
352
612
1,717
714
279
1,631
507
394
1,494
402
396
1,787
654
388
1,640
580
344
1,643
486
432
1,501
488
332
1,573
426
439
728
724
730
696
745
716
725
681
708
12,705 15,998 15,064 14,912 15,071 14,901 14,081 13,509 12,878
3,014
2,612
2,049 2,859 3,205 3,924 3,203 3,002 2,879
1,210
1,039
1,822
1,867
1,642 1,361
1,326
1,321
1,836
1,797 1,464 1,490
1,466
1,486
926
779
828 1,236
993
1,211
1,166
1,111
1,070
978 1,322
1,261
1,173
969
992
942
863
773
644
635
647
748
3,840 4,542 4,425 4,374 4,621 4,367 4,354 4,231 4,009
9,416
8,448
2,430
2,586
2,229
2,171
2,168
2,274
2,038
1,968
2,407
2,414
2,291
2,305
2,142
2,094
2,093
Steel making materials
Iron and steel products
Other metals, primary and advanced, including advanced steel...
Precious metals (gold, silver,
platinum) ...........
900
3,390
779
2,459
197
857
309
884
189
797
204
852
147
719
270
672
190
576
172
493
233
858
273
875
183
813
211
844
166
719
247
665
188
588
178
488
9,920
6,573
3,050
2,824
2,212
1,834
1,638
1,676
1,667
1,591
3,056
2,775
2,240
1,850
1,644
1,635
1,690
1,603
3,760
1,516
1,290
1,144
891
434
269
310
493
445
1,290
1,144
891
434
269
310
493
445
Capital goods except automotive
Machinery, except consumer-type .........
Electrical and electronic, including
parts and attachments
........
Nonelectrical, including parts and
attachments.....
Construction machinery and
nonfarm tractors
Textile and other specialized industry machinery
Other industrial machinery,
nee
Agricultural machinery and
farm tractors ,
.....
Business and office machines,
computers, etc
Electronic
computers
and
parts
.
Scientific, professional, and service industry equipment
80,173
64,524
72,678 19,580 21,296 19,402 19,895 18,764 19,440
60,781 15,799 16,748 15,890 16,086 15,364 16,111
17,770
15,104
Civilian aircraft, engines, parts
Civilian aircraft, complete,
types
,
Other transportation equipment
all
2,118
16,704 19,808 20,706 19,867 19,792 18,929 18,889 18,190 16,670
14,202 15,916 16,159 16,315 16,133 15,453 15,599 15,502 14,226
12,920
12,939
3,455
3,329
51,605
47,842 12,659 13,414 12,747 12,785 12,272 12,656
11,775
11,614
10,306
2,760
3,025
3,013
2,816
2,729
2,782
2,642
2,153
2,864
2,879
3,009
2,862
2,809
2,675
2,639
4,187
3,704
1,044
1,094
1,000
1,049
934
963
876
931
1,070
1,056
1,043
1,018
955
930
914
905
17,243
15,666
4,233
4,496
4,246
4,268
4,158
4,036
3,862
3,611
4,236
4,345
4,375
4,287
4,154
3,906
3,971
3,635
3,140
3,335
3,144
3,301
3,092
3,062
3,186
11,140 12,730
3,195
3,247
3,291
3,137
3,309
3,439
3,054
12,964 13,068 12,842 12,316 12,290 12,063 11,172
2,182
2,232
1,795
569
655
504
504
521
541
399
335
549
572
543
568
506
477
431
381
10,562
11,008
2,593
2,639
2,591
2,738
2,588
2,860
2,690
2,870
2,574
2,662
2,649
2,677
2,569
2,880
2,749
2,810
8,837
9,324
2,165
2,197
2,179
2,295
2,150
2,415
2,282
2,476
2,159
2,218
2,219
2,241
2,146
2,433
2,323
2,422
5,767
5,364
1,459
1,504
1,393
1,411
1,342
1,474
1,306
1,242
1,439
1,449
1,450
1,429
1,322
1,422
1,360
1,259
13,467
9,683
3,317
3,952
3,014
3,184
2,837
2,625
2,099
2,123
3,427
3,956
3,053
3,030
2,914
2,589
2,119
2,061
8,613
2,182
4,825
2,214
2,054
464
2,753
595
1,831
497
1,975
625
1,678
563
1,309
705
900
567
938
380
2,159
464
2,788
591
1,841
498
1,825
629
1,741
562
1,325
701
890
568
868
383
42
Automotive vehicles, parts and engines ..
17,988
15,672
4,417
5,268
4,193
4,110
4,074
4,631
3,584
3,382
4,427
4,724
4,832
4,004
4,064
4,146
4,175
3,287
43
44
45
46
47
To Canada 8.
,
.....
To all other areas
..
..
Passenger cars new and used
Trucks, buses, and special vehicles...
Bodies, engines, parts and accessories n e e
. ....
10,076
7,912
4,005
3,310
9,203
6,468
2,930
2,468
2,528
1,889
1,058
851
3,191
2,077
1,270
921
2,265
1,928
878
783
2,092
2,018
799
755
2,253
1,822
653
695
2,848
1,783
991
715
2,184
1,400
630
493
1,919
1,464
656
565
2,507
1,919
1,061
880
2,734
1,990
1,072
843
2,802
2,030
1,160
819
2,032
1,973
712
767
2,209
1,855
656
719
2,443
1,703
838
658
2,697
1,478
839
518
1,854
1,433
596
573
10,672
10,274
2,507
3,076
2,532
2,556
2,726
2,925
2,462
2,161
2,486
2,809
2,853
2,525
2,689
2,650
2,818
2,118
15,868
14,307
4,077
4,222
3,823
3,746
3,598
3,878
3,423
3,408
4,052
4,053
3,975
3,787
3,571
3,730
3,555
3,451
6,976
5,950
1,787
1,896
1,676
1,617
1,499
1,674
1,397
1,380
1,807
1,772
1,762
1,635
1,515
1,564
1,471
1,399
8,336
7,971
2,130
2,176
2,016
2,014
1,999
2,099
1,941
1,932
2,100
2,131
2,066
2,039
1,965
2,061
1,988
1,957
556
4,178
9,971
5,193
4,778
386
6,539
10,015
4,898
5,117
160
905
2,302
1,178
1,124
150
1,052
2,544
1,355
1,190
132
1,015
2,448
1,324
1,124
115
1,206
2,676
1,335
1,341
100
1,382
2,450
1,226
1,224
105
1,585
2,523
1,274
1,249
86
1,579
2,596
1,150
1,446
95
1,993
2,446
1,248
1,198
145
905
2,316
1,208
1,108
150
1,052
2,454
1,314
1,140
148
1,015
2,616
1,342
1,274
113
1,206
2,584
1,328
1,256
91
1,382
2,442
1,250
1,192
105
1,585
2,431
1,245
1,187
96
1,579
2,791
1,160
1,631
94
1,993
2,350
1,243
1,107
48
Consumer goods (nonfood), except
automotive
....
49
50
Consumer durables, manufactured ...
Consumer nondurables, manufactured
Unmanufactured consumer goods
(gem stones)
Special category (military-type goods)..
Exports ne.c and reexports
Domestic (low-value, miscellaneous) .
Foreign (reexports)
51
52
53
54
55
See footnotes on page 61.
SURVEY OF CURRENT BUSINESS
March 1983
55
Table 3.—U.S. Merchandise Trade-Continued
[Millions of dollars]
Not seasonally adjusted
1981
Line
I
II
Seasonally adjusted
1982
1981
1982"
III
IV
I
II
56 Merchandise imports, Census basis
, 261,305 243,952 65,064 66,752 63,716 65,774 61,694 60,498
57
Foods, feeds, and beverages
,
58
Coffee, cocoa, and sugar
59
60
61
62
Green coffee
Cane sugar
65
67
68
69
70
71
80
81
82
83
84
85
86
IV
lr
II r
III r
IV P
58,942 64,507 66,102 64,667 66,029 61,117 59,819 63,947 59,069
4,854
4,666
4,136
4,456
3,759
4,380
4,408
4,571
4,882
4,491
4,450
4,290
3,701
4,273
4,750
4,394
3,917
1,575
1,247
1,032
1,376
946
876
1,016
1,078
1,557
1,248
1,076
1,350
883
883
1,100
1,050
2,622
2,142
2,730
863
866
586
603
487
495
422
658
647
626
210
636
165
716
230
751
259
771
689
631
486
579
350
640
618
548
250
654
167
814
197
714
249
13,201
3,279
3,419
3,105
3,080
2,813
3,493
3,325
3,243
3,374
2,940
2,818
3,390
3,650
3,344
66,375 22,530 21,313 19,396 18,820 17,779 14,067
60,846 21,161 20,179 18,180 17,586 16,284 12,897
17,776
16,482
16,754 21,561 21,824 19,435 19,238 16,900 14,459 17,829 17,186
15,183 20,370 20,700 18,051 17,986 15,592 13,300 16,355 15,599
,
Machinery, except consumer-type
Electrical and electronic, and parts
and attachments
Nonelectrical, and parts and attachments .............
Construction, textile and other
specialized industry machinery
and nonfarm tractors
Other industrial machinery,
n es
Agricultural machinery and
farm tractors
Business and office machines,
computers, etc
..*
Scientific, professional and service industry equipment
Transportation equipment, except
automotive
88
89
17,118
26,957 34,162 35,205 32,680 32,584 29,359 26,179 29,040 27,490
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.)
Capital goods, except automotive
87
18,113
3,392
Building materials, except metals
79
III
28,864
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)
78
II
3,504
Paper and paper base stocks
77
I
, 134,632 112,068 34,968 35,142 32,508 32,013 30,081 26,166
Other foods, feeds, and beverages
Industrial supplies and materials
66
76
62,819
IV P
12,882
..,
Fuels and lubricants 9
Petroleum and products
73
74
75
III
5,230
63
64
72
1982
1981
Civilian aircraft, engines, parts
Civilian aircraft, complete, all
types
82,058
77,107
5,603
5,271
1,408
1,424
1,295
1,476
1,348
1,374
1,266
1,283
1,385
1,398
1,328
1,493
1,329
1,348
1,297
1,297
11,863
2,555
633
5,966
11,361
2,269
740
5,711
3,039
629
172
1,498
3,056
626
184
1,580
2,895
644
147
1,472
2,874
655
130
1,415
2,942
615
230
1,392
3,028
606
240
1,529
2,860
555
174
1,479
2,531
493
95
1,311
2,930
620
134
1,476
2,935
613
138
1,540
3,008
649
166
1,524
2,991
673
196
1,425
2,837
607
190
1,372
2,915
595
191
1,492
2,984
558
206
1,531
2,626
509
152
1,316
2,709
2,641
739
665
632
672
705
653
652
631
700
643
669
696
667
637
689
648
3,716
3,176
964
1,105
861
786
589
834
936
818
1,037
1,028
824
827
639
777
897
863
31,390
2,588
11,262
25,885
1,369
10,071
7,028
484
2,024
8,245
752
2,854
8,060
729
3,203
8,057
622
3,181
7,423
391
3,223
6,864
386
2,922
6,026
333
2,235
5,572
259
1,691
7,249
623
2,155
8,019
690
2,877
8,085
659
3,150
8,036
616
3,081
7,654
500
3,385
6,680
338
2,914
6,032
288
2,174
5,518
243
1,598
12,514
10,073
3,190
3,354
2,906
3,064
2,719
2,388
2,366
2,600
3,170
3,198
3,023
3,123
2,703
2,288
2,448
2,635
4,134
3,486
1,054
1,099
901
1,081
887
630
808
1,160
1,054
1,099
901
1,081
887
630
808
1,160
5,027
34,493
4,372
35,352
1,330
8,031
1,286
8,564
1,222
8,654
1,190
9,245
1,090
8,657
1,168
9,233
1,092
9,036
1,022
8,426
1,302
8,120
1,255
8,295
1,253
8,784
1,216
9,295
1,067
8,776
1,140
8,984
1,123
9,161
1,042
8,431
30,502
31,728
7,032
7,601
7,776
8,092
7,675
8,268
8,260
7,525
7,119
7,378
7,861
8,143
7,795
8,062
8,340
7,530
9,452
10,548
2,083
2,304
2,477
2,588
2,370
2,641
2,934
2,603
2,200
2,298
2,422
2,532
2,501
2,635
2,867
2,545
21,050
21,180
4,949
5,297
5,299
5,505
5,305
5,627
5,326
4,922
4,919
5,081
5,439
5,612
5,294
5,428
5,474
4,985
3,425
3,043
852
852
877
844
846
802
729
,666
835
805
876
908
832
761
732
718
7,748
7,424
1,779
1,920
2,034
2,015
1,944
2,097
1,847
1,536
1,766
1,838
2,075
2,068
1,936
2,012
1,891
1,585
1,689
1,278
429
497
379
384
367
376
271
263
398
425
429
438
343
324
310
301
5,204
6,165
1,192
1,300
1,246
1,466
1,372
1,532
1,631
1,630
1,215
1,290
1,294
1,406
1,397
1,518
1,691
1,560
2,984
3,270
697
729
762
795
776
820
848
826
705
723
764
792
786
813
850
821
3,992
3,624
998
963
878
1,152
982
965
777
901
1,001
916
923
1,151
981
922
820
901
3,749
3,432
940
894
820
1,096
925
900
736
872
942
847
864
1,095
925
856
780
871
1,339
1,132
297
264
278
500
363
311
184
274
297
264
278
500
363
311
184
274
90
Automotive vehicles, parts, and engines .
29,737
33,250
7,115
7,865
6,776
7,980
8,112
9,366
8,085
7,687
6,712
7,465
7,698
7,862
7,594
8,865
9,257
7,534
91
92
93
94
95
From Canada..
...
From all other areas
Passenger cars, new and used
Trucks, buses, and special vehicles..
Bodies, engines, parts and accessories, n.e.s
10,383
19,354
17,768
4,844
12,961
20,289
20,280
5,212
2,217
4,898
4,366
1,102
2,808
5,057
4,845
1,172
2,292
4,483
3,903
1,175
3,065
4,915
4,655
1,396
2,908
5,204
5,054
1,429
4,010
5,356
5,641
1,525
3,123
4,962
4,780
1,174
2,920
4,768
4,805
1,084
2,062
4,650
4,038
1,043
2,654
4,811
4,490
1,161
2,880
4,818
4,523
1,376
2,787
5,074
4,718
1,264
2,660
4,934
4,650
1,340
3,785
5,080
5,205
1,513
3,893
5,364
5,593
1,400
2,623
4,911
4,831
959
7,124
7,758
1,648
1,848
1,698
1,930
1,630
2,199
2,132
1,798
1,632
1,813
1,800
1,880
1,603
2,147
2,264
1,744
96
Consumer goods (nonfood), except automotive
...
38,664
39,659
8,725
9,134 10,293 10,512
9,578
9,352
10,882
9,847
9,216
9,288
9,682 10,478 10,133
9,549 10,164
9,813
97
98
Consumer durables, manufactured
Consumer nondurables, manufactured
Unmanufactured consumer goods
(gems, nursery stock)..
20,766
20,868
4,610
4,894
5,316
5,947
5,211
4,911
5,428
5,318
4,986
4,959
5,173
5,648
5,618
4,993
5,242
5,015
14,928
16,164
3,324
3,483
4,260
3,861
3,678
3,833
4,822
3,831
3,469
3,569
3,780
4,111
3,854
3,941
4,282
4,088
2,969
2,626
791
758
717
703
688
608
632
697
761
760
729
719
661
614
640
710
5,667
6,505
1,371
1,380
1,349
1,568
1,508
2,000
1,544
1,454
1,415
1,359
1,372
1,520
1,554
1,970
1,576
1,406
99
100
Imports, n.e.s. (low value, goods returned, military aircraft, movies, exhibits)
. ...
See footnotes on page 61.
56
SURVEY OF CURRENT BUSINESS
March 1983
Table 4.—Selected U.S. Government Transactions
[Millions of dollars]
T•
1Q81
I
Al U.S. Government grants (excluding military) and transactions increasing Government assets, total
19i32
19 31
1QQ9 P
III
II
I
IV
mr
II
IV P
14,010
15,504
3,373
3,549
3,624
3,464
3,385
3,606
4,527
3,987
986
129
857
1250
121
1 129
1,308
67
1240
1,473
419
1054
1,069
25
1,044
1,048
22
1,026
1,823
288
1535
3491
257
2031
7
1068
135
2237
252
1886
8
91
By category
2
3
4
Grants net (table 1 line 34 with sign reversed)
Financing military purchases *
Other grants
•
4,504
317
4187
5,413
754
4659
960
5
6
7
8
9
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 in other than U S dollars
.
Other long-term assets
9710
1,142
8035
94
439
10123
1,007
7525
1,126
464
2596
195
2297
(*)
104
2374
1922
30
98
2428
316
1935
57
120
2313
308
1882
7
118
1860
213
1520
120
2535
285
2088
44
118
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
-204
—41
-32
71
-183
41
189
21
-54
4
-157
17
52
7
2
20
-13
30
-73
29
68
71
134
13
53
120
(*)
22
36
14
15
38
25
19
26
29
16
34
4
15
48
3
13
25
3
12
21
3
13
26
10
11
12
13
14
15
16
17
18
19
20
21
22
Less disbursements for —
Grants and credits in the recipient's currency
Other grants and credits
Other U S Government expenditures
.
Other 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
960
OOO
17
13
1
10
4
3
3
4
4
1
25
5
301
211
10
3
257
23
13
3
84
105
5
2
4
1
3
92
—47
68
76
4
3
58
16
58
31
66
14
65
12
2
3
68
33
48
17
36
257
18
190
14
9
5
11
1,142
1,720
7,000
3074
916
222
301
900
1,007
1422
8,827
2269
1589
185
260
464
195
317
1,966
841
135
58
84
55
ooq
529
1,495
818
114
62
92
301
316
591
1,568
735
377
49
68
56
308
283
1,972
681
291
53
58
64
213
247
1,943
663
163
66
58
148
285
411
2,065
614
123
43
66
131
257
492
2,015
473
7
1 180
37
65
139
252
271
2804
520
124
40
71
47
10,067
5,994
1,991
1,744
1,448
9,997
5337
1,695
2,788
2,216
2,578
1477
459
739
739
2,544
1644
555
339
210
2,603
1,540
543
317
196
2,342
1333
435
350
304
2,304
1,231
484
538
263
2,609
1,444
537
629
612
2,528
1313
519
602
586
2,556
1349
155
1,020
755
296
495
378
572
435
85
54
39
129
137
6
121
203
152
46
101
181
275
91
19
17
80
6
16
132
55
265
133
5
1
1
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
42
Estimated transactions involving no direct dollar outflow from the United States
Expenditures on U S merchandise
Expenditures on U.S. services 4
Financing of military sales contracts by U.S. Government 5 (line C6)
By long-term credits. 1. ..
...
By short-term credits
By grants 1
..
U.S. Government grants and credits to repay prior U.S. Government credits 14
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 assests (a) financing military sales contracts 1 and (b)
financing repayments of private credits
Less foreign currencies used by U.S. Government other than for grants or credits (line A19)
43
Estimated dollar payments to foreign countries and international financial institutions
41
Bl Repayments on U S Government long-term assets, total (table 1 line 45)
2
Receipts of principal on U.S Government credits
3
Under farm product disposal programs
4
Under Foreign Assistance Act and related programs
5
Under Export-Import Bank Act
6
Other assistance programs
.. ..
7
Receipts on other long-term assets
Cl US Government liabilities other than securities total net increase ( + ) (table 1 line 61)
2
3
4
5
6
7
8
9
10
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
Less U.S. Government receipts from principal repayments
Less U.S. Treasury securities issued in connection with prepayments for military purchases in the
United States
Plus financing of military sales contracts by U.S. Government 5 (line A34)
,
By long-term credits
..
.
.. .
By short-term credits *
1
By grants
Less transfers of goods and services (including transfers financed by grants to Israel, and by
credits) l 2 (table 1, line 3)
11
Associated with U.S. Government grants and transactions increasing Government assets (including
changes in retained accounts) 6 (line A40)
12
13
14
15
Associated with other liabilities
Sales of nuclear materials by Department of Energy
Other sales and miscellaneous operations
See footnotes on page 61.
1
6
1
1
(*)
235
301
93
257
105
84
47
92
84
68
58
58
3943
5509
795
1005
1021
1 122
1082
997
1999
1431
4,370
3,935
278
1,287
1466
905
4326
3,850
400
1,375
1551
524
947
842
46
242
343
212
1,071
964
59
397
347
160
1,107
998
50
297
333
319
1,244
1,130
123
351
442
214
915
802
57
287
341
117
1,014
873
34
377
397
64
973
861
49
328
420
65
1,424
1,313
259
384
392
278
435
477
105
114
112
141
112
111
12
55
107
48
109
69
337
275
182
387
286
69
157
291
118
86
232
186
5
224
-28
90
8915
594
11950
602
2321
124
2547
167
1595
145
2451
158
3723
133
2591
'172
1955
132
3681
165
160
1,744
1,448
1230
2,788
2216
603
739
739
222
339
210
742
317
196
77
350
304
1 122
538
263
511
629
612
712
602
586
3
8
24
66
3
8
31
65
(*)
8
38
68
1 331
1020
755
296
573
129
121
46
275
17
16
265
9,747
12,615
2,215
2,411
2,741
2380
3000
3335
3165
3115
1
4
1
1
(*)
1
1
3
2
(*)
227
133
7
100
307
228
79
171
54
118
39
16
76
100
104
43
61
88
21
110
187
76
111
161
20
141
260
183
77
21
11
32
SURVEY OF CURRENT BUSINESS
March 1983
57
Table 5.—Direct Investment: Income and Capital
[Millions of dollars]
19 82
1981
(Credits +; debits — )
I
II
III
IV
I
II
III r
IV P
U.S. direct investment abroad:
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
.,
31,873
23,657
8,530
8,435
6,466
8,442
5,950
5,866
4,976
6,865
... - .,
18,894
161
9,474
9,260
12,978
16,611
n.a.
n.a.
n.a.
7,046
4,419
107
1,894
2,417
4112
4,952
18
2,390
2,545
3,482
4,203
83
2,025
2,094
2,263
5,321
-48
3,165
2,203
3,121
4,661
-76
2,451
2,286
1,288
4,638
-334
2,982
1,991
1,228
3,795
593
2,126
2,263
1,181
3,516
n.a.
n.a.
n.a.
3,349
2198
2182
5203
—529
-777
-540
2,498
774
533
1721
3,725
2344
748
1954
9,244
1930
1,734
3,009
2,354
957
4,715
1,602
-388
3,152
n.a.
425
1 114
1123
1355 -723
na
400
736
n.a. -1,190 -581 -1,251 -2,415 -2,137 -1,980 -1,385
625
765
1695
851
3151
1,014
662
na
2027 -1,503 3,552
2,080 6,070 3,732
na
1,618
1572
389
na
1635
724
1 172
231
290
2,311
5,681
n.a
3662
' 69 2,828
446
3,442
-990 -1,054
-10 -209
n.a.
328 -1,332
1,418
3482
7 046
4 112
2263 3 121 1 288 1 228 1 181
2816
n.a.
na
n.a.
na
na
na
n.a
n.a.
3 349
Income (table 1, line 11)
Interest, dividends, and earnings of unincorporated affiliates (table 1, line 12)
Interest
.
Reinvested earnings of incorporated affiliates (table 1 line 13)
..
......
Capital (outflow ( )) (table 1 line 48)
8,691
Equity and intercompany accounts (table 1 line 49)
Incorporated affiliates
.. ... ..
Eouitv
Increase 2..
. ..
Decrease
Intercompany accounts
.
..
U S parents' receivables
U S parents' payables
...
..
.
..
„......,
..
..
... •<
4,287
6,719
1,025
-5,437
6462
5,694
1311
7,005
-2,432
12978
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
.. ...
...
24
25
26
Reinvested earnings of incorporated affiliates (line 6, or line 17 with sign reversed):
Petroleum.
.... ... .....
Manufacturing .
Other
..... ...
27
28
29
Equity and intercompany accounts (outflow (—)) (line 8):
Petroleum
Manufacturing
.
Other
.
.. ..
.....
..
.
......
13,168
8,212
..
2941
1,159
2,527
2,685
2,875
1,233
2480
1582
2725
626
na
n.a
10,493
9,135
4,661
n.a.
n.a.
na
2,442
2,310
980
2,455
2,674
1 116
2,366
2,087
1038
3,230
2,064
1527
1,842
2,584
1056
1,803
2,704
1046
1,625
2,174
1005
n.a.
n.a.
na
5,098
4,033
3550
n.a.
n.a.
na
1,129
1681
1 118
1,162
1,035
1 155
1,078
854
120
1,729
463
1 157
1,021
292
176
889
-223
537
616
550
379
n.a.
na
na
n.a.
2896
na
na
1,313
1 785
'365
220
1,292
269
1822
370
1,288
514
1293
955
1,501
937
781
626
821
1 136
*704
2588
914
945
419
4252
1,009
1 175
359
2770
n.a.
360
na
na
7808
3708
1 116
1850
742
4099
5602
4502
1 820
2 024
658
1 100
1789
850
219
417
—215
939
2079
899
226
515
158
1 180
2004
884
294
460
129
1 120
1936
1076
377
458
241
860
1392
858
324
426
109
534
1271
1056
465
561
30
215
1 490 1 449
1478
1 109
504
528
533
503
417 - 102
11
340
9424
2946
4,540
4,478
9,336
1 165
2781
2429
3049
17201
16,522
9811
10714
—903
6711
6782
-71
679
4099
8325
7900
3982
5894
1912
3918
3575
343
425
1 100
2007
1810
1394
1446
52
416
958
542
198
939
3360
3,068
1732
1850
118
1 336
1,023
313
293
1 180
3358
3,183
2350
2479
129
833
640
194
175
1 120
8475
8462
4336
4939
603
4126
4163
37
14
860
632
776
362
1221
1583
1 137
'727
410
144
534
2566
2393
1312
1568
256
1081
965
116
173
215
2418
2218
1 950
2007
57
268
950
683
200
11
2709
2514
1 082
1098
17
1 432
933
499
196
340
3 110
46
2446
893
167
730
973
424
681
736
330
938
805
92
1 039
781
120
491
794
12
465
868
24
646
667
61
843
1 019
1 067
1622
...
3709
2271
3407
1 012
3388
..
3991
2098
21301
...
na
na
5,395
1939
617
1731
... ... .
1 301
1 206
1995
221
268
362
264
229
406
295
250
338
240
319
517
217
329
312
417
268
371
396
316
767
272
293
545
2388
54
1 766
1 809
1 159
451
672
101
369
710
-195
276
441
80
600
565
227
522
564
209
179
377
256
94
472
340
121
395
354
299
3060
4348
9794
514
2459
5351
319
534
1 155
271
1284
1 805
1 171
1240
947
1 300
1289
5 887
114
737
219
4
683
1 886
108
888
1 422
Foreign direct investment in the United States:
30
31
32
33
34
35
Income (table 1 line 27)
..
Interest, dividends, and earnings of unincorporated affiliates (table 1 line 28)
Interest
Dividends
.
Earnings of unincorporated affiliates.. ,
. .. ... .. .......
. ...
Reinvested earnings of incorporated affiliates (table 1 line 29)
36
Capital (inflow (+)) (table 1, line 65)
37
38
39
40
41
42
43
44
45
46
.. ,
„..
Equity and intercompany accounts (table 1, line 66)
Incorporated affiliates
, ,
Equity ...
Increase *.
,
Decrease 2 ....
.. .. .....
Intercompany accounts...
U.S. affiliates' payables....
U.S affiliates' receivables .
,
. . .
Unincorporated affiliates.
Reinvested earnings of incorporated affiliates (table 1 line 67)
...
,. .. , ..
...
.. •
..... .
., .... ...
.
......
By industry of affiliate: 3
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 (inflows (+)) (line 37):
Petroleum
..
. ....
Manufacturing.,
„ ,.
Other
,.
See footnotes on page 61.
401-010 0 - 8 3 - 2
.. ...
,
..
,
,
296
152
0 OCO
58
SURVEY OF CURRENT BUSINESS
March 1983
Table 6.—Securities Transactions
[Millions of dollars]
n
I
Al Foreign securities, net U.S. purchases ( — ), balance of payments basis (table 1, line 51, or lines 6+17
below)...,
.. ......
..... .
,
,
— 5,429 —7,772
19$32
19 31
1QQ9
T i«<a
—458 — 1,511
III
IV
—618 —2,843
mr
II
I
-531
IV'
—441 —3,266 — 3,535
Stocks:
2
Treasury basis n e t *
3
4
5
6
..
.
Balance of payments basis, net .. .,
7
... ...
Newly issued in the United States ..
Of which Canada
s
9
10
11
12
13
.
.
5
.
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. ...
Other foreign stocks
Western Europe
Canada
Japan
,.„„.„
Other
.. .,
., ...
,
..
.... . ....
.
...
.
,
5 -1,347
,
... ...
...
......
....
.
.,
...
,
..
188
349
17
214
-100
—105 — 1320
-188
349
-17
214
-100
-141
— 114
97
-78
6
51
-139
45
359
-445
8
-74
122
305
-198
59
427
119
98
402
4
319
1323
-1,323
139
36
36
,.
.. ..
...
1311
. .
-243
103
-139
—303
86
247 -1,044
816
143
686
154
-234
-318
62
—64
11
-70
19
33
95
120
7
1
334
31
172
153
—22
-30
54
16
60
20
967
2825
745
341
-967
-2,825
-120
-8
-1,320
— 105
56
162
65
-21
— 15
-1,215
631
67
-510
7
3 125
2215
-133
Bonds:
14
5434
6426
Adjustments:
15
16
Plus other adjustments
17
-5,434 -6,426
18
19
20
Newly issued in the United States
By type* Privately placed
Publicly offered
21
22
23
24
25
26
By area* Western Europe
Canada
...
..
.
,.
Latin America
Other countries ..
...
.... ..
International financial institutions 3
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
.
...
.,
,. ...
,
.....
.....
...
,.
., ... . ...
,
...
-752 -2,306 -1,675 -3,287 -1,412
321
272
209
245
409
543
2061 -1266 -2966
1,140
—816
788
-4,816 -3,147
297
49
-428
..... -472
-374
-833
1245
1950
...
. ...
-319
-8,020 -7,195
— 1184 — 1249
-6,836 -5946
Balance of payments basis, net .,
,
,
....
..
Bl 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)
543
-100
-109
-299
1513
220
-193
-81
-745
—207
310
1,244 -1,516 -1,323
77
-69 -110
I'89
-78 -106
— 1245
-341
517
-1,348
—49
-16
-81
-99
-514
—500
950
-215
1,825
776
309
740
292
160
60
72
322
165
120
37
318
105
213
300
90
60
150
300
156
44
100
520
195
130
195
1,354 -1,056
202
1 104
15
55
534
510
527
627
142
115
-2
136
123
661
112
-28
309
268
389
162
-12
137
102
162
43
57
72
134
367
143
112
119
7
-31
585
170
90
474
1,232
520
453
259
-3,125 -2,215
-3,459 -1,494
472
131 -374
-699 -3,085 -1,022
-830
668
215
135
318
-271
-261
-331
-131
500
337
210
127
-334 -1,058
27
689
-175
-52
252
311
66
-6
7,109
5,973
2,419
3,533
761
396
1,319
2,497
220
1,938
5761
3909
1 674
2969
676
442
934
997
436
1542
-769
-344
27
-55
-532
-209
-260
4,992
3594
1045
118
235
3,565
2524
232
-2
811
1701
1309
222
-48
218
2,914
1720
773
188
233
144
248
82
19
205
233
317
32
-41
11
674
718
143
-1
100
5,040
f) QQ9
2,028
1,116
1,292 -1,310
1,485
-867
1,604
-987
-77
240
305
340
2,117
360
2,408
600
718
200
618
100
617
60
163
1757
15
1823
1
517
22
496
558
359
346
122
127
165
Stocks:
2
Treasury basis net 1
3
4
Adjustments:
Plus exchange of stock associated with US direct investment abroad
Plus other adjustments *
,
5
6
7
8
9
..
Balance of payments basis, net „. ...
Western Europe
Canada
Other
...
,.....,
,
,.
...
..
,
.. ..
.
...
... .
-123
246
313
298
153
-157
19
1,788
879
231
256
422
1,794
-280
187
-703
852
645
1,707
100
-93
300
149
200
-22
185
9
636
1562
45
-129
—264
60
111
55
41
145
293
157
-207
790
629
9
-100
270
Bonds:
10
11
12
13
14
15
16
Adjustments *
„.
..,...,.,....,...
New issues sold abroad by U S corporations
*
.. ..
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
See footnotes on page 61.
-87
SURVEY OF CURRENT BUSINESS
March 1983
59
Table 7.—Claims and Liabilities on Unaffiliated Foreigners Reported by U.S. Nonbanking Concerns
[Millions of dollars]
19 82
1981
Line
(Credits + ; increase in U.S. liabilities or decrease in U.S. assets. Debits — ; decrease in U.S.
liabilities or increase in U.S. assets.)
Al Claims total
2
Long-term (table 1 line 52)
3
Short-term (table 1 line 53)
4
Financial claims
5
Denominated in US dollars
6
Denominated in foreign currencies
-7
By area* Industrial countries 2
8
Of which United Kingdom
9
Canada
10
Caribbean banking centers 3
11
Other
12
Bv tvDe' Deposits
..
..
..
13
Other claims
14
Commercial claims
15
Denominated in US dollars
.
16
17
By area* Industrial countries 2 4
18
Oil-exporting countries
19
Other
20
By type* Trade receivables
21
Other claims
..
Bl Liabilities, total
2
Long-term (table 1, line 70)
3
Short-term (table 1 line 71) .
.
4
Financial liabilities
5
Denominated in U.S. dollars
6
Denominated in foreign currencies
7
By area: Industrial countries 2
8
Of which United Kingdom .
9
Caribbean banking centers 3
10
Other
11
Commercial liabilities
12
13
Denominated in foreign currencies
14
By area' Industrial countries 2. 4 ., ..... ...
15
Oil-exportinff countries
16
Other
17
By type* Trade payables
—
18
Other liabilities
.
..
...
..
.
..
..
1981
I
331
3148
564
579
910
3712
2,331
174
-52 - 2M7
16
122
324 -1,5311,480
113
1,554
. . . -1,002
.... -932 -1,228
434
428
. ...
—298 -2,436
124
105
817
157
L
-140
100
26
.
..
1,768
-1,234
.
..
.
-350
-252
-691
...
63
126
597
865
268
~
1,357
1334
..
-26
-79
147
976
-829
-63
287
..... .
...
...
371
511
140
-40
—105
259
152
224
-33
191
-211
569
556
538
314
574
..
..
1171
1768
..... ...
78
1,479
908
452
725
56
2,048
100
322
300
2%
385
-139
76
349
27
— 162
14
-176
-92
209
301
-207
246
131
16
70
209
—279
305
118
493
36
106
-738
532
....
2148
2,070
97
-183
.
252
2,218
-673
-118
17
-85
.
2 470
-720
-172
,
..
II
III
855
-327
1 182
633
681
48
440
303
151
201
8
799
166
222
234
12
191
164
133
248
26
1,006
261
745
1011
1,145
134
1,405
1056
-423
29
5
233
238
446
908
457
992
987
IV
I1
II
Amounts
HIP
508
4,112
304
942
90
155
116 -309
3957
420
1,251
598
-624
2,789 — 710
636
-456
1,878
888
782
168
911
146
178
-64
1,627
233
-62
157
97
75 ' 94
-51 1,617
510
77
630
1,064
912
-999
70
98
56 -214
-709
1,784
-873
931
85
295
1005
163
116
1323
306
406
46
1,369
443
S42
70
46
37
36
12
537
315
405
-79
357
—1
16
183
429
75
-98
167
1,318
502
252
-51
5
-96
54
—457
-982 — 2,304 —474
517
823 -1,111
570
-974 -1,805
1,044
1,193
-1,353
207 -2,260
520
400
-1,578
737 -2,269
9
225
530
120
-1,410
486
473 -1,900
-1396
556
1 116
156
96 -743
-357
-123
3
39
123
157
1 189
896
44
994
456 -973
-25 -1026
440
216
19
32
111 -266
486
280
25
1004
1212
1 115
54
81
682
159
323
1157
210
1420
573
32
166
426
IV
n.a.
n.a.
n.a.
n.a.
n. a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
na
n. a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n a.
n.a.
na
n.a.
n a.
n a.
7i. a.
na
n.a.
na
na
na
na
standing
Sept. 30,
1982
29,469
5,546
23,923
17,580
15,491
2,089
9,297
3,714
4,318
6,436
1,847
12,498
5,082
11,889
11,295
594
6,251
1,518
4,120
10,709
1,180
26,620
6,928
19,692
10,537
8,456
2081
7,539
3,240
1,924
1,074
16,083
15272
811
8,165
4805
3113
7781
8302
See footnotes on page 61.
Table 8.—Claims on Foreigners Reported by U.S. Banks
[Millions of dollars]
1982
1981
Line
(Credits +; decrease in U.S. assets. Debits — ; increase in U.S. assets.)
1 Total (table 1, lines 54 & 55)
By area:
Industrial countries J
Of which United Kingdom
Caribbean banking centers 2
Oil-exporting countries 3
Other
.
Of which Latin American countries....
......
Asian countries
African countries
...
By type:
10
Payable in dollars
11
Banks' claims for own account
12
On own foreign offices
13
Of U.S.-owned banks
14
Of foreign-owned banks in the United States
15
On foreign public borrowers 4
16
On other foreign banks
17
Of which deposits
18
On other foreigners
19
Banks' claims for domestic customers' accounts .
20
Deposits
21
Negotiable and readily transferable instruments
22
Collections outstanding and other claims
23
Payable in foreign currencies
24
Banks' claims for own account
25
Of which deposits
26
Banks' claims for domestic customers' accounts
27
Of which deposits
Memoranda:
Claims on foreign public borrowers (incl. in line 15 above):
28
Long-term
29
Short-term
.. ..
. ...
Claims on all other foreigners (incl. in lines 16+18 above):
30
Long-term ..
31
Short-term
32
U.S. banks' dollar acceptances payable by foreigners ..
2
3
4
5
6
7
8
9
See footnotes on page 61.
1981
1982 "
I
II
III
IV
I
II
Amounts
III r
IV P
standing
Dec. 31,
1982
84,531
106711
11 634
14998
15254
42 645
32708
36923
2Q430
16 650
400 852
34079
-16,094
19503
-2259
28690
—22,421
-5028
—705
46 108
25,115
20992
5 646
33965
24,966
8587
645
8481
3,522
4275
-73
1 195
107
908
45
7361
4094
2907
172
4902
1,822
2978
79
5065
3334
4836
98
5255
4388
534
280
13 172
5144
7485
2260
19728
16318
2*424
'549
15853
9086
6177
1594
9084
8324
875
250
12 272
3616
7286
1850
15515
11657
3 318
461
6831
7745
7552
1*017
5030
4484
503
39
11 152
4668
23
1 185
4 336
501
3 891
27
165234
70435
88369
18439
128 810
91 914
31 232
2848
83679
73524
31 256
20743
10513
9,755
19943
11281
— 12,570
10155
326
9,351
478
-852
844
814
8
615
104 639
100 389
28 527
18170
10357
12950
45042
18786
- 13 870
4250
559
4,874
1 183
—2072
2366
1038
294
73
12193
7 244
9836
7026
2810
21
3703
991
1090
4949
' 38
3879
1 108
559
41
810
518
581
15684
13 695
4 641
894
3 747
1754
5891
1 996
1409
1989
251
3485
1 245
686
589
271
97
61
14974
13305
8591
7381
1 210
2074
3221
1 745
581
1669
*229
1532
' 92
280
379
359
99
35
40828
39 280
8 188
5442
2*746
5906
14 534
8 531
10652
1 548
386
455
707
1817
1 095
994
722
8
32343
26442
5075
5 121
46
2586
13 509
6004
5*272
5901
'l34
6576
809
365
392
398
27
28
36259
36 818
12004
4 698
7 306
5895
14 052
6738
4 867
559
86
363
110
664
686
75
22
82
20474
23 629
10 665
8324
2341
2629
9690
3903
645
3 155
' 36
2919
'200
44
371
97
415
45
15 563
13500
783
27
756
1 840
7 791
2 141
3086
2063
547
1 580
64
1 087
917
812
170
26
392 487
352 867
126 544
72918
53 626
44 522
119 290
42*845
62*511
39620
1*936
30 627
7*057
8365
7*689
4241
676
139
927
918
22 830
21 032
5331
3829
7 110
5620
36
508
744
997
1 388
1 222
3 163
2 118
1 211
1 148
3 151
2836
1 821
*718
9306
24675
-6,874
8772
51549
-8851
531
2302
1718
866
6866
3048
685
1 518
184
7 224
18 593
1*924
2289
15842
915
4 173
15737
2666
1 078
8917
2 142
1 232
11 053
3128
31 099
152 196
38401
SURVEY OF CURRENT BUSINESS
60
March 1983
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]
1982
1981
Line
(Credits +; increase in foreign assets. Debits — ; decrease in foreign
assets.)
1981
Al Foreign official assets in the United States net (table 1 line 57)
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
By area: (see text table B)
By type:
U S Treasury securities (table 1 line 59)
Bills and certificates
Denominated in U S dollars
Denominated in foreign currencies ..
Bonds and notes, marketable
7
8
9
10
11
12
13
14
15
16
17
18
19
20
•.
..
».
By type:
Foreign commercial banks
.. ..
U.S. Treasury bills and certificates...
U S. liabilities reported by U S banks
Banks' liabilities for own account l
,
Payable in dollars
To own foreign offices
,
Of U S -owned banks
Of foreign-owned banks in the United States
To other foreign banks
Demand deposits
Tune deposits 1
,
Other
Payable in foreign currencies
Banks' custody liabilities payable in dollars 1 2
...
..
,.
International financial institutions 6
U S Treasury securities.
.
..
Bills and certificates
Bonds and notes marketable
..
U.S. liabilities reported by US. banks
Banks' liabilities for own account payable in dollars *
Demand deposits
Time deposits 1
Other
Banks' custody liabilities payable in dollars * 2
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
.......
7
Bonds and notes nonmarketable
U S liabilities reported by U S banks
l
Banks' liabilities for own account, payable in dollars .
.......
Demand deposits .
..... ,. ...
Time deposits 1
Other
Memorandum:
Negotiable certificates of deposit held for foreigners 1
See footnotes on page 61.
in
IV
I
II
III r
IV P
3,043
5,361
2 861
5835
8,119
3 122
1,998
2,494
1,673
184,583
5,716
-5,731
-5,731
7,242
4,249
4,249
-2,063
-2,768
-2,768
4635
-7,538
7538
4,439
2,209
2,209
1344
-5,341
-5,341
-2,076
3539
-3,539
4,825
941
941
4,311
2,208
2,208
122,684
46,658
46,658
11,695
2864
-2,864
14,488
3 041
-3,041
3,353
360
-360
1,797
1 092
-1,092
3,703
800
-800
2,842
-612
-612
4,497
500
-500
2,604
-1,141
-1,141
4,684
800
-800
2,703
600
-600
67,276
8,750
8,750
1,289
-69
-670
12
454
55
536
48
545
-337
-246
275
-296
-182
258
387
-76
-286
-556
69
8,367
13,068
4083
-1,187
-1,053
549
-683
-2,896
2,665
1,713
-243
389
1,402
1256
-1,470
-278
-3,109
-1,616
433
-692
491
-1,493
829
2028
-427
743
-387
-783
-1,601
647
2,382
-1,859
1,278
-577
-4
-523
974
3,436
2,715
-85
2,205
595
721
215
1516
-1,481
-336
721
-1,866
-35
216
3,393
3,623
1,121
624
1,878
-230
36
-1,981
-2,223
-629
102
-1,492
242
12
-1,609
-162
-545
159
224
1447
-542
24,832
16,484
1,981
5,471
9,032
8,348
15,632
44,194
69,814
-2,403
8,413
16,470
21,714
26,700
24,647
12,003
6,464
254,888
13,068
22,527
141
6,996
1,462
„
21
22
23
24
25
26
27
28
29
30
42
II
4,983
-3,848
-3,848
Bl 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)
2
3
4
5
6
I
Amounts
outstanding
Dec. 31,
1982
4,785
Denominated in U.S. dollars
,
Denominated in foreign 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 1.. ... ..
Other
Banks' custody liabilities, payable in dollars 1Z
.....
Other foreign official assets (table 1 line 63)
By area:
Industrial countries 3
Caribbean banking centers 4..
Oil-exporting countries 5
Other countries ...
.
International financial institutions 6
1982 P
36,733
18,233
4,421
9,720
707
2,323
-3,334
556
-679
-157
2,483
4,543
287
1,154
54
4,797
9,164
-310
3,074
-255
3,465
12,154
720
3,447
1,928
13,368
11,472
155
2,511
-806
10,172
3,600
3,923
5,349
1,603
11,165
-1,329
488
2,111
-432
2,028
4,490
-145
-251
342
120,029
70,873
12,438
42,497
9,051
36,769
1,044
35,725
32,880
32,928
27,869
21,835
6,034
5,059
2576
6,917
718
—48
2,845
49,100
4,121
44,979
44,403
43,545
20,031
16,335
3,696
23,514
2790
19,611
6,693
858
576
3,778
203
3,981
-4,174
3685
-1,827
175
2,002
-1,858
-1,623
621
-856
489
193
6,467
328
6,139
6,260
6,527
7,228
3,842
3,386
-701
1,063
-577
-1,187
-267
-121
16,088
269
15,819
15,221
15,375
13,706
10,251
3,455
1,669
1,569
147
-47
-154
598
17,992
244
17,748
15,573
14,711
8,762
7,567
1,195
5,949
3585
6,726
2,808
862
2,175
22,960
530
22,430
23,478
22,950
11,631
13,495
-1,864
11,319
2347
9,999
3,667
528
-1,048
15,443
708
14,735
13,939
13,576
8,304
3,691
4,613
5,272
97
4,532
643
363
796
7,203
1,971
5,232
4,084
3,894
669
2,072
-1,403
3,225
-1,136
3,264
1,097
190
1,148
3,494
912
2,582
2,902
3,125
-573
-2,923
2,350
3,698
596
1,816
1,286
-223
320
189,920
5,809
184,111
173,503
168,752
118,584
57,377
61,207
50,168
8,734
28,320
13,114
4,751
10,608
1,462
1,372
288
1,084
90
194
116
-27
105
-104
707
-84
1,080
-1,164
791
941
156
1,277
180
-150
-157
411
79
332
568
-150
-20
18
112
-418
-54
-21
-44
23
-33
63
98
8
43
-96
«255
497
-193
304
242
41
25
-15
31
201
1,928
1,479
446
1,033
449
240
13
2
229
209
-806
561
-432
129
-245
-193
-53
83
-223
-52
1,603
967
1,315
-348
636
783
91
440
252
-147
-432
2229
-748
1481
1,797
1,519
-106
148
1,477
278
342
1,739
945
794
-1,397
-1,168
-88
606
-1,686
-229
9,051
6,075
1,621
4,454
2,976
1,584
106
1,339
139
1,392
5,963
516
177
2,228
-1,889
5,447
5,383
180
6,250
-687
64
20,007
2,908
825
3,847
-1,764
17,099
16,699
77
15,748
874
400
1,532
776
133
643
2,000
443
-86
529
1,557
1,231
77
1,282
-128
326
1,794
485
44
255
-784
2,279
2,420
-259
2,564
115
141
4,546
1,308
84
1,224
756
1,011
-97
1,285
-177
255
637
-218
86
801
-1,105
855
721
99
1,119
-497
134
3,238
3,508
-444
3,979
-27
270
7,601
420
173
601
-354
7,181
6,648
201
6,581
268
533
5,232
1,574
591
1,877
-894
3,658
3,327
16
3,036
275
331
2,628
-394
-23
145
516
3,022
3,216
706
2,152
358
-194
55,917
13,320
1,525
10,467
8
1,328
42,597
38,617
5,266
31,935
1,416
3,980
474
3,581
1,059
300
-795
1,080
497
1,708
613
763
14,296
March 1983
SURVEY OF CURRENT BUSINESS
61
Footnotes to U.S. International Transactions Tables 1-10
General notes for all tables:
'Revised.
"Preliminary.
'Less than $500,000 (±).
n.a. Not available.
Table 1-2:
1. Credits, +: exports of goods and services; unilateral transfers to United States; capital inf flows (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
tuning) of Census statistics to balance of payments basis; see table 3.
4. For all areas, amounts outstanding December 31, 1982, were as follows in millions of dollars:
line 38, 33,957; line 39, 11,148; line 40, 5,250; line 41, 7,348; line 42, 10,212.
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 debt 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 investments 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 short- and
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 excepixports of goods and services"
A partial reconciliation table of the international accounts and the NIPA's foreign transactions
account appears in the "Reconciliation and Other Special Tables" section in this issue of the
SURVEY OF CURRENT BUSINESS.
12. The maturity breakdown is available only on the limited basis shown in table 7.
13. 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.
TableS:
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 for 1981. In 1982, imports reflect f.a.s. Customs values. 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 gpv*
ernments (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; 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 inland freight on U.S. merchandise imports from Canada; 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); 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 trade with international organizations, namely purchases of nonmonetary gold from the IMF and transfers of tin to the International Tin Council
(ITC), 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, the IMF and the ITC.
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 $1,842 million in 1981, and
$1,650 million in 1982, has been largely corrected in line C24.
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, section
4, 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.
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 to the Department of Defense (on military sales contracts)
financed by loans extended to foreigners by U.S. Government agencies and (b) the contraentry for
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.
7. Includes $1,000 million prepayment for petroleum to be delivered by Mexico.
8. Includes receipts on short-term Commodity Credit Corporation asset financing U.S. merchandise export.
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. "Other" industries includes mining; trade; banking; finance (except banking), insurance, and real estate; agriculture, forestry, and fishing; construction; transportation, communication, and public utilities; 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.
Table?:
1. Amounts outstanding were reduced by an increase in the reporting exemption level from $2
million to $10 million, effective March 31. Capital flows omit the impact of the drop in reporting
coverage.
2. Consists of Western Europe, Canada, Japan, Australia, New Zealand, and South Africa.
3. Mainly in the Bahamas and Cayman Islands.
4. Based on data for Ecuador, Venezuela, Indonesia, and other Asian and African oil-exporting
countries.
Table 8:
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 oil-exporting
countries.
4. Includes central governments (central banks, departments, and agencies), state, provincial
and local governments, and international and regional organizations.
Table 9:
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 oil-exporting
countries.
6. Mainly the International Bank for Reconstruction and Development (IBRD), International
Development Association (IDA), International Finance Corporation (IFC), Asian Development
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 Communities (10)" includes the "European Communities (6)," the United
Kingdom, Denmark, Ireland, and Greece.
12. The "European Communities (6)" includes 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 line 72 and 73.
SURVEY OF CURRENT BUSINESS
62
March 1983
Table 10.—U.S. International
[Millions
European Communities
(10) »
Western Europe
(Credits +; debits — ) 1
Line
1982
1981
1 Exports of goods &nd services 2
2
Merchandise adjusted, excluding military 3
3
Transfers under U S military agency sales contracts
4
Travel ..
...
5
Passenger fares.
6
Other transportation
7
Fees and royalties from affiliated foreigners
8
Fees and royalties from unaffiliated foreigners
..
..
9
Other private services ...
...
10
U S Government miscellaneous services
Receipts of income on U.S. assets abroad:
11
Direct investment.
,
12
Interest dividends and earnings of unincorporated affiliates ....
13
Reinvested earnings of incorporated affiliates..
14
Other private receipts
...
15
18
19
20
21
22
23
24
25
26
27
28
29
30
31
.. .
....
100,365
59,745
2,886
2,079
1,157
3,719
3,055
634
1,467
104
25,667
15,756
745
374
233
947
752
157
359
23
26,026
15,798
651
525
287
935
750
157
368
30
23,126
13,693
759
728
404
939
733
159
372
32
25,545
14,498
731
452
233
898
820
162
368
19
83,417
51,351
1,954
1,697
974
2,896
2,719
491
1,002
77
79,080
47,026
2,019
1,601
930
2,864
2,772
516
1,104
80
11,874
7,249
4,625
12,348
1,418
9,727
7,329
2,398
14,411
1,381
2,523
2,025
497
3,400
398
2,195
2,135
60
3,984
345
1,409
1,714
-305
3,613
286
3,600
1,455
2,145
3,413
351
9,004
5,353
3,651
10,284
968
7,125
5,518
1,607
12,098
945
.
127
244
40
84
40
80
35
52
-96,632
-96,088
-22,811
-24,880
-24,654
23,743
75,927
-76,455
-52,873
-6,485
3123
-3,344
-3,578
-545
-193
-1,061
-480
52,887
-6,906
3,437
-3,510
3229
295
-203
-1,118
522
12,740
-1,637
447
-821
-779
-101
-51
-272
-124
13681
-1,748
1 151
-1,154
-802
60
-50
-276
136
13,159
-1,700
-1,280
-861
-865
78
-51
-279
133
13,307
-1,821
-559
-674
-784
55
-51
-291
-129
41,424
-5,567
-2,429
-2,531
-2,679
354
-176
-886
336
-42,349
6,148
-2,731
-2,563
-2,423
175
-186
930
-351
-5,561
-2,686
-2,875
11,755
-7,634
..
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:
Interest dividends and earnings of unincorporated affiliates
Reinvested earnings of incorporated affiliates
Other private payments
US Government payments
..
..
.. ...
-3,944
-3,160
-785
-13,124
-6,914
-941
-654
-287
-3,123
-1,776
-785
695
-90
-3,453
1,584
-1,117
995
-121
-3,393
1,740
-1,102
815
-287
-3,156
1815
-5,132
2280
-2,852
-8,111
6,304
3750
-2,731
1,020
9412
-5,437
•
...
127
244
40
84
40
-80
-35
52
35
182
-644
861
-414
477
-690
752
-136
148
-181
193
-14
13
-165
164
32
-9
-167
208
-296
-306
-178
188
440
23
-484
947
322
14
-516
852
-27,329
779
(*)
-44,576
1,245
-13,637
-112
-8,201
162
-9J79
768
-12,959
427
-22,805
1,707
(*)
38607
1,286
-779
1,245
-112
162
768
427
-1,708
1,286
-74
-1,180
1,093
13
184
-874
1,065
-7.
-74
305
247
-16
-31
266
247
-12
82
159
231
10
207
144
339
12
68
-414
483
-1
333
-133
452
13
-26,476
4,588
37
-4,625
-624
-46,005
-2,139
259
-2,398
-2,483
-13,451
868
-370
-497
210
-8,331
-94
-34
-60
-579
-10,629
860
556
305
-517
-13,593
-2,038
108
-2,145
-1,596
-21,165
-2,622
1,030
3,651
-674
-40,226
-1,249
359
-1,607
-2,675
n.a.
"477
14 _ 7
32 U S military grants of goods and services, net
33 Unilateral transfers (exluding military grants of goods and services), net
34
35
U.S. Government pensions and other transfers
36
Private remittances and other transfers
37 U S assets abroad net (increase/capital outflow ( ))
38
U S official reserve assets net 4
. . .
39
Gold
40
Special drawing rights
41
42
Foreign currencies
43
44
45
46
US Government assets other than official reserve assets, net
U S loans and other long-term assets
Repayments on U S loans s..
U S foreign currency holdings and U S short-term assets net
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
52
53
54
55
56 Foreign assets in the United States net (increase/capital inflow ( + »
57
Foreign official assets in the United States, net
U S Government securities6
....
...
58
59
U S Treasury securities
60
Other7..
8
61
Other U S Government liabilities
...
..
..
62
U S liabilities reported by U S banks not included elsewhere
63
Other foreign official assets 9
. .-.
.....
64
65
66
67
68
69
,
- 22,949
15
-41,705
15
-13,270
15
-7,651
15
-148
-10,824
14
n.a.
15
-9,960
15
n.a.
1,859
-19,728
40,571
-4,369
8,498
-5,228
9,621
-2,131
15,967
2,942
6,485
48
(16)
(16)
(16)
(16)
-36,395
27,362
10,842
16
15
(17)
(17)
1
( )
-169
(16)
167
, 1
(16)
(16)
(16)
(16)
(16)
29,239
12,403
9,528
2,875
44,940
7,131
6,346
785
13,726
2,001
1,715
287
11,752
1,228
1,138
90
13,025
1,638
1,516
121
6,438
2,264
1,977
287
11,662
8,810
2,852
6,696
5,676
1,020
5,308
4,757
1,163
2,057
425
1,112
4,817
5,130
586
n.a.
— 159
n.a.
76
77
78
79
Memoranda:
Balance on merchandise trade (lines 2 and 18) 10
Balance on goods and services (lines 1 and 17)
.
..
Balance on goods services and remittances (lines 77, 35, and 36)
Balance on current account (lines 77 and 33) 10
15
14
(16)
72
73
74
75
See footnotes on page 61.
"1,685
12,800
-16,439
,
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
I
Short-term
U.S. liabilities reported by U.S. banks, not included elsewhere:
Long-term
I
Short-term
Allocations of special drawing rights
Statistical discrepancy (sum of above items with sign reversed)....
70
71
1982 '
1981
IV"
105,740
65,090
2,782
2,152
1,178
3,859
3,035
590
1,315
100
.
16 Transfers of goods and services under U S military grant programs net
17 Imports of goods and services
mr
n
I
(16)
14
(16)
-132
166
(16)
14
(16)
14
-246
(16)
14
-126
-252
45
(17)
(")
(16)
(17)
(17)
14
513
n.a.
(16)
(16)
(16)
(16)
(16)
(16)
5,385
143
2,419
-2,553
-4,691
4,968
4,034
8,299
12,217
9,108
9,325
9,143
6,858
4,277
4,339
3,863
3,016
2,856
2,868
2,720
2,117
1,147
1,146
1,133
534
- 1,528
-1,487
-1,496
1,191
1,802
1,812
1,506
9,927
7,490
7,953
7,930
4,677
2,625
2,961
2,947
684
-1,496
17
-5,226
17
15,615
SURVEY OF CURRENT BUSINESS
March 1983
63
Transactions, by Area
of dollars]
European Communities ( 0 n
1)
1982
III'
IVP
20,268
12,321
498
286
200
724
675
128
269
17
20,522
12,438
444
399
240
725
667
128
278
26
18,069
10,749
544
571
307
723
660
129
282
26
20,220
11,518
533
345
183
692
770
132
276
11
1,584
1,688
-104
3,372
223
2,717
1,042
1,675
2,819
226
5,412
2,566
2,846
6,874
103
20
8
833
1,096
-263
3,048
197
7
-17,980
-19,646
-19,699
-19,130
-10,068
-1,496
-317
-595
-583
-62
-47
-228
-79
-10,862
-1,461
-958
-817
-602
-33
-46
-232
-102
-10,581
-1,590
-1,013
-614
-650
-57
-46
-235
-90
-843
-575
-268
-2,227
-1,436
-807
-615
-192
-2,481
-1,246
— 20
1982"
1981
mr
IVP
12,505
9,018
321
178
101
404
456
88
150
7
12,737
9,148
272
250
101
407
410
86
155
6
10,757
7,600
348
399
173
399
394
86
160
9
12,645
8,438
337
225
84
384
496 ^
88
159
8
645
485
160
868
269
694
1,284
-590
1,012
196
1
70
587
-517
950
168
1,377
524
853
905
144
-45,941
-11,506
-11,892
-11,512
-11,031
17
-26,985
-4,169
-1,157
-1,286
-1,340
-83
-81
-401
-247
-27,608
-4,466
-1,530
-1,447
-1,228
-128
-85
-422
-262
-6,820
-1,056
-220
-317
-294
-61
-21
-104
-63
-7,308
-1,099
-511
-483
-305
-17
-21
-105
-70
-6,762
-1,175
-562
-344
-329
-39
-22
-106
-68
-6,718
-1,135
-237
-303
-300
-11
-22
-106
-61
18
19
20
21
22
23
24
25
26
-3,924
-1,754
-2,170
-2,737
-5,091
-1,840
-1,659
-181
-2,892
-4,034
-744
-445
-299
-728
-1,078
-385
-538
153
-713
-1,008
-408
-269
-139
-696
-1,034
27
28
29
30
31
(*)
1
-303
-407
103
-755
-914
1
364
-23
-342
729
188
-14
-361
563
43
-6
-100
149
42
-3
-88
133
63
-2
-83
148
40
-2
-90
132
33
34
35
36
-6,357
— 1,708
-9,031
1,286
-2,930
— 106
-2,123
173
316
784
-4,294
434
1,286
106
173
784
434
37
38
39
40
41
42
123
-4
-118
—213
137
-42
110
—19
116
14
31
—8
30
8
18
—6
33
-9
24
—3
21
7
38
—3
32
8
43
44
45
46
-6,314
-631
1
-632
-1,014
-4,532
-929
-476
-454
-555
-10,427
985
892
94
-1,182
-2,855
168
328
-160
-96
-2,315
976
386
590
-281
-492
744
227
517
-272
-4,766
-902
-49
-853
-532
47
48
49
50
51
IVP
I
II
25,815
10,455
381
456
416
824
846
155
374
46
6,656
2,692
106
92
92
218
186
37
92
9
6,584
2,684
79
125
127
205
211
39
96
20
6,149
2,558
95
145
120
206
210
40
95
15
6,426
2,521
101
94
77
195
239
40
91
2
50,395
36,330
1,231
1,070
489
1,661
1,597
351
550
31
48,644
34,204
1,279
1,052
459
1,594
1,756
348
623
29
3,602
2,432
1,170
8,167
95
1,176
1,133
43
1,950
7
685
326
359
2,303
11
, 602
466
136
2,055
8
1,138
506
632
1,859
69
3,018
2,564
454
3,281
787
2,786
2,879
-94
3,736
111
(*)
(*)
(*)
(*)
_., i
-24,961
-26,848
-5,629
-6,784
-7,286
-7,149
-47,500
-10,838
-1,602
-443
-537
-589
-24
-47
-236
-79
-12,746
-815
-952
-1,001
-950
-247
-93
-454
-54
-13,046
-891
-903
-860
-855
-30
-98
-469
-55
-2,817
-254
-84
-207
-206
4
-26
-114
-9
-3,107
-189
-311
-284
-212
-10
-24
-117
-24
-3,427
-241
-338
-204
-231
-17
-24
-119
-13
-3,695
-207
-170
-165
-207
-7
-24
-120
-9
-1,044
-873
-172
-2,427
-1,352
-1,056
-668
-388
-2,277
-1,403
-1,199
-520
-678
-5,270
-1,182
-1,894
-1,068
-826
-6,428
-1,320
-104
-129
25
-1,475
-338
-496
-207
-289
-1,701
-309
-659
-333
-326
-1,691
-322
-634
-398
-236
-1,561
-351
-8
—7
— 17
(*)
(*)
(*)
68
6
-142
216
65
3
-129
197
99
-2
-126
227
90
-2
-120
212
260
309
73
72
83
82
-62
323
-70
379
-17
90
-17
88
-i?
99
-20
101
-13,038
-106
-7,076
173
-7,611
784
-10,882
434
-15,839
(*)
(*)
-28,922
-9,974
-4,902
-7,852
-6,194
-106
173
784
434
(*)
62
-33
96
-2
21
-69
97
-8
81
-18
85
14
169
14
174
8
133
—49
174
8
145
29
180
-7
-13
— 18
14
-9
19
—11
28
2
20
120
16
4
-12,995
-736
-437
-300
98
-7,270
164
60
104
-890
-8,476
934
671
263
-350
-11,485
-1,611
64
-1,675
-1,533
-15,972
-1,478
1,368
-2,846
156
-29,067
-2,024
-854
-1,170
-1,519
-9,961
-796
-752
-43
185
-4,921
-786
-428
-359
-611
-7,872
189
325
-136
-79
14
15
14
205
-12,561
15
8,080
14
117
-6,661
15
6,406
17
-229
-8,831
11,091
14
n.a.
15
-8,342
15
1,445
-16,095
1,785
9,208
14
n.a.
15
-25,115
24,563
15
14
-264
-9,086
III'
15
-3,616
9,177
14
92
6,236
15
-237
-7,745
8,497
1,011
685
326
1,075
839
236
8,338
6,168
2,170
3,157
2,975
181
1,084
785
299
476
580
-103
447
600
-153
-49
35
9
(IT)
(7
1)
(7
1)
(17)
(IT)
(7
1)
(7
1)
(7
1)
1,889
1,621
268
1,095
903
192
1,463
1,292
172
2,249
1,861
388
3,276
2,598
678
3,498
2,672
826
809
834
-25
603
315
289
()
"
858
14
720
14
-1,324
14
651
n.a.
-314
n.a.
14
14
537
14
-983
(7
1)
(7
1)
15
r 54
716
(7
1)
{
1,149
1,010
139
(7
1)
(IT)
(7
1)
(IT)
(IT)
(7
1)
1,920
2,360
452
1,240
267
n.a.
14
542
n.a.
65
66
67
68
69
401
115
I 64
(7
1)
794
159
n.a.
"4,434
"8,424
"-1,639
"3,476
"18,636
"7,235
"5,723
"6,918
2,602
-270
-1,949
7,916
3,030
5,083
-303
-1,206
409
6,183
1,129
3,814
2,253
2,288
2,363
2,356
1,576
876
943
940
168
-1,630
-1,528
-1,531
680
1,091
1,183
1,181
-327
3,341
3,601
3,601
-2,591
-1,033
-724
-724
-125
1,027
1,100
1,100
-423
-200
-128
-128
-869
-1,137
-1,054
-1,054
-1,174
-723
-642
-642
9,345
2,895
3,283
3,259
6,596
2,703
2,905
2,891
"-1,240 "-8,374 "-3,449
14
189
14
-359
14
"-3,100 "-1,418
"1,882
3,255
1,239
-2,604
2,198
999
1,048
1,042
1,840
844
889
886
838
-755
-690
-692
56
57
58
59
60
61
-20
( 62
(">
63
(7
1)
14
11
12
13
14
15
-3,331 { 55
445
"4,396
2,980
(IT)
18
(T
I)
-1,000
(7
1)
-85
645
-3
-1,367
15
(IT)
-31
(T
I)
-3,062
(7
1)
-154
2,743
15
-158
105
(7
1)
-3,379
58
()
"
-46
2,855
2,327
15
8
()
"
(T
I)
(T
I)
«
-10,772
-113
(7
1)
1,207
1,970
15
-73
(IT)
(7
1)
-3,473
36
23
(7
1)
706
652
15
(
8
c
10
r
n.a. ( 52
53
14
53
(IT)
(IT)
(T
I)
-4,668
14
452
r
32
(IT)
(7
1)
2,096
15
14
n.a.
426
2
J
i
i
(
16
(7
1)
(7
1)
(T
I)
14
n.a.
I
(7
1)
(7
1)
(17)
1,121
Line
II
- 1,708
28,302
12,419
353
535
430
817
832
128
354
45
1,992
1,692
300
2,859
299
1982
1982
1982p
1981
II
I
European Communities (6)12
United Kingdom
{
70
71
72
"-813 / 73
\
74
75
1,923
1,720
1,615
1,657
1,655
76
77
78
79
64
SURVEY OF CURRENT BUSINESS
March 1983
Table 10.—U.S. International
[Millions
Cana da
Eastern ] Europe
(Credits +; debits -)1
Line
1981
2
1 Exports of goods and services
.-, ..
. . .
2
Merchandise adjusted excluding military3
3
Transfers under U.S military agency sales contracts
4
Travel
5
6
Other transportation
7
Fees and royalties from affiliated foreigners
.
8
Fees and royalties from unaffiliated foreigners
9
Other private services
10
U.S. Government miscellaneous services
Receipts of income on U.S. assets abroad:
11
Direct investment
.
12
Interest dividends and earnings of unincorporated affiliates
13
14
Other private receipts
15
U S Government receipts
.
1982
19 32
p
I
IIIr
II
IV"
5,317
4461
4,402
3711
1,804
1,608
1,200
1022
533
373
865
708
60,449
45,250
119
2,624
53,471
39,071
103
2,567
169
139
33
36
36
35
25
93
4
6
23
(*)
6
23
(*)
6
24
2
6
24
1
794
980
64
512
19
764
971
68
524
40
2,757
2,085
673
6,572
34
22
85
4
452
124
382
48
114
20
99
13
89
3
80
12
4,072
2,303
1,770
5,986
29
— 1,810
— 1,292
—307
— 352
—366
—266
—53,245
—53,968
— 1552
-2
57
-28
105
1067
265
_1
2
288
—1
17
296
(*)
22
218
(*)
6
47316
-135
2033
-48,252
-174
1934
652
-269
14
-324
63
643
-246
15
-331
101
247
-184
-63
1995
-198
180
-178
-3
-1,807
-285
. ..
16 Transfers of goods and services under U.S. military grant programs) net
17 Imports of goods and services
. . .
Merchandise adjusted excluding military3
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 .. . .
18
19
20
21
22
23
24
25
26
27
28
29
30
31
1
-10
31
-3
47
94
23
24
24
23
^
-12
39
(*)
-3
7
(*)
-3
11
(*•)
-3
12
(*)
-3
9
23
_1
30
6
9
-8
7
33 Unilateral transfers (excluding military grants of goods and services), net
34
U.S. Government grants (excluding military grants of goods and services)
35
U S Government pensions and other transfers
36
Private remittances and other transfers
— 116
i
24
-91
—76
-35
55
-96
50
-4
76
-23
—41
-10
7
-25
—41
-15
-5
-21
-43
_7
9
-28
— 193
-217
-216
23
-234
17
37 U.S. assets abroad, net (increase/capital outflow ( ))
38
U S official reserve assets net4
39
Gold
40
Special drawing rights
41
Reserve position in the International Monetary Fund
42
Foreign currencies
1,044
442
414
—41
34
36
—8,359
-2,455
-182
489
346
-39
3
28
46
-20
-6
22
24
-9
17
2
15
4
-13
4
_1
—9
7
-7
-38
107
60
10
-112
156
65
-21
-862
445
420
-58
47
36
__1
(*)
-8,321
616
2,385
— 1770
-3,698
2,343
1,375
2,048
-673
-2,247
32 U.S. military grants of goods and services, net . . . .
....
43
44
45
46
U.S. Government assets, other than official reserve assets net
U S loans and other long-term assets
Repayments o n U.S. loans5 ...
. . .
U.S. foreign currency holdings and U.S. short-term assets, net
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
52
53
54
55
. .
.
56 Foreign assets in the United States, net (increase/capital inflow ( + ))
57
Foreign official assets in the United States net
58
U.S. Government securities
59
U S Treasury securities6
60
Other7
61
Other U.S. Government liabilities8.
62
U S liabilities reported by U S banks, not included elsewhere
63
Other foreign official assets9
.
.
.
.
.
.
.....
-103
i527
15
15
— 102
167
221
254
3,836
793
871
319
(17)
(17)
(17)
(17)
(17)
(16)
(16)
(*)
(*)
(*)
48
24
(17)
(17)
(17)
(17)
14
-824
15414
15
99
(17)
15
..
76
77
78
79
Memoranda:
Balance on merchandise trade (lines 2 and 18)I0
..
Balance on goods and services (lines 1 and 17)
Balance on goods, services, and remittances (lines 77 35 and 36)
10
Balance on current account (lines 77 and 33)
14
n.a.
14
14
-34
454
45
15
21
36
n.a.
- 1,063
- 4,176
15
- 3,906
I
72
73
74
75
See footnotes on page 61.
n.a.
(*)
1
, I
I
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)
70
71
(*)
14
-38
76
\
1
\
\
>
64
65
66
67
68
69
_1
(17)
(17)
I
J
1
I
1
(17)
(17)
2
22
22
"12
n.a.
"66
"75
"-110
2,424
3,576
1 858
2,909
3507
3,392
3392
2,644
3110
3069
3035
1343
1497
1550
1546
14
-14
(17)
(17)
(16)
3043
1,656
1593
63
(16)
1 190
-888
891
3
(17)
(16)
(16)
(*)
1
"21
(17)
1034
257
14
371
n.a.
-5
n.a.
"-216
"254
933
61
846
2 489
2 298
734
848
816
807
77
167
141
126
490
599
562
556
2066
7 204
7 Oil
7 Oil
9181
497
714
714
"147
14
(16)
(16)
65
SURVEY OF CURRENT BUSINESS
March 1983
Transactions, by Area—Continued
of dollars]
Japan
Latin American Republics and Other Western Hemisphere
Canada
1982
1982p
1981
I
II
III'
IV *
13,303
9,822
23
783
14,287
10,694
27
698
13,474
9,519
29
626
12,407
9,036
24
460
186
241
17
132
1
191
242
17
129
2
192
260
17
130
27
447
569
-122
1,647
5
530
557
-27
1,745
12
-12,770
1982
I
1981
I
IV"
III'
II
1982
1982 P
Line
mr
II
lyp
196
227
17
133
11
79,813
42,804
57
5,410
600
1,608
669
131
1,539
66
72,269
33,165
185
4,631
607
1,452
564
158
1,772
58
18,206
8,730
18
1,405
129
383
136
38
432
13
20,053
9,383
39
1,235
167
341
133
39
443
20
18,208
8,187
90
1,119
187
372
134
40
443
14
15,801
6,865
38
872
124
356
161
41
455
12
32,019
21,796
383
865
512
1,596
413
379
176
16
30,264
20,694
446
956
594
1,566
315
398
198
14
7,803
5,199
104
248
139
400
73
98
48
2
7,544
5,068
104
227
179
396
91
99
49
5
7,481
5,116
107
271
128
394
75
100
50
7
7,436
5,311
132
210
148
375
76
100
51
1
1
2
3
4
5
6
7
8
9
10
1,010
398
612
1,659
6
771
561
210
1,520
12
5,845
2,591
3,254
20,698
388
3,043
1,008
2,034
26,133
502
584
515
69
6,244
95
1,059
231
828
7,107
89
701
10
691
6,813
108
699
252
447
5,969
210
934
526
408
4,771
179
765
388
377
4,141
176
327
102
225
1,118
46
96
28
68
1,191
39
145
181
-36
1,039
48
197
76
121
793
43
11
12
13
14
15
25
80
17
15
22
26
.—1
(*)
(*)
-14,181
-13,815
- 13,202
-58,300
-61,492
-15,039
-15,423
-15,720
-15,310
-46,050
-46,051
-11,980
-11,932
-11,692
-10,448
17
-11,540
-40
-217
-12,674
-39
-478
-11,895
-33
-929
-12,143
-62
-310
—132
-85
-4
-81
-14
—171
-62
-4
-81
-14
—178
-56
-4
-84
-61
—163
-43
-4
-85
-12
-39,099
-324
-4,540
-353
—1,096
-41
-11
-1,461
-294
-38,561
-286
-4,985
-396
—1 055
-38
-11
-1,588
-418
-9,207
-85
-1,353
-101
—243
-11
-3
-391
-71
-9,262
-78
-1,201
-111
-266
-5
-3
-392
-88
-9,927
-58
-1,258
120
—286
-10
-3
-394
-120
-10,165
-66
-1,173
64
—259
-11
-3
-411
-138
-37,598 -37,685
-1,392
-1,107
-214
-271
-189
-218
—1 939 — 1765
'151
' 84
-40
-39
-89
-101
-60
-56
-9,993
-270
-47
-53
—418
16
-11
-24
-17
-9,647
-391
-108
-67
—440
39
-10
-25
-24
-9,586
-346
-64
-61
—476
51
-9
-26
-8
-8,459
-384
-52
-37
432
45
-9
-26
-7
18
19
20
21
22
23
24
25
26
-100
-26
-74
-481
-77
-95
-82
-13
-499
-63
-55
-132
77
-452
-69
70
62
8
-375
-76
-1,013
-526
-486
-9,774
-296
-518
-457
-61
-13,390
-247
-198
-98
-100
-3,312
-65
-118
-108
-10
-3,846
-53
-104
-114
10
-3,380
-61
-98
-137
39
-2,852
-68
-537
-363
-174
-1,250
-2,888
-56
-24
-32
-295
-812
-130
-63
-67
-351
-777
-148
-134
-14
-331
-688
-203
-141
-61
-273
-611
27
28
29
30
31
—25
—80
17
15
22
-26
-768
-93
-675
-1,035
-3,096
1
(*)
(*)
-53
-59
-54
-51
-431
243
-71
-117
-264
77
-56
-131
-12
-9
-23
-60
9
-319
-102
-70
-146
-48
-60
7
-272
-90
-65
-117
-91
-58
-1
-1,286
—512
-263
-511
-81
-56
3
-1,206
393
-236
-577
-26
-55
-9
-82
-7
-41
1
-12
5
-14
-8
-15
20
-89
402
-2,788
-44,663
-46,197
-2,093
-13,793
-18,295
-200
-12,388
632
-1,721
— 1,262
-6,801
—82
-343
-192
534
-30
-2,788
39
2,000
38
-90
—86
—200
—632
—1,262
—82
— 192
—30
—39
—38
—86
-41
-58
8
10
-25
-25
24
-23
-2
11
9
(*)
-45
-61
24
-8
-512
1659
1,169
-22
-1,471
-2780
1,305
5
-176
—439
253
10
-141
439
299
(*)
-1,186
— 1509
326
-3
33
—393
427
-2
-69
-141
72
-1
84
— 16
99
1
12
— 16
27
1
27
24
22
27
()
'
23
1
23
(*)
43
44
45
46
61
2,145
2,022
122
-894
-65
423
396
27
115
404
-783
-171
-612
-1,243
-2,743
-410
-200
-210
-225
-44,151
58
3,312
-3,254
27
-42,633
5,830
7,864
-2,034
95
-13,617
486
555
-69
242
-17,954
2,628
3,456
-828
327
-10,570
1,731
2,422
-691
-197
-491
985
1,431
-447
-278
-6,650
-506
-98
-408
35
-235
-107
270
-377
-1,060
553
-238
-13
-225
162
-2,775
305
372
-68
-80
2,013
-41
-77
36
-321
-26
-133
-12
-121
-821
47
48
49
50
51
n.a.
1477
14
14
2093
1
4
15
-2,759
-1,203
-750
(6
1)
6
14
14
1,569
121
745
15
-1,348
1
5
2,309
14
n.a.
15
-2,108
879
-58
391
483
804
6
(6
1)
(16)
15
-241
-43,995
(6
1)
21
3
(16)
-92
292
369
-77
31,410
„
15
-49,948
29,226
1,340
15
-15,686
-5,823
15
15
618
552
15
-2,817
1,955
/ 54
928 { 55
15
(17)
(17)
(7
1)
(17)
(7
1)
(17)
(17)
(17)
(17)
17
(17)
154
134
-75
78
26
-195
-165
187
-136
-81
(7
1)
(7
1)
(7
1)
(7
1)
(7
1)
(7
1)
(7
1)
310
349
-39
2,662
1,988
675
1,891
1,717
174
146
114
32
842
775
67
535
521
14
369
308
61
(IV)
86
(6
1)
(7
1)
'•(")
(7
1)
(17)
1,307
821
486
310
249
61
93
-7
100
203
193
10
-296
-286
-10
(7
1)
(17)
(7
1)
(7
1)
(17)
97
450
12
166
(6
1)
81
160
-58
n.a.
14
122
n.a.
(6
1)
(6
1)
"29,799
"866
2,8
"13,600
14
37
38
39
40
41
42
-2,448
(6
1)
-394
()
"
{
{
56
57
58
59
60
61
62
63
64
65
66
67
68
69
(17)
(7
1)
(17)
(17)
(17)
(17)
(17)
7
266
292
27
104
-55
-265
242
-215
n.a.
159
n.a.
14
14
f 70
n.a. t 71
"11,765
"20
"3,301
"5,382 "-4,696
14
235
14
14
14
-355
156
18
"1,783 "-3,110
703
-837
-399
2,830
-7,053
7,479
-2,429
1,480
10,890
-2,462
12,392
19,375
2,177
9,304
-1,718
533
480
480
-1,980
106
47
47
-2,376
-341
-395
-395
-3,107
-795
-846
-846
3,705
21,513
20,699
20,306
-5,396
10,777
10,003
9,491
-477
3,167
2,984
2,895
121
4,630
4,414
4,312
-1,740
2,488
2,300
2,057
-3,300
492
305
228
-15,802
-14,031
-14,112
-14,112
-16,991
-15,787
-15,878
-15,878
-4,794
-4,177
-4,225
-4,225
-4,579
-4,388
-4,399
-4,399
15
-102
(6
1)
(6
1)
15
-2,118
-70
, )
( 6
-1,198
33
34
35
36
f 52
n.a. { 53
1,513
-7
(
15
420
-3,154
798
-51
-44
-8
(16)
87
14
-12,879
-183
8,522
(6
1)
48
15
-356
3,955
937
57
44
13
14
-20,185
14
n.a.
775
-559
(6
1)
-93
15
14
-724
32
12,503
13,328
-453
-1,186
-1,260
74
14
14
1
4
n.a.
16
17
r 72
-391 "-2,978 { 73
74
2,322
75
5,572
-4,470
-4,211
-4,220
-4,220
-3,148
-3,012
-3,034
-3,034
76
77
78
79
SURVEY OF CURRENT BUSINESS
66
March 1983
Table 10.—U.S. International
[Millions of
Australia, New Zealand, and South Africa
(Credits +; debits -) 1
Line
1982 P
1981
2
1982
I
Ulr
II
IV"
13,491
8,998
371
320
216
382
377
71
267
3
10,926
7,656
134
351
197
352
341
81
268
5
2,923
2,022
35
66
36
89
82
20
67
1
3,141
2,245
35
115
48
89
86
20
68
(*)
2,588
1,868
38
106
68
89
85
21
67
3
2,273
1,521
27
64
45
85
88
21
66
1
1,910
1,038
872
558
18
838
938
101
680
23
361
245
116
141
4
226
304
78
202
7
81
217
137
157
6
170
172
-2
180
6
-6,913
-6,535
-1,477
-1,503
-1,782
-1,772
-5,608
-48
351
-224
-292
1
-1
-38
-38
-5,032
-48
-379
-256
271
-3
-1
41
-45
-1,135
-7
139
-55
64
(*)
(*)
-10
-8
-1,192
-16
41
-59
-67
-1
(')
-10
-7
-1,367
-16
77
-82
-74
-1
(*)
-10
-22
1,338
-10
122
-60
-66
1
(*)
-10
-8
-48
-43
-6
-107
-159
-7
-27
20
-122
330
-3
-6
3
-28
29
6
—2
7
-31
84
(*)
-9
9
-37
97
10
-10
(*)
-28
-120
-59
(*)
-14
-45
-70
(*)
-15
-56
-17
(*)
-4
13
-18
(*)
-4
14
-17
-19
-4
13
-4
-16
-2,128
-1,381
-668
-614
-766
-79
-97
33
-15
-45
-63
45
-27
-40
-11
5
34
-20
-27
18
11
-16
-8
6
14
32
17
17
32
-2,050
964
-92
872
-27
1 Exports of snoods and services
2
Merchandise adjusted excluding military 3
3
Transfers under U S military agency sales contracts
4
Travel . . .
5
Passenger fares
6
Other transportation
7
Fees and royalties from affiliated foreigners
8
Fees and royalties from unaffiliated foreigners
9
Other private services
10
U S Government miscellaneous services
Receipts of income on U.S. assets abroad:
11
Direct investment
12
Interest, dividends and earnings of unincorporated affiliates
13
Reinvested earnings of incorporated affiliates
14
Other private receipts
15
U.S. Government receipts
-1,336
171
71
101
-376
628
-274
-158
-116
-18
-594
-128
-206
78
-2
749
-40
-177
137
-382
634
613
611
2
27
.
16 Transfers of goods and services under U S military grant programs net
17 Imports of goods and services
18
19
20
21
22
23
24
25
26
27
28
29
30
31
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 U S military grants of goods and services net
33 Unilateral transfers (excluding military grants of goods and services) net
34
U S Government grants (excluding military grants of goods and services)
35
U.S. Government pensions and other transfers
36
Private remittances and other transfers
37 U.S. assets abroad, net (increase/capital outflow ( — ))
38
U S official reserve assets net 4
39
Gold
40
Special drawing rights
41
Reserve position in the International Monetary Fund ..
42
Foreign currencies
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
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
52
53
54
55
...
,
I
72
73
74
75
76
77
78
79
Memoranda:
Balance on merchandise trade (lines 2 and 18)
. ...
Balance on goods and services (lines 1 and 17)10
Balance on goods, services, and remittances (lines 77, 35, and 36)
Balance on current account (lines 77 and 33) 10
.
See footnotes on page 61.
14
-56
15
1 002
14
n.a.
15
1 1 -1 K
40
14
7
-376
is 456
15
14
15
50
n.a.
277
15-6
315
4,931
203
2,821
283
1,624
)
(")
(17)
(17)
(17)
(17)
(17)
'
.
288
128
21
45
36
26
(17)
(17)
(17)
(17)
(17)
124
144
20
63
70
7
9
(17)
5
8
3
(17)
(17)
(17)
65
65
(*)
(17)
-46
.
(17)
283
277
6
J
Other foreign assets in the United States, net
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)
70
71
..
|
56 Foreign assets in the United States, net (increase/capital inflow (+))
57
Foreign official assets in the United States net
58
U.S. Government securities
59
U S Treasury securities 6
60
Other 7...
61
Other U S Government liabilities 8
. . .
62
U S liabilities reported by U S banks not included elsewhere
63
Other foreign official assets 9
64
65
66
67
68
69
666
134
13
43
13
65
(17)
-9
}
n.a.
14—29
14
M2
1
"302
"4,558
"194
"2,656
"240
"1,468
-4,705
.
-„
14
-7,871
-965
-3,828
-306
2 772
3,390
6,578
6,519
6,519
2,624
4,391
4,321
4,321
887
1,446
1,429
1,429
1,053
1,638
1,620
1,621
501
806
789
789
183
501
482
482
n.a.
March 1983
SURVEY OF CURRENT BUSINESS
67
Transactions, by Area—Continued
dollars]
International organizations and unallocated13
Other countries in Asia and Africa
1982
1982
1982 P
1981
I
1982 '
IIIr
II
IV*
73,122
47,832
6,036
797
485
2,366
661
129
1,318
216
74,815
46,971
8,773
808
425
2,633
553
146
1,434
207
18,830
12,079
2,038
200
93
608
139
35
350
40
19,796
12,375
2,445
199
91
693
113
36
357
65
18,586
11,481
2,134
275
149
679
138
37
363
58
17,604
11,036
2,156
134
92
653
164
37
365
44
6,439
5,001
1,438
5,247
1,596
5,758
4,508
1,249
5,266
1,842
1,546
1,161
385
1,284
417
1,582
1,314
268
1,402
439
1,405
1,161
244
1,350
519
1,225
873
352
1,231
467
451
190
36
27
75
-81,251
-21,409
-19,244
-21,781
-18,818
80097
-3,188
1 142
-287
-1,639
343
-5
-311
-486
-63,837
-3,167
-1,294
-330
-1,550
405
-4
-343
-546
17 277
-794
302
_77
-372
98
-1
-85
-119
-14,678
-815
395
-72
-392
97
__1
-86
-145
-17,452
-809
265
-91
-405
90
1
-86
-148
-14,430
-748
-332
-90
-380
121
-1
-87
-134
-171
175
5
-3,558
-4,755
-416
318
-97
-3,648
-6,523
-94
50
-44
-894
-1,491
-148
-106
-42
-1,010
-1,599
-67
-94
27
-923
-1,623
106
67
-39
-821
-1,810
Line
IIIr
II
IV P
1
2
3
4
5
6
7
8
9
10
2,942
23
3,576
871
854
942
910
88
37
34
9
7
1,395
-268
1,369
-202
338
-52
346
-69
350
-51
336
-31
729
4
894
4
212
1
222
1
229
1
232
1
799
187
612
347
-87
770
354
415
528
126
161
43
118
115
58
179
70
109
137
4
226
114
112
114
64
203
127
76
162
11
12
13
14
15
-3,567
-3,636
-859
-821
-94
-1,012
17
16
53
-95,295
I
-23
-23
-62
-2,311
-62
-1,974
-19
-490
-490
-ib
-16
-520
-17
-474
-1
-478
-1
-555
(*)
-101
(*)
-52
(*)
-156
(»)
-246
18
19
20
21
22
25
24
25
26
27
28
29
30
31
-105
-611
-252
-770
-32
-217
-51
-194
-86
-166
-82
-193
-684
-665
-164
-164
-154
-135
-237
-237
-129
-129
33
34
35
36
37
38
39
40
41
42
-451
-190
-36
-27
-75
-53
-,0
420
-3,151
299
-751
-5,030
-3,725
-328
-977
-1,384
-1,068
78
-239
-1,110
-809
83
-219
-862
-544
80
-239
-1,673
-1,305
-88
-281
-789
-778
-11
-20
-12,811
-18,059
-3,946
-,6
609
-3,235
-4,809
-6,159
-4,314
-5,697
3924
-678
-947
-1,729
1 055
-1,547
-892
-1,744
-1,030
-1,824
2491
-1,371
2552
-400
547
-241
814
-434
459
-297
-732
32
-20
-3,357
-5,207
1,592
258
-3,640
-5,417
1,676
101
-507
-840
347
14
-1,143
-1,547
363
41
-1,199
-1,605
379
27
-791
-1,425
587
47
-826
-831
5
-764
-790
27
-166
-169
3
-207
-229
22
-195
-195
-197
-198
1
43
44
45
46
-9,454
-3,136
-1,698
-1,438
-254
-14,418
-2,882
-1,632
-1,249
-794
-3,439
-2,161
-1,776
-385
-298
-4,926
-312
-44
-268
-79
-2,036
-899
-655
-244
-252
-4,017
490
842
-352
-165
-1,019
-171
442
-612
-888
-1,010
-50
365
-415
-907
435
369
487
-118
65
-467
-324
-215
-109
-143
-461
-55
57
-112
-353
-517
_41
35
-76
-476
47
48
49
50
51
"-262
n.a.
14
173
14
n.a.
14 J
n.a.
{52
1 53
- 4,362
15
-54
(*)
15
~ 5,802
19,292
15
- 11,015
14
642
15
- 1,623
16
n.a.
-197
1
5
1,564
1,970
1,670
14
610
-13
-674
-9
(7
1)
14
-13
1,656
623
(7
1)
(7
1)
(17)
(7
1)
(7
1)
79
63
70
25
85
4,288
(7
1)
(7
1)
310
57
80
()
"
(7
1)
(7
1)
2,989
294
,9
-5
()
"
362
857
760
97
107
63
44
(7
1)
(17)
(7
1)
(7
1)
256
51
122
5
706
n.a.
-781
14 j ] 4
^
-940
n.a.
"16,337
"13,035
",6
400
",8
509
"2,102
"1,784
14
-166
-53
(*)
-1,457
-1
-651
5
478
-7
-9
-1
5
-7
-665
1,458
-656
485
-1
( >
127
15
(7
1)
(7
1)
(7,
1)
388
346
42
270
297
-27
92
53
39
1
4
(7
1)
-126
n.a.
19,893
18,185
4,393
2,339
5,727
5,725
"1,593
1,093
4,810
-32,265
22 174
-23,223
-26,374
-16,866
-6,436
-7,741
-11,466
-5,198
-2,579
-2,896
-3,963
-2,303
552
251
-559
-5,971
-3,195
-3,513
-4,057
-3,394
-1,214
-1,582
-2,887
23
-626
-637
-1,415
15
17
3,516
14
15
1540
(7
1)
()
"
15
-4,342
-688
11,339
"553
5,832
23
-60
-79
-744
(7
1)
86
n.a.
"-689
( 54
I 55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
| 70
t 71
I 72
"1,373
"-530
"399
1,504
393
2,439
1,497
'5
75
12
12
-153
-23
33
14
-121
-3
-3
-240
-102
-102
-231
76
77
78
79
68
SURVEY OF CURRENT BUSINESS
United States, the increase in U.S.
banks' liabilities to the United Kingdom (other than custody liabilities)
was sharply higher (about matching
the step up in U.S. banks' claims on
the United Kingdom). U.S. liabilities
March 1983
to Caribbean branches increased less
in 1982 than in 1981; some of the
slowdown was related to the change
in booking.
The other one-half of the step-up
was an increase in liabilities to Swit-
zerland and other European countries, reflecting the demand for
dollar-denominated assets.
Net foreign purchases of U.S. securities other than U.S. Treasury securities decreased $1.1 billion to $6.0 bil-
Table I.—Selected U.S. Transactions With OPEC Members
[Millions of dollars]
1972
(Credits +; debits -)
1974
1973
1979 r
1978 r
1976
1975
1977
11,561
2,865
12,877
4,318
1981 r
1980 r
1982*
Exports of goods and services:
2,551
Merchandise adjusted excluding military
Transfers under U.S. military agency sales contracts
Fees and royalties from affiliated foreigners
Fees and royalties from unaffiliated foreigners
Other private services
US. Government miscellaneous services
3414
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
657
141
11
146
7
2751
2,660
91
3928
3,789
139
6,219
1,258
181
14
253
7
6106
5,671
435
9,956
1,765
184
20
372
8
3717
2,650
1,067
166
87
330
105
332
118
-2,974
-5,097
-17,234
105
(*)
(*)
16
-34
75
(*)
(*)
-20
-34
-18,897
— 141
(*)
(*)
(*)
(*)
85
76
14,537
3,066
14,846
4,734
201
25
799
18
284
31
948
32
3,498
4,060
-562
3360
3,088
272
3142
2,727
415
405
117
489
134
841
135
-27,409
-35,778
—790
-33,286
1455
209
29
590
22
21,093
3,329
17,368
2,875
256
31
589
37
20,647
4,926
152
49
744
28
239
50
726
28
(D)
45
758
34
4514
4,295
219
1,206
2569
2,350
219
1,561
4132
3,517
615
3,820
2,238
2,650
-45,039
1837
-55,602
1649
-49,934
-31,517
-1,663
(D)
(D)
(°)
(°)
-106
-84
(D)
(D)
-120
92
45
-50
5
-321
-217
-104
-3,113
3901
-3,440
-5,821
154
3,196
624
175
168
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
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 Government pensions and other transfers
-52
19
44
-2
-996
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
-214
-408
U.S. private assets, net
Direct investment abroad
Equity and intercompany accounts
Reinvested earnings of incorporated affiliates
Foreign securities
240
(*)
(*)
-20
34
(*)
(*)
-22
-40
441
(*)
(*)
-31
-60
(*)
(*)
-57
-61
4
(*)
-79
-70
2
(*)
-92
-70
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....
.
..
.....
-73
—5
—11
5
6
27
-38
_8
-3
-574
-650
-6
1
-655
-816
-6
12
-788
1093
-23
4
-1,096
— 1271
^41
8
-1,646
— 1382
-47
10
-2,415
2408
35
-2
46
-3
41
-3
26
_4
31
-4
25
_4
33
-15
44
-16
52
_7
41
-6
5,912
-4,225
-1,821
-1,332
-4,527
-1,672
237
-3,130
-6,375
-211
-436
-44
-256
-107
-412
-179
-465
-185
-437
252
(')
46
-197
243
(*)
-2,945
6,421
-932
-308
624
-247
-103
702
-391
-594
-261
-467
212
-39
-317
49
205
229
(*)
-2
—4
(*)
-6
9
-11
1,093
1,667
1806
-139
6,123
7,121
7,556
-435
-4,181
-3,022
-1,955
-1,067
-1,560
-305
—867
-1,293
-4,420
-925
-318
-252
-365
-1,493
-1,783
1,564
-219
-126
57
9
-782
-294
.
— 115
-5
(")•
-451
-276
194
203
91
g
-31
80
175
-210
1721
9
-35
123
5
341
207
45
212
32
230
-5
562
35
102
61
76
316
269
2
274
-272
18
510
-415
164
63
78
44
415
113
(')
277
489
2,116
-219
321
258
}
-572
43
-615
130
2,335
— 209
2
— 202
15,177
12748
15,098
13,314
2,179
1089
1023
9,567
2
2_244
7,057
5,508
2
10,155
4,528
404
229
-218
-581
-638
-1,255
-713
565
362
1,026
720
11,499
10455
7,924
6937
10,837
9084
7324
6369
1,074
U.S. Treasury securities
Other U S. securitiesOther U S Government liabilities
U.S. liabilities reported by U.S. banks, not included elsewhere:
Long-term ..
Short-term
184
—26
141
50
2
281
5,473
1,191
2,426
3199
944
3,206
3005
2480
3,477
2938
-2,602
1620
23
597
36
514
41
801
360
4,057
-170
1,278
Direct investment in the United States
Equity and intercompany accounts
Reinvested earnings of incorporated affiliates
18
-18
2
2
111
111
(*)
32
-35
3
6
-5
1
— 12
Foreign assets in the United States (increase/capital inflow (+))
Of which' foreign official
133
338
139
390
47
362 J,
10
2
3
934
3
111
107
4
5,088
4,691
630
3
—1,127
7,268
-333
460
723
3
285
275
10
20
12
8
9,461
7,176
3
— 1,838
4,289
907
803
104
2864
2,869
5
U.S. liabilities to unaffiliated foreigners reported by U.S. nonbanking concerns:
Long-term
..
Short-term
(*)
-8
5
150
80
413
7
749
78
592
19
101
All other transactions with OPEC and transfers of funds between
foreign areas net
2512
4881
13,575
208
1135
10383
16505
20386
21 173
14638
6366
423
1,683
11,015
—8941
15848
22901
18,440
30,502
38234
28841
10870
Memorandum:
Balance on merchandise trade
D
.....
Suppressed to avoid disclosure of data of individual companies.
Revised.
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. Individual counr
p
3
139 \
2
-296
2
1,131
2
-1,334
2
-3,130
try 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.
March 1983
lion, reflecting a $1.3 billion drop in
stock purchases from the record 1981
level. Most of the decline was from
Canada
and
Western Europe.
Throughout most of the year, foreign
purchases were small, partly due to
the attractive yields available on debt
securities; even after the August-October rise in stock prices, foreign investors stepped up their purchases only
slightly. In December, foreigners purchased a record amount of U.S.
stocks. Much of the increase was from
the United Kingdom, whose purchases had been strong all year.
SURVEY OF CURRENT BUSINESS
Other Western European countries
sold a net $0.8 billion of stocks, after
more than $1.5 billion in purchases in
1981.
Net foreign purchases of outstanding U.S. bonds were $1.8 billion, compared with $1.7 billion in 1981. Purchases were especially strong in the
first half of the year when U.S. interest rates were high—purchases by
West Germany more than accounted
for the rise in net purchases by Western Europe.
Capital Inflows on foreign direct investment in the United States
69
dropped to $9.4 billion from $21.3 billion. If the extraordinarily large 1981
transactions related to a Middle East
acquisition of a U.S. petroleum construction and drilling company, a
French acquisition of a U.S. mining
company (and the sale of that company's Canadian affiliates), and a British acquisition of a U.S. bank are excluded, there was only a moderate decrease from year to year in equity
and intercompany account inflows.
Reinvested earnings decreased to $1.1
billion from $4.1 billion, reflecting the
U.S. recession.
U.S. GOVERNMENT PRINTING OFFICE : 1983 0 - W1-Q10 : QL 3
Announcing the
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The State and Metropolitan Area Data Book, 1982, packs
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located in SMSA's, 50 States, 4 census regions, 9 census divisions, and the District of Columbia.
It presents 320 data items for the SMSA's and NECMA's; 73
items for the central cities of SMSA's; and 2,018 items for the
United States, regions, divisions, States, and the District of
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Featured are new data from the 1980 Census of Population
and Housing, including 1979 income data for families and
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CURRENT BUSINESS STATISTICS
THE STATISTICS here update series published in the 1979 edition of BUSINESS STATISTICS, biennial statistical supplement to the SURVEY OF CURRENT
BUSINESS. That volume (available from the Superintendent of Documents for $9.50, stock no. 003-010-00089-9) provides a description of each series, references to
sources of earlier Figures, and historical data as follows: For all series, monthly or quarterly, 1975 through 1978, annually, 1947-78; for selected series, monthly
or quarterly, 1947-78 (where available).
The sources of the series are given in the 1979 edition of BUSINESS STATISTICS; they appear in the main descriptive note for each series, and are also listed
alphabetically on pages 171-172. Series originating in Government agencies are not copyrighted and may be reprinted freely. Series 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 1978 and descriptive notes are as shown
in the 1979 edition of BUSINESS STATISTICS
1981
1982
Annual
1982
Jan.
Feb.
Mar.
Apr.
May
June
1983
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
GENERAL BUSINESS INDICATORS
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....
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 §
.... ... . percent
Disposable 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..
INDUSTRIAL PRODUCTION
Federal Reserve Board Index of Quantity Output
Not Seasonally Adjusted
Total index
1967=100..
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
See footnotes at end of tables.
2,415.8
1,493.9
510.8
386 4
3614
3386
283.1
1404
2,569.9
1,560.7
509.9
3826
3760
372 5
302.3
1538
240
100.7
190
101.3
2,499 1 25138 25186 25355 25562 25663 25883 25920 25972 r2 609 4 r2 627 7 '2 635 0 '2 640 2 2643 1
1,535.7 1,546.6 1,542.6 1,546.6 1,560.4 1,562.9 1,569.5 1,570.3 1,570.1 1,571.5 1,572.2 '1,579.9 '1,595.5 1,593.8
513.5
517.1
511.6
514.1
512.2
515.1
510.3
507.3
513.0
503.0
500.9 '500.7 '509.0
508.3
3837
3876
3839
3841
3864
3867
3840
3815
3772
3858
3755 '374 5 '380 0
381 8
369 7
3730
371 4
372 5
376 9
3768
378 1
378 9
378 2
3783
377 6 '380 6 '381 9 380 1
357 0
360 1
363 7
361 4
370 7
3685
374 3
3782
381 0
382 7
384 5
387 7 '392 7
3922
295.4
296.4
297.6
298.8
300.0
301.2
302.8
304.2
303.6
307.5
310.8 '311.9
309.2
313.2
148 0
149 1
151 3 1525
1502
153 6 154 6
155 5 1565
157 2
1579
158 7 '159 6
160 6
199
98.6
17 3
98.4
16 3
98.8
169
993
17 3
1003
180
1002
17 3
1009
166
1017
16 0
1025
17 1
1042
r
27 7
1053
'27 5
'1049
'18 9
'1079
17 9
1098
339
625
3290
3363
104.9
2,364 1
34 g
344
342
34 1
337
339
340
341
346
343
34 5
34 7
325
352
35 3
670
65 6
65 9
65 9
66 1
66 1
662
67 3
68 4
666
67 7
69 3
68 9
69 7
69 8
3712
3598
3555
3638
3680
376 0
3720
377 6
378 3
3788 r3760 '3740 '373 8 '374 6
376 1
3524
3747
3538
3639
357 5
3669
3648
379 7
3802
3833
3927 '399 6 '401 3 '395 2
395 7
111.7
110.3
110.9
110.6
110.8
111.7
111.6
112.5
112.4
112.4
112.4
'112.8
112.4
116.4
116.0
2,518.8 2,448 6 24655 24708 2 486 8 25069 25160 25385 25428 25485 r2 559 4 '2 567 0 '2 574 4 '2 587 5 25923
24158
386.7
2,029.1
1,8989
1,843.2
2346
734.5
8741
2 569 9
397.2
2,172.7
2,030.5
1,971.1
2427
762.1
9663
2499 l
389.9
2,109.2
1,965 8
1,907.4
2347
7460
9267
551
586
577
577
06
1302
08
1422
08
1434
08
1306
64
65
67
66
2 513 8
396.3
2,117.5
1 986 9
1,928.3
2401
7559
9323
25186
394.2
2,124.4
1981 1
1,922.4
2388
7454
9382
r
25355
389.1
2,146.3
19939
1,934.8
2388
7470
9491
2556 2
403.7
2,152.5
20131
1,954.0
2456
7592
949 1
25663
410.7
2,155.6
20144
1,954.7
2378
7589
958 0
2588 3
393.5
2,194.8
20338
1,974.1
236 8
767 9
9694
25920
395.3
2,196.7
20413
1,981.5
2366
7677
9773
25972
394.6
2,202.7
20631
2,003.2
2476
7695
9860
579
582
58 3
58 8
589
589
59 1
'60 3
60 4
09
1433
09
1524
09
1394
09
141 2
08
161 0
08
1554
08
1395
08
r
!36 6
'0 8
'1329
'08
'1308
'1 0
'1250
10
124 5
67
68
67
68
70
69
65
62
'60
'5 8
57
2 609 4
397.5
'2,211.9
075 3
2,015.5
2407
7772
r
9976
r
2
r
'2 627 7 '2 635 0
399.0 '402.6
'2,232.3
2 095 8 '2 101 5
'2,035.9 '2,041.1
255 6 '259 1
7739 '7761
'1 006 4 '1 006 0
59 g
590
592
r
r
2,228.7
r
'2 640 2
'400.6
'2,239.6
'2 114 7
'2,053.5
'258 5
'778 4
'1 016 5
2 643 1
403.0
2,240.1
2 1156
2,054.2
256 4
776 4
1 021 3
1 043 1 1 0548 1 0429 1 047 7 1 050 0 1 0576 1 058 1 1 048 8 1 060 8 1 058 0 1 056 1rl 053 5 rl 061 1 '1 062 6 1 062 5
947.7
1400
3624
4452
956.9
1388
3650
4531
943.1
1354
3595
4482
954.1
1390
3655
4496
950.1
1380
3614
4507
953.4
1377
3627
4530
960.5
141 5
3678
451 2
951.0
135 8
3629
4523
954.1
134 9
366 1
4532
954.4
134 5
3660
4539
960.4
140 0
3655
454 9
'960.0
136 3
367 4
'456 2
'969.3
145 5
366 4
'457 5
'971.6
'146 7
'3689
'456 0
974.2
146 1
370 2
457 9
194.5
206.0
202.2
202.1
202.3
202.9
203.4
205.5
206.9
207.6
208.6
210.0
'210.0
'210.1
2108
151.0
138.6
136.6
142.7
142.0
139.4
138.5
141.8
136.2
140.5
141.2
138.5
134.8
'131.3
P
e
P
e
P
131 2
P
149 2
P
e
!37 0
e
!55 4
e
133.0
!37.3
1550
1504
1648
1405
1463
137.6
1562
1247
1643
1331
147 1
1234
1597
1407
1566
1297
1527
1407
1566
1297
1467
1384
1547
127 1
1424
1380
1545
1266
1439
141 6
1599
1289
1446
135 1
1529
1227
1468
1393
161 9
123 7
140 1
141 2
164 1
1254
136 7
1388
162 4
1225
'1364
1345
'155 7
119 9
'141 0
'1297
'147 9
'117 1
1510
1386
1407
1429
1417
1402
1392
1387
1388
1384
137 3
1357
'134 9
'135 2
P
e
1506
1495
1479
141 8
1415
1426
1429
1428
1396
144 6
1441
141 8
1437
1433
141 5
1429
1426
142 1
142 3
1422
143 6
142 1
142 1
144 8
142 6
1425
145 8
142 0
141 2
144 1
140 8
1400
143 4
139 3
1387
142 2
139 0
'138 3
'140 0
'139 5
p14fl Q
P
e
!41
e
PI jo 7
el A A A
rl X I Q
'14.9 1
146 4
118 7
136 9
140 1
!43 4
!24 2
!37 3
1
!40 2
S-l
S-2
SURVEY OF CURRENT BUSINESS
Unless otherwise stated in footnotes below, data
through 1978 and descriptive notes are as shown
in the 1979 edition of BUSINESS STATISTICS
1981
1982
Annual
March 1983
1982
Jan.
Feb.
Mar.
Apr.
May
June
1983
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
GENERAL BUSINESS INDICATORS—Continued
INDUSTRIAL PRODUCTION—Continued
Seasonally Adjusted— Continued
By market groupings—Continued
Final products—Continued
Durable consumer goods
Automotive products
Autos and utility vehicles
Autos .....
Home goods
...
1967—100.
do....
do....
do....
, ...
.... do...
Nondurable consumer goods
Clothing
Consumer staples
Consumer foods and tobacco
Nonfood staples
do,...
do
do
do,.,.
do....
Business equipment
Industrial equipment # .,...,...,
Building and mining equip.
Manufacturing equipment
do ,
do....
do....
do....
Commercial, transit, farm eq. #
Commercial equipment
Transit equipment
do..,.
do,.,.
do....
Defense and space equipment.
Intermediate products
Construction supplies
Materials
.
..
do....
do ..
do...i
•
.,
do..,,
Nondurable goods materials
By industry groupings:
Mining and utilities
Mining
....
do....
... do,...
do,.,.
..
Coal
.
Oil and gas extraction $
Crude^bil
..
.....
do..,.
do,...
do
Stone and earth minerals
do..,.
Utilities ... .„...„....
Electric
.,,
do...,
do...,
Nondurable manufactures
Foods
do....
do
T t"1
jLextiie
11
ri tmm p a era
.,
do
Printing and publishing
do..,.
Petroleum products
Rubber and plastics products
do .
do....
Durable manufactures
Ordnance, pvt, and govt
urn e an p
Clay, glass, and stone products
Primary metals
..
do..
do,...
do..,.
do....
. ...
Nonferrous metals
.. .
Fabricated metal products
Nonelectrical machinery
... ,
Electrical machinery
...
Transportation equipment
.,.,,
Motor vehicles and parts
..
..
do.. .
do...
do...
do..
do...
do...
140.5
137.9
111.2
103.4
142.0
150.9
119.8
159.5
150.3
170.0
151.8
181.1
166.4
286.2
127.9
198.0
258.7
125.4
102.7
154.4
141.9
166.7
151.6
149.1
174.6
129.0
155.0
142.2
123.1
141.3
146.8
95.1
111.8
129.4
169.1
190.9
150.4
164.8
152.1
122.2
135.7
120.4
155.0
144.2
215.6
129.7
274.0
69.3
140.5
81.1
119.1
157.2
147.9
107.9
99.8
122.4
136.4
171.2
178.4
116.1
122.3
170.3
P
129.3
129.5
99.0
86.6
129.2
148.0
120.1
109.2
71.6
61.3
126.3
147.4
125.9
117.5
82.0
70.5
130.6
148.1
128.1
125.0
93.6
79.8
129.9
146.8
130.7
129.9
100.5
87.2
131.1
146.6
132.6
138.9
111.8
96.1
129.1
147.9
134.6
143.0
117.1
101.9
129.9
148.8
137.3
149.7
127.7
114.6
130.4
149.1
132.9
135.5
107.1
93.3
131.4
148.6
131.3
135.5
105.8
94.3
128.9
148.2
126.5
123.6
89.6
79.5
128.1
148.5
'124.6
120.7
86.9
77.7
'126.2
'128.7
99.0
87.9
'126.8
'124.9
'147.9
'148.5
P
159.0
149.7
169.7
139.8
157.9
135.0
214.2
107.2
184.4
253.5
103.8
109.4
143.3
124.3
162.2
133.7
125.0
157.5
125.2
158.9
150.0
169.1
147.2
172.2
158.1
289.0
116.9
188.5
256.1
109.0
105.2
143.4
124.2
162.4
137.2
129.7
156.8
130.9
159.2
151.1
168.7
147.3
171.6
155.9
274.9
116.8
189.9
256.4
110.4
106.5
146.3
127.5
165.1
140.4
132.4
164.2
130.3
158.1
149.6
168.0
145.9
169.0
151.2
256.9
116.3
189.5
257.8
110.5
107.0
145.2
125.6
164.6
138.5
130.7
162.0
128.2
158.3
148.1
170.0
143.4
164.9
145.9
242.2
114.0
186.9
253.1
110.9
107.2
143.7
123.6
163.7
136.2
128.1
160.3
125.8
159.0
149.9
169.5
140.4
159.9
138.9
224.4
109.7
184.1
247.7
110.9
107.7
142.6
122.2
162.8
134.3
126.6
156.6
125.4
159.9
150.9
170.4
138.4
156.7
134.0
209.0
107.5
183.0
247.5
108.3
107.6
141.9
123.1
160.6
133.5
126.6
153.5
125.4
159.7
149.9
171.2
138.0
154.9
131.3
200.4
106.0
182.2
248.8
106.3
109.5
142.8
124.1
161.4
133.0
126.0
152.3
126.0
159.4
149,6
170.8
137.3
153.9
128.4
190.8
104.4
183.3
253.5
102.0
109.5
144.7
127.1
162.1
132.8
125.1
154.5
124.5
158.8
148.6
170.7
135.2
150.5
123.8
182.1
101.6
181.4
254.0
95.5
109.5
143.7
125.5
161.8
132.0
123.0
158.5
121.0
159.1
150.2
169.5
134.0
147.1
118.3
169.3
98.0
180.5
253.5
93.2
111.9
141.6
122.5
160.5
130.0
118.5
158.2
122.6
'158.1
149.0
'168.7
'158.8
'149.9
'169.2
"158.9
P
150.0
P
169.2
'134.2
'146.4
'117.2
'165.7
97.5
180.2
254.8
92.3
P
135.2
P
146.7
P
113.6
'141.8
123.4
'160.1
'135.9
'148.3
'118.3
'172.7
'97.0
'182.9
'258.6
'95.2
'115.0
'141.9
'122.8
'160.9
P
115.9
"143.7
"125.6
"161.7
116.3
144.4
e
!26.2
'128.4
116.4
157.3
'121.4
'127.8
'116.2
'155.9
'121.0
"130.8
"120.5
"157.7
"122.4
e
131.5
e
!21.8
e
!57.9
e
e
131.4
"134.3
P
107.0
"97.1
"129.7
148.6
117.9
"173.3
P
96.7
"180.1
"256.0
"91.1
an/1 <-rnr1*» anlpia fiinnHi 1 totfll i
Manufacturing, total t
Durable goods industries
Nondurable goods industries
Retail trade total §
... .
Durable goods stores
,
Nondurable goods stores
Merchant wholesalers, total @
Durable goods establishments
Nondurable goods establishments
mil S
•
dodo...
do.. do..
dodo..
do..
do..
do..
Mfg. and trade sales in constant (1972) dollars
(seas adi ) total *
bil $
Retail trade *
Merchant wholesalers *
See footnotes at end of tables.
do..
do..
l!9.2
107.2
e
!28.9
e
148.6
e
!59.0
e
169.0
e
!34.3
e
!45.0
e
l!3.9
e
!56.7
e
95.9
e
!81.0
'255.5
e
94.4
!22.4
155.6
142.4
120.8
156.0
146.6
94.7
108.8
120.5
170.4
192.5
140.9
157.8
151.7
126.7
125.8
153.1
138.1
109.9
155.6
141.4
94.2
107.8
121.6
170.0
191.7
140.1
157.3
150.8
126.7
126.0
151.6
134.1
108.8
146.2
137.7
95.9
107.2
119.6
171.0
193.1
138.7
156.1
149.7
116.1
126.3
148.8
128.9
90.0
149.2
132.7
95.2
102.8
114.6
170.9
193.4
137.9
155.0
150.5
118.6
123.5
145.2
123.5
71.8
144.4
129.1
95.7
102,3
106.6
169.4
191.6
137.7
155.3
151.0
123.6
123.7
142.6
120.1
58.1
140.3
127.0
95.7
102.8
103.8
167.7
189.2
138.1
155.7
151.0
121.4
124.3
141.3
116.9
53.4
135.8
123.3
95.0
99.5
105.7
168.5
189.9
138.0
156.9
150.7
120.6
125.9
139.7
114.7
55.4
127.9
121.0
94.9
101.3
106.3
167.5
188.2
137.1
156.7
149.0
113.3
126.1
140.4
115.9
63.1
143.2
119.1
93.9
104.2
108.5
167.8
188.4
135.0
156.2
151.5
110.6
125.9
'140.4
116.8
70.4
134.1
'120.3
'94.6
103.5
111.9
'140.3
'118.7
'74.0
129.7
'123.3
'95.0
"140.7
"121.2
"78.1
"144.8
"124.0
"96.4
112.1
168.8
190.5
137.6
156.2
151.1
118.0
124.6
157.4
144.5
121.3
147.9
151.5
96.2
111.3
115.8
171.8
195.2
138.5
155.1
151.1
112.7
120.0
'111.9
"112.7
'166.7
'188.3
'164.5
'185.6
"162.4
"182.9
134.0
'155.3
'152.0
'134.5
'155.8
152.4
"136.3
"156.9
113.0
123.1
109.9
'122.6
"120.0
150.8
144.2
196.1
121.8
254.7
60.9
124.7
86.9
112.6
151.9
128.2
75.2
61.7
99.5
114.8
149.0
169.3
104.9
109.8
161.9
148.3
145.6
196.7
123.3
244.7
63.1
127,1
84.1
99.2
144.3
128.5
89.7
79.6
108.9
120.7
160.9
168.2
96.6
90.4
162.2
151.5
146.4
201.3
119.5
251.8
64.0
129.3
83.8
104.9
148.4
135.0
88.5
78.5
106.7
121.4
160.0
172.9
102.0
98.6
164.5
150.6
145.9
200.3
121.3
253.4
61.2
128.2
83.8
103.5
150.2
131,5
83.0
73.0
100.7
121.1
157.3
172.6
104.4
105.6
163.0
149.8
144.2
198.6
120.8
255.1
60.6
126.7
85.2
106.2
151.8
127.0
76.4
65.1
95.9
119.1
153.7
172.2
105.9
110.7
162.8
146.5
143.8
193.6
122.2
257.0
61.1
126.1
86.3
110.6
151.1
125.0
75.2
62.4
97.0
115.8
150.0
170.9
110.0
119.8
163.8
146.8
142.6
193.2
124.3
258.9
62.3
125.5
86.5
112.2
152.5
126.1
72.8
58.0
98.9
115.0
147.4
170.8
111.6
124.0
164.8
147.0
143.9
194.1
124.7
256.8
62.9
125.9
87.1
116.9
154.5
126.9
72.9
58.1
102.9
115.5
147.1
170.3
112.7
127.2
165.2
152.5
145.3
195.6
121.4
261.1
60.8
124.9
86.5
120.3
156.7
128.8
72.9
57.4
100.3
114.3
147.2
169.7
107.0
116.7
165.5
154.3
144.3
196.4
122.6
262.0
60.9
123.5
86.9
119.9
155.7
1304
73.2
56.4
106.2
112.3
144.9
167.0
105.3
113.5
161.9
155.0
142.0
194.1
123.8
256.3
59.5
120.3
89.5
117.2
154.3
128.1
69.6
54.1
95.5
107.6
140.4
165.4
100.8
103.0
157.4
'154.5
'151.1
"156.1
'141.7
'192.8
120.0
250.2
57.7
119.3
91.9
119.1
'144.2
'196.0
'119.0
'249.7
'56.0
'119.8
'92.5
'121.4
"146.0
"197.2
"118.6
"250.6
"59.5
"122.1
"93.3
"125.0
152.4
127.3
63.6
47.5
92.2
107.0
139.6
'165.5
100.2
101.7
155.8
'153.0
'125.4
'62.9
46.7
'92.5
'107.3
'139.0
'165.3
'103.7
'108.8
'155.2
"153.4
"127.8
"75.8
"71.2
"57.3
"98.4 ""lOg.'l
"108.1
"137.9 136.9
"169.2 169.9
"105.7 110.2
"113.5 123.3
"156.0 156.0
146.3
126.2
82.3
142.7
131.1
95.1
BUSINESS SALES
TUfftr
134.0
e
!43.2
e
4,207,460 4,079,000 C308,279 323,388 355,915 343,372 347,636 356,134 329,795 336,983 345,243 340,220 338,448 '353,587 311,460
M,207,460 14,079,000 '334,384 340 571 342,121 339,835 349,096 346,126 344,603 339,464 339,470 332,537 335,804 '334,286 340,448
rl
l,994,593 1 1,885,967 155,023 158,142 157,517 156,114 160,828 161,519 161,382 158,619 159,278 152,473 152,343 '152,815 156,210
'1,000,995 918,223 75,551 77,976 78,124 77,136 79,518 78,888 79,036 77,248 76,562 72,342 72,708 '73,373 76,957
79,635 '79,442 79,253
82,346 81,371 82,716 80,13
'993,593 967,741 79,472 80,167 79,394 78,978 81,310 82,63
C
4,038,790 '1,070,227 C85,125 87,418 87,242 88,294 90,841 88,042 89,445 88,502 89,326 90,290 92,346 '91,517 91,033
326,596 332,023 C25,316 26,696 26,958 27,984 29,416 27,175 27,403 26,668 27,498 27,849 C30,175 '29,392 28,942
738,204 59,809 60,722 60,284 60,310 61,425 60,867 62,042 61,834 61,828 62441 62,171 '62,125 62091
712,194
1
1,174,072 11,122,468 94,236 95,010 97,361 95,427 97,427 96,565 93,776 92,343 90,866 89,774 90,915 '89,954 93,205
499,970 460 931 40,416 39,932 39,408 38,707 38,407 37,950 38,033 37,121 37,449 37,797 38,577 '38,254 39,91
674,102 661,517 53,820 55,078 57,953 56,720 59,020 58,615 55,743 55,222 53,417 51,977 52,338 '51,700 53,294
152.1
68.4
45.0
38.7
155.2
70.2
46.1
39.0
155.4
70.1
45.7
39.6
153.5
69.1
46.0
38.5
157.3
70.8
47.1
39.5
155.5
70.8
45.5
39.1
155.0
70.6
45.9
38.5
153.3
69.5
45.6
38.2
153.5
69.6
46.2
37.8
149.7
'66.3
46.1
37.2
151.8
66.6
47.3
37.9
'151.9
'67.0
47.2
'37.7
155.5
69.
47.2
39.
!39.0
116.2
136.6
117.8
164.5
185.9
137.1
156.8
155.3
145.8
115.5
123.4
"93.1
SURVEY OF CURRENT BUSINESS
March 1983
Unless otherwise stated in footnotes below, data
through 1978 and descriptive notes are as shown
in the 1979 edition of BUSINESS STATISTICS
1981
1982
1982
Jan.
Annual
Feb.
Mar.
Apr.
May
June
1983
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
GENERAL BUSINESS INDICATORS—Continued
BUSINESS INVENTORIES
Mfg. and trade inventories, book value, end of year
or month (unadj.), total $
mil. $. 513,530
Mfg. and trade inventories, book value, end of year
or month (seas, adj.), total $
mil. $. 519,394
283,152
Manufacturing, total t
do
Durable goods industries
do... 188,429
Nondurable goods industries
do94,723
Retail trade, total §
do
125,693
Durable goods stores
do..
58,835
Nondurable goods stores
do...
66,858
Merchant wholesalers, total @
do... 110,549
Durable goods establishments
do...
73,224
Nondurable goods establishments
do...
37,325
Mfg. and trade inventories in constant(1972)dollars,
end of year or month(seas.adj.),total*
bil. $.
Manufacturing *
doRetail trade *
do
Merchant wholesalers *
do...
BUSINESS INVENTORY-SALES RATIOS
Manufacturing and trade, total $
ratio.
1.43
Manufacturing, total t
do...
1.66
Durable goods industries
do..
2.19
Materials and supplies
do....
0.69
Work in process
do..
0.97
Finished goods
do...
0.53
Nondurable goods industries
do....
1.13
Materials and supplies
do....
0.45
Work in process
do....
0.19
Finished goods
do....
0.48
Retail trade, total §
do....
1.39
Durable goods stores
do.. .
2.08
Nondurable goods stores
do....
1.07
Merchant wholesalers, total @
do....
1.09
Durable goods establishments
do....
1.67
Nondurable goods establishments
do....
0.66
Manufacturing and trade in constant (1972) dollars,
total *
...
do
Manufacturing *
do
Retail trade *
do....
Merchant wholesalers *
do....
MANUFACTURERS' SALES, INVENTORIES,
AND ORDERS
Shipments (not seas, adj.), total t
do.... 1,994,593
Durable goods industries, total
do.... 1,000,995
Stone, clay, and glass products
do....
49,141
Primary metals
do
136,841
Blast furnaces, steel mills
do.... '69,188
Fabricated metal products
do.... r
123,276
Machinery, except electrical
do.... 203,732
Electrical machinery
do.... r
137,866
Transportation equipment
do.... 202,990
Motor vehicles and parts
do.... 114,872
Instruments and related products
do.... '47,527
Nondurable goods industries, total
do.... '993,593
Food and kindred products
do.... '269,124
Tobacco products
do....
13,000
Textile mill products
do.... '52,269
Paper and allied products
do ...
79,489
Chemical and allied products
do.... 175,123
Petroleum and coal products
do.... '220,326
Rubber and plastics products
do....
46,504
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
doTextile mill products
do
Paper and allied products
do ..
Chemicals and allied products
do....
Petroleum and coal products
do....
Rubber and plastics products
do....
See footnotes at end of tables.
498,682 513,516 513,844 517,710 512,689 513,132 512,799 511,302 509,661 511,150 516,744 514,563 '498,682 497,619
504,279
265,212
176,975
88,237
126,499
58,847
67,652
112,568
74,114
38,454
513,906
281,688
187,121
94,567
123,395
56,957
66,438
108,823
72,003
36,820
513,054
280,065
186,063
94,002
123,332
56,803
66,529
109,657
72,782
36,875
515,074
278,985
185,916
93,070
123,175
56,663
66,512
112,913
74,668
38,245
510,517
276,449
184,870
91,579
122,367
55984
66,383
111,701
72,858
38,843
512,981
275,115
184,289
90,826
124,351
57,346
67,005
113,515
73,908
39,607
513,387
274 914
183,798
91,116
125,939
58,246
66,693
113,534
75,241
38,293
514,554
274,302
183,550
90,752
127,151
60,075
67,076
113,101
74,956
38,145
515,399
272,474
182 793
89,681
129,073
61,628
67,445
113,852
75,799
38,053
514,224
271,710
181,843
89,867
128,628
60,708
67,920
113,886
75,953
37,933
508,630
269,297
179,324
89,973
126,638
59,059
67,579
112,695
74784
37,911
'504 279
'265 212
176,975
'88,237
126,499
'58,847
'67,652
112,568
'74,114
'38,454
501,023
262,616
174,011
88,605
126,474
58,659
67,815
111,933
73,630
38,303
267.7
146.9
65.4
55.4
266.5
146.9
65.0
54.5
266.0
146.4
65.1
54.5
266.5
146.0
65.2
55.4
264.5
145.3
64.7
54.5
265.2
144.6
65.4
55.2
265.6
144.4
65.5
55.6
265.5
144.0
66.4
55.0
266.0
143.3
67.2
55.5
265.2
142.6
66.9
55.8
262.3
141.0
65.9
55 3
'261.0
139.7
65.9
'55.4
259.1
138.2
65 7
55.2
1.54
1.81
2.48
0.77
1.09
0.62
1.18
0.48
0.20
0.51
1.45
2.28
1.11
1.18
1.81
0.70
1.50
1.78
2.40
0.74
1.05
0.60
1.18
0.47
0.20
0.51
1.41
2.13
1.09
1.15
1.80
0.67
1.50
1.78
2.38
0.73
1.05
0.61
1.18
0.47
0.20
0.52
1.41
2.11
1.10
1.13
1.85
0.64
1.52
1.79
2.41
0.74
1.06
0.61
1.18
0.47
0.20
0.51
1.40
2.02
1.10
1.18
1.93
0.67
1.46
1.72
2.32
0.71
1.02
0.60
1.13
0.46
0.19
0.48
1.35
1.90
1.08
1.15
1.90
0.66
1.48
1.70
2.34
0.71
1.03
0.60
1.10
0.44
0.19
0.47
1.41
2.11
1.10
1.18
1.95
0.68
1.49
1.70
2.33
0.71
1.01
0.60
1.11
0.45
0.19
0.47
1.40
2.13
1.07
1.21
1.98
0.69
1.52
1.73
2.38
0.71
1.04
0.62
1.12
0.45
0.19
0.48
1.44
2.25
1.08
1.22
2.02
0.69
1.52
1.71
2.39
0.71
1.05
0.62
1.08
0.43
0.18
0.47
1.44
2.24
1.09
1.25
2.02
0.71
1.55
1.78
2.51
0.75
1.11
0.66
1.12
0.44
0.19
0.49
1.42
2.18
1.09
1.27
2.01
0.73
1.52
1.77
2.47
0.74
1.10
0.63
1.13
0.45
0.19
0.49
1.37
1.96
1.09
1.24
1.94
0.72
1.51
1.74
'2.41
'0.72
1.08
'0.61
1.11
0.45
'0.18
'0.48
1.38
'2.00
1.09
1.25
1.94
'0.74
1.47
1.68
2.26
0.67
1.02
0.57
1.12
0.45
0.18
0.48
1.39
2.03
1.09
1.20
1.84
0.72
1.76
2.15
1.45
1.43
1.51
1.76
2.41
0.73
1.06
0.62
1.14
0.46
0.19
0.49
1.41
2.11
1.09
1.20
1.93
0.69
516,256
281,155
187,054
94,100
124,131
57,807
66,324
110,971
73,036
37,935
1.72
2.09
1.41
1.40
1.71
2.09
1.42
1.38
1.74
2.11
1.42
1.44
1.68
2.05
1.37
1.38
1.71
2.04
1.44
1.41
1.71
2.05
1.43
1.44
1.73
2.07
1.46
1.44
1.73
2.06
1.46
1.47
1.77
2.15
1.45
1.50
1.73
2.12
1.39
1.46
1.72
'2.08
1.40
1.47
1.67
2.00
1.39
1.41
1,885,967 144,431 160,220 165,832 158,058 161,541 169,159 147,553 155,187 165,584 157,882 151,967
918,223 68,605 78,829 83,776 79,101 80,485 84,307 70,361 73,374 79,908 75,845 72,301
45,324
3,238
3,543
3,871
3,801
3,923
4,166
3,708
3,957
4,107
4,021
3,685
102,491
9,634 10,046
9,742
9,507
8,951
8,981
7,481
7,951
8,310
7,797
7,041
46,517
4,837
5,051
4,813
4,440
3,974
4,120
3,291
3,554
3,413
3,077
2,942
114,330
8,360
9,528 10,319
9,978 10,244 10,531
9,126
9,746
9,876
9,391
8,928
184,379 14,455 16,964 18,032 15,602 15,810 16,815 13,619 13,925 15,845 ,14,204 14,015
137,958 10,410 11,689 12,094 11,622 11,716 12,354 10,654 11,131 12,076 11,708 11,281
192,783 12,640 15,524 17,362 16,889 18,004 18,983 14,767 14,616 16,825 16,183 15,548
109,813
6,979
8,521
9,905 10,297 10,682 11,361
8,412
8,483
9,799
9,223
8,535
46,694
3,379
3,832
4,171
3,758
3,936
4,285
3,519
3,873
4,316
3,895
3,853
967,741 75,826 81,391 82,055 78,957 81,056 84,852 77,192 81,813 85,676 82,037 79,666
271,635 20,580 22,814 23,140 21,813 22,721 23,812 21,657 22,335 24,298 23,207 22,830
14,391
1,083
1,069
1,061
1,153
1,140
1,388
1,024
1,279
1,492
1,260
1,103
49,615
3,553
4,135
4,625
4,070
4,209
4,547
3,412
4,469
4,259
4,292
4,035
78,162
6,416
6,782
6,915
6,447
6,538
6,727
6,080
6,721
6,684
6,508
6,278
169,094 13,360 14,369 15,176 14,542 14,629 15,360 12,960 13,977 14,840 13,164 13,163
201,965 17,298 16,547 15,533 16,194 17,287 17,770 17,341 17,006 17,443 17,098 16,429
42,687
3,375
3,669
3,607
3,648
3,592
3,898
3,469
3,682
3,778
3,699
3,264
155,023 158,142 157,517 156,114 160,828 161,519 161,382 158,619 159,278 152,473 152,343
75,551 77,976 78,124 77,136 79,518 78,888 79,036 77,248 76,562 72,342 72,708
3,884
3,795
3,821
3,728
3,863
3,834
3,764
3,730
3,800
3,720
3,709
10,028
9,572
8,829
8,953
8,682
8,598
8,443
8,250
8,383
7,689
7,315
5,009
4,812
4,254
4,156
3,904
3,989
3,685
3,654
3,597
3,061
3,065
9,231
9,557
9,765
9,750 10,096
9,890
9,965
9,680
9,520
8,921
9,108
15,939 16,587 16,570 15,432 15,899 15,488 14,879 14,847 15,402 14,044 14,535
11,210 11,451 11,508 11,677 11,912 11,639 12,108 11,434 11,452 11,220 11,163
13,847 15,152 15,805 15,945 17,314 17,573 17,806 17,589 16,292 15,053 15,088
7,357
8,241
8,829
9,509 10,109 10,420 10,918 11,018
9,568
7,923
8,082
3,754
3,933
3,942
3,825
3,988
4,007
3,905
3,894
4,043
3,753
3,765
79,472 80,167 79,394 78,978 81,310 82,631 82,346 81,371 82,716 80,131 79,635
22,069 22,709 22,404 22,302 23,018 23,315 23,277 22,275 23,268 22,392 22,339
1,138
1,136
1,103
1,157
1,128
1,351
1,021
1,243
1,511
1,207
1,081
3,905
4,150
4,254
5,058
4,148
4,217
4,074
4,198
4,195
4,084
3,988
6,712
6,603
6,599
6,463
6,346
6,425
6,478
6,549
6,492
6,519
6,486
13,740 14,071 13,847 13,751 14,136 14,595 14,259 14,551 14,397 13,548 14,003
17,011 16,024 15,698 16,494 17,382 17,592 17,690 16,976 17,431 17,352 16,467
3,646
3,520
3,414
3,500
3,569
3,762
3,807
3,590
3,654
3,483
3,423
148,554 144,954
'71,331 69,594
'3,307
3,378
'7,052
7,564
'3,007
3,146
8,253
'8,306
15,095 12,825
11,226 10,798
15,445 16,142
'7,616
9,786
'3,878
3,503
'77,223 75,360
'22,430 21,187
1,341
1,067
'4,012
3,705
'5,976
6,647
13,556 13,564
16,022 15,101
'3,007
3,306
152,815 156,210
'73,373
'3,697
'7,565
'3,148
'8,794
14,352
11,340
16,051
'8,601
'3,858
'79,44^
'22,277
1,310
'4,295
'6,502
14,189
15,818
'3,337
76,957
4,056
7,879
3,257
9,117
14,291
11,645
17,666
10,391
3,884
79,253
22,726
1,122
4,074
6,948
13,991
14,871
3,569
Feb.
S-4
SURVEY OF CURRENT BUSINESS
Unless otherwise stated in footnotes below, data
through 1978 and descriptive notes are as shown
hi the 1979 edition of BUSINESS STATISTICS
1981
1982
1982
Annual
March 1983
Jan.
Feb.
Mar.
Apr.
May
June
1983
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
GENERAL BUSINESS INDICATORS—Continued
MANUFACTURERS' SALES, INVENTORIES,
AND ORDERS f— Continued
Shipments (seas, adj.) t—Continued
By market category: t
Home goods and apparel
,.. mil. $.. rl 136,414
Consumer staples
do "349,263
Equipment and defense prod., exc. auto .... do,... rl306,926
rl
134,995
Automotive equipment
do
Construction materials and supplies
do.... rl 152,654
Other materials and supplies
do.... rl914,313
Supplementary series:
'61,299
Household durables
do
Capital goods industries
do "344,644
"297,715
'46,927
Defense
do
Inventories, end of year or month: t
Durable goods industries, total
Nondurable goods industries, total
do....
do....
Book value (seasonally adjusted), total t-— — • do....
By industry group:
Durable goods industries, total #
do....
Stone, clay, and glass products
do....
Bl «it furna?e<* steel mills
do
280,131
185,584
94,547
283,152
188,429
6,792
26,250
13,347
10,467
29,021
24,185
8,836
11,398
71,115
11,176
29,970
25,566
9,769
11,400
70,261
11,208
29,753
25,623
10,332
11,738
68,862
10,708
29,578
23,997
11,002
11,446
69,383
10,803
30,310
25,056
11,661
12,058
70,940
10,858
31,043
24,451
11,974
11,720
71,473
11,328
30,660
24,146
12,456
12,102
70,690
11,242
30,207
23,766
12,494
11,899
69,011
11,149
31,361
24,682
10,983
11,787
69,316
10,909
29,943
23,707
9,315
11,537
67,062
10,636
30,176
23,794
9,564
11,555
66,618
!0,313
'30,388
'24,531
10,110
11,267
'66,206
10,900
30,340
23,944
12,090
12,445
66,491
'58,005
'327,694
'271,715
'55,975
4,723
27,067
23,066
4,002
4,876
28,417
24,043
4,374
4,982
28,549
24,060
4,490
4,897
26,869
22,599
4,271
4,808
28,140
23,471
4,669
4,904
27,727
22,906
4,821
5,133
27,283
22,483
4,800
4,799
26,423
21,776
4,647
5,008
27,130
22,271
4,859
4,835
26,297
21,372
4,925
4,676 '4,419
26,392 '27,053
21,441 r21,953
4,951
5,100
4,895
26,489
21,447
5,042
262,303 281,926 283,594 282,050 282,017 279,391 276,281 274,487 273,292 269,830 269,002 266,658 '262,303 263,241
174,239 187,031 188,756 188,026 188,253 187,287 185,442 183,859 183,110 180,765 179,415 177,112 174,239 173,887
r
88,064 94,895 94,838 94,024 93,764 92,104 90,839 90,628 90,182 89,065 89,587 89,546 88,064 89,354
269,297 '265,212 262,616
265,212 281,155 281,688 280,065 278,985 276,449 275,115 274,914 274,302 272,474 271,710
176,975 187,054 187,121 186,063 185,916 184,870 184,289 183,798 183,550 182,793 181,843 179,324 176,975 174,011
'6,287
6,040
6,361
6,413
6,332
6,396
6,318
6,382
6,479
6,429
6,544
6,629
6,287
6,582
21,902 25,974 26,070 26,056 25,403 25,063 24,617 24,450 24,142 23,970 23,738 23,107 '21,902 21,281
10,706 13,120 13,128 13,441 13,075 12,867 12,566 12,485 12,154 11,985 11,847 11,465 10,706 10,112
17,562 20,339 20,142 19,848 19,716 19,664 19,593 19,223 19,200 19,050 18,682 18,085 17,562 17,265
40,983 44,237 44,414 44,134 44,449 44,447 44,008 43,895 43,572 43,010 42,556 41,923 '40,983 40,470
26,308 27,784 27,697 27,526 27,365 27,024 26,950 26,834 26,891 26,669 26,670 26,745 '26,308 26,071
41,162 38,122 38,194 38,150 38,743 38,701 39,074 39,339 39,785 40,162 40,418 40,052 '41,162 40,483
8,096 '8,578
8,172
8,381
8,600
8,468
8,849
8,495
8,649
8,640
8,673
8,957
8,795
8,578
8,768
9,289 '9,148
9,388
9,387
9,398
9,422
9,393
9,516
9,303
9,399
9,513
9,148
9,420
do....
do....
do....
do....
do....
do
20,208
44,376
28,142
38,237
9,226
9,610
do....
58,461
82,814
47,153
52,886
79,022
45,067
58,184
82,211
46,659
94,723
20,400
4,401
7,011
8,825
21,615
10,544
6,298
88,237
19,631
4,433
6,304
8,808
19,610
9,217
5,584
do....
do
38,015
16,196
40,511
35,433
14,348
38,456
,. do....
Fabricated metal products
,
Machinery, except electrical
Electrical machinery,..,
Transportation equipment
,..
Motor vehicles and parts
Instruments and related products
By stage of fabrication: t
Materials and supplies
22,948
33,100
76,445
11,873
22,172
116,613
Finished goods •
...
.. .. do....
Nondurable goods industries, total #..„.. do....
Food and kindred products
do....
Textile mill products
Paper and allied products
Chemicals and allied products ,
Petroleum and coal products
Rubber and plastics products
By stage of fabrication:
Materials and supplies ,
Work in process
.. >. ..
By market category: t
Home goods and apparel
Equip, and defense prod., exc. auto
do....
do
do....
do....
do....
do....
Construction materials and supplies ........ do....
r
'130,872
'362,425
'293,793
'127,742
'140,064
'831,061
51,743
78,399
43,869
89,681
19,972
4,492
6,369
8,831
20,272
9,274
5,678
89,867
19,911
4,417
6,350
8,890
20,396
9,201
5,803
53,491 '52,886
79,786 '79,022
46,047 '45,067
89,973 '88,237
19,944 19,631
4,456 '4,433
6,386 '6,304
8,880 '8,808
20,065 19,610
9,764 '9,217
5,688 '5,584
35,800
15,192
38,689
35,637 35,814 '35,433
14,857 14,794 14,348
39,373 r39,365 '38,456
35,857
14,479
38,269
56,897
81,729
47,435
94,002
20,405
4,572
6,587
8,921
21,428
10,531
6,153
56,947
81,562
47,408
55,996
81,284
47,590
55,643
81,304
47,342
55,781
80,216
47,801
55,191
80,458
47,901
54,703
80,379
47,711
54,279
80,567
46,997
94,100
20,481
4,495
6,761
8,675
21,420
10,373
6,120
57,999
82,097
47,026
94,567
20,486
4,514
6,710
8,850
21,418
10,615
6,172
93,070
20,377
4,812
6,513
8,842
21,363
9,675
6,165
91,579
20,140
4,812
6,501
8,810
20,895
9,060
6,115
90,826
19,830
4,697
6,367
8,757
20,973
9,101
6,046
91,116
20,178
4,893
6,428
8,734
20,798
9,220
5,868
90,752
20,212
4,696
6,381
8,748
20,656
9,329
5,791
37,961
15,959
40,179
37,899
15,792
40,877
37,317
15,629
41,057
37,486
15,601
39,983
37,172
15,438
38,969
36,714
15,555
38,557
36,789
15,519
38,808
36,448
15,529
38,775
20,842 22,766 22,631 22,041 21,948 21,779 21,598 21,675 21,517 21,416 21,327 21,071
32,129 33,309 33,644 33,631 33,673 33,355 32,832 33,351 33,262 32,632 32,692 32,638
76,315 76,265 76,744 76,716 77,708 77,506 77,622 77,423 77,618 77,464 77,083 76,653
11,038 11,567 11,366 11,220 11,191 11,102 11,226 11,332 11,054 10,807 10,806 10,500
19,568 21,729 21,338 21,078 20,723 20,639 20,533 20,415 20,490 20,261 20,125 19,909
105,320 115,518 115,964 115,379 113,741 112,068 111,304 110,718 110,361 109,894 109,677 108,526
88,605
19,984
4,594
6,292
8,665
19,359
9,687
5,494
'20,842 20,660
'32,129 32,675
'76,315 75,363
11,038 10,567
19,568 19,016
105,320 104,335
Supplementary series:
11,256
10,133 11,196 11,120 10,896 10,856 10,692 10,744 10,782 10,656 10,678 10,548 10,302 10,133 10,240
86,565 86,302 86,974 86,795 87,752 87,644 87,393 87,378 87,885 87,579 87,779 87,018 '86,565 85,787
86,515
70,735 72,968 73,376 72,937 73,806 73,615 73,166 73,173 73,426 72,710 72,575 71,667 '70,735 69,350
73,360
15,830 13,334 13,598 13,857 13,946 14,029 14,227 14,205 14,459 14,869 15,204 15,351 15,830 16,437
13,154
Defense
do
New orders, net (not seas, adj.), total t — • •••• do... 1,992,174 1,862,569 147,978 159,497 166,453 156,759 155,250 162,730 143,375 149,397 161,757 157,190 148,975 153,211 152,446
r
Durable goods industries, total
„ do... 999,262 895,585 71,856 78,548 84,383 77,867 74,504 78,199 66,393 67,545 75,921 75,222 69,430 '75,718 76,672
'992,906 966,982 76,122 80,949 82,069 78,892 80,746 84,531 76,982 81,852 85,836 81,968 79,545 '77,493 75,774
rl
New orders, net (seas, adj.), total t-—
•• do... 1,992,174 '1,862,569 154,519 155,984 157,198 154,995 156,791 157,058 158,588 154,380 156,166 149,696 150,362 156,263 160,062
By industry group:
r
"999,262 '895,585 75,061 76,309 77,859 76,194 75,710 74,550 76,446 72,982 73,266 69,598 70,607 76,593 80,724
Durable goods industries, total.......,.,,
„ do... rl
8,274
7,466 r6,655
6,943
8,178
7,983
8,660
8,617
8,137
8,453
7,596
8,241
'96,308
9,163
133,894
3,466
3,056 '2,485
3,351
2,795
3,749
3,789
3,999
3,928
3,583
3,432
3,741
4,469
'42,571
Blast furnaces, steel mills
do... "68,406
rl
3,977
3,729 '3,546
4,010
3,534
3,765
3,797
3,741
3,939
3,828
3,440
3,767
3,866
53,601 '44,970
Nonferrous and other primary met
do...
8,186
'8,426
9,002
8,297
8,897
8,668
9,368
9,389
8,989
9,405
9,819
8,777
9,052
"122,023 '107,391
Fabricated metal products.....
do... rl
Machinery, except electrical
do... 202,444 '166,564 15,120 14,506 14,438 15,262 14,408 13,015 12,876 13,091 13,978 13,824 12,970 12,488 13,351
'143,718 11,842 11,391 12,782 12,508 11,888 11,705 12,396 11,572 12,025 11,115 12,193 12,473 11,957
"141,836
Transportation equipment
do... "202,464 '197,014 15,182 17,305 17,138 16,595 16,011 16,347 17,515 16,084 14,828 14,267 14,567 '21,732 21,677 •
r
8,898
5,193
7,395
5,108
4,181
5,175
4,989
4,560
4,854
5,779
7,206
7,475
5,841
'66,145 '67,926
Aircraft, missiles, and parts
do...
Nondurable goods industries, total
„.. do... "992,906 '966,982 79,458 79,676 79,339 78,803 81,081 82,508 82,142 81,398 82,900 80,098 79,755 '79,670 79,338
Industries with unfilled orders $
do... "205,865 '204,680 16,946 16,866 17,607 16,653 16,756 16,867 16,742 17,181 17,314 16,822 17,287 17,619 17,811
Industries without unfilled orders ff ........ do... "787,035 '639,637 62,512 62,810 61,732 62,151 64,325 65,641 65,400 64,217 65,586 63,276 62,468 '62,051 61,527
Capital goods industries...,
do....
By market category: t
Home goods and apparel
Capital goods industries.,....,
,
Nondefense
,...„..,.
Defense
See footnotes at end of tables.
'130,419
'362,425
'289,180
'126,585
'136,393
'817,555
10,296
28,978
26,587
8,771
10,856
69,031
11,120
29,996
26,161
9,438
11,108
68,162
11,570
29,822
25,349
10,285
12,006
68,167
10,067
29,477
25,890
10,625
11,003
67,937
11,040
30,340
22,074
11,398
11,592
70,347
10,964
31,070
23,179
11,887
11,384
68,574
11,181
30,590
22,390
12,647
12,008
69,772
11,099
30,181
21,542
11,928
11,429
68,201
10,978
31,389
22,310
11,267
11,691
68,531
10,772
29,967
22,325
9,346
11,205
66,081
10,683
30,147
22,888
9,419
10,894
66,331
10,420
'30,456
'27,776
10,335
10,995
'66,281
11,010
30,317
26,587
12,257
12,249
67,642
'57,626
"61,120
do... "347,076 '321,165
'248,183
do... "288,725
'58,350 '72,978
•• do,,.
4,578
28,291
21,717
6,573
4,869
28,772
21,560
7,213
5,353
29,239
22,174
7,065
4,254
28,782
22,608
6,174
5,022
25,107
20,332
4,775
5,004
24,715
19,278
5,437
4,990
25,006
20,322
4,684
4,670
24,207
18,893
5,314
4,850
24,608
20,273
4,335
4,743
25,004
20,183
4,821
4,715
'4,480
25,264 '31,463
20,173 '20,154
c ncn i"i 1 ^ino
4,990
29,495
20,907
8,588
do... "136,193
"349,422
do,,. "308,341
"134,890
do...
do... "152,050
do... "911,244
Equip, and defense prod., excl. auto
Automotive equipment
Construction materials and supplies.....
Other materials and supplies
,
Supplementary series:
,
-
Unless otherwise stated in footnotes below, data
through 1978 and descriptive notes are as shown
hi the 1979 edition of BUSINESS STATISTICS
S-5
SURVEY OF CURRENT BUSINESS
March 1983
1981
Annual
1983
1982
1982
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Jan.
Dec.
Feb.
GENERAL BUSINESS INDICATORS—Continued
MANUFACTURERS' SALES, INVENTORIES,
AND ORDERS t—Continued
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....
Defense.
..
. . .
do
BUSINESS INCORPORATIONS @
New incorporations (50 States and Dist. Col.):
Unadjusted
number..
Seasonally adjusted
do....
INDUSTRIAL AND COMMERCIAL
FAILURES®
Failures, total
numberCommercial service
do....
Construction
do....
Manufacturing and mining
do....
Retail trade...
do....
Wholesale trade
do....
Liabilities (current), total
thous. $..
Commercial service
do....
Construction
do....
Manufacturing and mining
do....
Retail trade
do....
Wholesale trade
do....
Failure annual rate (seasonally adjusted)
No. per 10,000 concerns..
316 375
306 395
9,979
292 978 319 921 319 197 319 817 318 518 312 234 305 804 301 624 295 827 292 004 291 312 288 323 r292 978 300 473
283 757 309 646 309 365 309 971 308 736 302 762 296 652 292,684 286 850 282 866 282 244 279 370 r283 757 290 835
9,221 10,275
9,832
9,847
9,782
9,472
8,940
8,977
9,068
9,638
9,152
9,138
8,953 r9,221
318 621
294 572 318 114 315 957 315 639 314 521 310482 306 032 303 235 299 001 295 883 293 107 291 128 r294 572 298 427
308 370
26623
16,113
7,302
29,240
72627
51939
113 709
87,207
10,251
285077 307 877 306 211 305 947 305 004 301 194 296 866 294 272 290 Oil 286 706 283 960 281 861 r285 077 288 847
20408 25 759 24 427 23 195 22378 22 147 22 168 22385 22 181 21 913 21 167 21 318 r20 408 20 803
12,155 15,573 14*.502 13*679 13,106 13,129 12,930 13,244 13,369 13,093 12,823 12,818 12 155 12364
6,053
7,030
6,921
6,697
6,572
6,419
6,499
6,106
6,586
6,391
6,493
6,273 "6,053
6,200
22 238 28785 28281 28334 27574 26883 26 384 25788 25 004 24 150 23 528 22 605 rr22 238 22 123
54627 71807 69727 67595 67 425 65934 63 462 61 458 59 703 58 276 58 054 56491 r54 627 53 685
57710 52570 52510 53784 54613 54588 54*655 54942 55082 55654 55548 56577 57 710 58 024
117 765 115 043 117 196 118 529 119 178 117 876 116 652 116 359 114 855 113390 112*604 112 086 117 765 121 777
90,419 88,123 90,514 92,483 93,349 92,613 91,494 91,178 91,151 90,025 89,355 89,021 r90,419 93,473
9,495 10,237
9,518
9,746
9,692
9,288
8,963
8,990
9,166
9,177
9,147
9,267 r9,495
9,580
4,244
187,724
16,982
109,671
3,637
4,029
3,998
4,429
3,684
3,951
4,087
3,866
3,700
3,556
3,446
3,462 r3,637
3,726
181,533 190,058 190,323 190,002 191,517 188,274 186,916 185,350 182,561 180,468 179,112 178,065 181,533 184,346
13 244 16440 16 148 16 416 15972 15506 15 170 15 076 14 606 14509 14 178 13 517 13 244 13048
96,158 107,588 105 488 104 793 103 346 102 751 99859 98943 98 134 97*350 96371 96 084 r96 158 97 307
3069
220 621
146701
73919
2536
2924
2916
3 288 2643
2858
2 815
2689
2961
2 528
2 438
2 475 r2 536
2 632
213 724 221 841 222 197 222 888 224 799 221 766 218 756 216 480 214 264 211 737 210 440 209*314 r213 724 216 730
122 924 145 351 142 868 140*982 140 991 137 852 134 226 132*067 129 183 127 180 125 988 124*721 122 924 122 383
r
90800 76490 79329 81 905 83 808 83914 84 530 84*413 85 081 84557 84 452 84 593 90 800 94 347
489 059
42 680
43,330
42511
47234
52 574
46899
48845
46876
46 008
46995
48 876
45936
45282
44525
45572
46 981
45 4g}
45 552
45 029
45 530
44 354
48 474
607
508
528
446
363
376
619
538
501
469
345
383
585
491
518
505
328
388
587
505
617
506
345
393
. 16,794
2,366
3,614
2,224
6,882
1,708
6,955,180
1,045,825
851,780
2,370,415
1,558,528
1,128,632
1
61.3
COMMODITY PRICES
PRICES RECEIVED AND PAID BY
FARMERS K
Prices received, all farm products.
1910-14=100..
Crops #
do
Commercial vegetables
do
Cotton
do
Feed grains and hay
do....
Food grains
do
Fruit
doTobacco
do
Livestock and products #
do
Dairy products
do
Meat animals
do
Poultry and eggs
do
Prices paid:
Production items
do
All commodities and services, interest, taxes, and
wage rates (parity index)
1910-14=100..
Parity ratio §
do.
633
580
677
566
446
456
483
1363
688
842
848
264
609
525
633
467
378
401
654
1 496
696
829
876
251
602
547
904
425
399
432
525
1 474
659
850
791
259
609
535
800
415
390
425
553
1 474
685
844
841
264
609
522
664
425
391
419
535
1 469
699
832
870
268
618
533
641
459
404
417
549
1 469
706
820
898
255
634
544
605
471
417
413
596
1 469
727
807
950
247
628
541
640
490
404
388
612
1 474
718
801
936
245
624
540
604
506
385
374
761
1 400
711
807
912
254
855
864
853
855
864
863
868
873
1,035
61
1,071
57
1,056
57
1,059
58
1,066
57
1,065
58
1,070
59
1,076
58
272.3
288.6
282.1
282.9
282.5
283.7
272.4
289.1
282^5
283.4
283.1
2585
2706
270.9
2733
2884
286.8
2674
2814
280.6
2683
2821
281.5
2685
281 7
280^9
£QQ
1 526
710
1 0££
1 565
705
791
1 535
685
A71
1 ^AK
fi79
585
581
495
C7Q
604
r/lQO
rKOC
CAC
cryj
484
363
r
473
r
AK.A
OQO
TA(\A
KAR
'4QQ
375
399
Ana
1 ^A.%
i f^n,
1 f\91
fifiQ
QCfi,
rCQO
rft/M
7fi7
Qfl7
Qt)C
922
a AA
OKf)
or/»
BOA
oqc
ocq
94 Q
9A:A
873
871
Q£C
QKQ
QGfl
QKQ
&£Q
1,079
58
1,079
56
1,077
57
1,073
55
1,075
55
1,073
54
1,083
54
1,087
286.5
290.1 ' • 291.8
292.4
292.8
293.6
293.2
292.0
292.1
292.3
284.3
287.1
290.6
292.2
292.8
293.3
294.1
293.6
292.4
293.1
293.2
2687
2829
2821
2706
2860
284^9
273 8
289 7
288.4
275 3
291 5
289^9
275 7
292 5
290.5
276 9
2929
290.8
277 9
294 0
291.5
278 1
293 6
290.8
070 9
EC
CONSUMER PRICES
(U.S. Department of Labor Indexes)
Not Seasonally Adjusted
ALL ITEMS, WAGE EARNERS AND
CLERICAL WORKERS, REVISED
(CPI-W)
1967= 100..
ALL ITEMS, ALL URBAN CONSUMERS
(CPI-U)
1967= 100..
Special group indexes:
All items less shelter..
..
..
do
All items less food
do....
All items less medical care
do....
See footnotes at end of tables.
292 1
289.5
2
970
K
970 K
2
292 6
2
292 6
290.0
290.0
S-6
SURVEY OF CURRENT BUSINESS
Unless otherwise stated in footnotes below, data
through 1978 and descriptive notes are as shown
in the 1979 edition of BUSINESS STATISTICS
1981
1982
Annual
March 1983
1982
Jan.
Mar.
Feb.
Apr.
July
June
May
1983
Aug.
Sept.
Nov.
Oct.
Dec.
Jan.
Feb.
COMMODITY PRICES—Continued
CONSUMER PRICES— Continued
(U.S. Department of Labor Indexes) — Continued
Not Seasonally Adjusted
All items (CPI-U)—Continued
Commodities
Nondurables
Nondurables less food
Durables
. .
Commodities less food
Services
Services less rent....
1.0
261.0
247.3
285.4
279.7
191.1
285.1
281.2
196.5
332.1
1.1
264.3
251.2
287.1
281.5
191.5
0.6
265.8
253.0
287.6
281.5
0.1
266.4
253.8
287.5
280.2
0.4
267.9
255.6
288.1
280.5
192.8
193.3
291.5
287.7
197.2
334.9
192.2
294.1
290.4
198.0
336.8
0.3
266.0
253.6
286.9
279.9
192.7
295.3
291.6
199.2
295.6
291.6
199.6
296.4
292.3
199.2
326.1
0.2
258.1
244.2
283.3
277.4
190.8
282.5
278.6
196.1
329.0
338.9
339.1
188.0
288.0
284.5
195.5
279.7
336.8
316.2
191.1
285.1
281.3
194.4
280.9
336.7
318.8
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....
0.3
259.5
246.7
281.3
275.5
189.5
0.1
259.0
245.7
282.6
277.1
0.0
258.8
245.3
282.8
277.0
190.2
190.6
290.9
287.7
195.9
286.6
283.0
195.7
Services
324.8
287.0
283.5
195.3
326.0
Apparel and upkeep
Transportation
J...
New cars
Used cars
Public
Medical care
.. .
Seasonally Adjusted @
• do
do....
. do
do...,
do
do...,
191.8
291.5
287.5
197.6
296.4
346.0
328.7
do
'338.3
195.5
295.5
291.1
197.7
306.7
356.3
338.7
309.4
331.4
220.1
370.6
339.2
641.3
377.8
232.6
293.5
314.7
208.2
352.7
319.2
675.9
345.9
221.3
186.9
280.0
277.5
190.2
256.9
312.0
294.5
339.9
194.9
295.3
291.1
197.7
304.6
353.3
336.0
306.7
327.6
219.6
365.7
339.3
664.0
375.9
231.6
do...,
do
. . do .
do...,
• do
do....
do....
do....
194.2
289.1
284.4
201.1
339.3
191.9
282.9
278.8
196.0
285.1
339.3
321.7
320.1
344.2
226.0
385.9
356.3
659.9
404.4
233.4
191.8
296.2
292.4
198.7
304.4
348.1
333.3
307.3
329.5
218.6
368.7
337.1
683.1
368.7
230.2
Mousing
Shelter #
Rent residential
Homeownership
Fuel and utilities #
Fuel oil, coal, and bottled gas
Gas (piped) and electricity
Household furnishings and operation
295.8
291.7
199.3
336.7
319.2
342.8
224.8
384.5
354.7
659.9
402.1
234.1
287.6
280.6
319.7
342.6
226.9
383.0
359.5
662.8
409.2
234.2
306.1
328.3
217.8
367.5
336.2
686.0
367.4
228.4
187.3
289.9
286.6
197.4
280.5
334.9
313.4
274.6
269.9
-0.3
268.4
256.3
288.1
279.4
192.7
287.4
280.8
267.5
276.5
265.7
246.0
255.4
340.3
361.6
287.0
279.4
320.7
342.8
228.9
382.8
363.4
677.2
413.4
235.4
283.0
277.1
do
do....
0.0
268.1
255.9
288.2
280.1
193.2
296.0
291.8
198.7
339.3
266.6
276.2
264.6
244.1
253.9
339.7
361.3
283.3
278.0
.
316.3
335.9
230.8
372.9
364.1
688.5
410.6
235.7
193.6
294.8
290.4
200.1
312.6
355.6
344.3
266.4
275.5
263.6
244.6
253.8
338.9
360.5
258.9
269.3
255.0
235.8
245.0
328.4
349.1
283.9
277.9
Food #
Food at home
319.0
340.7
230.2
379.5
362.2
691.3
407.6
235.1
195.4
295.8
291.4
199.0
310.5
356.0
342.2
266.5
275.7
263.0
244.7
253.5
337.0
358.5
288.5
282.8
258.8
270.7
258.4
233.5
245.2
325.5
345.7
263.8
273.6
261.6
241.1
250.9
333.3
354.2
285.7
279.2
314.7
337.0
224.0
376.8
350.8
667.9
393.8
233.2
267.7
275.8
264.7
247.3
255.8
335.6
355.5
265.1
274.4
261.2
243.2
251.9
334.9
356.5
287.8
282.6
317.5
340.9
222.6
382.8
352.2
656.6
398.9
233.7
190.8
292.8
288.9
198.1
298.2
345.6
326.4
259.5
271.7
260.1
233.7
246.0
325.3
345.7
253.6
266.3
257.5
227.1
241.2
305.7
324.3
267.8
276.4
266.1
246.6
256.0
338.6
359.3
286.4
278.3
261.5
270.7
256.2
239.8
247.8
331.8
352.8
285.5
279.8
313.8
336.7
221.8
377.4
345.4
644.6
389.0
233.4
191.5
285.6
281.5
197.5
291.4
342.1
323.8
258.8
270.8
260.2
233.4
245.9
323.9
344.2
281.0
275.3
1967=100..
do
do
do ..
do....
do
do. ..
189.7
296.1
292.3
198.6
302.4
347.2
330.0
286.5
277.8
'267.2
275.2
262.4
1
247.3
'254.4
'337.9
(2)
288.1
279.3
266.7
274.6
260.5
247.1
253.2
338.9
289.0
280.3
'317.9
318.5
'338.3
339.2
232.2
233.1
2
()
365.4 ""3646
654.0
671.1
413.5
414.5
1
236.7
235.8
191.0
293.0
288.4
201.0
311.0
357.7
347.8
192.0
289.9
285.2
201.3
309.1
355.2
351.3
'0.2
-0.2
266.3
253.0
288.3
279.4
'268.1
'255.6
288.3
279.5
193.2
293.9
289.4
199.4
PRODUCER PRICES §
(U.S. Department of Labor Indexes)
Not Seasonally Adjusted
All commodities
1967 — 100..
By stage of processing: t
Crude materials for further processing
do....
Intermediate materials supplies etc
do
Finished goods $
do
Finished consumer goods
do....
Capital equipment
do....
By durability of product:
Durable goods
do....
Nondurable goods
do
Total manufactures
do....
Durable manufactures
do
Nondurable manufactures
do....
Farm prod., processed foods and feeds
do....
Farm products
do
Foods and feeds processed .
do
Industrial commodities
... . do..
Chemicals and allied products
do
Fuels and related prod., and power
do...
Furniture and household durables
do...
Hides, skins, and leather products
doLumber and wood products
do...
Machinery and equipment
do...
Metals and metal products
do
Nonmetallic mineral products
do...
Pulp paper and allied products ..
do
Rubber and plastics products
do
Transportation equipment # ....Dec. 1968= 100.
Motor vehicles and equip
1967=100.
293.4
299.3
298.3
298.6
298.0
298.0
298.6
299.3
300.4
300.2
299.3
r
299.8
300.4
300.6
300.0
301.2
329.0
306.0
269.8
271.3
264.3
319.5
310.4
280.6
280.9
279.6
318.4
311.0
277.9
278.3
276.2
321.6
311.1
277.9
278.6
275.0
320.0
310.6
277.3
277.7
275.8
322.6
309.9
277.3
277.3
277.2
328.3
309.8
277.8
277.7
278.1
325.6
309.9
279.9
280.1
279.2
323.4
311.1
281.7
282.1
280.2
319.8
310.8
282.3
282.8
280.7
316.1
310.5
281.2
281.9
278.7
r
312.0
r
313.4
310.1
284.9
285.2
284.0
312.6
310.2
285.1
285.1
285.1
313.7
309.9
283.6
283.0
285.7
321.0
310.5
283.7
283.0
286.2
269.8
312.4
286.0
269.6
303.6
279.0
315.3
292.7
279.9
306.4
248.9
242.3
251.5
312.3
292.4
693.2
206.8
263.0
284.7
278.7
301.8
320.2
288.6
241.6
204.3
249.7
251.3
277.6
314.7
291.9
278.0
306.8
246.0
242.2
247.1
311.8
292.9
705.1
203.5
261.8
285.5
274.1
304.7
315.6
285.5
237.3
205.0
248.6
250.8
277.4
315.4
292.0
277.8
307.2
277.4
314.2
291.4
277.8
305.9
247.5
244.7
248.1
311.0
294.6
689.7
205.5
260.6
285.3
276.2
302.9
319.9
287.4
240.8
205.0
245.2
246.8
278.1
313.6
291.1
278.7
304.1
251.6
250.6
251.1
309.9
294.3
670.6
206.0
263.4
286.5
277.6
303.1
320.2
288.5
241.1
205.4
245.8
247.2
278.5
314.5
291.3
279.2
304.0
278.3
316.0
292.4
279.3
306.3
278.9
317.6
293.7
279.9
308.5
278.8
317.1
293.8
279.8
308.6
278.6
315.7
292.9
279.6
307.1
r
282.0
315.1
294.1
283.2
305.6
255.3
252.7
255.8
310.6
293.3
677.3
207.0
261.8
289.0
278.6
299.3
320.9
289.5
242.5
205.0
249.1
251.1
252.4
246.6
254.6
312.8
291.6
701.1
206.8
263.1
288.6
279.6
299.5
321.1
289.1
242.0
204.1
249.8
252.0
249.6
240.8
253.5
313.2
291.6
705.6
208.1
262.0
284.2
279.9
299.2
320.5
289.3
242.6
204.2
250.6
252.8
247.4
234.5
253.5
312.7
290.7
700.4
208.3
263.5
283.0
280.2
301.8
321.2
289.4
242.5
204.3
244.5
244.6
r
243.8
r
229.2
r
282.8
313.4
293.7
283.9
303.9
245.9
233.1
251.8
314.0
289.2
686.3
210.1
265.6
292.1
282.7
301.7
321.5
291.1
244.5
202.6
257.1
257.8
285.2
313.5
294.1
286.1
302.3
255.8
256.5
254.4
309.6
295.0
662.2
206.5
263.2
284.6
278.2
302.8
321.2
289.6
242.1
205.4
247.5
249.2
281.2
315.5
294.0
282.4
306.3
244.0
230.6
250.4
315.1
290.5
707.3
208.3
264.3
279.9
281.3
301.0
321.5
289.6
242.6
203.5
256.1
257.5
251.5
254.9
248.7
304.1
287.8
694.4
198.4
261.5
292.8
263.1
300.4
309.5
273.7
232.8
199.6
235.4
237.5
248.4
247.1
248.1
311.6
293.6
697.8
204.6
261.6
285.2
275.4
304.2
319.0
286.3
239.3
205.6
245.2
246.8
309.9
284.1
r
283.2
281.2
314.3
r
293.8
r
282.3
r
306.0
250.8
r
314.3
r
289.9
r
698.8
r
208.9
r
263.2
r
279.4
r
281.1
r
301.6
r
321.1
r
289.8
r
242.2
r
204.1
r
256.0
r
257.8
244.8
232.5
250.6
315.0
289.3
702.6
208.6
265.2
284.8
281.8
300.9
320.9
289.5
243.0
202.4
257.5
257.9
249.9
240.8
253.9
314.4
290.6
673.5
211.7
265.0
302.7
283.6
306.1
321.9
293.3
242.8
202.4
257.3
258.1
Seasonally Adjusted $
Finished goods, percent change frcm previous
0.4
Durable
. • do.
Capital equipment
do
PURCHASING POWER OF THE DOLLAR
As measured by:
Producer prices
1967— $1.00
Consumer prices
do..
See footnotes at end of tables.
0.371
0.367
0.356
0.346
0.1
-0.3
0.1
0.0
1.0
0.5
0.5
317.9
311.0
277.5
278.3
257.8
284.6
223.3
330.3
274.5
317.0
309.6
276.8
277.0
257.4
282.9
224.6
326.5
276.0
320.8
308.4
277.1
277.3
261.6
281.6
224.3
324.4
276.5
326.4
308.7
277.1
276.9
262.3
280.7
225.0
322.4
277.8
325.8
309.7
279.9
280.0
263.5
284.6
226.8
327.7
279.5
322.1
310.3
281.2
281.5
259.2
288.5
227.4
334.3
280.5
319.1
310.3
282.5
282.6
259.4
290.1
228.6
336.2
282.3
315.4
310.8
282.8
283.0
258.3
291.2
227.8
338.6
281.9
0.360
0.354
0.360
0.353
0.361
0.353
0.361
0.352
0.360
0.348
0.357
0.344
0.355
0.342
0.354
0.342
0.356
0.341
0.4
0.6
0.2
1.0
0.1
314.3
310.9
r
283.8
r
284.4
r
258.2
r
293.2
r
228.5
r
341.7
r
282.0
317.4
311.9
285.5
286.1
258.4
295.6
229.4
345.2
283.3
316.5
311.8
286.0
286.5
258.7
295.9
2299
345.5
284.6
315.6
310.8
283.0
282.6
258.2
290.5
229.8
335.9
284.3
317.6
310.5
283.4
282.8
259.8
290.0
232.8
332.5
285.6
0.352
0.340
0.351
0.341
0.351
0.342
0.353
'0.341
0.352
0.341
0.1
320.2
311.9
277.3
278.0
256.2
284.8
224.2
330.0
274.9
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
r
S-7
SURVEY OF CURRENT BUSINESS
March 1983
Unless otherwise stated in footnotes below, data
through 1978 and descriptive notes are as shown
hi the 1979 edition of BUSINESS STATISTICS
1981
1982
1983
1982
Jan.
Annual
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
CONSTRUCTION AND REAL ESTATE
CONSTRUCTION PUT IN PLACE
New construction (unadjusted), total
mil. $.
Private total #
do
Residential
do...
New housing units
do
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
238,201
228,724
15,142
14,726
16,705
17,943
19,323
20,932
20,490
21021
21402
21028
185 222
86566
62664
178 562
74352
51989
12 170
4963
3450
11794
4417
3 166
13 349
5175
3 789
14 173
5915
3856
15205
6609
4 175
16 281
6899
4406
15 738
6680
4676
1580]
6628
4846
16005
6602
5 006
16 124
6815
4971
60818
17030
34248
64215
16669
37131
4542
1 226
2619
4575
1 239
2623
5 018
1 338
2898
5 195
1 296
3078
5 383
1 417
3 119
5 776
1 543
3320
7,074
7,140
466
531
639
584
588
654
do
do...
do...
do
52979
50 161
2 971
3 356
3 770
4 118
4 651
17,792
1,722
1655
16,829
1,657
1632
1,186
2932
1,227
113
121
1,290
1,377
1,377
1,468
do
do...
1964
13304
2201
13180
111
93
159
434
5610
1 433
3302
5 615
1 458
3 235
5679
1 465
3 289
5774
1 548
3252
20635
r
!9 377
17 164
!6 097 15 826
r
7066 '6582
5068 r4 580
13 879
6074
4 391
r
r
5397
r
l 338
r
5652
1 369
3 285
652
652
604
599
5 220
5 396
4 905
4538
1,527
1,599
1,461
1,512
1 014 •1 467
4752
1,458
142
141
201
1 563
1 673
1 672
1 649
3 110
1 241
626
5 072
1 206
2940
545
r
3552
3 285
1,344
r
!46
1350
225 1
2226
2246
226 1
2287
231 6
227 6
228 1
228 1
228 8
235 8
r
9KK K
175 5
1730
1736
175 1
1799
182 6
178 7
176 6
177 0
177 7
183 8
r
!86 9
9HO 9
737
510
692
492
700
510
723
496
755
51 0
753
498
73 4
51 5
72 1
52 3
71 5
53 1
74 0
52 3
78 9
54 7
r
83 3
r
90 4
65 2
628
64 1
649
64 2
67 1
18 4
38 0
633
64 2
16 6
37 1
63 5
64 7
IKQ
rl K q
36 8
64 4
17 1
36 8
r
16 6
38 4
640
362
37 8
r
73
8.4
496
74
71
496
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...
114
444
129
138
179
585
51 0
51 0
17.7
16.9
175
16
73
488
165
70
489
168
172
17 1
Buildings (excluding military) #
Housing and redevelopment
Industrial
do....
do....
do...
16.8
Military facilities
Highways and streets
do...
do....
21
115
17
15
18
15
124
11
16
16
23
137
150
137
721
159
384
18
128
131
186
15
15
132
146
168
16
16
133
17
12 1
21
11 7
19
13 1
ll 328 r ll 082 13 036
118
115
105
11 713
88
11 821
94
16 4
37 5
153
144
215
16 7
36 1
150
167
244
154
136
184
35 7
162
138
211
145
157
204
556
127
204
r
717
234 7
57 2
64 2
70 0
1 A ft
40 *%
37 5
74
72
73
65
68
48 9
51 4
51 1
51 1
52 0
r
16 1
16
17
16 9
18
18
16 8
16
16
17 1
19
19
178
r
23
25
27
13 5
23
14 3
25
13 9
ix 1 on
117
1 9 £4Q
19 QHQ
122
131
q QAQ
q 979
q -I orr
9 fW!
11 149
i 127
9 Q^ft
ft 41 ft
14 1
133
1 ^ 444
Ill
1 9 ^98
1 3 RQfi
98
112
0411
10 485
63
KK q
47 7
!6 3
16
14
25
!2 4
20
1Q
19 0
22
97
1Q
r
14 7
CONSTRUCTION CONTRACTS
Construction contracts in 50 States (F.W. Dodge
Division, McGraw-Hill):
Valuation total
mil $
Index (mo. data seas, adj.)
1977=100..
Public ownership
mil $
Private ownership
do
By type of building:
Nonresidential
do
Residential. .
do
Non-building construction
.
do
New construction planning
(Engineering News-Record) §
do....
HOUSING STARTS AND PERMITS
New housing units started:
Unadjusted:
Total (private and public)
thous..
Privately owned
do
One-family structures
do..
Seasonally adjusted at annual rates:
Total privately owned
One-family structures
154 619
11
1
Boeckh indexes:
Average, 20 cities:
Apartments, hotels, office buildings 1977=100..
Commercial and factory buildings
do....
Residences
do....
Engineering News-Record:
Building
1967= 100..
Construction
do
Federal Highway Adm. —Highway construction:
Composite (avg. for year or qtr.)
1977=100..
See footnotes at end of tables.
r
38956
114*524
41 347
113*273
r
2630
r
8698
rg'032
60 088
60*164
33*228
59 208
58*076
37*336
r
3 866
r
2991
r
r
5 793
r
166,366
149,206
1,100.3
10842
7054
1,072.0
1 062 2
6626
r
3050
3 045
105
4 280
8 756
3 394
8 319
3 773 4 360
8 048 11 084
3 745
8*783
10 330
9 276
Q 779
5 273
4 600
3 164
4 400
4 656
2 658
4 233
4 984
2 gQ4
6 113
5 602
3*729
5 Oil
K 99fi
q Q7K
2 372
q 490
n 7/M
4ft1ft
1 Q47
17,683
i2,665
C MK
c cno
4 472
rO 244
13,920
12,102
10,844
14,043
9,119
8,278
11,992
10,385
11,936
13,373
15,530
47.6
47 2
78.7
78 2
51 8
85.1
84 1
99.2
98 8
58 9
91.9
91 1
63 5
107.2
106 8
61 4
97.2
Qfi n
62 0
108.4
infi A.
63 3
111.5
109.9
293
52.0
51 3
32 5
911
561
920
607
911
583
1 028
622
910
617
1 185
1 046
1 134
1 142
558
625
651
683
•i -in K
fifi 3
716
986
564
993
540
803
450
792
436
851
460
879
450
944
488
929
516
1 062
*500
888
497
1 nnq
561
{•K-t
2409
2389
13 9
17 3
22 l
22 3
21 8
23 6
19 4
152.5
221
156.1
156.5
137.4
140.1
136.0
150.0
151.9
147.5
144.1
146.3
142.1
310.3
3289
330.1
3553
324.7
3468
156.7
146.8
248
156.0
119
4 4^0
q 909
K fl97
r £9Q
1 ftQ^
4 ^9fl
K -\AA
5 250
^'414
877
585
do....
do...
New private housing units authorized by building
permits (16,000 permit-issuing places):
Monthly data are seas. adj. at annual rates:
Total
thous
One-family structures
do
Manufacturers' shipments of mobile homes
Unadjusted
thous
Seasonally adjusted at annual rates
do....
CONSTRUCTION COST INDEXES
Dept. of Commerce composite
1977=100..
American Appraisal Co., The:
Average, 30 cities
1913=100..
Atlanta
do....
New York
do....
San Francisco
do....
St. Louis
do....
153 480
10
1
244
156.3
249
156.5
244
154.9
252
154.3
1 1 79
ftfift
1 1 Q9
79Q
11,802
r
r
rQ9 Q
rCl Q
93.9
95.7
rCC Q
K7 7
1 707
1 7^fi
1 ft4O
rQOq
Q9K
83.4
1Hft Q
(•a n
1 361
ft 779
r
lr 280
ft49
ri '-i qe
1 Qf)t>
7qc
•i K n
99 9
91 9
9n A
240
234
222
224
9*51
943
9ft4
155.1
154.8
155.1
155.8
158.4
160.7
163.8
2,643
2,841
2,645
2,873
2,453
146.0
148.5
1431
325.7
347 g
324.8
3472
145.3
149.0
151.1
146 1
325.0
3473
328.6
353 0
152.6
154.3
149 9
328.5
352 9
14fi.fi
330.6
357 9
153.6
1552
151 2
333.5
360 0
332.9
361 0
147R
154.9
1560
152 5
332.8
qcn q
334.5
qc9 q
155.7
1592
153 1
339.6
qcc r>
14fl 1
342.0
2
347.5
S-8
SURVEY OF CURRENT BUSINESS
Unless otherwise stated in footnotes below, data
through 1978 and descriptive notes are as shown
in the 1979 edition of BUSINESS STATISTICS
1981
1982
Annual
March 1983
1982
Jan.
Feb.
Mar.
Apr.
May
June
1983
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
CONSTRUCTION AND REAL ESTATE—Continued
REAL ESTATE f
Mortgage applications for new home construction:
FHA net applications
,.thous. units..
Seasonally adjusted annual rates
do ..
9.8
101
6.3
74
5.2
65
6.7
90
8.2
100
6.8
102
9.8
180
11.8
106
7.9
143
11.3
168
8.3
178
10.6
11 1
13.6
13.0
14.1
12.3
11.9
12.9
15.7
186
15.1
19.5
154
16.9
21.0
606.52
393.60
585.12
421.78
547.57
374.45
589.61
327.85
716.28
443.89
653.80
438.90
592.51
552.50
772.41
743.54
724.61
385.69
771.21 1,083.56
454.78 563.89
914.79 1,100.29
630.80 961.02
65,099
65,089
66,162
67,941
67,801
69,398
69,325
68,399
67,642
67,077
66,308
66,004
62,365
54 298
2628
2 849
3 966
3 807
3797
5 006
4 101
4543
5 112
4724
5314
'8,451
5,202
11,765
21,779
20,754
495
592
966
832
796
859
981
1,647
1,353
1,612
1,363
1,607
1,394
1,052
2,080
1,874
1,921
1,321
1,962
1,600
1,154
1,988
1,970
1,125
1,786
1,813
1,194
1,938
2,182
'1,719
'2,714
'4,018
1,001
1,936
2,265
262.7
5.5
17.0
4.4
28.7
22.8
23.2
9.6
3.5
2.3
28.2
117.5
210.7
7.6
21.2
3.7
22.6
20.9
211.6
13.0
20.1
3.0
23.5
15.8
351.1
17.2
36.8
5.1
30.3
26.9
397.6
16.7
46.2
4.1
28.5
34.3
285.5
11.9
26.9
2.7
24.7
20.8
229.2
8.8
19.3
3.4
20.1
14.2
16.1
8.5
3.2
1.4
27.2
66.6
12.2
6.7
3.2
1.7
31.0
82.8
307.5
23.2
17.9
6.9
30.4
22.3
19.5
17.1
3.9
2.1
32.0
132.1
24.3
16.0
3.7
3.2
34.2
153.1
32.6
17.5
4.4
2.5
38.7
172.0
34.8
10.8
2.4
1,1
32.7
116.7
10.2
8.0
2.3
1.3
31.4
110.1
98,549
39,582
58,967
91,642
37,348
54,294
92,666
38,383
54,283
91,904
38,647
53,257
91,461
38,704
52,757
92,603 r92,685
38,538 r37,986
54,065 '54,699
86,111
35,162
50,949
7.5
128
93
138
8.6
110
91
120
8,087.07
5,428.27
443.87
327.39
65,194
66,004
53 283
11599
28,299
13,385
92.3
99.8
1538
155.0
Home mortgages insured or guaranteed by:
Fed. Hous. Adm.: Face amount
mil. $.. 10,278.14
Vet. Adm.: Face amount §
„
do.... 7,905.93
Requests for VA appraisals
Seasonally adjusted annual rates
do ..
do ...
Federal Home Loan Banks, outstanding advances
to member institutions, end of period
mil. $..
New mortgage loans of all savings and loan
By purpose of loan:
Home construction
Home purchase ,.
All other purposes
..
do ..
,. do....
do....
,
1,204
1,320
937
929
119
143
149
157
137
128
227
238
274
167
278
61,004
DOMESTIC TRADE
ADVERTISING
Magazine advertising (Publishers Information
Bureau):
Cost total
mil $
Automotive, incl. accessories
J J.
T\
3,256.9
'143.4
r
291.7
'59.3
r
320.4
r
234.4
3,421.2
154.4
330.0
52.3
329.3
261.3
211.2
7.9
20.3
2.7
20.1
10.3
'256.9
r
!67.9
'67.7
'29.7
'316.6
1,368.9
258.1
146.7
50.9
26.5
358.0
1,450.6
15.1
7.1
3.5
1.5
21.2
101.4
249.5
8.4
23.5
2.5
27.8
21.1
16.2
6.7
4.2
1.9
24.5
112.5
287.8
15.1
29.6
4.4
27.5
18.5
20.8
12.5
5.5
2.8
27.1
123.3
290.9
15.9
25.5
5.9
30.8
26.2
20.7
14.9
5.2
3.1
28.9
129.6
338.9
11.8
36.5
6.8
34.4
21.2
22.7
19.2
8.0
3.0
32.3
143.0
9,575.4
225.6
2,514.9
387.2
1,380.0
5,067.8
738.3
21.6
208.4
42.6
120.6
345.0
729.6
22.5
197.3
26.0
119.1
364.7
824.3
25.8
218.5
31.3
128.8
419.9
814.7
24.1
209.2
30.6
122.8
428.0
904.9
25.0
233.6
29.4
137.8
479.0
mil. $.. 1,174,072 1,122,468
do.... 499,970 460,931
do.... 674,102 661,517
87,340
35,404
51,936
87,470 103,912
36,578 42,482
50,892 61,430
96,622
39,675
56,947
95,748
37,908
57,840
,
do...,
•] i. •
J
F od fl- d 'nkq co fecHonprv
do
' •
r
Houshold equip., supplies, furnishings
Industrial materials
do....
do
c V
All other
t
H
do
'' 1
Newspaper advertising expenditures (Media
Records Inc.):
Total
mil $
Classified
p
i
Retail
r
do
"
r\
do
WHOLESALE TRADE $
Merchant wholesalers sales (unadj,), total
Durable goods establishments
Nondurable goods establishments
Merchant wholesalers inventories, book value,
end of year or month (unadj.), total
mil. $..
Durable goods establishments
,
do....
Nondurable goods establishments
do....
RETAIL TRADE
111,163
72,345
38,818
r
113,217 111,331 110,187 111,386 113,319 111,342 112,469 112,444 111,116 112,255 114,075 113,581 l!3,217 112,337
73,225 71,575 71,931 73,073 75,265 ?4,169 75,238 76,219 75,031 75,344 75,118 73,737 '73,225 72,157
39,992 39,756 38,256 38,313 38,054 37,173 37,231 36,225 36,085 36,911 38,957 39,844 '39,992 40,180
All retail stores: t
Estimated sales (unadj.) total t
• mil. $.. 1,038,790 1,070,227
Durable goods stores #
do.... 326,596 332,023
Building materials, hardware, garden supply,
50,140
53,164
and mobile home dealers
.......... mil. $,.
180,722 189,335
45,701
44,005
Furniture home furn. and equip
do....
Nondurable goods stores
do .. 712,194 738,204
General merch group stores
do.... 127,494 131,523
Food stores
..
do..,. 237,586 249,910
98,090
Gasoline service stations
do .. 101,665
49,205
47,755
Apparel and accessory stores ................... do...
94,070 103,582
Elating and drinking places .. <. ... do .
34,695
32,999
Drug and proprietary stores
do,..
17,461
Liquor stores
.....
,. do...
Estimated sales (seas adj ) total T
do
Durable goods stores #
.
do
Building materials, hardware, garden supply,
and mobile home dealers $
.. mil $.
Hardware stores
..
do .
Automotive dealers
do
Auto and home supply stores
Furniture home furn and equip $
Furniture home furnishings stores.,
Household aDoliance. radio! TV
...,„
do
do
do
do...
See footnotes at end of tables.
86,129
27,988
87,502
27,903
90,347
29,443
88,426
28,502
90,600
28,116
89,130
87,755
23,365
27,889
27,762
90,877
27,710
93,878 rl!2,348 '80,395 '78,622
29,464 r32,255 '24,631 '25,268
3,058
12,118
3,211
C
54,804
C
7,317
19,966
8,110
3,302
7,279
2,590
1,333
C
85,125
25,316
3,055
13,912
3,143
C
52,192
C
7,342
18,594
7,460
3,168
7,259
2,575
1,257
C
87,216
26,696
3,861
17,068
3,552
58,141
9,473
20,066
7,918
3,729
8,129
2,802
1,362
87,242
26,958
4,308
16,506
3,451
59,599
10,226
20,616
7,819
4,038
8,464
2,829
1,410
88,294
27,984
4,886
17,329
3,477
60,904
10,775
21,157
8,062
3,934
8,889
2,833
1,469
90,841
29,416
4,808
16,225
3,647
59,924
10,143
20,785
8,463
3,649
8,934
2,827
1,450
88,042
4,501
15,880
3,676
61,241
10,519
20,600
8,577
4,130
9,427
2,802
1,439
88,502
4,477
15,828
3,577
59,993
10,119
20,703
8,144
3,919
8,812
2,764
1,389
89,326
4,489
15,788
3,677
63,167
11,089
21,300
8,296
4,157
9,204
2,855
1,434
90,290
27,175
4,665
15,996
3,715
62,484
10,124
22,398
8,852
3,812
9,428
2,827
1,560
89,445
27,403
26,668
27,498
27,849
r
r
4,133
3,937
3,265 1 3,356
16,862 r!5,523 '14,322 1 15,063
r
4,003
5,055 '3,456 '3,317
64,414 r80,093 '55,764 '53,354
r
13,243 20,974
'7,836 1 7,855
20,440 '23,398 '20,040 1 18,987
r
8,030
8,144
'7,494 '6,939
4,495 r6,848 '3,295 '3,094
8,552 '9,039 '8,261 '8,013
'4,033 '2,901 '2,860
2,921
1,439
'2,029
1,273
r
92,546 91,517 '91,033 '90,663
30,175 '29,392 '28,942 '28,691
4,046
2,538
844
13,677
12,083
1,594
4,102
2,668
,777
4,173
2,727
785
4,263
2,829
759
4,480
2,938
820
4,261
2,855
764
4,257
2,861
746
4,076
2,742
714
4,077
2,733
709
4,116
2,796
744
14,819
13,156
1,663
15,175
13,526
1,649
17,269
15,485
1,784
15,288
13,446
1,842
3,652
2,182
1,173
3,723
2,239
1,181
3,641
2,187
1,136
15,671
13,893
1,778
3,600
2,180
1,109
16,123
14,313
1,810
'3,644
2,161
1.180
15,492
13,688
1,804
3,717
2,204
1,222
14,911
13,137
1,774
3,508
2,112
1,137
16,074
14,360
1,714
3,706
2,233
1,184
C
76,508
21,704
C
75,557
3,613
2,187
1,123
3,631
2,242
1,118
4,124
2,776
752
'4,186
2,941
'733
'4,314
3,024
780
'4,481
18,183 '17,039 '16,378 '15,985
16,370 '15,295 '14,651 '14,227
1,727
1,813
'1,744
3,698 '3,919 '3,869 '3,821
2,258 '2,326
2,335
1,175
'1,317
1,278
S-9
SURVEY OF CURRENT BUSINESS
March 1983
1981
Unless otherwise stated in footnotes below, data
through 1978 and descriptive notes are as shown
in the 1979 edition of BUSINESS STATISTICS
1983
1982
1982
Jan.
Annual
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
62,371 r62,125 r62,091 '61,972
11,085 11,360 11,152 11,257
r
9214 *9229
9068 r9,276
r
766
761
741
Dec.
Jan.
Feb.
DOMESTIC TRADE—Continued
RETAIL TRADE— Continued
All retail stores t—Continued
Estimated sales (seas, adj.) —Continued
Nondurable goods stores
General merch. group stores
Department stores ..
...
Variety stores
Food stores
Grocery stores..
Gasoline service stations
C
59 809
C
10,251
C
mil $
do...
.. do
do
,
8503
707
do
,,,., do
do
..
20 213
18666
8 628
3947
Apparel and accessory stores $
do
Men's and boys' clothing ... ... . .. .. .. do .
Women's clothing spec stores furriers do
Shoe stores
,.
,
do...
Eating and drinking places
Drug and proprietary stores
Liquor stores -,--, ,..„,
,,-,.
,,
568
1534
722
do.
do
,. do
Estimated inventories, end of year or month: t
Book value (unadjusted), total
mil. $,
Durable goods stores #
,
do...
Building materials and supply stores .. doAutomotive dealers
,, do...
Furniture, home furn., and equip ........ do...
Nondurable goods stores #..„...„..„....,
General merch. group stores
Department stores
Food stores
,
Apparel and accessory stores
7973
2690
1466
122,236
57,994
9,390
28,211
8,847
do...
do...
do...
do...
do....
64,242
22,515
16,897
13,825
9,574
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....
125,693
58,835
9,822
27,987
9,074
Nondurable goods stores #
General merch. group stores
Department stores ,
Food stores
Apparel and accessory stores
C
60
C
520
10 553
°8 715
60,284
10,833
8992
60310
10700
8861
61425
11 181
9237
60867
10795
8923
62,042
11,039
9 140
61,834
10,895
9003
746
758
61828
10,838
8924
62 441
10,891
9004
20 390
18737
8 363
20 340
18798
8047
4 196
20555
19026
7 827
20984
19390
7935
20648
19017
8 075
20 990
19361
8257
21 067
19428
8 138
21 070
19 469
8 177
21 157
19 578
8206
711
760
721
759
717
732
618
619
4 017
4233
4 001
4 175
4082
4007
1 661
1 599
1 562
1 641
759
1 542
'707
1 595
1 556
1 503
8431
2827
1465
8329
2 880
1 495
8364
2852
1519
8514
2882
1 496
8549
2 920
1 453
8697
2 905
1468
8777
2892
1 449
8699
2950
1 448
4 334
786
781
633
700
679
644
660
754
611
746
654
741
66,858
24,821
18,487
13702
9,952
mil. $..
372,443
391,298
27,194
26,138
30,277
31360
32205
31268
32491
31 914
31507
,, do....
do....
27,216
3,846
28226
4,060
1710
1718
2 115
2205
2370
2 368
2 387
'370
2 305
2 320
do.,..
do....
do....
do....
do....
do....
do....
Durable goods stores
Auto and home supply stores
345,227
116,115
127,517
125,629
18,798
20,125
17,769
363 072
121,318
135,333
133,452
20,133
22,141
19,095
25484
6,753
10934
10797
1,160
1579
1,394
24420
6,814
10086
9,929
1,137
1512
1,374
28162
8,715
10923
10779
1,477
1750
1,524
29 155
9,401
11 204
11031
1,666
1804
1,535
29 835
9,931
11 321
11 175
1,606
1925
1,550
28 900 30 104
9,334
9,279
11 038 12046
10889 11886
1,458
1,534
1 926 2 014
1,518
1,554
29 609
9,686
10 928
10778
1,776
2011
1,521
29 187
9,290
11 201
11 057
1,611
1 856
1,507
31,311
31,951
32,044
31,789
32737
32362
32651
32768
Nondurable goods stores #
,
General merchandise group stores
Food stores
,..,.,
Grocery stores.
Apparel and accessory stores
,
Eating places.....
,
Drug stores and proprietary stores
Estimated sales (sea. adj.), total #
Auto and home supply stores
Department stores..,,.,,..
Variety stores
Grocery stores ......
..
do...,
,,.. do....
.... do .
do....
do
Apparel and accessory stores
,
Women's clothing, spec, stores, furriers.,
Shoe stores
,
Drug stores and proprietary stores
21086 r21 211 r20 815
19481 19 690 19 370
r
821]
8071 '7998
r
4 026
4019
4 120 14r 074
628
'631
634
633
1 557 1 609 1 601 1 633
r
730
740
714
724
9050
9059 rrg 941 r9 138
r
2943
2 912
2 962
3 057
1 463 1 442 1 424 1 418
123,231 119,899 120063 123 374 123 540 122 399 124 049 124 371 125 253 129 065 133 667 r!34 324
58,151 57,454 56869 57,842 57780 57319 58419 58462 57 935 59131 60 146 r59 956
9,822
9,372
9,657
9,795
9,970
9,997
9,804
9,638
9,951
9,868
9,749 r9,859
28,038 28,249 27384 28097 27624 27207 28483 28 762 27657 28 179 28 507 r28 020
r
8,939
8,663
8,605
8,630
8,630
8,688
8,939
8,772
8,738
9,156
9356
9,339
65,080 62,445 63194 65,532 65 760 65080 65630 65909 67318 69934 73521 '74 368
22,967 22,113 22,575 24,016 24,411 24,070 24,324 24,686 25,435 26,781 28,890 '29^106
17 120 16,600 16882 18025 18395 18069 18039 18128 18722 19 760 21 511 r21 896
14,774 13,573 13,724 13,907 13907 13825 14009 13702 13586 13830 14 461 r!4 892
9,620
9,565 10,054
9,249
9,837
9,945
9,882
9,963 10,533 10,976 11,247 11,184
126,848 124,131 123,395 123,332 123,175 122,367 124,351 124,939 127,151 129,073 128,628 126,638
59,058 57,807 56,957 56,803 56663 55984 57346 58246 60075 61628 60708 r59 059
10,285
9,652
9,638
9,500
9,587
9,734
9,785
9,863
9,745
9,878
9,857 10,019
27,843 27,695 27 006 27,068 26716 25911 27414 28337 29803 30931 30008 r28 274
9,178
8,968
8,826
8,708
8,604
8,679
8,791
9*056
8J28
8,886
8,996 r9,058
67,790 66,324 66,438 66,529 66,512 66,383 67,005 66,693 67,076 67,445 67,920 r67,579
25,358 24,666 24611 24689 24620 24444 24 751 24929 25109 25018 25611 *25 431
18,751 18,465 18,470 18,506 18469 18270 18'370 18442 18629 18589 19 138 18 941
16642 13766 14018 13824 13893 13 979 14 165 13896 13835 13 956 13 999 14 237
10,000 10,097 10,197 10,301 10,200 I0'l77 10,236 10,115 10,296 10,325 10,132 10,013
do....
do,...
do....
do....
do....
Firms with 11 or more stores:
Estimated sales (unadjusted), total
736
275
329
8330
550
259
339
8539
563
323
337
8 668
598
10 733
10863
10 910
1598
'674
do....
do....
do,...
do....
1710
1664
358
1,488
718
368
1,561
697
365
1,611
352
329
8 517
586
10987
1 614
676
342
1,547
346
341
8 914
619
11 130
1724
713
388
1,578
359
332
8626
571
11 044
1 614
679
353
1,588
32932
348
8 830
602
11 140
1 740
713
379
1,604
348
338
8680
604
11 321
1 680
700
357
1,575
345
344
8632
587
11 225
1 631
670
349
33278 *35 521
r
2347
1,640
232 43
23263
67790
25 358
18 751
16642
10,000
48 145
32 946
12,241
1 135
1
10 987
1,934
1 860
1,625
44 339
49 695
12996
12763
3,045
1 927
2442
r
36 702
33r046
348
r
8 731
r
587
582
11 213 11 257
1,640
126,848
59058
10,285
27 843
9,178
3 806
8 699
348
65 080
22,967
17 120
14774
9,620
r
341
1 664
'704
19 242
13 133
123 231
58 151
9,822
28 038
8939
2575
r
362
359
30931
10,179
11 521
11 381
1729
1 977
1,551
32716
120 834
19432
1
7 753
14 175
1 736
729
367
362
336
9 100
605
11 436
1 722
732
370
1,651
1,614
23284
23301
LABOR FORCE, EMPLOYMENT, AND EARNINGS
POPULATION OF THE UNITED STATES
Total, incl. armed forces overseas $
LABOR FORCE
...mil..
Not Seasonally Adjusted
Labor force, total, persons 16 years of age
and over
,.
thous
Armed forces
„, ,
,,,.,.... do...,
Civilian labor force, total...,
„...„„.,
do....
Employed . . . .
do
Unemployed
,,
,
do .
Seasonally Adjusted 11
Civilian labor force, total.......
,
do .
Participation rate *
..............percentEmployed, total
,
.„...
....thous..
Employment-population ratio *
percent..
Agriculture
...thous..
Nonagriculture
do....
Unemployed, total .,.„.,
Long term, 15 weeks and over
See footnotes at end of tables.
401-010 0 - 83 - S2
,
do....
do..,.
3
3
110 812
2,142
108,670
100 397
8,273
112 383 110 173 110 492 110 936 110 990 112 089 113 742 114 706 114 083 119 7 Ad 119 Q*>fi 1 1 q fjqK 119 CKQ
9 1 QQ
2*179
9 1 AQ
2159
2 168
2 175
2*176
2 173
2 175
2 180
2 196
2 198
2 180
2 188
2 182
110,204 108,014 108,324 108J61 108314 109,914 111,569 112,526 111,887 110,546 110,767 110^855 110,477 109,779 109,647
99 526 97 831 97 946 98471 98 858 99 957 100 683 101 490 101 177 QQ OKI QQ fl9*? QQ Q7Q QQ QAQ Q7 9fl9
10 678 10 183 10378 10 290
9*957
9 957 10886 11 036 10 710 10 695 10 942 11 476 1 1 fi9P, 1 o C1 7 1 9 009
229.81
63.9
58.3
3,368
97,030
2,285
231.99
23101
231 18
23132
23148
23163
23181
23199
23222
109 034 109 364 109 478 109 740 110 378 110 147 110 416 110 614 110 858 110 752 111 042
63.6
63.8
63.8
63.9
64.1
64.2
64.0
64.1
64.2
64.1
64.2
99688 99695 99597 99484 99994 99681 99 588 99683 99 543 99 176 99 136
57.5
57.1
57.4
57.3
57.2
57.4
57.2
57.1
57.1
56.9
56.6
56.6
3,401
3,379
3,367
3,367
3,356
3,446
3,371
3,445
3,429
3,363
3,466
3,413
96,125 96,309 96,328 96,230 96,128 96,548 96,310 96,143 96,254 96,180 95,763 95,670
9,346
9669
9881 10256 10 384 10 466 10 828 10931 11 315 11 576 11 906
3,485
2,402
2,750
2,962
3^080
3^267
3'517
4,167
3^69
3,637
3,856
4,524
64.0
233 27
1111 9Q
1 1 0 %AR
64.2
99 093
56.5
3,411
95,682
12 036
4,732
63.8
99 103
57,2
3,412
95,691
11 446
4',634
i in *?<w
63.7
QQ Ofi^l
57.1
3,393
95,670
11 490
4,618
S-10
SURVEY OF CURRENT BUSINESS
Unless otherwise stated in footnotes below, data
through 1978 and descriptive notes are as shown
in the 1979 edition of BUSINESS STATISTICS
1981
1982
Annual
March 1983
1982
Jan.
Feb.
Mar.
Apr.
May
June
1983
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
LABOR FORCE, EMPLOYMENT, AND EARNINGS—Continued
LABOR FORCE—Continued
Seasonally Adjusted H
Civilian labor force—Continued
Unemployed—Continued
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
7.6
6.3
6.8
19.6
9.7
8.8
8.3
23.2
8.6
7.6
7.2
21.7
8.8
7.7
7.6
22.3
9.0
8.0
7.9
21.9
9.3
8.3
8.1
22.8
9.4
8.3
8.2
22.9
9.5
8.7
8.1
22.5
9.8
8.9
8.3
23.9
9.9
9.0
8.3
23.8
10.2
9.6
8.4
23.8
10.5
9.8
8.7
24.1
10.7
10.0
9.0
24.2
10.8
10.1
9.2
24.5
10.4
9.6
9.0
22.7
10.4
9.6
8.9
22.2
White
Black and other
Married men, spouse present
Married women spouse present
Women who maintain families
6.7
14.2
4.3
6.0
10.4
8.6
17.3
6.5
7.4
11.7
7.6
15.5
5.3
6.3
10.4
7.7
16.0
5.4
6.9
10.4
7.9
16.6
5.6
7.0
10.8
8.3
16.8
6.0
7.6
11.5
8.4
17.1
6.1
7.3
11.9
8.4
17.1
6.4
7.1
12.1
8.7
17.4
6.6
7.4
12.0
8.7
17.7
6.8
7.3
11.7
9.1
18.1
7.2
7.6
12.4
9.3
18.4
7.5
7.9
11.3
9.6
18.5
7.6
8.2
12.5
9.7
18.8
7.8
8.2
13.2
9.1
19.0
7.1
7.8
13.2
9.2
18.0
7.2
7.6
13.0
4.0
10.3
4.9
14.3
4.3
12.4
4.6
12.5
4.7
13.0
4.8
13.5
4.8
13.6
4.9
14.0
4.9
14.4
4.9
14.4
4.9
15.5
5.2
15.8
5.5
16.2
5.6
16.3
7.7
15.6
8.3
8.2
10.1
20.0
12.3
13.3
8.8
18.5
10.3
10.9
9.0
18.3
10.6
11.2
9.4
18.2
10.7
10.8
9.8
19.3
11.3
11.9
9.8
18.9
11.5
12.2
10.0
19.5
12.2
13.1
10.2
20.3
12.1
12.8
10.2
20.4
12.4
13.3
10.7
22.0
13.6
14.9
11.0
22.3
14.1
16.0
11.4
21.8
14.8
17.0
11.6
22.0
14.8
17.1
10.6
20.0
13.0
14.7
r
89,358
r
r
87,719
r
Occupation:
White-collar workers
Industry of last job (nonagricultural):
Private wage and salary workers
Construction
Manufacturing
Durable goods
EMPLOYMENT f
C)
H
10.8
19.7
13.3
14.7
Employees on payrolls of nonagricultural estab.:
Total, not adjusted for seasonal variation ....thous..
Private sector (excl government)
do
Seasonally Adjusted t
91,105
75,081
89,269
73,407
89,413
73,328
89,679
73,503
89,984
73,830
90,455
74,295
90,570
74,599
89,238
74,230
89,058
74,180
89,520
74,129
89,533
73,689
89,487
73,505
Total employees, nonagricultural payrolls
Private sector (excl. government)
Nonmanufacturing industries
Goods-producing
Mining
do....
do....
do
do...
do....
91,105
75,081
54,908
25,481
1,132
4,176
do....
do....
do....
do....
do....
20,173
12,117
668
467
638
1,121
1,592
2,507
2,092
1,892
726
410
8,056
1,674
69
822
1,244
687
1,265
1,107
215
736
233
90,459
74,609
55,155
24,631
1,203
3,974
19,454
11,575
611
449
596
1,024
1,505
2,446
2,048
1,778
718
400
90,304
74,445
55,126
24,450
1,197
3,934
19,319
11,490
607
446
590
1,007
1,496
2,419
2,038
1,774
716
397
90,166
74,313
55,198
24,255
1,152
3,988
19,115
11,332
617
443
586
945
1,472
2,377
2,034
1,755
713
390
89,839
74,007
55,077
23,994
1,124
3,940
18,930
11,203
615
442
580
926
1,452
2,322
2,026
1,745
708
387
89,535
73,900
55,087
23,840
1,100
3,927
18,813
11,133
614
439
579
906
1,446
2,274
2,018
1,759
708
390
89,313
73,640
54,968
23,657
1,086
3,899
18,672
10,993
614
443
574
889
1,427
2,230
2,011
1,719
702
384
18,572
10,900
616
439
571
865
1,414
2,208
1,995
1,709
701
382
88,877
73,118
54,793
23,239
1,058
3,856
18,325
10,666
614
434
565
831
1,381
2,142
1,969
1,658
694
378
7,879
1,663
68
111
1,201
670
1,276
1,093
208
708
215
7,829
1,658
68
760
1,186
668
1,278
1,088
207
703
213
90,083
74,231
55,062
24,289
1,182
3,938
19,169
11,375
615
443
584
976
1,481
2,389
2,034
1,748
713
392
7,794
1,643
67
773
1,165
664
1,274
1,082
206
706
214
89,264
73,504
54,932
23,530
1,075
3,883
Manufacturing
Durable goods
Lumber and wood products
Furniture and fixtures
Stone, clay and glass products
7,783
1,652
67
759
1,165
661
1,274
1,079
207
708
211
7,727
1,637
67
741
1,161
658
1,269
1,073
205
704
212
7,680
1,643
65
741
1,126
657
1,267
1,068
205
700
208
7,679
1,628
65
737
1,145
653
1,269
1,070
205
699
208
7,672
1,629
63
735
1,143
657
1,269
1,066
209
694
207
7,659
1,644
63
735
1,141
650
1,268
1,061
208
684
205
65,625
5,157
20,551
5,359
15,192
5,301
18,592
16,024
2,772
13,253
90,460
74,596
55,079
24,684
1,201
3,966
19,517
11,622
607
452
596
1,038
1,515
2,459
2,055
1,777
720
403
7,895
1,657
69
780
1,201
674
1,275
1,095
210
712
222
65,776
5,125
20,630
5,346
15,284
5,326
18,831
15,864
2,741
13,123
65,828
5,115
20,670
5,343
15,327
5,326
18,867
15,850
2,737
13,113
65,854
5,100
20,655
5,336
15,319
5,336
18,904
15,859
2,736
13,123
65,794
5,094
20,584
5,323
15,261
5,335
18,929
15,852
2,730
13,122
65,911
5,101
20,652
5,331
15,321
5,342
18,963
15,853
2,728
13,125
65,845
5,078
20,595
5,307
15,288
5,352
18,988
15,832
2,739
13,093
65,695
5,044
20,615
5,299
15,316
5,359
19,042
15,635
2,737
12,898
65,656
5,025
20,550
5,278
15,272
5,360
19,048
15,673
2,740
12,933
65,734
5,031
20,492
5,272
15,220
5,367
19,084
15,760
2,731
13,029
65,638
5,007
20,441
5,254
15,187
5,357
19,074
15,759
2,740
13,019
r
88,750 r88,532 r88,895 "88,715
72,996 r72,810 r73,169 "72,978
P
r
54,679 r54,972 54,757
54,815 r
23,081 22,986 23,141 "23,018
r
1,028 "1,015
l,037
1,046
3,854 r3,818 r3,916 "3,782
r
18,181 !8,131 18,197 "18,221
10,550 10,519 10,563 "10,602
r
"636
632
621
616
r
r
"436
436
436
435
r
"555
553
552
556
r
r
"812
813
803
813
"1,372
1,368
1,358
1,365
r
r
2,064 "2,057
2,086
2,108
"1,965
1,959
1,963 1,946
"1,708
1,677
1,631
1,662
r
r
"684
684
682
689
r
r
"377
377
373
374
r
7,612 r7,634 "7,619
7,631
"1,628
1,640
1,644 1,636
r
r
"67
67
66
61
r
"723
722
725
726"
"1,136
1,144
1,131
1,134
"647
'650
650
652
"1,270
1,269
1,266 1,265
"1,056
1,053
1,054
1,059
r
"206
207
206
206
r
"685
680
678
678
r
"201
202
201
205
r
r
65,669 65,546 65,754 "65,697
r
4,983 '4,959 "4,951
4,992
20,425 r20,316 r20,500 "20,431
5,228 r5,205 '5,198 "5,178
15,197 15,111 15,302 "15,253
'5,390 "5,401
5,363 r5,377
19,135 19,148 19,179 "19,177
15,754 15,722 15,726 "15,737
r
2,751 "2,751
2,728
2,745
13,009 12,994 12,975 "12,986
60,881
14,021
59,135
13,200
59,094
13,168
59,257
13,093
59,562
12,971
60,027
12,958
60,284
12,931
59,931
12,618
59,868
12,674
50,868
12,773
59,478
12,493
59,305 r59,235 r57,854 "57,592
12,313 12,193 12,099 "12,157
60,881
18,245
832
3,250
14,021
8,301
556
376
491
861
1,173
1,585
1,312
1,216
428
304
60,248
17,251
875
3,035
13,341
7,793
497
359
452
780
1,096
1,526
1,266
1,102
420
295
60,282
17,225
876
3,059
13,290
7,759
502
356
452
770
1,089
1,514
1,258
1,108
418
292
60,132
17,073
871
3,023
13,179
7,685
497
353
446
756
1,081
1,490
1,248
1,109
415
290
59,923
16,922
863
3,017
13,042
7,576
507
350
441
727
1,069
1,460
1,241
1,086
41
284
60,025
16,917
835
3,074
13,008
7,553
507
350
444
702
1,063
1,454
1,240
1,098
412
283
59,759
16,686
805
3,029
12,852
7,443
506
349
438
686
1,046
1,408
1,233
1,089
407
28
59,670
16,564
782
3,022
12,760
7,388
505
346
438
669
1,04
1,36
1,22
1,11
40
28
59,388
16,414
770
2,997
12,647
7,272
506
350
435
657
1,027
1,328
1,215
1,075
402
277
59,303
16,308
763
2,979
12,566
7,191
507
346
433
638
1,017
1,309
1,202
1,064
399
276
58,929
16,037
746
2,956
12,335
6,979
505
342
427
607
989
1,250
1,180
1014
392
273
58,788 r58,635 r58,960 "58,755
15,895 15,814 15,966 "15,848
r
r
"700
715
727
739
2,953 r2,915 r3,013 "2,870
12,203 12,172 12,238 "12,278
6,874 r6,853 r6,908 "6,951
r
r
"526
523
508
512
r
"343
344
342
343
r
"420
417
420
416
r
r
"597
595
59
584
r
r
"986
971
983
975
"1,187
1,190
1,206
1,22
"1,182
1,156
1 174
1,17
"1,055
1,028
990 1,015
r
"385
384
387
383
r
270
"270
269
267
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
doWholesale 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...
Seasonally Adjusted t
Production or nonsupervisory workers on private
nonagricultural payrolls 1"
thous.
Mining
Construction
Manufacturing
Durable goods
Lumber and wood products
Furniture and fixtures
Stone, clay, and glass products
Primary metal industries
Fabricated metal products
Machinery except electrical
Electric and electronic equipment
Transportation equipment
Instruments and related products
do..
• do..
do...
•• do...
do...
do..
dodo..
do..
do..
do..
do..
do..
"Mi ar>oll anemia marmfflrfnTrincr
Hn
See footnotes at end of tables.
73,410
"87,700
71,992 "71,730
S-ll
SURVEY OF CURRENT BUSINESS
March 1983
Unless otherwise stated in footnotes below, data
through 1978 and descriptive notes are as shown
in the 1979 edition of BUSINESS STATISTICS
1981
Annual
1983
1982
1982
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Oct.
Sept.
Nov.
Dec.
Jan.
Feb.
LABOR FORCE, EMPLOYMENT, AND EARNINGS—Continued
EMPLOYMENT t—Continued
Seasonally Adjusted t
Production or nonsupervisory workers—Continued
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
r
5,330
1,124
r
53
r
618
r
967
483
r
692
r
586
122
517
168
P
5,327
"1,117
P
51
P
620
P
958
P
484
P
692
P
591
P
124
"523
P
167
42,893 r42,821 '42,994
r
4,113 r4,109
4,087
17,803 17,722 17,889
r
r
4,209
4,192
4,182
13,594 13,530 13,707
r
4,005 r4,008
4,008
16,972 16,982 17,010
42,907
P
4,080
17,831
P
4,163
P
13,668
P
4,013
P
16,983
thous
do
do..
do
do..
dodo..
dodo..
do..
do..
5,721
1,151
54
712
1,059
518
698
627
135
569
197
5,548
1,135
54
670
1,018
504
699
612
125
544
187
5,531
1,142
53
667
1,018
501
699
609
124
538
180
5,494
1,138
53
651
1,006
499
701
609
124
534
179
5,466
1,125
52
662
987
496
698
602
123
541
180
5,455
1,133
52
650
985
493
699
600
123
543
177
5,409
1,121
52
633
982
489
696
595
122
542
177
5372
1,129
51
634
949
489
694
591
122
541
172
5,375
1,115
5
630
967
487
695
593
122
540
175
5,37
1,11
49
63
966
492
695
592
126
535
173
5,356
1,128
48
63
963
484
694
588
125
525
170
do
do..
dododo...
dodo
42,778
4,277
17,960
4,360
13,600
4,002
16,539
42,997
4,241
18,011
4,332
13,679
4,007
16,738
43,057
4,232
18,061
4,327
13,734
4,003
16,761
43,059
4,217
18,051
4,317
13,734
4,004
16 787
43001
4,209
17,996
4301
13,695
3,999
16,797
43,108
4,212
18,065
4,309
13,756
3,998
16 833
43,073
4,194
18,014
4,287
13,727
4,012
43,106
4,165
18,037
4,282
13,755
4,013
•tc pq-i
42,974
4,142
17,941
4,260
13,681
4,006
42,995
4,155
17,889
4,253
13,636
4,01;
42,892
4,129
17,841
4,237
13,604
4,001
Ifi Q91
33.9
34.4
42.9
33.3
34.8
35.0
43.6
35.9
34.7
34.9
43.8
37.0
34.6
34.9
42.7
36.7
34.8
35.0
42.6
37.5
35.0
34.9
42.8
37.5
35.2
34.9
42.5
38.0
35.2
34.8
42.4
37.6
34.8
34.8
41.9
36.9
34i7
41.9
37.1
34^7
41.6
2.8
37.1
37.6
2.3
39.2
39.4
2.4
39.1
39.0
23
38.7
39.0
2.4
39.0
39.1
2.3
39.3
39.2
2.4
38.9
39.2
2.4
39.0
39.0
24
38.9
38.8
2.3
39.0
38.8
2.3
38.9
2.3
39.7
38.9
2.3
39.2
2.1
38.5
37.6
40.2
38.2
39.0
39.2
39.2
40.8
39.2
38.6
39.2
2.1
38.5
r
37.7
40.0
r
38.9
r
39.1
39.3
39.3
39.9
39.6
r
38.4
38.5
2.5
39.2
r
37.9
38.4
35.0
5,32
1,12
46
622
956
485
693
588
124
517
170
r
5,31
1,12
r
5
r
62
r
95
48
r
69
r
586
123
517
166
P
P
AVERAGE HOURS PER WEEK t
Seasonally Adjusted
Avg. weekly hours per worker on private nonagric.
payrolls: |j Not seasonally adjusted ...... hours.
Seasonally adjusted
doMining $
do.
Construction iji
.
do
Manufacturing:
Not seasonally adjusted
do
Seasonally adjusted
do...
Overtime hours
.
. d o
35.2
43.7
36.9
39.8
r
r
34.6
r
P
34.2
P
r
r
42.5
r
P
35.1
34.8
42.2
36.8
qq q
Durable goods
Overtime hours
Lumber and wood products
Furniture and fixtures
Stone, clay and glass products
Primary metal industries
Fabricated metal products
Machinery, except electrical
Electric and electronic equipment
Transportation equipment
Instruments and related products
Miscellaneous manufacturing
do
do..
do—
do
do
do—
do
do
do—
do
do—
do—
40.2
2.8
38.7
38.4
40.6
40.5
40.3
40.9
39.9
40.9
40.4
38.8
38.2
2.2
35.0
33.6
38.6
38.3
38.1
39.3
38.3
39.0
39.0
37.3
39.8
2.2
37.9
37.7
40.1
39.4
39.7
40.7
39.8
40.5
39.9
38.6
39.5
2.2
37.6
37.3
40.0
38.8
39.5
40.2
39.4
40.4
39.9
38.6
39.5
2.2
37.6
37.4
40.0
38.5
39.4
40.1
39.3
41.1
39.9
38.5
39.6
2.2
38.5
37.5
40.2
38.5
39.5
39.8
39.4
41.1
40.2
38.7
39.7
2.3
38.7
37.8
40.4
38.9
39.4
39.6
39.5
41.6
40.2
38.6
39.7
2.2
38.6
37.6
40.6
38.9
39.5
39.8
39.8
41.0
40.1
38:7
39 4
2.2
38.2
37.9
40.3
38.8
39.2
39.5
39.3
40.5
40.1
38.6
38.9
2.1
, 38.1
40!2
37.8
38.8
39.0
38.8
39.8
39.8
38.3
39.0
2.0
38.0
37.5
40.2
38.0
38.9
39.2
39.0
40.1
39.4
38.6
Nondurable goods
Overtime hours
Food and kindred products
Tobacco manufactures $
Textile mill products
Apparel and other textile products
do
do
do....
do
do
do—
39.1
2.8
39.7
38.8
39.6
35.7
36.8
2.5
39.1
36.1
32.3
31.4
38.9
2.6
40.2
38.3
38.3
35.5
38.5
2.5
39.5
37.3
37.6
35.0
38.4
2.6
39.4
36.6
37.7
34.7
38.5
2.5
39.4
37.2
37.9
34.8
38.6
2.5
39.5
38.4
37.8
35.1
38.6
2.6
39.5
36.8
37.7
35.2
38.5
2.6
39.1
38.1
38.2
35.0
38.6
2.6
39.4
39.7
38.1
35.2
38.5
2.6
39.7
39.0
38.2
35.0
38.5
2.5
39.4
38.0
38.6
35.1
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—
dodo—
42.5
37.3
41.6
43.2
40.3
36.8
41.3
36.9
41.0
44.3
37.9
34.1
42.3
37.4
.41.2
43.5
40.0
35.6
41.8
37.1
40.7
43.5
39.6
35.8
42.1
37.1
40.7
44.0
39.8
35.6
41.8
36.8
41.0
44.1
39.9
35.6
42.0
37.1
41.0
44.1
40.1
35.7
41.9
37.0
40.9
43.3
40.2
36.1
41.7
36.8
40.9
43.9
39.7
36.0
41.5
37.0
41.2
44.0
39.6
35.7
41.7
36.9
40.8
43.3
39.0
35.2
41.6
37.1
40.6
43.9
39.3
35.9
Transportation and public utilities $
Wholesale and retail trade
Wholesale trade
Retail trade
Finance, insurance, and real estate $
Services
.
.
dodo
do
do
do.. .
do
39.4
32.2
38.6
30.1
36.3
32.6
38.5
31.7
38.1
29.7
36.2
32.5
39.2
32.0
38.5
29.9
36.2
32.6
39.0
31.9
38.4
29.8
36.3
32.6
38.8
31.8
38.3
29.8
36.2
32.7
38.8
32.0
38.5
30.0
36.3
32.7
39.2
31.9
38.6
29.8
36.1
32.7
39.2
31.9
38.5
29.9
36.2
32.6
39.3
31.9
38.5
29.9
36.3
32.6
38.8
32.1
38.4
30.1
36.1
32.8
38.8
31.9
38.3
29.9
36.2
32.6
39.0
31.8
38.4
29.8
36.2
32.6
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
doFinance, insurance, and real estate
do—
Services ....
do
Government
do
169.96
139.05
2.58
8.01
41.69
10.57
34.54
10.01
31.65
30.91
165.66
136.28
2.73
7.28
39.44
10.43
34.25
10.03
32.11
29.38
168.93
137.80
2.73
7.76
39.93
10.46
34.64
10.01
32.27
31.13
167.92
136.61
2.73
7.61
39.31
10.40
34.36
10.06
32.14
31.32
167.23
135.98
2.65
7.53
38.92
10.36
34.26
10.05
32.21
31.25
167.99
136.79
2.58
7.75
39.06
10.37
34.60
10.14
32.29
31.20
166.52
135.78
2.51
7.49
38.79
10.34
34.32
10.09
32.24
30.73
166.16
135.75
2.45
7.56
35.58
10.27
34.48
10.09
32.33
30.40
165.61
7^47
38.24
10.22
34.38
10.12
32.33
30.47
165.60
134.87
2.34
7.30
37.82
10.16
34.45
10.13
32.66
30.73
164.35
133.69
2.29
7.30
37.36
10.13
34.13
10.08
32.41
30.66
Indexes of employee-hours (aggregate weekly): fl
Private nonagric payrolls total
1977 — 100
Goods-producing
do
Mining ..
do
Construction
do
Manufacturing
do.
Durable goods..
.
do
Nondurable goods
do
Service-producing
do.. .
Transportation and public utilities
doWholesale and retail trade
do.
Wholesale trade
do
Retail trade
do
Finance, insurance, and real estate
deServices
do—
108.0
100.9
134.5
108.9
97.8
98.0
97.6
111.9
105.1
106.5
111.7
104.5
117.4
119.3
104.3
91.4
141.6
96.8
88.0
87.3
89.0
111.4
102.8
105.2
109.7
103.4
116.9
120.3
106.2
95.6
143.7
102.9
91.9
90.6
93.8
112.1
103.7
106.3
110.7
104.6
116.8
120.9
105.6
93.9
142.6
101.1
90.3
89.1
92.0
112.0
103.3
105.9
110.2
104.2
117.1
121.1
105.2
93.0
138.4
100.9
89.3
87.8
91.5
111.9
102.8
105.5
109.5
103.9
117.0
1 21 .5
105.7
93.3
133.6
104.5
89.2
87.8
91.4
112.5
102.6
106.5
110.3
105.1
117.9
121 fi
104.9
91.9
128.2
101.0
88.4
86.7
91.0
112.1
102.2
105.8
110.0
104.2
117.4
191 n
104.8
91.4
125.1
101.9
87.8
86.1
90.3
112.2
101.5
106.1
109.6
104.7
117.4
191 ft
104.1
90.0
121.4
100.5
86.5
84.1
90.0
111.8
101.2
105.5
109.0
104.2
117.2
103.9
88.7
118.6
98.3
85.5
82.2
90.3
112.3
100.7
105.6
108.6
104.5
117.4
102.8
87.2
115.2
97.2
83.9
80.0
89.7
111.5
100.1
104.8
107.9
103.6
117.0
r
41.6
37.1
r
40.9
r
44.4
39.6
35.8
r
r
39.1
32.1
38.4
30.2
r
36.3
r
32.7
35.1
36.9
r
39.2
39.8
r
9 q
Aft
-I
2.1
40.7
r
38.9
r
41.4
39.0
r
39.8
r
r
34.4
40.8
"35.4
P
38.7
38.9
P
2.4
P
P
39.3
P
2.3
P
39.0
P
39.3
37.6
"39.9
"38.8
"39.2
"39.3
"39.2
"40.8
"39.4
"37.6
2.5
39.3
r
36.6
40.3
r
36.9
"38.4
"2.5
P
38.9
"36.9
"38.9
"34.9
39!s
P
41.6
r
40.6
r
r
41.7
r
37.6
r
r
41.0
45.1
r
40.2
r
36.6
r
38.4
r
32.0
38.6
r
30.0
'36.6
32.8
"41.4
"37.0
"40.9
"44.7
"39.6
"34.4
"38.0
"31.4
"38.2
"29.3
"36.2
"32.5
AGGREGATE EMPLOYEE-HOURS t
Seasonally Adjusted
See footnotes at end of tables.
166.14
135.45
2.49
7.47
38.20
10.34
34.32
10.09
32.35
30.69
191 ft
199Q
199ft
163.43 164.24
133.30 133.37
r
2.26
2.26
r
7.31
7.28
37.06
36.85
10.09
10.88
r
33.95
34.04
10.10
10.16
r
32.53
32.69
30.13
30.87
102.6
86.7
113.8
97.4
83.3
79.2
89.4
111.4
100.2
104.3
107.4
103.1
117.2
1994
102.8
r
86.4
112.8
r
97.0
83.1
78.9
89.2
111.8
99.9
104.9
107.0
104.0
117.6
r199 Q
165.85 "163.76
134.84 "132.77
r
P
2.31
2.16
7.98
"7.29
r
37.33 "37.09
r
9.96
"9.81
r
34.21 "33.64
10.25
"10.14
32.81
"32.65
r
31.01 "30.98
104.2
r
89.7
114.4
106.5
r
85.3
r
81.4
r
91.2
112.2
r
98.8
105.4
107.3
104.7
118.5
riOQ A
"101.8
"86.5
"107.5
"94.9
"83.8
"80.3
"89.2
"110.3
"96.9
P
103.0
P
105.7
P
102.0
P1 OO 1
S-12
SURVEY OP CURRENT BUSINESS
Unless otherwise stated in footnotes below, data
through 1978 and descriptive notes are as shown
in the 1979 edition of BUSINESS STATISTICS
1981
March 1983
1982
1982
Jan.
Annual
Feb.
Mar.
Apr.
May
June
1983
Aug.
July
Oct.
Sept.
Nov.
Dec.
Jan.
Feb.
LABOR FORCE, EMPLOYMENT, AND EARNINGS—Continued
HOURLY AND WEEKLY EARNINGS f
Average hourly earnings per worker: 1
Not seasonally adjusted:
Private nonagric. payrolls
dollarsMining
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
Seasonally adjusted:
Construction
..
...
do ..
Manufacturing
..
... do....
Transportation and public utilities
do....
Wholesale and retail trade
do....
Finance insurance and real estate .,
do..,.
Indexes of avg. hourly earnings, seas, adj.: U
Private nonfarm economy:
Current dollars.........
,
1977—100..
1977 dollars t
. . . 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:
AM wor&ers, ciuoi g p e e
e . ... <j> p
AJI worKers,
e
p
vv orders rece
J"
vf
1
H
7.55
10.65
11.59
8.42
8.17
8.92
8.68
7.38
6.28
8.70
11.23
8.55
9.19
7.98
10.79
7.93
6.27
7.67
7.42
7.82
9.21
5.76
5.18
9.06
8.58
9.68
11.91
7.51
5.19
10.10
6.17
7.94
5.43
6.56
6.79
7.54
10.62
11.32
8.34
8.10
8.89
8.65
7.27
6.19
8.62
11.20
8.57
9.20
7.96
10.82
7.94
6.29
7.55
10.62
11.33
8.37
8.13
8.91
8.68
7.28
6.21
8.65
11.15
8.64
9.18
8.01
10.89
8.00
6.32
7.58
10.65
11.32
8.42
8.19
8.94
8.72
7.24
6.21
8.72
11.24
8.69
9.24
8.03
10.89
8.07
6.35
7.63
10.66
11.46
8.45
8.22
9.01
8.77
7.41
6.23
8.80
11.23
8.79
9.26
8.05
11.08
8.16
6.38
7.64
10.82
11.41
8.50
8.25
9.06
8.81
7.59
6.30
8.86
11.31
8.83
9.27
8.09
11.21
8.23
6.41
7.67
10,91
11.53
8.55
8.31
9.11
8.87
7.64
6.34
8.93
11.37
8.85
9.30
8.18
11.25
8.31
6.40
7.70
10.93
11.60
8.51
8.26
9.09
8.84
7.61
6.39
8.93
11.49
8.85
9.33
8.24
11.18
8.40
6.39
7.76
11.04
11.68
8.59
8.33
9.16
8.91
7.70
6.41
9.03
11.54
8.90
9.40
8.31
11.24
8.44
6.49
7.79
11.02
11.82
8.56
8.31
9.13
8.89
7.61
6.41
9.04
11.42
8.85
9.34
8.34
11.30
8.48
6.50
7.81
11.06
11.66
8.61
8.36
9.17
8.92
7.63
6.44
9.04
11.49
8.90
9.36
8.38
11.35
8.57
6.56
7.54
7.31
7.74
9.56
5.76
5.13
8.99
8.56
9.68
12.29
7.49
5.22
10.13
6.16
7.94
5.42
6.62
6.79
7.57
7.34
7.79
9.72
5.76
5.15
9.03
8.59
9.71
12.32
7.45
5.24
10.07
6.16
7.93
5.43
6.59
6.77
7.65
7.43
7.90
10.05
5.79
5.18
9.11
8.59
9.81
12.50
7.52
5.32
10.14
6.18
7.97
5.44
6.64
6.81
7.66
7.43
7.92
9.93
5.79
5.16
9.14
8.61
9.83
12.52
7.56
5.32
10.17
6.20
8.03
5.47
6.77
6.85
7.70
7.46
7.90
10.35
5.79
5.18
9.28
8.66
9.95
12.53
7.64
5.36
10.20
6.20
8.01
5.47
6.71
6.84
7.77
7.53
7.88
10.42
5.81
5.17
9.41
8.74
10.02
12.42
7.65
5.30
10.29
6.21
8.07
5.48
6.78
6.87
7.74
7.48
7.85
9.53
5.82
5.18
9.45
8.79
10.03
12.42
7.64
5.33
10.43
6.22
8.11
5.48
6.87
6.90
7.84
7.56
7.91
9.57
5.86
5.20
9.63
8.90
10.20
12.62
7.76
5.41
10.46
6.26
8.14
5.52
6.90
6.99
7.81
7.55
7.88
9.50
5.87
5.19
9.54
8.87
10.24
12.57
7.72
5.39
10.48
6.30
8.17
5.54
6.97
7.05
7.88
7.62
8.00
10.16
5.92
5.22
9.60
8.91
10.28
12.69
7.79
5.41
10.59
6.32
8.18
5.58
7.01
7.08
6.03
5.26
'9.66
r
8.99
10.34
12.72
7.89
r
5.44
10.62
r
6.29
8.24
'5.56
r
7.01
7.12
8.97
10.35
13.15
'7.90
r
5.48
10.66
r
6.44
r
8.33
r
5.68
7.21
7.19
P
7.90
"11.34
"11.92
"8.75
"8.49
P
9.30
"9.04
"7.67
"6.50
P
9.11
P
11.53
P
9.06
P
9.39
P
8.53
P
11.51
P
8.76
"6.72
"8.01
P
7.76
P
8.10
"10.43
P
6.09
P
5.30
P
9.70
P
9.00
P
10.40
P
13.15
P
7.93
P
5.50
P
10.68
P
6.47
"8.34
P
5.70
P
7.17
P
7.15
7.25
10.05
10.80
7.99
9.70 5.93
6.31
641
7.52
10.65
11.52
8.38
10.09
6.09
6.56
6.71
7.53
10.62
11.34
8.34
10.13
6.10
6.62
6.72
7.54
10.62
11.39
8.37
10.15
6.12
6.59
6.72
7.59
10.65
11.43
8.44
10.18
6.16
6.64
6.80
7.65
10.66
11.54
8.48
10.24
6.20
6.77
6.85
7.67
10.82
11.51
8.52
10.30
6.22
6.71
6.90
7.71
10.91
11.56
8.56
10.30
6.23
6.78
6.96
7.74
10.93
11.58
8.57
10.40
6.26
6.87
7.00
7.72
11.04
11.56
8.56
10.37
6.25
6.90
7.01
7.77
11.02
11.71
8.56
10.43
6.32
6.97
7.04
7.79
11.07
11.61
8.61
10.51
6.34
7.01
7.04
'7.82
11.09
11.85
8.62
10.58
r
6.36
7.08
7.11
7.86
11.10
11.77
r
8.67
10.65
r
6.36
7.21
7.10
P
7.88
"11.34
P
11.94
"8.76
P
10.68
"6.41
P
7.17
"7.08
138.9
92.6
148.3
131.9
141.9
139.4
138.2
138.1
137.3
144.9
93.1
156.2
139.9
148.9
145.5
142.1
143.1
143.4
145.0
93.1
156.0
137.9
149.1
146.0
142.5
143.3
143.7
145.4
93.5
156.0
138.1
149.9
146.3
142.8
143.8
143.9
146.3
93.7
156.5
138.7
150.8
146.9
143.7
144.9
145.1
147.7
93.5
156.8
139.9
151.8
148.2
145.1
148.0
146.5
148.1
92.9
159.6
139.7
152.5
149.1
145.2
147.2
147.3
148.9
92.8
161.3
140.6
153.3
148.9
145,7
148.6
148.7
149.9
93.1
161.5
140.7
154.2
150.3
146.5
150.6
149.7
150.1
93.2
163.2
140.4
154.7
149.9
146.8
151.3
149.7
150.8
93.2
162.5
142.3
154.6
151.1
147.6
152.9
150.8
151.2
'93.4
163.3
141.0
155.3
152.3
148.1
152.7
150.9
152.1
r
94.1
163.2
143.8
155.6
153.4
148.6
153.6
152.4
152.7
94.7
164.5
143.4
156.5
154.4
148.9
156.6
152.2
P
12.92
1678
13.78
17.89
13.83
17.99
13.83
18.00
13.85
18.07
14.15
18.39
14.15
18.40
14.45
18.70
14.56
18.98
14.64
18.99
14.64
19.01
14.77
19.10
14.86
19.26
14.92
19.46
11.25
11.39
11.09
11.22
11.29
11.29
11.54
11.55
11.59
11.64
12.07
12.17
258.69
166.15
263.55
169.16
263.15
169.12
264.89
169.69
267.75
169.78
267.68
167.93
269.08
167.76
269.35
167.40
268.66
166.77
269.62
166.53
270.31 272.48 276.67
167.17 168.61 171.04
255.95
456.89
385.95
312.38
336.28
277.65
388.85
191.89
300.13
157.47
237.47
219.32
262.39
463.03
406.39
326.93
352.93
291.04
397.10
194.66
303.31
159.35
239.64
220.68
261.99
465.16
419.21
327.27
352.84
289.93
392.73
194.66
303.72
159.64
239.22
220.03
262.27
454.76
415.44
325.85
350.45
291.47
393.43
195.91
304.45
161.02
240.37
221.33
265.52
454.12
429.75
329.55
355.90
294.14
394.60
197.78
308.35
163.01
245.75
222.63
267.40
463.10
427.88
334.05
360.59
297.99
399.84
199.02
309.19
164.65
242.23
224.35
269.98
463.68
438.14
332.60
357.11
299.15
403.37
202.45
312.31
168.24
245.44
227.40
271.04
463.43
436.16
331.89
356.33
299.54
409.90
202,77
313.05
168.24
249.38
227.70
270.05
462.58
430.99
334.15
357.24
304.19
405.85
200.95
312.58
166.70
249.09
228.57
270.31
461.74
438.52
333.84
357.90
302.25
406.62
200.97
314.55
165.09
252.31
229.13
271.01 '274.48 '273.34 P270.18
P
460.10 r467.58 '476.43 462.67
'437.27 "421.97
420.93 437.92 r
338.37 344.99 341.43 P338.63
363.13 '370,12 '367.62 P364.56
306.53 311.24 '307.64 P305.18
413.01 r 415.24 '409.34 "405.84
200.34 203.80 '202.86 "199.92
314.93 318.89 '319.04 "316.09
165.73 170.14 166.42 "164.16
253.76 r254.46 '263.89 "259.55
230.10 r232.82 234.39 "231.66
106
103
96
88
87
85
83
78
73
76
do
10.64
Avg. weekly earnings per worker,
private nonfarm: fl
Current dollars, seasonally adjusted
..,
1977 dollars, seasonally adjusted $
Spendable earnings (worker with _ 3 dependents):
•
254.74
170.13
ft
]
H
(
r 0f ' la
D
1977 doDars, 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
doServices
do...
r
7.90
11.21
11.85
'8.71
r
8.47
'9.26
r
9.02
r
7.70
'6.51
r
9.08
11.57
r
8.99
'9.39
8.47
11.41
r
8.75
'6.73
7.25
10.05
10.80
7.99
7.72
8.53
8.25
7.00
5.91
8.27
10.81
8.20
8.81
7.62
10.39
7.43
5.96
7.18
693
7.43
8.88
5.52
4.96
8.60
8.18
9.12
11.38
7 16
4.99
9.70
593
7.57
5.25
6.31
641
11.51
7.82
11.08
11,90
'8.69
r
8.42
r
9.23
r
8.97
r
7.59
r
6.47
'9.08
11.49
'8.97
r
9.41
'8.45
11,44
r
8.66
r
6.66
r
r
r
8.06
r
9.63
r
r
8.06
r
9.87
r
6.08
r
5.31
r
9.66
r
7.96
7.70
7.97
'7.73
See footnotes at end of tables.
1967 — 100
168.47
o)
255.20
439.19
398.52
318.00
342.91
280.74
382.18
190.95
294.08
158.03
229.05
208.97
119
145.2
"157.1
P
155.0
"149.2
P
154.6
151.3
(i)
220 57
147.05
HELP- WANTED ADVERTISING
Seasonally adjusted index
152.9
P
95.0
P
165.8
P
86
78
83
83
S-13
SURVEY OF CURRENT BUSINESS
March 1983
Unless otherwise stated in footnotes below, data
through 1978 and descriptive notes are as shown
in the 1979 edition of BUSINESS STATISTICS
1981
1983
1982
1982
Jan.
Annual
Mar.
Feb.
Apr.
May
June
July
Aug.
Nov.
Oct.
Sept.
Jan.
Dec.
Feb.
LABOR FORCE, EMPLOYMENT, AND EARNINGS—Continued
WORK STOPPAGES H
Work stoppages involving 1,000 or more workers:
Number of stoppages:
Beginning in month or year ...,,...,,
number..
Workers involved in stoppages:
Beginning in month or year
thous..
Days idle during month or year
do....
145
90
2
2
3
9
14
17
11
14
14
3
1
0
1
4
729
16,908
646
8,962
6
200
3
237
8
352
36
480
44
636
41
894
36
831
'40
r
757
390
'2,091
40
r
912
2
806
0
764
1
795
13
838
4,590
4,681
4,723
4,892
4760
4387
4,328
4,495
4398
4,282
4,391
4635
30298
4^057
3328
4,470
2272
4,376
2418
4^282
2 347
4,067
1 989
3,729
2 399
3,707
2 658
3^912
2 358
3,831
2 342
3,712
2443
3,828
2661
4^156
UNEMPLOYMENT INSURANCE
Unemployment insurance programs:
Insured unemployment, all programs, average
weekly # @
thous..
3,410
State programs (excl. extended duration prov.):
2
Initial claims .... ..
thous
23939
Insured unemployment, avg. weekly
do....
3,048
Percent of covered employment: @ @
Unadjusted
,
,
,
3.5
Seasonally adjusted
Beneficiaries, average weekly
thous... 2 22,614
Benefits paid @ ... ...
mil $ 13 257 8
Federal employees, insured unemployment,
average weekly
, ....,
thous..
32
Veterans' program (UCX):
Initial claims
do....
193
Insured unemployment, avg. weekly..
do....
'41
Beneficiaries, average weekly
do....
41
Benefits paid
mil $
22807
Railroad program:
Applications....
thous..
184
Insured unemployment, avg. weekly
do....
40
Benefits paid
mil. $..
210.8
P
5459
5078
P
P
3 143
4,923
3 080
r
4,581
45
46
43
43
44
42
44
47
52
50
46
46
47
45
47
53
53
50
3,257
3,672
3,332
3,331
3,282
3,413
3306
3446 P3886
1 8499 1 573 4 1 692 2 1 682 1 1 746 2 1 7106 1 646 6 1 818 2 P2 135 3
46
50
49
51
43
41
40
3,558
3,801
3,908
3,944
21 473 1 17642 1 781 8 20726
32
40
40
38
33
29
28
29
27
136
11
9
55 3
g
16
15
7i
8
13
12
53
10
11
10
51
9
10
8
40
8
9
7
34
10
8
7
33
10
7
6
28
11
• 7
5
28
244
62
338.7
22
73
30.5
11
67
28.0
9
65
33.9
5
52
26.3
5
43
19.1
36
41
18.6
r
20
59
27.0
70
54
18.0
26
p
ll
8
6
29
14
65
31.1
28
31
10
9
P
7
34
17
14
8
40
20
17
73
31.6
78
35.1
P
56
45
4060
2 077 7
33
35
24
26
'20
ll 2
21
37
29
15 3
17
81
39.5
20
95
44.5
r
r
FINANCE
BANKING
Open market paper outstanding, end of period:
Bankers' acceptances
mil. $.
Commercial and financial co. paper, total
doFinancial companies
,
..
... do
Dealer placed
do...
Directly placed
... , ......
. .. do
Nonfinancial companies
do...
Agricultural loans and discounts outstanding of
agencies supervised by the Farm Credit Adm.:
Total, end of period,....,
mil $
Farm mortgage loans:
Federal land banks
,,.. .,.,
do
Loans to cooperatives
,.,....
do....
Other loans and discounts
do.,..
Federal Reserve banks, condition, end of period:
Assets, total #
mil $
69,226
161,114
111 908
30,357
81551
49206
70,088 70,468 71,619 71,128 71,601 71,765 72,559 72,709 73,818 75,811 77,125
162,387 167,271 167,460 166,373 172,540 176,937 180,015 180,878 174,094 171,627 170,365 166,941 162,387 167 252
118 206 112 112 110 656 109 657 113 786 117 918 121 083 122 885 117 202 115 216 115 530 115 650 118 206 120 039
34818 30666 30974 31 844 32723 34 336 35 446 36 983 36657 35 584 35 893 36 147 34 818 36 631
83388 81 446 79682 77 813 81 063 83582 85 637 85 902 80 545 79632 79 637 79 503 83 388 83 408
44 181 55159 56804 56716 58 754 59019 58932 57993 56 892 56 411 54835 51 291 44 181 47 213
'78,206
80 408
78387
79035
79758
80 695
80972
81 415
81 659
81 564
81 566
81 352
80 766
80 408
80 202
46,463
9,124
22,619
50375
8,423
21,609
46899
9498
21,990
47324
9760
21,951
47966
48 425
9758
22512
48 838
9260
22874
49289
8 670
23 456
49 582
8 355
23722
49 845
8 034
23685
50006
8*078
23 464
50 160
8 288
22904
50292
8*477
21 998
50 375
8 423
21 609
50 364
8 882
20 955
9581
22,211
176 778
190 128 179941 170 321 172 249 182 959 173 574 173 810 177 673 180 258 180 647 186 454 187 494 1 Qfl 1 0R 1 7fi 494 1 fiq 117
143,906
1601
130,954
11 151
153,769 141,871 138,575 139,700 148,335 141,249 140,244 143,812 144,502 146,838 142,629 149,394 153,769 142,656 142,975
717
2646
1 180
2217
1 799 1 058 1 638
458
438
449
1 123
717
374
354
1 155
139,312 128,230 125,410 125,589 134,257 129,407 127,005 132,640 132,858 134,393 132,080 137,676 139,312 132,368 135,561
11 148 11 151 11 150 11 150 11 149 11 149 11 149 11 149 11 148 11 148 11 148 11 148 11 148 11 144 1 1 13Q
do
176 778
190 128 179 941 3 70 321 172 249 182 959 173 574 173 810 177 673 180 258 180 647 186 454 187 494 190 128 176 424 i oq 117
do
do...,
do....
30816
25,228
131,906
34 334 39324 29630 30073 38 357 26 834 25 325 29 893 29 076 32 095 36 638 29 884 34 334 26 275 9Q 1 fiO
26,489 25,066 24,964 26,357 24,702 23,463 20,198 24,974 24,993 20,318 24,678 26,533 26,489 22,683 22,468
141,990 126,835 126,869 128,855 130,189 132,619 134,228 134,115 135,374 135,197 136,048 139,989 141,990 137,667 139,060
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
Ml 918
141 606
X
312
'642
1
277
X
41 853
141 353
1500
*697
1
«164
Large commercial banks reporting to Federal Reserve System, Wed. nearest end of yr. or mo.:
Deposits:
Demand, adjusted §
„...,
,
mil. $..
108,595
109,585
Demand, total #
,
do
Individuals, partnerships, and corp
do....
State and local governments
,. do....
U.S. Government . .. ...... ..
. . . . do
Domestic commercial banks
,....,„,. do....
187 518
140,376
5,235
2148
21,896
Time, total #
,
..... do
Individuals, partnerships, and corp.:
Savings
,
..„......,,. do
Other time
....
....
do
362 502
189 652 170 630 169 273 '172 922 '157 817 '179 348 '178 400 '158 754 '182 441 '164 559 187 996 190 848 '189 652 1 7^3 ^93 1 S9 £QQ
139,364 127,407 125,658 131,914 120,374 133,664 133^059 120,177 136,241 124,088 139,931 143,159 '139,364 131,271 136,570
5,487
4,492
'5,135 '4,633 '4,514 '5,706 '4,586 '4,843 '4,488
'5,270
5,391
5,238
5,487
5,722
5,533
1 7/17
1 n£4
1 91 Q
9 f?ftfl
1 767 '3538
1 148 '2 327
3 331 1 113 2958
1 575
'899
1 874 3 014
23,613 19,263 19,762 19,693 16,142 '23,720 '20,459 17,299 20,735 17,939 22,492 23,374 23,613
19,964 20,790
r
406 773 '367 193 370 510 '372 466 '373 295 '380 789 '384 708 '392 964 '401 138 '401 322 '403 346 '400 640 dflfi 77^1 41fi 77q 41 K Q9Q
76,971
250 511
110 640 ?79 293 79 314 '80 452 '78 782 '80 675 '79 522 '78 780 '80 857 '79 876 '85 214
258 127 '252 410 '253 938 '255 796 r257 446 '262 910 '269 310 '276 169 '280 507 '281 554 '278 990
Reserve bank credit outstanding, total # .. do....
Time loans
do...
U.S. Government securities ,
do....
Gold certificate account
do
Liabilities, total #
..
Deposits, total.............
Member-bank reserve balances
Federal Reserve notes in circulation
Loans (adjusted), total §,
Commercial and industrial
For purchasing or carrying securities
To nonbank financial institutions
Other loans
Investments, total
U.S. Government securities, total
Investment account *
Other securities
See footnotes at end of tables.
.
.
do....
do....
do....
do....
43 210
42 785
425
1,526
1 026
r
99,598
39230 39558
38 873 39 284
357
274
1,581
1,611
1,713
1 282 1 080 1 140
41 280
40981
299
39552
39 192
360
1,105
-508
39567
39 257
310
1,205
-656
40 177
39 866
311
510
-80
39 963
39 579
384
976
—490
40 587
40 183
*404
455
35
41 199
41 853
Af\ 7Q7
41 3^
402
579
130
500
697
164
41 Rfi9
«"41 31 R
rKAfi
qq 7fjf;
'500
561
r
r7Q
OQ q77
qOQ
1 QQ
'95,763 101,111 '93,899 '95,162 102,251 '97,253 102,733 '96,774 104,673 107,467 109,585 103,892 105,018
r
do
470,988
195,499
10,756
26,729
124 444
146 367
505,603
216,860
11,223
26,926
132 336
155314
do
do....
do....
do....
116 905
36,819
30,872
80.086
125 863 118 509 117 601 '117 995 '115 561 '117 335 '115 205
44,586 38,090 38,374 '38,568 '36,882 '36,821 '36,941
36,730 30,785 30,747 '30,347 '29,431 '29,054 '29,088
81.277 '80.419 '79.227 r79.427 r78.679 rflO 514 *7fl 2fi4
'470,212
198,052
8,675
'26,787
126 126
'144 900
39864
39 573
291
669
153
'472,077
198,918
'9,162
'26,786
'126 810
'144 280
'476,386
'202,806
'7,781
'27,992
'127 272
'140 326
479,074
'204,727
'7,483
'28,114
'128 364
'138 466
'485,664
'209,013
9,056
'27,725
'128 931
'143 459
'490,410
'212,198
'8,685
'27,655
'129 614
'144 084
'487,857
'210,394
9,421
'27,389
'129 964
'143 136
'495,076
'212,637
10,257
'28,134
'130 883
'151 432
'499,214
'217,148
10,495
'27,036
'131 702
r
14ft 4*^Q ri KA KQ7
85 764 '110 640
97K 9R9
'503,395
'216,892
11,627
27,017
'131 954
ri Ko'l7Q
roKa'io7
1 4.7 749 1 ^Q 1 ^fi
900 f\AR
991 QK7
'505,603 507,196 507,802
'216,860 218,565 218,288
11,223
9,758 11,151
'26,926 26,361 26,561
ri 39 qqe
ri KK q~M
1 19 Q9A 1 ^4 1 fil
1 *\*\ £4q 1 err Afjf-
MOO 077 ri 99 O1Q ri f)K oeq
• j q i QQ7
42,270 44,152 44,586
33,043 34,740 36,730
r?« fififi ran nn? r7« f)«7 i-ftl 077
48,816
38,677
'115 192 115 619 M 1C ACiA
'37,542 '36,996 '37,798
'28,841 '30,044 30,695
*77 fi.W r?« R9.Z
'503,444
'216,754
12,207
27,312
'131 706
T
R3O91
49,391
40,047
«1 Q9*
S-14
SURVEY OF CURRENT BUSINESS
Unless otherwise stated in footnotes below, data
through 1978 and descriptive notes are as shown
in the 1979 edition of BUSINESS STATISTICS
1981
1982
Annual
March 1983
1983
1982
Jan.
Feb.
Mar.
Apr.
May
June
July
Nov.
Aug.
Sept.
Oct.
1,383.1
117.8
237.1
1,028.3
1,389.4
118.2
237.6
1,033.5
1,397.5 1,398.5 1,412.1
126.4
130.9
122.3
237.2
235.8 r239.1
1,038.1 1,036.4 1,042.0
Dec.
Jan.
Feb.
FINANCE—Continued
BANKING— Continued
Commercial bank credit, seas, adj.:
Total loans and securities
fl
U S Treasury securities
Other securities
..
.
Total loans and leases
fi
Money and interest rates:
Discount rate (N.Y.F.R. Bank) @@
bil. $..
do
do
do....
1,316.3
111.0
231.4
973.9
13.41
14.20
percent..
Federal intermediate credit bank loans
2
13.56
1,428.2 1,436.1
139.8
144.5
243.3
243.1
1,045.1 1,048.4
8.50
12.00
14.63
12.00
14.45
12.00
14.11
12.00
14.14
12.00
13.93
12.00
13.73
11.81
13.63
10.68
13.43
10.00
13.21
9.68
12.90
9.35
12.48
8.73
12.14
8.50
11.58
•11.11
14.44
15.22
14.93
15.07
15.13
15.39
15.11
15.57
14.74
15.01
15.01
14.96
15.05
15.03
14.34
14.71
13.86
14.37
13.26
13.74
13.09
13.44
13.00
13.04
12.62
12.88
4
15.32
3
14.76
3
3
11.89
3
11.89
3
11.20
13.06
13.35
12.56
14.47
14.27
13.58
13.73
13.47
12.89
13.95
13.64
13.09
13.29
13.02
12.61
14.00
13.79
12.69
12.90
13.00
12.15
10.34
10.80
9.93
10.40
10.86
9.63
9.24
9.21
8.60
8.76
8.72
8.42
8.54
8.50
8.20
8.19
8.15
7.97
8.36
8.39
8.26
10.686
12.412
13.780
12.493
12.821
12.148
12.108
11.914
9.006
8.196
7.750
8.042
8.013
7.810
8.130
340,161
330,162
22,574
25,814
22,758
25,460
27,986
28,289
28,449
27,217
28,389
27,413
31,098
28,586
27,415
26,792
29,608
28,272
28,988
26,848
27,680
28,650
30,905
28,889
34,311
27,932 .
26,888
27,150
27,462
28,684
29,197
29,737
27,514
27,579
28,268
28,062
31,610
30,462
do
do
11,775
4,433
3,326
4,385
12,431
4,857
2,695
4,254
12,519
5,002
2,631
4,536
12,790
5,343
3,010
4,618
12,765
6,135
2,902
4,449
13,460
5,700
2,887
4,762
12,485
4,607
2,711
4,785
12,499
4,685
2,904
4,396
12,750
4,894
3,092
4,684
13,322
4,427
2,897
4,431
14,616
6,231
3,438
4,383
13,992
5,752
3,315
4,518
7,474
11,070
434
7,283
11,730
364
7,183
12,143
411
7,871
12,416
544
8,429
12,528
478
8,182
13,361
459
7,332
12,551
441
7,112
12,497
581
7,546
12,464
452
7,970
12,340
476
do
26,445
27,075
26,472
27,509
27,798
28,388
26,944
27,513
27,176
28,386
10,329
12,489
484
29,087
9,618
12,336
455
28,270
Ho
H
do
11,765
5,030
2,637
4,358
12,602
4,550
2,830
4,378
12,353
4,329
2,753
4,365
12,694
4,799
2,878
4,437
12,778
5,009
2,941
4,381
13,560
4,826
2,849
4,458
12,551
4,412
2,780
4,488
12,751
4,827
2,725
4,505
12,269
4,779
2,746
4,624
13,371
4,820
2,929
4,519
13,712
5,098
3,020
4,481
12,893
4,907
3,146
4,553
do
do
7,595
11,266
460
7,339
11,885
408
7,211
11,836
396
7,638
11,917
493
7,470
11,991
408
7,527
12,854
392
7,271
11,939
378
7,514
12,354
440
7,041
12,254
442
8,048
12,232
480
8,513
12,382
444
8,315
11,804
523
14.51
14.78
13.73
3
14.077
336,341
316,447
3
.
By major credit type:
•
JQ
, **
J
Liouidated total 4£
By major holder:
F*
'
C *•}>
Retailers
By major credit type:
"R
1 '
M h'l h
do....
343,372 330,135 327,435 327,131 328,363 329,338 331,851 332,471 333,808 335,948 334,871 336,991 343,372
149,300
89,818
45,954
29,551
150,643 148,162 146,922 146,454 146,616 146,147 146,775 146,745 147,275 148,280 147,926 148,270 150,643
94,322 88,925 89,009 89,591 90,674 91,958 93,009 93,353 93,207 93,357 92,541 93,462 94,322
47,253 45,907 45,586 45,632 45,450 45,472 45,882 45,698 46,154 46,846 46,645 46,832 47,253
30,202 28,179 27,013 26,530 26,537 26,536 26,645 26,710 26,751 26,829 27,046 27,639 30,202
do
•
333,375
Jo
do
Total outstanding, end of year or month #
By major holder:
L/pmmerc
...
.
C H'f"R t '1
1,368.8 1,376.1
115.8
116.5
235.9
235.9
1,017.1 1,023.7
14.67
15.37
mil $
C H't
'
Retailers
1
1,362.0
116.3
234.9
1,010.8
do
Total extended and liquidated:
Unadjusted:
Extended
T>
1,342.5 1,352.5
116.6
114.4
234.0
233.1
995.0 1,002.0
2
14.49
2
Yield on U.S. Government securities (taxable):
3-month bills (rate on new issue)
percent..
CONSUMER INSTALLMENT CREDIT
,.. T_~,-,
1,320.0 1,332.4
115.1
114.1
231.5
232.0
985.2
974.5
r2
14.13
r2
Open market rates, New York City:
Bankers' acceptances, 90 days
do....
Commercial paper 6-month $
do....
Finance co. paper placed directly, 6-mo @ do....
Seasonally adjusted:
Extended total $
By major holder:
upmm r
11.02
2
do....
Home mortgage rates (conventional 1st
mortgages):
New home purchase (US avg)...
percent
Existing home purchase (U.S. avg.).......
do....
1,412.1
130.9
239.1
1,042.0
126,431
63,049
18,486
130,504 125,525 125,294 125,559 126,201 127,220 128,415 128,359 128,281 129,085 128,619 129,594 130,504
66,273 61,433 59,514 58,491 58,641 58,647 59,302 59,824 60,475 60,932 60,811 61,500 66,273
18,768 18,397 18,343 18,363 18,402 18,479 18,543 18,601 18,741 18,778 18,814 18,821 18,768
By major credit type:
/lutomoD
M 1V1 h
FEDERAL GOVERNMENT FINANCE
Budget receipts and outlays:
Receipts (net)
Outlays (net)
Budget surplus or deficit (—)
Budget financing, total
mil. $.. '599,272 '617,766 55,269 43,042 45,291 75,777 36,753 66,353 44,675 44,924 59,694 40,539 42,007
do.... '657,204 '728,424 45,930 57,822 63,546 66,073 55,683 59,629 64,506 59,628 61,403 66,708 66,166
1,708 26,16£ -24,158
9,704 -18,930
6,724 -19,831 -14,704
9,339 -14,780 -18,255
do.... '-57,932 '-110,658
5
8
4,575 26,462 24,845
57,932 127,989 -8,109 14,993 18,773 -8,711 21,424 -4,457 20,962 16,751
do....
6,228 25,923
2,527
3,187
3,260 14,348 21,086 22,129
9,783 10,693 12,305
'79,329 '134,912
4,300
6,468 -11,238 18,237 -7,717
6,614 -4,335 -17,554 20,234 -1,078
'-6,923 -17,892
do... '-21,397
do... '1,003,941 '1,146,987 1,043,817 1,053,325 1,066,393 1,070,734 1,076,798 1,084,658 1,094,628 1,114,214 1,146,987 1,147,713 1,166,569
'794,434 '929,346 839,837 850,504 862,809 865,336 868,523 871,783 886,131 907,218 929,346 935,574 961,497
do
Reduction in cash balances
Gross amount of debt outstanding
Held bv the public
Budget receipts by source and outlays by agency:
Receipts (net), total
mil. $. '599,272 '617,766 55,269
Individual income taxes (net)
do... '285,917 '298,111 • 32,646
'49,207
2,473
'61,137
Social insurance taxes and contributions
(net)
mil. $. '182,720 '201,131 14,575
5,574
^9,499 '69,317
Other
do...
'657 204 '728,424 45,930
Outlays total $
do
J
4,573
'36,213
26,030
Agriculture Department
,
do...
Defense Department, military
do... '156,035 '182,850 13,783
Health and Human Services
7,319
Department §
mil. $. '230,304 '251,268
7,935
'92,633 '110,521
X
443
'6,026
5,421
National Aeronautics and Space Adm
do...
760
'23,937
'22,904
GOLD AND SILVER:
Gold:
Monetary stock, U.S. (end of period)
mil. $ 11,151
459.614
Price at New York $$
dol. per troy oz
Silver:
Price at New York i±
See footnotes at end of tables.
dol. per troy oz.
10.518
54,498 57,505
72,436 67,087
-17,938 -9,582
9,916
18,103
6,419
29,895
3,497
-11,792
1,201,898 1,205,899
991,392 997,811
43,042
21,007
1293
45,291
13,391
6,910
75,777
41,672
7,342
36,753
9,576
1,202
66,353
32,273
10,589
44,675
23,987
601
44,924
20,867
422
59,694
32,592
6,146
40,539
20,832
-461
42,007
22,452
-680
54,498
24,946
8,164
57,505
34,151
1,164
15,109
5,633
57,822
2,984
14,239
18,752
6,238
21,593
5,170
17,572
5,918
14,874
66,073
2,484
16,013
59,629
1,526
16,041
64,506
2,668
16,329
17,961
5,674
59,628
2,184
15,011
15,608
5,348
61,403
3,026
16,447
15,157
5,010
63,546
4,394
16,042
20,483
5,493
55,683
1,362
14,826
66,708
4,107
15,896
14,902
5,332
66,166
5,374
16,461
15,776
5,613
72,436
7,499
17,615
17,071
5,119
67,087
5,836
15,901
20,679
8 164
493
1,908
21,628
7,598
524
2,269
21,898
9 641
464
3,236
19,883
8,286
486
751
21,087
14,090
497
1,923
22,499
8643
435
3,097
21,168
9,235
491
994
21,424
7 179
467
1,924
22,200
9,149
482
1,942
22,817
9,076
632
2,066
23,440
14 327
524
3,200
22,197
9,248
468
834
c oi A
11,148 11,151 11,150 11,150 11,149 11,149 11,149 11,149 11,148 11,148 11,148 11,148 11,148 11,144 11,139
376.010 384.125 374.071 330.248 350.488 334.403 314.982 340.102 365.952 435.564 421.755 414.993 445.431 479.893 490.408
7.947
8.030
8.268
7.213
7.311
6.674
5.578
6.497
7.136
8.725
9.458
9.892
10.586
12.396
13.964
S-15
SURVEY OF CURRENT BUSINESS
March 1983
1981
Unless otherwise stated in footnotes below, data
through 1978 and descriptive notes are as shown
in the 1979 edition of BUSINESS STATISTICS
1982
Jan.
Annual
1983
1982
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
FINANCE—Continued
MONETARY STATISTICS
Currency in circulation (end of period)
bil. $.
Money stock measures and components (averages
of daily figures): t
Measures (not seasonally adjusted): $
Ml
.bil. $
M2
do
M3
do
L (M3 plus other liquid assets)
doComponents (not seasonally adjusted):
Currency
do.
Demand deposits
do
Other checkable deposits
ft
do
Overnight RP's and Eurodollars *
do...
Money market mutual funds
do...
Savings deposits
do..
Small time deposits @
do
Large time deposits @
do.
Measures (seasonally adjusted): $
Ml
do...
M2
do.
M3
do...
L (M3 plus other liquid assets)
do...
Components (seasonally adjusted):
Currency
."
Demand deposits
Savings deposits
Small time deposits @
Large time deposits @
140.5
do....
140.5
142.6
144.0
146.5
148.2
148.1
149.4
149.2
154.1
150.1
156.2
r
4300
4543
4580
4381
4409
4563
4508
445 8
4543
4543
461 0
470 6 r4790 r491 0 r489 6
480 2
1 716 6 1 878 2 1 817 7 1 8079 1 825 9 1 848 6 1 8487 1 8654 1 8830 1 8965 1 908 7 r 928 6r 943 61 964 4 r2 016 3 2 039 6
1
1
r
2 061 3 2 278 5 2 193 5 r 2 189 2 r 2 211 0 r 2 235 3 r 9 2^7 3 r 2 257 2 r 2 280 8 r 2 308 8 2 324 4 2 350 4 2 369 2 r2 385 4 r2 413 8 2 424 g
r
2,491.3
2,658.3 2,671.9 2,697.7 2,724.8 2,737 7 2,763 8 2,789.9 2 812.5 *2 825.7
1198
2403
656
r
33.0
r
!09.8
r
3615
r
7882
r
2871
r
1284
2349
903
41.1
172.4
3503
859 1
3265
1233
2443
825
39.7
154.7
3466
8287
3084
1230
2293
81 5
38.0
156.0
3446
837 3
3153
123 9
229 1
83 8
39.1
159.7
3463
845 8
318 9
1257
236 9
89 5
36.8
161.8
348 5
851 1
3190
127 2
2288
85 4
40.1
164.9
347 9
8559
3206
128 3
230 7
87 2
40.3
170.1
3486
861 4
3235
130 1
229 §
898
42.4
182.3
3468
876 6
332 9
1298
231 7
87 9
41.8
172.9
3486
871 6
3274
130 2
232 9
93 3
41.5
185.1
3482
879 0
334 9
131 3
237 6
97 3
43.9
187.6
357 8
r
875 3
339 1
1327
240 6
101 5
45.2
191.1
3633
r
871 6
340 8
1352
247 7
104 0
r
44.3
182.1
r
356 ]
rOK^ K
r
336 7
133 2
245 1
107 4
r
47.4
166.6
r
332 0
r
799 3
r
314 6
r
133 7
oq9 7
109 9
49.3
159.6
320 8
7KQ c
qnq r\
4478
4480
4486
449 3
4524
453 4
4544
4583
463 2 r468 7 r474 0 r478 2 r482 1
490 6
1 810 1 1 8158 1 828 9 1 8352 1 850 6 1 864 5 1 880 9 1 903 6 1 917 0 r1 929 71 945 01 959 4r9ftftftft 9ft/17ft
2 1818 r 2 191 6 r 22109 r 2224 1 r 22407 r 2 260 2 r 2 283 4 r 2 317 8 2 333 9 2 352 0 r2 370 2 r2 377 7 r2 401 9 2 428 1
2,644.4 2,668.1 2,692.7 2,710.3 2,737.5 2,767 0 2 798.1 2 824 3 r2 840 8
1240
2389
3477
8266
3044
1247
235 5
3469
833 1
3099
101,302
9,109
1,157
3,110
12,973
23,733
125 2
2338
3466
840 7
3158
127 4
233 1
3466
8525
322 1
126 3
2333
3459
847 2
321 2
18,999
2,120
78
418
2,900
128 2
2323
347 2
859 3
327 4
128 8
232 1
345 0
872 9
332 i
129 6
232 5
3467
879 8
3349
130 5
234 0
3500
883 2
336 1
2,124
3,507
786
2,657
1,781
820
2,454
1801
645
1
2,738
693
1072
3798
131 9
237 6
366 4
r
ft7d.-Q
340 4
132 8
9qq Q
358 7
134 2
1^ R
r9qo A
9qo 7
r
r
rQKQ ft
r7Qft 1
rqi 1 1
q91 Q
7Kfi 1
9Qft *3
r
334 0
332 4
720
18
3759
10418
131 3
236 0
358 0
r
878 0
339 6
r
425
1687
1 688
3,722
-209
15,762
do....
4,935
-167
82
25
20,028
2079
146
436
2764
4,146
205
44
-430
4,235
12,580
7,872
Primary nonferrous metal
do....
Primary iron and steel
do....
Fabricated metal products (except ordnance,
machinery, and transport/equip.)
mil. $..
Machinery (except electrical)
do....
Elec. machinery, equip., and supplies
do....
Transportation equipment (except motor
vehicles, etc.)
mil. $..
Motor vehicles and equipment
do....
All other manufacturing industries
do....
Dividends paid (cash), all industries
156.2
do...
. ... do.
do...,
do.
do....
PROFITS AND DIVIDENDS (QTRLY.)
Manufacturing corps. (Fed. Trade Comm.):
Net profit after taxes, all industries
mil. $..
Food and kindred products
do....
Textile mill products
do....
Paper and allied products
do....
Chemicals and allied products
do....
Petroleum and coal products
145.6
10 076
40,317
10,160
17828
2031
258
408
2451
5,024
329
-41
-893
SECURITIES ISSUED
Securities and Exchange Commission:
Estimated gross proceeds, total
By type of security:
Bonds and notes, corporate
Common stock
Preferred stock
By type of issuer:
Corporate, total #
Manufacturing
Extractive (mining)
mil. $..
r
84,668
r
r
'7,184
r
r
5,992
r
6,189
r
6,637
r
9,987
r
45,606
54,837
r
r
r
r
r
r
r
r
r
25,108
1,788
23,785
5,114
72,509
17,397
r
9,122
6,160
!7,196
83,737
16,559
7,985
18,935
2,329
4,548
26,330
46,134
34443
75,876
do....
do....
do....
mil. $..
do....
do....
r
3,293
l,616
5,974
4,197
1,477
199
r
1430
198
r
5,263
1750
198
4,720
2,673
3,494
1 875 1 482
172
887
r
7 184 r 4720
r
1 181 r600
r
926
643
r
2,546
1,684
r
255
45
87
20
1,734
1,457
3,458
7,793 10,319
r
2 565
67
4,244
7,370
5,481
7,662
1 499 1 892 1 690 1 945
644
622
522
611
5864
r
772
r
364
1,792
108
r
464
1,669
6090
r
669
1,820
1,003
134
192
1,966
6388 r9884
1 845 r2 375
668
464
909 1,767
r
33
464
r
179
699
r
2,314 r2,927
r
r
r
r
r
7 693 10 219
1 626 r3r 076
r
761
349
r
2,023 r2,065
r
149
534
r
r
315
359
r
2,358 r3,045
r
9207
r
" 5,331
3 455
421
7,373
4,074
r
2 725
573
r7 372
1*274
r
520
1,419
r
321
129
2,811
3,292
727
724
962
68
66
r
516
5,825
r
552
r
492
1,108
76
366
r
3,025
74877
42915
3780
2525
3459
2 708
5 531
2 950
6 692
3 109
5 268
5 919
5 667
4 848
5 822
3 302
6 635
4 7gg
6 381
3 146
7 959
q'qK7
9 505
q'qoc
14411
13325
13 441
13023
12095
12202
11 729
11 396
11 208
1 1 79ft
1 9 A.HQ
5735
8390
3455
6 575
3755
6 595
3895
6 510
4 145
6 270
12 237
4 175
6 355
11 783
3,515
7 150
4 215
6 345
4 410
6 730
4 470
7 550
4 990
C CAfl
ft OQE
c 7qe
R 9KK
7 47^
E KOf)
Q -1 9fk
Bonds
Prices:
Standard & Poor's Corporation:
High grade corporate:
Composite §
dol per $100 bond
33 7
Domestic municipal (15 bonds)
do....
43.2
Sales:
New York Stock Exchange, exclusive of some
stopped sales, face value, total....
mil. $.. 5,733.07
See footnotes at end of tables.
35 8
41.8
30 9
35.8
31 1
. 37.0
32 9
37.3
33 3
38.2
qo i
38.3
00 Q
OK 7
39.9
39.4
43.2
45.6
49.7
48.7
49.0
42.5
51.6
41.3
7,155.44
410.47
388.34
512.80
509.13
510.05
499.02
463.04
724.38
699.80
875.39
770.43
792.60
787.72
689.61
Transportation
Communication
Financial and real estate
State and municipal issues (Bond Buyer):
Long-term
Short-term
do....
do....
do....
do....
do...
SECURITY MARKETS
Stock Market Customer Financing
Margin credit at brokers, end of year
or month
mil. $..
Free credit balances at brokers:
Margin accounts
do....
Cash accounts .'.
do.. .
r
2,776
r
r
<3A f)
9 207
1 ftfi9
254
1,657
142
1 672
2,508
ft 17ft
9
QQfl
51.3
S-16
SURVEY OF CURRENT BUSINESS
Unless otherwise stated in footnotes below, data
through 1978 and descriptive notes are as shown
in the 1979 edition of BUSINESS STATISTICS
1981
1982
Annual
March 1983
1982
Feb.
Jan.
Mar.
Apr.
May
June
1983
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
FINANCE—Continued
Bonds—Continued
Yields:
Domestic corporate (Moody 's)
By rating:
Aaa
Aa
..
A
Baa
percent..
16.05
16.13
15.68
15.53
15.34
15.77
15.70
15.06
14.34
13.54
13.08
13.02
12.90
13.02
13.79
14.41
15.43
16.11
15.18
15.75
16.19
17.10
15.27
15.72
16.35
17.18
14.58
15.21
16.12
16.82
14.46
14.90
15.95
16.78
14.26
14.77
15.70
16.64
14.81
15.26
16.07
16.92
14.61
15.21
16.20
16.80
13.71
14.48
15.70
16.32
12.94
13.72
15.07
15.63
12.12
12.97
14.34
14.73
11.68
12.51
13.81
14.30
11.83
12.44
13.66
14.14
11.79
12.35
13.53
13.94
12.01
12.58
13.52
13.95
14.50
15.62
13.22
14.54
15.33
13.68
15.37
16.73
14.10
15.53
16.72
14.08
15.29
16.07
14.00
15.22
15.82
14.03
15.08
15.60
13.93
15.35
16.18
13.99
15.37
16.04
14.05
14.88
15.22
13.90
14.11
14.56
13.69
13.19
13.88
13.08
12.57
13.58
12.74
12.48
13.55
12.60
12.34
13.46
12.27
12.43
13.60
12.13
..do
do...:
11.56
11.23
12.87
11.56
11.57
12.23
13.15
13.16
13.73
12.70
12.81
13.63
13.13
12.72
12.98
11.97
12.45
12.84
12.13
11.99
12.67
12.58
12.42
13.32
11.97
12.11
12.97
10.74
11.12
12.15
10.48
10.61
11.48
10.05
9.59
10.51
10.23
9.97
10.18
9.56
9.91
10.33
9.74
9.45
10.37
9.04
9.55
10.60
364.61
932.92
108.58
398.56
U.S. Treasury bonds, taxable $
14.94
14.17
14.75
15.29
16.04
do
do....
do
By group:
Industrials
Public utilities
Railroads
Domestic municipal:
Bond Buyer (20 bonds)
..
Standard & Poor's Corp. (15 bonds)
15.06
do
do
do....
do
345.40
884.36
111.95
359.81
333.99
853.41
105.68
353.99
327.54
833.15
105.98
345.93
318.94
812.33
107.47
328.85
332.69
844.96
112.17
344.68
333.11
846.72
114.49
340.90
313.66
804.37
108.41
314.58
316.31
818.41
106.28
316.68
321.30
832.11
109.64
318.34
356.89
917.27
116.18
368.32
383.92 401.57 404.83 417.61 428.91
988.71 1,027.76 1,033.08 1,064.29 1,087.43
119.97 119.34 117.83 123.83 124.32
402.70 436.43 446.37 457.74 479.72
122.43
137.09
119.61
115.51
56.48
20.27
77.20
132.66
148.11
131.64
126.43
138.10
153.90
139.35
133.27
139.37
156.02
142.63
134.75
144.27
162.02
151.03
133.08
146.80
165.15
154.08
133.89
59.41
22.19
86.27
60.08
23.52
88.27
13.72
50.50
86.79
134.47
15.97
64.21
106.48
156.02
17.46
68.70
114.55
166.54
59.33
23.84
85.83
16.90
65.60
103.62
168.28
61.89
24.93
90.26
16.51
63.91
101.22
162.01
61.52
25.52
91.73
16.75
64.58
100.25
163.13
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)
Industrial, total (400 Stocks) #
Capital goods (111 Stocks)
Consumer goods (189 Stocks)
1941-43=10..
do..,.
,. do....
do....
128.04
144.24
139.03
100.67
119.71
133.57
119.98
109.37
117.28
131.08
121.78
95.43
114.50
127.56
120.53
97.32
110.84
122.85
112.43
97.00
116.31
129.19
117.32
102.91
116.35
129.68
115.84
103.81
109.70
122.61
105.97
100.92
109.38
122.49
106.34
102.66
109.65
122.29
106.34
102.46
Utilities (40 Stocks)
Transportation (20 Stocks)
Railroads (10 Stocks).....
do
1970—10
1941-43=10..
51.87
23.26
93.09
14.44
52.45
117.82
141.29
54.78
19.64
74.82
14.30
54.76
95.87
143.01
51.81
20.05
80.86
13.95
51.33
102.51
141.08
51.39
18.95
75.99
14.19
53.85
100.48
146.08
52.33
17.68
67.73
54.25
18.71
71.20
54.88
18.50
71.16
14.15
53.77
96.11
147.01
14.59
55.93
97.40
149.14
13.81
52.27
93.29
142.45
52.13
17.21
65.49
12.45
48.10
86.01
126.05
51.87
17.22
63.15
12.07
45.36
81.10
120.61
53.34
17.53
64.71
12.38
47.46
82.06
118.41
74.02
85.44
72.61
38.91
73.52
68.93
78.18
60.41
39.74
71.99
67.91
76.85
62.04
39.30
70.99
66.16
74.78
59.09
38.32
70.50
63.86
71.51
55.19
38.57
69.08
66.97
75.59
57.91
39.20
71.44
67.07
75.97
56.84
39.40
69.16
63.10
71.59
53.07
37.34
63.19
62.82
71.37
53.40
37.20
61.59
62.91
70.98
53.98
38.19
62.84
70.21
80.08
61.39
40.36
69.66
76.10
86.67
66.64
42.67
80.59
79.75
90.76
71.92
43.46
88.66
80.30
92.00
73.40
42.93
86.22
83.25
95.37
75.65
45.59
85.66
84.74
97.26
79.44
45.92
86.57
5.20
4.90
10.15
3.40
5.41
12.36
5.81
5.48
10.39
4.32
5.92
12.53
5.95
5.64
10.74
4.20
5.89
13.19
6.06
5.75
10.77
4.38
5.79
13.20
6.28
5.99
10.61
4.72
5.92
12.97
5.99
5.70
10.27
4.47
5.73
12.90
5.97
5.65
10.27
4.47
6.07
12.58
6.28
5.90
10.87
4.85
6.67
12.96
6.31
5.91
11.02
4.92
6.97
13.24
6.32
5.94
10.77
4.95
6.79
12.78
5.63
5.26
10.22
4.17
6.12
12.41
5.12
4.78
9.73
3.75
5.22
11.71
4.92
4.60
9.62
3.53
4.84
11.18
4.93
4.59
9.83
3.46
5.08
11.20
4.79
4.44
9.48
3.24
5.27
11.23
11.13
490,688
15,910
596,937
22,423
33,445
1,222
35,953
1,313
44,157
1,713
39,900
1,533
37,350
1,430
35,174
1,414
41,292
1,577
47,117
1,902
61,374
2,301
79,437
2,857
75,043
2,643
73,611
2,543
415,913
mil $
12,843
New York Stock Exchange:
Exclusive of odd-lot and stopped stock sales
11,854
(sales effected)
millions..
Shares listed, N. Y. Stock Exchange, end of period:
Market value, all listed shares
bil. $.. 1,143.79
38,298
Number of shares listed
millions..
514,263
18,211
28,301
987
30,268
1,071
38,232
1,411
33,714
1,242
31,913
1,167
30,420
1,169
35,580
1,304
40,659
1,555
52,551
1,890
67,157
2,292
63,837
2,126
61,446
1,988
16,458
968
972
1,270
1,136
1,027
1,111
1,145
1,673
1,548
2,069
1,857
1,682
1,858
1,615
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
do ...
Sales:
Total on all registered exchanges (SEC):
,-,,
* '
11
Ml-
On New York Stock Exchange:
Market value
1,305.36 1,115.82 1,053.75 1,036.85 1,081.87 1,039.18 1,017.45
39,516 38,408 38,572 38,588 38,738 38,594 38,894
993.56 1,106.56 1,120.26 1,244.38 1,291.94 1,305.36 1,349.19
39,064 39,070 39,177 39,262 39,400 39,516 39,688
FOREIGN TRADE OF THE UNITED STATES
VALUE OF EXPORTS
Exports (mdse.), incl. reexports, total @
Excl Dept of Defense shipments
By geographic regions:
A '
A
A
1
11,097.4
1
63,848.7
'6,435.8
1
69,714.7
10,271.1
64,822.2
5,699.7
63,664.2
'2, 159.4
'2,911.7
2,875.4
2,368.2
172.6
230.9
275.2
224.6
231.1
206.7
383.1
237.4
293.6
234.8
'5,297.5
do.... '21,823.0
4,600.7
20,966.1
391.2
1,785.8
370.5
1,705.6
490.6
1,862.2
402.4
1,574.8
411.0
1,710.2
850.6
972.4
5,172.3 5,194.8
461.4
442.6
5,545.1 5,605.7
do.... '39,565.8 33,723.6 2,463.8 2,593.5
1
24,368.7 18,332.1 1,703.4 1,665.1
1
A
17,732.1 15,256.5 1,318.6 1,163.0
do
t
aT
a
rl f)
n'
do
j
Northern North America
q
mil. $.. '233,739.0 212,274.6 17,515.3 17,637.3 20,160.9 18,610.6 19,000.7 19,416.1 17,259.3 16,264.5 16,716.7 17,274.5 15,695.0 16,723.9 16,204.9
.. do . '233,677.0 212,193.1 17,507.9 r17,635.5 20,151.7 18,605,2 18,992.4 19,413.3 17,252.2 16,249.9 16,712.6 17,267.0 15,689.2 16,716.4 16,200.6
18,583.6 !8,613.6 18,461.6 18,005.2 18,124.3 18,822.9 18,059.6 17,463,3 17,320.3 16,671.4 15,851.9 16,346.6 17,393.0
fU A
•
'
By leading countries:
Africa:
Egypt
Republic of South Africa
Asia; Australia and Oceania:
Japan
See footnotes at end of tables.
do
do....
693.7
681.9
936.3 1,038.0
967.1 1,001.7
5,752.2 5,215.9 5,545.1 5,786.2 5,793.3 5,186.8
495.4
470.0
495.9
662.3
471.6
597.9
6,328.8 5,753.1 5,711.4 5,639.7 4,743.1 4,562.0
3,346.8 3,066.1 3,189.7 2,943.2 2,667.7 2,634.8
1,791.3 1,758.6 1,730.8 1,837.9 1,514.5 1,328.1
1,376.6 1,258.2 1,323.2 1,437.0 1,334.4 1,336.0
601.3
892.9
5,109.7 5,746.2
362.7
360.5
4,892.6 5,095.6
2,838.1 3,089.2 2,512.5 2,378.3
1,573.0 1,224.7 1,043.4 1,161.1
1,278.5 1,235.6 1,125.3 1,070.1
915.0
720.1
4,947.1 5,372.4
445.8
433.6
4,857.0 4,930.1
177.8
191.9
191.7
182.7
191.4
174.7
280.0
162.3
145.4
133.4
264.0
146.2
386.3
491.1
1,828.8 1,776.3
351.9
1,732.2
380.4
1,568.4
337.0
1,804.1
307.7
1,814.6
280.6
1,803.1
269.4
242.7
S-17
SURVEY OF CURRENT BUSINESS
March 1983
Unless otherwise stated in footnotes below, data
through 1978 and descriptive notes are as shown
in the 1979 edition of BUSINESS STATISTICS
1981
1983
1982
1982
Annual
Jan.
Feb.
Mar.
Apr.
June
May
July
Sept.
Aug.
Oct.
Nov.
Dec.
Jan.
FOREIGN TRADE OF THE UNITED STATES—Continued
VALUE OF EXPORTS— Continued
Exports (mdse.), incl. reexports—Continued
Europe:
France
mil $
'7,340.5
German Democratic Republic (formerly
E. Germany)
mil. $.
'295.7
Federal Republic of Germany (formerly
W. Germany)
mil. $. x 10,276.7
Italy
do- '5,36o.o
Union of Soviet Socialist Republics
do... '2,431.3
United Kingdom
do... '12,439.2
North and South America:
Canada
do... '39,564.3
Latin American republics, total #
do... '38,950.1
Brazil
do
'3,798.2
Mexico
do... '17,788.7
Venezuela
do... '5,444.9
Exports of U.S. merchandise, total §
do... '228,960.8
Excluding military grant-aid
do... '228,898.7
Agricultural products, total
do... '43,338.5
Nonagricultural products, total
do- '185,622.6
By commodity groups and principal
commodities:
Food and live animals #
mil. $.. '30,290.8
Beverages and tobacco
do
'2,914.7
Crude materials, inedible, exc. fuels #
do... '20,992.4
Mineral fuels, lubricants, etc. #
mil. $. '10,279.0
Oils and fats, animal and vegetable
do.... '1,750.3
Chemicals
do.. , '21,187.1
Manufactured goods #
do.... '20,632.5
Machinery and transport equipment,
total
mil. $.. '95,717.2
Machinery, total #
do.... '62,945.5
Transport equipment, total
do.... '32,790.9
Motor vehicles and parts
do.... '16,214.0
VALUE OF IMPORTS
General imports, total
do.... '261,304.9
Seasonally adjusted
do.
By geographic regions:
Africa
Asia
Australia and Oceania
Europe
Northern North America
Southern North America
South America
By leading countries:
Africa:
Egypt
Republic of South Africa
Asia; Australia and Oceania:
Australia, including New Guinea
Japan
do.... '27,070.6
do.... '92,032.6
do.... '3,352.7
do.... '53,409.7
do.... '46,432.0
do.... '23,477.4
do.... '15,526.4
do....
do....
Venezuela
By commodity groups and principal
commodities:
Agricultural products, total
Nonagricultural products, total
Food and live animals #
Beverages and tobacco
Crude materials, inedible, exc. fuels #
Mineral fuels, lubricants, etc
Petroleum and products
Oils and fats, animal and vegetable
Chemicals
Manufactured goods #
Machinery and transport equipment
Machinery, total '#
Transport equipment
Automobiles and parts
See footnotes at end of tables.
401-010 0 - 83 - S3
563.5
728.8
592.9
603:8
665.3
516.4
601.5
572.1
666.1
515.4
49.9
26.6
43.7
9.3
22.0
22.0
5.5
0.8
1.9
16.9
10.1
14.1
9,291.3
4,616.1
2,587.3
10,644.7
822.5
789.6
969.6
804.7
821.6
764.9
723.0
703.6
654.9
678.6
8024
413.6
398.0
912.1
397.5
450.5
817.5
379.0
421.3
991.0
395.2
325.1
992.7
446.1
265.7
913.3
499.4
134.4
928.1
328.8
71.8
885.2
308.0
55.1
805.5
3494
77.1
935.6
386.5
80.0
833.1
755.9
344.1
160.6
838.1
3,065.8 3,189.5
2,699.6 2,782.8
274.9
319.1
1,173.1 1,201.1
415.0
440.6
18,208.3 18,589.3
18,202.8 18,581.0
3,481.8 3,403.4
14,726.5 15,185.9
2,667.5 2,634.5 2,837.9
2,588.5 2,387.7 2,562.2
361.2
318.1
306.0
1,005.4
795.2 1,042.6
494.0
460.8
402.5
16,870.3 15,943.9 15,980.7
16,863.2 15,929.3 15,976.6
2,446.0 2,492.4 2,388.1
14,424.3 13,451.5 13,592.5
3,089.1
2,118.6
236.3
633.2
449.2
16,886.7
16,879.2
2,887.4
13,999.3
2,512.3
1,844.7
201.7
504.9
402.6
15,319.1
15,313.3
3,049.7
12,269.4
2,377.8
2,924.3
334.3
1,202.6
501.8
18,980.3
18,977.5
3,129.1
15,851.2
16,290.1
16,282.6
2,887.5
13,402.5
33,720.2
2,463.5 2,593.5 3,346.2
30,086.3 2,757.4 2,537.2 2,926.9
3,422.7
306.2
260.4
289.8
11,816.9 1,187.8 1,123.9 1,307.2
364.4
5,206.2
380.9
501.7
207,157.6 17,129.0 17,274.6 19,685.4
207,076.2 17,121.6 17,272.8 19,676.2
36,622.6 3,254.7 3,499.9 3,702.5
170,535.0 13,874.3 13,774.7 15,982.9
23,950.4
3,026.2
19,248.4
12,728.8
1,540.9
2,942.7
561.0
368.6
1477
792.5
1,956.2
214.8
640.0
392.8
19,890.5
16,738.6
2,064.9 2,188.5
208.9
250.0
1,724.7 1,782.6
1,048.5 1,050.9
102.8
167.3
1,594.2 1,662.1
1,456.9 1,388.7
1,647.2
1,155.4
1,565.1
1,213.9
87,128.1
59,324.2
27,823.9
13,906.8
7,126.7 6,979.4 8,357.6 7,547.7 7,782.5 8,175.7 7,597.3 6,738.6 6,756.3 7,136.5 6,083.4 6,846.4
4,849.8 4,719.0 5,523.1 4,967.7 5,203.1 5,523.2 5,083.1 4,664.3 4,928.1 4,889.2 4,451.1 4,522.4
2,281.4 2,261.0 2,835.1 2,580.3 2,580.0 2,652.8 2,515.6 2,081.5 1,828.8 2,248.1 1,632.7 2,326.7
1,023.7 1,123.9 1,489.3 1,395.6 1,436.2 1,325.5 1,080.8 1,029.5 1,040.7 1,084.0
957.9
919.5
6,174.2
2
243,951.9
2,429.6 2,272.1 2,161.4 2,172.3
300.2
224.2
262.5
221.3
1,837.3 1,789.3 1,839.6 1,598.7
1,246.3 1,190.2 1,143.5 1,090.4
132.4
124.3
102.2
141.7
1,858.4 1,688.2 1,722.4 1,862.5
1,633.8 1,439.6 1,535.6 1,591.0
53,412.7
2
46,497.7
2
23,525.0
2
14,444.1
2
2,304.6
37,743.7
2
1,706.3 1,500.6
6,333.4 7,310.1
191.9
262.4
4,758.5 3,674.7 4,479.6
2
3,508.5 3,549.0 4,158.8
2
1,860.6 1,831.9 1,967.5
2
1,452.5
977.2 1,144.3
32.7
141.1
1,691.6
193.1
1,328.1
1,073.3
146.8
1,816.6
350.3
1,515.4
1,206.1
105.0
1,798.8
379.8
1,663.4
846.0
118.3
1,758.0
257.5
1,546.9
881.9
117.3
2,093.7
171.5
1,576.6
1,006.3
99.1
1,715.0
1,274.2
1,548.7
1,321.7
1,487.8
1,390.7
1,455.2
1,202.5
215.3
3,586.6
162.6
2,790.4
1,317.6 1,695.1 1,467.7 1,262.7
7,395.1 6,987.1 9,061.3 6,920.8
299.2
288.9
345.0
281.1
4,907.0 4,358.7 4,743.5 4,241.8
4,399.5 3,462.0 3,829.5 4,238.7
2,309.5 1,881.2 2,210.3 2,100.8
1,182.9 1,090.1 1,210.3 1,141.9
46.5
138.6
2
154.7
152.8
3,720.0 2,708.0
181.1
3,759.4
2
511.0
90.7
147.5
22.4
144.6
2.3
159.0
8.5
184.4
1,586.0 1,423.8 1,288.3
7,155.4 6,133.6 5,756.4
323.1
261.2
205.4
4,712.0 4,220.1 4,381.0
3,907.9 4,009.8 3,625.6
1,972.3 1,779.6 2,126.8
1,562.4 1,173.7 1,336.6
19.2
227.1
215.5
219.7
220.4
252.7
203.1
3,117.2 2,887.9 3,814.7 2,904.2 3,274.0
51.2
162.8
51.0
172.1
172.3
154.4
2,695.1 2,486.2
452.7
455.6
441.9
479.5
539.7
442.8
475.6
410.1
414.0
469.8
3.6
2
5.1
6.9
3.1
3.7
3.6
2.8
4.6
11.2
3.3
3.2
2.9
1,087.4
2
499.2
2
18.4
2
981.7
874.9
394.4
22.0
780.0
1,003.3
492.7
18.0
1,011.3
944.8
439.7
15.5
821.4
1,221.1 1,090.5
494.6
459.3
10.2
31.8
1,151.5 1,210.4
957.1
379.4
7.7
1,139.7
1,025.4
498.5
25.7
1,217.6
872.9
459.6
27.6
1,079.6
981.1
350.0
34.8
1,483.0
949.0
413.7
8.9
1,037.3
967.2
420.4
7.1
1,181.4
2
53.9
11,974.8
2
5,301.4
2
227.6
2
13,094.8
911.3
7,684.6
244.9
4,923.4
4,070.3
1,824.7
1,145.1
80.0
138.5
2
5,545.3
2
2
42.6
168.1
1,252.1
5,965.2
226.8
4,012.6
3,737.8
1,660.2
1,027.2
100.1
183.1
2
2
'47.7
1,874.2
211.6
1,272.0
954.9
125.6
18,264.6 20,823.4 17,882.1 20,804.5 21,810.9 19,763.2 22,867.8 20,187.8 21,219.3 19,002.0 18,720.2 20,149.0
21,939.8 19,231.4 r20,043.7 r!7,880.1 r21,034.3 r21,070.2 r20,380.1 r22,598.8 r20,655.1 '21,017.9 19,265.7 18,716.8 19,429.4
2
547.2
1,966.8
2
1,722.3
167.0
1,350.5
996.8
157.3
1,648.6
1,348.5
2
22,606.0
r2
2
17,770.1 22,358.5
2
85,169.5 28,466.5
2
3,130.5 2 2200.5
2
'5,851.4
'11,379.0
'5,189.0
'347.5
'12,834.6
523.4
222.8
'397.3
'2,445.3
mil. $.. '2,514.8
do.... '37,612.1
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....
Brazil
do....
7,110.4
2
452.7
'46,413.8 246,476.9 23,507.8 3,547.6 4,156.2 3,735.7 4,068.6 4,398.1 3,459.2 3,828.4 4,236.3 3,907.2 4,009.6 3,622.1
'32,023.3 232,512.6 22,759.9 2,376.0 2,678.5 2,222.5 2,624.6 3,011.3 2,550.6 2,884.1 2,776.3 3,061.0 2,604.6 2,963.1
'4,474.5 24,285.3 2335.4
314.4
369.8
312.1
343.7
313.2
346.8
391.9
374.8
427.5
315.4
440.1
'13,765.1 215,565.9 21,116.6 1,255.3 1,310.5 1,014.2 1,238.3 1,578.2 1,230.8 1,435.3 1,448.9 1,299.9 1,219.1 1,418.7
do.... '5,566.0 24,767.7 2602.2
312.4
355.2
350.2
293.0
399.2
387.0
281.4
361.9
504.0
392.3
528.9
mil. $.. '17,003.4 215,421.7 C21,263.0 cl,091.0 cl,403.9
do.... '244,301.4 2228,530.2 221,343.0 17,173.6 19,419.5
do.... '15,237.6 214,452.7 2 1,035.8
948.4 1,270.6
do.... '3,138.3 23,364.0 2285.8
193.5
266.3
do.... '11,193.4 28,589.4 2740.9
669.2
689.7
do.... '81,416.9 265,409.2 27,439.3 5,107.2 5,008.9
do.... '75,577.3 259,396.4 26,830.8 4,523.2 4,504.2
2
2
do....
'479.5
405.8
42.8
19.2
40.2
do
'9,445.9 29,493.5 2777.4
667.7
872.9
2
2
do
'37,291.9 33,148.4 3,225.9 2,830.9 2,963.7
do.... '69,627.2 273,319.6 26,199.7 5,263.5 6,601.1
2
do
'38,212.2 239,456.8 23,318.1 2,784.4 3,295.6
do.... '31,415.2 33,862.8 22,881.6 2,479.1 3,305.5
do.... '26,216.9 229,360.6 22,436.4 2,017.7 2,842.8
1,271.3
16,610.8
1,158.2
284.1
703.2
4,311.9
3,862.8
25.4
730.2
2,454.4
5,785.5
2,898.5
2,887.0
2,522.3
c
l,348.2
19,456.3
1,267.2
321.2
771.6
4,167.4
3,749.4
38.8
840.3
3,203.9
7,051.3
3,557.7
3,493.6
2,977.3
c
l,334.7
20,476.2
1,272.6
292.4
790.5
5,426.6
5,025.3
43.1
820.7
3,091.3
6,929.7
3,702.3
3,227.4
2,780.7
c
l,148.6
18,614.7
1,122.5
251.3
695.3
5,942.7
5,454.9
31.8
698.9
2,501.4
5,646.5
3,108.7
2,537.8
2,270.6
c
l,348.0
21,519.8
1,301.1
300.1
782.1
6,353.1
5,954.0
46.6
897.6
2,941.1
6,700.7
3,867.0
2,833.7
2,532.5
c
l,302.0
18,885.8
1,266.6
310.1
715.8
5,200.6
4,741.4
24.4
869.7
1,428.6
19,790.7
1,384.3
305.3
701.3
5,946.5
5,486.9
32.2
827.0
2,581.1
5,894.2
3,419.1
2,475.1
2,202.1
2,616.0 2,509.1 2,229:1
6,187.3 5,543.0 5,517.3
3,422.8 3,044.5 3,038.2
2,764.5 2,498.5 2,479.2
2,436.6 2,178.6 2,163.0
1,248.0
17,754.0
1,232.7
287.5
705.0
5,037.4
4,419.7
32.3
739.3
1,234.3
17,485.9
1,192.8 1,346.6
266.0
353.5
691.9
624.8
5,467.6 5,141.6
4,843.7
28.9
38.5
751.8
859.9
2,469.2
6,152.4
Feb.
S-18
SURVEY OF CURRENT BUSINESS
Unless otherwise stated in footnotes below, data
through 1978 and descriptive notes are as shown
in the 1979 edition of BUSINESS STATISTICS
1981
1982
Annual
March 1983
1982
Jan.
Feb.
Mar.
Apr.
May
June
1983
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
FOREIGN TRADE OF THE UNITED STATES—Continued
Indexes
Exports (U.S. mdse., excl. military grant-aid):
Unit value
.....1977 — 100..
Quantity
do
Value
... •• ..... •• do.
1562
111 6
1742
1556
1130
1758
1548
1294
200.2
154.6
1199
185.3
154.3
1225
189.1
1526
1265
1931
1535
1118
1716
151.3
107 1
162.1
1508
1078
1626
1516
1133
1718
1510
1032
155.8
1522
1089
165.7
1
1703
*1052
179 1
1707
1091
186.2
1717
876
1504
1704
1007
1715
1696
86.8
147.3
1673
102.4
171.3
1659
1083
179.6
1674
97.2
162.7
165 1
114.0
188.3
164 1
1013
166.2
1662
105.2
174.7
164 1
953
156.5
1642
93.8
154.0
mil $
1406 796
1123 495
29 927
9657
32 880
9856
37243
Il'll3
37 240
10237
37178
10*299
37012
10514
31425
9,080
mil. $..
General imports:
Unit value
Quantity
Value
1
150.8
1
1454 420
1
177,059
27 342
11,465
28 615
12,995
26 025
11,010
27 300
13,170
34 464
13,875
33829
12,924
20.12
54.9
2,583
20.94
56.4
2,716
19.20
55.9
2,527
20.92
57.8
2,717
16.75
270
84
15.95
258
78
17.34
253
-117
4.91
235
34
3.25
233
36
3.57
208
47
678
654
654
'125.1
'121.3
'121.8
1288
494 1
do
... do
do. .
.....
1
Shipping Weight and Value
Waterborne trade:
Exports (incl. reexports):
Value
General imports:
Value
6
39
6
974
15,694
TRANSPORTATION AND COMMUNICATION
TRANSPORTATION
Air Carriers (Scheduled Service)
Certificated route carriers:
Passenger-load factor
Ton-miles (revenue), total
,„
percent..
mil..
Operating revenues (quarterly) # §
r^asse ge ev u
,
mil. $..
..
M '1
Operating expenses (quarterly) §....
Net income after taxes (quarterly) §
H
do..,,
do....
Domestic operations:
Passenger-miles (revenue)
bil..
Mail ton-miles
do
Operating expenses (quarterly) §
Net income after taxes (quarterly) §
do....
do....
'248.89
r
58.6
r
31,949
•
'1
do
O
u rterl ) §
Operating expenses (quarterly) §...,..
mil $
do....
17.65
55.3
2,280
'198.72
r
3,350
'998
21.71
60.7
2,768
21.58
61.2
2,715
21.52
58.4
2,725
209.54
3,026
1,004
15.92
225
79
14.80
230
77
18.29
269
87
17.76
249
85
17.26
257
82
'50.17
'2,335
376
26390
2
6,595
186
49.43
2,430
399
7,714
3.70
162
29
2.85
180
29
3.42
208
33
25.16
63.0
3,094
25.82
64.0
3,153
9,834
8,317
601
165
8,479
172
18.97
250
77
19.79
254
79
20,23
258
77
3.83
191
32
4.26
202
32
4.70
185
31
5.59
203
32
5.36
214
32
4.51
205
31
1,912
1,777
83
] 601
1574
13
1,366
1 444
94
15.61
254
80
7,604
7,431
65
7,350
7,231
31
6832
7,373
-501
29 014
29,277
2
-360
23.67
63.6
2,910
9,222
7,767
602
171
9,063
43
8415
7,039
556
172
9,046
-689
7,948
C
f
"1
M Tto m'lp«i
19.62
55.5
2,457
36,502
30,579
2,480
675
2
36,922
533
2
International operations:
258.96
59.0
32,754
Urban Transit Systems
603
623
720
650
636
645
584
631
636
Motor Carriers
Carriers of property, large, class I, qtrly.: @
iNumue
p i g
.
.
100
3,937
100
3,910
100
3587
100
16,489
Net income, after extraordinary and prior period
199
48
58
48
182
39
41
40
Tonnage hauled (revenue), common and contract
Freight carried—volume indexes, class I and 11
intercity truck tonnage (ATA):
Common and contract carriers of property
(otrlv )
average same period 1967 100
Common carriers of general freight,
seas adj
1967 — 100
r
'129.1
'132.1
'128.8
'130.9
'132.3
'132.4
'130.9
r
!32.5
'29.7
!47.0
128.9
30,904
28,925
535
2
27,507
2
25,627
2
571
7a90
6,707
142
7222
6,746
145
6,612
6,148
145
6,482
6,026
139
2
l,922
26,473
2
767
3
1,202
6,821
204
216
6,821
265
340
6,500
114
161
6,331
184
436
911.7
911.9
327.6
799.6
799.6
351.4
Class I Railroads t
Financial operations, qtrly. (AAR), excl. Amtrak:
uperating reve
,
«p
ass
^g '
ngeg
do
Net railway operating income
Traffic:
Ton-miles of freight (net), total, qtrly
Revenue ton-miles, qtrly. (AAR)
Price index for railroad freight
do....
bil..
do....
1969—100
r2
28,560
r2
1,386
r3
r
35b"4
356!6
207.4
207.4
350.5 ""35L2
35L4
208.0
208.0
351.5 ""'352"6
352!6
190.9
190.9
351.9
351.9
351.9
159
60.33
57
40.22
56
185
63.37
45
40.97
56
207
63.96
71
41.79
71
200
62.00
68
41.30
66
215
60.82
68
41.02
72
191
59.17
65
41.77
72
188
61.34
63
41.89
62
'211
64.28
70
41.26
65
'193
61.87
62
39.19
58
395
371
382
305
1,683
2,084
2,691
3,528
5,251
8,136
11,043
10,535
2,909
3,063
3,442
2,829
236
7,018
4
600
4
623
4
686
4
260
2,349
2,800
2,722
2233
496
4
795
4
762
4
838
4
208
2,051
2,192
2,381
1,931
271
193.8
193.8
352.1
4
14.0
355.2
4
15.2
Travel
Hotels and motor-hotels:
Hotels: Average room sale U
Rooms occupied
Motor-hotels: Average room sale Tj
Rooms occupied
Foreign travel:
U S citizens' Arrivals (quarterly)
Departures (quarterly)
Aliens: Arrivals (quarterly)
,
Departures (quarterly)
Passports issued
.. ... ••
dollars..
% of total..
dollars% of total-
194
56.39
68
38.31
67
thous
do....
do....
do....
do....
8,905
9,978
11,976
9,933
3,222
62,237
See footnotes at end of tables.
9,237
9,833
10,836
8,704
3,664
204
62.44
68
41.41
70
212
58.66
64
43.15
72
737
223
5,532
602
228
2,890
4
573
4
647
4
797
4
579
288
2,098
384
"310
S-19
SURVEY OF CURRENT BUSINESS
March 1983
Unless otherwise stated in footnotes below, data
through 1978 and descriptive notes are as shown
in the 1979 edition of BUSINESS STATISTICS
1981
Jan.
Annual
1983
1982
1982
Feb.
Mar.
Apr.
May
June
July
Aug.
Oct.
Sept.
Nov.
Dec.
Jan.
Feb.
TRANSPORTATION AND COMMUNICATION—Continued
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..
Telegraph carriers:
Domestic:
Operating revenues
mil. $..
Operating expenses
..
do
Net operating revenues (before taxes)
do....
Overseas, total:
Operating revenues
........
do....
Net operating revenues (before taxes)
5911
2508
2324
3924
1,041
164.5
5802
2515
2163
3944
987
1644
6163
2,552
2468
4,304
996
164 1
6128
2604
2348
4229
1,011
164.3
6080
2,591
2321
4216
998
164 1
6238
2,660
2379
4,315
1,037
1627
6225
2,665
2348
4,292
1,059
162.2
6329
2679
2428
4189
1,148
1617
6291
2,712
2338
4,366
987
1614
6327
2,736
2334
4,417
986
160.8
6 310
2745
2308
4481
961
1595
779.2
6238
112.7
64.2
518
8.7
643
522
8.4
70.3
553
10.5
669
540
9.4
681
55 4
9.0
700
55 8
10.6
684
566
8.2
69 1
592
6.5
669
696
-7.0
66.5
543
8.4
66.2
564
6.1
578.0
4362
117.0
487
390
7.5
48.8
383
8.4
547
399
12.6
505
389
9.3
509
41 2
7.5
538
41 7
9.0
482
40 2
5.8
500
42 0
5.5
519
43 1
4.0
503
426
5.3
502
429
4.5
84
!93
31
r
768
'56
72
96
734
189
30
752
59
68
100
710
182
28
722
40
74
66498
28,117
26,505
44,594
11,903
164.9
do....
73808
31,698
28099
51269
11,951
1578
6005
2730
2342
4592
740
1578
CHEMICALS AND ALLIED PRODUCTS
CHEMICALS
Inorganic Chemicals
Production:
Aluminum sulfate, commercial (17% A1203) $
thous. sh. tons.
Chlorine gas (100% C12) $
do...
Hydrochloric acid (100% HC1) $......
doPhosphorus, elemental $
,
do....
Sodium hydroxide (100% NaOH) t
do...
Sodium silicate, anhydrous $
,
do...
Sodium sulfate, anhydrous $
do...
Sodium tripolyphosphate (100% NasP301<() $
do...
Titanium dioxide (composite and pure) $
do...
Sulfur, native (Frasch) and recovered:
Production
,
thous Ig. tons
Stocks (producers') end of period
do...
Inorganic Fertilizer Materials
Production:
Ammonia, synthetic anhydrous $
thous. sh. tons.
Ammonium nitrate, original solution $
do...
Ammonium sulfate $.....,.
,..„,
do...
Nitric acid (100% HN03) $
do...
Nitrogen solutions (100% N) $
do....
Phosphoric acid (100% P206) $....
do....
Sulfuric acid (100% H2S04) $.....
do....
Superphosphate and other phosphatic fertilizers
(100% P205):
Production
thous. sh. tons..
Stocks, end of period...........
do....
Potash deliveries (K2O) j|
do
Exports, total #
do....
Nitrogenous materials
do....
Phosphate materials
do...
Potash materials
... ... .
do
Imports:
Ammonium nitrate . .
do
Ammonium sulfate
,
do....
Potassium chloride
.,
do....
Sodium nitrate ...........
,, .....
do
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)
mil. lb,.
Creosote oil
,
„
mil. galEthyl acetate (85%)
mil. lb..
Formaldehyde (37% HCHO)
,
do....
Glycerin, refined, all grades
,.,... do....
Methanol, synthetic
mil. gal..
Phthalic anhydride
mil. lb..
ALCOHOL
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....
See footnotes at end of tables.
1,206
10,556
2,444
426
10,650
738
1,162
1,187
9,138
2,490
361
9,225
649
895
87
768
210
30
764
48
82
101
786
227
27
767
64
84
118
815
251
34
801
62
81
95
828
218
33
837
64
74
91
794
215
31
807
51
73
111
782
225
31
786
54
72
94
783
198
3:
794
44
71
111
698
199
26
731
54
74
99
684
183
29
696
53
70
690
748
630
640
52
44
56
58
57
56
48
55
53
53
55
51
41
53
54
52
51
58
56
51
55
54
52
55
W 440
3,577
8460
4,175
782
3,651
718
3697
808
3775
755
3911
726
4 152
687
4 195
686
4231
685
4202
651
4 229
643
4 160
658
4 199
663
4 175
19,043
8,791
4
1642
9,039
4
2,951
9,914
40,795
15,506
7,334
1791
7601
6
2,434
8,523
32,017
1,361
705
136
682
4
196
659
2,638
1,296
680
159
692
4
202
672
2,625
1,434
812
164
822
4
258
748
2,818
1,498
701
174
716
4
244
663
2,612
1,523
664
154
664
4
268
640
2,443
1,356
573
156
585
4
230
673
2,462
1,203
490
161
524
4
211
696
2,551
1,173
515
146
543
185
760
2,703
1,196
516
141
558
4
211
749
2,772
1,167
559
145
608
6
134
802
2,894
'1,137
r
564
r
!25
r
614
rfl
!51
r
682
r
2,714
1,162
555
130
593
6
144
779
2785
16,903
3
1,068
6478
22,391
2,834
13,308
1203
13,133
890
5 186
20340
2,648
11997
1218
1 128
1,197
416
1497
243
860
62
1213
1,306
396
1637
212
1 135
30
1240
1317
417
2031
274
1309
106
983
1200
618
1582
259
992
37
857
929
552
1 736
244
1 022
109
967
917
375
1 811
251
911
142
1 065
998
340
1 872
317
933
146
1 184
926
517
1 734
148
979
139
1 230
909
389
1 756
229
1 013
158
1 258
881
358
1 580
207
982
64
966
883
313
1 912
'l39
1 177
172
1 042
890
264
327
8601
159
262
319
7 154
131
21
20
670
12
16
24
552
18
34
582
21
33
51
722
9
51
23
664
22
29
30
483
19
19
20
599
5
16
5
643
18
25
504
17
33
661
1^
28
489
15
288
317
1
3
5,161
8
3,813
103,278
490,285
430,610
3,946
6
o
296
6
509
376
6
6
435
8
2 504
122
1 10K
714
oc
54
674
312
8,014
r
41,163
r
27 419
297
7,191
39^330
27 109
298
7784
39,923
26 401
1.6
5.8
19.7
334.7
204
97 4
57 2
17
5.7
18.8
391.3
16 4
76 7
480
6.6
19.2
394.6
18 7
77 3
69 0
20
4.3
12.9
427.5
21 5
94 3
54 4
10.3
382.4
21 5
83 2
58 7
18.7
3070
r
!3 8
97 1
48 0
526
580
519
59 9
44 3
557
53 3
49 1
61 9
48 1
61 6
45 5
21 9
217
4.7
23 5
224
5.1
22 1
232
4.0
25 6
255
4.0
23 7
23 6
3.9
31 9
28 8
5.7
297
7,597
39,063
31483
317
7,679
39,142
30689
333
7,637
40,833
30678
"330
7,773
41,133
30 044
'22.6
X
81.0
232.6
2.1
5.2
13.7
375.0
175
93.0
538
2.4
6.4
11.0
379.0
186
85.8
421
2.7
8.2
24.8
398.4
204
109.8
756
2.2
2.0
8.5
24.3
402.3
192
956
68 5
1.4
24.0
443.8
22 8
1109
647
19.9
368.2
18 7
1042
53 7
571.2
83.2
42.9
798
39.8
816
48.2
728
376
64 0
419
57 5
230.2
225.9
5.0
187
18.3
4.7
17.2
15.2
6.2
224
22.8
4.8
199
185
4.8
203
202
4.5
229.5
1
1,094.1
X
691.0
'
vAOQ
19
^295
7,276
40,190
27241
334
7,893
41,591
35,306
^edi.i
638
4 070
25
584
325
7,515
42,247
28742
286
7,692
38,194
31,399
1
1 193
125
684
55
r
262
7,189
40,745
31,827
2
29.7
'81.9
277.1
'5,720.7
299.1
l
l,291.7
1
869.5
o
(2\
AQK
r6
6
3,686
91,240
483,554
358,338
1
1C
r
271
406
e
6
r
756
r
284
6
257
r
253
8
254
6
23 6
PQQC
S-20
SURVEY OF CURRENT BUSINESS
1981
Unless otherwise stated in footnotes below, data
through 1978 and descriptive notes are as shown
in the 1979 edition of BUSINESS STATISTICS
1982
March 1983
1982
Jan.
Annual
Mar.
Feb.
Apr.
May
June
1983
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
CHEMICALS AND ALLIED PRODUCTS—Continued
PLASTICS AND RESIN MATERIALS
Production:
Phenolic resins
mil Ib
Polyethylene and copolymers
do....
Polypropylene
•
. do
Polystyrene and copolymers
do....
Polyvinyl chloride and copolymers
do....
1
1
1,688.0 '1,209.8
12,603.6 '12,208.9
'4,007.8 '3,551.8
'5,915.2 '5,060.0
'5,618.4 '5,370.7
93.2
814.6
276.4
351.8
329.0
100.7
845.8
304.5
397.5
384.5
544.9
234.8
201.9
108.2
579.9
274.2
196.3
109.4
101.5
1,012.5
347.9
432.8
436.9
103.7
955.5
321.8
414.4
426.2
102.5
942.3
287.8
435.4
491.4
741.0
362.9
220.3
.157.9
791.2
415.9
222.8
152.5
102.7
944.7
271.6
422.2
490.5
89.7
974.4
261.0
432.1
374.3
91.8
1,053.7
273.1
441.1
408.5
744.9
390.7
204.0
150.2
798.2
408.7
222.6
166.9
101.1
1,053.7
280.4
460.5
481.0
107.0
998.4
287.5
434.0
454.9
93.4
91.3
1,020.1 1,083.4
311.0
286.4
421.1
352.1
452.4
405.5
MISCELLANEOUS PRODUCTS
Explosives (industrial), shipments, quarterly
mil. Ib..
Product finishes (OEM)
p
purp
g
3,003.6
2,514.9
mil. $
Paints, varnish, and lacquer, shipments:
Total shipments
8,395.7
3,968.9
2,737.2
1,689.5
8,297.1
4,052.0
2,546.3
1,698.7
do
711.7
355.5
219.8
136.4
835.1
433.6
235.4
166.1
5699
5829
675.1
687 0
773.8
379.3
234.4
160.1
656.4
302.4
206.4
147.6
'589.0
'254.7
'202.5
'131.8
531.0
239.4
179.8
111.8
ELECTRIC POWER AND GAS
ELECTRIC POWER
Production:
By fuels
210 098 180 310 187 662 172 588 177 261 186 204 210 543 205,656 180 662 172,967 173,377
183 195 153 614 157 784 144 661 149,199 158 178 183,131 181,768 160,766 153,216 150,080
26904 26698 29 879 27928 28063 28027 27412 23,888 19,896 19,751 23,297
2 294 812
2 034 129
260 684
do
Sales to ultimate customers, total (Edison Electric
Institute) i
mil kw -hr 2 153 796
541 426
799 885
Industrial §
do
4091
Railways and railroads.
do
735 724
512 758
133 118
188,374
563,084
151,910
193,918
3
1059
204 112
33933
3
12 938
3
1527
1,006
171 862
1,038
198,141
3458
13358
1581
3633
12901
1,543
30 513
29440
33485
47 859
48 352
44059
3 563
189
48
44466
3644
194
49
48253
44405
3613
187
48
47894
44,116
3,546
184
48
15 338
5332
2,279
1,078
1875
100
3051
4 573
2357
8 165
'243
42
2,399
405
285
1,670
39
56478
d hi h
3
542 662
3
137 466
3
22 859
19208
9 267
27276
727
10449
4787
7272
351
13348
4,408
2 162
6,607
172
10789
2,395
1,409
6,832
152
'
3
14975
51 055
6640
Revenue from sales to ultimate customers (Edison
Electric Institute) i
mil $
185 625
111 584
Ofh
T t d
KT
rt
tVi t
t 1
d
d
GAS
Total utility gas, quarterly
(American Gas Association):
Residential
y
,
,
.
do
-,
J
Other
do
C
'fll
dn
TnH strial
Other
do
do
Residential
do
Industrial
Other
do
do....
3
876
459
1674
POOD AND KINDRED PRODUCTS; TOBACCO
ALCOHOLIC BEVERAGES
Beer:
Production
...mil. bbL
St
k
end of ne "od
Whisky:
Production $
mil proof gal..
Wines and distilling materials:
Effervescent wines:
Production
Taxable withdrawals
Imports
mil. tax gal..
mil proof gal
mil. tax gal-
Imports
mil. wine gal..
do
.
do....
Still wines:
Taxable withdrawals $
Stocks, end of period $
Imports
..
Distilling materials produced at wineries
See footnotes at end of tables.
18.19
17.22
15.28
17.17
16.10
14.45
19.50
16.26
14.31
15.64
14.88
13.99
15.07
13.83
14.00
13.65
13.14
13.43
13.31
12.27
13.22
15.19
11.90
14.16
11.02
12.34
15.28
13.59
10.98
10.83
6.85
6.57
10.50
14.68
13.95
449.45
613.76
117.93 " i.06X>2
30.70
612.96
7.03
30.22
608.32
6.33
35.69
618.40
5.82
36.13
621.06
7.98
33.29
616.72
9.12
38.32
616.84
10.86
33.47
614.96
7.29
32.74
565.60
8.95
34.93
604.93
9.87
36,33
605.53
12.75
43.13
603.68
11.75
8.29
12.41
96.66
541.07
86.53
76.60
7.37
541.03
4.91
8.88
543.22
4.65
10.32
545.29
4.06
10.20
547.76
5.91
7.54
547.25
6.88
7.81
545.48
8.09
4.94
544.59
5.40
4.57
501.07
5.88
6.66
539.59
7.19
8.31
536.00
9.89
7.73
533.69
8.18
5.54
9.59
30.73
27.27
11.53
7.66
30.78
29.03
13.15
8.35
1.83
1.15
12.67
0.53
1.89
1.12
13.09
0.33
2.06
1.93
13,23
0.45
1.92
1.62
13.59
0.52
2.18
2.57
13.36
0.67
2.92
1.98
13.65
0.70
2.51
1.21
15.52
0.52
3.11
2.17
15.56
0.67
3.39
1.90
16.52
0.71
3.77
6.55
14.64
0.81
2.70
2.85
14.02
1.13
2.50
3.99
13.15
1.29
1.01
466.23
DistiUed spirits (total):
Production
mil. tax galConsumption, apparent, for beverage
Stocks, end of period $
Imports
18.22
16.56
15.59
196.21
176.58
13.22
554.01
396.21
695.27
113.78
190.23
4.02
28.98
575.15
9.96
6.03
25.63
557.53
6.49
7.07
35.16
523.86
7.81
162.79
27.10
512.20
9.93
43.17
229.61
34.14
702.10
9.13
4.04
5.18
25.76
408.23
8.83
1.86
29.96
29.17
395.40
9.99
2.87
3.81
28.62
467.53
9.45
1.37
4.97
30.96
435.01
10.61
2.88
4.87
30.03
492.03
8.16
11.35
72.07
71.06
705.62
11.94
27.96
23.64
29.58
695.27
11.47
9.61
193.69
176.70
12.95
do
do....
do....
do
do....
152.03
2
r
363.64
r
604.41
107.60
188.20
15.00
12.91
14.93
17.65
15.68
16.32
17.62
15.82
15.83
2.08
11.68
71.36
12.42.
Feb.
S-21
SURVEY OF CURRENT BUSINESS
March 1983
Unless otherwise stated in footnotes below, data
through 1978 and descriptive notes are as shown
in the 1979 edition of BUSINESS STATISTICS
1981
1982
1982
Annual
Jan.
Feb.
Mar.
Apr.
May
June
1983
July
Sept.
Aug.
Oct.
Nov.
Dec.
Jan.
Feb.
FOOD AND KINDRED PRODUCTS; TOBACCO—Continued
DAIRY PRODUCTS
Butter, creamery:
Production (factory) @
,,,..,
mil. Ib
Stocks, cold storage end of period ...
do
Price, wholesale, 92 score (N.Y.)
„.. $ per Ib
1,228.2
4292
1
1.535
1,258.8
4668
(7)
Cheese:
Production (factory), total @
American, whole milk @
4,229.0
2,608.5
128.3
430.3
116.8
4404
1234
4478
8
3329
8
4,432.0
2,692 7
347.0
218.4
325.8
2049
3763
2322
709.6
6230
247 7
963.5
8808
269 3
6263
190
6964
6226
11 8
"18 178 8
7409
r8
803 9
8
712 3
206
18 8
10995
6625
r
7117
r
1 672
1 684
1 684
1 684
757.9
738.5
58.1
53.6
615
46.0
349
51.9
193
45.5
22
40.7
50
477
12
133,013
76,004
13 80
135,795
78,371
1355
11,116
6,370
13 90
10391
6,099
13 80
11 728
6,945
1360
92.7
1,314.3
1017
1,397.2
9.2
104.1
80
1072
94
1253
6.0
86.7
198.0
6.0
93.3
187.8
7.6
87.7
9.4
6.9
94.5
12.6
6.9
94.4
17.4
0.939
^.936
0.936
0.936
3,918.3
3,524.8
285.8
299.5
360.9
Exports, including malt §
do....
Corn:
Production (crop estimate, grain only) ? - mil. bu..
Stocks (domestic), end of period, total $
do....
On farms $
,
,„..,
,
do....
Off farms
,
do .
95.9
8.2
226.9
1475
79.4
6.5
9
r9
1 1046
633 8
r
963 5
r
880 8
46 8
8
0.937
Exports (barley, corn, oats, rye, wheat) ........ mil. bu..
Barley:
Production (crop estimate) H
do,...
Stocks (domestic), end of period, total $
do....
On farms $
......,....,.,
.. do
Off farms
.....„...„..,
do....
295 1
466 8
2622
5100
,.., ...mil. Ib
,...,,....,,
do .
Stocks, cold storage, end of period
do...
American, whole milk
.,
do
Imports
..
do
Price, wholesale, cheddar, single daisies
(Chicago) . . .
$ per Ib
Condensed and evaporated milk:
Production, case goods @
mil. Ib.
Stocks, manufacturers', case goods, end of
period
,
mil. Ib.
Exports
,
,
do...
• Fluid milk:
Production on farms $
............ do...
Utilization in mfd. dairy products @
do...
Price wholesale U.S average ... $ per 100 Ib
Dry milk:
Production:
Dry whole milk @
.....mil. Ib.
Nonfat dry milk (human food) @
do...
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 Ib..
V
r
541 6
7224
641 6
15 7
16 8
1 684
1 684
r
r
133 9
485 4
3749
»233 2
r9
l
r8
015 5 1 071 3
928 2
984 0
24 4
18 2
22 7
8643
765 1
25 6
24 g
28 7
1 684
1 684
1 683
1 686
1 686
1950
1856
184 6
954 5
8
r
9
06
1033
05
13 20
33983
19,431
13 50
1 684
1 684
8
18
18
891
25
24
8
35 723
8
13 40
13 20
524 7
21,419
13 10
13 20
1 686
03
03
51 9
06
13 80
1 A f\(\
32 854
18,107
1 ^ Qfl
1 680
1 666
51 4
01
9
11 292 10 627
ri q an
8
292
417 2
21 4
346 7
24 5
296 8
8
96
1275
12.1
22.4
60
93 3
10.4
9
50
84 4
19.5
IOQ 94Q
268.7
269.1
264.9
Pi q on
329.4
8
11.4
18.2
20.4
23.1
16.7
73
898
13.7
353.7
339.4
344.8
243.7
248.5
245.8
8.6
5014
353 4
148 0
5.7
8
9g 5
9
117 7
S
GRAIN AND GRAIN PRODUCTS
Exports, including meal and flour.,
do....
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)
mil. bags #..
California mills:
Receipts, domestic, rough
,.......,.,
mil. Ib..
Shipments from mills, milled
rice
do....
Stocks, rough and cleaned (cleaned basis), end
of period.
mil Ib
Southern States mills (Ark., La., Tenn., Tex.):
Receipts, rough, from producers
mil. Ib..
Shipments from mills, milled
rice
do....
Stocks, domestic, rough and cleaned (cleaned
basis), end of period
mil Ib
Exports
, ..... do
Price, wholesale, No. 2, medium grain (Southwest Louisiana)
$ per Ib..
Rye:
Production (crop estimate)
fi
mil. bu..
Stocks (domestic), end of period $
do....
Wheat:
Production (crop estimate), total fl .............mil. bu..
2
2
479.3
333.1
2312
101.9
"8,201.6
6,967.7
5,033.8
19338
2,159.3
2
509.2
365.2
314.1
51.1
522.4
418.7
2939
124!8
66.4
8.5
4
1497
4
94 1
"557
3.9
7.5
6.3
4.9
418 7
nqq Q
1.5
3.0
124 8
1.9
7.6
2
8,397.3
8,422.7
6,156.9
22658
1,924.9
5,131.8
3,625.9
1 5059
151.1
147.2
189.3
0.6
0.3
236.9
200.5
363
0.6
3
3,904.1
3
2,758.5
3
1 145 6
195.0
212.4
5
2,285.9
5
1,356.0
5
8,422.7
6,156.9
929 9
179.8
119.8
9 9^^ R
112.8
107.4
08
02
166.5
169.8
173.8
174.9
2
617.0
473.6
397.9
75.7
12.8
5.8
4
152.6
4
1272
4
08
24 8
06
08
03
03
5813
4860
95 3
03
4736
397 9
75 7
03
01
C)
'182.7
2
154.2
3,359
2,267
2,986
1,619
84
70
184
62
221
76
202
129
204
210
77
279
723
161
225
332
76
110
505
81
346
63
139
47
140
103
510
503
493
550
628
639
577
356
344
174
1AQ
369
Aftf)
Eriq
4Q1
10,821
7,354
11,482
7,020
505
612
683
564
784
685
702
662
552
602
406
583
434
505
1,198
559
3,278
615
1,507
541
542
720
550
588
2 763
6801
3 170
5516
2 572
479
2 300
515
2 132
399
1 868
487
1 610
661
1 308
538
1 012
370
1 270
809
9 89fi
q 97c
q OQO
q T7fi
320
431
199
QO7
941
0.256
0.166
0.185
0.175
0.160
0.158
0.165
0.163
0.160
0.165
0.165
0.165
0.155
0.180
0.170
2
2
18.8
7.9
20.8
10.9
2
2,799
2
2,104
r
do....
do
do
2,178.0
955 6
12224
Exports, total, including flour...
Wheat only
....„...,
do....
do....
1,647.7
1,610.8
16.5
10 9
2
Stocks (domestic), end of period, total $
On farms $.,,. ... ..
Off farms
,. .,,
3.1
403
q 1 Q/»
2
do....
do.,..
4
5.8
714
Winter wheat j|.....
Distribution, quarterly @@
See footnotes at end of tables.
,
.,
2,526
2,809
2,108
2,472
2,521.4
1 167 4
1 3540
1,527.5
1,493.6
r
6
622
125.6
124.2
143.8
138.7
1,557.1
748 4
808 7
164.5
159.1
r8
394
987
1,163.9
4
581 0
4
5829
154.1
147.4
118.9
114.8
469
2,987.1
4
2,521.4
•I Af)-t
157.9
155.7
118.7
117.9
126.8
124.0
fl
1 566 0
132.4
130.8
1 1ft7 A
1 ^4 n
99.9
98.5
96.0
94.1
88.9
88.5
146.8
143.1
0.165
S-22
SURVEY OF CURRENT BUSINESS
Unless otherwise stated in footnotes below, data
through 1978 and descriptive notes are as shown
in the 1979 edition of BUSINESS STATISTICS
1981
1982
March 1983
1982
Annual
Jan.
Mar.
Feb.
Apr.
June
May
1983
July
Sept.
Aug.
Oct.
Nov.
Dec.
Jan.
r
23,867
r
429
53,778
Feb.
24,473
438
54,783
FOOD AND KINDRED PRODUCTS; TOBACCO—Continued
GRAIN AND GRAIN PRODUCTS— Continued
Wheat flour:
Production:
Flour $
.... thous sacks (100 Ib.) .
Millfeed i
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....
283,966
5,045
634,381
284,965
5,133
640,158
23,985
432
53,740
23,553
423
52,786
25,256
453
56,663
22,474
403
50,348
21,886
393
49,018
22,471
406
50,215
23,153
424
52,333
24,669
448
55,826
24,213
435
54,340
24,965
450
56,328
3,460
15,839
4,276
14,518
605
2,165
3384
2,336
2,858
1,760
3,744
944
352
1,196
3,563
698
593
824
4,276
185
1,587
10.844
10.347
10.545
10.600
10.763
10.638
10.950
10.700
10.738
10.638
10.538
10.425
10.550
10.500
10.538
10.188
10.475
10.388
10.463
10.450
10.163
10.200
Poultry:
Slaughter
mil. Ib..
Stocks, cold storage (frozen), end of period, total
mil. Ib..
15,058
15,320
1,117
1,070
1,253
1,220
1,222
1,360
1,306
1,377
1,364
1,338
1,270
1,223
1,217
392
238
Price, in Georgia producing area, live broilers
$ per Ib..
1
r
10.300
POULTRY AND EGGS
2
425
2
345
r
204
r4
329
r4
194
313
188
0.235
0.240
0.265
Stocks, cold storage, end of period:
Frozen
mil Ib
Price, wholesale, large (delivered; Chicago)
$ per doz..
237
374
236
377
233
0.265
0.250
0.255
0.250
0.256
194.0
Eggs:
345
204
r
377
r
193.6
35
22
34
25
0.690
0.668
2,478
32,819
2,729
33,907
63.84
64.26
77.25
64.30
62.79
77.70
87,850
79,328
44.29
55.21
45.77
49.70
49.50
52.16
58.35
59.01
59.70
63.18
63.12
57.27
53.90
55.23
14.9
22.4
17.1
19.8
19.8
20.1
21.8
22.4
23.2
26.7
28.6
28.2
24.6
23.7
2
r
565
436
282
0.235
0.270
0.260
0.270
28
21
19
19
0.742
0.752
0.265
0.604
0.608
0.230
4
16.4
14.8
r
34
r
r4
35
4
28
25
27
0.641
0.602
0.627
4
221
2,893
204
2,554
59.33
63.70
75.88
61.20
66.34
75.00
29
28
23
0.683
0.230
48.4
2
32
2
39
17
0.762
0.250
47.9
48.8
485
0.617
0.616
0.659
25
0.668
0.662
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. animalsPrices:
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. animalsPrice, wholesale, lambs, average (Omaha)
$ per 100 Ib..
5,789
53.98
do
do....
do....
38,675
578
1,847
1,832
37,266
554
1,566
2,015
do....
22,629
266
486
1,317
22,789
302
540
1,446
0.998
1.013
60.75
59.22
69.00
65.80
63.96
71.50
63.54
62.37
67.50
69.11
64.72
78.00
72.10
66.07
82.88
49.75
59.00
66.18
64.17
84.84
65.14
66.42
81.12
61.25
63.55
84.60
59.50
726
8,762
58.78
62.21
75.00
58.91
61.24
75.00
59.82
59.17
78.40
20,068
18,310
66.25
60.50
167
167
9097
2
504
147
215
40
113
1.026
57.25
50.00
50.50
4
C
4
6,421
5,762
57.24
57.78
r
23.4
4
48.25
22.6
509
457
53.50
58.50
1,634
1577
1,493
l,570
51.50
70.18
63.70
85.00
20,043
20,908
r2
r
692
8,770
r
r2
6,273
52.23
r
609
8,192
r2
702
8,183
r2
46.75
48.50
4
2,786
569
143
124
9,659
r
554
115
114
4
1,961
4
310
44
153
1,738
316
0.939
0.966
MEATS
Total meats (excluding lard):
„, ,
*\ ,
A f
'oH
Exports (meat and meat preparations)
Imports (meat and meat preparations)
Beef and veal:
Stocks, cold storage, end of period
Imports
do
Price, wholesale, beef, fresh, steer carcasses,
choice (600-700 Ibs.) (Central U.S.)
$ per Ib..
Lamb and mutton:
Production total
mil Ib
Stocks, cold storage, end of period
do...
Pork (excluding lard):
Production total
mil Ib
Exports
do...
Imports
do...
Prices, wholesale:
Hams smoked #
... Index 1967—100.
Fresh'loins, 8-14 Ib. average (N.Y.)
$ per Ib.
r2
r
9,345
536
124
160
553
129
127
524
147
106
r
259
33
93
232
46
72
5,562
220
44
108
40
130
52
116
5,462
2
197
49
158
0.974
1.012
1.038
1.095
1.151
1.112
131
169
r2
r2
r
111
158
108
234
9,165
474
112
246
41
180
5,837
254
42
194
52
146
56
67
5,928
r
302
43
69
1.008
0.955
0.930
0.929
0.926
246
25
30
3,693
274
21
46
22
34
42
43
3,550
2
264
32
50
19
42
271.1
1.209
278.6
1.169
282.4
1.100
283.7
1.186
289.2
1.301
299.4
1.386
194.2
0.924
10.0
1.160
29.0
1.070
17.6
1.020
15.3
0.990
16.8
0.940
(3)
(3)
16,555
3243
1.594
5,189
17,416
3,372
1.420
5,456
1,287
186
1.510
397
1,195
210
1.360
507
1,490
267
1.360
486
1,147
227
1.450
390
350
383
315
282
275
256
15,719
264
347
432
14,121
219
282
498
266.5
1.137
10
8
247
30
30
1.277
245.0
1.085
r2
r
3,151
r4
573
114
208s
4
30
4
8
27
8
1,159
r4
224
15
50
1,021
215
93
9
88
9
85
2
8
356
9
r
r
90
9
328
11
133
194
r
r
4
18
45
3,240
183
16
44
17
43
22
51
3,638
r
219
19
40
299.6
1.376
305.6
1.366
327.5
1.415
342.7
1.349
342.0
1.232
352.4
1.229
329.8
1.291
323.0
1.369
11.9
0.800
13.0
0.830
20.3
0.860
14.3
0.870
14.4
0.880
14.4
0.820
17.4
0.850
46.0
0.910
1.020
1,476
299
1.450
338
1,335
213
1.450
360
1,282
264
1.450
330
1,602
307
1.450
491
1,640
412
1.450
608
2,005
445
1.450
570
1,356
196
1.330
r
510
1,602
346
1.330
469
1,556
384
1.330
(3)
1.330
250
280
334
372
389
369
385
383
337
MISCELLANEOUS FOOD PRODUCTS
Cocoa (cacao) beans:
Imports (incl shells)
thous Ig tons
Price, wholesale, Accra (New York)
$ per Ib.
Coffee (green):
Inventories (roasters', importers', dealers'),
ena or penoa
"TVC
Imports total
. .
From Brazil
Price, wholesale, Santos, No. 4 (N.Y.)
Confectionery, manufacturers' sales @
Fish:
See footnotes at end of tables.
H
do...
do
$ per Ib
mil. $
S-23
SURVEY OF CURRENT BUSINESS
March 1983
Unless otherwise stated in footnotes below, data
through 1978 and descriptive notes are as shown
in the 1979 edition of BUSINESS STATISTICS
1981
Annual
1983
1982
1982
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Nov.
Oct.
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
Deliveries total
For domestic consumption
Stocks raw and ref end of period
Exports raw and refined
.
Imports raw and refined
.
Prices, wholesale (New York):
Raw
Refined (excl excise tax)
Tea, imports
TOBACCO
.
do
do....
do
sh tons
thous sh tons
Leaf:
Production (crop estimate)
Stocks, dealers' and manufacturers',
end of period $
•.
Exports, incl. scrap and stems
Imports incl scrap and stems
$ per Ib.
do
thous. Ib..
979 157
5054
58512
2616
745
648
638
3743
4370
223
0.198
0303
4
(4)
()
182,613
5 157
(4)
10922
9731
3311
190,254
1
(4)
(4)
(4)
(4)
(4)
(4)
2953
215
2837
100
(4)
4246
316
0.180
0282
15,055
0178
0282
15,464
0 169
0282
13,787
0 176
0280
13,176
0.195
0300
16,518
14,309
3644
16359
142
15619
218
0.208
0300
1478
133
1751
90
4551
520
1299
167
837
133
1624
164
14,286
15,598
17,425
16,207
18,222
12567
13,748
92236
29 126
50528
11 714
24 189
23 898
6 766
49 538
261
6 144
5915
33075
220
5 589
5 614
11 052
2212
360
(4)
(4)
*1962
5,080
575,255
335 920
550 006
295 740
31,670
31264
39 392
16579
4,983
49862
20 393
41756
22 659
53960
24 820
4,675
37226
25 012
23910
17 725
30179
41 903
5034
24805
25541
74480
29 006
millions..
do
do....
do
Manufactured:
Consumption (withdrawals):
Cigarettes (small):
Tax-exempt
Taxable
Cigars (large), taxable
Exports cigarettes
2064
mil. Ib..
thous. Ib..
do
92,006
638 114
3,258
82582
82078
614017
3056
73585
7479
48234
215
6426
8990
52850
221
8 148
7584
57 430
267
7 337
6577
48 368
248
5 540
5919
48 240
269
5 670
6265
60590
292
5 797
5784
49 167
234
4 461
7595
55802
279
5844
6 789
56655
291
5894
6415
54 068
259
6 734
11 842
9 726
10 786
28 394
23 035
mil Ib
r
LEATHER AND PRODUCTS
LEATHER
Exports:
Upper and lining leather
thous so ft
Price, producer:
Sole, bends, light
index, 1967-100..
LEATHER MANUFACTURES
Footwear:
Production, total
thous. pairs..
Shoes, sandals, and play shoes, except athletic
thous. pairsSlippers
do .
Athletic
do....
Other footwear
do....
Exports
,
do
Prices, producer: *
Men's leather upper, dress and casual
index, 12/80=100..
Women's leather upper
index, 1967=100..
Women's plastic upper
index, 12/80—100.
192 193
159 804
10 849
10 343
13696
15 534
17 449
18 610
18 486
12 065
10 417
375,473
324,659
26,259
27 128
31060
26894
27940
28219
23561
27873
28448
F
25 848
278,979
70834
25,660
3,171
241,103
67913
15,643
3,603
20,178
4829
1,252
257
20,102
5734
1292
274
22,975
6672
1413
365
19,680
5991
1223
334
20,878
5672
1*390
298
9688
7717
505
629
681
839
693
20,785
6 288
1375
320
595
r
18,709 17853
rg 5gQ
5 876
3867
1 511 1 263 1*315
'357
331
'243
635
649
536
103.5
205.3
94 4
104.0
105.8
106.0
101.2
106.2
106.3
106.4
207.7
947
215.6
983
214.1
983
218.5
985
219.0
99 1
219.5
99 1
220.0
997
2,376
388
1988
2,560
382
2178
2363
381
1 982
5,867
1797
4070
2 450
'377
2073
5,977
1802
4*175
2
306.7
103.1
105.3
104.9
214.4
99.6
215.8
979
204.1
944
20,444
6 427
1348
341
742
18,831
3933
797
242
636
20,365
6044
1*464
'241
577
20,303
497
107.0
107.0
105.4
106.1
105.2
221.8
r
998
221.8
99 7
221.8
992
218.5
99 1
219.8
99 2
2,445
393
2052
2,333
400
1933
2260
396
1 864
6,163
1799
4 364
2 506
407
2099
5,986
1 789
4 179
2,247
391
1856
2353
'398
1 955
5,881
1 783
4*098
2004
337
1 667
2 162
360
1 802
5724
1 761
3963
888
962
758
916
781
879
569
481
573
573
537
683
r
LUMBER AND PRODUCTS
LUMBER—ALL TYPES *
National Forest Products Association:
Production, total
mil. bd. ft..
Hardwoods
do....
Softwoods
do....
Shipments, total
Hardwoods
Softwoods.
do..
do....
do....
Stocks (gross), mill, end of period, total
do....
Hardwoods
do....
Softwoods
do....
Exports, total sawmill products
do....
Imports, total sawmill products
do....
SOFTWOODS
Douglas fir:
Orders, new
...mil. bd. ft..
Orders, unfilled, end of period
do.
Production
do....
Shipments
do
Stocks (gross), mill, end of period
do....
Exports, total sawmill products
Sawed timber
Boards, planks, scantlings, etc
do....
do
do....
Price, wholesale:
Dimension, construction, dried, 2" x 4", R.L.
$ per M bd. ft.
See footnotes at end of tables.
r3
29,592
r3
6,835
r
3
r3
29
r3
3
26,960
3
5,077
21,883
1,810
1,891
2,148
2,281
2,251
1,454
1,489
1,737
1,865
1822
27 163
3
5261
21,902
1637
1837
2148
1,244
1407
1 702
5,724
1,761
3,963
6,016
1,936
4080
6,068
1,906
4162
6,042
1842
4200
2336
427
1 909
5,983
1827
4 156
2308
'465
1 843
5,915
1786
4 129
9,518
9,421
530
585
601
792
848
6393
429
6,395
6463
844
6025
612
5,783
5842
853
407
393
523
523
129
394
471
125
345
22,757
491
6,655
'22,836
r
5,927
1,945
r
3,982
356
393
471
459
365
938
34
11
22
402
430
443
457
421
974
34
g
26
411
446
496
454
470
958
54
18
36
416
473
487
465
482
941
46
14
32
419
486
481
482
492
931
48
14
35
2,338
443
1,895
2 513
438
2075
5,853
1789
4064
888
550
500
472
530
939
40
9
30
874
504
488
520
516
943
31
g
23
494
556
563
936
42
14
28
501
512
474
974
31
7
24
510
490
564
900
41
g
33
572
509
511
898
31
g
25
612
452
497
853
39
8
31
707
642
588
907
41
^^
30
S-24
SURVEY OF CURRENT BUSINESS
Unless otherwise stated in footnotes below, data
through 1978 and descriptive notes are as shown
in the 1979 edition of BUSINESS STATISTICS
1981
1982
1982
Jan.
Annual
March 1983
Feb.
Apr.
Mar.
July
June
May
1983
Sept.
Aug.
Oct.
Nov.
Dec.
Jan.
Feb.
LUMBER AND PRODUCTS—Continued
SOFTWOODS—Continued
Southern pine:
Orders, new
mil bd ft.
Orders unfilled end of period
do
Production
do
Shipments
do
Stocks (gross), mill and concentration yards, end
of period
mil bd ft
Exports total sawmill products
thous bd ft
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
Western pine:
Orders new
mil bd ft..
Orders, unfilled, end of period.
do....
Production
do
Shipments
.
do....
1
6128
418
1
1
6143
1
6129
438
ig ige
*5996
344
430
366
332
409
448
419
391
520
476
487
492
486
446
515
516
513
463
490
496
599
467
556
595
493
409
547
551
537
427
582
519
508
401
643
534
607
438
563
570
512
435
513
515
488
438
505
485
1,284
227 020
1,474
245,221
1318
14283
1346
18936
1341
20 195
1,340
23,660
1,334
19,318
1,295
26,989
1,291
18,752
1,354
17,778
1,464
22,926
1,456
19,908
1,454
22,203
1,474
20,273
19,753
407
257
423
369
1 158
413
261
417
409
1 166
562
333
529
490
1 205
608
302
621
639
1 187
605
331
572
576
1 183
609
305
603
634
1 196
629
304
642
630
1208
741
337
726
708
1 226
609
357
603
590
1239
684
365
605
676
1 168
663
364
598
664
1 102
526
324
504
566
1,040
661
390
601
595
1046
2.0
5.4
9.9
2.2
5.4
10.3
2.6
6.9
9.9
1.9
6.0
10.5
1.8
6.0
10.2
2.1
6.2
11.8
2.2
5.8
11.4
3.3
6.7
11.3
2.7
7.3
10.4
2.8
6.7
10.6
3.4
6.3
10.9
4.8
6.2
12.0
6.7
8.0
9.3
6,Q16
7,235
219
7261
7,342
1 104
2.8
83.1
10.1
Price, wholesale, Ponderosa, boards, No. 3,
1" x 12" R L (6' and over)
$ per M bd ft
HARDWOOD FLOORING
Oak:
Orders unfilled end of period
mil bd ft..
Shipments ...
do....
Stocks (gross), mill, end of period
do....
7,017
324
6803
6,912
1 040
4.8
75.0
12.0
6.4
6.5
8.7
METALS AND MANUFACTURES
IRON AND STEEL
Exports:
Receipts net
do....
do
2,904
6,415
16
1,842
6,828
54
173
462
4
154
539
()
197
522
1
148
507
1
194
812
1
180
806
6
146
577
1
152
542
1
158
607
18
133
434
1
109
620
21
97
375
()
95
625
1
do
do
. do ..
19,898
572
433
16,663
474
322
1,969
32
36
1,600
41
16
1,356
36
14
1,029
41
48
1,696
57
71
1,784
49
35
1,113
37
9
1,451
45
15
1,191
37
14
1,146
35
41
1,258
38
11
1,090
27
13
1,098
35
5
do
Scrap
. ..
..
Pig iron
Imports:
Steel mill products
Scrap
Pig iron
Iron and Steel Scrap
'43,260
'41,981
'85,097
8,118
27,840
'27,477
'56,452
6,351
2,742
2,715
5,917
7,826
2,753
2,889
5,615
7,870
3,019
3,114
6,180
7,762
2,597
2,779
5,391
7,716
2,418
2,611
5,077
7,650
2,320
2,303
4,715
7,551
2,119
2,033
4,336
7,352
2,122
2,133
4,377
7,117
2,078
2,106
4,357
6,954
1,975
2,134
4,226
6,628
90.17
100.50
61.51
66.71
81.70
94.00
80.47
91.50
75.93
85.00
69.98
75.00
62.85
64.00
55.21
59.50
53.84
57.50
54.77
58.00
53.48
58.00
'73,174
'72,181
28,328
36,372
36,950
14,715
5,687
1,076
1,630
5,244
1,180
1,018
5,126
1,433
646
5,347
2,265
773
4,358
5,306
1,199
2,525
4,964
1,865
869
4,795
1,508
909
4,193
1,532
96,645
94,958
'5,546
60,243
12,734
36,203
6,571
775
49,872
55,234
11,800
52,621
16,948
29,923
5,750
467
1,664
5,518
44
60,401
21,594
32,298
6,509
65
1,596
2,795
1,589
4,888
5,175
5,670
211
1
1
60,894 57,340 57,725
25,701 26,576 29,740
28,813 24,654 22,504
5,481
6,110
6,380
55
65
49
6,672
4,896
349
57,645
28,314
24,209
5,122
22
7,182
4,342
539
58,457
26,380
26,909
5,168
58
6,746
4,705
289
59,065
25,297
28,860
4,908
35
43,136
44,541
580
4,489
4,766
881
213.00
4,169
4,384
822
213.00
4,622
4,869
782
213.00
3,967
4,083
745
213.00
3,904
3,975
747
213.00
3,595
3,648
758
213.00
r
736
ll,801
r
6,587
783
771
399
761
764
412
726
860
482
696
771
445
651
741
432
32
31
24
12
29
26
15
29
30
13
25
28
12
24
27
12
Stocks end of period
do
Prices, steel scrap, No. 1 heavy melting:
Composite
$ per Ig. tonPittsburgh district
do....
Ore
Iron ore (operations in all U.S. districts):
ay.-
f f
m'r\
do
Imports
••• •• do....
U.S. and foreign ores and ore agglomerates:
Receipts at iron and steel plants
do
Consumption at iron and steel plants
do....
Exports
•
.. ..
do....
Stocks, total, end of period
do....
At furnace yards
do....
At U S docks
do
Manganese (mn. content), general imports
do....
Pig Iron and Iron Products
Pig iron:
Production (including production of ferroalloys)
thous. sh. tons.
q" k
H f
' d
Price, basic furnace
$ per sh. ton.
Castings, gray and ductile iron:
Orders, unfilled, for sale, end of period
thous. sh. tons.
Shipments, total
do...
For sale
do...
Castings, malleable iron:
Orders, unfilled, for sale, end of period
thous. sh. tons.
Shipments, total
do...
For sale
do...
See footnotes at end of tables.
73,570
75,051
859
206.00
dn
r
r
422
r
200
1
2
1
2
1,924
1,773
r
3,757
6,479
1,831
1,701
3,602
6,351
52.32
55.00
48.94
51.50
48.61
51.50
55.19
62.50
744
3,943
1,424
1,470
3,161
1,395
1,728
3,065
898
2,365
1,569
826
463
5,848
4,369
51
57,833
22,137
30,276
5,420
33
5,361
4,249
448
55,774
19,042
31,326
5,406
14
4,368
4,192
478
54,480
17,423
31,501
5,556
25
3,395
3,664
9,179
52,647
16,098
30,953
5,596
32
2,655
3,565
210
52,621
16,948
29,923
5,750
15
3,516
3,554
728
213.00
3,277
3,431
697
213.00
3,160
3,261
681
213.00
3,077
3,201
649
2,648
2,837
603
2,712
"2,883
"580
610
756
428
611
616
359
608
630
404
575
631
369
505
618
351
521
587
334
24
29
11
16
21
7
16
23
10
15
22
8
13
19
7
13
19
8
674
3,882
(2)
26,896
5,641
61
3,192
3,264
S-25
SURVEY OF CURRENT BUSINESS
March 1983
1981
Unless otherwise stated in footnotes below, data
through 1978 and descriptive notes are as shown
in the 1979 edition of BUSINESS STATISTICS
1982
Jan.
Annual
1983
1982
Feb.
Mar.
Apr.
May
June
July
Aug.
Oct.
Sept.
Nov.
Dec.
Jan.
Feb.
METALS AND MANUFACTURES—Continued
Steel, Raw and Semifinished
Steel (raw):
Production
thous. sh tons
Rate of capability utilization
percent
1
120,828
78.3
Steel castings:
Orders, unfilled, for sale, end of period
thous. sh. tons
Shipments, total
do..
For sale, total
do..
X
72,903
47.3
7,178
60.9
8,049
61.7
7,006
55.2
6,678
50.9
6,050
47.7
5,719
43.8
5,538
42.4
5,299
41.9
5,262
40.2
4,546
35.9
381
115
106
r
373
l,743
1,558
r
7,737
59.3
359
114
104
335
129
117
304
113
103
276
101
93
250
91
82
232
63
56
222
65
58
213
68
62
18
63
56
170
56
50
4,456
34.0
5,57
43.4
Steel MiU 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..
87,014
59,783
5,608
5,434
6,163
5,488
5,149
5,372
4,514
4,724
4,760
4,309
4,088
4,234
4,583
5,598
4,903
7,397
1,458
3,408
3,424
4,136
782
314
329
463
98
285
323
498
102
325
365
527
91
318
321
393
73
306
290
330
74
291
284
316
68
257
272
259
56
269
265
300
41
283
280
269
44
291
321
261
36
260
237
260
49
255
210
260
51
229
237
254
42
846
434
321
87
855
440
319
92
668
304
296
66
766
361
325
76
746
347
322
73
715
238
323
68
639
280
293
64
615
312
241
59
756
415
253
85
476
123
338
2,367
759
957
388
123
386
2,661
848
1,069
274
113
331
2,285
758
884
246
112
386
2,340
746
919
228
113
502
2,295
665
915
220
108
251
2,189
657
878
224
89
266
2,063
637
832
220
83
294
2,247
656
974
232
98
380
2,355
769
941
Bars and tool steel, total
Bars: Hot rolled (incl. light shapes)
Bars: Reinforcing
Bars: Cold finished
do..
do..
do..
. do ..
13,828
1
7,770
4,371
1,620
9,440
'4,857
3,526
1,013
912
525
271
112
821
506
205
105
1,015
573
320
117
865
470
298
93
Pipe and tubing
Wire and wire products
Tin mill products
Sheets and strip (incl. electrical), total
Sheets: Hot rolled
Sheets: Cold rolled
do .
do...
do...
do...
do...
do...
10,286
1,694
4,927
36,924
13,451
14,396
5,026
1,332
4,321
27,914
9,052
11,132
753
105
389
2,245
793
869
702
115
449
2,139
768
817
66^
133
400
2,645
953
1,030
602
125
328
2,462 .
828
1,005
By market (quarterly):
Service centers and distributors.....
Construction, incl. maintenance
Contractors' products
Automotive
Rail transportation
Machinery, industrial equip., tools
Containers, packaging, ship, materials
Other
do...
dodo...
do...
do—
do...
dodo...
17,637
rl
8,446
r
3,230
13,154
'2,162
'4,624
r
5,292
rl
32,469
12,972
6,260
2,290
^,295
1,030
2,582
4,471
'20,883
30.0
22.1
30.0
29.9
29.4
28.8
28.1
26.9
26.5
25.8
24.8
24.0
23.0
22.1
11.3
7.4
8.1
5.3
11.6
7.2
11.3
7.2
11.2
7.1
11.0
7.0
10.9
6.9
10.4
6.5
10.2
6.5
9.9
6.3
9.6
6.0
9.3
5.8
8.6
5.6
8.1
5.3
Steel mill shapes and forms, inventories, end of
period—total for the specified sectors:
mil. sh. tons.
Producing mills, inventory, end of period:
Steel in process
mil. sh. tons.
Finished steel
do...
Service centers (warehouses), inventory, end of
period
mil. sh. tonsConsumers (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
Plates, sheets, bars, etc
Exports:
Metal and alloys, crude
Plates, sheets, bars, etc
-.
do
do—
do....
do
Price, primary ingot, 99.5% minimum.... $ per lb..
Aluminum products:
Shipments:
Ingot and mill prod, (net ship.)
Mill products, total
Sheet and plate
Castings.
mil lb..
do—
do—
do—
Inventories, total (ingot, mill products, and
scrap), end of period
mil. lb..
Copper:
Production:
Mine, recoverable copper..... thous. met. tonsRefinery, primary
do—
From domestic ores
do—
From foreign ores
do—
Secondary, recovered
as refined
do—
Imports (general):
Refined, unrefined,
scrap (copper cont.)
doRefined
do—
Exports:
Refined and scrap
Refined
dodo-
Consumption, refined
(by mills, etc.)
thous. sh. tonsStocks, refined, end of period
doPrice, electrolytic (wirebars), dom., delivered
$ per lb..
See footnotes at end of tables.
3,429
1,684
592
2,367
411
960
1,260
6,500
3,213
1,651
598
2,791
277
689
1,115
5,676
3,099
1,568
548
2,311
183
491
1,252
4546
3,029
1,379
543
2,036
159
446
837
4,201
2
1,067
2
429
2
213
2
662
2
51
2
170
2
374
2
1,617
5.4
4.7
5.2
5.2
5.2
5.1
5.0
5.1
5.0
5.0
4.8
4.6
4.7
4.7
5.9
71.7
72.4
4.0
54.8
56.7
6.0
4.7
4.6
6.2
5.3
5.1
5.9
5.8
6.1
5.7
5.0
5.2
5.3
4.8
5.2
4.9
4.7
5.1
4.8
43
4.4
4.6
4.4
4.6
4.4
4.5
4.7
4.2
4.2
4.4
4.1
3.8
3.9
4.0
3.3
3.4
4,948
2,333
3,609
2,045
351
144
311
156
336
170
319
170
321
167
300
188
297
182
287
186
271
181
275
180
266
164
275
157
rl
710.7
rl
142.5
678.4
213.4
38.5
17.5
65.9
19.1
61.7
21.4
61.0
14.1
51.0
19.5
66.5
15.5
42.2
16.7
78.2
17.9
52.8
16.9
52.7
18.9
60.1
18.2
47.8
17.5
53.1
344.2
281.9
401.2
200.4
22.1
18,0
18.8
17.8
46.0
18.3
26.6
15.4
19.9
15.9
48.5
19.9
24.2
13.3
42.6
14.3
23.6
22.0
59.5
20.4
42.1
12.1
27.3
12.6
56.1
13.9
0.7600
0.7600
0.7600
0.7600
0.7600
0.7600
0.7600
0.7600
0.7600
0.7600
0.7600
0.7600
0.7600
0.7600
13,237
10,328
5,978
1,581
11,871
9,109
5,329
849
738
430
106
934
734
430
105
1,095
831
482
120
995
783
452
119
971
762
441
116
1,113
833
498
143
879
744
444
102
1,100
111
462
104
1,014
781
465
108
r
954
r
727
r
938
718
419
1,024
680
390
6,607
6,233
6,670
6,742
6,658
6,683
6,684
6,577
6,626
6,508
6,434
6,431
6,388
6,233
1,538.2
1,544.0
1,430.2
113.8
1,135.0
1,225.0
1,077.0
148.0
112.6
106.2
97.3
8.9
107.4
104.7
96.2
8.5
119.9
117.2
110.4
6.9
112.0
105.4
97.9
7.4
97.0
99.3
90.5
8.8
90.0
93.9
85.8
8.0
84.6
99.5
85.7
13.8
81.1
91.5
74.1
17.4
75.3
94.7
75.6
19.0
86.5
95.0
80.1
14.9
r
89.4
114.2
98.1
16.1
79.2
103.4
85.7
18.1
47.5
51.8
51.4
49.2
52.0
39.2
34.9
28.6
60.7
rl
rl
631.9
417
102
r
502.5
359.3
522.2
285.5
45.2
20.6
40.6
15.7
30.8
18.8
30.6
22.3
47.5
20.4
50.6
29.2
47.5
27.2
42.9
25.8
57.3
29.9
56.2
27.6
42.3
26.2
40.0
21.9
339.7
27.2
378.0
35.0
35.2
0.4
21.9
0.6
29.4
0.9
30.5
1.0
39.1
1.6
20.4
1.6
33.5
2.9
34.0
5.4
36.6
9.9
40.2
8.6
34.3
0.8
22.8
1.1
0.7241
0.7297
0.7423
2,045
511
0.8512
508
558
0.7431
0.7863
0.7878
0.7586
485
587
0.7627
0.7487
0.7149
407
592
0.7105
0.7100
0.7106
33.4
13.4
5,676
49.0
S-26
SURVEY OF CURRENT BUSINESS
Unless otherwise stated in footnotes below, data
through 1978 and descriptive notes are as shown
in the 1979 edition of BUSINESS STATISTICS
1981
1982
1982
Jan.
Annual
March 1983
Feb.
Mar.
Apr.
May
June
1983
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
METALS AND MANUFACTURES—Continued
NONFERROUS METALS AND
PRODUCTS— Continued
Copper-base mill and foundry products, shipments
(quarterly total):
Brass mill products
Copper wire mill products (copper cont.)
Brass and bronze foundry products
mil Ib
do....
do-
Lead:
Production:
Recovered from scrap (lead cont.)
do....
Imports (general), ore (lead cont.), metal
do....
492
575
90
634
107
515.9
528.8
445.5
641.1
rl
68.9
1,167.1
r
548
r
544
654
114
2,622
2,847
471
1
40.5
45.5
43.5
48.2
48.7
48.0
44.3
47.6
42.1
46.1
42.6
44.8
37.0
34.4
42.9
44.2
41.7
41.9
45.0
44.6
50.1
1,066.2
5.6
93.9
3.4
84.4
4.9
90.9
3.8
88.3
1.9
82.1
5.4
84.5
1.6
73.0
8.5
90.7
2.3
87.9
8.2
95.3
Stocks, end of period:
Producers', ore, base bullion, and in process
42.1
41.9
45.4
41.5
1.9
83.2
2.4
83.1
r
83.3
75.0
78.9
79.3
81.2
85.7
85.6
82.1
79.2
79.0
75.1
76.6
75.9
75.0
79.5
r
!23.2
74.1
77.4
68.3
92.0
70.0
88.4
73.4
85.2
65.5
87.2
61.7
81.7
69.0
88.3
66.6
84.2
61.7
83.5
66.6
84.2
69.0
79.4
73.6
77.4
74.1
77.4
41.7
0.3653
33.5
0.2554
41.7
0.2967
36.8
0.2870
35.1
0.2764
34.5
0.2606
32.7
0.2609
36.1
0.2476
39.3
0.2718
34.8
0.2582
31.6
0.2532
30.6
0.2319
37.1
0.2161
33.5
0.2047
232
45,873
15,010
1705
rl
54,373
rl
40,229
1,961
27,940
72
1,089
1,150
95
3,300
2,500
162
2,742
1,135
120
3,750
2,800
149
3,145
1,005
150
5,100
3,600
0
2,966
1,065
140
5,000
3,600
156
2,055
1,025
140
5,100
3,700
93
2,450
1,000
155
4,900
3,600
186
2,742
940
145
4,700
3,400
194
1,697
996
121
4,700
3,400
289
2,409
1,019
164
4,600
3,300
88
2,233
1,008
192
4,500
3,200
277
2,100
53,450
38,700
295
2,312
1,025
85
3,400
2,500
$ per Ib..
5,989
5,988
7.3305
9,777
3,242
6.5392
4,748
3,872
7.7590
1,610
3,490
7.4519
441
3,829
6.6917
454
5,222
6.5600
261
4,953
6.6284
662
4,653
6.0826
375
3,888
6.1255
305
2,910
6.2549
175
2,940
6.3904
249
2,770
6.2475
241
3,437
6.1347
256
3,242
6.1434
thous. met. tons..
312.4
'SOS.l
24.2
24.7
25.3
23.4
25.6
27.0
21.3
27.4
25.7
27.8
25.9
23.3
4.9
39.8
0.7
27.8
2.8
26.2
3.9
34.9
9.1
49.1
2.3
61.5
3.6
41.0
Refiners' (primary), refined and antimonial
(lead content)
thous met tons
Scrap (lead-base, purchased), all smelters
(gross weight)
thous. met. tons..
Tin:
Imports (for consumption):
Ore (tin content)
metric tons
Metal, unwrought, unalloyed
do....
Recovery from scrap, total (tin cont.)
do....
P
t'
P
q, P,
m
'.
t t 1
,.
,
do
A
rt (m tal)
J
f
P. IN
n
do
-OJ
Price, Straits quality (delivered)
Zinc:
Mine prod., recoverable zinc
Imports (general):
Ores (zinc content)
Metal (slab blocks)
Jo
do
thous met tons
Kxports
Stocks, end of period:
Producers' at smelter (ABMS)
P '
Pri
W t rn
do
do....
$ oer Ib
173
3,434
4,400
3,100
368
3.7
35.9
117.7
602.6
49.3
413.4
3.2
2.0
6.1
33.0
6.3
36.2
2.4
26.4
4.0
35.3
rl
60.6
288.7
53.1
208.9
4.6
17.1
4.2
16.8
4.7
18.2
6.8
18.0
6.2
17.7
3.9
17.3
3.1
17.3
2.6
17.5
3.6
17.9
4.0
17.6
4.7
17.1
4.7
16.8
254.3
697.4
0.3
24.2
55.1
()
21.6
55.3
C
0.1
21.4
60.0
()
19.3
57.8
()
21.5
58.8
C
0.1
21.5
65.8
()
18.7
56.3
0.
20.4
60.7
()
61.4
61.4
()
24.8
60.8
()
18.7
53.7
()
18.1
50.8
()
18.2
34.6
44.7
0.4455
24.6
62.0
0.3847
36.7
70.1
0.4217
41.2
67.0
0.4272
41.8
65.7
0.3923
39,9
60.0
0.3550
35.3
60.8
0.3467
27.9
57.7
0.3460
20.5
62.0
0.3566
14.9
57.7
0.3779
15.9
56.1
0.3964
19.9
56.0
0.4083
21.5
62.2
0.4039
24.6
62.0
0.3846
21.9
470.0
106.9
225.4
'296.9
65.4
128.2
do....
do
Consumption (recoverable zinc content):
Ores
Slab zinc: @
Production total $
2.1
rl
rl
393.0
rl
834.2
0.3
X
2
2
2
2
2
2
2
r
2
2
MACHINERY AND EQUIPMENT
Heating, combustion, atmosphere equipment, new
Electric processing heating equipment
do. . . .
Material handling equipment (industrial):
Industrial trucks (electric), shipments:
Hand (motorized)
382.0
nUm
do
Industrial trucks and tractors (internal combustion
Industrial supplies, machinery and equipment:
New orders index, seas, adjusted
1977=100.
Industrial suppliers distribution: t
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
Domestic
Metal forming type tools:
Orders new (net) total
Domestic
Shipments total
Domestic
See footnotes at end of tables.
60.6
9.6
25.9
53.8
18.1
14 4
73.3
175
269
1137
202
61 0
mil. $.
do...
do...
do...
do
do...
do...
323.0
428.0
262.3
273.0
221.4
241.2
235.1
209.5
266.0
188.4
206.0
18,734
19784
1,250
1,447
1,398
1,452
1,665
1,828
1,216
1,386
1,228
1,402
1,558
1,567
787
931
1,207
1,042
1,160
1,312
1,220
1,113
1,299
1,379
31,885
2,277
2,053
2,430
1,658
1,587
2,216
824
1,265
1,484
1,312
1,447
114.2
110.2
104.8
97.3
91.1
90.9
88.3
90.8
92.1
87.8
84.1
83.6
134.4
123.5
121.3
120.0
119.1
115.9
109.8
106.8
100.7
103.5
148.1
94.6
142.3
120.9
135.2
130.9
133.3
144.3
153.1
150.2
151.6
152.6
152.9
153.7
153.8
154.0
153.8
154.0
153.7
153.5
153.7
153.9
279
249
208
202
263
252
255
245
246
225
233
215
218
194
232
194
191
195
198
186
178
191
170
172
166
184
143
174
169
182
2,228.10
1,945.80
4,104.50
3,552.45
2,873.3
1,064.45
889.60
2,894.75
2,598.60
1,043.0
155.95 123.15
124.90 113.30
307.15 293.15
284.50 273.75
2,722.1 2,552.1
105.75
90.20
332.75
303.05
2,325.1
115.10
107.55
239.45
214.60
2,200.8
68.00
53.75
246.60
224.15
2,022.2
91.65
55.15
324.60
296.55
1,789.2
70.40
57.55
203.55
173.75
1,656.0
60.45
49.25
212.50
184.30
1,504.0
52.60
47.20
224.40
192.65
1,332.2
72.85
59.10
150.60
132.30
1,254.4
62.75
47.45
155.70
134.80
1,161.5
716.75
616.85
991.10
824.20
433.30
371.75
709.65
599.75
40.65
35.90
66.45
57.50
32.05
26.75
78.30
73.15
37.70
29.95
60.00
56.30
37.95
27.40
49.25
44.90
34.25
29.25
84.55
75.35
36.15
30.40
46.80
40.65
26.05
22.70
44.70
38.90
34.30
30.20
51.45
45.95
46.35
42.55
50.10
42.25
25.45
21.90
37.80
33.70
49.25
41.25
76.40
49.60
P
85.80 P57.55
51.95
84.20
204.30 "108.25
184.20 "94.45
1,043.0 "992.3
35.15
33.50
59.85
41.50
'34.00
P
28.15
"44.80
P
37.60
S-27
SURVEY OF CURRENT BUSINESS
March 1983
1981
Unless otherwise stated in footnotes below, data
through 1978 and descriptive notes are as shown
in the 1979 edition of BUSINESS STATISTICS
Annual
1983
1982
1982
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Oct.
Sept.
Nov.
Dec.
Jan.
Feb.
METALS AND MANUFACTURES—Continued
MACHINERY AND
EQUIPMENT—Continued
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. $..
15,789
1 569.9
4,309
4109
2390
2644
2,589
2727
33369
1 605.5
6218
3008
7432
2990
28067
754.2
25754
737.7
20845
583.0
3
336
3
10 533
3
250.9
8
6386
3
5468
2637
141 170
3,479.3
3
699
3
2 110
2596
547
582
705
3
194
1976
ELECTRICAL EQUIPMENT
r
Batteries (auto.-type replacement), ship
thous..
53,598
54,214
4,897
4,269
Radio sets production total market
Television sets (incl. combination models),
production total market
thous
31476
31782
2012
1671
thous
18480
16405
1208
30,482
3,692
2,484
r
3 179
r
2 328
4944
r
!605
4365
2977
7,785
26,683
2,761
2,170
2781
2035
4364
1340
4019
2728
7,536
1,915
191
1,417
1496
2,785
1,156
1368
3,042
80
99
239
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....
r
3,839
3584
1609
2 460
1 344 21499
1 375
1 292
2,177
361
169
220
149
277
92
306
228
3,611
2,452
517
160
214
143
324
99
347
234
2
1816
2,650
572
151
272
161
343
117
383
253
201
175
169
379
107
345
214
1,911
2,232
419
169
200
150
359
112
322
195
3640
23 179
3,629
4750
2284
4052
2
1 177
1 420
2,196
145
2,257
61
1 710
2,341
289
160
207
293
437
161
352
214
1,677
187
199
166
456
151
323
196
203
219
170
432
156
364
244
5,660
5,237
3490
3 221
1 619
1 106
1 161
2,097
17
2,350
31
2,117
71
5,819
23 624
2
167
241
168
381
109
360
245
218
339
202
401
80
347
261
2136
206
260
195
310
80
319
251
5280
22364
3708
2
1 229
1 151
1,892
84
2,179
89
178
238
17K
262
73
252
193
1 298
213
264
190
363
103
364
260
1812
GAS EQUIPMENT (RESIDENTIAL)
Furnaces, gravity and forced-air, shipments.... thous..
Ranges, total, sales
do....
Water heaters (storage), automatic, sales @
do....
69
107
268
77
135
305
70
110
295
69
113
246
85
123
248
78
96
230
96
99
225
126
133
232
140
113
260
127
114
236
r
!38
126
257
126
107
275
PETROLEUM, COAL, AND PRODUCTS
COAL
Anthracite:
Production
Exports
Price wholesale *
thous. sh. tons.
do
Index 1967—100
5423
2249
582 2
4225
Bituminous:
Production t
thous. sh. tonsConsumption, total
do....
Electric power utilities
do....
Industrial, total
do....
Coke plants (oven and beehive)
do....
818,352
819,775
728,543
595,575
127,527
60,888
.
Residential and commercial
do....
Stocks, end of period, total
Electric power utilities
Industrial, total
Oven-coke plants
Exports
Price, wholesale
do....
do....
do....
do....
980
179,607
163,356
16,251
6,446
do
Index, 1967=100..
110 243
493.7
thous. sh. tonsdo....
42,786
28,296
do....
do....
do....
do..
do
381
44
643 7
459
84
645 5
274
79
329
41
648 1
639 0
319
45
637 5
313
106
387
121
347
107
370
86
340
77
637 5
637 4
637 4
£07 A
coo f\
CQQ (\
60 158
65,720
69621
82209
72432
69933
70508
59 145
71 368
66 480
68 836
63 365
68,842
57,195
10,847
4,437
59461
48,795
10149
4,334
57965
47,811
9761
4,165
53017
43,403
9041
3,704
54585
45523
8713
3,616
55730
47330
8 121
3,476
63629
55206
7933
3,118
63 192
54660
8002
3,056
56506
48332
7 665
2,922
46248
517
393
573
349
279
490
530
353
43
5
cqo f\
(• or Q
4 465
528 1
530 4
2 381
720 1
693 3
47699
800
5,440
1
353
147
643 7
509
168,274 167,676 173,574 180,807 187,248 192,664 184,237 184,429 183,872
152,935 152 735 159 030 165 848 171 892 176 911 168 844 169 403 169 216 173 879 175 811
15,339 14,941 14,544 14959 15'356 15753 15393 15?026 14656
6 153
6 518
6181
5887
5594
5914
6216
5 422
5 788
105 244
6029
8 918 10 335 10 742 10057 10 626
9 071
8 603 r 9 850
7 293
7 700
520.6
525.3
5250
5279
5339
5296
5293
5344
5349
533 9
5362
6,724
6,320
6 020
536 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
403
900
1 251
29,872
2,420
2,207
8,828
2551
2428
2533
7455
7015
1344
1 109
2672
2564
7871
7489
894
105
440
939
97
959
37
963
154
3036
7703
3 750
7448
3683
7179
3254
3617
3530
829
48
7507
2397
6270
2433
2 452
2 543
2 670
1 168
1 339
1 344
7 969
7639
382
330
1 091
1 171
175
129
61
3459
717 8
3 899
718 2
3 286
718 4
2 848
718 4
3 360
718 3
3789
388 4
399 8
380 3
376 3
1 088
1 244
CO
fiK
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 capacityAll oils, supply, demand, and stocks: $
New supply, total H
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,—)
Demand, total
Exports:
Crude petroleum
Refined products
See footnotes at end of tables.
37 684
8035
40329
4,656.5
4,447.0
69
70
2798
7872
372.9
66
r
65
65
66
68
74
75
72
74
2 838
735 3
3 282
734 1
4 090
720 4
376 7
364 7
368 9
r
71
71
70
5,905.7
5 591.6
4802
4186
4549
4375
465 2
464 1
495 7
479 2
470 0
480 9
483 1
462 2
3,124.6
597.9
3,165.0
586.4
268.7
49.2
2433
44.0
2665
50.1
2596
49.3
2685
48.4
260 4
46.8
268 1
49.0
269 7
49.6
2620
47.2
2690
49.8
260 7
50.6
268 5
52.3
1,642.8
540.4
1,327.1
513 1
118.6
86.9
92.7
88.0
40 6
107.3
41 0
117.6
39 2
136.9
41 8
123.7
36 1
114.3
46 5
119.0
43 1
122.6
49 2
99.4
42 0
436
444
456
do....
68.3
-59.6
-27.7
-29.5
-30.5
-51.0
-0.5
12.9
31.6
13.5
7.1
19.2
214
-262
do....
6 057.2
5 865.2
5183
4689
5097
5050
485 1
4690
480 9
486 6
471 3
4883
474 5
507 4
do....
do....
83.2
133.9
86.3
211.2
74
85
100
18.3
14.0
17.4
52
81
16^8
28
18.3
71
15.9
94
55
84
17.2
18.2
20.5
79
15.7
60
20.7
18.3
9 ftQQ
S-28
SURVEY OF CURRENT BUSINESS
Unless otherwise stated in footnotes below, data
through 1978 and descriptive notes are as shown
in the 1979 edition of BUSINESS STATISTICS
1982
1981
Annual
March 1983
1982
Jan.
Feb.
Mar.
Apr.
May
June
1983
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
PETROLEUM, COAL, AND PRODUCTS—Continued
PETROLEUM AND PRODUCTS-Continued
All oils, supply, demand, and stocks $—Continued
Domestic product demand total $
do
Gasoline
.
.
.... do....
Kerosene
do
Distillate fuel oil
do....
Residual fuel oil
do
Jet fuel
do
Lubricants
...
.... do....
Asphalt
do
Stocks, end of period, total
do....
Strategic petroleum reserve
Unfinished oils, natural gasoline, etc
do
do....
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): ff
Unleaded *
Aviation gasoline:
Production
2,350.8
205.8
2,325.4
196.7
H f
' ' H
m- if
H f" ' H
Price, wholesale
Jet fuel:
H
Index, 1967=100..
194.6
194.3
188.9
191.9
203.1
196.7
617.2
611.0
600.7
192.3
216.8
166.3
216.1
186.8
201.5
183.7
182.0
196.8
176.2
203.9
180.2
211.3
185.3
201.0
187.2
196.6
193.5
642.3
621.1
578.6
555.7
582.7
628.8
636.3
628.4
r
578.8
553.5
974.1
958.0
o
11.5
2.7
8.9
2.3
0.6
2.7
0.6
2.7
0.7
2.6
0.5
2.4
0.9
2.5
0.9
2.4
0.9
2.4
1.1
2.4
0.7
2.2
0.8
2.2
0.7
2.5
0.4
2.3
43.6
11.1
42.0
10.4
4.4
9.6
4.3
9.1
3.3
8.8
3.6
9.6
2.4
8.9
2.7
9.2
2.7
9.1
2.6
9.5
3.4
9.8
4.0
10.2
4.3
11.3
4.4
10.4
1,044.3 1,034.3
954.9
61.0
190.2
953.4
33.8
178.6
1,058.1
480.3
290.6
78.3
1,239.0
388.6
276.7
66.2
1,027.9
1,009.1
975.9
974.2
984.4
983.0
976.3
'969.7
984.6
991.1
81.1
3.0
166.0
68.5
3.6
146.7
71.1
1.5
127.7
70.7
1.8
108.8
81.2
2.3
114.5
81.9
3.0
124.6
84.8
3.8
148.2
78.3
2.4
158.9
79.7
1.8
161.2
88.0
3.0
170.2
85.9
4.2
185.6
82.3
3.4
178.6
1,067.8
1,039.8
do
Price, wholesale (middle distillate)
Index, 1967-100..
Residual fuel oil:
Production....:
mil. bbl..
480.8
203.6
5.8
88.5
49.7
32.6
3.5
5.6
52.8
1,428.9
641.6
293.8
158.0
629.3
(i)
H
Ic
447.6
450.9
460.2
457.9
459.4
482.3
481.4
447.9
460.0
492.6
446.4
198.9
197.2
207.0
211.7
196.2
205.8
205.4
207.4
184.2
170.5
207.5
4.2
3.0
3.2
4.1
3.6
3.2
2.5
2.4
6.4
5.0
3.4
80.2
74.2
64.6
69.1
75.4
105.7
75.8
73.5
89.2
89.3
89.9
44.2
45.4
47.9
45.4
47.7
45.1
66.6
59.3
56.0
48.1
63.3
29.8
31.4
30.6
31.0
31.2
30.2
29.7
30.3
29.6
31.2
30.0
4.5
4.8
4.3
4.1
4.2
4.2
4.1
4.5
3.9
4.2
4.6
15.2
8.9
16.7
15.4
18.2
10.5
14.3
2.9
5.2
7.1
4.3
45.9
49.0
45.8
42.1
44.4
46.1
38.6
47.6
47.4
45.8
58.1
1,460.9 1,431.4 1,400.9 1,349.9 1,349.4 1,362.3 1,393.9 1,407.4 1,414.5 1,433.7 1,455.2
646.0
617.8
635.3
611.7
625.4
609.5
606.9
614.2
611.0
606.2
612.2
290.0
277.9
284.6
261.0
267.2
273.6
264.1
248.5
255.5
235.3
241.2
165.3
173.9
167.6
171.9
176.4
174.5
174.1
181.5
183.5
178.4
184.0
643.9
630.9
622.8
605.8
610.1
565.4
581.2
560.4
673.3
635.2
603.1
651.7
666.0
do
-H-
m-
5,567.6
2,395.6
46.8
975.5
618.4
367.7
50.9
124.5
563.5
1,428.9
641.6
293.8
158.0
629.3
mil bbl
Kerosene:
„ ,
, '";.'" . ","
,
Price, wholesale (light distillate)
Index 1967-100
Distillate fuel oil:
T
5,840.2
2,414.9
46.2
1,032.8
752.5
368.6
56.0
124.8
542.2
1,488.5
598.8
230.3
176.8
712.9
1,058.2
1,029.3
953.6
928.7
974.6 1,024.0
1,022.2
998.8
999.2 1,040.6
1,053.6
984.4
926.5
36.7
31.8
25.4
26.0
68.2
58.1
1,219.8 1,177.6
34.7
28.2
57.3
1,163.0
34.9
22.9
53.6
1,182.7
31.9
34.9
32.3
17.8
22.9
19.3
59.0
59.1
60.5
1,191.6 1,229.5 1,237.1
31.2
16.1
52.8
1,250.0
30.7
29.7
29.6
30.2
23.2
25.3
23.5
26.1
66.2
66.4
61.8 r 63.6
1,120.7 l,129.0 1,152.8 1,121.0
1,126.7
1,104.5
r
Stocks end of period
Lubricants:
do
353.5
40.5
356.5
36.8
27.8
37.2
28.0
37.0
34.7
42.5
30.3
44.1
27.9
41.8
27.9
40.1
29.9
39.8
30.4
40.8
29.3
39.7
30.4
40.9
30.5
40.5
29.4
36.8
Stocks end of period
Asphalt:
do
60.6
14.2
51.6
12.5
4.3
14.4
4.1
14.3
4.3
13.7
4.5
13.4
4.6
13.5
4.6
13.4
4.6
13.5
4.4
13.4
3.9
12.7
4.4
12.6
4.4
12.6
3.6
12.5
H
124.2
19.5
119.6
15.9
6.5
23.1
5.4
24.3
7.0
26.1
8.0
27.1
10.5
27.1
12.4
25.6
13.1
22.1
13.3
17.4
12.4
14.6
13.6
13.1
9.7
14.1
7.5
15.9
do....
do
do....
583.4
467.9
115.6
137.0
572.9
473.9
99.0
95.1
47.9
40.3
7.6
122.2
41.3
34.8
6.6
113.5
47.2
39.2
8.0
109.0
47.0
39.1
7.8
105.8
49.1
40.4
8.7
107.7
47.1
38.3
8.8
110.9
48.2
38.9
9.3
111.1
49.3
40.5
8.9
112.5
48.2
38.9
9.3
111.5
49.0
41.0
8.0
108.6
48.1
40.3
7.8
103.5
50.4
42.0
8.4
95.1
279
60
219
350
17
333
298
52
246
541
8
533
237
50
186
303
18
285
247
55
192
375
18
357
285
51
234
264
8
256
Q,
i
H f
' H
Liquefied gases (incl. ethane and ethylene):
At gas processing plants (L.P.G.)
At refineries (L R G )
Stocks (at plants and refineries)
PULP, PAPER, AND PAPER PRODUCTS
PULPWOOD AND WASTE PAPER
Pulpwood:
Receipts
thous cords (128 cu ft )
St
k
d of npriod
do
Waste paper:
0,
1
•
3
" J
f
•
J
J
WOODPULP
Production:
Total all grades #
Sulfate
Sulfite
gf
' 1?
N
thous sh. tons..
do
do
'
1
d
Stocks, end of period:
Total all mills
P
379 547
3
79 604 .
6045
ri
Hh
'11
Dissolving and special alpha
All other
See footnotes at end of tables.
do
do....
(2)
(2)
51 783
1 366
39 597
1812
5 038
3940
(2)
(S
2
(2)
(2)
(2)
1 198
690
454
54
do
do
do....
do....
H
3
do
Exports all grades total
Dissolving and special alpha
All other
(2)
13 523
993
do
'11
(2)
(2)
(2)
(*)
(>)
3
3
3
3
3678
784
2,894
3
4086
201
3
3,885
3 395
631
2,763
3
3894
162
3
3,732
221
50
172
270
26
244
303
42
261
310
9
301
319
62
257
296
10
286
316
52
264
306
22
284
326
69
257
302
8
294
302
55
247
287
12
275
261
32
229
289
6
283
234
59
174
309
23
286
S-29
SURVEY OF CURRENT BUSINESS
March 1983
Unless otherwise stated in footnotes below, data
through 1978 and descriptive notes are as shown
in the 1979 edition of BUSINESS STATISTICS
1981
Annual
1983
1982
1982
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
PULP, PAPER, AND PAPER PRODUCTS—Continued
PAPER AND PAPER PRODUCTS
Paper and board:
Production (Bu. of the Census):
All grades total unadjusted
thous sh tons
Paper
,. ,,
,
,. do..
Paperboard
do
Wet-machine board
...
do.,..
Construction paper and board
do
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
,
,,.
do
,,...,,...,,.. do. .
Unbleached kraft packaging and industrial
converting papers:
Shipments
thous sh tons
Tissue paper, production
,
do. .
Newsprint:
Canada:
Production
,.,,,..„ ,
thous. metric tons..
Shipments from mills
,
,.,.. do....
Stocks at mills, end of period...............
do....
United States:
Production ...
do
Shipments from mills . ' . , . , . ... ,,
do
Stocks at mills, end of period
do....
Consumption by publishers fl ,
do....
Stocks at and in transit to publishers, end of
Imports..,
. ... thous sh tons
Price, rolls, contract, f.o.b. mill, freight allowed
or delivered
Index, 1967=100..
Paper products:
Shipping containers, corrugated and solid fiber
shipments.
,
mil. sq. ft. surf. area..
(5)
(s)
66439
30,669
31561
160
3846
(5)
(5)
(5)
2581
231.7
254.9
239.4
2597
233.8
2614
2314
261 1
239.6
2612
236.3
2588
240.2
2559
240.0
255.0
239.8
1449
100
1463
4447
113
89
110
112
95
108
123
98
126
140
104
123
116
102
115
113
99
118
138
117
121
1446
255.4
244.4
250.7
243.4
2480
241.5
247.6
240.4
113
100
124
125
104
121
131
99
139
121
93
126
r
r
430
r
427
r
626
r
682
714
274
374
325
390
599
r
*4853
360
4940
*4 955
5031
397
343
404
411
361
389
407
332
437
408
336
409
381
307
408
432
306
431
399
312
400
443
307
443
407
285
433
446
282
447
413
272
433
X
*7760
1
8 187
628
676
612
658
713
745
641
689
621
669
645
670
610
628
674
705
640
684
684
716
652
695
13 657
311
355
324
365
343
406
288
356
272
365
291
358
271
339
326
383
296
359
743
718
357
r
610
r
r
614
r
r
598
r
7735
*8,234
rl
3 873
4 518
M438
8,946
8,915
194
8 117
8,074
250
r
r
670
r
r
r
696
r
r
742
r
r
705
r
4753
4735
38
4 574
4525
86
10,107
415
406
46
790
378
376
48
775
420
413
55
868
396
374
76
863
385
376
86
879
383
381
89
804
363
351
101
767
854
6531
981
585
1 038
524
1 068
608
1 045
503
1 012
620
1 003
570
X
10,165
961
6977
r3
308.0
246,152
3
781
305
717
325
760
343
694
332
r
652
399
2445
241.4
l!0
91
112
410
283
398
649
r
r
r
r
r
r
315
387
327
383
243.6
240.5
2440
240.8
121
114
557
601
403
r
684
r
r
691
r
r
744
r
250
685
604
331
372
363
110
r
805
353
353
110
835
406
398
118
927
373
389
102
r
892
330
346
86
902
403
370
119
825
992
460
952
520
898
489
861
587
832
567
854
498
803
545
617
402
642
446
r
698
417
657
395
r
316.2
316.8
318.1
318.1
321.1
322.4
319.4
318.4
318.4
318.4
318.4
303.7
300.7
300.7
234,846
18,896
18,638
21,218
19,941
18,720
20,071
18,610
20,414
20,657
21,064
19,043
17,540
19,980
48 06
11527
54.35
0.468
58 08
10571
40.60
0.445
53 61
11056
54.36
0.426
51 79
11365
51.37
0.421
45 17
123 25
49.45
0.418
33.01
0.440
108 11
129 75
305 98
20 47
10379
141 45
13,585
15325
2 652
12,337
336
299.1
Folding paper boxes, shipments.... thous. sh. tonsmil. $..
RUBBER AND RUBBER PRODUCTS
RUBBER
Natural rubber:
Consumption
,.
thous. metric tons..
Stocks, end of period
...,,...
do....
634.67
142.43
Imports, incl. latex and guayule ....thous. Ig. tons662.41
4
Price, wholesale, smoked sheets (N.Y.).... $ per lb..
0.576
Synthetic rubber:
Production
,,...
thous. metric tons.. 2,021.45
Consumption
.
..
do
1 889 71
Stocks, end of period
do....
349.02
Exports (Bu. of Census)
„.,., thous. Ig. tons..
334.63
TIRES AND TUBES
Pneumatic casings, automotive:
Production
,
,.,
thous.. 181,762
Shipments, total.
„....,„
do.... 201,105
41,711
Original equipment
„
do....
Replacement equipment
do.,.. 153,716
Exports
... . .
.,
...
do .
5678
Stocks, end of period
,
,
do..,.
40,863
Exports (Bu. of Census)
do....
11,088
Inner tubes, automotive:
3,428
Exports (Bu. of Census)
do..,.
See footnotes at end of tables.
61700
123.25
618.27
5459
138.36
50.99
5164
138.02
59.33
5356
134.39
45.71
54 40
6700
53.86
4869
12626
56.19
0.453
0.488
0.465
0.470
0.453
0.453
5373
12188
63.39
0.461
1,632.20 140.49
1 624 80 14309
145.76
13894
170.32
149 88
154.86
13463
155.44
133 07
139.71
132 19
375.59
24 73
267.42
284.62
340.36
27.76
34043
2346
356.30
31 18
376.91
2653
178,500
201,236
38,633
158,688
3915
39,955
5,971
14,866
14,144
2478
11,365
301
42,904
385
15,387
13704
2769
10,573
362
46254
461
17,051
17312
3697
13,216
399
47817
614
15,077
17,676
3679
13,652
345
46 583
454
1,924
141
151
254
174
48 16
6206
38.67
0.465
124.91
135 22
37470
25 23
117.46
106 50
35791
2040
127.19
151 80
34548
2204
31025
2283
135 18
118 42
32759
21 13
14,856
18 216
3970
13,989
257
45337
463
15,669
19428
4 074
15,018
336
43 475
653
12,293
16421
3038
13,199
264
40763
381
14,835
17700
2817
14,625
258
40 192
454
15,528
18938
3 022
15,583
333
38 685
385
15,381
17 851
2919
14,605
327
38 116
489
38 436
377
102
178
195
162
201
192
162
267 42
18 86
20 24
13,972
14 521
3*518
10^606
397
39955
474
308
113
174
0.485
S-30
SURVEY OF CURRENT BUSINESS
Unless otherwise stated in footnotes below, data
through 1978 and descriptive notes are as shown
in the 1979 edition of BUSINESS STATISTICS
1981
1982
Annual
March 1983
1982
Jan.
Mar.
Feb.
Apr.
June
May
1983
Aug.
July
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
35351
34,106
27431
22718
18,931
444 6
43
375
4358
36
36.6
3975
24
28.5
3340
2.9
18.6
O
(7)
O
(7)
STONE, CLAY, AND GLASS PRODUCTS
PORTLAND CEMENT
Shipments, finished cement ,
thous. bbl.. '382,692 *343 463
CLAY CONSTRUCTION PRODUCTS
Shipments:
Brick, unglazed (common and face)
r
5 059 2 4407 5
'716
409
Structural tile except facing
thous sh tons
r
Sewer pipe and fittings vitrified
,,
do
4334
3250
Facing tile (hollow), glazed and unglazed
r
8
393
113
mil brick equivalent
Floor and wall tile and accessories, glazed and
r
2948
299 8
Price index, brick (common), f.o.b. plant or N.Y.
3002
dock
1967 100
GLASS AND GLASS PRODUCTS
952 283 871 331
Glass containers:
321 373 309 376
319 022 5307 231
Shi m nts domestic total ±
do
Narrow-neck containers:
31 160
28 728
Food
do
60248
61 020
115 680 104 483
Beer
do
24 003
22266
Wide-mouth containers:
63 372
62404
Narrow-neck and wide-mouth containers:
22315
25 119
ie
a. a
to e . .... ............ ...
2 615
2 840
emica ouseo an in us na
o....
15 149
17755
25,729
28213
30,984
35,388
34,527
35,957
176 7
32
149
213 7
27
134
345 1
35
23.3
370 9
26
25.9
3984
37
29.0
4392
4.8
31.0
426 2
38
31.6
4255
35
348
18
16
2.5
30
24
(7)
(7)
O
207
3038
207
3042
270
304.2
257
308.4
309.5
310.0
234
310.9
266
319.0
219,074
194 972
5
26.1
234
r
r
25.9
24.9
23.8
319.2
322.1
322.1
266
319.2
r
322.3
236,813
220 472
r
23,364
22,888
17,950
21,013
2,483
4888
8,122
2,165
r
2,086
r
4482
r
7,599
r
1,993
4,417
6,747
1,686
r
4,965
4,547
1,647
172
48,718
1,457
166
45,634
24442
24 731
26095
23307
29204
27448
26673
26259
27,293
26,774
27934
28,991
25982
25165
28,009
28,184
24,714
26,515
27,716
25,956
2517
3 ggg
8559
2097
2208
4 103
8462
1541
2579
5299
9503
1,947
2,488
5 156
9509
1,865
2,520
5699
9695
1,852
2,834
6326
10,254
1,943
2598
5732
8661
1607
3,489
6029
9 111
1,777
3,365
5 193
8,261
1,849
5491
4906
5764
4989
4978
5417
4832
5752
5840
2,095
261
50405
1982
270
51009
1,848
182
51433
2019
198
49982
1542
193
50532
1767
259
50244
1,790
217
52988
2,177
230
49,467
l,937
5,891
2 116
255
r
46 683
GYPSUM AND PRODUCTS @
Production:
Crude gypsum (exc. byproduct) .... thous. sh. tons..
Calcined
do
Imports crude gypsum
.
do
Sales of gypsum products:
Uncalcined
. ........... do,.
Calcined:
Industrial plasters
.. do
Building plasters:
Regular basecoat
do
All other (incl. Keene's cement)
do...
Board products total
mil. sq. ft.
Lath
.. do..
Veneer base..
.
do...
Gypsum sheathing
do
Regular gypsum board
.
..,...,.. do
Type X gypsum board
do
Predecorated wallboard
do.
5/16 mobile home board
do...
322.3
45 634
46462
1875
212
49124
11,497
11687
7,593
10,863
10967
6,718
784
872
375
844
688
397
820
919
405
886
971
218
855
809
531
949
965
772
912
923
469
1,009
945
728
971
733
1,044
1,036
724
898
945
625
895
923
742
925
986
401
4,904
'4,528
308
294
277
327
401
421
384
394
445
411
342
488
283
'430
25
26
30
40
39
38
34
37
37
40
34
31
31
16
10
965
4
22
15
633
259
10
23
17
9
876
3
18
15
564
236
9
31
21
13
1,087
4
25
18
704
286
11
39
16
7
1,100
3
24
20
716
286
10
41
14
6
971
3
20
20
618
262
9
38
16
8
1,120
4
26
25
716
299
11
40
16
7
1,098
3
24
22
702
298
10
38
15
8
1,169
4
26
23
749
315
11
42
(6)8
23
1,140
3
23
25
733
303
10
42
(6)6
21
1,216
3
25
27
774
330
10
47
(6)8
21
1,134
3
25
28
741
293
10
35
(s)6
20
1,218
3
28
27
801
319
9
31
(")9
21
1,132
3
23
26
718
301
9
52
531
196
335
692
293
400
554
254
300
3
663
3
259
3
366
133
233
662
282
380
485
182
302
525
200
325
673
285
389
439
178
261
3
661
3
259
3
534
201
334
668
278
390
'450
195
255
526
193
334
664
271
393
420
186
234
3
570
3
207
3
40
453
5,290
8,826
3
390
10,580
12,019
r3
425
404
15,033
15,031
4,209
10,190
632
14,232
14,229
2,433
11,101
695
13,449
13,446
1,597
11,080
769
370
225
157
13,759
59
325
208
9,295
3446
122
4
304
(«)
8
264
13,093
39
286
264
8,447
3486
119
453
r
TEXTILE PRODUCTS
FABRIC
Woven fabric, finishing plants: *
Cotton
do
Inventories held at end of period
Cotton
Manmade fiber and silk fiber
^C H
M n
ade and silk
fiber
do....
do
do....
COTTON
Cotton (excluding linters):
Production:
Ginnings
fi
thous running 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....
See footnotes at end of tables.
6,656
2,465
4,192
637
257
380
2
15,150
2
15,646
5,409
11,301
12,019
4,938
13,777
13,776
3,752
9,268
7Rfi
14,232 12,567
14,229 12,566
2,257
2,433
11,101
9,488
fi9K
891
d
do
550
196
354
742
312
430
575
255
320
3
695
3
255
3
398
3
495
172
323
725
284
441
580
249
330
7,514
2,652
4,962
686
273
413
378
r
11,424
11,422
1,810
8,729
883
440
729
314
414
585
269
317
540
194
346
722
306
416
592
264
328
493
410
392
10,060
10,058
1,221
7,921
91fi
8,976
8,974
953
7,112
909
8,117
8,116
924
6,292
9ftn
403
660
282
378
529
194
334
460
317
386
7,170
7,169
728
5,542
899
6,399
6,397
300
5,269
828
16,362
16,359
10,617
4,998
744
402
652
267
385
456
185
271
1,531
3474
r
416
16,439 15,731
16,436 15,728
7,545
10,475
7,575
5,293
608
fifi8
r
363
637
257
380
430
222
208
431
SURVEY OF CURRENT BUSINESS
March 1983
Unless otherwise stated in footnotes below, data
through 1978 and descriptive notes are as shown
in the 1979 edition of BUSINESS STATISTICS
1981
1982
Annual
S-31
1982
Jan.
Feb.
Mar.
Apr.
May
June
1983
July
Aug.
Sept.
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...
Cotton cloth:
Cotton broadwoven goods over 12" in width:
Production (qtrly.) ..
mil. sq. 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 §
balesImports, 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
doStaple, incl. tow
do—
Textile glass fiber
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
6,079
39
653
0
50.3
754
0
49.1
873
(6)
50.4
676
4
54.3
484
13
55.8
83.0
60.5
57.8
57.3
59.7
62.0
15.4
5.5
91.8
0.357
33.6
14.2
5.3
61.7
0.320
30.2
15.4
5.5
6.5
0.327
2.3
15.3
5.5
6.8
0.339
2.4
15.3
5.5
4
8.3
0.414
4
3.0
14.1
11.1
15.3
12.5
5.6
7.1
6.8
0.40
0.65
345.6
766.3
239.2
601.3
8,021
17
54.5
3
52.8
351
10
55.5
293
1
59.8
382
3
59.9
377
(8)
57.3
438
1
56.0
53.7
62.4
61.1
65.0
60.4
59.0
58.6
58.2
59.6
60.2
61.7
15.2
5.5
6.7
0.337
2.5
15.3
5.6
6.6
0.327
2.5
14.9
5.6
4
7.8
0.310
4
2.9
14.7
5.5
5.4
0.268
2.0
14.6
5.4
6.3
0.314
2.4
14.5
5.3
4
7.7
0.307
4
2.8
14.4
5.3
6.6
0.328
2.5
14.3
5.2
6.2
0.309
2.3
14.2
5.3
6.7
0.270
2.6
14.4
5.3
6.4
0.318
r
2£
12.7
11.5
9.6
8.8
12.7
10.7
9.2
8.6
r
7.0
7.3
7.1
6.3
7.2
11.2
8.7
5.9
5.8
r
0.45
0.56
0.58
0.62
0.65
0.82
0.88
0.81
0.63
0.68
18.2
66.5
18.6
55.1
20.4
47.4
20.6
45.4
24.3
54,1
24.8
47.8
22.7
41.4
15.7
48.7
18.4
49.3
3,913
983
3,792.8
4,191.1
1,041.1
14.3
31.1
337.0
329.8
146.2
2,352.3
769.0
95.5
110.3
1,326.3
30.5
1,009.3
225.3
11.8
5.7
6.1
0.61
0.52
20.7
44.4
18.4
53.6
16.4
47.6
35.86
16.06
11.29
19.80
36.87
16.87
12.03
19,98
32.54
15.78
11.53
16.76
82.75
12.95
9.07
69.80
48.38
21.52
70.14
10.65
7.41
59.49
40.59
20.04
68.76
11.78
7.69
56.97
37.82
16.64
31.08
14.87
10.35
16.21
59.16
10.04
6.31
49.12
32.45
10.80
8.3
*1.2
4.7
1.8
7.1
0.7
2.9
1.4
7.7
0.8
3.6
1.3
4
9.4
4
2.40
2.87
2.76
2.69
2.67
r
r
330.7
340.3
151.8
11,228.7
3,850.9
9.4
13.5
382
dodo—
do—
953
7854
864.6
206.9
mil. lb..
do—
342
52.9
95.4
6,431.4
584.1
4,517.0
1,002.2
637.73
318.89
208.48
318.84
639.08
130.52
95.38
508.56
434.87
184.70
438.55
200.59
132.57
237.96
807.10
132.58
93.34
674.51
485.31
193.09
34.90
16.20
9.72
18.70
53.18
10.88
7.74
42.30
36.48
12.46
38.35
17.13
10.13
21.22
48.07
8.73
6.58
39.34
33.95
11.22
127.8
10.9
2
75.3
26.1
105.0
7.8
61.4
21.4
9.4
0.7
8.0
2.1
9.6
0.9
6.3
1.6
2.99
2.75
3.01
2.63
3.03
WOOL AND MANUFACTURES
Wool consumption, mill (clean basis):
Apparel class
mil. lb..
Carpet class
doWool imports, clean yield
doDuty-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. sq. yd..
165.0
FLOOR COVERINGS
Carpet, rugs, carpeting (woven, tufted, other),
shipments, quarterly
mil. sq. yds..
990.6
5
2.78
5
3.16
APPAREL
Women's, misses', juniors' apparel cuttings:
Coats
thous. unitsDresses
do—
Suits (incl. pant suits, jumpsuits)
do—
Skirts
doBlouses
thous. dozen-
396
1
59.9
257.0
460.6
Manmade fiber and silk broadwoven fabrics:
Production (qtrly.), total #
. mil. sq. yd..
Filament yarn (100%) fabrics #
do—
Chiefly rayon and/or acetate fabrics
do—
Chiefly nylon fabrics
do....
Spun yarn (100%) fab., exc. blanketing # .. do....
Rayon and/or acetate fabrics, blends
doPolyester 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 polyester /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.. .
See footnotes at end of tables.
498
4
58.1
r
14,845
136,176
13,605
91,025
30,322
22820
834.4
105.8
110.0
1,189.7
28.7
901.3
223.4
35.96
15.67
10.59
20.29
40.14
9.58
6.79
30.56
25.39
8.56
42.01
18.42
12.11
23.59
67.85
12.27
8.74
55.58
40.45
15.32
44.21
20.65
13.36
23.56
91.93
12.48
9.14
79.46
53.04
21.76
33.93
16.12
10.66
17.80
77.34
9.50
6.58
67.83
43.58
17.80
33.13
14.70
9.32
18.44
100.05
14.40
10.44
85.65
60.91
26.41
12.8
4
1.0
6.6
1.8
9.0
0.7
4.9
2.0
8.2
0.9
6.0
2.0
4
9.4
4
0.8
6.6
2.6
5.9
0.6
4.0
1.7
8.0
1.0
4.2
2.0
2.44
3.13
2.40
3.23
2.40
3.36
2.40
3.21
2.40
3.04
2.40
2.94
39.72
18.10
11.48
21.61
47.74
9.33
6.82
38.41
32.29
10.55
4
38.1
909.3
242.7
0.6
3.7
1.2
36 1
214.0
4
226.7
225.9
2.79
5.3
£5
SURVEY OF CURRENT BUSINESS
S-32
Unless otherwise stated in footnotes below, data
through 1978 and descriptive notes are as shown
in the 1979 edition of BUSINESS STATISTICS
1981
March 1983
1982
1982
Jan.
Annual
Feb.
Mar.
Apr.
May
June
1983
July
Aug.
Sept.
Oct.
Nov.
Dec.
22,725
24,466
27,540
22,561
20,969
624.7
3,130
102
1,287.7
6,385
421
Jan.
Feb.
TEXTILE PRODUCTS—Continued
APPAREL— Continued
Men's apparel cuttings:
Suits
Coats (separate) dress and sport
Trousers (separate) dress
Slacks (jean cut) casual
Hosiery shipments
thous units
do....
do
do .
thous doz pairs
14686
17880
175 445
38 112
304 826
288704
25065
21634
23902
23898
22,248
23,888
29,632
TRANSPORTATION EQUIPMENT
AEROSPACE VEHICLES
Orders new (net) qtrly total @
U.S. Government
72,852
39,102
70,633
69,944
33,039
Sales (net), receipts, or billings, qtrly, total
B kl
f rders end of eriod #
U S Government
'
( ' fl-1 c\
rt
Hn
Missiles, space vehicle systems, engines, propulF
Other related operations (conversions, modificaAircraft (complete);
Shipments $ $
Airframe weight # #
17,572
10,469
16,919
18,869
11,456
96,000
45,538
46,516
13,545
46,965
46,103
13,331
94,869
45,978
44,138
13,912
10,997
10,690
10,374
11,314
do
do
18,279
10,744
17,665
18,113
9,317
11 047
do....
20079
11,016
19407
16,719
8,740
92,640
43,262
44 555
13,173
mil $
do....
11991
13,217
13,618
do
thous. lb..
13,195.0
89,076
8,551
9,298.2
50,054
4,775
708.3
4,187
504
774.2
3,993
369
1,122.0
5,857
809
806.0
4,270
412
956.5
5,045
453
739.9
4,059
434
564.0
3,437
445
466.1
2,801
370
646.5
3,665
77
602.4
3,225
378
thous..
6,225
5,749
5,049
4,696
273
256
320
302
469
431
488
441
510
468
561
523
439
405
356
334
429
406
431
406
407
382
366
344
r
do....
do....
do
mil..
do
do ..
8,535
6,209
2,326
7,980
5,758
2,221
535
368
166
7.9
5.4
2.5
632
457
175
8.4
6.2
2.2
777
576
201
7.7
5.6
2.0
669
499
170
7.3
5.4
1.8
774
584
190
8.2
6.2
2.0
651
452
199
"7.0
6
4.8
6
2.2
630
430
200
7.4
5.1
2.2
609
409
200
7.6
5.4
2.2
671
488
183
8.3
6.0
2.3
656
488
169
7.9
5.5
2.4
743
558
185
9.4
6.8
2.6
632
448
184
8.7
6.1
2.6
r
596
r
414
182
8.7
6.0
2.7
628
442
185
8.4
6.0
2.3
1,471
1,495
1,126
1,193
1,432
1,383
1,325
1,241
1,247
1,171
1,256
1,187
1,213
1,146
1,364
1,247
1,377
1,378
1,379
1,531
1,350
1,481
1,296
1,412
1,164
1,229
1,126
1,193
1,180
1,220
1,248
1,258
r
321
MOTOR VEHICLES (NEW)
Passenger cars:
Factory sales (from U.S. plants), total ft
Retail sales, total, not seasonally adj t— —
Domestics §
..
Imports §
Total seas adjusted at annual rate 1"
Domestics §
Imports §
.
Retail inventories, end of period, domestics: § t
Not seasonally adjusted
thous..
Seasonally adjusted
.
do. ..
6
6
457
431
2
491
r
2.5
2.9
538.12
470.86
2,998.6
563.9
2.5
3.1
2.4
2.5
2.6
2.2
3.1
3.2
3.4
3.0
3.1
2.2
2.4
thous..
do .
do....
do
374.30
334.05
3,067.0
702.5
17.27
13.42
259.9
37.1
23.87
19.46
195.9
58.0
40.21
36.03
285.7
70.4
49.59
45.72
249.2
73.2
45.70
42.55
309.5
71.2
38.66
35.72
275.5
83.3
34.29
32.27
261.9
44.1
21.18
18.39
263.0
47.7
26.30
23.70
217.4
61.0
27.42
23.48
262.8
49.5
27.39
23.71
253.6
56.8
22.42
19.60
232.7
50.2
do....
do....
8,444
2,432
7,754
2,293
509
159
546
164
626
176
672
186
708
189
717
206
626
203
627
214
625
200
655
195
678
181
765
220
595
191
1,701
1,514
1,905
1,778
116
108
144
133
197
184
183
169
193
180
212
197
166
154
142
134
155
146
142
132
127
118
130
122
141
133
2,063.8
3
45.7
3
138.3
167.6
4.0
14.0
175.0
3.6
12.4
186.0
3.4
12.5
170.1
3.8
12.6
191.3
4.6
12.5
155.3
4.1
11.7
162.2
3.9
10.1
140.4
3.4
10.4
193.8
3.9
10.1
149.7
3.5
9.6
199.4
3.6
10.0
179.2
3.8
12.5
7
5
559.4
170.50
3
539.5
124.15
514.0
8.22
498.3
11.46
482.0
12.68
513.4
12.37
526.9
12.89
569.0
13.81
615.2
9.17
704.9
7.80
665.5
6.62
636.2
10.31
566.4
9.80
537.9
9.04
7
Imports (BuCensus), including separate chassis
and bodies
thous..
838.92
738.08
74.80
57.15
82.00
73.68
71.63
73.27
51.73
56.50
57.33
54.44
43.28
42.27
47.58
Registrations,!! new vehicles, excluding buses not
produced on truck chassis
.
. thous..
2,185
2,430
156
171
208
219
226
226
197
193
182
193
215
246
2.5
26.88
24.71
277.3
59.1
189
Inventory-retail sales ratio domestics § t
Exports (BuCensus), assembled cars
To Canada
Imports (BuCensus), complete units # #
From Canada total
Registrations fl, total new vehicles
Imports,. incl. domestically sponsored
Trucks and buses:
Factory sales (from U.S. plants), total @ @ ..thous..
Domestic @ @
•
do....
Retail sales, seasonally adjusted: t
Light-duty, up to 14,000 Ibs. GVW
Medium-duty, 14,001-26,000 Ibs. GVW
Heavy-duty, 26,001 Ibs. and over GVW
do....
do....
do....
Retail inventories, end of period, seasonally
adjusted "f
thous.
Truck trailers and chassis, complete (excludes
5
1,746.6
5
73.9
5
151.7
4
do
do....
do....
117,635
70,928
7,239
8,615
Freight cars (new), for domestic use; all railroads
and private car lines (excludes rebuilt cars and
cars for export):
Shipments
number .
Equipment manufacturers
do....
New orders
do
Equipment manufacturers
do....
Unfilled orders end of period
do....
Equipment manufacturers
do.. .
*44,901
'41,435
1
17,916
1
17,288
16,485
14,819
Vans
Trailer bodies (detachable), sold separately
Trailer chassis (detachable), sold separately
RAILROAD EQUIPMENT
Freight cars (revenue), class 1 railroads (AAR): $
Held for repairs % of total owned
Capacity (carrying), total, end of mo
Average per car
See footnotes at end of tables.
mil. tons.
tons.
1,111
6.9
89.37
80.43
5
3
2
167
168.9
7
4.4
7
10.9
160.4
3.7
9.8
495.7
7.32
325.8
7,476
4,327
252
449
8,418
4,928
203
564
9,903
6,355
429
817
8,453
5,300
440
846
8,023
5,240
504
790
8,382
5,388
376
598
6,046
4,025
305
680
7,826
5,582
228
597
6,910
4,900
335
320
6,421
4,279
378
211
r
7,683
r
5,479
r
282
93
9,763
7,127
288
91
17,236
45,515
'7,071
1
6,321
4,295
4,095
1,995
1,833
815
815
14,735
13,231
1,762
1,526
753
753
13,486
12,218
2,247
2,032
1,485
1,485
12,599
11,546
2,443
2,265
539
539
10,560
9,685
1,794
1,694
487
487
9,253
8,478
1,339
1,244
586
586
8,500
7,820
1,369
1,369
179
179
7,187
6,507
1,060
992
373
373
6,829
6,217
967
913
583
583
5,895
5,337
890
650
884
134
5,283
4,710
610
525
249
249
4,866
4,378
765
477
231
231
4,295
4,095
494
440
501
501
4,301
4,155
1,039
8.7
84.87
81.68
1,110
7.0
89.32
80.48
1,105
7.4
89.02
80.58
1,100
7.6
88.76
80.71
1,095
7.6
88.48
80.84
1,090
7.7
88.19
80.92
1,083
8.0
87.71
81.02
1,077
8.1
87.47
81.19
1,069
7.9
86.94
81.35
1,059
8.3
86.24
81.44
1,053
8.4
85.86
81.54
1,047
8.6
85.43
81.60
1,039
8.7
84.87
81.68
1,035
8.8
84.77
81.93
95,304
62,930
4,020
6,056
1
447
411
299
297
4,153
4,041
SURVEY OF CURRENT BUSINESS
March 1983
S-33
FOOTNOTES FOR PAGES S-l THROUGH S-32
General Notes for all Pages:
r
p
e
c
Revised,
Preliminary,
Estimated,
Corrected.
Page S-l
PageS-7
t Revised series. See Tables 2.6 - 2.9 in the July 1982 SURVEY for revised estimates back to
1977. Pre-1977 estimates are available in The National Income and Product Accounts of the
United States, 1929-76: Statistical Tables.
$ Includes inventory valuation and capital consumption adjustments.
* New series. Detailed descriptions begin on p. 18 of the Nov. 1979 SURVEY. See note "t"
for this page for information on historical data.
• . •
§ Monthly estimates equal the centered three-month average of personal saving as a percentage of the centered three-month moving average of disposable personal income.
1. Computed from cumulative valuation total.
2. Index as of Mar. 1, 1983: building, 348.1; construction, 372.9.
# Includes data for items not shown separately.
§ Data for Jan., Apr., July, Sept., and Dec. 1982 are for five weeks; other months four
weeks.
PageS-2
1. Advance Estimate.
11 Home mortgage rates (conventional first mortgages) are under money and interest rates
on p. S-14.
§ Data include guaranteed direct loans sold.
$ Effective Oct. 1982 SURVEY, seasonally adjusted wholesale trade data have been revised
for Jan. 1981-March 1982. Effective April 1982 SURVEY, wholesale trade data have been
revised for Jan. 1972-Dec. 1981. Revised data are available upon request.
t Effective April 1982 SURVEY, retail trade data have been revised for the years 1972-1981.
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-8
1 . Based on data not seasonally adjusted.
* Includes data not shown separately.
$ Revised series. For wholesale see note •"$" for p. S-8. For manufacturing see note "t"
for p. S-3. For retail see note "t" for p. S-8.
t See note "t" for p. S-3.
§ See note "t" for p. S-8.
@ See note "$" for p. S-8.
* New series. Data back to 1967 are available from the National Income and Wealth
Division, Bureau of Economic Analysis,
Page S-3
$ Revised series. For wholesale see note "$" for p. S-8. For manufacturing see note "t"
for this page. For retail see note "t" for p. S-8.
t Revised series. Data have been revised back to 1972. A detailed description of these
revisions and historical data appear in the reports "Manufacturers' Shipments, Inventories,
and Orders" M3-1.10 (1972-1980) and M3-l.ll (1977-81), available from the Bureau of
the Census, Washington, D.C. 20233.
§ See note "t" for p. S-8.
@ See note "$" for p. S-8.
* 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.
PageS-4
1 . Based on data not seasonally adjusted.
f See note "t" for p. S-3.
# 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.
1 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.
PageS-9
1. Advance estimate.
2. Effective Jan. 1979 data, sales of mail-order houses are included with department store
sales.
3. As of July 1.
# Includes data for items not shown separately.
$ Revisions for Jan. 1977-Oct. 1979 appear in "Current Population Reports," Series P-25,
No. 870, Bureau of the Census.
II Effective with the January 1983 SURVEY, the seasonally adjusted labor force series have
been revised back to January 1978. Revised monthly series appear in the January 1983 issue
of Employment and Earnings. Effective with the February 1982 SURVEY, the labor force
series have been revised back to 1970 to reflect the 1980 Census of Population. Seasonal
adjustment factors were revised accordingly. Revised monthly series appear in the February
1982 issue of Employment and Earnings. Revised annual series will appear in the March
1982 issue of Employment and Earnings, U.S. Department of Labor, Bureau of Labor Statistics.
* New series. The participation rate is the percent of the civilian noninstitutional population in the civilian labor force/The employment-population ratio is employment as a percent
of the total noninstitutional population, 16 years and over.
t See note "t" for p. S-8.
PageS-10
PageS-5
1. Based on unadjusted data.
2. Beginning with data for January 1983, the index is affected by a change in methodology
used to compute the homeownership component. For additional information regarding this
change see p. S-36 of this SURVEY.
t See note "f" for p. S-3.
@ Compiled by Dun & Bradstreet, Inc.
jf Includes data for items not shown separately.
§ Ratio of prices received to prices paid (parity index).
T Revisions, back to 1975 for some commodities, are available upon request.
$ See note "$" for p. S-4.
1. This series has been discontinued.
§ These unemployment rates are for civilian workers only. The unemployment rate for all
workers, including the resident armed forces, was 10.2 in Feb. 1983.
t Effective June 1982 SURVEY, data have been revised back to 1977 based on March 1981
benchmark levels and updated seasonal adjustment factors. See "BLS Establishment Estimates
Revised to March 1981 Benchmarks," in the June 1982 issue of Employment and Earnings.
Effective July 1981 SURVEY, data have been revised back to 1974 to reflect new benchmarks
and new seasonal adjustment factors. See "BLS Establishment Estimates Revised to March
1980 Benchmarks," in the July 1981 issue of Employment and Earnings.
Y See note "1" for p. S-9.
Page S-6
Page S-l 1
1. See note 2 for p. S-5.
2. Index no longer available from the source, BLS.
§ For actual producer prices of individual commodities see respective commodities in the
Industry section beginning p. S-19. All data subject to revision four months after original
publication.
t Revised series. Stage-of-processing producer price indexes have been revised back to
1976 to reflect updated industry input-output relationships and improved classification of
some products.
# Includes data for items not shown separately.
I Effective Feb. 1983 SURVEY, data have been revised back to 1978 to reflect updated
seasonal factors. Effective Feb. 1982 SURVEY, data have been revised back to 1977 to reflect
updated seasonal factors. These revisions are available upon request.
@ Effective with the Feb. 1983 SURVEY, the percent Change and indexes as shown here
have been revised back to 1967 except for the transportation group and services which were
revised back to 1978. These revisions as well as those for indexes not shown here are available
from the Bureau of Labor Statistics, U.S. Department of Labor, Washington, D.C. 20212.
t Seenote"f"onp.S-10.
$ 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.
If Production and nonsupervisory workers.
PageS-12
1. This series has been discontinued.
t See corresponding note on p. S-10.
H Production and nonsupervisory workers.
$ Earnings in 1977 dollars reflect changes in purchasing power since 1977 by dividing by
Consumer Price Index.
§ Wages as of Feb. 1, 1983: Common, $14.92; Skilled, $19.46.
S-34
SURVEY OF CURRENT BUSINESS
March 1983
PageS-13
PageS-16
1. Average for Dec.
2. Reported annual; monthly revisions are not available.
H Effective April 1982 SURVEY, the series for work stoppages involving six or more workers
have been discontinued and have been replaced by series for work stoppages involving 1,000
or more workers.
# 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).
# New series. Beginning Dec. 1978, data are for all investment account securities; comparable data for earlier periods are not available.
@ 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.
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.
PageS-14
1. See note 1 for p. S-16.
2. Annual total; quarterly or monthly revisions are not available.
3. Before extraordinary and prior period items.
4. For month shown.
5. Domestic trunk operations only (averaging about 90 percent of domestic total).
6. See note 2 for p. S-17.
7. Beginning October, 1982; data are not comparable because of the exclusion of some
small carriers who chose to waive filing a Form 41.
# 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.
IT Average daily rent per room occupied, not scheduled rates.
@ Effective January 1, 1980, contract carriers are not included because the data filed by
these carriers were substantially reduced in scope, in accordance with the ICC revised reporting
regulations.
1. Data are for fiscal years ending Sept. 30 and include revisions not distributed to the
months.
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. See also note 3 for this page.
5. Beginning Oct. 1981, data represent the total surplus or deficit (budget surplus or deficit plus
off-budget surplus or deficit). See also note 1.
6. Interest rate charged as of Mar. 1, 1983 was 10.83.
# 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.
U Adjusted to exclude domestic commercial interbank loans and Federal funds sold to
domestic commercial banks.
$ 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.
t$ Courtesy of Metals Week.
@@ Average effective rate
PageS-15
t Effective Feb. 1982 SURVEY, the money stock measures and components have been revised
back to 1959. 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.
$ Composition of the money stock measures is as follows:
ML—This measure is currency plus demand deposits at commercial banks and interest-earning
checkable deposits at alf 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.
M2.—This measure adds to Ml 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.
M.3.—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.
§ Number of issues represents number currently used; the change in number does not
affect the continuity of the series.
PageS-17
1. See note 1 for p. S-16.
2. Beginning Jan. 1982 data, the Customs value is being substituted for the f.a.s. value.
# 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,
PageS-18
PageS-19
1. Reported annual total; monthly revisions are not available.
2. Less than 500 short tons.
3. Beginning Jan. 1981, data represent gross weight (formerly phosphoric acid content
weight) and are not comparable with data shown for earlier periods.
4. A portion of data is being withheld to avoid disclosing information for individual
companies; not comparable with other published data.
5. Beginning Jan. 1980 data, another company is included.
6. A portion of data is being suppressed because of not meeting publication standards.
For nitrogen solutions, see also note 4 for this page.
# Includes data for items not shown separately.
§ Data are reported on the basis of 100 percent content of the specified material unless
otherwise indicated.
$ Revisions, back to 1977 for some commodities, are available upon request.
II Data for Jan. 1977-June 1979 exclude potassium magnesium sulfate; not strictly comparable with data shown for other periods.
PageS-20
1. Reported annual total; monthly revisions are not available.
2. Reported annual total, including Hawaii; monthly data are preliminary and subject to
change.
3. Beginning 1982, the reporting frequency has been changed from a monthly to a quarterly
basis. Revised quarterly data for 1979 through 1981 are available upon request.
§ Data are not wholly comparable from year to year because of changes from one classification to another.
$ Revisions back to 1977 are available upon request.
PageS-21
1. Based on quotations for fewer than 12 months.
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. See note "@@" for this page.
7. Data are no longer available.
8. See note 2 for p. S-22.
9. Effective with this reporting, data are reported on a monthly basis.
10. Data for Mar.-Dec. 1982 are not available.
§ Excludes pearl barley.
# Bags of 100 Ibs.
U Revised crop estimates back to 1975 are available upon request.
@ Revisions, back to 1977, for some commodities, are available upon request.
$ Revisions back to 1975 are available upon request.
©@ Data are quarterly except for June (covering Apr. and May) and Sept. (covering
June-Sept.).
March 1983
S-35
SURVEY OF CURRENT BUSINESS
PageS-22
Page S-29
1. Based on quotations for fewer than 12 months.
2. Effective with this reporting, data are for 3-month intervals.
3. Data are no longer available.
4. See note 9 for p. S-21.
§ Cases of 30 dozen.
II Bags of 132.276 Ibs.
$ Revisions for Jan.-July 1979 (back to 1975 for grindings of wheat) are available upon
request.
@ Revisions back to 1977 are available upon request.
# Effective Apr. 1981 SURVEY, the wholesale price of smoked hams has been discontinued
and has been replaced with the comparable price index. Annual indexes prior to 1979 and
monthly indexes prior to Feb. 1980 are available upon request.
1. Reported annual total; revisions not distributed to the months.
2. Effective Jan. 1980, data are no longer available.
3. Average for 11 months; no price for Aug. 1980 or June 1981.
4. Average for 11 months; no price available for Nov. 1980 or for Oct. 1981.
5. Monthly data will be discontinued as of April 1982 SURVEY, due to budgetary limitations. The related annual report, MA26A, will continue to be published.
6. Data under review, will be available at a later date.
11 Source: American Paper Institute. Total U.S. estimated consumption by all newspaper
users.
§ 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.
PageS-23
1. Crop estimate for the year.
2. Average for seven months; price not available for July, Aug., and Oct.-Dec.
3. Annual total; monthly revisions are not available.
4. Data are no longer available.
§ Monthly data reflect cumulative revisions for prior periods.
$ Revisions back to 1975 are available upon request.
# New series. Source: Bureau of Labor Statistics.
# Totals include data for items not shown separately.
PageS-24
1. Annual data; monthly revisions not available.
2. Less than 500 short tons.
PageS-25
1. Annual data; monthly revisions are not available.
2. For month shown.
3. Effective Jan. 1981, data are revised back to Jan. 1980. Inventory data formerly calculated by the Bureau of the Census are now based on the Steel Service Center Institute monthly
Business Conditions report.
PageS-30
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. Data are not available prior to Jan. 1980.
5. See note "$" for this page.
6. Monthly and annual data for regular basecoat plasters are not available; sales of "all
other" represents total sales of building plasters. See also note 1 for this page.
7. Data withheld to avoid disclosing operations of individual companies.
8. Represents total shipments for Jan.-May 1982. See also note 7 for this page.
* New series. Data for finishing mills have replaced data for weaving mills, which are no
longer available.
# Includes data for items not shown separately.
1 Cumulative ginnings to the end of month indicated.
. § Bales of 480 Ibs.
$ Beginning Jan. 1982, shipments include those for direct export; such shipments for 1981
were 2,165 thous. gross.
@ Annual totals are based on advance summaries and reflect revisions not distributed to
the months.
PageS-26
1. Annual data; monthly revisions are not available.
2. Less than 50 tons.
U 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.
$ Source for monthly data: American Bureau of Metal Statistics, Source for annual data:
Bureau of Mines.
# Includes data not shown separately.
t Effective July 1980 SURVEY, data are revised and shown on a new base. The sample size
has been restored to 100 firms and the base has been changed to 1977= 100. The revised series
are not comparable to previously published data.
* 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.
PageS-27
1. Total stocks for bituminous coal and lignite exclude residential and commercial stocks
and are not comparable with data prior to Jan. 1980.
2. Data are for five weeks; other months 4 weeks.
3. For month shown.
# Includes data for items not shown separately.
@ Beginning July 1977, data are representive of those manufacturers reporting and are
not an average of the total industry; they are not directly comparable with earlier data.
* New series. Annual data prior to 1978 and monthly data prior to April 1979 are available upon request.
§ Includes nonmarketable catalyst coke.
U Includes small amounts of "other hydrocarbons and alcohol new supply (field production)," not shown separately.
t Revisions back to Jan. 1978 are available upon request.
$ Effective with 1981 petroleum data, the Energy Information Agency has changed some
definitions and concepts to reflect recent developments in refining and blending practices.
These changes include adding a category for gasohol production to motor gasoline production and accounting more precisely for distillate and residual fuel oil processed further after
initial distillation. A description of these changes appears in the May 1981 issue of Monthly
Energy Review, U.S. Department of Energy. Energy Information Administration.
PageS-28
1. Simple averages of prices are no longer available.
2. See note 5 for p. S-29.
3. Reported annual totals; revisions not allocated to the months.
f Prices are mid-month, include taxes, and represent full service; comparable prices prior
to Jan. 1979 are not available.
# Includes data for items not shown separately.
* New series. See note "U" for this page.
$ Except for price data, see note "$" for p. S-27.
PageS-31
1. Effective Jan. 1,1978, includes reexports, formerly excluded.
2. Annual total includes revisions not distributed to the months.
3. Average for crop year; Aug. 1-Jul. 31.
4. For five weeks; other months four weeks.
5. Monthly average.
6. Less than 500 bales.
§ Bales of 480 Ibs.
«] 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.
PageS-32
1. Annual total includes revisions not distributed to the months.
2. Figure represents production; not factory sales.
3. Effective Jan. 1982 (for retail sales) and Aug. 1982 (for retail stocks), U.S -built MercedesBenz trucks are included; comparable data for earlier periods are not available. See also note 5
for this page.
4. Monthly data for 1980 as published in earlier issues of the SURVEY, exclude exports for
off-highway trucks; not strictly comparable with data shown for other periods. Such exports
have since been included in the monthly data and are available upon request.
5. Based on unadjusted data.
6. See note 'T' for this page.
7. See last sentence of note "t" for this page.
# 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.
II Courtesy of R.L. Polk & Co.; republication prohibited. Because data for some states
are not available, month-to-month comparisons are not strictly valid.
t Excludes railroad-owned private refrigerator cars and private line cars.
t Revisions, back to 1967 for some commodities, are available upon request. Effective
with the July 1982 SURVEY, seasonally adjusted data for passenger cars have been revised
back to Jan. 1977 and are available upon request. Effective with the Feb. 1983 SURVEY.
seasonally adjusted data for trucks and buses have been revised back to Jan. 1980 and are
available upon request.
@ In the 1979 BUSINESS STATISTICS, 4th Qtr. 1977 should read "13 946" mil $
ft In the 1979 BUSINESS STATISTICS, annual data for 1977 should'read "2,6048"
mil. $.
## Revisions back to 1977 are available upon request.
tf Includes Volkswagens produced in the U.S.
@@ Includes passenger vans.
S-36
SURVEY OF CURRENT BUSINESS
March 1983
Change in the Treatment of Homeownership in the CPI-U
Beginning with data for January 1983, the Consumer Price
Index for All Urban Consumers (CPI-U), shown along with
selected components on pages S-5 and S-6, reflects changes
in the methodology used to compute the homeownership
component. A rental equivalence measure is now used.
Historical data for the CPI-U based on the new methodology
will not be available. However, the change has been made
in such a way that the indexes based on the new and old
methodologies are equal for December 1982 (the so-called
link month), and calculations based on the old method will
be available for a 6-month overlap period (January through
June 1983). The Consumer Price Index for Urban Wage
Earners and Clerical Workers (CPI-W) will continue to be
calculated by the old method through 1984. Beginning with
data for January 1985, it will also reflect a rental equivalence
measure of homeownership.
Under the old method of computation, the CPI homeownership component consisted of five subcomponents:
the net price of homes purchased, the amount of mortgage
interest expected to be paid over one-half the stated life of
a home mortgage, property taxes, property insurance, and
home maintenance and repairs. As such, it reflected investment elements, largely related to the purchase price
and mortgage interest subcomponents, as well as consumption
elements. The large weight of the homeownership component
in the CPI and the sensitivity of the all-items index to the
procedures used in its calculation focused attention on it.
A change to a flow-of-services-consumed treatment for
homeownership has been under discussion for some time.
Because such a treatment would abstract from investment
elements of homeownership, it would be consistent with the
design of the CPI as a measure of change in the prices of
the market basket of services consumed in the base period.
More recently, problems in obtaining reliable data for
calculating the home price and mortgage interest cost
subcomponents have highlighted the need for change. For
home prices, the prices used in the CPI pertained only to
purchases financed with FHA-insured mortgages. These
prices represented a very small, specialized, and declining
segment of the housing market, and thus were becoming
less representative. For mortgage interest, new types of
mortgages—involving variable rates, shorter financing terms,
and other special arrangements—had become increasingly
prominent, making the standard, long-term, fixed-rate
mortgage used in the CPI increasingly unrepresentative.
Further, because of high interest rates and difficulties faced
by home buyers in securing mortgages from financial institutions, many homeowners were offering to provide
financing at below commercial rates in order to sell their
homes; these arrangements were not reflected in the CPI.
Under the new method of computation, the CPI-U homeownership component has been replaced with a homeowners'
cost component to reflect costs associated with homeowners'
consumption of shelter service. (The new rental equivalence
CPI-U is a descendant, with important refinements, of the
CPI-U-Xl, one of the experimental measures produced since
1980 and now discontinued.) In the new CPI-U, the homeowners' cost consists of owners' equivalent rent and household
insurance. Owners' equivalent rent, the primary rental
equivalence item, is a measure of the rental income owners
forego when they choose to occupy their homes instead of
renting them out. It replaces home purchase, home financing,
and property tax of the old method, plus the portions of
the property insurance, maintenance and repairs, and
household appliances that are implicitly included in rents.
The household insurance subcomponent is a measure of the
portion of property insurance not implicitly included in
rents—insurance for liability and house contents. Except
for the portions now included in owners' equivalent rent,
maintenance and repairs (now excluding capital improvement
items) and household appliances are listed separately. As
a result of the change in methodology, the overall weight of
homeownership in the CPI-U declined, from about 26 to 14
percent.
The notes to pages S-5 and S-6 indicate which CPI-U
series shown on those pages are affected by the change in
methodology: the all-items index and series based on it;
the indexes for commodities, services, and some major
commodities and services aggregates; and the indexes for
housing and its shelter and household furnishings and
operation subcomponents. Two indexes—homeownership,
and services less rent—are no longer available. In addition,
a number of detailed and special-group indexes not shown
on these pages are affected.
For a detailed discussion of the change in the treatment
of homeownership, see ''Changing the Homeownership
Component of the Consumer Price Index to Rental Equivalence," -CP7 Detailed Report, January 1983: 1-8.
TO
' SECTIONS
General:
Business indicators „.„.„„„„.....„,.
Commodity prices „.«..,.,.„.„„„„„„
Construction and real estate........
Domestic trade,.,
Labor force, employment, and earnings..
Finance .««».».««^«,««,».«««...,»««»«*«*
Foreign trade of the United States.........
Transportation and communication........
Industry:
Chemicals and allied products *„„„„,„**„
Electric power and gas .„»»,.„.„....,..»..».«„
Food and kindred products; tobacco
Leather and products...........
Lumber and products ....
Metals and manufactures..............
Petroleum, coal, and products ......
Pulp, paper, and paper products...
Rubber and rubber products
Stone, clay, and glass products...
Textile products ...„.„.„.„.„,„*„.„
Transportation equipment...........
1-5
5,6
7,8
8,9
9*13
-13-16
18,19
19,20
20
20^23
23
23, 24
24-27
27,28
28,29
29
30
30-32
32
33-35
INDIVIDUAL SERIES
Advertising
8,12
Aerospace vehicles .....
32
Agricultural loans ......
......
......
1
3
Air carrier operations....
,,...™.
18
Air conditioners (room).**,
„...„.„„.
27
Aircraft and parts ....»,.....„„,..,„
Alcohol, denatured and ethyl...,
!«!™»"
* 19
Alcoholic beverages.,*.
„„„„...„ 8,20
Aluminum „*„*„„..„.„„
„.„...„.„
25
Apparel .„,......,...».„..«.
.... 2, 4-6,8-12
Asphalt
».*„..,.„..
28
Automobiles, etc .„........,...„,. 2-4, 6,8,9,14, If, 17,32
Banking .,.....„.
..... 13,14
Barley .»........,*.
Battery shipments...
*'• " 27
Beef and veal „„»
,»
22
8,17,20
Blast furnaces, steel mills
.„
3-5
Bonds, issued, prices, sales, yields __
„, 15-16
Brass and bronze *»»„,,*...,.;,.„..»»„„„„,..»..„
>., V < 26
Brick *^».^»««».««,«,.^^»W..M,M..<^,M,W.
30
Building and construction materials........
,. 2,4,5
Building costs ^......«,,..M^^.^.«M,^W.
7
Building permits .^..^..i,.,....,,,,.,,.,,.,,...;.
7
Business incorporation (new), failures .,*.
5
Business sales and inventories ,»»»*,»*,*.„.,„.
,. 2,3
Butter ..w.M«..««M...,.»^.,M..».«^Ww,.^,,
* " 21
Cattle and calves.^«,.««M..«....«M,M......w
22
Cement »,,..,.,..»......w.w,».,,,,.,,.....f»..^f,,,,w.,,
~
30
Chain-store sales, firms with 11 or more
stores,....,..,..............*.,,,—.....„„.„.,„.„
9
Chemicals ...^..^.......(
Cigarettes and cigars,,,
Clay products ,..„„.„„.«
Clothing (see apparel)
21
19,20
23
2-4,30
1,27
22
22
27
«.».»,...«...,...»«WM..,,w.
Disposition of personal income .......
Distilled spirits „.„,„....„.....».„,.,.„„„
Dividend payments.
,„»..„„
.....
....
.„,.„.„
,.„.,,„.
,„»„.„.
27
1
20
1,15
8,9
Earnings, weekly and hourly .„„„.»„„„„,
12
Eating and drinking places „„;»„„»,„.„..„ „„„...»
8,9
Eggs and poultry ......,.,.,„...,.„..,„„„,..«»„ «......„ 5,22
Electric power ...........—,„„.„.,., ,....„.„ 2,20
..........
Electrical machinery and equipment..*.. »„.„.... 2-5,
10-12,15,27
Employee-hours, aggregate, and indexes
11
Employment ........„..„..„.,..,„........„»„,„-------..
„....„„ 10,11
Explosives ...i,.......«,..«.,«^,,.^»»..,....M.M»M«
20
Exports (see also individual commodities) ..
16,17
Failures, industrial and commercial ..„„„....
5
Farm prices *.„*.*....,..»..,..»,».**„„..„.„..,...„„„.,
5,6
Farm wages „.„«.«,,.„„,,....„«......,.„,„,»,.„...„
12
Fats and oils ....«*....,.....«......*..w..w....,ww«.,(
17
Federal Government finance.........................
14
Federal Reserve banks, large commercial..,
13
Federal Reserve member banks ..,.«,..,.,,.,M,,(
13
Fertilizers......-------,w...............^,.....________...
..
19
..,.,,...«.,.,,,,,..,..,M
22
Flooring, hardwood *
24
Flour, wheat ,,...,„„„
22
Food products .....,..,...„,„„.
20-23
Foeign trade (see also individual cominod.)
16-18
Freight cars (equipment) „,.„.,.»„„*
32
Bruits and vegetables ..«*..»....„.......
......,„,,.
5
Fuel oil ,.....«*.......*,W*,*,.......«.»*.,.....
...<,„„,„ 5,28
Fuels ....*.............»....*..............^,w..
2,6,17,27,28
Furnaces ,.,.„.„„.».,..„.„„„ —* ---------Furniture...,.,.... —,»,*,..«,.....,.,,.if..,,,
ZTli 6,8-12
Gas, output, prices, sales, revenues
„..„.„„ 2,6,20
Gasoline .„.„..„.„„„„.„-----------,.—».
....„,.„.,
28
Glass and products ««»..,*..*..,«,.„,.,„»
„».„„„.,
30
Glycerin ..,..«n.......«.w..........i....,....
......
.....
19
>„.,*„„..
14
Grains and proIS^^
.....5,6,21,22
Grocery stores ....»..,...«.
,.**...„.„
9
Gypsum and products .
30
Hardware stores w,,.,.«.....,^,,,,»,,...,.,...».,,.,,,.,,.,...
8
Heating equipment »„„„.„„.„.,....„„„„„„,.;.„.,„.„,
26
Help-wanted advertising index ,„„.„..,„.„...„».„„.
12
Hides and skins ,»........,«,.^,.,.,........,.M,,,,,,..,..M^
$
Highways and streets .„.,..„,,..„„.„„...„.,„...„„„.„
?
Hogs «,,.*««»..,..,...*»,..,,.,..,..,,,,,«.,w,,.,M,,^,.».!.,»,,»i«lk.M.
22
Home Loan banks, outstanding advances*..»!»Z
8
Home mortgages ...„„.......„.„„„.„„„.„...„„„„„„„
$
Hotels and motor-hotels *..,*,*.„««.„,..„„„.„„..„.,.
18
Hoiirs, average weekly „„....,.........„„,
»„..„
n
Houseflirnishings ,«,,,,,.,,.....,,,,,,,.,...,^M»t.,,,. 2,4, 5, 8,9
Household appliances, radios, and television sets
27
Housing starts and permits.,,..........,...,,,.,,,..,,......
7
Imports (see also individual commodities) ..„..«„ 17, 18
Income, personal „..„«-------,...,....^«..,.,,...
....
2
Income and employment tax receipts .... .....
... ....
14
Industrial production indexes:
By industry .«..,..».,..,..
,»M,M«
1> 2
By market grouping ..
..„.„,.
l, %
Installment credit ...,..».,
.„..,„
14
Instruments and related product...
... 2-4, 10-12
Interest and money rates
,.,»..„.
14
Inventories, manufacturers' and trade »,».,.«.„...... 3, 4, 9
Inventory-sales ratios .........«^..,.....».,.........«.*M,
3
Iron and steel ... — ............ —........ 2, 15, 24, 25
...........
Coffee „ . . . . , . . , . „ „ , „ . , * ...
. . , . . . „ . „ . . „ . „ „ » , ..
Coke,.
^».^Z^^..^^Z
Combustion, atmosphere, heating equipment ..,.«.,,..,»,*.»„,..,.»,..,«...«,.,„.,.«».„..,.«,,
26
Communication ..,.,,,..,..,..,,,.^.,».,.,,,mw,,
Mfc 19
Confectionery, sales »»„,,„.„,..»;.„.„.„„,„*„
22
Construction:
Contracts ,....,..,...,»«<.,.,,..M...,..,,.
7
Costs ,».........„„„..„.„...„......„„..„»„„.„.,
7
Employment, unemployment, hours,
earnings....
1&42
Highways and streets
., - '7
Housing starts ..,.„„.„
7
New construction put in place
7
Consumer credit ,„..„,....„„..*,„„„
14
Consumer goods output, index ,..,_
„.,„.„
Consumer Price Index .,*„..,.,„„„;«.„,„„„,.«„„.... *
5,6
Copper and copper product .*„„.„„.„.„.„.„„,„„ ,, 25,26
Corn—,..„..„„„..„.., ..,»,,..,»...«...,..^,,,....w«.
21
Cost of living (see Consumer Price Index),,.,..,, ..
5,6
Cotton, raw and manufactures..,,,,,,,,,^- .^.,- 5,30,31
Credit, commercial bank, consumer..
14
Crops,.,.
Machine tools .....**M...,..,..,...*...^,..,...........,,,,..,...M
26
Machinery „..— .„,„.....,.,„... 2-6, 10-12, 15, 17, 26, 27
Manufacturers* sales (or shipments), inventories,
orders ;». ... —„ . . , „ . „-------. ,.»..
. .„..,
,..„ .„
^,. ...
3-5
Manufacturing employment, unemployment,
production workers, hours, earnings „*,»....,...., 10-12
Manufacturing production indexes ...,...„„„...,„...
l, 2
Meat animals and meats
„ 5, 22
Medical care
....„..„„
.„..„.„.
6
Metals..,.,,,..
2*6, 10-12, 15, 24-26
Currency in circulation
Dairy products .„„„.„..„„
Debt, U,S, Government..,
Deflator, PCE ,„..„„»...„»,
Department stores, sales, inventories
Deposits, bank
Mining and minerals..
2, 6, 10-12, 15
Monetary statistics ..,.„„.,„«,.„„„.„„
...„„
.,..
15
Money and interest rates .....„„.„..„»
.,...
...,.
14
Money supply .....,**»,*,.,,...«.,.,,,,,.,,..,..
»
is
( ,,,..
t .,,.
Mortgage applications, loans, rates,
. . ! 8 13, 14
.Ir,
Motor carriers
18
Motor vehicles ,
2-4,6,8,9,15,17, 32
Labor advertising index,..,*...,.....,..,....,.,,,,,,,....,..,.
14
Labor force ,..«.,.*,..»..»......„,.»,..„..,*,„»..„.„.„.,„„„, 9, 10
Lamb and mutton .«.„..„„.,--------......—......._____*..
* 22
UatheV^dpS
Livestock »«,«...»«»«....,..,..,....,.,m.,»,,.,,..MMM...,.M,)t.
loans, real estate, agricultural, bank (see
also Consumer credit) ........... — „„„...,...........
5, 22
Lubricants „„„„.„.„....,...,„„„,„.„„„„„.„„,.„„„„.„
28
8, 13
Lumber and products ..„.,„...,„..,....„» 2, 6, 10-12, 23, 24
21
31
National parks, visits .,,..,.,,.,,*,..,M...,,,,..i...»..«,,.«*
18
Newsprint ..,.....;,..,.,,.,«...#..,,,,.,,U,..;...«.M.,^..,.v,w '" * -29
New York Stock Exchange, selected data ..««„;.
16
Nonferrous me^ls,^,.4....,.«.M.,,,.i..v».. 2,4,5,15, 25,26
" Oats »«»*»^»^^»^«»^M».m<t»,^^;^t;>,'',\ 21
Oils and fats »,^»«,*»*».».w»<*.^^...,^i»^
l?
Orders, new and unfilled* manufectiirers* «,*.»^.
4, 5
;
Outlays, U,S, Government .;.;««,.»,.,,,„„;,;«;„.„.«.„ '/ ' 14 •
Paint and paint materials ,,..,,,,.,,,,..w.,f.w,.,.,,.«v..
20
Paper and products and pulp ,,,.,,i.,.;,^.;,,..;,.,»,4.w 2-4,
,
6,10-12,15,^39
tt ..
Parity .ratio ^~^»m^^-,^^t.^^ - ./'<•$
Passenger cars,.,....„,»,,«„,.,.....;... 2-4,6» 8» 9, If , 17, 32
PESSDorts issued ' ^ ' »' ' ~
' '"' ~ '* '•-' "*'""$&
Personal consumption ex>StoST.^
l
Personal income „
Personal outlays..,,...,.,,,
Petroleum and products _„„„, „„„„„„ „.. „
_ .
I0-12;i§,l7,27,m
^itw^^^.,^^,^^*^^^^*^^,^*^^,^^.^
24
Plastics and resin materials ,,..*«.,,™,..,...»i,..,,/
20
Population .«,«....^.,,,»,.«.......,,,*w,..,,.,u^........,
pnrk
. "> •
~ ' '' '"
-""
* Uin ,»*,»»»»**»«.»**»»l*»^..,..««.«,^«»*»».,»,f»»<,»#,»,,,-,.«?,,^.,»M<l.M;
9
' ,- - ', it
jJJ[
Poultry and eggss «..,M,*,,,.,.U.,.,,,,,,«,,,i.WfMM;,.«.« 5, 22
Price deflator, implicit (PCE)-,*«»..,...,*»,,;<..,«»;,,,?,,'.',
l
Prices (see also individual commodities)s ;.,„.;,;,..,/ 5,6
Printing and publishing «.,«..,,.«,.,,.,..;..,.;.,,.,,«,^ 2,10*12
Private sector employment, hours, earnings ,..»...*..,....,,.,.....,,,..w«.,«;«,w.».t,,...,«,,,^«ww. 10-12
Producer Price Indexes"'tM,.,..,,.^..f,*><„,;, ^ 4,.,
6
Profits, corporate«*,,,*,,.,,.....,,.,.;,,,,uZ.Z"«i;*«S«C " '• '15'Public utilities,.,.,,.,.....^,,,,.w.«,.?.,..w 1,2, 7,15,16^ 20
Pulp and pulpwoiid,...,..,,i,;,.,«,,^..fW..,w,;.;MiM^
28
Purchasing power of the dollar ,,,,,,»....*w.,...^.,/
6,
Radio and television.
. 8,27
Railroads „„...„„„„,„
. 13^ 16,,18, 32
Ranges,,.,....,,,..,,..,..,..,^,,,,,
27
Rayon and acetate..,......,*,;,,
31
Real estate ,*,„.„.....„„„.„..;,.
Receipts, U.S. Government,
Refrigerators .«».«.»«««„*.»»„.«,.«„,,„„
"'27
Registrations (new vehicles) „„„.,
Rent (housing).....
32
Rubber and products (incfc plastics) »,,,.l
2-4,
,.
Saving, personal ,„„„„„,
Savings and loan assoc., new mortgage loans .
Savings deposits ,«.«..,...„«
Securities issued ,..,V,,.,,.,,^
Security markets .«.„.„.„.$
S r i e .,.,.,.,,.....*
e vc s . . . , , , , , . , , , , .
Sheep and lambs .„..„.*.„„„
Shoes and other footwear .
Silver ,.,,..»..„,«„„»„.,»,,„„.,.„
Spindle activity, cotton.....
Steel (raw) and steel manufactures .
Steel scrap....
Stock market customer financing....
Stock prices, yields, sales, etc...
Stone, clay, glass products :»«,^,
Sugar..,..,,.,.....
Sulfur,
<>&•'•'
"
16
19
19
19
Superphosphate „..„..„„.„„>,;„„.*,„
Tea imports .„.».....—„„„„„„„.„
23
Telephone and telegraph carriers
19
Television and radio......
Textiles and products „„,
„ 2-4v 10-12,15, ^0,31
Tin „.„.„... ..„„„„.„.„„,„.„...„ „.....,.„.,»,«..,„„ , " 26
Tires and inner tubes ...,.,..,.,w,., „,„„.„...„„„„„,
29
Tobacco and manufactures.
.«^,w, 2-4^10-12,23
Tractors ..„....,.,„,.„.„.„.,........
Trade (retail and wholesale).
Transit lines, urban „«...„..„„
18
Transportation .„.„.,,„„„.„„„.
Transportation equipment...,. ... 2-6,10-^15,17.32
Travel......,.....,..,,..
..„.„.,.„
Truck trailers ........
........
...
Trucks (industrial and other).,.,
Unemployment and insurance...
U,S. Government bonds .„.„.,„..<
*
U.S. Government finance „.„„.«„
UtilWes,.
..„.„..„.....«.,.«,„„„
Vacuum cleaners ...„.,..,..„.„.„.,„
Variety stores........ ,..„...„„„,
Vegetables and fruits ,„„„.„„.„..„„.
Veterans' unemployment insurance
Wages and salaries «..,......„..„.„„.,„
Washers and dryers ,..„.„„„„„,„<„.;
Water heaters ,...,...,.,;.,„,....,..„..,„.,.
Wheat and wheat flour .^,,,.,.,.,i.......
r2if22S
Wholesale trade »„«„,«,„..„.„.,«„„„
Wood pulp ...„
„.,...,«,.„.,„„.„.„
*,;;^
Wool and wool manufactures ^..,...
Zinc „
.,„. '/-&.,
™r^5rfci2,32
*
„;>, 10, 13 ;
-; "ftl
UNITED STATES
GOVERNMENT PRINTING OFFICE
PUBLIC DOCUMENTS DEPARTMENT
WASHINGTON, D.C. 20402
OFFICIAL BUSINESS
@FedFRASER